stronger fundamentals for greater Indonesia Theme Explanation: “Stronger Fundamentals for Greater Indonesia” theme is defined as Bank Syariah Mandiri (BSM) people is committed to continuously strengthen corporate principal foundation and affirm BSM step in achieving corporate objective as part of the contribution in elevating Indonesian nation welfare..
1. Stronger Fundamentals: • Corporate principal foundation is spiritual foundation as core ideology which defines BSM existence meaning • The BSM core ideology or spiritual foundation is formulated on Credo, “Alhamdulillah, we compete in building noble economic civilization.” 2. For Greater Indonesia:
BSM dynamically improves capability by implementing new initiatives which are assured will boost its business growth, as part of the contribution to elevate Indonesian Nation welfare. Therefore, BSM people has Employee Value Proposition (EVP) to strengthen BSM setps in facing challenges ahead. BSM has formulated Employee Value Proposition (EVP) as “…where spirituality, nationalism and welfare unite.”
Annual Report 2013
i
PT Bank Syariah Mandiri
Explanation of Design and Supporting Photographs: Design: Overall deisgn and layout (cover and content) and logo placement is referred to BSM Brand Guidelines as consistent effort to strengthen corporate identity. Divider Photo: 1. Divider photos comprise the Craft Art masterpiece photographs as the reflection of Indonesian culture. 2. Photographs setting and perspective is particularly preferred that will bolster art making process visual effect to reflect inspiration, dedication for perfection. 3. The photo selection is aligned with values upheld by BSM which are spirituality, entrepreneurship and nationalism. 4. To strengthen BSM theme and value definition, we visualize craft art photographs from several regions in Indonesia. Content Photo: 1. Content photos are part of activities carried by BSM in 2013 comprising of MOU signing, visit to customers business location, employees training, promotional activity, customer gathering, awards and Corporate Social Responsibility (CSR) activity. 2. Photo selection is aimed to support the content of reporting page.
Cover Photo Story: 1. Main photo: • Two children are discussing or learning together with happiness expression emitted from both faces. • The photo is visualization of BSM people spirit to continuously develop mental - spiritual quality and mind intelligence as the foundation to achieve bright future as stated on company’s tag line, “For Noble Civilization.. 2. Supplementary photo: • Series of child of the nation photograph with their work, as the reflection of nation’s assets, entrepreneurship spirit and Indonesian nation spirituality.
Explanation of Corporate Logo : 1. General Explanation: • Small caps fonts for logo letter reflects bonding with the customers in humble attitude. • Being friendly to entire business segment from all level. • Both logo writing (“mandiri” and “syariah”) as a unity, thus allowed to change on its color if considered necessary. 2.
Font color: • Green represents fertility, wealth, serenity • Green color is also identical with universal Islamic world.
3. Liquid Gold Stream • Liquid gold stream represents fortune, welfare and glory • Gold circular as agile, progressive, looking forward, excellent characters symbol towards every possibility.
PT Bank Syariah Mandiri
1
Annual Report Laporan Tahunan 2013 2013
Table Of Contents
4
Continuity Theme
8
Performance Highlight 2013
24
The Company at a Glance
64 Human
Resources Development
84
Theme Explanation
i
Table Of Content
2
Stronger Fundamentals for Greater Indonesia
6
Management Report
118 Banking Business Review
Board Of Commissioners Report
86
Sharia Supervisory Board Report
100
Report From The Board Of Directors
104
Indonesian Economy and Banking Industry Prospect Asset Market Share
120
Third Party Fund Market Share
123
Financing Market Share
124
Funding
128
Financing
134
Treasury and International Banking
144
Fee Based Income
146
122
Contribution To Country
10
BSM Facts In 2013
14
Financial Position 2013
16
Statement of Income 2013
18
Ratios of 2013
20
Non-Financial 2013
22
Corporate Identity
26
Financial Report Position Trend
150
History Brief
28
Vision and Mission
30
Corporate Values
32
Comprehensive Income Statement Cash Flows Report Key Financial Ratio
154 155 158
Target and Objectives
34
159
Banking Products and Services
36
Allowance for Earning Asets Write-Off (PPAP) and Collectability Ratio Capital Structure and Management
Structure Organization
42
Operation Area
44
161 162
Company structure
46
Bank Soundness Level and Solvability Material Commitment for Capital Goods Investment
The Bank Shareownership
48
162
Shares Listing Chronology
50
Other Securities Listing Chronology
50
Subsequent Material Information and Fact Description on Capital Goods Investments
Company’s Supporting Professional Institution Profile of Subsidiaries and Affiliations
50
163
Award
52
Rating
53
Extraordinary Financial Information Substantive Component of Other Income and Expenses Operating Income Growth Materiality Impact of Pricing Policy in Recent 2 Years
Corporate Event
54
List of Awards
56
Employees Profile
67
Subsequent Information Profit Sharing Calculation Method Business Prospect
163 163 164
Recruitment
68
Marketing Aspect
165
Organization and Position
69
Dividend Policy
168
Remuneration System
70
Employees Assessment
71
168 168
Reward and Punishment Policy
71
BSM Competency Potential
72
Employees Development and Training
74
E-Learning
78
Knowledge Management Program
79
Employment and Occupational Health and Safety
82
IPO Proceeds and Realization Material Information on Expansion, Divestment, Acquisition and Restructuration Material Information Containing Conflict of Interest Changes in Regulation Impact to the Company Implementation of Accounting Guidelines for Indonesian Syariah Banking (“PAPSI”) 2013 and New Accounting Pronouncement
PT Bank Syariah Mandiri Laporan Tahunan 2013
126
Operational Review (per Bussiess Segment)
148
51
Financial Review
2
159
162
163 163 163
168 171 171
172
Corporate Governance
262 Compliance Report
GCG Principals and Practice
174
GCG Policy and Manual Infrastructure GCG Implementation Assessment Result 2013 GCG Mechanism and Structure
176 176
General Meetings of Shareholders
182
Board of Commissioners Sharia Supervisory Board Board of Directors Committees Corporate Secretary
184 203 209 218 232
Family Relationship Among Members of Board of Commissioners, Board of Directors and Shareholders
237
Board of Commissioners and Board of Directors Assessment
237
Remuneration and other facilities
241
Corporate Information and Data Access
242
Conflict of Interest Handling
243
Litigation faced by the Company, Subsidairy, Members of Board of Directors and/or Board of Commissioners
244
Shares and Bonds Buyback
246
Corporate Accountant
246
Non-Halal Proceeds and Realization
CSR Policy
264
CSR For Social Community and Environment
268
CSR on Occupational Sector
274
CSR Related with Responsibility to Customers
277
Bank Internal Audit System
282
Internal Audit Working Vision and Mission
283
Internal Audit Charter
283
Objectives of Internal Audit
283
Internal Audit Function
283
Auditor Professional Responsibility
283
Internal Audit Organization Structure
284
Internal Audit Position on Corporate Structure
285
Resource and Development
285
Description of internal Audit Unit Duty Implementation
285
Fraud Monitoring and Corrective Action
286
247
Goods and Services Procurement
248
Curriculum Vitae Head of SKAI
287
Information Technology
250
GCG Development
252
Principles of Risk Management Practice
290
Corporate Values
255
Risk Management with Holding Consolidation
299
Code of Conduct
256
Risk Management Development Plan
299
Whistleblowing System
260
Executive Profile
302
Outlets
306
Statement Letter
335
Independent Auditor Report
336
272
Corporate Social Responsibility
180
280
Internal Audit System
288
Risk Management
Compliance practice in 2013
264
Compliance monitoring
264
BSM Compliance Report
264
Compliance Index Realization
264
Compliance System
266
Monitoring & Supporting
267
Compliance Assessment
268
Anti Money-Laundering (APU) and Terrorism Financing Prevention (PPT) Unit (SKAP)
269
PT Bank Syariah Mandiri
3
300 Company Profile
362
Independent Auditor Report
Laporan Tahunan 2013
CONTINUITY BSM in 2013 THEME
BSM dynamically raises its capability by implementing recent methods which are ensured will boost its business growth. BSM views that all of financial performance and achievement is part of collective efforts in bringing higher welfare to Indonesian society.
Annual Report 2013
4
PT Bank Syariah Mandiri
Betawi - Ondel-ondel miniature artwork
PT Bank Syariah Mandiri
5
Annual Report 2013
CONTINUITY BSM in 2013 THEME Stronger Fundamentals for Greater Indonesia
2011 BSM determines several ways and initatives which will be better developed than exsiting conditions. Particular way or initiative which is related with paradigm, philosophy, business strategy, business soperational, organization structure and employees management.
1
Better Ways for Better Indonesia
2012 Better Legacy as a commitment of BSM in giving a good legacy to BSM future generation. We will implement the commitment under working with best effort, prudent and compliance principles wherever the employees are assigned.
Greater Ways for Greater Indonesia
Annual Report 2013
6
2 PT Bank Syariah Mandiri
2013 Stronger Fundamentals for Greater Indonesia PT Bank Syariah Mandiri (BSM) strengthens principal foundation to reaffirm BSM steps to achieve corporate objectives. BSM aims to develop better Indonesia, that Indonesia will present as spiritual leader in years to come
3
Stronger Fundamentals for Greater Indonesia
PT Bank Syariah Mandiri
7
Annual Report 2013
Performance Highlights 2013
Excellent achievement booked in 2013 is the actualization of BSM people dedication. Spirit, dedication and Vision firmness stated on performance achievement in 2013 as the reflection from commitment to build noble economy civilization.
Laporan Tahunan 2013
8
PT Bank Syariah Mandiri
Yogyakarta - Wayang Kulit Art, one of national cultural heritage.
PT Bank Syariah Mandiri
9
Laporan Tahunan 2013
Performance BSM in Highlights 2013 2013
I
Contribution To Country
n line with corporate vision to “Lead Noble Economic Civilization,” PT Bank Syariah Mandiri (BSM) seeks to achieve through concrete contribution for the nation development namely on various aspects of public economy strengthening, excellent Human Resources (HR) Development, social – community development, educational support and commitment to environment. Several key milestone on Taxation, Business and Corporate Social Responsibility (CSR) had been recorded in 2013 as the Contribution for the Country.
Contribution to Country Contribution to Country.
TAX OBIDIENCE
As biggest sharia financial institution in Indonesia, we always comply with policy of Republic of Indonesia Government both the Law or other mandatory policies. One of our compliance realization is through tax payment for the country. In 2013, BSM tax payment to State Cash reached to
Rp342.79 billion.
Annual Report 2013
10
PT Bank Syariah Mandiri
Contribution to Country
micro entrepreneurs Rp1.9 trillion.
BUSINESS
with total vale
National Economy Development Through Industrial Financing BSM also contributed for industrial finacnign as part of an effort to drive national economy growth. In 2013, BSM disbursed syndicated loan senilai Rp1.05 trillion to several industries including Telecommunication (tower provider), Oil & Gas, Trading Oil, and Power Plant.
Early Recruitment Program (ERP) Through University Synergy
Poverty Eradication through Micro Financing
As a commitment and active contribution in developing excellent HR, BSM established partnership with 36 universities nationwide on Early Recruitment Program (ERP) to fill various functions and positions on the Company’s organization. ERP through 13 State Universities (PTN) and 23 Private Universities (PTS) had recruited 445 qualified qualified applicants from
BSM assures that contribution for micro business is important and holds significant role in eradicating poverty. This is due to micro loan becomes the largest contributor sector on Indonesian Gross Domestic Product (GDP) with 56.7% contribution and workforce absorption level to 99.6% from total workforce. In 2013, BSM assisste dthe Government in elevating public welfare through financing activity to 1.030 micro agencies spread in 33 Provinces and to 88,602
PT Bank Syariah Mandiri
1.585 applicants.
11
Annual Report 2013
Performance BSM in Highlights 2013 2013 Contribution to Country CORPORATE SOCIAL RESPONSIBILITY (CSR)
Micro Entrepreneurs Empowerment and Assistance BSM assumes public economy capacity empowerment as highly important to strengthen national economy resilience and competitiveness. Throughout 2013, BSM in cooperation with BSM Laznas designed public economy empowerment program comprising of: micro entrepreneurship assistance and training, individual capital assistance and business group capital assistance. The program had been received by 6,259 micro entrepreneurs with total budget allocated to Rp7.54 billion.
Education and Scholarship Program
We believe that zakat, infaq, shadaqah and waqf have strategic contribution for social protection to elevate umma welfare. Total zakat, infaq, shadaqah and waqf pada tahun 2013 sebesar Rp32.07 billion yang disalurkan melalui Laznas BSM kepada:
57,137 general public, 318 foundations, 205 schools, and 12 amil zakat institutions (LAZ).
Annual Report 2013
BSM Commitment as a support for national education is disbursed through scholarship program for Elementary School, Junior High School, High School to University level. Moreover, educational assistance and donation for education agency and foundation program are also carried. In 2013, BSM disbursed scholarship to 26,272 students through 197 education agencies with total budget allocated to
Rp9.45 billion.
12
PT Bank Syariah Mandiri
BSM Fellowship Program
Nation Mental-Spiritual Development
As Value Driven Company, BSM has ETHIC Shared Values which is continuously implemented on working circumstances. Humanity is part of the shared values with core behavior of Social & Environment Care translated as sincere care to the environment and social circumstances.
Religion is a fundamental pillar as the foundation to develop the Nation spirit. Therefore, BSM has a notable concern to continuously develop society’s physicological apect through religious program initiative. The program had reached 55,551 people from 12,000 families dan 224 institutions with total budget allocated to Rp6.86 billion.
Education sustainability of a child may be interrupted due to passed-away of the breadwinner. BSM responds to respective condition by designing scholarship
program for orphans of passedaway BSM employees under BSM Fellowship Program. The scholarship
Health Quality Improvement and Environmental Development
program is eligible for various educational level ranging from Elementary School (SD)
to University (S1 Degree).
Improving health quality is one of public welfare indicators. Realizing respective condition, BSM increases contribution in engaging with public health, welfare and environment improvement. The program is including: individual health assistance, blood donation, regular healthcare, malnutrition eradication, mobile social charity, BSM Umat Health Clinic establishment, Ambulance donation and mass circumcision. In 2013, the program had been participated by 29,400 people and 20 institutions total valued Rp3.53 billion.
PT Bank Syariah Mandiri
27 orphans of former employees In 2013, the program had funded
comprising of: 7 Elementary School students, 5 Junior High Schools students, 8 High Schools Students and 7 University students with total budget allocated to Rp148,561,300.
13
Annual Report 2013
PERFORMANCE HIGHLIGHTS 2013 BSM Facts In 2013
Alhamdulillah, PT Bank Syariah Mandiri (BSM) booked Assets growth to Rp9.74 trillion or 17.95% from Rp54.23 trillion in 2012 to Rp63.97 trillion in 2013
Good Corporate Governance (GCG) implementation self-assessment composite score carried by BSM to Bank Indonesia reached to 1.85 or “Good” category
Total Third Party Fund collection rose by Rp9.05 trillion or 19.09% from Rp47.41 trillion in 2012 to Rp56.46 trillion in 2013.
Awards in various sectors from several institutions reached to 42 awards both in national and international levels. The achievement indicates high public trust and appreciation level to BSM.
Finance disbursement grew by Rp5.71 trillion or 12.75% from Rp44.76 trillion in 2012 to Rp50.46 trillion in 2013 Equity increased by Rp681 billion or 16.29% from Rp4.18 trillion in 2012 to Rp4.86 trillion in 2013.
Annual Report 2013
14
PT Bank Syariah Mandiri
BSM held Rakernas 2013 on December 19 – 21, 2013. The Rakernas was participated by Board of Commissioners, Sharia Supervisory Board, Board of Directors, Division Head, Unit Head and Branch Office Head. Rakernas aimed to align BSM people perspective and spirit in achieving business target.
Rp Trillion
Assets
60 48,67
50 40
Rp Trillion Loans
63,97 54,23
44,75
40 30
32,48
30
36,73 23,97
20
20
10
10
-
2010
2011
2012
Rp Trillion Third Party Fund 47,41
50
2013
2010
2011
2012
2013
Rp Trillion Equity
56,46
4,86
5 4,18
42,62
40 30
50,46
50
4
29,00
3,07
3
20
2
10
1
2,02
2010
PT Bank Syariah Mandiri
2011
2012
2013
2010
15
Annual Report 2013
2011
2012
2013
PERFORMANCE HIGHLIGHTS 2013 Description Financial Position Assets Earning Assets
Financial Position 2013
Placements with SBIS FASBIS and Reverse Repo SBSN Loans Liabilities Temporary Syirkah Fund Marketable Securities issued Third Party Fund a. Demand Deposits b. Savings c.Deposits Equity 63,97
Assets (in Rp billion)
60,00
1. No information on the highest, lowest, closed share price and share volume is available as BSM was not involved in the Indonesia Stock Exchange trade activities by the year-end of 2013.
48,67
50,00 40,00
32,48
30,00
22,04 17,067
20,00 10,00
2. No information on amount of bonds/sukuk/convertible bonds is available as BSM has not issued any bond, sukuk or convertible bond by the year-end of 2013.
54,23
6,87
8,27
9,55
2005
2006
12,88
2004
2007
2008
2009
2010
2011 2012 2013
Assets Rp63,97 billion
Annual Report 2013
16
PT Bank Syariah Mandiri
in Rp billion 2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
6.870
8.273
9.555
12.885
17.066
22.037
32.482
48.672
54.229
63.965
6.404
7.971
8.913
12.269
16.399
21.319
30.744
44.918
50.640
58.947
325
1.373
780
670
1.305
2.381
3.412
4.850
3.125
5.918
5.296
5.848
7.415
10.326
13.278
16.063
23.968
36.727
44.755
50.460
1.420
1.700
2.658
2.647
2.343
3.273
5.010
7.041
9.169
11.029
4.901
5.940
6.200
9.427
13.315
16.963
25.251
37.858
40.380
47.574
200
200
200
400
200
200
200
700
500
500
5.725
7.037
8.220
11.106
14.898
19.338
28.998
42.618
47.409
56.461
981
1.261
2.054
1.846
1.812
2.591
4.015
4.669
6.434
7.525
1.536
1.958
2.668
3.872
5.284
7.163
9.873
14.424
19.148
22.101
3.208
3.818
3.498
5.388
7.802
9.584
15.110
23.525
21.827
26.834
549
633
697
811
1.208
1.600
2.021
3.073
4.181
4.862
56,46 50.00
50,46
Loans (in Rp billion)
44,75
45.00 40.00
47,41 42,62
40.00
35.00
35.00 23,97
30.00 25.00
25.00
5,30
5,85
7,41
19,34
20.00
13,28
15.00
29,00
30.00
16,06
20.00 10.00
Third Party Funda (in Rp billion)
50.00 45.00
36,73
15.00
10,33
10.00
5.00
5,72
7,04
8,22
2004
2005
2006
11,11
14,90
5.00
-
2004
2005
2006
2007
2008
2009
2010
2011 2012 2013
Loans Rp50,46 billion
PT Bank Syariah Mandiri
2007
2008
2009
2010
2011 2012 2013
Third Party Fund Rp56,46 billion
17
Annual Report 2013
PERFORMANCE HIGHLIGHTS 2013 Statement of Income 2013
Description Statement of Income Income from Fund Management Bank as Mudharib Third Party Rights on Temporary Syirkah Fund Profit Sharing Income from Fund Management Bank as Mudharib - Net Fee Based Income Operating Income Income Before Tax Expense Net Income Comprehensive income Earning per Share
5.438 4.500
3.771
4.000 3.500
2.768
3.000 2.500 1.736
2.000 1.500 1.000
4.685
Income from Fund Management Bank as Mudharib( (in Rp billion)
5.000
584
865
934
1.197
2005
2006
2007
2.071
500 2004
2008
2009
2010
2011 2012 2013
Income Rp5.438 billion
Annual Report 2013
18
PT Bank Syariah Mandiri
in Rp billion 2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
584
865
934
1.197
1.736
2.071
2.768
3.771
4.685
5.438
269
386
455
512
768
902
1.162
1.781
1.914
2.081
315
479
479
685
968
1.169
1.606
1.990
2.771
3.357
102
94
145
210
301
347
567
1.082
1.139
1.193
141
137
101
167
283
426
580
761
1.119
898
150
137
95
168
284
418
569
748
1.097
884
103
84
65
115
196
291
419
551
806
651
-
-
-
-
-
-
-
553
807
651
1.443
1.169
914
1.611
1.759
2.210
3.179
3.376
3.382
2.232
900
Operating Income (in Rp billion)
1.200
Net Income (in Rp billion)
1.000
651
898
700
551
761
800
419
500
580
600 426 400 200
806
1.119
141
137
101
291
300
283 167
100
196 103
84
65
115
-
2004
2005
2006
2007
2008
2009
2010
2011 2012 2013
2004
Operating Income Rp898 billion
PT Bank Syariah Mandiri
2005
2006
2007
2008
2009
2010
Net Income
Rp651 billion
19
Annual Report 2013
2011 2012 2013
PERFORMANCE HIGHLIGHTS 2013 Description Key Ratio Capital Adequacy Ratio (CAR) Return on Assets (ROA) - Gross
Ratios of 2013
Return on Assets (ROE) - Net Finance to Deposit Ratio Non-Performing Finance - Net Non-Performing Finance to Total Finance (NPF Gross) Net Interest Margin (NIM) Quick Ratio Debt to Equity Ratio Debt to Assets Ratio
Capital Adequacy Ratio (CAR)
25,00% 20,00% 15,00% 10,57%
11,88% 12,56%
14,57%
12,43% 12,66% 12,39%
13,82%
14,10%
10,60%
10,00% 5,00% 0,00% 2004
2005
2006
2007
2008
2009
2010
2011 2012 2013
CAR 14,10%
Annual Report 2013
20
PT Bank Syariah Mandiri
2004
2005
2006
2007
2008
2009
2010
10,57%
11,88%
12,56%
12,43%
12,66%
12,39%
10,60%
2,86%
1,83%
1,10%
1,53%
1,83%
2,23%
22,28%
14,56%
10,23%
16,05%
21,34%
92,50%
83,09%
90,21%
92,96%
1,97%
2,68%
4,64%
2,42%
3,50%
6,91%
2012
2013
14,57%
13,82%
14,10%
2,21%
1,95%
2,25%
1,53%
21,40%
25,05%
24,24%
25,05%
15,34%
89,12%
83,07%
82,54%
86,03%
94,40%
89,37%
3,39%
2,37%
1,34%
1,29%
0,95%
1,14%
2,29%
6,94%
5,64%
5,66%
4,84%
3,52%
2,42%
2,82%
4,32%
6,83%
5,63%
6,31%
6,73%
6,62%
6,57%
7,48%
7,25%
7,25%
162,26%
207,16%
118,60%
171,09%
225,37%
209,34%
202,90%
262,62%
155,26%
178,65%
258,78%
268,79%
381,16%
326,19%
193,87%
204,53%
247,94%
229,11%
219,31%
226,85%
20,67%
20,55%
27,81%
20,54%
13,73%
14,85%
15,42%
14,47%
16,91%
17,24%
30,00%
Return on Assets (ROA) - Gross 3,00%
2011
Return on Assets (ROE) - Net
2,86%
25,05% 24,24% 25,05% 2,25%
2,23% 2,21% 1,83%
2,00%
1,53%
1,95%
1,83%
22,28% 1,53%
1,10%
2006
10,23%
10,00%
0,00% 2005
2007
2008
2009
2010
0,00%
2011 2012 2013
2004
2005
2006
ROA 1,53%
PT Bank Syariah Mandiri
15,34%
14,56%
1,00%
2004
16,05%
20,00%
21,34% 21,40%
2007
2008
2009
ROE 15,34%
21
Annual Report 2013
2010
2011 2012 2013
PERFORMANCE HIGHLIGHTS 2013 Non-Financial
Description
2013
Office Network Employees ATM Network (BSM, Bank Mandiri, ATM Bersama, ATM prima, MEPS) Financing Customers to total Financing
853
Office Network
800
764 669
700 600
270
200
134
164
7.902
8.000
313
300
11.788
10.000
390
400
14.000 12.000
507
500
16.945 15.999
Employees
16.000
6.000
212
4.000
4.544 1.913
2.127
2.032
3.003
3.493
2.000
100
0
0 2004
2005
2006
2007
2008
2009
2010
2004
2011 2012 2013
Office Network 853
Annual Report 2013
2005
2006
2007
2008
2009
2010
2011 2012 2013
Employees 16.945
22
PT Bank Syariah Mandiri
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
134
164
212
270
313
390
507
669
764
853
1.913
2.127
2.032
3.003
3.493
4.544
7.902
11.788
15.999
16.945
7.733
13.709
13.291
22.187
27.199
34.924
47.000
65.118
109.686
144.865
344.000
490.377
658.307
896.692
1.100.404
1.423.725
1.989.927
2.864.087
3.873.043
6.515.135
150.000 140.000 130.000 120.000 110.000 100.000 90.000 80.000 70.000 60.000 50.000 40.000 30.000 20.000 10.000 -
144.865
ATM Network
7.000.000
Customers
6.515.135
6.000.000
109.686
5.000.000 3.873.043
4.000.000
7.733 2004
13.709 13.291
2005
2006
22.187
2007
27.199
34.924
47.000
2009
2010
344.000 490.377
658.307
896.692
1.423.725 1.100.404
-
2011 2012 2013
2004
ATM Network 144.865
PT Bank Syariah Mandiri
1.989.927
2.000.000 1.000.000
2008
2.864.087
3.000.000
65.118
2005
2006
2007
2008
2009
2010
Customers 6.515.135
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Annual Report 2013
2011 2012 2013
The Company at a Glance
BSM performs and exists under business idealism and spiritual value harmonization. BSM grows as a bank which is succeeded in combining both values as business operational activity foundation.
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PT Bank Syariah Mandiri
Banking Hall BSM - BSM Banking Hall - Comfort in performing transaction for all society.
PT Bank Syariah Mandiri
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The Company at a Glance Name PT Bank Syariah Mandiri Address Wisma Mandiri I Jl. MH. Thamrin No. 5 Jakarta 10340 – Indonesia Telephone (62-21) 2300 509, 3983 9000 (hunting) Call Center BSM Call 14040 (021) 2953 4040 Facsimile (62-21) 3983 2989
Corporate Identity
Website www.syariahmandiri.co.id Email
[email protected] Social Media Bank Syariah Mandiri @syariahmandiri Establishment Date October 25, 1999 Oeprational Date Since November 1, 1999 Authorized Capital Rp2.500.000.000.000 ,-
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PT Bank Syariah Mandiri
Wisma Mandiri I and II, MH. Thamrin Street 5, Jakarta is a Head Office of BSM. Located in most strategic location in the Capital, that drives BSM to continuously perform as leading Sharia Bank in Indonesia.
Paid-in Capital Rp1.489.021.935.000,Equity Rp4.861.998.914.310,Service Office 853 service offices nationwide ATM Network Total ATM reaches to 144,865 networks comprising of: • ATM Syariah Mandiri, • ATM Mandiri, • ATM BERSAMA, • ATM Prima, dan • Malaysia Electronic Payment System (MEPS). Total Employees 16,945 employees Rating AA+ (idn), Pefindo 2013
PT Bank Syariah Mandiri
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Annual Report 2013
The Company at a Glance
M
ulti-dimensional crisis hampered Indonesia in 1997 – 1998 brought distinct blessing for Sharia Banking System milestone in Indonesia. When the conventional Banks severed the economic crisis, a paradigm on new concept to save the economy from prolonged crisis was flourishing. On the other hand, to recover economy generally, the Government took an initiative to merger 4 (four) Government Banks which were Bank Dagang Negara, Bank Bumi Daya, Bank Exim and Bapindo into one entity, a strong bank named PT Bank Mandiri (Persero) Tbk. on July 31st, ,1999. The merger policy was also determined PT Bank Mandiri (Persero) tbk as majority owner of PT Bank Susila Bakti (BSB). PT BSB is a conventional bank owned by PT Bank Dagang Negara employees welfare foundation and PT Mahkota Prestasi. To recover from economic crisis, PT BSB was also mergered with several banks and invited foreign investors. As an action plan of Sharia Economy System Development initiative, the Government implemented Law No. 10 of 1998 which granted an opportunity for Commercial Banks to serve sharia transaction (dual banking system). As a response, PT Bank Mandiri (Persero) Tbk consolidated and established Sharia Banking Development team, aiming to develop Sharia Banking Service on PT Bank Mandiri (Persero) Tbk. corporate group.
History Brief
Sharia Banking Development Team assumed that the implementation of the Law as a momentum to convert PT Bank Susila Bakti from Conventional Bank to Sharia Bank. Therefore, Sharia Banking Development Team had to immediately prepare its system and infrastructure that BSB business activity was transformed from Conventional bank to a Bank operated based on sharia-principle under the name of PT Bank Syariah Mandiri as stated on Notarial Deeds: Sutjipto, SH Mo. 23 dated September 8th, 1999.. BSB business activity business transformation to sharia commercial bank was confirmed by Bank Indonesia Governor under BI Governor Decree No. 1/24/KEP/BI/1999, October 25, 1999. Hereinafter, under the Senior Deputy of Bank Indonesia Governor Decree No. 1/1/KEP.DGS/1999, BI approved the name transformation to PT Bank Syariah Mandiri (BSM).
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PT Bank Syariah Mandiri
BSM Head Office from front angle (MH Thamrin street, Jakarta). The position is located at the heart of Capital contributed spirit to all BSM people to drive the Company as leading Sharia Bank in Indonesia.
Milestone of PT Bank Syariah Mandiri
Followign the legal confirmation and recognition, PT Bank Syariah Mandiri was officially operated since Monday, 25 Rajab 1420 H or November 1, 1999.
PT Bank Syariah Mandiri exists and appears carrying business idealism and spiritual value harmonization. Bank Syariah Mandiri grows as a bank which is succeeded in combining both values, as the operational activity foundation.
1955 Establishment of PT Bank Industri Nasional (PT BINA) 1967 PT BINA was transformed into PT Bank Maritim Indonesia 1973 PT Bank Maritim Indonesia was transformed into PT Bank Susila Bakti 1999 PT Bank Susila Bakti was converted into sharia bank and changed its name into PT Bank Syariah Mandiri
Business idelism and spiritual value harmonization becomes an excellence of Bank Syariah Mandiri for its part on Indonesian banking industry.
PT Bank Syariah Mandiri
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The Company at a Glance BSM Vision and Mission
T
o support corporate objectives achievement, PT Bank Syariah Mandiri (BSM) views the necessity to implement Vision and strengthen mission of the Company. The corporate mission strengthening is carried by aligning former mission statement with actual condition. BSM has implemented BSM Vision, Mission and “ETHIC” Shared Values. The Bank also has disseminated BSM Vision, Mission and “ETHIC” Shared Values to entire management of BSM to acknowledge, understand and conduct BSM Vision, Mission and “ETHIC” Shared Values (ref: Circular Letter No. 10/001/UMM dated January 30th, 2008 as amended under SE No. 16/005/UMM dated March 10th, 2014 on The 7 (Seven) Fundamentals of BSM.
Vision To Lead The Development of Noble Economic Civilization.
Mission 1. Achieving sustainable growth and profit exceeding industry average,
2. Prioritizing low-cost fund collection and finance disbursement on Micro and SME segment, 3. Developing talent management and sound working environment, 4. Incerasing awareness towards the society and environment, 5. Developing universal sharia values.
Explanation about Vision Statement “Leading Noble Economic Civilization” is defined that: “BSM will become the leader in Developing Economic Civilization of the people which is more noble, fair, honor, welfare – bring welfare, Sharia-based, high value and excellent.” a. “Leading” as being the foremost, b. “Development” is benefit realization by seeking to improve in continuous and sustainable manners within generations, c. “Economic Civilization” is a condition where the humankind has developed effective procedures (tradition, culture, process, system) in utilizing human resources and in producing and trading goods and services (Mirriam Webster Online), d. “Noble” is honor, fair, respected, welfare – bring welfare, Sharia-based, high value and excellent.
Explanation about Mission No.
Mission
Explanation
1.
Realizing sustainable growth and profit exceeding industry average.
That BSM growth and profit always exceeds industry average achieved under Sustainable Competitive Advantage.
2.
Prioritizing low-cost fund collection and finance disbursement on Micro & SME Loan.
That BSM prioritizes low-cost fund and finance disbursement on Micro & SME Loan.
3.
Developing Talent Management and Sound Working Environment.
That BSM continuously develops Human Capital development starting from tahap attraction, identification, development, deployment to retention program, and sound Working Environment.
4.
Developing awareness to society and environment.
That BSM always seeks to disseminate higher benefit to the society and environment within times .
5.
Developing Universal Sharia Values.
That BSM is committed to develop corporate governance based on knowledge and humanity values accepted by the society universally.
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PT Bank Syariah Mandiri
E
T
(Excellence)
C
(Teamwork)
BSM Shared Values
(Customer Focus)
H
(Humanity)
I
(Integrity)
To realize the corporate Vision and Mission, BSM people hall share for BSM under common values. The values are acknowledged as BSM Shared Values. BSM Shared Values is ETHIC (Excellence, Teamwork, Humanity, Integrity and Customer Focus)
Excellence: Seeking to achieve perfection through integrated and sustainable improvement.
Integrity: Understanding and Complying with professional ethical code and paradigm and noble attitude.
Teamwork: Developing synergical working environment
Customer Focus: Understanding and fulfilling customers eneds (external and internal) to bring BSM as trusted and advantageous partner.
Humanity: Highly upholding religious humanity values.
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Annual Report 2013
The Company at a Glance
T
Corporate Values
o support the Company’s vision and mission realization, PT Bank Syariah Mandiri (BSM) formulates Corporate Shared Values acknowledged as BSM Shared Values under BOD Circular Letter No. 10/001/UMM dated January 30th, 2008 on BSM Vision, Mission and “ETHIC” Shared Values. To actualize the Vision and Mission, BSM people shall share for BSM under common values. The values are acknowledged as BSM Shared Values. BSM Shared Values is ETHIC (Excellence, Teamwork, Humanity, Integrity and Customer Focus), with 10 core conducts, as follows:
Shared Values Excellence perfect resultMencapai hasiloriented yang mendekati sempurna (perfect resultoriented)
Teamwork Developing synergical workingkerja environment Mengembangkan lingkungan yang saling bersinergi
Humanity Developing awareness to humanity and environment Mengembangkan kepedulian terhadap kemanusiaan dan lingkungan
Integrity Noble and honored attitude, and dan preserving professional Berperilaku terpuji, bermartabat, menjaga etika ethicsi profesi Customer Focus Developing awareness on customers seeking to Mengembangkan kesadaran tentang and pentingnya nasabah exceeding customers expectation external) dan berupaya melampaui harapan(internal nasabahand (internal dan eksternal)
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PT Bank Syariah Mandiri
Main Conducts Perilaku Utama •
Prudence:
Preserving trust and improvement. Menjaga amanah danperforming melakukancontinuous perbaikan process proses terus menerus
•
Competence:
Developing expertise based ontugas assigned and banker professional demand Meningkatkan keahlian sesuai yangjob diberikan dan tuntutan profesi bankir
•
Trusted &Trust:
Developing trustedperilaku and faithful Mengembangkan dapatconducts dipercaya dan percaya
•
Contribution:
Providing positive and optimum contribution Memberikan kontribusi positif dan optimal
•
Social & Environment care:
Having awareness theterhadap environment and social Memilikisincere kepedulian yang to tulus lingkungan dan sosial
•
Inclusivity:
Developing fostering attitude Mengembangkan perilaku mengayomi
•
Honesty:
Honest Jujur •
Good Governance:
Performing good Melaksanakan tatagovernance kelola yang baik
•
Innovation:
Developing process,service and product exceeding customers expectation Mengembangkan proses, layanan, dan produk untuk melampaui harapan nasabah
•
Service Excellence:
Providing bestlayanan serviceterbaik exceeding expecatition Memberikan yangcustomers melampaui harapan nasabah
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Annual Report 2013
The Company at a Glance Target and Objectives
T
arget and objectives of BSM are in line with its business, that will establish sustainable synergy. The BSM target and objectives are constituted on 5 (five) main working programs, a follows:
BSM Five Main Working Program 2013: 1. Productivity per employee realization from Rp66.40 million to Rp111.70 million, through: a. Net income growth at least to Rp1 trillion, b. Low cost fund improvement (minimum portion of 50%), c. Micro and SME finance growth (minimum portion of 74%), d. Business efficiency improvement (maximum CER at 55.04%), e. FBI growth minimum at RP1.23 trillion. 2. Maintaining assets quality (APYD/AP) maximum 2.42% and NPF Gross maximum to 2.30%, and NPF net maximum at 1.40%. 3. Service quality improvement to be the 1st rank in Sharia Banking. 4. Implementation of Saturn project (synergy with Bank Mandiri and other subsidiaries of Bank Mandiri), Corporate Plan 2013 and business alliance with PT Pos Indonesia and Core Banking System 2nd Phase 5. Developing employees competency and strengthening ETHIC Shared Values implementation.
10 Performance Priority 2013 1. Increasing net income at least reaching Rp1 trillion,
Annual Report 2013
2. Collecting third party fund at least Rp10.40 trillion and maintaining consumer fund portion minimum 55% from low cost fund portion minimum 50%, 3. Disbursing financing prudently minimum Rp9.8 trillion with Micro and SME finance portion minimum 74%, 4. Controlling Financing quality that NPF Gross maximum 2.30% with NPF Net maximum to 1.40% and APYD/AP maximum to 2.42%, 5. Improfing business efficiency that cost to income ratio maximum to 55.04%, 6. Collecting fee based income minimum at Rp1.23 trillion, 7. Winning 1st service quality rank in Shari Banking, 8. Implementing Saturn Project (synergy with Bank Mandiri and other subsidiaries of Bank Mandiri), Corporate Plan 2013 and business alliance with PT Pos Indonesia, 9. Implementing new 2nd Phase Core Banking System, 10. Strengthening Competency-Based Human Resource through e-Learning and Knowledge Management development and Corporate Values (ETHIC) internalization.
Key Strategy Transformation 2013 becomes the third year on BSM Second Transformation (2011 – 2015). The core of BSM Second Transformation is to increase productivity and develop synergy with Bank Mandiri Group. The productivity is carried namely throughout: business transformation, process transformation, IT system transformation and human resources transformation. Bank Mandiri has brought additional paid-in capital plan amounting to Rp30.78 billion as land and building in December 2013 from prior plan of Rp500 billion. Additional paid-in capital amounted to Rp500 billion will be altered to 2014 to strengthen capital and business expansion. Key business transformation conducted in 2013 constituted organizational and working procedure transformation at Bank Syariah Mandiri outlets and Product Centric to Customer Centric approach. The transformation is sequence of organizational and working procedure transformation at Head Office outlets and Product Centric to Customer Centric approach in prior years. Customer Centric approach is aimed that BSM to provide more accurate solution to conform with customers needs.
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PT Bank Syariah Mandiri
BSM is a company who upholds nationalism spirit. One of the nationalism spirit actualization is by choiring national song: Indonesia Raya in every official event held by the Company.
5. Seeking additional cash paid-in capital realization from Bank Mandiri amounted to Rp500 billion based on Business Plan 2014.
Transformation process is to advance Financing Operation Center (FOC) and Four Eyes Principle approach improvement to increase prudentiality on lending process. FOC is established at 5 (five) major cities such as Medan, Jakarta (2 FOC), Bandung, Surabaya and Makassar. On the other hand, to serve outlet distanced from those 5 (five) cities, FOC Community is also established in other 12 (twelve) cities.
Moreover, the Bank has also prepared several plans and developments in 2013 to achieve the corporate objectives, among others: 1. The Bank has implemented new Core Banking System (iBSM) second phase replacing former Core Banking. 2. Advancing Four Eyes and Segregation of duty principles implementation on lending via Front End (Financing Assessment and Financing Operation Center functions), and Back End (Recovery and Collection functions). 3. Advancing synergical initiative with Bank Mandiri as Holding via BSM deposit product selinng, pawn product selling, finance product referral for Commercial and Corporate segments. 4. Performing Talent Management and Knowledge Management development. 5. Performing Branching Strategy.
IT System transformation is continuing migration from former Core Banking System to new Core Banking System. The IT system transformation is aimed to assist the BSM Customers in performing every necessity banking transaction. Human Resources (HR) transformation is carried namely through Talent Management and Knowledge Management system improvement. The HR transformation is aimed to create reliable and highly engaged HR of BSM. Significant progress which are forecasted to be realized and business prospect in 2014 are as follows: 1. Advancing transformation process from Product Centric to Customer Centric approach. 2. Performing Corporate Plan project implementation and iBSM completion. 3. Advancing synergical project with Bank Mandiri and other subsidiaries of Bank Mandiri. 4. Carrying the Redefining and Strengthening The Fundamental of BSM.
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Annual Report 2013
The Company at a Glance
Banking Products and Services
Funding Products • Tabungan BSM Saving account in rupiah currency under Mudharabah Mutlaqah agreement with cash withdrawal facility on mutually approved conditions. • BSM Tabungan Berencana Time saving account with progressive profit sharing and guarantee of predefined fund target achievement and is complemented with insurance protection. • BSM Tabungan Simpatik Saving account based on the wadiah principle, in which cash withdrawal can be made at any time based on the mutually agreed conditions. • BSM Tabungan Mabrur Saving account to assist the society to plan hajj & umra pilgrimage • BSM Tabungan Mabrur Junior Saving account to assist the society to plan hajj & umra pilgrimage for children. • BSM Tabungan Dollar Dollar denominated saving account with ease of cash withdrawal and deposit transactions at any time or in accordance with BSM policy using withdrawal form.
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PT Bank Syariah Mandiri
transactions with the management based on the wadiah yad dhamanah principle.
• BSM Tabungan Investa Cendekia (TIC) Time saving account for financial planning especially for children education plan. • BSM Tabungan Perusahaan Saving account especially for collecting current accounts fund outstanding for legal entity company/institution using auto-save feature.
• BSM Obligasi Long-term securities based on sharia principle which obligated Entity (Bank Syariah Mandiri) to pay fee of Profit Sharing/Coupon and repay Sharia Bonds Fund during the maturity period.
• BSM Tabungan Kurban Saving account in Rupiah currency to assist the customers in planning Kurban and Aqiqah. • BSM Tabungan Pensiun Saving Account in Rupiah currency in cooperation with PT Taspen for Indonesia civil servant pensioners. • BSM TabunganKu Individual Saving Account with easy and simple requirement issued collectively by Indonesian banks to foster saving habit and improve society welfare. • BSM Time Deposit Time investment product with withdrawal only on certain maturity period based on mutually agreed condition. • BSM Deposito Valas Time investment product in foreign curency with withdrawal only on certain maturity period based on mutually agreed condition.
• BSM Giro Saving facility with withdrawal at any time by using cheque, promissory notes or other payment instrument under wadiah yad dhamanah principle. • BSM Giro Valas A USD-denominated saving account for ease of transactions with the management based on the wadiah yad dhamanah principle. • BSM Giro Singapore Dollar A SGD-Denominaed saving account for ease of transactions with the management based on the wadiah yad dhamanah principle. • BSM Giro Euro A Euro-Denominated saving account for ease of
PT Bank Syariah Mandiri
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Annual Report 2013
The Company at a Glance • BSM Pembiayaan Istishan Good procurement fnancing under Istishna scheme as short, medium and long-term financing to meet procurement requirement (istishna object), where the installment period exceeding goods procurement period (goods in process fi and the bank recognizes income which become the bank’s share during the installment period both when the procurement is based on goods shipping percentage or after the goods is finished. • Financing dengan Skema IMBT (Ijarah Muntahiyah Bittamilk) Ijarah Muntahiyah Bittamilk financing is a financing facility under leasing scheme on a leased object between the Bank and Customers during certain period ended with goods ownership for the customers. • Pembiayaan Mudharabah Muqayyadah Off Balance Sheet Mudharabah Muqayyadah Off Balance Sheet is Mudaharabah Muqayyadah fund disbursement where the Bank serves as channeling agent that the Bank did not face any risk. • BSM Customer Network Financing BSM Customer Network Financing (BSM - CNF) is working capital financing facility provided to customers (agent, dealer and others) for purchasing goods inventory for Partners (ATPM, producers/distributors and others) in cooperation with the Bank.
Financing Product • BSM Pembiayaan Mudharabah Financing facility where entire working capital needed by the customers facilitated by the bank. Benefit received is shared based on mutually agreed profit sharing scheme.
• BSM Pembiayaan Resi Gudang BSM Resi Gudang Financing is commercial transaction financing on tradable commodity/product generally with main collateral as financed commodity/product and located in independently controlled warehouse or place.
• BSM Pembiayaan Musyarakah Special Financing for working capital, where the fund from the bank is share of customers business capital and the profit is shared based on mutually agreed profit sharing scheme.
• BSM Pembiayaan Education Short and Medium Term Financing used to fulfill admission fee requirement for school/university/other education institution or enrollment fee during the academic year/new semester registration under ijarah agreement.
• BSM Pembiayaan Murabahah Financing based on trading agreement between the bank and customers where the Bank purchase goods required and re-sel to the customers at basic price added with profit margin based on mutually agreed scheme.
• PKPA Financing for Members of Cooperatives (PKPA) is financing for members of cooperative to fulfill the members’ consumer requirement (collective) who proposes financing to employees cooperative
• BSM Pembiayaan Talangan Haji Special bailout facility from the Bank to customers to cover hajj fund shortage/seat booking during the BPIH settlement.
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PT Bank Syariah Mandiri
• Pembiayaan Peralatan Kedokteran Medical Equipment Financing is a financing facility for the medical/health professionals to procure new supporting medical equipment.
• BSM Implan consumer financing product in the rupiah currency for company permanent employees through collective application (in group). • Pembiayaan Dana Berputar Working capital financing facility under musyarakah scheme which withdrawal can be conducted at any time based on customers real needs. • BSM Optima Pembiayaan Pemilikan Rumah BSM Griya Optima Mortgage is mortgage facility with additional benefit of extra financing faciltiy which can be withdrawn by the customers at particular time as long the collateral coverage is still adequate to cover total financing and by calculating customers debt to service ratio. • Pembiayaan Umrah Short-term financing allocated to support umra pilgirmage expense such as air fare, accommodation and other umra expenditure preparation under ijarah agreement. • BSM Pembiayaan Griya BSM BSM Griya BSM Financing is short , medium or long term financing to support housing (consumer) purchase both new and used, at developer circumstances under murabahah system. • BSM Pembiayaan Griya BSM Bersubsidi BSM Subsidized House Financing is a financing facility for procurement of the Simple Healthy House (RS Sehat/RSH) from a developer company with the government subsidy.
• BSM Sistem Pembaayaran Off Line Payroll BSM Off Line Payroll System can be used by an institution with large customers to perform payroll form institutional customers in entire BSM outlets. • Pembiayaan dengan Agunan Investasi Terikat Syariah Mandiri Financing with cash collateral where the investor defined restriction to the Bank on the investment place, method and object. • Pembiayaan kepada Pensiunan Financing for Pensioner is a consumer financing facility (including multi-use financing) for pensioners. Installments are directly deductable from the monthly pension fund.
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Annual Report 2013
The Company at a Glance • BSM GPRS Mobile Banking Banking service product based on cellular phone GPR technology which provides accessibility to the customers for various banking transaction at any time and at any place. • PPBA (Pembayaran melalui menu Pemindahbukuan di ATM) Payment services for institutions (education institution, special institution, non-bank financial institution) through In-house Transfer menu at ATM units • BSM Pooling Fund Facility provided by the Bank to support the customers in managing fund in each account owned by the customer automatically based on customers’ desire. • BSM Pertukaran Valas Rupiah exchange with foreign currency or vice versa provided by BSM for the customers. • BSM Bank Garansi Written promise from the Bank to third party stated that the Bank agree to fulfill liabilities with respective third party under certain period as agreed by insured party (customers) if failed to fulfill his/her liability.
Service Products
• BSM Electronic Payroll Simple, secured and flexible transaction for payment of employee salary through advanced technology facility of BSM.
• BSM Card A facility to perform several transactions such as fund withdrawal, payment and transfer with ATM BSM, ATM Mandiri, ATM Bersama and ATM Bank Card. Moreover, also functioned as debt card which can be used for shopping transaction in merchants with logo “Swipe your BSM card here.”
• BSM SKBDN Written promise based on applicant written request committing BSM as Issuing Bank to provide payment to recipient or receive and pay promissory notes on maturity period which withdrawn by the recipient, or delegating attorney to other banks to provide payment to the recipient or to negotiate withdrawn promissory notes on document submission (presently only for BSM to BSM).
• BSM Sentra Bayar BSM Sentra Bayar is a facility for receiving third party billing payment (PLN, Telkom, Indosat, Telkomsel). Sentra Bayar service can be carried with cash deposit or account debit through teller, ATM, SMS Banking or monthly auto debit.
• BSM Letter of Credit Written promise based on applicant written request committing BSM as issuing bank to provide payment to recipient or the order or receive and pay promissory notes during the maturity withdrawn by the recipient or delegating attorney to other banks to provide payment to the recipient, or to negotiate withdrawn promissory notes on document submission.
• BSM Mobile Banking Banking service product based on cellular phone SMS technology which provides accessibility to various banking transaction at any time and at any place. • BSM Net Banking Bank service facility for the customers for conducting banking transaction (defined by the bank) via internet network with computer facility.
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PT Bank Syariah Mandiri
• BSM Transfer Western Union Real-time on-line money remittance across different countries or in the same country (domestic). • BSM Kliring Bank draft collection on another bank that is located under the same clearance region. • BSM Inkaso Bank draft collection on another bank that is located under the same clearance region or in a different country; the collected fund is credited to the customer’s account. • BSM Intercity Clearing Bank draft (check/bilyet giro in rupiah) collection from a bank in a different clearance region, allowing for the customer to receive the collected fund the next business day.
• BSM Standing Order Bank Syariah Mandiri facility for the customers to simplify their financial transactions that need repeat transfer among accounts. By this service, the customers need only a single instruction for the bank. • BSM Autosave Automatic transfer service intra current accounts and saving accounts by depositing certain balance. • BSM Transfer Valas Foreign currency transfer consists of: • Outgoing transfer from BSM customer to customer of another bank at home country or overseas. • Incoming transfer from customer of another bank at home country of overseas to BSM customer.
• BSM RTGS (Real Time Gross Settlement) Rupiah currency interbank real-time transfer within the same city or different cities. Effective transfer within minutes. • Transfer Dalam Kota (LLG) Interbank fund transfer in the same local area of clearance. • Transfer D.U.I.T. (Dana Untuk Indonesia Tercinta) Overseas to Indonesia remittance service. Currently, BSM is in cooperation with Merchantrade Asia (MTA) Malaysia. • BSM Pajak Online Taxpayer facility to pay tax obligation (other than import tax payment) through automatic account debiting or by cash. • BSM Pajak Import Facility for importers to pay imported commodity tax via online channel as a requirement to ship the commodity from custom warehouse. • BSM Referensi Bank A reference letter issued by Bank Syariah Mandiri upon customer official letter for a specific purpose.. Characteristics
PT Bank Syariah Mandiri
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Annual Report 2013
The Company at a Glance Structure Organization Board of Sharia Supervisory Komaruddin Hidayat M. Syafii Antonio Mohamad Hidayat
Micro Banking Directorate
Network & Asset Management Directorate
Corporate Banking & Treasury Directorate
Hanawijaya
Sugiharto
Amran Nasution
Micro Banking & Hajj (MHD)
Small Banking (SBD)
Corporate Banking (CRD)
Andri V. Sabardi
Teguh Budi Santoso
Siti Nurdiana
Consumer Banking (CND)
Financing Restructuring (RSD)
Commercial Banking (CMD)
Rustanti Rachmi
Sulistyo Budi
Pawning (PWD)
Financing Recovery (FRD)
Jeffry Prayana
Dadang Hernawan
Anton Sukarna
Special Financing & Syndication (FSD) Indra Falatehan
Operation (OPD)
Alternate Channel (ALD)
Agus Tri Widodo
Zul Ikbal
Treasury & International Banking (TID) Tutuy Guntara
Network (NWD)
Retail Customer Management (RCD)
Firman Jatnika
Dewa Bagus Ivan Baruna
Procurement & Services (PSD) Subki Matsyah
Remittance Business & Transfer (RBD)
Region I-V
Erick Pardede
Corporate Secretary (CSD) Taufik Machrus
Branch
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PT Bank Syariah Mandiri
GMS (General Meeting of Shareholders) Audit Committee
President Director
Board of Commissioners
Nomination & Remuneration Committee
Achmad Marzuki Ramzi A. Zahdi Bambang Widianto* Agus Fuad Sulaeman
Yuslam Fauzi
Risk Monitoring Committee
Risk Management Directorate
Compliance Directorate
Achmad Syamsudin
Zainal Fanani
Risk Management (RMD)
Compliance (CPD)
M. Fanny Fansyuri
Priyo Prakoso
IT Strategy & Assurance (ISD)
Policy & Procedure (PPD)
Roosita Abdullah
Muslihan
IT Operation (IOD)
Human Capital (HCD)
Khoirul Huda
Achmad Fauzi
Accounting (ACD)
Learning Center (LCD)
Musdar Ayub
Gunawan Arief Hartoyo
Retail, Micro and Small Risk Assessment (RAD)
Planning Development & Performance Management (PMD)
Romadhona Fitri
Eka Bramantya Danuwirana
Commercial and Corporate Risk Assessment (CAD)
Tri Widiyono
Internal Audit (IAD) Mardiana
Risk Management Committee
Transformation Management & Corporate Culture (TCD) Putu Rahwidhiyasa
Bussiness unit Support unit
Legal (LGD)
Asriel Hay
Pursuant to BOD No. 15/1003-KEP/DIR August 20, 2013 on PT Bank Syariah Mandiri organization structure.
*) Is currently under fit and proper test by financial service authority PT Bank Syariah Mandiri
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Annual Report 2013
The Company at a Glance Operation Area
Region 3 Plaza Bumi Daya Lantai 22, Jl. Imam Bonjol No.61, Jakarta Pusat. Telp. (021) 3903969 Fax. (021) 3904395
South Sumatra Jambi Bengkulu Lampung Bangka Belitung Islands
West Java Central Java D.I. Jogyakarta West Borneo Region 1 Gedung BSM Lt. 4 Jl. A.Yani No. 100, Medan, Sumatera Utara Telp. (061) 4534466 Fax. (061) 4534456
Aceh North Sumatra West Sumatra Riau Islands
Region 2 Plaza Bumi Daya Lantai 22, Jl. Imam Bonjol No.61, Jakarta Pusat. Telp. (021) 3903969 Fax. (021) 3904395
Jabodetabek Banten
Region 4 Komplek Darmo Galeria Blok C-1, Jl. Mayjend Sungkono No.75, Surabaya, Jawa Timur. Telp. (031) 5610554 Fax. (031) 5610556
East Java Bali
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PT Bank Syariah Mandiri
Region 5 Jl. Dr. Ratulangi No. 88 B-C-D, Makassar, Sulawesi Selatan.Telp. (0411) 833070 Fax. (0411) 833069
Central Borneo South Borneo East Borneo North Sulawesi Gorontalo Central Sulawesi West Sulawesi South Sulawesi Southeast Sulawesi East Nusa Tenggara Maluku Papua
PT Bank Syariah Mandiri
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Annual Report 2013
The Company at a Glance Company Structure
PT BANK MANDIRI (Persero) Tbk.
SUBSIDIARIES
n
PT Bank Syariah Mandiri
Bank Mandiri (Europe) Limited
PT Mandiri Sekuritas
PT Bank Sinar Harapan Bali
PT Mandiri Tunas Finance
Mandiri International Remittance Sdn. Bhd.
n
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46
PT Bank Syariah Mandiri
JOINT CONTROLLED ENTITIES
AFFILIATED
PT AXA Mandiri Financial Services
PT Bank Syariah Mandiri
PT Mandiri AXA General Insurance
PT Kustodian Sentral Efek Indonesia
47
PT Bapindo Bumi Sekuritas
Annual Report 2013
Westech Electronics, Singapore
PT Sarana Bersama Pengembangan Indonesia
The Company at a Glance A. Shareownership Structure
The Bank Shareownership
Structure of PT Bank Syariah Mandiri (BSM) shareownership as end of 2013 is as follows: 1. PT Bank Mandiri (Persero) Tbk. owns 99. 99999966% or 297,804,386 shares of the Bank. 2. PT Mandiri Sekuritas, owns 0. 00000034% or 1 share of the Bank.
BSM Shareownership based on Deeds No. 25 dated December 30th, 2013
Shareholders
Total Shares
PT Bank Mandiri (Persero) Tbk.
Ownership Percentage
297.804.386
99,99999966
1.489.021.930.000
1
0,00000034
5.000
297.804.387
100,00000000
1.489.021.935.000
PT Mandiri Sekuritas Total
Total (Rp)
B. Shareholders Profile 1. PT Bank Mandiri (Persero) Tbk. is established on October 2nd, 1998 as part of banking restructuring program held by Government of Indonesia. Bank Bumi Daya, Bank Dagang Negara, Bank Ekspor Impor Indonesia and Bank Pembangunan Indonesia mergered into PT Bank Mandiri (Persero) Tbk. PT Bank Mandiri (Persero) Tbk. is a listed company at Indonesia Stoc Exchange.
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48
PT Bank Mandiri (Persero) Tbk. is operated on banking business.
Shareholders of PT Bank Mandiri (Persero) Tbk. are Government of Republic of Indonesia (60%) and Public (40%).
PT Bank Syariah Mandiri
2. PT Mandiri Sekuritas A subsidiary of PT Bank Mandiri (Persero) Tbk. which is operated on Management and Investment Consultant business. Founded on July 31st, 2000 as the merger of PT Bumi Daya Sekuritas, PT Exim Sekuritas, and PT Marincorp Securindo.
PT Bank Syariah Mandiri is not a public listed company, that the public, Board of Directors or Board of Commissioners of BSM do not have shares ownership on BSM.
C. Board of Commissioners Shares Ownership
BSM assures minority shareholders right fulfillment based on prevailing Law and Good Corporate Governance (GCG) principles.
Name
In 2013, the Board of Commissioners did not have any shares in BSM as well as other Banks and Companies.
Position
Shares
Shares in Other Companies
Independency Status
Achmad Marzuki
President Commissioner
None
None
Independent
Ramzi A. Zuhdi
Commissioner Member
None
None
Independent
Bambang Widianto*
Commissioner Member
None
None
Independent
Agus Fuad
Commissioner Member
None
None
Non-Independent
Sulaeman
Commissioner Member
None
None
Non-Independent
D. Board of Directors Shares Ownership
Name
In 2013, the Board of Directors did not have any shares in BSM as well as in other Banks and companies. The Board of Directors members are appointed from external party without any relation with BSM affiliation and or Controlling Shareholders.
Position In BSM
Shares
Shares in Other COmpanies
Independency Status
President Director
None
None
Independent
Hanawijaya
Director
None
None
Independent
Amran P Nasution
Director
None
None
Independent
Zainal Fanani
Director
None
None
Independent
Sugiharto
Director
None
None
Independent
Achmad Syamsudin
Director
None
None
Independent
Yuslam Fauzi
*) Is currently under fit and proper test by financial service authority PT Bank Syariah Mandiri
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Annual Report 2013
The Company at a Glance Shares Listing Chronology PT Bank Syariah Mandiri is a private company which does not issue shares to public that the information on Shares Listing Chronology and corporate action bringing change to the total securities are not available.
Other Securities Listing Chronology PT Bank Syariah Mandiri is a private company which does not issue shares to public that the information on other Securities Listing Chronology and corporate action bringing change to the total securities are not available.
Company’s Supporting Professional Institution Name and Address of Notary, Legal Counsellor and Public Accountant Office The Bank has appointed and hired list of Notary and Legal Counsellor to assist litigation which is related with the Bank Business Process. Following are list of the Bank’s Notary and Legal Counsellors:
a. Notary in Head Office
Notary: Badarusyamsi, SH, MKn. Address: Komplek Ruko Mutiara Faza Blok RD/4 Jl. Raya Condet No. 27, Jakarta. Notary: Chairul Bachtiar, SH Address: Jl. Rambutan Raya No. 29 Pejaten Barat, Jakarta-12510. Telp: (021) 7970216, HP: 081311075575
b. Legal Counsellor Legal Counsellor: SGS Consulting Consulting Law Office. Alamat: Jl. Cipaku III No. 7, Kebayoran Baru, Jakarta Selatan. Telp: (021) 72797881 Legal Counsellor: Widiani-Sulistiono & Partners. Alamat: Jl. Gandaria 2 No. 12 B, Kebayoran Baru, Jakarta Selatan. Telp: (021) 7393795-9487779571017795 Legal Counsellor: Law Office of Remy & Partners. Alamat: Jl. Gandaria II No. 12 B. Kebayoran Baru Jakarta Legal Counsellor: Soebagjo, Jatim, Djarot Law Firm Alamat: Jl. Taman Pinang Nikel Blok PR No. 35 Pondok Indah, Jakarta Selatan. Telp: (021) 75909097
c. Public Accountant Office Public Accountant Office: Purwantono, Suherman & Surja Address: Indonesia Stock Exchange Building Tower 2 Lantai 7 Jl. Jend. Sudirman Kav. 52 - 53, Jakarta 12190
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PT Bank Syariah Mandiri
Profile of Subsidiaries and Affiliations
Mandiri International Remittance Sendirian Berhad (MIR) A subsidiary of Bank Mandiri which is operated on Money Remittance business. MIR is operated since November 29th, 2009 with Headquarter in Kuala Lumpur, Malaysia.
PT Bank Syaraih Mandiri does not have any subsidiary but has several affiliations which are Subsidairies of PT Bank Mandiri (Persero) Tbk., namely as follows:
PT Mandiri Sekuritas (Mansek)
Bank Mandiri (Europe) Limited (BMEL) Founded in London on August 2nd, 1999. BMEL is a company which is operated in Banking industry, established to take over business activity of Bank Exim London Branch.
A subsidiary of Bank Mandiri which is operated on Stock Market business. Mansek is established on July 31st, 2000 and held operating status.
PT Bank Sinar Harapan Bali (BSHB) A Company operated in Banking industry since November 3rd, 1992.
PT AXA Mandiri Financial Services (AMFS) Bank Mandiri and AXA Joint Venture, AMFS is operated on Life Insurance business since December 2003.
PT Mandiri Tunas Finance (MTF) A Company operated on multi Finance business. MTF is established in 1989 and held operating status.
PT Mandiri AXA General Insurance (MAGI) Bank Mandiri and AXA Group Joint Venture, a Company operated on General Insurance business. MAGI was officially launched on October 27th, 2011 and held operating status.
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Annual Report 2013
The Company at a Glance Award In 2013, PT Bank Syariah Mandiri (BSM) obtained various awards from several institutions, both domestic and aboard. The awards reflect public trust to BS.
42 2013
30 29 16
12 10
8
2012
2011
2010
2009
2008
2007
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PT Bank Syariah Mandiri
BSM conducted call center Grand Launching under the new name of BSM Call 14040. The new call center launching is aimed to support customers service to the customers and business partners
Rating BSM always improve quality in various aspect. In 2013, PEFINDO ranked AA+ (idn) for the Company.
AA+(idn) AA+(idn) AA+(idn) 2011
AA-(idn) AA-(idn) 2009
A+(idn) A+(idn) 2007
A(idn)
2013
FitchRating
2010
FitchRating FitchRating
2008
FitchRating FitchRating RATING
2006
AA+ (idn), Pefindo 2013
FitchRating
PT Bank Syariah Mandiri
2012
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Annual Report 2013
The Company at a Glance Corporate Event
30
January BSM won The Best Indonesia Islamic Bank Awards from Asiamoney
SThroughout 2013, PT Bank Syariah Mandiri (BSM) held various corporate events including partnership, corporate promotion and Corporate Social Responsibility (CSR) activity.
26
February BSM won The Best Islamic Bank in Indonesia 2013 from Euromoney
11
March BSM held Entrpreneurship Training and Working Capital donation
15 April
President Director of BSM received CEO Inovatif award from Gatra magazine
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PT Bank Syariah Mandiri
26
29
September
May
General Meetings of Shareholders Fiscal Year 2012
BSM won Best Brand Award 2013 from SWA magazine in cooperation with MARS
13
01
June
October
BSM in cooperation with Mizan Publisher held gala dinner with Karen Armstorng as sourceman
BSm won Best Performance Award in Indonesian Banking Award 2013 from Tempo magazine in cooperation with CRMS
31
01
July
November BSM held 14th Anniversary Celebration carrying the theme “Stronger Fundamentals for Greater Indonesia
BSM won Best Syariah Award 2013 from Investor Magazine
19 - 21
01
August
December
BSM in cooperation with Bank Mandiri to synergize BSM deposit service in Bank Mandiri network
PT Bank Syariah Mandiri
End Year National Coordiantion Meeting 2013
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Annual Report 2013
The Company at a Glance List of Awards
For the performance achieved in 2012 and 2013, the Company and President Director won 42 awards both at national and international levels namely on GCG, Financial Performance, Service, Marketing and Human Capital aspects as illustrated on following table:
No.
Name of Awards
Award Organization
Name of Achievement
Awarding Date
1.
The Best Brand Equity Champion (Islamic Banking:Silver)
Markplus Insight Magazine
Award for highest top of mind awareness bank from Markplus in cooperation with Markplus Insight Magazine .
January 31, 2013
2.
Excellence Service Award 2013
Bisnis Indonesia & Carre
Award for Excellent Predicate company in providing positive experience to the customers based on survey assessment.
February 7, 2013
3.
Mandiri Excellence Service Award 2013
Bank Mandiri
Award from Bank Mandiri to subsidiary on culture execution event.
February 6, 2013
4.
Platinum Trophy Award 2013
Karim Consulting
Award on corporate financial performance. Bank Syariah Mandiri won Islamic Finance Award in five consecutive times from Karim Consulting.
February 22, 2013
5.
The Best Islamic Bank 2013
Karim Consulting
Award from Karim Consulting on corporate overall performance. BSM won asThe Best Islamic Bank from Karim Consulting in 2012.
February 22, 2012
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PT Bank Syariah Mandiri
No.
Name of Awards
Award Organization
Name of Achievement
Awarding Date
6.
The Most Expansive Financing
Karim Consulting
Award from Karim Consulting on company’s performance in disbursing financing. BSM is highest Sharia Bank in disbursing finance.
February 22, 2012
7.
The Most Profitable
Karim Consulting
Award from Karim Consulting on company’s performance in achieving income. BSM is the highset sharia bank in income realization.
February 22, 2012
8.
The Best Islamic Bank in Indonesia 2013
Award from internasional Euromoney for best sharia bank in Indonesia based on survey.
February 26, 2013
9.
Indonesia Middle Class Brand Consumers’ Choice
Best Middle Class Consumer Preferred Brand Award at 9 cities in Indonesia. The Surve is conducted by Inventure in cooperation with SWA Magazine.
February 27, 2013
10.
Care Towards The Special Needs of Muslim CommunityThe Best Islamic Retail Bank in Indonesia
PT Bank Syariah Mandiri
Internasional Euromoney
SWA Magazine
Markplus Inc.
57
Award for the Bank which complies with Moslem Community Special Needs in Indonesia related with Financial Transaction. The Award is based on a suvey conducted by Markplus Inc in cooperation with Journal of Islamic Marketing, University of Greenwicth.
Annual Report 2013
March 18, 2013
The Company at a Glance No.
Name of Awards
Award Organization
Name of Achievement
Awarding Date
11.
CEO Inovatif 2013
GATRA Executive Forum
Award for Executives who is considered giving positive contribution not only for the Company, but also for progressive growth towards more positive development to Indonesian society.
April 15, 2013
12.
Indonesian Bank Loyalty Award 2013 (Rank II)
Infobank & Markplus Insight
Award for Sharia Bank with high customers loyalty based on survey held by Infobank and Markplus Insight.
April 17, 2013
13.
Service Quality Award
CCSL & Service Excellence Magazine
Award on company’s service quality under survey method to the customers. The research indicators are accessibility, service process, people, service solution. The survey was held by CCSL and Service Excellence Magazine.
May 28, 2013
14.
Corporate Image Award
Bloomberg Businessweek & Frontier Consulting
Award for the Company with highest rating on survey with indicators of parameter quality, attractiveness, performance and responsibility. The Survey was held by Frontier Consulting.
June 12, 2013
15.
Best Service Excellence Bank Rank: II
MRI & Infobank
Award for service quality with 8 indicators of security, teller, customer service, room convenience, toilet, Banking Hall equipment, and ATM. The Survey was held by MRI in cooperation with Infobank.
June 14, 2013
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PT Bank Syariah Mandiri
No.
Name of Awards
Award Organization
Name of Achievement
Awarding Date
16.
The Best Islamic Bank in Indonesia
The Asset Hongkong
Award from The Asset Hongkong as Indonesian Sharia Bank with Best Financial Performance in 2012.
July 3, 2013
17.
The Best Islamic Retail Bank in Indonesia
The Asset Hongkong
Award from The Asset Hongkong as Indonesian Sharia Bank as best in Retail banking transaction.
July 3, 2013
18.
The Best Islamic Trade Finance Bank in Indonesia
The Asset Hongkong
Award from The Asset Hongkong as Indonesian Sharia Bank with best Trade Finance Transaction.
July 3, 2013
19.
Platinum Trophy Award
Infobank
Award from Infobank on Company’s Financial Performance in 2012, BSM won award as Excellent Perforamnce Bank in more than 10 consecutive years.
July 5, 2013
20.
Bank Berkinerja Sangat Bagus.
Infobank
BSM won Excellent Performance award in 2012 for capital between Rp1 trillion to Rp5 trillion.
July 5, 2013
PT Bank Syariah Mandiri
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Annual Report 2013
The Company at a Glance No.
Name of Awards
21.
Indonesian Most Admired Knowledge Enterprise Award
22
Award Organization
Name of Achievement
Awarding Date
Dunamis
Award for Knowledge Management implementation in the Company. The assessment was held by Dunamis.
July 24, 2013
Best Syariah 2013
Grup Majalah Investor
Award as Best Sharia Bank from financial performance for Bank with Assets exceeding Rp10 trillion. The awarding organizer is Investor magazine.
July 31, 2013
23.
Word of Mouth Marketing 2013
Majalah SWA & Onbee
Word of Mouth Marketing Award with assessment indicators are talk, promo and social network. The Survey was held by SWA and Onbee.
August 29, 2013
24.
Indonesia Woman Survey 2013
Kartini Magazine
Best Women Brand Award based on Kartini Magazine Survey.
August 29, 2013
25.
The Best Islamic Bank 2013
Asiamoney
The Best Islamic Bank in Indonesia Award based on Asiamoney polling to 6000 institutions in Asia.
September 26, 2013
26.
Indonesia Best Brand Award 2013
SWA dan MARS
Brand Popular Award based on Top of Mind Advertising and Top of Mind Brand Variables, Bank with Best Product, Bank with Best Service, Trusted Bank, Strongest Bank and Market Share. The Survey was held by SWA and MARS.
September 26, 2013
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PT Bank Syariah Mandiri
No.
Name of Awards
Award Organization
Name of Achievement
Awarding Date
27.
Anugerah Perbankan Indonesia (Best Performance)
Economic Review
Award for Best Financial Performance Sharia Bank for Core Capital to Rp1 to Rp5 trillion core capital. The award organizer was Economic Review.
September 26, 2013
28.
Anugerah Perbankan Indonesia (Best IT)
Economic Review
Award for Sharia Bank with Best Inforamtion Technology Implementation for Core Capital Category between Rp1 to Rp5 trullion. The Award organizer was Economic Review.
September 26, 2013
29.
Anugerah Perbankan Indonesia (Best CEO Leadership)
Economic Review
Award for Sharia Bank with Best CEO Commitment for Core Capital category between Rp1 to Rp5 trillion. The Award organizer was Economic Review.
September 26, 2013
30.
Anugerah Perbankan Indonesia (Best Modal Inti)
Economic Review
Award for Sharia Bank with Largest Core Capital for Core Capital category between Rp1 to Rp5 trillion. The Award organizer was Economic Review.
September 26, 2013
31.
Indonesian Banking Award 2013
TEMPO & CRMS
Award as Best Performance for Financial Performance aspect for Sharia Bank BUKU 2 category. The award was handed by Tempo Magazine and CRMS.
October 1, 2014
32.
Annual Report Award 2012
Ministry of Finance, BI, Bapepam-LK, IDX, IAI, KNKG, Taxation General Directorate
Award from Ministry of Finance, BI, Bapepam-LK, IDX, IAI, KNKG, Taxation General Directorate on Information Disclosure on Annual Report 2012. BSM Annual Report 2012 obtained Best Score for Non-Listed Private Financial institution category.
October 17, 2013
PT Bank Syariah Mandiri
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Annual Report 2013
The Company at a Glance No.
Name of Awards
33.
Best Syariah Finance 2013
34.
Indonesia Middle Class Brand Champion 2013
35.
Indonesia Middle Class Brand Champion 2013
36
Indonesia Brand Champion 2013
37.
38.
Award Organization
Awarding Date
Award of Company’s financial performance based on financial statement 2012.
November 7, 2013
SWA Magazine & Inventurr
Award based on brand survey preferred by middle class community for Motor Vehicle Ownership loan in Sharia Bank. The organizer was SWA Magazine in cooperated with Inventur.
October 31, 2013
SWA Magazine & Inventur
Award based on brand survey preferred by middle class community for Mortgage in Sharia Bank. The organizer was SWA Magazine in cooperated with Inventur.
October 31, 2013
Marketeers & Markplus
Award for Mortgage Product: Gold Category for Bank with Assets under Rp75 Trillion. The award was handed by Marketeers in cooperation with Markplus.
October 31, 2013
IT Banking Excellence Award
Warta Ekonomi Magazine
Award on Information Technology implementation in relation with corporate business performance. The award organizer was Warta Ekonomi.
November 13, 2013
Indonesian Customer Satisfaction and Loyalty 2013
SWA Magazine & Frontier
Award based on survey for customers satisfaction and loyalty, held by SWA Magazine in cooperation with Frontier.
December 5, 2013
Annual Report 2013
Infobank
Name of Achievement
62
PT Bank Syariah Mandiri
No.
Name of Awards
Award Organization
Name of Achievement
Awarding Date
39.
Indonesia Human Capital Study Award 2013 (The Best for CEO Commitment)
Dunamis
Award on Human Capital Development Implementation Survey in the Company. Organizer was Dunamis.
December 5, 2013
40.
Indonesia Human Capital Study Award 2013 (The Best for Human Capital Initiative Recruitment)
Dunamis
Award based on Indonesia Human Capital Study (IHCS) survey. The organizer was Dunamis. In the survey, BSM was assessed having initiative to perform best recruitment.
December 5, 2013
41.
The Most Trusted Companies
SWA Magazine & IICG
Award from SWA Magazine in cooperation with Yayasan IICG on knowledge-based GCG implementation in 2012. The award was based on Corporate Governance Perception Index by IICG.
December 16, 2013
42.
Net Promoter Leader
The award was based on Corporate Product promotion product by the community through social media. The Survey was carried by Hachiko in cooperation with SWA magazine.
December 18, 2013
SWA Magazine & Hachiko
PT Bank Syariah Mandiri
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Annual Report 2013
Human Resources Development
BSM seeks to ensure availability of top talent management on strategic positions, both presenty and in years to come. Therefore, BSM implements Talent Management Program.
Laporan Tahunan 2013
64
PT Bank Syariah Mandiri
Yogyakarta - Keris as artwork and spiritual art
PT Bank Syariah Mandiri
65
Laporan Tahunan 2013
Human Resources Development Human Resources Development
H
uman resources is a dominant factor which determines a Company’s success, as a potential derived from human capacity as the principal capital for the organziation in achieving its target. To ensure that top talent employees availability on strategic positions both presently and in years to come, the Bank implements Talent Management.
Talent Management System
Talent Retention
Talent Development
Talent Identification
Talent Acquisition
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PT Bank Syariah Mandiri
A. Employees Profile
2) Employees profile based on career level
As end of 2013, total employees of the Bank reached to 16,945 employees, grew by 5.91% from 15,999 employees as end of 2013. Increase/additional employees number is proprotional with the Bank’s expansion from number of Branch Office and Outlet under its supervision in various area.
2012
Education Level
BSM
Master Degree
4
Bachelor Degree
7.835
Diploma
1.163
Total
1.927
8.022
1.585
393
1.134
594
99
4.276
89
5.184
7
68
7
68
9.331
6.668
9.513
7.432
9.331 9.513
9.000
7.802
8.000
6.668
7.000 5.580
6.000
7.432
5.722
5.000
2.000 1.000
264
549
722
959
1.913
1.377 98
119
2.127
2.032
2.228
379
594
775
2.547 946
3.109 2.322 1.435
41 11 11 6 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 BSM Employees
Outsource
2) Employees profile chart based on education level 9.762 9.607
10000 9000 8000 7000 6000
5.273
5000
4.375
4000 3000
1.556 1.728
2000 1000 0
231
262
Master
75 Diploma
Bachelor 2012
PT Bank Syariah Mandiri
SHS
JNS (others)
2013
67
75
Annual Report 2013
Outsource 1
1) Employees Profile and Trend 10.000
BSM 261
Junior (Other)
3.000
Outsource
227
High School
4.000
2013
Human Resources Development B. Recruitment
3) Employees profile based on career level Career Level
2012
Executive Vice President Senior Vice President Vice President Assistant Vice President General Manager Assistant General Manager Senior Manager Manager Deputy Manager Assistant Manager Associate Manager Senior Executive Executive Junior Executive Associate Executive Non Clerk Outsource Total employees
2013
9 21
3 22
5 26 46 107 291 357 351 752 819 1.457 2.637 2.386 4 63 6.668 15.999
8 30 58 114 285 393 408 882 774 1.469 2.595 1.601 813 58 7.432 16.945
Rapid and dynamic growth drive BSM to recruit integrated, innovative and knowledgable resources that will carry sound and efficient banking operational activity. To meet respective demand, BSm carries regular and special recruitment process and program.
Regular Recruitment Program
A recruitment program to obtain employee candidates based on vacant shedule. Employee candidate selection and appointment refers to required qualification in hiring employees for working units at Head Office, Regional Office and Branch Office of BSM nationwide.
Employees profile chart based on Career Level 3.000 2.637 2.595 2.500
2.386
813
1.469 1.457
819 774
1.500
2012
1.601
882 752
1.000
408 351 393357 58
2013
2.000
63 4
291 285
500 114 107 58 46
30 26
8 5
22
21
3 9
k er er er er er er er nt nt nt nt ve ve ve ve ler ag ag ag ag ag ag ag uti uti uti uti ide ide ide ide nC an an an an an an an res res res res xec xec xec xec M M M M M M M P P P P E E E E No l l r t y e e e e e t ra ra io ior ior ice iat tan iat Vic Vic Vic pu ne ne rV Sen sis Jun Sen soc nt ve De soc Ge Ge As nio As uti sta As e nt i c S s a e t As Ex sis As
Annual Report 2013
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0
PT Bank Syariah Mandiri
Regular recruitment program is started with administrative selection, general knowledge test, psychotest, cross reference process (data clarificaiton to former company), interview test and medical check-up.
Recruitment mechanism scheme:
Special Recruitment Program
a. Early Recruitment Program (ERP)
Early Recruitment Program (ERP) Fresh graduate employee recruitment program in cooperation with university/educational institution. ERP program participant is student who meet BSM criteria, which will obtain training based on certain competency required by BSM.
In 2012, Bank Syariah Mandiri developed partnership with 38 (thirty eight) state and private universities from all over Indonesia.
Total participants who registered and participated on ERP program reached to 1,032 participants in 2013 and total recruited employees were 266 employees.
Administration Test,
General Competency Test,
Psychological Test, User
Interview Test,
Medical
b. Management Development Program (MDP) A 9 months educational program to develop BSM employees candidate potential and talent. To participate on the program, BSM employee candidate not only hsa to have good academic record but also active in student or social organization. MDP is a mechanism to prepare future Bank Syariah Mandiri leadership candidate.
C. Organization and Position Rapidly changing organization circumstance both from regulation, customers demand and operational aspect drove the Bank to adjust its organization. Therefore, the Bank has to design and prepare job description to comply with organization demand. Moreover, organization effectiveness improvement to achieve expected corporate vision an dmission has to focus on employees’ conduct. Improvement of organizational effectiveness is also carried through position focus based on competency that during the organizational development process will be more dynamic and potential. To overcome aforementioned condition, BSM
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Annual Report 2013
Human Resources Development has carried several organization structure planning and preparation, as follows: 1. Detailing organization structure changing to the lowest level by aligning with BSM segment centric business model. 2. Centralizing the Bank’s operational to support business model transformation which will affect on organization structure changing. 3. Recruiting employees by concerning competency gap on the new position. 4. Performing transformational management to ensure every position has been appropriately integrated. 5. Organization structure Design and organization structure implementation roadmap starting from transition to end state phase at BSM in 2015.
Remuneration Scheme
D. Remuneration System An initiative to support BSm target is throughout competitive remuneration appraisal as one of employee retention program realization. Moreover, BSM also seeks to provide attractive remuneration as an attractiveness to recruit high-quality employee. Remuneration program which had been carried by BSM in 2013 was by appraising employees basic salaries under general increase method in reference with inflation & merit increase which also related with employees performance. In 2013, the Management approved employees basic salaries appraisal to average of 37%.
Base Salary
Compensation
Allowance
Remuneration Variable
Grade Allowance Position Allowance Expertise Allowance Oil Fuel & Cellular Phone Allowance. Cola Allowance Expensiveness Allowance. TPUK Bonus Leave & Leave Allowance Jamsostek DPLK Official Vehicle Housing Uniform Sports & Religious Activity Career Employee Health Employee Loan Official Travel Moving Allowance
Benefit
Annual Report 2013
Basic Salary Religious Holiday Allowance (THR)
70
PT Bank Syariah Mandiri
E. Employees Assessment
Performance evaluation is referring to main principle oriented on target achievement and encorouging the employees to further develop competency in delivering works. Unit Head and the Superior are in charge to provide direct guidance and motivation in form of coaching, counselling and feedback to their subordinates that will perform better work and prevent target acheivement failure by the end of the year.
Performance assessment is a process inside the organization to measure employees performance under set of standards and communicate the mechanism with the employees. One of the methods to assess corporate performance is by reviewing employees performance. The assessment period conducted since January 1 to December 31 in current year. The assessment review phase is carried quarterly and annually in current assessment period.
Performance evalaution consists of 2 (two) main components, as follows: a. Target: Indicating quantiative aspect from performance target (result oriented). b. Process: Representing qualitative aspect of performance (process oriented).
Performance planning system is integrated among Corporate, Directorate,Working Unit and Individual with several phases, as follows:
First Phase: The Bank prepares workign target which overall stated under Bank Business Plan (RBB) which had been approved by Board of Directors/Shareholders.
F. Reward and Punishment Policy
Second Phase: Working Unit stipulates Working Unit target based on RBB in form of BSC. The Working Unit target is directly used as Working Unit Head target in form of Division BSC, Regional Office and KPI of Branch Office.
Third Phase The Working Unit prepares working target for each employee based on each Unit target. The target is calliberated by Unit Head to each employee by referrign to strategic target based on BSC (KPI) and routinity target based on job description. Evaluasi kinerja merupakan proses penilaian pencapaian hasil kerja dengan cara membandingkan antara target dengan realisasi pencapaian sasaran strategis BSC (KPI) dan sasaran rutinitas berdasarkan uraian jabatan (job description).
Besides regular employes development program implementation, the Company also conducts employees competency improvement program through job enrichment & job enlargement as employees assignment on various projects namely Corplan, CBS, Saturn as well as other strategic projects and positions. Total developed employees on those programs reached to 246 employees in 2013. The Company also continues to develop employees regularly through grade promotion and appraisal as well as level promotion. In 2013, total employees who received grade and/or position promotion reached to 2,668 employees and position promotion to 659 employees. The promoted employees, both on grade and position have prior participated on administrated and competency test.
Performance evaluation is an assessment process on working result achievement by comparing BSC (KPI) strategic target achievement to routine target based on jobs description realization.
PT Bank Syariah Mandiri
BSM always attempts to improve employees welfare based on performance acheivement under guaranteed acsh mechanism implementation and other employment facilities. Rewarsd system in BSM is applying performance assessmetn basis carried quarterly. Several reward program which had been carried by BSM to the employees are namley throughout annual bonus, reward incentive and Master Degree Scholarship program.
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Annual Report 2013
Human Resources Development In 2013, the Company distributed employees bonus by referring to performance evaluation 2012. Total bonus distributed to the employees was averagely to 3.5 times from salary.
Bank Syariah Mandiri designs position group to assist the management in implementing employees rotation/ mutation and development based on each position career path.
Besides appreciation as employees performance reward, BSM also applies fair punishment syste for employee who voilated BSM regualtion. The development charged was as warning, notification and penalty based on elvel of committed violation.
Competency model which has been aligned with position group, will be later applied to formulate competency profile, a set of competency which has to be have by every employee/position to optimally carry assignment which also equipped with proficiency level submitted by respective employees.
G. BSM Competency Potential
The promoted employee, both by grade and position, will firstly participate on series of administrative and competency tests. Technical (hard) competency is assessed through e-Learning media and conduct (soft) competency is assessed through competency assessment.
Competency refers to set of knowledge, capacity and character required by an employee to carry his/her assignment optimally. The competency is brought from business startegy, corporate values as well as vision and mission. Competency characteristcs are namely: 1. Contribution on organizational success. 2. Can be observed and measurable. 3. Able to differ prominent attitude delivered by an employee. 4. Able to be developed under various methods. To align competency with Bank Syariah Mandiri objective and purpose, the Company determines required competency for Bank Mandiri employees to work optimally. Writen description on required competencies are stated on written explanation named as competency model. Bank Syariah Mandiri competency model consists of type and definition of competency, competency level, and Key Behavior Indicaor which can be observed and measured.
Annual Report 2013
1. Officer Development Program (ODP)
ODP is a program specially dedicated for promoted employee with position level shifting. An employee from staff level who is promoted to Officer Level. Number of staff level employee who passed ODP program in 2013 amounted to 314 employees.
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PT Bank Syariah Mandiri
BSM ODP Program Scheme
No Pass
No Pass
Start
Promotion D1
STOP
STOP
Education
Competence Selection
Admin Selection
Assesment Center
Strength Based
General Banking Online Test
MMDP is a program for Junior Officer level employee to be promoted to Middle Manager Level. In this program, the employee will be equipped with soft and hard skill competencies as well as receives self-development material such as time management, leadership and presentation skill effectively. Number of employees passed from MMDP program in 2013 was 67 employees.
3. Senior Management Development Program (SMDP)
Competency – Based Human Resoruces Management (CBHRM) is an approach in building excellent human resources management centralizing on competency focus. This is aimed that the Company will increase effectiveness and consistency in implementing recruitment, promotion, rotation/mutation, remuneration, education and training, career development, performance management as well as strategic planning on human resources aspect optimally.
A program for employee on Manager Level to be promoted to Head Group and Regional Head Level. The development program is a series of employees evaluation and development activities which is well-
PT Bank Syariah Mandiri
Self Leedership & Project Assignment
planned and systematic as well as formulated basd on targeted Level characteristic. Number of staff level employee who participated on MMDP program in 2013 was 9 employees. Refinement of SMDP program scheme will always be carried as an improvement of the program implementation.
2. Middle Management Development Program (MMDP)
Technical Banking & OJA
Placement
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Annual Report 2013
Human Resources Development List of HR Development Consultant No
Consultant Name
Purpose
Working Scope
Description
1
Tower Watson
Salary Survey
Compensation
Performance and Reward Management Division
2
Dayamandiri Dharmakonsolindo
Actuarial
Compensation
Performance and Reward Management Division
3
Konsultan Saifuddin Bachrun
Remuneration Consultant
Compensation
Performance and Reward Management Division
4
PT Cipta Busana Jaya
Man Uniform Production
Benefit
Performance and Reward Management Division
5
PT Dekatama Centra
Woman Uniform Production
Benefit
Performance and Reward Management Division
6
PT Mido Indonesia
Basic Uniform production
Benefit
Performance and Reward Management Division
7
PT Aneka Search Indo.
Employees Assessment and Appointment Rest
Recruitment
Recruitment & Placement Division
8
PT W BSDM
Outsource employees
Recruitment
Recruitment & Placement Division
9
Pramita
Employees candidate medical checkup laboratory
Recruitment
Recruitment & Placement Division
10
Prodia
Employees candidate medical checkup laboratory
Recruitment
Recruitment & Placement Division
11
Lead Pro Consulting
Strength Based ODP
People Development
Organizational and People Development Division
12
Expert
ODP Assessment
People Development
Organizational and People Development Division
13
PPM Management
- SMDP (Senior Management Development Program) - MMDP (Midle Management Development Program)
People Development
Organizational and People Development Division
14
PT. Piranti
Absence Machine Management
Operation
Operation & Services Division
15
Tower Watson
HRMS Project Supporting Consultan
HCD
Operation & Services Division
H. Employees Development and Training To ensure that the employee has competency complying with business demand, the Bank provides several trainings which engages entire line of the organization. The program is reflected on structurized training program based on competency profile and business line, including
Annual Report 2013
1. Orientation and Development Program
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Orientation and Development Program is an educational stage to support employees career stage from Banking Staff Program, Officer Development Program, Management Development Program, Middle Management Development Program.
PT Bank Syariah Mandiri
2. Banking Academy
7 subsidiary program for 7 position groups, Banking Officer Program 2 positiong groups and ODP provides 8 position groups.
Banking academy training program aims to develop employees knowledge, expertise and conduct which is carried structurally throughout series of programmed activities.
In 2013, the Bank also conducted Middle Manager Development Program (MMDP) participated by 88 participants for employees to be promoted to Manager level. The Bank also held Manager Development Program (MDP) participated by 40 participants to prepare future leaders.
Lesson through e-Learning will always be developed to develop employees competency. Every current employee
3. Enhancement Program
Enhancement program aims to maintain employees knowledge, expertise and conduct to always be updated based on bank business demand, industrial dynamics and global best practice in form of workshop, trainign, certification program and Master Degree scholarship program.
Education and Training Program Scheme Banking Staff Program
Orientation & Development Program
Leadership Development Program
Micro. Retail & Consumer Banking Academy
Training Program
Commercial & Corporate Banking Academy
Banking Academy
Operation & Support Academy Sales & Services Academy Leadership & Strategic Skills Enhancement Business & Operation Banking Competencies Improvement
Enhancement Program
Public Training, Scholarship & Certification
Throughout 2013, the Bank succeeded in carrying employees training and education program with total class to 232 in house training classes participated by 6,118 participants. The Bank also participated 247 participants on several public trainings in 2013. Improvement from program quality aspect, the Bank provides new employees education program (Banking Staff Program & Banking Officer Program) and promotional educaiton as specific Officer Development Program (ODP) based on position group. Banking Staff Program education provides
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can access various training module on e-Learning. Module reading and online test activities are also part of pre-class training integrated with in-class training activity.
In 2013, the Bank launched Knowledge Management program by opening BSM KM Portal and established several Community of Practice to accelerate employees learning process to be more optimum. In 2013, BSM was also selected as one of Indonesian MAKE Award 2013 winners altogether with other 10 companies.
Annual Report 2013
Human Resources Development Employees Education and Training Program
The Bank has educational and training program for the employee to build competency and knowledge to support each employee’s performance and career progress.
1. New Banking Staff Education Program (BSP)
Banking Academy held by the Bank in 2013 applied type of training as learning, training, workhop and socialization activity.
In 2013, the Bank conducted in-class training program on banking academy group to 112 training program types, 232 classes adn 6,118 participants with data, as follows:
Banking Academy Implementation Data Type of Training
The Bank held Banking Staff Program to sharpen newly recruited employees expertise specification. BSP learning method applies total solution belnded learning method which combined lesson through e-Learning, in-class, on the job training/ individual project assignment, coaching and mentoring to ensure achievement of education purpose by the learning participants. BSP consists of various sub-program, as follows:
Total Participant
Education
45
70
1.566
Training
47
131
3.435
Socialization
5
13
298
Workshop
15
18
819
Grand Total
112
232
6.118
Enhancement program is aimed to maitanin employees knowledge, expertise and conduct to be always updated based on the bank business demand, industrial dynamics and global best practice, in form of:
a.
Workshop
2. Banking Academy Banking academy training program is aimed to deelop employes knowledge, expertise and conduct carried structurally throughout well-programme activitiy series, as follows: a. b. c. d.
Total Class
3. Enhancement Program
a. Staff Level 1) BSM BSP for General, 2) BSM BSP for Frontliners, 3) BSM BSP for Operation Banking, 4) BSM BSP for Business Banking, 5) BSM BSP for Retail Banking, 6) BSM BSP for Micro Financing Analyst, 7) BSM BSP for Pawning Staff. b. BSP for Officer c. BSP for Manager
Total Program
Workshop is an activity facilitated by the Bank aiming to generate recommendation to develop knowledge and other regulations on behalf of the Bank’s progress which is carreid strucurally throughout series of stipulated activities. The Bank has participated 95 employees on certification program in 2013.
Micro, retail & consumer banking academy Commercial & corporate banking academy Operation & support banking academy Sales & service banking academy
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PT Bank Syariah Mandiri
b.
c.
Certification Program
capacity aspect including entire Company’s line on each line by structure, including:
Certification program is employee knowldege and expertise development and measurement program on certain job sector. The Bank has carried several certificaiton program such as risk management, mutual fund trader, bancassurance, wealth management, IT, audit, HR pracice and other certification program.
1. Management Development Program (MDP)
The program is aimed to develop the Bank’s employee competency standard based on industrial standard. The Bank has participated 746 employees on certificaiton program in 2012.
2. Officer Development Program (ODP)
Public Training
d.
Public Training is an education and training program which the implementation is planned and managed by external party (both domestic and overseas), while the Bank will only send the participants to participate on the training. BSM has delegated 253 employees to participate on 103 public training in 2013.
ODP is a program dedicated to staff employees to be promoted to officer level. The Bank has carried ODP which participated by 417 employees in 2013 with 314 graduated employees.
3. Middle Manager Development Program (MMDP)
Master Degree Scholarship Program Master Degree Scholarship Program is a Master degree program funded by the Company for eligible employee based on criteria determined by the Bank. The Bank had sent 19 employees to participate on Master Degree Scholarship Program in 2011, 12 employees in 2012 and 24 employees in 2013.
MMDP is a program dedicated for officer employees to be promoted to Middle Manager Level. The Bank has carried MMDP participated by 201 employees in 2013 with 67 graduated employees.
4. Senior Manager Development Program (SMDP)
Leadership Development Program Besides development through training and education, the Bank also conducted development from employees leadership
PT Bank Syariah Mandiri
The program is aimed to prepare the Bank’s future leaders. The Bank has conducted MDP Batch 13 and Micro which graduated 46 employees in 2013.
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SMPD is a program dedicated for officer employees to be promoted to Senior Manager Level.
Every employees leadership training, education and development program is fully managed by the Bank with trainer from internal or external party. Every activity is supported by budget allocation to Rp31.853 billion.
Annual Report 2013
Human Resources Development 1. Blended Learning
Within the allocated cost, had successfully enhanced employees learning culture both through in-class, coaching & monitoring or self-learning through interactive learning process at e-learning.
Blended Learning is a learing method combining on-line method on e-Learning with in-class learning method. The online module reading and exam activities also become part of pre-class training which is integrated with in-class training method.
Participants of blended learning training increased by 31% or 45 program in 2012 to 59 program in 2013.
e-Learning Method Scheme
In Class Training
Skill, Attitude, and Competency Driven
l l
Field Observation Action Plan
E-Learning Training
Presentation
Tools Simulation l Role Play l Case Study l Group Discussion l
Knowledge and Skill Driven
I. E-Learning
l l
Reading Time Pre and Post Test
l l l
Reading Video Based Learning Active Flash/Video
l
Forum Discussion
based Learning
2. Distance Learning
Lesson through e-Learning has continuously been developed to build employees competency. Presently, every employee is able to access various training module on e-Learning.
BSM supports learning process through e-Learning by adding macromedia flash-based module.
BSM employees also may access 168 powerpoint material through e-Learning. The learning process on e-Learning is targeted to self-produced video learning.
Lesson and training method under e-Learning are applying several methods, as follows:
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Training under distane learning method is a traning dedicated for employees which is non-integrated with in-class training. The participant is provided by an opportunity to learn on e-Learning that the understanding level will be assessed.
PT Bank Syariah Mandiri
Author of “Life’s Journey,” Prof. DR. Komaruddin Hidayat, also Chairman of BSM Sharia Supervisory Board, acted as single speaker on BSM Leadership Forum. As part of building Noble Economy Civilization Spirit, BSM periodically holds executive reviews.
Throughout 2013, BSM held training via e-Learning in form of sharia banking technical knowledege competition to 1,287 times, refreshment and online examination, 58% higher from 2012 which was 538 times.
E-Learning Implementation Data Description 1. Test Implementation 2. Blended Training Program 3. On-line test module
Total employees participated on SE refreshment exam in 2013 starting from Head of Branch Office/Division Head position was reaching to 127,551 employees, grew by 28% from 2012 which was 91,236 employees.
Learning process via e-Learning is higher within years. In 2013, e-Learning utility from total module applied for on-line exam was 249 modules.
Employee hits to e-Learning grew 26%, from 265,581 hits in 2012 to 493,354 his in 2013. BSM employees visiting hours to e-learning also increased by 385 from 296,304 hours in 2012 to 475,549 hours in 2013.
2012
2013
Growth
538
1.287
58%
45
59
31%
266
249
-7%
4. Visit (hits)
365.581
493.354
26%
5. Visit hour
296.304
475.549
38%
91.236
127.551
28%
6. Test participants
J. Knowledge Management Program The Bank realizes that knowledge dissemination process has to be managed in structurized and comprehensive manners. To support the knowledge dissemination effort, the Bank conducted Knowledge Management (KM) project by implementing KM since 2012.
Knowledge Management implementation was marked by KM Program Kick Off on June 19, 2013. Purpose of KM implementation in the Bank is to place BSM as innovative knowledge-based Sharia Bank.
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Annual Report 2013
Human Resources Development The Bank has designed Knowledge Management Implementation Roadmap with illustration as follows:
Building foundation for Knowledge Management (KM)
1. Obtaining support from BOD and Unit Head. 2. Carrying 14 KM recommendations. 3. Developing KM blueprint. 4. Developing knowledge map. 5. Carrying KM socialization and internalization. 6. Growing Nature Community of Practice(CoP). 7. Developing KM Management System (KMS) 8. Aligning KM initiative with business priority
Implementing KM in entire organization and preparing innovation development
9. Carrying KM initiative in entire organization. 10. Performing KM socialization and promotion to entire organization. 11. Identifying and informing knowledge sources to entire organization appropriately 12. Growing knowledge sharing and collaborating culture. 13. Capturing, sharing, applying and respecting ideas and innovation 14. Fostering innovation culture through several Smart Knowledge Worker communities. 15. Capturing, sharing, applying and implementing organization success idea and experience.
2013
2014
guidance in evaluating knowledge gap occured and needed by BSM, and also functioned as reference in carrying KM activities such as Knowledge Sharing at CoP.
1. Knowledge Management Portal (KM Portal) Development KM Portal is a web-based application which is functioned to facilitate all employees in carrying knowledge sharing, collaborating, discussing, asking to experts and seeking required knowledget to support their assignments completion.
3. Community of Practice Establishment
Community of Practice (CoP) is an employee group which shares caring, issue and passion related with certain topic and aims to develop knowledge and expertise by having regular engagement.
BSM CoP group periodically implements sharing or discussion activity informally and the result of activity minutes of meetign is disclosed at CoP menu on KM
2. BSM Key Knowledege Taxonomy Designing
16. Utilizing KM initiative as principal in building BSM corporate university. 17. Maintaining KM initiative and innovation success. 18. Growing BSM corporate university initiative. 19. Implementing measurement, assessment and reward system towards innovation in entire organization. 20. Carrying comprehensive audit on knowledge management initiative and innovation and impact on organization’s performance.
2015
Several Initiatives which had been conducted on Knowledge Management implementation in 2013, as follows:
Bringing BSM as knowledge based, innovative and spiritual Sharia Bank. Where spiritual is defined as Meaningful Life and Sense of Community
Knowledge Taxonomy is a knowledge classificaiton system which enables concept and its susbdiary segregation hierarchical. BSm has desigend key knowledge taxonomy functioned as reference and
Annual Report 2013
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PT Bank Syariah Mandiri
Portal that other BSM employees who did not participate on the activity wil remain acquire discussed knowledge.
In 2013, BSM has 13 CoP groups, as follows:
Community of Practice No
Name of CoP
Remarks
1.
Gold Lover
Expert on gold pawning
2.
Komunitas Mudah 14
Expert on micro financing marketing program
3.
Kapibara.com (Kapasitas Berbicara Community)
Expert of funding marketing
4.
Simple.Comm
Expert on service sector
5.
Kopabum (Komunitas Pegawai Sarapan Bubur Ayam)
Expert on consumer financing marketing program
6.
Clubing (Club Marketing)
Expert on marketing program
7.
Community of Channel
Expert on branch management program
8.
Kompres (Komunitas Processing)
Expert on financing analysis sector
9.
e Chat
Expert on alternate channel sector
10.
Smallink.cop
Expert on small financing marketing program
11.
FOC Community
Expert on operational financing marketing program
12.
SPRINT(Spiritual for Integrity & Competence)
Expert on integrity, spiritual and competency development program
4. Participation at MAKE (Most Admired Knowledge Enterprise) Award
Indoensian MAKE Study is a knowledge management implementation assessment initiative held by Dunamis Organization Services and Teleos – UK. MAKE Study aimed to develop knowledge managment activity in Indonesia and measure organizational commitment and maturity in Indonesia basde on knowledge.
In 2013, BSM was awarded as one of MAKE Award 2103 award winners altogether with 10 other comapnies.
PT Bank Syariah Mandiri
Followinga re list of Indonesian MAKE Award 2013 winners (alphabetically): a. b. c. d. e. f. g. h. i. j.
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PT Astra Honda Motor PT Bank Syariah Mandiri Binus University PT Federal International Finance PT GMF AeroAsia PT Pertamina (Persero) PT Telekomunikasi Indonesia Tbk PT Toyota Astra Motor PT Unilever Indonesia Tbk PT United Tractors Tbk
Annual Report 2013
Human Resources Development K. Employment and Occupational Health and Safety
The policy is aimed to ensure that the bank’s operational will be sustain during the disaster event.
1. Employees Health
Occupational safety guideline is stated on Employment Management manual (Manual Procedure) Chapter II, Sub-Chapter B. Working environment maintenance No. MP/SI/PK/2/02, with several principals, as follows:
Employee health policy is stated under Circular Letter No. 12/007/SDI, dated April 8, 2010 on PT Bank Syariah Mandiri Health Facility, with provisions, as follows: a. b)
2. Occupational Safety
Health facility provision for contraced, permanent and child of employees. Health facility including inpatient, labor, outpatient, general check-up (GCU) and overseas medical treatment.
Evaluating working environment periodically, mainly related with: a. Working infrastructure and environment completeness and appropriateness. b) Working environment cleanliness. c) Office space layout match. d) Working facility placing. e) Security equipment completeness and appropriateness.
The Bank’s awareness on employees’ health is indicated from growing employees health/treatment expense. As illustrated on following table, Tratement Expense grew by 147% from Rp14.3 billion in 2012 to Rp35.6 billion in 2013.
(in Rp)
Tabel Beban Pegawai 2012-2013/Total employment expense 2012 - 2013 No
Employee Expense
2012
2013
816.771.116.339
1.031.497.523.228
Beban gaji, upah, tunjangan dan kesejahteraan Pegawai
49.210.515.570
39.253.902.643
Education and training expense
50.717.535.457
56.026.119.651
4
Employment benefit expense
26.128.541.678
12.325.692.588
5
Employees social activity expense
14.390.101.286
35.611.227.034
6
Medical treatment expense
3.583.397.180
2.481.649.915
7
Recruitment expense
12.358.450.607
12.079.539.999
973.159.658.117
1.189.275.655.328
1
Employees remuneration, salary, benefit and welfare expense
2 3
Other expenses
The Manager drafted memo/filling form using check list (Form: MP.DHC.II.2.1), registering facility of working/office environment which is considered imporper or needs to be supported. If there is any facility improper or incompleteness, evaluation will be carried to be later proposed to Division Head.
Contingency Plan policy as stated on SE No. 13/009/OPS dated April 28, 2011 on Core Banking System Contingency Plan with several principals, as follows: a. b)
Crisis management organization at head and branch office. Operational practice during disaster.
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PT Bank Syariah Mandiri
3. Employees Turn Over Total organic employee in 2013 reached to 9,513 employees. If compared with total BSM employees in 2012 which was 9,331 employees, the employees turn over in 2012 reached to 941 employees or 9.89%. The turn over did not provide significant impact against financial performance considering the Company’s overall performance. Also, concerning that employees turn over was occured on officer at frontliner level with less than 3 years serving period, whereas the replacement resources is adequate on the workforce market.
Employees Turn over 2011 - 2013 Position
Year 2011
%
2012
%
2013
%
Senior Manager
1
0,2
2
0,3
5
0,53
Manager
6
1,4
4
0,6
29
3,08
65
15,0
107
14,8
211
22,42
361
83,4
612
84,5
692
73,54
0
0,0
1
0,1
4
0,43
433
100
726
100
941
100
Officer Staff Basic Employee Total
b. Pay for Position The employee remuneration is distribtued based on position/title c. Pay for Person The employee remuneration is distribtued based on individual expertise
4. Fair and Equal Treatment BSM ha a tagline “to be fair and bring assuance.” The tagline has a deep mening for internal (employee) and external (customer) circumstances. Fair treatment is reflected from employee remuneation scheme whcih complies with 3P principles:
BSM has corporate values of ETHIC (Excellence, Teamwork, Humanity, Integrity and Customer Focus). The values become a spirit for entire employees and management of BSM.
a. Pay for Performance The employee remuneration is distributed based on performance
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Annual Report 2013
MANAGEMENT REPORT
BSM continues to contribute in bringing welfare to the society and actualizing its position as Proud Indonesian Bank of Indonesian nation.
Annual Report 2013
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PT Bank Syariah Mandiri
South Sumatera – Palembang authentic Songket artwork
PT Bank Syariah Mandiri
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Annual Report 2013
MANAGEMENT REPORT BOARD OF COMMISSIONERS REPORT The Board of Commissioners realized that excellent achievement booked in 2013 is the result of effort and dedication of all employees and Board of Directors of PT Bank Syariah Mandiri. Spirit, dedication and vision tivenesshad been actualized by the Board of Directors and entire employees on performance achievement 2013 which becomes notable pride for the Board of Commissioners.
Achmad Marzuki
Assalamu’alaikum Wr. Wb.
President Commissioner And Indendent Commissioner
Bismillaahirrahmaanirrahiim Dear our Honored stakeholders,
Assessment on the Board of Directors Performance The Board of Commossioners generally assumed that the Board of Directors delivered best effort in actualizing RBB in 2013 as stipulated before.
The Board of Commissioners assessed that the Bank succeeded in achieving positive growth, while, on the other hand, Fraud event and increasing Non-Performing Financing (NPF) which affected decrease in profit and key financial ratio realization in the Bank. Moreover, Core Banking System (CBS) implementation which is currently under special mentioned to be completed according to determined timeline.
Annual Report 2013
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PT Bank Syariah Mandiri
The Bank’s performance as of December 2013 also affected both by internal and external factors of the Bank. Internal factor of the Bank included CBS implementation which was going until 1st semester of 2014, the Bank focued on NPF handling and/or settlement, also on organizational transformation from Product to Customer Centric; etc. Meanwhile, external factor of the Bank included Indonesian economy growth which in 2013 decelerated from 2012 from 6.2% to 5.78%, higher BI Rate went on several stages since beginning of 2013 at 5.75% grew to 7.50% as end of 2013, and Rupiah rate depreciation against US Dollar.
In general, the Board of Commissioners assumed that throughout 2013, the Board of Directors has delivered serious effort to achieve best performance and realize implemented RBB.
Bank Soundness Level Trend Pursuant to PBI No. 9/1/PBI/2007 dated January 21, 2007 on Commercial Bank Soundness Level Assessment based on sharia principle, the Bank conducted Self-Assessment Soundness Level.
Rentability ratio realization in 2013 was relatively fluctuative ranging from Rating 2 (two) and Rating 3 (three). In 2013, Net Operating Income Ratio was ranging from 1.52% to 2.51%, where in December 20123, the Rentability Ratio was 1.63% with Fair predicate.
The Bank soundness level is used to measure the management’s capacity in managing the Bank during certain period undr economic and financial industry conditions.
In 2013, Liquidity ratio was at Good level. Short Term Mismatch (STM) Ratio realization throughout 2013 was around 16.91% to 19.47%, where in December 2013 reached to 18.35%, placed at Ratign 3 or Fair.
The Bank Soundness Level Self-Assessment achieved Composite Score 2 (two) in 2013. This reflected that the Bank’s condition was relatively good and the management was able to overcome negative impact from economic and financial industry conditions. The Bank also strengthens Risk Management and Internal Control System infrastructures.
Throughout 2013, Sensitivity to market risk ratio was Very Good with rating 1 (one). The ratio indicated that the Bank’s market risk was very Low and Market Risk Management implementation has been carried effectively and consistently.
Minimum Capital Adequacy Ratio of the Bank throughout 2013 was at Rating 1 (one) or Very Good. KPMM Ratio as of December 31, 2013 was 14.10% or exceeding minimum ration of 8%.
Management’s component score in 2103 as General Management and Compliance Management Ratio achieved Rating A or 1 (one) while Risk Management Ratio achieved Rating B or 2 (two).
The Bank acquired additional placed and paid-in capital as inbreng amounted to Rp30.78 billion on December 27, 2013.
In 2013, Assets quality ration was at Rating 2 (two) or Good. Earning Assets Quality Ratio was ranging from 0.96 to 0.97 in 2013.
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Annual Report 2013
MANAGEMENT REPORT Bank Risk Profile Trend Risk Profile discloses a description of inherent risk in entire Bank’s activity and adequacy of Risk Management System. Risk Profile as of December 31, 2013 indicated the Bank’s composite score predicate was Moderate. Throughout January to September 2013, Credit Risk predicate was at Low to Moderate predicate, thus from October to December 2013, improved to Moderate rating. This was encouraged by higher NPF, where as of December 31, 2013, NPF Gross Ratio reached to 4.32%, NPF Net ratio was at 2.29% and NPF Absolute ratio was at Rp2.17 trillion. Market Risk predicate was Low. This was due the Bank did not have high exposure containing Market Risk. Liquidity Risk predicate was Low to Moderate. Liquidity Risk Predicate was Low to Moderate indicated that the Bank’s Liquidity Risk Management was at Good level. Operational risk predicate was Moderate. This indicated that the Bank’s Operational Risk Management was Fair. Uring January to May 2013 period on Legal Risk predicate was Moderate, thus, in June to December 2013 improved to Moderate to High predicate. Moderate to High predicate on Legal Risk was due to litigation faced by the Bank. In January to February 2013 period, Reputation Risk predicate was Low to Moderate, in March to September 2013 decreased to Low predicate, where in October to November 2013 period re-escalated to Moderate to High due to Fraud event reporting occurred at Bogor Branch Office to Police Department on September 12, 2013. In Deember 2013, Reputation Risk descended to Low to Moderate Predicate. In January to March 2013, Strategic Risk Predicate was Low to Moderate. Improved in April to July 2013 achieving Moderate predicate. In August to December 2013, reesclated to Moderate to High. This should become the Board of Commissioners’ concern that less optimum growth from financing quality, Core Banking System completion burden, etc.
Annual Report 2013
Compliance Risk Prediacte was Low. This indicated that the Bank is committed to comply with prevailing regulation.
Core Banking System As of December 2013, Core Banking System (CBS) realization are as follows: 1. Phase 1 Phase 1 (COA Re-engineering, Outlet Code Reengineering, Retail System, Time Deposit System, General Ledger System, Customer Information System, Cash Transaction Report, e-Channel Interface, Payment Points via Teller and Central Bank Reports Phase 1) which had been compeletely implemented on March 1, 2012. 2. Phase 2 a. Phase 2 group 1 (GDP. Rahn, Murabahah, Forex Treasury, Money Market Treasury and CRM. b. Phase 2 group 2 (Mudharabah, Musyrakah, LOS and SDB). c. Phase 2 group 3 consists of Ijarah, Qardh, Istishna,Murabahah Channeling, Collection, Trade Financing, Sysndication Loan, Securities, Internet Banking and PMS. CBS Completion (Core and Non-Core) progress as of December 31, 2013 was at 93.02% or booked gap of 3.17% from the target which was 96.19%. The realization consisted of Cire at 96.67% or booked gap of 0.21% from the target which was 96.88% and achievement of Non-Core completion reached to 68.61% or booked gap of 22.93% from the target which was 91.54%.
Saturn Project Saturn Project realization as of December 2013 reached to 6 (six) initatives namely Risk Management, Mandiri Network
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BSM entered into strategic partnership with holding company, PT Bank Mandiri (Persero) TBk. on Saturn Project on February 19, 2013. The project was aimed to keep encouraging BSM to grow more optimally that will able to maintain its position as leading sharia bank nationwide.
disbursement can be carried in prudent and high quality manners.
Branch Leverage, Product Development and e-Channel Nework, Micro Banking, Commercial Banking and Corporate Banking at 98.16% from target realization as of December 2013.
Audit Result Action Plan
Non-Performing Financing In 2013, the Board of Commissioners has carried several joint meeting with the Board of Directors discussing Non-Performing Financing controlling issue and program. Moreover, the Board of Commissioners also (intensively through Audit Committee and Risk Monitoring Committee) conducted monitoring through weekly meeting with Non-Performing Financing Settlement Team to assess NPF handling and/or settlement process per customers or by overall portfolio. The Board of Commissioners proposed to the Board of Directors to develop Non-Performing Financing Crash Program handling and/or settlement, building employees integrity and competency, strengthening financing organization starting from Front End, Middle End, Risk Management, Financing Operation and Back End (End to End Financing Process), carrying Legal Audit, credit culture improvement and others, that financing
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Throughout 2013, the Board of Commissioners conducted several joint meetings with the Board of Directors to discuss audit result acion plan both carried by Internal and External Audit. Based on audit result presented to the Board of Commissioners periodically, there was a fraud committed both by Head of Unit or employees of the Bank. Moreover, to enforce Good Corporate Governance (GCG), on September 12, 2013 the Bank reported fraud event committed by executives and employees of Bogor Branch Office to Police Department. Concerning such condition, the Board of Commissioners proposed to the Board of Directors to develop several programs to build employees integrity and competency, enhance Early Warning System, improve the Bank Internal Control System effectiveness and provide Reward and Punishment.
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MANAGEMENT REPORT Human Capital Management The Board of Commissioners conecerned on Human Capital Management as a key factor in developing the Company. The Board of Commissioners proposed to the Board of Directors to continuously build employees integraity and competency, develop Talent Management Program and employees Career Path, perform rotation and mutation, perform rotation and mutation in fast and accurate manners, etc.
Internal Audit Practice Internal Audit practice is periodicaly carried by Internal Audit Unit. The Board of Commissioenrs proposed to the Board of Directors namely to improve Auditor competency that the audit result will be presented optimally; proposing Performance Audit to be carried in several working units; and ensuring availability of risk understanding and perception regarding Risk-Based Audit implementation such as Internal Audit with Auditee or External Auditor.
Compliance Performance The Board of Commissioners also concerned on Sharia Principle Compliance. On of the actualization of the Board of Commissioners’ concern was by holding coordination meeting with Sharia Supervisory Board aiming to optimize sharia principle implementation compliance monitoring on the Bank’s business activity as well as developing role of Sharia Supervisory Board in expanding the Bank’s business. The Board of Commissioners encouraged the Sharia Supervisory Board to outline a new recommendation and/or regulation related with the product which will support Sharia Banking business growth acceleration. To maintain and improve compliance on Sharia Principle, the Board of Commissioners proposed to the Board of Directors to build employees competency mainly Head of Unit regarding sharia aspects including products which is under nonmurabahah agreement.
Annual Report 2013
The Board of Commissioners conducted the Bank’s compliance function monitoring through Compliance Performance and Audit Result Reprot carried by Compliance Unit. Concerned score or ratio was Compliance Index. At most concerned Compliance Index were laid on several indicators such as Compliance Index (CCI), Compliance Risk Index (CRI), Compliance Certificate (CC), Compliance Self Assessment (CSA), Zero Defect Index (ZD), Regulation Index (RI), Division Compliance Index (DCI), Branch Compliance Index (BCI), PKP Performance, APU & PPT Index, Compliance Procedure Index, Code of Conduct, and GCG Index. The Bank’s Compliance Level was averagely decreased from 91.82% in 2012 to 89.97% in 2013. This was due to several decreasing index with the highest contribution from Regulation Index, APU & PPT Index, dan GCG Index. To improve the Bank’s compliance function, the Board of Commissioners suggested a Director who supervises compliance function to: 1. Review and improve Compliance Officer (PKP) role and function; 2. Review the Bank Compliance Index Assessment method related with audit result both carried by internal or external auditors.
Performance Assessment Summary The Board of Commissioners assumed that the Bank grows positively, thus, the Board of Commissioners also concenrs on fraud event and increasing NPF affected to decreasing profit and financial ratio of the Bank as well as ongoing Core Banking System implementation process. On the other hand, the Board of Commissioners views that the Bank has implemented Good Corporate Governance in managing the Bank’s business activity. Based on performance realization monitoring result, the Bank working program execution and to support sustainable growth, the Board of Commissioners delivered several aspects to be considered by the Management to improve and increase the
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m. Enhancing effectiveness of a team which particularly deals with and/or handles NPF both in Head or Regional/Branch Office; n. Conducting stressing on financing disbursement on Retail and Micro segment as high-cost fund disbursement. In carrying Retail and Micro financing disbursement, the Management needs to perform several efforts, as follows:
Bank’s performance, namely as follows: 1. The Bank’s capital has to support expected business expansion and growth, though capital position (CAR) was still under safe condition, the Bank attempted several efforts, as follows: a. Realizing shareholders additional capital plan based on schedule. b. Disbursing fund on earning assets with low RWA weight.
1) Developing Micro staff competency; 2) Enhancing Management Control to direct sales staff.
2. As an effort to boost sustainable financing growth as well as improving earning assets quality, the Bank needs to continue several efforts in more concrete and sustainable manners, as follows: a. Strengthening Credit Culture implementation; b. Enhancing End to End Financing Process; c. Improving audit function and compliance procedure, financing administration order and internal audit effectiveness on financing disbursement process; d. Disbursing financing for Corporate and Commercial segments both carried autonomously by the Bank or in cooperation with Holding Company; e. Carrying current outlet productivity intensification and/or development; f. Developing HR Organization and Recruitment at Financing Operation Center (FOC) and Back-End Financing; g. Determining Financing Customers Collectability, based on 3 (three) Pillars Assessment (Business Prospects, Performance and Solvability); h. Monitoring financing customers condition periodically; i. Designing Crash Program to settle non-performing financing; j. Strengthening Early Warning System per financing segment to anticipate decrease in financing customers collectability. k. Ensuring that Regional Representative Finacning Recovery (RRR) Unit staffing at Regional/Branch is under dedicated term and fucntioend as determined; l. Carrying Legal Audit to ensure financing documentation completeness including commitment with customers collateral;
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3. The Bank to maintain and increase Rentability, throughout several aspects as follows: a. Accelerating prudent and sound financing growth; b. Conducting intensivecollection on non-performing and write-off customers; c. Implementing exit strategy on certain custoemrs with less-recovered potential; d. Disbursing financing to highly attractive or attractive economy sector; e. Preventing financing disbursement under special expertise which does not owned by the Bank; f. Disbursing financing in prudent and sound manners with financing stressing on Retail and Micro segments; g. Ensuring liability payment continuity by monitoring effective financing; h. Increasing Fee-Based Income; i. Controlling overhead by preserving budget discipline and efficiency in entire activity.
4. To maintain the Bank risk level, to be at Low Risk level with stable outlook, the Bank needs to carry several activities, as follows: a. Improving Internal Audit; b. Enhancign compliance against stipulated policy and/ or sOP; c. Disbursing financing prudently and implementing Four Eye Principels during the financing process; d. Enhancing the Bank’s employees integrity, Competency and Capability;
Annual Report 2013
MANAGEMENT REPORT g. Conducting profound and comprehensive analysis on employees background who will be promoted as Head of Unit (Branch Office or Supporting Branch Office); h. Appointing PIC to conduct sustainable monitoring to the employee (Know Your Employee), such as monitoring on employees lifestyle; i. Considering employees productivity level in fulfilling employees shortage to be effective and efficient; j. Adjusting education and/or training program with employees actual needs such as on the job training; k. Prearing long-term program such as work spirit improvement, integrity building, conformity between employees passion and assignment;
e. Finishing Core Banking System and Saturn Project; f. Identifying inherent risk in every Bank’s risk; g. Identifying Top Ten Risk on every working unit to assist risk mitigation implementation by each working unit.
5. Violation and/or Fraud Handling a. Conducting analysis to assess main factor causing violation and/or Fraud to be immediately mitigated (Early Warning System); b. Preparing fraud case settlement timeline and reporting the settlement progress by monthly to the Board of Commissioners; c. Imposing sanction to employee who committed violation and/or fraud in fast, firm, deterrent, independent in determining sanction decision and not conducting omission act in stipulating punishment as well as omission to employee who committed violation and/or Fraud.
l.
7. Internal Audit System a. Improving internal audit system in entire line both at Head Office, Regional Office and Branch Office and strengthening Early Warning System; b. Increasing authority of Regional Office on monitoring aspect both on product sales or HR; c. Conducting employees mutation and/or rotation and ensuring that the employees took their leaves; d. Finishing audit findings either carried by Bank Indonesia, Bank Mandiri or Internal Audit by preparing settlement schedule and action plan monitoring list report; e. Appointing Independent PIC and/or working unit (autonomous from internal control system) functioned to establish and/or analyze internal audit system adequacy and may be accounted if there is any fraud; f. Conducting verification in every transaction and not allowed to delegate mandate fully to other parties; g. Optimizing Monitoring Unit Forum to establish the Bank’s Internal Audit System improvement action plan; h. Proposing the Internal Audit Division (IAD) to monitor
6. Human Capital a. Increasing Human Capital Management effectiveness that the Bank’s Human Capital will have more effective performance and reduce and/or prevent fraud event; b. Developing employees competency mainly on financing sector; c. Ensuring competency of financing approval officer by developing respective employee competency; d. Providing training for the Bank’s executive on leadership; e. Conducting employees mapping mainly at staff level, namely on position, title, career path that the higher position to be served from bottom recruitment; f. Proposing the bank’s executive to conduct employees coaching for subordinate including at Branch level. Particulalry regarding Service Excellent, Achievement of Financial Performance, GCG and Sharia Compliance;
Annual Report 2013
Designing a system to encourage employees discipline and/or compliance against the regulation.
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BSM held BSM Gold Pawn Installment product grand launching. The product launching is targeted to support business target realization mainly at micro and small business segment.
improvement action plan to be conducted by Branch Offices.
1. Transparency The Bank has developed Accounting System based on prevailing Sharia Accounting Standard to produce high-quality financial statements and also has conducted the Bank’s financial statements socialization, informing the Bank’s product to the customers, implementing third party fund goods and services procurement for the Bank’s operational needs under a process and mechanism held fairly and transparently, the Bank also has hired independent and professional external auditor service.
8. Core Banking System (CBS) The Board of Commisisoners proposed to the Board of Directors, namely that: a. The Vendor to immediately settle issues on CBS such as performancy, deferred account, etc. b. CBS Team to monitor and settle registered accounting data on deferred account appropriately; c. CBS Team to coordinate with task force team in identifying and correcting data or application and monitoring deferred account correction process; d. CBS Team to handle gap existed as of December 2013; e. CBS Team to concern CBS project implementation plan timeline generally to be implemented based on determined schedule; f. Providing training as end user training.
2. Accountability The Bank has determined exact responsibility of each organization organ and designing Organization Structure which accommodates organizational needs. The Bank has fair, objective and competitive Employees Recruitment System. The Bank also has Management and Employee Remuneration System based on competitive performance and transparent. 3. Responsibility
Corporate Governance Implementation
The Bank has conducted reporting to third parties (BI, Bank Mandiri, PPATK) and complies with provision from regulator, the Bank also has implemented Corporate Social Responsibility (CSR) and managing zakat as well as qardhul hasan.
Corporate Governance practice has been carried by the Bank referring to five principals (Transparency, Accountability, Responsibility, Professional and Fairness). The Corporate Governance principle implementation are namely:
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MANAGEMENT REPORT 4. Professional The Bank has a regulation which segregates personal and official interest as well as able to take decision objectively and free from pressure from any party, the Bank will continuously enhance employees integrity, competency and capability throughout several trainings (internal and external). 5. Fairness The Board of Commissioners and Board of Directors have conducted their authority and responsibility based on several provision stipulated under Articles of Association and prevailing Law and Regulation. The Bank has provided reward for every achievement and objective as well as educative punishment for every violation. The Board of Commissioners has had and improved BSM Board of Commissioners Working Manual and Proecure as authorized on May 11, 2010. The Working Manual and Procedure regulates principal duty, organization structure, work ethic, working hours and Board of Commissioners meeting implementation.
Business Prospect On the Bank’s prospect and development initiative prepared by the Management, the Board of Commissioners viewed that the prospect had aligned upcoming economic condition, government policy, support from owner as well as current organizational, network, Human Capital, Risk Management and technology improvement and development.
Committees Under the Board of Commissioners In carrying supervisory and advisory duty, the Board of Commissioners disseminates throughout various formal and/or non-formal meeting forum and/or under verbal communication and/or written statements to the Board of Directors, or Working Unit. In conducting its mandate, the Board of Commissioners is assisted by three committees of Audit Committee, Risk Monitoring Committee and Remuneration and Nomination Committee. In line with the committees’ duties, the Board of Commissioners also peridocially interacts with Management and related Units. Spirit, dedication and vision tivenesshad been actualized by the Board of Directors and entire employees on performance achievement 2013 which becomes notable pride for the Board of Commissioners. We realized that excellent achievement booked in 2013 is the result of effort and dedication of all employees and Board of Directors. On behalf of delighting performance, last but not least, the Board of Commissioners expressed appreciation and gratitude to BSM employees and Board of Directors as well as to the stakeholders for every trust and support delivered to BSM to present time. The Board of Commissioners report on supervisory duty implementation throughout 2013 is as remarked. May Allah SWT always bless and gives strength to us. Wassalamu’alaikum Wr. Wb.
Change on Board of Commissioners Composition In 2013, Board of Commissioners composition consisted of Achmad Marzuki as President Commissioner and Indepednent Commissioner, Ramzi A. Zuhdi and Bambang Widianto* each as Independent Commissioner, Agus Fuad and Sulaeman each as Commissioner pursuant to result of General Meetings of Shareholders (GMS) dated May 29, 2013 that number of Board of Commissioners members is 5 (five) members.
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PT Bank Syariah Mandiri Board of Commissioners
Achmad Marzuki President Commissioner and Independent Commissioner
Ramzi A. Zuhdi Independent Commissioner
Agus Fuad Commissioner
Bambang Widianto* Independent Commissioner
Sulaeman Commissioner
*) Is currently under fit and proper test by financial service authority PT Bank Syariah Mandiri
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MANAGEMENT REPORT
Profil Dewan Komisaris
Bambang Widianto*
Independent Commissioner
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Ramzi A. Zuhdi
Independent Commissioner
PT Bank Syariah Mandiri
Sulaeman
Commissioner
Achmad Marzuki
President Commissioner and Independent Commissioner
Agus Fuad
Commissioner
*) Is currently under fit and proper test by financial service authority PT Bank Syariah Mandiri
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MANAGEMENT REPORT
Achmad Marzuki
Ramzi A. Zuhdi
President Commissioner and Independent
Independent Commissioner
Commissioner Indonesian citizen, born in Palembang on July 25, 1939. Graduated from Public Administration, Faculty of Social and Political Science, Universitas Gajah Mada in 1964 and Graduated from Civil Law, Faculty of Law, Universitas Indonesia in 1980. Career History Before serving as President Commissioner and Independent Commisisoner at BSM, he was served as Senior Advisor of BSM Board of Commissioner, President Commissioner at PT Bumi Daya Plaza, President Commissioner at PT Estika Jasatama, President Director at PT Bank Pembangunan Indonesia (Persero) and Director at PT Bank Bumi Daya (Persero). Education and Training Participated trainings, among others: Business Workshop, Supervised Achievement Motivation Training & Consultant, Insurance and Development Banking, Course on Development and Promotion Small Enterprises held by EDI/ IBRD Economic crime on Banking Sector, Top Management Program of Asian Institute, Risk Management in Retail Banking, etc.. Special Assignment: Chairman of BSM Remuneration and Nomination Committee Initial Appointment Basis: GMS on June 19, 2008
Indonesian citizen, born in Jambi on May 5, 1952. Graduated from Universitas Gajah Mada tahun 1972 and obtained Master Degree at Iowa State University in 1989. Career History Before serving as Independent Commissioner, he served as Director of DPbS Bank Indonesia and Finance Director of PT Mekar Prana Indah, presently, he also serves as Risk Management assessor at Indonesia Banking Professional Certification Agency (LSPP) and Lecturer at Postgraduate Program, Universitas Indonesia.
Education and Training Participated trainings, among others: l Jakarta, 2003: Couching & Counselling Skill (IMMI Management) l Washington DC, 2004: KRD-Credits for Reporting Purposes (Institute of Internal Auditors) l Jakarta, 2004: Risk Management (Bank Indonesia) l Bandung, 2008: Total Image (Lembaga Pendidikan Duta Bangsa) l London, 2008: MNJ-Advanced Leadership On Central Bank MGT & Poli (BSMR) l Jakarta, 2008: HR Management Strategy (Daya Dimensi Indonesia) l Jakarta, 2011: Certificate of Competence (National Professional Certification Agency) l Jakarta, 20011: Competency Assesor Workshop (LSPP) l Frankfrut, 2012: evel 3-level 5Risk Management Certification Refreshment Program L. Special Assignment: Chairman of Risk Monitoring Committee Initial Appointment Basis:: GMS on June 29, 2010
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Bambang Widianto*
Agus Fuad
Sulaeman
Independent Commissioner
Commissioner
Commissioner
Indonesian citizen born in Jakarta on November 27, 1959. Graduate from Industrial Engineering, Institut Teknologi Bandung tahun 1985, Master of Art (MA) Degree of Computer Science in 1990 from Boston University-Boston USA and Economy Studies in 1993 from Northeastern University-Boston USA, and later obtained Philosophiae Doctor (Ph.D) Degree on Communication Studies in 1995 from Northeastern University-Boston USA. Career History Besides serving as Candidate of BSM Board of Commissioners, presently he also serves as Deputy Secretary of Vice President on Public Welfare and Poverty Erradication Affairs also acts as Executive Secteray of Poverty Erradication Acceleration National Committee (TNP2K), Commissioner of PT Pos, Lecturer of Administration Studies Postgraduate Program at Sekolah Tinggi Ilmu Administrasi Lembaga Administrasi Negara Republic of Indonesia, Lecturer at Planning and Public Policy Postgraduate Program – Faculty of Economy, Universitas Indonesia. Education and Training Participated Trainings among others: l Level 2 Risk Management Certification l Sharia Banking, etc. Special Assignment: Member of Audit Committee and Risk Monitoring Committee
Indonesian Citizen born in Sragen, on August 09, 1959. Grduated from Faculty of Economy, Sekolah Tinggi Ilmu Ekonomi Indonesia in 1994. Obtained Magister of Management Degree in 1999 from Universitas Airlangga. Besides serving as Member of Board of Commissioners, he also serves as Group Head Distribution Network I PT Bank Mandiri (Persero) tbk. Career History Previously he served as Group Head Distribution Network II, Group Head Business Banking II, Regional Manager Area X – Makassar, Deputy Regional Manager Area I – Medan, Banjarmasin Area Manager, Malang Merdeka Branch Manager. Education and Training Participated trainings, among others: Sharia Banking, Level 4 Risk Management Certification Coaching for Excellence Executive Six Sigma Champion Workshop The Looking Glass Experience Managing Customer Relationship for Profit Leading Strategic Growth & Change, etc Special Assignment: Member of Audit Committee and Risk Monitoring Committee Initial Appointment Basis: GMS on May 29, 2013
Indonesian citizen, born in Bandung City on November 5, 1967. Graduated from Faculty of Agriculture majoring Agronomy, Universitas Padjajaran in 1989. Obtained Magister of Management Degree on Marketing Studies in 1997 from Universitas Gadjah Mada. Besides serving as member of Board of Commissioners at PT Bank Syariah Mandiri, he also serves as Group Head Commercial Risk PT Bank Mandiri (Persero) tbk. Career History Previously, he also served as Corporate Risk Group Head, Loan Apporval Executive, Corporate Credit III Department Head, Credit Risk Manager Senior, Corporate Risk Management, etc. Education and Training Participated trainings, among others: l Sharia Banking, Columbia Senior Executive Program l Columbia Business School l Ship Financing Workshop, Service Excellence For Senior Manager l Great Leader Program Workshop and Training l EUT E-Mandiri Easy, Senior Management Risk Summit l Level 4 Risk Management Certification l Palm Oil Upstream Industry Expertise l Accountability Session 4DX l Advanced Bank Risk Analysis l Seminar Opportunities & Chalengges of Indonesia l Manager Works Session Implementasi Executive l Strength Based Performance Coach, etc Special Assignment: Member of Risk Monitoring Committee Initial Appointment Basis: GMS on May 29, 2013
Initial Appointment Basis: GMS on May 29, 2013
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*) Is currently under fit and proper test by financial service authority Annual Report 2013
MANAGEMENT REPORT
SHARIA SUPERVISORY BOARD REPORT Every procedure of funding, financing and operational products of PT Bank Syariah Mandiri (BSM) has been approved by Sharia Supervisory Board to ensure its compliance to sharia principle.
Prof. Dr. Komaruddin Hidayat, MA. Chairman Assalamu’alaikum Wr. Wb. Bismillaahirrahmaanirrahiim Sharia Supervisory Board (DPS) had carried monitoring on operational activity independently. Members of DPS have obtained recommendation from National Sharia Board (DSN), an agency under Indonesia Ulama Board (MUI). Every procedure of funding, financing and operational products of PT Bank Syariah Mandiri (BSM) has been approved by Sharia Supervisory Board to ensure its compliance to sharia principle. Activities of DPS carried in 2013 were including:
1. Providing recommendation hat BSM product and service has complied with Islamic regulation issued by DSN. 2. Providing recommendation and opinion for entire operational activity and product manual. 3. Delivering sharia monitoring report to Bank Indonesia, Board of Directors and DSN MUI every semester in 2013 disclosing several aspects, as follows: a. Monitoring result on the Bank new product development process including product target, characteristic and agreement, compliance with
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b.
c.
d.
e.
DSN – MUI regulation, new product system and procedure. Montiroing result on the bank activity including fund collection, fund disbursement and Bank service. Monitoring activity including Internal Audit Report analysis, Number of transaction sampling test stipulation and audit, review on sharia-aspect related SOP. DPS general opinion on the Bank operational as of 1st Period of January 1, 2013 to June 30, 2013 and 2nd period of July 1, 2013 and December 31, 2013. DPS opinion on fund collection, fund disbursement and service activities in the Bank. By disclosing data in form of total Circular Letter (SE), financing data and DPS opinion on the Bank new product. In 2013, DPS issued 5 Sharia opinion. Audit sampling methodology and technique. In 2013, DPS carried direct monitoring/sampling to 9 BSM branch Offices such as Semarang Branch Office, Garut Branch Office, Cirebon Branch Office, Tangerang Branch Office, Denpasar Branch Office, Surabaya Branch Office, Cilegon, Tasikmalaya Branch Office, Bandung Branch Office. With sampling concentration was on funding and financing activities. To complete the audit process, DPS also proposed and verified Compliance Auditor (PKP)
finding in each Branch Office. 4. Enhancing Sharia Banking Practical Understanding. DPS holds a dialogue with branch office head and employees, that business and operational burden in branch related with sharia aspect will be settled.
Moreover, DPS also provided guidance and material refreshment on “Sharia Banking Agreement and Product) to branch office staff, by organizing Sharia clonic Forum to answer complaint as well as receive constructive recommendation for sharia aspect compliance quality improvement. This is aimed that every executive at branch office will understand and recognize sharia banking product and service scheme. Also including standard agereement applied on funding, financing and service product to meet the expectation form business side for sustainable growth and compliance with sharia aspect.
Wassalamu’alaikum Wr. Wb.
Jakarta, February 25, 2014 PT Bank Syariah Mandiri Sharia Supervisory Board
Prof. Dr. Komaruddin Hidayat, MA Chairman
Drs. H. Mohamad Hidayat, MBA. MH. Member
PT Bank Syariah Mandiri
Dr. M. Syafii Antonio, M.Ec Member
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MANAGEMENT REPORT Profil Dewan Pengawas Syariah
Mohamad Hidayat Member
Komaruddin Hidayat
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Chairman
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M. Syafii Antonio Member
PT Bank Syariah Mandiri
Prof. Dr. Komaruddin Hidayat, MA
Dr. M. Syafii Antonio, M.Ec.
Drs. H. Mohamad Hidayat, MBA, MH.
Chairman
Anggota
Anggota
Indonesian citizen, born in Magelang on October 18, 1953.
Indonesian citizen born in Sukabumi on May 12, 1967.
Indonesian citizen, born in Jakarta on May 3, 1967.
Career History Besides serving as Chairman of BSM Sharia Supervisory Board, he also serves as Rector of Universitas Islam Negeri (UIN) Syarif Hidayatullah Jakarta from 2006 – present; and previously appointed as Chairman of General Election Monitoring Committee (Panwaslu) (2003-2004); Director of SPS UIN Jakarta (2005); Member of BNPT (2010 – present); and actively serves as committee in various NGO mainly on education and interfaith dialogue and other issues.
Career History Before serving as member of BSM Sharia Supervisory Board, he was also served as Sharia Banking Development Expert Committee in Bank Indonesia, Member of MUI National Sharia Board Committee. He previously also served as Expert of Global Shariah Advisor in Dubai, Sharia Banking Expert Committee of Kuala Lumpur and Bank Indonesia. Since 2010, he was appointed by President of RI as member of National Economy Committee.
Career History Besides serving as member of BSM Sharia Supervisory Board, he also serves as MUI National Sharia Board Committee, Lecturer of PSTTI Postgraduate Program, Universitas Indonesia and IEF Program, Universitas Trisakti. Moreover, he also actively serves as supervisor and advisor in various Islamic financial/non-financial institution, also appointed as Chairman of Al- Washiyyah Foundation.
Education and Training Graduated from Bachelor Degree from Usluhuddin Faculty of IAIN Syarif Hidayatullah Jakarta in 1981. Obtained Master and PhD Degree on Philosophy Studies from Middle-East Technical University (METU) Ankara, Turkey in 1995. Post-Doctorate Research Program in McGill University, Canada (first semester, 1995) and Post-Doctorate Research Program at Hartfort Seminary Connecticut, USA (first semester, 1997)
Education and Training Obtained PhD Degree of Micro Finance, from University of Melbourne Australia in 2004. Master Degree on Economy from International Islamic University (IIU), Malaysia in 1992. Intial appointment basis: Deeds No. 10 dated July 3, 2001, Deeds No. 10 dated June 19, 2008 and Deeds No. 19, dated June 28,2011.
Initial Appointment Basis: Deeds No. 19, dated June 28, 2011 and BOC Decree No. 13/001-KEP/KOM, dated December 22, 2011 for December 22, 2011 to June 2016 period.
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Education and Training Graduated from Sharia Faculty of IAIN Jakarta in 1991, MBA Postgraduate Degree from IPWI Jakarta and Master Degree from Law College, Institute at Business Law & Legal Management (IBLAM) Jakarta in 2003. Presently is completing Doctorate Degree of Islamic Economic and Finance at Universitas Trisakti, Jakarta. Intial appointment basis: Deeds No. 24, dated September 8, 1999, Deeds No. 10 dated June 19, 2008, Deeds No. 19, dated June, 2011.
MANAGEMENT REPORT REPORT FROM THE BOARD OF DIRECTORS Despite few weaknesses to be improved, Bank Syariah Mandiri passed 2013 with delighting achievements. Therefore, by holding current growth, we believe that the Company will reach higher performance in years to come.
Yuslam Fauzi President Director
• Best CEO Leadership 2013 from Economic Review • CEO Inovatif 2013 from GATRA Executive Forum • The Best for CEO Commitment 2013 from Dunamis • The Best CEO Commitment 2012 from Dunamis • Islamic Banker of the Year 2012 from Edbiz Consulting dan Asia Finance Forum
• The Best CEO 2012 from Perbanas Institute and Woman Review • Indonesia Best Corporate Transformation 2012 from SWA Solution Magazine • The Best CEO 2010 from Swa Magazine, Dunamis and Synovate • Lifetime Achievement 2010 from Karim Business Consulting
Dear Our Distinguished Shareholders and Stakeholders,, Assalaamu’alaikum Wr. Wb. Bismillaahirrahmaanirrahiim We’d like to address praise and gratitude to God Almighty for every bless and grace, that enabled Bank Syariah Mandiri to overcome 2013 with satisfying record despite few weaknesses to be improved, Less favorable global economy condition brought major impact to BSM performance. Thus, by carrying current growth realization, we believe that the Company will reach higher performance in years to come.
On behalf of the Board of Directors, Management of PT Bank Syariah Mandiri would present the Company’s performance during 2013.
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Indonesian Economy Trend In 2013, Indonesian economy trend decelereated from previous year which arrived at 6.2% in 2012 to 5.78% in 2013. The growth was supported by performance of household consumption and investment performance. Thus, the economic fall occurred in 2013 was due to real export growth decline due to global economic stagnancy. Annually, Consumer price Index inflation reached to 8.34% *yoy) or higher from inflation rate in 2012 which reached to 4.30% (yoy). Inflation rate during 1st Semester of 2013 was relatively lower from inflation rate at 2nd Semester of 2013.
Worsened banking performance ratio were Net Interest Margin (NIM), Return on Asset ) ROA). NIM ratio decreased by 0.60% from 5.49% in 2012 to 4.89% in 2013. ROA decreased by 0.03% from 3.11% in 2012 to 3.08% in 2013.
Sharia Banking Trend
Volatile Food and administered prices group inflation in 2013 was each reached 11.83% and 16.65%. Volatile food inflation was influenced by seasonal factor due increasing end-year demand related with religious feast and new year celebration. Moreover, the inflation was also affected by direct factor from subsidized Oil Fuel and electricity rising price. In 2013, Administered price was relatively high due to increase in subsidized Oil Fuel price, electricity basic tariff and LPG tariff. Rupiah rate depreciated throughout 2013. Major pressure occurred since May 2013 to August 2013 related with global economic turmoil and brought certain impact to domestic economy growth.
Bank Indonesia recorded that 89% of Indonesian society are willing to accept sharia principle. Concurent banking indicator is increasing sharia banking against total national banking market share. Since 2000, sharia banking market share is growing both from assets, deposit and financing aspects. Sharia banking assets grew by Rp47.25 trillion or grew by 24.23% (yoy) from Rp195.01 trillion in 2012 to Rp242.27 trillion in 2013. In 2013, sharia banking deposit grew by Rp36.02 trillion or grew by 24.42% (yoy), from Rp147.51 trillion in 2012 to Rp183.53 trillion in 2013. Deposit growth realized in 2013 was 24.42% (yoy) lower from Deposit growth booked in 2012 which was 27.81% (yoy).
By point-to-point, Rupiah rate was depreciated to 20.9% (yoy) from Rp10,075 per US Dollar level booked in 2012 to Rp12,170 per US Dollar level booked in 2013. Concerning Indonesian economic growth, Bank Indonesia took tight monetary policy to overcome inflation pressure and encourage current transaction deficit correction to be more sound and sustain. As end of 2013, BI Rate was booked at 7.50% level, 175 bps higher from 5.75% booked in 2012.
From fund disbursement aspect, sharia banking financing growth reached to 24.82% (yoy) in 2012. In 2013, Sharia banking financing grew by Rp36.61 trillion or 24.82% from Rp147.50 trillion in 2012 to Rp184.12 trillion in 2013. Several decreasing sharia banking industry performance ratio were ROA, ROE, NPF and BOPO ratio. In 2013, Sharia Banking Return on Assets (ROA) was lower from 2012 which arrived at 2.14%. Sharia Banking Return on Equity (ROE) in 2013 was 17.24%, lower from 2012 which achieved 24.06%. Non-Performing Financing (NPF) Ratio decreased from 2.22% in 2012 to 2.62% in 2013. BOPO ratio improved by 3.24%
In general, banking growth was less expected. This was indicated from severing financial ratio though few ratio was improving such as Capital Adequacy Ratio (CAR), Operating Expense to Operating Income (BOPO) Ratio and Non-Performing Loan Gorss (NPL Gross). In 2013, National
PT Bank Syariah Mandiri
Banking Capital Adequacy Ratio (CAR) was 18.13% higher from CAR 2012 which reached to 17.43%. BOPO Ratio decreased by 0.02% from 74.10% in 2012 to 74.08% in 2013. NPL Gross ratio realization in 2013 was 1.77% or declined by 0.10% from 1.87% in 2012
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MANAGEMENT REPORT from 74.97% in 2012 to 78.21% in 2013. Improving ratio was capital (CAR) from 14.13% in 2012 to 14.42% in 2013.
Market Share As of 2013, total bank carrying sharia principle based business activity reached to 197 banks comprising of 11 Sharia Commercial Bank, 23 SBU and 163 BPRS. Considering the assets growth, sharia banking assets to total national banking market share grew from 4.58% in 2012 to 4.89% in 2013. Sharia banking Deposit market share in 2013 was 5.01% rose by 4.57%. Sharia Banking financing to total commercial bank market share was 5.59% in 2013.
7. Obtaining 1st rank at service quality in sharia banking. 8. Implementing Saturn project (synergy with Bank Mandiri and other Bank Mandiri subsidiaries), Corporate Plan 2013 and business alliance with PT Pos Indonesia. 9. Implementing 2nd phase new Core Banking System. 10. Strengthening competency-based human resource through e-Learning development and knowledge management and corporate value (ETHIC) internalization.
On the other hand, to face business challenge in 2013, BSM has implemented Bank business plan for 2013 that was formulated into 5 (five) Bank Key Working Program 1. Profit productivity per employee realization from Rp66.40 million to Rp111.70 million, throughout: a. Net income growth minimum Rp1 trillion.
Bank Strategic Plan
b. Low cost fund growt (min contribution 50%) Stipulation of BSM target and strategy has been aligned with implemented business, that had been implemented and mostly have been achieved in 2013, as reflected from 10 main working priority.
c. Micro and SME financing growth (min. contribution 74%) d. Business efficiency growth (max CER 55.04%) e. FBI growth minimum Rp1.23 trillion.
The Bank 10 working priority in 2013 are as follows: 1. Achieving net income at least to Rp1 trillion. 2. Collecting Deposit at least to Rp10.40 trillion and maintaining consumer fund contribution minimum 55% and low cost fund contribution minimum at 50%. 3. Developing financing prudently at least Rp9.80 trillion with Micro & SME Financing contribution to 74%. 4. Controlling financing quality that NPF Gross will reach maximum 2.30%, NPF Net maximum 1.40% and APY/AP maximum 2.42%. 5. Increasing business effectiveness that cost to income ratio maximum 55.04%.
2. Assets quality controlling (APYD/AP max. 2.42% and NPF Gross max. 2.30% and NPF Net max. 1.40%); 3. Service quality improvement to 1st rank in banking sharia industry; 4. Saturn Project Implementation (synergy with Bank Mandiri and other Bank Mandiri subsidiaries), Corporate Plan 2013, business alliance with PT Pos Indonesia and second phase Core Banking System (CBS); 5. Employees competency development and ETHIC shared values implementation strengthening.
6. Acquiring fee-based income minimum Rp1.23 trillion.
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Besides aforementioned organic growth, the Company also developed un-organic growth strategy, by carrying various synergy program with Bank Mandiri as holding company and other Bank Mandiri subsidiaries. The synergy program is aimed to provide added-value for the Company.
Synergy with Bank Mandiri Group
Performance Realization 2013
Besides aforementioned organic growth, the Company also developed un-organic growth strategy, by carrying various synergy program with Bank Mandiri as holding company and other Bank Mandiri subsidiaries. The synergy program is aimed to provide added-value for the Company.
Amid prolonged global economic crisis and Indonesian economy growth deceleration, BSM performance realization in 2013 was relatively pressured. This was indicated from income target realization failure at 100% which only arrived at 65.12% from targeted RBB which was RP1 trillion. Moreover, assets, financing and fee-based income growth target which were also failed to achieve 100% of RBB 2013, and only Deposit which succeeded to achieve 100% realization.
Synergi program with Bank Mandiri is including: 1. Business sector: micro banking, retail banking, commercial banking, corporate banking, electronic banking and Bank Mandiri network leveraging. 2. Non-bsuiness sector: risk management, internal audit, product development, human capital, etc.
Financing
Synergy program with other Bank Mandiri subsidiaries, including: 1. AXA – Mandiri outlet opening at Bank Syariah Mandiri outlet. 2. Participation of Bank Syariah Mandiri employees in Bank Mandiri Pension Fund Financial Institution.
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As of December 2013, BSM Deposit reached to Rp56.46 trillion or 100.45% from Bank Business Plan target which was RP56.21 trillion. BSM Deposit growth year to date reached to Rp9.05 trillion or 19.09% from Rp47.40 trillion as of December 2012. The Company also continues to maintain consumer fund and low-cost fund. Total financing booked by the Company since 6 recent years is always dominated by consumer fund (fund collected from individual customers) and
Annual Report 2013
MANAGEMENT REPORT low-cost fund (current accoutns and saving accounts). As of December 2013, fund consumer collected contributed 56.91% against total deposit while collected low-cost fund provided 52.47% contribution to total deposit.
Financing BSM financing realization as of December 2013 was booked at Rp50.46 trillion or by 54.77% to RBB target which was Rp53.24 trillion. The financing grew by 12.75% or Rp5.71 trillion to total financing position booked in 2012 to Rp44.75 trillion. Non-corporate sector financing disbursement contribution was from 73.27% in 2012 to 66.89% as end of 2013. Meanwhile, for corporate sector increased from 26.73% as end of 2012 to 33.11% as end of 2013. Increasing corporate financing contribution is expected to bring financing risk to lower level that will bring higher soundness in long-term period. The Company put predominant concern in prudential banking aspect. Therefore, the Company attempts to reduce NonPerforming Financign (NPF). The Company’s NPF Net in 2012 was slightly improved from 1.14% from2 012 to 2.29% as end of 2013.
The Company also maintains consumer and low-cost fund, total financing realization in 6 recent years and always dominated by consumer fund (fund from individual customers) and low-cost fund (current accounts and deposit).
Annual Report 2013
Other Banking Services The Company highly realizes that the capacity to innovate is a key amid more modern and competitive banking industry competition. The Company seeks to perform several innovations to increase banking service modernity. The effort has brought positive contribution to financial performance, as Fee-Based Income (FBI). As a result, in 2013, the Company’s FBI realization was adequate. Achieved FBI in 2013 reached to Rp1.193 trillion or 97.18% from stipulated RBB target which was Rp1.228 trillion. Meanwhile, if compared with performance booked in 2012, grew by Rp54 billion or 4.74%. Other Operating Income was contributed from various income soruce, both on earning asets based, financing product based or transaction based income. President Commissioner of BSM, Achmad Marzuki accompanied by the Board of Directors and End Year Coordiantion Meeting 2013 to unite spirit of participants in achieving implemented business target.
Profitability Since 2007, the Company is always exceeding Return on Equity (ROE) target. Particularly for 2013, the Company only succeeded in achieving ROE to 15.34%, lower from ROE realization in 2012 which was 25.05%. Return on Assets (ROA) of the Company decreased from 2.25% in 2012 to 1.53% in 2013.
Business Efficiency From efficiency aspect, Operating Expense to Operating Income (BOPO) ratio, during 2005 – 2013, shifts fluctuatively with position booked as end of December 2013 to 86.46%. The Company has to maintain the efficiency by optimizing operating income and controlling operating expense.
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President Commissioner of BSM, Achmad Marzuki, accompanied by Board of Directors, and Committee closed End Year Coordination Meeting 2013 to unite spirit of the participants in achieving implemented business target.
Soundness Level
and corporate governance implementation.
Throughout 2013, the Bank Soundness Level generally obtained Rating 2. The reating reflected that the Bank was classified in good condition and the management was sable to settle negative economic and financial industry condition. The assessment is based on PBI No. 9/1/PBI/2007 dated January 21, 2007 on Commercial Bank Soundness Level Assessment System based on Sharia Principle.
Risk profile as of December 31, 2013 position indicated overall composite risk predicate is Moderate with risk management implementation quality at Satisfactory predicate.
The Company conducted soundness level assessment under self-assessment method. The Bank soundness level is applied to measure management’s capacity in managing the bank in particular period under economic and financial industry condition.
2. Market Risk
In 2013, market risk predicate was low and in 2012 was Low
3. Liquidity
In 2013, liquidity risk predicate was Low to Moderate and in 2012 was Low to Moderate
4. Operational Risk
Risk Management
The Bank realizes that macro economy trend in 2013 was less favourable both in global and national circumstances. BSM segment and business preference has brought distinct consequences. To generate high gain on depositors’ income, BSM has to generate high income on financing aspect. In general, this has to be acquired from customers who are lesssensitive against profit sharing and margin which generally also have higher risk exposure than customers who are very sensitive against profit sharing and margin. Aforementined consequency has to be accompanied by firm risk management
PT Bank Syariah Mandiri
1. Credit Risk In 2013, credit risk predicate was moderate and 2012 was Low to Moderate.
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In 2013, operational risk predicate was Moderate and in 2012 was Moderate
5. Legal Risk
In 2013, legal risk predicate is Moderate to High and in 2012 was Moderate
6. Reputation Risk
In 2013, reputation risk predicate was Low to Moderate and in 2012 was Low to Moderate
Annual Report 2013
MANAGEMENT REPORT 7. Strategic Risk
In 2013, strategic risk predicate was Moderate to High and in 2012 was Moderate to High
8. Compliance Risk
In 2013, compliance risk predicate was Low and 2012 was Low
GCG Practice GCG practice is a long-term process which provides result as sustainable values. BSM Internal Self-Assessment actualization refers to assessment indicators which are implementation ofGovernance Structure, Corproate Goveranance Policy, Corporate Goveranance Disclosure and Audit and Internal Control System. Based on Self-Assessmetn internal evaluation carried in 2013, BSM GCG practice in working unit was classied on “Comply” category. For External Self-Assessmetn carried by Bank Indonesia, the Company obtained score 2 in 2013. Therefore, the Company is classified into “Good” category on Good Corporate Goverannce (GCG) practice in 2013. Moreover, there were numbers of awards which can be utilized for appraising GCG implementation quality in the Company such as Annual Report Award. The award is given on October 17, 2013 based on Annual Report 2012 evalaution. The Company won First Winner (Best) on NonListed Private Financial Company. One of the assessment indicators with highest assessment portion is Good Corporate Governance (GCG) aspect. The award was held as cooperation among several institutions such as Ministry of Finance, BI, Bapepam - LK, IDX, IAI, KNKG, Taxation General Directorate. Besides aforementioned awards, BSM also won The Most Trusted Companies award on knowledge – based GCG implementation in 2012 which was given on December 16, 2013 from SWA magazine in cooperation with IICG Foundation.
Annual Report 2013
Corporate Social Responsibility (CSR) The Company is always committed to be a responsible company (corporate citizenship). The company attempts that carried business activity has optimum benefit for external parties (on social, economy and environmental aspects). Respective activity is one of CSR realization. The activity is seekd to inspire every business activity of the Company.
The Company carries CSR activity by cooperating with BSM LAZNAS (National Amil Zakat Foundation) under three programs such as Mitra Umat, Didik Umat and Simpati Umat. Through the partnership, in 2013, the Company disbursed donation to 57,137 individual and 585 institutions with total donation amounted to Rp32.06 billion, grew by 69% from donation disbursement in 2012 which realized at Rp22.42 billion.
The New Fundamentals of BSM Program In 2013, the Company carried The New Fundamentals of BSM (TNF) program to achieve BSM 2020 aspiration in continuously being dominant sharia bank in Indonesia or tp 3 in ASEAn sharia banking industry. The New Fundamentals of BSm program comprises of spiritual foundation, vision, mission, shared values, employee value proposition, leadership characteristic and tag line.
Non-Financial Performance 2013 The Management express appreciation to entire party who has delivered appreciation to the Company. In 2013, the Company won 42 awards from external aprty, both domestic and aboard. The Management viewed the award as objective evaluation as well as accelerator for the Company to continuously improve performance in years to come.
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The Awards are namely as follows: 1. Rating improvement from Fitch Rating & Pefindo from AA (2010) to AA+(idn) (2011-2013). 2. Excellence Service Award 2013, Award to Excellence predicate company in providing positive experience to the customer. The evaluation will be conducted based on survey and the award is given on February 7, 2013 3. The Best Islamic Bank in Indonesia 2013, Award from international agency, Euromoney as best sharia bank in Indonesia based on survey. The award is given on February 26, 2013. 4. The Best Islamic Bank 2013, Award for the best Islamic bank in Indonesia based on Asia money polling to 6000 institutions in Asia. The award was given on September 26, 2013. 5. Annual Report Award, Award from Minister of Finance, BI, Bapepam-LK, IDX, IAI, KNKG, Taxation General Directorate for information disclosure on Annual Report fiscal year 2012. BSM Annual Report obtained best score for Non-Listed Private Financial Company. The award was given on October 17, 2013. 6. The Most Trusted Companies, Award from SWA magazine in cooperation with IICG Foundation for knowledge-based GCG implementation in 2012. The award is based on corporate governance perception index held by IICG. The award was given on December 16, 2013.
Business Prospect 2014 Concerning Indonesian Economy Outlook 2014, Indonesian economic growth in 2014 will be higher from 2013. Indonesian economy will be stable despite decelaration risk on global economy occurred in 2014.
Domestic demand will remain the main contributor of Indonesian economy growth in2 014. Society purchasing power is estimated to be well-maintaned. This is mostly supported by relatively low inflation rate in 2014. In 2014, Indonesian export performance is forecasted will be increased from previous year despite global economy condition which has not indicated improving indicator. This is due to export commodity potential which is assed potential to be developed by increasing added-value. On the other hand, banking industry will generally face similar challenge both on conventional and sharia bankings. Economic stabilization initiative which is estimated to sustain during 2014 will be treated as cause of decreasing banking laon growth rate. Bank Indonesia 9BI) has projected banking industry growth will be decreased in 2014, while, Non-Performing Loan (NPL) will be increased. Although facing major challenge, Sharia Banking still has positive prospect in 2014.Sharia Banking growth scope is widely opened and higher form other banking with relatively equal business scale. Micro sector financing as a business potential to be catered besides retail and consumer markets which have been currently developed. Micro financing also becomes financing exspansion preference which even more conformed with regulation aspect which tends to restrict financing expansion activity (particularly for large exposure).
Inflation rate realization in 2014 is forecated to be lower from 2013. This will be affected with subsidized Oil and Fuel rising price which will be eliminated from annual inflation ate after one year period from the appraised Oil Fuel price. Considering 2014 as General Election year, the policy to increase subsidized Oil Fuel price policy is assumed slightly to occur in 2014.
PT Bank Syariah Mandiri
The Company is continuously committed to become corporate citizenship. The Company seeks that the business activity carried will generate optimum positive benefit for external party (social, economy, environment).
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MANAGEMENT REPORT In the midst of global economy deceleration projection both on global and Indonesian economy and national banking growth, challenge for banking industry player is to balance between growth and maintaining asset quality. BSM assures to have potential to grow qualified manner mainly on sharia banking industry. Therefore, we expect that performance in 2014 will contribute for national banking industry and generally for Indonesian economic growth forward.
has been audited Purwantono, Suherman & Surja Public Accountant Office (member of Ernst & Young (E&Y)) with “Unqualified” opinion.
May Allah SWT will always bless our effort. Wassalamu’alaikum Wr. Wb.
Board of Directors Composition In 2013, composition of BSM Board of Directors consisted of 6 (six) members, a member served as President Director and 5 (five) members served Directors, appointed based on GMS. The Board of Directors appointment has passed fit and proper testmechanism held by Controlling Shareholders. Board of Directors Management remained stable as prior years which comprising of Yuslam Fauzi as President Director, Hanawijaya as Micro and Retail Banking Director, Sugiharto as Network & Asset Management Director, Zainal Fanani as Compliance Director, Achmad Syamsudin as Risk Management Director and Amran P. Nasution as Corporate Banking and Treasury Director. Last but not least, the Board of Directors would like to express appreciation and reward to the Government, regulator, ulama, society, shareholders, customers, business partners and entire BSM employees and big family for every support and trust given. May endless support, BSM will always participate in bringing welfare to society and actualizing BSM as pride sharia bank in Indonesian society. Moreover, we would further disclose BSM financial report in 2013, as stated on this Annual Report, including Financial Statemetns in form of BSM Balance Sheet and Income Loss for fiscal year 2013. The Bank’s Financial Statemetns in 2013
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Jakarta, February 25, 2014 PT Bank Syariah Mandiri Board of Directors
Yuslam Fauzi President Director
Amran Nasution Director
Hanawijaya Director
Sugiharto Director
PT Bank Syariah Mandiri
Zainal Fanani Director
Achmad Syamsudin Director
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MANAGEMENT REPORT Board of Directors Profile
Sugiharto
Amran Nasution
Director
Annual Report 2013
Director
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Yuslam Fauzi
President Director
PT Bank Syariah Mandiri
Hanawijaya Director
PT Bank Syariah Mandiri
Zainal Fanani Director
Achmad Syamsudin Director
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Annual Report 2013
MANAGEMENT REPORT
Yuslam Fauzi
Hanawijaya
Amran Nasution
President Director
Director
Director
Indonesian citizen born in Jakarta on August 28, 1959. Graduated from Faculty of Economy, Universitas Indonesia in 1986. Obtained MBA Degree in 1992 from Arizona State University, USA. Presently is finishing Doctorate Degree at Universitas Indonesia.
Indonesian citizen, born in Jakarta on December 3, 1963. Graduated from Faculty of Agriculture majoring Agrobusiness, Institut Pertanian Bogor in 1986. Ontained MM Degree from Institut Pendidikan Manajemen Prasetya Mulya (Jakarta, 1999).
Career History l Banjarmasin Regional IX Manager, Bank Mandiri l Compliance and Risk Management Director, Bank Syariah Mandiri. l Head of Medium Loan Division, Bank Bumi Daya.
Career History l Consumer Financing Director, Branch Commerce and Product Development, PT Bank Syariah Mandiri. l Compliance, Risk Management and IT Director, Bank Syariah Mandiri l Hub Manager Jakarta Fatmawati PT Bank Mandiri (Persero) Tbk. l Front End Collection Departemen Head PT Bank Mandiri (Persero) Tbk. l Group Head Credit Recovery di PT Bank Mandiri (Persero) Tbk. l Credit Corporate Assistant Relationship Manager Bank Dagang Negara. l Medium-scale Enterprise Credit Analyst Bank Dagang Negara.
Education and Training l CEO Roundtable Meeting-NetherlandsIndonesia Financial Sector Expertise Exchange Programme (NIFSEEP) l Bank Mandiri Assesment Center. Bank Mandiri Leadership Forum l Training Service Strategy for Senior Management in Bank Mandiri. l Interest Rate Paradox & Book Launching “Indonesia Banking Watch 2012 – 2013” l Mandiri CFO Forum 2012. Theme: Creating Optimum Growth Through Efficiency Management.l USINDO “Indonesia as a ‘Global Swing State’: What does it mean for US-Indonesia Relations? l Bank Mandiri Great Leader Program l Mid Year 2012 Franchise Review l Bank Mandiri Great Leader Half Day Workshop Program. Initial Appointment Basis: GMS on June 22, 2005
Education and Training l “Gold Pawning in Sharia Bank: between Investment and Speculation” Seminar. l “Jakarta Muslim Executive Forum” Seminar. l APM-RCG &IIICE 2012 MP3EI Conference. l Murabahah Transaction Implementation in Sharia Banking Workshop l Competitive Strategy Training. l Product Innovation Seminar. Initial Appointment Basis: GMS on June 22, 2005
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Warga Negara Indonesia, lahir di Jakarta, 1 Desember 1965. Lulus dari Fakultas Ekonomi, Jurusan Manajemen, Universitas Trisakti, Jakarta tahun 1989. Career History l Kepala Divisi Korporasi PT Bank Syariah Mandiri l Kepala Divisi Pembiayaan & Investment Banking PT Bank Syariah Mandiri. l Kepala Divisi Treasury dan Dana PT Bank Syariah Mandiri l Kepala Divisi Pembiayaan Menengah dan Ritel PT Bank Syariah Mandiri l Kepala Cabang Utama Bank Susila Bakti Bandung l Account Officer Bank Susila Bakti Bandung Education and Training l Certificate In Corporate Leadership TTE Tingkat Advance VIII Program l Center Of Corporate Leadership l slamic Commercial Law In Banking & Finance Good Corporate Governance, Risk Management & Compliance Management, Arthur Andersen l BSM Leadership Forum “Two Days Strategic Dynamic Workshop l Knowledge Management Implementation Workshop l Indonesia Investment Forum l IBI National Seminar “Economy Outlook 2013: Under Uncertaint Global Economy Perspective”. l Hajj National Seminar Nasional.
Initial Appointment Basis: GMS on June 19, 2007
PT Bank Syariah Mandiri
Zainal Fanani
Sugiharto
Achmad Syamsudin
Director
Director
Direktur
Indonesian Citizen, born in Ngawi on October 24, 1964. Graduated from Faculty of Civil Engineering majoring Transportation, Institut Teknologi 10 November Surabaya (ITS) in 1989. Career History l Head of Performance Planning, Development and Management PT Bank Syariah Mandiri l Head of Relation Manager Retail l Division, Marketing & Branch Development Division PT Bank Syariah Mandiri l Head of Surabaya Branch Office PT Bank Syariah Mandiri l Head of Kalimalang Supporting Branch Office, Bank Susila Bakti. l Head of Rawamangung Supporting Branch Office, Bank Susila Bakti. l Staff of Land Transportation Research & Development Agency, Ministry of Transportation, RI. Education and Training l Indonesian Banking Towards ASEAN Economic Community & MP3EI Implementation Seminar l Service Workshop For Group Head & Service Mindset l Risk Management Cert. Refreshment PROG. LVL.3-5 l mproving Compliance Competency. l Banking Readiness in Welcoming Commercial Banks Share Ownership Restriction l ICA International Advance Certificate in Compliance & Financial Crime of the International Compliance association.
Indonesian Citizen, born in Kediri on November 19, 1960. Graduated from Universitas Muhammadiyah Jakarta Postgraduate Degree in 2003. Presently is finishing Doctorate Degree at Universitas 17 Agustus Surabaya. Career History l Head of Network Development Division PT Bank Syariah Mandiri l Regional Manager of East Java, Bali and Mataram PT Bank Syariah Mandiri l Regional Manager of Middle Java PT Bank Muamalat Indonesia l Coordinator of Corporate Business Restructure Financing Unit PT Bank Muamalat Indonesia l Branch Manager at Fatmawati - Jakarta PT Bank Muamalat Indonesia l Head of Commercial Financing in Surabaya PT Bank Muamalat Indonesia. Education and Training l Financial Inclusion Seminar: Banking Role to Expand Public Access on Financial Service l Bank Mandiri Great Leader Program Half Day Workshop l Bank Mandiri Great Leader Program Half Day Workshop Day 2 l Institutional Investor Forum l Training Service Excellent for Senior Management - PT Bank Mandiri. Initial Appointment Basis: GMS on June 19, 2008
Initial Appointment Basis: GMS on June 19, 2007
PT Bank Syariah Mandiri
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Indonesian citizen, born in Jakarta on July 27, 1965. Graduated from Faculty of Agricultrue, Institut Pertanian Bogor in 1989. Obtained MBA Degree in 1998 from International University Of Japan, Nigata, Japan. Career History l Regional Risk Management III & V, Bank Mandiri l Dept. Head, Commercial Risk Mgt Group, Bank Mandiri l Dept. Head, Retail Credit Risk Mgt. Group, Bank Mandiri l Group Head CRM Retail, Bank Mandiri l Chairman of Credit Monitoring Affairs, BDN Education and Training l Indonesian International Banking Convention 2012 l Payment Agreement for Financing Operation Center (FOC) Workshop l Service Excellence 2012 Kick Off Activity. l Temenos Community Forum (TCF) 2012. l Annual Risk consolidation Conference 2012 l Bank Mandiri Great Leader Program Workshop l Bank Mandiri Great Leader Program Workshop l PT Bank Mandiri, Tbk Investment Forum l Seminar on Banking Industry in An Extremely Dynamic World: Becoming prosperious & profer l Great Leader Bank Mandiri Assessment Programl E-Payment & Security Seminar. Initial Appointment Basis: GMS on June 29, 2010
BANKING BUSINESS REVIEW Management Discussion and Analysis on Bank ‘s Performance
In the middle of sharia banking industry growth year on year by Rp47.25 trillion, BSM is the owner of sharia banking industry largest market share. From total assets, BSM dominated 26.40% sharia banking market share in 2013.
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PT Bank Syariah Mandiri
Jambi - Rattan plait artwork
PT Bank Syariah Mandiri
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Laporan Tahunan 2013
BANKING BUSINESS REVIEW
I
n 2013, Bank Syariah Mandiri (BSM) growth delivered improving performance as the largest market share sharia Bank in Indonesia.
both directly and indirectly
Assets of BSM positively grew by Rp63.97 trillion or 17.95%, while net income booked a negative growth by Rp651.24 billion or -19.17% from previous year.
A. Indonesian Economy and Banking Industry Prospect
Global economy recovery endured in 2013 where the global economic growth slightly decelerated from 3.1% in 2012 to 3.0% in 2013. Global economic slower growth was due to advance countries economic deceleration and followed by emerging countries economic growth revision at the beginning of 2013. Constrained global economic growth encouraged decrease in global commodity price. Moreover, global monetary uncertainty also increased in line with monetary stimulus deduction (tapering off) initiative issued in United States (US). Global economy recovered at 2nd semester of 2013 supported by United States, Japan and economic recoivery at European region, China and India. In 2013, Indonesian economy was decelerated from 6.2% n 2012 to 5.7*% in 2013. The growth was underpinned by household consumption and investment growth. Declining economic growth took place in 2013 was acquired from real export fall due to global economic crisis. Indonesian economic deceleration was also in line with stabilization policy implemented by the Government and Bank Indonesia to bring the economy to more sound and balance directions.
Rupiah currency rate was depreciated during 2013 with major pressure occurred since end of May 2013 to August 2013. The major pressure was mostly affected by higher outlow capital triggered by global economy recovery uncertainty, post-subsidized fuel price rising inflation and global impact due monetary stimulus reduction policy issued by The Fed. Rupiah currency rate was point-topoint deprecated by 20.9% (yoy) from Rp10.075 per US dollar level as end of 2012 to Rp12.170 per US dollar level as end of 2013..
At the end of 2013, BI rate booked at 7.50% level, 175 bps higher fro, 5.75% in 2012. Bank Indonesia took tight monetary policy to mitigate inflation rate and encouraged current transaction deficite adjustment to be more sound and sustain.
1. National Banking
Inflation pressure as of 2013 was relatively high. Consumer price inflation reached to 8.34% year on year (yoy), higher from inflation rate realization in 2012 which arrived at 4.30% (yoy). Inflation rate at 2nd semester of 2013 improved from inflation rate booked throughout 1st semester of 2013. Significant inflation pressure was due to food price turmoil and rising subsidized-oil fuel price. Increase in subsidized-oil fuel price drove higher prices
Annual Report 2013
Volatile food and administered prices group inflation in 2012 each reached to 11.83% and 16.65%. Volatile food inflation was affected by seasonal factor which was higher demand at the end of the year due to religious feast and new years celebration. Moreover, this condition was also affected indirectly by subsidized oil fuel and electricity rising price. In 2013, administered prices inflation was relatively high due to increasing subsidized oil fuel price, electricity tariff and LPG tariff.
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National banking assets reached to Rp4,954.46 trillion in 2013, grew by Rp691.88 trillion or 16.23% (yoy) against assets position booked in 2012 which was Rp4,262.568 trillion. The banking assets growth was lower from assets growth booked in 2012 in sampe period which arrived at 16.69% (yoy). In 2013, Deposit collection grew by Rp438.77 trillion or 13.60% (yoy) from Rp3,225.19 trillion in 2012 to Rp3,663.96 trillion in 2013. Deposit growth booked in 2013 yoy was lower from Deposit growth in 2012 which arrived at 15.81% (yoy).
PT Bank Syariah Mandiri
President Commissioner of BSM, Achmad Marzuki (second from the right) and President Director of BSM, Yuslam Fauzi (first from the left) altogether with Sharia Economy Society (MES) Committee attened CEO Forum event held by MES on June 8, 2013. The event was event for CEO to discuss on behalf of Sharia Economy Progress in Indonesia.
by 0.02% from 74.10% from 2012 to 74.08% in 2013. NPL Gross ratio realization in 2013 was 1.7&% or decreased by 0.10% from 1.87% in 2012. Decreasing banking performance ratio were namely Net Interest Margin (NIM) and Return on Assets (ROA. NIM Ratio decreased by 0.60% from 5.49% in 2012 to 4.89% in 2013. ROA dropped by 0.03% from 3.11% in 2012 to 3.08% in 2013.
On the other hand, disbursed loan booked in 2013 was Rp3,292.87 trillion, grew by Rp585.01 trillion or 21.60% (yoy) from loan position booked in 2012 which arrived at Rp2,707.86 trillion. Based on disbursement type, working capital loan was being the largest contributor on loan year on year growth in 2013. Working capital loan growth was slower from 23.21% (yoy) in 2012 to 20.43% (yoy) in 2013. Meanwhile, investment and consumer loans growth in 2013 was each booked at 34.05% (yoy) and 13.67% (yoy).
Sectorally, loan growth was still supported by trading, restaurant and hotel sectors. Loan growth by year on yar from trading, restaurant and hotel sectors in 2013 reached to 29.24% (yoy), decreased from 2012 which was 34.23% (yoy). With loan market share to 21.36% from total loan, the sector remained overall loan growth basis which contributed 27.20% from loan growth which reached Rp585.01 trillion. Several banking ratio were decreasing though some also booked an improvement. Improving banking ratio in 2013 were Capital Adequacy Ratio (CAR), Operating Expense to Operating Income (BOPO) Ratio and Non Performing Loan Gross (NPL Gross) Ratio. In 2013, Capital Adequacy Ratio (CAR) of national banking was higher from CAR realization in 2012 which reached 17.43%. BOPO ratio decreased
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2. Sharia Banking
In 2013, the Bank carried business activity based on sharia principle covering 197 Banks, comprising of 11 Sharia Commercial Banks, 23 Sharia Business Units and 163 BPRS. In line with respective condition, sharia Bank network has reached 2,990 offices and 1,267 office channelings (OC).
Sharia banking assets grew by Rp47.25 trillion or 24.23% (yoy) in 2013 from Rp195.01 trillion in 2012 to Rp242.27 trillion in 2013. Suported by the assets growth, sharia banking assets market share to national banking assets grew by 4.58% in 2012 to 4.89% in 2013.
Sharia banking deposit grew by Rp36.02 trillionor 24.42% (yoy) in 2013 from Rp147.51 trilion in 2012 to Rp183.53 trillion in 2013. Deposit growth in 2013 was 24.42% (yoy) lower from Deposit growth realization in
Annual Report 2013
BANKING BUSINESS REVIEW 2012 which arrived at 27.81% (yoy). Sharia banking deposit market share in 2013 was 5.01% grew from 2012 which was 4.57%.
From fund disbursement aspect, sharia banking financing growth reached to 24.82% (y0y) lower from financing growth booked in 2012 which was 43.69% (yoy). The sharia banking financing booked Rp36.61 trillion or 24.82% growth from Rp147.50 trillion in 2012 to Rp184.12 trillion in 2014. Sharia banking financing market share to commercial banking in 2013 was 5.59%. Several decreasing sharia banking industry performance ratio were namely ROA, ROA, NPF and BOPI. Sharia banking ROA realization in2 013 was at 2.00%, lower from 2012 which reached 2.14%. In 2013, sharia banking ROE was 17.24% lower from 2012 which reached 24.06%. NPF was decreasing from prior 2.22% in 2012 to 2.62% in 2013. BOPO ratio grew by 3.24% from 74.97% in 2012 to 78.21% in 2013. Improving ratio was at capital (CAR) from 14.13% in 2012 to 14.42% in 2013.
3. Sharia Banking Players
In 2013, there was no addition on new Sharia Commercial bank, thus recored one Sharia Busienss Unit, which was HSBC Syariah that the sharia banking industry plaers comprised of 11 BUS, 23 SBU and 163 BPRS.
B. Asset Market Share
In sharia banking industry which grew year on year by Rp47.25 trillion from Rp195.01 trillion in 2012 to Rp242.27 trillion in 2013, or grew by 24.23%, BSM holds the largest sharia banking industry market share.
From total assets side, in 2013, BSM still domnated 26.40% sharia banking market share; despite 1.41% decrease from market share realization in 2012 which arrived at 27.81%. In 2013, BMS Total assets grew by 17/95% (yoy) or Rp9.74 trillion from Rp54.22 trillion in 2012 to Rp63.96 trillion in 2013. Therefore, BSM contributed 20.60% on sharia banking industry growth in 2013.
(in Rp billion)
Table of BSM Assets to Sharia Banking Market Share Assets BSM
2012
2013
Growth
Assets Market Share
54.229
63.965
9.736
26,40%
Non BSM
140.789
178.311
37.522
73,60%
Sharia Banking
195.018
242.276
47.258
100,00%
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PT Bank Syariah Mandiri
Grafik of BSM Assets to Sharia Banking Market Share
Non BSM 72,19%
2012
BSM 27,81%
Non BSM 73.60%
2013
Grafik of BSM Deposit to Sharia Banking Market Shares
BSM 26.40%
Non BSM 67,86%
BSM 32,14%
2012
Non BSM 69,24%
2013
BSM 30,76%
C. Third Party Fund Market Share
In 2013, BSM deposit grew by Rp9.05 trilllion or 19.09% from Rp47.40 trillion in 2012 to Rp56.46 trillion in 2013. At the same time, sharia banking deposit grew by 24.42% (yoy) from RP147.51 trillion in 2012 to Rp183.53 trillion in 2013.
(in Rp billion)
Table of BSM Deposit to Sharia Banking Market Shares
DPK
2012
2013
Growth
BSM
47.409
56.461
9.052
30,76%
Non BSM
100.103
127.073
26.970
69,24%
Sharia Banking
147.512
183.534
36.022
100,00%
Aforementioned condition drove BSM deposit to sharia banking market share decreased by 32.14% in 2012 to 30.76% in 2013. Decreasing BSM deposit market share due to declining BSM saving and time deposit markets. In 2013, BSM deposit grew by RP9.05 trillion with 25.13% contribution to Sharia banking deposit growth which arrived at Rp36.02 trillion.
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Annual Report 2013
Deposit Market Share
BANKING BUSINESS REVIEW 1. Saving Account Market Share Growth
Growth
BSM Saving account to sharia banking market share negatively grew from 42.48% in 2012 to 38.64% in 2013. BSM Saving booked positive growth by Rp2.95 trillion or 15.42% from Rp19.14 trillion in 2012 to Rp22.10 trillion in 2013. BSM saving account growth contributed 24.35% from sharia banking growth which booked Rp12.12 trillion growth.
Tabel of BSM Saving Account to Sharia Banking Saving Market Share Growth (in Rp billion) Savings
2012
2013
Share Growth
BSM
4.724
2.953
24,35%
Non BSM
7.746
9.175
75,65%
Sharia Banking
12.470
12.128
100,00%
3. Current Accounts Market Share
In 2013, BSM Current Accounts booked positive growth by Rp1.09 trillion from Rp6.43 trillion in 2012 to Rp7.52 trillion in 2013 or grew by 16.96%. BSM Current Account growth contributed 133.89% from sharia banking current account growth which reached Rp815 billion.
Respective condition brought an increase in BSM Current Account to sharia banking Current Account market share which grew by 36.33% in 2012 to 40.63% in 2013.
Table of BSM Current Account to Sharia Banking Current Accoutn Market Share Growth (in Rp billion)
2. Time Deposit Market Share
Current Accounts
Growth BSM Time Deposit booked positive growth by Rp5.00 trillion from Rp21.82 trilllion in 2012 to Rp26.83 trillion in 2013 or grew by 22.94%. BSM time deposit growth contributed 21.70% from sharia banking time deposit which reached Rp21.77 trillion. BSM time deposit to sharia banking time deposit market share booked negative growth from 25.76% in 2012 to 24.89% in 2013.
2012
2013
Share Growth
BSM
1.698
5.008
21,70%
Non BSM
15.624
18.072
78,30%
Sharia Banking
13.926
23.080
100,00%
Annual Report 2013
2013
Share Growth
BSM
1.765
1.091
133,89%
Non BSM
3.937
(276)
-33,89%
Sharia Banking
5.702
815
100,00%
D. Financing Market Share
In 2013, BSM Financing grew by 12.75% or Rp5.71 trillion from Rp44.75 trillion in 2012 to Rp50.46 trillion in 2013. Concurrently, sharia banking financing grew by 24.82% from Rp147.51 trillion in 2012 to Rp184.12 trillion in 2013. BSM financing growth booked in 2013 contributed 27.41% to Sharia Banking Financing growth which arrived at Rp36.61 trillion.
BSM financing to sharia banking financing market share decreased from 30.17% in 2012 to 27.41% in 2013.
Table of BSM Time Deposit to Sharia Banking Time Deposit Market Share Growth (in Rp billion) Time Deposit
2012
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PT Bank Syariah Mandiri
Director of BSM, Sugiharto, represented BSM in Interbank Currency National Transactio Bye Laws Implementation Signing and Inauguration on May 5, 2013.
Table of BSM Financing to Sharia Banking Financing Market Share
(in Rp billion)
Financing
2012
2013
BSM
44.755
50.460
5.706
27,41%
Non BSM
102.75
133.662
30.911
72,59%
147.505
184.122
36.617
100,00%
Sharia Banking
Growth
Table of BSM Financing to Sharia Banking Financing Market Share
Non BSM 69,66%
PT Bank Syariah Mandiri
2012
BSM 30,17%
Non BSM 72,59%
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2013
BSM 27,41%
Annual Report 2013
Financing Market Share
OPERATIONAL REVIEW (Per Business Segment) Management Discussion and Analysis on Bank’s Performance
In 2013, BSM Total Assets increased by 17.95% to Rp63.97 trillion, if compared with assets realization in 2012 which was Rp52.23 trillion. Total Deposit collection grew by 19.09% to Rp56.46 trillion, and total financing disbursement grew by 12.75% to Rp50.46 trillion.
Laporan Annual Tahunan Report2013 2013
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PT Bank Syariah Mandiri
North Sumatera - Batak Tandok artwork
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Annual Report Laporan Tahunan 2013 2013
OPERATIONAL REVIEW (Per Business Segment)
B
ank Syariah Mandiri (BSM) is always committed to meet customers expectation on sharia banking business.
Grafik of Deposit Growth
In 2013, BSM offered growing innovative products. BSM has a product classification, as follows: 1. Deposit financing (savings, time deposit and current accounts), consumer fund and low cost fund. 2. Financing including financing per scheme, financing per economy sector and financing per segment. 3. Product services including products service, operational service and investment service. 4. Services including syariah mandiri priority. Description of BSM product is as follows:
A. Funding
Deposito 46,04%
Tabungan 40,39% 2012
Deposito 47,53%
Giro 13,57%
Tabungan 39,14% 2013
Giro 13,33%
Significant Deposit growth was followed by total accounts which grew by 1,658,643 accounts or by 38.48% from 4,310,229 accounts in 2012 to 5,968,872 accoiunts in 2013. Average monthly deposit growth in 2013 reached to 138,221 accounts.
Table of Total Deposit
1. Total Deposit
Description Savings
Total deposit collection as end of December 2013 reached to Rp56.46 trillion, grew by Rp9.05 trillion or 19.09% to total Deposit collected in 2012 which was Rp47.40 trillion. Deposit was acquired from savings, current accounts and time deposit.
Current Account Time Deposit Total
2012
2013
4.155.632
5.787.208
53.334
61.999
101.263
119.665
4.310.229
5.968.872
2. Consumer and Institution Fund Composition
In 2013, Consumer Fund Composition decreased to 56.91% from previous year which was 59.25%. While, Institution Fund Composition increased by 43.09% from previous year which was 40.75%.
Table of Deposit Growth
(in Rp billion) Growth in 2012-2013
Description
2009
2010
2011
2012
2013
Savings
9.873
14.424
14.424
19.148
22.101
2.953
15,42
Current Accounts
4.015
4.669
4.669
6.434
7.525
1.091
16,96
Time Deposit
15.110
23.525
23.525
21.827
26.834
5.007
22,94
Total
28.998
42.618
42.618
47.409
56.461
9.052
19,09
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Nominal
%
PT Bank Syariah Mandiri
Table of Consumer and Institution Fund Composition
(in Rp billion)
2012
Composition
2013
Composition
Consumer
28.092
59,25%
32.132
56,91%
4.040
14,38
Institution
19.317
40,75%
24.329
43,09%
5.012
25,95
Total
47.409
100,00%
56.461
100,00%
9.052
19,09
Institution 40,75%
2012
Consumer 59,25%
Institution 43,09%
2013
Nominal
%
4. Deposit
Grafik of Consumer and Institution Fund Composition
a. Saving Accounts
Consumer 56,91%
3. Low Cost Fund Composition
Growth
Description
Low Cost Composition decreased to 52.47% from previous year which was 53.96%. While, financing for time deposit rose to 47.53% from previous year which was 46.04%.
As end of 2013, public fund collection as saving accounts reached to Rp22.10 trillion, grew by 15.42% or Rp2.95 trillion form Rp19.14 trillion in 2012. Saving accounts of BSM comprises of BSM Savings (Mudaharabah), BSM Saving Plan, BSM Simpatik Saving, BSM Mabrur Saving, BSM Investa Cendikia Saving and TabunganKu. Highest growth by nominal contributed by BSM Saving (Mudharabah) by Rp17.10 trillion. Total Saving NoA as end of 2013 reached to 5,786,206 accounts, increased by 1,630,574 accounts or 39.24% from 2012 which was 4,155,632 accounts.
table of Low Cost Fund
(in Rp billion)
Description
2012
Composition
2013
Composition
Growth Nominal
%
Low cost
25.582
53,96%
29.626
52,47%
4.044
15,81
Time deposit
21.827
46,04%
26.834
47,53%
5.007
22,94
Total
47.409
100,00%
56.461
100,00%
9.052
19,09
Grafik of Low Cost Fund
Time deposit 46,04%
2012
Low cost 53,96%
PT Bank Syariah Mandiri
Time deposit 47,53%
2013
Low cost 52,47%
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Annual Report 2013
OPERATIONAL REVIEW (Per Business Segment) Table of Saving Product No
(in Rp million)
Description
2012
2013
Growth Nominal
%
1
BSM Saving Plan
147.581
157.425
9.844
6,67
2
BSM Investa Cendikia Saving
246.351
292.035
45.684
18,54
3
TabunganKu
308.198
377.309
69.111
22,42
4
BSM Simpatik Saving
5
BSM Mabrur Saving
6
BSM Saving (Mudharabah)
Total
593.326
1.230.641
637.315
107,41
2.674.435
2.939.993
265.558
9,93
15.178.086
17.103.824
1.925.738
12,69
19.147.977
22.101.227
2.953.250
15,42
2012
2013
Table of Saving Products Total Accounts Description
%
1. BSM Saving Plan
60.473
64.018
3.545
5,86
2. BSM Investa Cendikia Saving
49.957
52.711
2.754
5,51
3. TabunganKu
237.755
286.741
48.986
20,60
4. BSM Simpatik Saving
759.559
1.714.252
954.693
12,56
5. BSM Mabrur Saving 6. BSM Saving (Mudharabah) Total
779.012
924.399
145.387
18,66
2.268.876
2.744.085
475.209
17,32
4.155.632
5.786.206
1.630.574
In 2013, Saving accounts grew by 15.42% from position booked in 2012 which was Rp19.14 trillion. The saving accoutns growth in 2013 was supported by TabunganKu growth by 20.60%, BSM Mabrur Saving by 18.66%, BSM Saving (Mudharabah) by 17.32%, BSM Simpatik Saving by 12.56%, BSM Saving Plan by 5.86%, and BSM Investa Cendikia Saving by 5.51%..
Detail of saving products in BSM are namely as follows:
1) BSM Saving (Mudharabah)
Growth Accounts
As end of 2013, BSM Saving reached to Rp17.10 trillion. BSM Saving (Mudharabah) growth booked at Rp1.92 trillion. BSM Gelegar Hadiah, Gathering, Sahabat and
Annual Report 2013
39,24
several other programs were being supporting factors of BSM Saving Accounts growth.
JTotal BSM Saving (Mudharbah) NoA as end of 2013 reached to 2,744,085 accounts. Total BSM Saving (Mudharabah) NoA grew by 475,209 accounts or 17.32% from previous year which was 2,268,876 accounts.
2) BSM Mabrur Saving Throughout 2013, BSM Mabrur Saving reached to Rp2.93 trillion. In 2012, BSM Mabrur Saving growth to Rp265.55 billion or 9.93% from position booked in 2012 which was Rp2.67 trillion. Total BSM Mabrur Saving NoA reached to 924,399 accounts, grew by 145,387 accounts or 18.66% from 2012 which was 779,012 accounts.
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PT Bank Syariah Mandiri
3) BSM Saving Plan In 2013, BSM Saving Plan growth reached to Rp157.42 billion. In 2013, BSM Saving Plan Growth booked Rp9.84 billion or 6.67% growth from 2012 which was Rp147.58 billion. Total BSM Saving Plan NoA booked at 64,018 accounts, grew by 3,545 accounts or 5.86% from 2012 which was 60,743 accounts. 4) BSM Investasi Cendikia Saving BSM Investasi Cendikia Saving achieved progressive growth in 2013 was namely due to “BSM Ceria” program as BSM Investasi Cendikia Saving and BSM Saving product bundling program. In 2013, BSM Investasi Cendikia Saving growth reached to Rp292.03 billion, grew by Rp45.68 billion or 18.54% from 2012 which was Rp246.35 billion.
Total BSM Investasi Cendikia Saving NoA reached to 52,711 accounts, grew by 2,754 accounts or 5.51% growth from position booked in 2012 which was 49,957 accounts.
5) BSM Simpatik Saving In 2013, BSM Simpatik Saving growth reached to Rp1.23 trillion, increased if compared with 2012. BSM Mabrur Saving Account growth reached to 924,399 accounts, grew by 145,387 accounts or 18.66% from 2012 which was 779,012 accounts. 6) TabunganKu In 2013, TabunganKu Saving growth reached to Rp377.30 billion, increasing if compared with 2012. TabunganKu Saving growth booked Rp69.11 bilion or 22.42% growth in 2013 to position booked in 2012 which was Rp308.19 billion. Partnership with educational institution also contributed in increasing TabunganKu growth. Total TabunganKu NoA as end of 2013 reached to 286,741 accounts, grew by 48,986 accoutns or 20.60% from 2012 which was 237,755 accounts.
b. Time Deposit
As end of 2013, public deposit realization as time deposit reached to Rp26.83 trillion, grew by 22.94% or Rp5.00 trillion from Rp21.82 trillion in 2012. BSM Time Deposit is in two currencies of Rupiah and Dollar.
Table of Time Deposit Product Type No
Description
1
BSM Rupiah Time
2
BSM Foreign
Total
(in Rp million) 2012
2013
20.579.200
24.361.001
3.781.801
% 18,38
1.247.444
2.473.253
1.225.809
98,27
21.826.644
26.834.254
5.007.610
22,94
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Growth Nominal
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Total Time Deposit NoA as end of 2013 reached to 119.665 accounts. In 2013, Time Deposit NoA grew by 18,400 accounts or 23.29% from position booked in 2012 which was 101,263 accounts.
Annual Report 2013
OPERATIONAL REVIEW (Per Business Segment) Total Time Deposit Product Accounts Description 1. BSM Rupiah Time 2. BSM Foreign Total
2013
97.804
116.032
18.226
18,63
3.459
3.633
174
5,03
101.263
119.665
18.400
23,29
1) BSM Rupiah Time Deposit
In 2013, BSM Rupiah Time Deposit growth reached to Rp24.36 trillion. BSM Rupiah Time Deposit Grwoth grew by Rp3.78 trillion or 18.38% in 2013 from position booked in 2012 which was Rp20.57 trillion.
In 2013, BSM Foreign Currency Time Deposit growth reached to Rp2.47 trillion.
%
BSM Foreign Currency growth booked Rp1.22 trillion or 98.27% growth in 2013 from position booked in 2012 which was Rp1.24 trillion. Total BSM Foreign Currency BSM NoA as end of 2013 reached to 3,633 accounts, 174 accounts or 5.03% higher from 2012 which was 3,459 accounts.
c. Current Accounts
Total BSM Rupiah Time Deposit NoA as end of 2013 reached to 116,032 accoutns, grew by 18,226 accounts or 18.63% from 2012 which was 97,804 accounts.
2) BSM Foreign Currency Time Deposit
Accounts
Description of BSM Time Deposit product is as follows:
Growth
2012
As end of 2013, public deposit realization as current accounts booked at Rp7.52 trillion. Current account growth reached Rp1.09 trillion or 26.96% growth in 2013 from position booked in 2012 which was Rp6.43 trillion. BSM Current account product conists of BSM Rupiah Current Account, BSM Euro Current Account, BSM Dollar Current Account and BSM Singapore Dollar Current Account.
Type of Current Accounts Product Description 1. BSM Rupiah
2012
%
2.725
2.373
352
1.175.849
1.418.877
243.028
20,67
4. BSM Singapore Dollar Current Account Total
Growth Nominal
1 6,18 12,92
5.251.534
2. BSM Euro Current 3. BSM Dollar
2013 6.101.470
849.936
3.961
2.541
1.420
35,85
6.434.069
7.525.261
1.091.192
16,96
Annual Report 2013
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PT Bank Syariah Mandiri
(in Rp million)
Total Current Accounts Product Account No
Description
2012
2013
1
BSM Rupiah
5.251.534
6.101.470
2
BSM Euro Current
3
BSM Dollar BSM Singapore Dollar Current Account
4 Total
Growth
Nominal 849.936
% 16,18
2.725
2.373
(352)
(12,92)
1.175.849
1.418.877
243.028
20,67
3.961
2.541
(1.420)
(35,85)
6.434.069
7.525.261
1.091.192
16,96
Growth of BSM Current account reflected BSM customers business activity. Total Current Account NoA as end of 2013 reached to 61,999 accounts, increased by 8,665 accounts or 16.20% from 2012 which was 53,334 accounts.
Account growth booked Rp243 billion or 20.67% increase in 2013 if compared with previous year which was Rp1.17 trillion.
Description of BSM Current Account product is as follows:
Total BSM USD Current Account NoA as end of 2013 reached to 682 accounts or 8.20% from 2012 which was 8,068 accounts.
1) BSM Rupiah (IDR) Current Account
4) BSM Singapore Dollar Current Account
Throughout 2013, BSM Wadiah Yad Dhamanah (IDR) Current Account growth reached to Rp6.10 trillion. BSM Rupiah Current Account growth brought Rp849 billion or 16.18% growth in 2012 from position booked in 2012 which was Rp5.25 trillion. Total BSM Rupiah Current account as end of 2013 reached to 52.924 accounts, increased by 7,976 accounts or 17.74% from 2012 which was 45,170 accounts.
2) BSM Euro Current Account
In 2013, BSM Euro Current Account growth reached to Rp2.37 billion. BSM Euro Current Account growth booked a decrease by Rp352 million or negative 12.92% growth in 2013 from position booked in 2012 which was Rp2.72 billion. Total BSM Euro Current Account NoA as end of 2013 was to 31 account, remained stable if compared with 2012.
3) BSM Dollar (USD) Current Account
In 2013, BSM USD Current Account growth reached to Rp1.41 trillion. BSM USD Current
PT Bank Syariah Mandiri
In 2013, BSM Singapore Dollar BSM growth reached to Rp2.54 billion. BSM Singapore Dollar Current Account growth booked a decrease of Rp1.42 billion or negative 35.85% from 2012 which was Rp3.96 billion. Meanwhile, total BSM Singapore Dollar Current Account NoA as end of 2013 reached to 73 acounts or grew by 7 accounts or 10.6% fro, 2012 whih was 65 accounts.
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Throughout 2013, BSM conducted several programs to increase Deposit to meet customers expectation, among others: a) Cash Management
Cash Management is a program to support institution customers to manage their funds. Offered products are Pooling Fund, Multi Level Account, Batch Transfer and Payroll. Other partnership which are available are Co-Branding, Multi Bank Payment and Multi Channel Payment.
Annual Report 2013
OPERATIONAL REVIEW (Per Business Segment) b) BSM Sahabat BSM Sahabat is member get member program, where the participants invite others to register as BSM customers. Program participant (referee) will receive cash incentive based on volume of referred customers fund. BSM Sahabat also becomes word of mouth based marketing.
h) Hajj Pilgrim Gathering through KHIH and PIHK
In 2013, BSM held hajj pilgrim gathering through KBIH and PIHK at 100 Branch Offices and 150 Supporting Branch Offices. In its implementation, BSM prioritized gathering event at hajj and umra pilgrim potential branches.
i)
BSM You & Friends Program
BSM You & Friends Program is a new customers acquisition program of BSM Priority under referreal scheme. Every BSM Priority customer who gives reference or Referred BSM Priority New Customer with fund deposit minimum to Rp250 million will received voucher as reward.
j)
Direct Sales Force
Direct Sales Force program is a retail customer acquisition program held by recruiting employees who hold a potential to collect fund or acknowledged as Sharia Funding Executive.
c) BSM Mitra Kerja
BSM Mitra Kerja is a community program in cooperation with BSM.
d) BSM Fantasi
BSM Fantasi is a direct gift program. The program is applied for saving product (BSM Saving, BSM Simpatik Saving, BSM TabunganKu) and BSM Current Account.
e) BSM Prima Current Account
BSM Prima Current Account is a transaction fee assistance facility for BSM Current Account customers with certain average balance requirement. BSM Prima Current Account is mainly dedicated to traders community who are sensitive against bank’s transaction fee.
f) BSM Rejeki Sembako (BSM Direct Gift)
B. Financing
BSM Rejeki Sembako includes direct gift program with specific gift, groceries package (Sembako). The program is only applied for BSM Saving new account registration.
1. Financing per scheme, such as Murabahah, Mudharabah, Musyarakah and other financings. 2. Financing per economy sector, such as agriculture, mining, manufacturing, electricity, gas, water, construction, trading, transportation and communication, business service, social service and other sectors financing. 3. Financing per segment such as corporate, commercial, small, micro and consumer financing
g) Overseas Marketing
Overseas marketing is BSM initiative to generate Indonesian Workforce account registration aboard, mainly in countries wehere BSM has working partners (remittance or SFE).
Annual Report 2013
Throughout 2013, BSM has disbursed financing for all business segment amounting to Rp50.46 trillion, grew by Rp5.70 trillion or 12.75% from total financing in2 012 which was Rp44.75%. BSM financing product is classified into several groups, as follows:
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PT Bank Syariah Mandiri
BSM Financing Growth 2009 – 2013 period description Financing
(in Rp billion)
2009
2010
2011
2012
2013
16.063
23.968
36.727
44.755
50.460
BSM Financing
Rp Miliar 50.000
Growth Nominal
%
5.705
12,75
50.460 44.755
45.000 40.000
36.727
35.000 30.000
23.968
25.000 20.000 15.000
16.063
10.000 5.000 0 2009
Financing and Composition
a. Financing per Scheme
2011
2010
In 2013, financing portfolio was still dominated by financing under murabahah scheme amounted to Rp33.21 trillion or 65.81% from total BSM financing portfolio, increased from financing portion under murabahah scheme as end of 2012 which was Rp27.55 trillion or 61.56% to total BSm financing portfolio. Meanwhile, financing portion under musyarakah scheme reached to Rp7.34 trillion or 14.54%, increased of compared with end of 2012 which was Rp6.34 trillion or 14.16%. Financing composition under mudharabah and other schemes booked a decrease from previously 9.55% and 14.74% as end of 2012 to 7.75% and 11.90% as end of 2013.
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135
2012
2013
b. Financing per Economy Sector
Growth of financing on several economy sectors booked an increase such as for electricity, gas and water by 45.83%, business service by 31.36%, mining by 26.33%, transportation & communication by 12.95%, industry 3.43%, trading 3.36%, and other sectors by 11.37%. Meanwhile, growth of agriculture, construction and social service sector slightly decreased by 5.01%, 8.41% and 1.05%.
Annual Report 2013
OPERATIONAL REVIEW (Per Business Segment)
c. Financing per Segment
As end of 2013, corporate financing reached to Rp12.41 trillion with 24.61% contribution. The composition was lower if compared with corporate financing portion in 2012 which was 22.34%.
Financing per scheme for 2012 – 2013 period
(in Rp million) 2012
description
2013
Nominal
Share (%)
Nominal
Share (%)
Murabahah
27.549.264
61,56
33.207.376
65,81
Mudharabah
4.273.760
9,55
3.908.764
7,75
Musyarakah
6.336.769
14,16
7.338.125
14,54
others total financing per scheme
6.595.015
14,74
6.006.170
11,90
44.754.808
100,00
50.460.435
100,00
Financing per Economy Sector No
Description
1
Agriculture
2
Mining
3
Manufacturing
(in Rp million) 2012
2013 Nominal
Growth
Nominal
Share (%)
1.727.718
3,86
1.641.195
Share (%) 3,25
Nominal (86.523)
-5,01
%
455.698
1,02
575.694
1,14
119.996
26,33
2.188.967
4,89
2.264.139
4,49
75.172
3,43
4
Electricity, Gas and Water
758.593
1,69
1.106.287
2,19
347.694
45,83
5
Construction
3.243.536
7,25
2.970.735
5,89
(272.801)
-8,41
6
Trading
4.832.779
10,80
4.995.222
9,90
162.443
3,36
7
Transportasi & Communication
1.731.000
3,87
1.955.140
3,87
224.140
12,95
9.293.456
20,77
12.207.762
24,19
2.914.306
31,36
897.829
2,01
888.373
1,76
(9.456)
-1,05
8
Business Service
9
Social Service
10
others
19.625.232
43,85
21.855.888
43,31
2.230.656
11,37
Total
44.754.808
100,00
50.460.435
100,00
5.705.627
12,75
In 2013, commercial financing reached to Rp7.56 trillion with 14.99% portion, decreased if compared with commercial financing portion booked in 2012 which was 17.37%. Micro and small business financing realization in 2013 reached to Rp8.6 trillion with 17.08% portion, increasing if compared with micro and small business financing booked in 2012 which was 16.44%.
Annual Report 2013
136
In 2013, financing consumer reached to Rp21.85 trillion with 44.31% portion, higher if compared with consumer financing realization in 2012 which was 43.85%.
PT Bank Syariah Mandiri
Financing per Segment No 1
Description
(in Rp billion) 2012 Nominal
2013 Share (%)
Nominal
Growth Share (%)
Nominal
%
2.419.091
24,19
10.000.429
22,34
12.419.520
24,61
Commercial (medium)
7.773.363
17,37
7.566.735
14,99
(206.628)
-2,66
Micro and Small Enterprise
7.355.784
16,44
8.618.293
17,08
1.262.508
17,16
19.625.232
43,85
21.855.887
44,31
2.230.655
11,37
44.754.808
100,00
50.460.435
100,00
5.705.627
12,75
Corporate
2 3 4
Consumer Total
The Bank’s financing segmentation classification was stipulated based on: 1. Primary Indicators 2. Secondary Indicators with priority based on Gross Annual Sales (GAS) which later as customers lending limit.
Financing Segmentation Classification No 1
2
Segmentation Mikro
Small
Secondary Requirement
Primary Requirement program financing (limit to Rp100 million) 1. Micro Financial Institution (KJKS, BMT) 2. BPRS 3. Cooperative on productive purpose 4. program financing (limit exceeding Rp100 million) 5. Financing under partnership scheme 6. Company with GAS to Rp10 billion
GAS
Limit
-
to Rp100 million
to Rp10 billion
> Rp100 million to Rp1.5 billion
> Rp10 billion to Rp150 billion
> Rp1.5 billion to Rp30 billion
3
Commercial
1. ROE and Subsidiary 2. Local Government/Agency 3. Educational Institution 4. Hospital/Clinic
4
Corporate
1. SOE and Subsidiary 2. Non-Ministerial State Agency
>Rp150 billion
>Rp300 billion
Retail
1. Cooperative for consumer purpose 2. Multifinance under channeling scheme for consumer purpose 3. Consumer Financing
-
-
5
PT Bank Syariah Mandiri
137
Annual Report 2013
OPERATIONAL REVIEW (Per Business Segment)
Description of financing per business segment is as follows:
financing accelerator. Regarding the prudential banking will be continuously regarded as principal for BSM.
1) Corporate Financing
Realization of BSM support in bringing national sharia banking growth to higher level is by assisting corporate customers business expansion throughout financing both for investment and working capital on major industry sectors with positive growth record and complies with the bank’s risk appetite. BSM proactively conducted sustainable communication and more intensive visit to corporate customers as an effort to maintain corporate financing customers continuity that any potential issue will be immediately deteceted and settled appropriately.
2) Commercial (Medium) Financing
a) Corporate Financing Growth
In 2013, BSm had disbursed corporate financing to Rp2.41 trillion or grew by 24.19% from prior Rp10 trillion in 2012 to Rp12.41 trillion as end of 2013.
Corporate financing is dedicated for business and working capital development and integration. Focus of corporate financing is targeted to 3 (three0) major sectors such as business service sector to Rp12.20 trillion or 24.19%, trading sector to Rp4.99 trillion or 9.90% and construction sector to Rp2.97 trillion or 5.89%.
b) Special and Syndicated Loan
In 2013, BSM carried Corporate Plan 2011 – 2015 project. One of the implemented project was policy shifting on commercial financing segmentation criteria which had been prepared in 2012. Carrying the policy changing, there was a shifting on commercial financing position at BSM from previously Rp3.74 trillion as end of 2012 to Rp4.15 trillion at the beginning of 2013. The growth was contributed from corporate segment to commercial segment shifting reaching to Rp479.25 billion, the shifting on small commercial to commercial segment reached to Rp64.7 billion and commercial to small commercial segment shifting reached to Rp130.49 billion. Throughout 2013, BSm realized commercial financing growth to Rp1.33 trillion or grew by 23.47% from commercial financing growth realization which arrived at Rp1.08 trillion.
a) Objective of Commercial Financing Disbursement
To support corporate financing, BSM disbursed sound financing through sharia syndicated financing and club deal and built professional agency to contribetu on BSM fee based income growth. Throughout the syndicated loan, BSM is expected to take part as sharia banking syndicated financing and significant fund
Annual Report 2013
In 2013, BSM disbursed syndicated loan with Rp519 billion or 46.80% growth from previously Rp1.10 trillion in 2012 to Rp1.62 trillion in 2013. Amid tight business competition, BSm seeks to achieve the target. In relatively young ages, the Bank’s contribution shall not be underestimated as well as BSM contribution for Sharia Bankingindustry particularly on syndicated loan realization.
138
Composition of financing disbured by BSM based on its realization purpose was classified on working capital and investment purpose. In 2013, BSM commercial financing was mostly disbursed for investment purpose to 63.18%, while 36.82% was disbursed as working capital. The composition was different from 2012 where BSM commercial financing was mostly used for
PT Bank Syariah Mandiri
enterprise becomes challenge and opportunity to increase financing portfolio in respective segment.
investment purpose at 52.51% and 47.49% used as working capital
b) Commercial Financing Scheme
In 2013, Commercial financing customers NPF reached to Rp328.7 billion, improving if compared with NPF realization in 2012 which was Rp136.9 billion. The position contributed 6.07% from total BSM commercial financing, improving from 2012 which was 3.66% from total BSM commercial financing.
3) Micro and Small Enterprise Financing
BSM assumes amount of small enterprise units indicated huge effort to be carried in empowering the segment, also as an opportunity to increase financing portfolio in respective segment. Numbers of lication, sector and community related with financing economic scale. Aforementioned condition shall be treated positively by carrying developmental initiatvey by banking players.
To cater small segement customers which often burden by limitation of the segment’s enterpreneurs, both from internal and external factors. Internal factor refers to inadequate knowledge and insight to access the bank’s financing,as well as limited collateral and equity which able to pe provided by small enterprise. External factor refers to significant mismatch between financing scheme with small customer needs. On the other hand, the bank’s infrastructure is often not-ready to cover small enterprise spread all over Indonesia.
In overcoming such burden, strategies carried by BSm to increase small enterprise financing portfolio are namely as follows:
BSM disbursed commercial financing on several economy sector. In 2013, BSM commercial financing was dominated by Business Service sector at 24.91%. The domination was relatively equal with financing disbursement in 2012 which was dominated by business service at 25.87%.
d) Non-Performing Commercial Financing
c) Commercial Financing on Economy Sector
BSM commercial financing composition based on its realization scheme was classified into 2 major scmees which were murabahah, musyarakah including Revolving Fund Financing (PDB). In 2013, realization of financing under murabahah scheme was 62.09% from total commercial financing, relatively equal with 2012 realization which was 61.77%. Financing under musyarakah scheme reached to 22.70% from total commercial financing. Meanwhile, PDB Musyarakah financing reached to 13.64% in 2013.
To support economic growth on real sector and assist the Governmetn in preparing workforce, BSM has a commitment to disburse financing for small and micro enterprises. The importance in empowering small
PT Bank Syariah Mandiri
139
Throughout 2013, BSM disbursed small enterprise financing with Rp821 billion or 18.64% growth from Rp4.40 trillion as end of 2012 to Rp5.22 trillion as end of 2013.
1.
Increasing small customers and linkage partner capacity building to be able and developed to serve small customers. To increase linkage partner capacity building mainly LKMS, BSM cooperates with several LKMS supporting agencies in providing training, assistance and supervision. 2. Entering financing program cooperation with the Government to acquired financing, liquidity or other facilities to boost financing for small segment.
Annual Report 2013
OPERATIONAL REVIEW (Per Business Segment) Small Segment Financing (in Rp billion) Description KUR DNS KLH Small Commercial Others Total
2012 Nominal
2013 Share (%)
Share (%)
35,25
1.387
26,55
32
0,73
41
0,78
2.524
57,32
3.789
72,53
295
6,70
7
0,13
4.403
100,00
5.224
100,00
3. Entering partnership scheme where BSM acts as small enterpreneurs facilitator with major enterpreneurs under Core Partnership Scheme, where the core company guarantees the market and technology assistance. 4. Developing technology based small financing montiorign system to provide effectiveness and reduce financing monitoring cost.
Type of investment financings which are eligible to be supported under this scheme are: a) Pollution prevention equipment; Clean Production Equipment; Energy Efficiency and Technology Development; Ozon Protection Equipment. b) Recycle industry which reders to every equipment to save natural resources and reduce waste (Recycle of waste, plastic, metal and timber). c) End-of-pipe technologies: Waste water management installation; air pollution controlling installation; garbage management installation. d) Laboratory Tools Emission analysis equipmet to repair motor vehicle. e) Laboratory Tools for environmental quality analysis Environmental friendly raw material usage and environmental friendly industry certification.
a) Small Financing Scheme
Nominal
1.552
As a sharia bank with affirmative mission for small economy segment, Bank Syariah Mandiri (BSM) attempts to raise its participation in empowering small enterprise throughout various financing scheme both commercial and program. Program financing disbursed by BSM is a cooperation between BSm with several Government Institution such as Coordinative Ministry of Economy, Ministry of Agriculture and Ministry of Environment. Program financing scheme managed by BSM in 2013, consisted of: 1. Financing with DNS – KNLH fund refers to partnership between BSM and Ministry of Environment (KNLH) to fnance micro and small neterprises by applying Debt for Natura Swap (DNS) on environmental sector. The DNS – KNLH financing realization is generally for investment financing. Total fund/plafond managed by BSM on this financing is Rp83.39 billion, with financing outstanding to Rp41 billion.
Annual Report 2013
2. Special financing on agriculture sector by utilizing SP-3 (Agriculture Financing Service Scheme) facility. Under the financing scheme, being the cooperation between BSM and Ministry of Agriculture to assist farmers/farmer group with feasible but not bankable business due to inadequate collateral by providing risk allowance and financing guarantee service
140
PT Bank Syariah Mandiri
Director of BSM, Hanawijaya (fifth from left) after speaking at Umma Economy Development Seminar on January 10, 2013. BSM continuously supports Micro & SME growth as part of a commitment in improving society’s welfare.
payment. The utilization of SP-3 financing is for investment and working capital financing targeting farmers/breeders on small business scale. Total disbursed plafond on SP-3 program financing reached to Rp276.62 billion for 1,601 customers. Total Sp-3 program customers had been matured or claimed in 2013. As end of 2013, from SP-3 fund program of Rp110 billion, only Rp2.9 billion of SP-3 Program Fund claimed to cover loss-classified financing. SP-3 Financing is dedicated for farmers/breeders as customers who have business on food plants, horticulture, livestock and or plantations which namely classified as a) Individual; b) Groups/Business Group; c) Legal Entity or Non-Legal Entity Group. 3. Financing under Micro Loan (KUR) Program which is Government of RI Guarantee Program as the realization of Inpres No. 6 of 2007 to increase financing access and deelop small, medium and cooperative business to elevate/ eradicate poverty and broaden working opportunity. BSM is the only Sharia Bank who participates on the program. Total BSM KUR disbursement and financing in 2013 reached to Rp874.75 billion for 15,964 customers.
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141
b) Micro Enterpreneurs Financing
BSM micro shop is a financing service at branch and supporting branch office for micro category customers. Maximum plafond provided to the custoemrs through BSM micro shop is Rp100 million based on current micro business maximum demand. As end of 2013, Micro Shop Outlet had been opened to 457 Outlets spread all over Indonesia.
In 2013, BSM disbursed financing through micro shop with growth reaching to Rp622 billion from Rp1.59 trillion in 2012 to Rp2.37 trillion as end of 2013.
Main target of Micro Shop market is individual/ business who needs investment/working capital financing to Rp100 million for productive activity. The example of this category customers are traders at traditional market, motorcycle workshop business, household industry, haberdasher and other customers.
Based on Financing Procedure, Micro Shop also may finance multipurpose financing to Rp100 million. Micro financing product and requirement are adjusted with the micro business characteristic.
Annual Report 2013
OPERATIONAL REVIEW (Per Business Segment) Presently, micro business has 5 product classification, such as: 1. Tunas Financing (plafond from Rp2 million to Rp10 million). 2. Madya Financing (Plafond > Rp10 million to Rp50 million) 3. Utama Financing (Plafond > Rp50 million to Rp100 million) 4. Micro Shop KUR Financing (maximum plafond to Rp20 million) 5. Multiguna Financing (maximum plafond to Rp50 million)
Throughout 2013, BSM gold pawn financing booked 17% or Rp1.23 trillion decrease, from Rp1.05 trillion to Rp1.23 trillion. The outstanding growth was followed by Pawn FBI growth to 37.8% or Rp59 billion to Rp215 billion as of December 2013.
As of December 2013, total BSm gold pawn outlet reached to 393 outlets, increased from previous year which was 353 outlets as end of 2012. Moreover, BSM also conducted outlet remapping or relocation at BSM office network, which less-strategic 35 outlets location closed and relocated to more strategic locations.
1. Alliance with Strategic Partners
Through Micro Shop service, micro enterpreneurs business access is expected to have wider access to BSM financing service.
c) BSM Gold Pawn Financing
2013 become challenging year for national gold Pawn business. Besides prolonged impact of Bank Indonesia Circular Letter No. 14/7/DpbS dated Februry 29, 2012 issuance on Gold Guaranteed Qard Product for Sharia Bank and Sharia Business Unit, stated several restriction on Sharia Banking gold pawn business, also accompanied by less conducive economic situation indicated by fluctuative with decreasing trend gold price.
To expand pawn network coverage, BSm opened distribution channel with third parties. In 2013, BSM succeeded in realizing partnership with several partners (PT Pos Indonesia, Bank Mandiri, Bank Sinar Harapan Bali). As of December 2013, total BSM gold pawn outlets which had been operated reached to 40 outlets, comprised of 31 outlets at PT Pos Indonesia, 4 outlets at bank Mandiri and 4 outlets at BSHB Bank.
2. Business Development Program
BSM initiatied several programs to increase pawn financing portfolio, namely through:
Micro Enterprise FInancing Description
(In Rp billion) 2012
2013
Nominal
Share (%)
Linkage Program
1.558
42,31
1.934
41,58
Warung Mikro
1.751
47,56
2.373
51,02
Micro KUR
213
5,78
215
4,62
KUR Linkage
160
4,35
129
2,77
3.682
100,00
4.651
100,00
Total
Annual Report 2013
142
Nominal
Share (%)
PT Bank Syariah Mandiri
4) Consumer Financing
a) Sahabat Emas Program as a program dedicated for individual who refers a customer to conduct pawning at BSM. b) Special Program. BSM gold pawn offers various program in 2013, namely: Kejutan Awal Program, Edu-Emas Program, BSM Ketupat Emas Merdeka & Rejeki Milad Program. The Programs provided benefit for the program participants namely by obtaining pawning fee ease, souvenir or other gifts.
3. BSM Gold Installment Product
To equip gold-based service, BSM launced BSM Gold Installment product in March 2013. This refers to a service of gold ownership financing under installment scheme. This as the action plan of Bank Indonesia Regulation No. 14/16/DPbS dated May 31, 2012 on Gold Ownership Financing Product for Sharia Bank & Sharia Business Unit.
One of BSM business which is developed and marketed to meet public demands is Consumer Financing. Consumer Finacning provided positive contribution for financing growth on overall BSM business. In 2013, decelerated national economy condition brought an impact on consumer financing growth. In 2013, BSM disbursed consumer financing with Rp1.52 trillion or 9.76% growth from Rp15.64 trillion as end of 2012 to Rp17.16 trillion as end of 2013. Consumer financing contribution to total BSM financing reached to 34.17% from 35.14% as end of 2012. Consumer financing growth throughout 2013 was contributed by B2C based financing product, namely: 1. 2. 3. 4.
As of December 2013, BSM Gold Installment portfolio reached outstanding of Rp68 billion.
Retirement Financing (139%) Mortgage Financing (68%) Medical Equipment Financing (53%) Vehcile Financing (3%)
Consumer Financing Portion Financing Type
(in Rp)
2012
2013
Outstanding
Portion
Outstanding
Portion
13.849.683.366
0,09%
21.180.729.823
0,12%
Implant
5.245.382.933.122
33,54%
5.627.888.854.622
32,79%
Vehicle
258.568.273.016
1,65%
265.967.216.739
1,55%
1.133.296.689.417
7,25%
350.695.705.976
2,04%
43.398.723.328
0,28%
103.573.182.508
0,60%
Housing
4.208.306.286.628
26,91%
7.072.144.383.703
41,20%
Cooperative
3.876.588.217.430
24,79%
2.978.083.449.057
17,35%
Medical Equipment
Other Consumer Retirement
Multifinance
860.060.085.229
5,50%
746.196.912.939
4,35%
Grand Total
15.639.450.891.536
100,00%
17.165.730.435.368
100,00%
PT Bank Syariah Mandiri
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Annual Report 2013
OPERATIONAL REVIEW (Per Business Segment)
Consumer financing (Non-Performing Financing) quality to total BSM financing grew from 0.72% in 2012 to 1.15% in 2013.
B2C consumer financing disbursement scheme applies Consumer Financing Business Center (CFBC) as distribution channel to end user.
Consumer financing contribution for each segment in 2013, as follows:
1. Mortage/House Financing House and apartment ownership/renovation financing facility. Mortgage contribution reached to Rp7.07 trillion or 41.20% from total consumer financing.
2. Retirement Financing Financing facility for pensioners with monthly retirement benefit. Retirement financing contribution reached to Rp103.57 billion or 0.60% from total consumer financing.
6. Financing fro Employees Coopeartive for the Members (PKPA) Financing facility disbursed by the bank to employees cooperative to meet consumer demand of the members (collectively) by proposing financing to employees cooperative. Coopeartive financing contribution to the members reached to Rp2.98 trillion or 17.35% from total consumer financing. 7. Multifinance Car and motorcycle ownership financing disbursed to end user under partnership with multifinance company. The multifinance contributed Rp746.19 billion or 4.35% from total consumer financing.
C. Treasury and International Banking
3. Vehicle/Auto Financing Car and motorcycle ownership financing facility. Vehicle financing contribution reached to Rp265.96 billion or 1.55% from total consumer financing.
The realization is supported by transaction servie at branch offices and highly competitive remittance fee. Rupiah currency convertion against several foreign currency rate was referring to spot market rpice on money market and prepared by dealing room. Bank Syariah Mandiri actively performed transaction in seven foreign currencies which were USD, EUR, JPY, SGD, AUD, SAR & HKD.
4. Medical Equipment Financing Financing facilty for medical profession sector to purchase any good/service which does not violate sharia principle. Medical equipment financing contribution reched to Rp21.18 billion or 0.12% from total consumer financing. 5. Implan Financing Consumer financing facility provided by the bank to the Government Institution or private company permanent employee. Implan financing contribution reached to Rp5.62 trillion or 32.79% from total consumer financing.
Annual Report 2013
Alhamdulliah, Bank Syariah Mandiri keeps recording positive growth on remittance transaction. Throughout 2013, Fee-Based Income (FBI) from remittance grew by 47% generated both from outgoing and ingoing transaction.
144
Remittance incoming significantly grew mainly on remittance from Malaysis athrough D.U.I.T. (fund for beloved Indonesia) transfer product. The product excellence is able to be carried in online real time manner. Othe benefit is service availability for the
PT Bank Syariah Mandiri
recipient who does not have any account in the bank. The recipient may withdraw the money on nearest Post Office by witnessing identity card and money remittance code which had been sent in advance through mobile phone.
Outgoing remittance was mostly supported by BSM Foreign Currency Transfer who contributed Rp5 billion FBI contribution. The transaction was still dominated by USD currency for domestic and international remittance address. Ahead, BSM will continue to expand in increasing outgoing transaction with 40% growth target.
BSM also serves remittance transaction through Western Union which provides convenience for cash to cash remittance customers with domestic/overseas destionation.
Challenge of export at BSM is to provide convenience to the customers due the absence of in transit interest type during the L/X sight negotiation process.
Commodity importing tax (PIB) revenue transaction at BSM provides a convenience for the customers from rapid reporting process to State Cash and Custom. In 2013, fee based income achieved Rp3.3 billion. Support form more than 200 correnspondence banks worldwide provided best service to BSM customers. The commitment of correspondence banks in providing trade line facility was mostly stable if compared with previous year after concerning BSM solid performance throughout 2013.
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145
L/C Usance Payable at Sight (UPAS) is a prime products to carry commodity importing transaction required by the customers. Several goods imported in 2013 including heavy equipment, forklift, carbonate steel, steel pipe, compressor, telecommunication device, chemical industry raw material, spare parts, generator and printer. The importer customers may enjoy this facility to meet commodity importing needs with relatively low cost that BSM provides L/C UPAS facility in cooperation with several banks aboard which have been widely acknowledged. The partnership is considerd mutually beneficiary that will bring positive impact for BSM customers
SAR bank note provision is available at BSM branch office. BSm as the second largest bank from 21 banks both conventional and sharia bank who handles hajj activity, also provides SAR note for hajj pilgrim candidate with certain demands. During the hajj pilgrimage season in 2013, BSM SAR service outlets were opened at various hajj embarkation nationwide. BSM provided SAR bank not from the smalles nominal of SAR 1 to SAR 100.
Annual Report 2013
OPERATIONAL REVIEW (Per Business Segment)
BSM Director, Hanawijaya at MOU document handing ceremony with PT Karina Buana on February 14, 2013. Strategic partnership is continuously developed between BSM and all of business entity as part of the effort to achieve target.
D.
Fee Based Income
2. Hajj Fee
As end of 2013, fee based income (pure FBI) realization grew to Rp922.80 billion, or by Rp39.65 billion or 4.50% from 2012 which arrived at Rp883.15 billion. The growth was supported by growing operational fee by Rp57.68 billion, pawn fee which grew by Rp33.70 billion, international banking fee which grew by Rp13.15 billion, syndicated and bonds fee which grew by Rp7.81 billion and remittance fee which grew by Rp1.88 billion.
Hajj fee realization reached to Rp376.93 billion in 2013, lower by Rp67.84 billion or negative 15.25% from hajj fee realization in 2012 which was Rp444.77 billion. Hajj fee component contribeud 40.85% to total FBI realization.
3. Operational Fee
Description on Fee Based income (Pure) is as follows:
1. Pawning Fee
Pawn component realized fee amounted to Rp192.85 billion in 2013, grew by Rp33.70 billion or 21.17% from fee realization in 2012 which was Rp159.15 billion. Pawning fee component contributed 20.90% from total FBI realization.
Annual Report 2013
4. International Banking Fee
146
Operational fee realization reached to Rp254.67 billion in 2013, grew by Rp57.68 billion or 29.28% from fee booked in 2012 which was Rp196.99 bllion. Operational fee component contributed 27.60% to total FBI realization.
International Banking Fee realization reached to Rp69.06 billion in 2013, grew by Rp13.15 billion or 23.52% from fee booked in 2012 which was Rp55.91 billion. International banking fee component contributed 7.48% from total FBI realization. The largest international banking fee contributor were generated from spot transaction currency mismatch fee (Rp28.57 biillion) and SKBDN (Rp15.33 billion).
PT Bank Syariah Mandiri
5. Micro Financing Fee
Micro financing fee realization reached to Rp0.29 billion in 2013, lower from micro financing fee booked in 2012 which reached to RP7.02 billion. Micro financing fee component contributed 0.03% to total FBI realization.
7. Remittance Fee Remittance fee realization reached to Rp4.19 billion in 2013, grew by Rp1.88 billion or 81.36% from fee booked in 2012 which was Rp2.31 billion. Remittance fee component contributed 0.45% to total FBI income realization.
6. Syndicated and Bonds Fee
Syndicated and bonds fee realization reached to Rp24.81 billion in 2013 or grew by Rp7.81 billion or 45.94% from fee booked in 2012 which was Rp17 billion. Syndicated and bonds fee component contributed 2.69% from total FBI realization.
Tabel Fee Basde Income 2012 – 2013 Period FBI
2012
2013
Growth Nominal
(in Rp billion) Contribution
%
%
Pawning
159,15
192,85
33,70
21,17
20,90
Hajj
444,77
376,93
-67,84
-15,25
40,85
Operational
196,99
254,67
57,68
29,28
27,60
55,91
69,06
13,15
23,52
7,48
International Banking Micro Financing Syndicaed and Bonds Remittance Total
PT Bank Syariah Mandiri
7,02
0,29
-6,73
-95,87
0,03
17,00
24,81
7,81
45,94
2,69
2,31
4,19
1,88
81,39
0,45
883,15
922,8
39,65
4,49
100,00
147
Annual Report 2013
FINANCIAL REVIEW Mangement Disucssion and Analysis on the Bank Performance
In 2013, BSM booked Comprehensive Income to Rp651 billion, slightly lower from 2012. The decrease was mainly contributed from decrease in assets quality and increasing cash provision.
Annual Report 2013
148
PT Bank Syariah Mandiri
East Java - Kuda Luping art performance
PT Bank Syariah Mandiri
149
Annual Report 2013
FINANCIAL REVIEW
B
1. Assets
SM booked decrease in Net Income by Rp154.45 billion or 19.17% from previously Rp805.69 billion in 2012 to Rp651.124 billion in 2013.
BSM recorded assets growth to Rp9.74 trillion or 17.95% from prior Rp54.23 trillion in 2012 to Rp63.97 trillion in 2013. Total Deposit collection grew by Rp9.05 trillion or 19.09% from previously Rp47.41 trillion in 2012 to Rp56.46 trillion in 2013. The financing disburseent grew by Rp5.71 trillion or 12.75% from Rp44.76 trillion in 2012 to Rp50.46 trillion in 2013.
During 2012 – 2013 period, total assets of BSM grew from Rp54.23 trillion in 2012 to Rp63.96 trillion in 2013 or averagely rose by 17.95%.
Following are general management discussion and analysis on BSM business trend in 2013 period. The discussion is presented by referring to Financial Statements for fiscal year 2013 as audited by Ernst & Young Public Accountant Office with Unqualified Opinion.
a. Fixed Assets
A. Financial Report Position Trend
Assets of BSM comprises of earning and non-earning assets. BSM earning assets are namely Financing and Bank Indonesia Syariah Certificate, FABSIS and SBSN Reverse Repo. While, Non-earning assets comprised of Foreclosed assets and suspense account.
Continuous growth and profit of the bank’s business constitue BSM preserved mission. The initiative which has been carried by BSM is by managing assets and liabilities profoundly, prudently and optimally. Carrying respective principle, BSM has adequated capacity to fulfill every liability timely, maintaining liquidity and generating adequate revenue in acceptable risk level.
Total fixed assets of BSM as of December 31, 2013 amounted to Rp788 billion, grew by Rp44 billion or 5.9% from end of 2012 which arrived at Rp744 billion. In 2013, increase in fixed investment was booked concurrently with BSM network expansion to cover economic centers nationwide.
Table of Financial Position Report
(in Rp billion)
Description
2009
2010
2011
2012
2013
Assets
22.037
32.482
48.672
54.229
63.965
Earning Assets Placement with SBIS, FASBIS and SBSN Reverse Repo Financing
21.299
30.744
44.918
50.640
58.947
2.381
3.412
4.850
3.125
5.918
16.063
23.968
36.727
44.755
50.460
3.273
5.010
7.041
9.169
11.029
Liabilities Temporary Syirkah Fund
16.963
25.251
37.858
40.380
47.574
Issued Securities
200
200
700
500
500
Third Party Fund
19.338
28.998
42.618
47.409
56.461
a. Current Accounts
2.591
4.015
4.669
6.434
7.525
b. Saving Accounts
7.163
9.873
14.424
19.148
22.101
c. Time Deposit
9.584
15.110
23.525
21.827
26.834
Equity
1.600
2.021
3.073
4.181
4.862
Annual Report 2013
150
PT Bank Syariah Mandiri
b. Earning Assets
d. Placement with Bank Indonesia
Growing total assets of BSM was contributed by earning assets as indicated from earning assets to total assets composition by 92.16%. Total earning assets value grew by Rp8.30 trillion or 16.40% from Rp50.64 trillion in 2012 to Rp58.94 trillion in 2013.
Pencapaian Kualitas Aset Produktif, Cash Penyisihan Penghapusan Pembiayaan, dan Cash Penyisihan Penghapusan Aset Produktif selama tahun 2013: 1) 2. 3. 4. 5)
NPF Gross from 2.82% to 4.32%. NPF Net from 1.14% to 2.29%. Available/Mandatory PPAP Ratio from 110.08% to 106.37%. Earning Assets Cash Provision from 101.19% to 70.07%. Financing Cash Provision from 100.06% to 70.07%.
Current Accoutnts with Bank Indonesia position as of December 31, 2013 reached to Rp3.24 trillion or grew by 44.64% from current accoutns position as end of 2012 which arrived at Rp2.24 trillion. Percentage of Rupiah Minimum Statutory Reserves (GWM) in 2013 booked at 5.22%, higher if compared with GWM position as end of 2012 which was 5.06%. Foreign currency GWM percentage in 2013 booked at 14.66%, higher if compared with position as end of 2012 which was 1.22%. Bank Indonesia Syariah Certificate (SBIS) position as of December 31, 2013 arrived at Rp100 billion from SBIS position as end of 2012 which was null (0). The increase was due BSM invested fund on high-yield earning assets.
Table of BSM Earning Assets Growth for 2009 – 2013 Period
(in Rp Billion)
Description
2009
2010
2011
2012
2013
Financing
16.063
23.968
36.727
44.755
50.460
Securities
2.024
2.183
2.190
1.896
1.517
SBIS, FASBIS and Reverse Repo SBSN
2.381
3.412
4.850
3.183
5.918
Placements with Other Banks
492
721
767
441
744
Off-Balance Sheets
339
460
384
365
308
21.299
30.744
44.918
50.640
58.947
Total Assets/Earning
c. Cash
Cash position as of December 31, 2013 reached to Rp1.44 trillion or grew by 30.42% from cash position as end of 2012 which was RP1.11 trillion..
Bank Indonesia Syariah Certificate (SBIS) and Bank Indonesia Syariah Deposit Facility position as of December 31, 2013 booked at Rp5.50 trillion or grew by Rp2.37 trillion from end of 2012 which was Rp3.13 trillion. The hike took plice on major fund deposited at BSm both from time deposit, current accounts or savings products
PT Bank Syariah Mandiri
151
Annual Report 2013
FINANCIAL REVIEW e. Current Accounts and Placements with Other Banks
Current Accounts with other banks position as of December 31, 2013 booked at Rp687 billion, grew by Rp416 billion or 153.51% from Current Accounts with other banks position in 2012 which arrived at Rp271 billion.
Placements with other banks was lower by Rp120 billion or -70.59% from Rp170 billion in 2012 to Rp50 billion in 2013.
Placement with other banks was also realized taking form as time deposit and interbank mudharabah investment certificate (SIMA).
financing portfolio portion. The realization becomes BSM Commitment to develop small and medium industry sector by continuously increases financing portion for Micro and SME Loan.
h. Written-off financing in 2013, BSM conducted financing write-off to Rp717 billion. The amount was higher from 2012 which was Rp171 billion. Writtenoff financing prior to 2012 and had been received in 2013 was amounting to Rp134 billion.
Total Written-off Financing for 2012 -2 013 Period (in Rp billion)
f. Investemnet with Securities Investement with securities position as of December 31, 2013 booked at Rp1.52 trillion, decreased by Rp379 billion or -19.99% from investment with securities in 2012 which was Rp1.46 trillion.
Description
2012
2013
Initial Balance
855
920
Write-Off
171
717
Re-gain
106
134
End Year Balance
920
1.503
i.
g. Financing Financing as of December 2013 reached to Rp50.46 trillion or grew by 12.75% or Rp5.71 trillion from position as of 2012 which arrived at Rp44.76 trillion. The financing growth was followed by growing Micro & SME loan
Financing Quality Classified Earning Assets to Earning Assets (APYD/AP) as of December 31, 2013 reached to 4.14% from previous ratio at 3.00% as end of 2012. Previous NPF gross ratio was 2.82% as end of 2012 to 4.32% in 2013. So that the NPF net ratio which previously booked at 1.14% as end of 2012 to 2.29% as end of 2013.
Table of Securities Based on Maturity 2013 Description Less Than 1 Year 1 – 5 Years More than 5 Years Total
Measured on Acquisiton Cost
(in Rp) Measured on Fair Value
Available for Sale
27.379.908.870
26.405.293.949
1.110.823.416.027
26.405.293.949
Annual Report 2013
53.785.202.819
3,55%
35.361.055.150
1.146.184.471.177
75,56%
317.000.171.503
20,90%
1.516.969.845.499
100,00%
35.361.055.150
152
Portion
-
317.000.171.503 1.455.203.496.400
Total
PT Bank Syariah Mandiri
BSM Director, Hanawijaya, handed giant card to one of Priority Customer at Customer Gathering event. The event was held as part of building relationship initiative with Priority Customer on September 6, 2013.
3. Deposit Source and Composition
BSM remains maintaining financing quality by overseeing debtors business growth in sustainable manner. Moreover, BSM will continuously carry improvement and settlement program on non-performing debtors issue.
2. Liability
Total liability increased in 2013 by Rp1.86 trillion or 20.29% from Rp9.17 trillion in 2012 to Rp11.03 trillion in 2013. The growth was due to increase in Wadiah saving and other liabilities. Wadiah saving grew by Rp7.33 trillion or 24.32% from Rp7.33 trillion in 2012 to Rp9.11 trillion in 2013. Thus, Other liabilities grew by Rp129.21 billion or 43.58% from Rp296.47 billion in 2012 to Rp425.61 billion in 2013. Other liabilities growth was due to increase in allowance for employees post-employment benefit and employees long-term benefit by Rp56 billion and SKBDN with correspondence bank by Rp16 billion. Wadiah saving booked an increase was concurrently with increasing branch office and fund deposit from customer get customer program. The growth complied with the Bank’s strategy to raise low cost fund proportion mainly on saving accounts product.
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153
BSM succeeded in collecting public fund to Rp56.46 trillion in 2013 or grew by Rp9.05 trillion or 19.09% from Rp47.41 trillion in 2012. Deposit from public as current accounts, savings and time deposit were under wadiah and mudharabah agreements. Current accounts grew by Rp1.09 trillion or 16.96% from Rp5.43 trillion in 2012 to Rp7.52 trillion in 2013. The saving account grew by Rp2.95 trillion or 15.42% from Rp19.14 trillion in 2012 to Rp22.10 trillion in 2013. Time deposit grew by Rp5.00 trillion or 22.94% from Rp21.82 trillion in 2012 to Rp26.83 trillion in 2013. Predominant Deposit growth was followed by increasing accounts to 1,630,574 accounts or grew by 39.24% from 4,155,632 accounts in 2012 to 5,786,206 accounts as end of 2013.
.
4. Savings with other banks
Savings with other banks as of December 31, 2013 reached to Rp28.20 billion, Rp9.78 billion or 25.75% lower from saving with other banks position as end of 2012 which arrived at Rp37.98 billion
Annual Report 2013
FINANCIAL REVIEW 5. Subordinated Notes Issued
BSM Subordinated Notes Issued to strengthen capital mainly Tier II. Total subordinated bonds as of December 31, 2013 was Rp500 billion, remained stable with Subordinated securities issued in 2012. The bonds was issued in 2007 and held 5 years maturity period.
6. Equity
B. Comprehensive Income Statement In 2013, BSm booked comprehensive income to Rp651 billion, decreased by Rp156 billion or 19.33% to comprehensive income booked in 2012 which arrived at Rp807 billion. Decrease in comprehensive income was due to decreasing assets quality in 2013 which brought BSm to charge high PPAP fee.
1. Income from Fund Management
Equity realization as of December 31, 2013 reached to Rp4.86 trillion, grew by Rp681 billion or 16.29% from equity position as end of 2012 which arrived at Rp4.18 trillion. The growth was mainly contributed from income and additional paid-in capital realized in 2013.
7. Paid-in Capital
Income from fund management realization from Income from fund management by Bank as Mudharib booked at Rp5.44 trillion, grew by 16.07% or Rp753 billion to total Income from fund management by Bank as Mudharib booked in 2012 which was Rp4.69 trillion. a. Income From Fund Management By Bank As Mudharib – Net Throughout 2013, BSm booked Income from fund management by Bank as Mudharib – net amounted to Rp3.36 trillion or grew by 21.15% or Rp586 billion from realization of Income from fund management by Bank as Mudharib – net in 2012 which arrived at Rp2.77 trillion.
Issued and fully-paid in capital reached to Rp1,489,021,935,000 for shares amounting to 297,804,387 shares as of December 31, 2013 and 291,648,713 as of December 31, 2012. Thus, Authorized capital was reaching to 500,000,000 shares as of December 31, 2013 and 2012 with total shares capital par value of Rp5,000 per shares.
Table of Comprehensive Income Statements
(in Rp billion)
Description Income from Fund Management by Bank as Mudharib Third Parties’ Share on Return of Temporary Syirkah Funds
2009
2010
2011
2012
2013
2.071
2.768
3.771
4.685
5.438
902
1.162
1.781
1.914
2.081
1.169
1.606
1.990
2.771
3.357
Fee Based Income
347
567
1.082
1.139
1.193
Operating Income
426
580
761
1.119
898
Income before income tax benefit (expense)
418
569
748
1.097
884
Net Income
291
419
551
806
651
Comprehensive Income
-
-
553
807
651
Basic Earnings per Share
2.210
3.179
3.376
3.382
2.232
Income from Fund Management by Bank as Mudharib - Net
Annual Report 2013
154
PT Bank Syariah Mandiri
3. Allowance for Assets Write-Off Expense
Increase in Income from fund management by Bank as Mudharib in 2013 was due BSM conducted major financing expansion by 12.75% with NPF gross controlled at 4.32% and NPF net at 2.29%.
b. Third Parties’ Share On Return of Temporary Syirkah Fund Concurrently with increase in Income from fund management by Bank as Mudharib, the bank’s liability to fulfill Third parties’ share on return of temporary syirkah fund also grew from Rp1.919 trillion in 2012 to Rp2.1 trillion in 2013 or rose by Rp167 billion or 8.75%. c. Other Operating Income Realization of Other operating income (feebased income) as end of 2013 reached to Rp1.19 trillion, grew by 80% or Rp54 billion from realization of Other opeating income in 2012 which arrived at Rp1.14 billion. The increase was contributed from hajj and umra bailout fund which as of December 2013 contributed Rp375.4 billion and fee-based pawn reached to Rp192.9 billion or booked 176.42% realization.
2. Operating Expenses
realization of operating expense grew from Rp4.70 trillion in 2012 to Rp5.73 trillion as end of 2013 or grew by 22%. Increase in operating expense was due BSM executed business infrastructure development in 2013. Moreover, in 2013, BSM also launched 89 outlets with additional employees to 946 employees (including outsourced) that total employees as of December 31, 2012 reached to 16,945 employees.
PT Bank Syariah Mandiri
155
In 2013, BSM posted Allowance for Assets WriteOff Expense (PPA) to Rp871 billion or higher from PPA expense booked in 2012 which was booked at Rp376 billion. Significant increase in allowance reflected BSM prudent orientation to anticipate non-performing financing loss. By carrying the allowance, Financing Cash Provision ratio reached to 70.07% in 2013.
4. Operating Income
In 2013, operating income realization reached to Rp898 billion, decreased by Rp221 billion or -19.74% from operating income realization in2 012 which was booked at Rp1.119 trillion.
5. Net Income
Current period Net income realization in 2013 reached to Rp651 billion, decreased by Rp154 billion or 19.17% from Current period Net income realization in 2012 which was Rp806 billion. The decrease was mainly due to decreasing assets quality and cash provision management.
C. Cash Flows Report Cash and cash equivalent grew by Rp4.29 trillion from Rp6.95 trillion in 2012 to Rp11.24 trillion in 2013. This was mainly affected by increase in cash flows from operating and investing activities.
Annual Report 2013
FINANCIAL REVIEW 1. Cash Flows from Operating Activities
Net cash flows from operating activities raeched to Rp4.09 trillion in 2013 or grew by Rp5.78 trillion from 2012 amounted to –Rp1.69 trillion. This was affected by Temporary syirkah fund and operating assets growth.
Table of Cash Flows Report for 2012 – 2013 Period Description
2009
Cash Flows from Oeprating Activities Cash Flows from Investing Activities Cash Flows from Finacning Activities
in Rp billion 2010
2011
2012
2013
2.212,51
2.220,37
1.091,43
(1.693,70)
4.086,07
(805,09)
(330,31)
(237,59)
(79,22)
203,35
100,00
-
1.750,00
(50,00)
-
Increase (decrease) in cash & cash equivalents
1.507,42
1.890,06
2.603,84
(1.822,91)
4.289,42
Cash and cash equivalents at the beginning of the year
2.771,55
4.278,97
6.169,03
8.772,86
6.949,95
Cash and cash equivalents at the end of the year
4.278,97
6.169,03
8.772,86
6.949,95
11.239,37
Table of Cash Flows from Operating Activities in 2012 – 2013 Period
in Rp Million
Description
2012
Receipts from profit sharing, sales and purchase and rent
2013
Growth Nominal
(%)
4.555.558.49
5.424.025.50
868.467
19,06
(1.970.851.17)
(2.023.983.90)
(53.133)
-2,70
1.138.747.54
1.188.093.53
49.346
4,33
31.914.37
134.444.86
102.530
321,27
(998.792.50) (24.798.16) (1.305.989.16)
(1.055.264.47) (32.042.00) (1.405.363.21)
(56.472) (7.244) (99.374)
-5,65 -29,21 -7,61
Payments of tax
(278.465.83)
(342.792.85)
(64.327)
-23,10
Payment of zakat
(36.595.65)
(24.263.18)
12.332
33,70
(1.561.23) 2.371.01 (7.684.604.03) 2.356.844.10 2.522.526.41 (1.693.695.81)
(614.92) 11.872.96 (6.757.274.07) 1.775.630.32 7.193.602.60 4.086.071.17
946 9.502 927.330 (581.214) 4.671.076
60,61 400,76 12,07 -24,66 185,17
5.779.767
341,25
Payments of profit sharing on temporary syirkah funds Receipts from other operating income Receipts from recovery of financing and receivable written – off Payments of personnel expenses Payments of tantiem Payments for operating expenses excluding personnel cost
Distribution of qardhul hasan funds Receipts of non-operating assets Increase/ Decrease of operating assets Increase/Decrease in operating liabilities Increase in temporary syirkah funds Net cash provided by/(used in operating activities)
Annual Report 2013
156
PT Bank Syariah Mandiri
2. Cash Flows from Investing Activities
Net Cash Flows for investing activities reached to Rp203.36 billion in 2013 or grew by Rp282.58 billion or -356.70% from 2012 which was – Rp79.22 billion. This was aminly due to income from marketable securities available for sale and measured on acquisition cost thus there was fixed assets purchase with lower nominal value. (in Rp billion)
Table of Cash Flows from Investing Activities for 2012 – 2013 Period Description
2012
Proceed from available for sale and measurement at cost marketable securities
289,02
601,87
-
(200,00)
(372,42)
(200.13)
4,18
1,62
(79,22)
203,35
Purchase of available for sale and held to maturity marketable securities Acquisition of fixed assets
2013
Proceeds from sale of fixed assets Net Cash provided by/(used in) investing activities
3. Cash Flows from Financing Activities
Net cash flows from financing activities was Rp0 billion in 2013, decreasing if compared with net cash flows from financing activity booked in 2012 which was Rp50 billion. Financing activities were including financing payment and Subordinated Notes Issued payment.
Table of cash flows from financing activities for 2012 – 2013 period
(in Rp million)
Uraian
2012
2013
Additional Paid-in Capital
-
300.000,00
Payment from Financing Received
-
(150.000,00)
Payment from Subordinated notes
-
(200.000,00)
Net cash provided by/(used in) financing activities
-
(50.000,00)
PT Bank Syariah Mandiri
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Annual Report 2013
FINANCIAL REVIEW 5. Financing to Deposit Ratio (FDR)
D. Key Financial Ratio
1. Capital Adequacy Ratio
Capital Adequacy Ratio (CAR) was booked at 14.10% level in 2013, higher if compared with CAR booked in 2012 which was 13.82%. In same year, Syariah Banking Capital Adequacy Ratio (CAR) reahed to 14.42%.
2. Return on Equity (ROE) and Return on Assets (ROA)
Return on Equity (ROE) of BSM booked declining trend by 15.34%, lower from BSM ROE position booked in 2012 which was 25.05%. The position was slightly lower from average Syariah Banking ROE position which was 17.24%. BSM ROA realization was decreased from 2.25% in 2012 o 1.53% in 2013. BSM ROA was lower from Syariah Banking average ROA which reached to 2.00%.
BSM Financing to Deposit Ratio (FDR) booked a decrease from 94.40% in 2012 to 89.37% in 2013, lower from Syariah Banking average FDR which was 100.32%.
6. Non Performing Financing (NPF Gross)
Non Performing Financing NPF) gross ratio improved from 2.82% in 2012 to 4.32% in 2013. The management seeked to improve BSM financing quality by carrying financing monitoring quality. BSM NPF was lower from Syariah Banking NPF which was 2.62%.
7. Key Financial Ratio Summary Tabel Key Financial Ratio Summary
3. Net Revenue Margin (NRM)
Keterangan
ROA
2,25%
1,53%
ROE
25,05%
15,34%
BO/PO
73,00%
84,03%
FDR
94,40%
89,37%
CAR
As end of 2013, Net Revenue Margin ratio was controlled at 7.25% or remained stable from 2012
2012
2013
13,82%
14,10%
4. Operating Expense to Operating Income (BOPO) Ratio
NPF-NET
1,14%
2,29%
NPF-GROSS
2,82%
4,32%
NRM
7,25%
7,25%
Current Ratio
155,26%
178,65%
DER
219,31%
226,85%
DAR
16,91%
17,24%
From efficiency side, Operating Expense to Operating Income (BOPO) Ratio grew from 73.00% to 84.03% level in 2013. The ratio was slightl higher if compared with Syariah Banking average BOPO ratio which reached to 78.21%.
Annual Report 2013
158
PT Bank Syariah Mandiri
The Management assumed that total allowance for possible loss was adequate to cover loss potential due to collection failure of current accoutns and placement with Bank Indonesia, current accoutns with other banks, placement with other banks, investment in securities, receivables, qardh financing, mudharabah financing and musyarakah financing which had been complied with Bank Indonesia regulation.
E. Allowance for Earning Asets Write-Off (PPAP) and Collectability Ratio
1. PPAP Compliance Ratio
Finance PPAP to NPF (Cash Provision Ratio) decreased from 100.06% in 2012 to 70.07% in 2013. The condition constituted that the bank continuously improves Cash provision ratio to anticipate nonperforming financing customers and decreasing collectability.
BSM succeeded in achieving receivables collectability ratio on Pass category in 2013 at 92.78%, improving from 2012 which was 94.53%.
2. Bank Collectability Ratio
Based on management review and evaluation ratio, current accounts collectability and placements with Bank Indonesia, Current Accounts with other banks, placements with other banks, investment with securities, receivables, qardh financing, mudharabah financing and musyarakah financing as December 31, 2013 and 2012 were classified Pass.
F. Capital Structure and Management
1. Liabilities Structure
To cover loss potential due to financing and earning assets collection failure, BSM seeks to conduct assets ages and calculation of allowance for possible loss and financing collection failure. Additional allowance was recognized as share on operational expense in current period.
In 2013, BSM liabilities structure was 74.38% financed from temporary syirkah fund, 17.24% from liabilities and 7.60% from equities and 0.78% from Subordinated Notes Issued. Concurrently with syariah banking industry brighter trend on national banking circumstances, BSM is always committed to develop competitive syariah banking products to meet public expectation.
Table of Liabilities Structure Description Liabilities Subordinated notes Temporary Syirkah Fund Equity Total
PT Bank Syariah Mandiri
(in Rp billion) 2012
2013
Nominal
Prosentase
Nominal
Prosentase
9.168
16,91%
11.029
17,24%
500
0,92%
500
0,78%
40.380
74,46%
47.574
74,38%
4.181
7,71%
4.862
7,60%
54.229
100,00%
63.965
100,00%
159
Annual Report 2013
FINANCIAL REVIEW On the other hand, BSM also participated on public fund collection and disbursement. Public fund and deposit collection for syariah banking business process were recognized as liability and BSm will later disburse the fund to society throughout various financing as BSM assets.
2. Capital Structure Management Policy
Based on the Bank’s strategy and policy in reducing assets and financing source and period mismatch, BSM applies a policy that most of the assets are financed as temporary syirkah fund recognized by the Bank.
Capital management policy of the Bank aims to ensure that the Bank has efficient capital structure, having strong capital to support the Bank business development strategy and to maintain the Bank’s business continuity in years to come, and to comply with capital adequacy provision set by the regulator. Capital planning is prepared by the Board of Directors as part of Bank Business Plan and approved by the Board of Comissioners. The Bank capital planningis prepared based on assessment of required capital requirement, business development plan and the Bank liquidity needs.
.
Bank capital adequacy ratio as of December 31, 2013 and 2013 are as follows:
Table of Capital Adequacy Ratio as of December 2012 and 2013 Description I.
(in Rp million)
2012
2013
3.655.579
4.391.216
1.458.244
1.489.022
231.649
291.649
1.562.841
2.284.925
Net Income (50%)
402.845
325.620
B. Supplementary Capital
Capital Structure A. Core Capital Paid In Capital General Reserves Retained Earnings at the beginning before
911.731
953.685
Reserves from Allowance from earning assets write-off (maximum 1.25% from RWA)
411.731
453.685
Subordianted Investmetn (maximum 50% from total core capital)
500.000
500.000
-
-
4.567.310
5.344.901
C. Additional Supplementary Capital II.
Total core capital, supplementary and additional supplementary capital)
III.
Credit Risk Weighing Assets
32.916.532
37.841.216
IV.
Market Risk Weighing Assets
122.534
63.725
V.
Total Risk – Weighing Assets
33.039.066
37.904.941
VI.
Capital Adequacy Ratio – Credit Risk
13,88%
14,12%
VII.
Capital Adequacy Ratio – Credit and Market Risk
13,82%
14,10%
VIII.
Minimum Capital Adequacy Ratio
8%
8%
Annual Report 2013
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PT Bank Syariah Mandiri
G. Bank Soundness Level and Solvability
from public fund, which is by contractual usually in short-term period, allocated to finance assets as non-liquid financing. Bank Syariah Mandiri FDR as of December 31, 2013 was booked to 89.37%, decreased by 5.03% compared with 2012 which was booked at 94.40%. The decrease was namely due to increase in Bank Syariah Mandiri deposit which was higher from financing growth throughout 2013. Moreover, Bank Indonesia also amended GWM LDR regulation in December 2013 which was previously at 78% - 100% level to 78% - 92% level. With aforementioned FDR Value booked by Bank Syariah Mandiri, the ratio was still higher from limitation recommended by Bank Indonesia.
BSM carried Bank Soundness Level Self-Assessment for position as of December 31, 2013 with detail as follows: 1. Financial factor consists of Capital, Assets Quality, Rentability, Liquidity and Sensitivity on Market Risk with Ratign 2 means that the Bank financial condition was considered Good in supporting business development and anticipating economy condition and financial industry shifting. 2. Management Factor consists of General Management, Risk Management and Compliance Management with A Rating, means that the Bank’s management has excellent track record, independent and adaptive against external condition shifting, and has firm risk management system as well as able to overcome occurring issues both presently and in years to come.
Based on aforementioned Financial and Management factors assessment, the Bank achieved composite score 2A or composite rating 2, means that the Bank was considered good and able to overcome negative impact from economy and financial industries. 1. Capital Adequacy Ratio Pursuant to BI Regulation, Minimum Capital Adequacy Ratio implemented by BI is 8%. BSM Capital Adequacy Ratio in 2013 based on Capital Adequacy Ratio was at 14.10%, the ratio was higher from previous year ratio which was 13.82%. BSM Capital structure has a capability to balance market and credit risk where the ratio was exceeding BI minimum adequacy ratio and BSM capital structure has complied with BI Regulation. 2. Liquidity The Bank’s liquidity is affected by financing structure, assets liquidity, liability with counterparty and loan commitment to debtors. FDR is financing ratio disbursed to third party against deposit in Rupiah and foreign currency. FDR is used to assess amount of fund source
PT Bank Syariah Mandiri
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3. Rentabilitas Consolidated rentability of the bank is measured on following ratio: No
Description
2012
2013
% Changes
1
Return on Asset
2,25%
1,53%
-0,72%
2
Return on Equity
68,09%
44,58%
-23,51%
3
Net Interest Margin
7,25%
7,25%
0,00%
4 BOPO 73,00% 84,03% 11,03% In 2013, Bank Syariah Mandiri booked stable Net Interest Margin (NIM) ratio at 7.25%. This indicated the Bank’s profitability ratio which is controlled in every year. Meanwhile, Bank Syariah Mandiri ROA booked a decrease in 2013 which was booked at 1.53% or decreased by 0.72% from 2012. This was due to rapid increase in Bank Syariah Mandiri Total Assets exceeding income before income tax growth. Bank Syariah Mandiri ROE also booked a decrease in 2013. As of December 31, 2013, Bank Syariah Mandiri ROE booked at 44.58% or decreased by 23.51% from 2012 which was 68.09%. this was due to decreasing income before income tax booked by Bank Syariah Mandiri in 2013. 4. Solvability Bank Syariah Mandiri solvability is measured through the bank’s capital ratio. Bank Syariah Mandiri ensures the
Annual Report 2013
FINANCIAL REVIEW 2. Fund Source The fund allocated was from Bank Syariah Mandiri internal budget.
Bank’s capital adequacy to fulfill financing risk and market risk as reflected from Capital Adequacy Ratio (CAR). Capital Adequacy Ratio is capital to Risk-Weighted Assets (RWA) ratio. CAR ratio for financing risk and market risk of Bank Syariah Mandiri as of December 31, 2013 booked at 14.10% or grew by 0.22% from 2012 which was booked at 13.88%. The increase was namely due to increase in paidin capital and general and appropriate growth of Bank Syariah Mandiri in 2013. Bank Syariah Mandiri Quick Ratio increased in 2013. The Quick Ratio was booked at 32.08% or increased by 3.30% from 2012 which was booked at 28.78%. This indicated that Bank Syariah Mandiri’s ability in fulfilling its current liabilities was higher in 2013.
H. Material Commitment for Capital Goods Investment 1. Objective of the commitment Throughout 2013, there was material commitment for capital goods investment as banking and information technology service network expansion. Banking service network expansion included: Addition of 1 branch office in Pluit, North Jakarta, 84 supporting branch offices (KCP), 4 cash offices, 174 ATM network construction; 41 Unit ATM relocation; Payment point construction in 61 offices in 27 cities; addition of 87 outlets non-permanent Bank Counter in 80 cities; 15 units mobile cash procurement and 30 branch offices relocation. Meanwhile, for information technology development was including: head office and branch office data communication infrastructure, Bank Indonesia server and storage, bandwidth upgrade; self-service and branchless banking; and core banking system. On September 9, 2009, the Bank held IT Core Banking System service procurement with PT Anabatic Technologies for 12 (twelve) years period with total contract value to US$4,488,000. As of December 31, 2013, the Bank conducted payment to US$2,137,014 based on the agreement.
Annual Report 2013
3. Currency Denomination Bank Syariah Mandiri capital goods investment is in Rupiah and US Dollar currency. 4. Foreign Currency Risk Mitigation To anticipate exchange rate risk, the Bank profoundly and conducts real time exchange rate shifting monitoring that the foreign currency portfolio is at most conducive condition for the Bank.
I. Subsequent material information and fact
There is no subsequent material information or fact with significant impact on the Company’s performance and business risk in the future.
J. Description on Capital Goods Investment As end of 2013, Total assets net after amortization and depreciation booked by Bank Syariah Mandiri reached to Rp787.871 million or incresed by 5.95% if compared with 2012 which was Rp743.598 million. The growth was mainly due to increase in Land Rights which in 2013 grew by 32.64% from previously Rp99.928 million in 2012 to Rp132.541 million in 2013 which followed by increase in office inventory which by nominal increased by Rp12,087 million or 2.95% from Rp460,387 million in 2012 to Rp472.373 million in 2013. Comprehensively, Bank Syariah Mandiri total assets growth is illustrated on following table:
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PT Bank Syariah Mandiri
Table of Capital Goods Investment
in million Rupiah
No
Description
2012
2013
Growth Nominal
1
Land Rights
99.928
132.541
32.613
32,64%
2
Building
29.191
29.849
658
2,25%
3
Installation
68.502
62.491
(6.011)
-8,77%
4
Motor Vehicles
85.590
90.516
4.926
5,76%
5
Office Equipments
460.387
472.474
12.087
2,63%
6
Total
743.598
787.871
44.273
5,95%
K. Extraordinary Financial Information
N. Impact of Pricing Policy in Recent 2 Years
As end of December 2013, there was no financial information containing extraordinarye event unless disclosed on Public Accountant Office report as attached.
L. Substantive Component of Other Income and Expenses
Throughout 2012 – 2013 period, there was no substantive component on other Income and Expenses which encouraged significant fluctuation both increase and decrease besides disclosed on the Public Accountant Office report as attached.
There was no subsequent material fact and information which affected BSM, besides disclosed on Public Accountant Office Report as attached.
P. Profit Sharing Calculation Method
Throughout 2013, highest growth was nominally acquired from Income form fund management by Bank as Mudharib from trading income amounted to Rp697.88 billion or 22.65% from total Operating Income booked in 2012, while, non-core business as Other Operating Income grew by Rp54.67 billion or 4.80% from total Other Operating Income booked in 2012.
PT Bank Syariah Mandiri
Throughout 2012 – 2013, there was no significant impact of pricing policy on BSM operating revenue or net income as well as operating income in 2 recent years beside disclosed on Public Accountant Office Report as attached.
O. Subsequent Information
M. Operating Income Growth Materiality
% Changes
163
The Bank annually distributed gain to fund owners. Profit sharing calculation model is as disclosed on folloign profit sharing distribution table:
Annual Report 2013
FINANCIAL REVIEW Table of Profit Sharing Realization as of December 2013 Period
Total Deposit
1. Wadiah Deposit
average balance
Profit Sharing Income
A
B
Fund Owner Portion Nisbah
Total Bonus and Profit Sharing
Rate of Return Indication
C
D
E
8.446.585.880
71.219.301
33.349.745
281.196
8.413.236.135
70.938.105
19.552.979.742
164.865.375
143.915.065
1.213.453
33,43%
19.409.064.677
163.651.922
28,70%
27.752.708.773
234.003.246
93.147.211
785.392
- 1 month
74.126.750
625.016
45,00%
- 3 month
10.140.211
85.500
46,00%
- 6 month
1.122.441
9.464
47,00%
- 12 month
7.757.809
65.412
48,01%
b. Non Bank
27.659.561.562
233.217.854
- 1 month
18.006.762.248
151.828.092
45,50%
- 3 month
4.087.789.147
34.467.120
46,79%
- 6 month
2.299.543.054
19.389.117
44,17%
- 12 month
3.265.467.113
27.533.525
49,39%
55.752.274.395
470.087.922
a. Bank b. Non Bank 2. Mudharabah Saving a. Bank b. Non Bank 3. Mudharbah Time Deposit a. Bank
TOTAL
Indonesian macro and micro economy trends, as follows: 1. In 2003, Idonesian economic growth was decelerated from2 012 due to decreasing real export as the impact of global economic stagnancy. 2. Domestic economy growth supported with household and investment consumption. 3. Relatively high domestic economy growth was due to food price fluctuation and rising subsidized-oil fuel price. 4. Firm and stable banking sector. 5. Improving intermediary function.
Annual Report 2013
5.713.606 22.495 5.691.111 47.377.212 405.648 46.971.564 107.728.909 356.438 281.257 39.330 4.448 31.403 107.372.471 69.083.500 16.127.769 8.563.549 13.597.653 160.819.727
0,81% 0,81% 3,38% 2,90% 4,55% 4,65% 4,76% 4,86% 4,60% 4,73% 4,47% 5,00%
6. Decreasing credit risk, reflecting from improving NPL ratio. 7. Syariah banking growth namely indicated by expanding assets market share, Deposit & financing as well as expanding syariah bank outlet network.
Q. Business Prospect
(in Rp thousand)
164
BI forecasted economic growth will reach 5.8% - 6.2% in 2014. This will affete global economy more positive prospect which was estimated will boost export. In 2014, economy growth performance will be supported by main economy sector such as manufacturing, trading – hotel – restaurant as well as transportation and communication which are expected to be improved concurrent with global
PT Bank Syariah Mandiri
growth in line with economy 2014 forecast with export-oriented, manufacturing, trading – hotel – restaurant, service and agriculture sectors bring an opportunity to accelerate banking growth.
economy recovery and domestic economy rejuvenation. Conducive national economic condition is expected to provide positive impact on national banking industry growth. Bank Indonesia forecasted national banking industry in 2013 whereas assets, deposit and lending will be higher from 2012.
4. More Structurized Market Development Program Better syariah banking industry socialization program will encourage public income level on syariah banking service to be higher with expanding demography scale. iB Socialization & GRES! Launching nationwide which had affected sectoral synergy & syariah financial transaction Moreover, Bank Indonesia will prioritize support for products development related with productive sector and will meet wider society needs. In expadning network, Syariah Bank builds interconnection by stronger Holding Bank/Group.
Positive trend optimism which was projected on aforementioned national economy and national banking industry, according to Bank Indonesia forecast, will also affect syariah banking industry. Syariah banking industry is expected to maintain high growth in 2014. Bank Indonesia also forecasted syariah banking assets will reach Rp255.21 trillion (pessimistic) – Rp311.92 trillion (optimistic) in 2014. Syariah banking growth optimist projection is expected to be encouraged by several factors, including:
5. HR Quality Improvement Human Resoruces (HR) demands fulfillment with adequate quality and quantity will significantly affect on syariah banking assets growth in 2014
1. Huge Market Potential Indonesian potential amid Asian optimism as main global economy engine and Indonesian demography potential which had provided enormous opportunity on Indonesian economy consistent growth. Expected development trend to provide higher multiplier – effect for Indonesian economic growth was by also supporting national economy growth. Financing assistance on productive sector will not only expand syariah banking market share but also will support self-sufficient national economy. 2. New Player Entrance Entrance of new players will bring higer competition level on banking industry. Respective condition wil trigger the old players to preserve their market shares within more intensified effort. Afterwards, syariah banking players consolidation to strengthen syariah banking industry and several syariah commercial banking to conduct Initial Public Offering (IPO).
To win the competition and address opportunity optimally in 2014, BSM has increased its business capability by expanding business network, recruiting new employees, adding capital and upgrading IT infrastructure by comoleting Core Banking System transformation as well as replacing product facility and feature. Within the capacity building, BSM seeks to maintain or even increase market share on syariah banking industry.
R. Marketing Aspect
3. More Conducive Macro Condition Macro economy condition will be more conducive in 2014 which was forecasted will become syariah banking industry growth. Recovered real sector
PT Bank Syariah Mandiri
6. Stronger Authority Support The Government accepted syariah finance and banking development as integrated part of the Government’s program. Ministry of SOE advance plan is to establish shria SOE Bank and Ministry of Religion to realize transfer major part of hajj fund to syariah bank.
165
To affirm the Bank’s contribution in Indonesian banking industry, BSM applies network expansion strategy as well
Annual Report 2013
FINANCIAL REVIEW as product and corporate marketing to introduce various banking products to wider society. The execution of respective strategy is expected to broaden BSM market by increasing customers number. On service aspect, BSM seeks to improve best service quality for the customers, supported by increasing technology capability and syariah banking product innovation development.
office network 853
900 764
800 669
700 600
507
500 400
390
300
1. Network Expansion Strategy
In supporting BSM product marketing achievement to optimize customers service, BSM considers the urgency of office and ATM network expansion (BSM, Bank Mandiri, ATM Bersama, ATM Prima, MEPS) to better serve the customers.
200 100 0 2009
BSM Card is available to be used in more than 144,865 ATM networks, including:
ATM Syariah Mandiri, 909 units ATM Mandiri, 11.454 units ATM BERSAMA, 53.722 units ATM Prima, 66.770 units and Malaysia Electronic Payment System (MEPS), 12.010 units. 144.865
109.686
65.118 47.000 34.924
2010
2011
2012
2012
2013
National Newspaper (Seputar Indonesia, Kompas, Harian Kontan dll). • Local Newespaper (Waspada, Pikiran Rakyat, Sumatera Express, Kaltim Pos, Kedaulatan Rakyat, Jawa Pos, Fajar etc). • Chinese Radio (Radio Cakrawala). Magazines (TEMPO Magazine, Sindo Magazine, Kicau Bintaro, Suara Muhammadiyah). • National Radio (Gen FM, Ardan FM, Trijaya FM, dll). • Local Radio (Kis FM, Oz Lampung, dll). • Internet Advertising (on Website Okezone.com, Republika Online). • SMS blast (Promotional message sent to customers mobile phone number). • Email blast (Promotional message sent to customers email address). • Twitter dan Facebook mass media. Brand Acquiring is carried through following program: •
ATM network
2011
BSM conducts Brand Building and Brand Acquiring product communication activities in major citiies of Indonesia. Brand Building is carried throughout several promotion channles, as follows:
2009
3. Product Communication Strategy
2. ATM Network
150.000 140.000 130.000 120.000 110.000 100.000 90.000 80.000 70.000 60.000 50.000 40.000 30.000 20.000 10.000 -
2010
• • • • •
2013
Thus, as end of 2013, BSM office network reached to 853 outlets spread all over Indonesia.
1. BSM Direct Gift Direct gift for the customers on new account registration (BSM Saving).
Annual Report 2013
166
PT Bank Syariah Mandiri
appreciation on fresh fund (top up) time deposit placement. 10. BSM Executive Lounge Saving (Exlo Saving) Executive Lounge voucher gift which can be redeemed in 41 executive lounges nationwide by topping up fund at BSM Saving account. 11. BSM Priority Gathering Program Activity expense reimbursement to several branch offices who held several activiites by involving customers such as sharing or testimonial from BSM Priority customers and synergized with direct sales program (hard selling) of investment, insurance, financing products as well as BSM Priority program.
Sharia banking industry growth which more preferred among the society drives various business potential for BSM. To cater the business opportunity, BSM performs sharia banking product development and innovation.
2. BSM Fantasi Direct gift to customers who deposited fund (fresh fund). 3. BSM Giro Prima Fee Assistance and Priority Lounge facility to the customers with certain average balance requirement. 4. BSM Sahabat Incentive provision for an individual/institution which has referred customer to BSM. The incentive is based on total fund deposited. 5. BSM Mitra Kerja Incentive for an individual/institution which has referred customer to BSM. The incentive is based on total registered accounts. 6. Pemda Fund Management BSM partnership with local government on fund management namely Pemda budget allocation, Pemda revenue and Local cash outstanding. The offer will be proided as CSR and Sponsorship for fund placement on autosave current accounts. 7. BSM You And Friends Gift for BSM Priority Customers which contributed reference or new customers. BSM Priority as referral result with minimum fund placement of Rp250 million. 8. BSM Deposit & Special Gift Gift as Umra pilgrimage, Tour Package (Domestic/ Overseas Tour Package), Gold Bar, Shopping Voucher/Direct Gift by depositing fund on Time Deposit account. 9. BSM Care & Share Program Social fund disbursement as charity, as BSM
PT Bank Syariah Mandiri
167
4. Product Development Strategy in 2103
Syariah banking industry more preferred trend among the society brought several new business opportunities for BSM. To respond with respective business opportunities, BSM seeks to conduct syariah banking products development and innovations, by carrying product launching strategy in 2013 to raise Deposit and Fee-based income. Followign are several products launched by BSM in 2013 1. Government Retail Sukuk Series – 005 Government Retail Sukuk Series – 005 Is a Ministry of Finance Republic Indonesia retail sukuk instrument selling service. 2. Syariah Shares Savings A customers deposit account as saving product which is especially utilized to settle Securities transaction settlement (both as customers rights and liabilities), and to receive customers rights related with their securities through KSEI Account Holders. 3. Gold Installment A gold purchase/ownership purchase product in form of gold bar.
Annual Report 2013
FINANCIAL REVIEW parties, are disclosed in the notes to financial statemetns.
S. Dividend Policy
In distributing dividend, BSM applies dividend policy, as follows: 1. To pay cash dividend from net income annually, with amount as stipulated on GMS based on BOD recommendation. 2. A decision to distribute dividend is depended on profit, financial condition and liquidity, compliance against law and regulation and other factors considered relevant by BSM BOD after approved by the GMS.
As of December 31, 2013, BSM had not acquired proceeds from initial public offering through securities or bonds issueance.
2. Cooperation in Mandiri Group Circumstances
As of December 31, 2013, BSM had not conducted expansion, divestment, acquisition and restructuration with certain impac to BSM structure
V. Material Information Containing Conflict of Interest
Throughout 2013, there was no material information containing conflict of interest in material transaction with affiliated party. The nature of transactions and balances of accounts with related aprties, whether or not transacted on normal terms and conditions similar to those with third
Annual Report 2013
In the normal course of business, the Bank entered into transaction with parties whicha re defined as related parties in accordance with the SFAS No. 7 (Revised 2010) regarding “Related Party Disclosures.” The nature of transactions and balances of accounts with related aprties, whether or not transacted on normal terms and conditions similar to those with third parties, are disclosed in the notes to financial statements. Based on SFAS No. 7 (Revised 2010) “Related Party Disclosures,” transaction between the Bank and the State Owned Eterpriss/Regional Government Owned Enterprises; other entities and institutions associated with the Government of the Republic of Indonesia, the Board of Commissioners, Directors and key employees are considered as transaction with related parties.
U. Material Information on Expansion, Divestment, Acquisition and Restructuration
1. Transaction with Related Parties
BSM profit realization for fiscal years 2010, 2011 and 2012, referring to General Meetings of Shareholders Decision that BSM did not distribute dividend to the shareholders. This was to strengthen the bank’s capital structure. On the other hand, BSm net income realization for fiscal year 2013 will be stipulated on mid-year 2014 GMS.
T. IPO Proceeds and Realization
168
Bank Syariah Mandiri and Holding (Bank Mandiri) has a sustainable synergy (cooperation). The synergy program brings added value for Bank Syariah Mandiri that will utilize Bank Mandiri infrastructure which is considered appropriate for Bank Syariah Mandiri. Synergy Program is including: 1. Business Sector: micro banking, retail banking, commercial banking, corporate banking, electronic banking and Bank Mandiri network leveraging. 2. Non-Business Sector: risk management, internal audit, product development, human capital, etc.. The synergey program which can be experienced by the customers are namely BSM Gold Pawn Service Outlet launching in 4 (four) Bank Mandiri outlets (pilot project) in 2013; Bank Mandiri ATM free of charge application by Bank Syariah Mandiri customers for certain transaction and with additional features acquired by Bank Mandiri customers; syariah financing solution for Bank Mandiri customers who require based on business needs. Besides with Bank Mandiri, Bank Syariah Mandiri
PT Bank Syariah Mandiri
also builds synergy with other subsidiaries of Bank Mandiri namely by launching AXA – Mandiri outlet at Bank Syariah Mandiri outlets; and participating employees of Bank Syariah Mandiri at Bank Mandiri Financial Institution Pension Fund.
Table of Related Party No. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63
Related Party PT Bank Mandiri (Persero) Tbk PT Mandiri Sekuritas PT Bank Sinar Harapan Bali PT AXA Mandiri Financial Services PT Mandiri Manajemen Investasi Pemerintah Negara Republik Indonesia PT Bank BNI Syariah PT Bank BNI PT Bank BRI PT Bank BRI Syariah Perum Perumnas PT Indosat Tbk PT Perusahaan Listrik Negara (Persero) PT Pembangunan Perumahan (Persero) Tbk. PT Brantas Abipraya (Persero) PT Wijaya Karya (Persero) Tbk PT Pos Indonesia (Persero) PT Permodalan Nasional Madani (Persero) PT Hutama Karya (Persero) PT Istaka Karya (Persero) PT Balebat Dedikasi Prima PT Bahana Artha Ventura PT Waskita Karya PT Jamsostek (Persero) Perum Jaminan Kredit Indonesia PT Pupuk Sriwidjaja (Persero) PT Semen Baturaja (Persero) PT Krakatau Steel (Persero) Tbk PT Semen Gresik (Persero) Tbk Perum Bulog PT Bank Aceh PT BPD Jawa Tengah PT BPD Kalsel PT BPD Nusa Tenggara Timur PT Bank BPD Sulawesi Tengah PT BPD Sulawesi Selatan PT Bank Sumsel Babel PT Bank Tabungan Negara (Persero) Tbk - Unit Usaha Syariah PT Asuransi Jiwasraya (Persero) PT Kimia Farma (Persero) Tbk PT Amarta Karya (Persero) PT Semen Indonesia (Persero) Tbk PT Balai Pustaka (Persero) PT Garuda Indonesia (Persero) Tbk PT Indah Karya (Persero) PT Indofarma (Persero) PT Indra Karya (Persero) PT Kawasan Berikat Nusantara (Persero) SBU Non-Industri PT Pelabuhan Indonesia II (Persero) PT Perkebunan Nusantara VI (Persero) PT Perkebunan Nusantara XIII (Persero) PT Perkebunan Nusantara IX (Persero) PT Angkasa Pura I (Persero) PT Barata Indonesia (Persero) PT Surveyor Indonesia (Persero) PT Tabungan Asuransi Pegawai Negeri (Persero) PT Pertani (Persero) PT Sarana Multigriya Finansial (Persero) PT Kliring Berjangka (Persero) PT Adhi Karya (Persero) Tbk PT Asuransi Ekspor Indonesia (Persero) PT Asuransi Jasa Indonesia (Persero) Karyawan Kunci
PT Bank Syariah Mandiri
Nature of Affiliation Shareholder Shareholder, Deposit from costumers Owned by the same shareholder Owned by the same shareholder Owned by the same shareholder Ultimate Shareholder Subsidiary of Stated Owned Enterprises PT Bank Negara Indonesia (Persero) Tbk Stated Owned Enterprises Stated Owned Enterprises Subsidiary of Stated Owned Enterprises PT Bank Rakyat Indonesia (Persero) Tbk Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Subsidiary of Stated Owned Company PT Telkom Indonesia Tbk. Subsidiary of Stated Owned Company Bahana PUI Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Stated Owned Eterprises Unit PT bank Tabungan Negara (Persero) Tbk. Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Stated Owned Enterprises Key Employees
169
Annual Report 2013
FINANCIAL REVIEW
Balance of assets, liabilities, unrestricted investment, other operatign income, administrative expense, other operating expenses and personnel expenses with related parties are as follows: in million Description
2012
Assets Current Accounts with other banks Placements with other banks investment in securities murabahah receivables mudharabah financing musyarakah financing Total Percentage to total assets
2013
106.092.735.229 105.000.000.000 1.437.876.713.473 207.032.014.855 208.542.959.936 203.803.014.000 2.268.347.437.493 4,18%
169.097.399.528 50.000.000.000 1.185.570.047.547 121.571.475.843 97.489.261.239 140.428.887.882 1.764.157.072.039 2,76%
112.812.995.821 43.585.618.633 6.391.071.948 600.000.000.000 75.000.000.000 837.789.686.402 9,14%
69.587.375.504 144.684.579.712 517.195.092 600.000.000.000 95.000.000.000 909.789.150.308 8,25%
Unrestricted Investment Mudharabah saving mudharabah deposits Total Percentage to total temporary syirkah fundi
29.929.009.897 1.948.411.728.983 1.978.340.738.880 4,90%
94.833.053.376 931.213.624.913 1.026.046.678.289 2,16%
Other operating income receipt of banking service fee receipt of bancassurance fee receipt of retail sukuk receipt of SBSNS Jumlah Percentage to total other operating income
8.214.360.320 5.606.414.816 927.196.022 2.497.312.034 17.245.283.192 1.51%
8.966.578.500 8.621.878.050 1.754.206.740 2.263.629.415 21.606.292.705 1,81%
Personnel expenses (salary, bonus, tantiem and other benefits) Tantiem Salary Bonus Other benefits Total percentage to total personnel expenses
24.798.161.143 18.323.069.020 5.228.709.076 12.351.427.473 60.701.366.712 6,24%
32.042.000.000 21.149.143.452 2.382.660.424 12.520.823.888 68.094.627.764 5,71%
Liabilities Liabilities Due Immediately Wadiah Deposits Deposits from other banks Financing Received Subordinated Notes Issued Total Percentage to total liabilities
Annual Report 2013
170
PT Bank Syariah Mandiri
W. Changes in Regulation Impact to the Company
2. New Accounting Pronouncement Effective on or after 1 Janaury 2014.
In 2010, the Government issued Republic of Indonesia Law No. 2 of 2010 as amendment of Law No. 47 of 2009 on State Budget for Budget Year 2010 applied since May 25, 2010 that on Article 3 point 2 b and its explanation stated the VAT calculation on several transactions of syariah bank will be paid by the Government. Pursuant to appendix of article 3 point 2, total Bank VAT paid by the Government amounted to Rp25.54 billion from total SKPKB and STP received by the Bank which arrived at Rp37.65 billion.
The Management affirmed that mismatch between total VAT paid by the Government and total SKPKB and STP received by the Bank will not be charged to the Bank as the implementation of respective Law.
X. Implementation of Accounting Guidelines for Indonesian Syariah Banking (“PAPSI”) 2013 and New Accounting Pronouncement
Effective on or after 1 January 2015
1. Implementation of Accounting Guidelines for Indonesian Syariah Banking (“PAPSI”) 2013.
Bank Indonesia as the banking regulator in Indonesia has issued the revision of Pedoman Akuntansi Perbankan Indonesia (PAPSI 2013) and Surat Edaran Bank Indonesia No. 15/26/DPbS “Guidance on Implementation of PAPSI 2013” which should be effectively implemented on August 1, 2013 (PAPSI 2013). On September Asosiasi Bank Syariah Indonesia (ASBISINDO) as the representative from syariah banking industry has submitted a letter to Bank Indonesia to request postponement of implementation of PAPSI 2013 up to 1 January 2016. Currently, the Bank is still in the process of preparing action plan regarding implementation of PAPSI 2013.
PT Bank Syariah Mandiri
On December 2013, Syariah Accounting Standards Board of Indonesian Institute of Accountants has issued PSAK 102 Revision which will be effectively implemented on January 1, 2014 on a prospective catch – up basis. Major change in the PSAK 102 Revision is related to the accounting reatment for murabahah transaction which in substance categorized as financing transaction. Under PSAK 102 Revision, murabahah transaction which in substance is a murabahah financing should follow the accounting treatment of PSAK 55: Financial Instruments: Recognition and Measurement.” PSAK 50:”Financial Instruments: Disclosure,” and PSAK 60: “Financial Instruments: Disclosure,” and other relevant PSAK. With the issuance of PSAK 102 Revision, starting January 1, 2014 the Bank will implement the previously issued Technical Bulletin No. 9 “Implementation of Annuity Methid in Murabahah” as indicated in the Basis for Conclusion in PSAK 102 Revision. Currently the Bank is evaluating this PSAK 102 Revision and has not yet determined the effects on its financial statements..
171
SFAS No. 24 (Revised 2013), “Employee Benefits,” adopted from IAS 19, which removes the corridor mechanism and contingent liability disclosure to simplify clarification and disclosure. Currently, the Bank is evaluating this PSAK Revision and has not yet determined the effects on its financial statements.
Annual Report 2013
CORPORATE GOVERNANCE
BSM is highly committed on GCG principles consistent implementation. As the result, in 2013, BSM once again won “The Most Trusted Companies” predicate from SWA Magazine & IICG.
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West Sumatera - Gadang House miniature artwork
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CORPORATE GOVERNANCE A. GCG Principals and Practice In implementing GCG, BSM always refers to prevailing regulation both external and internal regulation, namely: 1. Law of Republic Indonesia No. 40 of 2007 on Limited Company; 2. Law of Republic Indonesia No. 21 of 2008 on Sharia Banking; 3. Bank Indonesia Regulation (PBI) No. 15/13/PBI/2-13 on Amendment of Bank Indonesia Regulation No. 11/3/ PBI/2009 on Sharia Commercial Banks; 4. PBI No. 13/23/PBI/2011 on Risk Management Implementation for Sharia Commercial Banks and SBU; 5. Bank Indonesia Regulation No/ 14/27/PBI/2012 on Anti Money-Laundering (APU) & Terrorism Financing Prevention (PPT) Program Implementation for Commercial Banks;
G
ood Corporate Governance (GCG) implementation in Bank Syariah Mandiri (BSM) is carried with several efforts to raise BSM management awareness and working process consistency supported with role model and the management of BSM.
6. PBI No. 11/33/PBI/2009 dated December 7th, 2009 and SEBI No/12/13/DPbS dated April 30th, 2010 on Good Corporate Governance Implementation for Sharia Commercial Banks and SBU.
The effort carried were namely developing knowledge and innovation culture of entire BSM Management. The Management gives broadest opportunity to every part of BSM to develop knowledge ins upporting duty and responsibility execution.
7. PBI No. 13/2/PBI/2011 dated January 12th, 2011 on Compliance Function Implementation in Commercial Banks; 8. PT Bank Syariah Mandiri Article of Association;
High awareness and consistency in implementing GCG principle at every organization line will provide positive impact in achieving GCG objective.
9. PT Bank Syariah Mandiri Board Manual; 10. PT Bank Syariah Mandiri Compliance Policy;
BSM exercises GCG by referring to Bank Indonesia Regulation No. 11/33/PBI/2009 dated December 7th, 2009 and Bank Indonesia Circular Letter No. 12/13/DPbS dated April 30th, 2010 on Good Corporate Governance Implementation in Sharia Commercial banks and Sharia Business Unit (SBU) comprising of 5 TARProf principals of Transparency, Accountability, Responsibility, Professional and Fairness.
11. Bank Syariah Mandiri APU & PPT Implementation Manual; 12. Joint Decree No. 12/002-SKB/Kom.Dir dated December 27th, 2010 on Good Corporate Governance (GCG) Charter; 13. Circular Letter No. 13/010/UMM dated July 26th, 2011 on Good Corporate Governance Implementation SelfAssessment;
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PT Bank Syariah Mandiri
14. SE No. 13/018/UMM dated December 31st, 2011 on GCG TARProf Principle Implementation Obligation.
Various appreciation received throughout 2013 as the actualization of external parties recognizion both domestic and international for BSM consistency in implementing GCG principle. In 2013, BSM won several awards, as follows:
15. SE No. 15/004/UMM dated April 3rd, 2013 on Good Corporate Governance.
1. Consistency and Commitment of GCG Implementation
Consistency and commitment of entire BSM management in implementing GCG becomes principal of GCG realization in BSM. The Management of BSM continuously encourages BSM employee to be committed and consistent in carrying GCG principle as regulated under PBI No. 11/33/PBI/2009 on GCG Implementation for Sharia Commercial Banks and Sharia Business Unit in every duty and responsibility implementation to achieve sustainability advantage.
Consistency and commitment of the GCG implementation is started from top level proven by winning various awards on GCG implementation won by BSM, including:
1. Annual Report Award 2012 Prestigious award won by the Bank for the fourth times related with Annual Report 2012 preparation as First Winner for Non-Listed Private Financial Company. One of the assessment indicators with highest assessment percentage is Good Corporate Governance (GCG) aspect. The award was held in cooperation between Bapepam – LK with Taxation General Directorate, Ministry of SOE, Bank Indonesia, Indonesia Stock Exchange, National Committee of Governance Policy and Indonesian Accountant Association. 2. BSM Participation on External Party Assessment (Rating Agency)
1. President Director, Yuslam Fauzi won Innovative CEo predicate held by GATRA Magazine on strategic thinking, accurate decision making, establishing synergy between HR and determined strategy, excellence and result – oriented categories. 2. The Best Islamic Bank in Indonesia 2013 Award from Euromoney. 3. Indonesia Middle-class Brand Champion 2013 Award held by SWA Magazine and Inventure on ownership of resources, knowledgeability and social connection variables. Surely, this will drive BSM employees’ spirit to be more focused in implementing GCG for the Bank’s business existence in sustainable manner.
PT Bank Syariah Mandiri
2. GCG Implementation Appreciation
175
BSM was a participant on Corporate Governance Perception Index (CGPI) 2012 for the second time. The CHPI Program is a Good Corporate Governance (GCG) implementation assessment program from public/Stakeholders held by independent agency, The Indonesian Institute for Corporate Governance (IICG) supported by SWA Magazine. The theme carried on the program is annually changed and for 2013, IICG brought the theme “GCG on Knowledge Perspective.” BSM participation on the program became the actualization of GCG enforcement commitment and awareness towards Corporate Governance (CG) implementation quality. At CGPI 2012 awarning night, BSM was presented as one of the speakers in CGPI 2012 talkshow attended by President Director of BSM, Yuslam Fauzi. At CGPI 2012 awarding night on December 16th, 2013, BSM won The Most Trusted Companies predicate.
Annual Report 2013
CORPORATE GOVERNANCE
B. GCG Policy and Manual Infrastructure Table of GCG Practice Assessment Quarter Index 2013
Optimization of GCG implementation in BSM is continuously carried by strengthening infrastructure to achieve best practice, reliability testing as well as system and procedure adjustment based on business and sharia banking regulation changing to support more oeffective GCG implementation.
No 1
Periode QuarterI
2013 82.99
2
QuarterII
82.69
81.93
3
QuarterIII
81.65
81.20
4
QuarterIV
82.84
79.24
Note: Index GCG < 60 : Not Comply 61 ≤ Index GCG ≤ 70 : Less Comply 71 ≤ Index GCG ≤ 80 : Fair
Policy and Standard Operationg Procedures (SOP) infrastructure to support GCG implementation, among others:
2012 78.20
81 ≤ Index GCG ≤ 90 : Comply 91 ≤ Index GCG ≤100 : Very Comply
implementation is carried quarterly to assess GCG principle implementation in certain unit with final result as GCG Index. Based on ISA assessment result, GCG implementation in BSM at the working units during 2013 was considered on “Comply” level.
1. Code of Conduct, 2. GCG Charter, 3. Board of Commissioners Charter, 4. Board of Directors Charter, 5. Remuneration and Nomination Committee Charter, 6. Audit Committee Charter,
2. External Self Assessment (ESA)
7. Risk Monitoring Committee Charter, 8. Coordinative Charter of Director who supervises Compliance Function and Compliance Unit with Sharia Supervisory Board (SSB),
External Self-Assessment (ESA), is a GCG self assessment practice using external checklist (parameter) based on Bank Indonesia regulation, as stated under:
9. Internal Audit Charter, 10. Policy and SOP.
1. SEBI No.1 2/13/DPbS dated April 30th, 2010 on Good Corporate Governance implementation for Sharia Commercial Bank and Sharia Business Unit.
.
C. GCG Implementation Assessment Result 2013
2. SEBI No. 15/15/DPNP dated April 29th, 2013 on GCG Implementation for Commercial Banks. Pursuant to aforementioned regulations, ESA of BSM GCG implementation is consisted of:
1. Internal Self Assessment (ISA)
1. Sharia Commercial Bank Annual GCG SelfAssessment; 2. Consolidated GCG Self-Assessment.
ISA is a GCG self-assessment practice using the Bank internal checklist standard. ISA
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PT Bank Syariah Mandiri
Following are result of BSM ESA implementation for 2013 period: 1. Sharia Commercial Bank Annual GCG SelfAssessment for 2013 period.
Sharia Commercial Bank Annual GCG SelfAssessment is a GCG assessment practice held autonomously by BSM using Sharia Commercial Bank special parameters with result delivered to Financial Service the latest 3 (three) months after the fiscal year ended.
Table of SBU Annual GCG Self-Assessment for 2013 Period. No.
Factors
Rating(a)
Weight(b)
Score (a)X(b)
1
Board of Commissioners duty and responsibility implementation
2
12.50%
0.25
2
Board of Directors duty and responsibility implementation
2
17.50%
0.35
3
Committee infrastructure and duty implementation
10.00%
0.2
4
Sharia Supervisory Board duty and responsibility implementation
2 2
10.00%
0.2
5
Sharia principle implementation on fund collection and disbursement and service activities
2
5.00%
0.1
6
Conflict of interest handling
3
0.3
7
Compliance function implementation in the Bank
2
8
Internal audit function implementation
2
9
External audit function implementation
1
10
Legal Lending Limit
1
11
Disclosure of financial and non-financial condition, GCG implementation and internal reporting
1
10.00% 5.00% 5.00% 5.00% 5.00% 15.00%
Composite Score
100.00%
Predicate: Good
Followign are Sharia Commercial Bank Annual GCG Self-Assessment General Summary for 2013 period.
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0.1 0.1 0.05 0.05 0.15
1.85
CORPORATE GOVERNANCE Table of SBU Annual GCG Self-Assessment Genreal Sumary for 2013 period. No.
Factor
Composite Score and Predicate
Rating
0,25 – B
2
Board of Commissioners 1
duty and responsibility
The Board of Commisioners has implemented duty and responsibility as well as appropriately in carrying monitoring
implementation
function in the Bank.
Board of Directors 2
duty and responsibility
GCG Practice Potential
0,35 – B
The Board of Directors carries duty and responsibility by
2
implementing GCG principles appropriately.
implementation
In carrying its duty and responsibility,the Board of Directors 3
Committee infrastructure and duty implementation
has established several Committees to support Board of 0,20 – B
2
Commissioners duty and responsibility implementation as well as complies with mandatory requirement and competency to carry their duty and responsibility as the Committees. Sharia Supervisory Board (DPS) has carried duty and responsibility appropriately that ensures the Bank to perform its business based on sharia principle.
Sharia Supervisory Board 4
duty and responsibility
0,20 – B
DPS conducted sampling test to several branches to ensure fund
2
collection and disbursement process has complied with sharia
implementation
principle. Monitoring report delivery had been conducted timely to Bank Indonesia. Every fund collection, fund disbursement and service products launched by the Bank had passed DPS opinion on product
5
Sharia principle
compliance with sharia principle. DPS performs monitoring
implementation on
on sharia principle implementation practically by conducting
fund collection and
0,10 – B
2
sampling test to Branch Office. Field finding based on conducted
disbursement and service
sampling test was not generally directed to the launched
activities
product but more to dissenting opinion or understanding on a transaction, to the finding, the Bank will immediately settle based on DPS opinion BSM has internal policy and regulation which regulates conflict of
6
Conflict of interest handling
interest. The conflict of interest handling had been appropriately 0,30 – CB
3
carried. The Management imposed firm punishment for every violation due to conflct of interest without discriminating and with deterred effect to the violators
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PT Bank Syariah Mandiri
BSM has implemented compliance function appropriately. BSM has a Director who supervises Compliance Function who is Compliance function 7
concern in handling the Bank compliance function.
implementation in the
0,10 – B
2
Bank
Compliance unit who carries compliance function independently against operational unit supported with personnel with adequate competency to assist effective compliance function implementation BSM has implemented internal audit function appropriately and
8
Internal audit function implementation
independently against operational unit and supported with 0,10 – B
2
personnel with particular competency based on each division. Competency of every Internal Audit Unit personnel is continuously developed to support the Bank business growth Appointed Public Accountant Office (KAP) is Ernst & Young, affiliated Purwantono, Sarwoko & Surja which had passed selection process amng Accounting Division, Audit Committee,
9
External audit function implementation
0,05 – SB
1
Board of Directors and Board of Commissioners before appointed to GMS. Appointed KAP has adequate competency in their expertise and has delivered management letter timely as well as able to work professionally. BSM has implemented prudential banking and risk management principles appropriately in providing fund disbursement to
10
Legal Lending Limit
0,05 – SB
1
related party. Fund provision related policy and procedure will be continuously updated referring with prevailing law and regulation update. BSM financial and non-financial condition disclosurehad been appropriately carried and supported with Business Intelligence Dashboard system with reporting which was delivered to the
Disclosure of financial and 11
non-financial condition, GCG implementation and
management periodically. 0,15 – SB
1
BSM had disclosed financial and non-financial condition disclosure to the stakeholders timely.
internal reporting
BSM internal report has been supported with MIS & Datawarehouse application development by Operation Division IT (IOD) and IT Assurance Division (ISD) professional experts.
Composite Score
1,85
“good”
Note: Composit Score Composite Score 65-75
4
Less Good
High
0-65
5
Not Good
Very High
3. Know Your Employee (KYE) Implementation Effectiveness
a.
Employees candidate recruitment screening process is carried on profile and track record with possibility of money laundering and terrorism financing crime in compliance with SE No. 12/0212/SDI, dated September 15, 2010 on Employees Recruitment and Selection Procedure.
HR Management Program 1) CPD – SKAP implements additional material program related with frequent case occurred at branch on SQUAT application. 2) CPD – SKAP conducts HR development by intensifying SKAP Staff through telephone, mailing list, etc. 3) CPD – SKAP carries BSM APU and PPT training monitoring and implementation for Front-liners, Retail Banking and Operation Banking Staff at Al-Azhar Learning Centre.
Annual Report 2013
b. New Employees Screening
c. Existing Employee Screening Screening program is continuously carried by HCD applying employee checklist screening on position promotion process, based on regulation to reach 100%.
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PT Bank Syariah Mandiri
List of New and Promoted Employees who had passed screening for 2012 and 2013 period, as follows:
Employees Promotion 2012 - 2013 No.
Month
Total new employees 2012
Total Promoted Employees
2013
2013
1
January
9
100
14
23
2
February
27
23
29
11
3
March
18
52
51
29
4
April
78
25
36
32
5
May
60
31
10
102
6
June
54
30
29
40
7
July
32
31
41
69
8
August
38
22
8
69
9
September
75
14
26
40
10
October
71
10
0
55
11
November
55
35
70
59
12
December
55
17
38
24
Total
572
390
352
553
4. Socialization of APU PPT Implementation
2012
BSM implemented several APU and PPT implementation socialization program, as follows: a. SKAP Staff Workshop for Region III; b. Recent APU and PPT Circular Letter socialization to SKAP Staff under APU and PPT Online Test Refreshment Program; c. APU and PPT related information dissemination through SKAP Staff mailing list; d. Providing material on BSM APU and PPT training for Front-liners, Retail Banking and Banking Staff Operation .
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Annual Report 2013
CORPORATE SOCIAL RESPONSIBILITY
BSM cooperate with LAZNAS in carrying out CSR activities.
Annual Report Laporan Tahunan 2013 2013
272
PT PT Bank Bank Syariah Syariah Mandiri Mandiri
South Sulawesi - Authentic Toraja Tongkonan house miniature artwork
PT Bank Syariah Mandiri
273
Annual Report Laporan Tahunan 2013 2013
CORPORATE SOCIAL RESPONSIBILITY
U
nder triple bottom lines approach comprising of economic indicators, environmental indicators and social indicators, BSM is expected to bring benefit to the shareholders but also to broader stakeholders which are the customers/customers, society and environment. Thus, BSM seeks to optimize Company’s profit to be in line a purpose to provide highest benefit to people and planet. BSM assures that within holistic approach will support sustainable development purpose, refers to a development performed to meet current generation needs without sanctifying future generation interest. In practicing sharia banking business, the Bank also has carried various Corporate Social Responsibility (CSR) as a feedback of currently practiced business process. The realization of respective responsibility is namely social responsibility to employees (occupational), customers/ depositors, society (non-customers stakeholders) and surrounding environment.
BSM consistently carries Corporate Social Responsibility (CSR) as the realization of Company’s concern and appreciation to the society who has trust and support on sharia banking business process. given
A. CSR Policy Constituting the fourth mission of BSM is to develop sharia universal values, as Value-Driven Company, BSM also has “ETHIC” shared values that is continuously implemented on
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PT Bank Syariah Mandiri
working environment. Humanity as part of the shared values has one of key behaviros which is Social & Environment Care: having sincere awareness to environment and social community. On the CSR practice implementation, BSM develops partnership with BSM LAZNAS/partners in disbursing zakat fund of the Company and implementing Humantiy program as well. The reference of CSR program implementation is under BSM and BSM LAZNAS No. 12/410-PKS/DIR, No. 09/001/LAZBSM/DIR dated November 12, 2010 on Zakat and Program Fund Disbursement. BSM realizes that Corporate Social Responsibility (CSR) is an important aspect on the Bank’s development. The Bank brings CSR as long-term program of the Company that in achieving business sustainability, the Bank seeks to deliver optimum performance for the shareholders and considers how to contribute optimally on social and environmental aspects.
products and services offered by the Bank.
1. Synergy with Laznas
The Bank disburses zakat fund of the Company (Bank), Bank’s employees, customers, and public to the needy by establishing synergy with BSM LAZNAS. The disbursement is carried throughout beneficiary and advantageous for the society by involving BSM employees, BSM LAZNAS and surrounding community. CSR Activity in cooperation with BSM LAZNAS executed several program, as follows:
a. Mitra Umat 1) Micro Entrepreneurs Community economy development and empowerment through capital assisstance, training and individual business assistance. 2) 2) Micro Society Community economy development and empowerment through capital assisstance, training and business assistance dedicated for LKMS.
In carrying CSR activity, the Bank applies profit, people and planet balance or widely acknowledged as triple bottom lines approach. The Bank does not only chase profit but also promoting people and planet aspects. The bank attempts to achieve “triple bottom lines” balance in achieving its purpose that will be able to provide added-value to the Stakeholders.
b. Didik Umat
Robust and sustainable profit achievement will fail to be achieved on marginal people and harmful planet condition. In modet term, it can be explained that business will not be operated on marginal social (community economy) and harmful planet condition. Therefore, the Bank is aware the importance of CSR as an effort to achieve balance in supporting business sustainability that the final goal in meeting the Stakeholders’ interest will be achieved. The Bank consistently constitutes Corporate Social Responsibility (CSR) as a realization of the Company’s awareness as well as appreciation to the society which has provided trust and support on sharia banking business process. The Bank’s business sustainability is related with the society participation in pursuing various sharia banking
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265
Providing education assistance (scholarship) to the needy and seeking learning process continuity. The donation is also including learning facility and infrastructures.
c. Simpati Umat 1) Health Assistance to the needy on health sector including its facility and infrastructure. 2) Natural Disaster and Environment Assistance to anticipate emergency response and actively reduces impact of social disaster, also actively improves or elevates environment quality generally
Annual Report 2013
CORPORATE SOCIAL RESPONSIBILITY
That the CSR program implementation can be effective, every CSR program of the Bank has preceededly assessed via survey and surrounding environment and community mapping. CSR Program is prepared based on well-prepared mapping and concept that the implementation is synergized with National Amil Zakat Institution (LAZNAS) of BSM. That the program is optimally carried, CSR program is aligned with local environment condition which involves related party with the Government and local community.
BSM Welfare Fund Source No
2. CSR Fund Source
Fund
Nominal (Rupiah) 2012
2013
830.667.606
27.300.018.406
8.472.541
-
1.
Penalty
2.
Donation / Grant
3.
Non-Halal Revenue
453.611.371
191.243.336
4.
Other Social Funds
481.628.334
607.935.204
Jumlah Sumber Dana Kebajikan
1.774.379.852
28.099.196.946
As a realization of Company’s commitment towards social activities, the Bank allocates fair and adequate budget to consistently support growing CSR program. CSR program implementation has 3 (three) fund sources which are Welfare Fund (Dana Kebajikan) and Zakat Fund.
b. Zakat Fund
In 2013, BSM LAZNAS has collected Zakat, Infaq and Shodaqoh (ZIS) from the Company’s (BSM) Zakat with detail as follows:
ZIS Fund Source a. Welfare Fund
Welfare fund source is acquired from non-halal income, penalty and other social funds. Balance at the end of 2013, CSR fund from Welfare Fund reached to Rp28,099,196,946 or booked robust growth from 2012 which was Rp1,774,379,852.
No.
Source
266
2012
2013
1
BSM - Corporate ZIS
14.582.880.512
19.177.801.129
2
BSM Employees Zakat
14.912.269.260
5.085.377.257
3
BSM Customers Zakat
7.100.264.051
2.524.576.250
4
Public ZIS
5.320.202.505
3.868.644.546
41.915.616.328
30.656.399.182
Total
Annual Report 2013
Nominal (Rupiah)
PT Bank Syariah Mandiri
3. CSR Fund Disbursement
CSR Fund per Program Disbursement
The Bank disburses fund, both from Social Fund, Zakat Fund and Operational Fund. Throughout 2013, BSM cooperated with BSM LAZNAS in performing various CSR activities through several activities with total fund disbursement reached to Rp32.09 billion in 2013. Detail of CSR activity fund realization is as follows:
Detail of Fund Realization No
No
Program
Zakat
133 Foundation
198 School
11 Laz
49 Mosque
57.124 Public
2
Infaq and Shodaqoh
1 Foudation
7 School
1 Laz
1 Mosque
13 Public
3
Wakaf Total
PT Bank Syariah Mandiri
7.606.338.396
186.00%
2
Didik Umat
9.249.674.228
9.548.805.938
3.23%
3
Simpati Umat
9.683.048.524
14.818.633.642
53.04%
4
Dana Program
837.094.510
95.188.000
-88.63%
22.429.387.463
32.068.965.976
42.98%
30.380.812.874
1.669.225.102
18.928.000 32.068.965.976
267
%
2.659.570.201
Nominal (Rupiah)
1
Growth
Mitra Umat
Total
Recipient
2013 (Rp)
1
Fund Realization 2013
Description
2012
Annual Report 2013
CORPORATE SOCIAL RESPONSIBILITY 4. Social Fund Disbursement
Throughout 2013, the Bank realized social activity fund both through Head Office and Branch Office amounted to Rp614.92 billion. The activity is an actualization and realization of the Ban’s social responsibility to the society. Detail of fund disbursement for social activity disbursed by the Bank is as follows:
B. CSR For Social Community and Environment
1. SE No. 8/001/PEM dated January 2nd, 2006 on Financing Manual Revision.
Social Fund Disbursement Date January 11, 2013 February 6, 2013 February 11, 2013 February 22, 2013 April 3, 2013 April 9, 2013 April 10, 2013 April 24, 2013 April 29,2013 May 2, 2013 May 2, 2013 May 2, 2013 May 17, 2013 May 27, 2013 June 4, 2013 June 28, 2013 June 28, 2013 July 16, 2013 July 17, 2013 September 9, 2013 September 13, 2013 October 2, 2013 October 22, 2013 October 30, 2013 November 18, 2013 November 21, 2013 December 5, 2013 December 11, 2013 December 12, 2013 December 17, 2013 December 17, 2013
BSM is highly committed to CSR implementation which is related with social community and environment as stated on:
Remarks Orphans donation Flood victiom donation Donation for majelis Ta’lim Assyafeiyah Donation for Betawi Youth Forum Carpet donation for Darussalam msoque Social charity program Waqf program socialization CSR donation for IB Vaganza event Education donation for PAUD Griya Bina Kijang Cinere Annisa mosque construction donation Karrisma Gunung Kidul activity donation CSR donation for YPM Darusallam Sangatta school Donation for Nurul Islam Islamic Center Mosque Construction in Bekasi Carpet donation for Al Ihsan Mosque Cemetery equipment donation Carpet donation for Nurul Yaqin Mosque Donation for MDTA - AT-Thohiriyah Carpet donation at Al Ihsan Mosque World Lupus Day 2013 donation Smart Comm Activity donation Al Ihsan mosque construction donation in Pondok Timur Mas Bekasi Carpet donation for Al Ihsan Mosque Qurban donation in Cilegon Donation for Al Jawahiriyah Islamic School Land Expansion Al Amien Mosque construction donation IPB Excellent Students Scholarship YPI Al Azhar waqf program Mass circumcision donation PMI Blood donation fleet procurement donation Donation for PIISEI Jaya Sakinah Finance book purchase donation
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Total (Rp) 5.000.000 5.000.000 5.000.000 5.000.000 33.187.500 30.541.500 4.000.000 5.000.000 4.000.000 5.000.000 7.500.000 20.000.000 10.000.000 109.606.250 10.000.000 28.943.571 5.000.000 98.645.625 5.000.000 5.000.000 16.875.000 10.960.625 5.000.000 20.000.000 5.000.000 4.000.000 5.000.000 21.656.250 100.000.000 10.000.000 15.000.000 614.916.321
PT Bank Syariah Mandiri
2. Financing Policy Manual Book dated April 2nd, 2007 on environment management liability for financing customers as regulated under: a. Chapter II article 2012 point E on Financing Policy “the Bank has to prevent financing for business sector which do/has not complied with environment impact policy (AMDAL) that will cause environmental hazard.” b. Chapter VI point A on Earning Assets Quality of Financing Assets Quality Assessment for financing customers business prospect in relation with customers’ effort in preserving the environment. c. Chapter XI point D on Financing Disbursement Process, Sub-Capther Productive Financing Analysis.
3. Circular Letter (SE) No. 9/029-PEM dated July 26th, 2007 entitled Policy Manual Revision Chapter VI on Earning Assets Quality Sub-Chapter A.3.b.3). Financing customers business prospect assessment mainly for components related with customers’ initiative in preserving the environment.
1. Social Community and Environment Program
In assessing technical/production aspects, the Bank is required to perform analysis on environmental impact, including: a. Pollution level on production process. b. Facility to prevent waste pollution/management whether has complied with the regulation or not. c. Complaints from the residents of business/plants neighborhood d. Has to comply with prevailing government regulation whether the customers/applicant has obtained AMDAL license from authorized institution.
The Bank ensures that the Company’s performance has to bring positive impact to community welfare improvement. The community welfare improvement will later support the Bank’s sustainable business development.
To achieve respective condition, the Bank performs various social and environment activities, as follows:
a. Partnership Program
CSR realization on community economy development sector is aimed to establish public independency in achieving long-term welfare improvement. CSR program in this sector is carried out by providing capital assistance, working facility support and other programs.
Partnership Program CSR No 1
Activity Micro shop customers assistance and training activity
Area
Total Recipient
Indonesia
1.748 People
Nominal (Rp) 759.304.190
2
LKMS Training expense assistance
Indonesia
811 People
671.589.492
3
Entrepreneurship training donation
Indonesia
1.113 People
543.658.677
4
Independent Capital National Project (PNPM) Training
Indonesia
696 People
955.712.000
5
individual group capital assistance
Indonesia
37 People
1.307.250.000
6
Business group capital assistance
Indonesia
216 People
982.743.000
7
Wiramandiri mosque donation
Indonesia
1.638 People
8
Livestock donation
Indonesia
715 People
1.475.634.695
Grand Total
7.548.469.829
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Annual Report 2013
852.577.775
CORPORATE SOCIAL RESPONSIBILITY Economy Development Program No
Activity
1
Individual business capital donation
2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17
79.639.000
Mushroom (Kumbung) Cultivation Operational Asistance
Bogor
1 Institution
601.679.084
The Raal Tea drinking business Working Capital and outlet assistance
Jakarta
9 People
30.000.000
Jakarta
30 People
63.000.000
Katamso
10 People
22.500.000
Sleman
1 Institution
22.000.000
Yogjakarta
1 Institution
10.000.000
Bekasi
1 Institution
18.907.850
Tuban
100 People
85.000.000
Kediri
Institution
150.000.000
Lampung
30 People
31.825.000
Cianjur
Institution
21.500.000
Pati
25 People
100.000.000
Jayapura
1 People
2.000.000
Jember
1 Institution
5.200.000
Pekalongan
1 Institution
10.000.000
Semarang
30 People
15.000.000
Solo
1 Institution
30.000.000
Pekalongan
30 People
15.000.000
Sigli
1 Institution
15.000.000
Jakarta
1 Institution
15.000.000
Lampung
50 People
100.000.000
Malang
20 People
15.000.000
Garut
10 People
6.000.000
Malang
15 People
15.000.000
Jakarta - Roxy
10 People
50.000.000
Tasikmalaya
1 Institution
3.000.000
500 Institutions
1.127.319.267
Hijrah boarding home dhuafa family traders working capital and cart repair donation Pedicab donation for Katamso poor people in cooperation with BSM Katamso Brick printing machine donation for Ponpes Al-Qordir in cooperation with BSM Sleman Goat breeding donation for Ponpes Sabilunajah in cooperation with BSM Yogjakarta Bantuan peternak ikan Ponpes Al-Hidayah kerjasama dengan BMS Bekasi Donation to 100 cow breeders for Tuban society in cooperation with BSM Tuban CSR donation for economy development BSM Kediri Fisherman ships donation for Sinar Laut village community and partnership ceremony in cooperation with BSM Lampung Yayasan Cindev Micro enterprise donation in cooperation with BSM Cianjur Pati society street vendor donation in cooperation with BSM Pati Jayapura society business empowerment in cooperation with BSM Jayapura 1 Unit computer donation for SMK Jember in cooperation with BSM Jember BMT Pekalongan Training/Outbond donation in cooperation with BSM Pekalongan Semarang society revolving fund donation in cooperation with BSM Semarang
19
Pekalongan micro society donation in cooperation with BSM Pekalongan
20
PNPM Sigli training in cooperation with BSM Sigli
21
BMT gathering donation in cooperation with BSM kanwil II
22
Bicycle donation for newspaper seller in cooperation with BSM Lampung
25 26
Nominal (Rp)
103 People
PPAP Seroja microfinance donation in cooperation with BSM Solo
24
Total Recipient
Jabotabek
18
23
Area
KOPKAR BSM Malang stall donation Garut society Duck Breeding economy development support in cooperation with BSM Garut Kopkar Tunas Harapan canteen stall donation in cooperation with BSM Malang 10 mosque surrounding community economy development in cooperation with BSM Jakarta - Roxy
27
Entre and PZU training in cooperation with BSM Tasikmalaya
28
Sharia micro financial institution business capital training and donation in cooperation with n BSM nationwide
Indonesia
Total
2.659.570.201
Annual Report 2013
270
PT Bank Syariah Mandiri
b. Environmental Development Program Throughout 2013, the Bank carried environtmental development program as follows:
1) Education and Training Aspect
The program is focused on education quality improvement, carried out by giving scholarship to students from poor family. The activity is executed comprehensively both in the Bank’s Head Office in Jakarta and branch office all over Indonesia.
Education and Training Program Total Recipient No
Activity
Area
Nominal (Rp)
Institution
Individual
School
Foundation
8.845
102
0
5.471.703.292
Indonesia
256
0
1
1.059.947.412
Education donation program
Indonesia
14.766
0
0
1.766.453.054
Institution and foundation educational support
Indonesia
2.604
48
8
1.154.463.530
26.272
197
2
9.452.567.288
1
Scholarship for elementary school, junior high school and high school
Indonesia
2
University student scholarship
3 4
Total
2) Religious
CSR Program on social/cultural/religious aspect is carried out on dhuafa donation, Ramadhan charity and other programs.
Religious Program No 1
Activity Ramadhan Activity Donation
Area
Total Recipient
Nominal (Rp)
Indonesia
52.741 people
4.699.634.000
2
Qur’ban activity donation to remote area
Indonesia
12.000 Families
580.571.000
3
Individual Orphans Donation
Indonesia
2.810 People
312.774.618
4
Orphans Donation via Institutions
Indonesia
104 Institutions
725.300.000
5
Moslem Religious Day Donation
Indonesia
120 Institutions
486.611.100
6
Syaria Economy Movement (GRES) program donation
Indonesia
Total
PT Bank Syariah Mandiri
58.336.500 6.863.227.218
271
Annual Report 2013
CORPORATE SOCIAL RESPONSIBILITY
3) Public Facility
CSR program on public facility is carried out as mosque and Islamic school construction and renovation assistance, public facility donation and other program.
Public Facility Program No
Area
Total Recipient
1
Education facility and infrastructure donation
Activity
Indonesia
26 Institutions
2
Ambulance and healthcare facility donation
Indonesia
23 Institutions
Nominal (Rp) 427.117.000 1.100.523.445 1.527.640.445
Total
4) Public Health Improvement and Environment
Activity on public health sector is carried out as health, blood donation, mass circumcision and other donation. On the other hand, for environmental development program is carried out namely through clean facility and MCK (public toilet) construction). Th activities are carried both by Head Office in Jakarta and Branch Office all over Indonesia.
Public Health and Environmental Program No
Activity
Area
Total Recipient
Nominal (Rp)
1
Individual health care assistance
Indonesia
2620 people
702.480.943
2
Blood donation
Indonesia
5 Institutions
154.056.700
3
Regular Healthcare program
Indonesia
13.839 people
389.710.000
4
Malnutrition Eradication Donation
Indonesia
8.395 toddlers
797.157.500
5
Mobile Healthcare Charity
Indonesia
4.554 people
825.671.375
6
BSM Umat Health Clinic Construction
Jakarta
1 Institution
264.809.000
7
Ambulance Donation
Jakarta
1 Institution
263.825.000
8
Mass Circumcision
Indonesia
12 Institution
133.735.000 3.531.445.518
Total
Annual Report 2013
272
PT Bank Syariah Mandiri
Table of Environmental Program No
Activity
Area
Total Recipient
Nominal (Rp)
1
Clean Water and Public Toilet Facility Construction
Indonesia
44 Institutions
996.900.000
2
Clean Water Facility Construction
Indonesia
36 Institutions
380.600.937
Indonesia
19 Institutions
644.146.900
Aceh
2 Institutions
80.000.000
Jadebotabek
2 Institutions
80.000.000
Dumai
1 Institution
50.000.000
Bali
1 Institution
50.000.000
3
Public Toilet Facility Construction
4
2 Unit Public Toilets Construction at Jantho
5
2 Unit Public Toilets Construction
6
Permanent Waste Bin Donation
7
Mangrove Planting Assistance in Tanjung Benoa
8
Garbage Transportation Donation in di Bone
Makasar
1 Institution
21.000.000
9
Other Environmental Development Program
Indonesia
16 Institutions
259.194.000
Total
2.561.841.837
2. Other Non-Government Organization
As part of social responsibility realization, The Board of Directors of the Bank also actively participates on various Non-government Organization, as follows:
Table of Social Community Activity No 1
Social Community Activity
Position Chairman
Asosiasi Bank Syariah Indonesia (Asbisindo):
2
Perhimpunan Ban-Bank Nasional (Perbanas)
Deputy
3
Ikatan Ahli Ekonomi Islam Indonesia (IAEI)
Deputy II
4
Masyarakat Ekonomi Syariah (MES)
Chairman
5
Pusat Komunikasi Ekonomi Syariah (PKES)
Steering Committee
6
Kamar Dagang dan Industri (KADIN)
Head of Sharia Financial Division Permanent Committee
7
Sharia Economy Focus Group, Ikatan Sarjana Ekonomi Indonesia (ISEI)
Member
8
Banker Association for Risk Management (BARa )
Expert Panel
9
Ikatan Alumni Universitas Indonesia Fak. Ekonomi (ILUNI FE)
Deputy
10
Ikatan Cendekiawan Muslim Indonesia (ICMI)
Division Member
11
Ikatan Bankir Indonesia (IBI)
Member
12
Forum Komunikasi Direktur Kepatuhan Perbankan (FKDKP)
Member
13
Ikatan Komite Audit Indonesia
Member
14
Forum Silaturrahmi Perkantoran (Forsimpta)
Member
15
Ikatan Alumni IPB
Member
16
Ikatan Saudagar Muslim Indonesia (ISMI)
Steering Member
PT Bank Syariah Mandiri
273
Annual Report 2013
CORPORATE SOCIAL RESPONSIBILITY C. CSR on Occupational Sector
Every employee who fails to directly participate on FDP can obtained similar information with FDP participant through Board of Directors speech record and translation which is uploaded by Corporate Secretary on intranet.
1. Employment Internal Acticity a. Morning Playing Forum (FDP) FDP is regularly carried every Monday morning starting from 07.45 – 08.30 WIB, took place at 11th Floor Lobby, PT Bank Syariah Mandiri Head Office. The FDP is participated by more than 700 employees including the Board of Directors, Division Head, Executives of Regional Office II and III, Jabodetabek Branch Office Head and entire BSM employees in Head Office. FDP is started with praying together and started with weekly review, the presentation and working unit which informs currently progress working program.
FDP is ended by Spirit of the Week presentation, extracting core values of ETHIC (Excellence, Teamwork, Humanity, Integrity, Customer Focus) Shared Values. Core Values is an explanation of ETHIC valuesinferred from Al Qur’an and Hadits.
FDP is a Knowledge Transfer Forum and Transparency Forum for entire BSM employees, that:
As the FDP carried every Monday, morning pray activity is also conducted every Tuesday – Thursday to start the working activity. The activity is filled with praying together, information sharing from each division and briefing from Division Head.
b. Wednesday Evening Recital
Wednesday Evening Recital invited speakers from Ulemma and expert from various studies. Variety of speakers and recital theme are aimed to develop spiritual quality and broaden employees religious knowledge. Wednesday Evening Recital carried in entire branch office all over Indonesia.
• Every participants of FDP will obtain hot information on company’s performance achievement. • The Board of Directors will give an advise on presented weekly performance. • Every employee obtains information directly and from most competent party on company’s monthly performance achievement. • Every employee will directly learn on what and how the management will respond in taking decision on the Company’s dynamics.
Annual Report 2013
Wednesday Evening Recital is performed regulary every Wednesday evening starting from 16.30 – 18.00 WIB (Maghrib), located at Al-Ihsan Mosque, Head Office of PT Bank Syariah Mandiri. The recital is participated by every employee in Head Office and Board of Directors.
c. Friday Morning Dzikir Friday Morning Dzikir is carried periodically every Friday Morning, at 07.30 – 08.00 WIB, located at Al-Ihsan Mosque, Head Office of PT Bank Syariah Mandiri. The recital is participated by entire employees and held in Branch Office nationwide inviring all of employees in branch office.
274
PT Bank Syariah Mandiri
2. Freedom to Unite through BSM Club
a. b. c. d. e. f. g.
Islam Religious Unit Soccer Unit Basketball Unit Badminton Unit Indoor Soccer Unit Tennes Unit Syariah Mandiri Touring (SMART): Motorcycle Club h. BSM Adventure: Nature Lover Club i. Syariah Mandiri Cycling (Smiling): Bicycle Club j. BSM Photography Club: Photography Club k. BSM Readers Club: Book Club l. BSM Fishing Club m. Music and Culture Club n. Gymnastic Club o. BSM Aikido Club p. BSM Taekwondo Club
Entering the freedom to unite after the ratification of ILO Convention No. 87 of 1948 by the Government as well as the implementation of Law No. 21 of 2000 on Workers/Labor Union, the Bank guarantees freedom for employees through the establishment of workers union in BSM. In practice, since the establishment of BSM, the employees view workers union establishment has not been necessary yet in BSM. The absence of workers union in BSM is mainly due to the intelligence of management in maintaining the employees. Besides competitive benefit provided by the Company, BSM also encourages employment activity/community development. To support range of community activity, the Bank established BSM Club on November 1st, 2006. BSM Clob is a coordination forum for all of employees activity which previously autonomously carried under separated community. The employees community establishment on BSM Club forum are as follows: a) b) c) d)
Principally, the management does not only promote work ethic in acquiring income but also highly support interest based or hobby activity. The employees considers the importance in supporting the corporate function. Starting from marketing, public relation, operational, HR, finance to knowledge management functions. There were 2 benefits if the Company facilitates employees community:
Increasing employees bonding, mainly cross functional and unit employees. Directing employees passion and competency. Balancing work and life aspect. Supporting the Company’s performance both directly and indirectly.
The Company and employees community is integrated entity and are synergized to drive positive result both for the employees and the Company. In BSM, employees community receives full support from the management. The support takes form as facility, activity fund and management direct participation on employees community activity.
Under BSM Club, there are several active communities, as follows:
PT Bank Syariah Mandiri
275
a. The employee will be happy because feeling humanized and allowed to actualize its humanity aspect. b. The Company is benefited if the employees able to assist the management’s function.
Most of the employees community appear promoted by the employees’ initiative. Therefore, the employee community will bring greater benefit if carrying the corporate brand. That the corporate brand value needs to be internalized in every individual of the community to not only being the hobby forum but also will be able to boost the corporate image and support employees competency development. Moreover, will also maintain balance between work and life aspect.
Annual Report 2013
CORPORATE SOCIAL RESPONSIBILITY home, training to develop expertise and skill, choir group and health gymnastic for member of Karissma.
3. KARISSMA KARISSMA is acronym of Ikatan Istri Karyawan Syariah Mandiri. The BSM employee wife organization is established simultaneously with Bank Syariah Mandiri 6th Anniversary on November 1st, 2005.
4. BSM Fellowship Program
Karissma is a non-formal organization under BSM Club. Karissma is a forum for Bank BSM employee wife. Karissma is also dedicated as gathering forum to know each other that will create sound and harmonious family bonding. Karissma management is at Head Office level and branch office all over Indonesia.
BSM Fellowship Program is BSM employee orphan scholarship program for dedicated for children of passed-away BSM employees. The scholarship is disbursed starting from elementary school to university levels. The scholarship is expected to raise employees ownership in working at BSM. Presently, total BSM employee orphans which had received the scholarship amounting to 27 children with detail as follows: a. a) Elementary School (SD) 7 students. b) Junior High School (SMP) 5 students. c) High School (SMA) 8 students. d) University 7 students.
Karissma existence on its activity is expected to be an inspiration and couraging factor in supporting their husband’s career. Karissma has several activities namely on Religious, Social Welfare, Human Capital Development and Art & Sport. The activities which had bene carried such as monthly recital, visit to orphanage and nursing
Table of BSM Fellowship Program Scholarship Recipient Anak Yatim dan/atau Piatu dari Pegawai atau Pensiunan Bank yang meninggal dunia. Scholarship Level • Junior High Schiol (SLTP); • University (PT).
• E lementary School (SD); • High School (SLTA); Scholarship Period • Elemntary School;max. 6 years • High School; max: 3 years
• Junior High School; max: 3 years • University; max: 8 years
Type of Sponsorship • School/University Admission Fee • Book expense; •
• Monthly/semester enrollment fee • Other mandatory expenses.
Scholarship Requirement • Listed on BSM Database • Filling the registration form • Not currently working or married
Annual Report 2013
• Participating and passing administration test • Signing the scholarship program agreement
276
PT Bank Syariah Mandiri
D. CSR Related with Responsibility to Customers
3. Customer Engagement Program
The Bank always prioritizes customers satisfaction by delivering best service. The Bank does not only sell secure and beneficiary banking product for the society but also provides maximum protection for the customers (product responsibility). The Company’s commitment in protecting the customers is including: Customers Deposit Guarantee,
a. Sahabat BSM (Customer Get Customer) b. BSM Fantasi (Direct Prize) c. BSM Gebyar (Customer Gathering with Fun Bicycle, Fun Walk and Fund Gymnastic) d. BSM Direct Selling (Outlet opening in strategic point) e. Priority Gathering (Priority Customer Gathering) f. Customer Visit through Head Office employee visit to major depositor or institution in Branch Office.
1. Customer’s Deposit Guarantee
Customers’ trust to banking industry is a key to maintain banking system. The trust is grew under legal assurance on the bank’s management, monitoring and customers deposit guarantee as regulated under Law No. 24 of 2004 on Depist Guarantor Agency (LPS), BSM provides security assurance on the fund deposited by the customers on Deposit Gurantor Agency (LPS).
4. Customers Complaints Settlement Mechanism
2. Customer Care
Other activities which are involving the customers on service quality improvement, among others:
The Bank has established customer care center. The customer care center is can be accessed by the customers using several channels, as follows: a. 24 hours Syariah Mandiri Call Center by dialing 14040 or (021) 29534040. b. Email:
[email protected]. c. Customer service located at nearest branch office.
Through the customer care, the Bank gives fast response on any received complaints and wise settlement. a. BSM has established Service Quality Management & Customer Care (SQM & CC) Division focusing in handling and following-up customers complaints. The customers complaint is delivered to all branch office by filling inquiry/ customers complaints form which is regulated separately on the Bank’s internal regulation or the customers may also deliver complaint through BSM Call. b. Customers complaints follow-up mechanism: 1) The customer may deliver complaint through branch office or BSM Call 14040.
PT Bank Syariah Mandiri
277
Annual Report 2013
CORPORATE SOCIAL RESPONSIBILITY 2) BSM Branch Office or BSM Call will process the delivered customer complaint on Complaint Managemnet System (CMS). 3) Data registered on the CMS will be monitored and followed-up by Customer Care unit in SQM & CC Division. 4) Information/answer from the related working unit will be delivered to the complaint recipient (Branch or BSM Call). 5) Complaing recipient will send the complaints information/answer to the customers. 6) Compalint recipient will change the complaint status on CMS as “completed.
5. Service Quality Improvement Program
To improve service quality improvement provided to the customers, the Bank performs several programs as follows: a. Recent service manual preparation based on customers demand and expectation. b. Service Quality Assurance (SQA) activity implementation consistently in Branch Office, as follows:
c. Customer complaint settlement level in 2013 is as follows:
- Communication Forum, minimum once a month,
- Role Play, minimum three times a week,
- Morning Briefing, minimum once a week
c.
Service Champion Officer (SCO) forum as counseling for Branch Office SCO Officer which is in charge in implementing service standard in Branch Office.
Customers Complaints Settlement Level 2013 Quarter
Total Complaints
Quarter 1 Quarter 2 Quarter 3
Received 2.781 2.901 4.039
Quarter 4 Total
3.807 13.528
Annual Report 2013
Settled 2.781 2.901 4.039 3.181 12.902
278
% Settlement Achievement 100% 100% 100% 83.55% 95.37%
PT Bank Syariah Mandiri
d. Partnership with service quality assessor consultant, Marketing Research Indonesia (MRI), e. Improvement on Security service procurement partnership in the Company, f.
Manual and Service tools improvement namely: branch service manual pocket book, branch physical aspect manual, account opening application form simplification, and recording Complaint Handling service manual book service standard video, product sales kit and CS and Teller transaction script formulation.
PT Bank Syariah Mandiri
279
g. Customer complaints registration application development on Complaint Management System (CMS). h. Involving BSM Call as customer complaint channel through telephone and email. i.
Improving frontliner competency through: CS and Teller certification, excellent service training, Service Leadership Training and Security Forum.
Annual Report 2013
INTERNAL AUDIT SYSTEM
As part of Good Corporate Governance (GCG) principle, BSM integrative and continuously develops and implements effective internal audit system in mitigating corporate risk
Annual Report 2013
280
PT Bank Syariah Mandiri
Budaya Sumatera Central Kalimantan Barat - Seni- Kerajinan Daya authentic Miniatur Bamboo Rumah Gadang artwork
PT Bank Syariah Mandiri
281
Annual Report 2013
INTERNAL AUDIT SYSTEM
I
nternal audit system is a mechanism designed to mitigate uncertainty risk in the future, securing corporate assets, encouraging efficiency and assisting on management’s policy compliance which has been determined on going basis. BSM through Internal Audit Division keeps developing and implementing effective internal audit system in building integrated risk management as part of Good Corporate Governance (GCG) program implementation.
A. Bank Internal Audit System Internal Audit System in BSM is determined by the Board of Directors under the Board of Commissioners approval and carried to meet following purposes: 1. Increasing effectiveness and efficiency on assets and other resources utilizations as well as preserving the Bank from loss risk due to fraud event. 2) Providing accurate, comprehensive, timely and relevant information to take right decision which can be taken into responsibility, including financial and non-financial report required by internal and external parties of the Bank. 3) Providing reasonable assurance that every business activity of the Bank has been carried in compliance with prevailing Law and Regulation, both the regulation issued by Government, Banking Supervisory Authority or the Bank’s internal policy, provision and procedure.
Internal Audit Report
As part of a process carried by entire Bank’s management, Internal Audit System is designed to identify any possibility of particular event occurrence which may affect the Company and to mitigate the risk to be under risk appetite, to provide adequate assurance in accelerating the corporate objective realization. In evaluating internal audit system effectiveness, BSM applies 8 COSO – ERM Framework components which are Internal Environment, Objective Setting, Event Identification, Risk Assessment, Risk Response, Control Activities, Information and Communication System and Monitoring Activities.
Annual Report 2013
282
PT Bank Syariah Mandiri
B. Internal Audit Working Vision and Mission
E. Internal Audit Function
1. Vision:
To become International Standard and Sharia-based Strategic Partner.
1. Assurance Carrying objective evaluation on certain evident to drive independent assessment on governance, risk management and control process inside the organization. 2. Consulting Providing constructive and applicable added-value recommendation on every aspect which affects internal audit performance and system.
2. Mision: a) Assisting the organization to achieve target by providing reasonable assurance as well as independent and objective consulting. b. Evaluating effectiveness of internal control, risk management and governance process through Risk Based Audit Implementation. c. Ensuring sharia aspect implementation through on going audit activity. d. Managing Internal Audit activity effectively and efficiently. e. Developing Auditor competency by referring to audit professional best practice.
C. Internal Audit Charter
BSM has an Internal audit Charter applied as principals in regulating position, authority and responsibility as well as working method in carrying internal auditor duty to establish effective internal audit system in BSM.
Internal audit function is periodically reviewed by external party at least once in every 3 years to ensure that internal audit function implementation has complied with Commercial Banks Internal Audit Function Standard Operating Procedure and professional Standard issued by The Institute of Internal Auditors (IIA).
F. Auditor Professional Responsibility 1. Managing internal audit and reporting audit activity to President Director and Board of Commissioners with notification to Compliance Director. 2. Planning and executing audit activity by focusing on high risk sector/activity and evaluating existing system procedure/control effectiveness to generate assurance that the Bank’s purpose and objective will be optimally achieved. 3. Disclosing audit report, to:
In 2013, BSM conducted several updates on existing Internal Audit Charter to be more in line with audit professional standard and best practice.
D. Objectives of Internal Audit Internal Audit aimed to: 1. Assisting every management’s action in securing the bank’s operational activity which involves public fund; 2. Preserving and assuring bank’s growth towards fair and sound growth direction.
PT Bank Syariah Mandiri
Internal audit function is in charge to assist the President Director and Board of Commissioners in carrying audit on the Bank’s operational planning, execution and monitoring activity by providing assurance and consultancy support.
a. President Director, Board of Commissioners with notification to Compliance Director. If there is any event with material or significant impact for the Bank the latest 7 (seven) days after the audit finding, to deliver respective information to the President Director and Board of Commissioners through Audit Committee.
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Annual Report 2013
INTERNAL AUDIT SYSTEM G. Internal Audit Organization Structure
b. Regarding audit practice and principals result including confidential audit result, the latest 2 (two) months after reporting month, signed by President Director and President Commissioner. The audit report disclosure to third party will only be presented under written proposal which has been approved by President Director. 4. Audit result action plan recommendation monitoring. 5. Carrying audit activity coordination with external auditor. 6. Developing and executing program to evaluate and improve internal audit quality.
Internal Audit is supervised by a Division Head who is appointed and dismissed by President Director under Board of Commissioners approval.
In carrying its duty, Division Head is assisted by Deputy Division Head and 5 Department Head as illustrated on following organization structure:
Internal Audit Division and Anti Fraud
IAD Organization Structure
Team Leader Auditor Analis Anti Fraud
Head Deputy Division
Monitoring & Audit Development
Special Audit
General Audit
IT Audit
Audit Development
Team Leader Special Auditor
Team Leader General Auditor
Team Leader IT Auditor
Quality Assurance (AMI) Team Leader Monitoring Auditor Team Leader External Audit Liaison
MIS & Audit Support MIS Kesekretariatan
Source: Nota Bersama No. 14/184-2/|DKN, 14/139-2/DAI, 14/154A-2/DMR, 14/019-2/DSP, 14/724-2/DHC, 14/068-2/DPM, 14/028-2/TPMO date Mei 2, 2012.
Annual Report 2013
284
PT Bank Syariah Mandiri
H. Internal Audit Position on Corporate Structure
Certification Risk Management (BSMR/LSPP)
In carrying monitoring function to realize the bank’s vision and mission, Internal Audit Unit is acted through Audit Committee. Internal Audit is supervised by a Division Head who is appointed and dismissed by President Director of the Bank under Board of Commissioners approval and reported to Banking Supervisor Authority. Position of IAD Head on the corporate organization is directly under and responsible to President Director that still able to directly communicate with the Board of Commissioners through Audit Committee to inform several aspects related with audit. IAD position is to preserve independency and objectiveness that will able to disclose opinion and perspective without any intervention or pressure from other parties.
73
Certified Internal Auditor (CIA)
2
Certified Fraud Examiner (CFE)
3
Total
78
IAU HR development program carried in 2013 were namely: Risk based Audit and Continuous Auditing, IT & Operational Auditing, Communication Skill for Auditor, Becoming Strategic Leader, Developing Successful Business Strategy to Planning Great Execution Forum, IAIB 5th National Conference, IDEA Script Course, CBS Financing Qardh and Managing People Workshops.
J. Description of internal Audit Unit Duty Implementation
I. Resource and Development In carrying its function, IAD is supported by 86 personnel consists of 1 Division Head, 1 Deputy Division Head, 5 Department Head, 21 Team Leader, 52 Auditors and 2 Secretaries. Auditor competency development is carried namely through participation on certification program both National or International scope, trainings bot internal and external and participated from Division Head to Auditor level to develop audit process quality efficiency and effectiveness. Pursuant to Internal Audit Charter, training standard per Auditor has been set for minimum 180 hours per 3 years (60 hours per year). Throughout 2013, Internal Audit Unit had held training with average training hours per auditor was 66 hours or 110% from 60 years training hours per year target. Number of personnel who has obtained National and International certification as of 2013 are as follows:
PT Bank Syariah Mandiri
Total
285
In responding main priority and the Bank Working Program for 2013 period, IAU formulates a theme in preparing audit plan and activity, that the audit result is expected to be more focused and accurate. The theme was “Repositioning Internal Audit Function,” preferred as an initiative to perform re-introspection on audit role and function based on prevailing law and best practice. This is in line with stakeholders expectation where the Internal Audit is expected to have more optimized function not only on assurance but also on consulting function. Selected audit approach was based on top risk selection both for regular or thematic audit. Entire audit planning is directed to guide Bank Working Program and Main Priority Realization for 2013 period. By concerning aforementioned conditions, working unit audit in 2013 included regular and thematic audit assignment carrying the theme: Network Opening, iBSM conversion and implementation, Financing Products (implant financing, cooperatives, Small Financing as well as Program and Micro Financing, Corporate and Commercial Financing collectability and Restructuring, comprehensively as follows :
Annual Report 2013
INTERNAL AUDIT SYSTEM 1. Regular Audit Regular audit is audit activity which is systematically planned at the beginning of current year with priority determination throughout risk-assessment process determined through Risk Based Audit (RBA) methodology, both regular audit for General Audit (GA) section or IT Audit. GA regular audit is carried on “high,” “medium to high,” and “mandatory,” categorized unit, while, IT audit will focus on RTGS, SKN and IT Governance sectors where RTGS and SKN are mandated by the regulator. GA assignment realization in 2013 was 151 assignments and 23 IT assignments.
action monitoring on the audit result is strictly monitored to ensure that every issue has been settled and the risk has been mitigated.
K. Fraud Monitoring and Corrective Action
1. Ensuring monitoring function has been clearly implemented and well-structured. 2. Appointing assigned executives to monitor internal audit effectiveness. 3. Determining the right frequency to carry monitoring activity. 4. Integrating audit system into operational activity and providing necessary periodic reports. 5. Reviewing evaluation result from unit/employee assigned to conduct audit activity. 6. Providing accurate information/feed back to interested party.
2. Thematic and Head Office Audit Current BSM business is more varied and complex indicated from numbers of products (business segmentation) had and activities carried. Therefore, IAU views the urgency to perform internal control adequacy assessment based on respective product or activity as a method to cover existing risk. Thematic audit carried end to end on a product or activity, which implementation may involve several units, either Head or Branch office. Thematic audit realization which had been completed in 2013 consisted of: Network Opening Audit, Micro Loan Financing Audit, Restructure Financing Audit and Collectability Execution Review Audit .
The Bank has continues monitoring on internal audit practice adequacy and effectiveness throughout:
Total Internal Fraud Case
Internal Fraud is a violation committed by management, permanent and non-permanent (honorary and outsourced) employees related with working process and operational activity which significantly affects BSm financial condition or fraud exceeding Rp100,000,000 (one million rupiah) value.
3. Special Audit Special Audit is an audit activity which prior did not included on annual planning yet conducted based on certain concern or due to stakeholders’ request. Special audit also analyzes red flag, fraud risk indicators and fraud indications investigation. Audit result on Internal Audit system implementation has been utilized as a corrective evaluation on policy, infrastructure and HR Management aspects. Corrective
Annual Report 2013
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Number of Cases Internal Fraud
Board of Commissioners and Board of Directors
Permanent Employee
Non-Permanent Employee
2012
2013
2012
2013
2012
2013
Total fraud
0
0
12
29
0
5
Settled
0
0
11
27
0
4
Under Settlement Process at BSM Internal
0
0
0
2
0
1
Has not been handled
0
0
0
0
0
0
Under legal process
0
0
0
1
0
0
L. Curriculum Vitae Head of SKAI
Indonesian citizen born in Yogyakarta on May 31, 1971. Graduated from Faculty of Economy majoring Accounting from STIE YKPN, Yogyakarta in 1994. Mardiana, SE, QIA, CFE Career History
Participated Trainings • Certified Fraud Examiner (CFE) • Investigation Audit, 2012 • International Banking Convention2012 • International Internal Control Conference 2012 • Assessor For Auditor 2012 • Great Leader Program PhaseIII, 2011 • Workshop 4DX Direktorat Internal Audit, 2011 • PSAK 50 & 55 Training in 2010 • ISO 9001:2008, tahun 2009 • Operation Risk Management, 2008 • Level 1 to III Risk Management Certification, 2007 • Disclosure & Investigation Method Workshop, 2007 • Risk Based Audit, 2005 • Fraud Prevention & Investigation,2004 • Audit Control for End User,2003 • Qualified Internal Auditor
• Head of Internal Audit Division (Audit Intern Unit) - BSM • Audit Manager Audit Development & Advisory – PT Bank Mandiri (Persero) Tbk. (BM) • Head of Quality Assurance & Mgt. Representative Dept. – PT Bank Mandiri (Persero) Tbk. (BM) • Head of Quality Assurance – PT Bank Mandiri (Persero) Tbk. (BM) • Team Leader Quality Assurance – PT Bank Mandiri (Persero) Tbk. (BM)
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RISK MANAGEMENT
Financing and credit risk management process in BSM is carried end to end from front-end, middle-end to backend process supported with integrated system. The implementation is applying Three Pillars conceptcarried by Business Unit, Risk Assessment Financign Unit and Financing Operation Unit
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Papua - Asmat sculpture artwork
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RISK MANAGEMENT 1. Organization and Human Resource
a. b. c. d.
A. Principles of Risk Management Practice
BSM implements integrated risk management upholding prudential principle. This is aimed to achieve sound and sustainable growth and to optimize risk-adjusted return level.
The Bank mitigates risks throughout risk identification, measurement, monitoring and mitigation affected business, operational and organizational aspects. To support risk management implementation, BSM has prepared set of policies, process, competency, accountability, reporting and supporting technology.
In implementing risk governance, BSM applies Enterprise Risk Management (ERM) approach. The ERM implementation will provide added-value both for the Bank and stakeholders mainly related with Risk Based Performance).
The Bank implements ERM under two prong approaches comprising of risk management by capital and risk management by operational activity, that the Bank will be able to mitigate inherent risk on its business activity. Four main supporting components on this two prong approaches are Organization & Human Resources, Policy & Procedure, System & Data and Metholody/ Model & Analytics. ERM implementation is expected to boost BSM growth that will generate added0value for the stakeholders
Risk Monitoring Committee Risk Management Committee Risk Management Director Risk Management Unit
The Bank established Risk Monitoring Committee (KPR) which is in charge to provide recommendation on risk management strategy improvement and implementation to the Board of Commisisoners.
The Risk Management Committee (KMR) is in charge to recommend risk management policy direction and strategy, and to discuss every risk aspects faced by the Bank. Members of KMR are Board of Directors and Executive Officers. KMR is assisted by Working Group (WG) comprising of Assets Liabilities Management (ALMA) WG and Financing and Operational WG. WG is in charge to conduct risk review and provides recommendation related with business condition faced by the Bank.
Risk Management Unit (SKMR) is a unit which is directly responsible to Risk Management Director. The Bank continuously evaluates organization structure and business process to support the Bank’s business growth.
BSM’s achievement in carrying risk management function is supported by adequate risk awareness and competency in entire unit at BSM. On the other hand, BSM also seeks to develop employees competency by conducting several certifications, socializations, discussion forum, internship, or other related program in risk management aspect in line with corporate culture internalization program
.
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Annual Report 2013
Risk management organization in BSM is an organ established to assist and facilitate risk management practice in entire line of the Company. The organization comprises of:
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BSM took part as one of speakers at Sharia Banking Risk Management Certification Module Preparation Workshop held by Asbisindo on February 1, 2013. This active participation became on of BSM commitment realization to encourage sharia banking to have sound growth.
2. Policy, Procedure, Limit and Tools
Policy and procedure applied in BSM is an actualization of risk management attached on the Bank’s operational activitiy which is periodically reviewed. BSM owns Risk Management Policy as primary reference on risk management implementation, the Bank also has distinct policy and procedure such as policy on financing, operational and treasury activities.
In 2013, the Bank renewed policy, procedure and tools related with risk management implementation, as follows:
a. Policy and Procedure
DRelated with Good Corporate Governance (GCG) and Risk Management implementation, the Bank arranged procedural structure by designing BSM Policy and Procedure Architecture. The BSM Policy and Procedure Architecture was authorized by Board of Directors on August 24, 2011 with hierarchy as follows:
1) Internal audit system policy; 2) Compliance policy; 3) Core Banking System (CBS) Contingency Plan; 4) Customers data confidentiality related with data inquiry from third party; 5) Priority Banking management; 6) Good Corporate Governance practice;
BSM Policy and Procedure Architecture Hiearchy
Charter
Policy Procedure Values:
GCG ETHIC CoC Business Ethic
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RISK MANAGEMENT
b. Limit and Tools Determination To comprehensively mitigate the risks as well as that the risk management to conform with current equity, the Bank determines limit and tool, as follows:
1) 2) 3) 4) 5) 6) 7) 8) 9) 10) 11) 12) 13) 14) 15) 16) 17)
Financing approval authority limit; 25 Major debtors exposure limit; Legal Lending Limit inhouse Limit; Financing portfolio limit for economy sector & certain sub-sector; Financing in Foreign Currency portfolio limit; Financing product limit; Collateral limit; Treasury transaction limit; Cash balance limit; Operational transaction limit; Minimum Statutory Reserves limit; Net Open Position limit; Secondary reserve limit; Gold pawning financing per individual limit; Economy sector rating for financing; Credit scoring on consumer, micro and small financing; Corporate rating
4. Methodology/Model and Analysis
3. System and Data
BSM develops and manages risk management system to accelerate more efficient business process which remains upholding prudential banking principle. BSM implements Risk Management Information System (SIMRIS) and Operational Risk Management Information System (ORMIS) which are functioned as:
a. b. c.
BSM conducts periodic risk assessment by implementing certain methods both set by the regulator and international best practices. Result of risk models measurement is used as supporting consideration on decision making process. Risk model which has been developed through qualitative and qantiative methods are financing scoring, Value at Risk (VaR) model, rating, management portfolio, stress test, liquidity gap and repricing gap. The risk models are periodically evaluated and caliberated by independent risk model validator. This aims to preserve model validity and reliability, as well as to comply with the regulations.
A.1. Risk Management by Capital
Operational risk event identification and monitoring tool; Early warning system on operational risk; Operational risk loss database.
Annual Report 2013
BSM in cooperation with Bank Mandiri strengthened risk management system through Debtor Information Pooling (PID) system application to acknowledge particular information from the debtors on Mandiri Group, Integrated Central Liabilities System (ICLS) and Risk Profile Mandiri System (RPX). Particularly on financing sector, BSM implements Financing Origination System (FOS) for consumer and micro segment to enhance financing process efficiency and maintain data quality.
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Risk management by capital is aimed to ensure the Bank has adequate capital to cever credit risk, market risk and operational risk, both on normal and stress condition. BSM conducts capital adequacy calculation for credit risk, market risk and operational risk, as follows:
PT Bank Syariah Mandiri
1. Credit risk using Standardized Approach . 2. Market risk using Standard Model, while internally, the Bank has applied Value at Risk as Itnernal Amodel. 3. Operational risk refers to Basel II Basic Indicator Approach.
A.2. Risk Management by Operational Activity
Risk management on operational activity aims to manage risk in daily business activity to be better implemented and not exceeding determined risk tolerance. In mitigating credit risk on financing process is carried by strengthening finacning end to end process infrastructure. Market risk mitigation is carried under limit system namely through treasury transaction limit, Minimum Statutory Reserves Limit, Net Open Position, Secondary Reserve Limit and Gold Pawning Financing per Individual Limit. Reversely, operating risk mitigation is carried applying Operational Risk Management System (ORMIS), Risk and Control Self-Assessment (RCSA) and Lost Event Database (LED) 1. Credit Risk Mitigation
Credit Risk in BSM is coming from financing disbursement, placement with securities and other banks, sales to customers and trading activities. Credit risk is also generated from commitment and contingency transaction from the customers and counterparty.
Credit risk mitigation in the Bank is mostly directed to build balance between sound credit expansion and prudent credit management to prevent quality declining or Non-Performing Financing (NPF) event, as well as to manage capital allocation to acquire optimum return.
PT Bank Syariah Mandiri
Financing process and credit risk management in BSM is carried end-to-end from process at front-end, middle-end to back-end supported by integrated system. The implementation process is carried by Business Unit, Financing Operation Unit and Risk Assessment Financing Unit. The three pillars concept is an implementation of integrated financing process and credit risk management.
a.
Credit Risk Policy, Procedure and Tools
The Bank has Bank Syariah Mandiri (KPBSM) Financing Policy, Standard Operating Procedure (SOP) for financing per business segment. The regulation acts as credit risk management guideline including target market determination, analysis, approval, documentation, financing disbursement, monitoring, and non-performing financing handling.
The Bank reviews and develops credit risk policy, procedure and tools periodically to anticipate external and internal risk. The review and development activities are including: 1) Financing policy and Securities investment policy; 2) Financing Standard Operating Procedure for every segment; 3) Financing approval authority limit; 4) Financing price based on risk based pricing principle; 5) Consumer and micro financing credit scoring; 6) Portfolio guideline comprising of portfolio limit, Risk Acceptance Criteria (RACT) and industry sector rating. 7) Corporate and commercial financing credit rating.
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8) Business process through 3 pillars implementation on financing process such are function segregation among marketing, underwriting and operation. 9) Four eyes principle on small segment financing throughout: a) Small financing credit scoring development; b) Verificator function establishment to ensure customers business feasibility. 10) Branch function in mitigating corporate financing; 11) Commercial and corporate financing organization based on industry focus. 12) Monitoring unit at financing business unit. 13) Micro and Consumer financing collection systems
The Bank implements guideline portfolio through limit and RAC determination for following financing portfolio: 1) Top 25 debtors financing; b) Cooperative consumer financing for the members; c) Foreign currency financing; d) Financing under committed investment collateral (mudharabah muqayyadah) e) Mortgaeg f) Telecommunication financing; g) Gas financing; h) Multifinance; i) Palm Oil Plantation Financing; j) Coal Mining Financing; k) Oil Fuel distribution Financing; l) Medical Care financing; m) Sea Transportation Financing; n) Retail Trading Financing; o) Food Plantation Financing; p) Eletricity Financing.
Annual Report 2013
b.
Financing Approval Process
Financing approval is taken through four eyes principle involving minimum 2 (two) financing approval authority functions from Business Unit and Risk Management.
Before granting approval, the Bank conducted risk identification and measurement by applying Rating and Scoring System for certain segments. Rating and Scoring System consists of Financing Risk Rating (FRR), Consumer Scoring, Micro Banking Scoring and LKMS (Micro Sharia Financial Institution). The Bank develops Small Business Scoring and BSM Rating System to improve rapid and prudent financing analysis process.
Financing process son micro and consumer segment is carried end-to-end through Financing Origination System (FOS). Meanwhile, on small, commercial,and corporate, financing adequacy analysis is carried applying portfolio guideline and FRR tools. As a corrective effort and to strengthensmall, commercial and corporate segment, the Bank develops small financing Financing Origination System (FOS) and Rating system for commercial and corporate financing.
c. Financing Monitoring
The Bank monitors and maintains financing portfolio quality by performing: 1) Financing portfoilio quality trend monitoring based on business segment, industrial segment and financing scheme. Financing monitoring carried under four eyes principle between business unit and risk assessment; 2) Stress test on financing portfolio, including:
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a. Monitoring the Bank’s compliance on several limits such as Net Open Position (PDN) limit as of December 31, 2013, PDN ratio reached to 3.69% or not exceeding limit set by Bank Indonesia to 20%. The Bank reviews limit periodically or under significant condition shifting. b) Measuring Value at Risk due to exchange rate shifting applying daily Variance Covariance model. Maximum currency rate volatility projection applies Exponential Weighted Moving Average (EWMA) model with confidence level 99%. c) Conducting market risk stress test on securities measured at fair value and foreign currency periodically. Stress test applies gain from market and currency rate shifting scenario.
a) Stress test on macroeconomy and industry situation/condition by conducting global financial crisis simulation for 2013. To acknowledge impact on financing quality, the Bank applies stress test scenario such as decrease in export and import as well as GDP. Result of the stress test indicates that the scenario fails to provide significant impact on the Bank’s financing quality degradation potential. b) Stress test on macroeconomy and industry situation/condition by carrying simulation on Oil Fuel price rising in 2013. The Bank applied stress test scenario such as stress test scenario such as increase in inflation and production ost. Stress test result indicated that the scenario provided less significant impact on the Bank’s financing portfolio quality. c) Stress test on gold decreasing price risk (gold rahn financing management)
2. Market Risk Mitigation
Markekt Risk faced by BSM is a risk on balance sheet and off-balance sheet position due to market risk shifting such as price shifting on assets available to be traded or leased. The Bank faced market risk on portfolio of trading and foreign currency securities.
Market risk mitigation refers to Market Risk Management Policy, Securities Investment Policy, Securities Investment Standard Operating Procedure and other related regulations. The Bank mitigates market risk throughout:
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3. Liquidity Risk Mitigation
The Bank’s liquidity is affected by funding structure, asets liquidity and financing commitment with the debtors, referring to Risk Management Policy, the Fund Management Guideline and other related regulations. The Bank mitigates liquidity risk through following activities: a) Monitoring the bank’s compliance against liquidity risk limit such as Minimum Statutory Reserves, Secondary Reserves, Large Exposures and maximum cash balance. As of December 31, 2013, secondary reserve ratio was 11.73% or complying with internal limit regulation minimum at 5% from average Deposit. On the other hand, Minimum Statutory Reserves in Rupiah was 5.27% and Foreign Currency at 14.66% or complying with internal limit regulation minimum at 5.04% (Rupiah) and 1% (Foreign Currency).
Annual Report 2013
RISK MANAGEMENT The Bank has implemented web-based software such as Operational Risk Management Information System (ORMIS) to mitigate operational risk management. ORMIS is used as:
b) Placing fund with financial instrument with financial instrument and other current financial instruments as the Bank’s liquidity reserves. SBIS Realization, Reverse Repo and FASBIS as of December 31, 2013 was Rp5,917 billion. c) Measuring liquidity adequacy through cashflow and liquidity gap projection calculation periodically. Therefore, the bank will address liquidity accurately and efficiently based on needs. d) Maintaining the Bank’s access to intersharia bank money market by acquiring and providing credit line from and for other banks. e) Monitoring liquidity risk namely through financing ratio monitoring on deposits, interbank liabilities ratio and cash flow to deposit ratio. f) Conducting liquidity risk stress test on liquidity risk periodically. Stress test is carried to estimate liquidity cost which has to be expensed during the crisis condition.
a) Operational Risk event identification and monitoring Tools; b) Operational risk potential early warning system; c) Loss Event Database (LED). The Bank has established Operational Risk Management & Risk Based Audit alliance team to outline branch operational risk profile by applying namely Risk and Control Self-Assessment (RCSA). The Bank continuously develops and improves operational risk tools by coordinating with Bank Mandiri as holding. b. Limit Management The Bank mitigates operational risk namely through limit management to support the bank’s business soperational prudently. The limit management is realized namely throughout transaction limit, net banking limit and ATM limit.
4. Operational Risk Mitigation
Internal process, system, human and external event is several factors which enacouraged operational risk (event). The event was potentially encouraged loss impact both financially and non-financially. Therefore, the Bank has to mitigate operational risk that the operational ctivity will be appropriately monitored and mitigated.
The Bank continuously monitors and updates limit stipulation adequacy periodically by considering the bank’s business complexity intensifying and external condition shifting.
a. Operational Risk Tools Implementation c. Information Technology (IT) Risk Management Implementation
The Bank has developed operational risk tools including: Risk and Control Self Assessment (RCSA), Key Risk Indicator (KRI) and Loss Event Database (LED).
Annual Report 2013
The Bank applies Information Technology (IT) risk management to maintain and secure IT system operational. IT risk management implementation in the Bank is namely conducted through system
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The Bank has reviewed DRP periodically to ensure back-up IT system readiness. Throughout 2013, the Bank conducted one time DRP trial.
development design and User Acceptance Test (UAT). Therefore, the Bank will be able to identify and exercise several identified weaknesses.
f. Implementasi program risk culture
The Bank has also developed information technology utilization and application policy and procedure such as Information Technology Risk Management Policy (KMRTI), Contingency Plan – Core Banking System (CBS) and Core Banking System Standard Operating Manual.
In 2013, the Bank developed Risk Culture program. The risk culture program implementation is namely aimed to raise employees awareness on potential risk faced in carrying their activity. The Bank has implemented risk culture program on risk identification and mitigation activity pillars, risk forum for risk management, refreshment and training to improve employees competency.
d. Operational Risk Capital Adequacy Calculation Bank Indonesia has not obligated sharia banking to allocate capital for operational risk. Therefore, the Bank has calculated capital expense to cover operational risk. In carrying operational risk capital adequacy calculation, the Bank applies Basic Indicator Approach (BIA) method. Moreover, the Bank also continuously develops aforementioned operational risk capital adequacy calculation.
Besides four mentioned risks, the Bank manages other risks comprising of legal, reputation, strategic and compliance risks. The risk management I carried through Operational Risk Management Committee or directly managed by particular unit such as Corporate Secretary Division and Legal Division.
e. Business Continuity Management (BCM)
5. Risk Profile
The Bank is exposed by operational risk as disruption/disaster which may disrupt or even disable part of or entire operational of the bank. Disaster will occur due to internal factor (IT system disruption/failure) or external factor (such as natural disaster, fire). To maintain the Bank’s operational continuity even under emergency circumstances, the Bank has implemented BSCM which contains Business Continuity Plan (BCP) and Disaster Recovery Plan (DRP) Manual.
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Risk profile assessment is aimed to provide information to all stakeholders regarding current business risk condition faced by the Bank. The risk profile includes inherent risk and risk management implementation quality effectiveness. Inherent risk assessment refers to inherent risk assessment on the Bank’s business activity, through quantative analysis on particular indicators. The bank conducts risk management implementation quality assessment which reflects risk management system adequacy assessment. The assessment is conducted by self-assessment with qualitative
Annual Report 2013
RISK MANAGEMENT analysis against four assessment indicators including Board of Commissioners and Board of Directors active monitoring, adequacy of limit policy, procedure and stipulation, risk identification, measurement, monitoring and mitigation process as well as risk management information and comprehensive internal control system.
Based on risk profile as of December 2013, composite risk predicate was Low to Moderate with inherent risk rating Moderate and risk management implementation quality was Satisfactory.
Risk profile assessment in the Bank is carried by Risk Management Division and addressed to the Board of Directors and Board of Commissioners in monthly basis as well as to Bank Indonesia in quarterly basis.
Result of assessment on each risk type carried as end of 2013:
The Bank Risk Predicate
Assessment as of December 2012 Position No.
Risk Type
Inherent Risk Level
Penilaian Posisi Desember 2012
Risk management implementation quality
Risk management implementation quality
Inerent Risk Level
1.
Credit
Moderate
Fair
Low to Moderate
Fair
2.
Market
Low
Satisfactory
Low
Satisfactory
3.
Liquidity
Low to Moderate
Satisfactory
Low to Moderate
Satisfactory
4.
Operational
Moderate
Fair
Moderate
Fair
5.
Legal
Moderate to High
Fair
Moderate
Fair
6.
Reputation
Low to Moderate
Fair
Low to Moderate
Fair
7.
Strategic
Moderate to High
Strong
Moderate to High
Strong
8.
Compliance
Low
Satisfactory
Low
Strong
Moderate
Satisfactory
Low to Moderate
Low to Moderate
Composite Bank Risk Predicate
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B. Risk Management with Holding Consolidation
To synergize risk management implementation between the bank and holding (Bank Mandiri), Bank Mandiri built risk management implementation consolidation. Risk management implementation consolidation with Bank Mandiri including the bank’s operational policy & procedure architecture, risk management tools, the Bank’s risk profile assessment, Risk Based Audit (RBA), Debtors Information Pooling (ICLS) and Risk Awareness Survey (RAWS).
5. Strengthening stress testing process Under notable concern on global and domestic uncertainty and related with risk management consolidation with the Bank’s holding in improving stress testing implementation. 6. Risk profile indicator development To build risk measurement sensitivy, both for the Bank’s internal interest and to consolidate the Bank with Holding, the Bank will conduct risk profile indicator evlaution .
C. Risk Management Development Plan
To support business growth and to anticipate macroeconomy condition shifting a well as to implement new regulation, the Bank will continuously develops risk management infrastructure and capability, namely including: 1. Developing risk culture program for every unit at Head Office and Branch Office adjusted with key inherent risk in respective unit. 2. Developing risk measurement tool such as credit scoring, credit rating, Financing Origination System (FOS) development, small financing, ORMI system development, financing process strengthening as well as market and liquidity risk information system. 3. Implementation of Consolidated Operational Risk Management System (CORSYS) which is consolidated operational risk management web application to be applied in preparing operational risk profile at Branch Office. 4. Strengthening the Bank’s end-to-end business process. The Bank reviewed risk management implementation effectiveness on its business by strengthening end-to-end process and indstructure. The business process strengthening is carried by concerning CorPlan recommendation, benchmarking result and result of internal process evaluation and BSM financing structure.
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COMPANY PROFILE
Executives Profile Office Networks
Laporan Tahunan 2013
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PT Bank Syariah Mandiri
West Java - Indramayu Banking Hall authentic - Bank Syariah mask artwork Mandiri
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Laporan Tahunan 2013
COMPANY DATA Micro Banking Directorate:
with BSM since 1999.
Andri Vendredi Head of Micro Banking & Hajj Division (MHD). Born in Bandung on April 12, 1968. Graduated from Faculty of Economy, Universitas Parahyangan. Joining with BSM since 2005.
Erick Lasac Pardede Head of Remittance Business & Transfer Division (RBD). Born in Sibolga on October 23, 1959. Graduated from Faculty of Civil Engineering, Univ. Trisakti in 1988 and Post-graduate (Master) from Faculty of Finance (Bussines Adminstration), Oklahoma City University in 1991. Joining with BSM since August 18, 2003
Rustanti Rachmi Head of Consumer Banking Division (CND). Born in Gombong on January 20, 1967. Graduated from Faculty of Mathematics and Schience, Universitas Indonesia in 1990. Joining with BSM since.
Executives Profile
Jefry Prayana Head of Pawning Division (PWD). Born in Medan on January 20, 1972. Graduated from Faculty of Mechanical Engineering, Institut Teknologi Bandung (ITB) in 1999 and Pst-graduate (Master Degree) from Faculty of Economy, majoring Islamic Middle-East Studies, Universitas Indonesia in 2007. Joining with BSM since 2000. Zul Ikbal Head of Alternate Channel Division (ALD). Born in Bukittinggi on December 9, 1964. Graduated from Faculty of Economy, Universitas Padjadjaran in 1988. Joining with BSM since 2009. Dewa Bagus Ivan Baruna Head of Retail Customer Management Division (RCD). Born in Denpasar on September 29, 1965. Graduated from Faculty of Engineering, Institut Sains dan Teknologi Nasional in 1990. Joining
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Network & Asset Management Directorate: Teguh Budi Santoso Head of Small Banking Division (SBD). Born in Nganjuk on May 1, 1964. Graduated from Bachelor Degree, Faculty of Agriculture, Universitas Sebelas Maret Surakarta. Joining with BSM since March 10, 2003. Sulistyo Budi Head of Financing Restructuring Division (RSD). Born in Jember on January 14, 1963. Graduated from Bachelor and Master Degree of Faculty of Agricultre, Institut Pertanian Bogor in 1985 and 2001. Joining with BSM since 2007. Dadang Hernawan Head of Financing Recovery Division (FRD) Born in Bandung on October 27, 1957. Graduated from Faculty of Law, Universitas Parahyangan Bandung in 1983. Joining with BSM since January 9, 2001. Agus Tri Widodo Head of Operation Division (OPD). Born in Solo on October 15,
PT Bank Syariah Mandiri
Silaturrahim sesama pegawai terus dipupuk dan ditingkatkan untuk menjaga teamwork dan semangat kerja melalui berbagai kegiatan kebersamaan yang terbuka untuk seluruh pegawai.
1959. Graduated from Informatic Management studies, STIMK, Jakarta in 1980. Completing Master of Information Technology, in 1998. Joining with BSM since 2010. Firman Jatnika Head of Network Division (NWD). Born in Jakarta on February 26, 1970. Graduated from Faculty of Economy, Universitas Padjadjaran in 1995 and Master of Economy from Universitas Indonesia in 2005. Joining with BSM since 1999.
Corporate Banking & Treasury Directorate: Siti Nurdiana Head of Corporate Banking Division (CRD). Born in Jakarta on December 16, 1966. Graduated from Faculty of Economy, Universitas Padjadjaran in 1991. Joining with BSM since BSM sejak tahun 1999. Anton Sukarna Head of Commercial Banking Division (CMD) Born in Bandung on November 24, 1970 Graduated from Faculty of Livestock, Institut
PT Bank Syariah Mandiri
Pertanian Bogor in 1994. Joining with BSM since November 1, 1999. Indra Falatehan Head of Special Financing Syndication Division (FSD). Born in Jakarta on March 3, 1978. Graduated from Faculty of Gas & Petrochemical Engineering, Universitas Indonesia in 2002. Joining with BSM since September 3, 2002. Tutuy Guntara Head of Treasury & International Banking Division (TID). Born in Ciamis on February 27, 1957. Graduated from Faculty of Forestry, Institut Pertanian Bogor in 1980. Joining with BSM since 1999. Subki Matsyah Head of Procurement & Services Division (PSD). Born in Aceh on September 1, 1964. Graduated from Faculty of Agriculture, Institut Pertanian Bogor in 1986. Joining with BSM since 2003. Taufik Machrus Head of Corporate Secretary Division (CSD). Born in Pasuruan on April 3, 1968. Graduated from Faculty of Economy, Universitas Airlangga in 1994. Joining with BSM since 2001.
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(foto) Employees unity is fostered and enhanced to maintain team work and working spirit under various gathering event for all emplyees.
Risk Management Directorate: M. Fanny Fansyuri Head of Risk Management Division (RMD). Born in Bandung on April 14, 1967. Graduated from Faculty of Economy, Universitas Padjadjaran in 1991. Joining with BSM since 1999. Roosita Abdullah Head of IT Strategic & Assurance Division (ISD). Born in Jakarta on April 7, 1961. Graduated from Faculty of Mathematics & Science, Universitas Indonesia in 1987 and professional course from Indonesia Banker Institute in 2000. Joining with BSM since 2002. Khoirul Huda S Riyadi Head of IT Operation Division (IOD). Born in Jakarta on October 6, 1975. Graduated from Faculty of
COMPANY DATA Agronomy, Institut Pertanian Bogor in 1999 and Post-Graduate (Master) from Magister Management, Universitas Budi Luhur in 2004. Joining with BSM since September 1, 2003. Musdar Ayub Head of Accounting Division (ACD). Born in Jakarta, October 23, 1962. Graduated from UPN Veteran, Jakarta in 1985. Joining with BSM since 1999. Ramadhona Fitri Head of Retail Micro and Small Risk Assessment Division (RAD). Born in Deli Serdang on March 3, 1961. Graduated from Faculty of Agriculture, Institut Pertanian Bogor in 1984. Joining with BSM since June 1, 2012. Asriel Hay Head of Commercial and Corporate Risk Assessment Division (CAD). Born in Jakarta on July 15, 1966. Graduated from Faculty of Marketing Management, Univ. Krisnadwipayana in 1991 and Post-Graduate (Master) from Faculty of Corporate Finance & Banking, Univ. Sriwijaya in 2001. Joining with BSM since June 1, 2012.
Compliance Directorate: Priyo Prakoso Head of Compliance Division (CPD). Born in Surabaya, East Java on March 20, 1959. Graduated from Faculty of Economy, Universitas Indonesia in 1987, obtaining Master of Business Administration from Case Western Reserve University Ohio in 1997. Joining with BSM since 1999.
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Muslihan Head of Policy & Procedure Division (PPD). Born in Pati on October 18, 1959. Graduated from Sekolah Tinggi Ilmu Ekonomi Jakarta majoring Accounting in 1999. Joining with BSM since 2001. Achmad Fauzi Head of Human Capital Division (HCD). Born in Kuningan, West Java on November 4, 1965. Graduated from Faculty of Economy, Unkris in 1989 and Master of Business Law, Universitas Padjadjaran, Bandung in 2002. Joining with BSM since 2005. Gunawan Arief Hartoyo Head of Learning Center Division (LCD). Born in Sukohardjo on March 26, 1971. Graduated from Faculty of Economy, Universitas Airlangga in 1995. Joining with BSM since December 27, 1999. Eka Bramantya Danuwirana Head of Planning Development & Performance Management (PMD). Born in Tegal on April 11, 1969. Graduated from Faculty of Engineering, University of Missouri USA in 1993, obtained Master from Faculty of Engineering, Purdue University USA in 1995. Joining with BSM since 2007. Tri Widiyono Head of Legal Division (LGD). Born in Ponorogo on July, 22 1959. Graduated from Faculty of Law, Universitas Islam Jakarta (Bachelor) and Post-Graduate (Master), Universitas Indonesia majoring Notary; Business Law, Universitas
PT Bank Syariah Mandiri
BSM memiliki beragam kegiatan rutin untuk meningkatkan silaturrahim sesama pegawai, salah satunya adalah Doa Pagi Senin. Kegiatan ini diikuti semua pegawai kantor pusat dan kepala Cabang Jabodetabek. Kegiatan ini diisi pemaparan kinerja mingguan dan pengarahan langsung Manajemen.
Krisna Dwipayana, Notary and PPAT Candidate. Presently is completing Doctorate Degree on Law Studies, Faculty of Law, Universitas Brawijaya. Joining with BSM since March 1, 2013 (pursuant to SK No.15/285-KEP/DIR dated February 26, 2013)
President Directorate Mardiana Head of Internal Audit Division (IAD). Born in Yogyakarta on May 31, 1971. Graduated from Faculty of Economy majoring Accounting, from STIE YKPN Yogyakarta in 1994. Joining with BSM since April 1, 2013 (pursuant to SK No. 15/473- KEP/DIR dated March 26, 2013)
PT Bank Syariah Mandiri
Putu Rahwidhiyasa Head of Transformation Management & Corporate Culture (TCD). Born in Jakarta on September 13, 1964. Graduated from Faculty of Agriculture, Institut Pertanian Bogor in 1986, obtaining Master Finance & Strategy from University of Illinois USA in 1995. Joining dengan BSM since 2008 BSM has various regular activity to enhance employees unity, namely through Monday Morning Pray activity. The event is participated by all of employees at Head Office and Branch Office in Jabodetabek. The activity also disseminates weekly performance expose and direct briefing from the Management.
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COMPANY DATA REGION I KC MEDAN Jl. Jenderal Achmad Yani No. 100, Medan, Sumatera Utara. Telp. (061) 4153866, 4151466 Fax. (061) 4511867 KCP MEDAN SETIA BUDI Kompl. Perumahan Nice Commercial, Blok B No. 4, Jl. Setia Budi, Medan, Sumatera Utara. Telp. (061) 8220384 Fax. (061) 8221267 KCP MEDAN PETISAH Jl. Rotan No. 6-7, Medan, Sumatera Utara. Telp. (061) 4521002 Fax. (061) 4145787 KCP MEDAN KRAKATAU Jl. Krakatau No. 142 B-C, Kel. Glugur Darat I, Kec. Medan Timur, Kota Medan, Sumatera Utara. Telp. (061) 6691005 Fax. (061) 6616121
Office Networks KC: KCP: UPS: KK: KLS: PP:
Branch Office Sub Branch Unit Pelayanan Syariah Kantor Kas Konter Layanan Syariah Payment Point
KCP MEDAN BELAWAN Jl. Sumatera No. 33, Kec. Medan Belawan, Kota Medan, Sumatera Utara. Telp. (061) 6945820 Fax. (061) 6941744 KCP MEDAN TOMANG ELOK Jl. Gatot Subroto Komplek Tomang Elok Blok A No. 81, Medan, Sumatera Utara. Telp. (061) 8472668 Fax. (061) 8440518 KCP MEDAN ISKANDAR MUDA Jl. Iskandar Muda No. 58, Medan, Sumatera Utara. Telp. (061) 4151156 Fax. (061) 4521396 KCP MEDAN PULO BRAYAN Jl. Yos Sudarso Komplek Mega Glugur Mas No. 3-4, Medan, Sumatera Utara. Telp. (061) 6632917 Fax. (061) 6644784 KCP MEDAN MARELAN RAYA Jl. Marelan Raya Pasar IV No. 135, Kel. Rengas Pulau, Kec. Medan Marelan, Kota Medan, Sumatera Utara. Telp. (061) 6856176 Fax. (061) 6854463 KCP MEDAN THAMRIN Jl. Thamrin No. 91, Kel. Sei Rengas II, Kec. Medan, Kota Medan, Sumatera Utara. Telp. (061) 7334780 Fax. (061) 7366967 KCP GRAHA HELVETIA Jl. Kapten Sumarsono No. A-13, Desa Helvetia, Kec. Labuhan Deli, Kab. Deli Serdang, Sumatera Utara. Telp. (061) 8454341, 8454329 Fax. (061) 8455130
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KCP MEDAN MUCHTAR BASRI Jl. Kapt. Muchtar Basri No. 114 & 114-A, Kel. Glugur Darat II, Kec. Medan Timur, Kota Medan, Sumatera Utara. Telp. (061) 6622282 Fax. (061) 6622303 KK MEDAN POLONIA Bandara Udara Internasional Terminal Kedatangan, Jl. Imam Bonjol, Medan, Sumatera Utara. Telp. (061) 4567127 Fax. (061) 4567127 PP MEDAN KANTOR DEPARTEMEN AGAMA Kantor Kementrian Agama Kota Medan, Jl. Sei Batu Gingging, Kota Medan, Sumatera Utara. Telp. - Fax. KC ACEH Jl. Diponegoro No. 6, Banda Aceh, Aceh. Telp. (0651) 22010 Fax. (0651) 33945 KCP MEULABOH Jl. Nasional No. 107, Gampong Ujong Baroh, Kec. Johan Pahlawan, Kabupaten Aceh Barat, Aceh. Telp. (0655) 7551109, 7551558 Fax. (0655) 7551184 KCP SIGLI Jl. Prof. A. Majid Ibrahim blok C No. 5-6, Kp. Asan, Kec. Kota Sigli, Kabupaten Pidie, Aceh. Telp. (0653) 7829601, 7829602 Fax. (0653) 7829603 KCP ACEH DARUSSALAM Jl. T. Nyak Arief No. 376, Kopelma Darussalam, Syiah Kuala, Kota Banda Aceh, Aceh. Telp. (0651) 7551743, 7551744 Fax. (0651) 7551745 KCP JANTHO Jl. Jend. Sudirman, Jantho, Aceh Besar, Aceh. Telp. (0651) 92684, 92689 Fax. (0651) 92683 KCP CALANG Jl. Calang Meulaboh (Jl. Teuku Umar) No.5, Desa Dayah Baro, Kec. Krueng Sabe, Kab. Aceh Barat, Aceh. Telp. (0654) 2210114, 2210115 Fax. (0654) 2210117 KCP MEUREUDU Jl. Iskandar Muda No. 32-33, Desa Kota Meureudu, Kec. Meureudu, Kab. Pidie Jaya, Aceh. Telp. (0653) 51393, 51394 Fax. (0653) 51199 KCP LAMBARO Jl. Banda Aceh-Medan KM 8,5, Desa Lambaro, Kec. Ingin Jaya, Kabupaten Aceh Besar, Aceh. Telp. (0651) 8070130, 8070131 Fax. (0651) 8070133 KCP ACEH ULEE KARENG Jl. T. Iskandar No.333 A-B, Lam Glumpang, Ulee Kareng, Banda Aceh, Aceh. Telp. (0651) 637797, 637802, 637803 Fax. (0624) 637800
PT Bank Syariah Mandiri
KCP ACEH KEUTAPANG Jl. Raya Keutapang - Mata Ie No 4-6, Lambheu, Kec. Darul Imarah, Kab. Aceh Besar, Aceh. Telp. (0651) 49900, 49877, 49866 Fax. (0651) 49876 KCP SABANG Jl. Perdagangan No. 29, Kota Bawah Barat, Kec. Sukakarya, Kota Sabang, Aceh. Telp. (0652) 22616, 22718, 22719 Fax. (0652) 22724 KCP NAGAN RAYA Jl. Nasional Simpang Empat Jeuram, Gampong Simpang Peut, Kec. Kuala, Kab. Nagan Raya, Aceh. Telp. (0655) 7555382 Fax. (0655) 7555381 KCP POS BANDA ACEH Kantor Pos Cabang Banda Aceh, Jl. T. Hamzah Bendahara No. 33, Kec. Kuta Alam, Kota Banda Aceh, Aceh. Telp. (0651) 31129 Fax. (0651) 31127
PP ACEH POLITEHNIK KESEHATAN Politehnik Kesehatan Aceh, Jl. Soekarno Hatta, Kampus Terpadu Poltekkes Aceh, Aceh Besar, Aceh. Telp. - Fax. PP DAYAH JEUMALA AMAL Jl. Banda Aceh - Medan, Lueng Putu, Kec. Bandar Baru, Kab. Pidie Jaya, Aceh. Telp. - Fax. PP ACEH RS ZAINAL ABIDIN RSUD Dr Zainoel Abidin, Jl. Tgk. H. M. Daud Beureuh No. 118, Banda Aceh, Aceh. Telp. - Fax. KC PEKANBARU Jl. Jend. Sudirman No. 450, Pekanbaru, Riau. Telp. (0761) 849191, 849192, 849193, 849194 Fax. (0761) 849190, 31668
KK BEUREUNEUN Jl. Banda Aceh-Medan Km. 120, Desa Baro Yaman, Kec. Mutiara Gampong, Kab. Pidie, Aceh. Telp. (0653) 821117 Fax. (0653) 821118
KCP PEKANBARU PANAM Jl. HR. Subrantas Km. 9,5 (Depan Ponpes Babussalam), Kel. Sidomulyo, Kec. Tampan, Panam, Pekanbaru, Riau. Telp. (0761) 62263, 62385 Fax. (0761) 62270
PP ACEH UNMUHA Gedung Univ. Muhammadiyah Aceh, Jl. Muhammadiyah No. 91, Banda Aceh, Aceh. Telp. (0651) 28303 Fax. (0651) 28303
KCP PANGKALAN KERINCI Jl. Lintas Timur No. 115, Pangkalan Kerinci, Pekanbaru, Riau. Telp. (0761) 493335 Fax. (0761) 493337
PP DAYAH TENGKU C. DAUD BEUREUH (TERPADU) Komp. Dayah Tgk. Chik Daud Beureueh, Jl. Banda Aceh - Medan, Beureuneun, Kab Pidie, Aceh. Telp. - Fax. -
KCP TEMBILAHAN Jl. M. Boya No. 4, Tembilahan, Indragiri Hilir, Pekanbaru, Riau. Telp. (0768) 21935, 21936, 21937, 21939 Fax. (0768) 21938
PP JANTHO KANTOR BUPATI Kantor Bupati Jantho Aceh Besar, Jl. T. Bachtiar Panglima Polem, Aceh Besar, Aceh. Telp. - Fax. -
KCP UJUNG BATU Jl. Jend. Sudirman, Ujung Batu, Rokan Hulu, Riau. Telp. (0762) 7363901, 7363902, 7363903 Fax. (0762) 7363900
PP ACEH UNSYIAH Kampus Falkultas Ekonomi Unsyiah, Kopelma Darussalam, Banda Aceh, Aceh. Telp. - Fax. -
KCP PEKANBARU NANGKA Jl. Tuanku Tambusai No. 320 E-F, Labuh Baru Timur, Tampan, Pekanbaru, Riau. Telp. (0761) 7891526 Fax. (0761) 572064
PP ACEH UBUDIYAH Kampus Falkultas ‘Ubudiyah, Desa Tibang, Alue Naga, Banda Aceh, Aceh. Telp. - Fax. -
KCP BANGKINANG Jl. Datuk Tabano No. 66-67, Bangkinang, Kab. Kampar, Riau Telp. (0762) 21015, 21016, 21017 Fax. (0762) 21008
PP NAGAN RAYA DPPKAD Jl. Poros Utama Komplek Perkantoran Suka Makmoe, Kab. Nagan Raya, Aceh. Telp. (0655) 7556332 Fax. -
KCP PEKANBARU PASIR PUTIH Jl. Raya Pasir Putih No. 15-16, Kab. Kampar, Riau. Telp. (0761) 73427, 73429 Fax. (0761) 73431
PP ACEH IAIN AR RANIRY IAIN AR RANIRY, Jl. Lingkar Kampus IAIN, Banda Aceh, Aceh. Telp. - Fax. -
PT Bank Syariah Mandiri
KCP TELUK KUANTAN Jl. Kemerdekaan No. 48, Teluk Kuantan, Kab. Kuantan Singingi, Riau. Telp. (0760) 20600, 20588 Fax. (0760) 20550
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KCP PEKANBARU SUDIRMAN Jl. Jend. Sudirman No. 169, Desa Kota Tinggi, Kec. Pekanbaru Kota, Kota Pekanbaru, Riau. Telp. (0761) 849708 Fax. (0761) 849505 KCP RENGAT Jl. Sultan No. 50, Kel. Kampung Besar Kota, Kec. Rengat, Kab. Indragiri Hulu, Riau. Telp. (0769) 7004400 Fax. (0769) 324050 KCP SIAK Jl. Raja Kecik d/h Balai Kalang (Depan MTsN Siak), Kel. Kampung Dalam, Kec. Siak, Kab. Siak, Riau. Telp. (0764) 20222 Fax. (0764) 20223 KK PEKANBARU RUMBAI Jl. Sekolah, Rumbai No. 10 A, Pekanbaru, Riau. Telp. (0761) 51959 Fax. (0761) 51876 KK PASIR PANGARAIAN Jl. Tuanku Tambusai, Desa Rambah Tengah Utara, Kec. Rambah, Kab. Rokan Hulu, Riau. Telp. (0762) 7392344 Fax. (0762) 7392345 KK PEKANBARU UIR Gedung Fakultas Ekonomi Universitas Islam Riau (UIR), Jl. Kaharudin Nasution, Kel. Simpang Tiga, Kec. Bukit Raya, Kota Pekanbaru, Riau. Telp. (0761) 678930 Fax. PP PEKANBARU PENGADILAN AGAMA Jl. Rawa Indah No. 1, Arifin Ahmad, Pekanbaru, Riau. Telp. (0761) 7063358 Fax. (0761) 7063358 PP PEKANBARU POLITEKNIK CALTEX RIAU Jl. Umban Sari No. 1, Rumbai, Pekanbaru, Riau. Telp. (0761) 34325 Fax. (0761) 34325 KC SIMEULUE Pertokoan Suak Tungkul Kavling 1 No. 5/6, Jl. Tgk. Diujung Sinabang, Simeuleu, Aceh. Telp. (0650) 21547 Fax. (0650) 21556 KCP BLANGPIDIE Jl. Kesehatan No. 84-86, Gampong Kuta Tuha, Blangpidie, Aceh Barat Daya, Aceh. Telp. (0659) 93387 Fax. (0659) 93386 KCP SUBULUSSALAM Jl. Teuku Umar No. 10-11, Subulussalam, Aceh. Telp. (0627) 31500 Fax. (0627) 31502 KCP RIMO Jl. T. R. Angkasah No. 77 A/B, Lae Butar-Rimo, Kab. Aceh Singkil, Aceh. Telp. (0658) 21588, 21556, 21557 Fax. (0658) 21580
COMPANY DATA KK TAPAK TUAN Jl. Merdeka No. 92 B, Gampong Pasar, Kec. Tapak Tuan, Kab. Aceh Selatan, Aceh. Telp. (0656) 323700, 323702 Fax. (0656) 323701 KC PADANG Jl. Belakang Olo No. 47, Kel. Kampung Jawa, Kec. Padang Barat, Kota Padang, Sumatera Barat. Telp. (0751) 21113, 20765 Fax. (0751) 24768 KCP SOLOK Jl. Ahmad Dahlan No. 100, Kel. Pasar Pandan Air Mati, Kec. Tanjung Harapan, Kota Solok, Sumatera Barat. Telp. (0755) 22594 Fax. (0755) 22960 KCP PADANG ULAK KARANG Jl. S.Parman No. 145 A, Kel. Ulak Karang Selatan, Kec. Padang Utara, Kota Padang, Sumatera Barat. Telp. (0751) 444908 Fax. (0751) 444218 KCP PADANG BANDAR BUAT Jl. Rimbo Datar No. 16D RT 02 RW 02, Kel. Bandar Buat, Kec. Lubuk Kilangan, Kota Padang, Sumatera Barat. Telp. (0751) 775142, 71900 Fax. (0751) 72500 KCP PADANG PARIAMAN Jl. Hos Cokroaminoto No. 9, Kel. Alai Gelombang, Kec. Pariaman Tengah, Kota Pariaman, Sumatera Barat. Telp. (0751) 93950, 93951 Fax. (0751) 93952 KCP PULAU PUNJUNG Jl. Lintas Sumatra Km. 2, Nagari IV Koyo, Kec. Pulau Punjung, Kab. Dharmasraya, Sumatera Barat. Telp. (0754) 40770, 40771 Fax. (0754) 40772 KCP PADANG SITEBA Jl. Raya Pondok Kopi Siteba Blok D dan E, Kel. Negeri Nanggalo, Kec. Nanggalo, Kota Padang, Sumatera Barat. Telp. (0751) 4488722, 4488733 Fax. (0751) 4488755 KCP PAINAN Jl. Ilyas Yacub No. 10, Kenagarian Painan, Kec. IV Jurai, Kab. Pesisir Selatan, Sumatera Barat. Telp. (0756) 22805, 22803 Fax. (0756) 22807 KCP POS PADANG Kantor Pos Padang, Jl Bagindo Aziz Chan No. 7, Kel. Pasar baru, Kec. Padang Barat, Kota Padang, Sumatera Barat. Telp. (0751) 20770 Fax. (0751) 20772 KCP LUBUK ALUNG Jl. Raya Padang - Bukittinggi, Pasar Lubuk Alung, Kec. Lubuk Alung, Kab. Padang Pariaman, Sumatera Barat. Telp. (0751) 697800, 697900 Fax. (0751) 697496
KK PADANG UNIVERSITAS ANDALAS Gedung Pusat Kegiatan Mahasiswa Universitas Andalas Jl. Limau Manis, Padang, Sumatera Barat. Telp. (0751) 778601 Fax. (0751) 778600 KK UNIVERSITAS NEGERI PADANG Jl. Prof. Dr. Hamka, Kel. Air Tawar Barat, Kec. Padang Utara, Kota Padang, Sumatera Barat. Telp. (0751) 4488966, 4488988 Fax. (0751) 4488977 PP PADANG STKIP PGRI Jl. Gunung Pangilun, Padang, Sumatera Barat. Telp. - Fax. KC BINJAI Jl. Sukarno Hatta No. 22-23, Kel. Tanah Tinggi, Kec. Binjai Timur, Kota Binjai, Sumatera Utara. Telp. (061) 8826396 Fax. (061) 8826138 KCP STABAT Jl. KH. Zainul Arifin No. 17-A, Stabat, Kab. Langkat, Sumatera Utara. Telp. (061) 8912631, 8912632 Fax. (061) 8912630 KCP PANGKALAN BRANDAN Jl. Thamrin No. 57, Pangkalan Brandan, Kab. Langkat, Sumatra Utara. Telp. (0620) 322222 Fax. (0620) 322767 KCP KUALA Jl. Lintas Binjai Kuala, Desa Pekan Kuala, Kec. Kuala, Kab. Langkat, Sumatera Utara. Telp. (061) 8931378, 8931379 Fax. (061) 8931380 KCP DISKI Jl. Medan – Binjai Km. 12,5 No. 31, Diski Deli Serdang, Desa Puji Mulio, Kec. Sunggal, Kab. Deli Serdang, Sumatera Utara. Telp. (061) 8447320 Fax. (061) 8447324 KC RANTAU PRAPAT Jl. Imam Bonjol No. 22, Rantau Prapat, Sumatera Utara. Telp. (0624) 24880, 24205, 25278 Fax. (0624) 25278 KCP KOTA PINANG Jl. Jenderal Sudirman No. 26 B, Kota Pinang, Labuhan Batu, Sumatera Utara. Telp. (0624) 496922, 496918 Fax. (0624) 496919 KCP AEK KANOPAN Jl. Jend. Sudirman, Kel. Aek Kanopan Timur, Kec. Kualuh Hulu, Kab. Labuhan Batu Utara, Sumatera Utara. Telp. (0624) 693340 Fax. (0624) 693540 KCP KAMPUNG PAJAK Jl. Lintas Sumatera, Desa Kampung Pajak, Kec. NA IX-X, Kab. Labuhan Batu Utara, Sumatera Utara. Telp. (0624) 5741500, 5741511, 5741522 Fax. (0624) 5741533
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KCP SIGAMBAL Jl. H. M. Said (Jl. Lintas Sumatera Sigambal), Kel. Perdamaian, Kec. Rantau Selatan, Kab. Labuhan Batu, Sumatera Utara. Telp. (0624) 24829 Fax. (0624) 24210 KC BATAM Komplek Graha Sulaeman Blok B No. 2, Jl. Sultan Abdul Rahman, Lubuk Baja, Batam, Kep. Riau. Telp. (0778) 431331 Fax. (0778) 432727 KCP TANJUNG BALAI KARIMUN Jl. Ahmad Yani No. 3-4, Karimun, Kep. Riau. Telp. (0777) 327601, 327605 Fax. (0777) 327600 KCP BATAMINDO Shophouse Blok F#01-29&30, Kawasan Industri Batamindo, Batam, Kep. Riau. Telp. (0770) 612044 Fax. (0770) 612303 KCP BATAM BATU AJI Komplek Ruko Perumnas Fanindo Blok F No. 6, Tanjung Uncang, Batu Aji, Batam, Kep. Riau. Telp. (0778) 3581312, 3581314, 3581315 Fax. (0778) 3581313 KCP BATAM CENTER Komplek Mahkota Raya Blok C No. 12, Batam, Kep. Riau. Telp. (0778) 7483291, 7483292 Fax. (0778) 7483236 KCP BATAM BENGKONG Komplek Bengkong City No. 12, Kel. Batu Ampar, Kec. Bengkong Kota, Kota Batam, Kep. Riau. Telp. (0778) 423621 Fax. (0778) 424950 KCP BATAM BOTANIA GARDEN Komplek Pertokoan Botania Garden Blok 12 No. 5-6, Kel. Belian, Kec. Batam Kota, Kota Batam, Kep. Riau. Telp. (0778) 7494460 Fax. (0778) 7494457 KCP POS BATAM Kantor Pos Batam, Jl. Jenderal Sudirman No. 1, Batam Centre, Kel. Teluk Kering, Kec. Batam Kota, Kota Batam, Kep. Riau. Telp. - Fax. KK BATAM SEKUPANG Gedung Terminal Ferry Internasional Sekupang lantai dasar T10, Kota Batam, Kepulauan Riau. Telp. (0778) 326012, 326013 Fax. (0778) 326032 KC BUKITTINGGI Jl. Jenderal Sudirman No. 73, Bukittinggi, Sumatera Barat. Telp. (0752) 627633, 627635 Fax. (0752) 627637
PT Bank Syariah Mandiri
KCP PADANG PANJANG Jl. Soekarno-Hatta No. 5C - 5D, Kota Padang Panjang, Sumatera Barat. Telp. (0752) 84591, 82992 Fax. (0752) 82993
KCP PANYABUNGAN Jl. Willem Iskandar No. 115 B, Panyabungan, Madina, Sumatera Utara. Telp. (0636) 20232, 321500, 321616 Fax. (0636) 321617
KCP DUMAI SUKAJADI Jl. Pangeran Diponegoro No. 182, Kel. Rimba Sekampung, Kec. Dumai Barat, Kota Dumai, Riau. Telp. (0765) 33440 Fax. (0765) 33415
KCP PASAMAN BARAT Jl. Sudirman, Simpang Empat, Kab. Pasaman Barat, Sumatera Barat. Telp. (0753) 466778, 466779, 466780 Fax. (0753) 466777
KCP SIBUHUAN Jl. Ki Hajar Dewantara, Lingkungan VI, Sibuhuan, Padang Lawas, Sumatera Utara. Telp. (0636) 421335 - 421337 Fax. (0636) 421786
KCP BAGAN SIAPIAPI Jl. Mawar No. 1, Kel. Bagan Timur, Kec. Bangko, Kab. Rokan Hilir, Riau. Telp. (0767) 23022, 23030, 23040 Fax. (0767) 23044
KCP LUBUK BASUNG Jl. Gajah Mada, Cubadak, Kel. Balai Ahad, Kec. Lubuk Basung, Kab. Agam, Sumatera Barat. Telp. (0752) 66466 Fax. (0752) 66464
KCP GUNUNG TUA Jl. Sisingamangaraja No. 234, Kel. Pasar Baru Gunung Tua, Kec. Padang Bolak, Kab. Padang Lawas Utara, Sumatera Utara. Telp. (0635) 510919 Fax. (0635) 515920
PP DUMAI PERTAMINA UP II Kompl. Perumahan Pertamina UP II Jl. Cilacap, Bukit Datuk , Riau. Telp. (0765) 7011589 Fax. -
KCP LUBUK SIKAPING Komplek Ruko Lubuk Sikaping, Jl. Jend. Sudirman No. 19-20, Lubuk Sikaping, Sumatera Barat. Telp. (0753) 321653 Fax. (0753) 321651 KCP BUKITTINGGI PASAR AUR Jl. Raya By Pass Pasar Kuning No. 4-5, Bukittinggi, Sumatera Barat. Telp. (0752) 33842, 33843, 33844 Fax. (0752) 33845 KCP BATUSANGKAR Jl. Soekarno-Hatta No. 13, Kel. Sigarunggung Pasar Batusangkar, Kec. Lima Kaum, Kab. Tanah Datar, Sumatera Barat. Telp. (0752) 72500 Fax. (0752) 72501 KCP SAWAHLUNTO Ruko Simpang III Blok C 2-3, Kel. Muaro Kalaban, Kec. Silungkang, Kota Sawahlunto, Sumatera Barat. Telp. (0755) 91747, 91748 Fax. (0755) 91749 PP PADANG PANJANG ISI Jl. Bundo Kanduang No. 35 RT/RW VII, Kel. Guguk Malintang, Padang Panjang Timur, Padang Panjang, Sumatera Barat. Telp. - Fax. PP BATUSANGKAR STAIN Jl. Sudirman No. 137, Kel. Kubu Rajo, Batusangkar, Sumatera Barat. Telp. - Fax. PP PEMDA SAWAHLUNTO Pemda Kota Sawahlunto, Jl. Soekarno Hatta No. 3, Kota Sawahlunto, Sumatera Barat. Telp. - Fax. KC PADANGSIDEMPUAN Jl. Sudirman No. 130 A, Kel. Wek I, Kec. Padangsidempuan Utara, Kota Padangsidempuan, Sumatera Utara. Telp. (0634) 28200 Fax. (0634) 28103
PT Bank Syariah Mandiri
KCP SIPIROK Jl. Merdeka No.95, Kel. Sipirok Godang, Kec. Sipirok, Kab. Tapanuli Selatan, Sumatera Utara. Telp. (0634) 41520 Fax. (0634) 41560 KCP BATANG TORU Jl. Merdeka No. 47, Kel. Wek II, Kec. Batang Toru, Kab. Tapanuli Selatan, Sumatera Utara. Telp. (0634) 370200 Fax. (0634) 370069 KK PADANGSIDEMPUAN SUDIRMAN Jl. Sudirman Ex Merdeka No. 479C, Sadabuan, Padangsidempuan, Sumatera Utara. Telp. (0634) 28500 Fax. (0634) 21389 PP PADANGSIDEMPUAN STAIN STAIN Padangsidempuan, Jl. Imam Bonjol Km. 4,5, Padangsidempuan, Sumatera Utara. Telp. - Fax. PP UNIVERSITAS MUHAMMADIYAH TAPANULI SELATAN UMTS, Jl. St. Moh. Arif No. 32, Tapanuli Selatan, Sumatera Utara. Telp. - Fax. KC DUMAI Jl. Jenderal Sudirman No. 162, Dumai, Riau. Telp. (0765) 33555 Fax. (0765) 32379 KCP BAGAN BATU Jl. Jend. Sudirman No. 649, Bagan Batu, Kab. Rokan Hilir, Riau. Telp. (0765) 51890 - 51891 (Hunting) Fax. (0765) 51893 KCP BENGKALIS Jl. Hangtuah No 35, Kab. Bengkalis, Riau. Telp. (0766) 24787 Fax. (0766) 24788 KCP UJUNG TANJUNG Jl. Ujung Tanjung - Bagansiapi-api No. 69, Kel. Ujung Tanjung, Kec. Tanah Putih, Kota Rokan Hilir, Riau. Telp. (0765) 7020550 Fax. (0765) 7020551
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PP DUMAI RSUD Rumah Sakit Umum Daerah, Jl. Sultan Syarif Kasim, Dumai. Telp. (0765) 443369 Fax. (0765) 443370 KC PEMATANGSIANTAR Jl. Perintis Kemerdekaan No. 1, Pematangsiantar, Sumatera Utara. Telp. (0622) 435858, 435857, 435861 Fax. (0622) 435848 KCP SIMALUNGUN PERDAGANGAN Jl. Sisingamaraja, Perdagangan, Kab. Simalungun, Sumatera Utara. Telp. (0622) 697777 Fax. (0622) 697177 KCP KISARAN Jl. Imam Bonjol No. 195, Kel. Kisaran Timur, Kec. Kota Kisaran Timur, Kab. Asahan, Sumatera Utara. Telp. (0623) 348500, 348501 Fax. (0623) 348502 KCP TANJUNG BALAI Jl. HOS Cokroaminoto No.35 DE, Tanjung Balai, Sumatera Utara. Telp. (0623) 597373 Fax. (0623) 596933 KCP TEBING TINGGI Jl. A Yani No. 141, Kodya Tebing Tinggi, Sumatera Utara. Telp. (0621) 328125, 328126 Fax. (0621) 328127 KCP INDRAPURA Jl. Jenderal Sudirman, Indrapura, Kab. Batubara, Sumatera Utara. Telp. (0622) 646169, 646069 Fax. (0622) 646059 KK BATUBARA Jl. Merdeka No. 69, Tanjung Tiram, Kab. Batu Bara, Sumatera Utara. Telp. (0623) 451400 Fax. (0623) 451600 PP SIMALUNGUN BRIDGESTONE Komplek PT. Bridgestone Sumatera Rubber Estate, Dolok Merangir, Pos Serbalawan, Kab. Simalungun, Sumatera Utara. Telp. (0622) 64118 Fax. (0622) 64227
COMPANY DATA KC LANGSA Jl. Ahmad Yani No. 20-22, Kel. Gampong Jawa, Kec. Langsa Kota Langsa, Aceh. Telp. (0641) 426135, 21357, 426451 Fax. (0641) 426051
KK KIJANG Jl. Hang Jebat No. 4, Kel. Kijang, Kec. Bintan Timur, Kab. Bintan, Kep. Riau. Telp. (0771) 462700 Fax. (0771) 462900
KCP MEDAN AH. NASUTION Jl. Pintu Air I No. 9-B, Kel. Kwala Bekala, Kec. Medan Johor, Kota Medan, Sumatera Utara. Telp. (061) 8225288 Fax. (061) 8224288
KCP PASAR LANGSA Jl. Teuku Umar No. 61, Kota Langsa, Aceh. Telp. (0641) 22035, 23804 Fax. (0641) 23913
KK JEMAJA Jl. Merdeka, Kel. Letung, Kec. Jemaja, Kab. Anambas, Kep. Riau. Telp. - Fax. -
KCP MEDAN USU Kampus USU, Jl. Letnan Jend. Jamin Ginting Simpang No. 10, Kel. Merdeka, Kec. Medan Baru, Kota Medan, Sumatera Utara. Telp. (061) 8226363 Fax. (061) 8224747
KCP KUALA SIMPANG Jl. Cut Nyak Dien No. 3-4, Kampung Kota Lintang, Kec. Kota Kuala Simpang, Kab. Aceh Tamiang, Aceh. Telp. (0641) 31322, 31959 Fax. (0641) 31433 KCP POS LANGSA Kantor Pos Cabang Langsa, Jl. Ahmad Yani 29/56d, Kel. Gampong Jawa, Kec. Langsa, Kota Langsa, Aceh. Telp. (0641) 424500 Fax. (0641) 21900 PP LANGSA MADRASAH ULUMUL QUR’AN Madrasah Ulumul Quran Jl. Banda Aceh-Medan Km. 447, Kota Langsa, Aceh. Telp. (0641) 7014766 Fax. PP LANGSA STAIN ZAWIYAH COT KALA Gedung Rektorat STAIN Zawiyah Cot Kala Langsa, Jl. Meurandeh, Kec. Langsa Lama, Kota Langsa, Aceh. Telp. (0641) 23129 Fax. (0641) 23129 KC TANJUNG PINANG Jl. Basuki Rahmat No. 1-3, Kel. Tanjungpinang Timur, Kec. Bukit Bestari, Kota Tanjungpinang, Kep. Riau. Telp. (0771) 313788 Fax. (0771) 313995 KCP TANJUNG UBAN Jl. Permaisuri Rt 001/007, Tanjung Uban, Bintan Utara, Bintan, Kep. Riau. Telp. (0771) 482624 Fax. (0771) 482929 KCP NATUNA Jl. Soekarno Hatta, Kel. Ranai Kota, Kec. Bunguran Timur, Kab. Natuna, Kepulauan Riau. Telp. (0773) 31299 Fax. (0773) 31469
PP RSUD KEPULAUAN RIAU RSUD Kep. Riau Tanjung Uban, Jl. Permaisuri, Tanjung Uban, Kab. Bintan, Kep. Riau. Telp. - Fax. KC DURI Jl. Hang Tuah, Duri, Kab Bengkalis, Riau. Telp. (0765) 598990 Fax. (0765) 598993 KCP FLAMBOYAN Pasar Flamboyan, Jl. Raya Tapung - Petapahan No. 54, Kel/Desa Tanjung Sawit, Kec. Tapung, Kab. Kampar, Riau. Telp. (0761) 7770133, 4878484 Fax. (0761) 7770144 KK DURI CPI “Area Camp PT. Chevron Pacific Indonesia (CPI), Duri, Kab. Bengkalis, Riau.“ Telp. (0765) 826303 Fax. (0765) 999038 KC MEDAN GAJAH MADA Jl. Gajah Mada No. 7, Kel. Petisah Hulu, Kec. Medan Baru, Kota Medan. Sumatera Utara. Telp. (061) 4550755 Fax. (061) 4550766, 4537627 KCP MEDAN RINGROAD Jl. Ringroad No. A15-A17, Kel. Tanjung Rejo, Kec. Medan Sunggal, Kota Medan, Sumatera Utara. Telp. (061) 8456006 Fax. (061) 8456004 KK MEDAN PANCA BUDI Perguruan Panca Budi , d.a. Toserba PADI, Gedung G, Jl. Gatot Subroto Km. 4,5, Kel. Simpang Tanjung, Kec. Medan Sunggal, Kota Medan, Sumatera Utara. Telp. (061) 80025557 Fax. (061) 80025558
KCP BINTAN CENTER Jl. D.I. Panjaitan Km. 9 No. 1-2, Bintan Center, Tanjung Pinang, Kep. Riau. Telp. (0771) 442222 Fax. (0771) 442299
PP MEDAN AL AZHAR Yayasan Hajjah Rachmah Nasution (YHRN), Jl. Pintu Air No. 124 Kwala Bekala - Padang Bulan, Kota Medan, Sumatera utara. Telp. - Fax. -
KCP ANAMBAS Jl. Imam Bonjol No. 1, Tarempa, Kab. Kepulauan Anambas, Kep. Riau. Telp. (0772) 31315 Fax. (0772) 31554
KC MEDAN KAMPUNG BARU Jl. Brigjen Katamso No. 717 B, Medan, Sumatera Utara. Telp. (061) 7878383 Fax. (061) 7872323
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KCP MEDAN SIMPANG LIMUN Jl. Sisingamangaraja No. 51-B, Medan, Sumatera Utara. Telp. (061) 7866464, 7864455, 7868555, 7866611 Fax. (061) 7873555 KCP MEDAN AMPLAS Jl. Sisingamangaraja Km. 5,5 No. 20 B-C, Kel. Harjosari I, Kec. Medan Amplas, Kota Medan, Sumatera Utara. Telp. (061) 7870693 Fax. (061) 7870794 KCP MEDAN PADANG BULAN Komplek Delta No. 3 dan 4, Jl. Letjend Jamin Ginting, Padang Bulan Km. 8,5, Kel. Mangga, Kec. Medan Tuntungan, Kota Medan, Sumatera Utara. Telp. (061) 8363825 Fax. (061) 8363791 PP MEDAN STMIK TRIGUNA DHARMA Jl. AH. Nasution No. 73, Kel. Kwala Bekala, Kec. Medan Johor, Kota Medan, Sumatera Utara. Telp. - Fax. PP MEDAN UISU Kampus Universitas Islam Sumatera Utara Jl. Sisingamaraja - Teladan, Medan, Sumatera Utara. Telp. (061) 7883683 Fax. (061) 7883683 KC SIBOLGA Jl. Sutoyo Siswomiharjo No. 22, Sibolga Utara, Sibolga, Sumatera Utara. Telp. (0631) 24555 Fax. (0631) 26722 KC LUBUK PAKAM Jl. Diponegoro No. 45-46 Pasar I, Kel. Lubuk Pakam, Kec. Lubuk Pakam, Kab. Deli Serdang, Sumatera Utara. Telp. (061) 7950417 Fax. (061) 7950419 KCP PERBAUNGAN Jl. Serdang No. 35, Kel. Simpang Tiga Pekan, Kec. Perbaungan, Kab. Serdang Bedagai, Sumatera Utara. Telp. (061) 7990999 Fax. (061) 7990444 KCP SEI RAMPAH Komplek Asia Bisnis Center No. 88-BD dan 86-BE, Jl. Sudirman, Kec. Sei Rampah, Kab. Serdang Bedagai, Sumatera Utara. Telp. (0621) 442188, 442138 Fax. (0621) 442177
PT Bank Syariah Mandiri
KC LHOKSEUMAWE Jl. Merdeka No. 24-25, Desa Simpang Empat, Kec. Banda Sakti, Kotif Lhokseumawe, Aceh. Telp. (0645) 631146, 631147, 631148 Fax. (0645) 41555
KCP SOREK Jl. Lintas Timur no. 196, RT 02 RW 03, Kel. Sorek Satu, Kec. Pangkalan Kuras, Kab. Pelalawan, Riau. Telp. (0761) 492466 Fax. (0761) 492266
KCP JAKARTA TENDEAN Jl. Piere Tendean No. 22A, Kel. Pela Mampang, Kec. Mampang Prapatan, Jakarta Selatan. Telp. (021) 71794640 Fax. (021) 7197820
KCP BIREUEUN Jl. Iskandar Muda No. 8, Bireueun, Aceh. Telp. (0644) 323002 Fax. (0644) 323004
PP SURYA BRATASENA Kantor Operasional PT Surya Bratasena Plantation, Desa Sorek, Kec. Pangkalan Kuras, Kab. Pelalawan, Riau. Telp. - Fax. -
KK JAKARTA AL AZHAR KEBAYORAN Komplek Masjid Agung Al Azhar, Jl. Sisingamaraja Kebayoran Baru, Jakarta Selatan. Telp. (021) 72790244 Fax. (021) 72790381
KCP TAKENGON Jl. Sengeda No. 100-101, Kel. Kala Kemili, Kec. Bebesan, Kab. Aceh Tengah, Aceh. Telp. (0643) 24682, 24684 Fax. (0643) 24681 KCP PANTON LABU Jl. T. Hamzah Bendahara No. 140-141, Kec. Tanah Jambo Aye, Kota Panton Labu, Aceh Utara, Aceh . Telp. (0645) 91562, 91563, 91564 Fax. (0645) 91061 PP BATUPHAT Komplek Perum Arun NGL, Jl. Pangkalan Susu, Desa Batuphat, Kec. Muara Dua, Kota Lhokseumawe, Aceh. Telp. (0645) 653115 Fax. KC PAYAKUMBUH Jl. Ade Irma Suryani No. 3 D-E, Payakumbuh, Sumatera Barat. Telp. (0752) 796640, 796641 Fax. (0752) 93167 KCP PANGKALAN Jl. Pasar Baru Pangkalan, Kenagarian Pangkalan, Kec. Pangkalan Kota Baru, Kab. Lima Puluh Kota, Sumatera Barat. Telp. (0752) 55554, 55555, 55556 Fax. (0752) 55557 KK TANJUNG PATI Jl. Raya Negara Km. 8, Jorong Sarilamak, Kenagarian Sarilamak, Kec. Harau, Kab. Lima Puluh Kota, Sumatera Barat. Telp. (0752) 7754232 Fax. (0752) 7754055 KC PEKANBARU HARAPAN RAYA Jl. Haji Imam Munandar No. 8, Kel. Tangkerang Utara, Kec. Bukit Raya, Kota Pekanbaru, Riau. Telp. (0761) 862222 Fax. (0761) 849799 KCP SELAT PANJANG Jl. Imam Bonjol No. 88, Kel. Selat Panjang Barat, Kec. Tebing Tinggi, Kab. Kepulauan Meranti (dh. Kab. Bengkalis), Riau. Telp. (0763) 31173 Fax. (0763) 31146 KCP PEKANBARU RIAU Jl. Riau No. 85 A-B, Kel. Padang Terubuk, Kec. Senapelan, Kota Pekanbaru, Riau. Telp. (0761) 861103 Fax. (0761) 861105
PT Bank Syariah Mandiri
KC KABANJAHE Komplek Raja Lahir Munte Blok E No. 1-2, Jl. Selamat Ketaren, Kel. Gung Leto, Kec. Kabanjahe, Kab. Karo, Sumatera Utara. Telp. (0628) 21999 Fax. (0628) 21859 PP DINAS KESEHATAN KAB. KARO Kadinkes Kab. Karo, Jl. Selamat Ketaren No. 9, Kec. Kabanjahe, Kab. Karo, Sumatera Utara. Telp. - Fax. KC MEDAN AKSARA Jl. Letda Sujono No. 110, Kel. Medan Estate, Kec. Percut Sei Tuan, Kab. Deli Serdang, Sumatera Utara. Telp. (061) 7325939, 7325957 Fax. (061) 7332936
REGION II KC JAKARTA HASANUDIN Jl. S. Hasanudin No. 57, Jakarta Selatan. Telp. (021) 2701515, 2701505 Fax. (021) 7220362 KCP JAKARTA FATMAWATI Jl. RS Fatmawati No. 27 B, Jakarta Selatan. Telp. (021) 75903336 Fax. (021) 75903362 KCP JAKARTA WOLTERMONGINSIDI Jl. Woltermonginsidi No. 67 A, Jakarta Selatan. Telp. (021) 7226063, 7226067, 7226068 Fax. (021) 7223044 KCP JAKARTA PANGLIMA POLIM Jl. RS Fatmawati No. 127 Blok A-8, Kebayoran baru, Jakarta Selatan. Telp. (021) 2700568, 2700569, 2700570 Fax. (021) 7203610 KCP JAKARTA EQUITY TOWER Ground Floor Unit B1, Gd. Equity Tower Kawasan Sudirman Central Business District (SCBD), Kec. Kebayoran Baru, Jakarta Selatan. Telp. (021) 5150577, 5153675, 5153437, 5153458 Fax. (021) 5153549 KCP JAKARTA BARITO Jl. Barito No. 11 A, RT 08/05, Kel. Kramat Pela, Kec. Kebayoran Baru, Jakarta Selatan. Telp. (021) 7222754, 7222753 Fax. (021) 7222613, 7228353
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PP JAKARTA PENGADILAN AGAMA Jl. K.H. Mas Mansyur/Jl. H. Awaluddin II/2, Tanah Abang, Jakarta Pusat. Telp. (021) 327910 Fax. PP JAKARTA RS SETIA MITRA Jl. RS. Fatmawati No. 80-82, Jakarta Selatan. Telp. (021) 327910 Fax. PP JAKARTA RS ISLAM PONDOK KOPI RS Islam Jakarta Pondok Kopi, Jl. Nusa Indah Raya 75, Pondok Kopi, Jakarta Timur. Telp. - Fax. PP JAKARTA YAPIMDA Yayasan Yapimda, Jl. Poltangan III No. 97, Pasar Minggu, Jakarta Selatan. Telp. - Fax. KC JAKARTA MAYESTIK Jl. Kyai Madja Blok D/1 Persil No. 2, RT 004 RW 01 No. 7, Kramat Pela, Kebayoran Baru, Jakarta Selatan. Telp. (021) 7202451, 7202728, 7202509, 7394952 Fax. (021) 7220822 KCP JAKARTA PALMERAH Jl. Palmerah Barat No. 32 B, Kebayoran Lama, Jakarta Selatan. Telp. (021) 5356423, 5356601 Fax. (021) 5356757 KCP JAKARTA RADIO DALAM Jl. Radio Dalam Raya No. 61, Kavling DD-EE RT. 001 RW. 01, Gandaria Utara, Kebayoran Utara, Jakarta Selatan. Telp. (021) 72799673, 7246247 Fax. (021) 7223079 KCP JAKARTA S. PARMAN Gedung Graha GRC Board, Jl. Letjen S. Parman Kav.64, Kel. Slipi, Kec. Palmerah, Jakarta Barat. Telp. (021) 5362107, 5328637, 5493391 Fax. (021) 5362108 KCP JAKARTA SULTAN ISKANDAR MUDA Jl. Arteri No. 99-D RT 005 RW 06, Kel. Kebayoran Lama Utara, Kec. Kebayoran Lama, Jakarta Selatan. Telp. (021) 7238356, 7238357 Fax. (021) 7238358 KCP JAKARTA SIMPRUG Komp. Grand ITC Permata Hijau Blok Emerald Persil No. 13, Jl. Arteri Permata Hijau, Kel. Grogol Utara, Kec. Kebayoran Baru, Jakarta Selatan. Telp. (021) 53663393, 5363883 Fax. (021) 53663336
COMPANY DATA KLS JAKARTA GD. PUSAT KEHUTANAN Kantor Cabang Bank Mandiri Wisma Manggala Wanabhakti, Jl. Jend. Gatot Subroto, Jakarta Pusat. Telp. (021) 5731933 Fax. (021) 5731933
PB JAKARTA PONDOK INDAH Komp. Ruko Pondok Indah Kav. II No.11, Blok UA Jl.Taman Duta I Sektor II, Jakarta Selatan. Telp. (021) 75920025 Fax. (021) 75920024
KCP BEKASI TIMUR Ruko Kalimas Blok C-5-6, Jl. Chairil Anwar, Bekasi, Jawa Barat. Telp. (021) 70214078, 88353689, 8803805 Fax. (021) 8804147
KC JAKARTA WARUNG BUNCIT Gedung Fortune Lt. Dasar Jl. Mampang Prapatan No. 96 Jakarta Selatan. Telp. (021) 7989007, 7989009 Fax. (021) 7989006
KCP DEPOK CINERE Jl. Cinere Raya Blok A No. 38, Limo, Kota Depok, Jawa Barat. Telp. (021) 7548031 Fax. (021) 7548032
KCP BEKASI TAMBUN Jl. Sultan Hasanuddin No. 1, Depan Koramil Tambun Selatan, Tambun, Bekasi, Jawa Barat. Telp. (021) 88377632, 88377633, 88373097 Fax. (021) 88327079
KCP JAKARTA KEMANG Jl. Kemang Raya No. 82, Bangka, Mampang Prapatan, Jakarta Selatan. Telp. (021) 7193437, 7193439, 7193452, 7197050 Fax. (021) 7197443
KCP TANGERANG PAMULANG Jl. Raya Pamulang Blok SH 21 No. 17-18, Kel. Pamulang Barat, Kec. Pamulang, Kota Tangerang Selatan, Banten. Telp. (021) 74701759, 7443301, 7443303 Fax. (021) 7498348
KCP BEKASI KEMANG PRATAMA Jl. Raya Kemang Pratama Blok AN No. 1B, Bekasi, Jawa Barat. Telp. (021) 82405246, 82432974 Fax. (021) 8202884
KCP JAKARTA CIRACAS Jl. Lapangan Tembak No. 1 Rt. 005/02, Cibubur, Ciracas, Jakarta Timur. Telp. (021) 8704204, 8704164, 87710061 Fax. (021) 87709405 KCP JAKARTA KRAMAT JATI Pasar Induk Kramat Jati Blok D1 No. 20-21, Jl. Raya Bogor KM. 17, Jakarta Timur. Telp. (021) 87798765, 87795502, 87795516, 87795545 Fax. (021) 87795451
KCP JAKARTA CILANDAK Komplek Ruko Haji Madali Jl. Cilandak KKO No. 5E, Cilandak, Ragunan, Jakarta Selatan. Telp. (021) 7829780 Fax. (021) 78832136 KCP TANGERANG CIRENDEU Jl. Cirendeu Raya No. 29 E, Cirendeu, Ciputat, Tangerang Selatan, Banten. Telp. (021) 74713525, 74714033, 74713537 Fax. (021) 7490208
KCP JAKARTA PS. REBO Komplek Mutiara Faza, Jl. Raya Condet, RT 007/01, Kel. Gedong, Kec. Pasar Rebo, Jakarta Timur. Telp. (021) 87792471, 87792605, 87792414, 87780053, 8408691 Fax. (021) 8412758
KCP JAKARTA PONDOK LABU Graha Fatmawati, Jl. RS. Fatmawati Blok A No. 1D RT 005/09, Kel. Cilandak Barat, Kec. Cilandak, Jakarta Selatan. Telp. (021) 7694434, 75903246, 75910378 Fax. (021) 7502981
KCP JAKARTA PEJATEN RAYA Gedung Buncit 36, Jl. Warung Buncit Raya No. 36, Kel. Ragunan, Kec. Pasar Minggu, Jakarta Selatan. Telp. (021) 78848377 Fax. (021) 78848415
KCP TANGERANG PONDOK CABE Ruko Pondok Cabe Mutiara Blok B-6, Jl. Mohd. Toha, Kel. Pondok Cabe Udik, Kec. Pamulang, Tangerang Selatan, Banten. Telp. (021) 7415281, 7415282, 7415283 Fax. (021) 74700201
KCP MITRA MANDIRI ANEKA TAMBANG Bank Mandiri KCP Gedung Antam, Gedung Aneka Tambang, Jl. Letjen TB. Simatupang No. 1, Lingkar Selatan, Tanjung Barat, Jakarta Selatan. Telp. - Fax. KK JAKARTA PLAZA MANDIRI Plaza Mandiri - L 1, Jl. Jend. Gatot Subroto Kav 36-38, Jakarta Selatan. Telp. (021) 5263466, 5263688 Fax. (021) 5263566 KLS JAKARTA DEPTAN Kantor Pusat Departemen Pertanian, Gedung B, lantai Dasar, Jl. Harsono RM. No. 3, Ragunan, Jakarta Selatan. Telp. (021) 7801892 Fax. (021) 7801863 KC JAKARTA PONDOK INDAH Komp. Ruko Pondok Indah Kav. II No.11 Blok UA, Jl.Taman Duta I Sektor II, Jakarta Selatan. Telp. (021) 7662029, 7662030 Fax. (021) 7662028, 7665391
KCP JAKARTA PONDOK PINANG Jl. Ciputat Raya No. 56 B, Pondok Pinang, Kebayoran Lama, Jakarta Selatan. Telp. (021) 75818970 Fax. (021) 75902177 KC BEKASI Komplek Pertokoan Kalimalang Comm Center, Jl. A Yani A5 No. 6-7, Bekasi, Jawa Barat. Telp. (021) 8853990, 8856368, 8840355, 8853991, 88855418 Fax. (021) 8856406 KCP KARAWANG Jl. Tuparev No. 266, Kel. Nagasari, Kec. Karawang Barat, Kab. Karawang, Jawa Barat. Telp. (0267) 402720, 418451, 418452 Fax. (0267) 402070 KCP CIKAMPEK Jl. A Yani No. 5, Cikampek Kota, Karawang, Jawa Barat. Telp. (0264) 8385152 , 8385153, 8385154 Fax. (0264) 8385227
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KCP CIKARANG JABABEKA Ruko Metro Boulevard Blok A 1-2, Jl. Niaga Raya Jababeka II, Cikarang, Kab. Bekasi, Jawa Barat. Telp. (021) 89842324, 89842325, 89842326 Fax. (021) 89840499 KCP BEKASI KALIMALANG Komp. Ruko Plaza Duta Permai Blok B II No. 1-2, Jl. Raya Kalimalang KH. Noer Ali, Bekasi, Jawa Barat. Telp. (021) 8842886, 88853101 Fax. (021) 8842355 KCP BEKASI HARAPAN INDAH Ruko Boulevard Hijau Raya Blok SN. 1 No. 21-22, Kel. Pejuang, Kec. Medan Satria, Bekasi, Jawa Barat. Telp. (021) 88865555, 88865929 Fax. (021) 88865666 KCP BEKASI GRAND MALL Rusun Hunian dan Non Hunian, Lt. Dasar 1, II/Blok B No. 57, Grand Mall B, Jl. Jend. Sudirman, Kel. Harapan Mulya, Kec. Bekasi Selatan, Kota Bekasi, Jawa Barat. Telp. (021) 88850033, 88851607, 88851624 Fax. (021) 88853388 KCP POS BEKASI Kantor Pos Bekasi, Jl. Lapangan Multiguna No. 7, Kel. Margahayu, Kec. Bekasi Timur, Kab. Bekasi, Jawa Barat. Telp. - Fax. KC JAKARTA THAMRIN Jl. M. H. Thamrin No. 5, Jakarta Pusat. Telp. (021) 2300509, 39839000 Fax. (021) 39832939 KCP JAKARTA TANAH ABANG Komplek Tanah Abang Bukit, Blok F/4, Jl. KH. Fachruddin, Jakarta Pusat. Telp. (021) 3917747, 3923030 Fax. (021) 3918004 KCP JAKARTA PASAR BARU Jl. Pintu Air No. 7 Blok A1, Pasar Baru, Jakarta Pusat. Telp. (021) 3442371 Fax. (021) 3442370 KCP JAKARTA CIKINI Jl. Cikini Raya No. 69-71, Cikini, Menteng, Jakarta Pusat. Telp. (021) 31901900 Fax. (021) 31902900
PT Bank Syariah Mandiri
KCP JAKARTA WAHID HASYIM Jl. KH. Wahid Hasyim No. 141 A. Kel. Kebon Kacang, Kec. Tanah Abang, Jakarta Pusat. Telp. (021) 3161305 Fax. (021) 3161304, 3905506 KCP JAKARTA CIDENG Jl. Cideng Timur No. 86B, Kel. Petojo Utara, Kec. Gambir, Jakarta Pusat. Telp. (021) 3860102 Fax. (021) 3863688, 3863689
KCP BOGOR MERDEKA Jl. Merdeka No. 63, Bogor, Jawa Barat. Telp. (0251) 8386570, 8386571 Fax. (0251) 8362312 KCP BOGOR JALAN BARU Jl. KH. Sholeh Iskandar No. 77 A-B, Bogor, Jawa Barat. Telp. (0251) 8377218 Fax. (0251) 8377321
KCP JAKARTA MENTENG Jl. Blora No. 34-35, Kec. Menteng, Jakarta Pusat. Telp. (021) 3900056 Fax. (021) 31906185
KCP BOGOR POMAD Jl. Raya Bogor No. 323, Simpang Pomad, Ciparigi, Bogor Utara, Bogor, Jawa Barat. Telp. (0251) 8660655, 8660677 Fax. (0251) 8660776
KCP POS JAKARTA PUSAT Jl. Lapangan Banteng Utara No. 1, Kel. Pasar Baru, Kec. Sawah Besar, Jakarta Pusat. Telp. (021) 3447926 Fax. -
KCP BOGOR SUDIRMAN Jl. Jend. Sudirman No. 37, Kel. Sempur, Kec. Bogor Tengah, Kota Bogor, Jawa Barat. Telp. (0251) 8348065 Fax. (0251) 8348139
KCP MITRA MANDIRI PASAR BARU Bank Mandiri KC Jakarta Pasar Baru, Jl. KH. Samanhudi No. 2 AB, Kel. Pasar Baru, Kec. Sawah Besar, Jakarta Pusat. Telp. - Fax. -
KCP POS BOGOR Kantor Pos Bogor, Jl. Ir. H. Djuanda No. 5, Kel. Paledang, Kec. Bogor Tengah, Kota Bogor, Jawa Barat. Telp. (0251) 8347800 Fax. (0251) 8347688
KK JAKARTA INDOSAT Gedung Indosat, Jl. Medan Merdeka Barat No. 21, Jakarta Pusat. Telp. (021) 3519140, 3869969 Fax. (021) 3519141
KK BOGOR WARUNG JAMBU Jl. KS. Tubun No. 5A, Kel. Cibuluh, Kec. Bogor Utara, Kota Bogor, Jawa Barat. Telp. (0251) 8343588 Fax. (0251) 8386928
KK JAKARTA DEPARTEMEN AGAMA Gedung Departemen Agama, Jl. Lapangan Banteng No. 3-4, Jakarta Pusat. Telp. (021) 3441235 Fax. (021) 3441231
KC TANGERANG Ruko Business Park Tangerang City Blok A No. 12, Jl. Jend. Sudirman, Tangerang, Banten Telp. (021) 55781230, 55781231, 55781232 Fax. (021) 55781233
KK JAKARTA GRAHA MANDIRI Gedung Graha Mandiri Lantai 1, Jl. Imam Bonjol No. 61, Kec. Menteng, Jakarta Pusat. Telp. (021) 2301735 Fax. (021) 2301508
KCP TANGERANG MALABAR Jl. Borobudur Raya M 16-17, Bencongan, Kelapa Dua, Tangerang, Banten. Telp. (021) 55655016, 55655017, 55655012 Fax. (021) 5910544
PP JAKARTA BANK INDONESIA Komplek Bank Indonesia, Gedung Kebon Sirih Lantai 3, Jakarta Pusat. Telp. - Fax. -
KCP TANGERANG CIKUPA Jl. Raya Serang Km. 14,8, Blok B No. 7, Cikupa, Tangerang, Banten. Telp. (021) 5963633, 5963634 Fax. (021) 5963635
KC BOGOR Jl. Pajajaran No. 31, Kel. Babakan, Kec. Bogor Tengah, Kota Bogor, Jawa Barat. Telp. (0251) 8350562, 8350563, 8350564 Fax. (0251) 8350565
KCP TANGERANG CIMONE Jl. Merdeka No. 308 Cimone, Tangerang, Banten. Telp. (021) 5580754, 5580711 Fax. (021) 5580807
KCP BOGOR TAJUR Jl. Raya Tajur No. 77A, Tajur, Bogor, Jawa Barat. Telp. (0251) 8312169, 8393260, 8323932 Fax. (0251) 8320472 KCP BOGOR DRAMAGA Jl. Perwira No. 151, Dramaga, Bogor, Jawa Barat. Telp. (0251) 8423026, 8628322 Fax. (0251) 8423027
PT Bank Syariah Mandiri
KCP TANGERANG BALARAJA Komplek Ruko Indah Mas No. 1, Jl. Raya Serang KM. 24, Balaraja, Tangerang, Banten. Telp. (021) 5950124 Fax. (021) 5950123 KCP TANGERANG PERIUK Ruko Global Mansion Blok RA No. 1-2, Jl. Moch. Toha No. 89, Kel. Periuk, Kec. Periuk, Kota Tangerang, Banten. Telp. (021) 55799710 Fax. (021) 55794144
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KCP TANGERANG CIPONDOH Jl. Kyai Haji Hasyim Ashari No. 68 A-B, Kel. Poris Plawad Indah, Kec. Cipondoh, Kota Tangerang, Banten. Telp. (021) 55701905, 55701902 Fax. (021) 55701904 KCP TANGERANG KARAWACI Jl. Dayung Raya No. 35 A & B, Kel. Kelapa Dua, Kec. Kelapa Dua, Kab. Tangerang, Banten. Telp. (021) 5464694 Fax. (021) 5464687 KCP POS TANGERANG Kantor Pos Tangerang, Jl. Daan Mogot No. 11, Sukarasa, Kota Tangerang, Banten. Telp. - Fax. KLS TANGERANG RS. AWAL BROS RS. Awal Bros Jl. MH. Thamrin No. 3, Tangerang, Banten. Telp. (021) 55781523, 55780888 ext 1950 Fax. (021) 55781523 KC CILEGON Jl. Sultan Ageng Tirtayasa No. 115 A, Cilegon, Banten. Telp. (0254) 399444, 375648 Fax. (0254) 375645 KCP LEBAK BANTEN Jl. Alun-Alun Barat No. 1 Lebak, Banten. Telp. (0252) 5285411, 5285412 Fax. (0252) 5285413 KCP LABUAN Jl. Jend. Sudirman No. 41, Labuan, Pandeglang, Banten. Telp. (0253) 802768, 802769, 802770, 802771 Fax. (0253) 802767 KCP ANYER Jl. Raya Anyer KM. 124, Kampung Kepuh I, Kel. Anyar, Kec. Anyar, Kab. Serang, Banten. Telp. (0254) 600687, 604769 Fax. (0254) 600685 KCP PANDEGLANG Jl. A. Yani No. 41, Pandeglang, Banten. Telp. (0253) 206035, 205994 Fax. (0253) 206034 KCP PONDOK CILEGON INDAH Cilegon City Square Blok A7, Kel. Kedaleman, Kec. Cibeber, Kota Cilegon, Banten. Telp. (0254) 399151 Fax. (0254) 399686 PP CILEGON PT. KBS Gedung Utama PT. Krakatau Bandar Samudera, Jl. S. Parman Km. 13 Cigading, Cilegon, Banten Telp. (0254) 8317043 Fax. (0254) 8317042 PP CILEGON AL AZHAR Komplek Yayasan Pendidikan Warga Krakatau Steel, Jl. Tongkol No. 17, Cilegon, Banten Telp. - Fax. -
COMPANY DATA PP PANDEGLANG STAISMAN Jl. Raya Labuan Km. 2, Pandeglang, Banten. Telp. - Fax. KC JAKARTA TANJUNG PRIOK Jl. Enggano No. 42B - 42, Tanjung Priok, Jakarta Utara. Telp. (021) 43906060, 43906055 Fax. (021) 43906058, 43906059 KCP JAKARTA KRAMAT JAYA Jl. Kramat Jaya No. 42 B, Cilincing, Jakarta Utara. Telp. (021) 4410348 Fax. (021) 4410348 KCP JAKARTA MUARA KARANG Jl. Muara Karang Blok A. 7 No. 173, Kec. Penjaringan, Jakarta Utara. Telp. (021) 66693079, 6616980 Fax. (021) 66693108 KCP JAKARTA PADEMANGAN Jl. Budi Mulia Raya / R. E. Martadinata Blok C No. 1, Kel. Pademangan Barat, Kec. Pademangan, Jakarta Utara. Telp. (021) 29374200 Fax. (021) 64700081 KCP JAKARTA CILINCING Jl. Raya Cakung Cilincing, Tanjung Priok, Jakarta Utara. Telp. (021) 29376622 Fax. (021) 29376621 KCP POS JAKARTA UTARA Kantor Pos Jakarta Utara, Jl. Swasembada Timur IX No. 37, Kel. Sungai Bambu, Kec. Tanjung Priok, Jakarta Utara. Telp. (021) 4361993 Fax. (021) 4361994
KCP JAKARTA MEGA KUNINGAN Jl. Mega Kuningan Barat Blok A9/B9 No. C5-6-7, lantai B-D-2-3-4-5-DRM, Jakarta Selatan. Telp. (021) 57852892, 57852893 Fax. (021) 57852737, 57652822
PP JAKARTA YAYASAN MANTAB AL-HAMID Yayasan Mantab Al Hamid, Jl. Cilangkap Baru No. 1, Cilangkap, Cipayung, Jakarta Timur. Telp. - Fax. -
KCP JAKARTA GUDANG PELURU Jl. Kampung Melayu Besar (d/h. KH. Abdullah Syafei) Blok. A Kav. No. 27-A, Kel. Kebon Baru, Kec. Tebet, Jakarta Selatan. Telp. (021) 83708662, 83708663, 83708664 Fax. (021) 83708665
PP JAKARTA MUHAMMADIYAH DUREN SAWIT Jl. Delima II Gg. II No. 24, Rt/Rw 05/09, Duren Sawit, Jakarta Timur. Telp. - Fax. -
KCP JAKARTA K-LINK TOWER Gedung K-Link Tower, Jl. Jend. Gatot Subroto Kav. 59A, Jakarta Selatan. Telp. (021) 3048322, 30483281, 30483282 Fax. (021) 30483200 KC JAKARTA RAWAMANGUN Jl. Paus Raya No. 86, Rawamangun, Jakarta Timur. Telp. (021) 4711987 Fax. (021) 4711963 KCP JAKARTA CAKUNG Kompl. Pusat Perdagangan Ujung Menteng, Jl. Hamengkubuwono IX KM. 25 Blok B No. 15, Cakung, Jakarta Timur. Telp. (021) 46802224, 46802225 Fax. (021) 46802228 KCP JAKARTA KLENDER Jl. Teratai Putih Raya No. 26 Blok 28, Kel. Malaka Jaya, Kec. Duren Sawit, Jakarta Timur. Telp. (021) 86608567 Fax. (021) 86611439 KCP JAKARTA UTAN KAYU Jl. Utan Kayu No. 49A, Jakarta Timur. Telp. (021) 85913922, 85913925 Fax. (021) 85913209
KK JAKARTA PELABUHAN TANJUNG PRIOK Gedung Mega Enggano, Jl. Enggano Blok A No. 5T, Tanjung Priok, Jakarta Utara. Telp. (021) 43907746, 43907732 Fax. (021) 43907733
KCP JAKARTA PULO GADUNG Jl. Bekasi Raya Blok 8-I Kaveling No. 7, Cakung, Jakarta Timur. Telp. (021) 46800746 Fax. (021) 46801198
KK JAKARTA PENGADILAN AGAMA Jl. Plumpang Semper No. 5, Kel. Tugu Selatan, Kec. Koja, Jakarta Utara. Telp. (021) 4370047 Fax. (021) 4370042
KCP JAKARTA CIPINANG JAYA Jl. Cipinang Jaya No. 11B-11C, Kel. Cipinang Besar Selatan, Kec. Jatinegara, Jakarta Timur. Telp. (021) 85918973, 85918974, 85918975 Fax. (021) 85919855
KC JAKARTA SAHARJO Jl. Minangkabau No. 39, Pasar Manggis Setiabudi, Jakarta Selatan. Telp. (021) 8308768, 8292824, 8357309 Fax. (021) 8308769, 8357310
KCP POS JAKARTA TIMUR Kantor Pos Jakarta Timur, Jl. Pemuda No. 79, Kel. Jati, Kec. Pulo Gadung, Jakarta Timur. Telp. (021) 29377994 Fax. (021) 29377993
KCP JAKARTA RASUNA SAID Ario Bimo Central Building, Jl. H.R. Rasuna Said X-2 Kavling 5, Jakarta Selatan. Telp. (021) 5225961, 5225963 Fax. (021) 5225954
PP JAKARTA PERG. MUHAMADIYAH TEBET Jl. Tebet Timur Raya No. 565, Tebet, Jakarta Selatan. Telp. (021) 83704332 Fax. (021) 83704332
KCP JAKARTA TEBET Jl. Tebet Barat IX No. 31, Tebet, Jakarta Selatan. Telp. (021) 83796551, 83796549, 83792030 Fax. (021) 83796551, 83796549, 83792030
PP JAKARTA AR RIDHO Jl. Pondok Kelapa XII Blok G IV Rt/Rw 003/001, Pondok Kelapa, Duren Sawit, Jakarta Timur. Telp. (021) 86906673, 86608567 Fax. -
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PP PENGADILAN JAKARTA SELATAN Pengadilan Agama Jakarta Selatan, Jl. Harsono RM No. 1, Ragunan, Pasar Minggu, Jakarta Selatan. Telp. - Fax. PP BEKASI PONPES AT TAQWA Ponpes At Taqwa, Jl. Pesantren At Taqwa, Kampung Ujung Harapan, Kec. Babelan, Kab. Bekasi, Jawa Barat. Telp. - Fax. PP JAKARTA MUHAMMADIYAH KRAMAT JATI PC Muhammadiyah Kramat Jati, Jl Dewi Sartika No. 316A RT 008/04, Kel. Cawang, Kec. Kramat Jati, Jakarta Timur. Telp. - Fax. KC JAKARTA KEBON JERUK Jl. Raya Kebon Jeruk, RT 0010/01, Kel. Kebon Jeruk, Kec. Kebon Jeruk, Jakarta Barat. Telp. (021) 53662464, 53662465, 53662467 Fax. (021) 53662471, 53662472 KCP JAKARTA KEDOYA Rukan Golden Green No. 9, Jl. Panjang Kedoya Utara, Jakarta Barat. Telp. (021) 58302309, 58351053, 58351054 Fax. (021) 56943609 KCP JAKARTA TANJUNG DUREN Jl. Tanjung Duren Raya No. 123, Kel. Tanjung Duren Selatan, Kec. Grogol Petamburan, Jakarta Barat. Telp. (021) 5632891, 56942709, 56942710 Fax. (021) 56964233 KCP JAKARTA DURI KOSAMBI Perumahan Taman Semanan Indah Blok G No. 7, Jl. Darma Kencana, Duri Kosambi, Cengkareng, Jakarta Barat. Telp. (021) 5450811, 54396002, 54390485 Fax. (021) 54361204 KCP JAKARTA JOGLO Rukan Puri Botanical Residen Blok I. 10 No. 26-27, Joglo, Kembangan, Jakarta Barat. Telp. (021) 58900082, 58900083, 58900084 Fax. (021) 58900085 KCP JAKARTA DAAN MOGOT Rukan Green Mansion Blok A No. 12, Jl. Daan Mogot Raya Km. 10, Kel. Kedaung Kaliangke, Kec. Cengkareng, Jakarta Barat. Telp. (021) 29025380, 29025381, 29025382 Fax. (021) 29025386
PT Bank Syariah Mandiri
KCP JAKARTA MERUYA Jl. Meruya Ilir No. 36 RT 009/02, Kel. Srengseng, Kec. Kembangan, Jakarta Barat. Telp. (021) 58900468, 58900469, 58900470 Fax. (021) 58900471
PP DEPOK AL HAMIDIYAH SJAICHU Yayasan Al Hamidiyah, Jl. Raya Sawangan Km.2 No. 12, Pancoranmas, Depok, Jawa Barat. Telp. - Fax. -
KCP JAKARTA PETUKANGAN Jl. Ciledug Raya No. 12C RT 001/03, Kel. Petukangan Selatan, Kec. Pesanggrahan, Jakarta Selatan. Telp. (021) 73880303 Fax. (021) 7352144
PP JAKARTA PURI RS. Puri Mandiri Kedoya, Jl. Raya Kedoya No. 2, Jakarta Barat. Telp. (021) 58303052 Fax. (021) 58303052
KC JAKARTA KELAPA GADING Komplek Graha Bulevar Blok KGC No. A-02 dan A-03, Jl. Boulevard Kelapa Gading, Kel. Kelapa Gading Timur, Kec. Kelapa Gading, Jakarta Utara. Telp. (021) 29375262, 29375261 Fax. (021) 29375197, 29375198
KC JAKARTA CIBUBUR Ruko Citra Gran Blok R-2 No. 8-9, Jl. Raya Alternatif, Cibubur, Jakarta Timur. Telp. (021) 84300107, 84300108, 8449778 Fax. (021) 84590918
KC DEPOK Ruko Depok Mas Blok A1-2, Jl. Margonda Raya No. 42, Depok, Jawa Barat. Telp. (021) 7765231, 7765251, 7765289, 77213804 Fax. (021) 77202905, 77203598 KCP DEPOK MARGONDA Jl. Margonda Raya No. 499, RT/RW 004/07, Kel. Pondok Cina, Kec. Beji, Kota Depok, Jawa Barat. Telp. 78882142, 78888213 Fax. (021) 78882141 KCP DEPOK CIMANGGIS Jl. Raya Bogor KM 31, Pasar Cisalak, Cimanggis, Depok, Jawa Barat. Telp. (021) 87712625, 87718007, 87710661 Fax. (021)87720017 KCP DEPOK SAWANGAN Ruko Bukit Sawangan Indah Blok F2 No. 3, Jl. Raya Parung, Sawangan, Depok, Jawa Barat. Telp. (0251) 8601771, 70628284 Fax. (0251) 8619609 KCP DEPOK DUA Jl. Raya Tole Iskandar No. 29E, Sukmajaya, Depok, Jawa Barat. Telp. (021) 77835544, 77824466, 77825588 Fax. (021) 77835599 KCP DEPOK KELAPA DUA Komplek Ruko Depok, Jl. Raya Akses UI No. 9B & 9C, Kelapa Dua, Depok, Jawa Barat. Telp. (021) 87720737, 87707799, 87706916 Fax. (021) 87720741 KCP DEPOK NUSANTARA Jl. Nusantara Raya No. 110, Depok Jaya, Pancoran Mas, Depok, Jawa Barat. Telp. (021) 77218797, 77218870, 7776682 Fax. (021) 77218799 KCP JAKARTA GANDARIA Jl. Raya Bogor Km. 28 No. 30, RT. 004/07, Kel. Pekayon, Kec. Pasar Rebo, Jakarta Timur. Telp. (021) 87702025 Fax. (021) 87702141 KCP DEPOK FMIPA - UI Komplek Fakultas MIPA Universitas Indonesia, Depok, Jawa Barat. Telp. (021) 78849007, 77211981 Fax. (021) 78849164 PP DEPOK YAYASAN PENDIDIKAN NURUL FIKRI Gedung SDIT-SMPIT Nurul Fikri, Jl. Lucky Abadi RT. 07/07 No. 68, Kampung Areman, Kel. Tugu, Kec. Cimanggis, Depok, Jawa Barat. Telp. (021) 8724729 Fax. (021) 8724729
PT Bank Syariah Mandiri
KCP JAKARTA RAWASARI Jl. Rawasari Selatan No. 18 Blok C1, Jakarta Pusat. Telp. (021) 42800166 Fax. (021) 42800114 KCP JAKARTA GADING ORCHARD Jl. Kelapa Hibrida Raya Blok PF No. 18, Jakarta Utara. Telp. (021) 4534496, 4534497 Fax. (021) 4519899 KCP JAKARTA ARTHA GADING Jl. Boulevard Artha Gading, Sentra Bisnis Artha Gading Blok A-6 A-7, Kec. Kelapa Gading, Jakarta Utara. Telp. (021) 45874552 Fax. (021) 45874553 KCP JAKARTA GADING BOULEVARD Jl. Boulevard Barat Blok LC 6 No. 27, Kel. Kelapa Gading Barat, Kec. Kelapa Gading, Jakarta Utara. Telp. (021) 4533515 Fax. (021) 4533516 KC JAKARTA PONDOK KELAPA Ruko Komplek Billy & Moon Blok E No. 5A-5B, Jl. Raya Kalimalang, Pondok Kelapa, Jakarta Timur. Telp. (021) 86903501 Fax. (021) 86903502 KCP JAKARTA PONDOK BAMBU Jl. Pahlawan Revolusi No. 17C, Pondok Bambu, Jakarta Timur. Telp. (021) 70332098, 86613848 Fax. (021) 8611927 KCP BEKASI JATIBENING Ruko De Minimalis Kav. No. 5-6, Jl. Caman Raya, Kel. Jatibening, Bekasi, Jawa Barat. Telp. (021) 84974355 Fax. (021) 84975177 KCP JAKARTA PANGKALAN JATI Komplek Ruko Kalimalang Mas Building Blok E7 No. B1-B2, Jl. Raya Kalimalang, Kel. Pondok Bambu, Kec. Duren Sawit, Jakarta Timur. Telp. (021) 86600011 Fax. (021) 86600205 KC JAKARTA CIPULIR Jl. Ciledug Raya Cipulir No. 123E, Jakarta Selatan. Telp. (021) 7244664, 72786414, 72786361 Fax. (021) 72786360 KCP JAKARTA KEBAYORAN LAMA Jl. Kebayoran Lama Raya No. 182, Cipulir, Kebayoran Lama, Jakarta Selatan. Telp. (021) 7210627, 7210634, 7210679 Fax. (021) 7237913
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KK BOGOR KOTA WISATA Perumahan Kota Wisata Ruko Sentra Eropa Blok G No. 3, Kel. Ciangsana, Kec. Gunung Putri, Kab. Bogor, Jawa Barat. Telp. (021) 84939097 Fax. (021) 84939331 KC TANGERANG BINTARO Bintaro Trade Center, Jl. Jend. Sudirman Blok A1 No. 7 - 8, Bintaro Sektor 7, Pondok Aren, Tangerang, Banten. Telp. (021) 7450120, 7453301, 7450296, 7450297 Fax. (021) 7450116 KCP TANGERANG BINTARO SEKTOR III Bintaro Jaya Sektor IIIA, Blok DD 10/1, Jl. Mandar XX, Tangerang, Banten. Telp. (021) 7343970, 7343969, 7343913, 7343920 Fax. (021) 73883936 KCP TANGERANG GRAHA RAYA Ruko Venice Blok JF No. 1-2, Jl. Ruko Venice, Kel. Pakujaya, Kec. Serpong Utara, Kab. Tangerang, Banten. Telp. (021) 5397800, 5397978, 5398090 Fax. (021) 5398125 KK JAKARTA MASJID JAMI BINTARO JAYA Jl. Merpati V Blok P.3 No. 9, Kel. Bintaro, Kec. Pesanggrahan, Jakarta Selatan. Telp. (021) 7359363, 7359352 Fax. (021) 7359361 KC BEKASI PONDOK GEDE Jl. Jatiwaringin Raya No. 110 D-E, Pondok Gede, Kota Bekasi, Jawa Barat. Telp. (021) 84970255, 84900806, 84900810 Fax. (021) 84970265 KCP BEKASI JATIASIH Ruko SBS. No. 27 C-D, Jl. Raya Jatiasih, Kel. Jatiasih, Kec. Jatiasih, Bekasi, Jawa Barat. Telp. (021) 82426534, 82426488, 82433725 Fax. (021) 82433736 KCP POS BEKASI PONDOK GEDE Kantor Pos Pondok Gede, Jl. Jati Makmur No. 12, Kel. Jati Makmur, Kec. Pondok Gede, Kota Bekasi, Jawa Barat. Telp. (021) 36050609 Fax. KC JAKARTA SALEMBA Jl. Kramat Raya No. 160 RT 004/02, Jakarta Pusat. Telp. (021) 3925423 Fax. (021) 3925427 KCP JAKARTA KRAMAT RAYA Jl. Kramat Raya No. 23 C, Jakarta Pusat. Telp. (021) 3900349, 3900350, 3901265, 3904715 Fax. (021) 31924660
COMPANY DATA KCP JAKARTA CEMPAKA PUTIH Komplek Perkantoran Cempaka Putih Permai Blok A No. 24, Jl. Letjend. R. Soeprapto Kav. 10, Jakarta Pusat. Telp. (021) 4229015, 4263402 Fax. (021) 4202258 KK JAKARTA RSIJ CEMPAKA PUTIH Komplek. RSIJ. Cempaka Putih, Jl. Cempaka Putih Tengah I/1, Jakarta Pusat. Telp. (021) 4251779 Fax. (021) 4251785 KC CIBINONG Ruko Graha Cibinong Blok D No. 2, Jl. Raya Bogor KM 43, Cibinong, Bogor, Jawa Barat. Telp. (021) 87915703, 87915704 Fax. (021) 87919008 KCP BOGOR CITEUREUP Jl. Mayor Oking No. 5 D, Citeureup, Bogor, Jawa Barat. Telp. (021) 87941450, 87943823 Fax. (021) 87941446 KCP BOGOR SENTUL Bellanova Country Mall Ruko Blok RK 8 No. 12-15, Jl. MH. Thamrin, Kel. Cipambuan, Kec. Babakan Madang, Kab. Bogor, Jawa Barat. Telp. (021) 87922493, 87922495 Fax. (021) 87922496 KCP POS CIBINONG Kantor Pos Cibinong, Jl. Tegar Beriman Blok B-4 No. 7, Kel. Pakansari, Kec. Cibinong, Kab. Bogor, Jawa Barat. Telp. (021) 87916208 Fax. (021) 87916208 PP PEMDA CIBINONG PKPRI Kabupaten Bogor, Komplek Pemda Cibinong, Jl. Bersih, Desa Tengah, Kab. Bogor, Jawa Barat. Telp. - Fax. KC SERANG Jl. Ahmad Yani No. 175 C-D, Kel. Sumur Pecung, Kec. Serang, Kab. Serang, Banten. Telp. (0254) 222984, 210191 Fax. (0254) 222985 KCP SERANG CIKANDE Komplek Rumah Toko Modern Blok C No. 7-8, Nambo Ilir, Cikande, Serang, Banten. Telp. (0254) 402525 Fax. (0254) 402522 KCP SERANG TIMUR Jl. Raya Jakarta Km. 9 RT. 004/013, Kel. Citerep, Kec. Ciruas, Kab. Serang, Banten. Telp. (0254) 280882, 280884 Fax. (0254) 280878 KCP SERANG KOTA Jl. Maulana Hasanudin No. 17, RT 001/006, Kel. Kotabaru, Kec. Serang, Kota Serang, Banten. Telp. (0254) 227112, 227113, 227115 Fax. (0254) 227114
KCP POS SERANG Kantor Pos Serang, Jl. Veteran No. 3, Kel. Kotabaru, Kec. Serang, Kab. Serang, Banten. Telp. - Fax. KC JAKARTA MANGGA DUA Jl. Mangga Dua Raya Blok E 4 Kav No. 3, Jakarta Utara. Telp. (021) 6128715, 6128716 Fax. (021) 6128615 KCP JAKARTA PINANGSIA Jl. Pinangsia II No. 3B-3C, Kel. Pinangsia, Kec. Taman Sari, Jakarta Barat. Telp. (021) 62303393 Fax. (021) 6911113 KCP JAKARTA PANGERAN JAYAKARTA Jl. Pangeran Jayakarta No. 117/A-3, Kel. Mangga Dua Selatan, Kec. Sawah Besar, Jakarta Pusat. Telp. (021) 62300700 Fax. (021) 62305640 KCP JAKARTA ROA MALAKA Jl. Pasar Pagi No. 43, Kel. Roa Malaka, Kec. Tambora, Jakarta Barat. Telp. (021) 6900055 Fax. (021) 6900057 KC JAKARTA ROXY Pusat Niaga Roxy Mas Blok B1 No. 8, Jl. K. H. Hasyim Ashari 125, Jakarta Pusat. Telp. (021) 6330939 Fax. (021) 6337116, 6337113 KCP JAKARTA TOMANG Jl. Tomang Raya No. 10, Kel. Jatipulo, Kec. Palmerah, Jakarta Barat. Telp. (021) 5680019, 5604066 Fax. (021) 5683392 KK JAKARTA TRISAKTI Universitas Trisakti Kampus A Gedung i, Jl. Kyai Tapa No. 1, Jakarta Barat. Telp. (021) 56943139, 56943094 Fax. (021) 56943140 KC JAKARTA CENGKARENG Ruko Mutiara Taman Palem Blok A2 No. 9-10, Jl. Kamal Raya Outering Ring Road, Cengkareng, Jakarta Barat. Telp. (021) 54353515, 54353540 Fax. (021) 54353155 KCP JAKARTA KALIDERES Ruko Perum Citra II Niaga Blok A No. 26, Kalideres, Jakarta Barat. Telp. (021) 54392124, 54392132, 54392191, 54374588 Fax. (021) 54372327 KC TANGERANG BSD Ruko BSD Blok RQ No. 101, Serpong, Tangerang, Banten. Telp. (021) 5386900 Fax. (021) 5386898
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KCP TANGERANG BSD Ruko Golden Madrid Blok B/6, Jl. Letjen Soetopo, Sektor XIV Bumi Serpong Damai, Tangerang, Banten. Telp. (021) 53163209, 53163210, 53163211 Fax. (021) 53160411 KC JAKARTA KALIBATA Jl. Raya Pasar Minggu No. 75, Kel. Kalibata, Kec. Pancoran, Jakarta Selatan. Telp. (021) 7940323, 7940341, 7940353 Fax. (021) 7940420 KCP JAKARTA PASAR MINGGU Jl. Raya Lenteng Agung No. 26, Jakarta Selatan. Telp. (021) 78833626, 7892545. Fax. (021) 7806973 KCP JAKARTA CILILITAN Jl. Raya Bogor No. 1, Kramat Jati, Jakarta Timur. Telp. (021) 80878616, 70982824 Fax. (021) 80878617 KCP JAKARTA DEWI SARTIKA Jl. Dewi Sartika Raya No. 139 B, Cawang, Jakarta Timur. Telp. (021) 80872793, 80872794 Fax. (021) 8017404 KC JAKARTA GATOT SUBROTO Gedung Menara Jamsostek, Menara Utara Lt. 1, Jl. Jendral Gatot Subroto No. 38, Jakarta Selatan. Telp. (021) 2523980 Fax. (021) 2523981 KC JAKARTA HAYAM WURUK Jl. Hayam Wuruk No. 101, Kec. Tamansari, Jakarta Barat. Telp. (021) 6259000 Fax. (021) 6297427 KCP JAKARTA PECENONGAN Jl. Pecenongan Raya No. 3-A RT/RW. 001/03, Kel. Kebon Kelapa, Kec. Gambir, Jakarta Pusat. Telp. (021) 34831188 Fax. (021) 3507476 KCP JAKARTA GAJAH MADA Jl. Gajah Mada No. 16, Petojo Utara, Gambir, Jakarta Pusat. Telp. (021) 6322208 Fax. (021) 6322206, 6322207 KC JAKARTA SUNTER AGUNG Perumahan Griya Inti Sentosa Blok A1 Kavling No. 23-24, Kel. Sunter Agung, Kec. Tanjung Priok, Jakarta Utara. Telp. (021) 65302005, 65301550 Fax. (021) 65301982 KCP JAKARTA SUNTER Jl. Danau Sunter Blok F. 21, Kaveling No. 5, Kel. Sunter Agung, Kec. Tanjung Priok, Jakarta Utara. Telp. (021) 6411078, 65837827 Fax. (021) 65837826 KC JAKARTA SUDIRMAN Sequis Plaza Ground Floor, Jl. Jend. Sudirman Kav. 25, Jakarta Selatan. Telp. (021) 5204792, 5204793 Fax. (021) 5204802, 5204804
PT Bank Syariah Mandiri
KCP JAKARTA BENDUNGAN HILIR Jl. Bendungan Hilir Raya No. 37, Jakarta Pusat. Telp. (021) 5725779, 5703644 Fax. (021) 57900825 KC TANGERANG CILEDUG Jl. HOS Cokroaminoto No. 69, Ciledug, Tangerang, Banten. Telp. (021) 73458147, 73458148, 73458149 Fax. (021) 73458150 KCP TANGERANG KARANG TENGAH Pertokoan Bumi Permata Indah Blok R1/26, Jl. Raden Saleh, Kel. Karang Mulya, Kec. Ciledug, Kota Tangerang, Banten. Telp. (021) 58905234 Fax. (021) 58905235 KC JAKARTA JATINEGARA Perkantoran Mitra Matraman Blok A1 No. 8-9, Jl. Matraman Raya No. 148, Jakarta Timur. Telp. (021) 85904866 Fax. (021) 85905634 KCP JAKARTA JATINEGARA TIMUR Jl. Jatinegara Timur No. 38, Kel. Bali Mester, Kec. Jatinegara, Jakarta Timur. Telp. (021) 29360005 Fax. (021) 29360004 KCP POS JATINEGARA Kantor Pos Jatinegara, Jl. Matraman Raya No. 222, Kel. Balimester, Kec. Jatinegara, Jakarta Timur. Telp. - Fax. KC JAKARTA KEMBANGAN Jl. Puri Kencana Blok K6 No. 1M & 1N, Kel. Kembangan Selatan, Kec. Kembangan, Jakarta Barat. Telp. (021) 58351521, 58351522 Fax. (021) 58351523 KC TANGERANG CIPUTAT Jl. Ir. H. Juanda No. 111, RT 006/001, Kel. Cempaka Putih, Kec. Ciputat Timur, Kota Tangerang Selatan, Banten. Telp. (021) 7425267 Fax. (021) 7423018 KCP POS TANGERANG CIPUTAT Kantor Pos Ciputat, Jl. RE Martadinata No. 17, Kel. Pondok Cabe Udik, Kec. Pamulang, Kota Tangerang Selatan, Banten. Telp. (021) 7492391 Fax. PP TANGERANG MADRASAH PEMBANGUNAN UIN Jl. Ibnu Taimia IV Komplek UIN Jakarta, Ciputat, Kota Tangerang Selatan, Banten. Telp. (021) 7444472 Fax. KC JAKARTA PLUIT Kawasan Emporium Mall Pluit, Komplek CBD Pluit Blok S-17, Jl. Raya Pluit Selatan No. 1, Kel. Penjaringan, Kec. Penjaringan, Jakarta Utara. Telp. (021 ) 29388018, 29388019, 29388020, 29388021 Fax. (021) 29388021, 66673079
PT Bank Syariah Mandiri
KC BEKASI CIKARANG Ruko Sentra Cikarang, Jl. Cikarang Cibarusan BI. B No. 2, Cikarang, Kab. Bekasi, Jawa Barat. Telp. (021) 89902076, 89902077 Fax. (021) 89906765
REGION III KC BANDUNG Jl. Ir. H. Juanda No. 24, Kel. Citarum, Kec. Cibeunying, Bandung, Jawa Barat. Telp. (022) 84469443 Fax. (022) 4200011 KCP BANDUNG SETIA BUDI Jl. Setiabudi No. 169 D, Gegerkalong, Bandung, Jawa Barat. Telp. (022) 84469443 Fax. (022) 2000588 KCP SUMEDANG Jl. Pang. Geusan Ulun No. 115, Sumedang, Jawa Barat. Telp. (0261) 205557, 205559, 205544 Fax. (0261) 201993 KCP BANDUNG PAJAJARAN Jl. Pajajaran No. 89, Kel. Arjuna, Kec. Cicendo, Bandung, Jawa Barat. Telp. (022) 6125999, 6011741, 6011457 Fax. (022) 6125998 KCP BANDUNG BRAGA Jl. Braga No. 100 - 102, Bandung, Jawa Barat. Telp. (022) 4232007 Fax. (022) 4267872 KCP BANDUNG ASIA AFRIKA Jl. Asia Afrika No. 178, Kel. Paledang, Kec. Lengkong, Kota Bandung, Jawa Barat. Telp. (022) 4232302 Fax. (022) 4232303 KCP BANDUNG ANTAPANI Jl. Terusan Jakarta No. 138, Kec. Antapani, Kota Bandung, Jawa Barat. Telp. (022) 87241969 Fax. (022) 87241984 KCP BANDUNG SURAPATI Jl. Surapati No. 189, Kel. Cihaurgeulis, Kec. Cibeunying, Kota Bandung, Jawa Barat. Telp. (022) 2500900 Fax. (022) 2500518 KCP BANDUNG SURYA SUMANTRI Jl. Lemah Neundeut No. 8 A-3, Kel. Sukawarna, Kec. Sukajadi, Kota Bandung, Jawa Barat. Telp. (022) 2005184, 2005182 Fax. (022) 2005148 KK BANDUNG JAPATI Gd. Kantor Pusat PT. Telkom Indonesia, Jl. Japati No. 1, Bandung, Jawa Barat. Telp. (022) 7278394 Fax. (022) 7278508 KK BANDUNG RS AL ISLAM Jl. Soekarno Hatta No. 644, Kel. Manjahlega, Kec. Rancasari, Kota Bandung, Jawa Barat. Telp. (022) 7563235, 7500814 Fax. (022) 7560922
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PP GARUT STKIP Jl. Pahlawan No. 32, Kel. Sukagalih, Kec. Tarogong Kidul, Kab. Garut, Jawa Barat. Telp. - Fax. KC PEKALONGAN Jl. KH. Wahid Hasyim No. 11A, Kel. Kauman, Kec. Kota Pekalongan Timur, Kota Pekalongan, Jawa Tengah. Telp. (0285) 434911, 434912 Fax. (0285) 434894 KCP PEMALANG Jl. Jend. Sudirman No. 129, Pemalang, Jawa Tengah. Telp. (0284) 326048, 326049 Fax. (0284) 321291 KCP BATANG Jl. Jend. Sudirman No. 601, Batang, Jawa Tengah. Telp. (0285) 4495227 Fax. (0285) 4495233 KCP PEKALONGAN KAJEN Jl. Mandurejo No. 59, Kel. Nyamok, Kec. Kajen, Kab. Pekalongan, Jawa Tengah. Telp. (0285) 382061, 382062 Fax. (0285) 382063 KLS PEKALONGAN PEKAJANGAN STIKES Muhammadiyah, Jl. Raya Ambokembang No. 8, Pekalongan, Jawa Tengah. Telp. (0285) 785375 Fax. (0285) 785375 PP PEKALONGAN RSI. SITI KHODIJAH RS. Islam Siti Khodijah, Jl. Bandung No. 39-47, Pekalongan, Jawa Tengah. Telp. (0285) 421988 Fax. PP RSI PKU MUHAMMADIYAH PEKAJANGAN RSI PKU Muhammadiyah Pekajangan, Jl. Raya Ambokembang No. 42-43, Kedungwuni, Pekalongan, Jawa Tengah. Telp. - Fax. PP KEMENAG KAB. PEKALONGAN Jl. Krakatau No. 7, Kec. Kajen, Kab. Pekalongan, Jawa Tengah. Telp. - Fax. PP PEKALONGAN STAIN Jl. Kusuma Bangsa No. 9, Kota Pekalongan, Jawa Tengah. Telp. - Fax. KC SOLO Jl. Slamet Riyadi No. 388, Solo, Jawa Tengah. Telp. (0271) 710820 Fax. (0271) 742085, 742086 KCP KLATEN Jl. Pemuda No. 57, Ds. Bareng, Kec. Klaten Tengah, Kab. Klaten, Jawa Tengah. Telp. (0272) 327979 Fax. (0272) 328986
COMPANY DATA KCP SUKOHARJO SOLO BARU Jl. Raya Solo Permai Blok CA-61, Solo Baru, Sukoharjo, Jawa Tengah. Telp. (0271) 625255 Fax. (0271) 621003
KK SOLO ASSALAAM Jl. Garuda Mas No. 4, Pabelan Sukoharjo, Solo, Jawa Tengah. Telp. (0271) 719943 Fax. (0271) 719682
KCP SRAGEN Jl. Raya Sukowati No. 140, Kel. Sragen Kulon, Kec. Sragen, Jawa Tengah. Telp. (0271) 893096, 3022543 Fax. (0271) 893098
KK SOLO RS PKU MUHAMMADIYAH Jl Ronggowarsito No. 130 RT 004 RW 001, Timuran, Banjarsari, Surakarta, Jawa Tengah. Telp. (0271) 725059 Fax. (0271) 725059
KCP BOYOLALI Jl. Pandanaran No. 157, Boyolali, Jawa Tengah. Telp. (0276) 324763 Fax. (0276) 325354
PP SURAKARTA ASSALAM Pondok Pesantren Modern Islam ‘Assalam’ Kartasura - Sukoharjo, Kotak Pos 286, Surakarta, Jawa Tengah. Telp. (0271) 737432 Fax. (0271) 737432
KCP SUKOHARJO PALUR Jl. Raya Palur No. 307, Palur, Sukoharjo, Jawa Tengah. Telp. (0271) 821943, 821944 Fax. (0271) 826899
PP SUKOHARJO SMK MUHAMMADIYAH I Jl. Anggrek No. 2, Sukoharjo, Jawa Tengah. Telp. (0271) 592171 Fax. (0271) 592171
KCP SOLO PASAR KLIWON Jl. Kapten Mulyadi No. 228 D-E, Pasar Kliwon, Solo, Jawa Tengah. Telp. (0271) 656300, 652190 Fax. (0271) 656300 ext. 111
PP SURAKARTA UNS Jl. Ir. Sutami No. 36A, Kentingan, Surakarta, Jawa Tengah. Telp. - Fax. -
KCP SUKOHARJO KARTASURA Ruko Kartasura A No. 1, Jl. Raya Kartasura, Kartasura, Sukoharjo, Jawa Tengah. Telp. (0271) 784855, 784866 Fax. (0271) 780514
PP SURAKARTA AKBID MAMBA’UL ‘ULUM Jl. Ring Road Utara Km. 03, Tawangsari, Kec. Jebres, Kota Surakarta, Jawa Tengah. Telp. - Fax. -
KCP WONOGIRI Jl. Jend. Sudirman No. 138, Wonogiri, Jawa Tengah. Telp. (0273) 321574 Fax. (0273) 324058
KC PALEMBANG Jl. Demang Lebar Daun No. 8, Kel. Lorok Pakjo, Kec. Ilir Barat I, Kota Palembang, Sumatera Selatan. Telp. (0711) 421919, 415986 Fax. (0711) 419952
KCP SOLO URIP SUMOHARJO Jl. Urip Sumoharjo No. 71, Kepatihan Wetan, Jebres, Solo, Jawa Tengah. Telp. (0271) 647866 Fax. (0271) 647976
KCP LUBUK LINGGAU Jl. Yos Sudarso No. 97, Lubuk Linggau, Sumatera Selatan. Telp. (0733) 322224 Fax. (0733) 325668
KCP KARANGANYAR Jl. Raya Lawu No. 480, Jetak, RT. 02 RW. 12, Kel. Papahan, Kec. Tasikmadu, Kab. Karanganyar, Jawa Tengah. Telp. (0271) 6497023 Fax. (0271) 6497024
KCP PALEMBANG RADIAL Jl. Brigjend. H. M. Dhanie Effendi No. 2886-2887 (Radial), Palembang, Sumatera Selatan. Telp. (0711) 350160, 350245, 373883 Fax. (0711) 351444
KCP SURAKARTA PASAR KLEWER Jl. Yos Sudarso No. 221, Kel. Gajahan, Kec. Pasar Kliwon, Solo, Jawa Tengah. Telp. (0271) 646133, 631345 Fax. (0271) 664187 KCP SOLO NUSUKAN Jl. Kapten Piere Tendean No. 199, Kel. Nusukan, Kec. Banjarsari, Kota Surakarta, Jawa Tengah. Telp. (0271) 730094, 711595, 730685 Fax. (0271) 741495
KCP PALEMBANG KM 5 Jl. H. Kol Burlian No. 7 C, Km. 5, Palembang, Sumatera Selatan. Telp. (0711) 417045, 417478 Fax. (0711) 417068 KCP KAYU AGUNG Jl. Letnan Muchtar Saleh No. 98, Kel. Mangun Jaya, Kec. Kayu Agung, Kab. Ogan Komering Ilir, Sumatera Selatan. Telp. (0712) 323584 Fax. (0712) 323586
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KCP SUNGAI LILIN Jl. Raya Palembang-Jambi Km. 110 No. 001, Kec. Sungai Lilin, Kab. Musi Banyuasin, Sumatera Selatan. Telp. (0714) 7343026 Fax. (0714) 7343099 KCP PALEMBANG JAKABARING Jl. Ahmad Yani No. 5, Kel. Ulu, Kec. Seberang Ulu 1, Kota Palembang, Sumatera Selatan. Telp. (0711) 515484 Fax. (0711) 513601 KCP PALEMBANG SUDIRMAN Jl. Jend. Sudirman No. 80, Kel. 20 Ilir I, Kec. Ilir Timur I, Kota Palembang, Sumatera Selatan. Telp. (0711) 367868 Fax. (0711) 354184 KCP PALEMBANG PUSRI Jl. R. E. Martadinata No. 18 A, B, dan C, Kel. Sungai Buah (d/h 2 Ilir), Kec. Ilir Timur II, Kota Palembang, Sumatera Selatan. Telp. (0711) 5626333 Fax. (0711) 5625333 PP PALEMBANG RADIAL Jl. Brigjend. H. M. Dhanie Effendi (Radial) No.1429 C, Palembang, Sumatera Selatan. Telp. (0711) 350160, 350245 Fax. (0711) 351444 PP PALEMBANG UNIVERSITAS SJAKHYAKIRTI Universitas Sjakhyakirti, Jl. Sultan M. Mansyur, Kebon Gede 32 Ilir, Palembang, Sumatera Selatan. Telp. - Fax. KC CIREBON Jl. Dr. Cipto Mangunkusumo No. 89, Cirebon, Jawa Barat. Telp. (0231) 202760, 202092, 202093, 200423 Fax. (0231) 202067 KCP KUNINGAN Jl. Siliwangi No. 64, Kuningan, Jawa Barat. Telp. (0232) 875205, 875206 Fax. (0232) 875502 KCP INDRAMAYU JATIBARANG Jl. Mayor Dasuki No. 56, Kel. Jatibarang, Kec. Jatibarang, Kab. Indramayu, Jawa Barat. Telp. (0234) 356527, 356528 Fax. (0234) 351616 KCP KADIPATEN Jl. Raya Timur II, Dawuan, Kadipaten, Kab. Majalengka, Jawa Barat. Telp. (0233) 661322, 661400 Fax. (0233) 661414 KCP CIREBON PLERED Jl. Raya Cirebon Bandung No. 30 Blok E & F, Desa Tegalsari, Kec. Plered, Kab. Cirebon, Jawa Barat. Telp. (0231) 322898 Fax. (0231) 322897
PT Bank Syariah Mandiri
KCP INDRAMAYU Jl. Jend. Sudirman No. 176, Indramayu, Kab. Indramayu, Jawa Barat. Telp. (0234) 275052, 275134 Fax. (0234) 273435 KCP CIREBON CILEDUG Jl. Letjen S. Parman No. 13, Blok Wage Rt/Rw 06/04, Desa Jati Seeng, Kab. Cirebon, Jawa Barat. Telp. (0231) 663562, 663564 Fax. (0231) 663563 KCP INDRAMAYU PATROL Jl. Raya Patrol Rt 09, Rw 04, Kel. Patrol Lor, Kec. Sukra, Kab. Indramayu, Jawa Barat. Telp. (0234) 612627, 612682, 611447 Fax. (0234) 612627 KCP CIREBON SILIWANGI Jl. Siliwangi No. 102, Cirebon, Jawa Barat. Telp. (0231) 225485, 225486, 225487, 225489 Fax. (0231) 225484 PP CIREBON AL AZHAR Perguruan Islam Al-Azhar, Jl. Kampung Melati No. 7, Kesambi, Cirebon, Jawa Barat. Telp. (0231) 231035 Fax. PP CIREBON KEMENTRIAN AGAMA SUMBER Jl. Sunan Derajat No. 5, Komplek Perkantoran Pemda, Kab. Cirebon, Jawa Barat. Telp. - Fax. PP KUNINGAN KEMENAG Kantor Kemenag Kab. Kuningan, Jl. Otto Iskandardinata No. 87, Kab. Kuningan, Jawa Barat. Telp. (0232) 873119 Fax. KC PONTIANAK Jl. Sultan Abdurrachman No. 66A, Kota Pontianak, Kalimantan Barat. Telp. (0561) 745004 Fax. (0561) 744774 KCP SINTANG Jl. M.T. Haryono No. 55, Sintang, Kalimantan Barat. Telp. (0565) 23322 Fax. (0565) 23232 KCP NANGA PINOH Jl. Juang Blok C No. 03, Nanga Pinoh, Melawi, Kalimantan Barat. Telp. (0568) 22133 Fax. (0568) 22757 KCP PONTIANAK KOTA Jl. Diponegoro No. 95, Pontianak, Kalimantan Barat. Telp. (0561) 737133 Fax. (0561) 737376
PT Bank Syariah Mandiri
KCP PONTIANAK SIDAS Jl. Jenderal Urip Soemoharjo No. 33, Rt. 004 Rw. 02, Kel. Kampung Tengah, Kec. Pontianak Kota, Kota Pontianak, Kalimantan Barat. Telp. (0561) 746110 Fax. (0561) 746185 KCP SANGGAU Jl. Sudirman No. 3, Desa Belapati, Kec. Kapuas, Kab. Sanggau, Kalimantan Barat. Telp. (0564) 22311, 22500 Fax. (0564) 22663 KCP PONTIANAK SIANTAN Jl. Khatulistiwa No.3-4, Kel. Siantan Hilir, Kec. Pontianak Utara, Kota Pontianak, Kalimantan Barat. Telp. (0561) 881399, 881699 Fax. (0561) 881398 KCP PONTIANAK AHMAD YANI Jl. Ahmad Yani No. 61 E & F, Kel. Bangka Belitung, Kec. Pontianak Selatan, Kota Pontianak, Kalimantan Barat. Telp. (0561) 583850 Fax. (0561) 586048 KK PONTIANAK TANJUNG RAYA Jl. Tanjung Raya II No. 2, Kel. Tambelan Sampit, Kec. Pontianak Timur, Kota Pontianak, Kalimantan Barat. Telp. (0561) 6591171 Fax. (0561) 6591173 PP PONTIANAK UNIVERSITAS MUHAMMADIYAH Jl. Ahmad Yani, Pontianak, Kalimantan Barat. Telp. (0561) 574656 Fax. (0561) 574656 PP PONTIANAK UNIVERSITAS TANJUNG PURA Jl. Ahmad Yani, Pontianak, Kalimantan Barat. Telp. (0561) 743465 Fax. (0561) 743465 PP PONTIANAK POLITEKNIK Kampus Politeknik Negeri, Jl. A. Yani No. 52, Pontianak, Kalimantan Barat. Telp. - Fax. KC YOGYAKARTA Jl. Cik Dik Tiro No. 1, Yogyakarta. Telp. (0274) 555022, 555024 Fax. (0274) 555021 KCP YOGYAKARTA KALIURANG Jl. Kaliurang Km. 6,4 No. B 6-A, Yogyakarta. Telp. (0274) 887041, 887053 Fax. (0274) 887047 KCP WONOSARI Jl. Sumarwi No. 30, Wonosari, Gunung Kidul, Yogyakarta. Telp. (0274) 391854 Fax. (0274) 391181
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KCP YOGYAKARTA KATAMSO Jl. Brigjen Katamso No. 160, Keparakan, Mergangsan, Yogyakarta. Telp. (0274) 412424, 418084 Fax. (0274) 377290 KCP AMBARUKMO Jl. Laksda Adi Sucipto No. 167, Kp. Ambarukmo Blok I, Caturtunggal, Depok, Sleman, Yogyakarta. Telp. (0274) 484202, 4533873 Fax. (0274) 484859 KCP GODEAN Ruko Gading Mas, Jl. Godean Km. 4,4 No. 8 A, Sleman, Yogyakarta. Telp. (0274) 626027, 617798 Fax. (0274) 617798 KCP YOGYAKARTA KOTAGEDE Jl. Gedong Kuning Selatan No. 5, Purbayan, Kotagede, Yogyakarta. Telp. (0274) 4438989, 4439102 Fax. (0274) 4439200 KCP YOGYAKARTA WIROBRAJAN Jl. HOS Cokroaminoto No. 33A, Yogyakarta. Telp. (0274) 5304007 Fax. (0274) 5304010 KCP BANTUL Jl. Bantul Km. 10 No. 29, Melikan Lor, Desa Bantul, Kec. Bantul, Kab. Bantul, Yogyakarta. Telp. (0274) 367970 Fax. (0274) 367225 KCP SLEMAN Jl. Raya Magelang Km. 10 No. 39, Bangunrejo, Kel. Tridadi, Kec. Sleman, Kab. Sleman, Yogyakarta. Telp. (0274) 864200 Fax. (0274) 864454 KCP POS YOGYAKARTA Kantor Pos Yogyakarta, Jl. Panembahan Senopati No. 2, Yogyakarta. Telp. - Fax. KK BANTUL UMY Kampus Terpadu UMY Yogyakarta, Gd AR Fachruddin Rektorat B, Jl. Lingkar Barat, Tamantirto Kasihan, Bantul, Yogyakarta. Telp. (0274) 450215 Fax. (0274) 387655 KK YOGYAKARTA UII Universitas Islam Indonesia, Ruang PPKF Lt. I, Fakultas Teknik Sipil, Yogyakarta. Telp. (0274) 898412, 898549 Fax. (0274) 898564 KK BANTUL Jl. Jend. Sudirman No. B1-2, Bantul, Yogyakarta. Telp. (0274) 367861, 367871 Fax. (0274) 367857
COMPANY DATA PP YOGYAKARTA JIH Jogja International Hospital (JIH), Jl. Ring Road Utara, No. 160, Depok, Sleman, Yogyakarta. Telp. (0274) 4463052 Fax. (0274) 4463025 PP YOGYAKARTA UIN SUNAN KALIJAGA Komp. UIN Sunan Kalijaga, Jl. Marsda Adi Sucipto, Gd. Kampus Service Center UIN, Yogyakarta. Telp. (0274) 519742 Fax. (0274) 519742 PP YOGYAKARTA UNIVERSITAS AHMAD DAHLAN Universitas Ahmad Dahlan, Jl. Kapas No. 9, Semaki, Yogyakarta. Telp. (0274) 560310 Fax. (0274) 511829 PP YOGYAKARTA UAD II Universitas Ahmad Dahlan, Jl. Pramuka No. 42 Sidikan, Yogyakarta. Telp. - Fax. KC JAMBI Jl. Jend. Gatot Subroto No. 127 A-B, Kel. Sungai Asam, Kec. Pasar Jambi, Kota Jambi, Jambi. Telp. (0741) 27730, 27788 Fax. (0741) 27733 KCP MUARA BUNGO Jl. Prof. Muhammad Yamin, SH No. 21, Kab. Muara Bungo, Jambi. Telp. (0747) 323077 Fax. (0747) 322996 KCP JAMBI SIPIN Jl. Kapt. Bakaruddin No. 72, Jambi. Telp. (0741) 669910, 670220 Fax. (0741) 667533 KCP SAROLANGUN Jl. Lintas Sumatera No. 34, Simpang III Kantor Bupati Sarolangun, Kel. Sarolangun Kembang, Kec. Sarolangun, Kab. Sarolangun, Jambi. Telp. (0745) 92666 Fax. (0745) 92229 KCP JAMBI JELUTUNG Jl. Hayam Wuruk No. 243, Kel. Jelutung, Kec. Jelutung, Kota Jambi, Jambi. Telp. (0741) 7551414, 7551122, 7554774 Fax. (0741) 7555444 KCP KUALA TUNGKAL Jl. Jend. Sudirman No. 175, Kel. Tungkal IV Kota, Kec. Tungkal Ilir, Kab. Tanjung Jabung Barat, Jambi. Telp. (0742) 21313 Fax. (0742) 21771 KCP MUARA BULIAN Jl. Lintas Muara Bulian-Muara Tembesi Km. 5 No. 17, Kel. Kampung Baru, Kec. Muara Tembesi, Kab. Batanghari, Jambi. Telp. (0743) 7325055 Fax. (0743) 7325409
KK JAMBI IAIN STS Komplek IAIN Sulthan Thaha Saifuddin, Jl. Arif Rahman Hakim, Kel. Simp. IV Sipin, Telanaipura, Kota Jambi, Jambi. Telp. (0741) 668069 Fax. (0741) 668069 KC BANDARLAMPUNG Jl. R.A Kartini No. 99C - 99D, Bandarlampung, Lampung. Telp. (0721) 264088, 264188, 264788 Fax. (0721) 263588 KCP PRINGSEWU Jl. Ahmad yani No. 130, Pringsewu, Kab. Tanggamus, Lampung. Telp. (0729) 22233 Fax. (0729) 23574 KCP BANDARLAMPUNG KEDATON Jl. Teuku Umar No. 6 A-B, Kedaton, Bandarlampung, Lampung. Telp. (0721) 789600, 785111 Fax. (0721) 783207 KCP BANDARLAMPUNG PANJANG Jl. Yos Sudarso No. 1 A-B, Kel. Pidada, Kec. Panjang, Kodya. Bandarlampung, Lampung. Telp. (0721) 341777, 342777 Fax. (0721) 31172 KCP KALIANDA Jl. Raden Intan No. 55 E-G, Kalianda, Lampung Selatan, Lampung. Telp. (0727) 323366, 323367 Fax. (0727) 323399 KCP BANDARLAMPUNG TELUK BETUNG Jl. Laksamana Malahayati No. 1 E/F, Kel. Teluk Betung, Kec. Teluk Betung Selatan, Kota Bandarlampung, Lampung. Telp. (0721) 480111, 486773 Fax. (0721) 486777 KK KALIREJO Jl. Jend. Sudirman No. 5, Desa Kalirejo, Kec. Kalirejo, Kab. Lampung Tengah, Lampung. Telp. (0729) 3703777 Fax. (0729) 370370 PP PRINGSEWU STKIP MUHAMMADIYAH Jl. Makam KH. Ghalib No. 112, Pringsewu, Kab. Tanggamus, Lampung. Telp. - Fax. PP BANDARLAMPUNG POLTEKES TANJUNG KARANG Jl. Soekarno Hatta No. 1, Hajimena, Bandarlampung, Lampung. Telp. - Fax. PP BANDARLAMPUNG UBL Jl. Zainal Abidin Pagar Alam No. 26, Labuhan Ratu, Bandarlampung, Lampung. Telp. - Fax. -
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KC SEMARANG Jl. Pandanaran No. 90, Kel. Pekunden, Kec. Semarang Tengah, Kota Semarang, Jawa Tengah. Telp. (024) 3568891, 3568894 Fax. (024) 3568890 KCP UNGARAN Jl. Diponegoro No. 205 Blok C dan D, Kel. Genuk, Kec. Ungaran, Kab. Semarang, Jawa Tengah. Telp. (024) 6925868, 6925865 Fax. (024) 6925869 KCP MAGELANG Ruko TOP Square Blok A-5, Jl. Tentara Pelajar No. 1-5, Magelang, Jawa Tengah. Telp. (0293) 310260 Fax. (0293) 310283 KCP SEMARANG KARANGAYU Ruko Siliwangi Plaza Blok A-5, Jl. Jend Sudirman No. 187-189, Karangayu, Semarang, Jawa Tengah. Telp. (024) 70773184 Fax. (024) 7603139 KCP SEMARANG TIMUR Jl. Majapahit No. 339 Kav. A, Gemah, Pedurungan, Semarang, Jawa Tengah. Telp. (024) 76747824 Fax. (024) 76747825 KCP PURWODADI Jl. R. Suprapto No. 90, Kel. Purwodadi, Kec. Purwodadi, Kab. Grobogan, Jawa Tengah. Telp. (0292) 424019 Fax. (0292) 421619 KCP TEMANGGUNG Jl. S. Parman No. 10, Temanggung, Jawa Tengah. Telp. (0293) 4900006 Fax. (0293) 4900007 KCP GOMBONG Komplek Pasar Wonokriyo Blok A-02 dan Blok A-03, Desa Wonokriyo, Kec. Gombong, Kab. Kebumen, Jawa Tengah. Telp. (0287) 471533, 472244 Fax. (0287) 472324 KCP SEMARANG NGALIYAN Jl. Prof. Dr. Hamka No. 11 Kav. 6 dan 7, Kel. Purwoyoso, Kec. Ngaliyan, Kota Semarang, Jawa Tengah. Telp. (024) 7617179 Fax. (024) 7613571 KCP SEMARANG BANYUMANIK Jl. Setiabudi No. 152 Kav. 3 dan 5, Kel. Sumurboto, Kec. Banyumanik, Kota Semarang, Jawa Tengah. Telp. (024) 76482057, 76482058, 76482059 Fax. (024) 76482056 KCP SEMARANG MT. HARYONO Jl. MT. Haryono No. 914 A, Kel. Peterongan, Kec. Semarang Selatan, Kota Semarang, Jawa Tengah. Telp. (024) 76585358, 76585359 Fax. (024) 76585355
PT Bank Syariah Mandiri
KCP GUBUG Jl. Bhayangkara No. 33, Kel. Gubug, Kec. Gubug, Kab. Grobogan, Jawa Tengah. Telp. (0292) 5135444 Fax. (0292) 5135408 KCP MAGELANG MUNTILAN Jl. Pemuda Barat No. 17, Kel. Taman Agung, Kec. Muntilan, Kab. Magelang, Jawa Tengah. Telp. (0293) 3286898 Fax. (0293) 3286899 KCP SEMARANG AHMAD YANI Jl. Jend. Ahmad Yani No. 136 A, RT 04 RW 01, Kel. Karangkidul, Kec. Semarang Tengah, Kota Semarang, Jawa Tengah. Telp. (024) 8419292 Fax. (024) 8419294
KCP CIAWI Jl. Raya Timur Ciawi No. 178, Kec. Ciawi, Kab. Tasikmalaya, Jawa Barat. Telp. (0265) 450001 Fax. (0265) 450002 KCP TASIKMALAYA SINGAPARNA Jl. Raya Timur No. 74, Blok Cikiray, Kec. Singaparna, Kab. Tasikmalaya, Jawa Barat. Telp. (0265) 545090, 545091 Fax. (0265) 547070
KC PURWAKARTA Jl. Raden Edi Martadinata, RT 25 RW 05, Kel. Nagri Tengah, Kec. Purwakarta, Kab. Purwakarta, Jawa Barat. Telp. (0264) 231760 Fax. (0264) 231761 KCP SUBANG Jl. Otto Iskandardinata No. 27, Subang, Jawa Barat. Telp. (0260) 418075, 418076 Fax. (0260) 418077
KK CIAMIS RANCAH Jl. Raya Rancah No. 166, Blok Rancah Hilir, Kel. Rancah, Kec. Rancah, Kab. Ciamis, Jawa Barat. Telp. (0265) 740752, 740037 Fax. (0265) 740029
KCP SUBANG PAMANUKAN Jl. Ion Martasasmita No. 32, Pamanukan, Subang, Jawa Barat. Telp. (0260) 550900 Fax. (0260) 551500
KCP POS SEMARANG Kantor Pos Besar Semarang, Jl. Pemuda No. 4, Kota Semarang, Jawa Tengah. Telp. - Fax. -
KK CIAMIS BANJARSARI Jl. Raya Banjarsari No. 93, Desa Banjarsari, Kec. Banjarsari, Kab. Ciamis, Jawa Barat. Telp. (0265) 653208, 653209 Fax. (0265) 653075
KCP PURWAKARTA PLERED Jl. Raya Warung Kandang No. 11-12, Kec. Plered, Kab. Purwakarta, Jawa Barat. Telp. (0264) 8280080, 8280081, 8280082, 8280083 Fax. (0264) 8280077
PP SEMARANG RS ROEMANI Komplek RS. Roemani, Jl. Wonodri No. 22, Semarang, Jawa Tengah. Telp. (024) 8444623 Fax. (024) 8444623
KK CIAMIS Ruko Pasar Ciamis, Jl. Letnan Samuji No. 17, Kel. Ciamis, Kec. Ciamis, Kab. Ciamis, Jawa Barat. Telp. (0265) 778088, 2752155 Fax. (0265) 2752154
KLS PURWAKARTA RS. THAMRIN Rumah Sakit MH. Thamrin, Jl. Raya Bungursari No. 36, Sadang, Purwakarta. Telp. (0264) 8222229 Fax. (0264) 8222228
PP POLITEKNIK NEGERI SEMARANG (POLINES) Jl. Prof. H. Soedarto, S. H., Tembalang, Semarang, Jawa Tengah. Telp. - Fax. -
KK CIAMIS KAWALI Jl. Raya Kawali No. 153, Desa Karangpawitan, Kec. Kawali, Kab. Ciamis, Jawa Barat. Telp. (0265) 2798001 Fax. (0265) 2798000
KC BENGKULU Jl. Semangka No. 49, Lingkar Timur, Bengkulu. Telp. (0736) 342007, 346498 Fax. (0736) 346707
PP SEMARANG UNDIP Fakultas Ekonomika dan Bisnis UNDIP, Jl. Prof. Soedarta SH, Tembalang, Semarang, Jawa Tengah. Telp. - Fax. -
KK TASIKMALAYA MANONJAYA Jl. Prawiradiningrat No. 31 Bloko Babakan Asri, Desa Manonjaya, Kec. Margaluyu, Kab. Tasikmalaya, Jawa Barat. Telp. (0265) 381105, 381108, 381130 Fax. (0265) 381132
PP UNIVERSITAS MUHAMMADIYAH SEMARANG (UNIMUS) Jl. Kedungmundu Raya No. 18, Semarang, Jawa Tengah. Telp. - Fax. KC TASIKMALAYA Jl. Otto Iskandardinata No. 5, Tasikmalaya, Jawa Barat. Telp. (0265) 312995, 312999 Fax. (0265) 311199
KK CIAMIS PANUMBANGAN Dusun Sindang Harja RT 06 RW 05, Desa Tanjungmulya, Kec. Panumbangan, Kab. Ciamis, Jawa Barat. Telp. (0265) 2460947, 2460946, 2460945 Fax. (0265) 2460944 KLS TASIKMALAYA RSUD Jl. Rumah Sakit No. 33, Tasikmalaya, Jawa Barat. Telp. (0265) 328613 Fax. (0265) 328546
KCP CIAMIS Jl. Ir. H. Juanda, No. 191, Kab. Ciamis, Jawa Barat. Telp. (0265) 761000 Fax. (0265) 777144
PP CIAMIS UNIVERSITAS GALUH Jl. RE Martadinata No. 150, Kab. Ciamis, Jawa Barat. Telp. - Fax. -
KCP BANJAR Jl. Letjen Suwarto No. 37, Kota Banjar, Jawa Barat. Telp. (0265) 741392, 743434, 745500 Fax. (0265) 743444
PP TASIKMALAYA UNIVERSITAS SILIWANGI Jl. Siliwangi No. 24, Kel. Kahuripan, Kec. Tawang, Kota Tasikmalaya, Jawa Barat. Telp. - Fax. -
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KCP CURUP Jl. Merdeka No. 289, Curup, Kab. Rejang Lebong, Bengkulu. Telp. (0732) 325480, 23848, 24458 Fax. (0732) 325447 KCP BENGKULU S. PARMAN Jl. S. Parman No. 62, Padang Jati, Bengkulu. Telp. (0736) 21592, 343984, 21579 Fax. (0736) 24313 KCP KETAHUN Jl. Flamboyan, Desa Giri Kencana, Kec. Ketahun, Kab. Bengkulu Utara, Bengkulu. Telp. (0737) 7524160 Fax. (0737) 7524164 PP BENGKULU UNIV. MUHAMMADIYAH Kompl. Universitas Muhammadiyah Bengkulu, Jl. Bali P.O. Box 113, Bengkulu. Telp. - Fax. KC PURWOKERTO Jl. Jend. Sudirman No. 433, Purwokerto, Jawa Tengah. Telp. (0281) 641108, 641685 Fax. (0281) 625955
COMPANY DATA KCP PURBALINGGA Jl. Jend. Sudirman No. 95, Purbalingga, Kab. Purbalingga, Jawa Tengah. Telp. (0281) 891414, 894000 Fax. (0281) 895567 KCP BANJARNEGARA Jl. Letnan Jend. Suwondo Parman No. 31, Kab. Banjarnegara, Jawa Tengah. Telp. (0286) 5985994, 5985995 Fax. (0286) 5985998 KCP AJIBARANG Jl. Raya Pancasan Blok F-7, Desa Ajibarang, Kec. Ajibarang, Kab. Banyumas, Jawa Tengah. Telp. (0281) 571898 Fax. (0281) 571069 PP PURWOKERTO STAIN Jl. Ahmad Yani No. 40A, Purwokerto, Jawa Tengah. Telp. - Fax. PP BANJARNEGARA RSI Gedung Yayasan RS Islam Banjarnegara, Jl. Raya Bawang Km. 08, Banjarnegara, Jawa Tengah. Telp. - Fax. PP PURWOKERTO AL IRSYAD AL ISLAMIYAH Yayasan Al Irsyad Al Islamiyah Purwokerto, Jl. Ragasemangsang No. 24, Purwokerto, Jawa Tengah. Telp. - Fax. KC PANGKAL PINANG Jl. Masjid Jamik No. 123, Pangkal Pinang, Kep. Bangka Belitung. Telp. (0717) 432229, 433177 Fax. (0717) 431445 KCP TANJUNG PANDAN Jl. Sriwijaya No. 37, Tanjung Pandan, Belitung, Kep. Bangka Belitung. Telp. (0719) 21907, 21249 Fax. (0719) 21864 KCP SUNGAI LIAT Ruko Sungai Liat Town Square, Jl. Muhidin Blok A2-A3, Kec. Sungai Liat, Kab. Bangka, Kep. Bangka Belitung. Telp. (0717) 93006, 93007 Fax. (0717) 95880 KC CILACAP Jl. A. Yani No. 97, Cilacap, Jawa Tengah. Telp. (0282) 531015, 531038 Fax. (0282) 535870 KCP CILACAP MAJENANG Jl. Diponegoro No. 60, Desa Sindangsari, Kec. Majenang, Kab. Cilacap, Jawa Tengah. Telp. (0280) 623095, 623090, 623091 Fax. (0280) 623310
PP CILACAP AL AZHAR Perguruan Islam Al Azhar, Jl. Galunggung No. 8 RT 04/11, Kel. Sidanegara, Kec. Cilacap Tengah, Cilacap, Jawa Tengah. Telp. (0282) 536362 Fax. KC KUDUS Ruko Ahmad Yani No. 9, Jl. Ahmad Yani, Kab. Kudus, Jawa Tengah. Telp. (0291) 439272 Fax. (0291) 439274 KCP JEPARA Jl. Pemuda No. 12 A-B, Desa Panggang, Kec. Jepara, Kab. Jepara, Jawa Tengah. Telp. (0291) 595599 Fax. (0291) 595699 PP UNIVERSITAS MURIA KUDUS Komplek UMK, Jl. Gondang Manis, Kec. Bae, Kab. Kudus, Jawa Tengah. Telp. - Fax. KC BANDAR JAYA Komp. Pertokoan Central Niaga Bandar Jaya No. 1-3, Jl. Proklamator Raya, Yukum Jaya, Lampung Tengah, Lampung. Telp. (0725) 529825, 529826 Fax. (0725) 529831 KCP KOTABUMI Jl. Jendral Sudirman No. 211, Kel. Tanjung Aman, Kec. Kotabumi Selatan, Kab. Lampung Utara, Lampung. Telp. (0724) 22892, 22893 Fax. (0724) 22688 KCP LIWA Jl. Raden Intan II, Kel. Pasar Liwa, Kec. Balik Bukit, Kab. Lampung Barat, Lampung. Telp. (0728) 21555, 21556 Fax. (0728) 21233 KCP UNIT 2 TULANG BAWANG Jl. Raya Lintas Timur No. 24-25 Unit 2, Kampung Dwi Warga Tunggal Jaya, Kec. Banjar Agung, Kab. Tulang Bawang, Lampung. Telp. (0726) 750169 Fax. (0726) 750279 PP KANTOR KEMENAG LAMPUNG TENGAH Jl. H. Muhtar No. 1, Kec. Gunung Sugih, Kab. Lampung Tengah, Lampung. Telp. - Fax. PP BANDARLAMPUNG GREAT GIANT PINEAPLE COMPANY Kompleks PT. Great Giant Pineaple, Jl. Raya Arah Menggala KM 77, Lampung Tengah, Bandarlampung, Lampung. Telp. (0725) 7573001 Fax. (0725) 7573001
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PP BANDARLAMPUNG GUNUNG MADU Kompl. Gunung Madu Plantations Km 90 Gunung Batin, Lampung Tengah, Bandarlampung, Lampung. Telp. (0725) 561700 Fax. (0725) 561800 KC TEGAL Jl. Gajahmada No. 90, Tegal, Jawa Tengah. Telp. (0283) 325300, 325301 Fax. (0283) 351460 KCP BREBES Jl. Ahmad Yani No. 21, Brebes, Jawa Tengah. Telp. (0283) 6177837 Fax. (0283) 6177577 KCP TEGAL ADIWERNA Jl. Raya Adiwerna No. 6, Kab. Tegal, Jawa Tengah. Telp. (0283) 444222, 444573 Fax. (0283) 444575 KCP POS TEGAL Kantor Pos Tegal, Jl. Proklamasi No. 2, Tegal, Jawa Tengah. Telp. - Fax. KC KETAPANG Jl. MT. Haryono No. 111-112, Kab. Ketapang, Kalimantan Barat. Telp. (0534) 34600 Fax. (0534) 34395 KCP KETAPANG MANIS MATA Jl. Pontianak No. 3, Kec. Manis Mata, Kabupaten Ketapang, Kalimantan Barat. Telp. 0811560533, 0816222030 Fax. 0816221030 KC BATURAJA Jl. Slamet Riadi No. 231, RT. 02/02, Kel. Kemalaraja, Kec. Baturaja Timur, Kab. Ogan Komering Ulu, Sumatera Selatan. Telp. (0735) 325111 Fax. (0735) 322552 KCP BELITANG Jl. Nusa Indah No. 5, Pasar Lama Gumawang, Desa Gumawang, Kec. Belitang, Kab. Ogan Komering Ulu Timur, Sumatera Selatan. Telp. (0735) 450161 Fax. (0735) 451313 KCP OGAN KOMERING ULU TIMUR Jl. Merdeka, Kel. Jati Rahayu, Kec. Martapura, Kab. Ogan Komering Ulu Timur, Sumatera Selatan. Telp. (0735) 482277 Fax. (0735) 482266 KC PRABUMULIH JL. Jend. Sudirman No. 7-8 Rt 01/10, Kel. Muara dua, Kec. Prabumulih Timur, Kota Prabumulih, Sumatera Selatan. Telp. (0713) 322888 Fax. (0713) 322565
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KCP LAHAT Jl. May. Ruslan III No. 27, Pasar Lama, Lahat, Kab. Lahat, Sumatera Selatan. Telp. (0731) 323153, 325924 Fax. (0731) 324701
KCP CIMAHI BAROS Jl. Baros No. 49, Kel. Utama, Kec. Cimahi Selatan, Kota Cimahi, Jawa Barat. Telp. (022) 86619106 Fax. (022) 86619096
KCP JATINANGOR Jl. Raya Jatinangor No. 158, Desa Cikeruh, Kec. Jatinangor, Kab. Sumedang, Jawa Barat. Telp. (022) 7792039 Fax. (022) 7792049
KCP TANJUNG ENIM Jl. Pasar Bawah Tanjung Enim, Kel. Pasar Tanjung Enim, Kec. Lawang Kidul, Kab. Muara Enim, Sumatera Selatan. Telp. (0734) 452363, 452576, 452380, 452403 Fax. (0734) 452536
KC BANDUNG KOPO Jl. Kopo No. 36, Panjunan, Astanaanyar, Bandung, Jawa Barat. Telp. (022) 6044881, 6044882, 6073199 Fax. (022) 6070100
KCP POS BANDUNG Kantor Pos Bandung, Jl. Asia Afrika No. 49, Kel. Braga, Kec. Sumur Bandung, Kota Bandung, Jawa Barat. Telp. (022) 4222001 Fax. (022) 4222001
KCP BANDUNG BUAH BATU Jl. Buah Batu Raya No. 151 A-B, Bandung, Jawa Barat. Telp. (022) 7302114 Fax. (022) 7322301
PP BANDUNG UIN SGD Gedung Fakultas Ushuluddin UIN SGD Bandung Lantai 1, Jl. A. H. Nasution No. 105, Kota Bandung, Jawa Barat. Telp. - Fax. -
KC SUKABUMI Jl. RE. Martadinata No. 38, Gunung Parang, Cikole, Sukabumi, Jawa Barat. Telp. (0266) 243888 Fax. (0266) 243898 KCP CICURUG Jl. Siliwangi, Lebak Sari RT 02/08, Cicurug, Sukabumi, Jawa Barat. Telp. (0266) 732852 Fax. (0266) 732855 KCP SUKABUMI SURADE Jl. Raya Surade No. 49, Kel. Surade, Sukabumi, Jawa Barat. Telp. (0266) 6493010 Fax. (0266) 6493004 KCP SUKABUMI CIBADAK Jl. Surya Kencana No. 196, RT 03/08, Kel. Cibadak, Kec. Cibadak, Kab. Sukabumi, Jawa Barat. Telp. (0266) 535080 Fax. (0266) 535081
KCP BANDUNG MOH. TOHA Jl. Moh. Toha No. 184, Kel. Karasak, Kec. Astanaanyar, Kota Bandung, Jawa Barat. Telp. (022) 5210660 Fax. (022) 5211171 PP YBPPI BALEENDAH YBPPI Baleendah Jl. Adipati Agung No. 23, Kec. Baleendah, Kab. Bandung, Jawa Barat. Telp. - Fax. KC PATI Jl. P. Sudirman No. 207, Plaza Pati Blok A1-A2, Kel. Pati Lor, Kab. Pati, Jawa Tengah. Telp. (0295) 386699 Fax. (0295) 387799
KCP POS SUKABUMI Jl. A. Yani No. 42, Kota Sukabumi, Jawa Barat. Telp. - Fax. -
KC SAMBAS Jl. Gusti Hamzah No. 41, Dusun Kubu, Desa Durian, Kec. Sambas, Kab. Sambas, Kalimantan Barat. Telp. (0562) 391900 Fax. (0562) 392200
PP SUKABUMI POLTEKES YAPKESBI Poltekes Yapkesbi Sukabumi, Jl. Subang Jaya No. 12A, Ciaul Pasir, Kota Sukabumi, Jawa Barat. Telp. - Fax. -
KC BANDUNG AHMAD YANI Jl. Jendral Ahmad Yani No. 252, Kel. Kacapiring, Kec. Batununggal, Bandung, Jawa Barat. Telp. (022) 7202688, 7231090, 082819030694 Fax. (022) 7271334
PP UNIVERSITAS MUHAMMADIYAH SUKABUMI Universitas Muhammadiyah Sukabumi, Jl. R. Syamsudin SH No. 50, Kota Sukabumi, Jawa Barat. Telp. - Fax. -
KCP BANDUNG METRO MARGAHAYU Komplek Metro Indah Mall Kav. C-1, Jl. Soekarno Hatta No. 590 A, Sekejati, Margacinta, Bandung, Jawa Barat. Telp. (022) 7535657 Fax. (022) 7536332
KC CIMAHI Jl. Jend. Amir Machmud No. 118, Cibabat, Cimahi, Jawa Barat. Telp. (022) 6632228 Fax. (022) 6632212 KCP PADALARANG Jl. Raya Purwakarta No. 109, Padalarang, Bandung Barat, Jawa Barat. Telp. (022) 6806784, 6806785 Fax. (022) 6803952
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KCP BANDUNG UJUNG BERUNG Pertokoan Cyber Plaza Ruko Blok A No. 12-15, Jl. AH. Nasution No. 46A, Ujung Berung, Pakemitan, Cinambo, Bandung, Jawa Barat. Telp. (022) 87880001, 87880002 Fax. (022) 87880004 KCP BANDUNG RANCAEKEK Jl. Rancaekek Raya No. 28, Kec. Rancaekek, Kab. Bandung, Jawa Barat. Telp. (022) 7790022, 7790024 Fax. (022) 7792632
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KC KENDAL Jl. Raya Soekarno Hatta No. 325, Kel. Pegulon, Kec. Kendal, Kab. Kendal, Jawa Tengah. Telp. (0294) 388173, 388175 Fax. (0294) 388172 PP KENDAL KEMENTERIAN AGAMA Jl. Pemuda No. 104A, Kendal, Jawa Tengah. Telp. - Fax. KC SALATIGA Jl. Diponegoro Ruko Salatiga Square No. 77-A6 dan 77-A7, Kel. Sidorejo Lor, Kec. Sidorejo, Kota Salatiga, Jawa Tengah. Telp. (0298) 328558, 328885 Fax. (0298) 314407 KC METRO Jl. Jend. Sudirman No. 43 E-F, Kel. Imopura, Kec. Metro Pusat, Kota Metro, Lampung. Telp. (0725) 7851606 Fax. (0725) 7851605 KK SRIBHAWONO Jl. Panjang Sribhawono, Desa Srimenanti, Kec. Bandar Sribhawono, Kab. Lampung Timur, Lampung. Telp. (0725) 660800, 660802 Fax. (0725) 660700 KC SINGKAWANG Jl. Alianyang No. 16 C-D, Kel. Melayu, Kec. Singkawang Barat, Kota Singkawang, Kalimantan Barat. Telp. (0562) 639866 Fax. (0562) 639865 KC PALEMBANG PASAR 16 ILIR Pasar 16 Ilir, Jl. Masjid Lama No. 30-31, Palembang, Sumatera Selatan. Telp. (0711) 377244, 377322 Fax. (0711) 353594 KC CIANJUR Jl. Siliwangi No. 6, Kel. Pamoyanan, Kec. Cianjur, Kab. Cianjur, Jawa Barat. Telp. (0263) 284648 Fax. (0263) 284677
COMPANY DATA KCP CIPANAS Komplek Ruko No. 11 , Jl. Raya Cipanas, Cianjur, Jawa Barat. Telp. (0263) 520299 Fax. (0263) 520399 KCP CIANJUR SUKANAGARA Jl. Raya Cianjur Sukanagara No. 22 RT. 01 RW. 01, Sukanagara, Cianjur, Jawa Barat. Telp. (0263) 341400, 341401 Fax. (0263) 341404 KCP POS CIANJUR Jl. Siti Jenab No. 39, Kec. Cianjur, Kab. Cianjur, Jawa Barat. Telp. - Fax. PP CIANJUR GEDUNG BAZ Jl. Sadewata No. 108-B, Bojong Karang Tengah, Cianjur, Jawa Barat. Telp. - Fax. KC GARUT Jl. Ciledug No. 148-149, Kel. Kota Kulon, Kec. Garut Kota, Kab. Garut, Jawa Barat. Telp. (0262) 243689, 243692 Fax. (0262) 233137 KCP GARUT KADUNGORA Jl. Raya Kadungora No. 174, Kab. Garut, Jawa Barat. Telp. (0262) 2458434, 2458435 Fax. (0262) 2458437 KCP POS GARUT Jl. A. Yani No. 40, Kec. Garut Kota, Kab. Garut, Jawa Barat. Telp. - Fax. PP GARUT DARUL ARQOM Lembaga Pendidikan Ma’had Darul Arqam Muhammadiyah, Jl. Ciledug No. 264/36, Garut, Jawa Barat. Telp. (0262) 236109 Fax. (0262) 236109 KC PALEMBANG SIMPANG PATAL Jl. R. Soekamto No. 6A, Kel. 8 Ilir, Kec. Ilir Timur II, Kota Palembang, Sumatera Selatan. Telp. (0711) 360789, 370901, 361700 Fax. (0711) 361311
REGION IV KC SURABAYA Jl. Raya Darmo No. 17, Surabaya, Jawa Timur. Telp. (031) 5674848, 5679842, 5677062 Fax. (031) 5679841 KCP SURABAYA AMPEL Jl. Kyai Haji Mas Mansyur No. 238, Kel. Ampel, Kec. Semampir, Kota Surabaya, Jawa Timur. Telp. (031) 3574850, 3574851, 3574940 Fax. (031) 3537102
KCP SURABAYA MULYOSARI Jl. Raya Mulyosari No. 24 C, Surabaya, Jawa Timur. Telp. (031) 5911284, 5911286 Fax. (031) 5949222 KCP SURABAYA DHARMAHUSADA Jl. Dharmahusada No. 147, Surabaya, Jawa Timur. Telp. (031) 5962361, 5966285, 5967744 Fax. (031) 5966281 KCP SURABAYA KAPAS KRAMPUNG Jl. Kapas Krampung No. 108, Surabaya, Jawa Timur. Telp. (031) 5012277 Fax. (031) 5014627 KCP SURABAYA TANJUNG PERAK Jl. Perak Timur No. 564 Blok A2, Surabaya, Jawa Timur. Telp. (031) 3286372, 3285301 Fax. (031) 3286917 KCP SURABAYA BARATA Jl. Ngagel Jaya Selatan RMI B-4, Kel. Baratajaya, Kec. Gubeng, Surabaya, Jawa Timur. Telp. (031) 5024986, 5025150, 5025082 Fax. (031) 5025121 KCP SURABAYA KEDUNGDORO Ruko Golden, Jl. Kedungdoro No. 92 B, Kel. Sawahan, Kec. Sawahan, Surabaya, Jawa Timur. Telp. (031) 5321639, 5321637, 53321649 Fax. (031) 5321678 KCP SURABAYA WONOCOLO Jl. Raya Margorejo Indah No. 92, Wonocolo, Surabaya, Jawa Timur. Telp. (031) 8418531, 8418673, 8418873 Fax. (031) 8418923 KCP SURABAYA KLAMPIS Jl. Klampis Jaya No. 10A Blok B-1, Sukolilo, Surabaya, Jawa Timur. Telp. (031) 5998438, 5992981, 5993068 Fax. (031) 5992965 KCP SURABAYA JEMBATAN MERAH Jl. Rajawali No. 70 C, Krembangan, Surabaya, Jawa Timur. Telp. (031) 3532491, 3532492, 3532494 Fax. (031) 3532495 KCP SURABAYA KUSUMA BANGSA Jl. Kusuma Bangsa No. 25 Kav. D-E, Surabaya, Jawa Timur. Telp. (031) 5344827,5321883 Fax. (031) 5321899 KCP SURABAYA RUNGKUT Jl. Raya Rungkut Kidul Industri No. 36, Rungkut, Surabaya, Jawa Timur. Telp. (031) 8418302, 8418373, 8418314 Fax. (031) 8418397 KCP MITRA MANDIRI KEMBANG JEPUN Gedung Bank Mandiri Kantor Cabang Pembantu Kembang Jepun, Jl. Kembang Jepun No. 168-170, Kel. Nyamplungan, Kec. Pabean Cantikan, Kota Surabaya,
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Jawa Timur. Telp. (031) 72941524 Fax. (031) 3537722 PP SIDOARJO AL MUSLIM Yayasan Al Muslim, Jl. Raya Wadung Asri 39-F, Waru, Sidoarjo, Jawa Timur. Telp. (031) 60112416 Fax. (031) 8674386 PP SURABAYA ITATS Kampus ITATS, Jl. Arif Rachman Hakim No. 100, Surabaya, Jawa Timur. Telp. (031) 5912381 Fax. (031) 5912381 PP GRESIK PONPES QOMARUDIN Yayasan Pondok Pesantren Qomaruddin (YPPQ), Jl. Raya Bungah 01, Bungah, Gresik, Jawa Timur. Telp. - Fax. PP SURABAYA AL FITHRAH Jl. Kedinding Lor No. 99, Surabaya, Jawa Timur. Telp. (031) 3761376 Fax. PP SIDOARJO YAYASAN AL FALAH DARUSSALAM Yayasan Masjid Darussalam Tropodo, Jl. Anggrek No. 1, Wisma Tropodo, Kel. Kepuh, Kec. Tropodo, Kota Sidoarjo, Jawa Timur. Telp. - Fax. PP SURABAYA STIE MAHARDHIKA Jl. Wisata Menanggal No. 42 B, Kota Surabaya, Jawa Timur. Telp. - Fax. KC PAMEKASAN Jl. KH. Agus Salim No. 3A, Pamekasan, Jawa Timur. Telp. (0324) 331223, 331224, 331225 Fax. (0324) 331218 KCP BANGKALAN Jl. KH. Moh. Kholil No. 52, Bangkalan, Jawa Timur. Telp. (031) 3093380 Fax. (031) 3093379 KCP SUMENEP Jl. Trunojoyo No. 49, Kel. Pajagalan, Kec. Kota Sumenep, Kab. Sumenep, Jawa Timur. Telp. (0328) 673431 Fax. (0328) 669300 KCP SAMPANG Jl. KH. Wahid Hasyim No. 24, Sampang, Jawa Timur. Telp. (0323) 324123 Fax. (0323) 324111 KC MALANG Jl. Letjen Sutoyo No. 77B, Kel. Lowokwaru, Kec. Lowokwaru, Kota Malang, Jawa Timur. Telp. (0341) 402290 Fax. (0341) 495311
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KCP PASURUAN Jl. Panglima Sudirman No. 14C, Pasuruan, Jawa Timur. Telp. (0343) 431588, 431589 Fax. (0343) 431618
KCP POS MALANG Kantor Pos Malang, Jl. Merdeka Selatan No. 5, Kec. Kloten, Kota Malang, Jawa Timur. Telp. (0341) 347796 Fax. -
KCP PROBOLINGGO Ruko Manunggal No. 7, Jl. Soekarno-Hatta, Probolinggo, Jawa Timur. Telp. (0335) 428899 Fax. (0335) 420530
KCP MALANG PASAR BESAR Jl. Pasar Besar No. 138, RT. 004 RW. 003, Kel. Sukoharjo, Kec. Klojen, Kota Malang, Jawa Timur. Telp. (0341) 347463 Fax. (0341) 347456
KCP MALANG BATU Jl. Diponegoro 8, Sisir, Kota Batu, Jawa Timur. Telp. (0341) 5025550, 5025551, 594004 Fax. (0341) 591172
KK MALANG DINOYO Jl. Tlogo Mas No. 10, Dinoyo, Malang, Jawa Timur. Telp. (0341) 552700, 5707212 Fax. (0341) 570710
KCP KEPANJEN Jl. Ahmad Yani No. 103 B, Kepanjen, Kab. Malang, Jawa Timur. Telp. (0341) 396093 Fax. (0341) 391358
PP LUMAJANG STAIM PP Miftahul Ulum, Desa Banyuputih, Kec. Randuagung, Kab. Lumajang, Jawa Timur. Telp. - Fax. -
KCP PANDAAN Pertokoan Central Niaga Blok A1, Jl. Ahmad Yani No. 321, Pandaan, Pasuruan, Jawa Timur. Telp. (0343) 639262, 639263 Fax. (0343) 639266
PP LUMAJANG STAIS PP Kyai Syarifuddin, Desa Wonorejo, Kec. Kedungjajang, Kab. Lumajang, Jawa Timur. Telp. - Fax. -
KCP TULUNGAGUNG Ruko Kepatihan 7-8, Jl. Panglima Sudirman No. 51, Tulungagung, Jawa Timur. Telp. (0355) 334455 Fax. (0355) 333130
KCP LUMAJANG Jl. Panglima Besar Sudirman No. 45, Kel. Tompokersan, Kec. Lumajang, Kab. Lumajang, Jawa Timur. Telp. (0334) 882795, 889635 Fax. (0334) 881335
PP MALANG MAN 3 MAN 3 Malang, Jl. Bandung No. 7, Kel. Penanggungan, Kec. Klojen, Kota Malang, Jawa Timur. Telp. - Fax. -
KCP KEDIRI PARE Jl. W. R. Supratman No. 11 A, Pare, Kediri, Jawa Timur. Telp. (0354) 397111 Fax. (0354) 397804
KCP LAWANG Perumahan Lawang View, Ruko 3-4 Kavling III, Jl. Raya Lawang View, Kel. Lawang, Kec. Lawang, Kab. Malang, Jawa Timur. Telp. (0341) 423200 Fax. (0341) 423419
KC MATARAM Jl. Hasanudin No. 40, Mataram, Nusa Tenggara Barat. Telp. (0370) 644888, 622300, 622700 Fax. (0370) 634999
KCP NGANJUK Jl. Ahmad Yani No. 199, Kel. Payaman, Kec. Nganjuk, Kab. Nganjuk, Jawa Timur. Telp. (0358) 324700 Fax. (0358) 324798
KCP SUMBAWA Jl. Diponegoro No. 40, Sumbawa, Nusa Tenggara Barat. Telp. (0371) 22255 Fax. (0371) 625300
KCP TRENGGALEK Jl. Panglima Sudirman No. 36, Trenggalek, Jawa Timur. Telp. (0355) 794131, 794164, 794347, 794502, 793851 Fax. (0355) 794517
KCP MALANG SINGOSARI Ruko Puri Kendedes A2-1, Jl. Raya Mondoroko (Jl. Raya Singosari), Kec. Singosari, Kab. Malang, Jawa Timur. Telp. (0341) 451511, 451220 Fax. (0341) 451225 KCP MALANG TUMPANG Jl. Raya Kauman No. 604 G-604 H, Desa Tumpang, Kec. Tumpang, Kab. Malang, Jawa Timur. Telp. (0341) 789496, 789497, 789498 Fax. (0341) 789292 KCP MALANG SOEKARNO HATTA Jl. Raya Sukarno Hatta Kav 5D No. 400, Kel. Mojolangu, Kec. Lowokwaru, Kota Malang, Jawa Timur. Telp. (0341) 415677, 415441 Fax. (0341) 482308 KCP MALANG TUREN Jl. Panglima Sudirman No. 8, Kel. Turen, Kec. Turen, Kab. Malang, Jawa Timur. Telp. (0341) 827111 Fax. (0341) 827333
PT Bank Syariah Mandiri
KCP PANCOR Jl. TG KH. Muhammad Zainuddin Abdul Majid No. 85, Pancor, Kab. Lombok Timur, Nusa Tenggara Barat. Telp. (0376) 23772, 23774 Fax. (0376) 23773 KCP PRAYA Jl. Jenderal Sudirman No. 1, Praya, Lombok Tengah, Nusa Tenggara Barat. Telp. (0370) 653159 Fax. (0370) 654394 KCP BIMA Jl. Sultan Kaharudin, Kompleks Sultan Square A4-A5, Kec. Saranae Barat, Bima, Nusa Tenggara Barat. Telp. (0374) 44222 Fax. (0374) 44448 KCP POS MATARAM Kantor Pos Mataram, Jl. Sriwijaya, Mataram, Nusa Tenggara Barat. Telp. - Fax. -
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PP FE UNIVERSITAS MATARAM Jl. Majapahit No. 62, Mataram, Nusa Tenggara Barat. Telp. (0370) 648666 Fax. (0370) 648666 PP PANCOR STKIP HAMZANWADI Kampus STKIP Hamzanwadi Pancor, Jl. TGKH M Zainuddin Abdul Majid No. 70, Pancor, Kab. Lombok Timur, Nusa Tenggara Barat. Telp. - Fax. PP BIMA STKIP TAMAN SISWA Jl. Raya Lintas Tente - Bima, Palibelo, Kab. Bima, Nusa Tenggara Barat. Telp. - Fax. KC KEDIRI Jl. Hayam Wuruk No. 49, Kediri, Jawa Timur. Telp. (0354) 672000 Fax. (0354) 672105
KCP TULUNGAGUNG NGUNUT Jl. Raya Ngunut II No. 56, Desa Ngunut, Kec. Ngunut, Kab. Tulungagung, Jawa Timur. Telp. (0355) 395000, 399847, 399848, 399849, 399850, 399851 Fax. (0355) 399850 PP TULUNGAGUNG PENGADILAN AGAMA Jl. Soekarno Hatta No. 117, Tulungagung, Jawa Timur. Telp. - Fax. PP KEDIRI STAIN STAIN Kediri, Jl. Sunan Ampel No. 7, Kab. Kediri, Jawa Timur. Telp. - Fax. -
COMPANY DATA PP RS AURA SYIFA Jl. Joyoboyo No. 42, Dlopo, Kediri, Jawa Timur. Telp. - Fax. PP RSM SITI KHODIJAH Jl. Dr. Soetomo No. 322, Sukorejo Gurah, Kab. Kediri, Jawa Timur. Telp. - Fax. PP PONPES AL UBAIDAH KERTONOSO Jl. Ahmad Yani No. 100, Kec. Kertonoso, Kab. Nganjuk, Jawa Timur. Telp. - Fax. KC JEMBER Jl. P. B. Sudirman No. 41-43, Jember, Jawa Timur. Telp. (0331) 411522 Fax. (0331) 411525 KCP BONDOWOSO Jl. P. B. Sudirman No. 1, Bondowoso, Jawa Timur. Telp. (0332) 427999 Fax. (0332) 432844 KCP SITUBONDO Jl. Pemuda No. 187, Situbondo, Jawa Timur. Telp. (0338) 671700 Fax. (0338) 674121 KCP JEMBER BALUNG Jl. Rambipuji No. 78, Kab. Jember, Jawa Timur. Telp. (0336) 621717 Fax. (0336) 621711 KCP POS JEMBER Jl. PB. Sudirman No. 5, Kab. Jember, Jawa Timur. Telp. - Fax. KK JEMBER PASAR TANJUNG Jl. Trunojoyo No. 165 A, Jember, Jawa Timur. Telp. (0331) 411744 Fax. (0331) 410833 KK JEMBER UNIVERSITAS MUHAMMADIYAH Jl. Karimata No. 49, Jember, Jawa Timur. Telp. (0331) 323558 Fax. (0331) 336077 KK JEMBER KALISAT Jl. Diponegoro No. 66, Kec. Kalisat, Kab. Jember, Jawa Timur. Telp. (0331) 592069 Fax. (0331) 592074 PP JEMBER STAIN Sekolah Tinggi Agama Islam Negeri Jember Jl. Jum’at No. 94, Mangil, Jember, Jawa Timur. Telp. (0331) 411500 Fax. (0331) 411500 PP SUKOREJO PONPES SALAFIYAH SYAFI’IYAH Jl. KHR. Syamsul Arifin RT/RW 001/016 (Depan Pondok Nurul Qoni’) Sukorejo, Dusun Sumberrejo, Kec.
Banyuputih, Kab. Situbondo, Jawa Timur. Telp. - Fax. PP JEMBER AKBID BINA HUSADA Jl. Tidar No. 19, Kel. Karangrejo, Kec. Sumbersari, Kab. Jember, Jawa Timur. Telp. - Fax. PP JEMBER PONPES DARUS SHOLAH Jl. Moch. Yamin No. 25, Kec. Kaliwates, Kab. Jember, Jawa Timur. Telp. - Fax. KC DENPASAR Jl. Raya Puputan No. 114, Kel. Sumerta Klod, Kec. Denpasar Timur, Kota Denpasar, Bali. Telp. (0361) 231999 Fax. (0361) 237100 KCP BULELENG Jl. Erlangga No. 14, Buleleng, Bali. Telp. (0362) 32666, 25968, 25969 Fax. (0362) 27747 KCP DENPASAR GATOT SUBROTO Jl. Gatot Subroto No. 45, Desa Putri Kaja, Kec. Denpasar Barat, Kota Denpasar, Bali. Telp. (0361) 432595 Fax. (0361) 434045 KCP DENPASAR WR SUPRATMAN Jl. WR Supratman No. 282, Kesiman Kertalangu, Denpasar Timur, Kota Denpasar, Bali. Telp. (0361) 463222, 465539, 463030 Fax. (0434) 465500
KCP MITRA BSHB GUNUNG AGUNG Kantor Bank Sinar Harapan Bali, Jl. Gunung Agung No. 21, Kel. Pemecutan Kaja, Kec. Denpasar Barat, Kota Denpasar, Bali. Telp. - Fax. KCP MITRA BSHB WATURENGGONG Kantor Bank Sinar Harapan Bali, Jl. Waturenggong No. 72, Kel. Panjer, Kec. Denpasar Selatan, Kota Denpasar, Bali. Telp. - Fax. PP DENPASAR ALBANNA SCHOOL Gedung Sekolah Albanna Bali, Jl. Tukad Yeh HO III No. 16, Denpasar, Bali. Telp. - Fax. KC BANYUWANGI Jl. Basuki Rakhmat No. 30, Kel. Singotrunan, Kec. Banyuwangi, Kab. Banyuwangi, Jawa Timur. Telp. (0333) 418624, 418625, 418626, 418627 Fax. (0333) 418628 KCP GENTENG Jl. Gajah Mada no. 159 (d.h. Jl. D.P.U), Kel. Genteng Kulon, Kec. Genteng, Kab Banyuwangi, Jawa Timur. Telp. (0333) 842891, 842892 Fax. (0333) 842893 KCP BANYUWANGI JAJAG Jl. P. B. Sudirman No. 52, Desa Jajag, Kec. Gambiran, Kab. Banyuwangi, Jawa Timur. Telp. (0333) 395700, 395789 Fax. (0333) 395899
KCP KUTA Jl. Raya Kuta No. 129A, Kuta, Badung, Bali. Telp. (0361) 754222 Fax. (0361) 763415
KCP BANYUWANGI MUNCAR Jl. Raya Muncar No. 117, Desa Tembokrejo, Kec. Muncar, Kab. Banyuwangi, Jawa Timur. Telp. (0333) 594556 Fax. (0333) 592432
KCP MITRA BSHB MELATI Jl. Melati No. 65, Kel. Sumertha Kauh, Kec. Denpasar Timur, Kota Denpasar, Bali. Telp. (0361) 244624 Fax. -
KCP BANYUWANGI ROGOJAMPI Jl. Raya Rogojampi No. 189, Desa Gitik, Kec. Rogojampi, Kab. Banyuwangi, Jawa Timur. Telp. (0333) 636321 Fax. (0333) 636323
KCP MITRA BSHB SUKAWATI Jl. Raya Sukawati, Kel. Sukawati, Kec. Sukawati, Kab. Gianyar, Bali. Telp. (0361) 8728555, 8728222 Fax. -
KCP POS BANYUWANGI Jl. Diponegoro No. 1, Kel. Kepatihan, Kec. Banyuwangi, Kab. Banyuwangi, Jawa Timur. Telp. (0333) 416270 Fax. -
KCP MITRA BSHB TABANAN Jl. Pahlawan, Kel. Dangin Peken, Kec. Tabanan, Kab. Tabanan, Bali. Telp. (0361) 814202 Fax. -
KK BANYUWANGI KETAPANG Jl. Gatot Subroto Km. 6, Kel. Klatak, Kec. Kalipuro, Kab. Banyuwangi, Jawa Timur. Telp. (0333) 413306 Fax. (0333) 413276
KCP DENPASAR TEUKU UMAR Jl. Teuku Umar No. 11, Desa Dauhpuri Klod, Kec. Denpasar Barat, Kota Denpasar, Bali. Telp. (0361) 8469090 Fax. (0361) 8469091
PP BANYUWANGI STIKES Jl. Letkol Istiqlah No. 109, Banyuwangi, Jawa Timur. Telp. - Fax. -
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PT Bank Syariah Mandiri
PP BANYUWANGI STIKOM Jl. Jendral A. Yani No. 80, Banyuwangi, Jawa Timur. Telp. - Fax. KC GRESIK JL. RA. Kartini No. 180, Gresik, Jawa Timur. Telp. (031) 3972053 Fax. (031) 3972065, 3979791 KCP LAMONGAN Jl. Panglima Sudirman Ruko L1 Blok A10-A11, Kec. Lamongan, Kab. Lamongan, Jawa Timur. Telp. (0322) 324996, 324997, 324998 Fax. (0322) 322338 KCP LAMONGAN BABAT Jl. Jombang No. 60, Banaran - Babat, Desa Banaran, Kec. Babat, Kab. Lamongan, Jawa Timur. Telp. (0322) 451994, 452017 Fax. (0322) 452024 PP GRESIK UNMUH Universitas Muhammadiyah Gresik, Jl. Sumatera No. 101, Gresik, Jawa Timur. Telp. - Fax. PP GRESIK YAYASAN PONPES MASKUMAMBANG Jl. Sembungan Kidul, Desa Sembungan, Kec. Kidul, Kab Gresik, Jawa Timur. Telp. - Fax. KC KUPANG JL. Sudirman No. 33, Kupang, Nusa Tenggara Timur. Telp. (0380) 834100, 823466, 828617 Fax. (0380) 826150 KCP POS KUPANG Jl. Palapa No. 1, Oebobo, Kota Kupang, Nusa Tenggara Timur. Telp. - Fax. KC BOJONEGORO Jl. Panglima Sudirman No. 99A, Kab. Bojonegoro, Jawa Timur. Telp. (0353) 892124, 892125 Fax. (0353) 892123 KCP TUBAN Jl. Basuki Rakhmat No. 278, Tuban, Jawa Timur. Telp. (0356) 333654, 333765 Fax. (0356) 332059 KCP BOJONEGORO SUMBERREJO Jl. Raya Sumberrejo No. 310, Sumberrejo, Bojonegoro, Jawa Timur. Telp. (0353) 333473, 333475 Fax. (0353) 333477 KCP BOJONEGORO KALITIDU Jl. Raya Kalitidu No. 98, Bojonegoro, Jawa Timur. Telp. (0353) 512323, 512324, 512321 Fax. (0353) 512320
PT Bank Syariah Mandiri
KK BOJONEGORO PONPES ATTANWIR Komplek Pondok Pesantren Attanwir, Jl. Raya Talun, Desa Talun, Kec. Sumberrejo, Kab. Bojonegoro, Jawa Timur. Telp. (0353) 333492 Fax. (0353) 333493, 333494 PP TUBAN SEKOLAH BINA ANAK SHOLEH SD Bina Anak Sholeh Tuban, Jl. Dr. Wahidin Sudiro Husodo No. 45, Tuban, Jawa Timur. Telp. - Fax. KC MADIUN Jl. Cokroaminoto No. 41, Madiun, Jawa Timur. Telp. (0351) 454000 Fax. (0351) 458300 KCP PONOROGO Jl. Soekarno Hatta No. 216, Kel. Banyudono, Kec. Ponorogo, Kab. Ponorogo, Jawa Timur. Telp. (0352) 487944 Fax. (0352) 486800 KCP NGAWI Jl. PB. Sudirman No. 70, Kel. Margomulyo, Kec. Ngawi, Kab. Ngawi, Jawa Timur. Telp. (0351) 748000 Fax. (0351) 747444 KCP MADIUN CARUBAN Jl. A. Yani No. 116B, Kel. Bangunsari, Kec. Mejayan, Kab. Madiun, Jawa Timur. Telp. (0351) 383915 Fax. (0351) 383924 KCP MAGETAN Jl. M. T. Haryono No. 5, Kel. Kepolorejo, Kec. Magetan, Kab. Magetan, Jawa Timur. Telp. (0351) 894062 Fax. (0351) 894991 KCP PACITAN Jl. Ahmad Yani No. 90, Desa Sidoharjo, Kec. Pacitan, Kab. Pacitan, Jawa Timur. Telp. (0357) 884949 Fax. (0357) 884353 PP PONOROGO INSURI Jl. Raya Ponorogo Trenggalek, Kec. Siman, Kab. Ponorogo, Jawa Timur. Telp. - Fax. KC SIDOARJO Komplek Ruko Sentral Jenggolo A3, Jl. Jenggolo No. 9, Pucang, Sidoarjo, Jawa Timur. Telp. (031) 8946449, 8947231, 8921033, 8922129 Fax. (031) 8957429 KCP JOMBANG Ruko Cempaka Mas Blok A/9, Jl. Soekarno-Hatta No. 1, Jombang, Jawa Timur. Telp. (0321) 855527, 855528 Fax. (0321) 855526 KCP MOJOKERTO Jl. Gajah Mada No. 60, Kel. Gedongan, Kec. Magersari,
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Kota Mojokerto, Jawa Timur. Telp. (0321) 333030 Fax. (0321) 333028 KCP KRIAN Jl. Imam Bonjol No. 108, Krian, Sidoarjo, Jawa Timur. Telp. (031) 8981741, 8981742, 8981743 Fax. (031) 8981740 KCP SIDOARJO WARU Komplek Ruko Juanda Bussiness Centre B-01, Jl Raya Juanda, Waru, Sidoarjo, Jawa Timur. Telp. (031) 8556664, 8556665 Fax. (031) 8553444 KCP JOMBANG MOJOAGUNG Jl. Raya Mojoagung No. 193, Kel. Kademangan, Kec. Mojoagung, Kab. Jombang, Jawa Timur. Telp. (0321) 490046, 490048 Fax. (0321) 490052 KCP MOJOKERTO MOJOSARI Jl. Brawijaya No. 27, Kel. Sawahan, Kec. Mojosari, Kab. Mojokerto, Jawa Timur. Telp. (0321) 598431 Fax. (0321) 598434 KCP SIDOARJO TROPODO Jl. Letjen Suprapto No. 8, Kel. Kepuhkiriman, Kec. Waru, Kab. Sidoarjo, Jawa Timur. Telp. (031) 8688348, 8688349, 8688350, 8688352, 8688354 Fax. (031) 8688351 KCP SIDOARJO SEPANJANG Jl. Pahlawan No. 260, Kel. Sepanjang, Kec. Taman, Kab. Sidoarjo, Jawa Timur. Telp. (031) 7889300 Fax. (031) 7889277 PP SIDOARJO RS. SITI KHODIJAH MUHAMMADIYAH Jl. Pahlawan No.260, Sepanjang, Sidoarjo, Jawa Timur. Telp. (031) 7876065 Fax. (031) 7876065 PP SIDOARJO UMSIDA Universitas Muhammadiyah, Jl. Majapahit No. 666 B, Sidoarjo, Jawa Timur. Telp. (031) 8959961 ax. (031) 8959961 PP JOMBANG UNIPDU Universitas Pesantren Tinggi Darul Ulum, Desa Rejoso, Peterongan, Jombang, Jawa Timur. Telp. (0321) 873655, 861097 Fax. (0321) 866631 PP SURABAYA AMANATUL UMMAH Jl. Siwalankerto Utara No. 56, Kel. Siwalankerto, Kec. Wonocolo, Surabaya, Jawa Timur. Telp. (031) 8477433 Fax. PP SIDOARJO SMAN 3 SMAN 3 Sidoarjo, Jl. Dr. Wahidin No. 130, Kab. Sidoarjo, Jawa Timur. Telp. - Fax. -
COMPANY DATA PP AKBID SITI KHODIJAH Gedung Akbid Siti Khodijah, Jl. Raya Pilang No .4, Wonoayu, Kab. Sidoarjo, Jawa Timur. Telp. - Fax. PP AMANATUL UMMAH PACET Desa Kembang Belor, Kec. Pacet, Kab. Mojokerto, Jawa Timur. Telp. - Fax. PP PESANTREN BAHRUL ULUM TAMBAKBERAS Jl. KH. Abdul Wahab Chasbulloh, Dusun Tambakberas, Desa Tambakrejo, Kec. Jombang, Kab. Jombang, Jawa Timur. Telp. - Fax. KC SURABAYA BOULEVARD Jl. Bukit Darmo Golf Blok B1-20, Desa Pradah Kalikendal, Kec. Dukuh Pakis, Surabaya, Jawa Timur. Telp. (031) 7345599 Fax. (031) 7346788 KCP SURABAYA WIYUNG Ruko Taman Pondok Indah, Jl. Raya Wiyung No. A-24, Surabaya, Jawa Timur. Telp. (031) 7665621, 7673005 Fax. (031) 7661364 KCP SURABAYA PASAR TURI Pertokoan Sinar Galaxy B-68, Jl. Pasar Turi, Kel. Bubutan, Kec. Bubutan, Kota Surabaya, Jawa Timur. Telp. (031) 3537503, 3537507, 3537492, 3537490 Fax. (031) 3512528 KCP SURABAYA PASAR ATOM Komplek Pertokoan Bunguran Indah, Jl. Bunguran No. 35 B, Kel. Bongkaran, Kec. Pabean Cantian, Surabaya, Jawa Timur. Telp. (031) 3538409 Fax. (031) 3555562 KCP SURABAYA SUNGKONO Komplek Ruko Darmo Galeria, Jl. Mayjen Sungkono No. 75 Blok B-3, Surabaya, Jawa Timur. Telp. (031) 5632255, 5630380 Fax. (031) 5623496 KK SURABAYA UNIVERSITAS AIRLANGGA Universitas Airlangga Kampus C, Jl. Mulyorejo, Kel. Mulyorejo, Kec. Mulyosari, Kota Surabaya, Jawa Timur. Telp. (031) 5910300, 5911600 Fax. (031) 5996458
Telp. (031) 8411230, 8411250 Fax. (031) 8411260 PP SURABAYA STIKES YARSIS Jl. SMEA No. 5, Surabaya, Jawa Timur. Telp. - Fax. -
REGION V
Jl. KH. Wahid Hasyim No. 244, Kel. Sungguminasa, Kec. Somba Opu, Kab. Gowa, Sulawesi Selatan. Telp. (0411) 840520 Fax. (0411) 880625 KCP MAKASSAR ANTANG Jl. Antang Raya No. 78 H, Kel. Antang, Kec. Manggala, Kota Makassar, Sulawesi Selatan. Telp. (0411) 495502 Fax. (0411) 495503
KC MAKASSAR Jl. Dr. Ratulangi No. 88 B-C-D, Makassar, Sulawesi Selatan. Telp. (0411) 833070 Fax. (0411) 833069
KCP MAKASSAR PASAR SENTRAL Jl. H. O. S. Cokroaminoto No. 21, Kel. Pattunuang, Kec. Wajo, Kota Makassar, Sulawesi Selatan. Telp. (0411) 3619967 Fax. (0411) 3623120
KCP MAKASSAR PANAKUKKANG Jl. Boulevard kav. Edelweys A3 No. 2, Panakkukang, Makassar, Sulawesi Selatan. Telp. (0411) 455151, 444718 Fax. (0411) 444726
KCP MAKASSAR AHMAD YANI Jl. Ahmad Yani, Kel. Pattunuang, Kec. Wajo, Kota Makassar, Sulawesi Selatan. Telp. (0411) 3622675 Fax. (0411) 3611329
KCP BULUKUMBA Jl. Lanto Dg. Passewang No. 33, Bulukumba, Sulawesi Selatan. Telp. (0413) 83088 Fax. (0413) 82099
KCP MITRA MANDIRI SULAWESI MAKASSAR Gedung Bank Mandiri Kantor Cabang Pembantu Sulawesi, Jl. Sulawesi No. 81, Kel. Pattunuang, Kec. Wajo, Kota Makassar. Telp. (0411) 3637694 Fax. (0411) 3637695
KCP PARE PARE Jl. Bau Massepe No. 419 D, Pare-pare, Sulawesi Selatan. Telp. (0421) 26699 Fax. (0421) 26566 KCP PALOPO Jl. Andi Djemma No. 4, Palopo, Sulawesi Selatan. Telp. (0421) 325936 Fax. (0421) 325929 KCP SENGKANG Jl. RA Kartini No. 86, Kel. Pattirosompe, Kec. Tempe, Kab. Wajo, Sulawesi Selatan. Telp. (0485) 324080 Fax. (0485) 323898 KCP MAKASSAR TAMALANREA Jl. Perintis Kemerdekaan Km. 10 No. 13, Kec. Tamalanrea, Kota Makassar, Sulawesi Selatan. Telp. (0411) 581115 Fax. (0411) 581171 KCP MAROS Jl. Jend. Sudirman, Kel. Pettuadae, Kec. Maros Baru, Kab. Maros, Sulawesi Selatan. Telp. (0411) 373201 Fax. (0411) 373205
KC BLITAR Jl. Tanjung No. A4-A5, Kel. Sukorejo, Kec. Sukorejo, Kota Blitar, Jawa Timur. Telp. (0342) 816999 Fax. (0342) 816777
KCP MAKASSAR PASAR BUTUNG Jl. Sulawesi No. 323, Kel. Butung, Kec. Wajo, Kota Makassar, Sulawesi Selatan. Telp. (0411) 3620100 Fax. (0411) 3617451
KC SURABAYA JEMUR HANDAYANI Jl. Jemur Handayani No. 3, Kel. Jemur Wonosari, Kec. Wonocolo, Surabaya, Jawa Timur.
KCP GOWA
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KCP POS MAKASSAR Kantor Pos Makassar, Jl. Slamet Riyadi No. 10, Kota Makassar, Sulawesi Selatan. Telp. - Fax. KK MAKASSAR UNISMUH Kampus Universitas Muhammadiyah Makassar, Jl. St. Alauddin No. 259, Makassar, Sulawesi Selatan. Telp. (0411) 840587 Fax. (0411) 845580 PP WATAMPONE STAIN Sekolah Tinggi Agama Islam Negeri (STAIN) Watampone, Jl. HOS. Cokroaminoto, Watampone, Sulawesi Selatan. Telp. (0481) 22050 Fax. (0481) 22050 PP MAKASSAR RS. IBNU SINA Rumah Sakit Ibnu Sina, Jl. Urip Sumoharjo No. 264 Km. 4, Makassar, Sulawesi Selatan. Telp. (0411) 420700 Fax. (0411) 420095 PP MAKASSAR UNIVERSITAS ISLAM Jl. Perintis Kemerdekaan Km. 10, Makassar, Sulawesi Selatan. Telp. - Fax. PP MAKASSAR DARUSSALAM Yayasan SMK Darussalam, Jl. Perintis Kemerdekaan Km. 19, Makassar, Sulawesi Selatan. Telp. - Fax. -
PT Bank Syariah Mandiri
PP PALOPO STAIN Jl. Agatis Balandai, Palopo, Sulawesi Selatan. Telp. - Fax. PP PAREPARE STAIN Jl. Amal Bakti No. 8, Parepare, Sulawesi Selatan. Telp. - Fax. PP MAKASSAR RS. FAISAL Yayasan RSI Faisal, Jl. Andi Pangeran Pettarani, Kel. Banta Bantaeng, Kec. Rappocini, Kota Makassar, Sulawesi Selatan. Telp. - Fax. KC BANJARMASIN Jl. Lambung Mangkurat No. 16, Banjarmasin, Kalimantan Selatan. Telp. (0511) 3366408, 3366409 Fax. (0511) 3366426 KCP BANJARMASIN A. YANI Jl. Jend. Ahmad Yani Km. 4 No. 27, Banjarmasin, Kalimantan Selatan. Telp. (0511) 3250033, 3250022 Fax. (0511) 3252974 KCP BATULICIN Jl. Raya Batulicin RT. 24 No. 193, Kel. Kampung Baru, Kec. Batulicin, Kab. Tanah Bumbu, Kalimantan Selatan. Telp. (0518) 70222, 75497 Fax. (0518) 75496 KCP BARABAI Jl. Ir. PM. Noor, Barabai, Kalimantan Selatan. Telp. (0517) 44121, 44141 Fax. (0517) 41909 KCP BANJARMASIN PS. CEMPAKA Jl. Niaga No. 7, Banjarmasin, Kalimantan Selatan. Telp. (0511) 3366008, 366009 Fax. (0511) 3361101 KCP BANJARMASIN SENTRA ANTASARI Jl. P. Antasari No. 75, Banjarmasin, Kalimantan Selatan. Telp. (0511) 3269969, 3268188 Fax. (0511) 3254445 KCP PELAIHARI Jl. Haji Boejasin RT. 21 RK. VI, Kel. Angsau, Kec. Pelaihari, Kab. Tanah Laut, Kalimantan Selatan. Telp. (0512) 22223 Fax. (0512) 22600 KCP KOTABARU Jl. Veteran No. 8 RT. 02 RW. 1, Desa Dirgahayu, Kec. Pulau Laut Utara, Kab. Kotabaru, Kalimantan Selatan. Telp. (0518) 21777 Fax. (0518) 22444 KCP KANDANGAN Jl. Letjen Suprapto No. 47, Kel. Kandangan Kota, Kec. Kandangan, Kab. Hulu Sungai Selatan, Kalimantan Selatan. Telp. (0517) 23311 Fax. (0517) 23312
PT Bank Syariah Mandiri
KCP AMUNTAI Jl. Abdul Azis, Kel. Antasari, Kec. Amuntai Tengah, Kab. Hulu Sungai Utara, Kalimantan Selatan. Telp. (0527) 63377 Fax. (0527) 63321
KCP BALIKPAPAN BARU Ruko Balikpapan Baru Blok C No. 1 A-B, Jl. M.T. Haryono, Balikpapan, Kalimantan Timur. Telp. (0542) 8870125, 8870149 Fax. (0542) 8870126
KCP POS BANJARMASIN Jl. Lambung Mangkurat No. 19, Kel. Kertak Baru Ilir, Kec. Banjarmasin Tengah, Banjarmasin, Kalimantan Selatan. Telp. (0511) 3352451 Fax. (0511) 3352451
KCP BALIKPAPAN RAPAK Ruko Regency Park Commercial Center No. 108, Jl. Soekarno Hatta, Balikpapan, Kalimantan Timur. Telp. (0542) 748730 Fax. (0542) 748734
KK BANJARMASIN S. PARMAN RS. Islam Banjarmasin (Eks Siolatama), Jl. Suwondo Parman No. 88, Banjarmasin, Kalimantan Selatan. Telp. (0511) 3366033, 3366034 Fax. (0511) 33560254
KCP BALIKPAPAN KEBUN SAYUR Komplek Plaza Kebun Sayur Balikpapan, Jl. Letjend. Suprapto Blok T40-T41, Kel. Baru Ilir, Kec. Balikpapan Barat, Balikpapan, Kalimantan Timur. Telp. (0542) 741918 Fax. (0542) 741747
KK BANJARBARU Jl. Ahmad Yani Km. 33,300, Banjarbaru, Kalimantan Selatan. Telp. (0511) 4789947, 4789948 Fax. (0511) 4789949
KCP PENAJAM Jl. Provinsi KM. 18 RT. 07, Kel. Petung, Kec. Penajam, Kab. Penajam Paser Utara, Kalimantan Timur. Telp. (0543) 5233273, 5233274, 5233275 Fax. (0543) 5233271
KK BANJARMASIN SD MUHAMMADIYAH SD Muhammadiyah VIII & X ,Jl. Cempaka I RT. 3, Kel Kertak Baru Ulu, Banjarmasin, Kalimantan Selatan. Telp. (0511) 3361808 Fax. (0511) 3361808
KCP POS BALIKPAPAN Jl. Jend. Sudirman No. 31, Kel. Klandasan Ulu, Kec. Balikpapan Selatan, Kota Balikpapan, Kalimantan Timur. Telp. (0542) 7068496 Fax. -
KK BANJARMASIN HASAN BASRI Jl. Brigjen Haji Hasan Basri RT. 12, Kel. Alalak Utara, Kec. Banjarmasin Utara, Banjarmasin, Kalimantan Selatan. Telp. (0511) 3304694 Fax. (0511) 3304323 KK BANJARMASIN STIMIK Jl. Pangeran Hidayatullah RT. 14 (Samping Jembatan Benua Anyar), Kel. Sungai Jingah, Kec. Banjarmasin Utara, Banjarmasin, Kalimantan Selatan. Telp. (0511) 4315747 Fax. (0511) 4315748 PP BANJARMASIN POLIBAN Komplek Politeknik Negeri, Jl. Brigjend H. Hasan Basry, Banjarmasin, Kalimantan Selatan. Telp. (0511) 3304372 Fax. (0511) 3304372 PP BANJARMASIN SMUN 1 Jl. Mulawarman No. 25, Banjarmasin, Kalimantan Selatan. Telp. - Fax. KC BALIKPAPAN Jl. Jend. Sudirman No. 330, Balikpapan, Kalimantan Timur. Telp. (0542) 413382, 414630 Fax. (0542) 412109 KCP BALIKPAPAN SEPINGGAN Jl. Marsma Iswahyudi No. 471 Rt. 028, Kel. Sepinggan, Kec. Balikpapan Selatan, Kota Balikpapan, Kalimantan Timur. Telp. (0542) 771505, 771507 Fax. (0542) 771509
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KC SAMARINDA Jl. Antasari No. 33 RT 02, Kel. Air Putih, Kec. Samarinda Ulu, Kota Samarinda, Kalimantan Timur. Telp. (0541) 7271271, 7271272, 7271273, 7271274 Fax. (0541) 7271276, 7271277, 7271278 KCP TARAKAN Jl. Yos Sudarso No. 64, Kota Tarakan, Kalimantan Utara. Telp. (0551) 35050 Fax. (0551) 35051 KCP PAHLAWAN Jl. Pahlawan Blok F No. 5 B, Kel. Dadimulya, Kec. Samarinda Ulu, Samarinda, Kalimantan Timur. Telp. (0541) 731200 Fax. (0541) 731299 KCP SAMARINDA SUDIRMAN Jl. Jenderal Sudirman No. 24, Kel. Pasar Pagi, Kec. Samarinda Ilir, Kota Samarinda, Kalimantan Timur. Telp. (0541) 203012 Fax. (0541) 203017 KCP SAMARINDA HASAN BASRI Pertokoan Merak Indah, Jl. Hasan Basri No. 14Bg, Kel. Bandara, Kec. Sungai Pinang, Kota Samarinda, Kalimantan Timur. Telp. (0541) 736399 Fax. (0541) 736599 KCP SAMARINDA LAMBUNG MANGKURAT Jl. Lambung Mangkurat No. 18 B, Samarinda, Kalimantan Timur. Telp. (0541) 735444 Fax. (0541) 767459
COMPANY DATA KCP NUNUKAN Jl. Yos Sudarso No. 10 RT. 03, Kel. Nunukan, Kec. Nunukan, Kab. Nunukan, Kalimantan Utara. Telp. (0556) 21152 Fax. (0556) 21128 KC PALU Jl. Wolter Monginsidi No. 77, Palu, Sulawesi Tengah. Telp. (0451) 426222 Fax. (0451) 452108 KCP PARIGI MOUTONG Jl. Trans Sulawesi, Parigi Moutong, Sulawesi Tengah. Telp. (0450) 21345, 21402, 21403, 21409 Fax. (0450) 21411 KCP PALU PLAZA Komplek Palu Plaza Blok IV, Jl. Sis Al Jufri, Palu, Sulawesi Tengah. Telp. (0451) 427769, 426093, 426721 Fax. (0451) 426182 KCP MOROWALI Jl. Trans Sulawesi, Ds. Matansala, Kec. Bungku Tengah, Kab. Morowali, Sulawesi Tengah. Telp. 082188517666 Fax. (0451) 452108 KCP SIGI Jl. Lasoso, Kab. Sigi, Sulawesi Tengah. Telp. (0451) 482289 Fax. (0451) 482573 KCP TOLITOLI Jl. Usman Binol No. 28, Tolitoli, Sulawesi Tengah. Telp. (0453) 22322, 23345, 22687 Fax. (0453) 22336 KCP PALU TADULAKO Jl. Trans Sulawesi, Kel. Tondo, Kec. Palu Timur, Kota Palu, Sulawesi Tengah. Telp. (0451) 426499 Fax. (0451) 426488 KCP POSO Jl. Pulau Irian No. 1, Desa Gebangrejo, Kec. Poso Kota, Kab. Poso, Sulawesi Tengah. Telp. (0452) 325636 Fax. (0452) 325637 KC KUTAI KARTANEGARA Jl. KH. Akhmad Muksin RT. 01, Kel. Timbau, Kec. Tenggarong, Kab. Kutai Kartanegara, Kalimantan Timur. Telp. (0541) 665362, 665365 Fax. (0541) 665017 KCP SANGATTA Jl. Yos Sudarso II No. 103, Kel. Sangatta Utara, Kec. Sangatta Utara, Kab. Kutai Timur, Kalimantan Timur. Telp. (0549) 2027676, 2027667 Fax. (0549) 2027674 KCP KUTAI MUARA JAWA Jl. Ahmad Yani No. 8A, Handil II, Muara Jawa, Kabupaten Kutai Kartanegara, Kalimantan Timur. Telp. (0541) 7893428, 7893429 Fax. (0541) 7893427
KCP KUTAI SENDAWAR Jl. Ki Hajar Dewantara, Ruko No. 1 RT. 28, Kel. Melak Ulu, Kec. Melak, Kab. Kutai Barat, Kalimantan Timur. Telp. (0545) 42164 Fax. (0545) 42156
KCP JAYAPURA DOK II Ruko Pasifik Permai Dok II Blok G-6, Kel. Bhayangkara, Kec. Jayapura Utara, Kota Jayapura, Papua. Telp. (0967) 522105 ax. (0967) 522409
KCP KUTAI TENGGARONG SEBERANG Jl. Mulawarman RT. 011, Desa Bangunrejo, Kec. Tenggarong Seberang, Kab. Kutai Kartanegara, Kalimantan Timur. Telp. (0541) 7984555 Fax. -
KCP JAYAPURA SENTANI Jl. Kemiri Sentani No. 334, Kel. Hinekombe, Kec. Sentani, Kab. Jayapura, Papua. Telp. (0967) 593087 Fax. (0967) 593091
PP KUTAI UNIKARTA Jl. Gunung Kombeng, Kota Tenggarong, Kab. Kutai Kartanegara, Kalimantan Timur. Telp. - Fax. KC MANADO Kawasan Mega Mas, Jl. Piere Tendean Boulevard Blok I D-1 No. 28, Manado, Sulawesi Utara. Telp. (0431) 879444 Fax. (0431) 879492 KCP BITUNG Jl. Yos Sudarso No. 6, Komplek Pasar Bitung, Bitung, Sulawesi Utara. Telp. (0438) 35244 Fax. (0438) 36610 KCP KOTAMOBAGU Jl. Adampe Dolot Ruko No. 15 B, Kota Kotamobagu, Sulawesi Utara. Telp. (0434) 2629209, 2629297, 2629498 Fax. (0434) 2629298 KCP MANADO PASAR 45 Jl. Walanda Maramis No. 100, Kel. Pinaesaan, Kec. Wenang, Kota Manado, Sulawesi Utara. Telp. (0431) 850490 Fax. (0431) 850432 KCP TOMOHON Jl. Raya Tomohon, Kel. Talete I, Kec. Tomohon Tengah, Kota Tomohon, Sulawesi Utara. Telp. (0431) 353112 Fax. (0431) 353183 KCP POS MANADO Jl. Sam Ratulangi No. 23, Kel. Wenang, Kec. Wenang, Kota Manado, Sulawesi Utara. Telp. (0431) 840263 Fax. KC JAYAPURA Komplek Perniagaan Kelapa Dua - Entrop Jl. Raya Kelapa Dua No. 1-2, Entrop, Jayapura, Papua. Telp. (0967) 550965, 550966 Fax. (0967) 550968 KCP JAYAPURA ABEPURA Jl. Raya Abepura Kotaraja No. 88A, Kel. Vim, Kec. Jayapura Selatan, Kota Jayapura, Papua. Telp. (0967) 583341 ax. (0967) 583540
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KC GORONTALO Jl. Ahmad Yani No. 127, Gorontalo. Telp. (0435) 828666 Fax. (0435) 830056 KC TERNATE Ruko Jatiland Business Center No. 19-20, Ternate, Maluku Utara. Telp. (0921) 3127220 Fax. (0921) 3127336 KCP BACAN Jl. Poros Tomori, Desa Tomori, Kec. Bacan, Kab. Halmahera Selatan, Maluku Utara. Telp. (0927) 2321133 Fax. (0927) 2321199 PP TERNATE UMMU Jl. Ahmad Dahlan No. 100, Kec. Ternate Selatan, Kota Ternate, Maluku Utara. Telp. - Fax. KC MAMUJU Jl. Urip Sumoharjo No. 44, Mamuju, Sulawesi Barat. Telp. (0426) 22651, 2703380 Fax. (0426) 21922 KCP POLEWALI Jl. Muh. Yamin No. 73, Kota Polewali, Kab. Polewali Mandar, Sulawesi Barat. Telp. (0428) 22252 Fax. (0428) 21692 KC PALANGKARAYA Jl. Ahmad Yani No. 46, Palangkaraya, Kalimantan Tengah. Telp. (0536) 3222223 Fax. (0536) 3227000 KCP KAPUAS Jl. Ahmad Yani No. 52, Kel. Selat Hilir, Kec. Selat, Kab. Kapuas, Kalimantan Tengah. Telp. (0513) 21888 Fax. (0513) 24111 KCP MUARA TEWEH Jl. Ahmad Yani No. 87, Kel. Melayu, Kec. Teweh Tengah, Kab. Barito Utara, Kalimantan Tengah. Telp. (0519) 21234 Fax. (0519) 23777
PT Bank Syariah Mandiri
KC SORONG Jl. Ahmad Yani No. 21, Sorong, Papua Barat. Telp. (0951) 323366 Fax. (0951) 323360 KC AMBON Jl. Pala No. 2, Kel. Uritetu, Kec. Sirimau, Kota Ambon, Maluku. Telp. (0911) 344572, 344337 Fax. (0911) 344582 KCP AMBON DIPONEGORO Jl. Diponegoro No. 33, Kel. Ahusen, Kec. Sirimau, Kota Ambon, Maluku. Telp. (0911) 355478, 355458, 355498 Fax. (0911) 355468 KCP BULA Jl. Wailola, Desa Bula, Kec. Bula, Kab. Seram Bagian Timur, Maluku. Telp. (0915) 21469 Fax. (0915) 21470
KC SAMPIT Jl. M. T. Haryono No. 6, Kel. Mentawa Baru Hulu, Kec. Mentawa Baru Ketapang, Kab. Kotawaringin Timur, Kalimantan Tengah. Telp. (0531) 24222 Fax. (0531) 24400 KC BONE Jl. Jend. Ahmad Yani No. 48, Watampone, Kel. Macanang, Kec. Tanette Riattang Barat, Kab. Bone, Sulawesi Selatan. Telp. (0481) 28774 Fax. (0481) 28775 KC BONTANG Jl. MT. Haryono No. 53, Kel. Gunung Elai (d/h Desa Bontang Baru), Kec. Bontang Utara, Kota Bontang, Kalimantan Timur. Telp. (0548) 20007 Fax. (0548) 25005
KC MARTAPURA Jl. A. Yani KM 40 No. 5, Martapura, Kalimantan Selatan. Telp. (0511) 4722713, 4722755 Fax. (0511) 4722714 KC KENDARI Jl. Abdullah Silondae No. 137, Kel. Korumba, Kec. Mandonga, Kota Kendari, Sulawesi Tenggara. Telp. (0401) 3128822, 3128245, 3128897 Fax. (0401) 3127478 KCP BAUBAU Jl. Yos Sudarso No. 33, Kel. Wale, Kec. Wolio, Kota Baubau, Sulawesi Tenggara. Telp. (0402) 2824002 Fax. (0402) 2824004 KC PANGKALAN BUN Jl. Sukma Arianingrat No. 14, Kel. Baru, Kec. Arut Selatan, Kab. Kota Waringin Barat, Kalimantan Tengah. Telp. (0532) 25624, 25625 Fax. (0532) 25636 KC TANJUNG Jl. Ir. Pangeran Haji Muhammad Noor No. 58, Desa Pembataan, Kec. Murung Pudak, Kab. Tabalong, Kalimantan Selatan. Telp. (0526) 2024484 Fax. (0526) 2024494 KC LUWUK Jl. Urip Sumoharjo No. 18C dan 18D, Kel. Simpong, Kec. Luwuk, Kab. Banggai, Sulawesi Tengah. Telp. (0461) 21214, 22779 Fax. (0461) 325456 KCP AMPANA Jl. Moh Hatta No. 9 A-B, Kec. Ampana, Kab. Tojo UnaUna, Sulawesi Tengah. Telp. (0464) 22316, 22317, 22320 Fax. (0464) 22322
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INDEPENDENT AUDITOR’S REPORT
Financial Statements With Independent Auditor,s Report December 31, 2013 and 2012
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East Nusa Tenggara - Sasando Banking traditional Hall - Bank musical Syariah instrument Mandiri
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Statement Letter on Responsibility for Contents Accuracy of this Annual Report PT Bank Syariah Mandiri Tahun 2013 The Management assumes responsibility for this Annual Report, along with Good Corporate Governance Report, Financial Reports and other related information as approved by the Board of Commissioners and Board of Directors with the signature as follows : Jakarta, February 25, 2014 Board of Commissioners
Achmad Marzuki President Commissioner/ Independent Commissioner
Ramzi A. Zuhdi Independent Commissioner
Agus Fuad Commissioner
Bambang Widianto* Independent Commissioner
Sulaeman Commissioner
Board of Directors
Yuslam Fauzi President Director
Hanawijaya Director
Amran Nasution Director
Sugiharto Director
*)
Zainal Fanani Director
Achmad Syamsudin Director
Punishment for BSM management, if proven committing conflict of interest action and bring loss to the Bank.
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INDEPENDENT AUDITOR’S REPORT APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language
DATE
: ______________________________
NAME
: ______________________________
POSITION
: ______________________________
PT BANK SYARIAH MANDIRI SIGNATURE FINANCIAL STATEMENTS WITH INDEPENDENT AUDITORS’ REPORT DECEMBER 31, 2013 AND 2012
: ______________________________
Table of Contents Page Independent Auditors’ Report Statements of Financial Position .................................................................................................... 320-325 1-5 Statements of Comprehensive Income .......................................................................................... 326-327 6-7 Statements of Changes in Shareholders’ Equity.............................................................................
8 328
Statements of Cash Flows ............................................................................................................. 329-330 9-10 Statements of Reconciliation of Income and Revenue Sharing .......................................................
331 11
Statements of Sources and Uses of Zakat Funds...........................................................................
332 12
Statements of Sources and Uses of Qardhul Hasan Funds ............................................................
333 13
Notes to Financial Statements ....................................................................................................... 334-414 14-94
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APPROVAL FOR PRINTING DATE
: ______________________________
NAME
: ______________________________
POSITION
: ______________________________
SIGNATURE
: ______________________________
This report is originally issued in the Indonesian language.
Independent Auditors’ Report Report No. RPC-4757/PSS/2014 The Shareholders and the Boards of Commissioners and Directors PT Bank Syariah Mandiri We have audited the accompanying financial statements of PT Bank Syariah Mandiri, which comprise the statement of financial position as of December 31, 2013, and the statement of comprehensive income, statement of changes in equity, statement of cash flows, reconciliation of income and revenue sharing, sources and uses of zakat funds, and sources and uses of qardhul hasan funds for the year then ended, and a summary of significant accounting policies and other explanatory information. Management’s responsibility for the financial statements Management is responsible for the presentation and fair presentation of these financial statements in accordance with Indonesian Financial Accounting Standards, and for such internal control as management determines is necessary to enable the preparation of financial statements that free from material misstatement, whether due to fraud or error. Auditors’ responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with Standards on Auditing established by the Indonesian Institute of Certified Public Accountants. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors’ judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditors consider internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
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INDEPENDENT AUDITOR’S REPORT APPROVAL FOR PRINTING DATE
: ______________________________
NAME
: ______________________________
POSITION
: ______________________________
SIGNATURE
: ______________________________
This report is originally issued in the Indonesian language.
Independent Auditors’ Report (continued) Report No. RPC-4757/PSS/2014 (continued) Opinion In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of PT Bank Syariah Mandiri as of December 31, 2013, and its financial performance and cash flows, reconciliation of income and revenue sharing, sources and uses of zakat funds, and sources and uses of qardhul hasan funds for the year then ended, in accordance with Indonesian Financial Accounting Standards. Purwantono, Suherman & Surja
Benyanto Suherman Public Accountant Registration No. AP.0685 January 22, 2014
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APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language
DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI POSITION STATEMENTS OF FINANCIAL POSITION SIGNATURE December 31, 2013 and 2012 (Expressed in Rupiah, unless otherwise stated)
Notes
2013
: ______________________________ : ______________________________
2012
ASSETS CASH
2a
1,444,785,308,390
1,108,282,646,315
2a,2d,3
9,157,117,991,948
5,425,378,388,198
CURRENT ACCOUNTS WITH OTHER BANKS 2a,2b,2c,2e Third parties 4,38 Related parties
518,373,235,873 169,097,399,528
165,196,724,485 106,092,735,229
Total current accounts with other banks Allowance for possible losses
687,470,635,401 (6,932,161,458)
271,289,459,714 (2,728,200,198)
Net
680,538,473,943
268,561,259,516
50,000,000,000
65,000,000,000 105,000,000,000
Total placements with other banks Allowance for possible losses
50,000,000,000 (500,000,000)
170,000,000,000 (1,700,000,000)
Net
49,500,000,000
168,300,000,000
304,994,504,003 26,405,293,949
430,389,967,575 27,351,723,031
1,150,208,992,397 35,361,055,150
1,426,828,108,473 11,048,605,000
Total investment in marketable securities Allowance for possible losses
1,516,969,845,499 (143,320,241,814)
1,895,618,404,079 (143,972,657,984)
Net
1,373,649,603,685
1,751,645,746,095
CURRENT ACCOUNTS AND PLACEMENTS WITH BANK INDONESIA
PLACEMENTS WITH OTHER BANKS Third parties Related parties
INVESTMENT IN MARKETABLE SECURITIES including unamortized difference between acquisition cost and nominal amount of (Rp343,434,796) and Rp118,745,666 as of December 31, 2013 and 2012, respectively Third parties At cost Available-for-sale Related parties At cost At fair value
2b,2c,2f 5,38
2b,2c,2g, 6,38
The accompanying notes form an integral part of these financial statements.
1
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INDEPENDENT AUDITOR’S REPORT These report is originally issued in the Indonesian language
APPROVAL FOR PRINTING DATE
PT BANK SYARIAH MANDIRI NAME STATEMENTS OF FINANCIAL POSITION (continued) POSITION December 31, 2013 and 2012 (Expressed in Rupiah, unless otherwise stated) SIGNATURE Notes
: ______________________________ : ______________________________ : ______________________________ : ______________________________
2013
2012
33,085,804,271,288 121,571,475,843
27,342,232,464,859 207,032,014,855
33,207,375,747,131
27,549,264,479,714
Istishna net of deferred income of Rp14,382,619,239 and Rp20,373,199,886 as of December 31, 2013 and 2012, respectively Third parties
57,952,930,826
67,982,544,214
Ijarah Receivables Third parties
67,609,739,857
136,307,696,686
RECEIVABLES Murabahah net of deferred income of Rp13,374,091,179,863 and Rp10,843,638,654,918 as of December 31, 2013 and 2012, respectively Third parties Related parties
2b,2c,2h 7,38
Total murabahah receivables
Total receivables Allowance for possible losses
33,332,938,417,814 (970,683,944,472)
27,753,554,720,614 (796,364,309,536)
Net
32,362,254,473,342
26,957,190,411,078
FUNDS OF QARDH Third parties Allowance for possible losses
2c,2j,8
5,613,054,861,843 (58,316,069,764)
6,199,260,625,477 (65,613,771,900)
5,554,738,792,079
6,133,646,853,577
3,811,274,743,281 97,489,261,239
4,065,217,157,991 208,542,959,936
Total mudharabah Allowance for possible losses
3,908,764,004,520 (205,066,106,677)
4,273,760,117,927 (112,259,348,404)
Net
3,703,697,897,843
4,161,500,769,523
Musyarakah Third parties Related parties
7,197,696,504,980 140,428,887,882
6,132,965,757,581 203,803,014,000
Total musyarakah Allowance for possible losses
7,338,125,392,862 (289,418,367,296)
6,336,768,771,581 (287,691,781,654)
Net
7,048,707,025,566
6,049,076,989,927
Total financing Allowance for possible losses
11,246,889,397,382 (494,484,473,973)
10,610,528,889,508 (399,951,130,058)
Net
10,752,404,923,409
10,210,577,759,450
Net FINANCING Mudharabah Third parties Related parties
2b,2c,2i,9, 10,38
The accompanying notes form an integral part of these financial statements.
2
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These report is originally issued in the Indonesian language. APPROVAL FOR PRINTING
PT BANK SYARIAH MANDIRI DATE STATEMENTS OF FINANCIAL POSITION (continued) NAME December 31, 2013 and 2012 POSITION (Expressed in Rupiah, unless otherwise stated)
SIGNATURE
Notes ASSETS ACQUIRED FOR IJARAH Acquisition cost Accumulated depreciation
2k,11
: ______________________________
2013
2012
267,552,051,666
191,464,451,340
1,435,571,842,485 (647,700,758,574)
1,207,883,104,151 (464,284,734,212)
787,871,083,911
743,598,369,939
2ab,18
145,608,904,944
122,002,307,392
2c
13,062,119,787 (13,062,119,787)
13,062,119,787 (13,062,119,787)
2m,12
Foreclosed assets Allowance for possible losses Net Others - Net
: ______________________________
375,242,524,434 (183,778,073,094)
Net book value OTHER ASSETS Deferred tax assets - Net
: ______________________________
456,551,018,769 (188,998,967,103)
Net FIXED ASSETS Acquisition cost Accumulated depreciation
: ______________________________
2c,2n,13
Total other assets TOTAL ASSETS
-
-
1,389,339,570,472
1,148,747,591,622
1,534,948,475,416
1,270,749,899,014
63,965,361,177,789
54,229,395,784,522
684,043,514,497 69,587,375,504
633,550,680,738 112,812,995,821
753,630,890,001
746,363,676,559
56,965,430,189
39,952,815,813
7,362,822,871,941 144,563,753,266
6,387,502,697,541 43,409,216,801
1,607,829,438,489 120,826,446
901,347,921,061 176,401,832
9,115,336,890,142
7,332,436,237,235
27,681,869,683 517,195,092
31,585,080,325 6,391,071,948
28,199,064,775
37,976,152,273
LIABILITIES, TEMPORARY SYIRKAH FUNDS AND SHAREHOLDERS’ EQUITY LIABILITIES LIABILITIES DUE IMMEDIATELY Third parties Related parties
2b,2o,14, 38
Total UNDISTRIBUTED THIRD PARTIES’ SHARE ON RETURN OF TEMPORARY SYIRKAH FUNDS AND WADIAH BONUS WADIAH DEPOSITS Wadiah demand deposits Third parties Related parties Wadiah savings deposit Third parties Related parties
2w,15 2b,2p,16,38
Total wadiah deposits DEPOSITS FROM OTHER BANKS Wadiah demand deposits Third parties Related parties
2b,2q,17,38
Total deposits from other banks
The accompanying notes form an integral part of these financial statements. 3
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INDEPENDENT AUDITOR’S REPORT APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language.
DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI POSITION STATEMENTS OF FINANCIAL POSITION (continued) December 31, 2013 and 2012 SIGNATURE (Expressed in Rupiah, unless otherwise stated) Notes TAXES PAYABLE
: ______________________________
2013
2012
2ab,18
47,180,538,356
112,464,259,877
2b,2r,19,38
600,000,000,000
600,000,000,000
2,694,056,815
2,971,015,164
425,678,330,288
296,466,988,933
11,029,685,200,566
9,168,631,145,854
405,000,000,000 95,000,000,000
425,000,000,000 75,000,000,000
500,000,000,000
500,000,000,000
3,612,062,836 689,174,056,925
271,227,198 720,450,853,824
692,786,119,761
720,722,081,022
Unrestricted investment mudharabah saving deposits Third parties Related parties
19,709,269,202,079 94,833,053,376
17,496,073,494,751 29,929,009,897
Total unrestricted investment mudharabah saving deposits
19,804,102,255,455
17,526,002,504,648
Unrestricted investment mudharabah time deposits Third parties Related parties
25,903,040,110,679 931,213,624,913
19,878,232,704,618 1,948,411,728,983
Total unrestricted investment mudharabah time deposits
26,834,253,735,592
21,826,644,433,601
47,331,142,110,808
40,073,369,019,271
Bank Unrestricted investment mudharabah saving deposits Third parties Unrestricted investment mudharabah time deposits Third parties
144,875,521,584
181,054,334,269
83,396,871,023
122,764,968,979
Total temporary syirkah funds bank
228,272,392,607
303,819,303,248
FINANCING RECEIVED ESTIMATED LOSSES ON COMMITMENTS AND CONTINGENCIES
2c,20
OTHER LIABILITIES
21
TOTAL LIABILITIES SUBORDINATED NOTES ISSUED Third parties Related parties
2s,22,38 2b
Total TEMPORARY SYIRKAH FUNDS Non-bank Restricted investments Third parties Demand deposits Saving deposits
2b,2t,23,38
Total restricted investments
.
: ______________________________
Total temporary syirkah funds non-bank
The accompanying notes form an integral part of these financial statements. 4
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These report is originally issued in the Indonesian language.
APPROVAL FOR PRINTING DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI POSITION STATEMENTS OF FINANCIAL POSITION (continued) SIGNATURE December 31, 2013 and 2012 (Expressed in Rupiah, unless otherwise stated) Notes TEMPORARY SYIRKAH FUNDS (continued)
: ______________________________ : ______________________________
2013
2012
2b,2t,23,38
Musyarakah - mudharabah musytarakah demand deposits Third parties TOTAL TEMPORARY SYIRKAH FUNDS
14,262,559,498
2,886,139,624
47,573,677,062,913
40,380,074,462,143
1,489,021,935,000
1,458,243,565,000
SHAREHOLDERS’ EQUITY Share capital - Rp5,000 par value per shares Authorized capital - 500,000,000 shares as of December 31, 2013 and 2012 Issued and fully paid-up capital 297,804,387 shares and 291,648,713 shares as of December 31, 2013 and 2012, respectively
24
Unrealized (loss)/ gain on - available for-sale securities-net of deferred tax
(446,029,412)
Retained earnings Appropriated Unappropriated
27
263,792,273
291,648,713,000 3,081,774,295,722
231,648,713,000 2,490,534,106,252
TOTAL SHAREHOLDERS’ EQUITY
4,861,998,914,310
4,180,690,176,525
TOTAL LIABILITIES, TEMPORARY SYIRKAH FUNDS, AND SHAREHOLDERS’ EQUITY
63,965,361,177,789
54,229,395,784,522
The accompanying notes form an integral part of these financial statements. 5
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343
Annual Report 2013
INDEPENDENT AUDITOR’S REPORT APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language.
DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI POSITION STATEMENTS OF COMPREHENSIVE INCOME SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah, unless otherwise stated) Notes INCOME FROM FUND MANAGEMENT BY BANK AS MUDHARIB Income from sales and purchases Murabahah margin income Istishna income-net Total income from sales and purchases Income from rent Ijarah income - net Income from profit sharing Mudharabah income Musyarakah income
: ______________________________ : ______________________________
2013
2012
3,773,500,454,359 6,131,214,513
3,077,631,899,360 4,123,880,824
2u,29
3,779,631,668,872
3,081,755,780,184
2u,29 29
42,677,442,776
33,111,317,787
543,973,127,108 704,006,732,169
629,464,723,271 602,854,635,101
Total income from profit sharing
2u,29
1,247,979,859,277
1,232,319,358,372
Other main operating income
2v,29
367,562,425,529
337,606,841,004
5,437,851,396,454
4,684,793,297,347
(2,080,941,725,825)
(1,913,566,492,744)
3,356,909,670,629
2,771,226,804,603
1,193,130,200,084 288,532,495
1,131,724,577,946 7,022,971,321
1,193,418,732,579
1,138,747,549,267
Total income from fund management by Bank as Mudharib THIRD PARTIES’ SHARE ON RETURN OF TEMPORARY SYIRKAH FUNDS
2w,30
BANK’S SHARE ON RETURN OTHER OPERATING INCOME Fee based income from banking services Fee income from restricted investments
2y,2b,31,38
Total other operating income
OPERATING EXPENSES Personnel expenses 2b,2z,32,38 (1,192,402,774,018) Administrative expenses 33 (1,125,393,507,431) Provision for possible losses on earning assets expenses 2c,34 (837,322,319,025) Fixed assets depreciation expenses (187,285,335,024) Profit sharing expenses for financing received (53,048,704,960) Profit sharing expenses for subordinated notes issued (47,700,748,473) (Provision)/reversal of allowance for possible losses on non-earning assets 2c,34 (34,902,784,293) Reversal/(provision) of estimated losses on commitments and contingencies 2c,34 1,660,101,530 Other operating expenses: 35 Bonus for wadiah deposits (66,907,487,861) Others (109,459,961,260) Total operating expenses
(3,652,763,520,815)
OPERATING INCOME
897,564,882,393
(973,159,658,117) (1,035,104,821,179) (384,666,111,796) (139,364,040,496) (71,317,055,905) (53,592,152,787) 9,000,000,000 (193,089,407) (42,941,658,670) (99,402,173,494) (2,790,740,761,851) 1,119,233,592,019
The accompanying notes form an integral part of these financial statements. 6
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APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language.
DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI POSITION STATEMENTS OF COMPREHENSIVE INCOME (continued) SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah, unless otherwise stated) Notes NON-OPERATING INCOME AND EXPENSES Non-operating income Non-operating expenses
2aa,36
Total non-operating income and expenses INCOME BEFORE ZAKAT AND INCOME TAX BENEFIT/(EXPENSE)
: ______________________________ : ______________________________
2013
2012
9,747,808,077 (813,796,301)
7,453,555,593 (1,422,898,552)
8,934,011,776
6,030,657,041
906,498,894,169
1,125,264,249,060
ZAKAT
41
(22,662,472,354)
INCOME BEFORE INCOME TAX BENEFIT/(EXPENSE)
18
883,836,421,815
2ab,18
(255,966,222,500) 23,369,990,155
(320,601,325,750) 29,159,243,929
(232,596,232,345)
(291,442,081,821)
651,240,189,470
805,690,561,013
INCOME TAX BENEFIT/(EXPENSE) Current Deferred Income tax expense - net NET INCOME OTHER COMPREHENSIVE (EXPENSE)/INCOME Unrealized (loss) / gain on availablefor-sale marketable securities, net of tax
(28,131,606,226) 1,097,132,642,834
(709,821,685)
TOTAL COMPREHENSIVE INCOME BASIC EARNINGS PER SHARE
2ac
1,735,146,641
650,530,367,785
807,425,707,654
2,232
3,382
The accompanying notes form an integral part of these financial statements. 7
PT Bank Syariah Mandiri
345
Annual Report 2013
INDEPENDENT AUDITOR’S REPORT APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language.
DATE
: ______________________________
NAME
: ______________________________
POSITION
: ______________________________
PT BANK SYARIAH MANDIRI SIGNATURE STATEMENTS OF CHANGES IN SHAREHOLDER’S EQUITY Years ended December 31, 2013 and 2012 (Expressed in Rupiah, unless otherwise stated)
Notes Balance as of December 31, 2011 Effect of adoption of SFAS No. 11
Unrealized (loss)/ gain on Available-for-Sale Marketable Securities - Net of Deferred Tax
Issued and Fully Paid-up Capital 1,158,243,565,000
6
Unrealized gain on available-for-sale marketable securities net of deferred tax
5,068,645,632
-
(6,540,000,000)
: ______________________________
Retained Rearnings
Total Shareholders’ Equity
Appropriated
Unappropriated
206,993,157,660
1,702,959,100,579
3,073,264,468,871
-
6,540,000,000
-
-
1,735,146,641
-
1,735,146,641
-
Additional general reserve
27
-
-
24,655,555,340
Additional paid-in capital
25
300,000,000,000
-
-
-
300,000,000,000
-
-
-
805,690,561,013
805,690,561,013
1,458,243,565,000
263,792,273
231,648,713,000
2,490,534,106,252
4,180,690,176,525
-
-
Net income for 2012 Balance as of December 31, 2012 Unrealized loss on available-for-sale marketable securities net of deferred tax
-
(709,821,685)
(24,655,555,340)
(709,821,685)
Additional general reserve
27
-
-
60,000,000,000
Additional paid-in capital
25
30,778,370,000
-
-
-
30,778,370,000
-
-
-
651,240,189,470
651,240,189,470
291,648,713,000
3,081,774,295,722
4,861,998,914,310
Net income for 2013 Balance as of December 31, 2013
1,489,021,935,000
(446,029,412)
(60,000,000,000)
-
-
The accompanying notes form an integral part of these financial statements. 8
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These report is originally issued in the Indonesian language.
DATE
: ______________________________
PT BANK SYARIAH MANDIRI NAME STATEMENTS OF CASH FLOWS POSITION Years ended SIGNATURE December 31, 2013 and 2012 (Expressed in Rupiah, unless otherwise stated) Notes CASH FLOWS FROM OPERATING ACTIVITIES Receipts from profit sharing, sales and purchases and rent Payments of profit sharing on temporary syirkah funds Receipts from other operating income Receipts from recovery of financing and receivable written off Payments of personnel expenses Payments of tantiem Payments for operating expenses excluding personnel cost Payments of tax Payments of zakat Distribution of qardhul hasan funds Receipts of non- operating income Decrease/(increase) in operating assets: Placement with other banks Placement with Bank Indonesia Marketable securities - measured at fair value through profit and loss Receivables Funds of qardh Mudharabah financing Musyarakah financing Assets acquired for ijarah Other assets Increase/(decrease) in operating liabilities: Liabilities due immediately Wadiah deposits Deposits from other banks Taxes payable Other liabilities Increase in temporary syirkah funds Unrestricted investments Restricted investments Musyarakah investments Net cash provided by/(used in) operating activities
28
41
: ______________________________ : ______________________________ : ______________________________
2013
2012
5,424,025,496,255
4,555,558,490,180
(2,023,983,895,790) 1,188,093,525,622
(1,970,851,174,753) 1,138,747,549,267
134,444,863,415 (1,055,264,471,428) (32,042,000,000)
31,914,370,563 (998,792,507,307) (24,798,161,143)
(1,405,363,206,436) (342,792,854,901) (24,263,178,386) (614,916,321) 11,872,963,092
(1,305,989,136,396) (278,465,838,035) (36,595,658,010) (1,561,233,444) 2,371,011,858
25,000,000,000 (100,000,000,000)
CASH FLOWS FROM INVESTING ACTIVITIES Proceed from available-for sale-and measured at cost marketable securities Purchase of available-for-sale and held to maturity marketable securities Acquisition of fixed assets Proceeds from sales of fixed assets
12 12
Net cash provided by/(used in) investing activities
120,337,500,000 -
(24,312,450,150) (6,362,332,245,278) 586,257,738,634 377,142,149,777 (991,975,019,184) (76,087,600,326) (190,966,642,647)
5,346,605,000 (7,776,865,084,251) 330,292,261,266 397,379,837,426 (908,486,543,253) 3,609,014,373 143,781,379,343
(78,605,013,561) 1,782,900,652,908 (9,777,087,498) 8,601,745,793 72,510,020,393
55,878,882,220 2,236,574,027,196 (40,854,508,867) (2,976,108,557) 108,220,877,423
7,210,162,142,156 (27,935,961,262) 11,376,419,875
2,284,898,785,396 236,711,994,332 917,558,940
4,086,071,174,752
(1,693,695,809,233)
601,869,010,705
289,020,983,648
(200,000,000,000) (200,134,289,704) 1,617,545,759
(372,423,155,783) 4,183,479,735
203,352,266,760
(79,218,692,400)
The accompanying notes form an integral part of these financial statements.
9
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347
Annual Report 2013
INDEPENDENT AUDITOR’S REPORT These report is originally issued in the Indonesian language.
APPROVAL FOR PRINTING
PT BANK SYARIAH MANDIRI STATEMENTS OF CASH FLOWS (continued) Years ended December 31, 2013 and 2012 (Expressed in Rupiah, unless otherwise stated)
Notes CASH FLOWS FROM FINANCING ACTIVITIES Additional paid in capital Payment from financing received Payment from subordinated notes
25 19
DATE
: ______________________________
NAME
: ______________________________
POSITION
: ______________________________
SIGNATURE
: ______________________________
2013
2012 -
300,000,000,000 (150,000,000,000) (200,000,000,000)
-
(50,000,000,000)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
4,289,423,441,512
(1,822,914,501,633)
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR
6,949,950,494,227
8,772,864,995,860
11,239,373,935,739
6,949,950,494,227
3 4
1,444,785,308,390 3,238,728,466,932 687,470,635,401
1,108,282,646,315 2,242,455,643,662 271,289,459,714
3
5,818,389,525,016
3,182,922,744,536
5
50,000,000,000
145,000,000,000
11,239,373,935,739
6,949,950,494,227
Net cash provided by (used in) financing activities
CASH AND CASH EQUIVALENTS AT END OF THE YEAR Cash and cash equivalents at end of the year consist of: Cash Current accounts with Bank Indonesia Current accounts with other banks Placement with Bank Indonesia that will mature within 3 months from the date of acquisition Placement with other banks that will mature within 3 months from the date of acquisition Total
The accompanying notes form an integral part of these financial statements.
10
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APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language.
DATE
: ______________________________
NAME
: ______________________________
POSITION
: ______________________________
PT BANK SYARIAH MANDIRI SIGNATURE STATEMENTS OF RECONCILIATION OF INCOME AND REVENUE SHARING Years ended December 31, 2013 and 2012 (Expressed in Rupiah, unless otherwise stated)
Notes Main operating income (accrual) Deduction: Income during the year in which cash or cash equivalents ave not been received:
2a,2u,29
Murabahah margin income Income from marketable securities Mudharabah profit sharing income Musyarakah profit sharing income Income from amortization of differences between acquisition costs and nominal amounts for investments in marketable securities Ijarah income
7 13
4,684,793,297,347
211,075,579,212 31,571,994,888 25,645,145,406 51,538,883,612
194,667,901,692 42,494,275,455 -
2,230,993,378 67,609,739,857
2,376,562,321 136,307,696,686
389,672,336,353
375,846,436,154
7 7
194,667,901,692 136,307,696,686
132,460,608,275 62,451,306,841
13
-
3,292,041,667
13
42,494,275,455
46,054,713,737
2,376,562,321
2,352,958,467
375,846,436,154
246,611,628,987
5,424,025,496,255
4,555,558,490,180
3,343,083,770,430 2,080,941,725,825
2,641,991,997,436 1,913,566,492,744
2,023,983,895,790
1,876,221,722,896
56,957,830,035
37,344,769,848
7
Total addition Available operating income for profit sharing Profit sharing attributable to Bank Profit sharing attributable to depositors Profit sharing attributable to depositors is detailed on: Distributed profit sharing attributable to depositors Undistributed profit sharing attributable to depositors
2012
5,437,851,396,454
Total deduction Addition: Income from previous year in which cash have been received in current year: Receipt from receivable settlement: Murabahah margin Ijarah income Income from Bank Indonesia Syariah Certificate Income from government and corporate sukuk Income from amortization of differences between acquisition costs and nominal amounts for investments in marketable securities
2013
2a
15
The accompanying notes form an integral part of these financial statements.
11
PT Bank Syariah Mandiri
: ______________________________
349
Annual Report 2013
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These report is originally issued in the Indonesian language.
DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI POSITION STATEMENTS OF SOURCES AND USES OF ZAKAT FUNDS SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah, unless otherwise stated) Notes Sources of zakat funds
2013
: ______________________________ : ______________________________
2012
2a,2x,41
Zakat from Bank
22,662,472,354
28,131,606,226
439,795,827
2,869,078,669
7,954,395,076
6,280,860,321
31,056,663,257
37,281,545,216
Distributed through LAZNAS BSM
24,263,178,386
36,595,658,010
Total uses of zakat funds
24,263,178,386
36,595,658,010
535,219
632,899
6,794,020,090
686,520,105
Beginning balance of zakat funds
48,612,359,120
47,925,839,015
Ending balance of zakat funds
55,406,379,210
48,612,359,120
Zakat from customers and public Zakat from the Bank’s employees Total sources of zakat funds Uses of zakat funds
Foreign exchange gain - net Increase of zakat funds
The accompanying notes form an integral part of these financial statements.
12
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DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI POSITION : ______________________________ STATEMENTS OF SOURCES AND USES OF QARDHUL HASAN FUNDS SIGNATURE : ______________________________ Years ended December 31, 2013 and 2012 (Expressed in Rupiah, unless otherwise stated)
Notes Sources of qardhul hasan funds Penalties Hibah funds Non-halal revenue Other social funds
2a,14 42
2013
2012
27,300,018,406 191,243,336 607,935,204
830,667,606 8,472,541 453,611,371 481,628,334
28,099,196,946
1,774,379,852
Distributed through LAZNAS BSM
614,916,321
1,561,233,444
Total uses of qardhul hasan funds
614,916,321
1,561,233,444
87,404,667
62,641,788
27,571,685,292
275,788,196
3,437,661,500
3,161,873,304
31,009,346,792
3,437,661,500
2x
Total sources of qardhul hasan funds Uses of qardhul hasan funds
Foreign exchange income Increase in qardhul hasan funds Beginning balance of qardhul hasan funds Ending balance of qardhul hasan funds
The accompanying notes form an integral part of these financial statements.
13
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351
Annual Report 2013
INDEPENDENT AUDITOR’S REPORT These report is originally issued in the Indonesian language
APPROVAL FOR PRINTING DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI NOTES TO FINANCIAL STATEMENTS POSITION SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________
1. GENERAL a. Background PT Bank Syariah Mandiri (“the Bank”) was initially established under the name of PT Bank Industri Nasional, abbreviated as PT BINA or also known as PT National Industrial Banking Corporation Ltd., having its head office in Jakarta, based on notarial deed No. 115 dated June 15, 1955 of Meester Raden Soedja, S.H., Notary in Jakarta. The notarial deed was approved by the Minister of Law and Human Rights of the Republic of Indonesia (formerly known as the Minister of Law of the Republic of Indonesia) in his decision letter No. J.A.5/69/23 dated July 16, 1955, and registered in the South Jakarta District Court Office No. 1810 dated October 6, 1955 and published in the State Gazette No. 37 dated May 8, 1956 as Supplement No. 390. In accordance with the amendment of Articles of Association No. 12 dated April 6, 1967 which was amended with Articles of Association No. 37 dated October 4, 1967, both of which were made before Adlan Yulizar, S.H., Notary in Jakarta, and which have been published in the State Gazette No. 34 dated April 29, 1969 as Supplement No. 55, the Bank changed its name from PT Bank Industri Nasional, abbreviated as PT BINA or also known as PT National Industrial Banking Corporation Ltd. into PT Bank Maritim Indonesia. In accordance with the Minutes of Meeting No. 146 dated August 10, 1973, which was notarized under notarial deed No. 146 of Raden Soeratman, S.H., Notary in Jakarta, which has been published in the State Gazette No. 79 dated October 1, 1974, as Supplement No. 554, the Bank's name was changed from PT Bank Maritim Indonesia into PT Bank Susila Bakti. In accordance with Notarial Deed of Decision of Meeting No. 29 dated May 19, 1999 of Machrani Moertolo Soenarto, S.H., Notary in Jakarta, which was approved by the Minister of Law of the Republic of Indonesia in his decision letter No. C2-1210.HT.01.04.TH 99 dated July 1, 1999 and was published in the State Gazette No. 87 dated October 31, 2000 as Supplement No. 6587, the Bank changed its name from PT Bank Susila Bakti into PT Bank Syariah Sakinah Mandiri. In accordance with Notarial Deed of Decision of Meeting No. 7 dated July 7, 1999 of Machrani Moertolo Soenarto, S.H., Notary in Jakarta, which was revised with notarial deed of minutes of meeting No. 6 dated July 22, 1999 and notarial deed of minutes of meeting No. 9 dated July 23, 1999, both of which were made before Hasanal Yani Ali Amin, S.H., Notary in Jakarta, and Notarial Deed of Decision of Meeting of changes in Articles of Association No. 23 dated September 8, 1999 of Sutjipto, S.H., Notary in Jakarta, which was approved by the Minister of Law of the Republic of Indonesia in his decision letter No. 16495.HT.01.04.TH.99 dated September 16, 1999 and was published in the State Gazette No. 87 dated October 31, 2000 as Supplement No. 6588, the Bank changed its name from PT Bank Syariah Sakinah Mandiri into PT Bank Syariah Mandiri. The Bank was granted a license from Bank Indonesia, based on the Governor of Bank Indonesia's decision letter No. 1/24/KEP.GBI/1999 dated October 25, 1999, as a commercial bank under Islamic principles and commenced its operation on November 1, 1999. In accordance with Notarial Deed of Decision of Meeting No. 38 dated March 10, 2000 of Lia Muliani, S.H., Notary in Jakarta, in lieu of Sutjipto, S.H., Notary in Jakarta, the Bank changed the amount of its capital stock, of which change was approved by the Minister of Law and Human Rights of the Republic of Indonesia in his decision letter No. C-11545.HT.01.04.TH.2000 dated June 6, 2000 and was published in the State Gazette No. 87 dated October 31, 2000 as Supplement No. 6589.
14
Annual Report 2013
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APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language
DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI NOTES TO FINANCIAL STATEMENTS POSITION SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________
1. GENERAL (continued) a. Background (continued) In 2006, the amendment to the articles of association as stated in the Notarial Deed of Decision of Meeting of PT Bank Syariah Mandiri No. 59 dated May 17, 2006 of Imas Fatimah, S.H., Notary in Jakarta, has been published in the State Gazette No. 74 dated September 15, 2006 as Supplement No. 960. The Bank has changed and amended its articles of association to comply with the Law No. 40 year 2007 regarding Limited Liability Company as stated in Notarial Deed No. 10 dated June 19, 2008, of Badarusyamsi, S.H., Notary in Jakarta. The amendment was approved by the Minister of Laws and Human Rights of the Republic of Indonesia through his Letter No. AHU-729922.01.02 year 2008, dated October 13, 2008. In accordance with the Shareholders’ Extraordinary Meeting held on December 31, 2008, the shareholders approved to increase the Bank shares capital amounting to Rp199,871,000,000 or 39,974,200 shares which will be issued from share portfolio. All of the shares were taken by PT Bank Mandiri (Persero) Tbk. The payments of shares were as follows: a. The amount of Rp100,000,000,000 was fully paid-up in cash. b. The amount of Rp99,871,000,000 was fully paid-up using non-cash (inbreng) in the form of land and building owned by PT Bank Mandiri (Persero) Tbk. The non-cash capital contribution (inbreng) amounting to Rp99,871,000,000 was fully paid on December 31, 2008 and cash capital contribution amounting to Rp100,000,000,000 was fully paid on January 5, 2009. Those capital contributions were stipulated in the Notarial Deed No. 211 dated December 31, 2008 by Aulia Taufani, S.H. as a Notary in Lieu of Sutjipto, S.H., Notary in Jakarta, which notice has been received and recorded in the database of Legal Administration System (Sisminbakum) Department of Laws and Human Rights of the Republic of Indonesia on February 23, 2009 No. AHU-AH.01.01-00922 regarding receipt of Notice of the Amendment of Articles of Association of PT Bank Syariah Mandiri. The Bank has changed its article of association with the Shareholders’ Extraordinary Meeting PT Bank Syariah Mandiri No. 28 dated June 25, 2009 of Harun Kamil, S.H., in Jakarta, which has been published in the State Gazette No. 85 dated October 25, 2011 as supplement No.131/L; The Bank has changed its article of association consecutively with the Shareholders’ Extraordinary Meeting PT Bank Syariah Mandiri No. 16 dated June 29, 2010 of Harun Kamil, S.H., in Jakarta, the Decision Taken Out of Shareholders’ Meeting PT Bank Syariah Mandiri No. 19 dated March 21, 2011 of Badarusyamsi, S.H., MKn in Jakarta, which was approved by the Minister of Law of the Republic of Indonesia in his decision letter No. AHU-22426.AH.01.02.TH 2011 dated May 4, 2011, and the latest Amendment of article of Shareholders of PT Bank Syariah Mandiri No.38 dated December 28, 2012 of Efran Yuniarto, SH, M.Kn., in Jakarta, which have received acceptance noticed from the Minister of Law of the Republic Indonesia No.AHU-AH.01.10-00527 dated January 3, 2013. In accordance with the Shareholders’ Extraordinary Meeting decision held on December 27, 2013 and stated in the Deed No. 20 dated January 22, 2014 of Chairul Bachtiar, S.H., in Jakarta the shareholders approved to increase the Bank shares capital by inbreng amounting to Rp30,778,370,000 or 6,155,674 shares which will be issued from share portfolio. All of the shares were taken by PT Bank Mandiri (Persero) Tbk.
15
PT Bank Syariah Mandiri
353
Annual Report 2013
INDEPENDENT AUDITOR’S REPORT These report is originally issued in the Indonesian language
APPROVAL FOR PRINTING DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI NOTES TO FINANCIAL STATEMENTS POSITION SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________
1. GENERAL (continued) a. Background (continued) The Bank's head office is located at Jalan M.H. Thamrin No. 5 Jakarta 10340. As of December 31, 2013, the Bank has 136 branches, 509 sub branches, 58 cash offices, 144 payment points, and 6 syariah service offices (unaudited). Based on the Notarial Deed of Decision of the meeting of PT Bank Syariah Mandiri No. 19 dated June 28, 2011 of Badarusyamsi, S.H., M.Kn., Notary in Jakarta, the composition of the Syariah th Supervisory Board as of June 28, 2011 until the closing of the 5 (fifth) year of General Shareholders Meeting effective from their appointment is as follows: 2013
2012
Prof. Dr. Komaruddin Hidayat.,MA. Drs. Mohamad Hidayat, MBA., MH. Dr. M. Syafii Antonio, M.Ec.
Prof. Dr. Komaruddin Hidayat.,MA. Drs. Mohamad Hidayat, MBA., MH. Dr. M. Syafii Antonio, M.Ec.
The Syariah Supervisory board Chairman: Member: Member:
According to Bank Indonesia Regulation (PBI) No. 11/3/PBI/2009 dated January 29, 2009 regarding Commercial Banks based on Syariah Principle, the Syariah Supervisory Board (SSB) is responsible to provide advice and suggestions to the Board of Directors and overseeing the activities of the Bank to comply with syariah principles. Based on PT Bank Syariah Mandiri Annual General Meeting of Shareholders’ on May 29, 2013 which minutes of meeting were notarized under the Deed No. 24 dated May 29, 2013 of Badarusyamsi, S.H., M.Kn., and the Notarial Deed of Shareholders’ Annual General Meeting of Shareholders’ No. 14 dated June 20, 2013 of Badarusyamsi, S.H., M.Kn., the compositions of the Bank’s management as of December 31, 2013 and 2012 are as follows: 2013
2012
Board of Commissioners Head of Commissioner Concurrently Independent Commissioner: Independent Commissioner: Independent Commissioner: Commissioner: Commissioner:
Achmad Marzuki Ramzi A. Zuhdi Bambang Widianto *) Sulaeman Agus Fuad
Achmad Marzuki Abdillah Ramzi A. Zuhdi Tardi Lilis Kurniasih
Board of Directors Head of Director: Director: Director: Director: Director: Director:
Yuslam Fauzi Hanawijaya Amran P. Nasution Zainal Fanani Sugiharto Achmad Syamsudin
Yuslam Fauzi Hanawijaya Amran P. Nasution Zainal Fanani Sugiharto Achmad Syamsudin
*) Effective upon approved by Bank Indonesia
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Annual Report 2013
354
PT Bank Syariah Mandiri
These report is originally issued in the Indonesian language
APPROVAL FOR PRINTING DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI NOTES TO FINANCIAL STATEMENTS POSITION SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________
1. GENERAL (continued) a. Background (continued) The composition of the audit committee, risk monitoring committee and remuneration and nomination committee as of December 31, 2013 and 2012 are as follows: 2013
2012
Audit Committee Chairman: Member: Member: Member: Member:
Ramzi A. Zuhdi Agus Fuad Bambang Widianto *) Tjeppy Kustiwa Ferry Firmansyah
Abdillah Ramzi A. Zuhdi Tjeppy Kustiwa Ferry Firmansyah
Risk Monitoring Committee Chairman: Member: Member: Member: Member:
Ramzi A. Zuhdi Sulaeman Bambang Widianto *) Edyanto Rachman Ateng Suhaeni
Ramzi A. Zuhdi Abdillah Lilis Kurniasih Edyanto Rachman Ateng Suhaeni
Remuneration and Nominationi Committee Chairman: Achmad Marzuki Member: Ramzi A. Zuhdi Member: Agus Fuad Member: Achmad Fauzi Member: Eka Bramantya Danuwirana Member: Taufik Machrus
Achmad Marzuki Abdillah Tardi Achmad Fauzi Eka Bramantya Danuwirana
*) Effective upon approved by Bank Indonesia
Salaries and other compensation paid to the Board of Directors, Board of Commissioners and Syariah Supervisory Board as of December 31, 2013 and 2012 are as follows: 2013
2012
Board of Directors Board of Commissioners Syariah Supervisory Board
35,956,742,381 10,813,082,142 907,803,050
30,885,232,387 9,073,392,648 1,106,606,335
Total
47,677,627,573
41,065,231,370
As of December 31, 2013 and 2012, the Bank has 9,513 and 9,331 employees (unaudited), respectively.
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PT Bank Syariah Mandiri
355
Annual Report 2013
INDEPENDENT AUDITOR’S REPORT These report is originally issued in the Indonesian language
APPROVAL FOR PRINTING DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI NOTES TO FINANCIAL STATEMENTS POSITION SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________
2. SUMMARY OF ACCOUNTING POLICIES a. Basis of Preparation of Financial Statements Statement of Compliance The financial statements have been prepared in conformity with Indonesian Financial Accounting Standards which include the Statement of Financial Accounting Standards ("SFAS") No. 101 (Revised 2011), “Presentation of Syariah Financial Statements”, SFAS No. 102, “Murabahah Accounting”, SFAS No. 104, “Istishna Accounting”, SFAS No. 105, “Mudharabah Accounting”, SFAS No. 106, “Musyarakah Accounting”, SFAS No. 107, “Ijarah Accounting”, SFAS No. 110 “Sukuk Accounting”, and the Accounting Guidelines for Indonesian Syariah Banking (PAPSI). The financial statements were prepared on the accrual basis using the historical cost concept except for certain exceptions as follows: 1) Certain marketable securities are stated at fair values (Note 2g); 2) Foreclosed assets in relation with the financing repayment are stated at net realizable values (Note 2c); 3) Calculation of income available for profit sharing which are using cash basis (Note 2w); and 4) Fees from certain services (ujrah) and administration fee for financing which are recognized using cash basis (Notes 2j and 2y). Based on SFAS No. 101 (Revised 2011), the syariah bank financial statements should include the following: (i) (ii) (iii) (iv) (v) (vi) (vii) (viii)
Statements of financial position; Statements of comprehensive income; Statements of changes in shareholders' equity; Statements of cash flows; Statements of reconciliation of income and profit sharing; Statements of sources and uses of zakat funds; Statements of sources and uses of qardhul hasan funds; and Notes to financial statements.
Statement of financial position, statements of comprehensive income, cash flows, and changes in shareholders' equity are financial statements reflecting the Bank's commercial activities in accordance with syariah principle. The statements of cash flows were prepared based on the direct method with cash flows classified into cash flows from operating, investing and financing activities, except for some cash flows in operating activities and funding have been prepared using the indirect. For the purpose of the statements of cash flows, cash and cash equivalents include cash, current accounts with Bank Indonesia and other banks, placements with Bank Indonesia and other banks maturing within 3 (three) months from the date of acquisition.
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Annual Report 2013
356
PT Bank Syariah Mandiri
APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language
DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI NOTES TO FINANCIAL STATEMENTS POSITION SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________
2. SUMMARY OF ACCOUNTING POLICIES (continued) a. Basis of Preparation of Financial Statements (continued) Statement of Compliance (continued) Statements of reconciliation of income and profit sharing represent reconciliation between the Bank’s revenue on accrual basis and revenue distributed as profit sharing to depositors on a cash basis. Statements of sources and uses of zakat and qardhul hasan funds represent statement of the Bank’s role as responsibility taker of social funds which is managed separately from the Bank. Statements of sources and uses of zakat represent a statement showing the sources and the uses of zakat funds in a certain period and the undistributed funds on specific dates. Statements of sources and uses of qardhul hasan funds represents statement of the sources and uses of qardhul hasan funds during certain period of time and balance of qardhul hasan on specific dates. Restricted investment represents investment that arised from investor and alike which managed by the Bank as investment agent based on mudharabah muqayyadah contract. Restricted investment is neither classified as asset nor liability since Bank has no rights to use or distribute the investment funds and Bank also has no obligation to either repay or bear any investment risk. Bank will receive income in the form of investment fee. Remaining undistributed funds will be recorded as liabilities due immediately. Mudharabah muqayyadah agreement is an activity of shahibul maal to provide fund for investment or working capital to Mudharib for conducting business activities in accordance with the agreement. The sharing of profits is determined based on agreement. Zakat is some of the wealth that must be taken out by muzakki (the zakat payer) to be given to mustahiq (the zakat receiver). The sources of zakat, infaq, shadaqah funds are from Bank and other parties to be distributed to parties eligible in accordance with syariah principle. The Bank does not directly manage the operation of zakat, infaq and shadaqah funds, and qardhul hasan funds. b. Transactions with Related Parties In the normal course of business, the Bank entered into transactions with parties which are defined as related parties in accordance with the SFAS No. 7 (Revised 2010) regarding “Related Party Disclosures”. The nature of transactions and balances of accounts with related parties, whether or not transacted on normal terms and conditions similar to those with third parties, are disclosed in the notes to financial statements. Based on SFAS No. 7 (Revised 2010) “Related Party Disclosures”, transactions between the Bank and the State Owned Enterprises/Regional government owned enterprises; other entities and institutions associated with the Government of the Republic of Indonesia, the Board of Commissioners, Directors, and key employees are considered as transactions with related parties.
19
PT Bank Syariah Mandiri
357
Annual Report 2013
INDEPENDENT AUDITOR’S REPORT These report is originally issued in the Indonesian language
APPROVAL FOR PRINTING DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI NOTES TO FINANCIAL STATEMENTS POSITION SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________
2. SUMMARY OF ACCOUNTING POLICIES c. Allowance for Possible Losses on Earning Assets, Non-earning Assets and Estimated Losses on Commitment and Contingencies 1) Earning assets consist of current account and placements with Bank Indonesia in the form of Bank Indonesia Syariah Certificate (SBIS), Bank Indonesia Syariah Deposit Facility (FASBIS), Reverse Repo SBSN BI, current accounts with other banks, placement with other banks, investment in marketable securities, receivables, funds of qardh, musyarakah financing, mudharabah financing, ijarah assets, and commitments and contingencies with credit risk, such as bank guarantees, irrevocable letters of credit and standby letters of credit. Allowance for possible losses of earning assets and non-earning assets for commercial bank conducting business based on syariah principles is regulated in Bank Indonesia Regulation (PBI) No. 8/21/PBI/2006 dated October 5, 2006 regarding The Quality Rating of Assets of Commercial Banks Conducting Business Based on Syariah Principles, which has been ammended with PBI No. 9/9/PBI/2007 dated June 18, 2007, PBI No.10/24/PBI/2008 dated October 16, 2008 and the latest amendment PBI No.13/13/PBI/2011 dated March 24, 2011. The guidelines in determining the allowance for possible losses on earning assets based on the aforementioned Bank Indonesia Regulation are as follows: a) General reserve shall be no less than 1% of total earning assets classified as current, excluding Bank Indonesia Syariah Certificates and securities issued by the Government based on syariah principles, and part of earning assets guaranteed by government bonds and cash collateral in the form of demand deposits, saving deposits, time deposits, guarantee deposits, and/or gold which are pledged accompanied with the power of attorney to liquidate. b) Special reserve shall be at least: (1) (2) (3) (4)
5% of earning assets classified as Special Mention after deducted by collateral value; 15% of earning assets classified as Substandard after deducted by collateral value; 50% of earning assets classified as Doubtful after deducted by collateral value; 100% of earning assets classified as Loss after deducted by collateral value.
c) The requirement to establish allowance for possible losses shall not be applicable for earning assets under leasing transactions in the form of ijarah or leasing transaction with transfer of ownership of leasing object in the form of ijarah muntahiyah bittamlik. The Bank is required to establish depreciation/amortization for the assets of ijarah muntahiyah bittamlik (Note 2k). For marketable securities and placements with other banks, the quality rating is classified into 3 (three) classification: current, substandard, and loss. Quality rating of equity investment is determined into 4 (four) categories: current, substandard, doubtful, and loss. Allowance for possible losses on commitments and contingent liabilities are recorded under "Estimated Losses on Commitments and Contingencies". If management believes that certain earning assets are not recoverable then those assets should be written off by deducting the balance of earning assets from their respective allowances. Recoveries of earning assets that have been written off are recorded as additional allowance for possible losses in the current year.
20
Annual Report 2013
358
PT Bank Syariah Mandiri
These report is originally issued in the Indonesian language
APPROVAL FOR PRINTING DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI NOTES TO FINANCIAL STATEMENTS POSITION SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________
2. SUMMARY OF ACCOUNTING POLICIES (continued) c. Allowance for Possible Losses on Earning Assets, Non-earning Assets and Estimated Losses on Commitments and Contingencies (continued) 2) Non-earning assets represent the Bank’s assets other than earning assets which have potential loss such as foreclosed assets, abandoned properties, inter-branches account, and suspense account. Foreclosed asset is an asset acquired through auction or over the counter based on voluntary submission by collateral owner or based on the power of attorney to sell over the counter from collateral owner in the event of customer’s failure in meeting his liabilities to the Bank. The Bank is required to settle its foreclosed assets and prepare documentation of its effort to settle the assets. The Bank is required to re-evaluate the foreclosed assets to determine net realizable value: a) at the time the asset is foreclosed, and b) in the succeeding period after the acquisition of foreclosed asset. The determination of net realizable value is required to be carried out by an independent appraiser for foreclosed assets in the amount equivalent or more than Rp5,000,000,000 (five billion Rupiah). Internal appraiser of the Bank may be used for asset below Rp5,000,000,000 (five billion Rupiah). The Bank is required to use the lowest price if there are several values proposed by the independent or internal appraiser. The quality of foreclosed assets which in settlement process is determined as follows: a) Current, if acquired within 1 (one) year; b) Loss, if acquired more than 1 (one) year. Foreclosed assets related to settlement of financing (presented as other asset) are recognized based on net realizable value. Net realizable value is the fair value less estimated cost of disposal. The difference between the net realizable value and the balance of uncollectible receivables or financing is recognized as addition or deduction of allowance for possible losses on receivables or financing. Inter-branches account is the claim arising from inter-branch transactions that are unsettled after a certain period of time. Suspense account is an account containing unidentified transactions or transactions which are unable to be classified to the proper account due to the lack of adequate supporting documents. The Bank is required to settle its inter-branch account and suspense account. The quality of inter branch account and suspense account are determined as: (1) Current, the transaction has been recorded in the Bank’s book up to 180 (one hundred and eighty) days. (2) Loss, the transaction has been recorded in the Bank’s book over 180 (one hundred and eighty) days.
21
PT Bank Syariah Mandiri
359
Annual Report 2013
INDEPENDENT AUDITOR’S REPORT These report is originally issued in the Indonesian language
APPROVAL FOR PRINTING DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI NOTES TO FINANCIAL STATEMENTS POSITION SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________
2. SUMMARY OF ACCOUNTING POLICIES (continued) d. Placements with Bank Indonesia Placements with Bank Indonesia consist of Wadiah current accounts with Bank Indonesia, Bank Indonesia Syariah Deposit Facility (FASBIS), Reverse Repo SBSN Bank Indonesia, and Certificates of Bank Indonesia Syariah as proof of short-term fund deposits based on jualah principles. e. Current Account with Other Banks Current accounts with other banks are stated at their outstanding balance net of allowance for possible losses. Bonuses received from Commercial Banks based on syariah principles are recognized as other operating income. Interest on current accounts placed with non-syariah banks are not recognized as the Bank's income but are recorded as part of the qardhul hasan funds. The interest from current accounts with non-syariah banks will be recorded as the Bank’s liabilities before distributed to the fund. f.
Placements with Other Banks Placements with other banks represent placements in the form of wadiah, mudharabah time deposits and mudharabah saving deposits, other financing and other placements based on syariah principles in other syariah banks and/or rural syariah banks. Placements with other banks are stated at their outstanding balance net of allowance for possible losses.
g. Investment in Marketable Securities Syariah marketable securities is a proof of investment under the syariah principles commonly traded in syariah money market and/or syariah stock exchange, such as syariah bonds, syariah mutual funds certificates and other securities based on syariah principles. Since January 1, 2012, investment in marketable securities, except for mutual funds, are classified based on business model defined by the Bank in accordance with SFAS No. 110 on “Accounting for Sukuk” as follows: 1) At cost model is adopted the purpose of holding the securities is to acquire contractual cash flow and there is contractual requirements that specify a certain date of principal and margin payments. At cost securities are stated at cost (including transaction costs), adjusted by unamortized premium and/or discount. Premium and discount are amortized over the period until maturity. 2) Fair value model is where the Sukuk are valued using market prices. Upon initial recognition, transaction cost are recorded in current statement of comprehensive income. Book value as of January 1, 2012 for securities which were issued before January 1, 2012, is initial cost value of the securities, when SFAS 110 is adopted on the securities. Investment in syariah mutual funds are stated at market value based on net asset value of mutual funds on statement of financial position dates. Export bills are a transaction that occurs due to advance payments to other parties in connection with exports and import transactions of customers. Exports bills are stated at their outstanding balance. Allowance for possible losses is stated as deduction of marketable securities accounts. 22
Annual Report 2013
360
PT Bank Syariah Mandiri
These report is originally issued in the Indonesian language
APPROVAL FOR PRINTING DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI NOTES TO FINANCIAL STATEMENTS POSITION SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________
2. SUMMARY OF ACCOUNTING POLICIES (continued) h. Receivables Receivables represent claims arising based on murabahah agreement, istishna agreement and/or ijarah agreement. Murabahah agreement is an agreement for financing such goods by confirming purchase price to a buyer and the buyer pays it with a higher price as an agreed profit. Murabahah receivables are stated at the balance of the receivable less deferred margin and allowance for possible losses. The Bank provides allowance for possible losses based on the review of the quality of individual murabahah receivable balance. Istishna agreement is an agreement to finance such goods in the form of manufacturing the ordered goods with the agreed criteria and specification by both of orderer or buyer (Mustashni') and manufacturer or seller (Shani’). Istishna receivables are presented based on the outstanding billings less allowance for possible losses. The Bank provides allowance for possible losses on istishna receivables based on the review of the quality of individual istishna receivable balance. Ijarah agreement is an agreement on the availability of fund in relation to transferring the right to use and benefit of a good or service based on rental transaction which was not followed by transfer of the goods ownership to the lessee. Ijarah muntahiyah bittamlik agreement is an agreement on the availability of fund in relation to transferring the use right and benefit of a good or service based on rental transaction with an option to transfer the ownership title of goods to the lessee. The title of the lease object in ijarah muntahiyah bittamlik can be transferred to the lessee through: (i) a grant; (ii) sale prior to the end of the contract for an amount equivalent to the remaining lease installments; (iii) sale prior to the end of the contract at a specified amount as agreed at the inception of the contract; and (iv) installment sales at a specific price as agreed in the contract. Ijarah receivable is recognized at due date at the amount of lease income not yet received and presented at its net realizable value, which is the outstanding balance of the receivable. i.
Financing Financing is entered into using mudharabah and musyarakah agreement. Mudharabah agreement is a co-operation agreement for certain project between first party (malik, shahibul mal, or syariah bank) as owner of fund and second party (amil, mudharib, or debtors) as fund manager whereas the profit sharing will be shared in accordance with percentage as stated in the agreement, meanwhile losses will be borne by syariah bank except if the second party does negligence, misconduct or violate the agreement.
23
PT Bank Syariah Mandiri
361
Annual Report 2013
INDEPENDENT AUDITOR’S REPORT These report is originally issued in the Indonesian language
APPROVAL FOR PRINTING DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI NOTES TO FINANCIAL STATEMENTS POSITION SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________
2. SUMMARY OF ACCOUNTING POLICIES (continued) i.
Financing (continued) Mudharabah financing is stated at the outstanding financing balance less allowance for possible losses. Allowance for possible losses is provided based on the review of the quality of individual mudharabah financing. In the event that a portion of mudharabah financing is impaired prior to the start up of operations owing to damage or any other reason, without course to negligence or error on the part of the fund manager, the said loss shall reduce the mudharabah financing balance and shall be recognized as a loss by the Bank. In the event that a portion of financing is loss, impair or damage after the commencement of operations for reasons unrelated to negligence or error on the part of the fund manager, the loss shall be distributed between parties upon the determination of profit or revenue sharing between the Bank and the fund manager. Loss on financing for reasons related to negligence or error on the part of the fund manager shall be charged to the fund manager and shall not reduce the mudharabah financing balance. Musyarakah agreement is a cooperation agreement between two or more parties in a certain business wherein each party provides a portion of fund on condition that the profit shall be shared in accordance with the percentage as stated in the agreement, whereas losses shall be borne in accordance with the portion of the fund of each party. Permanent musyarakah is musyarakah in which the fund portion of each partner is stated explicitly in the contract and remains the same until the contract expires. Declining musyarakah (musyarakah mutanaqisha) is musyarakah in which the fund portion of the Bank will be transferred in several stage to the other partner, resulting in the declining of fund portion of the Bank and, at the end of contract, the other partner will become the sole owner of the business. Musyarakah financing is stated at the outstanding financing balance less allowance for possible losses. The Bank provides allowance for possible losses based on the review of the quality of individual musyarakah financing.
j.
Funds of Qardh Funds of qardh represent a distribution of funds with qardh agreement. Qardh agreement is a borrowing agreement with borrower at the condition that the borrower should repay the loan at specified period of time. Qardh receivables included hawalah and rahn financing agreement. Hawalah is transfer of debts from debtors to other party (Bank) which obligate to shouldered or paid. The Bank will obtain a fee (ujrah) from this transaction, which is recognized upon receipt. Rahn represents the mortgage of goods or assets owned by the customer for an equivalent amount of money. Assets or goods mortgaged are appraised based on market value, less a certain deduction percentage. The Bank will obtain a fee (ujrah), which is recognized upon receipt. Qardh receivables are recognized at the amount lent at the transaction date. Any excess amount paid by the borrower in repaying a qardh is recognized as revenue upon realization. Qardh receivables are stated at its outstanding balance less allowance for possible losses. The Bank provides allowance for possible losses on qardh based on the review quality of the individual outstanding balances. 24
Annual Report 2013
362
PT Bank Syariah Mandiri
These report is originally issued in the Indonesian language
APPROVAL FOR PRINTING DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI NOTES TO FINANCIAL STATEMENTS POSITION SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________
2. SUMMARY OF ACCOUNTING POLICIES (continued) k. Assets Acquired for Ijarah Assets acquired for ijarah represent assets that are objects of lease transactions (ijarah) and are recognized at the acquisition cost. The assets in an ijarah transaction are depreciated based on the depreciation policy for similar assets, while in an ijarah muntahiyah bittamlik transactions, the asset for lease is depreciated over the lease period. Assets acquired for ijarah are presented at the acquisition cost less accumulated depreciation and amortization. l.
Istishna Assets in Progress Istishna assets in progress are istishna assets which are still in process of production. If the completion of payment is done simultaneously with the process of producing istishna asset, then: 1) Deferred expense that is paid prior to the contract is recognized as istishna assets in progress when the contract is signed. 2) Istishna expense is recognized as istishna assets in progress when it is completed. 3) Parallel istishna expense is recognized as istishna assets in progress when the invoice is received from sub-contractor for the amount of the bill.
m. Fixed Assets Fixed assets are stated at cost less accumulated depreciation. Fixed assets are depreciated from the month of the usage of assets and computed using the straight-line method based on the estimated useful life of the assets as follows: Years Buildings Installations, office equipments, and motor vehicles
20 5
Land is stated at cost and not depreciated. The cost of repairs and maintenance is charged to operations as incurred, significant renewals and betterments are capitalized. When assets are retired or otherwise disposed of, their cost and the related accumulated depreciation are removed from the accounts and any resulting gain or loss is credited or charged to current year statement of comprehensive income. The carrying value of fixed assets is derecognized upon disposal or when no future economic benefits expected from the use or disposal. Gains or losses arising from derecognition of the asset (calculated as the difference of the net proceeds from disposal and the carrying amount of the assets) is included in the statements of comprehensive income in the year the asset is derecognized. The recoverable value of an asset is estimated when events or changes in circumstances indicate that the carrying value may not be fully recoverable. Asset impairment, if any, is recognized as a loss in the current year statement of comprehensive income.
25
PT Bank Syariah Mandiri
363
Annual Report 2013
INDEPENDENT AUDITOR’S REPORT These report is originally issued in the Indonesian language
APPROVAL FOR PRINTING DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI NOTES TO FINANCIAL STATEMENTS POSITION SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________
2. SUMMARY OF ACCOUNTING POLICIES (continued) n. Prepaid Expenses Prepaid expenses (presented under "Other Assets" account) are amortized over their expected useful periods using the straight-line method. o. Liabilities due Immediately Liabilities due immediately represent obligations to third parties, based on a contract or an order by those having authority, which have to be settled immediately. Liabilities due immediately are stated at the amount of the Bank's liability. p. Wadiah Deposits Wadiah deposits represent other parties' funds in the form of wadiah demand deposits and wadiah saving deposits. Wadiah demand deposits can be used as payment instruments, and are available for withdrawal at any time through check and demand deposit slip (“bilyet giro”). Wadiah demand deposits and wadiah saving deposits may earn bonus based on the Bank's policy. Wadiah demand deposits and wadiah saving deposits are stated at the amount payable to depositors. q. Deposits from Other Banks Deposits from other banks represent liabilities to other banks in the form of wadiah demand deposits, wadiah saving deposits, and Interbank mudharabah Investment Certificate (SIMA). Deposits from other banks are stated at the amounts payable to other banks. r.
Financing Received Financing received are funds received from other entity with obligation to repay in accordance to requirements on agreement. Financing received is stated at their nominal value at the time of agreement is being signed.
s. Subordinated Notes Issued Subordinated notes issued are stated at their nominal value. Issuance costs of the notes are amortized using straight line method during the period of the notes. t.
Temporary Syirkah Funds Temporary syirkah funds represent investment received by the Bank. The Bank has the right to manage and invest funds in accordance with either the Bank’s policy or restriction set by the depositors’ with the agreed profit sharing.
26
Annual Report 2013
364
PT Bank Syariah Mandiri
APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language
DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI NOTES TO FINANCIAL STATEMENTS POSITION SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________
2. SUMMARY OF ACCOUNTING POLICIES (continued) t.
Temporary Syirkah Funds (continued) Relationship between the Bank and the owner of temporary syirkah funds are based on partnership mudharabah muthlaqah, mudharabah muqayyadah or musyarakah. The example of temporary syirkah funds are investment funds received from mudharabah muthlaqah, mudharabah muqayyadah, mudharabah musytarakah and other similar accounts. 1) Mudharabah muthlaqah represents mudharabah in which the fund owner (shahibul maal) entrusts to fund manager (mudharib/Bank) in managing its investment. 2) Mudharabah muqayyadah represents mudharabah in which the fund owner sets restrictions against fund manager regarding, among others, the place, the means and/or the object of investment. 3) Mudharabah musytarakah represents mudharabah in which fund manager also submits its capital or fund in the investment. Temporary syirkah fund can not be classified as liability. This is due to the Bank does not have any liability to return the fund to the owners, except for losses due to the Bank’s management negligence or misrepresentation. On the other hand, temporary syirkah fund also can not be classified as equity, because of the existence of maturity period and the depositors do not has the same rights as the shareholder’s such as voting rights and the rights of realized gain from current assets and other non-investment accounts. Temporary syirkah funds represent one of the statements of financial position accounts which is in accordance with syariah principle provide right to the Bank to manage and invest fund, including to mixing of one funds with the other funds. The owner of temporary syirkah funds receive parts of profit in accordance with the agreement and receive loss based on proportion to the total funds. The profit distribution of temporary syirkah funds might be based on profit sharing or revenue sharing concept.
u. Income from Fund Management by the Bank as Mudharib Income from fund management by the Bank as mudharib consists of income from murabahah and istishna transactions, income from ijarah (leasing), income from profit sharing of mudharabah, and musyarakah financing and other main operating income. Murabahah income by deferred payment or by installment is recognized during the period of the contract based on effective method (annuity). Income from istishna is recognized using the percentage of completion or full completion method. Income from ijarah is recognized proportionally during the contract period. Profit sharing for passive partner in musyarakah is recognized in the period when the right arises in accordance with the agreed sharing ratio. Profit sharing income from mudharabah is recognized in the period when the right arises in accordance with agreed sharing ratio and the recognition based on projection of income is not allowed. Repayment from debtors classified as non-performing was treated as repayment of acquisition cost or principal of receivable/financing. Payment in excess of the acquisition cost or principal of receivable/financing will be recognized as income when it received. However for ijarah transaction, repayment from customers is treated as repayment of rent receivable. 27
PT Bank Syariah Mandiri
365
Annual Report 2013
INDEPENDENT AUDITOR’S REPORT These report is originally issued in the Indonesian language
APPROVAL FOR PRINTING DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI NOTES TO FINANCIAL STATEMENTS POSITION SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________
2. SUMMARY OF ACCOUNTING POLICIES (continued) v. Other Main Operating Income Other main operating income consists of income derived from Bank Indonesia Syariah Certificates, placements with other syariah banks and profit sharing from syariah securities. Other main operating income is recognized on an accrual basis. w. Third Parties’ Share on Return of Temporary Syirkah Funds Third parties’ share on the return of temporary syirkah funds represent fund owners’ share of the profit of the Bank derived from managing of such funds under mudharabah mutlaqah, mudharabah muqayyadah and mudharabah musytarakah principles. The profit sharing is determined on a cash basis. Distribution of profit sharing is based on profit sharing principle which is calculated from the Bank’s gross profit margin. Margin income and profit sharing on financing facilities and other earning assets are distributed to fund owners and the Bank based on proportion of fund used in the financing and other earning assets. Margin income and profit sharing income allocated to the fund owners are then distributed to fund owners as shahibul maal and the Bank as mudharib based on a predetermined ratio. Margin income and profit sharing from financing facilities and other earning assets using the Bank's funds, are entirely shared for the Bank, including income from the Bank's fee-based transactions. x. Sources and Uses of Zakat and Qardhul Hasan Funds The management of sources and uses of zakat and qardhul hasan funds is delegated to LAZNAS BSM. Penalties/sanctions were charged to debtors who are able to pay, but deliberately delay payments, in the amount that are agreed and not determined on the contract. The funds from penalties/sanctions will be used for charity funds/qardhul hasan funds. y. Fee Based Income from Banking Services Fee based income from banking services are generally recognized when cash is received, except for the unamortized premium/discount which is recognized on an accrual basis. z.
Provision for Employee Benefits Employee benefits related to past retirement benefits and long term benefits are recognized during the working period of the employees in accordance with Labor Law No. 13 Year 2003 dated March 25, 2003 (Law No. 13/2003) or the Bank’s regulation whichever benefit is higher.
28
Annual Report 2013
366
PT Bank Syariah Mandiri
These report is originally issued in the Indonesian language
APPROVAL FOR PRINTING DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI NOTES TO FINANCIAL STATEMENTS POSITION SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________
2. SUMMARY OF ACCOUNTING POLICIES (continued) z. Provision for Employee Benefits (continued) Post employment benefits Starting January 1, 2012, the Bank adopted SFAS No. 24 (Revised 2010), “Employee Benefit”. Under SFAS No. 24 (Revised 2010), “Employee Benefits”, the cost of providing the employee benefits is determined using the “Projected Unit Credit” actuarial valuation method. Actuarial gains and losses are recognized as income or expense when the net cumulative unrecognized actuarial gains and losses at the end of the previous reporting year exceeded 10% of the present value of the defined benefit obligation. These gains or losses are recognized on a straight-line method over the expected average remaining working life of the employees. Moreover, past service costs arising from the introduction of a defined benefit plan or changes in the benefit payable of an existing plan are required to be amortized over the period until the benefits concerned become vested. The Bank also has a defined contribution pension plan through Dana Pensiun Lembaga Keuangan (DPLK) program. Contributions borne by the Bank are recognized as current costs during the year. Long-term benefits The Bank provides the long-term employee benefits in the form of long service leave and long service awards. For long-term employee benefits, SFAS No. 24 (Revised 2010) requires accounting treatment similar with the accounting for defined benefit plans (as presented in the previous paragraph), except that the actuarial gains and losses and past service costs incurred should be recognized immediately in the current year statement of comprehensive income. aa. Transactions and Balances in Foreign Currency The financial statements are presented in Rupiah, which is the functional and reporting currency of the Bank. Transactions in foreign currencies are recorded at the exchange rates prevailing at the time the transactions are made. As of December 31, 2013 and 2012, monetary assets and liabilities in foreign currencies are translated into Rupiah based on Reuters published spot rate at 16.00 (Western Indonesian time), as follows (in full amount): 2013 1 United States Dollar (USD) 1 Australian Dollar (AUD) 1 Euro (EUR) 1 Singapore Dollar (SGD) 1 Saudi Arabia Riyal (SAR) 1 Hong Kong Dollar (HKD) 1 Japanese Yen (JPY)
12,170.00 10,855.64 16,759.31 9,622.07 3,245.12 1,569.54 115.75
2012 9,637.50 10,007.10 12,731.62 7,878.61 2,569.83 1,243.00 111.77
Differences of the translations on foreign currency assets and liabilities in the Rupiah are recognized as income or expense in the current year.
29
PT Bank Syariah Mandiri
367
Annual Report 2013
INDEPENDENT AUDITOR’S REPORT These report is originally issued in the Indonesian language
APPROVAL FOR PRINTING DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI NOTES TO FINANCIAL STATEMENTS POSITION SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________
2. SUMMARY OF ACCOUNTING POLICIES (continued) ab. Income Tax Current tax expense is determined based on the estimated taxable income for the year. Deferred tax assets and liabilities are recognized for temporary differences between assets and liabilities for commercial purposes against tax purposes at each reporting date. Future tax benefits, such as unused tax losses, are recognized to the extent possible that these benefits can be realized. Deferred tax assets and liabilities are measured at expected tax rates applicable to the period when the asset is realized or the liability is settled, based on the prevailing or substantially prevailing tax rates (and tax laws) at the statement of financial position date Amendments to taxation obligations are recorded when an assessment is received or, if objected or appealed against, when the results of the objection or appeal has been determined. ac. Basic Earnings per Share Basic earnings per share are computed by dividing net income with the weighted average number of shares issued and fully paid during the year. Net income used to calculate basic earnings per share for the years ended December 31, 2013 and 2012 amounted to Rp651,240,189,470 and Rp805,690,561,013, respectively. Total weighted average shares outstanding used as the divisor in calculating basic earnings per share as of December 31, 2013 and 2012 are 291,733,036 shares and 238,206,089 shares, respectively. ad. Use of Estimates The preparation of financial statements in conformity with financial accounting standards in Indonesia requires the use of estimates and assumptions that affect: 1) the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, 2) the reported amounts of revenues and expenses during the reporting period. Although these estimates are based on management’s best knowledge of current events and activities, actual results may differ from those estimates. ae. Significant accounting judgements and estimates In the process of applying the Bank’s accounting policies, management has exercised professional judgement and estimates in determining the amounts recognized in the financial statements. The several significant uses of the professional judgment and estimates are as follows: 1. Going concern The Bank’s management has made an assessment of the Bank’s ability to continue as a going concern and is satisfied that the Bank has the resources to continue its business for the foreseeable future. Furthermore, the management is not aware of any material uncertainties that may cast significant doubt upon the Bank’s ability to continue as a going concern. Therefore, the financial statements continue to be prepared on the going concern basis.
30
Annual Report 2013
368
PT Bank Syariah Mandiri
These report is originally issued in the Indonesian language
APPROVAL FOR PRINTING DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI NOTES TO FINANCIAL STATEMENTS POSITION SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________
2. SUMMARY OF ACCOUNTING POLICIES (continued) ae. Significant accounting judgements and estimates (continued) 2. Impairment losses on assets The Bank reviews its quality of assets at each statement of financial position date to assess whether an impairment loss should be recorded in the statement of comprehensive income. In determining whether an impairment loss should be recorded in comprehensive income, Bank made estimation whether there is any indication impairment of the quality of the assets. These estimates are based on assumptions about a number of factors and actual results may differ, resulting in future changes to the allowance. 3. Fair value of financial instruments When the fair values of financial assets and financial liabilities recorded on the statements of financial position cannot be derived from active markets, they are determined using a variety of valuation techniques that include the use of mathematical models. The inputs to these models are derived from observable market data where possible, but when observable market data are not available, management’s judgment is required to establish fair values. The management’s judgments include considerations of liquidity and model inputs such as discount rates, early payment rates and default rate assumptions. 4. Deferred tax assets Deferred tax assets are recognized for the future recoverable taxable income arising from temporary difference. Management’s judgement is required to determine the amount of deferred tax assets that can be recognized, based upon the likely timing on level of future taxable profits together with future tax planning strategics. 5. Provision for employee benefits Provision for employee benefits programs are determined based on actuarial valuation. The actuarial valuation involves assumptions such as discount rate, expected rate of returns on investments, future salary increase, mortality rate, resignation rates and others. Due to the long-term nature of these employee benefits, such estimates are subject to significant uncertainty. 6. Economic life of fixed assets The Management of the Bank estimate the useful life fixed assets based on the period over which the assets is expected to be available for use. The useful life of each item is reviewed periodically and updated if expectations differ from previous estimates due to physical and technical or commercial obsolescence and legal or other limits on the used of the asset. It is possible, that future results of operations could be materially affected by changes in the estimation due to changes in the factors mentioned above. The amount and timing of recorded expenses for each period will be affected by changes of other factors and condition when recorded. Decrease of estimated useful life of fixed assets will increase operating expenses.
31
PT Bank Syariah Mandiri
369
Annual Report 2013
INDEPENDENT AUDITOR’S REPORT These report is originally issued in the Indonesian language
APPROVAL FOR PRINTING DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI NOTES TO FINANCIAL STATEMENTS POSITION SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________
2. SUMMARY OF ACCOUNTING POLICIES (continued) af. Implementation of Accounting Guidelines for Indonesian Syariah Banking (“PAPSI”) 2013 and New Accounting Pronouncement 1. Implementation of Accounting Guidelines for Indonesian Syariah Banking (“PAPSI”) 2013 Bank Indonesia as the banking regulator in Indonesia has issued the revision of Pedoman Akuntansi Perbankan Indonesia (PAPSI 2013) and Surat Edaran Bank Indonesia No. 15/26/DPbS “Guidance on implementation of PAPSI 2013” which should be effectively implemented on August 1, 2013 (PAPSI 2013). On September Asosiasi Bank Syariah Indonesia (ASBISINDO) as the representative from syariah banking industry has submitted a letter to Bank Indonesia to request postponement of implementation PAPSI 2013 up to 1 January 2016. Currently the Bank is still in the process of preparing action plan regarding implementation of PAPSI 2013. 2. New Accounting Pronouncement Effective on or after 1 January 2014: On December 2013, Syariah Accounting Standards Boards of Indonesian Institute of Accountants has issued PSAK 102 Revision which will be effectively implemented on January 1, 2014 on a prospective catch-up basis. Major change in the PSAK 102 Revision is related to the accounting treatment for murabahah transaction which in substance categorized as financing transaction. Under PSAK 102 Revision, murabahah transaction which in substance is a murabahah financing should follow the accounting treatment of PSAK 55: “Financial Instruments: Recognition and Measurement”; PSAK 50: “Financial Instruments: Presentation” and PSAK 60: “Financial Instruments: “Financial Instruments: Disclosure” and other relevant PSAK. With the issuance of PSAK 102 Revision, starting January 1, 2014 the Bank will implement the previously issued Technical Bulletin No. 9 “Implementation of Annuity Method in Murabahah” as indicated in the Basis for Conclusion in PSAK 102 Revision. Currently the Bank is evaluating this PSAK 102 Revision and has not yet determined the effects on its financial statements. Effective on or after 1 January 2015: SFAS No. 24 (Revised 2013), “Employee Benefits”, adopted from IAS 19, which removes the corridor mechanism and contingent liability disclosure to simplify clarification and disclosure. Currently the Bank is evaluating this PSAK Revision and has not yet determined the effects on its financial statements.
32
Annual Report 2013
370
PT Bank Syariah Mandiri
These report is originally issued in the Indonesian language
APPROVAL FOR PRINTING DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI NOTES TO FINANCIAL STATEMENTS POSITION SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________
3. CURRENT ACCOUNTS AND PLACEMENTS WITH BANK INDONESIA 2013
2012
Wadiah current accounts Rupiah Foreign currencies
2,632,662,466,932 606,066,000,000
2,211,133,768,662 31,321,875,000
Total wadiah current accounts
3,238,728,466,932
2,242,455,643,662
5,400,000,000,000
3,125,000,000,000
418,389,525,016 100,000,000,000
57,922,744,536 -
Total placements with Bank Indonesia
5,918,389,525,016
3,182,922,744,536
Total current accounts and placements with Bank Indonesia
9,157,117,991,948
5,425,378,388,198
Placements with Bank Indonesia Bank Indonesia Syariah’s Deposit Facility Reverse Repo SBSN Bank Indonesia Bank Indonesia Syariah Certificate
In accordance with Bank Indonesia Regulation (PBI) No. 6/21/PBI/2004 dated August 3, 2004 on Minimum Reserve Requirement in Rupiah and Foreign Currencies for Commercial Bank Conducting Business Based on Syariah Principles, as amended by PBI No. 8/23/PBI/2006 dated October 5, 2006 and recently by Bank Indonesia Regulation (PBI) No. 10/23/PBI/2008 dated October 16, 2008, each bank is required to maintain Minimum Reserve Requirement (MRR) in Rupiah and foreign currencies which is set at 5% and 1% from the third party funds in Rupiah and foreign currencies.
Percentage MRR (unaudited) in Rupiah currency as of December 31, 2013 and 2012 were 5.22% and 5.06%, respectively. The percentage of MRR (unaudited) in foreign currency as of December 31, 2013 and 2012 were 14.66% and 1.22%, respectively. The Bank has placed its funds in Bank Indonesia Syariah’s Deposit Facility (FASBIS) and earned bonus at annual rates at 5.75% in 2013 and ranging from 3.75% to 5.75% per annum in 2012, respectively, which are recognized at maturity date. Reverse repo SBSN Bank Indonesia is receivable from SBSN purchased by the Bank from Bank Indonesia with agreement to resell by the Bank at an agreed priced and period. The Bank earned bonus from reverse repo SBSN Bank Indonesia at annual rates 4.30% to 6.35% in 2013 and 4.40% to 4.42% in 2012, which are recognized during the terms of the reverse repo transaction. Term of period Reverse Repo SBSN Bank Indonesia as of December 31, 2013 were 28 days.
33
PT Bank Syariah Mandiri
371
Annual Report 2013
INDEPENDENT AUDITOR’S REPORT These report is originally issued in the Indonesian language
APPROVAL FOR PRINTING DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI NOTES TO FINANCIAL STATEMENTS POSITION SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________
4. CURRENT ACCOUNTS WITH OTHER BANKS 2013 Third parties Syariah Banking Riyal Saudi Arabia Al Rajhi Bank United Stated Dollar Al Rajhi Bank
2012
577,996,681
457,719,745
51,998,637
41,178,050
629,995,318
498,897,795
11,122,272,519
3,065,711,056
132,797,250,280 207,227,963,212 28,047,203,494 88,703,869,657 7,518,220,739 3,491,695
69,215,490,125 46,603,039,006 25,478,722,454 7,712,770,203 1,575,658,198 -
5,419,240,008 6,018,682,868
2,659,825,321 2,498,381,123
6,833,788,145 10,248,821,012
3,046,431,710 1,809,408,540
1,328,779,581
1,002,565,917
12,318,351,362
29,823,037
155,305,983
-
517,743,240,555
164,697,826,690
518,373,235,873
165,196,724,485
31,070,441,865
5,924,789,658
94,230,402,143 114,286,723 100,261,124 2,377,169 1,551,219 1,060,065 1,600,000
80,401,833,222 116,367,311 100,000,000 4,648,479 2,489,376 2,243,240 -
35,516,174,920
14,124,536,020
8,059,244,300
5,415,827,923
Total related parties
169,097,399,528
106,092,735,229
Total current account with other banks Allowance for possible losses
687,470,635,401 (6,932,161,458)
271,289,459,714 (2,728,200,198)
Net
680,538,473,943
268,561,259,516
Non-Syariah Bank Rupiah PT Bank Central Asia Tbk, United States Dollar Wells Fargo Bank N,A (formerly Wachovia Bank N,A) Citibank N,A Deutsche Bank AG PT Bank Central Asia Tbk. Commerzbank AG HSBC Bank Singapore Dollar United Overseas Bank Limited DBS Bank Singapore Ltd Euro Commerz Bank AG Deutsche Bank AG Australian Dollar Australia and New Zealand Bank Japanese Yen Sumitomo Mitsui Bank Hongkong Dollar HSBC Bank
Total third parties Related parties (Note 38) Syariah Banking Rupiah PT Bank BNI Syariah Non-Syariah Banking Rupiah PT Bank Mandiri (Persero) Tbk. PT Bank Negara Indonesia (Persero) Tbk. PT Bank Rakyat Indonesia (Persero) Tbk. PT Bank BPD Sulawesi Tengah PT Bank Aceh PT Bank Jawa Tengah PT Bank BPD Sumsel Babel United States Dollar PT Bank Mandiri (Persero) Tbk. Singapore Dollar PT Bank Mandiri (Persero) Tbk.
34
Annual Report 2013
372
PT Bank Syariah Mandiri
APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language
DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI NOTES TO FINANCIAL STATEMENTS POSITION SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________
4. CURRENT ACCOUNTS WITH OTHER BANKS (continued) The movements of the allowance for possible losses for current accounts with other banks are as follows: 2013 Rupiah Balance at beginning of year Provision during the year Exchange rate differences Balance at end of year
Foreign Currency
Total
911,486,424 512,411,208 -
1,816,713,774 3,214,161,971 477,388,081
2,728,200,198 3,726,573,179 477,388,081
1,423,897,632
5,508,263,826
6,932,161,458
2012 Rupiah Balance at beginning of year Reversal during the year Exchange rate differences
Foreign Currency
Total
1,807,554,537 (896,068,113) -
4,343,408,318 (2,801,094,599) 274,400,055
6,150,962,855 (3,697,162,712) 274,400,055
911,486,424
1,816,713,774
2,728,200,198
Balance at end of year
Based on management review and evaluation, all current accounts with other banks as of December 31, 2013 and 2012 were classified as current. Management believes that the allowance for possible losses is adequate to cover possible losses from uncollectible current accounts with other banks and in compliance with Bank Indonesia regulation. All income received from current accounts with non-syariah banks are recorded as qardhul hasan funds (Note 14). 5. PLACEMENTS WITH OTHER BANKS 2013 Third parties Rupiah Interbank Mudharabah Investment Certificate (SIMA) PT Bank Danamon Indonesia Tbk. Syariah Business Unit PT Bank Victoria Syariah Total third parties
35
PT Bank Syariah Mandiri
373
Annual Report 2013
2012
-
50,000,000,000 15,000,000,000
-
65,000,000,000
INDEPENDENT AUDITOR’S REPORT These report is originally issued in the Indonesian language
APPROVAL FOR PRINTING DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI NOTES TO FINANCIAL STATEMENTS POSITION SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________
5. PLACEMENTS WITH OTHER BANKS (continued) 2013 Related parties (Note 38) Rupiah Interbank Mudharabah Investment Certificate (SIMA) PT Bank BRISyariah
2012
-
50,000,000,000
-
30,000,000,000
50,000,000,000
25,000,000,000
50,000,000,000
105,000,000,000
Total placements with other banks Allowance for possible losses
50,000,000,000 (500,000,000)
170,000,000,000 (1,700,000,000)
Net
49,500,000,000
168,300,000,000
Time Deposits PT Bank Tabungan Negara (Persero) Tbk. Syariah Business Unit PT BPD Jawa Tengah Syariah Business Unit Total related parties
Profit sharing of time deposits in Rupiah were ranging from 5.00% to 7.10% per annum in 2013 and ranging from 4.75% to 5.00% per annum in 2012. Profit sharing of SIMA in Rupiah were ranging from 4.25% to 6.80% per annum in 2013 and ranging from 3.90% to 4.60% per annum in 2012. Profit sharing of SIMA in foreign currency were ranging from 0.30% to 1.75% per annum in 2013 and 0.70% to 4.27% per annum in 2012. Placements with other banks based on remaining term until maturity before allowance for possible losses are as follows: 2013 2012 Less than 1 month
50,000,000,000
170,000,000,000
Total
50,000,000,000
170,000,000,000
Placements with other banks based on tenor before allowance for possible losses are as follows: 2013
2012
1 - 3 months More than 3 months
50,000,000,000 -
145,000,000,000 25,000,000,000
Total
50,000,000,000
170,000,000,000
The movements of the allowance for possible losses for placements with other banks are as follows: 2013 Rupiah Balance at beginning of year Reversal during the year Balance at end of year
Foreign Currency
Total
1,700,000,000
-
1,700,000,000
(1,200,000,000)
-
(1,200,000,000)
500,000,000
-
500,000,000
36
Annual Report 2013
374
PT Bank Syariah Mandiri
APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language
DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI NOTES TO FINANCIAL STATEMENTS POSITION SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________
5. PLACEMENTS WITH OTHER BANKS (continued) The movements of the allowance for possible losses for placements with other banks are as follows: (continued) 2012 Rupiah
Foreign Currency
Balance at beginning of year Provision/(reversal) during the year
1,000,000,000 700,000,000
Balance at end of year
1,700,000,000
Total
816,075,000 (816,075,000)
1,816,075,000 (116,075,000)
-
1,700,000,000
Based on management review and evaluation, all placements with other banks as of December 31, 2013 and 2012 were classified as current. Management believes that the allowance for possible losses on placements with other banks is sufficient to cover possible losses from uncollectible placements with other banks and in compliance with Bank Indonesia regulation. 6. INVESTMENT IN MARKETABLE SECURITIES a. By Type, Currency and Collectibility 2013
Nominal amount
Unamortized amount of the difference between acquisition cost and nominal amount
Unrealized loss on available for sale securities
Carrying amount Fair value Current
Loss
Total
Rupiah At cost Corporate sukuk Syariah government securities (SBSN) Export bills
728,000,000,000
2,840,901,128
-
593,840,729,625
137,000,171,503
730,840,901,128
715,000,000,000 11,777,986,346
(2,415,391,074 ) -
-
712,584,608,926 11,777,986,346
-
712,584,608,926 11,777,986,346
Total held-to-maturity marketable securities
1,454,777,986,346
425,510,054
-
1,318,203,324,897
137,000,171,503
1,455,203,496,400
Syariah mutual funds
27,000,000,000
-
(594,706,051 )
26,405,293,949
-
26,405,293,949
Total available for sale
27,000,000,000
-
(594,706,051 )
26,405,293,949
-
26,405,293,949
Available-for-sale
At fair value Retail sukuk
36,130,000,000
(768,944,850 )
-
35,361,055,150
-
35,361,055,150
36,130,000,000
(768,944,850 )
-
35,361,055,150
-
35,361,055,150
Total investment in marketable securities - Rupiah 1,517,907,986,346
(343,434,796 )
1,379,969,673,996
137,000,171,503
1,516,969,845,499
(594,706,051 )
Allowance for possible losses
(143,320,241,814 )
Net
1,373,649,603,685
37
PT Bank Syariah Mandiri
375
Annual Report 2013
INDEPENDENT AUDITOR’S REPORT APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language
DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI NOTES TO FINANCIAL STATEMENTS POSITION SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________
6. INVESTMENT IN MARKETABLE SECURITIES (continued) a. By Type, Currency and Collectibility (continued) 2012 Unamortized amount of the difference between acquisition cost and nominal amount
Nominal amount
Unrealized loss on available for sale securities
Carrying amount Fair value Current
Loss
Total
Rupiah At cost Corporate sukuk 779,000,000,000 Syariah government securities (SBSN) 1,055,000,000,000 Export bills 23,168,935,382 Total held-to-maturity marketable securities
4,728,161,215
-
646,727,989,712
137,000,171,503
783,728,161,215
(4,679,020,549 ) -
-
1,050,320,979,451 23,168,935,382
-
1,050,320,979,451 23,168,935,382
1,857,168,935,382
49,140,666
-
1,720,217,904,545
137,000,171,503
1,857,218,076,048
Syariah mutual funds
27,000,000,000
-
351,723,031
27,351,723,031
-
27,351,723,031
Total available for sale
27,000,000,000
-
351,723,031
27,351,723,031
-
27,351,723,031
10,979,000,000
69,605,000
-
11,048,605,000
-
11,048,605,000
10,979,000,000
69,605,000
-
11,048,605,000
-
11,048,605,000
118,745,666
351,723,031
1,758,618,232,576
137,000,171,503
1,895,618,404,079
Available-for-sale
At fair value Retail sukuk
Total investment in marketable securities - Rupiah 1,895,147,935,382 Allowance for possible losses
(143,972,657,984 )
Net
1,751,645,746,095
b. By Maturity Following are classification based on remaining term until maturity: 2013 Less than 1 year
1 - 5 years
More than 5 years
Total
At cost Available for sale At fair value
264,785,439,937 26,405,293,949 11,702,687,670
1,073,417,884,960 23,658,367,480
117,000,171,503 -
1,455,203,496,400 26,405,293,949 35,361,055,150
Total investment in marketable securities Allowance for possible losses
302,893,421,556
1,097,076,252,440
117,000,171,503
1,516,969,845,499 (143,320,241,814 )
Net
1,373,649,603,685
2012 Less than 1 year
1 - 5 years
More than 5 years
Total
At cost Available for sale At fair value
650,336,233,479 27,351,723,031 11,048,605,000
1,126,881,842,569 -
80,000,000,000 -
1,857,218,076,048 27,351,723,031 11,048,605,000
Total investment in marketable securities Allowance for possible losses
688,736,561,510
1,126,881,842,569
80,000,000,000
1,895,618,404,079 (143,972,657,984)
Net
1,751,645,746,095
38
Annual Report 2013
376
PT Bank Syariah Mandiri
APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language
DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI NOTES TO FINANCIAL STATEMENTS POSITION SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________
6. INVESTMENT IN MARKETABLE SECURITIES (continued) c. By Issuer 2013 Rating Company
Rating
Total (Rp)
At cost Rupiah Corporate sukuk PT Indosat Tbk. PT Perusahaan Listrik Negara (Persero) PT Berlian Laju Tanker Tbk. *) PT Salim Ivomas Pratama Tbk. - 2009 PT Titan Petrokimia Nusantara – 2010 PT Matahari Putra Prima Tbk. PT Bank Pembangunan Daerah Sulawesi Selatan – 2011 PT Arpeni Pratama Line Ocean Syariah government securities (SBSN) *) SBSN ijarah RI 2008 serie IFR0001 SBSN ijarah RI 2009 serie IFR0003
PT Pefindo
idAA+
108,007,453,591
PT Pefindo -
idAA+ -
316,581,308,411 87,000,171,503
PT Pefindo Fitch PT Pefindo
idAA A+(idn) idA+
60,000,000,000 51,216,346,154 45,000,000,000
PT Pefindo -
idA -
13,035,621,469 50,000,000,000
-
-
250,000,000,000 462,584,608,926
-
-
6,355,853,062 1,718,427,300 1,233,916,560 872,000,000 683,514,761 544,674,663 369,600,000
Export bills *) PT Biduk Mas PT KAY PI Transmalindo CV Karunia Perdana PT Dua Sekawan Agro Lestari PT Indo Dayasurya Persada PT Telvindo Jaya PT Makmur Karunia Abadi Total at cost
1,455,203,496,400
Available for sale Rupiah Mutual funds *) I-Hajj Syaria Fund managed by PT Insight Investment MNC Dana Syariah managed by PT Bhakti Asset Management Mega Dana Syariah managed by PT Mega Capital Indonesia
-
-
11,458,488,548
-
-
10,086,231,337
-
-
4,860,574,064
Total available for sale
26,405,293,949
At fair value Rupiah Retail sukuk *) SR-003 SR-004 SR-005
-
Total at fair value
11,702,687,670 18,703,894,320 4,954,473,160 35,361,055,150
39
PT Bank Syariah Mandiri
-
377
Annual Report 2013
INDEPENDENT AUDITOR’S REPORT APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language
DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI NOTES TO FINANCIAL STATEMENTS POSITION SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________
6. INVESTMENT IN MARKETABLE SECURITIES (continued) c. By Issuer (continued) 2013 Rating Company Total investment in marketable securities Allowance for possible losses
Rating -
Total (Rp) -
Net
1,516,969,845,499 (143,320,241,814) 1,373,649,603,685
*) Non-rated
2012 Rating Company
Rating
Total (Rp)
At cost Rupiah Corporate sukuk PT Indosat Tbk. PT Perusahaan Listrik Negara (Persero) PT Berlian Laju Tangker Tbk. PT Mayora Indah Tbk. PT Salim Ivomas Pratama Tbk. - 2009 PT Aneka Gas Industri PT Titan Petrokimia Nusantara - 2010 PT Matahari Putra Prima Tbk. PT Metrodata Electronics Indonesia PT Bank Muamalat Indonesia Tbk. PT Bank Pembangunan Daerah Sulawesi Selatan - 2011 PT Arpeni Pratama Line Ocean
PT Pefindo
idAA+
168,039,594,463
PT Pefindo PT Pefindo PT Pefindo
idAA+ idD idAA-
117,590,654,206 87,000,171,503 75,000,000,000
PT Pefindo Fitch Fitch PT Pefindo Fitch Fitch
idAA A-(idn) A+(idn) idA+ BBB+(idn) BBB(idn)
60,000,000,000 53,001,757,231 52,045,673,077 45,000,000,000 33,000,000,000 30,000,000,000
PT Pefindo -
idA -
13,050,310,735 50,000,000,000
Syariah government securities (SBSN) *) SBSN ijarah RI 2008 serie IFR0001 SBSN ijarah RI 2009 serie IFR0003 SBSN ijarah RI 2009 serie IFR0004
-
-
250,000,000,000 461,169,492,166 339,151,487,285
Export bills *) PT Sadajiwa PT Sinar Raya Trading PT Beton Kaltim Redymix PT Waltret Services PT KAY PI Transmalindo PT Arminta PT Enerkom Utama PT Duta Cipta Pakarperkasa PT Makmur Karunia Abadi PT Armada Mix CV Bangun Citra Inti
-
-
6,105,524,900 4,480,717,336 3,718,759,550 2,566,186,685 1,331,050,000 1,157,494,170 1,085,614,772 1,018,400,000 909,450,000 519,155,000 276,582,969
Total at cost
1,857,218,076,048
40
Annual Report 2013
378
PT Bank Syariah Mandiri
APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language
DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI NOTES TO FINANCIAL STATEMENTS POSITION SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________
6. INVESTMENT IN MARKETABLE SECURITIES (continued) c. By Issuer (continued) 2012 Rating Company
Rating
Total (Rp)
Available for sale Rupiah Mutual funds *) I-Hajj Syaria Fund managed by PT Bank CIMB Niaga Tbk MNC Dana Syariah managed by PT Bhakti Asset Management Mega Dana Syariah managed by PT Mega Capital Indonesia
-
-
12,144,460,236
-
-
10,002,077,240
-
-
5,205,185,555
Total available for sale
27,351,723,031
At fair value Rupiah Retail sukuk *) SR-002 SR-003 SR-004
-
-
Total at fair value
785,000,000 3,092,875,000 7,170,730,000 11,048,605,000
Total investment in marketable securities Allowance for possible losses
-
-
Net
1,895,618,404,079 (143,972,657,984) 1,751,645,746,095
*) Non-rated
d. Related parties 2013
2012
Third parties At cost Available-for-sale
304,994,504,003 26,405,293,949
430,389,967,575 27,351,723,031
Total third parties
331,399,797,952
457,741,690,606
Related parties (Note 38) At cost At fair value
1,150,208,992,397 35,361,055,150
1,426,828,108,473 11,048,605,000
Total related parties
1,185,570,047,547
1,437,876,713,473
Total investment in marketable securities
1,516,969,845,499
1,895,618,404,079
Export bills have a remaining term to maturity less than 1 (one) month.
41
PT Bank Syariah Mandiri
379
Annual Report 2013
INDEPENDENT AUDITOR’S REPORT APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language
DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI NOTES TO FINANCIAL STATEMENTS POSITION SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________
6. INVESTMENT IN MARKETABLE SECURITIES (continued) Movements in allowance for possible losses on investments in marketable securities are as follows: 2013 Rupiah
Foreign Currency
Total
Balance at beginning of year Reversal during the year
143,972,657,984 (652,416,170)
-
143,972,657,984 (652,416,170)
Balance at end of year
143,320,241,814
-
143,320,241,814
2012 Rupiah Balance at beginning of year Provision during the year Balance at end of year
Foreign Currency
Total
73,044,263,739 70,928,394,245
-
73,044,263,739 70,928,394,245
143,972,657,984
-
143,972,657,984
Management believes that the allowance for possible losses on investment in marketable securities is adequate to cover possible losses from uncollectible investment in marketable securities and in compliance with Bank Indonesia regulation. Effective January 1, 2012, the Bank implemented SFAS No. 110 and reclassified marketable securities - Available for sale to Measured at cost amounting to Rp129,540,000,000 based on transition rules of the SFAS No. 110. Based on this transition rules, the Bank also has reclassified unrealized loss from available for sale amounting to Rp6,540,000,000 into retained earnings. 7. RECEIVABLES a. By Type, Currency, and Collectibility 2013 Current Rupiah Murabahah Istishna Ijarah
Foreign currency Murabahah
Special Mention
Substandard
Doubtful
Loss
Total
27,773,853,549,633 42,030,670,946 66,967,963,248
1,467,966,984,060 988,259,880 641,776,609
483,837,895,596 6,369,000,000 -
199,348,194,664 -
800,046,238,678 8,565,000,000 -
30,725,052,862,631 57,952,930,826 67,609,739,857
27,882,852,183,827
1,469,597,020,549
490,206,895,596
199,348,194,664
808,611,238,678
30,850,615,533,314
2,440,644,660,336
41,678,224,164
-
-
-
2,482,322,884,500
2,440,644,660,336
41,678,224,164
-
-
-
2,482,322,884,500
Total receivables 30,323,496,844,163 Allowance for possible losses (297,734,588,265 )
1,511,275,244,713 (45,087,177,506 )
490,206,895,596 (47,627,411,237 )
199,348,194,664 (145,089,614,685 )
808,611,238,678 (435,145,152,779 )
33,332,938,417,814 (970,683,944,472)
Net
1,466,188,067,207
442,579,484,359
54,258,579,979
373,466,085,899
32,362,254,473,342
30,025,762,255,898
2012 Current Rupiah Murabahah Istishna Ijarah Foreign currency Murabahah
Special Mention
Substandard
Doubtful
Loss
Total
23,600,133,777,695 42,852,077,778 134,993,258,605
1,195,041,578,629 25,130,466,436 1,314,438,081
381,753,515,118 -
135,529,770,910 -
279,323,870,444 -
25,591,782,512,796 67,982,544,214 136,307,696,686
23,777,979,114,078
1,221,486,483,146
381,753,515,118
135,529,770,910
279,323,870,444
25,796,072,753,696
1,957,481,966,918
-
-
-
-
1,957,481,966,918
1,957,481,966,918
-
-
-
-
1,957,481,966,918
Total receivables 25,735,461,080,996 Allowance for possible losses (251,822,526,274 )
1,221,486,483,146 (92,314,915,176 )
381,753,515,118 (117,752,740,542 )
135,529,770,910 (84,466,130,208 )
279,323,870,444 (250,007,997,336 )
27,753,554,720,614 (796,364,309,536)
Net
1,129,171,567,970
264,000,774,576
51,063,640,702
29,315,873,108
26,957,190,411,078
25,483,638,554,722
42
Annual Report 2013
380
PT Bank Syariah Mandiri
APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language
DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI NOTES TO FINANCIAL STATEMENTS POSITION SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________
7. RECEIVABLES (continued) b. By Economic Sector, Currency, and Collectibility 2013 Current Rupiah Trading Business services Manufacturing Construction Agriculture Transportation and communication Social services Electricity, gas and water Mining Others
Foreign currency Trading Business services Construction Transportation and communication Electricity, gas, and water Mining ’
Special Mention
Substandard
Doubtful
Loss
Total
2,933,531,156,266 3,147,649,250,339 1,477,694,999,361 1,593,042,892,672 1,181,850,237,398
222,792,633,883 247,648,536,857 56,732,946,676 42,962,925,676 94,740,650,734
63,803,940,192 25,102,230,514 72,597,728,894 3,856,515,228 70,941,846,873
31,174,179,963 22,563,173,609 2,526,591,656 1,034,587,891 21,982,170,438
121,002,834,158 69,899,659,980 132,717,292,228 72,877,206,183 96,547,339,384
3,372,304,744,462 3,512,862,851,299 1,742,269,558,815 1,713,774,127,650 1,466,062,244,827
1,003,230,669,525 608,745,129,382 244,763,373,020 676,674,106,584 15,015,670,369,280
206,426,434,413 44,930,872,279 15,837,883,716 314,454,192 537,209,682,123
56,981,723,115 57,530,058,248 554,218,186 360,177,891 138,478,456,455
1,857,943,218 836,540,817 227,035,741 26,380,933,104 90,765,038,227
2,289,608,994 3,314,102,365 5,295,146,769 9,473,228,915 295,194,819,702
1,270,786,379,265 715,356,703,091 266,677,657,432 713,202,900,686 16,077,318,365,787
27,882,852,183,827
1,469,597,020,549
490,206,895,596
199,348,194,664
808,611,238,678
30,850,615,533,314
379,045,514,192 567,580,875,812 453,292,683,912
19,268,341,013 -
-
-
-
398,313,855,205 567,580,875,812 453,292,683,912
526,840,366,457 143,558,624,827 370,326,595,136
22,409,883,151 -
-
-
-
549,250,249,608 143,558,624,827 370,326,595,136
2,440,644,660,336
41,678,224,164
-
-
-
2,482,322,884,500
Total receivables 30,323,496,844,163 Allowance for possible losses (297,734,588,265 )
1,511,275,244,713 (45,087,177,506 )
490,206,895,596 (47,627,411,237 )
199,348,194,664 (145,089,614,685 )
808,611,238,678 (435,145,152,779 )
33,332,938,417,814 (970,683,944,472 )
Net
1,466,188,067,207
442,579,484,359
54,258,579,979
373,466,085,899
32,362,254,473,342
30,025,762,255,898
2012 Current Rupiah Trading Business services Manufacturing Construction Agriculture Transportation and communication Social services Electricity, gas and water Mining Others
Foreign currency Trading Business services Construction Transportation and communication Electricity, gas, and water Mining
Special Mention
Substandard
Doubtful
Loss
Total
2,520,007,307,722 2,400,609,806,525 1,538,499,965,409 1,263,401,160,669 1,223,838,861,898
203,768,782,857 126,476,602,192 33,425,080,265 99,723,478,163 164,190,438,598
51,338,940,234 45,473,206,385 4,169,587,144 123,556,434,193 32,117,257,461
65,737,682,703 12,411,579,901 1,633,227,471 577,945,503 8,348,964,504
46,697,948,010 34,014,199,391 4,889,821,593 23,594,642,567 35,032,310,715
2,887,550,661,526 2,618,985,394,394 1,582,617,681,882 1,510,853,661,095 1,463,527,833,176
969,355,277,715 580,595,697,631 465,268,682,509 131,515,089,786 12,684,887,264,214
70,891,625,561 73,557,975,995 223,222,095 10,463,331,443 438,765,945,977
1,794,586,769 2,679,473,431 4,063,050,411 70,713,801 116,490,265,289
862,059,984 805,346,982 2,070,151,762 43,082,812,100
31,513,112,736 3,030,120,517 9,411,866,785 318,036,351 90,821,811,779
1,074,416,662,765 660,668,614,556 478,966,821,800 144,437,323,143 13,374,048,099,359
23,777,979,114,078
1,221,486,483,146
381,753,515,118
135,529,770,910
279,323,870,444
25,796,072,753,696
435,077,170,350 169,001,542,928 427,885,728,277
-
-
-
-
435,077,170,350 169,001,542,928 427,885,728,277
521,159,388,390 266,818,617,955 137,539,519,018
-
-
-
-
521,159,388,390 266,818,617,955 137,539,519,018
1,957,481,966,918
-
-
-
-
1,957,481,966,918
Total receivables 25,735,461,080,996 Allowance for possible losses (251,822,526,274 )
1,221,486,483,146 (92,314,915,176 )
381,753,515,118 (117,752,740,542 )
135,529,770,910 (84,466,130,208 )
279,323,870,444 (250,007,997,336 )
27,753,554,720,614 (796,364,309,536 )
Net
1,129,171,567,970
264,000,774,576
51,063,640,702
29,315,873,108
26,957,190,411,078
25,483,638,554,722
43
PT Bank Syariah Mandiri
381
Annual Report 2013
INDEPENDENT AUDITOR’S REPORT These report is originally issued in the Indonesian language
APPROVAL FOR PRINTING DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI NOTES TO FINANCIAL STATEMENTS POSITION SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________
7. RECEIVABLES (continued) c. By Period (based on agreement) 2013
2012
2,070,122,437,684 1,302,245,117,842 11,471,684,006,290 16,006,563,971,498
1,861,639,763,173 1,199,877,240,040 13,134,974,623,535 9,599,581,126,948
30,850,615,533,314
25,796,072,753,696
56,759,076,608 46,198,699,713 1,139,229,450,528 1,240,135,657,651
31,155,501,103 145,317,895,635 1,326,831,761,853 454,176,808,327
2,482,322,884,500
1,957,481,966,918
Total receivables Allowance for possible losses
33,332,938,417,814 (970,683,944,472)
27,753,554,720,614 (796,364,309,536)
Net
32,362,254,473,342
26,957,190,411,078
2013
2012
3,822,610,335,793 3,649,307,354,183 12,041,949,021,789 11,336,748,821,549
3,271,730,370,856 2,617,097,895,957 11,962,844,191,972 7,944,400,294,911
30,850,615,533,314
25,796,072,753,696
213,831,510,928 365,999,699,415 1,365,478,279,837 537,013,394,320
280,299,714,865 443,747,911,329 1,034,894,682,278 198,539,658,446
2,482,322,884,500
1,957,481,966,918
Total receivables Allowance for possible losses
33,332,938,417,814 (970,683,944,472)
27,753,554,720,614 (796,364,309,536)
Net
32,362,254,473,342
26,957,190,411,078
Rupiah Less than 1 year 1 - 2 years More than 2 - 5 years More than 5 years Foreign currency Less than 1 year 1 - 2 years More than 2 - 5 years More than 5 years
d. Based on Remaining Period Until Maturity
Rupiah Less than 1 year 1 - 2 years More than 2 - 5 years More than 5 years
Foreign currency Less than 1 year 1 - 2 years More than 2 - 5 years More than 5 years
44
Annual Report 2013
382
PT Bank Syariah Mandiri
APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language
DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI NOTES TO FINANCIAL STATEMENTS POSITION SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________
7. RECEIVABLES (continued) e. Related parties 2013
2012
Third parties Murabahah Istishna Ijarah
33,085,804,271,288 57,952,930,826 67,609,739,857
27,342,232,464,859 67,982,544,214 136,307,696,686
Total third parties
33,211,366,941,971
27,546,522,705,759
121,571,475,843
207,032,014,855
33,332,938,417,814
27,753,554,720,614
Related parties (Note 38) Murabahah Total receivables f.
Other Significant Information (i) Receivables are generally secured by registered mortgages, powers of attorney to mortgage or sell, time deposits, and other guarantees accepted by the Bank. Total mudharabah deposits pledged as collateral are disclosed in Note 23. (ii) Effective yield of margin receivable for Rupiah ranging from 5.86% to 29.42% per annum in 2013 and ranging from 2.74% to 15.66% per annum in 2012, and for foreign currency ranging from 1.45% to 11.81% per annum in 2013 and ranging from 5.31% to 8.41% per annum in 2012. (iii) Restructured receivables as of December 31, 2013 and 2012 were Rp2,298,201,830,384 and Rp2,064,583,302,269, respectively. Receivables were being restructured by providing period extension, rescheduling and additional receivable plafond for debtors. (iv) Ratio of non-performing receivable gross and net as of December 31, 2013 were 4.49% and 2.61% (2012: 2.87% and 1.24%). (v) Movements in allowance for possible losses on receivables are as follows: 2013 Rupiah Balance at beginning of year Provision during the year Recovery of receivables previously written-off Write-back of receivable previously written-off Written-off during the year Exchange rate differences Balance at end of year
Foreign Currency
776,877,214,334 297,558,605,737
19,487,095,202 (1,245,853,134)
796,364,309,536 296,312,752,603
134,444,863,415
-
(264,687,096,826) -
8,249,115,744
(264,687,096,826) 8,249,115,744
944,193,586,660
26,490,357,812
970,683,944,472
45
PT Bank Syariah Mandiri
Total
383
Annual Report 2013
134,444,863,415
INDEPENDENT AUDITOR’S REPORT APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language
DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI NOTES TO FINANCIAL STATEMENTS POSITION SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________
7. RECEIVABLES (continued) f.
Other Significant Information (continued) (v) Movements in allowance for possible losses on receivables are as follows (continued): 2012 Rupiah Balance at beginning of year Provision during the year Recovery of receivables previously written-off Write-back of receivable previously written-off Written-off during the year Exchange rate differences Balance at end of year
Foreign Currency
Total
525,835,318,525 219,455,097,870
10,600,472,836 6,696,130,965
536,435,791,361 226,151,228,835
106,224,737,407
-
106,224,737,407
31,914,370,563 (106,552,310,036) -
2,190,491,406
31,914,370,563 (106,552,310,036) 2,190,491,406
776,877,214,329
19,487,095,207
796,364,309,536
Management believes that the allowance for possible losses on receivables is adequate to cover possible losses from uncollectible receivables and in compliance with Bank Indonesia regulation. (vi) Accrued margin murabahah income as of December were Rp211,075,579,212 and Rp194,667,901,692, respectively.
31,
2013
and
2012
8. FUNDS OF QARDH a. Based on Type, Currency, and Collectibility 2013 Current Rupiah Qardh Rahn Foreign currency Qardh Total funds of qardh Allowance for possible losses Net
Special Mention
Substandard
Doubtful
Loss
Total
4,327,476,748,400 1,205,771,940,008
39,509,000,000 18,140,118,429
4,802,631,200 129,629,615
2,462,000,000 656,742,890
11,891,200,000 170,291,301
4,386,141,579,600 1,224,868,722,243
5,533,248,688,408
57,649,118,429
4,932,260,815
3,118,742,890
12,061,491,301
5,611,010,301,843
2,044,560,000
-
-
-
-
2,044,560,000
2,044,560,000 5,535,293,248,408
57,649,118,429
4,932,260,815
3,118,742,890
12,061,491,301
2,044,560,000 5,613,054,861,843
(1,231,000,000 )
(11,098,700,000 )
(43,295,025,084 ) 5,491,998,223,324
(1,974,325,000 ) 55,674,793,429
(717,019,680 ) 4,215,241,135
1,887,742,890
962,791,301
(58,316,069,764 ) 5,554,738,792,079
2012 Current Rupiah Qardh Rahn
Special Mention
Substandard
Doubtful
Loss
Total
5,106,938,751,083 1,044,504,084,236
26,629,563,331 2,441,260,841
2,961,500,000 72,411,076
1,717,500,000 3,000,000
11,272,766,669 -
5,149,520,081,083 1,047,020,756,153
6,151,442,835,319
29,070,824,172
3,033,911,076
1,720,500,000
11,272,766,669
6,196,540,837,236
1,992,718,568
-
-
-
727,069,673
2,719,788,241
1,992,718,568
-
-
-
727,069,673
2,719,788,241
Total funds of qardh Allowance for possible losses
6,153,435,553,887
29,070,824,172
3,033,911,076
1,720,500,000
11,999,836,342
6,199,260,625,477
Net
6,102,390,797,191
Foreign currency Qardh
(51,044,756,696 )
(1,331,478,167 ) 27,739,346,005
(444,225,000 ) 2,589,686,076
(858,750,000 ) 861,750,000
(11,934,562,037 ) 65,274,305
( 65,613,771,900 ) 6,133,646,853,577
46
Annual Report 2013
384
PT Bank Syariah Mandiri
APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language
DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI NOTES TO FINANCIAL STATEMENTS POSITION SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________
8. FUNDS OF QARDH (continued) b. Based on Economic Sector, Currency, and Collectibility 2013 Current Rupiah Trading Business services Social services Manufacturing Mining Agriculture Others (including hajj bridging funds and rahn)
Foreign currency Others
Special Mention
Substandard
Doubtful
Loss
Total
40,980,000 178,500,000 202,500,000 45,000,000 180,000,000
-
225,131,200
-
17,500,000 -
40,980,000 178,500,000 202,500,000 17,500,000 45,000,000 405,131,200
5,532,601,708,408
57,649,118,429
4,707,129,615
3,118,742,890
12,043,991,301
5,610,120,690,643
5,533,248,688,408
57,649,118,429
4,932,260,815
3,118,742,890
12,061,491,301
5,611,010,301,843
2,044,560,000
-
-
-
-
2,044,560,000
2,044,560,000
-
-
-
-
2,044,560,000
Total funds of qardh Allowances for possible losses
5,535,293,248,408
57,649,118,429
4,932,260,815
3,118,742,890
12,061,491,301
5,613,054,861,843
(1,231,000,000 )
(11,098,700,000 )
Net
5,491,998,223,324
(43,295,025,084 )
(1,974,325,000 ) 55,674,793,429
(717,019,680 ) 4,215,241,135
1,887,742,890
962,791,301
(58,316,069,764 ) 5,554,738,792,079
2012 Current Rupiah Trading Business services Others (including hajj bridging funds and rahn)
Foreign currency Business services Others
Special Mention
Substandard
Doubtful
Loss
Total
1,150,000,000 248,000,000
-
-
-
-
1,150,000,000 248,000,000
6,150,044,835,319
29,070,824,172
3,033,911,076
1,720,500,000
11,272,766,669
6,195,142,837,236
6,151,442,835,319
29,070,824,172
3,033,911,076
1,720,500,000
11,272,766,669
6,196,540,837,236
1,769,826,998 222,891,570
-
-
-
727,069,673
1,769,826,998 949,961,243
1,992,718,568
-
-
-
727,069,673
2,719,788,241
Total funds of qardh Allowances for possible losses
6,153,435,553,887
29,070,824,172
3,033,911,076
1,720,500,000
11,999,836,342
6,199,260,625,477
Net
6,102,390,797,191
(51,044,756,696 )
(1,331,478,167 ) 27,739,346,005
(444,225,000 ) 2,589,686,076
c. Financing Period (based on agreements)
(858,750,000 )
(11,934,562,037 )
861,750,000
2013
Rupiah Less than 1 year 1 - 2 years More than 2 - 5 years More than 5 years Foreign currency Less than 1 year 1 - 2 years More than 2 - 5 years
65,274,305
(65,613,771,900 ) 6,133,646,853,577
2012
2,257,767,300,656 713,147,801,187 2,629,342,200,000 10,753,000,000
2,129,538,956,223 1,117,513,052,756 2,944,574,828,257 4,914,000,000
5,611,010,301,843
6,196,540,837,236
2,044,560,000
1,769,826,998 949,961,243 -
Total funds of qardh Allowance for possible losses
2,044,560,000 5,613,054,861,843 (58,316,069,764)
2,719,788,241 6,199,260,625,477 (65,613,771,900)
Net
5,554,738,792,079
6,133,646,853,577
47
PT Bank Syariah Mandiri
385
Annual Report 2013
INDEPENDENT AUDITOR’S REPORT APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language
DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI NOTES TO FINANCIAL STATEMENTS POSITION SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________
8. FUNDS OF QARDH (continued) d. Remaining Period to Maturity 2013 Rupiah Less than 1 year 1 - 2 years More than 2 - 5 years More than 5 years Foreign currency Less than 1 year 1 - 2 years More than 2 - 5 years
2012
3,896,603,837,843 1,213,620,064,000 500,786,400,000 -
3,498,212,343,143 725,427,000,000 1,972,523,494,093 378,000,000
5,611,010,301,843
6,196,540,837,236
2,044,560,000
2,719,788,241 -
2,044,560,000
2,719,788,241
Total funds of qardh Allowance for possible losses
5,613,054,861,843 (58,316,069,764)
6,199,260,625,477 (65,613,771,900)
Net
5,554,738,792,079
6,133,646,853,577
e. Other Significant Information (i) The ratios of non-performing funds of qardh gross and net as of December 31, 2013 are 0.36% and 0.13% (2012: 0.27% and 0.06%). (ii) Qardh receivables are generally secured by registered mortgages, powers of attorney to mortgage or sell, time deposits, and other guarantees accepted by the Bank. Total mudharabah deposits pledged as collateral are disclosed in Note 23. (iii) Summary of changes in allowance for possible losses funds of qardh are as follows: 2013 Rupiah
Foreign Currency
Total
Balance at beginning of year Reversal during the year Written-off during the year Exchange rate differences
64,866,775,042 (4,656,540,800) (1,914,610,078) -
746,996,858 (922,843,818) 196,292,560
65,613,771,900 (5,579,384,618) (1,914,610,078) 196,292,560
Balance at end of year
58,295,624,164
20,445,600
58,316,069,764
2012 Rupiah
Foreign Currency
Total
Balance at beginning of year Provision during the year Exchange rate differences
40,960,503,341 23,906,271,701 -
684,067,886 19,927,186 43,001,786
41,644,571,227 23,926,198,887 43,001,786
Balance at end of year
64,866,775,042
746,996,858
65,613,771,900
Management believes that the allowance for possible losses is adequate to cover possible losses from uncollectible funds of qardh and in compliance with Bank Indonesia regulation. 48
Annual Report 2013
386
PT Bank Syariah Mandiri
APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language
DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI NOTES TO FINANCIAL STATEMENTS POSITION SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________
9. MUDHARABAH FINANCING a. Based on Economic Sector, Currency, and Collectibility 2013 Current Rupiah Business services Social services Agriculture Trading Manufacturing Transportation and communication Construction Electricity, gas and water Mining Others Total mudharabah financing Allowance for possible losses Net
Special Mention
Substandard
Doubtful
Loss
Total
3,280,777,412,754 125,171,023,289 44,719,612,146 18,724,445,814 2,637,922,480
75,396,571,516 16,356,539,645 30,227,159 -
14,725,726,812 63,093,014 -
60,420,480,202 -
137,173,620,200 859,508,356 301,991,690 -
3,568,493,811,484 142,450,164,304 44,719,612,146 19,056,664,663 2,637,922,480
3,829,767,724 5,103,883,837 538,574,561 456,951,242 117,140,559,671
4,336,092,408
-
-
-
3,829,767,724 5,103,883,837 538,574,561 456,951,242 121,476,652,079
3,599,100,153,518
96,119,430,728
14,788,819,826
60,420,480,202
138,335,120,246
3,908,764,004,520
(4,804,460,178 )
(2,140,133,500 )
(29,312,738,635 )
(133,496,109,308 )
91,314,970,550
12,648,686,326
(35,312,665,056 ) 3,563,787,488,462
31,107,741,567
4,839,010,938
(205,066,106,677 ) 3,703,697,897,843
2012 Current Rupiah Business services Social services Agriculture Trading Manufacturing Transportation and communication Construction Electricity, gas and water Mining Total mudharabah financing Allowance for possible losses Net
Special Mention
Substandard
Doubtful
Loss
Total
3,875,566,518,213 154,774,259,797 40,823,299,571 9,569,441,113 2,902,915,994
95,985,167,126 1,454,956,918 624,380,126 179,139,491
15,947,366,609 248,103,317 5,381,500,000 -
8,794,866,947 1,064,159,700 49,251,125 -
53,695,285,594 3,972,584,919 1,042,418,736 -
4,049,989,204,489 161,514,064,651 40,823,299,571 16,666,991,100 3,082,055,485
985,762,153 328,663,023 178,070,471 174,768,357
-
-
-
17,238,627 -
985,762,153 345,901,650 178,070,471 174,768,357
4,085,303,698,692
98,243,643,661
21,576,969,926
9,908,277,772
58,727,527,876
4,273,760,117,927
(4,909,691,583 )
(3,236,545,489 )
(4,735,807,549 )
(58,697,953,240 )
93,333,952,078
18,340,424,437
(40,679,350,543 ) 4,044,624,348,149
5,172,470,223
29,574,636
(112,259,348,404 ) 4,161,500,769,523
b. Financing Period (based on agreements) 2013
2012
Rupiah Less than 1 year 1 - 2 years More than 2 - 5 years More than 5 years
42,968,979,588 154,774,895,750 2,323,347,338,362 1,387,672,790,820
31,616,297,406 161,566,383,093 3,013,141,538,135 1,067,435,899,293
Total mudharabah financing Allowance for possible losses
3,908,764,004,520 (205,066,106,677)
4,273,760,117,927 (112,259,348,404)
Net
3,703,697,897,843
4,161,500,769,523
49
PT Bank Syariah Mandiri
387
Annual Report 2013
INDEPENDENT AUDITOR’S REPORT APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language
DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI NOTES TO FINANCIAL STATEMENTS POSITION SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________
9. MUDHARABAH FINANCING (continued) c. Remaining Period to Maturity 2013
2012
Rupiah Less than 1 year 1 - 2 years More than 2 - 5 years More than 5 years
601,913,904,490 886,077,002,661 2,227,421,008,795 193,352,088,574
474,337,407,202 951,905,297,466 2,487,117,678,177 360,399,735,082
Total mudharabah financing Allowance for possible losses
3,908,764,004,520 (205,066,106,677)
4,273,760,117,927 (112,259,348,404)
Net
3,703,697,897,843
4,161,500,769,523
d. Related parties 2013
2012
Third parties Related parties (Note 38)
3,811,274,743,281 97,489,261,239
4,065,217,157,991 208,542,959,936
Total mudharabah
3,908,764,004,520
4,273,760,117,927
e. Other Significant Information (i) Percentage of profit sharing for mudharabah financing was ranging from 11.81% to 14.03% per annum for 2013 and 13.18% to 18.69% per annum for 2012. (ii) The ratio of non-performing mudharabah financing-gross and net as of December 31, 2013 was 5.46% and 1.24% (2012: 2.11% and 0.55%). (iii) Mudharabah financing receivables are generally secured by registered mortgages, powers of attorney to mortgage or sell, time deposits, and other guarantees accepted by the Bank. Total mudharabah deposits pledged as collateral are disclosed in Note 23. (iv) Summary of changes in allowance for possible losses of mudharabah financing are as follows: 2013 Rupiah
Foreign Currency
Total
Balance at beginning of year Provision during the year Written-off during the year
112,259,348,404 117,832,318,184 (25,025,559,911)
-
112,259,348,404 117,832,318,184 (25,025,559,911)
Balance at end of year
205,066,106,677
-
205,066,106,677
2012 Rupiah Balance at beginning of year Provision during the year Balance at end of year
Foreign Currency
Total
80,359,109,429 31,900,238,975
-
80,359,109,429 31,900,238,975
112,259,348,404
-
112,259,348,404
50
Annual Report 2013
388
PT Bank Syariah Mandiri
APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language
DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI NOTES TO FINANCIAL STATEMENTS POSITION SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________
9. MUDHARABAH FINANCING (continued) e. Other Significant Information (continued) Management believes that the allowance for possible losses is adequate to cover possible losses from uncollectible mudharabah financing and in compliance with Bank Indonesia regulation. 10. MUSYARAKAH FINANCING a. Based on Economic Sector, Currency, and Collectibility 2013 Current Rupiah Contruction 654,201,405,720 Trading 958,400,267,822 Business services 3,995,346,487,301 Manufacturing 485,227,483,861 Agriculture 118,505,163,637 Transportation and communication 88,334,192,432 Mining 100,692,224,962 Social service 11,545,071,748 Electricity, gas, and water 22,219,059,763 Others 18,297,586,858
Foreign currency Mining Trading Construction Business services Manufacturing Total musyarakah financing Allowance for possible losses Net
Special Mention
Substandard
Doubtful
Loss
Total
41,031,898,488 109,001,646,903 95,901,873,221 5,474,779,236 1,444,987,368
7,701,403,474 24,303,263,951 61,223,902,940 237,000,000 3,126,557,497
6,304,670,654 6,073,681,099 26,272,232,012 959,009,337 1,650,854,559
31,412,604,741 25,884,928,336 200,875,794,038 17,787,050,010 4,583,985,363
740,651,983,077 1,123,663,788,111 4,379,620,289,512 509,685,322,444 129,311,548,424
9,250,250,662 19,774,378,338 1,108,715,407
690,000,000 13,974,873,464
214,325,184 927,291,416 80,000,000
3,172,363,801 632,487,107 1,559,353,992
100,971,132,079 122,716,381,823 28,268,014,611
447,737,813
-
-
-
22,219,059,763 18,745,324,671
6,452,768,944,104
283,436,267,436
111,257,001,326
42,482,064,261
285,908,567,388
7,175,852,844,515
19,228,600,000 62,244,031,148 1,000,643,687 4,700,850,000 37,894,337,500
20,284,461,533 16,919,624,479 -
-
-
-
39,513,061,533 62,244,031,148 17,920,268,166 4,700,850,000 37,894,337,500
125,068,462,335
37,204,086,012
-
-
6,577,837,406,439
320,640,353,448
111,257,001,326
42,482,064,261
285,908,567,388
(10,726,871,500 )
(13,049,715,222 )
(17,282,583,966 )
(184,768,965,937 )
98,207,286,104
25,199,480,295
101,139,601,451
(63,590,230,671 ) 6,514,247,175,768
309,913,481,948
-
162,272,548,347 7,338,125,392,862 (289,418,367,296 ) 7,048,707,025,566
2012 Current Rupiah Construction Trading Business services Manufacturing Agriculture Transportation and communication Mining Social services Electricity, gas, and water
Foreign currency Mining Trading Transportation and communication Construction Business services Industries Total musyarakah financing Allowance for possible losses Net
Special Mention
Substandard
Doubtful
Loss
1,133,856,945,653 1,198,496,554,827 2,281,113,899,742 486,781,130,819 180,765,470,122
40,061,208,413 106,820,200,106 60,460,741,366 10,294,535,048 18,756,632,717
7,975,391,034 22,067,755,828 32,748,465,023 1,600,522,639 13,688,080,961
5,271,367,129 11,099,770,391 9,158,858,423 1,410,338,642 3,933,814,613
97,788,932,699 40,035,389,883 22,013,639,316 69,489,887,048 4,157,825,851
1,284,953,844,928 1,378,519,671,035 2,405,495,603,870 569,576,414,196 221,301,824,264
81,769,255,566 48,719,315,827 53,451,327,538
6,366,649,753 27,428,642,603 20,356,177,953
260,000,000 205,627,271 147,265,121
439,723,976 10,099,718,048 -
1,225,000,000 270,677,734
90,060,629,295 86,453,303,749 74,225,448,346
12,629,531,036
-
-
-
-
12,629,531,036
5,477,583,431,130
290,544,787,959
78,693,107,877
41,413,591,222
234,981,352,531
6,123,216,270,719
56,525,115,684 63,294,687,085
-
-
-
-
56,525,115,684 63,294,687,085
28,912,500,000 17,738,326,646 18,291,165,450 28,790,705,997
-
-
-
-
28,912,500,000 17,738,326,646 18,291,165,450 28,790,705,997
213,552,500,862
-
-
-
-
213,552,500,862
5,691,135,931,992
290,544,787,959
78,693,107,877
41,413,591,222
234,981,352,531
6,336,768,771,581
(11,149,932,107 )
(15,614,800,247 )
(194,169,822,914 )
67,543,175,770
25,798,790,975
40,811,529,617
(53,812,868,929 ) 5,637,323,063,063
(12,954,357,457 ) 277,590,430,502
51
PT Bank Syariah Mandiri
Total
389
Annual Report 2013
(287,691,781,654 ) 6,049,076,989,927
INDEPENDENT AUDITOR’S REPORT These report is originally issued in the Indonesian language
APPROVAL FOR PRINTING DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI NOTES TO FINANCIAL STATEMENTS POSITION SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________
10. MUSYARAKAH FINANCING (continued) b. Financing Period (based on agreements) 2013 Rupiah Less than 1 year 1 - 2 years More than 2 - 5 years More than 5 years
2012
2,453,209,707,164 2,098,617,480,452 2,479,810,772,053 144,214,884,846
3,057,960,010,155 1,670,756,279,288 1,221,617,213,467 172,882,767,809
7,175,852,844,515
6,123,216,270,719
21,063,166,771 24,284,565,042 67,027,816,534 49,897,000,000
46,626,593,634 36,319,317,645 101,694,089,583 28,912,500,000
162,272,548,347
213,552,500,862
Total musyarakah financing Allowance for possible losses
7,338,125,392,862 (289,418,367,296)
6,336,768,771,581 (287,691,781,654)
Net
7,048,707,025,566
6,049,076,989,927
Foreign currency less than 1 year 1 - 2 years More than 2 - 5 years More than 5 years
c. Remaining Period to Maturity 2013 Rupiah Less than 1 year 1 - 2 years More than 2 - 5 years More than 5 years
2012
5,997,058,279,281 372,468,452,881 776,245,812,512 30,080,299,841
5,238,836,214,049 414,967,497,136 440,725,820,079 28,686,739,455
7,175,852,844,515
6,123,216,270,719
82,493,425,190 28,783,498,678 50,995,624,479
123,100,128,956 48,588,805,500 41,863,566,406
162,272,548,347
213,552,500,862
Total musyarakah financing Allowance for possible losses
7,338,125,392,862 (289,418,367,296)
6,336,768,771,581 (287,691,781,654)
Net
7,048,707,025,566
6,049,076,989,927
Foreign currency Less than 1 year More than 1 - 2 years More than 2 - 5 years
d. Related Parties 2013
2012
Third parties Related parties (Note 38)
7,197,696,504,980 140,428,887,882
6,132,965,757,581 203,803,014,000
Total musyarakah financing
7,338,125,392,862
6,336,768,771,581
52
Annual Report 2013
390
PT Bank Syariah Mandiri
APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language
DATE
: ______________________________
NAME
: ______________________________
PT BANK SYARIAH MANDIRI NOTES TO FINANCIAL STATEMENTS POSITION SIGNATURE Years ended December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________
10. MUSYARAKAH FINANCING (continued) e. Other Significant Information (i) Percentage of profit sharing for musyarakah financing in Rupiah was ranging from 2.62% to 14.32% per annum for 2013 and ranging from 10.57% to 12.98% per annum for 2012, whereas for the foreign currency was ranging from 1.29% to 10.20% per annum for 2013 and ranging from 2.01% to 10.04% per annum for 2012. (ii) The ratio of non-performing musyarakah financing - gross and net as of December 31, 2013 was 5.99% and 3.06% (2012: 5.60% and 2.12%). (iii) Musyarakah financing receivables are generally secured by registered mortgages, powers of attorney to mortgage or sell mudharabah time deposits or other guarantees accepted by the Bank. Total mudharabah time deposits pledged as collateral are disclosed in Note 23. (iv) Summary of changes in allowance for possible losses of musyarakah financing is as follows: 2013 Rupiah Balance at beginning of year Provision during the year Written-off during the year Exchange rate differences Balance at end of year
Foreign Currency
Total
285,619,237,657 426,452,737,959 (425,700,504,232) -
2,072,543,997 429,737,888 544,614,027
287,691,781,654 426,882,475,847 (425,700,504,232) 544,614,027
286,371,471,384
3,046,895,912
289,418,367,296
2012 Rupiah
Foreign Currency
Total
Balance at beginning of year Provision during the year Written-off during the year Exchange rate differences
314,735,385,569 34,875,154,595 (63,991,302,507) -
1,293,121,962 698,133,971 81,288,064
316,028,507,531 35,573,288,566 (63,991,302,507) 81,288,064
Balance at end of year
285,619,237,657
2,072,543,997
287,691,781,654
Management believes that the allowance for possible losses is adequate to cover possible losses from uncollectible musyarakah financing and in compliance with Bank Indonesia regulation. 11. ASSETS ACQUIRED FOR IJARAH This account represents rental objects of ijarah muntahiyah bittamlik transactions with an option to transfer ownership of assets with details as follows: 2013 2012 Vehicles Multi-services Machinery and installations Aeroplanes Others Total Accumulated depreciation and amortization Net
121,795,845,028 10,311,528,808 140,331,032,418 36,510,000,000 147,602,612,515
77,491,245,644 54,106,667,252 49,717,454,299 28,912,500,000 165,014,657,239
456,551,018,769 (188,998,967,103)
375,242,524,434 (183,778,073,094)
267,552,051,666
191,464,451,340
53
PT Bank Syariah Mandiri
391
Annual Report 2013
INDEPENDENT AUDITOR’S REPORT APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language.
DATE
PT BANK SYARIAH MANDIRI NAME NOTES TO FINANCIAL STATEMENTS POSITION Years ended SIGNATURE December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________ : ______________________________ : ______________________________
11. ASSETS ACQUIRED FOR IJARAH (continued) Ijarah multi-services mostly represent ijarah financing for educational purposes. Depreciation and amortization charged to statements of comprehensive income amounted to Rp145,490,408,247 and Rp232,564,177,072, respectively, for the years ended December 31, 2013 and 2012 (Note 29). 12. FIXED ASSETS 2013 January 1 Acquisition Cost Land rights Building Installation Motor vehicles Office equipment
Accumulated Depreciation Building Installation Motor vehicles Office equipment
Net Book Value
Addition
Deduction
December 31
99,928,444,619 43,319,272,437 164,095,734,227 148,460,749,125 752,078,903,743
32,612,804,400 5,300,087,268 14,187,626,070 34,363,511,916 147,526,466,650
2,619,281,916 3,111,215,000 571,261,054
132,541,249,019 46,000,077,789 178,283,360,297 179,713,046,041 899,034,109,339
1,207,883,104,151
233,990,496,304
6,301,757,970
1,435,571,842,485
14,128,331,797 95,593,499,280 62,870,810,719 291,692,092,416
2,355,707,217 20,198,658,553 29,291,398,342 135,439,570,912
333,036,329 2,965,013,318 571,261,015
16,151,002,685 115,792,157,833 89,197,195,743 426,560,402,313
464,284,734,212
187,285,335,024
3,869,310,662
647,700,758,574
743,598,369,939
787,871,083,911
2012 January 1 Acquisition Cost Land rights Building Installation Motor vehicles Office equipment
Accumulated Depreciation Building Installation Motor vehicles Office equipment
Net Book Value
Addition
Deduction
December 31
99,915,444,619 40,952,200,365 130,448,518,192 124,136,514,323 448,619,000,342
13,000,000 3,340,654,697 33,647,216,035 30,984,338,302 304,437,946,749
973,582,625 6,660,103,500 978,043,348
99,928,444,619 43,319,272,437 164,095,734,227 148,460,749,125 752,078,903,743
844,071,677,841
372,423,155,783
8,611,729,473
1,207,883,104,151
12,202,232,154 77,349,578,233 45,296,523,909 198,160,254,341
2,394,742,800 18,712,564,203 24,224,900,262 94,031,833,231
468,643,157 468,643,156 6,650,613,452 499,995,156
14,128,331,797 95,593,499,280 62,870,810,719 291,692,092,416
333,008,588,637
139,364,040,496
8,087,894,921
464,284,734,212
511,063,089,204
743,598,369,939
All of the landrights owned by the Bank are the rights to use (HGB) with remaining periods ranging from 3 months to 18 years and can be extended upon their expiration.
54
Annual Report 2013
392
PT Bank Syariah Mandiri
APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language.
DATE
PT BANK SYARIAH MANDIRI NAME NOTES TO FINANCIAL STATEMENTS POSITION Years ended SIGNATURE December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________ : ______________________________ : ______________________________
12. FIXED ASSETS (continued) The details of fixed assets sold are as follows: 2013
2012
Proceeds from sale of fixed assets Book value
1,617,545,759 (146,201,721)
4,183,479,735 (523,834,552)
Gain on sales of fixed assets
1,471,344,038
3,659,645,183
Certain fixed assets were insured against the fire and other risks under insurance policies with PT Tugu Pratama Indonesia and PT Asuransi Takaful Umum with total insured amounting to Rp1,296,910,017,545 and Rp806,714,229,823 for the year ended December 31, 2013 and 2012. The Bank’s management believes that the insurance coverage is sufficient to cover the possible of losses. Based on the Bank’s management review, there is no indication of impairment in value of fixed assets owned by the Bank. 13. OTHER ASSETS 2013 Rupiah Prepaid expenses: Building rental Building renovation Software maintenance New branch opening Others Domestic usance letter of credit (SKBDN) receivable from customer Usance import letter of credit Clearing transfer receivables Accrued income of financing Office supplies Accrued income of rahn Suspense account new CBS third party funds Accrued income of marketable securities Suspense account new CBS - financing Income tax receivables art 25/29 (Note 18 b) Security deposits ATM Prima receivables Others
Foreign Currency
Total
239,580,305,415 233,201,591,298 19,614,759,416 10,771,263,864 43,666,681,969
514,351,420
239,580,305,415 233,201,591,298 19,614,759,416 10,771,263,864 44,181,033,389
127,384,245,660 109,885,150,633 77,184,029,019 46,876,430,063 36,547,971,675
30,798,818,345 138,638,941,587 986,131,571 23,582,052 -
158,183,064,005 138,638,941,587 110,871,282,204 77,207,611,071 46,876,430,063 36,547,971,675
21,831,089,956 31,571,994,888 22,069,717,844
13,071,694,336 2,522,998,845
34,902,784,292 31,571,994,888 24,592,716,689
12,941,165,088 8,890,671,760 7,034,488,697 176,813,930,363
198,577,890 11,621,771,110
12,941,165,088 9,089,249,650 7,034,488,697 188,435,701,473
Total Allowance for possible losses on Suspense account CBS baru third party funds
1,225,865,487,608
198,376,867,156
1,424,242,354,764
(13,071,694,336)
(34,902,784,292)
Net
1,204,034,397,652
185,305,172,820
1,389,339,570,472
(21,831,089,956)
55
PT Bank Syariah Mandiri
393
Annual Report 2013
INDEPENDENT AUDITOR’S REPORT These report is originally issued in the Indonesian language.
APPROVAL FOR PRINTING DATE
PT BANK SYARIAH MANDIRI NAME NOTES TO FINANCIAL STATEMENTS POSITION Years ended SIGNATURE December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________ : ______________________________ : ______________________________
13. OTHER ASSETS (continued) 2012 Rupiah Prepaid expenses: Building rental Building renovation New branch opening Software maintenance Implementation of new Core Banking System (CBS) Others Suspense account new CBS Domestic usance letter of credit (SKBDN) receivable from customer Accrued income of Marketable Securities ATM Prima receivables Accrued income of rahn Security deposits Usance import letter of credit Others
Foreign Currency
Total
268,150,874,423 247,681,622,010 32,031,181,477 15,483,897,523
-
268,150,874,423 247,681,622,010 32,031,181,477 15,483,897,523
23,194,751,693 38,228,933,521 232,686,096,173
305,448,612 -
23,194,751,693 38,534,382,133 232,686,096,173
74,462,306,617 42,494,275,455 35,463,492,115 31,222,764,718 8,384,945,565 15,697,326,101
22,964,974,678 24,654,322 157,255,088 62,161,364,739 3,951,426,792
97,427,281,295 42,494,275,455 35,488,146,437 31,222,764,718 8,542,200,653 62,161,364,739 19,648,752,893
Total Allowance for possible losses on other receivables
1,065,182,467,391
89,565,124,231
1,154,747,591,622
-
(6,000,000,000)
Net
1,059,182,467,391
89,565,124,231
1,148,747,591,622
(6,000,000,000)
Receivable from ATM Prima represents receivable from usance of Bank’s Automated Teller Machine (ATM) network by other banks’ customers included in ATM Prima network. Other assets as of December 31, 2012 includes Bank’s claims to PT Sari Indo Prima (SIP) as the settlement of legal cases related to the mudharabah muqayyadah financing - Dana Pensiun Angkasa Pura II (Dapenda). On November 3, 2009, The Bank, DAPENDA and SIP signed a peace agreement which state that the Bank and SIP agreed to pay the principal of financing to DAPENDA amounted Rp10,000,000,000 (ten billion Rupiah) in accordance with the BASYARNAS decision. The payments was charged to the Bank and SIP as a joint responsibility. In accordance with the agreement signed on October 15, 2009, SIP acknowledged obligations to the Bank in accordance with the amount paid by the Bank to DAPENDA a maximum amount of Rp6,000,000,000 (six billion Rupiah) and the obligations will be incurred effectively at the time of the payment by the Bank to DAPENDA was implemented for 14 (fourteen) years, at the latest. In 2013, the Bank has decided to write off the claims to SIP. Suspense account is an open account arises due to the implementation and migration of data from the old system (Alphabids) into the new core banking system (iBSM) which has not been cleared until the statement of financial position dates. Suspense account consists of debit balance due to financing transactions amounting to Rp24,592,716,689 and suspense account related with third party fund transactions amounting to Rp34,902,784,293. The Bank also booked suspense with credit balance amounting to Rp42,320,984,231 (Note 21) which was presented as other liabilities. As of December 31, 2013 the Bank has provided allowance for possible losses for debit balance suspense account related with third party fund transactions amounting to Rp34,902,784,293. The Bank has not provide allowance for debit balance suspense account related to financing transactions since migration process of financing module to new system (iBSM) was not yet finished. The Bank's management believes that the allowance for possible losses are adequate.
56
Annual Report 2013
394
PT Bank Syariah Mandiri
APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language.
DATE
PT BANK SYARIAH MANDIRI NAME NOTES TO FINANCIAL STATEMENTS POSITION Years ended SIGNATURE December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________ : ______________________________ : ______________________________
13. OTHER ASSETS (continued) Summary of changes in allowance for possible losses of other receivables are as follows: 2013 Rupiah Balance at beginning of year Written-off during the year
Foreign Currency
6,000,000,000 (6,000,000,000)
Balance at end of year
Total -
-
6,000,000,000 (6,000,000,000)
-
-
Summary of changes in allowance for possible losses of suspense account new CBS - third party funds are as follows: 2013
Rupiah
Foreign Currency
Total
Balance at beginning of year Provision during the year
21,831,089,956
13,071,694,336
34,902,784,292
Balance at end of year
21,831,089,956
13,071,694,336
34,902,784,292
14. LIABILITIES DUE IMMEDIATELY 2013 Rupiah Third parties Bonus and tantiem provision for employees, board of directors, and board of commissioners Entrusted funds from customers Accrued expenses Cost of financing facility given payable Bank’s zakat Payables to notary Qardhul hasan funds Suspense account for payment to suppliers Payable to insurance companies ATM Bersama payable ATM Prima payable Provision for promotional expenses Zakat of employees’, customers’, and public Provision for profit sharing of subnotes issued Others
Related parties (Note 38) Liabilities from using Bank Mandiri’s ATM
Total
Foreign Currency
141,561,808,497 116,281,920,363 96,302,779,583 80,407,444,244 50,794,078,580 52,566,541,369 30,422,556,274 15,982,535,419 18,945,724,545 8,575,533,101 5,328,347,665 4,621,728,635 4,608,596,811
17,968,658,118 8,336,093,906 586,790,518 13,295,580,907 159,854 3,703,819
141,561,808,497 134,250,578,481 104,638,873,489 80,407,444,244 50,794,078,580 52,566,541,369 31,009,346,792 29,278,116,326 18,945,884,399 8,575,533,101 5,328,347,665 4,621,728,635 4,612,300,630
1,734,246,576 15,718,685,713
-
1,734,246,576 15,718,685,713
643,852,527,375
40,190,987,122
684,043,514,497
69,587,375,504
-
69,587,375,504
69,587,375,504
-
69,587,375,504
713,439,902,879
40,190,987,122
753,630,890,001
57
PT Bank Syariah Mandiri
Total
395
Annual Report 2013
INDEPENDENT AUDITOR’S REPORT APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language.
DATE
PT BANK SYARIAH MANDIRI NAME NOTES TO FINANCIAL STATEMENTS POSITION Years ended SIGNATURE December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________ : ______________________________ : ______________________________
14. LIABILITIES DUE IMMEDIATELY (continued) 2012 Rupiah Third parties Bonus and tantiem provision for employees, board of directors, and board of commissioners Entrusted funds from customers Accrued expenses Cost of financing facility given payable Bank’s zakat Payables to notary ATM Prima payable Payable to insurance companies ATM Bersama payable Import tax KPKN perception liabilities Provision for promotional expenses Qardhul hasan funds Provision for profit sharing of subnotes issued Suspense account for payment to suppliers Zakat of employees’, customers’, and public Others Related parties (Note 38) Liabilities from using Bank Mandiri’s ATM
Total
Foreign Currency
Total
145,345,825,631 131,810,559,848 94,338,582,647 52,930,071,420 47,309,407,355 37,035,011,666 36,052,643,927 21,667,241,663 9,119,588,900 4,899,537,690 4,621,728,635 3,320,890,590
2,927,289,579 142,708,336 63,296 116,770,910
145,345,825,631 134,737,849,427 94,481,290,983 52,930,071,420 47,309,407,355 37,035,011,666 36,052,643,927 21,667,304,959 9,119,588,900 4,899,537,690 4,621,728,635 3,437,661,500
1,701,474,318
-
1,701,474,318
1,617,991,377 1,300,914,976 16,601,691,297
20,688,649,888 2,036,789 -
22,306,641,265 1,302,951,765 16,601,691,297
609,673,161,940
23,877,518,798
633,550,680,738
112,812,995,821
-
112,812,995,821
112,812,995,821
-
112,812,995,821
722,486,157,761
23,877,518,798
746,363,676,559
Movements in provisions for employees, board of directors, and board of commisioners are as follows: 2013 Balance at beginning of year Provision during the year Payment during the year Balance at end of year
2012
145,345,825,631 133,664,769,216 (137,448,786,350)
246,658,111,087 127,577,551,540 (228,889,836,996)
141,561,808,497
145,345,825,631
Provision for employees, board of directors, and board of commissioners represents accruals for quarterly divisional performance bonus, accruals for year end bonus, and accrual for tantiem of board of directors and board of commissioners. Entrusted funds from customers represents deposit from customer that has not been distributed by the Bank. As of December 31, 2013 and 2012, this account includes deposit of mudharabah muqayyadah channeling fund amounting to Rp7,886,634,244 and Rp7,540,699,959, respectively. Bank’s zakat represents the Bank’s zakat payable which calculated based on income before tax (Note 41) Suspense account for payment to suppliers represents deposits or the Bank’s liabilities for procurement of goods and services. 58
Annual Report 2013
396
PT Bank Syariah Mandiri
APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language.
DATE
PT BANK SYARIAH MANDIRI NAME NOTES TO FINANCIAL STATEMENTS POSITION Years ended SIGNATURE December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________ : ______________________________ : ______________________________
14. LIABILITIES DUE IMMEDIATELY (continued) Employees’, customers’, and public’ zakat represents account for entrusted zakat, infaq, and shadaqah from these parties. Payable to notary represents deposit from debtors for notary fee in regards of financing transactions which has not been paid yet to the notary by the Bank. Payable to insurance companies represents deposit from debtors for insurance premium in regards of financing transactions which has not been paid yet to insurance companies by the Bank. Qardhul hasan funds represents penalty income receipt from financing debtors and income from current accounts with non-syariah banks. Non-halal income from current accounts with non-syariah banks amounting to Rp191,243,336 and Rp453,611,371 as of December 31, 2013 and 2012, respectively. Liabilities from using Bank Mandiri’s ATM represent liabilities due to the Bank’s customers using Automated Teller Machine (ATM) network of PT Bank Mandiri (Persero) Tbk. ATM Prima payable and ATM Bersama represent liabilities arising from the Bank’s customers using ATM Prima and ATM Bersama network. Provision for promotion represents accrual for expenses related to the Bank’s promotion activities. Liabilities from financing facility cost payable represent deposit from debtors for expenses related to their financing granting process such as for appraisal, stamp duty, audit, and others. Provision for profit sharing of subnotes issued represents accrual for profit sharing expenses to the holder of subnotes issued. Accrued expenses represents payable to third party over utilities cost such as electricity, water, and phone. 15. UNDISTRIBUTED THIRD PARTIES’ SHARE ON RETURN OF TEMPORARY SYIRKAH FUNDS AND BONUS WADIAH 2013 Non-Bank Rupiah Demand deposits Time deposits Saving deposits Foreign currency Demand deposits Time deposits
2,729,422 56,281,187,606 479,965
724,535,822 36,797,985,185 932,230
56,284,396,993
37,523,453,237
561,326,646
1,878,830,744 344,636,905
561,326,646
2,223,467,649
56,845,723,639
39,746,920,886
59
PT Bank Syariah Mandiri
397
2012
Annual Report 2013
INDEPENDENT AUDITOR’S REPORT APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language.
DATE
PT BANK SYARIAH MANDIRI NAME NOTES TO FINANCIAL STATEMENTS POSITION Years ended SIGNATURE December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________ : ______________________________ : ______________________________
15. UNDISTRIBUTED THIRD PARTIES’ SHARE ON RETURN OF TEMPORARY SYIRKAH FUNDS AND BONUS WADIAH (continued) Bank Rupiah Demand deposits Time deposits
Total
2013
2012
4,870,732 114,835,818
4,679,399 201,215,528
119,706,550
205,894,927
56,965,430,189
39,952,815,813
16. WADIAH DEPOSITS 2013 a. Wadiah Demand Deposits Third parties Rupiah Foreign currencies
Related parties (Note 38) Rupiah Foreign currencies
b. Wadiah Saving Deposits Third parties Rupiah
Related parties (Note 38) Rupiah
Total
2012
5,941,924,101,142 1,420,898,770,799
5,205,923,312,826 1,181,579,384,715
7,362,822,871,941
6,387,502,697,541
141,671,550,575 2,892,202,691
43,127,551,625 281,665,176
144,563,753,266
43,409,216,801
1,607,829,438,489
901,347,921,061
1,607,829,438,489
901,347,921,061
120,826,446
176,401,832
120,826,446
176,401,832
9,115,336,890,142
7,332,436,237,235
Wadiah deposits represent wadiah yad-dhamanah demand deposits from other parties which, on the basis of the Bank’s policy, will earn bonus. Bonus of wadiah deposit in Rupiah was ranging from 0.72% to 1.95% per annum in 2013 and ranging from 0.75% to 2.48% per annum in 2012. Bonus of wadiah deposit in foreign currencies was ranging from 0.17% to 0.87% per annum in 2013 and 0.19% to 0.68% per annum in 2012.
60
Annual Report 2013
398
PT Bank Syariah Mandiri
APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language.
DATE
PT BANK SYARIAH MANDIRI NAME NOTES TO FINANCIAL STATEMENTS POSITION Years ended SIGNATURE December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated) 17. DEPOSITS FROM OTHER BANKS
2013
: ______________________________ : ______________________________ : ______________________________ : ______________________________
2012
Third parties Rupiah Wadiah demand deposits
27,681,869,683
31,585,080,325
Related parties (Note 38) Rupiah Wadiah demand deposits
517,195,092
6,391,071,948
28,199,064,775
37,976,152,273
Total
Wadiah demand deposits represent demand deposits from other banks in wadiah yad-dhamanah agreement which, on the basis of the Bank’s policy, will earn bonus. Bonus of wadiah demand deposits in Rupiah was ranging from 0.72% to 0.87% per annum in 2013 and ranging from 0.75% to 1.10% per annum in 2012. 18. TAXATION
2013
a. Taxes payable consists of: Income tax article 25/29 Income tax article 4 (2) Income tax article 21 Income tax article 23 Income tax article 26 Value Added Tax (VAT) Total
2012
37,570,415,617 8,609,410,918 995,567,794 5,144,027 -
73,885,467,313 29,271,024,657 7,829,471,731 1,178,931,678 299,364,498
47,180,538,356
112,464,259,877
b. The reconciliation between income before income tax benefit/(expense) and the taxable income and corporate income tax expense for the years ended December 31, 2013 and 2012 is as follows: 2013 Income before income tax benefit/(expense) Temporary differences: Provision/(reversal) for possible losses on: Current account with other bank Placements with other banks Investment in marketable securities (Deficiency)/excess of allowance for possible losses on financing Estimated losses on commitments and contingencies (Reversal)/provision for possible losses on operational risk Post and long-term employment benefits expense Depreciation of fixed assets Bonus provision Provision for possible losses on non-productive assets Provision for tantiem Total temporary differences
883,836,421,815
399
1,097,132,642,834
3,726,573,179 (1,200,000,000) (652,416,170)
(3,697,162,712) (116,075,000) 70,928,394,245
(35,758,834,498)
57,831,561,681
(1,660,101,530)
193,089,407
(20,449,275)
1,000,000,000
56,227,135,413 (20,279,000,760) 39,194,423,822
43,058,682,187 (7,385,165,385) (45,176,348,705)
28,902,784,293 24,999,846,143
-
93,479,960,617
116,636,975,718
61
PT Bank Syariah Mandiri
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Annual Report 2013
INDEPENDENT AUDITOR’S REPORT APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language.
DATE
PT BANK SYARIAH MANDIRI NAME NOTES TO FINANCIAL STATEMENTS POSITION Years ended SIGNATURE December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________ : ______________________________ : ______________________________
18. TAXATION (continued) b. The reconciliation between income before income tax benefit/(expense) and the taxable income and corporate income tax expense for the years ended December 31, 2013 and 2012 is as follows: (continued) 2013
2012
Permanent differences: Employees’ gifts Depreciation of fixed assets Representation Vehicle’s rent Housing rent Membership Non-operational expense Others
584,660,432 14,722,324,074 10,189,520,806 2,101,740,000 7,454,948,292 4,390,424,753 193,835,964 6,911,053,272
15,832,259,344 12,203,229,410 10,436,367,217 10,701,828,412 6,639,702,183 4,271,518,609 339,935,624 8,210,844,318
Total permanent differences
46,548,507,593
68,635,685,117
140,028,468,210
185,272,660,835
1,023,864,890,025
1,282,405,303,669
Total fiscal corrections Taxable income Corporate income tax expense Prepaid tax article – 25 Income tax (receivable)/payable article 25/29
255,966,222,500 (268,907,387,588)
320,601,325,750 (246,715,858,437)
(12,941,165,088)
73,885,467,313
The Bank will report the same amount of income tax expense as stated above in the tax return for the year 2013. c.
The reconciliation between the Bank’s income tax expense with the calculation of the accounting income before income tax benefit/(expense) and prevailing tax rate is as follows: 2013 883,836,421,815
2012
Income before income tax benefit/(expense) Income tax expense calculated from income before income tax benefit/(expense) Effect of tax on permanent differences
1,097,132,642,834
(220,959,105,454) (11,637,126,891)
(274,283,160,542) (17,158,921,279)
Tax expense - net
(232,596,232,345)
(291,442,081,821)
d. Component of income tax benefit/(expense): 2013
2012
Income tax benefit/(expense): Current tax expense Deferred tax benefit
(255,966,222,500) 23,369,990,155
(320,601,325,750) 29,159,243,929
Tax expense - net
(232,596,232,345)
(291,442,081,821)
62
Annual Report 2013
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PT Bank Syariah Mandiri
APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language.
DATE
PT BANK SYARIAH MANDIRI NAME NOTES TO FINANCIAL STATEMENTS POSITION Years ended SIGNATURE December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________ : ______________________________ : ______________________________
18. TAXATION (continued) e. Deferred tax assets consist of:
2013
Deferred tax assets: Provision for possible losses on earning assets Provision for post and long-term employment benefits Provision for possible losses on operational risks Estimated losses on commitments and contingencies Allowance for possible losses on non-productive assets Provision for bonus Provision for tantiem Unrealized gain / (loss) on availablefor-sale securities
60,246,232,986
68,717,402,358
40,415,089,135
26,358,305,282
5,125,561,933
5,130,674,252
295,795,144
710,820,527
8,725,696,073 29,140,490,589 6,249,961,536
1,500,000,000 19,341,884,633 -
148,676,640 150,347,504,036
Deferred tax liabilities: Fixed assets
(4,738,599,092)
Deferred tax assets - net
2012
145,608,904,944
(87,930,758) 121,671,156,294 331,151,098 122,002,307,392
The utilization of deferred tax assets recognized by the Bank is dependent upon future taxable income arising from the reversal of existing taxable temporary differences. 19. FINANCING RECEIVED 2013
2012
Mortgage facility PT Sarana Multigriya Finansial (Persero)
600,000,000,000
600,000,000,000
Total
600,000,000,000
600,000,000,000
On October 3, 2011, the Bank (Mudharib) and PT Sarana Multigriya Finansial (Persero) (Shahibul Mal) has entered into a mudharabah wal murabahah financing agreement which will be matured within 3 (three) years from the date of financing amounted Rp300,000,000,000. The financing is intended to support the Bank’s working capital in mortgage financing to debtors using murabahah or musyarakah mutanaqishah principles. Agreed revenue sharing is 65% for Shahibul Mal and 35% for Mudharib from gross income received by Mudharib before deducting by related costs. The financing disbursement will be paid in two phases, each amounted Rp100,000,000,000 and Rp200,000,000,000 starting from October 3, 2011 and October 18, 2011, meanwhile revenue sharing will be paid monthly starting from November 2011. On December 29, 2011, PT SMF gave additional facility to the Bank for 3 (three) years period from the date of financing amounting to Rp300,000,000,000 with the purposes to support the Bank’s working capital in mortgage financing to debtors using murabahah or musyarakah mutanaqishah principles. Agreed revenue sharing is 62% for Shahibul Mal and 38% for Mudharib from gross income received by Mudharib before deducting by related costs. The financing disbursement will be disbursed in two phases, each amounted Rp150,000,000,000 on December 29, 2011 and January 30, 2012, respectively. Revenue sharing will be paid monthly starting from January 2012. 63
PT Bank Syariah Mandiri
401
Annual Report 2013
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These report is originally issued in the Indonesian language.
DATE
PT BANK SYARIAH MANDIRI NAME NOTES TO FINANCIAL STATEMENTS POSITION Years ended SIGNATURE December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________ : ______________________________ : ______________________________
20. ESTIMATED LOSSES ON COMMITMENTS AND CONTINGENCIES This account represents estimated losses on commitments and contingencies which consist of: 2013
2012
Bank guarantees issued Outstanding irrevocable letter of credit (LC)
2,325,520,633 368,536,182
2,454,754,410 516,260,754
Total
2,694,056,815
2,971,015,164
As of December 31, 2013 and 2012, all bank guarantees issued and outstanding irrevocable LC are classified as current. Movements in allowance for possible losses on commitments and contingencies are as follows: 2013 Rupiah
Foreign currency
Total
Balance at beginning of year Reversal during the year Exchange rate differences
1,473,209,383 (225,235,342) -
1,497,805,781 (1,434,866,188) 1,383,143,181
2,971,015,164 (1,660,101,530) 1,383,143,181
Balance at end of year
1,247,974,041
1,446,082,774
2,694,056,815
2012 Rupiah
Foreign currency
Total
Balance at beginning of year Provision during the year Exchange rate differences
1,469,933,912 3,275,471 -
1,230,632,017 189,813,936 77,359,828
2,700,565,929 193,089,407 77,359,828
Balance at end of year
1,473,209,383
1,497,805,781
2,971,015,164
Management believes that the allowance for possible losses on commitments and contingencies is adequate to cover possible losses from commitments and contingencies payables and in compliance with Bank Indonesia regulation. Commitments and contingencies transactions as of December 31, 2013 and 2012 which have credit risk are as follows: 2013
2012
Bank guarantee issued Outstanding irrevocable LC
150,883,867,269 156,710,686,321
313,826,622,554 51,626,075,373
Total
307,594,553,590
365,452,697,927
64
Annual Report 2013
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PT Bank Syariah Mandiri
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DATE
PT BANK SYARIAH MANDIRI NAME NOTES TO FINANCIAL STATEMENTS POSITION Years ended SIGNATURE December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________ : ______________________________ : ______________________________
21. OTHER LIABILITIES 2013 Rupiah Post and long term-employment benefits (Note 37) Provision for estimated losses on legal cases Guarantee deposits Domestic usance letter of credit (SKBDN) payable to correspondent bank Suspense account new CBS (Note 13) Others
Foreign currencies Payable letter of credit import to customer Domestic usance letter of credit (SKBDN) payable to correspondent bank Guarantee deposits
Total
2012
161,660,356,541 20,502,247,732 10,725,568,705
105,433,221,128 20,522,697,007 8,738,093,420
16,737,680,147 42,320,984,231 12,609,426,761
19,657,424,498 11,249,619,168
264,556,264,117
165,601,055,221
118,401,298,945
115,770,486,913
26,187,731,548 16,533,035,678
13,234,410,545 1,861,036,254
161,122,066,171
130,865,933,712
425,678,330,288
296,466,988,933
Summary of changes in provision for estimated losses on legal cases are as follows: 2013 Rupiah
Foreign currency
Total
Balance at beginning of the year Reversal during the year
20,522,697,007 (20,349,275)
-
20,522,697,007 (20,349,275)
Balance at end of the year
20,502,347,732
-
20,502,347,732
2012 Rupiah
Foreign currency
Total
Balance at beginning of the year Provision during the year
19,522,697,007 1,000,000,000
-
19,522,697,007 1,000,000,000
Balance at end of the year
20,522,697,007
-
20,522,697,007
22. SUBORDINATED NOTES ISSUED 2013
2012
Third parties Related parties (Note 38)
405,000,000,000 95,000,000,000
425,000,000,000 75,000,000,000
Total subordinated notes issued
500,000,000,000
500,000,000,000
65
PT Bank Syariah Mandiri
403
Annual Report 2013
INDEPENDENT AUDITOR’S REPORT These report is originally issued in the Indonesian language.
APPROVAL FOR PRINTING DATE
PT BANK SYARIAH MANDIRI NAME NOTES TO FINANCIAL STATEMENTS POSITION Years ended SIGNATURE December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________ : ______________________________ : ______________________________
22. SUBORDINATED NOTES ISSUED (continued) Subordinated Notes Mudharabah Bank Syariah Mandiri 2011 Subordinated notes (subnotes) mudharabah Bank Syariah Mandiri year 2011 represents marketable securities issued by the Bank in the form of long term notes and matured within 10 years with call option that can be exercised on year 5th (fifth) starting from the issuance date. As of December 31, 2013 and 2012, total subordinated notes mudharabah Bank Syariah Mandiri issued by the Bank in 2011 has nominal amount of Rp500,000,000,000. Terms and conditions: - Profit sharing is calculated based on the sharing rate (nisbah) of the subnotes’ holders multiplied by the unaudited amount of distributable income as stated in the last quarter financial statements of the Bank which have been approved by the Bank’s Board of Directors for not more than 10 (ten) working days before the payment date of its profit sharing. -
Distributable income for profit sharing is derived from the Bank’s income from financing portfolio in Rupiah (blended) amounting to Rp5,000,000,000,000 which was acquired during a quarter as stated in the unaudited financial statements of the Bank.
-
Sharing rate (nisbah) given to subnotes holder is 16.30% per annum which was derived from payment of profit sharing each quarter.
Subnotes is not secured by a specific collateral and are not guaranteed by third party, including not guaranteed by the Republic of Indonesia and not included in the Bank Guarantee Program conducted by Bank Indonesia or other guarantee institutions in accordance with the law and was the Bank’s payable. During the period of Subnotes and prior to the redemption of all principal and interest, the Bank is obliged to: (i) maintain total assets not held for collateral minimum at 150% of total debt; (ii) ensure that the subnotes will not be owned by more than 49 (fourty nine) investors; (iii) submit reports to the monitoring agent as follow: annual audited financial statements, quarterly financial report, financial reports related to the profit sharing income and Bank’s soundness from Bank Indonesia. The Bank without written approval from Monitoring Agent shall not undertake as follow: (i) reduce issued and paid-up capital; (ii) change the main business; (iii) mergers or business combinations, or reorganization, except due to Government or Bank Indonesia’s regulation; (iv) conduct merger, consolidation, acquisition with other entity which will make dissolution of the Bank. The issuance of the Bank’s subnotes is divided into 3 (three) phases as follows: - Phase I dated December 19, 2011 with a nominal amount of Rp75,000,000,000 - Phase II dated December 19, 2011 with a nominal amount of Rp275,000,000,000 - Phase III dated December 19, 2011 with a nominal amount of Rp150,000,000,000 For the issuance of subordinated notes mudharabah Bank Syariah Mandiri 2011, the Bank has received approval from Bank Indonesia through its letter No.13/2069/DPbS dated October 31, 2011 regarding the approval of issuance of subordinated notes mudharabah Bank Syariah Mandiri. Syariah Supervisory Board (SSB) of the Bank has issued an opinion through its letter number 13/11/DPS/XII/2011 dated December 14, 2011 stating that the subordinated notes syariah mudharabah are in accordance with DSN Fatwa on syariah bonds and mudharabah syariah bonds (DSN-MUI Fatwa-No. 32/DSN-MUI/IX/2002 and No. 33/DSN-MUI/IX/2002). Profit sharing given to the holders of subordinated notes was taken from the portion of the Bank. PT Bank Mandiri (Persero) Tbk. and PT Bank CIMB Niaga Tbk. are acting as trustee of the subordinated notes syariah mudharabah Bank Syariah Mandiri 2011. Based on the latest rating report published in December 2013, the Bank’s subnotes has a rating of idAA from PT Pefindo agency. 66
Annual Report 2013
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PT Bank Syariah Mandiri
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DATE
PT BANK SYARIAH MANDIRI NAME NOTES TO FINANCIAL STATEMENTS POSITION Years ended SIGNATURE December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________ : ______________________________ : ______________________________
23. TEMPORARY SYIRKAH FUNDS Temporary syirkah funds consist of: a. Non-Bank 1) Restricted investments 2013
2012
Third parties Demand deposits Saving deposits
3,612,062,836 689,174,056,925
271,227,198 720,450,853,824
Total restricted investments
692,786,119,761
720,722,081,022
Restricted demand and saving deposits are deposit from third parties which will receive return from their investments based on the agreed share (nisbah) of the Bank’s revenue. 2) Unrestricted investments - mudharabah saving deposits
Third parties BSM saving deposits Mabrur saving deposits Investa Cendekia saving deposits Berencana BSM saving deposits Retirement saving deposits Qurban saving deposits Al Washilyah Mandiri saving deposits Related parties(Note 38) BSM saving deposits Berencana BSM saving deposits Investa Cendekia saving deposits Mabrur BSM saving deposits Institution Mudharabah saving deposits Total unrestricted investments mudharabah saving deposits
2013
2012
16,293,842,447,048 2,939,917,536,298 290,818,249,449 156,646,166,989 27,492,663,266 548,526,205 3,612,824
14,421,371,351,641 2,674,293,361,744 245,104,541,205 146,550,283,032 8,235,034,013 488,736,193 30,186,923
19,709,269,202,079
17,496,073,494,751
16,176,774,231 778,341,703 1,217,121,759 75,435,785 76,585,379,898
9,690,062,217 1,030,619,754 1,245,999,980 142,421,520 17,819,906,426
94,833,053,376
29,929,009,897
19,804,102,255,455
17,526,002,504,648
The unrestricted investments of mudharabah saving deposits represents third parties’ deposits which will receive return from their investments based on the agreed share (nisbah) of the Bank’s revenue. The annual profit sharing ratio for investments of mudharabah saving deposits is ranging from 0.23% to 5.64% per annum for 2013 and from 0.23% to 7.17% per annum for 2012.
67
PT Bank Syariah Mandiri
405
Annual Report 2013
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These report is originally issued in the Indonesian language.
DATE
: ______________________________
PT BANK SYARIAH MANDIRI NAME NOTES TO FINANCIAL STATEMENTS POSITION Years ended SIGNATURE December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________ : ______________________________
23. TEMPORARY SYIRKAH FUNDS (continued) a. Non-Bank (continued) 3) Unrestricted investments - mudharabah time deposits 2013 Rupiah
Foreign currency
Total
Third parties Related parties
23,430,231,980,210 930,768,427,449
2,472,808,130,469 445,197,464
25,903,040,110,679 931,213,624,913
Total
24,361,000,407,659
2,473,253,327,933
26,834,253,735,592
2012 Rupiah
Foreign currency
Total
Third parties Related parties
18,630,912,475,503 1,948,287,542,760
1,247,320,229,115 124,186,223
19,878,232,704,618 1,948,411,728,983
Total
20,579,200,018,263
1,247,444,415,338
21,826,644,433,601
b. Bank 2013
2012
Third parties Unrestricted investments: Mudharabah saving deposits Mudharabah time deposits
144,875,521,584 83,396,871,023
181,054,334,269 122,764,968,979
Total temporary syirkah funds bank
228,272,392,607
303,819,303,248
c. Musyarakah - Mudharabah Musytarakah Demand Deposits 2013 Third parties
2012
14,262,559,498
2,886,139,624
d. Unrestricted Investments - Mudharabah Time Deposits (bank and non-bank) 1) By contract period (based on agreements) 2013 Rupiah
Foreign currency
Total
1 month 3 months 6 months 12 months
15,584,006,078,308 3,764,378,174,747 1,895,871,569,506 3,200,141,456,121
1,697,125,559,436 297,369,142,242 398,047,195,016 80,711,431,239
17,281,131,637,744 4,061,747,316,989 2,293,918,764,522 3,280,852,887,360
Total
24,444,397,278,682
2,473,253,327,933
26,917,650,606,615
68
Annual Report 2013
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PT Bank Syariah Mandiri
APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language.
DATE
PT BANK SYARIAH MANDIRI NAME NOTES TO FINANCIAL STATEMENTS POSITION Years ended SIGNATURE December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________ : ______________________________ : ______________________________
23. TEMPORARY SYIRKAH FUNDS (continued) d. Unrestricted Investments - Mudharabah Time Deposits (bank and non-bank) (continued) 1) By contract period (based on agreements) (continued) 2012 Rupiah 1 month 3 months 6 months 12 months Total
Foreign currency
Total
9,603,663,265,073 7,357,606,726,563 1,861,072,518,849 1,879,622,476,757
922,050,244,013 271,829,124,233 16,870,188,356 36,694,858,736
10,525,713,509,086 7,629,435,850,796 1,877,942,707,205 1,916,317,335,493
20,701,964,987,242
1,247,444,415,338
21,949,409,402,580
2) Based on remaining period until maturity 2013 Rupiah
Foreign currency
Total
Up to 1 month More than 1 - 3 months More than 3 - 6 months More than 6 -12 months
16,875,441,645,390 2,772,305,391,486 2,981,250,554,402 1,815,399,687,404
2,448,866,714,275 12,079,912,549 10,317,464,102 1,989,237,007
19,324,308,359,665 2,784,385,304,035 2,991,568,018,504 1,817,388,924,411
Total
24,444,397,278,682
2,473,253,327,933
26,917,650,606,615
2012 Rupiah
Foreign currency
Total
Up to1 month More than 1 -3 months More than 3 - 6 months More than 6 - 12 months
12,227,135,205,675 2,030,791,953,515 5,918,353,567,539 525,684,260,513
959,493,089,941 215,710,170,384 45,215,485,341 27,025,669,672
13,186,628,295,616 2,246,502,123,899 5,963,569,052,880 552,709,930,185
Total
20,701,964,987,242
1,247,444,415,338
21,949,409,402,580
The mudharabah time deposits represent third parties’ deposits which received a profit sharing return from the Bank’s income over utilization of its fund based on an agreed ratio arranged in mudharabah muthlaqah agreement. The annual profit sharing ratio for mudharabah time deposit in Rupiah ranged from 4.06% to 6.51% for the year 2013 and ranged from 4.69% to 6.80% for the year 2012. The annual profit sharing ratio for mudharabah time deposits in foreign currencies ranged from 1.17% to 1.74% per annum for the year 2013 and ranged from 1.36% to 1.81% per annum for 2012. Mudharabah time deposits with mudharabah muthlaqah contract that is pledged as collateral for receivables and financing amounted to Rp926.463.762.519 and Rp769,143,537,487 as of December 31, 2013 and 2012, respectively.
69
PT Bank Syariah Mandiri
407
Annual Report 2013
INDEPENDENT AUDITOR’S REPORT APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language.
DATE
PT BANK SYARIAH MANDIRI NAME NOTES TO FINANCIAL STATEMENTS POSITION Years ended SIGNATURE December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________ : ______________________________ : ______________________________
24. CAPITAL STOCK The Bank’s shareholders and issued and fully paid share capital as of December 31, 2013 and 2012 are as follows: 2013 Shareholders
Number of Shares
% of Ownership
Total (Rp)
PT Bank Mandiri (Persero) Tbk. PT Mandiri Sekuritas
297,804,386 1
99.99999966 0.00000034
1,489,021,930,000 5,000
Total
297,804,387
100.00000000
1,489,021,935,000
2012 Shareholders
Number of Shares
% of Ownership
Total (Rp)
PT Bank Mandiri (Persero) Tbk. PT Mandiri Sekuritas
291,648,712 1
99.99999966 0.00000034
1,458,243,560,000 5,000
Total
291,648,713
100.00000000
1,458,243,565,000
25. ISSUANCE OF SHARES Based on the Shareholders’ General Meeting out of Annual Shareholders’ General Meeting held on December 28, 2012, notarized in the notarial deed No. 18 of Efran Yuniarto, S.H., Notary in Jakarta, PT Bank Mandiri (Persero) Tbk. made an additional capital contribution amounting to Rp300,000,000,000 in cash through issuance of 60 million new shares which were issued from the stock portfolio. Based on the Shareholders’ General Meeting out of Annual Shareholders’ General Meeting held on December 27, 2013 as notarized in the Notarial deed No.20 of Chairul Bachtiar Notary in Jakarta, PT Bank Mandiri (Persero) Tbk. made an additional capital contribution amounting to Rp30,778,370,000 or 6,155,674 shares by inbreng (non-cash) mechanism. The details of the non cash assets contribution are as follows: 1. Land located at Tasikmalaya, with fair value amount Rp5,001,300,000. Appraised by KJPP Abdullah Fitriantoro & Rekan. 2. Land and building located at Yogyakarta, with fair value amount Rp18,206,177,000. Appraised by KJPP Abdullah Fitriantoro & Rekan. 3. Land, building and infrastructure, with fair value amount Rp7,570,893,000. Appraised by KJPP Abdullah Fitriantoro & Rekan. 26. NON-CASH INVESTING ACTIVITY 2013 NON-CASH INVESTING Additional paid-in capital in inbreng for building Total
2012
30,778,370,000
-
30,778,370,000
-
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These report is originally issued in the Indonesian language.
DATE
PT BANK SYARIAH MANDIRI NAME NOTES TO FINANCIAL STATEMENTS POSITION Years ended SIGNATURE December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________ : ______________________________ : ______________________________
27. GENERAL RESERVE In accordance with the Annual General Meeting of Shareholders held on May 29, 2013, the shareholders have decided to provide appropriation of retained earnings from previous years net income amounted Rp60,000,000,000 which made the total appropriation of retained earnings becomes Rp291,648,713,000 or 20% from 2012 issued and fully paid-up capital. The appropriation of retained earning as a general reserve is in accordance with the Limited Company Law which requires companies to set up a general reserve of at least 20% of the issued and fully paid up share capital. As of December 31, 2013, the appropriated retained earnings was 19.59% from issued and fully paid up capital. In accordance with the Annual General Meeting of Shareholders held on June 20, 2012, the shareholders have decided to provide appropriation of retained earnings from previous years net income amounted Rp24,655,555,340 which made the total appropriation of retained earnings becomes Rp231,648,713,000 or 20% from 2011 issued and fully paid-up capital. The appropriation of retained earning as a general reserve is in accordance with the Limited Company Law which requires companies to set up a general reserve of at least 20% of the issued and fully paid up share capital. As of December 31. 2012. the appropriated retained earnings was 15.89% from issued and fully paid up capital. 28. TANTIEM Based on shareholders’ annual general meeting held on May 29, 2013 and June 20, 2012, the shareholders agreed to distribute tantiem to Board of Directors and Board of Commissioners which were taken from the tantiem provision amounting to Rp32,042,000,000 and Rp24,798,161,143, respectively. 29. INCOME FROM FUND MANAGEMENT BY BANK AS MUDHARIB This account represents income received from:
2013
Income from sales and purchases: Murabahah margin income Istishna income - net Total income from sales and purchases Income from rent: Income from ijarah Depreciation expense of ijarah assets (Note 11) Total ijarah income - net Income from profit sharing: Mudharabah profit sharing income Musyarakah profit sharing income Total income from profit sharing Other main operating income: Profit sharing income on marketable securities Bonus income on Bank Indonesia Syariah Certificate Profit sharing income on placements with other banks Total other main operating income Total
3,773,500,454,359 6,131,214,513
3,077,631,899,360 4,123,880,824
3,779,631,668,872
3,081,755,780,184
188,167,851,023 (145,490,408,247)
265,675,494,859 (232,564,177,072)
42,677,442,776
33,111,317,787
543,973,127,108 704,006,732,169
629,464,723,271 602,854,635,101
1,247,979,859,277
1,232,319,358,372
166,522,987,517
216,054,786,431
195,557,714,781
117,637,977,191
5,481,723,231
3,914,077,382
367,562,425,529
337,606,841,004
5,437,851,396,454
4,684,793,297,347
71
PT Bank Syariah Mandiri
409
2012
Annual Report 2013
INDEPENDENT AUDITOR’S REPORT APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language.
DATE
PT BANK SYARIAH MANDIRI NAME NOTES TO FINANCIAL STATEMENTS POSITION Years ended SIGNATURE December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________ : ______________________________ : ______________________________
30. THIRD PARTIES’ SHARE ON RETURN OF TEMPORARY SYIRKAH FUNDS This account represents the distribution of profit sharing to customers: 2013
2012
Mudharabah time deposits Mudharabah saving deposits Restricted investments Interbank mudharabah investment certificate Musyarakah - mudharabah musytarakah demand deposit
1,473,642,591,156 567,840,036,734 37,932,939,927 982,381,081
1,374,951,442,726 514,334,945,115 23,540,256,970 676,870,254
543,776,927
62,977,679
Total
2,080,941,725,825
1,913,566,492,744
31. OTHER OPERATING INCOME 2013 a. Fee based income from banking services Hajj bridging fund income Income from financing administration Income from rahn Saving deposits administration income Income from foreign exchange transaction - net Fee income from other ATM transactions Income from restructuring compensation (ta'widh) Syndicated financing fee Income from domestics documents service Income from administration and commission other than financing Fee income from ATM Mandiri transactionsri Fee income from bancassurance Demand deposits administration income Fee income from RTGS transfers Fee income on payroll services Income from merchant trade fee Ta’widh income from hajj Fee income from exports-imports services Income from insurance commission Others
b. Return on restricted investments Return of mudharabah muqayyadah Total
2012
374,659,038,321 244,686,547,895 186,746,491,476 125,151,861,265 32,071,826,436 31,177,415,022 21,989,027,555 20,774,844,374 18,592,369,317
441,932,235,502 237,980,841,451 156,192,015,042 105,588,087,375 21,334,851,668 21,004,089,264 14,984,664,313 13,076,038,639 13,619,356,566
17,980,426,653 8,966,578,500 8,621,878,050 5,538,128,598 5,142,546,134 4,655,683,644 3,763,604,036 3,716,990,213 3,055,942,308 785,035,521 75,053,964,766
20,749,588,365 8,214,360,320 5,606,414,816 5,569,456,231 4,573,935,489 3,269,960,616 2,076,875,407 2,345,058,607 5,616,610,746 2,971,238,814 45,018,898,715
1,193,130,200,084
1,131,724,577,946
288,532,495
7,022,971,321
1,193,418,732,579
1,138,747,549,267
72
Annual Report 2013
410
PT Bank Syariah Mandiri
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These report is originally issued in the Indonesian language.
DATE
PT BANK SYARIAH MANDIRI NAME NOTES TO FINANCIAL STATEMENTS POSITION Years ended SIGNATURE December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________ : ______________________________ : ______________________________
32. PERSONNEL EXPENSES 2013
2012
Salaries, wages, allowances, and employee benefits expenses Employee benefit expenses Education and training expenses Employee social activities expenses Medical expenses Recruitment expenses Other expenses
1,026,261,791,172 65,023,218,275 42,886,901,378 11,672,036,372 35,611,227,034 1,540,847,221 9,406,752,566
816,771,116,339 50,717,535,457 49,210,515,570 26,128,541,678 14,390,101,286 3,583,397,180 12,358,450,607
Total
1,192,402,774,018
973,159,658,117
33. ADMINISTRATION EXPENSES 2013 Outsourcing expenses Rental expenses Repair and maintenance expenses Data communication expenses Promotion expenses Electricity, telephone, water, and gas expenses Transportation expenses Printing and stationary expenses Other goods & services expenses Insurance premium expenses Mailing and postage expenses Office supplies expenses Professional fees expenses Non-inventory expenses Office expenses Bank administration expenses Partnership expenses Security expenses Miscellaneous tax expenses Ujrah administration expenses Software licenses expenses Business trip expenses Entertainment expenses Research and development expenses Utilization of Bank Mandiri’s ATM expenses Others Total
290,363,722,767 167,672,700,359 136,729,954,136 91,830,503,211 81,184,744,703 72,592,377,861 64,776,626,113 34,987,086,955 23,588,537,048 22,317,082,559 15,108,028,661 14,346,002,621 12,264,914,450 10,355,935,329 9,670,871,491 8,397,036,720 7,630,675,784 7,422,680,068 6,785,844,324 6,323,159,283 6,311,273,066 6,132,951,240 2,972,012,500 1,997,192,605 23,631,593,577
238,112,317,160 148,974,559,424 138,871,434,297 60,079,427,818 107,456,048,129 70,269,993,540 58,775,350,054 29,530,335,991 9,992,203,559 17,331,358,044 25,019,694,801 13,563,384,392 5,163,724,201 23,411,396,504 6,530,297,685 7,147,552,033 8,197,638,091 7,147,545,336 4,439,933,606 9,541,365,347 11,729,868,489 6,499,054,439 4,154,305,662 5,785,385,761 13,874,574,500 3,506,072,316
1,125,393,507,431
1,035,104,821,179
73
PT Bank Syariah Mandiri
411
2012
Annual Report 2013
INDEPENDENT AUDITOR’S REPORT APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language.
DATE
PT BANK SYARIAH MANDIRI NAME NOTES TO FINANCIAL STATEMENTS POSITION Years ended SIGNATURE December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated) 34. PROVISION FOR POSSIBLE LOSSES
2013
a. Provision/(reversal) for possible losses on earning assets: Receivables (Note 7) Musyarakah financing (Note 10) Mudharabah financing (Note 9) Investments in marketable securities (Note 6) Funds of qardh (Note 8) Current accounts with other banks (Note 4) Placements with other banks (Note 5)
: ______________________________ : ______________________________ : ______________________________ : ______________________________
2012
296,312,752,603 426,882,475,847 117,832,318,184 (652,416,170) (5,579,384,618) 3,726,573,179 (1,200,000,000)
226,151,228,835 35,573,288,566 31,900,238,975 70,928,394,245 23,926,198,887 (3,697,162,712) (116,075,000)
Total b. Provision/(reversal) for possible losses on non-earning assets c. (Reversal)/estimated losses on commitments and contingencies (Note 20)
837,322,319,025
384,666,111,796
Total
870,565,001,788
34,902,784,293 (1,660,101,530)
(9,000,000,000) 193,089,407 375,859,201,203
35. OTHER OPERATING EXPENSES 2013 a. Bonus expense: Wadiah demand deposits Wadiah simpatik saving deposits Total bonus expenses b. Other expenses: Premium on third party fund guarantees Provision for operational risk Others Total other expenses Total
2012
51,705,781,629 15,201,706,232
33,569,381,595 9,372,277,075
66,907,487,861
42,941,658,670
102,263,377,640 15,978,728 7,180,604,892
92,786,918,162 1,476,695,889 5,138,559,443
109,459,961,260
99,402,173,494
176,367,449,121
142,343,832,164
36. NON-OPERATING INCOME AND EXPENSES 2013
2012
a. Non-operating income: Gain on sales of fixed assets Gain on foreign exchange Building rental income Others
1,471,344,038 6,650,019,255 150,000,000 1,476,444,784
3,659,645,183 2,659,390,066 114,352,500 1,020,167,844
Total non-operating income
9,747,808,077
7,453,555,593
b. Non-operating expenses: Penalties and sanctions Others
468,383,804 345,412,497
1,108,239,863 314,658,689
Total non-operating expenses
813,796,301
1,422,898,552
Total non-operating income and expense - net
8,934,011,776
6,030,657,041
74
Annual Report 2013
412
PT Bank Syariah Mandiri
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These report is originally issued in the Indonesian language.
DATE
PT BANK SYARIAH MANDIRI NAME NOTES TO FINANCIAL STATEMENTS POSITION Years ended SIGNATURE December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________ : ______________________________ : ______________________________
37. EMPLOYEE BENEFITS The Bank has a defined contribution pension for all permanent employees which are funded through monthly contribution to the Pension Fund Financial Institution (DPLK) Mandiri. The DPLK was approved by the Minister of Finance as stipulated in Decree No.KEP-455/KM.10/2011 dated June 17, 2011. The pension fund contribution is funded by the Bank amounting to 10% of employee’s gross salaries. Contributions paid to pension fund during the year ended December 31, 2013 and 2012 are Rp51,402,732,445 and Rp33,804,492,396, respectively. Basic assumptions used to calculate the liability for employee benefits based on Law No.13/2003 and regulation of the Bank as of December 31, 2013 and 2012 are as follows: 2013 Discount rate Salary increase Normal retirement age Mortality rate Resignation rate
2012
8.75% per annum 5.75% per annum 10% per annum 10% per annum 56 years 56 years CSO - 1980 CSO - 1980 per annum before age 25 and linearly decreasing to 1% until age 45 Projected Unit Credit
Resignation rate
The table below summarizes the components of the estimated net liabilities for employee benefits recognized in the statements of comprehensive income and the amounts recognized in the statement of financial position in relation to calculation of the estimated liability for employee benefits as of December 31, 2013 and 2012 by independent actuary (PT Dayamandiri Dharmakonsilindo) in its report dated January 10, 2014 and January 16, 2013, respectively. Employment benefit expense recognized in the statement of comprehensive income: 2013 Law No. 13/2003 Current service cost Interest cost Net actuarial gains recognized Amortization of unrecognized past service cost - non-vested Others
Long Service Award
Total
29,501,628,000 9,806,972,732 (386,042,846)
18,523,402,000 1,216,494,648 -
48,025,030,000 11,023,467,380 (386,042,846)
6,231,260,186 6,545,797,000
(6,416,293,445)
6,231,260,186 129,503,555
51,699,615,072
13,323,603,203
65,023,218,275
2012 Law No. 13/2003 Current service cost Interest cost Net actuarial gains recognized Amortization of unrecognized past service cost - non-vested Others
Long Service Award
15,320,742,000 7,200,058,174 (397,107,427)
13,402,724,794 909,070,878 -
28,723,466,794 8,109,129,052 (397,107,427)
4,332,721,491 7,171,410,000
2,777,915,547
4,332,721,491 9,949,325,547
33,627,824,238
17,089,711,219
50,717,535,457
75
PT Bank Syariah Mandiri
Total
413
Annual Report 2013
INDEPENDENT AUDITOR’S REPORT These report is originally issued in the Indonesian language.
APPROVAL FOR PRINTING DATE
PT BANK SYARIAH MANDIRI NAME NOTES TO FINANCIAL STATEMENTS POSITION Years ended SIGNATURE December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________ : ______________________________ : ______________________________
37. EMPLOYEE BENEFITS (continued) The liability for employee benefits as of December 31, 2013 and 2012 are as follows: 2013 Law No. 13/2003 Present value of obligation Past service cost Actuarial losses
Long Service Award
Total
130,510,483,000 2,829,945,521 (7,427,558,980)
35,747,487,000 -
166,257,970,000 2,829,945,521 (7,427,558,980)
125,912,869,541
35,747,487,000
161,660,356,541
2012 Law No. 13/2003 Present value of obligation Past service cost Actuarial losses
Long Service Award
Total
172,209,089,000 3,215,988,367 (98,715,520,449)
28,723,664,210 -
200,932,753,210 3,215,988,367 (98,715,520,449)
76,709,556,918
28,723,664,210
105,433,221,128
Mutation of liability for employee benefits for the years ended December 31, 2013 and 2012 are as follows: 2013
Law No. 13/2003 Balance at beginning of year Employee benefit expenses Benefits paid Balance at end of year
76,709,556,918 51,699,615,072 (2,496,302,449) 125,912,869,541
Long Service Award
Total
28,723,664,210 13,323,603,203 (6,299,780,413)
105,433,221,128 65,023,218,275 (8,796,082,862)
35,747,487,000
161,660,356,541
2012 Law No. 13/2003
Long Service Award
Balance at beginning of year Employee benefit expenses Benefits paid
44,712,695,628 33,614,964,238 (1,618,102,948)
17,661,843,313 17,102,571,219 (6,040,750,322)
Balance at end of year
76,709,556,918
28,723,664,210
Total 62,374,538,941 50,717,535,457 (7,658,853,270) 105,433,221,128
76
Annual Report 2013
414
PT Bank Syariah Mandiri
APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language.
DATE
: ______________________________
PT BANK SYARIAH MANDIRI NAME NOTES TO FINANCIAL STATEMENTS POSITION Years ended SIGNATURE December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________ : ______________________________
37. EMPLOYEE BENEFITS (continued) The following table demonstrates the sensivity to a reasonably possible change at 1% in discount rate, with all other variables held constant, of the obligation for employee benefit and aggregate current service cost and interest cost as of December 31, 2013 and 2012: 2013 Increase (Millions Rp) Effect on the aggregate current service cost and interest cost Effect on the present value of obligation
2012
Decrease (Millions Rp)
5,750 30,564
Increase (Millions Rp)
(4,943) (25,209)
6,829 40,114
Decrease (Millions Rp) (5,801) (32,704)
38. TRANSACTIONS WITH RELATED PARTIES Nature of relationship
Related parties PT Bank Mandiri (Persero) Tbk.
Shareholder
PT Mandiri Sekuritas
Shareholder, Deposits from customers
PT Bank Sinar Harapan Bali
Owned by the same shareholder
PT AXA Mandiri Financial Services
Owned by the same shareholder
PT Mandiri Manajemen Investasi
Owned by the same shareholder
Pemerintah Negara Republik Indonesia
Ultimate shareholder
PT Bank BNI Syariah
Subsidiary of Stated Owned Enterprises PT Bank Negara Indonesia (Persero) Tbk.
PT Bank BNI
Stated Owned Enterprises
PT Bank BRI
Stated Owned Enterprises
PT Bank BRISyariah
Subsidiary of Stated Owned Enterprises PT Bank Rakyat Indonesia (Persero) Tbk.
Perum Perumnas
Stated Owned Enterprises
PT Indosat Tbk.
Stated Owned Enterprises
PT Perusahaan Listrik Negara (Persero)
Stated Owned Enterprises
PT Pembangunan Perumahan (Persero) Tbk.
Stated Owned Enterprises
PT Brantas Abipraya (Persero)
Stated Owned Enterprises
PT Wijaya Karya (Persero) Tbk.
Stated Owned Enterprises
PT Pos Indonesia (Persero)
Stated Owned Enterprises
PT Permodalan Nasional Madani (Persero)
Stated Owned Enterprises
PT Hutama Karya (Persero)
Stated Owned Enterprises
PT Istaka Karya (Persero)
Stated Owned Enterprise
PT Balebat Dedikasi Prima
Subsidiary of Stated Owned Company PT Telkom Indonesia Tbk.
PT Bahana Artha Ventura
Subsidiary of Stated owned company Bahana PUI
PT Waskita Karya
Stated Owned Enterprises
PT Jamsostek (Persero)
Stated Owned Enterprises
Perum Jaminan Kredit Indonesia
Stated Owned Enterprises
PT Pupuk Sriwidjaja (Persero)
Stated Owned Enterprises
77
PT Bank Syariah Mandiri
415
Annual Report 2013
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These report is originally issued in the Indonesian language.
DATE
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: ______________________________ : ______________________________ : ______________________________ : ______________________________
38. TRANSACTIONS WITH RELATED PARTIES (continued) Nature of relationship
Related parties PT Semen Baturaja (Persero)
Stated Owned Enterprises
PT Krakatau Steel (Persero) Tbk.
Stated Owned Enterprises
PT Semen Gresik (Persero) Tbk.
Stated Owned Enterprises
Perum Bulog
Stated Owned Enterprises
PT Bank Aceh
Regional Government Owned Enterprises
PT BPD Jawa Tengah
Regional Government Owned Enterprises
PT BPD Kalsel
Regional Government Owned Enterprises
PT BPD Nusa Tenggara Timur
Regional Government Owned Enterprises
PT Bank BPD Sulawesi Tengah
Regional Government Owned Enterprises
PT BPD Sulawesi Selatan
Regional Government Owned Enterprises
PT Bank Sumsel Babel
Regional Government Owned Enterprises
PT Bank Tabungan Negara (Persero) Tbk. - Unit Usaha Syariah
Stated Owned Enterprises Unit PT Bank Tabungan Negara (Persero) Tbk.
PT Asuransi Jiwasraya (Persero)
Stated Owned Enterprises
PT Kimia Farma (Persero) Tbk.
Stated Owned Enterprises
PT Amarta Karya (Persero)
Stated Owned Enterprises
PT Semen Indonesia (Persero) Tbk
Stated Owned Enterprises
PT Balai Pustaka (Persero)
Stated Owned Enterprises
PT Garuda Indonesia (Persero) Tbk.
Stated Owned Enterprises
PT Indah Karya (Persero)
Stated Owned Enterprises
PT Indofarma (Persero)
Stated Owned Enterprises
PT Indra Karya (Persero)
Stated Owned Enterprises
PT Kawasan Berikat Nusantara (Persero) SBU Non-Industri
Stated Owned Enterprises
PT Pelabuhan Indonesia II (Persero)
Stated Owned Enterprises
PT Perkebunan Nusantara VI (Persero)
Stated Owned Enterprises
PT Perkebunan Nusantara XIII (Persero)
Stated Owned Enterprises
PT Perkebunan Nusantara IX (Persero)
Stated Owned Enterprises
PT Angkasa Pura I (Persero)
Stated Owned Enterprises
PT Barata Indonesia (Persero)
Stated Owned Enterprises
PT Surveyor Indonesia (Persero)
Stated Owned Enterprises
PT Tabungan Asuransi Pegawai Negeri (Persero)
Stated Owned Enterprises
PT Pertani (Persero)
Stated Owned Enterprises
PT Sarana Multigriya Finansial (Persero)
Stated Owned Enterprises
PT Kliring Berjangka (Persero)
Stated Owned Enterprises
PT Adhi Karya (Persero) Tbk.
Stated Owned Enterprises
PT Asuransi Ekspor Indonesia (Persero)
Stated Owned Enterprises
PT Asuransi Jasa Indonesia (Persero)
Stated Owned Enterprises
Karyawan Kunci
Key Employees
Nature of transaction with government related parties are current accounts with other banks, liabilities due immediately, deposits from other banks, investment in marketable securities, subordinated notes issued, placement with other banks, deposits from customers, marketable securities, receivables and financing. 78
Annual Report 2013
416
PT Bank Syariah Mandiri
These report is originally issued in the Indonesian language.
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: ______________________________ : ______________________________ : ______________________________ : ______________________________
38. TRANSACTIONS WITH RELATED PARTIES (continued) In the course of its business, the Bank entered into transactions with related parties. Balances of assets, liabilities, unrestricted investments, other operating income, administrative expenses, other operating expenses, and personnel expenses arising from transactions with related parties are as follows: 2013 2012 Assets Current accounts with other banks (Note 4) Placements with other banks (Note 5) Investment in marketable securities (Note 6) Murabahah receivables (Note 7) Mudharabah financing (Note 9) Musyarakah financing (Note 10)
169,097,399,528 50,000,000,000 1,185,570,047,547 121,571,475,843 97,489,261,239 140,428,887,882
106,092,735,229 105,000,000,000 1,437,876,713,473 207,032,014,855 208,542,959,936 203,803,014,000
Total
1,764,157,072,039
2,268,347,437,493
2.76%
4.18%
Liabilities Liabilities due immediately (Note 14) Wadiah demand deposits (Note 16) Deposits from other banks (Note 17) Financing received (Note 19) Subordinated notes issued (Note 22)
69,587,375,504 144,684,579,712 517,195,092 600,000,000,000 95,000,000,000
112,812,995,821 43,585,618,633 6,391,071,948 600,000,000,000 75,000,000,000
Total
909,789,150,308
837,789,686,402
8.25%
9.14%
94,833,053,376 931,213,624,913
29,929,009,897 1,948,411,728,983
1,026,046,678,289
1,978,340,738,880
2.16%
4.90%
8,966,578,500 8,621,878,050 1,754,206,740 2,263,629,415
8,214,360,320 5,606,414,816 927,196,022 2,497,312,034
21,606,292,705
17,245,283,192
1.81%
1.51%
Percentage to total assets
Percentage to total liabilities Unrestricted Investments (Note 23) Mudharabah saving deposits Mudharabah time deposits Total Percentage to total temporary syirkah funds Other Operating Income (Note 31) Fee based income from banking services Fee income from bancassurance Income from suku retail Income from SBSN Total Percentage to total other operating income
79
PT Bank Syariah Mandiri
417
Annual Report 2013
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: ______________________________ : ______________________________ : ______________________________ : ______________________________
38. TRANSACTIONS WITH RELATED PARTIES (continued) 2013 Operating Expenses Fee based income from banking services Fee income from bancassurance
2012
53,048,704,961 47,700,748,473
71,317,055,905 53,592,152,787
100,749,453,434
124,909,208,692
2.76%
4.48%
Personnel expenses (Note 32) Salaries, bonus, tantiem, and other allowances Tantiem Salaries Bonus Other allowances
32,042,000,000 21,149,143,452 2,382,660,424 12,520,823,888
24,798,161,143 18,323,069,020 5,228,709,076 12,351,427,473
Total
68,094,627,764
60,701,366,712
5.71%
6.24%
Total Percentage to total operating expenses
Percentage to total personnel expenses 39. COMMITMENTS AND CONTINGENCIES 2013 Commitments Payables Unused facility of customer financing Outstanding irrevocable L/C Contingencies Payables Bank guarantee issued Others Total
2012
1,238,928,001,007 156,710,686,321
1,737,388,998,753 51,626,075,373
1,395,638,687,328
1,789,015,074,126
145,120,497,284 5,763,369,985
285,948,501,768 27,878,120,786
150,883,867,269
313,826,622,554
1,546,522,554,597
2,102,841,696,680
40. NET OPEN POSITION In accordance with Bank Indonesia regulation No. 12/10/PBI/2010 dated July 1, 2010 concerning the Third Amendment to Bank Indonesia Regulation No. 5/13/PBI/2003 regarding Bank Net Open Position, the Net Open Position (NOP) is the sum of absolute value of the net difference between assets and liabilities of each foreign currency, either on the statement of financial positions or off balance sheets. According to these regulations, since July 1, 2010, commercial banks are required to manage and maintain overall NOP at a maximum of 20% from equity for every 30 minutes from the time the treasury system is opened until closed. As of December 31, 2013 and 2012, the Bank has complied with Bank Indonesia regulation on Net Open Position.
80
Annual Report 2013
418
PT Bank Syariah Mandiri
APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language.
DATE
PT BANK SYARIAH MANDIRI NAME NOTES TO FINANCIAL STATEMENTS POSITION Years ended SIGNATURE December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________ : ______________________________ : ______________________________
40. NET OPEN POSITION (continued) The Bank’s NOP as of December 31, 2013 and 2012 are as follows: 2013 Assets and Off Balance Sheet Assets (Millions Rp)
Liabilities and Off Balance Sheet Liabilities (Millions Rp)
Net Open Position (Absolute) (Millions Rp)
United States Dollar Saudi Arabia Riyal Singapore Dollar Euro Australian Dollar Hongkong Dollar Japanese Yen
4,060,313 1,639 59,366 111,309 1,327 155 85,946
4,092,199 42,073 99,888 23 85,973
31,886 1,639 17,293 11,421 1,304 155 27
Total
4,320,055
4,320,156
63,725
Capital
5,344,901
Percentage of NOP to Capital
1.19% 2012 Assets and Off Balance Sheet Assets (Millions Rp)
Liabilities and Off Balance Sheet Liabilities (Millions Rp)
Net Open Position (Absolute) (Millions Rp)
United States Dollar Saudi Arabia Riyal Singapore Dollar Euro Australian Dollar Japanese Yen
2,661,576 1,307 12,680 8,668 949 839
2,776,000 13,194 3,349 8 810
114,424 1,307 514 5,319 941 29
Total
2,686,019
2,793,361
122,534
Capital
4,567,310
Percentage of NOP to Capital
2.68%
41. ZAKAT The Bank has calculated zakat based on 2.5% of the income before zakat and income tax for the years ended December 31, 2013 and 2012 amounting to Rp22,662,472,354 and Rp28,131,606,226, respectively, which were recorded as zakat expenses in 2013 and 2012. In accordance with the decision of the Annual General Meeting of Shareholders (RUPS) for year 2013 which was held on May 29, 2013, RUPS approved the payment of the Bank’s zakat amounting to 2.5% of income before tax and zakat for the year ended December 31, 2012 totaling Rp28,131,606,226 which was recorded as 2012 expenses. Bank has distributed Bank’s zakat amounting to Rp24,263,178,386 during 2013 through LAZNAS BSM.
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Annual Report 2013
INDEPENDENT AUDITOR’S REPORT APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language.
DATE
PT BANK SYARIAH MANDIRI NAME NOTES TO FINANCIAL STATEMENTS POSITION Years ended SIGNATURE December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________ : ______________________________ : ______________________________
42. PENALTY Penalty for late payment is charged to the debtors. The late payment fee is charged to debtors for the negligence in fulfilling their obligation to the Bank. The amount of late payment fee charge is determined in accordance with Bank’s internal regulation. The Bank does not recognize any revenue from such fee, as the fee was allocated to qardhul hasan funds. The Bank received late payment fee for the years ended December 31, 2013 and 2012 of Rp27,300,018,406 and Rp830,667,606, respectively. The fund will be distributed through LAZNAS BSM. 43. RESTRICTED INVESTMENT FUNDS 2013 Mudharabah Muqayyadah Financing Syariah Revolving Fund (DBS) Mudharabah Muqayyadah Financing Debt for Nature Swap (DNS) Total
2012
82,621,121,925
82,959,472,474
7,069,076,369
7,262,823,338
89,690,198,294
90,222,295,812
2013
2012
Balance at beginning of year of restricted investments Receipt of restricted investments Return from restricted investments Bank’s fees as investment agent Withdrawal of restricted investments
90,222,295,812 874,340,895 (288,532,495) (1,117,905,918)
243,165,234,236 26,470,994,253 7,642,537,222 (7,022,971,321) (180,033,498,578)
Total
89,690,198,294
90,222,295,812
DNS program (Debt for Nature Swap) is a program that allows debt reduction from creditor country in this case the Germany government to the Indonesian government by providing funds for environmental activities. Based on the Decision Letter of the Secretary of State Minister of Environment No. KEP-32/SES/LH/09/2006, the Bank has been appointed as the Executing Bank to distribute the financing program DNS environmental sector to Micro and Small Enterprises (MSEs), the maximum amount of financing for the MSEs amounted to Rp500,000,000. This appointment is binded through the agreement No. 11/41PKS/DIR dated April 13, 2009 between the Bank and the Ministry of Environment. The calculation for the profit sharing to the Bank ranged between 33% to 50% of the margin received from the debtors. Syariah Revolving Fund hereinafter referred as DBS (Dana Bergulir Syariah) is government funds from the State Budget which is distributed to Syariah Financial Services Cooperatives (KJKS-Koperasi Jasa Keuangan Syariah) and Syariah Financial Services Unit (UJKS-Unit Jasa Keuangan Syariah) within a certain time period to meet the needs of their members for financing in various productive activities. State Ministry of Cooperatives - Financing Division has cooperated with the Bank to distribute the DBS financing to KJKS/UJKS. The portion of profit shared between the Bank and the Ministry of Cooperatives and Small Medium Enterprises equal to 40% and 60%. Profits distributed to the Bank is allocated at 10% for reserve of doubtful accounts and 30% for administration, supervision, and guidance of KJKS/UJKS.
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APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language.
DATE
: ______________________________
PT BANK SYARIAH MANDIRI NAME NOTES TO FINANCIAL STATEMENTS POSITION Years ended SIGNATURE December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________ : ______________________________
44. MATURITY ANALYSIS OF ASSETS, LIABILITIES AND TEMPORARY SYIRKAH FUNDS BASED ON THE REMAINING PERIOD TO MATURITY The table below presents the assets (before allowance for possible losses) and liabilities of the Bank which are classified based on the remaining period from December 31, 2013 and 2012 to maturity. 2013 Total
Less than 1 month
1 - 3 months
More than 3 - 12 months
More than 1 - 5 years
More than 5 years
ASSETS Cash Current accounts and placements with Bank Indonesia Current accounts with other banks Placements with other banks Investment in marketable securities Receivables Funds of qardh Mudharabah financing Musyarakah financing Fixed assets - net Other assets - others
1,444,785,308,390
1,444,785,308,390
-
-
-
-
9,157,117,991,948 687,470,635,401 50,000,000,000
9,057,117,991,948 687,470,635,401 50,000,000,000
-
100,000,000,000 -
-
-
1,516,969,845,499 33,332,938,417,814 5,613,054,861,843 3,908,764,004,520 7,338,125,392,862 787,871,083,911 1,837,403,311,374
53,785,202,819 537,488,756,693 573,482,356,157 57,100,401,763 1,070,066,184,767 1,160,994,882,638
15,660,276,626 1,026,473,050,912 911,775,715,973 38,717,501,315 1,392,137,659,596 145,518,515,213
233,447,942,111 2,472,480,039,116 2,411,345,765,713 506,096,001,412 3,617,347,860,109 247,574,097,872
1,097,076,252,440 17,422,734,355,224 1,716,451,024,000 3,113,498,011,456 1,228,493,388,550 655,329,834,892 280,744,235,668
117,000,171,503 11,873,762,215,869 193,352,088,574 30,080,299,840 132,541,249,019 2,571,579,983
Total assets
65,674,500,853,562
14,692,291,720,576
3,530,282,719,635
9,588,291,706,333
25,514,327,102,230
12,349,307,604,788
753,630,890,001
753,630,890,001
-
-
-
-
56,965,430,189 9,115,336,890,142 28,199,064,775 47,180,538,356 600,000,000,000
56,965,430,189 9,115,336,890,142 28,199,064,775 -
47,180,538,356 -
450,000,000,000
150,000,000,000
-
2,694,056,815 425,678,330,288
2,694,056,815 243,515,726,015
-
20,502,247,732
161,660,356,541
-
11,029,685,200,566
10,200,342,057,937
47,180,538,356
470,502,247,732
311,660,356,541
-
500,000,000,000
-
-
-
-
500,000,000,000
LIABILITIES Liabilities due immediately Undistributed third parties’ share on return of temporary syirkah funds and bonus Wadiah deposits Deposits from other banks Taxes payable Financing received Estimated losses on commitment and contingencies Other liabilities Total liabilities SUBORDINATED NOTES ISSUED TEMPORARY SYIRKAH FUNDS Restricted investments Unrestricted investment mudharabah saving deposits Unrestricted investment mudharabah time deposits Unrestricted investments mudharabah-bank saving deposits Unrestricted investments mudharabah - bank time deposit Musyarakah - mudharabah musytarakah demand deposits
692,786,119,761
692,786,119,761
-
-
-
-
19,804,102,255,455
19,804,102,255,455
-
-
-
-
26,834,253,735,592
19,249,728,921,521
2,782,494,189,785
4,802,030,624,286
-
-
144,875,521,584
144,875,521,584
-
-
-
-
83,396,871,023
74,579,438,145
1,891,114,250
6,926,318,628
-
-
14,262,559,498
14,262,559,498
-
-
-
-
Total temporary syirkah funds and subordinated notes issued 48,073,677,062,913
39,980,334,815,964
2,784,385,304,035
4,808,956,942,914
-
500,000,000,000
698,716,877,244
4,308,832,515,687
25,202,666,745,689
11,849,307,604,788
More than 3 - 12 months
More than 1 - 5 years
Difference between assets with liabilities subordinated noted issued and temporary syirkah funds
6,571,138,590,083
(35,488,385,153,325 )
2012 Total
Less than 1 month
1 - 3 months
More than 5 years
ASSETS Cash Current accounts and placements with Bank Indonesia Current accounts with other banks Placements with other banks Investment in marketable securities Receivables Funds of qardh Mudharabah financing Musyarakah financing Fixed assets - net Other assets - others
1,108,282,646,315
1,108,282,646,315
-
-
-
-
5,425,378,388,198 271,289,459,714 170,000,000,000
5,425,378,388,198 271,289,459,714 170,000,000,000
-
-
-
-
1,895,618,404,079 27,753,554,720,614 6,199,260,625,477 4,273,760,117,927 6,336,768,771,581 743,598,369,939 1,462,214,350,354
116,622,061,627 1,331,504,711,082 455,434,703,554 156,089,880,730 42,463,729,953 1,073,577,050,718
11,485,038,409 1,809,680,038,281 580,700,537,945 411,174,374,604 190,282,612,976 149,730,603,445
560,629,461,474 5,894,484,224,560 1,060,056,244,544 1,041,086,153,322 1,269,254,546,618 105,756,848,431
1,126,881,842,569 1,680,538,397,050 713,065,694,398 355,460,789,488 683,664,042,704 643,669,925,321 129,230,372,907
80,000,000,000 17,037,347,349,641 3,390,003,445,036 2,309,948,919,783 4,151,103,839,330 99,928,444,618 3,919,474,853
Total assets
55,639,725,854,198
10,150,642,631,891
3,153,053,205,660
9,931,267,478,949
5,332,511,064,437
27,072,251,473,261
746,363,679,559
746,363,679,559
-
-
-
-
39,952,815,813 7,332,436,237,235 37,976,152,273 112,464,259,877 600,000,000,000
39,952,815,813 7,332,436,237,235 37,976,152,273 112,464,259,877 -
-
-
600,000,000,000
-
2,971,015,164 296,466,988,933
2,971,015,164 296,466,988,933
-
-
-
-
9,168,631,148,854
8,568,631,148,854
-
-
600,000,000,000
-
LIABILITIES Liabilities due immediately Undistributed third parties’ share on return of temporary syirkah funds and bonus Wadiah deposits Deposits from other banks Taxes payable Financing received Estimated losses on commitment and contingencies Other liabilities Total liabilities
83
PT Bank Syariah Mandiri
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INDEPENDENT AUDITOR’S REPORT APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language.
DATE
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PT BANK SYARIAH MANDIRI NAME NOTES TO FINANCIAL STATEMENTS POSITION Years ended SIGNATURE December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________ : ______________________________
44. MATURITY ANALYSIS OF ASSETS, LIABILITIES AND TEMPORARY SYIRKAH FUNDS BASED ON THE REMAINING PERIOD TO MATURITY (continued) 2012 Total SUBORDINATED NOTES ISSUED TEMPORARY SYIRKAH FUNDS Restricted investments Unrestricted investments mudharabah saving deposits Unrestricted investments mudharabah time deposits Unrestricted investments mudharabah-bank saving deposits Unrestricted investments mudharabah – bank time deposit Musyarakah - mudharabah musytarakah demand deposits Total temporary syirkah funds and subordinated notes issued Difference between assets with liabilities subordinated noted issued and temporary syirkah funds
Less than 1 month
500,000,000,000
1 - 3 months -
More than 3 - 12 months
More than 1 - 5 years
-
-
500,000,000,000
-
More than 5 years
720,722,081,022
720,722,081,022
-
-
-
-
17,526,002,504,648
17,526,002,504,648
-
-
-
-
21,826,644,433,601
10,473,022,706,057
7,574,063,718,150
3,779,558,009,394
-
-
181,054,334,269
181,054,334,269
-
-
-
-
122,764,968,979
52,690,803,030
55,372,132,645
14,702,033,304
-
-
2,886,139,624
2,886,139,624
-
-
-
-
40,880,074,462,143
28,956,378,568,650
7,629,435,850,795
3,794,260,042,698
-
500,000,000,000
5,591,020,243,201
(27,374,367,085,613)
(4,476,382,645,135)
6,137,007,436,251
4,732,511,064,437
26,572,251,473,261
44. MATURITY ANALYSIS OF ASSETS, LIABILITIES AND TEMPORARY SYIRKAH FUNDS BASED ON THE REMAINING PERIOD TO MATURITY (continued) The following are the Bank’s efforts to reduce the existing maturity gap: 1) Manage third party funds to be disbursed in the form of receivables and financing within the term period which shall not exceed the third party funding time period. The short-term third party funds shall be disbursed into the short-term receivables and financing. Similarly, long-term third party funds shall be disbursed into the long-term receivable and financing. 2) Maintain relationship and encourage customers to deposit their funds for longer-term period by granting competitive yields. 45. “LEMBAGA PENJAMIN SIMPANAN (LPS)” GUARANTEE ON OBLIGATIONS OF COMMERCIAL BANKS Based on LPS Regulation No. 2 dated November 25, 2010, the deposits guaranteed included demand deposits, time deposits, certificates of deposits, saving deposits, and deposits from other banks. On September 22, 2004, the President of the Republic of Indonesia approved the Law No. 24 of the Lembaga Penjamin Simpanan (LPS). Based on the Law, LPS will guarantee customer’s deposits up to Rp100,000,000 and actively participate in maintaining the stability of the banking system in accordance with the authority given. The Law became effective from September 22, 2005 and since that date, the LPS has been formally operated. On October 13, 2008, the President of the Republic of Indonesia approved the Government Regulation No. 66 Year 2008 regarding the maximum amount of deposits guaranteed by LPS. Based on such regulation, the maximum amount of deposits guaranteed for a particular customer in a bank which previously according to the Law No. 24, Year 2004 amounted to Rp100,000,000 was amended to Rp2,000,000,000.
84
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46. RISK MANAGEMENT In conducting its business, the Bank faces various risks which are credit risk, liquidity risk, market risk, operational risk, legal risk, reputation risk, strategic risk, and compliance risk. a. Credit Risk Management Credit risk is the risk of loss resulting from the defaulting obligor or counterparty in fulfilling their obligations. Credit risk arising from financing activities is managed both at the transaction and portfolio levels. Credit risk management practices are designed to preserve the independence and integrity of the risk assessment process, and also to diversify the credit risk. In efforts to reduce the exposure of credit risk, the Bank need to perform a variety of credit risk mitigation techniques. Credit risk mitigation techniques allow the Bank to protect against counterparty non-performance of financing contracts through collaterals, netting agreements and guarantees. Credit quality of the Bank’s assets in accordance with Bank Indonesia regulations and concentration risks by industry sectors have been disclosed in other notes to the financial statements. The actions taken by the Bank to minimize credit risks are as follows: 1) Improving the financing policies for each segment of financing. 2) Improving the standard operating procedure for each segment of financing. 3) Determining the granting limit of financing on each level Financing Committee. 4) Adjustment authority of financing limit decision maker from ex officio to personnel. 5) Completing scoring for microfinancing, small, and consumer financing as a tools that helps to mitigate the credit risk. 6) Updating the rating of economic sectors to avoid giving financing to unfavourable economic sectors. 7) Developing watch list as a tools to monitor debtors which potentially downgraded or become non-performing financing (NPF). 8) Monitoring the financing portfolio development on each industry sectors through determination of sectoral limit. 9) Creating the Risk Acceptance Criteria (RAC) for several industry sectors for telecommunication, multifinance, healthcare, gass, coal, palm, sea transportation, food and beverages, retail and electricity. 10) Determining the internal Legal Lending Limit (BMPK). 11) Determining the exposure limit of 25 biggest debtors. 12) Determining the financing limit for each industry sectors to avoid the concentration of credit risk on certain economic sectors. 13) Determining the limit of financing in foreign currency. 14) Applying the four eye principle in the processing of financing. 15) Applying standardized of Memorandum for Financing Analysis. 16) Formed a task force to handling non-performing financing effective since May 2013. The task force members are financing divisions, restructuring division and financing recovery division. The Bank's approach in handling the non-performing financing are performed through 5 pillars program as follows: a. Intensive collection. b. Restructuring. c. Insurance claim. d. Sales of collateral. e. Write off.
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Annual Report 2013
INDEPENDENT AUDITOR’S REPORT These report is originally issued in the Indonesian language.
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46. RISK MANAGEMENT (continued) d. Operational Risk Management Operational risk is the risk of loss arising from inadequate internal process, system failure, human error, fraud, and external events that affects operation of bank. Operational risk is the major risk that should be manage carefully due to the impact of operational risk that can affect bank’s going concern. Controls of operational risk are necessary to mitigate the operational risk. The risk controls were done through the segregation of tasks and duties, dual control/dual custody mechanism in execution of transaction, override/authorization function, restrictions on system access authority , employee education on an on going basis, and assessment and implementation of internal audit. The actions taken by the Bank to minimize operating risks are as follows: 1) Determining and reviewing operational risk management policy. 2) Determining and reviewing transaction limit of branches and business unit in head office. 3) Using Operational Risk Management Information System (ORMIS) application to identify, monitor, and mitigate the operational risk/loss experienced by Bank. 4) Implementing risk tools/model risk and control self assessment (RCSA) to assess and mitigate operational risk which is being perform independently by business units. 5) Developing risk tools/model key risk indicator (KRI) for the early detection of potential risk so that the mitigation can be done faster and on time. 6) Providing the analysis/risk opinion for each proposed new product and or activity that will be launched by the Bank. 7) Developing business continuity management policies to ensure the operations of the Bank continues despite of the interference (disaster) to protect the interest of stakeholders. 8) Implementing the information technology risk management through: a) developing risk management policies and procedures for information technology including data communication network and software standardization, system access management, development of electronic banking services in terms of accessibility securities and Disaster Recovery Plan; b) implementing User Acceptance Test (UAT) for each new production and development of application system to minimize the failure of application system. 9) Established special team for fraud investigation. In 2013 the Bank has discover several fraud cases in several branches with total potential loss Rp270,384,565,234 as of December 31, 2013. The Bank has provide allowance for possible losses for those fraud cases amounting to Rp175,325,158,977 after deducted by the available collateral in accordance with Bank Indonesia's regulation. The Bank has formed a task force in order to settle those fraud cases. In preventing the recurrent of those fraud cases the Bank has performed: a) Separate financing disbursement process from back office in branches to Financing Operation Center; b) Strengthening the four eyes principals in financing disbursement process. e. Legal Risk Management Legal risk is the risk caused by the weakness in the legal aspect such as caused by legal claim, supporting of laws or weakness of the contracts such as incomplete requirements for a valid contract and imperfect collateral documents. As a company which is governed by the laws of the Republic of Indonesia, the Bank should always comply with all such laws and regulations issued by Bank Indonesia as the regulator in the banking industry in Indonesia. In addition, the Bank should also follow all prevailing rules and regulations in the society whether directly or indirectly related with the business activities conducted by the Bank. Failure by the Bank to comply with such prevailing laws and regulations may give rise to litigation claims against the Bank. If litigation claims against the Bank are material in amounts, then it may directly affect the Bank’s financial performance. 87
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46. RISK MANAGEMENT (continued) e. Legal Risk Management (continued) In managing the legal risk, Bank performs the following actions: 1) Building a solid legal organization. 2) Give legal protection to all Bank’s management. 3) Review and mitigation of Bank’s products (funding, services and financing) accord with prevailing laws and regulation. 4) Review and mitigation the relationship of Bank’s legal with third parties to have a strong legal position. 5) Handling litigation processes accord with prevailing laws and regulation. 6) Give considerable and/or legal opinion for proposed legal cases. 7) Legal mitigation in Corporate Action. 8) Give efforts to increase the legal awareness of Bank’s employees. 9) Developing Legal Risk Profile. 10) Support Management to ensure adequacy of legal documentation, legal risk management and to support in legal aspect of operational in all business units and Bank’s management to control a proper legal risks. f.
Reputation Risk Management Reputation risk is the risk related to the decreasing level of stakeholders’ confidence arising from the negative perception on the Bank. Reputation risk is inherent in every activity conducted by the Bank. The Bank’s failure to protect its reputation in the public’s eye may result in negative view as well as perception by the public towards the Bank. If the Bank faces this risk then in the short run, the Bank may lose the customer’s trust that will ultimately result in a negative impact to the Bank’s income and volume of activities. Few methods to mitigate the reputation risks conducted by the Bank up to present are as follows: 1) Determining and reviewing risk management policy. 2) Preparing initiative on strategic market communication. 3) Redesigning advertisement of Bank and product and broadcast the advertisement nationally and locally. 4) Conducting programs on special events. 5) Determining service quality standard through Syariah Service Champion. 6) Monitoring reputation risk exposure through publication report, Complaint Management System, and Electronic Banking Information System.
g. Strategic Risk Management Strategic risk is the risk due to inaccuracies in the retrieval and/or implementation of strategic decisions and a failure to anticipate the changing business environment. Bank has developed short-term and long-term strategic and business plans. These plans need to be implemented because as the biggest syariah bank in Indonesia, the Bank has always been challenged and hard pressed to stay ahead of the competition. Few methods to mitigate the strategic risks conducted by the Bank up to present are as follows: 1) Determining and reviewing strategic risk management policy. 2) Preparing Bank Business Planning (BBP) consisting of Bank’s goal and strategic initiative. The BBP has functions as guidance to control strategic risk. 3) The Bank set the business target for regional office based on the BBP. 88
PT Bank Syariah Mandiri
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Annual Report 2013
INDEPENDENT AUDITOR’S REPORT These report is originally issued in the Indonesian language.
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46. RISK MANAGEMENT (continued) g. Strategic Risk Management (continued) Few methods to mitigate the strategic risks conducted by the Bank up to present are as follows: (continued) 4) Informing the business target to all regional offices. 5) Monitoring the performance of all business units through Key Performance Indicator with balance scorecard method. 6) Preparing core plan for long-term business strategy covering all of business unit together with external business consultant. h. Compliance Risk Management Compliance risk is the risks resulting from the failure of the Bank in fulfilling and/or implementing the prevailing Indonesian laws and regulations for syariah bank. In engaging in the banking industry services, the Bank is required to always comply with the banking regulations issued by the Government, Bank Indonesia and National Syariah Board. In general, the compliance risk is closely related to the prevailing Indonesian laws and regulations, which regulate the Bank as a syariah banking institution, such as: credit risks related to Capital Adequacy Ratio (CAR) regulations; Earning Assets Quality; Provision For Possible Losses On Earning Assets (PPAP); Legal Lending Limit (BMPK); Good Corporate Governance (GCG); market risks related to Net Open Position (NOP) regulation, and also strategic risks related to the Bank’s Business Plan (BBP) regulation, the Annual Business and Budget Plan (RKAT) and other risks related to certain regulations. The Bank inability to follow and comply with all laws and regulations related to the banking business activities may affect the continuity of the Bank. In managing the compliance risk, the Bank performs the following actions: 1) Cooperating with Syariah Supervisory Board in ensuring the compliance of the Bank’s operation to syariah principle. 2) Improving the understanding of Good Corporate Governance (GCG) and Code of Conduct (CoC) to management of the Bank through: a) socialization to management; b) socialization to each head office division; c) workshop with regional offices. 3) Strengthening GCG implementation and ensure that all financing debtors to meet all financing requirement. 4) Preparing report of action plan of GCG to Bank Indonesia, such as: a) preparation of report on debtors data updating plan; b) strengthening the corporate secretary and human capital functions as special business unit for the implementation of GCG and CoC. 5) Improving the Know Your Customer (KYC), Anti Money Laundering (APU) and Prevention of Financing to Terrorism (PPT): a) guidelines of APU and PPT; b) measurement of KYC, APU and PPT index; c) establishment of Compliance and Customer Identification Unit (UKPN) officers in business unit; d) completeness of debtors information; e) awareness of Money Laundering Criminal Actions (TPPU); f) implementation of APU and PTT in each branch. 89
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PT BANK SYARIAH MANDIRI NAME NOTES TO FINANCIAL STATEMENTS POSITION Years ended SIGNATURE December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________ : ______________________________ : ______________________________
46. RISK MANAGEMENT (continued) h. Compliance Risk Management (continued) In managing the compliance risk, the Bank performs the following actions: (continued) 6) Revising and completing compliance procedure tools by providing a checksheet. 7) Improving the implementation of compliance certificate examination. 8) Empowering the Sharia Compliance Officer to review and analyze the compliance of Bank’s product/activity to syariah principle. 47. OTHER IMPORTANT INFORMATION a. Based on management calculation as of December 31, 2013 and 2012, the Bank has capital adequacy ratio (CAR) of 14.10% and 13.82%, respectively. b. As of December 31, 2013 and 2012, the Bank has the Classified Earning Assets ratio (APYD) amounting to 0.96 and 0.97, respectively. c.
As of December 31, 2013 and 2012 the ratio of non-performing receivables, funds of qardh and financing (gross) to total receivables, funds of qardh and financing were 4.33% and 2.82%, respectively, while the ratio of non-performing receivables, funds of qardh and financing (net) to total receivables, funds of qardh and financing were 2.29% and 1.14%, respectively.
d. In the report of the Legal Lending Limit (BMPK) submitted by the Bank to Bank Indonesia, as of December 31, 2013, the Bank did not have receivables and financing that exceeds or violates the BMPK. e. The issue on Value Added Tax (VAT) on murabahah financing. In 2004 and 2005 the head office and several branch offices received tax assessments for under payment of taxes (SKPKB) and tax collection letters (STP) on Value Added Taxes (VAT) for the tax period January to December 2003 from the Directorate General of Taxes (DGT) with the total amount of Rp37,649,329,708 in relation to the Bank in performing its intermediary function by distributing the fund based on syariah principles in the form of murabahah financing. The tax assessments and tax collection letters consisted of the Jakarta head office of Rp25,542,431,822, Jambi’s branch offices of Rp1,588,713,232, Solo’s branch offices of Rp5,830,767,262, Bandar Lampung’s branch offices of Rp2,377,922,133 and Pekalongan’s branch offices of Rp2,309,495,259. In relation to the SKPKB and STP, the Bank did not make any payments based on the ground of uncertainty in the legal status of murabahah financing transactions. There was no specific and explicit regulations overseeing the syariah bank operation, particularly murabahah financing, and therefore a process of interpretation was required. The Bank argued that murabahah financing is a part of banking services as stipulated in Law No. 7 Year 1992 regarding Banking, as amended by Law No. 10 Year 1998 and Law No. 21 Year 2008 regarding Syariah Banking, as such murabahah financing should not be subjected to VAT. This is in accordance with Law No. 8 Year 1983 as amended by Law No. 18 of 2000 regarding VAT for goods and services and sales of luxury goods. DGT believes that murabahah activities undertaken by the Bank is subject to VAT because the transaction were based on purchasing and selling of goods principles and as such, murabahah transaction shall not be included as a type of banking services. 90
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427
Annual Report 2013
INDEPENDENT AUDITOR’S REPORT These report is originally issued in the Indonesian language.
APPROVAL FOR PRINTING DATE
PT BANK SYARIAH MANDIRI NAME NOTES TO FINANCIAL STATEMENTS POSITION Years ended SIGNATURE December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________ : ______________________________ : ______________________________
47. OTHER IMPORTANT INFORMATION (continued) e. The issue on Value Added Tax (VAT) on murabahah financing (continued). In 2010, the government issued Laws of Republic of Indonesia No. 2 Year 2010 regarding Change of Laws No. 47 year 2009 regarding Budget of Government’s Income and Expenses Year 2010 dated May 25, 2010. Article 3 (2) b of the law and the related explanatory paragraph stated that VAT liabilities for murabahah transaction for several banks were being shouldered by the government. Based on explanatory paragraph of article 3 (2), the Bank’s VAT that is shouldered by the government amounting to Rp25,542,431,822 from the total SKPKB and STP received by the Bank amounting to Rp37,649,329,708 as discussed in the previous paragraph. Management believes that the difference between VAT shouldered by the government and total SKPKB and STP received by the Bank shall not be billed to the Bank which is inline with objective and purposes of the Law. On October 15, 2009, the government has issued Laws No. 42 year 2009 regarding third change of Laws No. 8 year 1983 regarding Value Added Tax for Goods and Services and Tax for Sales of Luxurious Goods which is effective starting from April 1, 2010. The Laws reiterates that financing based on syariah principles are categorized as services which are not subject to VAT. f.
Lawsuit between the Bank and PT Atriumasta Sakti On January 12, 2009, PT Atriumasta Sakti (PT AS) has sued the Bank through the National Syariah Arbitration Board (BASYARNAS) with case number No.16/Tahun 2008/ BASYARNAS/Ka.Jak. The parties in this suit are PT AS, as an Applicant and the Bank as the Respondent. On September 16, 2009, the Arbitration Board of BASYARNAS decided, among others to punish the Bank to return the fund amounting to Rp878,791,366 (eight hundred seventy-eight million seven hundred ninety-one thousand three hundred and sixty-six Rupiah) and reimburse to PT AS other costs incurred as long as these costs are supported by evidence of payment that has been verified by public accounting firm both for the authenticity of the evidence and the amount of cost involved cost involved which was estimated at Rp11,647,310,116. In response to the decision of the Arbitration Board, the Bank has filed a request of appeal to the Supreme Court through Central Jakarta Religion Court and also has filed Judicial Review in Supreme court. The Supreme Court has published the decision No. 56 PK/AG/2011, on December 1, 2011. Court denied the judicial review that filed by The Bank As of December 31, 2013 and 2012, the Bank has provided allowance for possible losses on the lawsuit amounting to Rp12,000,000,000.
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PT Bank Syariah Mandiri
APPROVAL FOR PRINTING
These report is originally issued in the Indonesian language.
DATE
PT BANK SYARIAH MANDIRI NAME NOTES TO FINANCIAL STATEMENTS POSITION Years ended SIGNATURE December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________ : ______________________________ : ______________________________
48. CAPITAL MANAGEMENT The Bank's capital management policy aims to ensure that the Bank has an efficient capital structure, has a strong capital to support the Bank’s current business development strategy and to maintain the continuity of the Bank’s business in the foreseeable future, as well as to meet the capital adequacy set by the regulator. Capital Plan is prepared by the Board of Directors as part of the Bank’s Business Plan and is approved by the Board of Commissioners. The Bank capital plan is formulated based on the assessment of capital adequacy requirements, business expansion plan, and the Bank’s liquidity needs. The capital adequacy ratio of the Bank as of December 31, 2013 and 2012 is as follows (in millions rupiah): 2013 I.
Constituents Capital A. Core-capital Paid in capital General reserve Retained earning at beginning of year after tax Current year net income after tax (50%)
2012
4,391,216 1,489,022 291,649 2,284,925 325,620
3,655,579 1,458,244 231,649 1,562,841 402,845
953,685
911,731
453,685
411,731
500,000
500,000
C. Additional Supplementary Capital
-
-
Total Core, Supplementary and Additional Supplementary Capital
5,344,901
4,567,310
III. Credit Risk-Weighted Assets IV. Market Risk-Weighted Assets
37,841,216 63,725
32,916,532 122,534
V.
Total Risk-Weighted Assets
37,904,941
33,039,066
VI.
Capital Adequacy Ratio - credit risk
14.12%
13.88%
14.10%
13.82%
8%
8%
B. Supplementary capital Allowance for posible losses on earning assets (general reserve), maximum of 1.25% weight risk Subordinate Investment (maximum 50% from core capital)
II.
VII. Capital Adequacy Ratio - credit and market risk VIII. Minimum Capital Adequacy Ratio
92
PT Bank Syariah Mandiri
429
Annual Report 2013
INDEPENDENT AUDITOR’S REPORT These report is originally issued in the Indonesian language.
APPROVAL FOR PRINTING DATE
PT BANK SYARIAH MANDIRI NAME NOTES TO FINANCIAL STATEMENTS POSITION Years ended SIGNATURE December 31, 2013 and 2012 (Expressed in Rupiah unless otherwise stated)
: ______________________________ : ______________________________ : ______________________________ : ______________________________
49. OPINION OF SYARIAH SUPERVISORY BOARD Based on letter No. 16/01/DPS/I/2014 dated January 3, 2014 and letter No. 15/01/DPS/DPS/1/ 2013 dated January 23, 2013, for the year ended December 31, 2013 and 2012 the Syariah Supervisory Board (SSB) of the Bank has stated that in general the Bank’s operation and its products have complied with syariah rule and fatwa issued by the National Syariah Board Indonesian Ulama Council (DSN-MUI) and opinion of SSB. 50. AGREEMENT AND COOPERATION On September 9, 2009, the Bank entered into the IT service agreement - Core Banking System (the Agreement) with PT Anabatic Technologies for period of 12 (twelve) years with a contract value of USD4,488,000. Up to December 31, 2013, the Bank has made payment of USD2,137,014 (2012: USD1,873,080) in accordance with the agreement. 51. COMPLETION OF THE FINANCIAL STATEMENTS The management of the Bank is responsible for the preparation of the financial statements which were completed and authorized for issue by the management of the Bank on January 22, 2014.
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