Embracing New Optimism Through Innovations

Embracing New Optimism Through Innovations Year 2016 was a new chapter of innovation from PT Bank Rakyat Indonesia Agroniaga Tbk (“Company”, “BRI Agro”) with technology based banking services such as mobile banking, internet banking and cash management system. Those innovation strengthened the growth quality achieved in the previous year and ready to welcom bright future with optims. That was the background of BRI Agro’s annual report 2016 theme, “Embracing New Optimism through Innovations”. Innovation will be an enabler for the business of BRI Agro to keep growing sustainably.

ThemE Continuity

2016

2015

2014

In 2016, the Company was

The Company is committed to

In 2014, the Company

ready to welcome new optimism

continuously providing support

continuously transformed and

through innovation with new

in agribusiness development

consolidated in all aspects and

services of mobile banking,

in Indonesia. Therefore in

brought one spirit of change to

internet banking and cash

2015, the Company did not

strengthen synergy in the future.

management. That will become

onlu continuously improving

an enabler for the Company’s

its performances but also

sustainable business growth.

strengthened the quality of the

Business Supporting Unit

performances.

Management Discussion and Analysis

Corporate Governance

Corporate Social and Environmental Responsibility

2013

2012

2011 The Company strengthened it

and logo in 2012 with spirit

existence as a bank who focuses

transformation. That

of optimism in strengthening

in Indonesia agribusiness sector.

strengthens brought Company

the Company’s foundation and

With the support from PT Bank

to new position in 2013 with

continuously taking changes

Rakyat Indonesia (Persero) Tbk

excellent performance growth.

actions for improvement. Those

as new controlling shareholder,

changes was taken to improve

in 2011 the Company sharpened

synergy with holding entity.

its vision to continuously

2016

The Company changed its name

the Company strengthened

ANNUAL REPORT

Committed to keep growing,

supporting the development of national agribusiness.

3

Table of Contents

Performance Highlights 2016 7

Achievement in 2016

8

Fianancial Highlights

15

Event Highlights

Company Profile

Management Report

REPORT

2016 ANNUAL

Corporate Data

39

Company in Brief

40

Corporate Identity

41

Milestone

42

Company’s Vision and Mission

43

Work Culture

44

Business Field

44

Product and Service

45

Organization Structure

20

Board of Commissioners’ Report

50

Board of Commissioners’ Profile

26

Board of Directors’ Report

52

Board of Directors’ Profile

34

Board of Commissioners’ Statement on 2016 Annual Report of PT Bank Rakyat Indonesia Agroniaga Tbk

55

Member of Audit Committee’s Profile

57

Member of Risk Control Committee’s Profile

Board of Directors’ Statement on 2016 Annual Report of PT Bank Rakyat Indonesia Agroniaga Tbk

58

Member of Nomination and Remuneration Committee’s Profile

59

Holding Entity

70

Business Group Structure

71

Subsidiary and Associate Entity

71

Company’s Operations Area

72

Office Network

78

Company’s Supporting Profession Institution

79

Awards Received

35

4

38

Management Discussion & Analysis 106

Business Segment Review

Composition of Shareholders

108

Financial Review

Information on majority and Controlling Shareholder

134

Ability to Pay Debt

136

Debt Collectability Ratio

84

Stock Highlights

137

Capital Structure

86

Chronology of Share Listing and Other Securities

139

Material Relationship for Capital Goods Investment

86

Bonds Information

139

87

Share Options

Investment of Capital Goods Realized in 2016

87

Employee and Management Stock Ownership Program

140

Comparison between Target and Realization 2016

87

Buy Back Share and Buy Back Bank’s Bonds

141

Target in 2017

141

Information and Material Issues after Reporting Period

141

Extraordinary and Rare Financial Information

141

Material Information on Investment, Expansion, Divestment, Capital/Debt Restructuring

142

Business Prospect

143

Marketing Aspect

149

Dividend Policy

150

Utilization Realization of Public Offering Fund

151

Employee and Management Stock Ownership Program (ESOP/MSOP)

152

Material Information and Transaction with Conflict of Interest and/or Transaction with Affiliated Parties

154

Information on Commitment and Contingency

155

Changes on Constitutions

156

Changes on Accounting Policies

157

Business Sustainability

82 83

Business Supporting Unit 90

Human Resources

98

Information Technology

2016

General Review

ANNUAL REPORT

104

Information for Investor

5

Inconsistency with SFAS

270

Ratio of Highest and Lowest Wages

270

Transaction with Conflict of Interest

271

Fund Distribution for Politic Activities

271

Code of Ethics

272

Litigation and Material Issue Cases

272

Company, Subsidiary, Member of the Board of Directors and/or Commissioners

160

Corporate Governance Implementation

161

Corporate Governance Assessment

162

GCG Manual and Policies

163

Corporate Governance Structure

273

Whistleblowing System

164

General Meeting of Shareholders

274

Access of Information

168

Board of Commissioners

177

Board of Directors

190

Audit Committee

194

Nomination and Remuneration Committee

196

Risk Control Committee

199

Risk Management Committee

201

Asset and Liabilities Committee (ALCO)

202

Information Technology Committee

203

Loan Committee

204

Corporate Secretary

208

Compliance Function

210

Internal Audit Unit

218

Internal Control System

220

Public Accountant

222

Risk Management

279

269

Fund Providence to Related Parties and Big Fund Provider

Corporate Social Responsibility on Environment

279

270

Tax Obligation Fulfillment

Corporate Social Responsibility on Employment

281

Corporate Social Responsibility on Social Development

283

Corporate Social Responsibility on Consumer

284

Society Education on Banking

REPORT

2016 ANNUAL


270

286

Corporate Social & Environmental Responsibility

Consolidated Financial Statement OJK Regulation Reference

6

Achievement in 2016 A S S ETS

11,38 TRILLION RUPIAH

CAR

%

23,68 LOA N

8,18

TRILLION RUPIAH

MOBILE BANKING

9,22

CASH MANAGEMENT

LAPORAN TA H U N A N

THIRD PARTY FUND

2016

INNOVATION

T RILLIO N RUPI A H

7

Financial Highlights Statement of Financial Position

2016

2015

2014

2013

2012

in thousand Rupiah

Total Assets

11.377.960.721

8.364.502.563

6.388.305.061

5.126.260.097

4.040.140.235

Total Productive Assets

10.261.114.980

7.592.536.121

5.977.813.864

4.835.186.940

3.841.886.289

8.179.753.799

6.044.521.633

4.694.580.210

3.698.592.953

2.531.073.097

Current Account

679.846.697

456.347.756

354.983.627

649.443.046

298.787.388

Saving Account

461.123.290

451.827.362

308.795.502

231.042.397

190.607.541

8.082.808.516

5.953.876.062

4.542.474.337

3.239.768.390

2.564.894.408

93.453.674

31.422.865

186.999.022

94.029.996

536.332.312

9.441.709.181

7.012.090.138

5.493.624.199

4.295.923.828

3.668.215.679

Capital/Equity

1.936.251.540

1.352.412.425

894.680.862

830.336.269

371.924.556

Paid Capital

1.147.971.570

1.147.971.570

745.078.118

745.078.118

361.809.558

Loan (Gross) Third Party Fund

Time Deposits Other interest expense liabilities Total liabilities PERFORMANCE HIGHLIGHTS 2016

Management Report

Company Profile

8

REPORT

2016 ANNUAL


11.377,96

8.364,50 6.388,30 5.126,26 4.040,14

Total AsSetS in billion Rupiah

2012

2013

2014

2015

2016 8.179,75

6.044,52


4.694,58 3.698,59 Management Discussion and Analysis

2.531,07

Loan Corporate Governance

in billion Rupiah

2012

2013

2014

2015

2016 9.223,78


6.862,05 ANNUAL REPORT

2016

5.206,25 4.120,25 3.054,29

Third Party Fund in billion Rupiah

2012

2013

2014

2015

2016

9

Statement of Profit or Loss and Other Comprehensive Income

2016

2015

2014

2013

2012

in thousand Rupiah

Interest Income

965.085.260

786.709.562

598.344.410

420.623.106

316.495.383

Interest Expense

(543.413.124)

(430.938.429)

(339.152.201)

(195.481.763)

(133.550.745)

421.672.136

355.771.133

259.192.209

225.141.343

182.944.638

Other Operating Income

70.694.067

55.231.685

39.889.880

50.691.682

47.413.716

Other Operating Expense

(363.859.380)

(315.308.684)

(221.553.948)

(209.265.456)

(180.194.276)

Income Before Tax Expense

141.265.512

110.795.268

81.896.086

71.589.231

51.471.054

Income for the Year

103.003.152

80.491.880

59.407.934

52.439.708

33.026.578

Comprehensive Profit or Loss

100.642.721

62.115.377

74.622.774

17.985.779

24.308.393

Comprehensive Income Attributable to Parent Entity

100.642.721

62.115.377

74.622.774

17.985.779

24.308.393

Comprehensive Income Attributable to Non Controlling

-

-

-

-

-

15.325.712.820 11.479.715.698

7.450.781.177

7.450.781.177

3.618.095.578

7,97

10,06

9,33

Net Interest Income

PERFORMANCE HIGHLIGHTS 2016

Management Report

Total Shares (Paid) Company Profile

10

REPORT

2016 ANNUAL


Net profit per Share (Rp)

8,89

8,50

965,08 786,71 598,34 420,62 316,49

Interest Income in billion Rupiah

2012

2013

2014

2015

2016 543,41

430,94


339,15


195,48

Interest Expense

133,55


in billion Rupiah

2012

2013

2014

2015

2016 103,00


80,49

2016

59,41

ANNUAL REPORT

52,44 33,03

Income for the Year in billion Rupiah

2012

2013

2014

2015

2016

11

Descriptions

2016

2015

2014

2013

2012

in percentage

F IN A N C IA L R ATIO Capital Capital Adequacy Ratio (CAR)

23,68

22,12

19,06

21,60

14,80

1,31

1,48

2,93

PRO DUC TIV E A SSETS Productive Assets & Non Productive Assets to Total Productive Assets and Non Productive Assets

2,17

1,35

F IN A N C IA L PO SITIO N

PERFORMANCE HIGHLIGHTS 2016

Financial Assets CKPN to Productive Assets

2,43

1,76

1,78

2,07

3,00

Non Performing Loan (NPL Gross)

2,88

1,90

2,02

2,27

3,68

28,74

23,67

21,66

14,15

22,53

1,86

0,18

0,28

0,26

0,10

SMEs Loan Real Estate Loan Management Report

Company Profile

PRO F ITA B ILITY ROA

1,49

1,55

1,47

1,66

1,63

ROE

7,31

7,65

7,05

8,89

10,26

NIP

4,35

4,77

4,62

5,31

6,00

87,59

88,63

87,85

85,88

86,54

87,11

82,48

OPEX

NET IN TER EST IN C O ME

12

REPORT

2016 ANNUAL


LDR

88,25

87,15

88,49

1,63

1,66 1,47

1,55

1,49

ROA in percentage

2012

2013

2014

2015

22,12

21,60

2016 23,68

19,06 Business Supporting Unit

14,80

Capital Adequacy Ratio (CAR)



in percentage

2012

82,48

2014

2015

2016

87,11

88,49

87,15

88,25

2013

2014

2015

2016


ANNUAL REPORT

2016

2013

LDR in percentage

2012

13

Compliance Percentage of BMPK Violation

2016

14

REPORT

2016 ANNUAL


2012

0,00%

0,00%

0,00%

Non-Related Party

0,00%

0,00%

0,00%

0,00%

0,00%

13,58%

10,16%

8,16%

8,18%

8,24%

Net Open Position

0,24%

4,35%

5,82%

3,56%

0,34%

Cost of Fund

7,16%

8,69%

8,81%

7,78%

10,36%

11,87%

13,16%

13,00%

13,22%

12,36%

Guaranteed Assets

-

-

-

-

-

Assets through Leasing

-

-

-

-

-

Spot and Derivative Transaction

-

-

-

-

-

2.351.218.151

1.430.752.864

1.016.997.536

523.466.792

564.596.103

152.252.705

10.929.197

13.102.502

9.682.564

2.456.588

487,63%

518,49%

614,03%

517,37%

986,28%

82,98%

83,83%

86,00%

83,80%

90,79%

SMEs Loan (in thousand Rp)

Liquidity to Equity Ratio Liquidity to Total Assets Ratio

Company Profile

2013

0,00%

Real Estate Loan (in thousand Rp) Management Report

2014

0,00%

Base Lending Rate

HIGHLIGHTS

2015

Related Party

Minimum Legal Reserve

PERFORMANCE

2016

Event Highlights JANUARY

MARCH

13

17

Various Christmas joys together with BRI

President Director of Bank BRI Mr. Asmawi Syam

Agro on January 13, 2016.

accompanied by Mr. Bampang Soepeno and Mr. Heru Sukanto, in inauguration of New BRI Agro Building, in Jl. Warung Jati Barat No. 139, Jakarta on March 17, 2016.

APRIL Business Supporting Unit


20 14

Based on Provisions in Articles of Association and taking

Relocation of Sub Branch Office

into account Financial Service Authroity regulation No. 32/

Kasikan on April 14, 2016.

POJK.04/2014, BRI Agro held Annual GMS on April 20, 2016 in BRI Agro Building Multifunction Room, Jl. Warung Jati Barat No. 139, Jakarta 12740.



MAY

2016

ANNUAL REPORT

Pembukaan Kantor Cabang

16

Pembantu Gresik yang dihadiri oleh Direktur Bisnis Bpk. Zuhri Anwar tanggal 16 Mei 2016.

15

JULY

On July 17, 2016, BRI Agro held Halal

17

Bihalal at BRI Agro Building, Jl. Warung Jati Barat No. 139, South Jakarta.

SEPTEMBER PERFORMANCE HIGHLIGHTS 2016

Management Report

19 Company Profile

22

On September 19, 2016, BRI Agro presented

Extraordinary GMS for additional capital

in Investor Gathering held at Indonesia Stock

approval in Limited Public Offering (PUT) VI on

Exchange Building (IDX).

September 22, 2016 at 10.00 until finish in BRI Agro Building 4th floor, Jl. Warung Jati Barat No. 139, Jakarta 12740.

REPORT

2016 ANNUAL


26 Relocation of Branch Office Cik Ditiro to Argo

Celebration of BRI Agro 27th anniversary on

Plaza Jl. H. R. Rasuna Said Block X2 No. 1 on

September 27, 2016.

September 26, 2016.

16

27

OCTOBER

BRI Agro won 1st place in Sport and

6

Art Week (Porseni) BRI Group opening ceremony.

Fun Walk Family, as a series of BRI Agro

16

anniversary celebration on October 16, 2016.



NOVEMBER Corporate Governance


Expose in BRI Agro Building 4th floor, Jl. Warung

16

2016

On November 7, 2016, BRI Agro held Public

ANNUAL REPORT

7

Jati Barat No. 139, Jakarta 12740. Opening of Sub Branch Office Teuku Cikditiro on November 16, 2016.

17

Management RepoRT

Report From The Board of Commissioners

BAMBANG SOEPENO President Commissioner

Performance Highlights 2016

LAPORAN MANAJEMEN

Company Profile


“

GOOD ABILITY OF THE MANAGEMENT IN

REPORT

FROM THE HOLDING ENTITY, BANK BRI, ENABLED BRI AGRO TO GROW RAPIDLY IN 2016 COMPARE TO THE AVERAGE GROWTH OF BANKING INDUSTRY.

20

“

2016 ANNUAL

MANAGING THE COMPANY, AND SUPPORT

Assalamu’alaikum Wr. Wb., Om Swastiastu, God bless us all, Dear honored Shareholders, Board of

Meanwhile Indonesia banking industry in general

Commissioners and Directors, Company’s

showed growth (YoY) as follows, Total Assets

Management and Stakeholders, praise thanks to

grew by 10.40%, Loan grew by 7.97%, Third Party

Allah SWT, God Almighty, for the mercy and grace

Fund grew by 9.60%, Capital adequacy ratio on

given to Bank BRI Agro, which earned proud

the level of 22.93% and Non Performing Loan

achievement throughout 2016.

ratio on the range of 2.93% (gross).

This was shown with the growth (YoY) of Net

Good ability of the management in managing

Income by 28.6%. Loan grew by 35%. Third

the Company, and support from the Holding

Party Fund grew by 34%, Equities grew by 44%

Entity, Bank BRI, enabled Bank BRI Agro to grow

with capital adequacy ratio of 23.68%, Non

rapidly in 2016 compare to the average growth

Performing Loan (gross) that managed well on

of banking industry. The Board of Commissioners

level 2.88% or 1.40% (net).

also created harmonious cooperation with the Board of Directors and key management. taken through periodic meeting to discuss Bank’s strategy and performance, including problems


and the solution. Management Discussion and Analysis

MACRO ECONOMIC CONDITION Year 2016 was marked with the weakened

In 2017, global economic condition was

Indonesia economic as the impact of global

predicted to be better, eventhough still facing

economic condition. However, Indonesia

some challenges such as FED rate increase plan

economic growth was able to grow to 5.01%

in United of America which has potential to

which was higher than in 2015 that was 4.79%.

create turmoil on financial market and economic

Rupiah exchange rate was not stable yet, liquidity

performance slowdown in China. In addition,

was tightened, and commodity as well as mining

national liquidity need is getting higher since

export further increase credit risk.

the Government accelerated infrastructure

expected to influence economic growth acceleration in emerging markets or in Indonesia.

2016

with due date in 2017. Those factors are


ANNUAL REPORT

development and cover the debt of Government


21

PERFORMANCE ASSESSMENT OF THE BOARD OF DIRECTORS ON BANK MANAGEMENT Based on financial statements 2016 audited by independent auditor from PUblic Accountant Firm (KAP) Purwantono, Sungkoro and Surja (member of Ernst & Young) or PSS, with fair opinion for all material issues. Some issues that need to take into accounts are as follows: 1. Income (before tax) in 2016 was Rp141 billion that means a quite significant increased by

2016, showed the Bank’s condition in general

27% compare to 2015 that was Rp111 billion.

was Healthy, with composite level (PK) of

Net Income amounted to Rp103 billion

2.This reflected that Bank was considered

increased by 28.6% compare to previous

to be able to face significant influences

year that was Rp80 billion. If compare to

from business condition changes and other

Bank Business Plan (RBB) in 2016 that was

external factors. Factors assessed was risk

Rp101.8 billion, the achievement exceeded

profile, good corporate governance (GCG),

100%.

rentability and capital.

2. Total Assets increased by 36.5% to Rp11.37 Performance Highlights 2016

Moderate composite risk, with better trend.

trillion.

This predicate was same with 2015 that was

increased by 35.3% compare to 2015 that was REPORT

Company Profile

Rp6.04 trillion. 4. Non Performing Loan (NPL) as of December

Low to Moderate. 8. Additional paid up capital approved in Extraordinary General Meeting of Shareholders (EGMS) on September 22, 2016

31, 2016 was 2.88% slightly increased

amounted to Rp499.9 billion (43.5%) from

compare to 2015 that was 1.90%. However,

Rp1,147.9 billion to Rp1,532.5 billion that

NPL net ratio as of December 31, 2016

made the Bank was in the Business Category

could be maintained under 2% that was 1.4%

of Commercial Bank (BUKU) 2, with Common

slightly increased compare to 2015 that was

Equity of Rp1 trillion to less than Rp5 trillion.

1.3%. Information for Investor

7. Risk profile at the end of 2016 showed Low to

trillion compare to 2015 that was Rp8.36 3. Loan (gross) in 2016 reached Rp8.18 trillion

MANAGEMENT

6. Bank Health Index (TKB) score at the end of

5. Third Party Fund consists of Current Account, Saving Account and Time Deposits reached

9. The significant increasing share value of AGRO (298%) from Rp97 at the end of 2015 to Rp386 at the end of 2016.

in total of Rp9.22 trillion, increased by 34.4%

22

REPORT

2016 ANNUAL

compare to 2015 that was Rp6.86 trillion. On those proudly performance achievements, on behalf of the Board of Commissioners, we express our highest gratitude to all members of the Board of Directors and employees who have worked hard and have high dedication to develop Bank BRI Agro.

GOVERNANCE AND SUPERVISORY With those positive achievements, Bank

The Board of Commissioners encourages

focused high concern to the implementation of

the Board of Directors to be able to improve

good corporate governance (GCG). The Board

performance and comply to prevailing regulation

of Commissioners based on the Articles of

as well as good corporate governance principles,

Association provides feedback and advice on the

to grow healthy and sustainably.

Company’s performance report submitted by the Board of Directors every month. In addition, the

The Board of Commissioners had implemented

Board of Commissioners regularly (weekly) held

supervisory function and provided advice

meeting / discussion with Key Management to

in policies and operational to the Board of

listen directly the on going issues.

Directors, through regular monthly meeting, letters and recommendation in accordance with

The Board of Commissioners’ function is

the capacity and authorities.

supported by Audit Committee, Risk Monitoring Committee and Remuneration and Nomination

Based on Annual GMS stipulation in 2016, there

Committee. Audit Committee discusses

were changes on the COmpany’s management

investigation report result of Internal Audit

composition in which Mr. Heru Sukanto

Unit (SKAI) and monitors follow up taken

(President Director) and Mr. Sudarmin Sjamsoe

by working units, both in Head Office and

(Director) had completed their terms of office

Branch Office. Risk Monitoring Committee had

and replaced by Mr. I Komang Sudiarsa as

conducted risk management implementation and

President Director and Mr. Zainuddin Mappa

compliance monitoring in Bank. Remuneration

as Director. Furthermore, on the Board of

and Nomination Committee had evaluated

Commissioners, since Mr. Zainuddin Mappa

remuneration policies and provided input to

was appointed as Director, therefore to

nomination policies.

replace him, Mr. Saptono Siwi was appointed as Commissioner.

The future role of Bank BRI Agro has strategic




role in Agrobusiness sector, therefore the Board of Commissioners recommends the Board of Directors to prepare Human Resources who capable to face challenges in Agrobusiness sector, since the oppportunities are still widely open and


become one of the Government focuses currently

2016

ANNUAL REPORT

to improve agriculture sector.

23

PERSPECTIVE ON BUSINESS PROSPECT As stated by the Board of Directors, Bank

With thorough strategies implementation and

Business Plan 2017 had been prepared

supported by good and favorable economic

supported with thorough business strategies

condition, the Board of Commissioners believes

implementation plan, including policies in

that Bank BRI Agro will be able to achieve

business, operational, risk management,

the targeted growth in 2017. To ensure the

compliance and supervision as well as strategies

achievement of that growth, the Board of

in Human Resources (HR).

Commissioners requires all members of the Board of Directors and Company’s employees

By implementing those policies and strategies,

to work better and smarter as part of effort to

business prospect in 2017 as stated in Bank

improve the Bank’s performance.

Business Plan (RBB) 2017 is as follows: 1. Assets improvement is projected to increase by 38%, that is supported with Loan growth by 25%. 2. Third Party Fund is projected to grow in line with Loan growth in 2017 by 26%. Performance Highlights 2016

MANAGEMENT REPORT

Company Profile

24

REPORT

2016 ANNUAL


3. Therefore, net income is expected to increase significantly.

CLOSING Based on the explanation above, we believe

We would like to express our highest gratitude

that the duties of the Board of Commissioners

to Shareholders who always provide guidance

and mainly the Board of Directors as one of the

and assistance as well as additional capital to

Company’s management, objectively can be

BRI Agro. And we would like also to express our

assessed to be successful.

gratitude to debtors and depositors or other stakeholders who have given supports and loyalty

On behalf of the Board of Commissioners, once

to BRI Agro.

again we would like to express our highest appreciation to all employees and management

Herewith out report, thank you for the attention.

of Bank BRI Agro in improving the performance, implementing good corporate governance and directing Bank BRI Agro to prospective path to achieve sustainable profitability in the future.

Wassalamu’alaikum Wr. Wb.


Jakarta, March 15, 2017 PT Bank Rakyat Indonesia Agroniaga Tbk





2016

ANNUAL REPORT

25

Report From The Board of Directors

I KOMANG SUDIARSA President Director


MANAGEMENT LAPORAN MANAJEMEN REPORT

Company Profile

“

BANK’S PERFORMANCE OVERALL AS OF


DECEMBER 31, 2016 WAS IN HEALTHY

REPORT

FINANCIAL INDICATOR ACHIEVEMENT SUCH AS

“

2016 ANNUAL

CONDITION, AS MONITORED FROM MAIN

CAPITAL ADEQUACY RATIO AMOUNTED TO 23.68% THAT WAS STILL ABOVE THE MINIMUM CAPITAL RATIO AS PROVISIONED BY FINANCIAL SERVICE AUTHORITY.

26

Dear Honored Shareholders and Stakeholders, Assalamualaikum Wr. Wb., Om Swastiastu. God Bless us all.

Praise thanks to God Almighty for the mercy and

And then, on behalf of the Board of Directors

blessings to us all, so PT Bank Rakyat Indonesia

and all employees of BRI Agro, please allow us to

Agroniaga Tbk (“BRI Agro”) could pass through

present some main performance achievements

year 2016 with Good achievement.

of BRI Agro throughout 2016. The result of hardwork from the management and all employees, as well as support from Shareholders throughout 2016 can be reported in this Annual Report, as part of our responsibility on the mandate given by the Shareholders and also responsibility to all Stakeholders.


MACRO ECONOMIC AND BANKING INDUSTRY CONDITION The global economic condition in 2016 was still

Throughout 2016, banking industry endurance

unfavorable. The expectation of investors that

was still solid with credit, liquidity or market risk

economic condition in 2016 would be better, still

that could be maintained, as well as strong capital

not fully realized. The global economic condition

support. At the end of 2016, banking capital

was still slowdown with uncertainty conditions

adequacy ratio (CAR)was quite high, amounted

that impacted on the Indonesia’s economic.

to 22.93%, far above the minimum provision of



8%. Meanwhile non performing loan (NPL) even However, throughout 2016 Indonesia macro

though was high, but still on the range of 2.93%.

economic showed better financial stability and

From intermediation function, loan growth at

system as well as balanced economic adjustment

the end of 2016 was only 7.87% (YoY), lower

process. Indonesia economic growth throughout

than growth in 2015 that was 10.4% (YoY) as the

2016 was 5.01%, above the economic growth

impact of global economic slowdown. In addition, Bank Indonesia’s effort to implement

especially on infrastructure development

prudential macro policies was proven to be able

improvement.

to control Rupiah exchange rate that until the

2016

based on the Government’s consumption growth,

ANNUAL REPORT

in 2015 that was only 4.79%. This growth was


end of December 2016 was Rp13,436/USD. Moreover, inflation rate could be maintained on 3.02% (YoY) or lower than inflation rate in 2015 that was 3.35% (YoY) and Bank Indonesia rate (BI 7 Day Depo Rate) was 4.75% far lower than in 2015 that was 7.50%.

27

BUSINESS PERFORMANCE OF BRI AGRO IN 2016 Taking into account the global and national

The rapid loan portfolio growth shall be balanced

economic condition that had not fully recovered,

with DPK growth so that liquidity of BRI Agro

we should be thankful that the financial

could be maintained and well managed. This was

performance of BRI Agro was still able to show

reflected on the loan ratio to third party fund

good result.

amounted to 88.25%, a ratio on DPK usage that optimum and above the achievement in 2015

One of the strategic achievement of BRI Agro

that was 87.15%. In 2016, total customer savings

throughout 2016 was its success in booking loan

increased by 34% or reached Rp9,224 billion.

growth that was quite hight with maintained


quality. Bank’s performance overall as of

Income Revenue of BRI Agro increased by 22.7%

December 31, 2016 was in healthy condition,

to Rp965 billion in 2016, but the tight business

as monitored from main financial indicator

competition in loan caused Interest Expense of

achievement such as Capital Adequacy Ratio

BRI Agro also increased significantly by 26.1% or

amounted to 23.68% that was still above the

reached Rp543 billion. Even though BRI Agro has

minimum capital ratio as provisioned by Financial

to face unfavorable market condition, BRI Agro

Service Authority.

still successfully booked Net Income amounted to Rp103.0 billion or increased by 28.6% above

For loan portfolio, BRI Agro recorded growth by

the net income of previous year that was Rp80.5

35% in 2016 to become Rp8,179 billion. Loan

billion.

growth was main factor that drove growth of MANAGEMENT REPORT

Company Profile

total assets that reached 36.5% or Rp11,377

Those performance achievement of BRI Agro,

billion at the end of 2016. Main contributor in

reflected on the significant increasing stock value

this growth was financing in agribusiness sector

of AGRO (298%) from Rp97 at the end of 2015 to

amounted to 54% and non-agribusiness sector

Rp386 at the end of 2016.

amounted to 46%. That significant loan growth was accompanied with prudent principle implementation in bank


management and good risk management as well as taking into account compliance and good corporate governance aspects. This was proven

28

REPORT

2016 ANNUAL

with NPL (gross) achievement that could be maintained under 3% or on 2.88% (gross) and 1.40% (net).

DIRECTION OF POLICIES AND STRATEGIES IN BUSINESS DEVELOPMENT OF BRI AGRO IN 2016 Year 2016 was a continue of the previous year in conducting internal improvement in BRI Agro

3. Increasing capital through Limited Public Offering (PUT) VI.

to anticipate tightened competition in banking

4. Improving strategic partnership.

industry. With various information and plan to

5. Improving HR support and availability with

realize the target set as well as by addressing the condition of national economic, Management implemented some policies and strategies taken in developing its business, as follows: 1. Improving financing on retail sector,

high quality competency. 6. Improving information system, technology and internal business process. 7. Improving risk management function and compliance aspect.

especially agribusiness retail sector. BRI Agro kept trying to grab any market opportunities

The Board of Directors considered that those

in agribusiness SOEs, PTPN partner and other

actions not only matched with long term plan of

agribusiness private companies, that had not

BRI Agro development, but also matched to face

been served by Bank.

the condition in 2017, so that BRI Agro can have

2. Fertilization of Third Party Fund (DPK) adjusted with market updates and needs. Addressing the sensitive market need on

strong competitiveness in the midst of national banking industry competition.


interest rate, BRI Agro focused on fund development from captive market or core customers with efforts in saving account and current account development through


information technology development such as CMS implementation, mobile banking and others. Therefore CASA structure is expected to keep increasing as set in business plan.



2016

ANNUAL REPORT

29

BUSINESS PROSPECT IN 2017 Indonesia economic growth in 2017 is predicted

Meanwhile for Third Party Fund, in 2017

to be better than in 2016 that was 5.01%

is targeted to grow by 26% in line with the

apart from the pressure on national economic

loan growth with the target to retail fund

condition that will remain, both from domestic

customers so that in the future, BRI Agro’s fund

and also global economic influences.

structure will be better and stable. Those assets improvement is expected to be able to provide

However, BRI Agro is optimistic to face year

contribution to Income growth based on business

2017 that will be filled with challenges. We still

expansion throughout 2017.

see potential business prospect in agribusiness sector, especially in reading the existing potential

To support business target achievement,

to immediately set innovative actions for

BRI Agro plans to keep developing its human

improving performance and growth of BRI Agro

resources both quantity and quality, accompanied

in the future years.

with strengthening in GCG principles and risk management implementation.

Based on the set objectives and target in Bank Business Plan, Total Assets growth of BRI Agro Performance Highlights 2016

is projected to grow by 38% with the support of Loan growth that is targeted to grow on the range of 25% with target priority on retail sector, especially agribusienss retail sector.

MANAGEMENT REPORT

Company Profile

30

REPORT

2016 ANNUAL


CORPORATE GOVERNANCE As a financial institution who has intermediary

Since the banking external and internal

function within the society, we fully realized

environment had experienced a rapid

that Good Corporate Governance is a must.

development followed with more complex

GCG practices in Bank management not only

banking business activities risk especially product

limited to compliance on the prevailing rules

and service, therefore BRI Agro is continuously

and regulation, but had been developed further

improving risk management implementation to

as work culture of BRI Agro. We are aware on

support performance target achievement and

the importance of GCG implementation in all

business sustainability. Meanwhile, to participate

levels of organization in the Bank and preparing

in creating positive environment within the

structure and tools needed to ensure a thorough

society, in line with its mission, BRI Agri will

GCG implementation in all organization levels

strengthen its commitment to participate in CSR

and operations aspect, as well as fully supported

activities, that are believed to provide sustainable

by all employees of BRI Agro.

contribution and added values for Bank’s growth, as well as position the Bank as corporate citizen

Related with the Management composition of

with good social responsibility reputation.

BRI Agro, we need to report that in 2016 there were changes on the Board of Directors and


Commissioners’ composition of BRI Agro based on Annual GMS on April 20, 2016.


President Director, Heru Sukantor and Director, Sudarmin Syamsoe had completed their term of office and replaces by I Komang Sudiarsa and Zainuddin Mappa. Meanwhile Commissioners, Zainuddin Mappa was replaced by Commissioner,


Saptono Siwi who was a representative from Bank BRI as Controlling Shareholder. The complete composition of the Board of Directors


and Commissioners is as follows:

President Direcotr

I Komang Sudiarsa

Bambang Soepeno

Compliance Director

Mustari Damopolii

President/Independent Commissioner

Director

Zainuddin Mappa

Achmad Fachmi

Director

Zuhri Anwar

Independent Commissioner

Director

Sahala Manalu

Commissioner

Roswita Nilakurnia

Commissioner

Saptono Siwi

2016


ANNUAL REPORT

Board of Directors

31

APPRECIATION In this occasion, please allow us to express our

We believe that BRI Agro will achieve more

highest appreciation to all employees for their

significant and sustainable growth in the

dedication and hardwork to achieve positive

future to realize its vision to become a leading

result in 2016. We would like also to express

bank who focuses on agriculture sector in

our sincere gratitude on the support and trust

supporting national agribusiness. Consolidation

continuously given to us from the Board of

and transformation in all aspects that are

Commissioners, Shareholders, Government,

continuously conducted, will strengthen synergy

Bank Indonesia and OJK, business partners, loyal

in the future, not only synergy with holding

customers and other Stakeholders, who have

entity, but also all the Stakeholders.

contributed on the progress and growth of BRI Agro so far.

Wassalamu’alaikum Wr. Wb. Jakarta, March 15, 2017 Performance Highlights 2016

PT Bank Rakyat Indonesia Agroniaga Tbk

MANAGEMENT REPORT

Company Profile

32

REPORT

2016 ANNUAL



Responsibility Statement

Statement of the Board of Commissioners on 2016 Annual Report PT BANK RAKYAT INDONESIA AGRONIAGA TBK We, the undersigned hereby declare that all information presented in the 2016 Annual Report of PT Bank Rakyat Indonesia Agroniaga Tbk has been comprehensively published and that we are fully responsible for the accuracy of the contents of this annual report. This statement is hereby made in all truthfullness. Jakarta, March 20, 2017




MANAGEMENT REPORT

Company Profile

ROSWITA NILAKURNIA

ACHMAD FACHMI

Commissioner

Commissioner

REPORT

2016 ANNUAL


SAPTONO SIWI Commissioner

34

Statement of the Board of Directors on 2016 Annual Report PT BANK RAKYAT INDONESIA AGRONIAGA TBK We, the undersigned hereby declare that all information presented in the 2016 Annual Report of PT Bank Rakyat Indonesia Agroniaga Tbk has been comprehensively published and that we are fully responsible for the accuracy of the contents of this annual report. This statement is hereby made in all truthfullness. Jakarta, March 20, 2017

Board of Directors





MUSTARI DAMOPOLII

Director

Director

SAHALA MANALU

ZAINUDDIN MAPPA

Director

Director


ANNUAL REPORT

2016

ZUHRI ANWAR

35

Company Profile

CORPORATE DATA


Management Report

COMPANY

COMPANY NAME


Commercial Name

BRI Agro

Business Field

Banking

Head Office

BRI Agro Building, Jl. Warung Jati Barat No. 139 South Jakarta 12740

Phone

(021) 79199980, 80667600 (Hunting)

Faximile

(021) 79199950

Website

www.briagro.co.id

E-mail

[email protected]

Raring

id AA (Stable Outlook) from PT Pemeringkat Efek Indonesia (Pefindo)

Establishment Date

September 27, 1989

Establishment Legal Basis

Notary Deed of Raden Soekarsono SH No. 27 dated September 27, 1989. Bank’s Articles of Association had been ratified by Minister of Justice Republic of Indonesia with Decree Letter No. C.2-10019.HT.01.01TH.89 dated October 28, 1989 and announced on Republic of Indonesia State Gazette No. 96, Additional No. 3303, on December 1, 1989

Autorized Capital

Rp2,500,000,000,000

Paid Up Capital

Rp1,532,571,182,000

Tax Identification Number (NPWP)

09.03.1.64.38059

Service Office

1 Operational Head Office 16 Branch Offices 19 Sub Branch Offices 4 Cash Offices

Total ATM Network

Connected directly to all ATM Bank BRI and ATM Bersama network in all over Indonesia.

Total Employee

640 employees

Shareholder

PT Bank Rakyat Indonesia (Persero) Tbk. : 87.23% Plantation Pension Fund : 7.08% Public : 5.69%

Listed Stock Exchange

Indonesia Stock Exchange

Tick Code

AGRO/AGRO.JK

PROFILE

38

REPORT

2016 ANNUAL


COMPANY IN BRIEF Established by Dana Pensiun Perkebunan

As a commitment together with Bank BRI, in

(Dapenbun) on September 27, 1989, Bank

2012 during the 23th anniversary, Bank AGRO

AGRO has important and strategic roles in the

changed its name to BRI AGRO (“BRI AGRO”,

development of Indonesia agribusiness sector. As

or further called as “the Company”). On this

a bank that focuses on the agribusiness financing,

26 years of journey, the Company firmly work

since its establishment up to now, the loan

together with Bank BRI to serve truthfully. To

portfolio of Bank AGRO is mostly (between 60%-

show its commitment, the Company continuously

75%) distributed in agribusiness sector, both on

creating synergy with Bank BRI, as shown on the

farm and off farm.

accessibility of all customers that are able to use the Company’s ATM card in all Bank BRI ATM

Bank AGRO that was established based on

network for free that spread throughout the

Notarial Deed Akta Notaris Rd. Soekarsono,

nation.

S.H., di jakarta No. 27 dated September 27, 1989 earned business permit from Minister of Finance

Without distracting the initial focus of the

on December 11, 1989 and started operating

Company, agribusiness still becomes the main

commercially on February 8, 1990.

business pillar of the Company, but the Company continuously improving to provide complete

In 2003, Bank AGRO became public company

and excellent services for the customers. The

based on the approval of Bapepam-LK No.

Company’s saving, time deposing and demand

S-1565/ PM/2003 dated June 30, 2003,

account as well as grand prize program present

therefore the name changed to PT Bank

to answer the saving and investment needs from

Agroniaga Tbk and in the same year listed its

the customers, meanwhile the Company’s loan

shared in Surabaya Stock Exchange, and in 2007,

facility can be utilized to develop the customers’

the share of Bank AGRO with tick code AGRO

business.



was listed in Indonesia Stock Exchange. In 2006, Bank AGRO upgraded its status to Foreign

To support all of those the Company is

Exchange Commercial Bank based on the Decree

supported by office and services network that

Letter of Bank Indonesia Governor No. 8/41/Kep.

keep expanding and improving. Currently, the

GBI/2006 dated May 8, 2006.

Company has 1 Operational Head Office, 16 Branch Offices, 19 Sub Branch Offices and 4 Cash

On March 3, 2011, with the signing of Acquisition Deed between PT Bank Agroniaga Tbk and Bank

Offices.



Rakyat Indonesia (BRI) with Dapenbun in Jakarta, Bank BRI officially became the Controlling

2016

ANNUAL REPORT

Shareholder of PT Bank Agroniaga Tbk.

39

CORPORATE Identity

Logo of BRI Agro is a corporate logo with Holding Company’s logo element and color which is “Bank BRI Logo” as a symbol of BRI Incorporated. Elements in logo of BRI Agro:

LOGO GRAM is Holding Company’s logo Performance Highlights 2016

Management Report

LOGO TYPE is Holding Company’s name and Subsidiaryas the identity of BRI Agro as a Bank who focuses on serving agribusiness sector.

COMPANY PROFILE


40

REPORT

2016 ANNUAL

LOGO COLOR Color used is derivative color from the Holding Company’s logo which are Blue and Orange.

MILESTONE MARCH 17, 2016

Inauguration of BRI Agro Head Office Building NOVEMBER 18, 2016

Right Issue/PUT VI

2016 Additional Capital through PUT V so that Bank enters the category of BUKU 2. Implementation of new core banking BRIAGRONETS.

2015 2014

Additional Capital through PUT IV on June.

Bank AGRO changed the name and logo to Bank BRI AGRO.

Increasing capital through PUT III and Warrant Series I Issuance.

Additional Capital on April 2005 through PUT II.

On September 27, 1989Bank Agro was established by PLANTATION PENSION FUND.

ANNUAL REPORT

2003

Additional Capital through PUT I.


2016

Becoming Public Bank on June.

1989


Increasing Capital without HMETD.

2006 2005

Listed on Stock Exchange on August.


2011 2009

Becoming Foreign Exchange Bank.


2013 2012

Acquisitioned by Bank BRI.

Earned “AA-” rating from Rating Institution PEFINDO.

41

COMPANY’S VisiON AND MiSsiON

VISION Become the leading commercial bank with focus on agriculture sector to support agribusiness development in Indonesia

Vision and Mission of BRI Agro were prepared by Bank BRI as Holding Company during acquisition process by taking into account business focus and Performance Highlights 2016

Management Report

COMPANY PROFILE

REPORT

2016 ANNUAL


characteristic of BRI Agro.

MISSION Conducting best banking activities in Small and Medium Enterprises (SMEs) segment especially in agribusiness sector to support community economy improvement by taking into account environmental preservation. Fulfilling main needs, services, and good quality of banking services, supported by professional and high integrity Human Resources in implementing good corporate governance. Providing optimum benefit for stakeholders.

42

work culture

integrity professionalism customer satisfaction exemplary rewards to human resources

10 initial actions 1. Discipline in attendance time in office, meeting, and other activities that is on-time (not late);


2. Pray in the morning before work; 3. Use office facilities for corporate interest efficiently and optimally; 4. Maintain cleanliness, neatness and orderliness in work space and work equipment optimally; 5. Deliver report accurately and timely;


6. Answer the phone latest before the third ring; 7. Serve the customers with smile, greet and say thank you; 8. Assist peers or subordinates in any difficulties/problems in work; 9. Appreciate other employees;


10. Provide rewards/appreciation directly to employees who well performed. Corporate Social and Environmental Responsibility

2016

ANNUAL REPORT

43

BUSINESS FIELD Based on Company’s Articles of Association

Based on that Articles of Association, business

Article 3 act 1, BRI Agro engages business

activities operated by BRI Agro including fund

activities in Commercial Bank in accordace with

collection from public in the form of current

the prevailing provisions and rules as well as

account, time deposits, certified deposits, saving

constitutions in Indonesia.

account and/or other types, providing loan, and other general Banking activities, as well as foreign exchange transactions.

products and services In business activities operated, BRI Agro improves the Performance Highlights 2016

quality of its products and

1. BRI Agro Deposits (Rupiah)

services to the customers.

2. BRI Agro Deposits (Foreign

This improvement aims to Management Report

Deposits

Exchange)

Loan 1. Retail Loan • Investment Loan • Working Capital Loan

enable BRI Agro to own high

3. On Call Deposits (DOC)

• Cash Collateral Loan

competitive advantage in

4. “Ayo Bergoyang” Grand Prize

• Construction Loan

banking industry.

Deposits Program

• Overdraft Loan 2. Consumer Loan

Below are the products and COMPANY PROFILE

• Productive Employee

services of BRI Agro:

Banking Services Saving Account 1. Export/import transaction


1. BRI Agro Saving Account (Rupiah) 2. “Ayo Bergoyang” Grand Prize

REPORT

2016 ANNUAL

Saving Account Program

2. Bank Guarantee 3. Loan Letter Domestic Documented 4. LLG and RTGS Transfer

3. Infiniti Saving Account

5. Clearing

4. Multima Saving Account

6. Foreign Exchange

5. TabunganKu 6. Simpel Saving Account

Transaction 7. Save Deposit Box

Loan • SHT (Hari Tua Saving) Loan • Pension Loan • Agro Griya Loan • Agro Mobil Loan • Multiguna Loan 3. Loan Program • KKPE Loan Program • KPEN RP Loan Program • KKPA Commercial Loan Program 4. Medium Loan

Current Account

• Working Capital Loan 1. BRI Agro Current Account

Treasury Services

(Rupiah) 2. BRI Agro Current Account (Foreign Exchange)

44

• Investment Loan • Construction Loan

Foreign Exchange Transaction

• Overdraft Loan

(Tod, Tom, Spot, dan Forward)

• IDC Loan

organization structure The Company’s organization structure based on the Board of Directors’

GSM

Decree Letter No. Kpts.24/DIR.01.02/


MSDM/X/2012 dated October 25, 2012 concerning Organization Structure of PT Bank Rakyat Indonesia Agroniaga, Tbk is as follows:

President Director I Komang Sudiarsa

Business Director Zuhri Anwar

Agri Business Division Fathorrahman

Commercial Business Division Novinsa Indra

Retail & Consumer Business Division Andri Widiya

Loan & Funding Risk Control Director

Operational & Financial Director

Sahala Manalu

Zainuddin Mappa

Loan Risk Control Division

Operational Division

Novel Jackson R.

Fund & Service Division Indra Subhan Nasution

Jalik Ruspandi

Information Technology Division Simon Martin

Desk Treasury Prambudiarso

Compliance Director Mustari Damopolii

Compliance, Risk Management & Legal Division Vivery Ujiastuti

SKAI Division


Agus Suprapto

Corporate Secretary Division Hirawan Nur Kustono



MSDM Division Anggraini Karmanita


Desk Change Management

2016

ANNUAL REPORT

Sabir Aziz

Branch Office Sub Branch Office Cash Office

45

board of commissioners No. name

position

1

Bambang Soepeno

Presindet Commissioner and Independent Commissioner

2

Roswita Nilakurnia

Commissioner

3

Achmad Fachmi


4

Saptono Siwi

Commissioner

board of directors No. name


Management Report

COMPANY PROFILE

46

REPORT

2016 ANNUAL


position

1

I Komang Sudiarsa

President Director

2

Mustari Damopolii

Compliance Director

3

Zuhri Anwar

Business Director

4

Sahala Manalu

Loan & Funding Risk Control Director

5

Zainuddin Mappa

Operational & Financial Director

executive officers No.

name

position

1

Agus Suprapto

Head Division of SKAI

2

Hirawan Nur Kustono

Head Division of Corporate Secretary

3

Anggraini Karmanita

Head Division of MSDM

4

Indra Subhan Nasution

Head Division of Fund & Service

5

Jalik Ruspandi

Head Division of Operational

6

Novinsa Indra

Head Division of Commercial Business

7

Fathorrahman

Head Division of Agri Business

8

Andri Widiya

Head Division of Retail & Consumer Business

9

Novel Jackson R.

Head Division of Loan Risk Control

10

Vivery Ujiastuti

Head Division of Compliance, Risk Management and Legal

11

Simon Martin

Head Division of Information Technology

12

Sabir Aziz

Head of Desk Change Management Equal to Vice Head Division

13

Prambudiarso

Head of Desk Treasury Equal to Vice Head Division

14

Suharno

Head of Branch Office Jakarta - Kuningan

15

Wahyudi Dwi Irawan

Head of Branch Office Surabaya

16

Selamat Riadi

Head of Branch Office Medan

17

Novy Tjahya Indrianto

Head of Branch Office Pekanbaru

18

Gabriel Hendra Kurniawan

Head of Branch Office Semarang Head of Branch Office Bandar Lampung Head of Branch Office Rantau Prapat

21

Muhammad Nasar

Head of Branch Office Pontianak

22

Johan Jacob Saleh

Head of Branch Office Bogor

23

Anton Suhartanta

Head of Branch Office Solo

24

Iman Yusuf

Head of Branch Office Palembang

25

Sugiyardono

Head of Branch Office Bandung

26

Fasya Salman Alfarizi (Pjs.)

Head of Branch Office Jambi

27

Haris Rahman

Head of Branch Office Balikpapan

28

Hesti Herayati

Head of Branch Office Cikarang

29

Achmad Farid

Head of Branch Office Makassar



2016

Yungki Pramono Jaya Pratama Silalahi


ANNUAL REPORT

19 20


47



Management Report

48

REPORT

2016 ANNUAL


ACHMAD FACHMI

SAPTONO SIWI

Commissioner

Commissioner

BAMBANG SOEPENO

ROSWITA NILAKURNIA

President Commissioner

Commissioner

Board of Directors





ZAINUDDIN MAPPA

Director

President Director

Director

MUSTARI DAMOPOLII

SAHALA MANALU

Director

Director

2016

I KOMANG SUDIARSA

ANNUAL REPORT

ZUHRI ANWAR

49

board of commissioners’ profile

ROSWITA NILAKURNIA Commissoner Indonesian citizen, 50 years old. Served as President Commissioner of PT Bank Agroniaga


Tbk since November 2009 until May 2011,

BAMBANG SOEPENO President Commissoner Management Report

COMPANY PROFILE

REPORT

2016 ANNUAL


and regained mandated to be assigned as Commissioner in Company’s General Meeting

Indonesian citizen, 64 years old. Currently

of Shareholders on March 25, 2015 up to now.

serving as President Commissioner and

Earned Bachelor of Economy Degree in 1992 and

Independent Commissioner of PT Bank Rakyat

Master of Science Management (MSM) Degree

Indonesia Agroniaga Tbk (BRI Agro) since March

in 2009, both from University of Indonesia (UI).

2014. Completed his latest study in St. Louis

Serving as President Director of Plantation

University, United States of America majoring

Pension Fund (Since May 2009 until now),

in International Business (MBA). His banking

previously served as Financial Director of PT

carrer was started in Bank Rakyat Indonesia at

Risna Karya Wardhana (October 2008-April

the beginning of 1981 until 2011. Ever served as

2009), Managing Director of PT Overseas

Compliance Director in 2006-2009, then SMEs

Securities (2007-2008), Teaching Staff of

Director in 2009-2010 and his last position was

Economic Faculty-UI (1992-present). President

as Compliance Director in 2010-2011. In his

Director of AAJ Batavia (2004-2006) and

carrer journey at BRI, he was ever trusted to be

Managing Director of AAJ Associates Corporate

assigned as BRI Pension Fund Director in 2002 -

Finance Advisory Group (1997- 2006), Senior

2004 and then served in Bank BRI Syariah (2011-

Advisor AAJ Associates (1992-1997) and Senior

2014) as President Commissionera. In 2014 until

Advisor in Flagler Management Advisory (1992).

now he is serving as the Company’s President Commissioner.

50

Commissioner of BRI Agro since 2011-2015,

ACHMAD FACHMI Commissoner Indonesian citizen, 60 years old. Assigned as Independent Commissioner of PT Bank Rakyat


Indonesia Agroniaga Tbk based on GMS on April 3, 2013. Completed his Bachelor Degree in Faculty of Corporate Economy from State

SAPTONO SIWI

University of Jember (UNEJ) in 1982, and Master

Commissoner

Degree from Bogor Agriculture Institute (IPB). Perum PKK Fiannce Department (1982-1990),

Commissioner since the Company’s General

continued in Bank Bukopin Jakarta (1990-2011)

Meeting of Shareholders on April 20, 2016.

asSpecial Staff of SMEs Director & Account

Earned Bachelor of Economy Degree from

Officer (September 1990 - May 1992), Head of

Padjajaran University, Bandung and Master

Cooperative Loan Business Development Unit

of Law Degree from Gadjah Mada University,

(May 1992 - September 1993), Head of Small

Yogyakarta. His banking carreer was through PT

Business and Cooperative Unit (September

Bank Rakyat Indonesia (Persero) Tbk, started

1993 - December 1994), Head of Loan Program

as trainee student in 1987. Several important

and Cooperative (December 1994 - February

positions had been hold, among others as Head

2000), Group Head SMEs Business East Java

of Branch in some cities (1997-2009), and then

& Bali Region (February 2000 - June 2001),

Vice Regional Head in Bank BRI (2009-2011),

HEad of Branch Class A Surabaya (June 2001 -

Special Head of Branch in Bank BRI (2011-

April 2006), Head of Business Compliance Risk

2012), Inspector of Malang Inspection Office

Management & Compliance Directorate (April

Bank BRI (2012-2014), Inspector of Jakarta 1

2006 - July 2006), and Head of Commercial Loan

Inspection Office Bank BRI (2014), Head of Loan

I Division - Head Office Jakarta (2006 - 2011).

Administration Division Bank BRI (2015) and



2016

Indonesian citizen, 56 years old. Served as

ANNUAL REPORT

His career started in cooperative and SMEs in


Senior Executive Vice President/Head of Internal Audit PT Bank Rakyat Indonesia (Persero) Tbk 2015-2016.

51

BOARD OF DIRECTORS’ PROFILE


I KOMANG SUDIARSA President Director Indonesian citizen, 57 years old. Served as

Management Report

President Director of PT Bank Rakyat Indonesia Agroniaga Tbk since the Company’s General

ZUHRI ANWAR

Meeting of Shareholders on April 20, 2016.

Director

Earned Bachelor of Economy Degree from COMPANY PROFILE

REPORT

2016 ANNUAL


Udayana University, Bali. His banking career

Indonesian citizen, 56 years old. His last

was through PT Bank Rakyat Indonesia (Persero)

education was Master of Management Degree,

Tbk, started as trainee student in 1985. Few

Hasanuddin University, Makassar. His banking

times hold positions as Head of Branch in Bank

career was throuh in PT Bank Rakyat Indonesia

BRI since 1993 until 2002. And then served as

(Persero) Tbk (BRI), started as trainee student

Vice Regional Head in Bank BRI (2002-2007),

in 1986. Several important positions had been

Regional Head Manado Bank BRI (2007-2008),

held among others were Head of Branch Office

Head of Institutional Relationship Division

BRI Maros, Makasar (1999-2002), Head of KCK

Bank BRI (2008-2012), Head of Institutional

Loan Service BRI (2002-2004), Head of Special

Relationship 1 Division Bank BRI (2013-2014),

Branch Office Loan Unit, Jakarta (2004- 2006),

Head of SOEs 2 Business Division Bank BRI

Head of Policies and Loan Development Unit,

(2014-2016) and President Commissioner of PT

Retail Loan Division (2006-2008), Assistant Vice

Bringin Sejahtera Makmur (2014-2016).

President, Retail Loan Division BRI (2008-2009), Vice President, Agribusiness Division BRI (20092011), Then in General Meeting of Shareholders on May 2, 2011 was assigned to become Director of PT Bank Rakyat Indonesia Agroniaga Tbk.

52

MUSTARI DAMOPOLII Director Indonesian citizen, 60 years old. His last formal education was Master of Management from University of Diponegoro, Semarang. His banking career was through in PT Bank Rakyat Indonesia (Persero) Tbk, started as a trainee in 1985. Then various positions had been hold among others were head of Branch Office BRI Sidrap, Makassar (1992-1995), Head of Branch Office BRI Padang (1995-1998), Head of Branch Office BRI Pekalongan (1998-2002), Head of Branch Office BRI Cimahi (2002-2004), Head of Branch Office BRI Jakarta Kota (2004-2007), Vice Inspector Inspection Office BRI Padang (2007-2008), Vice Regional Head BRI Makasar (2008-2009), Vice Regional Head BRI Surabaya (2009-2010), and Vice Regional Head BRI Jakarta 1 (2010). And then on General Meeting of Shareholders (GMS) on May 2, 2011 was appointed to become

appointed him again to become Director of BRI Agro.

Indonesian citizen, 57 years old. His last formal education was in Master of Management Degree from University of Diponegoro Semarang,


Central Java, focusing in Finance. Prior to that, he earned Bachelor Degree from Faculty of Economy University of Krisna Dwipayana, Jakarta. His banking career was through Bank


BRI since the beginning as trainee student on April 1985. Since October 1986 he was appointed as Staff I (Temporary Employee) in Branch Office Semarang, as Account Officer. July 1988 - June 1990 Staff II also in Branch


Office Semarang. July 1990 - June 2007 assigned as Head of Branch in some regions, on June 2007 as Vice Regional Head that was eselon II officer. Between July 2007 - May 2009 became Vice Regional Head Manado, between June

2016

Tbk (BRI Agro) and on March 25, 2015, GMS

Director


ANNUAL REPORT

Director of PT Bank Rakyat Indonesia Agroniaga

SAHALA MANALU

2009 - April 2011 became Vice Regional Head Semarang, and between May 2011 - April 2012 became Vice Regional Head Jakarta. On General Meeting of Shareholders on April 18, 2012, was appointed to become Director of PT Bank Rakyat Indonesia Agroniaga Tbk.

53


ZAINUDDIN MAPPA Director Indonesian citizen, 55 years old. Earned Bachelor

Management Report

Degree in 1985 and Master Degree in 2013 from University of Hasanuddin, Makassar. His career began as teacher at University of Hasanuddin, Makassar (1986-1987), and joined with Bank

COMPANY PROFILE

BRI as Staff I Fund Service Unit Head Office BRI (1989), his career continued in BRI as Staff II Fund Service Unit Head Office (1990), Staff II Corporation Unit (1990-1991), Financial Analyst


of Corporation Unit Head Office (1991-1992), Vice Branch Head Malang Kawi (1992-1994), Head of Branch Selat Panjang (1994-1996), Head

REPORT

2016 ANNUAL

of Branch Jakarta Segitiga Senen (1997-2000), Head of Branch Jakarta Jatinegara (2001-2003), Vice Regional Head Makassar (2004-2005), Vice Regional Head Medan (2005-2007), Vice Head Division Commercial Business Bisnis Head Office (2007-2009), Regional Head BRI Medan (2009-2010), Head of Corporation Business Division Head Office (2010-2012), Head of Audit Semarang Region (2012-2014).

54

members of audit committe’s profile

EKA SRIYANTINI Member Joined as member of Audit Committe of PT Bank Rakyat Indonesia Agroniaga Tbk, on March 2015. Work Experience: • Head of Internal Audit (SKAI) PT BRI


Yogyakarta Region. • Head of Internal Audit (SKAI) PT BRI Banjarmasin Region. Education:


• Bachelor of Law from University of Indonesia. • Master of Notary (S2) from University of Gajah Mada Competency/Certification:


• Qualified Internal Audit (QIA) • Risk Management Certification -BARA


2016

ANNUAL REPORT

55

SETIAWAN KRISWANTO Member


Currently serves as Audit Committee’s member

Education:

in PT Bank Rakyat Indonesia Agroniaga Tbk since

• Indonesian State College of Accountancy (STAN)

February 1, 2016, and as Risk Control Committe’s member in PT Bank Rakyat Indonesia Agroniaga Tbk since February 1, 2015.

Jakarta, • Indonesia Economics School (STIESIA) Surabaya and • Master Degree from University of

Management Report

Work Experience: Development Supervisor Agency (BPKP) • Head of Operational Division, Head of Internal

COMPANY PROFILE


Audit (SKAI) and Head of Operations Division PT. Bank Dagang Industri,

REPORT

• Registered Accountant D 10478, Registered Accountant Nations • RNA 2140, Certified Professional Management • Accountant (CpMA) - IAMI, Chartered

Indonesian Bank Restructuring Agency (BPPN),

• Accountant (CA) - IAI, Certification of

• Audit Committee’s member of Bank Danamon and Bank BII, BRI Agro and other Companies. Danamon.

2016 ANNUAL

Competency/Certification:

• Head of Temporary Management Team (TPS) in

• Risk Control Committee’s member in Bank

56

Krisnadwipayana (UNKRIS) Jakarta.

• Worked as senior auditor in Financial and

• Currently serving as Committe’s member in other companies.

assessor of competency – National Profession Certification Agency (BNSP) / Banking Profession Certification Agency (LSpp).

Members of risk control committe’s Profile

SIHAR MORENO HUTABARAT Member

RETNO SURDINI Member Indonesian citizen, completed his study from

Indonesian citizen, earned Bachelor of

Bogor Agriculture Institute (IPB) in 1980. He

Management Economy from Unika Parahyangan

ever served as Head of Compliance Division of

Bandung in 1986 and Master of Financial

Bank BRI, Head of Internal Audit Unit (SKAI) BRI

Management from University of Airlangga

Jakarta III Region, and Head of BRI Education and

Surabaya in 2000.

Training Division.

Starter his career in Bank BRI as a trainee



(1988), then continued his carreer in Bank BRI as Account Office BRI Tanjungpriok Jakarta (1989), Senior Account Officer BRI Gunung Sahari (1990), Marketing & Lending Officer in


BRI Tanjung Karang Lampung (1992), Head of Branch BRI Sungailiat (1994), Head of Branch BRI Sanggau (1997), Staff/Head of Unit in Regional Office BRI Surabaya (1998), Staff/Head of Unit in Regional OfficeBandung (2001), Head of Branch


in Teluk Betung Lampung (2002), Head of Branch

Vice Regional Head Semarang (2011), Vice Regional Head Surabaya (2012), Inspector (Head

2016

(2008), Vice Regional Head Denpasar (2009),

ANNUAL REPORT

in Medang (2006), Head of Branch in Gresik

of Inspection Office) in Jakarta BSD (2014).

57

members of nomination and remuneration committee’s profile

A. KARMANITA Member Indonesian citizen, completed her last Master Degree of Management from IPB Bogor in 2006. Performance Highlights 2016

Started her carreer in Bank BRI since 1986 and experienced in Audit field since 2008 until 2009. Served as Head of MSDM Division in BRINGIN Life Insurance since 2009-2013. Have been

Management Report

COMPANY PROFILE

58

REPORT

2016 ANNUAL


serving as Head of MSDM Division in BRI Agro since 2013 up to now.

HOLDING ENTITY Bank BRI

Bank BRI In Brief The history of PT Bank Rakyat Indonesia

Bank BRI continuously balancing its business

(Persero), Tbk (BRI) started since December

development with society demographic

16, 1895 in Purwokerto, Central Java under

development by keep improving its services in

the name “Hulp en Spaarbank der Inlandsche

accordance with the needs of Indonesia society.

Bestuurs Ambtenaren” that later officially changed to “Bank Rakjat Indonesia” since

In addition to focusing in SMEs segment, Bank

December 18, 1968 based on Law No. 21 year

BRI also continuously developing various

1968. Since 1992, the status of Bank BRI changed

consumer banking products and institutional

to limited company with 100% ownership of Bank

services. To support that effort, Bank BRI

BRI from the Government of the Republic of

continuously expanding its work network until

Indonesia that later in 2003 Bank BRI conducted

now becomes the largest bank in term of work

Initial Public Offering (IPO) so the Government’s

unit in Indonesia, amounted to 10,396 work units

share ownership in BRI changed to 56.75%,

including 3 international branch offices that are

meanwhile the rest of 43.25% owned by the

connected real time online.

public shareholders. With the big total customer base as seen in the As the oldest commercial bank, Bank BRI

total accounts that is more than 49 million saving

consistently providing services to micro, small

accounts, Bank BRI continuously developing

and medium enterprises (SMEs) segment and

e-banking services that can be accessed by public

until now, Bank BRI is able to maintain that

through internet, phone, Short Message Service/

commitment in the midst of Indonesia banking

SMS, and other e-channel services including

industry competition.

Automatic Teller Machine (ATM), Cash Deposit Machine (CDM), Electronic Data Capture (EDC),

Supported by mature experiences and ability

and KiosK with total e-channel network is more

in providing banking services, mainly in

than 175,000 units.





SMEs segment, Bank BRI is able to record its Indonesian bank with the highest profit. This

for micro enterprises operating in traditional

success was the result of hard work from all

markets through Teras BRI that was launched

people of Bank BRI that continuously improving

since the end of 2009. Teras BRI is aimed to reach

the competency, innovating and developing

the sellers in traditional market that previously

banking products and services for all business

has not been reached by banking services

segments.

optimally.

2016

Bank BRI also improving the banking services ANNUAL REPORT

achievement for 10 consecutive years as an

59

On December 20, 2013, as part of Bank BRI

As a bank that operates in the fourth biggest

commitment to improve the convenience and

population in the world, Bank BRI will consistent

accessibility for customers in transaction, Bank

with its aim to be main partner for society in

BRI officially launched BRI Hybrid Lounge, a

Indonesia in developing their economy. All

hybrid machine equipped with the first self

excellence of Bank BRI is now supported with

service banking facilities in Indonesia and

the stronger position of financial statement that

integrated e-channel network including ATM,

is considered to improve its ability in stimulating

CDM, EDC, and Internet Banking. By using

the acceleration of economy growth sustainably

e-KTP only as source of data information that is

in the future in accordance with the live quality

connected and integrated with the population

improvement of Indonesian society.

data of Ministry of Domestic Affairs, customers can open saving account only in 4 minutes by filling the electronic form. Bank BRI is the first bank that implementing e-KTP as the customer data source as part of the cooperation with Ministry of Domestic Affairs.


Management Report

COMPANY PROFILE

60

REPORT

2016 ANNUAL


Working Unit & e-Channel BRI Network Currently BRI serves all customers through

4 Overseas working unit consists of:

more than 10,643 working units and 283.453

1. Hongkong Representative Office

e-channel network spread throughout Indonesia.

2. BRI New York Agency 3. BRI Singapore Offshore Branch

BRI operates 8 jservice office levels, consist

4. BRI Cayman Island Branch

of Head Office, 19 Regional Offices, 1 Special Branch Office, 466 Branch Offices (including 4 Overseas Working Units), 609 Sub Branch Offices, 984 Cash Offices, 5.380 BRI Units, 2.545 Teras BRI and 638 Mobile Teras BRI.

working unit

2012

Head Office

2013

2014

2015

2016

1

1

1

1

1

18

18

19

19

19

1

1

1

1

1

Branch Office

445

452

460

466

466

Sub Branch Office

545

565

584

603

609

5.000

5.144

5.293

5.360

5.380

914

950

971

983

984

1.778

2.206

2.457

2.543

2.545

Regional Office Special Branch Office

BRI Unit Cash Office Teras BRI

350

465

610

635

635

0

0

0

1

3

9.052

9.802

10.396

10.612

10.643

Boat Total Operational Working Unit



Mobile Teras BRI Car



* Total Working Unit including in Overseas Working Unit Description: only number

2013

2014

2015

2016

2012

ANNUAL REPORT

E-Channel

2016

ATM

14.292

18.292

20.792

22.792

24.292

EDC

44.715

85.936

131.204

187.758

257.712

CRM

92

192

392

892

1.392

E-Buzz

42

50

55

57

57

Jumlah

59.141

104.470

152.443

211.499

283.453

61

Financial Data of Bank BRI LAPORAN POSISI KEUANGAN Bank Uraian

2016

Konsolidasian

2015

2016

2015

dalam jutaan Rupiah

A SET Kas

28.865.133

28.470.316

25.212.024

28.771.635

124.851.387

95.641.785

128.429.011

99.752.721

Penempatan pada bank lain

16.442.192

20.641.062

15.900.916

20.911.021

Tagihan spot dan derivative

93.649

-

91.657

-

-

273.714

666.169

929.334

b. Tersedia untuk dijual

64.816.396

49.427.382

68.855.281

52.359.270

c. Dimiliki hingga jatuh tempo

50.646.872

59.347.119

57.922.276

63.880.149

d. Pinjaman yang diberikan dan piutang

9.345.472

7.280.883

9.345.472

7.280.883

Surat berharga yang dijual dengan janji dibeli kembali (nego)

7.358.032

11.583.498

7.358.032

11.583.498

Tagihan atas surat berharga yang dibeli dengan janji dijual kembali (reverse repo)

1.557.370

845.125

1.557.370

845.125

Kredit

5.602.843

5.138.671

5.692.583

5.163.471

a. Diukur pada nilai wajar melalui laporan laba/rugi

-

-

-

-

b. Tersedia untuk dijual

-

-

-

-

c. Dimiliki hingga jatuh tempo

-

-

-

-

635.304.499

558.446.721

643.484.253

564.491.243

Pembiayaan Syariah

-

-

17.256.787

16.261.754

Penyertaan

-

-

2.070.300

16.261.754

5.783.220

4.949.988

2.439

269.130

-

-

(758)

(758)

(21.944.371)

(17.030.352)

(22.184.296)

(17.162.183)

-

-

-

-

Penempatan pada Bank Indonesia

Surat Berharga a. Diukur pada nilai wajar melalui laporan laba rugi


Management Report

COMPANY PROFILE

REPORT

2016 ANNUAL


d. Pinjaman yang diberikan dan piutang

Cadangan kerugian penurunan nilai asset keuangan -/a. Surat berharga b. Kredit c. Lainnya

62

Bank Uraian

2016

Konsolidasian

2015

2016

2015

dalam jutaan Rupiah

Asset tidak berwujud

-

-

491.128

394.868

Akumulasi amortisasi asset tidak berwujud -/-

-

-

(21.742)

(21.742)

Aset tetap dan inventaris

31.233.047

13.982.469

32.262.349

14.687.468

Akumulasi penyusutan asset tetap dan inventaris -/-

(7.255.098)

(6.231.273)

(7.747.290)

(6.648.188)

a. Properti terbengakalai

26.314

9.191

26.314

9.191

b. Asset yang di ambil alih

31.890

29.7780

269.138

84,191

-

-

-

-

457

393

457

393

-

-

-

-

Cadangan kerugian penurunan nilai dari aset non keuangan -/-

-

-

-

-

Sewa pembiayaan

-

-

-

-

2.328.530

1.806.780

2.520.932

1.983.774

12.913.856

11.459.127

14.183.624

12.662.052

845.998.379 1.003.644.426

878.426.312

Aset non produktif

c. Rekening tunda d. Aset antar kantor -- Melakukan kegiatan operasional di Indonesia -- Melakukan kegiatan operasional di luar Indonesia

Aset pajak tangguhan Aset lainnya Total Aset

964.000.690




L I A B I L ITA S DA N EK UITA S Liabilitas 112.988.721

151.419.020

113.429.343

297.649.283

267.607.038

298.110.406

268.058.865

Simpanan berjangka

285.432.096

262.178.245

293.029.378

267.844.865

-

-

21.967.570

19.622.767

109.664

77.676

109.664

77.676

2.295.091

11071.971

2.739.697

11.871.812

344.865

445.753

347.217

445.753

7.302.398

11.377.958

7.302.398

11.377.968

Dana investasi revenue shaving Pinjaman dari bank Indonesia Pinjaman dari bank lain Liabilitas spot dan derivative Utang atas surat berharga yang dijual dengan janji dibeli kembali (repo) Utang akseptasi

5.602.843

5.138.671

5.692.583

5,163.471

Surat berharga yang iterbitkan

24.936.730

10.268.606

24.800.781

10.267.279

Pinjaman yang diterima

34.619.213

35.420.946

36.000.783

35.520.946

13.490

16.423

14.172

16.856

Setoran jaminan


2016

140.764.079

Tabungan

ANNUAL REPORT

Giro

63

Bank Uraian

2016

Konsolidasian

2015

2016

2015

dalam jutaan Rupiah

Liabilitas antar kantor a. Melakukan kegiatan operasional di Indonesia

-

-

-

-

b. Melakukan kegiatan operasional di luar Indonesia

-

-

-

-

Liabilitas pajak tangguhan

-

-

-

-

19.473.220

16.750.798

25.298.167

21.308.179

-

-

-

-

818.542.972

733.606.581

856.832.836

765.299.133

a. Modal dasar

15.000.000

15.000.000

15.000.000

15.000.000

b. Modal yang belum disetor -/-

(8.832.709)

(8.832.709)

(8.832.709)

(8.832.709)

c. Saham yang dibeli kembali (treasury stock)-/-

(2.418.948)

(2.286.375)

(2.418.948)

(2.286.375)

2.773.858

2.773.858

2.773.858

2.773.858

b. Disagio -/-

-

-

-

-

c. Modal sumbangan

-

-

-

-

d. Dana setoran modal

-

-

-

-

e. Lainnya

-

-

-

-

a. Penyesuaian akibat penjabaran laporan keuangan dalam mata uang asing

23.490

49.069

23.490

49.069

b. Keuntungan (kerugian) dari perubahan nilai asset keuangan dalam kelompok tersedia untuk dijual

103.891

(1.039.129)

75.618

(1.145.471)

-

-

-

-

13.824.692

-

13.824.692

-

-

-

-

-

654.637

532.411

665.870

541.468

Liabilitas lainnya Dana investasi profit sharing Total Liabilitas Ekuitas Modal disetor


Tambahan modal disetor Management Report

COMPANY PROFILE

REPORT

2016 ANNUAL


a. Agio

Pendapatan (kerugian) komprehensif lainnya

c. Bagian efektif lindung arus kas d. Keuntungan revaluasi asset tetap e. Bagian pendapatan komprehensif lain dari entitas asosiasi f. Keuntungan (keuangan) akturial program manfaat pasti

64

Bank Uraian

2016

Konsolidasian

2015

2016

2015

dalam jutaan Rupiah

g. Pajak penghasilan terkait dengan laba komprehensif lain

-

-

-

-

h. Lainnya

-

-

-

-

Selisih kuasi reorganisasi

-

-

Selisih restrukturisasi entitas pengendali

-

-

-

-

Ekuitas lainnya

-

-

-

-

a. Cadangan umum

3.022.685

3.022.684

3.022.685

3.022.664

b. Cadangan tujuan

-

15.093.057

-

15.093.057

95.552.6666

62.874.782

96.058.795

63.206.492

25.753.456

25.204.150

26.227.991

145.457.718

112.391.798

146.421.342

112.832.861

391.246

294.318

Cadangan

Laba/rugi a. Tahun-tahun lalu b. Tahun berjalan Total Ekuitas yang dapat Diatribusikan kepada Pemilik Kepentingan non pengendali Total Ekuitas

145.457.718

112.391.798

146.812.590

113.127.179

Total Liabilitas dan Ekuitas

964.000.690

845.998.379

1.003.644.426

878.426.312

LAPORAN LABA RUGI DAN PENGHASILAN KOMPREHENSIF LAIN Bank Uraian

2016




Konsolidasian

2015

2016

2015


dalam jutaan Rupiah

P E N DA PATA N DA N B EB A N O PER A SIO N A L Pendapatan dan Beban Bunga

b. Valuta Asing

86.857.408

78.565.649

90.823.430

81.770.076

3.951.016

3.655.385

3.963.852

3.664.749

23.266.465

23.921.931

24.864.737

25.363.793

2.347.294

1.789.216

2.348.851

1.792.251

Beban Bunga a. Rupiah b. Valuta Asing Pendapatan (Beban) Bunga Bersih

65.194.665

56.509.887

67.573.694

58.278.781

Premium Income

-

-

2.474.579

-

Expense Claims

-

-

2.410.192

-

2016

a. Rupiah

ANNUAL REPORT

Pendapatan bunga

65

Bank Uraian

2016

Konsolidasian

2015

2016

2015

dalam jutaan Rupiah

Premium Income (expense claims) Net Income (Expense) Interest and Sharia – as well as the Net Premium Income (Expense Claims) Net

-

-

64.387

-

65.194.665

56.509.887

67.638.081

58.278.781

Pendapatan dan Beban Operasional Selain Bunga

-

Pendapatan Operasional Selain Bunga a. Peningkatan nilai wajar aset keuangan -- Surat berharga

-

-

31.025

-

-- kredit

-

-

-

-

75.425

49.404

75.425

49.404

-

-

-

-

b. Penurunan nilai wajar aset keuangan

-

-

-

-

c. Keuntungan penjualan asset keuangan

-

-

-

-

373.720

63.257

447.580

86.485

-- kredit

-

-

-

-

-- asset keuangan lainnya

-

-

-

-

-

408.534

231

417.761

e. keuntungan dari penyertaan dengan equity method

27.290

5.281

235

13.262

f. dividen

18.564

13.262

18.564

482

9.209.654

7.351.714

9.223.265

7.363.682

-

-

-

-

7.049.981

5.790.387

7.500.235

5.936.046

-- surat berharga

-

6.879

-

10.945

-- kredit

-

-

-

-

-- spot dan derivatif

-

-

-

-

-- aset keuangan lainnya

-

-

-

-

b. peningkatan nilai wakar liabilitas keuangan

-

-

-

-

-- Spot dan derivative -- Asset keuangan lainnya


-- Surat berharga

Management Report

COMPANY PROFILE

d. keuntungan transaksi spot dan derivative (realized)

g. komisi/provisi/fee dan administrasi Information for Investor

h. pemulihan atas cadangan kerugian penurunan nilai i. pendapat lainnya

66

REPORT

2016 ANNUAL

Beban operasional selain bunga a. penurunan nilai wajar aset keuangan

Bank Uraian

2016

Konsolidasian

2015

2016

2015

dalam jutaan Rupiah

c. kerugian penjualan aset keuangan -- surat berharga

-

-

-

-

-- kredit

-

-

-

-

-- aset keuangan lainnya

-

-

-

-

347.086

-

349.489

-

-

-

-

-

d. kerugian transaksi spot dan derivative (realized)

e. kerugian penurunan nilai asset keuangan (impairment) -- surat berharga -- kredit

13.319.762

8.581.076

13.454.978

8.685.157

-- pembiayaan syariah

-

-

244.266

206.159

-- asset keuangan lainnya

-

-

996

-

340.410

348.809

340.410

348.809

f. kerugian terkait risiko operasional g. kerugian dari penyertaan dengan equity method

-

-

-

-

h. komisi/provisi/fee dan administrasi

-

-

-

-

i. kerugian penurunan nilai aset lainnya (non keuangan)

-

-

-

-

17.071.256

15.343.158

17.952.644

15.970.288

k. beban promosi

1.264.541

858.302

1.294.862

902.558

l. beban lainnya

16.181.496

13.331.254

17.334.351

14.050.111

(31.769.917)

(26.246.030)

(33.675.436)

(27.767.323)

33.424.748

31.721.940

33.962.645

31.969.541

j. beban tenaga kerja

Pendapatan (beban) operasional selain bunga bersih Laba (Rugi) Operasional

P E N DA PATA N DA N B EB A N N O N O PER A SIO N A L Keuntungan (kerugian) penjualan aset tetap dan inventaris

Laba (Rugi) Non Operasional Laba (Rugi) Tahun Berjalan sebelum Pajak

13.545

24.886

-

-

-

-

3.761

464.844

(2.420)

499.591

16.895

489.498

11.125

524.477

33.441.643

32.211.438

33.973.770

32.494.018



2016

Pendapatan (beban) non operasional lainnya

24.654


ANNUAL REPORT

Keuntungan (kerugian) penjabaran transaksi valuta asing

13.134


67

Bank Uraian

2016

Konsolidasian

2015

2016

2015

dalam jutaan Rupiah

Pajak penghasilan a. taksiran pajak tahun berjalan

8.631.686

7.008.173

8.761.902

7.102.954

b. pendapatan (beban) pajak tangguhan

(943.499)

(885)

(.016.123)

(19.724)

25.753.456

25.204.150

26.227.991

25.410.788

14.315.527

-

14.315.527

-

162.969

558.530

165.615

555.776

c. Bagian pendapatan komprehensif lain dari entitas asosiasi

-

-

-

-

d. lainnya

-

-

-

-

(531.577)

(139.633)

(532.239)

(138.944)

(25.579)

(7.399)

(25.579)

(7.399)

1.524.025

(1.127.957)

1.641.313

(1.264.123)

c. Bagian efektif dari lindung nilai arus kas

-

-

-

-

d. Lainnya

-

-

-

-

(381.006)

281.989

(412.621)

316.032

Penghasilan Komprehensif Lain Tahun Berjalan Net Pajak Penghasilan Terkait

15.064.359

(434.470)

15.152.016

(538.658)

Total Laba Komprehensif Tahun Berjalan

40.817.815

24.769.680

41.380.007

24.872.130

Laba (Rugi) Tahun Berjalan setelah Pajak Bersih Penghasilan Komprehensif Lain

Pos pos yang tidak akan direklasifikasi ke laba rugi a. Keuntungan revakuasi aset tetap b. Keuntungan (kerugian) actuarial program imbalan pasti


Management Report

COMPANY PROFILE

68

REPORT

2016 ANNUAL


e. pajak penghasilan terkait pos-pos yang tidak akan direklasifikasi ke laba rugi Pos-pos yang akan direklafikasi ke laba rugi a. Penyesuaian akibat penjabaran keuangan dalam mata uang asing b. Keuntungan (kerugian) dari perubahan nilai asset keuangan dalam kelompok bersedia untuk dijual

e. Pajak penghasilan terkait pos pos yang akan direklasifikasi ke laba rugi

Bank Uraian

2016

Konsolidasian

2015

2016

2015

dalam jutaan Rupiah

Laba yang diatribusikan kepada: Kepentingan Non Pengendali

25.753.456

25.204.150

26.195.772

25.397.742

Total Laba Tahun Berjalan

25.753.456

25.204.150

26.227.991

25.410.788

41.340.376

24.861.081

39.631

11.049

Total Penghasilan Komprehensif lain yang dapat diatribusikan kepada: Pemilik

40.817.815

24.769.680

Kepentingan Non Pengendali Total Penghasilan Komprehensif Lain Tahun Berjalan Transfer Laba (Rugi) ke Kantor Pusat Dividen Laba Bersih per Saham

40.817.815

24.769.680

41.40.376

24.861.081

-

-

-

-

7.619.322

7.272.495

-

-

1.053.42

1.022.57

1.071.51

1.030.43 Business Supporting Unit




2016

ANNUAL REPORT

69

BUSINESS GROUP STRUCTURE BRI Agro owned by PT Bank Rakyat Indonesia

Nusantara, PT BPR Bungamayang Agroloka, PT

(Persero) Tbk, Plantation Pension Fund, and

BPR Cintamanis Agroloka, and PT Aplikanusa

Public with shares of 87.23%, 7.08%, and

Lintas Arta through Perbanas Foundation. In

5.69% respectively. BRI Agro also has minority

general, business group structure of BRI Agro can

investments in some companies including PT

be described as follows:

BPR Toeloengrejo Dasa Nusantara, PT BPR Tjoekir Dasa Nusantara, PT BPR Toelangan Dasa

PT Perkebunan Nusantara X (Persero)

Pemerintah RI

Masyarakat

100%

56,75%

43,25%

Plantation Pension Fund

PT Bank Rakyat Indonesia (Persero) Tbk

Public


Management Report

3%

0,21%

99,99%

100%

99%

KSEI

Pefindo

PT Bank BRI Syariah

PT BRI Remittance

PT BTMU BRI Finance

8%

91%

PT Sarana PT Asuransi Pembiayaan Jiwa Bringin Bersama Sejahtera

COMPANY PROFILE

87,23% Information for Investor


70

REPORT

2016 ANNUAL

7,08%

5,69%

3%

3%

1,5%

2,25%

1,75%

2,90%

PT BPR Toeloengrejo Dasa Nusantara

PT BPR Tjoekir Dasa Nusantara

PT BPR Toelangan Dasa Nusantara

PT BPR Bungamayang Agroloka

PT BPR Cintamanis Agroloka

PT Aplikanusa Lintas Arta melalui Yayasan Perbanas

SUBSIDIARY AND ASSOCIATE ENTITY BRI Agro did not have subsidiary or associate entity with other COmpany, there was no information could be presented in this part.

COMPANY’S OEPRATIONS AREA Java Island : Jakarta, Surabaya, Bandung, Semarang, Bogor, Solo, Cikarang Sumatera Island : Medan, Pekanbaru, Jambi, Bandar Lampung, Rantau Prapat, Palembang Kalimantan Island: Balikpapan, Pontianak Sulawesi Island: Makassar To support all of those, the Company is supported with office and services network that keep growing


and improving. Currently, the Company has 1 operational head office, 16 branch offices, 19 sub branch offices, and 4 cash offices. Management Discussion and Analysis



2016

ANNUAL REPORT

71

office network KC MEDAN

KC RANTAU PRAPAT

KC PEKANBARU KC PONTIANAK

KC JAMBI

KC PALEMBANG


KC LAMPUNG KC JAKARTA KC CIKARANG

Management Report

KC SEMARANG

KC BOGOR

KC SURABAYA

KC BANDUNG KC SOLO COMPANY PROFILE

REPORT

2016 ANNUAL


1 Operational Head Office

BRI Agro ATM Card is connected online to all

16 Branch Offices

Bank BRI ATM Network to provide convenience

19 Sub Branch Offices

and simplicity to cardholders with access to all

4 Cash Offices

BRI ATM networks in Indonesia. In addition, BRI Agro ATM can be used for any transactions in

The Company’s operation network spread throughout 13 out of 34 Provinces in Indonesia.

72

ATM Bersama network.

KC BALIKPAPAN


KC MAKASSAR




2016

ANNUAL REPORT

73

HEAD OFFICE Gedung BRI Agro Jl. Warung Jati Barat No. 139 Kel. kalibata Kec. Pancoran Jakarta Selatan Telp. 021 79199980, 80667600 Faks. 021 79199950

BRANCH OFFICES Jakarta - Kuningan Agro Plaza, Lt. Dasar JL. HR. Rasuna Said Blok X2 No. 1 Kuningan, Jakarta Telp. 021 5262570 Faks. 021 5262574 Performance Highlights 2016

Bogor Jl. Karel Satsuit Tubun (K. S. Tubun) No. 59 F Kel. Cibuluh, Kec. Bogor Utara Bogor

Management Report

Telp. 0251 8376761, 63, 69 Faks. 0251 8376761

COMPANY

Medan Jl. Iskandar Muda Ruko Premier No. 10 dan 11

PROFILE

Telp. 061 4520401 Faks. 061 4520459

REPORT

2016 ANNUAL


Lampung Jl. Raden Intan No. 104 B & C Tanjung Karang Telp. 0721 266363 Faks. 0721 266209 Rantau Prapat Jl. A. Yani 135 F Rantau Prapat, Sumatera Utara Telp. 0624 24303 Faks. 0624 24313 Palembang Jl. Kol. H. Burlian No. 1458 A-B, RT 025/004 Kel. Sukajaya, Kel. Sukarame Punti Kayu, Palembang Telp. 0711 5611333 Faks. 0711 5611334

Pekanbaru Jl. Jend. Sudirman No. 231 Pekanbaru

Bandung Jl. Abdul Rivai No. 2B Kel. Tamansari, Kec. Bandung Wetan, Bandung, Jawa Barat

Telp. 0761 855323 Faks. 0761 839080-81

Telp. 022 4214500 Faks. 022 4214470

Jambi Jl. Hayam Wuruk No. 7-8 Jambi

Cikarang Ruko Permata Junction Blok B.05 Jl. Jababeka Raya, RT 05/06 Kel. Pasir Gombong, Kec. Cikarang Utara Bekasi

Telp. 0741 7554828 Faks. 0741 7550858

Telp. 021 89843572, 89845665, 89836945 Faks. 021 89845333

74

Semarang Ruko Metro Plaza A-2 Jl. MT. Haryono No. 970 Kel. Lamper Kidul, Kec. Semarang Selatan Semarang

Pontianak Jl. Ahmad Yani 22 F Kel. Benua Melayu Darat, Kec. Pontianak Selatan Kalimantan Barat

Telp. 024 8416961 Faks. 024 8416964, 8448106

Telp. 0561 8100012 Faks. 0561 8100017

Solo Jl. Slamet Riyadi No. 330 Kel. Sriwedari, Kec. Laweyan Solo

Makassar Jl. Slamet Riyadi No. 14, Ujung Pandang, Makassar Sulawesi Selatan

Telp. 0271 711187 Faks. 0271 741004

Telp. 0411 3634280 Faks. 0411 3634280

Surabaya Jl. Tais Nasution No. 23-27 Kel. Embong Kaliasin, Kec. Genteng Surabaya Telp. 031 5328899 Faks. 031 5470147



2016

Telp. 0542 746140 Faks. 0542 422954, 746145


ANNUAL REPORT

Balikpapan Jl. Jend. Sudirman No. 319 Balikpapan, Kalimantan Timur


75

sub branch offices Jamsostek Gedung Jamsostek, Lt. Dasar Jl. Jend. Gatot Subroto Kav.14 No.79 Jakarta Telp. 021 5207782 Faks. 021 5260435 Kebayoran Lama Jl. Kebayoran Lama RT 001/013 Kel. Grogol Utara, Kec. Kebayoran Lama Jakarta Selatan Telp. 021 53669697, 53669701-02 Faks. 021 53669703


Management Report

COMPANY PROFILE


Cik Ditiro Wisma Jasa Tania Jl. Teuku Cik Ditiro No. 14 Jakarta

REPORT

Telp. 021 5531089 Faks. 021 5518947 Bekasi Jl. Ir. H. Juanda Kav. Blok A4 No. 3 Kel. Duren Jaya, Kec. Bekasi Timur Telp. 021 8822178 Faks. 021 8820178 Medan - A. R. Hakim Jl. A. R. Hakim No. 153 C Sukarame, Medan Telp. 061 7353242, 7325982-83 Faks. 061 7351963

Telp. 021 3147374-75 Faks. 021 3101976

Kasikan Jl. Raya Kasikan Kec. Tapung Hulu, Kab. Kampar, Riau

Kelapa Gading Apartemen Wisma Gading Permai Jl. Boulevard Raya Blok CN-1 Ruko 01 No. 25 Kel. Kelapa Gading, Jakarta Utara

Telp. 0762 7363550 Faks. 0762 7363555

Telp. 021 29518415 Faks. 021 29518414 Depok Jl. Margonda Raya No.198 A Kec. Beji, Kel. Kemiri Muka, Depok Telp. 021 77216033 Faks. 021 77215421

2016 ANNUAL

Tangerang Jl. Merdeka Raya No. 197 Tangerang

Ciputat Jl. Ir. Juanda No. 114 RT 06/11 Kel. Cempaka Putih, Kec. Ciputat Timur Tangerang Selatan Telp. 021 29518415 Faks. 021 29518414

Lubuk Dalam Jl. Pertamina RT 001/005 Desa Lubuk Dalam, Kec. Lubuk Dalam, Kab. Siak Riau Telp. 0761 7878065 Faks. 0761 7878003 Ujung Batu Jl. Jend. Sudirman No. 100 Kec. Ujung Batu, Kab. Rokan Hulu Riau Telp. 0762 7363557 Faks. 0762 7363559 Air Molek Jl. Jend. Sudirman Air Molek I Kel. Air Molek, Kec. Pasir Penyu Kab. Indragiri Hulu, Riau Telp. 0769 442407 Faks. 0769 442408

76

Bandar Jaya Jl. Proklamator Raya No. 133 A Kec. Terbanggi Besar, Kab. Lampung Tengah Bandar Lampung

Banyumanik Ruko Sukun, Jl. Sukun Raya No.1A Kel. Srondol Wetan, Kec. Banyumanik Semarang

Telp. 0725 529299, 90 Faks. 0725 529200

Telp. 024 76479171-72 Faks. 024 76479171

Pematangsiantar Komplek Mega Land Jl. Asahan Blok A. No. 45 Kel. Siopat Suhu, Kec. Siantar Timur Sumatera Utara

Sidoarjo Ruko Taman Jenggala A.06 Jl. H. Sunandar Priyo Sudarmo Kel. Larangan, Kec. Candi, Kab. Sidoarjo Jawa Timur

Telp. 0622 434034 Faks. 0622 435465

Telp. 031 8069252 Faks. 031 8956500

Tebing Tinggi Jl. Jend. Sudirman No. 405 C Kel. Tebing Tinggi Barat, Kec. Terbanggi Besar Tebing Tinggi, Sumatera Utara

Gresik Jl. R. A. Kartini Blok A No. 216 RT 002/007 Kel. Sidomoro, Kec. Kebomas, Kab. Gresik Jawa Timur

Telp. 0621 3950790-91 Faks. 0621 3950809

Telp. 031 3991901 Faks. 031 3991900



cash offices Departemen Pertanian Gedung E, Lt. Dasar Jl. RM. Harsono No. 3, Jakarta Telp. 021 78846902 Faks. 021 78840451

Teluk Sono Desa Teluk Sono Kec. Bonai Darussalam, Kab. Rokan Hulu Riau Telp. 0761 855323 Faks. 0761 839080-81

Telp. 0761 855323 Faks. 0761 839080-81

Telp. 024 8457356 Faks. 024 8457356

2016

PTPN IX Semarang Jl. Mugas Dalam Atas Semarang


ANNUAL REPORT

Dalu-Dali Empalsement Perkebunan PT Hutahaean Desa Dalu-Dali, Kec. Tambusai, Kab. Rokan Hulu Riau


77

COMPANY’s supporting professional institution public accountant firm Purwantono, Sungkoro, & Surja (Ernst & Young) Indonesian Stock Exchange Building Tower 2, Lantai 7 Jl. Jend. Sudirman Kav. 52-53 Jakarta 12190 Telp: (62-21) 5289 5000 Faks: (62-21) 5289 4100

share registrar PT Datindo Entrycom JL Hayam Wuruk No. 28, jakarta 10120 Telp: (021) 350 8077 Fax : (021) 350 8078

indonesia stock central custody (KSEI) Performance Highlights 2016

Gedung Bursa Efek Indonesia, Tower 1, Lt. 5 Jl. Jend. Sudirman kav. 52-53, Jakarta 12190 Indonesia Telepon (+62 21) 515 2855 Fax (+62 21) 5299 1199

Management Report

rating agency PT Pemeringkat Efek Indonesia (PEFINDO) COMPANY PROFILE

Panin Tower Senayan City Lantai 17, Jl. Asia Afrika Lot 19, Jakarta 10270 T : (021) 7278 2380 F : (021) 72782370


notary

REPORT

2016 ANNUAL

RUSNALDY Jl. Tebet Timur Dalam VI-E No.40 Telp : (021) 8314472, 8354785 Fax : (021) 8314472

legal consultant PRISMA & CO Cyber 2 Lantai 22, Jl. HR Rasuna Said Blok X-5, No.13, Jakarta Selatan Telp : (021) 29021305 Fax : (021) 29021318

78

Penghargaan yang diterima

2 1 TH I N F O B A N K AWA R D S 2 0 1 6

I N D ON E S I A D I GI TAL I N N OVATI ON AWAR D F OR B AN KI N G 2016

The Company received awards as Bank with

The Company received awards as Digital

Excellent predicate on Financial Performance

Innovation for Banking Commercial Bank

2015 given on August 25, 2016 in Yogyakarta.

Category: BUKU II given on June 23, 2016 in

The award is given by Infobank.

Pullman Hotel Jakarta. The award is given by


Warta Ekonomi. Management Discussion and Analysis



ANU G E RAH P ER B A N K A N I N D O N E SI A - V 2016

AN U GE R AH PE RU S AH AAN TB K. I N D ON E S I A I I I 2 0 1 6

The Company received awards as Rank – 2 Buku

The Company received awards as rank – 2 Bank

2 Tbk (Assets >Rp 5 T) given on October 13,

Category - Buku II (Assets
2016 in Jakarta. The award is given by Economic

Sector given on October 21, 2016 in Jakarta. The

Review.

award is given by Economic Review.

2016

ANNUAL REPORT

79

Information For Investor

shareholders composition shareholders

category

total share

%


More than 5%

13.368.237.838

87,228

Dana Pensiun Perkebunan

More than 5%

1.085.538.218

7,083

Public

Less than 5%

871.935.764

5,689

15.325.711.820

100,000

Total

ownership group minimum of 500 shares owner status

total shareholder

total share

%

N ATIO N A L IN V ESTO R Indonesia Individual Employee


Management Report

INFORMATION

REPORT

2016 ANNUAL 82

3,97554

101

23.743.230

0,15492

37

2.817.940

0,01839

Foundation

2

21.151.649

0,13801

Pension Fund

5

1.087.974.546

7,09901

18

13.485.711.723

87,99403

Other business entity

2

20.900

0,00014

Mutual Fund

2

45.727.868

0,29837

7.177

15.276.427.267

99,67841

13

2.901.912

0,01893

7

46.371.816

0,30258

20

49.273.728

0,32151

7.197

15.325.700.995

99,99992

Limited Company

Subtotal

F O R EIGN IN V ESTO R

Foreign business entity Subtotal Total

FOR INVESTOR

609.279.411

Cooperative

Foreign indivisual Company Profile

7.010

information on main and controlling shareholders

share ownership by ownership group and owner status ownerhsip group less than 500 shares

Total

total sharehoLDer

total share

%

total sharehoLDer

total share

231

10.633

0,00007

7.241

609.290.044

1

19

0,00000

102

23.743.249

0

0

0,00000

37

2.817.940

0

0

0,00000

2

21.151.649

0

0

0,00000

5

1.087.974.546

3

173

0,00000

21

13.485.711.896

0

0

0,00000

2

20.900

0

0

0,00000

2

45.727.868

235

10.825

0,00007

7.412

15.276.438.092

0

0

0,00000

13

2.901.912

0

0

0,00000

7

46.371.816

0

0

0,00000

20

49.273.728

235

10.825

0,00007

7.432

15.325.711.820

management share ownership composition

President/Independent Commissioner

0

0,0000000

Achmad Fachmi


0

0,0000000

Roswita Nilakurnia

Commissioner

19

0,0000001

Saptono Siwi

Commissioner

0

0,0000000

I Komang Sudiarsa

President Director

0

0,0000000

Mustari Damopolii

Director

2.750.438

0,0179466

Zuhri Anwar

Director

1.415.438

0,0092357

Sahala Manalu

Director

2.750.338

0,0179459

Zainuddin Mappa

Director

0

0,0000000

6.916.233

0,0451283

Bambang Soepeno

Total



2016

%

position


ANNUAL REPORT

total share

shareholder


83

Stock highlights information on shares issued Tick Code

AGRO / AGRO.JK

Stock Exchange

Indonesia Stock Exchange

Stock nominal value

Rp100/share

description

total share

Total all shares

15.325.711.820

Share unlisted (1%)

153.257.118

Total share listed in stock exchange

15.172.454.702

Closing price as of December 2016

386

Capitalization Value

5.915.724.762.520

stock movement quarterlY in 2015-2016 2015

description Performance Highlights 2016

Price

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Highest

103

92

105

114

100

312

500

615

Lowest

79

74

91

99

87

89

268

252

102

95

79

97

90

302

330

386

Closing Management Report

Company Profile

INFORMATION

84

REPORT

2016 ANNUAL

FOR INVESTOR

Average Volume

2016

Highest Lowest

15.309.200 4.055.700 38.127.300 18.841.600 53,113,500 235,633,700 205,935,600 207,733,900 1.000

37.900

60.700

77.300

300

26,600

4,783,300 3,299,800

stock movement monthly in 2015-2016 2015

2016

month highest

lowest

closing

January

106

100

100

February

105

99

March

114

April

105

average volume

average volume

highest

lowest

closing

1.491.600

98

88

92

411.000

101

1.779.800

100

87

89

3.118.800

99

102

2.692.600

93

88

90

533.700

93

98

2.902.900

206

89

167

37.766.300

may

103

94

94

2.439.300

185

148

153

7.759.600

June

99

89

95

510.800

312

144

302

32.164.200

July

97

88

90

1.269.700

500

280

416

37.178.900

August

89

76

80

727.700

494

284

316

53.502.700

September

82

74

79

674.900

364

268

330

21.663.800

October

104

79

101

1.955.600

352

252

290

16.189.600

November

104

90

98

1.213.100

615

276

478

44.404.500

December

99

90

97

66.800

595

336

386

59.573.800


700

70.000.000

600

60.000.000

500

50.000.000

400

40.000.000

300

30.000.000

200

20.000.000

100

10.000.000

Dec

Nov

Sep

Oct

Ags

Jul

Jun

May

Mar

Apr

Feb

Jan

Dec

Nov

Oct

Sep

Ags

Jul

Jun

May

Apr

Mar

Feb

Jan

2015


2016

0


ANNUAL REPORT

0


2016

85

chronology of share listing and other securities


Management Report

Company Profile

INFORMATION

86

REPORT

2016 ANNUAL

FOR INVESTOR

month & year

listing type

total listing

total share after listing

August 2003

Company Listing

1.514.043.000

1.514.043.000

December 2003

HMETD (PUT I)

305.967.338

1.835.205.028

April 2005

HMETD (PUT II)

513.857.128

2.349.061.156

March 2009

Tanpa HMETD

64.000.000

2.413.061.156

November 2009

HMETD (PUT III)

1.005.144.172

3.418.205.328

May 2011

Waran (PUT III)

199.890.250

3.618.095.578

July 2013

HMETD (PUT IV)

3.832.685.599

7.450.781.177

July 2015

HMETD (PUT V)

4.028.934.521

11.479.715.698

December 2016

HMETD (PUT VI)

3.845.996.122

15.325.711.820

bonds information Until the end of 2016, the Company did not issue bonds, therefore information concerning bonds is not available in this Annual Report.

stock option There were no share option policies owned by the Board of Commissioners, Directors, Executive Officers of the Company towards Company’s share ownership.

management and/or employee stock ownership program Throughout 2016, the Company did not have any management and/or employee stock ownership program. Business Supporting Unit

stock buy back and bank bonds buy back



Until the end of 2016, the Comapny did not conduct any stock buy back and bank bonds buy back. Corporate Social and Environmental Responsibility

2016

ANNUAL REPORT

87

Supporting Business Unit

human resources BRI Agro realizes that employee or Human

To improve operations effectiveness, in 2016 the

Resources is one of important assets for the

Company had improved organization on some

Company’s business activities and operations

functions in business, operations, or supporting

success. To achieve the Company’s target, BRI

line.

Agro is supported by employees with formal education and good capacity backgroun to dupport daily performances. HR management and development in the Company are not only aimed to maximize the Company’s business performance and existing line of business, bur also to optimize other line of businesses.

hr management Kilas Kinerja 2016

The Company has technology based management information system named Human Resources Information System (i-SDM). This system manages

Laporan Manajemen

accurate and valid data and integrated that can be a reference in preparing policies related with HR.

Profil Perusahaan

The existing features in i-SDM BRI Agro application, among others are: Informasi bagi Investor

1. Home, this feature presents corporate news, HR news, and other information such as on leave notice, day off, and employee birthday. 2. Personnel, this feature presents employee personal data in which each employee can conduct

REPORT

2016 ANNUAL

maintenance on permit proposal, on leave or attendance. 3. Approval, is continued feature from personnel feature. Used to approve proposal from employee to supervisor. This feature can only be accessed by direct Supervisor of the employee. 4. Report, this feature is function if the employee want to check on the proposal proposed. 5. Company, this feature consists of forum among BRI Agro employees. 6. Salary, this feature consists of salary information of each employee. Development, evaluation and improvement on that information system is conducted continuously to suuport management decision and effectiveness of HR service speed to all employees. In addition, that information system also strengthens the Company’s commitment to implement paperless behavior in this digita era.

90

hr recruitment The Company implements opportunity equality

status are managed through Company’s

principle in recruitment process.Therefore, BRI

internal regulation mechanism and has return

Agro employee recruitment basically open to

consequences and the employees.

anyone. To get good quality employee candidate, and to get employee with best talent to fill

And then, for caderization of leaders, the

particular position, the Company implements

COmpany continuously recruiting and developing

some recruitment patterns.

employees through Officer Development Program (ODP), which the selection is conducted

Recruitment process is conducted through some

based on long term business development

patters among others: Recruitment pattern for

needs and career development that taken based

Staff, leader candidate )taken through Officer

on needed competency. For link and match,

Development Program), and for particular

cooperation is taken with famous University to

positions through Special Hiring.

recruit Comapny’s leaders’ cadre candidate.

To support reorganization for the sake of

For outsourcing employee appointment, the

Company’s performance, is conducted through

Company complies all existing mechanisms that

selection process and trainings are conducted

are defined by the Government and Regulator.

SUPPORTING

fro new employees, so operational activities

This is taken to manage outsourcing employees

UNIT

can be well conducted. Other than fulfilled from

rights as it is. Oursourcing is taken only to fulfill

external through recruitment process, fulfillment

basic employee needs.

of Human Resources neerd to reorganization can be taken by promoting employees who are

BUSINESS


suitable and potential to be developed, so the engagement process to employees through carreer development can be conducted.


In employement system of BRI Agro, there are two types of employee status, which are Permanent Employee and non Permanent Employee. Two types of these emplyment


2016

ANNUAL REPORT

91

hr profile Until the end of 2016, total Company’s employees were 640 employees, higher by 8,11% dompare to total employees in 2015 that were 592 employees. The composition of employees comparative 2015 and 2016 is as follows:

Employee Composition by Gender Increasing male employees were 39 employees, from 321 employees in 2015 to

Gender

2016

2015

360 employees in 2016. Increasing female

Male

360

321

employees were 9 employees, from 271

Female

280

271

employees in 2015 to 280 employees in 2016.

Total

640

592

Kilas Kinerja 2016

Male

2016

2015

Female

Laporan Manajemen

Profil Perusahaan

Employee Composition by Status In 2016, employee composition by status of Permanent Employee increased by 46

Status

2016

2015

employees and Non permanent Employee

Permanent Employee

444

398

(PKWT) increased by 2 employees.

PKWT Employee

196

194

Total

640

592

REPORT

2016 ANNUAL

Informasi bagi Investor

Permanent Employee

2016

92

Non Permanent Employee (PKWT)

2015

Employee Composition by Education Employee composition with S1 education increased by 47 employees from 471

Education

2016

2015

employees in 2015 to 518 employees in 2016

S2

35

38

and D3 by 6 employees from 74 employees

S1

518

471

in 2015 to 80 employees in 2016. Decline

D4

1

1

occurred on employees with S2 education by

D3

80

74

D2

1

1

Senior High School

5

7

640

592

3 employees from 38 employees in 2015 to 35 employees in 2016 and Senior High School by 2 employees from 7 employees in 2015 to 5

Total

employees in 2016.

S2 S1

2016

BUSINESS

D4

2015

D3

SUPPORTING UNIT

D2 Senior High School


Employee Composition by Age There was an increase in all component composition of BRI Agro employees.

Age


2016

2015

< 25 Years old

53

42

old employees by 30 employees, ffrom 351

25-34 Years old

381

351

employees in 2015 to 381 employees in 2016.

35-44 Years old

121

115

≥ 45 Years old

85

84

Total

640

592


ANNUAL REPORT

2016

Significant increased occurred on 25-34 years

< 25 Years old

2016

25-34 Years old 35-44 Years old

2015

≥45 Years old

93

Employee Composition by Organization Level Employee composition for Cash Office Head/Supervisor/Staff increased by 34

organization level

2016

2015

employees from 509 employees in 2015

Division Head

11

10

to 543 employees in 2016. Such increase

Vice Division Head

8

3

also occurrred on Division Head level by 1

Department Head

30

23

employee, Vice Division Head by 5 employees

Vice Department Head

3

4

Branch Office Head

16

16

Sub Branch Office Head/Vice Branch Office Head

29

27

Cash Office Head/ Supervisor/Staff

543

509

Total

640

592

and Department Head/Group Head by 7 employees.

Division Head Vice Division Head

Kilas Kinerja 2016

Department Head

2016

Vice Department Head

2015

Branch Office Head Sub Branch Office Head/Vice Branch Office Head Cash Office Head/Supervisor/Staff

Laporan Manajemen

Profil Perusahaan

hr development roadmap Informasi bagi Investor

The Company has HR development roadmap for

In 2016 reporting, implementation of HR

5 (five) years that divided to some big phases to

development roadmap was still on early phase,

build Company’s business development pillars,

with strategic point that support the expected

among others are:

roadmap implementation.

94

REPORT

2016 ANNUAL

1. Work Culture developmenta 2. Productivity Improvement 3. Improvement of HR Management Infrastructure throroughly and integratedly.

hr competency dEvelopment Business expansion is conducted throughout the

In addition to Human Resources development

year and can not be separated from the role of all

to support new core banking, the Company

HR exist, so in improving HR competency based

also conducted training for employees both

on core compatency of Company’s business in

mandatory (for new employees) and trainings

agribusiness, then selection and recruitment or

based on identified need through Training

education is focused on the matched field, both

Analysis Process. Training Analysis process also

by sending partipant to participate in xternal

conducted together with related Work Unit to

education (public training) or in-house training.

ensure that trainings conducted matched with employee needs and gap competency.

In addition to cooperate with external parties, in-house training and education in the form of

In line with demands of technology development

job training are taken through synergy with

and efficiency as well as effectiveness, there

Corporate University or Work Unit in Bank

were some shifts on the training method, from

Rakyat Indonesia.

face to face training method to technology based training method, both through cooperation with

Apart from that matter, in line with the changes

Corporate University of Bank Rakyat Indonesia,

on Company’s core banking, Human Resources

as hodling company and internally.

development are allocated more to support

UNIT

system changes both through training or focus

Throughout 2016, the Company had conducted

group activities on application development level

accumulated trainings to 2,405 employees with

and end-user level.

various programs, as follows:

No.

E-Learning “Collateral Assessment”

Beanch Office Head, Sub Branch Office Head, and Vice Branch Office Head

2

Training “Collateral Assessment”

Division Head, Dept Head, Branch Off Head, Account Officer of Head Office, RPKB Staff, Credit Policy Staff, ARK Staff, DBRK Monitoring and Assistance Staff, and Trainee ODP

3

Training and Socialization of Operational Risk Measurement with Risk Control & Self Asessment (RCSA) and Loss Database Management (LDM) method

Kanca Cikarang

4

On the Job Training in Plantation Company Sinarmas Group (Pekanbaru Plantation)

AO Agribusiness Division, AO Retail & Consumer Business Division, and AO Kanca Pekanbaru

5

Credit Remedial - Legal Aspect “Complete Procedure of Legal Aspect in Non Performing Loan Settlement (including Guarantee and Execution Strategy)”

Vice RPKB Department Head andSenior Officer in Legal Department

6

Refreshment Auditor 2016

Auditor and Resident Auditor

7

E-Learning "Collateral Assessment"

AO Selindo

8

Members Meeting ATM Bersama 2016

Information Technolgy Division



2016

participant/work unit


ANNUAL REPORT

Program

1

BUSINESS SUPPORTING

95

No.

Kilas Kinerja 2016

Program

participant/work unit

9

Enhancement Accounting Policy Training

Accounting & Financial Management Department

10

"The Art Of Persuasion for Funding Officer"

Funding Officer

11

Education and Workshop of LKPBU Data Executive Officer, Office Network, Employee and Commercial Bank Publication Report 2016

HR Policy Staff, Accounting & Management Department Department Officer, and Office and Service Network Department Officer

12

Training Day : Guidance of Assessment and Credit Risk Analysis Process in Risk Management Perspective (including work paper)

Head Office Employees

13

AO Retail Selindo Training

AO Selindo

14

BSMR Level 1 Test

Branch Office Head, Sub Branch Office Head, ARK Staff, RPKB Staff and AO Agribusiness Division

15

Refreshment BSMR Level 4 (Board of Directors): Preparation of ICAAP (Internal Capital Adequacy Assessment Process) Policy

Board of Directors

16

New Employees Orientation

Teller, CS, AO

17

E-Learning OPK Selindo “LBU Reporting”

Credit Operational of Selindo

18

Profile of Commodity Business and relevant Industry withCompany’s Core Business

Busines and Kanca Unit

Laporan Manajemen

employee social welfare Profil Perusahaan

96

REPORT

2016 ANNUAL


Social welfare is an important factor to boost

Work Accident Insurance is given in order to

worker productivity. As a stimulus for employees

protect employee from the risk of the activity

who are performing well, the company

of the employee. Throughout 2016 there is no

consistently evaluating the performance of the

threat to security and safety of the employee.

employee and associate it with the remuneration is fair both employee fixed or not fixed, through

Besides this, to maintain the company’s

remuneration and facilities based on the

competitiveness on the market, then be

weight and responsibilities included the benefit

evaluated on an ongoing basis remuneration. To

Insurance, Accident Insurance, Warranty death,

provide certainty careers for employee especially

Health Insurance, Shareholding, Old Age Security

employee with important roles in the company,

and pensions.

has developed career path as one means to create engagement for employee.

equal opportunity and career path BRI Agro guarantees equal opportunities

As stimuli for employees with good performance,

for all employees in developing their career

the Company consistently evaluating employee

based on business development. Consistent

performance and relating with fair remuneration

implementation on this equality principle support

and promotion opportunities.

in creating favorable climate for all employees without exception to gain individual and career

Evaluation on employee performance become

development in the Company, based oon their

one of consideration in preparing employee

contribution and performance.

career planning both in short term and long term.

policy and mechanism of leadership succession Stages of implementation of the Leadership Succession derived from the Company’s internal, BUSINESS

conducted in stages as follows: 1. Candidate is chosen through assessment mechanism.

SUPPORTING UNIT

2. Candidate who passed assessment test will be selected again in Remuneration and Nomination Committee. 3. Remuneration and Nomination Committee provides recommendationto the Board of Commissioners concerning candidate for succession.


4. Succession decision is taken in GMS. Corporate Governance

maintaining constructive industrial relationship employees, or between employees and other

the common interest, so as to encourage the

workers, completed in accordance with the

creation of a climate conducive to a constructive

applicable provisions in the company’s internal,

industrial relations.

and taking into account other provisions

2016

applicable. Settlement is done while maintaining

ANNUAL REPORT

Any dispute arising between the Company and


97

information technology The role of Information Technology in banking

In line with the vision of Information Technology

industry has strategic position and function, not

Division, that the Company is expected to be able

only as supporting, but Information Technology

and perceptive in combining business strategy

also serves as strategic enabler for the

and latest Information Technology to achieve

Company’s business.

customer satisfaction. Therefore, in 2016, Information Technology Division had prepared and implemented Information technology development project gradually and sustainably with explanation as follows:

Kilas Kinerja 2016

Laporan Manajemen

Profil Perusahaan

98

REPORT

2016 ANNUAL


work program realization in 2016 Information technology Division has realized work program in 2016 as in the table below: project name

realization

Data Center Non Core (Surrounding) Relocation Data Center Non Core relocation was conducted with the movement of Head Office Building of BRI Agro that was previously in Kuningan, South Jakarta and moved to Warung Jati Barat, South Jakarta.



Disaster Recovery Center Core Banking System BRI Agro has succesfully build Disaster Recovery Center as one of compliance fulfillment to regulations.



Cash Management System is one of banking services for corporate customers, has succesfully launced in Cash Management System. Therefore, customers can manage the cash flow independently in their business location without have to come to BRI Agro Work Unit.



Mobile Banking BRI Agro has succesfully launched SMS based Mobile Banking as one of banking services for individual customers. Therefore customers can conduct banking transaction anywhere and anytime and can be accessed directly through cellular phone with required compatibility without have to come to BRI Agro work unit.



Internet Banking BRI Agro has successfully developed Internet Banking as one of internet based banking sevices for individual customers. Therefore customers can conduct banking transaction anywhere and anytime and can be accessed directly through browser media with internet network.

Plan to be launched in 2017

BUSINESS SUPPORTING UNIT




2016

ANNUAL REPORT

99

information technology division training and development With big role of information technology to support the Comapny’s business, then in 2016 the Company developed HR competency in Information Technology Division with training and workshop. Therefore, in the future they can improve their performances and create other innovations that can support the Company’s oeprations activities. Throughout 2016, Information Technology Division training and development program are as follows: No. 1

Thematic LBU Reporting 2008 year 2016 / Bank Indonesia (SOLO)

2

Querying Microsoft SQL Server / Jakarta

3

User Group System Bank Indonesia - Real Time Gross Settlement (Sistem BI-RTGS), Bank Indonesia -Scriptless Securities settlement System (BI-SSS) Bank Indonesia / Bali

4

Evaluation and refreshment SKNBI by BI/Solo

5

Members Meeting ATM Bersama 2016

Kilas Kinerja 2016

Laporan Manajemen

Profil Perusahaan

REPORT

2016 ANNUAL


100

training name

participant R. Ibrahim Senoaji Programmer - Application System Development Unit IT Division

Satriadha Apik W. Information Technology Helpdesk

Deni Fakhri Head of IT Operational Unit - IT Division

Henry Adrian IT Security -I TDivision

Panji Omara, Muchamad Surya, Prasetyo IT Division

strategic plan in 2017 The Company will strive to improve the quality of information technology owned. That resources owned Information Technology can develop and can be put to good use, the Information Technology Division has designed a strategic plan in 2017 as follows: 1. Strengthening infrastructure The strategic plan aims to strengthen the infrastructure ensures service availability and ease of access for customers. Procurement

shorten time-to-market and improve service quality in accordance with customer expectations continue to rise. 5. Accurate and on time information providence

of server, storage device procurement,

The strategic plan of providing information

procurement monitoring tools and capacity

that is accurate and timely information

building communication networks.

to support the decision-making process,

2. Security system improvement

preparation of marketing strategy and

The strategic plan to enhance system security

information systems related regulatory

by providing firewall in the Data Center and

reporting system data warehouse More

Disaster Recovery Center as well as the use of

widespread repository to support the entire

antivirus in the work environment BRI Agro

line of the Company.

match the standard set by the management in

6. Third party cooperation improvement

order to meet the primary goal of information

Strategic plans to improve cooperation

security is confidentiality, availability and

Business-to-Business (B2B) and the Business-

integrity.

to-Customer (B2C) in the supply channel

3. IT Governance improvement

third-party payments are supported by the

The strategic plan harmonization of IT

system host-to-host via ATM, Electronic Data

strategy with business strategy through the

Capture (EDC), Mobile Banking, Internet

development of the IT Strategic Plan (ITSP)

Banking and Cash Management System.

in 2017 in order to create synergies and

The strategic plan supports operational cost

maximize customer satisfaction.

efficiency, so that will be applied paperless

The strategic plan is continuous improvement of IT in support of product innovation,

UNIT


7. Suporting operational cost efficiency

focus on the development of IT services to 4. Supporting product innovation

BUSINESS SUPPORTING


workflow and use of data warehouse system that can save costs and time.


2016

ANNUAL REPORT

101

Management Discussion & Analysis

general review Domestic economic growth was still influeced

(yoy) from 8.04% in Semester II 2015. Meanwhile,

by weak global economic growth and low global

household Third Party Fund growth increased

commodity price. United States of America

in line with increase in household expenditure

economic grew lower than expected in line with

allocation for saving account. Household loan risk

investment slowdown. European economic grew

(NPL) increased again based on seasonal pattern

slowly and Brexit issue worsened the condition.

to 1.75% compare to semester II 2015 amounted

China economic was still facing private sector

to 1.55%, but remained stable compare to

that experienced production capacity exceeded

previous year.

the optimum standard and high corporate bonds.

Kilas Kinerja 2016

Laporan Manajemen

On the other side, emerging market economic

Meanwhile corporation performance in

showed an improvement. Moreover, the price

semester II year 2016 was still slow. The global

of half of main global commodities started to

economic growth slowdown still occured and

increase even though still limited. This increasing

caused export demande to decline and some

commodity price was due to less offering, such as

commodities price increase had not impacted on

crude oil due to decreasing production in United

corporate performance. That weak corporation

States of America and other producers countries.

performance a little bit on hold by increasing

That also influenced the slowdown in household

demand from domestic with economic growth

an corporation performance in all sectors, in

increase took place in semester II 2016. However,

which the corporation performance has impact

positive impact given was not strong enough

on loan and Total Third Party fund requests

to drive corporate performance improvement.

that also slowdown the banking intermediary

Corporate performance indicator was reflected

growth. At the end it is increasing credit risk and

from productivity, profitability, solvability,

lowering banking efficiency. However in general,

liquidity, and Debt to Equity Ratio (DER) that

financial stability factor on Semester I year 2016

tended to experience a decline.

was better than the risk came from global and Profil Perusahaan

economic growth slowdown. Financial system

This corporate performance slowdown needs

stability improvement was driven by strong

to be concerned due to banking loan portion

capital and increased banking liquidity as well as

distributed to corporate sector increased. In

financial market performance.

addition, banking loan growth to corporate was still high amounted to 12.13% compare to loan

REPORT

2016 ANNUAL


On Semester II year 2016, economic growth

growth as a whole amounted to 8.89%. Corporate

increase encouraged optimism in households

NPL gross ratio also increased to 3.56% from

and corporation towards upcoming economic

2.71% at the end of semester II 2015 in line with

condition. But optimism towards that economic

the decline in ability to pay corporate debt. The

growth had not impact significantly towards

decline in ability to pay debt also reflected from

households performance due to consumption

increasing corporate overseas debt trstructuring.

increase that tneded to be influenced by seasonal

Meanwhile, corporate third party fund grew

effects during Idul Fitr. Household expenditure

slowly by 9.95%, if compare to semester II 2015

portion for consumption increased in semester

that was 11.44% in aline with the pay off efforts

II year 2016, meanwhile portion for debt

and/or early debt installment payment conducted

installment payment decreased in line with the

by corporations.

decease of loan to households. Loan to individual as household loan proction decreased to 7.92%

104

Slow corporate performance influenced banking

performance even though was still on maintained

slowdown at the end of semester I was also

position. The maintained banking stability

contributed by kartal withdrawal season pattern

was supported by high banking capital that far

in Ramadhan festive period. From loan risk

above the minimum provision and increasing

side, increasing gross NPL ratio still continued

banking liquidity even thoush loan risk increased

to 3.05% from 2.56% in semester I 2015 and

and imtermediation was slow. Increaning

semester II 2015 that was 2.49%. This increasing

banking liquidity reflected from increase AL/

NPL was in line wtih the decreasing ability to

DPK to 97.40% from 93.44%, in line with high

pay debt and low cosiety revenues level. Based

government account expansion at the beginning

on economy sector, the highest increase of NPL

of year, loosened Primary GM and limited loan

gross occurred in Mining, Transportation and

growth occurred.

Telecommunication sectors, as well as processing industry.

Bank capital (CAR) increased from 21.39% to 22.56% in reporting semester due to bank’s

In the middle of decreasing loan growth and

prudent action in distributing loan in the middle

increasing bank provision cost fue to increasing

of economic growth slowdown to decrease

NPL, banking profitability in this period was

ATMR bank growth. High CAR in banking

stable with ROA on level of 2.31%. Banking

industry enabled banking to fulfill Basel III

maintained profitability level with increasing

regulation concerning capital, especially capital

Net Interest Margin (NIM). Therefore, banking

conservation buffer, countercyclinical buffer and

efficiency decreased due to increase operational

capital surcharge for systemic banks, effectively

and provision expense. Decreasing efficicency

on the beginning of 2016.

reflected on an increase in Operating Expense towards Operating Revenues (BOPO) from

Banking intermediation kept slowing down

81.49% to 82.23% in the reporting semester.

due to weak demand in line with corporate

Other indicator which is Cost ot Income Ratio/

performance that decreased loan demand.

CIR (ratio of cost other than interest to revenues)

Meanwhile from supply side, banking tended to

showed a decline from 59.47% to 56.20% in

hold loan expansion due to increasing NPL by

semester I 2016.


MANAGEMENT DISCUSSION AND ANALYSIS


strengthening loan providence policy. In semester I 2016, loan grew by 8.89% (yoy_) lower than in semester II 2015 that was 10.45%. Different with loan slowdown as a whole, SMEs loan growth

(source: Bank Indonesia)


increased to 8.3% from 8.0% in the previous semester. That increasing SMEs loan was due

Growth in Third Party Fund of banking industry in semester I 2016 was slow to 5.90% (yoy) from

2016

interest subsidy scheme from government.

ANNUAL REPORT

to increasing Society Business Loan (KUR) with

previously 7.26%. This DPK growth was slow due to weak corporate performance that still occured, DPK shifting of Non Bank Financial Institution (IKNB) industry to SBN, and decrease of regional government fund in banking. DPK growth

105

business segment review The Company has 4 (four) business segments consist of Consumer, Retail, Medium and Others. Herewith operational review per business segment:

consumer 2016

description

2015

∆ Rp

%

in thousand Rupiah

Motor Vehicle

3.294.009

434.287

2.859.722

658,49

Multifunction

490.475.803

592.844.412

(102.368.609)

(17,27)

Housing

224.444.507

190.047.146

34.397.361

18,10

-

17.670.557

(17.670.557)

(100,00)

718.214.319

800.996.402

(82.782.083)

(10,33)

Others Total Consumer

Kilas Kinerja 2016

In 2016, consumer business segment decreased

thousand in 2015 to Rp3,294,009 thousand

by 10.33% or Rp82,782,083 thousand,

in 2016, housing loan also grew by 18.10% or

from Rp800,996,402 thosusand in 2015 to

Rp34,397,361 thousand, from Rp190,047,146

Rp718,214,319 thousand in 2016. Based on

thousand in 2015 to Rp224,444,507 thousand in

consumer loan product type given, motor

2016, meanwhile multifunction loan decreased

vehicle increased significantly to 658.49%

by 17.27%.

or Rp2,859,722 thousand, from Rp434,287 Laporan Manajemen

Profil Perusahaan


retail 2016

Business service

105.554.030

96.075.989

9.478.041

9,87

Social service

88.371.746

67.116.642

21.255.104

31,67

Construction

83.121.531

64.012.317

19.109.214

29,85

1.263.034.240

871.380.603

391.653.637

44,95

3.084.902

1.124.872

1.960.030

174,24

45.405.699

33.934.726

11.470.973

33,80

Trading

479.035.813

331.791.909

147.243.904

44,38

Mining

6.661.220

4.839.052

1.822.168

37,66

2.074.269.084

1.470.277.010

603.992.074

41,08

Others

REPORT

Transportation

2016 ANNUAL

Rp

%

in thousand Rupiah

Electricity, gas and water

Total Retail

Retail business segment grew by 41.08% or

Rp1,124,872 thousand in 2015 to Rp3,084,902

Rp603,992,074 thousand, from Rp1,470,277,010

thousand in 2016, followed by others sector by

thousand in 2015 to Rp2,074,269,084

44.95%, trading by 44.38%, mining by 37.66%,

thousand in 2016.That growth occurred due

transportation by 33.80%, social service by

to retail loan growth in all sectors. Highest

31.67%, construction by 29.85% and business

growth was on electricity, gas and water by

service by 9.87%.

174.24% or Rp1,960,030 thousand, from

106

2015

∆

description

medium 2016

description

∆

2015

Rp

%

dalam ribuan Rupiah

Business service

1.191.571.006

916.011.105

275.559.901

30,08

Social service

26.402.697

12.983.488

13.419.209

103,36

Constructon

160.034.503

114.321.388

45.713.115

39,99

2.674.232.441

2.016.839.826

657.392.615

32,60

-

-

-

-

Others Electricity, gas and water

115.096.433

65.603.455

49.492.978

75,44

Trading

Transportation

1.219.933.316

647.488.959

572.444.357

88,41

Mining

-

-

-

-

5.387.270.396

3.773.248.222

1.614.022.174

42,78

Total Medium

Total medium business segment grew by

thousand, from Rp12,983,488 thousand in 2015

42.78% or Rp1,614,02,174 thousand, from

to Rp26,402,697 thousand in 2016. In addition,

Rp3,773,248,222 thousand in 2015 to

gowth also occurred in trading sector by 88.41%,

Rp5,387,270,396 thousand in 2016. That growth

transportation by 75.44%, construction by

was driven by highest loan growth terbesar in

39.99%, others by 32.60% and business service

social service by 103.36% or Rp13,419,209

by 30.08%.





2016

ANNUAL REPORT

107

financial review Analysis and discussion below, especially for

Public Accountant Firm Purwantono, Sungkoro

those related with the Company’s financial

& Surja (Ernst & Young) with Fair opinion, in all

performance, refers to Company’s Consolidated

material issues, in accordance with Financial

Financial Statement as of December 31, 2016

Accounting Standard in Indonesia.

attached and included as one in this Annual Report. That Financial Statement was audited by

statement of profit or loss and other comprehensive income description

2016

2015

∆ Rp

%

in thousand Rupiah

Kilas Kinerja 2016

Laporan Manajemen

Interest Income

965.085.260

786.709.562

178.375.698

22,67

Interest Expense

543.413.124

430.938.429

112.474.695

26,10

Net Interest Income

421.672.136

355.771.133

65.901.003

18,52


70.694.067

55.231.685

15.462.382

28,00

Provision for Impairment Losses

135.190.622

104.110.644

31.079.978

29,85

Other Operating Expenses

228.668.758

211.198.040

17.470.718

8,27

Operating Income

128.506.823

95.694.134

32.812.689

34,29

Net Non-Operating Income

12.758.689

15.101.134

(2.342.445)

(15,51)

Income before Tax Expense

141.265.512

110.795.268

30.470.244

27,50

38.262.360

30.303.388

7.958.972

26,26

103.003.152

80.491.880

22.511.272

27,97

Other Comprehensive Loss for the Year after Tax

2.360.431

18.376.503

(16.016.072)

87,15

Total Comprehensive Income for the year

100.642.721

62.115.377

38.527.344

62,02

8,89%

8,50%

Tax Expense Profil Perusahaan

REPORT

2016 ANNUAL


108

Income for the Year

Earnings per Share

In 2016, The Company’s interest income

to Rp543,413,124 thousand in 2016. Growth also

successfully grew by 22.67% from

occurred in other operating income, provision

Rp786,709,562 thousand in 2015 to

for impairment losses, other operating expense,

Ro965,085,260 thousand in 2016. In line with

operating income, and income for the year by

that growth, interest expense also grew by

28.00%, 29.85%, 8.27%, 34.29%, and 27.97%

26.10% from Rp430,938,429 thousand in 2015

respectively

INTEREST INCOME

description

2016

2015

∆ Rp

%

in thousand Rupiah

Rupiah

958.278.271

777.245.314

181.032.957

23,29

888.584.577

722.821.757

165.762.820

22,93

Securities

10.248.740

33.004.490

(22.755.750)

(68,95)

Placements with Bank Indonesia and Other Banks

22.794.746

12.265.428

10.529.318

85,85

Current accounts with Bank Indonesia and Other Banks

2.212.644

2.600.651

(388.007)

(14,92)

6.806.989

9.364.248

(2.557.259)

(27,31)

5.825,843

7.781.913

(1.956.070)

(25,14)

972.663

1.560.859

(588.196)

(37,68)

-

11.288

(11.288)

(100,00)

Loans

United States Dollar Loans Securities Placements with Bank Indonesia and Other Banks


Current accounts with Bank Indonesia and Other Banks Total Interest Income

8.483

10.188

(1.705)

(16,73)

965.085.260

786.709.562

178.375.698

22,67


Company’s interest income in 2016 increased

other Other Banks by 85.85% or Rp10,539,318

by 22.67% or Rp178,375,698 thousand

thousand from Rp12,265,428 thousand in 2015

from Rp786,709,562 thousand in 2015 to

to Rp22,794,746 thousand in 2016. Meanwhile

Rp965,085,260 thousand in 2016. That

interest income in US Dollar decreased

increase was triggered by interest income

by 27.31% or Rp2,557,259 thousand from

increase in Rupiah interest income by 22.93% or

Rp9,364,248 thousand in 2015 to Rp6,806,989

Rp165,762,820 thousand from Rp722,821,757

thousand in 2016, but did not decrease


Company’s interest income as a whole in 2016.

2016 as well as placement with Bank Indonesia



2016

ANNUAL REPORT

109

INTEREST EXPENSE

description

2016

2015

∆ Rp

%

in thousand Rupiah

Rupiah Time Deposits

541.855.735

427.903.524

113.952.211

26,63

516.721.212

391.579.781

125.141.431

31,96

Saving Deposits

13.123.043

8.859.002

4.264.041

48,13

Deposits from Other Banks

7.129.854

23.302.398

(16.172.544)

69,40

Demand Deposits

4.881.626

4.162.343

719.283

17,28

United States Dollar

1.567.389

3.043.905

(1.476.516)

(48,51)

1.399.978

2.856.995

(1.457.017)

51,00

119.158

120.619

(1.461)

(1,21)

Time Deposits Deposits from Other Banks Demand Deposits Total Interest Expense

Kilas Kinerja 2016

Laporan Manajemen

38.253

57.291

(19.038)

(33,23)

543.413.124

430.938.429

112.474.695

26,10

Company’s interest expense in 2016 also


increased by 26.10% or Rp112,474,695

Rp541,855,735 thousand in 2016, in which time

thousand from Rp430,938,429 thousand in

deposits, saving deposits, deposits from other

2015 to Rp543,413,124 thousand in 2016. That

bank and demand deposits expense increased

was driven by increasing interest expense in

by masing 31.96%, 48.13%, 69.40%, and 17.28%

Rupiah by 26.63% or Rp113,952,211 thousand

respectively.

PROVISION FOR IMPAIRMENT LOSS Profil Perusahaan

Provision for impairment loss conducted was provision for impairment loss on financial and nonianncial assets as follows: description

2016


2015

∆ Rp

%

in thousand Rupiah

Financial Assets

REPORT

2016 ANNUAL

Loans

110

135.215.831

104.070.544

31.145.287

29,93

(25.209)

40.100

(65.309)

(162,86)

135.190.622

104.110.644

31.079.978

29,85

Non-Financial Assets Foreclosed Collaterals Total Provision for Impairment Losses

Provision for impairment losses in 2016

loans by 29,93% or Rp31,145,287 thousand

increased by 29.85% or Rp31,079,978 thousand



Rp135,215,831 thousand in 2016, apart from

Rp135,190,622 thousand in 2016. That increase

decreasing provision for impairment losses on

was encouraged by increasing provision for

non-financial assets of foreclosed collaterals by

impairment loasses on financial assets of

162.86%.

BEBAN OPERASIONAL LAINNYA

description

2016

∆

2015

Rp

%

in thousand Rupiah

Salaries and Allowances

142.166.910

122.368.410

19.798.500

16,18

General and Administrative

81.322.747

81.606.711

(283.964)

(0,35)

Loss on Foreign Currencies Transactions - Net

2.403.456

-

2.403.456

100,00

Fees and Commissions

1.569.540

2.038.013

(468.473)

(22,99)

-

4.066.328

(4.066.328)

(100,00)

1.206.105

1.118.578

87.527

7,82

228.668.758

211.198.040

17.470.718

8,27

Unrealized Loss on Changes in Fair Value of Securities Net Others Total Other Operating Expenses

Other operating expense increased slightly

and allowances by 16.18% or Rp19,798,500




2015 to Rp142,155,910 thousand in 2016, and


increase in other expenses by 7.82% or Rp87,527

increase occurred due to loss on foreign

thousand from Rp1,118,578 thousand in 2015 to

currencies transactions net by 100.00% or

Rp1,206,105 thousand in 2016.

Rp2,403,456 thousand, increase in salaries





2016

ANNUAL REPORT

111

OPERATING INCOME

description

2016

∆

2015

Rp

%

in thousand Rupiah

Interest Income

965.085.260

786.709.562

178.375.698

Interest Expense

543.413.124

430.938.429

112.474.695

26,10

Net Interest Income

421.672.136

355.771.133

65.901.003

18,52

70.694.067

55.231.685

15.462.382

28,00


Kilas Kinerja 2016

Laporan Manajemen

Provision for Impairment Losses

135.190.622

104.110.644

31.079.978

29,85

Other Operating Expense

228.668.758

211.198.040

17.470.718

8,27

Operating Income

128.506.823

95.694.134

32.812.689

34,29

Company’s Operating Income in 2016 increased

net interest income by 18.52% or Rp65,901,003




2015 to Rp421,672,136 thousand in 2016, as

Rp128,506,823 thousand in 2016 due to increase

well as other operating income by 28.00% or

in interest expense by 22.67% or Rp178,375,698

Rp15,462,382 thousand, from Rp55,231,685



2015 to Rp965,085,260 thousand in 2016 and

2016.

NON OPERATING INCOME - NET

description Profil Perusahaan


2016

REPORT

2016 ANNUAL

∆

2015

Rp

%

in thousand Rupiah

Rent revenue

2.843.565

-

2.843.565

100,00

Gain on sale of premises and equipment

472.560

174.015

298.545

171,56

Gain on sale of foreclosed collaterals

322.426

-

322.426

100,00

68.118

259.950

(191.832)

(73,80)

-

11.877.217

11.877.217

(100,00)

9.188.256

3.309.852

5.878.404

177,60

12.758.689

15.101.134

(2.342.445)

(15,51)

Penalties Gain from the termination of employee benfits program (Pension Preparation Period) Others - Net Total Non Operating Income - Net

Pendapatan non operasional neto mengalami

kerja (masa persiapan pensiun) di tahun 2016.

penurunan sebesar 15,51% atau Rp2.342.445

Selain itu, penurunan juga terjadi seiring

ribu dari Rp15.101.134 ribu di tahun 2015

adanya penurunan denda sebesar 73,80% atau

menjadi Rp12.758.689 ribu di tahun 2016.

Rp191.832 ribu dari Rp259.950 ribu di tahun

Penurunan tersebut terjadi seiring tidak adanya

2015 menjadi Rp68.118 ribu di tahun 2016.

keuntungan atas penghapusan program imbalan

112

22,67

INCOME BEFORE TAX EXPENSE

description

2016

2015

∆ Rp

%

in thousand Rupiah

Operating Income

128.506.823

95.694.134

32.812.689

34,29

12.758.689

15.101.134

(2.342.445)

(15,51)

141.265.512

110.795.268

30.470.244

27,50

Non Operating Income - Net Income Before Tax Expense

In 2016, income before tax expense increased

that also increased the Company’s operating


income by 34.29% or Rp32,812,689 thousand




Rp128,50,823 thousand in 2016.

increase was due to increase in interest income

TAX EXPENSE

description

2016

2015


∆ Rp

%

in thousand Rupiah

Tax expense

38.262.360

MANAGEMENT

30.303.388

7.958.972

26,26

DISCUSSION AND ANALYSIS

The Company’s tax expense in 2016 increased by 26.26% or Rp7,958,972 thousand from Rp30,303,388 thousand in 2015 to Rp38,262,360 thousand in 2016. Corporate Governance

INCOME FOR THE YEAR

description

2016

2015

∆ Rp

%


in thousand Rupiah

income before Tax Expense

30.470.244

27,50

38.262.360

30.303.388

7.958.972

26,26

103.003.152

80.491.880

22.511.272

27,97

2016

Income for the year

110.795.268

ANNUAL REPORT

Tax Expense

141.265.512

In line with the increasing interest income by 22,67%, income before tax expense by 27.50%, net income for the year increased by 27.97% or Rp22,511,272 thousand from Rp80,491,880 thousand in 2015 to Rp103,003,152 thousand in 2016.

113

KERUGIAN KOMPREHENSIF LAIN TAHUN BERJALAN SETELAH PAJAK

description

2016

2015

∆ Rp

%

in thousand Rupiah

Item that will not be reclassified to profit or loss Remeasurement on defined benefit plan

605.609

(3.694.317)

4.299.926

116,39

Income tax related to items not be reclassified to profit or loss

(151.402)

923.579

(1.074.981)

(116,39)

Item that will be reclassfiied to profit or loss

Kilas Kinerja 2016

Unrealized loss on available-for-sale securities

(3.752.851)

(20.807.687)

17.054.836

81,96

Income tax related to items to be reclassified to profit or loss

938.213

5.201.922

(4.263.709)

(81,96)

2.360.431

18.376.503

(16.016.072)

87,15

Other Compehensive Loss for the year after tax

Other comprehensive loss for the eyar after tax increased by 87.15% or Rp16,016,072 thousand, from loss Rp18,376,503 thousand in 2015 to loss Rp2,360,431 thousand in 2016. Laporan Manajemen

COMPREHENSIVE INCOME FOR THE YEAR Profil Perusahaan

2015

∆

description

2016

Income for the year

103.003.152

80.491.880

22.511.272

27,97

(2.360.431)

(18.376.503)

(20.736.934)

112,84

100.642.721

62.115.377

38.527.344

62,03

Rp

%

in thousand Rupiah

Other comprehensive loss for the year after tax Comprehensive Income for the year

REPORT

2016 ANNUAL


Comprehensive income for the year in 2016

occurred as an increase in interest income, that

increased by 62.03% or Rp38,527,344 thousand

was followed by increase in income for the year


by 27.97%.

Rp100,642,721 thousand in 2016. Such increase

114

EARNINS PER SHARE

description

2016

∆

2015

Rp

%

in thousand Rupiah

Income for the year

103.003.152

80.491.880

22.511.272

27,97

11.584.797.559

9.465.248.438

2.119.549.121

22,39

297.904.849

-

297.904.849

100,00

11.882.702.408

9.456.248.438

2.119.549.121

22,39

Basic earnings per share (full Rupiah)

8,89

8,50

0,39

4,59

Diluted earnings per share (full Rupiah)

8,67

8,50

0,17

2,00

Weighted average number of shares outstanding Add: Shares to be issued it warrants exercise Diluted

In 2016, earnings per share (EPS) of the Company amounted to Rp8.89 per share, increased by Rp0.39 or 4.59% form previous year recorded amounted to Rp8.50 per share. Business Supporting Unit




2016

ANNUAL REPORT

115

statement of financial position 2016

description

2015

∆ Rp

%

in thousand Rupiah

Assets

11.377.960.721

8.364.502.563

3.013.458.158

36,03

Liability

9.441.709.181

7.012.090.138

2.429.619.043

34,65

Equity

1.936.251.540

1.352.412.425

583.839.115

43,17

In 2016, the Company’s assets increased

from Rp7.012.090.138 thousand in 2015

by 36.03% or Rp3,013,458,158 thousand,

to Rp9.441.709.181 thousand in 2016 and

from Rp8.364.502.563 thousad in 2015

equity by 43,17% or Rp583.839.115 thousand,

to Rp11.377.960.721 thousand din 2016.

from Rp1.352.412.425thousand in 2015 to

Increase also occurred on liabilities by

Rp1.936.251.540 thousand in 2016.

34,65% or Rp2.429.619.043 thousand,

Assets

Kilas Kinerja 2016

description Laporan Manajemen

Profil Perusahaan

Cash

REPORT

2016 ANNUAL

∆ Rp

%

28.654.362

21.344.659

7.309.703

34,25

Current accounts with Bank Indonesia

1.036.528.822

591.846.039

444.682.783

75,13

Current accounts with other Banks

106.816.301

378.230.209

(271.413.908)

(71,76)

1.116.916.250

459.951.160

656.965.090

142,83

767.591.500

682.002.293

85.589.207

12,55

Loans

8.179.753.799

6.044.521.633

2.135.232.166

35,32

Allowance for impairment losses

(239.924.900)

(131.831.158)

(108.093.742)

(81,99)

89.739.471

27.533.167

62.206.304

255,93

297.658

297.658

-

-

241.947.944

237.038.335

4.909.609

2,07

20.445.671

22.257.562

(1.811.891)

(8,14)

379.971

612.748

(232.777)

(37,99)

(197.596)

(313.723)

116.217

37,02

29.011.468

31.011.981

(2.000.513)

(6,45)

11.377.960.721

8.364.502.563

3.013.458.158

36,03

Securities

Acceptances receivable Investment in shares of stocks Premises and equipment Deferred tax assets Foreclosed collaterals Allowance for impairment losses Prepaid expenses and other assets Total Assets

116

2015

in thousand Rupiah

Placements with Bank Indonesia and otehr Banks Informasi bagi Investor

2016

CASH

2016 description

National amount foreign currency (full amount)

∆

2015

Rupiah Equivalent


Rupiah Equivalent

Rp

%

21.135.968

7.497.969

35,47

in thousand Rupiah

Rupiah United State Dollar

28.633.937 1.516

Total Cash

20.425

15.139

28.654.362

208.691 21.344.659

(188.266) (90,21) 7.309.703

34,25

CURRENT ACCOUNTS WITH BANK INDONESIA

2016 description


Ekuivalen Rupiah


Rupiah Equivalent


∆

2015 Rp

%


dalam ribuan Rupiah

Rupiah United State Dollar Total Current Accounts with Bank Indonesia

1.019.014.572 1.300.000

17.514.250

1.036.528.822

564.276.039 454.738.533 2.000.000

44,62

27.570.000 (10.055.750) (36,47)

591.846.039 444.682.783


75,13

Rupiah sebesar 44,62% atau Rp454.738.533 ribu,

ribu, dari Rp591.846.039 ribu di tahun 2015

dari Rp564.276.039 ribu di tahun 2015 menjadi

menjadi Rp1.036.528.822 ribu di tahun 2016.

Rp1.019.014.572 ribu di tahun 2016.

2016

giro pada Bank Indonesia dalam mata uang

meningkat sebesar 75,13% atau Rp444.682.783


ANNUAL REPORT

Di tahun 2016, total giro pada Bank Indonesia

Peningkatan tersebut terjadi seiring peningkatan

MANAGEMENT

117

CURRENT ACCOUNTS WITH OTHER BANKS

2016 description


∆

2015

Rupiah Equivalent


Rupiah Equivalent

Rp

%

in thousand Rupiah

Third Parties -

1.092.009 (1.092.009) (100,00)

93.641.632

285.695.427 (192.053.795) (67,22)

Rupiah Foreign currency United States Dollar

6.950.576

93.641.632

20.724.675

-

50.492

Japanese Yen

285.689.645 (192.048.013) (67,22) 5.782

(5.782) (100,00)

93.641.632

286.787.436 (193.145.804) (67,35)

11.359.598

26.579.694 (15.220.096) (57,26)

Related Parties Kilas Kinerja 2016

Laporan Manajemen

Profil Perusahaan

Rupiah United States Dollar Total Current Accounts with Other Banks

134.724

1.815.071

REPORT

2016 ANNUAL

118

64.863.079 (63.048.008) (97,20)

13.174.669

91.442.773 (78.268.104) (85,59)

106.816.301

378.230.209 (271.413.908) (71,76)

Total current accounts with other banks

related parties including the absence of current

decreased by 71,76% or Rp271.413.908

accounts with other Banks in third parties and

thousand, from Rp378.230.209 thousand in 2015

related parties of Rupiah and Japanese Yen.

to Rp106.816.301 thousand. That was driven by Informasi bagi Investor

4.705.338

decline in all currencies both third parties and

PLACEMENTS WITH BANK INDONESIA AND OTHER BANKS

description

2016

2015

∆ Rp

%

in thousand Rupiah

Third Paries

916.916.250

274.951.160

(641.965.090)

233,48

Deposit Facility

376.916.250

99.951.160

276.965.090

277,10

Inter-bank Call Money

540.000.000

175.000.000

365.000.000

208,57

200.000.000

185.000.000

15.000.000

8,11

200.000.000

185.000.000

15.000.000

8,11

1.116.916.250

459.951.160

656.965.090

142,83

Rupiah

Related Parties Rupiah Inter-Bank Call Money Total Placements with Bank Indonesia and Other Banks

Total placements with Bank Indonesia and

in 2016. Such increase was mainly driven by

other banks in total increased by 142.83% or

increase in third parties deposit facility and

Rp656.965.090 thousand, from Rp459.951.160

inter-bank call money by 277,10% and 208,57%

thousand in 2015 to Rp1.116.916.250 thousand

respectively.



SECURITIES

description

2016

2015


∆ Rp

%

in thousand Rupiah

Fair value through profit or loss Available-for-sale

50.635.000

197.307.728

(146.672.728)

(74,34)

712.966.500

440.770.652

272.195.848

61,75

4.000.000

43.923.913

(39.923.913)

(90,89)

767.591.500

682.002.293

85.589.207

12,55

Hold-to-maturity Total securities


Rp712.966.500 thousand in 2016 influenced

thousand in 2015 to Rp767.591.500 thousand

those increasing total securites.

2016

from Rp440.770.652 thousand in 2015 to

ANNUAL REPORT

Total securites increased by 12,55% in 2016 or


in 2016. Increase in available-for-sale securities by 61,75% or Rp272.195.848 thousand,

119

LOANS BY CURRENCY AND TYPE

2016

description

2015

∆ Rp

%

in thousand Rupiah

Third parties

7.768.679.164

5.749.082.380

2.019.596.784

35,13

Working capital

3.636.168.569

2.638.327.020

997.841.549

37,82

Investment

2.308.905.175

1.565.552.807

743.352.368

47,48

Programs

1.015.595.807

609.802.556

405.793.251

66,54

Consumer

723.105.518

823.502.580

(100.397.062)

(12,19)

Syndicated

35.324.110

35.784.195

(460.085)

(1,29)

59.579.985

76.113.222

(16.533.237)

(21,72)

411.074.635

295.439.253

115.635.382

39,14

Working capital

294.819.765

258.368.129

36.451.636

14,11

Investment

115.018.498

36.162.758

78.855.740

218,06

1.236.372

908.366

328.006

36,11

Loans gross

8.179.753.799

6.044.521.633

2.135.232.166

35,32


(239.924.900)

(131.831.158)

(108.093.742)

(81,99)

Loans - net

7.939.828.899

5.912.690.475

2.027.138.424

34,28

Rupiah

United States Dollar Working capital Related parties Rupiah Kilas Kinerja 2016

Consumer

Laporan Manajemen

Profil Perusahaan

REPORT

2016 ANNUAL


120

Total net loans in 2016 kept increasing by 34,28%

thousand in 2016, investment also increased by

in which based on currency and type, that was

47,48%, and program increased by 66,54% or

influeced by increasing loans to third parties


and related parties by 35,13% and 39,14%


respectively. For thirparties in Rupiah currency,

in 2016. Meanwhile for related parties in Rupiah

loans for working capital increased by 37,82% or

currency, loans for working capital, investment,

Rp997.841.549 thousand, from Rp2.638.327.020

and consumers also increased by 14,11%,

thousand in 2015 to Rp3.636.168.569

218,06%, and 36,11% respectively.

LOANS BY ECONOMIC SECTOR

description

2016

2015

∆ Rp

%

in thousand Rupiah

Third parties Rupiah

7.768.679.164

5.749.082.380

2.019.596.784

35,13

7.709.099.179

5.672.969.158

2.036.130.021

35,89

Agriculture

2.948.674.192

2.035.816.341

912.857.851

44,84

Trading

1.680.802.941

939.189.782

741.613.159

78,96

Business services

1.292.482.493

1.002.910.853

289.571.640

28,87

Manufacturing

563.196.476

537.170.361

26.026.115

4,84

Construction

243.156.034

179.607.808

63.548.326

35,38

Transportation

133.629.556

71.990.974

61.638.582

85,62

Social services

114.305.945

81.932.729

32.373.216

39,51

Mining

6.661.220

4.839.952

1.821.268

37,63

Electricity, gas and water

3.084.805

1.124.872

1.959.933

174,24

723.105.517

818.385.486

(95.279.969)

(11,64)


Others

59.579.985

76.113.222

(16.533.237)

(21,72)

Transportation

26.872.576

27.547.207

(674.631)

(2,45)

Manufacturing

16.811.222

29.986.592

(13.175.370)

(43,94)

Trading

15.896.187

18.579.423

(2.683.236)

(14,44)

MANAGEMENT

Related parties

411.074.635

295.439.253

115.635.382

39,14

AND ANALYSIS

402.457.221

251.357.061

151.100.160

60,11

Business services

5.111.042

17.829.993

(12.718.951)

(71,33)

Trading

2.270.000

25.343.834

(23.073.834)

(91,04)

Others

1.236.372

908.365

328.007

36,11

Loans gross

8.179.753.799

6.044.521.633

2.135.232.166

35,32


(239.924.900)

(131.831.158)

(108.093.742)

(81,99)

Loans - Net

7.939.828.899

5.912.690.475

2.027.138.424

34,28


DISCUSSION

Rupiah Agriculture

the amount, loans for agriculture still dominated

and water sector by 174,24% or Rp1.959.933

the total loans amounted to Rp2.948.674.192

thousand, from Rp1.124.872 thousand in 2015 to

thousand in 2016.

2016

Rp3.084.805 thousand in 2016. Meanwhile from

loans increased for third parties in electricity, gas


ANNUAL REPORT

Meanwhile based on economic sector, the highest


121

ACCEPTANCE RECEIVABLE

2016 description


∆

2015

Rupiah Equivalent


Rupiah Equivalent

Rp

%

dalam ribuan Rupiah

Third parties Rupiah Domestic Documentary Letter of Credit

3.040.000

3.949.614

(909.614) (23,03)


Kilas Kinerja 2016

Laporan Manajemen

Profil Perusahaan

Letter of Credit

2.089.143

28.145.974

Domestic Documentary Letter of Credit

4.346.149

58.553.497

- 58.553.497 100,00

89.739.471

27.533.167 62.206.304 225,93

Total Acceptance Receivable

1.710.813

23.583.553

4.562.421

17,88

Total acceptance receivable increased

increase mainly due to domestic documentary

signficantly by 225,93% or Rp62.206.304

letter of credit in US Dollar by Rp58.553.497

thousand, from Rp27.553.167 thousand in

thousand.

2015 to Rp89.739.471 thousand in 2016. Such

INVESTMENT IN SHARES OF STOCKS

REPORT

2016 ANNUAL


ownership

carrying value

Bank

1,50%

76.830

PT BPR Tjoekir Dasa Nusantara

Bank

3,00%

76.818

PT BPR Toelangan Dasa Nusantara

Bank

1,50%

66.500

PT BPR Cinta Manis Agroloka

Bank

1,75

35.010

PT BPR Bungamayang Agroloka

Bank

2,25

22.500

PT Aplikanusa Lintasarta

Non-bank

0,03

20.000

company name

business type

PT BPR Toeloengredjo Dasa Nusantara

Total Investment in Shares of Stocks

297.658

Total investment in shares of stocks in 2016 was Rp297.658 thousand with the higest investment in PT BPR Tjoekir Dasa Nusantara with ownership of 3,00% and carrying value amounted to Rp76,818 thousand.

122

PREMISES AND EQUIPMENT

description

2016

2015

∆ Rp

%

in thousand Rupiah

Acquisition cost

309.206.641

295.596.179

13.610.462

4,60

Acculmulated depreciation

(67.258.697)

(58.557.844)

(8.700.853)

(14,86)

Total Premises and Equipment

241.947.944

237.038.335

4.909.609

2,07

Total premises and equipments in 2016 increased

cost of premises and equiopment by 4,60% or

slightly by 2,07% or Rp4.909.609 thousand,



thousand in 2015 to Rp309.206.641 thousand in

Rp241.947.944 thousand in 2016. Such increase

2016.

occurred in line with the increasing acquisition

FORECLOSED COLLATERALS

description


2016

2015

∆ Rp

%

in thousand Rupiah

Foreclosed Collaterals

379.971

MANAGEMENT DISCUSSION

612.748

(232.777)

(37,99)

Foreclosed collaterals in 2016 decreased by

As of December 31, 2016, foreclosed collaterals

37,99% or Rp232.777 thousand, from Rp612.748

(AYDA) owned by the Company was Rp182.735

thousand in 2015 to Rp379.971 thousand in

thousand.

AND ANALYSIS


2016. Corporate Social and Environmental Responsibility

2016

ANNUAL REPORT

123

PREPAID EXPENSES AND OTHER ASSETS

2016 description


∆

2015

Rupiah Equivalent


Rupiah Equivalent

Rp

%

in thousand Rupiah

Rupiah Prepaid expenses

13.730.501

18.178.351 (4.447.850) (24,47)

Interest receivables

13.891.123

10.015.004

Guarantee deposit

743.400

Others

516.771

3.876.119

38,70

2.232.076 (1.488.676) (66,69) 278.779

237.992

85,37

United States Dollar Kilas Kinerja 2016

Laporan Manajemen

Interest receivables Total prepaid expenses and other assets

9.625

129.673 29.011.468

REPORT

2016 ANNUAL


124

307.771

(178.098) (57,87)

31.011.981 (2.000.513)

(6,45)

In 2016, total prepaid expenses and other assets

deposits in Rupiah currency by 66,69% and

decreased by 6,45% or Rp2.000.513 thousand,

prepaid expenses by 4,47%, as well as decrease in


interest receivable in US Dollar by 57,87%.

Rp29.011.468 thousand in 2016. Such descerase Profil Perusahaan

22.327

occurred was due to decrease in guarantee

Liabilities

description

2016

∆

2015

Rp

%

in thousand Rupiah

Liabilities due immediately

10.404.947

19.362.789

(8.957.842)

(46,23)

679.846.697

456.347.756

233.498.941

48,98

Deposits from customers Demand deposits Saving deposits

461.123.290

451.827.362

9.295.928

2,06

8.082.808.516

5.953.876.062

2.128.932.454

35,76

3.714.202

3.889.698

(175.496)

(4,51)

89.739.471

27.553.169

62.206.302

225,93

8.084.117

10.426.550

(2.342.433)

(22,47)

Estimated liabilities for employee benefits

37.721.604

29.377.357

8.344.247

28,44

Other liabilities

68.266.337

59.449.397

8.816.940

14,83

Total liabilities

9.441.709.181

7.012.090.138

2.429.619.043

34,65

Time deposits Deposits from other banks Acceptance payable Taxes payable

Total liabilities in 2016 increased by

and time deposits by 48,98%, 2,06%, and 35,76%

34,65% or Rp2.429.619.043 thousand,

respectively, and increase in acceptace payable,

from Rp7.012.090.138 thousand in 2015 to

edtimated liabilities for employee benefits, and

Rp9.441.709.181 thousand in 2016 that occurred

other liabilities by 225,93%, 28,44%, and 14,83%

due to an increase in deposits from customers



respectively.

in the form of demand deposits, saving deposits, Corporate Governance

LIABILITIES DUE IMMEDIATELY

description

2016

∆

2015

Rp

%

in thousand Rupiah

8.759.137

(2.843.766)

(32,47)

Transfer and ATM deposits

3.777.192

7.228.871

(3.451.679)

(47,75)

148.702

2.961.074

(2.812.372)

(94,98)

4.799

15.822

(11.023)

(69,67)

558.883

397.885

160.998

40,46

10.404.947

19.362.789

(8.957.842)

(46,26)

Personnel Third party deposits Other deposits Total liabilities due immediately Total liabilites due immediately in 2016

driven by highest decrease in personnel by

decreased by 46,26% or Rp8.957.842 thousand,

94,98%, third party deposits by 69,67%, transfer


and ATM deposits by 47,75%, general and

Rp10.404.947 thousand in 2016, that mainly

administrative by 32,47%.

2016

5.915.371

ANNUAL REPORT

General and administrative


125

DEMAND DEPOSITS

2016 description


∆

2015

Rupiah Equivalent


Rupiah Equivalent

Rp

%

dalam ribuan Rupiah

Third parties

564.535.856

355.014.542 209.521.314

59,02

Rupiah

440.148.326

354.950.759 85.197.567

24,00


Profil Perusahaan

REPORT

2016 ANNUAL


126

4.626

63.783 124.323.747 194.916,74

115.310.841

101.333.214 13.977.627

13,79

Rupiah

114.772.931

89.076.372 25.696.559

28,85

Total Demand Deposits

Laporan Manajemen

124.387.530

Related parties United States Dollar

Kilas Kinerja 2016

9.232.698

39.927

537.910

889.143

679.846.697

12.256.842 (11.718.932) (95,61) 456.347.756 223.498.941

48,98

Total demand deposits increased by 48,98% or

increase in third parties demand depoists in US


Dollar amounted to Rp124.387.530 thousand in

thousand in 2015 to Rp679.846.697 thousand

2016 from previously that was Rp63.783 ribu in

in 2016. Such increase occurred due to highest

2015.

SAVING DEPOSITS

description

2016

2015

∆ Rp

%

in thousand Rupiah

Third parties

454.973.736

445.827.395

9.146.341

2,05

Tabungan BRI Agro

211.832.672

278.696.812

(66.864.140)

(23,99)

Tabungan Premium – BRI Agro

138.098.577

90.711.439

48.387.138

53,34

96.479.343

68.915.270

27.564.073

40,00

Tabunganku

6.510.641

6.347.048

163.593

2,58

Tabungan Masa Depan – BRI Agro

1.960.296

1.000.745

959.551

95,88

92.207

156.081

(63.874)

(40,92)

6.149.554

5.999.967

149.587

2,49

Rupiah

Tabungan Berhadiah – BRI Agro

Tabungan Pintar – BRI Agro Related parties


Rupiah Tabungan Berhadiah – BRI Agro

2.277.325

263.040

2.014.285

764,72

Tabungan BRI Agro

2.159.984

5.024.535

(2.864.551)

(57,01)

Tabungan Premium – BRI Agro

1.571.324

505.506

1.065.818

210,84

140.712

184.196

(43.484)

(23,61)

209

22.690

(22.481)

(99,08)

461.123.290

451.827.362

9.295.928

2,06

Tabungan Masa Depan – BRI Agro Tabunganku Total Saving Deposits

Agro by 40,00% and Tabunganku by 2,58%.


Meanwhile from related parties saving deposits

2016, in which that occurred due to increase in

that increased were from Tabungan Berhadiah

third parties saving deposits from Tabungan Masa

BRI Agro by 764,72% and Tabungan Premium BRI

Depan Bri Agro by 95,88%, Tabungan Premium

Agro by 210,84%.



2016

BRI Agro by 53,34%, Tabungan Berhadiah BRI

Rp9.295.928 thousand from Rp451.827.362


ANNUAL REPORT

Total saving deposits in 2016 increased by 2,06%

MANAGEMENT

127

TIME DEPOSITS BY CONTRACTUAL PERIODS

description

2016

∆

2015

Rp

%

in thousand Rupiah

Third parties

6.016.641.648

5.672.836.783

343.804.865

6,06

462.795.000

605.064.000

(142.269.000)

(23,51)

1 month

3.400.988.181

3.310.078.609

90.909.572

2,75

3 months

1.767.759.017

1.040.723.591

727.035.426

69,86

6 months

260.664.111

293.535.135

(32.871.024)

(11,20)

12 months

98.728.495

41.128.366

57.600.129

140,05

12.125.250

95.116.293

(82.991.043)

(87,25)

1 month

8.227.345

281.726.317

(273.498.972)

(97,08)

6 months

5.354.249

5.464.472

(110.223)

(2,02)

Related parties

2.066.166.868

281.039.279

1.785.127.589

635,19

367.334.904

-

367.334.904

100,00

1.141.437.753

273.564.279

867.873.474

317,25

3 months

454.965.000

7.475.000

447.490.000

5.986,49

6 months

97.820.000

-

97.820.000

100,00

12 months

2.365.584

-

2.365.584

100,00

270.806

-

270.806

100,00

1.972.821

-

1.972.821

100,00

8.082.808.516

5.953.876.062

2.128.932.454

35,76

Rupiah On call deposits Deposits

United States Dollar On call deposits Deposits Kilas Kinerja 2016

Rupiah Laporan Manajemen

On call deposits Deposits 1 month

Profil Perusahaan

United States Dollar Deposits Informasi bagi Investor

1 month 3 months

REPORT

2016 ANNUAL

Toal Time Deposits

128

In 2016, total time deposits increased by

call deposits Rupiah currency related parties

35,76% or Rp2.128.932.454 thousand,

amounted to Rp367.334.904 thousand in 2016,

from Rp5.953.876.062 thousand in 2015 to

time deposits 6 months and 12 months amounted

Rp8.082.808.516 thousand in 2016. Such

to Rp97.820.000 thousand and Rp2.365.584

increase was due to highest increase in Time

thousand respectively, and time deposits 1

Deposits 3 months Rupiah currency related

month and 3 months US Dollar currency related

parties amounted to Rp454.965.000 in 2016

parties amounted to Rp270.806 thousand and

from previously Rp7.475.000 in 2015 and on

Rp1.972.821 thousand in 2016.

DEPOSITS FROM OTHER BANKS

description

2016

2015

∆ Rp

%

in thousand Rupiah

Third parties Rupiah Time deposits

3.000.000

3.000.000

-

-

714.202

889.698

(175.496)

(19,72)

3.714.202

3.889.698

(175.496)

(4,51)

Demand deposits Total deposits from other banks

Total deposits from other banks decreased by

additional deposits from other banks in the form

4,51% in 2016 or Rp175.496 thousand, from

of time deposits and decrease in demand deposits

Rp3.889.698 thousand in 2015 to Rp3.714.202

by 19,72%.

thousand in 2016. That was due to the absence of


TAXES PAYABLE Total tax payable in 2016 decreased by 22,47% or Rp2.342.433 thousand, from Rp10.426.550 thousand in 2015 to Rp8.084.117 thousand in 2016.



ESTIMATED LIABILITES FOR EMPLOYEE BENEFITS

description

2016

2015

∆ Rp

%

in thousand Rupiah

Work separation scheme

8.099.583

29,54

2.202.164

1.957.500

244.664

12,50

37.721.604

29.377.357

8.344.247

28,40

Grand leaves Total Estimated Liabilities for Employee Benefits

Total estimated liabilitied for employee benefits

Rp37.721.604 thousand in 2016 as due to

increased by 28,40% or Rp8.344.247 thousand,

increase in work separation scheme and grand


leaves by 29,54% and 12,50% respectively.

2016

27.419.857

ANNUAL REPORT

35.519.440


129

OTHER LIABILITIES

2016 description


∆

2015

Rupiah Equivalent


Rupiah Equivalent

Rp

%

in thousand Rupiah


Kilas Kinerja 2016

Laporan Manajemen

Profil Perusahaan

Interest payables

32.785.682

Provision for litigation liabilities

6.820.638

7.651.265

(830.627) (10,86)

Providion for result of tax examination

2.651.358

2.651.358

-

-

Bonuses and incentives

22.268.932

20.875.398

1.393.534

6,67

Unearned income

576.150

576.150

-

-

Guarantee deposits

55.300

55.300

-

-

3.082.199

1.081.731

2.000.468 184,93

162.300

(134.222) (82,70)

Others

REPORT

2016 ANNUAL

130

43,15

United States Dollar Interest payables


26.395.895 11.389.787

Total Other Liabilities

2.084

28.078

11.773

68.266.337

59.449.397

8.816.940

14,83

Total other liabilities increased by 14,83% or

other liabilities third parties by 184,93%, interest


payable by 43,15% and bonuses and incentives


by 6,67%.

2016. Such increase was driven by increasing

Equity

description

2016

2015

∆ Rp

%

in thousand Rupiah

Share capital - par value of Rp100 (full Rupiah) per share Authorized capital 25,000,000,000 shares Issues and fully paid capital - 15,325,711,820 shares as of December 31, 2016 and 11,479,715,698 shares as of December 31, 2015

1.532.571.182

1.147.971.570

384.599.612

33,50

Additional paid-in capital

190.128.032

75.915.828

114.212.204

150,45

Unrealized loss on availablefor-sale securities-net deferred tax

(25.541.975)

(22.727.337)

(2.814.638)

(12,38)

(331.661)

(785.868)

454.207

57,80

Loss on remeasurement of defined benefit plan - net of deferred tax


Retained earnings Appropriated

MANAGEMENT

Specific reserve General reserv Unappropriated Equity - Net

116.559

116.559

-

-

5.752.647

3.337.890

2.414.757

72,34

233.556.756

148.583.783

84.972.973

57,19

1.936.251.540

1.352.412.425

583.839.115

43,17

Total net equity increased by 43,17% or

150,45% or Rp114.212.204 thousand of

Rp583.839.115 thousand, from Rp1.352.412.425

additional paid in capital from Rp75.915.828



in 2016 in which there was an increase by

2016.




2016

ANNUAL REPORT

131

Cash flow 2016

description

2015

∆

in thousand Rupiah

Kilas Kinerja 2016

Net Cash Provided and (Used for) from Operating Activities

607.108.563

145.953.941

315,96%

Net Cash Provided and (Used for) from Investing Activities

(252.761.289)

(120.294.056)

110,12%

Net Cash Provided and (Used for) from Financing Activities

483.196.394

395.616.186

22,14%

Net Increase in Cash and Cash Equivalents

837.543.668

421.276.071

98,81%

Cash and Cash Equivalents at beginning of Year

1.451.372.067

1.030.276.996

40,87%

Cash and Cash Equivalents at end of year

2.288.915.735

1.451.553.067

57,69%

At the beginning of 2016, total cash and cash

Net cash flow used for investing activities in

equivalents was Rp1.451.553.067 thousand.

2016 amounted to Rp252.761.289 thousand,

The Company recorded an increase in cash and

110,12% higher than net cash flow for investing

cash equivalents amounted to Rp837.543.668

activities in 2015. Main factor of this increase

thousand, so as of the end of 2016 total cash and

was available-for-sale and owned securities to

cash equivalent amounted to Rp2.288.915.735

maturity date.

thousand billion. Laporan Manajemen

Profil Perusahaan

Net cash flow used for financing activities in 2016 Cash and cash equivalents at the end of 2016

amounted to Rp483.196.394 thousand, higher

consists of cash amounted to Rp28.654.362

22,14% than net cash flow for investing activities

thousand, demand deposits with Bank Indonesia

in 2015. That increase was came from acceptance

amounted to Rp1.036.528.822 thousand,

of share issuance.

demand depsits with other banks amounted to Rp106.816.301 thousand, and placements with Bank Indonesia and other banks amounted to


Rp1.116.916.250 thousand. From operating activities, in 2016 the Comapny

REPORT

2016 ANNUAL

recorded net cash flow for operating activities amounted to Rp607.108.563 thousand, or 315,96% higher than net increase from operating activities in 2015. This increase was due to total savings that was 43% lhigher in 2016 than in 2015.

132

important financial ratios 2016

description

2015

in percentage

CAR

23,68

22,12

NIM

4,35

4,77

ROA

1,49

1,55

ROE

7,31

7,65

NPL (Gross)

2,88

1,90

NPL (Net)

1,36

1,32

LDR

88,25

87,15

BOPO

87,59

88,63

Net Interest Margin (NIM) Net Interest Margin is calculated by comparing

due to increase in net interest income by 18%

net interest income towards average productive

meanwhile average productive assets increased

assets, in 2016 decreased by 4,35% from

significantly by 30%.


4,77% in 2015. Such decrease in NIM was MANAGEMENT DISCUSSION

Operating Expense to Operating Income (BOPO) BOPO ratio in 2016 was 87,59%, better than

increase in other operating income such as gain

BOPO ratio in 2015 that was 88,63%. Such

on securities sale by 42% and gain on securities

decrease was due to significant increase in

values.

AND ANALYSIS


interest income compare to 2015 which was

Return on Assets (ROA)

1,49% from 1,55% in 2015. This ROA decrease

than increase percentage of income before tax

was due to increase percentage of income

expense in previous year by 35%.

2016

before tax expense in 2016 was smaller by 28% ANNUAL REPORT

Return on Assets (ROA) in 2016 decreased by


Return on Equity (ROE) Return on Equity (ROE) in 2016 was 7,31%. In

of increase in net income in previous year that

2015, ROE was 7,65%. Decrease in ROE was

reached 35% and increase in equity in 2016

due to percentage of increase in net income in

compare to 2015.

2016 was smaller by 28% compare to percentage

133

ability to pay debt Ability to pay debt is measured thorugh some ratios including liquidity ratio, solvability ratio and rentability ratio. Those ratios will become a benchmark for the Company in measuring possible risk that might arisein the Company’s operational activities.

liquidity ratio Loan to Deposit Ratio (LDR)

Kilas Kinerja 2016

Throughout 2016, the Company distributed

In addition, it is in accordance with Bank

loans to public with focus to support Indonesia

Indonesia Regulation Number 18/3/PBI/2016

economic growth and to be well maintained.

dated March 10, 206 concerning Third

Those are shown in loan to deposit ratio (LDR)

Ammendment on Bank Indonesia Regulation

in 2016 that was 88,25%, increased from LDR

Number : 15/15/PBI/2013 concerning Statutory

in 2015 that was 87,15%. LDR was relatively

Reserves in Rupiah and Foreign Currency for

stable in accordance with management strategy

Commercial Conventional Bank that set LDR on

in managing productive assets to generate higher

the range of 78,0%-92,0%.

return.

Rupiah Primary GWM Laporan Manajemen

As of December 31, 2016, the Comapny maintained Rupiah Primary GWM on 13,58% from total third party fund Rupiah, based on the limit set.

Profil Perusahaan

REPORT

2016 ANNUAL


134

solvability ratio Capital Adequacy Ratio (CAR) Capital Adequacy Ratio (CAR) by taking into

Weighted Assets) also increased by 34%, from

account credit risk, market risk, and operational

Rp6.196.867.449 thousand as of the end of 2015

risk was 23,68% in 2016, increased from

to Rp8.303.739.379 thousand as of the end of

22,12% in 2015. Total core capital (Tier 1)

2016. CAR was far higher than minimum Capital

increased by 44% from Rp1.302.600.252

Adequacy Ratio as stipulated in POJK No. 34/

thousand in 2015 to Rp1.878.376.850

POJK.03/2016 concerning Ammendment on

thousand in 2016. Such increase was due to

Service Financial Authority Regulation No. 11/

additional capital by Rp498.811.816 ribu. Total

POJK.03/2016 concerning Minimum Capital

Company’s capital as of December 31, 2016

Adequacy Ratio for Commercial Bank which is 9%

was Rp1.966.244.530 thousand or increased

from RWA for Bank with risk profile rank of 2.

by 43% from Rp1.370.673.905 thousand at the end of 2015. Meanwhile, total RWA (Risk

description

2016

2015

1.878.376.850

1.302.600.252


in thousand Rupiah

C A PITA L Core Capital (Tier 1)

MANAGEMENT

Common Equity (CET-1) Additional Tier (AT-1) Total Core Capital (Tier 1) Supplementary Capital (Tier 2) Total Capital

-

-

1.878.376.850

1.302.600.252

87.867.680

68.073.653

1.966.244.530

1.370.673.905



RI SK WE I GH TED A SSETS ( R WA ) RWA for Credit Risk after considering Specific Risk RWA for Market Risk RWA for Operational Risk Total RWA

7.714.200.550

5.574.072.800

37.078.750

171.476.396

552.460.079

451.318.253

8.303.739.379

6.196.867.449


2016

ANNUAL REPORT

135

debt collectability ratio Debt collectability of the Company can be shown from total non performing loan (NPL). For 2016, NPL net of the Company could be well controlled at the range of 1,36% in which that number was far above the NPL limit set by Bank Indonesia amounted to 5%.

description

2016

2015

Total non performing loan

234.368.928

113.336.491

8.139.613.328

5.980.513.775

% non performing loan (NPL – bruto)

2,88%

1,90%

% non performing loan (NPL – neto)

1,36%

1,32%

Total loans

* Outside the credits granted to other banks

Kilas Kinerja 2016

Laporan Manajemen

Profil Perusahaan

REPORT

2016 ANNUAL


136

capital structure management policy on capital structure The objective of Company’s capital management

In managing capital, the Company considers

is to maintain strong capital position to support

factors such as optimum capital return to

business growth and maintain investors,

Shareholders and maintain balance between

depositors, customers, and market trust.

higher profit and healthy capital position.

basis of management policy on capital structure The Company effectively manages its capital

Since January 1, 2016, each Bank must create

based on the prevailing rules with main goal

Capital Conservation gradually as follows:

to ensure that everytime Bank can maintain its capital adequacy to close inherent risk on banking activities without lowering optimization of Shareholders values. Other than obligation of minimum capital providence based on risk profile, as required by

Capital Conversion

date

0,625% from RWA

January 1, 2016

1,25% from RWA

January 1, 2017

1,876% from RWA

January 1, 2018

2,5% from RWA

January 1, 2019


regulator, the Company must create additional capital as buffer other than providing minimum

In addition, based on Bank Indoensia

capital based on risk profile. That additional

Regulation No.17/22/PBI/2015 concerning

capital can be in the form of:

Countercyclical Buffer Obligation, Bank must

1. Capital Conservation Buffer, that functions as

create Countercyclical Buffer on the range of

buffer if there is any losses on critical period. 2. Countercyclical Buffer, that functions as

0% until 2,5% from RWA that officially started on January 1, 2016. Financial Service Authority

buffer to anticipate losse if there is any

POJK No.46/POJK.03/2015 concerning

exceeding baking loan growth that has

Systemically Important Bank and Capital

potential to distrub financial stability.

Surcharge Determination started to implement

3. Capital Surcharge for Domestic Systemically

Capital Surcharge for each Bank on the range of

Important Bank (D-SIB), that functions to

(based on bucket) 0% until 2,5% from ATMR since

derease negative impact on financial system

Januray 1, 2016.




stability and economy if there is any failure in

2016

ability increase in losses absorption.

ANNUAL REPORT

Bank that influenced systemic through Bank

137

capital structure Company’s capital structure for 2016 and 2015 as well as Company’s CAR is as follows: description

2016

2015

1.878.376.850

1.302.600.252

87.867.680

68.073.653

1.966.244.530

1.370.673.905

in thousand Rupiah

C A PITA L Core Capital Supplementary Capital Total Modal

RI SK W EIGH TED A SSETS ( R WA ) Total RWA Credit Risk Total RWA MArket Risk Total RWA Operational Risk Total RWA

Kilas Kinerja 2016

Laporan Manajemen

7.714.200.550

5.574.072.800

37.078.750

171.476.396

552.460.079

451.318.253

8.303.739.379

6.196.867.449

Core Capital It is the Company’s core capital that consists of:

from Rp1.302.600.252 thousand in previous

paid in stock capital, capital additional reserve

year. This increase was influenced by capital

and core capital reduction factor. As shown on

additional by the end of 2016 and profit gained

the table, Comapny’s core capital in 2016 was

achieve.

Rp1.878.376.850 thousand, increased by 44% Profil Perusahaan

Supplementary Capital (Maximum 100% from Core Capital)

REPORT

2016 ANNUAL


Supplementary Capital refers to Company’s

highest total of 1,25% from RWA for Credit Risk

capital that consists from: capital instruments

and supplementary capital reduction factor. Total

in the form of stocks or other forms that fulfills

Company’s Supplementary Capital in 2016 was

requirements, agio or disagio that come from

Rp87.867.680 thousand or increased by 29%

capital instrument issuance that is included as

from 2015 that was Rp68.073.653 thousand. This

supplementary capital, PPA general reserve on

increase in line with loan growth in 2016.

productive assets that must be calculted with

Total Capital

138

In 2016 the Company had capital amounted

thousand. This increase was influenced

to Rp1.966.244.530 thousand, increased by

byadditional capital by Holding Company at the

43% from 2015 amounted to Rp1.370.673.905

end of 2016.

material relations for capital goods investment In 2016, there was no reaization on material relations for capital goods investment, therefore information related with that relations, source of fund expected to fulfil those relationship, denominated currency, and actions planned by hte Company to protect risk from related foreign currency position can not be presented in this Annual Report.

capital goods investment realization in 2016 capital investment

capital investment goal

Land and Building

For land, building and Company’s offices building renovation

7.218.081

12.648.129

Vehicle

For Comapny’s operational vehicles

2.865.886

4.138.541

Office Equipment

For Company’s office equipment

7.125.096

Land and Building that have not been used

Purchase of land and building but have not been used, in which the cost occurred related with restoration and renovation

Total

2016

2015



3.740.279

-

174.411.615

17.209.063

194.938.564

In 2016, the Company conducted capital goods investment in the form of premises and equipment in



the form of land and building, vehicle, office equipment as well as land and building that have not been used. In 2016total spending was Rp17.209.063 thousand or decreased by Rp177.729.501 thousand or

2016

ANNUAL REPORT

91,17% from 2015 that was Rp194.938.564 thousand.

139

comparison between target and realization in 2016 Target and realization of the Company’s financial perforamnce in 2016 is as follows:

description

RBB 2016

realizaton 2016

achievement

projection 2017

in million Rupiah

P RO F IT O R LO SS R EPO RT Interest Income

908.505

965.085

106,28%

1.220.490

95.186

70.694

74,27%

78.590

Interest Expense

494.613

543.413

109,87%

684.989

Employees Expenses

156.371

142.167

90,92%

201.524

Operating Expenses other than Interest

130.610

139.164

106,55%

82.699

91.302

82.529

90,39%

128.710

130.340

128.507

98,59%

210.158

4.671

12.759

273,13%

17.501

101.876

103.003

101,11%

158.994

Operating Income other than Interest

General Administrative and Others Expeses Operating Income Non Operating Income Kilas Kinerja 2016

Operating Income After Tax

B A LA N C E SH EET Total Assets

Laporan Manajemen

10.561.437

11.377.961

107,73%

15.246.167

Loans

7.162.306

8.179.754

114,21%

10.034.677

Third Party Fund

8.080.000

9.223.779

114,16%

10.987.200

In general in 2016 the Company had showed Profil Perusahaan

satisfied performance, as shown in some

with achievement of Rp9.223.779 milion or

achievements as follows:

114,16% from the target set in 2016 that was

1. The Company successfully booked loan growth by 35,32%(yoy) with achievment of

REPORT

2016 ANNUAL


140

2. Third party fund in 2016 by 34,42% (yoy)

Rp8.080.000 million. 3. The Company in 2016 successfully recorded

Rp8.179.754 million or 114,21% from the

net income of Rp103.003 million or achieved

target set in 2016 that was Rp7.162.306

101,11% from the target set in 2016 that was

million.

Rp101.876 million.

Target in 2017 In 2017, the Company had determined target

1. Assets growth is targetd by 38%

for some key indicator by taking into account

2. Loan growth is targeted by 25%

national economic condition, banking industry

3. Third Party Fund growth is targeted by 26%

dynamic and interal readiness as follows:

4. Net Income is targeted by 53%

information and Material issues after accounting period There was no information and material issues occurred after accounting period, therefore that information can not be presented in this Annual Report. Business Supporting Unit


extraordinary and rare financial information In 2016 there was no extraordinary and rare financial information that occurred in Bank.


2016

ANNUAL REPORT

material information concerning Investment, expansion, divestment, debt/capital restructuring


In 2016, there was no material transaction concenring investment, divestment, business merger, acquisition or debt/capital restructuring.

141

business prospect growth projection of national economic was

potential of development area, among others are

on the range of 5,1% - 5,6% in 2016, that was

as follows:

supported by strong domestic consumption and

1. Global economic condition that was stil

investment. In addition, growth of medium class

fluctuative and may influence domestic

in Indoensia and increase in people composition

economic.

on productive age provided optimism on better national banking development and business prospect. Taking into account those development, the Company will try to manage financial service

2. Tight competition in banking sector from size aspect (capital and network) and pricing (fund collection and loans products). 3. Arising more interesting investment

better and stronger especially capital. Other than

alternatives such as unit link insurance,

focus on agribusiness sector, the Company also

mutual fund, ORI and others.

operates in commercial business and small and medium enterprisesn (SMEs).

4. Other banks are intended to enter the same business field due to high margin and opportunity.

From fund collection business aspect, the Company determined direction by striving to decrease concentration risk that currently still dependant to some big depositors by developing Kilas Kinerja 2016

retail source of fund among others through expansion od service office network by opening branch and sub branch offices in business centers. In business development, company’s strategy

Laporan Manajemen

Profil Perusahaan

REPORT

2016 ANNUAL


142

is also taking into account the condition and

marketing aspect Indonesia economic growth prospect in

Bases on Indonesia Banking Statistic (BI, June

2016 is forecasted to remain dominated by

2016) agriculture loan (including its supporting

strong consumption and investment flow,

inudstry) position on June 2016 was still low

driven by increasing number of society group

amounted to Rp57.193 billion or just 4,77% from

with medium income and increaseing people

total banking loan. The low banking loan did not

with productive age. Export is forecasted to

mean that its capacity was low, this can be seen in

experience improvements with economic

contribution of Agriculture sector towards gross

condition in some main partner countries that

Domestic Product that reached + 14,45% (Spurce

still experienced crisis impact of global economic

BPS).

in Europe and United States of America. With that development, Bank Indonesia forecasted

As seen from the above variables, agriculture

indonesia economic to grow on the range of

sector loan that becomes the Comapny’s

5,1% (Source: Monetary Policy Review, Bank

business sector is very potential to be developed,

Indonesia, June 2016).

especially for export based agriculture such as plantation and its diversification business. In

Finacnial system stability and banking

addition, farmers access to banking financing was

intermediary function could be well maintained.

still relatively low that provides opportunities

Solid banking industry performance reflected on

for the COmpany to increase stronger market

high Capital Adequacy Ratio (CAR) by 19,64%

penetration.


that far above the minimum provision of 8% and low non performing loan ratio (NPL) net amounted to 2,07% on June 2016. Meanwhile, loan growth until the end of March 2016 was 11,50% (yoy) in line with the slow domestic


economic growth. Working capital loan and investment loan grew by 0,54% (yoy) and 13,16% (yoy) respectively, meanwhole consumers loan grew by 11,37% (yoy).



2016

ANNUAL REPORT

143

retail and consumer business segment Small and Medium business plays important

financing for Small and MEdium Enterprises

roles in Indonesia economic growth as reflected

sector with limit of SMEs sector development

in increasing total business or from increasing

based on Constitutions Number 20 year 2008

work opportunities providence. In addition, the

concerning Micro, Small and medium Enterprises

Company also plays bigger role in productive

(SMEs).

Retail and Consumer Business Product

Kilas Kinerja 2016

Existing business products are becoming more

Retail loan products and consumer loan have

variative and adjusted with “customer need”

been evaluated to be adjusted with market

among others are:

needs development, so products contribution

1. Working Capital Loan

within business portfolio can starting to grow.

2. Investment Loan

The above financing products are developed to

3. Wharehouse Ownership Loan

target business sector in SMEs scale to generate

4. Fully Cash Collateral Loan

positive contribution with more balance portfolio

5. Agriculture Commodity Program Loan (KKPA,

volume with other business sectors.

KUR) 6. Consumers Loan: a. Agro Griya

Laporan Manajemen

b. Agro Mobil c. Agro Multiguna d. Permancent Employee and Retirement Loan

Profil Perusahaan

Retail and Consumer Business Strategy Informasi bagi Investor

GENERAL STRATEGY General strategy is general way to create established business and based on the Comapny’s

REPORT

2016 ANNUAL

business in general as follows: 1. Conducting healthy business expantion by taking into account composition between

representative locations. 4. Improving quality and quantity of PKL (Line Loan Officer). 5. Creating potential business products

Agribusiness and Non-Agribusiness (general

by emphaizing risk assessment and risk

business).

mitigation.

2. Optimizing Branch and Sub Branch outlets (work unit) through RKA based region potentail determination.

144

3. Opening new outlets (work unit) in

6. Implementing more effective and efficient monitoring system.

SPECIFIC STRATEGY Specific strategy is specific actions conducted to

• Conducting financing expansion outside

develop retail and consumer businesses, among

plantation commodities, such as food,

others are:

holticulture, livestock, and fishery by taking into account market potential and HR

1. Retail Business Retail business development strategy comprises to 3 categories, which are Business

competency. • Conducting subsidized Society Business Loan (KUR) from Government.

Network, HR and Product & Mitigation. Those three strategic plan categories are summary from programs that will be conducted technically to fulfill retail business development requirements, as follows: • Business Network: Optimization of existing work unit, opening new network/work unit and business mapping per work area. • HR: AO urecruitment to fulfill formation in all branch/sub branch offices, education

2. Consumer Business • Collateral based loan products (Agro Griya, Agro Mobil, Agro Multiguna, and others). • Maintaining cooperation with developer who has good bonafidity. • Optimization of employee loan service to companies who have become Company’s Debtors. • Loan distribution to SOEs retired employee,

for AO, Wapinca, Pincapem and Pinca,

in which its pension benefit is paid through

implement performance based incentives

the Company.

and implement RSK (Performance Target

• Opening business network with institution

Plan) by preparing business pipeline and

who have network in the Company’s work

evaluation on pipeline realization

unit through Cooperation Agreement

• Product & Mitigation: collateral based

Office for later executed by the Company’s

cooperation with loan guarantee company

work unit on sites (for example Dapenbun,

as second way out, increasing trickledown

BPJS and others).

determining business service region polici in all work units.

that still part of retail business is Program

and have become Company’s debtors.


• Productive employee loan product SOEs and other big private big companies.

2016

• Plasma finacing cooperation with Core

ANNUAL REPORT

intensive marketing to business partners,

Debtors.


group. • Potential of employeees loan to big

Loan, with development strategy as follows: Companies who have become Company’s


• Conducting consumer loan to BRI business

multifinance companies with good rating In addition, other retail business development

MANAGEMENT

initiative of Holding Company in Head

business products optimization, increasing

business from medium debtors and


• Plasma financing cooperation with State Owned Enterprises. • Plasma financing cooperation with big private owned enterprises (Asian Agri Group, Sinarmas Grup and others).

145

agribusiness segment Agribusiness sector loan contribution had

also business supporting. Business development

contributed 54% portion of bank’s loan portfolio.

strategy in agribusiness sector to healthy SOEs

Potential of loan portfolio development potential

and big private owned companies to customers

in agribusiness sector is still widely open to

who have been partnered with Bank BRI Group.

be developed, since Indonesia has big natural

Business development for financing to plasma

resources. The Company will keep developing

(cooperative) who are parters from big plantation

business to agribusiness sector eventhough

business group is Company’s main target. It is

commodities prices are fluctuative. Agribusiness

expected core company as off taker and also as

sector had been developed in the COmpany

guarantor on plasma obligation to the Company.

from upstream, on farm, to downstream, and

SOEs Agribusiness

Kilas Kinerja 2016

Laporan Manajemen

Short term business development to SOEs

well integrated from loan and fund, therefore

business market still oriented on expansion

in business calculation still provided positive

optimization in agribusiness based healthy SOEs,

contribution. This is inline with the Company’s

among others are business development to PT

strategy in improving capital and funding

Perkebunan Nusantara, Perum Perhutani, PT

portfolio improvement. That business potential

Pupuk Indonesia Holding Company, PT Rajawali

are SOEs institutions, subsidiary, employee,

Nusantara Indonesia and Subsidiary of those

partner, assisted farmers (related with program

SOEs.

loan) and employee cooperative. With that thorough service, the Company still provides

Profil Perusahaan

REPORT

2016 ANNUAL


With limitation in serving corporate scale,

financing with competitive interest rate to

the Company implements business potential

agribusiness based SOEs.

exploration strategy within SOEs environment

Private-Owned Agribusiness Strategy development on private owned

and/or plant become main relative safer choice,

agribusiness industry is still oriented on business

directional, and avoid side streaming.

on farm or off farm by adjusting to PS-KRD

For off farm financing alternative including

(Target Market and Risk Criteria that can be

working capital financing and investment to

accepted by Bank) set in the Company. Potential

big private companies and also partners of

of private owned on farm agri, with competitive

Bank BRI. Financing target for main comodities

commodities such as Crude Palm Oil (CPO) and its

trading such as CPO, sugar, coffee and chocoa is

derivatives, coffee and choco are still alternative

conducted through Delivery Order (DO) financing

of financing, however financing patterns from

scheme or Shipping Instruction (IP). Meanwhile for

period aspect, total financing and market demand

manufacturer, Company’s financing target to palm oil

still become main consideration as part of risk

plant development, fertilizer plant, and refinery.

mitigation action. Refinancing pattern on farm

146

commercial business segment The Company apart from developing agribusiness

lending. Strategically, from Company’s business

financing that become the business focus,

development, commercial business portion

also developing commercial business with

is expected to realize maximum achievement

focus on commercial business that is selective

based on vision and mission of the Company. In

and resistant to any business downturn.

addition, financing is also developed to Rural

Commercial business development started

Banks with linkage program pattern.

in 2012, commercial business comprising

Commercial Business profitability contribution

of financing to multifinance, SOEs partners,

for the last 3 (three) years in accordance with

trading sector, services and tourism (hotel)

market interest rate trend, with productivity as

and others in which commercial business loan

of December 2016 was 12.47%, December 2015

expansion implementation is synergized to

was 12,70%, December 2014 was 12,23%. That

support retail business by opening trickle down

productivity in line with business development

business bank opportunities both funding and

and market interest rate.


fund and service Competition among banks in collecting public

DPK collection throughout 2016 is projected to

fund is getting competitive, influencing each

grow by 17% and directed to be able to decrease

bank must be good at formulating the right and

dependency to core depositors. In addition, also

accurate strategies in mapping the target. Same

directed to improve retail fund composition

thing also applied to BRI Agro. Therefore, BRI

gradually. The achievement target and strategies

Agro determines a series of Third Party Fund

are as follows:

collection strategies throughout 2016. In which

Target INDIVIDUAL/RETAIL

NON INDIVIDUAL/CORPORATE

1. Focus on retail Third Party Fund, mainly in

1. Pension fund and insurance

those are loacated in plantation centers.

3. Foundation and Community

2. Payment of salary and retirement benefit within and outside the environment of

4. Cooperative 5. Private company



2016

2. Government Fund, PEMDA, BLU, SOEs


ANNUAL REPORT

Branch/Sub Branch/Cash Offices, especially

MANAGEMENT

capitive market. 3. Captive market parter and supplier.

147

Strategy 1. Improving fund collection and total customer base: a. Increasing and developing reliable information technology system to

souvenir for saving accounts customers that is competitive to other banks.

b. Providing competitive interest rate.

c. Participating in various exhibiitons.

c. Improving attractiveness and existing

d. Selling the name’s strength of BRI Agro as

2. Increasing HR competency and roles: a. Adding marketing employee in all work units of BRI Agro b. Improving ability and quality of marketing employee c. Implementing service standard that has to be fulfilled by all employees d. Improving service performance monitoring by forming Service Quality Unit e. Providing service excellent training to employees in all levels, starting from securities to leaders, among others are selling skill, negotiation skill, cross selling Profil Perusahaan

and others. f. Organizing reward program to employees through Employee Get Customer Program and FO Competition.

REPORT

2016 ANNUAL


148

program activities continuously. b. Organizing attractive direct prize/

customers.

improvement.

Laporan Manajemen

a. Improving acquisition and retention

support service quality improvement to

product sales through product features

Kilas Kinerja 2016

7. Improving awareness

subsidiary of Bank BRI. 4. Maintaining and improving good relationship with customers: a. Providing best services to customers by approaching personally to improve cusotmers loyalty. b. Providing assistance to priority customers through visit by senior officer or Baord of Directors. 5. Improving product use value to customers: a. Improving and completing saving account, especially current account and saving account with various features needed to improve services quality and attract the interest of customers candidate b. Service optimization through Electronic Banking. c. Payroll System

dividend policy Based on prevailing provisions in Indonesia,

In the Company has positive retained earnings,

dividend distribution must be approved by

then Company’s dividend policy is maximum of

shareholders in Annual GMS.

35% (thirty five percent) from net income per year, in which the Company’s Annual General

Determination of total and payment of dividend

Meeting of Shareholders has the rights to deicide

will be implemented by taking into account

different, that is the Dividend policy that the

and considenring some factors, among others

amount will be decided during GMS.

are COmapny’s financial health level, capital adequacy ratio, Comapny’s fund needs for

On the implementation of Annual GMS 2016 for

further business expansion, without reducing the

year ended 2015, had been approved Dividend

rights of Company’s GMS to determine different

payment to Shareholders (after deducting

decision based on the Company’s Articles of

Appropriated Provision based on prevailing

Association.

rules) amounted to Rp15.615.421.034 (fifteen billion six hundred twenty one thousand thirty

In accordance with provision article 71 act 3

four Rupiah) or 19,40% from total business in

Limited Company Constitution No. 40 year 2007

2015 that was Rp80.491.879.696 (eighty billion

and article 24 act 3 of Company’s Articles of

four hundred ninety one nine hundred seventy

Association, is stipulated that dividend will only

nine six hundred ninety six). The rest will be

be shared if the Comapny has positive retained

maintained as capital strengthening of retained

earnings.

profit.


Information on Dividend payment of the

MANAGEMENT

Company in the last 3 (three years) as follows:


Informasi pelaksanaan pembagian Dividen Perseroan dalam 3 (tiga) tahun terakhir sebagai berikut:


Descriptions

2015

2014

2013

2012

2011

in thousand Rupiah

Cash dividend

10.278.181

-

-

19,40%

10,23%

19,60%

-

-

Interest Income

80.491.880

59.407.934

52.439.708

33.026.578

32.856.381

Retain earning (Cummulative)

152.038.232

77.622.464

28.492.711

(15.214.568)

(48.241.146)

Percentage

2016

6.076.112

ANNUAL REPORT

15.615.422


149

usage realization of public offering fund All funds from Limited Public Offering (PUT) VI BRI Agro have been utilized as plan of fund usage as stated in prospectus on November 2016 which is be used to strengthen capital structure and later as plan all will be used for loan growth. Details of fund from PUT VI is as follows:

realization value from public offering public offering type

effective date

total fund from public offering

public offering cost

net result in million Rupiah

Public Offering (IPO)

-

-

-

-

Continued Public Offering

-

-

-

-

Rights Issue

December 2016

499.979

1.167

498.812

Total

Kilas Kinerja 2016

Remaining fund from Limited Public Offering amounted to Rp498.812 million is placed on Demand Deposits with Bank Indonesia since December 16, 2016. That placement is conducted since the Company had not geot approval on usage of Public Offering fund from Financial Service Authority (FSA).

Laporan Manajemen

Profil Perusahaan

REPORT

2016 ANNUAL


150

usage realization of fund based on prospectus

fund usage plan based on prospectus

loan

remaining fund from public offering

Total

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

498.812

-

-

-

498.812

None

-

-

-

None

498.812



employee and/OR management stock ownership program (ESOP/MSOP) Throughout 2016, the Comany did not have Employee and/or Management Stock Ownership Program



(ESOP/MSOP), therefore information related total of ESOP/MSOP and realization, maturity date, employee and/or Management requirement who are eligible, and exercise price can not be presented in

2016

ANNUAL REPORT

this Annual Report.

151

material information and transaction with conflicT of interest and/or Transaction with affiliated party In running its business activities, the Company conducts transaction with related party due to ownership and/or management relationship. Related parties, type of relations, and transaction type of related party transaction is as follows: related parties

business type

ownership


Parent Entity

Current accounts with other banks, securities, guarantees issued

PT Bank BRI Syariah

Control relationship through parent entity

Placements with Bank Indonesia and other banks

PT Bringin Srikandi Finance


Loans

PT Bringin Gigantara


Loans

Koperasi Swakarya BRI


Loans

Pemerintah Republik Indonesia (RI)

Ownership of majority shares through the Ministry of Finance of the Republic of Indonesia

Securities

PT Bank Mandiri (Persero) Tbk

Control relationship through the Central Government of the Republic of Indonesia

Current accounts with other banks

PT Bank Syariah Mandiri


Securities

PT Mandiri Manajemen Investasi


Securities

PT Bank Negara Indonesia (Persero) Tbk


Current accounts with other banks, placements with Bank Indonesia and other Banks

PT BNI Asset Management


Securities

PT Bank Tabungan Negara (Persero) Tbk


Securities

Lembaga Pembiayaan Ekspor Indonesia


Placements with Bank Indonesia and other Bank

PT Perusahaan Listrik Negara (Persero)


Securities

Perum Perhutani


Loans

Kilas Kinerja 2016

Laporan Manajemen

Profil Perusahaan

REPORT

2016 ANNUAL


152

related parties

business type

onwership

PT Perkebunan Nusantara II


Securites, loans

PT Perkebunan Nusantara VII, XI, XIII dan XIV


Loans

PT Laras Astra Kartika


Loans

PT Perkebunan Mitra Ogan


Loans, irrevocable letters of credit

PT Mega Eltra


Loans

PT Asuransi Jasa Tania Tbk

Control relationship through Dana Pensiun Perkebunan

Guarantees issued

Key employees

Control relationship on Bank’s activities

Saving deposits, time deposits


The percentage of significant transaction with related parties are conducted in normal banking activities are as follows:


2016

description

2015

in Percentage


A SSETS Current accounts with other banks

0,12

1,10


1,76

2,21

Securities

6,25

7,49

Loans

3,61

3,53

11,74

14,33

Demand deposits

1,22

1,45

Saving deposits

0,07

0,09

21,88

4,00


LIA B ILITES

0,05

0,07

23,22

5,61

2016

Compensation to key employees

ANNUAL REPORT

Time deposits

All transactions with related parties are taken based on preavailing rules and regulations, therefore those are normal to do and do not violate any prevailing rules and regulations.

153

information concerning commitment and contingency 2016

description

2015

in thousand Rupiah

CO MMITMEN T C H A RGES Fasilitas pinjaman yang belum ditarik Rupiah

-

-

Valuta asing

-

-

Posisi pembelian spot dan derivatif yang masih berjalan

-

-

Lainnya

-

-

207.103.159

243.898.920

-

-

Rupiah

-

-

Valuta asing

-

-

627.035.028

576.974.850

-

-

39.065.497

28.068.236

-

-

Rupiah

-

-

Valuta asing

-

-

L/C luar negeri

16.313.783

27.233.301

L/C dalam negeri

14.596.755

16.554.023

Posisi penjualan spot dan derivatif yang masih berjalan

-

-

Lainnya

-

-

C O MMITMEN TS Fasilitas kredit kepada nasabah yang belum ditarik BUMN Committed Rupiah Valuta asing Uncommitted Kilas Kinerja 2016

Lainnya Laporan Manajemen

Committed Uncommitted Fasilitas kredit kepada bank lain yang belum ditarik Committed

Profil Perusahaan

Rupiah Valuta asing Uncommitted

REPORT

2016 ANNUAL


154

Irrevocable L/C yang masih berjalan

2016

description

2015

C O N T I N GEC Y C H A RGES Garansi yang diterima Rupiah

-

-

Valuta asing

-

-

Bunga kredit yang diberikan

-

-

Bunga lainnya

-

-

-

-

5.490.242

9.943.984

-

-

-

-

Pendapatan bunga dalam penyelesaian

Lainnya C ON TIN GEN C IES Garansi yang diberikan Rupiah Valuta asing Lainnya Total commitment and contingency in 2016

4,02%. Meanwhile contingencies decreased by

increased by 2,32% compare to 2015, which

44,79%.


majority influenced by loans facilities to customers that have not been withdrew by MANAGEMENT DISCUSSION AND ANALYSIS

changes on ontitutions Throughout 2016, there were no changes on constitutions that have significant impact to the Comapny.



Therefore, that information can not be presented in this Annual Report.

2016

ANNUAL REPORT

155

changes on accounting policy The Company has implemented accounting

Policies, Changes in Accounting Estimates

standard on January 1, 2016, which are

and Errors”, gave editorial correction to

considered relevant to the financial

SFAS 25 paragraph 27 about limitation on

statements, namely: 1. Amendment SFAS 16, “Acceptable

retrospective application. 8. SFAS 68 (2015 Adaptation), “Fair Value

amortization and depreciation method

Measurement”, clarified that portfolio

of fixed assets”, added explanation for

exception, which permits entities to

indication of technical or commercial

measure fair value measurement of

obsolescence of an asset. Amendment SFAS

financial asset or liability groups on a net

16 clarified that depreciation method based

basis, is to be applied for the whole contract

on income is no longer viable.

(including non financial contract) in the

2. Amendment SFAS 24 “Employee Benefit: Defined Contribution Plans”, simplify the

scope of SFAS 55. 9. SFAS 110 (Revised 2015), “Sukuk

accounting method for defined contribution

Accounting”, regulated recognition,

plans from workers or third parties that

measurement, presentation and disclosure

does not rely on the total number of

of sukuk ijarah and sukuk mudharabah

dedication years, for instance contribution

transaction, both as either buyer or seller

plans that is measured using percentage of Kilas Kinerja 2016

salary. 3. SFAS 5 (2015 Adaptation), “Operating Segments”, added short disclosure on

Implementation of SFAS above did not result in significant changes to the financial reporting and disclosure in the financial statements.

combined operating segment and economic Laporan Manajemen

Profil Perusahaan

REPORT

2016 ANNUAL


indicators that have similar characteristics. 4. SFAS 7 (2015 Adaptation), “Related Party

did not decide the impact from revised SFAS

Disclosure”, added requirements and clarify

and IFAS to financial statements, therefore

disclosure for payables that are given by the

there was no implemetation on the changes

management.

of accounting policies in 2016. Summary of

5. SFAS 13 (2015 Adaptation), “Investment

SFAS and IFAS issued by Financial Accounting

Property”, clarified that SFAS 13 and SFAS

Standards Board (FASB)- IAI that are relevant

22 interplay. Entities can refer to SFAS

to the Company, but not yet effective to

13 to differentiate between investment

financial statmes as of December 31, 2016 and

property and owner-occupied property.

is still on evaluating process are as follows:

Entities may also refer to SFAS 22 as a guide

1. Amendment SFAS 1, “Presentation of

whether the acquisition of an investment

Financial Statements on Disclosures

property is a business combination.

Initiative”, have given clarification

6. SFAS 16 (2015 Adaptation), “Property, Plant

regarding materiality, systematic

and Equipment”, clarified in paragraph 35

hierarchy flexibility of notes to financial

on revaluation model, that when an entity

statements and identification of significant

uses revaluation model, carrying amount

accounting policy. Amendment SFAS 1

of assets are presented in the revaluated

have impacted other SFAS (consequential

amount

amendment) such as: SFAS 3 “Interim

7. SFAS No. 25 (2015 Adaptation), “Accounting

156

In 2016, the Company was still evaluating and

Financial Reporting”, SFAS 5 “Operating

Segments”, SFAS 60 “Financial Instruments:

Property”. The building referred to in the

Disclosures”, and SFAS 62 “Insurance

definition of investment property refers to

Contract”.

structures that have physical characteristics

2. IFAS 31, “Interpretation of SFAS 13:

that are generally associated with a building

Investment Property”, an interpretation of

which refers to the presence of walls, floors,

the characteristics of the building that is

and roofs are attached to the asset.

used as part of the definition of investment property under SFAS No. 13 “Investment

business sustainability In ensuring Company’s sustainable business

reputation risk, and compliance risk.

mainly in ensuring its profitability, the Company has to manage all risk faced through a process

Throughout 2016, the Company did not face

of identification, measurement and monitoring

any risks or matters that have potential to give

continuously with risk limit and other control

significant impact to business sustainability.

Below are risks faced by the Comapny:


MANAGEMENT DISCUSSION

1. Credit Risk

AND ANALYSIS

2. Liquidity Risk 3. Market Risk 4. Interest Rate RIsk


5. Exchange Rate Risk Other than those risks, the Company also face operational risk, legal risk, strategy risk,

Management assessment


Management has conducted assessment on the Company’s ability to continue its business sustainability

Assumptions used by management to assess

doubt towards Comapny’s ability to maintain its

that the Company has resources to continue

business sustainability.

2016

Assumption used for Assessment

ANNUAL REPORT

and believe that the Company has resources to continue its business in the future.

its busines in future based on unavailability of material uncertainty that might create significant

157


APPLICATION OF CORPORATE GOVERNANCE The Company as a financial institution which has

1. Transparency

the function of intermediary in the community

As a public company, the Company

realize that the Good Corporate Governance

continuously strives to maintain objectivity

(GCG) is absolutely necessary. By implementing

in carrying out its business activities, by

good governance necessary to encourage the

providing material and relevant information

performance of the Company’s resources to

to shareholders and stakeholders, as well

function efficiently in order to generate long-

as ensuring that information is provided

term economic value sustainable and beneficial

in a timely, adequate, clear, accurate, and

for shareholders and surrounding communities.

accessible. 2. Accountability

As an institution engaged in the banking sector, in

Ensure that all decisions as outlined in

the implementation of corporate governance, the

the strategic actions undertaken can be

Company is guided by Bank Indonesia Regulation

accounted for in a clear and contained in

No. 8/4/PBI/2006 and No. 8/14/PBI/2006 on

the report of performance measurement,

the Amendment of PBI No. 8/4/PBI/2006 on the

accountability and internal control reports as

implementation of Good Corporate Governance for Banks, which on December 7, 2016 has Kilas Kinerja 2016

a form of real accountability. 3. Responsibility

been issued by the latest Financial Services

Conformity of the Company management

Authority Regulations No. 55/POJK.03/2016 on

with the legislation in force and the principles

Governance for Bank that abolish the two PBI mentioned above.

of sound bank management. 4. Independency Management of the Company activities

Laporan Manajemen

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This awareness is fully supported by the Board

independently and professionally, not

of Commissioners who assisted the Audit

affected by special interests, and free from

Committee, Risk Monitoring Committee and

conflicts of interest. Thus the decision will

Nomination and Remuneration Committee,

always be objective and can provide the

to conduct surveillance activities on the

optimum output.

implementation of GCG. GCG implementation

Providing a fair share and equal rights in

organization and operation aspects of the full

terms of meeting all the stakeholders under

support of the people of the Company.

the agreement and applicable laws and regulations.

In the implementation of good corporate

REPORT

2016 ANNUAL

governance (GCG) companies have applied TARIF as the five fundamental pillars of good corporate governance, namely Transparency, Accountability, Responsibility, Independency and Fairness. The application of five basic pillars, believed as a reliable instrument in managing all aspects of the business and is expected to create a balance in the company’s overall business operations.

160

5. Fairness

itself is done thoroughly at all levels of the

assessment of COrporate Governance In order to apply the principles of transparency,

6. Implementation of the internal audit

companies are required to formulate GCG

function, to ensure that the Company has

implementation at the end of each financial year

had the Standard Implementation of Bank

and submit it to the stakeholders. Companies

Internal Audit function (SPFAIB) by arranging

are required to conduct a comprehensive

the Internal Audit Charter, establish the

self-assessment of the adequacy of the

Internal Audit Unit and develop guidelines

implementation of GCG. The assessment also

independent Internal Audit.

aims to monitor and evaluate the implementation

7. Application of external audit function, to

of GCG and as a form of the Company in

ensure that the Company has carried out an

developing a sustainable GCG. Self assessment

independent External Audit function and the

on GCG implementation involves at least 11

corresponding regulatory provisions.

factors as follows:

8. Application of risk management, including

1. Implementation of duties and responsibilities

the internal control system, to ensure that

of the Board of Commissioners, to ensure

the Company has adequate organizational

the implementation of corporate governance

structure to support the implementation of

principles in every company business at all levels of the organization. 2. Duties and responsibilities of the Board of

good risk management and internal control. 9. Provision of funds to related parties (related party) and large exposures (large exposures),

Directors, to ensure that the implementation

to ensure that the Company has a policy

of the management of the Company has

on this matter and there is no violation or

conducted with responsibility and observing

overrun of BMPK.

the principles of corporate governance. 3. Completeness and implementation of tasks

10. Transparency of financial and non financial condition of the Company, reports on

and responsibilities of the Committee,

the implementation of good corporate

to ensure that the Company has all the

governance and internal reporting, to ensure

Committees required pursuant to regulators

that the Company has established policies

and has been carrying out its functions

and procedures regarding the procedures for

effectively.

the implementation of the transparency of

4. Handling conflicts of interest, to ensure that the Company has a policy, systems,

11. The Company’s strategic plan, to ensure that the Company has prepared a realistic,

conflict of interest that binds the Company’s

comprehensive, measurable Company

management and employees, also has been

Business Plan by observing the principles

administered and well documented.

of prudence and responsive to internal and

regulatory provisions and legislation in force.

external changes.


2016

procedures are in accordance with the

CORPORATE GOVERNANCE

ANNUAL REPORT

that all policies, regulations, systems and


financial and non-financial conditions.

and procedures for the settlement of the

5. Implementation of compliance, by ensuring


161

Self Assessment Results on GCG implementation Based on the GCG implementation guidelines, the submitted Corporate Governance Report of the Company in 2016 is as follows. Name of the Bank:


Position:

Year 2016

Rank

Rank Definition

Individual

2

Reflecting the Company’s Management has made the implementation of Good Corporate Governance in general good. This is reflected in an adequate fulfillment of the principles of good corporate governance. If there are weaknesses in the application of the principles of Good Corporate Governance, the general weakness of the less significant and can be solved with normal action by the Company’s management.

Consolidated

-

-

Kilas Kinerja 2016

Laporan Manajemen

The Company has had the appropriate

Based on the analysis of all the criteria /

organization based on size, business complexity

assessment indicators mentioned above, it was

and risk (Board of Commissioners, Board of

concluded that the Good Corporate Governance

Directors, Committees, Compliance Function,

rank in 2016 is (2) GOOD.

Risk Management and Internal Audit Function).

Profil Perusahaan

REPORT

2016 ANNUAL


GCG GUIDELINES AND POLICIES In carrying out the practice of Good Corporate Governance, the Company based on the Company’s internal policy guidelines and policies related to GCG, namely by issuing Decree No. 03/Dir.01.03/KRH/ XI/2011 dated November 16, 2011 on Good Corporate Governance (GCG) and the Intern Memo No. 27/KMRH/XI/2013 dated November 26, 2013 regarding the Review of Good Corporate Governance (GCG) Policy.

162

CORPORATE GOVERNANCE STRUCTURE Referring to Law No. 40 Year 2007 regarding Limited Liability Company, Corporate Organ is composed of a General Meeting of Shareholders (GMS), the Board of Commissioners and the Board of Directors. As an organization incorporated as a Limited Liability Company, the Company has had Corporate Organ consisting of the General Meeting of Shareholders (GMS), the Board of Commissioners and Board of Directors, with the support of the Committees Under the Board of Commissioners, Committees Under the Board of Directors, Corporate Secretary and Internal Audit. Every part of this structure should perform its functions in accordance with applicable regulations. BRI Agro GCG structure depicted in the following chart:

Transparency

Accountability

Responsibility

Independency

Fairness

GMS


Secretary


Board of Directors

Risk Management Committee

Corporate Secretary Investor Relation


CORPORATE

Audit Committee

Credit Policy Committee

Risk Monitoring Committee

ALCO

Internal Audit (SKAI)


2016

Credit Committee

HR Management

ANNUAL REPORT


GOVERNANCE

HR Policy Committee

IT Committee

163

General Meeting of Shareholders General Meeting of Shareholders (GMS)

d. Report on the implementation of Social

and Extraordinary General Meeting of

and Environmental Responsibility.

Shareholders (EGMS) is the right and obligation

2. Proposed use of net profit.

of shareholders to control the performance of

3. Other things that need the approval of the

subsidiaries under the limits prescribed by law

General Meeting of Shareholders to the

or the articles of association. The decisions taken

Company’s interests.

in the GMS and EGMS to be transparent with regard to the interests of the Company.

Annual General Meeting of Shareholders (AGMS) held annually by the Company and the 2016 GMS

Kilas Kinerja 2016

Laporan Manajemen

Proposed use of the General Meeting of

held on April 20, 2016, which was attended by

Shareholders to approve the annual report after

96.48% of shareholders. In addition to deciding

the close of fiscal year 2015, and in the meeting

the agenda as set out in the articles of association

of Board of Directors presented:

of the Company as the Board of Directors’ report,

1. Annual Report

profit and loss statement and balance sheet as

a. Financial Statements of at least the

well as the appointment of a public accountant,

balance of the fiscal year end of the

the AGMS also resolved, concerning changes in

Company’s financial performance in

the structure of the Board of Commissioners and

recent years in comparison with the

Board of Directors of BRI Agro.

previous financial year. b. Statements regarding the Company’s

In addition, the Company GMS also decided the

activities and achievements as well as the

distribution of dividends for a total dividend of

submission of their Board of Directors

Rp15,615,421,034.79.

and the Board of Commissioners that has outlived its tenure.

Meanwhile, the Extraordinary General Meeting

c. Report on the implementation of

of Shareholders may be held at any time based on

corporate governance.

the needs for the benefit of the Company.

Profil Perusahaan

Annual General Meeting of Shareholders Meeting Agenda


REPORT

2016 ANNUAL

1. Approval of the Annual Report including

3. Determination of the salaries, honorariums,

the Ratification of the Financial Statements

allowances, facilities and other benefits for

and Report of Supervisory Board of

the financial year 2016 as well as annual

Commissioners for financial year 2015

bonus based on the financial year 2015

at the same time granting release and

performance to the members of the Board of

discharge full responsibility (acquit et de charge) to the Board of Directors and Board of Commissioners for the actions of management and supervision has been carried out during the financial year 2015. 2. Determination Using Net Income for the Fiscal Year 2015.

Directors and Commissioners. 4. Appointment Approval of Public Accountant to audit the 2016 Financial Statements. 5. Changes in composition of the Company’s Management. 6. Authorisation of the General Meeting of Shareholders to the Board of Directors to sign the Subscription Deed of Resolution (PKR).

164

AGMS Results First Agenda

Second Agenda

1. Accepted and approved the Annual Report

1. Approved the use of Net Income for

of the Board of Directors and the Approval

the financial year 2015 amounted to

of Financial Statements for Fiscal Year

Rp80.491.879.696,00 as follows:

2015, including the Report of Utilization of

a. 3% or Rp2.414.756.390,88 set aside as

Proceeds from Limited Public Offering (PUT)

a reserve fund in accordance with the

V, namely:

provisions of Article 70 of the Limited Liability Company Act No. 40 of 2007.

Descriptions Total amount of PUT V Cost of PUT V Net Result Use of Fund Plan according to Prospectus Use of Fund Realization according to Prospectus

Amount Rp402.893.452.100,00 Rp1.210.404.014,00 Rp401.683.048.086,00

b. Rp15.615.421.034,79 defined as the Dividends on fiscal year 2015. c. The rest Rp62.461.702.270.33 to increase retained earnings of the Company. 2. Give authority and power to the Board of Directors to set a schedule and procedure

Rp401.683.048.086,00

for distribution of dividends for 2015 in accordance with applicable regulations.

Rp401.683.048.086,00

Funds Remaining on PUT V Results


Third Agenda Agreed to provide the power and authority to the Board of Commissioners with the prior

Rp0,00

approval of the Controlling Shareholder (Bank BRI) to determine the amount of bonuses paid

2. Accept and approve the Company’s Balance


to the members of the Board Directors and

Sheet and Profit/Loss for the financial

Commissioners for the fiscal year 2015 as well as

year 2015 as Report from Independent

set the salaries, honorarium, benefits, facilities

Auditor PURWANTONO, SUNGKORO &

and other benefits for fiscal years 2016.


SURJA in letter No. RPC-301/ PSS/2016 dated February 22, 2016 with total assets

Fourth Agenda

of Rp8,364,502,562,810.00 and net profit

Give authority and power to the Company’s

of Rp80,491,879,696.00 after deducting

Board of Commissioners to appoint Public

income tax expenses amounting to Rp

Accountant who has gained recognition and is

30,303,388,143.00.

listed on the Financial Services Authority (FSA) accounts for the Financial Year 2016 and give

the Board of Directors and Board of

the power and authority to the Company’s Board

Commissioners of the period in 2015 for the

of Directors to establish service costs and other

management and supervision of the Company

requirements required on the appointment of the

that have been implemented during the fiscal

Public Accounting Firm.

2016

and/or Bank Indonesia to conduct an audit of the

(acquit et de charge) to all members of

ANNUAL REPORT

3. Give a release and discharge of responsibility


year 2015, as far as actions are reflected in the Independent Auditor’s Report mentioned above, with the exception of acts of criminal.

165

Fifth Agenda 1. The Board of Commissioners a. To honorably dismiss Zainuddin Mappa as a Member of the Board of Commissioners.

With the appointment, the composition of the Board of Commissioners and Directors are as follows:

The dismissal of Members of the Board of Commissioners as of the closing of


this Annual GMS, with the expression

President Commissioner/ Independen Commissioner

Bambang Soepeno

Independen Commissioner

Achmad Fachmi

Commissioner

Roswita Nilakurnia

Commissioner

Saptono Siwi*

of our gratitude and appreciation for the provision of cooperation and his contribution to the Company. b. To appoint Saptono Siwi as a Member of the Board of Commissioners. Effective after obtaining approval from the Financial Services Authority (FSA) on judgments Fit and Proper Test and comply with the provisions of Commissioners

Kilas Kinerja 2016

appointed until the closing of the Fourth

President Director

I Komang Sudiarsa*

Year GMS since the appointment without

Director

Mustari Damopolii

prejudice to the rights GMS to dismiss at

Director

Zuhri Anwar

any time.

Director

Sahala Manalu

Director

Zainuddin Mappa*

2. The Board of Directors a. To honorably dismiss Heru Sukanto as Laporan Manajemen

President Director. To honorably remove Sudarmin Sjamsoe and Sahala Manalu as member of the Board of Directors. Dismissal of the Board of Directors

Profil Perusahaan

as of the closing of this Annual GMS, with the expression of our gratitude and appreciation for the provision of cooperation and his contribution to the


Company. b. To appoint I Komang Sudiarsa as President Director, appoint Sahala Manalu and

REPORT

2016 ANNUAL

Zainuddin Mappa as the Members of the

166

Board of Directors

Board of Directors.

* Effective after approval by the FSA

Sixth Agenda Authorized from the General Meeting of Shareholders to one of the Board of Directors to sign the Meeting Decision Deed.

Extraordinary General Meeting of Shareholders Meeting Agenda Approval of Capital Increase with Preemptive Rights (PMHMETD) as defined in the FSA Regulation No. 32/POJK. 04/2015.

EGMS Results 1. Approve Capital Increase of the Company by Preemptive Rights (PMHMETD), thereby issuing new shares from the portfolio of the Company accompanied Warrants Series II.

b. Establish the exercise price of HMETD and the exercise price of the Warrants Series II by observing the rules and regulations. c. Establish a time schedule of Limited

The number of new shares that accompanied

Public Offering VI and its terms, do all

the execution results PMHMETD

acts necessary in order to implement

Warrant Series II, for a total maximum of

PMHMETD accompanied by the issuance

4,465,150,218 (four billion four hundred and

of Warrants Series II.

sixty five million one hundred fifty thousand two hundred and eighteen) shares. 2. In connection with the proposed agenda

3. Furthermore, in connection with the capital increase issued and fully paid in the Company after the execution PMHMETD

of the above, give authority and power

and conversion of Warrant Series II, thereby

to the Board of Directors with the right

changing the provisions of Article 4,

of substitution to perform any and all

paragraph 2 of the Articles of Association of

acts required in connection with the

the Company; and



implementation of PMHMETD accompanied

4. To authorize the Board of Directors with the

issuance of Warrants Series II with regard to

substitution right for the decision statement

all applicable laws and regulations including

and change the Article 4, paragraph 2 of

CORPORATE

but not limited to:

the Articles of Association, including to

GOVERNANCE

a. Setting the number of shares to be

reconstitute Article 4 of the Articles of

offered, including the determination of

Association acts in presence of its own, then

the amount of issuance of Warrants Series

apply to the competent authority as required

II with the provision of shares to be issued

under applicable legislation

as a result of execution of Warrants Series


II does not exceed 35% of the issued and

stipulated in Article 6 of FSA Regulation No. 32/POJK.04/2015).

2016

to the implementation PMHMETD (as

ANNUAL REPORT

fully paid shares in the Company prior

167

The Board of Commissioners The Board of Commissioners is a corporate organ that collectively in charge and responsible for exercising oversight and advises the Board of Directors, as well as ensuring that the Company has executed on the Good Corporate Governance at all levels of the organization.

Composition of the Board of Commissioners in 2016 Position

NamE

President Commissioner/Independent Commissioner

Bambang Soepeno


Achmad Fachmi

Commissioner

Roswita Nilakurnia

Commissioner

Saptono Siwi

Functions, Duties and Authority

Kilas Kinerja 2016

Laporan Manajemen

Profil Perusahaan

Activity of the Board of Commissioners is

In performing its duties, the Board of

held monthly internal meeting attended by

Commissioners is assisted by the Audit Committee,

all Members of the Board of Commissioners,

Risk Monitoring Committee, and Remuneration

Secretary of the Board of Commissioners and the

and Nomination Committee. Composition of

Audit Committee. Profile of the Member of the

the Audit Committee and Risk Monitoring

Board of Commissioner contained in a separate

Committee has been adjusted with the requisite

chapter in this Annual Report.

skills to two members of the independent parties and chaired by an Independent Commissioner.

Broadly speaking, the Board of Commissioners has conducted Company oversight, including

Meanwhile, in carrying out its duties and functions,

the supervision of duties and responsibilities, as

the Commissioners held monthly meetings and

well as provide advice to the Board of Directors,

joint meetings with the Board of Directors.

direct, monitor and evaluate the implementation of the Company’s strategic policy.

Duties and responsibilities of the Board of Commissioners are:


Duties 1. Supervise the management course and

REPORT

2016 ANNUAL

policy carried out by the Company’s Board of Directors through regular monthly meetings throughout 2016. 2. Supervise the practice of good corporate

implementation of the Annual General Meeting of Shareholders financial year 2016. 4. Provide advice to the Board of Directors regarding the Company’s management,

governance, including a review of the financial

including monitoring the Company’s work

statements include the quarter financial

plan implementation, consists of:

report throughout 2016 as well as oversight

a. Bank Business Plan (RBB) 2015-2017

of the follow-up of the findings of the internal

b. Company Work Plan and Budget (CBP) 2016

audit, external audit and the Supervisory of

c. Other work plan prepared by the Board of

Bank Indonesia and submission of financial statements in 2016.

168

3. Provide accountability of the supervision

Directors 5. Approved the 2016-2018 Bank Business Plan.

Authorities 1. Check out books, letters, and other documents, to examine the cash for verification purposes and other securities, and the Company’s assets. 2. Ask for an explanation from the Board of Directors and/or other officials on all issues related to the management of the Company, and held in conjunction with the meeting of the Board of Commissioners during 2016. 3. Aware all the policies and actions that have been and will be implement by the Board of Directors. 4. Request the Board of Directors and/ or other

8. Use experts for certain things and in a certain period at the expense of the Company, if deemed necessary. 9. Perform acts of management of the Company in certain circumstances for a period in accordance with the provisions of the Articles of Association. 10. Attending the meeting of the Board of Directors and provide opinions on the matters discussed 11. Running the authority granted by the AGM include: a. Determine salary/honorarium of the

officials under the Board of Directors with the knowledge of the Board of Directors to attend the meetings of the Board of Commissioners. 5. Appoint and dismiss the Secretary of the Board of Commissioners.

Board of Directors b. Conduct remove receivable. 12. Carry out other surveillance authority that not contrary to the legislation, Articles of


Association, and/decision of the General Meeting of Shareholders.

6. Temporarily discharge the members of the


Board in accordance with the provisions of the Articles of Association. 7. Established an Audit Committee, Risk Monitoring Committee, Remuneration

CORPORATE

and Nomination Committee and other

GOVERNANCE

committees, if considered necessary by taking into account on the Company ability.

Criteria


The criteria of all members of the Board of Commissioners: 1. Have integrity, competence and adequate financial reputation.

4. Have Guidelines and Work Ethics binding for all members.

2016

3. Never be degrading and has never been convicted of a felony.

ANNUAL REPORT

2. Never declared bankrupt or were found guilty for causing a company to go bankrupt.

169

Working Guidelines/Board Charter of The Board of Commissioners In carrying out any activity in business activities

The contents of the Board Charter are:

in the Company, each member of the Board of

1. Introduction

Commissioners is bound with rules that serve

2. Legal Basis

as guidelines and work rules of the Board of

3. Duties, Authorities, Obligations and

Commissioners, called the Board Charter/ Guidelines and Code of Ethics.

Responsibilities 4. Work Ethics of the Board of Commissioners 5. Working Time 6. Division of Work 7. Meeting 8. Report 9. Correspondence 10. Organization 11. Closing

Kilas Kinerja 2016

Independence Board of Commissioners implement the duties and responsibilities independently and did not receive the intervention from shareholders

Laporan Manajemen

or other parties. The Board of Commissioners

4. Term of office a. Appointed by the GMS for a term of four years and may be reappointed. b. Ended when the term expires, resigns,

perceive and solve problems put aside personal

no longer meets the requirements of

interests and avoid conflicts of interest.

legislation, passed or dismissed by the GMS.

Profil Perusahaan


Provision of Commissioner Position 1. The composition of the Board of

REPORT

2016 ANNUAL

of Commissioners is determined by the GMS

Commissioners in 2016 has to be effective

included the honorarium and retirement

to enable decision-making can be done

benefit in accordance with applicable

effectively, accurately, quickly and

regulations.

independently. 2. Commissioners may not concurrently hold

6. In case of vacancy of the Commissioner, the positions are filled conducted in accordance

other positions in private/international

with the provisions of the Articles of

business that may pose a conflict of interest,

Association.

either directly or indirectly with the Company and does not conflict with the Legislation. 3. Fellow Commissioners and fellow members of the Board of Directors as well as between members of the Commissioners Board members should not have any family relation.

170

5. Remuneration for the member of the Board

7. Commissioners can be dismissed for a while by the GMS if the act is contrary to the Articles of Association or dereliction of duty, or there are reasonable grounds.

Number, Composition and Term of Office of the Board of Commissioners The Board of Commissioners consists of 4

Based on the Articles of Association of the

(four) members, namely 1 (one) President

Company, the Board of Commissioners are

Commissionerconcurrent positions as

appointed and dismissed by the General Meeting

Independent Commissioner, 1 (one) Independent

of Shareholders. Composition of the Board of

Commissioner and two (2) Commissioners.

Commissioners are: Term of Office

Place & Date of Birth

Position

Bambang Soepeno

Surakarta, November 23, 1952

Achmad Fachmi

NamE

Start

End

President Commissioner/ Independent Commissioner

March 27, 2014

GMS 2018

Jember, April 19, 1956


April 3, 2013

GMS 2017

Roswita Nilakurnia

Banda Aceh, October 24, 1966

Commissioner

March 25, 2015

GMS 2019

Saptono Siwi

Purworejo, November 25, 1960

Commissioner

April 20, 2016

GMS 2020

Work Relationship Between the Board of Commissioners and Directors 1. Board of Commissioners respect the role and


4. Board of Directors is responsible for ensuring

functions of the Board of Directors to manage

that the information regarding the Company

the Company as stipulated in the regulations

granted to the Board of Commissioners in a

of Legislation and the Articles of Association.

timely and complete.

2. Board of Directors respect the function



5. Board of Directors are responsible for

and role of the Board of Commissioners to

delivering reports required by the Board

conduct monitoring and providing policy

of Commissioners on a regular basis in

advice to the management of the Company.

accordance with applicable regulations

3. The Board of Commissioners reserves


the right to gain access to the Company

NamE

Position

Relation With Holding COmpany

Bambang Soepeno

President Commissioner/ Independent Commissioner

Retired

Achmad Fachmi


Nil

Roswita Nilakurnia

Commissioner

Nil

Saptono Siwi

Commissioner

Employee

ANNUAL REPORT

Board of Commissioners relation with Holding Company

2016

information, timely and complete.

171

Financial and Family Relationships of the Members of the Board of Commissioners

NamE

Kilas Kinerja 2016

Financial Relationship With

Family Relationship With

Board of Directors

Board of Directors

Board of CommissionerS

Controlling Board of Shareholders CommissionerS

Controlling Shareholders

Yes

No

Yes

No

Yes

No

Yes

No

Yes

No

Yes

No

Bambang Soepeno

-



-



-



-



-



-



Achmad Fachmi

-



-



-



-



-



-



Roswita Nilakurnia

-



-



-



-



-



-



Saptono Siwi

-



-





-

-



-



-



Meetings of the Board of Commissioners Meetings of the Board of Commissioners with the Division or Section held every Wednesday. Based on the results of the GMS in March 2016, a change in the structure of the Board of Commissioners of BRI Agro namely; Mr. Zainuddin Mappa replaced by Mr. Saptono Siwi. With the changing composition of

Laporan Manajemen

the Board of Commissioners in 2016, after it was decided at the 2016 GMS, then also affected to the meeting attendance of the Board of Commissioners. Here is the attendance of the meetings of the Board of Commissioners in 2016:

Profil Perusahaan

NamE

Position

Attendance

B E F O RE G MS 2016 ( JA N UA R Y 1 – A PR IL 20)

REPORT

2016 ANNUAL


172

Bambang Soepeno


100%

Achmad Fachmi


100%

Roswita Nilakurnia

Commissioner

14%

Zainuddin Mappa

Commissioner

71%

A F T E R G M S 2016 ( A PR IL 21– DEC EMB ER 31) Bambang Soepeno


90%

Achmad Fachmi


90%

Roswita Nilakurnia

Commissioner

40%

Saptono Siwi

Commissioner

100%

During 2016, the Board of Commissioners and Board of Directors held 12 meetings which addressed the agenda: No.

Date

Agenda

Description

1

January 6, 2016

Discuss Agribusiness Division Business

Board of Commissioners and Agri Business Division

2

January 11, 2016

Regular discussion regarding the Financial and Risk Management Division

Board of Commissioners, Audit Committee and Risk Monitoring Committee

3

January 13, 2016

Discussion of the candidate nomination for the Board of Directors

Board of Commissioners and Nomination and Remuneration Committee

4

January 25, 2016

Discussion of the candidate nomination for the Board of Directors


5

March 11, 2016

Addresses the funding issue

Board of Commissioners and Funds and Services Division

6

March 22, 2016

Business Discussion of General Business Division

Board of Commissioners and General Business Division

7

June 8, 2016

Discussion of the audit issues

Board of Commissioners and SKAI

8

June 22, 2016

Discussion of the Remuneration Committee and the Secretary of the Board of Commissioner


July 27, 2016

Discussion of HR issues

Board of Commissioners and Human Capital Division

August 31, 2016

Discuss issues related to compliance, risk management and legal

Board of Commissioners, Compliance, Risk Management and Legal Division

9

10

Discussion of treasury issues

Board of Commissioners and Treasury

12

September 12, 2016

Determine the EGMS Meeting Leader

Board of Commissioners and

13

October 26, 2016



14

November 2, 2016





2016

September 7, 2016


ANNUAL REPORT

11


173

Joint Meeting of the Board of Commissioners and Board of Directors To establish coordination of the implementation of good governance, the Board of Commissioners held joint meetings with the Board of Directors in the reporting period that executed 16 times, and 11 times among the routine agenda of monthly performance of BRI Agro, one time to discuss Revision of RBB, and 4 times kick off meeting and exit meeting with PAF EY. NamE

Position

Attendance

B E F O RE G MS 2 0 1 6 ( JA N UA R Y 1 – A PR IL 2 0 ) Bambang Soepeno


4

Achmad Fachmi


4

Roswita Nilakurnia

Commissioner

1

Zainuddin Mappa

Commissioner

2

A F T E R G M S 2 0 1 6 ( A PR IL 2 1 – DEC EMB ER 3 1 )

Kilas Kinerja 2016

Laporan Manajemen

Bambang Soepeno


12

Achmad Fachmi


12

Roswita Nilakurnia

Commissioner

3

Saptono Siwi

Commissioner

7

During 2016, the meeting of the Board of Commissioners and Board of Directors held 12 times of which addressed the agenda: No.

Profil Perusahaan

1

REPORT

2016 ANNUAL

January 21, 2016

Agenda

Attendance

Discussion of the Company’s Performance in December 2015

All Commissioners, except Ms. Roswita; all Directors; Division Head of SAKI; SKP; AMK and Committee; Secretary of the Board of Commissioners

2

February 17, 2016

Discussion of the Company’s Performance in January 2016

All Commissioners; all Directors, except Business Director; Committee and Division Head of SKAI, SKP, AMK, DBU

3

March 21, 2016

Discussion of the Company’s Performance in February 2016

Two Commissioners, all Directors, Committee and Division Head of SKAI, SKP, DBU, DBA

April 15, 2016

1. Discussion of the Company’s Performance in March 2016 • Brief Financial Statements • Developments of Loan Collectible 2. Dialogue between Commissioners & Directors Assets, Liabilities, Profit/Loss, BPK dan FSA Findings, Legal Cases, Liquidity, Layout Optimalization of Head Office Building

Three Commissioners, all Directors, Committee, four Division Head of SKAI, SKP, DBU, DBA, Secretary of the Board of Commissioners


4

174

Date

No.

5

6

7

8

9

10

Attendance

May 27, 2016

1. Discussion • Company’s Performance in April 2016 • Loan Development in April 2016 2. Dialogue between Commissioners & Directors Assets, Liabilities, Profit/Loss, Liquidity

Three Commissioners, all Directors, Economist, Division Head of PRK, SKP, DBU, DBA, DJS and Secretary of the Board of Commissioners

June 15, 2016

1. Discussion • Company’s Performance in May 2016 • Loan Development in May 2016 2. Dialogue between Commissioners & Directors Assets, Liabilities, Profit/Loss, Liquidity

Three Commissioners; Economist; Committee; all Directors, except Business Directors; and Division Head of DBU, DBA, DJS, SKAI, AMK; Secretary of the Board of Commissioners

July 20, 2016

1. Discussion of the Company’s performance in June 2016 on the development of the increased share price. 2. Financial Statements brief discussion, development of loan collectibility, RBB plan, discussion of HR 3. Discussion on the product innovations such as mobile banking and CMS

All Commissioners, except President Commissioner; all Committee members; Committee Secretary; all Directors; all Division Head; Chairman of SKAI, Head Section of AMK

August 22, 2016

1. Discussion of the Company’s performance in July 2016 2. Changes in Organizational Structure and Capital Increase Plan 3. Financial Statements brief discussion, development of loan collectibility and Branch development 4. Discussion regarding theaddition of HR 5. Discussion of Macroeconomic Analysis

All Commissioners, all Committee members, Chief Economist, Secretary of the Board of Commissioners, all Directors, all Division Head, Chairman of SKAI, Head Section of AMK

September 21, 2016

1. Discussion of the Company’s performance in August 2016 2. Discussion of EGMS plan 3. Financial Statements brief discussion, development of loan collectibility and Branch development

Three Commissioners, all Committee members, Secretary of the Board of Commissioners, all Directors, and all Division Head, Deputy Head of Operation Division

October 17, 2016

1. Discussion of the Company’s performance in September 2016 2. Process of PUT VI 3. Changes in Organizational Structure 4. Investment Plan

All Commissioners, Directors, Division Head, Committee, and Section Head of AMK, Division Head of SKP, SDM and Economist

November 16, 2016

1. Discussion of the Company’s performance in October 2016 2. Macroeconomic Discussion


December 14, 2016

1. Discussion of the Company’s performance in November 2016 2. Discussion on Indonesia Economic prospects and challenges in 2017






2016

12

Agenda

ANNUAL REPORT

11

Date

175

Remuneration for the Board of Commissioners Remuneration of the Board of Commissioners is set in the Remuneration and Nomination Committee with GMS approval. The total remuneration received by the Board of Commissioners in 2016 as follows: Total Member of The Board of Commissioners

Amount

Remuneration (salary, bonus, routine allowance, tantiem and other facilities in the form of non natura)

4

Rp3.422.862.500

Other facilities in kind (housing, transportation, health insurance, etc.) that: 1. can be owned 2. can not be owned

4

Rp367.200.000

Description

Board of Commissioners Development Program Kilas Kinerja 2016

During 2016, the Company has conducted training programs and personal development activities to enhance the capacity of members of the Board of Commissioners. Training and activities that followed, namely:

Laporan Manajemen

Profil Perusahaan

REPORT

2016 ANNUAL


176

Activity

Participant

International Conference 2016 New York, USA


LSPP Risk Management Certification (Level 1 Commissioner)

Commissioner

Bambang Soepeno Saptono Siwi

Date July 16-24, 2016 August 18, 2016

the Board of Directors Composition of the Board of Directors Position

NamE

President Director

I Komang Sudiarsa

Director

Mustari Damopolii

Director

Zuhri Anwar

Director

Sahala Manalu

Director

Zainuddin Mappa

Number, Composition, and Term of Office of the Board of DirecTors In accordance with the Articles of Association,

Throughout 2016, the composition of the

Member of the Board of Directors appointed

Board of Directors amended with the following

by GMS for a term of four years and may be

composition:

reappointed for another term without prejudice to the right of the GMS to dismiss at any time by


stating the reasons.

NamE

Date of Birth

Term of Office Position Start

End GMS 2020

I Komang Sudiarsa

November 15, 1959 President Director

April 20, 2016

Mustari Damopolii

May 15, 1956

Director

March 25, 2015 GMS 2019

Zuhri Anwar

September 7, 1960

Director

March 25, 2015 GMS 2019



Sahala Manalu

January 24, 1959

Director

April 20, 2016

GMS 2020

Zainuddin Mappa

November 25, 1961 Director

April 20, 2016

GMS 2020

Criteria 1. The majority of members of the Board of

the Company. 2. All members of the Board of Directors reside in Indonesia. 3. All members of the Board of Directors:

convicted of a felony. c. Does not have another position as Commissioner, Director or Executive Officer at similar companies, and/or other

2016

the area of operations as Executive Officer of

b. Never be degrading and has never been ANNUAL REPORT

Directors has had more than 5 (five) years in


institutions. d. Do not have financial and family

a. Never declared bankrupt or declared

relationships with other members of the

guilty for causing a company to go

Board of Commissioners, members of the

bankrupt.

Board of Directors and/or shareholders of the Company.

177

Independence of President Director President Director of the Company is an

3. President Director also did not have a family

independent party as required by Bank Indonesia

relationship to the second degree, including

Regulation No. 8/4/PBI/2006 dated January 30,

in laws with members of the Board of

2006 on the Implementation of Good Corporate Governance for Banks, namely:

Commissioners and Board of Directors. 4. President Director does not in charge of the

1. President Director is independent of the

Company’s compliance function.

Controlling Shareholder. 2. Independence of the President Director assesed based on relevance is concerned in the management, financial relations and family ties with the Controlling Shareholder.

Distribution of Tasks Between Directors President Director Kilas Kinerja 2016

Laporan Manajemen

Profil Perusahaan

1. Improves prudential banking activities of the bank in order to always be guided by the

through education and training that is

Standards Operational Procedures (SOP),

structured according to the needs of each

Compliance and Risk Management. 2. Plans the concepts and strategies to achieve

Secretariat Division, Internal Audit Unit and

budget planning set out in the annual work

Human Resources Management Division.

meeting and conduct periodic evaluations of the achievement of business goals. performance shown by optimum balance sheets and profitability (income statement) with the achievement in soundness category “unconditionally healthy” based on the results

REPORT

2016 ANNUAL

of the annual examination of Bank Indonesia

178

work units. 5. Coordinates the task execution of Corporate

business objectives in accordance with the

3. Improves the Company’s image and Informasi bagi Investor

4. Improves the quality of human resources

during the year.

Operations and Finance Director 1. Improves prudential banking activities in order to always be guided by the Company and Standard Operating Procedures (SOP), Compliance and Risk Management.

4. Increases orderly financial records to always stick to the Guidelines of Financial Accounting Standards (SFAS) applies. 5. Improves the quality of human resources

2. Plans the strategy concept to achieve work goals in accordance with the budget planning Directorate of Operations and Finance as set out in the annual work meeting.

through education and training that is structured according to the needs of each unit of work that lay beneath. 6. Coordinates and monitors the work unit

3. Improves the image of banking services

implementation under the supervision of

through the creation of innovative programs

the Directorate of Operations and Finance,

and treasury products.

Asset and Liability Committee (ALCO) and the Information Technology Steering Committee.

Business Director 1. Implements prudential banking activities of the bank in order to always be guided by the Standard Operational Procedure (SOP), Compliance and Risk Management. 2. Plans the strategy concept to achieve work goals in accordance with the budget planning Directorate of Business as set out in the annual work meeting. 3. Improve the image of the bank through the

5. Maintains and improve good relations with the institutions that are closely related to credit and financing. 6. Improves the quality of human resources through education and training that is structured according to the needs of each unit

of the work unit under the supervision of the Directorate of Business and Credit

marketing strategies and to determine the

Committee.

4. Improves good relationship with major customers (captive), and create a new


of work that lay beneath. 7. Coordinates and monitor the implementation

creation of innovative, effective, and efficient credit market segmentation.




customer (add customer base), both agribusiness and other potential sectors.

2016

ANNUAL REPORT

179

Credit Risk Management and Financing Director 1. Implements prudential banking activities

4. Improves the administrative order,

of the bank in order to always be guided by

particularly in relation to the management of

the Standard Operational Procedure (SOP),

bank credit for the creation of a cautious or

Compliance and Risk Management.

prudential banking.

2. Plans the strategy concept to achieve work goals in accordance with the budget planning Directorate of Credit Risk Management and Financing as set out in the annual work meeting.

5. Improves guidance and resolution of troubled credits in order to maintain the bank soundness. 6. Coordinate and monitor the implementation of the work unit under the supervision of the

3. Improves the image of banking services through the creation of innovative programs

Directorate of Credit Risk Management and Financing and the Credit Policy Committee.

and products and a third party (DPK).

Compliance Director Kilas Kinerja 2016

1. Implements prudential banking activities of the bank in order to always be guided by the Standard Operational Procedure (SOP), Compliance and Risk Management.

Laporan Manajemen

2. Sets out the necessary steps to ensure that the Company has complied with all the regulations of Bank Indonesia and other laws and regulations applicable in the context of

Profil Perusahaan

REPORT

2016 ANNUAL

commitments made to Bank Indonesia. 5. Prevents the Company’s Board of Directors not to take the policies and/or establish a decision which deviates from Bank Indonesia regulations and other laws and regulations. 6. Coordinates and monitors the implementation of the work unit under the

principle.

supervision of the Directorate of Compliance

business activities do not deviate from the

180

compliance to all agreements and

the implementation of the precautionary 3. Monitors and maintains the Company’s


4. Monitors and maintains the Company’s

provisions in force.

and Risk Management Committee. 7. Reports the duties and responsibilities to the President Director with a copy to the Commissioner.

Working Procedure Guidelines of the Board of Directors In carrying out any activity in business activities

1. Work Guidelines of the Board of Directors

in the Company, each member of the Board of

2. Organization

Directors bound by the rules that guide and work

3. Independence of the President Director

rules as the Board of Directors named Board

4. Duties and Authorities of the Board of

Charter/Guidelines and Code of Ethics.

Directors 5. Work Ethics

Working procedure guidelines of the Board of

6. Working Time

Directors stipulated in the Decree of the Board

7. Tasks division between the Board of Directors

of Directors No. Kpts.13/Dir.01.02/SKP/XII/2012

8. Board of Directors meetings

dated December 28, 2012 which includes:

9. Committees of the Board of Directors 10. Executing tasks related to the GMS and Corporate Actions

Board of Directors relation with Holding Company NamE

Position

Relation With Holding COmpany

I Komang Sudiarsa

President Director

Retired

Mustari Damopolii

Director

Retired

Zuhri Anwar

Director

Retired

Sahala Manalu

Director

Retired

Zainuddin Mappa

Director

Employee




Financial and Family Relationships of the Members of the Board of Directors

NamE

Financial Relationship With

Family Relationship With

Board of Directors

Board of Directors

Board of CommissionerS

Controlling Board of Shareholders CommissionerS


Controlling Shareholders

Yes

No

Yes

No

Yes

No

Yes

No

Yes

No

I Komang Sudiarsa

-



-



-



-



-



-



Mustari Damopolii

-



-



-



-



-



-



Zuhri Anwar

-



-



-



-



-



-



Sahala Manalu

-



-



-



-



-



-



Zainuddin Mappa

-



-





-

-



-



-



2016

No

ANNUAL REPORT

Yes

181

Performance Assessment of the Board of Directors Performance Assessment ot the Board of Directors annually conducted by the Shareholders. The targets set for 2016 and its realization can be seen in the following table:

Key Performance Indicator

RBB DeC 2016

Realization

AcHievement

A SSETS Total Asset s

10,561

11,414

108.08%

Total KYD

7,162

8,180

114.21%

Total Third Party Funds

8,080

9,224

114.16%

Q UA LITY O F A SSETS NPL (Gross)

2,4%

2,9%

NPL (Net)

1,6%

1,4%

LIQ UIDITY Kilas Kinerja 2016

LDR

Profil Perusahaan

102

103

NIM

4,4%

4,4%

BoPo

87,0%

87,6%

ROE

7,1%

7,3%

ROA

1,5%

1,5%

Cost of Fund (Cof)

6,7%

7,2%

49,1%

46,4%

Cost Efficiency Ratio (CER)

REPORT

2016 ANNUAL


182

88,2%

PRO F ITA B ILITY Net Income

Laporan Manajemen

88,6%

101.6%

C A PITA L Tier1 CAR

1,895

1,878

Total CAR

24,1%

23,7%

99%

Meeting of the Board of Directors Every decision and strategic policies established

Any decision taken by the Board of Directors

by the Board of Directors Meeting, decision

meetings are implemented and the decision does

making is based on consensus, with regard to the

not conflict with applicable regulations and work

provisions in force.

rules.

The Board of Directors meeting results are written in the minutes of meetings and administered properly, including dissenting opinions, if any.

Attendance of Board of Directors Internal Meeting NamE

Position

Attendance

B EF O R E GMS Heru Sukanto

President Director

90%

Mustari Damopolii

Director

100%

Zuhri Anwar

Director

86%

Sahala Manalu

Director

100%

Sudarmin Sjamsoe

Director

100%



A F TER GMS I Komang Sudiarsa

President Director

90%


Zuhri Anwar

Director

86%

Sahala Manulu

Director

100%

Mustari Damopoli

Director

93%

Zainuddin Mappa

Director

100%


2016

ANNUAL REPORT

183

Agenda and Board of Directors Meeting Subject Throughout 2016 the Board of Directors has carried out 27 times meeting with the following agenda: No.

Date

Agenda

Attendance

January 18, 2016

Rantau Prapat Case Decision

All Directors, Head of HRM Division, Act. Deputi Head of HRM Section

2

January 20, 2016

1. Appointment of Solo Branch Manager and subordinates 2. Appointment of Head of Group 1 -SKAI and subordinates 3. Appointment of Head of IT Division 4. Appointment of Head of Internal Audit Quality Assurance 5. Appointment of Deputy Head of of HRM Division 6. Improving the status of Treasury Section became Treasury Desk 7. Medium AO allowances and Program

All Directors, Head of HRM Division, Head of SKP Division, Act. Deputi Head of HR Policy Section

3

January 25, 2016

1. Financial Performance Report 2015 2. Bank Business Plan (RBB) Year 2016-2018

Directors and Head of SKP Division

1

Kilas Kinerja 2016

Laporan Manajemen

4

January 26, 2016

1. Discussion of Human Resource 2. Discussion of Business

All Directors, Division Head of SKP, MSDM, Consumer and Retail Business, Pekanbaru Branch Manager, KMRH Division, Deputy Head of Legal Section

5

February 16, 2016

1. Employees mutation 2. Determination of Cikarang Branch Office Directors

All Directors, except Business Director; Division Head of HRM, SKP

6

Februari 26, 2016

1. 1. 2. 3. 4.

All Directos, except Business Director; Head of HRM Division, Staff of Policy Section

7

March 30, 2016

1. Workers mutation 2. Proposed education 3. Equivalence rank assignment worker

All Directors, Division Head of SKP, HRM, Head of HR Ops Section, Act. Deputi Head of HR Policy Section

8

April 4, 2016

COP provisions agenda

All Directos, except Business Director; Head of HRM Division

Profil Perusahaan

REPORT

2016 ANNUAL


184

Financial year 2015 bonus Bonus tahun buku 2015 Perubahan Tunjangan Penyesuaian UMR Rekrutment ODP

No.

9

10

11

Agenda

Attendance

April 13, 2016

1. Leadership training for MP and Sub Branch Manager 2. Altered consciousness for Workers 3. Forum of Division Head 4. Needs for soft skills training 5. Summoned of Bekasi Branch Manager 6. Tangerang Sub Branch Manager incorporated into Supervisor education 7. Job promotion 8. The addition of the target in the proposed sale 9. Incentive payments 10. Workers mutations 11. Mutations of Depok and Bekasi Sub Branch Manager 12. Enhancement of Depok and Bekasi Sub Branch Manager 13. Leadership Skill Improvement for Pekanbaru Branch Manager 14. BPK findings

All Directors, Division Head of SKP, HRM, Deputy Head of HRM Division, Staff of HR Policy Section

April 26, 2016

Directives of the Board of Directors regarding: 1. The need for hard work and innovation to sell the inexpensive fund 2. Focus on ATM Network 3. Reports Monitoring. 4. Attention to outposts costs 5. Credit discussion 6. FO Education 7. NPL discussion

May 24, 2016

1. Retired Assurance (BPJS for Employment) 2. Workers additional requirement to be met by BRI 3. Disadvantages PPH 21 at the end of the board and BRI Workers assignment 4. Reorganization: • IT Division • Operations Division • SKP Division • Change Management Division • Change background color ID cards of Directors, Commissioners and Committees • Leadership education

All Directors; Division Head of SKP, Operations, Consumer and Retail Business; Deputy Head of Funds & Services Division; Head, Deputy Head and Staff of HRM Division

June 17, 2016

Discussion on THRK 1. THRK Criteria 2. Worker THRK recipients 3. Directors and Commissioners THRK recipients 4. THRK Tax 5. THRK Component calculation 6. Payment of THRK in accordance with their respective religious festivals 7. Determination of the THRK payment date

All Directors; Division Head of SKP, Operations, Consumer and Retail Business; Deputy Head of Funds & Services Division; Head, Deputy Head and Staff of HRM Division


All Directors, Head of HRM Division, Staff of HR Policy Section, all Branch Manager and Sub-Branch Manager Jadetabek




2016

ANNUAL REPORT

12

Date

185

No.

13

14

Kilas Kinerja 2016

Laporan Manajemen

REPORT

Attendance

June 28, 2016

Discussion on incentive 1. Incentive payment criteria 2. Incentive recipients 3. Incentive payment formula 4. Constants criteria 5. Incentive multiplier factor 6. Appreciation for PKSS Workers 7. Rearrangement of work clothes 8. Rearrangement of meal allowances

All Directors; Head of SKP Division; PPT Head of Operations Division; Head, Deputy Head and Staff of HRM Division

July 20, 2016

1. 2. 3. 4. 5. 6. 7.

Discussion of Branch Manager Mutations COP Head Division Allowances discussion for Branch Manager DBRK reorganization Change Management Organization ODP mapping Educational activities for Branch Manager and Sub-Branch Manager

All Directors, Head of HRM Division and one staff

15

August 3, 2016

1. Reorganization at Head Office 2. Discussion on the promotion of Position HR 3. Reorganization at Branch Office

16

August 15, 2016

1. Discussion of limited public offering PUT VI schedule 2. Discussion on the number of shares

All Directors, Division Head of SKP dan MSDM

17

August 15, 2016

1. HR mutation 2. Appointment of Head Section Formation 3. Wage adjustment

All Directors and Head of HRM Division

1. 2. 3. 4. 5.

Remuneration Job descriptions guidance for Branch Office Education for Branch Manager ODP recruitment Concept of bonuses and incentives provision in 2017 6. Performance Assessment and KPI

All Directors, Head of HRM Division and Staffs

18

August 22, 2016

19

August 29, 2016

1. Discussion on Workers Mutations 2. Appointment of BRI Branch Manager 3. Allowances for Branch Manager

All Directors, HRM Division

20

September 20, 2016

1. The meeting results of the Board of Directors of BRI Agro with Investment Services Division of Bank BRI 2. Changes in the Company Logo 3. Appointment of Shares Consultant

All Directors, Head of SKP Division and Deputy Head of Operations Division

21

October 5, 2016

1. 2. 3. 4.


2016 ANNUAL

Agenda

All Commissioners, except President Commissioner; all Committee members; Secretary of the Board of Commissioners, all Directors, all Division Head, Chairman of SKAI, Head of AMK Section

Profil Perusahaan

186

Date

Discussion on Land Purchase Plan Shareholding in 5 Rural Banks Discussion of the new logo FORKOM discussion

All Directors, Division Head of SKP & HRM

No.

Date

Agenda

Attendance

22

October 24, 2016

1. Discussion on RBB year 2017 -2019 2. Change in Decision of Credit Authority Delegation (PDWK)

All Directors, Head of SKP Division, Deputy Head of AMK Division, Head of Business & PRK Division

23

November 2, 2016

1. Workers promotion 2. Mutation and workers promotion 3. Workers resignation

All Directors; Head, Deputy Head and Staff of HRM Division

24

November 10, 2016

The discussion process regarding the land purchase for the expansion of the Head Office area

All Directors, Head of SKP Division, Head of KMRH Division

25

December 5, 2016

1. Discussion on Liquidity by the end of 2016 2. Meeting result with Bank BRI regarding the Management of Subsidiary 3. Tagline of BRI Agro

All Directors, Division Head, Deputy Head and Staff of AMK Division

26

December 6, 2016

1. Mutation and promotion 2. Workers resignation

All Directors and HR

December 21, 2016

1. 2. 3. 4. 5. 6. 7. 8.

• All Directors • Head of HRM Division • Deputy Head of HRM Division • Staff of HRM Division

27

Placement of BRI Workers Workers recruitment HRM Division Organization ODP Career Development Branch Manager Evaluation Workers Resignation Promotion and PHK alm Health insurance





2016

ANNUAL REPORT

187

Board of Directors Development Program During 2016, the Company has implemented training programs and self development activities to enhance the capacity of members of the Board of Directors. Training and activities that followed, namely; Activity

Participant

Date

• I Komang Sudiarsa Refreshment BSMR Level 4 (Directors) : Formulation of ICAAP (Internal Capital Adequacy Assessment Process) Policy by BSMR, Jakarta

President Director

• Zainuddin Mappa Director

May 21, 2016

• Sahala Manalu PRK dan Financing Director

Seminar FKDKP (Communication Forum of Banking Compliance Director) by FKDKP, Jakarta

Mustari Damopolii Compliance Director

Mei 26, 2016

• I Komang Sudiarsa Kilas Kinerja 2016

Risk Management Sector Competency Test Level 4 by LSPP, Jakarta

President Director

• Zainuddin Mappa

June 22, 2016

Director

• I Komang Sudiarsa President Director Laporan Manajemen

• Mustari Damopolii Training Day KPO: Exposure of “Tax Amnesty” and its relation to the Personal Income from BRI Agro Tax Consultant (Speaker: Mr. John)

Business Director

OJK : Workshop “Financing Renewable Energy Projects” Jakarta

REPORT

2016 ANNUAL

188

August 2, 2016

PRK dan Financing Director

• Zuhri Anwar

Profil Perusahaan


Compliance Director

• Sahala Manalu

Indonesia Banking Human Capital Conference / Perbanas - Jakarta

Zuhri Anwar Business Director

Mustari Damopolii Compliance Director

September 19, 2016 October 13, 2016

Remuneration for the Board oF Directors Remuneration of Directors proposed by the

Total remuneration received by the Board of

Nomination and Remuneration Committee for

Directors in 2016 as follows:

approval at the GMS. Total Member of The Board of Directors

Amount

Remuneration (salary, bonus, routine allowance, tantiem and other facilities in the form of non natura)

5

Rp9.361.400.000

Other facilities in kind (housing, transportation, health insurance, etc.) that: 1. can be owned 2. can not be owned

5

Rp750.000.000

Description

DIVERSITY COMPOSITION OF THE BOARD OF COMMISSIONERS AND DIRECTORS Gender

Age

NamE Male

Female

<30

31-50

>50



BOA RD OF C O MMISSIO N ER S Bambang Soepeno



 

Roswita Nilakurnia

CORPORATE



GOVERNANCE

Achmad Fachmi





Saptono Siwi





BOA R D O F DIR EC TO R S



Zuhri Anwar





Sahala Manulu





Mustari Damopoli





Zainuddin Mappa





2016



ANNUAL REPORT

I Komang Sudiarsa


189

Committees Under the Board of Commissioners

Audit Committee Legal Basis The Audit Committee is a committee under the

c. Bank Indonesia Circular Letter No.

Board of Commissioners, which was established

15/15/DPNP dated April 29, 2013 on the

by the Decree of the Board of Directors No. Kpts

Implementation of GCG for Commercial

R.19 / Dir.01.02/HRM/II/2016 dated February 22, 2016 based on the decision of the Board of

Banks 2. Regulation of the Financial Services Authority

Commissioners meeting No.01./DK-I/2016 dated

(FSA, previously Bapepam-LK)

January 18, 2016.

Regulation of the Financial Services Authority (POJK) No. 55/POJK.04/2015 dated

The legal basis for the establishment of the Audit

December 23, 2015 on the Establishment

Committee is referring to:

and Implementation Guidance of the Audit

1. Bank Indonesia Regulation (PBI)

Committee which revoked the Head of

a. PBI No. 8/4/PBI/2006 dated January

Bapepam-LK Decree No. 643/BL/2012 dated

30, 2006 on Implementation of Good

December 12, 2012 and its attachments IX.I.5

Corporate Governance (GCG) for

on the Establishment and Implementation

Commercial Banks;

Guidance of the Audit Committee.

b. PBI No. 8/14/PBI/2006 dated October 5, Kilas Kinerja 2016

3. The Articles of Association of the Company

2006 on the Amendment of PBI No. 8/4/ PBI/2006 on the Implementation of GCG for Commercial Banks;

Laporan Manajemen

Profil Perusahaan


Composition of Audit Committee The Audit Committee consists of 3 (three)

The independence of the members of the Audit

members and chaired by an Independent

Committee is shown through the background of

Commissioner and two other members are

members of the Audit Committee from external/

independent parties from outside the Company.

outside of the Company’s management. Audit

All members of the Audit Committee must have

Committee members are derived from an

high integrity, experience and competence that

independent party is Eka Sriyantini and Retno

match their field and able to communicate well.

Surdini with a background in banking. It is intended to support the Company’s governance performance is more mature and in accordance

REPORT

2016 ANNUAL

with the principles of good management.

190

In 2016, there was a changes in the composition of the Audit Committee. The following composition of the Audit Committee in 2016: Title

NamE

Date of Birth

Term of Office

JA N UA R Y 1 – 3 1 Chairman, concurrently as member


Achmad Fachmi

April 19, 1956

Period I, Fourth Year

Member

Independent Party

Eka Sriyantini

December 17, 1957

Period I, Second Year

F E BRUA R Y 1 – DEC EMB ER 3 1 Chairman, concurrently as member


Achmad Fachmi

April 19, 1956

Period I, Fourth Year

Member

Independent Party

Eka Sriyantini

December 17, 1957


Member

Independent Party

Setiawan Kriswanto

May 19, 1961


Profile of the Member of Audit Committee Educational background, history of positions and work experience of BRI Agro Audit Committee



members can be found on the Company Profile section of this Annual Report.

Audit Committee Certification NamE

Achmad Fachmi

Chairman, concurrently as member

1. Certificate of Competence - Banking Risk Management, LSPP, June 9, 2012. 2. Certificate – Develop a Bank Business Plans, Short and LongTerm Period, Risk Management Guard, September 11-12, 2013. 3. Risk Management Certification Refreshment Program, BARA Risk Forum, April 24-25, 2014.

Eka Sriyantini

Member

1. Qualified Internal Audit (QIA) 2. Risk Management Certification -BARA

Setiawan Kriswanto

Member

1. 2. 3. 4. 5.

Registered Accountant D 10478 Register Negara Akuntan RNA 2140 Certified Professional Management Accountant (CPMA) - IAMI Chartered Accountant (CA) - IAI Certification of assessor of competency – Badan Nasional Serfitikasi Profesi (BNSP) / Lembaga Sertifikasi Profesi Perbankan (LSPP).


2016

Certification

ANNUAL REPORT

Position

TATA KELOLA PERUSAHAAN

191

Meeting of Audit Committee in 2016 Frequency of Audit Committee Meetings has also been set on Regulation of Financial Services Authority (POJK) No. 55/POJK.04/2015 dated December 23, 2015 on the Establishment and Implementation Guidance of the Audit Committee stated that “the Committee held regular meetings at least once in 3 month”. During 2016, the Audit Committee has held 32 meetings, consisting of: Total meetings

Total Attendance

%

Achmad Fachmi

32

32

100

Setiawan Kriswanto

32

28

88

Ratna Wardhani

32

31

97

NamE

Kilas Kinerja 2016

Besides attending the committee meeting, the

Decision-making in the committee meeting had

committee members were also present at the

been done by consensus or by majority vote

Joint Meetings of the Board of Commissioners

if there is no agreement, and have been well

and Directors each month, perform other tasks

documented (including if there are differences of

include coordinating with related work units to

opinion/dissenting opinion).

obtain relevant data and information. Audit Committee meetings carried out according Laporan Manajemen

to the Company needs and implemented only if attended by at least 51% of the members and of which the Chairman of the Audit Committee.

Profil Perusahaan

Audit Committee Charter The Audit Committee Charter has been amended

REPORT

2016 ANNUAL


implementation of both internal and external

Decision of the Board of Commissioners No. /

audits and follow-up monitoring of the results

DK-02/18-II/2017 dated February 8, 2017,

of both internal and external audits in order

to conform with regulations of the Financial

to assess the adequacy of internal controls,

Services Authority (POJK) No. 55/POJK.04/2015

including the adequacy of the financial

dated December 23, 2015 on the Establishment and Implementation Guidance of the Audit Committee.

reporting process; 3. Provide recommendations to the Board of Commissioners on the appointment of accountants based on independence, the

Committee duties as set out in the Charter includes: 1. Review the financial information to be published by the Company such as the quarterly financial statements, annual reports, projections and other financial information;

192

2. Monitor and evaluate of the planning and

and improved several times, last set by the

scope of the assignment, and the fee; 4. Examine complaints relating to the Company’s accounting and financial reporting

Brief Report of the Implementation of the Audit Committee in 2016 The following description of the activities of the

3. Review the implementation of audit by the

Audit Committee during the year 2016:

Internal Auditor

1. Review the financial information

a. Review the SKAI work plan

a. Monitor the process of preparation of financial statements (quarterly/ yearly) which will be published by held a discussion with the Accounting and Reporting unit. b. Review monthly performance reports

b. Review the results of SKAI examination c. Monitor the follow-up of the recommendations made by the auditor Bank Indonesia, KAP and SKAI 4. Carry out other tasks a. Follow the Board of Commissioners

both consolidated and performance per

monthly meeting with the Board of

branch that will be discussed in the Board

Directors to discuss the Company’s

of Commissioners’ monthly meetings with

performance.

the Board of Directors. 2. Review the implementation of the

b. Follow the Board of Commissioners meetings with the work units to discuss

examination by the External Auditor

the scope of tasks and problems faced by

a. Give recommendations to the Board of

the unit.

Commissioners related to the External

c. Visits to branch offices to find out the

Auditor selection with the independence

problems that occur there and report the

and objectivity, quality of service as well

results to the Board of Commissioners.

as the reasonableness of audit fees. b. Undertake discussions with the Public



Accounting Firm (KAP) which audit the Company about plans, scope and results of the audit.



2016

ANNUAL REPORT

193

Nomination and Remuneration Committee In accordance with Bank Indonesia Regulation

Remuneration Committee which is a committee

No. 8/14/PBI/2006 dated October 5, 2006 and

in the level of the Board of Commissioners,

BI Circular Letter No. 9/12/DPNP on May 30,

consisting of three members and chaired by an

2007 on Implementation of GCG for Commercial

Independent Commissioner with a Commissioner

Banks, the Company has formed Nomination and

and Head of HRM Division as an executive officer.

NOMINATION AND REMUNERATION COMMITTEE COMPOSITION NamE

POSITION

Term of Office

Bambang Soepono

Chairman, concurrently as member

January 1 - Desember 31, 2016

Roswita Nila Kurnia

Member


Karmanita

Member


Duties and Responsibilities Related to Remuneration Function Kilas Kinerja 2016

1. Provide recommendations to the Board of Commissioners on:

Directors and Board of Commissioners;

a. Remuneration structure for members of Laporan Manajemen

considered the financial performance and

Commissioners to be submitted to the

reserve, individual job performance, the

General Meeting of Shareholders;

reasonableness of the peer group, as well

Directors and Commissioners; and

3. Recommend candidates who qualify as members of the Board of Directors

the members of the Board of Directors and/

and/or Commissioners to the Board of

or Commissioners, the criteria required in

Commissioners, to be submitted to the

evaluation policy for members of the Board of REPORT

Company.

Commissioners regarding the composition of

the nomination process, and performance

2016 ANNUAL

as long-term goals and strategies of the

Related to Nomination Policy 1. Provide recommendations to the Board of


2. Ensure that the remuneration policy has

the Board of Directors and the Board of

b. Policy on Remuneration for the Board of Profil Perusahaan

c. Amount of Remuneration for the Board of

Directors and/or Commissioners. 2. Provide recommendations to the Board of Commissioners regarding the capacity building

General Meeting of Shareholders. 4. Provide recommendations regarding the replacement candidate for Committee of the Board of Commissioners and Secretary of the Board of Commissioners.

program of the Directors and/or Commissioners.

Profile of the Member of Nomination and Remuneration Committee Educational background, history of positions and work experience of BRI Agro Nomination and Remuneration Committee members can be found on the Company Profile section of this Annual Report.

194

Meeting of Nomination and Remuneration Committee During 2016 the Company’s Remuneration and Nomination Committee held five meetings with attendance as follows: Total meetings

Total Attendance

%

Bambang Soepono

5

5

100

Roswita Nila Kurnia

5

5

100

Karmanita

5

5

100

NamE

Brief Report of the Implementation of the Nomination and Remuneration Committee in 2016 During 2016, the Nomination and Remuneration

3. Recommendation regarding the review of

Committee have been implemented discussion

remuneration Committee of the Board of

and provide recommendations regarding the

Commissioners and Secretary of the Board of

following matters:

Commissioners


1. Completion of health facilities for the Board of Directors and Commissioners, and

Here are details of the activities of the

remuneration adjustments.

Nomination and Remuneration Committee:

2. Recommended replacement for the


Management of the Company Output

January 13, 2016

Meeting regarding the health facilities for the Board of Directors and Commissioners as well as the adjustment of remuneration

Recommendations on improvement of health facilities for the Board of Directors and Commissioners

January 18, 2016

Meeting regarding regeneration and alternate members of the Board of Directors

Recommendations on regeneration and alternate members of the Board of Directors

April 19, 2016

Meeting regarding the prospective Directors and Commissioners

Recommended on candidates for Directors and Commissioners

May 2, 2016

Meeting regarding tantiem

Recommendations on Management’s Tantiem

June 22, 2016

Meeting regarding the remuneration of Board of Commissioners’ Committee

Recommendation on the remuneration adjustment for the Board of Commissioners’ Committee

Attendance CORPORATE GOVERNANCE

• Bambang Soepeno • Roswita Nila Kurnia • A. Karmanita


2016

Activity

ANNUAL REPORT

Date

195

Risk Monitoring Committee Risk Monitoring Committee consists of 3 (three) people and chaired by an Independent Commissioner and two other members are independent parties from outside of the Company.

Composition of the Risk Monitoring Committee In accordance with Board of Commissioners Decree No. Kpts.R.20/Dir.01.04/HRM/03/2015 dated March 17, 2015 on “Changes in the Member Composition of the Risk Monitoring Committee” stated that the composition is as follows:

Kilas Kinerja 2016

Laporan Manajemen

NamE

Position

Term of Office

Achmad Fachmi

Chairman, concurrently as Member

Commissioner/ Independent Commissioner

March 1 - December 31, 2016

Retno Surdini

Member

Independent Party


Sihar Moreno Hurabarat

Member

Independent Party


Independence of the Member of The Risk Monitoring Committee The independence of the members of the Risk

from an independent party are Retno Surdini and

Monitoring Committee indicated through the

Sihat Moreno Hurabarat which are intended to

background members that come from external/

support the Company’s governance performance

outside the Company’s management. Risk

is more mature and in accordance with the

Monitoring Committee members who are derived

principles of good management.

Profil Perusahaan

Profile of the Member of Risk Monitoring Committee

REPORT

2016 ANNUAL


196

Educational background, history of positions and work experience of BRI Agro Risk Monitoring Committee members can be found on the Company Profile section of this Annual Report.

Meeting of Risk Monitoring Committee During 2016, the Risk Monitoring Committee has conducted three meetings with attendance as follows: Total Meetings

Total Attendance

%

Achmad Fachmi

3

3

100%

Retno Surdini

3

3

100%

Sihar Moreno Hurabarat

3

3

100%

NamE

The agenda of the meeting were discussed throughout 2016 are as follows: Date

Agenda

January 11, 2016

Discussion of the Company’s Performance in January 2016

October 26, 2016

Discussion on Risk Management

November 2, 2016

Discussion on Risk Management

Besides attending the committee meeting, the

Decision-making in the committee meeting had

committee members were also present at the

been done by consensus or by majority vote

Joint Meetings of the Board of Commissioners

if there is no agreement, and have been well

and Directors each month, perform other tasks

documented (including if there are differences of

include coordinating with related work units to

opinion/dissenting opinion).

obtain relevant data and information.



Risk Monitoring Committee meetings carried out according to the Company needs and implemented only if attended by at least 51% of


the members and of which the Chairman of the Risk Monitoring Committee.


2016

ANNUAL REPORT

197

Brief Report of the Implementation of Risk Monitoring Committee in 2016 The implementation of the Risk Monitoring Committee in 2016 is as follows: 1. Monitor the Implementation of Risk Management a. Evaluate the work plan of Risk Management Unit (SKMR) b. Conduct quarterly risk profile review made by SKMR c. Evaluate the updating of Risk Management Policy 2. Monitor Mitigation/Follow-up on Risks a. Evaluate the mitigation undertaken by SKMR on the risks faced by the Company, mainly related to credit risk and operational risk b. Conduct monitoring of the Risk Management Culture Development including risk awareness, one of which is to conduct Assessment of the Implementation of Risk Management in BRI Agro 3. Reporting a. Submit a report on the activities of Risk Monitoring Committee to the Board of Commissioners b. Prepare evaluation report for the Board of Commissioners on the implementation of the compliance function of each semester Kilas Kinerja 2016

Laporan Manajemen

Date

Letter Number

Concern

February 29, 2016

02/KPR-2/2016

Evaluation Report on the Implementation of Compliance Function in Second Semester of 2015

November 7, 2016

07/KPR-X/2016

Evaluation Report on the Implementation of Risk Management and Compliance in Third Quarter of 2016

c. Including reports to be presented in the Company’s Annual Report Profil Perusahaan

4. Visit to the Branch Offices Based on the Letter of Assignment from the Board of Commissioners make a visit to the branch, mentoring and submit a report to the Board of Commissioners as the function of supervision and coaching. The visit to the Branch Offices conducted by the Risk Monitoring Committee reported to


the Board of Commissioners on May 23, 2016. 5. Conduct other tasks a. Follow the Board of Commissioners meeting with the Board of Directors on a periodic basis

REPORT

2016 ANNUAL

(monthly) to discuss the Company’s performance

198

b. Follow the Board of Commissioners meetings with the work units to discuss the scope of tasks and problems faced by the unit.

Committees Under the Board of Directors

RIsk Management Committee Composition of the Risk Management Committee 1. Chairman: President Director 2. Secretary: Head of Compliance, Risk Management & Legal Division

• Head of Operations Division, Head of Headquarter Operational Division, Head of HRM Division and Head of IT,

3. Membership of Risk Management Committee

to discuss the issue of Operational Risk

a. Permanent Members: the Company’s

Management, Reputation Risk, Strategic

Board of Directors; Head of Commercial Business Division; Head of Retail Business

Risk and Compliance Risks. • Head of Treasury, Head of Operations

Division; Head of Partnership Business

Division, Head of Headquarter

Division; Head of Internal Audit Unit;

Operational Division, to discuss on the

Head of Compliance, Risk Management &

issue of Market Risk Management and

Legal Division.

Liquidity Risk.

b. Non-permanent Members: • Head of Credit Risk Management Division and Head of Operations

• Head of Corporate Secretary Division to discuss the issue of Reputation Risk Management and Strategic Risk.

Division to discuss the issue of Credit Risk Management, Liquidity Risk, Market Risk, Operational Risk, Legal Risk, Reputation Risk, Strategic Risk and


Compliance Risks.

Composition of the Risk Management Committee on September 2016 Until Present 1. Chairman

: Compliance Director

2. Vice Chairman

: Finance and Operations Director

3. Secretary

: Head of KMRH Division



4. Membership of Risk Management Committee a. Permanent Members • Financing and PRK Director • Business Director • Head of Internal Audit Unit


• Head of the Agro Business Division • Head of General Business Division

b. Non-permanent Members • Head of HRM Division

2016

• Head of Funds & Services Division

ANNUAL REPORT

• Head of Retail and Consumer Business Division

• Head of Credit Risk Management • Head of Treasury Desk • Head of Change Management Desk • Head of Corporate Secretary Division • Head of Operations Division • Head of Information Technology Division

199

DuTies, Authorities and Responsibilities of the Member 1. Provide recommendations to the President Director in preparing the Risk Management

follows:

Policy and amendments if needed and to

a. Developments in the portfolio

propose to the Board of Commissioners and Directors for approval.

composition of the Company’s risk profile b. Implementation of the determination and

2. Provide recommendations to the President Director in preparing the Risk Management

implementation of limit c. The Company’s capital adequacy to

Strategy including the establishment

risk exposure in accordance with the

of limits and develop guidelines for the

provisions of the applicable regulation of

implementation of risk management related contingency plan if the external conditions are not normal.

Bank Indonesia d. The effectiveness of the implementation of Risk Management System

3. Repair or improve the implementation of the

Kilas Kinerja 2016

4. Monitor, evaluate and assess matters as

5. Review the proposals regarding new

Risk Management, conducted periodically or

activities/products in terms of risk and assess

incidental as a result of changes in external

changes in the system and work procedures,

and internal conditions that will affect the

and then recommend to the Board of

Company’s capital adequacy and risk profile

Directors for approval.

of the Company and based on the evaluation

6. Determination of matters related to

of the effectiveness of the implementation of

business decisions that deviate from normal

the Risk Management.

procedures (irregularities), among other significant business expansion compared

Laporan Manajemen

to the Company’s business plan and taking position/exposure risk deviating from the specified limits.

Profil Perusahaan

Meeting of Risk Management Committee in 2016 Informasi bagi Investor

The Committee has held four meetings throughout 2016, with the subject as follows:

REPORT

2016 ANNUAL

Time

200

% Attendance

Agenda

Quarter I

100%

Discussion on the Company Risk Profile in Quarter I

Quarter II

88%

Discussion on the Company Risk Profile in Quarter II and Soundness of the Company

Quarter III

100%

Discussion on the Company Risk Profile in Quarter III

Quarter IV

94%

Discussion on the Company Risk Profile in Quarter IV and Soundness of the Company

ASSET AND LIABILITIES COMMITTEE (ALCO) Composition of Asset and Liabilities Committee (ALCO) 1. Chairman: President Director (concurrently as member) 2. Chairman Substitute I: Finance and Operations Director (concurrently as member) 3. Chairman Substitute II : Business Director (concurrently as member) 4. Secretary: Head of Treasury (concurrently as member) 5. Members: Corporate Secretary, Head of Agro Business Division, Head of General Business Division, Head of Operations Division, Head of Retail and Partnership Business Division, Head of Funds and Services Division, Head of Compliance, Risk Management & Legal Division, Head of Accounting and Reporting..

Duties and Responsibilities 1. Monitor (last) Performance of National Banking sourced from data published by Bank Indonesia which is based on the following criteria: assets, public funds (demand deposits, savings deposits, time deposits), loans, profit/loss and key financial indicators such as ROA, ROE, NPL, LDR, CAR, NIM, PDN. 2. Identify the development of banking

3. Establish policies on the Company’s asset and liabilities management in an integrated manner. 4. Establish basic interest rate deposits, loans and fund transfer price. 5. Ensure the Company’s asset and liability management has been implemented in


accordance with the ALCO meeting policy.

products, liquidity, and loan interest rates and interest rate funds.


Working Implementation of ALCO in 2016 ALCO held 11 meetings throughout 2016, with the subject as follows: No.

Date

2

February 25

3

March 24

4

April 15

5

May 26

6

June 27

7

July 28

8

August 30

9

October 1

10

October 11

11

November 24


1. Determination of the interest rate provisions of Deposits, Loans and Fund Transfer Price 2. Asset management business units (branches and sub-branches)

2016

January 28

Agenda

ANNUAL REPORT

1


201

INFORMATION TECHNOLOGY STEERING COMMITTEE Composition of the Information Technology Steering COmmittee In accordance with Decree No. Kpts 19/Dir.01.05/TSI/III/2013 dated March 28, 2013, regarding the Third Revision of Information Systems Technology Steering Committee, the composition is as follows: 1. Chairman I Finance and Operations Director

b. Head of Retail Business Division

2. Chairman II Compliance Director

c. Head of Commercial Business Division

3. Secretary Head of IT (concurring as

d. Head of Partnership Business Division

member)

e. Head of Compliance, Risk Management &

4. Members

Legal Division.

a. Head of Headquarters Operations Division

Duties and Responsibilities Information Technology Steering Committee provide recommendations to the Board of Directors related to the Company’s strategic plan for information technology, and information technology policy, and consistency of the implementation of the information technology development with the strategic plan and carry out other tasks that have been defined as represented in PBI No. 9/15/PBI/2007 dated Kilas Kinerja 2016

November 30, 2007 regarding Risk Management in the Use of Information Technology for Commercial Banks and BI Circular Letter No. 9/30/DPNP dated December 12, 2007 regarding the application of Risk Management of Information Technology by Commercial Banks.

Laporan Manajemen

The duties and responsibilities as follows: 1. Each member of the Committee shall

user computing that may potentially cause

maintain its independence and subject as

overlapping (double effort).

well as adhere to all provisions of relevant Profil Perusahaan

5. Supervise and direct all activities related

legislation.

to the sub-committee include if there is a

2. Provide recommendations to the Board of

project steering committee of Information

Directors.

Technology.

3. Supervise the implementation of the Post Informasi bagi Investor

6. Ensure that the Information Technology

Implementation Reviews to assess whether

Strategic Plan always updated and ensure

the benefits of each project of Information

that any changes in the Information

Technology has been reached.

Technology Strategic Plan has been approved

4. Monitor and control the development of

by the Board of Directors before being

REPORT

2016 ANNUAL

Information Technology owned by the =end

implemented.

Meeting of Information Technology Steering Committee in 2016 During 2016, the Information Technology Steering Committee has held two meetings, which consist of meetings with the Product Owner. Date

202

% Attendance

Agenda

November 23, 2015

100

ITSP 2012-2015 Review and ITSP 2016-2019 Plan

December 28, 2015

100

ITSP 2012-2015 Realization and ITSP 2016-2019 Plan

Credit Committee Credit Committee has duty and responsibility to evaluate and/or to terminate the loan application to the number and/or certain types of loans in accordance with its authority.

Composition of Credit Committee Credit Committee I 1. President Director 2. Business Director 3. Financing and Credit Risk Management Director Credit Committee II 1. Business Director 2. Financing and Credit Risk Management Director Credit Committee III 1. Head of Credit Risk Management Division 2. Head/Deputy Head of Consumer and Retail Division Business Supporting Unit

boundaries and Authorities Credit Committee I Decide proposed loan principal is more than Rp15 billion up to BMPK. Credit Decisions must be made


by all members who are in Credit Committee I unanimously. The decision of the Credit Committee I meeting reported in writing to the Board of Commissioners in the oversight function. CORPORATE

Credit Committee II

GOVERNANCE

Decide proposed loan principal more than Rp5 billion to Rp15 billion. Credit Decisions must be made by all members who are in Credit Committee II unanimously. Credit Committee III Decide proposed loan principal above decision of the Branch Office up to Rp5 billion. Credit Decisions


must be made by all members who are in Credit Committee III unanimously.

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203

Corporate Secretary The Company’s Corporate Secretariat chaired by the Corporate Secretary, as one of the communication function of the Company as stipulated in the Regulation of Financial Services Authority No. 35/ POJK.04/2014 on Corporate Secretary of Public Company. The task implementation of Corporate Secretary are: 1. Provide information needed by the Board

through public relations function, investor

periodically and/or at any time when

relations function, and company secretarial

requested.

functions, include the Bureau of the Board of

2. Ensure the Company adhere to the rules of capital market regulation. 3. Ensure that the Company comply with the regulations on disclosure requirements in line with the implementation of corporate governance principles. 4. As a liaison officer with the capital market authority. 5. Administer and store documents of Kilas Kinerja 2016

6. Building the Company’s corporate image

of Directors and Board of Commissioners

Directors and the Board of Commissioners as well as manage the information relationship/ service to the stakeholders to support the achievement of the Company’s performance based on its vision, mission and strategy , 7. Secretariat of the Company is responsible for ensuring smooth communication between the Company and stakeholders, and ensure the availability of information that is accessible

the Company, such as the Register of

to stakeholders in accordance with the

Shareholders, Special List and minutes of

reasonable needs.

meetings of the Board of Directors, board meetings and the GMS. Laporan Manajemen

Profile of Corporate secretary Profil Perusahaan

Indonesian citizen, Bachelor of Science from the

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2016 ANNUAL


University of Indonesia. Born in Jakarta in 1963. Start his banking career as a Officer Development Program of the Company in 1989. After occupying several positions such as Electronic Data Processing Officer, Money

HIRAWAN NUR KUSTONO Corporate Secretary

204

Market Dealers to Head of Treasury. Since 2004, he appointed as the Corporate Secretary of the Company.

Competence Enhancement of Corporate Secretary During 2016, the Corporate Secretary have training, certification, workshops and conferences as follows: Activity

organizer

Place

Date

Disclosure of Public Company Information

FSA (Financial Services Authority)

Borobudur Hotel

November 15, 2016

Disclosure list Throughout 2016 The following list of disclosures throughout the year 2016: Submission Date

1

Financial Statements Publications Quarter IV 2015

Investor Daily

Februari 26, 2016

2

Annual Financial Statements per December 31, 2015

• Bapepan-LK (FSA) • IDX

Februari 26, 2016

2015 Annual Report

• Bapepam – LK (FSA) • YLKI • Pefindo • Perbanas • IBI • INDEF • LPEM-FEUI • BeritaSatu • Bisnis Indonesia • Camel • Infobank

• Februari 26, 2016 • Februari 26, 2016 • April 26, 2016 • April 26, 2016 • April 26, 2016 • April 26, 2016 • April 26, 2016 • April 26, 2016 • April 26, 2016 • April 26, 2016 • April 26, 2016

4

Financial Statements Publication of Quarter I 2016

Investor Daily

April 29, 2016

5

Financial Statements Interim per March 31, 2016


April 29, 2016

6

Financial Statements Publication of Quarter II 2016

Investor Daily

August 15, 2016

7

Financial Statements Interim per June 31, 2016


August 15, 2016

8

Financial Statements Publication of Quarter III 2016

Bisnis Indonesia

October 27, 2016

9

Financial Statements Interim per September 31, 2016


October 27, 2016

3





2016

Media/ Institutions

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Type of Report

No.

205

2016 Work Plan Implementation of tasks throughout the year 2016 is realized through the following activities:

Corporate Communications Corporate Communications sustainable development is implemented through internal and external communication activities, such as through the publication of a corporation in order to enhance the reputation and maintaining the Company’s image (corporate image) so that it can be maintained good relations with the stakeholders. 2016 is planned to be carried out several programs of Corporate Communications, among others:

Kilas Kinerja 2016

Programs

Descrptions

Internal Communication Program

1. Organize internal meetings/periodic activities such as: Meeting of the Board of Directors, Joint Meeting of the Board of Directors and Commissioners, Division and Section meetings with the Board of Commissioners, morning prayer together in conjunction with exposure to the performance of the Company by the Board of Directors, Communications Forum, Meetings of Committee organs of the Board of Commissioners, Update data/news on the Company’s website. 2. The meetings/activities necessarily form: Right Issue; Public Expose; and other corporate actions.

External Communication Program

1. Communication information periodically, regularly delivering information to the authorities and/or stakeholders. Such as GMS Results, Public Expose results. 2. Communication information immediately. Is information about the event or events that must be submitted to the authorities, in accordance with prevailing regulations. Such as, results of the EGMS, the use of funds of the Right Issue.

Submission of Material Information

Covers important information or facts and relevant about the event or occurrence which can influence the price of securities and or the decisions of investors, prospective investors or other interested parties on such information. For example, resolution shares or shares dividend distribution, new product or invention, change in control or a significant change in management.

Activities within the framework of CSR

1. Distribution of donations related to religious holidays such as Ramadan and Eid al-Adha. 2. Distribution of disaster relief donations. 3. Distribution of other aid donations. 4. Implementation of Banking Financial Literacy educational programs. The Company plans to implement financial literacy education program through the dissemination of information delivery of financial literacy to the public.

Laporan Manajemen

Profil Perusahaan

REPORT

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206

External Communication Program Development of marketing communications activities carried out as two steps, namely Above The Line (ATL) and Below The Line (BTL). That applies for the development of corporate identity and marketing processes of BRI Agro banking products. Development of corporate identity (including amendments) as an application of the Corporate Identity Mannual (CIM) is necessary as a driving force of marketing products and services. Specifically, the measures will be implemented as follows: Programs

Descriptions

Above the Line Strategy

1. Corporate advertising/news and product advertising in local print media, nationwide print media, community print media, radio and television. 2. Re-branding BRI Agro website and optimize it as a marketing channel. 3. Conducting development and optimization of BRI Agro official social media accounts, aims to promote BRI Agro in online media at a relatively cheaper as compared to the print media. Accounts that will be formed are a facebook account and twitter account. 4. The launching of new products.

Below the Line Strategy

1. Marketing event adjusted to Branch Office marketing strategies with the aim to improve KYD and DPK with the calculation of costs and benefits that have been adapted to the related Branch Offices policy. 2. Participate in the event organized by Holding Company (Bank BRI) as one form of realization of synergies in order to improve corporate image. 3. Participate in sponsorship and exhibition/seminar. 4. Develop a marketing tool for credit products. 5. Marketing tool for product development funding. 6. Create product merchandising and marketing tools.





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Compliance Functions Implementation of Compliance Function

2. Internal Policy Review

based on PBI No. 13/2/PBI/2011 on the

Ensuring that the policy defined by the Board

Implementation of Commercial Bank Compliance

of Directors and the Company’s internal

Function as an ex-ante (preventive) measures

applies comply with the precautionary

to ensure that policies, regulations, systems

principle, does not stray from external

and procedures, as well as business activities

regulations. In 2016 carried out a review and

conducted by the Company is accordance with

revision of the Policies and Procedures of

Bank Indonesia and legislation in force, as well as ensuring compliance of the Company against

Credit Affairs and Operations Division. 3. Resume and External Policy Delivery to

the commitments made by the Company to Bank

Related Work Unit

Indonesia and/or other authorized supervisory

Resume and external policy delivery

authority.

conducted on new policy or change policy set by an external regulator. This activity is

Compliance functions carried out by the

implemented as a function of the external

Compliance Director and the Compliance, Risk

Compliance with the regulations referenced

Management, and Legal Division.

by the Company and/or related work units in carrying out its duties and responsibilities.

Compliance function to align with business Kilas Kinerja 2016

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208

4. Monitoring of the commitments of the

functions, then compiled strategies in three

Company

pillars, namely:

Ensure the Company’s compliance to the

1. Implementation of Precautionary Principle

fulfillment of commitments to the regulator/

2. Implementation of Good Corporate

external authorities. The results of the

Governance (GCG) 3. Implementation of Anti-Money Laundering

monitoring of the fulfillment of commitments are reported in the report of the task of

(AML) and Combating the Financing of

compliance to the Board of Directors, the

Terrorism (PPT).

Board of Commissioners and Bank Indonesia on a regular basis.

The implemented strategy in order to develop the

5. The monitoring of compliance with prudential

compliance field is translated the pillars above,

requirements (BMPK, CAR, PDN, LDR, NPL,

among others:

etc.). Company’s continuous and periodic

1. Implementation of Precautionary Principle.

monitoring of prudential banking principles

The principle test of prudence in credit,

(BMPK, CAR, PDN, LDR, NPL, etc.). During

operational field and the field of credit

2016, the Company has never violated

decisions. The test is carried out by issuing a

or exceeded the BMPK, CAR, PDN, LDR,

Compliance Test against the final draft policy

NPL, etc. monitored and comply with Bank

plans and/or decisions of the respective fields and have been determined by the Board of

Indonesia or the Financial Services Authority. 6. Human Resources Development in support

Directors. The test results for 2016 on the

of the implementation of the Compliance

policy plan and/or the decision of each field in

function

compliance with the precautionary principle

The Company realizes that human resources

which refers to external regulations and

are placed on this function must master

internal rules and regulations.

regulatory provisions and legislation and

regulations, and have a strong commitment

which one coverage assessment is an

to implement and develop the Compliance

assessment aspects of Company GCG and

Culture. Related to the above, the Company

regularly submits the quarterly report

continues to provide an opportunity for HR

to the holding company PT Bank Rakyat

in compliance unit to participate in training,

Indonesia (Persero) Tbk.

seminars, compliance education organized

8. Implementation of Anti-Money Laundering

by Forum Communications Director of

(AML) and Combating the Financing of

Compliance (FKDKP) and the activities of

Terrorism (PPT)

other external parties.

As implemented during 2016, among others:

7. Implementation of Good Corporate

a. On a continuous basis the dissemination

Governance.

policies and procedures for APU and PPT,

Related to Compliance Division functions

among others:

as the coordinator of the implementation

• Know Your Customer Work Unit

of GCG in the Company, during 2016 the

(UKPN) develop APU and PPT program

Compliance Division has carried out its duties

in the form of compact discs as a

and responsibilities, among others:

material to be introduced to all of the

a. GCG implementation obligations in

Company offices.

accordance with Regulation No. 8/4/

• Give APU-PPT material to every new

PBI/2006 and PBI No. 8/14/PBI/2006

workers in the execution of their duties

on Amendments to Regulation No. 8/4/

related to the introduction of the

PBI/2006 on Implementation of Good

principle of customers among other

Corporate Governance for Commercial

things: front liners (CS and teller), AO

Banks and SEBI No. 9/12/DPNP on

(Account Officer), FO (Funding Officer).

Self Assessment Implementation of Good Corporate Governance and Bank Indonesia Circular Letter No. 15/15/ DPNP dated April 29, 2013 regarding

• Socialization of APU and PPT training Program (ODP) participants. b. Submission of Action Plan on the Implementation of APU and PPT to Bank

Governance for Banks with the enactment

Indonesia and further coordination with

of Circular No. 15/15/DPNP dated April

other related work units to meet the

29, 2013, Bank Indonesia Circular Letter

intended targets and Action Plan.

and the annex III.4. Good Corporate Governance (GCG) Rating in Bank

c. PPATK reporting obligations in the form


of CTR and STR according to applicable regulations. namely Bank Indonesia, the FSA, PPATK,

the Ratings for Commercial Banks is

KPK RI.

2016

d. Following a request from external parties,

DPNP date October 25, 2011 concerning revoked and declared no longer valid.


ANNUAL REPORT

Indonesia Circular Letter No. 13/24/


program to Officer Development

Implementation of Good Corporate

No. /12/DPNP dated January 30, 2007


b. The Company performing its functions in order to meet PBI No. 13/1/PBI/2011 dated January 5, 2011 on Commercial Bank Soundness Assessment (TKB)

209

INTERNAL AUDIT UNIT Internal Audit Unit (SKAI) as one element of the

Institutionally, SKAI independent of the

Company’s internal control system, has an active

operational unit and is directly responsible to the

oversight role and importance in achieving the

President Director. SKAI has direct access to the

vision and mission of the Company. The Board

President Director and to the Audit Committee

of Directors has ensured the implementation

in order to coordinate and inform the matters

of the internal audit function within each level

relating to the implementation of the activities

of management and activities of the Company

and results of the audit.

as set forth in the Internal Audit Charter of the structure and the position of Internal Audit Unit.


President Director Kilas Kinerja 2016

Audit Committee Laporan Manajemen

Head of Internal Audit Unit Deputy Head of Internal Audit Unit

Profil Perusahaan

Auditor Group I

Auditor Group II

Auditor Group I (Credit, Operational & IT)

Auditor Group II (Credit, Operational & IT)

RA KANCA

RA KANCA

RA KANCA

RA KANCA

RA KANCA

RA KANCA

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210

SKAI conducting assurance activity, independent and objective consulting, designed to add value and improve the operations of the Company as well as helping the organization to achieve goals through a systematic and orderly approach to evaluate and improve the effectiveness of risk management, internal control and corporate governance processes.


Compliance Director Management Discussion and Analysis


Auditor Group III

Auditor Group III (Credit, Operational & IT)

Audit Support Functions

2016

Quality Standards and Reports Group Auditor


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RA KANCA

Quality Standards and Reports Group

RA KANCA

RA KANCA

211

SkAI Scope of Audit The scope of the audit by the Internal Audit Unit (SKAI), namely: 1. Head Office Audit Conducting audits and consultancy to the work units at the Head Office to ensure the adequacy and effectiveness of internal control, risk management and corporate governance. 2. Branch Office Audit Conducting audits and consultancy to branch offices including sub-branch offices to ensure the adequacy and effectiveness of internal control, risk management and corporate governance.

SKAI Vision and Mission Vision of Internal Audit Unit (SKAI) is to become a powerful and reliable Strategic Business Partner to provide added value to the Company in order to achieve the Company’s vision. To realize this vision, the mission of Internal Audit is to carry out risk based audit independently and professionally in order to provide optimal benefits to stakeholders, improving the competence to be Kilas Kinerja 2016

Laporan Manajemen

Profil Perusahaan


professional Internal Auditors and provide audit results which can provide added value to the Company by making optimal use of information systems technology.

Internal Audit Charter Internal Audit Charter of the Company

With the stiputation of the Internal Audit Charter

determined by the Board of Directors’ Decree

policy mentioned above, also as an Intenal Audit

No. Kpts. B.38/DIR.01.02/SKAI/01/2016 dated

Unit role in preventing conflicts of interest.

January 29, 2016 regarding Revision of Internal

Internal Audit Charter contains a special rule

Audit Charter. Internal Audit Charter was

which is that Internal Auditors must maintain

created to provide an overview and guidance

independence and objective in conducting the

on the vision, mission, organizational position,

audit. Internal Auditor should not be handed over

duties, authorities and responsibilities of the

to another party opinion, should be objective

Internal Audit Unit within the organization.

and honest in carrying out its work, so that the

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quality of their work free from the element of

212

compromise.

Scope of Internal Audit The scope of Internal Audit work includes audit and evaluation of the effectiveness of the risk management process, the adequacy and effectiveness of internal control systems and the effectiveness of corporate governance is the responsibility of Line of Management: 1. Risk Management Process Internal Audit will assist the organization by identifying and evaluating significant risks and contributes to the enhancement of corporate risk management. 2. Internal Control Internal Audit will assist the organization in maintaining effective internal control by conducting an assessment of: a. Assessment of Internal Control Structure Adequacy It is intended to determine how far the system established a reliable ability to provide confidence that the Company’s goals and objectives can be achieved economically and efficiently. b. Assessment of Internal Control Structure Effectiveness It is intended to determine the extent to which these structures are functioning properly. Business Supporting Unit




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Internal Audit Unit Work Ethics 1. Internal Auditors must show honesty, objectivity and seriousness in implementing

that can be solved by using its professional

the tasks and fulfill the responsibilities of his/

competence.

her profession. 2. Internal Auditors must show loyalty towards the organization or the party being served. However, Internal Auditors must not

in the execution of their duties. Internal information:

profession of internal auditing or discredit the

a. To obtain personal benefit

organization.

b. By breaking the law, or

REPORT

c. which can cause harm to the organization 9. In reporting the results of its work, the

of the organization or activities that could

Internal Auditor must disclose all important

prejudice, who doubt his/her ability to be able

known facts, the facts are otherwise disclosed

to perform their duties and fulfill professional

can:

responsibilities objectively.

a. Distorting reports on the activities

any form of worker, client, customer, supplier

reviewed, or b. Covering the practices that violate the law

or business partner organization that can or

10. Internal auditors must constantly improve the

should be able to influence the professional

competence and the effectiveness and quality

judgment.

of execution of their duties and must attend professional education.

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2016 ANNUAL

Auditors must not use confidential

in any act or activity which could discredit the

5. Internal Auditor should not accept anything in

214

Standards Internal Audit. 8. Internal auditors should be careful and prudent in using the information obtained

activities that may conflict with the interests


order to continuously meet the Professional

unlawful.

4. Internal auditors should refrain from

Laporan Manajemen

7. Internal Auditors must make efforts in

knowingly engage in activities that deviate or 3. Internal Auditors must not knowingly engage

Kilas Kinerja 2016

6. Internal Auditors only perform services

Audit Method Since 2012, the Company began applying the

potential risks can be minimized in accordance

methodology Risk Based Internal Audit (RBIA)

with the the established risk tolerance. To

with business process approach. Where RBIA be

support the implementation of RBIA, in 2013 has

implemented gradually in accordance with the

approved the relevant provisions of the Internal

maturity level of corporate risk management.

Audit Guidelines and Resident Auditor Audit

With such methodology, the business processes

Guidelines. In 2016, the Internal Audit Unit has

and business units that are expected to have a

revised the audit methodology in the Guidelines

significant risk in the achievement of business

for Internal Audit and Resident Auditor Internal

objectives, are prioritized to be audited, so all

Audit Guidelines.

Internal Audit Unit HR Competence Number of employees of the Internal Audit Unit of BRI Agro are 21 employees were on duty at the Head Office and Branch Office of BRI Agro, which consists of a Head of Internal Audit Unit, a Deputy Head of the Internal Audit Unit, three Investigation Team Leader, 11 Auditors and 5 Resident Auditors.

NAME

Position

Certification

PERIOD

Agus Suprapto

Head of Internal Audit Unit

BSMR level 3

2013 - present

Dody Julianto

Deputy Head of Internal Audit Unit

BSMR level 3

2016 - present

Lestari Chairani

Auditor Team Leader

BSMR level 2

2015 - present

Dian Mulyawati

Auditor Team Leader

-

2016 - present

Afdal Priandi

Auditor Team Leader

BSMR level 2

2015 - present

Harnedy Haroen

Head of Quality Standards and Reports Group

BSMR level 2

2016 - present

Chandra Qamandanu

Auditor

BSMR level 2

2015 - present

Yudi Iskandar

Auditor

BSMR level 1

2013 - present

Eza Mega Koeswoyo

Auditor

BSMR level 1

2013 - present

Damar Mungaran

Auditor

BSMR level 1

2015 - present

Dewi Retno Yuningsih

QA Staff

-

2010 - present

Fanny Dhamayanti

Auditor

-

2008 - present

Moh. Panji

Auditor

-

2016 - present

M. Afan Ghafar

Auditor

-

2016 - present


Arif Rizky S

Auditor

-

2016 - present

Inawaty Diel

Auditor

BSMR level 1

2016 - present

Hanjani

Resident Auditor

BSMR level 1

2014 - present

Maha Putra

Resident Auditor

-

2016 - present

Noor Wikas

Resident Auditor

BSMR level 1

2014 - present

Andi Octo Nuredi

Resident Auditor

BSMR level 1

2014 - present

Rhendy Tribowo W.

Resident Auditor

-

2014 - present

Management Certification Agency (BSMR).


2016

audit. The Company also engages Risk Management Certification program issued by the Risk


ANNUAL REPORT

Certification owned by members of the Internal Audit Unit to support the performance of internal


215

To improve the quality of the SKAI team,

conducted through the organization of in-house

improvements related to the field of Human

training/public course during 2016, and SKAI has

Resources and Audit Methodology are

included some auditors to follow the training as

implemented. In the field of human resources,

follows:

knowledge improvement program has been

Kilas Kinerja 2016

Training/Seminar

Date

participants

Refreshment Auditor Training

April 4-7, 2016

All Auditors

CAE Forum

May 31, 2016

2 (two) auditors

Training of Risk Management Certification Agency (BSMR) level 1

June 9-10, 2016

2 (two) auditors

Refreshment Auditor Workshop Training in Anticipating the Counterfeit Documents, Signatures and Fraud Mafia

June 14-15, 2016

2 (two) auditors

Workshop of Audit Methodology Alignment & Introduction to Audit Tools, organizer Bank BRI (Persero)

August 22-26, 2016

5 (five) auditors

Lateral Joiner, organizer Bank BRI (Persero)

November 8-10, 2016

3 (three) auditors

Trade Finance Workshop

November 21-22, 2016

2 (two) auditors

Audit Planning and Realization in 2016 Laporan Manajemen

Profil Perusahaan


Annual Audit Plan (PAT) in 2016 arranged in

As of the end of 2016, the Internal Audit Unit

systematic and consistent with the objectives and

has been conducting regular audits as many as

strategic plans of the Company, the results of risk

48 objects audit. Besides the regular audit, SKAI

assessments of corporate, regulatory provisions,

also perform a special audit and management as

the direction of the management and the Audit

needed, or if there is a strong indication of the

Committee, Risk Profile and the results of the

need for an audit. In 2016 this has been carried

previous audit period.

out in 2 (two) activities.

In accordance Annual Audit Planning (PAT) in 2016, there are 47 objects audit includes

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2016 ANNUAL

Division, Branch Offices and Cash Office.

Follow-up of Internal Audit Findings SKAI also perform the function of continuous

In accordance with Internal Audit Charter in

monitoring, not limited to the follow-up of

2013 and Revised Audit Charter 2015 there

SKAI audit results only, but also from Financial

has been few changes in follow-up findings data

Services Authority (FSA) audit and the audit

management that the application of adequate/

results conducted by other Public Accountant

not adequately status on follow up on the

Firm.

findings. At the end of 2016, it was noted that 479 findings/risk issues from a total of 238 findings have been followed up, while 241 findings are still be monitored.

216

Determination of Audit team, Auditor TEAM Trustees And the Audit Rating In order to realize the function of Internal

SKAI set Audit Rating in each working unit in

Audit fuction to conduct an assessment of

the audit as one of the factors in meeting the

the adequacy and internal control systems

needs assessment unit corporate work, based

effectiveness, risk management practices and

on the number and magnitude of the problem is

Good Corporate Governance (GCG) processes,

reflected in the findings of the audit (Category

SKAI annually assign 2 (two) audit teams to carry

findings Major, Moderate and Minor) and ranged

out the assessment, evaluate and analyze the

from rating I to V. Rating I is a rating of the best

audit object he/she responsible for. In addition, it

while V is the worst.

also stipulated that the Auditor Trustees obliged to prepare Risk Assessment, appraisal, evaluation

In 2016, the Internal Audit Unit has revised the

of off-site work units built including monitoring

Rating Audit. With the revision of the Rating

the Team.

Audit is expected to refine the assessment/ measurement of the level of internal control so

In 2016 has been designated the audit team and

it is more appropriate to the conditions in the

auditor trustees to carry out audits on 47 objects

field and assist management in monitoring or

audit.

improvements.



Profile of the Head of Internal Audit Unit CORPORATE GOVERNANCE

Indonesian citizen, graduated as Bachelor of Economics from the Universitas Jend. Sudirman, Purwokerto. He began his banking career as a Staff I Management Information Affairs at Head Office of PT Bank Rakyat Indonesia (Persero) Tbk in 1987. After that, he was


occupied several important positions such as Branch Manager, Senior Auditor Inspection Office Jakarta 1 to

2016

Appointed as Head of Internal Audit of BRI Agro

ANNUAL REPORT

Deputy Inspector at Inspection Office, Surabaya in 2012.

accordance with the decision of the Board of Directors

AGUS SUPRAPTO Head of Internal Audit Unit

No. Kpts. 09A/Dir.01.02/HRM/V/2013 dated May 29, 2013.

217

INTERNAL CONTROL SYSTEM Adequate internal control systems in the risk management function is required to ensure that the risk management process goes well in accordance with the precautionary principle. In practice, the Company’s internal control system has followed the suitability of the internal control system with internationally recognized framework (COSO-internal control framework). Internal control systems of the Company include: 1. The declaration of Organizational Culture 2. Identification and assessment of risks through the Risk Control Self Assessment; 3. Separation of duties, authorities and functions in accordance with the position; 4. The accounting system, information and communication 5. Supervision by management 6. The existence of Bussiness Countuinity Plan and Disaster Recovery Plan The Company has implemented internal control system includes: 1. Financial control, namely: a. The Company has developed a Bank Business Plans that includes the overall Company strategy including business development direction. b. Board of Commissioners and the Board of Directors jointly active in discussions and provide Kilas Kinerja 2016

input and monitor the internal conditions and monitor the development of the external factors that directly or indirectly affect the Company’s business strategy. c. Monitoring of performance realization against budgets in the reports are generated periodically and discussed at a meeting of the Board of Directors and joint meetings of the Board of

Laporan Manajemen

Directors and Commissioners. 2. Operational control, namely: a. The Company has a standard operational/implementation guideline of the Company’s operations that detailing the work procedures of each transaction banking operations that are

Profil Perusahaan

conducted by the Department of Policy which has gone through a process of discussion, the feedback from work units to ensure operational risks that may incurred can be mitigated well. b. The stipulation of the Board of Directors related to the limitation of authority officials/officers related that include the limitation of authority related to limit credit, operational and transaction


execution limit operating expenses are realized by restricting access to Core Banking System by providing a user ID accordance with the position. c. A clear separation of functions between operational unit (business unit) with a working unit of

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risk management and apply the methods of segregation of duties by using the concept Maker,

218

Checker, Approval (MCA) in all operational activities.

3. Internal controls in the field of risk management are as follows: a. Risk management work unit is an independent working unit who make policies, procedures and tools for the identification, measurement, monitoring and risk control. b. Internal Audit Unit (SKAI) carry out risk control at every process of business activities of the Company that contain vulnerability to abuse or pose a risk to the Company. The audit findings by the Internal Audit Unit is informed in writing to the relevant units and risk management work unit to be followed-up, in order to detect and anticipate any potential risks so that losses can be avoided and mitigated. In the reporting period, the evaluation conducted on the effectiveness of internal control system is to control implementation of financial, operational and risk management contained in the results of the audit report.





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Public Accountant The Company has appointed the Public Accounting Firm registered at Bank Indonesia, the FSA and the Department of Treasury. The appointment has also received recommendation from the Audit Committee. The election process of Public Accountant Firm has been done according to applicable regulations. The audit assignment to the Public Accounting Firm has met the following aspects: 1. The capacity of appointed Public Accounting Firm 2. Legality of labor agreement 3. The scope of audit 4. Standard professional public accountant 5. Communications of Bank Indonesia with Public Accounting Firm The consolidated financial statements of the Company in 2016 were audited by Purwanto Sungkoro & Surja with audit fees of Rp940,000,000. Appointment of Public Accountant and Public Accounting Firm has received the approval of the GMS on April 20, 2016, authorized the Board of Commissioners to appoint the Public Accounting Firm on registered on the recommendation of the Audit Committee. Audit implementation of the Company’s Kilas Kinerja 2016

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220

financial statement performed by the Public Accounting Firm set by the Circular Decision of the Board of Commissioners.

Audit Period and Audit Fees Public Accounting Firm Purwanto Sungkoro &

The table below informs Accountant and Public

Surja has audited the annual financial statements

Accounting Firm that perform Financial Audit for

of the Company for 6 (six) period since 2011.

the Company for four years as well as audit costs incurred:

Year

Public Accounting Firm

Accountant Name (individual)

2016

Purwanto, Sungkoro & Surja

Yasir

Rp940,000,000

2015


Sinarta

Rp910,000,000

2014


Sinarta

Rp870,000,000

2012


Sinarta

Rp850,000,000

2012

Purwanto, Suherman & Surja

Peter Surja

Rp850,000,000

2011

Purwanto, Suherman & Surja

Peter Surja

Rp850,000,000

Audit Fee


Other Services Besides the Financial Audit During 2016, the accounting firm Purwanto Sungkoro & Surja provide other services to the Company in the form of the Financial Audit for the purposes of Right Issues.




2016

ANNUAL REPORT

221

Risk Management Situation of the external and internal

risk management to support the achievement of

environment is undergoing rapid changes

performance targets and capable of maintaining

followed by increasingly complex risk banking

business continuity, thus increasing the

activities, especially products and services that

effectiveness of the use of capital and the level of

increase the risk exposure and risk profile of the

development of capital (return on equity / ROE)

bank. Risk management becomes very important

that can provide added value for shareholders,

for banks to be able to conduct business with

increasing the confidence of shareholders and

measurable levels of risk. The growing need

other stakeholders and improve business at an

for management of the Bank of healthy and

optimum level.

integrated (GCG) requires the application of

Vision and Mission of Risk Management Vision of Company’s Risk Management:

Mission of Company’s Risk Management:

“Making risk management as INHERENT

“Ensure the adequacy of the entire risk

CULTURE in the implementation of all banking

management procedures and methodologies on

activities”.

the business activities of the Company”

Kilas Kinerja 2016

Laporan Manajemen

Legal Basis To achieve the above objectives and in line with FSA Regulation No. 18/POJK.08/2016 dated March 16, 2016 regarding Implementation of Risk Management for Commercial Banks, need to build cultural awareness and integrated risk management (integrated risk culture) and focused on the effective

Profil Perusahaan


implementation of corporate governance and risk management framework.

Head of Compliance, Risk Management and Legal Division Profile

REPORT

2016 ANNUAL

VIVERY UJIASTUTI Bachelor of Economics from the Universitas

Over the past 12 years working in the field of

Kristen Satya Wacana, Salatiga, born in

credit administration further by management

Temanggung in 1964. She started a career in

are believed to play an active role in business,

banking since 1989 in Sino Bank as Operations

both in the Retail Business and General Business

Staff and last sat as a Credit Review Manager

Division. And since November 2014 was

before moving to Bank Agroniaga as Head of

appointed by the Board of Directors to lead the

Credit Administration in 1997.

Division of Compliance, Risk Management and Legal (KMRH).

222

Risk Management Organization Structure Implementation of risk management involving all elements in the Company, especially active supervision from the Board of Commissioners and Board of Directors as well as the organization and functions that are directly related to risk management that includes active monitoring of bank management, the adequacy of policies and procedures and risk limits, the process of identification, measurement, monitoring and bank risk control, and the integration of information systems at the Company. The organizational structure of risk management in the Company as follows:

Audit Committee


Internal Audit Unit

President Director

Risk Monitoring Committee

Work Unit Risk Management Committee



Business Director

Credit Risk Management & Funding Director

Finance and Operations Director

Compliance Director


Work Unit

Work Unit

Membership Line


2016

Reporting Line

Satuan Kerja

ANNUAL REPORT

Managerial Line

Work Unit

223

Active supervision of the Board of Commissioners and Board of Directors Board of Commissioners and Board of Directors

Directors is assisted by the Risk Management

in charge of ensuring the implementation of

Committee. Risk Management Committee

adequate risk management in accordance with

in charge of and responsible for providing

the characteristics, complexity and risk profile

recommendations to the President Director in

of the Company as well as a good understanding

formulating policy, risk management strategy

of the type and level of risk inherent in the

including the establishment of limits and

Company’s business activities.

improve or enhance the implementation of risk management is conducted regularly and

In conducting supervision and risk management,

incidental as a result of changes in external and

the Board of Commissioners is assisted by

internal conditions of the Company which will

the Risk Monitoring Committee and Board of

affect the capital adequacy and risk profile.

Policies, Procedures and Limit Kilas Kinerja 2016

Implementation of risk management in the Company has been formulated into a number of policies and procedures, among others, the Risk Management General Policy (KUMR).

Laporan Manajemen

KUMR role as the supreme rule in the the Company’s business, starting from the


Guidelines. 4. Guidelines on Risk and Control Self Assessment (RCSA). 5. Guidelines for Contingency Funding Plan

implementation of risk management throughout

Profil Perusahaan

3. Anti Fraud Strategy Implementation

policy, strategy, organization, information

6. Guidelines of Credit Risk Rating for Retail Business 7. Guidelines for Productive Worker Credit Scoring System Implementation

systems risk management and risk control,

8. Determination of Limit Dealer Transaction

management of new products and activities and

9. Guidelines for Risk-Based Bank Rating

a Business Continuity Plan (BCP). The process

10. Risk Management Guidelines on New

of risk management includes the identification,

Products and/or Activities

measurement, monitoring, management and

11. Guidelines on Stress Testing Implementation

control of 8 (eight) risks such as credit risk,

12. Guidelines on Loss Data Base Management

market risk, liquidity risk, operational risk,

(LDM)

REPORT

2016 ANNUAL

compliance risk, strategic risk, legal risk and reputation risk.

the relevant work units, which subsequently Policies and procedures and risk limits that have

recommended to the Risk Management Unit for

been owned by the Company include:

approval by the Board of Directors through the

1. Guidelines of Risk Management

Risk Management Committee in accordance with

Implementation for Liquidity Risk, 2. Guidelines of Risk Management Application for the Use of Information Technology,

224

Risk limits for each type of risk carried out by

their respective authorities.

Risk Management Process Identification, measurement, monitoring and

the Company. Risk measurement for credit

controlling risk is a major part in the process of

risk using scoring and rating systems, for

risk management. The risk management process

liquidity risk using the Liquidity Gap, market

covers all the Company’s business activities and

risk (Interest Rate Risk on Banking Book)

conducted in order to analyze the source and

using Repricing Gap and operational risk

possible risks and impacts. The Company has set a Risk Management Unit as an independent

using RCSA. 3. Monitoring

unit from the transaction parties to monitor and

Risk monitoring conducted on the

analyze the level and trend toward risk.

magnitude of the risk exposure, internal limit compliance and consistent implementation

The risk management process, consisting of:

of the established policies and procedures.

1. Identification

Monitoring is carried out either by the

Identification is done by analyzing all types

implementing unit as well as the Risk

and characteristics of the risks inherent in

Management Unit. The monitoring results

any business activities of the Company which

are presented in the form of periodic reports

also includes products and other services.

submitted to management in order to

Risk identification is carried out at the level

mitigate the risks and the actions needed.

of Head Office, branch offices throughout

4. Control

Indonesia by using the Risk Management

Risk control conducted among others by

device.

providing follow-up of risk that are moderate

2. Measurement

to high, and high that exceeds the limit, the

Risk measurement system used to measure

increase control (supervision attached),

the risk exposure of the Company as a

additional capital to absorb potential losses,

reference for the control. Risk assessment

and periodic internal audit. In addition, it also

conducted periodically both for product and

conducted an analysis of the New Product

portfolio as well as all business activities of

and/or Activities (PAB).

Risk Management Information System





As part of risk management process, the Risk Management Information System aims to measurability of the overall risk exposures/composite and compliance with the risk management policies, procedures

system using RCSA (Risk Control and Self Assessment) and LDM (Loss Database Management) online.

2016

applications, CRR (Credit Risk Rating) application Retail and Medium. Operational risk measurement

ANNUAL REPORT

and risk limits. Risk management information system that is applied among others are Scoring System

225

Risks encountered Risk management through operational activities

by the Risk Management Unit and measured

aimed at managing credit risk, market risk,

the effectiveness of the implementation of the

liquidity risk, operational risk, legal risk, strategic

(assurance) by the Internal Audit Unit.

risk, compliance risk and reputation risk on an acceptable level. Credit risk management is done

Eight risks either directly or indirectly as well

through the first line of defense, second line of

as the Company’s efforts to manage these risks,

defense and the third line of defense. Market

are classified into eight types of risk are: credit

and liquidity risk management is done through a

risk, market risk, liquidity risk and operational

system of limits. Operational risk management

risk, legal risk, reputation risk, strategic risk and

at the bank products and activities performed

compliance risk.

on all units of work, and in a review by bank wide

Credit Risk Implementation of credit risk management is Kilas Kinerja 2016

done with the effort:

Credit Risk Scoring (CRS) as a tool to measure

1. Separation of loan officers forRelationship

the level of risk in the credit approval process

Management (RM) and Credit Risk Management (CRM) as well as the separation Laporan Manajemen


through the establishment of the Target

the non-performing loans management as

Market (PS), Acceptable Risk Criteria (KRD). exposure (according to Delegate Authority

activities can be carried out better without

Decision Credit / PWDK and Lending Limit

disrupting the healthy and growth-oriented

/ BMPK) and corrective action so that the

business processes. Officials credit lines

losses that may occur can be minimized.

granted limit authority to decide on loans

5. Applying Early Warning System (EWS) as a

issued in a decree in which the authority is

monitoring tool (credit monitoring) by means

determined based on the integrity, ability and

of early detection of potentially default

competence and experience in credit and in

debtor.

REPORT

that the loan process will be carried out more

2016 ANNUAL

4. Risk control, in particular by restricting

intended for the risk management in lending

accordance with the provisions stipulated

226

and credit risk mitigation. 3. Determination of prudent credit procedures

of performing loans management with the application of four eyes principles and

Profil Perusahaan

2. Application of Credit Risk Rating (CRR) and

objectively and comprehensively by applying the precautionary principle.

BILLS WHICH HAS MATURED BILLS OR IMPAIRED The Company has set its own definition for bills

Objective evidence is adverse events to the credit

that are due and the bills are impaired. The bill

of the Company based on data on the observation

which has matured is the entire bill/group of bills

of the events that concern and affect the ability

that are overdue for more than 90 (ninety) days,

of debtors to pay in the future. In the event of

either for payment of principal and/or interest

impairment, the carrying amount of credit after

payments.

the impairment is less than the carrying value of the start shall be set up a reserve for impairment

The entire bill can be impaired when it is in a

losses (CKPN) to cover losses due to impairment.

condition of objective evidence the occurrence

CKPN is the provision has been calculated from

of an adverse event as a result of one or more

the amount of impairment of financial assets that

events that occurred after the initial recognition

are evaluated individually or collectively.

of the loan and that loss event has an impact on the estimated future cash flows of the financial asset or group financial assets that can be reliably estimated. Business Supporting Unit




2016

ANNUAL REPORT

227

Disclosure of Net Claims by Region DeCember 31, 2016 Area

Portfolio Category

Jakarta

Central & East Indonesia

West Java

in thousand Rupiah

1

Claims to the Government

1.959.178.257

2

Claims on the public sector

242.270.960

3

Charges to Bank Multilateral and International Institutions

4

Claims To Bank

861.322.950

20.000

10.307

5

Backed Loan House Live

110.710.768

16.302.100

32.451.430

6

Loan-Backed Commercial Property

1.548.304

586.367

222.297.107

7

Credit Employee / Retirement

84.658.671

8.473.978

83.136.347

8

Claims To Micro, Small Business and Retail Portfolio

801.564.489

167.973.963

26.364.318

9

Claims To Corporations

3.988.694.057

73.528.134

63.802.629

16.994.425

7.278.436

2.988.464

208.270.282

3.401.677

8.843.524

8.275.213.163

277.564.656

439.894.127

10 Claims That Has Maturity 11 Other assets Kilas Kinerja 2016

12 Exposures in the Sharia Unit Total

Disclosure of Net Claims by Region (Balance Sheet Items) Laporan Manajemen

DeCember 31, 2016 Area

Portfolio Category

Central & East Indonesia

West Java

1.491.873

838

931

8.308.934

1.220.070

334.192

107.967.687

571.242

5.403

1.792.150

340.526

Jakarta Profil Perusahaan

REPORT

2016 ANNUAL


in thousand Rupiah

1


2


3


4

Claims To Bank

5


6


7


8


9


10 Claims That Has Maturity

41.411.766

24.020.018

99.760

11 Other assets 12 Exposures in the Sharia Unit Total

228

183.300.037

Central Java & DIY

Total

East Java

Sumatra

1.959.178.257 92.489.735

334.760.695 0

24.759.307

16.673.166

23.247.733

926.033.464

16.841.319

8.435.350

50.142.809

234.883.777

39.512.207

263.943.986

8.023.981

8.708.021

193.260.766

386.261.764

90.872.815

106.498.902

560.516.691

1.753.791.178

84.444.611

604.019.816

223.289.669

5.037.778.917

14.957.512

822.933

78.765.033

121.806.803

5.725.341

8.605.318

51.226.870

286.073.011

245.624.887

753.763.506

1.312.451.515

11.304.511.853



Central Java & DIY

Total

East Java

Sumatra CORPORATE GOVERNANCE

0 8.866

41.420.632 0

211.217

132

132

238.492

1.732.134

104.000

104.000

852.476

1.832.438

11.866.055

24.414.164

513.449

13.645.613

1.271.868

123.975.263

2.000

101.760

2016

43.355.941

ANNUAL REPORT

19.124.707


0 0 1.365.925

15.793.267

32.512.121

235.104.026

229

Net Claims disclosure by Time Period DeCember 31, 2016 Contract time remaining

Portfolio Category

<1 Year

>1-3 Years

in thousand Rupiah

1


1.959.178.257

2


191.015.614

43.054.841

3


4

Claims To Bank

850.352.467

36.744.989

5


2.112.894

11.804.151

6


8.354.683

24.262.546

7


21.188.558

154.554.465

8


744.702.948

115.650.411

9


1.652.524.089

1.370.416.995

42.443.086

13.722.881

10 Claims That Has Maturity 11 Other assets Kilas Kinerja 2016

Laporan Manajemen

286.073.011

12 Exposures in the Sharia Unit amount

5.757.945.608

Net Claims disclosure by Time Period (Balance Sheet Items) DeCember 31, 2016 Contract time remaining

Portfolio Category

<1 Year Profil Perusahaan

REPORT

2016 ANNUAL


1.770.211.280

>1-3 Years

in thousand Rupiah

1


2


3


4

Claims To Bank

5


6


7


8


22.744.239

1.669.925

9


81.772.683

42.202.580

10 Claims That Has Maturity

41.420.632

311.217

43.044.725

132 240.807

1.491.326

54.000

101.760

11 Other assets 12 Exposures in the Sharia Unit amount

230

146.645.470

88.408.556

Total

>3-5 Years

>5 Years

Non Contractual 1.959.178.257

88.734.744

11.955.496

334.760.695 0

4.000.000

34.936.007

926.033.464

26.370.452

194.596.281

234.883.777

28.814.957

202.511.800

263.943.986

119.055.419

91.463.322

386.261.764

223.393.515

670.044.303

1.753.791.178

237.847.650

1.776.990.183

5.037.778.917

8.956.241

56.684.595

121.806.803 286.073.011

737.172.979

3.039.181.986

0

11.304.511.853



Total

>3-5 Years

>5 Years

Non Contractual


0 41.420.632 0 43.355.941


132 104.000 24.414.164

2016

50.000

ANNUAL REPORT

1.732.134

123.975.263 101.760 0 0 50.000

0

0

235.104.026

231

Net Claims Disclosure By Economic Sector DeCember 31, 2016 Economic Sector Economic Sector Claims on Government

Claims on Public Sector

Charges to Bank Multilateral & International Institutions

Claims on Banks


in thousand Rupiah

Kilas Kinerja 2016

1

Agriculture, Hunting and Forestry

2

Fishery

3

Mining and excavation

4

Processing industry

5

Electricity, Gas And Water

6

Construction

7

Wholesale And Retail

8

The provision of accommodation and provision of Eat Drink

9

Transport, Storage and Communication

322.675.526

177.271

24.739.297

1.040.392

10 Financial intermediaries Laporan Manajemen

Profil Perusahaan


11

REPORT

Real Estate, Leasing and Business Services

Administration, Defence 12 and Compulsory Social Security 13 Educational services 14

Health Services and Social Activities

131.193

Services Community, Social Culture, 15 Entertainment and Other Individuals 16

2016 ANNUAL

900.735.028

Personal Services Serving Households

International Agency 17 and the Agency for International Extra Other 18

Activity Limitations Unclear

233.534.920

19 Not the Business Sector 20 Others Total

232

1.959.178.257

12.085.169

1.959.178.257

334.760.695

559.139 0

926.033.464

234.883.777

Credit to SME & Retail Portfolio

The bill which has been Maturity

32.521.688 2.109.355.489

714.339.569

64.638.448

0

4.456.559

465.724

0

6.591.778

-

469.558.613

69.201.506

5.034.501

0

3.052.647

-

709.869

128.901.195

74.913.121

6.069.815

8.607.305

722.365.430

481.669.315

16.866.526

158.012.137

218.342.848

43.817.227

1.214.976

53.527.484

100.546.151

1.400.442

1.139.904.482

9.551.007

-

92.006.312

85.271.899

4.075.777

81.486

1.323.847

-


988.523

62.850.515

Credit Employee & Retiree

Other Assets




0

19.450.575

13.996.105

74.380.959

2.997.481

0

827.090

-

64.397.927

19.043.111

286.073.011

386.261.764 1.753.791.178

121.806.803

286.073.011

386.261.764


2016

0

Exposures in the Sharia Unit

ANNUAL REPORT

253.947

Claims on Corporations

89.739.471 263.943.986 5.037.778.917

0

233

Net Claims Disclosure By Economic Sector (Balance Sheet Items) DeCember 31, 2016 Economic Sector Economic Sector Claims on Government

Claims on Public Sector

Charges to Bank Multilateral & International Institutions

Claims on Banks


in thousand Rupiah

Kilas Kinerja 2016

Laporan Manajemen

Profil Perusahaan


1

Agriculture, Hunting and Forestry

2

Fishery

3

Mining and excavation

4

Processing industry

5

Electricity, Gas And Water

6

Construction

7

Wholesale And Retail

8

The provision of accommodation and provision of Eat Drink

9

Transport, Storage and Communication

REPORT

132

10 Financial intermediaries

19.355.941

Real Estate, Leasing and Business Services

24.000.000

11

Administration, Defence 12 and Compulsory Social Security 13 Educational services 14

Health Services and Social Activities

Services Community, Social Culture, 15 Entertainment and Other Individuals 16

2016 ANNUAL

41.420.632

Personal Services Serving Households

International Agency 17 and the Agency for International Extra Other 18

Activity Limitations Unclear

19 Not the Business Sector 20 Others Total

234

0

41.420.632

43.355.941

0

132



Credit Employee & Retiree

5.836.414

Credit to SME & Retail Portfolio


Other Assets

Exposures in the Sharia Unit

1.846.658 80.020 568.255

212

23.886.836

1.407.697

99.760

5.038 1.491.326

6.770.856

5.074.458

240.595

35.366.365

10.002.149

1.305.655

29.313

2.882.483

772.294

46.661.130

520.125

532

1.185.783

2.000



535


247.310

1.264.990


2.674.528

2016

ANNUAL REPORT

104.000

1.732.134

123.975.263

104.000

24.414.164

101.760

235

THE APPROACH USED FOR THE FORMATION OF ALLOWANCE FOR IMPAIRMENT LOSSES The approach taken by the Company in

2. Collective Impairment made for the entire

determining the limit values are included

financial asset that:

evaluated individually and collectively performed

a. not evaluated individually,

as follows:

b. evaluated individually but no objective

1. Individual impairment is calculated for

evidence of impairment,

financial assets (securities, loans, etc.) which

c. evaluated on an individual basis and there

are evaluated individually based on two

is objective evidence of impairment but

concepts, namely:

not impaired.

a. Estimates of the number of losses of financial assets based on all the information available with regard repayment capacity, the type and amount of collateral, guarantee the availability of the debtor’s business and prospects for the future. b. Estimated recoverable amount Kilas Kinerja 2016

Laporan Manajemen

Disclosure Bills and Provision by Region (Balance Sheet Items) 31 Desember 2016

Profil Perusahaan

Wilayah

Portfolio Category

Indonesia Tengah & Timur

Jawa Barat

5.053.227.997

252.522.504

429.070.273

Jakarta dalam ribuan Rupiah

REPORT

2016 ANNUAL


236

1

Tagihan

2

Tagihan yang Mengalami Penurunan Nilai

29.163.132

45.846.014

8.442.571

a. Belum Jatuh Tempo

24.901.086

18.327.768

3.920.365

b. Telah Jatuh Tempo

4.262.045

27.518.246

4.522.205

3

CKPN Individual

8.359.350

15.806.030

304.008

4

CKPN Kolektif

54.263.667

8.419.509

6.168.540

5

Tagihan Yang Hapus buku

3.522.774

493.107

297.971

CKPN calculation is done using the methodology

Establishment of a collective impairment loss rate

Impairment of individually calculated through:

historically performed using statistical methods

1. Discounted Cash Flow is estimated

based on internal loan grades:

recoverable amount is based on the

1. Probability of Default (PD) is the probability

identification of future cash flows and

of failure debtor’s obligations, as measured

estimates dating present value of those cash

by using a Roll Rate Method (using age

flows. The impairment loss is calculated by

data delinquent financial assets), Migration

comparing the carrying amount of financial

Analysis (using the internal rating system and

assets with the discounted cash flow based on

is done by analyzing the migration levels of

the effective interest rate of financial assets

outstanding financial assets of the highest

in question.

grade to the lowest grade).

2. Fair Value of Collateral is measurement

2. Loss Given Default (LGD) is the level of losses

of financial assets is impaired reflect the

resulting from the failure of the debtor to

fair value of the collateral. Collateral is not

meet obligations.

recognized as assets separately from financial assets is impaired.



Jumlah

Jawa Tengah & DIY

Jawa Timur

Sumatera

210.056.163

715.251.495

1.113.761.854

7.773.890.287

44.475.936

8.035.255

269.900.605

405.863.512

21.201.191

6.737.083

96.407.090

171.494.583

23.274.745

1.298.172

173.493.514

234.368.928

2.620.715

1.231.615

76.341.570

104.663.289

12.031.847

8.102.921

46.275.127

135.261.611

2.749.582

24.772

20.116.574

27.204.780



2016

ANNUAL REPORT

237

Disclosure Charges and Reserves - Based Economic Sector

Economic Sector

Tagihan

Tagihan yang Mengalami Penurunan Nilai Belum Jatuh Tempo

Telah Jatuh Tempo

71.377.297

102.149.564

dalam ribuan Rupiah

31 DESEMB ER 2 0 1 6

Kilas Kinerja 2016

1

Pertanian, Perburuan dan Kehutanan

2

Perikanan

3

Pertambangan dan Penggalian

4

Industri Pengolahan

5

Listrik, Gas Dan Air

6

Konstruksi

7

Perdagangan Besar Dan Eceran

8 9

11

4.447.674

805.535

6.661.220 9.575.070

7.541.522

203.336.882

3.920.657

35.898.495

1.198.535.165

31.583.311

41.343.619

Penyediaan Akomodasi dan Penyediaan Makan Minum

422.619.218

2.971.197

1.916.617

Transportasi, Pergudangan Dan Komunikasi

147.446.622

10.974.804

2.080.705

16.101.907

6.307.040

10 Perantara Keuangan Laporan Manajemen

3.172.351.342

Real Estate, Usaha Persewaan, dan Jasa Perusahaan

562.891.105 3.084.805

1.043.940.713 229.355.238

Administrasi Pemerintahan, 12 Pertahanan dan Jaminan Sosial Wajib Profil Perusahaan

13 Jasa Pendidikan Jasa Kesehatan Dan Kegiatan Sosial

19.144.364

752.579

Jasa Kemasyarakatan, Sosial 15 Budaya, Hiburan dan Perorangan Lainnya

88.638.040

17.119

5.387.651

669.183.071

24.220.640

30.938.178

7.773.890.287

171.494.584

234.368.928

14

REPORT

2016 ANNUAL


1.420.137

16

Jasa Perorangan yang Melayani Rumah Tangga

17

Badan Internasional dan Badan Ekstra Internasional Lainnya

18

Kegiatan Yang Belum Jelas Batasannya

834.689

19 Bukan Lapangan Usaha 20 Lainnya Jumlah

238

CKPN Individual

CKPN Kolektif

Tagihan yang dihapus Buku

55.521.808

46.648.403

13.167.350

330.926

1.231.615

69.441

251.665

9.253.642

999.584

32.158 26.645.640

5.916.393

3.972.282

15.404.571

25.508.556

2.543.105

926.698

5.193.146

2.620.715


2.407.339 10.798.102

2.312.241

5.247.441

940.000


CORPORATE

14.804

GOVERNANCE

315.175 2.668.265

1.776.204


7.599

135.261.611

27.204.780

2016

3.554.590

ANNUAL REPORT

104.663.289

20.850.219

239

Disclosure Charges and Reserves - Based Economic Sector

Economic Sector

Tagihan

Tagihan yang Mengalami Penurunan Nilai Belum Jatuh Tempo

Telah Jatuh Tempo

2.136.160.163

86.014.046

59.731.372

4.107.425

531.188

629.206

dalam ribuan Rupiah

31 DESEMB ER 2 0 1 5

Kilas Kinerja 2016

1

Pertanian, Perburuan dan Kehutanan

2

Perikanan

3

Pertambangan dan Penggalian

4

Industri Pengolahan

5

Listrik, Gas Dan Air

6

3.379.208

649.305

811.439

560.010.604

1.923.520

5.222.827

1.124.872

0

0

Konstruksi

168.876.593

7.975.109

2.756.106

7

Perdagangan Besar Dan Eceran

822.157.888

9.861.702

13.060.523

8

Penyediaan Akomodasi dan Penyediaan Makan Minum

137.291.669

277.556

463.700

9

Transportasi, Pergudangan Dan Komunikasi

83.317.782

11.965.178

4.255.221

868.042.654

0

0

143.401.570

2.656.593

5.576.370

10 Perantara Keuangan Laporan Manajemen

11

Real Estate, Usaha Persewaan, dan Jasa Perusahaan

Administrasi Pemerintahan, 12 Pertahanan dan Jaminan Sosial Wajib Profil Perusahaan

13 Jasa Pendidikan

1.063.660

0

0

Jasa Kesehatan Dan Kegiatan Sosial

8.641.368

0

0

Jasa Kemasyarakatan, Sosial 15 Budaya, Hiburan dan Perorangan Lainnya

64.665.665

2.176.148.

6.273.184

176.363

0

0

14

REPORT

2016 ANNUAL


0

16

Jasa Perorangan yang Melayani Rumah Tangga

17

Badan Internasional dan Badan Ekstra Internasional Lainnya

18

Kegiatan Yang Belum Jelas Batasannya

0 785.418.724

19.318.585

14.556.542

5.787.836.210

143.348.932

113.336.491

19 Bukan Lapangan Usaha 20 Lainnya Jumlah

240

CKPN Individual

CKPN Kolektif

Tagihan yang dihapus Buku

dalam Rupiah

3 1 D E SE M B E R 2015 24.306.029

41.291.785

0

310.469

0

377.221

0

7.685.690

0

10.773

1.008.281

3.574.894

0

13.734.998

959.934

1.188.698

35.709.478

1.935.275

2.552.734

6.875.000

0

9.266.986

1.617.251

3.167.683

0

10.187

0

82.759

0

2.938.906

0

1.689

0

15.808.915

31.578.852

29.826.770

102.004.388

74.163.330





2016

ANNUAL REPORT

241

Disclosure of details Mutations-Quantitative Impairment Losses 31 Desember 2016 The Underlying Variable

CKPN Individual

CKPN Kolektif

dalam ribuan Rupiah

1

Saldo CKPN

29.826.770

2

Pembentukan (Pemulihan ) CKPN Pada Periode Berjalan (Net)

102.004.388

a. Pembentukan CKPN Periode Berjalan

85.123.378

93.034.913

b. Pemulihan CKPN Periode Berjalan

(7.025.787)

-35.916.674

-

-27.204.780

3

CKPN yang digunakan untuk melakukan hapus Buku tagihan Periode berjalan

4

Pembentukan (Pemulihan ) lainnya pada Periode Berjalan

82.691

Jumlah

107.924.362

132.000.538

Net Claims Disclosure By Category Portfolio and Scale Rating Bank Tagihan Bersih

Lembaga Pemeringkat

Kilas Kinerja 2016

Standard & Poor's

AAA

AA+ sd AA-

BBB+ sd BBB-

BB+ sd BB-

B+ sd B-

Fitch Rating

AAA

AA+ sd AA-

BBB+ sd BBB-

BB+ sd BB-

B+ sd B-

Aaa

Aa1 sd Aa3

Baa1+ sd Baa3-

Ba1+ sd Ba3-

B1+ sd B3-

AAA (idn)

AA+(idn)sd AA-(idn)

BBB+(idn) sd BBB- (idn)

BB+(idn) sd BB- (idn)

B+(idn) sd B- (idn)

(idr)AAA

(idr)AA+ sd (idr) AA-

(idr)BBB+ sd (idr) BBB-

(idr)BB+ sd (idr) BB-

(idr)B+ sd (idr) B-

idAAA

idAA+ sd AA-

idBBB+ sd idBBB-

idBB+ sd idBB-

idB+ sd idB-

Moody's PT Fitch Rating Indonesia Laporan Manajemen

PT ICRA Indonesia PT Pefindo

Profil Perusahaan

REPORT

2016 ANNUAL


Economic Sector dalam ribuan Rupiah

1

Tagihan Kepada Pemerintah

2

Tagihan kepada sektor publik

3

Tagihan Kepada Bank Multilateral dan Lembaga Internasional

4

Tagihan Kepada Bank

5

Kredit Beragun Rumah Tinggal

6

Kredit Beragun Property Komersial

7

Kredit Pegawai/Pensiun

8

Tagihan Kepada Usaha Mikro, Usaha Kecil dan Portofolio Ritel

9

Tagihan Kepada Korporasi

10 Tagihan Yang Telah Jatuh Tempo 11 Aset Lainnya 12 Eksposur di Unit Syariah Jumlah

242

Peringkat Jangka Panjang

STANDARD APPROACH Policy of ATMR calculations for Credit Risk

of a clean bill with predetermined risk weights

performed with the Standard Approach refers

are based on the latest rankings of the debtor /

to Bank Indonesia Circular Letter No. 13/6 /

counterparty counterparty portfolio by category

DPNP dated February 18, 2011. In the standard

or a certain percentage of certain types of bills.

approach, the calculation is the multiplication

Peringkat Jangka Pendek Kurang dari B-

A-1

A-2

A-3

Kurang dari A-3

Kurang dari B-

F1+ sd F1

F2

F3

Kurang dari F3

Kurang dari B3

P-1

P-2

P-3

Kurang dari P-3

Kurang dari B-(idn)

F1+(idn) sd F1 (idn)

F2+(idn)

F3+(idn)

Kurang F3(idn)

Kurang dari (idr)B-

(idr)A1+ sd (idr) A1



Kurang A3(idn)

Kurang dari idB-

idA1

idA2

idA3 sd idA4

Kurang idA4

Tanpa Peringkat


Jumlah



1.959.178.258

334.760.695

334.760.695

926.033.464

926.033.464

5.037.778.917

5.037.778.917

8.257.751.333

8.257.751.333


ANNUAL REPORT

2016

1.959.178.257

243

Net Claims Disclosure By Category Portfolio and Rating Scale Bank (Balance Sheet Items) Tagihan Bersih

Lembaga Pemeringkat

Peringkat Jangka Panjang

Standard & Poor's

AAA

AA+ sd AA-

BBB+ sd BBB-

BB+ sd BB-

B+ sd B-

Fitch Rating

AAA

AA+ sd AA-

BBB+ sd BBB-

BB+ sd BB-

B+ sd B-

Aaa

Aa1 sd Aa3

Baa1+ sd Baa3-

Ba1+ sd Ba3-

B1+ sd B3-

AAA (idn)

AA+(idn)sd AA-(idn)

BBB+(idn) sd BBB- (idn)

BB+(idn) sd BB- (idn)

B+(idn) sd B- (idn)

(idr)AAA

(idr)AA+ sd (idr) AA-

(idr)BBB+ sd (idr) BBB-

(idr)BB+ sd (idr) BB-

(idr)B+ sd (idr) B-

idAAA

idAA+ sd AA-

idBBB+ sd idBBB-

idBB+ sd idBB-

idB+ sd idB-

Moody's PT Fitch Rating Indonesia PT ICRA Indonesia PT Pefindo Economic Sector

dalam ribuan Rupiah

Kilas Kinerja 2016

Laporan Manajemen

Profil Perusahaan

1


2


3


4

Tagihan Kepada Bank

5


6


7


8


9


10 Tagihan Yang Telah Jatuh Tempo 11 Aset Lainnya 12 Eksposur di Unit Syariah

REPORT

2016 ANNUAL


244

Jumlah

Peringkat Jangka Pendek Kurang dari B-

A-1

A-2

A-3

Kurang dari A-3

Kurang dari B-

F1+ sd F1

F2

F3

Kurang dari F3

Kurang dari B3

P-1

P-2

P-3

Kurang dari P-3

Kurang dari B-(idn)

F1+(idn) sd F1 (idn)

F2+(idn)

F3+(idn)

Kurang F3(idn)

Kurang dari (idr)B-




Kurang A3(idn)

Kurang dari idB-

idA1

idA2

idA3 sd idA4

Kurang idA4

Tanpa Peringkat

Jumlah

41.420.632

41.420.632 Business Supporting Unit

43.355.941

43.355.941


123.975.263

123.975.263


208.751.836

208.751.836


2016

ANNUAL REPORT

245

Exposure Liabilities Commitments / Contingent on the Balance Sheet 31 Desember 2016

Portfolio Category

Tagihan Bersih Setelah Memperhitungkan Dampak Mitigasi Risiko Kredit

ATMR Sebelum MRK

ATMR Setelah MRK

dalam ribuan Rupiah

EK SPO SUR N ER AC A

Kilas Kinerja 2016

Laporan Manajemen

1


2


3


4

Tagihan Kepada Bank

5


6


7


8


9


10 Tagihan Yang Telah Jatuh Tempo

41.420.632

20.710.316

20.710.316

43.355.941

8.740.559

8.740.559

132

99

99

1.732.134

1.732.134

1.732.134

104.000

52.000

52.000

24.414.164

18.310.623

17.386.623

123.975.263

123.975.263

122.554.263

101.760

152.640

152.640

235.104.026

173.673.633

171.328.633

11 Aset Lainnya 12 Eksposur di Unit Syariah Total Eksposur Neraca

Profil Perusahaan


Opponent Party Credit Risk Disclosure - Derivative Transactions REPORT

2016 ANNUAL

31 Desember 2015

246

The Underlying Variable

National Amount

<1 tahun

>1 th sd <5th

>5 tahun

1

Suku Bunga

0

0

0

2

Nilai Tukar

0

0

0

3

Saham

0

0

0

4

Emas

0

0

0

5

Logam selain Emas

0

0

0

6

Lainnya

0

0

0

Opponent Party Credit Risk Disclosure: Repo Transactions 31 Desember 2015 Portfolio Category

Nilai Wajar SSB Repo

Kewajiban Repo

Tagihan Bersih

ATMR

1

Tagihan kepada Pemerintah

0

0

0

0

2


0

0

0

0

3


0

0

0

0

4

Tagihan Kepada Bank

0

0

0

0

5


0

0

0

0

6


0

0

0

0

Opponent Party Credit Risk Disclosure: Reverse Repo Transactions - Individual Bank Business Supporting Unit

31 Desember 2015 Portfolio Category

Nilai Wajar SSB Repo

Kewajiban Repo

Tagihan Bersih

ATMR

1


0

0

0

0

2


0

0

0

0

3


0

0

0

0 CORPORATE

4

Tagihan Kepada Bank

0

0

0

0

5


0

0

0

0

6


0

0

0

0

Tagihan Bersih sebelum MRK

MRK

Tagihan Bersih setelah MRK

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0


2016

Kewajiban Derivatif

GOVERNANCE

ANNUAL REPORT

Tagihan Derivatif


247

RISK MITIGATION In calculating credit risk RWA with the Standard

The criterias that must be met in recognition

Approach, the Company calculates the existence

MRK technique are:

of collateral, warranties, guarantees, or credit

1. All documents collateral, warranties,

insurance as credit risk mitigation techniques,

guarantees, or credit insurance is used to

hereinafter referred to as Credit Risk Mitigation

meet the requirements in accordance with

Techniques (MRK).

the applicable legislation. 2. Conduct periodic review to ensure that the

The main principle in recognition technique is a

collateral, warranties, guarantees, or credit

MRK:

insurance still meets the requirements in

1. MRK techniques are only recognized when RWA Credit risk exposures using techniques

Kilas Kinerja 2016

Laporan Manajemen

accordance with the applicable legislation. 3. There is a clause which sets a reasonable

MRK lower RWA credit risk from these

time period for execution or disbursement of

exposures are not using techniques MRK.

collateral, warranties, guarantees, or credit

Credit Risk RWA calculation results after

insurance that is based on the conditions

taking into account the impact of the lower

that cause the debtor is not able to carry

MRK Engineering at zero.

out their obligations under the agreement

2. Impact of the existence of collateral,

providing (events of default). The Company

warranties, guarantees or credit insurance

has procedures to identify, measure, monitor

is recognized as the technique should not be

and control risks arising from the use of MRK

taken into account MRK double. The validity

techniques such as legal risk, operational

period of bonding collateral, warranties,

risk, liquidity risk and market risk, including

guarantees or credit insurance, at least equal

procedures to ensure that the execution of

to the remaining term of the credit.

collateral, warranties, guarantees, or credit insurance carried periods reasonable.

Profil Perusahaan

REPORT

2016 ANNUAL


248

Guarantee recognized in MRK technique is

Calculation of Credit Risk Weighted Assets -

performed as follows:

Standard Approach on exposure has accounted

1. The part that is secured by guarantees given

MRK Technique

technique the risk weight in accordance with

- Guarantee/Credit Insurance, namely:

the warranty issuer portfolio category.

1. Secured Portion, which is part of the value of

2. Parts that are not secured by guarantees

Net Claims exposure protection of guarantee

given a risk weighting of exposures in

/ credit insurance

accordance with the portfolio categories.

a. State-owned and meets the requirements referred to in the above given a weighting of 20%. b. No state-owned status and meets the requirements referred to in the above given a risk weighting guarantee / insurance institutions loan portfolio by category Charges To Public Sector Entities 2. Unsecured portion, which is part of the value of Net Claims exposure not get the protection of the collateral subject to the risk weighting


of exposures by category portfolio. Management Discussion and Analysis



2016

ANNUAL REPORT

249

The following table illustrates the use of a clean bill of weighted risk after taking into account the impact of credit risk mitigation, as well as the disclosure of net charges and credit risk mitigation techniques as of December 31, 2015. Risk Disclosure Net Claims Weight After Taking into account the impact of Credit Risk Mitigation DeCember 31, 2015 Portfolio Category

Net Claims Taking into account the impact of credit risk mitigation

0%

20%

35%

40%

50%

in thousand Rupiah

Kilas Kinerja 2016

Laporan Manajemen

Profil Perusahaan


A

B A L A N C E SH E E T E X P O SU R E

1

Claims on Government

2


3

Claims on Bank Multilateral and International Institutions

4

Claims on Banks

5


6


7


8


9


10


REPORT

2016 ANNUAL

334.760.695

884.532.681

41.500.783 234.883.777

386.261.764

11 Other assets 12

250

1.959.178.257

Exposures in the Sharia Unit Total Balance Sheet Exposure

1.959.178.257

884.532.681

234.883.777

0

762.523.242

75%

100%

150%

ATMR

Capital Expense

167.380.347

13.390.428

197.656.928

15.812.554

82.209.322

6.576.746

263.943.986

21.115.519

193.130.882

15.450.470

1.315.343.383

105.227.471

Others

263.943.986

1.753.791.178




5.037.778.917

5.312.661.489

110.868.218

0

177.240.912

14.179.273

7.434.684.679

594.774.774


2016

110.868.218

403.022.313

ANNUAL REPORT

1.753.791.178

10.938.586

5.037.778.917

251

31 Desember 2015 Portfolio Category

Tagihan Bersih Memperhitungkan Dampak Mitigasi RisikO Kredit

0%

20%

35%

40%

50%

dalam ribuan Rupiah

Kilas Kinerja 2016

Laporan Manajemen

B

EKSP O SU R KE WA J I BA N KO MITMEN /KO N TIJ EN SI PD R EK A DM.

1


2


3


4

Tagihan Kepada Bank

5


6


7


8


9


10

Tagihan Yang Telah Jatuh Tempo

41.420.632

43.124.707

231.235 132

104.000

11 Aset Lainnya Profil Perusahaan

12 Eksposur di Unit Syariah Total Eksposur TRA 1


2


3


4

Tagihan Kepada Bank

5


6


7

Eksposur di Unit Syariah

REPORT

2016 ANNUAL


Total Eksposur Counterparty Credit Risk

252

0

43.124.707

132

0

41.755.867

0

0

0

0

0

75%

100%

150%

ATMR

Beban Modal

20.710.316

1.656.825

8.740.559

699.245

99

8

1.732.134

138.571

52.000

4.160

18.310.623

1.464.850

123.975.263

9.918.021

152.640

12.211


173.673.633

13.893.891

GOVERNANCE

Lainnya

1.732.134

24.414.164 123.975.263 101.760


CORPORATE

24.414.164

125.707.397

101.760

0


2016

ANNUAL REPORT

0

0

0

0

0

0

253

Disclosure of Net Claims and Credit Risk Mitigation Techniques

Economic Sector

Tagihan Bersih

Agunan

dalam ribuan Rupiah

Kilas Kinerja 2016

Laporan Manajemen

Profil Perusahaan


A

E KSP O SU R N E RAC A

1


2


3


4

Tagihan Kepada Bank

926.033.464

5


234.883.777

1.959.178.257 334.760.695 0 3.000.000

6


263.943.986

7


386.261.764

8


1.753.791.178

32.154.271

9


5.037.778.917

123.773.451


121.806.803

50

11 Aset Lainnya

286.073.011

12 Eksposur di Unit Syariah

0

Total Eksposur Neraca

11.304.511.853

B

E KSP O SU R KE WA J I BA N KO MITMEN /KO N TIJ EN SI PD R EK A DM.

1


2


3


4

Tagihan Kepada Bank

5


6


7


8


9



158.927.721

0 41.420.632 0 43.355.941 132 1.732.134 104.000 24.414.164

1.232.000

123.975.263

1.421.000

101.760

11 Aset Lainnya 12 Eksposur di Unit Syariah REPORT

2016 ANNUAL

Total Eksposur TRA 1


2


3


4

Tagihan Kepada Bank

5


6


7

Eksposur di Unit Syariah Total Eksposur Counterparty Credit Risk

254

235.104.026

2.653.000.

0

0

31 Desember 2015

Bagian yang dijamin Dengan Garansi

Asuransi Kredit

Lainnya

Bagian yang tidak dijaminkan

1.959.178.257 334.760.695 0 923.033.464 234.883.777 263.943.986 386.261.764 1.721.636.907 4.914.005.467 121.806.803 286.073.011 0 0

0

0

11.145.584.132


41.420.632 0


43.355.941 132 1.732.134 104.000


23.182.164 122.554.263 101.760 0 0

0

232.451.026

0

0

0

232.451.026

ANNUAL REPORT

2016

0


255

CREDIT RISK ATMR CALCULATION Measurement of minimum capital requirements

In the standard approach, the calculation is the

to cover credit risk conducted in accordance with

multiplication of a clean bill with predetermined

the provisions of BI by using the Standardized

risk weights are based on the latest rankings of

Approach of Basel II since January 2012.

the debtor / counterparty counterparty portfolio by category or a certain percentage of certain types of bills.

Assets Exposure on balance Sheet 31 Desember 2016

Net Invoice After Calculating Credit Risk Mitigation Impact

portfolio category

RWA Before MRK

ATMR After RWA

in thousand Rupiah Kilas Kinerja 2016

Laporan Manajemen

Profil Perusahaan

REPORT

2016 ANNUAL


256

BA LA N C E SH EET EX PO SUR E 1

Invoice to Government

2

Invoice to Public Sector Entity

3

Invoice to Multilateral Development Bank and International Institution

4

1.959.178.257 334.760.695

167.380.347

167.380.347

Invoice to Bank

926.033.464

197.656.928

196.156.928

5

Loan with House Collateral

234.883.777

82.209.322

82.209.322

6

Loan with Commercial property Collateral

263.943.986

263.943.986

263.943.986

7

Employee/Retired Loans

386.261.764

193.130.882

193.130.882

8

Invoice to Micro Business, Small Business and Retail Portfolio

1.753.791.178

1.315.343.383

1.291.227.680

9

Invoice to Corporate

5.037.778.917

5.037.778.917

4.914.005.467


121.806.803

177.240.912

177.240.912

11 Other Assets

286.073.011

0

257.648.666

11.304.511.853

7.434.684.679

7.542.944.191

12 Exposure in Sharia Unit Total Balance Sheet Exposure

Exposure that Raised Credit Risk Due to Counterparty Credit Risk portfolio category

Net Invoice

RWA Before MRK

RWA After MRK

1

Invoice to Government

0

0

0

2


0

0

0

3

Invoice to Multilateral Development Bank and International Institution

0

0

0

4

Invoice to Bank

0

0

0

5

Invoice to Corporate

0

0

0

6


0

0

0

Total

0

0

0

Capital Reduction Factor

RWA

Exposure that Raised Credit Risk Due to Settlement Risk

Exposure Value

type of transaction 1

2

Delivery versus payment

0

0

a. Capital Expense 8% (5-15 days)

0

0

b. Capital Expense 50% (16-30 days)

0

0

c. Capital Expense 75% (31-45 days)

0

0

d. Capital Expense 100% (more than 45 days)

0

0

Non-delivery versus payment

0

0

0

Total

0

0

0

CORPORATE

2016

7.714.272.825


ANNUAL REPORT

decemnber 31, 2016 in thousand Rupiah

Total RWA Credit Risk


GOVERNANCE

Total Credit Risk Measurement type of transaction


Total Capital Reduction Factor

257

Market Risk Management of market risk management is

Measurement of market risk through analysis of

done through meetings Asset and Liability

the triggers of risk (risk driver), namely interest

Committee (ALCO), which discusses market

rates and the exchange rate is as follows:

risk management, strategy Asset and Liability

1. Interest Rate Risk

Management (ALMA) and measuring market

Financial instruments based on interest rates

risk through analysis of the triggers of risk (risk

at risk because there is potential interest rate

driver), namely interest rates and exchange rates.

changes that will impact the future cash flows.

Interest rate risk and exchange rate risk could

Interest rate risk mainly occurs due to an

come from a position trading book and banking

interest rate gap (repricing gap). Repricing

book positions. Scope positions banking book and

gap occurs because of differences in maturity

trading book positions refer to Bank Indonesia

schedule or time repricing between assets,

regulations regarding capital adequacy (CAR). In

liabilities and off-balance sheet components

the trading book market risk management, the Bank has established the principle of segregation

Kilas Kinerja 2016

Laporan Manajemen

owned by Bank. 2. Exchange Rate Risk

of duties. There is a separation of functions

Exchange rate risk is the risk that arises

between the parties to a transaction, which

because of the gap of foreign exchange

keep records of transactions, verification, unit

position of the Bank is reflected in the net

policymakers, procedures and limits as well as

open position (NOP) both individually and

the measurement of market risk, including the

as a whole. Included in the foreign exchange

calculation of CAR. Bank CAR calculating market

positions of the trading book positions

risk by using the standard model as a component

that are carried out in order to gain foreign

of the calculation of CAR.

exchange transactions in the short term and the banking book position in order to control

Profil Perusahaan


Market risk banking book, consisting of interest

the PDN.

rate risk resulting from banking activity (assets

Under the terms of Bank Indonesia, the PDN

and liabilities) and exchange rate risk. Banking

is set to a maximum of 20% of capital, while

book market risk is managed with the aim to

the Bank is internally set limit on net open

report the financial position of the Bank can

position of foreign exchange per a maximum

withstand changes in interest rates and exchange

of 10% of capital.

rates, thus achieving the NII (Net Interest Income) which can be controlled in accordance REPORT

2016 ANNUAL

with the Bank’s risk tolerance.

258

In accordance with Bank Indonesia, the Company made a calculation of market risk in the calculation of capital adequacy using standard methods with the following table:

Disclosure of Detail Mutation ofImpairment Losses Value-Quantitative 3december 1, 2016 Bank

portfolio category

Capital Expense

ATMR

in thousand Rupiah

1

Interest Risk a. Specific Risk

0

0

b. General Risk

2.584.400

32.305.000

2

Exchange Rate Risk

2.131.475

26.643.440

3

Equity Risk

4

Commodity Risk

5

Option Risk 4.715.875

58.948.440

Total





2016

ANNUAL REPORT

259

Operational Risk The implementation of operational risk

training intended to activate the role of work

management is done with measurement

unit / risk owner as a first line of defense, where

methodologies Risk Control Self-assessment

the governance of risk management has the

(RCSA) to each unit of work that aims to help

responsibility to identify, measure, monitor and

identify, measure, monitor and control the

control risks in the work unit.

functional activities and undertake corrective measures or a follow-up to the front. Operational

Risk Management Unit as a second line of

risks that have been identified because of several

defense is responsible for developing and

factors such as organization, system failures /

implementing policies / procedures and

information technology, information, human

methodologies, monitoring, assessment and

error and force majeure such as natural disasters.

monitoring of risk management processes as a guideline in the implementation of risk

Kilas Kinerja 2016

Laporan Manajemen

RCSA implemented in all work units and reported

management. SKMR also conduct monitoring

quarterly to the Risk Management section of

and assessment of the Bank’s risk profile, assess

the Compliance Division, Risk Management and

the impact of the risk of a new product and

Law as a basis for developing operational risk

activity, as well as supporting the operational

profile. Operational risk control using RCSA

unit in developing awareness and adherence to

methodology also aims to build awareness and a

the principles of risk management in question.

culture of risk (risk awareness and risk culture) so

Including by utilizing the results of an assessment

as to improve the quality control of operational

of the consistency of the implementation process

risk and minimize potential operational losses.

and the adequacy of internal controls in the application of risk management is carried out by

Efforts to improve the understanding of risk

the Internal Audit Unit (SKAI).

management is focused on promoting a culture Profil Perusahaan

REPORT

2016 ANNUAL


260

of risk awareness (risk awareness) is conducted

Application of Risk and Control Self Assessment

through the routine measurements every 3

(RCSA) which will be implemented in all work

(three) months for Operational Risk Management

units in the Bank is intended to help the working

(MRO) through Self-Assessment, held trainings

unit as a first line of defense, where the work

related to risk management to all employees of

unit to identify and quantify independently

the Bank such as training in the framework of

operational risk in functional activities, do

the Risk Management Certification (Banking

pemantauandan determination of corrective

Profession Certification Institute / LSPP or Risk

measures / action plan further ahead. The whole

Management Certification Agency / BSMR) and

operating unit (risk owner) actively engaged in

it does RMC meeting every three (3) months

the identification, measurement, monitoring.

with the Board of Directors. Dissemination and

Operational risk RWA calculation is done according to regulations of BI by using the Basic Indicator Approach (BIA) or the Basic Indicator Approach. The following is a table of capital and RWA burden of operational risk with the Basic Indicator Approach. Disclosure of Operational Risk by using BIA Method december 31, 2016 approach used

Average Gross Approach in the last 3 years

Capital Expense

ATMR

in thousend Rupiah

1

Basic Indicator Approach

294.645.337

44.196.801

552.460.008

Total

294.645.337

44.196.801

552.460.008

Liquidity Risk The Bank’s liquidity management has been

in the future will be measured by analyzing

established in the policy of liquidity risk

the Liquidity Gap Analysis and repricing

management. Liquidity risk management policies

gap, which is projected surplus / shortage of

include liquidity management, the establishment

liquidity on the basis of the maturity of assets

of financing strategies, early warning systems,

/ liabilities, after taking into account the need

measurement and liquidity risk limits, including

for business expansion. Bank this information

the management of high-quality liquid assets and

into consideration in planning and managing the

a financing plan emergency (contingency plan).

Bank’s liquidity, including the Bank’s business

The policy aims untu daily ensure sufficient funds

expansion needs are expected to minimize

to meet obligations under normal conditions or

liquidity risk in the Bank.




a crisis situation in a timely manner from various funding sources available, including memastika

Liquidity risk control Desk conducted by

availability of high-quality liquid assets.

Treasury and Risk Management section of the Compliance Division, Risk Management & Law and compliance operational units to limit the

Liability Committee (ALCO) and the meeting

liquidity that has been set. Specifically, Treasury

of the Risk Management Committee (RMC)

Desk also pay attention to early warning

with a limit of 25 core depositors concentration

indicators (earlywarning indicators) in monitoring

risk, the concentration of large depositors,

the liquidity position as part of the liquidity

Reserve Primary, Secondary Reserve, LDR and

management process as well as to determine the

PDN. Potential liquidity risk faced by the Bank

potential increase in risk.

2016

as a follow-up results of monitoring performance

liquidity, delivered through meetings Asset and

ANNUAL REPORT

Control of exposure and concentration of


261

Disclosure Rupiah Maturity Profile - Bank

Pos-Pos

Periode Tanggal Laporan Jatuh Tempo

Saldo >1 Bln

1
3
6
> 12 bulan

dalam ribuan Rupiah

I

N E RACA

A

A SE T

1

Kas

2


3


4

Surat Berharga **) (Repo)

5

Kredit Yang Diberikan

6

Tagihan Lainnya

7

Lain-lain Total Aset

Kilas Kinerja 2016

REPORT

2016 ANNUAL

0

0

0

1.396

1.396

0

0

0

0

751

751

0

0

0

0

756

276

287

0

192

0

8.120

114

357

824

1.130

5.694

3

0

3

0

0

0

86

1

15

36

4

29

11.140

2.567

662

861

1.326

5.723

9.071

7.358

1.379

56

278

0

1

Dana Pihak Ketiga

2

Kewajiban kepada Bank Indonesia

0

0

0

0

0

0

3

Kewajiban kepada bank lain

4

0

0

0

4

0

4

Surat Berharga yang Diterbitkan

0

0

0

0

0

0

5

Pinjaman yang Diterima

0

0

0

0

0

0

6

Kewajiban Lainnya

3

0

3

0

0

0

7

Lain-lain

160

43

7

7

43

60

9.238

7.401

1.390

63

325

60

Total Kewajiban

SE L I SI H A SE T D E N G A N KE WA J IB A N DA LA M N ER AC A Selisih Aset dengan Kewajiban dalam Neraca

1.902

-4.833

-727

798

1.001

5.663

II

R E K E N I N G AD M I N I S T R AT IF

A

TAG I H A N RE KE N I N G A DM I N ISTR ATIF

1

Komitmen

0

0

0

0

0

0

2

Kontijensi *****)

0

0

0

0

0

0

Total Tagihan Rekening Administratif

0

0

0

0

0

0

844

35

155

123

357

173

5

5

0

0

0

0

850

41

155

123

357

173

B

K E WA J I B A N RE KE N I N G A D MIN ISTR ATIF

1

Komitmen

2

Kontijensi ******) Total Kewajiban Rekening Administratif

C

S E L I SI H TAG I H A N DA N KE WA J IB A N DA LA M R EK EN IN G A DMIN ISTR ATIF Selisih Tagihan & Kewajiban dalam Rekening Administratif Selisih (1A-1B)+(IIA-IIB)

262

0

K E WA J I B A N

C


29

B

Laporan Manajemen

Profil Perusahaan

29

-850

-41

-155

-123

-357

-173

1.052

-4.874

-882

674

644

5.490

Saldo

Periode Tanggal Laporan Tahun Sebelumnya Jatuh Tempo >1 Bln

1 < bulan < 3

3 < bulan < 6

6 < bulan < 12

> 12 bulan

21

0

0

0

0

665

0

0

0

0

238

0

0

0

0

0

136

0

44

479

59

194

521

1.037

4.157

0

4

0

0

0

183

13

2

9

23

1.166

348

523

1.090

4.660

4.921

1.143

305

98

0

0

0

0

0

0

4

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

4

0

0

0

44

8

8

8

53

0

4.969

1.154

313

106

53

0

-3.803

-807

210

983

4.606

0





428

32

72

8

1

0

0

0

0

114

173

428

32

73

0

-114.

-173

-428

-32

-73

0

-3.918

-979

-217

951

4.534

2016

172

ANNUAL REPORT

107

263

Disclosure Currency Maturity Profile - Bank Periode Tanggal Laporan Jatuh Tempo

Saldo

Pos-Pos

>1 Bln

1
3
6
> 12 bulan

dalam ribuan Rupiah

Kilas Kinerja 2016

I

N E RACA

A

A SE T

1

Kas

2

27

27


17.514

17.514

0

0

0

0

3


95.453

95.453

0

0

0

0

4

Surat Berharga **) (Repo)

11.950

0

0

0

11.950

0

5

Kredit Yang Diberikan

59.575

0

0

16.814

42.762

0

6

Tagihan Lainnya

86.695

0

86.695

0

0

0

7

Lain-lain

135

0

135

0

0

0

Total Aset

293

114

1

0

13

161

152.886

145.759

6.992

135

0

0

B

KE WA J I BA N

1

Dana Pihak Ketiga

2

Kewajiban kepada Bank Indonesia

0

0

0

0

0

0

3

Kewajiban kepada bank lain

0

0

0

0

0

0

4

Surat Berharga yang Diterbitkan

0

0

0

0

0

0

5

Pinjaman yang Diterima

0

0

0

0

0

0

6

Kewajiban Lainnya

86.695

0

86.695

0

0

0

7

Lain-lain

27

27

0

0

0

0

239.608

145.786

93.688

135

0

0

-93.687

-135

13

161

Laporan Manajemen

Total Kewajiban C

Profil Perusahaan


S E L I SI H A SE T D E N G A N KE WA J IB A N DA LA M N ER AC A Selisih Aset dengan Kewajiban dalam Neraca

-239.316

-145.672

II

R E K E N I N G AD M I N I ST RAT IF

A

TAG I H A N RE KE N I N G A DM I N ISTR ATIF

1

Komitmen

2

Kontijensi *****)

REPORT

2016 ANNUAL

Total Tagihan Rekening Administratif B

K E WA J I B A N RE KE N I N G A D MIN ISTR ATIF

1

Komitmen

2

Kontijensi ******) Total Kewajiban Rekening Administratif

C

0

27.457

0

33.789

0

0

0

0

0

0

0

61.246

0

27.457

0

33.789

0

SE L I SI H TAG I H A N DA N KE WA J IB A N DA LA M R EK EN IN G A DMIN ISTR ATIF Selisih Tagihan & Kewajiban dalam Rekening Administratif Selisih (1A-1B)+(IIA-IIB)

264

61.246

-61.246

0

-27.457

0

-33.789

0

-300.562

-145.672

-121.144

-135

-33.776

161

Saldo

Periode Tanggal Laporan Tahun Sebelumnya Jatuh Tempo >1 Bln

1 < bulan < 3

3 < bulan < 6

6 < bulan < 12

> 12 bulan

2

30

44

0

44

23

0 27 350 23

0 0

0

378

163

143

45

44

21 Business Supporting Unit

0 0

163

164

0

215

-164

0

44


23 CORPORATE GOVERNANCE


20

0

3

10

1

0

1

0

0

-1

0

42

23

0

215

-164

2016

22

ANNUAL REPORT

21

265

The monitoring results and liquidity position by

adjustments in a timely fashion to the strategy

the Treasury Section is presented in periodic

of liquidity management in the Meeting ALCO

reports submitted to the Board of Directors

for approval of follow-up controls in the form

and Board of Commissioners. Against the

of prevention and / or effective remedy in the

monitoring results are an indication of liquidity

corridor of prudence in banking (prudential

risk Potentially Increased, Section Treasury

banking).

recommend mitigating risk exposure and / or

Legal Risk Legal risk management and control is done

2. Developing a culture of compliance, litigious

through:

culture and awareness of legal risks among all

1. Periodic reviews of contacts and agreements

employees at every level of the organization

between the Bank and other parties.

on an ongoing basis.

Strategic Risk Kilas Kinerja 2016

Laporan Manajemen

Main objective of Risk Management for Strategic

process of the strategic plan and a business plan.

Risk is minimize the possible negative impact

It aims to monitor the realization compared with

of inaccuracy strategic decision making and

the target to be achieved and ensure that the

failure to anticipate changes in the business

risks taken are still within tolerable limits.

environment. Strategic risk management and control is done by carrying out the control

Profil Perusahaan


Compliance Risk Banking is an industry that is higly regulated,

useful for mitigating the risks of non-compliance

so that the Company continuously monitoring

or non-realization of legislation and regulations,

for compliance with the provisions issued by

by ensuring compliance with regulatory rules,

Bank Indonesia and other regulatory agencies.

regulations and other rules.

Regulator sanctions against violations of the sanctions / fines / penalties, up to revocation REPORT

2016 ANNUAL

provisions referred to vary from reprimands, of licenses. Compliance management activities carried out on all areas of lending and nonlending according to applicable regulations. Compliance risk management and control is

Reputation Risk Reputational risk caused by publikas negative and inaccurate information related to the perception of the customer and adequate information disclosure.

266

risk management policy Completion of the policies and guidelines

profile. The Company will also be documented

for risk management in any business activity

separately clients including PEP (Politically

conducted on an ongoing basis the Company

Exposed Person). Risk Based Approach

made to accommodate changes in risk exposure

business processes are summarized in the

is managed and regulation. In order to prevent,

Company’s Code of APU and PPT related to the

and as a means or a target of crime, particularly

implementation of APU-PPT.

money laundering and the financing of terrorism as well as to meet the regulations of Bank

In connection with the fraud control system,

Indonesia and the Financial Services Authority,

the Company has conducted fraud control

the Company has developed a methodology or

in accordance with the provisions and the

approach that aims to classify customers based

Company’s internal control procedures where

on the level of risk of possible money laundering

special attention is given to the settlement

or financing terrorism (Risk Based Approach).

of cases of fraud that occurred to show the

Risk identification process is done by determining

Company’s management intolerance against

the risk characteristics inherent to each customer

fraud. In order to meet regulations of Bank

by analyzing the risk parameters, namely

Indonesia in BI Circular Letter No.13 / 28

the identity of customers, business location,

/ DPNP / 2011 on the Anti-Fraud Strategy

customer profile, business activities, ownership

Implementation for Commercial Bank stating

structure for the customers of the company, the

that the bank must have and report anti-fraud

number of transactions, and other information

strategy, the Company has issued Guideline Anti-

that can be used to measure the level of customer

Fraud Strategy Implementation.

risk.



The identification and measurement results will produce customers’ risk profiles mandatory

CORPORATE

follow-up monitoring and control of each risk

GOVERNANCE

risk profile


Indonesia, the Company’s risk management for

Risk Profile is based on a comprehensive and

eight types of risk are credit risk, market risk,

structured analysis of:

liquidity risk and operational risk, legal risk,

1. Risks inherent in the business of the Company

reputation risk, strategic risk and compliance risk.

(inherent risk) 2. Quality Risk Management application that reflects the assessment of the adequacy of

Implementation of 8 (eight) risks were reflected

2016

Assessment / measurement of the Corporate

ANNUAL REPORT

In accordance with the provisions of Bank

control systems Risks.

in the consolidated risk profile. The combined results obtained level Composite Risk Profile, which describes the level of the risk profile of the Company as a whole.

267

Process of risk profile assessment requires the Company to determine: 1. The level of inherent risk (inherent risk) with

2. The adequacy of risk monitoring system (risk

products and functional activities of banks,

control system) were used to measure and

such as credit, market, liquidity, operational,

monitor the risks the bank, divided into tiers:

legal, strategic, reputation and compliance.

• Strong,

Inherent Risk categorized into five risk rating:

• Satisfactory,

• Low,

• Fair,

• Low to Moderate,

• Marginal dan

• Moderate,

• Unsatisfactory.

• Moderate to High dan • High.

hr development in risk management To runs its positions, in 2016, the Company had trained and certified Risk Management to alal required employees, as follows: risk management certification level Kilas Kinerja 2016

Laporan Manajemen

Profil Perusahaan

total passed employees

Level 1

31

Level 2

0

Level 3

0

Level 4

2

Total

33

risk profile rating Below is Risk Profile of 4th Quarter for the last 3 (three) years:

REPORT

2016 ANNUAL


rating

2014

3

2015

2

a significant change in the rating of the Bank HEALTHY on 2

2016

2

ratings.

Prudential Meeting FSA on March 8, 2016, the Risk Profile ranked fourth quarter 2016 to 3. This change does not cause

risk management work program The work program and the implementation of

Control Self Assessment (RCSA) and Loss

risk management for the year 2016 is to socialize

Database Management (LDM) online to improve

the means of measuring risk to those units either

risk awareness culture throughout the BRI Agro

in branches or disatuan head office, such as the

Workers. Automating the risk measurement tools

socialization of credit risk measurement (credit

that facilitate users in performing measurements

scoring and credit risk rating) and socialization

and the resulting data will be more accurate.

measurement of operational risk and Risk

268

ased on the results of the meeting between the Company and

year

fund providence to related parties and big fund providence Provision of funds to related parties and large

The Company has had a policy for the provision

exposures decided by the Board of Directors

of funds to related parties which have been

independently without intervention from related

adapted to the BI Regulations governing Lending

parties and other parties.

Limit (LLL) and have applied the precautionary principle through the deployment / portfolio

In the provision of funds to related parties and

diversification on the supply of funds that have

large exposures, the Company has always been:

been granted, so there is no infringement and or

1. Applying the precautionary principle and

overrun LLL on the provision of funds to related

comply with the statutory provisions.

parties (related party) as well as the provision of

2. Monitoring the number of loans per borrower

substantial funds (large exposure).

or per debtors group. 3. Noting the deployment / portfolio

The following total debit balance the provision

diversification fund providers.

of funds to related parties and large exposures

4. Reported large exposures, per debtor and

position in December 2016.

per borrower group, regularly to the Board of Commissioners as a means of monitoring.

fund providence To related aprties

debtor

total

4

Rp8.623.637.572

1. Individual

15

Rp2.010.933.789.517

2. Group

15

Rp1.634.951.337.377


To core Debtors Management Discussion and Analysis



2016

ANNUAL REPORT

269

tax obligatiOn fulfillment Company always carry out tax obligations for the payment of income tax and other tax liabilities.

incompatibility with psak According to a report by the Public Accounting Firm (KAP) Purwantono, Sungkoro & Surja as at February 10, 2017 stating that the Company fulfills the Company’s compliance to the provisions of several articles in Law, Government Regulation (PP), Decree (Decree), and another government regulation.

Kilas Kinerja 2016

ratio of highest and lowest wages

Laporan Manajemen

In determining the amount of wages or remuneration of each worker, the Company always consider matters relating to professional factors, such as: educational background, tenure, class, performance Profil Perusahaan

and career workers. As for other factors such as gender, ethnicity, religion and race into consideration the Company in determining wages. The number of comparisons highest and lowest wages of workers outside the Board of Directors is 19.8: 1.

REPORT

2016 ANNUAL


CONFLICT OF INTEREST TRANSACTIONS There is no conflict of interest transactions during the reporting year as mentioned in the regulations of Bapepam-LK No. IX.E.1 “Conflict of Interest”.

270

fund providence for politicAl activities The Company never provide fund in any kind of form for political interest.

code of ethics The Company also strengthen the implementation of GCG with various guidelines or policies as softGCG in the Company’s structure, among others: 1. Board of Commissioners and Supporting Organization’ Code of Ethics 2. Board of Directors’ Manual 3. Employees Code of Ethics The Company has implemented a code of conduct which applies to all elements of the Company which include; Commissioners, Directors, and the whole Workers. Code of conduct for the Board


of Commissioners is set in the Work Guidelines BOC and Supporting Organizations who passed on November 7, 2013. As for the Board of Directors stipulated in the Guidelines for the Employment of Directors passed on 28 December 2012. Meanwhile, the code of conduct contained in the Full Employment Agreement (CLA), which was passed on March 12, 2012.


To disseminate the Company’s Code of Conduct, then held the Socialization of the application of the code of ethics of the Bank throughout New workers conducted every new worker training.


In case of violation of the Code applies, the enforcement and sanctions for violations of the code of conduct that occurred, carried out with reference to the Decree No. 14/Dir.02.04/MSDM/VII/2012 of the Disciplinary Code and its revisions.


2016

ANNUAL REPORT

271

litigation case and material case Troughout 2016, legal cases that are still on progress in court or has legal decision are as follows:

legal case

civil

criminal

Completec (already has fixed law legal force)

1

1

Cases that are still on completion process

11

0

Total Legal Case

12

1

material case faced by company, subsidiary, members of board of directors and/or commissioners Kilas Kinerja 2016

During 2016 important matters faced by the Company, the Board of Commissioners or Board of Directors are not disclosed in the Financial Report, both of which affect or not affect the objective of Laporan Manajemen

Profil Perusahaan

REPORT

2016 ANNUAL


272

the Company is none.

whistle blowing system To enhance the good relationship that had been forged and get feedback and input from stakeholders in addition to the media website, the Company has also provided a medium for monitoring customer satisfaction, complaints of violations of both written and verbal. The delivery mechanism for reporting complaints can be filed either via Short Message Service (SMS) through a special number that has been provided and in writing in a letter to the special address. Reports submitted the complainant should at least contain information on the reporting of data themselves (name, address, telephone number, fax, e-mail, work units). Any complaints received will be accepted by the Director. As a follow-up mechanism is implemented by way of a complaint is screened beforehand then be handled by the parties responsible for the Company’s internal, which will be based on the Board’s decision. Each reporter will be protected confidentiality and keamanananya by the Company, in accordance with the internal rules of the Company’s number No. Kpts. 01 / Dir.02.04 / SKAI / VI / 2012 dated June 4, 2012. The company already has provisions regarding admission procedures, penanganaan and Customer complaints resolution in accordance with the laws of the Republic of Indonesia Number 14 of 2008 on Public Information, the Company opened a guest book that can be accessed on the website www.


briagro.co.id or also through the Stock Exchange Indonesia provided in www.IDX.co.id The number of complaints received, acted upon and completed during 2016 are as follows:

complaint

followed up

completed

2.103

0

2.103




2016

ANNUAL REPORT

273

access of information company’s commitment on services to customers To improve good relaitonship that have been

The Company has provisions concerning

maintained and to get feedback as well as input

rpocedure of acceptance, handling and

from stakeholders other than through website

settlement of Customer complaint based on

media, the Company also provides media

constitutions of Republic of Indonesia Number

to monitor customer satisfaction, customer

14 year 2008 concerning Public Information

complaints both written and spoken.

Disclosure then the Company has guest book that can be accessed on website www.briagro.co.id or through Indonesia Stock Exchange that can be accessed on www.IDX.co.id.

information dissemination media

Kilas Kinerja 2016

One of the principles of good corporate

information disclosure to the public. The

governance is transparency. Among other

information is also kept updated regularly so that

forms of transparency is transparency in

the public always receive the latest information

conveying accurate information of the Company,

regarding the Company.

recorded, processed and summarized in a report

Laporan Manajemen

Profil Perusahaan

within a specified period in accordance with

In addition, the Company also deliver information

the provisions of the applicable information

to all employees in the form of a press release

disclosure. The company presented a number

through internal magazines, internal memos

of important information that can be used

and internal email. This is done to ensure

by stakeholders to analyze the Company’s

equality in the dissemination of information to

performance as the position, condition,

all stakeholders. In addition to announcing the

performance and financial outlook provided in

information, the Company also uses the media or

the Annual Report, Financial Periodic Reports,

other means such as employee gatherings, work

and Interim as well as press releases and other

meetings and a national coordination meeting.


information management REPORT

2016 ANNUAL

The Company ensures characteristic of date, information and organization knowledge as follows:

carried out by the finance department to

1. To ensure the accuracy of data and

review the accuracy of the information data

information, the Company uses software

and also conducted an internal assessment

applications and appointing those responsible

and IT audit annually.

for the unit in charge of maintaining the

4. To ensure the security and confidentiality

accuracy of the data and information in their

of data and information, then created a user

respective units.

name, password and network anti-virus in the

2. To ensure the integrity and reliability is based on the results of the verification performed by each unit of work in the Company.

274

3. To ensure timely data and information,

Company’s access to the LAN network.

availability of data and information The company provides availability of data and information based on the data center that can be accessed by aall Company’s employees. The Company also provides data and information via website, webmail that can be accessed by interested parties eg customers, partners, and public. Media and mechanisms used in data access and information is as follows: USER

Media

available content

Employee

Website, Intranet, Email, Letter, Fax, Phone

Network, Data Center, Vision Mission, Organization Structure, Company’s Profile, Business Field

Partner

Website, Meeting, Email, Letter, Fax, Phone

Contact Us/Customer Service,Organization Structure, Company’s Profile, Product and Service, Business Field

Client/Customer


Contact Us/Customer Service,Organization Structure, Company’s Profile, Product and Service, Business Field

Supplier


Contact Us/Customer Service,Struktur Organisasi, Profil Perseroan, Produk dan Jasa, Bidang Usaha

Moreover, all stakeholders can contact to Comapny’s contact address as follows:



HEAD OFFICE BRI Agro Building Jl. Warung Jati Barat No. 139 Telp. 62 21 7919 9980


62 21 8066 7600

Faks. 62 21 7919 9950 www.briagro.co.id Address, phone number and fax of Branch Office for other region all over Indonesia, available on the


attachement of this Annual Report.

2016

ANNUAL REPORT

275

CORPORATE SOCIAL AND ENVIRONMENTAL RESPONSIBILITY

Social responsibility of the Company as a member

The Company is aware that its sustainability

of the society is implemented consistently

is inseparable from external factors such as

through Corporate Social Responsibility (CSR)

the society and the environment. Therefore,

which exhibits the Company’s vision as a leading

the Company is also committed to fulfilling

commercial bank that focuses on agriculture in

its social responsibility to the society and the

support of Indonesian agribusiness development.

environment. The Company has a strong belief that synergy between CSR activities and business

The CSR activities are aimed at achieving

performance is pivotal to achieving sustainable

sustainable Company growth through a series

growth. In practice, the Company ensures that all

of actions contributing to national improvement

stakeholders involved can receive benefits from

as a whole. In its implementation, each category

every operational activity of the Company.

shall follow the principles of sustainability (triple

In general, the CSR is implemented in several

bottom line): People, Planet and Profit (3P).

activities targeting stakeholders with different goals as follows: 1. Environmental protection 2. Good employment and OHS practices 3. Community Development 4. Customer Protection

Kilas Kinerja 2016

Laporan Manajemen

Profil Perusahaan


Legal Bases The Company employs a strategic policy in

Reporting of CSR implementation by public

CSR implementation in order to promote a

company has also been regulated by the

conducive and sustainable business climate. CSR

Bapepam-LK through the Bapepam Regulation

is implemented in accordance with a provision in

No. X.K.6 on Submission of Annual Report by

the Law No. 25 of 2007 on Investment, Article 15

Issuer or Public Company. The regulation serves

letter b which states “Every investor is obliged to

as a legal basis as well as a guideline for the

implement corporate social responsibility”.

Company in organizing its forms of good and equitable corporate social responsibility in all

REPORT

2016 ANNUAL

aspects.

CSR BUDGET IN 2016 Budget spent for CSR activities in 2016 is broken down as follows:

Aspect

Budget 2016

Social

Rp31.900.000,00

Religious

Rp232.631.120,00

Education

Rp53.553.000,00

Humanity

Rp22.975.000,00

Sports Total

278

Rp3.292.500,00 Rp344.351.620,00

Corporate Social Responsibility on Environment Although the Company is not involved in industrial type of business whose primary activity is production, it is committed to participating in environmental conservation starting from reduction of paper usage by developing an electronic office system (e-office) where internal communication previously using paper as a medium is now using an electronic system.

Corporate Social Responsibility on Employment and Occupational Health and Safety As company assets that must be protected,

To ensure the welfare of every employee,

employees get the Company’s attention through

permanent or otherwise, the Company has

assurance in the process of recruitment, welfare,

adjusted salaries and benefits according to

and capacity development.

applicable rules and regulations.

The Company ensures there is no treatment

Types of salary and benefit received by

that leads to discrimination based on gender,

Permanent and Non-Permanent Employees are

race, religion, and ethnicity throughout the

shown in the following table:



recruitment process. Non-Permanent Employee

Base Salary

Given

Given

Health Benefits

Given

Given

Life Insurance

Given

Given/Not Given*

Occupational Accident Benefits

Given

Given

Maternity Benefits

Given

Not Given

Pension Benefits

Given

Not Given

Stock Option

Given

Not Given

* Life insurance is only given to non-permanent employees at Manager Level and above.



2016

Permanent Employee

ANNUAL REPORT

Type of Remuneration

279

To increase employees’ capacity, the Company

As a financial institution, the Company also

also has organized education and training

understands that its routine business activities

programs for employees. It is reflected in the

are vulnerable to risks relating to employee

training/education events held in 2016 which

safety. One of the risks that can arise is

totaled 166, attended by 2,405 participants. The

occurrence of fire. Therefore, in order to improve

budget spent on education and training activities

knowledge of office building protection and

in 2016 was Rp4,614,728,293.02. It is lower than

prevention against fire hazards, it held “Training

that of 2015 which was Rp5,248,910,316.00 for

of Fire Protection and Building Security”

the following reasons:

organized by TP2KI (The Indonesian Training

1. Unmet educational and training schedule as

Team for Knowledge on Fire Hazards) on 16

per the Educational Calendar 2016, which

June 2016, covering the topics of fire prevention,

was due to unsuitable timing for some Work

fire fighting and saving lives from fire and other

Units,

disasters.

2. Cost savings in Education and Training courses originally planned to be implemented in partnership with external parties, but considering effectiveness and efficiency, they were implemented internally or in Kilas Kinerja 2016

collaboration with BRI, 3. Some training originally planned to be implemented through an in-class / faceto-face method was instead implemented

Laporan Manajemen

through e-learning/distance learning, 4. Implementation of the FPK (Performance Improvement Forum) in 2016 was not done because its form is still being defined to be

Profil Perusahaan

more appropriate in supporting performance improvement of the Bank.

REPORT

2016 ANNUAL


280

On December 15, 2016, BRI Agro held a fire fighting training, as a measure of the BCP (Business Continuity Planning), meant that the BRI Agro ready to face the threats that could happen at any time.

Corporate Social Responsibility on Social and Community Development The Company contributes to social development through community development. In regard to community development, the Company focuses its support on social, religious, humanitarian and sport activities. The community development activities are carried out in the BRI Agro Head Office, all Branch Offices and Sub-Branch Offices involving BRI Agro employees as volunteers in the activities. Since 2010, BRI Agro has been maintaining a joint account between the company and employees specifically used for social care activities under the name of BRI Agro Peduli. BRI Agro Peduli is managed by the HR Division of BRI Agro.

Donations for Orphans in Asmuriyah Foundation and Alhairiah Foundantion





2016

ANNUAL REPORT

281

Kilas Kinerja 2016

Handing over of Sacrificed Animals in Bantar Gebang area represented by Mr. Hirawan Nur K. as Head of the Corporate Secretary Division.

Laporan Manajemen

Profil Perusahaan

REPORT

2016 ANNUAL


282

BRI Agro was in synergy with the parent company Bank BRI and BRI Syariah in the annual event of Bank BRI namely “Mudik Bareng” (Returning to Hometown Together).

Corporate Social Responsibility to Customers The Company takes care of customers’ interests

Customer Complaints throughout 2016 were

by developing a structure of customer protection

handled and resolved in a timely manner, in line

in accordance with provisions in the Bank

with the Company’s procedure that all customer

Indonesia Regulation (PBI) No. 7/6/PBI/2005

complaints must be settled no longer than 20

on Transparency of Banking Products and Use

working days, with an extension period of 20

of Customer Personal Data, the Bank Indonesia

working days.

Regulation No.7/7/PBI/2005 on settlement of Customer Complaints, and the Bank Indonesia

Customer complaints received in 2016 totaled

Regulation No.10/1/ PBI/2006 on Banking

2,103 (decreased from 3,014 complaints in

Mediation. It is done through application of the

2015 ) and all of them were settled within 20

system of product information transparency and

working days. Furthermore, in 2016 there was

formation of a structure to handle and settle

no customer complaint resolved through banking

customer complaints up to the stage of banking

mediation.

mediation. Transparency of banking products is done by providing customers written information on product characteristics (benefits and risks inherent in a product, requirements and

Business Unit Pendukung SupportingBisnis Unit

procedures for using a product and charges applied to a Checking, Saving, Deposit, Transfer product and others) in the forms of brochures, presenting product characteristics in the product application/form, as well as placement of

Management Analisa dan Discussion Pembahasan and Manajemen Analysis

customer information in bulletin boards at every work unit. Corporate Governance


2016

ANNUAL REPORT

283

PUBLIC EDUCATION ON BANKING

The team of Bank BRI AGRO and BRI Group in the World Food Day event held by the government on 28 - 30 October 2016 in Boyolali Town Square, which was also attended by President Joko Widodo, the Minister of Agriculture, and the Governor of Central Java.

Kilas Kinerja 2016

Laporan Manajemen

Profil Perusahaan

REPORT

2016 ANNUAL


284

In 2016, BRI Agro conducted educational activities for general public in collaboration with a school by providing education on savings (Banking for Kids) to pre-school children (Kindergarten A/B). The activities were carried out at the BRI Agro Kelapa Gading Branch Office to give children opportunity to perform banking transactions by themselves under the supervision of the school teachers and employees of BRI Agro.

On October 30, 2016, BRI Agro held a Bocah Cilik Festival. The event was meant to start introducing the savings in banks at an early age.

Director of BRI AGro, Mr. Mustari Damopolii accompanying OJK officers in the Public Financial Inclusion event initiated by OJK in Wonosari Town Square, Gunungkidul, Yogyakarta on 15 Oktober 2016. BRI Agro participated in the event together with Bank BRI and the BRI Group (BRI Syariah, BRI Life and BRI Finance). The financial inclusion event participated by the BRI Group and other financial institutions was also held in Jayapura, Papua on 22 October 2016 and Palembang on 29 October 2016.





2016

ANNUAL REPORT

285

Consolidated Financial Statements

PT Bank Rakyat Indonesia Agroniaga Tbk Laporan keuangan tanggal 31 Desember 2016 dan untuk tahun yang berakhir pada tanggal tersebut beserta laporan auditor independen/ Financial statements as of December 31, 2016 and for the year then ended with independent auditors’ report

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

PT BANK RAKYAT INDONESIA AGRONIAGA Tbk LAPORAN KEUANGAN TANGGAL 31 DESEMBER 2016 DAN UNTUK TAHUN YANG BERAKHIR PADA TANGGAL TERSEBUT BESERTA LAPORAN AUDITOR INDEPENDEN

Daftar Isi

PT BANK RAKYAT INDONESIA AGRONIAGA Tbk FINANCIAL STATEMENTS AS OF DECEMBER 31, 2016 AND FOR THE YEAR THEN ENDED WITH INDEPENDENT AUDITORS’ REPORT

Table of Contents

Halaman/ Pages

Laporan Auditor Independen

Independent Auditors’ Report

Laporan Posisi Keuangan ................................................

1-2

................................... Statement of Financial Position

Laporan Laba Rugi dan Penghasilan Komprehensif Lain ....................................................

3-4

Statement of Profit or Loss and Other ........................................ Comprehensive Income

Laporan Perubahan Ekuitas.............................................

5

.................................. Statement of Changes in Equity

Laporan Arus Kas ............................................................

6-7

............................................. Statement of Cash Flows

Catatan Atas Laporan Keuangan ..................................... 8 - 150 ............................... Notes to the Financial Statements

***************************


PT BANK RAKYAT INDONESIA AGRONIAGA Tbk LAPORAN POSISI KEUANGAN Tanggal 31 Desember 2016 (Disajikan dalam ribuan Rupiah, kecuali dinyatakan lain)

31 Desember/ December 31, 2016

PT BANK RAKYAT INDONESIA AGRONIAGA Tbk STATEMENT OF FINANCIAL POSITION As of December 31, 2016 (Expressed in thousands of Rupiah, unless otherwise stated)

Catatan/ Notes


ASET Kas Giro pada Bank Indonesia

Giro pada bank lain Penempatan pada Bank Indonesia dan bank lain

Efek-efek Kredit yang diberikan Cadangan kerugian penurunan nilai

ASSETS 28.654.362

21.344.659

Cash

2a,2b,2e,2v,4

591.846.039

Current accounts with Bank Indonesia

106.816.301

2a,2b,2c,2d, 2e,2v,5,30

378.230.209

Current accounts with other banks

1.116.916.250

2a,2b,2c,2d, 2f,6,30

459.951.160


767.591.500

2b,2c,2d, 2g,2v,7,30

682.002.293

Securities

8.179.753.799 (239.924.900)

2b,2c,2d, 2h,2v,8,30

6.044.521.633 (131.831.158)

1.036.528.822

2a,2b,2v,3

7.939.828.899

Tagihan akseptasi

89.739.471

Penyertaan saham

297.658

Aset tetap Biaya perolehan Akumulasi penyusutan

Aset pajak tangguhan Agunan yang diambil alih Cadangan kerugian penurunan nilai

5.912.690.475

2b,2d,2i,2v,9 2b,2d,2j, 10

TOTAL ASET

Acceptances receivable

297.658

Investment in shares of stocks

2k,2l,11 295.596.179 (58.557.844)

241.947.944

237.038.335

379.971 (197.596)

2w,19c 2l,2m, 12

182.375

Biaya dibayar dimuka dan aset lain-lain

27.533.167

309.206.641 (67.258.697)

20.445.671

29.011.468

Loans Allowance for impairment losses

22.257.562 612.748 (313.723)

Premises and equipment Cost Accumulated depreciation

Deferred tax assets Foreclosed collaterals Allowance for impairment losses

299.025

2b,2l,2n, 2v,13

11.377.960.721

31.011.981

Prepaid expenses and other assets

8.364.502.563

TOTAL ASSETS

The accompanying notes to the financial statements form an integral part of these financial statements.

Catatan atas laporan keuangan terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan secara keseluruhan.

1


PT BANK RAKYAT INDONESIA AGRONIAGA Tbk LAPORAN POSISI KEUANGAN (lanjutan) Tanggal 31 Desember 2016 (Disajikan dalam ribuan Rupiah, kecuali dinyatakan lain)


PT BANK RAKYAT INDONESIA AGRONIAGA Tbk STATEMENT OF FINANCIAL POSITION (continued) As of December 31, 2016 (Expressed in thousands of Rupiah, unless otherwise stated)

Catatan/ Notes


LIABILITAS DAN EKUITAS

LIABILITIES AND EQUITY

LIABILITAS Liabilitas segera

LIABILITIES 10.404.947

2b,2o,14

19.362.789


679.846.697 461.123.290 8.082.808.516

2b,2c,2p, 2v,30 15 16 17

456.347.756 451.827.362 5.953.876.062

Deposits from customers Demand deposits Saving deposits Time deposits

3.714.202

2b,2p,18

3.889.698

Deposits from other banks

89.739.471

2b,2i,2v,9

27.533.167

Acceptances payable

8.084.117

2w,19a

10.426.550

Taxes payable

Liabilitas diestimasi atas imbalan kerja

37.721.604

2c,2t, 20,30

29.377.357

Estimated liabilities for employee benefits

Liabilitas lain-lain

68.266.337

2b,2q,2v,21

59.449.397

Other liabilities

7.012.090.138

Total Liabilities

Simpanan nasabah Giro Tabungan Deposito berjangka Simpanan dari bank lain Liabilitas akseptasi Utang pajak

Total Liabilitas

9.441.709.181

EKUITAS Modal saham - nilai nominal Rp100 (Rupiah penuh) per lembar saham Modal dasar - 25.000.000.000 lembar saham Modal ditempatkan dan disetor penuh - 15.325.711.820 lembar saham pada tanggal 31 Desember 2016 dan 11.479.715.698 lembar saham pada tanggal 31 Desember 2015 Tambahan modal disetor Kerugian yang belum direalisasi atas efek-efek yang tersedia untuk dijual - setelah pajak tangguhan Kerugian pengukuran kembali program imbalan pasti - setelah pajak tangguhan Saldo laba Telah ditentukan penggunaannya: Cadangan khusus Cadangan umum Belum ditentukan penggunaannya Ekuitas - Neto TOTAL LIABILITAS DAN EKUITAS

EQUITY

Share capital - par value of Rp100 (full Rupiah) per share Authorized capital 25,000,000,000 shares

1.532.571.182 190.128.032

(25.541.975)

(331.661)

1,22 22

2g

2t,20

1.147.971.570

Issued and fully paid capital 15,325,711,820 shares as of December 31, 2016 and 11,479,715,698 shares as of December 31, 2015

75.915.828


(22.727.337)

Unrealized loss on available-for-sale securities net of deferred tax

(785.868)

Loss on remeasurement of defined benefit plan - net of deferred tax

116.559 3.337.890 148.583.783

Retained earnings Appropriated: Specific reserve General reserve Unappropriated

1.936.251.540

1.352.412.425

Equity - Net

11.377.960.721

8.364.502.563

TOTAL LIABILITIES AND EQUITY

116.559 5.752.647 233.556.756

22 22



2


PT BANK RAKYAT INDONESIA AGRONIAGA Tbk LAPORAN LABA RUGI DAN PENGHASILAN KOMPREHENSIF LAIN Untuk Tahun yang Berakhir pada Tanggal 31 Desember 2016 (Disajikan dalam ribuan Rupiah, kecuali dinyatakan lain)

PT BANK RAKYAT INDONESIA AGRONIAGA Tbk STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME For the Year Ended December 31, 2016 (Expressed in thousands of Rupiah, unless otherwise stated)

Tahun yang Berakhir pada Tanggal 31 Desember/ Year Ended December 31 2016 PENDAPATAN DAN BEBAN OPERASIONAL Pendapatan bunga Beban bunga Pendapatan Bunga - Neto Pendapatan Operasional Lainnya Keuntungan dari penjualan efek-efek - neto Penerimaan kembali aset keuangan yang telah dihapusbukukan Jasa administrasi Provisi dan komisi lainnya Keuntungan yang belum direalisasi dari perubahan nilai wajar efek-efek - neto Keuntungan transaksi mata uang asing - neto Lain-lain Total Pendapatan Operasional Lainnya Penyisihan Kerugian Penurunan Nilai

965.085.260 (543.413.124)

Catatan/ Notes

2r,23 2r,24

421.672.136

2015

786.709.562 (430.938.429) 355.771.133

INCOME AND EXPENSES FROM OPERATIONS Interest income Interest expense Interest Income - Net Other Operating Income

33.030.898

2g,7i

23.228.577

Gain on sale of securities - net

20.459.802 8.799.682 4.103.974

2d

7.979.339 7.709.677 4.258.745

Recovery of financial assets written-off Administrative services Other fees and commissions

3.300.000

2g,7g

999.711

2s

2v

70.694.067

9.227.415 2.827.932 55.231.685 (104.110.644)

Unrealized gain on changes in fair value of securities - net Gain on foreign currencies transactions - net Others Total Other Operating Income Provision For Impairment Losses

(135.190.622)

2d,2l,25

Gaji dan tunjangan Umum dan administrasi Kerugian transaksi mata uang asing - neto Provisi dan komisi Kerugian yang belum direalisasi dari perubahan nilai wajar efek-efek - neto Lain-lain

(142.166.910) (81.322.747)

2c,2t,20, 26,30 2k,27

Total Beban Operasional Lainnya

(228.668.758)

(211.198.040)

128.506.823

95.694.134

OPERATING INCOME

15.101.134

NON-OPERATING INCOME - NET

110.795.268

INCOME BEFORE TAX EXPENSE

Beban Operasional Lainnya

LABA OPERASIONAL PENDAPATAN NON-OPERASIONAL - NETO

Other Operating Expenses

(2.403.456) (1.569.540)

2v

(2.038.013)

Salaries and allowances General and administrative Loss on foreign currencies transactions - net Fees and commissions

(1.206.105)

2g,7h

(4.066.328) (1.118.578)

Unrealized loss on changes in fair value of securities - net Others

12.758.689

LABA SEBELUM BEBAN PAJAK

141.265.512

BEBAN PAJAK

(38.262.360)

LABA TAHUN BERJALAN

103.003.152

28

2w,19b

(122.368.410) (81.606.711)

(30.303.388) 80.491.880

Total Other Operating Expenses

TAX EXPENSE INCOME FOR THE YEAR



3


PT BANK RAKYAT INDONESIA AGRONIAGA Tbk LAPORAN LABA RUGI DAN PENGHASILAN KOMPREHENSIF LAIN (lanjutan) Untuk Tahun yang Berakhir pada Tanggal 31 Desember 2016 (Disajikan dalam ribuan Rupiah, kecuali dinyatakan lain)

PT BANK RAKYAT INDONESIA AGRONIAGA Tbk STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME (continued) For the Year Ended December 31, 2016 (Expressed in thousands of Rupiah, unless otherwise stated)

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

2016 PENGHASILAN KOMPREHENSIF LAINNYA Akun yang tidak akan direklasifikasi ke laba rugi Pengukuran kembali atas program imbalan pasti Pajak penghasilan terkait akun-akun yang tidak akan direklasifikasi ke laba rugi Akun yang akan direklasifikasi ke laba rugi Kerugian yang belum direalisasi atas efek-efek yang tersedia untuk dijual Pajak penghasilan terkait akun-akun yang akan direklasifikasi ke laba rugi KERUGIAN KOMPREHENSIF LAIN TAHUN BERJALAN SETELAH PAJAK TOTAL PENGHASILAN KOMPREHENSIF TAHUN BERJALAN LABA TAHUN BERJALAN PER SAHAM Dasar (dalam Rupiah penuh) Dilusian (dalam Rupiah penuh)

605.609

2015

(3.694.317)

(151.402)

923.579

OTHER COMPREHENSIVE INCOME Item that will not be reclassified to profit or loss Remeasurement on defined benefit plan Income tax related to items not to be reclassified to profit or loss Item that will be reclassified to profit or loss

(3.752.851)

(20.807.687)

938.213

5.201.922

(2.360.431)

100.642.721

Unrealized loss on availablefor-sale securities Income tax related to items to be reclassified to profit or loss

(18.376.503)

OTHER COMPREHENSIVE LOSS FOR THE YEAR AFTER TAX

62.115.377

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

8,50 8,50

EARNINGS PER SHARE Basic (in full Rupiah) Diluted (in full Rupiah)

2u,29 8,89 8,67



4


PT BANK RAKYAT INDONESIA AGRONIAGA Tbk LAPORAN PERUBAHAN EKUITAS Untuk Tahun yang Berakhir pada Tanggal 31 Desember 2016 (Disajikan dalam ribuan Rupiah, kecuali dinyatakan lain)

Catatan/ Notes Saldo pada tanggal 31 Desember 2014 Laba tahun berjalan Kerugian komprehensif lainnya

Modal Ditempatkan dan Disetor Penuh/ Issued and Fully Paid Capital

Saldo pada tanggal 31 Desember 2015

Laba tahun berjalan (Kerugian) penghasilan komprehensif lainnya

(7.121.572)

1.984.870

-

-

(15.605.765)

-

-

402.893.452

Saldo pada tanggal 31 Desember 2016

Telah Ditentukan Penggunaannya/ Appropriated Cadangan Khusus/ Specific Reserve

Cadangan Umum/ General Reserve

Belum Ditentukan Penggunaannya/ Unappropriated

EkuitasNeto/ EquityNet

116.559

2.097.868

75.408.037

894.680.862

(2.770.738)

-

-

80.491.880 -

80.491.880 (18.376.503)

(2.770.738)

-

-

80.491.880

62.115.377

Total comprehensive income for the year

-

401.692.298

Shares issuance Distribution of income Dividends Addition to general reserve

-

-

-

-

-

-

-

1.240.022

116.559

3.337.890

148.583.783

75.915.828

(22.727.337)

(785.868)

-

-

(2.814.638)

454.207

-

-

103.003.152 -

103.003.152 (2.360.431)

-

-

(2.814.638)

454.207

-

-

103.003.152

100.642.721

Total comprehensive income for the year

384.599.612

114.212.204

-

-

-

-

-

498.811.816

-

-

-

-

-

2.414.757

(15.615.422) (2.414.757)

Shares issuance Distribution of income Dividends Addition to general reserve

1.532.571.182

190.128.032

116.559

5.752.647

233.556.756

(331.661)


(6.076.112) -

Income for the year Other comprehensive loss

1.147.971.570

(25.541.975)

(6.076.112) (1.240.022)

Balance as of December 31, 2014

-

2g,2t

22 22

(1.201.154)

(15.605.765)

Saldo Laba/Retained Earnings

-

Total penghasilan komprehensif untuk tahun berjalan Penerbitan saham Pembagian laba Dividen Penambahan cadangan umum

Tambahan Modal Disetor/ Additional Paid-in Capital 77.116.982

2g,2t

22 22

Kerugian yang (Kerugian) Belum Direalisasi Keuntungan atas Efek-efek Pengukuran untuk Dijual Kembali yang Tersedia Program untuk Dijual Imbalan Pasti setelah Pajak setelah Pajak Tangguhan/ Tangguhan/ Unrealized (Loss) Gain on Loss on Remeasurement Available-forof Defined Sale Securities Benefit Plan - Net of - Net of Deferred Tax Deferred Tax

745.078.118

Total penghasilan komprehensif untuk tahun berjalan Penerbitan saham Pembagian laba Dividen Penambahan cadangan umum

PT BANK RAKYAT INDONESIA AGRONIAGA Tbk STATEMENT OF CHANGES IN EQUITY For the Year Ended December 31, 2016 (Expressed in thousands of Rupiah, unless otherwise stated)

1.352.412.425

(15.615.422) 1.936.251.540


5


Income for the year Other comprehensive (loss) income



PT BANK RAKYAT INDONESIA AGRONIAGA Tbk LAPORAN ARUS KAS Untuk Tahun yang Berakhir pada Tanggal 31 Desember 2016 (Disajikan dalam ribuan Rupiah, kecuali dinyatakan lain)

PT BANK RAKYAT INDONESIA AGRONIAGA Tbk STATEMENT OF CASH FLOWS For the Year Ended December 31, 2016 (Expressed in thousands of Rupiah, unless otherwise stated)

Tahun yang Berakhir pada Tanggal 31 Desember/ Year Ended December 31 2016 ARUS KAS DARI AKTIVITAS OPERASI Penerimaan bunga, provisi dan komisi Pembayaran bunga, provisi dan komisi Penerimaan kembali aset yang telah dihapusbukukan Pendapatan operasional lainnya Pembayaran pajak penghasilan badan dan angsuran pajak Beban operasional lainnya Pendapatan non operasional - neto Arus kas sebelum perubahan dalam aset dan liabilitas operasi

Catatan/ Notes

2015

965.491.214

789.476.202

(538.727.099)

(422.546.511)

20.542.493 42.827.256

8.999.037 42.993.601

(38.234.596) (200.619.165) 14.100.916

(26.579.889) (211.690.186) 15.903.092

265.381.019

196.555.346

Perubahan dalam aset dan liabilitas operasi: Penurunan (kenaikan) dalam aset operasi: Kredit yang diberikan Efek-efek yang diukur pada nilai wajar melalui laporan laba rugi Aset lain-lain Kenaikan (penurunan) dalam liabilitas operasi: Liabilitas segera Giro Tabungan Deposito Berjangka Simpanan dari bank lain Liabilitas lain-lain Kas Neto Diperoleh dari Aktivitas Operasi ARUS KAS DARI AKTIVITAS INVESTASI (Kenaikan) penurunan efek-efek yang tersedia untuk dijual dan dimiliki hingga jatuh tempo Hasil penjualan aset tetap Perolehan aset tetap Kas Neto Digunakan untuk Aktivitas Investasi

CASH FLOWS FROM OPERATING ACTIVITIES Interest, fees and commissions received Interest, fees and commissions paid Recoveries of financial assets written-off Other operating income Corporate income tax and tax installment paid Other operating expenses Non-operating income - net Cash flows before changes in operating assets and liabilities Changes in operating assets and liabilities:

(131.040.750) (1.030.068)

Decrease (increase) in operating assets: Loans Securities at fair value through profit or loss Other assets

(8.957.842) 223.498.941 9.295.928 2.128.932.454 (175.496) (4.110.755)

5.254.756 101.364.129 143.031.860 1.411.401.725 (160.690.084) 5.211.780

Increase (decrease) in operating liabilities: Liabilities due immediately Demand deposits Savings deposits Time deposits Deposits from other banks Other liabilities

607.108.563

145.953.941

(2.162.436.947)

(1.424.104.753)

149.982.728 5.698.533

(236.024.786) 472.560 (17.209.063)

(194.938.564)

CASH FLOWS FROM INVESTING ACTIVITIES (Increase) decrease in available-for-sale and held-to-maturity securities Proceeds from sale of premises and equipment Acquisition of premises and equipment

(120.294.056)

Net Cash Used in Investing Activities

74.470.493 11 11

(252.761.289)

Net Cash Provided by Operating Activities

174.015



6


PT BANK RAKYAT INDONESIA AGRONIAGA Tbk LAPORAN ARUS KAS (lanjutan) Untuk Tahun yang Berakhir pada Tanggal 31 Desember 2016 (Disajikan dalam ribuan Rupiah, kecuali dinyatakan lain)

PT BANK RAKYAT INDONESIA AGRONIAGA Tbk STATEMENT OF CASH FLOWS (continued) For the Year Ended December 31, 2016 (Expressed in thousands of Rupiah, unless otherwise stated)

Tahun yang Berakhir pada Tanggal 31 Desember/ Year Ended December 31 2016

Catatan/ Notes

2015

ARUS KAS DARI AKTIVITAS PENDANAAN Pembagian laba untuk dividen Penerimaan dari penerbitan saham Biaya emisi saham

(15.615.422)

22

(6.076.112)

499.979.496 (1.167.680)

22

402.893.452 (1.201.154)

Kas Neto Diperoleh dari Aktivitas Pendanaan

483.196.394

395.616.186

Net Cash Provided by Financing Activities

KENAIKAN NETO KAS DAN SETARA KAS

837.543.668

421.276.071

NET INCREASE IN CASH AND CASH EQUIVALENTS

KAS DAN SETARA KAS AWAL TAHUN

1.451.372.067

1.030.095.996

CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR

KAS DAN SETARA KAS AKHIR TAHUN

2.288.915.735

1.451.372.067

CASH AND CASH EQUIVALENTS AT END OF YEAR

Kas dan Setara Kas akhir tahun terdiri dari: Kas Giro pada Bank Indonesia Giro pada bank lain Penempatan pada Bank Indonesia dan bank lain - jangka waktu jatuh tempo tiga bulan atau kurang sejak tanggal perolehan Total Kas dan Setara Kas

CASH FLOWS FROM FINANCING ACTIVITIES Dividends paid Proceeds from issuance of shares Shares issuance cost

28.654.362

3

21.344.659

1.036.528.822 106.816.301

4 5

591.846.039 378.230.209

1.116.916.250

6

459.951.160

Cash and Cash Equivalents at end of year consist of: Cash Current accounts with Bank Indonesia Current accounts with other banks Placements with Bank Indonesia and other banks - maturing within three months or less since the acquisition date

1.451.372.067

Total Cash and Cash Equivalents

2.288.915.735



7


PT BANK RAKYAT INDONESIA AGRONIAGA Tbk CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam ribuan Rupiah, kecuali dinyatakan lain) 1.

PT BANK RAKYAT INDONESIA AGRONIAGA Tbk NOTES TO THE FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in thousands of Rupiah, unless otherwise stated)

UMUM a.

1.

Pendirian Bank

GENERAL a.

Establishment of the Bank

PT Bank Agroniaga, Tbk (“Bank Agro” atau "Bank") didirikan dengan Akta No. 27 Notaris Raden Soekarsono, S.H., tanggal 27 September 1989. Anggaran Dasar Bank telah disahkan oleh Menteri Kehakiman Republik Indonesia dengan Surat Keputusan No. C.2-10019.HT.01.01-TH.89 tanggal 28 Oktober 1989 serta diumumkan dalam Berita Negara Republik Indonesia No. 96, Tambahan No. 3303 tanggal 1 Desember 1989.

PT Bank Agroniaga, Tbk (“Bank Agro” or “the Bank") was established by notarial deed No. 27 of notary Raden Soekarsono, S.H., dated September 27, 1989. The Bank's Articles of Association was approved by the Minister of Justice of the Republic of Indonesia through its Decision Letter No. C.2-10019.HT.01.01-TH.89 dated October 28, 1989, and was published in the Supplement No. 3303 of the State Gazette of the Republic of Indonesia No. 96 dated December 1, 1989.

Bank memperoleh izin usaha sebagai bank umum berdasarkan Surat Keputusan Menteri Keuangan No. 1347/KMK.013/1989 tanggal 11 Desember 1989 dan Surat Keputusan Direktur Bank Indonesia No. 22/1037/UPPS/ PSbD tanggal 26 Desember 1989.

The Bank obtained its license as a commercial bank based on the decision letter of the Ministry of Finance No. 1347/KMK.013/1989 dated December 11, 1989 and the Decision Letter of the Director of Bank Indonesia No. 22/1037/UPPS/PSbD dated December 26, 1989.

Perubahan status Bank dari perseroan tertutup menjadi perseroan terbuka berdasarkan Akta Pernyataan Keputusan Rapat No. 1 tanggal 2 Desember 2002 di hadapan Notaris Siti Rayhana, S.H., dan telah mendapatkan persetujuan dari Menteri Kehakiman Republik Indonesia tanggal 24 Desember 2002, dengan Surat Keputusan No. C-24779.HT.01.04.TH.2002, serta diumumkan dalam Berita Negara Republik Indonesia No. 9, Tambahan No. 881 tanggal 31 Januari 2003.

The change in the Bank’s status from a private company to a public company is based on notarial deed of Decision Meeting Statement No. 1 dated December 2, 2002 in the presence of Siti Rayhana, S.H., a notary, and was approved by the Minister of Justice of the Republic of Indonesia dated December 24, 2002 in its Decision Letter No. C-24779.HT.01.04.TH.2002, and was published in the Supplement No. 881 of the State Gazette of the Republic of Indonesia No. 9 dated January 31, 2003.

Pada tanggal 8 Mei 2006, Bank mendapatkan izin sebagai bank devisa berdasarkan surat keputusan Gubernur Bank Indonesia No. 8/41/KEP.GBI/2006.

On May 8, 2006, the Bank obtained a license to operate as foreign exchange bank based on the Decision Letter of the Governor of Bank Indonesia No. 8/41/KEP.GBI/2006.

Untuk memenuhi ketentuan Undang-undang No. 40 tahun 2007 tentang Perseroan Terbatas, Anggaran Dasar Bank telah dilakukan penyesuaian. Penyesuaian tersebut dinyatakan dalam Akta Pernyataan Keputusan Rapat No. 41 tanggal 16 Juli 2008 yang dibuat di hadapan Rusnaldy, S.H., notaris di Jakarta.

In compliance with Law No. 40 year 2007 regarding Limited Liability Company, The Bank’s Articles of Association was amended. The amendment was stated in notarial deed of Decision Meeting Statement No. 41 dated July 16, 2008 in the presence of Rusnaldy, S.H., a notary in Jakarta.

8




UMUM (lanjutan) a.

1.

Pendirian Bank (lanjutan)

GENERAL (continued) a.

Establishment of the Bank (continued)

Perubahaan ini telah mendapatkan persetujuan dari Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dengan surat keputusan No. AHU-46794.AH.01.02.Tahun 2008 tanggal 1 Agustus 2008 dan telah diumumkan dalam Berita Negara Republik Indonesia No. 69, Tambahan No. 15961 tanggal 26 Agustus 2008.

This amendment was approved by the Minister of Laws and Human Rights of the Republic of Indonesia in its decree No. AHU46794.AH.01.02.Year 2008 dated August 1, 2008, and was published in the Supplement No. 15961 of the State Gazette of the Republic of Indonesia No. 69 dated August 26, 2008.

Anggaran Dasar Bank telah mengalami beberapa kali perubahan, terakhir dengan Akta Pernyataan Keputusan Rapat No. 58 tanggal 27 Desember 2016 yang dibuat dihadapan M. Nova Faisal, S.H., M.Kn, notaris di Jakarta, mengenai peningkatan modal ditempatkan dan disetor penuh. Perubahan ini telah diterima dan dicatat di dalam Sistem Administrasi Badan Hukum oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Penerimaan Pemberitahuan Perubahaan Anggaran Dasar PT Bank Rakyat Indonesia Agroniaga Tbk No. AHU-AH.01.03-0112637 tanggal 27 Desember 2016.

The Articles of Association of the Bank has been amended several times and the latest by notarial deed of Decision Meeting Statement No. 58 dated December 27, 2016 in the presence of M. Nova Faisal, S.H., M.Kn, a notary in Jakarta, regarding the issuance of issued and fully paid capital. The amendment has been accepted and recorded in the Legal Entity Administration System by the Minister of Laws and Human Rights of the Republic of Indonesia in his Letter of Acceptance Notice Amendment of the Articles of Association of PT Bank Rakyat Indonesia Agroniaga Tbk No. AHU-AH.01.03-0112637 dated December 27, 2016.

Pada tahun 2012, PT Bank Agroniaga Tbk melakukan perubahan nama menjadi PT Bank Rakyat Indonesia Agroniaga Tbk (“BRI Agro” atau “Bank”) sesuai dengan Akta Pernyataan Keputusan Rapat No. 30 tanggal 16 Mei 2012 yang dibuat dihadapan Notaris Rusnaldy, S.H., yang telah mendapat persetujuan dari Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. AHU30947.AH.01.02.Tahun 2012 tanggal 7 Juni 2012 dan Surat Keputusan Gubernur Bank Indonesia No. 14/72/KEP.GBI/2012 tanggal 10 Oktober 2012.

In 2012, PT Bank Agroniaga Tbk changed its name to PT Bank Rakyat Indonesia Agroniaga Tbk (“BRI Agro” or “Bank”) based on Decision Meeting Statement No. 30 dated May 16, 2012 in the presence of Rusnaldy, S.H., a notary, which has been approved by the Minister of Laws and Human Rights of the Republic of Indonesia in its Decision Letter No. AHU30947.AH.01.02.Year 2012 dated June 7, 2012 and Decision Letter from the Governor of Bank Indonesia No. 14/72/KEP.GBI/2012 dated October 10, 2012.

Sesuai dengan pasal 3 Anggaran Dasar, ruang lingkup kegiatan Bank adalah menjalankan kegiatan umum di bidang perbankan.

In accordance with article 3 of the Articles of Association, the Bank’s scope of business is to conduct commercial banking activities.

9




UMUM (lanjutan) a.

1.

Pendirian Bank (lanjutan)

GENERAL (continued) a.

Establishment of the Bank (continued) The Bank’s head office is located at BRI Agro Bulding, Jl. Warung Jati Barat No.139, Jakarta. As of December 31, 2016 and 2015, the Bank has offices as follows (unaudited):

Kantor pusat Bank berlokasi di Gedung BRI Agro, Jl. Warung Jati Barat No.139, Jakarta. Pada tanggal 31 Desember 2016 dan 2015, Bank memiliki kantor-kantor sebagai berikut (tidak diaudit):

31 Desember/ 31 Desember/ December 31, 2016 December 31, 2015

Kantor Pusat Non Operasional Kantor Cabang Kantor Cabang Pembantu

1 16 19

1 16 17

The parent entity is PT Bank Rakyat Indonesia (Persero) Tbk whereby PT Bank Rakyat Indonesia (Persero) Tbk is owned by the Government of the Republic of Indonesia as the majority shareholder.

Entitas induk Bank adalah PT Bank Rakyat Indonesia (Persero) Tbk dan PT Bank Rakyat Indonesia (Persero) Tbk dimiliki oleh Pemerintah Republik Indonesia sebagai pemegang saham mayoritas.

b.

Non Operational Head Office Branch Offices Sub Branch Offices

Penawaran Umum Saham Bank

b.

Public Offering of the Bank's Shares

Pada tanggal 21 Mei 2003, Bank menyampaikan Pernyataan Pendaftaran Perusahaan Publik kepada Ketua Badan Pengawas Pasar Modal dan Lembaga Keuangan ("Bapepam-LK") di Jakarta. Berdasarkan Surat Ketua Bapepam-LK No. S-1565/PM/2003 tanggal 30 Juni 2003, Bank dinyatakan efektif menjadi perusahaan publik.

On May 21, 2003, the Bank submitted a Statement of Registration for a Public Company to the Chairman of Capital Market and Financial Institution Supervisory Agency ("Bapepam-LK") in Jakarta. Based on the Letter of Bapepam-LK Chairman No. S-1565/PM/2003 dated June 30, 2003, the Bank’s status as a public company became effective.

Selanjutnya Bank mencatatkan saham perdananya sebanyak 1.514.043.000 lembar saham dengan nominal Rp100 (Rupiah penuh) per lembar saham di Bursa Efek Indonesia (dahulu Bursa Efek Surabaya) pada tanggal 8 Agustus 2003, berdasarkan Surat Persetujuan Pencatatan Awal Saham Bank Tbk No. JKT-007/LIST/BES/VIII/2003 tanggal 7 Agustus 2003.

Subsequently, on August 8, 2003, the Bank listed its shares totaled to 1,514,043,000 shares with par value per share of Rp100 (full Rupiah) in the Indonesia Stock Exchange (formerly Surabaya Stock Exchange) based on Approval Letter for the First Listing of the Bank’s shares No. JKT-007/LIST/BES/VIII/2003 dated August 7, 2003.

10




UMUM (lanjutan) c.

1.

Penawaran Umum Terbatas Saham Bank

GENERAL (continued) c.

Limited Public Offering of the Bank's Shares

Pada tanggal 9 Oktober 2003, Bank menyampaikan Pernyataan Pendaftaran Penawaran Umum Terbatas I kepada Ketua Bapepam-LK dalam rangka penerbitan Hak Memesan Efek Terlebih Dahulu sebanyak 305.867.338 Saham Biasa Atas Nama dengan nilai nominal Rp100 (Rupiah penuh) setiap lembar saham. Pada tanggal 7 November 2003, Ketua Bapepam-LK melalui surat No. S-2718/PM/2003 menyetujui pernyataan pendaftaran tersebut. Dari Penawaran Umum Terbatas I, Bank dapat meningkatkan jumlah modal saham sebesar Rp30.586.734.

On October 9, 2003, the Bank submitted a Statement of Registration for a Limited Public Offering I to the Chairman of Bapepam-LK in accordance with the issuance of Pre-emptive Rights for 305,867,338 common shares with par value per share of Rp100 (full Rupiah). On November 7, 2003, the Chairman of Bapepam-LK, through decree No. S-2718/PM/2003, approved the statement of registration. From the Limited Public Offering I, the Bank increased its share capital by Rp30,586,734.

Pada tanggal 14 Maret 2005, Bank menyampaikan Pernyataan Pendaftaran Penawaran Umum Terbatas II kepada Ketua Bapepam-LK dalam rangka penerbitan Hak Memesan Efek Terlebih Dahulu sebanyak 513.857.128 Saham Biasa Atas Nama dengan nilai nominal Rp100 (Rupiah penuh) setiap lembar saham. Pada tanggal 12 April 2005, Ketua Bapepam-LK melalui surat No. S-757/PM/2005 menyetujui pernyataan pendaftaran tersebut. Dari penawaran umum terbatas II, Bank dapat meningkatkan jumlah modal saham sebesar Rp51.385.713.

On March 14, 2005, the Bank submitted a Statement of Registration for a Limited Public Offering II to the Chairman of Bapepam-LK in accordance with the issuance of Pre-emptive Rights for 513,857,128 common shares with par value per share of Rp100 (full Rupiah). On April 12, 2005, the Chairman of Bapepam-LK, through decree No. S-757/PM/2005, approved the statement of registration. From the Limited Public Offering II, the Bank increased its share capital by Rp51,385,713.

Pada tanggal 24 Maret 2009, Bank meningkatkan modal disetornya sebanyak 64.000.000 saham melalui penambahan modal tanpa penerbitan Hak Memesan Efek Terlebih Dahulu. Peningkatan modal tersebut dilakukan oleh Dana Pensiun Perkebunan, pemegang saham pengendali Bank.

On March 24, 2009, the Bank increased its share capital by 64,000,000 common shares through the issuance of additional share capital without Pre-emptive Rights. The additional share capital were issued by Dana Pensiun Perkebunan, as controlling shareholder of the Bank.

Pada tanggal 28 September 2009, Bank menyampaikan Pernyataan Pendaftaran Penawaran Umum Terbatas III kepada Ketua Bapepam-LK dalam rangka penerbitan Hak Memesan Efek Terlebih Dahulu sebanyak 1.040.632.622 Saham Biasa Atas Nama dengan nilai nominal Rp100 (Rupiah penuh) setiap lembar saham. Pada tanggal 9 November 2009, Ketua Bapepam-LK melalui surat No. S-9827/BL/2009 menyetujui Pernyataan Penawaran Umum Terbatas III tersebut. Dari penawaran umum terbatas ini Bank telah meningkatkan jumlah modal sahamnya sebanyak 1.005.144.170 lembar saham.

On September 28, 2009, the Bank submitted a Statement of Registration for a Limited Public Offering III to the Chairman of Bapepam-LK in accordance with the issuance of Pre-emptive Rights for 1,040,632,622 common shares with par value per share of Rp100 (full Rupiah). On November 9, 2009, the Chairman of BapepamLK, through letter No. S-9827/BL/2009, approved the Statement of Registration for a Limited Public Offering III. From the Limited Public Offering III, the Bank has increased its share capital by 1,005,144,170 shares.

11




UMUM (lanjutan) c.

1.

Penawaran Umum Terbatas Saham Bank (lanjutan)


Limited Public Offering of the Bank's Shares (continued)

Pada Penawaran Umum Terbatas III tersebut, Bank juga menerbitkan waran sejumlah 502.572.084 lembar yang dapat dikonversi menjadi saham Bank dengan nilai nominal Rp100 per lembar (Rupiah penuh).

In the Limited Public Offering III, the Bank also issued 502,572,084 warrants convertible into shares of the Bank with each nominal value of Rp100 (full Rupiah).

Sampai dengan tanggal 25 Mei 2011 (akhir dari konversi waran), jumlah waran yang telah dikonversi menjadi saham sejumlah 199.890.250 lembar, sehingga meningkatkan modal saham Bank sebesar Rp19.989.025.

Until May 25, 2011 (ending period of warrants conversion), the total warrants that have been converted into shares is of 199,890,250 thereby increasing the Bank’s share capital by Rp19,989,025.

Pada tanggal 10 Mei 2013, Bank menyampaikan Pernyataan Pendaftaran Penawaran Umum Terbatas IV kepada Dewan Komisioner Otoritas Jasa Keuangan dalam rangka penerbitan Hak Memesan Efek Terlebih Dahulu sebanyak 3.846.035.599 Saham Biasa Atas Nama dengan nilai nominal Rp100 (Rupiah penuh) setiap lembar saham.

On May 10, 2013, the Bank submitted a Statement of Registration for a Limited Public Offering IV to the Board of Commissioners of Otoritas Jasa Keuangan in accordance with the issuance of Pre-emptive Rights for 3,846,035,599 common shares with par value per share of Rp100 (full Rupiah).

Pada tanggal 26 Juni 2013, Dewan Komisioner Otoritas Jasa Keuangan melalui surat No. S-186/D.04/2013 menyetujui Pernyataan Penawaran Umum Terbatas IV tersebut. Dari penawaran umum terbatas ini Bank telah meningkatkan jumlah modal sahamnya sebanyak 3.832.685.599 lembar saham.

On June 26, 2013, the Board of Commissioners of Otoritas Jasa Keuangan, through letter No. S-186/D.04/2013, approved the Statement of Registration for a Limited Public Offering IV. From the Limited Public Offering IV, the Bank has increased its share capital by 3,832,685,599 shares.

Pada tanggal 11 Mei 2015, Bank menyampaikan Pernyataan Pendaftaran Penawaran Umum Terbatas V kepada Dewan Komisioner Otoritas Jasa Keuangan dalam rangka penerbitan Hak Memesan Efek Terlebih Dahulu sebanyak 5.588.080.286 Saham Biasa Atas Nama dengan nilai nominal Rp100 (Rupiah penuh) setiap lembar saham. Pada tanggal 17 Juni 2015, Dewan Komisioner Otoritas Jasa Keuangan melalui surat No. S-259/D.04/2015 menyatakan efektifnya Pernyataan Pendaftaran Penawaran Umum Terbatas V tersebut. Dari penawaran umum terbatas ini Bank telah meningkatkan jumlah modal sahamnya sebanyak 4.028.934.521 lembar saham (Catatan 22).

On May 11, 2015, the Bank submitted a Statement of Registration for a Limited Public Offering V to the Board of Commissioners of Otoritas Jasa Keuangan in accordance with the issuance of Pre-emptive Rights for 5,588,080,286 common shares with par value per share of Rp100 (full Rupiah). On June 17, 2015, the Board of Commissioners of Otoritas Jasa Keuangan, through letter No. S-259/D.04/2015, declared effective the Statement of Registration for a Limited Public Offering V. From the Limited Public Offering V, the Bank has increased its share capital by 4,028,934,521 shares (Note 22).

12




UMUM (lanjutan) c.

1.

Penawaran Umum Terbatas Saham Bank (lanjutan)


On October 17, 2016, the Bank submitted a Statement of Registration for a Limited Public Offering VI to the Board of Commissioners of Otoritas Jasa Keuangan in accordance with the issuance of Pre-emptive Rights for 3,845,996,122 common shares with par value per share of Rp100 (full Rupiah) and also issued Warrants Series II for 616,908,103. On November 25, 2016, the Board of Commissioners of Otoritas Jasa Keuangan, through letter No. S-695/D.04/2016, declared effective the Statement of Registration for a Limited Public Offering VI that increased Bank’s share capital by 3,845,966,122 shares. Warrants Series II can be converted into shares with value per share of Rp130 (full Rupiah) from June 9, 2017 until June 11, 2018 (Note 22).

Pada tanggal 17 Oktober 2016, Bank menyampaikan Pernyataan Pendaftaran Penawaran Umum Terbatas VI kepada Dewan Komisioner OJK dalam rangka Penambahan Modal Dengan Hak Memesan Efek Terlebih Dahulu (PMHMETD) sebanyak-banyaknya 3.845.996.122 saham biasa dengan nilai nominal Rp100 (Rupiah penuh) per saham dan menerbitkan Waran Seri II sebanyak 616.908.103 lembar. Pada tanggal 25 November 2016, Dewan Komisioner OJK melalui surat No. S-695/D.04/2016 memberitahu mengenai Efektifnya Pernyataan Pendaftaran Penawaran Umum Terbatas VI, sehingga meningkatkan jumlah modal sahamnya sebanyak 3.845.996.122 lembar saham. Waran Seri II dapat dikonversi menjadi saham Bank dengan nilai Rp130 per lembar (Rupiah penuh) dengan periode pelaksanaan dari 9 Juni 2017 sampai dengan 11 Juni 2018 (Catatan 22). d.

Limited Public Offering of the Bank's Shares (continued)

Akuisisi Bank

d.

Acquisition of The Bank

Pada tanggal 19 Agustus 2010, Dana Pensiun Perkebunan selaku pemegang 95,96% saham Bank dan PT Bank Rakyat Indonesia (Persero) Tbk (BRI) telah menandatangani Perjanjian Pengikatan Jual Beli (PPJB) Saham untuk mengakuisisi saham Bank dengan total nominal sebesar Rp330.296.054 untuk 3.030.239.023 lembar saham dengan harga Rp109 (Rupiah penuh) per lembar.

On August 19, 2010, Dana Pensiun Perkebunan as owner of 95.96% of the Bank’s shares and PT Bank Rakyat Indonesia (Persero) Tbk (BRI) entered into Sale and Purchase Agreement (PPJB) of Shares to acquire the shares of the Bank with total nominal value of Rp330,296,054 for 3,030,239,023 number of shares at a price of Rp109 (full Rupiah) per share.

Komposisi kepemilikan saham Bank setelah akuisisi dan setelah dilakukan penjualan saham kembali kepada publik oleh BRI adalah 76% dimiliki oleh BRI, 14% Dana Pensiun Perkebunan (Dapenbun) dan 10% publik.

After the acquisition and resale of shares to the public by BRI, the shareholdings of the Bank comprises of 76% by BRI, 14% by Dana Pensiun Perkebunan (Dapenbun) and 10% by the public.

Berdasarkan RUPS Luar Biasa BRI yang diaktakan dengan akta No. 37 tanggal 24 November 2010, Notaris Fathiah Helmi, S.H., para pemegang saham telah menyetujui akuisisi terhadap Bank. Selain itu, Bank Indonesia juga telah memberikan persetujuannya melalui surat No. 13/19/GBI/DPIP/Rahasia tanggal 16 Februari 2011.

Based on BRI’s Extraordinary General Shareholder Meeting according to notarial deed No. 37 dated November 24, 2010, Notary Fathiah Helmi, S.H., the shareholders approved the acquisition of the Bank. Bank Indonesia also granted approval of the acquisition in its letter No. 13/19/GBI/DPIP/Rahasia dated February 16, 2011.

13




UMUM (lanjutan) d.

1.

Akuisisi Bank (lanjutan)

GENERAL (continued) d.

Acquisition of the Bank (continued)

Akuisisi ini diselesaikan pada tanggal 3 Maret 2011 berdasarkan Akta Akuisisi No. 14 Notaris Fathiah Helmi, S.H., dimana BRI memiliki 88,65% dari seluruh saham yang ditempatkan dan disetor penuh dalam Bank, sebagaimana dimuat dalam akta No. 68 tanggal 29 Desember 2009, Notaris Rusnaldy, S.H. Hal tersebut di atas telah mempertimbangkan efek dari Waran Seri I yang dapat dieksekusi sampai dengan tanggal 25 Mei 2011.

The acquisition was completed on March 3, 2011 based on the Acquisition Deed No. 14, Notary Fathiah Helmi, S.H., whereby BRI owned 88.65% of the total issued and fully paid shares of the Bank, as stated in notarial deed No. 68 dated December 29, 2009, Notary Rusnaldy, S.H. The above mentioned matter has considered the effects of Warrant Series I that could be exercised until May 25, 2011.

Untuk memenuhi Peraturan Bapepam-LK No. IX.H.1, Lampiran Keputusan Ketua Bapepam-LK No. Kep-259/BL/2008, tanggal 30 Juni 2008, tentang “Pengambilalihan Perusahaan Terbuka”, BRI sebagai pengendali baru Bank diwajibkan untuk melaksanakan Penawaran Tender terhadap saham Bank yang dimiliki pemegang saham publik. Pernyataan Penawaran Tender telah dinyatakan efektif pada tanggal 4 Mei 2011 berdasarkan Surat Ketua Bapepam-LK No. S-4985/BL/2011 dan telah diumumkan pada 2 (dua) surat kabar harian nasional pada tanggal 5 Mei 2011.

In compliance with Bapepam-LK Regulation No. IX.H.1, Attachment to Decision of Chairman of Bapepam-LK No. Kep-259/BL/2008 dated June 30, 2008 regarding “Public Company Takeovers”, BRI, as the new controlling shareholder of the Bank is required to conduct mandatory Tender Offer for the remaining shares which are owned by the public. The Tender Offer statement became effective on May 4, 2011 based on the Letter of Bapepam-LK Chairman No. S-4985/BL/2011 and was published on 2 (two) national daily newspapers on May 5, 2011.

Masa penawaran Tender dimulai pada tanggal 5 Mei 2011 dan berakhir pada tanggal 24 Mei 2011. Pada tanggal penutupan masa Penawaran Tender, terdapat 113.326.500 lembar saham (3,15% dari seluruh saham Bank) yang dibeli oleh BRI dari publik. Harga Penawaran Tender yang digunakan adalah sebesar Rp182 (Rupiah penuh) per lembar.

The Tender Offer period started on May 5, 2011 and concluded on May 24, 2011. On the closing date of the Tender Offer period, BRI acquired 113,326,500 additional shares (3.15% of the total shares of the Bank) from the public. The Tender Offer price was at Rp182 (full Rupiah) per share.

Pada tanggal 1 Juli 2011, BRI melakukan penjualan saham kepada Dapenbun sejumlah 256.375.502 lembar atas eksekusi opsi beli Dapenbun dengan harga Rp109 (Rupiah penuh) per lembar. Selanjutnya sesuai peraturan Bapepam-LK No. IX.H.1, jangka waktu pengembalian penawaran tender adalah selama 2 (dua) tahun, namun khusus untuk Bank, BRI wajib memenuhi minimal kepemilikan saham publik sebesar 10%, paling lambat pada tanggal 24 Mei 2013. Hal ini untuk memenuhi Surat Bursa Efek Indonesia No. S-06472/BEI.PPJ/09-2011 tanggal 23 September 2011 perihal perpanjangan batas waktu peningkatan kepemilikan saham publik.

On July 1, 2011, BRI conducted the sale of 256,375,502 shares to Dapenbun as a result of Dapenbun’s exercise of its buy option at a price of Rp109 (full Rupiah) per share. Based on Bapepam-LK Regulation No. IX.H.1, the period to return the Tender Offer is within a maximum period of 2 (two) years, however, in the case of the Bank, BRI required to meet the minimum public shareholding of 10%, no later than May 24, 2013. This was to comply with the letter received from the Indonesian Stock Exchange No. S-06472/BEI.PPJ/09-2011 dated September 23, 2011 regarding the extension of period for the increase of public shares ownership

14




UMUM (lanjutan) d.

e.

1.

Akuisisi Bank (lanjutan)

GENERAL (continued) d.

Acquisition of the Bank (continued)

Sampai dengan tanggal 31 Desember 2011, saham Bank yang berhasil dijual ke publik sebesar 500.000 lembar saham, sehingga kepemilikan saham BRI di Bank per 31 Desember 2011 menjadi 79,78% dan Dapenbun 14%.

As of December 31, 2011, the total shares of the Bank sold to the public totalled to 500,000 shares, reducing BRI’s ownership to 79.78%, while maintaining Dapenbun’s ownership remained at 14%.

Selama tahun 2012 dan 2013 tidak terdapat penjualan saham, kemudian pada tahun 2014 terdapat penjualan saham sebesar 130.000 lembar saham, sehingga per tanggal 31 Desember 2016 dan 2015, kepemilikan saham publik untuk memenuhi surat Bursa Efek Indonesia No. S-06472/BEI.PPJ/09-2011 tanggal 23 September 2011 sebesar 10% pada tanggal 24 Mei 2013 belum dapat dipenuhi BRI karena tidak aktifnya harga saham Bank di pasar modal.

During the year 2012 and 2013, there were no sales of shares, and during the year 2014, there were sale of shares amounted to 130,000 shares, thus as of December 31, 2016 and 2015, the required public ownership based on letter from the Indonesian Stock Exchange No. S-06472/BEI.PPJ/09-2011 dated September 23, 2011 of 10% by May 24, 2013 could not be met due to Bank’s inactive share price in the capital market.

Struktur dan Manajemen

e.

Structure and Management The composition of the Bank’s Boards of Commissioners and Directors as of December 31, 2016 based on the Bank’s General Shareholders Meeting held on April 20, 2016 stated under notarial deed No.18, Notary Rusnaldy, S.H. and as of December 31, 2015 based on the Bank’s General Shareholders Meeting held on March 25, 2015 stated under notarial deed No. 51, Notary Rusnaldy, S.H., respectively, are as follows:

Susunan Dewan Komisaris dan Direksi Bank masing-masing pada tanggal 31 Desember 2016 ditetapkan berdasarkan Rapat Umum Pemegang Saham (RUPS) Bank tanggal 20 April 2016 sesuai Akta Notaris No. 18, Notaris Rusnaldy, S.H. dan pada tanggal 31 Desember 2015 ditetapkan berdasarkan RUPS Bank tanggal 25 Maret 2015 sesuai Akta Notaris No. 51, Notaris Rusnaldy, S.H. adalah sebagai berikut: 31 Desember/ December 31, 2016 Dewan Komisaris Komisaris Utama/Independen Komisaris Independen Komisaris Komisaris

Board of Commissioners Bambang Soepeno Achmad Fachmi Roswita Nilakurnia Saptono Siwi

Direksi Direktur Utama Direktur Kepatuhan Direktur Bisnis Direktur Pengendalian Risiko Kredit dan Pendanaan Direktur Operasional dan Keuangan

President/Independent Commissioner Independent Commissioner Commissioner Commissioner Board of Directors

I Komang Sudiarsa Mustari Damopolii Zuhri Anwar Sahala Manalu Zainuddin Mappa

15

President Director Compliance Director Business Director Funding and Credit Risk Control Director Operation and Finance Director




UMUM (lanjutan) e.

1.

Struktur dan Manajemen (lanjutan)

GENERAL (continued) e.

Structure and Management (continued) The composition of the Bank’s Boards of Commissioners and Directors as of December 31, 2016 based on the Bank’s General Shareholders Meeting held on April 20, 2016 stated under notarial deed No.18, Notary Rusnaldy, S.H. and as of December 31, 2015 based on the Bank’s General Shareholders Meeting held on March 25, 2015 stated under notarial deed No. 51, Notary Rusnaldy, S.H., respectively, are as follows (continued):

Susunan Dewan Komisaris dan Direksi Bank masing-masing pada tanggal 31 Desember 2016 ditetapkan berdasarkan Rapat Umum Pemegang Saham (RUPS) Bank tanggal 20 April 2016 sesuai Akta Notaris No. 18, Notaris Rusnaldy, S.H. dan pada tanggal 31 Desember 2015 ditetapkan berdasarkan RUPS Bank tanggal 25 Maret 2015 sesuai Akta Notaris No. 51, Notaris Rusnaldy, S.H. adalah sebagai berikut (lanjutan):

31 Desember/ December 31, 2015 Dewan Komisaris Komisaris Utama/Independen Komisaris Independen Komisaris Komisaris

Board of Commissioners Bambang Soepeno Achmad Fachmi Roswita Nilakurnia Zainuddin Mappa

President/Independent Commissioner Independent Commissioner Commissioner Commissioner

Direksi Direktur Utama Direktur Pengendalian Risiko Kredit dan Pendanaan Direktur Operasional dan Keuangan Direktur Bisnis Direktur Kepatuhan

Board of Directors Heru Sukanto

President Director Funding and Credit Risk Control Director Operation and Finance Director Business Director Compliance Director

Sahala Manalu Sudarmin Sjamsoe Zuhri Anwar Mustari Damopolii

The composition of the Audit Committee of the Bank as of December 31, 2016 based on Decision letter of Directors No. Kpts.R.19/ Dir.01.02/MSDM/II/2016 dated February 22, 2016 and Decision letter of Board of Commissioners No. 01/DK-I/2016 dated January 18, 2016, whereas as of December 31, 2015 based on Decision letter of Directors No. Kpts.R.04/Dir.01.02/MSDM/03/2015 dated March 6, 2015 and Decision letter of Board of Commissioners No. 03/DK/II/2015 dated February 25, 2015 are as follows:

Susunan Komite Audit Bank pada tanggal 31 Desember 2016 ditetapkan berdasarkan Surat Keputusan Direksi No. Kpts.R.19/ Dir.01.02/MSDM/II/2016 tanggal 22 Februari 2016 dan Surat Dewan Komisaris No. 01/DKI/2016 tanggal 18 Januari 2016, sedangkan pada tanggal 31 Desember 2015 ditetapkan berdasarkan Surat Keputusan Direksi No. Kpts.R.04/Dir.01.02/MSDM/03/2015 tanggal 6 Maret 2015 dan Surat Dewan Komisaris No. 03/DK/II/2015 tanggal 25 Februari 2015 adalah sebagai berikut:

31 Desember/ December 31, 2016 Ketua Anggota Anggota

Achmad Fachmi Setiawan Kriswanto Eka Sriyantini

16

Chairman Member Member




UMUM (lanjutan) e.

1.

Struktur dan Manajemen (lanjutan)

GENERAL (continued) e.

Structure and Management (continued) The composition of the Audit Committee of the Bank as of December 31, 2016 based on Decision letter of Directors No. Kpts.R.19/ Dir.01.02/MSDM/II/2016 dated February 22, 2016 and Decision letter of Board of Commissioners No. 01/DK-I/2016 dated January 18, 2016, whereas as of December 31, 2015 based on Decision letter of Directors No. Kpts.R.04/Dir.01.02/MSDM/03/2015 dated March 6, 2015 and Decision letter of Board of Commissioners No. 03/DK/II/2015 dated February 25, 2015 are as follows (continued):

Susunan Komite Audit Bank pada tanggal 31 Desember 2016 ditetapkan berdasarkan Surat Keputusan Direksi No. Kpts.R.19/ Dir.01.02/MSDM/II/2016 tanggal 22 Februari 2016 dan Surat Dewan Komisaris No. 01/DKI/2016 tanggal 18 Januari 2016, sedangkan pada tanggal 31 Desember 2015 ditetapkan berdasarkan Surat Keputusan Direksi No. Kpts.R.04/Dir.01.02/MSDM/03/2015 tanggal 6 Maret 2015 dan Surat Dewan Komisaris No. 03/DK/II/2015 tanggal 25 Februari 2015 adalah sebagai berikut (lanjutan):

31 Desember/ December 31, 2015 Ketua Anggota Anggota

Achmad Fachmi Retno Surdini Eka Sriyantini

Chairman Member Member

Pada tanggal-tanggal 31 Desember 2016 dan 2015, Sekretaris Perusahaan Bank adalah Hirawan Nur Kustono sesuai dengan Surat Keputusan Direksi Bank No. Kpts.30/Dir.01.03/III/2004 tanggal 1 Maret 2004.

As of December 31, 2016 and 2015, the Corporate Secretary of the Bank is Hirawan Nur Kustono based on the Board of Directors Decision Letter No. Kpts.30/ Dir.01.03/III/2004, dated March 1, 2004.

Pada tanggal-tanggal 31 Desember 2016 dan 2015, Kepala Satuan Kerja Audit Internal Bank adalah Agus Suprapto berdasarkan Surat Keputusan Direksi Bank No. Kpts.09.A/ Dir.01.02/MSDM/V/2013 tanggal 29 Mei 2013.

As of December 31, 2016 and 2015, the Internal Audit Task Force Head is Agus Suprapto based on the Board of Directors Decision Letter No. Kpts.09.A/Dir.01.02/MSDM /V/2013 dated May 29, 2013.

Berdasarkan kebijakan Bank, manajemen kunci Bank mencakup anggota komisaris, direksi, komite audit, komite remunerasi, kepala divisi, kepala bagian langsung di bawah direksi dan kepala cabang.

Based on the Bank’s policies, key management of the Bank consist of members of the commissioners, directors, audit committee, remuneration committee, division heads, department heads directly reporting to the directors and branch heads.

Pada tanggal - tanggal 31 Desember 2016 dan 2015, Bank memiliki karyawan tetap dan karyawan tidak tetap sebagai berikut (tidak diaudit):

As of December 31, 2016 and 2015, the Bank has permanent and non-permanent employees as follows (unaudited):


Tetap Tidak tetap

444 196

398 194

Permanent Non-Permanent

Total

640

592

Total

17




IKHTISAR KEBIJAKAN AKUNTANSI a.

Dasar Pengukuran Laporan Keuangan

dan

2.

Penyusunan

SUMMARY OF ACCOUNTING POLICIES a.

Basis of Measurement and Preparation of the Financial Statements

Pernyataan Kepatuhan

Statement of Compliance

Laporan keuangan pada tanggal dan untuk tahun yang berakhir pada tanggal-tanggal 31 Desember 2016 dan 2015 disusun dan disajikan sesuai dengan Standar Akuntansi Keuangan di Indonesia, yang mencakup pernyataan dan interpretasi yang dikeluarkan oleh Dewan Standar Akuntansi Keuangan Ikatan Akuntan Indonesia (DSAK-IAI) dan peraturan Bapepam-LK No. VIII.G.7 lampiran keputusan Ketua Bapepam-LK No. KEP347/BL/2012 tanggal 25 Juni 2012 tentang “Penyajian dan Pengungkapan Laporan Keuangan Emiten atau Perusahaan Publik”.

The financial statements as of and for the years ended December 31, 2016 and 2015 were prepared and presented in accordance with Indonesian Financial Accounting Standards, which include the statements and interpretations issued by the Financial Accounting Standards Board Indonesian Institute of Accountants (DSAK-IAI) and Indonesian Capital Market and Financial Insitutions Supervisory Agency (Bapepam-LK) Regulation No.VIII.G.7 appendix of the Decision of the Chairman of Bapepam-LK No.KEP-347/BL/2012 dated June 25, 2012 regarding the “Guidelines on Financial Statements Presentations and Disclosures for Issuers or Public Companies”.

Laporan keuangan disusun sesuai dengan PSAK No. 1 (Revisi 2013), “Penyajian Laporan Keuangan”.

The financial statements is presented in conformity with the Statement of Financial Accounting Standards (“SFAS”) No.1 (Revised 2013), “Presentation of Financial Statements”.

Laporan keuangan disusun berdasarkan nilai historis kecuali untuk beberapa akun yang dinilai menggunakan dasar pengukuran lain sebagaimana dijelaskan pada kebijakan akuntansi dari akun tersebut.

The financial statements have been prepared on a historical cost basis except for some accounts which were assessed using another measurement basis as explained in the accounting policy for such accounts.

Laporan arus kas disusun dengan menggunakan metode langsung dengan mengelompokkan arus kas dalam aktivitas operasi, investasi dan pendanaan.

The statement of cash flows were prepared using the direct method by classifying the cash flows into operating, investing and financing activities.

Untuk keperluan laporan arus kas, yang termasuk kas dan setara kas terdiri dari kas, giro pada Bank Indonesia dan giro pada bank lain dan penempatan pada Bank Indonesia dan bank lain yang jatuh tempo dalam waktu 3 (tiga) bulan sejak tanggal perolehan, sepanjang tidak digunakan sebagai jaminan atas pinjaman yang diterima serta tidak dibatasi penggunaannya.

For the statement of cash flows purposes, cash and cash equivalents consists of cash, current accounts with Bank Indonesia and other banks and placements with Bank Indonesia and other banks maturing within 3 (three) months or less from the acquisition date provided that they are neither pledged as collateral for fund borrowings nor restricted.

Mata uang penyajian yang digunakan dalam laporan keuangan adalah mata uang Rupiah (Rp). Angka-angka yang disajikan dalam laporan keuangan, kecuali bila dinyatakan secara khusus, adalah dibulatkan dalam ribuan Rupiah.

The presentation currency used in the financial statements is the Indonesian Rupiah (Rp). Unless otherwise stated, all figures presented in the financial statements are rounded off to thousands of Rupiah.

18




IKHTISAR KEBIJAKAN AKUNTANSI (lanjutan) b.

2.

Aset keuangan dan liabilitas keuangan

SUMMARY (continued) b.

OF

ACCOUNTING

POLICIES

Financial assets and financial liabilities

Aset keuangan terdiri dari kas, giro pada Bank Indonesia, giro pada bank lain, penempatan pada Bank Indonesia dan bank lain, efek-efek, kredit yang diberikan, tagihan akseptasi, penyertaan saham dan aset lain-lain (piutang bunga dan piutang lain-lain).

Financial assets consist of cash, current accounts with Bank Indonesia, current accounts with other banks, placements with Bank Indonesia and other banks, securities, loans, acceptances receivable, investment in shares of stocks and other assets (interest receivables and other receivables).

Liabilitas keuangan terdiri dari liabilitas segera, simpanan nasabah, simpanan dari bank lain, liabilitas akseptasi dan liabilitas lain-lain (bunga yang masih harus dibayar dan setoran jaminan).

Financial liabilities consist of liabilities due immediately, deposits from customers, deposits from other banks, acceptances payable and other liabilities (interest payable and guarantee deposits).

(i)

(i)

Klasifikasi

Classification

Bank mengklasifikasikan aset keuangannya berdasarkan kategori sebagai berikut pada saat pengakuan awal: • Aset keuangan yang diukur pada nilai wajar melalui laporan laba rugi, yang memiliki 2 (dua) sub-klasifikasi, yaitu aset keuangan yang ditetapkan demikian pada saat pengakuan awal dan aset keuangan yang diklasifikasikan dalam kelompok yang diperdagangkan;

The Bank classifies its financial assets in the following categories at initial recognition: •

Financial assets held at fair value through profit or loss, which have 2 (two) sub-classifications, i.e. financial assets designated as such upon initial recognition and financial assets classified as held-for-trading;

•

Kredit yang diberikan dan piutang;

•

Loans and receivables;

•

Investasi dalam kelompok hingga jatuh tempo; dan

dimiliki

•

Held-to-maturity investments; and

•

Investasi dalam kelompok tersedia untuk dijual.

•

Available-for-sale investments.

Liabilitas keuangan diklasifikasikan ke dalam kategori sebagai berikut pada saat pengakuan awal:

Financial liabilities are classified into the following categories at initial recognition:

•

Diukur pada nilai wajar melalui laporan laba rugi, yang memiliki 2 (dua) subklasifikasi, yaitu liabilitas keuangan yang ditetapkan demikian pada saat pengakuan awal dan liabilitas keuangan yang telah diklasifikasikan dalam kelompok diperdagangkan;

•

Fair value through profit or loss, which has 2 (two) sub-classifications, i.e. financial liabilities designated as such upon initial recognition and those classified as held-for-trading;

•

Liabilitas keuangan lain yang tidak diklasifikasikan sebagai liabilitas keuangan yang diukur pada nilai wajar melalui laporan laba rugi dikategorikan dan diukur dengan biaya perolehan diamortisasi.

•

Other financial liabilities that is not classified as financial liabilities at fair value through profit or loss are classified and measured at amortized cost.

19




IKHTISAR KEBIJAKAN AKUNTANSI (lanjutan)

b.

2.

Aset keuangan dan liabilitas keuangan (lanjutan) (i)


ACCOUNTING

POLICIES

Financial assets and financial liabilities (continued) (i)

Klasifikasi (lanjutan)

OF

Classification (continued)

Kelompok aset dan liabilitas diukur pada nilai wajar melalui laporan laba rugi adalah aset dan liabilitas keuangan dimiliki untuk diperdagangkan yang diperoleh atau dimiliki Bank terutama untuk tujuan dijual atau dibeli kembali dalam waktu dekat, atau dimiliki sebagai bagian dari portofolio instrumen keuangan tertentu yang dikelola bersama untuk memperoleh laba jangka pendek atau position taking.

Classes of financial assets and liabilities at fair value through profit or loss consist of financial assets or liabilities held-for-trading which the Bank acquires or incurs principally for the purpose of selling or repurchasing in the near term, or holds as part of a financial instrument portfolio that is managed together for short-term profit or position taking.

Kredit yang diberikan dan piutang adalah aset keuangan non derivatif dengan pembayaran tetap atau telah ditentukan dan tidak mempunyai kuotasi di pasar aktif, kecuali:

Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market, other than:

•

yang dimaksudkan oleh Bank untuk dijual segera dalam waktu dekat, yang diklasifikasikan dalam kelompok diperdagangkan, serta yang pada saat pengakuan awal ditetapkan diukur pada nilai wajar melalui laporan laba rugi;

•

those that the Bank intends to sell immediately or in the short term, which are classified as held-fortrading, and those that the Bank upon initial recognition designates as at fair value through profit or loss;

•

yang pada saat pengakuan awal ditetapkan dalam kelompok investasi tersedia untuk dijual; atau

•

those that the Bank upon initial recognition designates as availablefor-sale investments; or

•

dalam hal Bank mungkin tidak akan memperoleh kembali investasi awal secara substansial kecuali yang disebabkan oleh penurunan kualitas kredit yang diberikan dan piutang, yang diklasifikasikan dalam kelompok tersedia untuk dijual.

•

those for which the Bank may not recover substantially all of its initial investment, other than because of loans and receivables deterioration, which classified as available-for-sale.

Held-to-maturity investments consist of quoted non-derivatives financial assets with fixed or determinable payments and fixed maturity that the Bank has the positive intention and ability to hold to maturity. Investments intended to be held for an undetermined period are not included in this classification.

Investasi dimiliki hingga jatuh tempo terdiri dari aset keuangan non-derivatif dengan pembayaran tetap atau telah ditentukan dan jatuh temponya telah ditetapkan dimana Bank mempunyai intensi positif dan kemampuan untuk memiliki aset keuangan tersebut hingga jatuh tempo. Investasi yang dimiliki untuk periode yang tidak dapat ditentukan tidak dikategorikan dalam klasifikasi ini.

20





b.

2.

Aset keuangan dan liabilitas keuangan (lanjutan) (i)


ACCOUNTING

POLICIES

Financial assets and financial liabilities (continued) (i)

Klasifikasi (lanjutan)

OF

Classification (continued)

Kategori tersedia untuk dijual terdiri dari aset keuangan non derivatif yang ditentukan sebagai tersedia untuk dijual atau tidak diklasifikasikan sebagai salah satu dari kategori aset keuangan lain.

The available-for-sale category consists of non-derivatives financial assets that are designated as available-for-sale or are not classified in one of the other categories of financial assets.

Setelah pengukuran awal, investasi tersedia untuk dijual diukur menggunakan nilai wajar dengan laba atau rugi yang diakui sebagai bagian dari ekuitas sampai dengan investasi dihentikan pengakuannya atau sampai investasi dinyatakan mengalami penurunan nilai dimana akumulasi laba atau rugi sebelumnya dilaporkan dalam ekuitas dilaporkan dalam laporan laba rugi dan penghasilan komprehensif lain. Hasil efektif dan (bila dapat diaplikasikan) hasil dari nilai tukar dinyatakan kembali untuk investasi tersedia dijual dan dilaporkan pada laporan laba rugi dan penghasilan komprehensif lain.

After initial recognition, available-for-sale investments are measured at fair value with gains or losses being recognized as part of equity until the investment is derecognized or until the investment is determined to be impaired at which time the cumulative gains or losses previously reported in equity is included in the statements of profit or loss and other comprehensive income. The effective yield and (where applicable) results of foreign exchange restatement for available for sale investments are reported in the statement of profit or loss and other comprehensive income.

Liabilitas keuangan lainnya merupakan liabilitas keuangan yang tidak dimiliki untuk dijual atau ditentukan sebagai nilai wajar melalui laba rugi saat pengakuan liabilitas.

Other financial liabilities pertain to financial liabilities that are neither held-fortrading nor designated as at fair value through profit or loss upon recognition of the liability. (ii) Initial recognition

(ii) Pengakuan awal a.

Pembelian atau penjualan aset keuangan yang memerlukan penyerahan aset dalam kurun waktu yang telah ditetapkan oleh peraturan dan kebiasaan yang berlaku di pasar (pembelian secara reguler) diakui pada tanggal penyelesaian.

a.

Purchase or sale of financial assets that requires delivery of assets within a time frame established by regulation or convention in the market (regular purchase) is recognized on the settlement date.

b.

Aset keuangan dan liabilitas keuangan pada awalnya diukur pada nilai wajarnya. Dalam hal aset keuangan atau liabilitas keuangan tidak diukur pada nilai wajar melalui laporan laba rugi, nilai wajar tersebut ditambah biaya transaksi yang dapat diatribusikan secara langsung. Pengukuran aset keuangan dan liabilitas keuangan setelah pengakuan awal tergantung pada klasifikasinya.

b.

Financial assets and financial liabilities are initially recognized at fair value. For those financial assets or financial liabilities not measured at fair value through profit or loss, the fair value includes directly attributable transaction costs. The subsequent measurement of financial assets and financial liabilities depends on their classification.

21





b.

2.

Aset keuangan dan liabilitas keuangan (lanjutan)


OF

ACCOUNTING

POLICIES

Financial assets and financial liabilities (continued) (ii) Initial recognition (continued)

(ii) Pengakuan awal (lanjutan) Biaya transaksi hanya meliputi biaya-biaya yang dapat diatribusikan secara langsung untuk perolehan suatu aset keuangan atau penerbitan suatu liabilitas keuangan dan merupakan biaya tambahan yang tidak akan terjadi apabila instrumen keuangan tersebut tidak diperoleh atau diterbitkan.

Transaction costs only include costs that are directly attributable to the acquisition of a financial asset or issuance of a financial liability and are incremental costs that would not have been incurred if the instrument had not been acquired or issued.

Untuk aset keuangan, biaya transaksi ditambahkan pada jumlah yang diakui pada awal pengakuan aset, sedangkan untuk liabilitas keuangan, biaya transaksi dikurangkan dari jumlah utang yang diakui pada pengakuan awal liabilitas.

In the case of financial assets, transaction costs are added to the amount initially recognized, while for financial liabilities, transaction costs are deducted from the amount of debt initially recognized.

Biaya transaksi tersebut diamortisasi selama umur instrumen berdasarkan metode suku bunga efektif dan dicatat sebagai bagian dari pendapatan bunga untuk biaya transaksi sehubungan dengan aset keuangan atau sebagai bagian dari beban bunga untuk biaya transaksi sehubungan dengan liabilitas keuangan.

Such transactions costs are amortized over the terms of the instruments based on effective interest rate method and are recorded as part of interest income for transaction costs related to financial assets or as part of interest expense for transaction costs related to financial liabilities.

Bank, pada pengakuan awal, dapat menetapkan aset keuangan tertentu sebagai nilai wajar melalui laporan laba rugi (opsi nilai wajar). Opsi nilai wajar dapat digunakan hanya bila memenuhi ketetapan sebagai berikut:

The Bank, upon initial recognition, may designate certain financial assets at fair value through profit or loss (fair value option). The fair value option is only applied when the following conditions are met:

•

penetapan sebagai opsi nilai wajar mengurangi atau mengeliminasi ketidak-konsistenan pengukuran dan pengakuan (accounting mismatch) yang dapat timbul; atau

•

the application of the fair value option reduces or eliminates an accounting mismatch that would otherwise arise; or

•

aset keuangan merupakan bagian dari portofolio instrumen keuangan yang risikonya dikelola dan dilaporkan kepada manajemen kunci berdasarkan nilai wajar; atau

•

the financial assets are part of a portfolio of financial instruments, the risks of which are managed and reported to key management on a fair value basis; or

•

aset keuangan terdiri dari kontrak utama dan derivatif melekat yang harus dipisahkan.

•

the financial assets consist of a host contract and embedded derivatives that must be bifurcated.

22





b.

2.



OF

ACCOUNTING

POLICIES

Financial assets and financial liabilities (continued) (ii) Initial recognition (continued)

(ii) Pengakuan awal (lanjutan) Opsi nilai wajar digunakan untuk kredit yang diberikan dan piutang tertentu yang dilindung nilai menggunakan credit derivatives atau swap suku bunga, namun tidak memenuhi kriteria untuk akuntansi lindung nilai. Jika tidak, kredit yang diberikan akan dicatat menggunakan biaya diamortisasi dan derivatif akan diukur menggunakan nilai wajar melalui laba rugi.

The fair value option is applied to certain loans and receivables that are hedged with credit derivatives or interest rate swap, but for which the hedge accounting conditions are not fulfilled. Otherwise, the loans would be accounted for at amortized cost, while the derivatives are measured at fair value through profit or loss.

Opsi nilai wajar juga digunakan untuk dana investasi yang merupakan bagian dari portofolio yang dikelola dengan basis nilai wajar. Opsi nilai wajar juga digunakan untuk structured investment yang termasuk derivatif melekat.

The fair value option is also applied to investment funds that are part of a portfolio managed on fair value basis. Furthermore, the fair value option is applied to structured investments that include embedded derivatives. (iii) Subsequent measurement

(iii) Pengukuran setelah pengakuan awal Aset keuangan dalam kelompok tersedia untuk dijual dan aset keuangan dan liabilitas keuangan yang diukur pada nilai wajar melalui laporan laba rugi diukur pada nilai wajarnya.

Available-for-sale financial assets and financial assets and financial liabilities at fair value through profit or loss are subsequently measured at fair value.

Kredit yang diberikan dan piutang serta investasi dimiliki hingga jatuh tempo dan liabilitas keuangan yang diukur pada biaya perolehan diamortisasi diukur pada biaya perolehan diamortisasi dengan menggunakan metode suku bunga efektif.

Loans and receivables, held to maturity investments and financial liabilities measured at amortized cost are measured at amortized cost using the effective interest rate method.

(iv) Derecognition

(iv) Penghentian pengakuan a.

Aset keuangan pengakuannya jika: •

a.

dihentikan

Financial assets are derecognized when: •

Hak kontraktual atas arus kas yang berasal dari aset keuangan tersebut berakhir; atau

23

The contractual rights to receive cash flows from the financial assets have expired; or





b.

2.


b.

ACCOUNTING

POLICIES

Financial assets and financial liabilities (continued)

a.

Aset keuangan dihentikan pengakuannya jika (lanjutan): •

OF

(iv) Derecognition (continued)

(iv) Penghentian pengakuan (lanjutan) a.

SUMMARY (continued)

Financial assets are derecognized when (continued): •

Bank mentransfer haknya untuk menerima arus kas yang berasal dari aset keuangan atau menanggung liabilitas untuk membayarkan arus kas yang diterima tersebut secara penuh tanpa penundaan berarti kepada pihak ketiga dibawah kesepakatan pelepasan (passthrough arrangement), dan antara (a) Bank telah mentransfer secara substansial seluruh risiko dan manfaat atas aset, atau (b) Bank tidak mentransfer maupun tidak memiliki secara substansial seluruh risiko dan manfaat atas aset, tetapi telah mentransfer kendali atas aset. Ketika Bank telah mentransfer hak untuk menerima arus kas dari aset atau telah memasuki passthrough arrangement dan tidak mentransfer serta tidak mempertahankan secara substansial seluruh risiko dan manfaat atas aset atau tidak mentransfer kendali atas aset, aset tersebut diakui sebesar keterlibatan Bank yang berkelanjutan atas aset tersebut.

The Bank has transferred its rights to receive cash flows from the financial assets or has assumed an obligation to pay the received cash flows in full without material delay to a third party under a pass-through arrangement, and either (a) the Bank has substantially transferred all the risks and rewards of the assets, or (b) the Bank has neither transferred nor retained substantially all risks and rewards of the assets, but has transferred control of the assets. When the Bank has transferred its rights to receive cash flows from an asset or has entered into a pass-through arrangement and has neither transferred nor retained substantially all the risks and rewards of the asset nor transferred control of the asset, the asset is recognized to the extent of the Bank’s continuing involvement in the asset.

Loans are written off when there is no realistic prospect of collection in the near future or the normal relationship between the Bank and the debtors has ceased to exist. Uncollectible loans are written off against the related allowance for impairment losses.

Kredit yang diberikan dihapusbukukan ketika tidak terdapat prospek yang realistis mengenai pengembalian pinjaman atau hubungan normal antara Bank dan debitur telah berakhir. Pinjaman yang tidak dapat dilunasi tersebut dihapusbukukan dengan mendebit cadangan kerugian penurunan nilai.

24





2.


b.

OF

ACCOUNTING

POLICIES

Financial assets and financial liabilities (continued) (iv) Derecognition (continued)

(iv) Penghentian pengakuan (lanjutan) b.

SUMMARY (continued)

b.

Liabilitas keuangan dihentikan pengakuannya jika liabilitas keuangan tersebut berakhir, yaitu ketika liabilitas yang ditetapkan dalam kontrak dilepaskan atau dibatalkan atau kadaluarsa.

Financial liabilities are derecognized when they end, i.e. when the obligation under the liability is discharged, cancelled or expired.

Where an existing financial liability is replaced by another from the same creditor on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as derecognition of the original liability and the recognition of a new liability and the difference in the respective carrying amounts is recognized in the statements of profit or loss and other comprehensive income.

Jika suatu liabilitas keuangan yang ada digantikan dengan yang lain oleh pemberi pinjaman yang sama pada keadaan yang secara substansial berbeda, atau berdasarkan suatu liabilitas yang ada yang secara substansial telah diubah, maka pertukaran atau modifikasi tersebut diperlakukan sebagai penghentian pengakuan liabilitas awal dan pengakuan liabilitas baru dan perbedaan nilai tercatat masingmasing diakui dalam laporan laba rugi dan penghasilan komprehensif lain.

(v) Income and expense recognition

(v) Pengakuan pendapatan dan beban a.

Pendapatan dan beban bunga atas aset tersedia untuk dijual serta aset keuangan dan liabilitas keuangan yang dicatat berdasarkan biaya perolehan diamortisasi, diakui pada laporan laba rugi dan penghasilan komprehensif lain dengan menggunakan metode suku bunga efektif.

a.

Interest income and interest expense on available-for-sale assets and financial assets and liabilities measured at amortized cost, are recognized in the statements of profit or loss and other comprehensive income using the effective interest rate method.

b.

Keuntungan dan kerugian yang timbul dari perubahan nilai wajar aset keuangan dan liabilitas keuangan yang diklasifikasikan sebagai diukur pada nilai wajar melalui laporan laba rugi diakui pada laporan laba rugi dan penghasilan komprehensif lain.

b.

Gains and losses arising from changes in the fair value of the financial assets and liabilities classified as at fair value through profit or loss are included in the statements of profit or loss and other comprehensive income. Gains and losses arising from changes in the fair value of available for sale financial assets are recognized directly in equity, except for foreign exchange gains and losses, financial asset is derecognized or impaired.

Keuntungan dan kerugian yang timbul dari perubahan nilai wajar atas aset keuangan yang diklasifikasikan dalam kelompok tersedia untuk dijual diakui secara langsung dalam ekuitas, kecuali keuntungan atau kerugian akibat perubahan nilai tukar dari item moneter, dihentikan pengakuannya atau adanya penurunan nilai dari aset keuangan tersebut.

25





b.

2.

Aset keuangan dan liabilitas keuangan (lanjutan) (v) Pengakuan (lanjutan)

pendapatan

dan


OF

ACCOUNTING

Financial assets and financial liabilities (continued) (v) Income and (continued)

beban

POLICIES

expense

recognition

When a financial asset is derecognized or impaired, the cumulative gains or losses previously recognized in equity should be reclassified to statements of profit or loss and other comprehensive income.

Pada saat aset keuangan dihentikan pengakuannya atau terjadi penurunan nilai, maka keuntungan atau kerugian kumulatif yang sebelumnya diakui dalam ekuitas harus direklas pada laporan laba rugi dan penghasilan komprehensif lain.

(vi) Reclassification of financial assets

(vi) Reklasifikasi aset keuangan Bank tidak diperkenankan untuk mereklasifikasi setiap instrumen keuangan dari diukur pada nilai wajar melalui laba rugi, jika pada pengakuan awal instrumen keuangan tersebut ditetapkan oleh Bank sebagai diukur pada nilai wajar melalui laba rugi.

The Bank is not allowed to reclassify any financial instrument from the fair value through profit or loss if in the initial recognition of that financial instrument was classified as the fair value through profit or loss.

Bank tidak boleh mengklasifikasikan aset keuangan sebagai investasi dimiliki hingga jatuh tempo, jika dalam tahun berjalan atau dalam kurun waktu 2 (dua) tahun sebelumnya, telah menjual atau mereklasifikasi investasi dimiliki hingga jatuh tempo dalam jumlah yang lebih dari jumlah yang tidak signifikan sebelum jatuh tempo (lebih dari jumlah yang tidak signifikan dibandingkan dengan jumlah nilai investasi dimiliki hingga jatuh tempo), kecuali penjualan atau reklasifikasi tersebut dimana:

The Bank is not allowed to classify any financial assets as held-to-maturity investments, if the entity has, during the current financial year or during the 2 (two) preceding financial years, has sold or reclassified a significant amount of heldto-maturity investments before maturity (more than an insignificant amount compared to the total amount of held-tomaturity investments) other than sales or reclassifications that:

a.

a.

are so close to maturity or the financial asset’s repurchase date that changes in the interest rate would not have a significant effect on the financial asset’s fair value;

b.

occur after the Bank has collected substantially all of the original principal of the financial assets through scheduled payments or prepayments; or

c.

are attributable to an isolated event that is beyond the Bank’s control, is non-recurring and could not have been reasonably anticipated by the Bank.

b.

c.

dilakukan ketika aset keuangan sudah mendekati jatuh tempo atau tanggal pembelian kembali di mana perubahan suku bunga tidak akan berpengaruh secara signifikan terhadap nilai wajar aset keuangan tersebut; terjadi setelah Bank telah memperoleh secara substansial seluruh jumlah pokok aset keuangan tersebut sesuai jadwal pembayaran atau Bank telah memperoleh pelunasan dipercepat; atau terkait dengan kejadian tertentu yang berada di luar kendali Bank, tidak berulang dan tidak dapat diantisipasi secara wajar oleh Bank.

26





b.

2.



OF

ACCOUNTING

POLICIES

Financial assets and financial liabilities (continued) (vii) Offsetting

(vii) Saling hapus Aset keuangan dan liabilitas keuangan dilakukan saling hapus dan nilai netonya disajikan dalam laporan posisi keuangan jika, dan hanya jika Bank memiliki hak yang berkekuatan hukum untuk melakukan saling hapus atas jumlah yang telah diakui tersebut dan adanya maksud untuk menyelesaikan secara neto atau untuk merealisasikan aset dan menyelesaikan liabilitasnya secara simultan.

Financial assets and liabilities are offset and the net amount is presented in the statement of financial position when, and only when the Bank has a legal right to offset the amounts and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously.

Pendapatan dan beban disajikan dalam jumlah neto hanya jika diperkenankan oleh Standar Akuntansi Keuangan.

Income and expenses are presented on a net basis only when permitted by the Financial Accounting Standards. (viii) Amortized cost measurement

(viii) Pengukuran biaya diamortisasi

The amortized cost of a financial asset or liability is the amount at which the financial asset or liability is measured at initial recognition, minus principal repayments, plus or minus the cumulative amortization using the effective interest rate method of any difference between the initial amount recognized and the maturity amount, minus any reduction for impairment.

Biaya perolehan diamortisasi dari aset keuangan atau liabilitas keuangan adalah jumlah aset keuangan atau liabilitas keuangan yang diukur pada saat pengakuan awal dikurangi pembayaran pokok pinjaman, ditambah atau dikurangi amortisasi kumulatif menggunakan metode suku bunga efektif yang dihitung dari selisih antara nilai pengakuan awal dan nilai jatuh temponya, dan dikurangi penurunan nilai.

(ix) Fair value measurement

(ix) Pengukuran nilai wajar Nilai wajar adalah harga yang akan diterima untuk menjual suatu aset atau harga yang akan dibayar untuk mengalihkan suatu liabilitas dalam transaksi teratur antara pelaku pasar pada tanggal pengukuran.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

Pengukuran nilai wajar mengasumsikan bahwa transaksi untuk menjual aset atau mengalihkan liabilitas terjadi:

The fair value measurement is based on the presumption that the transaction to sell an asset or paid to transfer a liability takes place either: • In the principal market for the assets and liabilities; or • In the absence of a principal market, in the most advantageous market for the asset or liability.

• •

Di pasar utama untuk aset dan liabilitas tersebut; atau Jika tidak terdapat pasar utama, dipasar yang paling menguntungkan untuk aset atau liabilitas tersebut.

27





2.



OF

ACCOUNTING

POLICIES

Financial assets and financial liabilities (continued) (ix) Fair value measurement (continued)

(ix) Pengukuran nilai wajar (lanjutan) Nilai wajar suatu aset atau liabilitas diukur menggunakan asumsi yang akan digunakan pelaku pasar ketika menentukan harga aset dan liabilitas tersebut dengan asumsi bahwa pelaku pasar bertindak dalam kepentingan ekonomik terbaiknya.

The fair value of an asset or a liability is measured using the assumptions that market participants would use when determining the price of the asset and liability assuming that market participants act in their own economic best interest.

Pengukuran nilai wajar aset non keuangan memperhitungkan kemampuan pelaku pasar untuk menghasilkan manfaat ekonomik dengan menggunakan aset dalam penggunaan tertinggi dan terbaiknya atau dengan menjualnya kepada pelaku pasar lain yang akan menggunakan aset tersebut dalam penggunaan tertinggi dan terbaiknya.

A fair value measurement of non-financial assets considers a market participant’s ability to generate economic benefits by using the asset in its highest and best use or by selling it to other market participants would use the asset in its highest and best use.

Bank menggunakan teknik penilaian yang sesuai dalam keadaan dan dimana data yang memadai tersedia untuk mengukur nilai wajar, memaksimalkan penggunaan input yang dapat diobservasi yang relevan dan meminimalkan penggunaan input yang tidak dapat diobservasi.

Bank uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs.

Semua aset dan liabilitas dimana nilai wajar diukur atau diungkapkan dalam laporan keuangan dapat dikategorikan pada level hirarki nilai wajar, berdasarkan tingkatan input terendah yang signifikan atas pengukuran nilai wajar secara keseluruhan:

All assets and liabilities for which fair value is measured or disclosed in the financial statements are classified within fair value hierarchy, based on the lowest level input that is significant to the fair value measurement as a whole:

•

•

•

•

Level 1: harga kuotasian (tanpa penyesuaian) di pasar aktif untuk aset atau liabilitas yang identik yang dapat diakses pada tanggal pengukuran. Level 2: input selain harga kuotasian yang termasuk dalam level 1 yang dapat diobservasi untuk aset dan liabilitas, baik secara langsung atau tidak langsung. Level 3: input yang tidak dapat diobservasi untuk aset dan liabilitas.

•

•

Level 1: quoted (unadjusted) market prices in active markets for identical assets or liabilities accessible at the measurement date. Level 2: inputs other than quoted prices included in level 1 for the asset and liability, which is directly or indirectly observable. Level 3: unobservable inputs for the asset and liability.

For assets and liabilities that are recognised in the financial statements on a recurring basis, Bank determines whether transfers have occured between levels in the hierarchy by re-assessing

Untuk aset dan liabilitas yang diakui pada laporan keuangan secara berulang, Bank menentukan apakah terjadi transfer antara level di dalam hirarki dengan cara mengevaluasi kategori berdasarkan input

28





b.

2.



OF

ACCOUNTING

POLICIES

Financial assets and financial liabilities (continued) (ix) Fair value measurement (continued)

(ix) Pengukuran nilai wajar (lanjutan) level terendah yang signifikan dalam pengukuran nilai wajar setiap akhir periode pelaporan.

categorisation based on the lowest level input that is significant to the fair value measurement as a whole at the end of each reporting period.

Bank untuk tujuan pengungkapan nilai wajar, telah menentukan kelas aset dan liabilitas berdasarkan sifat, karakteristik, risiko aset dan liabilitas, dan level hirarki nilai wajar (Catatan 32).

For the fair value disclosures purposes, Bank has determined classes of assets and liabilities based on the nature, characteristics, risks of the asset and liability, and the level of the fair value hierarchy (note 32). (x) Sukuk Financial Asset

(x) Aset keuangan sukuk Sejak 1 Januari 2016, saat pengakuan awal, Bank menentukan klasifikasi investasi pada sukuk sebagai diukur pada biaya perolehan, diukur pada nilai wajar melalui penghasilan komprehensif lain atau diukur pada nilai wajar melalui laba rugi.

Since January 1, 2016, at initial recognition, the Bank determines the classification of investments in sukuk either measured at cost, fair value through other comprehensive income or fair value through profit or loss.

Sebelum 1 Januari 2016, saat pengakuan awal, Bank menentukan klasifikasi investasi pada sukuk sebagai diukur pada biaya perolehan atau diukur pada nilai wajar melalui laba rugi.

Before January 1, 2016, at initial recognition, the Bank determines the classification of investments in sukuk either measured at cost or fair value through profit or loss.

Klasifikasi sukuk adalah sebagai berikut:

Sukuk classifications are as follows:

a.

a.

Diukur pada biaya perolehan •

• •

Measured at cost •

Investasi tersebut dimiliki dalam suatu model usaha yang bertujuan utama untuk memperoleh arus kas kontraktual dan terdapat persyaratan kontraktual dalam menentukan tanggal tertentu atas pembayaran pokok dan atau hasilnya. Biaya perolehan sukuk termasuk biaya transaksi. Selisih antara biaya perolehan dan nilai nominal diamortisasi secara garis lurus selama jangka waktu sukuk dan diakui dalam laba rugi.

The investment is held in a business model whereby the primary goal is to obtain contractual cash flows and has contractual terms in determining the specific date of principal payments and or the results.

• Sukuk acquisition cost includes transaction cost. • The difference between the acquisition cost and the nominal value is amortized on a straightline basis over the period of the sukuk and is recognized in profit or loss.

29





2.



OF

ACCOUNTING

Financial assets and financial liabilities (continued) (x) Sukuk Financial Asset (continued)

(x) Aset keuangan sukuk (lanjutan) Klasifikasi sukuk adalah sebagai berikut (lanjutan):

Sukuk classifications (continued):

b.

b.

Diukur pada nilai wajar melalui penghasilan komprehensif lain •

• •

•

c.

POLICIES

as

follows

Measured at fair value through other comprehensive income •

Investasi tersebut dimiliki dalam suatu model usaha yang bertujuan utama untuk memperoleh arus kas kontraktual dan melakukan penjualan sukuk, terdapat persyaratan kontraktual dalam menentukan tanggal tertentu atas pembayaran pokok dan atau hasilnya. Biaya perolehan sukuk termasuk biaya transaksi. Selisih antara biaya perolehan dan nilai nominal diamortisasi secara garis lurus selama jangka waktu sukuk dan diakui dalam laba rugi.

are

The investment is held in a business model whereby the primary goal is to obtain contractual cash flows and to sell the Sukuk, and has contractual terms in determining the specific date of principal payments and or the results.

• Sukuk acquisition cost includes transaction cost. • The difference between acquisition cost and the nominal value is amortized on a straightline basis over the period of the sukuk and is recognized in profit or loss. • Gain or loss from changes of fair value is recognized in other comprehensive income after considering unamortized difference of acquisition cost and nominal value and accumulated gain or loss of fair value which has previously recognized in other comprehensive income. When sukuk is derecognized, accumulated gain or loss which has previously recognized in other comprehensive income is reclassified to profit or loss.

Keuntungan atau kerugian dari perubahan nilai wajar diakui dalam penghasilan komprehensif lain setelah memperhitungkan saldo selisih biaya perolehan dan nilai nominal yang belum diamortisasi dan saldo akumulasi keuntungan dan kerugian nilai wajar yang telah diakui dalam penghasilan komprehensif lain sebelumnya. Ketika investasi sukuk dihentikan pengakuannya, akumulasi keuntungan atau kerugian yang sebelumnya diakui dalam penghasilan komprehensif lain direklasifikasi ke laba rugi. c.

Diukur pada nilai wajar melalui laba rugi

Measured at fair value through profit or loss

Biaya perolehan sukuk tidak termasuk biaya transaksi. Selisih antara nilai wajar dan jumlah tercatat diakui dalam laba rugi.

• Sukuk acquisition cost does not include transaction cost. • The difference between fair value and the carrying value is recognized in profit or loss.

Semua investasi sukuk Bank dilakukan dengan akad ijarah.

All investment in sukuk of Bank was done under ijarah contracts.

• •

30





c.

2.

Transaksi dengan pihak-pihak berelasi

SUMMARY (continued) c.

OF

ACCOUNTING

POLICIES

Transaction with related parties

Bank melakukan transaksi dengan pihak-pihak berelasi seperti yang didefinisikan dalam PSAK No. 7 (Revisi 2010) tentang “Pengungkapan Pihak-pihak Berelasi”.

Bank engage in transactions with related parties as defined in SFAS No. 7 (Revised 2010) on “Related Party Disclosures”.

Suatu pihak dianggap pihak berelasi dengan Bank jika:

A party is considered as a related party of the Bank if:

(1) langsung, atau tidak langsung yang melalui satu atau lebih perantara, suatu pihak (i) mengendalikan, atau dikendalikan oleh, atau berada di bawah pengendalian bersama, dengan Bank; (ii) memiliki kepentingan dalam Bank yang memberikan pengaruh signifikan atas Bank; atau (iii) memiliki pengendalian bersama atas Bank; (2) suatu pihak yang berada dalam kelompok usaha yang sama dengan Bank; (3) suatu pihak adalah ventura bersama di mana Bank sebagai venturer; (4) suatu pihak adalah anggota dari personil manajemen kunci Bank; (5) suatu pihak adalah anggota keluarga dekat dari individu yang diuraikan dalam butir (1) atau (4); (6) suatu pihak adalah entitas yang dikendalikan, dikendalikan bersama atau dipengaruhi signifikan oleh atau untuk pihak yang memiliki hak suara signifikan pada beberapa entitas, langsung maupun tidak langsung, yaitu individu seperti diuraikan dalam butir (4) atau (5); (7) suatu pihak adalah suatu program imbalan pasca kerja untuk imbalan kerja dari Bank atau entitas yang terkait dengan Bank.

(1) directly or indirectly through one or more intermediaries, a party (i) controls, or controlled by, or under common control with the Bank, (ii) has an interest in the Bank that provides significant influence to the Bank, or (iii) has joint control over the Bank;

Transaksi dengan pihak-pihak berelasi dilakukan dengan syarat dan kondisi yang sama dengan transaksi-transaksi dengan pihak ketiga. Transaksi yang dilakukan Bank telah memenuhi peraturan Badan Pengawas Pasar Modal dan Lembaga Keuangan No. IX.E.1 tentang “Transaksi Afiliasi dan Benturan Kepentingan Transaksi Tertentu”, pada saat transaksi-transaksi tersebut dilakukan.

Transaction with related parties conducted under terms and conditions that similar with third party transactions. These transactions is in accordance with the regulation of Capital Market and Financial Institution Supervisory Agency (“Bapepam-LK”) No. IX.E.1 regarding “Transaction with Afiliation and Certain Conflict of Interests” when the transactions are conducted.

Seluruh transaksi dan saldo yang material dengan pihak-pihak berelasi diungkapkan dalam catatan atas laporan keuangan yang relevan dan rinciannya telah disajikan dalam Catatan 30 atas laporan keuangan.

All material transactions and balances with related parties are disclosed in the relevant notes to the financial statements and the details have been presented in Note 30 to the financial statements.

(2) it is a member of the same group as the Bank; (3) it is a joint venture in which the Bank acts as a venturer; (4) it is a member of the key management personnel of the Bank; (5) it is a close family member of an individual as described in point (1) or (4); (6) it is an entity that is controlled, jointly controlled or significantly influenced by or for whom has significant voting rights in several entities, directly or indirectly, by the individuals described in point (4) or (5);

(7) it is a post-employment benefit plan program for the employee benefit of either the Bank or entities related to the Bank.

31





d.

2.

Cadangan kerugian penurunan nilai atas aset keuangan

SUMMARY (continued) d.

OF

Allowance for financial assets

ACCOUNTING

impairment

POLICIES

losses

on

Pada setiap tanggal laporan posisi keuangan, Bank mengevaluasi apakah terdapat bukti obyektif bahwa aset keuangan yang tidak dicatat pada nilai wajar melalui laba rugi telah mengalami penurunan nilai.

On each statements of financial position date, the Bank assesses whether there is an objective evidence that the financial assets not carried at fair value through profit or loss are impaired.

Aset keuangan mengalami penurunan nilai jika bukti obyektif menunjukkan bahwa peristiwa yang merugikan telah terjadi setelah pengakuan awal aset keuangan dan peristiwa tersebut berdampak pada arus kas masa datang atas aset keuangan yang dapat diestimasi secara handal.

Financial assets are impaired when an objective evidence demonstrates that a loss event has occurred after the initial recognition of the asset and that the loss event has an impact on the future cash flows of the financial asset that can be estimated reliably.

Kriteria yang digunakan oleh Bank untuk menentukan bukti obyektif dari penurunan nilai adalah sebagai berikut:

The criteria used by the Bank to determine objective evidence of impairment loss are as follows:

(1) kesulitan keuangan signifikan yang dialami penerbit atau pihak peminjam; (2) pelanggaran kontrak, seperti terjadinya wanprestasi atau tunggakan pembayaran pokok atau bunga; (3) pihak pemberi pinjaman, dengan alasan ekonomi atau hukum sehubungan dengan kesulitan keuangan yang dialami pihak peminjam, memberikan keringanan (konsesi) pada pihak peminjam yang tidak mungkin diberikan jika pihak peminjam tidak mengalami kesulitan tersebut; (4) terdapat kemungkinan bahwa pihak peminjam akan dinyatakan pailit atau melakukan reorganisasi keuangan lainnya; (5) hilangnya pasar aktif dari aset keuangan akibat kesulitan keuangan; atau

(1) significant financial difficulty of the issuer or obligor; (2) a breach of contract, such as a default or delinquency in interest or principal payments; (3) the lender, for economic or legal reasons relating to the debtor’s financial difficulty, grants the debtor a concession that the lender would not otherwise consider;

(4) it becomes probable that the debtor will enter into bankruptcy or other financial reorganization; (5) the disappearance of an active market of financial assets due to financial difficulties; or (6) observable data indicating that there is a measurable decrease in the estimated future cash flows from a portfolio of financial assets since the initial recognition of those assets, although the decrease cannot yet be identified with the individual financial assets in the portfolio, including:

(6) data yang dapat diobservasi mengindikasikan adanya penurunan yang dapat diukur atas estimasi arus kas masa datang dari kelompok aset keuangan sejak pengakuan awal aset dimaksud, meskipun penurunannya belum dapat diidentifikasi terhadap aset keuangan secara individual dalam kelompok aset tersebut, termasuk: a. memburuknya status pembayaran pihak peminjam dalam kelompok tersebut; dan b. kondisi ekonomi nasional atau lokal yang berkorelasi dengan wanprestasi atas aset dalam kelompok tersebut.

32

a.

adverse changes in the payment status of debtors in the portfolio; and

b.

national or local economic conditions that correlate with defaults on the assets in the portfolio.





d.

2.

Cadangan kerugian penurunan nilai atas aset keuangan (lanjutan)


OF

ACCOUNTING

Allowance for impairment financial assets (continued)

POLICIES

losses

on

Estimasi periode antara terjadinya peristiwa dan teridentifikasinya kerugian ditentukan oleh manajemen untuk setiap portofolio yang diidentifikasi. Pada umumnya, periode tersebut bervariasi antara 3 (tiga) sampai 12 (dua belas) bulan, untuk kasus tertentu diperlukan periode yang lebih lama.

The estimated period between the occurrence of an event and loss identification is determined by the management for each identified portfolio. In general, the period varies from 3 (three) months to 12 (twelve) months, in exceptional cases, longer period are necessary.

Bank pertama kali menentukan apakah terdapat bukti obyektif penurunan nilai secara individual atas aset keuangan yang signifikan, dan secara individual atau kolektif untuk aset keuangan yang tidak signifikan secara individual.

The Bank first assesses whether an objective evidence of impairment for financial assets that are individually significant, and individually or collectively for financial assets that are not individually significant.

Jika Bank menentukan tidak terdapat bukti obyektif mengenai penurunan nilai atas aset keuangan yang dinilai secara individual, terlepas aset keuangan tersebut signifikan atau tidak, maka Bank memasukkan aset tersebut ke dalam kelompok aset keuangan yang memiliki karakteristik risiko kredit yang serupa dan menilai penurunan nilai kelompok tersebut secara kolektif.

If the Bank determines that there is no objective evidence of impairment exists for an individually assessed financial asset, whether significant or not, it includes the asset in a group of financial assets with similar credit risk characteristics and collectively assesses them for impairment.

Aset keuangan yang penurunan nilainya dilakukan secara individual, dan untuk itu kerugian penurunan nilai telah diakui atau tetap diakui, tidak termasuk dalam penilaian penurunan nilai secara kolektif.

Financial assets that are individually assessed for impairment, and for which an impairment loss is or continues to be recognized are excluded in the collective assessment of impairment.

Bank menetapkan kredit yang harus dievaluasi penurunan nilainya secara individual, jika memenuhi salah satu kriteria di bawah ini:

The Bank determines that loans should be individually assessed for impairment, if one of the following criteria is met:

(1) Kredit yang secara individual memiliki nilai signifikan dan memiliki bukti obyektif penurunan nilai;

(1) Loans which individually have significant value and objective evidence of impairment;

(2) Kredit yang direstrukturisasi yang secara individual memiliki nilai signifikan.

(2) Restructured loans which individually have significant value.

Berdasarkan kriteria di atas, Bank melakukan penilaian secara individual untuk: (a) Pinjaman dengan kolektibilitas kurang lancar, diragukan dan macet; atau (b) Pinjaman yang direstrukturisasi yang memiliki nilai signifikan.

Based on the above criteria, the Bank performs individual assessment for: (a) loans with collectibility classification of substandard, doubtful and loss; or (b) Restructured loans which have significant value.

33





d.

2.



OF

ACCOUNTING


POLICIES

losses

on

Bank menetapkan kredit yang harus dievaluasi penurunan nilainya secara kolektif, jika memenuhi salah satu kriteria di bawah ini:

The Bank determines loans to be assessed for impairment through collective evaluation if one of the following criteria is met:

(1) Kredit yang secara individual memiliki nilai signifikan namun tidak memiliki bukti obyektif penurunan nilai;

(1) Loans which individually have significant value but there is no objective evidence of impairment;

(2) Kredit yang secara individual memiliki nilai tidak signifikan;

(2) Loans which individually have insignificant value;

(3) Kredit yang direstrukturisasi yang secara individual memiliki nilai tidak signifikan.

(3) Restructured loans which individually have insignificant value.

Berdasarkan kriteria di atas, penilaian secara kolektif dilakukan untuk pinjaman dengan kolektibilitas lancar dan dalam perhatian khusus serta tidak direstrukturisasi yang memiliki nilai tidak signifikan.

Based on the above criteria, the Bank performs collective assessment for loans with collectibility classification of current and special mention, and have never been restructured which have insignificant value.

Perhitungan cadangan kerugian penurunan nilai atas aset keuangan yang dinilai secara kolektif dikelompokkan berdasarkan karakteristik risiko kredit yang sama dengan mempertimbangkan segmentasi kredit berdasarkan pengalaman kerugian masa lalu dan kemungkinan terjadinya kegagalan (probability of default).

The calculation of allowance for impairment losses on financial assets which are assessed collectively, grouped based on similar credit risk characteristics considering the loan segmentation on the basis of historical loss experience and the probability of default.

Bank menggunakan metode migration analysis yang merupakan suatu metode analisis statistik, untuk menilai cadangan kerugian penurunan nilai atas kredit yang diberikan secara kolektif. Bank menggunakan data historis 3 (tiga) tahun dalam menghitung Probability of Default (PD) dan Loss of Given Default (LGD).

The Bank uses the migration analysis method which is a statistical model analysis method to assess allowance for impairment losses on collective loans.The Bank uses 3 (three) years historical data to compute for the Probability of Default (PD) and Loss of Given Default (LGD).

Bank menggunakan nilai wajar agunan sebagai dasar arus kas masa datang apabila memenuhi salah satu kondisi berikut:

The Bank uses the fair value of collateral as the basis for future cash flow if one of the following conditions is met:

(1) Kredit bersifat collateral dependent, yaitu jika pelunasan kredit hanya bersumber dari agunan; (2) Pengambilalihan agunan kemungkinan besar terjadi dan didukung dengan perjanjian legal pengikatan agunan.

(1) Loans are collateral dependent, i.e. if the source of loans repayment is made only from the collateral; (2) Foreclosure of collateral is most likely to occur and supported by legally binding collateral agreement.

34





d.

2.



OF

ACCOUNTING


POLICIES

losses

on

Kerugian penurunan nilai atas aset keuangan yang dicatat pada biaya perolehan diamortisasi diukur sebesar selisih antara nilai tercatat aset keuangan dengan nilai kini estimasi arus kas masa datang yang didiskonto menggunakan suku bunga efektif awal dari aset keuangan tersebut. Jika kredit yang diberikan atau efek-efek dimiliki hingga jatuh tempo memiliki suku bunga variabel, maka tingkat diskonto yang digunakan untuk mengukur setiap kerugian penurunan nilai adalah suku bunga efektif yang berlaku yang ditetapkan dalam kontrak.

Impairment losses on financial assets carried at amortized cost are measured as the difference between the carrying amount of the financial assets and present value of estimated future cash flows discounted at the financial assets original effective interest rate. If loans or held-to-maturity securities have a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

Sebagai panduan praktis, Bank dapat mengukur penurunan nilai berdasarkan nilai wajar instrumen dengan menggunakan harga pasar yang dapat diobservasi. Perhitungan nilai kini dari estimasi arus kas masa datang atas aset keuangan dengan agunan (collateralized financial asset) mencerminkan arus kas yang dapat dihasilkan dari pengambilalihan agunan dikurangi biaya-biaya untuk memperoleh dan menjual agunan, terlepas apakah pengambilalihan tersebut berpeluang terjadi atau tidak.

As a practical guideline, the Bank may measure impairment on the basis of an instrument’s fair value using an observable market price. The calculation of the present value of the estimated future cash flows of a collateralized financial asset reflects the cash flows that may result from foreclosure less costs for obtaining and selling the collateral, whether or not foreclosure is probable.

Kerugian yang terjadi diakui pada laporan laba rugi dan penghasilan komprehensif lain dan dicatat pada akun cadangan kerugian penurunan nilai sebagai pengurang terhadap aset keuangan yang dicatat pada biaya perolehan diamortisasi.

Losses are recognized in the statement of profit or loss and other comprehensive income and reflected in an allowance for impairment losses account against financial assets carried at amortized cost.

Pendapatan bunga atas aset keuangan yang mengalami penurunan nilai tetap diakui atas dasar suku bunga yang digunakan untuk mendiskonto arus kas masa datang dalam pengukuran kerugian penurunan nilai. Ketika peristiwa yang terjadi setelah penurunan nilai menyebabkan jumlah kerugian penurunan nilai berkurang, kerugian penurunan nilai yang sebelumnya diakui harus dipulihkan dan pemulihan tersebut diakui pada laporan laba rugi dan penghasilan komprehensif lain.

Interest income on the impaired financial assets continues to be recognized using the rate of interest used to discount the future cash flows for the purpose of measuring the impairment loss. When a subsequent event causes the amount of impairment loss to decrease, the impairment loss previously recognized must be recovered and the recovery is stated in the statement of profit or loss and other comprehensive income.

35




IKHTISAR KEBIJAKAN AKUNTANSI (lanjutan) d.

2.



OF

ACCOUNTING


POLICIES losses

on

Untuk aset keuangan yang tersedia untuk dijual, pada setiap tanggal laporan posisi keuangan, Bank mengevaluasi apakah terdapat bukti obyektif bahwa aset keuangan atau kelompok aset keuangan mengalami penurunan nilai. Penurunan yang signifikan atau penurunan jangka panjang atas nilai wajar investasi dalam instrumen ekuitas di bawah biaya perolehannya merupakan bukti obyektif terjadinya penurunan nilai dan menyebabkan pengakuan kerugian penurunan nilai. Kerugian penurunan nilai atas efek-efek yang tersedia untuk dijual diakui dengan mengeluarkan kerugian kumulatif yang telah diakui secara langsung dalam ekuitas ke dalam laporan laba rugi dan penghasilan komprehensif lain.

For financial assets classified as available-forsale, the Bank assesses at each statement of financial position dates whether there is an objective evidence that a financial asset or a group of financial assets is impaired. In the case of equity instruments, a significant or prolonged decline in the fair value of the security below its cost is an objective evidence of impairment resulting in the recognition of an impairment loss. Impairment losses on available-for-sale securities are recognized by transferring the cumulative loss that has been recognized directly in equity to the statement of profit or loss and other comprehensive income.

Jumlah kerugian kumulatif yang dikeluarkan dari ekuitas dan diakui pada laporan laba rugi dan penghasilan komprehensif lain merupakan selisih antara biaya perolehan (setelah dikurangi dengan nilai pelunasan pokok dan amortisasi) dengan nilai wajar kini, dikurangi kerugian penurunan nilai aset keuangan yang sebelumnya telah diakui pada laporan laba rugi dan penghasilan komprehensif lain.

The cumulative loss that has been removed from equity and recognized in the statement of profit or loss and other comprehensive income is the difference between the acquisition cost (net of any principal repayment and amortization) and the current fair value, less any impairment loss previously recognized in the statement of profit or loss and other comprehensive income.

Kerugian penurunan nilai yang diakui pada laporan laba rugi dan penghasilan komprehensif lain atas investasi instrumen ekuitas yang diklasifikasikan sebagai instrumen ekuitas yang tersedia untuk dijual tidak boleh dipulihkan melalui pembalikan atas penurunan nilai sebelumnya pada laporan laba rugi dan penghasilan komprehensif lain pada tahun berjalan.

Impairment losses recognized in the statement of profit or loss and other comprehensive income on available-for-sale equity instruments should not be recovered through a reversal of a previously recognized impairment loss in the current year statement of profit or loss and other comprehensive income.

Jika pada periode berikutnya, nilai wajar instrumen utang yang diklasifikasikan dalam kelompok tersedia untuk dijual meningkat dan peningkatan tersebut dapat secara obyektif dihubungkan dengan peristiwa yang terjadi setelah pengakuan kerugian nilai pada laporan laba rugi dan penghasilan komprehensif lain, maka kerugian penurunan nilai tersebut harus dipulihkan melalui laporan laba rugi dan penghasilan komprehensif lain.

If in a subsequent period, the fair value of debt instrument classified as available-for-sale securities increases and the increase can be objectively related to an event occurring after the impairment loss was recognized in the statements of profit or loss and other comprehensive income, the impairment loss is reversed, with the amount of reversal recognized in the statements of profit or loss and other comprehensive income.

36





d.

2.



OF

ACCOUNTING


POLICIES

losses

on

Jika persyaratan kredit yang diberikan dan efek-efek yang dimiliki hingga jatuh tempo dinegosiasi ulang atau dimodifikasi karena debitur atau penerbit mengalami kesulitan keuangan, maka penurunan nilai diukur dengan suku bunga efektif awal yang digunakan sebelum persyaratan diubah.

If the terms of the loans and held-to-maturity securities are renegotiated or otherwise modified because of financial difficulties of the borrower or issuer, impairment is measured using the original effective interest rate before the modification of terms.

Jika pada suatu periode berikutnya, jumlah kerugian penurunan nilai berkurang dan pengurangan tersebut dapat dikaitkan secara obyektif pada peristiwa yang terjadi setelah penurunan nilai diakui (seperti meningkatnya peringkat kredit debitur atau penerbit), maka kerugian penurunan nilai yang sebelumnya diakui harus dipulihkan, dengan menyesuaikan akun cadangan.

If in the next period, the amount of allowance for impairment losses is decreased and the decrease can be related objectively to an event that occured after the recognition of the impairment losses (e.g. upgrade of debtor’s or issuer’s collectibility rating), the impairment loss that was previously recognized has to be reversed, by adjusting the allowance account.

Jumlah pemulihan aset keuangan diakui pada laporan laba rugi dan penghasilan komprehensif lain pada tahun berjalan.

The reversal amount of financial assets is recognized in the current year statements of profit or loss and other comprehensive income.

Penerimaan kembali atas aset keuangan yang diberikan yang telah dihapusbukukan, pada tahun berjalan dikreditkan dengan menyesuaikan akun cadangan kerugian penurunan nilai.

The recoveries of written-off financial assets in the current year are credited by adjusting the allowance for impairment losses accounts.

Penerimaan kembali atas aset keuangan yang telah dihapusbukukan pada tahun-tahun sebelumnya dicatat sebagai pendapatan operasional selain bunga.

Recoveries of written-off financial assets from previous years are recorded as operational income other than interest income.

Sehubungan dengan kepatuhan terhadap Bank Indonesia (OJK), Bank menerapkan Peraturan Bank Indonesia No. 14/15/PBI/2012 tanggal 24 Oktober 2012 tentang “Penilaian Kualitas Aset Bank Umum” dan Peraturan Otoritas Jasa Keuangan (POJK) No. 11/POJK.03/2015 tanggal 21 Agustus 2015 tentang “Ketentuan Kehati-hatian dalam Rangka Stimulus Perekonomian Nasional bagi Bank Umum” yang berlaku sampai dengan 24 Agustus 2017.

In connection with compliance to Bank Indonesia (OJK), Bank implemented Bank Indonesia Regulation No. 14/15/PBI/2012 dated October 24, 2012 on “Assessment of Commercial Bank Asset Quality” and Regulation of the Financial Services Authority (POJK) No. 11/POJK.03/2015 dated August 21, 2015 on “Prudential Provisions in relation to the National Economic Stimulus for Commercial Banks” which is valid until August 24, 2017.

37





d.

2.




POLICIES

losses

on

The minimum allowance should be provided based on Bank Indonesia (OJK) regulation, as follows:

(1) 1% dari aset produktif yang digolongkan Lancar, di luar penempatan pada Bank Indonesia, Obligasi Pemerintah, instrumen hutang lain yang diterbitkan oleh Pemerintah Republik Indonesia dan aktiva produktif yang dijamin dengan agunan tunai; (2) 5% dari aset produktif yang digolongkan Dalam Perhatian Khusus setelah dikurangi agunan; (3) 15% dari aset produktif yang digolongkan Kurang Lancar setelah dikurangi agunan;

(1) 1% from earning assets classified as Current, exclude placement with Bank Indonesia, Government Bonds, other debt instruments issued by the Government of the Republic of Indonesia and earning assets with cash collateral; (2) 5% from earning assets classified as Special Mention, net of deductible collaterals; (3) 15% from earning assets classified as Substandards, net of deductible collaterals; (4) 50% from earning assets classified as Doubtful, net of deductible collaterals; and (5) 100% from earning assets classified as Loss, net of deductible collaterals.

The criteria for assessment of the value of collateral that can be deducted in the calculation of allowance for impairment losses are based on Bank Indonesia (OJK) Regulations.

Kriteria penilaian nilai agunan yang dapat dikurangkan dalam pembentukan cadangan kerugian penurunan nilai sesuai dengan Peraturan Bank Indonesia (OJK).

Giro pada Bank Indonesia dan bank lain

e.

Current accounts with Bank Indonesia and other banks Current accounts with Bank Indonesia and other banks are stated at amortized cost using the effective interest method less allowance for impairment losses. The current accounts with Bank Indonesia and other banks are classified as loans and receivables.

Giro pada Bank Indonesia dan bank lain dinyatakan sebesar biaya perolehan diamortisasi menggunakan metode suku bunga efektif dikurangi cadangan kerugian penurunan nilai. Giro pada Bank Indonesia dan bank lain diklasifikasikan sebagai kredit yang diberikan dan piutang. f.

ACCOUNTING

Cadangan kerugian minimum yang harus dibentuk sesuai dengan Peraturan Bank Indonesia (OJK) adalah sebagai berikut:

(4) 50% dari aset produktif yang digolongkan Diragukan setelah dikurangi agunan; dan (5) 100% dari aset produktif yang digolongkan Macet setelah dikurangi agunan.

e.

OF

Penempatan pada Bank Indonesia dan bank lain

f.

Placements with Bank Indonesia and other Banks Placements with Bank Indonesia consists of placements in the form of Deposit Facility, while placements with other banks represent placements in the form of inter-bank call money.

Penempatan pada Bank Indonesia terdiri dari penanaman dana pada Bank Indonesia berupa Deposit Facility, sedangkan penempatan dana pada bank lain merupakan penanaman dana dalam bentuk penempatan pada pasar uang (inter-bank call money).

38





f.

2.

Penempatan pada Bank Indonesia dan bank lain (lanjutan)

SUMMARY (continued) f.

ACCOUNTING

POLICIES

Placements with Bank Indonesia and other Banks (continued) Placements with Bank Indonesia and other banks are stated at amortized cost using the effective interest rate method less allowance for impairment losses. Placements with Bank Indonesia and other banks are classified as loans and receivables.

Penempatan pada Bank Indonesia dan bank lain dinyatakan sebesar biaya perolehan diamortisasi menggunakan metode suku bunga efektif dikurangi cadangan kerugian penurunan nilai. Penempatan pada Bank Indonesia dan bank lain diklasifikasikan sebagai kredit yang diberikan dan piutang. g.

OF

Efek-efek

g.

Securities

Efek-efek yang dimiliki terdiri dari Sertifikat Bank Indonesia, Obligasi Pemerintah, unit penyertaan reksadana, medium term note, negotiable certificate of deposit, dan obligasi lain yang diperoleh melalui pasar perdana dan sekunder.

Securities consist of Bank Indonesia Certificates, Government bonds, mutual fund units, medium term note, negotiable certificate of deposit, and other bonds acquired through the primary and secondary markets.

Efek-efek pada awalnya disajikan sebesar nilai wajarnya. Setelah pengakuan awal, efek-efek dicatat sesuai dengan kategorinya yaitu tersedia untuk dijual, dimiliki hingga jatuh tempo atau nilai wajar melalui laporan laba rugi.

Securities are initially measured at fair value. After the initial recognition, the securities are measured according to their classification, i.e. available-for-sale, held-to-maturity or at fair value through profit or loss.

Penilaian efek-efek didasarkan klasifikasinya sebagai berikut:

atas

The value of securities is stated based on the classification as follows:

(1) Efek-efek yang dimiliki hingga jatuh tempo dicatat pada biaya perolehan yang diamortisasi menggunakan metode suku bunga efektif.

(1) Held-to-maturity securities are carried at amortized cost using the effective interest rate method.

Bank tidak mengklasifikasikan efek-efek sebagai aset keuangan dimiliki hingga jatuh tempo, jika dalam tahun berjalan atau dalam kurun waktu dua tahun sebelumnya, Bank telah menjual atau mereklasifikasi efek-efek dimiliki hingga jatuh tempo dalam jumlah yang lebih dari jumlah yang tidak signifikan (more than insignificant) sebelum jatuh tempo selain dari pada penjualan atau reklasifikasi yang telah dijelaskan dalam PSAK No. 55 yang dapat diaplikasikan dalam periode yang relevan.

The Bank does not classify securities as held-to-maturity financial assets if the Bank has, during the current financial year or during the two preceding financial years, sold or reclassified more than an insignificant amount of held-to-maturity securities before maturity other than sales or reclassifications that are defined in SFAS No. 55 which is applicable in the relevant periods.

39





g.

Efek-efek (lanjutan)

SUMMARY (continued) g.

OF

ACCOUNTING

POLICIES

Securities (continued)

atas

The value of securities is stated based on the classification as follows (continued):

(2) Efek-efek yang dimiliki untuk diperdagangkan dinyatakan pada nilai wajar. Keuntungan dan kerugian yang timbul dari perubahan nilai wajar diakui dalam laporan laba rugi dan penghasilan komprehensif lain.

(2) Securities classified as fair value through profit or loss are stated at fair value. Gains and losses from changes in fair value are recognized in the statements of profit or loss and other comprehensive income.

(3) Efek-efek yang diklasifikasikan sebagai investasi tersedia untuk dijual dinyatakan pada nilai wajar. Pendapatan bunga diakui dalam laporan laba rugi dan penghasilan komprehensif lain menggunakan metode suku bunga efektif. Laba atau rugi selisih kurs atas efek-efek yang tersedia untuk dijual diakui pada laporan laba rugi dan penghasilan komprehensif lain. Perubahan nilai wajar lainnya diakui secara langsung dalam ekuitas sampai dengan efek-efek tersebut dijual atau mengalami penurunan nilai, dimana keuntungan dan kerugian kumulatif yang sebelumnya diakui dalam ekuitas harus diakui pada laporan laba rugi dan penghasilan komprehensif lain.

(3) Securities classified as available-for-sale are stated at fair value. Interest income is recognized in the statements of profit or loss and other comprehensive income using the effective interest rate method. Foreign exchange gains or losses on available-for-sale securities are recognized in the statements of profit or loss and other comprehensive income. Other fair value changes are recognized directly in equity until the securities are sold or impaired, whereby the cumulative gains and losses previously recognized in equity are recognized in the statements of profit or loss and other comprehensive income.

Penilaian efek-efek didasarkan klasifikasinya sebagai berikut (lanjutan):

h.

2.

Kredit yang diberikan

h.

Loans

Kredit yang diberikan adalah penyediaan uang atau tagihan yang dapat disetarakan dengan itu, berdasarkan persetujuan atau kesepakatan pinjam-meminjam dengan debitur yang mewajibkan debitur untuk melunasi utangnya setelah jangka waktu tertentu dan membayar imbalan bunga.

Loans represent the lending of money or equivalent receivables, under contract or borrowing and lending commitment with debtors, whereby the debtors are required to repay their debts with interest after a specified period of time.

Kredit yang diberikan pada awalnya diukur pada nilai wajar ditambah dengan biaya transaksi yang dapat diatribusikan secara langsung dan merupakan biaya tambahan untuk memperoleh aset keuangan tersebut, dan setelah pengakuan awal diukur pada biaya perolehan diamortisasi menggunakan metode suku bunga efektif dikurangi dengan cadangan kerugian penurunan nilai.

Loans are initially measured at fair value plus transaction costs that are directly attributable and is the additional costs to obtain the financial assets, and after initial recognition are measured at amortized cost based on the effective interest rate method less allowance for impairment losses.

Kredit yang diberikan diklasifikasikan sebagai kredit yang diberikan dan piutang.

Loans are classified as loans and receivables.

40





h.

i.

2.

Kredit yang diberikan (lanjutan)

SUMMARY (continued) h.

OF

ACCOUNTING

POLICIES

Loans (continued)

Kredit dalam rangka pembiayaan bersama (kredit sindikasi) dinyatakan sebesar pokok kredit sesuai dengan porsi risiko yang ditanggung oleh Bank.

Loans extended under syndication agreements are recognized at the nominal amount to the extent of the risks, borne by the Bank.

Kredit yang direstrukturisasi disajikan sebesar nilai yang lebih rendah antara nilai tercatat kredit pada tanggal restrukturisasi atau nilai tunai penerimaan kas masa depan setelah restrukturisasi. Kerugian akibat selisih antara nilai tercatat kredit pada tanggal restrukturisasi dan nilai tunai penerimaan kas masa depan setelah restrukturisasi diakui dalam laporan laba rugi dan penghasilan komprehensif lain. Setelah restrukturisasi, semua penerimaan kas masa depan yang ditetapkan dalam persyaratan baru dicatat sebagai pengembalian pokok kredit yang diberikan dan pendapatan bunga sesuai dengan syaratsyarat restrukturisasi.

Restructured loans are stated at the lower of carrying value on the date of restructuring or net preset value of the total future cash receipts after restructuring. Losses arising from any excess of the carrying value of the loan at the time of restructuring over the net present value of the total future cash receipts after restructuring are recognized in the statements of profit or loss and other comprehensive income. Thereafter, all cash receipts under the new terms shall be accounted for as the recovery of principal and interest income, in accordance with the restructuring scheme.

Kredit yang diberikan dihapusbukukan ketika tidak terdapat prospek yang realistis mengenai pengembalian di masa datang dan semua jaminan telah diupayakan untuk direalisasi atau sudah diambil alih. Kredit yang tidak dapat dilunasi dihapusbukukan dengan mendebit cadangan kerugian penurunan nilai. Pelunasan kemudian atas kredit yang telah dihapusbukukan sebelumnya, dikreditkan ke cadangan kerugian penurunan nilai di Laporan Posisi Keuangan.

Loans are written-off when there are no realistic prospect of future recovery and all collateral have been realized or have been foreclosed. When loans are deemed uncollectibe, it is written-off against the related allowance for impairment losses. Subsequent recoveries of loans written-off are credited to the allowance for impairment losses in the statements of financial position.

Tagihan dan liabilitas akseptasi

i.

Acceptances receivable and payable

Tagihan dan liabilitas akseptasi merupakan transaksi letter of credit (L/C) dan Surat Kredit Berdokumen Dalam Negeri (SKBDN) yang diaksep oleh bank pengaksep (accepting bank).

Acceptances receivable and payable represent letter of credit (L/C) and Domestic Documentary Letters of Credit transactions that have been accepted by the accepting bank.

Tagihan dan liabilitas akseptasi dinyatakan sebesar biaya perolehan diamortisasi. Tagihan akseptasi disajikan setelah dikurangi cadangan kerugian penurunan nilai.

Acceptances receivable and payable are stated at amortized cost. Acceptances receivable are stated net of allowance for impairment losses.

Tagihan akseptasi diklasifikasikan sebagai kredit yang diberikan dan piutang. Liabilitas akseptasi diklasifikasikan sebagai liabilitas keuangan yang diukur dengan biaya perolehan diamortisasi.

Acceptances receivable are classified as loans and receivables. Acceptances payable are classified as financial liabilities measured at amortized cost.

41





j.

k.

2.

Penyertaan saham

SUMMARY (continued) j.

OF

ACCOUNTING

POLICIES

Investment in shares of stocks

Penyertaan saham terutama merupakan penanaman dana dalam bentuk saham pada perusahaan yang bergerak di bidang keuangan yang tidak melalui pasar modal untuk tujuan investasi jangka panjang.

Investment in shares of stocks represent investment of funds in the form of shares of non public companies engaged in financing activities for long-term investment purposes.

Investasi Bank pada entitas asosiasi diukur dengan menggunakan metode ekuitas. Entitas asosiasi adalah suatu entitas dimana Bank mempunyai pengaruh signifikan atau kepemilikan saham lebih dari 20% hak suara. Pengakuan awal investasi pada entitas asosiasi diakui sebesar biaya perolehan, dan jumlah tercatat tersebut ditambah atau dikurangkan untuk mengakui bagian Bank atas laba rugi entitas anak setelah tanggal perolehan. Bagian Bank atas laba rugi entitas anak diakui dalam laporan laba rugi dan penghasilan komprehensif lain. Penerimaan dividen dari entitas anak mengurangi nilai tercatat investasi.

Bank’s investments in its associated companies are measured using the equity method. An associated entity is an entity in which Bank has significant influence or share ownership of more than 20% of the voting rights. The initial recognition of investments in associates are recognized at cost and the carrying amount is added or subtracted to recognize the Bank’s portion of profit or loss of subsidiaries after the acquisition date. Bank’s portion of profit or loss of subsidiaries are recognized in statements of profit or loss and other comprehensive income. Dividends receipt from subsidiaries reduce the carrying amount of the investment.

Penyertaan saham pada entitas dimana Bank tidak memiliki pengaruh yang signifikan dicatat sesuai dengan PSAK No. 55 (Revisi 2014).

Investment in shares of stocks in which the Bank does not have any significant influence is stated based on SFAS No. 55 (Revised 2014).

Dividen kas yang diterima atas penyertaan saham diakui sebagai pendapatan.

Cash dividends received from investment in shares of stocks are recognized as income.

Aset tetap

k.

Premises and equipment

Aset tetap awalnya diakui sebesar biaya perolehan, yang terdiri atas harga perolehan dan biaya-biaya tambahan yang dapat diatribusikan langsung untuk membawa aset ke lokasi dan kondisi yang diinginkan supaya aset tersebut siap digunakan sesuai dengan maksud manajemen.

Premises and equipment are initially recognized at cost, which comprises its purchase price and any costs directly attributable in bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Setelah pengakuan awal, aset tetap dinyatakan pada biaya perolehan dikurangi akumulasi penyusutan dan akumulasi rugi penurunan nilai.

Subsequent to initial recognition, premises and equipment are carried at cost less any subsequent accumulated depreciation and impairment losses.

42





k.

2.

Aset tetap (lanjutan)

SUMMARY (continued) k.

OF

ACCOUNTING

POLICIES

Premises and equipment (continued)

Aset tetap yang diperoleh dalam pertukaran aset non-moneter atau kombinasi aset moneter dan non-moneter diukur pada nilai wajar, kecuali:

Premises and equipment acquired in exchange for a non-monetary asset or for a combination of monetary and non-monetary assets are measured at fair values, unless:

(i)

transaksi pertukaran tidak memiliki substansi komersial, atau nilai wajar dari aset yang diterima dan diserahkan tidak dapat diukur secara andal.

(i) the exchange transaction lacks commercial substance, or (ii) neither the fair value of the assets received nor the assets given up can be measured reliably.

Penyusutan aset dimulai pada saat aset tersebut siap untuk digunakan sesuai maksud penggunaannya dan dihitung dengan menggunakan metode garis lurus berdasarkan estimasi umur manfaat ekonomis sebagai berikut:

Depreciation of an asset starts when it is ready to use and is computed using the straight-line method based on the estimated economic useful lives of the assets as follows:

(ii)

Tahun/Years Bangunan Renovasi bangunan sewa Kendaraan Perlengkapan kantor

Persentase/Percentage

20 5 5 5

5% 20% 20% 20%

Buildings Office leasehold improvements Vehicles Office equipments

Penilaian aset tetap dilakukan atas penurunan dan kemungkinan penurunan nilai wajar aset jika terjadi peristiwa atau perubahan keadaan yang mengindikasikan bahwa nilai tercatat mungkin tidak dapat seluruhnya terealisasi.

The carrying amounts of premises and equipment are reviewed for impairment and probability of impairment when events or changes in circumstances indicate that the carrying values may not be fully recoverable.

Jumlah tercatat komponen dari suatu aset tetap dihentikan pengakuannya pada saat dilepaskan atau saat sudah tidak ada lagi manfaat ekonomik masa depan yang diekspektasikan dari penggunaan maupun pelepasannya. Laba atau rugi yang timbul dari penghentian pengakuan tersebut dimasukkan kedalam laba rugi untuk tahun dimana penghentian pengakuan tersebut dilakukan.

The carrying amount of an item of premises and equipment is derecognized upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising from the derecognition of the asset is directly included in the profit or loss when the item is derecognized.

Nilai residu, umur manfaat dan metode penyusutan dievaluasi setiap akhir tahun dan disesuaikan secara prospektif, jika diperlukan.

The asset residual values, useful lives and depreciation method are evaluated at each year end and adjusted prospectively, if necessary.

Tanah dinyatakan sebesar biaya perolehan dan tidak disusutkan.

Land are stated at cost and not depreciated.

43





k.

l.

2.

Aset tetap (lanjutan)

SUMMARY (continued) k.

OF

ACCOUNTING

POLICIES

Premises and equipment (continued)

Jika biaya perolehan tanah termasuk biaya pembongkaran, pemindahan dan restorasi lokasi, serta manfaat yang diperoleh dari pembongkaran, pemindahan dan pemugaran tersebut terbatas, maka biaya tersebut disusutkan selama periode manfaat yang diperolehnya. Dalam beberapa kasus, tanah itu sendiri memiliki umur manfaat yang terbatas, dalam hal ini, tanah tersebut disusutkan dengan cara yang mencerminkan manfaat yang diperoleh dari tanah tersebut.

If the cost of land includes the costs of site dismantlement, removal and restoration, and the benefits from the site dismantlement, removal and restoration is limited, that cost is depreciated over the period of benefits obtained. In some cases, the land itself may have a limited useful life, in which case it is depreciated in a manner that reflects the benefits to be derived from it.

Beban pemeliharaan dan perbaikan dibebankan pada operasi pada saat terjadinya. Beban pemugaran dan penambahan dalam jumlah besar dikapitalisasi kepada jumlah tercatat aset tetap terkait bila besar kemungkinan bagi Bank manfaat ekonomi masa depan menjadi lebih besar dari standar kinerja awal yang ditetapkan sebelumnya dan disusutkan sepanjang sisa masa manfaat aset tetap terkait.

Repairs and maintenance are taken to the profit or loss when these are incurred. The cost of major renovation and restoration is capitalized to the carrying amount of the related premises and equipment when it is probable that future economic benefits in excess of the originally assessed standard of performance of the existing asset and is depreciated over the remaining useful life of the related asset.

Biaya pengurusan legal hak atas tanah dalam bentuk Hak Guna Usaha (“HGU”), Hak Guna Bangunan (“HGB”) dan Hak Pakai (“HP”) ketika tanah diperoleh pertama kali diakui sebagai bagian dari biaya perolehan tanah pada akun “Aset Tetap”. Biaya pengurusan perpanjangan atau pembaruan legal hak atas tanah diakui sebagai aset tidak berwujud dan diamortisasi sepanjang umur hak hukum atau umur ekonomi tanah, mana yang lebih pendek.

The legal cost of land rights in the form of Business Usage Rights (“Hak Guna Usaha” or “HGU”), Building Usage Right (“Hak Guna Bangunan” or “HGB”) and Usage Rights (“Hak Pakai” or “HP”) when the land was initially acquired are recognized as part of the cost of the land under the “Premises and Equipment”. The extension or the legal renewal costs of land rights were recognized as intangible assets and were amortized over the shorter of the rights' legal life and land's economic life.

Penurunan nilai aset non-keuangan

l.

Impairment of non-financial assets The Bank assesses at each annual reporting period whether there is an indication that an asset may be impaired. If such indication exists, or when annual impairment testing for an asset is required, Bank will make an estimation of the asset’s recoverable amount.

Pada setiap akhir periode pelaporan, Bank menilai apakah terdapat indikasi suatu aset mengalami penurunan nilai. Jika terdapat indikasi tersebut atau pada saat pengujian tahunan atas penurunan nilai aset tertentu diperlukan, maka Bank akan membuat estimasi atas jumlah terpulihkan aset tersebut.

44





l.

Penurunan (lanjutan)

nilai

aset

2.

non-keuangan

SUMMARY (continued) l.

OF

Impairment (continued)

ACCOUNTING

of

non-financial

POLICIES

assets

Jumlah terpulihkan yang ditentukan untuk aset individual adalah jumlah yang lebih tinggi antara nilai wajar aset atau Unit Penghasil Kas (UPK) dikurangi biaya pelepasan dengan nilai pakainya, kecuali aset tersebut tidak menghasilkan arus kas masuk yang sebagian besar independen dari aset atau kelompok aset lain. Jika nilai tercatat aset lebih besar daripada nilai terpulihkannya, maka aset tersebut dianggap mengalami penurunan nilai dan nilai tercatat aset diturunkan menjadi sebesar nilai terpulihkannya. Rugi penurunan nilai dari operasi yang berkelanjutan diakui pada laporan laba rugi dan penghasilan komprehensif lain sebagai “rugi penurunan nilai”. Dalam menghitung nilai pakai, estimasi arus kas masa depan neto didiskontokan ke nilai kini dengan menggunakan tingkat diskonto sebelum pajak yang menggambarkan penilaian pasar kini atas nilai waktu uang dan risiko spesifik aset.

An asset’s recoverable amount for individual asset is the higher of an asset’s fair value or Cash Generating Unit (CGU) less costs of disposal and its value in use, unless the asset does not generate cash inflows that are largely independent from other assets or groups of assets. Where the carrying amount of an asset exceeds its recoverable amount, the asset is considered impaired and is recorded to its recoverable amount. Impairment losses of continuing operations are recognized in the statements of profit or loss and other comprehensive income as “impairment losses”. In assessing the value in use, the estimated net future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset.

Dalam menentukan nilai wajar dikurangi biaya pelepasan, mengacu pada PSAK No. 68 “Pengukuran Nilai Wajar” (Catatan 2b).

In determining fair value less costs of disposal, refer to SFAS No. 68 "Fair Value Measurements" (Note 2b).

Kerugian penurunan nilai dari operasi yang berkelanjutan, jika ada, diakui pada laporan laba rugi dan penghasilan komprehensif lain sesuai dengan kategori biaya yang konsisten dengan fungsi aset yang diturunkan nilainya.

Impairment losses of continuing operations, if any, are recognized in the statements of profit or loss and other comprehensive income under expense categories that are consistent with the functions of the impaired assets.

m. Agunan yang diambil alih

m. Foreclosed collaterals Foreclosed collaterals acquired in settlement of loans are recognized at their net realizable values or stated at their carrying amount of loans, whichever is lower. Net realizable value is the fair value of the collateral after deducting the estimated costs of disposal. The excess of loan balances which has not been paid by debtors over the value of foreclosed collaterals is charged to allowance for possible losses on loans in the current year. The difference between the value of the foreclosed collateral and the proceeds from the sale is recognized as a gain or loss at the time of sale of the collateral.

Agunan yang diambil alih sehubungan dengan penyelesaian kredit diakui sebesar nilai neto yang dapat direalisasi atau sebesar nilai tercatat dari kredit, mana yang lebih rendah. Nilai neto yang dapat direalisasi adalah nilai wajar agunan setelah dikurangi estimasi biaya pelepasan. Kelebihan saldo kredit yang diberikan, yang belum dilunasi oleh peminjam diatas nilai dari agunan yang diambil alih, dibebankan sebagai penyisihan penghapusan aset pada tahun berjalan. Selisih antara nilai agunan yang diambil alih dengan hasil penjualannya diakui sebagai keuntungan atau kerugian pada saat penjualan agunan.

45





2.

m. Agunan yang diambil alih (lanjutan)

n.

SUMMARY (continued)

p.

ACCOUNTING

POLICIES

m. Foreclosed collaterals (continued)

Manajemen mengevaluasi nilai agunan yang diambil alih secara berkala. Penyisihan kerugian agunan yang diambil alih dibentuk berdasarkan penurunan nilai agunan yang diambil alih.

Management regularly evaluates the value of foreclosed collaterals. The allowance are provided based on the impairment of foreclosed collaterals.

Beban perbaikan (reconditioning cost) yang timbul setelah pengambilalihan agunan dikapitalisasi dalam akun agunan yang diambil alih tersebut.

Reconditioning costs that occur after collateral foreclosed are capitalized to its account.

Biaya dibayar di muka

n.

Prepaid expenses Prepaid expenses are amortized over their useful lives using the straight-line method.

Biaya dibayar di muka diamortisasi selama masa manfaat dengan menggunakan metode garis lurus (straight line method). o.

OF

Liabilitas segera

o.


Liabilitas segera dicatat pada saat liabilitas kepada masyarakat maupun kepada bank lain timbul.

Liabilities due immediately are recorded at the time of the liabilities to public or other banks arise.

Akun ini diklasifikasikan sebagai liabilitas keuangan dan dihitung berdasarkan biaya perolehan diamortisasi.

This account is classified as financial liabilities and is recorded at amortized cost.

Simpanan nasabah dan bank lain

p.

Deposits from customers and other banks

Giro merupakan simpanan nasabah yang penarikannya dapat dilakukan setiap saat menggunakan cek, atau dengan cara pemindahbukuan dengan bilyet giro atau sarana perintah pembayaran lainnya. Giro dinyatakan sebesar nilai liabilitas kepada pemegang giro.

Demand deposits represent funds deposited by customers which can be withdrawn any time by using a cheque, or through transfer with a bank draft or other forms of payment order. These demand deposits are stated at the amount due to the account holder.

Tabungan merupakan simpanan nasabah yang penarikannya hanya dapat dilakukan menurut syarat tertentu yang disepakati. Tabungan dinyatakan sebesar nilai liabilitas kepada pemilik tabungan.

Saving deposits represent customers' funds which the depositors are entitled to withdraw under certain agreed conditions. Saving deposits are stated at the amount due to the account holders.

46





p.

q.

2.

Simpanan nasabah dan bank lain (lanjutan)

SUMMARY (continued) p.

OF

ACCOUNTING

POLICIES

Deposits from customers and other banks (continued)

Deposito berjangka merupakan simpanan nasabah yang penarikannya hanya dapat dilakukan pada waktu tertentu sesuai perjanjian antara penyimpan dengan Bank. Deposito berjangka dinyatakan sebesar nilai nominal yang tercantum dalam bilyet deposito atau yang diperjanjikan.

Time deposits represent funds deposited by customers that can be withdrawn only at a certain point of time as stated in the contract between the depositor and the Bank. Time deposits are recorded at the nominal amount stated in the deposit certificate or at the amount stated in the agreement.

Simpanan dari bank lain terdiri dari liabilitas terhadap bank lain, baik lokal maupun luar negeri, dalam bentuk giro, tabungan, deposito berjangka dan inter-bank call money serta dinyatakan sesuai dengan jumlah liabilitas terhadap bank tersebut.

Deposits from other banks consist of liabilities to other banks, either domestic or overseas, in the form of demand deposits, saving deposits, time deposits and inter-bank call money and stated at the amount due to banks.

Simpanan nasabah dan bank lain diklasifikasikan sebagai liabilitas keuangan yang diukur dengan biaya perolehan diamortisasi menggunakan metode suku bunga efektif. Biaya tambahan yang dapat diatribusikan secara langsung dengan perolehan simpanan nasabah dikurangkan dari jumlah simpanan yang diterima.

Deposits from customers and other banks are classified as financial liabilities measured at amortized cost using effective interest rate method. Incremental costs directly attributable to the acquisition of deposits from customers are deducted from the amount of deposits.

Provisi

q.

Provisions

Provisi diakui jika Bank memiliki kewajiban kini (baik bersifat hukum maupun bersifat konstruktif) yang, akibat peristiwa masa lalu, besar kemungkinannya penyelesaian kewajiban tersebut mengakibatkan arus keluar sumber daya yang mengandung manfaat ekonomi dan estimasi yang andal mengenai jumlah kewajiban tersebut dapat dibuat.

Provisions are recognized when the Bank has a present obligation (legal or constructive) where, as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation.

Provisi ditelaah pada setiap tanggal pelaporan dan disesuaikan untuk mencerminkan estimasi terbaik yang paling kini. Jika arus keluar sumber daya untuk menyelesaikan kewajiban kemungkinan besar tidak terjadi, maka provisi dibalik.

Provisions are reviewed at each reporting date and adjusted to reflect the current best estimate. If it is no longer probable that an outflow of resources embodying economic benefits will be required to settle the obligation, the provision is reversed.

47





r.

s.

2.

Pendapatan dan beban bunga

SUMMARY (continued) r.

OF

ACCOUNTING

POLICIES

Interest income and expense

Pendapatan dan beban bunga untuk semua instrumen keuangan yang dikenakan suku bunga diakui pada laporan laba rugi dan penghasilan komprehensif lain dengan menggunakan metode suku bunga efektif.

Interest income and expense for all interestbearing financial instruments are recognized in the statement of profit or loss and other comprehensive income using the effective interest rate method.

Suku bunga efektif adalah suku bunga yang secara tepat mendiskontokan estimasi pembayaran atau penerimaan kas di masa datang selama perkiraan umur dari aset keuangan atau liabilitas keuangan (atau, jika lebih tepat, digunakan periode yang lebih singkat) untuk memperoleh nilai tercatat neto dari aset keuangan atau liabilitas keuangan.

The effective interest rate is the rate that precisely discounts the estimated future cash payments or receipts over the expected life of the financial assets and financial liabilities (or, wherever appropriate, a shorter period) to the net carrying amount of the financial asset or financial liabilities.

Pada saat menghitung suku bunga efektif, Bank mengestimasi arus kas di masa datang dengan mempertimbangkan seluruh persyaratan kontraktual dalam instrumen keuangan tersebut, tetapi tidak mempertimbangkan kerugian kredit di masa mendatang.

When calculating the effective interest rate, the Bank estimates future cash flows considering all contractual terms of the financial instrument but not future credit losses.

Perhitungan ini mencakup seluruh komisi, provisi dan bentuk lain diterima oleh para pihak dalam kontrak yang merupakan bagian tidak terpisahkan dari suku bunga efektif, biaya transaksi dan seluruh premi atau diskon lainnya.

This calculation includes all commissions, fees and other forms received by the parties in the contract that are an integral part of the effective interest rate, transaction costs and all other premiums or discounts.

Jika aset keuangan atau kelompok aset keuangan serupa telah diturunkan nilainya sebagai akibat kerugian penurunan nilai, maka pendapatan bunga yang diperoleh setelahnya diakui berdasarkan suku bunga efektif yang digunakan untuk mendiskonto arus kas masa datang dalam menghitung kerugian penurunan nilai.

If a financial asset or group of similar financial assets has decreased its value as a result of impairment losses, interest income subsequently obtained is recognized based on the effective interest rate used to discount future cash flows in calculating impairment losses.

Pendapatan provisi dan komisi

s.

Fees and commisions Fees and commissions directly related to lending activities, or fees and commissions income which relates to a specific period, are amortized over the term of the contract using the effective interest rate method and classified as part of interest income in the statements of profit or loss and other comprehensive income.

Pendapatan provisi dan komisi yang berkaitan langsung dengan kegiatan pemberian kredit, atau pendapatan provisi dan komisi yang berhubungan dengan jangka waktu tertentu, diamortisasi sesuai dengan jangka waktu kontrak menggunakan metode suku bunga efektif dan diklasifikasikan sebagai bagian dari pendapatan bunga pada laporan laba rugi dan penghasilan komprehensif lain.

48





s.

2.

Pendapatan provisi dan komisi (lanjutan)

SUMMARY (continued) s.

ACCOUNTING

POLICIES

Fees and commisions (continued) Fees and commissions which are not directly related to lending activities, or to a specific period, and/or related to a service renderred, are recognized as income at the time of the transactions and recorded in other operating income.

Pendapatan provisi dan komisi yang tidak berkaitan dengan kegiatan pemberian kredit atau suatu jangka waktu dan/atau terkait dengan pemberian suatu jasa, diakui sebagai pendapatan pada saat terjadinya transaksi dan dicatat pada akun pendapatan operasional lainnya. t.

OF

Imbalan kerja dan dana pensiun

t.

Employee benefits and pension plan

Imbalan kerja jangka pendek

Short-term employee benefits

Imbalan kerja jangka pendek seperti upah, iuran jaminan sosial, cuti jangka pendek, bonus dan imbalan non moneter lainnya diakui selama periode jasa diberikan. Imbalan jangka pendek dihitung sebesar jumlah yang tidak didiskontokan.

Short-term employee benefits such as salaries, social security contributions, shortterm leaves, bonuses and other non-monetary benefits are recognized during the period when services have been rendered. Shortterm employee benefits are measured using undiscounted amounts.

Program pensiun iuran pasti

Defined contribution plan

Iuran kepada dana pensiun sebesar persentase tertentu gaji pegawai yang menjadi peserta program pensiun iuran pasti Bank. Iuran dicadangkan dan diakui sebagai biaya ketika jasa telah diberikan oleh pegawaipegawai tersebut dan pembayaran dikurangkan dari utang iuran. Iuran terhutang dihitung berdasarkan jumlah yang tidak didiskontokan.

Contribution payable to the pension fund equivalent to a certain percentage of salaries for qualified employees under the Bank’s defined contribution plan. The contribution is accrued and recognized as expense when services have been rendered by qualified employees and actual payments are deducted from the contribution payable. Contribution payable is measured using undiscounted amounts.

Program imbalan pasti dan imbalan kerja jangka panjang lainnya

Defined benefit plan and other long-term employee benefits

Imbalan pasca kerja dan imbalan kerja jangka panjang lainnya seperti cuti besar dan Masa Persiapan Pensiun (MPP) dicadangkan dan diakui sebagai biaya ketika jasa telah diberikan oleh pegawai yang memenuhi syarat. Imbalan kerja ditentukan berdasarkan peraturan Bank dan persyaratan minimum Undang-undang Tenaga Kerja No.13/2003.

The post-employment benefits and other longterm employee benefits such as grand leaves and Pension Preparation Period (MPP) are accrued and recognized as expense when services have been rendered by qualified employees. The benefits are determined based on Bank’s regulations and the minimum requirements of Labor Law No. 13/2003.

Imbalan pasca-kerja dan imbalan kerja jangka panjang lainnya secara aktuaris ditentukan berdasarkan metode Projected Unit Credit.

The post-employment benefits and other longterm employee benefits are actuarially determined using the Projected Unit Credit Method.

49





t.

u.

2.

Imbalan kerja dan dana pensiun (lanjutan)

SUMMARY (continued) t.

OF

ACCOUNTING

Employee benefits (continued)

and

POLICIES

pension

plan

Program imbalan pasti dan imbalan kerja jangka panjang lainnya (lanjutan)

Defined benefit plan and other long-term employee benefits (continued)

Pengukuran kembali atas liabilitas (aset) imbalan pasti neto, yang diakui sebagai penghasilan komprehensif lain, terdiri atas:

Remeasurement of net defined benefit liabilities (assets), which is recognized as other comprehensive income, consist of:

(i)

(i)

Keuntungan dan kerugian aktuarial.

Actuarial gains and losses.

(ii) Imbal hasil atas aset program, tidak termasuk jumlah yang dimasukkan dalam bunga neto atas liabilitas (aset).

(ii) Return on plan assets, excluding amounts that included in net interest on liabilities (assets).

(iii) Setiap perubahan dampak batas aset, tidak termasuk jumlah yang dimasukkan dalam bunga neto atas liabilitas (aset).

(iii) The changes in the impact of the asset ceiling, excluding amounts that included in net interest on liabilities (assets).

Pengukuran kembali atas liabilitas (aset) imbalan pasti neto, yang diakui sebagai penghasilan komprehensif lain tidak direklasifikasi ke laba rugi pada periode berikutnya.

Remeasurement of net defined benefit liabilities (assets), which is recognized as other comprehensive income are not reclassified to profit or loss in subsequent periods.

Untuk imbalan kerja jangka panjang lain atas biaya jasa kini, biaya bunga neto atas liabilitas (aset) imbalan pasti neto, dan pengukuran kembali liabilitas (aset) imbalan pasti neto langsung diakui pada laporan laba rugi dan penghasilan komprehensif lain tahun berjalan.

For other long-term employee benefits over the current service cost, net interest on net defined benefit liabilities (assets), and the remeasurement of net defined benefit liability (asset) obligations are recognized immediately in the current statements of profit or loss and other comprehensive income.

Biaya jasa lalu diakui sebagai beban pada tanggal yang lebih awal antara ketika amandemen atau kurtailmen program terjadi, dan ketika biaya restrukturisasi atau pesangon diakui, sehingga biaya jasa lalu yang belum vested tidak lagi dapat ditangguhkan dan diakui selama periode vesting masa depan.

All past service costs are recognised at the earlier of when the amendment or curtailment occurs, and when the related restructuring or termination costs are recognized, as a result, unvested past service cost can no longer be deferred and recognised over the future vesting period.

Laba per saham

u.

Earnings per share Basic earnings per share is calculated by dividing income for the year by the weighted average number of issued and fully paid shares during the related year.

Laba per lembar saham dasar dihitung dengan membagi laba tahun berjalan dengan jumlah rata-rata tertimbang saham yang ditempatkan dan disetor penuh pada tahun yang bersangkutan.

50





v.

2.

Transaksi dan saldo dalam mata uang asing

SUMMARY (continued) v.

Foreign balances

OF

ACCOUNTING

currency

POLICIES

transactions

and

Bank menyelenggarakan catatan akuntansinya dalam Rupiah. Transaksi yang melibatkan mata uang asing dicatat pada nilai tukar pada saat terjadinya transaksi. Pada tanggal laporan posisi keuangan, aset dan liabilitas moneter dalam mata uang asing dijabarkan ke dalam mata uang Rupiah dengan menggunakan kurs spot Reuters pada pukul 16:00 WIB (Waktu Indonesia Bagian Barat). Keuntungan atau kerugian yang timbul sebagai akibat dari penjabaran aset dan liabilitas moneter dalam mata uang asing dicatat dalam laporan laba rugi dan penghasilan komprehensif lain tahun berjalan.

The Bank maintains its accounting records in Indonesian Rupiah. Transactions in foreign currencies are recorded at the prevailing exchange rates in effect on the date of the transactions. At statements of financial position dates, all monetary assets and liabilities denominated in foreign currencies are translated into Rupiah using the Reuters spot rates at 16:00 WIB (Western Indonesian Time). The resulting gains or losses from the translation of monetary assets and liabilities in foreign currencies are recognized in the statements of profit or loss and other comprehensive income for the current year.

Pada tanggal-tanggal 31 Desember 2016 dan 2015, kurs mata uang asing yang digunakan untuk penjabaran mata uang asing terhadap Rupiah adalah sebagai berikut (Rupiah penuh):

As of December 31, 2016 and 2015, the exchange rates used in translating foreign currency amounts into Rupiah are as follows (full Rupiah):


1 Dolar Amerika Serikat 1 Yen Jepang

13.472,50 115,07

w. Perpajakan

13.785,00 114,52

1 United States Dollar 1 Japanese Yen

w. Taxation

Beban pajak tahun berjalan ditetapkan berdasarkan taksiran penghasilan kena pajak tahun berjalan. Aset dan liabilitas pajak tangguhan diakui atas perbedaan temporer aset dan liabilitas antara pelaporan komersial dan pajak pada setiap tanggal pelaporan.

Current tax expense is provided based on the estimated taxable income for the current year. Deferred tax assets and liabilities are recognized for temporary differences between the financial and the tax bases of assets and liabilities at each reporting date.

Aset pajak tangguhan diakui untuk seluruh perbedaan temporer yang boleh dikurangkan dan saldo rugi fiskal yang belum dikompensasikan, sepanjang perbedaan temporer dan rugi fiskal yang belum dikompensasikan tersebut dapat dimanfaatkan untuk mengurangi laba fiskal pada masa yang akan datang.

Deferred tax assets are recognized for all deductible temporary differences and carry forward of uncompensated tax losses to the extent that it is probable for temporary differences and carry forward of uncompensated tax losses to be utilized in deducting future taxable profit.

51





2.

w. Perpajakan (lanjutan)

x.

SUMMARY (continued)

OF

ACCOUNTING

POLICIES

w. Taxation (continued)

Jumlah tercatat aset pajak tangguhan ditelaah pada setiap tanggal posisi laporan keuangan dan nilai tercatat aset pajak tangguhan tersebut diturunkan apabila tidak lagi terdapat kemungkinan besar bahwa laba fiskal yang memadai akan tersedia untuk mengkompensasi sebagian atau semua manfaat aset pajak tangguhan.

The carrying amount of deferred tax assets is reviewed at each reporting date and is reduced when it is no longer probable that sufficient taxable profits will be available to compensate part or all of the benefit of the deferred tax assets.

Aset dan kewajiban pajak tangguhan diukur berdasarkan tarif pajak yang akan berlaku pada tahun saat aset direalisasikan atau liabilitas diselesaikan berdasarkan peraturan perpajakan yang berlaku atau yang telah secara substantif telah diberlakukan pada tanggal laporan posisi keuangan.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply on the year when the asset is realized or the liability is settled based on tax laws that have been enacted or substantively enacted as at statements of financial position reporting date.

Pengaruh pajak terkait dengan penyisihan untuk dan/atau pembalikan seluruh perbedaan temporer selama tahun berjalan, termasuk pengaruh perubahan tarif pajak, diakui sebagai “Manfaat (Beban) Pajak Penghasilan, Tangguhan” dan termasuk dalam laba atau rugi neto tahun berjalan, kecuali untuk transaksi-transaksi yang sebelumnya telah langsung dibebankan atau dikreditkan ke ekuitas.

The related tax effects of the provisions for and/or reversals of all temporary differences during the year, including the effect of change in tax rates, are recognized as “Income Tax Benefit (Expense), Deferred” and included in net profit or loss for the year, except to the extent that they relate to items previously charged or credited to equity.

Perubahan terhadap kewajiban perpajakan diakui pada saat penetapan pajak diterima atau jika Bank mengajukan keberatan, pada saat keputusan atas keberatan telah ditetapkan.

Amendments to tax obligations are recorded when an assessment is received or, if appealed against by the Bank, when the result of the appeal is determined.

Aset dan liabilitas atas pajak tangguhan dan pajak kini dapat saling hapus apabila terdapat hak yang berkekuatan hukum untuk melakukan saling hapus.

Assets and liabilities of deferred and current tax are offset when there is a legally enforceable right to offset.

Segmen operasi

x.

Operating segment A segment is a distinguishable component of the business unit that is engaged either in providing certain products (business segment), or in providing products within a particular economic environment (geographical segment), which is subject to risks and rewards that are different from those of other segments.

Segmen adalah bagian yang dapat dibedakan dari Bank yang terlibat baik dalam menyediakan produk tertentu (segmen usaha), maupun dalam menyediakan produk dalam lingkungan ekonomi tertentu (segmen geografis), yang memiliki risiko dan imbalan yang berbeda dengan segmen lainnya.

52





x.

y.

2.

Segmen operasi (lanjutan)

SUMMARY (continued) x.

OF

ACCOUNTING

POLICIES

Operating segment (continued)

Pendapatan, beban, hasil, aset dan liabilitas segmen mencakup item-item yang dapat diatribusikan langsung kepada suatu segmen serta hal-hal yang dapat dialokasikan dengan dasar yang sesuai kepada segmen tersebut. Bank menyajikan segmen operasi berdasarkan laporan internal yang disajikan kepada pengambil keputusan operasional dan keuangan yaitu Direksi.

Segment revenue, expenses, results, assets and liabilities include items directly attributable to a segment as well as those that can be allocated on a reasonable basis to that segment. The Bank presents operating segment based on Bank’s internal report that is presented to the Board of Directors as the operational and financial decision maker.

Bank telah mengidentifikasi dan mengungkapkan informasi keuangan berdasarkan kegiatan bisnis utama (segmen bisnis) yang terbagi atas kelompok kemitraan, ritel, menengah dan lainnya.

The Bank has identified and disclosed financial information based on main business (business segment) classified into linkage, retail, middle and others.

Sehubungan dengan perubahan segmen bisnis Bank yang berlaku awal Januari 2016, maka segmen bisnis Bank terbagi menjadi kelompok konsumer, ritel, menengah dan lainnya.

In accordance with the changes in business segment of Bank which was effective on early January 2016, the Bank’s business segment are classified into consumer, retail, middle and others.

Penggunaan pertimbangan, estimasi dan asumsi akuntansi yang signifikan

y.

Use of significant accounting judgments, estimates and assumptions

Penyusunan laporan keuangan Bank mengharuskan manajemen untuk membuat pertimbangan, estimasi dan asumsi yang mempengaruhi jumlah yang dilaporkan dari pendapatan, beban, aset dan liabilitas, dan pengungkapan atas liabilitas kontinjensi pada akhir periode pelaporan. Ketidakpastian mengenai asumsi dan estimasi tersebut dapat mengakibatkan penyesuaian material terhadap nilai tercatat aset dan liabilitas dalam periode pelaporan berikutnya.

The preparation of the Bank’s financial statements requires management to make judgments, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the disclosure of contingent liabilities, at the end of the reporting period. Uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amounts of the asset and liability affected in future periods.

Pertimbangan

Judgments

Pertimbangan berikut ini dibuat oleh manajemen dalam rangka penerapan kebijakan akuntansi Bank yang memiliki pengaruh paling signifikan atas jumlah yang diakui dalam laporan keuangan Bank sebagai berikut:

The following judgments are made by management in the process of applying Bank’s accounting policies that have the most significant effects on the amounts recognized in Bank’s financial statements as follows:

Usaha yang berkelanjutan

Going concern

Manajemen Bank telah melakukan penilaian atas kemampuan Bank untuk melanjutkan kelangsungan usahanya dan berkeyakinan bahwa Bank memilki sumber daya untuk melanjutkan usahanya di masa mendatang.

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.

53





y.

2.

Penggunaan pertimbangan, estimasi dan asumsi akuntansi yang signifikan (lanjutan)

SUMMARY (continued) y.

OF

ACCOUNTING

POLICIES

Use of significant accounting judgments, estimates and assumptions (continued)

Pertimbangan (lanjutan)

Judgments (continued)

Usaha yang berkelanjutan (lanjutan)

Going concern (continued)

Selain itu, manajemen Bank tidak mengetahui adanya ketidakpastian material yang dapat menimbulkan keraguan yang signifikan terhadap kemampuan Bank untuk melanjutkan usahanya. Oleh karena itu, laporan keuangan telah disusun atas dasar usaha yang berkelanjutan.

Furthermore, the management is not aware of any material uncertainty that may cast significant doubt on the Bank’s ability to continue as a going concern. Therefore, the financial statements have been prepared on going concern basis.

Klasifikasi aset dan liabilitas keuangan

Classification of financial assets and financial liabilities

Manajemen Bank menetapkan klasifikasi atas aset dan liabilitas tertentu sebagai aset keuangan dan liabilitas keuangan dengan mempertimbangkan bila definisi yang ditetapkan PSAK No. 55 (Revisi 2014) telah dipenuhi. Dengan demikian, aset keuangan dan liabilitas keuangan diakui sesuai dengan kebijakan akuntansi Bank seperti diungkapkan pada Catatan 2b.

The Bank’s management determines the classifications of certain assets and liabilities as financial assets and financial liabilities by judging if the definition set forth in SFAS No. 55 (Revised 2014) is met. Accordingly, the financial assets and financial liabilities are accounted for in accordance with the Bank’s accounting policies disclosed in Note 2b.

Nilai wajar atas instrumen keuangan

Fair value of financial instruments

Semua aset dan liabilitas dimana nilai wajar diukur atau diungkapkan dalam laporan keuangan dapat dikategorikan pada level hirarki nilai wajar, berdasarkan tingkatan input terendah yang signifikan atas pengukuran nilai wajar secara keseluruhan:

All assets and liabilities in which fair value is measured or disclosed in the financial statements can be classified in fair value hierarchy levels, based on the lowest level of input that is significant on the overall fair value measurement:

•

•

•

•

Level 1: harga kuotasian (tanpa penyesuaian) di pasar aktif untuk aset atau liabilitas yang identik yang dapat diakses pada tanggal pengukuran. Level 2: input selain harga kuotasian yang termasuk dalam level 1 yang dapat diobservasi untuk aset dan liabilitas, baik secara langsung atau tidak langsung. Level 3: input yang tidak dapat diobservasi untuk aset dan liabilitas.

•

•

Level 1: quoted (unadjusted) market prices in active markets for identical assets or liabilities accessible at the measurement date. Level 2: inputs other than quoted prices included in level 1 for the assets and liabilities, which is directly or indirectly observable. Level 3: unobservable inputs for the assets and liabilities.

Investasi dimiliki hingga jatuh tempo

Held-to-maturity securities

Surat berharga dengan klasifikasi dimiliki hingga jatuh tempo membutuhkan judgment yang signifikan. Dalam membuat judgment ini, Bank mengevaluasi intensi dan kemampuan untuk memiliki investasi tersebut hingga jatuh tempo.

The classification under held-to-maturity securities requires significant judgment. In making this judgment, the Bank evaluates its intention and ability to hold such investments to maturity.

54





y.

2.

Penggunaan pertimbangan, estimasi dan asumsi akuntansi yang signifikan (lanjutan)


OF

ACCOUNTING

POLICIES

Use of significant accounting judgments, estimates and assumptions (continued)

Pertimbangan (lanjutan)

Judgments (continued)

Investasi dimiliki hingga jatuh tempo (lanjutan)

Held-to-maturity securities (continued)

Jika Bank gagal untuk memiliki investasi ini hingga jatuh tempo selain dalam kondisikondisi tertentu sebagai contoh, menjual dalam jumlah yang tidak signifikan pada saat mendekati jatuh tempo, Bank harus mereklasifikasi seluruh portofolio tersebut menjadi surat berharga yang tersedia untuk dijual. Surat berharga yang tersedia untuk dijual tersebut akan diukur pada nilai wajar dan bukan menggunakan biaya yang diamortisasi.

If the Bank fails to keep these investments to maturity other than in certain specific circumstances for example, selling an insignificant amount close to maturity, it will be required to reclassify the entire portfolio as available-for-sale securities. The available-forsale securities would therefore be measured at fair value and not at amortized cost.

Kontinjensi

Contingencies

Bank sedang terlibat dalam proses hukum. Perkiraan biaya kemungkinan bagi penyelesaian klaim telah dikembangkan melalui konsultasi dengan bantuan konsultan hukum Bank didasarkan pada analisis hasil yang potensial. Manajemen tidak berkeyakinan bahwa hasil dari hal ini akan mempengaruhi hasil usaha. Besar kemungkinan, bagaimanapun, bahwa hasil operasi di masa depan dapat secara material terpengaruh oleh perubahan dalam estimasi atau efektivitas dari strategi yang terkait dengan hal tersebut.

The Bank is currently involved in legal proceedings. The estimate of the probable cost for the resolution of claims has been developed in consultation with the aid of the external legal counsel handling the Bank’s defense in this matter and is based upon an analysis of potential results. Management does not believe that the outcome of this matter will affect the results of operations. It is probable, however, that future results of operations could be materially affected by changes in the estimates or in the effectiveness of the strategies relating to these proceedings.

Estimasi dan Asumsi

Estimates and Assumptions

Asumsi utama masa depan dan sumber utama estimasi ketidakpastian lain pada tanggal pelaporan yang memiliki risiko signifikan untuk dapat menyebabkan penyesuaian yang material terhadap nilai tercatat aset dan liabilitas untuk tahun berikutnya, diungkapkan di bawah ini. Bank mendasarkan asumsi dan estimasi yang digunakan pada parameter yang tersedia pada saat laporan keuangan disusun.

The key assumptions concerning the future and other key sources of estimating uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are disclosed below. The Bank based its assumptions and estimates on parameters available when the financial statements were prepared.

Asumsi dan situasi mengenai perkembangan masa depan dapat berubah akibat perubahan pasar atau situasi yang timbul di luar kendali Bank. Perubahan tersebut dicerminkan dalam asumsi yang digunakan pada saat terjadinya.

Existing circumstances and assumptions about future developments may change due to market changes or circumstances arising beyond the control of the Bank. Such changes are reflected in the assumptions when they occur.

55





y.

2.

Penggunaan pertimbangan dan estimasi akuntansi yang signifikan (lanjutan)


OF

ACCOUNTING

POLICIES

Use of significant accounting judgments and estimates (continued)

Estimasi dan Asumsi (lanjutan)

Estimates and Assumptions (continued)

Cadangan kerugian penurunan nilai kredit yang diberikan

Allowance for impairment losses on loans

Manajemen Bank menelaah portofolio kredit yang diberikan setiap tahun untuk menilai penurunan nilai dengan memperbaharui cadangan kerugian penurunan nilai yang dibentuk selama periode yang diperlukan berdasarkan analisis berkelanjutan dan pemantauan terhadap rekening individual oleh petugas kredit.

The Bank’s management reviews its loan portfolio to assess impairment on an annual basis with updating allowance for impairment losses made during the intervals as necessary based on the continuing analysis and monitoring of individual accounts by credit officers.

Dalam menentukan apakah penurunan nilai harus dibentuk dalam laporan laba rugi dan penghasilan kompehensif lain, Bank membuat penilaian, apakah terdapat data yang dapat diobservasi yang menunjukkan bahwa terdapat penurunan yang dapat diukur dalam laporan perkiraan arus kas masa depan dari portofolio pinjaman sebelum penurunan tersebut dapat diidentifikasi secara individual dalam portofolio tersebut.

In determining whether an impairment loss should be recorded in the statements of profit or loss and other comprehensive income, the Bank assesses for any observable data indicating the existence of measurable decrease in the estimated future cash flows from loan portfolio before the decrease is individually identified in the portfolio.

Bukti seperti ini dapat termasuk data yang dapat diobservasi yang menunjukkan bahwa telah terjadi perubahan yang merugikan pada status pembayaran kelompok peminjam, atau kondisi ekonomi nasional atau lokal yang berkorelasi dengan wanprestasi atas aset dalam kelompok. Bank menggunakan perkiraan dalam menentukan jumlah dan waktu dari arus kas masa depan ketika menentukan tingkat cadangan kerugian yang diperlukan. Estimasi tersebut didasarkan pada asumsi mengenai sejumlah faktor dan hasil aktual yang dapat berbeda, yang mengakibatkan perubahan terhadap jumlah cadangan kerugian di masa yang akan datang (Catatan 8).

This evidence may include observable data indicating that there has been an adverse change in the payment status of group borrowers, or national or local economic conditions that correlate with breach on assets in group. The Bank uses estimates in determining the amount and timing of future cash flows when determining the level of allowance for losses required. Such estimates are based on assumptions of several factors and actual results may differ, resulting to future changes in the amount of allowance for losses (Note 8).

Penurunan nilai untuk surat berharga

Impairment of securities

Manajemen Bank menentukan bahwa surat berharga memiliki kriteria penurunan nilai yang sama dengan aset keuangan yang dicatat pada biaya perolehan diamortisasi (Catatan 7).

The Bank’s management determines that securities are impaired based on the same criteria as financial assets carried at amortized cost (Note 7).

56





y.

2.



OF

ACCOUNTING

POLICIES




Umur ekonomis dari aset tetap

Useful lives of premises and equipment

Manajemen Bank memperkirakan masa manfaat aset tetap berdasarkan periode dimana aset diharapkan akan tersedia untuk digunakan. Masa manfaat ekonomis aset tetap ditinjau secara berkala dan diperbarui jika memiliki ekspektasi yang berbeda dari perkiraan sebelumnya, karena kerusakan secara fisik dan teknis, atau keusangan secara komersial dan legal atau batasan lainnya atas penggunaan aset tersebut.

The Bank’s management estimates the useful lives of premises and equipment based on the period over which the assets are expected to be available for use. The estimated useful lives of premises and equipment are reviewed periodically and are updated if expectations differ from previous estimates due to physical and technical damage or commercial obsolescence and legal or other limits on the use of the assets.

Selain hal tersebut, estimasi masa manfaat dari aset tetap didasarkan pada penilaian secara kolektif dengan menggunakan praktik industri, teknik evaluasi internal dan pengalaman dengan aset serupa. Tetap dimungkinkan, bagaimanapun, bahwa hasil masa depan dapat secara material dipengaruhi oleh perubahan estimasi yang disebabkan oleh perubahan faktor-faktor tersebut di atas. Jumlah dan saat pencatatan biaya untuk setiap periode akan dipengaruhi oleh perubahan dari faktor dan keadaan saat pencatatan. Pengurangan dari taksiran masa manfaat dari aset tetap akan meningkatkan beban usaha (Catatan 11).

In addition, estimation of the useful lives of premises and equipment is based on collective assessment of industry practice, internal technical evaluation and experience with similar assets. It is possible, however, that future results could be materially affected by changes in estimates brought about by changes in the aforementioned factors. The amounts and timing of recorded expenses for any period are affected by changes of those factors and circumstances during recording. A reduction in the estimated useful lives of premises and equipment increases the recorded operating expenses (Note 11).

Penurunan nilai aset non-keuangan

Impairment of non-financial assets

Manajemen Bank mengevaluasi penurunan nilai aset non-keuangan apabila terdapat kejadian atau perubahan keadaan yang mengindikasikan bahwa nilai tercatat aset nonkeuangan tidak dapat dipulihkan kembali. Faktor-faktor penting yang dapat menyebabkan penelaahan penurunan nilai adalah sebagai berikut:

The Bank’s management assesses impairment of non-financial assets whenever events or changes in circumstances indicate that the carrying amount of non-financial asset may not be recoverable. The factors that the Bank considers important which may lead to impairment assessment are the following:

a)

a)

significant underperformance related to historical expectation or projected future operating results;

b)

significant changes in the manner of use of the assets or the overall business strategy; and significant negative industry or economic trends.

b)

c)

performa yang tidak tercapai secara signifikan terhadap ekspektasi historis atau proyeksi hasil operasi di masa yang akan datang; perubahan yang signifikan dalam cara penggunaan aset atau strategi bisnis secara keseluruhan; dan industri atau tren ekonomi yang secara signifikan bernilai negatif.

c)

57





y.

2.



OF

ACCOUNTING

POLICIES




Penurunan nilai aset non-keuangan (lanjutan)

Impairment of non-financial assets (continued)

Bank mengakui kerugian penurunan nilai apabila nilai tercatat aset melebihi nilai yang dapat dipulihkan. Jumlah terpulihkan adalah nilai yang lebih tinggi antara nilai wajar dikurang biaya pelepasan dengan nilai pakai aset (atau unit penghasil kas). Jumlah terpulihkan diestimasi untuk aset individual atau, jika tidak memungkinkan, untuk unit penghasil kas yang mana aset tersebut merupakan bagian daripada unit tersebut (Catatan 11 dan 12).

The Bank recognizes an impairment loss whenever the carrying amount of an asset exceeds its recoverable amount. The recoverable amount is the higher amount between fair value less costs of disposal using the asset value in use (or cash generating unit). Recoverable amounts are estimated for individual assets or, if not possible, for the cash-generating unit to which the asset belongs (Notes 11 and 12).

Pengakuan aset pajak tangguhan

Recognition of deferred tax assets

Aset pajak tangguhan diakui untuk seluruh saldo rugi fiskal yang belum digunakan dalam hal terdapat kemungkinan bahwa penghasilan kena pajak akan tersedia untuk dikompensasi terhadap kerugian yang dapat digunakan. Pertimbangan manajemen yang signifikan diperlukan untuk menentukan jumlah aset pajak tangguhan yang dapat diakui, sesuai dengan saat dan jumlah penghasilan kena pajak di masa mendatang seiring dengan strategi perencanaan pajak.

Deferred tax assets are recognized for all unused tax losses to the extent that it is probable that taxable income can be compensated against the losses. Significant management judgment is required to determine the amount of deferred tax assets that can be recognized, based upon the likely timing and amount of future taxable income together with tax planning strategies.

Bank menelaah aset pajak tangguhan pada setiap tanggal posisi laporan keuangan dan mengurangi jumlah tercatat dalam hal tidak adanya lagi kemungkinan bahwa penghasilan kena pajak yang cukup akan tersedia untuk mengkompensasi sebagian atau seluruh aset pajak tangguhan (Catatan 19).

The Bank reviews its deferred tax assets at each of the statement of financial position reporting date and reduces the carrying amount to the extent that it is no longer probable that sufficient taxable income will be available to compensate part or all of the deferred tax assets (Note 19).

Nilai kini atas kewajiban pensiun

Present value of pension liability

Biaya atas program pensiun dan imbalan pasca kerja lainnya ditentukan dengan perhitungan aktuaris. Perhitungan aktuaris melibatkan penggunaan asumsi mengenai tingkat diskonto, tingkat pengembalian yang diharapkan dari aset, kenaikan gaji di masa depan, tingkat kematian dan tingkat kecacatan. Karena program tersebut memiliki sifat jangka panjang, maka perkiraan tersebut memiliki ketidakpastian yang signifikan (Catatan 20).

The cost of defined pension plan and other post employment benefits is determined using actuarial valuations. The actuarial valuation involves making assumptions about discount rates, expected rates of return on assets, future salary increases, mortality rates and disability rate. Due to the long-term nature of these plans, such estimates are subject to significant uncertainty (Note 20).

58





z.

Perubahan kebijakan pengungkapan

akuntansi

2.

dan

SUMMARY (continued) z.

OF

Changes in disclosures

ACCOUNTING

accounting

POLICIES

policies

and

Bank telah menerapkan standar akuntansi pada tanggal 1 Januari 2016, yang dianggap relevan dengan laporan keuangan, yaitu:

Bank has applied the accounting standards on January 1, 2016, which are considered relevant to the financial statements, namely:

•

Amandemen PSAK No. 16, “Aset Tetap tentang Klarifikasi Metode yang Diterima untuk Penyusutan dan Amortisasi”, memberikan tambahan penjelasan tentang indikasi perkiraan keusangan teknis atau komersial suatu aset. Amandemen PSAK No. 16 ini juga mengklarifikasi bahwa penggunaan metode penyusutan yang berdasarkan pada pendapatan adalah tidak tepat.

•

Amendment SFAS 16, “Acceptable amortization and depreciation method of fixed assets”, added explanation for indication of technical or commercial obsolescence of an asset. Amendment SFAS 16 clarified that depreciation method based on income is no longer viable.

•

Amandemen PSAK No. 24, “Imbalan Kerja tentang Program Imbalan Pasti: Iuran Pekerja”, menyederhanakan akuntansi untuk kontribusi iuran dari pekerja atau pihak ketiga yang tidak bergantung pada jumlah tahun jasa, misalnya iuran pekerja yang dihitung berdasarkan persentase tetap dari gaji.

•

Amendment SFAS 24 “Employee Benefit: Defined Contribution Plans”, simplify the accounting method for defined contribution plans from workers or third parties that does not rely on the total number of dedication years, for instance contribution plans that is measured using percentage of salary.

•

PSAK No. 5 (Penyesuaian 2015), “Segmen Operasi”, menambahkan pengungkapan deskripsi singkat segmen operasi yang telah digabungkan dan indikator ekonomik memiliki karakteristik yang serupa.

•

SFAS 5 (2015 Adaptation), “Operating Segments”, added short disclosure on combined operating segment and economic indicators that have similar characteristics.

•

PSAK No. 7 (Penyesuaian 2015), “Pengungkapan Pihak-pihak Berelasi”, menambahkan persyaratan pihak-pihak berelasi dan mengklarifikasi pengungkapan imbalan yang dibayarkan oleh entitas manajemen.

•

SFAS 7 (2015 Adaptation), “Related Party Disclosure”, added requirements and clarify disclosure for payables that are given by the management.

•

PSAK No. 13 (Penyesuaian 2015), “Properti Investasi”, memberikan klarifikasi bahwa PSAK No. 13 dan PSAK No. 22 saling mempengaruhi. Entitas dapat mengacu pada PSAK No. 13 untuk membedakan antara properti investasi dan properti yang digunakan sendiri. Entitas juga dapat mengacu pada PSAK No. 22 sebagai pedoman apakah akuisisi properti investasi merupakan kombinasi bisnis.

•

SFAS 13 (2015 Adaptation), “Investment Property”, clarified that SFAS 13 and SFAS 22 interplay. Entities can refer to SFAS 13 to differentiate between investment property and owner-occupied property. Entities may also refer to SFAS 22 as a guide whether the acquisition of an investment property is a business combination.

59





z.

Perubahan kebijakan akuntansi pengungkapan (lanjutan)

2.

dan

SUMMARY (continued) z.

OF

ACCOUNTING

Changes in accounting disclosures (continued)

POLICIES

policies

and

Bank telah menerapkan standar akuntansi pada tanggal 1 Januari 2016, yang dianggap relevan dengan laporan keuangan, yaitu (lanjutan):

Bank has applied the accounting standards on January 1, 2016, which are considered relevant to the financial statements, namely (continued):

•

PSAK No. 16 (Penyesuaian 2015), “Aset Tetap”, memberikan klarifikasi pada paragraf 35 terkait model revaluasi, bahwa ketika entitas menggunakan model revaluasi, jumlah tercatat aset disajikan kembali pada jumlah revaluasiannya.

•

SFAS 16 (2015 Adaptation), “Property, Plant and Equipment”, clarified in paragraph 35 on revaluation model, that when an entity uses revaluation model, carrying amount of assets are presented in the revaluated amount.

•

PSAK No. 25 (Penyesuaian 2015), “Kebijakan Akuntansi, Perubahan Estimasi Akuntansi dan Kesalahan”, memberikan koreksi editorial pada PSAK No. 25 paragraf 27 tentang keterbatasan penerapan retrospektif.

•

SFAS No. 25 (2015 Adaptation), “Accounting Policies, Changes in Accounting Estimates and Errors”, gave editorial correction to SFAS 25 paragraph 27 about limitation on retrospective application.

•

PSAK No. 68 (Penyesuaian 2015), “Pengukuran Nilai Wajar”, mengklarifikasi bahwa pengecualian portofolio, yang memperkenankan entitas mengukur nilai wajar kelompok aset keuangan dan liabilitas keuangan secara neto, diterapkan pada seluruh kontrak (termasuk kontrak non-keuangan) dalam ruang lingkup PSAK No. 55.

•

SFAS 68 (2015 Adaptation), “Fair Value Measurement”, clarified that portfolio exception, which permits entities to measure fair value measurement of financial asset or liability groups on a net basis, is to be applied for the whole contract (including non-financial contract) in the scope of SFAS 55.

•

PSAK No. 110 (Revisi 2015), “Akuntansi Sukuk”, mengatur pengakuan, pengukuran, penyajian dan pengungkapan transaksi sukuk ijarah dan sukuk mudharabah, baik sebagai penerbit maupun investor sukuk.

•

SFAS 110 (Revised 2015), “Sukuk Accounting”, regulated recognition, measurement, presentation and disclosure of sukuk ijarah and sukuk mudharabah transaction, both as either buyer or seller.

Implementation of SFAS above did not result in significant changes to the financial reporting and disclosure in the financial statements.

Penerapan PSAK diatas tidak menimbulkan perubahan yang signifikan terhadap pelaporan keuangan dan pengungkapan dalam laporan keuangan.

60




KAS

3. 31 Desember/December 31, 2016 Jumlah nosional mata uang asing/ Notional amount Ekuivalen foreign currency Rupiah/ (Angka penuh/ Rupiah Full amount) Equivalent

Rupiah Dolar Amerika Serikat

1.516

Total

4.

Jumlah nosional mata uang asing/ Notional amount foreign currency (Angka penuh/ Full amount)

15.139

28.654.362

4.

31 Desember/December 31, 2016 Jumlah nosional mata uang asing/ Notional amount Ekuivalen foreign currency Rupiah/ (Angka penuh/ Rupiah Full amount) Equivalent

Total

31 Desember/December 31, 2015

28.633.937 20.425

GIRO PADA BANK INDONESIA


CASH

1.300.000

1.019.014.572 17.514.250

Ekuivalen Rupiah/ Rupiah Equivalent 21.135.968 208.691

Rupiah United States Dollar

21.344.659

Total

CURRENT ACCOUNTS WITH BANK INDONESIA

31 Desember/December 31, 2015 Jumlah nosional mata uang asing/ Notional amount foreign currency (Angka penuh/ Full amount) 2.000.000

1.036.528.822

Ekuivalen Rupiah/ Rupiah Equivalent 564.276.039 27.570.000


591.846.039

Total

Saldo giro pada Bank Indonesia disediakan untuk memenuhi persyaratan Giro Wajib Minimum (GWM) dari Bank Indonesia.

Current accounts with Bank Indonesia are maintained to comply with Bank Indonesia’s Minimum Legal Reserve Requirements (GWM).

Rasio GWM Bank (tidak diaudit) pada tanggaltanggal 31 Desember 2016 dan 2015 adalah sebagai berikut:

As of December 31, 2016 and 2015, the GWM ratios of the Bank (unaudited) are as follows:


GWM Utama - Rupiah GWM Sekunder - Rupiah GWM Utama - Mata Uang Asing

13,58% 7,80% 49,01%

10,16% 7,92% 60,67%

Primary GWM - Rupiah Secondary GWM - Rupiah Primary GWM - Foreign Currency

The calculation of the GWM ratios as of December 31, 2016 is based on Bank Indonesia’s regulation (PBI) No. 18/3/PBI/2016 dated March 10, 2016, regarding “Third Amendment to Bank Indonesia Regulation No. 15/15/PBI/2013 on Reserves Requirement in Rupiah and Foreign Currencies for Conventional Commercial Banks”, whereas GWM ratios as of December 31, 2015 is based on PBI No. 17/21PBI/2015 dated November 26, 2015, regarding “Second Amendment to Bank Indonesia Regulation No. 15/15/PBI/2013 on Reserves Requirement in Rupiah and Foreign Currencies for Conventional Commercial Banks”.

Rasio GWM pada tanggal 31 Desember 2016 dihitung berdasarkan Peraturan Bank Indonesia (PBI) No. 18/3/PBI/2016 tanggal 10 Maret 2016 tentang “Perubahan Ketiga atas Peraturan Bank Indonesia No. 15/15/PBI/2013 tentang Giro Wajib Minimum Bank Umum dalam Rupiah dan Valuta Asing bagi Bank Umum Konvensional”, sedangkan rasio GWM pada tanggal 31 Desember 2015 dihitung berdasarkan Peraturan Bank Indonesia (PBI) No. 17/21/PBI/2015 tanggal 26 November 2015 tentang “Perubahan Kedua atas Peraturan Bank Indonesia No. 15/15/PBI/2013 tentang Giro Wajib Minimum Bank Umum dalam Rupiah dan Valuta Asing bagi Bank Umum Konvensional”.

61



5.


GIRO PADA BANK INDONESIA (lanjutan)

4.

CURRENT ACCOUNTS WITH BANK INDONESIA (continued)

Pada tanggal-tanggal 31 Desember 2016 dan 2015, sesuai dengan ketentuan Bank Indonesia tersebut di atas, Bank harus memenuhi persyaratan GWM Utama dalam Rupiah masingmasing sebesar 6,5% dan 7,5%, sedangkan untuk mata uang asing sebesar 8%. Untuk GWM Sekunder adalah sebesar 4% dalam Rupiah.

As of December 31, 2016 and 2015, based on the above Bank Indonesia regulations, Bank is required to maintain primary GWM in Rupiah amounting to 6.5% and 7.5%, respectively, while GWM for foreign currency amounting to 8%. Secondary GWM amounting to 4% in Rupiah.

Bank telah memenuhi ketentuan Bank Indonesia tentang GWM tersebut pada tanggal-tanggal 31 Desember 2016 dan 2015.

The Bank has complied with Bank Indonesia’s regulation regarding the minimum legal reserve requirement as of December 31, 2016 and 2015.

GIRO PADA BANK LAIN

a)

5.

a)

Berdasarkan mata uang 31 Desember/December 31, 2016 Jumlah nosional mata uang asing/ Notional amount Ekuivalen foreign currency Rupiah/ (Angka penuh/ Rupiah Full amount) Equivalent Pihak ketiga Rupiah Mata uang asing Dolar Amerika Serikat Yen Jepang

By currencies

31 Desember/December 31, 2015 Jumlah nosional mata uang asing/ Notional amount foreign currency (Angka penuh/ Full amount)

Ekuivalen Rupiah/ Rupiah Equivalent 1.092.009


285.689.645 5.782

Foreign currencies United States Dollar Japanese Yen

6.950.576

Pihak berelasi (Catatan 30) Rupiah Dolar Amerika Serikat

Total

b)

CURRENT ACCOUNTS WITH OTHER BANKS

134.724

93.641.632 -

20.724.675 50.492

93.641.632

285.695.427

93.641.632

286.787.436

11.359.598 1.815.071

26.579.694 64.863.079

4.705.338

13.174.669

91.442.773

106.816.301

378.230.209

b)

Berdasarkan bank

Related parties (Note 30) Rupiah United States Dollar

Total

By bank


Pihak ketiga Rupiah PT Bank Pembangunan Daerah Jawa Tengah PT Bank Pembangunan Daerah Sumatera Utara

-

1.089.026

-

2.983

-

1.092.009

62

Third parties Rupiah PT Bank Pembangunan Daerah Jawa Tengah PT Bank Pembangunan Daerah Sumatera Utara




GIRO PADA BANK LAIN (lanjutan)

b)

5.

CURRENT ACCOUNTS WITH OTHER BANKS (continued) b)

Berdasarkan bank (lanjutan)

By bank (continued)


Pihak ketiga (lanjutan) Mata uang asing Dolar Amerika Serikat Citibank, N.A., New York PT Bank Central Asia Tbk Yen Jepang Sumitomo Mitsui Banking Corporation, Jepang

Pihak berelasi (Catatan 30) Rupiah PT Bank Rakyat Indonesia (Persero) Tbk PT Bank Mandiri (Persero) Tbk

Dolar Amerika Serikat PT Bank Mandiri (Persero) Tbk PT Bank Negara Indonesia (Persero) Tbk

Total

c)

9.809.606 83.832.026

280.769.659 4.919.986

-

5.782

93.641.632

285.695.427

93.641.632

286.787.436

11.005.933 353.665

25.545.221 1.034.473

11.359.598

26.579.694

1.351.116

1.472.625

463.955

63.390.454

1.815.071

64.863.079

13.174.669

91.442.773

106.816.301

378.230.209

c)

Berdasarkan kolektibilitas

Related parties (Note 30) Rupiah PT Bank Rakyat Indonesia (Persero) Tbk PT Bank Mandiri (Persero) Tbk

United States Dollar PT Bank Mandiri (Persero) Tbk PT Bank Negara Indonesia (Persero) Tbk

Total

By collectibility As of December 31, 2016 and 2015, all current accounts with other banks classified as “current”.

Pada tanggal-tanggal 31 Desember 2016 dan 2015, seluruh giro pada bank lain diklasifikasikan “lancar". d)

Third parties (continued) Foreign currencies United States Dollar Citibank, N.A., New York PT Bank Central Asia Tbk Japanese Yen Sumitomo Mitsui Banking Corporation, Japan

d)

Tingkat suku bunga rata-rata per tahun untuk giro pada bank lain:

The annual average interest rates for current accounts with other banks:


Rupiah Dolar Amerika Serikat Yen Jepang

0,79% 0,07% -

0,86% 0,07% 0,00%

Rupiah United States Dollar Japanese Yen

The Bank assessed allowance for impairment losses on current accounts with other banks individually for impairment based on whether an objective evidence of impairment exists.

Bank melakukan penilaian cadangan kerugian penurunan nilai atas giro pada bank lain secara individual dengan mempertimbangkan adanya bukti obyektif penurunan nilai.

63



6.


GIRO PADA BANK LAIN (lanjutan)

5.

CURRENT ACCOUNTS WITH OTHER BANKS (continued)

Manajemen berpendapat bahwa jumlah cadangan kerugian penurunan nilai tidak diperlukan pada tanggal-tanggal 31 Desember 2016 dan 2015, karena manajemen berkeyakinan bahwa giro pada bank lain dapat tertagih.

Management believes that the allowance for impairment losses is not necessary as of December 31, 2016 and 2015, because management believes that current account with other banks are fully collectible.

Pada tanggal-tanggal 31 Desember 2016 dan 2015, tidak terdapat giro pada bank lain yang digunakan sebagai jaminan.

As of December 31, 2016 and 2015, there are no current account with other banks used as collateral.

PENEMPATAN PADA BANK INDONESIA DAN BANK LAIN a)

6.

PLACEMENTS WITH BANK INDONESIA AND OTHER BANKS a)

Berdasarkan mata uang dan jenis

By currency and type


Pihak ketiga Rupiah Bank Indonesia - Deposit facility Inter-bank call money PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk PT Bank Sinarmas Tbk PT Bank Bukopin Tbk PT Bank CIMB Niaga Tbk PT Bank OCBC NISP Tbk PT Bank Danamon Indonesia Tbk PT Bank Pembangunan Daerah Jawa Timur Tbk PT Bank Victoria International Tbk PT Bank Kesejahteraan Ekonomi PT Bank Pan Indonesia Tbk PT Bank Pembangunan Daerah Kalimantan Timur

Pihak berelasi (Catatan 30) Rupiah Inter-bank call money PT Bank Negara Indonesia (Persero) Tbk Lembaga Pembiayaan Ekspor Indonesia PT Bank BRISyariah

Total

376.916.250

99.951.160

100.000.000 80.000.000 80.000.000 70.000.000 60.000.000 50.000.000

60.000.000 -

50.000.000 30.000.000 20.000.000 -

90.000.000

-

25.000.000

540.000.000

175.000.000

916.916.250

274.951.160

200.000.000

-

-

150.000.000 35.000.000

200.000.000

185.000.000

1.116.916.250

459.951.160

64

Third parties Rupiah Bank Indonesia - Deposit facility Inter-bank call money PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk PT Bank Sinarmas Tbk PT Bank Bukopin Tbk PT Bank CIMB Niaga Tbk PT Bank OCBC NISP Tbk PT Bank Danamon Indonesia Tbk PT Bank Pembangunan Daerah Jawa Timur Tbk PT Bank Victoria International Tbk PT Bank Kesejahteraan Ekonomi PT Bank Pan Indonesia Tbk PT Bank Pembangunan Daerah Kalimantan Timur

Related parties (Note 30) Rupiah Inter-bank call money PT Bank Negara Indonesia (Persero) Tbk Lembaga Pembiayaan Ekspor Indonesia PT Bank BRISyariah

Total




PENEMPATAN PADA BANK INDONESIA DAN BANK LAIN (lanjutan) b)

6.

PLACEMENTS WITH BANK INDONESIA AND OTHER BANKS (continued) b)

Berdasarkan sisa umur jatuh tempo

By remaining period to maturity The placements are grouped by remaining period to maturity as follows:

Klasifikasi jangka waktu penempatan berdasarkan sisa umur sampai dengan saat jatuh tempo adalah sebagai berikut:

the


Rupiah ≤ 1 bulan

c)

1.116.916.250

459.951.160

c)


By collectibility As of December 31, 2016 and 2015, all placements with Bank Indonesia and other banks were classified as “current”.

Pada tanggal-tanggal 31 Desember 2016 dan 2015, seluruh penempatan pada Bank Indonesia dan bank lain diklasifikasikan “lancar”.

d)

Rupiah ≤ 1 month

d)

Tingkat suku bunga rata-rata per tahun untuk penempatan pada Bank Indonesia dan bank lain:

The annual average interest rate for placement with Bank Indonesia and other banks:


Rupiah Deposit facility Inter-bank call money

e)

4,75% 4,85%

5,60% 6,23%

e)

Bank melakukan penilaian cadangan kerugian penurunan nilai atas penempatan pada Bank Indonesia dan bank lain secara individual dengan mempertimbangkan adanya bukti obyektif penurunan nilai.

Rupiah Deposit facility Inter-bank call money

The Bank assessed allowance for impairment losses on the placements with Bank Indonesia and other banks individually based on whether an objective evidence of impairment exists. Management believes that the allowance for impairment losses is not necessary as of December 31, 2016 and 2015, because management believes that placement with Bank Indonesia and other banks are fully collectible.

Manajemen berpendapat bahwa jumlah cadangan kerugian penurunan nilai tidak diperlukan pada tanggal-tanggal 31 Desember 2016 dan 2015, karena manajemen berkeyakinan bahwa penempatan pada Bank Indonesia dan bank lain dapat tertagih.

65




EFEK-EFEK a)

7.

SECURITIES a) By purpose, currency and type

Berdasarkan tujuan, mata uang dan jenis


Nilai wajar melalui laporan laba rugi Pihak berelasi (Catatan 30) Rupiah Obligasi Pemerintah Medium Term Notes

Tersedia untuk dijual Pihak ketiga Rupiah Reksadana Pihak berelasi (Catatan 30) Rupiah Obligasi Pemerintah Reksadana Obligasi

Dolar Amerika Serikat Obligasi Obligasi Pemerintah

Dimiliki hingga jatuh tempo Pihak berelasi (Catatan 30) Rupiah Obligasi Medium Term Notes Negotiable Certificate of Deposits

Total

50.625.000 -

141.110.228 56.197.500

50.625.000

197.307.728

55.555.416

Available-for-sale Third party Rupiah Mutual funds

534.779.398 100.122.361 10.196.710

287.012.250 75.475.794 -

Related parties (Note 30) Rupiah Government bonds Mutual funds Bonds

645.098.469

362.488.044

11.955.497 -

10.889.323 11.837.869

11.955.497

22.727.192

55.912.534

4.000.000 -

15.000.000 28.923.913

4.000.000

43.923.913

767.591.500

682.002.293

United States Dollar Bonds Government Bonds

Held-to-maturity Related party (Note 30) Rupiah Bonds Medium Term Notes Negotiable Certificate of Deposits

Total

The notional amount of government bonds, mutual fund and bonds which are denominated in United States Dollar as of December 31, 2016 and 2015 amounted to USD887,400 and USD1,648,690 (full amount), respectively.

Jumlah nosional atas obligasi pemerintah, reksadana dan obligasi dalam mata uang Dolar Amerika Serikat pada tanggal 31 Desember 2016 dan 2015 masing-masing sebesar ASD887.400 dan ASD1.648.690 (angka penuh). b)

Fair value through profit or loss Related party (Note 30) Rupiah Government bonds Medium Term Notes

b) By collectibility


As of December 31, 2016 and 2015, all securities were classified as “current”.

Pada tanggal-tanggal 31 Desember 2016 dan 2015, seluruh efek-efek diklasifikasikan “lancar”.

66




EFEK-EFEK (lanjutan)

7.

SECURITIES (continued) c) By remaining period to maturity

c) Berdasarkan sisa umur jatuh tempo

The classification of securities based on the remaining period to maturity is as follows:

Klasifikasi jangka waktu efek-efek berdasarkan sisa umur sampai dengan saat jatuh tempo adalah sebagai berikut:


Pihak ketiga Rupiah > 3 bulan - 1 tahun Pihak berelasi (Catatan 30) Rupiah ≤ 1 bulan > 3 bulan - 1 tahun > 1 tahun

Dolar Amerika Serikat > 3 bulan - 1 tahun Total

55.555.416

Third party Rupiah > 3 months - 1 year

50.625.000 645.098.469 4.000.000

207.258.549 396.461.136 -

Related party (Note 30) Rupiah ≤ 1 month > 3 months - 1 year > 1 year

699.723.469

603.719.685

11.955.497

22.727.192

United States Dollar > 3 months - 1 year

767.591.500

682.002.293

Total

55.912.534

d) By type and issuer

d) Berdasarkan jenis dan penerbit

1) Government bonds

1) Obligasi pemerintah

Government bonds represent bonds issued by the Republic of Indonesia in connection with the management of Government debentures portfolio.

Obligasi pemerintah merupakan obligasi yang diterbitkan oleh Negara Republik Indonesia dalam rangka pengelolaan portofolio surat utang negara.

Seri/Series

Tingkat Bunga Per Tahun/ Annual Interest Rate (%)

Tanggal Jatuh Tempo/ Maturity Date

Nilai Wajar/ Fair Value 31 Desember/ December 31, 2016


Nilai wajar melalui laporan laba rugi/ Fair value through profit or loss Pihak berelasi/ Related Party (Catatan 30/ Note 30) Rupiah FR0064

6,125

FR0065

6,625

FR0062

6,375

SR005

6,000

SR007

8,250

67

15 Mei/ May 15, 2028 15 Mei/ May 15, 2033 15 April/ April 15, 2042 27 Februari/ February 27, 2016 11 Maret/ March 11, 2018

25.245.000*)

23.700.000*)

25.380.000*)

23.625.000*)

-

14.200.000

-

5.164.978

-

74.420.250

50.625.000

141.110.228





7.

d) By type and issuer (continued)

d) Berdasarkan jenis dan penerbit (lanjutan)

1) Government bonds (continued)

1) Obligasi Pemerintah (lanjutan)

Seri/Series

SECURITIES (continued)



Nilai Wajar/ Fair Value 31 Desember/ December 31, 2016


60.954.700

-

51.439.000

9.755.000

37.252.908

8.650.000

38.978.800

-

15.435.000

14.200.000

21.037.500*)

19.750.000*)

33.840.000*)

31.500.000*)

45.225.000

37.450.000

20.402.200

29.137.500

62.120.469

9.366.700

138.370.121

49.000.000

9.723.700

-

-

10.457.300

-

10.682.400

-

20.050.000

-

9.985.000

-

27.028.350

534.779.398

287.012.250

-

11.837.869

585.404.398

439.960.347

Tersedia untuk dijual/ Available-for-sale Pihak berelasi/ Related Party (Catatan 30/ Note 30) Rupiah FR0053

8,250

FR0056

8,375

FR0059

7,000

FR0061

7,000

FR0062

6,375

FR0064

6,125

FR0065

6,625

FR0068

8,375

FR0070

8,375

FR0072

8,250

FR0073

8,750

FR0074

7,500

FR0045

9,750

FR0047

10,000

FR0071

9,000

ORI011

8,500

ORI012

9,000

15 Juli/ July 15, 2021 15 September/ September 15, 2026 15 Mei/ May 15, 2027 15 Mei/ May 15, 2022 15 April/ April 15, 2042 15 Mei/ May 15, 2028 15 Mei/ May 15, 2033 15 Maret/ March 15, 2034 15 Maret/ March 15, 2024 15 Mei/ May 15, 2036 15 Mei/ May 15, 2031 15 Agustus/ August 15, 2032 15 Mei/ May 15, 2037 15 Februari/ February 15, 2028 15 Maret/ March 15, 2029 15 Oktober/ October 15, 2017 15 Oktober/ October 15, 2018

Dolar Amerika Serikat/ United States Dollar RI0043

*)

4,625

Merupakan underlying dari reksadana terproteksi dimana Bank sebagai satu-satunya pihak yang memegang unit reksadana tersebut.

15 April/ April 15, 2043

*)

The underlying securities of protected mutual fund, whereas the Bank is the only party who holds the mutual fund unit.

The market value of Government bonds which are classified as fair value through profit or loss and available-for-sale ranged from 77.18% up to 104.81% and 71.00% up to 106.82% as of December 31, 2016 and 2015, respectively.

Nilai pasar obligasi Pemerintah yang diklasifikasikan “nilai wajar melalui laporan laba rugi” dan “tersedia untuk dijual” berkisar antara 77,18% sampai dengan 104,81% dan 71,00% sampai dengan 106,82% masingmasing pada tanggal 31 Desember 2016 dan 2015.

68





7.

d) By type and issuer (continued)


2) Bonds

2) Obligasi

Seri/Series


Tersedia untuk dijual/ Available-for-sale Pihak berelasi/ Related Party (Catatan 30/ Note 30) Rupiah PT Bank Rakyat Indonesia (Persero) Tahap I Seri D 2016/ Phase I Series D 2016 Dolar Amerika Serikat/ United States Dollar PT Perusahaan Listrik Negara (Persero) Global Bond 2042 Dimiliki hingga jatuh tempo/ Held to maturity Pihak berelasi/ Related Party (Catatan 30/ Note 30) Rupiah PT Bank Rakyat Indonesia (Persero) Tahap III Seri C 2016/ Phase III Series C 2016 *) **)

Tersedia untuk dijual/ Available-for-sale Pihak berelasi/ Related Parties (Catatan 30/ Note 30) Rupiah PT Bank Rakyat Indonesia (Persero) Tahap I Seri D 2016/ Phase I Series D 2016 Dolar Amerika Serikat/ United States Dollar PT Perusahaan Listrik Negara (Persero) Global Bond 2042

Dimiliki hingga jatuh tempo/ Held to maturity Pihak berelasi/Related Party (Catatan 30/ Note 30) Rupiah PT Bank Rakyat Indonesia (Persero) Tahap III Seri C 2016/ Phase III Series C 2016


Peringkat/Rating 31 Desember/ December 31, 2016


8,650


idAAA**)

5,250

24 Oktober/ October 24, 2042

Baa3*)

Baa3*)

8,700

25 Mei/ May 25, 2021

idAAA**)

-

Berdasarkan peringkat yang diterbitkan oleh Moody’s Berdasarkan peringkat yang diterbitkan oleh PT Pemeringkat Efek Indonesia (Pefindo)

Seri/Series

SECURITIES (continued)

*) **)


-

Based on rating issued by Moody’s Based on rating issued by PT Pemeringkat Efek Indonesia (Pefindo)


Nilai Wajar/Nilai Tercatat Fair Value/Carrying Value 31 Desember/ December 31, 2016


-

8,650


10.196.710

5,250

24 Oktober/ October 24, 2042

11.955.497

10.889.323

22.152.207

10.889.323

8,700

69

25 Mei/ May 25, 2021

4.000.000

-

26.152.207

10.889.323





7.

SECURITIES (continued) d) By type and issuer (continued)


3) Mutual funds

3) Reksadana


Tersedia untuk dijual Pihak ketiga Rupiah PT Mega Capital Investama PT Syailendra Capital

Pihak berelasi (Catatan 30) Rupiah PT BNI Asset Management PT Mandiri Manajemen Investasi

30.011.812 25.900.722

35.168.209 20.387.207

55.912.534

55.555.416

50.105.602

50.312.367

50.016.759

25.163.427

100.122.361

75.475.794

156.034.895

131.031.210

Related parties (Note 30) Rupiah PT BNI Asset Management PT Mandiri Manajemen Investasi

Mutual funds are investment on money market mutual funds which are classified as “available-for-sale”.

Reksadana merupakan investasi pada reksadana pasar uang yang diklasifikasikan “tersedia untuk dijual”.

4) Medium Term Notes (MTN)

Penerbit/Issuer

Available-for-sale Third parties Rupiah PT Mega Capital Investama PT Syailendra Capital

4) Medium Term Notes (MTN)

Nilai Nominal/ Nominal Value



Peringkat/Rating*) 31 Desember/ December 31, 2016


Nilai wajar melalui laporan laba rugi/ Fair value through profit or loss Pihak berelasi/Related Party (Catatan 30/ Note 30) Rupiah PT Bank Syariah Mandiri Subnotes BSM III 2011

59.000.000

8,770


-

idAA(sy)

15.000.000

13,000

28 November/ November 28, 2016

-

idBBB-(sy)

Dimiliki hingga jatuh tempo/ Held to maturity Pihak berelasi/Related Parties (Catatan 30/ Note 30) Rupiah PT Perkebunan Nusantara II MTN Ijarah PTPN II 2014

*)

Berdasarkan peringkat yang diterbitkan oleh PT Pemeringkat Efek Indonesia (Pefindo)

*)

70

Based on rating issued by PT Pemeringkat Efek Indonesia (Pefindo)




EFEK-EFEK (lanjutan) d)

7.

SECURITIES (continued) d) By type and issuer (continued)

Berdasarkan jenis dan penerbit (lanjutan) 4) Medium Term Notes (MTN) (lanjutan)

Penerbit/Issuer

4) Medium Term Notes (MTN) (continued)




Nilai Wajar/Nilai Tercatat Fair Value/Carrying value 31 Desember/ December 31, 2016


-

56.197.500

Nilai wajar melalui laporan laba rugi/ Fair value through profit or loss Pihak berelasi/Related Party (Catatan 30/ Note 30) Rupiah PT Bank Syariah Mandiri Subnotes BSM III 2011

59.000.000

8,770


15.000.000

13,000

28 November/ November 28, 2016

Dimiliki hingga jatuh tempo/ Held to maturity Pihak berelasi/Related Parties (Catatan 30/ Note 30) Rupiah PT Perkebunan Nusantara II MTN Ijarah PTPN II 2014

5) Negotiable Certificate Deposit (NCD)

Penerbit/Issuer

-

15.000.000

-

71.197.500

5) Negotiable Certificate Deposit (NCD)




Nilai Wajar/Nilai Tercatat Fair Value/Carrying value 31 Desember/ December 31, 2016


Dimiliki hingga jatuh tempo/ Held to maturity Pihak berelasi/Related Parties (Catatan 30/ Note 30) Rupiah PT Bank Tabungan Negara (Persero) Tbk -

9.271.461

9,000

31 Oktober/ October 31, 2016 2 Mei/ May 2, 2016

-

9.701.631

8,100

22 Januari/ January 22, 2016

-

9.950.821

-

28.923.913

NCD II BTN II 2015 Seri C

10.000.000

9,250

NCD II BTN II 2015 Seri B

10.000.000

10.000.000

PT Bank Rakyat Indonesia (Persero) Tbk NCD II BRI I 2015 Seri C

e)

e)

Bank melakukan penilaian atas penurunan nilai efek-efek secara individual dengan adanya bukti obyektif penurunan nilai.

The Bank assessed individually for impairment on securities based on whether an objective evidence of impairment exists.

Management believes impairment losses is December 31, 2016 management believes fully collectible.

Manajemen berpendapat bahwa jumlah cadangan kerugian penurunan nilai tidak diperlukan pada tanggal-tanggal 31 Desember 2016 dan 2015, karena manajemen berkeyakinan bahwa Efek-efek dapat tertagih.

71

that the allowance for not necessary as of and 2015, because that the Securities are




EFEK-EFEK (lanjutan) f)

7.

SECURITIES (continued) f)

Tingkat suku bunga rata-rata per periode tahun untuk efek-efek:

The annual securities:

average

interest

rates

for



8.

8,43% 5,09%

8,36% 4,90%


g)

Bank mengakui keuntungan yang belum direalisasi - neto dari perubahan nilai wajar efek-efek yang diklasifikasikan “Nilai Wajar melalui Laporan Laba Rugi” sebesar Rp3.300.000 untuk periode yang berakhir pada tanggal 31 Desember 2016 yang disajikan dalam akun “Keuntungan yang belum direalisasi dari perubahan nilai wajar efek-efek - neto” di laporan laba rugi dan penghasilan komprehensif lain.

g)

The Bank recognized unrealized gain - net on changes in the value of “Fair Value through Profit or Loss” securities amounting to Rp3,300,000 for the period ended December 31, 2016, which is recorded under “Unrealized gain on changes in fair value of securities net” in the statements of profit or loss and other comprehensive income.

h)

Bank mengakui kerugian yang belum direalisasi - neto dari perubahan nilai wajar efek-efek yang diklasifikasikan “Nilai Wajar melalui Laporan Laba Rugi” sebesar Rp4.066.328 untuk tahun yang berakhir pada tanggal 31 Desember 2015 yang disajikan dalam akun “Kerugian yang belum direalisasi dari perubahan nilai wajar efek-efek - neto” di laporan laba rugi dan penghasilan komprehensif lain.

h)

The Bank recognized unrealized loss - net on changes in the value of “Fair Value through Profit or Loss” securities amounting to Rp4,066,328 for the year ended December 31, 2015 which is recorded under “Unrealized loss on changes in fair value of securities - net” in the statement of profit or loss and other comprehensive income.

i)

Bank mengakui keuntungan neto atas penjualan efek-efek masing-masing sebesar Rp33.030.898 dan Rp23.228.577 untuk tahun yang berakhir pada tanggal-tanggal 31 Desember 2016 dan 2015 yang disajikan dalam akun “Keuntungan dari penjualan efekefek - neto” di laporan laba rugi dan penghasilan komprehensif lain.

i)

The Bank recognized net gain resulting from the sale of securities amounting to Rp33,030,898 and Rp23,228,577 for the years ended December 31, 2016 and 2015, respectively, which are recorded under “Gain on sale of securities - net” in the statement of profit or loss and other comprehensive income.

KREDIT YANG DIBERIKAN a)

8.

LOANS a)




Pihak ketiga Rupiah Modal kerja Investasi Program Konsumsi Sindikasi

Dolar Amerika Serikat Modal kerja

3.626.168.569 2.308.905.175 1.015.595.807 723.105.518 35.324.110

2.638.327.020 1.565.552.807 609.802.556 823.502.580 35.784.195

7.709.099.179

5.672.969.158

59.579.985

76.113.222

7.768.679.164

5.749.082.380

72

Third parties Rupiah Working capital Investment Programs Consumer Syndicated

United States Dollar Working capital




KREDIT YANG DIBERIKAN (lanjutan) a)

8.

LOANS (continued) a)

Berdasarkan mata uang dan jenis (lanjutan)

By currency and type (continued)


Pihak berelasi (Catatan 30) Rupiah Modal kerja Investasi Konsumsi

Total Cadangan kerugian penurunan nilai Neto

294.819.765 115.018.498 1.236.372

258.368.129 36.162.758 908.366

411.074.635

295.439.253

8.179.753.799

6.044.521.633

Total

(239.924.900)

(131.831.158)


7.939.828.899

5.912.690.475

Net

The notional amount of loans which are denominated in United States Dollar as of December 31, 2016 and 2015 amounted to USD4,422,341 and USD5,521,452 (full amount), respectively.

Jumlah nosional atas kredit yang diberikan dalam mata uang Dolar Amerika Serikat pada tanggal 31 Desember 2016 dan 2015 masingmasing sebesar ASD4.422.341 dan ASD5.521.452 (angka penuh). b)

Related parties (Note 30) Rupiah Working capital Investment Consumer

b)

Berdasarkan sektor ekonomi

By economic sector


Pihak ketiga Rupiah Pertanian Perdagangan Jasa dunia usaha Perindustrian Konstruksi Pengangkutan Jasa pelayanan sosial Pertambangan Listrik, gas dan air Lain-lain

Dolar Amerika Serikat Pengangkutan Perindustrian Perdagangan

2.948.674.192 1.680.802.941 1.292.482.493 563.196.476 243.156.034 133.629.556 114.305.945 6.661.220 3.084.805 723.105.517

2.035.816.341 939.189.782 1.002.910.853 537.170.361 179.607.808 71.990.974 81.932.729 4.839.952 1.124.872 818.385.486

7.709.099.179

5.672.969.158

26.872.576 16.811.222 15.896.187

27.547.207 29.986.592 18.579.423

59.579.985

76.113.222

7.768.679.164

5.749.082.380

73

Third parties Rupiah Agriculture Trading Business services Manufacturing Construction Transportation Social services Mining Electricity, gas and water Others

United States Dollar Transportation Manufacturing Trading




KREDIT YANG DIBERIKAN (lanjutan) b)

8.

LOANS (continued) b)

Berdasarkan sektor ekonomi (lanjutan)

By economic sector (continued)


Pihak berelasi (Catatan 30) Rupiah Pertanian Jasa dunia usaha Perdagangan Lain-lain

Total Cadangan kerugian penurunan nilai

251.357.061 17.829.993 25.343.834 908.365

411.074.635

295.439.253

8.179.753.799

6.044.521.633

(239.924.900)

Neto

c)

402.457.221 5.111.042 2.270.000 1.236.372

7.939.828.899

(131.831.158)

Total Allowance for impairment losses

5.912.690.475

c)


Related parties (Note 30) Rupiah Agriculture Business services Trading Others

Net

By remaining period to maturity The classification of loans based on the remaining period to maturity are as follows:

Klasifikasi jangka waktu kredit yang diberikan berdasarkan sisa umur sampai dengan jatuh temponya adalah sebagai berikut:


Pihak ketiga Rupiah ≤ 1 bulan > 1 bulan - 3 bulan > 3 bulan - 1 tahun > 1 tahun - 2 tahun > 2 tahun - 5 tahun > 5 tahun

Dolar Amerika Serikat > 1 bulan - 3 bulan > 3 bulan - 1 tahun

Pihak berelasi (Catatan 30) Rupiah ≤ 1 bulan > 1 bulan - 3 bulan > 3 bulan - 1 tahun > 1 tahun - 2 tahun > 2 tahun - 5 tahun > 5 tahun


109.638.108 354.184.526 1.758.638.155 940.648.568 1.478.372.184 3.067.617.638

84.236.122 180.696.426 1.396.682.518 417.309.509 1.447.178.101 2.146.866.482

7.709.099.179

5.672.969.158

59.579.985

2.314.051 73.799.171

59.579.985

76.113.222

7.768.679.164

5.749.082.380

Third parties Rupiah ≤ 1 month > 1 month - 3 months > 3 months - 1 year > 1 year - 2 years > 2 years - 5 years > 5 years

United States Dollar > 1 month - 3 months > 3 months - 1 year

Related parties (Note 30) Rupiah ≤ 1 month > 1 month - 3 months > 3 months - 1 year > 1 year - 2 years > 2 years - 5 years > 5 years

22.710.607 572.486 204.426.415 10.749.984 137.577.906 35.037.237

9.868.184 215.914.172 13.544.552 35.125.718 20.986.627

411.074.635

295.439.253

8.179.753.799

6.044.521.633

Total

(239.924.900)

(131.831.158)


7.939.828.899

5.912.690.475

Net

74




KREDIT YANG DIBERIKAN (lanjutan)

8.

LOANS (continued) d)

d) Berdasarkan kolektibilitas

By collectibility


Individual Kolektif Lancar Dalam perhatian khusus Kurang lancar Diragukan Macet

394.423.222

277.633.781

7.578.384.460 79.084.309 7.829.251 8.964.062 111.068.495

5.596.626.650 56.924.711 11.904.073 16.817.984 84.614.434

Individual Collective Current Special mention Substandard Doubtful Loss

Total

8.179.753.799

6.044.521.633

Total

Cadangan kerugian penurunan nilai Individual Kolektif Neto

(104.663.289) (135.261.611) 7.939.828.899

(29.826.770) (102.004.388) 5.912.690.475

e)

e) Berdasarkan segmen operasi

Allowance for impairment losses Individual Collective Net

By operating segment


Pihak ketiga Rupiah Menengah Ritel Konsumer Kemitraan

Dolar Amerika Serikat Menengah

Pihak berelasi (Catatan 30) Rupiah Menengah Ritel Konsumer


4.918.320.646 2.073.800.586 716.977.947 -

3.531.566.732 1.001.035.830 1.140.366.596

7.709.099.179

5.672.969.158

59.579.985

76.113.222

7.768.679.164

5.749.082.380

Third parties Rupiah Middle Retail Consumer Linkage

United States Dollar Middle

Related parties (Note 30) Rupiah Middle Retail Consumer

409.369.765 468.498 1.236.372

291.368.130 4.071.123 -

411.074.635

295.439.253

8.179.753.799

6.044.521.633

Total

(239.924.900)

(131.831.158)


7.939.828.899

5.912.690.475

Net

75




KREDIT YANG DIBERIKAN (lanjutan) f)

8.

f)

Informasi penting lainnya 1)

LOANS (continued) Other significant information 1)

Tingkat suku bunga rata-rata per tahun untuk kredit yang diberikan:

The annual average interest rates for loans:


Rupiah Bunga kontrak Bunga efektif Dolar Amerika Serikat Bunga kontrak Bunga efektif

12,89% 13,02%

13,29% 13,48%

Rupiah Contractual rate Effective rate

6,35% 6,35%

6,34% 6,46%

United States Dollar Contractual rate Effective rate

2)

Kredit yang diberikan pada umumnya dijamin dengan agunan yang diikat dengan hak tanggungan, surat kuasa untuk menjual, giro, tabungan, deposito atau jaminan lain yang umumnya diterima oleh perbankan (Catatan 15, 16 dan 17).

2) The loans are generally collateralized by registered mortgages, powers of attorneys to sell, demand deposits, saving deposits, time deposits or by other guarantees generally accepted by banks (Notes 15, 16 and 17).

3)

Kredit modal kerja dan investasi diberikan kepada debitur untuk memenuhi kebutuhan modal kerja dan barang-barang modalnya.

3) Working capital and investment loans represent loans to customers for working capital requirements and capital goods.

4)

Kredit konsumsi terdiri dari kredit pemilikan rumah, kredit kendaraan bermotor dan kredit perorangan lainnya.

4) Consumer loans consist of housing, motor vehicles and other personal loans.

5)

Kredit program merupakan kredit yang disalurkan Bank berdasarkan arahan dari Pemerintah dalam rangka mendukung pembangunan di Indonesia khususnya pengembangan usaha kecil, menengah dan koperasi.

5) Program loans represent loan facilities channeled through the Bank based on the guidelines from the Government to support the development of Indonesia’s small scale industry, middle and cooperative units.

6)

Kredit sindikasi merupakan kredit yang diberikan kepada debitur di bawah perjanjian pembiayaan bersama dengan bank lain. Keikutsertaan Bank sebagai pemimpin sindikasi sebesar 41,03% masing-masing pada tanggal 31 Desember 2016 dan 2015.

6) Syndicated loans represent loans provided to customers under syndication agreements with other bank. The Bank’s participation as a leader in the syndicated loans was 41.03% as of December 31, 2016 and 2015, respectively.

76





8.

f)

Informasi penting lainnya (lanjutan) 7)

LOANS (continued) Other significant information (continued) 7) The loans granted by the Bank to related parties (Note 30) are as follows:

Kredit yang diberikan Bank kepada pihak berelasi (Catatan 30) adalah sebagai berikut:


PT Perkebunan Nusantara XIII Perum Perhutani PT Perkebunan Nusantara VII PT Perkebunan Nusantara II PT Perkebunan Mitra Ogan PT Laras Astra Kartika PT Perkebunan Nusantara XIV PT Bringin Srikandi Finance PT Bringin Gigantara Koperasi Swakarya BRI PT Perkebunan Nusantara XI PT Mega Eltra Lain-lain

8)

142.941.171 89.550.000 49.955.669 48.027.906 29.190.607 25.241.003 17.550.865 4.642.544 2.270.000 468.498 1.236.372

101.509.561 47.707.926 22.970.784 29.235.697 18.375.715 14.667.236 647.400 2.334.496 31.557.377 24.696.434 1.736.627

411.074.635

295.439.253

8)

Jumlah kredit yang diberikan yang telah direstrukturisasi oleh Bank sampai dengan 31 Desember 2016 dan 2015 yang dilaporkan kepada Otoritas Jasa Keuangan masing-masing adalah sebesar Rp461.777.396 dan Rp291.554.424.

Loans have been restructured by the Bank until December 31, 2016 and 2015 which are reported to Otoritas Jasa Keuangan is amounted to Rp461,777,396 and Rp291,554,424, respectively.

Restructuring scheme involves extension of loan maturity date and reduction of interest rate.

Skema restrukturisasi tersebut dilakukan dengan perpanjangan jangka waktu dan penurunan suku bunga kredit.

9)

PT Perkebunan Nusantara XIII Perum Perhutani PT Perkebunan Nusantara VII PT Perkebunan Nusantara II PT Perkebunan Mitra Ogan PT Laras Astra Kartika PT Perkebunan Nusantara XIV PT Bringin Srikandi Finance PT Bringin Gigantara Koperasi Swakarya BRI PT Perkebunan Nusantara XI PT Mega Eltra Others

9)

Dalam laporan Batas Maksimum Pemberian Kredit (BMPK) per tanggal-tanggal 31 Desember 2016 dan 2015 kepada Bank Indonesia, Bank tidak memiliki debitur, baik pihak terkait maupun pihak tidak terkait yang melanggar atau melampaui ketentuan BMPK.

77

In its report on Legal Lending Limit (LLL) to Bank Indonesia as of December 31, 2016 and 2015, the Bank indicated that there is no debtor either related party or third party who has not complied with or exceeded the LLL.





8.

LOANS (continued) f)

Informasi penting lainnya (lanjutan)

Other significant information (continued) 10) The details of non-performing collective loans (with collectibility 3, 4 and 5) and total individual loans, also total allowance for impairment losses by economic sector are as follows:

10) Rincian kredit kolektif bermasalah (kolektibilitas 3, 4 dan 5) dan total kredit individual, serta total cadangan kerugian penurunan nilai, berdasarkan sektor ekonomi adalah sebagai berikut:


Pertanian Perdagangan Konstruksi Jasa dunia usaha Pengangkutan Perindustrian Jasa pelayanan sosial Pertambangan Lain-lain

296.690.323 103.097.751 35.898.495 25.444.186 11.758.794 13.069.651 5.387.652


30.938.178

241.578.830 49.308.419 29.403.855 28.954.891 14.860.285 5.222.827 6.273.184 811.439 14.556.542

Agriculture Trading Constructions Business services Transportation Manufacturing Social services Mining Others

522.285.030

390.970.272

Total

(149.385.435)

(63.949.044)

372.899.595

327.021.228

Allowance for impairment losses Net

11) Ratios

11) Rasio-rasio a. Rasio kredit bermasalah – Non Performing Loan (NPL) Bank berdasarkan Peraturan Bank Indonesia adalah sebagai berikut:

b. The ratio of non-performing loans (NPL) of the Bank, based on Bank Indonesia regulation are as follows:


Total kredit bermasalah (NPL) Total kredit yang diberikan*) % Kredit bermasalah (NPL-bruto) % Kredit bermasalah (NPL-neto) *)

234.368.928

113.336.491

Total non-performing loans

8.139.613.328

5.980.513.775

Total loans*)

2,88%

1,90%

Non-performing loans (gross) %

1,36%

1,32%

Non-performing loans (net) % *)

Diluar kredit yang diberikan kepada bank lain

Exclude loans granted to other banks

b. The ratio of small business loans to total loans is 7.88% and 16.25% as of December 31, 2016 and 2015, respectively (unaudited).

b. Rasio kredit usaha kecil terhadap jumlah kredit yang diberikan Bank adalah sebesar 7,88% and 16,25% masing-masing pada tanggal 31 Desember 2016 dan 2015 (tidak diaudit).

78





8.

LOANS (continued) f)

Informasi penting lainnya (lanjutan)

Other significant information (continued) Movements of the allowance for impairment losses on loans are as follows:

Perubahan cadangan kerugian penurunan nilai kredit yang diberikan adalah sebagai berikut:


9.

Saldo awal Pembentukan cadangan selama tahun berjalan (Catatan 25) Penghapusbukuan selama tahun berjalan Penerimaan kembali hapus buku

131.831.158

100.904.246

135.215.831

104.070.544

(27.204.780) 82.691

(74.163.330) 1.019.698

Saldo akhir

239.924.900

131.831.158

Ending balance

Jumlah minimum cadangan kerugian penurunan nilai kredit yang diberikan, yang wajib dibentuk sesuai dengan ketentuan Bank Indonesia adalah sebesar Rp265.634.640 dan Rp148.684.551 masing-masing pada tanggal 31 Desember 2016 dan 2015.

The minimum allowance for impairment losses on loans provided based on Bank Indonesia regulation amounted to Rp265,634,640 and Rp148,684,551 as of December 31, 2016 and 2015, respectively.

Manajemen berpendapat bahwa jumlah cadangan kerugian penurunan nilai yang dibentuk telah memadai.

Management believes that the allowance for impairment losses is adequate.

TAGIHAN DAN LIABILITAS AKSEPTASI a)

Beginning balance Provision for allowance during the year (Note 25) Loans written-off during the year Recovery of loans written-off

9.

a)







Pihak ketiga Rupiah Surat Kredit Berdokumen Dalam Negeri Dolar Amerika Serikat Letter of Credit Surat Kredit Berdokumen Dalam Negeri

ACCEPTANCES RECEIVABLE AND PAYABLE

Ekuivalen Rupiah/ Rupiah Equivalent

3.040.000


3.949.614

2.089.143

28.145.974

1.710.813

23.583.553

4.346.149

58.553.497

-

89.739.471

27.533.167

Third parties Rupiah Domestic Documentary Letter of Credit United States Dollar Letter of Credit Domestic Documentary Letter of Credit

Total acceptances payable represent the same amount as acceptances receivable from customers.

Total liabilitas akseptasi adalah sebesar jumlah tagihan akseptasi kepada nasabah.

79



TAGIHAN (lanjutan) b)

DAN

LIABILITAS


AKSEPTASI

9.

ACCEPTANCES RECEIVABLE AND PAYABLE (continued) b)


As of December 31, 2016 and 2015, all acceptances receivable were classified as “current”.

Pada tanggal-tanggal 31 Desember 2016 dan 2015, seluruh tagihan akseptasi diklasifikasikan “lancar”. c)

By collectibility

c)


By remaining period to maturity The classification of acceptances receivable based on the remaining period to maturity follows:

Klasifikasi jangka waktu tagihan akseptasi berdasarkan sisa umur sampai dengan saat jatuh tempo adalah sebagai berikut:


≤ 1 bulan > 1 bulan - 3 bulan > 3 bulan - 1 tahun

33.778.955 49.560.634 6.399.882

11.782.326 11.801.227 3.949.614

≤ 1 month > 1 month - 3 months > 3 months - 1 year

Total

89.739.471

27.533.167

Total

Bank melakukan penilaian cadangan kerugian penurunan nilai atas tagihan akseptasi secara individual dengan adanya bukti obyektif penurunan nilai.

The Bank performs allowance for impairment losses on acceptances receivable individually with objectives evidence of impairment.

Manajemen berpendapat bahwa jumlah cadangan kerugian penurunan nilai tidak diperlukan pada tanggal-tanggal 31 Desember 2016 dan 2015, karena manajemen berkeyakinan bahwa tagihan akseptasi dapat tertagih.

Management believes that the allowance for impairment losses is not necessary as of December 31, 2016 and 2015, because management believes that acceptances receivable are fully collectible.

10. PENYERTAAN SAHAM

10. INVESTMENT IN SHARES OF STOCKS The details of investment in shares of stocks are as follows:

Rincian penyertaan saham adalah sebagai berikut:

31 Desember/ December 31, 2016 Nama Perusahaan PT BPR Toelongredjo Dasa Nusantara PT BPR Tjoekir Dasa Nusantara PT BPR Toelangan Dasa Nusantara PT BPR Cinta Manis Agroloka PT BPR Bungamayang Agroloka PT Aplikanusa Lintasarta

Jenis usaha/ Business type

Pemilikan/ Ownership

Bank Bank Bank Bank Bank Non-bank

1,50% 3,00 1,50 1,75 2,25 0,03

Total

80

Nilai Tercatat/ Carrying Value

Company Name

76.830 76.818 66.500 35.010 22.500 20.000

PT BPR Toelongredjo Dasa Nusantara PT BPR Tjoekir Dasa Nusantara PT BPR Toelangan Dasa Nusantara PT BPR Cinta Manis Agroloka PT BPR Bungamayang Agroloka PT Aplikanusa Lintasarta

297.658

Total


PT BANK RAKYAT INDONESIA AGRONIAGA Tbk CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam ribuan Rupiah, kecuali dinyatakan lain)


10. PENYERTAAN SAHAM (lanjutan)

10. INVESTMENT (continued)

IN

SHARES

OF

STOCKS

The details of investment in shares of stocks are as follows (continued):

Rincian penyertaan saham adalah sebagai berikut (lanjutan):

31 Desember/ December 31, 2015 Jenis usaha/ Business type

Nama Perusahaan PT BPR Toelongredjo Dasa Nusantara PT BPR Tjoekir Dasa Nusantara PT BPR Toelangan Dasa Nusantara PT BPR Cinta Manis Agroloka PT BPR Bungamayang Agroloka PT Aplikanusa Lintasarta

Pemilikan/ Ownership

Bank Bank Bank Bank Bank Non-bank

Nilai Tercatat/ Carrying Value

3,00% 3,00 1,50 1,75 2,25 0,03

Total

Company Name

76.830 76.818 66.500 35.010 22.500 20.000

PT BPR Toelongredjo Dasa Nusantara PT BPR Tjoekir Dasa Nusantara PT BPR Toelangan Dasa Nusantara PT BPR Cinta Manis Agroloka PT BPR Bungamayang Agroloka PT Aplikanusa Lintasarta

297.658

Total

Seluruh penyertaan saham masing-masing pada tanggal 31 Desember 2016 dan 2015 diklasifikasikan “lancar”.

All investment in shares of stocks as of December 31, 2016 and 2015 were classified as “current”.

Manajemen berpendapat bahwa jumlah cadangan kerugian penurunan nilai tidak diperlukan pada tanggal-tanggal 31 Desember 2016 dan 2015, karena manajemen berkeyakinan bahwa penyertaan saham dapat tertagih.

Management believes that the allowance for impairment losses is not necessary as of December 31, 2016 and 2015, because management believes that investment in shares of stocks are fully collectible.

11. ASET TETAP

11. PREMISES AND EQUIPMENT 31 Desember/December 31, 2016 Saldo Awal/ Beginning Balance

Biaya perolehan Hak atas tanah Bangunan Renovasi bangunan sewa Kendaraan Perlengkapan kantor Tanah dan bangunan yang belum digunakan

Akumulasi penyusutan Bangunan Renovasi bangunan sewa Kendaraan Perlengkapan kantor

Nilai buku neto

16.585.348 23.354.771 14.304.359 14.186.445 52.753.641

Reklasifikasi/ Reclassifications

Saldo Akhir/ Ending Balance

365.685 1.026.817 2.206.099

110.376.000 64.326.229 (300.364) 9.750

129.487.303 91.027.761 14.983.675 16.025.514 57.682.388

(174.411.615)

Penambahan/ Additions

Pengurangan/ Deductions

2.525.955 3.346.761 1.345.365 2.865.886 7.125.096

174.411.615

-

-

295.596.179

17.209.063

3.598.601

1.497.153 9.463.717 5.370.029 42.226.945

3.340.840 1.696.290 3.043.389 4.142.520

365.685 950.402 2.206.099

58.557.844

12.223.039

3.522.186

237.038.335

39.799 (40.774) 975 -

309.206.641 4.877.792 10.753.548 7.463.016 44.164.341

Accumulated depreciation Buildings Office leasehold improvements Vehicles Office equipment

67.258.697 241.947.944

81

Acquisition cost Landrights Buildings Office leasehold improvements Vehicles Office equipment Land and building that has not been used

Net book value




11. ASET TETAP (lanjutan)

11. PREMISES AND EQUIPMENT (continued) 31 Desember/December 31, 2015 Saldo Awal/ Beginning Balance

Biaya perolehan Hak atas tanah Bangunan Renovasi bangunan sewa Kendaraan Perlengkapan kantor Tanah dan bangunan yang belum digunakan

Akumulasi penyusutan Bangunan Renovasi bangunan sewa Kendaraan Perlengkapan kantor

Nilai buku neto

Pengurangan/ Deductions

11.490.348 18.854.126 11.251.875 10.472.254 49.357.701

5.095.000 4.500.645 3.052.484 4.138.541 3.740.279

424.350 344.339

-

16.585.348 23.354.771 14.304.359 14.186.445 52.753.641

-

174.411.615

-

-

174.411.615

101.426.304

194.938.564

768.689

-

295.596.179

566.494 7.864.687 3.904.192 39.257.963

930.659 1.599.030 1.890.187 3.313.321

424.350 344.339

-

1.497.153 9.463.717 5.370.029 42.226.945

51.593.336

7.733.197

768.689

-

58.557.844

49.832.968

Reklasifikasi/ Reclassifications

Saldo Akhir/ Ending Balance

Penambahan/ Additions

237.038.335

Acquisition cost Landrights Buildings Office leasehold improvements Vehicles Office equipment Land and building that has not been used

Accumulated depreciation Buildings Office leasehold improvements Vehicles Office equipment

Net book value

Untuk tahun yang berakhir pada tanggal 31 Desember 2016, terdapat reklasifikasi atas renovasi bangunan sewa sebesar Rp300.364 ke dalam bangunan dan perlengkapan kantor masingmasing sebesar Rp290.614 dan Rp9.750, reklasifikasi akumulasi penyusutan atas renovasi bangunan sewa sebesar Rp40.774 ke dalam bangunan dan perlengkapan kantor masing-masing sebesar Rp39.799 dan Rp975, serta reklasifikasi atas tanah dan bangunan yang belum digunakan sebesar Rp174.411.615 ke dalam hak atas tanah dan bangunan masing-masing sebesar Rp110.376.000 dan Rp64.035.615.

For the year ended December 31, 2016, there are reclassifications of acquisition costs of office leasehold improvements amounted to Rp300,364 into buildings and office equipment amounted to Rp290,614 and Rp9,750, respectively, reclassifications of accumulated depreciation of office leasehold improvements amounted to Rp40,774 into buildings and office equipment amounted to Rp39,799 and Rp975, respectively, and reclassifications of land and building that has not been used amounted to Rp174,411,615 into landrights and buildings amounted to Rp110,376,000 and Rp64,035,615, respectively.

Tanah dan bangunan yang belum digunakan merupakan pembelian tanah dan bangunan yang dilakukan oleh Bank, namun sampai dengan tanggal 31 Desember 2015 belum digunakan. Biaya yang terjadi sehubungan dengan pemugaran atau renovasi dikapitalisasi ke dalam jumlah tercatat aset.

Land and building that have not been used is the purchase of land and building by the Bank, but have not been used until December 31, 2015. Costs incurred in connection with the restoration or renovation are capitalized into the carrying amount of the asset.

Jumlah penyusutan aset tetap yang dibebankan pada laporan laba rugi dan penghasilan komprehensif lain adalah masing-masing sebesar Rp12.223.039 dan Rp7.733.197 untuk tahun yang berakhir pada tanggal-tanggal 31 Desember 2016 dan 2015 (Catatan 27).

Depreciation charged to current operations as reported in the statement of profit or loss and other comprehensive income amounted to Rp12,223,039 and Rp7,733,197 for the years ended December 31, 2016 and 2015, respectively (Note 27).

82





11. PREMISES AND EQUIPMENT (continued) The detail of the sale of Bank’s premises and equipment are as follows:

Rincian penjualan aset tetap Bank adalah sebagai berikut:


Biaya perolehan Kendaraan Perlengkapan kantor

852.117 2.206.099

424.350 344.339

Akumulasi penyusutan

3.058.216 (3.058.216)

768.689 (768.689)

Acquisition cost Vehicles Office equipment Accumulated depreciation

Nilai buku Harga jual

472.560

174.015

Book value Selling price

Laba penjualan (Catatan 28)

472.560

174.015

Gain on sale (Note 28)

Untuk tahun yang berakhir pada tanggal 31 Desember 2016, terdapat aset tetap yang dihapusbukukan terdiri dari perlengkapan kantor dengan harga perolehan dan akumulasi penyusutan masing-masing sebesar Rp365.685 dan kendaraan dengan harga perolehan sebesar Rp174.700 dan akumulasi penyusutan sebesar Rp98.285.

For the year ended December 31, 2016, there are premises and equipment written-off consist of office equipment with acquisition costs and accumulated depreciation amounted to Rp365,685, respectively and vehicles with acquisition costs amounted to Rp174,700 and accumulated depreciation amounted to Rp98,285.

Bank telah mengasuransikan aset tetap kecuali tanah untuk menutup kemungkinan kerugian terhadap risiko kebakaran dan pencurian kepada PT Asuransi Jasa Tania, PT Asuransi Bringin Sejahtera Artamakmur dan PT Asuransi Wahana Tata dengan nilai pertanggungan seluruhnya sebesar Rp243.687.894 dan Rp233.922.287 masing-masing untuk tahun yang berakhir pada tanggal-tanggal 31 Desember 2016 dan 2015.

The Bank has insured its premises and equipment except landrights for possible losses due to risks of fire and theft by PT Asuransi Jasa Tania, PT Asuransi Bringin Sejahtera Artamakmur and PT Asuransi Wahana Tata, with coverage amount of Rp243,687,894 and Rp233,922,287 for the years ended December 31, 2016 and 2015, respectively.

Pada tanggal 31 Desember 2016 dan 2015, jumlah tercatat bruto dari setiap aset tetap yang telah disusutkan penuh dan masih digunakan masingmasing sebesar Rp43.619.603 dan Rp40.393.652 (tidak diaudit).

As of December 31, 2016 and 2015, the gross amount of premises and equipment which have been fully depreciated and are still in used amounted to Rp43,619,603 and Rp40,393,652, respectively (unaudited).

Nilai wajar tanah dan bangunan yang dimiliki Bank pada tanggal-tanggal 31 Desember 2016 dan 2015 tidak berbeda jauh dengan nilai tercatat karena penambahan tanah dan bangunan yang signifikan terjadi pada tanggal 26 Juni 2015. Selain tanah dan bangunan tidak terdapat perbedaan signifikan antara nilai wajar aset dan nilai tercatatnya.

There is no significant difference between fair value and carrying value of landrights and buildings owned by the Bank as of December 31, 2016 and 2015, respectively because significant additional of landrights and buildings on June 26, 2015. Other than landrights and buildings there are no significant difference between the fair value of the asset and its carrying value.

83





11. PREMISES AND EQUIPMENT (continued) Management believes that there is no impairment of premises and equipment and the insurance coverage to cover the possibility of losses on premises and equipment is adequate as of December 31, 2016 and 2015.

Manajemen berpendapat bahwa tidak terdapat penurunan nilai aset tetap dan jumlah nilai pertanggungan asuransi cukup untuk menutup risiko kerugian yang mungkin timbul atas aset tetap pada tanggal-tanggal 31 Desember 2016 dan 2015.

12. AGUNAN YANG DIAMBIL ALIH

12. FORECLOSED COLLATERALS The details of foreclosed collaterals (AYDA) held by the Bank as of December 31, 2016 and 2015 are as follows:

Rincian agunan yang diambil alih (AYDA) yang dimiliki Bank pada tanggal-tanggal 31 Desember 2016 dan 2015 adalah sebagai berikut:


Debitur/ Debtors

No. 1. 2.

PT Mulyasari R Gemilang PT Kebun Citra Nugraha

Jumlah Unit/Kavling/ Number of Unit/Lot

Jenis agunan yang diambil alih/ Type of foreclosed collaterals Tanah dan Bangunan/Land and Properties Tanah /Land

Nilai tercatat awal/ Beginning carrying value

1 5

Total Cadangan kerugian penurunan nilai/Allowance for impairment losses Neto/Net

Nilai tercatat akhir/ Ending carrying value

Penyesuaian tahun berjalan/ Adjustment during the year

586.008 26.740

(232.777 ) -

353.231 26.740

612.748 (313.723 )

(232.777 ) 116.127

379.971 (197.596 )

299.025

(116.650 )

182.375


Debitur/ Debtors

No. 1. 2.

PT Mulyasari R Gemilang PT Kebun Citra Nugraha

Jumlah Unit/Kavling/ Number of Unit/Lot

Jenis agunan yang diambil alih/ Type of foreclosed collaterals Tanah dan Bangunan/Land and Properties Tanah /Land

Nilai tercatat awal/ Beginning carrying value

2 5

Total Cadangan kerugian penurunan nilai/Allowance for impairment losses Neto/Net

586.008 26.740

Nilai tercatat akhir/ Ending carrying value

Penyesuaian tahun berjalan/ Adjustment during the year -

586.008 26.740

612.748 (273.623 )

(40.100 )

612.748 (313.723 )

339.125

(40.100 )

299.025

Atas penjualan AYDA untuk tahun yang berakhir pada tanggal-tanggal 31 Desember 2016 dan 2015, Bank membukukan laba penjualan masingmasing sebesar Rp322.426 dan RpNihil (Catatan 28).

For the sale of AYDA for the years ended December 31, 2016 and 2015, resulted to gain on sale amounted to Rp322,426 and RpNil, respectively (Note 28).

Perubahan cadangan kerugian penurunan nilai adalah sebagai berikut:

Movements of the allowance for impairment losses are as follows:


Saldo awal (Pembalikan) pembentukan cadangan selama tahun berjalan (Catatan 25) Penjualan tahun berjalan

313.723

273.623

(25.209) (90.918)

40.100 -

Beginning balance (Reversal) provision for allowance during the year (Note 25) Sales during the year

Saldo akhir

197.596

313.723

Ending balance

84


PT BANK RAKYAT INDONESIA AGRONIAGA Tbk CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam ribuan Rupiah, kecuali dinyatakan lain) 13. BIAYA DIBAYAR LAIN-LAIN

DIMUKA

DAN

ASET

13. PREPAID EXPENSES AND OTHER ASSETS





Rupiah Biaya dibayar dimuka Piutang bunga Setoran jaminan Lain-lain

Dolar Amerika Serikat Piutang bunga


9.625

Total



13.730.501 13.891.123 743.400 516.771

18.178.351 10.015.004 2.232.076 278.779

28.881.795

30.704.210

129.673

22.327

29.011.468

14. LIABILITAS SEGERA

Rupiah Prepaid expenses Interest receivables Guarantee deposit Others

307.771

United States Dollar Interest receivables

31.011.981

Total

14. LIABILITIES DUE IMMEDIATELY 31 Desember/ 31 Desember/ December 31, 2016 December 31, 2015

Umum dan administrasi Titipan transfer dan ATM Personalia Titipan dana pihak ketiga Titipan lain-lain Total

5.915.371 3.777.192 148.702 4.799 558.883

8.759.137 7.228.871 2.961.074 15.822 397.885

General and administrative Transfer and ATM deposits Personnel Third party deposits Other deposits

10.404.947

19.362.789

Total

15. GIRO

Pihak ketiga Rupiah Dolar Amerika Serikat


Total

15. DEMAND DEPOSITS 31 Desember/December 31, 2016




9.232.698

39.927


440.148.326 124.387.530

4.626


354.950.759 63.783

564.535.856

355.014.542

114.772.931 537.910

89.076.372 12.256.842

889.143

115.310.841

101.333.214

679.846.697

456.347.756

85

Third parties Rupiah United States Dollar


Total




15. GIRO (lanjutan)

15. DEMAND DEPOSITS (continued) The annual average interest rates for demand deposits:

Tingkat suku bunga rata-rata per tahun untuk giro:



0,98% 0,19%

1,06% 0,25%


Demand deposits used as collateral for banking facilities granted by the Bank is amounted to Rp5,285,584 and RpNil as of December 31, 2016 and 2015, respectively.

Giro yang dijadikan jaminan atas fasilitas perbankan yang diberikan oleh Bank adalah sebesar Rp5.285.584 dan RpNihil masing-masing pada tanggal-tanggal 31 Desember 2016 dan 2015.

16. TABUNGAN

16. SAVING DEPOSITS 31 Desember/ 31 Desember/ December 31, 2016 December 31, 2015

Pihak ketiga Rupiah Tabungan BRI Agro Tabungan Premium - BRI Agro Tabungan Berhadiah - BRI Agro Tabunganku Tabungan Masa Depan - BRI Agro Tabungan Pintar - BRI Agro

Pihak berelasi (Catatan 30) Rupiah Tabungan Berhadiah - BRI Agro Tabungan BRI Agro Tabungan Premium - BRI Agro Tabungan Masa Depan - BRI Agro Tabunganku

Total

211.832.672 138.098.577 96.479.343 6.510.641 1.960.296 92.207

278.696.812 90.711.439 68.915.270 6.347.048 1.000.745 156.081

454.973.736

445.827.395

2.277.325 2.159.984 1.571.324 140.712 209

263.040 5.024.535 505.506 184.196 22.690

6.149.554

5.999.967

461.123.290

451.827.362

Third parties Rupiah Tabungan BRI Agro Tabungan Premium - BRI Agro Tabungan Berhadiah - BRI Agro Tabunganku Tabungan Masa Depan - BRI Agro Tabungan Pintar - BRI Agro

Related parties (Note 30) Rupiah Tabungan Berhadiah - BRI Agro Tabungan BRI Agro Tabungan Premium - BRI Agro Tabungan Masa Depan - BRI Agro Tabunganku

Total

Tingkat suku bunga rata-rata per tahun untuk tabungan adalah 3,67% dan 2,69% masing-masing untuk tahun yang berakhir pada tanggal 31 Desember 2016 dan 2015.

The annual average interest rates for saving deposits are 3.67% and 2.69% for the years ended December 31, 2016 and 2015, respectively.

Tabungan yang dijadikan jaminan atas fasilitas perbankan yang diberikan oleh Bank adalah sebesar Rp5.470.000 dan Rp1.995.238, masingmasing pada tanggal 31 Desember 2016 dan 2015.

Savings deposits used as collateral for banking facilities granted by the Bank is amounted to Rp5,470,000 and Rp1,995,238 as of December 31, 2016 and 2015, respectively.

86




17. DEPOSITO BERJANGKA

17. TIME DEPOSITS 31 Desember/December 31, 2016 Jumlah nosional mata uang asing/ Notional amount Ekuivalen foreign currency Rupiah/ (Angka penuh/ Rupiah Full amount) Equivalent

Pihak ketiga Rupiah Dolar Amerika Serikat


Total

1.908.098

166.534

5.990.934.804 25.706.844



5.290.529.701 382.307.082

27.733.557

6.016.641.648

5.672.836.783

2.063.923.241 2.243.627

281.039.279 -

2.066.166.868

281.039.279

8.082.808.516

5.953.876.062

Third parties Rupiah United States Dollar


Total

Time deposits based on their contractual periods are as follows:

Deposito berjangka berdasarkan periode kontrak adalah sebagai berikut:


Pihak ketiga Rupiah Deposits on call Deposito 1 bulan 3 bulan 6 bulan 12 bulan

Dolar Amerika Serikat Deposits on call Deposito 1 bulan 6 bulan

Pihak berelasi (Catatan 30) Rupiah Deposits on call Deposito 1 bulan 3 bulan 6 bulan 12 bulan

462.795.000

605.064.000

3.400.988.181 1.767.759.017 260.664.111 98.728.495

3.310.078.609 1.040.723.591 293.535.135 41.128.366

5.990.934.804

5.290.529.701

12.125.250

95.116.293

8.227.345 5.354.249

281.726.317 5.464.472

25.706.844

382.307.082

6.016.641.648

5.672.836.783

367.334.904

-

1.141.437.753 454.965.000 97.820.000 2.365.584

273.564.279 7.475.000 -

2.063.923.241

281.039.279

87

Third parties Rupiah Deposits on call Deposits 1 month 3 months 6 months 12 months

United States Dollar Deposits on call Deposits 1 month 6 months

Related parties (Note 30) Rupiah Deposits on call Deposits 1 month 3 months 6 months 12 months




17. DEPOSITO BERJANGKA (lanjutan)

17. TIME DEPOSITS (continued) Time deposits based on their contractual periods are as follows (continued):

Deposito berjangka berdasarkan periode kontrak adalah sebagai berikut (lanjutan):


Pihak berelasi (Catatan 30) (lanjutan) Dolar Amerika Serikat Deposito 1 bulan 3 bulan

Total

270.806 1.972.821

-

2.243.627

-

2.066.166.868

281.039.279

8.082.808.516

5.953.876.062

Related parties (Note 30) (continued) United States Dollar Deposits 1 month 3 months

Total

The annual average interest rates for time deposits:

Tingkat suku bunga rata-rata per tahun untuk deposito berjangka:



8,39% 1,83%

8,55% 1,25%


Time deposits used as collateral for banking facilities granted by the Bank is amounted to Rp161,548,811 and Rp159,505,261 as of December 31, 2016 and 2015, respectively.

Deposito berjangka yang dijadikan jaminan atas fasilitas perbankan yang diberikan oleh Bank adalah sebesar Rp161.548.811 dan Rp159.505.261 masing-masing pada tanggal 31 Desember 2016 dan 2015.

18. SIMPANAN DARI BANK LAIN

18. DEPOSITS FROM OTHER BANKS 31 Desember/ 31 Desember/ December 31, 2016 December 31, 2015

Pihak ketiga Rupiah Deposito berjangka Giro

3.000.000 714.202

3.000.000 889.698

Third parties Rupiah Time deposits Demand deposits

Total

3.714.202

3.889.698

Total

The annual average interest rates for deposits from other banks are as follows:

Tingkat suku bunga rata-rata per tahun untuk simpanan dari bank lain adalah:


Rupiah Deposito berjangka Giro

6,51% 2,35%

88

6,19% 3,14%

Rupiah Time deposits Demand deposits




18. SIMPANAN DARI BANK LAIN (lanjutan)

18. DEPOSITS FROM OTHER BANKS (continued)

The classification by period of deposits from other banks based on remaining period to maturity are as follows:

Klasifikasi jangka waktu simpanan dari bank lain berdasarkan sisa umur jatuh tempo adalah sebagai berikut:

31 Desember/ 31 Desember/ December 31, 2016 December 31, 2015 ≤ 1 bulan/ month

≤ 1 bulan/ month

Pihak ketiga Rupiah Deposito berjangka Giro

3.000.000 714.202

3.000.000 889.698

Third parties Rupiah Time deposits Demand deposits

Total

3.714.202

3.889.698

Total

As of December 31, 2016 and 2015, there are no deposits from other banks used as collateral for banking facilities granted.

Pada tanggal-tanggal 31 Desember 2016 dan 2015, tidak terdapat simpanan dari bank lain yang dijadikan sebagai jaminan atas fasilitas perbankan yang diberikan oleh Bank.

19. PERPAJAKAN a.

19. TAXATION a.

Utang pajak

Taxes payable As of December 31, 2016 and 2015, the details of taxes payable are as follows:

Pada tanggal-tanggal 31 Desember 2016 dan 2015, rincian utang pajak adalah sebagai berikut:


Pajak penghasilan Pasal 21 Pasal 23 Pasal 25 Pasal 29 Pasal 4 ayat (2) Pajak pertambahan nilai

39.387 226.832 1.426.313 6.391.405 180

1.134.183 214.228 2.243.045 1.754.206 5.080.618 270

Income tax Article 21 Article 23 Article 25 Article 29 Article 4 (2) Value added tax

Total

8.084.117

10.426.550

Total

89




19. PERPAJAKAN (lanjutan) b.

19. TAXATION (continued) b.

Beban pajak

Tax expense

Tahun yang Berakhir pada Tanggal 31 Desember/for the Years Ended December 31

Beban pajak kini Beban pajak tangguhan

2016

2015

35.663.658 2.598.702

28.385.442 1.917.946

38.262.360

30.303.388

Current tax expense Deferred Income tax expense

The reconciliation between income before tax expense as presented in the statements of profit or loss and other comprehensive income and estimated taxable income are as follows:

Rekonsiliasi antara laba sebelum beban pajak seperti yang disajikan dalam laporan laba rugi dan penghasilan komprehensif lain dan taksiran penghasilan kena pajak adalah sebagai berikut:

Tahun yang Berakhir pada Tanggal 31 Desember/for the Years Ended December 31 2016 Laba sebelum beban pajak sesuai dengan laporan laba rugi dan penghasilan komprehensif lain Perbedaan temporer (Keuntungan) kerugian yang belum direalisasi dari nilai efek-efek yang diukur pada nilai wajar melalui laporan laba rugi (Pembalikan) pembentukan cadangan litigasi (Pembalikan) pembentukan atas cadangan kerugian penurunan nilai diluar kredit yang diberikan Penyusutan aset tetap Pembentukan (pembalikan) cadangan beban pegawai Pembalikan cadangan kerugian kredit yang diberikan

Perbedaan tetap Representasi dan sumbangan Kegiatan pegawai Biaya sewa dan pemeliharaan rumah dinas Lain-lain

Taksiran penghasilan kena pajak

2015

141.265.512

110.795.268

Income before tax expense based on the statements of profit or loss and other comprehensive income Temporary differences

(10.061.620)

4.066.328

(830.627)

2.007.256

(116.127) (873.478)

40.100 (1.398.112)

10.343.390

(2.167.568)

(8.856.347)

(10.219.788)

(10.394.809)

(7.671.784)

6.551.203 1.985.441

5.973.883 1.355.892

1.234.554 2.012.731

1.216.109 1.872.398

11.783.929

10.418.282

142.654.632

113.541.766

90

Unrealized (gain) loss on fair value through profit or loss (Reversal of) provision for litigation reserve (Reversal of) provision for allowance for impairment losses on non loan Depreciation of premises and equipment Provision for (reversal of) employee expenses Reversal of allowance for impairment losses on loans

Permanent differences Representations and donations Employee activities Rent and maintenance of office housing expenses Others

Estimated taxable income






Beban pajak (lanjutan)

Tax expense (continued) The computation of corporate income tax expense and income tax payable are as follows:

Perhitungan beban dan utang pajak penghasilan badan adalah sebagai berikut:

Tahun yang Berakhir pada Tanggal 31 Desember/for the Years Ended December 31 2016 Taksiran penghasilan kena pajak Beban pajak kini Pembayaran angsuran pajak penghasilan selama tahun berjalan Utang pajak penghasilan - Pasal 29

2015

142.654.632

113.541.766

Estimated taxable income

35.663.658

28.385.442

Current tax expense

(34.237.345)

(26.631.236)

Income tax installment payments during the years

1.426.313

1.754.206

Corporate income tax payable - Article 29

The reconciliation of income tax expense by multiplying income before income tax to the applicable tax rate are as follows:

Rekonsiliasi atas beban pajak penghasilan dengan perkalian laba sebelum pajak penghasilan dan tarif pajak yang berlaku adalah sebagai berikut:

Tahun yang Berakhir pada Tanggal 31 Desember/for the Years Ended December 31 2016 Laba sebelum beban pajak sesuai dengan laporan laba rugi dan penghasilan komprehensif lain Beban pajak dengan tarif pajak 25% Pengaruh pajak atas beda tetap

2015

141.265.512

110.795.268

Income before tax expense based on the statements of profit or loss and other comprehensive income

35.316.378

27.698.817

Tax expense with a tax rate of 25%

2.945.982

2.604.571

Tax effect on permanent differences

38.262.360

30.303.388

Estimated taxable income for 2015 is consistent with the Annual Tax Return (SPT) for corporate income tax reported by the Bank to the Tax Office (KPP). Taxable income after reconciliation for 2016 is based on the Annual Tax Return (SPT) for corporate income tax reported by the Bank to the Tax Office (KPP).

Taksiran penghasilan kena pajak tahun 2015 sesuai dengan Surat Pemberitahuan Tahunan (SPT) yang dilaporkan Bank kepada Kantor Pelayanan Pajak (KPP). Laba kena pajak hasil rekonsiliasi tahun 2016 akan menjadi dasar dalam pengisian Surat Pemberitahuan Tahunan (SPT) Pajak Penghasilan Badan yang dilaporkan Bank kepada Kantor Pelayanan Pajak (KPP).

91







Tax expense (continued)

Pemeriksaan tahun pajak 2008

Assessment for fiscal year 2008

Pada tanggal 31 Desember 2010, Bank telah menerima beberapa Surat Ketetapan Pajak (SKP) dan Surat Tagihan Pajak (STP) tahun 2008 dengan rincian sebagai berikut:

On December 31, 2010, the Bank has received several Tax Assessment Letters (TAL) and Tax Collection Letters (TCL) for fiscal year 2008 as follows:

Pokok/ Principal (Rp)

Denda/Bunga Penalty/Interest (Rp)

Tahun 2008 SKP PPh Pasal 4 ayat (2) No.00072/204/08/062/10 SKP PPh Badan No.00043/206/08/062/10 SKP PPN Kurang Bayar No.00275-286/207/08/062/10 SKP PPh Pasal 23 No.00136/203/08/062/10 SKP PPh Pasal 21 No.00127/201/08/062/10 SKP PPh Pasal 26 No.00037/204/08/062/10 SKP PPN Kurang Bayar No.00025/277/08/062/10 STP PPN No.00183/107/08/062/10 Total

Year 2008 20.844.603

9.588.517

1.954.430

899.038

878.636

421.745

483.950

222.617

341.196

156.950

20.531

9.444

14.146 -

6.507 175.727

TAL Article 4 (2) No.00072/204/08/062/10 TAL Corporate Income Tax No.00043/206/08/062/10 TAL VAT Underpayment No.00275-286/207/08/062/10 TAL Article 23 No.00136/203/08/062/10 TAL Article 21 No.00127/201/08/062/10 TAL Article 26 No.00037/204/08/062/10 TAL VAT Underpayment No.00025/277/08/062/10 TCL VAT No.00183/107/08/062/10

24.537.492

11.480.545

Total

Pada tanggal-tanggal 17 Maret 2011 dan 29 Maret 2011, Bank mengajukan surat keberatan atas seluruh SKP tersebut di atas, kecuali SKP atas PPh Pasal 23.

On March 17, 2011 and March 29, 2011, the Bank filed letters of tax objection on all of the aforementioned TAL, except TAL on Tax Article 23.

Pada tanggal 15 Maret 2012 berdasarkan Keputusan Direktur Jenderal Pajak No. KEP 311-314, No. KEP 316-320 dan No. KEP 322-328/WPJ.04/2012 keberatan Bank diterima sebagian.

On March 15, 2012, based on the Decree of the General Director of Tax No. KEP 311-314, No. KEP 316-320 and No. KEP 322328/WPJ.04/2012, the Bank’s tax objection was partially accepted.

Bank mengajukan permohonan banding atas Keputusan Direktur Jenderal Pajak tanggal 15 Maret 2012 tersebut, ke pengadilan pajak sesuai dengan tanda terima Pengadilan Pajak No. T-1821-1836/SP.21/2012 tanggal 27 Juni 2012.

The Bank submitted an appeal against the Decree of General Director of Tax dated March 15, 2012 to the Tax Court based on Tax Court Receipt No. T-1821-1836/SP.21/2012 dated June 27, 2012.

Pada tanggal 11 November 2013 berdasarkan Putusan Pengadilan Pajak No.Put.4785647867/PP/M.II/16/2013 atas SKP PPN Kurang Bayar No. 00275-286/207/08/062/10, permohonan banding diterima sebagian.

On November 11, 2013, based on the Decree of the Tax Court No. Put.47856-47867/PP/M.II/16/2013 of TAL VAT Underpayment No. 00275-286/207/08/062/10, the appeal was partially accepted.

92








Pemeriksaan tahun pajak 2008 (lanjutan)

Assessment (continued)

Pada tanggal 12 Desember 2013 berdasarkan Putusan Pengadilan Pajak No. Put. 48822/PP/M.II/16/2013 atas SKP PPN Kurang Bayar No. 00025/277/08/062/10 permohonan banding diterima sebagian. Pada tanggal 20 Desember 2013 berdasarkan Putusan Pengadilan Pajak No. Put. 49509/PP/M.II/13/2013 atas SKP PPh Pasal 26 No. 00037/204/08/062/10 permohonan banding Bank diterima sebagian. Bank telah membayar seluruh kekurangan pembayaran pajak atas SKP PPN No. 00275286/207/08/062/10, SKP PPN No. 00025/277/08/062/10 dan SKP PPh Pasal 26 No. 00037/204/08/062/10.

On December 12, 2013 based on the Decree of the Tax Court No.Put. 48822/PP/M.II/16/2013 of TAL VAT Underpayment No.00025/277/08/062/10, the appeal was partially accepted. On December 20, 2013 based on the Decree of the Tax Court No. Put. 49509/PP/M.II/ 13/2013 of TAL Article 26 No. 00037/204/08/062/10, the Bank’s appeal was partially accepted. The Bank has paid all the underpayments of TAL VAT No. 00275-286/207/08/062/10, TAL VAT No. 00025/277/08/062/10 and for TAL Article 26 No. 00037/204/08/062/10.

Pada tanggal 14 April 2014 berdasarkan Putusan Pengadilan Pajak No. Put.51701/PP/M.IIA/15/2014 atas SKP PPh Badan Kurang Bayar No. 00043/206/08/062/10, permohonan banding diterima sebagian. Pada tanggal 28 Mei 2014 berdasarkan Putusan Pengadilan Pajak No. Put.52471/PP/M.IIA/10/2014 atas SKP PPh Pasal 21 Kurang Bayar No. 00127/201/08/062/10, permohonan banding diterima sebagian. Bank telah membayar seluruh kekurangan pembayaran pajak atas SKP PPh Badan No. 00043/206/08/062/10 dan SKP PPh Pasal 21 No.00127/201/08/062/10.

On April 14, 2014, based on the Decree of the Tax Court No. Put.51701/PP/M.IIA/15/2014 of TAL Corporate Income Tax Underpayment No. 00043/206/08/062/10, the appeal was partially accepted. On May 28, 2014 based on the Decree of the Tax Court No.Put.52471/PP/M.IIA/10/2014 of TAL Article 21 Underpayment No. 00127/201/08/062/10, the appeal was partially accepted. The Bank has paid all the underpayments of TAL Corporate Income Tax No. 00043/206/08/062/10 and for TAL Article 21 No.00127/201/08/062/10.

Sampai dengan tanggal 10 Februari 2017, Bank belum menerima putusan Pengadilan Pajak atas SKP PPh Pasal 4 ayat (2) No. 00072/204/08/062/10.

Up to February 10, 2017, the Bank has not yet received the decree of Tax Court for TAL Article 4 (2) No. 00072/204/08/062/10.

Pada tanggal-tanggal 31 Desember 2016 dan 2015, manajemen Bank telah membentuk cadangan atas kekurangan pembayaran pajak untuk tahun 2008 masing-masing sebesar Rp2.651.358 didasarkan pada estimasi terbaik dari manajemen (Catatan 21). Manajemen berkeyakinan bahwa cadangan yang dibentuk cukup memadai untuk menutupi risiko yang mungkin timbul atas SKP PPh Pasal 4 ayat (2) tersebut.

As of December 31, 2016 and 2015, the Bank’s management has set up provision for tax underpayment for fiscal year of 2008 amounting to Rp2,651,358, respectively based on best estimates from the management (Note 21). Management believes that the provision is adequate to cover the risks that may arise from the TAL Article 4 (2).

93

for

fiscal

year

2008








Pemeriksaan tahun pajak 2012

Assessment for fiscal year 2012

Pada tanggal 7 Januari 2015, Bank telah menerima beberapa Surat Ketetapan Pajak (SKP) tahun 2012 dengan rincian sebagai berikut:

On January 7, 2015, the Bank has received several Tax Assessment Letters (TAL) for fiscal year 2012 as follows:

Pokok/ Principal (Rp)

Denda/Bunga Penalty/Interest (Rp)

Tahun 2012 SKP PPh Pasal 4 ayat (2) No. 00012/240/12/218/15 No. 00011/240/12/218/15 No. 00010/240/12/218/15 No. 00009/240/12/218/15 No. 00008/240/12/218/15 No. 00007/240/12/218/15 No. 00006/240/12/218/15 No. 00005/240/12/218/15 No. 00004/240/12/218/15 No. 00003/240/12/218/15 No. 00002/240/12/218/15 No. 00001/240/12/218/15 Total

Year 2012 219.182 197.131 194.836 176.166 180.203 171.355 166.451 161.150 197.214 203.935 195.115 260.825

105.207 94.623 93.521 84.560 86.498 82.250 79.896 77.352 94.663 97.889 93.655 125.196

TAL Article 4 (2) No. 00012/240/12/218/15 No. 00011/240/12/218/15 No. 00010/240/12/218/15 No. 00009/240/12/218/15 No. 00008/240/12/218/15 No. 00007/240/12/218/15 No. 00006/240/12/218/15 No. 00005/240/12/218/15 No. 00004/240/12/218/15 No. 00003/240/12/218/15 No. 00002/240/12/218/15 No. 00001/240/12/218/15

2.323.563

1.115.310

Total

Pada tanggal 5 Februari 2015, Bank telah melakukan pembayaran sebesar Rp116.772 dan Bank tidak mengajukan surat keberatan atas sisa saldo dari seluruh SKP tersebut.

On February 5 2015, the Bank has made a payment amounted to Rp116,772 and Bank didn’t filed letters of tax objection on the remaining balance of all the TAL.

Pada tanggal 10 Agustus 2015, Bank telah menerima beberapa Surat Teguran atas SKP yang diterima sebesar Rp3.322.101.

On August 10, 2015, the Bank has received several Warning Letter (WL) regarding the TAL received, amounted to Rp3,322,101.

Pada tanggal 13 November 2015, Bank menyerahkan surat Pernyataan Pelunasan atas Hutang Pajak Bank No. B.785/SKKC/PKU/XI/2015 tanggal 4 November 2015 ke KPP Madya Pekanbaru yang menyatakan akan melunaskan hutang sebesar Rp3.322.101 dengan mencicil selama 56 bulan sebesar Rp60.000 per bulan.

On November 13, 2015, the Bank submit a Notification of Payment of Bank’s Taxes Payable No. B.785/SK-KC/PKU/XI/2015 dated November 4, 2015 to Pekanbaru Medium Tax Office that states will pay all the payables amounted to Rp3,322,101 with installments over 56 months for Rp60,000 per month.

Saat ini Bank sedang menunggu keputusan salah satu pihak Bank lain yang mengajukan banding ke Pengadilan Pajak atas kasus yang sama. Apabila hasil keputusan banding dimenangkan wajib pajak (Bank lain), maka akan menjadi dasar Bank untuk mengajukan pembatalan SKP tersebut.

Currently, the Bank is waiting for the decision of other Bank that filed an appeal to the Tax Court in the same case. If the result of the appeal verdict is favorable to the taxpayer (other banks), it will be the basis of Bank to apply cancellation of the TAL.

94




19. PERPAJAKAN (lanjutan) c.

19. TAXATION (continued) c.

Aset pajak tangguhan

Deferred tax assets The computation of deferred tax expense of the Bank are as follows:

Perhitungan beban pajak tangguhan Bank adalah sebagai berikut:

Tahun yang Berakhir pada Tanggal 31 Desember/for the Years Ended December 31 2016 Pembalikan cadangan kerugian aset produktif dan non produktif (Pemballikan) pembentukan cadangan litigasi Penyusutan aset tetap (Keuntungan) kerugian yang belum direalisasi dari nilai efek-efek yang diukur pada nilai wajar melalui laporan laba rugi Pembentukan (pembalikan) cadangan beban pegawai Total beban pajak tangguhan

2015

(2.243.119)

(2.544.922)

(207.656) (218.370)

501.814 (349.528)

(2.515.405) 2.585.848 (2.598.702)

Reversal of allowance for impairment losses on earning assets and non-earning assets (Reversal of) provision for litigation reserve Depreciation of premises and equipment

(541.892)

Unrealized (gain) loss on fair value through profit or loss securities Provision for (reversal of) employee expenses

(1.917.946)

Total deferred tax expense

1.016.582

The tax effects of significant temporary differences between commercial reporting and tax reporting (recorded under “Deferred Tax Assets”) are as follows:

Pengaruh pajak atas perbedaan temporer yang signifikan antara pelaporan komersial dan pajak (dicatat pada akun “Aset Pajak Tangguhan”) adalah sebagai berikut:


Cadangan kerugian aset produktif dan non produktif Cadangan litigasi Cadangan beban pegawai Penyusutan aset tetap Kerugian yang belum direalisasi dari nilai efek-efek yang diukur pada nilai wajar melalui laporan laba rugi Kerugian yang belum direalisasi dari efek-efek yang tersedia untuk dijual Pengukuran kembali program imbalan pasti Aset pajak tangguhan

54.474

Allowance for impairment losses on earning assets and non-earning assets Allowance for litigation liabilities Allowance for employee benefits Depreciation of premises and equipment

3.076.515

5.591.920

Unrealized loss on fair value through profit or loss securities

8.513.992

7.575.779

110.554

261.956

Unrealized loss on available-for-sale securities Remeasurement on defined benefit plan

20.445.671

22.257.562

Deferred tax assets

(6.378.036) 1.254.526 14.032.016 (163.896)

95

(4.134.917) 1.462.182 11.446.168


PT BANK RAKYAT INDONESIA AGRONIAGA Tbk CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam ribuan Rupiah, kecuali dinyatakan lain) 20. LIABILITAS KERJA

DIESTIMASI

ATAS


IMBALAN

20. ESTIMATED BENEFITS

LIABILITIES

FOR

EMPLOYEE


Pemutusan hubungan kerja Cuti besar

35.519.440 2.202.164

27.419.857 1.957.500

Work separation scheme Grand leaves

Total

37.721.604

29.377.357

Total

a)

a)

Pemutusan Hubungan Kerja (PHK)

Work Separation Scheme (PHK) The Bank’s management calculation which used the actuarial valuation assumptions on the Bank’s liability related to the allowance for work separation scheme (PHK) including severance, gratuity and compensation benefits is based on Labor Law No. 13 year 2003 (UU No. 13/2003) dated March 25, 2003 for liability as of December 31, 2016 and 2015, respectively. The above actuarial calculations were prepared by PT Bestama Aktuaria, an independent actuary, in its reports dated January 5, 2017 and 2016, respectively, by using the Projected Unit Credit Method with the following assumptions:

Perhitungan manajemen Bank yang menggunakan asumsi-asumsi penilaian aktuaria atas liabilitas Bank berkaitan dengan cadangan untuk biaya penyelesaian PHK yang meliputi penetapan uang pesangon, uang penghargaan tanda jasa dan ganti kerugian disusun berdasarkan Undang-undang Ketenagakerjaan No. 13 Tahun 2003 tanggal 25 Maret 2003 masing-masing pada tanggal 31 Desember 2016 dan 2015. Perhitungan aktuaria tersebut dilakukan oleh PT Bestama Aktuaria, aktuaris independen, dalam laporannya masing-masing tertanggal 5 Januari 2017 dan 2016 dengan menggunakan metode Projected Unit Credit serta mempertimbangkan asumsi-asumsi sebagai berikut:


Tingkat diskonto tahunan Tingkat kenaikan gaji tahunan di masa depan Tingkat kematian Tingkat cacat

8,3%

9,0%

Annual discount rate

8,0% TMI 2011 10,0% TMI 2011

8,0% TMI 2011 10,0% TMI 2011

Annual future salary’s growth rate Mortality rate Disability rate

Movements in the work separation scheme liability as of December 31, 2016 and 2015, respectively, are as follows:

Mutasi atas liabilitas pemutusan hubungan kerja masing-masing pada tanggal 31 Desember 2016 dan 2015 adalah sebagai berikut:


Saldo awal Beban yang diakui pada tahun berjalan (Catatan 26) Pengukuran kembali atas liabilitas PHK - neto Pembayaran manfaat aktual

27.419.857

25.643.741

10.245.404

4.815.288

(605.609) (1.540.212)

(755.775) (2.283.397)

Beginning balance Expense recognized in the current year (Note 26) Remeasurement on liabilities for PHK - net Actual benefit payments

Liabilitas PHK

35.519.440

27.419.857

Work separation scheme liability

96


PT BANK RAKYAT INDONESIA AGRONIAGA Tbk CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam ribuan Rupiah, kecuali dinyatakan lain) 20. LIABILITAS DIESTIMASI KERJA (lanjutan) a)

ATAS


IMBALAN

20. ESTIMATED LIABILITIES BENEFITS (continued) a)

Pemutusan Hubungan Kerja (PHK) (lanjutan)

FOR

EMPLOYEE

Work Separation Scheme (PHK) (continued) Remeasurement on liabilities for PHK - net as of December 31, 2016 and 2015, respectively, are as follows:

Pengukuran kembali atas liabilitas PHK - neto masing-masing pada tanggal 31 Desember 2016 dan 2015 adalah sebagai berikut:


Saldo awal Keuntungan aktuaria Pengukuran kembali atas liabilitas PHK - neto

1.047.824 (605.609)

1.803.599 (755.775)

442.215

1.047.824

Beginning balance Actuarial gain Remeasurement on liabilities for PHK – net

The calculation of PHK expense for the years period ended 31 December 2016 and 2015 based on actuarial calculation are as follows:

Perhitungan beban PHK untuk tahun yang berakhir pada tanggal-tanggal 31 Desember 2016 dan 2015 sesuai dengan perhitungan aktuaria adalah sebagai berikut:

Tahun yang Berakhir pada Tanggal 31 Desember/for the Years Ended December 31 2016 Biaya jasa kini Biaya bunga Biaya jasa lalu Beban PHK (Catatan 26)

2015

3.211.894 2.543.013 4.490.497

2.670.781 2.144.507 -

Current service cost Interest cost Past service cost

10.245.404

4.815.288

Work separation scheme expense (Note 26)

The movements in the present value of PHK liabilities are as follows:

Mutasi nilai kini liabilitas PHK adalah sebagai berikut:


Saldo awal Biaya jasa kini Biaya bunga Biaya jasa lalu Keuntungan aktuaria Pembayaran manfaat

27.419.857 3.211.894 2.543.013 4.490.497 (605.609) (1.540.212)

25.643.741 2.670.781 2.144.507 (755.775) (2.283.397)

Nilai kini liabilitas PHK

35.519.440

27.419.857

97

Beginning balance Current service cost Interest cost Past service cost Actuarial gain Benefit payment Present value of PHK liabilities


PT BANK RAKYAT INDONESIA AGRONIAGA Tbk CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam ribuan Rupiah, kecuali dinyatakan lain) 20. LIABILITAS DIESTIMASI KERJA (lanjutan) b)

ATAS


IMBALAN

20. ESTIMATED LIABILITIES BENEFITS (continued) b)

Cuti Besar

FOR

EMPLOYEE

Grand Leaves The actuarial calculation for grand leaves as of December 31, 2016 and 2015 was prepared by PT Bestama Aktuaria, an independent actuary, in its reports dated January 5, 2017 and 2016, respectively, by using the Projected Unit Credit Method with the following assumptions:

Perhitungan aktuaria atas cuti besar masingmasing pada tanggal 31 Desember 2016 dan 2015 dilakukan oleh PT Bestama Aktuaria, aktuaris independen, dalam laporannya masing-masing tertanggal 5 Januari 2017 dan 2016 dengan menggunakan metode Projected Unit Credit serta mempertimbangkan asumsiasumsi sebagai berikut:


Tingkat diskonto tahunan Tingkat kenaikan gaji tahunan di masa depan Tingkat kematian Tingkat cacat

7,5%

8,7%

Annual discount rate

8,0% TMI 2011 10,0% of TMI 2011

8,0% TMI 2011 10,0% TMI 2011

Annual future salary’s growth rate Mortality rate Disability rate

The movements of allowance for grand leaves as of December 31, 2016 and 2015, respectively, are as follows:

Mutasi untuk cadangan atas cuti besar masingmasing pada tanggal 31 Desember 2016 dan 2015 adalah sebagai berikut:


Saldo awal Beban yang diakui tahun berjalan (Catatan 26) Pembayaran manfaat

1.957.500

Liabilitas cuti besar

2.202.164

1.045.246 (800.582)

1.848.516 684.062 (575.078) 1.957.500

Beginning balance Expense recognized in the current year (Note 26) Benefit payments Grand leaves liability

Grand leaves expense for the years ended December 31, 2016 and 2015 based on actuarial calculation are as follows:

Beban cuti besar untuk tahun yang berakhir pada tanggal-tanggal 31 Desember 2016 dan 2015 berdasarkan perhitungan aktuaria adalah sebagai berikut:

Tahun yang Berakhir pada Tanggal 31 Desember/for the Years Ended December 31 2016

2015

Biaya jasa kini Beban bunga Kerugian (keuntungan) aktuaria

843.387 172.164 29.695

Beban cuti besar (Catatan 26)

1.045.246

98

695.952 152.716 (164.606) 684.062

Current service cost Interest expense Actuarial loss (gains) Grand leaves expense (Note 26)


PT BANK RAKYAT INDONESIA AGRONIAGA Tbk CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam ribuan Rupiah, kecuali dinyatakan lain) 20. LIABILITAS DIESTIMASI KERJA (lanjutan) c)

ATAS


IMBALAN

20. ESTIMATED LIABILITIES BENEFITS (continued) c)

Masa Persiapan Pensiun (MPP)

FOR

EMPLOYEE

Pension Preparation Period (MPP)

Berdasarkan Surat Keputusan No. Kpts.B.15/Dir.02.04/MSDM/XII/2015 tanggal 17 Desember 2015, Direksi Bank memutuskan untuk mencabut dan menghapus Masa Persiapan Pensiun yang berlaku efektif sejak tanggal 15 Desember 2015.

Based on Decree No. Kpts.B.15/Dir.02.04/ MSDM/XII/2015 dated December 17, 2015, the Bank’s Board of Directors decided to revoke and terminate the pension preparation period which became effective on December 15, 2015.

Perhitungan aktuaria atas Masa Persiapan Pensiun (MPP) pada tanggal 31 Desember 2015 dilakukan oleh PT Bestama Aktuaria, aktuaris independen, dalam laporannya tertanggal 5 Januari 2016 dengan menggunakan metode Projected Unit Credit.

The actuarial calculation for Pension Preparation Period (MPP) as of December 31, 2015 was prepared by PT Bestama Aktuaria, an independent actuary, in its reports dated January 5, 2016 by using the Projected Unit Credit Method.

Mutasi untuk cadangan atas MPP pada tanggal 31 Desember 2015 adalah sebagai berikut:

The movements of allowance for MPP as of December 31, 2015 is as follows:


Saldo awal Keuntungan yang diakui pada tahun berjalan Pengukuran kembali atas liabilitas MPP - neto Pembayaran manfaat

7.446.141 (11.877.217) 4.450.092 (19.016)

Liabilitas MPP

-

Beginning balance Gain recognized in the current year Remeasurement on liabilities for MPP - net Benefit payment MPP liability

Remeasurement on liabilities for MPP - net as of December 31, 2015 is as follows:

Pengukuran kembali atas liabilitas MPP - neto pada tanggal 31 Desember 2015 adalah sebagai berikut: 31 Desember/ December 31, 2015

Saldo awal Keuntungan aktuaria

(4.450.092) 4.450.092

Pengukuran kembali atas liabilitas MPP - neto

-

99

Beginning balance Actuarial gain Remeasurement on liabilities for MPP - net


PT BANK RAKYAT INDONESIA AGRONIAGA Tbk CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam ribuan Rupiah, kecuali dinyatakan lain) 20. LIABILITAS DIESTIMASI KERJA (lanjutan) c)

ATAS


IMBALAN

20. ESTIMATED LIABILITIES BENEFITS (continued) c)

Masa Persiapan Pensiun (MPP) (lanjutan)

Pension Preparation (continued)

FOR

EMPLOYEE

Period

(MPP)

MPP expense for the year ended December 31, 2015 based on actuarial calculation are as follows:

Beban MPP untuk tahun yang berakhir pada tanggal 31 Desember 2015 berdasarkan perhitungan aktuaria adalah sebagai berikut: Tahun yang berakhir pada tanggal 31 Desember/ for the Year Ended December 31, 2015

Biaya jasa kini Beban bunga Keuntungan aktuaria atas penyelesaian

803.396 642.743 (13.323.356)

Current service cost Interest expense Actuarial gain on settlement

Pendapatan MPP

(11.877.217)

MPP revenue

21. LIABILITAS LAIN-LAIN

21. OTHER LIABILITIES 31 Desember/December 31, 2016 Jumlah nosional mata uang asing/ Notional amount foreign currency (Angka penuh/ Full amount)

Pihak ketiga Rupiah Bunga yang masih harus dibayar Cadangan liabilitas litigasi (Catatan 35) Cadangan hasil pemeriksaan pajak (Catatan 19) Bonus dan insentif Pendapatan diterima dimuka Setoran jaminan Lain-lain

Dolar Amerika Serikat Bunga yang masih harus dibayar Total

2.084




32.785.682

26.395.895

6.820.638

7.651.265

2.651.358 22.268.932 576.150 53.300 3.082.199

2.651.358 20.875.398 576.150 55.300 1.081.731

68.238.259

59.287.097

28.078 68.266.337

100

11.773

Third parties Rupiah Interest payables Provision for litigation liabilities (Note 35) Provision for result of tax examination (Note 19) Bonuses and incentives Unearned income Guarantee deposits Others

162.300

United States Dollar Interest payables

59.449.397

Total




22. EKUITAS

22. EQUITY

Modal saham

Share capital

Rincian pemegang saham dan kepemilikannya pada tanggal-tanggal 31 Desember 2016 dan 2015 adalah sebagai berikut:

The details of the shareholders and their ownerships as of December 31, 2016 and 2015, are as follows:


Pemegang Saham PT Bank Rakyat Indonesia (Persero) Tbk Dana Pensiun Perkebunan Masyarakat (masing-masing dibawah 5%) Total

Total lembar saham ditempatkan dan disetor penuh/ Number of shares issued and fully paid

Persentase kepemilikan/ Percentage of ownership

Total

Shareholders

13.368.237.838 1.085.538.218

87,23% 7,08%

1.336.823.784 108.553.822

PT Bank Rakyat Indonesia (Persero) Tbk Dana Pensiun Perkebunan

871.935.764

5,69%

87.193.576

Public (each below 5%)

15.325.711.820

100,00%

1.532.571.182

Total


Pemegang Saham PT Bank Rakyat Indonesia (Persero) Tbk Dana Pensiun Perkebunan Masyarakat (masing-masing dibawah 5%) Total

Total lembar saham ditempatkan dan disetor penuh/ Number of shares issued and fully paid

Persentase kepemilikan/ Percentage of ownership

Total

Shareholders

10.013.470.929 1.044.978.364

87,23% 9,10%

1.001.347.093 104.497.836

PT Bank Rakyat Indonesia (Persero) Tbk Dana Pensiun Perkebunan

421.266.405

3,67%

42.126.641

Public (each below 5%)

11.479.715.698

100,00%

1.147.971.570

Total

Berdasarkan Akta Pernyataan Keputusan Rapat No. 58 tanggal 27 Desember 2016, yang dibuat dihadapan M. Nova Faisal, S.H., M.Kn, notaris di Jakarta, mengenai peningkatan modal ditempatkan dan disetor penuh yang berasal dari Penawaran Umum Terbatas (PUT) VI sebanyak 3.845.996.122 lembar saham, sehingga jumlah modal ditempatkan dan disetor Bank menjadi 15.325.711.820 saham dengan total sebesar Rp1.532.571.182.000 (Rupiah penuh) (Catatan 1c).

Based on Notarial Deed of Decision Meeting Statement No. 58 dated December 27, 2016 in the presence of M. Nova Faisal, S.H., M.Kn, a notary in Jakarta, regarding the issuance of issued and fully paid capital from the Limited Right Issue (PUT) VI of 3,845,996,122 shares, thereby increasing issued and fully paid capital of the Bank to 15,325,711,820 shares amounted to Rp1,532,571,182,000 (full Rupiah) (Note 1c).

Berdasarkan Akta Pernyataan Keputusan Rapat dan Perubahan Anggaran Dasar No. 68 tanggal 14 Juli 2015, yang dibuat dihadapan M. Nova Faisal, S.H., M.Kn, notaris di Jakarta, mengenai peningkatan modal ditempatkan dan disetor penuh yang berasal dari Penawaran Umum Terbatas (PUT) V sebanyak 4.028.934.521 lembar saham, sehingga jumlah modal ditempatkan dan disetor Bank menjadi 11.479.715.698 saham dengan total sebesar Rp1.147.971.569.800 (Rupiah penuh) (Catatan 1c).

Based on Notarial Deed of Decision Meeting Statement No. 68 dated July 14, 2015 in the presence of M. Nova Faisal, S.H., M.Kn, a notary in Jakarta, regarding the issuance of issued and fully paid capital from the Limited Right Issue (PUT) V of 4,028,934,521 shares, thereby increasing issued and fully paid capital of the Bank to 11,479,715,698 shares amounted to Rp1,147,971,569,800 (full Rupiah) (Note 1c).

101




22. EKUITAS (lanjutan)

22. EQUITY (continued)

Modal saham (lanjutan)

Share capital (continued)

Peningkatan modal ditempatkan dan disetor penuh yang berasal dari Penawaran Umum Terbatas (PUT) VI dan V tersebut digunakan seluruhnya untuk ekspansi kredit Bank.

The increase in issued and fully paid capital from the Limited Right Issue (PUT) VI and V is used for the Bank’s credit expansion.

Tambahan modal disetor


Perubahan tambahan modal disetor untuk tahun yang berakhir pada tanggal 31 Desember 2016 berasal dari agio saham dan biaya emisi saham pada saat Penawaran Umum Terbatas (PUT) VI. Sedangkan perubahan tambahan modal disetor untuk tahun yang berakhir pada tanggal 31 Desember 2015 berasal dari biaya emisi saham pada saat PUT V. Perubahan tambahan modal disetor pada tanggal-tanggal 31 Desember 2016 dan 2015 adalah sebagai berikut:

The movements of additional paid-in capital for the year ended December 31, 2016, resulting from the additional paid-in capital and shares issuance cost in Limited Right Issue (PUT) VI. The movements of additional paid-in capital for the year ended December 31, 2015, resulting from the shares issuance cost in PUT V. The movements of additional paid-in capital as of December 31, 2016 and 2015, are as follows:


Saldo awal Agio saham Biaya emisi saham

75.915.828 115.379.884 (1.167.680)

77.116.982 (1.201.154)

Saldo akhir

190.128.032

75.915.828

Cadangan

Reserves

1)

1)

Cadangan Khusus

Ending balance

Specific Reserve Represent reserves provided for employees' social security, in compliance with the decision of Shareholders' Annual General Meeting held on May 19, 1992.

Merupakan cadangan yang bertujuan untuk jaminan sosial pegawai yang dibentuk sesuai dengan Keputusan Rapat Umum Tahunan Pemegang Saham tanggal 19 Mei 1992. 2)

Beginning balance Additional paid-in capital Shares issuance cost

2)

Cadangan Umum dan Wajib

General and Legal Reserve The general and legal reserves are originally provided in accordance with Law No. 1/1995 article 61 (1) on Limited Liability Company (later superseded by Limited Liability Company Law No. 40/2007), which requires Indonesian companies to set up a general and legal reserve amounting to at least 20% of the issued and paid-in capital. This particular law does not regulate the period of time in relation to the provision of such reserves.

Cadangan umum dan wajib pada awalnya dibentuk dalam rangka memenuhi ketentuan Pasal 61 ayat (1) Undang-undang No. 1/1995 mengenai Perseroan Terbatas (kemudian diganti dengan Undang-undang Perseroan Terbatas No. 40/2007), yang mengharuskan perusahaan Indonesia untuk membuat penyisihan cadangan umum dan wajib sebesar sekurang-kurangnya 20% dari jumlah modal yang ditempatkan dan disetor penuh. Undangundang tersebut tidak mengatur jangka waktu untuk pembentukan penyisihan tersebut.

102




22. EKUITAS (lanjutan)

22. EQUITY (continued)

Pembagian Laba

Distribution of Net Income

Dalam RUPS Tahunan BRI Agro tanggal 20 April 2016 dan 25 Maret 2015, pemegang saham menyetujui pembagian laba neto dan alokasi atas saldo laba untuk tahun yang berakhir pada tanggaltanggal 31 Desember 2015 dan 2014 dengan penggunaan sebagai berikut:

Based on the Annual General Shareholders’ Meetings of BRI Agro held on April 20, 2016 and March 25, 2015, the Shareholders agreed to distribute the net income and the allocation of retained earnings for the year ended December 31, 2015 and 2014 as follows:

Laba/ Income 2015 Dividen Cadangan umum

2014

15.615.422 2.414.757

23. PENDAPATAN BUNGA

6.076.112 1.240.022

Dividends General reserves

23. INTEREST INCOME Tahun yang Berakhir pada Tanggal 31 Desember/for the Years Ended December 31 2016

Rupiah Kredit yang diberikan Menengah Ritel Konsumer Kemitraan Efek-efek Diukur pada nilai wajar melalui laporan laba rugi Obligasi Pemerintah Reksadana Medium Term Notes Tersedia untuk dijual Obligasi Pemerintah Reksadana Obligasi Medium Term Notes Dimiliki Hingga Jatuh Tempo Medium Term Notes Negotiable Certificate Deposit Obligasi Obligasi Pemerintah Penempatan pada Bank Indonesia dan bank lain Deposit facility Inter-bank call money Giro pada Bank Indonesia dan bank lain

2015

562.494.563 211.555.718 114.534.296 -

429.307.691 164.477.726 129.036.340

Rupiah Loans Middle Retail Consumer Linkage Securities

3.713.154 3.389.700 372.059

10.982.534 3.390.022 474.610

30.393.330 3.672.175 74.486 -

13.502.152 3.675.753 979.419

1.787.480 1.076.087 207.833 -

3.407.089 2.073.714 1.172.185

Fair value through profit or loss Government bonds Mutual funds Medium Term Notes Available-for-sale Government bonds Mutual funds Bond Medium Term Notes Held to maturity Medium Term Notes Negotiable Certificate Deposit Bond Government bonds

11.614.906 11.179.840

8.214.905 4.050.523

Placements with Bank Indonesia and other banks Deposit facility Inter-bank call money

2.212.644

2.600.651

Current accounts with Bank Indonesia and other banks

958.278.271

777.345.314

103




23. PENDAPATAN BUNGA (lanjutan)

23. INTEREST INCOME (continued) Tahun yang Berakhir pada Tanggal 31 Desember/for the Years Ended December 31 2016

Dolar Amerika Serikat Kredit yang diberikan Menengah Efek-efek Diukur pada nilai wajar melalui laporan laba rugi Obligasi Pemerintah Tersedia untuk dijual Obligasi Pemerintah Obligasi

5.825.843

United States Dollar Loans Middle

7.781.913

Securities

-

153.390

313.866 658.797

641.492 765.977

Penempatan pada Bank Indonesia dan bank lain Inter-bank call money

Fair value through profit or loss Government bonds Available-for-sale Government bonds Bonds

-

11.288

Placements with Bank Indonesia and other banks Inter-bank call money

8.483

10.188

Current accounts with Bank Indonesia and other banks

6.806.989

9.364.248

965.085.260

786.709.562

Giro pada Bank Indonesia dan bank lain

Total

2015

24. BEBAN BUNGA

Total

24. INTEREST EXPENSE Tahun yang Berakhir pada Tanggal 31 Desember/for the Years Ended December 31

Rupiah Deposito Tabungan Simpanan dari bank lain Giro

Dolar Amerika Serikat Deposito Simpanan dari bank lain Giro

Total

2016

2015

516.721.212 13.123.043 7.129.854 4.881.626

391.579.781 8.859.002 23.302.398 4.162.343

541.855.735

427.903.524

1.399.978 119.158 38.253

2.856.995 120.619 57.291

1.557.389

3.034.905

543.413.124

430.938.429

104

Rupiah Time deposits Saving deposits Deposits from other banks Demand deposits

United States Dollar Time deposits Deposits from other banks Demand deposits

Total




25. PENYISIHAN KERUGIAN PENURUNAN NILAI

25. PROVISION FOR IMPAIRMENT LOSSES This account represents allowance for impairment losses on financial assets (Note 2d) and nonfinancial assets (Note 2l) as follows:

Akun ini merupakan cadangan kerugian penurunan nilai atas aset keuangan (Catatan 2d) dan aset non-keuangan (Catatan 2l) sebagai berikut:

Tahun yang Berakhir pada Tanggal 31 Desember/for the Years Ended December 31 2016 Aset Keuangan Kredit yang diberikan (Catatan 8f) Aset Non-Keuangan Agunan yang diambil alih (Catatan 12) Total

2015

135.215.831

(25.209) 135.190.622

26. BEBAN GAJI DAN TUNJANGAN

104.070.544

Financial Assets Loans (Note 8f)

40.100

Non-Financial Assets Foreclosed collaterals (Note 12)

104.110.644

Total

26. SALARIES AND ALLOWANCES Tahun yang Berakhir pada Tanggal 31 Desember/for the Years Ended December 31

Gaji Tunjangan Bonus dan insentif Outsourcing Imbalan kerja (Catatan 20) Asuransi pegawai Pendidikan dan pelatihan Makanan dan minuman Program kepemilikan mobil Pengobatan Lembur Dana pensiun (Catatan 38c) Penerimaan karyawan Lain-lain Total

2016

2015

45.136.979 23.688.107 22.404.358 12.940.557 11.290.650 7.846.880 4.626.368 4.242.944 3.170.672 3.140.864 1.704.766 695.844 173.729 1.104.192

39.979.320 17.223.979 22.734.615 12.571.857 5.499.350 5.131.185 5.395.380 5.593.391 2.496.422 2.346.195 1.502.515 652.878 349.121 892.202

Salaries Other allowance Bonuses and incentives Outsourcing Employee benefits (Note 20) Employee insurance Education and training Food and beverages Car ownership program Medical Overtime Pension fund (Note 38c) Employees recruitment Others

142.166.910

122.368.410

Total

Jumlah gaji dan tunjangan untuk Dewan Komisaris masing-masing adalah sebesar Rp2.565.000 dan Rp2.169.990, Direksi adalah sebesar Rp6.844.000 dan Rp5.236.800 dan karyawan kunci adalah sebesar Rp8.635.960 dan Rp7.604.342 masingmasing untuk tahun yang berakhir pada tanggaltanggal 31 Desember 2016 dan 2015 (Catatan 30).

Total salaries and allowances for the Board of Commissioners amounted to Rp2,565,000 and Rp2,169,990 for Directors amounted to Rp6,844,000 and Rp5,236,800 and for key employees amounted to Rp8,635,960 and Rp7,604,342 for the years ended December 31, 2016 and 2015, respectively (Note 30).

Jumlah tantiem untuk Dewan Komisaris dan Direksi yang dibayarkan adalah sebesar Rp4.492.463 dan Rp5.635.316, serta jumlah bonus dan insentif untuk karyawan kunci adalah sebesar Rp2.101.774 dan Rp1.619.895 masing-masing untuk tahun yang berakhir pada tanggal 31 Desember 2016 dan 2015 (Catatan 30).

Total tantiem for the Board of Commissioners and Directors amounted to Rp4,492,463 and Rp5,635,316, while total bonus and incentives for key employees amounted to Rp2,101,774 and Rp1,619,895 for the years ended December 31, 2016 and 2015, respectively (Note 30).

105




27. BEBAN UMUM DAN ADMINISTRASI

27. GENERAL AND ADMINISTRATIVE EXPENSES Tahun yang Berakhir pada Tanggal 31 Desember/for the Years Ended December 31 2016

2015

Premi Lembaga Penjamin Simpanan Penyusutan (Catatan 11) Sewa gedung Iklan dan promosi Biaya pungutan OJK Honorarium tenaga ahli Perjalanan dinas Biaya cadangan perkara Transportasi dan pengiriman Kontrak service Keperluan kantor dan rapat Pemeliharaan dan perbaikan Listrik, air dan gas Telepon dan faksimili Transaksi ATM Bersama Alat tulis dan fotokopi Kegiatan pegawai Jasa layanan gedung kantor Asuransi Barang cetakan Representasi Pajak dan perijinan Pengembangan sistem Penyelesaian kredit Transaksi ATM BRI Lain-lain

14.316.628 12.223.039 8.751.375 5.018.817 4.654.716 4.186.101 3.531.390 3.036.887 2.999.652 2.577.571 2.421.696 2.408.324 2.070.929 1.640.939 1.393.800 1.136.988 1.271.040 987.764 930.218 863.241 650.361 630.595 532.936 184.153 100.000 2.803.587

11.257.625 7.733.197 13.730.428 4.241.086 3.207.874 3.632.747 3.431.759 2.017.147 3.034.405 4.144.074 2.198.743 1.706.584 2.380.200 1.879.952 2.671.680 1.061.283 640.723 2.988.415 815.288 913.245 1.054.880 402.118 1.304.273 336.916 603.647 4.218.422

Premium for Deposit Insurance Corporation Depreciation (Note 11) Building rent Advertisement and promotion OJK fee Professional fees Official travels Provision for litigation liabilities Transportation and delivery Service contracts Office and meeting supplies Repair and maintenance Electricity, water and gas Telephone and fascimile ATM Bersama transactions Photocopies and stationeries Employees events Office building service charge Insurance Printed materials Representation Taxes and licenses System development Loans settlement ATM BRI transactions Others

Total

81.322.747

81.606.711

Total

28. PENDAPATAN NON OPERASIONAL – NETO

28. NON-OPERATING INCOME – NET

Tahun yang Berakhir pada Tanggal 31 Desember/for the Years Ended December 31 2016 Pendapatan sewa Laba penjualan aset tetap (Catatan 11) Laba penjualan AYDA (Catatan 12) Denda Keuntungan atas penghapusan program imbalan kerja (Masa Persiapan Pensiun) Lain-lain - neto Total

2015

2.843.565

-

9.188.256

11.877.217 3.309.852

Rent revenue Gain on sale of premises and equipment (Note 11) Gain on sale of foreclosed collaterals (Note 12) Penalties Gain from the termination of employee benefits program (Pension Preparation Period) Others - net

472.560

174.015

322.426 (68.118)

(259.950)

12.758.689

15.101.134

Total

106




29. LABA PER SAHAM

29. EARNINGS PER SHARE The computation of earnings per share as of December 31, 2016 and 2015 are as follows:

Perhitungan laba per saham pada tanggal-tanggal 31 Desember 2016 dan 2015 adalah sebagai berikut:

Tahun yang Berakhir pada Tanggal 31 Desember/for the Years Ended December 31 2016

2015

103.003.152

80.491.880

11.584.797.559

9.465.248.438

297.904.849

-

Weighted average number of shares oustanding Add: Shares to be issued it warrants excercise

11.882.702.408

9.465.248.438

Diluted

Laba bersih per saham dasar (Rupiah penuh)

8,89

8,50

Basic earnings per share(full Rupiah)

Laba bersih per saham dilusian (Rupiah penuh)

8,67

8,50

Diluted earnings per share (full Rupiah)

Laba tahun berjalan Jumlah rata-rata tertimbang saham biasa yang beredar Ditambah: Saham yang akan diterbitkan Jika waran dieksekusi Dilusian

30. TRANSAKSI PIHAK-PIHAK BERELASI

Income for the year

30. TRANSACTIONS WITH RELATED PARTIES

Dalam kegiatan normal usaha, Bank melakukan transaksi dengan pihak berelasi karena hubungan kepemilikan dan/atau kepengurusan.

In the normal course of business, the Bank engages in transactions with related parties due to the relationship of ownership and/or management.

Saldo dan transaksi dengan pihak-pihak berelasi adalah sebagai berikut:

The amounts and transactions with related parties are as follows:

Pihak-pihak berelasi/ Related parties

Jenis hubungan/ Types of Relationship

Unsur transaksi pihak berelasi/ Element of transactions


Entitas Induk/ Parent

Giro pada bank lain, efek-efek, garansi bank yang diterbitkan/Current accounts with other banks, securities, guarantees issued

PT Bank BRISyariah

Hubungan pengendalian melalui entitas induk/Control relationship through parent

Penempatan pada Bank Indonesia dan bank lain/Placements with Bank Indonesia and other banks

PT Bringin Srikandi Finance


Kredit yang diberikan/Loans

PT Bringin Gigantara



Koperasi Swakarya BRI



107




30. TRANSAKSI PIHAK-PIHAK BERELASI (lanjutan)

30. TRANSACTIONS (continued)

WITH

RELATED

PARTIES

The amounts and transactions with related parties are as follows (continued):

Saldo dan transaksi dengan pihak-pihak berelasi adalah sebagai berikut (lanjutan): Pihak-pihak berelasi/ Related parties



Pemerintah Republik Indonesia (RI)/ Government of the Republic of Indonesia (RI)

Kepemilikan saham mayoritas melalui Kementerian Keuangan RI/Ownership of majority shares through the Ministry of Finance of the Republic of Indonesia

Efek-efek/Securities

PT Bank Mandiri (Persero) Tbk

Hubungan pengendalian melalui Pemerintah Pusat RI/Control relationship through the Central Government of the Republic of Indonesia

Giro pada bank lain/Current accounts with other banks

PT Bank Syariah Mandiri



PT Mandiri Manajemen Investasi



PT Bank Negara Indonesia (Persero) Tbk


Giro pada bank lain, penempatan pada Bank Indonesia dan bank lain /Current accounts with other banks, placements with Bank Indonesia and other banks

PT BNI Asset Management



PT Bank Tabungan Negara (Persero) Tbk



Lembaga Pembiayaan Ekspor Indonesia


Penempatan pada Bank Indonesia dan bank lain/Placements with Bank Indonesia and other Bank

PT Perusahaan Listrik Negara (Persero)


108







RELATED

PARTIES

The amounts and transactions with related parties are as follows (continued):

Saldo dan transaksi dengan pihak-pihak berelasi adalah sebagai berikut (lanjutan): Pihak-pihak berelasi/ Related parties

WITH



Perum Perhutani



PT Perkebunan Nusantara II


Efek-efek, kredit yang diberikan/Securities, loans

PT Perkebunan Nusantara VII, XI, XIII dan/and XIV



PT Laras Astra Kartika



PT Perkebunan Mitra Ogan


Kredit yang diberikan, L/C yang tidak dapat dibatalkan yang masih berjalan dalam rangka impor /Loans, irrevocable letters of credit

PT Mega Eltra



PT Asuransi Jasa Tania Tbk

Hubungan pengendalian melalui Dana Pensiun Perkebunan/Control relationship through Dana Pensiun Perkebunan

Garansi bank yang diterbitkan/ Guarantees issued

Karyawan Kunci/ Key employees

Hubungan pengendalian kegiatan Bank/Control relationship on Bank’s activities

Tabungan, deposito berjangka/ Saving deposits, time deposits

109






WITH

RELATED

PARTIES

In normal banking activities, the Bank engages in significant transactions with the following related parties:

Dalam kegiatan normal perbankan, Bank melakukan transaksi signifikan dengan pihak-pihak berelasi sebagai berikut:


Aset Giro pada bank lain (Catatan 5) PT Bank Rakyat Indonesia (Persero) Tbk PT Bank Mandiri (Persero) Tbk PT Bank Negara Indonesia (Persero) Tbk

Penempatan pada Bank Indonesia dan bank lain (Catatan 6) PT Bank Negara Indonesia (Persero) Tbk Lembaga Pembiayaan Ekspor Indonesia PT Bank BRISyariah

11.005.933 1.704.781

25.545.221 2.507.098

463.955

63.390.454

13.174.669

91.442.773

200.000.000

-

-

150.000.000 35.000.000

200.000.000

185.000.000

Efek-efek (Catatan 7) Pemerintah RI PT BNI Asset Management PT Mandiri Manajemen Investasi PT Bank Rakyat Indonesia (Persero) Tbk PT Perusahaan Listrik Negara (Persero) PT Bank Syariah Mandiri PT Bank Tabungan Negara (Persero) Tbk PT Perkebunan Nusantara II

Kredit Yang Diberikan (Catatan 8) PT Perkebunan Nusantara XIII Perum Perhutani PT Perkebunan Nusantara VII PT Perkebunan Nusantara II PT Perkebunan Mitra Ogan PT Laras Astra Kartika PT Perkebunan Nusantara XIV PT Bringin Srikandi Finance PT Bringin Gigantara Koperasi Swakarya BRI PT Perkebunan Nusantara XI PT Mega Eltra Lain-lain

585.404.398 50.105.602 50.016.759

439.960.347 50.312.367 25.163.427

14.196.710

9.950.821

11.955.497 -

10.889.323 56.197.500

-

18.973.092 15.000.000

711.678.966

626.446.877

142.941.171 89.550.000 49.955.669 48.027.906 29.190.607 25.241.003 17.550.865 4.642.544 2.270.000 468.498 1.236.372

101.509.561 47.707.926 22.970.784 29.235.697 18.375.715 14.667.236 647.400 2.334.496 31.557.377 24.696.434 1.736.627

411.074.635

295.439.253

110

Assets Current accounts with other banks (Note 5) PT Bank Rakyat Indonesia (Persero) Tbk PT Bank Mandiri (Persero) Tbk PT Bank Negara Indonesia (Persero) Tbk

Placements with Bank Indonesia and other banks (Note 6) PT Bank Negara Indonesia (Persero) Tbk Lembaga Pembiayaan Ekspor Indonesia PT Bank BRISyariah

Securities (Note 7) Government of the Republic of Indonesia PT BNI Asset Management PT Mandiri Manajemen Investasi PT Bank Rakyat Indonesia (Persero) Tbk PT Perusahaan Listrik Negara (Persero) PT Bank Syariah Mandiri PT Bank Tabungan Negara (Persero) Tbk PT Perkebunan Nusantara II

Loans (Note 8) PT Perkebunan Nusantara XIII Perum Perhutani PT Perkebunan Nusantara VII PT Perkebunan Nusantara II PT Perkebunan Mitra Ogan PT Laras Astra Kartika PT Perkebunan Nusantara XIV PT Bringin Srikandi Finance PT Bringin Gigantara Koperasi Swakarya BRI PT Perkebunan Nusantara XI PT Mega Eltra Others






WITH

RELATED

PARTIES

In normal banking activities, the Bank engages in significant transactions with the following related parties (continued):

Dalam kegiatan normal perbankan, Bank melakukan transaksi signifikan dengan pihak-pihak berelasi sebagai berikut (lanjutan):


Total aset dari pihak-pihak berelasi Total aset Persentase total aset dari pihak-pihak berelasi terhadap total aset

Liabilitas Giro (Catatan 15) Entitas dan lembaga Pemerintah Lain-lain

Tabungan (Catatan 16) Karyawan kunci Entitas dan lembaga Pemerintah

Deposito berjangka (Catatan 17) Entitas dan lembaga Pemerintah Karyawan kunci Lain-lain

Kompensasi kepada karyawan kunci (Catatan 20) Nilai kini liabilitas pemutusan hubungan kerja Nilai kini liabilitas cuti besar

1.335.928.270

1.198.328.903

Total assets from related parties

11.377.960.721

8.364.502.563

Total assets

11,74%

14,33%

Percentage of total assets from related parties to total assets

111.400.177 3.910.664

82.217.964 19.115.250

Liabilities Demand deposits (Note 15) Government entities and institutions Others

115.310.841

101.333.214

5.698.173

2.414.989

451.381

3.584.978

6.149.554

5.999.967

1.424.392.712 4.844.252 636.929.904

139.170.600 6.498.679 135.370.000

2.066.166.868

281.039.279

4.741.487

4.826.158

250.052

213.190

4.991.539

5.039.348

Saving deposits (Note 16) Key employees Government entities and institutions

Time deposits (Note 17) Government entities and institutions Key employees Others

Compensation to key employees (Note 20) Present value of work separation scheme liability Present value of grand leaves liability

Total liabilitas kepada pihakpihak berelasi

2.192.618.802

393.411.808

Total liabilities to related parties

Total liabilitas

9.441.709.181

7.012.090.138

Total liabilities

23,22%

5,61%

Percentage of total liabilities from related parties to total liabilities

Persentase total liabilitas dari pihak-pihak berelasi terhadap total liabilitas

111






WITH

RELATED

PARTIES

In normal banking activities, the Bank engages in significant transactions with the following related parties (continued):

Dalam kegiatan normal perbankan, Bank melakukan transaksi signifikan dengan pihak-pihak berelasi sebagai berikut (lanjutan):


Komitmen dan kontinjensi pada rekening administratif L/C yang tidak dapat dibatalkan yang masih berjalan dalam rangka impor (Catatan 33) PT Perkebunan Mitra Ogan Garansi bank yang diterbitkan (Catatan 33) PT Bank Rakyat Indonesia (Persero) Tbk PT Asuransi Jasa Tania Tbk

Total komitmen dan kontinjensi pada rekening administratif dari pihak-pihak berelasi

Commitments and contingencies in administrative accounts

5.895.750

Irrevocable letters of credit (Note 33) PT Perkebunan Mitra Ogan

40.036 246.505

40.036 -

Guarantees issued (Note 33) PT Bank Rakyat Indonesia (Persero) Tbk PT Asuransi Jasa Tania Tbk

286.541

40.036

-

286.541

5.935.786

Total commitments and contingencies in administrative accounts from related parties

Tahun yang Berakhir pada Tanggal 31 Desember/for the Years Ended December 31 2016 Gaji dan tunjangan Dewan Komisaris, Direksi dan karyawan kunci (Catatan 26) Dewan Komisaris Direksi Karyawan kunci

Tantiem, bonus dan insentif Dewan Komisaris, Direksi dan karyawan kunci (Catatan 26) Tantiem Dewan Komisaris Tantiem Direksi Bonus dan insentif karyawan kunci

2015

2.565.000 6.844.000 8.635.960

2.169.990 5.236.800 7.604.342

18.044.960

15.011.132

1.225.063 3.267.400 2.101.774

1.541.337 4.093.979 1.619.895

6.594.237

7.255.211

112

Salaries and allowances of Boards of Commissioners, Directors and key employees (Note 26) Boards of Commissioners Directors Key employees

Tantiem, bonus and incentives of Board of Commissioners, Directors and key employees (Note 26) Tantiem of Board of Commissioner Tantiem of Directors Bonus and incentives of key employees






WITH

RELATED

PARTIES

Percentage of transactions with related parties to total assets and total liabilities of the Bank are as follows:

Persentase transaksi dengan pihak-pihak berelasi terhadap total aset dan total liabilitas Bank adalah sebagai berikut:


Aset Giro pada bank lain Penempatan pada Bank Indonesia dan bank lain Efek-efek Kredit yang diberikan

Liabilitas Giro Tabungan Deposito berjangka Kompensasi kepada karyawan kunci

0,12%

1,10%

1,76% 6,25% 3,61%

2,21% 7,49% 3,53%

11,74%

14,33%

1,22% 0,07% 21,88% 0,05%

1,45% 0,09% 4,00% 0,07%

23,22%

5,61%

Assets Current accounts with other banks Placements with Bank Indonesia and other banks Securities Loans

Liabilities Demand deposits Saving deposits Time deposits Compensation to key employees

As of December 31, 2016 and 2015, the Bank has insured its premises and equipment to PT Asuransi Jasa Tania and PT Asuransi Bringin Sejahtera Artamakmur (Note 11).

Pada tanggal-tanggal 31 Desember 2016 dan 2015, Bank telah mengasuransikan aset tetap kepada PT Asuransi Jasa Tania dan PT Asuransi Bringin Sejahtera Artamakmur (Catatan 11).

31. MANAJEMEN RISIKO

31. RISK MANAGEMENT The increasing need for sound and integrated Bank management (Good Corporate Governance) requires the implementation of integrated and comprehensive risk management. In order to achieve risk management that supports the achievement of performance target and ability to maintain business continuity, proactive risk management strategy which can increase the effectiveness of capital expenditures and return on equity (ROE) is needed in order to provide additional value to shareholders, to anticipate new regulations that lead to best practices, to increase the trust of shareholders and other stakeholders as well as to increase the business to its optimum level.

Meningkatnya kebutuhan pengelolaan Bank yang sehat dan terpadu (Good Corporate Governance) memerlukan penerapan manajemen risiko yang terpadu dan komprehensif. Dalam rangka mencapai manajemen risiko yang mendukung pencapaian target kinerja dan mampu menjaga kelangsungan usaha, diperlukan strategi manajemen risiko yang proaktif yang dapat meningkatkan efektivitas penggunaan modal dan tingkat pengembangan modal (return on equity/ROE) sehingga dapat memberikan nilai tambah bagi pemegang saham, mengantisipasi ketentuan baru yang mengarah pada best practice, meningkatkan kepercayaan pemegang saham dan stakeholders lainnya serta meningkatkan bisnis pada tingkat optimal.

113




31. MANAJEMEN RISIKO (lanjutan)

31. RISK MANAGEMENT (continued)

Penerapan manajemen risiko di Bank telah dituangkan dalam beberapa kebijakan dan prosedur, antara lain Kebijakan Umum Manajemen Risiko (KUMR). KUMR berperan sebagai aturan tertinggi dalam implementasi manajemen risiko pada seluruh kegiatan bisnis Bank, yang meliputi kebijakan, strategi, organisasi, sistem informasi manajemen risiko, pengawasan risiko, pengelolaan produk dan aktivitas baru dan Business Continuity Plan (BCP).

Implementation of risk management in the Bank has been set in several policies and procedures, such as Risk Management General Policy (KUMR). KUMR is the supreme rule in the implementation of risk management in all business activities of Bank, covering the policies, strategy, organization, risk management information system, risk control, management of new products and activities and Business Continuity Plan (BCP).

Proses penerapan manajemen risiko yang meliputi identifikasi, pengukuran, pemantauan, pengelolaan dan pengendalian terhadap 8 (delapan) risiko yaitu risiko kredit, risiko pasar, risiko likuiditas, risiko operasional, risiko kepatuhan, risiko strategis, risiko hukum dan risiko reputasi.

Risk management implementation process includes identification, measurement, monitoring, management and control of the 8 (eight) types of risk which are credit risk, market risk, liquidity risk, operational risk, compliance risk, strategic risk, legal risk and reputational risk.

Penilaian Profil Risiko sesuai dengan PBI No. 13/1/PBI/2011 tanggal 5 Januari 2011 tentang Penilaian Tingkat Kesehatan Bank Umum dan SE BI No. 13/23/DPNP tanggal 25 Oktober 2011 perihal Perubahan atas Surat Edaran No. 5/21/DPNP perihal Penerapan Manajemen Risiko bagi Bank Umum dilakukan terhadap risiko yang melekat (inherent risk) dan kualitas penerapan manajemen risiko melalui proses self assessment pada seluruh aktivitas bisnis Bank yang mencakup 8 (delapan) risiko.

Risk profile assessment in accordance with PBI No. 13/1/PBI/2011 dated January 5, 2011 on The Soundness Rating of Commercial Banks and SE BI No. 13/23/DPNP dated October 25, 2011 on Amendment to Circular Letter No. 5/21/DPNP on Application of Risk Management for Commercial Banks is done on inherent risk and the implementation quality of risk management through the entire process of self assessment in all of the Bank's business activities which includes 8 (eight) types of risk.

Penerapan manajemen risiko melibatkan semua unsur dalam Bank, dimana Dewan Komisaris dan Direksi mempunyai tugas memastikan penerapan manajemen risiko telah memadai sesuai dengan karakteristik, kompleksitas dan profil risiko Bank serta memahami dengan baik jenis dan tingkat risiko yang melekat pada kegiatan bisnis bank.

The implementation of Risk Management involves all the elements within the Bank, where The Boards of Commissioners and Directors are responsible to ensure that adequate Risk Management in line with characteristics, complexity and the Bank’s risk profile, as well as a good understanding of the type and level of inherent risk in the Bank’s business activities.

Dewan Komisaris melakukan evaluasi terhadap kebijakan dan implementasi manajemen risiko yang dilakukan oleh Direksi. Evaluasi dilakukan dalam rangka memastikan bahwa Direksi mengelola aktivitas dan risiko-risiko Bank secara efektif. Dalam melakukan pengawasan aktif terhadap manajemen risiko Bank, Dewan Komisaris dibantu oleh Komite Pemantau Risiko.

The Board of Commissioners will evaluates the policies and implementation of risk management conducted by The Board of Directors. Evaluation is made to ensure that The Board of Director has managed the Risk Management Activities of the Bank in an effective manner. The active supervision of the Bank’s Risk Management, by The Board of Commissioner is assisted by Risk Monitoring Committee.

114






Direksi menentukan arah kebijakan dan strategi manajemen risiko secara komprehensif beserta implementasinya. Selain itu, Direksi bertanggungjawab untuk memastikan bahwa seluruh risiko yang material dan dampak yang ditimbulkan oleh risiko dimaksud telah ditindaklanjuti, termasuk pelaksanaan langkahlangkah perbaikan atas permasalahan atau penyimpangan dalam kegiatan usaha Bank yang ditemukan oleh Satuan Kerja Audit Intern (SKAI).

The Board of Directors determine the direction on comprehensive Risk Management Policies and Strategies and its implementation. In addition The Board of Directors also responsible to ensure that all significant risk and impact posed by such risk has been addressed, including corrective actions that has been taken or deviations in the Bank’s business activities identified by Internal Audit (IA).

Direksi Bank dibantu oleh Komite Manajemen Risiko (Risk Management Committee/RMC) sebagai komite tertinggi dalam sistem manajemen risiko Bank. Komite Manajemen Risiko mempunyai tugas dan tanggung jawab memberikan rekomendasi kepada Direktur Utama dalam merumuskan kebijakan, strategi manajemen risiko termasuk penetapan limit serta memperbaiki atau menyempurnakan pelaksanaan manajemen risiko yang dilakukan secara berkala maupun insidental sebagai akibat dari perubahan kondisi eksternal dan internal Bank yang akan mempengaruhi kecukupan permodalan dan profil risiko.

The Board of Directors is assisted by The Risk Management Committee (RMC), the highest committee in the Bank responsible for Risk Management. RMC is responsible to provide recommendations to the President Director in formulating policies, the risk management strategies including set the limit and also continually or incidentally improve Risk Management activities in line with changes of external and internal condition of the Bank which will affect the Bank’s capital adequacy and Risk Profile.

Manajemen Risiko Kredit

Credit Risk Management

Penerapan manajemen risiko kredit dilakukan dengan upaya:

Implementation of credit risk management is done by effort of:

•

Pemisahan pejabat kredit Relationship Management (RM) dan Credit Risk Management (CRM) serta pemisahan pengelolaan kredit tidak bermasalah (performing) dengan pengelolaan kredit bermasalah sebagai penerapan four eyes principles dan dimaksudkan agar pengelolaan risiko dalam aktivitas perkreditan dapat dilaksanakan secara lebih baik tanpa mengganggu proses bisnis yang berorientasi pertumbuhan bisnis yang sehat. Pejabat kredit lini diberikan batas kewenangan memutus kredit yang dituangkan dalam surat keputusan dimana kewenangannya ditetapkan berdasarkan integritas, kemampuan dan kompetensi serta pengalaman di bidang perkreditan yang sesuai dengan ketentuan yang ditetapkan sehingga proses pemberian kredit akan dilaksanakan lebih obyektif dan komprehensif dengan menerapkan prinsip kehati-hatian.

•

Separation of loan officers in Relationship Management (RM) and Credit Risk Management (CRM) as well as the separation of performing and non-performing loans management as the implementation of the four eyes principles and is intended to improve risk management of loan activities can be done without disrupting the business process with sound business growth oriented. Line credit officer is given an authorization limit of loan approval based on a decree whereby the authority is based on integrity, ability, competency, experience in credit field in accordance with the regulations so the loans granting process will be carried out more objectively and comprehensively by implementing the prudential principle.

•

Penerapan Credit Risk Rating (CRR) dan Credit Risk Scoring (CRS) sebagai alat untuk mengukur tingkat risiko dalam proses pemberian kredit dan mitigasi risiko kredit.

•

Implementation of Credit Risk Rating (CRR) and Credit Risk Scoring (CRS) as a tool to measure the level of risk in the loan granting process and for credit risk mitigation.

115






Manajemen Risiko Kredit (lanjutan)

Credit Risk Management (continued)

Penerapan manajemen risiko kredit dilakukan dengan upaya (lanjutan):

Implementation of credit risk management is done by effort of (continued):

•

Penetapan prosedur perkreditan yang sehat melalui penetapan Pasar Sasaran (PS) dan Kriteria Risiko yang Dapat Diterima (KRD).

•

Determination of sound credit procedures through the determination of Target Market (PS) and Acceptable Risk Criteria (KRD).

•

Pengendalian risiko, yaitu dengan cara melakukan pembatasan eksposur dan tindakan perbaikan sehingga kerugian yang mungkin terjadi dapat diminimalkan.

•

Risk control which conducted by limiting the exposure and performing corrective actions to minimize the potential losses.

•

Penerapan Early Warning System (EWS) sebagai salah satu alat pemantauan (credit monitoring) dengan cara mendeteksi secara lebih awal debitur yang berpotensi cidera janji (default).

•

Implementation of Early Warning System (EWS) as one of credit monitoring tools through early detection of debtors who have potential default.

(i)

Analisa eksposur maksimum terhadap risiko kredit setelah memperhitungkan dampak agunan dan mitigasi risiko kredit lainnya:

(i)

Analysis of maximum exposures on credit risks considering the impact of collateral and other credit risks mitigation:

Nilai tercatat dari aset keuangan Bank selain kredit yang diberikan menggambarkan eksposur maksimum atas risiko kredit.

The carrying value of the Bank’s financial assets other than loans represents its maximum exposure to credit risk.

Untuk kredit yang diberikan, Bank menggunakan agunan untuk meminimalkan risiko kredit. Berdasarkan klasifikasi, portofolio kredit Bank dapat dibedakan menjadi dua kelompok, yaitu:

For loans, the Bank uses collaterals to minimize credit risk. Based on the classification, the Bank’s portfolio consists of two groups:

(a) Secured loans (b) Partially secured loans

(a) Secured loans (b) Partially secured loans

Untuk secured loans, Bank menetapkan jenis dan nilai agunan yang dijaminkan sesuai skema kredit dan perkiraan tingkat risiko kredit dari counterparty sebagai second way out yang ditetapkan. Jenis dari agunan terdiri dari:

For secured loans, the Bank determined the type and value of collateral according to the loan scheme as well as estimated credit risk level from the counterparty as a determined second way out. The types of collateral are as follows:

(a)

(b)

(c)

Physical collateral, berupa tanah dan bangunan, BPKB kendaraan bermotor, dan properti. Financial collateral, berupa simpanan (tabungan, giro dan deposito), dan surat berharga. Lainnya berupa garansi, jaminan pemerintah, dan lembaga penjamin.

(a) Physical collateral, such as land and buildings, vehicle ownership evidence (BPKB) and property (b) Financial collateral, such as third party funds (saving deposits, demand deposits and time deposits), and securities. (c) Others, such as guarantees, government guarantee, and guarantee institution.

116








(i)

(i)

Analisa eksposur maksimum terhadap risiko kredit setelah memperhitungkan dampak agunan dan mitigasi risiko kredit lainnya (lanjutan):

Analysis of maximum exposures on credit risks considering the impact of collateral and other credit risks mitigation (continued):

Partially secured loans merupakan kredit yang diberikan untuk skema kredit tertentu yang telah melalui uji kelayakan sehingga walaupun tidak sepenuhnya dijamin oleh agunan, namun telah dilakukan mitigasi risiko yang diperlukan sehingga kemampuan pengembaliannya dapat dipastikan.

Partially secured loans represent loans given for specific loan scheme which has passed the feasibility test, so even if not fully secured by collaterals, the necessary risk mitigation has been done to ensure its collection ability.

Pemberian kredit yang dilaksanakan oleh Bank diatur dalam kebijakan dan prosedur perkreditan dimana untuk setiap jenis atau skema kredit telah ditentukan agunan minimal yang harus dipenuhi.

The loan granting conducted by the Bank is stipulated in the loan policy and procedure in which every loan type or scheme has minimum determinable collaterals that should be fulfilled.

Untuk segmen kredit kemitraan atau konsumer yang umumnya merupakan kredit kepada karyawan dan bersifat konsumtif, guna memperkecil risiko gagal bayar bilamana karyawan meninggal dunia atau di PHK (Pemutusan Hubungan Kerja), maka kredit ini dilindungi oleh asuransi jiwa dan asuransi PHK dengan banker’s clause Bank.

For linkage or consumer loans which generally represent employee loans and consumptive purpose, to minimize the default risk upon the employee’s death or work separation scheme (PHK), this loan covered by life and PHK insurances with banker’s clause.

Untuk segmen kredit ritel dan menengah yang umumnya merupakan kredit produktif, sesuai ketentuan perkreditan wajib dijamin oleh agunan. Agunan dapat berupa physical collateral, financial collateral atau lainnya berupa tagihan usaha atau garansi. Untuk seluruh agunan khususnya physical collateral akan dilakukan penilaian dimana nilai likuidasi atas agunan tersebut yang akan dipergunakan dalam menentukan kecukupan nilai agunan (coverage ratio).

For middle and retail loans which generally represent productive loan, according to the loan policy has to be collateralized. The collaterals can be physical collateral, financial collateral or others such as accounts receivable or guarantees. All collaterals particularly for physical collateral will be assessed in which the collateral’s liquidation value will be use in determining the coverage ratio.

Agunan tersebut diikat sesuai dengan ketentuan perkreditan sehingga risiko kredit dapat diminimalkan apabila debitur mengalami kegagalan dalam pembayaran kembali (wanprestasi) di kemudian hari.

The collateral will be pledged according to the existing loan policy as to minimize credit risk, should there be an event of default in the future.

Selain aspek agunan untuk meminimalkan risiko kredit, pemberian kredit oleh Bank selalu dilakukan berdasarkan evaluasi dan analisa kelayakan sehingga kemampuan pengembalian kredit (first way out) dapat dipastikan. Setiap pengajuan kredit wajib melalui proses pre screening, yaitu melalui sistem scoring untuk kredit konsumtif dan melalui sistem rating untuk kredit komersial.

In addition to collateral aspect to minimize credit risk, loan granting is conducted based on evaluation and feasibility analysis so that the loan repayment ability (first way out) can be ascertained. Every loan proposal should be pass through the pre screening process, which are consumptive loan through scoring system and commercial loan through rating system.

117








(i)

(i)

Analisa eksposur maksimum terhadap risiko kredit setelah memperhitungkan dampak agunan dan mitigasi risiko kredit lainnya (lanjutan):

Analysis of maximum exposures on credit risks considering the impact of collateral and other credit risks mitigation (continued):

The necessity for debtors to comply with collaterals requirement, loan feasibility evaluation, notarial agreement and pre screening procedures will decrease the Bank’s net exposure to the acceptable level.

Adanya keharusan bagi debitur untuk memenuhi agunan yang dipersyaratkan, evaluasi atas kelayakan kredit, pengikatan kredit secara legal dan prosedur pre screening akan menurunkan net eksposur Bank ke tingkat yang layak dan dapat diterima.

(ii) Financial assets quality

(ii) Kualitas aset keuangan

The table below shows financial assets quality per class of assets for all financial assets exposed by credit risk (gross of allowance for impairment losses):

Tabel di bawah menunjukkan kualitas aset keuangan berdasarkan golongan aset untuk semua aset keuangan yang mempunyai risiko kredit (diluar cadangan kerugian penurunan nilai):

31 Desember/December 31, 2016 Belum jatuh tempo atau tidak mengalami penurunan nilai/Neither past due nor impaired Tingkat Tingkat tinggi/ standar/ High grade Standard grade

Telah jatuh tempo tetapi tidak mengalami penurunan nilai/ Past-due but not impaired

Mengalami penurunan nilai/ Impaired

Total

Aset Giro pada Bank Indonesia Giro pada bank lain Penempatan pada Bank Indonesia dan bank lain Efek-efek Nilai wajar melalui laporan laba rugi Tersedia untuk dijual Dimiliki hingga jatuh tempo Kredit yang diberikan Menengah Ritel Konsumer Tagihan Akseptasi Penyertaan saham Aset lain-lain*) Total

*)

1.036.528.822 97.006.695

9.809.606

-

-

1.036.528.822 106.816.301

1.096.916.250

20.000.000

-

-

1.116.916.250

50.625.000 544.976.108 4.000.000

167.990.392 -

-

-

50.625.000 712.966.500 4.000.000

5.073.035.796 1.795.539.171 652.638.717 14.008.463

46.753.993 10.416.783 89.739.471 297.658 529.105

54.863.668 24.220.641 -

314.234.600 177.112.252 30.938.178 -

5.387.270.396 2.074.269.084 718.214.319 89.739.471 297.658 14.537.568

10.365.275.022

345.537.008

79.084.309

522.285.030

11.312.181.369

*)

Aset lain-lain terdiri atas piutang bunga dan piutang lain-lain

118

Assets Current accounts with Bank Indonesia Current accounts with other banks Placement with Bank Indonesia and other banks Securities Fair value through profit or loss Available-for-sale Held to maturity Loans Middle Retail Consumer Acceptances receivable Investment in shares of stocks Other assets*)

Other assets consist of interest receivables and other receivables

Total








(ii) Kualitas aset keuangan (lanjutan)

(ii) Financial assets quality (continued) The table below shows financial assets quality per class of assets for all financial assets exposed by credit risk (gross of allowance for impairment losses) (continued):

Tabel di bawah menunjukkan kualitas aset keuangan berdasarkan golongan aset untuk semua aset keuangan yang mempunyai risiko kredit (diluar cadangan kerugian penurunan nilai) (lanjutan):

31 Desember/December 31, 2015 Belum jatuh tempo atau tidak mengalami penurunan nilai/Neither past due nor impaired Tingkat Tingkat tinggi/ standar/ High grade Standard grade



Total

Aset Giro pada Bank Indonesia Giro pada bank lain Penempatan pada Bank Indonesia dan bank lain Efek-efek Nilai wajar melalui laporan laba rugi Tersedia untuk dijual Dimiliki hingga jatuh tempo Kredit yang diberikan Menengah Ritel Kemitraan Tagihan Akseptasi Penyertaan saham Aset lain-lain*) Total

*)

591.846.039 97.454.768

280.775.441

-

-

591.846.039 378.230.209

459.951.160

-

-

-

459.951.160

197.307.728 298.850.119 43.923.913

141.920.533 -

-

-

197.307.728 440.770.652 43.923.913

3.646.363.784 844.307.465 1.081.428.086 10.322.775

21.191.714 3.335.601 27.533.167 297.658 273.572

6.373.374 41.473.213 9.078.124 -

246.310.926 98.134.561 46.524.785 -

3.899.048.084 1.005.106.953 1.140.366.596 27.533.167 297.658 10.596.347

7.271.755.837

475.327.686

56.924.711

390.970.272

8.194.978.506

*)

Aset lain-lain terdiri atas piutang bunga dan piutang lain-lain

Assets Current accounts with Bank Indonesia Current accounts with other banks Placement with Bank Indonesia and other banks Securities Fair value through profit or loss Available-for-sale Held to maturity Loans Middle Retail Linkage Acceptances receivable Investment in shares of stocks Other assets*) Total

Other assets consist of interest receivables and other receivables

Kualitas kredit didefinisikan sebagai berikut:

Credit quality are defined as follows:

Tingkat tinggi

High grade

(a) Giro pada Bank Indonesia, giro pada bank lain, penempatan pada Bank Indonesia dan bank lain yaitu giro atau penempatan pada institusi Pemerintah, institusi Pemerintah Daerah, bank yang terdaftar di bursa serta transaksi dengan bank yang memiliki reputasi baik dengan tingkat kemungkinan gagal bayar atas kewajiban yang rendah.

(a)

Current accounts with Bank Indonesia, current accounts with other banks, placements with Bank Indonesia and other banks are current accounts or placements with the government institutions, local government institutions, banks listed in the stock exchange and transaction with reputable banks with low probability of insolvency.

(b) Efek-efek dan obligasi Pemerintah yaitu efek-efek yang dikeluarkan oleh Pemerintah, efek-efek dan obligasi yang termasuk dalam investment grade dengan rating minimal idBBB (Pefindo), BBB+ (S&P), Baa1 (Moody’s) atau BBB+ (Fitch).

(b)

Securities and Government bonds are government securities, investment grade securities and bonds with a rating of at least idBBB (Pefindo), BBB+ (S&P), Baa1 (Moody’s) or BBB+ (Fitch).

119









(ii) Financial assets quality (continued)

Kualitas kredit didefinisikan sebagai berikut (lanjutan):

Credit quality (continued):

Tingkat tinggi (lanjutan)

High grade (continued)

(c) Kredit yang diberikan yaitu kredit kepada debitur dengan riwayat pembayaran yang baik dan tidak pernah direstrukturisasi, memiliki kemampuan membayar dan rasiorasio laporan posisi keuangan yang konservatif.

(c)

Loans are loans to borrowers with satisfactory track record of loan repayment and whose accounts has never been restructured; have repayment capacity and has conservative statement of financial position ratios.

(d) Tagihan akseptasi merupakan transaksi letters of credit (L/C) atau Surat Kredit Berdokumen Dalam Negeri (SKBDN) yang diaksep oleh bank pengaksep dengan sumber pembayaran dari debitur. Debitur yang masuk dalam kategori ini mempunyai riwayat pembayaran yang sangat baik antara lain institusi Pemerintah, institusi Pemerintah Daerah dengan tingkat kemungkinan gagal bayar atas kewajiban yang rendah.

(d)

Acceptances receivable are letters of credit (L/C) or Domestic Documentary Letter of Credit (SKBDN) which accepted by an accepted banks with repayments source from borrowers with very satisfactory track record of repayment, such as: government institutions, local government institutions with low probability of insolvency.

(e) Penyertaan saham adalah investasi bank pada entitas lain dengan kepemilikan dibawah 20%. Entitas tersebut merupakan institusi Pemerintah atau institusi Pemerintah Daerah.

(e)

Investment in shares of stocks are investment by the bank in other entities with ownership below 20%. The entities are government institutions or local government institutions.

(f) Aset lain-lain yaitu piutang bunga kepada Pemerintah atau Pemerintah Daerah seperti Pendapatan Bunga yang Masih Harus Diterima (PYMHD) atas obligasi Pemerintah dan piutang lainnya.

(f)

Other assets are interest receivables from government or local government such as: interest receivables from Government bonds and other receivables.

Tingkat standar

Standard grade

(a) Giro pada bank lain, penempatan pada bank lain yaitu giro atau penempatan pada bank yang tidak terdaftar di bursa.

(a)

120

are

defined

as

follows

Current accounts with other banks, placement with other banks are current accounts or placements with non-listed banks.









(ii) Financial assets quality (continued)

Kualitas kredit didefinisikan sebagai berikut (lanjutan):

Credit quality (continued):

Tingkat standar (lanjutan)

Standart grade (continued)

(b) Efek-efek dan obligasi yaitu efek-efek dan obligasi yang termasuk dalam noninvestment grade dengan rating minimal idBB (Pefindo), BBB- (S&P), Baa3 (Moody’s) atau BBB- (Fitch).

(b)

Securities and bonds are non-investment grade securities and bonds with a rating of at least idBB (Pefindo), BBB- (S&P), Baa3 (Moody’s) or BBB- (Fitch).

(c) Kredit yang diberikan yaitu kredit kepada debitur dengan riwayat pembayaran yang baik; debitur dengan riwayat pernah direstrukturisasi, akses terbatas untuk memperoleh pendanaan dalam jumlah besar dari pasar terbuka; tingkat pendapatan dan kinerja keseluruhan tidak stabil; memiliki kemampuan membayar yang cukup.

(c)

Loans are loans to borrowers with an average track record of loan repayment; borrowers whose accounts has been restructured; limited access to raise substantial amounts of funds through public market; volatile earnings and overall performance; adequate repayment capacity.

(d) Tagihan akseptasi merupakan transaksi letters of credit (L/C) atau Surat Kredit Berdokumen Dalam Negeri (SKBDN) yang diaksep oleh bank pengaksep dengan sumber pembayaran dari debitur. Debitur yang masuk dalam kategori ini selain dari institusi Pemerintah atau institusi Pemerintah Daerah dengan tingkat kemungkinan gagal bayar atas kewajiban yang cukup.

(d)

Acceptances receivable are letters of credit (L/C) or Domestic Documentary Letter of Credit (SKBDN) which accepted by an accepted banks with repayments source from borrowers other than government institution or local government with adequate probability of insolvency.

(e) Penyertaan saham adalah investasi bank pada entitas lain selain institusi Pemerintah dengan kepemilikan dibawah 20%.

(e)

Investment in shares of stocks are investment by the bank in other entities other than government institution with ownership below 20%.

(f) Aset lain-lain yaitu aset keuangan lainnya selain piutang bunga kepada Pemerintah atau Pemerintah Daerah seperti tagihan rupa-rupa kepada pihak ketiga lainnya.

(f)

Other assets are financial assets other than interest receivables from government or local government such as other receivables to third parties.

121

are

defined

as

follows









(ii) Financial assets quality (continued) According to SFAS No. 60, financial asset is due when the repayment is default. The table below shows aging analysis of past-due but not impaired loans:

Berdasarkan PSAK No. 60, aset keuangan yang telah jatuh tempo ditentukan ketika debitur gagal melakukan pembayaran sesuai jadwal. Tabel di bawah menunjukkan aging analysis terhadap kredit yang diberikan yang telah jatuh tempo tetapi tidak mengalami penurunan nilai:

31 Desember/December 31, 2016 ≤ 30 hari/ days

31 - 60 hari/ days

61 - 90 hari/ days

> 90 hari/ days

Total

Kredit yang diberikan Ritel Konsumer

54.863.668 24.219.956

685

-

-

54.863.668 24.220.641

Loans Retail Consumer

Total

79.083.624

685

-

-

79.084.309

Total

31 Desember/December 31, 2015 ≤ 30 hari/ days

31 - 60 hari/ days

61 - 90 hari/ days

> 90 hari/ days

Total

Kredit yang diberikan Menengah Ritel Kemitraan

6.373.374 40.104.480 9.037.915

499.350 -

869.383 40.209

-

6.373.374 41.473.213 9.078.124

Loans Middle Retail Linkage

Total

55.515.769

499.350

909.592

-

56.924.711

Total

(iii) Risk concentration analysis

(iii) Analisa konsentrasi risiko

(a) Geographical sectors

(a) Sektor geografis

The following tables show the details of credit exposures categorized by geographic area as of December 31, 2016 and 2015. Geographic grouping is based on the Bank’s business operations which also illustrates the business potential of each region:

Tabel berikut menggambarkan rincian eksposur kredit yang dikategorikan berdasarkan wilayah geografis pada tanggal-tanggal 31 Desember 2016 dan 2015. Pengelompokan wilayah geografis berdasarkan tempat beroperasinya bisnis Bank yang sekaligus menggambarkan potensial bisnis wilayah masing-masing: 31 Desember/December 31, 2016 Jabodetabek Aset Giro pada Bank Indonesia Giro pada bank lain Penempatan pada Bank Indonesia dan bank lain Efek-efek Nilai wajar melalui laporan laba rugi Tersedia untuk dijual Dimiliki hingga jatuh tempo Kredit Menengah Ritel Konsumer Tagihan akseptasi Penyertaan saham Aset lain-lain*) Total

1.036.528.822 106.557.101

Jawa/ Java

Kalimantan/ Borneo

Sumatera

50.317

178.883

Sulawesi

20.000

Total

10.000

1.036.528.822 106.816.301

Assets Current accounts with Bank Indonesia Current accounts with other banks Placements with Bank Indonesia and other banks Securities Fair value through profit or loss Available-for-sale Held to maturity Loans Middle Retail Consumer Acceptances receivable Investment in shares of stocks Other assets*)

1.116.916.250

-

-

-

-

1.116.916.250

50.625.000 712.966.500 4.000.000

-

-

-

-

50.625.000 712.966.500 4.000.000

3.399.659.729 651.483.449 218.506.451 58.553.497 297.658 14.074.978

948.797.685 298.602.206 167.931.802 31.185.974 44.561

588.747.733 513.894.544 281.020.182 342.279

358.824.165 571.257.444 33.716.090 73.750

91.241.084 39.031.441 17.039.794 2.000

5.387.270.396 2.074.269.084 718.214.319 89.739.471 297.658 14.537.568

7.370.169.435

1.446.612.545

1.384.183.621

963.891.449

147.324.319

11.312.181.369

Total

(239.924.900 )


11.072.256.469

Net

Cadangan kerugian penurunan nilai Neto

122








(iii) Analisa konsentrasi risiko (lanjutan)

(iii) Risk concentration analysis (continued) (a) Geographical sectors (continued)

(a) Sektor geografis (lanjutan)

The following tables show the details of credit exposures categorized by geographic area as of December 31, 2016 and 2015. Geographic grouping is based on the Bank’s business operations which also illustrates the business potential of each region (continued):

Tabel berikut menggambarkan rincian eksposur kredit yang dikategorikan berdasarkan wilayah geografis pada tanggal-tanggal 31 Desember 2016 dan 2015. Pengelompokan wilayah geografis berdasarkan tempat beroperasinya bisnis Bank yang sekaligus menggambarkan potensial bisnis wilayah masing-masing (lanjutan):

31 Desember/December 31, 2016 Jabodetabek

Jawa/ Java

Sumatera

Kalimantan/ Borneo

Sulawesi

Total

Rekening Administratif Fasilitas kredit yang belum ditarik**) L/C impor yang tidak dapat dibatalkan Garansi yang diterbitkan

661.202.020 28.837.322 3.696.243

85.084.878 2.073.216 260.000

103.495.703 1.333.999

17.241.281 -

6.719.802 200.000

873.743.684 30.910.538 5.490.242

Administrative accounts Unused loan facility**) Irrevocable import L/C Guarantees issued

Total

693.735.585

87.418.094

104.829.702

17.241.281

6.919.802

910.144.464

Total

31 Desember/December 31, 2015 Jabodetabek

Jawa/ Java

Kalimantan/ Borneo

Sumatera

Sulawesi

Total

Aset Giro pada Bank Indonesia Giro pada bank lain Penempatan pada Bank Indonesia dan bank lain Efek-efek Nilai wajar melalui laporan laba rugi Tersedia untuk dijual Dimiliki hingga jatuh tempo Kredit Menengah Ritel Kemitraan Tagihan akseptasi Penyertaan saham Aset lain-lain*)

459.951.160

-

-

-

-

459.951.160

197.307.728 440.770.652 43.923.913

-

-

-

-

197.307.728 440.770.652 43.923.913

2.640.460.124 238.881.740 309.801.438 27.533.167 297.658 10.402.608

523.816.142 231.912.152 153.782.459 32.453

436.055.449 435.010.480 349.562.315 106.463

212.711.786 80.028.548 322.386.525 45.650

86.004.583 19.274.033 4.833.859 9.173

3.899.048.084 1.005.106.953 1.140.366.596 27.533.167 297.658 10.596.347

Total

5.333.834.286

912.614.829

1.221.785.718

616.512.531

110.231.142

8.194.978.506

591.846.039 372.658.059

3.071.623

1.051.011

1.340.022

109.494

Cadangan kerugian penurunan nilai

(131.831.158 )

Neto Rekening Administratif Fasilitas kredit yang belum ditarik**) L/C impor yang tidak dapat dibatalkan Garansi yang diterbitkan

335.763.285 26.304.440 6.949.236

247.757.037 11.587.134 921.080

188.492.265 5.895.750 2.073.668

54.711.294 -

Total

369.016.961

260.265.251

196.461.683

54.711.294

*) **)

591.846.039 378.230.209

*) **)

Aset lain-lain terdiri atas piutang bunga dan piutang lain-lain Hanya fasilitas kredit komitmen yang belum ditarik

123

Assets Current accounts with Bank Indonesia Current accounts with other banks Placements with Bank Indonesia and other banks Securities Fair value through profit or loss Available-for-sale Held to maturity Loans Middle Retail Linkage Acceptances receivable Investment in shares of stocks Other assets*) Total Allowance for impairment losses

8.063.147.348

Net

22.218.125 -

848.942.006 43.787.324 9.943.984

Administrative accounts Unused loan facility**) Irrevocable import L/C Guarantees issued

22.218.125

902.673.314

Total

Other assets consist of interest receivables and other receivables Only for committed unused loan facility









(iii) Risk concentration analysis (continued)

b)

(b) Industrial sectors

Sektor industri

The following tables provide the details of the credit exposure at the carrying amounts categorized by industry sector as of December 31, 2016 and 2015:

Tabel berikut menggambarkan rincian eksposur kredit pada nilai tercatat yang dikategorikan berdasarkan sektor industri pada tanggal-tanggal 31 Desember 2016 dan 2015: 31 Desember/December 31, 2016 Pemerintah (termasuk Bank Indonesia)/ Government (including Bank Indonesia) Aset Giro pada Bank Indonesia Giro pada bank lain Penempatan pada Bank Indonesia dan bank lain Efek-efek Nilai wajar melalui laporan laba rugi Tersedia untuk dijual Dimiliki hingga jatuh tempo Kredit yang diberikan Menengah Ritel Konsumer Tagihan akseptasi Penyertaan saham Aset lain-lain*) Total

Bank dan lembaga keuangan lainnya/ Banks and other financial institutions

Perusahaan lainnya/ Other companies

Perseorangan/ Individuals

1.036.528.822

-

-

-

-

106.816.301

-

-

106.816.301

376.916.250

740.000.000

-

-

1.116.916.250

50.625.000 546.734.894 -

166.231.606 4.000.000

-

-

50.625.000 712.966.500 4.000.000

348.025.611 -

38.196.554 1.943.917 -

4.950.367.060 1.563.816.006 350.940 89.739.471

50.681.171 508.509.161 717.863.379 -

5.387.270.396 2.074.269.084 718.214.319 89.739.471

9.446.697

277.658 4.574.099

20.000 516.772

-

297.658 14.537.568

Assets Current accounts with Bank Indonesia Current accounts with other banks Placements with Bank Indonesia and other banks Securities Fair value through profit or loss Available-for-sale Held to maturity Loans Middle Retail Consumer Acceptances receivable Investment in shares of stocks Other assets*)

2.368.277.274

1.062.040.135

6.604.810.249

1.277.053.711

11.312.181.369

Total

(239.924.900)


11.072.256.469

Net

Cadangan kerugian penurunan nilai Neto

Rekening Administratif Fasilitas kredit yang belum ditarik**) L/C impor yang tidak dapat dapat dibatalkan Garansi yang diterbitkan Total

*) **)

Total

1.036.528.822

Administrative Accounts 207.103.159

39.605.497

602.050.942

24.984.086

873.743.684

Unused loan facility**)

-

286.541

30.910.538 5.203.701

-

30.910.538 5.490.242

Irrevocable import L/C Guarantees issued

207.103.159

39.892.038

638.165.181

24.984.086

910.144.464

Total

*) **)


124










(iii) Risk concentration analysis (continued) (b) Industrial sectors (continued)

(b) Sektor industri (lanjutan)

31 Desember/December 31, 2015 Pemerintah (termasuk Bank Indonesia)/ Government (including Bank Indonesia) Aset Giro pada Bank Indonesia Giro pada bank lain Penempatan pada Bank Indonesia dan bank lain Efek-efek Nilai wajar melalui laporan laba rugi Tersedia untuk dijual Dimiliki hingga jatuh tempo Kredit yang diberikan Menengah Ritel Kemitraan Tagihan akseptasi Penyertaan saham Aset lain-lain*) Total

Bank dan lembaga keuangan lainnya/ Banks and other financial institutions

Perusahaan lainnya/ Other companies

Perseorangan/ Individuals

591.846.039

-

-

-

591.846.039

-

378.230.209

-

-

378.230.209

99.951.160

360.000.000

-

-

459.951.160

141.110.228 309.739.442 -

56.197.500 131.031.210 43.923.913

-

-

197.307.728 440.770.652 43.923.913

223.847.014 -

63.063.941 943.917 27.533.167

3.493.349.446 378.637.344 608.338.044 -

118.787.683 625.525.692 532.028.552 -

3.899.048.084 1.005.106.953 1.140.366.596 27.533.167

277.658 4.519.425

20.000 273.572

-

297.658 10.596.347

Assets Current accounts with Bank Indonesia Current accounts with other banks Placements with Bank Indonesia and other banks Securities Fair value through profit or loss Available-for-sale Held to maturity Loans Middle Retail Linkage Acceptances receivable Investment in shares of stocks Other assets*)

1.065.720.940

4.480.618.406

1.276.341.927

8.194.978.506

Total

5.803.350 1.372.297.233


(131.831.158)

Neto

Rekening Administratif Fasilitas kredit yang belum ditarik**) L/C impor yang tidak dapat dapat dibatalkan Garansi yang diterbitkan Total

*) **)

Total


8.063.147.348

Net

Administrative Accounts 243.898.919

28.068.236

549.763.944

27.210.907

848.942.006

Unused loan facility**)

-

60.306

43.787.324 9.883.678

-

43.787.324 9.943.984

Irrevocable import L/C Guarantees issued

243.898.919

28.128.542

603.434.946

27.210.907

902.673.314

Total

*) **)


125









(iv) Penurunan nilai aset keuangan pada tanggaltanggal 31 Desember 2016 dan 2015:

(iv) Impairment of financial assets December 31, 2016 and 2015:

as

of

(a) Current accounts with other banks

(a) Giro pada bank lain Pada tanggal-tanggal 31 Desember 2016 dan 2015, aset keuangan ini tidak mengalami penurunan nilai secara individual maupun kolektif.

As of December 31, 2016 and 2015, this financial assets is not individually or collectively impaired.

(b) Penempatan pada Bank Indonesia dan bank lain

(b) Placements with Bank Indonesia and other banks

Pada tanggal-tanggal 31 Desember 2016 dan 2015, aset keuangan ini tidak mengalami penurunan nilai secara individual maupun kolektif.


(c) Securities

(c) Efek-efek


Pada tanggal-tanggal 31 Desember 2016 dan 2015, aset keuangan ini tidak mengalami penurunan nilai secara individual maupun kolektif.

(d) Loans

(d) Kredit yang diberikan

As of December 31, 2016 and 2015, the breakdown of not impaired and impaired loans are as follows:

Pada tanggal-tanggal 31 Desember 2016 dan 2015, rincian kredit yang tidak mengalami penurunan nilai dan yang mengalami penurunan nilai adalah sebagai berikut: 31 Desember/December 31, 2016

Belum jatuh tempo atau tidak mengalami penurunan nilai/Neither past due nor impaired ____________________

Tingkat Tingkat tinggi/ standar/ High grade Standard grade

Rupiah Pertanian Perdagangan Jasa dunia usaha Perindustrian Konstruksi Pengangkutan Jasa pelayanan sosial Pertambangan Listrik, gas dan air Lain-lain



Total

3.037.528.885 1.536.708.064 1.248.627.195 544.182.545 203.336.882 119.187.224 104.277.231 5.934.580 3.084.805 658.766.288

11.113.679 8.712.617 19.045.532 1.897.338 1.386.823 3.871.364 726.640 10.416.783

5.798.526 34.554.509 4.476.622 4.046.942 3.920.657 1.296.715 769.698 24.220.640

296.690.323 103.097.751 25.444.186 13.069.651 35.898.495 11.758.794 5.387.652 30.938.178

3.351.131.413 1.683.072.941 1.297.593.535 563.196.476 243.156.034 133.629.556 114.305.945 6.661.220 3.084.805 724.341.889

7.461.633.699

57.170.776

79.084.309

522.285.030

8.120.173.814

126

Rupiah Agriculture Trading Business services Manufacturing Construction Transportation Social services Mining Electricity, gas and water Others








(iv) Penurunan nilai aset keuangan pada tanggaltanggal 31 Desember 2016 dan 2015 (lanjutan):

(iv)

Impairment of financial assets as of December 31, 2016 and 2015 (continued): (d) Loans (continued)

(d) Kredit yang diberikan (lanjutan)

As of December 31, 2016 and 2015, the breakdown of not impaired and impaired loans are as follows (continued):

Pada tanggal-tanggal 31 Desember 2016 dan 2015, rincian kredit yang tidak mengalami penurunan nilai dan yang mengalami penurunan nilai adalah sebagai berikut (lanjutan): 31 Desember/December 31, 2016


Tingkat Tingkat tinggi/ standar/ High grade Standard grade Dolar Amerika Serikat Pengangkutan Perindustrian Perdagangan

Total

26.872.576 16.811.222 15.896.187


-


-

Total

-

26.872.576 16.811.222 15.896.187

59.579.985

-

-

-

59.579.985

7.521.213.684

57.170.776

79.084.309

522.285.030

8.179.753.799


(239.924.900)

Neto

7.939.828.899

United States Dollar Transportation Manufacturing Trading

Total Allowance for impairment losses Net



Tingkat Tingkat tinggi/ standar/ High grade Standard grade Rupiah Pertanian Perdagangan Jasa dunia usaha Perindustrian Konstruksi Jasa pelayanan sosial Pengangkutan Pertambangan Listrik, gas dan air Lain-lain

Dolar Amerika Serikat Perdagangan Perindustrian Pengangkutan

Total



Total

2.028.240.665 898.859.367 989.129.361 524.307.619 139.453.467 72.815.348 55.615.007 3.379.208 1.124.872 783.061.199

6.627.829 6.226.573 5.716.395 2.775.377 668.049 155.568 2.357.524

10.726.078 10.139.257 2.656.594 1.923.520 7.975.109 2.176.148 1.360.114 649.305 19.318.586

241.578.830 49.308.419 28.954.891 5.222.827 29.403.855 6.273.184 14.860.285 811.439 14.556.542

2.287.173.402 964.533.616 1.020.740.846 537.170.361 179.607.808 81.932.729 71.990.974 4.839.952 1.124.872 819.293.851

5.495.986.113

24.527.315

56.924.711

390.970.272

5.968.408.411

18.579.423 29.986.592 27.547.207

-

-

-

18.579.423 29.986.592 27.547.207

76.113.222

-

-

-

76.113.222

5.572.099.335

24.527.315

56.924.711

390.970.272

6.044.521.633


(131.831.158)

Neto

5.912.690.475

127

Rupiah Agriculture Trading Business services Manufacturing Construction Social services Transportation Mining Electricity, gas and water Others

United States Dollar Trading Manufacturing Transportation

Total Allowance for impairment losses Net








(iv) Penurunan nilai aset keuangan pada tanggaltanggal 31 Desember 2016 dan 2015 (lanjutan):

(iv)

Impairment of financial assets as of December 31, 2016 and 2015 (continued):

(e) Acceptances receivable

(e) Tagihan Akseptasi

As of December 31, 2016 and 2015, this financial asset is neither individually nor collectively impaired.

Pada tanggal-tanggal 31 Desember 2016 dan 2015, aset keuangan ini tidak mengalami penurunan nilai secara individual maupun kolektif. Manajemen Risiko Pasar

Market Risk Management

Pengelolaan manajemen risiko pasar dilakukan melalui rapat Asset and Liability Committee (ALCO) yang membahas manajemen risiko pasar, strategi Asset and Liability Management (ALMA) dan pengukuran risiko pasar melalui analisis terhadap pemicu munculnya risiko (risk driver), yaitu suku bunga dan nilai tukar. Risiko suku bunga dan risiko nilai tukar dapat berasal dari posisi trading book maupun banking book. Cakupan posisi banking book dan trading book mengacu pada ketentuan Bank Indonesia mengenai kewajiban penyediaan modal minimum (CAR).

Market risk management is conducted through Asset and Liability Committee (ALCO) meetings which discuss market risk management, Asset and Liability Management (ALMA) strategy and the measurement of market risk through an analysis of the risk drivers, which are interest rates and exchange rates. Interest rate and exchange rate risks can be generated either from trading or banking book position. The scope of banking and trading book positions is in accordance with Bank Indonesia regulation concerning the capital adequacy ratio (CAR).

Dalam pengelolaan risiko pasar trading book, Bank menetapkan prinsip segregation of duties. Terdapat pemisahan fungsi antara pihak yang melakukan transaksi, yang melakukan pencatatan transaksi, verifikasi, unit pembuat kebijakan, prosedur dan penetapan limit serta pengukuran risiko pasarnya termasuk perhitungan CAR. Bank melakukan perhitungan CAR risiko pasar dengan menggunakan model standar sebagai komponen perhitungan CAR. Apabila terdapat gap terhadap eksposure aset dan liabilitas untuk risiko pasar dan risiko nilai tukar dalam periode tidak lebih dari 3 bulan, Bank memitigasinya dengan contingent stand by credit lines dari BRI sebagai Entitas Induk.

In the market risk management of trading book, the Bank established the segregation of duties principle. There is a separation of functions among the parties who perform transactions, keep records of transactions, verification, policy makers unit, procedures and establishment of limits as well as the measurement of market risk, including calculation of CAR. The Bank calculates its market risk CAR using the standard model as a component of the calculation of CAR. If there is a gap on assets and liabilities for market risk and foreign exchanged risk within 3 months, Bank will mitigate it by using contingent stand by credit lines from BRI as Parent Company.

Risiko pasar banking book, terdiri dari risiko tingkat suku bunga yang diakibatkan oleh aktivitas perbankan (aset dan liabilitas) dan risiko nilai tukar. Risiko pasar banking book dikelola dengan tujuan agar laporan posisi keuangan Bank dapat bertahan pada perubahan suku bunga dan nilai tukar, sehingga dapat mencapai Net Interest Income (NII) yang dapat dikendalikan sesuai dengan toleransi risiko Bank.

Market risk of banking book, consists of interest rate risk resulting from the Bank activities (assets and liabilities) and exchange rate risk. Market risk of banking book is managed with the aim that the statement of financial position of the Bank can survive during changes of interest rates and exchange rates, thus achieving Net Interest Income (NII) that can be managed in accordance with Bank’s risk tolerance.

128






Manajemen Risiko Pasar (lanjutan)

Market Risk Management (continued)

(a) Risiko Tingkat Suku Bunga

(a) Interest Rate Risk

Instrumen keuangan yang berbasis suku bunga memiliki risiko karena terdapat potensi perubahan suku bunga yang akan membawa dampak kepada arus kas di masa depan.

Interest based financial instruments contain risks as there are potential changes in interest rate which impact the future cash flows.

Risiko tingkat suku bunga terutama terjadi karena adanya gap suku bunga (repricing gap) akibat perbedaan-perbedaan dalam skedul jatuh tempo atau waktu repricing antar aset, liabilitas dan komponen rekening administratif yang dimiliki oleh Bank.

Interest rate risk mainly occurs due to the repricing gap as a result of differences either in maturity or time schedule between the repricing of assets, liabilities and administrative accounts components which owned by the Bank.

Tabel di bawah ini merupakan tingkat suku bunga rata-rata per tahun untuk posisi aset dan liabilitas keuangan Bank untuk tahun yang berakhir pada tanggal-tanggal 31 Desember 2016 dan 2015:

The table below represents the annual average interest rates of assets and liabilities for the years ended December 31, 2016 and 2015:

31 Desember/December 31, 2016 Mata uang asing/ Foreign currency %

Rupiah % Aset Giro pada bank lain Penempatan pada Bank Indonesia dan bank lain Efek-efek Kredit yang diberikan Liabilitas Simpanan nasabah Simpanan dari bank lain

31 Desember/December 31, 2015 Mata uang asing/ Foreign currency %

Rupiah %

0,79

0,07

0,86

0,07

4,80 8,43 12,89

5,09 6,35

5,92 8,36 13,29

4,90 6,34

Assets Current accounts with other banks Placement with Bank Indonesia and other banks Securities Loans

4,35 4,43

1,01 -

4,29 4,67

1,30 -

Liabilities Deposits from customers Deposits from other banks

The tables below summarize the assets and liabilities exposures to interest rate risk (Gross) (Unaudited):

Tabel berikut ini mengikhtisarkan eksposur aset dan liabilitas terhadap risiko tingkat suku bunga (Gross) (Tidak diaudit):

31 Desember/December 31, 2016 Suku bunga mengambang/Floating interest rate Lebih dari 3 bulan tetapi tidak lebih dari 1 tahun/ More than 3 months until 1 year

Tidak lebih dari 3 bulan/ Up to 3 months Aset Kas Giro pada Bank Indonesia Giro pada bank lain Penempatan pada Bank Indonesia dan bank lain Efek-efek Nilai wajar melalui laporan laba rugi Tersedia untuk dijual Dimiliki hingga jatuh tempo Kredit yang diberikan Menengah Ritel Konsumer Tagihan akseptasi Penyertaan saham Aset lain-lain*) Total

Lebih dari 1 tahun/ More than 1 year

Tidak dikenakan bunga/ Non-interest bearing

Suku bunga tetap/ Fixed interest rate

Total

1.116.916.250

-

-

-

-

1.116.916.250

-

156.034.896 -

-

50.625.000 556.931.604 4.000.000

-

50.625.000 712.966.500 4.000.000

315.609.370 166.886.100 4.610.257 -

1.421.409.089 577.864.470 23.370.996 -

3.650.251.937 1.329.518.514 690.233.066 -

-

89.739.471 297.658 14.537.568

5.387.270.396 2.074.269.084 718.214.319 89.739.471 297.658 14.537.568

Assets Cash Current accounts with Bank Indonesia Current accounts with other banks Placements with Bank Indonesia and other Banks Securities Fair value through profit or loss Available-for-sale Held to maturity Loans Middle Retail Consumer Acceptances receivable Investment in shares of stocks Other assets*)

2.747.367.100

2.178.679.451

5.670.003.517

611.556.604

133.229.059

11.340.835.731

Total

1.036.528.822 106.816.301

-

-

129

-

28.654.362 -

28.654.362 1.036.528.822 106.816.301








(a) Risiko Tingkat Suku Bunga (lanjutan)

(a) Interest Rate Risk (continued) The tables below summarize the assets and liabilities exposures to interest rate risk (Gross) (Unaudited) (continued):

Tabel berikut ini mengikhtisarkan eksposur aset dan liabilitas terhadap risiko tingkat suku bunga (Gross) (Tidak diaudit) (lanjutan):


Tidak lebih dari 3 bulan/ Up to 3 months




Total

Liabilitas Liabilitas segera Simpanan nasabah Deposito berjangka Giro Tabungan Simpanan dari bank lain Liabilitas akseptasi Liabilitas lain-lain**)

-

-

-

-

10.404.947

10.404.947

7.749.261.976 679.846.697 461.123.290 3.714.202 -

333.546.540 -

-

-

89.739.471 32.867.060

8.082.808.516 679.846.697 461.123.290 3.714.202 89.739.471 32.867.060

Total

8.893.946.165

333.546.540

-

-

133.011.478

9.360.504.183

Total

1.980.331.548

Interest rate repricing gap between financial assets and liabilities

Perbedaan (gap) repricing suku bunga antara aset dan liabilitas keuangan

(6.146.579.065)

1.845.132.911

5.670.003.517

611.556.604

217.581

Liabilities Liabilities due immediately Deposits from customers Time deposits Demand deposits Saving deposits Deposits from other banks Acceptances payable Other liabilities**)


Tidak lebih dari 3 bulan/ Up to 3 months Aset Kas Giro pada Bank Indonesia Giro pada bank lain Penempatan pada Bank Indonesia dan bank lain Efek-efek Nilai wajar melalui laporan laba rugi Tersedia untuk dijual Dimiliki hingga jatuh tempo Kredit yang diberikan Menengah Ritel Kemitraan Tagihan akseptasi Penyertaan saham Aset lain-lain*) Total

591.846.039 378.230.209


-



-

-

Total

21.344.659 -

21.344.659 591.846.039 378.230.209

459.951.160

-

-

-

-

459.951.160

-

131.031.210 -

-

197.307.728 309.739.442 43.923.913

-

197.307.728 440.770.652 43.923.913

153.091.163 119.886.376 4.137.244 -

1.320.661.881 333.496.087 32.237.893 -

2.425.295.040 551.724.490 1.103.991.459 -

-

27.533.167 297.658 10.596.347

3.899.048.084 1.005.106.953 1.140.366.596 27.533.167 297.658 10.596.347

1.707.142.191

1.817.427.071

4.081.010.989

550.971.083

59.771.831

8.216.323.165

Assets Cash Current accounts with Bank Indonesia Current accounts with other banks Placements with Bank Indonesia and other Banks Securities Fair value through profit or loss Available-for-sale Held to maturity Loans Middle Retail Linkage Acceptances receivable Investment in shares of stocks Other assets*) Total

Liabilitas Liabilitas segera Simpanan nasabah Deposito berjangka Giro Tabungan Simpanan dari bank lain Liabilitas akseptasi Liabilitas lain-lain**)

-

-

-

-

19.362.789

19.362.789

5.685.185.766 456.347.756 451.827.362 3.889.698 -

268.690.296 -

-

-

27.533.167 26.613.495

5.953.876.062 456.347.756 451.827.362 3.889.698 27.533.167 26.613.495

Total

6.597.250.582

268.690.296

-

-

73.509.451

6.939.450.329

Total

1.276.872.836

Interest rate repricing gap between financial assets and liabilities

Perbedaan (gap) repricing suku bunga antara aset dan liabilitas keuangan

*) **)

(4.890.108.391)

1.548.736.775

4.081.010.989

550.971.083

*) **)

Aset lain-lain terdiri dari piutang bunga dan piutang lain-lain Liabilitas lain-lain terdiri dari bunga yang masih harus dibayar dan setoran jaminan

130

(13.737.620)

Liabilities Liabilities due immediately Deposits from customers Time deposits Demand deposits Saving deposits Deposits from other banks Acceptances payable Other liabilities**)

Other assets consist of interest receivables and other receivables Other liabilities consist of interest payable and guarantee deposits








(a) Risiko Tingkat Suku Bunga (lanjutan)

(a) Interest Rate Risk (continued) The tables below present the sensitivity of the Bank’s profit or loss and other comprehensive income to possible changes in interest rate, assuming all other variables are constant for the years ended December 31, 2016 and 2015:

Tabel di bawah ini menunjukkan sensitivitas terhadap kemungkinan perubahan atas suku bunga terhadap laba rugi dan penghasilan komprehensif lain dengan asumsi bahwa semua variabel lain yang dimiliki adalah konstan untuk tahun yang berakhir pada tanggal-tanggal 31 Desember 2016 dan 2015:

31 Desember/December 31, 2016 Dampak terhadap laba (rugi) dan penghasilan komprehensif lain sebelum pajak/ Impact to profit or (loss) and other comprehensive income before tax

Perubahan persentase/ Change in percentage

Rupiah

+1% -1%

43.014.462 (43.014.462)

Rupiah



Rupiah

+1% -1%

34.009.704 (34.009.704)

Rupiah

Sensitivity level is used to analyze the possible changes in interest rate which impacted the gain or loss of banking book portfolios. The sensitivity analysis above asssuming changes in interest rate for banking book portfolios at basis 1%.

Tingkat sensitivitas digunakan untuk menganalisis kemungkinan perubahan suku bunga yang berdampak pada keuntungan dan kerugian portofolio banking book. Pada analisa sensitivitas di atas, asumsi perubahan suku bunga untuk portofolio banking book dengan basis 1%. (b) Risiko Nilai Tukar

(b) Exchange Rate Risk Exchange rate risk is the risk due to the gap of foreign exchange positions held by the Bank which is reflected in the Net Open Position (NOP) either individually or as a whole. Included in the foreign exchange position is the position of the trading book which is done either to gain foreign exchange transaction income in the short-term period or banking book positions in order to control NOP.

Risiko nilai tukar merupakan risiko yang timbul karena adanya gap posisi valuta asing yang dimiliki Bank yang tercermin dalam Posisi Devisa Neto (PDN) baik secara individual maupun secara keseluruhan. Termasuk dalam posisi valuta asing tersebut yaitu posisi trading book yang dilakukan dengan tujuan untuk mendapatkan keuntungan transaksi valuta asing dalam jangka pendek maupun posisi banking book dalam rangka pengendalian PDN.

131








(b) Risiko Nilai Tukar (lanjutan)

(b) Exchange Rate Risk (continued)

Menurut Peraturan Bank Indonesia (PBI) No. 17/5/PBI/2015 tanggal 29 Mei 2015 perubahan keempat atas PBI No. 5/13/PBI/2003 tentang Posisi Devisa Neto Bank Umum tanggal 17 Juli 2003, PDN ditetapkan maksimum sebesar 20% dari modal, sedangkan Bank secara internal menetapkan limit posisi devisa neto per valuta asing maksimum sebesar 10% dari modal.

According to the regulation of Bank Indonesia (PBI) No. 17/5/PBI/2015 dated May 29, 2015 on fourth amendment of Bank Indonesia Regulation No. 5/13/PBI/2003 on Net Open Position of Commercial Bank dated July 17, 2003, NOP is set to a maximum of 20% of the capital, while Bank internally sets the limit of net open position for foreign exchange at maximum of 10% of the capital.

PDN Bank pada tanggal-tanggal 31 Desember 2016 dan 2015 sebagai berikut:

The NOP of the Bank as of December 31, 2016 and 2015 is as follows:

31 Desember/December 31, 2016 Mata Uang Laporan Posisi Keuangan dan Rekening Administratif*) Dolar Amerika Serikat

Aset/ Assets

Liabilitas/ Liabilities

270.734.897

Posisi Devisa Neto/ Net Open Position

4.771.558 1.966.244.530

Capital (Note 38b)

0,24%

NOP Ratio (Overall)

265.963.339

Modal (Catatan 38b)

Currencies Statement of Financial Position and Administrative Accounts*) United States Dollar

Rasio PDN (Keseluruhan) 31 Desember/December 31, 2015 Mata Uang Laporan Posisi Keuangan dan Rekening Administratif*) Dolar Amerika Serikat Yen Jepang

Aset/ Assets

Liabilitas/ Liabilities

500.334.212 5.782

Posisi Devisa Neto/ Net Open Position

59.553.077 5.782

Statement of Financial Position and Administrative Accounts*) United States Dollar Japanese Yen

59.558.859

Total

1.370.673.905

Capital (Note 38b)

4,35%

NOP Ratio (Overall)

440.781.135 -

Total Modal (Catatan 38b) Rasio PDN (Keseluruhan) *)

Merupakan penjumlahan absolut dari selisih aset dan liabilitas.

*)

Currencies

Total absolute differences between Assets and Liabilities.

The tables below demonstrated the sensitivity of the Bank’s profit or loss and other comprehensive income to reasonably possible changes in exchange rate, assuming all other variables are constant for the years ended December 31, 2016 and 2015:

Tabel di bawah ini menunjukkan sensitivitas terhadap kemungkinan perubahan atas nilai tukar terhadap laba rugi dan penghasilan komprehensif lain dengan asumsi bahwa semua variabel lain yang dimiliki adalah konstan untuk tahun yang berakhir pada tanggal-tanggal 31 Desember 2016 dan 2015:



Mata Uang Asing

+1% -1%

132

263.466 (263.466)

Foreign Currencies








(b) Risiko Nilai Tukar (lanjutan)

(b) Exchange Rate Risk (continued) The tables below demonstrated the sensitivity of the Bank’s profit or loss and other comprehensive income to reasonably possible changes in exchange rate, assuming all other variables are constant for the years ended December 31, 2016 and 2015 (continued):

Tabel di bawah ini menunjukkan sensitivitas terhadap kemungkinan perubahan atas nilai tukar terhadap laba rugi dan penghasilan komprehensif lain dengan asumsi bahwa semua variabel lain yang dimiliki adalah konstan untuk tahun yang berakhir pada tanggal-tanggal 31 Desember 2016 dan 2015 (lanjutan):



Mata Uang Asing

+1% -1%

22.617 (22.617)

Foreign Currencies

For the years ended December 31, 2016 and 2015, the effect of fluctuations in exchage rates of currency other than United States Dollar is not material.

Untuk tahun yang berakhir pada tanggaltanggal 31 Desember 2016 dan 2015, dampak atas perubahan nilai tukar dari mata uang selain Dolar Amerika Serikat tidak material. Manajemen Risiko Likuiditas

Liquidity Risk Management

Pengelolaan likuiditas Bank telah ditetapkan dalam kebijakan penerapan manajemen risiko likuiditas. Kebijakan manajemen risiko likuiditas mencakup manajemen likuiditas, penetapan strategi pendanaan, sistem peringatan dini, pengukuran dan penetapan limit risiko likuiditas termasuk pengelolaan aset likuid berkualitas tinggi dan rencana pendanaan darurat (contingency plan). Kebijakan tersebut bertujuan untuk memastikan kecukupan dana harian dalam memenuhi kewajiban pada kondisi normal maupun kondisi krisis secara tepat waktu dari berbagai sumber dana tersedia, termasuk memastikan ketersediaan aset likuid berkualitas tinggi.

Liquidity management of Bank is established in the liquidity risk management policies. Liquidity risk management policies include liquidity management, determination of funding strategy, early warning systems, measurement and determination of the liquidity risk limits, including the management of high quality liquid assets and emergency funding plan (contingency plan). The purpose of the policies is to ensure daily funds adequacy in order to meet obligations on normal conditions or crisis conditions in a timely manner from a variety of available funding sources also ensuring the availability of high quality liquid assets.

Pengendalian eksposur dan konsentrasi likuiditas, disampaikan melalui rapat Asset and Liability Committee (ALCO) dan rapat Risk Management Committee (RMC) dengan limit risiko konsentrasi 25 deposan inti, konsentrasi deposan besar, Primary Reserve, Secondary Reserve, LDR dan PDN. Potensi risiko likuiditas yang akan dihadapi Bank dimasa mendatang diukur melalui analisa Liquidity Gap Analysis dan Repricing Gap, yang merupakan proyeksi kelebihan/kekurangan likuiditas atas dasar jatuh tempo aset/liabilitas, setelah memperhitungkan kebutuhan untuk ekspansi bisnis. Informasi ini menjadi pertimbangan Bank dalam perencanaan dan pengelolaan likuiditas Bank, termasuk juga kebutuhan ekspansi bisnis Bank yang diharapkan dapat meminimalkan risiko likuiditas di Bank.

Control of exposure and liquidity concentration are delivered through the Asset and Liability Committee (ALCO) and Risk Management Committee (RMC) meetings which include risk limit concentration of 25 main customers, big customers concentration, Primary Reserve, Secondary Reserve, LDR and NOP. Future potential liquidity risk of the Bank is measured through the Liquidity Gap Analysis and Repricing Gap, which are the projection of liquidity excess/shortage of asset/liability based on their maturities, after considering the business expansion needs. These information are taken into consideration in planning and managing Bank’s liquidity, as well as the need for business expansion, which is expected to minimize liquidity risk of the Bank.

133






Manajemen Risiko Likuiditas (lanjutan)

Liquidity Risk Management (continued)

Berikut adalah tabel mengenai pemetaan aset dan liabilitas keuangan dalam skala waktu tertentu (maturity bucket) berdasarkan sisa jangka waktu sampai dengan jatuh tempo (remaining maturity) pada tanggal-tanggal 31 Desember 2016 dan 2015:

Table of financial assets and liabilities mapping in the scale of time (maturity bucket) based on the remaining maturity as of December 31, 2016 and 2015, are shown below:


Sampai dengan 1 bulan/ Up to 1 month Aset Kas Giro pada Bank Indonesia Giro pada bank lain Penempatan pada Bank Indonesia dan bank lain Efek-efek Nilai wajar melalui laporan laba rugi Tersedia untuk dijual Dimiliki hingga jatuh tempo Kredit yang diberikan Menengah Ritel Konsumer Cadangan kerugian penurunan nilai Tagihan akseptasi Penyertaan saham Aset lain-lain*) Total Liabilitas Liabilitas segera Simpanan nasabah Deposito berjangka Giro Tabungan Simpanan dari bank lain Liabilitas akseptasi Liabilitas lain-lain**) Total Perbedaan jatuh tempo

28.654.362 1.036.528.822 106.816.301

Lebih dari 1 Lebih dari 3 bulan sampai bulan sampai dengan 3 bulan/ dengan 1 tahun/ More than 1 More than 3 month up to months up to 3 months 1 year -

Lainnya yang tidak memiliki jatuh tempo/ Others without maturity


-

-

Total

-

28.654.362 1.036.528.822 106.816.301

1.116.916.250

-

-

-

-

1.116.916.250

50.625.000 -

-

712.966.500 -

4.000.000

-

50.625.000 712.966.500 4.000.000

69.104.085 60.180.294 3.064.336 33.778.955 4.504.722

246.505.285 106.705.806 1.545.921 49.560.634 -

1.421.409.089 577.864.470 23.370.996 6.399.882 -

3.650.251.937 1.329.518.514 690.233.066 297.658 10.032.846

(239.924.900 ) -

2.510.173.127

404.317.646

2.742.010.937

5.684.334.021

(239.924.900 ) 11.100.910.831

5.387.270.396 2.074.269.084 718.214.319 (239.924.900 ) 89.739.471 297.658 14.537.568

-

10.404.947

-

-

-

10.404.947

6.399.309.192 679.846.697 461.123.290 3.714.202 33.778.955 -

1.349.952.784 49.560.634 53.300

333.546.540 6.399.882 32.813.760

-

-

8.082.808.516 679.846.697 461.123.290 3.714.202 89.739.471 32.867.060

7.577.772.336

1.409.971.665

(5.067.599.209)

(1.005.654.019)

372.760.182

-

2.369.250.755

5.684.334.021

(239.924.900 )

Assets Cash Current accounts with Bank Indonesia Current accounts with other banks Placements with Bank Indonesia and other banks Securities Fair value through profit and loss Available-for-sale Held to maturity Loans Middle Retail Consumer Allowance for impairment losses Acceptances receivable Investment in shares of stocks Other assets*) Total Liabilities Liabilities due immediately Deposits from customers Time Deposits Demand deposits Saving deposits Deposits from other banks Acceptances payable Other liabilities**)

9.360.504.183

Total

1.740.406.648

Maturity gap


Sampai dengan 1 bulan/ Up to 1 month Aset Kas Giro pada Bank Indonesia Giro pada bank lain Penempatan pada Bank Indonesia dan bank lain Efek-efek Nilai wajar melalui laporan laba rugi Tersedia untuk dijual Dimiliki hingga jatuh tempo Kredit yang diberikan Menengah Ritel Kemitraan Cadangan kerugian penurunan nilai Tagihan akseptasi Penyertaan saham Aset lain-lain*) Total

*) **)

21.344.659 591.846.039 378.230.209

Lebih dari 1 Lebih dari 3 bulan sampai bulan sampai dengan 3 bulan/ dengan 1 tahun/ More than 1 More than 3 month up to months up to 3 months 1 year

-



-

-

-

Total

21.344.659 591.846.039 378.230.209

459.951.160

-

-

-

-

459.951.160

197.307.728 9.950.821

-

440.770.652 33.973.092

-

-

197.307.728 440.770.652 43.923.913

33.290.379 58.665.356 2.148.570 11.782.326 4.441.486

119.800.784 61.221.020 1.988.674 11.801.227 -

1.320.661.881 333.496.087 32.237.893 3.949.614 -

2.425.295.040 551.724.490 1.103.991.459 297.658 6.154.861

(131.831.158 ) -

3.899.048.084 1.005.106.953 1.140.366.596 (131.831.158 ) 27.533.167 297.658 10.596.347

1.768.958.733

194.811.705

2.165.089.219

4.087.463.508

(131.831.158 )

8.084.492.007

*) **)

Aset lain-lain terdiri dari piutang bunga dan piutang lain-lain Liabilitas lain-lain terdiri dari bunga yang masih harus dibayar dan setoran jaminan

134

Assets Cash Current accounts with Bank Indonesia Current accounts with other banks Placements with Bank Indonesia and other banks Securities Fair value through profit and loss Available-for-sale Held to maturity Loans Middle Retail Linkage Allowance for impairment losses Acceptances receivable Investment in shares of stocks Other assets*)

Other assets consist of interest receivables and other receivables Other liabilities consist of interest payable and guarantee deposits

Total






Manajemen Risiko Likuiditas (lanjutan)

Liquidity Risk Management (continued)

Berikut adalah tabel mengenai pemetaan aset dan liabilitas keuangan dalam skala waktu tertentu (maturity bucket) berdasarkan sisa jangka waktu sampai dengan jatuh tempo (remaining maturity) pada tanggal-tanggal 31 Desember 2016 dan 2015 (lanjutan):

Table of financial assets and liabilities mapping in the scale of time (maturity bucket) based on the remaining maturity as of December 31, 2016 and 2015, are shown below (continued):


Sampai dengan 1 bulan/ Up to 1 month Liabilitas Liabilitas segera Simpanan nasabah Deposito berjangka Giro Tabungan Simpanan dari bank lain Liabilitas akseptasi Liabilitas lain-lain**) Total Perbedaan jatuh tempo

**)

Lebih dari 1 Lebih dari 3 bulan sampai bulan sampai dengan 3 bulan/ dengan 1 tahun/ More than 1 More than 3 month up to months up to 3 months 1 year



Total

-

19.362.789

-

-

-

19.362.789

4.423.664.702 456.347.756 451.827.362 3.889.698 -

1.261.521.064 23.583.553 55.300

268.690.296 3.949.614 26.558.195

-

-

5.953.876.062 456.347.756 451.827.362 3.889.698 27.533.167 26.613.495

5.335.729.518

1.304.522.706

(3.566.770.785)

(1.109.711.001)

299.198.105

-

1.865.891.114

4.087.463.508

**)

Liabilitas lain-lain terdiri dari bunga yang masih harus dibayar dan setoran jaminan

(131.831.158 )

Liabilities Liabilities due immediately Deposits from customers Time Deposits Demand deposits Saving deposits Deposits from other banks Acceptances payable Other liabilities**)

6.939.450.329

Total

1.145.041.678

Maturity gap

Other liabilities consist of interest payable and guarantee deposits

Manajemen Risiko Operasional

Operational Risk Management

Penerapan manajemen risiko operasional dilakukan dengan pengukuran metodologi Risk Control Self Asessment (RCSA) ke masing-masing satuan kerja yang bertujuan untuk membantu mengidentifikasi, mengukur, memantau dan mengendalikan aktivitas fungsionalnya dan melakukan langkah-langkah perbaikan atau tindak lanjut ke depan. Risiko operasional yang telah teridentifikasi disebabkan dari beberapa faktor antara lain organisasi, kegagalan sistem/teknologi informasi, informasi, kesalahan manusia dan force majeure seperti bencana alam.

Operational risk management is implemented in each working unit through the Risk Control Self Asessment (RCSA) methodology, which aims to help identify, measure, monitor and control the functional activity as well as perform corrective measures or forward actions. Identified operational risks are caused by several factors, among others, the organization, system/information technology failure, information, human error and force majeure such as natural disasters.

RCSA dilaksanakan di seluruh satuan kerja dan dilaporkan secara triwulanan ke Bagian Manajemen Risiko, Divisi Kepatuhan, Manajemen Risiko dan Hukum sebagai dasar dalam penyusunan profil risiko operasional. Pengendalian risiko operasional menggunakan metodologi RCSA juga bertujuan untuk membangun kesadaran dan budaya risiko (risk awareness and risk culture) sehingga dapat meningkatkan kualitas pengendalian risiko operasional dan meminimalisasi potensi kerugian operasional.

RCSA is performed in all working units and reported quarterly to the Risk Management Section of Compliance, Risk Management and Legal Division serves as the basis for the preparation of the operational risk profile. Operational risk control using RCSA methodology also aims to build risk awareness and risk culture in order to improve the quality of operational risk control and minimize potential operational losses.

135






Manajemen Risiko Operasional (lanjutan)

Operational Risk Management (continued)

Upaya peningkatan pemahaman atas manajemen risiko difokuskan pada peningkatan budaya sadar risiko (risk awareness) dilakukan antara lain melalui pengukuran rutin setiap 3 (tiga) bulanan Manajemen Risiko Operasional (MRO) melalui Self Assessment, diadakan pelatihan-pelatihan terkait manajemen risiko terhadap seluruh pekerja Bank seperti pelatihan dalam rangka Sertifikasi Manajemen Risiko (Lembaga Sertifikasi Profesi Perbankan/LSPP atau Badan Sertifikasi Manajemen Risiko/BSMR) dan dilakukannya rapat RMC setiap 3 (tiga) bulan dengan Direksi.

Enhancing the understanding of risk management is focused on improving the risk awareness culture which is done by regular measurements every 3 (three) months by Risk Management Operations (MRO) through Self Assessment, trainings related to risks management for all Bank’s employees such as trainings within the framework of the Risk Management Certification (LSPP or BSMR) and conducting quarterly RMC with the Board of Directors.

Sosialisasi dan pelatihan dimaksud untuk mengefektifkan peran satuan kerja/risk owner sebagai first line of defense, dimana dalam tata kelola manajemen risiko memiliki tanggung jawab untuk mengidentifikasi, mengukur, memantau dan mengendalikan risiko di satuan kerjanya.

Socialization and trainings are intended to streamline the role of risk owner as the first line of defense, in which the governance of risk management has the responsibility to identify, measure, monitor and control the risks in each working unit.

Satuan Kerja Manajemen Risiko (SKMR) sebagai second line of defense bertanggung jawab dalam melakukan pengembangan dan pengimplementasian kebijakan/ prosedur dan metodologi, pengawasan, pengkajian dan melakukan pemantauan proses manajemen risiko sebagai pedoman dalam penerapan manajemen risiko.

Risk Management Working Unit (SKMR) as the second line of defense, is responsible for developing and implementing policies/ procedures and methodologies, monitoring, reviewing and monitoring the risk management process as a guide in implementing risk management.

SKMR juga melakukan pemantauan dan penilaian profil risiko Bank, mengkaji dampak risiko suatu produk dan aktivitas baru, serta mendukung satuan kerja operasional dalam mengembangkan kepedulian dan kepatuhan terhadap prinsip-prinsip manajemen risiko dimaksud. Diantaranya dengan memanfaatkan hasil penilaian terhadap konsistensi pelaksanaan proses dan kecukupan pengendalian internal dalam penerapan manajemen risiko yang dilakukan oleh Satuan Kerja Audit Internal (SKAI).

SKMR also conducts monitoring and assessment of Bank’s risk profile, examines the risk impact of a new product and activity and supports the operational working unit in developing concern and compliance of risk management principles. Among others by utilizing the assessment results on the consistency of the implementation process and the adequacy of internal controls in the risk management implementation conducted by Internal Audit (IA).

Penerapan Risk and Control Self Assessment (RCSA) di seluruh satuan kerja di Bank ditujukan untuk membantu satuan kerja sebagai first line of defense, dimana satuan kerja mengidentifikasi dan mengukur secara independen risiko operasional pada aktivitas fungsionalnya, melakukan pemantauan dan penentuan langkah-langkah perbaikan/ rencana tindak lanjut ke depan.

Implementation of Risk and Control Self Assessment (RCSA) in all working units in Bank is intended to help the working units as the first line of defense, where the unit independently identifies and quantifies operational risk in its functional activity, monitors and determines corrective measures/ plans of the next actions.

Seluruh satuan kerja operasional (risk owner) aktif terlibat dalam melakukan identifikasi, pengukuran, pemantauan dan pengendalian risiko dalam aktivitas fungsional satuan kerja.

The entire operational unit (risk owner) is actively engaged in identifying, measuring, monitoring and controlling risks in the functional activity of the working unit.

136






Manajemen Risiko Kepatuhan

Compliance Risk Management

Pengelolaan dan pengendalian risiko kepatuhan berguna untuk memitigasi risiko tidak dipatuhinya atau tidak dilaksanakannya peraturan perundangundangan dan ketentuan yang berlaku, dengan cara memastikan kepatuhan terhadap peraturan regulator, peraturan perundang-undangan dan ketentuan lain yang berlaku.

Management and control of compliance risk is useful for mitigating risk of non compliance or implementation of laws and regulations by ensuring compliance with regulations, laws and other provisions.

Manajemen Risiko Strategis

Strategic Risk Management

Pengelolaan dan pengendalian risiko strategis dilakukan dengan cara melaksanakan proses pengendalian terhadap rencana strategis dan rencana bisnis. Hal ini bertujuan untuk memantau realisasi dibandingkan dengan target yang akan dicapai dan memastikan bahwa risiko yang diambil masih dalam batas toleransi.

Management and control of strategic risk is done by implementing the strategic and business plan control process. The purpose of this process is to monitor the realization compared to the target to be achieved and ensures that the risks taken are within the limits of tolerance.

Manajemen Risiko Hukum

Legal Risk Management

Pengelolaan dan dilakukan melalui:

pengendalian

risiko

Legal risk management and control is conducted through:

hukum

(a) Peninjauan secara berkala terhadap kontrak dan perjanjian antara Bank dan pihak lain.

(a)

Periodic review of contracts and agreements between the Bank and another party.

(b) Pengembangan budaya kepatuhan dan kepedulian terhadap risiko hukum kepada seluruh pegawai pada setiap jenjang organisasi secara berkelanjutan.

(b)

Development of compliance and concern culture on legal risks to all employees at every level of the organization on an ongoing basis.

Manajemen Risiko Reputasi

Reputational Risk Management

Risiko reputasi yang disebabkan oleh adanya publikasi negatif dan informasi yang tidak tepat terkait persepsi terhadap nasabah dan keterbukaan informasi yang memadai.

Reputational risk is caused by negative publication and inaccurate information related to customer’s perception and adequate information disclosure.

Kebijakan Manajemen Risiko

Risk Management Policy

Penyempurnaan kebijakan dan pedoman penerapan manajemen risiko dalam setiap aktivitas bisnis yang dilaksanakan Bank dilakukan secara berkelanjutan untuk mengakomodasi perubahan eksposur risiko yang dikelola serta regulasi. Dalam rangka mencegah Bank sebagai sarana atau sasaran tindak pidana, khususnya pencucian uang dan pendanaan terorisme serta memenuhi regulasi dari Bank Indonesia, Bank telah mengembangkan suatu metodologi dan pendekatan yang bertujuan untuk mengelompokkan nasabah berdasarkan tingkat risiko kemungkinan terjadinya pencucian uang dan atau pendanaan terorisme (Risk Based Approach).

Improvement of risk management implementation policy and guidance in each business activity is conducted continuously to accommodate the changes of risk exposure and regulation. In preventing the criminal act, particularly for money laundring and terorism funding and to comply with BI regulation, the Bank has develop a methodology and approach to classify customers based on their risk level of money laundring and terorism funding possibility (Risk Based Approach).

137






Kebijakan Manajemen Risiko (lanjutan)

Risk Management Policy (continued)

Proses identifikasi risiko dilakukan dengan menentukan karakteristik risiko yang melekat untuk setiap nasabah dengan melakukan analisis terhadap parameter risiko, yaitu identitas nasabah, lokasi usaha, profil nasabah, kegiatan usaha, struktur kepemilikan bagi nasabah perusahaan, jumlah transaksi, dan informasi lainnya yang dapat digunakan untuk mengukur tingkat risiko nasabah. Hasil identifikasi dan pengukuran tersebut akan menghasilkan profil risiko nasabah yang wajib dilakukan tindak lanjut pemantauan dan pengendalian terhadap masing-masing profil risiko tersebut. Bank juga akan mendokumentasikan secara terpisah nasabah yang termasuk Politically Exposed Person (PEP). Proses bisnis Risk Based Approach tersebut terangkum dalam pedoman Anti Pencucian Uang (APU) dan Pencegahan Pendanaan Terorisme (PPT) Bank.

Risk identification process is perform by determining inherent risk characteristic for each customer with analysis of risk parameter, such as customer identity, business location, customer profile, business type, ownership stucture for corporate customers, amount of transaction, and other informations which can be used to measure the customer risk level. It will result a customer risk profile which should be follow up by monitoring and controlling againts each risk profile. The Bank will separately document the customer whose included to Politically Exposed Person (PEP). Risk based approach process are summarized in the Bank’s Anti Money Laundring (APU) and Terorism Funding Prevention (PPT) guidelines.

32. NILAI WAJAR KEUANGAN

ASET

DAN

LIABILITAS

32. FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES

Tabel di bawah ini menyajikan perbandingan antara nilai tercatat dan nilai wajar dari semua aset dan liabilitas keuangan. Nilai wajar yang diungkapkan adalah berdasarkan informasi relevan yang tersedia pada tanggal-tanggal 31 Desember 2016 dan 2015 dan tidak diperbaharui untuk mencerminkan perubahan dalam kondisi pasar yang telah terjadi setelah tanggal tersebut.

The table below presents the comparison between the carrying values and fair values of all financial assets and liabilities. The fair values disclosed are based on relevant information available as of December 31, 2016 and 2015 and are not updated to reflect changes in market conditions which have occurred after these dates.

31 Desember/December 31, 2016 Nilai tercatat/ Carrying value Aset Kas Giro pada Bank Indonesia Giro pada bank lain Penempatan pada Bank Indonesia dan bank lain Efek-efek Nilai wajar melalui laporan laba rugi Tersedia untuk dijual Dimiliki hingga jatuh tempo Kredit yang diberikan Tagihan akseptasi Penyertaan saham*) Aset lain-lain**) Total *) **)


Nilai wajar/ Fair value

Nilai tercatat/ Carrying value

Nilai wajar/ Fair value Assets Cash Current accounts with Bank Indonesia Current accounts with other banks Placements with Bank Indonesia and other banks Securities Fair value through profit or loss Available-for-sale

28.654.362

28.654.362

21.344.659

21.344.659

1.036.528.822

1.036.528.822

591.846.039

591.846.039

106.816.301

106.816.301

378.230.209

378.230.209

1.116.916.250

1.116.916.250

459.951.160

459.951.160

50.625.000 712.966.500

50.625.000 712.966.500

197.307.728 440.770.652

197.307.728 440.770.652

4.000.000 7.939.828.899 89.739.471

3.926.400 7.948.222.065 89.739.471

43.923.913 5.912.690.475 27.533.167

43.908.092 5.901.173.118 27.533.167

297.658 14.537.568

297.658 14.537.568

297.658 10.596.347

297.658 10.596.347

Held to maturity Loans Acceptances receivable Investment in shares of stocks*) Other assets**)

11.100.910.831

11.109.230.397

8.084.492.007

8.072.958.829

Total

Penyertaan saham yang tidak memiliki pengaruh signifikan. Aset lain-lain terdiri dari piutang bunga dan piutang lain-lain.

*) **)

138

Investment in shares of stocks with no significant influence. Other assets consist of interest receivables and other receivables.


PT BANK RAKYAT INDONESIA AGRONIAGA Tbk CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam ribuan Rupiah, kecuali dinyatakan lain) 32. NILAI WAJAR ASET KEUANGAN (lanjutan)

DAN


LIABILITAS

32. FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES (continued)

Tabel di bawah ini menyajikan perbandingan antara nilai tercatat dan nilai wajar dari semua aset dan liabilitas keuangan. Nilai wajar yang diungkapkan adalah berdasarkan informasi relevan yang tersedia pada tanggal-tanggal 31 Desember 2016 dan 2015 dan tidak diperbaharui untuk mencerminkan perubahan dalam kondisi pasar yang telah terjadi setelah tanggal tersebut (lanjutan).

The table below presents the comparison between the carrying values and fair values of all financial assets and liabilities. The fair values disclosed are based on relevant information available as of December 31, 2016 and 2015 and are not updated to reflect changes in market conditions which have occurred after these dates (continued).

31 Desember/December 31, 2016 Nilai tercatat/ Carrying value



Nilai tercatat/ Carrying value


Liabilitas Liabilitas segera Simpanan nasabah Giro Tabungan Deposito berjangka Simpanan dari bank lain Liabilitas akseptasi Liabilitas lain-lain***)

10.404.947

10.404.947

19.362.789

19.362.789

679.846.697 461.123.290 8.082.808.516 3.714.202 89.739.471 32.867.060

679.846.697 461.123.290 8.082.808.516 3.714.202 89.739.471 32.867.060

456.347.756 451.827.362 5.953.876.062 3.889.698 27.533.167 26.613.495

456.347.756 451.827.362 5.953.876.062 3.889.698 27.533.167 26.613.495

Liabilities Liabilities due immediately Deposits from customer Demand deposits Saving deposits Time deposits Deposits from other banks Acceptances payable Other liabilities***)

Total

9.360.504.183

9.360.504.183

6.939.450.329

6.939.450.329

Total

***)

Liabilitas lain-lain terdiri dari bunga yang masih harus dibayar dan setoran jaminan.

***) Other liabilities consist of interest payables and guarantee deposits.

Metode dan asumsi yang digunakan untuk perkiraan nilai wajar adalah sebagai berikut:

Methods and assumptions used to estimate fair value are as follows:

a)

Nilai wajar aset dan kewajiban keuangan tertentu, kecuali efek-efek dan kredit yang diberikan, mendekati nilai tercatatnya karena mempunyai jangka waktu jatuh tempo yang singkat.

a) The fair values of certain financial assets and liabilities, except for securities and loans approximate their carrying values due to their short-term maturities.

Estimasi nilai wajar terhadap aset keuangan tertentu ditetapkan berdasarkan diskonto arus kas dengan menggunakan suku bunga pasar uang yang berlaku untuk utang dengan risiko kredit dan sisa jatuh tempo yang serupa.

The estimated fair values of certain financial assets are determined based on discounted cash flows using money market interest rates for debts with similar credit risk and remaining maturities.

Estimasi nilai wajar terhadap liabilitas keuangan tertentu yang tidak memiliki kuotasi di pasar aktif ditetapkan berdasarkan diskonto arus kas dengan menggunakan suku bunga utang baru dengan sisa jatuh tempo yang serupa.

The estimated fair values of certain financial liabilities that do not have a quotation in an active market are determined based on discounted cash flows using interest rates of new debts with similar remaining maturities.

139


PT BANK RAKYAT INDONESIA AGRONIAGA Tbk CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam ribuan Rupiah, kecuali dinyatakan lain) 32. NILAI WAJAR ASET KEUANGAN (lanjutan) Metode dan asumsi perkiraan nilai wajar (lanjutan): b)

DAN


LIABILITAS


yang digunakan untuk adalah sebagai berikut

Methods and assumptions used to estimate fair value are as follows (continued):

b)

Efek-efek

The fair values of held-to-maturity securities are based on the market prices or broker/dealer price quotations. When this information is not available, the fair value is estimated using quoted market prices for securities with similar credit, maturity and yield characteristics or using internal valuation model.

Nilai wajar untuk efek-efek yang dimiliki hingga jatuh tempo ditetapkan berdasarkan harga pasar atau harga kuotasi perantara (broker)/pedagang efek (dealer). Jika informasi ini tidak tersedia, nilai wajar diestimasi dengan menggunakan harga pasar kuotasi efek yang memiliki karakteristik kredit, jatuh tempo dan yield yang serupa atau dinilai dengan menggunakan metode penilaian internal. c)

c)

Kredit yang diberikan

Loans Generally, the Bank’s portfolio consists of loans with floating and fixed interest rates. Loans are stated at carrying values. The fair value of loans represents the discounted amount of estimated future cash flows expected to be received by the Bank. The estimated future cash flows is discounted using the current market rates to determine its fair value.

Portofolio kredit Bank secara umum terdiri dari kredit yang diberikan dengan suku bunga mengambang dan suku bunga tetap. Kredit yang diberikan dinyatakan berdasarkan jumlah nilai tercatat. Nilai wajar dari kredit yang diberikan menunjukkan nilai diskon dari perkiraan arus kas masa depan yang diharapkan akan diterima oleh Bank. Perkiraan arus kas ini didiskontokan dengan menggunakan suku bunga pasar untuk menentukan nilai wajar. d)

Securities

d)

Liabilitas segera, simpanan dari nasabah dan simpanan dari bank lain, liabilitas akseptasi dan liabilitas lain-lain

Liabilities due immediately, deposits from customers and deposits from other banks, acceptances payable and other liabilities

Estimasi nilai wajar liabilitas segera, simpanan tanpa jatuh tempo, termasuk simpanan tanpa bunga adalah sebesar jumlah yang harus dibayarkan kembali sewaktu-waktu.

The estimated fair values of liabilities due immediately, deposits with no maturity, including non-interest bearing deposits, are repayable on demand.

Estimasi nilai wajar terhadap simpanan dengan tingkat suku bunga tetap, liabilitas akseptasi dan liabilitas lain-lain ditetapkan berdasarkan diskonto arus kas dengan menggunakan suku bunga utang baru dengan sisa jatuh tempo yang serupa. Karena sisa jatuh tempo dibawah satu tahun sehingga nilai tercatat dari simpanan dengan suku bunga tetap, liabilitas akseptasi dan liabilitas lain-lain adalah perkiraan yang layak atas nilai wajar.

The estimated fair values of fixed interest bearing deposits, acceptances payable and other liabilities are based on discounted cash flows using interest rates for new debts with similar remaining maturity. Since the remaining maturity is below one year, the carrying value of fixed interest bearing deposits, acceptances payable and other liabilities are the reasonable approximation of their fair values.

140


PT BANK RAKYAT INDONESIA AGRONIAGA Tbk CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam ribuan Rupiah, kecuali dinyatakan lain) 32. NILAI WAJAR ASET KEUANGAN (lanjutan)

LIABILITAS


Tabel di bawah ini menyajikan instrumen keuangan yang diakui pada nilai wajar berdasarkan hirarki yang digunakan Bank untuk menentukan dan mengungkapkan nilai wajar dari instrumen keuangan:

The following table presents financial instruments measured at fair value based on the hierarchy used by the Bank to determine and disclose the fair value of financial instruments:

a)

a)

b)

c)

DAN


Tingkat 1: dikutip dari harga pasar aktif untuk aset atau liabilitas keuangan yang identik; Tingkat 2: yang melibatkan input selain dari harga pasar aktif yang dikutip yang termasuk dalam tingkat 1 yang dapat diobservasi untuk aset dan liabilitas, baik secara langsung (seperti harga) atau tidak langsung (turunan dari harga); Tingkat 3: input untuk aset dan liabilitas yang tidak didasarkan pada data yang dapat diobservasi di pasar (input yang tidak dapat diobservasi).

b)

c)

Level 1: quoted from active market price for identical financial asset or liability; Level 2: involves input other than quoted active market price classified in level 1 which are observable for asset and liability, directly (price) or indirectly (derivative of price);

Level 3: input for asset and liability which are not based on observable market data (unobservable input).

31 Desember/December 31, 2016 Nilai Wajar/ Fair Value Aset yang diukur sebesar nilai wajar Efek-efek Nilai wajar melalui laporan laba rugi Tersedia untuk dijual Aset yang disajikan sebesar nilai wajar Efek-efek Dimiliki hingga jatuh tempo Kredit yang diberikan

Tingkat/ Level 1

Tingkat/ Level 2

Tingkat/ Level 3

Asset measured at fair value Securities 50.625.000 712.966.500

3.926.400 7.948.222.065

50.625.000 712.966.500

3.926.400 -

-

7.658.462.132

-

289.759.933

Fair value through profit or loss Available-for-sale Assets for which fair value are disclosed Securities Held to maturity Loans

31 Desember/December 31, 2015 Nilai Wajar/ Fair Value Aset yang diukur sebesar nilai wajar Efek-efek Nilai wajar melalui laporan laba rugi Tersedia untuk dijual Aset yang disajikan sebesar nilai wajar Efek-efek Dimiliki hingga jatuh tempo Kredit yang diberikan

Tingkat/ Level 1

Tingkat/ Level 2

Tingkat/ Level 3

Asset measured at fair value Securities 197.307.728 440.770.652

43.908.092 5.901.173.118

197.307.728 440.770.652

43.908.092 -

141

-

5.653.366.107

-

247.807.011

Fair value through profit or loss Available-for-sale Assets for which fair value are disclosed Securities Held to maturity Loans


PT BANK RAKYAT INDONESIA AGRONIAGA Tbk CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam ribuan Rupiah, kecuali dinyatakan lain) 33. INFORMASI MENGENAI KONTINJENSI

KOMITMEN


DAN

33. INFORMATION ON CONTINGENCIES

COMMITMENTS

AND


Komitmen Liabilitas komitmen Rupiah Fasilitas kredit yang diberikan kepada debitur yang belum digunakan L/C yang tidak dapat dibatalkan yang masih berjalan dalam rangka impor

Dolar Amerika Serikat Fasilitas kredit yang diberikan kepada debitur yang belum digunakan L/C yang tidak dapat dibatalkan yang masih berjalan dalam rangka impor

Komitmen - neto

Commitments Commitment liabilities Rupiah (839.959.890)

(807.723.105)

Unused loan facilities

(3.450.000)

(16.554.023)

Irrevocable letters of credit

(843.409.890)

(824.277.128)

United States Dollar (33.783.794)

(41.218.901)

Unused loan facilities

(27.460.538)

(27.233.301)

Irrevocable letters of credit

(61.244.332)

(68.452.202)

(904.654.222)

(892.729.330)

Commitments - net

Kontinjensi Liabilitas kontinjensi Rupiah Garansi bank yang diterbitkan

(5.490.242)

(9.943.984)

Contingencies Contingent liabilities Rupiah Guarantees issued

Kontinjensi - neto

(5.490.242)

(9.943.984)

Contingencies - net

Transaksi kepada pihak berelasi disajikan pada Catatan 30.

Transactions with related parties is presented in Note 30.

Pada tanggal-tanggal 31 Desember 2016 dan 2015, kolektibilitas komitmen dan kontinjensi pada rekening administratif yang mempunyai risiko kredit adalah Lancar.

As of December 31, 2016 and 2015, the collectibility of commitments and contingencies with credit risks on administrative accounts is Current.

Manajemen berpendapat bahwa jumlah cadangan kerugian penurunan nilai tidak diperlukan pada tanggal-tanggal 31 Desember 2016 dan 2015, karena manajemen berkeyakinan bahwa komitmen dan kontinjensi dapat tertagih.

Management believes that the allowance for impairment losses is not necessary as of December 31, 2016 and 2015, because management believes that commitments and contingencies are fully collectible.

142




34. SEGMEN OPERASI

34. OPERATION SEGMENT

Berikut ini adalah informasi berdasarkan segmen operasi:

segmen

Information concerning the operating segments of the Bank are as follows:

Bank

Tanggal 31 Desember 2016 dan untuk Tahun yang Berakhir pada tanggal tersebut/ As of December 31, 2016 and for the Year Then Ended

Keterangan Pendapatan bunga Beban bunga Pendapatan bunga-neto Pendapatan operasi lainnya Total pendapatan

Konsumer/ Consumer

Ritel/ Retail

Menengah/ Middle

Lainnya/ Others

Total

Description

114.534.296 (86.165.822 )

211.555.718 (81.736.921 )

568.320.406 (322.711.101 )

70.674.840 (52.799.280)

965.085.260 (543.413.124)

Interest income Interest expense

28.368.474

129.818.797

245.609.305

17.875.560

421.672.136

Interest income - net

1.227.619

8.035.294

18.167.700

43.263.454

70.694.067

Other operating income

29.596.093

137.854.091

263.777.005

61.139.014

492.366.203

Beban operasi lainnya Penyisihan kerugian penurunan nilai

(14.565.312 )

(41.787.186 )

(109.661.490 )

(62.654.770)

(228.668.758)

(5.545.616 )

(50.586.157 )

(94.058.849 )

15.000.000

(135.190.622)

Total beban Pendapatan non-operasional - neto

(20.110.928 )

(92.373.343 )

(203.720.339 )

(47.654.770)

(363.859.380)

277.125

411.572

546.019

11.523.973

12.758.689

25.008.217

141.265.512

Total income Other operating expenses Provision for impairment losses Total expenses Non operating income - net

Laba sebelum beban pajak penghasilan Beban pajak penghasilan - neto

9.762.290

45.892.320

60.602.685

(2.644.157 )

(12.430.129 )

(16.414.493 )

(6.773.581)

(38.262.360)

Income before income tax expense Income tax expense - net

Laba tahun berjalan

7.118.133

33.462.191

44.188.192

18.234.636

103.003.152

lncome for the year

697.427.256 27.304.657

2.000.885.599 78.335.760

5.241.516.044 214.953.555

3.117.537.850

7.939.828.899 3.438.131.822

724.731.913

2.079.221.359

5.456.469.599

3.117.537.850

11.377.960.721

1.636.000.761 10.613.236

1.429.679.105 30.448.868

5.215.295.289 79.763.796

942.803.348 97.104.778

9.223.778.503 217.930.678

1.646.613.997

1.460.127.973

5.295.059.085

1.039.908.126

9.441.709.181

Aset Segmen Kredit Non kredit

Liabilitas Segmen Pendanaan Non pendanaan

Segment of Assets Loans Non loans

Segment of Liabilities Funding Non funding

Tanggal 31 Desember 2015 dan untuk Tahun yang Berakhir pada tanggal tersebut/ As of December 31, 2015 and for the Year Then Ended

Keterangan Pendapatan bunga Beban bunga Pendapatan bunga-neto Pendapatan operasi lainnya Total pendapatan

Beban operasi lainnya Penyisihan kerugian penurunan nilai Total beban Pendapatan non-operasional - neto Laba sebelum beban pajak penghasilan Beban pajak penghasilan - neto Laba tahun berjalan Aset Segmen Kredit Non kredit

Liabilitas Segmen Pendanaan Non pendanaan

Kemitraan/ Linkage

Ritel/ Retail

Menengah/ Middle

Lainnya/ Others

Total

Description

129.036.340 (49.982.570 )

164.477.726 (98.819.962 )

437.089.604 (254.904.241 )

56.105.892 (27.231.656)

786.709.562 (430.938.429)

Interest income Interest expense

79.053.770

65.657.764

182.185.363

28.874.236

355.771.133

Interest income - net

1.070.468

6.898.734

5.688.652

41.573.831

55.231.685

Other operating income

80.124.238

72.556.498

187.874.015

70.448.067

411.002.818

(29.324.301 )

(25.185.804 )

(101.046.521 )

(22.111.359 )

(29.009.203 )

(52.990.082 )

(51.435.660 )

(54.195.007 )

(154.036.603 )

2.148.459

1.845.250

30.837.037

20.206.741

(55.641.414)

-

(211.198.040)

(104.110.644)

(55.641.414)

(315.308.684)

7.352.125

3.755.300

15.101.134

41.189.537

18.561.953

110.795.268

Total income Other operating expenses Provision for impairment losses Total expenses Non operating income - net Income before income tax expense Income tax expense - net

(8.434.175 )

(5.526.705 )

(11.265.666 )

(5.076.842)

(30.303.388)

22.402.862

14.680.036

29.923.871

13.485.111

80.491.880

lncome for the year

1.119.633.187 41.756.377

961.620.898 35.863.357

3.831.436.390 170.513.064

2.203.679.290

5.912.690.475 2.451.812.088

Segment of Assets Loans Non loans

1.161.389.564

997.484.255

4.001.949.454

2.203.679.290

8.364.502.563

1.040.109.723 15.877.395

1.565.156.523 13.636.640

4.006.923.767 54.333.179

249.861.167 66.191.744

6.862.051.180 150.038.958

1.055.987.118

1.578.793.163

4.061.256.946

316.052.911

7.012.090.138

143

Segment of Liabilities Funding Non funding




34. SEGMEN OPERASI (lanjutan) Berikut ini adalah informasi berdasarkan segmen geografis:

34. OPERATION SEGMENT (continued) segmen

Segment information based segment are as follows:

Bank

on

geographical

a. Net interest income and other operating income

a. Pendapatan bunga neto dan operasi lainnya


Jabodetabek Jawa Sumatera Kalimantan Sulawesi

290.133.744 65.251.705 97.442.199 33.846.106 5.692.449

223.100.458 50.311.952 108.570.417 24.208.153 4.811.838

Jabodetabek Java Sumatera Borneo Sulawesi

Total

492.366.203

411.002.818

Total

b. Income before income tax expense

b. Laba sebelum beban pajak penghasilan



127.129.656 29.756.179 (23.694.502) 20.613.363 (12.539.184)

Total

141.265.512

73.272.922 (8.701.836) 30.169.097 14.402.813 1.652.272 110.795.268

Jabodetabek Java Sumatera Borneo Sulawesi Total

c. Total Assets

c. Total Aset


Jabodetabek Jawa Sumatera Kalimantan Sulawesi Total

7.545.055.783 1.439.275.140 1.312.445.136 949.735.173 131.449.489

5.515.995.881 919.038.850 1.208.305.923 611.035.660 110.126.249


11.377.960.721

8.364.502.563

Total

d. Total Liabilities

d. Total Liabilitas



7.343.306.811 793.350.197 1.150.328.883 79.197.313 75.525.977

4.954.900.732 885.228.634 1.092.468.427 47.745.033 31.747.312


Total

9.441.709.181

7.012.090.138

Total

144




35. PERJANJIAN, KOMITMEN DAN KONTINJENSI SIGNIFIKAN

35. SIGNIFICANT AGREEMENTS, COMMITMENTS AND CONTINGENCIES

Liabilitas kontinjensi

Contingent liabilities

Dalam melakukan usahanya, Bank menghadapi berbagai perkara hukum dan tuntutan dimana Bank sebagai tergugat, terutama sehubungan dengan kepatuhan dengan kontrak. Walaupun belum ada kepastian yang jelas, Bank berpendapat bahwa berdasarkan informasi yang ada dan keputusan terakhir dari perkara bahwa tuntutan hukum ini tidak akan berdampak secara material pada operasi, posisi keuangan atau tingkat likuiditas Bank.

In the conduct of its business, the Bank is a defendant in various litigation proceedings and legal claims mainly with respect to matters of contractual compliance. Although there is no clear assurance yet, the Bank believes that based on information currently available, the ultimate resolution of these legal proceedings and legal claims will not likely to have a material effect on the operations, financial position or liquidity level of the Bank.

Pada tanggal-tanggal 31 Desember 2016 dan 2015, Bank telah membentuk cadangan (disajikan dalam akun “Liabilitas Lain-lain”) untuk sejumlah tuntutan hukum yang belum diputuskan sebesar Rp6.820.638 dan Rp7.651.265 (Catatan 21). Manajemen berpendapat bahwa jumlah cadangan yang dibentuk atas kemungkinan timbulnya kerugian akibat tuntutan hukum yang belum diputuskan atau masih dalam proses tersebut telah memadai.

As of December 31, 2016 and 2015, the Bank has established an provision (included in “Other Liabilities”) for several pending lawsuits filed against the Bank amounted to Rp6,820,638 and Rp7,651,265 (Note 21). Management believes that the provision is adequate to cover possible losses arising from pending litigations or legal claims that are currently in progress.

36. JAMINAN PEMERINTAH TERHADAP KEWAJIBAN PEMBAYARAN BANK UMUM

36. GOVERNMENT GUARANTEE ON OBLIGATIONS OF COMMERCIAL BANKS

Berdasarkan Keputusan Presiden No. 26 Tahun 1998 yang dilaksanakan melalui Keputusan Menteri Keuangan tanggal 28 Januari 1998 dan Surat Keputusan Bersama Direksi Bank Indonesia dan Ketua BPPN (SKB BI dan BPPN) No. 30/270/KEP/DIR dan No. 1/BPPN/1998 tanggal 6 Maret 1998, Pemerintah telah menjamin kewajiban tertentu dari seluruh bank umum yang berbadan hukum Indonesia.

Based on Presidential Decision No. 26 Year 1998 as implemented by the Decision of the Ministry of Finance dated January 28, 1998 and the Joint Decrees No. 30/270/KEP/DIR and No. 1/BPPN/1998 dated March 6, 1998, of the Director of Bank Indonesia and Head of IBRA, the Government provided a guarantee on certain obligations of all locally incorporated commercial banks.

Berdasarkan perubahan terakhir yang terdapat pada Keputusan Menteri Keuangan No. 179/KMK.017/2000 tanggal 26 Mei 2000, jaminan tersebut berlaku sejak tanggal 26 Januari 1998 sampai dengan 31 Januari 2001 dan dapat diperpanjang dengan sendirinya setiap 6 (enam) bulan berikutnya secara terus-menerus, kecuali apabila dalam waktu 6 (enam) bulan sebelum berakhirnya jangka waktu Program Penjaminan atau jangka waktu perpanjangannya, Menteri Keuangan mengumumkan pengakhiran dan atau perubahan Program Penjaminan tersebut untuk diketahui oleh umum. Atas penjaminan ini, Pemerintah membebankan premi yang dihitung berdasarkan persentase tertentu sesuai ketentuan yang berlaku.

Based on the latest amendment under the Ministry of Finance Decision No. 179/KMK.017/2000 dated May 26, 2000, this guarantee is valid from January 26, 1998 up to January 31, 2001 and with automatic extension of the guarantee period continuously every 6 (six) months, unless within 6 (six) months before the maturity of the guarantee period or its extension period, the Ministry of Finance announced to the public the expiry and/or change in the guarantee program. For this guarantee, the Government charges premium which is computed based on a certain percentage in accordance with the prevailing regulations.

145


PT BANK RAKYAT INDONESIA AGRONIAGA Tbk CATATAN ATAS LAPORAN KEUANGAN Tanggal 31 Desember 2016 dan untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam ribuan Rupiah, kecuali dinyatakan lain) 36. JAMINAN KEWAJIBAN (lanjutan)

PEMERINTAH PEMBAYARAN


TERHADAP BANK UMUM

36. GOVERNMENT GUARANTEE ON OBLIGATIONS OF COMMERCIAL BANKS (continued)

Sesuai dengan Peraturan Menteri Keuangan No. 17/PMK.05/2005 tanggal 3 Maret 2005, terhitung sejak tanggal 18 April 2005 jenis kewajiban bank umum yang dijamin berdasarkan Program Penjaminan Pemerintah meliputi giro, tabungan, deposito berjangka dan pinjaman yang diterima dari bank lain dalam bentuk transaksi pasar uang antar bank.

In accordance with Regulation No. 17/PMK.05/2005 dated March 3, 2005 of the Ministry of Finance, starting April 18, 2005, commercial bank obligations guaranteed by the Government Guarantee Program include demand deposits, saving deposits, time deposits and fund borrowings from other banks in the form of inter-bank money market transactions.

Program Penjaminan Pemerintah melalui UP3 telah berakhir pada tanggal 22 September 2005, sebagaimana dinyatakan dalam Peraturan Menteri Keuangan No. 68/PMK.05/2005 tanggal 10 Agustus 2005 tentang “Perhitungan dan Pembayaran Premi Program Penjaminan Pemerintah terhadap Kewajiban Pembayaran Bank Umum” untuk periode 1 Juli sampai dengan 21 September 2005. Sebagai pengganti UP3, Pemerintah telah membentuk lembaga independen yaitu Lembaga Penjamin Simpanan (LPS) berdasarkan Undang-undang No. 24 Tahun 2004 tanggal 22 September 2004 tentang “Lembaga Penjamin Simpanan”, dimana LPS menjamin dana masyarakat termasuk dana dari bank lain dalam bentuk giro, deposito, sertifikat deposito, tabungan dan/atau bentuk lainnya yang dipersamakan dengan itu.

The Government Guarantee Program through UP3 ended on September 22, 2005 based on Regulation No. 68/PMK.05/2005 dated August 10, 2005 of the Ministry of Finance regarding the “Calculation and Payment of the Premium on Government Guarantee Program on the Payment of Obligations of Commercial Banks” for the period of July 1 up to September 21, 2005. The Government established the Indonesia Deposit Insurance Corporation (LPS), an independent agency, to replace UP3 based on Law No. 24 of 2004 dated September 22, 2004 regarding “Deposit Insurance Corporation”, in which LPS guarantees public funds including funds from other banks in the form of demand deposits, time deposits, certificates of deposits, saving deposits and/or other similar forms.

Berdasarkan salinan Peraturan LPS No. 1/PLPS/2006 tanggal 9 Maret 2006 tentang “Program Penjaminan Simpanan” diatur besarnya saldo yang dijamin untuk setiap nasabah pada satu bank adalah paling tinggi sebesar Rp100 juta (angka penuh).

Based on LPS regulation No. 1/PLPS/2006 dated March 9, 2006 regarding “Government Guarantee Program on Saving Account”, the balance of saving accounts guaranteed for each customer is at a maximum of Rp100 million (full amount).

Sesuai dengan Peraturan Pemerintah No. 66 Tahun 2008 tanggal 13 Oktober 2008 tentang “Besaran Nilai Simpanan yang Dijamin Lembaga Penjamin Simpanan” maka nilai simpanan setiap nasabah pada satu bank yang dijamin oleh Pemerintah naik menjadi sebesar Rp2 miliar (angka penuh) dari semula Rp100 juta (angka penuh), efektif sejak tanggal tersebut di atas.

In accordance with Government Regulation No. 66 Year 2008, dated October 13, 2008 regarding “The Amount of Public Savings Guaranteed by the Indonesia Deposit Insurance Corporation”, the total amount of customers’ saving accounts in banks which is guaranteed by the Government has increased to Rp2 billion (full amount), from the previous Rp100 million (full amount), effective on the date stated above.

Suku bunga penjaminan LPS pada tanggal 31 Desember 2016 dan 2015 adalah masingmasing sebesar 6,25% dan 7,5% untuk simpanan dalam mata uang Rupiah, dan masing-masing sebesar 0,75% dan 1,25% untuk simpanan dalam mata uang asing.

LPS interest rates guarantee as of December 31, 2016 and 2015 were 6.25% and 7.5%, respectively, for deposits in Rupiah and 0.75% and 1.25%, respectively, for deposits in foreign currencies.

146




37. PERNYATAAN STANDAR AKUNTANSI KEUANGAN (PSAK) DAN INTERPRETASI STANDAR AKUNTANSI KEUANGAN (ISAK) YANG DIKELUARKAN DAN DIREVISI

37. ISSUED AND REVISED STATEMENTS OF FINANCIAL ACCOUNTING STANDARDS (SFAS) AND INTERPRETATION OF FINANCIAL ACCOUNTING STANDARDS (IFAS)

Berikut ini ikhtisar PSAK dan ISAK yang diterbitkan oleh Dewan Standar Akuntansi Keuangan (DSAK) IAI yang relevan untuk Bank, namun belum berlaku efektif untuk laporan keuangan pada tanggal 31 Desember 2016:

The following summarizes the SFAS and the IFAS which were issued by the Financial Accounting Standards Board (FASB) are relevant to the Bank, but not yet effective to the Bank on financial statements as of December 31, 2016:

Efektif berlaku pada atau setelah tanggal 1 Januari 2017:

Effective on or after January 1, 2017:

a.

Amandemen PSAK No. 1, “Penyajian Laporan Keuangan tentang Prakarsa Pengungkapan”, memberikan klarifikasi terkait penerapan persyaratan materialitas, fleksibilitas urutan sistematis catatan atas laporan keuangan dan pengidentifikasian kebijakan akuntansi signifikan. Amandemen PSAK No. 1 ini juga mengakibatkan amandemen terhadap PSAK (consequential amendment) sebagai berikut: PSAK No. 3 “Laporan Keuangan Interim”, PSAK No. 5 “Segmen Operasi”, PSAK No. 60 “Instrumen Keuangan: Pengungkapan”, dan PSAK No. 62 “Kontrak Asuransi”.

a.

Amendment SFAS 1, “Presentation of Financial Statements on Disclosures Initiative”, have given clarification regarding materiality, systematic hierarchy flexibility of notes to financial statements and identification of significant accounting policy. Amendment SFAS 1 have impacted other SFAS (consequential amendment) such as: SFAS 3 “Interim Financial Reporting”, SFAS 5 “Operating Segments”, SFAS 60 “Financial Instruments: Disclosures”, and SFAS 62 “Insurance Contract”.

b.

ISAK No. 31, “Interpretasi atas Ruang Lingkup PSAK No. 13: Properti Investasi”, merupakan interpretasi atas karakteristik bangunan yang digunakan sebagai bagian dari definisi properti investasi dalam PSAK No. 13 “Properti Investasi”. Bangunan sebagaimana dimaksud dalam definisi properti investasi mengacu pada struktur yang memiliki karakteristik fisik yang umumnya diasoasiasikan dengan suatu bangunan yang mengacu pada adanya dinding, lantai, dan atap yang melekat pada aset.

b.

IFAS 31, “Interpretation of SFAS 13: Investment Property”, an interpretation of the characteristics of the building that is used as part of the definition of investment property under SFAS No. 13 “Investment Property”. The building referred to in the definition of investment property refers to structures that have physical characteristics that are generally associated with a building which refers to the presence of walls, floors, and roofs are attached to the asset .

The Bank is presently evaluating and has not yet determined the effects of these issued and revised SFAS and IFAS on its financial statements.

Saat ini, Bank sedang mengevaluasi dan belum menetapkan dampak dari PSAK dan ISAK yang direvisi tersebut terhadap laporan keuangannya.

38. INFORMASI TAMBAHAN a.

38. OTHER DISCLOSURES

Manajemen Modal

a.

Capital Management The Bank’s capital management objective is to maintain a strong capital position to support business growth and to sustain investor, depositor, customer and market confidence.

Tujuan manajemen permodalan Bank adalah untuk mempertahankan posisi modal yang kuat untuk mendukung pertumbuhan bisnis dan mempertahankan investor, deposan, pelanggan dan kepercayaan pasar.

147




38. INFORMASI TAMBAHAN (lanjutan) a.

38. OTHER DISCLOSURES (continued)

Manajemen Modal (lanjutan)

a.

In managing its capital, the Bank considers factors such as: an optimal capital rate of return to shareholders and maintain a balance between high return and safety provided by a sound capital position.

Dalam pengelolaan permodalan, Bank mempertimbangkan faktor-faktor seperti: pengembalian modal yang optimal pada pemegang saham dan menjaga keseimbangan antara keuntungan yang lebih tinggi dan keamanan yang diberikan oleh posisi modal yang sehat. b.

Rasio Kewajiban Minimum (CAR)

Penyediaan

Capital Management (continued)

Modal

b.

Capital Adequacy Ratio (CAR)

Bank secara aktif mengelola modalnya sesuai dengan peraturan yang berlaku. Tujuan utamanya adalah untuk memastikan bahwa setiap saat Bank dapat menjaga kecukupan modalnya untuk menutup risiko bawaan (inherent risk) pada kegiatan perbankan tanpa mengurangi optimalisasi nilai pemegang saham.

Bank actively manages its capital in accordance with the regulatory requirements. The primary objective is to ensure that Bank, at all the times, maintains adequate capital to cover inherent risks to its banking activities without prejudice to optimizing shareholder’s value.

CAR pada tanggal 31 Desember 2016 dihitung berdasarkan Peraturan Otoritas Jasa Keuangan (POJK) No. 34/POJK.03/2016 tentang Perubahan atas Peraturan Otoritas Jasa Keuangan No. 11/POJK.03/2016 tentang Kewajiban Penyediaan Modal Minimum Bank Umum dan 31 Desember 2015 dihitung berdasarkan Peraturan Bank Indonesia (PBI) No. 15/12/PBI/2013 tentang Kewajiban Penyediaan Modal Minimum Bank Umum dimana modal untuk risiko kredit terdiri dari modal inti (modal inti utama/Common Equity Tier 1 dan modal inti tambahan) dan modal pelengkap.

CAR on December 31, 2016 was calculated based on Otoritas Jasa Keuangan Regulation (POJK) No. 34/POJK.03/2016 regarding Amendment to Otoritas Jasa Keuangan Regulation No. 11/POJK.03/2016 on Minimum Capital Requirement for Commercial Banks and December 31, 2015 was calculated based on Bank Indonesia Regulation (PBI) No. 15/12/PBI/2013 regarding the Minimum Capital Requirement for Commercial Banks where capital for credit risk consist of core capital (Common Equity Tier 1 and additional Tier 1) and supplementary capital.

Sejak tanggal 24 Agustus 2015, Bank telah menerapkan Peraturan Otoritas Jasa Keuangan (POJK) No. 11/POJK.03/2015 tentang Ketentuan Kehati-hatian Dalam Rangka Stimulus Perekonomian Nasional Bagi Bank Umum, dimana ditetapkan bahwa bobot risiko kredit beragunan rumah tinggal paling rendah sebesar 35% untuk kredit konsumsi dalam rangka kepemilikan rumah tinggal (KPR) atau apartemen (KPA) atau kredit konsumsi dengan agunan berupa rumah tinggal atau apartemen dengan syarat tertentu, atau paling rendah sebesar 20% untuk KPR yang merupakan program Pemerintah Indonesia dengan syarat tertentu. Selain itu, bobot risiko kredit kepada UMKM yang dijamin oleh lembaga penjaminan atau asuransi kredit berstatus BUMD ditetapkan sebesar 50% sepanjang memenuhi persyaratan yang ditetapkan.

Since August 24, 2015, the Bank has implemented Regulation of the Financial Services Authority (POJK) No. 11/POJK.03/ 2015 regarding Prudential Provisions in the Framework of the National Economic Stimulus for Commercial Banks, which stipulates that the weight of risk for loans collateralized by houses is minimum of 35% for consumer loans related with the mortgage of house (KPR) or an apartment (KPA) or consumer loan with collateral such as house or apartment with certain conditions, or is minimum of 20% for a mortgage which is the Government of Indonesia program with certain conditions. In addition, the risk weight of credit to Small Medium Enterprise (SME) guaranteed by a guarantee institution or regional owned enterprise credit insurance is set at 50% as long as it is fulfilling the requirements.

148




38. INFORMASI TAMBAHAN (lanjutan) b.


Rasio Kewajiban Penyediaan Minimum (CAR) (lanjutan)

Modal

b.

Capital Adequacy Ratio (CAR) (continued)

Berdasarkan profil risiko Bank per 30 Juni 2016 dan 2015 yaitu fair, maka CAR minimum per 31 Desember 2016 dan 2015 masing-masing ditetapkan sebesar paling rendah 10% sampai dengan kurang dari 11%.

Based on the Bank’s risk profile as of June 30, 2016 and 2015 that is fair, the minimum CAR as of December 31, 2016 and 2015 shoud be at least 10% to less than 11%, respectively.

Penentuan kepatuhan Bank terhadap peraturan dan rasio yang berlaku didasarkan pada peraturan praktik akuntansi yang berbeda dalam beberapa hal dengan Standar Akuntansi Keuangan di Indonesia. Pada tanggal-tanggal 31 Desember 2016 dan 2015, Bank telah memenuhi rasio sesuai yang disyaratkan BI untuk rasio kecukupan modal.

The determination of Bank’s compliance with regulatory and ratios requirements is based on the regulatory accounting practices which differ from Indonesian Financial Accounting Standards in some aspects. As of December 31, 2016 and 2015, the Bank has complied with the BI’s requirements regarding the capital adequacy ratio.

Perhitungan CAR Bank pada tanggal-tanggal 31 Desember 2016 dan 2015 adalah sebagai berikut:

The computation of the Bank’s CAR as of December 31, 2016 and 2015 are as follows:


Modal Modal Inti (Tier 1) Modal Inti Utama (CET-1) Modal Inti Tambahan (AT-1) Total Modal Inti (Tier 1) Modal Pelengkap (Tier 2) Total Modal

1.878.376.850 -

1.302.600.252 -

1.878.376.850 87.867.680

1.302.600.252 68.073.653

1.966.244.530

1.370.673.905

Capital Core Capital (Tier 1) Common Equity (CET 1) Additional Tier (AT-1) Total Core Capital (Tier 1) Supplementary Capital (Tier 2) Total Capital

Aset Tertimbang Menurut Risiko (ATMR) ATMR untuk Risiko Kredit setelah memperhitungkan Risiko Spesifik*) ATMR untuk Risiko Pasar**) ATMR untuk Risiko Operasional***)

7.714.200.550 37.078.750 552.460.079

5.574.072.800 171.476.396 451.318.253

Total ATMR

8.303.739.379

6.196.867.449

Total RWA

22,62% 22,62% 1,06% 23,68%

21,02% 21,02% 1,10% 22,12%

CAR Ratio CET 1 Ratio Tier 1 Ratio Tier 2 Ratio Total Ratio

4,5% 6,0%

4,5% 6,0%

10,0%

10,0%

Rasio CAR Rasio CET 1 Rasio Tier 1 Rasio Tier 2 Rasio Total Rasio Minimum CET 1 Rasio Minimum Tier 1 CAR Minimum Berdasarkan Profil Risiko

*) **) ***)

Risk Weighted Assets (RWA)

Risiko kredit dihitung berdasarkan SE OJK No. 42/SEOJK.03/2016 tanggal 28 September 2016. Risiko pasar dihitung berdasarkan SE OJK No. 38/SEOJK.03/2016 tanggal 8 September 2016. Risiko operasional dihitung berdasarkan SE OJK No. 24/SEOJK.03/2016 tanggal 14 Juli 2016.

*) **) ***)

149

RWA for Credit Risk after considering Specific Risk*) RWA for Market Risk**) RWA for Operational Risk***)

CET 1 Minimum Ratio Tier 1 Minimum Ratio Minimum CAR Based on Risk Profile

Credit risk is calculated based on OJK’s Circular Letter No. 42/SEOJK.03/2016 dated September 28, 2016. Market risk is calculated based on OJK’s Circular Letter No. 38/SEOJK.03/2016 dated September 8, 2016. Operational risk is calculated based on OJK’s Circular Letter No. 24/SEOJK.03/2016 dated July 14, 2016.




38. INFORMASI TAMBAHAN (lanjutan) c.


Program Pensiun Iuran Pasti

c.

Defined Contribution Pension Plan The Bank defined contribution pension plan for all of its permanent employees managed by Dana Pensiun Lembaga Keuangan (DPLK) PT Bank Negara Indonesia (Persero) Tbk. The Bank’s contribution for pension plan is 87.8% of predetermined contribution based on the level of each employee, which presented as part of “Salaries and Allowances” in the statement of profit or loss and other comprehensive income amounted to Rp695,844 and Rp652,878 for the years ended December 31, 2016 and 2015, respectively (Note 26).

Bank menyelenggarakan program pensiun iuran pasti untuk seluruh karyawan tetapnya yang dikelola oleh Dana Pensiun Lembaga Keuangan (DPLK) PT Bank Negara Indonesia (Persero) Tbk. Jumlah kontribusi Bank untuk dana pensiun adalah sebesar 87,8% dari iuran yang sudah ditetapkan berdasarkan tingkat dari masing-masing karyawan yang disajikan sebagai bagian dari “Beban Gaji dan Tunjangan” dalam laporan laba rugi dan penghasilan komprehensif lain, sebesar Rp695.844 dan Rp652.878 masing-masing untuk tahun yang berakhir pada tanggaltanggal 31 Desember 2016 dan 2015 (Catatan 26).

39. PENYELESAIAN LAPORAN KEUANGAN

39. COMPLETION STATEMENTS

OF

THE

FINANCIAL

The management of the Bank is responsible for the preparation of these financial statements which were completed and authorized for issue on February 10, 2017.

Manajemen Bank bertanggung jawab atas penyusunan laporan keuangan yang diselesaikan dan disetujui untuk diterbitkan pada tanggal 10 Februari 2017.

150

OJK Regulation Reference

Financial Service Authority Regulation Reference No.

Page

I

GENERAL PROVISIONS The Annual Report must be written in the good Indonesian language, and also recommended to present this report in English language.



The Annual Report must be printed in a good quality by using type and size of font that easy to read.



3

4

REPORT

Explanation

1

2

2016 ANNUAL

Criteria

The Annual Report is posted on the company’s website in PDF format.

Including the latest annual reports and the lastest 4 years.

The annual report presents the company’s identity clearly that must be made in a way of easily readable. Pictures, graphs, tables and charts presented by mentioning the title and/or clear explanation.

Company name and the year of the Annual Report are shown in: 1. Front cover; 2. Side margin; 3. Back cover; and 4. Each page.





II

FINANCIAL HIGHLIGHTS

1

Summary of Financial Highlights is presented in the form of comparison with the previous 3 (three) fiscal years or since commencement of business of the company for less than 3 (three) years.

The information includes: 1. Revenues/Sales 2. Gross Profit 3. Income (Loss) 4. Total income (loss) attributable to equity holders of the parent entity and non-controlling 5. Total comprehensive income (loss) 6. Total comprehensive income (loss) attributable to equity holders of the parent entity and non-controlling 7. Earning (loss) per share 8. Total assets 9. Total liabilities 10. Total equity 11. Total investments in associates 12. Profit (loss) to total assets ratio 13. Profit (loss) to equity ratio 14. Profit (loss) to income/revenues ratio 15. Current ratio 16. Liabilities to equity ratio 17. Liabilities to total asset ratio 18. Other information and financial ratios relevant to the company and type of industry.

8

2

The Annual Report should contain information with respect to shares issued for each quarter period in the last two (2) fiscal years (if any)

Information includes: 1. Number of outstanding shares 2. Market Capitalization 3. Highest, lowest, and closing share price 4. Trading share volume

84

3

In the event of corporate actions, including stock split, reverse stock, dividend, bonus share, and decrease in par value of shares, then the share price referred to in point 2), should be added with explanation on:

1. Date of corporate action 2. Stock split, reverse stock, share dividend, bonus shares, and reduce par value of shares 3. Number of outstanding shares prior to and after corporate action 4. Share price prior to and after corporate action

149

No.

Criteria

Explanation

Page

4

In the event that the company’s shares were suspended and/ or delisting its shares during the year under review, then the Annual Report should contain explanation on the reason for the suspension.

-

5

In the event that the suspension as referred to in point 4) was still in effect until the date of the Annual Report, then the Issuer or the Public Company should also explain the corporate actions taken by the company in resolving the issue.

-

III

REPORT FROM THE BOARD OF COMMISSIONERS AND DIRECTORS Information includes: 1. Assessment on the performance of the Board of Directors and its basis of assessment in managing the company 2. View on the prospects of the company’s business as established by the Board of Directors 3. Assessment on the performance of Committees under the supervisions of the Board of Commissioners 4. Changes in the composition of the Board of Commissioner and the reason of its change (if any) 5. Frequency and the way Board of Commissioners give advice to the Board of Directors

20

2

The Board of Directors’ Report

Information includes: 1. The company’s performance, i.e. strategic policies, comparison between achievement of results and targets, and challenges faced by the company 2. Analysis of Business prospects 3. Implementation of Good Corporate Governance by the company 4. Assessment on the performance of committees under the Board of Directors (if any); and 5. Changes in the composition of the Board of Directors (if any)

26

3

Board of Commissioners and Board of Directors’ Signatures

Containing the following: 1. The signatures are set on a separate page 2. Statement that the Board of Directors and the Board of Commissioners are fully responsible for the accuracy of the annual report 3. Signed by all members of the Board of Commissioners and the Board of Directors by stating names and positions 4. A written explanation in a separate letter from each member of the Board of Commissioners or Board of Directors who refuses to sign the annual report, or written explanation in a separate letter from the other members in the event that there is no written explanation provided by the said member.

34-35

2016

The Board of Commissioners’ Report

ANNUAL REPORT

1

No. IV

Criteria

Explanation

Page

COMPANY PROFILE

1

Company profile

Includes the following items: Name, address, telephone, facsimile, email and website and/or branch office or representative office, where the public can obtain information about the company

38

2

Brief history of the company

Includes among others: Date/year of establishment, name and change in the company name (if any).

39

REPORT

2016 ANNUAL

Note: should be disclosed if the company never change the name

3

Field of business

Contains the following items: 1. The company’s business activities in accordance with the last articles of associations 2. The company’s business activities 3. The types of products and or services produced

44

4

Organizational structure

Organization Structure In the form a chart, including the names and titles, at least until one level below the board of directors on the structure

45

5

Company’s vision and mission

The information should contain: 1. Company’s vision and mission; and 2. A note that the vision and mission statements have been approved by the Board of Directors/Commissioners 3. Statement concerning the corporate culture in the company

42

6

Profile of the Board of Commissioners

The information should contain: 1. Name; 2. Latest photo 3. Age 4. Nationality 5. Positions history, the legal basis for the appointment that not an Independent Commissioner, the legal basis for the appointment of the first time as an independent commissioner, concurrent positions and work experiences had by the Issuer or Public Company, as stated in the minutes of the AGM decisions; 6. Domicile; 7. Education history; 8. A brief description of the type of training in order to improve competencies of the Board Commissioners that has followed during the year (if any); 9. Disclosure of affiliated relations with other members of the Board of Director and Board of Commissioners, as well as shareholder (if any) 10. History of appointments as the Board of Commissioners in the Company.

50

7

Profile of the Board of Directors

The information should contain: 1. Name; 2. Latest photo 3. Age 4. Nationality 5. History position, concurrent positions, working experiences, and legal basis for the first appointment on the Public Company, as stated in the minutes of the AGM decisions; 6. Domicile; 7. Education history; 8. A brief description of the type of training in order to improve competencies of the Board of Commissioners that has followed during the year (if any); 9. Disclosure of affiliated relations with other members of the Board of Director and shareholder (if any) 10. History of appointments as the Board of Directors in the Company

52

No.

Criteria

Explanation

Page

8

Change in the composition of the Board of Commissioners and/ or Board of Directors after the end of financial year until the time limit of submission of annual report as referred in item number 1 letter a, the composition has set in annual report is the composition of the last and before of the Board of Commissioners and/or Board of Directors

9

Number of employee (comparative in 2 years) and description of competence building (for example: education and training of employees)

The information should contain: 1. The number of employee for each level of the organization 2. The number of employees for each level of education 3. The number of employees based on employment status 4. The number of employees based on group age 5. The description and data of employees competencies development program that has been conducted, which also reflect equal opportunity to all employees, for each level of the organization; and 6. Expenses of employees competencies

92

10

Description of the name of shareholder and the percentage of its ownership at the end of financial year

Description includes: 1. Names of shareholders having 5% or more shares 2. Directors and Commissioners who own shares 3. Groups of public shareholders with less than 5% ownership each 4. Details of 20 largest shareholders

82

11

The number of shareholders and the percentage of ownership per end of the financial year based on the classification: a. Local institutions ownership; b. Foreign institutional ownership; c. Local people ownership; and d. Foreign individual ownership;

82-83

12

Information regarding major shareholder and issuer or public company, both directly or indirectly, which presented in form of scheme or chart.

83

13

Subsidiaries and/or affiliated companies

Information contains, among others: 1. Name of Subsidiary/Affiliate companies 2. Percentage of share ownership 3. Information of the field of business of subsidiary and/or Affiliate; total assets and 4. Explanation regarding the operational status of the Subsidiary/ Affiliate (already operating or not yet operating) 5. Information regarding the address of Subsidiary/Affiliate Company

71

14

Company’s group structure

Company’s group structure in the form of a chart, that shows subsidiaries, associated entities, joint venture and special purpose vehicle (SPV)

70

172

2016

ANNUAL REPORT

No.

Criteria

Explanation

Page

15

Chronology of shares listing.

Includes the following items 1. Chronology of shares listing 2. Types of corporate action that caused changes in the number of shares 3. Changes in the number of shares from the beginning of listing up to the end of the financial year 4. Name of Stock Exchange where the company shares are listed

86

16

Chronology of other securities listing.

Includes the following items 1. Chronology of other securities listing 2. Securities name, year of publication, date of maturity, the value of offers; 3. Types of corporate action that caused changes in the number of securities 4. Changes in the number of securities from the initial listing up to the end of the financial year; and 5. Name of Stock Exchange where the company’s other securities are listed; and 6. Rating of the securities

86

17

Name and address of capital market institutions and or supporting professions.

Includes the following items 1. Name and address of Share Registrar/parties administering the company’s shares; 2. Name and addresses of the Public Accountants’ Office 3. Name and addresses of the Securities Rating company

78

18

Award and/or certification received by the company on last fiscal year, both on a national scale and international scale.

Includes the following items 1. Name of the award and/or certification 2. Year of receiving the award 3. Institution presenting the award and or certification 4. Period of validity (for certificates)

79

19

Name and address of subsidiary companies and or branch office or representative office (if any).

Information should includes: 1. Name and address of business entities 2. Name and address of branch/representative office 3. Name and addresses of the subsidiaries; and

74-77

REPORT

2016 ANNUAL

Note: should be disclosed if there is no business entities/branches/representatives

Consists at least of: 1. Information on shareholding up to the ultimate individual shareholder; 2. Structure of business group (if any); 3. Analysis of financial performance; 4. Financial statements (the last 5 years); and 5. Profile of the Board of Commissioners and Directors

-

20

Information on the Company’s Website

V

MANAGEMENT DISCUSSION AND ANALYSIS ON COMPANY PERFORMANCE

1

Operation review per business segment

Description include, among others: 1. Products/line of business; 2. Process, Increase/decrease in production capacity and its development 3. Sales/operating income; and 4. Profitability

104

2

Description of company’s financial performance

Financial performance analysis which includes a comparison between the financial performance of the current year and that of the previous year, and the cause of the increase/decrease (in the form of narration and tables), among others concerning: 1. Current assets, non-current assets, and total assets 2. Short term liabilities, long term liabilities, total liabilities 3. Equity 4. Sales/operating revenues, expenses and profit (loss), Other comprehensive revenues, and total comprehensive profit (loss) 5. Cash flow

108

No.

Criteria

Explanation

Page

3

Discussion and analysis on the capacity to pay debts and the company’s accounts receivable collectability by presenting the relevant ratios calculated in accordance with the type of industry of the company.

Explanation on: 1. Capacity to pay debts in long term and short term 2. Accounts receivable collectibility

134

4

Discussion on capital structure and capital structure policies

Explanation on: 1. Details of capital structure 2. Management policies of the capital structure

137

5

Discussion on material ties for the investment of capital goods, on last fiscal year

Explanation on: 1. The purpose of such ties 2. Source of funds expected to fulfill the said ties 3. Currency of denomination 4. Steps taken by the company to protect the position of related foreign currency against risks

139

Note: Should be disclosed if the company has no material ties in investments in capital goods on last fiscal year

6

Discussion on investment of capital goods realized in the last fiscal year

Explanation on: 1. Type of the investment of capital goods 2. The purpose of the investment of capital goods 3. Value of the investment of capital goods realized in the last fiscal year

139

Note: Should be disclosed if the company has no investments in capital goods realized

7

Information about the comparison between the target at the beginning of the fiscal year with the results achieved (realization), and the target or projected to be achieved for the coming year regarding revenue, profit, capital structure, dividend policy, or others that are considered important for the company

Information should include: 1. The comparison between the target at the beginning of the fiscal year with the results achieved (realization); and 2. The target or projected to be achieved for the coming year (at least 1 year)

141

8

Material Information and facts that occurred after the date of th accountant’s report (subsequent events)

Description of important events after the date of the accountant’s report including their impact on performance and business risks in the future.

141

Note: should be disclosed if there is no significant events after the date of accountant report

Information on the company prospects in connection with industry, economy in general, accompanied with supporting quantitative data if there is a reliable data source.

142

10

Information on marketing aspects

Information regarding the marketing of the company’s products and services, among others concerning the market segment.

143

11

Description regarding the dividend policy and the date and amount of cash dividend per share and amount of dividend per year as announced or paid during the past 2 (two) years

Contains description on: 1. Dividend policy 2. Amount of dividend 3. Cash dividend per share 4. Payout ratio 5. The announcement date of cash dividend payment for each year

149

Note: if there is no dividend payment, disclose the reasons for not making a dividend payment

12

Management and/or Employee Stock Ownership Program implemented by the company (ESOP/MSOP)

Contains description on: 1. Amount of ESOP/MSOP shares and the realization; 2. Time period 3. Requirements of rightful employee and/or management 4. Excercise price Note: should be disclosed if there is no such program

151

2016

Description of the company’s business prospects

ANNUAL REPORT

9

No.

Criteria

Explanation

Page

13

Use of proceeds from the public offering (in the event that the company is still obligated to report such use of proceeds).

Contains description on: 1. Total funds obtained 2. Plan for funds utilization 3. Details of funds utilization 4. Remaining balance of funds, and 5. Date of General Meeting of Shareholder (or Bondholder) approval on change in the funds utilization plan (if any).

150

14

Information on investment, expansion, divestment, business merger/consolidation, acquisition, or debt/capital restructuring.

Contains description on: 1. Date, object and the name of the transaction; 2. Purpose of the transaction; 3. Transactional value or restructured amount; and 4. Source of fund

141

Note: explanation shall be given in the event that any transaction concerned is non-existent

15

Information on material transactions with conflict of interest and/or transactions with related parties.

Contains information on: 1. Name of the transacting parties and nature of related parties; 2. A description of the fairness of the transaction; 3. Reason for the transaction 4. Realization of transactions during the period 5. Company policies regarding the review mechanism on the transactions 6. Compliance with related rules and regulations

152-153

Note: should be disclosed if there are no such transactions.

16

Description of changes in regulation which have a significant effect on the company.

Contains information of changes in regulation which have a significant effect on the company.

17

Description of changes in the accounting policy

Description should contain among others: Any revision to accounting policies, rationale and impact on the financial statement.

18

Information on business continuity

Disclosure of information on: 1. Issues that may have significant impact on the continuity of business in the last fiscal year 2. Management assessment on issues in point 1; and, 3. Assumption used by the management in making the assessment

155

Note: if there is no change in regulation which have a significant effect, to be disclosed.

156-157

Note: should be disclosed if there are no changes in the accounting policy

REPORT

2016 ANNUAL

Note: If there is no issues that may have significant impact on the continuity of business in the last fiscal year, disclose the assumption used by management to arrive at the assessment that there is o issues that may have significant impact on the continuity of business in the last fiscal year.

157

No. VI

Criteria

Explanation

Page


1

Information on the Board of Commissioners

The information should contain: 1. Description of the responsibility of the Board of Commissioners 2. Description of determining the remuneration procedures policy 3. Remuneration structure, disclosing the type and amount of shortterm and long-term compensation/post service benefits for each member of the Board of Commissioners; 4. Frequency of meetings and attendance of the Board of Commissioners in the BOC meetings (including BOD & BOC joint meetings) 5. Training programs for improving the competence of the Board of Commissioner or orientation program for new member of BOC 6. Disclosing the Board Charter (guidance and work procedure of the Board of Commissioners) 7. Assessment on members of the Board of Commissioners: a. The assessment process on the performance b. The criteria used in the assessment on the performance c. The party performing the assessment 8. Assessment of the performance of the committee in supporting the implementation of the Board of Commissioners duties

168-176

2

Information about Independent Commissioner

The information should contain: 1. The criteria of Independent Commissioner 2. Statement about the independency of each Independent Commissioner

3

Information on the Board of Directors

The information should contain: 1. Scope of work and responsibility of each member of the Board of Directors 2. Frequency of meetings and attendance of the Board of Directors in the BOD meetings 3. Frequency of meetings and attendance of the Board of Directors in the BOD & BOC joint meetings 4. Training programs for improving the competence of the Board of Directors or orientation program for new member of BOD 5. Disclosing the Board Charter (guidance and work procedure of the Board of Directors) 6. Board of Directors succession policy

4

Assessment on members of the Board of Commissioners and Board of Directors

Includes among others: 1. The assessment process on the performance of members of the Board of Commissioners and Directors 2. The criteria used in the assessment on the performance of members of the Board of Commissioners and Directors 3. The party performing the assessment

5

Description of the remuneration policy for the Board of Commissioners and Board of Directors

Mencakup antara lain: 1. Disclosing the remuneration procedures 2. Remuneration structure, disclosing the type and amount of shortterm and long-term compensation/post service benefits for each member of the Board of Commissioners; 3. Remuneration structure, disclosing the type and amount of shortterm and long-term compensation/post service benefits for each member of the Board of Directors; and 4. Performance indicators to determine the remuneration of the Board of Directors’

176,189

6

Frequency of meetings and attendance of the Board of Commissioners in the BOC meetings, BOD meetings and BOD & BOC joint meetings

Includes among others: 1. Meeting date; 2. Attendance of the meetings 3. Agenda of the meetings for every BOC meetings, BOD meetings and BOD & BOC joint meetings

172-175, 183-187

-

177-189

182

2016

ANNUAL REPORT

No.

Criteria

Explanation

Page

7

Information on major shareholders and controlling shareholders, directly or indirectly, and also individual shareholders

In the form of scheme or diagram, except SOE that fully owned by the government.

82-83

8

Disclosure of affiliation with other members of the Board of Commissioners and Board of Directors and major and/or controlling shareholders

Includes among others: 1. Affiliation between member of the BOD and other BOD members 2. Affiliation between member of the BOD and BOC members 3. Affiliation between member of the BOD and major and/or controlling shareholders 4. Affiliation between member of the BOC and other BOC members 5. Affiliation between member of the BOC and major

172, 181

REPORT

2016 ANNUAL

Note: should be disclosed if there are no such affiliations

9

Audit Committee

Includes among others: 1. Name, age, nationality, and position of each member of audit committee 2. Education history 3. Positions history, including information: a. The legal basis for the appointment of committee members b. Concurrent positions as members of the Board of Commissioners, members of the Board of Directors and/or members of the committee as well as other positions (if any); and c. Working experience and the period of time both within and outside the Public Company; 4. Time period and tenure of the Audit Committee members; 5. Independence of the members of the Audit Committee 6. Description of tasks and responsibilities of the Audit Committee 7. Brief report on the activities carried out by the Audit Committee 8. Frequency of meetings and the attendance of the Audit Committee 9. Education and/or training which have been followed in the fiscal year (if any); 10. The implementation of the Audit Committee activities during the financial year which in accordance with the guidelines or Audit Committee charter.

190-193

10


Includes among others: 1. Name, title, and brief curriculum vitae of the members of the Nomination and/or Remuneration Committee/ Function 2. Education history 3. Positions history, including information: a. The legal basis for the appointment of committee members b. Concurrent positions as members of the Board of Commissioners, members of the Board of Directors and/or members of the committee as well as other positions (if any); and c. Working experience and the period of time both within and outside the Public Company; 4. Time period and tenure of the Nomination and Remuneration Committee 5. Independence of the members of the Nomination and/or Remuneration Committee 6. Description of the tasks and responsibilities 7. Brief report on the activities carried out by the Nomination and Remuneration Committee 8. Frequency of meetings and the attendance rate of the Nomination and/or Remuneration Committee 9. Description of roles and responsibilities; 10. Education and/or training which have been followed in the fiscal year (if any); 11. Board of Directors succession policy

194-195

No.

Criteria

Explanation

Page

11

Other committees of the company under the Board of Commissioners

Includes among others: 1. Name, age, nationality and position in the committee members 2. Education history 3. Positions history, including information: a. The legal basis for the appointment of committee members b. Concurrent positions as members of the Board of Commissioners, members of the Board of Directors and/or members of the committee as well as other positions (if any); and c. Working experience and the period of time both within and outside the Public Company; 4. Time period and tenure of the Committee members 5. Description of the tasks and responsibilities 6. Statement that has issued Guideline or committees charter; 7. Independence of the members of the committee 8. Frequency of meetings and the attendance rate of other committee 9. Education and/or training which have been followed in the fiscal year (if any); 10. Activities carried out by the committees

196-198

12

Description of tasks and function of the Corporate Secretary

Includes among others: 1. Name, domicile and brief history of the position of Corporate Secretary, including the legal basis for the appointment as corporate secretary and working experience as well as time period both within and outside the company; 2. Education history 3. Description of the tasks performed by the Corporate Secretary 4. Training programs for improving the competence of the Corporate Secretary

204

13

Description of General Meeting of Shareholders (GMS) of the previous fiscal year.

Includes among others: 1. Resolutions from AGMS of the previous fiscal year 2. Realization of previous fiscal year AGMS results 3. Reason if there is a decision of the AGMS has not been realized

14

Description of the company’s internal audit unit

Includes among others: 1. Name of the head of audit internal unit 2. Brief history including the legal basis for the appointment as head of audit internal and working experience as well as time period both within and outside the company; 3. Number of auditors in the unit 4. Qualification or certification as an internal audit profession 5. Education and/or training which have been followed in the fiscal year (if any); 6. Structure or position of the internal audit unit in the company 7. Description of the tasks and responsibilities 8. Statement that has issued Guideline or committees charter; 9. Brief report on the activities carried out by the internal audit unit 10. The party authorized to appoint/dismiss the head of internal audit unit

210

15

Public Accountants

The information should contain: 1. Name and year public accountant audited the financial statements on the last 5 years 2. Name and year public accountant firm audited the financial statements on the last 5 years 3. The amount of fees for the audit and other attestation services on the last fiscal year 4. Other service provided by the accountant in addition to financial audit on the last fiscal year

220-221

2016

ANNUAL REPORT

Note: should be disclosed if there are no other services

-

REPORT

2016 ANNUAL

No.

Criteria

Explanation

Page

16

Description of the company’s risk management.

Includes among others: 1. Description of risk management systems 2. Description of evaluation on the effectiveness of risk management systems 3. Description of risks faced by the company 4. Efforts to manage these risks

222

17

Description of internal control systems.

Includes among others: 1. Short description of the internal control system, including financial and operational control, as well as adherence to other laws; 2. Description of compatibility between the internal control system and internationally recognized internal control framework (COSO) 3. Description of evaluation on the effectiveness of internal control system

218

18

Description of corporate social responsibility activities related to environment.

Contains information on, among others: 1. Management Policies 2. Environment-related activities, that relevant with operational activity of the company, such as usage of recycled materials, energy, waste treatment, and complaints mechanism of environmental issues 3. Cost incurred; 4. Environment-related certification

279

19

Description of corporate social responsibility related to the workforce, work health and safety.

Contains information on, among others: 1. Management Policies 2. Health and safety-related activities, such as gender equality, equal work opportunity, work and safety facilities, employee turnover, work incident rate, training, remuneration, complaints mechanism of manpower issues, and others 3. Cost incurred.

279-280

20

Description of corporate social responsibility activities related to social and community development.

Contains information on, among others: 1. Management Policies 2. Social and community development related activities, such as the use of local work force, empowerment of local communities, aid for public social facilities, social donations, etc 3. Cost incurred

281-282

21

Description of corporate social responsibility activities related to responsibility to the consumer.

Contains information on, among others: 1. Management Policies 2. Consumer protection related activities, such as consumer health and safety, product information, facility for consumer complaint, number and resolution of consumer complaint cases, etc

283

22

Important legal cases faced by the Company, subsidiaries, members of the Board of Directors and/or Board of Commissioners serving in the period of the annual report.

Information includes among others: 1. Substance of the case/claim 2. Status of settlement of case/claim 3. Potential impacts on the financial condition of the company 4. Administrative sanctions imposed on the Company, the Board of Commissioners and Board of Directors, by the related authorities (capital markets, banking and others) in the last fiscal year (or there is a statement that is not subject to administrative sanctions)

272

Notes: in case not litigants, to be disclosed

23

Access to corporate information and data

Description on the availability of access to corporate information and data to the public, for example through website, mass media, mailing list, bulletin, analyst meeting, etc.

274-275

24

Discussion of company code of conduct

Contains information on: 1. Content of the Code of Conduc 2. Disclosure on the relevancy of the code of conduct for all levels of the organization 3. Socialization of the Code of Conduct 4. Type of sanction for each violation of code of conduct; and 5. The number of violation of code of conduct and sanction thereof in the last fiscal year

271

Note: To be disclosed if there is no violation to the code of conduct in the last fiscal year.

No.

Criteria

Explanation

25

Disclosure on the whistle blowing system.

Description of the mechanism of the whistleblowing system, including: 1. Mechanism for violation reporting 2. Protection for the whistleblower 3. Handling of violation report 4. The unit responsible for handling of violation report 5. Number of received complaint and processed in the last fiscal year and the follow-up handling

26

The policy about diversity of the Board of Commissioners and Board of Directors composition.

Page 273

Note: to be disclosed if there is no complaint received in the last fiscal year.

Description of the Company’s policy on diversity of the Board of Commissioners and Board of Directors composition on Education (field of study), work experience, age, and gender.

189

Note: the reasons and consideration should be disclosed, if there are no such policy.

27

VII 1

The implementation of Open Corporate Governance for Company that issues Equity Securities or a Public Company.

Includes a description, among others: 1. Statement of the recommendations that have been implemented; and/or 2. Explanation of the recommendations that have not been implemented, the reasons and the alternatives implementation (if any)

-

FINANCIAL INFORMATION Statement by the Board of Directors concerning the Responsibility of the Board of Directors on the Financial Statement

Conformity with the relevant rules of responsibility for the financial statements



2

Independent auditor’s opinion on the financial statement

3

Description of the Independent Auditor in the Opinion

The description contains: 1. Name & signature 2. Date of the Audit Report 3. KAP license number and Public Accountant license number

4

Comprehensive financial statement

Contains all elements of the financial statement: 1. Financial Position (Balance sheet) 2. Comprehensive Profit loss statement 3. Statement of changes in equity 4. Statement of Cash flows 5. Notes to the financial statement 6. Comparative information of the previous period; and 7. Financial position at the start of comparative periods being presented when the company implement retrospective application of accounting policies, or re-stated its accounts of financial statements, or reclassified the accounts of its financial statements (where applicable)



5

Comparison of profitability

Comparison of profit (loss) from operations for the year by the previous year



6

Cash flow report

Meets the following provisions: 1. Grouped into three categories of activity: operational activity, investment, and funding 2. Uses a direct method reporting for cash flows for operational activity 3. Separating the presentation between cash receipt and or cash expended during the current year for operational, investment, and funding activities 4. Disclosing activities that do not influence the cash flow.



 

2016

ANNUAL REPORT

REPORT

2016 ANNUAL

No.

Criteria

Explanation

Page

7

Summary of accounting policy.

Includes at least: 1. Statement of compliance to Financial Accounting Standard 2. Basis for the measurement and preparation of financial statements 3. Recognition of revenues and expenses 4. Work compensation 5. Financial instruments



8

Disclosure of transactions with related parties.

Disclosure of, among others: 1. Name of related party, and nature of relation with related party 2. Amount of transaction and its percentage to total related revenues and expenses 3. Total balance of transaction and its percentage to total assets or liabilities



9

Disclosure related to taxation.

Disclosure of, among others: 1. Fiscal reconciliation and calculation of current tax. 2. Explanation on the relation between tax expenses (benefit) and accounting/book profit 3. Statement that the amount of Taxable Profit as calculated through reconciliation is in accordance with the Tax Return. 4. Details of deferred tax assets and liabilities recognized on the financial position (balance sheet) for each reporting period, and the amount of deferred tax expenses (benefit) recognized in the profit/ loss statement in the event that the amount is not recognizable from the amount of deferred tax assets and liabilities presented on the financial position (balance sheet) 5. Disclosure of whether or not there is a tax dispute



10

Disclosure related to Fixed Assets.

Issues that should be disclosed: 1. Depreciation method used 2. Description of the selected accounting policies between the revaluation model and cost model 3. The methods and significant assumptions used in estimating the fair value of fixed assets (revaluation model) or disclosure of the fair value of fixed assets (cost model) 4. Reconciliation of the gross book value and accumulated depreciation of fixed assets at the beginning and end of the reporting period, showing any addition, reduction and reclassification



11

Disclosures relating to operating segment

Issues that should be disclosed: 1. General information which includes the factors used to identify segments that are reported; 2. Information about income, assets, and liabilities of the reported segment 3. Reconciliation of total segment revenues, reported segment profit or loss, segment assets, segment liabilities and other segment material elements to the related number of the entity; and 4. Disclosures at entity level, which includes information about products and/or services, geographic areas and major customers



12

Disclosures relating to Financial Instruments

Issues that should be disclosed: 1. The detail of financial instruments based on the classification 2. The fair value and the hierarchy of each class of financial instruments 3. Risk management policy 4. Explanation of the risks associated with financial instruments: market risk, credit risk and liquidity risk 5. Explanation of the risks associated with financial instruments: market risk, credit risk and liquidity risk



13

Publication of financial statements

Issues to be disclosed include: 1. The date that the financial statements is authorized to be published; and 2. The responsible party who authorized the financial statements



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