Finding the Right Solutions for MSME

Annual Report 2008

PT Bank Bukopin Tbk Head Office: Jl. M.T. Haryono Kav. 50-51 Jakarta - 12770 Tel. : [021] 7988266 / 7989837 Fax. : [021] 7980625 / 7980238 / 7980244 Telex : 62487 / 66146 / 66087 BKOPIN IA Swift : BBUKIDJA IA www.bukopin.co.id

Finding the Right Solutions for MSME...as well as for Large Corporations

Annual Report 2008

Annual Report

2008

Finding the Right Solutions for MSME...

Cover Story Contents Cover Story [1] Vision, Mission, Corporate Values [2] Performance in 2008 [3] Technology Modern Banking [4] Company Profile [8] Milestones [10] Achievement and Certificate [11] Significant Events in 2008 [12] Financial Highlights [14] Stock Highlights [16] Shareholders Composition [17] Message from the President Commissioners [20] Director’s Report [26] Sharp & Strategic [32] Directorate of Small, Medium-scale Enterprises and Cooperatives [34] Directorate of Commercial Banking [38] Directorate of Consumer Banking [42] Sharia Division [46] Treasury Division [49] International Banking Division [50] Micro Savings and Loans Division [51] Human Resources [52] Directorate of Services and Distribution [56] Solvent and Sustainable [59] Risk Management [60] Corporate Governance [66] Corporate Social Responsibility [106] Transparent & Accessible [108] Management’s Discussions and Analysis [110] Responsibility on the Financial Statements [124] Financial Statement [125] Corporate Data [275] Solid & Stable [277] Organisational Structure [278] Corporate Information [279] The Board of Commissioners [280] The Board of Directors [282] Audit Committee [284] Remuneration and Nomination Committee [285] Risk Monitoring Committee [287] Sharia Supervisory Board [288] Senior Officers [289] Products and Services [296] Awards and Acknowledgements of National and International [299] Office Network [303] Capital Market Supporting Institutions and Profession [315]

Bank Bukopin understands and provides solutions. This motto has long served as the philosophy that underlies the success of Bank Bukopin as an increasingly trustworthy, publicly held Bank. In the past several years, the ability of Bank Bukopin to provide the right solutions to different customer needs, has strengthened the existence of Bank Bukopin as a banking institution that provides prime services to the Micro, Small, Medium Enterprise and Cooperative segments. The ability of Bank Bukopin to find the right solution for a variety of banking services to the above segments, has given Bank Bukopin a strategic platform to maintain its sustainable growth, especially in these challenging economic times. Keenly aware of the importance of Bank Bukopin’s roles in providing a comprehensive range of banking services that are able to reach customers from all walks of life, from villages to cities, small and large businesses, corporate as well as individual customers, Bank Bukopin is proud to present the theme of its 2008 Annual Report as “Finding the Right Solutions for Micro, Small, and Medium Enterprises...as well as for Large Corporations.”

as well as for Large Corporations. Bank Bukopin ANNUAL REPORT 2008

1

VISION To become a trustworthy bank for financial services.

MISSION To provide the best services to customers, participate in the development of medium-scale, small, micro, and cooperative businesses, and enhance shareholder value as well as employee welfare.

Corporate Values Focus on the Customer Understand, develop, serve and fulfil the needs and wants of stakeholders, both internal and external. Cooperation Helpful towards one another, highly coordinated and cooperative, in order to achieve positive synergy. Discipline Adhere to all rules, regulations, and fulfil all commitments to internal and external parties. Competence Acquire knowledge, skills, perspectives and expertise in respective fields, and constantly improves oneself. Integrity Posses, uphold and practice the values of honesty, sincerity, avoiding conflict of interest and abuse of power.

2

Bank Bukopin ANNUAL REPORT 2008

Performance

20%

in 2008 Credit

I

n 2008

Bank Bukopin posted a credit growth of 20%, or Rp3,894 billion, to Rp23,042 billion as at year-end. This growth resulted in the increase of Loan to Deposit (LDR) ratio from 65.25% in 2007 to 83.60% in 2008, reflecting the growing financial intermediary role of Bank Bukopin, and its commitments to sound earning assets growth, as well as its contribution to national economic growth.

14%

Net Interest Income

I

n 2008

Bank Bukopin posted a net interest income of Rp1,468 billion, an increase of 14% from Rp1,288 billion in 2007. This increase was supported by earning assets expansion, in addition to effective interest expense management.

39%

Savings

A

s at year-end 2008

Bank Bukopin had total savings accounts amounting to Rp4,124 billion, an increase of 39%, or Rp1,151 billion, from Rp2,973 billion in 2007. The increase was primarily attributed to the success of Bank Bukopin in developing its Consumer Banking Services, which are increasingly recognised by the public through the Bank’s rallying cry of: “Bank Bukopin is truly wokeee...!!!” Bank Bukopin ANNUAL REPORT 2008

3

Technology Modern Banking

Bank Bukopin relies on an open banking technology system that is highly adaptable and scalable, in addition to being receptive to specific application developments that are custom-made.

4


Banking is a business that involves people. However,

developing an in-house application system,

modern banking demands skilled personnel and

which was not only well-received by Visa

advanced banking technology.

International, but was also faster in terms of its time-to-market development and subsequent

To that end, Bank Bukopin implements and continues

launch of the Bank Bukopin Visa Card services.

to develop one of the most advanced information technology systems currently employed in Indonesian

Use of Appropriate Technology

banking, today. Our innovative technology

Still in the 1990s, Bank Bukopin developed

breakthroughs can be seen, among other things, in the

the concept of savings and loans network of

areas of product development, service enhancement,

Swamitra in 1998, by relying on information

value creation, creative and effective market

technology and an on-line communication

penetration as well as in risk management.

system that provided the information infrastructure needed to support business

The following examples describe how mastery over

and for service continuity for Swamitra. This

technology enables Bank Bukopin to compete with

concept was awarded first place in the Asian

other leading banks who are much larger in terms

Banking Award for the category of innovative

of assets, networks, scope of services, and human

technology application in the development of

resources.

banking services that benefit a broad segment of the general public. A decade later, Swamitra

Technology Self-Sufficiency

has proven to be a successful network of micro

In 1997, when banks in Indonesia had to rely

savings and loans that had 274,182 customers

on information technology services from foreign

and a fund circulation of Rp392 billion as at

companies that were appointed by Visa International

year-end 2008.

to develop application systems needed to run the Visa Card services, Bank Bukopin proved its capability in


5

Adaptive Technology, Opening Access to the Broadest

Technology-based Public Services

Range of Banking Services

A major breakthrough in banking services that was

Bank Bukopin relies on an open banking technology

successfully achieved by Bank Bukopin recently was

system that is highly adaptable, in terms of both the

the development of a Point Payment On Line Bank

development of its applications as well as scalability

(PPOB) Network for electricity bill payment, which

for future growth. This allows the Bank to develop a

engages public participation in providing premises for

variety of applications in order to support the various

the PPOB. This breakthrough not only improves public

cutting-edge features of its growing banking products

services in terms of providing conveniently-located

and services. One example is the benefit of Bank

payment points for electricity bills, but also provides

Bukopin’s ATM (Automatic Teller Machine) Card

business opportunities to community members who

that can be used in all ATM terminals throughout

are interested in opening a Bukopin PPOB outlet.

Indonesia, that belongs to the networks of ATM

These outlets also contribute to an increase of the

Bersama, ATM ALTO and ATM BCA/Prima free-of-

Bank’s fee-based income, not to mention the benefits

charge without restrictive condition. The ability to

derive from the funding aspect of business. As of

access these ATM networks is not readily available

year-end 2008, more than 3,500 Bank Bukopin PPOB

to ATM cards issued by other banks. The benefits of

outlets were in operations.

Bank Bukopin’s technology are also enjoyed by Bank Bukopin customers with the many features of the Bank’s ATM services.

6


Business-to-Business Cooperation with Advanced

Comprehensive Banking Services Supported by

Technology

Reliable Banking Technology

Bank Bukopin’s expertise in technology also

Bank Bukopin has progressed rapidly in the

contributed to providing effective solutions, as implied

development of its banking business in the three

in the Bank’s motto, Bank Bukopin “Understands

main segment pillars of the MSMEC, Consumer and

and Provides Solutions.” Custom–made technology

Commercial segments. Bank Bukopin’s progress in

applications play an important role in a variety of

the Consumer Banking has been significant. The same

successful collaborations between Bank Bukopin and

rapid progress is also evident in the MSMEC segment,

business partners whether corporations or institutions.

marked by a rapid increase of lending to this segment,

Some of these co-operations are undertaken with

as well as in the Commercial segment whereby

public service companies from both the private

Bank Bukopin has increase lending for infrastructure

and public sectors. The service comprises of cash

projects such as the development of power plants, and

management services for the collaborating party,

toll roads. Additionally, Bank Bukopin has made major

involving management of cash flows as well as

inroads to certain business sectors that demonstrated

payment services to end customers of the collaborating

dynamic growth such as healthcare services,

party. Other forms of B2B cooperation that are

plantations, mining and trade. These progresses

supported by reliable banking technology include

can only be achieved with the support of a reliable

cash management services that have been increasingly

banking information technology.

relied upon by several leading companies and government agencies in Indonesia.


7

Company Profile

B

ank Bukopin was established on 10 July 1970 as a bank that focuses on the Micro, Small, Medium-scale Enterprises and Cooperatives (MSMEC) segment. After almost four decades, Bank Bukopin has grown and evolved to become one of the leading banks in Indonesia with total assets of Rp32,633 billion as at year-end 2008. In addition to the MSMEC Banking segment, which in 2008 has been divided into the Micro Banking segment and the Small, Medium-scale Enterprises and Cooperatives Banking segment, Bank Bukopin also serves the Consumer Banking segment and Commercial Banking segment. The MSMEC Banking segment is where most of Bank Bukopin loans are currently disbursed channeled. The Consumer Banking segment, which primarily comprises of individual customers in major cities in Indonesia, represents the segment in which Bank Bukopin raises most of its third party funds. Whereas the Commercial Banking segment is where Bank Bukopin strikes a balance between lending and funding. These three segments constitute the pillars of Bank Bukopin’s businesses, that are served either conventionally or based on the sharia principles, and supported by an advanced fund management system, reliable information technology, competent human resources, and the implementation of good corporate governance. As at year-end 2008, Bank Bukopin’s operations are supported by 327 branch offices, including Payment Points and Pick-up Services, spread across 22 provinces throughout most of Indonesia, and supported as well by 333 Bukopin ATM that are linked with more than 20,000 ATM nationwide and more than 500,000 ATM worldwide through the Plus and Visa International networks respectively. Bukopin ATM card holders can withdraw fund from any ATM of any

8


bank in Indonesia that belongs to the networks of ATM Plus, ATM Bersama, ATM ALTO and ATM BCA Prima, free-of-charge and without restrictive conditions. Bank Bukopin’s branch network is connected real-time and on-line through a reliable information technology system that allows Bank Bukopin to offer the latest banking services. In addition to the extensive network of branch offices, Bank Bukopin has also built a savings and loans network for micro businesses called “Swamitra”. A network that involves the role of active micro businesses in rural economies and traditional markets. Established in 1998, Swamitra has since grown into a network that consists of 621 outlets by end of 2008, of which 464 outlets have been linked on-line. In July 2006, Bank Bukopin listed its shares on the Indonesia Stock Exchange, with ticker code of BBKP. With a capital based that is continuously strengthened in line with the development of its business, risk management and internal control that is continuously enhance, product and service developments that are innovatively design to meet market needs, human capital that are developed continuously, and service quality enhancement that exceeds customer expectation, Bank Bukopin is poised to achieve sustainable long-term growth.


9

Milestones

1970 Bank Umum Koperasi Indonesia (BUKOPIN) was founded with the legal status of a Cooperative

1986 - 1987

Bukopin merged with several banks under the same legal status of Cooperative

1989

A change of name from Bukopin to Bank Bukopin

1993

Bank Bukopin changed its legal status to that of a limited liability company under the name of PT Bank Bukopin

1996

Received permit as a Foreign Exchange Bank

1999

Entered into the Bank Recapitalisation Program

2001

• Inauguration of first sharia branch • The first Bank to exit from Bank Recapitalisation Program

2003

Issuance of Series A Bonds, Series B Subordinated Bonds and the Sharia Mudharabah Bonds

2006

• Became a publicly-listed Bank • Acquisition of 24,73% shares of PT Bank Syariah Bukopin (formerly PT Bank Persyarikatan Indonesia) • Acquisition of the shares of PT Bukopin Finance (formerly PT Indo Trans Buana Multi Finance)

2008

Additional acquisition of the shares of PT Bank Syariah Bukopin, bringing the total stakes to 65,44%

10


Achievement and Certificate Call Center Award (CCA) 2008 for Service Excellence, for “Very Good” Service Performance 12 March 2008

Award for the Archive Field 19 May 2008 The National Archive of the Republic of Indonesia

Marketing Magazine

Award for “2nd Best SMS Banking”

Award for “Overall Best Performance”

14 May 2008

14 May 2008

InfoBank in Banking Service Excellence

Banking Service Excellence Award 2008

Award 2008

Award for “2nd Best Teller Commercial Bank”

Bank with Innovative home mortgage loan that always provides a solution

14 May 2008

29 May 2008

Banking Service Excellence Awards 2008,

Indonesia Property Award & Bank Award

InfoBank

2008

Award for “8th Best Overall Performance“ in the category of commercial bank

Award for Convenient Islamic Bank ATM 10 May 2008 KARIM Business Consulting

14 May 2008 Banking Service Excellence Awards 2008, InfoBank

Golden Trophy 2008, for “Excellent” financial performance 2003-2007 16 July 2008 InfoBank Award 2008

Rating PEFINDO, Jakarta 2008

Validity

Company Rating

id A -

Series B Subordinated Bonds of 2003

id BBB+

Series A Bonds Year 2003

id A -

Sharia Mudharabah Bonds of 2003

id A - Sy

31 July 2007 to 1 July 2008

31 July 2007 to 10 July 2008


11

Significant Events in 2008 January

March

16/01/2008 Signing of working agreement between

06/03/2008 Bank Bukopin held the Extraordinary

Bank Bukopin and PLN West Java and Banten Distribution for electricity bill payment through PPOB and payment for prepaid electricity top-up.

General Meeting of Shareholders, in which one of the agenda was the approval of additional share ownership in PT Bank Persyarikatan Indonesia (BPI).


12/03/2008 Bank Bukopin received the “Call Center

the Sharia Division of Bank Bukopin and Panin Bank in the management of the Bukopin Syariah Insurance Savings Plan.

Award 2008 for Service Excellence”, for the ‘Halo Bukopin’ service in the category of ‘Good’ Service Performance.

20/01/2008 Signing of working agreement with four


National Sharia Bank for a syndicated financing in the amount of Rp525 billion for PT Citra Sari Makmur.

27/01/2008 Bank Bukopin participated in the “Ayo

ke Bank” Campaign at Silang Monas-Jakarta. The campaign is one of the banking education programs of Bank Indonesia.

30/01/2008 Bank Bukopin signed a working

agreement with Bapertarum, Bank BTN, Bank BNI, and Bank Bumiputera for the channeling of the PUM (down payment loan) facility for the home mortgage, Sarusun.

February 20/02/2008 Signing of working agreement between

Bank Bukopin and the Directorate General of Debt Administration, Ministry of Finance of the Republic of Indonesia on the appointment of Bank Bukopin as a selling agent for ORI 004 held at Prijadi Praptosuharjo Building.

22/02/2008 Signing of working agreement between Bank Bukopin and DPN MAI on the development of Swamitra held at the Ministry of State Owned Enterprise Office.

12


Bank Bukopin and four regional development banks (BPD East Java, Bank DKI, BPD East Kalimantan and BPD West Kalimantan) in the syndicated financing for PT Equator Manunggal Power (EMP) in the amount of Rp365 billion.

April 15/04/2008 Signing of working agreement between Bank Bukopin and BPD East Kalimantan and PT Gorontalo Energi on the syndicated project financing of a 2x7 MW power plant in Gorontalo.

May 07/05/2008 Bank Bukopin participated in the

APCONEX exhibition 2008 with the theme of “Towards a Less Cash Society” organized by Perbanas.

14/05/2008 Awarded the Service Excellence Award 2008, for the categories of Best Teller (Commercial Bank), Best SMS Banking, Best Overall (Commercial Bank).

19/05/2008 Bank Bukopin was awarded the

Archive Award for banking from the National Archive of the Republic of Indonesia (ANRI), in its archive management performance.

22/05/2008 Bank Bukopin held the Annual and Extraordinary General Meeting of Shareholders for 2007, for the year ending on 31 December 2007.

30/07/2008 Bank Bukopin participated in the Small and Medium Enterprise and Corporative (SMEsCO) 2008 exhibition at the Jakarta Convention Center.

29/05/2008 Bank Bukopin received an award from the Ministry of Public Housing of the Republic of Indonesia on the occasion of the 3rd Anniversary of Property & Banking Award 2008.

August

June 04/06/2008 Bank Bukopin participated in the

Indonesia Ethnic Product Week 2008 exhibition at the Jakarta Convention Center.

18/06/2008 Bank Bukopin launched the SiAga Bukopin Bisnis Savings product that offers flexibility and several innovative business features. 24/06/2008 Bank Bukopin launched the iB Sharia Savings Plan product, which is a term savings program that offers a competitive return rates on the savings.

July 10/07/2008 Bank Bukopin exercised a Call Option or Buy Back of the entire series A Bank Bukopin Bonds of 2003, the series B Bank Bukopin Subordinated Bonds of 2003 and the Bank Bukopin Sharia Mudharabah Bonds of 2003. 16/07/2008 Awarded the Info Bank Award for the

bank with a focused business activity in a particular segment (Equity between Rp1 trillion and Rp10 trillion).

20/07/2008 Bank Bukopin held the 38th Bank

Bukopin Anniversary Golf Tournament at the Permata Sentul Golf Course in Bogor.

04/08/2008 Bank Bukopin held an Analyst Meeting, presenting the Bank’s financial result for the first semester of the year. 27/08/2008 Bank Bukopin inaugurated the Darus Sa’adah dormitory. The dormitory represents one of Bank Bukopin’s CSR programs in support of orphanages and those living below the poverty line.

September 20/09/2008 Bank Bukopin organised “Sahur on the Road” during the month of Ramadhan 1429.

October 31/10/2008 Bank Bukopin launched the savings program named “Voucher Smash Wokeee…!!!” and the prize draw for the New BMW 320i, fourth period.

November 13/11/2008 Bank Bukopin held a Public Expose on 3Q 2008 operating results.

December 11/12/2008 Bank Bukopin launched the operations of Bank Syariah Bukopin at Hotel Grand Melia. 18/12/2008 Bank Bukopin participated in the 2008 Mutumanikam Nusantara Exhibition at the Jakarta Convention Center.

29/07/2008 Bank Bukopin together with BRI, BNI and Bank Mega signed a syndicated financing agreement for the development of 13 power plants in Indonesia in line with 10,000 MW program (PLN fast track program).


13

Financial Highlights 2008

(in billion Rupiah, except the percentage)

Balance Sheet Consolidated

Total Assets Deposits : Demand Deposits Savings Deposits Time Deposits Earning Assets** Loans Shareholder’s Equities

32,633 27,521 5,776 4,124 17,621 33,589 23,042 2,163

2007

2006

34,446 29,292 8,849 2,973 17,470 32,481 19,148 1,965

31,556 24,885 8,295 2,002 14,588 29,237 14,583 1,668

2005

2004

24,684 20,188 7,701 1,728 10,760 22,107 13,821 1,193

18,415 15,237 5,160 1,751 8,325 17,317 12,977 1,042

1,468 1,288 1,227 1,023 309 266 170 109 (85) (33) (145) (20) 1 (1) (19) (1) (4) (11) - - (18) 5 9 (14) (1,118) (986) (812) (272) (2) 15 30 6 551 544 460 375 369 375 315 256

898 94

Statement of Income Interest and Sharia Incomes - Net Other Operational Incomes Reversal of Provision (expenses) of Productive Assets Depreciation Reversal of Provision (expenses) of Possible Losses on Commitment and Contingencies – Net Reversal of Provision (expenses) of Non-productive Assets Depreciation - Net Gain (losses) from increase (decrease) In Securities Value Trading - Net Other Operating Expenses Non-operational Income (Expenses) - Net Income before tax Net income

(67) 10 8 (622) (14) 306 210

Financial Ratio (Bank only, without Subsidiaries) (%) Loan to Deposit Ratio (LDR) Capital Adequacy Ratio (CAR) by calculating the credit risk and market risk*** Return on Assets (ROA) Return on Equities (ROE) Non-performing Loan (NPL) Ratio - gross**** Net Interest Margin (NIM)

*

83.60 65.26 58.86 68.39 11.20 12.84 15.79 13.08 1.66 1.63 1.85 2.09 18.80 22.34 22.14 25.35 4.87 3.57 3.71 3.37 4.80 4.27 5.18 6.05

The financial highlights of 2007 and 2008 are taken from Consolidated Financial Report of PT Bank Bukopin Tbk and its Subsidiary. ** Earning Assets to include Letter of Credit and Bank Guarantee. *** Capital Adequacy Ratio (CAR) by calculating the credit risk and market risk for the year 2004 to 2008. **** Non-performing Loan ratio include credit to other banks.

14


85.13 15.09 1.91 22.82 3.43 5.35

Total Assets

Productive Assets

(In billion Rupiah)

(In billion Rupiah)

34,446 31,556

32,481

32,633

33,589

29,237

24,684

22,107 17,317

18,415

2004

2005

2006

2007

2008

Net Interest and Sharia Incomes

2004

2005

2006

(In billion Rupiah)

1,468

898

2008

Net Income

(In billion Rupiah)

1,227

2007

375

1,288

369

315

1,023

256 210

2004

2005

2006

2007

2008

2004

2005

2006

2007

2008


15

Stock Highlights Rp

Points 30,000,000

14,000,000,000

12,000,000,000

25,000,000

10,000,000,000 20,000,000

8,000,000,000 15,000,000 6,000,000,000

10,000,000 4,000,000,000

5,000,000

2,000,000,000

01

02

03

04

05

06

07

08

09

10

11

Price Volume

12

Sources of data : IDX Ticker Symbol : BBKP

Share Price (Rupiah)

2008 Q1

Q3

Q4

Q1

Q2

Q3

Q4

Highest

550

480

415

320

730

670

600

610

Lowest

350

370

275

164

570

570

420

510

Closed

420

400

335

185

590

590

590

560

155,637

204,268

193,818

120,966

570,549

790,490

787,907

421,234

71,223

127,016

74,017

24,849

368,915

499,726

449,455

241,416

Transaction Volume (thousand) Transaction Value (million Rupiah)

16

Q2

2007


Shareholders Composition Shareholder’s Composition per 31 December 2008 Types of Share & Shareholders A- Series Shares Amount of A-Series Share

Ownership Percentage (%)

Amount of Shares 21,337,978

0.37

B- Series Shares 1. Kopelindo (Indonesian Cooperative Union of Bulog Employees)

2,327,819,153

40.47

2. The State of the Republic of Indonesia

1,034,232,376

18.10

3. Yabinstra Bulog (Bulog Employee Welfare Foundation)

687,385,206

12.03

4. Kopkapindo (Indonesian Timber Cooperative Union)

399,559,599

6.99

5. Inkud (Principal Cooperative Union of Village Unit)

209,379,638

3.66

6. KKBJ (Bank Bukopin Jakarta Employee Cooperative Union)

118,921,111

2.08

Cooperative and Small Enterprise Guidance)

1,840,464

0.03

8. Kopel (Bulog Employee Cooperative Union)

7,653,110

0.13

9. GKBI (Federation of Indonesian Batik Cooperative Union)

4,053,287

0.07

10. Inkopkar (Principal Cooperative Union of the Employees)

3,098,097

0.05

11. Inkopad (Principal Cooperative Union of the National Army)

2,842,597

0.05

12. Inkoppol (Principal Cooperative Union of the National Police)

2,727,686

0.05

13. Inkoveri (Principal Cooperative Union of the Indonesian Veterans)

2,685,285

0.05

14. IKPI ( Principal Cooperative Union of the Indonesian Fisheries)

2,609,085

0.05

15. Inkopal (Principal Cooperative Union of the Indonesian Navy)

2,333,527

0.04

16. Inkopau (Principal Cooperative Union of the Indonesian Air Force)

1,992,215

0.04

17. Kopindo (Indonesian Youth Cooperative Union)

1,053,883

0.02

885,424

0.02

Armed Forces)

591,657

0.01

20. Puskopelra (Cooperative Union of People’s Shipping)

587,723

0.01

21. GKSI (Federation of Indonesian Milk Cooperative Union)

330,927

0.01

879,939,000

15.40

Amount of B-Series Share

5,692,521,050

99.63

Total Shares

5,713,859,028

100.00

7. KPDK ( Employee Cooperative Union of the Department of

18. Inkoppabri (Principal Cooperative Union of the Retired Armed Forces) 19. Inkoptama (Principal Cooperative Union of the Retired Women

22. Public (each ownership under 5%)


17

Composition Share of Ownership Bank Bukopin by the Board of Commissioners and the Board of Directors as 31 December 2008

NAME of Directors/ Commissioners

NO.

DirectorS/ Commissioners/ Families

Total Shares in BANK

TYPES OF SHARES & AMOUNT OF COLLECTIVE SHARES CLASS

SERIES NUMBER

DATE OF PURCHASE

(Rp)

OTHER INFORMATION (%)

1

SAEAN ACHMADY

President Commissioner

5,959,500

B

-

-

-

0.104

2

ANDI CHAERUDDIN MUHAMMAD

Commissioner

2,068,000

B

-

-

-

0.036

3

BOEDIARSO TEGUH WIDODO

Commissioner

2,068,000

B

-

-

-

0.036

4

SYAMSUL EFFENDI

INDEPENDENT Commissioner

-

-

-

-

-

-

5

SUTRISNO IWANTONO


-

-

-

-

-

-

6

YOYOK SUNARYO


-

-

-

-

-

-

7

GLEN GLENARDI

President Director

851,000

B

-

-

-

0.015

8

TRI JOKO PRIHANTO

Director

2,875,500

B

-

-

-

0.050

9

AGUS HERNAWAN

Director

2,631,000

B

-

-

-

0.046

10

SUNARYONO

Director

3,592,000

B

-

-

-

0.063

11

SULISTYOHADI DS

Director

3,342,000

B

-

-

-

0.058

12

MIKROWA KIRANA

Director

793,000

B

-

-

-

0.014

13

LAMIRA SEPTINI PARWEDI

Director

1,252,000

B

-

-

-

0.022

Total

25,432,000

0.445

Jakarta, 31 December 2008 PT BANK BUKOPIN Tbk

Glen Glenardi President Director

18


Dividend Policy Dividend is paid under the resolution of

In the Annual GMS for the year ending 31 December

General Meeting of Shareholders (GMS) at the

2007 (on 22 May 2008), having reviewed Bank

recommendation of the Board of Directors. Pursuant

Bukopin’s performance for the period of 2007, the

to the Articles of Association of Bank Bukopin, if

shareholders approved to distribute cash dividend of

the Bank Bukopin recorded net income on each

50.0% from net profit or a total of Rp187 billion. The

fiscal year, Bank Bukopin may distribute dividend to

dividend has been paid on 1 July 2008.

the shareholders based on the Board of Directors’ Pursuant to the resolution of the Extraordinary

recommendation and approval from the GMS.

General Meeting of Shareholders dated 20 April 2005, Since 2002, Bank Bukopin has distributed cash

Bank Bukopin set up the ratio for determined cash

dividends for 6 (six) times. The table below sets forth

dividend of 30.0% - 50.0% from net profit of the

the dividends payments between financial years 2002

year. Distribution of dividend, however, subject to the

and 2007.

financial performance and condition of Bank Bukopin.

List of Cash Dividend Distribution for Fiscal Years 2002 – 2007 to the Shareholders of PT Bank Bukopin Tbk Amount (Rp)

Dividend per Share (Rp)

No

Fiscal Year

Date of Payment

1

2002

13,867,869,948.80

11.3

5 August 2003

2

2003

53,927,901,646.11

11.3

16 July 2004

3

2004

105,225,476,000.00

22.0

18 May 2005

4

2005

115,503,834,914.00

24.2

29 May 2006

5

2006

126,086,558,665.00

22.4

29 June 2007

6

2007

187,563,173,068.82

32.8

1 July 2008

The Chronology of Shares Listing and Information Initial Public Offering Effective date of Share Listing

10 July 2006

Nominal Value per Common Share of Class B

Rp100

Price of Public Offering

Rp350

Amount of Public Offering (number of shares) Proceeds of IPO

843,765,500 Rp295,317,925,000


19

Message from the President Commissioner Board of Commissioners “The considers these accomplishments as the result of the hard work of Management and employees of the Bank, and also reflect upon the solid teamwork within Bank Bukopin, in addition to the trust that has been obtained by the Bank from its stakeholders.

“

Saean Achmady 20



E

ntering 2008, the global economy still indicated a promising growth momentum. Although the financial crisis and stock market crash in the United States (US) that had eventually spread across the world, which initially started from the US subprime mortgage crisis in the Summer of 2007, the global economy still continued to thrive during the first half of 2008. The prices of several Indonesian main commodities, such as oil, natural gas, coal and tin, as well as various produce from plantations and agriculture, such as palm and palm-oil, rubber, cocoa, corn and other produce even reached their highest records. These conditions were beneficial to Indonesia, especially viewed from the perspectives of its sustainable national economic growth.

of 2008, the pace of growth of Indonesia’s GDP was still on track to surpass 7% – the minimum level of economic growth needed to sustain job creation that would be able to absorb additional people entering the labor force each year.

The Indonesian economy had been expected to surpass a Gross Domestic Product (GDP) growth of 7% in 2008, encouraged by the high commodity prices in global markets, strong export volume, as well as robust local markets, which were able to absorb the increasing public purchasing power. By the end of the third quarter

Indonesia began to feel to the effects of the crisis in September 2008, which were marked, among other things, by a tightening liquidity of foreign currencies, especially the US dollar, a tightening liquidity of the Rupiah as well, and a sharp decline in the demand of global export markets.

However, the US financial crisis and stock market crash in the second half of 2008, which quickly spread across the world, had reduced the rapid pace of economic growth. Since July 2008, the prices of the world’s major commodities had fallen in line with the plummeting oil price, which fell from USD148 per barrel to below USD40 per barrel by the end of 2008. The extreme drop was also experienced by the value of equities in stock markets throughout the world.


21

In order to mitigate the broader effects of the crisis, the Indonesian Government and Bank Indonesia took several mitigating measures. So far, these measures succeeded in stabilising macro-economic conditions in the country. For instance, the benchmark Bank Indonesia interest rates were lowered from its peak of 13.0% in 2008 to 8.5% by the end of the year, just 0.25% shy from 8.25% that prevailed at the end of 2007. Inflation had been relatively controlled, reaching an average rate of 11.1% in 2008, compared to 6.59% in 2007. Although the Rupiah fell under heavy pressure during the second half of the year, from a global banking crisis that took out virtually all of US dollar liquidity from the market, the interest rate policies of Bank Indonesia succeeded in suppressing the volatility of the rupiah exchange rate, which subsequently moved in the range of Rp11,000 to Rp12,000 to the US dollar by December 2008, as opposed to the wider trading band of Rp9,500 to Rp13,500 that had prevailed in the fourth quarter of 2008.

22


Nevertheless, several other main macroeconomic indicators also reflected the crisis; including the decline of the nation’s foreign currency reserves from approximately USD57 billion at year-end 2007 to approximately USD52 billion a year after, as well as the current account deficit that is likely to grow, especially with the likelihood of the financial stimulus that has been and will continue to be undertaken by the Government in order to mitigate the effects of a prolonged global financial crisis. In line with all of these developments, the Indonesian economic growth in terms of its GDP growth, declined from 6.3% in 2007 to 6.1% in 2008. Against the backdrop of a non conducive global economy, the national banking sector was still able grow impressively. The aggregate banking credit rose by 29,4% to Rp1,353.6 trillion, while third party deposits grew by 16,0% to Rp1,753.3 trillion. This underscored the soundness of the nation’s banking sector in general, as well as its solid foundation, based on certain key ratios such as Capital Adequacy Ratio (CAR), Non Performing Loan (NPL) and others.

In 2008, Bank Bukopin once again posted an encouraging performance, generating total net interest income of Rp1,468 billion and income before tax of Rp551 billion. These constitute growths of 14% and 1%, respectively, from the corresponding accounts in 2007.

The implementation of GCG at Bank Bukopin remains a key focus of the oversight of the Board of Commissioners, and thus far, the Board of Commissioners continues to note considerable improvement in the implementation of GCG from one year to another.

The Board of Commissioners considers these accomplishments as the result of the hard work of Management and employees of the Bank, reflecting also upon the solid teamwork within Bank Bukopin, in addition to the trust that has been obtained by the Bank from its stakeholders.

Once again, the Board of Commissioners would like to re-express our appreciation to the Management’s achievement in implementing the corporate strategy set forth in the Bank’s five-year corporate plan, which is further described and conducted as the annual corporate budget work plan.

The success of Bank Bukopin in achieving and maintaining an adequate level of growth and profitability is also supported by a clear vision and sharp business strategy of the Bank. Such vision and strategy have been well executed by the Bank in its daily banking operations, founded upon the Good Corporate Governance (GCG) principles of transparency, accountability, responsibility, independence and fairness.

Yet, we will never desist from reminding the Management to be consistently cautious and prudent in managing the Bank. This is moreover important during the global financial crisis, which would be a great challenge to the national economy, including and especially to the banking industry. The principles of GCG implemented by Bank Bukopin shall be continuously one of the backbones of the Bank’s growth in the future.


23

From left to right

Yoyok Sunaryo

Boediarso Teguh Widodo

Sutrisno Iwantono

Saean Achmady

Andi Chaeruddin Muhammad *)

Syamsul Effendi

Independent Commissioner


Commissioner

Commissioner

*) Passed away on 15 March 2009

24




“The success of Bank Bukopin in achieving and maintaining an adequate level of growth and profitability is also supported by a clear vision and sharp business strategy of the Bank”

On 15 March 2009, during the preparation of this Annual Report, the whole staffs of Bank Bukopin mourn the departing Andi Chaeruddin Muhammad, who served as the Bank’s commissioner since June 2001. Bank Bukopin expresses its condolences to the family, hoping that his spirit may rest in peace.

On behalf of the Board of Commissioners, allow me to express our gratitude for the hard work of the Management and the high dedication of the whole employees in carrying out their duties. High appreciation is also expressed to all stakeholders, including the Bank’s business partners, for the trust and cooperation allowing Bank Bukopin to continuously grow in delivering its best value.

Saean Achmady



25

Director’s Report the year ending on “For 31 December 2008, Bank Bukopin gained a net interest income and sharia margin amounting to Rp1,468 billion, while its net income before taxes reached Rp551 billion.

“

Glen Glenardi

President Director

26


W

ith the grace of God Almighty and strengthened by the teamwork and determination of all personnel of the Bank, Bank Bukopin succeeded in building an even stronger foundation and achieved sterling results in 2008. This enabled the Bank to maintain its momentum of sustainable long-term growth in accordance with the mandate of its shareholders and other stakeholders.

Our growing profitability reflects a promising growth trend, despite the less-than-conducive macro economic conditions that had prevailed in 2008. This growth was supported by the Bank’s growing net interest income, in addition to the increase of other operating income by 16% to Rp309 billion. This indicates the profitability of the Bank in a sound level, supported by the effective funding budget control.

Since becoming a publicly held Bank with the listing of its shares on the Indonesia Stock Exchange (formerly Jakarta Stock Exchange and Surabaya Stock Exchange) in 2006, Bank Bukopin has continued to grow its deposits and earning assets strategically and cautiously. The business strategy of the Bank has enabled it to fully utilise its key advantages, and capitalise on market opportunities. This strategy is anchored upon to the Bank’s long-term development blueprint, providing a clear aim and direction towards the business goals and objectives that need to be achieved from one year to another.

Bank Bukopin consistently focused to continue enhancing its intermediating role, reflected from the total channelled loans by year-end of 2008, amounting to Rp23,042 billion or increased by 20% from Rp19,148 billion during the same period previous year. The credit channelling is concentrated to the economic sectors which long since become the strong assets of the Bank, in addition to bearing strategic value to the national interests and economic growth and social welfare. These are such as the agriculture and plantation, energy and transportation, infrastructure, health facilities, as well as the enterprises supporting the national food security, the empowerment of small and medium enterprises and community self-reliance activities such as Swamitra.

For the year ending on 31 December 2008, Bank Bukopin posted a net interest income and sharia margin amounting to Rp1,468 billion and income before tax of Rp551 billion.


27

Emerged in the history of its establishment as a bank formed by cooperative movement, Bank Bukopin grows to be an enterprise that appreciates the needs of grass-root economy vital for most of the population, other than as the backbone of national economy. Provided by this wholehearted understanding, Bank Bukopin is able to offer unique solutions to most of its costumers of micro, small, medium and cooperative business banking segments. On the other hand, Bank Bukopin also understands and provides solution to costumers from consumer banking segment. Those various solutions is packaged and supported by the development and implementation of expeditious banking technology making the Bank as a unique provider. The technology advancement allows the customers of Bank Bukopin to use ATM Bukopin in many banks’ automatic teller machines (ATM) under the network of ATM BCA Prima, ALTO, ATM Bersama and PLUS without any charge and terms. In addition, they also can enjoy the benefits of modern consumer banking services equivalent to any bank service in Indonesia, from the service network, service quality, easiness and convenience. All of these enable Bank Bukopin to be an expert in the micro, small, medium and cooperative business. The Bank has also emerged to be recognised in consumer banking segment as the main source for long-term funding programme. Supporting the penetration in the keenly performed banking business segment, Bank Bukopin by the end of 2008 has service network of 327 offices, including payment point and pick up service, distributed in 22 provinces, supported by 333 ATMs as part of more than 20,000 national network ATM and more than

28


500,000 ATMs PLUS and Visa International around the world, where cash can be withdrawn from any bank’s ATM without charge. The Bank’s offices have also been connected in one real time online network. The network is exclusive of the Swamitra network, a save-credit network for small, medium and cooperative enterprises developed by the Bank since the end of 1998 to response to the Asian financial crisis. By the end of 2008, Swamitra network has increased to become 621 outlets, with 464 outlets having online connection. From the financial ratio aspect, Bank Bukopin has succeeded to maintain the ratios encouraging the soundness of the Bank’s financial in accordance to the prevailing regulations. The condition is sought amidst the pressure in the banking industry affected by the global financial crisis imperilling the world economic growth in 2009, including Indonesia. After calculating the loans and market risks, the Capital Adequacy Ratio (CAR) was slightly lower than previous year, 11.20% compared to 2007 of 12.84%. The Return on Assets (ROA) increased from 1.63% in 2007 to 1.66% in 2008; while Return on Equity (ROE) reached 18.80%, lower than the same period of time in 2007. Loan to Deposit Ratio (LDR) noted a rise from 65.26% in 2007 to 83.60% in 2008. While the gross Non Performing Loan ratio experienced low increase by 4.87%, it could still be suppressed below the Bank Indonesia regulation of 5%. This value was moderately higher than of 2007 by 3.57%. Nevertheless, we are certain that we can

solve and reduce the NPL ratio by implementing accurate recovery steps for each debtor. In addition to achieving a pretty well performance, amidst the increasingly stronger banking competition, Bank Bukopin continuously improves its service quality. Among others is by the continuing implementation of six-step growth strategy, consisting of: focus to the mastered business segments, reorganisation, revitalisation of branches and service quality, sustainable human resource improvement, the implementation of Good Corporate Governance (GCG) through the stringent and effective enforcement of regulations and work procedure, as well as the effort to enhance the banking service resulting in liability-based income. Facing the banking condition, which more or less will be affected by the global recession in 2009, Bank Bukopin has been vigilant on the functions of its corporate governance, risk management and the internal control. Bank Bukopin adhere to banking regulations and procedures, uphold the GCG principles consisting of transparency, accountability, responsibility, independence and fairness, as well as continuously activate the role of various committees in the Bank’s important decision making, including Audit Committee, Remuneration and Nomination Committee and Risk Management Committee. The implementation of risk management all down the line of organisation and transaction is conducted through a comprehensive management of market, liquidity and operational risks, directed to the implementation of risk management as recommended by Basel II. Bank Bukopin also continuously refines its risk management information

system related to the implementation of business operational automation, which is comprised of review activities of various regulations to be in accordance with the international banking principles. It is inescapable that 2009 will put the resilience of national banking sector to the test. Bank Bukopin has prepared some anticipating steps to prevent the worst possibility. Some of the steps are among others to limit the loan growth only to selective financing, toughly monitor the non performing productive assets as well as to seek for early prevention, and control the capital expenditure adjusted to the needs. Entering 2009, Bank Indonesia has issued a nine-step policy that essentially provides a respite for the banking sector in responding to the effect of global economic recession. The policy, particularly concerning the respite of weighed risk calculation of loans for small and medium enterprises, will support the Bank in conducting its intermediating function. We appreciate Bank Indonesia’s steps and will seek to maximise our efforts and resources to remain as the bank that can be relied upon in the situation even less profitable. On this occasion, we would like to report that no change has occurred in the membership of the Board of Directors of Bank Bukopin during the year reported, thus we are certain that the Bank will be able to proceed its sustainable development programme.


29

From Left to Right

Mikrowa Kirana

Sunaryono

Lamira Septini Parwedi

Tri Joko Prihanto

Agus Hernawan

Sulistyohadi DS

Director

Director

30

Director

Director


Director

Director

Glen Glenardi

President Director

“Entering 2009, Bank Indonesia has issued a ninestep policy that essentially provides a respite for the banking sector in responding to the effect of global economic recession.”

Lastly, on behalf of the entire Board of Directors, I wish to convey our appreciation to all the customers and the community for their support and trust bestowed upon us all this time. We express our high gratitude to the Government, Shareholders, Board of Commissioners, Sharia Board of Supervisors and all business partners who share their similar roles in promoting Bank Bukopin. Special thanks I do not forget to tell all employees on their around-theclock contribution, dedication and professionalism in developing Bank Bukopin.

Let us all face 2009 with relinquishment, wise attitude and assertiveness, and always be grateful to God Almighty.

Glen Glenardi

President Director


31

Sharp & Sharp & Strategic Strategic

Bank Bukopin has since the beginning operated with a sharp focus and a clear vision, thus enabling the Bank to take strategic steps in its efforts to fulfil the varying needs of different markets from one segment to another. “Bank Bukopin understands and provides solutions”, has been the motto of Bank Bukopin that has long been the foundation of the Bank’s successes and sustainable long-term growth. Armed with the spirit and propensity to listen and understand deeply the needs of its customers, Bank Bukopin constantly strives to seek for a better solution, develop superior products and provide services that are more satisfying - as a manifestation of the banking activities of Bank Bukopin which are anchored upon its sharp and strategic vision.

Directorate of Small, Medium-scale Enterprises and Cooperatives [34] Directorate of Commercial Banking

[38] Directorate of Consumer Banking [42] Sharia Division [46] Treasury Division [49] International Banking Division [50] Micro Savings and Loans Division [51] Human Resources [52] Directorate of Distribution and Services [56]

Directorate of Small, Medium-scale Enterprises and Cooperatives

A

n alliance that is rooted in our mission, care and core competence.

Bank Bukopin’s competitive advantage in serving

In 2008, Bank Bukopin posted an increase in lending

the needs of Small, Medium-scale Enterprises and

to the SMEs and Cooperatives sector by 8% from

Cooperatives (SMEC) has positioned the Bank in a solid

Rp12,362 billion in 2007. Total Financing of SMEs and

footing as a bank that has a profound concern over

Cooperatives in 2008 reached Rp13,374 billion and

the development of SMEs and Cooperatives, while

contributed as much as 59% of the Bank’s total credit

also serving as one of the banks that is trusted by the

portfolio.

government to act as the implementing bank for the channelling of loans to SMEC sector, especially for the People Business Credit, KUR.

Contribution of the Directorate of SMEC to Bank Bukopin 2008 (Bank without Subsidiaries) in billion Rp except percentage

9,482 (41%)

Credit

13,374 (59%)

Demand Deposits

2,099 (36%) 3,668 (64%)

SMEC

34

Others


Third Party Funds

Savings Accounts

18,076 (66%) 9,269 (34%)

3,569 (94%) 247 (6%)

Deposits

12,107 (69%) 5,345 (31%)

Credit Growth (outstanding) of the Directorate of SMEC (Bank without Subsidiaries) (in billion Rp)

15,000 12,362

13,374

12,000 9,000 8,303

8,029

9,152

6,000 3,000 0

2004

2005

2006

2007

2008

The significant growth of Bank Bukopin’s SMEs and

has earned Bank Bukopin a comprehensive and

Cooperatives in 2008 can not be separated from the

in-depth understanding of SMEs and Cooperatives

business focus and the implementation of a clear

businesses, making it easier for Bank Bukopin in

and effective policy in the development of SMEs and

providing the right, creative and innovative solutions

Cooperatives. The Bank’s business focus that has

as an underlining factor on the Company’s competitive

been consistently applied for almost four decades

advantages in the banking segment for SMEs and

Deposit Growth of the Directorate of SMEC (Bank without Subsidiaries)

Cooperatives. During 2008, the Directorate of SMEs and Cooperatives consistently applied a business policy

(in billion Rp)

based on four strategic steps as follows: a. Direct Marketing. Through the increased acceleration of loans to SMEs and Cooperatives, along with support for policies that focus more on

2007

2008

the segments and the types of businesses in each region and branch offices. b. Partnership and Strategic Alliance. Establish cooperation with those parties who have identical

Demand Deposits 4,748 (40%)


missions through the development of business

Saving Accounts 298 (2%)

Saving Accounts 247 (3%)

with SMEs and Cooperatives, such as professional

Deposits 5,273 (58%)


partnership network with organizations that deal associations, local governments, state and regional owned enterprises, in addition to developing a business network that includes new outlets in strategic locations across Indonesia.


35

c. Improved Service. Simplify the loan process

Bank Bukopin’s role in supporting the business of

with the support of sophisticated information

MSMEC also contributed towards achieving the

technology systems for fast and accurate service to

national food security program as one of the pillars of

borrowers and prospective borrowers.

economic growth and national stability of the Republic

d. Cross marketing towards Customer’s Chain

of Indonesia. Bank Bukopin’s role, which is in no

of Business. Perform profiling of customers,

way small, in the agriculture and plantation sector

suppliers and business partners who are involved

also includes financing of SMEs and Cooperatives as

in a business chain, so that the Company has an

links in a chain of national food security. This often

opportunity to offer banking products and services.

tests Bank Bukopin’s ability in pursuing the business opportunities that demand creativity, innovation

The year 2008 was also marked by an encouraging

and extra effort in creating financing for SMEs and

progress on the performance of some Micro, Small-

Cooperatives as ‘bankable’ and therefore can be

scale, Medium Enterprise and Cooperative (MSMEC)

accounted for. The success of Bank Bukopin in the

new financing scheme that was launched in 2007,

SMEs and Cooperatives agriculture and plantations

such as the Contractor Services Credit and People

segments helps bolster the success of this Directorate

Business Credit that grew 20% and 626% respectively.

of SMEC as a whole.

These two schemes complement the set of products and services for MSMEC financing that continue to be developed and improved by Bank Bukopin, among others, by utilizing the opportunities rolled out by the Government through the President Instruction No. 6 of 2007 on “Policies to accelerate the development of the real sector and the empowerment of MSMEC”, issued through the Ministry of Cooperatives and SMEs.

36


2009 Forecast

In anticipation of the challenging conditions that are

Undoubtedly, 2009 will be a year full of challenges for

expected to prevail in 2009, in which most observers

the sustainability of national economic growth due to

are convinced that the year would not be as profitable

the impact of prolonged global economic recession.

as 2008, Bank Bukopin will tread carefully, and be

However, experience shows that the sector of SMEs

more selective and calculating in developing its

and Cooperatives in general has an extraordinary

business during the year.

resistance towards the fluctuations of the world economy. This has encouraged Bank Bukopin to improve services in the sector in order to secure the probability of continued growth opportunities. Both the government and Bank Indonesia has issued various policies that essentially anticipate and mitigate the impact of global economic recession on the national economy. Most of these policies are intended to keep the momentum of growth of SMEs and Cooperatives, and enable banks to undertake their financial intermediation in this sector. Bank Bukopin has responded positively towards this policy and continues to expand its MSMEC lending.


37

Directorate of Commercial Banking As a bank that also provides large scale lending, the

Our declining third-party funds generation in

role and function of the Directorate of Commercial

2008 notwithstanding, Bank Bukopin was able to

Banking are keys. An in-depth knowledge of the

counterbalance this decline by the collection of public

business segment being targeted, as well as the ability

funds through means other than savings, demand

to provide solutions for the financial requirements of

deposits or term deposits. This accumulation of funds

major corporations are the key factors that are relied

was done through transactional banking services such

upon by the Directorate of Commercial Banking in

as the Payment Point On Line Bank (PPOB) service for

pursuing its lending opportunities. On the other hand,

the payment of electricity bills, and the Bukopin Cash

the Directorate of Commercial Banking also place an

Management (BCM) service, both of which achieved

active role in generating third-party deposits from this

significant growth in 2008.

segment, coming from large corporations and stateowned companies that are reputable.

In parallel with the strategic and tactical business development model of Bank Bukopin, the Head

In 2008, the Directorate of Commercial Banking

Office assumes total control over the operations of

posted encouraging results. Total disbursement of

Commercial Banking. This is to enable the branch

loans grew by approximately 46% in 2008, reaching

office network of Bank Bukopin to totally focus on the

Rp7,507 billion compared to Rp5,154 billion a year

MSMEC segment, and mainly in the larger cities, the

The Directorate of Commercial Banking plays a key role in Bank Bukopin’s efforts to strike a balance between third-party deposits and loans outstanding.

ago. However, in terms of funding, the total realized

Consumer Banking segment. This strategy has proved

amount of Rp9,951 billion in 2008 was still below

to be effective to the Banks’ penetration of its three

Rp13,466 billion that was achieved in 2007. This was

banking segments that are being served. Specifically

due to the redemption of deposits in large amounts

for the commercial segment, the centralization of

from a number of individual and corporate customers

the management of the Directorate of Commercial

in connection with the tightening financial liquidity as

Banking in the Head Office has been deemed to be a

a result of the global financial crisis that had started to

correct move. This can be seen by the increase in the

spread since the third quarter of 2008.

volume of commercial credit that as a whole is being handled directly by divisional units of the Head Office.

38


Nevertheless, the development of the Directorate

The various primary activities of Directorate of

of Commercial Banking business is undertaken in

Commercial Banking in 2008, amongst others were:

accordance with the Bank’s policy in executing

- To help support the government program in

its business priorities, in that, the Directorate of Commercial Banking is second in line to the Directorate of SMEC for lending, and also second in line to the Directorate of Consumer for funding.

successful developments through the financing of Power Plants, Infrastructure and others. - Develop and upgrade the service features of the Bukopin Cash Management through cooperation with a number of large customers.

Throughout 2008, Bank Bukopin continued to improve

- Develop and upgrade the service features of State

and strengthen the funding structure of the Directorate

Revenue Module as tools for payments of PBB

of Commercial Banking, including through increased penetration of state-owned companies as well as major

(land and building taxes) and related BPHTB. - Develop and upgrade Public Services (in

private corporations for funding products. To this end,

cooperation with partners and the development of

the Bank intensified its cooperation with third-party

the Technology aspects)

Another achievement by the Directorate of Commercial Banking in 2008 was the increasing fee based income that was derive from transactional banking services.

as well as its product development initiatives, such as by capitalizing on the Bukopin Cash Management service, or making Bank Bukopin as the primary Bank for the banking transaction of these corporate

- Work in tandem with Pertamina for the implementation of Host to Host and training application. - Cooperate with PLN with respect to the 10,000

customers. The number of customers of this service

megawatt program and syndicated project

reach 263 corporations, both private and state-owned.

financing for the implementation of Tax on Imported Goods. - Organized workshops and trainings courses for employees in the Directorate of Commercial Banking.


39

40


Increasing Transactional Banking

Improvements were also made in the Custodial

Another achievement by the Directorate of

Service, with an increase of 42.18% in the amount

Commercial Banking in 2008 was the increasing

of total assets of the portfolios that are kept and

fee based income that was derive from transactional

administrated by Bank Bukopin, from Rp763 billion in

banking services. The growth potential of this fee

2007 to Rp1,085 billion in 2008.

based income has been realized in several stages, as can be seen from the increase of fee income from trade finance transactions by as much as 89.01% during the year. Bank Bukopin’s foreign exchange transactions also increased by 8.81% in 2008.

Loan Growth Commercial (Bank without Subsidiaries) (in billion Rp)

7,507

8,000 7,000 6,000 4,630

5,000

5,154

4,000 3,775

3,000

4,326

2,000 1,000 0

Deposit Growth of the Directorate of Commercial Banking (Bank without Subsidiaries) (in billion Rp)

Source of Fund

2007

2008




Saving Accounts 91 (1%) Deposits 7,776 (78%)


41

Directorate of Consumer Banking “Bank Bukopin is wokeee…!!!” (ok), that was the

base of significant size and growing in numbers; and

message from advertisements broadcasted over the

providing a banking service that is tailored to the

radio and television throughout 2008. The same

needs of the metropolitan consumers, starting from

message was also conveyed through advertisement

their lifestyles to shopping habits and daily banking

newspapers, magazines, and even on giant billboards

transactions.

on road sides and prime locations. In the last few years, Bank Bukopin has become more active in

As a bank with the motto of “Understanding and

enhancing its brand recognition as the reliable

Provide Solutions”, Bank Bukopin has subsequently

consumer bank that is just as appealing as top-tier

succeeded in developing a consumer banking

private national banks and even international banks.

business that has gradually captured the hearts and minds of customers, and more importantly, inspired

Since the Directorate of Consumer Banking was

the confidences of these customers in the numerous

established in 2000, Bank Bukopin has never swerved

advantages of the Bank’s consumer banking services.

from its primary objective, that is, to build a consumer

Today, more and more individual customers are

business that it at par with other first class consumer

benefitting from the consumer banking service of Bank

banks. The meaning of a first class consumer banking

Bukopin that is supported by advanced and superior

business refers to banks that have a loyal customer

banking technology in its class.

To grow the image of Bank Bukopin as Consumer bank of choice that is

“wokeee…!!!”

42


Physical and Cultural Transformation of Bank Bukopin

In addition to the physical changes related to the

In 2008, the Directorate of Consumer Banking began

Bukopin has also improved its Human Resources,

to transformed its working culture, especially that

by increasing the skills and knowledge of the

which is related to customer service in the area of

Bank’s employees in their respective fields, and by

consumer banking business. First, there was the

recruiting approximately 300 additional personnel

complete physical make-over, by modernizing the

in 2008. Bank Bukopin has equipped its front liners

look and feel of the Bank’s main branch offices and

with training programs that include selling skills,

sub-branch offices in central locations and especially

product-knowledge training as well as various self-

areas with high volume of traffic and visibility. These

improvement programs on a continuing basis. The

changes are meant to enhance the brand appeal of

recruitment of Relationship Officers was undertaken

Bank Bukopin as a modern and sophisticated bank,

as a marketing strategy to generate more third-party

worthy of the attention and trust of the banking public

funds. Whereas collaborative workshops throughout

in Indonesia.

regional business units and branch offices resulted in

relocation or renovation of branch network, Bank

stronger synergies between working units.

Winner of the Prize Draw for the New BMW 320i, in Stage IV of January Period

Product Development Supported by a Strong Communications Program A variety of novelty programs related to the enhancement of product features and benefits were The opening of Priority Banking centers along with the

undertaken by the Directorate of Consumer Banking,

relocation of several branch offices to more strategic

one of which was the points reward program that

locations were also marked with the standardization

is given to customers opening a new account or

of the basic look and interior design of the offices.

increasing the balance of their savings accounts. This

A standardization of design, look, color, and size of

program used vouchers that are instantly redeemable

service areas that has been applied uniformally and

for roughly 1,000 consumer good prizes, and was

consistently across the Bank’s service platform and

successful in growing Bank Bukopin SiAga savings to

office network, is expected to produce an image as

approximately 500,000 active accounts for the year

well as corporate identity system of the Bank that are

ending 2008.

consistent, strong and inspiring. Bank Bukopin ANNUAL REPORT 2008

43

In 2008, the Directorate of Consumer Banking

On the other hand, to provide an alternative choice

launched two new savings account products, i.e.

for customers, especially in the use of the Card

Bukopin SiAga Premium Saving Account in March and

as a payment tool, since 2003 Bank Bukopin has

Bukopin SiAga Bisnis Saving Account in June. These

cooperated with the Visa International network to

two products strengthened Bukopin’s overall savings

provide the Bukopin Visa Credit Card.

products and have proved to increase the number of new depositors who are drawn to more attractive

Holders of the Bank Bukopin credit card, in addition

premium offers.

to transacting for the purchase of goods and services in merchants, can also withdraw cash from any ATM

Furthermore, the Directorate of Consumer Banking

of the PLUS network, at home or abroad. The Bukopin

also set up products and services that are best suited

Visa Credit Card comprises of the classic, gold and

to the needs of the customers; both on a national

platinum credit cards.

and local scale, set up programs such as Bukopin SiAga Savings Prize Program that is in its IV period;

To complement its credit card services, in November

as well as enacting an intensive funding product as

2008 Bank Bukopin cooperated with the Master Card

one of the forms of evaluation and appreciation from

network to launch the Master Credit Card, comprising

the management towards the performance of the

of the classic and gold cards.

marketing activities. As at year end 2008, Bank Bukopin had more than The development of products that are focused on the

43.000 credit card holders. The year 2008 was a

needs of the customers is also supported by advertising

milestone year for the Bank’s credit card program, in

programs as well as branding strategies that are well

which the management of the Bank commits itself to

integrated on a national and local level.

(i) improving the quality of Bank Bukopin’s credit card service, (ii) enhancing the infrastructure and human

In order to provide greater access and comfort for

resources of the credit card business, and (iii) initiating

customers in transacting or withdrawing from their

the migration process of the credit card technology

savings accounts, since 2001, Bank Bukopin has

system from the use of the magnetic stripe to the EMV

offered the SiAga Visa Electron Card. The Card allows

(Europe Mastercard Visa) chip technology, in order to

customers to purchase goods and services by using the

increase transaction security.

Visa network or withdraw cash from any ATM network that bears the logo of PLUS, ALTO, ATM Bersama and ATM BCA Prima without any charge or restrictive condition.

44


I

n 2008, the Directorate of Consumer Banking launched two new savings account products, i.e. Bukopin SiAga Premium Saving Account in March and Bukopin SiAga Bisnis Saving Account in June

Favourable results

planed manner. Several majors that had been taken to

Supported by well-developed marketing

date, include the followings:

communications program, sales program, as well

- Turning Bank Bukopin into a One Stop Financial

as improvements in services that are more targeted

Services bank by providing a complete range

and integrated, the Directorate of Consumer Banking

of products and services in line with customers

generally performed well, growing third party funding by 47% from that of 2007. On the other hand, consumer

needs. - Sustain the Bukopin SiAga Savings Accounts with

credit grew by 21% year-on-year. In addition to that,

Prizes and Free Cash Withdrawals program both

there was a significant increase in the cash withdrawal

at national level and local level under tactical

transaction at the Bukopin ATM and associate ATM

programs that are tailored made for local needs

networks that have participated in Bank Bukopin’s Free

and conditions.

Cash Withdrawal program since May 2007.

- Continue to develop products and services for Priority banking segments, including: collaboration

Going forward, Bank Bukopin will continue to develop

with asset managers, securities and insurance

its consumer banking business in a focused and well-

firms.

Deposits Growth of the Directorate of Consumer Banking (Bank without Subsidiaries) (in billion Rp)

Demand Deposits 11 (0%)

2007

Saving Account 2,675 (48%)

Demand Deposits 16 (0%)

2008


Saving Account 3,778 (46%) Deposits 4,332 (54%)

Loan Growth of the Directorate of Consumer Banking (Bank without Subsidiaries) (in billion Rp)

2007

Home Mortgage Loan 784 (48%)

Home Mortgage Loan 981 (50%)

Motor Vehicle Loan 489 (30%)

Motor Vehicle Loan 540 (27%)

Home Equity Loan 37 (2%)

2008

Home Equity Loan 53 (3%)

Credit Card 185 (11%)

Credit Card 271 (14%)

Others 138 (9%)

Others 131 (6%)


45

Sharia Division

I

n 2008, Bukopin Sharia booked total third-party savings that increased by approximately 68% and total financing that grew by 60% to Rp599 billion and Rp735 billion, respectively.

46


Bank Bukopin continues to grow its sharia banking

The continued improvement in the performance of

business rapidly. The total assets of Bukopin Sharia

Bukopin Sharia in many ways reflected the promising

increased by as much as 33% from Rp640 billion in

growth of the sharia business, especially supported by

2007 to Rp849 billion at year-end 2008. Meanwhile,

the development of sharia-based products and services

total financing increased by 60% from Rp458 billion

that meet the needs of customers, in addition to the

to Rp737 billion year on year.

availability of service outlets in the branch and subbranch offices of Bank Bukopin.

Loan Growth of the Sharia Business Unit (in billion Rp)

800

735

700

Aside from the existing sharia financing products, such as Murabahah, Mudharabah/Musyarakah and Istishna, along with sharia savings products that comprise of iB Giro, iB SiAga savings, iB Hajj savings, iB Deposits,

600

and iB Dollar Deposits, Bank Bukopin continues

500 400

to broaden the range and type of its sharia banking

458

363

services. As part of the Islamic Banking (iB) network which is growing nationally under the supervision and

300

control of Bank Indonesia, Bank Bukopin has launched

304

200

new sharia banking products in 2008, including iB

215

Savings Plan, iB Forex Remittance (international cash

100 2004

2005

2006

2007

2008

remittance service) and Collection, iB Sharf (foreign exchange transactions), domestic letter of credit (iB SKBDN) and letter of credit (iB L/C).

Third party savings rose by 68% from Rp357 billion in 2007 to Rp599 billion at end year 2008. While,

The launching of new sharia banking products has

the profit of Sharia Business Unit for the financial

given our customers the opportunity to be served with

year ending 31 December 2008 was Rp17 billion, an

services that are custom made to fit more of customer

increase of 113% from Rp8 billion in 2007.

needs.

Third Party Funds Growth of the Sharia Business Unit

Profit-and-Loss Growth of the Sharia Business Unit

(in billion Rp)

599

600 500

20

17

15

400

338

10

357

300

8 5

200 100

(in billion Rp)

4

212

2

0

145

0

(2)

-5 2004

2005

2006

2007

2008

2004

2005

2006

2007

2008


47

Bukopin Sharia also recognizes the human resources development aspects in its efforts to ensure sustainable long-term growth. To that end, a number of sharia banking training programs were intensified throughout 2008, including, among others, the analysis training for Account Officers, sharia banking basic training, basic training for credit knowledge, and training of PSAK (the Indonesian Standard for Financial Accounting)

Spin-off of the Sharia Business Unit Bukopin Sharia has one important agenda, which is to elevate the status of the Sharia Business Unit (SBU) to become a Sharia Commercial Bank (SCB) by transferring the assets and liabilities to PT Bank Syariah Bukopin (BSB), which has been converted from Bank Persyarikatan Indonesia (BPI). With this change in status, it is expected that the development of sharia business will be more conducive and focused. Therefore, the activities of Bukopin Sharia sector over the past few months had mainly focused on the conversion program of SBU into Bank Syariah Bukopin, which became operational in March 2009, with Bank Bukopin owning 65% share of the sharia bank. In the months prior to the operations of BSB, the Bank Bukopin Sharia Business Unit continued to maintain and in some cases even increase the growth of its sharia banking portfolio optimally.

48


Treasury Division

I

ntensifying liquidity management that is of high quality, to derive optimum profitability from available sources of funds.

The year 2008 was a year of challenges in the

Aside from the income received on the interest-earning

implementation of activities within the Treasury

placement of funds, the Treasury Division also earns

Division. The financial crisis that occurred globally,

fee income from buying and selling foreign exchange

which had in turn impacted the Indonesian economy,

notes or bills. These foreign exchange transactions

was a factor that contributed to the fluctuation of

were carried out primarily on behalf of customers,

prices of the instruments that were used in the daily

with the remaining transactions carried out as part

transactions of Treasury. In addition, the monetary

of the Bank’s management of its net open positions

crisis also resulted in the tightening of market liquidity,

that have to be within certain threshold under Bank

due to the loss of confidence among the players of the

Indonesia regulations.

money market. All of these were factors influencing the application of the strategy and performance of the

The activities of Bank Bukopin’s Treasury are mainly

Treasury Division of Bank Bukopin for the year 2008.

focused on transactions in the money market, foreign exchange, and capital markets, primarily in the trading

Within the constraints of liquidity, the selection of

of marketable securities. From its activities in 2008,

the right financial instruments as part of treasury

the Treasury Division generated total revenues of

management becomes crucial. The chosen instruments

Rp95 billion, of which Rp69 billion were in the form

must have a high liquidity feature that it can be

of interests earned and the remaining Rp26 billion in

redeemed at any time, yet still provide optimum

the form of fee based income.

returns. With that in mind, the Treasury Division chose the Bank Indonesia Certificate (SBI) as its

Before the recovery of the global financial markets,

main instrument for Rupiah liquidity management.

and with the low interest rate environment globally, it

Throughout 2008, the Bank’s average volume of SBI

would be difficult for the Treasury Division to sustain

was Rp2,950 billion.

its interest earning capacity. For that reason, in 2009, the Treasury Division will increase the portion of fee

In the mean time, the decline in the market prices

based income, which is expected to increase with

of several marketable securities in circulation has

the growing volume of transactions by customers. As

made the rate of returns attached to those securities

such, the role of the Treasury Marketing Units will be

more attractive. To take advantage of this higher rate

intensified, mainly to increase volume of transactions

of returns, the Treasury Division started to gradually

in areas outside of Jabodetabek.

increase the volume of placement of funds in the form of notes, primarily Government Treasury Bills. As a result, the Bank’s average volume of marketable securities held had increased from Rp779 billion in January 2008 to Rp1,333 billion by December 2008.


49

International Banking Division For more than 12 years since becoming a foreign

The products and services of the Bank’s trade finance

exchange bank, Bank Bukopin has successfully

and remittances are more comprehensive today

built relationships and enhanced its reputation in

in helping and simplifying customers to deal with

the field of correspondent banking, both domestic

partners in and outside the country. These products

and international. This can be seen by the growing

and services are widely known and are used by

correspondent network over the years, which

medium and large state-owned companies as well as

today comprises of more than 450 of the largest

private national companies.

correspondent banks worldwide focusing on exportimport from and to Indonesia, vis-a-vis the American

The products and services of Bank Bukopin in trade

continent, Europe, Asia, Africa and Australia.

finance include Domestic L/C’s (SKBDN) and Import

This wide network allows Bank Bukopin to serve

L/C, transferring the rights of export documents, and

customers dealing with business partners abroad,

other trade finance products. Additionally, customers

both for export and import, as well as facilitate the

can take advantage of various financing facilities, such

foreign exchange traffic between Indonesia and

as bankers acceptance, pre-export financing, post-

other countries, especially through the Remittance

import financing, and others.

services. In addition, the recognition of cooperation the correspondent banks can also be seen through

In 2008, the volume of trade finance of Bank Bukopin

refinancing facilities, trade finance, bankers

increased by 136% to USD845 million, from

acceptance and others.

USD357 million in 2007. Along with this increase, fee income from trade finance activities also increased by

Along with the development of the correspondent

154%, from Rp13 billion to Rp35 billion. While the

network, the International Banking Division provides

volume of Remittance in 2008 was USD766 million

products and services for a variety of corporate

(incoming) and USD1,070 million (outgoing).

and institutional customers, both of national and international scale.

S

ince the C2C service was introduced to the Swamitra network, it has become more convenient for Indonesian migrant workers to remit cash to virtually all parts of Indonesia.

50


Micro Savings and Loans Division Undeniably, the informal sector of micro businesses

the characters of the micro business players who

today account for the largest employment opportunity

tend to operate as a one-man-show; and to provide

for millions of people in Indonesia who could not

comprehensive funding solutions, which also include

be absorbed by the formal sector. Even through the

consulting services in financial management.

recent global monetary crisis and ensuing economic recession, the micro business sector that involved

Supported by more than a decade experience of

grassroot economies and touched virtually every

managing the Swamitra savings and loans operations

facet of community life, could be relied upon not to

which has reached 621 units by end of 2008, Bank

be affected by this crisis. In every economic crises

Bukopin has a proven expertise in credit services for

throughout history, the micro business sector has

small scale businesses. The micro business segment

time and time again proven to be extraordinarily

itself exists between the Swamitra and SME (small

resilient against even the most challenging economic

and medium enterprise) segments. This means that

turbulence.

the amount of credit disbursement is higher than the Swamitra credit limit, but lower than the SME

Before 2008, Bukopin’s micro business banking unit

minimum credit.

was still under the MSMEC Directorate that handles banking for Micro, Small, Medium-scale Enterprise

For the initial stage, the Bank has opened five outlets

and Cooperatives (MSMEC). However, since August

in West Jakarta and Tangerang. The next target will be

2008, the Micro Business Division was separated and

the opening of as many as 34 outlets in Jakarta and

became a business unit of its own.

its surrounding areas, as well as 77 additional outlets throughout Java and Bali.

Bank Bukopin’s basic concept for the development of micro business banking services is to ensure that

With the opening of the savings and loans outlets for

its financial intermediary role can actually reach

micro businesses, a strong foundation has been laid for

across one of the nation’s economic sectors that

the expansion of a comprehensive service in the Micro

is most dynamic, flexible and widespread. This is

Banking segment for the years to come.

achieved by bringing the Bank’s services nearer to the market participants of this segment, among others, by expanding service points in several strategic locations in the micro businesses centers, and understanding

T

hroughout history in every economic crises, the microbusiness sector has proven to be extraordinarily resilient against even the most challenging economic turbulence. Bank Bukopin ANNUAL REPORT 2008

51

Human Resources

I

ntegrated Development of HR, in Line with the Six Strategic Development Steps of Bank Bukopin.

Since Bank Bukopin implemented the six priority steps

The following is a brief report of the above-mentioned

as business development strategy, the development of

scopes of work carried out during 2008.

human resources has been suited accordingly to this policy. There are five main scopes of work associated

HR Policy

with the development and management of human

Bank Bukopin continues to seek improvement in

resources at Bank Bukopin, namely:

human resources policies, among others, by carrying

(i) human resources policy, (ii) industrial relations,

out analysis of approximately 300 positions in Bank

(iii) assessment and employee relations, (iv) education

Bukopin, to evaluate approximately 160 key positions

and training, and (v) administration and information

so as to determine their responsibilities, to work on

systems.

improving the remuneration system and develop information systems of HR or Human Resources Information System (HRIS).

52


In 2008, the activities carried out in HR policy also

In 2008, Bank Bukopin handled 10 bipartite

include the development of corporate culture marked

industrial relations issues, five of these cases reached

by the formulation of Bank Bukopin’s new corporate

mediation level of the Department of Manpower and

culture, in the form of statements of the philosophy,

Transmigration (tripartite) and two cases were settled

vision, mission, principles and core values of the Bank

at the Industrial Relations Court (PHI). Meanwhile, for

that have been tailored to the long term strategy and

the development of industrial relations, Bank Bukopin

development plan of Bank Bukopin. The proclamation

successfully completed 36 cases during 2008, or an

of this new culture was done by the President Director

average of three cases per month.

on 10 July 2008 coinciding with Bank Bukopin’s 38th anniversary. Furthermore, the Bank also successfully

In Outsourcing, Bank Bukopin continues to evaluate

completed the Bank Bukopin Code of Ethics book,

the position of outsourcing and also the type of

which is a guide to the standard behavior for the Board

cooperation with the outsourcing company. In 2008,

of Commissioners, Board of Directors and its entire

evaluations on the working agreements with nine

staff.

outsourcing vendors were conducted, which resulted in improvements in the terms of agreements. Overall,

In 2008, several improvements have been conducted

Bank Bukopin recruited 395 personnel through

on the policy for remuneration system, employee

outsourcing in 2008, for eight types of functions or

benefits, office facilities, performance assessments and

positions that included 161 personnel for RO Funding,

HRIS.

78 personnel for Back Office and Collection, 69 personnel for Customer Service and Teller and 45

Industrial Relations and Outsourcing Management

personnel for Security Unit.

The aspects of industrial relations and outsourcing

Assessment and Employee Relations

management (labor outsourcing) has become

Assessment activities and employee relations are

increasingly important with the implementation of

intended especially for the fulfillment and needs

the principles of Good Corporate Governance in

of Bank Bukopin and for the employee’s fulfillment

the entire scope of Bukopin Bank activities, among

themselves. Thus the following were carried out :

others, placing the utmost importance for a transparent

(i) comprehensive mapping of the employees’ needs

and equitable relationship between the Bank and its

for 2008 and their development in the next few

stakeholders.

years, (ii) reviewing employee recruitment strategies, (iii) providing training for Work Force Planning for

Industrial relations is conducted with the cooperation

managerial level, and the development of a general

and coordination with related parties in the

staff skills assessment unit (iv) to study the change of

Department of Manpower and Transmigration of

the status of contract employees to permanent, and

the Republic of Indonesia, and the scope of work

to upgrade workers from outsourcing into contract

includes:

employees, (v) implementing Employee Satisfaction

- handling of the day-to-day industrial relations

Survey, (vi) providing comprehensive facilities and

issues

infrastructure, and (vii) disseminating information on

- understanding of industrial relations issues

human resource management program through an

- development of bipartite and tripartite industrial

integrated internal communications.

relations - training and socialization of industrial relations.


53

A mapping effort for the employees’ needs, with

In addition, Bank Bukopin successfully conducted a

detailed qualifications required for each position,

training program called Leaders-to-Leaders that was

have been carried out in the last few years, and have

also attended by all the Directors and top management

increasingly provided a clearer picture of how Bank

personnel. No less than 30 participants starting from

Bukopin should develop its capabilities, whether from

the Head of Division upwards attended the new

internal or external sources, and the job positions that

program which was held for the first time in 2008.

are critical to the business development plan. Training is also provided to support more intensive In 2008, Bank Bukopin recruited 276 permanent

team cooperation. Team Building trainings are not

employees through the assessment process as

only provided in Jakarta, but also throughout regional

described above. In addition, Bank Bukopin also

branches. Similarly the benefits of the Emotional

appointed 60 permanent employees through the

Spiritual Quotient (ESQ) training program can be

Officer Development Program and the Special Hire

increasingly felt by the number of employees that have

Program.

followed the program. In 2008, as many as 312 employees took the ESQ program.

Education and Training Education programs and job training of Bank

All told, as many as 1,967 employees and leaders of

Bukopin are aimed mainly to (i) increase employee

Bank Bukopin took part in the education and training

competency, (ii) shore up leaders and team

programs at a cost of Rp25 billion for the 2008 fiscal

cooperation, (iii) increase employees productivity,

year. The cost is equivalent to 5.58% of the cost and

(iv) cultivate motivation through career and self

benefits of the employees of Bank Bukopin for 2008.

development, (v) support the learning process, and (vi) help ensure that every employee understands the

Employee Composition by Education

information disseminated in the work environment of Bank Bukopin. In 2008, Bank Bukopin completed the 14th Officer Development Program (ODP) with 52 officers graduated, whereby the emphasis this time was in marketing.

No

Education


Permanent

Contract

Total

1

High school and equivalent

664

651

1,225

2

D-3 (Diploma degree)

913

175

1,088

3

S-1(Bachelor degree)

1,213

624

1,837

4

S-2 (Master degree)

79

12

91

2,869

1,372

4,241

TOTAL

54

2008

Administration and Information System

In 2008, Bank Bukopin selected one of the leading

The administration of employee data is integral to

softwares in the world, and worked together with an

the overall function of HR. The development of an

information technology service company that is highly

integrated human resources information systems

experienced in the development of HRIS (Human

(HRIS), will lead to a more effective human resources

Resources Information System). The development of

management.

the HRIS (called Bukopin HRIS) is expected to be completed in stages (modular), starting in 2009.

Employee Composition by Position

Employee Composition by Age

 2008 No

POSITION

Permanent

No

Contract

Permanent Contract

Total Total

%

Total

%

2008

AGE

Total

1

<= 20 Year =

0

1

1

1

General Manager

7

0.2

0

0.0

7

2

>20 Year <= 25 Year =

26

308

334

2

Divisional Head

35

1.2

0

0.0

35

3

>25 Year <= 30 Year =

702

517

1,219

3

Head of Branch

40

1.4

0

0.0

40

4

>30 Year <= 35 Year =

675

231

906

4

Manager

171

5.9

1

0.1

172

5

>35 Year <= 40 Year =

449

216

665

5

Coordinator

185

6.4

11

0.8

196

6

445

82

527

6

Account Officer / Relation Officer / Staff

>40 Year <= 45 Year =

808 58.9

2,998

7

>45 Year <= 50 Year =

401

10

411

7

Non Clerk

8.4

552 40.2

793

8

>50 Year <= 55 Year =

171

5

176

2,869 67.6

1,372 32.4

4,241

9

>55 Year =

0

2

2

2,869

1,372

4,241

TOTAL

2,190 76.3 241

TOTAL


55

Directorate of Services and Distribution

T

he vision of the Directorate of Services and Distribution is to become a reliable working partner that provides value added services to the Bank’s stakeholders, both internally and externally.

The scope of work of the Directorate of Services

applying Information Technology (IT) governance;

and Distribution (DSD) includes the functions and

standardised exterior and interior design for branch

responsibilities over activities of (i) service delivery,

offices and service outlets; automated and centralised

(ii) business support, (iii) management of information

banking transaction process; and also introducing

technology, (iv) management of outlets and distribution

public payment service (for electricity bills) with a

channels, (v) control of operational risks, (vi) control

centralised payment point on line system.

over cost involving distribution channel operations, and (vii) formulation of operational guidelines for

In carrying out these functions, DSD relied heavily

products and services of the Bank.

on the IT system as a service support tool as well as for business growth. Over the years, Bank Bukopin

For that, the vision of the DSD is to become a reliable

has been known for its products and banking services

working partner that provides value added services to

that are supported by excellent and reliable banking

the Bank’s stakeholders, both internally and externally.

technology. In 2008, the information technology

While its mission is to give the best service that

system of Bank Bukopin, which is online, integrated

matches or exceeds customers’ expectations, in the

and fully conforming with IT governance policies of

most efficient manner and adhering to the principles

international standards, a supported the achievement

of prudential banking. Furthermore, at Bank Bukopin

of several business targets in the consumer banking,

we are expected to uphold integrity and transparency

commercial banking, and the Micro and SMEC

and continuously maintain a harmonious working

banking segments.

environment. In the consumer banking segment, the role of IT is

56

In 2008, several initiatives of the DSD had been

critical for the expansion of Bank Bukopin Priority

carried out in tandem with business expansion and

and Bukopin ATM outlets; the management of

business targets that were set for the year. Amongst

Bukopin MasterCard credit cards; the implementation

several significant results, Bank Bukopin managed to

of air ticket purchase service via ATM as well as

put into practice a fast, simple and safe service culture;

fund transfers through SMS banking; in addition to


expanding consumer banking products which includes

Plans for the Future

SiAga Premium Savings, SiAga Bisnis Savings, Savings

In the coming years, Bank Bukopin expects to

Plan, Smash “Wokeee...!!!” Vouchers and additional

continue to improve its banking services in line with

e-banking features.

the demands of the time. This requires the support of service and distribution that are increasingly

In the commercial banking segment, DSD is

convenient, quick and reliable. Various system

expanding the IT support system as well as introducing

developments, working procedures as well as

prepaid purchases of PLN electricity; payment point

adequate risk management controls have been

for on-line banking; Bukopin Cash Management

prepared to support the Bank’s sustainable growth.

services, and various Custodial products and services.

Various applications which are being practiced at

For the new Micro Business banking segment (formerly

the moment covers, among others (i) applying

known as micro, small, medium-scale enterprises

International Standard ISO 27001 in IT management;

and cooperatives), DSD succeeded in the developing

(ii) increasing speed and simplifying work through

and implementing the M-ELP (Micro Electronic Loan

standardised service at all Bank Bukopin outlets;

Processing) system.

(iii) applying “best practice” in operational risk

Enhancing Services at Branch Office

management in accordance with the Basel II Accord.

One of the key steps in the reorganising of the strategic functions of Bank Bukopin branch offices, that began in 2008, was the designation of all branches as well as all service outlets as a “point of sales” that totally supports the marketing of Bank Bukopin products and services, and to simplify banking transactions for customers.


57

Solvent and sustainable are the distinguishing features of Bank Bukopin that is risk-aware, trustworthy and caring. Through rigorous risk management and good corporate governance, Bank Bukopin strikes an even balance between risk and reward, between innovation and tradition, between ambition and prudence, and between revenue and corporate social responsibility. With this balance, Bank Bukopin is able to lead, energise, adapt, execute, initiate, and ultimately serve with integrity - all of the hallmarks of a strong brand that represent a solvent and sustainable.

Risk Management [60] Corporate Governance [66] Corporate Social Responsibility [106]

Solvent && Solvent Sustainable Sustainable


59

Risk Management At the moment, conditions in the banking sector is experiencing rapid growth that led to an increasing complexity of banking activity and also the importance of good corporate governance and sound risk management that can be relied upon. The implementation of both is one of the important factors that have come to the attention of the investors when assessing investment targets, other than the assessment of the financial condition. Bank Bukopin, in the development of risk management always adheres to Bank Indonesia regulations in the implementation of risk management for local banks and also from documents produced by the Basel Committee on Banking Supervision, especially the concept of Basel New Capital Accord (Basel II). The management of risk in Bank Bukopin is applied to the entire scope of activities of the Bank, which is based on the balance between the functions of business operations with risk management. In implementing good policies and good risk management, it is hoped that risk management will become a working partner for business units in obtaining optimal results from the operations of the Bank. In order to develop risk management in line with the standards of international banks, Bank Bukopin is continuously developing and improving the risk management framework and the system of internal control structure that is integrated and comprehensive, so that it can provide information regarding potential risks in the early stages and take adequate steps to minimize its impact. This framework will be enforced in policies, procedures, transaction limits, authority and regulations, and various other vehicles that are associated with risk management that is valid throughout the scope of the banks’ business activities. To ensure that policies and procedures are in accordance with the development of the business, evaluations must be done periodically corresponding to any changes in the risk parameter.

Risk management practice Organisation Bank Bukopin has appointed a director of Risk Management, Compliance and Human Resource Development who is responsible in managing risk. To assist in managing Risk Management, Bank Bukopin

60


also created a risk management workforce called Risk Management Division (RMD). This division is independent of those divisions responsible for operational/business functions and audit. The main responsibility of RMD is to introduce an applicable system in risk management which is efficient and effective and at the same time to do research on the Risk Management application strategy in accordance to Bank Indonesia regulations no.5/8/2003 regarding Risk Management Practice for private banks. The RMD is supported by 4 sections, consisting of Market Risk Management section, Operational Risk Management section, Credit Risk Management section and Risk Research section. In the framework of helping an effective undertaking for RM process and system, Bank Bukopin has also created RM Committee. As a supplement, this committee will be aided by RM support committee and also by New Product and Activity committee. These aforementioned committees are ad hoc in nature and their members includes representatives from different business groups and divisions. Other than those above-mentioned committees, the Bank also created a Budget Committee who is responsible to the Directors in preparing and monitoring the annual budget, the medium and long term strategies. Additionally, an Asset and Liabilities Management Committees was also set up to be responsible, amongst others, in fixing the level of interest rates and liquidity strategy.

Information System In 2000, Bank Bukopin, developed an internal credit risk ‘scoring’ model for consumer business and continuously strives to improve this model so that it will keep up with progress and also to fulfill the prevailing regulations and standards. In supporting the implementation of RM practice in 2001, Bank Bukopin has developed a risk Management system that adheres to Bank Indonesia’s policies and international standards such as the Basel II Accord. The systems that have been developed in the framework of the control of risk include: • Measurement and allocation of capital for interest rate risk • Measurement for liquidity risk models • Measurement and allocation of capital for foreign exchange risk • Asset and liabilities risk management model

• Database and operational management risk • Internal and credit risk rating for micro business, small, medium and commercial enterprises

Process and Risk Appraisal Basically, the risk management process is carried out by each unit individually as the risk faced for each products, transactions and process is different .This is in line with the policies of the Risk Management Division whose main task is to implement risk management procedures and to carry out various processes to compile and test the risk measurement report, as reported by the risk holder. The implementation of these policies was established in agreement with the board of Directors. The Risk Management Divisions sends risk evaluation report to the Directors periodically i.e. weekly, monthly, and quarterly and also to external parties involved such as Bank Indonesia. In line with Bank Indonesia regulations, Bank Bukopin also carries out risk assessments on all new products and activities originating from related units including operational units.

MANAGEMENT OF ALL TYPES OF RISK In line with Bank Indonesia directive, Bank Bukopin has implemented the various categories of risk management as defined by Bank Indonesia, i.e. credit , market, liquidity, reputation, legal, disciplinary and strategy risk.

Credit risk In managing credit risk, i.e. the risks of counterparty default, Bank Bukopin has arranged a working framework to mitigate risks over all business aspects that have credit risk exposure, such as Micro Credit Business, SMEC, Commercial and Consumer, Sharia Financing Business, Interbank Placements, Purchase of Securities, and Investments. The afore mentioned framework, is meant to counter balance the asset expansion exercise with the availability of adequate capital to cover credit risk which is indicated by the ratio of Non Performing Loans that is constantly monitored at a level manageable by Bank Bukopin.

Policies on Bank Bukopin’s Loans have been mentioned in the prevailing internal stipulations, such as the Bank Bukopin Credit Manual, Bank Bukopin Consumer Credit Manual, Bank Bukopin’s Sharia Financing Manual, and also Bank Bukopin International Banking Manual. Furthermore, since 2004 Bank Bukopin has produced a Bank Bukopin Credit Risk Management Manual, reaffirming the risk mitigation aspect that have to be carried out by all working units that are involve in managing loans. The Risk Management Divisions give inputs to the Board of Commissioners and Directors through quarterly and monthly Reports and Reviews of credit risk. Besides that, this division which is independent of business activities is responsible for giving inputs on the potential risk on every significant credit risk exposure for Bank Bukopin to the Credit/Finance Committee, who has the authority in decision making. Meanwhile, the limited authority given to the members of the Credit and Finance Committee was decided by a Directors Decree in accordance to Bank Bukopin’s policies involving credit finance committee as an institution. Aside from that, various working units have been developed to aid others in exercising caution when giving out credit facilities, funding, and other risk exposure such as Settlements and Credit Restructuring Division, Legal Division, and Loans investigations. In support of credit risk mitigation undertaken by business units, Bank Bukopin has also developed a variety of modules to assess the levels of credit risk as well as the feasibility of providing facilities such as Internal Credit Risk Rating for exposures with SMEC, Commercial and Sharia, and modules for exposures to Micro and Consumer. To further enhance and develop the credit risk database, Bank Bukopin is continuously evaluating and improving these modules. In 2008, to address the impact of credit risk due to deteriorating conditions of debtors /counterparts as a result of the financial crisis, Bank Bukopin continues to make efforts to anticipate risk by monitoring the conditions of each debtor as well as the overall Bank’s portfolio. In the same year, there was a change in Bank Bukopin’s strategy i.e. to enter the Micro business


61

segment by preparing a standardized and automated online risk analysis system. Other things done in the framework of credit risk management throughout 2008 are: - Stress testing on the impact of changes in various economic indicators, such as exchange rates, interest rates and oil prices, on the performance of credit risk - Analysis on the concentration of credit risk faced by Bank Bukopin according to the profile of their portfolio - Analysis of the condition of the Non Performing Loan in all types of businesses and the economic sector - Analysis on the positions of Capital Charges on credit risk and the adequacy of capital to cover the loans under Bank Bukopin’s portfolio

Market Risk In the running of business activities, Bank Bukopin faces market risk due to the adverse movements in the market on their portfolio and this can be harmful. Market risk includes interest rate and exchange rate risk, which arises because of the on balance sheet and off balance sheet positions in the trading book or banking book. Overall, managing the foreign exchange and interest rate risk of Bank Bukopin is based on the policy and procedures related to the product and service activities of treasury and also those businesses that are exposed to such risk. Controlling the foreign exchange and interest rates risks on the trading books, among others, is carried out through analysis and risk control and placing limits for trading which includes transactions in Money Market, Foreign Exchange and Fixed Income Securities. Furthermore, the Bank also carries out mark- to- market for the trading book, monitoring NOP (Foreign Exchange Net Open Position) and VaR (Value at Risk) for Treasury. In the measurement of risk, Bank Bukopin also performs stress tests with several scenarios, including worst case scenario, in order to assess how much Bank Bukopin can withstand when facing abnormal market movements or conditions.

62


Market risk management of the banking book is focused on efforts in managing interest rate risk. Interest rate risk mainly comes from the difference on the date of repricing gap for assets and liabilities of the bank which is sensitive to the movement of interest rates. This risk also arises as a result of differences in pricing mechanism, i.e. the fixed or variable interest rate between the source of fund and the user. Interest rate risk measurement is done using the Interest Rate Risk Model with repricing profile gap methodology to find out how the interest rate movements may affect the stability of net interest earned. A Stress test is also conducted in the measurement as mentioned, to determine Bank Bukopin’s capability in handling interest rate movements (rate shock) during abnormal market conditions. Amidst increasing volatilities in the foreign currency exchange during the fourth quarter of 2008, to mitigate the resulting risks, a careful approach in managing the NOP was carried out through structural changes in the foreign exchange transactions policies for the branch offices and business units. By monitoring the NOP at low and limited levels, the risks faced by foreign exchange can be minimized. Whilst in mitigating interest rate risk, the placement of funds in the Bank’s loan portfolio, will be more selective so as to get optimal returns. Furthermore, whenever significant movements in the interest rate market occurs a more intensive review on the rates of the assets and liabilities must be carried out. In the management of repricing gap between asset and liabilities, efforts must be made to adjust this gap by monitoring the direction of any movements in the market so as to minimize the interest rate risk

Liquidity Risk

Operational Risk

Liquidity risk can occur due to the inability to meet the obligations that are due. Such liquidity problems arise due to maturity mismatch between assets and liabilities.

Bank Bukopin faces significant operational risk in relation to the coverage of the utilization of information technology in supporting the sophisticated products and operational activities of the Bank. On the other hand, the progress of information technology has made Bank Bukopin as a payment point provider that is reliable and trustworthy to the public. To manage this risk, Bank Bukopin has been using the Risk Self Assessment (RSA) application on a quarterly basis since 2002, and in 2007 it developed into web-based from the previously based Microsoft Excel program. In addition, it also developed a web-based Loss Event Database (LED) module. To ensure the effectiveness of this system, research has been made on several high operational risk business activities so as to identify risk factors that exist. This is an ongoing process to minimize operational risks across all business units.

To ensure the ability to fulfill its obligations to the customer / counterparty, Bank Bukopin implemented policies for managing liquidity through the allocation of placements for Primary Reserve, Secondary Reserve and Tertiary Reserve based on specific criteria and limits. In anticipating the emergence of such liquidity risk, Bank Bukopin has a Contingency Funding Plan, which contains the steps that can be taken to anticipate and face difficult liquidity conditions (shortfalls) so that any financial obligations can be fulfilled in a timely manner, maintaining the continuity of the business process under bad conditions and preserving the stability of the Bank. Liquidity Risk Model with maturity gap methodology is being used by Bank Bukopin for liquidity risk measurement. In this measurement a stress test is also being conducted to determine the capability of the Bank when facing liquidity pressure under abnormal market conditions. The global financial crisis in the fourth quarter of 2008 has led to a drain in market liquidity, thus the efforts to raise funds and increase core deposits has become the main focus. This is done through product development, service improvement and increased customer loyalty on a continuous basis. Such actions are carried out to provide a competitive advantage that can be enjoyed by all customers. In anticipating the increasing liquidity risk, the management of Bank Bukopin secondary reserve must be carried with more consideration so that it is in line with the conditions of Loan to Deposit Ratio (LDR) and as a result, the condition of the liquidity of the bank as a whole can be preserved.

Reputation Risk Reputation risk arises from the existence of negative coverage that is tied to the business activities or negative perceptions about Bank Bukopin. To protect from such negative perceptions and bad publicity, Bank Bukopin, through the HRD Corporate Secretary, routinely monitors news related to Bank Bukopin in the various mass media. In addition, the Complaint Tracking System (CTS) that is a part of the Call Center System of Bank Bukopin, handles complaints and offers the best service to their customers to minimize the emergence of customer grievances in the mass media.

Legal Risks Legal risk is the risk caused by weaknesses in the judicial system, or by legal claims, or the lack of clear legal support, or the existence of a weak contract, claim and collateral. Legal risk is managed to ensure that all activities and business relationships with third parties are based on the rules and requirements that can protect the interests of Bank Bukopin by law. Legal risk management in the Bank is done by several divisions depending on


63

the risk factors. Credit matters will be carried out by the Division of Law & Credit Investigation, litigation arising out of credit restructuring will be under the Credit Restructuring & Settlement Division and the legal corporate, under the Compliance & Customer Introduction Division and Corporate Secretary

of the Bank, which is supported by a financial and management model in reducing the risk as slated by the Budget Committee which is held periodically. In addition a General Manager of Strategic Planning has been appointed to coordinate and monitor Bank Bukopin’s business and development planning program.

Compliance Risk

Risk Profile of Bank Bukopin

Compliance risk arises due to the failure to adhere to laws and regulations that exist in Indonesia. It will be managed through comprehensive evaluation towards compliance aspects that is done by the Compliance and Customer Introduction Division. Furthermore, the procedures of the New Product & Activity Committee and Policy Committee must be carried out before the launch of new policies, new products and activities and also before making decisions to release credit. In line with Know Your Customer (KYC) program, significant efforts has been done to update customer’s data and to supervise suspicious transactions through the cooperation of government sponsored Pusat Pelaporan Analisa Transaksi Keuangan (PPATK). To further integrate the KYC program and reports, Bank Bukopin has a web based anti-money laundering system which they owned since 2007, and it used by all the work units/branches. Throughout 2008 it was used to update data and effective monitoring.

Strategy Risk Strategy risk refers to the risk caused by the decision and / or implementation of inaccurate Bank strategies, inappropriate decision making strategy, or bank failures in responding to external changes. Strategy risk management requires Bank Bukopin to identify measures and mitigate risks associated with strategic decisions that are less effective and the failure in anticipating external changes. To manage such risk, the Board of Commissioners and the Directors has developed strategic plan that serves as a blueprint for business development for the next three years. Bank Bukopin has also been implementing an integrated budget system in accordance with the strategic plan

64


In accordance with the guidelines of Bank Indonesia, every three months, Bank Bukopin conducts assessments of the overall risk profile. This will be determined by combining the results of risk exposure assessments (which is inherent) with functional activities (inherent risk) and sufficient risk control systems which includes: • Active supervision of the Board of Directors and Commissioners of the bank; • Adequate policies, procedures and limits; • Adequate identification, measurement, monitoring and information system and risk management; • System of comprehensive internal control Inherent risk levels as mentioned, reflects the emergence of potential risks to the Bank, which consists of low, moderate, and high, while ratings on assessment of the adequacy of risk control system consists of weak, acceptable, strong, resulting into three composite risk predicate, namely low, moderate and high. The results of self assessment risk profile Bank Bukopin per 31 December 2008 are as follows: From the results of the risk assessment profile as per December 2008, the Bank’s inherent risk predicate LOW, level of risk control system STRONG, so that the composite risk is LOW

IMPLEMENTATION OF BASEL II Bank Bukopin as part of the Indonesian banking system has plans to adhere to the regulations of Basel II in 2009. To implement this plan Bank Bukopin always strived

to follow the road map set by Basel II as conveyed by Bank Indonesia. By complying with the provisions set by Bank Indonesia, Bank Bukopin’s risk management development also alludes toward best practice risk management as implemented by the international banking system. Improvement continues to be conducted in accordance with the framework that was published on Basel Committee on Banking Supervision, namely the concept Basel New Capital Accord (Basel II). In anticipating the implementation of Basel II, Bank Bukopin is actively involved in the preparation of the implementation of the Basel II by participating in Quantitative Impact Study (QIS 5) conducted by Basel Committee on Banking Supervision through Bank

Indonesia. From the results of the Quantitative Impact Study (QIS) assessment, the Capital Adequacy Ratio (CAR) of Bank Bukopin is still above that set by Bank Indonesia. Furthermore, Bank Bukopin is also involved in the Working Group Implementation for Basel II in Bank Indonesia. Given the implementation of Basel II is not a light task, in preparation, Bank Bukopin actively collaborates with other banks, both domestic and international, especially in relation to the methodology, measurement system and also knowledge sharing. To increase competency, employees periodically are sent to various forums including seminars, workshops and local and overseas trainings,

Bank Bukopin Self Assessment Risk Profile at Year-end 2008 Inherent Risk Grade

Risk Control System Grade

Composite Risk Grade

Credit Risk

Low

Acceptable

Low

Market Risk

Low

Strong

Low

Liquidity Risk

Low

Strong

Low

Operational Risk

Low

Acceptable

Low

Legal Risk

Low

Strong

Low

Reputational Risk*)

Low

Strong

Low

Moderate

Strong

Moderate to Low

Compliance Risk

Low

Acceptable

Low

Total

Low

Strong

Low

Risk Types

Strategic Risk*)

*) For reputational and strategic risks, the assessments do not rely on quantitative methods.


65

Corporate Governance

T

he requirements for bank management are correlated with the quality and quantity of the Management as pillars in the cultivation of Good Corporate Governance in banking.

In the face of rapid changes in the development

GOVERNANCE STRUCTURE

of the national economy, its dynamic challenges that are increasingly complex and integrated to the

General Meeting of Shareholders (GMS)

global economy, a comprehensive and transparent

The General Meeting of Shareholders (GMS) has the

banking policy is required. As such, the requirement

authority to appoint and dismiss members of the Board

for bank management are correlated with the quality

of Commissioners (BOC) and the Board of Directors

and quantity of the Management as pillars in the

(BOD), approve changes to the Articles of Association,

cultivation of Good Corporate Governance in banking.

endorse the Bank’s Annual Report, appoint External

In addition, the quality of banking management relies

Auditors, and determine the amount and type of

fully on the support of an independent management

compensation/remuneration and other facilities for

that is free of influences from third parties as well

member of the BOC and the BOD.

as conflicts of interests that may compromise the sustainability business of the bank.

During the year of 2008, Bank Bukopin held one Annual General Meeting of Shareholders (AGMS) on 22 May 2008 and two Extraordinary General Meeting of Shareholders (EGMS) on 6 March and 22 May 2008. Several important resolutions that were made in the meetings were:

66


The EGMS on 6 March 2008 endorsed the following

b. A total of Rp187,563,173,068.82, or 50%, will

resolutions:

be retained by Bank Bukopin to strengthen the

1. Approved the plan to acquire the shares of

Bank’s capital reserves.

PT Bank Persyarikatan Indonesia.

c. Gave the rights and authorities to the Board of

2. Approved the acquisition plan.

Directors of Bank Bukopin to determine the

3. Approved the concept for the acquisition deed.

schedule and the procedure of cash dividend

4. Gave power-of-attorney to Board of Directors to

payments to shareholders that are registered

take all necessary measures in connection with the

in the shares registrar as of 17 June 2008 to be

acquisition of the PT Bank Persyarikatan Indonesia

paid on 1 July 2008.

shares, including but not limited to reporting said

3. a. Gave the rights and authorities to the Board of

acquisition to the relevant authorities and carry out

Commissioners of Bank Bukopin to appoint the

changes to the acquisition if required.

Public Accounting Firm to audit the financial statements of Bank Bukopin for financial year

The results of the Annual General Meeting of Shareholders of PT Bank Bukopin Tbk for the financial

2008.

b. Gave the rights and authorities to the Board of

year 2007 on 22 May 2008 were as follows:

Commissioners of Bank Bukopin to determine

1. a. Approved and ratified the annual report of the

the fees and terms of appointment for the

BOD of Bank Bukopin for the financial year 2007.

Public Accounting Firm. 4. a. Approved the Bank’s decision not to adjust

b. Approved the Balance Sheet and Profit and

the amount of honorarium and/or benefits to

Loss Statements of Bank Bukopin for the

the Board of Commissioners of Bank Bukopin

year ending 31 December 2007 that had

for the year 2008 or equal to the currently

been audited by the Public Accounting Firm

prevailing amount of honorarium and/or

of Haryanto Sahari & Rekan with report No.AA00355/DC2/LLS/I/2008, dated 31 March 2008.

c. Gave full release and discharge (acquit et

b. Gave the authorities to the Board of Commissioners of Bank Bukopin to determine the amounts of salaries and/or benefits for

de charge) to the members of the Board of

members of the Board of the Directors of Bank

Directors and the Board of Commissioners

Bukopin by considering the recommendation

for their management and supervision during

of the Committee of Remuneration and

the financial year ending 31 December 2007

Nomination.

provided that their actions are not classified

5. Approved the distribution of tantiem to the

as a criminal act and are reflected in the

Commissioners and Directors of Bank Bukopin, the

Company’s financial report.

amounts of which are roughly equal to those of last

2. Approved the appropriation of net profit of Bank Bukopin for the financial year 2007 as follows:

benefits.

year or at a percentage rate of 6.3% from the net profit of Bank Bukopin for the financial year 2007.

a. A total of Rp187,563,173,068.82, or 50%, from the net profit of Bank Bukopin to be distributed as cash dividends.


67

Shareholders of PT Bank Bukopin Tbk for the financial

Board of Commissioners and Board of Directors

year 2007 on 22 May 2008 were as follows:

The Board of Commissioners (BOC) and Board of

1. a. Approved all amendments and/or adjustments

Directors (BOD) play key parts in the management of

The results of the Extraordinary General Meeting of

of the Company’s Articles of Association

the Bank. The duties and responsibilities of these two

pursuant to Law No. 40 of 2007 on Limited

organs are stated in the Bank’s Articles of Association

Liability Company and Bapepam-LK’s

which are pursuant to the Laws on Limited Liability

Regulation No. IX.J.I.

Company, and the regulations of Bank Indonesia as

b. Gave the rights and authorities to the Board of Directors of Bank Bukopin to undertake such

well as those of the Capital Market and Financial Institution Supervisory Board (BAPEPAM-LK).

amendments and/or adjustments to the Articles of Association of Bank Bukopin as contained

Specifically, since 2006 Bank Bukopin has formulated

in the Concept for Amendment to the Articles

the Guidelines on Good Corporate Governance

of Association, pursuant to the Republic of

and Procedural Standards on the Duties of the BOC

Indonesia Law No. 40 of 2007 on Limited

and BOD to complement the existing corporate

Liability Company and the BAPEPAM-LK N0.

governance policies.

IX.J.I regulation.

c. Gave the authority to the Board of Directors

Board of Commissioners

with substitute rights to state the amendments

The Board of Commissioners is part of the caretaker

a notarial deed, including the reiteration of the

of the Bank that is appointed by the General Meeting

composition of the Shareholders, the Board of

of Shareholders as the highest organ of Bank Bukopin,

Commissioners and Board of Directors, and

based on prevailing criteria and procedures, whether

subsequently to submit the application for

internally or externally, and for a period of time that is

approval and/or registration of the amended

determined in the Bank’s Articles of Association. The

Articles of Association to the relevant authorities,

role of the BOC is to act on behalf of shareholders

and undertake further changes or additions to the

and provide oversight and guidance to the BOD in

amended Articles of Association if deemed so

managing the Bank under the principles of good

by the authorities and to undertake all necessary

corporate governance.

steps that are required pursuant to the prevailing laws and regulations. 2. Gave the authority to the Board of Commissioners

Duties and Responsibilities of the Board of Commissioners

to approve additional paid-up capital of the

Duties and Responsibilities of the BOC, include:

Company with regards to the exercise of the

1. The BOC must undertake its duties and

Option Rights for the period following the closing

responsibilities independently, objectively and free

of said EGMS, namely between 22 May 2008 until

of any pressure or vested interest of any party.

the convening of the next AGMS that will be held at the latest on 22 May 2009.

2. The BOC must ensure the implementation of Good Corporate Governance in each and every activity of the Bank at all levels of its organisation.

68


3. The BOC must undertake the oversight and supervision over the duties and responsibilities of

11. The BOC must spend adequate time to discharge its duties and responsibilities optimally

the BOD, and provide direction and guidance to the BOD. 4. In undertaking its duties as stated in point 3,

Reviews from the Board of Commissioners The Board of Commissioners supervises the

the BOC must monitor, evaluate, and direct the

management of the Bank by using parameters that

implementation of the Bank’s strategic policies.

are predetermined. These parameters are used to

5. In undertaking its oversight as stated in point 3,

review and supervise the implementation of the

the BOC is prohibited from being directly involved

Bank’s policies, principles, core values, strategies,

with decision making over the operations of the

objectives and performance targets, including policies

Bank, except for:

on investment and acquisition, operations and risk

• The provision of funds to related parties as

management frameworks. The BOC also monitors the

governed by Bank Indonesia regulation on the

effectiveness of corporate governance implementation,

Legal Lending Limit for a commercial bank;

contributing thoughts and ideas on key issues

and

and measures that need to be taken to ensure the

• And other matters that are stipulated in the Bank’s Articles of Association or other

management of the Bank in a sound and prudent manner.

prevailing laws and regulations. point 5 does not preclude the responsibilities of

Structure, Composition and Independence of the Board of Commissioners

the BOD in the management of the Bank.

Based on the resolutions of the AGMS and EGMS of

6. Decision making by the BOC as referred to in

7. The BOC must ensure that the BOD follows up on the audit findings and the recommendations

Bank Bukopin in 2008, there were no changes to the composition of the Board of Commissioners.

of the internal audit unit of the Bank, the external auditors, findings of Bank Indonesia supervision

As at year-end 2008, the BOC of Bank Bukopin

and/or the monitoring of other authorities.

comprised of six members, namely a President

8. In order to support the effectiveness of the implementation of its duties and responsibilities,

Commissioner, two Commissioners and three Independent Commissioners.

the BOC has formed: • The Audit Committee

On the basis of the foregoing, the following conditions

• The Risk Monitoring Committee

prevailed as at 31 December 2008:

• The Remuneration and Nomination Committee

1. The Commissioners of the Bank numbered six

9. The BOC must ensure the Committees formed as

people. This number is less than the number

referred to in point 8 can undertake their duties

of Board of Directors of Bank Bukopin; all of

effectively.

the Commissioners of the Bank are domiciled

10. The BOC must have work guidelines and procedures that are binding for each member of

in Indonesia, while 50% of the number of Commissioners are Independent Commissioners.

the BOC.


69

2. Prior to their appointment by the GMS, the

The Commissioners of the Bank are professionals

replacement and appointment of members of the

in their respective fields with a broad array of

BOC have been vetted from the recommendations

expertise in banking, finance, management, law,

of the Remuneration and Nomination Committee

government, institution and corporation, as well as

3. Every member of the BOC does not have a filial

in the areas of services and risk management. Details

relationship to the second degree with other

and qualifications of each member of the BOC are

members of the BOC and/or members of the BOD.

presented in their brief profiles on page 280 of this

4. Members of the BOC cannot serve concurrently

Annual Report.

as Commissioners, Directors or Executives at any other Commercial Bank, Rural Credit Bank and

Meetings of the Board of Commissioners

other financial institutions, at home or abroad.

The meetings of the BOC are scheduled periodically

5. Members of the BOC can only serve in the

at least four times in a year and must be attended in

capacity of Commissioners, Directors or

full by the Commissioners on at least two occasions of

Executives in one other non-financial institution or

those four meetings.

corporation. 6. Not included in the definition of concurrent

Prior to attending the meeting, all Commissioners and

service as referred to in point 5 is when members

any other party invited to the meeting will have been

of the BOC:

supplied by all necessary information related to the

• Carries out a functional role from the

meeting’s agenda at the latest five calendar days in

shareholder of a bank that is incorporated; or • He or she concurrently serves in a non-profit organisation, in so far as the Commissioners does

advance, or in case of urgency, at the least three days in advance of the meeting, so that participants can prepare themselves thoroughly for the meeting.

not neglect his or her duties as Commissioner of the Bank.

Throughout 2008, the BOC convened a total of 36

7. The Independent Commissioners of Bank Bukopin

following table sets forth in detail the attendance

the regulation of BAPEPAM-LK.

records of each Commissioner in those meetings.

As at 31 December 2008, the composition of the BOC was as follows: President Commissioner

: Saean Achmady

Commissioner

: Andi Chaeruddin M.

Commissioner

: Boediarso Teguh Widodo

Independent Commissioner : Sutrisno Iwantono Independent Commissioner : Syamsul Effendi Independent Commissioner : Yoyok Sunaryo

70

BOC meetings, and 15 BOC-BOD meetings. The

have all met the criteria for independency as per


Attendances in BOC and BOD Meetings Name

Board of Commissioners Meeting

Joint Meeting of BOC and BOD

Total: 36

Percentage

Total: 15

Percentage

Saean Achmady

33

91.67

15

100.00

Andi Chaeruddin M.

33

91.67

12

80.00


22

61.11

10

66.67

Sutrisno Iwantono

28

77.78

11

73.33

Syamsul Effendi

30

83.33

14

93.33

Yoyok Sunaryo

33

91.67

14

93.33

Glen Glenardi

-

-

12

80.00

Tri Joko Prihanto

-

-

12

80.00

Sulistyohadi DS

-

-

12

80.00

Agus Hernawan

-

-

10

66.67

Sunaryono

-

-

12

80.00


-

-

8

53.33

Mikrowa Kirana

-

-

8

53.33

Meeting Location

5. Members of the BOC are prohibited to derive

The Commissioners’ meetings are held at the domicile

or receive personal gains from the Bank, other

of Bank Bukopin or at the Bank’s business premises.

than the remuneration and benefits that have been determined by the General Meeting of

Transparency Aspects of the Board of Commissioners

Shareholders.

on the implementation of Corporate Governance as a

Remuneration for of the Board of Commissioners and Committees

core obligation must disclose:

The total remuneration for members of the Board of

1. Share ownership in the Bank, other banks and

Commissioners in 2008 amounted to Rp5.64 billion,

Members of the Board of Commissioners in their report

other companies domiciled either in Indonesia or

excluding tax, tantiem and other benefits in non-

overseas.

natura form.

2. Financial relationship or filial relationship with other members of the BOC, BOD and/or Shareholders. 3. Remuneration and other benefits received by the BOC as determined by the General Meeting of Shareholders. 4. Members of the BOC are prohibited from using the resources of the Bank for personal gains or those of families and/or other parties that are not in the best interest of the Bank. Bank Bukopin ANNUAL REPORT 2008

71

Training for the Board of Commissioners To improve the Board of Commissioners’ competence, in 2008 members of the Board of Commissioners participated in various training program, conferences, seminars or workshop, as presented in the table below:

Training attended by the Board of Commissioners Name

Organiser

Date

Location

Executive RMC (Risk Management Certificate)

BSMR

11-12 August 2008

Grand Hyatt Hotel, Jakarta

Remuneration and Compensation system and potential issues related to the implementation of GCG

RMCI

26-27 June 2008

Le Grandeur Mangga Dua

Executive RMC

BSMR

11-12 August 2008


ISICOM

28 August 2008

Hotel Le Meridien, Jakarta

Executive RMC

BSMR

11-12 August 2008


Andi Chaeruddin

Executive RMC

BSMR

11-12 August 2008


Yoyok Sunaryo

Executive RMC

BSMR

13-15 October 2008


Saean Achmady

Sutrisno Iwantono

Syamsul Effendi

Training

Case study of a GCG-based organisation

Committees at the BOC Level

Audit Committee Report

To undertake its tasks effectively and efficiently, the with the requirements of the Bank and pursuant to the

Duties and Responsibilities of the Audit Committee

prevailing regulations.

The duties and responsibilities of the Audit Committee

BOC has formed Committees at the BOC level in line

of Bank Bukopin are to assist the BOC in carrying Those Committees are:

out its oversight duties on the Bank’s financial report,

• The Audit Committee

internal control and the implementation of the Internal

• The Risk Monitoring Committee

Audit Unit (IAU), the audit process of the external

• The Remuneration and Nomination Committee

auditors and oversight on the implementation of GCG. These functions were carried out by:

In 2008, each Committee had their respective work programs laid out and, at the end of the year,

• Reviewing of the objectiveness of the Bank’s

submitted a report on the implementation of their

financial report and related internal control,

programs to the BOC in the form of a memorandum,

especially with respect to the conformity of the

including their recommendations for the BOC to

financial report with the financial accounting

follow up on.

standards that apply to banks.

Detailed explanations of each committee are as follows:

• Monitoring the implementation of the tasks of the external auditors, especially in regards to their conformity with prevailing audit norms and standards.

72


• Empowering the roles of the IAU to undertake its tasks.

To maintain the effectiveness of the Audit Committee’s implementation of its duties and responsibilities, the Audit Committee convened regular monthly meetings.

• Providing professional and independent inputs that may help the BOC in its decision making process.

For 2008, the Audit Committee had initially planned for 12 meetings, but in reality convened a total of 16 meetings throughout the year. The table below lists

For its part, the Audit Committee has access to any

the attendance records of the Committee members in

and all data and information that may be required to

those meetings.

fulfil its duties and responsibilities. In discharging its duties, the Audit Committee works The Audit Committee is chaired by an Independent

closely with the IAU in order to review the Bank’s

Commissioner, who is assisted by a Committee

structure of internal control, level of compliance to

member whose expertise lies in finance and

standard operating procedures as well as to regulations

accounting, and another Committee member with

governing financial reports. The Audit Committee also

expertise in law and banking. All members of the

reviews the selection process for the public accounting

Audit Committee have registered with the Indonesian

firm, the audit plan, as well as the audit findings and

Association of Audit Committee (IKAI) and have

follow-up thereof, in addition to the presentation of

participated in various training programs and

the financial report and its conformity to the generally

workshops to broaden the horizons of these members.

accepted accounting standards for banking.

As at year-end 2008, the composition of the Audit

Several of the key agendas in 2008 included among

Committee were as follows: :

other things: 1. Status and progress reviews on the implementation

Chairman: Syamsul Effendi

of the financial statements of Bank Bukopin for

Member : Suratto Siswodihardjo

the year 2007 by the Public Accounting Firm and

Member : Sugijanto

analysis of the findings up to the publication of the financial statements along with the accompanying

The brief profiles of each member of the Audit

Management Letter.

Committee are presented on page 284 of this Annual Report.

Attendances in Audit Committee Meetings

Name

Position

Attendance Total: 16

Percentage

Syamsul Effendi

Chairman

16

100%

Suratto Siswodihardjo

Member

16

100%

Sugijanto

Member

16

100%


73

2. Monitoring the selection process of the Public

liquidity, growth of assets and liabilities, NPL,

Accounting Firm appointed to audit the financial

profitability, earning assets quality and outstanding

statements of Bank Bukopin for the year 2008 up

loans, growth of third-party funds and the

to the final selection, and reviewing the audit plan

performances of individual business units, and

of the appointee.

other matters that are deemed pertinent.

3. Carrying out assignment from the BOC to prepare

4. Discussion on specific matters that arose from the

meetings between the BOC and BOD, especially

audit findings of the IAU or from other sources and

with regards to the financial performance of the

analyses on the Bank’s exposures as reported by

Bank, and more so in ascertaining the principles

Risk Management Unit that require the attention

of prudent banking (CAR, LLL, NOP), financial

of, and recommendations from, the Board of Commissioners.

Syamsul Efendi Chairman

74

Suratto Siswodihardjo

Sugijanto

Member

Member


RISK MONITORING COMMITTEE REPORT The Risk Monitoring Committee assists the Board

The composition of the Risk Management Committee

of Commissioners (BOC) in identifying matters that

in 2008 was:

may require the attention of the Commissioners, and

Chairman : Sutrisno Iwantono

undertake other duties that are related to those of the

Member : Boediarso Teguh Widodo

BOC, including (a) evaluate the consistency between

Member : Sugijanto

the risk management policy and its implementation; (b) monitor and evaluate the implementation of the

The Chairman of the Committee is an Independent

duties of the Risk Management Committee and the

Commissioner with expertise in macro-economics,

Risk Management Unit; and (c) monitor the adherence

combining it with a Commissioner member whose

to the principles of Good Corporate Governance in

expertise lies in finance, and another Independent

every business activity of the Bank at every level of the

Commissioner member with expertise in accountancy.

organization. In 2008, the Committee convened a total of 12 The Risk Monitoring Committee has free and full

meetings with attendance records as shown in the

access to all documents, personnel, funds as well as

table below.

the resources of other companies to undertake duties, and collaborates with the Risk Management Unit and

Minutes of meetings are prepared for every meeting,

the supporting Committees of the Risk Management

which are subsequently reported to the Board of

Unit within the Directorate of Risk Management,

Commissioners as materials to be supervised and, if

Compliance and Human Resources Development.

deemed necessary, the substance of which will be forwarded to the BOD for appropriate actions.

Attendance in Risk Monitoring Committee Meetings

Name

Position

Attendance Total: 12

Percentage

Chairman

12

100%


Member

12

100%

Sugijanto

Member

12

100%

Sutrisno Iwantono


75

Pertinent matters that were discussed in 2008

the progress of loans disbursement above Rp100

included:

billion. In addition, the Committee also reviewed the restructuring and settlement of non-performing

1. Evaluation on the Risk Profile of Bank Bukopin

loans.

on a Quarterly basis, be it inherent risks that are measured quantitatively or risk control systems

4. Evaluate periodically of the general control system

that are measured qualitatively by reviewing the

and control over the application of technology

process and procedures of its formulation.

information from the audit findings of IAU as well external auditors.

2. Joint discussion with the Risk Management Unit on the plan to implement Basel II in 2009, which will

5. Monitor and evaluate exposures arising from the

effect the financial performance of Bank Bukopin,

analyses carried out by the supporting committees

with aim of anticipating these effects as early as

for the Risk Management Unit of Bank Bukopin,

possible, including the preparation of the methods/

in connection with the increasing competition

tools/supporting systems for the implementation in

in banking in generating third-party funds, and

the years to come.

the disbursement of these funds, as well as other assignments from the Board of Commissioners.

3. The Committee was assigned by the BOC to constantly monitor classified debtors and their restructuring as well as remedial measures. Monthly monitoring was carried out on outstanding debtors of more than Rp2.5 billion, which accounted 60% of total outstanding loans, and on debtors with collectibilities of special mention, doubtful and non performing, as well as

Sutrisno Iwantono Chairman

76


Sugijanto

Member

Member


REMUNERATION AND NOMINATION COMMITTEE REPORT

Structure, Composition, Expertise, and Independence of the Remuneration And Nomination Committee

Duties and Responsibilities of the Remuneration And Nomination Committee

Remuneration and Nomination Committee comprises

The Remuneration and Nomination Committee was

Committee members representing the Government and

formed by the Board of Commissioners with the

an executive in the field of accountancy and finance.

following duties and responsibilities:

The composition of the Committee as at year-end 2008

of an Independent Commissioner as Chairman, three

were as follows: Chairman : Yoyok Sunaryo

a) Related to Remuneration Policy: • Evaluate the remuneration policy;

Member : Andi Chaeruddin Muhammad

• Recommend to the BOC concerning:

Member

: Syamsul Effendi

Member

: Boediarso Teguh Widodo

Member

: Mulyana

- the remuneration policy for the BOC and the BOD to be conveyed to the GMS; - the remuneration policy for the Bank’s Executive and employees on the whole to be conveyed to

The composition, expertise and independency criteria

the BOD.

of the Remuneration and Nomination Committee have conformed with the regulations of Bank Indonesia and BAPEPAM-LK. The brief profiles of the members

b) Related to the Nomination Policy: • Formulate and recommend the system and procedure of selection and/or replacement of

of the Remuneration and Nomination Committee are presented on page 285 of this Annual Report.

members of the BOC and the BOD to the BOC to be conveyed to the GMS. • Recommend prospective candidates for the BOC

The Remuneration And Nomination Committee Meeting

and/or the BOD to the BOC to be conveyed to the

To maintain the effectiveness of the implementation

GMS.

of the duties and responsibilities of the Committee,

• Recommend an Independent Party who will

quarterly meetings are convened regularly. Throughout

become members of the Audit Committee and the

2008, a total of four meetings were convened. The

Risk Monitoring Committee to be conveyed to the

following table shows the attendance records of

BOC.

members of the Remuneration and Nomination Committee.

Attendances in Remuneration and Nomination Committee Meetings Name

Position

Attendance Total : 4

Percentage

Chairman

4

100%

Andi Chaeruddin Muhammad

Member

4

100%

Syamsul Effendi

Member

4

100%


Member

4

100%

Mulyana

Member

4

100%

Yoyok Sunaryo


77

Minutes of meetings are prepared for every meeting,

Recommendation:

which are subsequently reported to the Board of

The Remuneration and Nomination Committee

Commissioners as materials to be supervised and, if

agreed to recommend to the Board of

deemed necessary, the substance of which will be

Commissioners to adjust the amount of honorarium

forwarded to the BOD for appropriate actions.

provided to members of the Sharia Supervisory Board as per the recommendation of the BOD.

The Recommendations of the Remuneration 3. Tuesday, 25 November 2008

and Nomination Committee to the Board of Commissioners:

Agenda:

1. Friday, 2 May 2008

Preparation for the EGMS.

Agenda:

Recommendation:

Evaluate the policies on remuneration of the BOC

- The Remuneration and Nomination Committee

and BOD of Bank Bukopin.

in principle recommend to the Board of

Recommendation:

Commissioners the proposed changes to

With all due respect to the performance of the

members of the BOC, in line with the Articles

Management of Bank Bukopin that has continued

of Association of Bank Bukopin.

to improve, and considering the amounts of

- The Remuneration and Nomination Committee

honorarium and/or benefits for the BOC, and salaries

also recommends the candidate for the

and/or benefits for the BOD, the amounts received

replacement of Commissioners, with the

are still in line with current conditions; therefore

consideration that said candidate is currently

the Remuneration and Nomination Committee has

serving as a special staff of the State Minister of

agreed in principles to recommend to the BOC

SOE and the qualification of the candidate.

to not adjust the amounts of honorarium and/or

- Whereas in relation to the salaries of members

benefits for the BOC, and salaries and/or benefits for

of the BOD, the Remuneration and Nomination

the BOD for the year 2008, or equal to the currently

Committee recommends that the amounts

prevailing amounts.

be kept at present levels. However, the Remuneration and Nomination Committee will

2. Tuesday, 26 August 2008

seek data/information regarding the amounts of

Agenda:

remuneration of peer banks.

Evaluate the Honorarium for the Sharia Supervisory Board of Bank Bukopin.

Yoyok Sunaryo Chairman

78

Andi Chaeruddin

Syamsul Effendi


Mulyana

Member

Member

Member

Member


BOARD OF DIRECTORS

8. The BOD is prohibited from using individual advisor and/or professional service as consultants,

The Board of Directors is part of the caretaker of the

unless they conform to the following requirements:

Bank that is appointed by the General Meeting of

• The project is specific in nature;

Shareholders as the highest organ of Bank Bukopin,

• It is based on a clear contract, which at

based on prevailing criteria and procedures, whether

the very least contains the scope of work,

internally or externally, and for a period of time that is

responsibilities of parties and completion

determined in the Bank’s Articles of Association. The

schedule and cost;

BOD is fully responsible for the management of the Bank in the interest of the Bank in achieving its goals and objectives, and representing the Bank, both in and outside of the court of law, pursuant to the Articles of Association.

• The Consultant is an Independent Party with the qualification to undertake a specific project as referred to above. 9. The BOD must provide accurate, relevant and timely data and information to the BOC. 10. The BOD must have its work guidelines and

Duties and Responsibilities of the Board of Directors The duties and the responsibilities of the BOD include: 1. The BOD is fully responsible for the management of the Bank. 2. The BOD must manage the Bank in line with its authority and responsibility as stipulated in the

procedures that are binding for each member of the BOD. 11. All decisions made by the BOD in line with its work guidelines and procedures are binding and become the responsibilities of all members of the BOD. 12. Members of the BOD are prohibited from

Articles of Association and prevailing laws and

extending a power of attorney to a third party

regulations.

that has the effect of transferring the duties and

3. The BOD must implement the principles of Good Corporate Governance in every business activity of the Bank, at every level of the organisation. 4. The BOD must follow up on the audit findings and the recommendations of the internal audit unit of

functions of the BOD.

Work Ethics of the BOD Members of the BOD of Bank Bukopin must always: 1. Act professionally, honestly and objectively in

the Bank, the external auditors, findings of Bank

making every decision with due consideration for

Indonesia supervision and/or the monitoring of

the principles of prudence.

other authorities. 5. In order to implement the principles of Good Corporate Governance, the BOD must form at least:

2. Aware of and adhere to the laws and regulations, both internal and external, as well as prevailing norms. 3. Uphold and maintain the image, reputation and

• The Internal Audit Unit;

stature of the Bank, as well as their own individual

• The Risk Management Unit and the Risk

reputation.

Management Committee; and • The Compliance Working Unit. 6. The BOD must account for their duties and responsibilities to the shareholders through the General Meeting of Shareholders. 7. The BOD must disclose to employees the policies of the Bank that have strategic value to the aspect of human resources.

4. Keep their promise and commitment to the authorities and other stakeholders. 5. Secure the confidentiality of the Bank, their positions and customers. 6. Improve themselves constantly in the course of their duties. 7. The BOD must spend adequate time to discharge its duties and contribute constructive ideas to the progress of the Bank.


79

8. Avoid potential conflict of interest, among other things from the efforts of: • Other parties or personal initiatives that could be categorised as an effort to take advantage of

3. Members of the BOD cannot serve concurrently as Commissioners, Directors or Executives at any bank, company and/or institution. 4. Members of the BOD, either individually or

the Bank for personal gains, as well as those of

collectively, are prohibited from owning shares of

family and/or other parties that are not in the

more than 25% of the Bank’s paid-up capital and/

best interest of the Bank.

or those of any other company.

• Other parties or personal initiatives that could be categorised as to take and/or receive

As at 31 December 2008, the composition of the BOD

personal gains from the Bank, other than the

were as follows:

remuneration and other benefits that have

President Director

been determined by the General Meeting of

Director of

Shareholders.

Finance and Planning

• Decision making, in which either through

: Glen Glenardi : Tri Joko Prihanto

Director of

personal or other means, whether directly or

Small, Medium-scale

indirectly, the members of the BOD have a

Enterprise and Cooperative : Sulistyohadi DS

vested interest in the decision.

Director of Services and Distribution

: Agus Hernawan

Structure, Composition and Independency of the BOD

Director of

Each recommendation to replace and/or appoint

Compliance and HRD

: Sunaryono

members of the BOD to the General Meeting

Director of Consumer

: Lamira Septini Parwedi

of Shareholders by the BOC has to consider

Director of Commercial

: Mikrowa Kirana

Risk Management,

the recommendation of the Remuneration and Nomination Committee. Based on the resolutions of

The Directors of the Bank are professionals in their

the AGMS and EGMS of Bank Bukopin in 2008, there

respective fields with a broad array of expertise in

were no changes to the composition of the BOD.

banking, finance, management, law, government, institution and corporation, as well as in the areas

As at year-end 2008, the BOD of Bank Bukopin

of services and risk management. Details and

comprised of seven members, namely a President

qualifications of each member of the BOD are

Director that is independent of the controlling

presented in their brief profiles on page 282 of this

shareholder, and six Directors.

Annual Report.

On the basis of the foregoing, the following conditions prevailed as at 31 December 2008: 1. Pursuant to the guidelines on Corporate Governance that is implemented at Bank Bukopin, all of the Directors are domiciled in Indonesia. 2. A majority (more than 50%) of the members of the BOD are prohibited from having a filial relationship to the second degree with other members of the BOD and/or members of the BOC.

80


The Board of Directors Meeting

Meeting Location

The meetings of the BOD have been convened for a

The Directors’ meetings are held at the domicile of

total of 25 times in one year, and attended by at least

Bank Bukopin or at the Bank’s business premises.

one-half of the number of Directors. Prior to attending the meeting, all Directors and any

Transparency Aspects of the Board of Directors

other party invited to the meeting will have been

Members of the Board of Directors in their report on

supplied by all necessary information related to the

the implementation of Corporate Governance as a

meeting’s agenda at the latest 3 (three) calendar days

main obligation must disclose:

in advance, or in case of urgency, at the least 1 (one)

1. Share ownership in the Bank, other banks and

day in advance of the meeting, so that participants can

other companies domiciled either in Indonesia or overseas.

prepare themselves thoroughly for the meeting.

2. Financial relationship or filial relationship Throughout 2008, the BOD convened a total of 25

with other members of the BOC, BOD and/or

BOD meetings. The following table sets forth in detail

Shareholders.

the attendance records of each Director in those

3. Remuneration and other benefits as determined by the General Meeting of Shareholders.

meetings.

4. Members of the BOD are prohibited from using the

Attendances in BOD Meetings Name

resources of the Bank for personal gains or those of families and/or other parties that are not in the best

BOD Meetings

interest of the Bank.

Total: 25

Percentage

Glen Glenardi

24

96%

Tri Joko Prihanto

23

92%

Sulistyohadi DS

23

92%

Agus Hernawan

24

96%

Sunaryono

24

96%


22

88%

Mikrowa Kirana

24

96%

5. Members of the BOD are prohibited to derive or receive personal gains from the Bank, other than the remuneration and benefits that have been determined by the General Meeting of Shareholders.

Remuneration of the Board of Directors The total remuneration for members of the Board of Directors in 2008 amounted to Rp11.99 billion, excluding tax, tantiem and other benefits in nonnatura form.


81

Trainings attended by the Directors Name Glen Glenardi

Training CEO’s Night

Organiser Daya Dimensi Indonesia

9 April 2008

Executive RMC

BSMR

14-15 May 2008

Minimum Statutory Reserves Requirement for Commercial Bank based on Basel II (BI Regulation No. 10/15/PBI/2008)

IRPA

24 November 2008

Daya Dimensi Indonesia

9 April 2008

BSMR

13-14 May 2008

Tri Joko Prihanto CEO’s Night Executive RMC

Sulistyohadi


Mercantile Atletic Bali, ABN Amro

GAPKI

3-4 December 2008 Nusa Dua, Bali

Executive RMC

Leader to Leader

BSMR

11-12 August 2008 18-20 June 2008

Hotel Arjuna Bandung


BSMR

14-15 May 2008

Singapore, Standchart

Bank Bukopin

18-20 June 2008


Coreaction

10 April 2008

Four Season Hotel

BSMR

11-12 August 2008

Bank Bukopin

18-20 June 2008


AUSAID

4 December 2008

Bandung

Bank Indonesia

11-12 June 2008

Yogyakarta

Visa

9-11 April 2008

Westin Resort Nusa Dua, Bali

Leader to Leader Eradicating Organised Crime and Money Laundering: Roles & Perspectives of Banking Visa Asia Pacific Small Business Forum 200 ESQ MCB

26-27 November 2008 Hotel Borobudur, Jakarta

Bank Bukopin

Executive RMC

Seminar on Operational Risk

Mikrowa Kirana

Singapore, Standchart

Indonesia Palm Oil Conference

Executive RMC

Lamira Septini

Mercantile Atletic

Alomet & Friend

The 4 Discipline of Execution

Sunaryono

Location

Enhancing performance with business architecture planning

Leader to Leader Agus Hernawan

Date

ESQ Leadership Center


29-30 November 2008 Menara 165, Cilandak

Leader to Leader

Bank Bukopin

18-20 June 2008


Leader to Leader

Bank Bukopin

18-20 June 2008


Training for the Board of Directors

Foreign Exchange Committee

To improve the Board of Directors’ competence, in

In line with the increasing transactions of Treasury

2008 members of the Board of Directors participated

Division in buying and selling foreign currencies,

in various training program, conferences, seminars and

especially those undertaken on behalf of the

workshops, as presented in the table above:

customers, it is deemed necessary to provide foreign exchange line facilities to customers. This is in

Committees at the BOD Level

accordance with the commitment of Bank Bukopin

To undertake its tasks effectively and efficiently, the

to increase fee based income in consideration of the

BOD has formed Committees at the BOD level in line

considerable potential of foreign exchange transaction

with the requirements of the Bank and pursuant to the

services for the Bank’s customers. In order to enhance

prevailing regulations.

customer service in said foreign exchange facilities, while still maintaining the principles of prudential

Those Committees are:

banking, the BOD has formed the Foreign Exchange

1. Foreign Exchange Committee

Committee.

2. Credit/Financing Committee 3. Assets and Liabilities Committee

82


The Foreign Exchange Committee has the authority

the Bank and the supporting functions to provide

and responsibility to provide its opinion, evaluation,

an opinion.

consideration and decision to recommend a the

4. The members of the Foreign Exchange Committee

foreign exchange facility to be provided to the

are not allowed to give an approval for a proposal

customer.

in which he or she has a vested interest in it, whether directly or indirectly.

Authority of the Foreign Exchange Committee 1. Discuss, evaluate and decide on the proposal of the foreign exchange line facilities that are

The Workings Mechanism of the Foreign Exchange Committee 1. The Secretary of the Foreign Exchange Committee

submitted by the Account Officer or Sponsor for

(Ex Officio) is served by a Divisional Head or

approval.

Section Head who is in charge of legal matters.

2. If deemed necessary, undertake direct evaluation on the viability of the proposal for the foreign exchange line facility, but not limited to: a. on-site visit b. interview with the customer 3. Decline any request and or influence by interested

2. All proposals should be addressed to the Secretary of the Foreign Exchange Committee. 3. The Secretary decides and invites the members of the Foreign Exchange Committee to decide on a proposal. 4. For a proposal with a ceiling of USD5 million,

parties who are connected with the applicant of

at least one member of the Foreign Exchange

the foreign exchange line, to give the Committee’s

Committee has to be outside of the business unit

approval on the foreign exchange line facility even

that submits the proposal. Whereas for a ceiling

though merely as a formality.

of more than USD5 million, at least two members should be independent of the decision-making.

Responsibility of the Foreign Exchange Committee 1. Provide an opinion and or decision on the foreign exchange line facility. 2. Ensure that the provision of the foreign exchange line facility has conformed with internal and external regulations. 3. In the case where a foreign exchange line facility

5. One of the members of the Committee should be the Divisional Head who submits the proposal for the foreign exchange line facility. 6. The decision of the Committee on the proposed foreign exchange line facility can be in the form of: 6.1. A final approval or recommendation for approval to be forwarded to a member of the Committee who has an individual limit

is approved, it has to ascertained that the facility

authority equal to or higher than the amount

being provided is viable and in accordance with

of facility being proposed, or forwarded for

the criteria that have been agreed upon.

the approval of the BOD and or the BOC. 6.2. Conditional approval.

Membership of the Foreign Exchange Committee 1. The Foreign Exchange Committee is based at the Head Office.

6.3. Non-approval. 7. Every decision of the Foreign Exchange Committee has to be documented in full by the Secretary of the Committee.

2. The members of the Foreign Exchange Committee are appointed by the BOD. 3. These members include all group heads, divisional heads, business or area managers, all of whom are directly connected with the commercial aspect of


83

Credit/Financing Committee

3. In the case where a foreign exchange line facility

The Credit/Financing Committee has the authority

is approved, it has to ascertained that the facility

and responsibility to provide its opinion, evaluation,

being provided is viable and in accordance with

consideration and decision to recommend the credit/

the criteria that have been agreed upon.

financing facility to be provided to the customer. Members of the Credit/Financing Committee are appointed and given the authority by the BOD, and have the responsibility in accordance with their respective Individual Limits to provide and opinion,

Members of the Credit/Financing Committee 1. Members of the Credit/Financing Committee are appointed by the Directors or Commissioners or by an official authorised by the BOD. 2. Members of the Credit/Financing Committee

evaluation, consideration and decision on the

comprise of credit/financing managers aside

recommendation for a credit/financing facility or the

from the BOD, including structural managers that

requirements for other credit/financing facilities to be

handle business and Account Officer/Relationship

provided to the customer.

Officer all of whom are connected directly with the business and supporting functions to provide

Authority of the Credit/Financing Committee 1. Discuss, evaluate and decide on the application

their opinions. 3. The structural managers who are not involved

for credit/financing that is forwarded by the

in business but are connected to the business

Sponsoring Account Officer:

function, if deemed necessary, could be appointed

1.1. New credit/financing application;

as members of the Credit/Financing Committee.

1.2. Changes in the terms and conditions for

4. All members of the Credit Committee double as

credit/financing, such as:

members of the Financing Committee, and vice

a. changes in interest rate/ margin rate

versa, members of the Financing Committee

b. changes/replacements of collaterals

double as members of the Credit Committee.

c. changes in the type of credit/financing facility

5. The Head of the International Banking and Treasury Division and an appointed staff, are

d. extension of the credit/financing tenor

members of the Credit/Financing Committee of

e. changes in the terms of credit/financing

Special Category, namely the Committee for credit

that have been applied previously. 2. If deemed necessary, undertake direct evaluation on the viability of the proposed credit/financing application.

Responsibility of the Credit/Financing Committee 1. Provide an opinion and or decision on the foreign exchange line facility. 2. Ensure that the provision of the foreign exchange line facility has conformed with internal and external regulations.

and financing facility from international banking and treasury.

The Workings of the Credit/Financing Committee 1. The Secretary of the Credit/Financing Committee (Ex Officio) is served by a Divisional Head or Section Head who is in charge of legal matters. 2. All proposals should be addressed to the Secretary of the Credit/Financing Committee. 3. The Secretary determines and invites the members of the Credit/Financing Committee to decide on a proposal.

84


4. One of the members of the Committee should be

Hedging Strategy

the Divisional Head who submits the proposal for

In the case where an adverse movement in interest

the credit/financing facility.

rate or currency exchange rate is anticipated, Bank

Asset and Liabilities Committee (ALCO)

Bukopin needs to take a hedging position on its banking book, including through foreign currency

In line with the continuing growth of Bank Bukopin’s

transaction, lending and borrowing on the money

business, and in anticipation of increasing bank

market, as well as derivative transactions.

competition, the BOD has seen fit to form a committee that is responsible for the strategic management of the

Hedging can be made through one or more

Bank’s assets and liabilities that comprise of liabilities

instruments that can be aligned with the risk profile

management, liquidity management, secondary

that is faced by the Bank.

reserves management, loan management and offbalance sheet management.

Hedging placement still need to account for profitability as well as the total cost that may be

The aim of this Committee is to anticipate trends in the

incurred. The Bank will periodically review its hedging

money market, interest rates, currency exchange rates

transactions.

and the development of the banking sector, especially that which involves the generation of third-party funds

Funding Strategy

and the disbursement of these funds as earning assets.

Funding activities are primarily targeted at public funds and other funds, with an emphasis on generating

ALCO meetings are convened at least once a month or

low-cost funds. The structure of funding sources is

at any time deemed necessary.

determined by considering the profiles of customers

Strategy for Fund Placement

and stability factor to the Bank’s deposit funds.

In carrying out its business to generate revenues, Bank

The funding strategy should be in line with the

Bukopin places a portion of its funds as earning assets.

projection for credit disbursement that will be

The investment allocation in the form of earning assets

undertaken by the Bank.

is carried out in accordance with the investment target, and the expected returns as stipulated in the Bank’s

COMPLIANCE

Business Plan and budget. Bank Bukopin is fully aware that non-compliance, The strategy for the placement of funds as earning

fraudulent activities, and even transgression on the

assets comprise of:

regulation on the Bank vis-a-vis prudential banking

1. Placement in other banks

constitute factors that greatly compromise the

2. Placement in the form of outstanding loan

sustainability of the Bank’s business. As such, the

3. Placement in the form of marketable securities

enhancement of internal control systems through mitigating measures is indispensable to the Bank. These mitigating measures are comprehensive in nature, which not only covers adequacy in rules, policies, procedures and intensive monitoring,


85

but also includes early prevention efforts by every

Compliances Activities in 2008

employee and all operating units of Bank Bukopin. The

In implementing these functions, the Directorate of

compliance aspect is also not limited to complying

Compliance undertakes to:

with rules and regulations but also constitutes a

• Execute compliance tests for each planned policy

continuous process, that will serve as an input for the Bank to make its business and operational decisions that reflect prudential banking principles.

and procedure, • Execute compliance tests for each credit approval process for amounts higher than certain limits. For credit approvals of amounts exceeding certain

To that end, the Directorate of Compliance plays a key

limits, compliance tests are performed by the

role as an integral part of the corporate governance

related work units compliance self assessment,

strategy of the Bank, while at the same time conforming

using the check list developed by the Directorate

with the regulations of Bank Indonesia pursuant to Bank

of Compliance. Thereafter, for the approval of

Indonesia Regulation No. 1/6/PBI/1999 regarding the

even higher amounts of credits, the Directorate of

Assignment of Compliance Director and the Application

Compliance submits independent opinions. It also

of Internal Audit Function for Commercial Bank, and

attends the meetings of the Credit Committee as a

Bank Indonesia Regulation No. 8/4/PBI/2006 regarding the implementation of Good Corporate Governance for Commercial Bank.

and socialization of prevailing regulations.

are:

Implementation of Know Your Customer (KYC)/ Anti Money Laundering (AML)

• Ensure the compliance of all work units to

The Compliance Division is also responsible for the

The main functions of the Directorate of Compliance

prevailing rules and regulations, including the

implementation of the KYC and AML principles.

regulations of Bank Indonesia, and the internal

In implementing the principles of KYC and AML, the

policies and procedures of Bank Bukopin.

following have been executed:

• Ensure the adequacy of policies and procedures in all of Bank Bukopin’s business and operational activities • Monitor and maintain Bank Bukopin’s business activities from violating prevailing regulations. • Monitor and maintain operational activities in all work units so they will conform with the policies and procedures already set. • Monitor and maintain the compliance of all work units to all of the agreements and commitments made by Bank Bukopin to Bank Indonesia and

• Continuous implementation and development of the Anti Money Laundering System for identifying suspicious financial transactions. • Detecting certain amounts of financial transactions and identifying high-risk candidate clients, e.g. candidate clients originating from high-risk countries. • Identifying high-risk businesses, i.e. those possibly used for money laundering or for financing terrorists. • Continuously researching, monitoring and

other authorities in relation with Bank Bukopin’s

socializing the implementation of KYC and AML.

status as a public company.

The socializing is done through face-to-face

• Apply the Know Your Customer and the Anti Money Laundering policies. • Encourage the culture of compliance among all employees of Bank Bukopin.

86

special category member of the Credit Committee. • Develop electronic media for the dissemination


meeting with the related work units and through the internal website created by the Compliance Division. Through this internal website, the Compliance Division can easily socialize newly

validated Bank Indonesia regulations, and other

Throughout the period reported, the Compliance

regulations related to banking, to all work units.

Division has among others:

In a conditions where the implementation of a

1. Given its opinion concerning the draft of business

regulation requires a discussion process with

regulations/policies and their changes through the

the related work units, the Compliance Division

process of testing/evaluation of matching against

created a question-and-answer forum in the

prevailing rules and regulations.

internal website for just this purpose.

2. Ensured the adequacy of the internal regulations/ policies of the bank in implementing the

The process of socialising and discussing important

principles of prudence and in the execution of

issues from the validation of rules and regulations

Good Corporate Governance (GCG), including

includes various training opportunities. As for strategic

encouraging the re-formulation of the culture of

issues, the socialising is done in writing using the

the company and of the code of ethics of Bank

Compliance Division memorandum/opinion sheet. This is necessary to mitigate the potential compliance

Bukopin. 3. Tested (stated opinion on) 426 credit approvals of

risk and legal risk that may arise due to different

certain amounts, and has attended the meetings

interpretations in implementing a regulation.

of the Credit Committee as a special category member that does not have a limit on agreements.

Apart from that, the Compliance Division also tests

4. Monitored the execution of the business plans

compliance to draft policies and procedures that will

of Bank Bukopin already committed with Bank

be applied internally at Bank Bukopin. Compliance

Indonesia, and has also monitored the financial

tests are also done to the drafts for new products

and non-financial performance related to the

and activities as part of the implementation of

health evaluation of Bank Bukopin.

the management as regulated by Bank Indonesia Regulation No. 5/8/PBI/2003.

5. Mapped out the results of the IAU evaluation in order to discover the effectiveness of the execution of policies and to monitor the follow-up actions.

Compliance Statement

6. Developed and evaluated the system and

The Compliance Division, as a task force formed in

mechanism of online reportages (Compliance Self

running some of the functions of the Compliance

Assessment).

Director, periodically submits the reports for the execution of its duties and responsibilities.

7. Monitored the adequacy of policies and procedures related to the implementation of Risk Management in using Informational Technology.

In relation with the execution of the functions as

8. Monitored the effectiveness of the security system

stipulated in the Regulations of Bank Indonesia, the

in activities related to the development and

Compliance Director and the President Director have

procurement of Informational Technology.

submitted the Report on the Execution of the Duties and Responsibilities of the Compliance Director to BI on time each semester. For the 2nd semester of 2007 and the 1st semester of 2008 periods, the reports have

9. Monitored activities related to the implementation of the results of Bank Bukopin’s Review on its Core Banking System. 10. Formulated and adjusted the TSI regulations/

been submitted through letters No. 0748/DIR/I/2008

policies/guidelines to Bank Indonesia Regulation

and No. 5855/DIR/VII/2008, respectively

No. 9/15/2007 (development and procurement). 11. Monitored activities related to User Acceptance Tests and to recommendations for applications. 12. Monitored the implementation of the credit card management application (EMV-Comply).


87

13. Reviewed the Guidelines to the Know Your Customer Principle. 14. Monitored the indicated financial transactions that work units have not reported. 15. Reported suspicious cash and financial

Reserves. However, the Bank has been found to have committed administrative violation - albeit not material - related to the lateness or revision of the submission of the Bank’s monthly reports to Bank Indonesia.

transactions. 16. Socialised the implementation of KYC and AML in service and operational management workshops. 17. Monitored the completion of the filing of KYC

Future Plans As part of the plan for the year 2009 and subsequent years, the Compliance Division is committed to

applications in opening new accounts, especially

continue monitoring its compliance to prevailing

those related to transactional profiles.

regulations and to inculcating the understanding of all

18. Socialised and consulted the implementation of Bank Indonesia Regulations and other rules and

units of the organization in maintaining compliance to prevailing regulations.

regulations. 19. Socialised the implementation of the Anti Money

INTERNAL AUDIT

Laundering System.

Overview The reviews of the results for the implementation

The Internal Audit Unit (IAU) serves to assist the Board

of the compliance aspect showed that in general,

of Commissioners in conducting its supervisory role

compliance is already part of the consciousness and

and assisting the Board of Directors in ensuring the

basis for every business and operational decision-

adequacy and effectiveness of the Bank’s internal

making in all working units.

controls, by way of rendering objective, independent and consultative assessment activity towards the

The Discharge of Duties and the Independence of Directors

adequacy and effectiveness of risk management, the

The Directorate Compliance and the Compliance

In carrying out its function, IAU refers to the

Division have both ran effectively as expected. In

regulation of Bank Indonesia (PBI) No. 1/6/PBI/1999

accordance with the health evaluation of Bank

on the Assignment of the Compliance Director and

Bukopin, the evaluation of credit quality with ceiling

Implementation of a Commercial Bank Internal Audit

of up to Rp10 billion requires the use of only one

Function Execution Standard (SPFAIB), as well as best

pillar, i.e. the debtor’s timeliness in paying the loan

practices in internal audits. Elaborating further from PBI

principal and interest. This is an incentive for the

No.1/6/PBI/1999, these internal audit best practices

Bank as stipulated in Regulation of Bank Indonesia

were transcribed on the Internal Audit Charter and

No. 9/PBI/2006 concerning the Amendment to the

several internal audit guidelines, including risk based

Regulation of Bank Indonesia No. 7/2/PBI/2005 on the

audit.

internal control system and corporate governance.

Quality Evaluation of the Assets of Commercial Banks. The Head of the IAU is appointed and terminated The effectiveness of the discharge of duties, and of

by the Board of Directors with prior approval

the independence of the Compliance Director and

from the Board of Commissioners, and reported

Compliance Division, are also reflected in the lack

to Bank Indonesia. The Head of IAU reports to the

of violations done by the Bank in relation with the

President Director and has the authority to directly

application of the principles of prudence, such as for

communicate with the Board of Commissioners for the

the regulations on the minimum Capital Adequacy

purpose of informing various pertinent matters related

Ratio, the Legal Lending Limit, the Net Open Position,

to the audit findings.

the Quality of Assets, and the Minimum Statutory

88


The scope of internal audit covers the entire aspects

Focus of Activities in 2008

and elements of banking activities. In conducting these

Effective February 2008, changes were made on the

audits, IAU has the authority to access every source

Organisational Structure of the Bank, including the

of information (that is needed). The IAU is free from

Organisational Structure of IAU. These changes seek

interferences by any party in reference to its duties,

to improve the effectiveness of the audit activities.

as well as communicating the audit results to all

As of 13 December 2008, IAU had 54 employees

parties concerned, to ensure that the audit findings are

of various educational and work experience

responded and followed up accordingly.

backgrounds, of which 19 were located in the Head Office, and 35 located in the branches (as Branch

The IAU activities are carried out based on the Annual

Audit Staff). The status of the Branch Audit Staff is that

Business Plan and Budget which is formulated with

of a Head Office employee with a reporting chain

reference to the Corporate Business Plan, and the

that goes directly to the Head of the IAU, making

evaluation on inherent risk of the business plan.

them structurally independent from Branch Office

To maintain the Bank’s professionalism standard in

Management. Throughout 2008, there were 32

executing the internal audit function, Bank Bukopin

educational programs undertaken by IAU personnel,

establishes minimum requirements of education,

including the Risk Management Certification Test.

work experience and Ethical Code of Profession of its internal auditors. Improvement on internal auditor

Throughout 2008, IAU executed a total of 130 on-

competence and comprehension is organized through

site audits on various business/work units/divisional

various training programs and duty rotations.

processes, both at Head Office and Branch Offices. These include 20 Branch General Audits. Compared

Independent assessment on the quality of IAU is

to the Audit Work Plans for 2008, the actual coverage

conducted by a competent and independent external

reached 127%. Apart from on-site audits, IAU also

institution, for at least once every three years. Reports

executed various off-site audit activities for various

on the results of reviews are also submitted to Bank

interests, including to support the implementation of

Indonesia, which quotes opinion on IAU performance

the Risk Based Audit approach.

and compliance result to the Implementation Standards of the Internal Audit Function of the Bank,

In addition to executing risk-based audits, IAU also

PBI No. 1/6/PBI/1999, as well as the recommended

executed the following activities in order to support

possible improvements. The latest review, i.e. for

the implementation of the Bank’s Risk Management:

the years 2005-2007 period, was executed by PAO

- Validated the Quarterly Risk Profile Reports

Kosasih and Nurdiyaman.

created by the Risk Management Division. - Supported the Risk Management Division in

Aside from executing audits, IAU always seeks to be able to discharge its duties as consultants for the internal parties of the Bank that may require

identifying and recording Loss Data Events. - Supported the Risk Management Division in executing Risk Self Assessment.

consultation - especially for issues related to the scope of IAU’s duties: the internal control system.

Work Plan for 2009

Additionally, SKAI is also responsible for coordinating

In order to improve the effectiveness of the internal

its activities with those of external auditors (Bank

audit function, the focus of IAU activities as stated in

Indonesia, Public Accounting Firms, etc.) such that a

the Work and Budget Plans for 2009 were as follows:

comprehensive and optimum result can be obtained.

- Recruit new personnel for several vacant positions. - Undertake certified educational programs (CISA, CIA, Risk Management Certification Tests).


89

- Execute the automation of IAU management,

appointed the Public Accountant, Iman Sarwoko

including the auditing process. This has the

(with a Practice Permit no. KEP-817/KM.17/1998 of

objective of, among others, improving the quality

29 September 1998) and the PAF Purwantono,

of the implementation of Risk Based Audits and

Sarwoko & Sandjaja, domiciled in BEJ Tower II-7th Fl.,

as a follow-up to several recommendations for

Jl. Jend. Sudirman Kav 52-53, Jakarta 12190 as

improvement based on the results of the reviews

the appointed Public Accountant and PAF to undertake

on internal auditing function for the 2005-2007

a general audit on the financial statements of the Bank

by the Public Accounting Firm of Kosasih &

for the year ending 31 December 2008.

Nurdiyaman. - Execute audits towards audit objects considered to

The appointment of Iman Sarwoko and the PAF of

have high risk in accordance with the completed

Purwantono, Sarwoko & Sandjaja, as the respective

risk profile.

Public Accountant and PAF appointed to undertake the general audit on the consolidated financial statements

PUBLIC ACCOUNTANT

of the Bank for the year ending 31 December 2008, represents a first appointment for a general audit

The GMS of the Bank for the financial year 2007, held

of the Bank’s financial statements. The general

on 22 May 2008, granted the authority and power

audit on the financial statements of the Bank for

to the Board of Commissioners to appoint the Public

the previous financial year was undertaken by Lucy

Accounting Firm (PAF) to undertake the general audit

Luciana Suhenda of the PAF of Haryanto Sahari &

on the consolidated financial statements of the Bank

Rekan, as the appointed Public Accountant and PAF,

for the year ending on 31 December 2008. The

respectively.

appointment must be based on the limited tender for the procurement of general auditing services

The legality of the appointment is bound in an

in accordance with the criteria set in the GMS of

Appointment Contract between PT Bank Bukopin Tbk

the Bank for the financial year 2007, in which the

and the PAF of Purwantono, Sarwoko & Sandjaja

appointed PAF should be:

concerning the Agreement between PT Bank Bukopin Tbk

- Listed in both Bank Indonesia and Bapepam-LK

and PAF Purwantono, Sarwoko & Sandjaja in relation

- Included in the Big Ten List of registered PAFs

with the Audit on the Financial Statements and on

- Internationally affiliated

the Implementation of Agreed-upon Procedures

- Experienced in auditing banks that are publicly

concerning the Report on the Results of the Work

listed.

Evaluation of the Performance of PT Bank Bukopin Tbk for the year ending 31 December 2008

In addition to the above criteria, the Bank also pays

(No: 418/DIR/DPKA/XII/2008) dated 18 December

attention to the related stipulations issued by Bank

2008. The scope of works, audit reports and

Indonesia and Bapepam-LK, especially those related

contents of the Appointment Contract have been

to the independence and to the limitation of audit

formulated in accordance with prevailing Bank

appointment for Public Accountants and PAFs in order

Indonesia regulations, especially those concerning the

to be able to provide professional services in the form

Transparency of the Financial Condition of the Bank.

of general audit services. Before and throughout the duration of the general Based on the recommendation of the Audit Committee

audit, the PAF has communicated and continues to

on the results for the tender for the procurement of

communicate with Bank Indonesia. In discharging

general audit services already executed, the Bank

90


their duties, the appointed Public Accountant and

The implementation of loans disbursement to affiliated

PAF are able to work independently, are up to the

parties and/or large loan exposures must refer to the

professional standards of Public Accountants and of

Regulation of Bank Indonesia concerning the Legal

the agreed Appointment Contract. The reports for the

Lending Limit for Commercial Banks, while the

audit results and the Management Letter have been

disbursement of loans to affiliated parties must first be

submitted to interested parties on 20 April 2009 and

approved by the Board of Commissioners.

30 April 2009, respectively. Should the quality of loans to affiliated parties become

RISK MANAGEMENT

compromised, doubtful or non-performing, the Bank is obligated to take remedial steps to address such

A more comprehensive discussion on the

conditions by:

implementation of Risk Management at Bank

• Executing a full credit repayment at the latest

Bukopin is shown in the discussion concerning Risk

within 60 (sixty) days since the fall in the quality of

Management located on page 60 of this Annual

loans; and or

Report.

• Restructuring the credit.

DISBURSEMENT OF LOANS TO THE RELATED PARTIES AND DISBURSEMENT OF LARGE LOANS

STRATEGIC PLAN 1. Short Term a. Continuing the Implementation of the 6 (six)

Bank Indonesia regulations concerning the Legal Lending Limit of Commercial Banks stipulate the

Policies of Bank Bukopin.

The short term target of Bank Bukopin is to

maximum limit of credits granted to parties that are

continue the implementation of 6 (six) policies,

related to the bank not to exceed 10% of the bank’s

i.e. the refocusing of business segmentation,

total equity. Throughout the years 2008 and 2007,

reorganisation, outlet revitalising, development

Bank Bukopin had neither violated nor exceeded the

of human resources, enforcement and increase

Legal Lending Limit.

of fee-based income. b. Obtaining Quality Credit Portfolio.

In order to avoid business failure of the Bank due to an

In expanding its credit, Bank Bukopin remains

over- concentration of lending and in order to improve

focused on the MSME (Micro, Small, and

the independence of the managers of the Bank from

Medium Enterprise) segment, adjusted to the

potential intervention by related parties, the Bank

premium segment of each business area. The

applies the principles of prudence in providing loans,

premium segment is low-risk businesses. Apart

among others by implementing the diversification of

from that, the credit granting process must keep

the loans portfolio.

on implementing the principle of prudence. c. Implementing the IT Strategic Plan of

The Bank formulates the guidelines, policies, and

Bank Bukopin in order to implement the

procedures concerning the disbursement of loans

Circular of Bank Indonesia No.9/30/DPNP

to affiliated parties and/or the disbursement of large

dated 12 December, 2007 concerning the

loan amounts as stipulated in the Regulation of Bank

Implementation of Risk Management in the

Indonesia concerning the Legal Lending Limit for

Use of Information Technology by Commercial

Commercial Banks.

Banks, by enhancing technology-based information systems. In 2010, Bank Bukopin will follow-up on the results of the reviews of its core banking system.


91

d. Focusing on Individual Sources for Funding.

business without foregoing the potential of

In order to disperse the risk and over-

commercial banking. It also strives to achieve an

dependency on funding sources that are limited

equity base of Rp100 billion to Rp10 trillion.

to a few parties, the customer base must be expanded in order to improve the third-party

In order to achieve its business targets as stated in its

funding composition or structure, and in order

vision and mission, the Bank prepares well-designed

to obtain more cost-effective financial sources.

plans that consider the principles of prudence and that

e. Acceleration of Micro Business Growth.

are responsive to both external and internal changes.

Apart from being able to develop the Swamitra

These plans are in the form of corporate plans and

service, Bank Bukopin sharpens its market

business plans.

penetration by opening the Micro Direct Unit, which is expected to be able to improve the

The submission of corporate plans and their

service towards the vast numbers of micro and

amendments to Bank Indonesia refers to the

small businesses.

regulations of Bank Indonesia on Commercial Banks.

f. Efficiency in Managing the Operations of the

The formulation and submission of business plans refer

Bank.

to Bank Indonesia regulation concerning the Business

Efficiency is obtained by managing certain

Plans of Commercial Banks.

costs and by investing in the latest technology. g. Spin Off of the Sharia Business Unit.

business plans of the Bank includes:

banking, Bank Bukopin will execute the spin

1. Formulating realistic business plans.

off of its Sharia Business Unit, to become Bank

2. Socialising these business plans to shareholders

Syariah Bukopin. The spin-off is expected to be completed in the first Semester of 2009. h Increasing Fee-Based Income.

Bank Bukopin has set the target for its feebased income for 2009 and continuously

4. Submitting business plans to Bank Indonesia at the latest one month after the present year is started. 5. Submitting the amendments to the business plans in case of adjustments from Bank Indonesia at the

result in more fee-based income.

latest 15 working days following the date of the

Bank Bukopin sets the target to be among the

announcement letter from Bank Indonesia. 6. Submitting the changes in the business plans as

Top Five Banks in service. To achieve this,

necessary, in case of minimum external factors

it continuously improves the quality of its

that could significantly influence the financial

services in order to satisfy its customers

condition of the Bank.

2. Medium Term.

The responsibility of the Board of Commissioners in

Referring to the Indonesian Banking Architecture,

the business plans of the Bank includes:

Bank has the intent of being one of the 30-50

1. Approving the business plans submitted by the

banks that focus their businesses in retail banking: the segment for cooperative business, for micro, small and medium business, and for consumer

92

and through all levels of the organisation. 3. Effectively managing the business of the Bank.

searches for business potentials that would i. Service.

The responsibility of the Board of Directors in these

In order to develop the business of sharia


Board of Directors. 2. Monitoring the implementation of business plans.

3. Approving the adjustments/changes of business plans submitted by Board of Directors. 4. Submitting the monitoring reports for the implementation of business to Bank Indonesia every semester, at the latest two months after the

• Comparability - the information submitted can be compared from one period to another. For this need, consistency in the implementation of accounting policies and procedures is necessary • Materiality - material information that can

stated semester ends. These include at least:

influence the judgement or decision making of the

• The opinion of the Board of Commissioners

user of the information is presented clearly.

concerning the implementation of the business plans of the Bank.. • Evaluation of factors that influence the performance of the Bank. • The opinion of the Board of Commissioners

In implementing the transparency of its financial condition, the Bank is obligated to formulate and submit the reports in the manners, types, and scopes as stipulated in the regulations of Bank Indonesia

concerning the efforts to improve the

concerning the Transparency of the Financial

performance of the Bank.

Conditions of Commercial Banks.

TRANSPARENCY OF THE FINANCIAL AND NON-FINANCIAL CONDITIONS OF THE BANK

In order to improve the transparency of financial conditions, the financial reports that must be formulated and submitted include: • Annual Reports;

In creating market discipline and in order to

• Published Quarterly Financial Reports;

simplify evaluation among market players, the Bank

• Published Monthly Financial Reports;

implements transparency of the financial and non-

• Consolidated Financial Reports.

financial conditions of the Bank to the stakeholders with due consideration of the competitive factor

As part of the Bank’s efforts to implement transparency,

between banks.

it implements informational transparency concerning

The principles of transparency in submitting financial

its products and the use of customer-base data

information of the Bank include: • Comprehensiveness - the information submitted

with reference to the conditions and procedures as stipulated in the regulations of Bank Indonesia

is consolidated and describes the results of

concerning the Transparency of Information

operations and the financial condition of the Bank

concerning Banking Products and the Use of the

in full - down to the financial conditions of the

Personal Data of the Customers.

Bank’s subsidiaries. • Relevant and up to date. • Reliability - the information submitted perfectly describes the current performance and conditions achieved, and it states the future plans for achievement.


93

Exercise of MSOP No. 1

Type of Convertible Securities MSOP PT. BANK BUKOPIN Tbk Phase I Period of Exercise: Year 2007 I. Within 30 stock-trading days from 10 July 2007 II. Within 30 stock-trading days from 1 November 2007 Year 2008 I. Within 30 stock-trading days from 10 July 2008 II. Within 30 stock-trading days from 1 November 2008 Year 2009 I. Within 30 stock-trading days from 10 July 2009 II. Within 30 stock-trading days from 1 November 2009 Year 2010 I. Within 30 stock-trading days from 10 July 2010 II. Within 30 stock-trading days from 1 November 2010 Year 2011 I. Within 30 stock-trading days from 10 July 2011 II. Within 30 stock-trading days from 1 November 2011 Price of Exercise per share Rp370,-

Number of Shares in the MSOP

Number of Newly Issued Shares from the MSOP Exercise

Remaining Shares in the MSOP

47,864,000 39,370,500

64,638,000 25,267,500

740,500

24,527,000

780,500

83,596,000

88,755,500

192,499,500

112,502,000

Phase II Period of Exercise: Year 2008 I. Within 30 stock-trading days from 10 July 2008 II. Within 30 stock-trading days from 1 November 2008 Year 2009 I. Within 30 stock-trading days from 10 July 2009 II. Within 30 stock-trading days from 1 November 2009 Year 2010 I. Within 30 stock-trading days from 10 July 2010 II. Within 30 stock-trading days from 1 November 2010 Year 2011 I. Within 30 stock-trading days from 10 July 2011 II. Within 30 stock-trading days from 1 November 2011 Year 2012 I. Within 30 stock-trading days from 10 July 2012 II. Within 30 stock-trading days from 1 November 2012 Price of Exercise per share Rp370,-

84,376,500

Phase II Period of Exercise: Year 2009 I. Within 30 stock-trading days from 10 July 2009 II. Within 30 stock-trading days from 1 November 2009 Year 2010 I. Within 30 stock-trading days from 10 July 2010 II. Within 30 stock-trading days from 1 November 2010 Year 2011 I. Within 30 stock-trading days from 10 July 2011 II. Within 30 stock-trading days from 1 November 2011 Year 2012 I. Within 30 stock-trading days from 10 July 2012 II. Within 30 stock-trading days from 1 November 2012 Year 2013 I. Within 30 stock-trading days from 10 July 2013 II. Within 30 stock-trading days from 1 November 2013

84,376,500

Price of Exercise per share Rp370,TOTAL :

94


281,255,000

Law Suits (Litigation Case)

MSOP

Law suit problems include civil and criminal cases that The Issuance of New Shares Resulting from the

are faced by Bank Bukopin during the year and have

Exercise of the Management Stock Option Program

been submitted to due process.

(MSOP) throughout the year 2008 is presented in the

Litigation Cases

following page:

The Highest and the Lowest Salary Ratio

Legal Cases

Salary is an employee’s right that is accepted and stated in the form of money as a compensation from Bank or employer to employee, defined and paid

Completed

Total Civil

Criminal

-

1

according to an employment contract, agreement

Due Process

28

1

or regulation, including allowance for the employee

Total

28

2

and his/her family upon a job and/or service that was already done by him/her.

Internal Reporting and Conflicts of Interest

The information below explains the salary comparison ratio within Bank Bukopin. The salaries compared on the salary ratio below are the monthly compensation accepted by members of the Board of Commissioners, Directors and permanent employees of Bank Bukopin.

Ratio between Highest and Lowest Salaries Description Employee’s salary

Ratio of the Highest and the Lowest Salary 15,13 : 1

Director’s salary

1,25 : 1

Commissioner’s honorarium

1,29 : 1

Ratio of Highest Director’s Salary and Highest Employee’s Salary 3,13 : 1

Internal Fraud Internal fraud is a deviation/fraudulent action that was done by the Management, a permanent and temporary

Internal Reporting • In order to improve the quality of the decisionmaking process of the Board of Directors and the quality of the monitoring processes of the Board of Commissioners, the Bank is obligated to ensure the availability and adequacy of Internal Reporting, supported by an adequate management information system. • Internal Reporting is all types of reports created by the Board of Directors for the Board of Commissioners, and created by work units for the Board of Directors and/or Board of Commissioners. Conflicts of Interest • Conflict of Interest is the difference between the economic interest of the Bank with the personal economic interest of the owner, or members of the Board of Commissioners, the Board of Directors, the Executive Officers, and/or Parties related to the Bank.

employee (honoree and outsourcing) related with work processes and Bank operational activities that significantly influence the Bank’s financial condition, if the loss from this deviation is Rp100,000,000 (hundred million rupiah) or more.


95

Total of Internal Fraud Number of Fraud Cases Committed by

Description

Contract Employees

2008

2007

2008

2007

2008

2007

Number of fraud cases

-

-

-

1

-

-

Resolved cases

-

-

-

-

-

-

Being resolved through the Bank’s internal process

-

-

-

1

-

-

Awaiting process

-

-

-

-

-

-

Under due process of law

-

-

-

-

-

-

• In cases of Conflict of Interest, the members of the Board of Commissioners, the Board of Directors and the Executive Officers are prohibited from taking actions that may compromise the Bank or reduce the profit of the Bank, and they are obligated to mention the conflicting interests in all of the decisions they make. • Members of the Board of Directors, or any of the Officers of the Bank authorized by the Board of Directors, do not have the authority to represent the Bank if they have any conflicting interest with the Bank. Buy Back of Shares and/or Bonds in 2008, Bank Bukopin has exercised the call option or Buy Back on all of the Series A Bonds of Bank Bukopin year 2003 and the Sharia Mudharabah Bonds of Bank Bukopin year 2003.

Funding for Social and Political Activities Throughout 2008, in accordance with the Corporate Governance Policy, Bank Bukopin is prohibited from being involved in any political activity, including giving donations for political interests.

96

Permanent Employees

Board Members


The details of the funds granted - the receivers of the funds, the amount of funds granted, and the activities done by Bank Bukopin for social interests - are described in more detail and depth in the discussion of the Bank’s Corporate Social Responsibility, starting on page 106 of this Annual Report.

REPORT AND ASSESSMENT OF CORPORATE GOVERNANCE Self Assessment Pursuant to Bank Indonesia regulation on GCG, in 2008, Bank Bukopin undertook a self assessment of its GCG as follows: The self Self assessment is carried out on 11 aspects, namely: 1. Execution of the Duties and Responsibilities of

the Board of Commissioners

2. Execution of the Duties and Responsibilities of

the Board of Directors

3. Adequacy and Execution of the Duties of Committees 4. Management of Conflict of Interest 5. Implementation of Bank Compliance 6. Implementation of Internal Audit

7. Implementation of External Audit 8. Implementation of Risk Management and Internal Controls 9. Lending and Funding to and from Related Parties and Large Debtors 10. Transparency on the Bank’s Financial and

Non-Financial Conditions, GCG Implementation Report and Internal Report

11. Strategic Business Plan The ratings for the above aspects are based on the performance of the GCG implementation that is bench-marked against the minimum criteria of Bank Indonesia.

General Conclusion on the Results of Self Assessment on the Implementation of Good Corporate Governance Based on the result of the self assessment on the implementation of Good Corporate Governance for the year 2008, the followings are the general conclusions:

Ratings of the Respective GCG Assessment Factors No

Factors

Rating

1

Roles and Responsibilities of the Board of Commissioners

1

2

Roles and Responsibilities of the Board of Directors

1

3

Adequacy and Execution of the Duties of Committees

2

4

Bank Compliance Function

1

5

Internal Audit Function

1

6

External Audit Function

1

7

Risk Management and Internal Control

2

8

Lending and Fund Provision to Related Parties and Large Debtors

2

9

Strategic Plan

2

10

Transparency on the Bank’s Financial and Non-Financial Conditions

1

11

GCG Implementation Report

2

12

Internal Report

3

13

Management of Conflict of Interest

2

Composite Score = 1,525 with a corporate governance predicate of Good


97

Follow-up Plans of the Self Assessment GCG Execution Year 2008 No 1

Factors

Follow-up Plans

Execution of Roles and Responsibilities of the Board of Commissioners

• The BOC meetings will include in the agenda discussions on GCG issues at least twice a year. • Disclosure statements will be made on ownership of shares in other companies, to be updated as needed or at least once a year. • Endorsement of the draft on the policies for the protocol on BOC duties.

Continuous Continuous 4th Quarter 2009

2

Execution of Roles and Responsibilities of the Board of Directors

Endorsement of the on the policies for the protocol on BOD duties.

4th Quarter 2009

3

Committees

• Will enhance expertise in the area of risk management for members of the Risk Management Committee, especially the independent members. • Will standardise systems and procedures for the replacement of members of BOC and BOD.

4th Quarter 2009

4

Risk Management and Internal Control Function

The Bank will continue to enhance all protocols of risk management in line with international best practices and referring to the road map of Bank Indonesia for the implementation of the Basel II Accord.

4th Quarter 2009

5

Lending and Fund Provision to Related Parties and Large Debtors

The Bank will broaden the diversification of its loan disbursement.

Continuous

6

Corporate Plan and Business Plan of the Commercial Bank

The Bank will constantly seek to improve the formulation of its corporate plan and business plan.

Continuous

7

Transparency on the Bank’s Financial and Non-Financial Conditions

The Bank will continue to enhance transparency of financial and non-financial information.

Continuous

8

Internal Report

The Bank will continuously strive to undertake improvements on its management information system.

Continuous

Strength in the implementation of GCG Execution of the Duties and Responsibilities of the Board of Commissioners: 1. The composition and competence of the Board

98

Execution Target

2. The Board of Commissioners has acted and made its decisions independently. 3. The execution of the duties and responsibilities of the Board of Commissioners is fully in line with the

of Commissioners are well suited for the size and

principles of GCG, has been effective without even

complexity of the Bank’s business.

minor deficiencies.


4. Meetings of the Board of Commissioners have

3. The latest work guidelines and systems and

been convened effectively and efficiently.

procedures at every level of the organisation are

5. The transparency aspect of the Board of

available in adequate and comprehensive scope.

Commissioners is excellent and has never made any violation of prevailing laws and regulations.

Function of Internal Audit: 1. Execution of internal audits has been extremely

Execution of the Duties and Responsibilities of the

effective, in line with internal guidelines and the

Board of Directors.

minimum standards of SPFAIB, without even

Duties and Responsibilities of the BOD:

minor deficiencies.

1. The composition and competence of the Board

2. The IAU has carried out its function independently

of Directors are well suited for the size and

and objectively.

complexity of the Bank’s business. 2. The Board of Directors has acted and made its decisions independently.

Function of External Audit: 1. The audit execution of the Public Accounting Firm

3. The execution of the duties and responsibilities

has been effective and in line with the agreed

of the Board of Directors is fully in line with the principles of GCG, and has been effective without

minimum scope of assignments. 2. The quality and scope of audit results by the Public

even minor deficiencies.

Accountant have been excellent.

4. Meetings of the Board of Directors have been

3. The audit has been undertaken by the independent

convened effectively and efficiently.

Public Accountant/PAF that have conformed with

5. The transparency aspect of the Board of Directors

the required criteria.

is excellent and has never made any violation of prevailing regulations.

Transparency of Financial and Non-Financial Condition:

The Bank’s Compliance Function:

1. Both financial and non-financial information are

1. The compliance of the Bank is considered excellent and has never made any violation of

adequate and conform with prevailing regulations. 2. The Bank has disseminated both financial and non-

prevailing regulations and commitments.

financial information to all stakeholders that are

2. The execution of the duties and independency

not limited to meeting statutory requirements and

of the Director of Compliance and Compliance

are highly accessible by the stakeholders.

Working Unit has been effective.

PT Bank Bukopin Tbk

Glen Glenardi

Saean Achmady

President Director



99

CORPORATE SECRETARY

2. Riyanto, who had served from March 2008 until August 2008, was replaced by Tantri Wulandari;

Every publicly listed company is required to set up the

the change of which had been reported to the

Corporate Secretary function pursuant to Bapepam

Indonesia Stock Exchange on 20 August 2008.

regulation No.IX.1.4 on the establishment of Corporate Secretary in order to enhance the service of issuers or

A brief profile of the current Corporate Secretary of

publicly held companies to their stakeholders.

Bank Bukopin is as follow:

The Corporate Secretary is in charge of assisting the Board of Commissioners and the Board of Directors as

Tantri Wulandari

well as ensuring that all minutes of the meetings are

Corporate Secretary, 43 years of age.

well documented. Born in Bogor on 23 August 1965. In addition, the Corporate Secretary is also responsible

Appointed Corporate Secretary in August 2008

for building effective communications with the

based on the Decision Letter of the BOD of

Bank’s stakeholders, which among others include

Bank Bukopin No. SKEP/397-DIR/07/2008

the availability of material information on the Bank’s

dated 3 July 2008.

performance on an equal basis, accurately and timely; and providing input to the Board of Directors in

Currently she also serves as Head of the Capital

support of the decision making process.

Market Division of Bank Bukopin, a position she has held since May 2008. She has been

The Corporate Secretary also serves as a liaison

with the Bank for 17 years, and last served as

between Bank Bukopin and the capital market

the Investor Relations Manager (June 2007-

authorities, shareholders, the investing public, and

May 2008). She has taken various courses as

the mass media.

part of her professional training.

The dissemination of information to investors

She holds a Master’s degree in Management

and other stakeholders is conducted through

from Prasetya Mulya (2004) and graduated

various media, including the General Meeting of

from the Bogor Institute of Agriculture in 1989.

Shareholders, the publication of periodical financial reports (quarterly, half-yearly and annually), press releases, public exposes, analyst meetings, one on

Investor Relations and Media

one meetings, road shows, in-house magazines and

Bank Bukopin facilitates investors and capital market

newsletters, and official website, www.bukopin.co.id.

analysts with equal rights provided to shareholders for

The Corporate Secretary is also responsible in ensuring

access to information on the performance of the Bank,

that the Bank complies will prevailing capital market

and provides information to these investors and capital

regulations.

market analysts through several investor relations and media relations activities.

In 2008, the Corporate Secretary of Bank Bukopin was changed twice, first:

The activities of investor and media relations during

1. Mulyana, who had served from April 2000 until

2008 were as follows:

March 2008, was replaced by Riyanto; the change

• Press Conference - 12 times

of which had been reported to the Indonesia Stock

• Media Coverage - 544 times

Exchange on 3 April 2008; and subsequently,

100 Bank Bukopin ANNUAL REPORT 2008

• Media gathering - 15 times

2008 Press Releases

• Ad hoc meetings with investors, analysts, securities

As part of the implementation of disclosure for the

houses, correspondent banks - 6 times

public, along year 2008, Bank Bukopin has issued 16

• Annual report - Once

press releases as presented in table below.

• Press releases - 16 times • Annual General Meeting of Shareholders - Once • Extraordinary General Meeting of Shareholders (twice), one of the resolutions of which was to approve the acquisition of PT Bank Persyarikatan Indonesia.

List of Press Releases in 2008 No.

Date

Subject

Description

1

16 January 2008

Bank Bukopin - PLN cooperation on PPOB & Payment or Topping-up of Prepaid Electricity Bill

PT Bank Bukopin Tbk and PT Perusahaan Listrik Negara / PLN (Persero) signed an agreement and extension on electricity payment facility through the Payment Point On Line Bank (PPOB) & payment or topping-up of prepaid electricity bills.

2

6 March 2008

Shareholders of Bank Bukopin approve the acquisition of BPI

The Extraordinary General Meeting of Shareholders (EGMS) of PT Bank Bukopin Tbk approves of the Bank’s equity participation in PT Bank Persyarikatan Indonesia (BPI). Prior to this acquisition, Bank Bukopin already holds 24.73% of the total issued shares of BPI.

3

24 March 2008

4

25 March 2008

Bank Bukopin engages four Regional Development Banks to finance a 2x30 MW power plant in Pontianak

PT Bank Bukopin Tbk (Bank Bukopin) together with four Regional Development Banks, namely Bank Jatim, Bank DKI, BPD Kaltim and Bank Kalbar provided a syndicated loan facility for the construction of a 2x30 MW steam-generated power plant in Pontianak, to a PT Equator Manunggal, an affiliate company of PT Truba Alam Manunggal Engineering Tbk that has its core business as an Independent Power Producer (IPP). In addition to being a Participating Bank, Bank Bukopin also acted as the Arranger and Syndicated Credit Agent for the financing.

5

30 March 2008

Profit of Bank Bukopin rose by 18.24% in 2007.

Significant growth in both credit and third-party funding as a result of aggressive promotion and market penetration, contributed positively to Bank Bukopin’s performance. This was evident from the profit before tax for the year ending 31 December 2007 (audited figures) that grew by 18.24% to Rp543.57 billion, compared to that of the year earlier period of Rp459.73 billion.

6

2 May 2008

Bank Bukopin sharpens its financial intermediary role and focuses its businesses on the MSMEC sector

Amid the growing pressure and uncertainties of a fluctuative economy in the first quarter of 2008, as a result of the volatile currency exchange rate and rising crude oil and petrol price, Bank Bukopin remains highly committed to serve its financial intermediary role consistently in support of the national economy, especially the real sector. This is reflected from its posting of loans outstanding amounting to Rp20.43 trillion in the first quarter of 2008, an increase of 36.34% from Rp14.92 trillion in the corresponding period of the previous year. In line with this growth, the Bank’s Loan to Deposit Ratio (LDR) also grew from 58.85% to 72.56% during the same two-year period.

Bank Bukopin launched the SiAga Savings with the New BMW 320i prize, the SiAga Savings with instant prizes and the Premium SiAga Savings.

Bank Bukopin ANNUAL REPORT 2008 101

No.

Date

Subject

Description

7

22 May 2008

Bank Bukopin convenes AGMS and EGMS: “Bank Bukopin declares cash dividends of Rp32.83 per share.”

PT Bank Bukopin Tbk convenes the Annual General Meeting of Shareholders (AGMS) for the financial year 2007 and Extraordinary General Meeting of Shareholders (EGMS). In the AGMS, the shareholders of Bank Bukopin agreed to distribute cash dividends amounting to Rp187.56 billion or Rp32.83 per share, or 50% of the consolidated net profit for the year 2007 amounting to Rp375.13 billion.

8

18 June 2008

Bank Bukopin launches the Bukopin SiAga Savings for Business

In order to fulfil customer needs, especially in product innovation that is suited the requirements and characteristics of specific customers, PT Bank Bukopin Tbk launches its latest savings product under the name of the Bukopin SiAga Bisnis Savings for its corporate customers.

9

24 June 2008

Bukopin Syariah Launches the iB Savings Plan

Bukopin Syariah launches a new product, the iB Savings Plan for customers of the Bukopin sharia banking unit. The initial, iB, stands for Islamic Banking.

10

31 July 2008

Bank Bukopin posts profit of Rp293 billion in the first semester of 2008.

PT Bank Bukopin Tbk announces unaudited profit before tax for the first semester of 2008 of Rp293 billion, a marginal increase of 0.69% from Rp291 billion in the corresponding period of the previous year.

11

4 August 2008

Public Expose of first semester financial results: Bank Bukopin achieves profit of Rp293.05 billion.”

Amid the pressures of a fluctuative economy in the first semester of 2008, as a result of the volatile currency exchange rate and rising crude oil and petrol price, Bank Bukopin has been able to consistently post an unaudited profit before tax for the first semester of 2008 amounting to Rp293.05 billion, a marginal increase of 0.69% from Rp291 billion in the corresponding period of the previous year.

12

22 September 2008

Bank Bukopin expands its business to multifinance

The competition in the financial industry has increased of late. From competition of interest rates among banks and financial institutions, competition in prizes, to the lowering of self-financing by debtors, all this has made the financial sector one of the most fiercely contested business turf that no bank can afford to ignore.

13

30 October 2008

Bank Bukopin posts profit before tax of Rp438.86 billion up to three quarters of 2008

PT Bank Bukopin Tbk (BBKP) announces unaudited profit before tax up to the three quarters of 2008 of Rp438.86 billion, an increase of 6.57% from the profit before tax of Rp411.81 billion in the corresponding period of the previous year.

14

31 October 2008

The Bukopin SiAga Savings launches the Point Smash Wokeee…!!! & Prize Draw of the New BMW 320i

As a mark of appreciation to the Bank’s customers, PT Bank Bukopin Tbk. once again launches a new program feature of the Bukopin SiAga Savings called the Point Smash Wokeee…!!! & Prize Draw for the New BMW 320i that will take place between 1 November 2008 - 31 March 2009.

15

12 November 2008

Bank Bukopin relocates its Main Branch Office in Bandung

Bank Bukopin inaugurates its new Main Branch Office in Bandung, which was relocated from the Sumatera Street to the Asia-Afrika Street. The office relocation is due to the rapid growth of the Bank’s business, inducing the Bank to seek for a more representative location and office in order to better serve its customers, business partners and other stakeholders in Bandung.

16

18 November 2008

Relocation of the Main Branch Office of Bank Bukopin in Pontianak

Bank Bukopin inaugurates its new Main Branch Office in Pontianak, relocating from Ir H Juanda Street No. 55 - 56 to Teuku Umar Street, Pontianak Mall Complex, Block D No. 1-3.


Correspondence with BAPEPAM-LK and the Indonesia Stock Exchange in 2008 (in which notices to Bapepam-LK are also conveyed to IDX, and vice-versa). Date

Addressee

Subject

02 January 2008

BAPEPAM-LK

Information disclosure on the plan of PT Bank Bukopin Tbk to increase its equity holding in PT Bank Persyarikatan Indonesia.

30 January 2008

BAPEPAM-LK

Notice of the plan to convene the Extraordinary General Meeting of Shareholders of PT Bank Bukopin Tbk.

06 February 2008

BAPEPAM-LK

Filing of proof of publication ads on the Acquisition Plan and proof of publication ads on the plan of the EGMS.

08 February 2008

BAPEPAM-LK

Forwarding of the Letter of the Minister of Justice & HAM No.AHU.AH.01.10-2537 dated 31 January 2008 on the Receipt of Notice for Amendment of the Articles of Association (Changes in the paid-up capital of PT Bank Bukopin Tbk).

19 February 2008

BAPEPAM-LK

Amendment of the agenda of the EGMS of PT Bank Bukopin Tbk.

20 February 2008

BAPEPAM-LK

Filing of proof of advertisement on the planned agenda of the EGMS of PT Bank Bukopin Tbk.

20 February 2008

BAPEPAM-LK

Forwarding of the Letter of the Minister of Justice & HAM No.AHU.AH.01.10-3591 dated 14 February 2008 on the Receipt of Notice for the Amendment of the Articles of Association (Changes in the paid-up capital of PT Bank Bukopin Tbk).

26 February 2008

BAPEPAM-LK

Filing of proof of advertisement on the amendment of the Summary BPI Acquisition Plan.

05 March 2008

BAPEPAM-LK

Notice of additional agenda for the EGMS of PT Bank Bukopin Tbk.

06 March 2008

BAPEPAM-LK

Report of the resolutions of the EGMS of PT Bank Bukopin Tbk.

06 March 2008

BAPEPAM-LK

Filing of proof of advertisement on the additional agenda of the EGMS of PT Bank Bukopin Tbk.

10 March 2008

BAPEPAM-LK

Filing of proof of advertisement on the resolutions of the EGMS of PT Bank Bukopin Tbk.

31 March 2008

BAPEPAM-LK

Filing of proof of advertisement on the publication of the financial statements of PT Bank Bukopin Tbk for fiscal year 2008.

01 April 2008

BAPEPAM-LK

Information disclosure report on the execution of the acquisition of PT Bank Persyarikatan Indonesia by PT Bank Bukopin Tbk.


Date

Addressee

Subject

17 April 2008

BAPEPAM-LK

Notice of the plan to convene the Annual General Meeting of Shareholders of Bank Bukopin foe fiscal year 2007 and EGMS.

23 April 2008

BAPEPAM-LK

Filing of proof of advertisement on the publication of the AGMS for fiscal year 2007 and EGMS of PT Bank Bukopin Tbk.

28 April 2008

BAPEPAM-LK

Filing of proof of advertisement on the publication of quarterly financial statements of PT Bank Bukopin Tbk, January-March 2008.

30 April 2008

BAPEPAM-LK

Filing of the 2007 Annual Report.

02 May 2008

BAPEPAM-LK

Filing of unaudited financial statements for first quarter 2008 of PT Bank Bukopin Tbk.

07 May 2008

BAPEPAM-LK

Filing of proof of advertisement on Notice of AGMS and EGMS of PT Bank Bukopin Tbk.

09 May 2008

BAPEPAM-LK

Filing of proof of advertisement on the Call Option for the Bank Bukopin Bonds of 2003.

23 May 2008

BAPEPAM-LK

Report on the resolutions of the AGMS for fiscal year 2007 and EGMS of PT Bank Bukopin Tbk.

26 May 2008

BAPEPAM-LK

Filing of proof of advertisement on the announcement of the resolutions of the AGMS and EGMS of PT Bank Bukopin Tbk.

18 June 2008

BAPEPAM-LK

Information disclosure on the change of name of PT Bank Persyarikatan Indonesia to PT Bank Syariah Bukopin.

22 July 2008

BAPEPAM-LK

Information disclosure on the change of name of PT Indo Trans Buana Multi Finance (ITBMF) to PT Bukopin Finance.

24 July 2008

BAPEPAM-LK Stakeholder Satisfaction Survey Team

Filing of the Bapepam-LK Stakeholder Satisfaction Survey.

31 July 2008

BAPEPAM-LK

Filing of proof of advertisement on the publication of quarterly financial statements of PT Bank Bukopin Tbk, April-June 2008.

31 July 2008

BAPEPAM-LK

Filing of quarterly financial statements of PT Bank Bukopin Tbk, April-June 2008.

21 August 2008

BAPEPAM-LK

Information disclosure on the change of name of a subsidiary company of PT Bank Bukopin Tbk.

22 August 2008

BAPEPAM-LK

Report on the execution of the MSOP of PT Bank Bukopin Tbk, first-phase and second-phase.

26 August 2008

BAPEPAM-LK

Amendment on the report on the execution of the MSOP of PT Bank Bukopin Tbk, first-phase and second-phase in 2008.


Date

Addressee

Subject

05 September 2008

BAPEPAM-LK

Information disclosure on the amendment to the Articles of Association of PT Bank Bukopin Tbk, pursuant to the Laws on Limited Liability Company.

29 October 2008

PT Bursa Efek Indonesia

Information disclosure on the plan for a Public Expose.

31 October 2008

BAPEPAM-LK

Filing of quarterly financial statements of PT Bank Bukopin Tbk, July-September 2008.

06 November 2008

BAPEPAM-LK

Report of the plan for the EGMS of a subsidiary company of PT Bank Bukopin Tbk.

10 November 2008

BAPEPAM-LK

Filing of the presentation materials of the Public Expose of PT Bank Bukopin Tbk.

14 November 2008

PT Bursa Efek Indonesia

Filing of the Results of the Public Expose of PT Bank Bukopin Tbk.

02 December 2008

BAPEPAM-LK

Response to inquiries on press news with respect to liquidity issues.

16 December 2008

BAPEPAM-LK

Notice for the plan to convene the EGMS of PT Bank Bukopin Tbk.


Corporate Social Responsibility

T

he CSR activities realised by Bank Bukopin have a sustainable concept that are designed in short, medium and long-term horizons, as part of the Bank’s development plan.

As an inseparable part of our communities, Bank

concept that are designed in short, medium and

Bukopin has a strong commitment to undertake its

long-term horizons, as part of the Bank’s development

Corporate Social Responsibility (CSR). This is due to

plan. These CSR programmes are sustainable in the

the fact that the success of the Bank is not irrespective

long-term, covering three main areas, namely education,

of the support of our communities. Therefore, it is

public healthcare and social welfare. Social welfare

appropriate if we should allocate some of the benefits

activities are not only physical in form, but also seek to

of our successes back to our communities, especially

improve the quality of life, for example religious life,

those in which Bank Bukopin operates.

sports activities and the expression of arts and culture.

The commitment is also encouraged by the fact

In education, Bank Bukopin undertakes sustainable

that CSR is an activity that is an integral part of the

programs to renovate school facilities, supply books

implementation of good corporate governance.

and computers, provide scholarships, and sponsor a variety of school competition, and supports training

As a responsible enterprise, Bank Bukopin does

activities for related members of the community,

not merely seek profit for profit alone, but also to

such as banking education, seminars, workshops and

contribute in increasing the economic prosperity and

others.

social welfare of its surrounding environment. The CSR activities realised by Bank Bukopin have a sustainable


In the health sector, Bank Bukopin initiates blood

the MTQ (Islamic prayers) competition. In addition,

donor activity as a routine annual tradition, which is

Bank Bukopin also sponsored various art activities

followed by both employees and the communities

organised by schools, foundations and institutions for

surrounding the Bank’s operations. Bank Bukopin

the communities of arts and culture.

also regularly provides treatment aids for patients of low income group. In 2008, Bank Bukopin provided

Showing its support for sports activities as well, Bank

assistance in the form of donations to the treatments

Bukopin sponsored a wide range of sports tournaments

of Hydrocephalus, stroke and mass circumcision.

held within its communities, from football meets to

In addition, Bank Bukopin funded the provision of

golf tournaments.

computer facilities for a hospital in Bogor, and support various programs organised by the Indonesian Heart

In the future, the CSR program of the Bank will

Foundation.

emphasise more on sustainable community development programs, as it seeks to strike a balance

In the efforts to improve the welfare of communities,

in its triple bottom line results, namely economic

Bank Bukopin combines efforts to empower local

growth, social welfare and natural preservation.

economies through the provision of seed capital, with incidental aids, such as those provided to victims of

Throughout 2008, Bank Bukopin spent more than

natural disasters, and donations to orphanages. In

Rp2.0 billion for various CSR activities carried out by

2008, for example, Bank Bukopin gave its donations to

the Bank across the country.

orphanages in Jakarta, Mataram, Purwokerto, Kupang and Tasikmalaya. At the same time, Bank Bukopin also provided relief aids for those affected by natural disasters, including victims in Pare-Pare and flood victims in Semarang. In the areas of religion and arts, Bank Bukopin participated in the construction of places of worships in Bandung, Makassar, Mataram, Pare-pare, Tasikmalaya and Yogyakarta; donated sacrificial cows and lambs for the Idul Adha celebration, the Hindu Nyepi (solitude) ritual, and helped organise


Transparent & & Transparent Accessible Accessible 108 Bank Bukopin ANNUAL REPORT 2008

Transparency and accessibility are also hallmarks of the reputable, successful company. Bank Bukopin ascribes to these two values that are universal in both their spirit and application, and which are highly valued by stakeholders across the board. Disclosure of financial report and other material information to stakeholders are of the utmost importance to Bank Bukopin, and we make every efforts to make any or all non-strategicallyconfidential information accessible by the public, as well as to conduct our businesses in a fair and transparent manner.

Management’s Discussions and Analysis [110] Responsibility on the Financial Statements [124] Financial Statement [125]


Management’s Discussions and Analysis OVERVIEW

The following discussions are based on the consolidated financial statements of PT Bank Bukopin Tbk and its

Bank Bukopin and its subsidiaries are financial

subsidiaries for the years ending 31 December 2008,

institutions that are engaged in banking and consumer

2007 and 2006. As such, for a comprehensive review,

finance. On 31 March 2008, the Bank increased its

refer to the financial statements of PT Bank Bukopin Tbk

holding in PT Bank Syariah Bukopin (formerly PT Bank

and its subsidiaries that have been audited by the Public

Persyarikatan Indonesia) such that its stake rose to

Accounting Firm of Purwantono, Sarwoko & Sandjaja

65.44% and since then the financial statements of

(a member firm of Ernst & Young Global) for the year

PT Bank Syariah Bukopin has been consolidated in the

ending 31 December 2008 and 2006; and the Public

consolidated financial statements of the Bank.

Accounting Firm of Haryanto Sahari & Associates (a member of PriceWaterhouseCoopers) for the year

The results of operations and financial condition of

ending 31 December 2007; all of which have received

the Bank for the year ending and on 31 December 2008

unqualified opinions from the auditors.

showed an encouraging achievement in the midst of a global financial crisis that affected global economy. Various global financial phenomena in 2008 also

PROFIT AND LOSS

effected the national banking sector. In the face of a

Net Income

considerable crisis, albeit supported by the tireless

During the year 2008, Bank Bukopin posted a profit

efforts of the Management and employees of Bank

before tax of Rp551 billion, and increase of 1% from

Bukopin, the Bank was still able to maintain its

Rp543 billion in 2007. The increase was primarily due

financial condition, as reflected in its consolidated

to the increases in interest income and Sharia revenue

financial statements. An increase in the net interest

to an amount of Rp180 billion, or 14%, and other

margin as well as level of efficiency represent one

operating income of Rp43 billion, or 16%, from those

of the bank’s achievements amid the challenging

of the previous years.

conditions. The relatively stable net interest income and net sharia revenue, as well as other operating income, were able to compensate for the increases in assets provisioning expense and other operating expenses. With a corporate income tax of Rp182 billion during the year, Bank Bukopin netted a net income of Rp369 billion, a decrease of 2% from Rp375 billion in 2007.


Table 1. Profit and Loss in 2008, 2007 and 2006

Interest and Sharia Income

(in billion Rupiah, except for the percentage)

Interest and Sharia income, including provisionary fees

Items

2008

2007

Change in 2007 – 2008

2006

Amount Interest and Sharia Income Interest and Sharia Expenses

3,372

3,212

%

in 2008, an increase of Rp160 billion, or 5%, from Rp3,212 billion in 2007. The largest contributor to both interest and Sharia income was attributed to the

3,069

160

5%

(1,904) (1,924) (1,842)

(20)

-1%

Rp558 billion, or 27%, from Rp2,084 billion in 2007 in the volume of credit and sharia financing. While

Net Interest and Sharia Income

1,468

1,288

1,227

180

14%

Other Operating Income

309

266

170

43

16%

growth of loan interest income and sharia margin of to Rp2,642 billion in 2008 as a result of the growth on the other hand, interest income from marketable securities and investment in the money markets declined by Rp376 billion, or 51%, and Rp32 billion,

Provision for Possible Losses on Earning Assets - net

(85)

(33)

(145)

(52)

158%

Provision for Reversal of Estimated Losses on commitment and contingencies - net

1

(1)

(19)

2

200%

Provision for Possible Losses on Non Earning Assets - net

(4)

or 19%, respectively, as a result of their volumes. The growth of loan interest income and sharia financing margin was mainly attributed to a Rp3,894 billion, or 20%, increase in the volume of credit and sharia

(11)

-

7

-64%

financing. Both interest income and margin income from sharia financing contributed to 78% of total interest and margin income of the Bank.

Gain (loss) from Increase (decrease) in Market Value of Trading Securities - net Other Operating Expenses

and credit commissions, amounted to Rp3,372 billion

(18)

5

9

(23)

-460%

Interest and Sharia Expenses Interest and sharia expenses decreased by Rp20 billion,

(1,118)

(986)

(812)

(132)

13%

553

528

430

25

5%

Non operating Income (expense)

(2)

15

30

(17)

-113%

Income before Tax

551

543

460

8

1%

Corporate Income Tax - net

(182)

(168)

(144)

(14)

8%

Minority Interest

-

-

-

Pre-acquisition Income of a Subsidiary

-

-

-

369

375

315

Income from Operations

Net Income *) Less than Rp500 million

or 1%, from Rp1,924 billion in 2007 to Rp1,904 billion in 2008. This decrease was mainly attributed to the decline in interest expenses of demand deposits by as much as Rp89 billion, or 34%, as a result of the decline in the balance of the demand deposits by Rp3,073 billion; and interest expenses on issued securities by Rp29 billion, or 42%, as a result of the maturity of the issued securities on 10 July 2008. While on the other hand, there were increases in the interest expenses on savings, time deposits and placement from other banks of Rp35 billion, or 44%; Rp23 billion, or 2%; and Rp26 billion, or 40%, respectively, in line with

(6)

-2%

the growth in total savings of Rp1,151 billion, time deposits of Rp151 billion and placement from other banks of Rp266 billion.




As a result of the increase in interest and Sharia

Other operating income in 2008 increased by

income of Rp160 billion, or 5%, and the decline in the

Rp43 billion, or 16%, from Rp266 billion in 2007 to

interest and sharia financing expenses of Rp20 billion,

Rp309 billion in 2008. The increase was primarily

or 1%, the net interest and sharia financing income

attributed to an increase in non-credit provisioning

increased by Rp180 billion, or 14%, from that of the

fee and commission of Rp41 billion, or 105%,

previous year. With an achievement of net interest

from those of the previous year. Provisioning fees

income of Rp1,468 billion, the net interest margin

and commissions contributed most, especially

of the Bank was 4.80%, an increase by 0.51% from

commissions earned on trade finance, micro business

4.29% in 2007.

and investment banking. In addition, in 2008 an increase was also posted on fee-based income by Rp12 billion, or 24%, which was primarily derived

Table 2. Interest and Sharia Income, and Interest and

from the increase in fee-based income from public

Sharia Expenses in 2008, 2007 and 2006

service that has recently been the focus of the bank’s


Items

2008

2007

business. While revenues from other operations

Change in 2007 – 2008

2006

Amount

contributed revenues of Rp44 billion, mainly derived from the earnings of the treasury and credit card

%

businesses.

Interest and Sharia Income Loans

2,553

2,020

2,029

533

26

Securities

358

734

740

(376)

(51)

Money Market Placements

137

169

82

(32)

(19)

23

7

6

16

229

Current Account with Bank Indonesia

12

27

29

(15)

(56)

Current Account with Other Banks

1

1

2

-

-

Time Deposits

-

2

5

(2)

(100)

Sharia Income Fee and Commissions Total Interest and Sharia Income

-

-

-

-

-

89

64

53

25

39

199

188

123

11

6

3,372

3,212

3,069

160

5

Interest and Sharia Expenses Demand Deposits Saving Deposits

2006 (in billion Rupiah, except for the percentage)

Securities Purchased with Agreement to Resell

Other Receivables

Table 3. Other Operating Income in 2008, 2007 and

169

258

215

(89)

(34)

Items

2008

2007

2006

Change in 2007 – 2008 Amount


%

309

266

171

43

16

Other Provision and Commission

80

39

27

41

105

Gains (loss) from Currency Exchange

18

27

15

(9)

(33)

Fee Income

61

49

37

12

24

Administration Fee

55

49

40

6

12

Fines

22

15

15

7

47

114

79

62

35

44

1,368

1,345

1,295

23

2

Fund Borrowings

80

72

88

8

11

Gains from Sale of BI Certificate

16

74

29

(58)

(78)

Deposits from Other Banks

90

64

77

26

41

Others

57

13

8

44

338

Securities Issued

40

69

74

(29)

(42)

Securities Sold with Agreement to Repurchase

12

8

2

4

50

Sharia Expense

Time Deposits

31

29

29

2

7

Total Interest and Sharia Expenses

1,904

1,924

1,842

(20)

(1)


1,468

1,288

1,227

180

14

Net Interest Margin (%)

4.80

4.29

5.18

0.51

*) Less than Rp500 million


Other Operating Expenses In 2008 other operating expenses increased by Rp197 billion, or 19%, from Rp1,027 billion in 2007

Table 4. Other Operating Expenses in 2008, 2007 and 2006 (in billion Rupiah, except for the percentage)

to Rp1,224 billion in 2008. The strategy of network expansion by the Bank resulted in the increase of

Items

2008

2007

Change in 2007 - 2008

2006

other operating expenses by Rp132 billion, or 13%, mainly resulting from the increase in general and administrative expenses by Rp81 billion, or 16%, and personnel expenses by Rp47 billion, or 11%, due to the increase in the number of personnel by 167 people, and an increase in personnel welfare. Meanwhile, the decline in capital market activities in the fourth quarter of 2008, which resulted in the decline of the value of the marketable securities held by the Bank, contributed to an increase in expense of Rp23 billion, or 460%. With an economic condition that has yet to recover, as a result of the global financial crisis, this has a profound influence on the businesses of debtors. This in turn affected Bank Bukopin to the extent that in 2008, the Bank had to increase its loan loss provisioning expense by as much as Rp52 billion, or 158%. The increase in loan loss provisioning expense was also the result of the increase in earning assets which grew by 3% and the decrease in the quality of these earning assets.

Amount Operating Expense

%

(1,224)

(1,027)

(967)

(197)

19%

(85)

(33)

(145)

(52)

158%

Provision for Reversal of estimated Losses on commitment and contingencies - net

1

(2)

(19)

3

(150%)

Provision for Possible on Non Earning Assets - net

(4)

(11)

-

7

(64%)

Gain (loss) from Increase (decrease) in Market Value of Trading Securities - net

(18)

5

9

(23)

(460%)

(1,118)

(986)

(812)

(132)

13%

~ General and Administration Expense

(592)

(511)

(434)

(81)

16%

~ Employees Salaries and Benefits

(465)

(418)

(341)

(47)

11%

~ Premium for Government Guarantee Program

(61)

(57)

(37)

(4)

7%

Provision for Possible on Earning Assets - net

Other Operating Expenses

Allowance for Possible Losses on Earning Assets Bank Bukopin set aside an allowance for possible losses on earning assets by referring to 2 (two) regulations, one on conventional banking that is based on Bank Indonesia regulation No.7/2/PBI/2006 dated 20 January 2006 on the Assessment of Commercial Bank Assets Quality, which was amended by BI Regulation No.8/2/PBI/2007 dated 30 January 2007; and the other on sharia banking that is based on BI Regulation No.5/7/PBI/2004 dated 19 May 2004 concerning the Allowance for Possible Losses on Sharia Bank’s Earning Assets. Total allowance for possible losses on earning assets provided, was adequate for covering possible losses on earning receivables collection, as presented in Table 5.


Table 5. Allowance for Possible Losses on Earning Assets

In 2008 net allowance for possible losses on earning

in 2008, 2007 and 2006

assets amounted to Rp742 billion, an increase of Rp322 billion, or 77%, compared to Rp420 billion in


Items

2008

2007

2006

Amount Loans Ratio of allowance for possible losses to total loans (%)

641

347

274

294

2.78%

1.81%

1.87%

0.97%

66

38

25

28

2.80%

5

0.78%

outstanding, which also became part of the recognised the increase in the possible loan loss provisioning was

1.82%

5

5

-

0.07%

0.05%

0.04%

1

1

1

-

-

assets, at a time when the quality of these assets which affected the businesses of debtors.

-

Non-Operating Income (Expense) - Net Non-operating income (expense) - net is the net

0.74%

1.28%

1.52%

-0.54%

*

*

*

-

difference between the Bank’s non-operating income and non-operating expense. In 2008, the Bank posted a net non-operating expense of Rp2 billion, a decrease -

of 113% compared to the net non-operating income of Rp15 billion that was posted in 2007. This was due

1.00%

1.52%

0.98%

(0.52%)

1

1

1

-

56.68%

3.08%

2.86%

53.60%

to the fact that in 2007, the Bank had posted a reversal of accrued litigation expenses that had been won by -

Bank Bukopin. Moreover, the Bank’s non-operating expense increased as a result of the installment payment in regards to the tax objection on VAT over the sharia murabahah transaction and an improper

28

28

27

-

-

income tax that was imposed on a tax object, as stated in Note 20 of the Consolidated Financial Statements of PT Bank Bukopin Tbk and its Subsidiaries.

0.17%

0.36%

0.53%

-0.19%

Balance Sheet In 2008. the Bank’s management policies on assets

Total year-end balance of provisioning expense, commitments and contingencies Ratio of provisioning expense to total earning assets (%)

0.98%

0.11%

Commitment & Contingencies Ratio of allowance for possible losses to total commitments and contingencies (%)

74%

slightly declined due to the global financial crisis

Investment Ratio of allowance for possible losses to total investment (%)

eliminated, such that the Bank had to form a 100%

also the result of an increase in the amount of earning

Derivative Receivables Ratio of allowance for possible losses to total derivative receivables (%)

Syariah Bukopin amounting to Rp298 billion, and at

goodwill at the time of the acquisition. In addition,

Acceptance Receivables Ratio of allowance for possible losses to total acceptance receivables (%)

by the Bank to acquire the credit portfolio of Bank

85%

provisioning to fully reflect the fair value of the credit

Securities Ratio of allowance for possible losses to total securities (%)

on earning assets was mainly due to the decision

%

the time of its consolidation, the cash collaterals were

Placement with other Banks**) Ratio of allowance for possible losses to total placement with other banks (%)

2007. The increase of allowance for possible losses

Change in 2007 – 2008

742

420

333

322

77%

and liabilities continued to place an emphasis on the expansion of low risk-bearing earning assets, combined with the generation of low-cost retail funding.

2.21%

1.29%

1.14%

*) Less than Rp500 million **) Include Demand Deposits from other banks


0.92%

In managing its operations, the Bank has been consistent in being responsive to market conditions,

Acceptance receivables

and to the needs of its liquidity and profitability, as

Investment

well as risk management in such a way that Bank

Deferred tax assets

manages its assets and liabilities by maintaining a balanced structured on its assets, liabilities and interest

135

78

66

57

73

1

37

40

(36)

(97)

75

19

10

56

295

rates.

Allowance for possible losses on earning assets

(714)

(392)

(306)

(322)

82

Total Assets

Fixed assets - net

408

322

269

86

27

Total assets in 2008 decreased by 5% from

Other assets

802

501

366

301

60

32,633

34,446

31,556

(1,813)

(5)

Deposits from third parties

27,521

29,292

24,885

(1,771)

(6)

Deposits from other banks

1,127

861

914

266

31

135

78

66

57

73

Securities issued

-

575

585

(575)

(100)

Fund borrowings

923

896

852

27

3

Estimate losses on commitments & contingencies

28

28

27

-

-

-

-

495

-

Tax payable

104

59

86

45

76

Liabilities immediately payable

178

208

1,589

(30)

(14)

Other liabilities

449

479

384

(30)

(6)

5

5

5

-

-

2,163

1,965

1,668

198

10

32,633

34,446

31,556

(1,813)

(5)

Rp34,446 billion in 2007 to Rp32,633 billion in 2008, mainly due to the decline in third-party deposits by

Rp1,771 billion, or 6%, as presented in table 6.

Liabilities and Equities

Table 6. Balance Sheets in 2008, 2007 and 2006 (in billions of Rupiah, except for percentages)

Items

2008

2007

Change in 2007 – 2008

2006

Amount

% Acceptance Payables

Assets Cash Demand deposits at Bank Indonesia Demand deposits at other banks

683

422

276

261

62

1,200

3,687

2,422

(2,487)

(67)

772

Placement at Bank Indonesia & other banks

1,582

Securities

4,523

Securities purchased with agreement to resell Derivative receivables Loans

Total Assets

74

3,795

6,721

54

3,147

10,501

698

(2,213)

(2,198)

943

(58)

(33)

111

33

26

78

236

13

1

2

12

1,200

23,042

19,148

14,683

3,894

20

Securities sold with agreement to repurchase

Minority interest Equity Total liabilities and stockholders’ equity


Assets

Derivatives Receivables In 2008 the Bank had derivatives receivables on the

Placement at Bank Indonesia and Other Banks

purchase of a foreign-currency swap and forward

Placement at Bank Indonesia and other banks in 2008

contracts amounting to Rp13 billion, an increase of

amounted to Rp1,582 billion, a decrease of 58%

Rp12 billion compared to Rp2 billion in 2007.

compared to Rp3,795 billion in 2007. The decrease was mainly due to the decline in inter-bank call money

Sharia Credit and Financing Outstanding

of Rp2,660 billion, or 71%, whereas the placement at

In 2008, the amount of sharia credit and financing

Bank Indonesia increased by Rp477 billion, or 745%.

reached Rp23,042 billion, an increase of

The decline was also related to the opportunity for the

Rp3,894 billion, or 20%, from Rp19,148 billion

Bank to derive greater yields from other earning assets.

in 2007. This increase was mainly derive from the disbursement growth of working capital credit

Marketable Securities

amounting to Rp1,551 billion, or 13%, investment

In 2008, the Bank’s portfolio of marketable securities

credit of Rp1,348 billion, or 31%, consumer credit of

comprised of the Bank Indonesia Certificate (SBI),

Rp267 billion, or 15%, and other credit of

BI Wadiah Certificate (SWBI), corporate bonds,

Rp728 billion, or 71%.

government bonds, treasury bills (ORI) and domestic and export letters of credits. The total value of these

Bank always considers the diversification of loan

marketable securities amounted to Rp4,523 billion,

based on economic sector under the prudential

a decrease of 33% compared to Rp6,721 billion in

banking principles as an effort to minimize the risk of

2007, mainly resulting from the decline in SBI and

loan recovery that influences the loan quality. The loan

SWBI totalling Rp2,589 billion.

portion to trading sectors, business services sectors, construction and agriculture sector in 2008 were 37%,

Securities Purchased with Agreement to Resell

18%, 16% and 6%.

In 2008, Bank Bukopin entered into a marketable

In 2008, loans and sharia financing to micro, small,

securities transaction in which the bank purchases

medium enterprise and cooperative (MSMEC) and

certain securities with the agreement to resell

credit related to MSMEC which remained the main

them at future dates. These securities amounted to

focus of the Bank’s lending activities, accounted for

Rp111 billion of government bonds, an increase of

59% of total credit outstanding, whereas commercial

Rp78 billion compared to the 2007 amount of

credit and consumer credit accounted for 33% and

Rp33 billion. The increase was mainly due to the

9%, respectively, of total loans.

potential gains that can be derived through the difference in the value of these securities.


In 2008, the ratio of non-performing loans (Bank only)

was 4.87%, an increase of 1.30% from 3.57% in

Acceptance Receivables

2007, primarily attributed to the economic crisis that

In 2008, total acceptance receivables amounted to

affected the businesses of debtors. Nevertheless, this

Rp135 billion, an increase of Rp57 billion, or 73%,

has been anticipated by Bank Bukopin that took the

compared to Rp78 billion in 2007, due to the increase

following mitigating measures:

in the volume of trade finance transactions.

•

Undertake close monitoring and mentoring on

Investments

existing debtors in economic sectors that had

Total investments (Bank only) in 2008 amounted to

been identified as being potentially at risk to non-

Rp154 billion, an increase of Rp97 billion, or 170%,

performing loans and thereby to the Bank’s CAR,

compared to Rp57 billion in 2007. This increase was

and worked towards maintaining the quality of

mainly derived from the increase in the Bank’s equity

credits.

participation in PT Bank Syariah Bukopin (formerly

Undertake credit restructuring efforts on debtors

PT Bank Persyarikatan Indonesia) of Rp100 billion

that are potentially defaulting.

that was executed on 31 March 2008. Bank Bukopin

Undertake reviews of debtor’s collaterals in

also held stakes in PT Bukopin Finance (PT Indo Trans

order to maximise the value of these collaterals

Buana Multi Finance) of 80% and in PT Bank Syariah

as factors that can reduce the amount of loss

Bukopin of 65.44%.

• •

provisioning.

Earning Assets Table 7. Growth of Credit and Sharia Financing in Terms of Quality in 2008, 2007 and 2006 (Bank only) (in billion Rupiah, except for the percentage) Description

2008

2007

Total earning assets (Bank only) including Letters of Credits and Bank Guarantees grew by Rp1,108 billion, or 3%, from Rp32,481 billion

Change in 2007 – 2008

2006

Amount

%

Total credit

22,856

19,138 14,684

3,718

19%

Current

20,865

18,013 13,506

2,852

16%

in 2007 to Rp33,589 billion in 2008. The ratio of non-performing loan assets to total earning assets in 2008 was 3.08%, an increase 1.68% compared to 2.12% in 2008, primarily attributed to the increase of non-performing loans and the decline in the

Special Mention

878

442

632

436

99%

Sub standard

338

72

44

266

369%

68

54

78

14

26%

Bukopin has resolved the matter through restructuring,

707

557

424

150

27%

rescheduling, reconditioning, litigating, and collecting

1.113

683

546

430

63%

on non-performing earning assets.

4.87%

3.57%

3.72%

1.30%

Doubtful Loss Total NPL Ratio NPL - Gross

quality of placements with other banks. Despite the increase in the amount of earning assets, Bank

Liabilities In complying with the Legal Lending Limit

In 2008, total liabilities amounted to Rp30,465 billion,

requirement, Bank Bukopin did not exceed such limit

a decrease of Rp2,011 billion, or 6%, from

in the disbursement of its loans.

Rp32,476 billion in 2007. The decrease in total liabilities was mainly due to the decrease in the amount of customer savings amounting to Rp1,771 billion, or 6%, as well as the maturity of certain marketable securities amounting to Rp575 billion on 10 July 2008.


Third Party Deposits

In 2008, time deposits amounted to Rp17,621 billion, an

In 2008, third party deposits amounted to

increase of Rp151 billion, or 1%, from Rp17,470 billion

Rp27,521 billion, a decrease of Rp1,771 billion, or

in 2007. The increase proved that deposit products of

6%, compared to Rp29,292 billion in 2007.

Bank Bukopin are competitive and possess features that

The decrease was due to the tight market liquidity as a

are in line with market demand.

result of the global economic crisis that began in mid 2008, inducing banks to restrain the pace of credit

In 2008, the composition of third party funds was still

growth. The effects of the global crisis caused many

dominated by deposit accounts. This condition was

corporate customers to rely on internally generated

exacerbated by the tight financial liquidity in which

cash flows to finance their business growth.

deposits became a primary tool for banks to generate third party funds.

Demand deposits in 2008 amounted to Rp5,776 billion, a decrease of Rp3,073 billion, or 35%, compared to

Along with the recovery of the economy, Bank

Rp8,849 billion in 2007.

Bukopin intends to shift its composition of third party funds from high-cost time deposits to the more costeffective demand deposits and savings.

The generation of retail funds increased rapidly as reflected by the achievement of savings that amounted to Rp4,124 billion, an increase of Rp1,151 billion, or 39%, from Rp2,973 billion in 2007. This achievement was the fruits of the broad range of savings products that Bank Bukopin has in the market today, in line with market demand. It was also the result of strategic marketing efforts, in addition to the support of e-channel banking services that comprise of full-feature ATM network that is linked to more than 20,000 other ATMs, SMS banking and Internet banking that greatly increases the convenience of banking with Bank Bukopin. Table 8. Third Party Deposits by Type in 2008, 2007 and 2006 (in billion Rupiah, except for the percentage) 2008 Items Balance

2007

Composition (%)

Balance

2006

Composition (%)

Balance

Changes 2007– 2008

Composition (%)

Total

%

Deposits Demand Deposits

5,776

21

8,849

30

8,295

33

(3,073)

(35)

Saving Deposits

4,124

15

2,973

10

2,002

8

1,151

39

Time Deposits

17,621

64

17,470

60

14,588

59

151

1

Total Deposits

27,521

100

29,292

100

24,885

100

(1,771)

(6)


Table 9. Total Deposits based on Tenor in 2008, 2007 and 2006 (in billion Rupiah, except for the percentage) 2008

2007

2006

Changes 2007– 2008

Items Composition (%)

Balance Deposits

Balance

Composition (%)

Balance

Composition (%)

Total

%

1 month

22,330

81

22,872

78

18,217

73.20

(542)

(2)

3 months

2,099

8

1,860

6

1,683

6.76

239

13

6 months

1,056

4

1,265

4

950

3.82

(209)

(17)

12 months

2,036

7

3,295

11

4,035

16.22

(1,259)

(38)

27,521

100

29,292

100

24,885

100.00

(1,771)

(6)

Total Deposits

The composition of third-party funds in terms of tenor

Borrowings

in 2008 was dominated by short-term deposits.

Fund borrowings by Bank Bukopin in 2008 comprised

A review of several core customer deposits showed

of borrowings from Bank Indonesia, the management

that in general these short-term deposits are

of which was transferred to PT Permodalan Nasional

automatically renewable, and the customers have

Madani and PT Bank Tabungan Negara, borrowings

been identified as loyal customers such that they do

from the Government of the Republic of Indonesia,

not pose a threat to the liquidity of Bank Bukopin.

International Economic Corporation Development Fund (IECDF) and Nova Scotia Singapore. These

Placement from Other Banks

borrowings were rechanneled into loans to customers

In 2008, placement from other banks amounted to

in accordance with the scheme of the respective loans.

Rp1,127 billion, an increase of Rp266 billion, or 31%,

Total borrowings in 2008 amounted to Rp923 billion,

from Rp861 billion in 2007. The increase was mostly

an increase of Rp27 billion, or 3%, from Rp896 billion

due to an increase in interbank call money, whereas

in 2007, primarily from Nova Scotia Singapore of

demand and time deposits from other banks declined

Rp38 billion and PT Permodalan Nasional Madani of

in amount.

Rp30 billion, as well as the maturity of the borrowing from DBS Bank Ltd of Singapore amounting to Rp33 billion.


Securities Issued

Table 10. Financial Ratios for 2008, 2007 and 2006 (Bank only, without subsidiaries )

On 10 July 2004, Bank Bukopin issued bonds amounting to Rp600 billion consisting of Series A Bonds of Rp319 billion, Series B Bonds of Rp236 billion, and Sharia Mudharabah Bonds amounting to Rp45 billion. All of these bonds have matured and been redeemed by Bank Bukopin on 10 July 2008 in the amount of Rp575 billion, following an earlier redemption of Rp25 billion of these bonds by the Bank.

Commitments and Contingencies In 2008, commitments and contingencies amounted to Rp3,294 billion, an increase of Rp711 billion or 28% from Rp2,583 billion in 2007. The increase was mostly due to the increase in liability commitments for L/C in the amount of Rp603 billion, and for BG in the amount of Rp108 billion.

Financial Ratio Equity Capital Adequacy Ratio for credit and market risk Composition of equity (core capital/ supplementary capital)

2008

2007

2006

11.20%

12.84%

15.79%

933.73%

748.89%

667.60%

3.80%

2.12%

1.98%

107.70%

101.83%

100.50%

Earning Assets Quality Ratio of classified earning assets to total earning assets Ratio of the sufficiency of allowance for possible losses Profitability

FINANCIAL RATIOS

Ratio of income before tax to average of total assets (ROA)

1.66%

1.63%

1.85%

Bank Indonesia has issued Regulation on the

Ratio of net income to average of core capital (ROE)

18.80%

22.34%

22.14%

Net Interest Margin (NIM)

4.80%

4.29%

5.18%

84.45%

84.84%

87.17%

83.60%

65.26%

58.86%

0.74%

0.31%

0.62%

5.07%

14.40%

10.50%

Assessment of the Level of Soundness of a Commercial Bank as stipulated in the Bank Indonesia Regulation No.6/10/PBI/2005 dated 12 April 2005, together with its corresponding rules of engagements that are contained in the Bank Indonesia Circular No. 6/23/DPNP dated 31 May 2005, with the aim of assessing the performance of a bank. The following table presents the financial ratios of Bank Bukopin (Bank only) that give an indication of the level of soundness of the Bank and its financial performance.

Ratio of operating expenses to operating income (BOPO) Liquidity Loan to Deposits Ratio (LDR) Net Open Position (NOP) Ratio of net open position to equity Minimum Legal Reserves Requirement Ratio of Statutory Reserves

Equity In 2008, the Capital Adequacy Ratio (CAR) of the Bank for credit and market risk was 11.20%, decreased 1.64% compared to 12.84% in 2007.


The CAR decrease in 2008 was due to the increase

RWA for Credit Risk after considering specific risk

of RWA by Rp2,757 billion or 18% as the impact of business volume that was higher than the increase of

17,870

15,040

10,512

2,830

19%

equity for credit and market risks by Rp62 billion or

RWA for Market Risk

16

89

96

(73)

-82%

3%. The calculation of Capital Adequacy Ratio (CAR)

Total RWA for Credit and Market Risks

17,886

15,128

10,608

2,758

18%

CAR for Credit Risk

11.21% 12.91% 15.93%

-1.70%

-13%

CAR for Credit and Market Risks

11.20% 12.84% 15.79%

-1.64%

-13%

is presented on Table 11. Table 11. Capital Adequacy Ratio (CAR) in 2008, 2007 and 2006 (in billion Rupiah, except for the percentage)

Items

2008

2007

2006

Changes 2007 – 200 Amount

*) Presented without including the effect of deferred tax assets pursuant to BI Regulation No. 3/21/PBI/2001 of 13 December 2001.

%

Core Capital

Bank Bukopin constantly maintains its CAR by

Issued and fully paid-up capital

783

782

774

1

0%

continuously adhering to prudential banking practices

Additional paid-in capital

218

218

185

-

0%

providing adequate allowance for possible losses

28

12

6

16

133%

General and appropiated reserves *)

746

568

395

178

31%

Current profit after tax (50%) *)

173

183

149

(10)

-5%

Total Core Capital

1,948

1,763

1,509

185

10%

Stock options

in the expansion of its earning assets, while also on earning assets based on their quality and in accordance with prevailing rules in order to mitigate the associated risks.

Earning Assets Quality The ratio of non-performing earning assets to total earning assets in 2008 (Bank only) was 3.80%, an

Supplementary Capital

increase of 1.68% compared to 2.12% in 2007.

General reserve on allowance for possible losses on earning assets (maximum 1,25% of RWA)

non-performing assets, mainly credit and financing, 209

Subordinated bonds

-

47

94

209

235

2,158

The increase was primarily due to the increase in

188

132

21

11%

and placement in other banks. However, the Bank is confident that these earning assets can be resolved through workouts and restructuring in accordance

(47) -100%

with prevailing regulations.

226

(26)

-11%

Profitability

1,998

1,735

160

8%

154

57

60

97

170%

Total Capital for Credit Risk

2,004

1,942

1,675

62

3%

Total Capital for Credit and Market Risks

2,004

1,942

1,675

62

3%

Total Supplementary Capital Total core capital and supplementary capital Less : Investment

Pre-tax Return on Assets (ROA) in 2008 was 1.66%, an increase of 0.03% from 1.63% in 2007, resulting from the increase of profit before tax by Rp10 billion, or 2%, while average total assets declined by Rp38 billion.


Net Interest Margin (NIM) in 2008 reached 4.80%, an

Statutory Reserves

increase of 0.51% from 4.29% in 2007, resulting from

Statutory reserves in Rupiah amounted to 5.07% in

the increase in net interest income of Rp172 billion, or

2008, a decrease of 9.33% from 14.40% in 2007,

13% higher than the growth of average earning assets

resulting from the decline in the Bank’s giro placement

volume of 1%.

with Bank Indonesia by Rp2,487 billion, or 67%, from Rp3,687 billion in 2007 to Rp1,200 billion in

The efficiency ratio of operating expense to operating

2008. This decline was due to the amendment in the

income in 2008 was 84.45%, a decrease of 0.39%

statutory reserves requirement, which previously had

from 84,84% in 2007. The decline was due to the

accounted for the total amount of third party deposits

increase in operating income by Rp173 billion, or

and the level of LDR, pursuant to Bank Indonesia

5%, higher than the growth of operating expense of

regulation No.10/19/PBI/2008 on Statutory Reserves of

Rp132 billion, or 4%; in addition to a more effective

a Commercial Bank with BI in Rupiah and

management of operating expenses.

Foreign Currency, as amended to BI Regulation

Liquidity

No.10/25/PBI/2008.

Loan to Deposit Ratio (LDR) in 2008 reached 83.60%,

Compliance

an increase of 18.34% from 65.26% in 2007, resulting

Throughout the year 2008, Bank Bukopin had

from the higher percentage growth of credit, which

complied with all banking regulations of Bank

grew by 19%, whereas third party funding declined by

Indonesia.

6%.

Net open Position

Operating Results and Financial Condition of the Sharia Business Unit

Bank Bukopin constantly manages its Net Open

Pursuant to Bank Indonesia Circulation Letter

Position (NOP) carefully pursuant to the regulation of

No. 7/56/DPbS dated 9 December 2006, in complying

Bank Indonesia. The NOP ratio in 2008 was 0.74%, an

with the information disclosure requirement for a Bank

increase of 0.43% compared to 0.31% in 2007. The

that operates a Sharia business unit, the following

increase was due to the rise in the Bank’s equity by

table presents the progress of the sharia business unit

Rp62 billion, or 3%; lower than the percentage growth

of Bank Bukopin.

of NOP volume by Rp9 billion, or 145%.


Table 12. Growth of Sharia Business Unit in 2008, 2007

that of 2007, primarily due to the increase in customer


Items

2008

2007

2006

Change in 2007 – 2008 Amount

%

savings by Rp242 billion, or 68%. Total receivables from sharia financing in 2008 reached Rp735 billion an increase of Rp277 billion, or 60%, compared to those of 2007, with the highest portion of which was

Operating result and financial condition

the murabahah receivables. Profit before tax for 2008

Total assets

849

640

587

209

33%

Sharia Financing and Receivables *)

735

458

363

277

60%

• Murabahah Receivables

593

368

300

225

61%

• Musyarakah Receivables

74

21

2

53

252%

• Mudharabah Financing

67

69

61

(2)

(3%)

1

-

1

1

Third party deposits

599

357

338

242

68%

• Demand Deposits

83

91

118

(8)

-9%

• Saving Deposits

91

64

33

27

42%

• Time Deposits

425

203

187

222

109%

Margin, revenue sharing and bonus income

88

64

53

24

38%

Revenue sharing distribution to unrestricted investors

28

27

28

1

4%

Profit (Loss) before Tax

17

8

(2)

9

113%

1.66% 2.44%

1.49%

-0.78%

-32%

• Qardh

The total assets of the Sharia Business Unit in 2008 amounted to Rp849 billion, an increase of 33% from

and 2006

was Rp17 billion, an increase of 113% compared to that of 2007, which amounted to Rp8 billion, due to the relatively stable net sharia income and other operating income, which were the main factors behind the growth of profit before tax.

Financial Ratio Non Performing Financing (NPF)


Responsibility on the Financial Statements This Annual Report, including the financial statements and other related information, represents the responsibility of the Management of Bank Bukopin and has been approved by all members of the Board of Directors and the Board of Commissioners, by signing here below.

Board of Commissioners

Saean Achmady


Andi Chaeruddin Muhammad *)


Yoyok Sunaryo

Sutrisno Iwantono

Syamsul Effendi

Tri Joko Prihanto

Agus Hernawan

Sunaryono

Sulistyohadi DS


Mikrowa Kirana

Commissioner


Commissioner



*) Passed away on 15 March 2009

Board of Directors

Glen Glenardi

President Director

Director of Finance and Planning

Director of Small, Medium and Cooperative Business


Director of Services and Distribution


Director of Risk Management, Compliance and HR Development


Financial Statement

This page is intentionally left blank

126 Bank Bukopin LAPORAN TAHUNAN 2008

PT Bank Bukopin Tbk. dan anak-anak perusahaan/and subsidiaries Laporan keuangan konsolidasian beserta laporan auditor independen tahun yang berakhir pada tanggal-tanggal 31 Desember 2008 dan 2006 dengan angka perbandingan untuk 2007/

Consolidated financial statements with independent auditors’ report years ended December 31, 2008 and 2006 with comparative figures for 2007

Halaman ini sengaja dikosongkan


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

PT BANK BUKOPIN TBK. DAN ANAK-ANAK PERUSAHAAN NERACA KONSOLIDASIAN 31 Desember 2008 dan 2006 Dengan Angka Perbandingan Untuk 2007 (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain) Catatan/ Notes AKTIVA Kas

2d,3

Giro pada Bank Indonesia 2e,4 Giro pada bank lain, setelah dikurangi penyisihan kerugian sebesar Rp7.888 pada tahun 2008, Rp901 pada tahun 2007, dan Rp1.089 pada tahun 2006 - Pihak yang mempunyai hubungan istimewa 2a,5,38 - Pihak ketiga 2e,2n,5 Penempatan pada Bank Indonesia dan bank lain, setelah dikurangi penyisihan kerugian sebesar Rp58.262 pada tahun 2008, Rp37.349 pada tahun 2007 dan Rp23.987 pada tahun 2006 - Pihak yang mempunyai hubungan istimewa 2ad,38 - Pihak ketiga 2f,2n,6 Surat-surat berharga, setelah dikurangi penyisihan kerugian sebesar Rp5.204 pada tahun 2008, Rp5.164 pada tahun 2007 dan Rp4.672 pada tahun 2006 2g,2n,7 Surat-surat berharga yang dibeli dengan janji dijual kembali, setelah dikurangi bunga yang belum direalisasi pada tahun 2008 sebesar Rp93, Rp9 pada tahun 2007 dan Rp10 pada tahun 2006 2g,2n,8 Tagihan derivatif, setelah dikurangi penyisihan kerugian sebesar Rp133 pada tahun 2008, Rp17 pada tahun 2007 dan Rp19 pada tahun 2006 2i,2n,9 Kredit yang diberikan, setelah dikurangi penyisihan kerugian sebesar Rp640.665 pada tahun 2008, Rp346.576 pada tahun 2007, dan Rp274.392 pada tahun 2006 - Pihak yang mempunyai hubungan istimewa 2ad,10i,38 - Pihak ketiga 2j,2k,2l,2n,10 Tagihan akseptasi, setelah dikurangi penyisihan kerugian sebesar Rp1.168 pada tahun 2008, Rp642 pada tahun 2007, dan Rp656 pada tahun 2006 2m,2n,11 Penyertaan, setelah dikurangi penyisihan kerugian sebesar Rp539 pada tahun 2008, Rp1.130 pada tahun 2007, dan Rp1.156 pada tahun 2006 2o,2n,12

PT BANK BUKOPIN TBK. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS December 31, 2008 and 2006 With Comparative Figures For 2007 (Expressed in millions of Rupiah, unless otherwise stated)

2008

2007

2006

683.155

421.803

275.562

1.199.882

3.687.390

2.422.298

ASSETS Cash Current accounts with Bank Indonesia Current accounts with other banks, net of allowance for losses of Rp7,888 in 2008, Rp901 in 2007, and Rp1,089 in 2006

764.218

3.159 70.409

3.063 49.520

Related parties Third parties Placements with bank Indonesia and other banks, net of allowance for losses of Rp58,262 in 2008, Rp37,349 in 2007 and Rp23,987 in 2006

1.523.430

176.517 3.580.998

4.518.032

6.715.608

110.887

33.033

13.160

1.099

98.208 3.024.574

Related parties Third parties -

10.496.345

Marketable securities, net of allowance for losses of Rp5,204 in 2008, Rp5,164 in 2007 and Rp4,672 in 2006

25.947

Marketable securities purchased with agreements to resell, net of unearned interest of Rp93 in 2008 Rp9 in 2007 and Rp10 in 2006

1.925

Derivative receivables, net of allowance for losses of Rp133 in 2008, Rp17 in 2007 and Rp19 in 2006 Loans, net of allowance for losses of Rp640,665 in 2008, Rp346,576 in 2007 and Rp274,392 in 2006

30.000 22.371.357

5.428.371 13.372.971

133.702

77.188

412

35.510

Catatan atas laporan keuangan konsolidasian merupakan bagian yang tidak terpisahkan dari laporan keuangan konsolidasian secara keseluruhan.

4.731.719 9.676.876

Related parties Third parties -

64.905

Acceptance receivables, net of allowance for losses of Rp1,168 in 2008, Rp642 in 2007, and Rp656 in 2006

39.232

Investments, net of allowance for losses of Rp539 in 2008, Rp1,130 in 2007, and Rp1,156 in 2006

The accompanying notes form an integral part of these consolidated financal statements.

1


PT BANK BUKOPIN TBK. DAN ANAK-ANAK PERUSAHAAN NERACA KONSOLIDASIAN (lanjutan) 31 Desember 2008 dan 2006 Dengan Angka Perbandingan Untuk 2007 (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain) Catatan/ Notes Goodwill Aset tetap, setelah dikurangi akumulasi penyusutan sebesar Rp303.904 pada tahun 2008, Rp252.308 pada tahun 2007, dan Rp207.775 pada tahun 2006 Aktiva pajak tangguhan - bersih Aktiva lain-lain - bersih JUMLAH AKTIVA

1c

2p,13 2y,20 2n,2q,14

PT BANK BUKOPIN TBK. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (continued) December 31, 2008 and 2006 With Comparative Figures For 2007 (Expressed in millions of Rupiah, unless otherwise stated)

2008

2007

295.711

2006 668

859

407.528 75.046 506.543

321.991 18.873 500.589

268.882 10.155 366.073

32.633.063

34.446.177

31.556.143


Goodwill Fixed assets, net of accumulated depreciation of Rp303,904 in 2008, Rp252,308 in 2007, and Rp207,775 in 2006 Deferred tax assets - net Other assets - net TOTAL ASSETS


2


PT BANK BUKOPIN TBK. DAN ANAK-ANAK PERUSAHAAN NERACA KONSOLIDASIAN (lanjutan) 31 Desember 2008 dan 2006 Dengan Angka Perbandingan Untuk 2007 (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain) Catatan/ Notes

PT BANK BUKOPIN TBK. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (continued) December 31, 2008 and 2006 With Comparative Figures For 2007 (Expressed in millions of Rupiah, unless otherwise stated)

2008

2007

2006

KEWAJIBAN DAN EKUITAS KEWAJIBAN Kewajiban segera 2r, 15 Simpanan nasabah 2s,2t - Pihak yang mempunyai hubungan istimewa 2ad,38 - Pihak ketiga 16,17,18 Simpanan dari bank lain - Pihak yang mempunyai 2t hubungan istimewa 2ad,38 - Pihak ketiga 19 Surat-surat berharga yang dijual dengan janji dibeli kembali, setelah dikurangi bunga dibayar dimuka sebesar RpNihil pada tahun 2008 dan 2007 dan Rp350 pada tahun 2006 2h,21 Kewajiban derivatif 2i,9 Kewajiban akseptasi 2m,11 Surat-surat berharga yang diterbitkan, setelah dikurangi obligasi Seri A Bank Bukopin II Tahun 2003 dalam perbendaharaan sebesar RpNihil pada tahun 2008 Rp25.000 pada tahun 2007 dan Rp15.000 pada tahun 2006 2v,22 Pinjaman yang diterima 23 Hutang pajak 2y,20 Estimasi kerugian atas komitmen dan kontinjensi 2n,24 Kewajiban lain-lain 2aa,25 JUMLAH KEWAJIBAN HAK MINORITAS EKUITAS Modal saham Saham biasa kelas A - niIai nominal Rp10.000 (nilai penuh) Saham biasa kelas B - niIai nominal Rp100 (nilai penuh) Modal dasar Saham biasa kelas A - 21.337.978 saham pada tahun 2008, 2007, dan 2006 Saham Biasa kelas B - 22.866.202.200 saham pada tahun 2008, 2007 dan 2006 Modal ditempatkan dan dan disetor penuh Saham biasa kelas A 21.337.978 saham pada tahun 2008, 2007, dan 2006 Saham biasa kelas B - 5.692.521.050 saham pada tahun 2008, 5.691.000.050 saham pada tahun 2007, dan 5.603.765.550 saham pada tahun 2006 Tambahan modal disetor 26b Cadangan opsi saham 2ab,26b,27 Saldo laba Telah ditentukan penggunaannya 26c Belum ditentukan penggunaannya JUMLAH EKUITAS JUMLAH KEWAJIBAN DAN EKUITAS

LIABILITIES AND EQUITY 178.157

208.481

1.589.403

317.390 27.203.816

3.257.331 26.034.547

5.179.673 19.705.363

1.126.641

304.200 556.402

211.433 702.857

2.233 134.870

699 77.830

494.650 260 65.561

LIABILITIES Liabilities immediately payable Deposits from customers Related parties Third parties Deposits from other banks Related parties Third parties Marketable securities sold with agreement to repurchase, net of unamortized interest of RpNil in 2008 and 2007 and Rp350 in 2006 Derivative payables Acceptance payables

922.566 103.526

575.000 895.788 58.684

585.000 851.991 86.173

28.479 447.415

28.233 479.258

27.109 383.871

Marketable securities issued, net of bought-back Series A Bank Bukopin II 2003 Bonds of RpNil in 2008, Rp25,000 in 2007 and Rp15,000 in 2006 Borrowings Taxes payable Estimated losses on commitments and contingencies Other liabilities

30.465.093

32.476.453

29.883.344

TOTAL LIABILITIES

4.803

4.931

4.796

MINORITY INTEREST

SHAREHOLDERS’ EQUITY Share capital Common A share - Rp10,000 (full amount) par value Common B share - Rp100 (full amount) par value Authorized capital Common A shares - 21,337,978 shares in 2008, 2007, and 200 Common B shares - 22,866,202,200 shares in 2008, 2007, and 2006 Issued and fully paid-up capital Common A shares 21,337,978 shares in 2008, 2007, and 2006

782.633 218.410 28.206

782.479 217.832 11.781

765.138

577.575 368.780

375.126

2.163.167

1.964.793

32.633.063

34.446.177


Common B shares - 5,692,521,050 shares in 2008, 5,691,000,050 shares in 2007, 773.756 and 5,603,765,550 in 2006 184.694 Additional paid-in capital 5.892 Share options reserve Retained earnings 388.445 Appropriated 315.216 1.668.003 TOTAL SHAREHOLDERS’ EQUITY 31.556.143

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY


3

Unappropri


PT BANK BUKOPIN TBK. DAN ANAK-ANAK PERUSAHAAN LAPORAN LABA RUGI KONSOLIDASIAN Tahun yang Berakhir pada Tanggal-tanggal 31 Desember 2008 dan 2006 Dengan Angka Perbandingan Untuk 2007 (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain) Catatan/ Notes PENDAPATAN DAN BEBAN OPERASIONAL Pendapatan bunga dan Syariah Bunga Provisi dan komisi Pendapatan Syariah

2c,2w,28,38 2x,29 2w

Jumlah pendapatan bunga dan Syariah Beban bunga, Syariah, dan pembiayaan Iainnya Beban bunga dan pembiayaan Iainnya Beban Syariah

2c,2w,30,38 2v

Jumlah beban bunga, Syariah, dan pembiayaan lainnya Pendapatan bunga, Syariah, pembiayaan lainnya - bersih Pendapatan operasional lainnya Provisi dan komisi lainnya Laba selisih kurs - bersih Lain-lain

2x 2c 31

Jumlah pendapatan operasional lainnya Beban penyisihan kerugian aktiva produktif - bersih 2n,32 Beban estimasi kerugian komitmen dan kontinjensi - bersih 2n,24 Beban penyisihan kerugian aktiva non-produktif - bersih 2n (Kerugian) keuntungan dari (penurunan) kenaikan nilai surat-surat berharga yang diperdagangkan - bersih 2g Beban operasional lainnya Umum dan administrasi 33 Gaji dan tunjangan karyawan 2aa,2ab,34,37 Premi program penjaminan pemerintah 45 Jumlah beban operasional Iainnya LABA OPERASIONAL (BEBAN) PENDAPATAN NON-OPERASIONAL - BERSIH LABA SEBELUM PAJAK

PT BANK BUKOPIN TBK. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME Years Ended December 31, 2008 and 2006 With Comparative Figures For 2007 (Expressed in millions of Rupiah, unless otherwise stated)

2008

2007

3.084.410 198.700 88.720

2.960.196 187.701 63.982

INCOME AND EXPENSES FROM OPERATIONS Interest and Sharia incomes 2.892.843 Interests 123.034 Fees and commissions 52.866 Sharia incomes

3.371.830

3.211.879

3.068.743

Total interest and Sharia incomes

(1.872.705) (31.227)

(1.894.839) (29.181)

(1.813.233) (28.878)

Interest expenses, Sharia, and other financing charges Interest expenses and other financing charges Sharia charges

(1.903.932)

(1.924.020)

(1.842.111)

Total interest expenses, Sharia, and other financing charges

1.467.898

1.287.859

1.226.632

Interest, Sharia incomes, and other financing - net

80.189 17.602 211.602

39.387 27.409 199.447

26.586 15.136 128.184

Other operating incomes Other fees and commissions Gain on foreign exchange - net Others

309.393

266.243

169.906

Total other operating incomes

(85.212)

(33.001)

(144.554)

(1.522)

(19.175)

635 (3.516)

(11.066)

(18.222)

5.212

-

9.066

Allowance for losses on earnings assets - net Estimated losses on commitments and contingencies - net Allowance for losses on non-earning assets - net (Loss) gain from (decrease) increase in market value of trading marketable securities - net Other operating expenses General and administrative Salaries and employee benefits Premium on government guarantee program

(592.052) (464.688)

(510.504) (418.127)

(433.774) (341.169)

(61.453)

(56.973)

(36.805)

(1.118.193)

(985.604)

(811.748)

Total other operating expenses

528.121

430.127

INCOME FROM OPERATIONS

15.490

29.776

NON-OPERATING (EXPENSE) INCOME - NET

543.611

459.903

INCOME BEFORE TAX

552.783 35

2006

(1.946) 550.837



4


PT BANK BUKOPIN TBK. DAN ANAK-ANAK PERUSAHAAN LAPORAN LABA RUGI KONSOLIDASIAN (lanjutan) Tahun yang Berakhir pada Tanggal-tanggal 31 Desember 2008 dan 2006 Dengan Angka Perbandingan Untuk 2007 (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain) Catatan/ Notes

PT BANK BUKOPIN TBK. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME (continued) Years Ended December 31, 2008 and 2006 With Comparative Figures For 2007 (Expressed in millions of Rupiah, unless otherwise stated)

2008

2007

2006

BEBAN PAJAK PENGHASILAN BADAN Kini Tangguhan

(207.103) 25.108

(177.068) 8.718

(161.328) 16.931

CORPORATE INCOME TAX EXPENSES Current Deferred

Beban pajak pengasilan badan - bersih

(181.995)

(168.350)

(144.397)

Corporate income tax expenses - net

(62)

(135)

(142)

MINORITY INTERESTS

(148)

PRE-ACQUISITION INCOME OF A SUBSIDIARY

HAK MINORITAS LABA ANAK PERUSAHAAN SEBELUM AKUISISI

2b 2b

LABA BERSIH LABA BERSIH PER SAHAM Dasar (nilai penuh) Dilusian (nilai penuh)

-

-

368.780

375.126

315.216

NET INCOME

64,55 64,55

66,41 65,92

60,81 60,45

EARNINGS PER SHARE Basic (full amount) Diluted (full amount)

2z,47



5


PT BANK BUKOPIN TBK. DAN ANAK-ANAK PERUSAHAAN LAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN Tahun yang Berakhir pada Tanggal-tanggal 31 Desember 2008 dan 2006 Dengan Angka Perbandingan Untuk 2007 (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)

Catatan/ Notes Saldo pada tanggal 31 Desember 2005 Dividen kas Pembentukan cadangan umum

26c

26c

Modal ditempatkan dan disetor penuh/ Issued and fully paid-up capital

Tambahan modal disetor/ Additional paid-in capital

PT BANK BUKOPIN TBK. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY Years Ended December 31, 2008 and 2006 With Comparative Figures For 2007 (Expressed in millions of Rupiah, unless otherwise stated)

Saldo laba/Retained earnings Telah Belum ditentukan ditentukan penggunannya/ penggunannya/ Appropriated Unappropriated

Cadangan opsi saham/ Share option reserve

689.380

-

-

247.273

-

-

-

-

-

-

-

141.172

Jumlah ekuitas/ Total shareholders’ equity

256.675 (115.503)

(141.172)

1.193.328 (115.503)

Balance as at December 31, 2005 Cash dividend

-

Allocation for appropriate reserve

269.070

Increase in paid-up capital and additional paid-in capital through initial public offering

5.892

Share option reserve

315.216

Net income for 2006

Peningkatan modal disetor dan agio saham melalui penawaran umum saham perdana kepada publik

1e, 26a,26b

84.376

184.694

-

-

-

Cadangan opsi saham

2ab,27

-

-

5.892

-

-

-

-

-

-

315.216

773.756

184.694

5.892

388.445

315.216

1.668.003

Balance as at December 31, 2006

-

-

-

-

Laba bersih tahun 2006 Saldo pada tanggal 31 Desember 2006 Dividen kas Pembentukan cadangan umum

26c

(126.086)

(126.086)

Cash dividend

-

-

-

189.130

(189.130)

-

Allocation for appropriate reserve

1e, 26a,26b

8.723

33.138

-

-

-

41.861

Increase in paid-up capital arising from the exercise of share options

Penambahan cadangan opsi saham

2ab,27

-

-

15.473

-

-

15.473

Addition of share option reserve

Pembalikan cadangan opsi saham yang telah dieksekusi

2ab,27

-

-

(9.584 )

-

-

(9.584)

-

-

-

-

375.126

375.126

Net income for 2007

782.479

217.832

11.781

577.575

375.126

1.964.793


-

-

-

-

Peningkatan modal disetor dan agio berasal dari eksekusi opsi saham

26c

Laba bersih tahun 2007 Saldo pada tanggal 31 Desember 2007 Dividen kas Pembentukan cadangan umum Peningkatan modal disetor dan agio berasal dari eksekusi opsi saham Penambahan cadangan opsi saham Pembalikan cadangan opsi saham yang telah dieksekusi Laba bersih tahun 2008 Saldo pada tanggal 31 Desember 2008

26c

(187.563 )

(187.563)

Reversals of share option reserve which have been exercised

Cash dividend

-

-

-

187.563

(187.563)

-

26a,26b

154

578

-

-

-

732

Allocation for appropriate reserve Increase in paid-up capital and additional paid-in capital arising from the exercise of share options

2ab,27

-

-

16.592

-

-

16.592

Adddition of share option reserve

2ab,27

-

-

-

-

-

-

-

-

368.780

368.780

Net income for 2008

782.633

218.410

28.206

765.138

368.780

2.163.167


26c

(167 )


(167 )

Reversals of share option reserve which have been exercised


6


PT BANK BUKOPIN TBK. DAN ANAK-ANAK PERUSAHAAN LAPORAN ARUS KAS KONSOLIDASIAN Tahun yang Berakhir pada Tanggal-tanggal 31 Desember 2008 dan 2006 Dengan Angka Perbandingan Untuk 2007 (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain) 2008 ARUS KAS DARI AKTIVITAS OPERASI Penerimaan bunga, provisi dan komisi, dan pendapatan Syariah Pembayaran bunga, beban Syariah, dan pembiayaan lainnya Pendapatan operasional Iainnya Penerimaan kembali kredit yang telah dihapusbukukan Pembayaran gaji dan tunjangan karyawan Beban operasional Iainnya (Beban) pendapatan non-operasional Pembayaran pajak penghasilan Laba sebelum perubahan dalam aktiva dan kewajiban operasi Perubahan dalam aktiva dan kewajiban operasi: Penurunan (kenaikan) aktiva operasi Penempatan pada Bank Indonesia dan bank lain Surat-surat berharga yang diperdagangkan Tagihan akseptasi Surat-surat berharga yang dibeli dengan janji dijual kembali Kredit yang diberikan dan pembiayaan/piutang Syariah Aktiva lain-lain Kenaikan (penurunan) kewajiban operasi: Kewajiban segera Simpanan nasabah: Giro Tabungan Deposito berjangka Simpanan dari bank lain Surat-surat berharga yang dijual dengan janji dibeli kembali Kewajiban akseptasi Hutang pajak Kewajiban lain-lain Kas bersih (digunakan untuk) diperoleh dari aktivitas operasi

ARUS KAS DARI AKTIVITAS INVESTASI Kenaikan (penurunan) surat-surat berharga yang dimiliki hingga jatuh tempo Pembelian aset tetap Kenaikan penyertaan saham Kas bersih diperoleh melalui akuisisi anak-anak perusahaan Hasil penjualan aset tetap Kas bersih diperoleh dari (digunakan untuk) aktivitas investasi

PT BANK BUKOPIN TBK. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS Years Ended December 31, 2008 and 2006 With Comparative Figures For 2007 (Expressed in millions of Rupiah, unless otherwise stated)

2007

2006

3.418.291

3.242.188

3.057.647

(1.893.196) 361.517

(1.924.430) 224.336

(1.828.028) 171.571

CASH FLOWS FROM OPERATING ACTIVITIES Receipts from interests, fees and commissions, and Sharia incomes Payments of interest, Sharia, and other financing charges Other operating incomes

37.821 (425.012) (615.938) (29.752) (185.642)

104.134 (377.999) (510.822) 18.138 (194.640)

129.213 (336.074) (418.755) 29.899 (127.091)

Recoveries from loans written-off Salaries and employee benefits Other operating expenses Non-operating (expenses) incomes Payment of corporate income taxes

668.089

580.905

678.382

Profit before changes in operating assets and liabilities

(648.095)

917.029

Changes in operating assets and liabilities: Decrease (increase) in operating assets: Placements with Bank Indonesia and other banks

159.187 (57.040)

5.983 (12.269)

8.492 (28.854)

(77.938)

(7.085)

22.810

(3.986.815) 25.249

(4.520.827) (128.212)

(30.324)

(1.380.922)

904.839

(3.072.665) 1.151.188 150.805 266.039

553.838 970.806 2.882.198 (53.688)

594.591 274.022 3.856.948 251.673

57.040 23.381 (84.004)

(494.650) 12.269 (9.917) 52.645

(2.594.636)

(2.197.021)

2.213.172

(1.027.055) 118.009

494.650 28.457 (105.173) 14.299

7.003.119

Marketable securities - trading Acceptance receivables Marketable securities purchased with agreements to resell Loans and Sharia financing receivables Other assets Increase (decrease) in operating liabilities: Liabilities immediately payable Deposits from customers: Demand deposits Savings deposits Time deposits Deposits from other banks Marketable securities sold with agreement to repurchase Acceptance payables Taxes payables Other liabilities Net cash (used in) provided by operating activities CASH FLOWS FROM INVESTING ACTIVITIES

Increase (decrease) 2.007.335 (135.696) (100.000)

3.779.474 (101.479) -

25.932

1.584

1.797.571

3.679.579


(7.024.278) (83.083) (36.875) 2.557 1.769

(7.139.910)

securities - held-to-maturity Purchase of fixed assets Increase of investment of shares Net cash received from acquisition of a subsidiary Proceeds from sale of fixed assets Net cash provided by (used in) investing activities


7


PT BANK BUKOPIN TBK. DAN ANAK-ANAK PERUSAHAAN LAPORAN ARUS KAS KONSOLIDASIAN (lanjutan) Tahun yang Berakhir pada Tanggal-tanggal 31 Desember 2008 dan 2006 Dengan Angka Perbandingan Untuk 2007 (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain) 2008 ARUS KAS DARI AKTIVITAS PENDANAAN Penerimaan dari pinjaman yang diterima Pembelian kembali surat-surat berharga yang diterbitkan Pembagian dividen kas Pembayaran pinjaman yang diterima Opsi kepemilikan saham oleh karyawan yang dieksekusi Penerimaan modal disetor dari penawaran umum saham Penerimaan agio saham dari penawaran umum saham Kas bersih (digunakan untuk) diperoleh dari aktivitas pendanaan KENAIKAN (PENURUNAN) BERSIH KAS DAN SETARA KAS

KAS DAN SETARA KAS AWAL TAHUN

PT BANK BUKOPIN TBK. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (continued) Years Ended December 31, 2008 and 2006 With Comparative Figures For 2007 (Expressed in millions of Rupiah, unless otherwise stated) 2007

2006 CASH FLOWS FROM FINANCING ACTIVITIES

89.412

43.797

(575.000) (187.563) (59.035)

(10.000) (126.086) -

732

41.861

-

-

-

-

36.725 - Buy-back of marketable securities issued (115.504) Distributions of cash dividends (129.167) Payment of fund borrowings Employees stock options exercise Receipts from paid-up capital stock 84.377 from IPO of shares Receipts from paid

(731.454)

(50.428)

(1.528.519)

4.183.662

184.694

Net cash (used in) provided by financing activities

61.125

1.432.130

2.751.532

of shares

(75.666)

2.827.198

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR

KAS DAN SETARA KAS AKHIR TAHUN

2.655.143

4.183.662

2.751.532

CASH AND CASH EQUIVALENTS AT END OF YEAR

Kas dan setara kas terdiri dari: Kas Giro pada Bank Indonesia Giro pada bank lain

683.155 1.199.882 772.106

421.803 3.687.390 74.469

275.562 2.422.298 53.672

Cash and cash equivalents consist of: Cash Current accounts with Bank Indonesia Current accounts with other banks

Jumlah

2.655.143

4.183.662

2.751.532

Total



8


PT BANK BUKOPIN TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Years Ended December 31, 2008 and 2006 With Comparative Figures For 2007 (Expressed in millions of Rupiah, unless otherwise stated)

PT BANK BUKOPIN TBK. DAN ANAK-ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tahun yang Berakhir pada Tanggal-tanggal 31 Desember 2008 dan 2006 Dengan Angka Perbandingan Untuk 2007 (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain) 1.

INFORMASI UMUM a.

1.

Pendirian

GENERAL INFORMATION a. Establishment

PT Bank Bukopin Tbk. (“Bank”) didirikan di Republik lndonesia pada tanggal 10 Juli 1970 dengan nama Bank Umum Koperasi Indonesia (disingkat Bukopin) yang disahkan sebagai badan hukum berdasarkan Surat Keputusan Direktorat Jenderal Koperasi No. 13/Dirjen/Kop/70 dan didaftarkan dalam Daftar Umum Direktorat Jenderal Koperasi No. 8251 pada tanggal yang sama. Bank mulai melakukan usaha komersial sebagai bank umum koperasi di Indonesia sejak tanggal 16 Maret 1971 dengan izin Menteri Keuangan dalam Surat Keputusan No. Kep-078/DDK/II/3/1971 tanggal 16 Maret 1971.

PT Bank Bukopin Tbk. (the “Bank”) was established in the Republic of Indonesia on July 10, 1970 as Bank Umum Koperasi Indonesia (abbreviated to Bukopin) based on Decision Letter No. 13/Dirjen/Kop/70 of the Directorate General for Cooperatives and was registered in the General List of the Directorate General for Cooperatives No. 8251 on the same date. The Bank started its commercial operations as a cooperative bank in Indonesia on March 16, 1971 upon the approval of the Ministry of Finance in its Decision Letter No. Kep-078/DDK/II/3/1971 dated March 16, 1971.

Menurut anggaran dasarnya, usaha Bank mencakup segala kegiatan bank umum sebagaimana dimaksud dalam Undang-undang Perbankan dengan tujuan utama memperhatikan dan melayani kepentingan gerakan koperasi di Indonesia sesuai dengan Undang-undang Perkoperasian yang berlaku. Dalam perkembangannya, Bank telah melakukan penggabungan usaha dengan beberapa bank umum koperasi. Perubahan nama Bank Umum Koperasi Indonesia (Bukopin) menjadi Bank Bukopin disahkan dalam Rapat Anggota Bank Umum Koperasi Indonesia yang dituangkan dalam surat No. 03/RA/XII/89 tanggaI 2 Januari 1990.

According to the articles of association, the Bank’s scope of activities include all commercial banking activities as defined in the Banking Law, with the main objective of providing services to cooperatives in Indonesia in accordance with the Law on Cooperatives. During its growth, the Bank merged with certain cooperative banks. The change in the name from Bank Umum Koperasi Indonesia (Bukopin) to Bank Bukopin was approved during the Cooperative Members’ Meeting of Bank Umum Koperasi Indonesia as stated in letter No. 03/RA/XIl/69 dated January 2, 1990.

Dalam Rapat Khusus Anggota Bank, yang dinyatakan dengan akta notaris No. 4 tanggal 2 Desember 1992 dari Notaris Muhani Salim, S.H., para anggota menyetujui untuk mengubah status badan hukum Bank dari koperasi menjadi perseroan terbatas. Akta pendirian yang berkaitan dengan perubahan status badan hukum Bank dinyatakan dengan akta notaris No. 126 tanggal 25 Februari 1993 dari Notaris Muhani Salim, S.H. beserta pembetulannya, dengan akta notaris No. 118 tanggal 28 Mei 1993 dari notaris yang sama.

During the Special Meeting of the Cooperative Members of Bank, the minutes of which were covered by notarial deed No. 4 dated December 2, 1992 of Muhani Salim, S.H., the cooperative members agreed to change the Banks legal entity from a cooperative to a limited liability company. The Bank’s deed of establishment and the amendment relating to the change in legal entity ware covered by notarial deed No. 126 dated February 25, 1993 of Muhani Salim, S.H., and notarial deed No. 118 dated May 28, 1993 of the same notary, respectively.

9



PT BANK BUKOPIN TBK. DAN ANAK-ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tahun yang Berakhir pada Tanggal-tanggal 31 Desember 2008 dan 2006 Dengan Angka Perbandingan Untuk 2007 (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)

1.

INFORMASI UMUM (lanjutan) a.

1.

GENERAL INFORMATION (continued)

Pendirian (lanjutan)

a. Establishment (continued)

Perubahan ini telah disahkan oleh Menteri Kehakiman Republik lndonesia dalam Surat Keputusan No. C2-5332.HT.01.01.TH.93 tanggal 29 Juni 1993 serta diumumkan dalam Berita Negara Republik Indonesia No. 3633. Tambahan No. 64 tanggal 10 Agustus 1993. Perubahan ini juga telah disetujui oleh Menteri Keuangan Republik Indonesia dalam Surat Keputusan No. S-1382/MK.17/1993 tanggal 28 Agustus 1993. Bank memulai kegiatan usaha dalam bentuk perseroan terbatas pada tanggal 1 Juli 1993.

These changes were approved by the Minister of Justice of the Republic of Indonesia in its Decision Letter No. C2-5332.HT.01.01.TH.93 dated June 29, 1993, and were published in Supplement No. 64 of State Gazette No. 3633 dated August 10, 1993. The change was also approved by the Minister of Finance of the Republic of Indonesia in its Decision Letter No. S-1382/MK.17/1993 dated August 28, 1993 The Bank started commercial operations as a limited liability company on July 1, 1993.

Anggaran Dasar Bank telah mengalami perubahan dari waktu ke waktu perubahan terakhir dinyatakan dengan akta notaris No. 19 tanggal 16 September 2008 dari Notaris Lindasari Bachroem, S.H. tentang perubahan modal ditempatkan dan disetor penuh yang terdiri dari 21.337.978 saham kelas A dengan total nilai sebesar Rp213.379.780.000 (nilai penuh) dan 5.692.521.050 saham kelas B dengan total nilai Rp569.252.105.000 (nilai penuh). Perubahan ini telah diterima oleh Menteri Hukum dan Hak Asasi Manusia dengan Surat Keputusan No. AHU-AH.01.1025437 tanggal 18 Desember 2008.

The Articles of Association have been amended several times, the most recent changes was by notarial deed No. 19 dated September 16, 2008 of Lindasari Bachroem, S.H.. The amendment was in respect of the change in issued and paid-up capital stock consisting of 21,337,978 common A shares with total value amounting to Rp213,379,780,000 (full amount) and 5,692,521,050 common B shares with total value amounting to Rp569,252,105,000 (full amount). This amendment was received by the Minister of Law and Human Rights of the Republic of Indonesia with its Decision Letter No. AHU-AH.01.10-25437 dated December 18, 2008.

Kantor pusat Bank beralamat di Jalan M.T. Haryono Kav. 50-51, Jakarta 12770, Indonesia.

The Bank’s head office is located at Jalan M.T. Haryono Kav. 50-51, Jakarta 12770, Indonesia.

Pada tanggal 31 Desember 2008, 2007, dan 2006, Bank memiliki kantor cabang, kantor cabang Syariah, kantor cabang pembantu, kantor cabang pembantu Syariah, kantor kas dan kantor payment center sebagai berikut:

As at December 31, 2008, 2007, and 2006, the Bank has branches, Sharia branches, subbranches, Sharia sub-branches, cash offices and payment centers are as follows:

2008 Kantor cabang Kantor cabang Syariah Kantor cabang pembantu Kantor cabang pembantu Syariah Kantor kas Kantor payment center

2007

2006

36 5 85

35 5 80

34 5 77

Branches Sharia branches Sub-branches

3 129 36

2 124 34

2 122 39

Sharia sub-branches Cash offices Payment centers

Pada tanggal 31 Desember 2008, jumlah karyawan Bank adalah 4.241 karyawan (2007: 4.074 karyawan; 2006: 4.004 karyawan).

As at December 31, 2008, the Bank has a total of 4,241 employees (2007: 4,074 employees; 2006: 4,004 employees).

10




1.

INFORMASI UMUM (lanjutan) b.

1.

Susunan Pengurus Bank

GENERAL INFORMATION (continued) b. Composition of the Bank’s Management

Berdasarkan Rapat Umum Pemegang Saham Tahunan yang dilaksanakan pada tanggal 23 Mei 2008 yang dinyatakan dengan akta notaris No. 8 tanggal 6 Juni 2008 dari Notaris Lindasari Bachroem, S.H., susunan Dewan Komisaris dan Direksi Bank pada tanggal 31 Desember 2008 adalah sebagai berikut:

Based on the minutes of the Annual General Meeting of Shareholders held on May 23, 2008 which were covered by notarial deed No. 8 dated June 6, 2008 of Lindasari Bachroem, S.H., the members of the Bank’s Boards of Commissioners and Directors as at December 31, 2008 are as follows: 2008

Dewan Komisaris: Presiden Komisaris Komisaris Komisaris Komisaris lndependen Komisaris Independen Komisaris lndependen Direksi: Direktur Utama Direktur Keuangan dan Perencanaan Direktur Pelayanan dan Distribusi Direktur Manajemen Risiko, Kepatuhan, dan Pengembangan Sumber Daya Manusia Direktur Usaha Mikro, Kecil, Menengah, dan Koperasi Direktur Komersial Direktur Konsumer *

Saean Achmady Andi Chaerudin Muhamad* Commissioner Boediarso Teguh Widodo Syamsul Effendi Yoyok Sunaryo Sutrisno Iwantono** Glen Glenardi Tri Joko Prihanto Agus Hernawan

Sunaryono Sulistyohadi DS Mikrowa Kirana Lamira Septini Parwedi *

Wafat pada tanggal 15 Maret 2009

Board of Commissioners: President Commissioner Commissioner Independent Commissioner Independent Commissioner Independent Commissioner

Board of Directors: President Director Director of Finance and Planning Director of Services and Distribution Director of Risk Management, Compliance, and Human Resources Development Director of Cooperatives, Medium, Small, and Micro Enterprises Director of Commercial Director of Consumer Passed away on March 15, 2009

** Berdasarkan risalah Rapat Umum Pemegang

** Based on the result of the Extraordinary General

Saham Luar Biasa (RUPSLB) No. 7 tanggal 22 Januari 2009, yang bersangkutan telah diganti oleh Loso Judijanto.

Meeting of Shareholders (RUPSLB) No. 7 held on January 22, 2009, he has been replaced by Loso Judijanto

Berdasarkan Rapat Umum Pemegang Saham Tahunan yang dilaksanakan pada tanggal 23 Mei 2007 yang dinyatakan dengan akta notaris No. 31 dari Notaris Lindasari Bachroem, S.H., susunan Dewan Komisaris dan Direksi Bank pada tanggal 31 Desember 2007 adalah sebagai berikut:

Based on the minutes of the Annual General Meeting of Shareholders held on May 23, 2007 which were covered by notarial deed No. 31 of Lindasari Bachroem, S.H., the members of the Bank’s Boards of Commissioners and Directors as at December 31, 2007 are as follows: 2007

Dewan Komisaris: Presiden Komisaris Komisaris Komisaris Komisaris lndependen Komisaris Independen Komisaris lndependen

Saean Achmady Andi Chaerudin Muhamad Boediarso Teguh Widodo Syamsul Effendi Yoyok Sunaryo Sutrisno Iwantono

11

Board of Commissioners: President Commissioner Commissioner Commissioner Independent Commissioner Independent Commissioner Independent Commissioner




1.


1.

Susunan Pengurus Bank (lanjutan)

GENERAL INFORMATION (continued) b. Composition of the Bank’s Management (continued)

2007 Direksi: Direktur Utama Direktur Keuangan dan Perencanaan Direktur Pelayanan dan Distribusi Direktur Manajemen Risiko, Kepatuhan, dan Pengembangan Sumber Daya Manusia Direktur Usaha Mikro, Kecil, Menengah, dan Koperasi Direktur Komersial Direktur Konsumer

Glen Glenardi Tri Joko Prihanto Agus Hernawan

Sunaryono Sulistyohadi DS Mikrowa Kirana Lamira Septini Parwedi

Berdasarkan Rapat Umum Pemegang Saham Tahunan Luar Biasa yang dilaksanakan pada tanggal 9 Mei 2006 dan 28 Juni 2006 yang dinyatakan dengan akta notaris No. 9 tanggal 9 Mei 2006 dan akta notaris No. 86 tanggal 28 Juni 2006 dari Notaris Lindasari Bachroem, S.H., susunan Dewan Komisaris dan Direksi Bank pada tanggal 31 Desember 2006 adalah sebagai berikut:

Board of Directors: President Director Director of Finance and Planning Director of Services and Distribution Director of Risk Management, Compliance, and Human Resources Development Director of Cooperatives, Medium, Small, and Micro Enterprises Director of Commercial Director of Consumer

Based on the minutes of the Annual Extraordinary General Meeting of Shareholders held on May 9, 2006 and June 28, 2006, which were covered by notarial deed No. 9 dated May 9, 2006 and No. 86 dated June 28, 2006 of Lindasari Bachroem, S.H., the members of the Bank’s Boards of Commissioners and Directors as at December 31, 2006 are as follows: 2006

Dewan Komisaris: Presiden Komisaris Komisaris Komisaris Komisaris Komisaris lndependen Komisaris Independen Komisaris lndependen Direksi: Direktur Utama Direktur Keuangan dan Perencanaan Direktur Pelayanan dan Distribusi Direktur Manajemen Risiko, Kepatuhan, dan Pengembangan Sumber Daya Manusia Direktur Usaha Mikro, Kecil, Menengah, dan Koperasi Direktur Komersial Direktur Konsumer

Saean Achmady Andi Chaerudin Muhamad Johnny Wahab Boediarso Teguh Widodo Syamsul Effendi Yoyok Sunaryo Sutrisno Iwantono

Glen Glenardi Tri Joko Prihanto Agus Hernawan

Sunaryono Sulistyohadi DS Mikrowa Kirana Lamira Septini Parwedi

12

Board of Commissioners: President Commissioner Commissioner Commissioner Commissioner Independent Commissioner Independent Commissioner Independent Commissioner Board of Directors: President Director Director of Finance and Planning Director of Services and Distribution Director of Risk Management, Compliance, and Human Resources Development Director of Cooperatives, Medium, Small, and Micro Enterprises Director of Commercial Director of Consumer




1.


1.

Susunan Pengurus Bank (lanjutan)

GENERAL INFORMATION (continued) b. Composition of the Bank’s Management (continued)

Susunan Dewan Pengawas Syariah pada tanggal 31 Desember 2008, 2007, dan 2006 adalah sebagai berikut: Ketua Anggota Anggota

The composition of the Bank’s Sharia Supervisory Board as at December 31, 2008, 2007, and 2006 are as follows:

Didin Hafidhuddin Ali Mustafa Ya’kub Ichwan Abidin

Susunan Komite Audit Bank pada tanggal 31 Desember 2008, 2007, dan 2006 adalah sebagai berikut: Ketua Anggota Anggota c.

Chairman Member Member The composition of the Banks Audit Committee as at December 31, 2008, 2007, and 2006 are as follows:

Syamsul Effendi Suratto Siswodihardjo Soegijanto

Anak-anak Perusahaan

Chairman Member Member

c. Subsidiaries

Anak-anak perusahaan yang tercakup dalam laporan keuangan konsolidasian pada tanggal 31 December 2008 adalah PT Bukopin Finance (dahulu PT Indo Trans Buana Multi Finance ("ITBMF")) dan PT Bank Syariah Bukopin ("BSB") (dahulu PT Bank Persyarikatan Indonesia ("BPI")).

The subsidiaries included in the consolidated financial statements as at December 31, 2008 are PT Bukopin Finance (formerly PT Indo Trans Buana Multi Finance (“ITBMF”)) and PT Bank Syariah Bukopin (“BSB”) (formerly PT Bank Persyarikatan Indonesia (“BPI”)).

PT Bukopin Finance didirikan pada tanggal 11 Maret 1983 berdasarkan akta notaris No. 5 dari Notaris Tan A Sioe, S.H., yang bergerak dalam bidang leasing (perusahaan pembiayaan). Anggaran dasar Perusahaan telah mengalami beberapa kali perubahan, terakhir dengan Akta No. 1 tanggal 9 Juni 2008 yang dibuat oleh Notaris Amastasia Dau S.H., sehubungan dengan perubahan nama Perusahaan.

PT Bukopin Finance was established on March 11, 1983 by notarial deed No. 5 of Notary Tan A Sioe, S.H., engaged in leasing industry. The Company’s articles of association have been amended several times, the last is notarial deed No. 1 dated June 9, 2008 of Notary Amastasia Dau S.H., regarding changed in the Company’s name.

PT Bank Persyarikatan Indonesia didirikan pada tanggal 29 Juli 1990 berdasarkan akta notaris No. 102 dari Notaris Dr. Widjojo Wilami, S.H., yang bergerak dalam bidang perbankan. Berdasarkan akta notaris No. 28 dari Notaris Adrian Djunaini, S.H. tanggal 31 Maret 2008, BPI telah berubah nama menjadi PT Bank Syariah Bukopin (“BSB”). Status Bank berubah dari Bank Konvensional menjadi Bank Syariah sebagaimana dinyatakan dalam persetujuan Bank Indonesia (BI) No. 10/69/KEP.GBI/DpG/2008 tanggal 27 Oktober 2008.

PT Bank Persyarikatan Indonesia was established on July 29, 1990 by notarial deed No. 102 of Notary Dr. Widjojo Wilami, S.H., engaged in banking industry. Based on notarial deed No. 28 of Notary Adrian Djunaidi, S.H. dated March 31, 2008, BPI has changed its name to PT Bank Syariah Bukopin (“BSB”). The Bank’s status changed from Conventional Bank to Sharia Bank as stated in Bank Indonesia (BI) decision leter No. 10/69/KEP.GBI/DpG/2008 dated October 27, 2008.

13




1.

INFORMASI UMUM (lanjutan) c.

1.

Anak-anak Perusahaan (lanjutan)

GENERAL INFORMATION (continued) c. Subsidiaries (continued)

PT Bukopin Finance (“BF”) ( dahulu PT Indo Trans Buana Multi Finance (“ITBMF”))

PT Bukopin Finance (“BF”) (formerly PT Indo Trans Buana Multi Finance (“ITBMF”))

Pada tanggal 10 Maret 2006, Bank mengakuisisi 50% saham BF sebesar Rp5.000. Goodwill yang terbentuk dari akuisisi ini sebesar Rp651.

On March 10, 2006, the Bank acquired 50% of BF’s shares amounting to Rp5,000. Goodwill generated from this acquisition was Rp651.

Selanjutnya pada tanggal 20 Desember 2006 (tanggal akuisisi), Bank telah menambah kepemilikannya pada BF sebesar 30% menjadi 80% dengan biaya perolehan sebesar Rp15.000. Sehingga mulai tanggal 20 Desember 2006, laporan keuangan BF dikonsolidasikan dalam laporan keuangan konsolidasian Bank. Goodwill yang dicatat dari akuisisi tersebut adalah sebesar Rp305.

On December 20, 2006 (acquisition date), the Bank had increased its ownership in BF of 30% to become 80% with acquisition price amounting to Rp15,000. Therefore, since December 20, 2006, BF’s financial statements have been consolidated into the Bank’s consolidated financial statements. Goodwill generated from this acquisition was Rp305.

PT Bank Syariah Bukopin (“BSB”) (dahulu PT Bank Persyarikatan Indonesia (“BPI”))

PT Bank Syariah Bukopin (“BSB”) (formerly PT Bank Persyarikatan Indonesia (“BPI”))

Pada tanggal 25 Januari 2006, Bank mengakuisisi 24,73% saham BSB sebesar Rp42.000. Pada tanggal 31 Maret 2008 (tanggal akuisisi), Bank telah menambah kepemilikannya pada BPI dengan nilai sebesar 40,11% menjadi 65,44%. Akuisisi tersebut adalah berdasarkan keputusan Rapat Umum Pemegang Saham Luar Biasa Bank tanggal 6 Maret 2008, dimana Bank telah mendapat persetujuan pemegang saham untuk mengakuisisi saham baru BPI dengan cara membeli saham seri C sebanyak 2.000.000.000 lembar saham dengan harga Rp50 (nilai penuh) per lembar saham (sebesar Rp100.000) dimana akhirnya total kepemililkan saham Bank Bukopin menjadi 65,44%. Akuisisi tersebut dilakukan sebagai salah satu strategi Bank dalam pengembangan usaha syariah Bank secara keseluruhan. Mulai tanggal 31 Maret 2008, laporan keuangan BPI telah dikonsolidasikan kedalam laporan keuangan konsolidasian Bank.

On January 25, 2006, the Bank acquired 24.73% of BSB’s shares amounting to Rp42,000. On March 31, 2008 (acquisition date) the Bank had increased its ownership in BPI of 40.11% to become 65.44%. The acquisition was based on the Extraordinary General Shareholders Meeting of the Bank on March 6, 2008, where the Bank received approval to acquire new shares of BPI by purchasing 2,000,000,000 series C shares with a price of Rp50 (full amount) per share (total of Rp100,000) which made the total share ownership of the Bank to become 65.44%. This acquisition was the Bank’s strategy to develop its sharia business. Since March 31, 2008, BPI’s financial statements have been consolidated into the Bank’s consolidated financial statements.

14




1.

INFORMASI UMUM (lanjutan) c.

d.

1.


GENERAL INFORMATION (continued) c. Subsidiaries (continued)

Ketika akuisisi melibatkan lebih dari satu transaksi, setiap transaksi signifikan harus diperlakukan secara terpisah oleh pengakuisisi untuk menentukan nilai wajar aktiva dan kewajiban teridentifikasi yang diakui dan dalam menentukan jumlah goodwill dari transaksi tersebut.

Where acquisition involves more than one exchange transaction, each significant transaction shall be treated separately by the acquirer for the purpose of determining the fair value of the identifiable assets and liabilities acquired and for determining the amount goodwill on that transaction.

Bank telah melakukan perhitungan goodwill atas akuisisi 24,73% saham BSB dan tambahan akuisisi 40,71% saham. Jumlah keseluruhan goodwill yang dicatat dari akuisisi tersebut adalah sebesar Rp295.234. Transaksi tersebut menjadikan kepemilikan Bank atas BSB menjadi 65,44%.

The Bank has calculated goodwill for acquisition of 24,73% of BSB’s shares and additional acquisition of 40,71% shares. Total goodwill recorded from the acquisition is amounting to Rp295,234. Both trasactions have made the total share ownership of the Bank to be 65.44%.

Program Rekapitalisasi Bank

d. The Bank’s Recapitalization Program

Bank ikut serta dalam program rekapitalisasi Pemerintah sesuai dengan Keputusan Bersama Menteri Keuangan dan Gubernur BI No. 53/KMK.017/1999 dan No. 31/12/KEP/GBI tanggal 8 Februari 1999 tentang Pelaksanaan Program Rekapitulasi Bank Umum dan mendapat persetujuan Rapat Umum Pemegang Saham Luar Biasa yang dinyatakan dengan akta notaris No. 64 tanggal 30 Juni 1999 dari Notaris Lindasari Bachroem, S.H..

The Bank’s participation in the Government recapitalization program in accordance with Joint Decree No. 53/KMK.017/1999 and No. 31/I2/KEP/GBI dated February 8, 1999 of the Ministry of Finance and the Governor of BI on the Implementation of the Commercial Bank Recapitalization Program, was approved in the Extraordinary General Stockholders’ Meeting, the minutes of which were covered by notarial deed No. 64 dated June 30, 1999 of Lindasari Bachroem, S.H..

Pada tahun 2001, Bank telah menyelesaikan program rekapitalisasi tersebut dengan melakukan hal-hal berikut:

In 2001, the Bank concluded its recapitalization program with the completion of the following:

•

Pembelian kembali kredit non-performing yang sebelumnya telah diserahkan kepada Badan Penyehatan Perbankan Nasional (BPPN).

•

Repurchased of non-performing loans formerly transferred to the Indonesian Banking Restructuring Agency (IBRA).

•

Konversi saham milik Negara Republik Indonesia (saham biasa kelas C) di Bank menjadi saham biasa kelas B pada tanggal 21 Desember 2001 yang lebih dini dari pada tanggal jatuh temponya, yaitu tanggal 28 Mei 2002.

•

Conversion of the shares held by the Republic of Indonesia (common C shares) to common B shares on December 21, 2001 which was earlier than the agreed due date of May 28, 2002.

15




1.

INFORMASI UMUM (lanjutan) e.

1.


Penawaran Umum Obligasi dan Penawaran Umum Saham Perdana Bank

e. Public Offering of the Bank’s Bonds and Shares

Pada tanggal 30 Juni 2003, Bank memperoleh penyertaan efektif dari Ketua Badan Pengawas Pasar Modal dari Lembaga Keuangan (BAPEPAM-LK) dengan suratnya No S1564/PM/2003 untuk melakukan penawaran umum obligasi sebesar Rp600.000.000 yang terdiri dari Obligasi Seri A Bank Bukopin II Tahun 2003 sebesar Rp319.000.000, Obligasi Subordinasi Seri B Bank Bukopin Tahun 2003 sebesar Rp236.000.000, dan Obligasi Syariah Mudharabah Bank Bukopin Tahun 2003 sebesar Rp45.000.000. Obligasi Seri A Bank Bukopin II Tahun 2003 dan Obligasi Subordinasi Seri B Bank Bukopin Tahun 2003 ditawarkan sebesar nilai nominal sedangkan Obligasi Syariah Mudharabah Bank Bukopin Tahun 2003 ditawarkan dengan nilai 100% dari jumlah Obligasi Syariah.

On June 30, 2003, the Bank received the notice of effectivity from the Capital Market and Financial Institution Supervisory Agency (BAPEPAM-LK) No. S-1564/PM/2003 for the public offering of the Bank’s Bonds with a total face value of Rp600,000,000 consisting of Series A Bank Bukopin II 2003 Bonds amounting to Rp319,000,000, Subordinated Series B Bank Bukopin 2003 Bonds amounting to Rp236,000,000 and Sharia Mudharabah Bank Bukopin 2003 Bonds amounting to Rp45,000,000. Series A Bank Bukopin II 2003 Bonds and Subordinated Series B Bank Bukopin 2003 Bonds were offered at their nominal value, whereas Sharia Mudharabah Bank Bukopin 2003 Bonds were offered with a total 100% fund of Sharia Bonds.

Sehubungan dengan penawaran tersebut, Obligasi Seri A Bank Bukopin II Tahun 2003 dan Obligasi Syariah Mudharabah Bank Bukopin Tahun 2003 memperoleh hasil pemeringkatan “idA-“ (2006: “idA-“ dan 2005: “idBBB+”), sedangkan Obligasi Subordinasi Seri B Bank Bukopin Tahun 2003 memperoleh hasil pemeringkatan ”idBBB+” (2006: “idBBB+” dan 2005: “idBBB”) dari PT Pemeringkat Efek Indonesia. Sejak tanggal 15 JuIi 2003 seluruh obligasi Bank yang beredar telah dicatatkan di Bursa Efek Indonesia (dahulu Bursa Efek Surabaya) (Catatan 22).

In connection with this offering, Series A Bank Bukopin II 2003 Bonds and Sharia Mudharabah Bank Bukopin 2003 Bonds were rated “idA-” (2006: “idA-“ and 2005: “idBBB+”), whereas Subordinated Series B Bank Bukopin 2003 Bonds were rated “idBBB+” (2006: “idBBB+” and 2005: “idBBB”) by PT Pemeringkat Efek Indonesia. The bonds have been listed on the Indonesia Stock Exchange (formerly Surabaya Stock Exchange) since July 15, 2003 (Note 22).

Pada tanggal 10 Juli 2008, Obligasi Seri A Bank Bukopin Tahun 2003 dan Obligasi Syariah Mudharabah Bank Bukopin Tahun 2003 telah jatuh tempo, sedangkan untuk Obligasi Subordinasi Seri B Bank Bukopin Tahun 2003, Bank melaksanakan opsi beli yang dimilikinya.

On July 10, 2008, Obligasi Seri A Bank Bukopin Tahun 2003 and Obligasi Syariah Mudharabah Bank Bukopin Tahun 2003 have been matured, whereas for Obligasi Subordinasi Seri B Bank Bukopin Tahun 2003, the Bank exercised its call option.

16




1.

INFORMASI UMUM (lanjutan) e.

2.

1.


Penawaran Umum Obligasi dan Penawaran Umum Saham Perdana Bank (lanjutan)

e. Public Offering of the Bank’s Bonds and Shares (continued)

Pada bulan Juni 2006, Bank melakukan Penawaran Umum Saham Perdana sejumlah 843.765.500 lembar saham Seri B dengan nilai nominal Rp100 (nilai penuh) per saham dengan harga jual Rp350 (nilai penuh) per saham kepada masyarakat melalui pasar modal sesuai dengan ketentuan perundangundangan yang berlaku. Penawaran Umum Saham Perdana saham Seri B kepada masyarakat ini telah memperoleh pernyataan efektif dari BAPEPAM-LK melalui suratnya No. S-825/BL/2006 tanggal 30 Juni 2006 (Catatan 26a). Saham yang ditawarkan tersebut mulai diperdagangkan di Bursa Efek Indonesia pada tanggal 10 Juli 2006 dan pada saat yang bersamaan seluruh saham Bank juga dicatatkan.

In June 2006, the Bank sold 843.765.500 Series B shares with a par value of Rp100 (full amount) per share and offering price of Rp350 (full amount) per share to the public, through the capital market in Indonesia, in accordance with the prevailing Capital Market Law. The Bank received a notice of effectivity from the BAPEPAM-LK through its letter No. S-825/BL/2006 dated June 30, 2006 for the sale of Series B shares to the public (Note 26a). On July 10, 2006, the IPO shares were initially traded and listed in the Indonesia Stock Exchange.

KEBIJAKAN AKUNTANSI

2.

ACCOUNTING POLICIES

Kebijakan akuntansi utama yang diterapkan dalam penyusunan laporan keuangan konsolidasian Bank dan Anak-anak Perusahaan adalah seperti dijabarkan dibawah ini:

The principal accounting policies adopted in preparing the consolidated financial statements of the Bank and Subsidiaries are set out below:

a.

a. Basis of Preparation Financial Statements

Dasar Penyusunan Konsolidasian

Laporan

Keuangan

of

Consolidated

Laporan keuangan konsolidasian disusun sesuai dengan prinsip akuntansi yang berlaku umum di Indonesia dan Peraturan No. VIII.G.7 tentang Pedoman Penyajian Laporan Keuangan yang terdapat dalam Lampiran Keputusan Ketua BAPEPAM-LK No. KEP06/PM/2000 tanggal 13 Maret 2000 dan Surat Edaran No. SE-02/BL/2008 tanggal 31 Januari 2008 tentang “Pedoman Penyajian dan Pengungkapan Laporan Keuangan Emiten atau perusahaan publik industri pertambangan umum, minyak dan gas bumi, dan perbankan”.

The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in Indonesia and Regulation No. VIII.G.7 regarding Financial Statements Presentation Guidelines included in the Appendix of the Decree of the Chairman of the BAPEPAM-LK No. KEP-06/PM/2000 dated March 13, 2000 and Circular Letter No. SE-02/BL/2008 dated January 31, 2008 regarding “Guidance of Presentation and Disclosure of Financial Statement of public company in the general mining, oil and gas, and banking industries”.

Laporan keuangan konsolidasian disusun berdasarkan harga perolehan kecuali yang terkait dengan penilaian kembali atas aset tetap sesuai dengan ketentuan pemerintah dan instrumen keuangan tertentu seperti surat berharga yang diperdagangkan dan tersedia untuk dijuaI serta instrumen derivatif.

The consolidated financial statements have been prepared under the historical cost convention except for the revaluation of fixed assets which are in accordance with government regulations and certain financial instruments such as trading and available-forsale investment marketable securities and derivative instruments.

17




2.

KEBIJAKAN AKUNTANSI (lanjutan) a.

Dasar Penyusunan Laporan Konsolidasian (lanjutan)

ACCOUNTING POLICIES (continued)

Keuangan

a. Basis of Preparation of Consolidated Financial Statements (continued)

Laporan arus kas konsolidasian disusun dengan menggunakan metode langsung yang menyajikan penerimaan dan pengeluaran kas dan setara kas yang diklasifikasikan ke dalam aktivitas operasi, investasi, dan pendanaan, kecuali untuk beberapa arus kas dalam aktivitas operasional dan pendanaan yang disusun dengan menggunakan metode tidak langsung.

The consolidated statements of cash flows is prepared using the direct method which present receipts and payments of cash and cash equivalents which are classified into operating, investing, and financing activities, except for some cash flows in the operating and financing activities which are prepared using the indirect method.

Dalam penyusunan laporan keuangan konsolidasian sesuai dengan prinsip akuntansi yang berlaku umum di Indonesia dibutuhkan estimasi dan asumsi yang mempengaruhi:

The preparation of consolidated financial statements in conformity with generally accepted accounting principles in Indonesia requires the use of estimates and assumptions that affects:

•

nilai aktiva dan kewajiban dilaporkan, dan pengungkapan atas aktiva dan kewajiban kontinjensi pada tanggal laporan keuangan konsolidasian,

•

the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements,

•

jumlah pendapatan dan beban selama periode pelaporan.

•

the reported amounts of revenues and expenses during the reporting period.

Walaupun estimasi pengetahuan terbaik dan tindakan saat mungkin berbeda diestimasi semula.

b.

2.

ini dibuat berdasarkan Manajemen atas kejadian ini, hasil yang timbul dengan jumlah yang

Although these estimates are based on Management’s best knowledge of current events and activities, actual results may differ from those estimates.

Seluruh angka dalam laporan keuangan konsolidasian ini, kecuali dinyatakan secara khusus, dibulatkan menjadi jutaan Rupiah yang terdekat.

Figures in the consolidated financial statements are rounded to and stated in million of Rupiah unless otherwise stated.

Akuntansi Bank dan Anak-anak Perusahaan i.

b. Bank and Subsidiaries’ Accounting

Anak-anak Perusahaan

i.

Laporan keuangan konsolidasian disajikan sesuai dengan PSAK No. 31 (Revisi 2000) tentang “Akuntansi Perbankan”, yang berlaku efektif 1 Januari 2001, dan prinsip akuntansi yang berlaku umum lainnya ditetapkan oleh Institut Akuntan Publik Indonesia (IAPI), dan jika diperlukan, menggunakan praktek yang lazim berlaku dalam industri perbankan serta pedoman akuntansi dan

Subsidiaries The consolidated financial statements have been prepared in accordance with the PSAK No. 31 (Revised 2000), “Accounting for the Banking Industry”, which has been effective since January 1, 2001, and other generally accepted accounting principles established by the Indonesian Institute of Certified Public Accountants (IICPA), and where applicable, with the prevailing banking

18




2.

KEBIJAKAN AKUNTANSI (lanjutan) b.

2.

Akuntansi Bank dan Anak-anak Perusahaan (lanjutan) i.

ACCOUNTING POLICIES (continued) b. Bank and (continued)


i.

Subsidiaries’

Accounting

Subsidiaries (continued)

pelaporan yang ditetapkan oleh otoritas perbankan Indonesia dan Badan Pengawas Pasar Modal dan Lembaga Keuangan (BAPEPAM-LK) Peraturan No. VIII.G.7 tentang “Pedoman Penyajian Laporan Keuangan” yang terlampir dalam Lampiran Keputusan Ketua BAPEPAM-LK No. KEP.06/PM/2000 tanggal 13 Maret 2000 serta Surat Edaran BAPEPAM-LK No. SE-02/BL/2008 tanggal 31 Januari 2008 tentang “Pedoman Penyajian dan Pengungkapan Laporan Keuangan Emiten atau Perusahaan Publik Industri Pertambangan Umum, Minyak dan Gas Bumi, dan Perbankan”.

industry practices and accounting and reporting guidelines prescribed by the Indonesian banking regulatory authority and the Indonesian Capital Markets and Financial Institutions Supervisory Agency (BAPEPAM-LK) Regulation No. VIII.G.7 “Guidance for Financial Statements Presentation” attached to the Decision Letter No. KEP.06/PM/2000 dated March 13, 2000 issued by the Chairman of BAPEPAM-LK and the Circular Letter of the Chairman of Capital Market and Financial Institution Supervisory Board No. SE-02/BL/2008 dated January 31, 2008 which contain “Presentation and Disclosures Guidelines of the Listed Company’s Financial Statements in Mining, Oil and Gas, and Banking Industry”.

Laporan keuangan konsolidasian meliputi laporan keuangan Bank beserta anakanak perusahaan yang berada dibawah pengendalian Bank, kecuali anak-anak perusahaan yang sifat pengendaliannya adalah sementara atau jika ada pembatasan jangka panjang yang mempengaruhi kemampuan anak-anak perusahaan untuk memindahkan dananya ke Bank.

The consolidated financial statements include the financial statements of the Bank and its subsidiaries that are controlled by the Bank, other than those excluded because control is assumed to be temporary or due to long-term restrictions significantly impairing a subsidiary’s ability to transfer funds to the Bank.

Dalam hal pengendalian terhadap anakanak perusahaan dimulai atau diakhiri dalam suatu tahun berjalan maka hasil usaha anak-anak perusahaan yang diperhitungkan ke dalam laporan keuangan konsolidasian hanya sebatas hasil pada saat pengendalian tersebut mulai diperoleh atau hingga saat pengendalian atas anak-anak perusahaan itu berakhir.

Where an entity either began or ceased to be controlled during the year, the results of operations of that entity are included into the consolidated financial statements only from the date that the control commenced or up to the date that control ceased.

19




2.


2.




i.

Subsidiaries’

Accounting


Pengendalian atas suatu anak-anak perusahaan dianggap ada apabila Bank menguasai Iebih dari 50% (lima puluh persen) hak suara di anak-anak perusahaan, atau Bank dapat menentukan kebijakan keuangan dan operasi dari anak-anak perusahaan atau mempunyai kemampuan untuk memberhentikan atau menunjuk mayoritas anggota dengan direksi di anak-anak perusahaan.

Control is presumed to exist where more than 50% (fifty percent) of a subsidiary’s voting power is controlled by the Bank, or the Bank is able to govern the financial and operating policies of a subsidiary, or control the removal or appointment of the majority of the subsidiary’s board of directors.

Dalam mencatat akuisisi anak-anak perusahaan digunakan metode pembelian. Biaya akuisisi diukur sebesar nilai wajar aktiva yang diserahkan, saham yang diterbitkan atau kewajiban yang diambil alih pada tanggal akusisi, ditambah biaya yang berkaitan secara langsung dengan akuisisi. Kelebihan biaya akuisisi atas nilai wajar aktiva bersih anak-anak perusahaan dicatat sebagai goodwill (Catatan 2.b.ii untuk kebijakan akuntansi atas goodwill).

The purchase method of accounting is used to account for the acquisition of subsidiary. The cost of an acquisition is measured as the fair value of the assets given up, shares issued or liabilities undertaken at the date of acquisition plus costs directly attributable to the acquisition. The excess of the cost of acquisition over the fair value of the net assets of the subsidiary acquired is recorded as goodwill (Note 2.b.ii for the accounting policy on goodwill).

Seluruh saldo dan transaksi termasuk keuntungan/kerugian yang belum direalisasi antar perusahaan yang signifikan dieliminasi untuk mencerminkan posisi keuangan dan hasil usaha Bank dan anak-anak perusahaan sebagai satu kesatuan usaha.

All significant inter-company balances and transactions, including unrealized gain/loss, are eliminated in the consolidation to reflect the financial position and results of operations of the Bank and its subsidiary as one business entity.

Laporan keuangan konsolidasian disusun dengan menggunakan kebijakan akuntansi yang sama untuk peristiwa dan transaksi sejenis dalam kondisi yang sama. Apabila anak-anak perusahaan menggunakan kebijakan akuntansi yang berbeda dari kebijakan akuntansi yang digunakan dalam laporan keuangan konsolidasian, maka dilakukan penyesuaian yang diperlukan terhadap Iaporan keuangan anak-anak perusahaan tersebut.

The consolidated financial statements are prepared using uniform accounting policy for transactions and events in similar circumstances. If a subsidiary’s financial statements uses accounting policies other than those adopted in the consolidated financial statements appropriate adjustments are made to its financial statements.

20




2.


2.


ii.



i.

Subsidiaries’

Accounting


Hak minoritas atas laba bersih dan ekuitas anak-anak perusahaan dinyatakan sebesar proporsi pemegang saham minoritas atas laba bersih dan ekuitas anak-anak perusahaan tersebut sesuai dengan persentase kepemilikan pemegang saham minoritas pada anakanak perusahaan tersebut.

Minority represents the minority stockholders’ proportionate share in the net income and equity of the subsidiary which is presented based on the percentage of ownership of the minority stockholders in the subsidiary.

Sesuai dengan PSAK No. 4 tentang “Laporan Keuangan Konsolidasi”, kerugian yang menjadi bagian dari pemegang saham minoritas pada suatu anak perusahaan dapat melebihi bagiannya dalam modal disetor. Kelebihan tersebut dan kerugian lebih lanjut yang menjadi bagian pemegang saham minoritas, harus dibebankan pada pemegang saham mayoritas, kecuali terdapat kewajiban yang mengikat pemegang saham minoritas untuk menutupi kerugian tersebut dan pemegang saham minoritas mampu memenuhi kewajibannya. Apabila pada periode selanjutnya, anak perusahaan melaporkan laba, maka laba tersebut harus terlebih dahulu dialokasikan kepada pemegang saham mayoritas sampai seluruh bagian kerugian pemegang saham minoritas yang dibebankan pada pemegang saham mayoritas dapat ditutup.

Under PSAK No. 4 on “Consolidated Financial Statements”, the losses applicable to the minority in a consolidated subsidiary may exceed the minority interest in the equity of the subsidiary. The excess, and any further losses applicable to the minority, are charged against the majority interest except to the extent that minority has a binding obligation to, and is able to, make good the losses. If the subsidiary subsequently reports profits, the majority interest is allocated all such profits until the minority’s share of losses previously absorbed by the majority has been recovered.

Goodwill

ii.

Goodwill merupakan selisih lebih antara harga perolehan investasi dan nilai wajar bagian Bank atas aktiva bersih anak-anak perusahaan/perusahaan asosiasi pada tanggal akuisisi. Kerugian yang menjadi bagian dari pemegang saham minoritas pada suatu anak Perusahaan yang melebihi bagiannya dalam modal disetor pada tanggal akuisisi, diperhitungkan sebagai bagian dari goodwill. Goodwill diamortisasi dengan metode garis lurus

Goodwill Goodwill represents the difference between the acquisition cost of an investment and the Bank’s portfolio of the fair value of the net assets of the subsidiary/associate company as at date of acquisition. The losses applicable to the minority in a consolidated subsidiary that exceed the minority interest in the equity of the subsidiary at the acquisition date, calculated as part of goodwill. Goodwill is amortized over its useful life,

21




2.


Akuntansi Bank dan Anak-anak Perusahaan (lanjutan) ii.

c.

2.

b. Bank and (continued)

Goodwill (lanjutan)

ii.

Accounting

Goodwill (continued) which is 5 - 15 (five to fifteen) years. Management determines the estimated useful life of the goodwill based on the evaluation of the related company at the acquisition date, by taking into consideration factors such as existing market share, potential growth, and other factors in the acquired company.

Saldo goodwill yang belum diamortisasi harus dievaluasi pada setiap tanggal neraca, dan apabila terdapat indikasi bahwa jumlah tersebut tidak dapat sepenuhnya atau sebagian dipulihkan (recovered) dari ekspektasi manfaat keekonomian di masa mendatang, maka bagian jumlah yang tidak dapat dipulihkan tersebut langsung dibukukan sebagai beban pada periode yang bersangkutan. Setiap penurunan nilai (write-down) goodwill tidak boleh dinaikkan (write-up) kembali pada periode selanjutnya.

The unamortized balance of goodwill should be reviewed at each balance sheet date and, if there is an indication that the amount cannot be fully or partly recovered from the expected future economic benefits, then the unrecoverable amount should be recognized immediately as an expense. Any write-down of goodwill should not be reversed in a subsequent period.

c. Foreign Currency Translations

Mata Uang Pelaporan

i.

Laporan keuangan konsolidasian dijabarkan dalam mata uang Rupiah, yang merupakan mata uang pelaporan Bank dan anak-anak perusahaan. ii.

Subsidiaries’

selama estimasi masa manfaatnya yaitu 5 - 15 (lima sampai dengan lima belas) tahun. Manajemen menentukan estimasi masa manfaat goodwill berdasarkan evaluasi atas perusahaan bersangkutan pada saat akuisisi, dengan mempertimbangkan faktor-faktor seperti pangsa pasar yang ada tingkat pertumbuhan potensial dan faktor lain yang terdapat dalam perusahaan yang diakuisisi.

Penjabaran Mata Uang Asing i.


Reporting Currency The consolidated financial statements are presented in Rupiah, which is the reporting currency of the Bank and subsidiaries.

Transaksi dan Saldo

ii.

Transaksi dalam mata uang asing dijabarkan ke mata uang Rupiah dengan menggunakan kurs pada tanggal-tanggal transaksi tersebut. Pada tanggal neraca, aktiva dan kewajiban moneter dalam mata uang asing dijabarkan dengan kurs yang berlaku pada tanggal neraca.

Transactions and Balances Transactions denominated in a foreign currency are converted into Rupiah using the spot rate at those transaction dates. At the balance sheet date, monetary assets and liabilities in foreign currencies are translated at the exchange rates prevailing at that date.

22




2.

KEBIJAKAN AKUNTANSI (lanjutan) c.

Penjabaran Mata Uang Asing (lanjutan) ii.

ii.

Transactions (continued)

and

Balances

Keuntungan dan kerugian selisih kurs yang timbul dan transaksi dalam mata uang asing dan dari penjabaran aktiva dan kewajiban moneter dalam mata uang asing diakui pada laporan laba rugi konsolidasian, kecuali apabila ditangguhkan pada bagian ekuitas sebagai lindung nilai arus kas yang memenuhi syarat.

Exchange gains and losses arising on transactions in foreign currency and on the translation of foreign currency monetary assets and liabilities are recognized in the consolidated statement of income, except when deferred in equity as qualifying cash flow hedges.

Selisih penjabaran mata uang asing atas efek utang dan aktiva moneter keuangan lain yang diukur berdasarkan nilai wajar dicatat sebagai bagian dari keuntungan dan kerugian selisih kurs. Selisih penjabaran mata uang asing atas aktiva non-moneter seperti efek yang diperdagangkan dilaporkan sebagai bagian dari keuntungan atau kerugian nilai wajar.

Translation differences on debt marketable securities and other monetary financial assets measured at fair value are included in foreign exchange gains and losses. Translation differences on non-monetary items such as securities held for trading are reported as part of the fair value gain or loss.

Berikut ini adalah kurs mata uang asing utama yang digunakan untuk penjabaran pada tanggal 31 Desember 2008, 2007, dan 2006.

Below are the major exchange rates used for translation as at December 31, 2008, 2007, and 2006:

Dolar Amerika Serikat Dolar Australia Dolar Hong Kong Euro Dolar Singapura Yen Ringgit Malaysia Poundsterling

10.900,00 7.554,26 1.406,44 15.356,48 7.587,91 120,65 3.148,03 15.755,42

2007 9.393,00 8.265,84 1.204,08 13.821,80 6.532,90 83,84 2.840,77 18.760,64

Kas dan Setara Kas

2006 9.003,00 7.117,83 1.157,71 11.846,25 5.867,89 75,63 2.550,05 17.616,19

United States Dollar Australian Dollar Hong Kong Dollar Euro Singapore Dollar Yen Malaysian Ringgit Poundsterling

d. Cash and Cash Equivalents

Untuk tujuan penyajian laporan arus kas, kas dan setara kas terdiri atas kas, giro pada Bank Indonesia dan giro pada bank lain yang tidak dijaminkan atau dibatasi penggunaanya.

e.

ACCOUNTING POLICIES (continued) c. Foreign Currency Translations (continued)

Transaksi dan Saldo (lanjutan)

2008

d.

2.

For cash flows presentation purposes, cash and cash equivalents consists of cash, current account with Bank Indonesia and current accounts with other banks, which are not pledged as collateral or restricted for use.

Giro pada Bank Indonesia dan Bank Lain

e. Current Accounts with Bank Indonesia and Other Banks

Giro pada BI dinyatakan sebesar saldo giro.

Current accounts with BI are stated at their outstanding balances.

Giro pada bank lain dinyatakan sebesar saldo giro dikurangi dengan penyisihan kerugian.

Current accounts with other banks are stated at their outstanding balance net of allowance for losses.

23




2.

KEBIJAKAN AKUNTANSI (lanjutan) f.

g.

2.


Penempatan pada Bank Indonesia dan Bank Lain

f. Placements with Bank Indonesia and Other Banks

Penempatan pada BI dinyatakan sebesar saldo penempatan dikurangi dengan pendapatan bunga yang ditangguhkan.

Placements with BI are stated at the outstanding balances net of unearned interest incomes.

Penempatan pada bank lain dinyatakan sebesar saldo penempatan dikurangi dengan penyisihan kerugian aktiva yang dibentuk berdasarkan penelaahan terhadap kolektibilitas dan masing-masing saldo penempatan pada bank lain.

Placements with other banks are stated at the outstanding balances, net of allowance for losses, which is determined based on evaluation of the collectibility of each placement with other banks.

Surat-surat Berharga

g. Marketable Securities

Surat-surat berharga terdiri dari Sertifikat Bank Indonesia (SBI), wesel ekspor, efek hutang Iainnya, dan obligasi korporasi yang diperdagangkan di bursa efek.

Marketable securities consist of Bank Indonesia Certificates (SBI), trading export bills, debt marketable securities, and corporate bonds traded on the stock exchange.

Termasuk dalam surat-surat berharga adalah obligasi yang diterbitkan oleh Pemerintah yang tidak berhubungan dengan program rekapitalisasi Bank seperti surat utang negara dan Obligasi Pemerintah dalam mata uang asing. ObIigasi tersebut diterbitkan oleh Pemerintah dan diperoleh melalui pasar perdana dan sekunder.

Included in marketable securities are bonds issued by the Government that are not related in the Bank’s recapitalization program such as treasury bonds and foreign currency Government Bonds. These bonds are issued by the Government and are obtained through both primary and secondary markets.

Surat-surat berharga diklasifikasikan ke dalam kelompok untuk diperdagangkan, tersedia untuk dijual atau dimiliki hingga jatuh tempo.

Marketable securities are classified as either trading, available-for-sale or held-to-maturity.

Surat-surat berharga yang diklasifikasikan ke dalam kelompok untuk diperdagangkan (“trading”) disajikan sebesar nilai wajarnya. Keuntungan atau kerugian yang belum direalisasi akibat kenaikan atau penurunan nilai wajarnya disiapkan dalam laporan laba rugi konsolidasian tahun berjalan. Atas penjualan portofolio efek untuk diperdagangkan, perbedaan antara harga jual dengan nilai wajar per buku diakui sebagai keuntungan atau kerugian terealisasi dari penjualan.

Marketable securities classified as trading are stated at fair value. The unrealized gains or losses resulting from the increase or decrease in fair value are recognized in the current years consolidated statement of income. Upon sale of trading portfolio marketable securities, the difference between selling price and fair value per books is recognized as a realized gain or loss on sale.

24




2.

KEBIJAKAN AKUNTANSI (lanjutan) g.

2.

Surat-surat Berharga (lanjutan)


g. Marketable Securities (continued)

Surat-surat berharga yang diklasiflkasikan ke dalam kelompok tersedia untuk dijual (”available-for-sale”) disajikan sebesar nilai wajarnya. Keuntungan atau kerugian yang belum direalisasi akibat kenaikan atau penurunan nilai wajarnya setelah dikurangi pajak diakui dan dicatat sebagai komponen ekuitas. Selisih antara harga jual dan nilai tercatat diakui sebagai keuntungan atau kerugian pada tahun dimana surat berharga tersebut dijual. Keuntungan atau kerugian yang belum direalisasi dari surat-surat berharga tersedia untuk dijual tersebut setelah dikurangi pajak yang tercatat dalam ekuitas diakui sebagai penghasilan atau beban pada tahun dimana surat berharga tersebut dijual.

Marketable securities classified as availablefor-sale are stated at fair value. Unrealized gains or losses from the increase or decrease in fair value, net of tax, are recognized and presented as an equity component. The difference between the selling price and the carrying value of the marketable securities is recognized as income or expense of the year when realized. The unrealized gains or losses, net of tax, of the available-for-sale marketable securities recorded in equity are recognized as income or expense of the year when realized.

Surat-surat berharga yang diklasikasikan ke dalam kelompok dimiiki hingga jatuh tempo (“held-to-maturity”) disajikan sebesar biaya perolehan yang disesuaikan dengan premi dan/atau diskonto yang belum diamortisasi. Premi atau diskonto diamortisasi dengan rnenggunakan metode garis lurus. Bila terjadi penurunan nilai wajar di bawah biaya perolehan (termasuk amortisasi premi dan/atau diskonto) yang bersifat permanen, maka biaya perolehan surat berharga yang bersangkutan diturunkan sebesar nilai wajarnya dan jumlah penurunan nilai tersebut dibebankan pada laba rugi konsolidasian tahun berjalan.

Marketable securities classified as held-tomaturity are stated at cost adjusted for unamortized premium or discount. Premium or discount are amortized using the straight-line method. If it is probable that the cost (including amortization of premium and/or discount) of such marketable securities will not be fully recovered, a permanent diminution in value is considered to have occurred and the individual security is written down to its fair value. Any such write-down is recognized as loss in the current year consolidated statement of income.

Untuk surat-surat berharga yang diperdagangkan secara aktif di pasar keuangan yang terorganisasi, nilai wajar tersebut umumnya ditentukan dengan mengacu pada harga penawaran pasar yang terjadi di bursa efek pada tanggal yang terdekat dengan tanggal neraca. Untuk surat-surat berharga yang tidak mempunyai harga penawaran pasar estimasi atas nilai wajar surat-surat berharga ditetapkan dengan mengacu pada nilai wajar instrumen lain yang memiliki substansi yang sama atau dihitung berdasarkan arus kas yang diharapkan terhadap aktiva bersih surat-surat berharga tersebut.

For marketable securities which are actively traded in organized financial markets, fair value is generally determined by reference to quoted market bid prices by the stock exchanges at the close of business on the balance sheet date. For marketable securities where there is no quoted market price, a reasonable estimate of the fair value is determined by reference to the current market value of another instrument which is substantially the same or is calculated based on the expected cash flows of the underlying net assets base of marketable securities.

25




2.

KEBIJAKAN AKUNTANSI (lanjutan) g.

h.

2.

Surat-surat Berharga (lanjutan)


g. Marketable Securities (continued)

Pemindahan surat berharga antar kelompok diakui sebesar nilai wajar pada tanggal pemindahan. Untuk surat berharga yang dipindahkan dari kelompok diperdagangkan, laba atau rugi yang belum direalisasi pada tanggal transfer telah tercatat sebagai penghasilan dan oleh karena itu tidak boleh dihapus

The transfer of a marketable security between categories of investments shall be accounted for at fair value at the date of the transfer. For a marketable security transferred from the trading category, the unrealized holding gain or loss at the date of the transfer will have already been recognized in earnings and shall not be reversed.

Penyisihan kerugian aktiva dan perubahan nilai pasar disajikan sebagai penambah/pengurang terhadap surat-surat berharga.

Allowance for losses and changes in fair value are presented as additions/deductions from the outstanding balance of marketable securities.

Surat-surat Berharga yang Dibeli dengan Janji Dijual Kembali dan Surat-surat Berharga yang Dijual dengan Janji Dibeli Kembali

h. Marketable Securities Purchased with Agreements to Resell and Marketable Securities Sold with Agreements to Repurchase

Surat-surat berharga yang dibeli dengan janji dijual kembali disajikan sebesar harga jual kembali surat berharga yang bersangkutan dikurangi amortisasi pendapatan bunga yang belum direalisasikan. Selisih antara harga beli dan harga jual kembali surat berharga diakui sebagai pendapatan bunga yang ditangguhkan. Pendapatan bunga yanq ditangguhkan diakui sebagai pendapatan dan diamortisasi selama jangka waktu sejak surat berharga dibeli hingga dijual kembali.

Marketable securities purchased with agreements to resell are presented at their resale price less unamortized interest income. The difference between the purchase price and the selling price is recognized as deferred interest income. Deferred interest income is recognized as income and amortized during the period from the purchase of marketable securities to the date of resale.

Surat berharga yang dijual dengan janji dibeli kembali disajikan sebagai kewajiban sebesar harga pembelian kembali yang disepakati dikurangi bunga dibayar dimuka yang belum diarmortisasi. Bunga dibayar dimuka merupakan selisih antara harga jual dan harga beli kembali surat berharga, diperlakukan sebagai bunga dibayar dimuka dan diakui sebagai beban bunga sesuai dengan jangka waktu sejak surat berharga tersebut dijual hingga dibeli kembali. Surat berharga yang dijual tetap dicatat sebagai aktiva dalam neraca karena secara substansi kepemilikan surat berharga tetap berada pada pihak Bank sebagai penjual.

Marketable securities sold with agreements to repurchase are recognized as liability at the agreed purchase price, reduced by the balance of amortized prepaid interest. The difference between the selling price and the repurchase price is treated as prepaid interest which is recognized as interest expense over the period from the sale of the marketable securities up to the time of repurchase. The marketable securities sold are recorded as assets on the consolidated balance sheet because in substance the ownership of the marketable securities remains with the Bank as the seller.

26




2.

KEBIJAKAN AKUNTANSI (lanjutan) i.

j.

2.

Instrumen Derivatif

ACCOUNTING POLICIES (continued) i.

Derivative Instruments

Instrumen keuangan derivatif (termasuk transaksi mata uang asing untuk tujuan pendanaan dan perdagangan) diakui sebesar nilai wajar pada neraca. Nilai wajar ditentukan berdasarkan harga pasar model penentuan harga atau harga pasar instrumen lain yang memiliki karakteristik serupa. Derivatif dicatat sebagai aktiva apabila memiliki nilai wajar positif dan sebagai kewajiban apabila memiliki niai wajar negatif.

Derivative financial instruments (including foreign currencies transactions for funding and trading) are recognized in the balance sheet at their fair value. Fair value is determined based on market value, pricing models or quoted prices of other instruments with similar characteristics. Derivatives are tamed as assets when the fair value is positive and liabilities when the fair value is negative.

Keuntungan atau kerugian yang terjadi dari perubahan nilai wajar kontrak derivatif yang tidak ditujukan untuk lindung nilai (atau tidak memenuhi kriteria untuk dapat klasifikasikan sebagai lindung nilai) diakui dalam laporan laba rugi konsolidasian tahun berjalan.

Gain or loss as a result of fair value changes on a derivative contract not designated as a hedging instrument (or derivative contract that does not qualify as a hedging instrument) is recognized in current year consolidated statement of income.

Kredit yang Diberikan

j.

Loans

Kredit yang diberikan dinyatakan sebesar saldo kredit bruto dikurangi dengan penyisihan kerugian aktiva yang dibentuk berdasarkan penelaahan terhadap kolektibilitas dari kredit yang diberikan.

Loans are stated at the gross amount of their outstanding balance, less allowance for losses when is determined based on evaluation of the collectibility of each loan.

Kredit sindikasi, kredit dalam rangka pembiayaan bersama, dan penerusan dinyatakan sebesar pokok kredit sesuai dengan porsi risiko yang ditanggung oleh Bank dan anak-anak perusahaan.

Syndicated, joint financing, and channeling loans are stated at the loan principal amount based on the risk participation by the Bank and its subsidiaries.

Restrukturisasi Kredit

Loan Restructuring

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 dengan nilai tunai penerimaan kas masa depan setelah restrukturisasi diakui dalam laporan laba rugi konsolidasian. Setelah restrukturisasi semua penerimaan kas masa depan yang ditetapkan dalam persyaratan baru dicatat sebagai pengembalian pokok kredit yang diberikan dan penghasilan bunga secara proporsional.

Restructured loans are stated at the lower of carrying value of the loan at the time of restructuring or net present 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 consolidated statement of income. Thereafter, all cash receipts under the new terms shall be accounted for as the recovery of principal and interest revenue, proportionately.

27




2.

KEBIJAKAN AKUNTANSI (lanjutan) j.

k.

2.

Kredit yang Diberikan (lanjutan)

ACCOUNTING POLICIES (continued) j.

Loans (continued)

Kerugian dari restrukturisasi kredit dengan cara konversi sebagian kredit yang diberikan menjadi saham atau instrumen keuangan Iainnya, diakui hanya apabila nilai wajar penyertaan saham atau instrumen keuangan yang diterima dikurangi estimasi beban untuk menjualnya adalah kurang dari nilai tercatat kredit yang diberikan.

Loss on loan restructuring which involves a conversion of loans into equity or other financial instruments in partial satisfaction of loans, is recognized only if the fair value of the equity or financial instruments received, reduced by estimated expenses to sell the equity or other financial instruments, is less than the carrying value of the loan.

Tunggakan bunga yang dikapitalisasi menjadi pokok tagihan dalam perjanjian kredit yang baru dalam rangka restrukturisasi dicatat sebagai pendapatan bunga yang ditangguhkan (deferred interest income) dan diamortisasi secara proporsional berdasarkan nilai bunga yang dikapitaIisasi terhadap pokok kredit baru pada saat pembayaran kredit diterima.

Overdue interest that is capitalized to loan principal under new restructuring agreements is recorded as deferred interest income and is amortized proportionately based on the amount of capitalized interest relative to the loan principal upon loan repayment.

Kredit yang diberikan dihapusbukukan ketika tidak terdapat prospek yang realistis mengenai pengembalian kredit atau hubungan normal antara Bank dan debitur telah berakhir. Kredit yang tidak dapat dilunasi dihapusbukukan dengan mendebet penyisihan kerugian. Pelunasan kemudian atas kredit yang telah dihapusbukukan sebelumnya dikreditkan ke penyisihan kerugian kredit di neraca konsolidasian.

Loans are written-off when there is no realistic prospect of collection or when Bank’s normal relationship with the borrowers has ceased to exist, when loans are deemed uncollectible they are written-off against the related allowance for losses. Subsequent recoveries are credited to the allowance for losses in the consolidated balance sheets.

Pembiayaan/Piutang Syariah

k. Sharia Financing/Receivables

Termasuk dalam pembiayaan/piutang Syariah adalah pembiayaan mudharabah, piutang syariah, dan pembiayaan musyarakah.

Included in Sharia financing/receivables are mudharabah financing, sharia receivables, and musyarakah financing.

Piutang Syariah adalah tagihan yang timbul dari transaksi berdasarkan akad-akad murabahah, istishna, dan qardh.

Sharia receivables resulted for transactions based on murabahah, istishna, and qardh.

Istishna merupakan akad penjualan antara nasabah dan produsen yang bertindak sebagai penjual. Bank membiayai nasabah untuk membeli barang dari produsen (penjual). Cara pembayaran dapat berupa pembayaran dimuka, cicilan atau ditangguhkan sampai jangka waktu tertentu.

Istishna is a sales transaction between customer and producer who acts as seller. Bank finance customer to buy from producer (seller). Payment method may be in advance, installment or deferred until certain period.

Qardh merupakan penyediaan dana atau tagihan yang dapat dipersamakan dengan itu berdasarkan persetujuan atau kesepakatan antara nasabah dan Bank, dengan ketentuan wajib untuk melunasi setelah jangka waktu tertentu.

Qardh is a fund supply or receivables which can be equalised with it based on approval or agreement between customer and Bank, with requirement to repayment after certain period.

28




2.

KEBIJAKAN AKUNTANSI (lanjutan) k.

l.

2.

Pembiayaan/Piutang Syariah (lanjutan)

ACCOUNTING POLICIES (continued) k. Sharia Financing/Receivables (continued)

Pembiayaan mudharabah merupakan pembiayaan kerjasama antara Bank sebagai pemilik dana dengan nasabah sebagai pelaksana usaha. Pembagian hasil keuntungan dari proyek atau usaha tersebut dilakukan sesuai dengan nisbah (pre-determined ratio) yang telah disepakati bersama. Pembiayaan mudharabah dinyatakan sebesar saldo pembiayaan dikurangi dengan saldo penyisihan kerugian.

Mudharabah financing represents joint financing between the Bank as a fund owner and customer as a business executor. Revenue sharing on the project or business is conducted in accordance with the agreed nisbah (predetermined ratio). Mudharabah financing are stated at their outstanding balance net of allowance for losses.

Piutang murabahah merupakan akad jual beli antara nasabah dan Bank. Bank membiayai kebutuhan investasi nasabah yang dinilai dengan harga pokok ditambah dengan keuntungan yang disepakati bersama. Pembayaran atas piutang ini dilakukan dengan cara mengangsur dalam jangka waktu yang ditentukan. Piutang murabahah dinyatakan sebesar saldo piutang dikurangi dengan pendapatan marjin yang ditangguhkan dan saldo penyisihan kerugian.

Murabahah receivables represent sale and purchase agreements between the borrowers and the Bank. The borrowers investments are funded by the Bank with add-on profit agreed by both parties. The financing facilities are repaid in installments over a certain period of time. Murabahah receivables are stated at their outstanding balance, net of deferred margin and allowance for losses.

Pembiayaan musyarakah adalah akad kerjasama yang terjadi diantara para pemilik modal (mitra musyarakah) untuk menggabungkan modal dan melakukan usaha secara bersama dalam suatu kemitraan dengan nisbah pembagian hasil atau kerugian sesuai dengan kesepakatan atau secara proposional sesuai kontribusi modal.

Musyarakah financing is an agreement between the investors (musyarakah partner) to have a joint-venture in a partnership) with profit or loss sharing based on an agreement or proportionate capital contribution.

Piutang Pembiayaan Konsumen

l.

Consumer Financing Receivables

Piutang pembiayaan konsumen anak-anak perusahaan merupakan jumlah piutang setelah dikurangi dengan pendapatan pembiayaan konsumen yang belum diakui dan penyisihan kerugian piutang.

Subsidiary consumer financing receivables are presented net of unearned consumer financing income and allowance for losses.

Pendapatan pembiayaan konsumen yang belum diakui yang merupakan selisih antara jumlah keseluruhan pembayaran angsuran yang akan diterima dari konsumen dengan jumlah pokok pembiayaan konsumen diakui sebagai pendapatan sesuai dengan jangka waktu kontrak pembiayaan konsumen berdasarkan tingkat pengembalian berkala yang tetap dari piutang pembiayaan konsumen.

Unearned income on consumer financing, which is the excess of the aggregate installment payments to be received from the consumer over the principal amount financing, is recognized as income over the term of the respective agreement at a constant periodic rate of return on the net consumer financing receivables.

29




2.

KEBIJAKAN AKUNTANSI (lanjutan) l.

2.

Piutang Pembiayaan Konsumen (lanjutan)

l.

Consumer (continued)

Financing

Receivables

Pendapatan pembiayaan konsumen disajikan bersih setelah dikurangi dengan bagian yang merupakan hak bank-bank dalam rangka transaksi tersebut.

The consumer financing income is presented net of amounts of the banks rights on such income relating to the transaction.

Selisih bersih antara pendapatan administrasi yang diperoleh dari konsumen pada saat pertama kali perjanjian pembiayaan konsumen ditandatangani dan beban-beban yang timbul pertama kali yang terkait langsung dengan tagihan pembiayaan konsumen ditangguhkan dan diakui sebagai penyesuaian atas imbal hasil pembiayaan konsumen selama jangka waktu pembiayaan konsumen dan disajikan sebagai bagian dari Pendapatan Pembiayaan Konsumen - Bersih di dalam Pendapatan Bunga pada laporan laba rugi konsolidasian tahun berjalan.

The net difference between the administration income earned from the consumer at the first time the financing agreement is signed and initial incremental costs directly related to consumer financing facility is deferred and recognized as an adjustment to the yield received through out the consumer financing period and presented as a part of Net Consumer Financing Revenue under Interest Revenue in the consolidated statement of income for the current year.

m. Tagihan dan Kewajiban Akseptasi

n.


m. Acceptance Receivables and Payables

Tagihan dan kewajiban akseptasi dinyatakan sebesar nilai nominal Letters of Credit (L/C) atau nilai realisasi L/C yang di aksep oleh bank pengaksep (accepting bank).

Acceptance receivables and payables are stated at nominal amount of the Letters of Credit (L/C) or at the realizable value of the L/C that has been accepted by the accepting bank.

Penyisihan kerugian disajikan sebagai pengurang dari akun tagihan akseptasi.

Acceptance receivables are presented net of allowance for losses.

Penyisihan Kerugian Aktiva Produktif dan Non-Produktif dan Estimasi atas Kerugian Komitmen dan Kontinjensi

n.

Aktiva produktif terdiri dari giro pada bank lain, penempatan pada BI dan bank lain, surat-surat berharga, surat-surat berharga yang dibeli dengan janji dijuaI kembali, tagihan derivatif, kredit yang diberikan, tagihan akseptasi, penyertaan serta komitmen dan kontinjensi yang mempunyai risiko kredit.

Allowance for Losses on Earning and NonEarning Assets and Estimated Losses on Commitments and Contingencies Earning assets include current accounts with other banks, placements with BI and other banks, marketable securities, securities purchased under resale agreements, derivative receivables, loans, acceptance receivables, investments and commitments and contingencies which carry credit risk.

30




2.

KEBIJAKAN AKUNTANSI (lanjutan) n.

2.

Penyisihan Kerugian Aktiva Produktif dan Non-Produktif dan Estimasi atas Kerugian Komitmen dan Kontinjensi (lanjutan)

n.

Penyisihan kerugian atas aktiva produktif ditentukan berdasarkan kriteria BI sesuai dengan Peraturan BI No. 7/2/PBI/2005 tanggal 20 Januari 2005 tentang Penilaian Kualitas Aktiva Bank Umum yang diubah dengan Peraturan BI No. 8/2/PBI2006 tanggal 30 Januari 2006 dan Peraturan BI No. 9/6/PBI/2007 tanggal 30 Maret 2007 yang mengklasifikasikan aktiva produktif menjadi lima kategori dangan persentase penyisihan kerugian sebagai berikut: Klasifikasi

ACCOUNTING POLICIES (continued) Allowance for Losses on Earning and NonEarning Assets and Estimated Losses on Commitments and Contingencies (continued) The allowance for losses on earning assets have been determined using BI criteria in accordance with BI Regulation No. 7/2/PBI/2005 dated January 20, 2005 on Asset Quality Ratings for Commercial Bank’s which was amended by BI Regulation No. 8/2/PBI/2006 dated January 30, 2006 and BI Regulation No. 9/6/PBI/2007 dated March 30, 2007 that classifying earning assets into five categories with the percentage of allowance for losses as follows:

Persentase minimum penyisihan kerugian/ Minimum percentage of allowance for losses

Lancar Dalam perhatian khusus Kurang lancar Diragukan Macet

1% 5% 15% 50% 100%

Classification Current Special mention Sub-standard Doubtful Loss

Persentase di atas berlaku untuk aktiva produktif dan komitmen dan kontinjensi, dikurangi nilai agunan, kecuali untuk aktiva produktif dan komitmen dan kontinjensi yang dikategorikan sebagai lancar, dimana persentasenya berlaku Iangsung atas saldo aktiva produktif dan komitmen dan kontinjensi yang bersangkutan. Untuk aktiva produktif yang digolongkan lancar, dan dijamin dengan agunan tunai berupa giro, deposito, tabungan setoran jaminan, emas, SBI atau Surat Utang Negara (Obligasi Pemerintah dan Obligasi Rekapitalisasi Pemerintah), jaminan Pemerintah sesuai dengan peraturan perundang-undangan yang berlaku, standby L/C dari prime bank, yang diterbitkan sesuai dengan Uniform Customs and Practice for Documentary Credit (UCP) atau International Standard Practices (ISP) yang berlaku, persentase di atas berlaku atas saldo aktiva produktif setelah dikurangi agunan.

The above percentages are applied to earning assets and commitments and contingencies, less the collateral value except for earning assets and commitments and contingencies categorized as current, where the rates are applied directly to the outstanding balance of earning assets and commitments and contingencies. For earning assets classified as current and guaranteed with cash collateral such as demand deposits, time deposits, saving deposits, securities deposits, gold, BI certificates or Government debentures (Government Bonds and Recapitalization Bonds), guarantees of the Government in accordance with laws and regulations, and standby L/C from prime banks and those issued in accordance with the Uniform Customers and Practice for Documentary Credit (UCP) or International Standards Practices (ISP), the above percentage is applied to earning assets balance less collateral value.

Aktiva produktif dengan klasifikasi lancar dan dalam perhatian khusus, sesuai dengan peraturan BI, digolongkan sebagai aktiva produktif tidak bermasalah. Sedangkan untuk aktiva produktif dengan kolektibilitas kurang lancar, diragukan, dan macet digolongkan sebagai aktiva produktif bermasalah.

Earning assets classified as current and special mention, in accordance with BI regulations, are considered performing. Non-performing earning assets consist of assets classified as substandard, doubtful, and loss.

31




2.


2.


Penyisihan kerugian kredit penyisihan khusus dan umum.

terdiri

ACCOUNTING POLICIES (continued) n.

Allowance for Losses on Earning and NonEarning Assets and Estimated Losses on Commitments and Contingencies (continued)

dari

The allowance for loan losses consists of specific and general provisions.

Penyisihan khusus terhadap kredit bemasalah dihitung berdasarkan kemampuan debitur dalam membayar kewajiban dan kecukupan jaminan.

Specific provisions for non-performing loans are calculated based on the borrowers debt servicing capacity and adequacy of collateral.

Penyisihan khusus dibuat jika kemampuan membayar diidentifikasikan kurang baik dan menurut pertimbangan Direksi, estimasi kemampuan membayar peminjam berada di bawah jumlah pokok dan bunga kredit yang belum terbayar.

Specific provisions are made as soon as the debt servicing of the loan is questionable and the Directors consider that the estimated recovery from the borrower is likely to fall short of the amount of principal and interest outstanding.

Penyisihan umum dimaksudkan untuk menyisihkan kerugian yang belum teridentifikasi namun diperkirakan mungkin terjadi berdasarkan pengalaman masa lalu dan keseluruhan portofolio kredit. Termasuk dalam penyisihan umum adalah penyisihan 1% seperti yang dikehendaki oleh peraturan BI untuk aktiva produktif dengan klasifikasi lancar.

General provisions are maintained for losses that are not yet identified but can reasonably be expected to arise based on historical experience, from the existing overall loon portfolio. Included in the general provision is the 1% provision required under BI regulations for earning assets classified as current.

Penyisihan kerugian atas komitmen dan kontinjensi disajikan sebagai kewajiban di neraca konsolidasian.

Allowances for losses on commitments and contingencies are presented in the liability section of the consolidated balance sheet.

Penyisihan kerugian atas penyertaan sementara ditentukan berdasarkan kriteria yang ditetapkan oleh BI sesuai dengan Peraturan BI No. 5/10/PBI/2003 tanggal 11 Juni 2003 tentang Prinsip Kehati-hatian dalam Kegiatan Penyertaan Modal yang dipertegas dengan Peraturan BI No. 7/2/PBI/2005 tanggal 20 Januari 2005 yang kemudian diubah dengan Peraturan BI No. 8/2/PBI/2006 tanggal 30 Januari 2005 yang mengklasifikasikan penyertaan sementara dalam rangka debt to equity swaps dan penyertaan sementara dari jenis transaksitransaksi tertentu yang berakibat dimiliki atau akan dimilikinya saham perusahaan debitur, menjadi empat kategori dengan persentase penyisihan kerugian sebagai berikut:

The allowance for losses on temporary investments has been determined using BI criteria in accordance with BI Regulation No. 5/10/PBI/2003 dated June 11, 2003 on Prudential Principles in Investment Activities which was reinforced by BI Regulation No. 7/2/PBI/2005 dated January 20, 2005 and further amended by BI Regulation No. 8/2PBI/2006 dated January 30, 2006 that classifies temporary in investment from debt to equity swaps and temporary investments from certain types of transactions that resulted in or will result in the ownership in debtor’s company, into four categories with the percentage of allowance for losses as follows:

32




2.


2.


Klasifikasi Lancar Kurang lancar Diragukan Macet

ACCOUNTING POLICIES (continued) n.

Allowance for Losses on Earning and NonEarning Assets and Estimated Losses on Commitments and Contingencies (continued)

Batas waktu sejak pengambilalihan/ Period since acquisition Kurang dari 1 tahun/Less than 1 year 1 - 4 tahun/years 4 - 5 tahun/years Apabila penyertaan modal sementara belum ditarik kembali setelah 5 tahun meskipun debitur telah mencatat laba kumulatif pada saat itu/ If the temporary investment has not been liquidated after 5 years irrespective that the investee has already posted an accumulated profit at that time

Classification Current Sub-standard Doubtful Loss

Sejak 20 Januari 2006, sesuai dengan Peraturan BI No 8/2/PBI/2006 tanggal 30 Januari 2006, bank-bank juga wajib melakukan pembentukan penyisihan kerugian khusus terhadap aktiva non-produktif seperti agunan yang diambil alih, properti terbengkalai, rekening antar kantor, dan suspense account.

Starting from January 20, 2006, in accordance with BI Regulation No. 8/2/PBI/2006 dated January 30, 2006, banks are also required to make a special allowance for losses on nonearning assets, such as foreclosed assets, abandoned properties, inter-branch accounts, and suspense accounts.

Dalam peraturan tersebut, klasifikasi agunan yang diambil alih dan properti terbengkalai ditetapkan sebagai berikut:

This regulation classifies foreclosed assets and abandoned properties into the following classification: Batas waktu/ Period

Klasifikasi Lancar Kurang lancar Diragukan Macet

Sampai dengan 1 tahun/Up to 1 year Lebih dari 1 tahun sampai dengan 3 tahun/ More than 1 year up to 3 years Lebih dari 3 tahun sampai dengan 5 tahun/ More than 3 years up to 5 years Lebih dari 5 tahun/More than 5 years

Klasifikasi untuk rekening antar kantor dan suspense account ditetapkan sebagai berikut: Klasifikasi Lancar Macet

Classification Current Sub-standard Doubtful Loss

The classification for inter-branch accounts and suspense accounts are as follows: Batas waktu/ Period

Sampai dengan 180 hari/Up to 180 days Lebih dari 180 hari/More than 180 days

33

Classification Current Loss




2.

KEBIJAKAN AKUNTANSI (lanjutan) o.

p.

2.

Penyertaan Saham

ACCOUNTING POLICIES (continued) o. Investments in Shares

Penyertaan pada Perusahaan Asosiasi

Investments in Associated Companies

Penyertaan dengan kepemilikan 20% sampai dengan 50% tanpa adanya pengaruh signifikan, baik dimiliki secara langsung maupun tidak langsung dinyatakan sebesar biaya perolehan, ditambah atau dikurangi dengan bagian laba atau rugi perusahaan asosiasi sejak perolehan sebesar persentase pemilikan, dikurangi dengan dividen yang diterima (metode ekuitas). Bila terjadi penurunan nilai yang bersifat permanen, maka nilai tercatatnya dikurangi untuk mengakui penurunan tersebut yang ditentukan untuk setiap investasi secara individu dan kerugiannya dibebankan pada laba rugi konsolidasian tahun berjalan.

Investments in shares of stock with ownership interest of 20% to 50% with no significant influence, directly or indirectly owned, are accounted for using the equity method whereby the Bank’s proportionate share in the net income or loss of the associated company after the date of acquisition is added to or deducted from, and dividends subsequently received are deducted from, the acquisition cost of the investments. The carrying amount of the investments is written down to recognize any permanent decline in value of the individual investments. Any such write down is charged directly to current year consolidated statement of income.

Penyertaan Lainnya

Other Investments

Penyertaan dalam bentuk saham dengan pemilikan kurang dari 20% yang nilai wajarnya tidak tersedia dan dimaksudkan untuk penyertaan jangka panjang dinyatakan sebesar biaya perolehan (metode biaya). Bila terjadi penurunan nilai yang bersifat permanen, nilai tercatatnya dikurangi untuk mengakui penurunan tersebut yang ditentukan untuk setiap investasi secara individu dan kerugiannya dibebankan pada laporan laba rugi konsolidasian tahun berjalan.

Investments in shares of stock with ownership interest of less than 20% that do not have readily determinable fair values and are intended for long- term investments are stated at cost (cost method). The carrying amount of the investments is written down to recognize a permanent decline in value of the individual investments. Any such write down is charged directly to current year consolidated statement of income.

Penyertaan lainnya diakui sebesar biaya perolehan dikurangi penyisihan kerugian aktiva.

All other investments are carried at cost reduced by an allowance for losses.

Aset tetap

p. Fixed assets

Efektif tanggal 1 Januari 2008, Bank menerapkan PSAK No. 16 (Revisi 2007), “Aset Tetap”, yang menggantikan PSAK No. 16 (1994), “Aset Tetap dan Aktiva Lain-lain” dan PSAK No. 17 (1994), “Akuntansi Penyusutan”, dimana Bank telah memilih model biaya. Penerapan PSAK revisi ini tidak menimbulkan dampak yang signifikan terhadap laporan keuangan Bank.

Effective January 1, 2008, the Bank applied PSAK No. 16 (Revised 2007), “Fixed Assets”, which supersedes PSAK No. 16 (1994), ”Fixed Assets and Others Assets” and PSAK No. 17 (1994), “Accounting for Depreciation”, whereby the Bank has chosen the cost model. The adoption of this revised PSAK did not have significant effect in the Bank’s financial statements.

34




2.

KEBIJAKAN AKUNTANSI (lanjutan) p.

2.

Aset tetap (lanjutan)

ACCOUNTING POLICIES (continued) p. Fixed assets (continued)

Aset tetap, kecuali tanah yang tidak disusutkan, dinyatakan berdasarkan biaya perolehan dikurangi akumulasi penyusutan. Penyusutan dihitung dengan menggunakan metode garis lurus (straight-line) berdasarkan taksiran masa manfaat ekonomis aset tetap sebagai berikut: Bangunan Prasarana bangunan Perabot dan peralatan kantor Kendaraan bermotor

Fixed assets, except land, are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method based on the estimated useful lives of the assets as follows:

Tahun/Years 20 4 4 4-8

Buildings Building improvements Furniture, fixtures, and office equipment Motor vehicles

Biaya pemeliharaan dan perbaikan dibebankan pada laporan laba rugi konsolidasian pada saat terjadinya, pemugaran dan penambahan dalam jumlah signifikan dikapitalisasi apabila kemungkinan besar Bank akan mendapatkan manfaat ekonomi masa depan dari aktiva tersebut yang melebihi standar kinerja yang diperkirakan sebelumnya. Biaya perolehan dan akumulasi penyusutan aset tetap yang sudah tidak digunakan lagi atau dijual dikeluarkan dari kelompok aset tetap yang bersangkutan dan laba atau rugi yang terjadi dilaporkan dalam laporan laba rugi konsolidasian tahun yang berjalan.

The cost of repairs and maintenance is charged to operations as incurred, significant renewals and betterments are capitalized when it is probable that future economic benefits in excess of the originally assessed standard of performance of the existing assets will flow to the Bank. When assets are retired or otherwise disposed of; their costs and the related accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in current year consolidated statement of income.

Biaya-biaya tertentu sehubungan dengan perolehan atau perpanjangan hak kepemilikan tanah ditangguhkan dan diamortisasi sepanjang umur hak atas tanah.

Certain expenses incurred in the acquisition or extension of landrights are deferred and amortized over the terms of the landrights.

Bank melakukan penelaahan pada akhir tahun untuk menentukan adanya indikasi terjadinya penurunan nilai aktiva. Bank menghitung taksiran jumlah yang dapat diperoleh kembali atas nilai semua aktiva yang dimiliki apabila terdapat situasi atau keadaan yang memberikan indikasi terjadinya penurunan nilai aktiva dan mengakuinya sebagai rugi dalam laporan laba rugi konsolidasian tahun berjalan.

The Bank conducts a review at the end of the year to determine whether there are indications of asset impairment. The Bank calculates the estimated recoverable amount of all its assets and determines if there is a decrease in the value of the assets and recognizes an impairment loss on such assets to current year consolidated statement of income.

35




2.

KEBIJAKAN AKUNTANSI (lanjutan) p.

q.

r.

2.

Aset Tetap (lanjutan)

ACCOUNTING POLICIES (continued) p. Fixed Assets (continued)

Bila nilai tercatat suatu aktiva melebihi taksiran jumlah yang dapat diperoleh kembali (estimated recoverable amount) maka nilai tercatat tersebut diturunkan ke jumlah yang dapat diperoleh kembali tersebut, yang ditentukan sebagai nilai tertinggi antara harga jual bersih dan nilai pakai.

When the carrying amount of an asset exceeds its estimated recoverable amount, the asset is written down to its estimated recoverable amount, which is determined as the higher of net selling price or value in use.

Penurunan nilai aktiva, jika ada, diakui sebagai kerugian pada laba rugi tahun berjalan.

Impairment in asset value, if any, is recognized as loss in the current year’s statement of income.

Aktiva Lain-lain

q. Other Assets

Aktiva lain-lain antara lain terdiri dari uang muka, biaya dibayar dimuka, bunga masih akan diterima, properti terbengkalai, agunan yang diambil alih, dan lain-lain.

Other assets consists of advance payments, prepaid expenses, interest receivables, abandoned properties, foreclosed assets, and others.

Agunan yang diambiI alih diakui sebesar nilai realisasi bersih. Nilai realisasi bersih adalah nilai wajar agunan yang diambil alih dikurangi dengan estimasi biaya untuk menjual agunan tersebut. Selisih lebih saldo kredit di atas nilai realisasi bersih dan agunan yang diambil alih dibebankan ke dalam akun penyisihan kerugian.

Foreclosed assets are stated at net realizable value. Net realizable value is the fair value of the foreclosed assets less estimated costs of liquidating the assets. The excess of loan receivable over the net realizable value of the foreclosed assets is charged to the allowance for losses.

Selisih antara nilai agunan yang diambil alih dan hasil penjualannya diakui sebagai keuntungan atau kerugian pada saat penjualan.

The difference between the value of the foreclosed assets and the proceed from the sale of such property is recorded as a gain or loss in the year the property is sold.

Beban-beban yang berkaitan dengan pemeliharaan agunan yang diambil alih dibebankan pada laporan laba rugi konsolidasian pada saat terjadinya.

Expenses for maintaining foreclosed assets are charged in the consolidated statement of income as incurred.

Bila terjadi penurunan nilai yang bersifat permanen, maka nilai tercatatnya dikurangi untuk mengakui penurunan tersebut dan kerugiannya dibebankan pada laba rugi tahun berjalan.

The carrying amount of the foreclosed assets is written down to recognize a permanent decline in value of the foreclosed assets. Any such since down is charged to current earnings.

Kewajiban Segera

r.

Kewajiban segera merupakan kewajiban Bank yang harus segera dibayarkan kepada pihak lain berdasarkan kontrak atau perintah dari pihak yang mempunyai kewenangan untuk itu. Kewajiban segera dinyatakan sebesar nilai kewajiban Bank.

Liabilities Immediately Payable Liabilities immediately payable represent obligations to third parties based on contract or order by those having authority that have to be settled immediately or predetermined in advance. These are stated at the amount payable by the Bank.

36




2.

KEBIJAKAN AKUNTANSI (lanjutan) s.

Simpanan Nasabah Giro dinyatakan sebesar kepada pemegang giro.

t.

u.

2.

ACCOUNTING POLICIES (continued) s. Deposits from Customers

nilai

kewajiban

Demand deposits are stated at the amount due to the demand deposit account holders.

Tabungan dinyatakan sebesar nilai kewajiban kepada pemilik tabungan.

Savings deposits are stated at the amount due to the savings account holders.

Deposito berjangka dinyatakan sebesar nilai nominal sesuai dengan perjanjian antara pemegang deposito berjangka dengan Bank.

Time deposits are stated at the nominal amount set forth in the agreements between the Bank and holders of time deposits.

Simpanan Syariah

t.

Sharia Deposits

Simpanan Syariah terdiri dari giro wadiah tabungan wadiah, dan deposito berjangka mudharabah.

Sharia deposits consist of wadiah demand deposits, wadiah savings deposits, and mudharabah time deposits.

Giro wadiah merupakan titipan dana pihak ketiga yang mendapatkan bonus berdasarkan kebijakan Bank. Giro wadiah dinyatakan sebesar titipan pemegang giro di Bank.

Wadiah demand deposits represent entrusted third party funds which earn bonus based on the Bank’s policy. Wadiah demand deposits are stated at the amounts due to the depositors.

Tabungan wadiah merupakan simpanan pihak lain yang mendapatkan bonus berdasarkan kebijakan Bank. Tabungan wadiah dinyatakan sebesar nilai investasi pemegang tabungan di Bank.

Wadiah savings deposits represent third party funds which earn bonus based on the Bank’s policy. Wadiah savings deposits are stated at the amounts due to the depositors.

Deposito berjangka mudharabah merupakan simpanan pihak lain yang hanya dapat ditarik pada waktu tertentu sesuai dengan perjanjian antara pemegang deposito dengan Bank. Deposito berjangka mudharabah dinyatakan sebesar nilai nominal.

Mudharabah time deposits represent deposits from third parties which earn revenue sharing and can be withdrawn only at specified dates based on the agreement with the depositor. Mudharabah time deposits are stated at nominal amounts.

Simpanan dari Bank Lain

u. Deposits from Other Banks

Simpanan dari bank lain terdiri dari kewajiban terhadap bank Iain, baik dalam maupun luar negeri, dalam bentuk giro, inter-bank call money yang jatuh tempo menurut perjanjian tidak lebih dari 90 hari, deposito berjangka, dan sertifikat deposito. Semuanya dinyatakan sesuai jumlah kewajiban terhadap bank lain.

Deposits from other banks represent liabilities to domestic and overseas banks, in the form of demand deposits, inter-bank call money with original maturities of 90 days or less, time deposits, and certificates of deposit. These are stated at the amount due to the other banks.

Simpanan dari bank lain termasuk simpanan Syariah dalam bentuk giro wadiah dan investasi tidak terikat yang terdiri dari deposito berjangka mudharabah.

Deposits from other banks include Sharia deposits in the form of wadiah demand deposits and unrestricted investments which comprised mudharabah time deposits.

37




2.

KEBIJAKAN AKUNTANSI (lanjutan) v.

2.

Surat-surat Berharga yang Diterbitkan

ACCOUNTING POLICIES (continued) v. Marketable Securities Issued

Surat-surat berharga yang diterbitkan merupakan kewajiban Bank dalam bentuk obligasi yang diperdagangkan di pasar modal. Obligasi dinyatakan sebesar nilai nominal. Beban emisi obligasi dibebankan seluruhnya dalam laporan laba rugi konsolidasian tahun berjalan. Perolehan kembali obligasi yang tidak dimaksudkan sebagai pelunasan diperlakukan seolah-olah telah terjadi pelunasan dalam laporan keuangan konsolidasian. Selisih antara nilai nominal obligasi dengan nilai wajar pada tanggal pembelian kembali dibebankan pada laporan laba rugi konsolidasian tahun berjalan.

Marketable securities issued represent obligations of the Bank in the form of bonds which are traded in the capital or money markets. Bonds issued by the Bank are stated at their nominal amounts. Expenses incurred in the issuance (public offering) of the bonds are charged to current year consolidated statements of income. Buy-back of bonds which are not intended as redemption is recognized and reported in the consolidated financial statements as a deduction from total bonds issued, as if the bond settlement had taken place. The difference between the nominal value of the bonds and its fair value is charged to current year consolidated statements of income.

w. Pendapatan dan Beban Bunga

w. Interest Incomes and Expenses

Pendapatan dan beban bunga diakui secara akrual, kecuali pendapatan bunga atas kredit yang diberikan dan aktiva produktif lainnya yang diklasifikasi sebagai non-performing. Pendapatan bunga tersebut diakui pada saat pendapatan tersebut diterima. Pendapatan bunga yang diakui tetapi belum tertagih harus dibatalkan pada saat kredit diklasifikasikan non-performing. Pendapatan bunga atas aktiva non-performing yang belum diterima dilaporkan sebagai tagihan kontinjensi dalam rekening administratif dan diakui sebagai pendapatan pada saat diterima tunai.

Interest incomes and expenses are recognized on an accrual basis, except for interest income on loans and other earning assets classified as non-performing. These interest incomes are recognized only when such interests are actually received. Interest income recognized or recorded but not yet received are cancelled when the loans are classified as nonperforming. Such interest incomes from nonperforming loans are recorded as contingent receivables in the administrative accounts and are recognized as income when collection of the cash is received.

Kredit yang diberikan dan aktiva produktif lainnya (tidak termasuk surat-surat berharga) diklasifikasikan sebagai non-performing jika telah masuk dalam klasifikasi kurang lancar, diragukan dan macet. Sedangkan, surat-surat berharga diklasifikasikan sebagai nonperforming jika penerbit efek tidak dapat memenuhi pembayaran bunga dan/atau pokok atau memliki peringkat paling kurang 1 (satu) tingkat di bawah peringkat investasi.

Loans and other earning assets (excluding securities ) are considered as non-performing when they are classified as sub-standard, doubtful, or loss. Securities are categorized as non-performing when the issuer of securities defaults on its interest and/or principal payments or if ther are rated no lower than 1 (one) below investment grade.

38




2.

KEBIJAKAN AKUNTANSI (lanjutan)

2.

w. Pendapatan dan Beban Bunga (lanjutan)

ACCOUNTING POLICIES (continued) w. Interest Incomes and Expenses (continued)

Seluruh penerimaan yang berhubungan dengan kredit diragukan dan macet diakui terlebih dahulu sebagai pengurang pokok kredit. Kelebihan penerimaan dari pokok kredit diakui sebagai pendapatan bunga.

Cash payments of debtors pertaining to loans classified as doubtful and loss are applied against loan principal balances, any excess is recognized as interest payment on the said loans.

Tunggakan bunga yang dikapitalisasi menjadi pokok tagihan dalam perjanjian kredit yang baru dalam rangka restrukturisasi dicatat sebagai pendapatan bunga yang ditangguhkan (deferred interest income) dan akan diakui sebagai pendapatan dengan cara amortisasi secara proporsional berdasarkan nilai bunga yang dikapitalisasi terhadap pokok kredit baru pada saat pembayaran kredit diterima.

Deferred interest that is capitalized to receivables under new restructuring agreements is recorded as deferred interest income and is amortized proportionately based in the amount of capitalized interest relative to the loan principal upon loan repayment.

Berdasarkan PBI No. 7/2/PBI/2005, yang mulai berlaku efektif sejak 20 Januari 2005, sebelum kualitas kredit yang direstrukturisasi menjadi lancar, pendapatan bunga dari kredit yang direstrukturisasi tersebut diakui apabila telah diterima secara tunai. Bank menerapkan perubahan kebijakan pengakuan pendapatan bunga untuk kredit yang direstrukturisasi secara prospektif menurut PBI No. 7/2/2005.

Based on PBI No. 7/2/2005, which became effective on January 20, 2005 before a restructured loan is classified as current, its interest income loan is recognized when received in cash. Bank applied the change in accounting policy for interest revenue recognition on restructured loans prospectively based on PBI No. 7/2/2005.

Pendapatan dan beban bunga termasuk pendapatan dan beban Syariah. Pendapatan Syariah terdiri dari bagi hasil (atas pendapatan atau laba rugi) murabahah, mudharabah, dan musyarakah. Pendapatan dari transaksi murabahah diakui dengan menggunakan metode akrual. Pendapatan dari transaksi bagi hasil dari pembiayaan mudharabah dan musyarakah diakui pada saat angsuran diterima secara tunai. Beban Syariah terdiri dari beban bagi hasil mudharabah dan beban bonus wadiah.

Interest incomes and expenses include Sharia incomes and expenses. Sharia income is earned from murabahah, mudharabah and musyarakah financing revenue or income sharing. Income from murabahah is recognized using the accrual basis, while income from mudharabah and musyarakah is recognized when cash is received as a payment of an installment. Sharia expense consists of expenses from mudharabah income sharing and wadiah bonuses.

39




2.

KEBIJAKAN AKUNTANSI (lanjutan) x.

y.

2.

Pendapatan dan Beban Provisi dan Komisi

ACCOUNTING POLICIES (continued) x. Fees and Commission Income and Expense

Penghasilan provisi dan komisi yang jumlahnya signifikan yang berkaitan langsung dengan kegiatan pemberian kredit, atau yang berhubungan dengan jangka waktu tertentu diamortisasi berdasarkan metode garis lurus sesuai dengan jangka waktu kontrak. Untuk kredit yang dilunasi sebelum jatuh temponya saldo pendapatan provisi dan komisi yang ditangguhkan diakui dalam laporan laba rugi konsolidasian pada saat kredit dilunasi.

Significant fees and commissions income directly related to lending activities, or relates to a specific period are amortized using the straight-line method over the term of the underlying contract. Unamortized fees and commissions income relating to loans settled prior to maturity are recognized to consolidated statements of income at the settlement date.

Provisi dan komisi yang tidak berkaitan dengan kegiatan perkreditan dan pinjaman yang diterima atau jangka waktu perkreditan dan pinjaman yang diterima, atau jumlahnya tidak material diakui sebagai pendapatan atau beban pada saat terjadinya transaksi.

Commissions and fees not related to loan and borrowing activities or loan and borrowing periods or not material are recognized as revenues and expenses at the time the transactions are undertaken.

Perpajakan

y. Taxation

Pajak penghasilan tangguhan dihitung dengan menggunakan metode kewajiban, terhadap semua perbedaan temporer pada tanggal neraca antara aktiva dan kewajiban menurut pajak dan nilai tercatatnya pada laporan keuangan.

Deferred income tax is provided, using the liability method, on all temporary differences at the balance sheet date between the tax base of assets and liabilities and their carrying amounts for financial reporting purposes.

Kewajiban pajak tangguhan diakui atas seluruh perbedaan temporer kena pajak. Aktiva pajak tangguhan diakui untuk perbedaan temporer yang dapat dikurangkan untuk keperluan pajak dan saldo rugi fiskal yang dapat dikompensasi, sepanjang besar kemungkinan terdapat laba kena pajak pada masa datang yang dapat dimanfaatkan atas perbedaan temporer yang dapat dikurangkan untuk keperluan pajak dan saldo rugi fiskal yang dapat dikompensasi tersebut.

Deferred tax liabilities are recognized for all taxable temporary differences. Deterred tax assets are recognized for all deductible temporary differences and carry-forward of unused tax losses, to the extent that it is probable that taxable profit will be available against which the deductible temporary differences and unused tax losses can be utilized.

Pajak tangguhan dihitung dengan menggunakan tarif pajak (dan peraturan pajak) yang berlaku atau yang secara substansial diberlakukan pada tahun dimana aktiva tersebut direalisasikan atau kewajiban tersebut diselesaikan.

Deferred tax assets and liabilities are measured at the tax rates (and tax laws) that are substantially expected to apply to the year when the asset is realized or the liability is settled.

Perubahan atas kewajiban pajak dicatat pada saat surat ketetapan pajak diterima atau, apabila diajukan keberatan dan atau banding, diakui pada saat hasil dan keberatan dan atau banding diterima.

Amendments to tax obligations are recorded when a tax assessment is received or, if appealed against, when the result of the appeal is determined.

40




2.

KEBIJAKAN AKUNTANSI (lanjutan) y.

z.

2.

Perpajakan (lanjutan)

ACCOUNTING POLICIES (continued) y. Taxation (continued)

Taksiran pajak penghasilan Bank dan anakanak perusahaan dihitung untuk masingmasing perusahaan sebagai badan hukum terpisah. Aktiva pajak kini dan kewajiban pajak kini untuk badan hukum yang berbeda tidak disalinghapuskan dalam laporan keuangan konsolidasian.

The income tax of the Bank and its subsidiaries is computed for each company as a separate legal entity. Current tax assets and current tax liabilities for different legal entities are not offset in the consolidated financial statements.

Beban pajak kini ditentukan berdasarkan penghasilan kena pajak untuk tahun berjalan dan dihitung menggunakan tarif pajak yang berlaku.

Current tax expense is determined based on the taxable income for the year and computed using prevailing tax rates.

Laba per Saham

z. Earnings per Share

Laba per saham dasar dihitung dengan membagi laba bersih residual dengan jumlah rata-rata tertimbang saham yang beredar pada tahun yang bersangkutan.

Basic earnings per share is computed by dividing residual net income by the weighted average number of shares outstanding during the year.

Laba per saham dilusian dihitung dengan membagi laba bersih dengan rata-rata tertimbang saham yang beredar pada tahun yang bersangkutan yang disesuaikan dengan mengasumsikan konversi surat berharga berpotensi saham yang sifatnya dilutif.

Diluted earnings per share is computed by dividing net income with the weighted average number of shares outstanding during the year adjusted to assumed conversion of all dilutive potential ordinary shares.

aa. Dana Pensiun dan Manfaat Karyawan

aa. Pension Plan Entitlements

and

Employee

Service

Kewajiban Pensiun

Pension Obligations

Bank mempunyai program pensiun sesuai dengan Undang-undang (UU) Ketenagakerjaan No. 13/2003 atau kebijakan internal Bank. Karena UU Ketenagakerjaan menentukan rumus tertentu untuk menghitung jumlah minimal imbalan pensiun, pada dasarnya program pensiun berdasarkan UU Ketenagakerjaan adalah program manfaat pasti. Program-program ini pada umumnya didanai melalui pembayaran kepada pengelola dana pensiun sebagaimana ditentukan dalam perhitungan aktuarial yang dilakukan secara barkala. Program pensiun manfaat pasti adalah program pensiun yang menentukan jumlah imbalan pensiun yang akan diberikan, yang pemberiannya biasanya didasarkan pada satu faktor atau lebih seperti usia, masa kerja atau kompensasi.

The Bank has pension schemes in accordance with Labor Law No. 13/2003 or the Bank’s policies. Since the Labor Law sets the formula for determining the minimum amount of benefits, in substance pension plans under Labor Law represent defined benefit plans. The schemes are generally funded through payments to trustee-administered funds as determined by periodic actuarial calculations. A defined benefit plan is a pension plan that defines an amount of pension benefit to be provided, usually as a function of one or more factors such as age, years of service or compensation.

41




2.

KEBIJAKAN AKUNTANSI (lanjutan) aa. Dana Pensiun (lanjutan)

dan

Manfaat

2. Karyawan

ACCOUNTING POLICIES (continued) aa. Pension Plan and Employee Entitlements (continued)

Service

Kewajiban Pensiun (lanjutan)

Pension Obligations (continued)

Kewajiban program pensiun manfaat pasti yang diakui di necara konsolidasian adalah nilai kini kewajiban manfaat pasti pada tanggal neraca dikurangi nilai wajar aktiva program, serta disesuaikan dengan keuntungan/kerugian aktuarial dan biaya jasa lalu yang belum diakui. Kewajiban manfaat pasti dihitung setiap tahun oleh aktuaris independen menggunakan metode projected unit credit. Nilai kini kewajiban manfaat pasti ditentukan dengan mendiskontokan estimasi arus kas keluar masa depan dengan menggunakan tingkat bunga obligasi korporasi berkualitas tinggi dalam mata uang yang sama dengan mata uang imbalan yang akan dibayarkan dan waktu jatuh tempo yang kurang lebih sama dengan waktu jatuh tempo imbalan yang bersangkutan.

The liability recognized in the consolidated balance sheet in respect of defined benefit pension plans is the present value of the defined benefit obligation at the balance sheet date less the fair value of plan assets, together with adjustments for unrecognized actuarial gains or losses and past service cost. The defined benefit obligation is calculated annually by independent actuaries using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future cash outflows using interest rates of high quality corporate bonds that are denominated in the currency in which the benefit will be paid, and that have terms to maturity approximating the terms of the related pension liability.

Keuntungan dan kerugian aktuarial dapat timbul dari penyesuaian yang dibuat berdasarkan pengalaman, perubahan asumsiasumsi aktuarial dan perubahan pada program pensiun. Apabila jumlah keuntungan atau kerugian aktuarial ini melebihi 10% dan nilai kini kewajiban manfaat pasti atau 10% dari nilai wajar aktiva program maka kelebihannya dibebankan atau dikreditkan pada laporan laba rugi selama sisa masa kerja rata-rata para karyawan yang bersangkutan.

Actuarial gains and losses arising from experience adjustments, changes in actuarial assumptions and amendments to pension plans when exceeding 10% of present value of the defined benefit obligation or 10% of fair value program’s asset are charged or credited to statement of income over the average remaining service lives of the related employees.

Sejak tahun 2008, berdasarkan Surat Keputusan No. 484 Tahun 2006 tentang penghargaan bagi karyawan purnabakti, Bank juga memberikan penghargaan masa dinas untuk karyawan yang telah menyelesaikan masa kerja selama 10 tahun atau lebih. Untuk manfaat tersebut, PSAK No. 24 (Revisi 2004) mengharuskan perlakuan akuntansi yang hampir sama dengan akuntansi untuk program manfaat pasti (sebagaimana disajikan pada paragraf sebelum ini), kecuali bahwa semua keuntungan dan kerugian aktuaria dan biaya jasa lalu yang timbul harus diakui sekaligus dalam laporan laba rugi konsolidasian tahun berjalan.

Starting 2008, based on the decision letter No. 484 Year 2006, regarding awards for employees, Bank also provides for long service awards for employees whose work periods reach 10 years or above. For such benefits, PSAK No. 24 (Revised 2004) requires an accounting treatment similar to that for defined benefit plans, except that the actuarial gains and losses and past service costs should all be recognized immediately in the current year’s consolidated statement of income.

42




2.


2.

ab. Opsi Saham

ACCOUNTING POLICIES (continued) ab. Share Options

Bank memberikan opsi saham kepada direksi dan karyawan pada posisi dan jabatan tertentu berdasarkan persyaratan yang telah ditetapkan. Biaya kompensasi saham pada tanggal penerbitan dihitung berdasarkan nilai wajar dari opsi saham tersebut dan diakui dalam akun “Beban gaji dan tunjangan karyawan” berdasarkan program hak yang diakui pada tahun berjalan dengan metode garis lurus selama masa tunggu (vesting period). Akumulasi dan biaya kompensasi saham diakui sebagai “Cadangan opsi saham“ dalam bagian ekuitas.

The Bank has granted share options to the directors and employees at certain positions and levels based on established criteria. Compensation cost at the grant date is calculated using the fair value of the share options and is recognized as part of “Salaries and employee benefit expense“ based on the straight-line method over the vesting period. Accumulation of compensation cost is recognized as “Share options reserve“ in equity.

Nilai wajar dari opsi saham tersebut dinilai berdasarkan laporan hasil penilaian oleh konsultan independen dengan menggunakan metode penentuan harga opsi Black-Scholes.

The fair value of the stock options granted is based on independent consultants’ valuation report calculated using the Black-Scholes option pricing model.

ac. Informasi Segmen

ac. Segment Information

Informasi segmen disusun sesuai dengan kebijakan akuntansi yang dianut dalam penyusunan dan penyajian laporan keuangan konsolidasian. Segmen primer pelaporan adalah segmen usaha sedangkan segmen sekunder adalah segmen geografis.

Segment information is prepared using the accounting policies adopted for preparing and presenting the consolidated financial statements. The primary reporting segment information is based on business segments, while secondary segment information is based on geographical segments.

Segmen usaha adalah komponen bisnis Bank yang dapat dibedakan dalam menghasilkan jasa (baik jasa individual maupun kelompok jasa terkait) dan komponen itu memiliki risiko dan imbalan yang berbeda dengan risiko dan imbalan segmen lain. Segmen usaha terbagi dalam kelompok perbankan konvensional dan perbankan Syariah.

A business segment is a distinguishable component of the Bank that is engaged in providing an individual service or a group of related services and that is subject to risks and returns that are different from those of other business segments. The business segment has been determined to be conventional banking and banking activities based on Sharia principles.

Segmen geografis adalah komponen Bank yang dapat dibedakan dalam menghasilkan jasa pada lingkungan (wilayah) ekonomi tertentu dan komponen itu memiliki risiko dan imbalan yang berbeda dengan risiko dan imbalan pada komponen yang beroperasi pada lingkungan (wilayah) ekonomi lain.

A geographical segment is a distinguishable component of the Bank that is engaged in providing services within a particular economic environment and that is subject to risks and returns that are different from those operating in other economic environments.

43




2.

KEBIJAKAN AKUNTANSI (lanjutan) ad. Transaksi dengan Pihak-pihak Mempunyai Hubungan Istimewa

2. yang

ACCOUNTING POLICIES (continued) ad. Transactions with Related Parties

Sesuai dengan PSAK No. 7 tentang “Pengungkapan Pihak-pihak yang Mempunyai Hubungan Istimewa” yang dimaksud dengan pihak yang mempunyai hubungan istimewa adalah sebagai berikut:

Related parties are defined under PSAK No. 7 on “Related Party Disclosures” as follows:

1)

perusahaan yang melalui satu atau lebih perantara (intermediaries), mengendalikan, atau dikendalikan oleh, atau berada dibawah pengendalian bersama dengan perusahaan pelapor (termasuk holding companies, subsidiary, dan fellow subsidiary);

1)

enterprises that, through one or more intermediaries, control or are controlled by, or are under common control with the reporting enterprise (including holding companies, subsidiary, and fellow subsidiary);

2)

perusahaan asosiasi;

2)

associated companies;

3)

perorangan yang memiliki, baik secara langsung maupun tidak langsung suatu kepentingan hak suara di perusahaan pelapor yang berpengaruh secara signifikan, dan anggota keluarga dekat dari perorangan tersebut (anggota keluarga dekat adalah mereka yang dapat diharapkan mempengaruhi atau dipengaruhi perorangan tersebut dalam transaksinya dengan perusahaan pelapor);

3)

individuals owning, directly or indirectly, an interest in the voting power of the reporting enterprise that gives them significant influence over the enterprise, and close members of the family of any such individuals (close members of a family are defined as those members who are able to exercise influence or can be influenced by such individuals in their transactions with the reporting enterprise);

4)

karyawan kunci, yaitu orang-orang yang mempunyai wewenang dan tanggung jawab untuk merencanakan, memimpin dan mengendalikan kegiatan perusahaan pelapor yang meliputi anggota komisaris, direksi dan manajer dari perusahaan serta anggota keluarga dekat orang-orang tersebut; dan

4)

key management personnel, that is, those persons having authority and responsibility for planning directing and controlling the activities of the reporting enterprise, including commissioners, directors and managers of the enterprise and close members of the families of such individuals; and

5)

perusahaan di mana suatu kepentingan substansial dalam hak suara dimiliki baik secara langsung maupun tidak langsung oleh setiap orang yang diuraikan dalam 3) atau 4) atau setiap orang tersebut mempunyai pengaruh signifikan atas perusahaan tersebut. Ini mencakup perusahaan-perusahaan yang dimiliki anggota komisaris, direksi atau pemegang saham utama dari perusahaan pelapor dan perusahaan-perusahaan yang mempunyai anggota manajemen kunci yang sama dengan perusahaan pelapor.

5)

enterprises in which a substantial interest in the voting power is owned, directly or indirectly by any persons described in 3) or 4) above, or over which such a person is able to exercise significant influence. This definition includes enterprises owned by the commissioners, directors or major shareholders of the reporting enterprise and enterprises that have a common member of key management as in the reporting enterprise.

44




2.


2.

ad. Transaksi dengan Pihak-pihak yang Mempunyai Hubungan Istimewa (lanjutan)

ACCOUNTING POLICIES (continued) ad. Transactions (continued)

Semua tansaksi yang jumlahnya signifikan dengan pihak yang mempunyai hubungan istimewa, baik yang dilakukan dengan syarat normal, sebagaimana dilakukan dengan pihak yang tidak mempunyai hubungan istimewa, maupun tidak, telah diungkapkan dalam laporan keuangan konsolidasian. Transaksi Bank dengan Badan Usaha Milik Negara/Daerah tidak diungkapkan sebagai transaksi dengan pihak-pihak yang mempunyai hubungan istimewa.

3.

Rupiah

3.

2006

418.137

7.834 3.080 186 588

Rupiah

3.457 57 68

Foreign currencies United States Dollar Singapore Dollar Australian Dollar 17

12

11.688

3.666

3.599

683.155

421.803

275.562

The Rupiah balance includes cash in ATMs (Automatic Teller Machines) amounting to Rp91,088 (2007: Rp68,660; 2006: Rp53,232).

GIRO PADA BANK INDONESIA

4. 2008

Rupiah DoIar Amerika Serikat

271.963

3.021 557 76

Saldo dalam mata uang Rupiah termasuk uang pada ATM (Anjungan Tunai Mandiri) sebesar Rp91.088 (2007: Rp68.660; 2006: Rp53.232)

4.

Parties

CASH

2007

671.467

Mata uang asing DoIar Amerika Serikat Dolar Singapura Dolar Australia Lainnya

Related

All significant transactions with related parties, whether or not conducted under terms and conditions similar to those granted to third parties, are disclosed in the notes to the consolidated financial statements. Transactions with State-owned/Regional-owned companies are not considered as transactions with related parties.

KAS 2008

with

2007

CURRENT ACCOUNTS WITH BANK INDONESIA 2006

1.158.462 41.420

3.538.511 148.879

2.330.467 91.831

1.199.882

3.687.390

2.422.298

Pada tanggal 31 Desember 2008, saldo giro pada Bank Indonesia termasuk giro yang didasarkan pada prinsip perbankan Syariah sebesar Rp30.303 (2007: Rp19.462; 2006: Rp14.361).

Rupiah United States Dollar

As at December 31, 2008, current accounts with Bank Indonesia include amounts under Sharia banking principles of Rp30,303 (2007: Rp19,462; 2006: Rp14,361).

45




4.

GIRO PADA BANK INDONESIA (lanjutan)

4.

CURRENT ACCOUNTS WITH BANK INDONESIA (continued)

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 minimum statutory reserve requirement (GWM).

Berdasarkan Peraturan BI (PBI) No. 6/15/PBI/2004 tertanggal 28 Juni 2004, bank dipersyaratkan untuk memiliki giro wajib minimum (GWM) sebesar 5% dari dana pihak ketiga dalam mata uang rupiah dan 3% dari dana pihak ketiga dalam mata uang asing. Selain itu, bank dipersyaratkan untuk memiliki tambahan GWM sebesar persentase tertentu apabila memiliki jumlah dana pihak ketiga melebihi Rp1 triliun (nilai penuh) sampai dengan jumlah tertentu. BI akan membayar bunga atas tambahan GWM dalam mata uang Rupiah tersebut.

Based on BI Regulation (PBI) No. 6/15/PBI/2004 dated June 28, 2004, banks are required to maintain minimum reserve requirement (GWM) equivalent to 5% of third party funds in Rupiah currency and 3% of third party funds in foreign currency. In addition, banks are required to maintain additional GWM at certain percentages in excess of Rp1 trillion (full amount) up to certain threshold amounts of third party funds in Rupiah. BI shall pay interest on the additional GWM in Rupiah.

Efektif sejak tanggal 8 September 2005, PBI No. 7/29/PBI/2005 tanggal 6 September 2005 mensyaratkan bank untuk memiliki tambahan GWM dalam Rupiah sebesar persentase tertentu berdasarkan besarnya rasio pinjaman yang diberikan terhadap jumlah dana pihak ketiga (Loan to Deposit Ratio - LDR) dalam mata uang Rupiah. Peraturan ini adalah peraturan tambahan atas PBI No. 6/15/PBI/2004 tanggal 28 Juni 2004 tentang GWM.

Effective September 8, 2005, PBI No. 7/29/PBI/2005 dated September 6, 2005 requires banks to maintain GWM in Rupiah at certain percentage based on the Bank’s Loan to Deposit Ratio (LDR). This regulation is an additional requirement to PBI No. 6/15/PBI/2004 dated June 28, 2004 on GWM.

Pada tahun 2008, BI menerbitkan PBI No. 10/19/PBI/2008 tanggal 14 Oktober 2008 tentang Giro Wajib Minimum Bank Umum pada BI dalam Rupiah dan Valuta Asing serta PBI No. 10/25/PBI/2008 tanggal 23 Oktober 2008 tentang Perubahan atas PBI No. 10/19/PBI/2008 tentang Giro Wajib Minimum Bank Umum pada BI dalam Rupiah dan Valuta Asing. Peraturan ini mensyaratkan Bank memiliki GWM utama sebesar 5% dari dana pihak ketiga dalam Rupiah dan GWM sekunder sebesar 2,5% dari dana pihak ketiga dalam Rupiah. Pemenuhan GWM sekunder mulai berlaku sejak tanggal 24 Oktober 2009.

In 2008, BI issued PBI No. 10/19/PBI/2008 dated October 14, 2008 regarding Minimum Reserve Requirement of General Banks at BI in Rupiah and Foreign Currency and PBI No. 10/25/PBI/2008 dated October 23, 2008 regarding the Amendment of PBI No. 10/19/PBI/2008 regarding Minimum Reserve Requirement of General Banks at BI in Rupiah and Foreign Currency. This PBI requires Bank to maintain primary reserve of 5% of third party funds in Rupiah and secondary reserve of 2,5% of third party funds in Rupiah. Secondary reserve should be complied since October 24, 2009.

46




4.

GIRO PADA BANK INDONESIA (lanjutan)

4.

Rasio GWM (tidak diaudit) Bank pada tanggal 31 Desember 2008, 2007, dan 2006 adalah sebagai berikut: 2008

5.

CURRENT ACCOUNTS WITH BANK INDONESIA (continued) As at December 31, 2008, 2007, and 2006, the GWM ratios (unaudited) of the Bank are as follows:

2007

2006

Konvensional Rupiah Dolar Amerika Serikat

5,23% 1,10%

14,40% 3,02%

10,50% 3,02%

Conventional Rupiah United States Dollar

Syariah Rupiah

5,85%

6,12%

5,26%

Sharia Rupiah

Giro wajib minimum dalam Rupiah per tanggal 31 Desember 2008 adalah sebesar 5,00% (2007 dan 2006: 8,00%) dan dalam Dolar Amerika Serikat adalah sebesar 1,00% (2007 dan 2006: 3,00%).

The Bank’s minimum reserve requirement in Rupiah as of December 31, 2008 was 5.00% (2007 and 2006: 8.00%) and in US Dollar was 1.00% (2007 and 2006: 3.00%).

Pada tanggal 31 Desember 2008, 2007, dan 2006, perhitungan rasio GWM berdasarkan prinsip perbankan Syariah didasarkan pada Peraturan BI No. 6/21/PBI/2004 tanggal 3 Agustus 2004 tentang Giro Wajib Minimum dalam Rupiah dan mata uang asing bagi Bank Umum yang melaksanakan kegiatan usaha berdasarkan prinsip Syariah sebagaimana telah diubah dengan Peraturan BI No. 8/23/PBI/2006 tanggal 5 Oktober 2006 dan diubah dengan Peraturan Bank Indonesia No. 10/23/PBI/2008 tanggal 13 Oktober 2008.

As at December 31, 2008, 2007, and 2006, the calculation of the GWM ratios in Sharia banking principles is based on BI Regulation No. 6/21/PBI/2004 regarding GWM in Rupiah and foreign currencies for Sharia Banks dated August 3, 2004 as amended by BI Regulation No. 8/23/PBI/2006 dated October 5, 2006 and BI Regulation No. 10/23/PBI/2008 dated October 13, 2008.

Pada tanggal 31 Desember 2008, 2007, dan 2006 Bank telah memenuhi ketentuan BI tentang GWM minimum.

As at December 31, 2008, 2007, and 2006, the Bank has complied with BI’s regulation on the minimum GWM.

GIRO PADA BANK LAIN a.

5.

Berdasarkan mata uang

a. By currency 2008

Pihak ketiga Rupiah Mata uang asing: Dolar Amerika Serikat Dolar Singapura Euro Dolar Australia Poundsterling Inggris Lain-lain

CURRENT ACCOUNTS WITH OTHER BANKS

2007

2006 Third parties

24.751

20.165

14.955

740.538 2.218 1.152 1.137 323 1.987

40.209 4.014 2.289 839 1.939 1.823

26.969 2.162 3.862 478 2.152

747.355

51.113

35.623

772.106

71.278

50.578

47

Foreign currencies: United States Dollar Singapore Dollar Euro Australian Dollar Great Britain Poundsterling Others




5.

GIRO PADA BANK LAIN (lanjutan) a.

5.

CURRENT ACCOUNTS WITH OTHER BANKS (continued)

Berdasarkan mata uang (lanjutan)

a. By currency (continued)

2008

2007

Pihak yang mempunyai hubungan istimewa Rupiah Jumlah Penyisihan kerugian

2006 Related party

-

3.191

772.106 (7.888)

(901

764.218

73.568

Pada tanggal 31 Desember 2008, di dalam giro pada bank lain terdapat giro yang didasarkan pada prinsip perbankan Syariah sebesar Rp229 (2007: Rp39; 2006: Rp660). b.

Total

(1.089 )

52.583

b. By bank 2008

Mata uang asing: PT Bank Mandiri (Persero) Tbk Wachovia Bank N.A., New York Citibank N.A., Jakarta Standard Chartered Bank, New York American Express Bank, New York Citibank N.A., New York United Overseas Bank Ltd., Singapura Oversea-Chinese Banking Corp Ltd., Singapura Sumitomo Mitsui Banking Corporation, Tokyo Commerze Bank AG, Frankfurt National Australia Bank, Melbourne PT Bank Central Asia Tbk Standard Chartered Bank, London Dresdner Bank AG, Frankfurt American Express Bank, Tokyo Lain-lain

53.672 )

As at December 31, 2008, current accounts with other banks include amounts under Sharia banking principles of Rp229 (2007: Rp39; 2006: Rp660).

Berdasarkan bank Pihak ketiga Rupiah: Standard Chartered Bank, Jakarta PT Bank Central Asia Tbk PT Bank Mandiri (Persero) Tbk PT Bank CIMB Niaga Tbk (dahulu PT Bank Niaga Tbk dan PT Bank Lippo Tbk) PT Bank Negara Indonesia (Persero) Tbk Lain-lain

3.094

74.469

2007

2006 Third parties Rupiah:

14.620 6.458 1.551

310 8.940

3.929 2.967

1.135

6.115

6.712

152 835

405 4.395

492 855

24.751

20.165

14.955

Standard Chartered Bank, Jakarta PT Bank Central Asia Tbk PT Bank Mandiri (Persero) Tbk PT Bank CIMB Niaga Tbk (formerly PT Bank Niaga Tbk and PT Bank Lippo Tbk) PT Bank Negara Indonesia (Persero) Tbk Others

Foreign currencies:

716.039

10.410

-

PT Bank Mandiri (Persero) Tbk

1.447 8.504

1.943

10.544 5.268

9.077

18.046

6.566

Wachovia Bank N.A., New York Citibank N.A., Jakarta Standard Chartered Bank, New York

4.345

5.015 2.663

1.367 2.406

2.194

1.761

1.660

-

2.253

502

1.332 1.152

941 1.956

263 -

1.137 1.127

839 2.161

478 817

323 -

1.939 333

3.863

678

14 839

1.010 879

747.355

51.113

35.623

772.106

71.278

50.578

48

American Express Bank, New York Citibank N.A., New York United Overseas Bank Ltd., Singapore Oversea-Chinese Banking Corp Ltd.,Singapore Sumitomo Mitsui Banking Corporation, Tokyo Commerze Bank AG, Frankfurt National Australia Bank, Melbourne PT Bank Central Asia Tbk Standard Chartered Bank, London Dresdner Bank AG, Frankfurt American Express Bank, Tokyo Others




5.

GIRO PADA BANK LAIN (lanjutan)

b.

5.

Berdasarkan bank (lanjutan)

b. By bank (continued) 2008

2007

Pihak yang mempunyai hubungan Istimewa Rupiah PT Bank Syariah Bukopin (dahulu PT Bank Persyarikatan Indonesia) Jumlah Penyisihan kerugian

2006 Related party Rupiah

74.469 (7.888)

(901 73.568

Berdasarkan kolektibilitas

(1.089

52.583

d. Movements in allowance for losses

2008

2007 252

Mata uang asing: Saldo awal tahun Penyisihan (pemulihan) selama tahun berjalan (Catatan 32) Selisih kurs karena penjabaran mata uang asing

2006 191

99

Rupiah: Balance at beginning of year Provision during the year ( Note 32)

36

61

92

288

252

191

649

898

639

(301)

302

Foreign currencies: Balance at beginning of year Provision (reversal) during the year (Note 32) Foreign exchange translation

6.953 (2)

52

(43)

7.600

649

898

7.888

901

1.089

Manajemen berpendapat bahwa penyisihan kerugian telah memadai.

jumlah

Management believes that the allowance for losses is adequate.

Tingkat suku bunga rata-rata per tahun: 2008 Rupiah Mata uang asing

Total

All current accounts with other banks are classified as current as at December 31, 2008, 2007, and 2006.

Perubahan penyisihan kerugian

Rupiah: Saldo awal tahun Penyisihan selama tahun berjalan (Catatan 32)

e.

53.672 )

c. By collectibility

Pada tanggal 31 Desember 2008, 2007, dan 2006, semua giro pada bank lain diklasifikasikan lancar. d.

PT Bank Syariah Bukopin (formerly PT Bank 3.094

3.191

772.106 764.218

c.

CURRENT ACCOUNTS WITH OTHER BANKS (continued)

e. Average annual interest rates: 2007

1,66 % 1,58 %

2006 1,67% 1,56%

49

1,90% 1,35%

Rupiah Rupiah




6.

PENEMPATAN PADA BANK INDONESIA DAN BANK LAIN a.

6.

PLACEMENTS WITH BANK INDONESIA AND OTHER BANKS

Berdasarkan jenis, mata uang, dan bank 2008 Pihak ketiga Rupiah: Fasilitas Simpanan Bank Indonesia, bersih setelah dikurangi bunga yang belum diamortisasi pada tahun 2008 sebesar Rp652 (2007: Rp10; 2006: Rp198) Interbank call money PT Bank DKI PT BPD Jawa Tengah PT BPD Jawa Barat PT Bank Pan Indonesia Tbk PT Bank Permata Tbk JP Morgan Chase Bank N.A. PT Bank CIMB Niaga Tbk (dahulu PT Bank Niaga Tbk dan PT Bank Lippo Tbk)

Dolar Amerika Serikat: Interbank call money Sumitomo Mitsui, Singapura United Overseas Bank, Jakarta PT Bank DBS Indonesia PT Bank Pan Indonesia Tbk PT Bank CIMB Niaga Tbk (dahulu PT Bank Niaga Tbk dan PT Bank Lippo Tbk) PT Bank Mandiri (Persero) Tbk N.V. De Indonesische Overzeese Bank, Belanda (dalam likuidasi) PT Bank Rabobank International Indonesia PT Bank OCBC NISP Tbk (dahulu PT Bank OCBC Indonesia dan PT Bank NISP Tbk) PT Bank Rakyat Indonesia (Persero) Tbk ABN AMRO Bank N.V., Jakarta PT Bank Chinatrust Indonesia PT Bank Mega Tbk PT Bank Century Tbk PT Bank Ekspor Indonesia (Persero) PT Bank Tabungan Negara (Persero) Wachovia Bank N.A., New York PT Bank Agris (dahulu PT Bank Finconesia) PT Bank Artha Graha International Tbk Nordea Bank Finland PLC, Singapura

a. By type, currency, and banks 2007

2006 Third parties Rupiah:

507.348

59.990

749.802

-

100.000 50.000 25.000 -

150.000 90.000 60.000

-

-

19.500

-

175.000

319.500

507.348

234.990

1.069.302

-

939.300

1.241.773

-

375.720 328.755 281.790

-

-

281.790 217.072

-

163.500

140.895

-

-

140.895

-

Placement with Bank Indonesia, net of unamortized interest of Rp652 in 2008 (2007: Rp10; 2006: Rp198) Interbank call money PT Bank DKI PT BPD Jawa Tengah PT BPD Jawa Barat PT Bank Pan Indonesia Tbk PT Bank Permata Tbk JP Morgan Chase Bank N.A. PT Bank CIMB Niaga Tbk (formerly PT Bank Niaga Tbk and PT Bank Lippo Tbk)

United States Dollar: Interbank call money Sumitomo Mitsui, Singapore United Overseas Bank, Jakarta PT Bank DBS Indonesia PT Bank Pan Indonesia Tbk PT Bank CIMB Niaga Tbk (formerly PT Bank Niaga Tbk and PT Bank Lippo Tbk) PT Bank Mandiri (Persero) Tbk N.V. De Indonesische Overzeese Bank, Netherlands (under liquidation) PT Bank Rabobank International Indonesia

214.160

-

654.000

98.627

-

PT Bank OCBC NISP Tbk (formerly PT Bank OCBC Indonesia and PT Bank NISP Tbk) PT Bank Rakyat Indonesia (Persero) Tbk

-

93.930

-

ABN AMRO Bank N.V., Jakarta

-

93.930 93.930 18.786

-

81.750

18.786

-

23.980

14.090 10.332

-

-

9.393

-

-

9.393

9.003

-

-

270.090

PT Bank Chinatrust Indonesia PT Bank Mega Tbk PT Bank Century Tbk PT Bank Ekspor Indonesia (Persero) PT Bank Tabungan Negara (Persero) Wachovia Bank N.A., New York PT Bank Agris (formerly PT Bank Finconesia) PT Bank Artha Graha International Tbk Nordea Bank Finland PLC, Singapore

-

50



PT BANK BUKOPIN TBK. DAN ANAK-ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tahun yang Berakhir pada Tanggal-tanggal 31 Desember 2008 dan 2006 Dengan Angka Perbandingan Untuk 2007 (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain) Bank of Nova Scotia, Hongkong Mizuho Bank

54.500

-

51

270.090 -

Bank of Nova Scotia, Hongkong Mizuho Bank




6.

PENEMPATAN PADA BANK INDONESIA DAN BANK LAIN (lanjutan) a.

6.

PLACEMENTS WITH BANK INDONESIA AND OTHER BANKS (continued)

Berdasarkan jenis, mata uang, dan bank (lanjutan) 2008 Dolar Australia Interbank call money Bayeriche Hypo Yen Jepang Interbank call money PT Bank Negara Indonesia (Persero) Tbk Dolar Singapura PT Bank Negara Indonesia (Persero) Tbk

Deposito berjangka Deutsche Bank AG, Singapura

2007

12.842

Jumlah Penyisihan kerugian

2006

-

72.390

-

-

Australian Dollar Interbank call money Bayeriche Hypo

-

Japan Yen Interbank call money PT Bank Negara Indonesia (Persero) Tbk Singapore Dollar PT Bank Negara Indonesia (Persero) Tbk

11.382

-

-

1.074.344

3.381.574

1.790.956 Time deposits

-

-

53.951

-

-

53.951

Sertifikat Deposito N.V. De Indonesische Overzeese Bank, Belanda setelah dikurangi bunga bunga yang belum diamortisasi sebesar Rp1.685 pada tahun 2006

Pihak yang mempunyai hubungan Istimewa Rupiah Interbank call money PT Bank Syariah Bukopin (dahulu PT Bank Persyarikatan Indonesia)

a. By type, currency, and banks (continued)

Deutsche Bank AG, Singapore

Certificate of Deposits

-

N.V. De Indonesische Overzese Bank, Netherlands net of unamortized 133.360 interest of Rp1,685 in 2006

-

-

3.381.574

1.978.267

1.581.692

3.616.564

3.047.569

Related party Rupiah

-

178.300

99.200

Interbank call money PT Bank Syariah Bukopin (formerly PT Bank Persyarikatan Indonesia)

1.581.692

3.794.864 )

3.146.769 (37.349 )

Total (23.987

3.757.515

3.122.782

(58.262 1.523.430

52

)




6.

PENEMPATAN PADA BANK INDONESIA DAN BANK LAIN (lanjutan) b.

Berdasarkan sisa umur jatuh tempo

Pihak ketiga Rupiah: ≤ 1 bulan Dolar Amerika Serikat: ≤ 1 bulan > 1 - 3 bulan > 3 bulan

2007

2006

507.348

234.990

1.069.302

Third parties Rupiah: ≤ 1 month

1.074.344 -

3.381.574 -

1.844.907 133.360

United States Dollar: ≤ 1 month > 1 - 3 months > 3 months

1.581.692

3.616.564

3.047.569

Pihak yang mempunyai hubungan istimewa Rupiah: ≤ 1 bulan Jumlah Penyisihan kerugian

-

178.300

99.200

1.581.692

3.794.864 )

3.146.769 (37.349 )

3.757.515

3.122.782

(58.262 1.523.430


Related parties Rupiah: ≤ 1 month Total

(23.987

c. By collectibility

Berdasarkan hasil evaluasi dan penelaahan manajemen Bank, klasifikasi penempatan pada bank lain berdasarkan kualitas pada tanggaltanggal 31 Desember 2008, 2007, dan 2006 adalah sebagai berikut: 2008

Based on managements evaluation and review, the classification of placement with other banks as at December 31, 2008, 2007, and 2006 is as follows: 2007

2006

Lancar Kurang lancar

1.418.192 163.500

3.794.864 -

3.146.769 -


1.581.692 (58.262)

3.794.864 (37.349)

3.146.769 (23.987)

1.523.430

3.757.515

3.122.782

Bank memiliki penempatan dalam mata uang asing pada bank asing yang dimiliki oleh bank sentral Indonesia yang sedang dalam proses likuidasi. Pada tanggal 31 Desember 2008, Bank mengklasifikasikan penempatan tersebut sebagai ”kurang lancar” dan mengakui 30% penyisihan kerugian atas saldo tersebut berdasarkan estimasi manajemen atas jumlah yang dapat diperoleh selama proses likuidasi.

d.

PLACEMENTS WITH BANK INDONESIA AND OTHER BANKS (continued) b. By remaining period to maturity

2008

c.

6.

Total Allowance for losses

The Bank has placement in foreign currency with a foreign bank owned by the central bank of Indonesia which are currently under liquidation processes. As of December 31, 2008, the Bank classified this placement as “sub-standard” and recognized 30% allowance for losses from the outstanding balance on the basis of management estimate of the recoverable amount during the liquidation processes.

Tingkat suku bunga rata-rata per tahun 2008

Current Sub-standard

d. Average annual interest rates 2007

2006

Rupiah: Fasilitas simpanan Bank Indonesia Interbank call money

6,64% 8,15%

3,46% 6,09%

5,29% 10,55%

Dolar Amerika Serikat: Interbank call money

3,06%

5,11%

4,90%

Rupiah:

53

Placements with Bank Indonesia Interbank call money United States Dollar: Interbank call money



PT BANK BUKOPIN TBK. DAN ANAK-ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tahun yang Berakhir pada Tanggal-tanggal 31 Desember 2008 dan 2006 Dengan Angka Perbandingan Untuk 2007 (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain) Deposito berjangka

8,40%

5,06%

54

4,76%

Time deposits




6.

PENEMPATAN PADA BANK INDONESIA DAN BANK LAIN (lanjutan) e.

6.

PLACEMENTS WITH BANK INDONESIA AND OTHER BANKS (continued)


e. Movements in allowance for losses

2008 Rupiah: Saldo awal (Pemulihan) penyisihan selama tahun berjalan (Catatan 32)

Dolar Amerika Serikat: Saldo awal Penyisihan selama tahun berjalan (Catatan 32) Selisih kurs karena penjabaran mata uang asing

2007 3.533

2006 4.187

(3.533)

(654)

7.

3.533

4.187

33.816

19.800

5.924

23.072

13.024

14.721

1.374

992

58.262

33.816

19.800

58.262

37.349

23.987

7.

2008

Foreign exchange translation

MARKETABLE SECURITIES

Berdasarkan tujuan, jenis, dan mata uang

Pihak ketiga Rupiah: Dimiliki hingga jatuh tempo (nilai perolehan): Sertifikat Bank Indonesia, setelah dikurangi bunga yang belum diamortisasi sebesar Rp10.304 pada tahun 2008 (2007: Rp10.563; 2006: Rp58.486) Obligasi korporasi Obligasi Pemerintah - termasuk diskon yang belum diamortisasi sebesar Rp22.083 pada tahun 2008 (premi yang belum diamortisasi untuk tahun 2007: Rp7.987; 2006: Rp8.420) Obligasi Ritel Indonesia termasuk diskon yang belum diamortisasi sebesar Rp15.222 pada tahun 2008 Sertifikat Wadiah Bank Indonesia Obligasi Syariah Wesel SKBDN, setelah dikurangi bunga yang belum diamortisasi sebesar Rp139 pada tahun 2008 (2007: Rp171; 2006: Rp180)

(845)

United States Dollar: Beginning balance Provision during the year (Note 32)


SURAT-SURAT BERHARGA a.

2.777

-

Manajemen berpendapat bahwa penyisihan kerugian yang dibentuk telah memadai.

Rupiah: Beginning balance (Reversal) provision during the year (Note 32)

1.410

a. By purpose, type, and currency 2007

2006 Third parties Rupiah: Held-to-maturity (at cost):

3.279.096 446.262

5.828.937 254.325

411.532

9.926.692 132.456

331.779

223.848

-

80.000 -

Bank Indonesia Certificates net of unamortized interest of Rp10,304 in 2008 (2007: Rp10,563; 2006: Rp58,486) Corporate bonds

123.419

Government bonds - including unamortized discount of Rp22,083 in 2008 (unamortized premium for 2007: Rp7,987; 2006:Rp 8,420)

-

Indonesia Retail Bond including unamortized discount of Rp15,222 in 2008

20.000

Sharia bonds

Domestic letters of credit - net of unamortized interest of Rp139 in 2008 (2007: Rp171; 2006: Rp180)

119.000 20.000

73.000

8.298

5.819

4.811

4.449.036

6.559.860

10.280.378

55




7.

SURAT-SURAT BERHARGA (lanjutan) a.

7.

MARKETABLE SECURITIES (continued)

Berdasarkan tujuan, jenis, dan mata uang (lanjutan) 2008 Diperdagangkan (nilai wajar): Obligasi Ritel Indonesia termasuk keuntungan yang belum direalisasi sebesar Rp3.244 pada tahun 2007 (2006: Rp5.583) Obligasi korporasi

Dolar Amerika Serikat Dimiliki hingga jatuh tempo (nilai perolehan) Obligasi Pemerintah termasuk premi yang belum diamortisasi sebesar Rp185 pada tahun 2008 Wesel ekspor Obligasi korporasi - termasuk premi yang belum diamortisasi net of unamortized premium of sebesar Rp440 pada tahun 2008 (2006: Rp2.692)

2007

2006 Trading (at fair value):

-

113.549 -

-

113.549

116.206

6.673.409

10.396.584

Indonesia Retail Bond including unrealized gain of Rp3,244 in 2007 (2006: Rp5,583) Corporate bonds

United States Dollar Held to maturity (at cost):

8.360 -

1.725

1.945

65.840

-

58.736

74.200

1.725

60.681

Government bonds - including unamortized premium of Rp185 in 2008 Export bills Corporate bonds -

Rp440 in 2008 (2006: Rp2,692 in 2006)

Trading (at fair value):

Corporate bonds

-

38.347

36.696

including unrealized gain of Rp775 in 2007 (2006: Rp684)

include unrealized gain of Rp 246 (2006: Rp304)

Government bonds

-

7.291

7.056

-

45.638

43.752

74.200

47.363

104.433

4.523.236

6.720.772

10.501.017 (5.164 )

6.715.608

10.496.345

(5.204) 4.518.032

b. Berdasarkan tujuan, penerbit, dan mata uang 2008 Pihak ketiga Rupiah: Dimiliki hingga jatuh tempo (nilai perolehan) Bank Indonesia, setelah dikurangi bunga yang belum diamortisasi sebesar Rp10.304 pada tahun 2008 (2007: Rp10.563; 2006: Rp58.486)

82.858 33.348

4.449.036

Diperdagangkan (nilai wajar) Obligasi korporasi - termasuk keuntungan yang belum direalisasi sebesar Rp775 pada tahun 2007 (2006: Rp684) Obligasi Pemerintah (Seri RI0014) termasuk keuntungan yang belum direalisasi sebesar Rp246 pada tahun 2007 (2006: Rp304)


a. By purpose, type, and currency (continued)

Total

(4.672

b. By purpose, issuer, and currency 2007

2006 Third parties Rupiah: Held-to-maturity (at cost)

3.359.096

5.947.937

56

9.999.692

Bank Indonesia net of unamortized interest of Rp10,304 (2007: Rp10,563; 2006: Rp58,486)




7.

SURAT-SURAT BERHARGA (lanjutan)

7.


b. Berdasarkan tujuan, penerbit, dan mata uang (lanjutan) 2008 Negara Republik Indonesia termasuk premium yang belum diamortisasi sebesar Rp37.305 pada tahun 2008 (2007: Rp7.987; 2006: Rp8.420) PT Bakrie Land Development Tbk PT Japfa Comfeed Indonesia Tbk PT Bank Pan Indonesia Tbk PT Bank Mega Tbk PT Jasa Marga (Persero) PT Bank Permata Tbk PT Federal International Finance PT Bank OCBC NISP Tbk (dahulu PT Bank OCBC Indonesia dan PT Bank NISP Tbk) PT Wahana Ottomitra Multiartha Tbk PT Adira Dinamika Multi Finance Tbk PT Bank DKI PT BNI Securities PT Bank Mayapada International Tbk PT Indosat Tbk PT Bank Ekspor Indonesia (Persero) PT Bosowa Trading International PT Aplikanusa Lintasarta PT Bank Syariah Mandiri PT Bank Tabungan Negara (Persero) PT BPD Jawa Timur

b. By purpose, (continued) 2007

635.380

currency

-

50.000

123.419

Government of the Republic of Indonesia - including unamortized premium of Rp37,305 in 2008 (2007: Rp7,987; 2006: Rp8,420)

-

PT Bakrie Land Development Tbk

30.453 35.000 7.000

PT Bank Pan Indonesia Tbk PT Bank Mega Tbk PT Jasa Marga (Persero) PT Bank Permata Tbk PT Federal International Finance PT Bank OCBC NISP Tbk (formerly PT Bank OCBC Indonesia and PT Bank NISP Tbk)

50.000

50.000 50.000 40.300 35.000 32.000

10.000 40.723 35.000 3.000

-

24.959

-

22.000

25.000

25.000

PT Wahana Ottomitra Multiartha Tbk

15.000 13.000 10.000

25.000 13.000 10.000

25.000 -

PT Adira Dinamika Multi Finance Tbk PT Bank DKI PT BNI Securities

10.000 10.000

10.000 -

-

PT Bank Mayapada International Tbk PT Indosat Tbk

9.000

20.290

9.000

PT Bank Ekspor Indonesia (Persero)

8.298 3 -

5.819 3 20.000

4.811 3 20.000

PT Bosowa Trading International PT Aplikanusa Lintasarta PT Bank Syariah Mandiri

1.000

1.000

PT BPD Jawa TImur

4.449.036

6.559.860

10.280.378

-

113.549

82.858

Government of the Republic of Indonesia

-

-

11.165

PT Bank Ekspor Indonesia (Persero)

-

-

11.073

-

-

11.309

-

Diperdagangkan (nilai wajar) Negara Republik Indonesia PT Bank Ekspor Indonesia (Persero) PT Bank Tabungan Negara (Persero) PT Jasa Marga (Persero)

and

2006

331.779

75.000

issuer,

Trading (at fair value)

11.110

-

113.549

116.206

4.449.036

6.673.409

10.396.584

57

PT Bank Tabungan PT Jasa Marga (Persero)




7.


7.


b. Berdasarkan tujuan, penerbit, dan mata uang (lanjutan) 2008 Dolar Amerika Serikat: Dimiliki hingga jatuh tempo (nilai perolehan) Negara Republik Indonesia termasuk premi yang belum diamortisasi sebesar Rp185 pada tahun 2008 PT Bank CIMB Niaga Tbk (dahulu PT Bank Niaga Tbk) dan PT Bank Lippo Tbk) PT Mitindo Paper Plastic Industry PT Bank Negara Indonesia (Persero) Tbk PT Bank Mandiri (Persero) Tbk PT Sri Rejeki Tekstil PGN Euro Finance 2003 Limited termasuk premi yang belum diamortisasi sebesar Rp440 pada tahun 2008

Diperdagangkan (nilai wajar): PGN Euro Finance 2003 Limited PT Bank CIMB Niaga Tbk (dahulu PT Bank Niaga Tbk) dan PT Bank Lippo Tbk) Negara Republik Indonesia


b. By purpose, (continued) 2007

issuer,

and

currency

2006 United States Dollar:

8.360

-

-

10.900

-

-

-

1.725

1.653

-

-

49.306 9.430 292

54.940

-

-

74.200

1.725

60.681

-

28.707

27.507

-

9.640 7.291

9.189 7.056

-

45.638

43.752

74.200

47.363

104.433

4.523.236

6.720.772

10.501.017 (5.164 )

(5.204) 4.518.032

6.715.608

Held to maturity (at cost) Government of the Republic of Indonesia - including unamortized premium of Rp 185 in 2008 PT Bank CIMB Niaga Tbk (formerly PT Bank Niaga Tbk) and PT Bank Lippo Tbk) PT Mitindo Paper Plastic Industry PT Bank Negara Indonesia (Persero) Tbk PT Bank Mandiri (Persero) Tbk PT Sri Rejeki Tekstil

PGN Euro Finance 2003 Limited including unamortized premiu Rp440 in 2008

Trading (at fair value): PGN Euro Finance 2003 Limited PT Bank CIMB Niaga Tbk (formerly PT Bank Niaga Tbk) and PT Bank Lippo Tbk) Government of the Republic of Indonesia

Total

10.496.345

Pada tanggai 28 Juli 2006, Bank menukarkan Obligasi Pemerintah FR0005 yang sudah mendekati jatuh tempo dengan ObIigasi Pemerintah FR0034 dengan nilai nominal sebesar Rp40.000 pada saat pemerintah melakukan lelang atas pembelian kembali Obligasi Pemerintah FR0005 dengan cara penukaran (debt switch) dengan Obligasi Pemerintah FR0034. Harga pasar Obligasi Pemerintah FR0005 pada saat penukaran tersebut sudah mendekati nilai nominal.

On July 28, 2006, the Bank exchanged Government Bond FR0005 with a face value of Rp40,000 which was close to maturity with Government Bond FR0034 when the Government conducted an auction for the buy back of Government Bond FR0005 through exchange of Government Bond FR0034. The market price of Government Bond FR0005 at that time was close to face value.

Sertifikat Bank Indonesia per tanggal 31 Desember 2006 termasuk surat berharga yang dijual dengan janji dibeli kembali sebesar Rp494.650 (Catatan 21).

As at December 31, 2006 Bank Indonesia Certificates included marketable securities sold with agreements to repurchase amounting to Rp494,650 (Note 21).

58

(4.672




7.


7.


b. Berdasarkan tujuan, penerbit, dan mata uang (lanjutan)

b. By purpose, (continued)

Pada tahun 2008, obligasi yang diterbitkan telah jatuh tempo dan telah dilunasi. Pada tahun 2007 dan 2006, Bank menggunakan obligasi yang dimiliki hingga jatuh tempo sebagai dana cadangan pelunasan obligasi yang telah diterbitkan (Catatan 22) sebagai berikut (nilai nominal): 2008

2006

180.987

115.000

Negara Republik Indonesia

-

50.000 40.723 35.000

28.000 12.500

PT Japfa Comfeed Indonesia Tbk PT Jasa Marga (Persero) PT Bank Permata Tbk

-

25.000

25.000


-

25.000

25.000

PT Adira Dinamika Multi Finance Tbk

-

20.290 13.000

-

PT Bank Ekspor Indonesia (Persero) PT Bank DKI

-

11.309 10.000

-

PT Bank Tabungan Negara (Persero) PT Bank Pan Indonesia Tbk

-

10.000 10.000

-

PT Bank Mayapada Internasional Tbk PT BNI Securities

-

3.000 1.000 3

7.000 -

PT Federal International Finance PT BPD Jawa Timur PT Aplikanusa Lintasarta

-

435.312

212.500

c. By purpose, rating, and currency Nilai tercatat (dimiliki hingga jatuh tempo)/Nilai wajar (diperdagangkan)/ Carrying value (held-to-maturity)/Fair value (trading)

Peringkat/Rating

Rupiah: Dimiliki hingga jatuh tempo Sertifikat Bank Indonesia Obligasi Pemerintah Obligasi Ritel Indonesia Sertifikat Wadiah Bank Indonesia PT Bakrie Land Development Tbk PT Japfa Comfeed Indonesia Tbk PT Bank Mega Tbk PT Bank Pan Indonesia Tbk PT Jasa Marga (Persero) PT Bank Permata Tbk PT Federal International Finance PT Bank OCBC NISP Tbk PT Wahana Ottomitra Multiartha Tbk PT Adira Dinamika Multi Finance Tbk PT Bank DKI PT BNI Securities

currency

-

c. Berdasarkan tujuan, peringkat, dan mata uang

2008

and

In 2008, the bonds issued have been matured and settled. In 2007 and 2006, the Bank used the held-to-maturity bonds as part of a sinking fund established for the marketable securities issued (Note 22) as follows (nominal value):

2007

Negara Republik Indonesia PT Japfa Comfeed Indonesia Tbk PT Jasa Marga (Persero) PT Bank Permata Tbk PT Wahana Ottomitra Multiartha Tbk PT Adira Dinamika Multi Finance Tbk PT Bank Ekspor Indonesia (Persero) PT Bank DKI PT Bank Tabungan Negara (Persero) PT Bank Pan Indonesia Tbk PT Bank Mayapada Internasional Tbk PT BNI Securities PT Federal International Finance PT BPD Jawa Timur PT Aplikanusa Lintasarta

issuer,

2007

2006

2008

2007

2006

-

-

-

3.279.096

5.828.937

9.926.692

-

-

-

411.532 223.848

331.779 -

123.419 -

-

-

-

80.000

119.000

73.000

BBB+

-

-

75.000

-

-

BBB+ A+

BBB+ -

-

50.000 50.000

50.000 -

-

A+ A

AA+ A-

A+ A-

50.000 40.300 35.000

10.000 40.723 35.000

30.453 35.000

AAA+

A+ -

A+ -

32.000 24.959

3.000 -

7.000 -

A+

A-

A-

22.000

25.000

25.000

AAABBB

A+ BBB+ BBB+

A -

15.000 13.000 10.000

25.000 13.000 10.000

25.000 -

59

Rupiah: Held-to-maturity Bank Indonesia Certificates Government bonds Indonesia Retail Bond Wadiah Bank Indonesia Certificates PT Bakrie Land Development Tbk PT Japfa Comfeed Indonesia Tbk PT Bank Mega Tbk PT Bank Pan Indonesia Tbk PT Jasa Marga (Persero) PT Bank Permata Tbk PT Federal International Finance PT Bank OCBC NISP Tbk PT Wahana Ottomitra Multiartha Tbk PT Adira Dinamika Multi Finance Tbk PT Bank DKI PT BNI Securities




7.

SURAT-SURAT BERHARGA (lanjutan) c.

7.

Berdasarkan tujuan, peringkat, dan mata uang (lanjutan)

MARKETABLE SECURITIES (continued) c. By purpose, rating, and currency (continued) Nilai tercatat (dimiliki hingga jatuh tempo)/Nilai wajar (diperdagangkan)/ Carrying value (held–to-maturity)/Fair value (trading)

Peringkat/Rating 2008 PT Bank Mayapada International Tbk PT Indosat Tbk. PT Bank Ekspor Indonesia (Persero) PT Bosowa Trading International PT Aplikanusa Lintasarta PT Bank Syariah Mandiri PT BPD Jawa Timur PT Bank Tabungan Negara (Persero)

Diperdagangkan Obligasi Ritel Indonesia PT Bank Ekspor Indonesia (Persero) PT Bank Tabungan Negara (Persero) PT Jasa Marga (Persero)

2007

2006

2008

Diperdagangkan: PGN Euro Finance 2003 Limited PT Bank CIMB Niaga Tbk (dahulu PT Bank Niaga Tbk) dan PT Bank Lippo Tbk) Seri INDO 0014

2006

Baa1 -

-

10.000 10.000

10.000 -

-

A+

A-

A-

9.000

20.290

9.000

-

BBB+ A-

BBB+ A-

8.298 3 -

5.819 3 20.000 1.000

4.811 3 20.000 1.000

-

A+

-

-

11.309

-

4.449.036

6.559.860

10.280.378

-

-

-

-

113.549

82.858

-

-

A-

-

-

11.165

-

-

A A+

-

-

11.110 11.073

Jumlah Dolar Amerika Serikat Dimiliki hingga jatuh tempo Obligasi Pemerintah PT Bank CIMB Niaga Tbk (dahulu PT Bank Niaga Tbk dan PT Bank Lippo Tbk) PT Mitindo Paper Plastic Industry PT Bank Negara Indonesia (Persero) Tbk PT Bank Mandiri (Persero) Tbk PT Sri Rejeki Tekstil PGN Euro Finance 2003 Limited

2007

A2 AA+

-

113.549

116.206

4.449.036

6.673.409

10.396.584

-

-

-

8.360

A-

-

-

10.900

-

-

-

-

-

1.725

-

-

Ba3

-

-

49.306

-

-

Ba3 -

-

-

9.430 292

Ba3

-

-

54.940

-

74.200

1.725

60.681

27.507

Ba3

-

-

28.707

-

Ba2 -

-

-

9.640 7.291


45.638

43.752

47.363

104.433

4.523.236

6.720.772

10.501.017

Peringkat untuk obligasi yang terdaftar di Bursa Efek lndonesia (dahulu Bursa Efek Surabaya) berdasarkan peringkat yang dilaporkan oleh PT Pemeringkat Efek Indonesia (Pefindo), sedangkan peringkat untuk obligasi lain yang tidak terdaftar di Bursa Efek Indonesia berdasarkan peringkat obligasi yang dilaporkan oleh Moody’s dan Standard & Poor’s.

(5.164) 6.715.608

PT Bank Negara Indonesia (Persero) Tbk PT Bank Mandiri (Persero) Tbk PT Sri Rejeki Tekstil

Trading: PGN Euro Finance 2003 Limited PT Bank CIMB Niaga Tbk (formerly PT Bank Niaga Tbk 9.189 and PT Bank Lippo Tbk) 7.056 INDO 0014 series

-

(5.204)

Total

- PGN Euro Finance 2003 Limited

74.200

4.518.032

Trading Indonesia Retail Bonds PT Bank Ekspor Indonesia (Persero) PT Bank Tabungan Negara (Persero) PT Jasa Marga (Persero)

United States Dollar: Held-to-maturity Government bonds PT Bank CIMB Niaga Tbk (formerly PT Bank Niaga Tbk and PT Bank Lippo Tbk) PT Mitindo Paper 1.653 Plastic Industry

-

-

PT Bank Mayapada International Tbk PT Indosat Tbk PT Bank Ekspor Indonesia (Persero) PT Bosowa Trading International PT Aplikanusa Lintasarta PT Bank Syariah Mandiri PT BPD Jawa Timur PT Bank Tabungan Negara (Persero)

(4.672)


10.496.345

The ratings of the bonds which are registered in the Indonesia Stock Exchange (formerly Surabaya Stock Exchange) are determined by PT Pemeringkat Efek Indonesia (Pefindo) and the ratings of the bonds which are not registered in the Indonesia Stock Exchange are determined by Moody’s and Standard & Poor’s.

60




7.

SURAT-SURAT BERHARGA (lanjutan) d.

7.

Berdasarkan jatuh tempo

d. By maturity 2008

Pihak ketiga: Rupiah: ≤ 1 bulan > 1 - 3 bulan > 3 bulan - 1 tahun > 1 - 5 tahun > 5 - 10 tahun > 10 tahun Dolar Amerika Serikat: ≤ 1 bulan > 1 - 5 tahun > 5 - 10 tahun


2007

2006

3.410.397 3.900 110.073 739.010 185.656 -

5.964.321 56.970 476.915 124.821 50.382

10.115.900 4.811 4.000 165.411 55.059 51.403

4.449.036

6.673.409

10.396.584

54.940 19.260

1.725 45.638

45.697 58.736

74.200

47.363

104.433

4.523.236

6.720.772

10.501.017 (5.164 )

(5.204) 4.518.032

e.


6.715.608

Berdasarkan surat berharga pemerintah dan bukan pemerintah 2008 Surat berharga Pemerintah: Sertifikat Bank Indonesia Oblligasi Pemerintah Obligasi Ritel Indonesia Sertifikat Wadiah Bank Indonesia Obligasi Seri INDO 2014

Surat berharga bukan Pemerintah: PT Bakrie Land Development Tbk PGN Euro Finance 2003 Limited PT Japfa Comfeed Indonesia Tbk PT Bank Mega Tbk PT Bank Pan Indonesia Tbk PT Jasa Marga (Persero) PT Bank Permata Tbk PT Federal International Finance PT Bank OCBC NISP Tbk PT Wahana Ottomitra Multiartha Tbk PT Adira Dinamika Multi Finance Tbk

Third parties: Rupiah: ≤ 1 month > 1 - 3 months > 3 months - 1 year > 1 - 5 years > 5 - 10 years > 10 years United States Dollar: ≤ 1 month > 1 - 5 year > 5 - 10 years

Total (4.672

10.496.345

e.

By government securities

2007

and

non

government

2006

3.279.096 411.532 223.848

331.779 113.549

5.828.937 123.419 82.858

80.000 8.360

119.000 7.291

73.000 7.056

4.002.836

6.400.556

10.213.025

Government securities: 9.926.692 Government bonds Indonesia Retail Bond Wadiah Bank Indonesia Certificates Obligasi Seri INDO 2014

Non-government securities: 75.000

-

-

PT Bakrie Land Development Tbk

54.940

28.707

27.507

PGN Euro Finance 2003 Limited

50.000 50.000

50.000 -

-

PT Japfa Comfeed Indonesia Tbk PT Bank Mega Tbk

50.000 40.300

10.000 40.723

41.526

35.000

35.000

35.000

PT Bank Permata Tbk

32.000 24.959

3.000 -

7.000 -

PT Federal International Finance PT Bank OCBC NISP Tbk

22.000

25.000

25.000


15.000

25.000

25.000

PT Adira Dinamika Multi Finance Tbk

61

)




7.

SURAT-SURAT BERHARGA (lanjutan) e.

7.

Berdasarkan surat berharga pemerintah dan bukan pemerintah (lanjutan) 2008 Surat berharga bukan Pemerintah (lanjutan): PT Bank DKI PT BNI Securities PT Bank Mayapada Internasional Tbk PT Bank CIMB Niaga Tbk (dahulu PT Bank Niaga Tbk dan PT Bank Lippo Tbk) PT Bosowa Trading International Tbk PT Indosat Tbk PT Bank Ekspor Indonesia (Persero) PT Aplikanusa Lintasarta PT Bank Syariah Mandiri PT Bank Tabungan Negara (Persero) PT BPD Jawa Timur PT Mitindo Paper Plastic Industry PT Sri Rejeki Tekstil PT Bank Negara Indonesia (Persero) Tbk PT Bank Mandiri (Persero) Tbk


e.

-

10.000

10.000

-

10.900

9.640

9.189

PT Bank Mayapada Internasional Tbk PT Bank CIMB Niaga Tbk (formerly PT Bank Niaga Tbk and PT Bank Lippo Tbk)

8.298 10.000

5.819 -

4.811 -

PT Bosowa Trading International Tbk PT Indosat Tbk

9.000

20.290

20.165 3

PT Bank Ekspor Indonesia (Persero) PT Aplikanusa Lintasarta PT Bank Syariah Mandiri

3 -

20.000

20.000

-

11.309 1.000

11.110 1.000

PT Bank Tabungan Negara (Persero) PT BPD Jawa Timur

-

1.725 -

1.653 292

-

-

49.306

PT Mitindo Paper Plastic Industry PT Sri Rejeki Tekstil PT Bank Negara Indonesia (Persero) Tbk

-

-

9.430

PT Bank Mandiri (Persero) Tbk

3

520.400

320.216

287.992

4.523.236

6.720.772

10.501.017 (5.164 )

(5.204) 6.715.608

Total

(4.672

10.496.345

f.

2008

Dolar Amerika Serikat: Oblligasi korporasi Oblligasi Pemerintah

Non-government securities (continued): PT Bank DKI PT BNI Securities

13.000 10.000

By collectibility All marketable securities as at December 31, 2008, 2007, and 2006 are classified as Current, except for the export bills of PT Mitindo Paper Plastic Industry which was classified as Loss amounting Rp1,725 and Rp1,653 in 2007 and 2006, respectively.

Tingkat suku bunga rata-rata per tahun:

Sertifikat Bank Indonesia 11,72% Certificates

government

13.000 10.000


Rupiah: Wesel SKBDN Oblligasi korporasi Oblligasi Pemerintah - suku bunga tetap

non

2006

Pada tanggal-tanggal 31 Desember 2008, 2007, dan 2006, seluruh surat-surat berharga diklasifikasikan Lancar, kecuali tagihan wesel ekspor PT Mitindo Paper Plastic Industry yang diklasifikasikan Macet masing-masing sebesar Rp1.725 dan Rp1.653 pada tahun 2007 dan 2006. g.

By government and securities (continued)

2007

4.518.032

f.


g. Average annual interest rates: 2007

2006

13,23% 11,08%

14,23% 12,78%

13,20% 13,29%

9,10%

12,79%

13,38%

9,06%

Rupiah: Domestic letters of credit (SKBDN) Corporate bonds Government bonds - fixed rate Bank Indonesia

7,66%

7,30%

8,60%

62

8,10%

United States Dollar: Corporate bonds Government bonds



PT BANK BUKOPIN TBK. DAN ANAK-ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tahun yang Berakhir pada Tanggal-tanggal 31 Desember 2008 dan 2006 Dengan Angka Perbandingan Untuk 2007 (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain) - suku bunga tetap

7,75%

7,75%

63

5,19%

- fixed rate




7.

SURAT-SURAT BERHARGA (lanjutan) h.

7.


h. Movements in allowance for losses

2008 Rupiah: Saldo awal Penyisihan selama tahun berjalan (Catatan 32)

Dolar Amerika Serikat: Saldo awal (Pemulihan) penyisihan selama tahun berjalan (Catatan 32) Selisih kurs karena penjabaran mata uang asing

8.


2007 3.015

2006 2.018

1.447

997

824

4.462

3.015

2.018

2.149

2.654

1.276

(1.438)

Rupiah: Beginning balance Provision during the year (Note 32)

1.194

(619)

United States Dollar: Beginning balance (Reversal) provision during the year (Note 32)

1.519

31

114

(141)

742

2.149

2.654

5.204

5.164

4.672



Management believe that the allowance for losses is adequate.

Berdasarkan Surat Bank Indonesia No. 10/177/DpG/DPNP tanggal 9 Oktober 2008 perihal penetapan nilai wajar dan Reklasifikasi Surat Utang Negara (SUN), pada tanggal 29 Oktober 2008, Bank telah melakukan reklasifikasi surat berharga diperdagangkan dengan nilai nominal sebesar Rp22.250 ke surat berharga dimiliki hingga jatuh tempo. Nilai wajar surat berharga diperdagangkan pada tanggal reklasifikasi sebesar Rp19.379. Apabila surat berharga tersebut tetap diklasifikasikan sebagai surat berharga diperdagangkan, maka nilai wajar per 31 Desember 2008 adalah sebesar Rp21.976 sehingga memiliki dampak terhadap laporan laba rugi konsolidasian sebesar Rp2.597.

Based on Bank Indonesia Letter No. 10/177/DpG/DPNP dated on October 9, 2008 in connection with fair value and reclassification of Surat Utang Negara (SUN), on October 29, 2008, the Bank has reclassed trading marketable securities with face value of Rp22,250 to held-to-maturity marketable securities. Fair value of trading marketable securities on reclassification date was Rp19,379. If the marketable securities remained as trading marketable securities, fair value as of December 31, 2008 would be Rp21,976 and will affect consolidated statement of income for Rp2,597.

SURAT-SURAT BERHARGA YANG DENGAN JANJI DIJUAL KEMBALI

Jangka waktu/ Period

Tanggal dimulai/ Start date

DIBELI

8.

MARKETABLE SECURITIES PURCHASED WITH AGREEMENTS TO RESELL

Harga jual kembali/ Reselling price

Tanggal jatuh tempo/ Due date

Bunga yang belum direalisasi/ Unrealized interest

Nilai bersih/ Net value

Rupiah:

Rupiah:

2008

2008

PT Mandiri Sekuritas Obligasi Pemerintah

PT Mandiri Sekuritas Government Bonds

- Seri FR040

42 hari/days

- Seri FR044

22 hari/days

- Seri FR048

22 hari/days

- Seri FR039

22 hari/days

- Seri FR028

22 hari/days

27 Nov./ Nov. 2008 4 Des./ Dec. 2008 4 Des./ Dec. 2008 11 Des./ Dec. 2008 11 Des./ Dec. 2008

8 Jan./ Jan. 2009 13 Jan./ Jan. 2009 13 Jan./ Jan. 2009 12 Jan./ Jan. 2009 12 Jan./ Jan. 2009

64

17.680

-

17.680

Series FR040 -

6.658

4

6.654

Series FR044 -

33.950

50

33.900

Series FR048 -

8.620

10

8.610

Series FR039 -

17.258

29

17.229

Series FR028 -

84.166

93

84.073




8.

SURAT-SURAT BERHARGA YANG DIBELI DENGAN JANJI DIJUAL KEMBALI (lanjutan)

Jangka waktu/ Period

Tanggal dimulai/ Start date

8.

MARKETABLE SECURITIES PURCHASED WITH AGREEMENTS TO RESELL (continued)

Harga jual kembali/ Reselling price

Tanggal jatuh tempo/ Due date

Bunga yang belum direalisasi/ Unrealized interest


Rupiah: 2007 PT Mandiri Sekuritas Obligasi Pemerintah - Seri FR036 2006 PT Mandiri Sekuritas Obligasi Pemerintah - Seri FR040

Rupiah: 2007

22 hari/days

18 Des./ Dec. 2007

9 Jan./ Jan. 2007

21 hari/days

15 Des./ Dec. 2007

5 Jan./ Jan. 2007

33.042

9

25.957

10

33.033

PT Mandiri Sekuritas Government Bonds Series FR036

25.947

2006 PT Mandiri Sekuritas Government Bonds Series FR040

Dolar Amerika Serikat:

United State Dollar:

2008

2008

PT Mandiri Sekuritas Obligasi Pemerintah - Seri Indo 14

9.

79 hari/days

16 Des./ Dec. 2008

5 Mar./ March. 2009

26.814

TAGIHAN DAN KEWAJIBAN DERIVATIF

9.

Rincian transaksi derivatif atas swap dan forward dan kontrak berjangka mata uang asing pada tanggal 31 Desember 2008, 2007, dan 2006 adalah sebagai berikut:

-

26.814

PT Mandiri Sekuritas Government Bonds Series Indo 14

DERIVATIVE RECEIVABLES AND PAYABLES Details of foreign currency swaps and forward as at December 31, 2008, 2007, and 2006 are as follows:

2008 Nilai Kontrak/ Contract Amount

Pihak Pihak ketiga Swap mata uang asing Dolar Amerika Serikat Citibank N.A., Jakarta Standard Chartered Bank, Jakarta Yen Jepang Standard Chartered Bank, Singapura Sumitomo Mitsui Banking Corporation, Singapura Euro Sumitomo Mitsui Banking Corporation, Singapura Standard Chartered Bank, Jakarta PT Bank Ekspor Indonesia (Persero) Sumitomo Mitsui Banking Corporation, Jakarta

Tagihan Derivatif/ Derivative Receivables

Nilai Wajar/ Fair Value

Third parties Foreign currency swap United States Dollar Citibank N.A., Jakarta - Standard Chartered Bank, Jakarta

8.516 4.634

8.516 4.634

1.817

33

33

-

2.458

(*)

(*)

-

Japanese Yen Standard Chartered Bank, Singapore Sumitomo Mitsui Banking Corporation, Singapore Euro

4.738 55.500

110 (1.000)

110 -

55.450

(950)

-

16.632

(282)

-

304

13.293

Sumitomo Mitsui Banking Corporation, Singapore 1.000 Standard Chartered Bank, Jakarta PT Bank Ekspor Indonesia 950 (Persero) Sumitomo Mitsui Banking 282 Corporation, Jakarta 2.232

(1)

-

1

11.060

13.293

2.233

Penyisihan kerugian

(133) 13.160

*)

Counterparties

337.367 170.650

11.061 Pihak yang mempunyai hubungan istimewa Kontrak berjangka mata uang asing Dolar Amerika Serikat Pejabat eksekutif

Kewajiban Derivatif/ Derivative Payables

Kurang dari Rp1

*)

65

Less than Rp1

2.233

Related parties Foreign currency forward United States Dollar Executive officers

Allowance for losses




9.

TAGIHAN (lanjutan)

DAN

KEWAJIBAN

DERIVATIF

9.

DERIVATIVE RECEIVABLES AND PAYABLES (continued)

2007

Pihak Pihak ketiga Dolar Amerika Serikat Standard Chartered Bank, Jakarta PT Bank Artha Graha Internasional Tbk PT Bank Permata Tbk PT Bank DBS Indonesia PT Bank Mandiri (Persero) Tbk PT Bank Danamon Indonesia Tbk PT Bank Negara Indonesia (Persero) Tbk PT Bank DBS Indonesia PT Bank Permata Tbk PT Bank Mandiri (Persero) Tbk PT Bank Danamon Indonesia Tbk PT Bank Negara Indonesia (Persero) Tbk

Nilai Kontrak/ Contract Amount




Counterparties

47.240

268

268

-

18.558 75.320 75.296 65.891 47.065

235 164 140 129 92

235 164 140 129 92

-

47.060 122.339 75.328 65.891 47.068

88 (211) (172) (129) (95)

88 -

211 172 129 95

47.065

(92) 417

Penyisihan kerugian

-

92

1.116

699

(17) 1.099

-

Third parties United States Dollar Standard Chartered Bank, Jakarta PT Bank Artha Graha Internasional Tbk PT Bank Permata Tbk PT Bank DBS Indonesia PT Bank Mandiri (Persero) Tbk PT Bank Danamon Indonesia Tbk PT Bank Negara Indonesia (Persero) Tbk PT Bank DBS Indonesia PT Bank Permata Tbk PT Bank Mandiri (Persero) Tbk PT Bank Danamon Indonesia Tbk PT Bank Negara Indonesia (Persero) Tbk


699

2006

Pihak Pihak ketiga Dolar Amerika Serikat: PT Bank Mandiri (Persero) Tbk Deutsche Bank AG, Jakarta Standard Chartered Bank, Jakarta PT Bank DBS Indonesia PT Bank Sumitomo Mitsui Indonesia Yen Jepang PT Bank Sumitomo Mitsui Corporation, Singapura

Nilai Kontrak/ Contract Amount




Counterparties

90.790 45.500 45.395 45.195

760 485 374 180

760 485 374 180

-

45.160

145

145

-

107.395

(260) 1.684

Penyisihan kerugian

-

260

1.944

260

(19) 1.925

-

Third parties United States Dollar PT Bank Mandiri (Persero) Tbk Deutsche Bank AG, Jakarta Standard Chartered Bank, Jakarta PT Bank DBS Indonesia PT Bank Sumitomo Mitsui Indonesia Japanese Yen PT Bank Sumitomo Mitsui Corporation, Singapura


260

Kontrak-kontrak tersebut di atas jatuh tempo pada berbagai tanggal dan terakhir pada tanggal 10 Maret 2009 (2007: 14 Januari 2008; 2006: 4 Januari 2007).

These contracts have various due dates and the latest being March 10, 2009 (2007: January 14, 2008; 2006: January 4, 2007).

Seluruh tagihan derivatif diklasifikasikan lancar pada tanggal 31 Desember 2008, 2007, dan 2006.

All derivative receivables as at December 31, 2008, 2007, and 2006 are classified as current.

66




9.

TAGIHAN (lanjutan)

DAN

KEWAJIBAN

DERIVATIF

9.

DERIVATIVE RECEIVABLES AND PAYABLE (continued)

Perubahan penyisihan kerugian tagihan derivatif adalah sebagai berikut:

Movements in allowance for losses on derivative receivables are as follows:

2008 Saldo awal Penyisihan (pemulihan) selama tahun berjalan (Catatan 32)

2007 17

6

116

(2)

13

133

17

19



mata

Beginning balance Provision (reversal) during the year (Note 32)


10. KREDIT YANG DIBERIKAN a.

2006 19

10. LOANS uang,

jenis,

dan

a. By currency, type, and collectibility 2008

Lancar/ Current

Dalam Perhatian Khusus/ Special Mention

Kurang Lancar/ Substandard

Diragukan/ Doubtful

Macet/ Loss

Jumlah/ Total

Rupiah: Modal kerja Investasi Konsumsi Program permerintah Sindikasi Direksi dan karyawan Bank lain

11.997.453 3.965.882 1.820.739 1.036.164 221.386 51.524 9.160

273.529 333.781 160.180 88.730 -

57.604 254.695 16.109 10.676 -

22.446 24.502 14.074 7.970 -

391.528 147.743 78.849 90.564 -

12.742.560 4.726.603 2.089.951 1.234.104 221.386 51.524 9.160

Jumlah Rupiah Penyisihan kerugian

19.102.308 (440.886)

856.220 (15.614)

339.084 (2.728)

68.992 (8.433)

708.684 (155.846)

21.075.288 (623.507)

Bersih

18.661.422

840.606

336.356

60.559

552.838

20.451.781

Net

819.863 878.785 230.771

37.315 -

-

-

-

819.863 916.100 230.771

Foreign currencies: Working capital Investment Syndicated

1.929.419 (16.458)

37.315 (700)

-

-

-

1.966.734 (17.158)

Total foreign currencies Allowance for losses Net

Mata uang asing: Modal kerja Investasi Sindikasi Jumlah mata uang asing Penyisihan kerugian Bersih

1.912.961

36.615

-

-

-

1.949.576

20.574.383

877.221

336.356

60.559

552.838

22.401.357

67

Rupiah: Working capital Investment Consumer Government program Syndicated Directors and employees Other banks Total Rupiah Allowance for losses




10. KREDIT YANG DIBERIKAN (lanjutan) a.

Berdasarkan mata uang, kolektibilitas (lanjutan)

10. LOANS (continued)

jenis,

dan

a. By currency, (continued)

type,

and

collectibility

2007

Lancar/ Current



Diragukan/ Doubtful

Macet/ Loss

Jumlah/ Total

Rupiah: Modal kerja Investasi Konsumsi Program permerintah Sindikasi Direksi dan karyawan Bank lain

10.976.872 3.233.650 1.493.908 732.996 93.100 39.277 14.117

221.847 92.511 102.921 24.625 -

21.457 33.276 11.599 5.568 -

16.516 16.507 13.766 7.596 -

245.325 149.278 61.395 101.268 -

11.482.017 3.525.222 1.683.589 872.053 93.100 39.277 14.117


16.583.920 (105.410)

441.904 (19.327)

71.900 (2.351)

54.385 (6.307)

557.266 (198.337)

17.709.375 (331.732)

Bersih

16.478.510

422.577

69.549

48.078

358.929

17.377.643

Net Foreign currencies: Working capital Investment Syndicated

Mata uang asing: Modal kerja Investasi Sindikasi Jumlah mata uang asing Penyisihan kerugian Bersih

528.778 770.110 139.655

-

-

-

-

528.778 770.110 139.655

1.438.543 (14.844)

-

-

-

-

1.438.543 (14.844)

1.423.699

-

-

-

-

1.423.699

17.902.209

422.577

69.549

48.078

358.929

18.801.342

Rupiah: Working capital Investment Consumer Government program Syndicated Directors and employees Other banks Total Rupiah Allowance for losses


2006

Lancar/ Current Rupiah: Modal kerja Investasi Konsumsi Program permerintah Sindikasi Direksi dan karyawan Bank lain Subordinasi



Diragukan/ Doubtful

Macet/ Loss

Jumlah/ Total Rupiah: Working capital Investment Consumer Government program Syndicated Directors and employees Other banks Subordinated

8.467.898 2.110.604 1.069.951 668.218 190.962 12.836 21.353 514

316.659 215.852 68.849 30.294 -

9.742 21.506 8.685 3.579 -

57.404 3.967 8.645 7.921 -

97.072 159.736 46.144 87.526 33.200 -

8.948.775 2.511.665 1.202.274 797.538 224.162 12.836 21.353 514


12.542.336 (75.674)

631.654 (11.680)

43.512 (1.763)

77.937 (12.153)

423.678 (163.792)

13.719.117 (265.062)

Bersih

12.466.662

619.974

41.749

65.784

259.886

13.454.055

Net

436.007 491.039 36.012 812

Foreign currencies: Working capital Investment Syndicated Consumer

Mata uang asing: Modal kerja Investasi Sindikasi Konsumsi

436.007 491.039 36.012 812

Jumlah mata uang asing 963.870 Penyisihan kerugian (9.330) Bersih

-

-

-

-

-

-

-

963.870 -

Total foreign currencies (9.330) Allowance for losses

954.540

-

-

-

-

954.540

13.421.202

619.974

41.749

65.784

259.886

14.408.595

68

Total Rupiah Allowance for losses

Net




10. KREDIT YANG DIBERIKAN (lanjutan) b.


Berdasarkan sektor ekonomi

b. By economic sector 2008

Lancar/ Current Rupiah: Perdagangan Jasa Konstruksi Pertanian Manufaktur Transportasi Tenaga listrik Pertambangan Lain-lain



Diragukan/ Doubtful

Macet/ Loss

Jumlah/ Total Rupiah: Trading Business service Construction Agriculture Manufacturing Transportation Power supply Mining Others

8.063.753 3.508.429 2.626.123 985.185 768.970 722.172 478.380 42.518 1.906.778

123.603 242.436 178.817 10.686 85.471 54.688 338 160.181

11.768 7.831 14.322 275.018 11.944 2.099 16.102

11.520 35.444 1.708 666 2.377 1.251 529 1.425 14.072

135.385 47.184 239.496 72.660 111.715 23.119 20 258 78.847

8.346.029 3.841.324 3.060.466 1.344.215 980.477 803.329 478.929 44.539 2.175.980


19.102.308 (440.886)

856.220 (15.614)

339.084 (2.728)

68.992 (8.433 )

708.684 (155.846 )

21.075.288 (623.507)

Bersih

18.661.422

840.606

336.356

60.559

552.838

20.451.781

Net

261.570 356.274 556.635 29.144 74.043 45.540 643.528

Foreign currencies: Trading Business service Construction Manufacturing Transportation Power supply Mining

Mata uang asing: Perdagangan Jasa Konstruksi Manufaktur Transportasi Tenaga listrik Pertambangan

224.255 356.274 556.635 29.144 74.043 45.540 643.528

37.315 -

Jumlah mata uang asing 1.929.419 37.315 Penyisihan kerugian (16.458) Bersih

-

-

(700)

-

-

1.966.734

-

-


Total foreign currencies (17.158) Allowance for losses

1.912.961

36.615

-

-

-

1.949.576

20.574.383

877.221

336.356

60.559

552.838

22.401.357

Net

2007




Diragukan/ Doubtful

Macet/ Loss

Jumlah/ Total Rupiah: Trading Business Service Construction Agriculture Manufacturing Transportation Power supply Mining Others

7.748.910 2.884.729 2.022.414 1.050.883 601.563 512.764 198.293 32.172 1.532.192

50.160 36.089 168.897 17.362 46.060 19.387 103.949

18.962 4.079 26.100 2.300 3.256 5.063 51 12.089

10.516 17.567 1.097 1.868 1.816 7.068 340 14.113

104.868 49.576 125.666 73.484 113.311 16.295 11.623 62.443

7.933.416 2.992.040 2.344.174 1.145.897 766.006 560.577 209.967 32.512 1.724.786


16.583.920 (105.410)

441.904 (19.327)

71.900 (2.351)

54.385 (6.307)

557.266 (198.337)

17.709.375 (331.732)

Bersih

16.478.510

422.577

69.549

48.078

358.929

17.377.643

Net Foreign currencies: Trading Business service Construction Manufacturing Transportation Power supply Mining

Mata uang asing: Perdagangan Jasa Konstruksi Manufaktur Transportasi Tenaga listrik Pertambangan Jumlah mata uang asing Penyisihan kerugian Bersih

221.100 114.425 312.285 45.603 50.447 45.274 649.409

-

-

-

-

221.100 114.425 312.285 45.603 50.447 45.274 649.409

1.438.543 (14.844)

-

-

-

-

1.438.543 (14.844)

1.423.699

-

-

-

-

1.423.699

17.902.209

422.577

69.549

48.078

358.929

18.801.342

69






10. KREDIT YANG DIBERIKAN (lanjutan) b.


Berdasarkan sektor ekonomi (lanjutan)

b. By economic sector (continued) 2006



Diragukan/ Doubtful

Macet/ Loss

Jumlah/ Total

6.019.365 2.206.059 1.333.332 530.945 624.617 529.528 174.339 34.018 1.090.133

34.751 50.033 253.200 174.921 32.995 14.190 71.564

4.988 7.674 170 101 15.308 6.238 242 8.791

56.325 3.584 1.130 1.687 3.348 2.797 50 9.016

48.353 25.716 70.311 117.714 97.197 7.412 9.844 47.131

6.163.782 2.293.066 1.658.143 825.368 773.465 560.165 174.339 44.154 1.226.635


12.542.336 (75.674)

631.654 (11.680)

43.512 (1.763)

77.937 (12.153)

423.678 (163.792)

13.719.117 (265.062)

Bersih

12.466.662

619.974

41.749

65.784

259.886

13.454.055

Mata uang asing: Perdagangan Jasa Konstruksi Manufaktur Transportasi Tenaga listrik Pertambangan Lain-lain

216.396 101.062 117.413 148.774 52.609 23.090 303.714 812

-

-

-

-

216.396 101.062 117.413 148.774 52.609 23.090 303.714 812

Jumlah mata uang asing Penyisihan kerugian

963.870 (9.330)

-

-

-

-

963.870 (9.330)

Bersih

c.


954.540

-

-

-

-

954.540

13.421.202

619.974

41.749

65.784

259.886

14.408.595

Berdasarkan jangka waktu

Mata uang asing: ≤ 1 tahun > 1 - 2 tahun > 2 - 5 tahun > 5 tahun



Foreign currencies: Trading Business service Construction Manufacturing Transportation Power supply Mining Others Total foreign currencies Allowance for losses Net

c. By maturity 2008

Rupiah: ≤ 1 tahun > 1 - 2 tahun > 2 - 5 tahun > 5 tahun

Rupiah: Trading Business Service Construction Agriculture Manufacturing Transportation Power supply Mining Others

2007

2006

9.705.480 1.579.455 6.103.665 3.686.688

8.994.696 984.528 4.707.311 3.022.840

7.193.314 752.003 3.545.972 2.227.828

21.075.288

17.709.375

13.719.117

694.622 183.663 459.306 629.143

478.499 40.155 543.982 375.907

178.095 174.312 467.583 143.880

1.966.734

1.438.543

963.870

23.042.022

19.147.918 (640.665)

14.682.987 (346.576 )

18.801.342

14.408.595

22.401.357

70

Rupiah: ≤ 1 year > 1 - 2 years > 2 - 5 years > 5 years

Foreign currencies: ≤ 1 year > 1 - 2 years > 2 - 5 years > 5 years

(274.392

Total )




10. KREDIT YANG DIBERIKAN (lanjutan) d.



d. By remaining period to maturity

2008 Rupiah: ≤ 1 tahun > 1 - 2 tahun > 2 - 5 tahun > 5 tahun Mata uang asing: ≤ 1 tahun > 1 - 2 tahun > 2 - 5 tahun > 5 tahun


2007

11.247.888 2.078.157 4.704.771 3.044.472

9.975.153 1.665.960 3.980.777 2.087.485

8.183.909 1.141.829 2.840.948 1.552.431

21.075.288

17.709.375

13.719.117

610.577 257.488 558.237 540.432

577.785 61.660 456.971 342.127

276.190 307.904 254.920 124.856

1.966.734

1.438.543

963.870

23.042.022

19.147.918 (640.665)

14.682.987 (346.576 )

18.801.342

14.408.595

22.401.357

e.

Kredit yang bermasalah

Kurang lancar Diragukan Macet Jumlah kredit yang diberikan dan pembiayaan/piutang Syariah Persentase kredit bermasalah yang diberikan dan pembiayaan/piutang Syariah - kotor Persentase kredit bermasalah yang diberikan dan pembiayaan/piutang Syariah - bersih

2007

Foreign currencies: ≤ 1 year > 1 - 2 years > 2 - 5 years > 5 years

Total (274.392

)

2006

339.084 68.992 708.684

71.900 54.385 557.266

43.512 77.937 423.678

1.116.760

683.551

545.127

23.042.022

19.147.918

14.682.987

Sub-standard Doubtful Loss

Total loans and Sha

4,85%

3,57%

4,12%

2,49%

Pembiayaan Syariah

f.

Rincian pembiayaan/piutang Syariah pada tanggal 31 Desember 2008, 2007, dan 2006 adalah sebagai berikut: 2008 Piutang Murabahah Pembiayaan Mudharabah Piutang Musyarakah Piutang Istisna Piutang Qardh

Rupiah: ≤ 1 year > 1 - 2 years > 2 - 5 years > 5 years

e. Non-performing loan 2008

f.

2006

receivables

3,71%

Percentage of non-performing loans (NPL) and Sharia financing/ receivables - gross

3,71%

Percentage of non-performing loans (NPL) and Sharia financing/ receivables - net

Sharia financing As at December 31, 2008, 2007, and 2006 the details of Sharia financing/receivables are as follows:

2007

2006

672.676 67.436 74.301 2.425 602

368.393 69.331 20.607 14

300.013 60.593 1.790 710

817.440

458.345

363.106

71

Murabahah receivables Mudharabah financing Musyarakah receivables Istisna receivables Qardh receivables




10. KREDIT YANG DIBERIKAN (lanjutan) g.


Kredit sindikasi

g. Syndicated loans

Kredit sindikasi merupakan kredit yang diberikan kepada nasabah di bawah perjanjian pembiayaan bersama dengan bank-bank lain. Keikutsertaan Bank sebagai anggota sindikasi dengan persentase penyertaan pada tahun 2008 berkisar antara 2% sampai dengan 71% (2007: berkisar antara 20% sampai dengan 80%; 2006: berkisar antara 16% sampai dengan 85%) dari jumlah kredit sindikasi. Risiko atas kredit sindikasi ditanggung secara proporsional oleh bank-bank peserta. h.

Syndicated loans represent loans provided to customers under syndication agreements with other banks. The Bank’s shares as a member in syndicated loans were 2% to 71% in 2008 (2007: 20% to 80%; 2006: 16% to 85%) of the total syndicated loans. Risks from syndicated loans are shared proportionately by the participating banks.

Tingkat bunga

h. Interest rates

Suku bunga rata-rata per tahun untuk kredit yang diberikan dalam Rupiah pada tahun 2008 adalah 14,60% (2007: 16,33%; 2006: 17,99%). Untuk kredit yang diberikan dalam mata uang asing suku bunga rata-rata pada tahun 2008 adalah 7,52% (2007: 7,43%; 2006: 7,33%). i.

Kredit kepada pihak hubungan istimewa

yang

Average annual interest rates of loans for Rupiah in 2008 was 14.60% (2007: 16.33%; 2006: 17.99%). Average annual interest rates of loans in foreign currency in 2008 was 7.52% (2007: 7.43%; 2006: 7.33%).

memiliki

i.

Kredit yang diberikan termasuk pembiayaan/piutang Syariah kepada pihakpihak yang mempunyai hubungan istimewa pada tanggal 31 Desember 2008 adalah sebesar Rp30.303 (2007: Rp5.428.750; 2006: Rp4.731.910) (Catatan 38). Rincian kredit yang diberikan kepada pihak yang mempunyai hubungan istimewa berdasarkan jenis adalah sebagai berikut: 2008 Modal kerja Investasi Bank lain Subordinasi Direksi, Dewan Komisaris, Dewan Pengawas Syariah dan Pejabat Eksekutif Jumlah Penyisihan kerugian

Loans to related parties

Loans to related parties including Sharia financing/receivables as at December 31, 2008 amounted to Rp30,303 (2007: Rp5,428,750; 2006: Rp4,731,910) (Note 38). The details of loans to related parties based on type of loan are as follows:

2007

12.143 4.410 -

2006

5.403.668 10.602 -

4.718.648 5.361 1.548 514

13.750

14.480

5.839

Working capital Investments Other banks Subordinated, Directors, Commissioners Sharia Supervisory Board and Executive Officers

30.303

5.428.750

4.731.910 )

Total (191

(303) 30.000

(379 5.428.371

72

4.731.719

)




10. KREDIT YANG DIBERIKAN (lanjutan) i.

Kredit kepada pihak yang hubungan istimewa (lanjutan)

10. LOANS (continued) memiliki

i.

Kredit modal kerja termasuk pembiayaan pengelolaan komoditi Pemerintah yang ditugaskan kepada Badan Urusan Logistik (BULOG) sebesar Rp5.003.321 pada tanggal 31 Desember 2007 (2006: Rp4.550.488). Berdasarkan instruksi Presiden Republik Indonesia No. 8 tahun 1990, kredit tersebut dijamin oleh Menteri Keuangan Republik Indonesia dan dikecualikan dalam perhitungan Batas Maksimum Pemberian Kredit (BMPK) sesuai ketentuan Bank Indonesia.

Working capital loans include commodity financing loan for the Government assigned to the National Logistics Agency (BULOG) amouting to Rp5,003,321 as of December 31, 2007 (2006: Rp4,550,488), respectively. Based on Presidential Instruction of the Republic of Indonesia No. 8 year 1990, these loans are guaranteed by the Ministry of Finance of the Republic of Indonesia and are excluded from the computation of the Legal Lending Limit (LLL) based on Bank Indonesia regulations. As of December 31, 2008, Badan Urusan Logistik (BULOG) was not categorized as the Bank’s related party due to no same management.

Per 31 Desember 2008, Badan Urusan Logistik (BULOG) tidak dikategorikan sebagai pihak yang memiliki hubungan istimewa karena tidak ada kepengurusan manajemen yang sama. j.


j.

Perubahan penyisihan kerugian kredit yang diberikan dan pembiayaan/piutang Syariah adalah sebagai berikut: 2008 Saldo awal tahun Penerimaan kembali kredit yang telah dihapusbukukan Penyisihan selama tahun berjalan (Catatan 32) Penghapusbukuan Lain-lain *)

Loans to related parties (continued)

Movements in the allowance for losses The movements in allowance for losses of loans and Sharia financing/receivables are as follows:

2007

2006

346.576

274.392

186.985

Balance at beginning of year

37.821

104.134

129.213

20.555 (55.896) 3.391

123.773 (164.821) (758)

Recoveries from written-off loans Provision during the year (Note 32) Write-off Others *)

346.576

274.392

58.775 (102.097) 299.590 640.665

*) Di dalam lain-lain termasuk selisih kurs karena penjabaran mata uang asing dan penyisihan kredit yang dibeli dari BPI (Catatan 10n).

*) Included in others are foreign exchange translation and allowance for losses for oans portfolio purchased from BPI (Note 10n).

Di dalam saldo penyisihan kerugian termasuk penyisihan kerugian pembiayaan/piutang Syariah sebesar Rp8.567 (2007: Rp5.105; 2006: Rp4.437).

Included in allowance for losses is for Sharia financing/receivables amounted to Rp8,567 (2007: Rp5,105; 2006: Rp4,437).

73




10. KREDIT YANG DIBERIKAN (lanjutan) j.


Perubahan penyisihan kerugian kredit yang diberikan (lanjutan)

j.

Manajemen berpendapat bahwa penyisihan kerugian yang dibentuk telah memadai. k.


Kredit yang direstrukturisasi

k. Restructured loans

Kredit yang telah direstrukturisasi sampai dengan 31 Desember 2008 adalah sebesar Rp1.626.435 (2007: Rp581.309; 2006: Rp531.903). Restrukturisasi tersebut dilakukan dengan cara perpanjangan masa pelunasan kredit dan perubahan persentase tingkat bunga. Penyisihan kerugian untuk kredit dalam proses restrukturisasi adalah sebesar Rp106.818 (2007: Rp5.553; 2006: Rp965). l.

Restructured loans as of December 31, 2008 amounted to Rp1,626,435 (2007: Rp581,309; 2006: Rp531,903). The terms of restructuring consist of extension of payment maturity dates modification of interest rate. The allowance for losses for loans under restructuring process amounted to Rp106,818 (2007: Rp5,553; 2006: Rp965).

Piutang pembiayaan konsumen

l.

Piutang pembiayaan konsumen anak perusahaan setelah dikurangi dengan pendapatan pembiayaan konsumen yang belum diakui pada tanggal 31 Desember 2008 adaIah Rp24.835 (2007: Rp9.226; 2006: RpNihil)

Consumer financing receivables The subsidiary consumer financing receivables balance after net of unearned consumer financing income as at December 31, 2008 amounted to Rp24,835 (2007: Rp9,226; 2006: RpNil).

m. Kredit yang dihapus buku

m. Loans written-off

Ikhtisar kredit yang dihapus buku pada tanggal 31 Desember 2008, 2007, dan 2006 adalah sebagai berikut: 2008 Saldo awal tahun Penghapusbukuan Penerimaan kembali kredit yang telah dihapusbukukan Potongan pelunasan kredit hapus buku Selisih kurs karena penjabaran mata uang asing

Movements in the allowance for losses (continued)

As at December 31, 2008, 2007, and 2006, a summary of loans written-off is as follows: 2007

1.493.026 102.097 (37.821)

2006

1.541.255 55.896 (104.134)

-

-

-

9

1.557.302

1.493.026

,

74

1.525.060 164.821 (129.213)

Balance at beginning of year Write-off

(18.928)

Recoveries from written-off loans Discounts on settlements of written-off loans

(485)


1.541.255




10. KREDIT YANG DIBERIKAN (lanjutan) n.


Kredit yang dibeli dari BPI

n.

Loans purchased from BPI

Bank telah melakukan perjanjian pembelian atas sejumlah portofolio kredit dari BPI. Portofolio kredit tersebut dijamin dengan giro dari BPI.

The Bank has entered into assets sale agreements with BPI. The asset acquired is a portfolio loans from BPI. These loans are secured with BPI’s current accounts.

Pembelian portofolio kredit ini dilakukan dalam beberapa tahap. Tahap I sebesar Rp78.688 dilakukan pada tanggal 9 Agustus 2005, tahap II sebesar Rp132.012 dilakukan pada tanggal 12 Agustus 2005 dan tahap III sebesar Rp93.432 dilakukan pada tanggal 31 Juli 2007.

The loan purchase was conducted in several tranches. Tranche I amounting to Rp78,688 was performed on August 9, 2005, tranche II amounting to Rp132,012 was performed on August 12, 2005, and tranche Ill amounting to Rp93,432 was performed on July 31, 2007.

Perjanjian ini telah sesuai dengan Akta Perjanjian Pengalihan Akta Piutang No. 8 tertanggal 9 Agustus 2005, No. 18 tertanggal 12 Agustus 2005, dan No. 55 tertanggal 31 Juli 2007 dari Notaris Tetty Herawati Soebroto, S.H..

These agreements were notarized in the Asset Sale Agreement No. 8 dated August 9, 2005, No. 18 dated August 12, 2005, and No. 55 dated July 31, 2007 of Notary Tetty Herawati Soebroto, S.H..

Pada tanggal 31 Desember 2007 dan 2006, saldo portofolio kredit ini adalah sebesar Rp304.132 dan Rp210.700. Pada laporan keuangan konsolidasian Bank untuk tahun yang berakhir pada tanggal 31 Desember 2007 dan 2006, seluruh portfolio kredit ini diklasifikasikan sebagai lancar dengan agunan tunai (Catatan 19a). Pada tanggal 31 Desember 2008, seluruh portofolio kredit ini dieliminasi untuk laporan keuangan konsolidasian.

As at December 31, 2007 and 2006, the balance of these loans were Rp304,132 and Rp210,700. In the consolidated financial statements of the Bank for the years ended December 31, 2007 and 2006, these loans were classified as current with cash collateral (Note 19a). As at December 31, 2008, the loan portfolio is eliminated for consolidated financial statements.

Pada tanggal 31 Desember 2008, saldo portofolio kredit yang dibeli dari BPI adalah sebesar Rp298.449. Seperti yang telah diungkapkan dalam Catatan 1c, sejak tanggal 31 Maret 2008, laporan keuangan BPI telah dikonsolidasikan kedalam laporan keuangan konsolidasian Bank sehubungan dengan akuisisi 2.000.000.000 lembar saham seri C senilai Rp100.000. Pada saat laporan keuangan dikonsolidasi, agunan tunai dari BPI dieliminasi, dan Bank membentuk 100% penyisihan kerugian berdasarkan saldo tersebut. Penyisihan kerugian yang dibentuk tersebut diperhitungkan sebagai penyesuaian nilai wajar atas kredit yang diberikan dan menjadi bagian dari goodwill yang diakui pada saat akuisisi.

As at December 31, 2008, the loan portfolio purchased from BPI is amounting to Rp298,449. As described in Note 1c, since March 31, 2008, BPI’s financial statements have been consolidated to the Bank’s consolidated financial statements in relation with the acquisition of 2,000,000,000 series C shares with total of Rp100,000. When the financial statements are consolidated, cash collateral from BPI is eliminated, and Bank provided for 100% allowance for losses based on the outstanding balance. The allowance for losses is considered as adjustment on fair value of the loans and became part of the recognized goodwill during the acquisition.

75




10. KREDIT YANG DIBERIKAN (lanjutan) o.


Informasi signifikan lainnya sehubungan dengan kredit yang diberikan

o.

i.

Dalam laporan Batas Maksimum Pemberian Kredit (BMPK) pada tanggal 31 Desember 2008, 2007, dan 2006 kepada Bank Indonesia tidak terdapat pelampauan BMPK baik kepada pihak terkait dan pihak tidak terkait.

i.

Based on the Legal Lending Limit (LLL) reports submitted to Bank Indonesia as at December 31, 2008, 2007, and 2006 there are no loan to related parties or third party debtors that exceeds BI’s legal lending limit requirements.

ii.

Kredit yang diberikan dijamin dengan agunan yang diikat dengan hak tanggungan atau surat kuasa membebankan hak tanggungan atau surat kuasa untuk menjual, atau jaminan lain yang umumnya diterima oleh Bank. Jumlah giro, tabungan, deposito berjangka, dan giro dari bank lain yang dijadikan sebagai jaminan kredit disajikan masing-masing pada Catatan 16, 17, 18, dan 19 atas laporan keuangan konsolidasian.

ii.

Certain loans are secured by registered mortgages, powers of attorney to sell, or by other guarantees acceptable to the Bank. The amounts of demand deposits, savings deposit, time deposits, and deposits from other banks pledged as collateral to the loan facilities granted by the Bank to such customers are disclosed in Notes 16, 17, 18, and 19 to the consolidated financial statements.

iii.

Kredit modal kerja merupakan rekening koran, cerukan, dan reguler.

iii.

Working capital loans consist of demand loans, overdraft, and regular loan facilities.

iv.

Kredit konsumsi terdiri dari kredit pemilikan rumah, kredit pemilikan mobil, dan kredit perorangan termasuk kredit yang dijamin dengan agunan tunai.

iv. Consumer loans consist of housing, car, and personal loans including cash collateral loans.

v.

Kredit program Pemerintah terdiri dari kredit usaha tani, kredit investasi, kredit modal kerja, kredit program kepada sektor koperasi, dan kredit pemilikan rumah.

v.

kredit kredit

11. TAGIHAN DAN KEWAJIBAN AKSEPTASI a.

Other significant information relating to loans

11. ACCEPTANCE RECEIVABLES AND PAYABLES

Berdasarkan pihak dan mata uang

a.

2008 Pihak ketiga Rupiah

Government program loans consist of farming loans, investment loans, working capital loans, cooperative loans, and housing loans.

By counterparties and currency

2007

2006 Third parties

-

-

13.602

Mata uang asing Dolar Amerika Serikat Yen Jepang Euro

134.870 -

69.372 8.458 -

47.053 4.906

Foreign currencies United States Dollar Japanese Yen Euro

Jumlah

134.870

77.830

51.959

Total

134.870 Penyisihan kerugian

77.830 (1.168)

(642

133.702

77.188

76

65.561 ) 64.905

(656




11. TAGIHAN (lanjutan) b.

DAN

KEWAJIBAN

AKSEPTASI

11. ACCEPTANCE RECEIVABLES AND PAYABLES (continued)


b. By remaining period to maturity

2008

2007

Pihak ketiga Rupiah 1 - 3 bulan

2006

-

-

13.602

-

-

13.602

2.207 21.800 67.263 43.600

1.038 21.035 22.882 32.875

6.133 32.947 12.879 -

134.870

77.830

51.959

134.870

77.830

65.561

Mata uang asing ≤ 1 bulan 1 - 3 bulan 3 - 6 bulan 6 - 12 bulan

Penyisihan kerugian

(1.168)

(642)

133.702

77.188

Jumlah seluruh saldo kewajiban akseptasi adalah sama seperti yang tercatat dalam saldo akun tagihan akseptasi sebelum dikurangi penyisihan kerugian pada tanggal 31 Desember 2008, 2007, dan 2006. c.



64.905

c. By collectibility All acceptance receivables as at December 31, 2008, 2007, and 2006 are classified as current.


d. Movement in allowance for losses

Perubahan penyisihan kerugian atas tagihan akseptasi adalah sebagai benikut: 2008 Saldo awal tahun Penyisihan (pemulihan) selama tahun berjalan (Catatan 32) Selisih kurs karena penjabaran mata uang asing

Foreign currencies ≤ 1 month 1 - 3 months 3 - 6 months 6 - 12 months

Acceptance payables represent the same amount as acceptance receivables before allowance for losses as at December 31, 2008, 2007, and 2006.

Kolektibilitas atas tagihan akseptasi berdasarkan kualitasnya adalah lancar pada tanggal 31 Desember 2008, 2007, dan 2006. d.

(656)

Third party Rupiah 1 - 3 months

The changes in allowance for losses on acceptance receivables are as follows: 2007

2006

642

656

377

393

(34)

309

Balance at beginning of year Provision (reversal) during the year (Note 32)

133

20

(30)


1.168

642

656

Manajemen berpendapat bahwa penyisihan kerugian telah memadai.

jumlah


77




12. PENYERTAAN

12. INVESTMENTS

Rincian penyertaan pada tanggal 31 Desember 2008 adalah sebagai berikut:

Nama Perusahaan

Metode biava Simpanan di koperasi: Koperasi Asuransi Indonesia Koperasi Jasa Audit Nasional Kepemilikan saham: PT Bank Madya Dhaha Ekonorni - Kediri (BPR)

PT Aplikanusa Lintasarta

Jenis Usaha/ Nature of Business

Persentase Kepemilikan Percentage of Ownership

Koperasi/ Cooperation Koperasi/ Cooperation

Investments as at December 31, 2008 consist of the following: Akumulasi Ekuitas atas Bagian Laba (Rugi)/ Accumulated Equity in Income (Loss)

Biaya Perolehan/ Cost

Nilai Tercatat/ Carrying Value

Company Name

-

528

-

528

-

8

-

8

Cost method Deposits in cooperatives: Koperasi Asuransi Indonesia Koperasi Jasa Audit Nasional

400

Shares of stock: PT Bank Madya Dhaha Ekonorni - Kediri (BPR)

15


Bank Jasa Komunikasi/ Communication Services

16,02%

400

-

0,02%

15

-

951 (539)

Penyisihan kerugian


412

Rincian penyertaan pada tanggal 31 Desember 2007 adalah sebagai berikut:

Nama Perusahaan Metode ekuitas PT Bank Persyarikatan Indonesia Metode biava Simpanan di koperasi: Koperasi Asuransi Indonesia Koperasi Jasa Audit Nasional Kepemilikan saham: PT Bank Madya Dhaha Ekonomi - Kediri (BPR)



Bank





24,73%

42.000


(6.311)

Company Name

35.689

-

528

-

528

-

8

-

8


16,02%

400

-

400

Shares of stock: PT Bank Madya Dhaha Ekonomi - Kediri (BPR)

0,02%

15

-

15


Bank Jasa Komunikasi/ Communication Services

Equity method PT Bank Persyarikatan Indonesia

951 Jumlah Penyisihan kerugian

36.640 (1.130) 35.510

78





12. PENYERTAAN (lanjutan)

12. INVESTMENTS (continued)

Rincian penyertaan pada tanggal 31 Desember 2006 adalah sebagai berikut

Nama Perusahaan


Metode ekuitas PT Bank Persyarikatan Indonesia

Bank

Metode biava Simpanan di koperasi: Koperasi Asuransi Indonesia Koperasi Jasa Audit Nasional


Kepemilikan saham: PT Bank Madya Dhaha Ekonorni - Kediri (BPR)





24.73%

42.000


(2.563)

Company Name

39.437

Equity method PT Bank Persyarikatan Indonesia

-

528

-

528

-

8

-

8


Bank

16,02%

400

-

400

Shares of stock: PT Bank Madya Dhaha Ekonorni - Kediri (BPR)

Jasa Komunikasi/ Communication Services

0,02%

15

-

15


951 Jumlah Penyisihan kerugian

40.388 (1.156)


39.232

Pada 31 Maret 2008, Bank meningkatkan kepemilikan pada BPI dengan cara membeli saham seri C sebanyak 2.000.000.000 saham dengan nilai nominal Rp50 (nilai penuh) per lembar saham dimana akhirnya jumlah kepemilikan saham Bank menjadi 65,44% (Catatan 1c).

On March 31, 2008, the Bank increased its ownership in BPI by purchasing 2.000.000,000 series C shares with a price of Rp50 (full amount) per share which made the total share ownership of the Bank to be 65.44% (Note 1c).

Berdasarkan hasil evaluasi dan penelaahan manajemen Bank, klasifikasi penyertaan berdasarkan kualitas pada tanggal-tanggal 31 Desember 2008, 2007, dan 2006 adalah sebagai berikut:

Based on managements evaluation and review, the classification of investments as at December 31, 2008, 2007, and 2006 is as follows:

2008

2007

2006

Lancar Diragukan Macet

415 536

36.104 536

39.852 8 528


951 (539)

36.640 (1.130)

40.388 (1.156)

412

35.510

39.232

Pada tanggal 31 Desember 2008 dan 2007, penyertaan dengan kolektibilitas macet adalah penyertaan simpanan di Koperasi Asuransi Indonesia dan Koperasi Jasa Audit Nasional. Pada tanggal 31 Desember 2006 penyertaan simpanan Koperasi Jasa Audit Nasional dikategorikan sebagai diragukan.

Current Doubtful Loss Total Allowance for losses

As at December 31, 2008 and 2007, investment in Koperasi Asuransi Indonesia and Koperasi Jasa Audit Nasional are classified as loss. As at December 31, 2006, investment in Koperasi Jasa Audit Nasional were classified as doubtful.

79




12. PENYERTAAN (lanjutan)

12. INVESTMENTS (continued)

Simpanan pada koperasi terdiri dari simpanan pokok, simpanan wajib, simpanan wajib khusus, dan simpanan sukarela.

Deposits in cooperatives consist of principal, compulsory, special compulsory, and voluntary deposits.

Perubahan penyisihan kerugian penyertaan adalah sebagai berikut:

The changes in allowance investments are as follows:

2008 Saldo awal (Pemulihan) penyisihan selama tahun berjalan (Catatan 32)

2007

for

losses

on

2006

1.130

1.156

(591)

932

(26)

539

Balance at beginning of year (Reversal) provision during the year (Note 32)

224

1.130

1.156

Saldo penyisihan kerugian penyertaan yang wajib dibentuk berdasarkan peraturan dari BI adalah sebesar Rp539 pada tanggal 31 Desember 2008 (2007: Rp930; 2006: Rp 928).

The minimum allowance for losses on investments that should be provided based on BI regulations amounted to Rp539 as at December 31, 2008 (2007: Rp930 ; 2006: Rp928), respectively.

Manajemen berpendapat bahwa jumlah penyisihan kerugian telah memadai.


13. ASET TETAP

13. FIXED ASSETS 2008 Akuisisi Anak Perusahaan/ Acquisition of Subsidiary

Saldo Awal/ Beginning Balance Biaya perolehan Pemilikan langsung: Tanah Bangunan Perabot dan peralatan kantor Kendaraan bermotor Aktiva sewa guna: Bangunan Inventaris kantor

Akumulasi penyusutan Pemilikan langsung: Bangunan Perabot dan peralatan kantor Kendaraan bermotor Aktiva sewa guna: Bangunan Inventaris kantor

Nilai buku bersih

Penambahan/ Additions

Pengurangan/ Deductions

Saldo Akhir/ Ending Balance

91.658 184.052

7.674 6.891

19.659 54.551

7.305 6.427

111.686 239.067

287.637 10.952

1.509

8.021 68

61.418 451

8.475 12.078

-

-

-

-

-

574.299

24.095

135.696

22.658

711.432

36.208

4.398

15.050

4.194

51.462

208.017 8.083

1.004

6.407 1.480

35.506 427

7.628 10.140

-

-

-

-

-

252.308

11.809

52.036

12.249

321.991

348.601 Motor vehicles Leased assets: Building Office inventory

Accumulated depreciation Direct ownership Building Furniture, fixtures and 242.302 Motor vehicles Leased assets: Building Office inventory

303.904 407.528

80

Cost Direct ownership: Land Building Furniture, fixtures and

Net book value




13. ASET TETAP (lanjutan)

13. FIXED ASSETS (continued) 2007 Saldo Awal/ Beginning Balance

Biaya perolehan Pemilikan langsung: Tanah Bangunan Perabot dan peralatan kantor Kendaraan bermotor Aktiva sewa guna: Bangunan Inventaris kantor

Akumulasi penyusutan Pemilikan langsung: Bangunan




91.514 107.741

144 76.311

-

91.658 184.052

265.264 12.138

24.997 27

2.624 1.213

287.637 10.952

-

-

-

-

476.657

101.479

3.837

574.299

24.258

11.950

-

36.208

Perabot dan peralatan kantor Kendaraan bermotor Aktiva sewa guna: Bangunan Inventaris kantor

175.640 7.877

34.517 1.419

2.140 1.213

208.017 8.083

-

-

-

-

207.775

47.886

3.353

Nilai buku bersih

268.882

Cost Direct ownership: Land Building Furniture, fixtures, and office equipment Motor vehicles Leased assets: Building Office inventory

Accumulated depreciation Direct ownership: Building Furniture, fixtures, and office equipment Motor vehicles Leased assets: Building Office inventory

252.308 321.991

Net book value

2006 Akuisisi Anak Perusahaan/ Subsidiary Acquisition

Saldo Awal/ Beginning Balance

Biaya perolehan Pemilikan langsung: Tanah Bangunan Perabot dan peralatan kantor Kendaraan bermotor Aktiva sewa guna: Bangunan Inventaris kantor

Akumulasi penyusutan Pemilikan langsung: Bangunan Perabot dan peralatan kantor Kendaraan bermotor Aktiva sewa guna: Bangunan Inventaris kantor

Nilai buku bersih




104.527 62.670

-

12.007 45.133

25.020 62

91.514 107.741

242.321 12.773

207 -

25.116 827

2.380 1.462

265.264 12.138

-

-

-

-

-

422.291

207

83.083

28.924

476.657

20.148

-

4.152

42

24.258

132.567 7.850

106 -

45.303 1.489

2.336 1.462

175.640 7.877

-

-

-

-

-

160.565

106

50.944

3.840

261.726

Accumulated depreciation Direct ownership: Building Furniture, fixtures, and office equipment Motor vehicles Leased assets: Building Office inventory

207.775 268.882

81

Cost Direct ownership: Land Building Furniture, fixtures, and office equipment Motor vehicles Leased assets: Building Office inventory

Net book value




13. ASET TETAP (lanjutan)

13. FIXED ASSETS (continued)

Keuntungan bersih dari penjualan aset tetap pada tahun yang berakhir 31 Desember 2008 adalah sebesar Rp15.523 (2007: Rp1.100; 2006 : Rp1.093) (Catatan 35).

Gain from sale of fixed assets for the year ended December 31, 2008 amounted to Rp15,523 (2007: Rp1,100; 2006: Rp1,003) ( Note 35).

Bank dan anak-anak perusahaan memiliki beberapa bidang tanah dengan hak kepemiIikan berupa Hak Guna Bangunan yang akan jatuh tempo antara tahun 2009 dan 2035. Manajemen berpendapat hak atas tanah tersebut dapat diperpanjang.

The Bank and subsidiary owned several parcels of land with Building Use Rights (Hak Guna Bangunan or “HGB”) which will be expired between year 2009 to 2035. Management believes that the land rights can be extended.

Aset tetap kecuali tanah diasuransikan terhadap risiko kebakaran dan risiko Iainnya berdasarkan suatu paket polis tertentu lebih dari 15 (lima belas) perusahaan asuransi. Nilai pertanggungan seluruhnya pada tanggal 31 Desember 2008 adalah sebesar Rp1.035.739 (2007: Rp935.474; 2006: Rp535.077). Manajemen berpendapat bahwa nilai pertanggungan tersebut cukup untuk menutup kemungkinan kerugian atas aset tetap yang dipertanggungkan.

Fixed assets except land are insured against losses by fire and other risks under blanket policies, with more than 15 (fifteen) insurance companies. The insurance coverage as at December 31, 2008 amounted to Rp1,035,739 (2007: Rp935,474; 2006: Rp535,077). Management believes that the insurance coverage is adequate to cover losses arising from such risks.

Manajemen Bank berpendapat tidak terdapat indikasi penurunan nilai atas aktiva yang dimiliki oleh Bank.

Management believes that there is no impairment in the value of its fixed assets.

14. AKTIVA LAIN-LAIN

14. OTHER ASSETS 2008

2007

Rupiah: Uang muka 196.761 Biaya dibayar di muka 78.417 Agunan yang diambil alih - bersih 75.946 Foreclosed assets - net 68.134 Bunga masih akan diterima 73.693 Properti terbelengkalai - bersih 20.748 Penyertaan modal dalam proses Lain-lain - bersih 52.478 Dolar Amerika Serikat: Bunga masih akan diterima Biaya dibayar di muka

2006

177.424 71.402

142.096 72.288

Rupiah: Advance payments Prepaid expenses

54.014 44.395 20.748 100.000 22.106

39.229 24.409 16.670

498.043

490.089

362.826

7.167 1.333

9.051 1.449

3.247 -

8.500

10.500

3.247

506.543

500.589

366.073

Interest receivables Abandoned properties - net Additional investment in process Others - net United States Dollar: Interest receivables Prepaid expenses

Uang muka terdiri dari uang muka yang dikeluarkan sehubungan dengan pembukaan cabang-cabang baru, relokasi cabang, pembelian aset tetap, renovasi gedung kantor, dan uang muka biaya lainnya.

Advance payments consist of payments which relate to the opening of new branch offices, branch relocation, purchase of fixed assets, office building renovation, and other advance payments.

Biaya dibayar di muka sebagian besar terdiri atas biaya-biaya sewa gedung, rumah dan kendaraan, perbaikan dan pemeliharaan, persediaan alat tulis kantor dan asuransi.

Prepaid expenses consist mainly of prepaid building, housing rent and car rent, renovation and maintenance, supplies and insurance.

82




14. AKTIVA LAIN-LAIN (lanjutan)

14. OTHER ASSETS (continued)

Agunan yang diambil alih merupakan aktiva jaminan yang diambil alih oleh Bank sehubungan dengan penyelesaian kredit yang terdiri atas tanah, bangunan, dan kendaraan. Pada tanggal 31 Desember 2008 agunan yang diambil alih dengan klasifikasi kurang lancar sebesar Rp84.536 (2007: Rp49.364) dengan penyisihan kerugian sebesar Rp10.859 (2007: Rp7.405). Agunan yang diambil alih pada tanggal 31 Desember 2006 diklasifikasikan lancar.

Foreclosed assets consist of land, buildings, and motor vehicles which were acquired in the settlement of loans by the Bank in form of land, building, and vehicle. As at December 31, 2008 foreclosed assets which been classified as substandard amounting to Rp84,536 (2007: Rp49,364) with allowance for losses amounting to Rp10,859 (2007: Rp7,405). As at December 31, 2006, all foreclosed assets are classified as current.

Pada tanggal 31 Desember 2007 Bank memiliki penyertaan modal dalam proses pada PT Bank Syariah Bukopin dahulu (PT Bank Persyarikatan Indonesia) sebesar Rp100.000. Penyertaan modal ini telah memperoleh persetujuan pemegang saham Bank pada Rapat Umum Pemegang Saham Luar Biasa yang diselenggarakan pada tanggal 6 Maret 2008. Penyertaan modal ini telah mendapat persetujuan dari BI melalui surat No. 10/43/GBI/DPIP/Rahasia tanggal 27 Maret 2008. BPI akan dikembangkan sebagai Bank Syariah Bukopin (Catatan 1c).

As at December 31, 2007, the Bank has investment in process in PT Bank Syariah Bukopipn (formerly PT Bank Persyarikatan Indonesia) amounting to Rp100,000. This investment has been approved by Bank’s shareholders in the Extraordinary General Meeting of Shareholders’ which conducted on March 6, 2008. This investment has been approved by BI through letter No. 10/43/GBI/DPIP/Rahasia dated March 27, 2008. BPI is developed to become Bank Bukopin Sharia (Note 1c).

Lain-lain meliputi antara lain tagihan dari aktivitas penggunaan mesin EDC dan ATM oleh nasabah dari jaringan ATM Bersama dan ATM BCA, setoran jaminan atas gedung kantor yang disewa, dan lainnya.

Others consist of receivable derived from activities utilization of EDC machine and ATM by customer in network ATM Bersama and ATM BCA, security deposits for leased office buildings, others.

15. KEWAJIBAN SEGERA

15. LIABILITIES IMMEDIATELY PAYABLES 2008

Rupiah: Kiriman uang yang belum direalisasi Lain-lain

Mata uang asing: Kiriman uang yang belum direalisasi Lain-lain

2007

2006 Rupiah:

104.222 72.866

132.272 52.914

1.518.976 31.614

177.088

185.186

1.550.590

Unsettled money transfer Others

Foreign currencies:

891 178

540 22.755

1.245 37.568

1.069

23.295

38.813

178.157

208.481

1.589.403

Lain-lain terdiri dari setoran pajak yang diterima oleh Bank sebagai Bank persepsi, titipan pembayaran kepada PT Perusahaan Listrik Negara dari nasabah, setoran atas pembukaan rekening, deposito berjangka yang telah jatuh tempo, dan setoran jaminan atas Letters of Credit dan bank garansi yang sudah jatuh tempo.

Unsettled money transfer Others

Others consist tax collection received by Bank as collecting Bank, entrusted payment to PT Perusahaan Listrik Negara from customers, customers’ funds of account opening, matured time deposits redeemed, and margin deposit of expired Letters of Credit and Bank Guarantee.

83




16. GIRO

16. DEMAND DEPOSITS 2008

Pihak ketiga Rupiah Mata uang asing

Pihak yang mempunyai hubungan istimewa Rupiah Mata uang asing

2007

2006

5.307.140 450.504

6.959.211 1.054.085

4.502.702 842.687

5.757.644

8.013.296

5.345.389

16.378 2.247

822.485 13.153

2.702.334 247.373

18.625

835.638

2.949.707

5.776.269

8.848.934

8.295.096

Third parties Rupiah Foreign currency

Related parties Rupiah Foreign currency

Pada tanggal 31 Desember 2008, giro yang didasarkan pada prinsip perbankan Syariah adalah sebesar Rp82.606 (2007: Rp90.805; 2006: Rp118.094).

As at December 31, 2008, demand deposits under Sharia banking principles amounted to Rp82.606 (2007: Rp90,805; 2006: Rp118,094), respectively.

Giro yang dijadikan sebagai jaminan atas fasilitas kredit yang diberikan oleh Bank kepada beberapa debitur pada tanggal 31 Desember 2008 adalah sebesar Rp930.455 (2007: Rp304.410; 2006: Rp110.029).

Demand deposits of certain customers as at December 31, 2008 amounting to Rp930,455 (2007: Rp304,410; 2006: Rp110,029), respectively, are pledged as collateral to the loan facilities granted by the Bank to such debtors.

Giro yang didasarkan pada prinsip perbankan Syariah yang dijadikan sebagai jaminan atas pembiayaan/piutang Syariah oleh Bank kepada beberapa debitur pada tanggal 31 Desember 2008 adalah sebesar Rp19.987 (2007: Rp146; 2006: Rp47).

Demand deposits under Sharia banking principles of certain customers as at December 31, 2007 amounting to Rp19,987 (2007: Rp146; 2006: Rp47), respectively, are pledged as collateral to Sharia financing/receivables granted by the Bank to such debtors.

Suku bunga rata-rata per tahun untuk giro dalam Rupiah pada tahun 2008 adalah sebesar 5,29%, (2007: 5,60%; 2006: 5,59%) sedangkan untuk giro dalam mata uang asing pada tahun 2008 adalah sebesar 3,84% (2007: 3,89%; 2006: 3,80%).

Average interest rates per annum for demand deposits in Rupiah in 2008 was 5.29% (2007: 5.60%; 2006: 5.59%), respectively, and in foreign currency in 2008 was 3.84% (2007: 3.89%; 2006: 3.80%), respectively.

17. TABUNGAN

17. SAVING DEPOSITS 2008

Pihak ketiga Rupiah: SiAga Sikosi Tabungan kerjasama SiAga Wadiah Tabungan Haji Tabungan Pendidikan Tabungan Haji Wadiah Tabungan Umum Tabungan Wadiah

2007

2006

3.535.376 246.337 193.827 88.967 11.462 32.332 1.255 4.233 2.924

2.508.320 233.266 145.386 62.859 8.274 5.784 823 -

1.743.056 217.174 32.874 6.138 531 -

4.116.713

2.964.712

1.999.773

84

Third parties Rupiah: SiAga Sikosi Joint Account Savings Deposits SiAga Wadiah Haji Savings Deposits Education Savings Deposits Wadiah Haji Savings Deposits Savings Deposits Wadiah Savings Deposits




17. TABUNGAN (lanjutan)

17. SAVING DEPOSITS (continued) 2008

Pihak yang mempunyai hubungan istimewa Rupiah: SiAga SiAga Wadiah Tabungan Wadiah

2007

2006

5.998 1.192 399

8.172 230 -

2.453 82 -

7.589

8.402

2.535

4.124.302

2.973.114

2.002.308

Related parties Rupiah: SiAga SiAga Wadiah Wadiah Saving Deposit

Pada tanggal 31 Desember 2008, tabungan yang didasarkan pada prinsip perbankan Syariah adalah sebesar Rp94.737 (2007: Rp63.912; 2006: Rp33.487).

As at December 31, 2008, savings deposits under Sharia banking principles amounted to Rp94,737 (2007: Rp63,912; 2006: Rp33,487), respectively.

Tabungan yang dijadikan sebagai jaminan atas fasilitas kredit yang diberikan oleh Bank kepada beberapa debitur pada tanggal 31 Desember 2008 adalah sebesar Rp638.534 (2007: Rp85.584; 2006: Rp28.024).

Saving deposits of certain customers as at December 31, 2008 amounting to Rp638,534 (2007: Rp85,584; 2006: Rp28,024), respectively, are pledged as collateral to the loan facilities granted by the Bank to such debtors.

Tabungan yang didasarkan pada prinsip perbankan Syariah yang dijadikan sebagai jaminan atas pembiayaan/piutang Syariah oleh Bank kepada beberapa nasabah pada tanggal 31 Desember 2008 adalah Rp9.816 (2007: Rp833; 2006: RpNihil).

Savings deposits under Sharia banking principles of certain customers as at December 31, 2008 amounting to Rp9,816 (2007: Rp833; 2006: RpNil), respectively, are pledged as collateral to Sharia financing/receivables granted by the Bank to such debtors.

Suku bunga rata-rata per tahun untuk tabungan pada tahun 2008 adalah 4,01% (2007: 3,21%; 2006: 2,84%).

Average interest rates per annum in 2008 were 4.01% (2007: 3.21%; 2006: 2.84%), respectively.

18. DEPOSITO BERJANGKA

18. TIME DEPOSITS 2008

Pihak ketiga Rupiah Mata uang asing

Pihak yang mempunyai hubungan istimewa Rupiah Mata uang asing

2007

2006

14.349.427 2.980.032

11.772.739 3.283.800

10.908.149 1.452.052

17.329.459

15.056.539

12.360.201

288.184 2.992

2.024.720 388.571

1.995.007 232.424

291.176

2.413.291

2.227.431

17.620.635

17.469.830

14.587.632

Pada tanggal 31 Desember 2008, deposito berjangka yang didasarkan pada prinsip perbankan Syariah adalah sebesar Rp519.917 (2007: Rp202.576; 2006: Rp186.553).

Third parties Rupiah Foreign currency

Related parties Rupiah Foreign currency

As at December 31, 2008, time deposits under Sharia banking principles amounted to Rp519,917 (2007: Rp202,576; 2006: Rp186,553), respectively.

85




18. DEPOSITO BERJANGKA (lanjutan)

18. TIME DEPOSITS (continued)

Rincian deposito berjangka berdasarkan suku bunga rata-rata per tahun dan nisbah bagi hasil tanggal penempatan sampai dengan saat jatuh tempo adalah sebagai berikut:

Details of time deposits based on average interest rates per annum and nisbah profit sharing contract period to maturity are as follows:

Suku bunga rata-rata/nisbah bagi hasil per tahun (%)/ Average interest rate/nisbah profit sharing per annum (%) 2008 Rupiah: 1 bulan 3 bulan 6 bulan 12 bulan

Mata uang asing: 1 bulan 3 bulan 6 bulan 12 bulan

2007

8,38 8,20 8,05 7,95

7,78 8,10 8,59 9,47

3,27 3,12 3,33 3,30

3,55 3,99 4,27 3,92

Nilai nominal/nominal value 2006

2008

10,35 10,87 10,96 10,50

3,52 3,69 3,76 2,97

2008

Mata uang asing: ≤ 1 bulan > 1 - 3 bulan > 3 - 6 bulan > 6 - 12 bulan

2006

9.607.863 2.081.676 1.051.372 1.896.700

7.568.888 1.846.217 1.260.093 3.122.261

6.505.793 1.646.492 875.974 3.874.897

14.637.611

13.797.459

12.903.156

2.821.162 17.824 4.877 139.161

3.481.406 13.831 4.442 172.692

1.413.556 36.153 74.465 160.302

2.983.024

3.672.371

1.684.476

17.620.635

17.469.830

14.587.632

Rincian deposito berjangka berdasarkan sisa umur sampai dengan saat jatuh tempo adalah sebagai berikut: Rupiah: ≤ 1 bulan > 1 - 3 bulan > 3 - 6 bulan > 6 - 12 bulan

2007

Rupiah: 1 month 3 months 6 months 12 months

Foreign currency: 1 month 3 months 6 months 12 months

Details of time deposits based on their remaining period to maturity are as follows: 2007

2006

10.298.378 2.436.390 682.995 1.219.848

9.053.236 2.742.469 958.704 1.043.050

7.751.574 2.193.809 1.408.850 1.548.923

14.637.611

13.797.459

12.903.156

2.833.044 14.930 2.802 132.248

3.486.088 15.535 56.875 113.873

1.416.939 34.650 77.573 155.314

2.983.024

3.672.371

1.684.476

17.620.635

17.469.830

14.587.632

Rupiah: ≤ 1 month > 1 - 3 months > 3 - 6 months > 6 - 12 months

Foreign currency: ≤ 1 month > 1 - 3 months > 3 - 6 months > 6 - 12 months

Deposito berjangka yang dijadikan sebagai jaminan atas fasilitas kredit yang diberikan oleh Bank kepada beberapa debitur pada tanggal 31 Desember 2008 adalah sebesar Rp1.270.298 (2007: Rp1.751.640; 2006: Rp1.549.267).

Time deposits of certain customers as at December 31, 2008 amounting to Rp1,270,298 (2007: Rp1,751,640; 2006: Rp1,549,267) are pledged as collateral to the loan facilities granted by the Bank to such debtors.

Deposito berjangka yang didasarkan pada prinsip perbankan Syariah yang dijadikan sebagai jaminan atas pembiayaan/piutang Syariah yang diberikan oleh Bank kepada beberapa debitur pada tanggal 31 Desember 2008 adalah sebesar Rp5.800 (2007: Rp1.120; 2006: Rp3.658).

Time deposits under Sharia banking principles of certain customers as at December 31, 2008 amounting to Rp5,800 (2007: Rp1,120; 2006: Rp3,658) are pledged as collateral to Sharia financing/receivables granted by the Bank to such debtors.

86




19. SIMPANAN DARI BANK LAIN a.

19. DEPOSITS FROM OTHER BANKS

Berdasarkan mata uang dan jenis

a.

2008 Pihak ketiga Rupiah Interbank call money Giro Deposito berjangka

2006 Third parties

:

Rupiah:

885.000 13.210 228.431

14.500 21.247 303.583

369.700 10.111 323.046

1.126.641

339.330

702.857

-

217.072

-

-

217.072

-

1.126.641

556.402

702.857


Pihak yang mempunyai hubungan istimewa Rupiah: Giro

b.

2007

-

304.200

211.433

1.126.641

860.602

914.290

Interbank call money Demand deposits Time deposits

United States Dollar: Interbank call money

Related parties Rupiah: Demand deposits

Pada tanggal 31 Desember 2007, terdapat simpanan dari pihak yang mempunyai hubungan istimewa, PT Bank Persyarikatan Indonesia (BPI) sebesar Rp304.200 (2006: Rp211.433). Simpanan ini dijadikan jaminan atas kredit yang dibeli dari BPI (Catatan 10n).

As at December 31, 2007, there was a deposit from a related party, PT Bank Persyarikatan Indonesia (BPI) of Rp304,200 (2006: Rp211,433). This deposit is pledged as collateral for the loan portfolio purchased from BPI (Note 10n).

Berdasarkan tingkat suku bunga rata-rata per tahun

b.

2008 Rupiah: Interbank call money Giro Deposito berjangka

2007 8,36% 2,70% 8,40%


5,20% 2,80% 7,76%

3,04%

9,12% 3,33% 11,05%

Rupiah: ≤ 1 bulan > 1 - 3 bulan > 3 - 12 bulan > 12 bulan Dolar Amerika Serikat: ≤ 1 bulan

Rupiah: Interbank call money Demand deposits Time deposits United States Dollar: 5,02%

5,12%

Deposits from other banks under Sharia banking principles as at December 31, 2008 amounted to Rp42,485 (2007: Rp71,665; 2006: Rp54,160).

Berdasarkan sisa umur sampai dengan saat jatuh tempo 2008

By average annual interest rates 2006

Simpanan dari bank lain yang didasarkan pada prinsip perbankan Syariah pada tanggal 31 Desember 2008 adalah sebesar Rp42.485 (2007: Rp71.665; 2006: Rp54.160). c.

By currency and type

c. 2007

Based on their remaining period to maturity 2006

1.097.141 18.750 6.350 4.400

307.244 26.766 309.520 -

675.503 10.444 228.343 -

1.126.641

643.530

914.290

-

217.072

-

1.126.641

860.602

914.290

87

Rupiah: ≤ 1 month > 1 - 3 months > 3 - 12 months >12 months United State Dollar: ≤ 1 month




20. PAJAK PENGHASILAN a.

20. TAXES PAYABLE

Hutang pajak

a. 2008

Pajak penghasilan - Pasal 29 Pajak penghasilan lainnya: Pajak penghasilan karyawan Pasal 21 Pasal 4 (2) Pasal 25 Lainnya

b.

2007

Taxes payable 2006

47.342

24.051

44.858

20.795 22.966 11.705 718

2.172 18.926 13.535 -

11.811 19.203 10.301 -

103.526

58.684

86.173

Beban (manfaat) pajak penghasilan

b.

2008

2007

Corporate income tax - Article 29 Other income taxes payable: Employee income tax - Article 21 Article 4 (2) Article 25 Other

Income (benefit) tax expense 2006

Beban pajak kini - tahun berjalan Beban pajak kini - tahun lalu

204.896 2.180

177.068 -

161.328 -

Current tax expense - current year Current tax expense - prior year

Jumlah beban pajak kini - Bank

207.076

177.068

161.328

Total current tax expense - Bank

Beban pajak kini - Anak-anak perusahaan

27

-

-

Current tax expense - Subsidiaries

Jumlah beban pajak kini

207.103

177.068

161.328

Total current tax expense

Manfaat pajak tangguhan Penyesuaian tarif pajak tangguhan

(25.947) 3.299

(8.718) -

(16.931) -

Deferred tax benefits Adjustment on deferred tax rate

Manfaat pajak tangguhan - Bank

(22.648)

(8.718)

(16.931)

Deferred tax benefits - Bank

Manfaat pajak tangguhan Anak-anak perusahaan

(2.460)

Jumlah manfaat pajak tangguhan Jumlah beban pajak penghasilan badan - bersih

-

(25.108)

(8.718

181.995

168.350

Bank telah membuat koreksi dan menyampaikan pembetulan surat pemberitahuan pajak penghasilan badan untuk tahun 2005 seperti yang dimungkinkan berdasarkan Undang-undang Pajak Penghasilan baru No. 28 tahun 2007 mengenai perubahan ketiga atas Undang-undang No. 6 tahun 1983 tentang ketentuan umum dan tata cara perpajakan. Berdasarkan pasal 37A Undang-undang Pajak Penghasilan No. 28 tahun 2007, wajib pajak dapat menerima pengurangan atau penghapusan sanksi administrasi atas keterlambatan pelunasan kekurangan pembayaran pajak, jika wajib pajak menyampaikan pembetulan surat pemberitahuan pajak penghasilan badan yang menyebabkan tambahan pajak yang harus dibayar untuk tahun fiskal sebelum 2007 dan dilakukan paling lama dalam 1 tahun sejak tanggal efektif Undang-undang ini.

-

Deferred tax benefits - Subsidiaries

)

(16.931

144.397

Total corporate income tax expense - net

The Bank has made corrections and resubmitted its corporate income tax return for the year 2005 as allowed under the new Income Tax Law No. 28 year 2007 regarding the third amendment of Income Tax Law No. 6 year 1983 in relation to general taxation procedures. Under article of 37A of the Income Tax Law No. 28 year 2007, a tax payer is entitled to receive a reduction of or cancellation of administrative penalties due to late payments of additional tax, if a tax payer resubmits corporate income tax returns resulting in additional tax amounts being due for fiscal years prior to 2007 within 1 year from the effective date of this Law.

88

)




89




20. PAJAK PENGHASILAN (lanjutan) b.

Beban (manfaat) (lanjutan)

pajak

20. TAXES PAYABLE (lanjutan) penghasilan

b.

Income (benefit) tax expense (continued)

Berdasarkan penilaian kembali atas posisi pajak penghasilan badan untuk tahun 2005 yang dilakukan oleh Bank, tambahan beban pajak penghasilan badan sebesar Rp2.180 telah diakui dalam laporan keuangan tahun 2008.

Based on the Bank’s re-assessment of its corporate income tax position for the year 2005, an additional corporate income tax expense amount of Rp2,180 has been recognized in the 2008 financial statements.

Rekonsiliasi antara beban pajak penghasilan dengan hasil perkalian laba akuntansi sebelum pajak penghasilan dan tarif yang berlaku adalah sebagai berikut:

The reconciliation between income tax expense and the theoretical tax amount on the Bank’s profit before income tax is as follows:

2008 Laba sebelum beban pajak dengan laporan laba rugi konsolidasian Bagian rugi/(laba) bersih anak-anak perusahaan Laba sebelum pajak penghasilan - Bank Beban pajak sesuai tarif pajak yang berlaku Biaya-biaya yang tidak dapat dikurangi

550.837

2006

543.611

2.372

543.572

165.945

163.055

Perbedaan tetap: - Sumbangan dan hadiah - Representasi - Aktivitas karyawan - Bagian rugi perusahaan asosiasi - Pendapatan yang dikenakan pajak final - Lain-lain Jumlah perbedaan tetap

Income before tax - Bank

137.861

Income tax expense computed using applicable tax rate Non-deductible expenses

5.391

6.660

168.446

144.521

(2.461)

(96)

176.488

168.350

Income before corporate income tax per consolidated statements of income Net loss (income) of subsdiaries

459.715

13.004

2008

Laba sebelum pajak penghasilan - Bank

(188)

178.949

Rekonsiliasi antara laba sebelum beban pajak, seperti yang disajikan dalam laporan laba rugi konsolidasian, dengan taksiran penghasilan kena pajak untuk tahun yang berakhir pada tanggal-tanggal 31 Desember 2008, 2007, dan 2006 adalah sebagai berikut: Laba sebelum beban pajak dengan laporan laba rugi konsolidasian Bagian rugi (laba) bersih anak-anak perusahaan

459.903

(39)

553.209

Manfaat pajak tangguhan anak-anak perusahaan Beban pajak penghasilan

2007

(124) 144.397

Deferred tax benefit of subsidiaries Income tax expense

The reconciliation between income before corporate income tax as shown in the consolidated statements of income and estimated taxable income for the years ended December 31, 2008, 2007, and 2006 are as follows: 2007

550.837

2006

543.611

2.372

(39)

459.903 (188)

Income before corporate income tax per consolidated statements of income Net loss (income) of subsdiaries

553.209

543.572

459.715

Income before tax - Bank

11.370 10.375 1.698

7.093 6.523 914

8.250 7.094 4.626

Permanent differences: Donations and gifts Representations Employee activities -

3.113

3.397

2.660

(529) 17.318

(431) 478

43.345

17.974

90

(459) 28 22.199

Equity in loss of associate company Income subjected to final tax Others Total permanent differences




20. PAJAK PENGHASILAN (lanjutan) b.

Beban (manfaat) (lanjutan)

pajak

20. TAXES PAYABLE (continued) penghasilan 2008

Perbedaan temporer: Pembentukan (pemulihan) penyisihan kerugian atas: - Giro pada bank lain 6.963 - Penempatan pada Bank Indonesia dan bank lain 21.417 17.498 Indonesia and other banks - Surat-surat berharga 14 - Tagihan derivatif 116 - Tagihan akseptasi 393 - Penyertaan 970 Pembentukan (pemulihan) estimasi kerugian komitmen dan kontinjensi 164 Penyusutan aset tetap 10.795 Beban untuk kesejahteraan karyawan 5.663 Selisih kurs penyisihan kerugian aktiva produktif 2.433 Biaya manfaat pensiun dibayar dimuka 3.024 Lain-lain 34.538 Jumlah perbedaan temporer Penghasilan kena pajak Beban pajak penghasilan Pajak penghasilan - Pasal 25 Hutang pajak penghasilan - Pasal 29

b. 2007

Income (benefit) tax expense (continued) 2006

(240)

394

Temporary differences: Addition (reversal) of allowance for losses on: Current accounts with other banks Placements with Bank -

12.370 378 (2) (34) (26)

2.343 13 309 224

Marketable securities Derivative receivables Acceptance receivables Investments

-

Addition (reversal) of estimated loss commitments and contingecies Depreciation of fixed assets Estimated liability for employee service entitlements Translation difference on allowance for losses on earning assets

988 6.045

17.894 6.509

4.621

5.094

1.316

(1.349)

(3.024) 6.348

7.094

Prepaid pension costs Others

86.490

28.740

56.023

Total temporary differences

683.044

590.286

537.937

Taxable income

204.896 (145.848)

177.068 (153.017)

161.328 (116.470)

59.048

24.051

44.858

Current tax expense Prepayment of income taxes - Article 25 Income tax payable - Article 29

Perhitungan pajak penghasilan badan untuk tahun yang berakhir tanggal 31 Desember 2008 adalah suatu perhitungan sementara yang dibuat untuk maksud akuntansi dan kemungkinan dapat berubah pada saat Bank menyampaikan Surat Pemberitahuan Tahun (SPT) pajaknya.

The corporate income tax calculation for the year ended December 31, 2008 is a preliminary estimate made for accounting purposes and is subject to revision when the Bank lodges its Annual Corporate Income Tax Return.

Taksiran penghasilan kena pajak Bank untuk tahun yang berakhir pada tanggal 31 Desember 2007 dan 2006 telah sesuai dengan yang tercantum pada Surat Pemberitahuan Tahunan Pajak Penghasilan yang disampaikan Bank ke Kantor Pelayanan Pajak.

The amount of the estimated income tax payable for the year ended December 31, 2007 and 2006 conforms with the amount reported in the Annual Corporate Income Tax Return filed by the Bank with the Tax Office.

91




20. PAJAK PENGHASILAN (lanjutan) c.

20. TAXES PAYABLE (continued)

Aktiva (kewajiban) pajak tangguhan

c.

Pengaruh pajak tangguhan atas beda waktu yang signifikan antara pelaporan komersial dan perpajakan adalah sebagai berikut: 2008 Aktiva pajak tangguhan Penyisihan kerugian: Giro pada bank lain Penempatan pada Bank Indonesia dan bank lain Surat-surat berharga Tagihan derivatif Tagihan akseptasi Penyertaan Kewajiban estimasi untuk kesejahteraan karyawan Estimasi kerugian komitmen dan kontinjensi Lain-lain

Deferred tax assets (liabilities) The tax effects of significant temporary differences between commercial reporting and tax purposes are as follows:

2007

2006

2.202

271

326

16.454 1.450 37

11.205 1.549 5

7.196 1.401 6

290

Deferred tax assets Allowance for losses on: Current accounts with other banks Placements with Bank Indonesia and other banks Marketable securities Derivative receivables 197 Investments Estimated liability for employee service entitlements Estimated losses on commitments and contingencies Others

192

588

339

347

5.245

4.595

3.209

7.951 16.664

8.470 7.669

8.133 5.764

Aktiva pajak tangguhan - Bank Aktiva pajak tangguhan anak-anak perusahaan

50.881

34.295

26.579

Deferred tax assets - Bank

33.745

220

124

Deferred tax assets - subsidaries

Jumlah aktiva pajak tangguhan konsolidasian

84.626

34.515

26.703

Consolidated deferred tax assets

(9.580)

(14.735)

(16.548)

Deferred tax liabilities Depreciation of fixed assets

-

(907)

-

Prepaid pension costs

(9.580)

(15.642)

(16.548)

Total deferred tax liabilites - Bank

75.046

18.873

10.155

Kewajiban pajak tangguhan Penyusutan aset tetap Biaya manfaat pensiun dibayar dimuka Jumlah kewajiban pajak tangguhan - Bank Aktiva (kewajiban) pajak tangguhan - bersih

Deferred tax assets (liabilities) - net

Manajemen berpendapat bahwa aktiva pajak tangguhan yang timbul dari perbedaan temporer diperkirakan dapat direalisasikan pada periode mendatang.

Management believes that deferred tax assets resulted from temporary differences can be realized in the next periods.

Pada September 2008, Undang-undang No. 7 Tahun 1983 mengenai “Pajak Penghasilan” diubah untuk keempat kalinya dengan Undangundang No. 36 Tahun 2008. Perubahan tersebut juga mencakup perubahan tarif pajak penghasilan badan dari sebelumnya menggunakan tarif pajak bertingkat menjadi tarif tunggal yaitu 28% untuk tahun fiskal 2009 dan 25% untuk tahun fiskal 2010 dan seterusnya. Perusahaan mencatat dampak perubahan tarif pajak tersebut sebagai bagian dari beban pajak tangguhan pada tahun berjalan.

In September 2008, Law No. 7 Year 1983 regarding “Income Tax” has been revised for the fourth time with Law No. 36 Year 2008. The revised Law stipulates changes in corporate tax rate from a marginal tax rate to a single rate of 28% for fiscal year 2009 and 25% for fiscal year 2010 onwards. The Company recorded the impact of the changes in tax rates as part of deferred tax expense in the current year operations.

92




20. PAJAK PENGHASILAN (lanjutan) d.

20. TAXES PAYABLE (continued)

Administrasi

d.

Berdasarkan UU Perpajakan yang berlaku di Indonesia, Bank menghitung, menetapkan, dan membayar sendiri besarnya jumlah pajak yang terhutang. Direktur Jenderal Pajak (“DJP”) dapat menetapkan atau mengubah kewajiban pajak dalam batas waktu sepuluh tahun sejak saat terhutangnya pajak, atau akhir tahun 2013, mana yang lebih awal. Ketentuan baru yang diberlakukan terhadap tahun pajak 2008 dan tahun-tahun selanjutnya menentukan bahwa DJP dapat menetapkan dan mengubah kewajiban pajak tersebut dalam batas waktu lima tahun sejak saat terhutangnya pajak. e.

Administratives Under the taxation laws of Indonesia, the Bank submits tax return on the basis of self assessment. The Director General of Tax (“DGT”) may assess or amend taxes within ten years of the time the tax becomes due, or until the end of 2013, whichever is earlier. There are new rules applicable to fiscal year 2008 and subsequent years stipulating that the DGT may assess or amend taxes within five years of the time the tax becomes due.

Pemeriksaan pajak

e.

Tax assessments

Bank telah menerima hasil pemeriksaan pajak dari Kantor Pelayanan Pajak sehubungan dengan Pajak Penghasilan Badan dan Pajak Pertambahan Nilai (PPN) tahun pajak 2003 dan 2004 serta PPN tahun pajak 2006. Dari hasil pemeriksaan pajak telah diterbitkan beberapa Surat Ketetapan Pajak Kurang Bayar (SKPKB) dan Surat Tagihan Pajak (STP). Atas SKPKB dan STP tersebut telah diselesaikan sebesar Rp15.488 pada tahun 2008 dan dicatat sebagai beban pada tahun berjalan, sedangkan untuk jumlah sebesar Rp105.874 Bank mengajukan keberatan terkait PPN pada transaksi murabahah unit usaha syariah dan pengenaan jenis pajak penghasilan yang tidak sesuai dengan objek pajaknya.

Bank has received tax assessment result from the Tax Authorities regarding the corporate income taxes and Value Added Tax (VAT) for fiscal years 2003 and 2004 and VAT for fiscal year 2006. The Tax Authorities issued Surat Ketetapan Pajak Kurang Bayar (SKPKB) dan Surat Tagihan Pajak (STP) as the results of tax audit. Bank paid the tax obligation after tax audit amounted Rp15,488 in 2008 and has been recorded as current period expense, while for the tax obligation amounted to Rp105,874 Bank proposed tax objection related to VAT on sharia murabahah transaction and improper income tax imposed on tax object.

Selama tahun 2008, Bank telah melakukan pembayaran kepada Kantor Pajak sebesar Rp10.000 sebagai cicilan pembayaran dari SKPKB yang dicatat dalam Aktiva Lain-lain (Catatan 14).

During 2008, Bank has conducted payment to Tax Office amounting to Rp10,000 as installment of SKPKB which recorded in Other Assets (Note 14).

21. SURAT BERHARGA YANG DIJUAL DENGAN JANJI DIBELI KEMBALI

21. MARKETABLE SECURITIES SOLD AGREEMENT TO REPURCHASE

Tidak ada surat berharga yang dijual dengan janji dibeli kembali pada tanggal 31 Desember 2008 dan 2007.

WITH

There is no marketable securities sold with agreement to repurchase as at December 31, 2008 and 2007.

93




21. SURAT BERHARGA YANG DIJUAL DENGAN JANJI DIBELI KEMBALI (lanjutan)

21. MARKETABLE SECURITIES SOLD WITH AGREEMENT TO REPURCHASE (continued)

Surat berharga yang dijual dengan janji dibeli kembali pada tanggal 31 Desember 2006 terdiri dari:

Marketable securities sold with agreement to repurchase as at December 31, 2006 is as follow:

Jangka Waktu/ Terms Rupiah Sertifikat Bank Indonesia

4 hari/days

Tanggal Jatuh Tempo/ Repurchase Date

Bunga Dibayar Dimuka yang Belum Diamortisasi/ Unamortized Prepaid Interest

Harga Jual Kembali/ Repurchase Price

2 Jan./Jan. 2007

495.000

22. SURAT-SURAT BERHARGA YANG DITERBITKAN

Obligasi Seri A Bank Bukopin II tahun 2003 dalam perbendaharaan

a.

350

494.650

Rupiah Bank Indonesia Certificate

22. MARKETABLE SECURITIES ISSUED

2008 Obligasi Seri A Bank Bukopin II Tahun 2003 Obligasi Subordinasi Seri B Bank Bukopin Tahun 2003 Obligasi Syariah Mudharabah Bank Bukupin Tahun 2003

Nilai Bersih/ Net Value

2007

2006

-

319.000

319.000

-

236.000

236.000

-

45.000

45.000

-

600.000

600.000

-

(25.000)

(15.000)

-

575.000

585.000

Obligasi Seri A Bank Bukopin II Tahun 2003

a.

Series A Bank Bukopin II 2003 Bonds Subordinated Series B Bank Bukopin 2003 Bonds Sharia Mudharabah Bank Bukopin 2003 Bonds

Bought-back Series A Bank Bukopin II 2003 Bonds

Seri A Bank Bukopin II 2003 Bonds

Obligasi ini berjangka waktu 5 (lima) tahun dan telah jatuh tempo serta dilunasi pada tanggal 10 Juli 2008 dengan bunga tetap sebesar 13,375% per tahun. Bunga obligasi dibayarkan setiap triwulan (3 bulan) terhitung sejak tanggal 10 Oktober 2003 dan terakhir pada tanggal 10 Juli 2008.

These bonds have term of 5 (five) years and has matured and redeemed on July 10, 2008 and bear fixed interest rate at 13.375% per annum. The interest is payable quarterly starting on October 10, 2003 and the last payment is due on July 10, 2008.

Pada tahun 2005, Bank melakukan pembelian kembali obligasi ini sebesar Rp15.000 dalam 3 (tiga) tahap pada harga masing-masing sebesar 83%, 86%, dan 88,05%.

In 2005, the Bank bought back Rp15,000 of these bonds in 3 (three) stages at a price of 83%, 86%, and 88.05%, respectively.

Pada tahun 2007, Bank melakukan pembelian kembali obligasi ini sebesar Rp10.000 dengan harga sebesar 100,37%.

In 2007, the Bank bought back Rp10,000 of these bonds at a price of 100.37%.

Pada tanggal 10 Juli 2008 obligasi ini telah jatuh tempo dengan nilai pokok emisi sebesar Rp319.000.

At July 10, 2008, these bonds is matured with principal amount of Rp319,000.

94




22. SURAT-SURAT BERHARGA YANG DITERBITKAN (lanjutan) b.

c.

22. MARKETABLE (continued)

Obligasi Subordinasi Seri B Bank Bukopin Tahun 2003

b.

SECURITIES

ISSUED

Subordinated Series B Bank Bukopin 2003 Bonds

Obligasi ini merupakan obligasi subordinasi berjangka waktu 10 (sepuluh) tahun terhitung sejak tanggal emisi dengan opsi beli (pelunasan awal) pada tahun ke 5 (lima) sejak tanggal emisi dengan bunga tetap sebesar 14% per tahun untuk tahun ke 1 (satu) hingga tahun ke 5 (lima) dan selanjutnya sebesar 24% per tahun untuk tahun ke 6 (enam) hingga tahun ke 10 (sepuluh). Pada tahun ke 5 (lima) sejak tanggal emisi, Bank dapat melunasi seluruh obligasi subordinasi dengan harga 100%. Bunga obligasi dibayarkan setiap triwulan (3 bulan) terhitung sejak tanggal emisi dimana bunga pertama kali dibayarkan pada tanggal 10 Oktober 2003 dan terakhir pada tanggal 9 Juli 2008.

These bonds have term of 10 (ten) years, with a call option after 5 (five) years from the issuance date. Interest rates per annum are 14% for the first year to fifth year and 24% per annum for the sixth year to the tenth year. On the fifth year after issuance date, the Bank may settle the subordinated bonds with the price of 100%. The interest is payable quarterly starting on October 10, 2003 until July 9, 2008.

Pada tanggal 9 Juli 2008 Bank melaksanakan hak opsi beli dengan nilai sebesar Rp236.000.

On July 9, 2008, Bank exercised its call option at amount of Rp236,000.

Obligasi Syariah Bukopin Tahun 2003

Mudharabah

Bank

c.

Sharia Mudharabah Bank Bukopin 2003 Bonds

Obligasi ini merupakan obligasi Syariah mudharabah berjangka waktu 5 (lima) tahun dan akan jatuh tempo serta dilunasi pada tanggal 10 Juli 2008. Bagi hasil dibayarkan setiap triwulan (3 bulan) mulai 10 Oktober 2003 sampai 10 Juli 2008. Besarnya persentase nisbah bagi hasil untuk pemegang obligasi Syariah terhadap pendapatan yang dibagihasilkan adalah sebagai berikut:

These bonds have terms of 5 (five) years and will mature on July 10, 2008. The deferred margin is payable quarterly starting on October 10, 2003 until July 10, 2008. The percentages of nisbah with the Sharia bondholders are as follows:

•

Tahun ke 1: sebesar 38,58% dari pendapatan marjin unit usaha Syariah dengan portofolio pembiayaan murabahah sebesar Rp50.000 dan 52,88% dari imbalan kegiatan payment point.

•

Year 1: 38.58% of income margin of murabahah portfolio amounting to Rp50,000 and 52.88% of margin at payment point.

•

Tahun ke 2: sebesar 52,50% dari pendapatan marjin unit usaha Syariah dengan portofolio pembiayaan murabahah sebesar Rp75.000.

•

Year 2: 52.50% of income margin of murabahah portfolio amounting to Rp75,000.

•


•


95




22. SURAT-SURAT BERHARGA DITERBITKAN (lanjutan) c.

Obligasi Syariah Mudharabah Bukopin Tahun 2003 (lanjutan)

YANG

22. MARKETABLE (continued)

Bank

c.

SECURITIES

ISSUED

Sharia Mudharabah Bank Bukopin 2003 Bonds (continued)

•


•


•


•


Obligasi-obligasi tersebut diatas tidak dijamin dengan agunan khusus, dan tidak dijamin oleh pihak ketiga lainnya tetapi dijamin secara keseluruhan oleh aktiva Bank. Obligasi ini tidak termasuk dalam Program Jaminan Pemerintah Terhadap Kewajiban Pembayaran Bank Umum (Catatan 45).

These bonds are not secured by any specific asset or guaranteed by other third parties but are instead secured in general by all of the Bank’s assets. These bonds are not included in the Government Guarantee Program on the Payment of Obligations of Commercial Banks (Note 45).

Pada tanggal 31 Desember 2007, Obligasi seri A Bank Bukopin II tahun 2003 dan Obligasi Syariah Mudharabah Bank Bukopin tahun 2003 memperoleh peringkat “idA-“ (2006: “idBBB+”) sedangkan Obligasi Subordinasi Seri B Bank Bukopin tahun 2003 memperoleh peringkat “idBBB+” (2006: “idBBB”) dari PT Pemeringkat Efek Indonesia.

As at December 3, 2007 Series A Bank Bukopin II 2003 Bonds and Sharia Mudharabah Bank Bukopin 2003 Bonds are rated “idA-“ (2006: ”idBBB+”), whereas Subordinated Series B Bank Bukopin 2003 Bonds are rated “idBBB+” (2006: ”idBBB”) by PT Pemeringkat Efek Indonesia.

Pada tanggal 31 Desember 2007, harga pasar rata-rata tertimbang untuk Obligasi Seri A Bank Bukopin II Tahun 2003 adalah 100,07% (2006: 100,07%). Obligasi Subordinasi Seri B Bank Bukopin Tahun 2003 adalah 100,12% (2006: 100,12%) dan Obligasi Syariah Mudharabah Bank Bukopin tahun 2003 adalah 101% (2006: 101%).

As December 31, 2007, the weighted average prices for Series A Bank Bukopin II 2003 Bonds are 100.07% (2006: 100.07%), respectively, subordinated Series B Bank Bukopin 2003 Bonds are 100.12% (2006: 100.12%) and Sharia Mudharabah Bank Bukopin 2003 Bonds are 101% (2006: 101%) respectively.

Wali amanat dari obligasi-obligasi tersebut adalah PT Bank Mandiri (Persero) Tbk.

PT Bank Mandiri (Persero) Tbk is the trustee for the bonds issued by the Bank.

Berdasarkan surat Bank Indonesia No. 5/40/DPwB1/PwB16/Rahasia tanggal 27 Juni 2003, Bank diwajibkan untuk membentuk dana cadangan pelunasan obligasi sejak tahun pertama penerbitan. Bank telah membentuk dana cadangan pelunasan obligasi (Catatan 7b).

Based on BI Letter No. 5/40/DPwB1/PwB16/Rahasia dated June 27, 2003, the Bank must provide a sinking fund starting from the first year of issuance. In accordance with this requirement, the Bank has established a sinking fund (Note 7b).

Pada tanggal 10 Juli 2008 obligasi ini telah jatuh tempo dengan nilai pokok emisi sebesar Rp45.000.

At July 10, 2008, these bonds is matured with principal amount Rp45,000.

96




23. PINJAMAN YANG DITERIMA

23. BORROWINGS 2008

Rupiah: Pemerintah Republik Indonesia Bank Indonesia PT Permodalan Nasional Madani (Persero) International Economic Corporation Development Fund PT Bank Ekspor Indonesia (Persero)

Dolar Singapura: Nova Scotia, Singapura DBS Bank Ltd., Singapura Standard Chartered Bank, Singapura

a.

2007

2006

475.412 305.469

470.000 317.935

90.223

60.201

13.522

14.649

Rupiah: 357.250 Government of the Republic of Indonesia 389.728 Bank Indonesia PT Permodalan Nasional Madani 51.807 (Persero)

15.776

International Economic Corporation Development Fund PT Bank Ekspor Indonesia (Persero)

-

338

8.091

884.626

863.123

822.652

37.940 -

32.665

-

-

-

29.339

37.940

32.665

29.339

922.566

895.788

851.991

Bank Indonesia (BI)

b.

Singapore Dollar: Nova Scotia, Singapore DBS Bank Ltd., Singapore Standard Chartered Bank, Singapore

Bank Indonesia (BI)

Pinjaman ini terdiri dari:

This fund borrowing consists of:

i)

Fasilitas pinjaman eks Kredit Likuiditas BI untuk program kredit kepada Koperasi Primer untuk Anggota Perkebunan Inti Rakyat Transmigrasi Kawasan Timur Indonesia (KKPA PIR Trans KTI), pinjaman kepada Koperasi Primer untuk anggota Umum (KKPA Umum) yang pengelolaannya telah dialihkan kepada PT Permodalan Nasional Madani (Persero). Jangka waktu fasilitas ini berkisar antara 2 (dua) tahun sampai dengan 13 (tiga belas) tahun dan jatuh tempo terakhir pada tahun 2012. Suku bunga pinjaman tersebut berkisar antara 3% sampai dengan 9% per tahun. Pada tanggal 31 Desember 2008, jumlah saldo pinjaman ini adalah sebesar Rp300.886 (2007: Rp311.896; 2006: Rp382.333).

i)

Bank Indonesia Liquidity Credits relates to the credit program extended to Primary Cooperatives for Farmer Members of the Transmigration of East Indonesian Region (KKPA PIP Trans KTI) and to Primary Cooperatives for General Members (KKPA Umum), which management had been transferred to PT Permodalan Nasional Madani (Persero). The periods of this facility range from 2 (two) to 13 (thirteen) years and will mature in 2012, with annual interest rates ranging from 3% to 9%. As at December 31, 2008, the outstanding balance amounting to Rp300,886 (2007: Rp311,896; 2006: Rp382,333).

ii)

Fasiltas pinjaman eks Kredit Likuiditas BI untuk program Kredit Pemilikan Rumah Sederhana dan Pinjaman Pemilikan Rumah Sangat Sederhana. Jangka waktu fasilitas ini sesuai dengan pinjaman kepada nasabah maksimum selama 21 (dua puluh satu) tahun dan jatuh tempo terakhir pada tahun 2020. Suku bunga berkisar antara 3% sampai dengan 9% per tahun. Pada tanggal 31 Desember 2008, jumlah saldo pinjaman ini adalah sebesar Rp4.583 (2007: Rp6.039; 2006: Rp7.395).

ii)

Bank Indonesia Liquidity Credits also include simple and very simple housing loans. Such facilities have periods similar to the loans granted to customers with a maximum term of 21 (twenty one) years and will mature in 2020, with annual interest rates ranging from 3% to 9%. As at December 31, 2008 the outstanding balance amounting to Rp4,583 (2007: Rp6,039; 2006: Rp7,395).

97




23. PINJAMAN YANG DITERIMA (lanjutan) b.

23. BORROWINGS (continued)

Pemerintah Republik Indonesia

b.

The Government Indonesia

of

the

Republic

of

Pinjaman ini terdiri atas:

This borrowing consists of:

i)

Fasilitas pinjaman ini diberikan dalam rangka untuk menyalurkan dan mendistribusikan kembali penyediaan pinjaman mikro dan usaha kecil. Jumlah maksimum fasilitas ini adalah Rp350.000. Jangka waktu pinjaman untuk fasilitas ini adalah 5 (Iima) tahun 6 (enam) bulan dengan pembayaran angsuran dilakukan 5 (lima) kali angsuran setiap 6 (enam) bulanan dengan angsuran pertama dimulai pada tanggal 10 Desember 2007 sampai dengan 10 Desember 2009. Fasilitas pinjaman ini dikenakan suku bunga sebesar suku bunga rata-rata Sertifikat Bank Indonesia 3 (tiga) bulanan. Pada tanggal 31 Desember 2008, jumlah saldo pinjaman ini adalah sebesar Rp3.999 (2007: Rp4.665; 2006: Rp5.294).

i)

This borrowing facility is re-lent and distributed to micro and smalI business. The maximum amount of this facility amounting to Rp350,000. The periods of these facilities are 5 (five) years and 6 (six) months and payment shall be made in 5 (five) installments at every 6 (six) months starting December 10, 2007 until December 10, 2009. This borrowing bears interest at a rate equal to the average interest rate of three-months period Bank Indonesia Certificates. As at December 31, 2008, the outstanding balance amounting to Rp3,999 (2007: Rp4,665; 2006: Rp5,294).

ii)

Pada tanggal 8 Maret 2007 dan 31 Agustus 2007 berdasarkan perubahan perjanjian tersebut, Bank mendapatkan tambahan jumlah fasilitas pinjaman masing-masing sebesar Rp85.000 dan Rp35.000. Sehingga pada akhir tahun 2007, jumlah maksimum fasilitas ini menjadi Rp470.000. Pada tanggal 31 Desember 2008, jumlah saldo pinjaman ini adalah sebesar Rp470.000 (2007: Rp470.000; 2006: Rp350.000).

ii)

As at March 8, 2007 and August 13, 2007 based on amendment of the agreement, the Bank has obtained additional facilities amounting to Rp85,000 and Rp35,000, respectively. At the end of year 2007, the maximum of this facilities was amounted Rp470,000. As at December 31, 2008, the outstanding balance amounting to Rp470,000 (2007: Rp470,000; 2006: Rp350,000).

iii) Pada tanggal 28 November 2007, berdasarkan surat dari Direksi Bank kepada Menteri Keuangan Republik Indonesia No. 8227/D1R/XI/12007, Bank mengajukan permohonan untuk memperpanjang jangka waktu pinjaman untuk fasilitas ini menjadi 15 (lima belas) tahun 6 (enam) bulan dengan pembayaran angsuran dilakukan 5 (lima) kali angsuran setiap 6 (enam) bulanan dengan angsuran pertama dimulai pada tanggal 10 Desember 2017 sampai dengan 10 Desember 2019 yang pengelolaannya telah dialihkan kepada PT Bank Tabungan Negara (Persero). Pada tanggal 31 Desember 2008, jumlah saldo pinjaman ini adalah sebesar Rp1.414 (2007: Rp1.648; 2006: Rp1.956).

iii)

As at November 28, 2007, based on letter from a Bank’s Director to the Ministry of Finance of the Republic of Indonesia No. 8227/DIR/XI/2007, the Bank proposed an extention to the period of these facilities to become 15 (fifteen) years and 6 (six) months and payments shall be made in 5 (five) installments every 6 (six) months starting on December 10, 2017 until December 10, 2019, which management had been transferred to PT Bank Tabungan Negara (Persero). As at December 31, 2008, the outstanding balance amounting to Rp1,414 (2007: Rp1,648; 2006: Rp1,956).

98




23. PINJAMAN YANG DITERIMA (lanjutan) c.


PT Permodalan Nasional Madani (Persero) (PNM)

c.

Terdapat 2 (dua) fasilitas pinjaman yang diterima dari PNM yang kemudian disalurkan kepada anggota Koperasi Primer dengan 2 (dua) pola antara lain pola pinjaman dan pola bagi hasil yang diberikan dalam bentuk pinjaman investasi dan pinjaman modal kerja di berbagai sektor. Jangka waktu masing-masing fasilitas ini berkisar antara 1 tahun sampai 4 tahun dan 1 tahun sampai 7 tahun dengan jatuh tempo terakhir pada tanggal 30 September 2010 dan 31 Desember 2010. Nisbah bagi hasil PNM 50%, Bank Pelaksana 35,7% dan Koperasi 14,3%, sedangkan suku bunga pinjaman adalah antara 7% sampai dengan 9% per tahun. d.

International Economic Development Fund (IECDF)

PT Permodalan Nasional Madani (Persero) (PNM) There are 2 (two) borrowing facilities obtained from PNM which were distributed for members of Primary Cooperatives using profit sharing scheme and borrowing scheme for investment and working capital loans in various sectors. The periods of these facilities range from 1 to 4 years and 1 to 7 years, respectively, with the last maturity dates on September 30, 2010 and December 31, 2010, respectively. The profit sharing are PNM’s 50%, Executing Bank 35.7% and Cooperatives 14.3%, while the annual interest rate for loans ranged from 7% to 9% per annum.

Corporation

d.

Fasilitas pinjaman dalam Rupiah yang diperoleh sebesar ekuivalen USD5.000.000 (nilai penuh) dari Bank Ekspor Impor Republik Rakyat China melalui BI pada tanggal 27 Oktober 1995 yang akan disalurkan kepada Koperasi Primer/Koperasi Unit Desa untuk diteruskan kepada anggotanya untuk pembiayaan yang bersifat produktif. Jangka waktu fasilitas ini adalah 25 (dua puluh lima) tahun yaitu sampai dengan tahun 2020 termasuk masa tenggang 7 (tujuh) tahun. Selama tahun 2008, suku bunga pinjaman berdasarkan suku bunga rata-rata Sertifikat Bank Indonesia 3 (tiga) bulanan yang berkisar antara 7,89% sampai dengan 11,5% (2007: 7,83% - 9,50%; 2006: 9,50% - 12,92%).

International Economic Development Fund (IECDF)

Corporation

This borrowing represents credit facility in the amount of USD5,000,000 (full amount) granted by the Export Import Bank of the Peoples Republic of China through BI on October 27, 1995. This borrowing was re-lent to qualified Primary Cooperatives/Village Cooperatives and channeled to members for productive financing. This borrowing is payable over a period of 25 (twenty five) years up to 2020 and has a grace period of 7 (seven) years. During year 2008, this borrowing bears interest at a rate equal to the 3 (three) months average interest rate of Bank Indonesia Certificates ranging from 7.89% to 11.5% (2007: 7.83% 9.50% ;2006: 9.50% - 12.92%).

99




23. PINJAMAN YANG DITERIMA (lanjutan) e.


PT Bank Ekspor Indonesia (Persero) (BEI)

e.

Fasilitas pinjaman yang diterima dari BEI merupakan fasilitas pembiayaan kepada nasabah untuk menunjang kegiatan eksporimpor. Fasilitas ini adalah uncommitted dengan jangka waktu 1 tahun sejak tanggal 1 September 2000 dan dapat diperpanjang setiap tahunnya dengan perjanjian terakhir jatuh tempo pada tanggal 15 Desember 2008. Suku bunga pinjaman adalah sebesar tingkat bunga penempatan BEI yang ditetapkan pada setiap pemberitahuan persetujuan penggunaan fasilitas. f.

This facility was obtained from BEI, which represents facilities extended to customers for the export import activities. The amount of the facility is uncommitted and has a term of 1 year since September 1, 2000 and can be renewed every year with the latest agreement matured on December 15, 2008. Interest rate on this facility is equivalent to BEI lending rate determined on every loan agreement notification.

Bank of Nova Scotia, Singapura

f.

Fasilitas pinjaman yang diperoleh dari Nova Scotia ini merupakan fasilitas pembiayaan dalam mata uang Dolar Singapura dengan jangka waktu 180 hari sejak tanggal 19 Desember 2008 sampai dengan 17 Juni 2009. Pinjaman ini dikenakan bunga sebesar 3,25% per tahun. g.

DBS Bank Ltd., Singapura (DBS)

Standard Chartered (Stanchart)

Bank,

Bank of Nova Scotia, Singapore This borrowing was obtained from Nova Scotia Bank represents financing facility in Singapore Dollars with a term of 180 days starting from December 19, 2008 to June 17, 2009. This borrowing bears interest rate at 3.25% per annum.

g.

Fasiitas pinjaman yang diperoleh dari DBS ini merupakan fasilitas pembiayaan dalam mata uang Dolar Singapura dengan jangka waktu 180 hari sejak tanggal 18 Desember 2007 sampai dengan 24 Juni 2008. Pinjaman ini dikenakan bunga per tahun sebesar SIB0R+0,6%. Fasilitas pinjaman ini telah dilunasi oleh Bank pada tahun 2008. h.

PT Bank Ekspor Indonesia (Persero) (BEI)

DBS Bank Ltd., Singapore (DBS) This borrowing is obtained from DBS representing financing facility in Singapore Dollars with a term of 180 days starting from December 18, 2007 to June 24, 2008. This borrowing bears interest rate per annum at SIBOR+0.6%. This borrowing was settled by the Bank on 2008.

Singapura

h.

Fasilitas pinjaman yang diperoleh dari Stanchart ini merupakan fasilitas pembiayaan dalam mata uang Dolar Singapura dengan jangka waktu 181 hari sejak tanggal 5 Juli 2006 sampai dengan 2 Januari 2007. Pinjaman ini dikenakan bunga per tahun sebesar SIBOR+0,85%. Fasilitas pinjaman ini telah dilunasi oleh Bank pada tahun 2007.

Standard Chartered (Stanchart)

Bank,

Singapore

This borrowing is obtained from Stanchart representing a financing facility in Singapore Dollars with a term of 181 days from July 5, 2006 to January 2, 2007. This borrowing bears interest rateper annum at SIBOR+0.85%. This borrowing was settled by the Bank in 2007.

100




24. ESTIMASI KERUGIAN ATAS KOMITMEN DAN KONTINJENSI a.

Berdasarkan jenis dan mata uang

a.

2008 Rupiah: Fasilitas kredit yang belum digunakan Endorsemen surat-surat berharga Bank garansi yang diterbitkan

2007

2006

22.873

19.529

19.398

Unused loan facilities

18 1.438

4.256 1.339

4.239 1.270

Marketable securities endorsements Bank guarantees issued

24.329

25.124

24.907 Foreign currencies:

3.099

2.671

25

Unused loan facilities

822 229

347 91

1.205 972

Outstanding irrevocable L/C Bank guarantees issued

4.150

3.109

2.202

28.479

28.233

27.109


b.

2008 Rupiah: Saldo awal (Pemulihan) penyisihan selama tahun berjalan Penyelesaian masalah klaim bank garansi

Mata uang asing: Saldo awal Penyisihan (pemulihan) selama tahun berjalan Selisih kurs karena penjabaran penjabaran mata uang asing

Manajemen berpendapat estimasi kerugian atas kontinjensi telah memadai.

By type and currency

Rupiah:

Mata uang asing: Fasilitas kredit yang belum digunakan L/C yang masih berjalan dan tidak dapat dibatalkan Bank garansi yang diterbitkan

b.

24. ESTIMATED LOSSES ON COMMITMENTS AND CONTINGENCIES

2007

25.124 (795) -

Movements in allowance for losses 2006

24.907

6.502

752

19.686

(535)

(1.281)

24.329

25.124

24.907

3.109

2.202

3.003

160

770

Setlement of bank guarantee claim

Foreign currencies: Balance at beginning of year

(511)

Provision (reversal) during the year

(290)


881

137

4.150

3.109

2.202

28.479

28.233

27.109

bahwa jumlah komitmen dan

Rupiah: Balance at beginning of year (Reversal) provision during the year

Management believes that the estimated losses on commitments and contingencies are adequate.

101




25. KEWAJIBAN LAIN-LAIN

25. OTHER LIABILITIES 2008

Rupiah: Hutang kesejahteraan pegawai Pendapatan diterima dimuka Bunga masih harus dibayar Kewajiban estimasi untuk kesejahteraan karyawan (Catatan 37) Setoran jaminan Dana titipan nasabah Lain-lain

Mata uang asing: Pendapatan diterima di muka Bunga yang masih harus dibayar Setoran jaminan Lain-lain

2007

2006

111.193 89.595 86.047

109.332 103.639 75.520

70.172 87.591 77.434

24.980 16.323 2.369 69.518

15.319 13.421 2.698 129.353

10.697 12.402 29.897 76.691

400.025

449.282

364.884

36.168 5.187 3.905 2.130

18.870 4.978 3.229 2.899

11.330 3.474 2.761 1.422

47.390

29.976

18.987

447.415

479.258

383.871

Rupiah: Employee benefits payable Unearned income Interest payables Estimated liability for employee service entitlements (Note 37) Guarantee deposits Customer deposits Others

Foreign currency: Unearned income Interest payables Guarantee deposits Others

Hutang kesejahteraan pegawai meliputi pencadangan tunjangan, bonus, tantiem, dan dana pendidikan.

Employee benefits payable represent accrual for allowance, bonus, tantiem, and training expenses.

Pendapatan diterima dimuka meliputi pendapatan provisi kredit, L/C dan akseptasi yang diamortisasi sesuai dengan jangka waktu.

Unearned income represent income from fees and commission from loan, L/C, and acceptance which are amortized during the period.

Bunga masih harus dibayar merupakan beban bunga simpanan, surat-surat berharga yang diterbitkan, dan pinjaman yang diterima.

Interest payables represent interest expenses for deposits, marketable securities issued, and borrowings.

Lain-lain terdiri dari titipan debitur atas fasilitas kredit yang diterima dari Bank, kewajiban kepada pihak lain atas pembayaran (pembelian) sarana dan prasarana, dan lain-lain.

Others consist of debtor’s deposits for Bank’s loan facilities, obligations to other parties for payment (purchasing) of infrastructures and others.

102




26. EKUITAS a.

26. SHAREHOLDERS’ EQUITY

Modal saham

a.

Susunan pemegang saham Bank masingmasing pada tanggal 31 Desember 2008, 2007, dan 2006 adalah sebagai berikut:

Capital stock The Bank’s shareholders as at December 31, 2008, 2007, and 2006 are as follows:

2008

Jumlah Saham (nilai penuh)/ Number of Shares (full amount I. Saham Biasa Kelas A (Rp 10.000 (nilai penuh) per lembar saham) Yayasan Bina Sejahtera Warga (Yabinstra) Bulog Negara Republik Indonesia Induk Koperasi Unit Desa (Inkud) Koperasi Perkayuan Apkindo-MPI (Kopkapindo) Koperasi Pegawai Badan Urusan Logistik (Kopel-Bulog) Koperasi Pegawai Departemen Koperasi dan Pembinaan Pengusaha Kecil (KPDK) Koperasi Karyawan Bank Bukopin Jakarta (KKBJ) Gabungan Koperasi Batik Indonesia (GKBI) Induk Koperasi Karyawan (Inkopkar) Induk Koperasi Tentara Nasional Indonesia Angkatan Darat (Inkopad) Induk Koperasi Kepolisian Republik Indonesia (Inkoppol) Induk Koperasi Veteran Republik Indonesia (Inkoveri) Induk Koperasi Perikanan Indonesia (IKPI) Induk Koperasi Tentara Nasional Indonesia Angkatan Laut (Inkopal) Induk Koperasi Tentara Nasional Indonesia Angkatan Udara (Inkopau) Koperasi Pemuda Indonesia (Kopindo) Induk Koperasi Purnawirawan Angkatan Bersenjata Republik Indonesia (Inkoppabri) Induk Koperasi Wredatama (Inkoptama) Pusat Koperasi Pelayaran Rakyat (Puskopelra) Gabungan Koperasi Susu Indonesia (GKSI) Jumlah Saham Biasa Kelas A

Persentase Kepemilikan/ Percentage of ownership (%)

Jumlah modal ditempatkan dan disetor penuh/ Issued and fully paid-up capital stock

47.154

0,00

472

42.174

0,00

422

36.006 19.047

0,00 0,00

360 190

16.002 10.693

0,00 0,00

160 106

10.622

0,00

106

5.981

0,00

59

I. Common A Shares (Rp 10,000 (full amount) per share) Yayasan Bina Sejahtera Warga (Yabinstra) Bulog Negara Republik Indonesia Induk Koperasi Unit Desa (Inkud) Koperasi Perkayuan Apkindo-MPI (Kopkapindo) Koperasi Pegawai Badan Urusan Logistik (Kopel-Bulog) Koperasi Pegawai Departemen Koperasi dan Pembinaan Pengusaha Kecil (KPDK) Koperasi Karyawan Bank Bukopin Jakarta (KKBJ) Gabungan Koperasi Batik Indonesia (GKBI) Induk Koperasi Karyawan (Inkopkar) Induk Koperasi Tentara Nasional Indonesia Angkatan Darat (Inkopad) Induk Koperasi Kepolisian Republik Indonesia (Inkoppol) Induk Koperasi Veteran Republik Indonesia (Inkoveri) Induk Koperasi Perikanan Indonesia (IKPI) Induk Koperasi Tentara Nasional Indonesia Angkatan Laut (Inkopal) Induk Koperasi Tentara Nasional Indonesia Angkatan Udara (Inkopau) Koperasi Pemuda Indonesia (Kopindo) Induk Koperasi Purnawirawan Angkatan Bersenjata Republik Indonesia (Inkoppabri) Induk Koperasi Wredatama (Inkoptama) Pusat Koperasi Pelayaran Rakyat (Puskopelra) Gabungan Koperasi Susu Indonesia (GKSI)

21.337.978

0,36

213.379

Total Common A Shares

6.118.188 4.736.255 3.784.151

0,11 0,08 0,07

61.182 47.363 37.842

2.971.207

0,05

29.712

1.750.557

0,03

17.506

1.391.840

0,02

13.918

119.649

0,00

1.196

73.256 55.991

0,00 0,00

733 560

51.375

0,00

514

49.298

0,00

493

48.532

0,00

485

103




26. EKUITAS (lanjutan) a.

26. SHAREHOLDERS’ EQUITY (continued)

Modal saham (lanjutan)

a.

Capital stock (continued)

2008

Jumlah Saham (nilai penuh)/ Number of Shares (full amount


II. Saham Biasa Kelas B (Rp 100 (nilai penuh) per lembar saham) Koperasi Pegawai Bulog Seluruh Indonesia (Kopelindo) 2.327.819.153 Negara Republik Indonesia 1.034.232.376 Yayasan Bina Sejahtera Warga (Yabinstra) Bulog 687.385.206 Koperasi Perkayuan Apkindo-MPI (Kopkapindo) 399.559.599 Induk Koperasi Unit Desa (Inkud) 209.379.638 Koperasi Karyawan Bank Bukopin Jakarta (KKBJ) 118.921.111 Koperasi Pegawai Badan Urusan Logistik (Kopel) 7.653.110 Gabungan Koperasi Batik Indonesia (GKBI) 4.053.287 Induk Koperasi Karyawan (Inkopkar) 3.098.097 Induk Koperasi Tentara Nasional Indonesia Angkatan Darat (Inkopad) 2.842.597 Induk Koperasi Kepolisian Republik Indonesia (Inkoppol) 2.727.686 Induk Koperasi Veteran Republik Indonesia (Inkoveri) 2.685.285 Induk Koperasi Perikanan Indonesia (IKPI) 2.609.085 Induk Koperasi Tentara Nasional Indonesia Angkatan Laut (Inkopal) 2.333.527 Induk Koperasi Tentara Nasional Indonesia Angkatan Udara (Inkopau) 1.992.215 Koperasi Pegawai Departemen Koperasi dan Pembinaan Pengusaha Kecil (KPDK) 1.840.464 Koperasi Pemuda Indonesia (Kopindo) 1.053.883 Induk Koperasi Purnawirawan Angkatan Bersenjata Republik Indonesia (Inkoppabri) 885.424 Induk Koperasi Wredatama (Inkoptama) 591.657 Pusat Koperasi Pelayaran Rakyat (Puskopelra) 587.723 Gabungan Koperasi Susu Indonesia (GKSI) 330.927 Masyarakat (masing-masing kepemilikan kurang dari 5% 879.939.000


15,40

87.994

II. Common B Shares (Rp 100 (full amount) per share) Koperasi Pegawai Bulog Seluruh Indonesia (Kopelindo) Negara Republik Indonesia Yayasan Bina Sejahtera Warga (Yabinstra) Bulog Koperasi Perkayuan Apkindo-MPI (Kopkapindo) Induk Koperasi Unit Desa (Inkud) Koperasi Karyawan Bank Bukopin Jakarta (KKBJ) Koperasi Pegawai Badan Urusan Logistik (Kopel) Gabungan Koperasi Batik Indonesia (GKBI) Induk Koperasi Karyawan (Inkopkar) Induk Koperasi Tentara Nasional Indonesia Angatan Darat (Inkopad) Induk Koperasi Kepolisian Republik Indonesia (Inkoppol) Induk Koperasi Veteran Republik Indonesia (Inkoveri) Induk Koperasi Perikanan Indonesia (IKPI) Induk Koperasi Tentara Nasional Indonesia Angkatan Laut (Inkopal) Induk Koperasi Tentara Nasional Indonesia Angkatan Udara (Inkopau) Koperasi Pegawai Departemen Koperasi dan Pembinaan Pengusaha Kecil (KPDK) Koperasi Pemuda Indonesia (Kopindo) Induk Koperasi Purnawirawan Angkatan Bersenjata Republik Indonesia (Inkoppabri) Induk Koperasi Wredatama (Inkoptama) Pusat Koperasi Pelayaran Rakyat (Puskopelra) Gabungan Koperasi Susu Indonesia (GKSI) Public (Individual ownership of less than 5%)

Jumlah saham biasa kelas B

5.692.521.050

99,64

569.254

Total common B shares

Jumlah saham biasa

5.713.859.028

100.00

782.633

Total common shares

104

40,74 18,10

232.783 103.423

12,03

68.739

6,99 3,66

39.956 20.939

2,09

11.892

0,13

765

0,07 0,05

405 310

0,05

284

0,05

273

0,05

269

0,05

261

0,04

233

0,04

199

0,03 0,02

184 105

0,02 0,01

89 59

0,01

59

0,01

33







a.


2007

Jumlah Saham (nilai penuh)/ Number of Shares (full amount I. Saham Biasa Kelas A (Rp 10.000 (nilai penuh) per lembar saham) Yayasan Bina Sejahtera Warga (Yabinstra) Bulog Negara Republik Indonesia Induk Koperasi Unit Desa (Inkud) Koperasi Perkayuan Apkindo-MPI (Kopkapindo) Koperasi Pegawai Badan Urusan Logistik (Kopel-Bulog) Koperasi Pegawai Departemen Koperasi dan Pembinaan Pengusaha Kecil (KPDK) Koperasi Karyawan Bank Bukopin Jakarta (KKBJ) Gabungan Koperasi Batik Indonesia (GKBI) Induk Koperasi Karyawan (Inkopkar) Induk Koperasi Tentara Nasional Indonesia Angkatan Darat (Inkopad) Induk Koperasi Kepolisian Republik Indonesia (Inkoppol) Induk Koperasi Veteran Republik Indonesia (Inkoveri) Induk Koperasi Perikanan Indonesia (IKPI) Induk Koperasi Tentara Nasional Indonesia Angkatan Laut (Inkopal) Induk Koperasi Tentara Nasional Indonesia Angkatan Udara (Inkopau) Koperasi Pemuda Indonesia (Kopindo) Induk Koperasi Purnawirawan Angkatan Bersenjata Republik Indonesia (Inkoppabri) Induk Koperasi Wredatama (Inkoptama) Pusat Koperasi Pelayaran Rakyat (Puskopelra) Gabungan Koperasi Susu Indonesia (GKSI) Jumlah Saham Biasa Kelas A



51.375

0,00

514

49.298

0,00

493

48.532

0,00

485

47.154

0,00

472

42.174

0,00

422

36.006 19.047

0,00 0,00

360 190

16.002 10.693

0,00 0,00

160 106

10.622

0,00

106

5.981

0,00

59

I. Common A Shares (Rp 10,000 (full amount) per share) Yayasan Bina Sejahtera Warga (Yabinstra) Bulog Negara Republik Indonesia Induk Koperasi Unit Desa (Inkud) Koperasi Perkayuan Apkindo-MPI (Kopkapindo) Koperasi Pegawai Badan Urusan Logistik (Kopel-Bulog) Koperasi Pegawai Departemen Koperasi dan Pembinaan Pengusaha Kecil (KPDK) Koperasi Karyawan Bank Bukopin Jakarta (KKBJ) Gabungan Koperasi Batik Indonesia (GKBI) Induk Koperasi Karyawan (Inkopkar) Induk Koperasi Tentara Nasional Indonesia Angkatan Darat (Inkopad) Induk Koperasi Kepolisian Republik Indonesia (Inkoppol) Induk Koperasi Veteran Republik Indonesia (Inkoveri) Induk Koperasi Perikanan Indonesia (IKPI) Induk Koperasi Tentara Nasional Indonesia Angkatan Laut (Inkopal) Induk Koperasi Tentara Nasional Indonesia Angkatan Udara (Inkopau) Koperasi Pemuda Indonesia (Kopindo) Induk Koperasi Purnawirawan Angkatan Bersenjata Republik Indonesia (Inkoppabri) Induk Koperasi Wredatama (Inkoptama) Pusat Koperasi Pelayaran Rakyat (Puskopelra) Gabungan Koperasi Susu Indonesia (GKSI)

21.337.978

0,36

213.379


6.118.188 4.736.255 3.784.151

0,11 0,08 0,07

61.182 47.363 37.842

2.971.207

0,05

29.712

1.750.557

0,03

17.506

1.391.840

0,02

13.918

119.649

0,00

1.196

73.256 55.991

0,00 0,00

733 560

105







a.


2007



II. Saham Biasa Kelas B (Rp 100 (nilai penuh) per lembar saham) Koperasi Pegawai Bulog Seluruh Indonesia (Kopelindo) 2.260.454.653 Negara Republik Indonesia 1.034.232.376 Yayasan Bina Sejahtera Warga (Yabinstra) Bulog 679.035.706 Koperasi Perkayuan Apkindo-MPI (Kopkapindo) 399.559.599 Induk Koperasi Unit Desa (Inkud) 209.379.638 Koperasi Karyawan Bank Bukopin Jakarta (KKBJ) 6.620.260 Koperasi Pegawai Departemen Koperasi dan Pembinaan Pengusaha Kecil (KPDK) 1.840.464 Koperasi Pegawai Badan Urusan Logistik (Kopel-Bulog) 7.353.110 Gabungan Koperasi Batik Indonesia (GKBI) 4.053.287 Induk Koperasi Karyawan (Inkopkar) 3.098.097 Induk Koperasi Tentara Nasional Indonesia Angkatan Darat (Inkopad) 2.842.597 Induk Koperasi Kepolisian Republik Indonesia (Inkoppol) 2.727.686 Induk Koperasi Veteran Republik Indonesia (Inkoveri) 2.685.285 Induk Koperasi Perikanan Indonesia (IKPI) 2.609.085 Induk Koperasi Tentara Nasional Indonesia Angkatan Laut (Inkopal) 2.333.527 Induk Koperasi Tentara Nasional Indonesia Angkatan Udara (Inkopau) 1.992.215 Koperasi Pemuda Indonesia (Kopindo) 1.053.883 Induk Koperasi Purnawirawan Angkatan Bersenjata Republik Indonesia (Inkoppabri) 885.424 Induk Koperasi Wredatama (Inkoptama) 591.657 Pusat Koperasi Pelayaran Rakyat (Puskopelra) 587.723 Gabungan Koperasi Susu Indonesia (GKSI) 330.927 Masyarakat (masing-masing kepemilikan dibawah 5% 1.066.732.851


0,01

33

18,67

106.673

II. Common B Shares (Rp 100 (full amount) per share) Koperasi Pegawai Bulog Seluruh Indonesia (Kopelindo) Negara Republik Indonesia Yayasan Bina Sejahtera Warga (Yabinstra) Bulog Koperasi Perkayuan Apkindo-MPI (Kopkapindo) Induk Koperasi Unit Desa (Inkud) Koperasi Karyawan Bank Bukopin Jakarta (KKBJ) Koperasi Pegawai Departemen Koperasi dan Pembinaan Pengusaha Kecil (KPDK) Koperasi Pegawai Badan Urusan Logistik (Kopel-Bulog) Gabungan Koperasi Batik Indonesia (GKBI) Induk Koperasi Karyawan (Inkopkar) Induk Koperasi Tentara Nasional Indonesia Angkatan Darat (Inkopad) Induk Koperasi Kepolisian Republik Indonesia (Inkoppol) Induk Koperasi Veteran Republik Indonesia (Inkoveri) Induk Koperasi Perikanan Indonesia (IKPI) Induk Koperasi Tentara Nasional Indonesia Angkatan Laut (Inkopal) Induk Koperasi Tentara Nasional Indonesia Angkatan Udara (Inkopau) Koperasi Pemuda Indonesia (Kopindo) Induk Koperasi Purnawirawan Angkatan Bersenjata Republik Indonesia (Inkoppabri) Induk Koperasi Wredatama (Inkoptama) Pusat Koperasi Pelayaran Rakyat (Puskopelra) Gabungan Koperasi Susu Indonesia (GKSI) Public (Individual ownership of less than 5%)

39,57 18,11

226.046 103.423

11,89

67.904

6,99 3,67

39.956 20.938

0,12

662

0,03

184

0,13

735

0,07 0,05

405 310

0,05

284

0,05

273

0,05

269

0,05

261

0,04

233

0,03 0,02

199 105

0,02 0,01

89 59

0,01

59


5.691.000.050

99,64

569.100


Jumlah saham biasa

5.712.338.028

100.00

782.479

Total common shares

106







a.


2006

Jumlah Saham (nilai penuh)/ Number of Shares (full amount I. Saham Biasa Kelas A (Rp 10.000 (nilai penuh) per lembar saham) Yayasan Bina Sejahtera Warga (Yabinstra) Bulog Negara Republik Indonesia Induk Koperasi Unit Desa (Inkud) Koperasi Perkayuan Apkindo-MPI (Kopkapindo) Koperasi Pegawai Bulog (Kopel-Bulog) Koperasi Pegawai Departemen Koperasi dan Pembinaan Pengusaha Kecil (KPDK) Koperasi Karyawan Bank Bukopin Jakarta (KKBJ) Gabungan Koperasi Batik Indonesia (GKBI) Induk Koperasi Karyawan (Inkopkar) Induk Koperasi Tentara Nasional Indonesia Angkatan Darat (Inkopad) Induk Koperasi Kepolisian Republik Indonesia (Inkoppol) Induk Koperasi Veteran Republik Indonesia (Inkoveri) Induk Koperasi Perikanan Indonesia (IKPI) Induk Koperasi Tentara Nasional Indonesia Angkatan Laut (Inkopal) Induk Koperasi Tentara Nasional Indonesia Angkatan Udara (Inkopau) Koperasi Pemuda Indonesia (Kopindo) Induk Koperasi Purnawirawan Angkatan Bersenjata Republik Indonesia (Inkoppabri) Induk Koperasi Wredatama (Inkoptama) Pusat Koperasi Pelayaran Rakyat (Puskopelra) Gabungan Koperasi Susu Indonesia (GKSI) Jumlah Saham Biasa Kelas A



51.375

0,00

514

49.298

0,00

493

48.532

0,00

485

47.154

0,00

472

42.174

0,00

422

36.006 19.047

0,00 0,00

360 190

16.002 10.693

0,00 0,00

160 107

10.622

0,00

106

5.981

0,00

60

I. Common A Shares (Rp 10,000 (full amount) per share) Yayasan Bina Sejahtera Warga (Yabinstra) Bulog Negara Republik Indonesia Induk Koperasi Unit Desa (Inkud) Koperasi Perkayuan Apkindo-MPI (Kopkapindo) Koperasi Pegawai Bulog (Kopel-Bulog) Koperasi Pegawai Departemen Koperasi dan Pembinaan Pengusaha Kecil (KPDK) Koperasi Karyawan Bank Bukopin Jakarta (KKBJ) Gabungan Koperasi Batik Indonesia (GKBI) Induk Koperasi Karyawan (Inkopkar) Induk Koperasi Tentara Nasional Indonesia Angkatan Darat (Inkopad) Induk Koperasi Kepolisian Republik Indonesia (Inkoppol) Induk Koperasi Veteran Republik Indonesia (Inkoveri) Induk Koperasi Perikanan Indonesia (IKPI) Induk Koperasi Tentara Nasional Indonesia Angkatan Laut (Inkopal) Induk Koperasi Tentara Nasional Indonesia Angkatan Udara (Inkopau) Koperasi Pemuda Indonesia (Kopindo) Induk Koperasi Purnawirawan Angkatan Bersenjata Republik Indonesia (Inkoppabri) Induk Koperasi Wredatama (Inkoptama) Pusat Koperasi Pelayaran Rakyat (Puskopelra) Gabungan Koperasi Susu Indonesia (GKSI)

21.337.978

0,38

213.380


6.118.188 4.736.255 3.784.151

0,11 0,09 0,07

61.182 47.363 37.841

2.971.207 1.750.557

0,05 0,03

29.712 17.506

1.391.840

0,03

13.918

119.649

0,00

1.196

73.256 55.991

0,00 0,00

733 560

107







a.


2006



II. Saham Biasa Kelas B (Rp 100 (nilai penuh) per lembar saham) Koperasi Pegawai Bulog Seluruh Indonesia (Kopelindo) 2.248.756.653 Negara Republik Indonesia 1.034.232.376 Yayasan Bina Sejahtera Warga (Yabinstra) Bulog 677.154.706 Koperasi Perkayuan Apkindo-MPI (Kopkapindo) 399.559.599 Induk Koperasi Unit Desa (Inkud) 209.379.638 Koperasi Karyawan Bank Bukopin Jakarta (KKBJ) 160.336.111 Koperasi Pegawai Departemen Koperasi dan Pembinaan Pengusaha Kecil (KPDK) 77.011.464 Koperasi Pegawai Badan Urusan Logistik (Kopel) 7.653.110 Gabungan Koperasi Batik Indonesia (GKBI) 4.053.287 Induk Koperasi Karyawan (Inkopkar) 3.098.097 Induk Koperasi Tentara Nasional Indonesia Angkatan Darat (Inkopad) 2.842.597 Induk Koperasi Kepolisian Republik Indonesia (Inkoppol) 2.727.686 Induk Koperasi Veteran Republik Indonesia (Inkoveri) 2.685.285 Induk Koperasi Perikanan Indonesia (IKPI) 2.609.085 Induk Koperasi Tentara Nasional Indonesia Angkatan Laut (Inkopal) 2.333.527 Induk Koperasi Tentara Nasional Indonesia Angkatan Udara (Inkopau) 1.992.215 Koperasi Pemuda Indonesia (Kopindo) 1.053.883 Induk Koperasi Purnawirawan Angkatan Bersenjata Republik Indonesia (Inkoppabri) 885.424 Induk Koperasi Wredatama (Inkoptama) 591.657 Pusat Koperasi Pelayaran Rakyat (Puskopelra) 936.723 Gabungan Koperasi Susu Indonesia (GKSI) 330.927 Masyarakat (masing-masing kepemilikan dibawah 5% 763.541.500


0,01

33

13,57

76.354

II. Common B Shares (Rp 100 (full amount) per share) Koperasi Pegawai Bulog Seluruh Indonesia (Kopelindo) Negara Republik Indonesia Yayasan Bina Sejahtera Warga (Yabinstra) Bulog Koperasi Perkayuan Apkindo-MPI (Kopkapindo) Induk Koperasi Unit Desa (Inkud) Koperasi Karyawan Bank Bukopin Jakarta (KKBJ) Koperasi Pegawai Departemen Koperasi dan Pembinaan Pengusaha Kecil (KPDK) Koperasi Pegawai Badan Urusan Logistik (Kopel) Gabungan Koperasi Batik Indonesia (GKBI) Induk Koperasi Karyawan (Inkopkar) Induk Koperasi Tentara Nasional Indonesia Angkatan Darat (Inkopad) Induk Koperasi Kepolisian Republik Indonesia (Inkoppol) Induk Koperasi Veteran Republik Indonesia (Inkoveri) Induk Koperasi Perikanan Indonesia (IKPI) Induk Koperasi Tentara Nasional Indonesia Angkatan Laut (Inkopal) Induk Koperasi Tentara Nasional Indonesia Angkatan Udara (Inkopau) Koperasi Pemuda Indonesia (Kopindo) Induk Koperasi Purnawirawan Angkatan Bersenjata Republik Indonesia (Inkoppabri) Induk Koperasi Wredatama (Inkoptama) Pusat Koperasi Pelayaran Rakyat (Puskopelra) Gabungan Koperasi Susu Indonesia (GKSI) Public (Individual ownership of less than 5%)

39,98 18,38

224.876 103.423

12,04

67.715

7,10 3,72

39.956 20.938

2,85

16.034

1,37

7.701

0,13

765

0,07 0,05

405 310

0,05

284

0,05

273

0,05

269

0,05

261

0,04

233

0,04 0,02

199 105

0,02 0,01

89 59

0,02

94


5.603.765.550

99,62

560.376


Jumlah saham biasa

5.625.103.528

100,00

773.756

Total common shares

Semua saham yang dikeluarkan oleh Bank adalah saham atas nama dan setiap saham mempunyai 1 (satu) hak suara.

All common shares issued by the Bank entitle the holder to have 1 (one) vote per share.

108







a.


Berdasarkan Rapat Umum Pemegang Saham Luar Biasa yang diselenggarakan pada tanggal 20 April 2005 yang dituangkan dalam akta notaris No. 26 dari Notaris Lindasari Bachroem, S.H., para pemegang saham menyetujui peningkatan modal dasar dari Rp1.000.000 menjadi Rp2.500.000, melakukan penggabungan jumlah lembar saham atas nilai nominal modal ditempatkan dan disetor penuh untuk saham biasa kelas A dari Rp1.000 (nilai penuh) per saham menjadi Rp10.000 (nilai penuh) per saham dan saham biasa kelas B dari Rp10 (nilai penuh) per saham menjadi Rp100 (nilai penuh) per saham.

Based on the Extraordinary General Meeting of Shareholders held on April 20, 2005 which was covered by notarial deed No. 26 of Lindasari Bachroem, S.H., the shareholders agreed to increase the authorized capital from Rp1,000,000 to Rp2,500,000, to increase the share nominal value of issued and fully paid-up capital for common A shares from Rp1,000 (full amount) to Rp10,000 (full amount) per share, and common B shares from Rp10 (full amount) to Rp100 (full amount) per share.

Berdasarkan Rapat Umum Pemegang Saham Luar Biasa yang diselenggarakan tanggal 12 Oktober 2004 yang dituangkan dalam akta notaris No. 4 oleh Notaris Lindasari Bachroem, S.H., para pemegang saham menyetujui konversi atas tambahan modal disetor menjadi modal saham disetor penuh. Selanjutnya seluruh pemegang saham, kecuali Negara Republik Indonesia menyetujui untuk mengalihkan sebesar 5% dari hasil konversi tersebut kepada satu atau lebih koperasi karyawan di dalam Bank. Pada tanggal 3 Februari 2005, koperasi karyawan menerima sejumlah 1.537.158.511 saham biasa kelas B atau sebesar Rp15.372. Pengalihan tersebut telah dilakukan melalui akta No. 2 sampai 20 oleh Notaris Lindasari Bachroem S.H. tanggal 3 Februari 2005 dan dilaporkan kepada Menteri Kehakiman dan Hak Asasi Manusia Republik Indonesia.

Based on the Extraordinary General Meeting of Shareholders held on October 12, 2004 which was covered by notarial deed No. 4 of Lindasari Bachroem, S.H., the shareholders approved the conversion of its additional paid-in capital to paid-up capital. In addition, the shareholders, except for the Government of the Republic of Indonesia agreed to transfer 5% of shares from the conversion of additional paid-in capital to the Bank’s employees through one or more employee cooperatives in the Bank. On February 3, 2005, Koperasi Karyawan Bank Bukopin Jakarta received 1,537,158,511 common B shares amounting to Rp15,372. These transfers were covered by notarial deeds No. 2 to 20 dated February 3, 2005 of Lindasari Bachroem, S.H., and have been reported to the Ministry of Justice and Human Rights of the Republic of Indonesia.

Berdasarkan Rapat Umum Pemegang Saham Luar Biasa yang diselenggarakan tanggal 20 April 2005, anggaran dasar Bank telah mengalami perubahan yang dinyatakan dengan akta notaris No. 19 dari Notaris Lindasari Bachroem, S.H. tanggal 16 September 2008 tentang perubahan modal ditempatkan dan disetor penuh yang terdiri dan 21.337.978 saham kelas A dengan nilai nominal sebesar Rp213.379.780.000 (nilai penuh) dan 5.692.521.050 saham kelas B dengan nilai nominal Rp569.252.105.000 (nilai penuh). Perubahan ini telah diterima oleh Menteri Hukum dan Hak Asasi Manusia dengan Surat Keputusan No. AHU-AH.01.10-25437 tanggal 18 Desember 2008.

Based on the Extraordinary General Meeting of Shareholders held on April 20, 2005, the articles of association have been amended with recent changes by notarial deed No. 19 dated September 16, 2008 of Lindasari Bachroem, S.H.. The amendment was in respect of the change in issued and paid-up capital stock which was consisting of 21,337,978 common A shares with par value amounting to Rp213,379,780,000 (full amount) and 5,692,521,050 common B shares with par value amounting to Rp569,252,105,000 (full amount). This amendment was received by the Minister of Justice and Human Rights of the Republic of Indonesia with its Decision Letter No. AHUAH.01.10-25437 dated December 18, 2008.

109





b.


a.


Penawaran Umum Saham Perdana (IPO) Bank

Initial Public Offering (IPO) of the Bank

Pada bulan Juni 2006 Bank melaksanakan Penawaran Umum Saham Perdana (IPO) sejumlah 843.766.500 saham atas nama Kelas B dengan nilai nominal sebesar Rp100 (nilai penuh) setiap saham yang menghasilkan penambahan modal ditempatkan dan disetor penuh sebesar Rp84.376.

In June 2006, the Bank conducted an Initial Public Offering (IPO) by issuing 843,765,500 common shares B with par value of Rp100 (full amount) per share resulting to an increase in issued and fully paid-up capital of Rp84,376.

Tambahan modal disetor agio saham bersih

b.

Additional paid-in capital - net

Tambahan modal disetor berupa agio saham berasal dari hasil penjualan 843.765.500 lembar saham atas nama kelas B baru pada saat IPO dengan nilai nominal Rp100 (nilai penuh) per saham yang dijual dengan harga penawaran Rp350 (nilai penuh) per saham.

Additional paid-in capital arose from the Bank’s IPO by issuing 843,765,500 common shares B with par value of Rp100 (full amount) per share with offering price of Rp350 (full amount) per share.

Pada tahun 2007, karyawan Bank mulai melakukan eksekusi atas opsi saham yang dimilikinya (Catatan 27). Saldo agio saham pada tanggal 31 Desember 2008, 2007, dan 2006 adalah sebagai berikut:

In 2007, the Bank’s employees started to exercise their share options (Note 27). The balance of the additional paid-in capital as at December 31, 2008, 2007, and 2006 are as follow:

Agio saham dari IPO Dikurangi: Biaya emisi

210.941 (26.247)

Saldo agio saham - bersih pada tanggal 31 Desember 2006

184.694

Balance of additional paid-in capital - net as at December 31, 2006

33.138

Additional paid-up capital arising from the exercise of share options

217.832

Balance of additional paid-in capital as at December 31, 2007

578

Additional paid-up capital arising from the exercise of share options

218.410

Balance of additional paid-in capital as at December 31, 2008

Agio saham yang berasal dari eksekusi opsi saham Saldo agio saham - bersih pada tanggal 31 Desember 2007 Agio saham yang berasal dari eksekusi opsi saham Saldo agio saham - bersih pada tanggal 31 Desember 2008

c.


Pembagian laba

Additional paid-in capital Less: Cost of IPO

c.

Berdasarkan Rapat Umum Pemegang Saham tanggal 14 Mei 2008, yang dinyatakan dengan akta notaris No. 28 dari Notaris Lindasari Bachroem S.H., pemegang saham setuju untuk membagikan dividen kas sebesar Rp187.563 atau 50% dari laba tahun 2007. Sisa dari laba tahun 2007 sebesar Rp187.563 digunakan sebagai dana cadangan umum.

Distribution of earnings Based on the General Shareholders’ Meeting on May 14, 2008 which was covered by notarial deed No. 28 of Lindasari Bachroem, S.H., the shareholders agreed to distribute cash dividends amounting to Rp187,563 or 50% of 2007 income. The remaining 2007 income amounting to Rp187,563 will be allocated as appropriated reserve.

110




26. EKUITAS (lanjutan) c.


Pembagian laba (lanjutan)

c.

Distribution of earnings (continued)

Berdasarkan Rapat Umum Pemegang Saham tanggal 23 Mei 2007, yang dinyatakan dengan akta notaris No. 30 dari Notaris Lindasari Bachroem S.H., pemegang saham setuju untuk membagikan dividen kas sebesar Rp126.086 atau 40% dari laba tahun 2006. Sisa dari laba tahun 2006 sebesar Rp189.130 akan digunakan sebagai cadangan umum.

Based on the General SharehoIders’ Meeting on May 23, 2007 which was covered by Notarial deed No. 30 of Lindasari Bachroem, S.H., the shareholders’ agreed to distribute cash dividends amounting to Rp126,086 or 40% of 2006 income. The remaining 2006 income amounting to Rp189,130 will be appropriated as general reserve.

Berdasarkan Rapat Umum Pemegang Saham tanggal 9 Mei 2006, yang dinyatakan dengan akta notaris No. 7 dari Notaris Lindasari Bachroem S.H., pemegang saham setuju untuk membagikan dividen kas sebesar Rp115.503 atau 45% dari laba tahun 2005. Sisa dari laba tahun 2005 sebesar Rp141.172 digunakan sebagai dana cadangan umum.

Based on the General Meeting of Shareholders on May 9, 2006 which was covered by notarial deed No. 7 of Lindasari Bachroem, S.H., the shareholders agreed to distribute cash dividends amounting to Rp115,503 or 45% of 2005 income. The remaining 2005 income amounting to Rp141,172 will be allocated as general reserve.

27. PROGRAM KOMPENSASI BERBASIS SAHAM (MSOP)

MANAJEMEN

27. MANAGEMENT (MSOP)

STOCK

OPTION

PROGRAM

Sesuai dengan Rapat Umum Pemegang Saham pada tanggal 20 April 2005 seperti yang telah diungkapkan dalam akta No. 26 dari Notaris Lindasari Bachroem, S.H., pemegang saham menyetujui penerbitan saham opsi yang akan dilaksanakan dalam 3 (tiga) tahap. Opsi saham diberikan kepada Direksi dan pekerja pada jabatan tertentu yang memenuhi persyaratan yang telah ditetapkan. Jumlah saham yang akan diterbitkan pada opsi saham tahap pertama hingga tahap ketiga adalah maksimum 5% (lima persen) dari modal disetor Bukopin dalam periode 3 (tiga) tahun tanpa memberikan hak terlebih dahulu kepada pemegang saham lama (Hak Memesan Efek Terlebih Dahulu). Opsi saham tahap pertama telah diberikan pada saat IPO.

Based on the General of Shareholders’ Meeting on April 20, 2005 as mentioned in deed No. 26 of Lindasari Bachroem, S.H., the stockholders approved the issuance of stock options in 3 (three) tranches. Stock options will be granted to Directors and employees at certain levels, who meet certain criteria. The number of stock option granted in MSOP tranche-1 through tranche-3 is the maximum of 5% (five percent) from the paid-up capital of the Bank in 3 (three) years period without giving priority to the existing shareholders to exercised their rights. Stock option tranche-1 was granted at the time of the IPO.

Berikut ini adalah detail dari pemberian MSOP tahap pertama, kedua, dan ketiga:

Following is the detail of the MSOP granted in first, second, and third tranches:

Jumlah Saham/ Number of Shares Tahap I Tahap II Tahap III

112.502.000 84.376.500 84.376.500

Tanggal pemberian/ Grant date 10 Juli/July 2006 10 Juli/July 2007 10 Juli/July 2008

Periode eksekusi/ Exercise period 10 Juli/July 2007 - 6 Juli/July 2011 10 Juli/July 2008 - 6 Juli/July 2012 10 Juli/July 2008 - 6 Juli/July 2013

111

Harga eksekusi (nilai penuh)/ Exercise price (full amount) 370 370 370

Nilai wajar (nilai penuh)/Fair value (full amount) 114 224 180

Tranche I Tranche II Tranche III




27. PROGRAM KOMPENSASI MANAJEMEN BERBASIS SAHAM (MSOP) (lanjutan)

27. MANAGEMENT STOCK (MSOP) (continued)

OPTION

PROGRAM

Jumlah opsi (nilai penuh)/ Number of options (full amount)

Opsi pada awal tahun Opsi yang diberikan selama tahun berjalan Opsi yang dieksekusi selama tahun berjalan Opsi yang gugur atau berakhir dengan sendirinya (forfeited) Opsi yang belum dieksekusi pada akhir tahun

2008

2007

105.631.500

112.502.000

-

Option at the beginning of the year

84.376.500

84.376.500

112.502.000

Option granted during the year

(1.521.000)

(87.234.500)

-

(2.336.000)

(4.012.500)

-

Option exercised during the year Option forfeited by the employees during the year

112.502.000

Unexercised options at end of year

186.151.000

2006

105.631.500

Nilai wajar dari opsi yang diberikan dihitung menggunakan model penentuan harga opsi Black Scholes dan menggunakan asumsi sebagai berikut: 2008 Suku bunga bebas risiko (risk free) Ekspektasi periode opsi (tahun) Ekspektasi faktor ketidakstabilan harga saham Ekspektasi dividen yang dihasilkan Tingka opsi yang gagal diperoleh (forfeitures)

The fair value of the options granted is calculated using the Black Scholes option-pricing model and uses the following assumptions: 2007

2006

12,5%

9,5%

5

5

64,96% 6,17%

34,72%

37,82%

Expected stock’s volatility

6,17%

2,39%

6,17%

2,39%

Jumlah biaya opsi saham yang tercatat pada akun Beban “Gaji dan Tunjangan Karyawan - Tunjangan Karyawan” (Catatan 34) untuk tahun yang berakhir pada tanggal 31 Desember 2008 adalah sebesar Rp16.592 (2007: Rp15.473; 2006: Rp5.892).

3,62%

Forfeiture rate

Total stock option expense included in “Salaries and Employee Benefits - Employee Benefits” (Note 34) for the year ended December 31, 2008 amounting Rp16,592 (2007: Rp15,473; 2006: Rp5,892).

28. PENDAPATAN BUNGA

28. INTEREST INCOME

Pendapatan bunga diperoleh dari:

Interest income is derived from the following: 2008

Rupiah: Kredit yang diberikan Surat-surat berharga Penempatan pada Bank Indonesia dan bank lain Surat-surat berharga yang dibeli dengan janji dijual kembali Giro pada Bank Indonesia Giro pada bank lain Deposito berjangka

11,42% Excepted period of option (years)

5

2007

2006

2.454.632 353.551

1.935.740 728.038

1.961.845 730.431

72.075

22.961

56.409

22.901 11.942 781 -

7.384 26.848 121 -

6.400 28.619 948 12

2.915.882

2.721.092

2.784.664

112

Rupiah: Loans Marketable securities Placements with Bank Indonesia and other banks Marketable securities purchased with agreements to resell Current accounts with Bank Indonesia Current accounts with other banks Time deposits




28. PENDAPATAN BUNGA (lanjutan)

28. INTEREST INCOME (continued) 2008

Mata uang asing: Penempatan pada pasar uang Kredit yang diberikan Surat-surat berharga Deposito berjangka Giro pada bank lain Tagihan lainnya Surat-surat berharga yang dibeli dengan janji dijual kembali

2007

2006 Foreign currencies:

64.579

145.871

98.334 4.596 631 302

25.475

84.134 5.750 2.146 1.159 44

66.621 9.966 5.137 980 -

86

-

-

168.528

239.104

108.179

3.084.410

2.960.196

2.892.843

Transaksi dengan pihak yang mempunyai hubungan istimewa diungkapkan pada Catatan 38.

Transactions with related parties is presented in Note 38.

29. PENDAPATAN PROVISI DAN KOMISI

29. FEES AND COMMISSION INCOME

Pendapatan provisi dan komisi diperoleh dari: 2008

Money market place

Loans Marketable securities Time deposits Current accounts with other banks Other receivables Marketable securities purchased with agreements to resell

Fees and commissions are derived from the following: 2007

2006

Rupiah Mata uang asing

187.810 10.890

185.895 1.806

121.074 1.960

Rupiah Foreign currency

Jumlah

198.700

187.701

123.034

Total

Seluruh pendapatan provisi dan komisi berasal dari transaksi kredit yang diberikan.

Fees and commission incomes are from loans transactions.

30. BEBAN BUNGA DAN PEMBIAYAAN LAINNYA

30. INTEREST EXPENSE AND OTHER FINANCING CHARGES

Akun ini merupakan beban bunga dan pembiayaan lainnya atas: 2008 Rupiah: Deposito berjangka Giro Tabungan Surat-surat berharga yang diterbitkan Pinjaman yang diterima Simpanan dari bank lain Surat berharga yang dijual dengan janji dibeli kembali

Mata uang asing: Deposito berjangka Giro Simpanan dari bank lain Pinjaman yang diterima

Jumlah

This account represents interest expenses and other financing charges for the following: 2007

2006

1.239.702 161.172 114.041

1.221.077 238.992 78.500

1.250.352 209.443 61.974

39.956 79.615 89.482

69.275 71.588 62.822

73.726 87.212 77.041

12.307

8.471

2.496

1.736.275

1.750.725

1.762.244

127.869 7.448 611 502

123.537 19.185 1.392 -

44.204 5.873 155 757

136.430

144.114

50.989

1.872.705

1.894.839

1.813.233

113

Rupiah: Time deposits Demand deposits Savings deposits Marketable securites issued Borrowings Deposits from other banks Marketable securities sold with agreements to repurchase

Foreign currency: Time deposits Demand deposits Deposits from other banks Borrowings

Total




30. BEBAN BUNGA DAN PEMBIAYAAN LAINNYA (lanjutan)

30. INTEREST EXPENSE AND OTHER FINANCING CHARGES (continued)

Transaksi dengan pihak yang mempunyai hubungan istimewa diungkapkan pada Catatan 38.

Transactions with related parties is presented in Note 38.

31. PENDAPATAN OPERASIONAL LAINNYA - LAINLAIN 2008 Jasa administrasi Imbalan jasa Denda keterlambatan pembayaran Keuntungan atas penjualan Sertifikat Bank Indonesia Lain-lain Jumlah

31. OTHER OPERATING INCOME - OTHERS

2007 55.373

2006 48.741

40.229 48.913 14.793

15.731 57.328

74.025 12.975

29.073 7.743

Administrative service charges 36.555 14.584 Gain on sell of Bank Indonesia Certificates Others

211.602

199.447

128.184

Total

61.195 21.975

Imbalan merupakan pendapatan yang berasal dari penerimaan imbalan atas pembayaran listrik, air, dan telepon melalui Bank dan pendapatan imbalan ATM bersama.

Fees represent processing fees charged by the Bank to customers for electricity, water, and telephone payments made through the Bank, and income from ATM sharing.

Lain-lain merupakan pendapatan dari jasa-jasa yang diberikan oleh Bank yang antara lain meliputi penyaluran subsidi bahan bakar minyak, jasa penerusan kredit, taksasi agunan, diskon merchant, dan security agent.

Others consist of fees from services performed by the Bank, which include among others: distribution of fuel subsidy, channeling loan, collateral appraisal, merchant discount, and security agent.

32. BEBAN PENYISIHAN PRODUKTIF - BERSIH

KERUGIAN

AKTIVA

32. ALLOWANCE FOR ASSETS - NET

Akun ini merupakan pembentukan dan/atau pemulihan penyisihan kerugian aktiva produktif sebagai berikut: 2008

LOSSES ON EARNING

This account represents addition and/or reversal of allowance for losses on earning assets as follows:

2007

(6.989)

2006 240

(19.539) 9 (116)

(12.370) (378) 2

(17.498) (2.343) (13)

Placement with other banks (Note 6e) Marketable securities (Note 7h) Derivates receivables (Note 9)

(58.775) (393) 591

(20.555) 34 26

(123.773) (309) (224)

Loans and Sharia financing/ receivables (Note 10) Acceptance receivables (Note 11d) Investments (Note 12)

Jumlah

(85.212)

(33.001)

(144.554)

Total

114

(394)

Current accounts with other banks (Note 5d)

Giro pada bank lain (Catatan 5d) Penempatan pada bank lain (Catatan 6e) Surat-surat berharga (Catatan 7h) Tagihan derivatif (Catatan 9) Kredit yang diberikan dan pembiayaan piutang Syariah (Catatan 10) Tagihan akseptasi (Catatan 11d) Penyertaan (Catatan 12)




33. BEBAN UMUM DAN ADMINISTRASI

33. GENERAL AND ADMINISTRATIVE EXPENSES

2008

2007

2006

Iklan dan promosi Sewa Penyusutan aset tetap (Catatan 13) Perbaikan dan pemeliharaan Outsourcing Komunikasi Transportasi Honorarium tenaga ahli Pendidikan dan pelatihan Perlengkapan kantor Visa Elektron Listrik dan air Asuransi Pajak dan izin Perpustakaan, majalah, dan koran Rekrutmen karyawan Keanggotaan Hukum Lain-lain

107.952 61.544

97.141 54.157

43.496 53.392

Advertising and promotion Rent

52.036 45.820 44.334 41.826 34.015 26.950 25.993 18.194 17.992 12.859

47.886 37.189 32.143 39.327 24.155 28.151 22.748 15.032 7.905 10.770

50.944 42.656 26.057 37.563 24.575 17.763 18.307 15.701 3.879 9.351

Depreciation (Note 13) Repairs and maintenance Outsourcing Communications Transportation Professional fees Education and training Office supplies Visa Electron Electricity and water

1.850 20 83.599

784 2 79.535

290 53 9.797 68.877

Employee recruitment Memberships Legal Others

Jumlah

592.052

510.504

433.774

Total

9.687

8.207

5.133

7.361

3.661 2.248

1.711

Lain-lain meliputi antara lain biaya penggunaan ATM bersama, biaya pakaian seragam, kerugian penyertaan saham perusahaan asosiasi, biaya proses warkat kliring, biaya jasa kerjasama kartu kredit, operasional kendaraan kantor, dan biaya jasa pengambilan dan pengantaran uang.

Taxes and licenses

1.650

Others consist of expenses of ATM sharing, employees’ unifom, loss from investments in shares of stock, clearing form expenses, credit sharing expenses, operational vehicle expenses, and money transfer charges.

34. BEBAN GAJI DAN TUNJANGAN KARYAWAN

2008

2.062

34. SALARIES EXPENSES 2007

EMPLOYEE

BENEFITS

2006

Gaji, insentif,dan lembur Tunjangan karyawan Asuransi karyawan Dana pensiun (Catatan 37) Beban opsi saham (Catatan 27) Beban imbalan pasca kerja dan jangka panjang lainnya (Catatan 37)

223.788 174.414 24.973 17.604 16.592

196.976 167.089 20.949 12.625 15.473

7.317

5.015

Jumlah

464.688

418.127

Pada tahun 2008, beban gaji dan tunjangan karyawan untuk dewan komisaris, direksi, dewan pengawas syariah, komite audit, dan pejabat eksekutif tidak termasuk tantiem dan tunjangan pajak adalah sebesar Rp52.201 (2007: Rp45.816; 2006: Rp38.679).

AND

181.520 Salaries, bonuses, and overtime payments 113.411 Employee benefits 21.989 Employee insurance 13.232 Pension benefits (Note 37) 5.892 Share options expense (Note 27) Provision for post employment and other 5.125 long term benefits (Note 37) 341.169

Total

In 2008, salaries and other benefits included benefits for the commissioners, directors, sharia supervisory board, audit committee, and executive officers excluding tantiem and tax allowance amounting to Rp52,201 (2007: Rp45,816; 2006: Rp38,679).

115




35. PENDAPATAN (BEBAN) NON OPERASIONAL BERSIH 2008 Keuntungan dari penjualan agunan yang diambil alih Keuntungan dari penjualan aset tetap (Catatan 13) Kerugian penurunan nilai pasar agunan yang diambil alih Denda pajak (Catatan 20e) Lain-lain Jumlah

35. NON-OPERATING INCOMES (EXPENSES) - NET 2007

2006

1.916

1.552

2.128

15.523

1.100

1.093

(15.493) (3.892)

(313) (207) 13.358

(2.822) (28) 29.405

(1.946)

15.490

29.776

Pada tahun 2006, lain-lain termasuk pembalikan cadangan kerugian atas kasus hukum dengan PT Bank Pinaesaan karena kasus ini telah dimenangkan oleh Bank sesuai dengan Keputusan Mahkamah Agung No. Register 309PKD/PDT/2003 tanggal 27 April 2006.

36. SEGMENT INFORMATION

Segmen primer

a.

Berikut ini adalah informasi segmen Bank dan anak perusahaan berdasarkan kegiatan usaha yang terdiri dari kelompok perbankan konversional, pembiayaan, dan perbankan berdasarkan konsep Syariah. (i)

Total

In 2006, others included a reversal of accrued litigation with PT Bank Pinaesaan since the Bank won this case based on the decision of the Supreme Court No. Register 309-PKD/PDT/2003 dated April 27, 2006.

36. INFORMASI SEGMEN USAHA a.

Gain from sale of foreclosed assets Gain from sale of fixed assets (Note 13) Loss from decrease in market value of foreclosed assets Tax penalty (Note 20e) Others - net

Outlined below is business segment information of the Bank and subsidiaries, based on business activities consisting of conventional banking, multi-finance, and banking activities based on Sharia principles.

Pendapatan bunga konsolidasian

(i)

2008 %

Primary segment

Consolidated interest income

2007 Rupiah

%

2006 Rupiah

%

Rupiah

Perbankan konvensional Pembiayaan Syariah

96,34 0,09 3,57

3.256.805 3.100 120.717

97,97 0,04 1,99

3.147.897 1.331 63.982

98,25 0,03 1,72

3.015.877 927 52.866

Jumlah sebelum eliminasi Eliminasi

100,00

3.380.622 (8.792)

100,00

3.213.210 (1.331)

100,00

3.069.670 (927 )


3.371.830

3.211.879

(ii) Laba operasional konsolidasian - bersih 2007 Rupiah

%


2006 Rupiah

%

Rupiah


97,55 0,10 2,35

540.647 567 13.012

96,96 0,11 2,93

512.589 596 15.476

98,78 0,07 1,15

425.036 309 4.924


100.00

554.226 (1.443)

100,00

528.661 (540)

100,00

430.269 (142 )

Pendapatan operasional konsolidasian - bersih

Total before elimination Elimination

(ii) Consolidated operating income - net

2008 %

3.068.743

Conventional banking Multi-finance Sharia

552.783

528.121

116

430.127

Conventional banking Multi-finance Sharia Total before elimination Elimination Consolidated operating income - net




36. INFORMASI SEGMEN USAHA (lanjutan) a.

36. SEGMENT INFORMATION (continued)

Segmen primer (lanjutan)

a.

(iii) Laba bersih konsolidasian

(iii) Consolidated net income 2008

%

2007 Rupiah

%

2006 Rupiah

Rupiah

92,34 0,08 7,58

351.728 311 28.874

97,67 0,18 2,15

367.044 676 8.082

100,57 0,13 (0,70)

317.458 432 (2.242)


100,00

380.913 (12.133)

100,00

375.802 (676)

100,00

315.648 (432 )

368.780

375.126

(iv) Jumlah aktiva konsolidasian 2007 %


95,54 0,09 4,37

31.800.436 29.799 1.454.865

98,07 0,07 1,86

33.814.417 24.729 640.395

98,06 0,08 1,86

30.986.528 24.228 587.165


100,00

33.285.100 (652.037)

100,00

34.479.541 (33.364)

100,00

31.597.921 (41.778 )

Jumlah aktiva konsolidasian

Rupiah

32.633.063

%

2007

Total before elimination Elimination Total consolidated assets

2006

%

Rupiah

%


96,37 0,01 3,62

29.839.993 4.830 1.119.639

98,52 0,00 1,48

31.982.624 71 480.120


100,00

30.964.462 (499.369)

100,00

32.462.815 (13.638)

Rupiah

30.465.093

%

b.

Berikut ini adalah informasi segmen Bank dan anak perusahaan berdasarkan daerah geografis:

29.315.950 246 589.407

100,00


29.905.603 (22.592 )


29.883.344 Total consolidated liabilities

Secondary Segment Following is the business segment information of the Bank and subsidiaries based on geography:


(i)

2008


2007 Rupiah

Rupiah

98,03 0,00 1,97

32.476.453

Segmen Sekunder


31.556.143


(v) Total consolidated liabilites

2008

Jumlah kewajiban konsolidasian

Rupiah

34.446.177

(v) Jumlah kewajiban konsolidasian


Consolidated net income

2006

Rupiah

Jabotabek Jawa selain Jabotabek Sumatera Kalimantan Lain-lain


315.216

%

%


(iv) Total consolidated assets 2008

(i)

%


Laba bersih konsolidasian

b.

Primary segment (continued)

%

2006 Rupiah

%

Rupiah

74,04 11,66 7,49 2,59 4,22

2.502.954 394.110 253.067 87.425 143.066

78,63 9,30 5,96 2,48 3,63

2.526.574 298.851 191.663 79.528 116.594

76,78 10,60 6,70 2,58 3,34

2.356.877 325.570 205.786 79.052 102.385

100,00

3.380.622 (8.792)

100,00

3.213.210 (1.331)

100,00

3.069.670 (927 )

3.371.830

3.211.879

117

3.068.743

Jabotabek Java other than Jabotabek Sumatera Kalimantan Others Total before elimination Elimination Consolidated interest income




36. INFORMASI SEGMEN USAHA (lanjutan) b.

36. SEGMENT INFORMATION (continued)

Segmen sekunder (lanjutan)

b.

(ii) Laba operasional konsolidasian - bersih

(ii) Consolidated operating income - net

2008 % Jabotabek Jawa selain Jabotabek Sumatera Kalimantan Lain-lain Jumlah sebelum eliminasi Eliminasi

2007 Rupiah

%

349.212 57.749 67.463 29.537 24.700

71,05 9,11 11,19 5,77 2,88

305.725 39.183 48.151 24.838 12.372

100.00

554.226 (1.443)

100,00

528.661 (540)

100,00

430.269 (142 )

552.783

528.121

2007 Rupiah

%

Consolidated operating income - net

Rupiah

51,22 16,32 17,86 7,75 6,85

192.486 61.328 67.118 29.155 25.715

59,94 13,18 15,29 7,73 3,86

189.212 41.604 48.266 24.410 12.156

100.00

380.913 (12.133)

100,00

375.802 (676)

100,00

315.648 (432 )

368.780

375.126

315.216

Jabotabek Java other than Jabotabek Sumatera Kalimantan Others Total before elimination Elimination Consolidated net income

(iv) Total consolidated assets 2008

2007

2006

%

Rupiah

%

78,08 10,09 6,47 2,06 3,30

25.990.564 3.359.851 2.152.572 684.172 1.097.941

70,64 11,86 11,09 2,75 3,66

24.358.239 4.088.419 3.822.708 949.306 1.260.869

70,31 12,65 11,03 2,67 3,34

22.217.608 3.995.667 3.484.305 844.390 1.055.951

Jabotabek Java other than Jabotabek Sumatera Kalimantan Others

100.00

33.285.100 (652.037)

100,00

34.479.541 (33.364)

100,00

31.597.921 (41.778)


31.556.143

Total consolidated assets

Jumlah aktiva konsolidasian

Rupiah

32.633.063

%

Rupiah

34.446.117

(v) Jumlah kewajiban konsolidasian

(v) Total consolidated liabilities

2008

Jumlah kewajiban konsolidasian

%

286.736 68.176 (30.033) 17.756 38.278

(iv) Jumlah aktiva konsolidasian



2006 Rupiah

75,27 17,90 (7,88) 4,66 10,05

Laba bersih konsolidasian


430.127

Jabotabek Java other than Jabotabek Sumatera Kalimantan Others

(iii) Consolidated net income

%


Rupiah

66,06 10,92 12,76 5,58 4,68

2008


%

466.517 63.398 (32.487) 18.260 38.538

(iii) Laba bersih konsolidasian


2006 Rupiah

84,17 11,45 (5,86) 3,29 6,95

Laba operasional konsolidasian - bersih


Secondary segment (continued)

2007

2006

%

Rupiah

%

64,62 13,91 13,21 3,71 4,55

20.009.451 4.307.922 4.090.747 1.149.340 1.407.002

69,38 12,41 11,57 2,83 3,81

22.522.314 4.027.109 3.755.220 920.151 1.238.021

69,06 13,22 11,49 2,74 3,49

20.651.727 3.954.063 3.436.038 819.980 1.043.795

100,00

30.964.462 (499.369)

100,00

32.462.815 (13.638)

100,00

29.905.603 (22.592 )

30.465.093

Rupiah

32.476.453

118

%

Rupiah Jabotabek Java other than Jabotabek Sumatera Kalimantan Others Total before elimination Elimination

29.883.344 Total consolidated liabilities




37. PROGRAM DANA PENSIUN KESEJAHTERAAN KARYAWAN

DAN

37. PENSION PLAN AND EMPLOYEE SERVICE ENTITLEMENTS

Imbalan Pensiun

Pension benefits

Bank menyelenggarakan program pensiun manfaat pasti untuk seluruh karyawan tetap Bank yang telah dikelola dan diadministrasikan oleh Dana Pensiun Bank Bukopin yang memperoleh persetujuan dari Menteri Keuangan Republik Indonesia untuk mengganti statusnya dari Yayasan menjadi Dana Pensiun pada tanggal 4 Juli 1995.

The Bank sponsors a defined benefit pension retirement program covering all its permanent employees which is managed and administered by Dana Pensiun Bank Bukopin which was approved by the Minister of Finance of Republic of Indonesia to change its status from a foundation to a pension fund management on July 4, 1995.

Program tersebut memberikan manfaat pensiun yang akan dibayarkan kepada karyawan yang berhak pada saat karyawan pensiun atau pada saat karyawan tersebut berhenti sesuai dengan peraturan dana pensiun yang bersangkutan yang dibuat sesuai dengan Undang Undang (UU) No. 13/2003 tentang Ketenagakerjaan. Manfaat pensiun dihitung berdasarkan masa kerja karyawan tersebut pada Bank dan tingkat gaji terakhir pada saat pensiun.

The plan provides for benefits to be paid to eligible employees at retirement or when the employees resign according to the pension fund regulation which is designed to comply with Labor Law No. 13/2003. The benefits paid at retirement are based primarily upon years of service with the Bank and compensation rates near the retirement age.

Iuran peserta adalah sebesar 2,5% dari penghasilan dasar pensiun karyawan dan sisa jumlah yang diperlukan untuk mendanai program tersebut ditanggung oleh Bank.

The members’ contributions are 2.5% of their pension based salaries and the remaining amount required to fund the plan is contributed by the Bank.

Perhitungan aktuaria atas biaya manfaat pensiun untuk Bank saja pada tanggal 31 Desember 2008 dan 2007 telah didasarkan atas laporan dari PT Eldridge Gunaprima Solution tertanggal 23 Maret 2009 dan 25 Maret 2008, sedangkan pada tanggal 31 Desember 2006 oleh PT Sentra Jasa Aktuaria tertanggal 16 Maret 2007 dengan menggunakan metode Projected Unit Credit.

The actuarial calculations for the defined benefit pension plan for Bank only as at December 31, 2008 and 2007 were prepared by PT Eldridge Gunaprima Solution based on their reports dated March 23, 2009 and March 25, 2008, respectively, whereas the calculation as at December 31, 2006 were prepared by PT Sentra Jasa Aktuaria based on their reports dated March 16, 2007 using the Projected Unit Credit method.

Perhitungan aktuaria atas biaya manfaat pensiun untuk BSB pada tanggal 31 Desember 2008 dan 2007 telah didasarkan atas laporan dari PT Eldridge Gunaprima Solution tertanggal 20 Maret 2009.

The actuarial calculations for the defined benefit pension plan for BSB as at December 31, 2008 and 2007 were prepared by PT Eldridge Gunaprima Solution based on their reports dated March 20, 2009.

Jumlah yang diakui di neraca ditentukan sebagai berikut:

The amounts recognized in the consolidated balance sheets are determined as follows:

konsolidasian

2008 Nilai wajar aktiva progam Nilai kini kewajiban manfaat pasti yang didanai Keuntungan aktuarial yang belum diakui Aktiva yang tidak diakui karena pembatasan Biaya manfaat pensiun dibayar di muka pada akhir tahun

2007

2006

242.609

209.372

184.038

(206.667)

(188.847)

(148.535)

Fair value of plan assets Present value of funded defined benefit obligation

(10.078)

(1.987)

(24.014)

Unrecognized actuarial gains

(25.864)

(15.514)

-

3.024

119

-

Disallowed asset due to limitation

11.489

Prepaid pension costs at end of year




120




37. PROGRAM DANA PENSIUN KESEJAHTERAAN KARYAWAN (lanjutan)

DAN

37. PENSION PLAN AND EMPLOYEE SERVICE ENTITLEMENTS (continued)

Imbalan Pensiun (lanjutan)

Pension benefits (continued)

Jumlah yang diakui di laporan laba konsolidasian ditentukan sebagai berikut:

rugi

2008 Biaya jasa kini Bunga atas biaya manfaat pensiun saat ini (Keuntungan)/kerugian aktuaria yang diakui Hasil yang diharapkan atas aktiva program

2007

2006

10.683

10.246

9.615

Current service costs

18.497

14.561

14.843

Interest current benefit pension costs

24

-

(354)

(21.407)

(18.877)

(22.082)

Actuarial (gain)/loss recognized Expected actuarial gains from assets program

7.773

5.576

2.400

Employee benefit expense - net

3.024

11.489

657

Prepaid pension costs at beginning of year

(7.773)

(5.576)

(2.400)

17.604 (8.790)

12.625 -

13.232 -

Pension cost during the year Bank contributions during the year (Note 34) Recognition of current year loss

(4.065)

(15.514)

-

Disallowed assets due to limitation

11.489

Prepaid pension costs at end of year

Biaya manfaat pensiun - bersih Biaya manfaat pensiun dibayar dimuka awal tahun Biaya manfaat pensiun selama tahun berjalan Iuran Bank selama tahun berjalan (Catatan 34) Pengakuan kerugian tahun berjalan Aktiva yang tidak diakui karena pembatasan

The amounts recognized in the consolidated statements of income are as follows:

Biaya manfaat pensiun dibayar dimuka akhir tahun

-

3.024

Asumsi-asumsi yang digunakan dalam perhitungan aktuaria untuk tahun 2008, 2007, dan 2006 adalah sebagai berikut:

The assumptions used in the actuarial calculation in 2008, 2007, and 2006 are as follows:

2008

Bank/ Bank Asumsi ekonomi: Tingkat diskonto

12% per tahun/ per annum

Tingkat pengembalian aktiva 10% per tahun/ per annum Tingkat rata-rata kenaikan penghasilan


Tingkat Kenaikan harga emas 9% per tahun/ per annum Assumsi lainnya: Usia pensiun normal 55 tahun/years Tingkat pengunduran diri 1% pada usia 30 tahun yang menurun secara linear 0,1% sampai pada usia 49 tahun dan 1% up to age 30 2% untuk usia 50 and decreasing sampai 54 tahun/ linearly up to 1% up to age 30 and decreasing linearly 0,1% up to age 49 and 2% for ages 50 to 54

Akuisisi Anak Perusahaan/ Acquisition of Subsidiary 12% per tahun/ per annum

2007 10% per tahun/ per annum

2006 10% per tahun/ per annum

-






-

-

-

55 tahun/years 55 tahun/years 5% pada usia 1% pada usia 25 tahun yang 30 tahun yang menurun secara menurun secara linear 1% linear 0,1% sampai pada sampai pada usia 45 tahun/

55 tahun/years 1% pada usia 30 tahun yang menurun secara linear sampai pada usia 52 tahun/ usia 49 tahun dan 2% untuk usia 50

and decreasing

sampai 54 tahun/

1% up to age 30 and decreasing linearly 0,1% up to age 49 and 2% for ages 50 to 54

121

Expected rate of return on plan assets

Average salary increase rate Gold price increase

5% up to age 25

linearly 1% up to age 45

Economic assumptions: Discount rate

age 52

Other assumptions: Normal retirement age Turn-over rate



PT BANK BUKOPIN TBK. DAN ANAK-ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tahun yang Berakhir pada Tanggal-tanggal 31 Desember 2008 dan 2006 Dengan Angka Perbandingan Untuk 2007 (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain) Tingkat kematian

Table Mortalita Indonesia 1999 (TMI’99)



122


Mortality rate




37. PROGRAM DANA PENSIUN KESEJAHTERAAN KARYAWAN (lanjutan)

DAN

37. PENSION PLAN AND EMPLOYEE SERVICE ENTITLEMENTS (continued)

Kesejahteraan karyawan

Employees’ service entitlements

Kesejahteraan karyawan meliputi uang jasa, uang pisah, pesangon, tunjangan cuti besar, dan kompensasi lainnya, dikompensasikan dengan imbalan pensiun. Kewajiban estimasi untuk kesejahteraan karyawan merupakan selisih antara UU No. 13/2003 dan program dana pensiun yang diselenggarakan oleh Dana Pensiun Bank Bukopin.

Employee service entitlements consist of service payments, severance payments, termination benefits, long-term service awards and other compensation, compensated with retirement benefits. The estimated liability for employee service entitlements represents the difference between the Labor Law No. 13/2003 and the pension program provided by the Bank’s Pension Fund.

Beban yang diakui pada laporan konsolidasian adalah sebagai berikut:

The expenses recorded in the statements of income are as follows:

laba

rugi

consolidated

2008 Akuisisi Anak Perusahan / Acquisition of Subsidiary

Bank/ Bank

Jumlah/ Total

2007

2006

Biaya jasa kini

4.437

40

4.477

1.622

2.203

Biaya bunga Kerugian aktuaria yang diakui Amortisasi biaya jasa lalu non-vested

2.268 73

301 (45)

2.569 28

2.565 817

882 2.029

202

41

243

11

11

Current service costs Interest current benefit pension costs Actuarial loss recognized Amortization of past service cost non-vested

6.980

337

7.317

5.015

5.125

Expenses in the consolidated statements of income (Note 34)

Beban yang diakui dalam laporan laba rugi konsolidasian (Catatan 34)

Kewajiban estimasi untuk kesejahteraan karyawan:

Estimated liability entitlements:

for

employee

service

2008

Bank/ Bank Nilai kini kewajiban Kerugian aktuaria yang belum diakui Biaya jasa lalu yang belum diakui non-vested Kewajiban yang diakui pada neraca konsolidasian (Catatan 25)

Akuisisi Anak Perusahan / Acquisition of Subsidiary

31.172

2.902

(7.475)

1.427

(2.689)

21.008

(357)

3.972

Jumlah/ Total

2007

2006

34.074

16.948

26.462

(6.048)

(1.443)

(15.568)

(3.046)

(186)

(197)

24.980

123

15.319

10.697

Current liability Unrecognized amount of actuarial loss Unrecognized amount of past service cost - non-vested Liability in the consolidated financial statements (Note 25)




37. PROGRAM DANA PENSIUN DAN KARYAWAN (lanjutan)

37. PENSION PLAN ENTITLEMENTS (continued)

Kesejahteraan karyawan (lanjutan)

Employees’ service entitlements (continued)

Perubahan kewajiban estimasi untuk kesejahteraan karyawan adalah sebagai berikut:

The changes in estimated liability for employee service entitlements are as follows:

2008 Akuisisi Anak Perusahan / Acquisition of Subsidiary

Bank/ Bank

337

Jumlah/ Total

2007

Saldo awal tahun Beban selama tahun berjalan Pembayaran manfaat selama tahun berjalan Akuisisi anak perusahaan

15.319 6.980

15.319 7.317

(1.291) -

3.635

(1.291) 3.635

Saldo akhir tahun

21.008

3.972

24.980

2006

10.697 5.015

5.602 5.125

(393) -

(30) -

15.319

10.697

Balance at beginning of year Expense during the year Compensation payments during the year Acquisition of a subsiduary Balance at end of year

Asumsi-asumsi utama yang digunakan oleh aktuaris independen dalam perhitungan kesejahteraan karyawan Bank adalah sama dengan yang digunakan dalam perhitungan manfaat imbalan pensiun diatas.

The principal actuarial assumptions used by the independent actuary in calculating the Bank’s employee service entitlements are the same with the assumptions used in calculating the aforementioned pension benefits.

38. TRANSAKSI PIHAK-PIHAK YANG MEMPUNYAI HUBUNGAN ISTIMEWA

38. TRANSACTIONS WITH RELATED PARTIES

Dalam menjalankan kegiatan usahanya, Bank melakukan transaksi-transaksi dengan pihak-pihak yang mempunyai hubungan istimewa.

In the normal course of business, the Bank entered into certain transactions with related parties.

2008

2007

Aktiva Giro pada bank lain - bruto: PT Bank Syariah Bukopin (dahulu PT Bank Persyarikatan Indonesia) *)

-

Penempatan pada Bank Indonesia dan bank lain - bruto: PT Bank Syariah Bukopin (dahulu PT Bank Persyarikatan Indonesia) *) Kredit yang diberikan dan pembiayaan/piutang Syariah - bruto: Bulog Direksi, Dewan Komisaris, Dewan Pengawas Syariah dan Pejabat Eksekutif *)

2006 Assets Current account with other banks - gross: PT Bank Syariah Bukopin (formerly PT Bank Persyarikatan 3.094

3.191

Indonesia)

Placements with Ba

-

other bank - gross: PT Bank Syariah Bukopin (formerly PT Bank Persyarikatan 99.200

178.300

-

5.403.668

13.750

14.480

4.712.833

5.839 *)

PT Bank Persyarikatan Indonesia menjadi perusahaan asosiasi Bank sejak tahun 2006 dan sejak 2008 menjadi anak perusahaan Bank.

124

Loans and Sharia financing/ receivables-gross: Bulog Directors, Commissioners, Sharia Supervisory Board and Executive Offices

PT Bank Persyarikatan Indonesia became the Bank’s associated company since 2006 and became the Bank’s subsidiary since 2008.

Indonesia)




38. TRANSAKSI PIHAK-PIHAK YANG MEMPUNYAI HUBUNGAN ISTIMEWA (lanjutan) 2008 PT Mitra Data Sarana PT Mitra Usaha Sarana PT Kelola Jasa Artha PT Kariyana Gita Utama PT Mitramas Infosys Global PT Sistemmaju Mandiri Perkasa KSU BMT Surya Utama Bina Dana Sejahtera PT Bank Madya Dhaha Ekonomi Aktiva lain-lain: PT Bank Madya Dhaha Ekonomi PT Bank Syariah Bukopin (dahulu PT Bank Persyarikatan Indonesia) *) Jumlah aktiva untuk pihak yang mempunyai hubungan istimewa

2007

Jumlah kewajiban untuk pihak yang mempunyai hubungan istimewa Persentase terhadap jumlah kewajiban Pendapatan bunga Persentase terhadap pendapatan bunga Beban bunga Persentase terhadap beban bunga dan pembiayaan lainnya

6.342 2.549 1.705 6 -

9.960 1.148 68 2.062

30.303

5.428.750

4.731.910

400

-

-

-

100.000

30.703

5.710.241

PT Mitra Data Sarana PT Mitra Usaha Sarana PT Mitra Data Sarana PT Bank Madya Dhaha Ekonomi *)

4.834.204

0,09%

16,58%

PT Mitra Data Sarana PT Mitra Usaha Sarana PT Kelola Jasa Artha PT Kariyana Gita Utama PT Mitramas Infosys Global PT Sistemmaju Mandiri Perkasa KSU BMT Surya Utama Bina Dana Sejahtera PT Bank Madya Dhaha Ekonomi

Others assets: PT Bank Madya Dhaha Ekonomi PT Bank Syariah Bukopin (formerly PT Bank Persyarikatan -

Indonesia)

Total related party assets

15,32%

18.625 7.589 291.176 -

835.638 8.402 2.413.291 304.200

2.949.707 2.535 2.227.431 211.433

304

-

-

Liabilites Demand deposits Savings deposits Time deposits Deposits from other banks Derivative payables: Executive officers

317.694

3.561.531

5.391.106

Total related party liabilities

1,04%

10,97%

18,04%

Percentage to total liabilities

216.966

697.789

673.776

Interest income

6,8%

21,77%

21,99%

Percentage to total interest income

123.668

236.141

213.677

Interest expense

6,4%

12,27%

11,60%

Percentage to total

Hubungan dengan pihak yang mempunyai hubungan istimewa adalah sebagai berikut: Pihak yang mempunyai Hubungan istimewa

2006

7.100 3.882 2.816 1.477 825 387 66 -

Persentase terhadap jumlah aktiva Kewajiban Giro Tabungan Deposito berjangka Simpanan dari bank lain Kewajiban derivatif: Pejabat eksekutif

38. TRANSACTIONS WITH RELATED PARTIES (continued)

and other financing charges

The relationships with related parties are as follows:

Sifat dari hubungan/ Relationship

Related Parties

Kepengurusan manajemen yang sama/ Same management Kepengurusan manajemen yang sama/ Same management Kepengurusan manajemen yang sama/ Same management Kepengurusan manajemen yang sama/ Same management *)

PT Bank Persyarikatan Indonesia menjadi perusahaan asosiasi Bank sejak tahun 2006 dan sejak 2008 menjadi anak-anak perusahaan Bank.

125

PT Mitra Data Sarana PT Mitra Usaha Sarana PT Mitra Data Sarana PT Bank Madya Dhaha Ekonomi





38. TRANSAKSI PIHAK-PIHAK YANG MEMPUNYAI HUBUNGAN ISTIMEWA (lanjutan) Pihak yang mempunyai hubungan istimewa

Sifat dari hubungan istimewa/ Relationship

Bina Dana Sejahtera

PT Mitramas Infosys Global Yayasan Bina Sejahtera Warga (Yabinstra) Bulog PT Bank Syariah Bukopin (dahulu PT Bank Persyarikatan Indonesia) *) PT Kariyana Gita Utama

Bina Dana Sejahtera PT Kelola Jasa Artha PT Mitramas Infosys Global Yayasan Bina Sejahtera Warga (Yabinstra) Bulog PT Bank Syariah Bukopin (formerly PT Bank Persyarikatan Indonesia) *) PT Kariyana Gita Utama

Pemegang saham yang sama/ A same shareholder Pemegang saham yang sama/ A same shareholder Kepengurusan/Manajemen yang sama A same management

PT Sistemmaju Mandiri Perkasa KSU BMT Surya Utama

*)

PT Bank Persyarikatan Indonesia menjadi perusahaan asosiasi Bank sejak tahun 2006 dan sejak 2008 menjadi anak perusahaan Bank.

Kolektibilitas atas kredit kepada pihak yang mempunyai hubungan istimewa adalah lancar pada tanggal 31 Desember 2008, 2007, dan 2006.

PT Sistemmaju Mandiri Perkasa KSU BMT Surya Utama


Loans to related parties were classified as current as at December 31, 2008, 2007, and 2006.

39. KOMITMEN DAN KONTINJENSI

39. COMMITMENTS AND CONTINGENCIES

Bank memiliki komitmen dan kontinjensi sebagai berikut: 2008 Komitmen Tagihan komitmen Fasilitas pinjaman diterima yang belum digunakan

Related Parties

Kepengurusan manajemen yang sama/ Same management Kepengurusan manajemen yang sama/ Same management Kepengurusan manajemen yang sama/ Same management Sebagai pemegang saham Bank/ A shareholder of the Bank Hubungan kepemilikan sejak tahun 2006/Ownership since 2006

PT Kelola Jasa Artha

*)

38. TRANSACTIONS WITH RELATED PARTIES (continued)

The outstanding commitments and contingencies are as follows: 2007

2006 Commitments Commitment receivables

2

2

2

Unused fund borrowing fasilities

Kewaijban komitmen Fasilitas kredit dan pembiayaan/ piutang Syariah kepada nasabah yang belum digunakan L/C dan SKBDN yang masih berjalan dan tidak dapat dibatalkan

(13.250.672)

(5.196.675)

(4.349.206)

Unused loans and Sharia financing/ receivable facilities

(2.948.173)

(2.344.785)

(530.717)

Outstanding irrevocable L/C and SKBDN

Jumlah kewajiban komitmen

(16.198.845)

(7.541.460)

(4.879.923)

Total commitment payables

Komitmen - bersih

(16.198.843)

(7.541.458)

(4.879.921)

Commitments - net

Kontinjensi Tagihan kontinjensi Pendapatan bunga dalam penyelesaian

Commitment payables

74.515

Contingencies Contingent receivables Interest receivables on non-performing loans

(233.573) (4.239

(183.327) )

Contingent liabilities Bank guarantees issued )

(345.906)

(237.812)

(187.566)

(145.380)

(81.096)

(113.051)

Contingencies - net

(4.992.972)

Commitments and contingent liabilites - net

200.526

Kewajiban kontinjensi Bank garansi yang diterbitkan Endorsemen surat-surat berharga

(345.906) -

Jumlah kewajiban kontinjensi Kontinjensi - bersih Kewajiban komitmen dan kontinjensi - bersih

(16.344.223)

156.716

(7.622.554)

126

(4.239

Total contingent payables

Marketable securitie




127




40. MANAJEMEN RISIKO

40. RISK MANAGEMENT

Pelaksanaan fungsi manajemen risiko meliputi halhal terkait dengan upaya identifikasi, penilaian, pengukuran, evaluasi dan pengendalian risiko termasuk pengembangan teknologi dan sistem informasi manajemen di setiap jenis risiko, serta peningkatan kualitas sumber daya manusia dalam pengelolaan risiko.

Risk management function includes identification, assessment, evaluation and risk controls, development of technology and management information system in each risk and improvement of human resource quality in risk management.

Sebagai salah satu wujud pelaksanaan Good Corporate Governance dan pengawasan aktif Komisaris dan Direksi dalam pengendalian risiko, Bank membentuk beberapa Komite untuk menunjang proses pengendalian risiko. Beberapa Komite yang telah dibentuk antara lain Komite Manajemen Risiko dan Assets and Liabilities Management Committee yang merupakan komite untuk tingkat Direksi. Komite-komite tersebut didukung oleh Komite Pendukung Manajemen Risiko, Komite Produk dan Aktivitas Baru, serta Asset and Liability Committee (ALCO).

The Bank forms several committees to support the risk controls in relation to implementation of Good Corporate Governance and active monitoring from Commissioners and Directors in risk controls. These committees include: Risk Management Committee and Asset and Liabilities Management Committee which are committees at the directors level. These committees are supported by Risk Management Support Committee, New Product and Activities Committee and Asset and Liabilities Committee (ALCO).

Pada tingkat Dewan Komisaris, Komite Pemantau Risiko secara berkala mengadakan rapat pembahasan sesuai dengan tugas dan kewenangannya.

At the Commissioners level, Risk Monitoring Committee periodically conducts meeting to discuss matters in accordance with their role and responsibilities.

Profil Risiko

Risk Profile

Dalam upaya meningkatkan good corporate governance dan manajemen risiko pada industri perbankan, telah diterbitkan PBI No. 5/8/PBI/2003 tanggal 19 Mei 2003 tentang Penerapan Manajemen Risiko Bagi Bank Umum, yang mewajibkan Bank untuk menyampaikan laporan profil risiko triwulan sejak tahun 2005.

In order to develop good corporate governance and risk management of banking industry, PBI No. 5/8/PBI/2003 dated May 19, 2003 regarding Risk Management Implementation For General Banks is issued, which compulsory for Banks to submit quarterly risk profile report started year 2005.

Secara garis besar profil risiko mencerminkan tingkat risiko yang dihadapi Bank berdasarkan 8 (delapan) jenis risiko sesuai ketentuan Bank Indonesia. Dari hasil self assessment profil risiko triwulanan yang disampaikan kepada Bank Indonesia selama tahun 2008, predikat risiko Bank secara keseluruhan tetap berada pada tingkat risiko rendah.

Overall, the risk profile reflects the 8 (eight) risks based on Bank Indonesia Regulation. From the quarterly self assessment results submitted to Bank Indonesia on the risk profile during 2008, the Banks overall risk profile is at the low composite risk.

Risiko Kredit

Credit Risk

Risiko kredit adalah risiko yang terjadi akibat kegagalan pihak lawan (counterparty) dalam memenuhi kewajibannya. Risiko kredit yang dikelola Bank tidak hanya terkait pada penyaluran kredit pembiayaan tetapi juga eksposur risiko kredit Iainnya seperti penempatan, pembelian surat-surat berharga, dan penyertaan, yang dikelola secara komperehensif baik pada tingkat portofolio maupun transaksi.

Credit risk is the risk of counterparty failing to fulfil their obligation. The Bank’s credit risk is not only related to Ioans/financing activities but also to other credit risk exposure such as placements, purchase of marketable securities, and investments which are managed comprehensively at the portfolio and transaction levels.

128




40. MANAJEMEN RISIKO (lanjutan)

40. RISK MANAGEMENT (continued)

Risiko Kredit (lanjutan)

Credit Risk (continued)

Bank memiliki pedoman perkreditan yang mengatur kebijakan dan prosedur dalam pemberian kredit kepada nasabah koperasi, mikro, kecil, menengah, komersial, dan konsumer. Bank secara berkala melakukan pengkajian dan penyempurnaan atas pedoman tersebut dengan tetap didasarkan pada prinsip pengelolaan risiko yang independen, agar sesuai dengan peraturan Bank Indonesia dan peraturan eksternal lainnya serta kebijakan manajemen risiko yang terkait dengan pemberian kredit.

The Bank has credit guidance which regulates the policies and procedures in issuing credit to customers in cooperation, micro, small, medium, commercial, and consumer segments. The Bank periodically review and improve the guidance based on the independent risk management principles. This is performed to fulfill Bank Indonesia regulation, other external regulations, and other risk management policies related to credit.

Risiko yang terkait dengan pembiayaan kepada nasabah atau proyek yang akan dibiayai, dievaluasi dengan mempertimbangkan berbagai faktor, antara lain:

Risk related to financing to customers or projects are evaluated and considered using the following factors amongst others:

1.

Historis dan proyeksi kondisi keuangan, termasuk laba rugi, arus kas, dan neraca keuangan nasabah;

1.

Historical and projected financial condition, including profit and loss, cash flow, and balance sheets;

2.

Riwayat hubungan kredit pada bank lain berdasarkan checking pada Bank Indonesia:

2.

Credit history with other banks based on the checking with Bank Indonesia;

3.

Kualitas, kinerja, dan manajemen nasabah;

3.

Quality, performance, and experience of the customers’ management;

4.

Sektor industri nasabah;

4.

Industry sector;

5

Posisi nasabah dalam persaingan di industri sejenis;

5.

Customers’ position in the industry;

6.

Kondisi ekonomi secara umum.

6.

General economic condition.

pengalaman

dari

Proses persetujuan kredit dilakukan berdasarkan prinsip bahwa setiap kredit harus diproses melalui Komite Kredit. Komposisi dan jumlah anggota Komite Kredit akan berbeda sesuai dengan jumlah dan fasilitas kredit yang diajukan.

Credit Committee function must be used during the credit approval process. The composition and number of members of Credit Committee depend on the amount and facilities of the loans.

Dalam pelaksanaan pengelolaan risiko kredit, Bank telah menjalankan proses identifikasi, pengukuran, pemantauan, dan pengendalian risiko yang mencakup profil risiko kredit di cabang maupun kantor pusat. Pengelolaan seluruh aktivitas ini telah terintegrasi dalam suatu sistem dan proses manajemen risiko yang komprehensif.

In the credit risk management process, the Bank has identified measured, monitored, and controlled risks in branches and head office. The whole activities are integrated in the comprehensive system and risk management process.

Bank telah melakukan kerjasama dengan konsultan dalam mengembangkan sistem manajemen risiko untuk memenuhi persyaratan Bank Indonesia dan standar internasional seperti Basel II. Sistem manajemen risiko tersebut telah diimplementasikan pada berbagai aspek pengelolaan risiko kredit.

The Bank has entered into an agreement with consultant to develop the risk management system to fulfill the Bank Indonesia’s regulation and international standard such as Basel II. This risk management system has been implemented in various aspects of risk management.

129






Risiko Kredit (lanjutan)

Credit Risk (continued)

Sistem yang telah diimplementasikan antara lain model Internal Credit Risk Rating (ICRR) untuk usaha mikro, kecil, menengah, serta usaha komersial dan model scoring risiko kredit untuk bisnis konsumen. Bank secara berkelanjutan melakukan upaya yang diperlukan untuk menyempurnakan model tersebut.

The systems which have been implemented include Internal Credit Risk Rating (ICRR) for micro, small, medium, and commercial segments and a scoring model for consumer business. The Bank continuously evaluates and improve these models.

Bank secara berkelanjutan mengelola risiko kreditnya melalui penetapan dan evaluasi proses dan kebijakan kredit pengaturan dan evaluasi limit dan pelaporan secara berkala kepada Direksi dan Dewan Komisaris. Bank juga terus melakukan persiapan terkait rencana Bank Indonesia dalam implementasi Basel II.

The Bank also continuously manages credit risk through setting of credit process and policies credit limit evaluation and periodic reporting to the Board of Directors and Commissioners. The Bank also prepares in relation to Bank Indonesia’s plan to implement Basel II.

Risiko Pasar

Market risk

Risiko pasar adalah risiko yang timbul karena adanya pergerakan variabel pasar (adverse movement) dari portofolio yang dimiliki Bank yang dapat merugikan Bank. Variabel pasar dalam hal ini adalah suku bunga dan nilai tukar. Risiko nilai tukar mata uang asing dan risiko tingkat suku bunga dalam bank dapat disebabkan oleh posisi on balance sheet maupun off balance sheet yang tergolong dalam trading book atau banking book.

Market risk arises from the adverse movement of market variables in the Bank’s portfolio which has unfavourables impact to the Bank. Market variables includes interest rate and foreign exchange. lnteres rate and foreign exchange risks in a bank are caused by on and off balance sheet positions of the trading and banking books.

Pengelolaan risiko pasar dijalankan berdasarkan kebijakan dan prosedur yang berkaitan dengan produk, jasa, dan aktivitas treasury dan bisnis yang terekspos risiko tersebut. Pengendalian risiko nilai tukar mata uang asing dan risiko suku bunga Bank pada trading book antara lain dilakukan melalui analisis risiko dan limit untuk aktivitas trading yang meliputi transaksi Money Market, Foreign Exchange dan Fixed Income Securities (surat-surat berharga). Selain itu, dilakukan proses mark to market untuk posisi trading book, monitoring posisi devisa neto dan Value at Risk (VaR) atas posisi tersebut.

The overall market risk management is performed based on the policies and procedures related to the products, services, and activities in treasury and business division exposed to that risk. The management of foreign exchange and interest rate risks in trading book is performed through risk and limit analysis. The trading book activities include money market foreign exchange, and fixed income securities transactions. In addition to this, trading book position has been marked-to-market included in the net open position calculation and Value at Risk calculation (VaR).

Pengelolaan risiko suku bunga juga dilakukan pada eksposur banking book, antara lain dengan memperhatikan posisi gap aktiva dan kewajiban Bank yang sensitif terhadap pergerakan suku bunga dan kecenderungan pergerakan suku bunga acuan BI rate serta suku bunga pasar yang dapat mempengaruhi stabilitas tingkat profitabilitas Bank. Pengukuran risiko dilakukan dengan menggunakan Interest Rate Risk Model dengan metodologi repricing profile gap. Penilaian risiko nilai tukar mata uang asing dilakukan dengan memperhatikan Posisi Devisa Neto (PDN) dan volatilitas mata uang asing yang dikelola Bank dengan mengontrol mutasi transaksi valuta asing di seluruh kantor cabang dan unit bisnis.

The overall management is also performed on the banking book exposure, i.e. by monitoring the gap position of the Bank’s assets and liabilities which were sensitive to interest rate volatility, BI rate, and market rate trend that may impact to Bank’s profit stability. Risk valuation was done using Interest Rate Risk Model using repricing profile gap methodology. The implementation of foreign exchange risk valuation was done by monitoring Net Open Position and foreign exchange volatility maintained by the Bank. As an effort to mitigate high risk of foreign exchange in fourth quarter of 2008, net open position management should be done carefully through monitoring on foreign exchange transaction movement in all branches and business units.

130






Risiko Pasar (lanjutan)

Market risk (continued)

Dalam melakukan pengukuran risiko, Bank melakukan stress test dengan beberapa skenario, diantaranya skenario terburuk (worst case scenario). Hal ini ditujukan untuk mengetahui tingkat kemampuan Bank dalam menghadapi berbagai tingkat pergerakan hingga kondisi pasar yang tidak normal. Bank secara berkala melakukan back testing untuk validasi pada metodologi, formula, model, dan penggunaan asumsi pada setiap skenario dalam model pengukuran risiko.

In measuring risks, Bank has performed stress test based on several scenarios, among other is the worst case. This is intended to assess the Bank’s ability during various levels of market movement to abnormal market condition. The Bank periodically performs back testing to validate methodology, formula, model, and assumptions used on each scenario of risk measurement mode.

Risiko Likuiditas

Liquidity Risk

Risiko Iikuiditas adalah risiko yang antara lain disebabkan ketidakmampuan Bank memenuhi kewajiban yang telah jatuh waktu. Permasalahan likuiditas pada Bank dapat terjadi akibat adanya ketidakcocokan saat jatuh tempo (maturity mismatch) antara aset dan kewajiban.

Liquidity risk is the risk which is caused by the Bank’s inability to fulfill its obligation when they fall due. Liquidity problem in a bank is caused by maturity mismatch between assets and liabilities.

Untuk memastikan kemampuan Bank dalam memenuhi kewajibannya kepada nasabah/counterparty, Bank menerapkan kebijakan pengelolaan likuiditas melalui alokasi penempatan pada Cadangan Primer (Primary Reserve), Cadangan Sekunder (Secondary Reserve) dan Cadangan Tersier (Tertiary Reserve) berdasarkan kriteria dan limit tertentu. Selain itu, Bank telah memiliki kebijakan Contingency Funding Plan, yang berisi langkah yang harus dilakukan oleh Bank dalam mengantisipasi dan menghadapi kondisi kesulitan likuiditas. Bank melakukan pengukuran risiko likuiditas menggunakan Liquidity Risk Model dengan metodologi maturity gap. Monitoring kondisi likuiditas harian dilakukan oleh Unit Treasury dan perubahan eksternal serta makro ekonomi yang terjadi dengan segera diinformasikan dan diambil kebijakan internal antara lain melalui mekanisme Asset and Liability Committee (ALCO).

To ensure the Bank’s ability in fulfilling its obligation to customers/counterparties the Bank implement management policies through placement in Primary Reserve, Secondary Reserve, and Tertiary Reseve based on certain criteria and limit. The Bank also has a Contingency Funding Plan which contains procedures which must be done in anticipating and facing liquidity shortfall. The Bank measures liquidity risk using the Liquidity Risk Model with maturity gap methodology. Daily liquidity condition is monitored by Treasury unit and external and macro economic changes are immediately informed and internal policies are taken through, among other, Asset and Liability Committee (ALCO) mechanism.

Risiko Operasional

Operational risk

Risiko operasional adalah risiko kerugian yang timbul dari tidak memadainya atau kegagalan atas kebijakan internal, strategi, proses, manusia, dan sistem atau diakibatkan oleh kejadian eksternal.

Operational risk is the risk of loss resulting from inadequate or failure in internal processes, people and systems or from external problems.

131






Risiko Operasional (lanjutan)

Operational risk (continued)

Di dalam mengelola risiko operasional, risk owner bertanggung jawab atas risiko yang terjadi pada unitnya masing-masing. Adapun tata cara pengendalian risiko tersebut diatur dalam kebijakan Bank secara menyeluruh dan kebijakan dan prosedur pada setiap unit.

ln managing operational risk, the risk owner is responsible for the risk occur in the respective units. The risk management is regulated in the Bank’s overall policies and procedures in each unit.

Metode dan kebijakan didalam pengendalian risiko operasional dilaksanakan diantaranya melalui:

The methods and policies in the operational risk management is performed through the following:

1.

Pengkajian terhadap kebijakan, pedoman, dan prosedur pengendalian internal sesuai dengan kondisi perkembangan dunia perbankan, kebijakan pemerintah, dan limitasi operasional yang telah ditetapkan.

1.

Evaluation of policies, guidance, and internal procedures in accordance with the banking industry development, government policies, and pre-determined operational limitation.

2.

Pengkajian terhadap produk dan aktivitas baru.

2.

Evaluation of new products and activities.

3.

Pengkajian dan penerapan Disaster Recovery Plan sebagai langkah antisipatif atas kejadian internal maupun eksternal yang berpotensi menimbulkan kerugian.

3.

Evaluation and implementation of Disaster Recovery Plan as the anticipated procedures during internal and external loss potential events.

4. Tindakan korektif terhadap hasil temuan audit.

4.

Take corrective action from the audit results.

5.

Identifikasi serta pengukuran risiko operasional juga dilakukan melalui perhitungan risiko berdasarkan Accounting Loss Data.

5.

Identification and measuring of operational risk through risk calculation based on Accounting Loss Data.

6.

Pengkajian dan penerapan Business Contingency Plan dalam pengelolaan dan pengendalian aktivitas Bank.

6.

Review the implementation of Business Contingency Plan in the management and control of the Bank’s activities.

Manajemen risiko mengembangkan:

operasional

telah

The operational risk management has developed:

1. Modul Self Assessment manajemen risiko

1.

Self assessment web-based module in operational risk management which is used to identify, measure, and monitor risk in each working unit.

operasional berbasis web yang digunakan untuk mengidentifikasi, mengukur, dan memonitor risiko pada setiap unit kerja. 2.

Modul Loss Event Data berbasis web yang digunakan untuk analisis historical loss data.

2.

Loss Event Data web-based module which is used to analyse the historical loss data

3.

Pembuatan Action Plan untuk mitigasi risiko yang berpotensi terjadi ataupun telah terjadi.

3.

Action plan to mitigate the risk which will potentially occur or has occurred.

132






Risiko Hukum

Legal Risk

Risiko hukum adalah risiko yang disebabkan oleh adanya kelemahan aspek hukum, yang antara lain disebabkan adanya tuntutan hukum, ketiadaan peraturan perundang-undangan yang mendukung, atau kelemahan perikatan seperti tidak dipenuhinya syarat sahnya kontrak dan pengikatan agunan yang tidak sempurna.

Legal risk is risk due to laxity of legal aspect, e.g. due to law litigation, absence of regulation, laxity of legal binding such as criteria for valid contract is not fulfilled, and legal binding for collateralis not complete.

Identifikasi risiko hukum dilakukan pada seluruh aktivitas fungsional yang melekat pada perkreditan (penyediaan dana), treasury dan investasi, operasional dan jasa, trade finance services, sistem informasi teknologi dan Management Information System (MIS), serta pengelolaan sumber daya manusia.

Legal risk identification was done in all function activities that were inherent to loan, treasury and investment, operational and services, trade finance services, information system technology and management information system, and human resources management.

Identifikasi risiko hukum dilakukan secara berkala sesuai dengan pengalaman kerugian di masa lalu yang disebabkan oleh risiko hukum.

Legal risk identification was done periodically based on past experience of legal losses.

Risiko Reputasi

Reputation Risk

Risiko reputasi adalah risiko yang antara lain disebabkan oleh adanya publikasi negatif yang terkait dengan kegiatan usaha Bank atau persepsi negatif terhadap Bank.

Reputation risk is due to negative publication related to the Bank’s activity or negative perception to the Bank.

Identifikasi risiko reputasi dilakukan secara berkala sesuai dengan pengalaman kerugian di masa lalu yang disebabkan oleh risiko reputasi.

Reputation risk identification was done periodically based on past experience of reputational losses

Penilaian risiko reputasi dilakukan secara kualitatif antara lain bersumber dari pemberitaan negatif yang muncul dari masyarakat/nasabah dan keluhan nasabah.

Reputation risk valuation is done among others from negative public/customer publication and customer complaint.

Untuk memastikan pengendalian risiko reputasi, Bank telah melakukan langkah antisipasi antara lain:

The Bank has anticipate reputation risk by: • Forming Unit Kerja Pelayanan to ensure customer servicing quality. • Using Complaint Tracking System to monitor customer complaint settlement. • Implementation of Service Level Agreement in all business unit to ensure time standard. • Cooperate with independent party to survey Bank’s service compared to competitor. • Periodically, train the employees to improve the service quality.

• • • • •

Pembentukan Unit Kerja Pelayanan untuk memastikan peningkatan kualitas pelayanan kepada nasabah. Penggunaan Complaint Tracking System untuk mengawasi penyelesaian komplain nasabah. Penerapan Service Level Agreement (SLA) di tiap unit kerja untuk memastikan standar waktu. Bekerja sama dengan pihak independen melakukan survey pelayanan Bank dibandingkan dengan pesaing. Secara berkelanjutan melaksanakan pelatihan karyawan untuk dapat meningkatkan kualitas pelayanan.

133






Risiko Kepatuhan

Compliance Risk

Risiko kepatuhan adalah risiko yang terjadi karena Bank tidak mematuhi atau tidak melaksanakan ketentuan internal dan peraturan perundangundangan. Pada prakteknya risiko kepatuhan melekat pada risiko Bank yang terkait pada peraturan perundang-undangan, ketentuan kehati-hatian dan ketentuan lain yang berlaku, seperti : • Risiko kredit terkait dengan ketentuan Kewajiban Pemenuhan Modal Minimum (KPMM), Kualitas Aktiva, Pembentukan Penyisihan Aktiva (PPA), dan Batas Maksimum Pemberian Kredit (BMPK). • Risiko pasar terkait dengan ketentuan Posisi Devisa Neto (PDN). • Risiko strategik terkait dengan ketentuan Rencana Bisnis Bank (RBB). • Risiko lain yang terkait dengan ketentuan eksternal dan internal.

Compliance risk is due to the Bank is incomplied to the internal policy and regulation. In practice, compliance risk inherent to Bank’s risk related to regulation, e.g. : • Credit risk related to Capital Adequacy Ratio, Asset Quality, Allowance for Possible Losses, and Legal Lending Limit. • Market risk related to Net Open Position. • Strategic risk related to Bank’s Business Plan. • Other risk related to external and internal regulation.

Risiko Strategik

Strategic Risk

Risiko strategik adalah risiko yang antara lain disebabkan adanya penetapan dan pelaksanaan strategi Bank dan pengambilan keputusan bisnis yang tidak tepat atau kurang responsifnya Bank terhadap perubahan eksternal.

Strategic risk derives from determination and implementation of the Bank’s strategy and inaccurate business decision making or the Bank’s irresponsiveness to the external changes.

Identifikasi risiko strategik dilakukan secara berkala sesuai dengan pengalaman kerugian di masa lalu yang disebabkan oleh risiko strategik.

Strategic risk identification done periodically based on past experince of strategic risk.

Pengendalian risiko strategik diantaranya dilakukan melalui monitoring pencapaian rencana bisnis secara periodik dan dilanjutkan dengan mitigasi atas faktor penyebab kegagalan.

Strategic risk control done through monitoring in busniess plan realization periodically and followed with failure risk mitigation.

134




41. ANALISIS JATUH TEMPO AKTIVA DAN KEWAJIBAN BERDASARKAN PERIODE YANG TERSISA

41. MATURITY PROFILE BASED ON REMAINING PERIOD TO MATURITY

2008

Jumlah/ Total Aktiva Kas Giro pada BI Giro pada bank lain-bruto Penempatan pada Bank Indonesia dan bank lain-bruto Surat-surat berharga-bruto Surat-surat berharga yang dibeli dengan janji dijual kembali-bruto Tagihan derivatif-bruto Kredit yang diberikan dan pembiayaan/ piutang syariah-bruto Tagihan akseptasi-bruto Penyertaan-bruto Goodwill Aset tetap Aktiva pajak tangguhan Aktiva lain-lain-bersih Total Penyisihan kerugian dan bunga yang belum direalisasi

≤ 1 bulan/ months

> 1 bulan/ month - 3 bulan/months

> 1 tahun/ year - 5 tahun/ years

> 3 bulan/ months - 1 tahun/year

Tidak memiliki jatuh tempo/ without maturities

>5 tahun/years

683.155 1.199.882

683.155 1.199.882

-

-

-

-

-

772.106

772.106

-

-

-

-

-

1.581.692

1.499.942

81.750

-

-

-

-

4.523.236

3.410.398

3.900

110.072

793.950

204.916

-

110.980 13.293

84.166 12.211

26.814 1.082

-

-

-

-

23.042.022

2.325.362

972.008

8.569.547

7.909.699

3.265.406

-

134.870 951 295.711 407.528 75.046 506.543

2.207 160.611

21.800 -

110.863 -

-

295.711 -

951 407.528 75.046 345.932

33.347.015

10.150.040

1.107.354

8.790.482

8.703.649

3.766.033

829.457

Assets Cash Current account with BIt Current account with other banks-gross Placement with Bank Indonesia and other bank-gross Marketable securities-gross Marketable securities purchased with agreement to resell-gross Derivative receivables-gross Loans and sharia financing/ receivables-gross Acceptance receivables-gross Investments-gross Goodwill Fixed assets Deferred tax assets Other assets-net Total assets Allowance for losses and unearmed interest

(713.952 ) 32.633.063

Kewajiban segera Simpanan nasabah Simpanan dari bank lain Hutang pajak Kewajiban derivatif Kewajiban akseptasi Pinjaman yang diterima Estimasi kerugian komitmen dan kontinjensi Kewajiban lain-lain

Kewajiban 178.157 27.521.206 1.126.641 103.526 2.233 134.870 922.566

178.157 23.031.993 1.097.141 103.526 2.207 -

2.451.320 18.750 2.233 21.800 -

2.037.893 6.350 110.863 58.294

4.400 754.913

109.359

-

28.479 447.415

216.994

-

-

-

-

28.479 230.421

Liabilities Liabilities immediately payables Deposits from customers Deposits from other banks Taxes payable Derivative payables Acceptance payables Borrowings Estimated losses on commitments and contingencies Other liabilities

Jumlah kewajiban

30.465.093

24.630.018

2.494.103

2.213.400

759.313

109.359

258.900

Total liabilities

Perbedaan jatuh tempo

2.881.922

(14.479.978)

(1.386.749 )

6.577.082

7.944.336

3.656.674

570.557

Maturity gap

Aset (kewajiban) bersih

2.167.970

Net assets (liabilities)

135




41. ANALISIS JATUH TEMPO AKTIVA DAN KEWAJIBAN BERDASARKAN PERIODE YANG TERSISA (lanjutan)

41. MATURITY PROFILE BASED ON REMAINING PERIOD TO MATURITY (continued) 2007

Jumlah/ Total Aktiva Kas Giro pada BI Giro pada bank lain-bruto Penempatan pada Bank Indonesia dan bank lain-bruto Surat-surat berharga-bruto Surat-surat berharga yang dibeli dengan janji dijual kembali-bruto


≤ 1 bulan/ months




>5 tahun/years

421.803 3.687.390

421.803 3.687.390

-

-

-

-

-

74.469

74.469

-

-

-

-

-

3.794.864

3.794.864

-

-

-

-

-

6.720.772

5.966.046

-

56.970

476.915

220.841

-

33.042

33.042

-

-

-

-

-

Tagihan derivatif-bruto Kredit yang diberikan dan pembiayaan/ piutang syariah-bruto

1.116

1.116

-

-

-

-

-

19.147.918

467.216

1.424.452

8.661.270

6.165.368

2.429.612

-

Tagihan akseptasi-bruto Penyertaan-bruto Aset tetap Aktiva pajak tangguhan Aktiva lain-lain-bersih

77.830 36.640 321.991 18.873 501.257

1.038 53.163

21.035 -

55.757 -

-

-

36.640 321.991 18.873 448.094

34.837.965

14.500.147

1.445.487

8.773.997

6.642.283

2.650.453

825.598

Jumlah Penyisihan kerugian dan bunga yang belum direalisasi

Assets Cash Current account with BI Current account with other banks-gross Placement with Bank Indonesia and other bank-gross Marketable securities-gross Marketable securities purchased with agreement to resell-gross Derivative receivables-gross Loans and sharia financing/ receivables-gross Acceptance receivables-gross Investments-gross Fixed assets Deferred tax assets Other assets-net Total assets Allowance for losses and unearned interest

(391.788 ) 34.446.177

Kewajiban segera Simpanan nasabah Simpanan dari bank lain Hutang pajak Kewajiban derivative Kewajiban akseptasi Surat-surat berharga yang diterbitkan Pinjaman yang diterima Estimasi kerugian komitmen dan kontinjensi Kewaijban lain-lain

Kewajiban 208.481 29.291.878 860.602 58.684 699 77.830

208.481 24.361.372 524.316 58.684 699 1.038

2.758.004 26.766 21.035

2.172.502 309.520 55.757

-

-

-

575.000 895.788

-

34.867

339.000 38.630

707.067

236.000 115.224

-

28.233 479.258

80.498

-

-

-

-

28.233 398.760

Liabilities Liabilities immediately payables Deposits from customers Deposits from other banks Taxes payable Derivative payables Acceptance payables Marketable securities issued Borrowings Estimated losses on commitments and contingencies Other liabilities

Jumlah kewajiban

32.476.453

25.235.088

2.840.672

2.915.409

707.067

351.224

426.993

Total liabilities


2.361.512

(10.734.941 )

(1.395.185 )

5.858.588

5.935.216

2.299.229

398.605

Maturity gap


1.969.724

Net assets (liabilities)

136





41. MATURITY PROFILE BASED ON REMAINING PERIOD TO MATURITY (continued) 2006

Jumlah/ Total Aktiva Kas Giro pada BI Giro pada bank lain-bruto Penempatan pada Bank Indonesia dan bank lain-bruto Surat-surat berharga-bruto Surat-surat berharga yang dibeli dengan janji dijual kembali-bruto

≤ 1 bulan/ months





>5 tahun/years

275.562 2.422.298

275.562 2.422.298

-

-

-

-

-

53.672

53.672

-

-

-

-

-

3.146.769

3.013.409

-

133.360

-

-

-

10.501.017

10.161.597

4.811

4.000

165.411

165.198

-

25.957

25.957

-

-

-

-

-

Tagihan derivatif-bruto Kredit yang diberikan dan pembiayaan/ piutang syariah-bruto

1.944

1.944

-

-

-

-

-

14.682.987

602.538

511.112

7.346.449

4.645.601

1.677.287

-

Tagihan akseptasi-bruto Penyertaan-bruto Aset tetap Aktiva Pajak tangguhan Aktiva lain-lain

65.561 40.388 268.882 10.155 366.932

6.133 40.388 42.476

46.549 -

12.879 -

-

-

268.882 10.155 324.456

31.862.124

16.645.974

562.472

7.496.688

4.711.012

1.842.485

603.493

Jumlah Aktiva Penyisihan kerugian dan bunga yang belum belum direalisasi

Assets Cash Current account with BI Current account with other banks-gross Placement with Bank Indonesia and other bank-gross Marketable securities-gross Marketable securities purchased with aggrement to resell-gross Derivative receivables-gross Loans and sharia financing/ receivables-gross Acceptance receivables-gross Investments-gross Fixed assets Deferred tax assets Other assets Total assets Allowance for losses and unearned interest

(305.981 ) 31.556.143

Kewajiban segera Simpanan nasabah Simpanan dari bank lain Hutang pajak Surat-surat berharga yang dijual dengan janji dibeli kembali Kewajiban derivatif Kewajiban akseptasi Surat-surat berharga yang diterbitkan Pinjaman yang diterima Estimasi kerugian komitmen dan kontinjensi Kewaijban lain-lain

1.589.403 24.885.036 914.290 86.173

1.589.403 19.465.917 675.503 86.173

2.228.459 10.444 -

3.190.660 228.343 -

-

-

-

494.650 260 65.561

494.650 260 6.133

46.549

12.879

-

-

-

585.000 851.991

29.340

-

1.946

349.000 579.509

236.000 241.196

-

27.109 383.871

80.908

-

-

-

-

27.109 302.963

Liabilities Liabilities immediately payables Deposits from customers Deposits from other banks Taxes payable Maturities securities sold with agreements to repurchase Derivative payables Acceptance payables Marketable securities issued Fund borrowings Estimated losses on commitments and contingencies Other liabilities

Jumlah kewajiban

29.883.344

22.428.287

Kewajiban


1.978.780


1.672.179

(5.782.313 )

2.285.452

3.433.828

928.509

477.196

330.072

Total liabilities

(1.722.980 )

4.062.860

3.782.503

1.365.289

273.421

Maturity gap Net assets (liabilities)

137





41. MATURITY PROFILE BASED ON REMAINING PERIOD TO MATURITY (continued)

Bank telah mengambil langkan-Iangkah untuk mengatasi perbedaan jatuh tempo (gap) antara lain dengan cara menggeser simpanan jangka pendek menjadi simpanan jangka panjang dengan rnembuat yield curve positif terhadap pricing deposito dan disamping itu melakukan cara persuasif kepada funding officer di jajaran operasional yang dimiliki sampai batas optimal (diperpendek/diperpanjang).

The Bank undertakes actions to overcome the maturity gap, amongst others by trying to shift short-term deposits long-term deposits with positive yield curve against deposit pricing. It also undertakes a persuasive approach to the funding officers in the operational divisions that has maximum authority limit (to shorten/extend).

42. RASIO KEWAJIBAN MINIMUM

PENYEDIAAN

MODAL

42. CAPITAL ADEQUACY RATIO

Rasio Kewajiban Penyediaan Modal Minimum (KPMM) adalah rasio modal terhadap Aktiva Tertimbang Menurut Risiko (ATMR). Berdasarkan Peraturan Bl No. 3/21/PBI/2001 tanggal 13 Desember 2001 jumlah modal untuk risiko kredit terdiri dari modal inti dan modal pelengkap dikurangi penyertaan saham.

Capital Adequacy Ratio (CAR) is the ratio of capital to Risk Weighted Assets (RWA). Based on BI Regulation No. 3/21/PBI/2001 dated December 13, 2001. Total capital for credit risk consists of core capital and supplementary capital net of investments in shares of stock.

Berdasarkan Peraturan Bl No. 5/12/PBI/2003 tanggal 17 Juli 2003, bank dengan kriteria tertentu harus memasukkan risiko pasar dalam perhitungan risiko pasar dalam perhitungan risiko KPMM dengan memasukkan komponen modal pelengkap tambahan.

Based on BI Regulation No. 5/I2/PBI/2003 dated July 7, 2003, banks which meet certain criteria should consider market risk in the computation of CAR and include additional supplementary capital.

Perhitungan KPMM pada tanggal 31 Desember 2008, 2007 dan 2006 adalah sebagai berikut:

The CAR calculations as at December 31, 2008, 2007, and 2006 are as follows:

2008 Modal inti Modal disetor Cadangan tambahan modal Cadangan umum dan tujuan*) Cadangan opsi saham Laba tahun lalu*) Laba tahun berjalan setelah diperhitungkan pajak (50%)*) Tambahan modal disetor agio saham Hak minoritas Goodwill***) Jumlah modal inti

(a)

2007

2006

782.633

782.479

773.756

746.265 28.206 -

577.575 11.781 (10.031)

388.445 5.892 6.776

171.836

183.252

149.205

218.410 4.803 (295.711)

217.832

1.656.442

138

Current profit after tax (50%)*)

184.694 -

1.762.888

Core capital Issued and fully paid-up capital Reserve for additional capital General and appropriated reserves*) Stock option reserve Prior years profit*)

1.508.768

Additional paid-in capital Minority Interest Goodwill***) Total core capital




42. RASIO KEWAJIBAN MINIMUM (lanjutan)

PENYEDIAAN

MODAL

2008 Modal pelengkap (maksimum 100% dari modal inti) Cadangan umum penyisihan penghapusan aktiva produktif (maksimum 1,25% dari ATMR) Obligasi subordinasi (maksimum 50% dari modal inti)**)

42. CAPITAL ADEQUACY RATIO (continued) 2007

2006

-

47.200

94.400

Supplementary capital (maximum of 100% of core capital) General reserve on allowance for losses on earning assets (maximum at 1.25% of RWA) Subordinated bonds (maximum at 50% of core capital)**)

Jumlah modal pelengkap

(b)

226.973

235.398

226.001

Total supplementary capital

Dikurangi: Penyertaan

(c)

(951)

(56.500)

(59.901)

Jumlah modal untuk risiko kredit (d)=(a)+(b)+(c) Modal pelengkap tambahan (e)

1.882.464 -

1.941.786 -

1.674.868 -

Total capital for credit risk Total supplementary capital

Jumlah modal untuk risiko kredit dan risiko pasar (f)=(d)+(e)

1.882.464

1.941.786

1.674.868

Total capital for credit and market risks

ATMR untuk risiko kredit setelah memperhitungkan risiko spesifik ATMR untuk risiko pasar

226.973

188.198

131.601

Less: Investments

(g) (h)

18.157.804 16.079

15.039.559 88.567

10.512.492 95.862

RWA for credit risk after considering specific risk RWA for market risk

Jumlah ATMR untuk risiko kredit dan pasar (i)=(g)+(h)

18.173.883

15.128.126

10.608.354

Total RWA for credit and market risk

KPMM dengan memperhitungkan risiko kredit dan pasar (d)/(g)

10.37%

12,91%

15,93%

CAR with credit risk

KPMM dengan memperhitungkan risiko kredit dan pasar (f)/(i)

10.36%

12,84%

15,79%

CAR with credit and market risk

8.00%

8,00%

8,00%

Minimum CAR

KPMM minimum

*) Disajikan dengan tidak memperhitungkan dampak aktiva pajak tangguhan sesuai dengan peraturan BI No. 3/21/PBI/2001 tanggal 13 Desember 2001.

*)

Excluding deferred tax assets according to BI Regulation No. 3/21/PBI/2001 dated 13 December 2001.

**) Disajikan setelah dikurangi amortisasi atas Obligasi Subordinasi Seri B Bank Bukopin Tahun 2003 yang dihitung dengan menggunakan metode garis lurus selama jangka waktu obligasi subordinasi tersebut.

**)

Excluding amortization of Subordinated Series B Bank Bukopin 2003 Bonds which is calculated using the straight-line method during the period of those bonds.

***) Disajikan dengan memperhitungkan Goodwill sebagai pengurang modal inti sesuai dengan peraturan BI No. 3/21/PBI/2001 tanggal 13 Desember 2001.

***)

Goodwill as deduction of core capital according to BI Regulation No. 3/21/PBI/2001 dated 13 December 2001.

43. POSISI DEVISA NETO

43. NET OPEN POSITION

Perhitungan Posisi Devisa Neto per tanggal 31 Desember 2008, 2007, dan 2006 masing-masing berdasarkan pada Peraturan Bank Indonesia No. 7/37/PBI/2005 tanggal 30 September 2005 dan No. 6/20/PBI/2004 tanggal 15 Juli 2004. Berdasarkan peraturan-peraturan tersebut, bank disyaratkan untuk menjaga posisi devisa neto neraca dan secara keseluruhan maksimum 20% dari jumlah modal. Rasio posisi devisa neto untuk neraca adalah selisih bersih total aktiva dan total kewajiban dalam setiap mata uang asing yang semuanya dinyatakan dalam Rupiah.

The Net Open Position calculations as of December 31, 2008, 2007, and 2006 are based on Bank Indonesia’s Regulation No. 7/37/PBI/2005 dated September 30, 2005 and No. 6/20/PBI/2004 dated July 15, 2004, respectively. Based on such regulations, banks are required to maintain overall and balance sheet net open positions of a maximum of 20% of the total capital. The balance sheet net open position ratio is the net difference between the assets and liabilities denominated in each foreign currency which are stated in Rupiah. The overall net open position is the sum of the

139




43. POSISI DEVISA NETO (lanjutan)

43. NET OPEN POSITION (continued)

Sedangkan rasio posisi devisa neto secara keseluruhan adalah penjumlahan nilai absolut dari selisih bersih antara aktiva dan kewajiban dalam mata uang asing dan selisih bersih dari tagihan dan kewajiban komitmen dan kontinjensi, yang dicatat dalam akun administratif yang didenominasi dalam setiap mata uang asing, yang dinyatakan dalam Rupiah.

absolute values of the net difference between the assets and liabilities denominated in each foreign currency and the net difference of the receivables and payables of both commitments and contingencies recorded in the administrative accounts denominated in each foreign currency, which are stated in Rupiah.

31 Desember 2008/ December 31, 2008

Mata uang NERACA Dolar Amerika Serikat Euro Dolar Singapura Dolar Australia Yen Jepang Pound Sterling Inggris Lain-lain

Aktiva/ Assets

Kewajiban/ Liabilities

4.105.966 8.569 65.041 15.437 73.419 317 616

3.731.861 2.788 64.564 15.521 67.847 45 -

4.269.365

3.882.626

Jumlah Modal *) Rasio Posisi Devisa Neto (Neraca)


374.105 5.781 477 (84) 5.572 272 616

BALANCE SHEET United States Dollar Euro Singapore Dollar Australian Dollar Japanese Yen Great Britain Pound Sterling Others

386.739 1.882.464

Total Capital *)

20,54%

Net Open Position Ratio (On-Balance Sheet)

KESELURUHAN NERACA DAN REKENING ADMINISTRATIF Dolar Amerika Serikat Euro Dolar Singapura Dolar Australia Yen Jepang Pound Sterling Inggris Lain-lain

Currency

OVERALL BALANCE SHEET AND OFF-BALANCE SHEET 4.233.543 8.569 65.041 15.437 73.419 317 616

4.222.656 7.395 64.564 15.521 72.070 45 -

10.887 1.174 477 84 1.349 272 616

4.396.942

4.382.251

14.859

Jumlah Modal *) Rasio Posisi Devisa Neto (Keseluruhan)

140

United States Dollar Euro Singapore Dollar Australian Dollar Japanese Yen Great Britain Pound Sterling Others

1.882.464

Total Capital *)

0,79%

Net Open Position Ratio (Overall)





43. NET OPEN POSITION (continued) 31 Desember 2007/ December 31, 2007

Mata uang

Aktiva/ Assets



NERACA Dolar Amerika Serikat Euro Dolar Singapura Dolar Australia Yen Jepang Pound Sterling Inggris Lain-lain

BALANCE SHEET 5.062.912 3.557 37.897 863 9.378 1.939 833

5.075.050 1.886 38.162 8.458 -

(12.138) 1.671 (265) 863 920 1.939 833

5.117.379

5.123.556

(6.177)

Jumlah Modal *) Rasio Posisi Devisa Neto (Neraca)


1.941.786

Total Capital *)

0,32%


KESELURUHAN NERACA DAN REKENING ADMINISTRATIF Dolar Amerika Serikat Euro Dolar Singapura Dolar Australia Yen Jepang Pound Sterling Inggris Lain-lain

Currency

OVERALL BALANCE SHEET AND OFF-BALANCE SHEET 5.457.724 3.557 38.550 1.111 9.378 1.939 833

5.456.361 3.268 38.162 827 8.458 -

1.363 289 388 284 920 1.939 833

5.513.092

5.507.076

6.016

Jumlah Modal *) Rasio Posisi Devisa Neto (Keseluruhan)

141


1.941.786

Total Capital *)

0,31%






43. NET OPEN POSITION (continued) 31 Desember 2006/ December 31, 2006

Mata uang

Aktiva/ Assets



NERACA Dolar Amerika Serikat Euro Dolar Singapura Dolar Australia Yen Jepang Pound Sterling Inggris Lain-lain

BALANCE SHEET 3.045.935 8.680 32.573 501 107.598 460 131

2.873.169 8.921 33.746 -

3.195.878

2.915.836

Jumlah Modal *)

172.766 (241) (1.173) 501 107.598 460 131


280.042 1.674.868

Total Capital *)

16.72%


Rasio Posisi Devisa Neto (Neraca) KESELURUHAN NERACA DAN REKENING ADMINISTRATIF Dolar Amerika Serikat Euro Dolar Singapura Dolar Australia Yen Jepang Pound Sterling Inggris Lain-lain

Currency

OVERALL BALANCE SHEET AND OFF-BALANCE SHEET 3.154.490 8.680 32.573 501 107.598 460 131

3.146.861 8.921 33.746 107.394 -

3.304.433

3.296.922

Jumlah Modal *)

7.629 241 1.173 501 204 460 131


10.339 1.674.868

Total Capital *)

0,62%


Rasio Posisi Devisa Neto (Keseluruhan) *)

Modal dihitung berdasarkan Kewajiban Penyediaan Modal Minimum Bank sesuai dengan Lampiran 5a Surat Edaran Bank Indonesia No. 7/10/DPNP tanggal 31 Maret 2005 tentang “Laporan Tahunan, Laporan Keuangan Publikasi Triwulan dan Bulanan dan Laporan Tertentu dari Bank yang disampaikan kepada Bank Indonesia”.

*)

Capital is calculated based on the Circular Letter from Bank Indonesia No. 7/10/DPNP (Appendix 5a) dated March 31, 2005, regarding “Yearly, Quarterly and Monthly Published Financial Statements for Public Banks and Certain Reports Submitted to Bank Indonesia”.

**)

Merupakan penjumlahan absolut dari selisih antara aktiva dan kewajiban beberapa mata uang asing lainnya.

**)

Sum of the absolute values of difference between assets and liabilities in some other foreign currencies.

142




44. PERJANJIAN-PERJANJIAN SIGNIFIKAN

44. SIGNIFICANT AGREEMENTS

Bank menandatangani beberapa perjanjian penting seperti yang tersebut dibawah ini:

The Bank entered agreements as follows:

a.

Perjanjian kerjasama dalam rangka Pendanaan Kredit Pengembangan Energi Nabati dan Revitalisasi Perkebunan (KPEN-RP) dengan Pemerintah Republik Indonesia pada tanggal 20 Desember 2006. Melalui perjanjian ini, Bank ditunjuk sebagai bank pelaksana penyaluran kredit KPEN-RP kepada petani peserta baik secara langsung maupun melalui mitra usaha. Dana yang disediakan Pemerintah Republik Indonesia adalah minimum sebesar Rp1.000.000.000.000 (nilai penuh). Perjanjian tersebut akan berakhir pada tahun 2014.

a

Agreement dated December 20, 2006 with the Government of the Republic of Indonesia in connection with “Funding of Loan on Development of Plants Energy and Revitalization of Plantations” (KPEN-RP). Through this agreement the Bank was appointed as executing bank to distribute KPEN-RP loans to farmers directly or through business counterpart. Minimum funding from the Government of the Republic of Indonesia is Rp1,000,000,000,000 (full amount). This ageement will be expired in 2014.

b.

Perjanjian Pelaksanaan “Skim Pelayanan Pembiayaan Pertanian (SP-3)” untuk Kredit Usaha Mikro dan Kecil di sektor pertanian dengan Departemen Pertanian Republik Indonesia pada tanggal 23 Agustus 2006. Perjanjian ini bertujuan untuk memberikan kemudahan akses bagi petani atau kelompok tani serta gabungan kelompok tani yang berusaha dibidang pertanian dan membutuhkan skema kredit SP-3. Penempatan dana SP-3 di Bank berasal dari APBN Departemen Pertanian sebesar Rp40.000.000.000 (nilai penuh). Berdasarkan surat keputusan Menteri Pertanian No. 652/KPTS/KU.430/5/2008 tanggal 26 Mei 2008, Bank diharuskan untuk mengalihkan dana sebesar Rp15.000.000.000 (nilai penuh) kepada PT Bank Pembangunan Daerah Nusa Tenggara Barat. Perjanjian SP-3 telah berakhir pada tanggal 31 Desember 2008 dan tidak diperpanjang.

b.

Agreement dated August 23, 2006 with the Department of Agriculture of the Republic of lndonesia in connection with the implementation of “Skim Pelayanan Pembiayaan Pertanian (SP-3)” for distribution to micro and small businesses in the agricultural sector. This agreement aims to provide convenience access for farmer or group of farmers or alliance of groups of farmers in the agricultural sector and require loans with SP-3 scheme. Placement of SP-3 fund in the Bank received from APBN of the Department of Agriculture amounted to Rp40,000,000,000 (full amount). Based on decision letter of Minister of Agriculture No. 652/KPTS/KU.430/5/2008 dated May 26, 2008, the Bank has to transfer the SP-3 fund to PT Bank Pembangunan Daerah Nusa Tenggara Barat amounting to Rp15,000,000,000 (full amount). This agreement has expired on December 31, 2008 and it was not being extended.

c.

Perjanjian Pemanfaatan dan Pemberian Jasa Perbankan pada tanggal 31 Mei 2006 dengan PT Jaminan Sosial Tenaga Kerja (Jamsostek). Dalam perjanjian ini Bank melaksanakan penerimaan iuran, penerimaan lain-lain, dan pembayaran jaminan peserta Program Jamsostek serta pembayaran biaya usaha dan belanja modal Jamsostek di seluruh kantor cabang dan kantor wilayah Jamsostek Perjanjian tersebut telah berakhir pada tanggal 30 April 2007.

c.

Agreement dated May 31, 2006 with PT Jaminan Sosial Tenaga Kerja (Jamsostek) regarding the utilization and provision of banking services. In this agreement the Bank provides services for receiving of contribution, other collection, and payment of benefits to participants of Jamsostek programs, and also payment of cost of operational and capital expenditure of Jamsostek in all branches and regional offices of Jamsostek. This agreement expired on April 30, 2007.

143

into

certain

significant




44. PERJANJIAN-PERJANJIAN (lanjutan)

SIGNIFIKAN

44. SIGNIFICANT AGREEMENTS (continued)

Perjanjian tersebut telah diperpanjang dengan perjanjian pada tanggal 16 Agustus 2007. Perjanjian tersebut berlaku efektif pada tanggal 1 Mei 2007 dan berakhir pada tanggal 30 April 2008.

This agreement has been extended with the agreement on August 16, 2007 and effective on May 1, 2007 and expired on April 30, 2008.

d.

Perjanjian kerjasama dalam rangka penjaminan penerbitan Bank Garansi dengan PT Asuransi Kredit Indonesia pada tanggal 10 Agustus 2007. Melalui perjanjian ini Bank menunjuk PT Asuransi Kredit lndonesia untuk menjamin sepenuhnya Bank Garansi yang diterbitkan oleh Bank dan yang telah disetujui oleh PT Asuransi Kredit Indonesia. PT Asuransi Kredit Indonesia berhak menerima pembayaran sebesar 65% atas pendapatan penjaminan yang diperoleh Bank atas setiap transaksi penerbitan Bank Garansi Perjanjian tersebut akan berakhir pada tanggal 10 Agustus 2012.

d.

Agreement dated August 10, 2007 with PT Asuransi Kredit Indonesia in connection with “Secured the issuing of Bank Guarantee”. Through this agreement the Bank appointed PT Asuransi Kredit Indonesia to guarantee all Bank Guarantee issued by the Bank which already approved by PT Asuransi Kredit Indonesia. PT Asuransi Kredit Indonesia entitles to receive a fee payment about 65% over the revenue from issuing Bank Guarantee. This agreement will be expired on August 10, 2012.

e.

Perjanjian kerjasama dalam rangka Pinjaman Uang Muka Kredit Pemilikan Rumah Satuan Rumah Susun (PUM-SARUSUN) pada tanggal 29 Januari 2008. Melalui kerjasama ini Bank akan menyediakan fasilitas PUM-SARUSUN bagi Pegawai Negeri Sipil yang digunakan untuk membantu uang muka pembelian rumah, baik yang menggunakan fasilitas KPR bersubsidi maupun KPR Non Subsidi, dengan plafond setinggi-tingginya Rp20.000.000 (nilai penuh) dan dapat berkurang sesuai permintaan Pegawai Negeri Sipil. Pemberian PUMSARUSUN Kredit Pemilikan Rumah (KPR) untuk Pegawai Negeri Sipil sesuai dengan peraturan Menteri Negara Perumahan Rakyat selaku Ketua Harian Bapertarum-PNS No.69/PERMEN/2007 tentang Pemberian pinjaman/pembiayaan Uang Muka Kredit Pemilikan Rumah (KPR) satuan Rumah Susun (PUM-SARUSUN) bagi Pegawai Negeri Sipil. Jangka waktu perjanjian disesuaikan dengan jangka waktu KPR-SARUSUN.

e.

Agreement dated on January 29, 2008 in connection with borrowing of Down Payment Housing Loan (PUM-SARUSUN). Through this agreement, the Bank will provide down payment loan for government officers that will be used to purchase house, either using subsidized housing loan or non-subsidized housing loan, with maximum plafond is Rp20,000,000 (full amount) and can be reduced based on the officers request. Down Payment Housing Loan for government officers is agreed with the regulation of Minister of People’s Housing as Ketua Harian Bapertarum-PNS No.69/PERMEN/2007 regarding Down Payment Housing Loan for government officers. Term of this agreement is adapted with the KPR-SARUSUN term.

f.

Perjanjian kerjasama atas reksadana yang dikelola oleh PT Manulife Aset Manajemen Indonesia pada tanggal 8 April 2008. Melalui kerjasama ini Bank ditunjuk sebagai agen distribusi reksadana yang dikelola oleh PT Manulife Aset Manajemen Indonesia. Perjanjian tersebut akan berakhir pada 8 April 2009.

f.

Agreement dated on April 8, 2008 in connection with mutual fund managed by PT Manulife Aset Manajemen Indonesia. Based on this agreement, the Bank was appointed by PT Manulife Aset Manajemen Indonesia as mutual fund distribution agent. The agreement will be ended on April 8, 2009.

144




44. PERJANJIAN-PERJANJIAN (lanjutan) g.

SIGNIFIKAN

44. SIGNIFICANT AGREEMENTS (continued)

Perjanjian kerjasama dalam rangka penjaminan kredit/pembiayaan kepada usaha mikro, kecil, menengah, dan koperasi tanggal 14 Mei 2008, antara Departemen Keuangan Republik Indonesia, Departemen Pertanian Republik Indonesia, Departemen Kelautan dan Perikanan Republik Indonesia, Departemen Perindustrian Republik Indonesia, Departemen Kehutanan Republik Indonesia, dan Kementrian Negara Koperasi, Usaha Kecil dan Menengah Republik Indonesia sebagai pelaksana teknis program bersama Perum Sarana Pengembangan Usaha dan PT Asuransi Kredit Indonesia (Askrindo) sebagai perusahaan penjamin. Melalui kerjasama ini, Bank ditunjuk sebagai salah satu Bank Pemberi Kredit untuk menyalurkan kredit kepada usaha mikro, kecil, menengah, dan koperasi (UMKMK) yang dijamin oleh perusahaan penjamin dan merupakan kredit/pembiayaan dari perbankan berdasarkan hasil bank checking pada saat permohonan diajukan. Bank dapat memberikan kredit/pembiayaan KUR dengan jumlah setinggi-tingginya Rp5.000.000 (nilai penuh) kepada setiap UMKMK baik secara langsung maupun tidak langsung dengan suku bunga/bagi hasil efektif maksimal sebesar/setara 24% per tahun. Perjanjian tersebut akan berakhir berdasarkan kesepakatan bersama.

g.

45. PERISTIWA SETELAH TANGGAL NERACA

Agreement dated on May 14, 2008 between Department of Finance of the Republic of Indonesia, Department of Agriculture of the Republic of Indonesia, Department of Fisheries and Marines of the Republic of Indonesia, Department of Industry of the Republic of Indonesia, Department of Forestry of the Republic of Indonesia, Cooperatives, Small and Medium Enterprises Ministry of the Republic of Indonesia as technical officer together with Perum Sarana Pengembangan Usaha and PT Asuransi Kredit Indonesia (Askrindo) as a guarantee company. The Bank was appointed as one of Bank Pemberi Kredit to disburse loan to micro, small, and medium enterprises and cooperatives (UMKMK) that guaranteed by guarantee company. The loan is a loan from banking based on bank checking on loan application. The Bank may disburse loan at maximum of Rp5,000,000 (full amount) to each UMKMK directly or indirectly with maximum effective interest rate is 24% per annum. The agreement will be ended based on agreement reached.

45. SUBSEQUENT EVENTS

Pada tanggal 22 Januari 2009, Bank menyelenggarakan Rapat Umum Pemegang Saham Luar Biasa (RUPSLB), dengan agenda: 1. Persetujuan perubahan susunan Dewan Komisaris. 2. Laporan sehubungan dengan rencana PT Bank Bukopin Tbk. untuk melepaskan Unit Syariah Perseroan kepada PT Bank Syariah Bukopin.

On January 22, 2009, Bank arranged the Extraordinary General Meeting of Shareholders (RUPSLB) related to: 1. Approval the changes of the Boards of Commissioner. 2. Report related to plan Sharia Unit Bukopin into PT Bank Sharia Bukopin.

145




45. PERISTIWA (lanjutan)

SETELAH

TANGGAL

NERACA

45. SUBSEQUENT EVENTS (continued)

Berdasarkan Rapat Umum Pemegang Saham Luar Biasa yang dinyatakan dengan akta notaris No.7 dari notaris Lindasari Bachroem, S.H., tanggal 22 Januari 2009 ditetapkan perubahan susunan Dewan Komisaris menjadi sebagai berikut: Presiden Komisaris Komisaris Komisaris Komisaris lndependen Komisaris Independen Komisaris lndependen *

Based on the result of the Extraordinary General Meeting of Shareholders (RUPSLB) which were covered by notarial deed No. 7 of Lindasari Bachroem, S.H., dated January 22, 2009, the Boards of Commissioner has been changed as follows:

Saean Achmady Andi Chaerudin Muhamad Boediarso Teguh Widodo Syamsul Effendi Yoyok Sunaryo Loso Judijanto* *

Efektif setelah mendapatkan persetujuan dari Bank Indonesia, sebelum efektif Komisaris Independen dijabat oleh Sutrisno Iwantono

President Commissioner Commissioner Commissioner Independent Commissioner Independent Commissioner Independent Commissioner

Effective after approval from Bank Indonesia, before being effective, is acted as one of Independent Commissioner is Sutrisno Iwantono

46. JAMINAN PEMERINTAH TERHADAP KEWAJIBAN PEMBAYARAN BANK UMUM

46. GOVERNMENT GUARANTEE FOR THE PAYMENT OF OBLIGATIONS OF COMMERCIAL BANKS

Sejak tahun 1998, Pemerintah menjamin kewajiban bank umum meliputi giro, tabungan, deposito berjangka dan deposito on call, obligasi, surat berharga, pinjaman antar bank, pinjaman yang diterima, letters of credit, akseptasi, swap mata uang dan kewajiban kontinjensi lainnya seperti bank garansi, standby letters of credit, performance bonds dan kewajiban sejenis selain yang dikecualikan dalam keputusan ini seperti pinjaman subordinasi dan kewajiban kepada direktur, komisaris dan pihak terkait dengan Bank.

Since 1998, the Government guarantees the obligations of private banks including demand deposits, saving deposits, time deposits, deposits on call, bonds, marketable securities, interbank borrowings, fund borrowings, letters of credit, acceptances, currency swap and other contingent liabilities such as bank guarantees, standby letters of credit, performance bonds and other kinds of liabilities other than those excluded in this regulation such as subordinated loans, liabilities to directors, commissioners and related parties of the Bank.

Berdasarkan Surat Unit Pelaksana Penjaminan Pemerintah (UP3) No. S235/UP3/III/2005 pada tanggal 17 Maret 2005 yang menyatakan bahwa sejak tanggal 18 April 2005, kewajiban pembayaran bank yang dijamin hanya meliputi simpanan dan pinjaman yang diterima dari bank lain dalam bentuk transaksi pasar uang antar bank. Selanjutnya program penjaminan pemerintah tersebut akan berakhir pada tanggal 22 September 2005. Ketentuan mengenai pengurangan dan pengakhiran program penjaminan ini merupakan penegasan dari ketentuan dalam Keputusan Presiden No. 95 Tahun 2004.

In accordance with Letter No. S235/UP3/III/2005 of the Government Guarantee Unit (UP3) dated March 17, 2005, starting April 18, 2005, the liabilities covered under the guarantee program only includes deposits and borrowings from other banks in the form of money market transactions. Such government guarantee program will end on September 22, 2005. The regulations with respect to the reduction and termination of the government guarantee program is based on Presidential Decree No. 95 Year 2004.

146




46. JAMINAN KEWAJIBAN (lanjutan)

PEMERINTAH PEMBAYARAN

TERHADAP BANK UMUM

46. GOVERNMENT GUARANTEE FOR THE PAYMENT OF OBLIGATIONS OF COMMERCIAL BANKS (continued)

Berdasarkan Salinan Peraturan Lembaga Penjamin Simpanan No. 1/PLPS/2005 pada tanggal 26 September 2005 tentang Program Penjaminan Simpanan yang menyatakan bahwa sejak tanggal 22 September 2005, Lembaga Penjamin Simpanan (LPS) menjamin simpanan yang meliputi giro, deposito, sertifikat deposito, tabungan, dan atau bentuk lain yang dipersamakan dengan itu yang merupakan simpanan yang berasal dari masyarakat termasuk yang berasal dari bank lain. Saldo yang dijamin untuk setiap nasabah pada satu bank adalah:

Based on the Indonesia Deposit Insurance Corporation (IDIC) Regulation No. 1/PLPS/2005 dated September 26, 2005 regarding Deposit Guarantee Program, since September 22, 2005, the IDIC will guarantee bank deposits including demand deposits, time deposits, certificate of deposits, savings deposit, and other forms of deposits, including deposits from other banks. Guaranteed bank balances of each customer are as follows:

a.

maksimal sebesar Rp1.000, sejak tanggal 22 September 2006 sampai dengan 21 Maret 2007;

a.

maximum of Rp1,000, from September 22, 2006 until March 21, 2007;

b.

maksimal sebesar Rp100, sejak tanggal 22 Maret 2007 sampai dengan 12 Oktober 2008;

b.

maximum of Rp100, from March 22, 2007 until October 12, 2008;

Berdasarkan Peraturan Pemerintah RI No.65 tahun 2008 tentang Besaran Nilai Simpanan yang dijamin LPS, nilai simpanan yang dijamin untuk setiap nasabah pada satu Bank maksimal sebesar Rp2.000, sejak tanggal 13 Oktober 2008.

Based on the Government Regulations of RI No. 65 Year 2008 regarding Deposit Guarantee Program, the IDIC will guarantee customers’ deposit in one Bank maximum of Rp2,000, from October 13, 2008.

47. LABA PER SAHAM

47. EARNINGS PER SHARE

Berikut adalah perhitungan laba bersih per saham dasar dan dilusian: Rata-rata tertimbang jumlah saham dasar/ Weighted average number of ordinary shares outstanding

Laba bersih/ Net income 31 Desember 2008 Laba per saham dasar Ditambah: Asumsi penerbitan saham dari Program Opsi Kepemilikan saham I Laba per saham dilusian

The following presents the computations of basic and diluted eamings per share (EPS):

368.780

Laba bersih per saham (nilai penuh/ Earnings per share amount (full amount)

5.712.950.445

64,55

December 31, 2008 Basic earnings per share

-

-

-

Add: Assumed shares issued from the exercise of Management Stock Ownership Program I

368.780

5.712.950.445

64,55

Diluted earnings per share

147




47. LABA PER SAHAM (lanjutan)

47. EARNINGS PER SHARE (continued) Rata-rata tertimbang jumlah saham dasar/ Weighted average number of ordinary shares outstanding

Laba bersih/ Net income 31 Desember 2007 Laba per saham dasar

375.126

Ditambah: Asumsi penerbitan saham dari Program Opsi Kepemilikan saham I Laba per saham dilusian


41.622.347

-

375.126

5.690.386.721

65,92


Rata-rata tertimbang jumlah saham dasar/ Weighted average number of ordinary shares outstanding

315.216


5.183.571.444

60,81


-

30.882.902

-

Add: Assumed shares issued from the exericse of Management Stock Ownership Program I

315.216

5.214.454.346

60,45


48. INFORMASI TAMBAHAN

48. ADDITIONAL INFORMATION

Pada tanggaI-tanggal 31 Desember 2008, 2007, dan 2006 informasi tambahan Bank adalah sebagai berikut (Bank saja): 2008 Rasio aktiva produktif bermasalah terhadap jumlah aktiva produktif Rasio kredit terhadap simpanan Rasio jumlah beban operasional terhadap jumlah pendapatan operational Rasio aktiva produktif yang diklasifikasikan terhadap jumlah aktiva produktif

66,41

-

Ditambah: Asumsi penerbitan saham dari Program Opsi Kepemilikan saham I Laba per saham dilusian

5.648.764.374

Add: Assumed shares issued from the exericse of Management Stock Ownership Program I

Laba bersih/ Net income 31 Desember 2006 Laba per saham dasar


As at December 31, 2008, 2007, and 2006 additional information regarding the Bank is as follows (Bank only): 2007

2006 2,12%

Non-performing assets to total earning 1,89% Loans to deposits ratio

3,80% 83,60%

65,26%

58,86%

84,45%

84,84%

87,17%

Total operating expenses to total operating income ratio

3,66%

2,31%

2,29%

Total classified earning assets to total earning assets ratio

148




49. REVISI PERNYATAAN STANDAR AKUNTANSI KEUANGAN

49. REVISED STATEMENTS OF FINANCIAL ACCOUNTING STANDARDS

Ikatan Akuntan Indonesia telah menerbitkan beberapa standar akuntansi revisi sebagai berikut:

The Indonesian Institute of Accountants has issued the following revised accounting standards:

-

PSAK No. 50 (Revisi 2006), “Instrumen Keuangan: Penyajian dan Pengungkapan”, berisi persyaratan penyajian dari instrumen keuangan dan pengidentifikasian informasi yang harus diungkapkan. Persyaratan penyajian tersebut diterapkan terhadap klasifikasi instrumen keuangan, dari perspektif penerbit, dalam aset keuangan, kewajiban keuangan dan instrumen ekuitas; pengklasifikasian yang terkait dengan suku bunga, dividen, kerugian dan keuntungan, dan keadaan dimana aset keuangan dan kewajiban keuangan akan saling hapus. Pernyataan ini mensyaratkan pengungkapan, antara lain, informasi mengenai faktor yang mempengaruhi jumlah, waktu dan tingkat kepastian arus kas masa yang akan datang yang terkait dengan instrumen keuangan dan kebijakan akuntansi yang diterapkan untuk instrumen tersebut. PSAK No. 50 (Revisi 2006) ini menggantikan PSAK No. 50, ”Akuntansi Investasi Efek Tertentu” dan diterapkan secara prospektif untuk periode yang dimulai pada atau setelah tanggal 1 Januari 2009 (yang selanjutnya direvisi menjadi pada atau setelah tanggal 1 Januari 2010). Penerapan lebih dini diperkenankan dan harus diungkapkan.

-

PSAK No. 50 (Revised 2006), “Financial Instruments: Presentation and Disclosures” contains the requirements for the presentation of financial instruments and identifies the information that should be disclosed. The presentation requirements apply to the classification of financial instruments, from the perspective of the issuer, into financial assets, financial liabilities and equity instruments; the classification of related interests, dividends, losses and gains, and the circumstances in which financial assets and financial liabilities should be offset. This standard requires the disclosure, among others, of information about factors that affect the amount, timing and certainty of an entity’s future cash flows relating to financial instruments and the accounting policies applied to those instruments. PSAK No. 50 (Revised 2006) supersedes PSAK No. 50, “Accounting for Certain Investments in Securities” and is to be applied prospectively for the periods beginning on or after January 1, 2009 (which was subsequently revised to become on or after January 1, 2010). Earlier application is permitted and should be disclosed.

-

PSAK No. 55 (Revisi 2006), “Instrumen Keuangan: Pengakuan dan Pengukuran”, mengatur prinsip-prinsip dasar pengakuan dan pengukuran aset keuangan, kewajiban keuangan, dan kontrak pembelian dan penjualan item non-keuangan. Pernyataan ini, antara lain, memberikan definisi dan karakteristik terhadap derivatif, kategori dari instrumen keuangan, pengakuan dan pengukuran, akuntansi lindung nilai dan penetapan dari hubungan lindung nilai. PSAK No. 55 (Revisi 2006) ini menggantikan PSAK No. 55, “Akuntansi Instrumen Derivatif dan Aktivitas Lindung Nilai”, dan diterapkan secara prospektif untuk laporan keuangan yang mencakup periode yang dimulai pada atau setelah 1 Januari 2009 (yang selanjutnya direvisi menjadi pada atau setelah tanggal 1 Januari 2010). Penerapan lebih dini diperkenankan dan harus diungkapkan.

-

PSAK No. 55 (Revised 2006), “Financial Instruments: Recognition and Measurement” establishes the principles for recognising and measuring financial assets, financial liabilities, and some contracts to buy or sell non-financial items. This standard provides for the definitions and characteristics of a derivative, the categories of financial instruments, recognition and measurement, hedge accounting and determination of hedging relationships, among others. PSAK No. 55 (Revised 2006) supersedes PSAK No. 55, “Accounting for Derivative Instruments and Hedging Activities”, and is to be applied prospectively for financial statements covering the periods beginning on or after January 1, 2009 (which was subsequently revised to become on or after January 1, 2010). Earlier application is permitted and should be disclosed.

Bank belum dapat menentukan dampak dari penerapan standar revisi terhadap laporan keuangan konsolidasian.

The Bank has not been able to determine the impact of these revised standards on the consolidated financial statements.

149




50. REKLASIFIKASI AKUN

50. ACCOUNT RECLASSIFICATION

Beberapa akun dalam laporan keuangan untuk tahun yang berakhir pada tanggal 31 Desember 2007 dan 2006 telah direklasifikasi agar sesuai dengan penyajian laporan keuangan per 31 Desember 2008, sebagai berikut:

Certain accounts in the financial statements for the year ended December 31, 2007 and 2006 have been reclassified to conform with the financial statements presentation as of December 31, 2008 as follows: 2007

Deskripsi Akun

Dilaporkan Sebelumnya/ As Previously Reported

AKTIVA Goodwill Aktiva lain-lain - bersih LAPORAN LABA RUGI PENDAPATAN DAN BEBAN OPERASIONAL Pendapatan bunga

Reklasifikasi/ Reclassification

501.257

668 (668)

2.954.246

5.950

Setelah Direklasifikasi/ As Reclassified

Account Description

668 500.589

ASSETS Goodwill Other assets - net

2.960.196

STATEMENTS OF INCOME OPERATING REVENUES AND EXPENSES Interest income

Pendapatan operasional lainnya Lain-lain

206.751

(7.304)

199.447

Other operating incomes Others

Beban operasional lainnya Umum dan administrasi

511.858

(1.354)

510.504

Other operating expenses General and administrative

2006

Deskripsi Akun

Dilaporkan Sebelumnya/ As Previously Reported

AKTIVA Goodwill Aktiva lain-lain - bersih LAPORAN LABA RUGI PENDAPATAN DAN BEBAN OPERASIONAL Pendapatan bunga

Reklasifikasi/ Reclassification

366.932

859 (859)

2.887.856

4.987

Setelah Direklasifikasi/ As Reclassified

Account Description

859 366.073

ASSETS Goodwill Other assets - net

2.892.843

STATEMENTS OF INCOME OPERATING REVENUES AND EXPENSES Interest income

Pendapatan operasional lainnya Lain-lain

133.431

(5.247)

128.184

Other operating incomes Others

Beban operasional lainnya Umum dan administrasi

434.034

(260)

433.774

Other operating expenses General and administrative

51. TANGGUNG JAWAB MANAJEMEN ATAS LAPORAN KEUANGAN

51. MANAGEMENT’S RESPONSIBILITY ON THE FINANCIAL STATEMENTS

Manajemen Bank bertanggung jawab terhadap penyusunan laporan keuangan ini yang diselesaikan pada tanggal 17 April 2009.

The management of the Bank is responsible for the preparation of these financial statements that were completed on April 17, 2009.

150

Halaman ini sengaja dikosongkan


Corporate Data


Strength and stability are characteristics that set Bank Bukopin apart - as an organisation that is well structured, led inspiringly, and managed capably.

Organisational Structure [278] Corporate Information [279] Board of Commissioners [280] Board of Directors [282] Audit Committee[284] Remuneration and Nomination Committee [285] Risk Monitoring Committee [287] Sharia Supervisory Board [288] Senior Officers [289] Products and Services [296] Awards and Acknowledgement of National and International Scale [299] Office Network [303] Capital Market Supporting Institutions and Profession [315] 276 Bank Bukopin ANNUAL REPORT 2008

Solid Solid && Stable Stable


Organisational Structure

General Meeting of Shareholders Sharia Supervisory Board

Board of Commissioners Committee

President Director Committee


Director of Small, Medium Enterprise & Cooperative

General Manager Regional Business

General Manager Planning & Business Development

Head of Commercial Fund Division Head of Commercial Credit Division Head of Investment Banking Division

Head of SMEC & Commercial Business Division

Head of Agribusiness Division

Head of Consumer Business Development Division

Head of Program Fund Division

Head of Business Area Division Branch Manager

General Manager Micro Business

Head of Consumer Selling Management Division Head of Consumer Credit Division

Head of Credit Card Division

Head of Credit Restructuring & Settlement Division

Head of Sharia Division

Director of Service & Distribution


Branch Manager Sharia

Head of IT Strategy & Security Division

Head of Micro Business Division

Head of IT Development Division

Corporate Secretary

Head of IT Support & Operation Division Head of Legal & Credit Investigation Division Head of Distribution Network Division Head of Service Division Head of Operation Division


Director of Risk Management, Compliance & HR Development

General Manager Information Technology

Head of Micro Business Development Division

Head of Internal Audit Working Unit

Director of Finance & Planning

Head of Finance Planning & Accountancy Division Head of Assets Management Division Head of Capital Market Division

Head of Risk Management Division

Head of Compliance Division/ Special Executive on Customer Introduction Head of Human Resources Development Division

Head of Treasury Division

Head of International Banking Division

Corporate Information SUBSIDIARY COMPANY

On 31 March 2008 (date of acquisition), Bank Bukopin increased its holding in BPI by 40.11% to

PT Bukopin Finance (BF)

65.44%. This acquisition was based on the resolution

PT Bukopin Finance (BF) (was PT Indo Trans Buana

of the EGMS of Bank Bukopin dated 6 March 2008,

Multi Finance (ITBMF) was established on 11 March

in which Bank Bukopin had received the approval

1983 pursuant to Notarial Deed No. 5 from Tan A

of the shareholders for the acquisition of the new

Sioe, S.H., as a company that runs the leasing business

shares of BPI through the purchase of series C shares

(multi-finance company).

amounting to 2,000,000,000 shares at a value of Rp50

On 10 March 2006, Bank Bukopin acquired 50%

(fully diluted) per share (of Rp100,000), through which

shares of BF at value of Rp5,000. The goodwill that a

the holding of Bank Bukopin became 65.44%. This

rose from this acquisition was Rp651. Subsequently

acquisition is one of the strategies of Bank Bukopin

on 20 December 2006 (date of acquisition), Bank

in developing sharia business as a whole. Beginning

Bukopin increased its holding in BF by 30% to 80%,

on 31 March 2008, BPI Financial Report has been

at an acquisition cost of Rp15,000. As such, since

consolidated into Bank Bukopin’s Consolidated

20 December 2006, the Financial Statements of BF

Financial Report. On 27 October 2008, BPI received

have been consolidated into the Financial Report

the permit from Bank Indonesia to change its status

of Bank Bukopin. The goodwill recorded from this

from a Conventional Bank to a Sharia Bank, and to

acquisition was Rp305.

commence operations as Bank Syariah Bukopin (BSB) on 9 December 2008.

The composition of BF management is as follows: The composition of BSB management as follows: No.

Name

Position

1

Sugiyanto


2

Hasanuddin Tarug

Commissioner

No.

Name

Position

1

Chaerul Anwar *)

President Director

2

Indra Krisna Budi

Director

*) Awaiting the approval of the fit & proper test from the Ministry of Finance

PT Bank Syariah Bukopin (BSB) PT Bank Syariah Bukopin (BSB) (was PT Bank

No.

Name

Position President Commissioner

1

Hari Harmono

2

Hajriyanto Y. Thohari Commissioner

3

Prof. DR. Bambang Setiaji

No.

Commissioner

Name

Position

1

Riyanto

President Director

2

Eriandi

Director

3

Tantri Indrawati

Director

Persyarikatan Indonesia (BPI) and previously named

dated 29 July 1990, drawn in front of DR. Widjojo

For further information, please contact: Corporate Secretary

Wilami, SH., Notary in Jakarta, representing the

Gedung Bank Bukopin Lt. 1,

consolidation between PT Bank Pasar Gunung Sindoro

Jl. MT. Haryono Kav. 50-51, Jakarta 12770

and PT Bank Pasar Gunung Kendeng. BPI is operating

Telp. : (62-21) 798 9837, 798 8266

the banking business.

Fax. : (62-21) 798 0625

On 25 January 2006, Bank Bukopin acquired 24.73%

Email : [email protected]

shares of BSB for a total value of Rp42,000.

www.bukopin.co.id

PT Bank Swansarindo Internasional) was established on 11 September 1990 pursuant to Deed No. 102,


The Board of Commissioners SAEAN ACHMADY President Commissioner, 59 years of age, born in Jatiroso on 7 January 1949. President Commissioner of Bank Bukopin since July 2004. Currently serving as the Chairman of Kopelindo (Bulog Employees Cooperative) since 2004. A career officer with Bulog (State Logistics Agency), he served at Dolog Jatim (East Java Logistics Depot, 1974-1988) serving last as Head of Sub-logistics Depot II of South Surabaya; and subsequently at Head Office Bulog (1988-2007) in which he served as Head of Verification of the Financial Bureau and rose to become Finance Director of Perum Bulog. He holds a degree in Economics from Universitas Brawijaya, Malang (1973), and has participated in various courses and training programs at local and abroad.

ANDI CHAERUDDIN Muhammad Commissioner, 64 years of age, born in Sidrap, South Sulawesi on 12 July 1944. Commissioner of Bank Bukopin since June 2001. He has more than 30 years of experience with Bulog, serving last as the Technical Advisor to the Director of Operations. He has been Chairman of Yabinstra (the Bulog Employees Welfare Foundation) since 2004. He holds a degree in Agriculture from the Bogor Institute of Agriculture (1971) and has participated in various courses and training programs at local and abroad.

BOEDIARSO TEGUH WIDODO Commissioner, 50 years of age, born in Rembang on 23 August 1958. Commissioner of Bank Bukopin since August 2005. He served previously with the Ministry of Finance of the Republic of Indonesia (1985-2008), serving last as Director for State Budget Formulation and earning a Satya Lencana Karya Satya star decoration for 20 years of exemplary service. He holds a Master’s degree in Public Policy and Planning from the Faculty of Economics of the University of Indonesia (2005), and a degree in Economics from Universitas Diponegoro, Semarang (1982), and has participated in various courses and training programs at local and abroad.


SUTRISNO IWANTONO Independent Commissioner, 50 years of age, born in Malang on 5 May 1958. Independent Commissioner of Bank Bukopin since August 2005. He also served as Chairman of the Supervisory Commission for Business Competition (KPPU) until 2005, member of KPPU (2000-2005), Director General for Research and Development of the Ministry of Cooperative and Small Business (1999-2000), Deputy Minister of Cooperative and Small and Medium Enterprise for Marketing and Networking (2000-2002), technical advisor to the Minister of Cooperative and Small and Medium Enterprise (1998-1999), Head of Data and Information Center for Small Business Mentoring, Ministry of Cooperative and SME (1997-1998), Active as a Lecturer of the University of Indonesia since 1999, he was also Secretary of the Group Representative Faction of the Indonesian Parliament (2000-2001) and President of the Asian Farmers Group for Cooperation (AFGC - 2000-2001). He holds a Doctorate degree in Economics cum laude from Okayama University, Japan (1991), a Master’s degree in Agriculture cum laude from the same university (1988), and a degree in Social Economics from the Bogor Institute of Agriculture (1981).

YOYOK SUNARYO Independent Commissioner, 51 years of age, born in Yogyakarta on 21 July 1957. Independent Commissioner of Bank Bukopin since May 2007. He has had experience for 18 years with the Indonesian Association of Milk Cooperatives in which he last served as the Chairman. He was also Commissioner of PT Industri Susu Alam Murni (2002-2007), and a member of the Executive Board of PUSKUD (1999-2000). He holds a degree in Animal Husbandry from Universitas Gadjah Mada, Yogyakarta (1981), and has participated in various courses and training programs at local and abroad.

SYAMSUL EFFENDI Independent Commissioner, 55 years of age, born in Padang Sidempuan on 23 February 1953. Independent Commissioner of Bank Bukopin since July 2002. He also served as Commissioner of PT Kutai Timber Indonesia since 2001, following a career with the same company in which he last served as General Affairs Manager. He holds a degree in Political Science majoring in State Administration from Universitas Prof. Dr. Moestopo, Jakarta (1986), and has participated in various courses and training programs.


The Board of Directors GLEN GLENARDI President Director, 48 years of age, born in Cirebon on 30 October 1960. President Director of Bank Bukopin since July 2005. He joined Bank Bukopin in 1986, and served in various positions including Branch Manager in Cirebon (1989-1992), Group Head of Cooperative, Small and Micro Enterprise (1992-1999), and Director of Cooperative, Small and Micro Enterprise (2000). He holds a Master’s degree in Agribusiness Management from the Bogor Institute of Agriculture (1998), and a degree in Economics from Universitas Jayabaya, Jakarta (1985), and has participated in various courses and training programs at local and abroad.

TRI JOKO PRIHANTO Director of Finance and Planning, 48 years of age, born in Magelang on 5 May 1960. Director of Finance and Planning of Bank Bukopin since July 2006. He joined Bank Bukopin in 1986, starting as a Credit Officer and climbing up the corporate ladder to become Director of Operations prior to his present position. He holds a degree in Agriculture from the Bogor Institute of Agriculture (1985), and has participated in various courses and training programs at local and abroad.

SULISTYOHADI DS Director of Small, Medium Enterprise and Cooperative, 48 years of age, born in Kediri on 27 December 1960. Director of Small, Medium Enterprise and Cooperative of Bank Bukopin since July 2005. He joined Bank Bukopin in 1988 as Group Head of Business Institutions. He holds a Master’s degree in Management from Universitas Gadjah Mada, Yogyakarta (2006), a degree in Economics from Universitas Negeri, Jember (1986), and has participated in various courses and training programs at home.

AGUS HERNAWAN Director of Services and Distribution, 48 years of age, born in Jakarta on 27 August 1960. Director of Distribution and Service of Bank Bukopin since July 2007. He joined Bank Bukopin in 1986, and served among other posts as a Credit Officer, Branch Manager in Padang, Semarang, and Bandung; Line Business and Regional Group Head and Director of Consumer Banking. He holds a Master’s degree in Marketing Management from Universitas Padjajaran, Bandung (1999), a degree in Economics from Universitas Jayabaya (1986), and has participated in various courses and training programs at home.


SUNARYONO Director of Risk Management, Compliance and Human Resources Development, 52 years of age, born in Karanganyar on 30 June 1956. Director of Risk Management, Compliance and Human Resources Development of Bank Bukopin since July 2006. He joined Bank Bukopin in 1989, serving as Head of Cooperative, Small and Micro Business Development prior to his present position. He holds a Master’s degree in Business Administration from Institut Pengembangan Wiraswasta Indonesia (1993), a degree in Economics from the Bogor Institute of Agriculture (1981), and has participated in various courses and training programs at local and abroad.

LAMIRA SEPTINI PARWEDI Director of Consumer Banking, 48 years of age, born in Jakarta on 1 September 1960. Director of Consumer Banking of Bank Bukopin since June 2006. She joined Bank Bukopin in 1986. She began her career at the Giro Accounting Section and went on to become Credit Officer, Section Head of Bulog II Cash Office, Head of Sub-branch Office at Bulog II, Coordinator of Institutional Business IV Segment, Group Head of Business Line IV (oil and gas), Group Head of Mines, Oil-and-Gas and Energy, and Group Head of Commercial Assets III (Construction, Hotels and Restaurants). She holds a Master’s degree in Management from Sekolah Tinggi Manajemen PPM (2004), a degree in Economics from Universitas Trisakti (1985), and has participated in various courses and training programs at local and abroad.

MIKROWA KIRANA Director of Commercial Banking, 47 years of age, born in Jakarta on 13 July 1961. Director of Commercial Banking of Bank Bukopin since June 2006. He has served with Bank Bukopin for more than 20 years in various positions including Branch Manager in Kupang and Denpasar, Group Head of Commercial XI and of Commercial I, Group Head of Mines, Oil and Gas and Energy, and Group Head of Telecommunications businesses. He holds a Master’s degree in Business Administration from Coventry University, England (1997), a degree in Engineering from the Bogor Institute of Agriculture (1985), and has participated in various courses and training programs at local and abroad.


Audit Committee SYAMSUL EFFENDI Chairman of the Audit Committee, 55 years of age, born in Padang Sidempuan on 23 February 1953. Independent Commissioner of Bank Bukopin since July 2002. He also served as Commissioner of PT Kutai Timber Indonesia since 2001, following a career with the same company in which he last served as General Affairs Manager. He holds a degree in Political Science majoring in State Administration from Universitas Prof. Dr. Moestopo, Jakarta (1986), and has participated in various courses and training programs.

SUGIJANTO Member of the Audit Committee, 63 years of age, born in Mojokerto on 24 May 1945. Member of the Audit Committee of Bank Bukopin since March 2005. A member of the Indonesian Audit Committee Association (2006) and the Society of Indonesian Independent Commissioners (2005). He is by profession a Chartered Accountant who is a member of the Government Accounting Standard Committee. Previously, he served as the Director of State Cashier at the Directorate General of Logistics, Ministry of Finance (2004-July 2005). He holds a Master’s degree in Management from STIE IPWI-BPKP (1999), the Institute of Finance of the Ministry of Finance (1974), and a degree in Accountancy from the State Academy of Accountants (1968) and has participated various courses and training programs.

SURATTO SISWODIHARJO Member of the Audit committee, 62 years of age, born in Solo on 2 July 1946. Member of the Audit Committee of Bank Bukopin since 2004. He previously served a Commissioner of Bank Bukopin (2002-2003), Chairman of INKOPAU (1988-2002). and a member of the House of Representatives (1992-1998). He holds a degree in Trade Administration from Universitas Islam Jakarta (1992) and graduated from the Military Academy, Air Force Unit majoring in Materiel Administration (1969).


Remuneration and Nomination Committee YOYOK SUNARYO Committee Chairman, 51 years of age, born in Yogyakarta on 21 July 1957. Independent Commissioner of Bank Bukopin since May 2007. He has had experience for 18 years with the Indonesian Association of Milk Cooperatives. in which he last served as the Chairman. He was also Commissioner of PT Industri Susu Alam Murni (2002-2007), and a member of the Executive Board of PUSKUD (1999-2000). He holds a degree in Animal Husbandry from Universitas Gadjah Mada, Yogyakarta (1981), and has participated in various courses and training programs at local and abroad.

ANDI CHAERUDDIN MUHAMMAD Committee Member, 64 years of age, born in Sidrap, South Sulawesi on 12 July 1944. Commissioner of Bank Bukopin since June 2001. He has more than 30 years of experience with Bulog, serving last as the Technical Advisor to the Director of Operations. He has been Chairman of Yabinstra (the Bulog Employees Welfare Foundation) since 2004. He holds a degree in Agriculture from the Bogor Institute of Agriculture (1971) and has participated in various courses and training programs at local and abroad.

SYAMSUL EFFENDI Committee Member, 55 years of age, born in Padang Sidempuan on 23 February 1953. Independent Commissioner of Bank Bukopin since July 2002. He also served as Commissioner of PT Kutai Timber Indonesia since 2001, following a career with the same company in which he last served as General Affairs Manager. He holds a degree in Political Science majoring in State Administration from Universitas Prof. Dr. Moestopo, Jakarta (1986), and has participated in various courses and training programs.


BOEDIARSO TEGUH WIDODO Committee Member, 50 years of age, born in Rembang on 23 August 1958. Commissioner of Bank Bukopin since August 2005. He served previously with the Ministry of Finance of the Republic of Indonesia (1985-2008), serving last as Director for State Budget Formulation and earning a Satya Lencana Karya Satya star decoration for 20 years of exemplary service. He holds a Master’s degree in Public Policy and Planning from the Faculty of Economics of the University of Indonesia (2005), a degree in Economics from Universitas Diponegoro, Semarang (1982), and has participated in various courses and training programs at local and abroad.

Mulyana Committee Member, 52 years of age. A career banker with Bank Bukopin since April 1986, he served in various positions including as the Corporate Secretary and the Divisional Head of Human Resources Development since March 2008. He holds a degree in Civil Law from the University of Indonesia, Jakarta, and has participated in various professional training programs.


Risk Monitoring Committee SUTRISNO IWANTONO Committee Chairman, 50 years of age, born in Malang on 5 May 1958. Commissioner of Bank Bukopin since August 2005. He also served as Chairman of the Supervisory Commission for Business Competition (KPPU) until 2005, member of KPPU (2000-2005), Director General for Research and Development of the Ministry of Cooperative and Small Business (1999-2000), Deputy Minister of Cooperative and Small and Medium Enterprise for Marketing and Networking (2000-2002), technical advisor to the Minister of Cooperative and Small and Medium Enterprise (1998-1999), Head of Data and Information Center for Small Business Mentoring, Ministry of Cooperative and SME (1997-1998), Active as a Lecturer of the University of Indonesia since 1999, he was also Secretary of the Group Representative Faction of the Indonesian Parliament (2000-2001) and President of the Asian Farmers Group for Cooperation (AFGC - 2000-2001). He holds a Doctorate degree in Economics cum laude from Okayama University, Japan (1991), a Master’s degree in Agriculture cum laude from the same university (1988), and a degree in Social Economics from the Bogor Institute of Agriculture (1981).

BOEDIARSO TEGUH WIDODO Committee Member, 50 years of age, born in Rembang on 23 August 1958. Commissioner of Bank Bukopin since August 2005. He served previously with the Ministry of Finance of the Republic of Indonesia (1985-2008), serving last as Director for State Budget Formulation and earning a Satya Lencana Karya Satya star decoration for 20 years of exemplary service. He holds a Master’s degree in Public Policy and Planning from the Faculty of Economics of the University of Indonesia (2005), a degree in Economics from Universitas Diponegoro, Semarang (1982), and has participated in various courses and training programs at local and abroad.

SUGIJANTO Committee Member, 63 years of age, born in Mojokerto on 24 May 1945. Member of the Audit Committee of Bank Bukopin since March 2005. A member of the Indonesian Audit Committee Association (2006) and the Society of Indonesian Independent Commissioners (2005). He is by profession a Chartered Accountant who is a member of the Government Accounting Standard Committee. Previously, he served as the Director of State Cashier at the Directorate General of Logistics, Ministry of Finance (2004-July 2005). He holds a Master’s degree in Management from STIE IPWI-BPKP (1999), the Institute of Finance of the Ministry of Finance (1974), and a degree in Accountancy from the State Academy of Accountants (1968) and has participated various courses and training programs.


Sharia Supervisory Board DIDIN HAFIDHUDDIN Chairman, 57 years of age, born in Bogor on 21 October 1951. Chairman of the Sharia Supervisory Board of Bank Bukopin since 2001. Also Chairman of the Sharia Supervisory Board of IFI, Chairman of the Board of Sharia Takaful Indonesia, Chairman of the National Alms Board (BAZNAS), Chairman of the Sharia Board of BPRS Amanah Ummah Leuwiliyang Bogor, Vice Chairman of the Advisory Board of the Sharia Economic Community (MES), Professor at the Bogor Institute of Agriculture (2006). He holds a Doctorate degree from Universitas Islam Negeri (UIN) Syarief Hidayatullah Jakarta, a Master’s degree in Development Studies, and a degree from the Faculty of Sharia, UIN Syarief Hidayatullah.

ALI MUSTAFA YA’QUB Member, 56 years of age, born in Batang on 2 March 1952 . Member of the Sharia Supervisory Board of Bank Bukopin since 2001. His professional experience includes serving as Vice Chairman of the Fatwa Commission of the Central Indonesian Council of Ulemas (MUI), Vice Chairman of BPH for sharia business and insurance on the National Sharia Board of MUI. He holds a Postgraduate degree from the University of King Saud, Saudi Arabia (1985), and degrees from the Faculty of Sharia, Islamic University of Imam Muhammad bin Saud, Saudi Arabia (1980), and from the Faculty of Sharia, Universitas Hasyim Asyhari, Jombang (1976).

IKHWAN ABIDIN BASRI Member, 42 years of age, born in Lamongan on 20 June 1966. Member of the Sharia Supervisory Board of Bank Bukopin since 2001. Currently also serving as a member of the National Sharia Board, the Sharia Accountancy Committee of the Indonesian Institute of Accountants, Expert Consultant on Sharia at the Directorate of Sharia, the Sharia Banking Development Agency (LPPI). He holds a Master of Arts (MA) degree in Economics from Jami’ah Islamiyyah, Faisalabad, Punjab, Pakistan (1994), and a Master’s degree in Islamic Economics from the International Institute of Islamic Economics, Islamabad, Pakistan (1992).


Senior Officers GENERAL MANAGER & DIVISION HEADS:

Rudy Susatyo, VP-General Manager Information and Technology

Djulay Iskandar, SVP-General Manager Regional Business I

General Manager Information and Technology as of

General Manager Regional Business I as of March

March 2008, having served with Bank Bukopin since

2008, having served with Bank Bukopin since May

May 1987. He holds a degree in Economics majoring

1987. He holds a Master’s degree in Management

in Development Studies from Universitas Indonesia,

from Universitas Islam Indonesia, Yogyakarta, and has

and has completed various professional training

completed various professional training programs.

programs.

Aris Wahyudi, VP-General Manager Regional Business II

Tantri Wulandari, AVP-Corporate Secretary

General Manager Regional Business II as of March

Corporate Secretary as of August 2008, having served

2008, having served with Bank Bukopin since May

with Bank Bukopin since March 1991. She holds

1987. He holds a degree in Social Economics from

a degree in Engineering from the Bogor Institute

the Bogor Institute of Agriculture, and has completed

of Agriculture, a Master’s degree in Management

various professional training programs.

from Prasetya Mulya, and has completed various professional training programs.

Eddy Cahyono, VP-General Manager Regional Business III General Manager Regional Business III as of March

Ellyanoura Mopilie, AVP-Head of Credit Restructuring

2008, having served with Bank Bukopin since April

and Settlement Division

1986. He holds a Master’s degree in Management from

Head of Credit Restructuring and Settlement Division

STIE Triananda, Jakarta, and has completed various

as of September 2003, having served with Bank

professional training programs.

Bukopin since February 1986. She holds a degree in Economics majoring in Management from Universitas

Edy Pramana, VP-General Manager Regional Business IV

Hasanuddin, Makassar, and has completed various

General Manager Regional Business IV as of March


2008, having served with Bank Bukopin since December 1987. He holds a degree in Economics

Rudi Bachtiar, VP-Head of Internal Audit Working Unit

majoring in Business Economics from IKIP Sanata

(SKAI)

Dharma, Yogyakarta and has completed various

Head of Internal Audit Working Unit as of August


2000, having served with Bank Bukopin since August 1988. He holds a Master’s degree in Agribusiness

Sudarmin Sjamsoe, VP-General Manager Business

Management from the Bogor Institute of Agriculture

Planning and Development


General Manager Business Planning and Development

programs.

as of March 2008, having served with Bank Bukopin since May 1987. He holds a degree in Economics

Mulyana, AVP-Head of Human Resources

majoring in Management from Universitas Indonesia and

Development Division

has completed various professional training programs.

Head of Human Resources Development Division as of April 2008, having served with Bank Bukopin

Setiawan Sudarmaji, VP-General Manager Micro Business

since April 1986. He holds a degree in Civil Law from

General Manager Micro Business as of March 2008,

Universitas Indonesia, Jakarta and has completed

having served with Bank Bukopin since 1988. He


holds a degree in Economics majoring in Management from Universitas Diponegoro, Semarang and has completed various professional training programs.


Nasri Nazir, VP-Head of Area VI Business Division

Djoni Edward, AVP-Head of Sharia

Head of Area VI Business Division as of March 2008,

Head of Sharia as of February 2000, having served

having served with Bank Bukopin since April 1986. He

with Bank Bukopin since January 1990. He holds

holds a degree in Economics majoring in Development

a degree in Economics from Universitas Andalas,

Studies from Universitas Indonesia, Jakarta, and has

Padang, and has completed various professional


training programs.

Hari Wurianto, AVP-Head of Service Division

Syafril, AVP-Head of SMEC & Commercial Business

Head of Service Division as of August 2006, having

Development Division

served with Bank Bukopin since 1991. He holds a

Head of SMEC Development & Commercial Business

degree in Agriculture majoring in Social Economics,

Division as of January 2009 and having served with

the Bogor Institute of Agriculture, and has completed

Bank Bukopin since April 1986. He holds a degree


in Economics, majoring in Development Studies from Universitas Gadjah Mada, Yogyakarta, and has

Rivan Achmad Purwantono, AVP-Head of Area IV


Business Division Head of Area IV Business Division since March 2008,

Tintrin Wachjuni, AVP-Head of Legal & Credit

having served with Bank Bukopin as of February 2006.

Investigation Division

He holds a Master’s degree in Law from Universitas

Head of Legal & Credit Investigation Division as of

Pelita Harapan, Jakarta, and has completed various

January 2008, having served with Bank Bukopin since


April 1986. She holds a degree in Civil Law from Universitas Indonesia, and has completed various

Hari Harmono Busiri, AVP-Head of Agribusiness Division


Head of Agribusiness Division as of March 2008, having served with Bank Bukopin since October

Chitra Satyawati, AVP-Head of Consumer Selling

1986. He holds a degree in Animal Husbandry from

Management Division

Universitas Padjadjaran, Bandung, and has completed

Head of Consumer Selling Management Division as


of August 2006, having served with Bank Bukopin since August 1991. She holds a Master’s degree in

Eko Basuki Trimurtiono, AVP-Head of Area II Business

Accountancy from Universitas Indonesia, Jakarta, and

Division


Head of Area II Business Division as of March 2008, having served with Bank Bukopin since May 1987.

Heru Prabowo, VP-Head of Area I Business Division

He holds a Master’s degree in Management from STIE

Head of Area I Business Division, having served

IPWI, Jakarta, and has completed various professional

with Bank Bukopin as of October 2002. He holds a

training programs.

Master’s degree in Business Administration majoring in International Banking & Finance from University

Karel Palallo, AVP-Head of Micro Business Division

of Birmingham, UK, and has completed various

Head of Micro Business Division as of June 2001,


having served with Bank Bukopin since November 1985. He holds a Master’s degree in Management

Marviani Anggrahito, VP-Head of Treasury Division

from Universitas Krisnadwipayana, Jakarta, and has

Head of Treasury Division as of January 2005, having


served with Bank Bukopin. She holds a degree in Agriculture majoring in Agribusiness from the Bogor Institute of Agriculture, and has completed various professional training programs.


Saidi Mulia Lubis, VP-Head of Commercial II Division

Setiani, AVP-Head of Financial Planning &

Head of Commercial II Division as of March 2008,

Accountancy Division

having served with Bank Bukopin since May 1987.

Head of Financial Planning & Accountancy Division

He holds a Master’s degree in Management from IPMI

as of April 2008, having served with Bank Bukopin

Business School, Jakarta, and has completed various

since March 1991. She holds a degree in Economics


majoring in Accountancy from Universitas Airlangga, and has completed various professional training

Nuniek Widiani, VP-Head of Commercial Fund Division

programs.

Head of Commercial Fund Division as of March 2008, having served with Bank Bukopin since July 1985.

Sugiyanto, VP-Head of Assets Management Division

She holds a degree in Agriculture majoring in Social

Head of Assets Management Division as of August

Economics from the Bogor Institute of Agriculture, and

2008, having served with Bank Bukopin since April


1986. He holds a degree in Economics majoring in Management from Universitas Diponegoro, Semarang,

Ajar Susanto Broto, AVP-Head of Risk Management


Division

programs.

Head of Risk Management Division as of March 2008, having served with Bank Bukopin since April

Deddy Methaputranto, AVP-Head of Distribution and

1997. He holds a degree in Technical from Universitas

Network Division

Diponegoro, and has completed various professional

Head of Distribution Network Division as of

training programs.

March 2008, having served with Bank Bukopin since February 1988. He holds a Master’s degree

Achmad Fachmi, VP-Head of Commercial Credit I Division

in Management from Universitas Gadjah Mada,

Head of Commercial credit I Division as of March

Yogyakarta, and has completed various professional

2008, having served with Bank Bukopin since

training programs.

September 1990. He holds a Master’s degree in Agribusiness Management from the Bogor Institute of

Adil Syahputra, VP-Head of Compliance Division /

Agriculture, and has completed various professional

Special Executive on Customer Introduction

training programs.

Head of Compliance Division / Special Executive on Customer Introduction as of August 2008, having

Nursanto, AVP-Head of Operational Division

served with Bank Bukopin since March 1991.

Head of Operation Division as of September 2006,

He holds a degree in Management Industry from

having served with Bank Bukopin since May 1987. He

Universitas Teknologi Nasional, and has completed

holds a degree in Economics majoring in Accountancy


from Universitas Indonesia, Jakarta, and has completed various professional training programs.

Agus Sutiawan, AVP - Acting Head of Information Technology Development Division

Didik Imam Waluja, AVP-Acting Head of Information

Acting Head of Information Technology Development

Technology Supports & Operation

Division as of January 2008, having served with Bank

Acting Head of Information Technology Supports &

Bukopin since March 1998. He holds a Master’s

Operation as of January 2008, having served with

degree in Information Technology, Universitas New

Bank Bukopin since March 1990. He holds a degree in

South Wales, Australia, and has completed various

Computer from PAT ITB, Bandung, and has completed




Mukdan Lubis, AVP - Head of Information Technology

Dwi Andayani, AVP-Head of Consumer Credit

Strategy and Security Division

Head of Consumer Credit as of March 2008. She holds

Head of Information Technology Strategy and Security

a degree in Agriculture from the Bogor Institute of

Division as of March 2008. He holds a Master’s degree

Agriculture, and has completed various professional

in Agribusiness Management from the Bogor Institute

training programs.

of Agriculture, Bogor, and has completed various professional training programs.

BRANCH MANAGERS:

Irlan Su’ud, AVP - Head of Program Fund Division

Bharata Nugraha, AVP - Branch Manager of Tanjung Pinang

Head of Program Fund Division as of February 2008,

Branch Manager of Tanjung Pinang as of January 2008,

having served with Bank Bukopin since August 1991.

having served with Bank Bukopin since May 1987.

He holds a degree in Civil Law from Universitas

He holds a degree in Economics majoring in Business

Indonesia, Jakarta, and has completed various

Economics from Universitas Krisnadwipayana, Jakarta,


and has completed various professional training programs.

Mochamad Djanoko, AVP-Head of Area V Business Division

Bagir Assegaf, AVP - Branch Manager of Padang

Head of Area V Business Division as of March 2008.

Branch Manager of Banjarmasin as of April 2005,

He holds a degree in Law from Universitas Jayabaya,

having served with Bank Bukopin since December

Jakarta, and has completed various professional

1999. He holds a degree in Law majoring International

training programs.

Law from Universitas Diponegoro, Semarang, and has completed various professional training programs.

Sapti Murtiningsih, VP-Head of Credit Card Division Head of Credit Card Division as of May 2007.

Agung Cahyono, AVP - Branch Manager of Malang

She holds a Master’s degree in Management from

Branch Manager of Malang as of January 2008, having

Universitas Gadjah Mada, Yogyakarta and, has

served with Bank Bukopin since February 1988. He


holds a degree in Economics majoring in Management from Universitas Krisnadwipayana, Jakarta, and has

Aprianti Amir, AVP-Head of Area III Division


Head of Area III Division as of March 2088. She holds a Master’s degree in Management from Sekolah Tinggi

Rachmorsito, AVP - Branch Manager of Bandung

Manajemen PPM, Jakarta, and has completed various

Branch Manager of Bandung as of October 2006,


having served with Bank Bukopin since March 1989. He holds a degree in Economics majoring in

Wahyudiansyah, AVP-Head of Investment Banking

Management from Universitas Sebelas Maret, Solo,

Division


Head of Investment Banking Division as of August

programs.

2006, having served with Bank Bukopin since August 1991. He holds a degree in Agriculture from the Bogor

Jufri Ahmad, AVP - Branch Manager of Banjarmasin

Institute of Agriculture, and has completed various

Branch Manager of Banjarmasin as of July 2008,


having served with Bank Bukopin since December 1986. He holds a degree in Law majoring International Law from Universitas Diponegoro, Semarang and has completed various professional training programs.


Mazni Hasbi, AVP - Branch Manager of Batam

Mas Huril Hidayat, AVP - Branch Manager of Jember

Branch Manager of Batam as of August 2006, having

Branch Manager of Jember as of March 2006, having

served with Bank Bukopin since July 1997. He holds

served with Bank Bukopin since January 1986. He

a degree in Technique from UPN Veteran, Yogyakarta,

holds a degree in Economics from Sekolah Tinggi Ilmu


Ekonomi, and has completed various professional

programs.

training programs.

Dewi Ekawati, AVP - Branch Manager of Bogor

John M. Muchtar, AVP - Branch Manager of Karawang

Branch Manager of Bogor as of September 2006,

Branch Manager of Karawang as of July 2005, having

having served with Bank Bukopin since March


1991. She holds a Master’s degree in Agribusiness

holds a degree in Economics majoring in Management

Management from the Bogor Institute of Agriculture,

from Universitas Kristen Indonesia, and has completed



programs. Rudianto, AVP - Branch Manager of Kupang Agus Gunarto, AVP-Branch Manager of Pontianak

Branch Manager of Kupang as of January 2008, having

Branch Manager of Pontianak as of January 2008,

served with Bank Bukopin since December 1986. He

having served with Bank Bukopin since January 1990.


He holds a Master’s degree in Management from

from Universitas Putra Bangsa, and has completed

Sekolah Tinggi Manajemen PPM, Jakarta, and has


completed various professional training programs. M. Rudy Irfan, AVP - Branch Manager of Makassar Arzaflan, AVP - Branch Manager of Cirebon

Branch Manager of Makassar as of September 2006,

Branch Manager of Cirebon as of June 2007, having

having served with Bank Bukopin since August


1991. He holds a degree in Economics majoring in


Management from Universitas Krisnadwipayana,

from Universitas Pancasila, Jakarta, and has completed

Jakarta, and has completed various professional


training programs.

Fatchurrochim, AVP - Branch Manager of Denpasar

Dhani Tresno, Mgr - Branch Manager of Mataram

Branch Manager of Mataram as of April 2004, having

Branch Manager of Mataram as of July 2008, having



holds a degree in Economics majoring in Accountancy,

holds a degree in Economics majoring in Finance

from Universitas Airlangga, and has completed various

Banking-STEKPI, Jakarta, and has completed various



Armia Arco, AVP - Branch Manager of Jambi

Eddy Linson Harlianto, VP - Branch Manager of Medan

Branch Manager of Jambi as of March 2006, having

Branch Manager of Medan as of July 2004, having


served with Bank Bukopin since August 1988.


He holds a degree in Agriculture from Universitas

from Universitas Syiah Kuala, Banda Aceh, and has

Padjadjaran, Bandung, and has completed various




Moh. Fahrurazi, AVP - Branch Manager of Palembang

Heri Purwanto, AVP - Branch Manager of Semarang

Branch Manager of Palembang as of September 2006,

Branch Manager of Semarang as of April 2006, having

having served with Bank Bukopin since September 1988.

served with Bank Bukopin since September 1987. He

He holds a degree in Economics majoring in Finance from


Sekolah Tinggi Ilmu Ekonomi and has completed various

from Universitas Slamet Rijadi, Solo, and has



M. Idris Ali, AVP - Branch Manager of Parepare

Suflan Rizal, AVP - Branch Manager of Surabaya

Branch Manager of Parepare as of July 2008, having

Branch Manager of Surabaya as of April 2006, having

served with Bank Bukopin since May 1989. He holds

served with Bank Bukopin since September 1985.

a degree in Economics majoring Management from

He holds a Master’s degree in Management from

Universitas Hasanuddin and has completed various

Universitas Brawijaya, Malang, and has completed



Akhmad Hariyadi, AVP - Branch Manager of Pekanbaru

Bambang Margono, AVP - Branch Manager of

Branch Manager of Pekanbaru as of January 2008,

Tasikmalaya

having served with Bank Bukopin since March 1991.

Branch Manager of Tasikmalaya as of June 2007,

He holds a degree in Agriculture majoring in Social

having served with Bank Bukopin since March

Economics from the Bogor Institute of Agriculture, and



Accountancy from Universitas Sebelas Maret, Solo, and has completed various professional training

Dharmawan Boedi Rachmanto, AVP - Branch Manager

programs.

of Probolinggo Branch Manager of Probolinggo as of December 2005,

Eddy Junaidi, AVP-Branch Manager of Tegal


Branch Manager of Tegal as of October 2006, having

1986. He holds a Master’s degree in Management


from Universitas Muhammadiyah, Malang, and has

holds a Master’s degree in Management from Sekolah


Tinggi Manajemen IPPM, Jakarta and has completed various professional training programs.

Tri Djoko Rusiono, Mgr - Branch Manager of Bandar Lampung

Anas Fadli, AVP - Branch Manager of Yogyakarta

Branch Manager of Bandar Lampung as of January 2008,

Branch Manager of Padang as of September 2006,

having served with Bank Bukopin since November 1989.

having served with Bank Bukopin since February

He holds a degree in Economics majoring in Management


from Universitas Jayabaya, Jakarta, and has completed

Management from Universitas Syiah Kuala, Banda


Aceh, and has completed various professional training programs.

Muhammad Nur Al Fatah, AVP - Branch Manager of Samarinda

Erwin Syamsuar, AVP-Branch Manager of Solo

Branch Manager of Samarinda as of July 2007, having

Branch Manager of Solo as of January 2008, having

served with Bank Bukopin since September 1990. He


holds a Master’s degree in Banking Management from

holds a degree in Agriculture from the Bogor Institute

Universitas Hasanuddin, Makassar, and has completed

of Agriculture, and has completed various professional


training programs.


Afrizal, AVP-Branch Manager of Cilegon

Bambang Widyatmoko, APV - Branch Manager of

Branch Manager of Cilegon as of January

Sidoarjo


Branch Manager of Sidoarjo as of June 2008, having

March 1987. He holds a Master’s degree in

served with Bank Bukopin since April 1997. He holds

Management from Universitas Diponegoro,

a Master’s degree in Management from Universitas


Indonesia, and has completed various professional

programs.

training programs.

Erfin, AVP-Branch Manager of Banda Aceh

Suroso, AVP-Sharia Branch Manager of Bandung

Branch Manager of Banda Aceh as of September

Sharia Branch Manager of Bandung as of April 2008,


having served with Bank Bukopin since February

February 1988. He holds a degree in Economics

1990. He holds a degree in Social Economics from

majoring in Accountancy from Sekolah Tinggi

Universitas Gadjah Mada, Yogyakarta, and has

Ilmu Ekonomi, and has completed various


professional training programs. Amri HS, Mgr - Sharia Branch Manager of Bukittinggi Pandjang Usianto , AVP-Branch Manager of

Sharia Branch Manager of Bukittinggi as of February

Purwokerto

2009, Having served with Bank Bukopin since August

Branch Manager of Purwokerto as of January

1984. He holds a Diploma of AKP majoring in Finance


and Banking AKB & P, Padang, and has completed

January 1991. He holds a degree in Economics


majoring in Accountancy from Sekolah Tinggi Ilmu Ekonomi Kertanegara, Malang, and

Aswad Irianto, Mgr-Sharia Branch Manager of Medan

has completed various professional training

Sharia Branch Manager of Medan as of March 2008,

programs.

having served with Bank Bukopin since June 1986. He holds a degree in Economics majoring in Development

Andi Darma, AVP-Branch Manager of

Studies from Universitas Islam Sumatera Utara, and

Balikpapan


Branch Manager of Balikpapan as of January 2008, having served with Bank Bukopin since

Arief Gunawan, Mgr - Sharia Branch Manager of

October 1997. He holds a degree in Agriculture

Melawai

majoring in Social Economics from the Bogor

Sharia Branch Manager of Melawai as of March 2008,

Institute of Agriculture, and has completed



2001. He holds a degree in Economics majoring in Production Management from IKOPIN, and has

Amir Salahuddin, AVP-Branch Manager of


Manado Branch Manager of Manado as of July 2005,

Ersyam Fansuri, AVP - Branch Manager of Sharia

having served with Bank Bukopin since

Surabaya

November 1989. He holds a degree in

Sharia Branch Manager of Surabaya and having served

Economics majoring in Accountancy from

with Bank Bukopin since November 2003. He holds

Universitas Udayana, and has completed

a degree in Law from Universitas Brawijaya, Malang,


and has completed various professional training programs.


Products and Services I. CONVENTIONAL

# Pre Export Financing (Export Loan)

1. FUND

- Domestic Letter of Credit

• SiAga Savings

(SKBDN)

• SiAga Premium Savings • SiAga Bisnis Savings

- Stand By LC/Bank Guarantee # Loan to Employee Cooperative for

• SiAga Dollar Savings

its Members (K3A)

• SiKosi Savings

# Loan for Rice Supply

• Rencana Savings

# Loan to Employee Cooperative for

• Hajj Bukopin Savings

Goods Supply and Lease

• Merdeka Time Deposit

# Loan for Sugar

• Dollar Time Deposit

# Loan for SME Partnership

• Time Deposit • Deposit On Call • Bukopin Demand Deposit

• Consumer Loans: - Housing/Apartment Loan (KPR/KPA):

• Dollar Demand Deposit

# KPR Refinancing

• Forex Demand Deposit

# KPR Indent # KPR Renovation

2. CREDIT

# KPR on Collective Basis

• Investment Loans: - Mini Mill Loan - Heavy Equipment Loan - Machinery Financing

- Bukopin Car Loan (KMB): # KMB Refinancing # KMB on Collective Basis - Multi-purpose Loan (KSG)

- Building Financing - Project Financing - Other Investment Loans • Working Capital Loans: -

Overdraft

- Receivable Financing

• Syndication: - Co-Financing • Back to Back Loan • Credit International Cooperation Development Funds (ICDF) - Taiwan

- Inventory Financing

• Swamitra Working Capital Loan

- Project Financing

• Bank Guarantee

- Uncommitted Loan

• Aval

- Bridging Loan

• Endorsement

- Trade Finance:

• Commitment Letter

# Import:

• Letter of Intent

- Import Letter of Credit

• Reference

- Trust Receipt (TR)

• Program Loan:

- Post Import Financing

- SMEC Loan with SU-005 Funds

- Import Collection

- Loan to Primary Cooperative for Its

- Shipping Guarantee # Export: - Export Letter of Credit - Export Letter of Credit Financing (Post Export Financing) - Export Collection

Members (KKPA) - Loan to Agricultural Financing Scheme (SP-3) - Loan for Food Resilience (KKPE) - Pundi Loan - Loan with the Scheme of Guaranteed Funds


- People Business Credit (KUR)

• Safe Deposit Box

- Low/Very Low-cost Housing Loan

• Bank Reference

(KPRS/RSS) • Non-Program Loan: - Working Capital and Investment Loan - Loan to Employee Cooperative for Its Members (K3A) - Loan to Cooperative Employee to Purchase and Lease of Goods - Loan for Operational Vehicle Ownership (KPKU)

• Hajj Pilgrimage Funds (BPIH) • Receiving Agent for Tax Payment and other State Revenue Module (MPN) • Electronic Payments of Tax on Land and Building (PBB) • Payroll • Payment of Credit Card (Visa) • Payment of Electricity, Water, Telephone, Cell-phone Voucher

- SME Partnership Loan

• Payment of Prepaid Cell-phone Voucher

- SME Suppliers Loan

• Payment of School Tuition (SPP)

- Loan to Hiswanamigas’s Members

• Payment of Cell-phone Top-up

- Heavy Equipment Loan

• Receipt of Payment for Credit Installment of

- Sugar Financing Loan

Multifinance Company

- Rice Supply Loan to Bulog Suppliers 4. FACILITIES and MEANS OF TRANSACTION 3. SERVICES

• Bukopin ATM Card

• Bukopin Cash Management

• SiAga Visa Electron Debit Card

• Partnership: Swamitra

• ATM Co-branding Card

• Agency Services:

• Priority Card

- Paying Agent

• Bukopin Credit Card

- Security Agent

• Electronic Channels:

- Escrow Account Agent • Trustee • Remittance:

- ATM Bukopin - ATM Network: ALTO, PRIMA, ATM Bersama and PLUS

- Outgoing Transfer

- Bukopin Internet Banking

- Incoming Transfer

- Bukopin SMS Banking

- Bank Draft

- ‘Halo Bukopin’ (Call Center)

- Clean Collection: # Outward Collection # Inward Collection • Arranger/Co-Arranger for Syndicated Loans • Custodian Bank (Conventional and Mutual Funds)

• Auto Debit Facility • Integrated Hajj Communication System (Siskohat) • Bank Indonesia Real Time Gross Settlement (BI-RTGS) • SiAgaMatic

• Collecting Agent (payment of car loan installments) • Transfer • Clearing • Collection


II. SHARIA 1. FUNDS • iB SiAga Savings

CREDIT FOR MSMEC 1. COMMERCIAL CREDIT 1. Commercial

• iB Rencana Savings

• Working Capital Loan

• iB Hajj Savings

• Investment Loan

• iB Demand Deposit • iB Forex Demand Deposit • iB Time Deposit

2. Scheme • SME Partnership Loan Scheme • Current Account Loan Scheme

2. FINANCING • iB Murabahah Sale and Purchase • iB Car Ownership Financing

• Bank Guarantee (by PT Askrindo) • Loan to Employee Cooperatives for Its Members (K3)

• iB House Ownership Financing

• Credit Insurance by PT Askrindo

• iB Financing (Mudharabah)

• Financing Loan Scheme for SME

• iB Financing (Musyarakah) • iB Investment with Terms • iB Lending

Partnership • Loan for Heavy Equipment Financing Scheme

• iB Cash Guarantee

• Loan for Rice Supply

• iB K3A

• Loan for Sugar Financing Scheme

• iB KKPA

• Loan Scheme for Hiswana Migas’

• iB Hajj Pilgrimage

members • Loan to Cooperatives Employees for the

3. SERVICES

Purchase and Lease of Goods

• iB Safe Deposit Box (SDB)

• Pundi Loan Scheme

• Transfer

• Loan Scheme for Business Vehicle

• Payment Point Public Services

Ownership (KPKU)

• Clearing • Collection

2. Program LOAN

• Bank Guarantee

1. People Business Credit (KUR)

• RTGS (Real Time Gross System)

2. Scheme Credit Guarantee of the State Minister

• iB Sharf (Foreign Exchange) • iB SKBDN (Domestic Letter of Credit) • iB Remittance • iB Letter of Credit

of Cooperatives 3. Scheme Credit for Food and Energy Security (KKP-E) 4. Scheme Credit SU-005 5. Scheme Credit for Agricultural Financing (SP3)

4. FACILITIES AND MEANS OF TRANSACTION • SiAga ATM Card • SiAga Visa Electron Card • iB SMS Banking • iB Internet Banking • Phone Banking 14005


Awards and Acknowledgement of National and International In 1999: Asian Banking Award ’99 “Commercial Credit Product

Asian Bankers Association - Philippine

and Program” for the product, Swamitra InfoBank Award for Financial Performance with the

InfoBank Magazine

predicate of “Excellent”

In 2000: (15 September 2000) Second rank for the category of “Highest Return on

From 500 banks in Asia Pasific version Asiaweek

Equity” and “Largest Return on Assets”

Magazine

InfoBank Award for Financial Performance with the

InfoBank Magazine


In 2001: InfoBank Award for Financial Performance with the

InfoBank Magazine



InfoBank Magazine

predicate of “Excellent” “Banking Service Excellence Award” 2003 for prime

InfoBank Magazine

services “Banking Service Excellence Award” 2003 for prime

Marketing Research Indonesia (MRI)

services Certificate on the MP3 On-Line system to meet the

Directorate General of Tax, Department of Finance of

financial transaction standards as an acknowledgement

the Republic of Indonesia

of the reliability of Bank Bukopin’s technology Award as the “Best-III Host to Host Collecting Agent of

Telkom

2002”



InfoBank Magazine

predicate of “Excellent” Award as the Best Bank 2003 for the category of

Investor Magazine

commercial bank recap with assets in the range of Rp10 trillion - Rp50 trillion Top five private national bank safest forex, Pilar Bisnis

Pilar Bisnis Magazine

Magazine edition May 2003 Kapital Banking Award 2003 as “The Excellent Bank in

Kapital Magazine

Collecting Customer’s Fund Category Absolute Growth in Rupiah” Award as “Most Trustworthy Partner 2003 for the

The Indonesian Association of Pension Fund (ADPI)

Category of Private National Forex Commercial Bank” October 2003 Award as the “Best Host to Host Collecting Agent in

Telkom

2003” “Banking Service Excellence Award” 2003 for prime

InfoBank Magazine

services “Banking Service Excellence Award” 2003 for prime

Marketing Research Indonesia (MRI)

services

In 2004: InfoBank Golden Trophy 2004 for financial bank

InfoBank Magazine

performance with the predicate “Excellent” 1999-2003 Award in recognition for Bank Bukopin’s role

Department of Marine and Fisheries of RI

as a Financial Institution that Cares for Coastal Communities Award in recognition for Bank Bukopin as the Second Best Bank in the Credit Disbursement for the National Food Security in 2004


Department of Agriculture of RI

Islamic Banking Award 2004 for three categories,

Karim Business Consulting (KBC) in cooperation

namely the Amazing Achievement Award for Most

with Pusat Pengembangan Manajemen (PPM) and

Efficient Islamic Bank, the Outstanding Achievement

Manajemen Magazine

Award for Most Profitable Islamic Bank, and the Outstanding Achievement Award for Highest Financing Intermediary. Islamic Banking Quality Award 2004 for the

Ekonomi dan Bisnis Syariah Modal Magazines in

category of The Best Office Equipment and The Most

cooperation with Karim Business Consulting (KBC)

Comfortable Office


InfoBank Magazine

predicate of “Excellent” InfoBank Golden Trophy for Financial Performance

InfoBank Magazine

with the predicate of “Excellent” from year 2000 to 2004 Islamic International Banking Award for Bank Bukopin

Karim Business Consulting, Singapore 2005

Syariah in the Category of “The Fastest Funding Growth”


InfoBank Magazine


InfoBank Magazine

with the predicate of “Excellent” from year 2001 to 2005 Banking Service Excellence Award for Bank Bukopin’s

InfoBank Magazine and Marketing Research Indonesia

service as 6 Best Overall Performance

(MRI)

Indonesia Property Award 2006 as The Rising Star for

Property & Bank Magazine

th

Consumer Loan (KPR and KPA) Bisnis Indonesia Award 2006 as one of the Best

Bisnis Indonesia Daily

National Banks of 2006 Investor Syariah Award 2006 for the category of sharia

Investor Magazine

business unit with assets in the range of Rp100 billionRp500 billion



InfoBank Magazine


InfoBank Magazine

with the predicate of “Excellent” from 2002 to 2006

Banking Service Excellence Award for Bank Bukopin’s service as

6th

InfoBank MRI Magazine

Best Overall Performance

Banking Service Excellence Award for Bank Bukopin’s

InfoBank Magazine

service as 3rd Best Teller Service Quality and Satisfaction of Bank Customers in Jakarta 2007, fourth rank


Institute of Service Management Studies and InfoBank

Office Network HEAD OFFICE Jl. M.T. Haryono Kav. 50-51 Jakarta - 12770 P : (021) 7988266/7989837 F : (021) 7980625/7980238/7980244 Telex : 62487/66146/66087 BKOPIN IA Swift : BBUKIDJA IA www.bukopin.co.id

SUPPORTING BRANCH Kebayoran Baru Supporting Branch Jl. RS. Fatmawati No. 7 Blok A Kebayoran Baru, Jakarta 12140 P : (021) 7245577/7202392 F : (021) 7398600 Telex : 47824 Kebayoran Lama Supporting Branch Jl. Raya Kebayoran Lama No. 10 Jakarta Selatan 12220 P : (021) 7393737/2700579 F : (021) 2700578 Bintaro Supporting Branch Komplek Rukan Bintaro Sektor 3 A/A-16, 17, Jl. Bintaro Utama III A Pondok Aren, Tangerang 15225 P : (021) 7375174 - 76/79/80 F : (021) 7375587 Pondok Indah Supporting Branch Plaza V Pondok Indah Kav. A11 Jl. Marga Guna Raya Pondok Indah, Jakarta Selatan P : (021) 7396863/7396876 F : (021) 7396882 Cikokol Tangerang Supporting Branch Jl. Jend. Sudirman No. 1 Gedung PLN Cikokol, Tangerang P : (021) 5527060 F : (021) 55772841 Cikokol Tangerang Supporting Branch Ruko Golden Boulevard Blok. GI No. 2 Jl. Pahlawan Seribu Tangerang 15322 P : (021) 5371164 F : (021) 53160968

Bulog II Supporting Branch Gedung Diklat Bulog II Jl. Kuningan Timur, Blok M II No. 5 Jakarta Selatan 12950 P : (021) 5204262/66/85 F : (021) 5204265 S. Parman Supporting Branch Jl. S.Parman Kav. 80 Slipi, Jakarta Barat 11460 P : (021) 5604307-12 F : (021) 5359828 Rasuna Said Supporting Branch Gedung Departemen Koperasi Jl. HR. Rasuna Said Kav. 3-5 Jakarta 12940 P : (021) 5257903/52992762 F : (021) 5257908 Oil Center Thamrin Supporting Branch Gedung Oil Center Jl. M.H. Thamrin Kav. 55 Jakarta Pusat 10350 P : (021) 31900612 (Hunting) F : (021) 31902356 Roxy Mas Supporting Branch Jl. KH. Hasyim Ashari Kompleks ITC Roxy Mas Blok D3 No. 14 Cideng, Jakarta Pusat 10150 P : (021) 6339430/35/63858537 F : (021) 63858536 Gunung Sahari Supporting Branch Jl. Gunung Sahari Raya No. 86C Jakarta Pusat 10610 F : (021) 4257791 Telex : 54298

PTC Pulo Gadung Supporting Branch Gedung PTC Ruko Blok A1 No. 10 Jl. Raya Bekasi Kawasan Industri Pulo Gadung Jakarta Timur 13260 P : (021) 46800017 - 19 F : (021) 46800201 Tanjung Priok Supporting Branch Jl. Enggano No. 28 Tanjung Priok, Jakarta Utara 14310 P : (021) 4301915 - 16/43907181 F : (021) 4301917 Kelapa Gading Supporting Branch Jl. Boulevard Barat Raya Ruko Inkoppal Blok A No. 15 Kelapa Gading, Jakarta Utara P : (021) 45854592/93 F : (021) 4532864/45851024 Bekasi Kalimas Supporting Branch Ruko Niaga Kalimas Blok C-17 Jl. Inspeksi Kalimalang Bekasi Timur P : (021) 88357688/99 F : (021) 88357610 Citra Grand Cibubur Supporting Branch Jl. Alternatif Cibubur (Trans Yogie) Km. 4 Ruko Citra Grand Cibubur Blok R3 No. 37 Jatikarya Jatisampurna, Bekasi 17435 P : (021) 84591952/84592140 F : (021) 84591804 Margonda Depok Supporting Branch Jl. Margonda Raya No. 224C Kelurahan Kemiri Muka Kecamatan Beji, Depok 16431 P : (021) 7761145/1143 F : (021) 7760809


Pondok Gede Supporting Branch Plaza Pondok Gede Ruko Blok H No. 8 Jl. Raya Pondok Gede Jatiwaringin, Bekasi 17411 P : (021) 84990257/84990656/ 84998220/84998206 F : (021) 84995890 Cikarang Supporting Branch Komplek Sentra Cikarang Blok B4-5 Jl. Raya Cibarusah, Cikarang 17550 P : (021) 89908523 F : (021) 89908522 ABDA Supporting Branch Gedung ABDA Jl. Jend. Sudirman Kav. 59 No. 77 Lt. GF No. GF-D Blok A Senayan Keb. Baru, Jakarta selatan P : (021) 51401083 - 86 F : (021) 51401082 Melawai Supporting Branch Jl. Melawai Raya Kebayoran Baru No. 66 Jakarta Selatan 12160 P : (021) 72789683 F : (021) 72789708 CASH OFFICE Pasaraya Cash Office Gd. Mega Pasaraya Blok M Jl. Iskandarsyah Raya No. 2 Jakarta 12160 P : (021) 7227645 - 46 F : (021) 7227644 Peruri Cash Office Jl. Faletehan No. 2 Kebayoran Baru, Jakarta 12160 P : (021) 2702874 F : (021) 2702875 Al-Azhar Cash Office Komplek Masjid Agung Al-Azhar Jl. Sisingamaraja Kebayoran Baru Jakarta Selatan P : (021) 72794266 F : (021) 72794268 Jamsostek Cilandak Cash Office Gedung Jamsostek Cab. Cilandak Jl. RA. Kartini Kav. 13 Cilandak Barat, Jakarta Selatan 12430 P : (021) 7659789 F : (021) 7659669


PLN Bulungan CSW Cash Office Gedung PLN Bulungan CSW Jl. Sisingamaraja No. 1 Kebayoran Baru, Jakarta 12120 P : (021) 7244754 F : (021) 7244859

Bidakara Cash Office Gedung Menara Bidakara Jl. Gatot Subroto Kav. 71-73 Pancoran, Jakarta Selatan P : (021) 83700825 F : (021) 83700826

Kreo Cash Office Jl. Ciledug Raya No. 3A Kreo Ciledug, Tangerang P : (021) 73456220 F : (021) 73456220

Tebet Cash Office Jl. Tebet Barat Dalam Raya No. 153A Jakarta selatan P : (021) 83790423 F : (021) 83701728

PLN Ciledug Cash Office Jl. HOS. Cokroaminoto No. 1 Jakarta Selatan 15154 P : (021) 73449186 F : (021) 73449186

Gedung Gajah Cash Office Wisma Gajah Jl. Dr. Saharjo No. 11 Unit P & Q Jakarta Selatan P : (021) 83794966/83794988/ 8310573 F : (021) 8293835

Plaza Bintaro Jaya Cash Office Jl. Bintaro Utama III A Lt. 1 Blok H-4 Bintaro Jaya, Tangerang 15225 P : (021) 73690209 F : (021) 73690209 PLN Bintaro Cash Office Jl. MH Thamrin Blok B 7 Kav. A2 No. 17 Sentral Bisnis Distric Sektor VII Bintaro Jaya, Tangerang 15224 P : (021) 74861685 F : (021) 74861685 Cinere Cash Office Cinere Mall Lt. 1 Unit 33 Jl. Raya Cinere Jakarta Selatan P : (021) 7545173/7545083 F : (021) 7545083 Jamsostek Tangerang Satu Cash Office Jl. Perintis Kemerdekaan II Kav. 14 Cikokol, Tangerang P : (021) 5589761 F : (021) 5589761 PLN BSD Cash Office Gd. PLN AP Serpong Jl. Raya Serpong BSD Sektor 8 Serpong P : (021) 5372716 F : (021) 5372716 Jamsostek BSD Cash Office Ruko BSD Blok RS-38 Sektor IV Jl. GN. Rinjani III No. 5 Serpong, Tangerang P : (021) 5372960 F : (021) 5372960

Kalibata Cash Office Kalibata Mall Jl. Raya Kalibata Jakarta Selatan P : (021) 7988556 F : (021) 7901674 STEKPI Cash Office Gd. Kampus STEKPI Jl. TMP Kalibata Jakarta Selatan 12760 P : (021) 7902219 F : (021) 7902219 LIA Pengadegan Cash Office Kampus LBA LIA Jl. Pengadegan Timur No. 11 Jakarta Selatan P : (021) 7948701 F : (021) 7948701 Mampang Cash Office Gedung PLN AP Mampang Jl. Warung Buncit Raya No. 10 Jakarta Selatan P : (021) 79181662 F : (021) 79182934 Bandara Soekarno Hatta Cash Office Terminal I A9 Kedatangan Domestik No. 38 (A9P.38) Bandara Soekarno Hatta Cengkareng Jakarta 19110 P : (021) 5501452 F : (021) 5501452

Meruya Cash Office Jl. Raya Meruya Selatan No. 11 Kembangan, Jakarta Barat P : (021) 5862649 F : (021) 5866516

UNJ/IKIP Cash Office Gedung IKIP/UNJ Pasca Sarjana Jl. Rawamangun Muka Jakarta Timur P : (021) 47866151 F : (021) 47866152

Mitra Kemayoran Cash Office RS. Mitra Kemayoran Jl. Landasan Pacu Timur Kemayoran, Jakarta Pusat P : (021) 6545250 F : (021) 6545250

Billy Moon Cash Office Ruko Billy Moon Jl. Raya Kalimalang Blok M Kav. 3E Jakarta Timur P : (021) 8657137 F : (021) 8645506

PLN Cempaka Putih Cash Office Jl. Jend. Ahmad Yani Kav. 60 Bypass (Kantor PLN AP Cempaka Putih) Jakarta Pusat P : (021) 4261212 F : (021) 4261212

RS. MMC Cash Office

Dolog Jaya Cash Office

Jl. HR. Rasuna Said Kav. C20-21 Kuningan, Jakarta 12940 P : (021) 5202615 F : (021) 5202616

Gedung Dolog Jaya Jl. Perintis Kemerdekaan Jakarta 14220 P : (021) 4502967/4501540 ext.510 F : (021) 4502967

RS. Mitra Keluarga Kelapa Gading Cash Office Gedung RS Mitra Keluarga Kelapa Gading Jl. Bukit Gading No. 2 Kelapa Gading, Jakarta Utara P : (021) 4582666/45852700 ext. 1057 F : (021) 4582666

Univ. Indonusa Esa Unggul Cash Office Gedung Universitas Indonusa Esa Unggul Jl. Terusan Arjuna Tol Tomang Kebon Jeruk, Jakarta Barat P : (021) 5674223 ext. 247 F : (021) 5682569

PLN Cideng Cash Office Jl. Cideng Timur No. 61 Cideng, Jakarta Pusat 10150 P : (021) 3504673 F : (021) 3504673 RSPAD Cash Office Jl. Abdul Rachman Saleh No. 24 Jakarta Pusat 10410 P : (021) 3501316 F : (021) 3501316 BPPT Cash Office Jl. MH. Thamrin No. 8 Jakarta Pusat P : (021) 3103540/13 F : (021) 3103540 PLN Jatinegara Cash Office Jl. Jatinegara Timur No. 75 Jakarta Timur P : (021) 8517275 F : (021) 8517275 Fakultas Kedokteran UI Cash Office Jl. Salemba Raya No. 6 Jakarta Pusat P : (021) 3923771 F : (021) 3923756 Pulo Lentut Cash Office Jl. Pulo Lentut Blok E II No. 3 Kawasan Industri Pulo Gadung Jakarta Timur 13260 P : (021) 4609249 - 50/4604032 F : (021) 4604031

RS. Persahabatan Cash Office Gedung Griya Puspa Jl. Persahabatan Raya No. 1 Jakarta Timur P : (021) 47882484 F : (021) 47882483 PLN Sunter Cash Office Jl. Yos Sudarso Kav. 85 Sunter, Jakarta Utara P : (021) 65303328 F : (021) 65303328 Humpus Cash Office Jl. Medan Merdeka Timur No. 16 Jakarta Pusat P : (021) 3518538/33 F : (021) 3518543 Jamsostek Kebon Sirih Cash Office Gedung Jamsostek Kebon Sirih Jl. Wahid Hasyim No. 94 Jakarta Pusat P : (021) 3916140 F : (021) 3916140 Jamsostek Gambir Cash Office Gedung Bank Liman Jl. Ir. H. Juanda No. 12 Jakarta Pusat P : (021) 3504268 F` : (021) 3504268

Bekasi Timur Cash Office Komplek Ruko Juanda Elok No. 15 Jl. IR. H. Juanda Bekasi Timur P : (021) 8828269/8800479 F : (021) 8828270 Bekasi Barat Cash Office Jl. A. Yani Blok A3 No. 5 Bekasi Barat P : (021) 8853010 F : (021) 88852505 UNISMA Bekasi Cash Office Kampus Universitas Islam 45 Bekasi Jl. Cut Meutia No. 83 Bekasi P : (021) 88344607 - 08 F : (021) 88344607 PLN Bekasi Kota Cash Office Kantor PLN Jl. Cut Meutia No. 44 Bekasi Timur P : (021) 88346765 F : (021) 88357234 Cibubur Cash Office Jl. Lapangan Tembak Ruko Cibubur Indah Blok B-17 Cibubur, Jakarta Timur P : (021) 8726820/8717720 F : (021) 8717720


FTUI Cash Office Fakultas Teknik Universitas Indonesia, Depok 16424 P : (021) 78849091 F : (021) 78849092

Al-Azhar Mujaer Payment Point Office TK/SD Al-Azhar Jl. Mujair No. 1 Pasar Minggu, Jakarta Selatan P : (021) 7818125

PLN AP Lenteng Agung Cash Office Jl. Raya Tanjung Barat No. 55 Jakarta Selatan 12610 P : (021) 78843985 F : (021) 78843985

Jamsostek Kalideres Payment Point Office Jl. Daan Mogot KM. 14 No. 6 D-E Ruko Naga Kencana Sakti Kalideres, Jakarta Barat P : (021) 54374340 - 41 F : (021) 54374341

Perum Perumnas Cash Office Gedung Perum Perumnas Jl. D.I. Panjaitan Kav. 11 Jakarta Timur P : (021) 8584772 F : (021) 8584771 RS. Harapan Bunda Cash Office Jl. Raya Bogor Km. 22 No. 44 Pasar Rebo, Jakarta Timur P : (021) 8407325 F : (021) 8407321 PLN Kramat Jati Cash Office Gd. PLN AP Condet Jl. Raya Bogor Km. 20 No. 19 Jakarta Timur P : (021) 80886225 F : (021) 80886227 PLN Pondok Gede Cash Office Jl. Raya Jati Makmur No. 150 Bekasi P : (021) 84973388 F : (021) 84973389 PAYMENT POINT OFFICE Al-Azhar Bintaro Payment Point Office Jl. Bonjol No. 9 Bintaro, Jakarta Selatan P : (021) 7359473 F : (021) 7359473 Al-Azhar Pejaten Payment Point Office SMP/SMU Al-Azhar Jl. Siaga Raya Pejaten Barat Jakarta Selatan P : (021) 79192276


PLN Kosambi Payment Point Office Jl. Lingkar Luar Barat Duri Kosambi Cengkareng, Jakarta Barat P : (021) 54351968 F : (021) 54351969 PLN Kebon Jeruk Payment Point Office Pertokoan Intercon Jl. Meruya Ilir Raya Blok A IX No. 7-8 Jakarta Barat 11520 P : (021) 5854605 F : (021) 5862358 PLN Bandengan Kota Payment Point Office Jl Bandengan Utara No. 79 Jakarta Utara 14440 P : (021) 6630964/6611814 F : (021) 6630964 Fiskal Payment Point Office Terminal F Keberangkatan Bandara Soekarno Hatta Cengkareng 19110 P : (021) 5503071 Jamsostek ST. Budi Payment Point Office Gedung Menara Jamsostek Jl. Gatot Subroto No. 79 ST. Budi, Jakarta Selatan Jamsostek Mangga Dua Payment Point Office Jl. Mangga Dua Raya Ruko Grand Butik Center Blok C-5 Jakarta Utara P : (021) 6128736 F : (021) 6128736

Jamsostek Pulo Gadung Payment Point Office Gedung Astra Argo Lestari Jl. Pulo Ayang Raya Blok OR1 Kawasan Industri Pulo Gadung Jakarta Timur P : (021) 46824718 F : (021) 46824718 PLN Area Kali Malang Payment Point Office Gedung PLN Area Kalimalang Jl. Raden Intan No. 10A Jakarta Timur P : (021)8652143 F : (021) 8652169 Jamsostek Cilincing Payment Point Office Jl. Kramat Jaya No. 22B-22C Kecamatan Koja, Jakarta Utara P : (021) 43900617 F : (021) 43900617 Jamsostek Bogor II Cileungsi Payment Point Office Jl. Raya Cileungsi Jonggol Km. 1 No. 6 Gedung Jamsostek Bogor II Cileungsi, Kabupaten Bogor P : (021) 82495633/82495627 F : (021)82495627

PICK UP SERVICE 1. 2. 3. 4.

Sekolah TK Pembangunan Jaya Sekolah SD Pembangunan Jaya Sekolah SMP Pembangunan Jaya Sekolah SMA Pembangunan Jaya

MAIN BRANCH OFFICE Balikpapan Branch Komplek Balikpapan Permai Jl. Jend. Sudirman No. 23, Balikpapan 76114 P : (0542) 427779 (hunting) F : (0542) 427774 Supporting Branch Karang Jati Supporting Branch Jl. Jend. A. Yani No. 499, Rt. 14 Karang Jati, Balikpapan P : (0542) 424242 F : (0542) 735817

Banda Aceh Branch Jl. Tgk HM Daud Beureueuh No. 19 Banda Aceh 23122 P : (0651) 22011 (hunting) /22131 F : (0651) 31060 Telex : 54155 BUKI BA IA Supporting Branch Mohd. Jam Supporting Branch Jl. Mohd. Jam No. 39 Banda Aceh 23242 P : (0651) 29380 Cash Office Prada Cash Office Jl. Tgk. Nyak Arief No. 238 Banda Aceh 23112 P : (0651) 555660 Neusu Cash Office Jl. Hasan Saleh No. 95 Banda Aceh 23124 P : (0651) 635461 Bandar Lampung Branch Jl. Wolter Monginsidi No. 75, Teluk Betung, Bandar Lampung 35211 P : (0721) 486066 F : (0721) 483178 Telex : 26268 Supporting Branch Diponegoro Supporting Branch Jl. Diponegoro No. 18/179 Kelurahan Gotong Royong Bandar Lampung 35119 P : (0721) 251715/251794 F : (0721) 253476 Teluk Betung Supporting Branch Jl. Hasanudin No. 107 Teluk Betung, Bandar Lampung 53522 P : (0721) 489701/489702 F : (0721) 482120 Capem Kalianda Jl. Kesuma Bangsa No. 39 Kalianda, Lampung Selatan 35551 P : (0727) 322787/322789 F : (0727) 322786 Cash Office Dolog Cash Office Jl. Cut Mutia No. 29, Bandar Lampung 35214 P : (0721) 485795

UNILA Cash Office Gedung Meneng (UNILA) Jl. Soemantri Brojonegoro No. 1 Bandar Lampung P : (0721) 7470692

Setia Budhi Supporting Branch Jl. Setia Budhi No. 170 B1-2 Bandung P : (022) 2034777 F : (022) 2034998

Darmajaya Cash Office Kampus STMIK Darmajaya Jl. Zainal Abidin Pagar Alam No. 93 Labuhan Ratu Kedaton Bandar Lampung P : (0721) 773703

Buah Batu Supporting Branch Jl. Buah Batu No. 231A Bandung P : (022) 7317421 F : (022) 7309440

Payment Point Diponegoro Supporting Branch Jl. Diponegoro No. 18/179 Kel. Gotong Royong, Bandar Lampung 35119 P : (0721) 251715/251794 F : (0721) 253476 Satu kantor/lokasi dengan kantor capem Diponegoro Dolog Cash Office Jl. Cut Mutia No. 29, Bandar Lampung 35214 P : (0721) 485795 Satu kantor/lokasi dengan kantor kas Dolog Darmajaya Cash Office Kampus STMIK Darmajaya Jl. Zainal Abidin Pagar Alam No. 93 Labuhan Ratu, Bandar - Kedaton Lampung P : (0721) 773703 Satu kantor/lokasi dengan kantor kas Darmajaya Bandung Branch Jl. Sumatera No. 23 Bandung 4011 P : (022) 4234569 (hunting) F : (022) 4235081 Telex : 28603 BKOPIN A Supporting Branch Caringin Supporting Branch Jl. Soekarno Hatta No. 234 Pasar Induk Caringin Kav. A1 3-4 Bandung 40286 P : (022) 5413600, 5413700 F : (022) 5413800

Bandung Electronic Center (BEC) Supporting Branch Jl. Purnawarman No. 13 - 15 Bandung P : (022) 4208358 F : (022) 4208357 Antapani Supporting Branch Jl. Terusan Jakarta No. 53P Bandung P : (022) 7209006 F : (022) 7205943 Cash Office Dolog Jabar Cash Office Jl. Soekarno Hatta No. 711A Bandung 40286 P : (022) 7307052 Pangalengan Cash Office Gd. KPBS Pangalengan Jl. Raya Pangalengan No. 340 Pangalengan, Bandung 40378 P : (022) 5979101, 5979102 F : (022) 5979200 IKOPIN Cash Office (Gedung IKOPIN) Jl. Raya Jati Nangor Ujung Berung Km 20,5, Bandung P : (022) 7797687 F : (022) 7794608 Banjarmasin Branch Jl. Pangeran Samudera No. 4 Banjarmasin 7011 P : (0511) 3357171 F : (0511) 4365774 Telex : 39171


Supporting Branch Banjarbaru Supporting Branch Jl. A. Yani Km 36 No. 24, Rt. 13 Banjarbaru 70700 P : (0511) 4781962/ 4772949/4772091/4773870 F : (0511) 4773688 Kuripan Supporting Branch Jl. Kuripan No. 3 Rt. 9 Banjarmasin 70236 P : (0511) 3263914/3270127 F : (0511) 3270034 Cash Office Dolog Cash Office Gedung Dolog Jl. Jend. A. Yani Km. 6 Banjarmasin 70249 P : (0511) 3263664 F : (0511) 3263664 STIE Indonesia Cash Office Gedung STIE Indonesia Jl. Kayu Tangi No. 9 Banjarmasin 70123 P : (0511) 3307570 F : (0511) 3307569 Sentra Antasari Cash Office Komplek Pertokoan Sentra Antasari Lantai 1 Blok A No. 002/003 Banjarmasin 70234 P : (0511) 3254849 F : (0511) 3255659 Payment Point Pelindo III Payment Point Jl. Barito Hilir No. 6 PelabuhanTri Sakti, Banjarmasin P : (0511) 7475001 BATAM Branch Jl. Sultan Abdul Rahman No. 1 Komplek Sulaiman Blok A No. 7 & 8 Nagoya, Batam 29444 P : (0778) 458 725 (hunting) F : (0778) 458 750 Supporting Branch Penuin Supporting Branch Komplek Pertokoan Citra Mas Baloi Blok A No. 22 Penuin, Batam 29436 P : (0778) 429 929, 433680 F : (0778) 429 927


Batam Center Supporting Branch Komplek Perumahan Citra Indah Blok A3 No.8 Batam Center Batam 29421 P : (0778) 468 749, 469044 F : (0778) 468 750

Supporting Branch

Batu Aji Supporting Branch Kompleks Sagulung Mas Indah Blok B No. 4 Sagulung, Batam 29422 P : (0778) 393 062, 392934 F : (0778) 393 062

Tangerang Supporting Branch Jl. Merdeka No. 50 Grendeng, Tangerang P : (021) 55760424 - 26 F : (021) 55760427

Bogor Branch Jl.Ir. H. Juanda No. 36 Bogor 16122 P : (0251) 363636 (hunting) F : (0251) 315646 Supporting Branch Cibinong Supporting Branch Ruko Centra Cibinong Blok 12A & 12B, Jl. Mayor Oking Jayatmaja No. 63, Ciriung Cibinong P : (021) 8790 2949 - 50 F : (021) 87903267 Cash Office RS PMI Cash Office RS Palang Merah Indonesia Bogor Jl. Raya Pajajaran No. 80 Bogor P : (0251) 362020 F : (0251) 361044 Warung Jambu Cash Office Komplek Ruko Warung Jambu No. A11 Jl. Raya Padjajaran Bogor P : (0251) 350 888/385888 F : (0251) 387582 Jamsostek Cash Office Jl. Pemuda No. 8A Tanah Sareal, Bogor P : (0251) 362626 F : (0251) 358929 Cilegon Branch Jl. Sultan Ageng Tirtayasa No. 17 Cilegon P : (0254) 386460 - 386461 F : (0254) 386459

Serang Supporting Branch Jl. Mayor Syafe’I No. 57 Serang P : (0254) 213231 F : (0254) 213615

Cash Office Anyer Cash Office Jl. Raya Sirih 13 Pasar Anyer, Serang P : (0254) 602145 Merak Cash Office Jl. Raya Pelabuhan Merak No. 78 Cilegon P : (0254) 572424 F : (0254) 572424 Jamsostek Balaraja Cash Office Komplek Citra Raya Jl. Boulevard Blok K 1 No. 28 Ruko Citra Raya Cikupa Tangerang P : (021) 5961155 F : (021) 5961155 RS Krakatau Medika Cash Office Komplek Krakatau Steel RS. Krakatau Medika Jl. Semang Raya Cilegon P : (0254) 384154 F : (0254) 384154 Cirebon Branch Jl. Dr. Cipto Mangunkusumo No. 101 Cirebon 45115 P : (0231) 230707 (hunting) F : (0231) 230606 Telex : 28129 Supporting Branch Plered Supporting Branch Jl. Raya Cirebon - Bandung No. 9B Cirebon 45154 P : (0231) 323658 F : (0231) 323658

Indramayu Supporting Branch Jl. Jend. Sudirman No. 29A Indramayu, Cirebon 45212 P : (0234) 272307 F : (0234) 272306 Kuningan Supporting Branch Jl. Siliwangi No. 65 Kuningan, Jawa Barat 45512 P : (0232) 872007 F : (0232) 872006 Payment Point Jamsostek Payment Point Jl. Evakuasi No. 11B Cirebon 45135 P : (0231) 485660 ext. 315/ 490580 Denpasar Branch Jl. Dewi Sartika blok 1 ABC Denpasar 80114 P : (0361) 232842 (hunting) F : (0361) 235005 Telex : 23523

Jember

Kupang

Branch Jl. Gadjah Mada 59/59A Jember P : (0331) 482043 (hunting) F : (0331) 482204

Branch Jl. Tompello No. 04 Kupang 85112 P : (0380) 833647 F : (0380) 831622 Telex : 35570

Cash Office Bondowoso Cash Office Jl. Veteran 3 Bondowoso P : (0332) 424542; 424621 F : (0332) 424531 Karawang Branch Jl. Ahmad Yani No. 92 Karawang P : (0267) 404545/404646 F : (0267) 404567

Supporting Branch

Cash Office Teluk Jambe Cash Office Jl. Raya Teluk Jambe No. 5 Karawang 41361 P : (0267) 644545/644646 F : (0267) 644567

Kreneng Supporting Branch Jl. Kamboja No. 41 Denpasar 80232 P : (0361) 237221/235922 F : (0361) 237662

Cikampek Cash Office Jl. Terminal No. 148 Cikampek, Karawang 41373 P : (0264) 304545/304646 F : (0267) 304567

Kuta Supporting Branch Jl. Raya Kuta No. 323 Kuta 80361 P : (0361) 761895/761897

PLN Karawang Kota Cash Office Jl. Kertabumi No. 136 Karawang P : (0267) 414545 F : (0267) 414545

Kediri Supporting Branch Jl. A. Yani No. 9 Kediri Tabanan, Bali 81221 P : (0361) 810817/810819 Cash Office Gunung Agung Cash Office Jl. Gunung Agung No. 70 Denpasar P : (0361) 427682 Jambi Branch Jl. Halim Perdana Kusuma No. 40-42 Jambi 36124 P : (0741) 7553355 F : (0741) 7553354

Payment Point Payment Point PLN Cikampek Jl. Ir. H Juanda Cikampek P : (0264) 316468 PLN Kosambi Payment Point Jl. Raya Kosambi No. 22 Karawang P : (0267) 433872 PLN Rengas Dengklok Payment Point Jl. Raya Rengas Dengklok No. 17 Karawang P : (0267) 480265

Cash Office Naikoten I Sylvia Hotel Cash Office Jl. Jend. Soeharto No. 53 Kupang 85118 P : (0380) 823184 PUSKUD Cash Office Gd. Puskud NTT Jl. Arief Rahman Hakim No. 1 Walikota, Kupang 85228 P : (0380) 830352 Payment Point Unkris Payment Point Universitas Kristen Artha Wacana Jl. Adi Sucipto Penfui Kupang 85361 P : (0380) 8081337/8081330 Pick Up Service Wartel Kopegtel Pick Up Service Jl. Urip Sumoharjo Kupang P : (0380) 831000 Wartel Kopegtel Pick Up Service Jl. Timor Raya Kupang P : (0380) 882116 Toko Buku Semangat Pick Up Service Jl. Jend. Sudirman Kupang P : (0380) 831034 Balai Pengobatan Advent Pick Up Service Jl. Jend. Soeharto Kupang P : (0380) 832016 SD Muhammadiyah Pick Up Service Jl. Gunung Mutis Kupang P : (0380) 832733 CV Gunung Mas Pick Up Service Jl. Pulau Indah Kupang P : (0380) 829848


Toko Trisakti Pick Up Service Jl. Jend. Sudirman Kupang P : (0380) 831008 PT. Priston Travel Pick Up Service Jl. Bakti Karya No. 1 Kupang P : (0380) 829822 STIMIK Pick Up Jl. Adi Sucipto Penfui Kupang P : (0380) 8016905 Flobamora Mall Pick Up Service Jl. W.J. Lalamentik Kupang P : (0380) 840301 Makasar Branch Jl. Slamet Riyadi No. 2 Makassar 9011 P : (0411) 320740 F : (0411) 320747 Telex : 71568 BKOPIN IA Supporting Branch Pangkep Supporting Branch Jl. Kemakmuran No. 53 Kabupaten Pangkep, Makassar P : (0410) 22454 F : (0410) 22454 Panakukang Supporting Branch Jl. Pengayoman Ruko Mirah II-20 Panakukang, Makassar P : (0411) 452991 F : (0411) 452826 Cendrawasih Supporting Branch Jl. Cendrawasih No. 155 Makassar P : (0411) 854666 F : (0411) 854222 Cash Office Dolog Cash Office, Gedung Bulog Jl. A.P. Pettarani Makassar P : (0411) 872853 F : (0411) 872853 BPLP Cash Office Jl. Tentara Pelajar No. 173 Makassar P : (0411) 327113 F : (0411) 327113


Semen Tonasa Cash Office Gedung Kantor Semen Tonasa Lt. 1 Kec. Minasa Tone, Kab. Pangkep P : (0410) 310056 F : (0410) 310056 Malang Branch Jl. Semeru No. 35 Malang 6511 P : (0341) 365709 F : (0341) 365820 Supporting Branch Pasuruan Supporting Branch Jl. Pahlawan 11A Pasuruan P : (0343) 429203 F : (0343) 429205 Kepanjen Supporting Branch Jl. Kawi No. 37 Blok A-6 Kepanjen P : (0341) 393662 F : (0341) 393691 Cash Office Blimbing Cash Office Jl. Letjend. S. Parman 122A Malang P : (0341) 406155 F : (0341) 490274 Batu Cash Office Jl. Diponegoro 16 Batu, Malang P : (0341) 598094 F : (0341) 598093 Dinoyo Cash Office Jl. Tlogomas 61J Malang P : (0341) 557921 F : (0341) 557921 Payment Point Payment Point Malang Jl. Semeru 35 Malang P : (0341) 365709 F : (0341) 365820

Manado Branch Jl. Piere Tendean Komplek Mega Mas Blok I A1 No. 26 Manado, Sulawesi Utara 9511 P : (0431) 879777/879725 /879456 F : (0431) 875999 Cash Office Calaca Cash Office Jln. Sisingamangaraja No. 7 Manado P : (0431) 841669 F : (0431) 841669 Mataram Branch Jl. Pejanggik No. 24B Cakranegara Mataram - 83115 Nusa Tenggara Barat P : (0370) 63511 F : (0370) 637807 Medan Branch Jl. Gadjah Mada No. 23B Medan 20153 P : (061) 4152245/4529266 /4150453 F : (061) 4529228 Telex : 51450 Supporting Branch AR Hakim Supporting Branch Jl. Arief Rahman Hakim No. 92B, Medan P : (061) 7356447/7360023 F : (061) 7346463 Binjai Supporting Branch Jl. Sudirman No. 99 Binjai P : (061) 8828927/8829685 F : (061) 8828927 Graha Telkom Supporting Branch Jl. Putri Hijau No. 1 Medan P : (061) 4530299/4530412 /4524777 F : (061) 4530352

Cash Office UMSU Cash Office Jl. Gedung Arca No. 53 Medan 20217 P : (061) 7343815 Telex : 25342 Dolog Cash Office Jl. Gatot Subroto No. 180 Medan 20118 P : (061) 8451433 RSU Pirngadi Cash Office Jl. M. Yamin No. 47 Medan 20234 P : (061) 4571641/4574751 F : (061) 4573853 RSU Adam Malik Cash Office Jl.Bunga Lau No. 17 Medan P : (061) 8365778 PLN Cash Office Jl. Listrik No. 8 Medan P : (061) 4579055 Setia Budi Cash Office Jl. Setia Budi No. 5 Medan 20118 P : (061) 8222517 F : (061) 8222518 Medan Fair Cash Office Jl. Gatot Subroto No. 30 Medan 20118 P : (061) 4140644/4140554 F : (061) 4140624 Payment Point Payment Point Jamsostek Binjai Jl. Soekarno Hatta No. 121 Medan P : (061) 8829959 TANJUNG PINANG Tanjung Pinang Jl. Ketapang No. 609 I, J, K Tanjung Pinang 29112, Kelurahan Kamboja Propinsi Kepulauan Riau P : (0771) 27700 (hunting) F : (0771) 27600/28100/312244

Padang Branch Jl. Jend. Sudirman No. 4 Padang 25113 P : (0751) 31821 F : (0751) 32073 Telex : 55237 Supporting Branch M. Yamin Supporting Branch Jl. Prof. M. Yamin No. 129 Padang P : (0751) 38695/38382 F : (0751) 22544 Tabing Supporting Branch Jl. Prof. Dr. Hamka No. 121 Padang P : (0751) 7052983/705303 UPI Supporting Branch Jl. Raya Lubuk Begalung Kampus UPI - YPTK P : (0751) 777610 F : (0751) 777610 Cash Office Bung Hatta Cash Office Jl. Sumatera Ulak Karang Kampus UBH Padang P : (0751) 7055575 PLN Rayon Belanti Cash Office Kantor PLN Rayon Belanti Jl. Khatib Sulaiman No. 44 P : (0751) 7057953

Cash Office Dolog Cash Office (Gedung Dolog) Jl. Perintis Kemerdekaan No. 1 Palembang 30114 P : (0711) 713262/716545 F : (0711) 716545 Ilir Barat Permai Cash Office Komplek Ilir Barat Permai Blok D1 No. 58 Kel. 24 Ilir Kec. Ilir Barat I Palembang P : (0711) 310826/352549 F : (0711) 310826 Pare-pare Branch Jl. Andi Makkasau No. 59F Parepare, Sulawesi Selatan 91133 P : (0421) 27799 F : (0421) 27766 Supporting Branch Sidrap Supporting Branch Jl. A.Yani No. 23 Pangkajene, Kabupaten Sidrap 91611 P : (0421) 96556 F : (0421) 96553 Pekanbaru Branch Jl. Jend. Sudirman No. 420-422 Pekanbaru, Riau 28000 P : (0761) 43997 F : (0761) 43897 Telex : 56256 BKOPIN IA

Palembang

Supporting Branch

Branch Jl. Kapten A. Rivai No. 5 Palembang 30129 P : (0711) 372727/372883/ 372884 F : (0711) 372876/369721 Telex : 48064

Hangtuah Supporting Branch Jl. Hangtuah No. 87 Pasar Sail, Pekanbaru P : (0761) 34165 F : (0761) 34217

Supporting Branch 16 Ilir Supporting Branch Jl. Masjid Lama No.169, 17 Ilir Palembang P : (0711) 321918/321828 F : (0711) 321838

Cash Office Tambusai Cash Office Jl. Tambusai No. 14 Pekanbaru P : (0761) 62384 F : (0761) 63189 Rumbai Cash Office Komplek Perkantoran Main Office Chefron, Rumbai P : (0761) 592485


PLN Sutomo Cash Kantor PLN Sutomo Jl. Dr. Sutomo No. 69 Pekanbaru P : (0761) 853435 F : (0761) 853433 Payment Point Hangtuah Payment Point Jl. Hangtuah No. 87 Pasar Sail, Pekanbaru P : (0761) 34165 F : (0761) 34217 Pontianak Branch Jl. Ir. H. Juanda No. 55-56 Pontianak 78117 P : (0561) 745025 (hunting) F : (0561) 734253 Supporting Branch Sultan Muhammad Supporting Branch Jl. Sultan Muhammad No. 48 Pontianak 78117 P : (0561) 730001/730077 F : (0561) 730132 Cash Office Kantor PLN Jl. Adi Sucipto Km. 7,5 Pontianak P : (0561) 730001/730077 F : (0561) 730132 Probolingo Branch Jl. Soekarno Hatta No. 58 Probolinggo 67219 P : (0335) 436888/436889 F : (0335) 436988 Purwokerto Branch Pertokoan Nusantara Jl. Jend. Sudirman Ruko Nusantara No. 1 Purwokerto 53115 P : (0281) 624038 (hunting) F : (0281) 621963 Supporting Branch Purbalingga Supporting Branch Jl. Ahmad Yani No. 5 Blok I Purbalingga 53312 P : (0281) 893354


Samarinda Branch Jl. Jend Sudirman No. 1 Samarinda 7511 P : (0541) 732050 F : (0541) 732052 Telex : 38277 Supporting Branch A. Yani Supporting Branch Jl. Ahmad Yani No. 88C Samarinda 7511 P : (0541) 745484/748876 F : (0541) 746613 Semarang Branch Pandanaran Jl. Pandanaran No. 125 Semarang 50241 P : (024) 8412132 F : (024) 8414081 Telex : 22630 BUKISM IA Supporting Branch Salatiga Supporting Branch Atrium Plaza Ruko No. 8 Jl. Jend. Sudirman Salatiga 50712 P : (0298) 312755 F : (0298) 315049 Cash Office Candi Plaza Cash Office Jl. Sultan Agung No. 90A Semarang P : (024) 8313545 Gedung PIP Cash Office Jl. Singosari No. 2A Semarang 50242 P : (024) 8317239 Kantor Kas Gedung Puskud Jeteng Jl. Abdurrahman Saleh No. 11 Semarang 50145 P : (024) 7614186 Gedung Pelindo III Cash Office Jl. Coaster No. 10 Semarang 50177 P : (024) 3567833 Gedung Dolog Jateng Cash Office Jl. Menteri Supeno I No. 1 Semarang 50243 P : (024) 8312894

Srondol Cash Office Ruko Srondol Duta Asri Jl. Perintis Kemerdekaan No.178D Srondol, Semarang 50269 P : (024) 7498220 Universitas Kristen Satya Cash Office Jl. Diponegoro No. 52-60 Salatiga 50711 P : (0298) 316003 F : (0298) 316004 Solo Branch Jl. Sudirman No. 10 Solo 5711 P : (0271) 665252 (hunting) F : (0271) 669292 Telex : 25342 Supporting Branch Boyolali Supporting Branch Jl. Pandanaran Ruko C2- D2 Boyolali 57316 P : (0276) 321283 F : (0276) 321282 Klaten Supporting Branch Jl. Pemuda Utara No. 82 Klaten 57414 P : (0272) 321835 F : (0272) 322522 Sragen Supporting Branch Jl. Raya Sukowati No. 170 Sragen 57211 P : (0271) 890979 F : (0271) 890978 Slamet Riyadi Supporting Branch Jl. Slamet Riyadi No. 183 Solo 57151 P : (0271) 642457 F : (0271) 646320 (posisi menjadi capem thn 2007) Cash Office Singosaren Cash Office Jl. Slamet Riyadi No. 183 Solo 57151 P : (0271) 651406 F : (0271) 651406 Palur Cash Office Jl. Raya Solo Palur No. 18 Palur, Solo 57151 P : (0271) 825749 F : (0271) 825749

RS Islam (Yarsis) Rumah Sakit Islam (Yarsis) Cash Office Jl. A.Yani Pabelan Kartosuro Sukoharjo, Solo 57161 P : (0271) 729817

Darmo Supporting Branch Jl. Raya Darmo No. 30 Surabaya 60265 P : (031) 5618158/5618160 F : (031) 5618157

RS. Panti Waluyo Cash Office Jl. Ahmad Yani No. 1 Solo P : (0271) 737214

Mojokerto Supporting Branch Jl. Jaya Negara No. 17 Kav. 2 Komplek Puri Mojopahit Mojokerto 61231 P : (0321) 329331/329332 F : (0321) 329330

Payment Point Payment Point Kampus UMS Kampus Universitas Muhammadiyah Surakarta (UMS) Jl. Ahmad Yani Pabelan, Surakarta P : (0271) 730280 F : (0271) 730280 Payment Point Gedung PLN Komplex gedung PLN Surakarta Jl. Slamet Riyadi No. 408 Surakarta, Solo P : (0271) 722091/7002844 Surabaya Branch Jl. Raya Gubeng No. 11 Surabaya 60281 P : (031) 5013270 (hunting) F : (031) 5013269 Telex : 31785 Supporting Branch Sidoarjo Supporting Branch Jl. A. Yani No. 27 Sidoarjo 61212 P : (031) 8921082/8921091 F : (031) 8921871 Gresik Supporting Branch Komplek Pertokoan Multi Sarana Plaza Blok A No. 4 Jl. Gubernur Suryo Gresik 6118 P : (031) 3985571/3987978 F : (031) 3981562 Dolog Jatim Supporting Branch Jl. A. Yani No. 146 - 148 Surabaya 60231 P : (031) 8287576/8287577 /8292439 F : (031) 8292338

Perak Supporting Branch Jl. Perak Barat No. 61 Surabaya 60177 P : (031) 3540533/3540534 F : (031) 3537223 Mayjen Sungkono Komplek Supporting Branch Darmo Park I Blok II No. 4 Jl. Mayjend. Sungkono Surabaya 60256 P : (031) 5667257/5680816 F : (031) 5667267 Mulyosari Supporting Branch Jl. Mulyosari No. 152 Surabaya 60113 P : (031) 5911466 F : (031) 5923518 Cash Office Kantor Kas RS. Mitra Keluarga Jl. Satelit Indah II Darmo Park Satelit Surabaya 60187 P : (031) 7346453 F : (031) 7346453 Jamsostek Sidoarjo Cash Office Jl. Pahlawan Komplek Perumahan Taman Pinang Blok A2 No. 1-4 Sidoarjo P : (031) 8945592 Jamsostek Perak Cash Office Jl. Perak Timur No. 82 Surabaya 60164 P : (031) 70312192 Jamsostek Gresik Cash Office Jl. Dr. Wahidin Sudiro Husodo No. 121 Gresik 61121 P : (031) 3990618

Tasikmalaya Branch Jl. Sutisna Senjaya 72 Tasikmalaya P : (0265) 340800 F : (0265) 312872 Cash Office Ciamis Cash Office Jl. Jend. Sudirman 41 P : (0265) 778171 F : (0265) 778170 Tegal Branch Jl. Gadjah Mada No. 113 Tegal 52112 P : (0283) 340100 F : (0283) 340123/324280 Yogyakarta Branch Jl. P. Diponegoro 99/11 Yogyakarta 55232 P : (0274) 513531 (hunting) F : (0274) 513510 Telex : 25253 Supporting Branch Kaliurang Supporting Branch Jl. Kaliurang Km. 5 No. 97 Sleman, Yogyakarta 55281 P : (0274) 565713/565714 F : (0274) 565269 Suryotomo Supporting Branch Jl. M. Suryotomo No. 23 Yogyakarta P : (0274) 561191/586278 F : (0274) 561191 Bantul Supporting Branch Jl. Jend. Sudirman No. 120 Bantul, Yogyakarta P : (0274) 367023 F : (0274) 367023 Cash Office Dolog Cash Office Gedung Dolog DIY Jl. Suroto No. 6 Yogyakarta P : (0274) 561095 F : (0274) 561095


Sharia Bukit Tingi

Payment Point Akprind Kampus Akprind Jl. Kalisahak No. 28 Yogyakarta P : (0274) 546417

Kusumanegara Cash Office Hotel Bumi Asih Jl. Kusumanegara No. 70 Yogyakarta P : (0274) 387645 F : (0274) 387645

Branch Jl. Perintis Kemerdekaan No. 16 Bukit Tinggi P : (0752) 627420 F : (0752) 627421

Payment Point STTNAS Kampus STTNAS Jl. Babarsari No. 1 Yogyakarta P : (0274) 7165576

RS. Sardjito Cash Office RS. Sardjito Jl. Kesehatan No. 1 Yogyakarta P : (0274) 557918 F : (0274) 557918

Supporting Branch

SHARIA OFFICE

UII Condong Catur Cash Office Kampus Fakultas Ekonomi UII Condong Catur Sleman Jl. Ringroad Utara Sleman, Yogyakarta P : (0274) 881758 F : (0274) 881758

Sharia Jakarta

UAD Cash Office Kampus Universitas Ahmad Dahlan Jl. Dr. Soepomo Janturan, Yogyakarta P : (0274) 7187120

Kramat Jati Supporting Branch Ruko Kokan Anggatra PP 6-A1 PUSDISKES Jl. Raya Bogor Kramat Jati Jakarta Timur P : (021) 80877075 F : (021) 8093224

Branch Jl. Melawai Raya No. 5 Jakarta Selatan 12160 P : (021) 2700072 F : (021) 2702292/2702293 Supporting Branch

Payment Point Office Payment Point STIE “YO” Kampus STIE “YO” Jl. Glagahsari No. 63 Yogyakarta P : (0274) 380396

Sharia Payakumbuh Supporting Branch Jl. Jend. Sudirman No. 14 Payakumbuh P : (0752) 90844/90845 F : (0752) 90847 Sharia Medan Branch Jl. S. Parman No.77 Medan, Sumatera Utara 20112 P : (061) 4523577 F : (061) 4523677 Sharia Surabaya Branch Jl. Raya Darmo No. 136 Surabaya P : (031) 5636485 (hunting) /5636486/ 5636487 F : (031) 5681274

Sharia Bandung Branch Jl. Laksamana Laut R.E Martadinata No. 142 Bandung 40113 P : (022) 7213373 F : (022) 7213380

Growth Network Services PT Bank Bukopin Tbk. Network

2007

2008

Branch Office

40

41

1

Supporting Branch Office

82

88

6

124

129

5

Payment Point

34

36

2

Pick up Services

31

33

2

311

333

22

Cash Office

ATM


Growth

Capital Market Supporting Institutions and Profession a. Stock Exchange PT Bursa Efek Indonesia Gedung Bursa Efek Jakarta - Tower 1, 10th Floor Kawasan Niaga Terpadu Sudirman Jl. Jend. Sudirman Kav. 52-53 Jakarta 12190 Ticker Code : BBKP Listed in Indonesia Stock Exchange dated 10 July 2006

b. Share Registrar PT Datindo Entrycom Wisma Diners Club Annex Jl. Jenderal Sudirman Kav. 34-35 Jakarta 10220

c. Custodian PT Kustodian Sentral Efek Indonesia Gedung Bursa Efek Jakarta Lt.5 Jl. Jend. Sudirman Kav. 52-53 Jakarta 12190

e. Notary Notaris Lindasari Bachroem SH Jl. Cianjur No. 8 Jakarta Pusat

f. Trustee PT Bank Mandiri (Persero) Tbk. Plaza Mandiri Lt. 22 Jl. Jend. Gatot Subroto Kav. 36-38 Jakarta 12190

g. Rating Agency PT Pemeringkat Efek Indonesia (Pefindo) Setiabud i Atrium Lt. 8 Suite 809-810 Jl. HR. Rasuna Said Kav. 62, Kuningan Jakarta 12920

h. Public Accountant Office Purwantono, Sarwoko & Sandjaja Gedung Bursa Efek Indonesia, Tower 2 Lt. 7 Kawasan Niaga Terpadu Sudirman Jl. Jend. Sudirman Kav. 53-54 Jakarta 12190

d. Legal Consultant Hadiputranto, Hadinoto & Partners Gedung Bursa Efek Jakarta - Tower 2, 21th Floor Kawasan Niaga Terpadu Sudirman Jl. Jend. Sudirman Kav. 52-53 Jakarta 12190

For further information, please contact:

Investor Relation Gedung Bank Bukopin Jl. MT. Haryono Kav. 50-51 Jakarta 12770, Indonesia Tel. (62-21) 7988266, 7989837 Fax. (62-21) 7986337 E-mail : [email protected] www.bukopin.co.id


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