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Annual Report 2009 | Bank Syariah Mandiri 105

As per the year-end of 2009, BSM owned 390 Service Offices consisting of 61 Branch Offices, 107 Sub-Branch Offices, , 95 Cash Offices, 49 Sharia Service Offices, 51 Payment Points, 13 Mobile Cash Units and 14 counters. The BSM ATM network as of the year-end of 2009 encompassed 40,866 ATM networks consisting of : ATM BSM 220 units, ATM Mandiri 4,630 units, ATM Bersama 20,096 units (including ATM Mandiri and ATM BSM), ATM Prima 13,663 units, and Malaysia Electronic Payment System (MEPS) 7,107 units. All service offices and ATM networks spread across 25 of 33 provinces in Indonesia.

Office Networks

Nanggroe Aceh Darussalam

Sumatera Utara

Riau

Sumatera Barat

Jambi

BengkuluSumatera Selatan

Bangka-Belitung

BantenJawa Tengah

Jawa Barat YogyakartaJawa Timur

Bali Nusa Tenggara BaratNusa Tenggara Timur

Maluku

Papua Barat

Maluku Utara

SulawesiUtaraGorontalo

SulawesiTengah

SulawesiBarat

SulawesiSelatan

SulawesiTenggara

KalimantanTimur

KepulauanRiau

KalimantanTengah

KalimantanSelatan

KalimantanBarat

DKI JakartaLampung

WILAYAH I/ MEDAN Gedung BSM Lt.4, Jl. A.Yani No. 100, Medan, Sumatera Utara Telp. (061) 4534466 Fax. (061) 4534456

KC MEDAN Jl. Jenderal Achmad Yani No. 100, Medan, Sumatera Utara. Telp. (061) 4153866, 4151466 Fax. (061) 4511867

KCP MEDAN KAMPUNG BARU Jl. Brigjen Katamso No. 717 B,Medan,Sumatera Utara. Telp. (061) 7869518 Fax. (061) 7869739

KCP MEDAN TEBING TINGGIJl. A Yani No. 141 Kodya Tebing Tinggi,Medan, Sumatera Utara. Telp. (0621) 328125, 328126 Fax. (0621) 328127

KCP MEDAN AKSARA Jl. Letda Sujono No. 110, Medan, Sumatera Utara. Telp. (061) 7325939, 7325957Fax. (061) 7332936

KK MEDAN SETIA BUDI Kompl. Perumahan Nice Commercial, Blok B No. 4, Jl. Setia Budi, Medan, Sumatera Utara. Telp. (061) 8220384 Fax. (061) 8221267

KK MEDAN KRAKATAUJl. Krakatau No. 136 Pulau Brayan, Medan, Sumatera Utara. Telp. (061) 6691005 Fax. (061) 6616121

KK MEDAN BELAWAN Jl. Sumatera No. 33 Belawan,Medan, Sumatera Utara. Telp. (061) 6945820 Fax. (061) 6941744

KK MEDAN POLONIA Bandara Udara Internasional TerminalKedatangan, Jl. Imam Bonjol, Medan, Sumatera Utara. Telp. (061) 4567127 Fax. (061) 4567127

KK MEDAN PETISAH Jl. Rotan No. 7, Medan, Sumatera UtaraTelp. (061) 4521002 Fax. (061) 4145787

KLS MEDAN PULO BRAYANKantor Cabang Bank Mandiri Jl. Yos SudarsoBlok A No. 1A, Pulo Brayan Medan,Sumatera Utara. Telp. (061) 6632944 Fax. (061) 6632861

KLS MEDAN TEBING TINGGIKantor Cabang Bank Mandiri Jl. Dr. Sutomo No. 17, Tebing Tinggi,Sumatera Utara. Telp. (0621) 24440 Fax. (0621) 24440

PP MEDAN UMSU Kampus III UMSU Jl. Kapten Mukhtar BasriNo. 3, Medan, Sumatera Utara. Telp. (061) 6623323 Fax. -

PP MEDAN UISUKampus Universitas Islam Sumatera UtaraJl. Sisingamaraja - Teladan, Medan, Sumatera Utara. Telp. (061) 7883683 Fax. (061) 7883683

KAS KELILING MEDANKota Medan dan sekitarnya

KC ACEH Jl. Diponegoro No. 6, Banda Aceh,Nanggroe Aceh Darussalam. Telp. (0651) 22010 Fax. (0651) 33945

KCP MEULABOH Jl. Nasional No. 59 Meulaboh, Aceh Barat,Nanggroe Aceh Darussalam. Telp. (0655) 7551109, 7551558 Fax. (0655) 7551184

KK ACEH DARUSSALAMJl. T. Nyak Arief No. 376, KopelmaDarussalam, Syiah Kuala, Banda Aceh,Nanggroe Aceh Darussalam. Telp. (0651) 7551743, 7551744Fax. (0651) 7551745

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106 Annual Report 2009 | Bank Syariah Mandiri

KK JANTHO Jl. T. Bachtiar P. Polem, SH. No. 3, Jantho,Aceh Besar, Nanggroe Aceh DarussalamTelp. (0651) 92684, 92689Fax. (0651) 92683

PP ACEH UNMUHA Gedung Univ. Muhammadiyah Aceh,Jl. Muhammadiyah No. 91, Banda Aceh, ,Nanggroe Aceh Darussalam. Telp. (0651) 28303 Fax. (0651) 28303

GERAI ONLINE ACEH I STIKES dan STIMIK Ubudiyah, AcehNanggroe Aceh Darussalam.

GERAI ONLINE ACEH IIPT Semen Andalas Indonesia, Banda Aceh

KC PEKANBARUJl. Jend. Sudirman No. 169, Pekanbaru, Riau.Telp. (0761) 849191, 8499192Fax. (0761) 849190, 31668

KCP PEKANBARU HARAPAN RAYAJl. Imam Munandar No. 155, Pekanbaru, Riau. Telp. (0761) 862222 Fax. (0761) 849799

KCP PEKANBARU PANAMJl. H.R. Subrantas Km. 9,5 (Depan PonpesBabussalam), Panam, Pekanbaru, Riau.Telp. (0761) 62263, 62385 Fax. (0761) 62270

KCP PEKANBARU PANGKALAN KERINCIJl. Lintas Timur No. 115, Pangkalan Kerinci,Pekanbaru, Riau. Telp. (0761) 493333 Fax. (0761) 493337

KCP TEMBILAHANJl. M. Boya No.4, Tembilahan, Indragiri Hilir,Pekanbaru, Riau.Telp. (0768) 21935, 21936, 21937, 21939 Fax. (0768) 21938

KK RUMBAI Jl. Sekolah, Rumbai No. 10 A, Pekanbaru, Riau. Telp. (0761) 51959 Fax. (0761) 51876

KLS PEKANBARU AHMAD YANI Kantor Cabang Bank Mandiri Jl. JendAhmad Yani No. 85, Pekanbaru, Riau.Telp. (0761) 7051266 Fax. (0761) 839544

PP PENGADILAN AGAMA PEKANBARUJl. Rawa Indah No. 1, Arifin Ahmad,Pekanbaru, Riau. Telp. (0761) 7063358 Fax. (0761) 7063358

PP PEKANBARU PMC Pekanbaru Medical Center, Jl. LembagaPemasyarakatan No.25 Pekanbaru, Riau. Telp. (0761) 34325 Fax. (0761) 34325

PP PEKANBARU UIRFakultas Ekonomi - Universitas Islam RiauJl. Kaharudin Nasution No. 113 Pekanbaru, Riau. Telp. - Fax. -

GERAI ONLINE PEKANBARUMal Ciputra Seraya, Pekanbaru, Riau.

KC SIMEULUEPertokoan Suak Tungkul Kavling 1 No. 5/6Jl. Tgk. Diujung Sinabang, SimeuleuNanggroe Aceh DarussalamTelp. (0650) 21557 Fax. (0650) 21570

KCP BLANGPIDIEJl. Kesehatan No. 84-86, Gampong KutaTuha, Blangpidie, Simeuleu.Nanggroe Aceh DarussalamTelp. (0659) 93387 Fax. (0659) 93386

KC PADANG Jl. Imam Bonjol No. 17, Padang, SumateraBarat. Telp. (0751) 21113, 20765Fax. (0751) 24768

KCP SOLOKJl. Prof. M. Yamin, SH. No. 375, Pandan,Solok, Sumatera Barat. Telp. (0755) 22594 Fax. (0755) 22960

KK PADANG ULAK KARANGJl. S. Parman no. 151 B, Padang, Sumatera Barat. Telp. (0751) 444908 Fax. (0751) 444218

KK BANDAR BUAT (d.h. AUR KUNING)Jl. Bandar Buat No. 11, Padang, Sumatera Barat.Telp. (0751) 71600, 71900Fax. (0751) 72500

KK PARIAMANJl. Sudirman No. 38, Pariaman, umatera Barat.Telp. (0751) 93950, 93951Fax. (0751) 93952

PP PADANG UNIVERSITAS ANDALASGedung Pusat Kegiatan MahasiswaUniversitas Andalas Jl. Limau Manis,Padang, Sumatera Barat. Telp. (0751) 778600 Fax. (0751) 778601

KAS KELILING PADANGKota Padang dan sekitarnya.

GERAI ONLINE PADANG (lokasi: KOTABUKITTINGGI) Riau

KC STABAT Jl. K. H. Zainul Arifin No. 17 Stabat,Sumatera Utara.Telp. (061) 8912631, 8912632 Fax. (061) 8912630

KCP BINJAIJl. Sutomo No. 33 Binjai, Sumatera Utara.Telp. (061) 8823770 Fax. (061) 8826544

KCP PANGKALAN BRANDANJl. Thamrin No. 57, Pangkalan Brandan,Lahat, Sumatra Utara Telp. (0620) 322222 Fax. (0620) 322767

KLS STABAT PANGKALAN BRANDANKantor Cabang Bank Mandiri HubPangkalan Brandan, Komplek PertaminaSumbagut Pangkalan Brandan, Jl. Wahidin No. 1, Pangkalan Brandan,Sumatera Utara. Telp. (0620) 21925 Fax. (0620) 21844

PP STABAT PANCA BUDIPerguruan Panca Budi , d.a. Toserba PADI,Gedung G, Jl. Gatot Subroto Km. 4,5 SeiSikambing, Medan, Sumatera Utara.

KC RANTAU PRAPATJl. Imam Bonjol No. 22, Rantau Prapat,Sumatera Utara. Telp. (0624) 24880, 24205, 25278Fax. (0624) 25278

KK RANTAU PRAPAT KOTA PINANGJl. Jenderal Sudirman No. 26 B Kota Pinang,Rantau Prapat, Sumatera Utara. Telp. (0624) 496922,496918Fax. (0624) 496919

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KLS RANTAU PRAPAT A.YANIKantor Cabang Bank Mandiri Hub RantauPrapat A. Yani, Jl. Jend. Ahmad Yani No.2Rantau Prapat, Sumatera Utara. Telp. (0624) 22573 Fax. (0624) 22723

KC BATAMKomplek Graha Sulaeman Blok B No. 2,Jl.Sultan Abdul Rahman, Lubuk Baja, Batam, Kep. Riau. Telp. (0778) 43133, 432724Fax. (0778) 432727

KK BATAMINDOShophouse Blok D 01-18 Kawasan IndustriBatamindo, Batam, Kep. Riau. Telp. (0770) 612044 Fax. (0770) 612303

KLS BATAM RAJA ALI HAJIKantor Cabang Bank Mandiri, Jl. Raja AliHaji No.39, Batam, Kep. Riau. Telp. (0778) 425925 Fax. (0778) 430240

KC BUKITTINGGIJl. Jenderal Sudirman No. 73 Bukit Tinggi,Sumatera Barat. Telp. (0752) 627633, 35 Fax. (0752) 627637

KCP PAYAKUMBUHJl. Ade Irma Suryani No. 3 D-E, Payakumbuh,Sumatera Barat. Telp. (0752) 796640, 796641Fax. (0752) 93167

KK PADANG PANJANGJl. Soekarno-Hatta No. 3 Padang Panjang, Sumatera Barat. Telp. (0752) 84591, 82992Fax. (0752) 82993

KC PADANGSIDEMPUANJl. Merdeka No. 81-81A, PadangsidempuanTapanuli Selatan, Sumatera Utara.Telp. (0634) 28200 Fax. (0634) 28103

KCP PANYABUNGAN Jl. Willem Iskandar No. 115 B Panyabungan,Madina, Sumatera Utara.Telp. (0636) 20232, 321500, 321616Fax. (0636) 321617

KCP SIBUHUANJl. Ki Hajar Dewantara, Lingkungan VI,Sibuhuan, Padang Lawas, Sumatera Utara.Telp. (0636) 421335 - 421337 Fax. (0636) 421786

KLS PADANG SIDEMPUAN SUDIRMANKantor Cabang Bank Mandiri Hub PadangSidempuan, Jl. Sudirman No. 30-32 PadangSidempuan, Sumatera Utara.Telp. (0634) 28300 Fax. (0634) 24300

KC DUMAIJl. Jenderal Sudirman No. 162 Dumai, Riau.Telp. (0765) 33555 Fax. (0765) 32379

KCP DURI Jl. Hang Tuah Duri Kab Bengkalis, Riau.Telp. (0765) 598990 Fax. (0765) 598993

KCP DUMAI BAGAN BATUJl. Jend. Sudirman No. 649, Bagan Batu,Kabupaten Rokan Hilir, Riau.Telp. (0765) 51890 - 5189 (Hunting) Fax. (0765) 51893

KLS DUMAI SYARIEF KASIMKantor Cabang Bank Mandiri Jl. SultanSyarif Kasim No. 99, Dumai, Riau.Telp. (0765) 31150 Fax. (0765) 31150

PP CPIArea Camp PT. Chevron Pacific Indonesia(CPI) , Riau.Telp. (0765) 826303 Fax. (0765) 999038

PP PERTAMINA UP IIKompl. Perumahan Pertamina UP IIJl.Cilacap, Bukit Datuk , Riau. Telp. (0765) 7011589 Fax. -

PP RSUD Rumah Sakit Umum Daerah, Jl. Sultan SyarifKasim, DumaiTelp. (0765) 443369 Fax. (0765) 443370

KC PEMATANGSIANTARJl. Jenderal Sudirman Blok A No. 5-6,Pematangsiantar, Sumatera Utara.Telp. (0622) 435858, 435857,

435861 Fax. (0622) 435848

KCP PERDAGANGANJl. Sisingamaraja, Perdagangan KabSimalungun, Sumatera Utara. Telp. (0622) 697777 Fax. (0622) 697177

KCP KISARANJl. Imam Bonjol No. 195 Kisaran, Medan, Sumatera Utara. Telp. (0623) 348500, 348501Fax. (0623) 348502

KCP TANJUNG BALAIJl. HOS Cokroaminoto No.35 DE, TanjungBalai, Sumatera Utara.Telp. (0623) 597373 Fax. (0623) 596933

PP BRIDGESTONEKomplek PT. Bridgestone Sumatera RubberEstate, Dolok Merangir, Pos Serbalawan,Kab. Simalungun, Sumatera Utara. Telp. (0622) 64118 Fax. (0622) 64227

KC LANGSAJl. Ahmad Yani No. 28-29, Kota Langsa,Nanggroe Aceh Darussalam.Telp. (0641) 426135, 21357, 426451Fax. (0641) 426051

KK PASAR LANGSAJl. Teuku Umar No. 61, Kota Langsa,Nanggroe Aceh Darussalam. Telp. (0641) 22035, 23804Fax. (0641) 23913

PP MADASRAH ULUMUL QUR’ANMadrasah Ulumul Quran Jl. Banda AcehMedan Km. 447, Kota Langsa, NanggroeAceh Darussalam. Telp. (0641) 7014766 Fax. -

KC TANJUNG PINANGJl. Diponegoro No. 1 C Tanjung Pinang, Kep RiauTelp. (0771) 313788 Fax. (0771) 313995

WILAYAH II/ JAKARTA IGraha Mandiri Lantai 22, Jl. Imam BonjolNo.61, Jakarta Pusat. Telp. (021) 3903969 Fax. (021) 3904395

KC JAKARTA HASANUDINJl. S. Hasanudin No. 57 Jakarta Selatan.Telp. (021) 2701515, 2701505Fax. (021) 7220362

KK JAKARTA AL AZHAR KEBAYORANKomplek Masjid Agung Al Azhar,Sisingamaraja Kebayoran Baru, Jakarta Selatan. Telp. (021) 72790244 Fax. (021) 72790381

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KK JAKARTA FATMAWATIJl. RS Fatmawati No. 27 B , Jakarta Selatan.Telp. (021) 75903336 Fax. (021) 75903362

KK JAKARTA WALTERMONGINSIDIJl. Waltermonginsidi No. 67 A, Jakarta Selatan. Telp. (021) 7226063, 7226067,

7226068Fax. (021) 7223044

KLS JAKARTA SUMMITMASKantor Cabang Bank Mandiri GedungSummitmas I Lt.1, Jl. Jendral Sudirman Kav.61-62, Jakarta Selatan.Telp. (021) 2521728 Fax. (021) 2522281

KC JAKARTA MAYESTIKJl. Kyai Maja No. 6 Kebayoran Baru, Jakarta Selatan. Telp. (021) 7202451, 7202728,

7202509, 7394952 Fax. (021) 7220822

KCP CIPULIR Jl. Ciledug Raya Cipulir No. 123E, Jakarta Selatan. Telp. (021) 7244664, 72786414Fax. (021) 72786360

KCP JAKARTA PALMERAH Jl. Palmerah Barat No. 32 B, KebayoranLama, Jakarta Selatan.Telp. (021) 5356423, 5356601Fax. (021) 5356757

KK JAKARTA RS. DHARMAISGedung RSK Dharmais Jl. Letjen S ParmanKav. 84-86, Slipi, Jakarta Barat. Telp. (021) 56943409, 56943407Fax. (021) 56943408

KK JAKARTA BENDUNGAN HILIRJl. Bendungan Hilir Raya No. 37, Jakarta Pusat. Telp. (021) 5725779, 5703644Fax. (021) 57900825

KLS JAKARTA S. PARMANKantor Cabang Bank Mandiri Wisma BaritoPacific, Jl. S. Parman Kav. 62-63 Slipi, Jakarta Barat. Telp. (021) 53660560 Fax. (021) 53660560

KLS JAKARTA GD. PUSAT KEHUTANANKantor Cabang Bank Mandiri WismaManggala Wanabhakti, Jl. Jend. Gatot Subroto, Jakarta Pusat.Telp. (021) 5731933 Fax. (021) 5731933

KC JAKARTA WARUNG BUNCITGedung Fortune Lt. Dasar Jl. MampangPrapatan No. 96 Jakarta Selatan.Telp. (021) 7989007, 7989009Fax. (021) 7989006

KCP JAKARTA CIBUBURRuko Citra Grand Blok R-2 No.8-9, Jl. RayaAlternatif, Cibubur, Jakarta Timur.Telp. (021) 84300107, 84300108,

8449778 Fax. (021 84590918

KCP JAKARTA CILILITANJl. Raya Bogor No. 1 Kramat Jati, Jakarta Timur. Telp. (021) 80878616, 70982824Fax. (021) 80878617

KK JAKARTA PLAZA MANDIRIPlaza Mandiri - L 1 Jl. Jend. Gatot SubrotoKav 36-38, Jakarta Selatan. Telp. (021) 5263466, 5263688Fax. (021) 5263566

KK JAKARTA PASAR MINGGUJl. Raya Pasar Minggu Ujung No. 26 D,Jakarta Selatan. Telp. (021) 78833626, 7892545.Fax. (021) 7806973

KLS JAKARTA PS. REBOKantor Cabang Bank Mandiri Plaza PP, Jl. Letjen TB Simatupang No.57, Jakarta Timur. Telp. (021) 87780053 Fax. (021) 87790475

KLS JAKARTA CILEUNGSIRS.MH. Thamrin Jl. Raya Narogong Km.15, Limusnunggal, Cileungsi, Bogor.Telp. (021) 82491527, 82491533 Fax. (021) 82494270

GERAI ONLINE JAKARTA IVPonpes Al-I’tishom XIV , Jl. Tanjung Barat Selatan, Jakarta Selatan.

KC JAKARTA PONDOK INDAH Komp. Ruko Pondok Indah Kav. II No.11,Blok UA Jl.Taman Duta I Sektor II Jakarta Selatan. Telp. (021) 7662029, 7662030Fax. (021) 7662028, 7665391

PB JAKARTA PONDOK INDAHJl. Metro Duta Raya Plaza 2 Blok B IV No. 33Pondok Indah, Jakarta Selatan. Telp. (021) 75920025 Fax. (021) 75920024

KCP CIPUTAT Jl. Ir. H. Juanda No. 111, Ciputat, Tangerang.Telp. (021) 7425267 Fax. (021) 7423018

KCP BINTARO Bintaro Trade Center Jl. Sudirman Blok A1 No. 8 Bintaro, Tangerang.Telp. (021) 7450120, 7453301Fax. (021) 7450116

KCP CINERE Jl. Cinere Raya Blok A No. 38 Limo, Depok.Telp. (021) 7548031 Fax. (021) 7548032

KK PAMULANG Jl. Siliwangi Blok SN 21/9 Pamulang, Tangerang. Telp. (021) 74701759 Fax. (021) 7498348

KK JAKARTA CILANDAKJl. Cilandak KKO No. 5E, Cilandak, Ragunan, Jakarta Selatan. Telp. (021) 7829780 Fax. (021) 78832136

KLS JAKARTA PONDOK INDAH MALL 2Kantor Cabang Bank Mandiri Pondok IndahMall 2 G/33C, Jl. Metro Pondok Indah,Jakarta Selatan.Telp. (021) 75920600 Fax. (021) 75920600

PP JAKARTA HARAPAN IBUYayasan Harapan Ibu, Jl. H. Banan No.1 Pondok Pinang, Jakarta Selatan. Telp. (021) 7511148 Fax. (021) 7511148

GERAI ONLINE JAKARTA IFestival Economy Syariah II JakartaConvention Center, Jakarta Selatan.

KC BEKASI Komplek Pertokoan Kalimalang CommCenter, Jl. A Yani A5 No. 6-7, Bekasi, Jawa Barat. Telp. (021) 8853990, 8856368Fax. (021) 8856406

KCP BEKASI CIKARANGRuko Sentra Cikarang Jl. Cikarang CibarusanBI. B No. 2 Cikarang, Bekasi, Jawa Barat.Telp. (021) 89902076, 89902077Fax. (021) 89906765

KCP BEKASI PONDOK GEDEJl. Jatiwaringin Raya No. 96 Pondok Gede,Bekasi, Jawa Barat. Telp. (021) 84970252 Fax. (021) 84970265

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KCP KARAWANGJl. Tuparev Blok No. 8, Karawang, Jawa Barat. Telp. (0267) 418451, 418452Fax. (0267) 418422

KCP CIKAMPEKJl. A Yani No. 5, Cikampek Kota,Karawang, Jawa Barat. Telp. (0264) 8385152 8385154 Fax. (0264) 8385227

KK BEKASI TIMURRuko Kalimas Blok C-5, Jl. Chairil Anwar,Bekasi, Jawa Barat. Telp. (021) 88353689 Fax. (021) 8803805

KK BEKASI TAMBUNJl. Sultan Hasanuddin No. 1, Tambun,Bekasi, Jawa Barat Telp. (021) 88377632, 88377633Fax. (021) 88327079

KLS JAKARTA PONDOK KELAPA Kantor Cabang Bank Mandiri Jl. Tarum Barat Km. 4,5, Kalimalang, Bekasi, Jawa Barat. Telp. (021) 86900456 Fax. (021) 86900456

GERAI ONLINE JAKARTA VIBekasi Square, Kalimalang, Bekasi.

KC JAKARTA THAMRINJl. M. H. Thamrin No. 5, Jakarta Pusat.Telp. (021) 2300509, 39839000Fax. (021) 39832939

KCP JAKARTA KRAMATJl. Kramat Raya No. 23 C, Jakarta Pusat.Telp. (021) 3900349, 3900350Fax. (021) 3244660

KCP JAKARTA TANAH ABANGKomplek Tanah Abang Bukit, Blok F/4,Jl. KH. Fachruddin, Jakarta Pusat.Telp. (021) 3917747, 3923030 Fax. (021) 3918004

KK JAKARTA INDOSATGedung Indosat Jl. Medan Merdeka BaratNo. 21 ,Jakarta Pusat. Telp. (021) 3519140, 3869969Fax. (021) 3519141

KK JAKARTA CEMPAKA PUTIHKomplek Perkantoran Cempaka PutihPermai Blok A No. 24, Jl. Letjend. R. Soeprapto Kav.10, Jakarta Pusat. Telp. (021) 4229015, 4263402Fax. (021) 4202258

KK JAKARTA DEPARTEMEN AGAMAGedung Departemen Agama, Jl. LapanganBanteng No. 3-4 Jakarta Pusat. Telp. (021) 3441235 Fax. (021) 2441231

KK JAKARTA PASAR BARUJl. Pintu Air No. 7 Blok A1, Pasar Baru, Jakarta Pusat.Telp. (021) 3442371 Fax. (021) 3442370

KLS JAKARTA IMAM BONJOLKantor Cabang Bank Mandiri Jl. Imam Bonjol No.6,1 Jakarta Pusat.Telp. (021) 3902394 Fax. (021) 3902394

KLS JAKARTA FAKHRUDINKantor Cabang Bank Mandiri Jl. Fakhrudin No.15 Tanah Abang, Jakarta Pusat. Telp. (021) 3910788 Fax. (021) 3910788

PP JAKARTA BANK INDONESIAKomplek Bank Indonesia, Gedung KebonSirih Lantai 3, Jakarta Pusat.

KAS KELILING JABODETABEKCIL Kota Jakarta dan sekitarnya.

KC BOGOR Jl. Pajajaran No. 35, Bogor, Jawa Barat.Telp. (0251) 8350562, 8350563Fax. (0251) 8350565

KCP CIBINONG Ruko Graha Cibinong No.2D, Jl.Raya Jakarta-Bogor KM.43 Cibinong,Bogor, Jawa Barat. Telp. (021) 87915703, 87915704Fax. (021) 87919008

KCP BOGOR TAJURJl. Siliwangi No. 72D, Bogor, Jawa Barat.Telp. (0251) 8312169, 8393260,

8323932 Fax. (0251) 8320472

KK BOGOR MERDEKA Jl. Merdeka No. 63, Bogor Jawa Barat.Telp. (0251) 8386570, 8386571Fax. (0251) 8362312

KK BOGOR DRAMAGAJl. Perwira No. 151 Dramaga, Bogor, Jawa Barat. Telp. (0251) 8423026 Fax. (0251) 8423027

KK JALAN BARUJl. KH. Sholeh Iskandar No. 77 A, Bogor , Jawa Barat. Telp. (0251) 8377218 Fax. (0251) 8377321

KK CITEUREUPJl. Mayor Oking No. 5 D, Bogor , Jawa Barat.Telp. (021) 87941450 Fax. (021) 87941446

KLS BOGOR KAPTEN MUSLIHAT Kantor Cabang Bank MandiriJl. Kapten Muslihat No.17, Bogor, Jawa Barat. Telp. (0251) 8348065 Fax. (0251) 8348139

KC TANGERANGJl. Merdeka No. 308 Cimone, Tangerang, Banten. Telp. (021) 5580754, 5580711Fax. (021) 5580807

KCP TANGERANG CILEDUGJl. HOS Cokroaminoto No. 69 Ciledug,Tangerang, Banten. Telp. (021) 73458148, 73458149Fax. (021) 73458150

KK TANGERANG B S D Ruko BSD Sektor IV Blok RF 33 BSD,Tangerang, Banten. Telp. (021) 53152888 Fax. (021) 53152460

KK TANGERANG MALABARJl. Borobudur Raya Blok M No. 22,Bencongan, Curug , Tangerang, Banten.Telp. (021) 55652013 Fax. (021) 55651822

KK TANGERANG CIKUPAJl. Raya Serang Km. 14,8, Blok B No. 7,Cikupa, Tangerang, Banten. Telp. (021) 5963633, 5963634Fax. (021) 5963635

KLS TANGERANG RSU. GLOBAL MEDIKARS. Global Medika Jl. MH. Thamrin No. 3Tangerang, Banten. Telp. (021) 55781523, 55780888 ext 1950 Fax. (021) 55781523

KC CILEGONJl. Sultan Ageng Tirtayasa No. 115 A,Cilegon, Banten. Telp. (0254) 399444, 375648Fax. (0254) 375645

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KCP SERANG Jl. A. Yani No. 152 - A Serang, Banten.Telp. (0254) 222984, 217776,

210191 Fax. (0254) 222985

KCP LEBAK BANTEN Jl. Alun-Alun Barat No. 1 Lebak, Banten.Telp. (0252) 5285411, 5285412 Fax. (0252) 5285413

KK PANDEGLANGJl. A. Yani No. 41 E, Pandeglang, Banten.Telp. (0253) 206035 Fax. (0253) 206034

KLS SERANG DIPONEGORO Kantor Cabang Bank MandiriJl. Diponegoro No. 8, Cilegon, Serang, Banten. Telp. (0254) 202567 Fax. (0254) 200678

PP PT. KBS Gedung Utama PT. Krakatau BandarSamudera, Jl. S. Parman Km. 13 Cigading,Cilegon, Banten Telp. (0254) 8317043 Fax. (0254) 8317042

PP AL AZHAR CILEGONKomplek Yayasan Pendidikan WargaKrakatau Steel, Jl. Tongkol No. 17, Cilegon, Banten

KC JAKARTA TANJUNG PRIOKJl. Enggano No. 42B - 42 Tanjung Priok,Jakarta Utara. Telp. (021) 43906060,43906055Fax. (021) 43906058, 43906059

KCP JAKARTA MANGGA DUAJl. Mangga Dua Raya Blok E 4 Kav No. 3,Jakarta Utara. Telp. (021) 6128715, 6128716Fax. (021) 6128615

KCP JAKARTA KRAMAT JAYAJl. Kramat Jaya No. 42 B Cilincing, Jakarta Utara. Telp. (021) 4410348 Fax. (021) 4410348

KK JAKARTA PELABUHAN TANJUNG PRIOKGd. Mega Enggano, Jl. Enggano Blok ANo.5T, Tanjung Priok, Jakarta UtaraTelp. (021) 43907746, 43907732Fax. (021) 43907733

KK JAKARTA SUNTERJl. Danau Sunter G3/17, Sunter,Jakarta Utara. Telp. (021) 6400584, 65837827Fax. (021) 65837826

KK JAKARTA RSIJ CEMPAKA PUTIHKomplek. RSIJ. Cempaka Putih, Jl. Cempaka Putih Tengah I/1, Jakarta PusatTelp. (021) 4251779 Fax. (021) 4251785

KLS JAKARTA KOTAKantor Cabang Bank Mandiri Jl. Lapangan Stasiun No.2, Jakarta Barat.Telp. (021) 2600500 ext.342 / 314Fax. (021) 2600513

KC JAKARTA SAHARJOJl. Dr Saharjo No. 204A, Jakarta SelatanTelp. (021) 8308768, 8292824,

8357309 Fax. (021) 8308769, 8357310

KCP JAKARTA JATINEGARAPerkantoran Mitra Matraman Blok A1 No.9,Jl. Matraman Raya No. 148, Jakarta Timur.Telp. (021) 85904866 Fax. (021) 85905634

KCP JAKARTA RASUNA SAIDArio Bimo Central Building Jl. H.R. Rasuna Said X-2, Kavling 5 Jakarta Selatan. Telp. (021) 5225961, 5225963Fax. (021) 5225954

KK JAKARTA TEBETJl. Tebet Barat IX No. 31 , Jakarta SelatanTelp. (021) 83796551,83796549, 83792030 Fax. (021) 83796551,83796549, 83792030

KLS JAKARTA JATINEGARA TIMURKantor Cabang Bank Mandiri Jl. Jatinegara Timur No. 58, Jakarta Timur.Telp. (021) 2800033 ext 104/105Fax. (021) 2300637

KC JAKARTA RAWAMANGUNJl. Paus Raya No. 86 Rawamangun, Jakarta Timur. Telp. (021) 4711987Fax. (021) 4711963

KCP CAKUNGKompl. Pusat Perdagangan Ujung MentengBlok B No. 15 (INKOPAU) Cakung, Jakarta Timur. Telp. (021) 46802224, 46802225Fax. (021) 46802228.

KK JAKARTA PONDOK BAMBUJl. Pahlawan Revolusi No. 17C, Pondok Bambu, Jakarta Timur . Telp. (021) 70332098, 86613848Fax. (021) 8611927

KK JAKARTA KLENDERJl Teratai Putih Raya Blok 19 No. 4D Malaka Sari- Duren Sawit, Jakarta TimurTelp. (021) 86608551, 86608567Fax. (021) 8627154

KK JAKARTA UTAN KAYUJl. Utan Kayu No. 49 A, Jakarta Timur.Telp. (021) 85913922, 85913925Fax. (021) 85913209

KK JAKARTA DEWI SARTIKAJl. Dewi Sartika Raya No. 139 B, Cawang, Jakarta Timur Telp. (021) 80872793 / 80872794Fax. (021) 8017404

PP PERGURUAN MUHAMADIYAH - TEBET Jl. Tebet Timur Raya No. 565 Tebet, Jakarta Selatan. Telp. (021) 83704332 Fax. (021) 83704332

GERAI ONLINE JAKARTA IIIPulo Gadung Trade Center (PTC), PuloGadung, Jakarta Timur.

GERAI ONLINE JAKARTA V Mal Citra Klender, Jatinegara, Jakarta Timur.

KC JAKARTA MERUYA Jl. Meruya Ilir No. 36A Srengseng,Jakarta Barat. Telp. (021) 58900468, 58900470Fax. (021) 58900471

KK JAKARTA KEDOYA Rukan Golden Green No. 9, Jl. Panjang Kedoya Utara, Jakarta Barat.Telp. (021) 58302309 Fax. (021) 56943609

KK JAKARTA TANJUNG DURENJl. Tanjung Duren Raya No. 129 C TanjungDuren Selatan Jakarta Barat. Telp. (021) 5632891 Fax. (021) 56964233

KK JAKARTA TRISAKTI Universitas Trisakti Kampus A Gedung i, Jl. Kyai Tapa No.1,Jakarta Barat. Telp. (021) 56943139, 56943094Fax. (021) 56943140

KK JAKARTA DURI KOSAMBIPerumahan Taman Semanan Indah Blok GNo:7, Jl. Darma Kencana, Duri Kosambi,Cengkareng, Jakarta Barat. Telp. (021) 5450811 Fax. (021) 56984701

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KLS JAKARTA DAAN MOGOTKantor Cabang Bank MandiriJl. Daan Mogot, Jakarta Barat. Telp. (021) 56952867 Fax. (021) 56952907

PP JAKARTA PURI RS. Puri Mandiri Kedoya, Jl. Raya Kedoya No. 2, Jakarta Barat.Telp. (021) 58303052 Fax. (021) 58303052

GERAI ONLINE JAKARTA IIRuang Birawa, Hotel Bumi Karsa, Jl. Gator Subroto, Pancoran, Jakarta Selatan.

KC DEPOK Ruko Depok Mas Blok A1-2 Jl. Margonda Raya No. 42, Depok, Jawa Barat. Telp. (021) 7765231, 7765251Fax. (021) 77202905

KCP MARGONDAJl. Margonda Raya No. 349 B, Depok, Jawa Barat. Telp. (021) 7865162, 7874604Fax. (021) 78882141

KK DEPOK FMIPA - UI Komplek Fakultas MIPA Universitas Indonesia, Depok, Jawa Barat.Telp. (021) 78849007 Fax. (021) 78849614

KK DEPOK CIMANGGISJl. Raya Bogor KM 31, Pasar Cisalak,Cimanggis, Depok, Jawa Barat.Telp. (021) 87718007Fax. (021)87720017

KK DEPOK SAWANGANRuko Bukit Sawangan Indah Blok F2 No. 3 Jl. Raya Parung, Sawangan, Depok, Jawa Barat. Telp. (0251) 601771, 70628284Fax. (0251) 619609

KK DEPOK DUAJl. Raya Tole skandar No. 28, Depok Dua,Jawa Barat. Telp. (021) 77835544 Fax. (021) 77835599

KLS DEPOK CIMANGGISKantor Cabang Bank Mandiri Jl. Raya Bogor KM 28, Cimanggis, Depok, Jawa Barat. Telp. (021) 87713957, 8710013, 775

ext 14-15 Fax. (021) 87713957

PP YAYASAN PENDIDIKAN NURUL FIKRIYayasan Pendidikan Nurul Fikri Jl. Situ Indah No. 116, Tugu Cimanggis, Depok , Jawa Barat. Telp. (021) 8724729 Fax. (021) 8724729

KC JAKARTA KELAPA GADINGJl. Boulevard Raya No.1-I dan 1-J, Kelapa Gading, Jakarta Utara. Telp. (021) 45874646 Fax. (021) 45874747

KK JAKARTA RAWASARIJl. Rawasari Selatan Raya No. 11 B, Jakarta Pusat Telp. (021) 42800166, 42800131 Fax. (021) 42800114

KC BEKASI KALIMALANGPlaza Duta Permai Blok B II No. 23, Jl. KH Noer Ali (d.h. Jl. Raya Kalimalang),Bekasi, Jawa Barat. Telp. (021) 8842886, 88853101Fax. (021) 8842355

WILAYAH III/ JAKARTA II Graha Mandiri Lantai 22, Jl. Imam Bonjol No.61, Jakarta Pusat.Telp. (021) 3903969 Fax. (021) 3904492

KC BANDUNGJl. Ir. H. Juanda No. 74, Bandung, Jawa Barat. Telp. (022) 2515075, 2515076Fax. (022) 2515078

KCP CIMAHI Jl. Raya Cibabat No. 98 Cimahi, Jawa Barat. Telp. (022) 6632228 Fax. (022) 6632212

KCP CIANJUR Jl. Siliwangi No. 6 Pamoyanan, Cianjur, Jawa Barat. Telp. (0263) 284648 Fax. (0263) 284677

KCP SUKABUMIPertokoan A. Yani, Jl. Jenderal A Yani T 04/293 M, Sukabumi, Jawa Barat.Telp. (0266) 243888 Fax. (0266) 243898

KCP GARUT Jl. Cikuray No. 6 Kota Garut, Jawa BaratTelp. (0262) 243689, 243692Fax. (0262) 233137

KCP BANDUNG BUAH BATUJl. Buah Batu Raya No. 151 A-B, Bandung, Jawa Barat. Telp. (022) 7322173 Fax. (022) 7322301

KCP BANDUNG SETIA BUDIJl. Setiabudi No. 169 D, Gegerkalong,Bandung, Jawa Barat. Telp. (022) 2000495 & 2000544 Fax. (022) 2000588

KCP SUMEDANGJl. Pang. Geusan Ulun No. 115, Sumedang, Jawa Barat. Telp. (0261) 205557, 205559,

205544 Fax. (0261) 201993

KK BANDUNG JAPATIGd. Kantor Pusat PT. Telkom Indonesia, Jl. Japati No. 1 Bandung, Jawa Barat.Telp. (022) 7278394 Fax. (022) 7278508

KK CIPANAS Jl. Raya Cipanas No. 8 KM 81 ,Cipanas,Cianjur, Jawa Barat. Telp. (0263) 520299 Fax. (0263) 520399

KK RANCAEKEKJl. Rancaekek Raya No. 57, Rancaekek,Bandung, Jawa Barat. Telp. (022) 7790022, 7790024Fax. (022) 7792632

KLS BANDUNG BRAGAKantor Cabang Bank Mandiri Jl. Braga No. 133, Bandung, Jawa Barat.Telp. (022) 4224907 Fax. (022) 4224906

KLS BANDUNG SOEKARNO HATTAKantor Cabang Bank Mandiri Jl. Soekarno-Hatta No. 486, Bandung,Jawa Barat. Telp. (022) 7538771 Fax. (022) 7538771

KLS BANDUNG ASIA AFRIKAKantor Cabang Bank Mandiri Jl. Asia Afrika No. 118-120, Bandung, Jawa Barat. Telp. (022) 4267224 Fax. (022) 4267224

PP DARUL ARQOMLembaga Pendidikan Ma’had Darul ArqamMuhammadiyah, Jl. Ciledug No. 264/36,Garut, Jawa Barat. Telp. (0262) 236109 Fax. (0262) 236109

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KAS KELILING BANDUNGKota Bandung dan sekitarnya

KC PEKALONGANJl. Merdeka No. 5, Pekalongan, Jawa Tengah. Telp. (0285) 434911, 434912Fax. (0285) 434894

KCP TEGALJl. Gajahmada No. 90 Tegal ,Jawa Tengah. Telp. (0283) 325300, 325301Fax. (0283) 351460

KK PEMALANGJl. Jend. Sudirman No. 129, Pemalang, Jawa Tengah Telp. (0284) 326048, 326049Fax. (0284) 321291

KLS TEGAL ARIF RAHMANKantor Cabang Bank Mandiri Jl. Arif Rahman Hakim No. 19, Tegal, Jawa Tengah. Telp. (0283) 324100 Fax. (0283) 324100

KLS PEKAJANGANSTIKES Muhammadiyah, Jl Raya Ambokembang No.8 Pekalongan,Jawa Tengah.

PP PEKALONGAN RSI. SITI KHODIJAHRS. Islam Siti Khodijah, Jl Bandung No.39-47, Pekalongan, Jawa Tengah. Telp. (0285) 421988 Fax. -

KC SOLO Jl. Slamet Riyadi No. 390, Solo, Jawa TengahTelp. (0271) 718272, 718277Fax. (0271) 719167

KCP KLATEN Jl. Pemuda Tengah No. 43, Klaten, Jawa Tengah. Telp. (0272) 327979 Fax. (0272) 328986

KCP SUKOHARJOJl. Raya Solo Permai Blok CA-61, Solo Baru,Sukoharjo, Jawa Tengah. Telp. (0271) 625255 Fax. (0271) 621003

KK SURAKARTA PASAR KLEWER Jl. Pasar Klewer Blok F No. 8, Surakarta, Jawa Tengah. Telp. (0271) 642336 Fax. (0271) 642336

KK SUKOHARJO PALURJl. Raya Palur No. 307, Palur, Sukoharjo, Jawa Tengah. Telp. (0271) 821943, 821944Fax. (0271) 826899

KK SOLO PASAR KLIWONJl. Kapten Mulyadi No. 228 D-E PasarKliwon, Solo, Jawa Tengah. Telp. (0271) 656300 Fax. (0271) 653522

KK SOLO ASSALAAM Jl. Garuda Mas No. 4 Pabelan Sukoharjo,Solo, Jawa Tengah. Telp. (0271) 719943 Fax. (0271) 719682

KK SRAGEN Jl. Sukowati No. 111, Sragen, Jawa TengahTelp. (0271) 893096 Fax. (0271) 893098

KLS SOLO SLAMET RIYADIKantor Cabang Bank MandiriJl. Brigjen Slamet Riyadi No. 16, Solo, Jawa Tengah. Telp. (0271) 647999 Fax. (0271) 647999

PP SURAKARTA ASSALAMPondok Pesantren Modern Islam ‘Assalam’Kartasura - Sukoharjo, Kotak Pos 286,Surakarta, Jawa Tengah. Telp. (0271) 737432 Fax. (0271) 737432

PP SMK MUHAMMADIYAH IJl. Anggrek No. 2 , Sukoharjo, Jawa TengahTelp. (0271) 592171 Fax. (0271) 592171

KAS KELILING SOLOKota Solo dan sekitarnya

KC PALEMBANGJl. Jend. Sudirman No. 80 Palembang,Sumatera Selatan. Telp. (0711) 367868, 366733Fax. (0711) 354184

KCP PALEMBANG PASAR 16 ILIRPasar 16 Ilir Jl. Masjid Lama No. 30,Palembang, Sumatera Selatan. Telp. (0711) 377244, 377322Fax. (0711) 353594

KCP PALEMBANG PRABUMULIHJl. Sudirman No. 363 Prabumulih, Sumatera Selatan. Telp. (0713) 322888 Fax. (0713) 322565

KCP PALEMBANG SIMPANG PATALJl. R. Sukamto No. 92A , Palembang,Sumatera Selatan. Telp. (0711) 360789, 370901,

361700 Fax. (0711) 361311

KCP PALEMBANG BATURAJAJl. Pahlawan Kemarung Baturaja Timur, Kab. Ogan Komering Ulu, Sumatera SelatanTelp. (0735) 321755, 321075Fax. (0735) 324555

KCP PALEMBANG LUBUK LINGGAUJl. Yos Sudarso No. 97, Lubuk Linggau,Sumatera Selatan. Telp. (0733) 322224 Fax. (0733) 325668

KK PALEMBANG RADIALJl. Brigjend. H.M. Dhanie Effendi (Radial)No.1429 C, Palembang, Sumatera Selatan.Telp. (0711) 350160, 350245Fax. (0711) 351444

KK KM 5Jl. H. Kol Burlian No. 7 C, Km. 5 Palembang, Sumatera Selatan. Telp. (0711) 417045, 417478 Fax. (0711) 417068

KLS PALEMBANG RIVAIKantor Cabang Bank Mandiri Jl. Kapt. A. Rivai No. 1008, Palembang,Sumatera Selatan. Telp. (0711) 320555 Fax. (0711) 356567

PP PALEMBANG RADIALJl. Brigjend. H.M. Dhanie Effendi (RadialNo.1429 C, Palembang, Sumatera SelatanTelp. (0711) 350160, 350245Fax. (0711) 351444

KC CIREBON Jl. Siliwangi No. 102, Cirebon, Jawa BaratTelp. (0231) 202760, 202093Fax. (0231) 202067

KCP KUNINGANJl. Siliwangi No. 64 Kuningan, Jawa Barat.Telp. (0232) 875205, 875206Fax. (0232) 875502

KCP JATIBARANGJl. Raya Siliwangi No. 16 Jatibarang,Indramayu, Jawa Barat. Telp. (0234) 356527, 356529Fax. (0234) 351061

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KCP KADIPATENJl. Raya Timur II, Dawuan, Kadipaten,Kabupaten Majalengka, Jawa Barat.Telp. (0233) 661322, 661400Fax. (0233) 661414

KK PLEREDJl. Ir. H. Juanda No. 29 Plered, Cirebon, Jawa Barat. Telp. (0231) 322898 Fax. (0231) 322897

KLS CIREBON YOS SUDARSOKantor Cabang Bank MandiriJl. Yos Sudarso No. 11, Cirebon, Jawa BaratTelp. (0231) 3360005 Fax. (0231)3360005

PP AL AZHAR CIREBONPerguruan Islam Al-Azhar , Jl. Kampung Melati No. 7, Kesambi, Cirebon , Jawa Barat

KAS KELILING CIREBONKota Cirebon dan sekitarnya. RS. Pertamina, Komplek Pertamina

KC PONTIANAKJl. Diponegoro No. 95 Pontianak,Kalimantan Barat. Telp. (0561) 745004 Fax. (0561) 744774

KCP PONTIANAK KETAPANGJl. MT. Haryono No. 111-112 Ketapang,Pontianak, Kalimantan Barat. Telp. (0534) 34600 Fax. (0534) 34395

KCP SINTANGJl. M.T. Haryono No. 55 Sintang, Kalimantan Barat. Telp. (0565) 23322 Fax. (0565) 23232

KK PONTIANAK POLITEKNIKKampus Politeknik Negeri Jl. A. Yani No. 52, Pontianak, Kalimantan Barat. Telp. (0561) 583850 Fax. (056) 583844

KLS PONTIANAK SIDASKantor Cabang Bank Mandiri Jl. Sidas No. 2, Pontianak, Kalimantan Barat.Telp. (0561)7069797 Fax. (0561) 763082

KC YOGYAKARTAGedung UII Jl. Cik Dik Tiro No. 1 Yogyakarta,Jawa Tengah. Telp. (0274) 555022, 555024 Fax. (0274) 555021

KCP YOGYAKARTA KALIURANGJl. Kaliurang Km. 6,4 No. B 6-A, Yogyakarta, Jawa Tengah. Telp. (0274) 887041, 887053Fax. (0274) 887047

KCP WONOSARIJl. Sumarwi No. 30, Gunung Kidul, Wonosari,Yogyakarta, Jawa Tengah. Telp. (0274) 391854 Fax. (0274) 391181

KK YOGYAKARTA KATAMSOJl. Brigjen Katamso No. 140, Yogyakarta,Jawa Tengah. Telp. (0274) 373736 Fax. (0274) 377290

KK UMY YOGYAKARTAKampus Terpadu UMY Yogyakarta, Gd AR Fachruddin Rektorat Rektorat BJl. Lingkar Barat,Tamantirto Kasihan,Bantul, Jawa Tengah. Telp. (0274) 450215 Fax. (0274) 387655

KK YOGYAKARTA AMBARUKMOJl. Laksda Adi Sucipto No. 268, Ambarukmo,Yogyakarta, Jawa Tengah. Telp. (0274) 484202 Fax. (0274) 484859

KK YOGYAKARTA UII Universiatas Islam Indonesia, Ruang PPKFLt. I, Fakultas Teknik Sipil , Yogyakarta, Jawa Tengah. Telp. (0274) 898412, 898549Fax. (0274) 898564

KK BANTULJl. Jend. Sudirman No. B1-2, Bantul,Yogyakarta, Jawa Tengah. Telp. (0274) 367861, 367871 Fax. (0274) 367857

PP YOGYAKARTA JIHJogja International Hospital (JIH), Jl. Ring Road Utara, No.160 Depok, Sleman,Yogyakarta, Jawa Tengah. Telp. (0274) 4463052 Fax. (0274) 4463025

PP YOGYAKARTA UIN SUNAN KALIJAGAKomp. UIN Sunan Kalijaga Jl. Marsda Adi Sucipto, Gd. Kampus ServiceCenter UIN, Yogyakarta, Jawa Tengah.Telp. (0274) 519742 Fax. (0274) 519742

PP YOGYAKARTA UAD Universitas Ahmad Dahlan Jl. Kapas No. 9, Semaki , Yogyakarta,Jawa Tengah.Telp. (0274)560310 Fax. (0274) 511829

PP YOGYAKARTA UAD IIUniversitas Ahmad Dahlan Jl. Pramuka No. 42 Sidikan, Yogyakarta,Jawa Tengah.

KAS KELILING YOGYAKARTAKota Yogyakarta dan sekitarnya danKampus II Universitas Ahmad Dahlan,Jl. Pramuka No. 42, Sidikan, Yogyakarta

KC JAMBI Jl. Dr. Sutomo No. 11, Jambi. Telp. (0741) 27730, 88 Fax. (0741) 27733

KCP MUARA BUNGOJl. Prof. M. Yamin, SH No. 21 Jambi.Telp. (0747) 323077 Fax. (0747) 322996

KK JAMBI SIPINJl. Kapt. Bakaruddin No. 72 Jambi.Telp. (0741) 669910, 670220 Fax. (0741) 667533

KLS JAMBI SIPINKantor Cabang Bank Mandiri Jl. Kol. Abujani No.54, Jambi. Telp. (0741) 66522 Fax. (0741) 668220

PP IAIN STSKomplek IAIN Sulthan Thaha SaifuddinJl. Arif Rahman Hakim, Telanaipura, Jambi. Telp. (0741) 668069 Fax. (0741) 668069

KC BANDARLAMPUNGJl. R.A Kartini No. 99C - 99DBandarlampung. Telp. (0721) 264088, 264188,

264788 Fax. (0721) 263588

KCP BANDARLAMPUNG BANDAR JAYAJl. Proklamasi Raya No. 12 A-C Bandarjaya,Bandarlampung. Telp. (0725) 529825, 529826Fax. (0725) 529831

KCP BANDARLAMPUNG METROJl. Ryacudu A. 8 Metro, Lampung Tengah,Bandarlampung. Telp. (0725) 7851606 Fax. (0725) 7851605

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KCP BANDAR LAMPUNG PRINGSEWUJl. Ahmad yani No. 130, Pringsewu,Kab. Tanggamus, Bandarlampung.Telp. (0729) 22233 Fax. (0729) 23574

KK KEDATONJl. Teuku Umar No. 34 B, Kedaton,Bandarlampung. Telp. (0721) 789600 Fax. (0721) 783207

KLS TELUK BETUNG MALAHAYATIKantor Cabang Bank MandiriJl. Laksamana Malahayati No.3, Teluk Betung, Bandarlampung. Telp. (0721) 482646 Fax. (0721) 482668

PP BANDARLAMPUNG GREAT GIANTPINEAPLE COMPANY Kompleks PT. Great Giant Pineaple, Jl. Raya Arah Menggala KM 77, Lampung Tengah, Bandarlampung. Telp. (0725) 7573001 Fax. (0725) 7573001

PP BANDARLAMPUNG GUNUNG MADUKompl. Gunung Madu Plantations Km 90 Gunung Batin, Lampung Tengah,Bandarlampung. Telp. (0725) 561700 Fax. (0725) 561800

KC SEMARANGJl. Pemuda 583-585, Semarang, Jawa Tengah. Telp. (024) 3568891, 3568894Fax. (024) 3568890

KCP UNGARAN Ungaran Square Jl. Diponegoro No.745,Ungaran, Semarang, Jawa Tengah.Telp. (024) 6925868, 6925865Fax. (024) 6925869

KCP KUDUS Ruko Ahmad Yani No. 9 Jl. Ahmad Yani,Kudus, Jawa Tengah. Telp. (0291) 439272 Fax. (0291) 439274

KCP MAGELANGRuko TOP Square Blok A-5, Jl. Tentara Pelajar No. 1-5, Magelang, Jawa Tengah. Telp. (0293) 310260 Fax. (0293) 310283

KK SEMARANG KARANGAYURuko Siliwangi Plaza Blok A-5 Jl. Jend Sudirman No. 187-189 Karangayu,Semarang, Jawa Tengah. Telp. (024) 70773184 Fax. (024) 7603139

KLS SEMARANG PANDANARANKantor Cabang Bank MandiriJl. Pandanaran No. 104, Semarang, Jawa Tengah. Telp. (024) 8455043 Fax. (024) 8455043

PP SEMARANG RS ROEMANIKomplek RS. Roemani Jl. Wonodri No. 22Semarang, Jawa Tengah. Telp. (024) 8444623 Fax. (024) 8444623

KAS KELILING SEMARANGKota Semarang dan sekitarnya

GERAI ONLINE SEMARANGMall Ciputra, Semarang, Jawa Tengah

KC TASIKMALAYAJl. Otto Iskandardinata No. 5 Tasikmalaya,Jawa Barat. Telp. (0265) 312995, 312999Fax. (0265) 311199

KCP CIAMIS Komplek Pasar Manis, Jl. Letjend. SamujiNo. 17 , Jawa Barat. Telp. (0265) 761000 Fax. (0265) 777144

KK BANJARJl. Letjen Soewarto No. 41, Banjar,Jawa Barat. Telp. (0265) 741641, 743434,

745500 Fax. (0265) 743444

KLS CIAMISKantor Cabang Bank Mandiri Jl. Ahmad Yani No. 21 Ciamis, Tasikmalaya,

Jawa Barat. Telp. (0265) 2752524 Fax. (0265) 2752523

GERAI ONLINE TASIKMALAYAPlaza Telkom, Tasikmalaya, Jawa Barat.

KC PURWAKARTAJl. Ibrahim Singadilaga No. 88 Purwakarta,Jawa Barat. Telp. (0264) 231760 Fax. (0264) 231761

KCP SUBANG Jl. Otto Iskandardinata No. 27 Subang - Jawa Barat Telp. (0260) 418075, 76 Fax. (0260) 418077

KC BENGKULUJl. Semangka No. 49 Lingkar Timur,Bengkulu. Telp. (0736) 342007, 346498Fax. (0736) 346707

KCP CURUP Jl. Merdeka No. 289, Curup , Kabupaten Rejang Lebong, Bengkulu.Telp. (0732) 325480, 23848, 24458 Fax. (0732) 325447

KLS BENGKULU S.PARMANKantor Cabang Bank Mandiri Jl. Letjen. S.Parman No.183, Bengkulu.Telp. (0736) 24313 Fax. (0736) 24313

PP UNIV. MUHAMMADIYAH BENGKULUKompl. Universitas MuhammadiyahBengkulu, Jl. Bali P.O. Box 113, Bengkulu.

KC PURWOKERTOGedung Bank Syariah Mandiri, Jl. Jend. Sudirman No. 443, Purwokerto,Jawa Tengah Telp. (0281) 641108, 641685Fax. (0281) 642890

KCP CILACAP Jl. Ahmad Yani No. 97, Cilacap, Jawa TengahTelp. (0282) 531015, 531038 Fax. (0282) 535870

KK PURBALINGGA (d.h. KLS Cilacap)Jl. Jl. Jend. Sudirman No. 2 Purbalingga,Jawa Tengah. Telp. (0281) 891414, 895353 Fax. (0281) 895567 PP AL AZHAR CILACAPPerguruan Islam Al AzharJl. Galunggung No. 8 Cilacap, Jawa Tengah.Telp. (0282) 536362 Fax. (0282) 535362

WILAYAH IV/ SURABAYA Ruko Taman Pondok Indah Jl. Raya Wiyung No. A-24, Surabaya, Jawa Timur. Telp. (031) 7665621 Fax. (031) 7661364

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KC SURABAYAJl. Raya Darmo No. 17 Surabaya, Jawa Timur. Fax. (031) 5674848, 5679842, 5677062 Fax. (031) 5679841

KCP GRESIKJL. RA. Kartini No. 180, Gresik, Jawa Timur. Telp. (031) 3972053 Fax. (031) 3972065

KCP SIDOARJOKomplek Ruko Central B1 A/3 Jl. Jenggolo No. 9, Sidoarjo, Jawa TimurTelp. (031) 8946449, 8947231,

8921033, 8922129 Fax. (031) 8957429

KCP BOJONEGOROJl. Diponegoro No. 63 C ,Bojonegoro, Jawa Timur. Telp. (0353) 892125 Fax. (0353) 892123

KCP MOJOKERTO\Komplek Ruko Royal Regency, Jl. Pahlawan No. 7 Blok R-16 Mojokerto, Jawa Timur. Telp. (0321) 333030 Fax. (0321) 333028

KCP SURABAYA AMPELJl. KH. Mas Mansyur No. 77, Surabaya, Jawa Timur. Telp. (031) 3574850, 3574851, 3574940 Fax. (031) 3537102

KCP TUBANJl. Basuki Rakhmat No. 278, Tuban, Jawa Timur. Telp. (0356) 333654, 333765 Fax. (0356) 332059

KCP JOMBANGRuko Cempaka Mas Blok A/9 Jl. Soekarno-Hatta No. 1, Jombang, Jawa Timur. Telp. (0321) 855527, 855528 Fax. (0321) 855526

KCP SURABAYA SUNGKONOKomplek Ruko Darmo Galeria,Jl. Mayjen Sungkono No. 75 Blok B-3, Surabaya. Telp. (031) 5632255, 5630380 Fax. (031) 5623496

KK SURABAYA JEMUR HANDAYANI Jl. Jemur Handayani No. 51, Surabaya, Jawa Timur. Telp. (031) 8411230, 8411250 Fax. (031) 8411260

KK SURABAYA TANJUNG PERAK Jl. Tanjung Perak Timur No. 564 Blok A/2, Surabaya, Jawa Timur. Telp. (031) 3285094, 3285301 Fax. (031) 3286917

KK SURABAYA MULYOSARIJl. Raya Mulyosari No. 24 C, Surabaya, Jawa Timur. Telp. (031) 5911284, 5911286 Fax. (031) 5949222

KK SURABAYA WIYUNGRuko Taman Pondok Indah Jl. Raya Wiyung No. A-24 Surabaya, Jawa Timur. Telp. (031) 7665621, 7673005 Fax. (031) 7661364

KLS SURABAYA DIPONEGOROKantor Cabang Bank MandiriJl. Raya Diponegoro No. 155, Surabaya, Jawa Timur. Telp. (031) 5676748 Fax. (031) 5676748

KLS SURABAYA KUSUMA BANGSA Kantor Cabang Bank Mandiri Jl. Kusuma bangsa No. 106, Surabaya,Jawa Timur. Telp. (031) 5350157 Fax. (031) 5350157

KLS SURABAYA JEMBATAN MERAH Kantor Cabang Bank Mandiri Jl. Jembatan Merah No. 25 - 27, Surabaya, Jawa Timur. Telp. (031) 3544928 Fax. (031) 3544928

PP SIDOARJO UMSIDAUniversitas Muhammadiyah, Jl. Majapahit No. 666 B, Sidoarjo, Jawa Timur. Telp. (031) 8959961 Fax. (031) 8959961

PP SIDOARJO AL MUSLIMYayasan Al Muslim,Jl. Raya Wadung Asri 39-F Waru Sidoarjo, Jawa Timur. Telp. (031) 60112416 Fax. (031) 8674386

PP SURABAYA ITATSKampus ITATS, Jl. Arif Rachman Hakim No. 100, Surabaya, Jawa Timur. Telp. (031) 5912381 Fax. (031) 5912381

PP PONPES QOMARUDIN\Yayasan Pondok Pesantren Qomaruddin (YPPQ), Jl. Raya Bungah 01, Bungah , Gresik, Jawa Timur.

PP RS. SITI KHODIJAH MUHAMMADIYAH Jl. Pahlawan No.260, Sepanjang,Sidoarjo, Jawa Timur Telp. (031) 7876065 Fax. (031) 7876065

KAS KELILING SURABAYAKota Surabaya dan sekitarnya

GERAI ONLINE SURABAYAMal Galaxy, Surabaya, Jawa Timur.

KC PAMEKASANJl. KH. Agus Salim No. 3A, Pamekasan, Jawa Timur. Telp. (0324) 331223, 331224 Fax. (0324) 331218

KCP BANGKALANJl. KH. Moh. Sholeh No. 52, Bangkalan, Jawa Timur Telp. (031) 3093380 Fax. (031) 3093379

KK SUMENEPJl. Trunojoyo No. 166, Sumenep,Jawa Timur. Telp. (0328) 664741, 673431 Fax. (0328) 669300

KC MAKASSARJl. Dr. Ratulangi No. 88 B-C-D, Makassar, Sulawesi Selatan. Telp. (0411) 833070 Fax. (0411) 833069, 8110442

KCP BONE Jl. Jend. Ahmad Yani No. 48 Watampone, Kab. Bone, Sulawesi Selatan. Telp. (0481) 28774 Fax. (0481) 28775

KCP MAKASSAR PANAKUKKANG Jl. Boulevard, Ruko Jasper II No. 11, Panakkukang Makassar, Sulawesi Selatan. Telp. (0411) 455151 Fax. (0411) 455152

KCP BULUKUMBAJl. Lanto Dg. Passewang No. 33, Bulukumba, Sulawesi Selatan Telp. (0413) 83088 Fax. (0413) 82099

KCP PARE PAREJl. Bau Massepe No. 419 D, Pare-pare, Sulawesi Selatan Telp. (0421) 26699 Fax. (0421) 26566

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KCP PALOPOJl. Andi Jemma, Palopo, Sulawesi Selatan Telp. (0421) 325936 Fax. (0421) 325929

KK MAKASSAR DAYAJl. Kapasa Raya No. 16, Makassar, Sulawesi Selatan. Telp. (0411) 4722422 Fax. (0411) 4722280

KLS MAKASSAR SULAWESIKantor Cabang Bank Mandiri Jl. Sulawesi No. 81 Makassar, Sulawesi Selatan. Telp. (0411) 335545 Fax. (0411) 331971

KLS MAKASSAR COKROAMINOTO Kantor Cabang Bank MandiriJl.H.O.S Cokroaminoto No.3, Makassar, Sulawesi Selatan. Telp. (0411) 334464 Fax. (0411) 334464

KLS MAKASSAR KARTINIKantor Cabang Bank Mandiri Jl. R.A Kartini No. 12-14, Makassar, Sulawesi Selatan. Telp. (0411) 325789 Fax. (0411) 325789

PP STAIN WATAMPONESekolah Tinggi Agama Islam Negeri (STAIN) Watampone Jl. HOS. Cokroaminoto,Watampone, Sulawesi Selatan. Telp. (0481) 22050 Fax. (0481) 22050

PP RS. IBNU SINARumah Sakit Ibnu Sina, Jl. Urip Sumoharjo No. 264 Km. 4, Makassar, Sulawesi Selatan. Telp. (0411) 420700 Fax. (0411) 420095

PP UNISMUHKampus Universitas Muhammadiyah Makassar, Jl. St. Alauddin No. 259, Makassar, Sulawesi Selatan.

KAS KELILING MAKASSARKota Makassar dan sekitarnya

KC BANJARMASINJl. Lambung Mangkurat No. 16 Banjarmasin, Kalimantan Selatan. Telp. (0511) 3366408, 3366409 Fax. (0511) 3366426

KCP BANJARMASIN A. YANIJl. Ahmad Yani Km. 4 No. 27, Banjarmasin, Kalimantan Selatan. Telp. (0511) 3250033,3250022 Fax. (0511) 3252974

KCP MARTAPURAJl. A. Yani KM 40 No. 5 Martapura, Kalimantan Selatan. Telp. (0511) 4722713, 4722755 Fax. (0511) 4722714

KCP BATULICINJl. Raya Batulicin RT. 24 No. 193 Kel Kampung Baru, Kec Batulicin, Kab Tanah Bumbu, Kalimantan Selatan. Telp. (0518) 70222, 75497 Fax. (0518) 75496

KCP BARABAIJl. Ir. PM. Noor, Barabai, Kalimantan Selatan. Telp. (0517) 44121, 44141 Fax. (0517) 41909

KK BANJARMASIN PS. CEMPAKA Jl. Niaga No. 7, Banjarmasin, Kalimantan Selatan. Telp. (0511) 3366008, 366009 Fax. (0511) 3361101

KK BANJARMASIN SENTRA ANTASARI Jl. P. Antasari No. 75, Banjarmasin, Kalimantan Selatan. Telp. (0511) 3269969, 3268188 Fax. (0511) 3254445

KK BANJARMASIN S. PARMANRS. Islam Banjarmasin (Eks-Siolatama), Jl. Suwondo Parman No. 88, Banjarmasin, Kalimantan Selatan. Telp. (0511) 3366033-3366034 Fax. (0511) 33560254

KK BANJARBARUJl. Ahmad Yani Km. 33,300, Banjarbaru, Kalimantan Selatan Telp. (0511) 4789947, 4789948 Fax. (0511) 4789949

KLS BANJARMASIN AHMAD YANI Kantor Cabang Bank Mandiri Jl. Ahmad Yani KM. 2 No. 4-5, Banjarmasin, Kalimantan Selatan. Telp. (0511) 3255829 Fax. (0511) 3255829

KLS BANJARMASIN SAMUDERAKantor Cabang Bank Mandiri Jl. Lambung Mangkurat No. 4, Banjarmasin, Kalimantan Selatan. Telp. (0511) 3364647 Fax. (0511) 3364647

PP BANJARMASIN POLIBANKomplek Politeknik Negeri Jl. Brigjend H. Hasan Basry, Banjarmasin, Kalimantan Selatan. Telp. (0511) 3304371 Fax. (0511) 3304372

PP BANJARMASIN SD MUHAMAMADIYAH SD Muhammadiyah VIII & X ,Jl. Cempaka I RT. 3, Kel Kertak Baru Ulu, Banjarmasin, Kalimantan Selatan. Telp. (0511) 3361808 Fax. (0511) 3361808

KAS KELILING BANJARMASIN Kota Banjarmasin dan sekitarnya.

KC BALIKPAPAN Jl. Jend. Sudirman No. 330, Balikpapan, Kalimantan Timur. Telp. (0542) 413382, 414630 Fax. (0542) 412109

KK BALIKPAPAN BARU Ruko Balikpapan Baru Blok C No. 1 B Jl. M.T. Haryono Balikpapan, Kalimantan Timur. Telp. (0542) 8870125, 8870149 Fax. (0542) 8870126

KLS BALIKPAPAN SUPRAPTOKantor Cabang Bank MandiriJl. Letjen Suprapto No. 1 Balikpapan, Kalimantan Timur. Telp. (0542) 425704 Fax. (0542) 425704

KAS KELILING BALIKPAPANKota Balikpapan dan sekitarnya. PT. CPI, Pasir Ridge, Balikpapan, Kalimantan Timur. KC MALANG Jl. Basuki Rachmad No. 8 Kayutangan, Malang, Jawa Timur. Telp. (0341) 362122 Fax. (0341) 347933

KCP PASURUANJl. Panglima Sudirman No. 14C, Pasuruan, Jawa Timur. Telp. (0343) 431588, 431589 Fax. (0343) 431618

KCP PROBOLINGGORuko Manunggal No. 7, Jl. Soekarno-Hatta, Probolinggo, Jawa Timur Telp. (0335) 428899 Fax. (0335) 420530

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KK MALANG BATUJl. Diponegoro 48 Kota Batu, Jawa Timur. Telp. (0341) 5025550, 5025551 Fax. (0341) 594273

KK KEPANJENJl. Ahmad Yani No. 103 B, Kepanjen, Malang, Jawa Timur Telp. (0284) 326049 Fax. (0284) 321295

PP MALANG KUCECWARAKampus STIE Malang Kucecwara, Jl. Candi Kalasan, Malang, Jawa Timur. Telp. (0341) 7788979 Fax. -

PP MTS MALANGMadrasah Tsanawiyah Negeri Malang 1 Jl. Bandung No. 7, Malang, Jawa Timur. Telp. (0341) 5464532 Fax. -

KC MATARAM Jl. Pejanggik No. 128 Cakranegara, Mataram, Nusa Tenggara Barat. Telp. (0370) 644888, 622300, 622700 Fax. (0370) 634999

KCP SUMBAWA Jl. Diponegoro No. 40, Sumbawa, Nusa Tenggara Barat. Telp. (0371) 22255 Fax. (0371) 625300

KCP MATARAM PANCOR Jl. TG KH. Muhammad Zainuddin Abdul Majid No.1, Pancor, Mataram, Nusa Tenggara Barat Telp. (0370) 23774 Fax. (0370) 23773

PP IAIN MATARAMKomplek Institut Agama Islam Negeri (IAIN), Nusa Tenggara Barat. Telp. (0370) 648666 Fax. (0370) 648666

KAS KELILING MATARAMKota Mataram dan sekitarnya

GERAI ONLINE MATARAMKandepag, Lombok Tengah, Mataram, Nusa Tenggara Barat.

KC SAMARINDA Jl. Jenderal Sudirman No. 24, Samarinda, Kalimantan Timur. Telp. (0541) 203012, 203013 Fax. (0541) 203017

KCP BONTANG Jl. MT. Haryono No. 53 Kodya Bontang, Kalimantan Timur. Telp. (0548) 20007 Fax. (0548) 25005

KCP TARAKAN Jl. Yos Sudarso No. 64, Tarakan,Kalimantan Timur. Telp. (0551) 35050 (Hunting) Fax. (0551) 35051

KK LAMBUNG MANGKURAT Jl. Lambung Mangkurat No.18 B, Samarinda, Kalimantan Timur Telp. (0541) 735444 Fax. (0541) 767459

KLS SAMARINDA KESUMA BANGSA Kantor Cabang Bank Mandiri Jl. Kesuma Bangsa No. 76 Samarinda, Kalimantan Timur. Telp. (0541) 732732 Fax. (0541) 732732

KC PALU Jl. Gajahmada No. 77 Palu, Sulawesi Tengah. Telp. (0451) 426222 Fax. (0451) 452108

KCP LUWUK Jl. Jenderal Ahmad Yani No. 112, Luwuk Kabupaten Banggai, Sulawesi Tengah. Telp. (0461) 21214, 22779 Fax. (0461) 325456

KCP PARIGI MOUTONGJl. Trans Sulawesi, Palu, Sulawesi Tengah. Telp. (0450) 21345, 21402, 21403, 21409 Fax. (0450) 21411

KK PALU PLAZA Komplek Palu Plaza Blok IV, Jl. Sis Al Jufri, Palu, Sulawesi Tengah Telp. (0451) 427769, 426093, 426721 Fax. (0451) 426182

KLS PALU SAM RATULANGIKantor Cabang Bank Mandiri Jl. Dr. Sam Ratulangi No. 60 Palu, Sulawesi Tengah. Telp. (0451) 454999 Fax. (0451) 452666

KC KUTAI Jl. KH. Ahkmad Muksin No. 29 Tenggarong, Kab. Kutai, Kalimantan Timur. Telp. (0541) 665362, 665365 Fax. (0541) 665361

KC KEDIRIJl. Brawijaya No. 10, Kediri, Jawa Timur. Telp. (0354) 672000 Fax. (0354) 672105

KCP TULUNGAGUNG Jl. Ahmad Yani Timur No.39 Tulungagung, Jawa Timur. Telp. (0355) 334455 Fax. (0355) 333130

KCP MADIUN Jl. Cokroaminoto No. 41, Madiun, Jawa Timur. Telp. (0351) 454000 Fax. (0351) 458300

KC JEMBER Jl. Panglima Besar Sudirman No. 41-43, Jember, Jawa Timur. Telp. (0331) 411522 Fax. (0331) 411525

KK BALUNG Jl. Rambipuji No. 78 Kab. Jember, Jawa Timur. Telp. (0336) 621717 Fax. (0336) 621711

PP UNMUH-JEMBER Universitas Muhammadiyah Jember Jl. Karimata No. 49 Jember, Jawa Timur. Telp. (0331) 335806 Fax. (0331) 335806

PP STAIN-JEMBER Sekolah Tinggi Agama Islam Negeri Jember Jl. Jum’at No. 94, Mangil ,Jember, Jawa Timur. Telp. (0331) 411500 Fax. (0331) 411500

KC MANADO Kawasan Mega Mas, Jl. Piere Tendean, Boulevard Blok I D-1 No.28, Manado, Sulawesi Utara. Telp. (0431) 879444 Fax. (0431) 879492

KC DENPASAR Teuku Umar Square. Jl. Teuku Umar No. 177 Denpasar, Bali. Telp. (0361) 231999 Fax. (0361) 237100

KCP BULELENG Jl. Erlangga No.14, Buleleng, Bali. Telp. (0362) 32666, 25968, 25969 Fax. (0362) 27747

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KK DENPASAR KUTA Jl. Raya Legian No. 448, Kuta, Badung, Bali. Telp. (0361) 754222 Fax. (0361) 763415

KC JAYAPURA Komplek Perniagaan Kelapa Dua - Entrop Jl. Raya Kelapa Dua No. 1-2, Entrop, Jayapura, Papua. Telp. (0967) 550965, 550966 Fax. (0967) 550968

KC BANYUWANGI Jl. Basuki Rakhmat No. 30 Banyuwangi, Jawa Timur. Telp. (0333) 418624, 252627 Fax. (0333) 418628

KC GORONTALO Jl. Ahmad Yani No. 127, Gorontalo Telp. (0435) 828666 Fax. (0435) 830056

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PT Bank Syariah Mandiri Financial statements with independent auditors’ report year ended December 31, 2009 with comparative figures for December 31, 2008

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These financial statements are originally issued in Indonesian language.

PT BANK SYARIAH MANDIRI FINANCIAL STATEMENTS

WITH INDEPENDENT AUDITORS’ REPORT YEAR ENDED DECEMBER 31, 2009

WITH COMPARATIVE FIGURES FOR DECEMBER 31, 2008

Table of Contents Page Independent Auditors’ Report Balance Sheets……………................................................................................................................ 1 - 5 Statements of Income……………………............................................................................................ 6 - 7 Statements of Changes in Shareholders’ Equity................................................................................ 8 Statements of Cash Flows........................……………………………….……………………………..… 9 - 10 Statements of Changes in Restricted Investments………………...................................................... 11 Statements of Reconciliation of Income and Profit Sharing.............................................................. 12 Statements of Sources and Uses of Zakat Funds.……..................................................................... 13 Statements of Sources and Uses of Qardhul Hasan Funds............................................................... 14 Notes to the Financial Statements............................…………………………………….………………. 15 - 85

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The accompanying notes form an integral part of these financial statements. 1

PT BANK SYARIAH MANDIRI BALANCE SHEETS December 31, 2009

With Comparative Figures for December 31, 2008 (Expressed in Rupiah, unless otherwise stated)

Notes 2009 2008

ASSETS CASH 2a 446,935,114,146 315,746,897,022 CURRENT ACCOUNTS AND PLACEMENTS WITH BANK INDONESIA 2a,2d,3 3,340,886,513,736 2,120,005,704,839 CURRENT ACCOUNTS WITH OTHER BANKS 2a,2b,2c, 2e,4,37 Third parties 178,191,993,115 245,682,590,355 Related party 94,978,790,309 60,115,911,775

Total current accounts with other banks 273,170,783,424 305,798,502,130

Allowance for possible losses (2,741,346,825) (3,057,985,021)

Net 270,429,436,599 302,740,517,109 PLACEMENTS WITH OTHER BANKS 2c,2f,5 Third parties 217,975,000,000 30,000,000,000 Allowance for possible losses (2,179,750,000) (300,000,000)

Net 215,795,250,000 29,700,000,000

INVESTMENT IN SECURITIES/ MARKETABLE SECURITIES 2c,2g,6 Net of difference between acquisition costs and unamortized discount/(premium) of Rp11,805,307,768 and (Rp7,921,189,956) as of December 31, 2009 and 2008, respectively Third parties Held to maturity 2,014,159,085,202 1,265,096,511,924 Available-for-sale 9,853,691,959 8,765,496,599

Total investment in securities/ marketable securities 2,024,012,777,161 1,273,862,008,523 Allowance for possible losses (17,010,179,780) (12,738,620,085)

Net 2,007,002,597,381 1,261,123,388,438

RECEIVABLES 2b,2c,2h,7,37 Murabahah Net of deferred margin income of Rp2,867,866,573,893 and Rp2,302,287,616,689 as of December 31, 2009 and 2008, respectively Third parties 8,110,239,048,474 6,792,039,968,918 Related parties 4,288,223,429 2,898,441,472

Total murabahah receivables 8,114,527,271,903 6,794,938,410,390

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PT BANK SYARIAH MANDIRI BALANCE SHEETS (continued)

December 31, 2009 With Comparative Figures for December 31, 2008 (Expressed in Rupiah, unless otherwise stated)

Notes 2009 2008

RECEIVABLES (continued) Istishna

Net of deferred margin income of Rp81,839,732,948 and Rp85,560,204,587 as of December 31, 2009 and 2008, respectively Third parties 175,934,334,874 141,760,810,729 Ijarah receivables Third parties 4,532,461,803 2,134,475,730

Total receivables 8,294,994,068,580 6,938,833,696,849 Allowance for possible losses (472,013,003,096) (272,317,834,598)

Net 7,822,981,065,484 6,666,515,862,251

FUNDS OF QARDH 2c,2j,8 Third parties 1,066,811,728,459 618,845,394,357 Allowance for possible losses (15,399,245,623) (6,821,407,540)

Net 1,051,412,482,836 612,023,986,817 FINANCING Mudharabah 2c,2i,9 Third parties 3,338,842,556,078 2,963,646,871,612 Allowance for possible losses (63,393,787,234) (37,575,801,304)

Net 3,275,448,768,844 2,926,071,070,308 Musyarakah 2c,2i,10 Third parties 3,256,612,594,350 2,613,729,398,339 Allowance for possible losses (255,766,593,495) (256,539,526,244)

Net 3,000,846,000,855 2,357,189,872,095 Total financing 6,595,455,150,428 5,577,376,269,951 Allowance for possible losses (319,160,380,729) (294,115,327,548)

Net 6,276,294,769,699 5,283,260,942,403 ASSETS ACQUIRED FOR IJARAH 2k,11 Acquisition cost 219,355,664,340 269,424,721,529 Accumulated depreciation (113,244,117,512) (123,965,948,458)

Net 106,111,546,828 145,458,773,071 FIXED ASSETS 2m,12 Acquisition cost 441,582,683,357 383,675,892,119 Accumulated depreciation (217,368,390,341) (191,659,670,108)

Net book value 224,214,293,016 192,016,222,011

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PT BANK SYARIAH MANDIRI

BALANCE SHEETS (continued) December 31, 2009


Notes 2009 2008

OTHER ASSETS Deferred tax assets 2ac 33,593,789,887 11,509,811,877 Foreclosed assets 26,214,839,057 26,765,759,057 Allowance for possible losses (26,214,839,057) (22,300,000,000)

Net - 4,465,759,057 Others 2c,2n,13 240,877,655,503 121,370,120,350

Total other assets 274,471,445,390 137,345,691,284

TOTAL ASSETS 22,036,534,515,115 17,065,937,985,245

LIABILITIES, TEMPORARY SYIRKAH FUNDS AND SHAREHOLDERS’ EQUITY LIABILITIES LIABILITIES DUE IMMEDIATELY Third parties 2b,2p,14 277,238,527,620 167,518,809,859 Related parties 16,589,031,715 14,295,145,760

Total 293,827,559,335 181,813,955,619 UNDISTRIBUTED THIRD PARTIES’ SHARE ON RETURN OF TEMPORARY SYIRKAH FUNDS AND BONUS 2w,15 75,163,077,459 71,210,802,229 WADIAH DEPOSITS 2b,2q,16,37 Wadiah demand deposits Third parties 2,585,721,771,303 1,812,310,538,264 Related parties 52,419,628 14,613,102 Wadiah saving deposits Third parties 95,244,134,318 38,359,066,090

Total wadiah deposits 2,681,018,325,249 1,850,684,217,456 DEPOSITS FROM OTHER BANKS 2r,17 Wadiah demand deposits 10,664,024,854 11,695,605,998 Interbank Mudharabah Investment Certificate (SIMA) 45,000,000,000 -

Total deposits from other banks 55,664,024,854 11,695,605,998 TAXES PAYABLE 2ac,18 70,533,425,027 33,807,859,456

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Notes 2009 2008

ESTIMATED LOSSES ON COMMITMENTS AND CONTINGENCIES 2c,19 2,584,896,749 2,421,503,740 OTHER LIABILITIES 20 94,674,598,216 191,139,321,090

TOTAL LIABILITIES 3,273,465,906,889 2,342,773,265,588 SUBORDINATED NOTES ISSUED 1b,2s,21 200,000,000,000 200,000,000,000 TEMPORARY SYIRKAH FUNDS 2b,2t,22,37 Non-bank Restricted investments Third parties Demand deposits 4,490,810,000 - Saving deposits 165,252,136,545 89,760,806,285

Total restricted investments 169,742,946,545 89,760,806,285 Unrestricted investment mudharabah saving deposits Third parties 6,896,411,027,576 5,153,102,513,733 Related parties 5,984,026,306 2,777,449,456

Total unrestricted investment mudharabah saving deposits 6,902,395,053,882 5,155,879,963,189 Unrestricted investment mudharabah time deposits Third parties 9,581,207,656,147 7,800,101,802,769 Related parties 2,554,063,095 2,260,161,519

Total unrestricted investment mudharabah time deposits 9,583,761,719,242 7,802,361,964,288

Total temporary syirkah funds non-bank 16,655,899,719,669 13,048,002,733,762 Bank Unrestricted investment mudharabah saving deposits Third parties 98,238,934,434 48,352,825,331 Unrestricted investment mudharabah time deposits Third parties 207,639,580,500 218,380,534,955

Total temporary syirkah funds bank 305,878,514,934 266,733,360,286 Musyarakah - mudharabah musytarakah demand deposits

Third parties 830,924,001 -

TOTAL TEMPORARY SYIRKAH FUNDS 16,962,609,158,604 13,314,736,094,048

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Notes 2009 2008

SHAREHOLDERS’ EQUITY

Share capital - Rp5,000 par value per shares as of December 31, 2009 and 2008 Authorized capital - 200,000,000 shares as of December 31, 2009 and 2008 Issued and fully paid-up capital 131,648,713 shares as of December 31, 2009 and 111,648,713 shares as of December 31, 2008 23 658,243,565,000 558,243,565,000 Unrealized gain on available-for-sale securities 1,853,691,959 765,496,599 Retained earnings Appropriated 24 206,993,157,660 206,993,157,660 Unappropriated 733,369,035,003 442,426,406,350

TOTAL SHAREHOLDERS’ EQUITY 1,600,459,449,622 1,208,428,625,609

TOTAL LIABILITIES, TEMPORARY SYIRKAH FUNDS AND SHAREHOLDERS’ EQUITY 22,036,534,515,115 17,065,937,985,245

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PT BANK SYARIAH MANDIRI STATEMENTS OF INCOME

Year Ended December 31, 2009 With Comparative Figures for December 31, 2008 (Expressed in Rupiah, unless otherwise stated)

Notes 2009 2008

INCOME FROM FUND MANAGEMENT BY BANK AS MUDHARIB Income from sales and purchases Murabahah margin income 940,223,315,972 824,274,868,266 Istishna income-net 15,549,823,696 12,226,443,738

Total income from sales and purchases 2u,27 955,773,139,668 836,501,312,004 Income from rent Ijarah income-net 2u,27 15,913,019,709 15,240,458,413 Income from profit sharing 27 Mudharabah income 462,263,419,016 443,355,991,550 Musyarakah income 336,319,965,525 260,521,405,989

Total Income from profit sharing 2u,27 798,583,384,541 703,877,397,539 Other main operating income 2v,27 300,752,744,287 180,770,412,465 Total income from fund management by bank as mudharib 2,071,022,288,205 1,736,389,580,421 THIRD PARTIES’ SHARE ON RETURN OF TEMPORARY SYIRKAH FUNDS 2w,28 (901,569,546,404) (767,684,459,980) OTHER OPERATING INCOME Fee based income from banking services 333,586,530,676 285,181,367,160 Return on restricted investments 13,385,773,685 15,805,054,563

Total other operating income 2y,29 346,972,304,361 300,986,421,723 OPERATING EXPENSES Personnel 30 395,187,600,190 294,251,847,398 Administrative 31,50 314,854,534,886 238,980,848,715 Allowance for possible losses on earning assets 2c,32 258,362,677,808 309,296,454,975 Fixed assets depreciation 31,397,946,844 31,999,962,799 Profit sharing for subordinates notes issued 25,484,451,339 26,577,252,768 Allowance for possible losses on non- earning assets 2c,32 3,914,839,057 24,300,000,000 Estimated losses on commitments and contingencies 2c,32 63,421,747 796,521,129 Other operating expenses: 33 Bonus for wadiah deposits 20,409,291,003 19,560,249,140 Others 40,601,070,065 41,102,595,726

Total operating expenses 1,090,275,832,939 986,865,732,650

OPERATING INCOME 426,149,213,223 282,825,809,514

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PT BANK SYARIAH MANDIRI STATEMENTS OF INCOME (continued)


Notes 2009 2008

NON OPERATING INCOME AND EXPENSES 34 Non operating income 8,473,547,461 8,651,995,270 Non operating expenses (455,671,875) (4,506,496,864)

Total non operating income and expenses 8,017,875,586 4,145,498,406 INCOME BEFORE ZAKAT AND INCOME TAX 434,167,088,809 286,971,307,920

ZAKAT 40 (15,764,575,726) (2,886,379,952) INCOME BEFORE INCOME TAX 418,402,513,083 284,084,927,968 INCOME TAX BENEFIT/(EXPENSE) Current 2ac,18 (149,543,862,440) (89,370,886,100) Deferred 22,083,978,010 1,701,898,359

Total income tax expense-net (127,459,884,430) (87,668,987,741)

NET INCOME 290,942,628,653 196,415,940,227 BASIC EARNINGS PER SHARE 2ad 2,210 1,759

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PT BANK SYARIAH MANDIRI STATEMENTS OF CHANGES IN SHAREHOLDER’S EQUITY


Unrealized Retained Rearnings Gain Issued and On Available- Total Fully Paid-up for-Sale Shareholders’ Notes Capital Securities Appropriated Unappropriated Equity

Balance as of December 31, 2007 358,372,565,000 - 206,993,157,660 246,010,466,123 811,376,188,783 Issuance of shares 26 199,871,000,000 - - - 199,871,000,000 Unrealized gain on available-for-sale securities - - - 765,496,599 765,496,599 Net income for 2008 - - - 196,415,940,227 196,415,940,227

Balance as of December 31, 2008 558,243,565,000 - 206,993,157,660 443,191,902,949 1,208,428,625,609 Reclassification of unrealized gain on available-for-sale securities - 765,496,599 - (765,496,599) - Issuance of shares 26 100,000,000,000 - - - 100,000,000,000 Unrealized gain on available-for-sale securities - 1,088,195,360 - - 1,088,195,360 Net income for 2009 - - - 290,942,628,653 290,942,628,653

Balance as of December 31, 2009 658,243,565,000 1,853,691,959 206,993,157,660 733,369,035,003 1,600,459,449,622

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PT BANK SYARIAH MANDIRI STATEMENTS OF CASH FLOWS Year Ended December 31, 2009


Notes 2009 2008

CASH FLOWS FROM OPERATING ACTIVITIES Receipts from profit sharing, sales and purchases, rent, and other main operations 1,770,269,543,918 1,727,511,293,420 Payments of profit sharing on temporary syirkah funds income (901,678,066,753) (723,505,845,352) Receipts from other operating income 647,725,048,648 300,986,421,723 Receipts from financing and recovery of receivable written off 35,367,325,529 34,328,628,519 Payments of personnel expenses (387,330,962,581) (290,788,191,456) Payments of tantiem 25 (7,856,637,609) (3,463,655,942) Payments for operating expenses excluding personnel cost (385,706,620,227) (296,038,650,095) Payments of tax (130,685,437,825) (87,668,987,741) Payments of zakat (2,891,297,138) (7,656,691) Distribution of qardhul hasan funds (3,201,712,500) (1,459,231,214) Receipts of non-operating income 4,705,121,746 3,866,189,904 Decrease/(increase) in operating assets: Current accounts and placements with Bank Indonesia (1,076,000,000,000) (635,000,000,000) Placements with other banks (186,411,888,176) 154,101,086,021 Receivables (1,485,562,532,419) (1,881,608,886,744) Funds of qardh (439,388,496,019) (89,659,569,816) Mudharabah financing (349,377,698,586) (611,418,826,308) Musyarakah financing (643,656,128,516) (484,253,915,095) Assets acquired for ijarah 39,347,226,243 17,210,952,929 Other assets (115,041,775,502) (7,903,079,286) Increase (decrease) in operating liabilities: Liabilities due immediately 141,501,615,749 49,489,565,000 Wadiah deposits 830,334,107,793 (7,043,029,544) Deposits from other banks 43,968,418,856 (5,816,764,002) Liabilities to other banks (5,527,861,436) 1,129,363,454 Taxes payable - 20,367,403,456 Other liabilities (92,240,535,010) (62,769,880,250) Increase in temporary syirkah funds Unrestricted investments 3,567,060,000,083 3,797,573,093,763 Restricted investments 79,982,140,545 89,760,806,286 Musyarakah investments 830,924,001 -

Net cash provided by operating activities 948,533,822,814 1,007,918,634,939

CASH FLOWS FROM INVESTING ACTIVITIES Purchase of available-for-sale and held to maturity securities (744,791,013,422) (481,948,518,438) Acquisition of fixed assets 12 (63,614,255,917) (21,424,764,169) Proceeds from sales of fixed assets 12 3,312,753,840 279,308,660

Net cash used in investing activities (805,092,515,499) (503,093,973,947)

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The accompanying notes form an integral part of these financial statements.

10

PT BANK SYARIAH MANDIRI STATEMENTS OF CASH FLOWS (continued)


Notes 2009 2008

CASH FLOWS FROM FINANCING ACTIVITIES Securities issued - (200,000,000,000) Additional paid in capital 26 100,000,000,000 100,000,000,000

Net cash provided by/(used in) financing activities 100,000,000,000 (100,000,000,000)

NET INCREASE IN CASH AND CASH EQUIVALENTS 243,441,307,315 404,824,660,992 CASH AND CASH EQUIVALENTS AT THE BEGINNING OF YEAR 1,436,551,103,991 1,031,726,443,000

CASH AND CASH EQUIVALENTS AT END OF YEAR 1,679,992,411,306 1,436,551,103,992

Cash and cash equivalents at end of year consist of: Cash 446,935,114,146 315,746,897,022 Current accounts with Bank Indonesia 3 959,886,513,736 815,005,704,839 Current accounts with other banks 4 273,170,783,424 305,798,502,130

Total 1,679,992,411,306 1,436,551,103,991

ACTIVITY NOT AFFECTING CASH FLOWS Additional paid in capital-in the form of fixed assets (inbreng) 26 - 99,871,000,000

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The accompanying notes form an integral part of these consolidated financial statements.

11

PT BANK SYARIAH MANDIRI STATEMENTS OF CHANGES IN RESTRICTED INVESTMENTS


Notes 2009 2008

Balance at beginning of year 2a 270,647,308,660 291,710,424,358 Receipt of restricted investments 112,778,112,143 109,336,339,396 Return from restricted investments 23,289,915,495 26,356,799,407 Bank’s fees as investment agent 29 (13,385,773,685) (15,805,054,563) Withdrawal of restricted investments (118,099,849,352) (140,951,199,938)

Balance at end of year 42 275,229,713,261 270,647,308,660

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12

PT BANK SYARIAH MANDIRI STATEMENTS OF RECONCILIATION OF INCOME

AND PROFIT SHARING Year Ended December 31, 2009


Notes 2009 2008

Main operating income (accrual) 2a,2u,27 2,071,022,288,205 1,736,389,580,421 Deduction: Income during the year in which cash or cash equivalents have not been received: Murabahah margin income 7 44,672,768,106 27,632,169,204 Income from sukuk 29,435,406,445 - Income from amortization of differences between acquisition costs and nominal amounts for investments in securities/ marketable securities 9,517,664,790 - Rent income 7 4,532,461,803 2,134,475,730 Income from Certificate of Bank Indonesia Syariah 3,186,689,584 -

Total deduction 91,344,990,728 29,766,644,934 Addition: Income from previous year in which cash or cash equivalents have been received in current year: Receipt from receivable settlement: Murabahah margin 7 27,632,169,204 18,467,066,360 Rent income 7 2,134,475,730 2,421,291,189

Total addition 29,766,644,934 20,888,357,549 Available operating income for profit sharing 2a 2,009,443,942,411 1,727,511,293,036 Profit sharing attributable to Bank 1,107,874,396,007 959,826,833,056 Profit sharing attributable to depositors 28 901,569,546,404 767,684,459,980 Distributed profit sharing attributable to depositors 828,316,438,735 698,141,107,356 Undistributed profit sharing attributable to depositors 15 73,253,107,669 69,543,352,624

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13

PT BANK SYARIAH MANDIRI STATEMENTS OF SOURCES AND USES OF ZAKAT FUNDS


Notes 2009 2008

Sources of zakat funds 2a,2x,40 Zakat from the Bank 15,764,575,726 2,886,379,952 Zakat from non Bank 1,132,735,235 1,004,985,028 Zakat from the Bank’s employees 1,588,448,713 367,238,424

Total sources of zakat funds 18,485,759,674 4,258,603,404

Uses of zakat funds Distributed through Lembaga Amil Zakat BSM Ummat 40 2,891,297,138 7,656,691

Total uses of zakat funds 2,891,297,138 7,656,691

Increase of zakat funds 15,594,462,536 4,250,946,713 Beginning balance of zakat funds 5,067,517,613 816,570,900

Ending balance of zakat funds 20,661,980,149 5,067,517,613

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14

PT BANK SYARIAH MANDIRI STATEMENTS OF SOURCES AND USES OF QARDHUL HASAN FUNDS


Notes 2009 2008

Sources of qardhul hasan funds 2a Penalties 41 631,814,078 2,151,357,482 Non-halal revenue 14 519,767,031 223,252,164 Other social funds 2e 710,972,099 -

Total sources of qardhul hasan funds 1,862,553,208 2,374,609,646

Uses of qardhul hasan funds distributed through Lembaga Amil Zakat BSM Ummat 41 3,201,712,500 1,459,231,214

Total uses of qardhul hasan funds 3,201,712,500 1,459,231,214

Foreign exchange (losses)/gains (95,666,572) 55,191,974 (Decrease)/increase in qardhul hasan funds (1,434,825,864) 970,570,406 Beginning balance of qardhul hasan funds 3,020,104,608 2,049,534,202

Ending balance of qardhul hasan funds 1,585,278,744 3,020,104,608

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PT BANK SYARIAH MANDIRI NOTES TO FINANCIAL STATEMENTS

Year Ended December 31, 2009 With Comparative Figures for December 31, 2008 (Expressed in Rupiah unless otherwise stated)

15

1. GENERAL

a. Background PT Bank Syariah Mandiri (“the Bank”) was initially established under the name of PT Bank Industri Nasional, abbreviated as PT BINA or also known as PT National Industrial Banking Corporation Ltd., having its head office in Jakarta, based on notarial deed No.115 dated June 15, 1955 of Meester Raden Soedja, S.H., Notary in Jakarta. The notarial deed was approved by the Minister of Law and Human Rights of the Republic of Indonesia (formerly known as the Minister of Law of the Republic of Indonesia) in his decision letter No.J.A.5/69/23 dated July 16, 1955, and registered in the South Jakarta District Court Office South Jakarta No.1810 dated October 6, 1955 and published in the State Gazette No.37 dated May 8, 1956 as Supplement No.390. In accordance with the amendment of Articles of Association No.12 dated April 6, 1967 which was amended with Articles of Association No.37 dated October 4, 1967, both of which were made before Adlan Yulizar, S.H., Notary in Jakarta, and which have been published in the State Gazette No.34 dated April 29, 1969 as Supplement No.55, the Bank changed its name from PT Bank Industri Nasional, abbreviated as PT BINA or also known as PT National Industrial Banking Corporation Ltd., into PT Bank Maritim Indonesia. In accordance with the Minutes of Meeting No.146 dated August 10, 1973, which was notarized under notarial deed No.146 of Raden Soeratman, S.H. Notary in Jakarta, which has been published in the State Gazette No.79 dated October 1, 1974, as Supplement No.554, the Bank's name was changed from PT Bank Maritim Indonesia into PT Bank Susila Bakti. In accordance with Notarial Deed of Decision of Meeting No.29 dated May 19, 1999 of Machrani Moertolo Soenarto, S.H., Notary in Jakarta, which was approved by the Minister of Law of the Republic of Indonesia in his decision letter No.C2-1210.HT.01.04.TH 99 dated July 1, 1999 and was published in the State Gazette No.87 dated October 31, 2000 as Supplement No.6587, the Bank changed its name from PT Bank Susila Bakti into PT Bank Syariah Sakinah Mandiri. In accordance with Notarial Deed of Decision of Meeting No.7 dated July 7, 1999 of Machrani Moertolo Soenarto, S.H., Notary in Jakarta, which was revised with notarial deed of minutes of meeting No.6 dated July 22, 1999 and notarial deed of minutes of meeting No.9 dated July 23, 1999, both of which were made before Hasanal Yani Ali Ami, S.H., Notary in Jakarta, and Notarial Deed of Decision of Meeting of changes in Articles of Association No.23 dated September 8, 1999 of Sutjipto, S.H., Notary in Jakarta, which was approved by the Minister of Law of the Republic of Indonesia in his decision letter No.16495.HT.01.04.TH 99 dated September 16, 1999 and was published in the State Gazette No.87 dated October 31, 2000 as Supplement No.6588, the Bank changed its name from PT Bank Syariah Sakinah Mandiri into PT Bank Syariah Mandiri. The Bank was granted a license, based on the Governor of Bank Indonesia's decision letter No.1/24/KEP.GBI/1999 dated October 25, 1999, as a commercial bank under Islamic principles and commenced its operation on November 1, 1999. In accordance with Notarial Deed of Decision of Meeting No.38 dated March 10, 2000 of Lia Muliani, S.H., Notary in Jakarta, in lieu of Sutjipto, S.H., Notary in Jakarta, the Bank changed the amount of its capital stock, of which change was approved by the Minister of Law and Human Rights of the Republic of Indonesia in his decision letter No.C-11545.HT.01.04.TH.2000 dated June 6, 2000 and was published in the State Gazette No.87 dated October 31, 2000 as Supplement No.6589.

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16

1. GENERAL (continued)

a. Background (continued) In 2006, the amendment to the articles of association as stated in the Notarial Deed of Decision of Meeting of PT Bank Syariah Mandiri No.59 dated May 17, 2006 of Imas Fatimah, S.H., Notary in Jakarta, has been published in the State Gazette No.74 dated September 15, 2006 as Supplement No.960. In 2008, there has been an increase in the issued and fully paid-up capital paid by PT Bank Mandiri (Persero) Tbk. of Rp100,000,000,000 through the issuance of shares totaling 20,000,000 shares with a par value of Rp5,000. These changes have been outlined in the Notarial Deed No. 10 dated June 19, 2008 of Badarusyamsi, SH., Notary in Jakarta and was approved by the Ministry of Law and Human Rights of the Republic of Indonesia under his letter No. AHU-52791.AH.01.02. year 2008 regarding Amendment of the Bank’s Articles of Association, and published in the State Gazette of the Republic of Indonesia No. 72 dated September 5, 2008, as Supplement No. 17106. The Bank has changed and amended its articles of association to comply with the Law No. 40 year 2007 regarding Limited Liability Company as stated in Notarial Deed No.18 dated June 14, 2008, of Lenny Janis Ishak, SH, Notary in Jakarta. The amendment was approved by the Minister of Law and Human Rights of the Republic of Indonesia through his Letter No. AHU-729922.01.02 year 2008, dated October 13, 2008. In accordance with the Shareholders’ Extraordinary Meeting held on December 31, 2008, the shareholders approved to increase the Bank shares capital amounting Rp199,871,000,000 or 39,974,200 shares. All of the shares were taken by PT Bank Mandiri (Persero) Tbk. The payments of shares were as follows: a. The amount of Rp100,000,000,000 was fully paid-up in cash b. The amount of Rp99,871,000,000 was fully paid-up using non cash (inbreng) in the form of land

and building owned by PT Bank Mandiri (Persero) Tbk. The non-cash capital contribution (inbreng) amounting to Rp99,871,000,000 was fully paid on December 31, 2008 and cash capital contribution amounting to Rp100,000,000,000 was fully paid on January 5, 2009. Those capital contributions were stipulated in the Notarial Deed No. 211 dated December 31, 2008 by Aulia Taufani, SH as a Notary in Lieu of Sutjipto S.H. Notary in Jakarta, which notice has been received and recorded in the database of Legal Administration System (Sisminbakum) Department of Law and Human Rights of the Republic of Indonesia on February 23, 2009 No. AHU-AH.01.01-00922 regarding receipt of notice of the amendment of articles of association of PT Bank Syariah Mandiri. The Bank's head office is located at Jalan M.H. Thamrin No.5 Jakarta 10340. As of December 31, 2009, the Bank has 61 branches, 107 sub branches, 95 cash offices, 51 payment points, 49 syariah service offices, 13 mobile cash offices and 14 counters. Based on the Notarial Deed of Decision of the meeting of PT Bank Syariah Mandiri No. 10 dated June 19, 2008 of Badarusyamsi, S.H., M.Kn., Notary in Jakarta, the composition of the Syariah Supervisory Board as of June 19, 2008 until the closing of the third General Shareholders Meeting effective from their appointment is as follows:

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17


a. Background (continued)

2009 2008 The Syariah

Supervisory board

Chairman: Prof. K.H. Ali Yafie Prof. K.H. Ali Yafie Member: Drs. Mohamad Hidayat, MBH. MH. Drs. Mohamad Hidayat, MBH. MH. Member: Dr. M. Syafii Antonio, M.Ec. Dr. M. Syafii Antonio, M.Ec.

According to the Bank Indonesia regulation No.11/3/PBI/2009 dated January 29, 2009 regarding Commercial Banks based on syariah principle, the duties, authorities and responsibilities of Syariah Supervisory Board (SSB) include: 1) SSB is responsible to provide advice and suggestions to the Board of Directors and overseeing

the activities of the Bank to comply with Syariah principles. 2) The performance of duties and responsibilities of the SSB as referred to in point 1) include:

a) Assess and ensure Syariah compliance of operational guidelines and products issued by the Bank

b) Monitoring the Bank's new product development process c) Request fatwa to the National Syariah Board for new products that previously have no fatwa d) Periodic review for compliance with Syariah principles of the funding mechanism,

channeling of funds, and the Bank’s services and e) Request for data and information related to the syariah aspects of the Bank’s working units

in the implementation of their duties

Based on the Shareholders’ Annual General Meeting and the Shareholders’ Extraordinary General Meeting dated June 19, 2008, which minutes of meeting were notarized under the Notarial Deed of Shareholders’ Annual General Meeting No. 10 and the Shareholders’ Annual General Meeting and the Shareholders’ Extraordinary General Meeting dated June 19, 2007 which minutes of meeting were notarized under the Notarial Deed of Minutes of Annual General Meeting of Shareholders of PT Bank Syariah Mandiri No. 118 and the letter of Bank Indonesia No. 9/11/DpG/DPbs dated July 13, 2007, the composition of the Board of Commissioners and the Board of Directors of the Bank as of December 31, 2009 and 2008, is as follows:

2009 2008

Board of Commissioners Head of Commissioner: Achmad Marzuki Achmad Marzuki Commissioner: Abdillah Abdillah Commissioner: Tardi Tardi Commissioner: Lilis Kurniasih Lilis Kurniasih

2009 2008

Board of Directors Head of Director: Yuslam Fauzi Yuslam Fauzi Director: Hanawijaya Hanawijaya Director: Amran P. Nasution Amran P. Nasution Director: Zainal Fanani Zainal Fanani Director: Srie Sulistyowati Srie Sulistyowati Director: Sugiharto Sugiharto

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a. Background (continued)

Based on Notarial Deed of Decision of Meeting of PT Bank Syariah Mandiri No. 59 dated May 17, 2006 of Imas Fatimah, S.H., Notary in Jakarta, which was published in the State Gazette No. 74 dated September 15, 2006 as Supplement No. 960, the terms of President Commissioner and President Director were changed into Head of Commissioner and Head of Director, as well as changes in the duties, authority and responsibility of the Sharia Supervisory Board, which were revised in accordance with the prevailing rules and regulations.

The composition of the audit committee, risk monitoring committee and remuneration and nomination committee as of December 31, 2009 and 2008 are as follows: 2009 2008 Audit Committee Chairman: Abdillah Abdillah Member: Kasmadi Adrianto Kasmadi Adrianto Member: Tjeppy Kustiwa Tjeppy Kustiwa Risk Monitoring Committee

Chairman: Abdillah Abdillah Member: Lilis Kurniasih Lilis Kurniasih Member: Kasmadi Adrianto Kasmadi Adrianto Member: Tjeppy Kustiwa Tjeppy Kustiwa Remuneration and Nomination Committee

Chairman: Achmad Marzuki Achmad Marzuki Member: Abdillah Abdillah Member: Tardi Tardi Member: Achmad Fauzi Achmad Fauzi Member: Eka Bramantya Danuwirana Helmi Huseno Member: - M. Haryoko

Salaries and other compensation paid to the Board of Directors, Board of Commissioners and Syariah Supervisory Board as of December 31, 2009 and December 31, 2008 are as follows: 2009 2008

Board of Directors 11,157,516,770 7,560,201,712 Board of Commissioners 3,249,411,754 2,135,961,810 Syariah Supervisory Board 351,000,000 405,000,000

Total 14,757,928,524 10,101,163,522

As of December 31, 2009 and 2008, the Bank has 3,109 and 2,547 employees, respectively.

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b. Subordinated Notes Syariah Mudharabah On January 31, 2007, the Bank performed a limited offering and sale of Subordinated Notes of Mudharabah Syariah 2007 (“The Bank's subnotes”) amounting to Rp200,000,000,000. The period of these subnotes is 10 (ten) years with call option on the 5th (fifth) year since the issuance date. The issuance of the Bank's Subnotes is conducted in 3 (three) phases, as follows: - Phase I dated January 31, 2007 with nominal amount of Rp105,000,000,000; - Phase II dated February 27, 2007 with nominal amount of Rp65,000,000,000; - Phase III dated April 5, 2007 with nominal amount of Rp30,000,000,000.

2. SUMMARY OF ACCOUNTING POLICIES

a. Basis of Preparation of Financial Statements

The financial statements have been prepared in conformity with the Statement of Financial Accounting Standards ("PSAK") No. 101 regarding “Presentation of Syariah Financial Statements”, PSAK No. 102, “Murabahah Accounting”, PSAK No. 104, “Istishna Accounting”, PSAK No. 105, “Mudharabah Accounting”, PSAK No.106, “Musyarakah Accounting”, and the Indonesia Syariah Banking Accounting Guidelines (PAPSI), and other generally accepted accounting principles issued by Indonesian Institute of Accountant (IAI), and prevailing banking industry accounting and practices prescribed by the banking authority in Indonesia and the Capital Market Supervisory Agency (Bapepam) under regulation No. VIII.G.7 of decision letter No.KEP-06/PM/2000 dated March 13, 2000 of the Chairman of BAPEPAM regarding "Guidelines for Financial Statements Presentation". The financial statements were prepared on the accrual basis using the historical cost concept except for certain exceptions as follows: 1) Certain securities are stated at fair values, 2) Foreclosed assets in relation with the financing repayment are stated at net realizable values,

and 3) Calculation of available income for profit sharing which are using cash basis.

Based on PSAK No. 101, the complete syariah bank financial statements should include the following: (i) Balance sheets; (ii) Statements of income; (iii) Statements of changes in shareholders' equity; (iv) Statements of cash flows; (v) Statements of changes in restricted investments; (vi) Statements of reconciliation of income and profit sharing (vii) Statements of sources and uses of zakat funds; (viii) Statements of sources and uses of qardhul hasan funds; (ix) Notes to the financial statements. Balance sheets, statements of income, cash flow and changes in shareholders' equity are financial statements reflecting the Bank's commercial activities. Statements of cash flows are presented by disclosing cash receipts and disbursements and classified as operating, investing and financing activities. For the presentation of cash flow statements, cash and cash equivalents consist of cash, current accounts with Bank Indonesia and other banks that are not pledged as collateral or restricted.

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2. SUMMARY OF ACCOUNTING POLICIES (continued)

a. Basis of Preparation of Financial Statements (continued) Statements of changes in restricted investments are financial statements representing movements of restricted investments managed by the Bank for other parties based on mudharabah contract or investment agent. Statements of reconciliation of income and profit sharing represent reconciliation between the Bank’s revenue on accrual basis and revenue distributed as profit sharing to depositors on a cash basis. Statements of sources and uses of zakat represent a statement showing the sources and the uses of zakat funds in a certain period and the undistributed funds on specific dates. Statements of sources and uses of qardhul hasan funds represent statements showing the sources and uses of qardhul hasan funds in a certain period and the undistributed funds on a specific dates. Restricted investments represent restricted investments from investors, which are managed by the Bank as investment agent based on the principles of mudharabah muqayyadah. Restricted investments are neither assets nor liabilities of the Bank, since the Bank is not entitled to use or withdraw the investments and the Bank has no obligation of returning the investments and does not share the risk involved in the investment. The Bank receives fees based on the funds distributed. Undistributed funds are recognized in current liabilities account. Zakat is some of the wealth that must be taken out by Muzaki (the zakat payer) to be given to Mustahiq (the zakat receiver). The sources of zakat, infaq, shadaqah funds are from Bank and other parties to be distributed to parties eligible in accordance with syariah principle. The Bank does not directly manage the operation of zakat, infaq and shadaqah funds, and qardhul hasan funds.

b. Transactions with Related Parties

In the normal course of business, the Bank entered into transactions with parties which are defined as related parties in accordance with the PSAK No. 7 regarding “Related party disclosures”. All significant transactions with related parties, whether or not entered into normal terms and conditions as those with third parties, are disclosed in the notes to the financial statements. Transactions between the Bank and the State Owned Enterprises/Regional government owned enterprises, and other institutions associated with the Government of the Republic of Indonesia and employees, except for the Board of Commissioners, Directors, and key employees are not considered as transactions with related parties under PSAK No. 7 "Related party disclosures."

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c. Allowance for Possible Losses on Earning Assets, Non-earning Assets and Estimated Losses on Commitment and Contingencies 1) Earning assets consist of placements with Bank Indonesia in the form of Bank Indonesia

Syariah Certificate (SBIS), Bank Indonesia Syariah Deposit Facility (FASBIS), current account with other banks, placement with other banks, investment in securities/ marketable securities, receivables, funds of qardh, musyarakah financing, mudharabah financing, ijarah assets and commitments and contingencies with credit risk, such as bank guarantees, irrevocable letters of credit and standby letters of credit.

In determining the allowance and the quality rating of assets based on Syariah principles, the

Bank applied Bank Indonesia Regulation (PBI) No. 10/24/PBI/2008 dated October 16, 2008 on the Second Amendment of PBI No. 8/21/PBI/2006 dated October 5, 2006 on the Quality Rating of Asset of Commercial Banks Conducting Business based on Syariah Principles, PBI No. 9/9/PBI/2007 on the amendment of Bank Indonesia Regulation No. 8/21/PBI/2006 on the Quality Rating of Asset of Commercial Banks Conducting Business based on Syariah Principles and PBI No. 9/9/PBI/2007 dated June 18, 2007 on the Quality Rating of Asset of Commercial Banks Conducting Business based on Syariah Principles.

The guidelines in determining the allowance for possible losses on earning assets are as follows:

a) General reserve shall be no less than 1% of total earning assets classified as current, excluding Bank Indonesia Syariah Certificates and securities issued by the Government based on syariah principles, and part of earning assets guaranteed by government bonds and cash collateral in the form of demand deposits, saving deposits, time deposits, guarantee deposits, and/or gold which are pledged accompanied with the power of attorney to liquidate.

b) Special reserve shall be at least: (1) 5% of earning assets classified as Special Mention after deducted by collateral value;

and (2) 15% of earning assets classified as Substandard after deducted by collateral value; and (3) 50% of earning assets classified as Doubtful after deducted by collateral value; and (4) 100% of earning assets classified as Loss after deducted by collateral value.

c) The requirement to establish allowance for possible losses shall not be applicable for earning assets under leasing transactions in the form of ijarah or leasing transaction with transfer of ownership of leasing object in the form of ijarah muntahiyah bittamlik. The Bank is required to establish depreciation/amortization for the assets of ijarah muntahiyah bittamlik (Note 2k).

For marketable securities and placements with other banks, the quality rating is classified into 3 (three) classification: current, substandard and loss. Quality rating of equity investment is determined into 4 (four) categories: current, substandard, doubtful and loss. Allowance for possible losses on commitments and contingent liabilities are recorded under "Estimated Losses on Commitments and Contingencies". If the management believes that certain earning assets are not recoverable then those assets should be written off by deducting the balance of earning assets from their respective allowances. Recoveries of earning assets that have been written off are recorded as additional allowance for losses in the current year. ww

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c. Allowance for Possible Losses on Earning Assets, Non-earning Assets and Estimated Losses on Commitment and Contingencies (continued)

2) Non earning assets represent the Bank’s assets other than earning assets which have potential

loss such as foreclosed assets, abandoned properties, inter-branches account and suspense account.

1. Foreclosed asset is an asset acquired through auction or over the counter based on voluntary submission by collateral owner or based on the power of attorney to sell over the counter from collateral owner in the event of customer’s failure in meeting his liabilities to the Bank.

The Bank is required to settle its foreclosed assets and prepare documentation of its effort to settle the assets. The Bank is required to re-evaluate the foreclosed assets to determine net realizable value: (1) at the time the asset is foreclosed, and (2) in the succeeding period after the acquisition of foreclosed asset. The determination of net realizable value is required to be carried out by an independent appraiser for foreclosed assets in the amount equivalent or more than Rp5,000,000,000 (five billion Rupiah). Internal appraiser of the Bank may be used for asset below Rp5,000,000,000 (five billion Rupiah). The Bank is required to use the lowest price if there are several values proposed by the independent or internal appraiser. The quality of foreclosed assets where the Bank has documented its effort to settle the assets is determined as follows: - Current, if acquired within 1 (one) year; - Substandard, if acquired more than 1 (one) year to 3 (three) years; - Doubtful, if acquired more than 3 (three) years to 5 (five) years; - Loss, if acquired more than 5 (five) years. The quality of foreclosed assets where the Bank is not been able to prepare documentation of its effort to settle the assets is determined to be one level lower than as stipulated in the regulation. Foreclosed assets related to settlement of financing (presented as other asset) are recognized based on net realizable value. Net realizable value is the fair value less estimated cost of disposal. The difference between the net realizable value and the balance of uncollectible receivables or financing is recognized as addition or deduction of allowance for possible losses on receivables or financing.

2. Inter-branches account is the claim arising from inter-branch transactions that are unsettled

after a certain period of time.

The Bank is required to settle its inter-branch account. The quality of inter branch account is determined as: - Current, the transaction has been recorded in the Bank’s book up to 180 days. - Loss, the transaction has been recorded in the Bank’s book over 180 days.

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d. Placements with Bank Indonesia Placements with Bank Indonesia consist of Wadiah current accounts with Bank Indonesia, Bank Indonesia Syariah Deposit Facility (FASBIS) and Certificates of Bank Indonesia Syariah as proof of short-term fund deposits based on jualah principles.

e. Current Account with Other Banks Current accounts with other banks are stated at their outstanding balance net of allowance for possible losses. Bonuses received from Commercial Banks based on syariah principles are recognized as other operating income. Interest on current accounts placed with conventional banks are not recognized as the Bank's income but are recorded as part of the qardhul hasan.

f. Placements with Other Banks Placements with other banks represent placements in the form of wadiah mudharabah time deposits and mudharabah saving deposits, other financing and other placements based on syariah principles in other syariah banks. Placements with other banks are stated at their outstanding balance net of allowance for possible losses.

g. Investment in Securities/Marketable Securities Syariah marketable securities is a proof of investment under the syariah principles commonly traded in syariah money market and/or syariah stock exchange, such as syariah bonds, syariah mutual funds certificates and other securities based on syariah principles.

Investment in securities/marketable securities is classified based on management intention at the date of purchase in accordance with PSAK No. 50 (Revised 1998) on "Accounting for Certain Investments in Securities" as follows: 1) Held to maturity securities are stated at cost, adjusted by unamortized premium or discount.

Premium and discount are amortized by using the straight-line method. 2) Available-for-sale securities are stated at fair values. Unrealized gains or losses from the

increase or decrease in fair value are recognized as a separate component of shareholder's equity. Such gains or losses are recognized in statement of income upon realization.

3) Securities for trading are stated at fair values. Unrealized gains or losses from the increase or decrease in fair values are presented in current year statement of income. Upon sale of trading securities portfolio, the difference between the selling price and the purchase price is recognized as a gain or loss in the period when the securities were sold.

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h. Receivables Receivables represent claims arising from murabahah, istishna and/or ijarah financing. Murabahah is the sale and purchase of goods in which the selling price is determined based on acquisition cost added with mutually agreed margin and the seller shall disclose the acquisition cost to the buyer. Murabahah receivables are stated at the balance of the receivable less deferred margin and allowance for possible losses. The Bank provides allowance for possible losses based on the review of the quality of individual murabahah receivable balance. Istishna is the sale and purchase of goods in the form of manufacturing the ordered goods with the agreed criteria, specification, and term of payment. Based on the istishna contract, the buyer orders the manufacturer to make or to supply al-mashnu (goods ordered) to the specifications required by the buyer at an agreed price. Istishna receivables are presented based on the outstanding billings less allowance for possible losses. The Bank provides allowance for possible losses on istishna receivables based on the review of the quality of individual istishna receivable balance. In an istishna transaction, the Bank acts as the fund provider. Ijarah is a lease contract of goods and/or services between lessor and lessee on object of lease to earn a return on the lease object. Ijarah muntahiyah bittamlik is a leasing agreement between a lessor and a lessee in order to earn income on the lease object, which includes an option to transfer the ownership title of the object after a specified period of time in accordance with the lease contract. The title of the lease object to the lessee in ijarah muntahiyah bittamlik can be transferred through: (i) a grant; (ii) sale prior to the end of the contract for an amount equivalent to the remaining lease

installments; (iii) sale prior to the end of the contract at a specified amount as agreed at the inception of the

contract, and (iv) installment sales at a specific price as agreed in the contract. Ijarah receivable is recognized at due date amounted to the balance of income not yet received and presented at its net realizable value, which is the outstanding balance of the receivable less allowance for possible losses. The Bank provides allowance for possible losses based on the review of the quality of individual ijarah receivable balance.

i. Financing

Mudharabah is a commercial cooperation contract between the Bank as the owner of funds (shahibul maal) and the customer as a fund manager (mudharib) to conduct certain project, at an agreed profit or revenue sharing method. Mudharabah financing is stated at the outstanding financing balance less allowance for possible losses. Allowance for possible losses is provided based on the review of the quality of individual mudharabah financing.

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i. Financing (continued) In the event that a portion of financing is impaired prior to the start up of operations owing to loss, damage or any other reason, without course to negligence or error on the part of the fund manager, the said loss shall reduce the mudharabah financing balance and shall be recognized as a loss by the Bank. In the event that a portion of financing is lost after the commencement of operations for reasons unrelated to negligence or error on the part of the fund manager, the loss shall be distributed between parties upon the determination of profit or revenue sharing between the Bank and the fund manager. Loss on financing for reasons related to negligence or error on the part of the fund manager shall be charged to the fund manager and shall not reduce the mudharabah financing balance. Musyarakah financing is a partnership contract between the fund-owners in contributing funds and conducting business through partnership. All parties share profits based on a predetermined ratio, while the loss will be distributed proportionally based on capital contribution. Permanent musyarakah is musyarakah in which the fund portion of each partner is stated explicitly in the contract and remains the same until the contract expires. Declining musyarakah (musyarakah mutanaqisha) is musyarakah in which the fund portion of the Bank will be transferred in several stage to the other partner, resulting in the declining of fund portion of the Bank and, at the end of contract, the other partner will become the sole owner of the business. Musyarakah financing is stated at the outstanding financing balance less allowance for possible losses. The Bank provides allowance for possible losses based on the review of the quality of individual musyarakah financing.

j. Funds of Qardh

Qardh represents borrowing of fund without promised benefits wherein the borrower should repay the loan on lumpsum or by installment after a specified period of time. Qardh includes hiwalah and rahn. Hiwalah is the transfer of customer's debts to the Bank. The Bank will obtain a fee (ujrah) from this transaction, which is recognized upon receipt. Rahn represents the mortgage of goods or assets owned by the customer for an equivalent amount of money. Assets or goods mortgaged are appraised based on market value, less a certain deduction percentage. The Bank will obtain a fee (ujrah), which is recognized upon receipt. Qardh is recognized in the amount lent at the transaction date. Any excess amount paid by the borrower in repaying a qardh is recognized as revenue upon realization. Qardh is stated at its outstanding balance less allowance for possible losses. The Bank provides allowance for possible losses based on the review quality of the individual funds of qardh.

k. Assets Acquired for Ijarah Assets acquired for ijarah represent assets that are objects of lease transactions (ijarah) and are recognized in the balance sheet at the acquisition cost. The assets in an ijarah transaction are depreciated using straight-line method based on the estimated useful life, while in an ijarah muntahiyah bittamlik transactions; the asset for lease is depreciated using straight-line method over the lease period. Assets acquired for ijarah are presented at the acquisition cost less accumulated depreciation.

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l. Istishna Assets in Progress Istishna assets in progress are istishna assets which are still in process of production. If the completion of payment is done simultaneously with the process of producing istishna asset, then: 1) Deferred expense that is paid prior to the contract is recognized as istishna asset in progress

when the contract is signed. 2) Istishna expense is recognized as istishna asset in progress when it is completed. 3) Parallel istishna expense is recognized as istishna asset in progress when the invoice is received

from sub-contractor for the amount of the bill.

m. Fixed Assets Effective on January 1, 2008, the Bank adopted PSAK No. 16 (Revised 2007), "Fixed Assets", which replaces PSAK No. 16 (1994), "Fixed Assets and Other Assets" and PSAK No. 17 (1994), "Accounting for Depreciation", in which the Bank has chosen the cost model. Implementation of this revised standard did not have a significant effect on the financial statements of Bank. Fixed assets are depreciated from the month of the usage of assets and computed using the straight-line method based on the estimated useful lives of the assets as follows: Years Buildings 20 Installations, office equipment and motor vehicles 5

Land is stated at cost and not depreciated.

The cost of repairs and maintenance is charged to operations as incurred; significant renewals and betterments are capitalized. When assets are retired or otherwise disposed of, their cost and the related accumulated depreciation are removed from the accounts and any resulting gain or loss is credited or charged to current year statement of income. The carrying value of fixed assets is derecognized upon disposal or when no future economic benefits expected from the use or disposal. Gains or losses arising from derecognition of the asset (calculated as the difference of the net proceeds from disposal and the carrying amount of the asset) is included in the income statements in the year the asset is derecognized. The recoverable value of an asset is estimated when events or changes in circumstances indicate that the carrying value may not be fully recoverable. Asset impairment, if any, is recognized as a loss in the current year statement of income.

n. Prepaid Expenses Prepaid expenses (presented under "Other Assets" account) are amortized over their expected useful periods using the straight-line method.

o. Deferred Income

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p. Liabilities due Immediately Liabilities due immediately represent obligations to third parties, based on a contract or an order by those having authority, which have to be settled immediately. Liabilities due immediately are stated at the amount of the Bank's liability.

q. Wadiah Deposits

Wadiah deposits represent other parties' funds in the form of wadiah demand deposits and wadiah saving deposits. Wadiah demand deposits can be used as payment instruments, and are available for withdrawal at any time through check and demand deposit slip (“bilyet giro”). Wadiah demand deposits and wadiah saving deposits may earn bonus based on the Bank's policy. Wadiah demand deposits and wadiah saving deposits are stated at the amount payable to depositors.

r. Deposits from Other Banks

Deposits from other banks represent liabilities to other banks in the form of wadiah demand deposits, wadiah saving deposits and Interbank Mudharabah Investment Certificate (SIMA). Deposits from other banks are stated at the amounts payable to other banks.

s. Subordinated Notes Issued

Subordinated notes issued are stated at their nominal value. Costs incurred at the issuance date were charged to expense in the period they were incurred.

t. Temporary Syirkah Funds

Temporary Syirkah Funds represent investment received by the Bank. The Bank has the right to manage and invest funds in accordance with either the Bank’s policy or restriction set by the depositors’ with the agreed profit sharing. Relationship between the Bank and the owner of temporary syirkah funds are based on partnership mudharabah muthlaqah, mudharabah muqayyadah or musyarakah. The example of temporary syirkah funds are investment funds received from mudharabah muthlaqah, mudharabah muqayyadah, mudharabah musytarakah and other similar accounts. 1) Mudharabah mutlaqah represents mudharabah in which the fund owner (shahibul maal) entrust

to fund manager (mudharib Bank) in managing its investment. 2) Mudharabah muqayyadah represents mudharabah in which the fund owner sets restrictions

against fund manager regarding, among others, the place, the means and/or the object of investment.

3) Mudharabah musytarakah represents mudharabah in which fund manager also submits its capital or fund in the investment.

Temporary syirkah fund cannot be classified as liability. This was due to the Bank does not have any liability to return the fund to the owners when loss occurred, except in the event of the Bank’s management negligence or misrepresentation. On the other hand, temporary syirkah fund also cannot be classified as equity, because of the existence of maturity period and the depositors do not has the same rights as the shareholder’s such as voting rights and the rights of realized gain from current assets and other non investment accounts.

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t. Temporary Syirkah Funds (continued) Temporary syirkah funds represent one of the balance sheet accounts which is in accordance with syariah principle provide right to the Bank to manage and invest fund, including to mixing of one funds with the other funds. The owner of temporary syirkah funds receive parts of revenue in accordance with the agreement and receive loss based on proportion to the total funds. The profit distribution of temporary syirkah funds might be based on profit sharing or revenue sharing concept.

u. Income from Fund Management by Bank as Mudharib

Income from fund management by Bank as mudharib consist of income from murabahah and istishna transactions, income from ijarah (leasing), income from profit sharing of mudharabah and musyarakah financing and other main operating income. Murabahah income by deferred payment or by installment is recognized during the period of the contract based on the level of risk and the effort to realize the income. The methods implemented by the Bank are as follows:

1) Effective method (annuity) based on the period of contracts:

a) For murabahah with deferred payment within one year. b) For murabahah with deferred payment of more than one year, where the risk of collection of

the receivables (bad debts) and/or administration expense to collect receivables are relatively small.

2) Term proportional method in accordance with the contract for murabahah with the deferred payment more than one year where the risk of collection of the receivables (bad debts) and/or the administration expenses to collect receivables are relatively high.

The Bank determined risk policy based on the internal regulation. The Bank ceases the amortization of deferred income when the financing were classified as non-performing. Income from istishna is recognized using the percentage of completion or full completion method.

Income from ijarah is recognized proportionally during the contract period.

Profit sharing for passive partner in musyarakah is recognized in the period when the right arise in accordance with the agreed sharing ratio. Profit sharing income from mudharabah is recognized in the period when the right arise in accordance with agreed sharing ratio and the recognition based on projection of income is not allowed.

v. Other Main Operating Income

Other main operating income consists of income derived from Bank Indonesia Syariah Certificates, placements with other syariah banks and profit sharing from syariah securities. Other main operating income is recognized on an accrual basis.

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w. Third Parties’ Share on Return of Temporary Syirkah Funds Third parties’ share on the return of temporary syirkah funds represent fund owners’ share of the revenues of the Bank derived from managing of such funds under mudharabah mutlaqah, mudharabah muqayyadah and mudharabah musytarakah principles. The revenue shared is determined on a cash basis. Distribution of profit sharing is calculated based on the Bank’s gross profit margin. Margin income and profit sharing on financing facilities and other earning assets are distributed to fund owners and the Bank based on proportion of fund used in the financing and other earning assets. Margin income and profit sharing income allocated to the fund owners are then distributed to fund owners as shahibul maal and the Bank as mudharib based on a predetermined ratio. Margin income and profit sharing from financing facilities and other earning assets using the Bank's funds, are entirely shared for the Bank, including income from the Bank's fee-based transactions.

x. Sources and Uses of Zakat and Qardhul Hasan Funds

The management of sources and uses of zakat and qardhul hasan funds is delegated to Lembaga Amil Zakat Bank Syariah Mandiri Ummat and the Bank does not require reports on the result of the management of the fund. Penalties/sanctions were charged to debtors who are able to pay, but deliberately delay payments, in the amount that are agreed and not determined on the contract. The funds from penalties/sanctions will be used for charity funds/qardhul hasan Funds.

y. Fee Based Income from Banking Services

Fee based income from banking services are generally recognized when cash is received, except for the unamortized discount/premium which is recognized on an accrual basis

z. Provision for Employee Benefits

Post employment benefits The Bank has adopted PSAK No. 24 (Revised 2004), "Employee Benefits" to record estimated defined benefit obligation for severance pay, gratuity and compensation fee in accordance with the Labor Law no. 13 in 2003 dated March 25, 2003 (Law No. 13/2003).

Under PSAK No. 24 (revised 2004), "Employee Benefits", the cost of providing the employee benefits is determined using the “Projected Unit Credit” actuarial valuation method. Actuarial gains and losses are recognized as income or expense when the net cumulative unrecognized actuarial gains and losses at the end of the previous reporting year exceeded 10% of the present value of the defined benefit obligation. These gains or losses are recognized on a straight-line method over the expected average remaining working lives of the employees. Moreover, past service costs arising from the introduction of a defined benefit plan or changes in the benefit payable of an existing plan are required to be amortized over the period until the benefits concerned become vested.

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z. Provision for Employee Benefits (continued)

Post employment benefits (continued) The Bank also has a defined contribution pension plan through Dana Pensiun Lembaga Keuangan (DPLK) program. The Bank charged the payment of monthly contribution fund to DPLK in the income statement at the time the employee has rendered the service. Long-term benefits Starting in 2009, the Bank changed its accounting method of the long-term employee benefits in the form of long service leave and long service awards which were previously treated as compensation for the current year (short-term benefits) into long-term benefits. The effect of change in accounting method is recognized prospectively. For long-term employee benefits, PSAK No. 24 (Revised 2004) requires accounting treatment similar with the accounting for defined benefit plans (as presented in the previous paragraph), except that the actuarial gains and losses and past service costs incurred should be recognized immediately in the current year statement of income.

aa. Transactions and Balances in Foreign Currency

Transactions in foreign currencies are recorded at the exchange rates prevailing at the time the transactions are made. As of December 31, 2009 and 2008, monetary assets and liabilities in foreign currencies are translated into Rupiah based on Reuters published spot rate at 16.00 pm (Western Indonesian time), as follows (in full amount): 2009 2008

1 United States Dollar (USD) 9,395.00 10,900.00 1 Australian Dollar (AUD) 8,453.15 7,554.26 1 Euro (EUR) 13,542.42 15,356.48 1 Singapore Dollar (SGD) 6,704.49 7,587.91 1 Saudi Arabia Riyal (SAD) 2,504.66 2,855.89 1 Japanese Yen (JPY) 102.19 120.65 Differences of the translations on foreign currency assets and liabilities in the Rupiah are recognized as income or expense in the current year.

ab. Segment Information

Segment information is prepared using the accounting policies adopted for preparing and presenting the financial statements. Segment reported is geographical segments. A geographical segment is a distinguishable component of the Bank that is engaged in providing services within a particular economic environment (area) and that component is subject to risks and returns that are different from those risks and returns of components which operate in other economic environment (area).

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ac. Income Tax

Current tax expense is determined based on the estimated taxable income for the year. Deferred tax assets and liabilities are recognized for temporary differences between assets and liabilities for commercial purposes against tax purposes at each reporting date. Future tax benefits, such as unused tax losses, are recognized to the extent possible these benefits can be realized. Deferred tax assets and liabilities are measured at expected tax rates applicable to the period when the asset is realized or the liability is settled, based on the prevailing or substantially prevailing tax rates (and tax laws) at the balance sheet date. Changes in tax liabilities are recognized when an assessment letter is received or, if appealed, on when the decision appeal is determined.

ad. Basic Earnings per Share

Basic earnings per share is computed by dividing net income with the weighted average number of shares issued and fully paid during the year. Net income used to calculate basic earnings per share for the years ended December 31, 2009 and 2008 amounted to Rp290,942,628,653 and Rp196,415,940,227, respectively. Total weighted average shares outstanding used as the divisor in calculating basic earnings per share as of December 31, 2009 and 2008 are 131,648,713 shares and 111,648,713 shares, respectively.

ae. Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect amounts reported therein. Due to inherent uncertainty in making estimates, actual results reported in future periods might differ from those estimates.

3. CURRENT ACCOUNTS AND PLACEMENTS WITH BANK INDONESIA 2009 2008

Wadiah current accounts Rupiah 900,698,013,736 800,835,704,839 United States Dollar 59,188,500,000 14,170,000,000

Total wadiah current accounts 959,886,513,736 815,005,704,839 Placements with Bank Indonesia Certificates of Bank Indonesia Syariah 1,915,000,000,000 1,305,000,000,000 Bank Indonesia Syariah Deposit facilities 466,000,000,000 -

Total placements with Bank Indonesia 2,381,000,000,000 1,305,000,000,000

Total current accounts and placements with Bank Indonesia 3,340,886,513,736 2,120,005,704,839

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3. CURRENT ACCOUNTS AND PLACEMENTS WITH BANK INDONESIA (continued) In accordance with Bank Indonesia Regulation (PBI) No. 6/21/PBI/2004 dated August 3, 2004 on

reserve requirement in Rupiah and foreign currency for commercial bank conducting business based on syariah principles, as amended by PBI No. 8/23/PBI/2006 dated October 5, 2006 and recently by PBI No. 10/23/PBI/2008 dated October 16, 2008, each bank is required to maintain minimum reserve requirement (GWM) in Rupiah and foreign currency which is set at 5% and 1% from the third party funds in Rupiah and foreign currencies.

Percentage of minimum reserve requirement (GWM) in Rupiah currency as of December 31, 2009 and 2008 were 5.05% and 5.61%, respectively. Meanwhile the percentage of GWM of foreign currency as of December 31, 2009 and 2008 were 6.91% and 1.95%, respectively. Bonus rates for Certificate of Bank Indonesia Syariah (SBIS) for the years ended December 31, 2009 and 2008 are ranging from 6.45% to 10.32% per annum and 5.95% to 11.42% per annum, respectively, which are recognized upon receipt. Duration of Bank Indonesia Syariah Certificate on December 31, 2009 and 2008 ranged between 7 to 28 days. Starting April 2009, the Bank has also placed its funds in Bank Indonesia Syariah Deposit Facilities (FASBIS) and obtained annual bonus rates ranging from 6.00% to 7.00 which are recognized at maturity date.

4. CURRENT ACCOUNTS WITH OTHER BANKS 2009 2008

a. Third Parties Syariah Banks Rupiah PT Bank Negara Indonesia (Persero) Tbk - Unit Usaha Syariah 29,143,652,647 46,615,886,927 Riyal Saudi Arabia Al Rajhi Banking & Investment 446,113,021 517,576,350 United States Dollar PT Bank Negara Indonesia (Persero) Tbk - Unit Usaha Syariah 24,455,053,658 82,864,987,051 Al Rajhi Banking & Investment 40,141,923 46,572,321

Total 54,084,961,249 130,045,022,649 Conventional Banks

Rupiah PT Bank Central Asia Tbk 6,978,522,468 2,252,164,354 Bank BPD Sulawesi Tengah 2,763,000,000 - Bank BPD Aceh 1,006,110,743 43,268,521 PT Bank Negara Indonesia (Persero) Tbk 436,053,341 1,192,976,290 Bank BPD Jawa Tengah 7,826,609 1,992,936 United States Dollar Wachovia Bank N.A 65,821,532,721 2,097,472,067 PT Bank Central Asia Tbk 27,355,776,349 85,756,252,708 Citibank N.A New York 10,083,825,053 1,465,531,051

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4. CURRENT ACCOUNTS WITH OTHER BANKS (continued) 2009 2008

a. Third parties (continued)

Conventional Banks (continued) Singapore Dollar United Overseas Bank 546,536,152 1,960,572,986 Euro Commerz Bank AG 6,114,482,486 - Dresdner Bank AG 115,908,532 13,002,703,616 Australian Dollar Australia and New Zealand Bank 1,965,282,290 1,314,382,770 Japanese Yen Sumitomo Mitsui Banking Corporation 912,175,122 6,550,250,407

Total 124,107,031,866 115,637,567,706

Total third parties 178,191,993,115 245,682,590,355

b. Related Party Conventional Bank PT Bank Mandiri (Persero) Tbk Rupiah 66,980,855,464 53,338,030,271 United States Dollar 26,021,641,065 5,018,032,128 Singapore Dollar 1,976,293,780 1,759,849,376

Total related party 94,978,790,309 60,115,911,775 Total current account with other banks 273,170,783,424 305,798,502,130 Allowance for possible losses (2,741,346,825) (3,057,985,021)

Net 270,429,436,599 302,740,517,109

The movements of the allowance for losses for current accounts with other banks are as follows:

2009

Rupiah Foreign Currency Total

Balance at beginning of year 1,034,443,193 2,023,541,828 3,057,985,021 Allowance/(reversal) during the year 48,356,010 (644,391,495) (596,035,485) Exchange rate differences - 279,397,289 279,397,289

Balance at end of year 1,082,799,203 1,658,547,622 2,741,346,825

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4. CURRENT ACCOUNTS WITH OTHER BANKS (continued) 2008


Balance at beginning of year 43,174 4,861,395 4,904,569 Allowance during the year 1,034,400,019 2,017,900,476 3,052,300,495 Exchange rate differences - 779,957 779,957


Based on management review and evaluation, all current accounts with other banks as of December 31,

2009 and December 31, 2008 were classified as current. Management believes that the allowance for losses is adequate to cover possible losses from uncollectible current accounts with other banks and in compliance with Bank Indonesia regulation.

All income received from current accounts with conventional banks are recorded as fund of qardh

(Note 14). 5. PLACEMENTS WITH OTHER BANKS 2009 2008

Rupiah Time Deposits PT Bank Tabungan Negara (Persero) Tbk - Syariah Business Unit 150,000,000,000 30,000,000,000 Interbank Mudharabah Investment Certificate (SIMA) PT Bank Negara Indonesia (Persero) Tbk - Syariah Business Unit 11,000,000,000 - PT Bank Internasional Indonesia Tbk - Syariah Business Unit 10,000,000,000 - United States Dollar Interbank Mudharabah Investment Certificate (SIMA) PT Bank DKI - Syariah Business Unit 46,975,000,000 -

Total placements with other banks 217,975,000,000 30,000,000,000 Allowance for possible losses (2,179,750,000) (300,000,000)

Net 215,795,250,000 29,700,000,000

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5. PLACEMENTS WITH OTHER BANKS (continued) Profit sharing of time deposits were ranging from 5.10% to 11.25% per annum for the year ended

December 31, 2009 and 5.03% to 11.25% per annum for the year ended 31 December 2008. Profit sharing of SIMA in Rupiah ranged from 6.30% to 7.82% per annum while for United States Dollar

is 0.80% per annum for the year ended December 31, 2009. Placements with other banks based on maturity before allowance for possible losses is as follows: 2009 2008

Less than 1 month 160,000,000,000 30,000,000,000 1 - 3 months 57,975,000,000 -

Balance at end of year 217,975,000,000 30,000,000,000

The movements of the allowance for losses for placements with other banks are as follows:

2009


Balance at beginning of year 300,000,000 - 300,000,000 Allowance during the year 1,410,000,000 469,750,000 1,879,750,000 Exchange rate differences - - -

Balance at end of year 1,710,000,000 469,750,000 2,179,750,000

2008


Balance at beginning of year 1,272,876,671 2,024,317,725 3,297,194,396 Reversal during the year (972,876,671) (2,349,096,476) (3,321,973,147) Exchange rate differences - 324,778,751 324,778,751

Balance at end of year 300,000,000 - 300,000,000

Based on management review and evaluation, all placements with other banks as of December 31, 2009 and 2008 were classified as current. Management believes that the allowance for possible losses on placements with other banks is sufficient to cover possible losses from uncollectible placements with other banks and in compliance with Bank Indonesia regulation.

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6. INVESTMENT IN SECURITIES/MARKETABLE SECURITIES a. By Type, Currency and Collectability

2009

Carrying Amount

Acquisition Unamortized Unrealized cost amount Gains Current Substandard Total

Rupiah Held-to-maturity Syariah corporate securities 1,022,630,389,694 (240,512,990 ) - 920,740,512,989 50,000,000,000 970,740,512,989 Syariah government securities 1,042,615,353,757 12,045,820,758 - 1,042,954,179,242 - 1,042,954,179,242 ____

Total held-to-maturity securities 2,065,245,743,451 11,805,307,768 - 1,963,694,692,231 50,000,000,000 2,013,694,692,231 Available-for-sale

Syariah mutual funds 8,000,000,000 - 1,853,691,959 9,853,691,959 - 9,853,691,959

Total investment in securities Rupiah 2,073,245,743,451 11,805,307,768 1,853,691,959 1,973,548,384,190 50,000,000,000 2,023,548,384,190 Foreign Currencies Held-to-maturity Export bills 464,392,971 - - 464,392,971 - 464,392,971

Total investment in securities - foreign currencies 464,392,971 - - 464,392,971 - 464,392,971

Total 2,073,710,136,422 11,805,307,768 1,853,691,959 1,974,012,777,161 50,000,000,000 2,024,012,777,161

Allowance for possible losses (17,010,179,780 )

Net 2,007,002,597,381

2008

Carrying Amount

Acquisition Unamortized Unrealized Cost amount Gains Current Substandard Total

Rupiah Held-to-maturity Syariah corporate securities 994,042,000,000 (7,921,189,956 ) - 986,120,810,044 - 986,120,810,044 Syariah government securities 277,000,000,000 - - 277,000,000,000 - 277,000,000,000

Total held-to-maturity securities 1,271,042,000,000 (7,921,189,956 ) - 1,263,120,810,044 - 1,263,120,810,044 Available-for-sale Syariah mutual funds 8,000,000,000 - 765,496,599 8,765,496,599 - 8,765,496,599

Total investment in securities Rupiah 1,279,042,000,000 (7,921,189,956 ) 765,496,599 1,271,886,306,643 - 1,271,886,306,643 Foreign Currencies Held-to-maturity Export bills 1,975,701,880 - - 1,975,701,880 - 1,975,701,880

Total investment in securities - foreign currencies 1,975,701,880 - - 1,975,701,880 - 1,975,701,880

Total 1,281,017,701,880 (7,921,189,956 ) 765,496,599 1,273,862,008,523 - 1,273,862,008,523

Allowance for possible losses (12,738,620,085 )

Net 1,261,123,388,438

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6. INVESTMENT IN SECURITIES/MARKETABLE SECURITIES (continued)

b. By Maturity

Following are classified based on maturity: 2009 2008

Held to maturity

Less than 1 year 92,785,020,220 272,716,525,008

1 - 5 years 1,119,377,716,612 512,257,986,916 5 - 10 years 801,996,348,370 480,122,000,000

2,014,159,085,202 1,265,096,511,924

Available-for-sale

Less than 1 year 9,853,691,959 8,765,496,599

Total investment in securities/ marketable securities 2,024,012,777,161 1,273,862,008,523

Allowance for possible losses (17,010,179,780) (12,738,620,085)

Net 2,007,002,597,381 1,261,123,388,438

c. By Issuer

2009 2008

Rating Rating Company Rating Total (Rp) Company Rating Total (Rp)

Available-for-sale Rupiah Mutual funds I-Hajj Syaria Fund managed by CIMB Niaga - - 6,109,372,527 - - 5,453,486,827 PNM Amanah Syariah Managed by PT Permodalan Nasional Madani - - 3,744,319,432 - - 3,312,009,772

Total available-for-sale 9,853,691,959 8,765,496,599

Held to maturity Rupiah PT Pembangunan Perumahan (Persero) - - - PT Pefindo idBBB- 50,000,000,000 PT Perkebunan Nusantara VII (Persero) - - - PT Pefindo idA+ 40,070,515,739 PT Perkebunan Nusantara III PT Pefindo id AA- 80,132,701,811 PT Pefindo id AA- 80,220,234,933 PT Matahari Putra Prima Tbk PT Pefindo idA+ 75,000,000,000 PT Pefindo idA+ 32,570,855,556

PT Indosat (Persero) Tbk PT Pefindo idAA+ 168,227,914,824 PT Pefindo idAA+ 168,959,348,278 PT Sona Topaz Tourism Industry Tbk - - - PT Pefindo A1,id 31,097,208,332 PT CSM Corporatama - - - PT Moody's Indonesia Baa2,id 42,165,879,167 PT Bank Muamalat Indonesia IBPA A-,(idn) 30,000,000,000 PT Pefindo A3,id 30,000,000,000

PT Berlina - PT Moody's - - Indonesia Baa3,id 33,544,836,557 PT Humpuss Intermoda Transportasi Tbk - - - PT Pefindo A1,id 41,291,527,777 PT Apexindo Pratama Duta PT Pefindo idA+ 87,275,497,341 PT Pefindo idA+ 78,887,538,194 PT Berlian Laju Tanker Tbk PT Pefindo idA 87,031,453,675 PT Pefindo idA+ 47,128,365,511 PT PLN PT Pefindo idAA- 85,000,000,000 PT Pefindo idAA- 65,000,000,000 PT Adhi Karya PT Pefindo idA- 32,015,868,118 PT Pefindo idA- 32,027,000,000

PT Ricky Putra Globalindo PT Moody's PT Moody's Indonesia Baa3,id 5,045,129,907 Indonesia Baa1,id 5,157,500,000 PT Metrodata Fitch BBB+(idn) 33,000,000,000 PT Pefindo A3,id 33,000,000,000 PT Aneka Gas Fitch BBB (idn) 53,011,947,314 PT Pefindo A3,id 50,000,000,000

PT Arpeni II PT Pefindo id BB 50,000,000,000 PT Pefindo idA 50,000,000,000 PT Mayora PT Pefindo idA+ 75,000,000,000 PT Pefindo idA+ 75,000,000,000 PT Bakrieland - Serie B 2009 PT Pefindo idBBB+ 20,000,000,000 - - - PT Salim Ivomas Pratama - 2009 PT Pefindo id AA- 60,000,000,000 - - -

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6. INVESTMENT IN SECURITIES/MARKETABLE SECURITIES (continued) c. By Issuer (continued)

2009 2008

Rating Rating Company Rating Total Rp) Company Rating Total (Rp)

Held to maturity (continued) Rupiah (continued) Mitra Adiperkasa serie A-2009 PT Pefindo id A+ 30,000,000,000 - -

SBSN Ijarah RI 2008 serie IFR0001 - - 250,000,000,000 - - 277,000,000,000 SBSN Ijarah RI 2009 serie IFR0003 - - 456,996,348,371 - - - SBSN Ijarah RI 2009 serie IFR0004 - - 335,957,830,871 - - - United States Dollar CV Rimba Sentosa - - 464,392,970 - - 1,975,701,880

Total held to maturity 2,014,159,085,202 1,265,096,511,924

Total investment in securities/ marketable securities 2,024,012,777,161 1,273,862,008,523 Total allowance for possible losses (17,010,179,780) (12,738,620,085)

Net 2,007,002,597,381 1,261,123,388,438

Export bills have a remaining term to maturity of less than 1 (one) month. Movements in allowance for possible losses on investments in securities/marketable securities are as

follows:

2009


Balance at beginning of year 12,718,863,066 19,757,019 12,738,620,085 Allowance during the year 4,087,078,984 181,752,793 4,268,831,777 Exchange rates differences - 2,727,918 2,727,918


2008


Balance at beginning of year 7,823,603,225 211,094,095 8,034,697,320 Allowance/(reversal) during the year 4,895,259,841 (225,204,721) 4,670,055,120 Exchange rates differences - 33,867,645 33,867,645


Management believes that the allowance for possible losses on investment in securities/marketable

securities is adequate to cover possible losses from uncollectible investment in securities/marketable securities and is in compliance with Bank Indonesia regulation.

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7. RECEIVABLES

Receivables consist of:

a. By Type, Currency and Collectibility 2009

Special Current Mention Substandard Doubtful Loss Total

Rupiah Murabahah 6,625,204,901,144 598,250,926,690 86,310,278,001 7,165,644,447 245,216,239,257 7,562,147,989,539

Istishna 128,634,334,874 - - - 47,300,000,000 175,934,334,874 Ijarah 4,516,565,803 15,896,000 - - - 4,532,461,803

6,758,355,801,821 598,266,822,690 86,310,278,001 7,165,644,447 292,516,239,257 7,742,614,786,216 United States Dollar Murabahah 451,399,290,882 92,670,223,810 7,734,136,022 - 575,631,650 552,379,282,364

451,399,290,882 92,670,223,810 7,734,136,022 - 575,631,650 552,379,282,364 Total receivables 7,209,755,092,703 690,937,046,500 94,044,414,023 7,165,644,447 293,091,870,907 8,294,994,068,580 Allowance for possible losses (70,335,604,379) (92,296,474,335) (13,988,732,387 ) (3,204,071,088) (292,188,120,907) (472,013,003,096)

Net 7,139,419,488,324 598,640,572,165 80,055,681,636 3,961,573,359 903,750,000 7,822,981,065,484

2008


Rupiah Murabahah 5,649,140,173,372 282,167,317,922 75,488,870,254 55,807,127,000 221,101,341,000 6,283,704,829,548 Istishna 94,316,153,132 132,415,902 - - 47,312,241,695 141,760,810,729 IIjarah 2,118,579,730 15,896,000 - - - 2,134,475,730

5,745,574,906,234 282,315,629,824 75,488,870,254 55,807,127,000 268,413,582,695 6,427,600,116,007 United States Dollar Murabahah 499,077,462,662 11,488,275,180 - - 667,843,000 511,233,580,842

499,077,462,662 11,488,275,180 - - 667,843,000 511,233,580,842 Total receivables 6,244,652,368,896 293,803,905,004 75,488,870,254 55,807,127,000 269,081,425,695 6,938,833,696,849 Allowance for possible losses (60,481,801,353) (12,484,248,975) (6,566,897,059 ) (10,095,931,194) (182,688,956,017) (272,317,834,598)

Net 6,184,170,567,543 281,319,656,029 68,921,973,195 45,711,195,806 86,392,469,678 6,666,515,862,251

b. By Economic Sector, Currency and Collectibility 2009


Rupiah Trading 781,514,630,799 88,599,939,798 10,294,573,493 2,094,073,741 25,919,288,093 908,422,505,924 Construction 902,674,345,692 87,424,539,198 185,925,699 519,981,720 2,170,418,212 992,975,210,521 Agriculture 574,625,976,975 15,269,164,810 8,331,251,906 154,727,394 38,055,382,683 636,436,503,768 Social services 473,804,593,536 619,985,238 6,021,814,500 66,190,016 10,956,842,478 491,469,425,768 Business services 953,841,194,839 196,444,518,793 6,249,199,414 85,730,932 32,826,285,819 1,189,446,929,797 Manufacturing 242,828,864,466 30,659,434,215 6,060,812,204 - 142,113,495,448 421,662,606,333 Transportation and communication 469,233,090,359 116,307,703,610 39,347,570,459 3,685,719 14,952,838,346 639,844,888,493 Mining 105,653,079,477 14,681,040,326 163,575,068 - - 120,497,694,871 Electricity, gas and water 118,864,777,669 400,572,248 - - 52,316,132 119,317,666,049 Others 2,135,315,248,009 47,859,924,454 9,655,555,258 4,241,254,925 25,469,372,046 2,222,541,354,692

6,758,355,801,821 598,266,822,690 86,310,278,001 7,165,644,447 292,516,239,257 7,742,614,786,216 United States Dollar Trading 98,236,202,308 - - - - 98,236,202,308 Construction 40,422,176,715 - 7,734,136,022 - - 48,156,312,737 Business services 67,733,030,590 - - - 575,631,650 68,308,662,240 Manufacturing 6,225,239,740 - - - - 6,225,239,740 Transportation and communication 80,570,362,348 84,367,100,000 - - - 164,937,462,348 Mining - 8,303,123,810 - - - 8,303,123,810 Electricity, gas and water 157,610,004,590 - - - - 157,610,004,590 Others 602,274,591 - - - - 602,274,591

451,399,290,882 92,670,223,810 7,734,136,022 - 575,631,650 552,379,282,364 Total receivables 7,209,755,092,703 690,937,046,500 94,044,414,023 7,165,644,447 293,091,870,907 8,294,994,068,580 Allowance for possible losses (70,335,604,379) (92,296,474,335) (13,988,732,387 ) (3,204,071,088 ) (292,188,120,907) (472,013,003,096)

Net 7,139,419,488,324 598,640,572,165 80,055,681,636 3,961,573,359 903,750,000 7,822,981,065,484 www.

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7. RECEIVABLES (continued) b. By Economic Sector, Currency and Collectibility (continued) 2008


Rupiah Trading 602,120,911,956 41,016,092,142 7,160,530,356 4,353,481,757 83,618,951,691 738,269,967,902 Construction 1,077,297,089,368 41,496,281,043 405,052,178 2,000,000,000 2,780,011,111 1,123,978,433,700 Agriculture 505,150,109,597 54,961,589,975 1,567,717,822 992,559,640 603,874,836 563,275,851,870 Social services 433,430,104,707 11,788,023,268 979,782,214 347,625,000 1,946,301,310 448,491,836,499 Business services 951,792,063,052 14,120,648,087 16,112,260,699 9,962,931,606 8,016,692,697 1,000,004,596,141 Manufacturing 292,054,218,941 6,855,593,783 564,402,362 33,854,008,139 146,653,546,861 479,981,770,086 Transportation and communication 327,508,235,237 60,071,081,091 39,502,648,485 11,283,906 13,753,046,716 440,846,295,435 Mining 181,691,991,877 7,610,031,249 2,263,801,161 339,658,013 209,725,390 192,115,207,690 Electricity, gas and water 65,543,936,249 600,810,864 - - - 66,144,747,113 Others 1,308,986,245,250 43,795,478,322 6,932,674,977 3,945,578,939 10,831,432,083 1,374,491,409,571

5,745,574,906,234 282,315,629,824 75,488,870,254 55,807,127,000 268,413,582,695 6,427,600,116,007 United States Dollar Mining 257,767,887 11,149,811,650 - - - 11,407,579,537 Business services 62,304,765,368 - - - 667,843,000 62,972,608,368 Construction 56,732,388,125 - - - - 56,732,388,125 Transportation and communication 179,894,081,671 - - - - 179,894,081,671 Trading 12,183,722,103 - - - - 12,183,722,103 Electricity, gas and water 179,765,433,658 - - - - 179,765,433,658 Manufacturing 7,939,303,850 338,463,530 - - - 8,277,767,380

499,077,462,662 11,488,275,180 - - 667,843,000 511,233,580,842 Total receivable 6,244,652,368,896 293,803,905,004 75,488,870,254 55,807,127,000 269,081,425,695 6,938,833,696,849 Allowance for possible losses (60,481,801,353) (12,484,248,975) (6,566,897,059 ) (10,095,931,194 ) (182,688,956,017) (272,317,834,598)

Net 6,184,170,567,543 281,319,656,029 68,921,973,195 45,711,195,806 86,392,469,678 6,666,515,862,251

c. By Period (based on agreement)

2009 2008

Rupiah Less than 1 year 423,362,141,488 548,896,698,864 1 - 2 years 397,504,232,799 463,268,380,249 > 2 - 5 years 3,975,337,193,348 3,148,129,326,294 More than 5 years 2,946,411,218,581 2,267,305,710,600

7,742,614,786,216 6,427,600,116,007 United Stated Dollar Less than 1 year 39,280,748,137 146,290,526,934 1 - 2 years 175,202,456,635 6,540,000,000 > 2 - 5 years 236,049,266,018 265,223,011,106 More than 5 years 101,846,811,574 93,180,042,802

552,379,282,364 511,233,580,842


Net 7,822,981,065,484 6,666,515,862,251

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7. RECEIVABLES (continued)

d. Based on Remaining Period Until Maturity 2009 2008

Rupiah Less than 1 year 1,008,320,086,423 1,077,535,558,144 1 - 2 years 952,911,130,603 823,132,105,894 > 2 - 5 years 4,879,888,443,106 3,911,267,068,384 More than 5 years 901,495,126,084 615,665,383,585

7,742,614,786,216 6,427,600,116,007

United Stated Dollar Less than 1 year 206,353,212,585 181,266,611,306 1 - 2 years 87,087,614,190 8,905,960,322 > 2 - 5 years 258,938,455,589 251,956,591,458 More than 5 years - 69,104,417,756

552,379,282,364 511,233,580,842


Net 7,822,981,065,484 6,666,515,862,251

e. Other Important Information (i) Murabahah receivables from related parties which were given to the Bank’s key employees for

the year December 31, 2009 and 2008 amounted to Rp4,288,223,429 and Rp2,898,441,472, respectively. The receivables are used for housing, vehicles, and other needs with the period ranging from 2 years to 15 years and paid through monthly salary deduction.

(ii) Murabahah receivables are generally collateralized by registered mortgages, powers of attorney to mortgage or sell, time deposits, and other guarantees accepted by the Bank. Total mudharabah time deposits pledged as collateral are disclosed in Note 22.

(iii) Effective yield of margin receivable as of December 31, 2009 and 2008 for Rupiah ranging from 6.90% to 14.77% and 5.01% to 22.27% per annum, respectively and for foreign currency ranging from 4.88% to 8.28% and 3.31% to 11.19% per annum, respectively.

(iv) Restructured receivables for the year ended December 31, 2009 and 2008 were Rp967,579,476,120 and Rp896,021,832,448, respectively. Receivables were being restructured by providing period extension, rescheduling and additional receivable plafond for debtors.

(v) Ratio of non-performing receivable gross and net as of December 31, 2009 were 4.75% and 1.08%, respectively (2008: 5.77% and 3.02%, respectively).

(vi) Margin on murabahah which have matured and have not recognized as Bank’s income as of December 31, 2009 and 2008 amounted to Rp10,123,852,076 and Rp9,113,125,470, respectively.

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7. RECEIVABLES (continued)

e. Other Important Information (continued)

(vii) Movements in allowance for possible losses on receivables are as follows:

2009

Rupiah Foreign currency Total

Balance at beginning of year 266,714,923,455 5,602,911,143 272,317,834,598 Allowance during the year 194,241,322,070 4,231,888,315 198,473,210,385 Recovery of receivables previously written-off 35,367,325,529 - 35,367,325,529 Written-off during the year (34,918,980,377) - (34,918,980,377) Exchange rate differences - 773,612,961 773,612,961


2008


Balance at beginning of year 172,642,175,361 7,804,883,525 180,447,058,886 Allowance/(reversal) during the year 130,895,733,974 (3,454,177,159) 127,441,556,815 Recovery of loans previously written-off 34,328,628,519 - 34,328,628,519 Written-off during the year (71,151,614,399) - (71,151,614,399) Exchange rate differences - 1,252,204,777 1,252,204,777


(viii) Accrued margin murabahah income for the years ended December 31, 2009 and 2008

amounted to Rp44,672,768,106 and Rp27,632,169,204 respectively.

Management believes that the allowance for possible losses on receivables is adequate to cover possible losses from uncollectible receivables and is in compliance with Bank Indonesia regulation.

8. FUNDS OF QARDH a. Based on Type, Currency, and Collectibility 2009

Current Special Mention Substandard Doubtful Loss Total

Rupiah Qardh 1,016,733,724,095 165,000,000 56,000,000 52,500,000 4,732,000,000 1,021,739,224,095 Rahn 41,943,193,956 100,643,873 29,782,535 - - 42,073,620,364

1,058,676,918,051 265,643,873 85,782,535 52,500,000 4,732,000,000 1,063,812,844,459 United States Dollar Qardh 2,998,884,000 - - - - 2,998,884,000

2,998,884,000 - - - - 2,998,884,000 Total funds of qardh 1,061,675,802,051 265,643,873 85,782,535 52,500,000 4,732,000,000 1,066,811,728,459 Allowance for possible losses (10,614,846,049) (13,282,194) (12,867,380) (26,250,000 ) (4,732,000,000 ) (15,399,245,623 )

Net 1,051,060,956,002 252,361,679 72,915,155 26,250,000 - 1,051,412,482,836 www.

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8. FUNDS OF QARDH (continued) a. Based on Type, Currency, and Collectibility (continued)

2008

Current Special mention Substandard Doubtful Loss Total

Rupiah Qardh 613,981,514,357 10,000,000 114,000,000 10,430,000 707,350,000 614,823,294,357

613,981,514,357 10,000,000 114,000,000 10,430,000 707,350,000 614,823,294,357 United States Dollar Qardh 4,022,100,000 - - - - 4,022,100,000

4,022,100,000 - - - - 4,022,100,000 Total funds of qardh 618,003,614,357 10,000,000 114,000,000 10,430,000 707,350,000 618,845,394,357 Allowance for possible losses (6,179,901,808) (500,000) (17,100,000) - (623,905,732 ) (6,821,407,540)

Net 611,823,712,549 9,500,000 96,900,000 10,430,000 83,444,268 612,023,986,817

b. Based on Economic Sector, Currency, and Collectibility 2009


Rupiah Business services 1,509,000,000 - - - - 1,509,000,000 Transportation and communication 2,525,000,000 - - - - 2,525,000,000 Others 1,054,642,918,051 265,643,873 85,782,535 52,500,000 4,732,000,000 1,059,778,844,459

1,058,676,918,051 265,643,873 85,782,535 52,500,000 4,732,000,000 1,063,812,844,459 United States Dollar Others 2,998,884,000 - - - - 2,998,884,000

2,998,884,000 - - - - 2,998,884,000 Total funds of qardh 1,061,675,802,051 265,643,873 85,782,535 52,500,000 4,732,000,000 1,066,811,728,459 Allowance for possible losses (10,614,846,049 ) (13,282,194) (12,867,380 ) (26,250,000 ) (4,732,000,000 ) (15,399,245,623)

Net 1,051,060,956,002 252,361,679 72,915,155 26,250,000 - 1,051,412,482,836

2008


Rupiah Business Services 45,000,000 - - - 654,350,000 699,350,000 Manufacturing 32,500,000 - - - - 32,500,000 Transportation and communication 540,000,000 - - - - 540,000,000 Others 613,364,014,357 10,000,000 114,000,000 10,430,000 53,000,000 613,551,444,357

613,981,514,357 10,000,000 114,000,000 10,430,000 707,350,000 614,823,294,357 United States Dollar Transportation and communication 3,335,400,000 - - - - 3,335,400,000 Others 686,700,000 - - - - 686,700,000

4,022,100,000 - - - - 4,022,100,000 Total funds of qardh 618,003,614,357 10,000,000 114,000,000 10,430,000 707,350,000 618,845,394,357 Allowance for possible losses (6,179,901,808 ) (500,000) (17,100,000 ) - (623,905,732 ) (6,821,407,540)

Net 611,823,712,549 9,500,000 96,900,000 10,430,000 83,444,268 612,023,986,817

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8. FUNDS OF QARDH (continued)

c. Financing Period (based on agreements) 2009 2008

Rupiah Less than 1 year 617,935,040,443 515,719,261,157

1 - 2 years 361,253,664,138 68,270,464,138 > 2 - 5 years 83,366,139,878 30,808,569,062 More than 5 years 1,258,000,000 25,000,000

1,063,812,844,459 614,823,294,357

United Stated Dollar Less than 1 year 2,450,216,000 4,022,100,000 > 2 - 5 years 548,668,000 -

2,998,884,000 4,022,100,000

Total funds of qardh 1,066,811,728,459 618,845,394,357 Allowance for possible losses (15,399,245,623) (6,821,407,540)

Net 1,051,412,482,836 612,023,986,817

d. Remaining Period to Maturity

2009 2008

Rupiah Less than 1 year 948,306,604,581 517,865,794,357 1 - 2 years 114,814,000,000 96,917,500,000 > 2 - 5 years 649,239,878 15,000,000 More than 5 years 43,000,000 25,000,000

1,063,812,844,459 614,823,294,357 United Stated Dollar Less than 1 year 2,998,884,000 4,022,100,000

2,998,884,000 4,022,100,000

Total funds of qardh 1,066,811,728,459 618,845,394,357 Allowance for possible losses (15,399,245,623) (6,821,407,540)

Net 1,051,412,482,836 612,023,986,817

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8. FUNDS OF QARDH (continued) e. Other Significant Information

(i) The ratios of non-performing fund of qardh gross and net as of December 31, 2009 amounted to 0.46% and 0.009%, respectively (2008: 0.16% and 0.03%, respectively).

(ii) Summary of changes in allowance for possible losses of qardh funds are as follows:

2009


Balance at beginning year 6,781,186,540 40,221,000 6,821,407,540 Allowance/(reversal) during the year 9,242,420,243 (15,785,610) 9,226,634,633 Written-off during the year (654,350,000) - (654,350,000) Exchange rate differences - 5,553,450 5,553,450


2008


Balance at beginning year 3,667,432,676 137,257,509 3,804,690,185 Allowance/(reversal) during the year 3,139,686,364 (119,057,915) 3,020,628,449 Written-off during the year (25,932,500) - (25,932,500) Exchange rate differences - 22,021,406 22,021,406


Management believes that the allowance for possible losses is adequate to cover possible losses from uncollectible funds of qardh and is in compliance with Bank Indonesia regulation.

9. MUDHARABAH FINANCING a. Based on Economic Sector and Collectibility 2009


Rupiah Trading 16,738,628,091 1,165,459,276 76,239,870 - - 17,980,327,237 Construction 24,825,623,166 - - - - 24,825,623,166 Agriculture 4,822,726,601 26,537,500 - - 860,044,988 5,709,309,089 Social services 126,770,621,617 232,053,033 - - 277,613,931 127,280,288,581 Business services 3,049,357,348,438 40,883,455,376 11,394,770,149 237,973,895 26,014,438,094 3,127,887,985,952 Manufacturing 14,923,772,609 - 109,206,070 - - 15,032,978,679 Transportation and communication 16,215,372,926 - - - - 16,215,372,926 Electricity, gas and water 3,910,670,448 - - - - 3,910,670,448

Total mudharabah financing 3,257,564,763,896 42,307,505,185 11,580,216,089 237,973,895 27,152,097,013 3,338,842,556,078 Allowance for possible losses (32,462,076,291) (2,115,375,259) (1,737,032,413) (118,986,947 ) (26,960,316,324 ) (63,393,787,234 )

Net 3,225,102,687,605 40,192,129,926 9,843,183,676 118,986,948 191,780,689 3,275,448,768,844

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9. MUDHARABAH FINANCING (continued) a. Based on Economic Sector and Collectibility (continued)

2008

Current Special Mention Substandard Doubtful Loss Total

Rupiah Trading 17,167,841,409 - - - 25,800,000 17,193,641,409 Construction 60,314,020,115 - - - - 60,314,020,115 Agriculture 7,960,353,595 - - 239,050,000 - 8,199,403,595 Social services 104,575,447,781 - 107,842,370 293,465,731 - 104,976,755,882 Business Services 2,659,938,905,513 43,507,960,451 16,724,956,508 4,787,409,220 1,426,250,795 2,726,385,482,487 Mining 4,093,283,755 - - - - 4,093,283,755 Manufacturing 12,992,960,488 - - - - 12,992,960,488 Transportation and Communication 23,957,208,707 - - - - 23,957,208,707 Electricity, gas and water 5,262,115,174 - - - - 5,262,115,174 Others 272,000,000 - - - - 272,000,000

Total mudharabah financing 2,896,534,136,537 43,507,960,451 16,832,798,878 5,319,924,951 1,452,050,795 2,963,646,871,612 Allowance for possible losses (28,849,008,451) (2,172,860,523) (2,524,919,832) (2,659,962,476 ) (1,369,050,022 ) (37,575,801,304)

Net 2,867,685,128,086 41,335,099,928 14,307,879,046 2,659,962,475 83,000,773 2,926,071,070,308

b. Financing Period (based on agreements)

2009 2008

Rupiah Less than 1 year 38,605,159,276 74,390,206,730 1 - 2 years 80,351,691,626 61,463,575,691 > 2 - 5 years 1,952,017,149,283 1,837,859,967,552 More than 5 years 1,267,868,555,893 989,933,121,639

Total 3,338,842,556,078 2,963,646,871,612 Allowance for possible losses (63,393,787,234) (37,575,801,304)

Net 3,275,448,768,844 2,926,071,070,308

c. Remaining Period to Maturity

2009 2008

Rupiah Less than 1 year 241,176,675,516 227,203,438,075 1 - 2 years 575,952,432,152 548,224,410,367 > 2 - 5 years 2,469,643,832,355 2,083,208,483,032 More than 5 years 52,069,616,055 105,010,540,138


Net 3,275,448,768,844 2,926,071,070,308

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9. MUDHARABAH FINANCING (continued)

d. Other Significant Information

(i) Percentage of profit sharing for mudharabah per annum was ranging from 13.53% to 15.74%, for 2009 and 14.72% to 16.60% for 2008.

(ii) The ratio of non-performing mudharabah financing - gross and net as of December 31, 2009 was 1.17% and 0.31%, respectively (2008: 0.80% and 0.58%, respectively)

(iii) Summary of changes in allowance for possible losses of mudharabah financing are as follows:

2009


Balance at beginning year 37,575,801,304 - 37,575,801,304 Allowance during the year 31,086,591,902 - 31,086,591,902 Written-off during the year (5,268,605,972) - (5,268,605,972) Exchange rate differences - - -

Balance at end of year 63,393,787,234 - 63,393,787,234

2008


Balance at beginning year 25,024,012,007 - 25,024,012,007 Allowance during the year 13,288,047,318 - 13,288,047,318 Written-off during the year (736,258,021) - (736,258,021) Exchange rate differences - - -


Management believes that the allowance for possible losses is adequate to cover possible losses from uncollectible mudharabah financing and is in compliance with Bank Indonesia regulation.

10. MUSYARAKAH FINANCING a. Based on Economic Sector, Currency, and Collectibility 2009


Rupiah Trading 618,229,037,598 66,556,251,829 5,820,351,087 994,154,036 54,505,804,209 746,105,598,759 Construction 777,144,685,175 99,246,828,871 18,739,857,809 - 80,628,571,054 975,759,942,909 Agriculture 107,521,854,874 273,483,423 1,593,400,000 370,124,525 1,625,799,603 111,384,662,425 Social services 53,801,747,208 249,994,723 3,496,964,912 474,000,000 12,678,262,928 70,700,969,771 Business services 442,132,230,504 249,572,177 25,862,358,310 749,903,660 25,140,996,212 494,135,060,863 Manufacturing 489,840,892,141 67,594,598,478 974,886,491 1,047,102,391 28,014,016,397 587,471,495,898 Transportation and communication 70,866,982,080 1,404,545,983 67,528,019,835 - 675,000,000 140,474,547,898 Mining 47,073,013,568 20,000,000,000 101,540,000 - - 67,174,553,568 Electricity gas, and water 13,140,587,813 - 1,000,000,000 - 2,740,000,000 16,880,587,813

2,619,751,030,961 255,575,275,484 125,117,378,444 3,635,284,612 206,008,450,403 3,210,087,419,904 United States Dollar Trading 12,213,500,000 - - - - 12,213,500,000 Construction 1,352,410,250 - - - - 1,352,410,250 Business services 1,644,125,000 - - - - 1,644,125,000 Manufacturing 2,989,214,196 - - - - 2,989,214,196 Transportation and communication 140,925,000 28,185,000,000 - - - 28,325,925,000

18,340,174,446 28,185,000,000 - - - 46,525,174,446 Total musyarakah financing 2,638,091,205,407 283,760,275,484 125,117,378,444 3,635,284,612 206,008,450,403 3,256,612,594,350 Allowance for possible losses (25,818,473,771) (13,859,532,399 ) (18,744,369,517) (1,817,642,306 ) (195,526,575,502 ) (255,766,593,495 )

Net 2,612,272,731,636 269,900,743,085 106,373,008,927 1,817,642,306 10,481,874,901 3,000,846,000,855

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10. MUSYARAKAH FINANCING (continued) a. Based on Economic Sector, Currency, and Collectibility (continued)

2008


Rupiah Trading 487,972,651,489 3,560,956,670 6,576,110,750 16,108,000,000 62,919,243,764 577,136,962,673 Construction 738,942,313,751 96,719,980,076 7,895,950,000 5,405,200,000 35,563,255,705 884,526,699,532 Agriculture 49,300,478,136 2,169,525,000 2,295,276,972 - 65,000,000 53,830,280,108 Social services 32,937,548,531 450,000,000 3,523,858,881 - - 36,911,407,412 Business services 328,585,354,923 6,222,334,750 10,744,100,000 675,000,000 15,368,251,905 361,595,041,578 Manufacturing 343,162,577,520 4,318,476,652 1,627,500,000 6,526,258,791 90,984,826,902 446,619,639,865 Transportation and communication 71,476,511,989 3,662,583,934 970,000,000 55,896,856,530 350,000,000 132,355,952,453 Mining 52,876,912,274 - 200,000,000 - - 53,076,912,274 Electricity, gas, and water 2,088,996,848 - - - - 2,088,996,848 Others 10,270,005,596 - - - - 10,270,005,596

2,117,613,351,057 117,103,857,082 33,832,796,603 84,611,315,321 205,250,578,276 2,558,411,898,339 United States Dollar Business services - 4,360,000,000 - - - 4,360,000,000 Transportation and communication 32,700,000,000 - - - - 32,700,000,000 Trading 3,106,500,000 - - - - 3,106,500,000 Construction 8,175,000,000 - - - - 8,175,000,000 Manufacturing 6,976,000,000 - - - - 6,976,000,000

50,957,500,000 4,360,000,000 - - - 55,317,500,000

Total musyarakah financing 2,168,570,851,057 121,463,857,082 33,832,796,603 84,611,315,321 205,250,578,276 2,613,729,398,339 Allowance for possible losses (21,344,507,858) (5,304,453,669 ) (3,288,648,026) (8,743,536,321 ) (217,858,380,370 ) (256,539,526,244 )

Net 2,147,226,343,199 116,159,403,413 30,544,148,577 75,867,779,000 (12,607,802,094 ) 2,357,189,872,095

b. Financing Period (based on agreements)

2009 2008

Rupiah Less than 1 year 1,659,029,793,715 1,299,006,538,813 1 - 2 years 674,227,843,783 623,356,005,580 > 2 - 5 years 677,704,607,584 420,830,599,058 More than 5 years 199,125,174,822 215,218,754,888

3,210,087,419,904 2,558,411,898,339

United Stated Dollar less than 1 year 16,696,049,446 10,082,500,000 1 - 2 years - 32,700,000,000 > 2 - 5 years 28,185,000,000 8,175,000,000 More than 5 years 1,644,125,000 4,360,000,000

46,525,174,446 55,317,500,000


Net 3,000,846,000,855 2,357,189,872,095

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10. MUSYARAKAH FINANCING (continued) c. Remaining Period to Maturity 2009 2008

Rupiah Less than 1 year 2,740,550,525,535 2,253,811,645,838 1 - 2 years 147,962,690,341 59,096,174,175 > 2 - 5 years 286,803,816,252 189,407,221,796 More than 5 years 34,770,387,776 56,096,856,530

3,210,087,419,904 2,558,411,898,339

United Stated Dollar Less than 1 year 46,525,174,446 50,957,500,000 1 - 2 years - 4,360,000,000

46,525,174,446 55,317,500,000


Net 3,000,846,000,855 2,357,189,872,095

d. Other Significant Information

(i) Percentage of profit sharing for musyarakah financing per annum in Rupiah was ranging from

9.28% to 14.62% for 2009 and 10.18% to 12.24% for 2008, whereas for the foreign currency was ranging from 1.87% to 13.55% for 2009 and 2.38% to 13.75% for 2008.

(ii) The ratio of non-performing musyarakah financing-gross and net as of December 31, 2009 was

10.28% and 3.96%, respectively (2008: 12.38% and 3.98%, respectively).

(iii) Summary of changes in allowance for possible losses of musyarakah financing is as follows:

2009


Balance at beginning year 255,978,866,473 560,659,771 256,539,526,244 Allowance during the year 13,069,114,821 954,579,775 14,023,694,596 Written-off during the year (14,874,039,543) - (14,874,039,543) Exchange rate differences - 77,412,198 77,412,198


2008


Balance at beginning year 124,302,772,343 519,733,784 124,822,506,127 Allowance/(reversal) during the year 161,188,299,311 (42,459,386) 161,145,839,925 Written-off during the year (29,512,205,181) - (29,512,205,181) Exchange rate differences - 83,385,373 83,385,373


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10. MUSYARAKAH FINANCING (continued)

Management believes that the allowance for possible losses is adequate to cover possible losses from uncollectible musyarakah financing and is in compliance with Bank Indonesia regulation.

11. ASSETS ACQUIRED FOR IJARAH

This account represents objects of ijarah muntahiyah bittamlik transactions with an option to transfer ownership of assets through grants with details as follows:

2009 2008

Machinery and Installations 87,871,517,142 97,253,542,142 Container Vessel 17,671,500,000 63,954,000,000 Aeroplanes 28,185,000,000 32,700,000,000 Vehicles 14,752,550,000 25,725,879,620 Others 70,875,097,198 49,791,299,767

Total 219,355,664,340 269,424,721,529 Accumulated depreciation (113,244,117,512) (123,965,948,458)

Net 106,111,546,828 145,458,773,071

Based on Bank Indonesia regulation No. 9/9/PBI/2007 article 39 paragraph 3 and 4, the recognition of

allowance for losses on assets does not apply to productive assets in the form leasing contract of Ijarah Muntahiyah Bittamlik (IMBT) contract.

Depreciation charged to income statements amounted to Rp72,820,976,563 and Rp70,649,921,158,

respectively for the years ended December 31, 2009 and 2008 (Note 27). 12. FIXED ASSETS

2009

January 1 Additional Disposal December 31

Acquisition Cost Direct ownership Land rights 99,915,444,619 - - 99,915,444,619 Building 35,664,972,774 41,075,000 - 35,706,047,774 Installation 64,055,632,909 7,235,637,584 - 71,291,270,493 Motor vehicles 45,210,877,117 8,896,821,927 5,586,378,018 48,521,321,026 Office equipment 138,828,964,700 47,440,721,405 121,086,660 186,148,599,445

383,675,892,119 63,614,255,916 5,707,464,678 441,582,683,357

Accumulated Depreciation Direct ownership Building 6,364,257,619 1,894,206,029 - 8,258,463,648 Installation 53,875,234,534 5,187,861,482 - 59,063,096,016 Motor vehicles 35,880,490,148 3,955,189,368 5,586,377,953 34,249,301,563 Office equipment 95,539,687,807 20,360,689,965 102,848,658 115,797,529,114

191,659,670,108 31,397,946,844 5,689,226,611 217,368,390,341

Net book value 192,016,222,011 224,214,293,016

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12. FIXED ASSETS (continued) 2008

January 1 Additional Disposal December 31

Acquisition Cost Direct ownership Land rights 21,992,444,619 77,923,000,000 - 99,915,444,619 Building 13,695,932,774 21,969,040,000 - 35,664,972,774 Installation 60,468,516,589 3,587,116,320 - 64,055,632,909 Motor vehicles 44,180,753,293 1,484,020,824 453,897,000 45,210,877,117 Office equipment 122,595,442,158 16,332,586,812 99,064,270 138,828,964,700

262,933,089,433 121,295,763,956 552,961,270 383,675,892,119

Accumulated Depreciation Direct Ownership Building 5,692,620,686 671,636,933 - 6,364,257,619 Installation 47,322,555,788 6,552,678,747 - 53,875,234,535 Motor vehicles 30,542,861,431 5,723,725,713 386,096,997 35,880,490,147 Office equipment 76,582,138,316 19,051,921,405 94,371,914 95,539,687,807

160,140,176,221 31,999,962,798 480,468,911 191,659,670,108

Net book value 102,792,913,212 192,016,222,011

All of the landrights owned by the Bank are the rights to use (HGB) with remaining periods ranging from

3 months to 18 years and can be extended upon their expiration. The details of fixed assets sales are as follows: 2009 2008

Proceeds from sale of fixed assets 3,312,753,840 279,308,660 Book value (18,238,067) (72,492,359)

Gain on sales of fixed assets 3,294,515,773 206,816,301

Certain fixed assets were insured against the fire and other risks under insurance policies with

PT Asuransi Takaful Umum, PT Asuransi Jasindo Takaful, PT Asuransi Jasa Indonesia, PT Asuransi Staco Jasapratama and PT Tugu Pratama Indonesia with total sum insured amounting to Rp 376,210,781,373 and Rp 322,256,567,504 for the years ended December 31, 2009 and 2008, respectively.

Based on the Bank’s management review, there is no indication of impairment in value of assets owned

by the Bank.

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13. OTHER ASSETS 2009


Prepaid expenses 128,772,892,098 185,082 128,773,077,180 Domestic usance letter of credit (SKBDN) receivable 31,043,216,523 - 31,043,216,523 Usance import letter of credit receivables - 18,549,706,442 18,549,706,442 Stationary supplies 7,067,647,596 - 7,067,647,596 Other receivables (Note 46f) 6,000,000,000 - 6,000,000,000 ATM Bersama receivables 5,782,548,119 - 5,782,548,119 Cost associated with land rights 5,002,644,415 - 5,002,644,415 Security deposits 4,250,985,419 28,185,000 4,279,170,419 ATM Prima receivables 3,568,778,891 - 3,568,778,891 Western Union Mandiri receivables 1,001,427,269 - 1,001,427,269 Others 34,187,848,582 1,621,590,067 35,809,438,649

Total 226,677,988,912 20,199,666,591 246,877,655,503 Allowance of possible losses on other receivables (Note 46f) (6,000,000,000) - (6,000,000,000)

Net 220,677,988,912 20,199,666,591 240,877,655,503

2008


Prepaid expenses 69,032,701,016 - 69,032,701,016 Domestic usance letter of credit (SKBDN) receivable 5,056,876,877 - 5,056,876,877 Stationary supplies 4,114,482,862 - 4,114,482,862 ATM Bersama receivables 3,764,297,980 32,700,000 3,796,997,980 Security deposits 3,378,466,701 - 3,378,466,701 Western Union Mandiri receivables 3,209,211,164 - 3,209,211,164 ATM Prima receivables 681,303,498 - 681,303,498 Cost associated with landrights 3,236,075 - 3,236,075 Usance import letter of credit receivables - 19,349,803,478 19,349,803,478 Others 12,722,711,189 24,329,510 12,747,040,699

Total 101,963,287,362 19,406,832,988 121,370,120,350

Prepaid expenses in 2009 consist of prepaid building rental amounting to Rp52,139,325,975, prepaid building renovation expenses amounting to Rp31,932,644,710, and prepaid expenses relating to new branch opening expenses amounting to Rp7,712,229,791.

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14. LIABILITIES DUE IMMEDIATELY

2009


Third parties Reserve and bonus for employees, Board of directors and commissioners 96,196,302,296 - 96,196,302,296 Entrusted funds from customers 95,421,639,501 1,089,245,120 96,510,884,621 Accrued expenses 17,414,929,788 176,156 17,415,105,944 Bank’s zakat 15,764,575,726 - 15,764,575,726 ATM Bersama payable 7,385,980,019 - 7,385,980,019 ATM Prima payable 6,857,924,091 - 6,857,924,091 Suspense account payment to suppliers 4,944,411,334 - 4,944,411,334 Employees’, customers’ and others’ zakat 4,893,556,368 3,848,055 4,897,404,423 Payable to notary 4,400,287,483 - 4,400,287,483 Payable to insurance companies 3,789,806,738 - 3,789,806,738 Qardhul hasan 514,916,958 1,070,361,786 1,585,278,744 Others 14,929,842,271 2,560,723,930 17,490,566,201

272,514,172,573 4,724,355,047 277,238,527,620 Related party Liabilities from using Bank Mandiri’s ATM 16,589,031,715 - 16,589,031,715 Total 289,103,204,288 4,724,355,047 293,827,559,335

2008


Third parties Entrusted funds from customers 85,878,325,429 1,046,633,789 86,924,959,218 Reserve for employees, Board of directors and commissioners 42,743,770,441 - 42,743,770,441 Accrued expenses 6,633,015,206 - 6,633,015,206 Employees’, customers’ and others’ zakat 5,064,996,902 2,520,691 5,067,517,593 ATM Bersama payable 5,026,259,680 - 5,026,259,680 Suspense account payment to suppliers 4,657,804,269 - 4,657,804,269 Payable to insurance companies 2,290,670,169 - 2,290,670,169 Qardhul hasan 2,274,146,958 745,957,650 3,020,104,608 Payable to notary 1,569,355,149 - 1,569,355,149 ATM Prima payable 960,861,451 - 960,861,451 Bank’s zakat - - - Others 8,586,750,825 37,741,250 8,624,492,075

165,685,956,479 1,832,853,380 167,518,809,859 Related party Liabilities from using Bank Mandiri’s ATM 14,295,145,760 - 14,295,145,760 Total 179,981,102,239 1,832,853,380 181,813,955,619

Reserve for employees, Board of Directors and Board of Commissioners represents accruals for holiday allowance, accruals of quarterly divisional performance bonus, accrual for year end bonus and accrual for tantiem of Board of Directors and Board of Commissioners.

Entrusted funds from customers represents deposit from customer that has not been channelled by the Bank. As of December 31, 2009 and 2008, this account represents deposit of mudharabah muqayyadah channeling fund amounting to Rp86,883,906,345 and Rp75,968,017,731, respectively.

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14. LIABILITIES DUE IMMEDIATELY (continued) Bank’s zakat represents the Bank’s zakat payable for current year which is calculated based on income

before tax. Suspense account payment to suppliers represents an account to accommodate failed transfer by the

Bank to its suppliers. Employees’, customers’ and others’ zakat represents account for entrusted zakat, infaq and shadaqah

from Bank and other parties. Payable to notary represents deposit from debtors for notary fee in regards of financing transactions

which has not been paid yet to the notary by the Bank.

Payable to insurance companies represents deposit from debtors for insurance premium which has not been paid yet to insurance companies by the Bank.

Qardhul hasan represents penalty from financing debtors and non-halal income from current accounts

with conventional bank. Included in the qardhul hasan fund is non-halal income from current accounts with conventional banks amounting to Rp519,767,031 and Rp223,252,164 as of December 31, 2009 and 2008, respectively.

Liabilities from using Bank Mandiri’s ATM represent liabilities arising from the Bank’s customers using

Automated Teller Machine (ATM) of PT Bank Mandiri (Persero) Tbk. 15. UNDISTRIBUTED THIRD PARTIES’ SHARE ON RETURN OF TEMPORARY SYIRKAH FUNDS AND

BONUS 2009 2008

Non-bank Third parties Rupiah Demand deposits 1,693,463,779 1,317,053,596 Time deposits 49,673,492,935 46,916,478,434 Saving deposits 21,533,765,926 20,442,052,800

72,900,722,640 68,675,584,830 Foreign currencies Demand deposits 204,232,222 337,433,376 Time deposits 590,131,799 706,745,427

794,364,021 1,044,178,803

73,695,086,661 69,719,763,633 Bank Third parties Demand deposits 12,273,789 12,962,633 Time deposits 1,215,919,746 1,260,688,530 Saving deposits 239,797,263 217,387,433

1,467,990,798 1,491,038,596

Total 75,163,077,459 71,210,802,229

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16. WADIAH DEPOSITS 2009 2008

a. Wadiah demand deposits Third parties Rupiah 2,021,441,514,579 1,416,463,704,262 United States Dollar 560,874,005,233 392,605,280,572 Singapore Dollar 787,279,348 1,321,443,065 Euro 2,618,972,143 1,920,110,365

2,585,721,771,303 1,812,310,538,264

Related parties Rupiah 687,564 14,613,102 United States Dollar 51,732,064 -

52,419,628 14,613,102

b. Wadiah saving deposits Third parties Rupiah 95,244,134,318 38,359,066,090

95,244,134,318 38,359,066,090

Total 2,681,018,325,249 1,850,684,217,456

Wadiah deposits represent wadiah yad-dhamanah demand deposits from other parties which, on the

basis of Bank’s policy, will earn bonus.

Bonus of wadiah deposit in Rupiah was ranging from 0.93% to 3.72% per annum in 2009 and ranging from 0.94% to 3.94% per annum in 2008. Bonus of wadiah deposit in United States Dollar was ranging from 0.23% to 1.06% in 2009 and 0.24% to 1.05% in 2008.

17. DEPOSITS FROM OTHER BANKS 2009 2008

Third Parties Rupiah Wadiah demand deposits 10,664,024,854 11,695,605,998 Interbank Mudharabah Investment Certificate (SIMA) 45,000,000,000 -

Total 55,664,024,854 11,695,605,998

Wadiah demand deposits represent wadiah yad-dhamanah demand deposits from other bank which, on

the basis of Bank’s policy, will earn bonus.

Bonus of wadiah demand deposits in Rupiah was ranging from 0.93% to 1.09% per annum in 2009 and ranging from 0.94% to 1.04% per annum in 2008.

SIMA represents investment certificate of interbank placement issued by the Bank with profit sharing scheme. The term of SIMA is ranging from 1 to 6 months. As of December 31, 2009, SIMA represent placement by PT Bank Negara Indonesia (Persero) Tbk - Syariah Business Unit.

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18. TAXATION 2009 2008

a. Taxes payable consists of: Income tax article 25/29 52,666,283,492 6,652,969,646 Other withholding income taxes: Article 4 (2) 13,219,937,416 13,879,589,845 Article 21 3,996,924,635 4,625,476,386 Article 23 650,279,484 472,586,816 Article 25 - 8,177,236,763

Total 70,533,425,027 33,807,859,456

b. The reconciliation between income before income tax expense and the taxable income and corporate income tax expense for the years ended December 31, 2009 and 2008 is as follows:

2009 2008

Income before income tax expense 418,402,513,083 284,084,927,968 Temporary differences: Allowance for/(reversal of) possible losses on: Current accounts with other bank (596,035,484) 3,052,300,496 Placements with other banks 1,879,750,000 (3,321,973,147) Investment in securities/ marketable securities 4,268,831,776 4,670,055,120 Excess of allowance for possible losses on financing 61,723,870,390 1,640,504,347 Estimated losses on commitments and contingencies 63,421,746 796,521,129 Allowance for operational risk losses 3,713,891,067 - Allowance for possible losses on receivable (Note 46f) 6,000,000,000 - Post employments benefits expense 17,644,270,400 3,576,140,327 Depreciation of fixed assets 2,135,005,646 (4,740,553,740)

Permanent differences: Representation 3,148,291,657 2,653,574,131 Employees’ gifts 3,872,443,512 1,671,393,502 Non-operational expense 453,901,048 136,448,767 Rent income (592,572,609) (464,251,044) Others 11,967,641,532 4,206,199,458

Total fiscal corrections 115,682,710,681 13,876,359,346

Taxable income 534,085,223,764 297,961,287,314

Corporate income tax expense 149,543,862,440 89,370,886,100 Prepaid tax article 25 (96,877,578,948) (82,717,916,454)

Income tax payable-article 25/29 52,666,283,492 6,652,969,646

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18. TAXATION (continued)

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 amendment also includes the change in corporate income tax rates from progressive tax rates to a single rate of 28% for fiscal year 2009 and 25% for fiscal year 2010 and beyond. The Company recorded the impact of changes in tax rates as part of a deferred tax expense in the income statement for the year. The Bank will report the same amount of income tax expense for fiscal year 2009 as stated in above.

c. The reconciliation between the Bank income tax expense with the calculation of the accounting income before income tax and prevailing tax rate is as follows:

2009 2008

Income before income tax expense 418,402,513,083 284,084,927,968

Income tax expense calculated from income before income tax 117,152,703,663 85,225,478,390

Effect of tax on permanent differences 5,277,917,439 2,296,942,147 Impact of decrease in tax rate 5,029,263,328 146,567,204

Tax expense-net 127,459,884,430 87,668,987,741

d. Component of tax expense/(benefit): 2009 2008

Tax expense/(benefit): Current tax expense 149,543,862,440 89,370,886,100 Deferred tax benefit (22,083,978,010) (1,701,898,359)

Tax expense-net 127,459,884,430 87,668,987,741

e. Deferred tax assets consist of: 2009 2008

Deferred tax assets: Provision on earning assets 20,867,578,224 8,454,353,045 Provision on post employment benefits 7,053,072,353 4,246,697,098 Other accruals 2,992,675,835 240,015,518 Estimated losses on commitments and contingencies 646,224,187 715,955,338 Allowance for losses on other receivables 1,500,000,000 - Fixed assets 534,239,288 -

33,593,789,887 13,657,020,999 Deferred tax liabilities: - 2,147,209,122

Deferred tax assets-net 33,593,789,887 11,509,811,877

The utilization of deferred tax assets recognized by the Bank is dependent upon future taxable income arising from the reversal of existing taxable temporary differences. ww

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19. ESTIMATED LOSSES ON COMMITMENTS AND CONTINGENCIES This account represents estimated losses on commitments and contingencies which consist of: 2009 2008

Bank guarantees issued 2,543,006,793 2,372,903,365 Outstanding irrevocable letter of credit (LC) 41,889,956 48,600,375

Total 2,584,896,749 2,421,503,740

As of December 31, 2009 and 2008, all bank guarantees issued and outstanding irrevocable LC are

classified as current. Movements in allowance for possible losses on commitments and contingencies are as follows:

2009

United States Rupiah Dollar Total

Balance at beginning of year 1,697,459,379 724,044,361 2,421,503,740 Allowance/(Reversal) for the current year (164,578,140) 227,999,887 63,421,747 Exchange rate differences - 99,971,262 99,971,262


2008


Balance at beginning of year 930,079,299 598,828,106 1,528,907,405 Allowance for the current year 767,380,379 29,140,750 796,521,129 Exchange rate differences - 96,075,206 96,075,206


Management believes that the allowance for possible losses on commitments and contingencies is

adequate to cover possible losses from commitment and contingencies payables and is in compliance with Bank Indonesia regulation.

Commitments and contingencies balances as of December 31 which have credit risk are as follows: 2009 2008

Bank guarantee issued 261,007,285,548 181,188,264,042 Outstanding irrevocable LC 77,664,239,155 25,105,003,078

Total 338,671,524,703 206,293,267,120

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20. OTHER LIABILITIES 2009 2008

Post-employment benefits (Note 35) 28,212,289,412 10,568,019,011 Usance import letter of credit payable 19,744,677,536 145,905,191,389 Guarantee deposits 16,671,471,628 13,893,479,801 Provision on estimated losses from legal cases (Notes 46f and 46g) 11,970,703,340 11,500,000,000 Others 18,075,456,300 9,272,630,889 Total 94,674,598,216 191,139,321,090

Usance import letter of credit payable in 2008 includes of liabilities to Indover Bank amounting to USD8,054,249. Central Bank of Netherlands (De Nederlandsche Bank) has suspended Indover Bank’s operations as the Bank has been declared bankrupt through the decision of Dutch Court on October 6, 2008. The court has handed over the management of assets and liabilities to the appointed trustees. Subsequently, the liabilities have been transferred to PT Bank Mandiri (Persero) Tbk. on October 13, 2009. On such transfer, the Bank has paid to PT Bank Mandiri (Persero) Tbk. the amount of USD8,054,249.

Movements in provision for legal cases are as follows:

2009


Balance at beginning of year 11,500,000,000 - 11,500,000,000 Provision for the current year 470,703,340 - 470,703,340


2008


Balance at beginning of year - - - Provision for the current year 11,500,000,000 - 11,500,000,000


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21. SUBORDINATED NOTES ISSUED 2009 2008

Subordinated Notes Syariah Mudharabah 200,000,000,000 200,000,000,000 Subordinated Notes (Subnotes) Syariah Mudharabah represents marketable securities issued by the

Bank in the form of long term notes with the nominal value of Rp200,000,0000,000, matured within 10 years with call option that can be exercised on year 5 (five) after the issuance date.

Terms and conditions of Subordinated Notes Syariah Mudharabah: - Profit sharing is calculated based on the sharing rate (nisbah) of the subnotes’ holders

multiplied by the unaudited amount of distributable income as stated in the last quarter financial statements of the Bank which have been approved by the Bank’s Board of Directors for not more than ten working days before payment of its profit sharing.

- Distributable income for profit sharing is derived from the Bank’s income from financing portfolio in Rupiah (blended) amounting to Rp200,000,000,000 which was acquired during a quarter as stated in the unaudited financial statements of the Bank.

- Sharing rate (nisbah) given to Subnotes holder is equivalent to 21.93% per annum which was derived from payment of profit sharing each quarter.

The Issuance of Bank’s Subnotes is divided into 3 (three) phases as follows:

- Phase I dated January 31, 2007 with a nominal amount of Rp105,000,000,000 - Phase II dated February 27, 2007 with a nominal amount of Rp65,000,000,000 - Phase III dated April 5, 2007 with a nominal amount of Rp30,000,000,000

Syariah Supervisory Board of the Bank has issued an opinion through its letter number 8/016/DPS dated October 30, 2006 stating that the Subordinated Notes Syariah Mudharabah are in accordance with DSN Fatwa on syariah bonds and mudharabah syariah bonds (DSN-MUI Fatwa No.32/DSN-MUI/ IX/2002 and No.33/DSN MUI/IX/2002). Profit sharing given to the holders of subordinated notes were taken from the portion of the Bank. For the issuance of subordinated notes syariah mudharabah, the Bank has received approval from Bank Indonesia through its letter No. 8/2379/DPbS 2006 dated November 15, 2006 regarding the approval of issuance of Subordinated Notes Syariah Mudharabah. The subnotes are not secured by any specific collateral but are secured by all moveable and immovable assets of the Bank, either existing or will exist in the future in accordance with the clause of article 1131 and article 1132 of the Indonesian Civil Code. PT Bank Mandiri (Persero) Tbk is acting as trustee of the Subordinated Notes Syariah Mudharabah. Based on the latest rating report published in January 2010, the Bank’s Subnotes has a rating of A+ (stable) from Fitch Ratings agency.

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22. TEMPORARY SYIRKAH FUNDS Temporary syirkah funds consist of:

a. Non-Bank 2009 2008

1) Restricted Investments Third parties Demand deposits 4,490,810,000 - Saving deposits 165,252,136,545 89,760,806,285

Total Restricted Investments 169,742,946,545 89,760,806,285

Restricted demand and saving deposits are investments from third parties which will receive return from their investments based on the agreed share (nisbah) of the Bank’s revenue.

2009 2008

2) Unrestricted Investments - Mudharabah Saving Deposits

Third parties BSM saving deposits 5,914,684,714,473 4,497,681,726,603 Mabrur saving deposits 795,550,553,932 530,327,428,740 Investa Cendekia saving deposits 124,962,362,667 89,472,595,222 Berencana BSM saving deposits 61,003,392,028 35,418,683,478 Qurban saving deposits 210,004,476 202,079,690

6,896,411,027,576 5,153,102,513,733 Related parties 5,984,026,306 2,777,449,456

Total Unrestricted Investments - mudharabah saving deposits 6,902,395,053,882 5,155,879,963,189

The unrestricted investments of mudharabah saving deposits represent third parties’ deposits

which will receive return from their investments based on the agreed share (nisbah) of the Bank’s revenue.

The annual profit sharing ratio for investments of mudharabah saving deposits is ranging from

0.29% to 7.08% for 2009 and from 0.29% to 6.83% for 2008. 3) Unrestricted Investments - Mudharabah Time Deposits

2009

United States Rupiah Dollars Total

Third parties 9,254,579,338,771 326,628,317,376 9,581,207,656,147 Related parties 2,149,061,556 405,001,539 2,554,063,095

Total 9,256,728,400,327 327,033,318,915 9,583,761,719,242

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22. TEMPORARY SYIRKAH FUNDS (Continued) 2008

United States Rupiah Dollars Total

Third parties 7,498,115,527,050 301,986,275,719 7,800,101,802,769 Related parties 2,061,725,820 198,435,699 2,260,161,519

Total 7,500,177,252,870 302,184,711,418 7,802,361,964,288

b. Bank

2009 2008

1) Unrestricted investments - mudharabah saving deposits Third parties 98,238,934,434 48,352,825,331

2) Unrestricted investments - mudharabah time

deposits Third parties 207,639,580,500 218,380,534,955

c. Musyarakah - Mudharabah Musytarakah Demand Deposits Third parties 830,924,001 - Unrestricted Investments - Mudharabah Time Deposits (Bank and Non-Bank):

1) By Contract Period (based on agreements)

2009


1 month 6,454,417,453,864 273,306,432,867 6,727,723,886,731 3 months 1,382,892,440,345 22,673,987,138 1,405,566,427,483 6 months 798,536,917,522 15,418,763,965 813,955,681,487 12 months 828,503,318,596 15,651,985,445 844,155,304,041

Total 9,464,350,130,327 327,051,169,415 9,791,401,299,742

2008


1 month 5,399,873,795,394 248,830,285,286 5,648,704,080,680 3 months 986,608,210,857 22,180,129,325 1,008,788,340,182 6 months 1 ,263,012,241,957 29,843,669,061 1,292,855,911,018 12 months 69,063,539,617 1,330,627,746 70,394,167,363

Total 7,718,557,787,825 302,184,711,418 8,020,742,499,243

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22. TEMPORARY SYIRKAH FUNDS (continued) 2) By Remaining Period up to Maturity

2009


1 month 6,723,145,357,745 283,704,951,806 7,006,850,309,551 3 months 1,636,532,478,662 22,903,364,372 1,659,435,843,034 6 months 600,834,190,391 11,150,435,269 611,984,625,660 12 months 503,838,103,529 9,292,417,968 513,130,521,497

9,464,350,130,327 327,051,169,415 9,791,401,299,742

2008


< 1 month 5,796,715,319,954 267,121,281,204 6,063,836,601,158 > 1 - 3 months 967,754,854,262 14,651,990,152 982,406,844,414 > 3 - 6 months 430,180,594,931 10,617,797,365 440,798,392,296 > 6 - 12 months 523,907,018,678 9,793,642,697 533,700,661,375

7,718,557,787,825 302,184,711,418 8,020,742,499,243

The mudharabah time deposits represent third parties’ deposits which received a profit sharing return

from the Bank’s income over utilization of its fund based on an agreed ratio arranged in mudharabah muthlaqah contract.

The annual profit sharing ratio for mudharabah time deposit in Rupiah ranged from 6.08% to 8.85% for

the year 2009 and ranged from 6.09% to 8.54% for the year 2008. The annual profit sharing ratio for mudharabah time deposits in USD ranged from 1.91% to 3.00% for the year 2009 and ranged from 2.36% to 3.28% for 2008.

Mudharabah time deposits with mudharabah muthlaqah contract that is pledged as collateral for

murabahah receivables amounted to Rp224,737,475,998 and Rp237,395,932,883 as of December 31, 2009 and December 31, 2008 respectively.

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23. CAPITAL STOCK The Bank’s shareholders and issued and fully paid share capital as of December 31, 2009 and 2008 are

as follows: 2009

Shareholders Number of Shares % of ownership Total (Rp)

PT Bank Mandiri (Persero) Tbk. 131,648,712 99.999999 658,243,560,000 PT Mandiri Sekuritas 1 0,000001 5,000

Total 131,648,713 100.000000 658,243,565,000

2008

Shareholders Number of Shares % of ownership Total (Rp)

PT Bank Mandiri (Persero) Tbk. 111,648,712 99.999999 558,243,560,000 PT Mandiri Sekuritas 1 0.000001 5,000

Total 111,648,713 100.000000 558,243,565,000

24. GENERAL RESERVE In accordance with the shareholders’ annual general meeting held on June 25, 2009 and June 19, 2008,

the shareholders have decided not to appropriate retained earnings. 25. TANTIEM Based on shareholders’ annual general meeting held on June 25, 2009 and June 19, 2008, the

shareholders agreed to distribute tantiem to Board of Directors and Commissioners which were taken from the tantiem accrual amounting to Rp7,856,637,609 and Rp3,463,655,942, respectively.

26. ISSUANCE OF SHARES

Based on annual Shareholders’ Extraordinary General Meeting held on June 19, 2008 as notarized in the notarial deed No. 10 of Badarusyamsi, SH., Notary in Jakarta, PT Bank Mandiri (Persero) Tbk. made an additional capital contribution amounting to Rp100,000,000,000 in cash. In addition, on December 31, 2008 in accordance with notarial deed No. 211 of Aulia Taufani, SH., Notary in Jakarta, PT Bank Mandiri (Persero) Tbk. made an additional capital contribution amounting to Rp99,871,000,000 in the form of lands and buildings (inbreng) which have been appraised by an independent appraisal. On January 5, 2009 PT Bank Mandiri (Persero) Tbk made an additional capital contribution amounting to Rp100,000,000,000 in cash.

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27. INCOME FROM FUND MANAGEMENT BY BANK AS MUDHARIB This account represents income received from: 2009 2008

Income from sales and purchases: Murabahah margin income 940,223,315,972 824,274,868,266 Istishna income-net 15,549,823,696 12,226,443,738

Total income from sales and purchases 955,773,139,668 836,501,312,004

Income from rent: Income from ijarah 88,733,996,272 85,890,379,571 Ijarah assets depreciation expense (Note 11) (72,820,976,563) (70,649,921,158)

Ijarah income-net 15,913,019,709 15,240,458,413

Income from profit sharing: Mudharabah income 462,263,419,016 443,355,991,550 Musyarakah income 336,319,965,525 260,521,405,989

Total income from profit sharing 798,583,384,541 703,877,397,539

Other main operating income: Profit sharing income on marketable securities 175,710,615,984 118,053,591,481 Bonus income on Certificates of Bank Indonesia Syariah 122,694,241,517 53,429,307,922 Profit sharing income on placements with other banks 2,347,886,786 9,287,513,062

Total other main operating income 300,752,744,287 180,770,412,465

Total income from fund management by bank as mudharib 2,071,022,288,205 1,736,389,580,421

28. THIRD PARTIES’ SHARE ON RETURN OF TEMPORARY SYIRKAH FUNDS AND BONUS This account represents the distribution of profit sharing to customers: 2009 2008

Mudharabah time deposits 638,258,192,753 527,749,934,761 Mudharabah saving deposits 259,178,373,619 217,917,647,999 Restricted investments 3,225,554,205 1,212,515,397 Interbank mudharabah investment certificate 890,363,354 2,635,259,803 Musyarakah - mudharabah musytarakah demand deposit 17,062,473 - Mudharabah Syariah bonds - 18,169,102,020

Total 901,569,546,404 767,684,459,980

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29. OTHER OPERATING INCOME 2009 2008

a. Fee based income from banking services Income from financing administration 101,494,430,456 91,180,338,411 Ujrah income from bailout hajj 90,899,612,914 68,106,133,441 Income from saving deposits administration 52,259,896,700 36,944,635,660 Income from foreign exchange transaction - net 14,242,652,497 17,858,253,478 Income from restructuring compensation (ta'widh) 14,455,293,424 5,569,821,677 Income from administration and commission other than financing 9,224,034,900 7,978,923,970 Income from demand deposits administration 6,996,072,284 6,132,415,912 Income from syndicated financing 4,905,229,787 11,789,412,500

Income from ATM Mandiri transactions 4,226,106,757 3,562,135,000 Income from other ATM transactions 3,842,338,598 1,824,985,160 Income from insurance 3,308,226,107 1,202,303,354 Income from domestics documents services 2,976,310,361 2,846,764,087 Income from exports-imports services 2,103,359,436 780,687,300 Income from RTGS transfers 1,625,592,527 1,442,433,130 Income from deduction on bonds purchases 1,547,290,616 3,835,364,203 Income from payment services 1,338,762,940 2,018,847,662 Income from administration and commission of financing 1,146,112,603 934,895,612 Income on payroll services 1,045,720,499 964,099,942 Others 15,949,487,270 20,208,916,661

333,586,530,676 285,181,367,160

b. Return on restricted investments Return of mudharabah muqayyadah 13,385,773,685 15,805,054,563

13,385,773,685 15,805,054,563

Total 346,972,304,361 300,986,421,723

30. PERSONNEL EXPENSES 2009 2008

Salaries, wages, allowances and employee benefits 316,469,340,347 253,064,393,894 Education and training 40,092,781,155 23,152,607,574 Medical 10,353,269,141 9,779,570,131 Others 28,272,209,547 8,255,275,799

Total 395,187,600,190 294,251,847,398

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31. ADMINISTRATION EXPENSES 2009 2008

Promotion expenses 44,176,450,196 38,249,222,991 Rental expenses 42,832,323,652 36,164,789,094 Outsourcing expenses 37,743,365,565 23,494,745,116 Electricity, telephone, water, and gas expenses 25,561,710,355 19,832,849,823 Repair and maintenance expenses 23,113,158,295 16,465,962,878 Additional margin/profit sharing of Government Notes (SUP) 22,626,424,993 14,392,764,639 Transportation expenses 20,603,905,024 16,809,953,051 Data communication expenses 19,180,945,926 16,806,376,243 Printing and stationary expenses 12,073,893,129 9,358,143,044 Utilization of PT Bank Mandiri (Persero) Tbk ATM expense 11,543,056,000 11,588,390,500 Miscellaneous operational expenses 7,863,158,487 422,396,131 Security expenses 7,448,087,528 5,573,675,397

Non-inventory expenses 6,126,484,230 2,710,294,989 Insurance premium expenses 4,722,810,890 3,747,765,098 Partnership expenses 3,516,659,587 2,869,589,919 Software licenses expenses 3,056,988,880 197,243,081 Bank administration expenses 2,645,247,773 2,190,472,272 Business trip expenses 2,566,725,754 1,645,373,920 Miscellaneous tax expenses 2,076,739,411 2,167,963,339

Entertainment expenses 1,963,993,759 2,019,821,821 Professional fees expenses 1,886,150,269 911,091,982 Office expenses 884,671,281 676,686,345

Research and development expenses 711,550,729 135,023,710 Others 9,930,033,173 10,550,253,332

Total 314,854,534,886 238,980,848,715

32. ALLOWANCE FOR POSSIBLE LOSSES 2009 2008

a. Allowance/(reversal) for possible losses on earning assets: Receivables 198,473,210,385 127,441,556,815 Musyarakah financing 14,023,694,596 161,145,839,925 Mudharabah financing 31,086,591,902 13,288,047,318 Funds of qardh 9,226,634,633 3,020,628,449 Current accounts with other banks (596,035,485) 3,052,300,495 Investments in securities/marketable securities 4,268,831,777 4,670,055,120 Placements with other banks 1,879,750,000 (3,321,973,147)

Total 258,362,677,808 309,296,454,975 b. Allowance for possible losses on non-earning assets 3,914,839,057 24,300,000,000

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32. ALLOWANCE FOR POSSIBLE LOSSES (continued) 2009 2008

c. Estimated losses on commitments and contingencies 63,421,747 796,521,129

Total 262,340,938,612 334,392,976,104

33. OTHER OPERATING EXPENSES 2009 2008

a. Bonus expense: Wadiah demand deposits 19,260,156,300 18,923,170,513 Wadiah simpatik saving deposits 1,149,134,703 637,078,627

Total bonus expenses 20,409,291,003 19,560,249,140 b. Others: Third party guarantee premium insurance expenses 33,641,687,766 27,136,156,180 Interest expenses on subordinated notes - 1,786,666,667 Provision for operational risk expenses 3,712,353,340 11,000,000,000 Others 3,247,028,959 1,179,772,879

Total other expenses 40,601,070,065 41,102,595,726

Total 61,010,361,068 60,662,844,866

34. NON OPERATING INCOME AND EXPENSES 2009 2008

a. Non operating income: Building rental income 592,572,609 464,251,044 Gain on sales of fixed assets 3,294,515,773 279,308,660 Gain on foreign exchange 4,115,410,577 7,801,368,460 Others 471,048,502 107,067,106

Total non-operating income 8,473,547,461 8,651,995,270

b. Non operating expenses Penalties and sanctions 62,550,635 13,057,085 Others 393,121,240 4,493,439,779

Total non operating expenses 455,671,875 4,506,496,864

Total non operating income and expense - net 8,017,875,586 4,145,498,406

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35. PENSION FUND AND POST-EMPLOYMENT BENEFITS

The Bank has a defined contribution pension for all permanent employees which are funded through monthly contribution to the Pension Fund Financial Institution (DPLK) Manulife Indonesia. The DPLK was approved by the Minister of Finance as stipulated in Decree No.KEP-128/KM.6/2002 dated June 17, 2002. The pension fund is funded by the Bank amounting to 10% of employees' gross salary.

Contributions paid to pension fund during the year ended December 31, 2009 and 2008 are

Rp11,600,025,138 and Rp10,590,248,812, respectively. Post-employee benefit expenses have been calculated by an independent actuary, PT Dayamandiri

Dharmakonsilindo in its report dated January 10, 2010. Basic assumptions used to calculate the liability for employee benefits on December 31, 2009 and December 31, 2008 are as follows:

2009 2008

Discount rate 10.5% per annum 12% per annum Salary increase 10% per annum 10% per annum Normal retirement age 56 years 56 years Mortality rate CSO - 1980 CSO - 1980 Resignation rate 10% per annum before age 25 and linearly decreasing to 1% until age 45

Valuation cost method Projected Unit Credit The table below summarizes the components of the net liabilities for employee benefits recognized in

the income statement and the amounts recognized in the balance sheet in relation to the estimated liability for employee benefits as of December 31, 2009 and December 31, 2008 by independent actuary (PT Dayamandiri Dharmakonsilindo) in its report dated January 10, 2010 and 23 January, 2009, respectively.

Post employment benefit expense in the income statements: 2009 2008

Labor Law Long Service No. 13/2003 Award Total Total

Current service cost 3,347,459,916 4,798,228,863 8,145,688,779 3,134,778,992 Interest cost 1,901,206,868 335,068,873 2,236,275,741 1,239,646,211 Immediate recognition of actuarial loss/(gain) (15,994,292) 5,499,142,277 5,483,147,985 (1,406,913,093 ) Amortization of unrecognized past service cost- non vested (73,485,700) - (73,485,700) (73,485,700 ) Benefits paid 968,493,840 - 968,493,840 682,113,917 Others - 3,144,047,301 3,144,047,301 -

6,127,680,632 13,776,487,314 19,904,167,946 3,576,140,327

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35. PENSION FUND AND POST-EMPLOYMENT BENEFITS LIABILITIES (continued)

2009 2008

Labor Law Long Service No, 13/2003 Award Total Total

Present value of obligation 28,729,660,000 9,755,015,313 38,484,675,313 11,683,457,007 Past service cost 3,436,460,112 - 3,436,460,112 822,069,812 Actuarial loss (13,708,846,013) - (13,708,846,013) (1,937,507,808 )

18,457,274,099 9,755,015,313 28,212,289,412 10,568,019,011

2009 2008

Labor Law Long Service No, 13/2003 Award Total Total

Balance at beginning of year 10,568,019,011 - 10,568,019,011 9,577,717,288 Post employment benefit expenses 6,127,680,632 13,776,487,314 19,904,167,946 3,576,140,327 Benefits paid (737,897,545) (1,522,000,000) (2,259,897,545) (2,585,838,604 )

15,957,802,098 12,254,487,314 28,212,289,412 10,568,019,011

36. SEGMENT INFORMATION Segment information based on geographical area is as follows:

2009

Jakarta Jawa Sumatra Kalimantan Others Total

ASSETS Cash 60,172,166,554 160,861,698,742 131,739,422,723 45,799,467,462 48,362,358,665 446,935,114,146 Current accounts and placements with Bank Indonesia 3,340,886,513,736 - - - - 3,340,886,513,736 Current accounts with other banks - net 250,022,736,705 12,427,006,218 4,506,739,349 394,352,047 3,078,602,280 270,429,436,599 Placements with other banks - net 215,795,250,000 - - - - 215,795,250,000 Investment in securities/ marketable securities - net 2,007,002,597,381 - - - - 2,007,002,597,381 Receivables - net 3,011,596,949,660 1,463,780,234,776 2,197,169,992,341 758,128,128,008 392,305,760,699 7,822,981,065,484 Funds of qardh - net 21,924,325,066 752,781,375,703 143,749,365,918 19,782,488,750 113,174,927,399 1,051,412,482,836 Mudharabah financing - net 708,858,777,434 1,329,561,757,153 848,842,594,858 134,208,277,563 253,977,361,836 3,275,448,768,844 Musyarakah financing - net 1,082,900,105,711 902,281,633,687 700,649,713,484 152,683,081,596 162,331,466,377 3,000,846,000,855

Assets acquired for Ijarah - net 80,403,184,566 7,953,949,757 7,164,035,062 8,776,826,774 1,813,550,669 106,111,546,828 Fixed assets and accumulated depreciation - net 168,602,797,531 24,152,273,925 20,736,177,761 4,752,064,674 5,970,979,125 224,214,293,016 Deferred tax assets 33,593,789,887 - - - - 33,593,789,887

Other assets - others (2,298,133,008,932) 1,869,309,010,437 (67,503,134,590 ) 680,347,952,288 56,856,836,300 240,877,655,503

Total Assets 8,683,626,185,299 6,523,108,940,398 3,987,054,906,906 1,804,872,639,162 1,037,871,843,350 22,036,534,515,115

LIABILITIES Liabilities due immediately 270,332,598,407 12,722,232,504 6,308,911,875 2,936,800,761 1,527,015,788 293,827,559,335 Undistributed third parties’ share on return of temporary syirkah funds and bonus 32,969,233,497 21,161,542,964 13,368,881,218 4,724,542,045 2,938,877,735 75,163,077,459 Wadiah deposits 1,439,672,300,067 499,773,769,907 449,640,119,696 201,922,978,111 90,009,157,468 2,681,018,325,249 Deposits from other banks 48,831,940,123 2,867,738,640 2,836,000,582 438,383,883 689,961,626 55,664,024,854 Taxes payable 70,533,425,027 - - - - 70,533,425,027 Estimated losses on commitments and contingencies 2,584,896,749 - - - - 2,584,896,749 Other liabilities (1,372,466,763,591) 880,209,249,195 159,779,845,646 315,909,778,426 111,242,488,540 94,674,598,216

Total liabilities 492,457,630,279 1,416,734,533,210 631,933,759,017 525,932,483,226 206,407,501,157 3,273,465,906,889

SUBORDINATED NOTES ISSUED 200,000,000,000 - - - - 200,000,000,000 TEMPORARY SYIRKAH FUNDS Non bank - Restricted investments 59,757,676,943 54,351,030,043 14,222,179,460 24,118,242,309 17,293,817,790 169,742,946,545 - Unrestricted investment Mudharabah saving deposits 1,404,958,064,656 2,444,308,845,156 1,864,825,237,875 711,081,398,295 477,221,507,900 6,902,395,053,882 - Unrestricted investment Mudharabah time deposits 5,587,623,053,471 2,190,599,337,569 1,203,039,245,352 346,618,363,409 255,881,719,441 9,583,761,719,242 Bank - Unrestricted investment Mudharabah saving deposits 5,083,697,334 31,771,141,589 16,053,257,940 32,737,656,495 12,593,181,076 98,238,934,434 - Unrestricted investment Mudharabah time deposits 26,221,000,000 47,210,000,000 23,660,350,500 94,500,000,000 16,048,230,000 207,639,580,500 Musyarakah - Mudharabah musytarakah demand deposits - 236,666,666 594,257,335 - - 830,924,001

TOTAL TEMPORARY SYIRKAH FUNDS 7,083,643,492,404 4,768,477,021,023 3,122,394,528,462 1,209,055,660,508 779,038,456,207 16,962,609,158,604

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36. SEGMENT INFORMATION (continued) 2008


ASSETS Cash 54,834,797,061 94,620,764,122 104,223,287,498 38,095,291,463 23,972,756,878 315,746,897,022 Current accounts and placements with Bank Indonesia 2,120,005,704,839 - - - - 2,120,005,704,839 Current accounts with other banks - net 287,966,931,456 7,591,040,896 6,297,306,139 215,269,747 669,968,871 302,740,517,109 Placements with other banks - net 29,700,000,000 - - - - 29,700,000,000 Investment in securities/ marketable securities - net 1,261,123,388,438 - - - - 1,261,123,388,438 Receivable - net 3,085,782,292,547 1,027,351,781,102 1,682,484,242,399 615,780,095,203 255,117,451,000 6,666,515,862,251 Funds of qardh - net 36,212,731,523 404,112,764,138 94,472,800,000 51,535,891,156 25,689,800,000 612,023,986,817 Mudharabah financing - net 590,270,565,552 1,224,491,560,464 744,600,169,524 184,217,360,473 182,491,414,295 2,926,071,070,308 Musyarakah financing - net 815,746,814,243 693,667,287,668 563,671,313,967 161,909,112,939 122,195,343,278 2,357,189,872,095 Assets acquired for ijarah - net 105,809,571,012 5,275,256,461 13,769,329,936 17,391,011,453 3,213,604,209 145,458,773,071 Fixed assets and accumulated depreciation - net 158,691,135,840 13,968,739,876 12,888,131,470 3,612,053,340 2,856,161,485 192,016,222,011 Deferred tax assets 11,509,811,877 - - - - 11,509,811,877 Other assets - others (1,963,482,984,597 ) 1,434,057,791,271 115,669,847,843 378,373,464,526 161,217,760,364 125,835,879,407

Total Assets 6,594,170,759,791 4,905,136,985,998 3,338,076,428,776 1,451,129,550,300 777,424,260,380 17,065,937,985,245

LIABILITIES Liabilities due immediately 159,665,294,631 9,317,625,135 10,498,703,807 1,101,379,205 1,230,952,841 181,813,955,619 Undistributed third parties’ share on return of temporary syirkah funds and bonus 32,817,461,491 18,117,066,187 12,467,897,685 4,900,163,484 2,908,213,382 71,210,802,229 Wadiah deposits 887,916,540,453 356,293,604,008 429,524,059,341 116,797,708,420 60,152,305,234 1,850,684,217,456 Deposits from other bank 991,655,757 4,135,655,978 6,184,893,206 243,617,939 139,783,118 11,695,605,998 Taxes payable 33,807,859,456 - - - - 33,807,859,456 Estimated losses on commitments and contingencies 2,421,503,740 - - - - 2,421,503,740 Other liabilities (934,678,017,761 ) 684,648,837,280 147,720,523,052 217,019,079,580 76,428,898,939 191,139,321,090

Total liabilities 182,942,297,767 1,072,512,788,588 606,396,077,091 340,061,948,628 140,860,153,514 2,342,773,265,588

SUBORDINATED NOTES ISSUED 200,000,000,000 - - - - 200,000,000,000


TEMPORARY SYIRKAH FUND Non bank - Restricted investments 14,301,625,078 15,188,884,423 8,853,842,633 45,940,443,000 5,476,011,151 89,760,806,285 - Unrestricted investment Mudharabah saving deposits 974,159,274,838 1,837,784,619,000 1,455,581,103,541 575,952,976,906 312,401,988,904 5,155,879,963,189 - Unrestricted investment Mudharabah time deposits 4,669,294,728,099 1,616,620,235,958 932,353,730,561 312,280,968,258 271,812,301,412 7,802,361,964,288 Bank - Unrestricted investment Mudharabah saving deposits 3,583,458,000 19,786,430,983 16,158,641,295 8,749,719,306 74,575,747 48,352,825,331 - Unrestricted investment Mudharabah time deposits 6,036,500,000 44,780,500,000 75,359,074,955 92,204,460,000 - 218,380,534,955

TOTAL TEMPORARY SYIRKAH FUNDS 5,667,375,586,015 3,534,160,670,364 2,488,306,392,985 1,035,128,567,470 589,764,877,214 13,314,736,094,048

37. TRANSACTIONS WITH RELATED PARTIES In the course of its business, the Bank entered into transactions with related parties. Balances of assets, liabilities, unrestricted investments, and administrative expenses arising from

transactions with related parties are as follows: 2009 2008

Assets Current accounts with other banks PT Bank Mandiri (Persero) Tbk. 94,978,790,309 60,115,911,775 Murabahah receivables of key employees 4,288,223,429 2,898,441,472

Total 99,267,013,738 63,014,353,247

Percentage to total assets 0.45% 0.38%

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37. TRANSACTIONS WITH RELATED PARTIES (continued)

2009 2008

Liabilities Liabilities due immediately PT Bank Mandiri (Persero) Tbk. 16,589,031,715 14,295,145,760 Wadiah demand deposits of key employees 52,419,628 14,613,102

Total 16,641,451,343 14,309,758,862

Percentage to total liabilities 0.51% 0,51%

Unrestricted Investments Mudharabah saving deposits of key employees 5,984,026,306 2,777,449,456 Mudharabah time deposits of key employees 2,554,063,095 2,260,161,519

Total 8,538,089,401 5,037,610,975

Percentage to temporary syirkah funds 0,03% 0.04%

2009 2008

Administrative Expenses Expenses from utilization of

PT Bank Mandiri (Persero) Tbk ATM 11,543,056,000 11,588,390,500 Expenses from additional margin/profit sharing of Government Notes (SUP) - PT Bank Mandiri (Persero) Tbk 22,626,424,993 14,392,764,639 Percentage to total administration expenses 10.85% 10.87%

PT Bank Mandiri (Persero) Tbk is the majority shareholder of the Bank. Key employees are people who

have a relationship of authority and responsibility as defined in PSAK No. 7, “Related Parties Disclosures”.

On December 31, 2009 and 2008, the Bank has a building lease agreement with PT Usaha Gedung

Bank Dagang Negara (PT UGBDN) where PT UGBDN is a subsidiary of PT Bank Mandiri (Persero) Tbk.

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38. COMMITMENTS AND CONTINGENCIES 2009 2008

Commitment Payables Unused facility of customer financing 1,093,244,390,970 793,556,550,301 Outstanding Irrevocable L/C 77,664,239,155 25,105,003,078

1,170,908,630,125 818,661,553,379 Contingencies Payables Guarantees issued 251,761,363,366 179,595,945,531 Others 9,245,922,182 1,592,318,511

261,007,285,548 181,188,264,042

Total 1,431,915,915,673 999,849,817,421

39. NET OPEN POSITION In accordance with Bank Indonesia regulation No.7/37/PBI/2005 dated September 30, 2005 concerning

the Second Amendment to Bank Indonesia Regulation No.5/13/PBI/2003 regarding Bank Net Open Position, the Net Open Position (NOP) is the sum of absolute value of the net difference between assets and liabilities of each foreign currency, either on the balance sheet or off balance sheet.

As of December 31, 2009 and 2008, the Bank has complied with Bank Indonesia Regulation on Net

Open Position. The Bank Net Open Position (NOP) as of December 31, 2009 and 2008 are as follows:

2009

Liabilities and Assets and Off Off Balance Balance Sheet Sheet Net Open Assets Liabilities Position (Absolute) (In millions of Rupiah) (In millions of Rupiah) (In millions of Rupiah)

United States Dollar 1,422,706 1,470,929 48,223 Saudi Arabia Riyal 2,044 - 2,044 Singapore Dollar 7,219 6,267 952 Euro 28,896 27,555 1,341 Australian Dollar 1,965 - 1,965 Japanese Yen 20,782 20,585 197

Total 1,483,612 1,525,336 54,722

Capital 1,776,200

Percentage of NOP to Capital 3.08%

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39. NET OPEN POSITION (continued) 2008

Liabilities and Assets and Off Off Balance Balance Sheet Sheet Net Open Assets Liabilities Position (Absolute) (In millions of Rupiah) (In millions of Rupiah) (In millions of Rupiah)

United States Dollar 1,216,380 1,256,263 39,883 Saudi Arabian Riyal 1,281 - 1,281 Singapore Dollar 6,437 4,941 1,496 Euro 28,872 24,356 4,516 Australian Dollar 1,314 - 1,314 Japanese Yen 23,652 23,390 262

Total 1,277,936 1,308,950 48,752

Capital 1,433,269

Percentage of NOP to Capital 3.40%

40. ZAKAT

In accordance with annual General Meeting of Shareholders for year 2009 which was held on June 25,

2009, the shareholders approved the payment of Bank’s zakat amounting to 2.5% of net profit for 2008 totaling Rp4,910,398,506 which was recorded as 2009 expenses. The zakat will be distributed by the Lembaga Amil Zakat (LAZ) BSM Ummat.

The Bank has calculated and recorded zakat payable for year 2009 based on the profit before zakat and income tax for the year amounting to Rp10,854,177,220, which was recorded as 2009 expenses. Total zakat liability as of December 31, 2009 Rp15,764,575,726 represents zakat for the year 2009 and 2008 amounted to Rp10,854,177,220 and Rp4,910,398,506, respectively.

41. PENALTY Penalty for late payment is charged to the borrowers. The late payment fee charged is determined in

accordance with the Bank’s internal regulation, The Bank did not recognize any revenue from such fee, as the fee was allocated to qardhul hasan fund. The Bank received late payment fee for the year ended December 31, 2009 and 2008 of Rp631,814,078 and Rp2,151,357,482, respectively. The fund will be distributed through Lembaga Amil Zakat (LAZ) BSM Ummat.

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42. RESTRICTED INVESTMENT FUNDS 2009 2008

Mudharabah Muqayyadah Financing Government Bond (SUP-Surat Utang Pemerintah) 154,061,659,157 138,096,342,071 Mudharabah Muqayyadah Financing Debt for Nature Swap (DNS) 10,536,827,785 11,633,347,051 Mudharabah Muqayyadah Financing (Dana Bergulir Syariah) 57,609,682,960 67,568,768,227 Other Mudharabah Muqayyadah Financing 53,021,543,359 53,348,851,311

Total 275,229,713,261 270,647,308,660

Mudharabah Muqayyadah financing is an activity of shahibul maal to provide fund for investment or

working capital to mudharib for conducting business activities in accordance with the contract. The sharing of profits is in accordance with the agreement.

Mudharabah muqayyadah SUP (SUP-Government Bond) financing is the syndication financing facilities

for Micro and Small Business Financing (PUMK-Pembiayaan Usaha Mikro dan Kecil) in accordance with the Bank Indonesia Regulation on Small Business Lending No. 3/2/PBI/2001 dated January 4, 2001 and Circular Letter of Bank Indonesia No. 3/9/Bkr dated May 17, 2001 regarding Guidelines for Small Business Lending. The Government which was represented by Minister of Cooperatives and Small and Medium Enterprise has appointed Bank Mandiri as a State Owned Enterprise which was subsequently channeled to the Bank. In the agreement No. JCCO.IV/350/PK-KUMK/2004 on September 10, 2004, the cooperation conducted between Bank Mandiri and the Bank is that Bank Mandiri as Shahibul Maal and the Bank as executor in the framework of the distribution of Micro and Small Business Financing (PUMK) to Micro and small entrepreneurs who meet the requirements for granting PUMK determined by the Bank. Total PUMK to the micro business is at maximum of Rp50,000,000 and total PUMK to small businesses is at maximum of Rp500,000,000.

The agreement mentioned that the Bank is obliged to transfer margins that have been received from

debtors to Bank Mandiri every three months. As an executor (delivery agent) in this financing, the Bank received commission on the margin received from debtors each month equal to 35% and pay equal to 65% of the income received from debtors, which is equal to the 3 (three) months SBI rate to Bank Mandiri. This agreement will expire on December 10, 2009, but on May 29, 2008, in letter No. MRB.SBS/BPD.1619/2008, the agreement was extended until December 10, 2019, The portion of funds received by the Bank as of December 31, 2009 amounted to Rp200,000,000,000.

DNS program (Debt for Nature Swap) is a program that allows debt reduction from creditor country

where the German government to the Indonesian government by providing funds for environmental activities.

Based on the Decision Letter of the Secretary of State Minister of Environment No. KEP-32/SES/LH/

09/2006, the Bank has been appointed as the Executing Bank to distribute The Financing Program Debt for Nature Swap (DNS) environmental sector to Micro and Small Enterprises (MSEs), the maximum amount of financing for the MSEs amounted to Rp500,000,000. This appointment is binded through the agreement No. 11/41-PKS/DIR dated April 13, 2009 between the Bank and the Ministry of Environment, The calculation for the profit sharing to the Bank ranged between 33% to 50% of the margin received from the debtors.

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42. RESTRICTED INVESTMENT FUNDS (continued) Syariah Revolving Fund hereinafter referred as DBS (Dana Bergulir Syariah) is government funds from the State Budget which is distributed to Syariah Financial Services Cooperatives (KJKS-Koperasi Jasa Keuangan Syariah) and Syariah Financial Services Unit (UJKS-Unit Jasa Keuangan Syariah) within a certain timeframe to meet the needs of their members for financing in various productive activities, State Ministry of Cooperatives - Financing Division has cooperated with the Bank to distribute the DBS financing to KJKS / UJKS.

The portion of profit shared between the Bank and the Ministry of Cooperatives and Small Medium

Enterprises equal to 40% and 60%, 10% of profits that are distributed to the Bank is allocated for reserve of doubtful accounts and 30% for administration, supervision and guidance of KJKS/UJKS.

43. MATURITY ANALYSIS OF ASSETS, LIABILITIES AND TEMPORARY SYIRKAH FUNDS BASED ON

THE REMAINING PERIOD TO MATURITY The table below presents the assets (before allowance for possible losses) and liabilities of the Bank

which are classified based on the remaining period from December 31, 2009 and December 31, 2008 to maturity

2009

Total < 1 month 1 to 3 months 3 to 12 months 1 to 5 years > 5 years

Rp Rp Rp Rp Rp Rp ASSETS Cash 446,935,114,146 446,935,114,146 - - - - Current accounts and placements with Bank Indonesia 3,340,886,513,736 3,340,886,513,736 - - - - Current accounts with other banks 273,170,783,424 273,170,783,424 - - - - Placements with other banks 217,975,000,000 217,975,000,000 - - - - Investments in securities/ marketable securities 2,024,012,777,161 10,318,084,930 - 92,320,627,249 1,119,377,716,612 801,996,348,370 Account Receivables 8,294,994,068,580 218,721,653,775 236,127,956,664 759,823,688,569 6,178,825,643,488 901,495,126,084 Funds of qardh 1,066,811,728,459 75,293,700,593 118,598,402,145 757,413,385,844 115,463,239,877 43,000,000 Mudharabah financing 3,338,842,556,078 5,043,264,743 32,804,695,387 203,328,715,386 3,045,596,264,507 52,069,616,055 Musyarakah financing 3,256,612,594,350 997,680,610,330 656,523,181,896 1,132,871,907,755 434,766,506,593 34,770,387,776 Fixed assets - net 224,214,293,016 - - - 124,298,848,397 99,915,444,619 Other assets 406,797,831,275 44,370,330,386 178,083,517,393 9,496,728,283 170,552,674,157 4,294,581,056

Total assets 22,891,253,260,225 5,630,395,056,063 1,222,137,753,485 2,955,255,053,086 11,188,880,898,631 1,894,584,503,960

LIABILITIES Liabilities due immediately 293,827,559,335 293,827,559,335 - - - - Undistributed third parties’ share on return of temporary syirkah funds and bonus 75,163,077,459 75,163,077,459 - - Wadiah deposits 2,681,018,325,249 2,681,018,325,249 - - - - Deposits from other banks 55,664,024,854 55,664,024,854 - - - - Taxes payable 70,533,425,027 70,533,425,027 - - - -

Estimated losses on commitment and contingencies 2,584,896,749 2,584,896,749 - - - -

Other liabilities 94,674,598,216 94,674,598,216 - - - -

Total liabilities 3,273,465,906,889 3,273,465,906,889 - - - -

SUBORDINATED NOTES ISSUED 200,000,000,000 - - - - 200,000,000,000 TEMPORARY SYIRKAH FUNDS Restricted investments 169,742,946,545 169,742,946,545 - - - - Unrestricted investments Mudharabah saving deposits 6,902,395,053,882 6,902,395,053,882 - - - - Unrestricted investments Mudharabah time deposits 9,583,761,719,242 6,832,901,959,051 1,653,760,843,034 1,097,098,917,157 - - Unrestricted investments Mudharabah bank saving deposits 98,238,934,434 98,238,934,434 - - - - Unrestricted investments Mudharabah bank time deposit 207,639,580,500 173,948,350,500 5,675,000,000 28,016,230,000 - - Musyarakah - Mudharabah musytarakah demand deposits 830,924,001 830,924,001 - - - -

Total temporary syirkah funds 16,962,609,158,604 14,178,058,168,413 1,659,435,843,034 1,125,115,147,157 - -

Difference in assets with liabilities and temporary syirkah funds 2,655,178,194,732 (11,821,129,019,239) (437,298,089,549) 1,830,139,905,929 11,188,880,893,631 1,894,584,503,960

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43. MATURITY ANALYSIS OF ASSETS, LIABILITIES AND TEMPORARY SYIRKAH FUNDS BASED ON THE REMAINING PERIOD TO MATURITY (continued)

2008

Total < 1 month 1 to 3 months 3 to 12 months 1 to 5 years > 5 years

Rp Rp Rp Rp Rp Rp ASSETS Cash 315,746,897,022 315,746,897,022 - - - - Current accounts and placements with Bank Indonesia 2,120,005,704,839 2,120,005,704,839 - - - - Current accounts with other banks 305,798,502,130 305,798,502,130 - - - - Placements with other banks 30,000,000,000 30,000,000,000 - - - - Investments in securities/ marketable securities 1,265,096,511,924 50,805,478,089 41,240,739,530 180,670,307,389 512,257,986,916 480,122,000,000 Account Receivables 6,938,833,696,849 249,659,745,514 316,502,432,963 659,557,007,362 5,028,344,709,669 684,769,801,341 Funds of qardh 618,845,394,357 2,836,405,295 20,169,889,062 497,841,600,000 97,972,500,000 25,000,000 Mudharabah financing 2,963,646,871,612 14,420,571,951 52,383,160,369 157,215,127,775 2,634,617,471,379 105,010,540,138 Musyarakah financing 2,613,729,398,339 1,099,688,907,341 583,166,729,394 646,032,075,656 228,744,829,418 56,096,856,530 Other assets 125,835,879,407 27,361,615,113 50,184,562,000 5,056,876,877 41,046,135,557 4,186,689,860

Total assets 17,297,538,856,479 4,216,323,827,294 1,063,647,513,318 2,146,372,995,059 8,542,983,632,939 1,330,210,887,869

LIABILITIES Liabilities due immediately 181,813,955,619 181,813,955,619 - - - - Undistributed third parties’ share on return of temporary syirkah funds and bonus 71,210,802,229 71,210,802,229 Wadiah deposits 1,850,684,217,456 1,850,684,217,456 - - - - Deposits from other banks 11,695,605,998 11,695,605,998 - - - - Taxes payable 33,807,859,456 33,807,859,456 - - - -

Estimated losses on commitment and contingencies 2,421,503,740 2,421,503,740 - - - -

Other liabilities 191,139,321,090 191,139,321,090 - - - -

Total liabilities 2,342,773,265,588 2,342,773,265,588 - - - -

SUBORDINATED NOTED ISSUED 200,000,000,000 - - - - 200,000,000,000 DANA SYIRKAH TEMPORER Restricted investments 89,760,806,285 89,760,806,285 - - - - Unrestricted investments Mudharabah saving deposits 5,155,879,963,189 5,155,879,963,189 - - - - Unrestricted investments Mudharabah time deposits 7,802,361,964,288 5,877,175,526,203 953,446,844,414 971,739,593,671 - - Unrestricted investments Mudharabah bank saving deposits 48,352,825,331 48,352,825,331 - - - - Unrestricted investments Mudharabah bank time deposit 218,380,534,955 186,661,074,955 28,960,000,000 2,759,460,000 - -

Total temporary syirkah funds 13,314,736,094,048 11,357,830,195,963 982,406,844,414 974,499,053,671 - -

Difference in assets-liabilities and temporary syirkah funds 1,635,915,013,982 (9,490,394,117,118 ) 81,240,668,904 1,171,873,941,388 8,542,983,632,939 1,330,210,887,869

The following is the Bank’s efforts to reduce the existing maturity gap:

1. Manage third party funds to be disbursed in the form of receivables and financing within the term period which shall not exceed the third party funding time period. The short-term third party funds shall be disbursed into the short-term receivables and financing. Similarly, long-term third party funds shall be disbursed into the long-term receivable and financing.

2. Maintain relationship and encourage customers to deposit their funds for longer-term period by granting competitive yields.

44. “LEMBAGA PENJAMIN SIMPANAN” GUARANTEE FOR THE PAYMENT OF OBLIGATIONS OF

COMMERCIAL BANKS Based on LPS Regulation No. 1 dated March 9, 2006, the deposits guaranteed included demand

deposits, time deposits, certificates of deposits, saving deposits, and deposits from other banks. On September 22, 2004, the President of the Republic of Indonesia approved the Law No. 24 of the

Lembaga Penjamin Simpanan (LPS) (the Law). Based on the Law, LPS will guarantee customer’s deposits up to Rp100,000,000 and actively participate in maintaining the stability of the banking system in accordance with the authority given. The Law became effective from September 22, 2005 and since that date, the LPS has been formally operated.

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44. “LEMBAGA PENJAMIN SIMPANAN” GUARANTEE FOR THE PAYMENT OF OBLIGATIONS OF COMMERCIAL BANKS (continued) On October 13 2008, the President of the Republic of Indonesia approved the Government Regulation No. 66, 2008 regarding the maximum amount of deposits guaranteed by LPS. Based on such regulation, the maximum amount of deposits guaranteed for a particular customer in a bank which previously according to the Law No. 24, 2004 amounted to Rp100,000,000 was amended to Rp2,000,000,000.

45. RISK MANAGEMENT

The risk management is implemented integratively through the improvement of risk management infrastructure and execution of risk management process based on prudentality. The implementation of risk management is expected to prevent the loss that exceed the Bank’s ability to cover such losses or that endanger the going concern of the Bank.

Good Corporate Governance (GCG) Implementation

The Strengthening Corporate Governance of the Bank is not only support the business efficiency, transparency and accountability, but also contribute to strengthen the community as a whole. The external views on the implementation of the Bank’s GCG is represented by completing checklist by several respondents. This assessment is utilized to complete the GCG performance and improve the level of service to customers. Respondents from the Controlling Shareholder (PSP), Public Accounting Firm (KAP) and Vendor (IT vendors, Logistics, Notaries, Law Office) provided “good” category results.

With regard to the Code of Conduct (CoC), the Board of Directors has increased the implementation of "La Risywah, No Kick Back and No Special Payment". Such movement is a step intended to increase the awareness of all of the Bank’s employees, not only to the customers (on the signing of Financing Agreement) in the working environment (Circular Letter regarding Souvenir/gift/ keepsakes to the Bank’s employee on business trip to the branches), but also for the Bank’s employee to continue working with integrity, responsibility and professionally objective.

The Bank has implemented a Know Your Customer Principle program, where in 2010, the program will

be increased to Anti-Money Laundering (APU) and the Prevention of Terrorism Financing (PTT) at all levels of working units. Socialization and training were carried out regularly to all employees to strengthen the implementation of APU and PTT policies. The Bank also submits an action plan of the APU and PPT program implementation to BI following BI Regulation No.11/28/PBI/2009.

Since application of the Bank Indonesia Regulation No.8/4/PBI/2006 dated January 30, 2006 regarding

the implementation of GCG for commercial banks, the Bank has been continuously increasing its optimization to meet all of its obligations. For semester II 2009, the GCG internal index of the Bank was 91.88 (Better) of a total of 100 (first semester of year 2009 was 88.36), while the Self Assessment report of the GCG implementation to Bank Indonesia for year 2009 was in category of "Very Good".

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45. RISK MANAGEMENT (continued)

Internal Supervisory System The internal supervisory function became an important parts of the Good Corporate Governance, as it

provides the support for the implementation of internal control system, compliance with prevailing regulations and legislation as well as an effective and efficient banking activities management based on the prudential banking principles.

Internal supervisory system is conducted by the Internal Audit Division (DAI), which is independent with

main activity to conduct inspections and supervision of operations and financing aspects based on a risk-based audit, with the mission: a. Protective: to support the protection of the Bank’s assets and resources and potential risks

management. b. Constructive: to support the achievement of the Bank’s goals with the effective and efficient

utilization of resources. c. Consultative: to support the improvement of the Bank’s policy that is able to accommodate business

activities and provide useful recommendations for improvement.

In accordance with Bank Indonesia Regulation No. 1/6/PBI/1999 dated September 20, 1999,

the Internal Audit Division has been reviewed by Public Accountants Drs. J. Tanzil & Partners, Jakarta, according to the report dated June 19, 2008 No. SB.616/0608/KAP, covering audit activity period from June 1 2005 - May 31, 2008 and stating that the Internal Audit Division has performed his duties according to the Standards of Internal Audit Bank (SPFAIB) as defined under the regulation.

To guarantee the quality of audits service, the Internal Audit Division also obtained the ISO 9001:2000 for Quality Management System provided by international agencies Lloyd's Register Quality Assurance (LRQA), for the period March 26, 2004 - March 25, 2007. Further, as the effort to maintain the quality, the certificate assessment of ISO has been renewed in April 2007, for the period of March 26, 2007 - March 25, 2010.

Risk Management In its operations, the Bank faces various risks, i.e.: credit risk, liquidity risk, market risk, operational risk,

regulatory risk, reputation risk, strategic risk and compliance risk. The objective of risk management is to ensure that the Bank has performed the process of identification,

measurement, monitoring and control risks correctly. Another objective is to ensure that the Bank had adequate capital to cope with various potential losses faced in performing the Bank’s operational activities. Risk management process is executed through the establishment of procedures and risk management methodology in order to maintain Bank’s business activities at the acceptable boundaries/ limits and profitable for Bank.

The Bank also has established risk management policies and guidelines which will be integrated in all

the activities and products of the Bank. In addition, the Bank continues to make improvements to infrastructure and risk management policies in accordance with international standards (Basel II).

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45. RISK MANAGEMENT (continued) Risk Management Division has the role and duties to assist the risk owner from each working unit to

identify, measure, monitor and control the inherent risks in its activities or products. Risk Management Division consists of several departments, which are, Financing Risk Opinion Department, Financing Policy Department, Portfolio Management Department and Risk Management Development Division. The Risk Management Division operates under the Director of Compliance and Risk Management.

Risks which should be managed by the Bank is grouped into risk that can be quantified and risks that

cannot or difficult to quantify. Risks that can be quantified are the risk that can be expressed in numbers using the methodology through a validation process. The magnitude of risk became the basis of the operational limit of the Bank. Included in the group that can be quantified are credit risk, market risk, liquidity risk and operational risk.

In addition to quantitative risk, the Bank also manages qualitative risks. Qualitative risks managed by the Bank is legal risk, reputation, strategic, and compliance. Although those risks do not have a direct financial losses impact, the legal risk, reputation, strategic, and compliance has been the Bank’s consideration because of the significant impact of damages that might be caused by such risks. To measure these qualitative risks, the Bank has determined and developed a parameter and weighted risk in converting qualitative data into quantitative data.

46. OTHER IMPORTANT INFORMATION

a. Based on management calculation as of December 31, 2009 and 2008, the Bank has capital adequacy ratio (CAR) of 12.39% and 12.66%, respectively.

b. As of December 31, 2009 and 2008, the Bank has the Classified Earning Assets ratio (APYD) amounting to 0.96 and 0.95, respectively.

c. The ratio of non-performing receivable and financing (gross) to total receivables and financing were 4.84% and 5.66% as of December 31, 2009 and 2008, respectively.

d. In the report of the Legal Lending Limit (LLL) submitted by the Bank to Bank Indonesia, as of December 31, 2009, the Bank did not have receivables, loans and financing that exceeds or violates the LLL.

e. The issue on Value Added Tax (VAT) on murabahah financing. In 2004 and 2005 the head office and several branch offices received tax assessments for under

payment of taxes (SKPKB) and tax collection letters (STP) on Value Added Taxes (VAT) for the tax period January to December 2003 from the Directorate General of Taxes (DGT) with the total amount of Rp37,649,329,708 in relation to the Bank in performing its intermediary function by distributing the fund based on Syariah principles in the form of murabahah financing. The tax assessments and tax collection letters consisted of the Jakarta Head Office of Rp25,542,431,822, Jambi’s branch offices of Rp1,588,713,232, Solo’s branch offices of Rp5,830,767,262, Bandar Lampung’s branch offices of Rp2,377,922,133 and Pekalongan’s branch offices of Rp2,309,495,259.

In relation to the assessments and tax collection letters, the Bank did not make any payments based

on the ground of uncertainty in the legal status of murabahah financing transactions. There was no specific and explicit regulations overseeing the Syariah bank operation, particularly murabahah financing, and therefore a process of interpretation was required.

The Bank argued that murabahah financing is a part of banking services as stipulated in

Law No. 7 Year 1992 regarding Banking, as amended by Law No. 10 Year 1998 and Law No. 21 Year 2008 regarding Syariah Banking. Based on these regulation, murabahah financing should not be subjected to VAT. This is in accordance with Law No. 8 Year 1983 as amended by Law No. 18 of 2000 regarding VAT for goods and services and sales of luxury goods.ww

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46. OTHER IMPORTANT INFORMATION (continued)

e. The issue on Value Added Tax (VAT) on murabahah financing (continued)

Directorate General of Taxes believes that murabahah activities undertaken by the Bank is subject to Value Added Tax (VAT) because the transaction were based on purchasing and selling of goods principles and as such, murabahah transaction shall not be included as a type of banking services.

In order to resolve the issue on the taxation of murabahah transactions, the Bank has discussed in various forums with Asbisindo, Perbanas, the National Syariah Board, Bank Indonesia and Directorate General of Taxation. The Bank has also conducted correspondence with Asbisindo, Bank Indonesia, Directorate General of Taxation, and Deputy Economy Secretary to Vice President of the Republic of Indonesia. In addition, on January 8, 2008 the Bank undertook an effort to resolve the problems by organizing meeting between the Bank, Asbisindo, Directorate of Syariah Banking Bank Indonesia, Bank Indonesia Governor and Vice President of the Republic of Indonesia.

On October 15, 2009, the Government has issued Law No. 42 of 2009 regarding Third Amendment Law No. 8 Year 1983 regarding VAT for Goods and Sales Tax on Luxury Goods with effect from April 1, 2010. This Law confirms that financing services based on syariah principles was included as services exempted from VAT.

Banks continues to settle the issue regarding the imposition of VAT on murabahah financing transaction with parties such as Asbisindo, Perbanas, National Syariah Board, Bank Indonesia and Directorate General of Taxation, but until the date of these financial statements, the discussions are still ongoing and no decision has been taken.

Since the final result on the imposition of VAT on the issue of murabahah transaction has not been decided, the Bank has not provided any provision for this VAT tax exposure for period from January to December 2003 as mentioned above or for other years.

f. Contingency on the Lawsuit of Mudharabah Muqayyadah Financing Agreement

On February 5, 2008, the Bank received a letter from National Syariah Arbitration Board (Basyarnas) which informed the lawsuit regarding the transaction of mudharabah muqayyadah channeling for Angkasa Pura II Pension Fund (DAPENDA)/Shahibul Maal/Fund Owner as the Applicant to the Bank as a Facilitator (Booking Office)/Respondent I and PT Sari Indo Prima (SIP)/Customer/Mudharib as Respondent II.

Arbitration Board of Basyarnas decided to punish the Respondent I and II to pay to the Applicant an amount of Rp10,000,000,000 jointly and severally, according to court decision held on August 21, 2008. Basyarnas has registered the decision to the District Court (PN) in Central Jakarta and Karawang.

The Bank rejected the decision of Arbitration Board of Basyarnas, and has filed a request of Execution Dismissal (“Penolakan Eksekusi”) to the Registrar of District Court of Central Jakarta and Karawang on September 26, 2008 with case number No.169/DPT.P/2008/PN.JKT.PST and No.29/ PDT.P/ 2008/PN.Krw.

District Court of Central Jakarta and Karawang have rejected the Bank’s request of Execution Dismissal. According to the Supreme Court Circular Letter (SEMA) No. 8 of 2008 dated October 10, 2008 which states that “If the decision of Basyarnas with legal bind power were not carried out voluntarily, then the execution will be carried out by the Chairman of Religion Court in the residence of the Applicant”, the District Court of Central Jakarta has delegated the request of Execution Dismissal to the Central Jakarta Religion Court (PAJP). In regards to the delegation, the Bank has filed a request for the execution dismissal to PAJP. The Bank has provided an allowance for possible losses amounting to Rp11,500,000,000 to cover this operational risk. ww

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f. Contingency on the Lawsuit of Mudharabah Muqayyadah Financing Agreement (continued)

The Bank, DAPENDA, and SIP have signed a settlement agreement dated November 30, 2009 which stated that the Bank and SIP agreed to pay the principal amount of financing to DAPENDA amounting to Rp10,000,000,000 (ten billion Rupiah) in accordance with Basyarnas decision. These payments are charged jointly to both the Bank and PT SIP.

The Bank, PT SIP and DAPENDA have agreed for and on behalf both of the Bank and PT SIP to pay the entire principal amount of financing to DAPENDA in the form of Mudharabah Muthlaqah Time Deposits on behalf of DAPENDA totaling Rp10,000,000,000 for 5 years by the issuance of mudharabah muthlaqah time deposits certificate on behalf DAPENDA with 1 (one) month maturity period with automatic rollover (ARO). With the issuance of mudharabah muthlaqah time deposits certificate, DAPENDA declared and acknowledged clearly that Bank and/ or SIP have no longer any obligation to DAPENDA to return the principal amount of financing based on Deed No.108 and the Basyarnas decision.

In relation to the Bank’s payment for principal amount of financing to DAPENDA, the Bank has recognized a receivable from PT SIP with an amount and conditions as agreed in the Agreement signed on October 15, 2009: PT SIP hereby acknowledged the payment obligations to the Bank in the same amount paid by the Bank to DAPENDA as stated in the Agreement and for a maximum of Rp6,000,000,000 (Note 13) and the PT SIP’s obligations will be started and effective upon execution of the settlement or payment by the Bank to DAPENDA by not later than 14 (fourteen) years.

The Bank has formed a full allowance for the receivable from SIP in the financial statements for the year ended December 31, 2009.

g. Lawsuit between Bank and PT Atriumasta Sakti

On January 12, 2009, PT Atriumasta Sakti (PT AS) has sued the Bank through the National Syariah Arbitration Board (Basyarnas) with case number No.16/Tahun 2008/BASYARNAS/Ka.Jak, the parties in this suit are PT AS, as an Applicant and the Bank as the Respondent. On September 16, 2009, the Arbitration Board of Basyarnas decided, among others to punish the Bank to return the fund amounting to Rp878,791,366 (eight hundred seventy-eight million seven hundred ninety-one thousand three hundred and sixty-six rupiah) and refund to PT AS other costs incurred as long as these costs are supported by evidence of payment that has been verified by public accountant firm, the authenticity of the evidence or the magnitude of cost. In response to the decision of the Arbitration Board, on November 10, 2009, the Bank has filed a request of Execution Denial of BASYARNAS decision in Central Jakarta Religion Court with case register No.792/Pdt.G/2009/PAJP. The parties in this suit are the Bank as the Applicant, the Arbitration Board of BASYARNAS as the Respondent I and PT AS as the Respondent II. On December 10, 2009, Central Jakarta Religious Court has decided to grant the Bank’s request for the Execution Denial of BASYARNAS decision No.16/Tahun 2008/BASYARNAS/Ka.Jak decided on September 16, 2009 and registered at the Registrar of Central Jakarta Religious Court in accordance with Deed Registration No.01/BASYARNAS/2009/PAJP dated October 12, 2009 and declared that the BASYARNAS decision No.16/Tahun2008/BASYARNAS/Ka.Jak has no legal bind power. With regards to the decision No.792/Pdt.G/2009/PAJP, PT AS and Arbitration Board of BASYARNAS filed a request of appeal to the Supreme Court through Central Jakarta Religion Court. Up to the financial statements date, the appeal process is still under investigation at the Supreme Court Republic of Indonesia.

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g. Lawsuit between Bank and PT Atriumasta Sakti (continued) The Bank did not make any allowance for possible losses on this lawsuit as of December 31, 2009.

47. OPINION OF SYARIAH SUPERVISORY BOARD Through its letter No.12/001/DPS dated January 15, 2010 and letter No.11/005/DPS dated January 27,

2009, the Syariah Supervisory Board (SSB) of the Bank has stated that in general the Bank’s operation and its products have complied with Syariah rule and fatwa issued by the National Syariah Board Indonesian Ulama Council (MUI-DSN) and opinion of SSB for the fiscal year ended December 31, 2009 and December 31, 2008, respectively.

48. AGREEMENT AND COOPERATION

On September 9, 2009, the Bank entered into the IT service agreement - Core Banking System (the Agreement) with PT Anabatic Technology for period of 12 (twelve) years with a contract value of USD4,448,000. For the year ended December 31, 2009, the Bank has made an initial payment of UD567,600 for license fees in accordance with this Agreement.

49. ECONOMIC CONDITION The Bank’s operations have been affected and will continue to be affected for a certain period in the

future by the economic and monetary conditions in Indonesia and the global economy. Although recently there have been improvements as evidented by the key economic indicators, however Indonesian banks still facing difficulties in lending activities. Improvement of economic conditions and the continuing recovery will depend on several factors such as fiscal and monetary policies and other policies that have been and will be taken by the government, actions which are beyond the control of the Bank.

50. NEW ACCOUNTING STANDARDS

The following summarizes the Statements of Financial Accounting Standards (PSAK) which were recently issued by the Accounting Standards Board: a. 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, 2010. Earlier application is permitted and should be disclosed.

b. PSAK No.55 (Revised 2006), “Financial Instruments: Recognition and Measurement” establishes

the principles for recognizing 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, 2010. Earlier application is permitted and should be disclosed.

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50. NEW ACCOUNTING STANDARDS (continued)

Effective on or after January 1, 2011:

a. PSAK No. 1 (Revised 2009) “Presentation of Financial Statements”. Prescribes the basis for presentation of general purpose financial statements to ensure comparability both with the entity's financial statements of previous periods and with the financial statements of other entities.

b. PSAK No. 2 (Revised 2009) “Statement of Cash Flows”. Requires the provision of information about the historical changes in cash and cash equivalents by means of a statement of cash flows which classifies cash flows during the period from operating, investing and financing activities.

c. PSAK No. 48 (Revised 2009) “Impairment of Assets”. Prescribes the procedures applied to ensure that assets are carried at no more than their recoverable amount and if the assets are impaired, an impairment loss should be recognized.

d. PSAK No. 57 (Revised 2009) “Provisions, Contingent Liabilities and Contingent Assets”. Aims to provide that appropriate recognition criteria and measurement bases are applied to provisions, contingent liabilities and contingent assets and to ensure that sufficient information is disclosed in the notes to enable users to understand the nature, timing, and amount related to the information.

The Bank is presently evaluating and has not determined the effects of these revised and new Standards and Standards Revocation on financial statements.

Based on the letter of Bank Indonesia to all Syariah Commercial Banks and Syariah Business Units No.10/1260/DPBS dated October 15, 2008, the Bank will implement PSAK No. 50 (Revised 2006) and PSAK No. 55 (Revised 2006) for transactions which are not specifically regulated by PSAK Syariah and as long as they are not in conflict with syariah principles.

51. RECLASSIFICATION OF ACCOUNTS

Several accounts in the financial statements as of December 31, 2008 have been reclassified to conform with the presentation of accounts in the financial statements as of December 31, 2009 as follows: Previously Currently Account Description Reported Reclassification reported

a. Balance sheets Liabilities due immediately 161,990,948,729 19,823,006,890 181,813,955,619

Liabilities to other banks 5,527,861,130 (5,527,861,130) - Other liabilities - related party 14,295,145,760 (14,295,145,760) -

b. Statements of income Third parties’ share on return of temporary syirkah funds 793,049,197,352 (25,364,737,372) 767,684,459,980 Profit sharing for subordinated notes issued - 26,577,252,768 26,577,252,768 Administrative expenses 241,669,985,586 (2,689,136,871) 238,980,848,715 Zakat - 2,886,379,952 2,886,379,952 Other operating expenses - others 42,512,354,203 (1,409,758,477) 41,102,595,726

c. Statements of cash flows Cash flows from operating activities

Increase in temporary syirkah funds Unrestricted Investments - 3,797,573,093,763 3,797,573,093,763 Restricted Investments - 89,760,806,286 89,760,806,286

Cash flows from financing activities

Increase in temporary syirkah funds Unrestricted Investments 3,797,573,093,763 3,797,573,093,763 - Restricted Investments 89,760,806,286 89,760,806,286 - ww

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52. COMPLETION OF THE FINANCIAL STATEMENTS The management of the Bank is responsible for the preparation of these financial statements that were

completed on February 15, 2010.

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