ANNUAL REPORT DANAMON 2021-English - Rev

ENABLING CUSTOMERS THROUGH
CONTINUOUS INNOVATIONS AND

COLLABORATIONS
2021 Annual Report

Enabling Customers Through
Continuous Innovations and Collaborations
Enabling Customers through

Continuous Innovations and
Collaborations
PT Bank Danamon Indonesia Tbk. (“Danamon”) with its vision to care and enable millions to prosper for
its customers, employees, and society at large, consistently focuses on customer needs and provides an
increasingly diverse selection of banking products and services with unique value proposition to meet
customers’ financial objectives. It is an embodiment of the Bank’s promise to enable customers through
financial solutions as well as a valuable and caring corporate citizen to the public. Even in the midst of
pandemic challenges, we continuously innovate through digital acceleration. In 2021 Danamon launched
D-Bank PRO, our new mobile banking application with various features and an omnichannel platform
as well as digital Waqf, to increase customer convenience. The Bank also enhanced its D-Connect cash
management platform, while Adira Finance, our multi-finance subsidiary, released its Adiraku 2.0 mobile
application.
Collaboration is another key pillar for Danamon to provide customers with unique value propositions.
Since 2019, we continue to expand and deepen collaboration among Danamon, Adira Finance and MUFG,
our controlling shareholder, including in financial supply chain, payroll services, automotive ecosystem,
real estate ecosystem and sustainable initiatives. Strategic partnerships with digital players, insurance
and asset management partners help to complement our service offerings to customers. Closing the year
of 2021, as part of our collaborative spirit, we launched our first co-brand credit card, Danamon Grab
Card, the card for generation Z and millennial that enables them to be themselves and live their lifestyle.
As Danamon entered its 65th anniversary and beyond, we will continue to find new and better ways to
serve customers and benefit the wider society.
1
PT Bank Danamon Indonesia, Tbk. 2021 Annual Report
CONTINUITY
Continuity
OF THEMES
2018 DELIVERING EXCELLENCE

Danamon continues to transform into a more customer-centric bank, where every process begins
with the customer’s needs and ends with the customer’s satisfaction.
With the latest technologies, Danamon provides digital solutions as a key pillar of our business
strategy. Danamon is fully capable in serving customers from a variety of segments through its lines
of businesses and subsidiaries, providing them with integrated solutions.
MUFG’s investment in Danamon would potentially strengthened the Bank’s network and product
offerings, enabling a partnership with customers in achieving their financial goals.
2019 LOCAL AND GLOBAL CAPABILITIES

REACHING NEW HEIGHTS WITH
PT Bank Danamon Indonesia Tbk. (“Danamon” or “The Bank”) reached an important milestone
in 2019 as Mitsubishi UFJ Financial Group (“MUFG”) became the sole controlling shareholder of
Danamon. Now Danamon has transformed into a unique hybrid bank with strong local network and
knowledge, supported by MUFG’s global network and international and diverse capabilities.
Through these new set of capabilities, Danamon is well equipped to serve holistically the financial
needs of customers and their business ecosystems. Our aim is to understand customer needs
and provide integrated one-stop solution services and quality banking products across business
segments.
Our achievements in 2019 are just the beginning. Danamon’s unique combination of local and global
capabilities will help the Bank to achieve sustainable growth and continue reaching new heights in
future years.
2020 ADAPTING TO NEW NORMAL

WITH CONSISTENT CUSTOMER FOCUS
The COVID-19 pandemic affected every aspect of the economy and life. Companies across all
sectors and of all sizes were impacted. Throughout this period, Danamon has shown the resilience
to withstand these challenges. Our people have demonstrated that they are flexible and responsive
and have continued to serve our customers and maintain their trust. We want to highlight this in
the annual report.
The pandemic has also driven migration of products and services to digital and Danamon has
been nimble enough to respond. We realize that investments in digital and human capital are
the foundations for sustainable long-term growth. These aspects are also reflected in this annual
report.
Finally, we want to emphasize that rising up to these challenges is a community effort. We do

not operate in isolation. Therefore, an important part of the journey towards the new normal is to
strengthen our engagement with stakeholders and with the communities we serve. When we help
the community to prosper, we will also benefit from it.
2
01
Main Highlights
Continuity
2021
Enabling Customers
through
Continuous Innovations and
Collaborations
Danamon’s success in navigating the pandemic throughout 2021 is the implementation
of appropriate business strategy supported by collaborative and innovative culture
as well as strong and sustainable support from MUFG as our controlling shareholder.
The pandemic period that we faced in the previous year encouraged Danamon to
innovate and accelerate digital banking and financial services for conventional, sharia
banking and its subsidiaries. D-Bank Pro, Waqaf and Adiraku digital banking and
financial services developed with features based on the customer needs are able
to leverage business opportunities while creating more interactions with customers
and prospective customers in all business segments. As a result, we were able to
achieve a solid performance in the time of pandemic by always prioritizing excellent
customer service, implementing best practices of corporate governance while
maintaining a harmony between economic, social and environmental aspects.
3
Table OF CONTENts
Table Of Contents
2 Continuity of Themes 80 Employee Demographic

82 Shareholders Composition
4
Table of Contents
84 Majority and Controlling Shareholders
85 Share Listing Chronology
Chapter 1
87 Timeline of Other Securities Listings
FINANCIAL
HIGHLIGHTS 88 Corporate Group Structure
Capital Markets Supporting Institution
90
2021 Financial and Professional
8
Highlight 91 Award and Certification 2021
10 Financial Highlights 93 Information of Corporate Website
13 Sharia Highlights
16 Shares Highlights
Chapter 4
Management
Chapter 2 discussion analysis
Management
Report 96 Macro Economy Review
97 Banking Industry Review
Report from the Board of
25 99 Strategic Review
Commissioners
28 Board of Commissioners 100 Business Prospec
30 Report from the Board of Directors 102 Business Segment Review
36 Board of Directors 103 Enterprise Banking
Report from the Sharia Supervisory 104 Treasury & Capital Market
38
Board 105 Transaction Banking
Chapter 3 107 Small and Medium Enterprise Banking
COMPANY 109 Consumer Banking
PROFILE
110 Sharia Banking
112 Group Marketing
46 Corporate Identity
115 PT ADIRA Dinamika Multi Finance Tbk.
48 Danamon at Glance
Organization Structure of ADIRA
50 Core Business 118
Finance
52 MIlestone 120 Financial Review
55 Vision and Mission
56 Corporate Value
Chapter 5
57 Corporate Logo Operational
58 Operational Areas review
60 Organizational Structure
144 Risk Management
64 Board of Commissioners Profile
264 Human Capital Management
69 Board of Directors Profile
275 Information Technology
77 Profile of Sharia Supervisory Board
279 Operations
79 Profile of Independent Parties
4
01
Main Highlights
Table Of Contents
Chapter 6
Conflict of Interest
good corporate 413
Transactions
governance
414 The Bank's Strategic Plan
284 good corporate governance 417 Access Company Information
Policies, Organs and Implementation 418 Investor Relations

287
of Danamon's Governance 419 Service Quality & Contact Center
Focus and Achievements of 420 Hello Danamon
290 Implementation of Danamon's
Corporate Governance in 2021 421 Corporate Culture
Assessment of the Implementation of 422 Code of Conduct
292
Danamon's Governance in 2021
Anti Bribery and Anti Corruption
423
300 External Assesment Policy
Award for Implementing corporate 423 Anti Fraud Policy
301
Governance
The Implementation of
Danamon's Corporate Governance 426 Corporate Governance Guidelines
301
Implementation Report Implementation
302 General Meeting of Shareholders 431 Integrated Governance
312 Board of Commissioners Implementation and Implementation
432
Report
Committees Under the Board of
324
Commissioners 441 Integrated Compliance Work Unit
Committees Under the Board of 442 Integrated Internal Audit Unit
366
Directors
Implementation of Integrated Risk
443
Affiliated Relationship and Management
Transaction of the Board of Directors,
378 Integrated Governance
the Board of Commissioners and Main 447
Implementation Self Assessment
Shareholders
379 Corporate Secretary
Chapter 7
382 Bank Compliance Function
CORPORATE DATA
Implementation of Anti-Money
387 Laundering (AML) and Combating the
Financing of Terrorism (CTF) Programs 468 Products and Services
391 Internal Audit Unit (Skai) Senior Executive Officers
481
& Executive Officers
Corporate Accountant/External
395 484
Auditor Branches offices & Sharia Branches
397 Risk Management
403 Internal Control System
Chapter 8
Legal Disputes or Significant Cases
Faced By Corporation, Subsidiary, FINANCIAL STATEMENTS
404 Members of Board of Directors
and/ or Members of Board of
Commissioners
506 Financial Statements
405 Significant Cases Faced by Danamon
Transparency of Bank's Financial and
407
Non Financial Condition
408 Remuneration Policy
Bank’s Shares Buy Back
412
and Bond Buy Back
5
#01
FINANCIAL
HIGHLIGHTS
Table Of Contents
6
Table Of Contents
7
2021 FINANCIAL
HIGHLIGHTS
Strong NPAT growth in

the midst of challenging
economic condition
56.1%
NPAT grew 56.1% YoY
to Rp 1.57 trillion. Improvement in
Granular Funding
59.1%
CASA ratio reached 59.1%,
increased by 680bps
compared to last year, in line
Well maintained with Danamon’s focus on
asset quality granular funding.
2.7%
Gross NPL recorded at 2.7% in
2021, improved compared to
previous year at 2.8%.
8
01
Main Highlights
26.7%
Healthy Capital
26.7%
Rp
CAR remains healthy. Consolidated

CAR increased to 26.7% from
25.0% in previous year.
Record high loan loss

coverage ratio
225.6%
LLC reached a record high of
225.6%.
9
FINANCIAL
HIGHLIGHTS
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(in Rp billion)
Description 2021 2020 2019
Assets 192,240 200,890 193,534
Securities - gross 5,534 4,701 9,433
Government Bonds 30,338 25,535 14,227
Loans – grossa) 127,708 134,161 141,460
Investments in shares 82 107 116
Deposits from customers & other banks b)
123,354 126,211 114,275
Total Funding c)
134,405 143,580 138,095
Total liabilities 147,157 157,315 148,117
Total equity 45,083 43,575 45,417
Number of Shares Issued and Fully Paid (in unit) 9,773,552,870 9,773,552,870 9,773,552,870
CONSOLIDATED STATEMENTS OF PROFIT AND LOSS
(in Rp billion)
Net Interest Income 13,747 13,724 14,579
Other operating income – net 3,992 4,192 3,787
Other operating expenses 15,325 15,645 15,093
Net operating income 2,414 2,271 3,273
Non-operating income - net (134) (204) 2,214
Income before tax expense 2,280 2,067 5,488
Income Tax expense 611 978 1,619
Net income from continuing operation 1,669 1,089 3,868
Income after tax expense 1,669 1,089 4,241
Net profit attributable to equity holders of the Parent entity 1,573 1,008 4,073
Net profit attributable to non-controlling interests 96 81 167
Comprehensive Income attributable to equity holders of the Parent 1,776 1,302 4,175
entity
Comprehensive Income attributable to Non-controlling interests 117 81 155
Basic income per share (full amount) 161 103 417
OTHER COMPREHENSIVE INCOME

(in Rp billion)
Actuarial (Loss)/Gain on Post-Employment Benefit 292 (20) (173)
Available for Sale Financial Assets:
1. Changes in fair value in Current Year (16) 737 425
2. Amount Transferred to Profit or Loss in Respect of Fair Value (186) (263) (26)
Change
10
01 Main Highlights
Financial Highlights

Changes in Fair Value of Cashflow Hedge 200 (73) (123)
Income Tax Related to Other Comprehensive Income (69) (92) (14)
Total Comprehensive Income 1,893 1,382 4,330
FINANCIAL RATIOS
Key Financial Ratios (%) 2021 2020 2019

I. Capital
1. Capital Adequacy Ratio (CAR) 26.7 25.0 24.2
Tier 1 ratio 25.9 24.2 23.4
Tier 2 ratio 0.9 0.8 0.8
2. Asset to Equity 4.3 4.6 4.3
II. Earning Assets

1. Non-Performing Earning Assets and Non-Productive Assets to Total 1.5 1.7 2.0
Earnings and Non Productive Assets assets to total earning assets
and total non-earning assets
2. Non-Performing Earning Assets to Total productive Assets 1.4 1.5 1.9
3. Non-Performing Loans (NPL) to Total Loans - Gross 2.7 2.8 3.0
4. Non-Performing Loans (NPL) to Total Loans - Nett 0.4 0.9 2.0
5. Allowance for Impairment Losses for Financial Assets to Productive 4.3 4.0 2.7
Assets
6. Loan Loss Coverage 225.6 199.9 112.6
III. Rentability
1. Return On Average Assets (ROAA) Before Tax 1.2 1.0 3.0
2. Return On Average Assets (ROAA) After Tax 0.8 0.5 2.1
3. Return On Average Equity (ROAE) 4.1 2.7 11.1
4. Debt to Assets 0.8 0.8 0.8
5. Debt to Equity 3.3 3.6 3.3
6. Net Interest Margin (NIM) 7.5 7.4 8.3
7. Cost to Income 47.7 46.3 50.9
8. Operating expense to operating income (BOPO) 86.6 88.9 84.5
IV. Liquidity
1. Loan to Deposit ratio (LDR) 84.6 84.0 98.9
2. CASA Ratio 59.1 52.3 49.7
V. Compliance
1. Percentage of Violation of Legal Lending Limit
a.1. Related Parties - - -
a.2. Third Parties - - -
b. Percentage of Excess of Legal Lending Limit
11
Financial Highlights
Key Financial Ratios (%) 2021 2020 2019

b.1. Related Parties - - -
b.2. Third Parties - - -
2. 2. Statutory Reserve Requirement d)
a. a. GWM Primary IDR

• i. Daily 0.5 - 3.0
• ii. Average 3.0 3.1 3.0
b. b. GWM Foreign Currency (Daily) 2.0 2.0 6.0
3. Net Open Position 0.8 1.4 1.4
Others
1. Total Employees e)
25,866 25,350 28,059
2. Total Branches e)
864 846 920
3. Total ATMs & CDMs 1,471 1,487 1,345
*The figures are derived from consolidated financial statements 2020 which have been audited by Public Accounting Firm Tanudiredja,
Wibisana, Rintis & Rekan (a member of the Pricewaterhouse Coopers network of firms) and consolidated financial statements 2021 which
have been audited by Public Accounting Firm Imelda & Partners (a member of the Deloitte Touche Tohmatsu Limited network of firms)
Catatan:
a) Including loans, receivables from consumer financing and lease receivable from Adira Finance.
b) Including customers deposit and deposit from other banks.
c) Including deposit, bonds, and borrowings.
d) In line with PBI No. 22/3/PBI/2020 and PADG No 23/27/PADG/2021 about Minimum Reserve Requirement in Rupiah and Foreign
Currency for Conventional Commercial Banks (BUK), Sharia Commercial Banks (BUS) and Sharia Business Units (UUS).
e) Including Adira Finance
12
01 Main Highlights
SHARIA Sharia Highlights
HIGHLIGHTS
NET REVENUE SHARING
(in Million Rp)
Average Funds Owner Share

Revenue Sharing
Types of Funds Raiser Balance Ratio (%) Total Profit Sharing Rate of Return (%)
A B C D E=(D/A x 100%) x 12
1. Liabilities to Other - -
Banks
2. Mudharabah Current Accounts
a. Bank 185,221 1,577 10 158 1.02
b. Non Bank 855,443 7,285 15 1,080 1.52
3. Mudharabah Savings Accounts
a. Bank 145,895 1,243 13 162 1.33
b. Non Bank 997,041 8,491 10 840 1.01
4. Mudharabah Time Deposits
a. Bank
- 1 Months 108,882 927 25 232 2.56
- 3 Months 51,613 440 25 110 2.56
- 6 Months 11,621 99 25 25 2.58
- 12 Months 26,497 226 29 64 2.90
b. Non Bank
- 1 Months 882,827 7,519 25 1,880 2.56
- 3 Months 299,321 2,549 25 637 2.55
- 6 Months 97,482 830 25 208 2.56
- 12 Months 37,243 317 28 88 2.84
5. Received Financing - -
Total 3,699,086 31,503
(in Million Rp)
Average Balance Received Revenues

Types of Funds Disbursement
A B
1. Placement with Other Banks - -
2. Murabahah Receivables - -
a. Bank - -
b. Non Bank 4,672,828 42,426
3. Istishna Receivables
a. Bank - -
b. Non Bank - -
4. Multi-service Receivables
a. Bank - -
b. Non Bank - -
5. Pawn Financing - -
13
Sharia Highlights
Average Balance Received Revenues

Types of Funds Disbursement
A B
a. Bank
b. Non Bank
6. Mudharabah Financing
a. Bank 46,018 364
b. Non Bank 2,052,055 4,657
7. Musyarakah Financing
a. Bank
b. Non Bank 1,769,709 8,146
8. Lease Financing
a. Bank
b. Non Bank 486,167 4,081
9. Other Financing
a. Bank
b. Non Bank 998 -
Total 9,027,775 59,674
STATEMENT OF SOURCES AND DISBURSEMENT OF ZAKAT AND WAQF FUNDS

(in Million Rp)
No Description 2021 2020 2019
A. Source and Disbursement of Zakat Funds
1. Acquisition of zakat funds deriving from:
a. Internal Sharia Business Unit (UUS) - -
b. External Sharia Business Unit (UUS) 1,830 3,039 3,605
Total acquisition 1,830 3,039 3,605
2. Disbursement of zakat funds to zakat administrator entities
a. Amil zakat Institution 1,673 4,734
b. Amil zakat Agency 1,134
Total disbursement 1,134 1,673 4,734
B. Source and Disbursement of Waqf Funds
1. Acquisition of waqf funds deriving from:
a. Internal Sharia Business Unit (UUS) - -
b. External Sharia Business Unit (UUS) 4,250 - -
Total acquisition 4,250 - -
2. Disbursement of waqf funds to waqf administrator entities
a. Indonesian Waqf Agency 303 - -
b. Other Nadzir1) Boarding School Foundation 800 - -
c. Other Nadzir2) DD Republika Waqf 586 - -
d. Others 3)
- - -
Total disbursement 1,689 - -
Description:
1) To state the name of institution or parties as nadzir, where UUS disbursed at least 5% (five percent) from total disbursement of waqf funds.
2) If nadzir is more than 1 (one) and at the most 20 (twenty), where the UUS disbursed at least 5% (five percent), to state the name of
institutions or said parties.
3) All nadzir where UUS disbursed less than 5% (five percent) from total disbursement of waqf funds.
14
01 Main Highlights
Sharia Highlights
BENEVOLENCE FUNDS
(in Million Rp)
No Description 2021 2020 2019

1. Beginning balance of benevolence funds 1,551 1,079 1,099
2. Acquisition of benevolence funds
a. Infaq and alms 113 115 185
b. Repayment of productive benevolence funds
c. Fines 3,622 1,440 227
d. Non halal acquisition
e. Others
Total Acquisition 3,735 1,555 412
3. Use of benevolence funds
a. Productive benevolence funds
b. Donations 3,726 1,083 432
c. Other use for general interests
Total Use 3,726 1,083 432
4. Increase / decrease of benevolence funds source 9 472 (20)
5. Ending balance of benevolence funds 1,560 1,551 1,079
15
SHARES
Shares Highlights
HIGHLIGHTS
Share Price Performance
2021
Description Share Price Market capitalization
Transaction Volume
Highest Lowest Closing (Rp Billion)
Quarter I 3,440 2,730 2,730 183,909,500 26,681.80

Quarter II 2,870 2,040 2,040 143,335,300 19,938.05
Quarter III 2,790 2,040 2,660 471,158,100 25,997.65
Quarter IV 2,900 2,350 2,350 279,786,900 22,967.85
SHARE PRICE MOVEMENT CHART

Chart of Trading Volume and Closing Price of Shares Throughout 2021
Share Price (Rp)

Volume
100.000.000 - 4.000
90.000.000 - 3.500
80.000.000
- 3.000
70.000.000
- 2.500
60.000.000
50.000.000 - 2.000
40.000.000
- 1.500
30.000.000
- 1.000
20.000.000
10.000.000 - 500
0 -0
Jan 21 Feb 21 Mar 21 Apr 21 May 21 Jun 21 Jul 21 Aug 21 Sept 21 Oct 21 Nov 21 Dec 21
VOLUME SHARE PRICE (RP)
16
01 Main Highlights
Shares Highlights
2020
Description Share Price Market capitalization
Transaction Volume
Highest Lowest Closing (Rp Billion)
Quarter I 3,375 1,389 1,733 171,741,000 16,940.97

Quarter II 2,990 1,922 2,690 188,059,800 26,290.86
Quarter III 2,850 2,110 2,170 149,566,800 21,208.61
Quarter IV 3,480 2,220 3,200 259,782,800 31,275.37
Chart of Trading Volume and Closing Price of Shares Throughout 2020
Volume Share Price (Rp)

20.000.000
18.000.000 - 4.000
16.000.000 - 3.500
14.000.000 - 3.000
12.000.000
- 2.500
10.000.000
- 2.000
8.000.000
- 1.500
6.000.000
- 1.000
4.000.000
2.000.000 - 500
0 -0
Jan 20 Feb 20 Mar 20 Apr 20 May 20 Jun 20 Jul 20 Aug 20 Sept 20 Oct 20 Nov 20 Dec 20
VOLUME SHARE PRICE (RP)
CORPORATE ACTIONS
Danamon did not conduct any corporate actions in 2021 which affect changes in shares, such as stock splits, reverse
stock, stock dividends, bonus shares, changes in the nominal value of shares, issuance of convertible securities, as
well as capital addition and reduction. Therefore, the Bank does not present information regarding corporate action
as intended.
SUSPENSION AND/DELISTING
In 2020 and 2021, Bank Danamon was not subject to any stock trading sanction either in the form of stock trading
suspension and/or stock delisiting.
17
INFORMATION
Information About Bonds
ABOUT BONDS
For the period ended on 31 December, 2021, Danamon did not conduct listing of bonds, sukuk or convertible bonds,
and other securities. Therefore, the Company did not present any information regarding total number of outstanding
bonds, sukuk or convertible bonds, interest rate/yield, maturity date, or bond ratings.
Corporate bonds that had been issued and not yet matured as of 31 December 2021 are as follows:
Information on Bonds
31 December 2021
Effective Amount Interest
Debt Securities Notification Letter Number (in Million Trustee Payment
Date Rp) Schedule
Danamon Medium Term Notes I February No.S-081/ 500,000 PT Bank Rakyat Quarterly
Danamon Year 2019 2019 PB.32/2018 Indonesia
(Persero) Tbk.
Danamon Continuing Bonds I May 2019 No.S-053/D.04/2019 2,000,000 PT Bank Rakyat Quarterly
Phase I year 2019 Indonesia
(Persero) Tbk.
Adira Finance Continuing Bonds June 2015 No.S-279/D.04/2015 2,014,000 PT Bank Negara Quarterly
III Phase V Year 2017 (Continuing Indonesia
Bonds III Phase V) (Persero) Tbk.
Adira Finance Continuing June 2015 No.S-279/D.04/2015 769,000 PT Bank Negara Quarterly
Bonds III Phase VI Year 2017 Indonesia
(Continuing Bonds III Phase VI) (Persero) Tbk.
Adira Finance Continuing Bonds December No.S-458/D.04/2017 1,300,000 PT Bank Negara Quarterly
IV Phase I Year 2017 (Continuing 2017 Indonesia
Bonds IV Phase I) (Persero) Tbk.
Adira Finance Continuing Bonds December No.S-458/D.04/2017 1.630.000 PT Bank Negara Quarterly
IV Phase II Year 2018 (Continuing 2017 Indonesia
Bonds IV Phase II) (Persero) Tbk.
Adira Finance Continuing December No.S-458/D.04/2017 2,260,000 PT Bank Negara Quarterly
Bonds IV Phase III Year 2018 2017 Indonesia
(Continuing Bonds IV Phase III) (Persero) Tbk.
Adira Finance Continuing December No.S-458/D.04/2017 618,000 PT Bank Negara Quarterly
Bonds IV Phase IV Year 2018 2017 Indonesia
(Continuing Bonds IV Phase IV) (Persero) Tbk.
Adira Finance Continuing Bonds December No.S-458/D.04/2017 2.000.000 PT Bank Negara Quarterly
IV Phase V Year 2019 (Continuing 2017 Indonesia
Bonds IV Phase V) (Persero) Tbk.
Adira Finance Continuing December No.S-458/D.04/2017 1.192.000 PT Bank Negara Quarterly
Bonds IV Phase VI Year 2019 2017 Indonesia
(Continuing Bonds IV Phase VI) (Persero) Tbk.
V Phase I Year 2020 (Continuing Indonesia
Bonds V Phase I) (Persero) Tbk.
V Phase II Year 2020 (Continuing Indonesia
Bonds V Phase II) (Persero) Tbk.
Sukuk Mudharabah II Phase III Indonesia
Year 2017 (Continuing Sukuk (Persero) Tbk.
Mudharabah II Phase III)
18
01 Main Highlights
Information About Bonds
31 December 2021
Effective Amount Interest
Debt Securities Notification Letter Number (in Million Trustee Payment
Date Rp) Schedule
Adira Finance Continuing Sukuk December No.S-458/D.04/2017 200,000 PT Bank Negara Quarterly
Mudharabah III Phase I Year 2017 2017 Indonesia
(Continuing Sukuk Mudharabah (Persero) Tbk.
III Phase I)
Sukuk Mudharabah III Phase II 2017 Indonesia
Mudharabah III Phase II)
Sukuk Mudharabah III Phase III 2017 Indonesia
Mudharabah III Phase III)
Sukuk Mudharabah III Phase IV 2017 Indonesia
Mudharabah III Phase IV)
Mudharabah Bonds IV Phase Indonesia
II Year 2020 (Continuing (Persero) Tbk.
Mudharabah Bonds IV Phase II)
19
CREDIT RATINGS
Pefindo Outlook Stable
March 2021
Corporate Rating idAAA
Fitch Rating Outlook Stable
December 2021
LT issuer Default rating BBB
ST issuer default rating F2
national long term AAA(IDN)
national short term F1+(IDN)
viability rating BB
support rating 2
Moody’s Outlook Stable
December 2021
Counterparty Risk Rating A3/P-2
Bank Deposits Baa1/P-2
Baseline Credit Assesment baa3
Adjusted Baseline Credit Assesment baa1
Counterparty Risk Assessment A3(cr)/P-2(cr)
20
01 Main Highlights
IMPORTANT EVENTS
in 2021
FebruarY JUNE
Gotong Royong
Indonesia 2021 Vaccination
Summit Engaging
Employees
JULY
MARCH
65th Danamon
Anniversary
Waqf “Festival
Launching Kolaborasi”
April
AUGUST
Danamon Employee
Expands Value
Sharia Proposition
Banking (EVP)
Services in Launching
Aceh
April AUGUST
Danamon
Danamon Extraordinary
Annual General
General Meeting of
Meeting of Shareholders
Shareholders
JUNE November
Danamon
Danamon, Adira presents
Finance and New Live
MUFG Organize Experience
Vaccine Center Vol. 2 - drive
in concert
21
#02
MANAGEMENT
REPORT
“
The collaboration between
Danamon, Adira Finance
and MUFG is also the key
to leverage the strengths of
each entity. As a group, we
share the same aspiration
to provide comprehensive
financial solutions across all
segments and business chains,
including the ecosystem of
the automotive industry and
property developer.
Takayoshi Futae
President Commissioner
02 Management Report
REPORT FROM THE BOARD OF
COMMISSIONERS
Dear esteemed Stakeholders and Shareholders,
While 2021 was still impacted by the ongoing COVID-19 of economic recovery in 2021 and Danamon’s asset
pandemic, Danamon continued to show its resilience, quality management initiatives.
innovation, and commitment to support customers
and other stakeholders. As Danamon entered its 65th Danamon also soundly managed its nonperforming
year of operation, it leveraged collaborations with loans (NPL). Gross NPL stood at 2.74% in 2021, which
MUFG, accelerated IT and digital initiatives, while at the showed improvement compared to 2.84% in the
same time managing asset quality well. previous year. Furthermore, the Bank reported a
strong capital adequacy level to support its business
This year, Indonesia experienced economic recovery expansion in the coming year with a consolidated CAR
aided by the low interest rate environment, the of 26.7% in 2021, compared to 25.0% in 2020.
government’s National Economic Recovery program,
and strong commodity prices, along with the mass OVERSIGHT OF STRATEGY IMPLEMENTATION
vaccination drives. The Board of Commissioners is The Board of Commissioners constantly coordinated
proud of Danamon’s positive contribution to Indonesia’s with the Board of Directors and all Danamon
economy, as well as to the well-being of its employees employees to respond to the challenges in 2021. Our
and the general public. Danamon and its subsidiaries close cooperation allowed the Bank to operate a
supported government vaccination programs by sustainable business and to be consistent with the
holding nationwide vaccination events for employees, strategies that have been approved.
their families, and the local communities. At the same
time, the Bank continued to work with customers who In 2021, Danamon disbursed loans in a prudent
are affected by the pandemic on relaxation of credit manner and in line with the strategy for each business
restructuring. segment. By focusing on blue chip customers and
MUFG collaboration, Enterprise Banking (EB) was able
By joining hands with different parties and thanks to to grow 6.2% YoY to Rp58.18 trillion. While overall loan
MUFG’s support, Danamon will continue to build on demand remained weak, growth in the SME segment
its strong and stable position in the national banking and auto financing can be seen in the last quarter of
industry by playing its part and actively supporting the 2021.
government’s National Economic Recovery initiatives.
Thanks to the support of our controlling shareholder,
ASSESSMENT OF THE BOARD OF DIRECTORS’ MUFG, Danamon has partnered with several Japanese
PERFORMANCE property developers to be the preferred mortgage
Throughout the pandemic, the Board of Directors has provider in their real estate projects. MUFG also
shown persistence in executing strategic initiatives invested in many digital players, including Grab, a ride-
and policies to sustain the Bank’s operational and hailing and super app operator in Southeast Asia. As
financial performances. Danamon achieved improved part of the strategic partnership, in November 2021,
results in 2021, bolstered by the Bank’s strong capital, Danamon and Grab Indonesia launched a credit card
prudent lending, stronger liquidity, and well-executed co-branding to appeal to millennial customers.
asset quality management.
In terms of funding, the Board of Directors utilized
Danamon booked net profit after tax (NPAT) of diversification to tap into granular funding through
Rp1.57 trillion, a growth of 56.1% year-on-year (YoY) an institutional approach, customized solutions in
from Rp1.01 trillion in 2020. The Bank’s provision for transaction banking, and digital innovation. In May
impairment of credit losses was Rp5.7 trillion in 2021. 2021, the Bank launched a new mobile banking app,
This was lower by 12.6% than Rp6.54 trillion in 2020 D-Bank PRO, with various added features and multi-
due to an improvement in the risk profile of the channel services. Our sharia business unit, Danamon
Bank’s credit portfolio in line with the momentum Syariah, also launched a digital Waqf service in 2021
25
to enhance the convenience of customers’ charitable Indonesia whilst contributing to the nation’s economic
contributions. The Bank is also continuously enhancing recovery.
Danamon Cash Connect, the Bank’s cash management
platform for business customers. As a result, the current CORPORATE GOVERNANCE IMPLEMENTATION
account and savings account (CASA) balance grew 10.5% Good corporate governance (GCG) is vital to Danamon’s
YoY to reach Rp72.93 trillion. This represents a 59.1% continuity and its robust financial and operational
CASA ratio, a 680bps improvement from the previous performance. Danamon consistently applies
year’s level. transparency, accountability, responsibility, fairness
and equality, and independence to its GCG practices to
In the midst of the pandemic, we are prioritizing create added value for all stakeholders.
employees’ safety and health. Danamon has applied
strict COVID-19 protocols and invested in facilities and Danamon’s GCG implementation consists of the three
infrastructure to support the Work from Home policy, aspects of Governance Structure, Governance Process,
organized vaccination programs for our employees and and Governance Outcome. The Bank also maintains an
their dependents, and supported those who contracted Integrated Governance Policy for the Bank and for the
the virus. Financial Conglomerate.
BUSINESS OUTLOOK The Board of Commissioners acknowledges the Bank’s

Danamon is confident that, with the strategy that has sound GCG practices in line with corporate governance
been set, the culture of collaboration and innovation principles and best practices. We appreciate Danamon’s
instilled by management, and the support from MUFG consistent results of a “Good” score on its GCG self-
as controlling shareholder, we will deliver strong and assessment exercise conducted every six months in
sustainable business growth. Backed by a strong capital 2021. We also appreciate the Bank’s actions of refining
position, Danamon is recognized as one of Indonesia’s top and updating key policies, such as risk management and
ten banks. Pursuant to the most recent OJK regulation, integrated governance, as well as other policies relating
POJK No. 12/POJK.03/2021 concerning conventional to GCG.
commercial banks, Danamon is in the category of Bank
Group III by Tier 1 capital, with core equity amounting to Our criteria for assessment are based on the committees’
Rp31.0 trillion as of 31 December 2021, well in excess of individual reports, which they submit regularly. We also
the category’s minimum of Rp14.0 trillion in equity. assessed the quality of their work based on, among other
things, the number and subject of meetings, decisions
The quality of Danamon’s management is reflected by made during meetings and the follow up actions which
external assessments, especially those conducted by were properly implemented.
independent national and international ratings agencies.
Moody’s recently upgraded Danamon’s rating to Baa1/ Committed to GCG implementation, Danamon engages
stable for the Adjusted Baseline Credit Assessment all its employees in instilling a risk-awareness culture.
and Baa1/P2 for the Bank deposits rating. Fitch Ratings The Bank also encourages all employees to create and
assigned BBB/stable as the LT issuer default rating, maintain a positive work environment that allows no
and AAA(idn)/stable as the national long term rating. room for fraudulent practices. Danamon has developed a
Meanwhile, Indonesia’s ratings company, Pefindo, whistleblowing system (WBS) as part of its commitment
conferred the highest corporate rating to Danamon of to apply the best corporate governance and business
idAAA/stable. practices with integrity.
Going forward, with the continued collaboration of and The WBS allows every employee to report an incident
strong support from MUFG, Danamon will be able to of fraud or suspicion thereof openly, in a responsible
provide more services to more customers to meet their manner driven by good faith and without fear of
financial needs, connect Danamon as a local bank with retribution. Employees’ reports are strictly confidential,
an extensive international network backed by MUFG’s and their identities protected. Danamon has also
global capabilities, and attract foreign investments to appointed an independent third party to manage its
26
“
WBS, including following up on and administering Lapian

reports. The third party will then forward the reports to • Commissioner: Takanori Sazaki
Danamon’s WBS team; the team evaluates a report’s • Commissioner: Dan Harsono
merit and decides whether to open an investigation • Independent Commissioner: Halim Alamsyah
or to send the report to the relevant authorities. The
Board of Commissioners believes that this practice will APPRECIATION
uphold Danamon’s integrity, remind all employees to The Board of Commissioners is confident that Danamon
practice a compliance culture and increase the trust of will continue to elevate its performance by continuing to
all stakeholders in the Bank. innovate and collaborate as well as through consistent
GCG implementation. We wish to remind management
CHANGES IN THE COMPOSITION OF THE BOARD OF and all employees to consistently maintain a customer-
COMMISSIONERS centric mindset and deliver the best services to all
The composition of Danamon’s Board of Commissioners customers.
changed following the appointment of Mr. Dan Harsono
and Mr. Takanori Sazaki as Commissioners, pursuant to a On behalf of the Board of Commissioners, we would like
resolution at the annual General Meeting of Shareholders to thank the Board of Directors, the management and
(GMS) on 30 April 2021. At the same annual GMS, everyone at Danamon for being incredibly persistent in
Danamon accepted the resignations of Mr. Masamichi the face of the challenges in 2021. We also extend our
Yasuda, Mr. Noriaki Goto, and Mr. Made Sukada from highest gratitude to all customers for their continuous
their positions as Commissioners. We thank them for patronage. We look forward to continue building
their constant guidance and support during their tenure stronger relationships with them. Finally, we thank the
as members of Danamon’s Board of Commissioners. Indonesian government and the Indonesian Financial
Services Authority (OJK) for their constant support for
Pursuant to a resolution passed at the extraordinary the banking industry including Danamon in particular.
GMS on 26 August 2021, Danamon appointed Mr. Halim
Alamsyah as a Commissioner. The composition of Without the support of these stakeholders, Danamon
Danamon’s Board of Commissioners as of the writing of would not have been able to reach its 65th anniversary
this annual report is as follows: milestone. We believe by working closely with all
stakeholders, Danamon has significant potential to grow
• President Commissioner: Takayoshi Futae and thrive in Indonesia’s banking industry in the future.
• Vice President Commissioner (Independent):
J.B. Kristiadi Pudjosukanto
• Independent Commissioner: Peter Benyamin Stok
• Commissioner: Nobuya Kawasaki
• Independent Commissioner: Hedy Maria Helena
Jakarta, 25th February 2022

On behalf of the Board of Commissioners
Takayoshi Futae
27
Board of
COMMISSIONERS
Halim J.B. Kristiadi Dan Harsono Peter Benyamin Stok

Pudjosukanto Commissioner Independent Commissioner
Alamsyah
Independent Vice President Commissioner
Commissioner (Independent)
Takayoshi Futae Takanori Hedy Maria Nobuya
President Sazaki Helena Lapian Kawasaki
Commissioner Commissioner Independent Commissioner Commissioner
“
As part of MUFG, the largest
bank in Japan and one of
the world’s leading financial
institutions, we are able to
leverage MUFG’s strength,
expertise and network in
serving our customers.
Danamon is committed to
developing a customer-centric
organization to prioritize the
interests of customers and
all stakeholders. This is in
line with Danamon’s brand
promise to provide financial
solutions so that customers
can take control of their
financial needs and goals
Yasushi Itagaki
President Director
REPORT FROM THE BOARD OF
DIRECTORs
Dear valued shareholders and stakeholders,
We celebrated Danamon’s 65th anniversary in 2021. However, household consumption only grew by 1.03%
This was a special year for us as another milestone was YoY. This low growth in household consumption
achieved. Danamon was able to maintain its position resulted in low inflation of 1.87%, which was below the
as one of the leading banks in Indonesia. We built a inflation target of 3±1% set by BI for 2021. As a response,
solid foundation and focused on collaboration and the government executed various strategic steps
innovation to address challenges, took advantage of to boost economic activities, including reducing the
the available opportunities, and provided unique value 7-day reverse repo rate to 3.5% in February, the lowest
propositions to customers amid the uncertainty of benchmark interest rate in history. The government
economic recovery caused by the COVID-19 pandemic. also allowed zero down payment for mortgages and
auto loans to encourage consumption. Furthermore,
ECONOMIC AND INDUSTRY OVERVIEW there was also a temporary luxury tax break on certain
The COVID-19 pandemic that began in early 2020 vehicles and VAT deductions for certain real estate
hindered the recovery of the global economy. It is an properties.
extraordinary event that became a game-changer and
reversed the direction of the global situation, starting The ongoing COVID-19 pandemic affects Indonesia’s
as a health crisis and eventually impacting many banking industry. Bank loan growth remained low
socio-economic conditions. Efforts to improve the at 4.73%, in line with weakening demand for loans
handling of the pandemic in Indonesia in 2021 faced and disruptions in domestic economic activity. The
new challenges from the rapid spread of the Delta Financial Services Authority (OJK) decided to extend
variant since May 2021, which has prompted a new the relaxation of COVID-19 credit restructuring to 31
wave of COVID-19 cases in Indonesia. March 2023 to reduce the impact of the COVID-19
pandemic.
In response to this situation, the government again
imposed restrictions on social activities through the STRATEGIES AND STRATEGIC POLICIES IN 2021
implementation of Micro-Scale Community Activity The Board of Directors plays a central role in formulating
Restrictions (PPKM), Emergency PPKM and PPKM Danamon’s strategies and strategic policies as part of
Levels 1-4 to curb the spread of COVID-19 cases. During the duties and responsibilities stipulated for us in the
the social restrictions period, only critical sectors Board Charter. The Board of Directors outlined those
were allowed to fully operate. Essential sectors such strategies and policies in the Bank’s 2021 Business
as banks were allowed to operate at 50% capacity. Plan (RBB).
Meanwhile, non-essential sectors, such as automotive
dealers, the main referral source for auto loans, were In addition to being fully responsible for setting the
not allowed to operate. short-term and long-term strategic directions and
priorities of Danamon, the Board of Directors also
This policy resulted in a slowdown of economic implements the principles of corporate governance
growth in the third quarter of 2021 to 3.51% YoY from in every business activity of the Bank at all levels of
7.07% YoY in the previous quarter, the latter of which the organization to ensure that the implementation
was a significant increase from the negative 0.71% YoY of strategies is on the right track and in accordance
recorded in the first quarter of 2021. Higher economic with the Bank’s vision and mission. To evaluate the
growth in 2021 was mainly the result of a trade surplus implementation of the strategies and strategic policies,
amid rising global commodity prices caused by supply the Board of Directors also follows up on audit findings
chain constraints and growing investments. Palm oil and recommendations from the Bank’s internal audit,
prices rose 24.98% YoY to USD1,270.29/mt, while coal inputs from external auditors and results of supervision
prices rose 104.32% to USD169.65/mt by the end of conducted by the Financial Services Authority (OJK),
2021. Bank Indonesia, and/or other authorities.
31
Amid the ongoing COVID-19 pandemic, Danamon Collaboration with partners is a key strategy to create
continued to implement a prudent lending strategy, differentiation and relevant value propositions in
as well as diversified funding through an institutional Consumer Banking. Danamon worked closely with
approach, and fee-based income based on a unique Japanese developers to become one of the mortgage
value proposition supported by collaboration with providers of choice in their real estate development
MUFG. To support the implementation of the strategies, projects, thanks to the support of our controlling
we continuously innovated through digitalizing our shareholder, MUFG. Danamon also added more
banking services and transactions. partnerships with asset management companies to
provide more comprehensive wealth management
We launched D-Bank PRO, a new mobile banking products. Furthermore, we collaborated with Grab,
application with more features and omnichannel a leading super app in South East Asia with minority
experiences in May 2021. For the sharia banking services, ownership by MUFG, to launch a co-branding credit card
the Danamon Syariah Business Unit (UUS) introduced targeting the Indonesian millennial segment.
digital Waqf in 2021 to increase customer convenience
for making donations. We also continued to improve TARGET AND REALIZATION
Danamon Cash Connect and provide customized cash Amid the on-going pandemic in 2021, Danamon
management solutions for business customers. These maintained its solid performance despite pressures
innovations proved to increase the proportion of CASA on people’s purchasing power and consumption. We
from 52.3% in 2020 to 59.1% in 2021. continued to prioritize prudent and selective lending to
each banking customer segment. Danamon recorded
Our subsidiary, Adira Finance (ADMF), also accelerated consolidated loans (including Trade Finance Marketable
its digital initiatives. ADMF optimized the Adiraku digital Securities) of Rp130.5 trillion in 2021, down 3.9% from the
application to create more interactions with customers level in 2020. Despite the total loan decline, we remain
and prospective customers. The unique features offered optimistic as we saw a 6.2% YoY increase in loans in the
include reward points and point redemption, integration Enterprise Banking helped by collaboration with MUFG.
with marketplaces for new and used cars, integration New loan disbursement in Adira Finance also recorded
with electronic and furniture marketplaces, and credit a growth of 47.1%. Moreover, SME lending disbursement
limit approval for eligible customers. has shown a positive trend, particularly after PPKM level
4 ended in August.
Enterprise Banking (EB) continued its growth by focusing
on MUFG collaborations as well as focus on blue chip In line with the decline in loans, total assets decreased
corporate customers. As an added value proposition, by 4% to Rp192.2 trillion in 2021. The realization of loans
Danamon and MUFG held the Indonesia Summit at the in 2021 was lower than the target by 3.7%. On the other
beginning of the year, a prestigious economic outlook hand, total asset was higher than target by 5.1%.
event attended by customers from the two financial
institutions. Through a Business Matching event, we were Danamon carried out strict risk monitoring and
able to connect Indonesian customers with customers prudently managed productive assets to maintain asset
of MUFG and its partner banks in Asia. quality amid the ongoing pandemic in 2021. Danamon’s
consolidated gross NPL ratio in 2021 improved 10bps
To improve services to Small and Medium Enterprise YoY to 2.74% from last year’s 2.84%. Moreover, Danamon
(SME) customers, the Bank provided services that were also recorded a high NPL coverage ratio of 225.6%.
more focused and tailored to customer needs. Services Danamon also offered credit restructuring programs to
for lower ticket size SME loans were provided by our customers affected by COVID-19. Restructured loans
teams at branch offices with a simpler process. On the under forbearance reached Rp5.07 trillion in 2021, down
other hand, services for SMEs requiring bigger and more from the previous year’s Rp13.47 trillion.
complex loans were provided by our SME specialist In terms of funding, in line with our strategy to focus on
teams. We also continuously reviewed and refined the granular funding, Danamon was able to record Rp72.9
end-to-end loan process to improve turnaround time. trillion in CASA or grew by 10.5% from Rp66.0trillion in
2020. As a result, the proportion of low-cost funding
32
“
(CASA) rose to 59.1% compared to the previous year’s BUSINESS PROSPECTS

52.3%. The strategies to grow CASA while reducing Several factors support our optimism over Danamon’s
expensive Time Deposit helped to reduce the cost of business prospects in 2022 including the macroeconomic
funds. Meanwhile, the Macroprudential Intermediation conditions, various measures to deal with the pandemic,
Ratio (RIM) was recorded at 86.0%, indicating ample developments in the banking industry, and the Bank’s
liquidity. internal conditions.
In terms of Capital, the Consolidated CAR ratio reached Various measures to deal with the COVID-19 pandemic,
26.7%, well above the regulatory requirement and one of especially the success of 2021’s vaccination programs,
the highest in the banking industry. the upcoming booster vaccination programs and
appropriate level of social restrictions increased the
The consolidated net profit was recorded at Rp1.57 Government’s ability to control the current pandemic
trillion, a 56.1% growth compared to the previous year. situation.
ROA and ROE were at 0.8% and 4.1%, respectively, in
2021. In line with the estimated improvements in economic
growth, Bank Indonesia projected Indonesia’s Gross
Danamon received several awards at the national level Domestic Product (GDP) to grow by 4.7-5.5% in 2022.
during 2021. Amid the COVID-19 pandemic situation, we The driving factors are the country’s strong export
are grateful to have been named the first winner of the performance caused by the ongoing global economic
2021 Infobank Satisfaction, Loyalty, Engagement Awards recovery and the rising domestic demand from
in the BUKU 4 Bank Category and the 2021 winner of increased consumption and investment, the opening of
Indonesia’s Most Popular Digital Financial Brands economic sectors and stimulus policies.
(Millennial’s Choice) in the BUKU 4 Bank Category -
E-Loan by Iconomics. Bank Indonesia also predicted that financial system
stability will remain well-maintained with higher loan
HUMAN CAPITAL growth in 2022. Banking industry growth in loans and
Danamon prioritized employee safety through the third-party funds are expected to reach 6.0-8.0% and 7.0-
implementation of strict COVID-19 protocols and 9.0%, respectively Loan growth will be supported by the
investments in facilities and infrastructure to support high CAR of the banking industry, stable non-performing
the Work From Home alternative. The Bank organized loans (NPL) ratio, as well as the OJK regulation on credit
COVID-19 vaccination programs involving more than restructuring that will still be in effect.
98.0% of employees and their families and also provided
support and assistance to those infected with the virus. An acceleration of national payment system digitalization
to expedite the digital economy such as QRIS (Quick
In terms of human resource development, Danamon Response Code Indonesian Standard), the National
continued to invest in future leaders through the Open API Payment Standard (SNAP - Standar Nasional
Danamon Bankers Trainee program, even during the Open API Pembayaran) and BI-FAST implementation will
pandemic. For existing talents, Danamon supports influence greatly towards digital banking acceleration.
learning culture by setting up digital learning platforms Moreover, growing public preference for online shopping,
including e-libraries and also establishing a talent expansion of the e-commerce ecosystem, development
council to conduct reviews, prioritizing internal mobility, of digital payment services and improving domestic
and also increasing collaboration with MUFG and MUFG economic conditions will also strengthen digital trend in
partner banks in terms of training programs. In 2021, we banking industry. The value of e-commerce transactions
have introduced Danamon’s Employee Value Proposition is predicted by Bank Indonesia to reach Rp530 trillion,
to realize our mission as the employer of choice with electronic money to reach Rp 337 trillion, and digital
the “Let’s GROW” program (Global Exposure, Rise to banking transactions expand to more than Rp48
Excellence, Own Your Future, Wellness & Well-Being). thousand trillion in 2022.
33
In addition to Digitalization, Danamon also foresee Danamon collaborates with third parties for managing
sustainability matters as an integral part of the business. the WBS to create a more independent, transparent,
Addressing environmental issues is a responsibility of convenient, confidential, protected, and monitored WBS
all human beings and Danamon continuously strived reporting system for people submitting such reports.
to prioritize harmony among economic, social and Danamon provides personal protection and legal
environmental aspects. As one of our Sustainable protection for whistleblowers in accordance with the
Finance priorities, Danamon commits to support in prevailing laws and regulations.
providing financing for sustainable business activities.
SOCIAL RESPONSIBILITY
As banks are playing increasingly important roles in Danamon realizes that along with the Bank’s good
these two movements, Digitalization and Sustainability, operational and financial performances, business
Danamon will continue proactively promoting the success is also determined by the involvement of the
transitions and enhancements by leveraging MUFG’s community around the Bank, the members of which
various initiatives and know-how to capture these continuously take part in the Bank’s business and social
emerging and major business opportunities. interaction processes. Therefore, the implementation of
Social Responsibility programs and assistance is not only
CORPORATE GOVERNANCE intended to fulfil the Bank’s sustainable finance mission,
Danamon is highly committed to implementing Good but also to build harmonious and mutually beneficial
Corporate Governance (GCG). We continuously improve relationships with the environment, community, and
our GCG each year to become a bank with the best stakeholders.
corporate governance implementation so that every
program and plan can be realized in accordance with The implementation of the SR program is also in
the Bank’s vision and mission. In 2021, we refined and line with OJK Regulation No. 51/POJK.03/2017 on the
updated several policies related to Risk Management Implementation of Sustainable Finance. At Danamon,
and Integrated Corporate Governance, as well as the Sustainability Finance Division is in charge of
policies supporting the implementation of corporate coordinating the implementation. This division carries
governance. out various initiatives to ensure the success of the
Social Responsibility process, the Bank’s business
Danamon regularly conducts a self-assessment on the continuity, and the implementation of a healthy, safe,
implementation of corporate governance every half year. and responsible work environment.
Based on the self-assessment result, Danamon achieved
a “Good” predicate, which means the implementation of In 2021, Danamon updated its Sustainability policy
corporate governance at the Bank is good in general, as and governance to align with current strategy. We also
reflected in the adequate compliance to the corporate increased awareness and knowledge of employees on
governance principles. Moreover, we received the 3rd sustainability through e-learning materials. In addition,
Best Public Company in BUKU IV Category award from we have completed the green building certification
Indonesia GCG Award VI in 2021 for our commitment to process by Green Building Council Indonesia for our
and hard work implementing GCG. Menara Bank Danamon head office. These efforts
serve as an initial testament to the bigger aspiration
One of Danamon’s commitments to support the of Danamon, in collaboration with MUFG, to continue
implementation of good corporate governance and reducing our carbon emission in our own operations and
ethical business practices is realized through the reaching carbon neutral by the end of current decade.
Whistleblowing System (WBS). Through the WBS, anyone
can confidentially report allegations related to fraud, Throughout the year, Danamon contributed a total of
policy violations, bribery, illegal activities, and other Rp7.2 billion to the SR program, which was distributed
violations of the code of conduct involving Danamon to various activities such as life insurance for COVID-19
employees and/or parties related to Danamon. volunteers, emergency hospitals, water and sanitation,
34
“
financial literacy, disaster responses as well as healthy Directors is as follows:

banking support for traditional market and education • President Director: Yasushi Itagaki
institution. • Vice President Director: Honggo Widjojo Kangmasto
• Director: Herry Hykmanto
To support the government’s vaccination efforts, the • Director: Rita Mirasari
Bank also organized vaccination programs for local • Director: Heriyanto Agung Putra
communities. In total, Danamon has vaccinated more • Director: Dadi Budiana
than 20,000 people in all of its operational areas. The • Director: Muljono Tjandra
vaccination programs were carried out in collaboration • Director: Naoki Mizoguchi
with various relevant agencies, utilizing two available
vaccination routes, namely the Government Vaccination APPRECIATION
Program (VPP) and the Gotong Royong Vaccination (VGR) On behalf of the Board of Directors, we express
program. our gratitude and high appreciation to the Board
of Commissioners for their advice, guidance, and
We are committed to carrying out SR programs that are in recommendations during the year. We also thank our
accordance with the applicable policies and regulations, customers, colleagues, and business partners for
thereby providing added value to shareholders and all their support, trust, and cooperation. Our appreciation
stakeholders. also goes out to all Danamon employees for their
dedication and hard work in carrying out their duties
CHANGES IN THE COMPOSITION OF THE BOARD OF andresponsibilities to realize the Bank’s vision and
DIRECTORS mission. Last but not least, we want to thank the
In 2021, there were some changes in the composition of Indonesian Government and particularly OJK for their
Danamon’s Board of Directors following the resignation tireless leadership, guidance and support. We hope to
of Mr. Adnan Qayum Khan as Director, effective 24 July continue to work closely with all stakeholders in the
2021, and Mrs. Michellina Laksmi Triwardhany as Vice future to achieve sustainable positive performance
President Director, effective 4 September 2021. The BOD growth.
would like to thank both Mr. Adnan Qayum Khan and
Ms. Michellina Laksmi Triwardhany for their dedications
and contributions to the Bank during their terms in
office. The latest composition of Danamon’s Board of

On behalf of the Board of Directors
Yasushi Itagaki
President Director
35
Board of
Board Of
DIRECTORS
Heriyanto Agung Herry Rita Mirasari Yasushi Itagaki

Putra Hykmanto Director President Director
Director Director
36
Board Of
Honggo Widjojo Dadi Budiana Muljono Naoki

Kangmasto Director Tjandra Mizoguchi
Vice President Director Director Director
37
REPORT OF THE SHARIA

SUPERVISORY BOARD
Assalamu’alaikum Warahmatullahi Wabarakaatuh

Bismillaahirrahmaanirrahiim
Praise be to Allah the Most Glorious and Most Exalted for all His pleasures, conveniences, and gifts to us all, so
that He enables us to carry out the duties and mandates entrusted to us. Our prayers and greetings to the Prophet
Muhammad, may peace be upon him.
The Sharia Supervisory Board of UUS Danamon is the body mandated to supervise and ensure product and business
conformity are carried out in accordance with sharia principles. In Accordance with the regulatory mandate and
the applicable Sharia Supervisory Board Charter, The Sharia Supervisory Board of UUS Danamon has carried out
its functions and duties, conducted supervision, and provided opinions on new product proposals, policies and
procedures, and other matters related to the fulfilment of sharia principles as a whole in UUS Danamon.
We believe the Sharia banking activities carried out by Danamon in 2021 are in accordance with the fatwa of the
National Sharia Council of the Indonesian Ulema Council (DSN-MUI) and the opinions we have issued as the Sharia
Supervisory Board.
Finally, the Sharia Supervisory Board expects the Management of UUS Danamon to always keep their spirits up in
pursuing the established targets to achieve success in the coming years. In closing, let us always pray to Allah SWT
that He may grant us health, prosperity, and benevolence in all that we aspire and hope to achieve. Aamiin yaa rabbal
‘alamin.
Wassalaamu’alaikum Warahmatullahi Wabarakaatuh

On behalf of the Sharia Supervisory Board
Prof. Dr. H. M. Din Syamsuddin

Chairman of Sharia Supervisory Board
38
SHARIA Sharia
SUPERVISORY BOARD
DR. K.H. HASANUDIN Prof. Dr. H. M. Din Dr. Asep

M.AG. Syamsuddin Supyadillah, M.Ag.
Member of Sharia Chairman of Sharia Member of Sharia
Supervisory Board Supervisory Board Supervisory Board
39
Declaration of
Declaration Of
Responsibility
for Annual Report
The following is a joint declaration by the Board of Commissioners and the Board of Directors on responsibility
for the 2021 Annual Report of PT Bank Danamon Indonesia Tbk.
We, the undersigned, testify that all information contained in the 2021 Annual Report of PT Bank Danamon
Indonesia Tbk. has been presented in its entirety, and assume full responsibility for the accuracy of the contents
of the Company’s Annual Report.
This statement is hereby made in all truthfulness.
Board of Commissioners
Takayoshi Futae
J.B. Kristiadi Peter Benyamin Stok Nobuya Kawasaki

Pudjosukanto Independent Commissioner Commissioner
Vice President Commissioner
(Independent)
Hedy Maria Takanori Sazaki Dan Harsono Halim Alamsyah

Helena Lapian Commissioner Commissioner Independent Commissioner
Independent Commissioner
40
Declaration Of
Board of Directors
Yasushi Itagaki
President Director
Honggo Widjojo Herry Hykmanto Rita Mirasari

Kangmasto Director Director
Vice President Director
Heriyanto Dadi Budiana Muljono Tjandra Naoki Mizoguchi

Agung Putra Director Director Direktur
Director
41
Sharia
Supervisory Board
Chairman : Prof. Dr. H.M. Din Syamsuddin

Member : Dr. K.H. Hasanudin, M.Ag.
Member : Dr. Asep Supyadillah, M.Ag.
Declaration:
The members of Danamon’s Sharia Supervisory Board have declared they have no financial, management,
share ownership and/or family relationships with members of the Board of Directors, Board of Commissioners
and/or controlling shareholders, or other relationships with Danamon that may affect their ability to discharge
their duty as stated in their letter of appointment signed on April 23, 2021 and renewed every year.
Prof. Dr. H. M. Din Syamsuddin

Chairman
Dr. K.H. Hasanudin, M.Ag. Dr. Asep Supyadillah, M.Ag.

Member Member
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#03
COMPANY
PROFILE
CORPORATE IDENTITY
Company
Name PT Bank Danamon Indonesia Tbk.
CORE BUSINESS Banking Services Business Identification Tax Identification

Number Number
Date of
Establishment 16 July 1956 9120205531975 01.308.470.2-091.000
Legal Basis of Establishment Custodian Trustee Permit

Bank Permit
Notarial deed No. 134 dated on July 16, 1956 of Meester
Raden Soedja, S.H. ratified by the Minister of Justice Bapepam & LK Letter Bapepam & LK Letter
of Republic of Indonesia in its decision letter No. No. Kep-02/PM/ N o. S -1 6 0 0 / P M/ 2 0 0 0
J.A.5/40/8 dated 24 April 1957 and was published in Kstd/2002 dated 15 dated 30 June 2000.
Supplement No. 664 to the State Gazette of Republic October 2002.
of Indonesia No. 46 dated on June 7, 1957.
Latest Articles of Association: Global Intermediary

Identification Number (GIIN)
Deed No. 40 dated December 10, 2020, drawn up
before Mala Mukti, S.H., Lex Legibus Magister, Notary
WZU780.99999.SL.360
in Jakarta, which has been received and recorded
in the Legal Entity Administration System Database www.danamon.co.id
of the Ministry of Law and Human Rights of the
Republic of Indonesia No. AHU-AH.01.03-0420961 [email protected]
dated 18 December 2020. [email protected]
[email protected]
Stock Exchange Share Code ISINCode SWIFT Code
Indonesia Stock Exchange BDMN ID1000094204 BDINIDJA
Business Permit Foreign Exchange Sharia Banking Tax Payment Bank

Bank Permit Permit Permit
Letter from the Ministry of Letter from Bank Indonesia Letter from the Directorate Letter from the Directorate
Finance of the Republic of No. 21/10/ Dir/UPPS dated of Banking Licensing and General of Taxation,
Indonesia No. 161259/U.M.II 5 November 1988. Information, Bank Indonesia, Ministry of Finance of the
dated 30 September 1958. No. 3/744/DPIP/Prz dated 31 Republic of Indonesia, No.
December 2001. S-480/ PJ.9/1989 dated 7
September 1989.
46
03 COMPANY PROFILE
Corporate Identity
ASSOCATION MEMBERSHIPS
• National Private Bank Association (Perbanas)
• Indonesia Public Listed Companies Association (AEI)
• Indonesia Payment System Association (ASPI)
• Bankers Association for Risk Management (BARa)
Head Office SUBSIDIARY

PT Bank Danamon Indonesia Tbk. PT Adira Dinamika Multi Finance, Tbk.
(Adira Finance)
Menara Danamon
Jl. HR. Rasuna Said, Blok C No. 10 Core Business: Financing
Kel. Karet, Kec. Setiabudi | Jakarta 12920 Head Office: Milenium Centennial Center
Indonesia 53, 56-61 Floors
Phone : +62218064 5000 Jl. Jendral Sudirman Kav. 25, Jakarta
Phone : (+62 21) 3973 3232, 3973 3322
Information Access
CORPORATE INFORMATION INVESTOR INFORMATION PRESS INQUIRIES

Corporate Secretary Investor Relations Corporate Communications
Menara Bank Danamon

Jl. H.R. Rasuna Said Blok C No. 10 Karet Setiabudi, Jakarta-Indonesia 12920
Phone: +622180645000 | Fax: +622180645030
17th Floor 16th Floor 11th Floor
[email protected] [email protected] [email protected]
47
DANAMON
AT A GLANCE
PT Bank Danamon Indonesia Tbk (“Danamon”) was established

in 1956 and has since grown and developed to become one of
Indonesia’s largest financial institutions, guided by its vision, which
is “To Care and Enable Millions to Prosper.”
Danamon serves all segments of banking customers in the

Consumer segment, SME segment and Enterprise (Commercial and
Corporate) Banking segments. Danamon provides a comprehensive
range of banking and financial products and services including
Sharia banking services. In addition, Danamon provides financing
for automotive and consumer goods through Adira Finance.
As part of MUFG Bank, the largest bank in Japan and a leading

financial institution in the world, we will be able to leverage on
MUFG’s strengths, expertise and network to serve our customers
and to enable Danamon to grow and deliver long term value to all
stakeholders.
Danamon operates an extensive distribution network spread out

from Aceh to Papua, with more than 864 branches and service
outlets comprising conventional branches, Sharia units and
the branch networks of Adira Finance. With a Branch Network
structure, Danamon provides integrated product offerings that
greatly enhance service quality to customers.
Danamon’s distribution network is supported by an e-channel

platform comprising of 1,471 proprietary ATMs and CDMs (Cash
Deposit Machines), with access to ATMs in the ATM Bersama,
ALTO and Prima networks. Danamon also deploys comprehensive
digital services including SMS Banking, internet banking and mobile
banking for both individual customers and enterprises, constantly
upgrading features and capabilities to meet the demand of the
banking public in the digital era for faster and easier transactions.
48
03 COMPANY PROFILE
Danamon At A Glance
Danamon posts total assets of Rp192.24 trillion as

of 31 December 2021. Its shares are owned by The
MUFG Bank, Ltd. (92.47%) and the public (7.53%).
49
CORE BUSINESS
Purposes and Objectives as well as Business Activities Article 3
1. The purposes and objectives of the Company are to do business activities as a Commercial
Bank.
2. Main Business Activities

To achieve the purposes and objectives mentioned above, the Company may carry out the following
main business activities:
a. raising funds from the general public in the form of savings/deposits i.e. demand deposits
account, time deposits, deposit certificates, savings and/or other forms which are similar
to or comparable to them, either in the Rupiah currency or foreign currencies;
b. extending loan, either long-term, middle-term, or long-term or other forms of loan which
are usually extended in the banking world;
c. issuing promissory notes;
d. purchasing, selling, or guaranteeing at its own risk or in the interest and by the order of
the customers:
(i) drafts including the drafts accepted by bank and the validity period of which is not
longer than the normal period of issuance in the trade of the said instruments;
(ii) promissory notes and other commercial papers, the validity period of which is not
longer than the normal period of issuance in the trade of the said instruments;
(iii) state treasury instrument and Government bond;
(iv) certificate of Bank Indonesia (SBI);
(v) bond;
(vi) promissory notes with a validity period of up to 1 (one) year;
(vii) other securities with a validity period of up to 1 (one) year;
e. transferring funds, both on its own interest or in the interest of the customers;
f. placing funds in, borrowing funds from, or lending funds to, another bank, both in writing,
with telecommunications facility and sight draft, cheque or other facilities;
g. receiving the payment of securities bill and making calculation with or among the third
parties;
h. providing a place to store goods and securities;
i. carrying out safekeeping activities in the interest of another party under a contract;
j. placing funds from one customer to another customer in the form of securities which is
not listed on the Stock Exchange;
k. carrying out factoring activities, credit card business and acting as a trustee;
l. carrying out activities in the field of foreign currency in accordance with the provisions
stipulated by Bank Indonesia and Financial Services Authority;
m. providing funding and/or carrying out other activities under the Sharia principles, in
accordance with the provisions as stipulated by the Bank Indonesia and Financial Services
Authority.
n. carrying out activities as a marketing agent for non banking productssuch as insurance,
mutual funds, state bonds and other activities in accordance with the provisions thereof;
50
03 COMPANY PROFILE
Core Business
3. Supporting Business Activities

To support the main business activities of the Company, the Company may carry out the following
supporting business activities:
a. purchasing collateral, either whole or a part, through or outside the tender in the case
the debtor does not meet its obligations to the bank, with the provisions that the said
collateral must be marketable within short period;
b. acting as the founder and as the executive board of pension funds in accordance with the
provisions of laws and regulations on pension fund;
c. issuing various forms of letter of credit and bank guarantee;
d. carrying out capital participation activity in bank or other companies in the field of finance,
such as leasing, venture capital, credit card business, consumer financing, Securities
company, insurance, settlement and depository clearing house, in accordance with the
provisions as stipulated by Bank Indonesia and Financial Services Authority;
e. carrying out temporary capital participation activity to overcome the consequence of
credit failure, including the financial failure under the Sharia principles, provided that such
participation must be withdrawn in accordance with the provisions as stipulated by the
Bank Indonesia and Financial Services Authority;
f. carrying out other supporting business activities to support the main business activities
which is usually carried out by Banks as long as they do not conflict with the prevailing
laws and regulations.
51
MILESTONES
1956
-
2005
1956 2000
Established as Bank Merged with eight banks that
Kopra Indonesia were also taken over by the 2013
Government
1976
Name changed to PT 2003 • Collaboration with Wells
Bank Danamon Indonesia Asia Financial (Indonesia) Fargo and Overseas
Pte. Ltd. acquires the Private Investment
1988 Government’s majority Corporation (OPIC) and
Becomes the first shares in the bank International Finance
foreign exchange bank in Corporation (IFC) to
2004 finance Indonesia’s
Indonesia
• Launching of Danamon MSME sector
1989 Savings and Loans • Monthly transactions
Becomes a publicly • Acquisition of Adira through Danamon Online
listed company with Finance Banking reach 2.6 million
shares offered on the • Construction of new
Jakarta Stock Exchange 2005 Danamon’s head office,
• Branch network
1998 expansion for Danamon “Menara Danamon”
Taken over by the Savings and Loans • Issuance of
Government due to the • Launching of new sustainability report
Asian financial crisis Company Vision, Mission certified by the Global
and Values Reporting Initiative (GRI)
2006 2009
• Acquisition of American • Rights issue of Rp4 trillion
Express Card Business • Increase of share ownership in Adira to
in Indonesia 95%
• Celebration of
Danamon’s 50th 2010
Anniversary Danamon and Adira Finance issue a fixed-
interest bond to diversify funding sources
2007
Launch of DirhamCard, the
first Sharia-compliant credit 2011
card in Indonesia • Rights issue of Rp5 trillion
• Celebration of Danamon’s 55th anniversary
2008
• Inauguration of Danamon
Corporate University 2012
• Expansion of the branch • Expansion of Solusi Emas Syariah
office network branches
2006 • Launch of Manchester United debit and
- ATM cards
2012
52
03 COMPANY PROFILE
Milestones
2014 2018
• Launch of D-Mobile Danamon • MUFG Bank Ltd.
mobile banking application takes a 40% stake in
• Launch of Danamon Sharia’s Danamon
2016• Celebration of Danamon’s • Conditional
BISA iB and BISA Qurban iB
60th anniversary and Agreement to sell
savings products
inauguration of the new a majority stake in
• Collaboration on financial and
head office, Menara Adira Insurance to
banking literacy and education
Danamon Zurich
programs with the Financial
• Launch of the D-Cash • Launch of Danamon
Services Authority (OJK) through
mobile feature that allows Syaria’s Hajj
Si MObil LitErasi Keuangan
cash transfers through the pilgrimage savings
(SiMOLEK) socialization
D-Mobile application product, linked
• Signing of a memorandum of
• Launch of the Danamon to the Integrated
understanding with Indosat to
Manchester United Flazz Hajj Computerized
establish strategic cooperation in
prepaid card System (SISKOHAT)
telecommunications and banking
• Launch of the D-Card managed by the
services
application for Danamon Indonesian Ministry
• Signing of a memorandum
credit card holders of Religious Affairs.
of understanding with
• Danamon Peduli • Danamon Run 2018,
International Finance
Foundation serves introducing a new
Corporation (IFC), a member of
as one of Indonesia’s half- marathon event
the World Bank Group, in the
representatives at the U.N. • Danamon and Adira
development and design of
Habitat III Conference in donate 40,040 books
financing models, especially in
Quito, Ecuador for Indonesia
the agribusiness sector in the
Danamon Savings and Loan
business unit.
• Cooperation with the • Launch of D-Point, a reward point

International system for all banking activities
• Islamic Trade Finance • Launch of D-Connect, a
Corporation (IITFC) digital banking service for
in Sharia Joint Trade businesspeople
Financing • Launch of Proteksi Prima Amanah
• Launched of the DSP car Sharia Insurance, in collaboration
for micro customers with Manulife Indonesia
• Launching of BISA Umrah • Implementation of the Danamon
iB savings product Run Perdana running event, where
• Launch of the runners can decide where they
e-commerce feature in want to finish
Danamon Online Banking • Launch of the Danamon Red
Match Soccer Camp, giving
children of Danamon customers
2015 an opportunity to practice under
coaches from the Manchester
United Soccer School
2017
53
Milestones
2020
• Danamon confirmed to be a • Danamon launches the D-Bank PRO

BUKU IV bank by Bank Indonesia application, an easy and convenient
• Launched of Danamon Optimal, one-control application to fulfill daily
a financial solution targeted at transaction needs
Upwardly Mobile segment • Danamon Syariah launched digital
• Danamon Optimal New Live Waqf service in 2021 to increase the
Experience, a drive-in concert convenience of customers’ charitable
• Danamon wins three awards contributions
for digital banking from • Commemoration Celebration of
three different international Danamon’s 65th Anniversary held
institutions: Retail Bankers a series of programs entitled
International, Asiamoney, and “Collaboration Festival”
International Data Corporation • Danamon presents a drive-in concert
• Danamon provides more than 2021 New Live Experience Vol.2
11,000 pieces of PPE, 12,000 • Danamon cooperates with Grab to
essential-needs packages, launch the Grab Visa credit card
and insurance to 10,000 BNPB • Danamon received various prestigious
volunteers in the fight against awards, namely The Asian Banker
COVID-19 Transaction Award 2021 for providing
a Cash Management service system
through real-time automatic
payments and posting facilities
• Danamon received the 2021 Indonesia
• Danamon and Bank BNP Property Award for the category of
complete their merger The Most Progressive Mortgage Bank
• MUFG Bank Ltd. increases with Accelerating Partnership
its stake in Danamon to • Danamon received the Mitra Bakti
94% Husada 2021 Award from the
• Danamon completes the Indonesian Ministry of Health in
sale of its majority stake recognition of digital innovation
in Adira Insurance to efforts and the implementation of
Zurich health protocols in the company.
• Danamon and MUFG • Danamon also received an award as
host the first business- ranked first in the 2021 SLE Index for
matching fair in Indonesia the BUKU IV Bank category from the
• 6,000 runners participate 2021 Satisfaction Loyalty Engagement
in Danamon Run 2019 in Awards event.
the ICE BSD area • Danamon together with MUFG and
Adira Finance held a vaccination
center to support the acceleration of
the government’s vaccination program
2019 against the Covid-19 pandemic in
collaboration with the ministry of
health.
54
03 COMPANY PROFILE
Vision and
Mission Statements
Vision We Care and Enable Millions to Prosper. Danamon believes

that its purpose is to care for others: its customers, employees,
and society at large, enabling them to thrive, grow, and achieve
prosperity
Danamon pursues its vision through the following missions:

MISSI n Danamon aims to be ”The Leading Financial Institution in
Indonesia” with a significant market presence.
Danamon believes its strength as a financial • It is key for Danamon employees to satisfy
intermediary is a catalyst for welfare and prosperity. customers, be respectful and provide services
To optimize its role in the growth of the economy, it that society will appreciate.
is imperative for Danamon to be well regarded and • Danamon views that the following positive
occupy a leading position among its peers, as a: attitudes are required:
• Business partner to its customers; and 1. Be adaptable, open and willing to continuously
• Valuable and caring corporate citizen to the learn to respond to change.
public. 2. Understand and focus on self and others’
development.Danamon aims to be ”The
A customer centric organization covering all customer Leading Financial Institution in Indonesia”
segments, each with a unique value proposition, with a significant market presence.
centered on sales and service excellence, supported
by world class technology. We aspire to be an employer of choice and to
• In carrying out its role, Danamon always strives be respected by our customers, employees,
to understand the needs of each customer and shareholders, regulators and the community.
responds appropriately to fulfill them. • Danamon invests to cultivate a culture conducive
• It aims to offer solutions through unique to achieving its goals.
approaches which create value not offered by • Danamon builds collaborations with internal
any other financial institution in the marketplace, and external stakeholders to create valuable
and does so through knowledge from research contributions to many beneficiaries where they
and use of technology. are most needed.
• In doing so, Danamon places emphasis on the
delivery of its services, utilizing the appropriate
technology with utmost care and responsibility.
Review of Vision and Mission Statements:
In 2021, Danamon reviewed the suitability of the Vision and Mission statements with the company’s
condition and the various challenges it will face in the future. Based on it can be concluded that the Vision
and Mission statements are still in accordance with the current condition of Danamon and the challenges
ahead.
55
Corporate Values
As a guide to behaving and performing every Collaboration

task and responsibility, corporate values must
Leverage diversity as strength
be implemented by all employees, members of
to achieve shared goals.
the management, Board of Directors, and Board
of Commissioners of Danamon. Along with the
dynamic development and changes in business,
Danamon has redefined its corporate values to Integrity
achieve objectives in line with the Bank’s vision and Consistently uphold
mission. professionalism, openness,
responsibility and ethics as
performance governance.
Danamon’s corporate values are:
Berkolaborasi (Collaboration),
Customer Centric
Integritas (Integrity) Provide service excellence
Sigap Melayani (Customer Centric), dan experience to all
Adaptif (Adaptive), stakeholders in a way that is
fast, spry and accurate.
abbreviated as “BISA”.
Adaptive
Keep developing and
improving self-potential to
become the best.
56
03 COMPANY PROFILE
CORPORATE LOGO
Danamon Symbol
The Beams of a Lighthouse
Our symbol is inspired by

the beams of a lighthouse,
comprising of two rays of light
Danamon Logotype that radiate outwards from a
This is the corporate typeface that single source. It represents out
sits below the Danamon symbol. It role in helping guide consumers
is a specific font and should be used through the complexities
in combination with the Danamon of financial services. It also
symbol as a single entity. symbolizes our vision to help
millions of people to prosper.
57
OPERATIONAL AREAS
5
2
7 4
1 3
8
Danamon has a network throughout Indonesia from Aceh to Papua.
Danamon operates an extensive distribution network spread out from Aceh to Papua, with 864 branches and
service outlets comprising conventional branches, sharia units, and the branch networks of Adira Finance.
Total Branches
864 Branches
(424 Danamon + 440 ADMF)
58
03 COMPANY PROFILE
Jakarta
Includes Lampung, Tangerang, Depok,
Bogor, Serang, Cilegon, Bekasi, Karawang.
Bandung
Includes Sukabumi, Tasikmalaya,
Purwakarta, Cirebon
Surabaya
Includes Kediri, Malang, Jember,
Pasuruan, Blitar, Madiun
Makassar
Includes Jayapura, Ambon, Palu, Pare,
Kendari, Ternate, Manado, Gorontalo
Balikpapan
Includes Pontianak, Palangkaraya,
Banjarmasin, Samarinda, Tarakan
Medan
Includes Banda Aceh, Lhokseumawe,
Siantar, Sibolga, Batam
Semarang
Includes Solo, Purwokerto, Yogyakarta,
Kudus, Tegal, Magelang
Denpasar
Includes Mataram, Kupang
Palembang
Includes Palembang, Padang, Bengkulu,
Jambi, Pekanbaru
59
ORGANIZATIONAL
STRUCTURE
Annual General Meeting

of Shareholders
Syariah Supervisory Board Of
Board Commissioners
President Director
YASUSHI ITAGAKI
Integrated Corporate
Governance
Audit Remuneration Nomination Risk Corporate

Committee Committee Committee Monitoring Governance
Committee Committee
Global Alliance Strategy Director Compliance Director

Syariah Director Finance Director
NAOKI MIZOGUCH RITA MIRASARI
HERRY HYKMANTO MULJONO TJANDRA
(PJS for Digital & Marketing) (PJS for IR)
Special Portfolio
GCO
Head of Special Portfolio BPS Head Compliance
Management SUSAN TEDJADINATA Executive Officer
GUNAWAN TE Business Collaboration
TARO HASHIMOTO Regulatory Compliance &
CREM Corp. Planning & Advisory Head
CREM Head Investor Relations Head PALUPI
WIBOWO EDI SANTOSO REZA ISKANDAR Global Strategy Manager
YOGI ZADIAN ARIEF Regulatory Compliance
Sustainability Finance & Assurance Head
Financial Controller
Sustainability Finance THERESIA ADRIANA LIE CHEN
Head WIDJAJA Financing Partnership &
ABDUL HADI Innovation Manager Head Of Financial Crime
SANDI WIJAYA Compliance
Syariah Tax Planning & HENDRO BASUKI N.
Strategy Head
Syariah Consumer & SME YUSDIAN FARADIANA Payment Partnership &
Product Sales Head Innovation Manager Head of Corporate
INDRAYANA LAKONI ELISA MAJASARI HALIM Secretary
Financial Shared HENDY D. WONG
Services Head
Syariah & CREM RATNA S. HALIEM Digital & Marketing
Assurance Head
YATNO SUKENDAR *
Procurement Head Credit & Enterprise Risk
ANNEKE THIOFANNY Chief Digital Officer Management Head
Syariah Strategic
Management Head ANDREAS KURNIAWAN ENRIKO SUTARTO
REFITA RULLI ARIEF
ORM, Fraud & QA Head
Chief Marketing Officer EUNICE KURNIAWAN
Syariah Product &
LILY PUSPASARI FOENG
Channel Dev. Head
Market Liquidity
M. YUSUF PRATAMA
Risk Head
*Note: PJS by Global Alliance ARI PRIYATNA
Syariah Wholesale Strategy Director
Product Sales Head
ISABELLA ARITONANG
60
03 COMPANY PROFILE
Organizational Structure
Board Of Directors Committee
Integrated Risk IT Steering Asset & Liability Risk Mngt

Mngt Committee Committee Committee Committee
Real Estate
Sustainability
HR Committe Steering
Committee
Committee
Human Capital Director

Credit Director
HERIYANTO AGUNG
DADI BUDIANA
PUTRA
Sr. Credit Officer Portfolio, Policy & *

HCBP & HC Region Head
Enterprise Banking Analytics Head Consumer Business
PRISKA M CAHYA
ANDRE SANTOSO S. RUSMIN BASUKI Head
LANNY HENDRA
Sr. Credit Officer HC Chief Operating
Head Of Litigation
Enterprise Banking Officer
CAHYANTO C. GRAHANA SME Business Head
NG SUWITO MULJANA RONNY ISWARA
HARYANTO
Sr. Credit Officer EB Head of Legal Counsel
Rewards Head
Remedial SATYO HARYO
ROY FAHRIZAL PERMANA Bancassurance
SHEKY LEMASOA WIBISONO
Business Head
PAULUS BUDIHARDJA
CCO Consumer, SME & Talent Acquisition &
Mass Market Employer Branding Head
REZA PELY R. WIDYARINI UTAMI
Business Operational
Risk & Control Head
Organization Dev & HUMILO FELONA R.
Talent Mngt Head
Integrated Risk (IR) MAIZA DEWI YANTI
Branch Network Head
* SONNY WAHYUBRATA
Employee & Industrial
Risk Modeling, Quant.Tech. Relations Head
& Analytics Head ABDUL HADI
DWI SUSIYANTO *PJS by President Director
Information Risk Learning, Engagement &

Management Head CU Head
RONY I. KUSTENDRO CHRISTIAN T
Change Risk
Management Head
VIVIAN WIDJAJA
*Note: PJS by Compliance

Director
61
Annual General Meeting

of Shareholders
Syariah Supervisory Board Of
Board Commissioners
President Director
YASUSHI ITAGAKI
Governance
Risk Corporate
Audit Remuneration Nomination
Monitoring Governance
Committee Committee Committee
Committee Committee

HONGGO WIDJOJO
KANGMASTO
Treasury & Capital Enterprise Banking &

Transaction Banking Head
Market Head Financial Institution Head
ANDREW SUHANDINATA
HERMAN SAVIO THOMAS SUDARMA
Trading Head EB Business Head EB Business Head EB Business

AUDY PRAKASA Management TB Sales Head
(Jakarta 1) (East Java)
IHUTAN LUBIS Head EDY SUPRIYANTO
AGUS PRATAMA ELMI CHRISTINA
HASAN
Balance Sheet Mgt & EB Business Head TB Sales Head
EB Business Head Financial
Capital Market Head (Jakarta 2) TJHIU FEN
(West & Central Java) Institutions
DANU KRISNA ADELINE INGGRISARI
FLINT INDRAWAN Head
YONATAN
MARGARETHA
Treasury Business TB Product Head
SHERLY
Support Head FERY KASIMAN
HENCHE EB Business Head EB Business Head
(Sumatera) EB Business
(Jakarta 3)
DANNY SUHERMANTO Analyst Head TB Client
Treasury Retail & SME MUHAMMAD ARIEF F.
IFONNE MULJADI Service &
Sales Head Implementation
ELY KUSTONO Head
EB Business Head EB Business EB Business MARGARET
(Jakarta 4) Head (Sulawesi & Analyst Head
Treasury EBFI Sales Head VACANT Kalimantan) WIDIANTO
MEIDAWATI DENIS DOMINANTA
TB Digital &
Customers
Economist
Experience Head
WISNU WARDANA
FIRDODY ISTIVANO F.
TB Strategy,
Treasury Sales only Analytics & Risk
Management Head
ANTONIUS H.
DANANG
62
03 COMPANY PROFILE
Board Of Directors Committee
Integrated Risk IT Steering Asset & Liability Risk Mngt

Mngt Committee Committee Committee Committee
Real Estate
Sustainability
HR Committe Steering
Committee
Committee
Chief Operations Officer

Chief Information Officer Chief Internal Auditor
EVI DAMAYANTI
MAHESH AJIT RANADE YENNY LINARDI
(PJS for SQCC)
Operations Information Technology
Loan & Trade IT Strategy & Product

Operation Head IT Core Systems &
Architecture Head & Support Audit
JULIANDO Service Integration Head
DICKY JAYA PUTRA Group Head
MENACHEM ANTONY TAN
DJOHAN KHO TJHING KIAN
Operation Control & IT Consumer & IT Security, Control

Policy Head Credit Audit Group
SME Digital & Front End & Governance Function
FILIPUS SUWANDI K. Head
Solutions Head Head
INDRA PRASETYA
HENNY LINDA SURYANY W.
Operation
Reporting & IT Production
Development Head IT Enterprise Banking IT Audit & Analytics
Management Head
CHARLES NOVIS S. Systems Head Group Head
GEMILANG
BONDAN MULIAWAN ANDRE HERMAWAN
MADYAKUSUMA
Centralized &
Shared Services
Operations Head IT Regulatory, Data & IT Infrastructure Branch Audit Group
BAYU PRASETYANTO Analytics Head Management Head Head
RICKY INDRAYANTO D. TITUS JONATHAN DWIKO YUNAYANTO
Operation Strategi
Management Head IT Risk
BPR & TMO Fraud Investigation
VACANT Systems Head
Head
HENRY AZA WIDJAJA
ADI PURWANTORO
SQCC YAPPUTRA BPR & TMO Head
* VACANT
(Bondan M. Acting) Audit & Fraud Inv
Service Quality & Strat Dev Group Head
Contact Centre Head ANGGORO H.
SRI SETYANINGSIH GUNADHARMA A.
*Note: PJS by Chief Operations

Officer
63
BOARD OF
COMMISSIONERS PROFILE
Japanese citizen.
Age 61. Domiciled in Tokyo.
Legal Basis of Appointment

Appointed as Commissioner of Danamon at the AGMS on 20
March 2018. Then, appointed as President Commissioner at the
Bank’s AGMS on March 26, 2019. Reappointed at as President
Commissioner at the Bank’s AGMS on March 23, 2020.
QUALIFICATIONS/ACADEMIC BACKGROUND
Graduated with an economics degree from Osaka University
in Osaka, Japan, and obtained a Master’s degree in Business
Administration from the Booth School of Business, University of
Chicago, USA.
Work Experience
A seasoned banker with over 30 years of experience, he began
his career in 1983 at The Sanwa Bank, Ltd., which was a predecessor
of MUFG Bank. He worked in the United States for 10 years, in its
Chicago and New York branches before returning to Japan to take
on more senior roles in structured finance, project and asset-based
finance, and corporate restructuring. Mr. Futae was instrumental in
initiating two key business functions for the bank - the Project & Asset-
based Financing Division, which today is part of the Structured Finance
Division, and the Global Corporate Banking Division, serving the MNCs
and the non-Japanese corporates. Over the years, he has also been
involved in corporate banking, credit and corporate advisory.
Mr. Futae was appointed as the Chief Executive Officer of MUFG

Bank’s Asia & Oceania region in May 2016 and was promoted to
Senior Managing Director in May 2017. In July 2018, he was appointed
as Regional Executive for MUFG Bank in Asia, ensuring the safety and
soundness of the bank’s business and operating platforms in the
region. In April 2019, he was appointed as Chief Executive of Global
Commercial Banking Business Unit, and also as Chief Operating
Officer-International. He served as a Director on the Board of Security
Bank Corporation, one of the leading banks in the Philippines, from
April 2016 to May 2018. He was also the ViceChairman of the Board of
Bank of Ayudhya Plc (Krungsri), Thailand’s fifth largest bank in which
MUFG has a 77 percent majority stake in, from May 2016 to June
2018. With years of banking experience and expertise accumulated
in locations spanning from America to Asia, he brings with him a
global perspective, versatility and rigour that will be invaluable to
any business. Having served as Vice-Chairman of the Board of Bank
of Ayudhya, he understood the importance of leveraging synergies
between a well-respected local partner and a global financial group
for mutual success.
Takayoshi Futae
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03 COMPANY PROFILE
Board Of Commissioners Profil
Indonesian citizen.
Age 75. Domiciled in Indonesia.

He serves as Vice President Commissioner of Danamon since
2005 and reappointed as Vice President Commissioner and
Independent Commissioner at the Bank’s AGMS on March 23,
2020.
Obtains Bachelor degree from University of Indonesia, Diploma
from IIAP/ENA Paris and Certificate (short course) from Adam
Smith Institute London. Obtains Ph.D (Public Administration)
from Sorbonne University Paris, France.
Work Experience
Director of State Wealth Management in the Directorate General of
Monetary Affairs MoF (1980-1987), Director of Budget, the Ministry
of Finance (1987-1990) and Chairman of the National Institute of
Administration (LAN) (1990-1998). Assistant to the Coordinating
Minister for Development Supervision and Administrative Reform
(1999-2001), Deputy Minister for Administrative Reform (2001-
2003). Secretary General of the Ministry of Communication
and Information (2003-2005), Secretary General of the Ministry
of Finance (2005), Chairman of Atmajaya Foundation (Jakarta
Catholic University (2006-2011), Senior Advisor to the Minister
of Finance (2009-2011), Secretary Team of Tax and Customs
Reform (2010). He serves as a Chairman of National Task Force
for Bureaucracy Reforms (until now). Commissioner in several
State-Owned Enterprises, namely PT Tambang Batubara Bukit
Asam (1980), Bank Dagang Negara (1982), PT Aneka Tambang
(1986) and Bank BNI (2005). PT Citra Tubindo until now. He serves
as Professor at Padjadjaran University, Bandung, since 2007.
Member of supervisory Board of Jakarta French School (Lycee
Francais de Jakarta) (2012), Chairman of Independent Panel for
Public Service Innovation Competition. Menpan Decree 2021.
Member of Supervisory Board of lndonesian Climate Change
Ministry of Forestry and Environment (2021)
J.B. Kristiadi Pudjosukanto

(Independent)
65
Indonesian citizen.
Board Of Commissioners Profil Age 72. Domiciled in Indonesia.

Appointed as Independent Commissioner of Danamon at the AGMS on
20 March 2018. Reappointed as Independent Commissioner at Danamon’s
AGMS on 23 March 2020.
Bachelor of Economic from University of Padjajaran, Bandung, Indonesia.
Work Experience
He is a renowned banker with over four decades of extensive experience
in the banking industry. He started his banking career as a management
trainee and he rose rapidly to assume important roles in several prominent
banks. He was as a member of PT Bank CIMB Niaga Tbk Board of Directors
from 1991 until 1994 and was appointed as the Bank’s Vice President
Director from 1994 until 1997. He then moved to Bank Pelita as the Vice
President Director from 1997 to 1998 prior to assuming the supervisory role
as President Commissioner of PT Bank Danamon Indonesia Tbk in 1998 to
1999. He also led Bank Dagang Negara, a state-owned bank, as President
Director. This bank later merged with three other state-owned banks and
was reconstituted as PT Bank Mandiri (Persero) Tbk, where he was assigned
as the Executive Vice President from 1999 until 2000. He then rejoined PT
Bank CIMB Niaga Tbk where he was President Director, from 2000 until
2006. He was then appointed as a Commissioner of Bank Permata from
2008-2009 and he later served as the President Commissioner of PT Bank
Peter Benyamin Stok Negara Indonesia (Persero) Tbk (BNI) from 2009 to 2015. His proficiency
Independent Commissioner in managing and supervising banks through various business cycles, has
enabled him deliver value creation, not only to the banks he worked for, but
also to the banking industry as a whole. His strong leadership and ability
to bring about a harmonious working relationship amongst stakeholders,
has earned him a lot of admiration and respect. He has also served on
OJK’s prestigious ‘Fit and Proper Test’ panel that interviews candidates
for Banking Commissioner and Director roles from 2016 until 2018. This is
an important assignment, which determines the leadership and future of
Indonesian banking industry.
Japan Citizen.
Age 49. Domiciled in Japan.

Appointed as Commissioner of Danamon at the EGMS on 1 October 2019.
Reappointed as Commissioner at Danamon’s AGMS on 23 March 2020.
Nobuya Kawasaki graduated from Keio University with a Bachelor
of Mechanical Engineering and earned Master degree of Mechanical
Engineering from Keio University.
Work Experience
Kawasaki is a Managing Director, Head of Global Commercial Banking
Planning Division, which is responsible for developing, communicating,
executing, and sustaining inorganic strategic initiatives. Kawasaki belonged
to M&A division of Mitsubishi UFJ Morgan Stanley, one of the major
subsidiaries of MUFG, where for seven years where he was in charge of
M&A advisory. In the early part of his career, Kawasaki was in charge of
securitization business for six years and was one of the founding members
of the Credit Portfolio Management Division. During his more than 20
years of tenure with MUFG Bank, Kawasaki has developed strong M&A and
Investment banking expertise. He led MUFG investments in Security Bank
(2016) and PT Bank Danamon Indonesia Tbk (2018-2019).
Nobuya Kawasaki
Commissioner
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03 COMPANY PROFILE
Indonesian Citizen.
Age 63. Domiciled in Jakarta. Board Of Commissioners Profil

Appointed as Independent Commissioner of Danamon at the EGMS on 26
November 2020.
Holds MBA from Joseph M. Katz Graduate School of Business University
of Pittsburgh, USA. Accelerated Program with concentration in Finance
and obtained Doctoranda degree from Parahyangan Catholic University
Bandung, Indonesia. Majoring in Management.
Work Experience
Before joining Danamon, Hedy Lapian served as Crisis Management Advisor
(April 2020-June 2020) and Human Resources Director of PT Bank CIMB
Niaga Tbk (April 2016-April 2020). She was the Independent Commissioner
of PT Asuransi Tokio Marine Indonesia (October 2015-March 2016). Director
SRO (covering credit risk and risk management) of PT Bank DBS Indonesia
(May 2014-August 2014). Risk Management Director of PT Bank Internasional
Indonesia Tbk (July 2010-March 2014). Commercial Director of PT Bank Barclay
Indonesia (January 2009-June 2010), with primary responsibility to set up and
start the Corporate, Commercial, SME, Financial Institution, Trade and Cash
Management units for the newly set up Bank. Prior to Barclays, she was the Hedy Maria
Country Head, Corporate and Institutional Banking at ABN AMRO Bank N.V., Helena Lapian
(September 2007-December 2008). In 2001 to 2006, she was the Director Independent Commissioner
& CFO of PT AIG Life, then the most profitable life insurance in Indonesia.
From March 2000 to December 2001, she served as the Managing Director
of Corporate and Investment Banking of PT Bank Internasional Indonesia
Tbk, and Director at American Express Bank (1994-2000). She also served on
several non executive positions in ING Indonesia Bank, American Express TRS,
Standard Chartered and Bank of Trade, San Francisco.
Japanese citizen.
Age 57. Domiciled in Singapore.

Appointed as Commissioner of Danamon at the AGMS on 30 April 2021.
Master of Business Administration from The Wharton School of the University of
Pennsylvania (1994) and Bachelor of Arts in Law from University of Tokyo, Japan (1988).
Work Experience
Taka was appointed Regional Executive for Asia Pacific of MUFG Bank on 14
May, 2021. Prior to this appointment, he was Regional Executive for EMEA,
Head of Japanese Corporate Banking Division for MUFG Bank, and was
based in London. Then he was responsible for developing and executing the
MUFG‘s business strategy and operations in EMEA. Taka is a seasoned banker
with more than 30 years of experience, largely in investment banking, with
particular focus on M&A advisory and capital markets, as well as in strategic
planning. He has led the bank to make strategic investments in VietinBank
and in 2013 and the US$5 billion majority investment in Krungsri in Thailand,
establishing MUFG’s commercial banking platform in Asia. He has driven and
realized numerous strategies of the MUFG group from various aspects not
Takanori Sazaki only for business but also governance and internal control.
Commissioner
67
Thailand citizen.
Board Of Commissioners Profil
Age 61. Domiciled in Thailand.

Appointed as Commissioner of Danamon at the AGMS on 30 April 2021.
Master of Business Administration (MBA) in Finance and Marketing from
Indiana University, Bloomington, IN, USA (1984) dan Bachelor’s Degrees
with Honors in Electrical Engineering and Biomedical Engineering from the
University of Southern California in Los Angeles, California (1982).
Work Experience
Dan is a Senior Advisor at the Bank of Ayudhya (Krungsri). He has extensive
experience in the business management and financial services area.
Prior to becoming a Senior Advisor, Dan held various important positions
at Bank Ayudhya (Krungsri), namely: Chief Marketing Officer, Head of
Marketing and Cross Sale, Head of Marketing and International Business
Development, Head of Marketing and Branding, and Head of Retail and
Consumer Banking. Before joining Bank Ayudhya (Krungsri), Dan used to
work at GE Money Asia Regional Office in Bangkok, Thailand, with his last
Dan Harsono position as Chief Marketing Officer. And successfully managed GE Capital
Commissioner Thailand during the financial crisis ‘Tom Yam Gung’ in 1997-2001.
Indonesian Citizen.

Appointed as Independent Commissioner of Danamon at the EGMS on 26
August 2021.
Doctoral Degree (S3) University of Indonesia, Finance (2004-2008), Master of Arts
in Development Economics (S2), Boston University, USA (1983-1985), Bachelor
Degree (S1) University of Gadjah Mada, Indonesia, Faculty of Law (1976-1981) and
Bachelor Degree (S1) University Islam Indonesia, Indonesia, Faculty of Economic
Management (1975-1980).
Work Experience
Halim Alamsyah is a well-known and well-respected individual in the regulatory
area of the Indonesia financial industry. In 1982, Halim started his career at Bank
Indonesia as a Credit Analyst at the Cooperative Credit. He later dedicated himself
in the economic and monetary research for more than a decade, prior to his
assignment as Head of the Governor’s Bureau of Bank Indonesia in 2000. In view
of his extensive experience in Bank Indonesia and his excellence performance,
Halim was appointed by the President of the Republic of Indonesia and Indonesia Halim AlamsyaH
House of Representative to carry out the mandate as Deputy Governor of Independent Commissioner
Bank Indonesia for term of office from June 2010 to June 2015. On September
2015, Halim was again trusted by the Government of Indonesia as Chairman
Commissioner of the Indonesia Deposit Insurance Corporation (Lembaga
Penjaminan Simpanan/ LPS) until September 2020. Currently, Halim serves as
the Expert Staff of the Minister of Finance, Sector Islamic Finance and Finance.
68
03 COMPANY PROFILE
BOARD OF
DIRECTORS PROFILE
Japanese citizen.

Itagaki joined Danamon as Director on March 2018 and
later appointed as President Director in the EGMS on 1
October 2019. Reappointed as President Director in the
AGMS on 23 March 2020.
Graduated with a Bachelor of Laws degree from
Kyoto University in 1987.
Work Experience
Prior to joining Danamon Itagaki served as the
Managing Executive Officer and Deputy Chief
Executive of the Global Commercial Banking
Business Unit of MUFG Bank and Executive Officer
of MUFG. Prior to his position above, Itagaki was
the General Manager of the Global Planning Division
where amongst his many roles; he was responsible
for strategic planning in support of the Bank’s global
expansion. Over the course of his career with the
firm, Itagaki has held a number of important roles
with increasing levels of responsibility. Itagaki was
based in Singapore from 2013 to 2015 where he
set up the Bank’s regional headquarters for Asia &
Oceania and assisted the Regional CEO in developing
and executing key strategic initiatives for the region.
Among the many important contributions of Itagaki

to the development of MUFG’s business platform,
he designed grand picture and strategized ASEAN
commercial banking network. Throughout his career
at MUFG, Itagaki has played a significant role in the
strategic partnership into Krungsri, Security Bank,
VietinBank, and Danamon in ASEAN region. Other
leadership positions held by Itagaki included Chief
Manager of the Global Planning Division of MUFG Bank,
where he was involved in the privatization of Union
Bank of California and led the execution process of
MUFG’s strategic investment in Morgan Stanley during
the global financial crisis. Itagaki began his career with
the Bank of Tokyo in 1987.
Roles and Responsibilities

Itagaki leads the Board of Directors of Danamon
and oversees the Bank’s overall business and
operations which includes: Consumer & SME
Banking, Enterprise Banking, Micro Banking, Sharia
Banking, Global Collaboration, Transaction Banking,
Treasury & Capital Market, and Branch Network. He
also oversees the Bank’s Human Capital, Integrated
Risk, Finance, Information Technology, Operations, Yasushi Itagaki
Compliance, Corporate Secretary, Legal, Operations, President Director
Internal Audit, and the Bank’s subsidiaries.
69
Board Of Directors Profile
Indonesian Citizen.

Appointed as Vice President Director of Danamon at
the EGMS on 1 October 2019. Reappointed as Vice
President Director at the AGMS on 23 March 2020.
Graduated with a Bachelor degree from Sam Ratulangi
State University majoring in Social Economics of
Fisheries in 1988, and received his MBA degree from
Royal Melbourne Institute of Technology in 1994.
Work Experience
He is a seasoned banker with 31 years of experience
and has numerous knowledge in the banking and
financial industry. He started his banking career with
PT Bank Central Asia Tbk (BCA) with latest position
as Head of Regional Credit Department (1989-1996)
and later moved to PT Bank Internasional Indonesia
Tbk (BII) as VP and Head of Corporate Banking
(1996-2000). He spent approximately 6 years at PT
Bank Mandiri (Persero) Tbk (2000-2006). He was
given responsibility in the areas of Retail Banking,
Distribution & Network, and Commercial Banking with
latest position as EVP and Board of Management of
PT Bank Mandiri (Persero) Tbk. He was also assigned
as Commissioner of PT Mandiri Sekuritas (2003-
2006). He then joined PT Indofood Sukses Makmur
Tbk as Managing Director (2006-2007). Afterwards,
he went back to the banking industry and became
the Managing Director Wholesale Banking of PT
Bank Permata Tbk (2008-2010). In 2010 to 2015, PT
Bank Negara Indonesia (Persero) Tbk (BNI) entrusted
Honggo as the Managing Director in charge of IT and
Operations. He was later appointed as the President
Commissioner of PT Pembangunan Jaya Ancol Tbk
(2016-2017) and President Commissioner at PT Bank
DKI (2015-2018).

Enterprise Banking, Financial Institution, Transaction
Banking, and Treasury Sales.
Honggo Widjojo
Kangmasto
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03 COMPANY PROFILE
Indonesian citizen.

Appointed as Director of Danamon since 2008 and
reappointed as Director at the AGMS on 23 March
2020.
Obtained Bachelor degree from Padjadjaran
University, Bandung.
Work Experience
Started his career as the International Operation Head
in Bank Universal (1992-2000). Standard Chartered
Indonesia as Senior Cash Management & Trade
Business Development Manager (2000-2003). In 2003
joined Danamon as Head of Transaction Banking.
The first Indonesian banker holding international
certification in letter of credit from the International
Chamber of Commerce France in 1998.

Sharia Banking, Corporate Real Estate Management,
Micro Banking, Business Banking Unit and
Sustainability Finance.
Herry Hykmanto
Director
71
Indonesian citizen.

reappointed at the AGMS on 23 March 2020.
Obtained Bachelor of Law from University of Indonesia.
Work Experience
Starting her banking career in 1991, become a
Compliance Director/Country Head Legal & Compliance
at Standard Chartered Bank Indonesia (1998-2006).
Director, Country Compliance Representative at ABN
AMRO Bank NV Indonesia (2006-2009). Director Legal,
Compliance, and Corporate Secretary at PT Bank
Internasional Indonesia Tbk (now PT Bank Maybank
Indonesia Tbk) (2009-2013). Director, Regulatory
Compliance & Financial Crime at The Hongkong
Shanghai Banking Limited (HSBC Indonesia) (2013-
2016).

Compliance, Corporate Secretary, and also responsible
as Acting Director in charge of Integrated Risk
Management from July 24, 2021 to December 31, 2021.
Rita Mirasari
Director
72
03 COMPANY PROFILE
Indonesian citizen.

reappointed as Director in the AGMS on 23 March
2020.
Obtained Master Degree at University of Indonesia.
Work Experience
Previous experienced at PT Garuda Indonesia (Persero)
Tbk as Director of Human Capital and Corporate
Affairs starting from 2011 until 2016, He also served
as President Commissioner of PT Garuda Maintenance
Facility Aero Asia Tbk (GMFAA) Garuda and as secretary
of Board of Commissioner of PT Garuda Indonesia
(Persero) Tbk (2010-2011). And also, as Head of Human
Capital Management, Business Support, Head of Cost
Controller, Head of General Strategic Sourcing.

Human Capital.
Heriyanto Agung Putra

Director
73
Indonesian citizen.

He joined Danamon in 2017 and appointed as
Director at the AGMS on 20 March 2018. Reappointed
as Director at the AGMS on 23 March 2020.
Obtained a Bachelor of Arts in Economics from
Binghamton University, USA.
Work Experience
Started his career in 1992 as Management Trainee
at PT United Overseas Bank Bali. Moved to PT
Bank Modern Tbk in 1994 with the last position as
Investment Banking Team Leader. Joined PT Bank
HSBC Indonesia in 1998 and assumed various senior
roles such as Senior Vice President in Business
Banking, Human Resources, Global Banking, Credit
Risk Management, etc. In 2009, was assigned by HSBC
Group as Credit Risk Management Consultant in PT
Bank Ekonomi Raharja Tbk. In 2010, he was appointed
as Head of Corporate Banking in PT Bank Ekonomi
Raharja Tbk, in addition to his role in the various
Board-level committees. His last position at HSBC
Group was as Chief Risk Officer of PT Bank Ekonomi
Raharja Tbk since 2014 and President Commissioner
of PT HSBC Securities Indonesia since 2016.

Credit and Legal.
Dadi Budiana
Director
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03 COMPANY PROFILE
Indonesian citizen.

Appointed as Director of Danamon in the EGMS on 1
October 2019. Reappointed as Director at the AGMS
on 23 March 2020.
Obtained Bachelor degree in Accounting from Trisakti
University, Jakarta and Certified Public Accountant,
Indonesia.
Work Experience
Muljono joined Danamon as Finance Director in June
2019. Previously he was the Finance Director in PT
Bank UOB Indonesia (2015-2019), and Finance Director
in PT Asuransi Adira Dinamika Tbk (2012-2015).
Previously, Muljono had joined Danamon (2003-2012)
with last position as Head of Financial Accounting
and Tax. He also worked for Public Accountant Firm
of PwC and KPMG (Indonesia and Australia) from year
1990 to 2003.

Finance, Corporate Planning, Strategy dan Services.
Muljono Tjandra
Director
75
Japan Citizen.

Joined Danamon since October 2018 as Senior
Consultant Global Collaboration. Appointed as
Director in EGMS on 1 October 2019. Reappointed as
Director at the AGMS on 23 March 2020.
Obtained Bachelor of Economics from Keio University
(1995) and Master of Science in Management from
Stanford Graduate School of Business (2014).
Work Experience
Naoki started his career in banking when he joined a
predecessor bank of MUFG Bank in 1995 as Associates
in Operations, Retail Banking, and SME Banking
and was later assigned to New York as Associates
responsible for Treasury Sales and Trading in 1999.
Naoki was then promoted as Vice President in charge
of Corporate Banking in 2002. After a decade in the
front-line, MUFG Bank assigned Naoki a number
of strategic planning roles with increasing levels
of responsibilities, namely: Director of Corporate
Planning in Tokyo (2006-2010), Director of Regional
Planning in London (2010-2013) and Managing Director
of Global Planning in Tokyo (2014-2018).

Collaboration with MUFG and its partner banks.
Naoki Mizoguchi
Director
76
03 COMPANY PROFILE
PROFILE OF SHARIA Profile Of Sharia Supervisory Boar
SUPERVISORY BOARD
Indonesian citizen.

He has been serving as Chairman of Syariah
Supervisory Board, Syariah Business Unit Danamon
since 2002 and reappointed with the same position
at the AGMS on 23 March 2020.
He earned his Bachelor degree from IAIN Syarif
Hidayatullah, Jakarta (1979), and earned his M.A. in
1988 and a Ph.D from the University of California Los
Angeles (UCLA), USA in 1991.
Work Experience
He is Professor of Islamic Politics, UIN Jakarta,
Chairman of PP Muhammadiyah (2005-2015),
Chairman of MUI Advisory Council (2015-2020),
Special Envoy of the President of the Republic of
Indonesia for Interfaith and Intercultural Dialogue and
Cooperation (2017 -2018), President Asian Conference
on Religions for Peace (ACRP) (2004-2021), Chairman
of the Center for Dialogue and Cooperation among
Civilizations (CDCC) (2007-present), Co-President of
World Conference on Religions for Peace (WCRP)
(2006-present), Chairman of the world Peace Forum
(WPF) (2006-present), Member of the Leadership
Council of United Nations Sustainable Development
Solutions Network (2015-present), Advisory board
member of King Abdulaziz International Centre
for Interfaith and Intercultural Dialogue (KAICIID)
(2015-sekarang), Member of Group for Strategic
Vision Russia-Islamic World (2006-present).
PROF. DR. H.M. SIRAJUDDIN

SYAMSUDDIN, MA
Ketua Dewan Pengawas Syariah
77
Profile Of Sharia Supervisory Boar
Indonesian citizen.
Domiciled in Indonesia. Age 60.

He has been serving as Member of Syariah Supervisory Board, Syariah
Business Unit Danamon since 2002 and reappointed with the same position
in the AGMS on 23 March 2020.
He earned his Bachelor’s Degree (1989), Master of Religion (M.Ag) (1997)
and Doctorate from IAIN Syarif Hidayatullah, Jakarta (2008).
Work Experience
He is a Lecturer at UIN Syarif Hidayatullah , and Lecturer at the Faculty of Shari’ah
Institute of Al-Qur’an Science (IIQ) Jakarta Under-Graduate & Post-Graduate
(2010-present), Secretary of the Fatwa Commission of Majelis Ulama Indonesia
(1997-2010), Deputy Secretary ofthe Daily ImplementingAgency (BPH) ofthe National
Sharia Council MUI (1999- 2015), Deputy Chairman of the Daily Implementation
Board (BPH) National Sharia Council MUI (2015-2020), Chairman and Member of
Sharia Supervisory Board (SSB) at BNI Sharia Bank (2010-2021), Member of Board
of Syari’ah Standard Accounting (DSAS) - Indonesian Accountant Association
(IAI) (2012 to 2016), working Member KPJKS OJK (2014-2016), Deputy Chairman
of the Fatwa Commission of the Indonesian Council of Ulama (2010-present),
Chairman of BPH National Sharia Council-MUI (2020-present), Chairman of
Sharia Supervisory Board (SSB) at BSI Bank (2020-present), Chairman of SSB at
DR. K.H.
TAFS Sharia (2014-present), Chairman of SSB at PT Trimegah Asset Management
HASANUDIN, M. AG.
(2015-present), Chairman of SSB at Syariah Business Unit PT Sarana Multigriya
Member of Sharia
Financial (2018-present), Member of Capital Market Development Team Sharia
Supervisory Board
Bursa Efek Indonesia (IDX), and Training Instructor organized by DSN-MUI in sharia
banking, sharia Insurance, sharia financing companies, sharia capital market, and
sharia cooperatives (2015-present).
Indonesian citizen.

He has been serving as Member of Syariah Supervisory Board, Syariah
Business Unit Danamon since 2018 and reappointed with the same
position in the AGMS on 23 March 2020.
Graduated from IAIN Syarif Hidayatullah Jakarta (1993) and obtained a
Master’s Degree in Religion (M.Ag) from Muhammadiyah University Jakarta
(2001), as well as a Doctoral degree from UIN Syarif Hidayatullah Jakarta
(2020).
Work Experience
Mr. Asep is a Syariah Supervisory Board (SSB) with more than 5 years of
experience. He is a Lecturer at the Faculty of Religion of Muhammadiyah
University of Jakarta (2008-present) and also serves as the Deputy
Secretary of Daily Implementation Board (BPH) National Syariah Council
MUI (2015-2020 and 2020-present). In addition, Mr. Asep is the Chairman
of SSB PT Capital Life Syariah (2016-present); Chairman of SSB PT Asuransi
Jiwa Generali Indonesia (Syariah Business Unit) (2017-present), and SSB
member of PT Fintek Karya Nusantara (Link Aja Syariah) (2020-present).
He was a Member of Non-Bank Financial Industry (IKNB) National Syariah
Council MUI (2013-2015), and Senior Lawyer at Law Office of Remy & DR. ASEP
Partners (2002-2015). SUPYADILLAH, M.AG
Member of Sharia
Supervisory Board
78
03 COMPANY PROFILE
PROFILE OF Profile Of Independent Parties
INDEPENDENT PARTIES
Indonesian citizen. Age 66.
Domiciled in Indonesia.

Serves as an independent party and became a member of the Risk
Oversight Committee, member of independent Audit committee and
member of ICG Danamon since 2020.
He obtained his Bachelor of Economics from Faculty of Economics-
Airlangga University (1989) and Master of Arts (MA) in Development
Economics from Williams College, Williamstown Massachusetts, USA
(1989). He is also certified Chartered Accountant (CA-Indonesia).
Work Experience
He serves as the President Commissioner of PT Artajasa Electronic Payment
(2017-2020). Previously served as president Commissioner of PT Mekar Prana
Indah-Bidakara Group (2014-2017). Starting his carrier with Bank Indonesia with
several position among others as Executive Director at The Department of Credit,
Rural Bank and MSME (2012-2013). Director at Directorate of The Accounting
and Payment System (2012- 2012). Senior Researcher in Banking Regulation
and Central Banking Studies (2008-2012). Director at The Directorate of Bank
Supervision dan Examination (2007-2008). Deputy Director/ Head of Dealing
Room/Head of Foreign Exchange Management Bureau at Directorate of Foreign
Reserve Management (2001- 2007).

Member of Risk Oversight Committee and Integrated Corporate Governance Zainal Abidin
Committee.
Independent Party
Indonesian citizen. Age 59.

Domiciled in Indonesia.

Serves as an independent party and became a member of the Risk Oversight
Committee and a member of independent Audit Committee Danamon since
2020.
She obtained her bachelor degree in accounting from Faculty of Economics-
University of Indonesia (1986) and Master of Business Administration in
Finance from Katholieke Universiteit Leuven, Belgium (1990). She is also
Certified Public Accountant and CA.
Work Experience
She is a public accountant with the position of Senior Managing Partner
at the Public Accounting Firm Amir Abadi Jusuf, Aryanto, Mawar & Rekan,
member firm of RSM International (1994-present). Previously she was
Associate Consultant at the Institute of Management Faculty of Economics
of University of Indonesia (1990-1994) and Senior Auditor at SGV-Utomo
Public Accounting Firm, member firm of Arthur Andersen & C0. (1996-
1998). She was also a lecturer at the accounting department of the Faculty
of Economics and Business-University of Indonesia (1985-present). In
addition, she is the chairman and member of the Supervisory Board of the
Indonesian Institute of Certified Public Accountant (IAPI) (2018-present),
the Association of Indonesian Audit Committee (2004-present) and the
Indonesian Association of Curators and Receivers (1999-present).
Mawar I.R. Napitupulu Roles And Responsibilities

Independent Party Member of Audit Committee and Risk Oversight Committee.
79
EMPLOYEE
DEMOGRAPHIC
Head Count as of 31 December 2021 (Consolidated)

Entity 2021 2020 2019
Danamon 8,773 8,926 10,382
Adira Finance 17,093 16,424 17,677
Total 25,866 25,350 28,059
Employee Composition Based on Organization Level (Consolidated)

Position 2021 2020 2019
Top Management & Technical Advisors 22 23 22
Senior Managers 359 354 339
Managers 2,983 2,890 2,934
Officers 7,564 7,806 8,380
Staff 14,938 14,277 16,384
Total 25,866 25,350 28,059
Employee Composition Based on Employment Tenure (Consolidated)

Employment Tenure (years) 2021 2020 2019
0-3 7,937 6,242 8,975
3-5 3,537 3,768 3,138
5-10 5,171 5,819 7,946
10-20 7,210 7,393 5,894
>20 2,011 2,128 2,106
Total 25,866 25,350 28,059
80
03 COMPANY PROFILE
Employee Demographic
Employee Composition Based on Age (Consolidated)

Age (years) 2021 2020 2019
<25 977 931 1,763
25-34 11,969 11,761 11,633
35-44 9,370 9,255 11,173
>45 3,550 3,403 3,490
Total 25,866 25,350 28,059
Employee Composition Based on Level of Education (Consolidated)

Education Level 2021 2020 2019
Postgraduate 475 417 419
Graduate 18,353 17,821 19,620
Diploma 4,532 4,668 5,204
High School 2,503 2,441 2,812
Middle/Primary School 3 3 4
Total 25,866 25,350 28,059
Employee Composition Based on Level of Education (Consolidated)

Employment Status 2021 2020 2019
Permanent 1)
22,509 22,335 22,999
Non-Permanent 2)
3,357 3,015 5,060
Total 25,866 25,350 28,059
Notes
1)
Permanent employees include permanent employees and employees on probation
2)
Non Permanent Employees include contract workers, trainees, those on honorariums and expatriates, Data
does not include outsourced employees
81
SHAREHOLDERS
COMPOSITION
Shareholders Composition
Shareholders Number of
(%)
Name Shares
Shareholders 7.53% MUFG Bank, Ltd.

(directly & indirectly)
9,038,053,192 92.47%
per 31 December Public
2021 Public 735,499,678 7.53%
Total 9,773,552,870 100.00%
92.47%
MUFG Bank, Ltd.
(directly & indirectly)
MUFG Bank, Ltd.
NAME
(secara langsung & tidak
LASTNAME
JOB POSIT
ION
langsung)
Share Ownership of Danamon by Members of
the Board of Commissioners and Board of Directors
Number of
No. Name Position Percentage
Shares
1. Takayoshi Futae President Commissioner - -
2. JB Kristiadi Vice President Commissioner (Independent) - -
3. Peter Benyamin Stok Commissioner (Independent) - -

4. Nobuya Kawasaki Commissioner - -
5. Hedy Maria Helena Lapian Commissioner (Independent) - -
6. Takanori Sazaki Commissioner - -
7. Dan Harsono Commissioner - -
8. Halim Alamsyah Commissioner (Independent)
Board of Directors
No. Name Position Number of Shares Percentage
1. Yasushi Itagaki President Director - -
2. Honggo Widjojo Kangmasto Vice President Director 260,600 0.00
3. Herry Hykmanto Director 350,956 0.00
4. Rita Mirasari Director 164,700 0.00
5. Heriyanto Agung Putra Director 207,600 0.00
6. Dadi Budiana Director 272,500 0.00
7. Muljono Tjandra Director 184,100 0.00
8. Naoki Mizoguchi Director - -
82
03 COMPANY PROFILE
Shareholders Composition
TOP 20 Shareholders as of 31 December 2021
(%)
No. Investor Total Shares Owned
Shareholding
1 MUFG Bank Ltd 8,940,317,662 91.5
2 UBS AG London-2140724000 161,982,884 1.7
3 PT Guna Dharma 95,846,434 1.0

4 UL Equity Solid 28,589,200 0.3
5 Citibank New York S/A Government of Norway 27,172,100 0.3
6 PT. Cealmi Khiezt Indonesia 10,725,800 0.1
Citibank New York S/A Emerging Markets Core Equity Portfolio of DFA
7 9,341,454 0.1
Inv Dimensions GRP Inc.
8 Reksa Dana Insight Infra Development (I-INFRA) 9,525,700 0.1
9 Caceis Bank, Luxembourg Branch 8,000,000 0.1
10 LGT Bank AG - Client Assets 6,496,900 0.1
11 Credit Suisse AG, Singapore Branch Trust Account Clients 7,239,300 0.1
12 JPMCB NA RE-Vanguard Total International Stock Index Fund 6,946,150 0.1
13 BCSL Client A/C PB Cayman Clients 7,022,600 0.1
14 Erik Chan 6,370,000 0.1
15 JPMCB NA RE - Vanguard Emerging Markets Stock Index Fund 6,038,500 0.1
16 Efendi 5,410,000 0.1

17 Manulife Dana Ekuitas 4,686,100 0.1
18 PT. Prudential Life Assurance - REF 4,702,100 0.1
19 UOB Kay Hian Pte Ltd 3,959,544 0.0
20 Dana Pensiun Astra Dua 3,712,100 0.0
83
MAJORITY & CONTROLLING

SHAREHOLDERS
MUFG Bank, Ltd. Public

(direct and indirect)
7.53%
92.47% (22,400,000 shares) Series A Shares
(9,038,053,192 shares) Series B (713,099,678 shares) Series B Shares
Adira Finance Adira Quantum *)

92.07% 99.00%
*) In Liquidation
About MUFG
MUFG is one of the world’s leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG
has a global network with over 2,500 locations in more than 50 countries. MUFG Group has over 130,000 employees and
offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management,
and leasing. The Group aims to “be the world’s most trusted financial group” under the MUFG’s purpose “Committed to
empowering a brighter future” through close collaboration among our operating companies and flexibly respond to all of
the financial needs of our customers, serving society, and fostering shared and sustainable growth for a brighter future.
MUFG’s shares trade on the Tokyo, Nagoya, and New York stock exchanges. For more information, visit https://www.mufg.
jp/english.
84
03 COMPANY PROFILE
SHARE LISTING CHRONOLOGY
Danamon has listed its shares on the Indonesia Stock Exchange in 1989, under the ticker symbol BDMN with
9,773,552,870 shares in circulation, consisting of 22,400,000 Series A Shares and 9,751,152,870 Series B Shares. Shares
not listed in order to comply with Government Regulation (PP) No. 29 of 1999 concerning Purchase of Commercial
Bank Shares amount to 97,735,530 shares in the name of PT Guna Dharma.
The following is the timeline of Danamon’s share listing:
Share Listing Timeline

Series A Shares
Shares originating from initial public offering in 1989 12,000,000
Founder stock 22,400,000
Bonus shares derived from the capitalization of additional paid-in capital in 1992 34,400,000
Shares originating from limited public offering with pre-emptive rights (rights issue) I in 224,000,000
1993
Bonus shares derived from capitalization of additional paid-in capital in 1995 112,000,000
Shares originating from limited public offering with pre-emptive rights (rights issue) II in 560,000,000
1996
Founder stock in 1996 155,200,000
Shares originating from changes in the nominal value of shares in 1997 1,120,000,000
2,240,000,000
Increase in par value to Rp10,000 (full amount) per share through a reduction in the :20
number of shares (reverse stock split) in 2001 112,000,000
Increase in par value to Rp10,000 (full amount) per share through a reduction in the :5
number of shares (reverse stock split) in 2001 22,400,000
Total number of Series A shares as of 31 December 2021 22,400,000
85
Majority & Controlling Shareholders
Series B Shares
Shares originating from limited public offering with pre-emptive rights (rights issue) III in 215,040,000,000
1999
Shares issued in the context of the merger with PDFCI in 1999 45,375,000,000
Shares issued in the context of the merger with Bank Tiara in 2000 35,557,200,000
Shares issued in the context of merging with 7 other BTO * (Taken-Over Banks) in 2000 192,480,000,000
488,452,200,000
Increase in par value to Rp100 (full amount) per share through reduction in the number of :20
shares (reverse stock split) in 2001 24,422,610,000
Increase in par value to Rp500 (full amount) per share through a reduction in the number :5
of shares (reverse stock split) in 2003 4,884,522,000
Shares originating from limited public offering with pre-emptive rights (rights issue) IV in 3,314,893,116
2009
Shares originating from limited public offering with pre-emptive rights (rights issue) V in 201 1,162,285,399
Shares issued in the framework of the employee compensation program/share-based management (stages I-III)
-2005 13,972,000
-2006 24,863,000
-2007 87,315,900
-2008 13,057,800
-2009 29,359,300
-2010 26,742,350
-2011 5,232,500
Shares originating from the merger process with PT Bank Nusantara Parahyangan Tbk in 2019 188,909,505
Total number of Series B shares as of 31 December 2021 9,751,152,870
86
03 COMPANY PROFILE
TIMELINE OF OTHER
SECURITIES LISTINGS
Bonds/
Trading Codes/ Principal Amount & Date of Date of Ratings
Status Trustee Ratings by Year
Registered Interest Rate Issue Issue Agency
Exchange
Subordinated US$300 30 March 30 March Buy back/ DB Moody’s 2004: B3

Debt Code: CI 7.65% 2004 2014 Settlement Trustees Investors 2005: B2
(Option 30 March (Hong Service, Inc. 2006: Ba3
Settlement 2009 Kong) Fitch, Inc 2007: Ba2
30 Mar Limited 2008: B1
2009) 2004: B
Singapore S&P 2005: B
Stock
Exchange
Bond Series Rp250,000,000,000 20 April 19 April Fully paid PT Bank PT 2007: AA-
IA Year 9.40% 2007 2010 Mega Tbk. Pemeringkat 2008: id AA+
2007 Code: Efek 2009: id AA+
BDMN01A Indonesia 2010: idAA+
Indonesia
Stock
Exchange
Bond Series IB Rp1,250,000,000,000 20 April 19 April Fully paid PT Bank PT 2010: idAA+
Year 2007 10.60% 2007 2010 Mega Tbk. Pemeringkat 2011: id AA+
Code: Efek 2012: id AA+
BDMN01B Indonesia 2013: id AA+
Indonesia
Stock
Exchange
Bond Series IIA Rp1,879,000,000,000 10 9 Fully paid PT Bank PT 2010: idAA+
Year 2010 Code: 8.75% December December Mandiri Pemeringkat 2011: id AA+
BDMN02A 2010 2013 (Persero) Efek 2012: id AA+
Indonesia Stock Tbk. Indonesia 2013: id AA+
Exchange 2014:idAAA
2015:idAAA
Bond Series IIB Rp921,000,000,000 10 9 Fully paid PT Bank PT 2010: idAA+
Year 2010 Code: 9% December December Mandiri Pemeringkat 2011: id AA+
BDMN02B 2010 2013 (Persero) Efek 2012: id AA+
Indonesia Stock Tbk. Indonesia 2013: id AA+
Exchange 2014:idAAA
2015:idAAA
MTN I Bank Rp500,000,000,000 26 February 6 March Fully paid PT Bank PT 2019: idAAA
Danamon Year 8.15% 2019 2020 Rakyat Pemeringkat
2019 Kode: Indonesia Efek
BDMN01XXMF Tbk. Indonesia
Bonds Series IA Rp1,148,000,000,000 24 May 4 June Fully paid PT Bank PT Fitch 2019: AAA(idn)
Year 2019 Code: 7.55% 2019 2020 Rakyat Rating
BDMN01ACN1 Indonesia Indonesia
Indonesia Stock Tbk.
Exchange
Bonds Series IB Rp852,000,000,000 24 May 24 May Outstanding PT Bank PT Fitch 2020: AAA(idn)
Year 2019 Code: 8.55% 2019 2022 Rakyat Rating
BDMN01BCN1 Indonesia Indonesia
Indonesia Stock Tbk.
Exchange
87
CORPORATE GROUP
STRUCTURE
PT Adira PT Adira
Dinamika Multi Quantum Multi
Finance Tbk. Finance*
PT Bank Woori
PT Bank PT Zurich
Saudara Indonesia
Chinatrust Asuransi Others
1906 Tbk. (d/h
Indonesia Indonesia Tbk
PT Bank Woori
Indonesia)
SUBSIDIARIES Affiliated Companies
88
03 COMPANY PROFILE
Corporate Group Structure
SUBSIDIARIES
Company Name PT Adira Dinamika Multi Finance Tbk (Adira Finance)
Core Business Financing
Company Profile With the vision of “Creating Shared Value to Improve Prosperity,” Adira Finance
has a mission “To provide a variety of financial solutions according to the needs of
each customer through synergy with the ecosystem.” In accordance with “Sahabat
Setia Selamanya” logo and tagline, Adira Finance commits to build health long-
term relationships with consumers and business partners that we believe will lead
to continued sustainable performance. This commitment drives Adira Finance
to serve our consumers in every aspect of their life, in order to build long-term
relationship with our customers which is named “customer for life”. Adira Finance
strives to position itself for customers as friend that can work together and provides
solutions with our concept of “Sahabat Adira.” In Adira Finance’s philosophy, the
concept of “Sahabat” has a very deep meaning, namely the personality values
that Adira Finance reflects to its customers, Flexible, Transparent, Innovative, and
Synergistic. Adira Finance’s core focus is to provide various financing solutions to
our customers, including motorcycles and cars, both new and used. Adira Finance
also provides durables financing and multipurpose loans. In addition, Adira Finance
provides financing of multiple motor vehicle brands such as Honda, Toyota, Mitsubishi
and other brands. This provides flexibility for the Company in accepting financing
applications from any brand.
The main products and services offered by Adira Finance includes investment
financing, work capital financing, multipurpose financing, other business activities, as
well as operating lease and sharia financing based on the laws and regulations of the
Financial Services Authority.
Shareholding 92.07%
Establishment Date November 13, 1990
Operational Status Operating
Total Assets (Rp Billion) 23,726
Address Milenium Centennial Center Lantai 53, 56-61
Jl. Jendral Sudirman Kav. 25, Jakarta
Phone: (+62 21) 3973 3232, 3973 3322
Fax: (+62 21) 3973 4949
E-mail: [email protected]
Key Management Board of Commissioners Board of Directors
President Commissioner: Yasushi Itagaki President Director: Hafid Hadeli
Independent Commissioner: Krisna Wijaya Director: Ho Lioeng Min
Independent Commissioner: Manggi Taruna Habir Director: I Dewa Made Susila
Commissioner: Muliadi Rahardja Director: Swandajani Gunadi
Commissioner: Eng Heng Nee Philip Director: Niko Kurniawan Bonggowarsito
Commissioner: Congsin Congcar Director: Harry Latif
Director: Jin Yoshida
Affiliated Companies
Company Name Business Activity Ownership (%)
PT Zurich Asuransi Indonesia Tbk. Insurance 19.81 %
PT Bank Woori Saudara Indonesia 1906 Tbk. (d/h PT Bank Woori Indonesia) Banking 2.12%
PT Bank Chinatrust Indonesia Banking 1.00%
Other Joint Ventura 0.24%-4.21%
Telecommunication
89
PUBLIC ACCOUNTANT &

PUBLIC ACCOUNTANT FIRM
PUBLIC ACCOUNTANT FIRM
KAP Imelda & Rekan (member firm of Deloitte Touche Tohmatsu Limited)
The Plaza Office Tower 32nd Floor.
Jl M.H. Thamrin kav 28-30 Jakarta 10350
Tel: +62 21 5081 8000 Fax: +62 21 2992 8200/2992 8300
Website: www.deloitte.com/id
CAPITAL MARKETS SUPPORTING

INSTITUTIONS & PROFESSIONALS
SHARES TRADING AND LISTING PT Fitch Ratings Indonesia
DBS Bank Tower, Lantai 24, Suite 2403
PT Bursa Efek Indonesia
Jl. Prof. Dr. Satrio Kav. 3-5 Jakarta-Indonesia 12940
Indonesia Stock Exchange Building 1st Tower
Phone: (62-21) 29886800 | Fax.: (62-21) 29886822
Jl. Jend. Sudirman Kav. 52-53-Jakarta 12190 Indonesia
Website: www.fitchratings.com
Phone: (+62 21) 5150 515 | Fax.: (+62 21) 5154 153
E-mail: [email protected]
PT Pemeringkat Efek Indonesia (Pefindo)
Website: www.idx.co.id
Equity Tower Lantai 30
Sudirman Central Business District Lot 9
CUSTODIAN
Jl. Jenderal Sudirman Kav. 52-53 Jakarta 12190,
PT Kustodian Sentral Efek Indonesia
Indonesia
Indonesia Stock Exchange Building 1st Tower Lantai 5
Phone:+62 21 509 684 69 | Fax.:+62 21 509 684 68
Jl. Jend. Sudirman Kav. 52-53, Jakarta 12190 Indonesia
Website: www.pefindo.co.id
Phone: (+62 21) 5152 855 | Fax.: (+62 21) 5299 1199
Toll Free: 0800-186-5734
NOTARY
E-mail: [email protected] Website: www.ksei.co.id
Mala Mukti, S.H., LL.M.
SHARE REGISTRAR AXA Tower Lantai 27 #06
PT Adimitra Jasa Korpora Jl. Prof. Dr. Satrio Kav. 18 Jakarta 12940
Rukan Kirana Buotique Office Phone: (021) 3005 6229 | Fax.: (021) 3005 6373
Jl Kirana Avenue III Blok F3 No 5 E-mail: [email protected]
Kelapa Gading-Jakarta Utara 14250
Phone: +6221 29745222 | Fax.: +6221 29289961 TRUSTEE
E-mail: [email protected] PT Bank Rakyat Indonesia (Persero) Tbk.
Divisi Investment Services
Bagian Trust & Corporate Services
PERUSAHAAN PEMERINGKAT
Gedung BRI II, Lantai 30
Moody‘s Singapore Pte Ltd Pte Ltd
Jl. Jend.Sudirman Kav.44-46
50 Raffles Place #23-06
Jakarta 10210-Indonesia
Singapore Land Tower 048623
Phone. (021) 575 8144 | Fax: (021) 575 2360
Phone: (65) 6398 8300 | Fax.: (65) 6398 8301
Website: www.moodys.com
90
PT Bank Danamon Indonesia, Tbk. Enabling Customers Through
2021 Annual Report
03 COMPANY PROFILE
AWARDS &
CERTIFICATION 2021
The Best
The 3rd Best Bank Buku IV
2020 ELITE QUALITY
RECOGNITION AWARD
The 3rd Best Public Company -

Companies
Bank Buku IV J. P. Morgan To Work For
by Economic Review, Indonesia - Asia Outstanding
Achievement of
2021
Institute, PPPI, dan Ideku Group Best-in-Class MT202 by The HR Asia
STP Rate 99.97%
2nd The Best CSR of The Year

2021, Kategori Public
Company Bank Buku 4
Indonesia Corporate Social
Responsibility Award (ICSRA) IV 2021
by Economic Review
Best Cash Management Bank in The Asset Triple A Awards. Best Hedging
Indonesia & Best Virtual Account and Solution Category: FX, Indonesia
The Asset Triple A Awards
Initiative, Application, or Programme by The Asset
- Virtual Account API
Transaction Finance Awards 2021
by The Asian Banker Kofax Customer Excellence Awards,
Innovation Excellence Category
Kofax Customer Excellence Awards
by Kofax
Property Supporting Business; sub

kategori Perbankan dengan title:
The Progressive Mortgage Bank
with Accelerating Partnership
Media Properti Indonesia
by Majalah Tempo
91
The Best Financial

Performance Bank
Category:
Conventional Assets
Bank > 100 Trillion
Tempo Financial Award 2021
by Majalah Tempo
Very Good Rank for Managing

Transformation Category
Indonesia HR Excellence 2021
by SWA Magazine
Program Terbaik kategori Respon
Kebencanaan.
Award from MUFG
Penerapan K3 dan Protokol
Initiatif Project Impact, Crisis Command
Kesehatan Covid-19 Terbaik kategori
Center (CCC) Covid-19, Syariah Leasing
Perkantoran Swasta
Mitra Bakti Husada (CSR Awards) 2021 (IMBT) for Siloam Hospital, Credit
by Kementrian Kesehatan RI rescrontruction program related to
COVID-19 Adira Finance
MUFG President's Awards 2020
by MUFG
1st Rank Best Overall • The Best Talent Management

Category: Bank BUKU 4 Strategy 2021 in Banking Industry
Infobank Satisfaction, • The Human Capital Director of
Loyalty, Engagement 2021 the Year 2021
4th Infobank Satisfaction,
Loyalty, Engagement 2021 • The Best Human Capital Future
by Infobank Leader / Millenial of the Year
Human Capital & Performance Award
Stellar Workplace Recognition in Best Talent 2nd the Best Indonesia Human Capital
Employee Commitment & Acquisition team 2021 | Platinum A - Very Excellent
Satisfaction LinkedIn Talent Awards Category Public Company Bank BUKU 4
Stellar Workplace Award 2021 2021 Indonesia Human Capital Award VII - 2021
by ML Performance Consulting & Kontan by Linkedin by Economic Review
92
03 COMPANY PROFILE
INFORMATION ON
CORPORATE WEBSITE
In compliance with OJK Regulation No. 8/POJK.04/2015 on Websites of Issuers or Listed Companies, Danamon
has established the corporate website that comprises four major areas of information:
a. General information on Issuer or Listed Company;

b. Information for Shareholders or Investors;
c. Information on Corporate Governance; and
d. Information on Corporate Social Responsibility.
Danamon’s corporate website features two language versions, Indonesian and English. The corporate website
also features additional information that serves to expand knowledge on issues related to Danamon’s businesses.
93
#04
Management
Information On
Discussion
and Analysis
94
04 Management
Discussion and Analysis
Information On
95
MACROECONOMIC
Macroeconomic Overview
OVERVIEW
2021 was a year of optimism on the economic recovery. Such appropriate responses on fiscal and monetary
Progressive vaccination across the globe supported the sides helped maintain banking sector stability, shown by
economic reopening worldwide. Economic recovery Liquid Assets to Third Party Fund (TPF) ratio of around
sustained, especially on the demand-side, whilst supply- 35% and Capital Adequacy Ratio (CAR) at around 25%.
side faced few constraints amid the uncertainties of Intermediary function also improved, as credit grew
covid mutation. Therefore, commodity prices surged by 5.2% yoy in 2021, in-line with the declining trend of
started in the second half of 2021. borrowing cost as well as domestic demand recovery.
Commodity windfall benefitted the commodity-driven In 2022, Indonesia’s economy is projected to grow
economies, including Indonesia. Indonesia’s trade at 5.1% yoy. The engine of growth is expected from
surplus increased to USD 35 Billion in 2021, from USD domestic demand. On financial sector, Rupiah’s volatility
22 Billion in the previous year. The surpluses provided is projected to rise amid the uncertainties of monetary
strength for Rupiah’s stability. Rupiah’s volatility policy normalization across the globe. The recovery on
throughout 2021 was around 4%, below its long-term domestic demand would also boost import which will
average of 6%. However, Rupiah depreciated to Rp14,263/ add pressure on Rupiah’s volatility this year. However,
USD at the end of 2021, from Rp 14,050/USD at the end Indonesia’s financial sector stability will remain,
of 2020. The depreciation was due to the uncertainties considering the abundant domestic liquidity as well as
coming from omicron variant as well as the acceleration the narrow current account deficit.
of US monetary policy normalization.
The improvement on export performance and domestic

demand recovery helped Indonesia’s economy to grow
by 3.7% yoy in 2021. The accommodative fiscal and
monetary policy stance also supported Indonesia’s
economic growth last year. Bank Indonesia kept
its policy rate low at 3.5% throughout the year, and
committed to purchase government bonds in primary
market under the joint-agreement III. The measure was
aimed to ensure sufficient financing on fiscal stimulus
to cushion delta outbreak impact on the economy. BI
purchased Rp358 trillion worth of government bonds in
primary market, out of Rp659 trillion National Economic
Recovery Program (PEN) realization in 2021.
96
04 Management
BANKING INDUSTRY Banking Industry Overview
OVERVIEW
Indonesian Banking Industry Development in On the other hand, Third-party funds (TPF) was up by
2021 10.37% to Rp7,323.36 trillion in 2021, resulting in improving
banking liquidity. A higher TPF growth compared to the
The bank’s intermediary function as a credit channel increase in credit caused the Loan-to-Deposit Ratio
showed improving performance in line with positive (LDR) to decrease to 77.90% in 2021 from 82.54% in the
credit growth in 2021. Sustained by improved growth previous year.
of Indonesia’s Gross Domestic Product (GDP) of 3.69%
(yoy) in 2021, loans disbursed by the banking sector grew Meanwhile, during the ongoing COVID-19 pandemic,
by 4.31% (yoy), reaching Rp5,754.72 triliun. This credit banking industry’s capital was still well maintained with
growth was better than the bank’s loan disbursements a Capital Adequacy Ratio (CAR) of 25.67% in 2021. This
performance in 2020, which contracted by 2.40% (yoy) was higher than the capital position of 23.89% in the
to Rp5,547.62 trillion. In line with the improved loan previous year.
disbursements performance, the Indonesian banking
industry was able to book total assets of Rp9,913.67 in Despite the still relatively low loan demand, the banking
2021, a growth of 9.50% compared to the previous year. sector was able to maintain its profitability with a
Return on Assets (ROA) ratio of 1.91% as of December
Bank loans for productive purpose went up by 4.97% 2021, from 1.59% in the previous year. The performance
(yoy) to Rp4,101.41 triliun. Of this productive loans, about of this ratio was supported by improving income before
62.99% was working capital loans and the remaining tax expenses of Rp180,00 trillion, higher than its position
37.01% was disbursed to investment loans. Meanwhile, in December 2020 of Rp100.15 trillion. Meanwhile, in line
loans for non-productive (Consumption) purposes also with the declining BOPO ratio from 86.58% to 82.97% as
booked a growth of 4.11% (yoy) with a contribution to toal of December 2021, NIM ratio rose to 4.51% in 2021 from
loans of 28.11%. 4.45% in the previous year.
(Rp Trillion)
25% 10,000
20% 8,000
Loans
TPF 15% 12.5% 6,000
Assets 10%
4,000
Loans Growth 6.80%
5% 8.3% 4.31%
(LHS)
2,000
0%
-5% 2.40%
0
2017 2018 2019 2020 2021
Source: Financial Services Authority (OJK)
97
Danamon’s Position in the Banking Industry in Indonesia

In 2021, Danamon grew its profit by 56% helped by its strategy execution in
granular funding and prudent asset management. The result is higher than
overall industry profitability growth of 32%.
Consolidated loan declined by 4% YoY due to SME and auto loans. However
Danamon’s Enterprise Banking segment growth of 6% was higher than
those of the industry.
In line with the loan decline, Danamon’s third party funding also declined
by 2% YoY, primarily in Time Deposit. However the Bank’s CASA grew by 11%
YoY as part of our focus on granular funding through digital and institutional
approach. This is in line with industry CASA growth of 15%.
98
04 Management
STRATEGIC Strategic Review
REVIEW
2021 Strategic Focus branches can provide help for the more complex
Amidst the prolonged COVID-19 pandemic in 2021, ones. Collaboration with partners is a key strategy
Bank Danamon was able to show its operational in Consumer Banking to create differentiations
resilience and the effectiveness of its strategies. and relevant value propositions. Leveraging MUFG
The Bank consistently implemented its strategies of relationships, Danamon worked with various
prudent lending, granular funding via an institutional Japanese developers to serve as one of the preferred
approach, and fee income based on unique value mortgage providers in their real estate development
propositions supported by MUFG collaborations. projects. In 2021, Danamon also added partnerships
with asset management companies in order to
Bank Danamon also consistently invested and offer more comprehensive wealth management
innovated in digital marketing, and human capital products. In November 2021, Danamon launched
with promising early results. At the same time, the only credit card that co-brands with Grab in
Danamon prioritized employee safety with strict Indonesia with generation Z and millenial target
COVID-19 protocols and facilities, investment segments in mind.
in infrastructure to support Work From Home
alternatives, vaccination programs covering all Bank Danamon, MUFG, and its partner banks’
employees and families, as well as comprehensive customers were connected via a Business Matching
support for those who were infected by the virus. event. Their customers were also able to attend
a jointly held Indonesia Summit, a high-profile
Bank Danamon also executed continuous innovation economic forecast event, earlier in the year.
in digital banking and transaction banking. The Bank
launched D-Bank PRO in May 2021, a new mobile Danamon’s subsidiary, Adira Finance, apart from
banking application with enriched features and entering the high-end cars segment, also regained
omnichannel experiences, Danamon Syariah also market share in its traditional motorcycle and
introduced digital Waqf in 2021 to increase the lower-end car segments. Adira Finance also
convenience for customers to make their charitable leveraged its Adiraku digital application to create
contributions. Transaction Banking continued to more engagement with its current and potential
enhance its Danamon Cash Connect, as well as customers. Differentiated features in Adiraku include
to provide customized solutions to help business reward points and redemptions for transactions,
customers in cash management. integration with marketplaces for new and used car,
electronics and furnitures, and pre-approved credit
Bank Danamon’s SME Banking innovated the way limits for eligible customers.
it served customers to provide more focused and
tailored services. Smaller SME loans are served Bank Danamon continuously invest in future leaders
by Branch Network teams with simpler processes, through Danamon’s Bankers Trainee program during
while the larger SME loans with more complex needs the pandemic. For existing talents, the Bank has set
are served by a specialized SME-focused team. The up a talent council, prioritized internal mobility and
team also continuously reviewed and refined the explored collaboration with MUFG and partner banks
end-to-end loan process in order to improve turn- on training. In 2021, Danamon also introduced the
around time. Employee Value Proposition to realize our mission
to be an employer of choice with ”Let’s GROW”
Consumer Banking continued its segmentation program (Global Exposure, Rise to Excellence, Own
focus with differentiated value propositions for Your Future, Wellness, and Well-Being).
Danamon Privilege, Danamon Optimal (Emerging
Affluent), and Middle Market customers. Simpler
transactions are being conducted digitally, while our
99
BUSINESS PROSPECTS
Business Prospects
2022 Macroeconomics economic growth to 3.7% YoY, compared to the

growth in 2020 which contracted by 2.03%.
Government of Indonesia (GoI) has implemented
various COVID-19 measures, up to this point. Meanwhile, the International Monetary Fund
Starting from accelerating vaccination program, (IMF), in its latest World Economic Outlook
increasing the tracing and testing numbers, to report published in October 2021, forecast
imposing mobility restrictions. These measures that global economic growth will slow to
have been proven to curb COVID-19 cases in 4.9% yoy in 2022 compared to the 5.9% in
Indonesia. On top of that, GoI has disbursed 2021. The projection for a slowdown in world
stimulus through Pemulihan Ekonomi Nasional economic growth mainly applies to advanced
(PEN) program, which was divided into health countries because of supply chain disruptions
stimulus, social protection, MSMEs stimulus, and uncontrolled pandemic conditions in low-
and business incentives. The program is aimed income developing countries.
to cushion the economic and health impact of
COVID-19 outbreak. As one of the leading developing countries
in the world, Indonesia is in a better position
The realization of PEN budget was Rp575.8 because of an acceleration of a vaccination
trilion in 2020, and estimated to be around program intended to better control the
Rp658.6 trilion in 2021. For this year, GoI pandemic. Moreover, the upward trend of
allocates a total PEN budget of Rp451trilion, various world commodity prices in 2021
with the main focus on health spending, social contributed positively to the Indonesian
security, and fiscal incentives. economy, especially by boosting trade surplus.
Based on these developments, Bank Danamon
GoI’s commitment and hard work to manage projects that Indonesia’s economy will grow
the pandemic and cushion its impact on the stronger by 5.1% yoy in 2022, with economic
economy, have successfully supported domestic indicators as follows:
Indicators 2021 2022

Economic Growth (%,yoy) 3.4 5.1
Inflation (%,yoy) 1.87 4.0
Exchange Rate (Rp/US$) 14,296 14,511
10 Year SUN Interest Rate (%) 6.35 7.20
Indonesian Crude Oil Price (US$/barrel) 68 63
Crude Oil Lifting (thousand barrels per day) 662 703
Lifting Gas (thousand barrels of oil equivalent per day) 982 1,036
Source: Danamon, Ministry of Finance, *2021 projection
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04 Management
Business Prospects
Bank Danamon’s view on the improving • By utilizing the large customer-base

economy in 2022 is in-line with that of Bank ecosystem collectively owned by Danamon,
Indonesia, which projects Indonesia’s economic ADMF and MUFG, Danamon will expand on
growth to 4.7% - 5.5% in 2022. The main drivers its collaboration initiatives among the three
are the sustainable improvement of the global entities. The Bank will further leverage the
economy, which will result on stronger exports, branch presence for various segments
as well as the improving domestic demand including ADMF automotive loans. The Bank
on the back of higher consumption and will explore to extend banking relationship
investment. This will be supported by 3rd dose in SME and Enterprise banking segments
vaccination, economic reopening and stimulus with automotive dealers that already have
measures. strong relationships with ADMF. Danamon
will also focus on deepening its relationships
Bank Indonesia is committed to maintain with existing collaboration customers.
financial system stability with the projection • Accelerating adoption of the digitalization
of higher credit growth in 2022. Credit and of banking services. For this purpose,
Third Party Fund growth are projected at the Bank Danamon has prepared processes
range of 6.0%-8.0% yoy and 7.0% - 9.0% yoy, and capacities to perform a faster
respectively. The credit growth will be backed digital transformation, more robust
by a high CAR and well-maintained non- digital partnerships and an omnichannel
performing loan (NPL), as well as the on-going experience.
credit restructuring program from Indonesian • Enhancing marketing and branding to
Financial Services Authority (OJK). support Danamon’s growth strategy.
Through 65 years of operating history, the
Demand for loans is expected to improve Danamon brand is already well known
due to increase in consumption, investments as one of the largest conventional banks
and exports in line with the gradual recovery in Indonesia. However, we aim to further
of economic activities that were hurt by the increase Danamon’s brand presence to be
COVID-19 pandemic. On the supply side, an recognized as a unique hybrid bank with
increase in banking loans was supported customer centric product solutions, strong
by ample liquidity and declining risk local network, complemented by global
perceptions, apart from the accommodative capabilities as part of MUFG Group.
macroprudential policies.
Strategies for 2022
Responding to the opportunities and challenges

in 2022, Danamon will continue to execute its
strategies with the following key focus:
101
BUSINESS SEGMENT
Business Segment Operational Review
OPERATIONAL REVIEW
Customer
Line of Business Line of Business
Segmentation
Corporate,
Transaction Enterprise
Financial
Banking Banking and Affluent Privilege
Institution, and
Financial Segment Banking
Commercial Treasury and
Institution
Segment Capital Market
Treasury and
Capital Market
Sharia
Banking
SME Small and Consumer
Middle Income
Sharia Banking Medium Business Banking
Banking
Adira
Finance
Micro-Small Entrepreneurs
Micro
Micro Banking Self-Employed
Banking
Mass Market
Business Individual
Segment Segment
In 2021, Danamon continued its strategy of prudent loan growth through an ecosystem approach, sustained CASA
growth through an institutional approach and increased fee income through a unique value proposition. In addition,
collaboration with MUFG enabled Danamon to enter the Japanese corporate and multinational customer markets
through distributor financing, cash management, mortgage and payroll accounts services.
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04 Management
ENTERPRISE
BANKING
In the midst of pandemic challenges, Enterprise Banking loans portfolio
successfully grew by 6% in 2021 compared to the previous year’s position.
Enterprise Banking serves the Wholesale and Financial 2021 PERFORMANCE

Institution segments. It provides comprehensive Despite the unstable macroeconomic conditions
financial solutions, such as lending, cash management, throughout 2021, Enterprise Banking loans portfolio
trade finance, and treasury services. By understanding still grew by 6% compared to the same period in the
and serving client’s needs, Enterprise Banking aspires to previous year.
make Danamon the preferred transactional bank.
2022 STRATEGIES AND INITIATIVES
PRODUCTS AND SERVICES
In 2022, Enterprise Banking will continue to implement
Enterprise Banking provides the following products and the following strategies:
services: • Deepening relationships with our existing customers,
• Working Capital Loans (Trade Finance & Financial • Acquiring new customers in our target market and
Supply Chain); throughout the entire value chain ecosystem of
• Investment Loans; existing customers,
• Cash Management (Payment, Collections and • Continuing collaboration with MUFG Group to
Liquidity Management); acquire customers from multinational companies
• Foreign Exchange; and their value chains,
• Custody. • Improving our collaboration with MUFG to provide
value-added products and services, such as Debt
2021 STRATEGIES AND INITIATIVES Capital Market and Global Business Matching.
The year 2021 remained a challenging year for the • Consistently maintaining third-party funds by
banking industry because of the ongoing COVID-19 offering comprehensive cash management solutions
pandemic. This unstable macroeconomic situation had supported by the use of e-channels and digital
a significant impact on economic conditions and loans solutions tailored to customer needs,
growth. • Investing in human capital and improving employees’
skills through training and project assignments,
Enterprise Banking consistently focuses on deepening • Continuing efforts to attract new talent and retaining
relationships with existing customers, as well as on existing talent.
expanding its portfolio with new customer acquisitions
and on optimizing the entire value chain ecosystem, by
improving our collaboration with MUFG Group.
Enterprise Banking is also committed to investing

in human capital by attracting and retaining the best
talent, implementing extensive training programs, and
encouraging performance-based organizations.
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TREASURY &
CAPITAL MARKET
Synergy and collaboration with all business lines as well as collaboration with the
parent entity (MUFG) are key success factors for Treasury & Capital Market in
managing investment needs and hedging instruments.
Treasury & Capital Market (TCM) continues to focus on government bonds. This is also geared toward increasing fee-
efficient and prudent balance sheet management. As based income for Danamon. TCM also offers new hedging
a product partner of Danamon’s lines of business, TCM instruments as a solution for customers.
provides solutions for customers that require the hedging
and investment products. TCM also supports regulators in TCM continually collaborates with the Line of Business
improving and strengthening financial markets. (LoB) to support customers who need investment products
and hedging instruments to manage their exposure. TCM
TCM is responsible for managing the Bank’s liquidity risk will also continue to collaborate with the MUFG Group to
by ensuring liquidity requirements are always fulfilled, tap business opportunities with Japanese companies and
thereby supporting business expansion while adhering to multinational corporation value chains.
prudent principles. TCM is also tasked with managing the
interest rate risk inherent within the Bank’s balance sheet. Danamon will continue to innovate and develop in
providing services to the customers in line with the
PRODUCTS AND SERVICES development of money market in Indonesia.
TCM offers a wide range of products and services
geared to meet the needs of customers, as well as 2021 PERFORMANCE
performing trading activities. Products offered include In 2021, TCM also offered some new Structured
Foreign Exchange (including FX Today, FX Tomorrow, FX Products, such as Dual Currency Investments for retail
Spot, FX Forward, FX Swap, Domestic Non-Deliverable customers in the third quarter and Call Spread Options
Forward), Interest Rate Swap and Cross Currency Swap, for corporate customers in the fourth quarter.
Structured Products (Dual Currency Investment and
Call Spread Option), Marketable Securities (Government TCM also supported the government’s funding plan by
Bonds under both Conventional and Sharia schemes, as actively joining the auction activities for newly-issued
well as Corporate Bonds), Money Market (Interbank & IDR and Foreign Currency Government Bonds in 2021.
Bank Indonesia instruments), and Repo/Reverse Repo.
2022 STRATEGIES AND INITIATIVES
Danamon was chosen by Bank Indonesia to become In 2022, TCM will continue to implement the following
the Appointed Cross-Currency Dealer Bank (ACCD Bank) strategies:
to conduct Local Currency Settlements (LCS) for THB/ 1. Improving the efficiency of balance sheet
IDR and CNY/IDR currency exchanges in 2021. With this management strategies with prudential principles.
service, the customers enjoy more competitive FX rates, 2. Collaborating with Line of Business (LoB) to support
as well as faster and more efficient remittances of funds customers who need investment products and
to the ACCD Bank’s partner countries. hedging instruments to manage their exposure. TCM
will also continue to collaborate with the MUFG
2021 STRATEGIES AND INITIATIVES Group to tap more business opportunities with
In 2021, TCM continuously focused on efficient balance sheet Japanese companies and multinational corporation
management strategy in Capital Management, Fair Value value chains.
through Other Comprehensive Income (FVOCI) portfolio 3. Developing additional hedging instruments for
management, Contingency Funding Plan, and Enhanced customers, such as Par Forward.
Treasury System and Asset & Liability Management (ALM) 4. Developing the Bank’s investment services, such as
System. FX Online, and Retail Bonds Online.
5. Supporting Bank Indonesia’s initiatives in line with
Trading activity in TCM supported Treasury Sales by providing the 2025 Money Market Development Blueprint.
liquidity and best prices for customers. TCM offers alternative
investments for retail customers, such as corporate and
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04 Management
TRANSACTION BANKING
(CASH MANAGEMENT, TRADE FINANCE & FINANCIAL SUPPLY CHAIN)
Amidst the pandemic challenges, the product development and digitization of

Cash Management, Trade Finance and Financial Supply Chain transactions is
able to increase efficiency of business activities apart from meeting customer
demands.
Transaction Banking continues to develop products • Financial Supply Chain (FSC)

that leverage digital technology innovations, focusing Danamon Financial Supply Chain facilitates
on financial supply chain management, to enhance the transaction cycle between distributors and
customer experience and to deliver excellent services principals, not only by extending working capital
to customers. facilities for distributors and payments, but also by
providing comprehensive reports that can add value
Danamon’s Transaction Banking offers a range of to the relationships and continuity in the business
products that cater to the needs of business segments, ecosystem.
such as corporate, commercial, and SME clients.
Through offering cash management, trade finance, STRATEGIES AND INITIATIVES
and financial supply chain services, Danamon can
accommodate customers with suitable, effective, and • Digital Banking Services
competitive transaction services. a. Continuous enhancement of Danamon Cash
Connect provides more features with better
The continuous advancement of the internet banking “User Experiences” so that customers are able
platform allows customers to enjoy the online services to do business transactions online and real-
of Cash Management, Trade Finance, and Financial time, such as balance checking, fund transfers,
Supply Chain, which improve business efficiency. mass transfers, virtual account services, payroll
services, tax payments, Bill payments, treasury
PRODUCTS AND SERVICES rates etc. These services are available via
Transaction Banking offers the following products and Website or Mobile Banking.
services: b. API Central provides real-time connection
services for Funds Transfer (Payment), Virtual
• Cash Management Accounts (collection) and Financial Supply Chain.
An integrated banking solution designed to assist c. A mobile application for the Financial Supply
customers to manage cash flow, liquidity, and Chain (D-BisMart) provides solutions for Anchors
to execute daily transactions efficiently in order in initiating and developing digitalization of their
to generate optimal efficiency. Danamon’s Cash business activities with their ecosystem of
Management allows customers to more effectively distributors in SME to retailers segment.
develop and execute business strategies.
• MUFG Collaboration
• Trade Finance & Services Through joint collaboration with MUFG, Transaction
Danamon Trade Finance services accommodate Banking continuously forms new partnerships
customers to execute trade transactions and with business principals and distributors from the
benefit from working capital financing including automotive, FMCG, and pharmaceutical industries.
both international trade (import and export) and
domestic trade.
105
Treasury & Capital Market
2022 STRATEGIES AND INITIATIVES 3. Becoming an ACCD (Appointed Cross Currency

Dealer) Bank to facilitate Danamon’s customers in
Transaction Banking will continue to collaborate with using domestic currencies of the counterparties as
MUFG Bank in the areas of Cash Management, Trade the payment settlement.
Finance, and Financial Supply Chain. 4. API Central for Danamon’s customers to process
remittance transactions API new features, such as
1. Enhancement of Domestic Network Service with API Direct Debit, API BI-Fast, API for Tax Payment etc.
MUFG Bank in the area of cash withdrawals and 5. Expand business partnership with Financial
deposits and utilization of other digital services such Technology companies.
as QRIS. 6. Develop integrated Financial Supply Chain solutions
2. Improvements to the Danamon Cash Connect (DCC) to provide more comprehensive reporting and
features such as Bill Payment, Online Transfer, Trade transactions capabilities.
loan, Time Deposit and a complete suite of FSC
platform catering both Distributors and Suppliers,
including working capital facilities.
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04 Management
SMALL MEDIUM Small Medium Enterprise Banking
ENTERPRISE BANKING
Danamon’s SME banking focuses on small and medium enterprises with total loans
disbursed of up to Rp30 billion and an annual sales turnover of up to Rp100 billion.
Danamon’s Small Medium Enterprise (SME) Banking separate the management of high-risk accounts and
offers a range of comprehensive financial solutions that problematic accounts, which has shown results.
cover productive business loans, financing, transactions,
and protection (bancassurance). In parallel, Danamon also continues to proactively
develop the means to identify high-risk accounts so
PRODUCTS AND SERVICES as to handle them quickly and monitor them properly.
Improvements in the training curriculum of Danamon
Danamon SME Banking offers the following SME Banking have also contributed to increasing front-
comprehensive financial solutions: line capacity. In addition, an end-to-end review of the
sales culture of Danamon SME Banking has also begun
• Productive business loans to produce improvements in the areas of process
Working Capital (Overdraft Facilities and Demand Loans), discipline and credit monitoring.
and Investment Financing (KAB-Term Instalment Loans),
as well as Financial Supply Chain financing, the Rural Bank In 2021, the renewal of the SME credit policy and
(BPR) Loans, and Employee Cooperative Loans. continuous improvement of credit initiation processes,
while maintaining prudential aspects, are expected to
• Funding support sustainable business growth going forward.
Deposit and transactional accounts for convenience
operational transactions such as Current Accounts, 2021 PERFORMANCE
Saving Accounts, and Term Deposits.
• Transactions • Successfully managed the COVID-19 crisis by
Offering convenience transactions anywhere, restructuring portfolios sustainably with schemes
anytime through Danamon’s network of branches tailored to customer needs.
across Indonesia and through digital channels, • Increased the growth of loan disbursement in a
such as internet banking, mobile banking, and cash sustainable manner on a monthly basis.
management. • Continuously grew the CASA portfolio with a relatively
low CoF through granular CASA and transactions.
• Bancassurance • Sustainably grew the number of customers to more
Offering a range of products to provide protection to than 80,000.
business owners and their assets. • Achieved sustainable operating income by increasing
revenue, through increasing both interest income
2021 STRATEGIES AND INITIATIVES and transactional non-interest income, as well as by
managing operational costs.
In 2021, Danamon SME Banking launched its strategic • Increased product holding per customer, especially
initiative, namely the SME business line re-segmentation from individual SME businesses.
focusing on providing comprehensive financial solutions
to customers with approaches tailored to business
segments of up to Rp 5 billion and above Rp 5 billion.
Continuing the previous year’s initiatives and strategies,

in addition to business re-segmentation, Danamon’s
2021 focus was accompanied by consistent efforts to
improve portfolio quality and increase loan payment
capacities. One of the initiatives undertaken was to
107
2022 STRATEGIES DAN INITIATIVES • Utilizing digital channels and electronic media for
transactions and registration
The Indonesian economy is projected to improve with The COVID-19 pandemic has emphasized the
the gradual improvement of the COVID-19 situation. importance of rapid adoption to digital technology
During this period of economic recovery, Danamon SME and electronic media, of which most customers are
Banking will focus on the growth of credit and funding adopting alternative digital channels to access banking
business, as well as the sustainability of portfolio services and conduct transactions wherever they are.
restructuring, as follows: Danamon SME Banking will collaborate with fintech-
based loan providers and establish a digital community
• Continuing the SME lending growth platform, including to capture new customers through
Continuing the previous year’s achievements, Danamon digital channels to provide financial market literacy,
SME will continue to disburse loans to small and and to facilitate collaboration between customer
medium-sized enterprises in order to enlarge its SME businesses. The implementation of technology, such as
loan market share. With the strengthening of credit the Loan Origination System and OCR, is predicted to
management capabilities and supporting technology, be able to contribute to improving the effectiveness of
Danamon SME Banking will enlarge its focus to the credit process for the SME segment.
debtor segment with higher credit limit requirements.
• Increasing revenue, especially from transactional

fee-based income
To improve the operational efficiency ratio, Danamon
will strengthen relationships with customers to better
identify customer needs outside of traditional funding
and lending services. Through this action, Danamon
can provide better services while increasing revenue by
generating higher fee-based income. One of the pillars
of this initiative is to provide more FX and Trade Finance
facilities for customers whose business activities are
related to international trade.
• Focusing on loans portfolio management

In order to enhance portfolio management, especially
for customers with higher credit limits, the Bank plans
to revamp the sales model and enhance the SME head
office organization. The result of these initiatives will
continue to be monitored for effectiveness and impact
on credit portfolio management. In addition, the Bank
will also continue to enhance its credit scoring.
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04 Management
CONSUMER BANKING Consumer Banking
Consumer Banking has a strong aspiration to provide relevant and innovative financial
solutions and services to meet customer needs through various channels in order to compete
in challenging situations against dynamic competition.
In 2021, the COVID-19 pandemic remained a key Despite the pandemic, customer acquisitions were
challenge for the Indonesian economy. It has limited higher in 2021 compared to in 2020 and in previous years
economic growth and impacted society and many prior to the pandemic. Consumer Banking leveraged
industries, including consumer banking. digital channels to expand the customer base for more
seamless and convenient ways for customer to join the
Another challenge for Consumer Banking was fiercer bank and this is the answer to increasing competition,
competition coming from digital banking and financial especially competition from digital banks and Fintech.
technology (fintech), as these institutions provide
easy access to financial services and build their own Consumer Banking had strong traction in Wealth
ecosystems. Management by launching more products to increase
product selection for customers across all segments, to
To answer these challenges, Consumer Banking has, in accelerate penetration into the customer base, and to
a disciplined way, been implementing comprehensive simplify processes.
strategies focusing on segment value proposition covering
affluent and millennial clients, expanding the customer On credit cards, Danamon Consumer Banking launched
base, and strengthening customer engagement. the co-brand Danamon GRAB credit card to capture the
millennial segment and to improve its market share. On
PRODUCTS AND SERVICES mortgages, Danamon has accelerated its momentum by
improving productivity and its collaboration with MUFG.
Consumer Banking offers the following products and
services: STRATEGIES AND INITIATIVES
• Deposits • Continuing to focus on segmentation by
Tailored to meet the needs of market segments, strengthening proposition across all segments
our deposit products are saving accounts, checking by continuously fine-tuning the sales and service
accounts and time deposits. model and tailoring relevant products and benefits
• Loans to client needs.
Consumer Banking Loans offers a variety of products, • Expanding the customer base by accelerating digital
both secured (property mortgages) and unsecured channels, building API with strategic partners, and
(credit cards, personal loans). leveraging collaboration and ecosystems.
• Investment and Bancassurance • Innovating products, targeted offers and programs
For investment and bancassurance products, and partnerships with strategic partners to entice
Consumer Banking provides many products through customers, increasing active rates and usage.
partnerships with reputable third-party institutions • Accelerating funding strategies with programs
in Indonesia. To meet the needs of high net-worth for the affluent segment and building a payment
customers, Consumer Banking also provides ecosystem.
personalized and exclusive services. • Continuing Wealth Management traction through
more product variation, innovative programs, and
2021 STRATEGIES AND INITIATIVES process improvement.
In 2021, the focus of Consumer Banking was on • Improving the credit card business through the
consistently refining strategies involving segmentation, leveraging of a co-brand card, digital enablement,
acquisition, customer engagement, products, and and policy improvement.
processes. All these elements were supported by • Stepping up mortgages through aggressive
acceleration of digitalization and enhancement of acquisitions, retentions, and cross-sell initiatives.
collaboration.
109
SHARIA
BANKING
The Sharia Unit launched Digital Sharia On Boarding and digital cash waqf services
through social banking as an important milestone in the digital platform.
SHARIA BANKING INDUSTRY

account for Qurban), Danamon Lebih iB, Fleximax iB,
Based on OJK data, Indonesia’s sharia banking industry Dsave iB, Giro Bisa iB (checking account) and Time
grew at a higher rate than conventional banking in Deposit iB.
2021, as about 87% of the country’s approximately 237
million people are Muslims. The sharia banking industry • Financing
has proven to be able to continue to grow despite the Employee Cooperative Financing, Sharia Working
coronavirus pandemic. As of September 2021, sharia Capital Financing, Sharia Investment Financing, Sharia
banking industry was recorded at Rp631 trillion rose Leasing, Sharia Trade Financing, and Sharia Mortgage
significantly by 12.5% year-on-year, as the national Financing.
economy recovers.
• Bancassurance
Sharia market share had increased to 6.59% as of Prima Amanah Protection (PPA).
September 2021, indicating a tremendous opportunity
for the sharia industry to expand potentially. With the • Services
largest Muslim population in the world, Indonesia has Cash Management, Electronic Channel, Digital on
significant potential to develop the halal ecosystem for Boarding, Cash Waqf Recipient, Cash Waqf services
further sharia market growth. through Social Banking platform and Big Bill electricity
payment service.
DANAMON SHARIA BANKING 2021 PERFORMANCE

Sharia banking is Danamon’s business division that is Danamon Sharia assets grew by 17 %year on year by the
based on sharia principles. It is managed by Danamon end of 2021, faster than market growth, indicating that
Sharia Banking Unit (UUS). The vision of Danamon Sharia sharia products can be further improved to secure more
is to help millions of people to prosper under sharia significant growth.
principles.
• Sharia Financing Portfolio
Sharia banking serves all segments from consumers and In 2021, Danamon Sharia focused on the development
SMEs to corporations and financial institutions in order of Sharia Leasing Financing and Employee Cooperatives
to fulfil customer needs, supported by all Danamon Financing. Sharia financing by the end of 2021 grew by
infrastructure, technology and distribution channels. Rp7.8 trillion had increased by 12% year on year.
PRODUCTS AND SERVICES • Sharia Funding Portfolio

The development of unique digital-based products is At the end of 2021, deposits reached Rp 5 trillion. Low-
the key to the success of Danamon Sharia Banking, cost funds grew to Rp2.9 trillion an increase of 50 %
which offers the following competitive and customer- from Rp1.9 trillion in 2020. This increase was due to
oriented products and services: a leveraging strategy, which expanded the Danamon
Sharia branch network, leading to greater growth in the
• Deposit accumulation of third-party funds on a granular basis.
Rekening Tabungan Jamaah Haji (RTJH) is a Hajj
pilgrimage savings account that is directly connected to
the government’s Integrated Computerized Hajj System
(SISKOHAT). Other deposit products include iB Hajj
Plan Savings Account, Tabungan Bisa Umroh iB (umroh
savings account), Tabungan Bisa Qurban iB (savings
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04 Management
Sharia Banking
BUSINESS/PRODUCT FOCUS AWARDS

Danamon Sharia provides financial solutions for In 2021, Danamon Sharia received several awards in
customers through a comprehensive range of unique recognition of its excellent service to customers. The
sharia-based products and services. awards are as follows:
In 2020-2021, Danamon Sharia was designated to be • 1st Place in Sharia Business Unit category with asset
an LKSPWU (Cash Waqf Recipient) by the Ministry of < Rp500 trillion, Infobank Digital Brand Awards.
Religious Affairs. Danamon also retained its mandate • 3rd Place the most excellent service in Sharia
from the National Hajj Fund Management Board (BPKH) Business Unit category, BSEM Survey.
to manage Hajj funds as a collecting bank, investment
partner bank, fund deposit bank, and fund management 2022 BUSINESS PLAN
bank. Through this license, Danamon Sharia is allowed to Danamon has conceived a number of strategic
receive cash waqf and will continue to serve prospective initiatives to further expand its Sharia Banking services
Hajj pilgrims from account opening to registering for the in 2022, including optimizing Danamon branch network
pilgrimage. Moreover, The Sharia Unit launched Digital and collaborating with MUFG Group. In line with Bank’s
Sharia On Boarding and digital cash waqf services as an strategy in 2022 to develop digital sharia banking,
important milestone in the digital platform. Danamon Sharia will improve its products and services
especially to the community through a digital banking
On financing, Danamon Sharia continued to develop its platform. In addition, Danamon Sharia plans to complete
unique financing product called Sharia Leasing, which its financing products through green financing.
gives more benefits to customers, especially in the
commercial and corporate segments. Concurrently, Danamon will continue to bring forth
innovative and unique products dedicated to customers.
In line with the development of innovative products, Products will be oriented to the needs of customers and
Danamon Sharia’s flagship products are all intensively be more competitive than services and products offered
promoted throughout Danamon’s new distribution by competitors.
network.
Danamon Sharia has continued to improve its human

resources productivity by enhancing knowledge and
capabilities, especially in the promotion of sharia
banking and products.
Danamon Sharia has continued to improve risk

management and good governance. Infrastructure and
technology have been upgraded and refined to be more
integrated. This has improved customer service levels
by minimizing and integrating several processes within
the parent bank system.
In line with the implementation of the Qanun Aceh

regulations, Danamon Syariah has converted 4
conventional branches into sharia branches in NAD.
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GrOup
Group Marketing
MARKETING
Through the seven key elements consisting of brand identity, brand association,
brand image, quality perception, brand awareness, brand experience, and brand
loyalty, Group Marketing has a goal to consistently build brand values.
Danamon’s marketing and communication functions in people’s lives by relaying brand experiences that are
the Group Marketing division are led by a Chief Marketing relevant to their aspirations, needs, and lifestyles.
Officer (CMO) that reports directly to the Vice President • Marketing Planning and Research: Establishing
Director. a marketing organization driven by a deep
understanding of public behaviour and strong
Group Marketing aims at building strong Danamon Brand management of marketing budgets.
equity through seven important elements, brand identity,
brand association, brand image, perceived quality, brand
awareness, brand experience, and brand loyalty, by MARKETING ACTIVITIES 2021
communicating Danamon’s positioning of customer-
centric financial solutions with technology and a human Danamon Syariah Waqf Online
touch through products, services, channels, and brand Waqf is a form of donation that provides endless benefits
stories. to the wider community. So far, waqf is more widely
known in the form of land, buildings, or other objects, by
Group Marketing consists of: which the value of waqf is relatively high, so not everyone
• Brand Communications: Building Danamon’s is able to make waqf. In collaboration with Minasa
corporate identity in a modern image by rejuvenating Fintechnology Syariah, through the Social Banking digital
and humanizing stories about Danamon. It’s time waqf application, Danamon Syariah offers a solution for
to Take Control, meaning that Danamon wants to waqf donor (Wakif), allowing waqf to be made in cash
empower everyone to take control of their lives to starting at Rp10,000, hence anyone can do waqf. The
achieve their financial needs and goals. acquisition of waqf funds will be disbursed to the waqf
• Marketing Communications: Generating project according to the Wakif’s choice. The waqf fund
customers’ attention and demand through stories will be managed by the Bank’s partner waqf manager
about relevant products, services and channels. (Nazhir) in a professional and transparent manner. Wakif
• Corporate Communications: Maintaining can view the history of waqf transactions through the
Danamon’s reputation and navigating public opinion. “Waqf Story” / “Kisah Wakaf” menu, and monitor the
• Digital Marketing: Digital Marketing, also known as progress of waqf funds disbursement through the Social
online marketing, is brand promotion connecting Banking application. This collaboration strengthens
with new potential customers through digital Danamon Syariah in providing financial solutions for
channels. Digital Marketing’s role in this regard is the community, particularly for supporting halal and
to manage digital channels, such as the Danamon sustainable lifestyles.
Corporate Website (DCW), email, Danamon’s social
media accounts, organic searches (Search Engine Ramadan and Lebaran Campaigns
Optimization), and paid searches (Search Engine In this year’s Ramadan, Danamon launched the
Marketing), as well as mobile and display advertising, #RamadanBijak campaign, a movement supporting the
to ensure our online presence and increase brand government’s regulation of the ‘mudik’ ban by inviting
awareness, marketing, and sales initiatives. Indonesians to take control and adapt to celebrate this
• Brand Activations: Building Brand Relevance and Ramadan more wisely and responsibly.
Scale by creating a perception that Danamon is
“everywhere”, and creating a strong presence in
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04 Management
This #RamadanBijak message is conveyed through a D-Bank PRO, All-in-one Application that not only
video that tells how we can celebrate Ramadan this provides easiness and convenience, but also committed
year in a different, wiser way, without losing the meaning to maintain security in transactions.
of Ramadan itself. The community is invited to join in
sharing their version of #RamadanBijak. In this campaign,
Danamon also provides many special Ramadan promos. Financial Friday
As the movement to stay at home grew, various online
Danamon 65th Anniversary Campaign video services became major sources of information
16 July 2021 marks 65 years of Danamon’s dedication for the public. Taking advantage of this trend, Group
to Indonesia. With its spirit of Growing Through Marketing presents a weekly educational program
Collaboration, Danamon launched Collaboration Festival, entitled “Financial Friday”, featuring external financial
a virtual festival that promotes the spirit of collaboration experts and internal speakers. The event provided
for us to grow together, stay productive and be positive education on financial management and investment
even though #at home. Danamon believes that together planning, as well as building up the Danamon association
we can grow faster and further. In this virtual festival area, as a thought leader for financial solutions.
people can find inspirational stories about Danamon’s
journey, promotions of special collaboration promo The educational packaging of “Financial Friday” is made
products for the 65th Anniversary, and 650 minutes of in various channels to meet the needs and consumption
talk shows highlighting the importance of collaboration, habits of public media, such as YouTube, Podcast Spotify,
from various topics, aspects, and points of view. and IGTV.
Danamon also works with MUFG and Adira Finance For the younger generation, this program is made in the
to assist the government in accelerating vaccination format of a well-known radio talk show, HardRock FM,
program by facilitating vaccination centres and building which is presented casually but still in an informative
emergency hospitals. Through the Aksi Danamon Peduli, way.
Danamon is also committed to supporting economic
movement through Aksi Pasar Sehat dan Tangguh Danamon Brand Campaign ‘Semua Butuh
program, as well as by holding the Water and Sanitation Uang’
Action for the Archipelago in the form of a sanitation ‘Saatnya Pegang Kendali’ is a brand promise made by
facility and clean water source program to improve Danamon to customers that Danamon will always be
public health in areas in need. ready to be an enabler and financial catalyst so that
customers can take control of their financial needs in
D-Bank PRO order to achieve their respective objectives. Therefore,
This year, Danamon launched its newest application, Danamon launched a video manifesto as a reminder
D-Bank PRO, the All-in-one Application , which not only of the promise of ‘Saatnya Pegang Kendali’ that is
supports a wide variety of banking activities, but also connected to contexts that are relevant to the insights
provides easy access through its sophisticated features. of current customers. Through this video, it is hoped that
Danamon’s image can be rejuvenated and be seen as
Danamon is increasingly pampering its customers more modern, progressive, and always up to date.
through D-Bank PRO presence. This application is
designed to provide convenience for customers in Danamon Grab Card
conducting banking transactions. The features and The Danamon Grab Credit Card was launched by
services available in the application are complete, from Danamon and Grab to provide the best financial solution
opening digital accounts, making transfers, topping up for the younger Indonesian generations to become
e-wallets, paying/buying electricity tokens, to opening smart spenders.
online deposits. Even now, there is a new feature, namely
QR Payment to support the payment feature via a QR
Code. and also BI Fast Transfer for transfer transactions
to Other Banks that quickly, easily, with greater limits.
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Group Marketing
Danamon Grab Credit Card is designed with a variety Digital Marketing

of features and benefits to support the daily needs and The ability to reach customers wherever they are is a
lifestyles of younger generations who are socially and must in today’s digital era. Digital Marketing will be a
digitally active but also able to control their spending. key means of reaching customers at a scale we need to
reach new customers.
2022 STRATEGY AND ACTION PLAN Danamoners as Brand Ambassadors

To build an environment that motivates, inspires and
• Building Danamon Brand Awareness through brand engages employees as Danamon brand ambassadors.
stories, products, services and channels.
• Building Reputation and perception of Danamon
through Brand Stories.
• Building Brand Awareness as a trusted modern bank
with global and local capabilities through relevant
brand stories for customers.
• Solution-Centric Communications for products,
services, and channels is a value proposition based
on a combination of superior products, services, and
channels, as well as strong, meaningful, and relevant
communications that build a strong emotional
connection. Positioning the features of our products,
services, and channels to assist customers to
identify their financial needs, provide solutions, and
control their finances.
• Building Perception Scale through Brand Presence
and Experience.
• Creating a feeling that Danamon is “everywhere” in
customers’ lives, through relevant real perceptions
and experiences is very important to build Brand
Awareness.
114
04 Management
PT ADIRA DINAMIKA Pt Adira Dinamika Multi Finance Tbk.
MULTI FINANCE Tbk.

Adira Finance continues to
diversify its funding sources
through support from joint
financing with its parent
company, Danamon, and
by obtaining external
borrowings.
PROFILE
formed, or becoming a customer for life. Adira Finance
PT Adira Dinamika Multi Finance Tbk (“Adira Finance”) wants its customers to feel Adira Finance’s presence as
was established in 1990 and commenced operations in a best friend who can provide solutions, as well as to
1991. In 2004, Adira Finance conducted an Initial Public synergize in the concept of “Sahabat Adira.”
Offering and PT Danamon Indonesia Tbk (“Danamon”)
became the majority shareholder with 75% ownership. “Sahabat” in the Company’s philosophy has a very
Following subsequent corporate actions, Danamon deep meaning, namely the personality values that
currently owns 92.07% of Adira Finance. As a subsidiary Adira Finance reflects to its customers: Flexible,
of Danamon, Adira Finance is part of the MUFG Group, Transparent, Innovative, and Synergistic.
which is one of the largest banks in the world.
BRAND PERSONALITY
• Flexible
Adira Finance has a vision of Creating Common Values Does not make easy things difficult. Adira Finance
for the Sustainability of the Company and Prosperity always provides convenience in everything for its
of Indonesian Society. customers.
PT Adira Dinamika Multi Finance in 2015 introduced a new • Transparent

logo and tagline, namely “Sahabat Setia Selamanya”. This Adira Finance is always open and transparent in
tagline exhibits the Company’s commitment to build providing information to its customers.
long-term partnership with all of its ecosystem, both
internally or externally such as employees, consumers, • Innovative
business partners, and all of its stakeholders. Solutions Adira Finance always provides the right
and creative solutions both at work and in providing
The new logo identity is also a manifestation of a long- products and services to its customers.
term business strategy that is believed to support
sustainable performance. Through a new identity, Adira • Synergistic
Finance wants to serve its customers in all aspects Adira Finance always instils a spirit of collaboration both
of their lives, so that a long-term relationship will be internally and with its customers and business partners.
115
Pt Adira Dinamika Multi Finance Tbk. PT Adira Dinamika Multi Finance Tbk.
PRODUCTS AND SERVICES 2. Strategies in managing optimal funding

In the midst of the Covid-19 pandemic that is still
The business scope of Adira Finance includes investment ongoing throughout 2021, Adira Finance had sufficient
financing, working capital financing, multipurpose liquidity to pay its financial obligations and fund its
financing, other business activities, as well as operating business needs through receiving instalments payment
leases and sharia financing based on the laws and from customers and securing available funding sources
regulations of the Financial Services Authority’s. The facilities.
scope of the Company’s sharia business unit covers
sale and purchase financing, investment financing, and The Company continues to diversify its funding
service financing. sources through support from joint financing with its
parent company, Danamon, and by obtaining external
Products offered include automotive vehicles, including borrowings (bank loans and bonds). As of December
motorcycles and cars, both used and new, as well as 2021, joint financing represented 47% of managed
durables such as electronics, household appliances, receivables. In July 2021, the Company succeeded in
furniture, and so forth. issuing PUB Bond V Phase II and Sukuk Mudharabah
IV Phase II in 2021 worth Rp1.5 trillion with 4.8x
2021 STRATEGIES AND WORK PROGRAMS oversubscribes.
Adira Finance adopted several strategies and work As of December 2021, the Company’s total external
programs to respond to the challenges of 2021, including: borrowings declined by 34.8% yoy to Rp10.9 trillion,
consisting of bank borrowings (onshore and offshore)
1. Strategies in Business Development and bonds, each contributing 45%:55%. As a result, the
• Adira Finance is more aggressive and gearing ratio decreased to 1.2 times from the previous 2.1
competitive toward increasing the penetration times in FY21, hence; the Company still has considerable
of the automotive business, both cars and room for expansion when the market recovers.
motorcycles. The Company provides various
attractive sales programs and in 2021 held a 3. Initiatives to increase productivity and operational
virtual exhibition for new and existing customers. excellence includes:
It also strengthened the good relations with a. Productivity Improvement, initiatives to
dealers to increase new financing. increase productivity are carried out through
• Expanding the network to non-automotive several programs, including adjustment of
businesses by continuing to diversify the productivity calculations, developing branch
products offered to support business growth. organizations that focus on customer centricity,
• Continuing investment and encouraging Organization Effectiveness (OE) projects, and
digitalization through Adira’s online platforms, refreshment trainings.
Adiraku, Momobil.id, Momotor.id, and b. HR development by improving the Learning
dicicilaja.com, as an alternatives in acquiring Ecosystem, relying on an online approach as
new financing and consumers, both new and well as on improving the ability and scalability of
existing customers. FMA (Faculty Member of Adira), is still the main
• The Company will continue to manage asset method for improving the learning ecosystem.
quality to keep the NPL ratio under control by c. Cultural Development in accordance
applying prudent risk management principles. with Business Initiatives, there are several
• The Company ensures adequate liquidity to cultural activities carried out in 2021, such
distribute new financing to customers and as Entrepreneurship Culture, AHA, innovation
meet its financial obligations, through receiving programs, and digital culture.
customer instalment payments and acquiring
from various funding sources.
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04 Management
PT Adira Dinamika Multi Finance Tbk. Pt Adira Dinamika Multi Finance Tbk.
2021 PERFORMANCE
Details of the 2021 business performance are outlined in the following table:
2021 2021
Details yoy 2020
Achievement Projection
New Financing (IDR trillion) 39% 25,921 25,496 18,622
Non- Performing Financing (%) - 2.3% ±2.5% 1.9%
Market Share-Motorcycles (%) -0.3% 9.2% ±10% 9.5%
Market Share-Cars (%) -0.1% 4.0% ±4% 4.1%
2022 STRATEGIES AND PLANS
Adira Finance’s several strategies to be executed in 2022 are as follows:

• The Company will strengthen and gain market share in the automotive business through
product diversification and by providing various attractive sales programs for customers, as
well as strengthening good relations with our dealers.
• Expanding networks to non-automotive businesses by continuing to diversify the products
offered to support business growth.
• Continuing investment and accelerating digitization through Adira’s online platforms, namely
Adiraku, Momobil.id, Momotor.id, and dicicilaja.com, as an alternative in acquiring new financing
and consumers, both existing and new consumers.
• Continuing Business Process Reengineering (BPR) to improve business efficiency and
effectiveness by creating simpler, faster, and leaner processes, as well as by providing a better
customer experience.
• Continue to focus on customer centricity by improving services, offering a variety of products,
and providing customer loyalty programs.
• The Company will continue to manage its asset quality in order to keep the NPL ratio under
control by applying prudent risk-management principles.
117
ORGANIzATION STRUCTURE
of Adira FinancE
CEO
Chief Of Chief Of Sales,

Chief Of Chief Of Risk &
Business Alliance Service & Dist
Portfolio Officer Legal Officer
Strategy Officer Officer
Head Of Head Of
Head Of Retail
National NDCR Bussiness
MCY Financing
& Durable Improvement
Head Of Head Of Head of Risk Head Of

Buz Head Of Head Of National Head Of
National Fleet Yamaha NMCY NDCR Regional SSD Analytics & Quality
Alliance MIS Assurance
Strategy
Head Of Head Of
Head Of National Head Of Head Of SSD Head Of
National Account Mgt
Honda NMCY KEDAY Management Legal
NCAR 1 Support
Head Of Head Of SSD Head Of

Head Of National Head Of
National Support Business
Suzuki & MB NMCY Operation
NCAR 2 Process
Risk Mgt Improvement
Head Of Head Of National Head Of Buz
National Used MCY Partnership
UCAR Management
Head Of SND
System Solution Head Of
Syariah
DIR Level
DD Level
VP/SVP Level
118
04 Management
Organization Structure Of Adira Finance
Digital
Business
Advisor
Chief Of Chief Of HC Chief Of

Chief Of Strategy & Management & Marketing
Financial Officer Transformation CREM Officer Officer
Officer
Head Of
Head Of Digital
Head Of Corporate Head
Credit Of IT Center Of
Planning Excellence
& Collection Procurement
Head Of Head of Head Of Head Of Head Of Mkt

Head Of Head Of IT
Corporate Transformation Digital Buz Corporate Strgy & Cust
Credit Business Sup
Finance Mgt & Supp Automotive University Experience
Head Of Head Of IT Head Of Head Of

Head Of Head Of Head Of
Change Sol Development Digital Buz Brand & Corp
Collection Procurement HCGA
Management Non Auto Comm
Head Of Head Of Tech Head Of Head of

Head Of Head Of
Loan Service & Digital Business
CORSEC & CREM
Asset & Enterprise Arc Product & Analytics
Investor Rel
Recovery Eng
Head Of IT
Head Of Infrastructure
Funding Management
Head of
Finance & Head Of IT Head Of
Cash Mgt Control & Internal
Compliance Audit
Head of
Accounting &
Tax Head Of
Compliance
& AML Unit
119
FINANCIAL
REVIEW
In 2021, Danamon posted net profit after tax of financial statements position as of 31 December
Rp1.57 trillion, increased by 56.1% compared to 2021, and consolidated financial performance and
2020. This resulted in ROA and ROE of 0.8% and consolidated cash flows for the corresponding
4.1%, respectively at the end of 2021, compared fiscal year, in accordance with Indonesian
to previous year’s level of 0.5% and 2.6% Financial Accounting Standards.
respectively. Danamon NPL ratio (consolidated)
was well managed at 2.7% at the end 2021, The Public Accountant Firm Imelda & Partners
improved 10bps compared to 2.8% at the end of (a member firm of Deloitte Touche Tohmatsu
2020. Limited) has audited the consolidated financial
statements conducted by Elisabeth Imelda with
NPL Coverage ratio stood at 225.6%, increased Licence of Public Accountant No. AP.0849 based
compared to 208.7% at the end of previous year. on auditing standards set by the Indonesian
Institute of Certified Public Accountants with an
The following financial reviews are based on unmodified opinion.
Danamon and its subsidiary consolidated
2020 2021
in Rp billion
Retail1
Wholesale 2
Total Retail1
Wholesale2 Total
Assets 80,543 107,967 188,510 71,328 109,167 180,494
Liabilities 85,684 57,946 143,630 83,001 51,452 134,453
Net interest income 9,723 4,001 13,724 9,395 4,352 13,747
Non-Interest Income 3,181 1,011 4,192 2,099 1,893 3,992
Operating Income 12,904 5,012 17,916 11,495 6,244 17,739
Operating Expenses (8,114) (991) (9,105) (8,487) (1,074) (9,561)
Cost of Credit (5,651) (889) (6,540) (5,049) (715) (5,764)
Non-Operating (61) (75) (136) (194) 98 (97)
Income and Expenses
Restructuring Costs (68) (37)
Profit before Income 2,067 2,280
Tax
Income Tax (978) (611)
Net income from 1,089 1,669
continuing operations
Net Profit After 1,089 1,669
Income Tax
Net Profit After 1,008 1,573
Income Tax
Attributable to Parent
Entity
1. Consists of small and medium enterprises, micro, credit card, Sharia, insurance business, consumer financing,
pawnshops and retail banking.
2. Consists of commercial banking, corporations, financial institutions and treasury.
120
04 Management
Financial Review
Consolidated Financial Statements Position Rp4.27 trillion in 2021. Previously, Danamon’s TPF and
Danamon posted total assets of Rp192.24 trillion in 2021, borrowings were recorded at Rp126.21 trillion and Rp8.95
4.3% lower compared to Rp200.89 trillion in the previous trillion, respectively.
year. The declining assets was largely due to a decrease
in loans - net and Consumer financing receivables & Assets
Finance lease receivables - net by 3.8% and 11.4% to Danamon recorded total assets of Rp192.24 trillion in
Rp99.97 trillion and Rp20.24 trillion, respectively amidst, 2021, decreased by 4.3% from Rp200.89 trillion in 2020.
the prolonged pandemic until 2021. The accounts in the assets section of financial statements
with the largest decline are loans, consumer financing
Adjusting to the decline in assets, the Bank’s total receivables, and current accounts with other banks.
liabilities was also reduced from Rp157.31 trillion in 2020 Meanwhile, government bonds showed a significant
to Rp147.16 trillion in 2021. The declining liabilities was increase throughout 2021. Further explanations regarding
mainly due to a decrease in Third Party Funds (TPF) and these financial accounts are as follow:
borrowings by 2.3% and 52.2% to Rp123.35 trillion and
Growth
Description (Rp billion) 2020 2021
YoY
Cash 2,838 2,790 -1.7%
Current Accounts with Bank Indonesia 2,186 3,060 40.0%
Current Accounts with Other Banks-net 4,417 2,978 -32.6%
Placements with Bank Indonesia and other banks 7,304 9,888 35.4%
Marketable securities-net 4,689 5,514 17.6%
Government Bonds 25,535 30,338 18.8%
Derivatives receivable 363 187 -48.3%
Loans – net 103,937 99,966 -3.8%
Consumer financing receivables & Finance 22,852 20,239 -11.4%
lease receivables-net
Fixed assets and Right-of-Use Assets-net 2,106 1,896 -10.0%
Other assets 12,900 12,264 -4.9%
Total assets 200,890 192,240 -4.3%
Cash The ratio of Danamon’s GWM in Rupiah is 3.53% while

Danamon posted cash of Rp2.79 trillion as of 31 December GWM in foreign currencies is 4.10% in 2021.
2021, 1.7% lower than the previous year’s position of
Rp2.84 trillion. Cash contributed 1.5% of Danamon’s total Current Accounts with Other Banks
assets. Current accounts with other banks in 2021 decreased
by 32.6% to Rp2.98 trillion, primarily as Rupiah demand
Current Accounts with Bank Indonesia deposits decreased from Rp3.12 trillion in 2020 to Rp0.94
Current accounts with Bank Indonesia surged 40.0% trillion in 2021. The share of current accounts with other
to Rp3.06 trillion from Rp2.19 trillion in the previous banks to total assets is 1.5% in 2021 compared to 2.2%
year following lower reserve requirements, of which in 2020.
throughout 2021 Bank Indonesia reduced the GWM
percentage several times in order to increase the liquidity
of banking industry.
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Financial Review
Placements with Other Banks and Bank Marketable Securities

Indonesia Based on the issuer, Danamon’s securities are corporate
Danamon posted an increased in placements with Other bonds issued by banks and corporations. Securities
Banks and Bank Indonesia by 35.4% to Rp9.89 trillion. issued by corporations have a larger portion of 18,1%
This increasing profile was mainly due to a 167.6% higher compared to securities issued by banks of 16,7%.
placements in time deposits of Bank Indonesia from
Rp1.85 trillion in 2020 to Rp4.95 trillion in 2021. Based on prevailing Bank Indonesia regulations, all
marketable securities as of 31 December 2021 and
Based on the prevailing BI regulations, all placements 31 December 2020 are classified as current.
with other banks and Bank Indonesia as of 31 December
2021 and 31 December 2020 are classified as current.
Marketable Securities Graph
2020 2021
28.2%
28,2% 28.0%
28,0%
71.8%
71,8% 72.0%
72,0%
Bank-Bank Korporasi
Banks Corporations
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04 Management
Financial Review
Government Bonds
Danamon posted an 18.8% increase in government bonds from Rp25.53 trillion in 2020 to Rp30.34 trillion in 2021. This
increase was driven by 21.7% higher government bonds denominated in Rupiah to reach Rp26.15 trillion.
Government bonds with maturity period of 1-5 years has the largest portion at 71.8%.
Government Bonds Graph
2020 2021
26.6%
26,6% 21.6%
21,63%
0,9%
0.9% 0.5%
0,44%
2.1%
2,1% 0,73%
0.7%
70.4%
70,4% 77.2%
77,2%
1-5 1-5 Less Kurang

than 1 dari 5-10
5-10 More
Lebih than
dari
Years tahun Year 1 Tahun Years
Tahun 10 10 Years
Tahun
Loans
The impact of Implementation of social restrictions Meanwhile, based on the types and orientation of use,
(PPKM), in line with the increasing COVID-19 cases working capital loans still had the largest portion of 62.8%
due to highly transmissible Delta also affected lending despite recording a 3.4% decrease to Rp66.66 trillion
activities due to a slowdown in economic activity. Net in 2021 and loans disbursement for other productive
loans disbursed by Danamon reached Rp99.96 trillion purposes such as investment loans decreased 7,0% to
in 2021, 3.8% lower than its position in 2020. However, Rp14.53 trillion. Cumulatively, the two types of credit for
loans still had the largest contribution to total assets productive purposes contributed 86.3% of loans in 2021.
standing at 52.0% in 2021.
Consumer loans was up by 0.5% to Rp24.90 trillion
Based on currency type, loans denominated in Rupiah in 2021, driven by various stimulus provided by the
was down by 3.8% while loans denominated in foreign Government to increase people’s purchasing power.
currencies increased 4.6% to Rp11.21 trillion. The
portions of these two types of loans are 90.2% and 9.8%
respectively in 2021.
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Financial Review
Loans Graph
2020 2021
14,3%
14.3% 13,7%
13.7%
22.6%
22,6% 23.5%
23,5%
63,1%
63.1% 62,8%
62.8%
Working Capital Consumer Investment

Modal Kerja Konsumsi Investasi
Loans disbursement based on Industry sector was Meanwhile, household loans reached Rp24.90 trillion
dominated by the manufacturing sector which reached with a growth of 0.5% in 2021. In previous year, loans to
Rp25.60 trillion with a portion of 24.1% of total loans household was at Rp24.78 trillion. The contribution of
(gross). The wholesale and retail sector recorded the household loans reached 23.5% and 22.7% in 2021 and
second largest loan disbursement of Rp25.36 trillion 2020, respectively.
or representing 23.9% in 2021. Meanwhile, loans to the
financial intermediaries reached Rp13.22 trillion and
contributing 12.5% of total loans.
in Rp billion
Description 2020 2021 Growth YoY

Wholesale and retail 30,561 25,357 -17.0%
Manufacturing 21,776 25,601 17.6%
Financial intermediary 15,634 13,218 -15.5%
Transportation, warehousing, and communications 3,108 5,273 69.7%
Construction 4,345 3,623 -16.6%
Others 9,188 8,117 -11.7%
Households 24,780 24,903 0.5%
Total-gross 109,392 106,092 -3.0%
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04 Management
Financial Review
Loans Disbursement Graph
2020 2021
27.9%
27,9% 23.9%
23,9%
22,7%
22.7% 23,5%
23.5%
8.4%
8,4% 7,6%
7.6%
4,0%
4.0% 3.4%
3,4%
19,9%
19.9% 24,1%
24.1%
2,8%
2.8% 5,0%
5.0%
14.3%
14,3% 12,5%
12.5%
Perdagangan besar
Wholesale and Retail Konstruksi
Construction
Transportasi, Pergudangan, dan
Transportation, Warehouse, and
dan eceran komunikasi
Communication
Rumah Tangga
Households
Perantara
Financial Keuangan
Intermediary
Lain-lain
Others
Pengolahan
Processing
Based on geographic region, loans disbursed by Danamon are concentrated in the areas of Jakarta, Bogor, Tangerang,
Karawang, Bekasi, and Lampung. Total loans in these areas amounted to Rp70.34 trillion in 2021 or representing
66.3% of total loans. In previous year, the portion of loans disbursed in that region was also the highest, at 61.0%. The
following table describes the distribution of loans disbursed by Danamon.
in Rp billion

Jakarta, Bogor, Tangerang, Karawang, Bekasi, and Lampung 66,753 70,337 5.4%
West Java 8,610 7,272 -15.5%
North Sumatra 8,320 6,923 -16.8%
East Java 7,516 6,152 -18.1%
Central Java and Yogyakarta 6,062 5,834 -3.8%
Sulawesi, Maluku, and Papua 5,235 3,725 -28.9%
Kalimantan 3,514 2,729 -22.3%
South Sumatra 1,759 1,645 -6.5%
Bali, NTT, and NTB 1,623 1,475 -9.1%
Total-gross 109,392 106,092 -3.0%
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Financial Review
Consumer Financing Receivables and OJK has released a regulation extending bank’s credit
Finance Lease Receivables restructuring relaxation from March 2022 to March 2023
In addition to bank loans, loans that Danamon provides to maintain the economic recovery momentum.
on a consolidated basis also include consumer financing
receivables and finance lease receivables through Loans restructured by Danamon and Adira Finance
its subsidiary, Adira Finance. Net consumer financing comprised of among others rescheduled principal and
receivables and finance leases decreased by 11.4% to Rp interest payments, adjusted interest rates, and reduced
20.24 trillion in 2021, from Rp22.85 trillion in previous overdue interest. COVID-19 restructured loans declined
year. This decline was due to economic condition which from Rp29.96 trillion in 2020 to Rp18.21 trillion in 2021, of
has not fully recovered yet after being affected by which only Rp5.07 trillion remaining under forebearance.
COVID-19 pandemic.
The weighted average effective interest rate per annum
Collectability of Loans, Consumer Financing and Finance for the year ended 31 December 2021 was 8.4% for
Leases Rupiah and 3.3% for foreign currencies. In the previous
Description 2020 2021 year, the effective interest rates were 9.6% and 3.4%,
respectively.
NPL-gross 2.8% 2.7%
Special Mention 11.3% 9.3% Fixed Assets and Right-of-Use Assets
Current 85.9% 88.0% Danamon’s fixed assets and Right-of-use assets in 2021
decreased by 10.0% to Rp1,90 trillion from Rp2,11 trillion
As the pandemic continued through 2021, Danamon in the previous year. The decrease was mainly due to
provided COVID-19 related loans restructuring as regular depreciation higher than addition of fixed assets
mandated by the Financial Services Authority (OJK). this year.
in Rp billion
Growth
Fixed Assets 2020 2021
YoY
Land 641 614 -4.1%
Building 672 607 -9.7%
Office Supplies 250 193 -22.8%
Motor Vehicles 40 38 -5.0%
Total Fixed Assets-net 1,603 1,452 -9.4%
Right-of-Use Assets
Cost 698 784 12.3%
Accumulated amortization (195) (341) 74.9%
Net book value 503 443 -11.9%
Total Fixed assets and right-of-use assets 2,106 1,896 -10.0%
Other Assets Liabilities

Danamon’s other assets comprising of accounts other To support the loan growth, Danamon’s funding sources
than those described above. The total other assets consist of customer deposits, deposits from other banks,
reached Rp12.26 trillion in 2021 from Rp12.90 trillion in securities issued and borrowings. In 2021, Danamon’s
the previous year. CASA ratio increased by 6.8% to reach 59.1% compared
to previous year at 52.3%. This is in line with the Bank’s
strategy to focus on granular funding.
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04 Management
Financial Review
in Rp billion
Growth
Liabilities 2020 2021
YoY
Customer Deposits 123,733 121,069 -2%
Deposits from Other Banks 2,478 2,285 -8%
Total Third Party Funds 126,211 123,354 -2%

Securities Issued 8,392 6,750 -20%
Borrowings 8,952 4,276 -52%
Subordinated Loans 25 25 0%
Other Liabilities 13,735 12,752 -7%

Total 157,315 147,157 -6%
Deposits from customers

Danamon’s Third Party Funds (TPF) amounted to Rp121.07 trillion. From DPK position in 2021, TPF composition
comprising of low cost of fund Current and Savings Accounts (CASA) from customers stood at 58.6% compared to
deposits portion of 41.4%. This is in line with Danamon’s strategy to focus on granular funding, reflected in CASA
increased by 11% compared to the previous year.
Deposits from customer’s contribution to total liabilities reached 82.3% in 2021 and 78.7% in the previous year.
in Rp billion
Growth
Description 2020 2021
YoY
Current accounts 22,900 25,437 11.1%
Savings 40,967 45,518 11.1%
Time deposits 59,866 50,114 -16.3%
Total 123,733 121,069 -2.2%
Deposits from customers Graph
2020 2021
48,4%
48.4% 41.4%
41,4%
33.1%
33,1% 37,6%
37.6%
18,5%
18.5% 21,0%
21.0%
Deposito Berjangka Tabungan Giro

Time Deposits Savings Current Accounts
127
Financial Review
Deposits from Other Banks The total borrowings received in 2021 worth Rp4.27
Danamon also has deposits from other banks as a trillion, a 52.2% decrease than previous year’s position of
funding source for business expansion. In 2021, deposits Rp8.95 trillion. A decrease in the borrowings received was
from other banks reached Rp2.28 trillion, down by 7.8% mainly due to a declining loan in foreign currency from
from the previous year’s position of Rp2.48 trillion. The Rp7.51 trillion to Rp3.18 trillion in 2021. The borrowings
contribution of this account to total liabilities is 1.6% and received came from various institutions either abroad
1.5% for 2020 and 2021, respectively or domestic which demonstrates Danamon group’s high
flexibility in obtaining funding sources.
Securities Issued
On a consolidated basis, Danamon’s outstanding bonds Subordinated Loans
reach Rp6.35 trillion in 2021, 19.8% lower than the Danamon has a strong financial support from the
previous year’s position of Rp7.91 trillion. Of the total controlling shareholder. On 27 November 2018, the Bank
bonds payable, Rp851.32 billion or 13.4% was issued by entered into a subordinated loan agreement with MUFG
Danamon. The bond, which will mature on 24 May 2022, Bank, Ltd., a related party, amounting to Rp25,00 billion
were rated AAA(idn) by Fitch Ratings. with a fixed interest rate of 9.3% per annum.
Moreover, Danamon through Adira Finance issue The subordinated loan has been fully disbursed from
bonds to support financing business activities. Adira MUFG Bank, Ltd. on 4 December 2018. The subordinated
Finance’s total bonds that have not yet matured minus loan was made to fulfil the requirements for an action
underwriting fees and others are Rp5.50 trillion in 2021, plan (recovery plan) in accordance with POJK No.14/
lower than Rp7.06 trillion in the previous year. All ADMF POJK.03/2017 concerning Action Plans (Recovery Plan)
bonds were rated idAAA by Pemeringkat Efek (Pefindo). for Systemic Banks. The loan will mature within 5 years
from the disbursement date. This subordinated loan
In addition, Adira Finance has a Sukuk Mudharabah cannot be repaid before the maturity date without
of Rp402.00 billion in 2021, lower than the previous obtaining prior approval from OJK.
year’s position of Rp478.00 billion. All of Adira Finance’s
mudharabah sukuk were also rated idAAA(sy) by Equity
Pemeringkat Efek (Pefindo). Danamon booked a stronger equity in 2021 in the time
of pandemic, reaching Rp45.08 trillion. This was largely
Borrowings supported by a 3.5% increase in retained earnings to
Danamon’s subsidiary, Adira Finance, also has a long- Rp29.64 trillion in 2021.
term financing scheme with a term of more than one
year as another source of stable funding.
in Rp billion
Growth
YoY
Issued and fully paid 5,996 5,996 0.0%
Additional paid-up capital 7,986 7,986 0.0%
Other equity components 443 915 106.6%
Retained earnings 28,683 29,643 3.3%
Non-controlling interests 467 544 16.3%
Total 43,575 45,083 3.5%
128
04 Management
Financial Review
Consolidated Statements of Profit or Loss and Other Comprehensive Income
in Rp billion

Interest income 20,088 17,749 -11.6%
Interest expense (6,364) (4,002) -37.1%
Interest income – net 13,724 13,747 0.2%
Other operating income – net 4,192 3,992 -4.8%
Other operating expenses (15,645) (15,325) -2.0%
Net operating income 2,271 2,414 6.3%
Non-operating income-net (204) (134) -34.4%
Income before tax expense 2,067 2,280 10.3%
Tax expense (978) (611) -37.6%
Net income from continuing operation 1,089 1,669 53.3%
Other comprehensive income for the year – net of tax 1,089 1,669 53.3%
Total comprehensive income for the year 1,382 1,893 36.9%
Net profit attributable to:
Parent entity 1,008 1,573 56.1%
Total comprehensive income for the year attributable
to:
Parent entity 1,302 1,776 36.4%
Net income per share (full amount) 103 161 56.3%
Net Interest Income

In line with the declining interest expense in 2021, Danamon booked a 0.2% growth in net interest income to Rp13.75
trillion. Previously, net interest income amounted to Rp13.72 trillion.
Other Operating Income

Other operating income reached Rp3.99 trillion in 2021, declined by 4.8% compared to the previous year level. Fees,
commission income and other non-interest income increased. However gains from financial instruments and sales
of marketable securities and Government Bonds declined.
Other Operating Expenses

Danamon’s other operating expenses was dominated by impairment losses as well as salaries and employee benefits.
These two other operating expense components amounted to Rp5.76 trillion and Rp5.26 trillion in 2021, respectively. In
previous year, these two components were Rp6.54 trillion and Rp5.04 trillion. Cumulatively, other operating expense
accounts declined 2.0% from Rp15.64 trillion to Rp15.32 trillion.
129
Financial Review
2020 2021
2.0% 2.0%
2,0%
2,0%
8,6%
8.6% 9.6%
9,6%
15.4%
15,4% 16.4%
16,4%
32.2%
32.2% 34,3%
34.3%
41.8%
41,8% 37.6%
37,6%
Other
Bebanfees and dan
Provisi General and dan
Beban umum Salaries
Beban and Employee
Tenaga Kerja impairment
Kerugian Others
Lain-lain
Commissions
komisi lain Expense Administrative
administrasi Benefit
dan Tunjangan Losses
penuruan nilai
Expense
Net Operating Income

Danamon posted a net operating income of Rp2.41 trillion in 2021. This achievement was 6.3% higher than the
previous year’s position of Rp2.27 trillion. The growth was mainly due to lower interest expenses as well as lower
impairment losses.
Income Before Income Tax

In line with the higher net operating income, Danamon posted a profit before income tax of Rp2.28 trillion in 2021, up
10.3% compared to the previous year’s position of Rp2.07 trillion.
Net Income Attributable to Owners of the Parent

Net income attributable to Owners of the Parent Entity increased 56.1% from the previous year to Rp1.57 trillion in 2021.
In 2021, Danamon’s earning per share reached Rp161 per share (full amount), an increase compared to Rp103 per share
(full amount) in previous year.
Consolidated Statements of Cash Flows

in Rp billion
Growth
YoY
Net cash provided from/(used by) operating activities 17,306 15,173 -12.3%
Net cash provided from/(used by) investing activities (5,282) (6,544) 23.9%
Net cash provided from/(used by) financing activities (8,479) (7,051) -16.8%
Net increase/(decrease) in cash and cash equivalents 3,545 1,578 -55.5%
Cash and cash equivalents at beginning of the year 13,075 16,698 27.7%
Cash and cash equivalents at the end of year 16,698 18,261 9.4%
130
04 Management
Financial Review
Cash Flows from Operating Activities Cash Flows from Financing Activities
Danamon posted a net cash surplus provided from Danamon reported that net cash used for financing
operating activities amounted to Rp15.18 trillion in 2021. activities of Rp7.05 trillion in 2021, decreased 16.8% from
This was 12.3% lower than previous year’s position of previous year’s position of Rp8.48 trillion. This decrease
Rp17.31 trillion as new loan disbursement increased was mainly due to lower net borrowings from the
while time deposit amount declined. previous year.
Cash Flows from Investing Activities Key Financial Ratio

Danamon recorded net cash used by investment Danamon conducts its business activities prudently and
activities of Rp6.54 trillion in 2021, a 23.9% increase complied with the regulations of Bank Indonesia, OJK as
compared to the previous year’s position of Rp5.28 well as other prevailing laws and regulations.
trillion. This increase was mainly due to increase in
acquisition of marketable securities and Government The Bank is able to meet the financial ratios set by the
Bonds in 2021. regulator amidst the pandemic challenges. Danamon’s
key financial ratios are as follows:
Key Financial Ratios (%) 2020 2021
CAR-Consolidated 25.0 26.7
Gross NPL-Consolidated 2.8 2.7
ROA-Consolidated 0.5 0.8
ROE-Consolidated 2.6 4.1
NIM-Consolidated 7.4 7.5
Cost to Income-Bank Only 46.5 47.7
LDR-Bank Only 84.0 84.6
RIM-Bank Only 85.0 86.0
Debt Repayment Capability and Receivables to Baa1. The outlook for Moody’s long-term rating is Stable.
Collectibility The Bank’s participation in the guarantee program of the
Indonesian Deposit Insurance Corporation (LPS) also
Debt Repayment Capability strengthens its ability to pay depositors’ third party funds.
From an external perspective, the indicator of Danamon’s
debt repayment capability is provided by rating agencies Meanwhile, from an internal perspective, Danamon’s
either national or international scale through their ratings ability to meet all obligations, both long-term and
assigned to Danamon. Pefindo, a national rating agency, short-term, is measured through several ratios such as
issued an excellent rating for Danamon by assigning a liquidity ratios, solvency ratios, and profitability ratios.
corporate rating of idAAA with a Stable outlook.
Solvency Ratio
Meanwhile, an international rating agency Fitch assigns The capital ratio is one of the parameters used in
National Ratings for Long Term and Short Term to measuring the solvency ratio. Danamon always ensures
AAA(IDN) and F1+(IDN) respectively, whilst Foreign that its capital is able to meet Capital Adequacy Ratio
Currency Ratings for Long Term and Short Term are (CAR) requirement which includes credit risk, market risk
BBB and F2, respectively. The outlook for the long-term and operational risk. On a consolidated basis, Danamon
rating from Fitch is Stable. recorded a CAR of 26.7% in 2021, higher than 25.0% in
2020. Danamon’s CAR ratio exceeded the minimum CAR
In addition, in 2021, another international rating agency, ratio required by the regulator.
Moody’s, has upgraded Danamon’s Long Term Bank
Deposits and Adjusted Baseline Credit Assessment rating
131
Financial Review
Profitability Ratio Net Stable Funding Ratio (NSFR). These ratios are 86.0%,
Danamon’s financial ratios to measure its profitability 84.6%, 187.0% and 140.7%, respectively in 2021 compared
and performance efficiency are Return to Average Assets to 85.0%, 84.0%, 188.0% and 143.7%, respectively in 2020.
(ROAA), Return to Average Equity (ROAE), Net Interest All the ratios indicated ample liquidity for Danamon.
Margin (NIM), and Operating Expenses to Operating
Capital Structure
Income (BOPO) ratio.
Danamon recorded profitability ratios of ROAA and Capital Structure Components

ROAE of 0.8% and 4.1% respectively in 2021. Both ratios Danamon is committed to managing a strong and
in the previous year were 0.5% and 2.6%, respectively. healthy capital structure as foundation for sustainable
Meanwhile, Net Interest Margin (NIM) ratio was recorded business growth.
at 7.5% in 2021 and 7.4% in 2020. On the other hand,
Danamon’s BOPO ratio was recorded at 86.6% in 2021 Based on POJK No. 34/POJK.03/2016 regarding Capital
compared to 88.9% in the previous year. Adequacy Ratio for Commercial Banks, capital of bank
comprises of:
Liquidity Ratio • Core capital (Tier 1 capital) comprising of main core
The bank’s liquidity management is very important to capital and additional core capital
Danamon since it is closely related to the Bank’s ability • Supplementary capital (Tier 2)
to meet either short-term or long-term obligations. Key
measures of liquidity risk for Danamon includes the Core capital has a portion of 96.77% of Danamon’s total
Macroprudential Intermediation Ratio (RIM), Loan to capital in 2021.
Deposit Ratio (LDR), Liquidity Coverage Ratio (LCR) and
Bank Only Consolidated

Rp billion
2020 2021 YoY 2020 2021 YoY
Core Capital (Tier-I) 31,035 31,014 (21) 37,970 38,974 1,004
Supplementary Capital 1,202 1,238 36 1,308 1,302 (6)
(Tier-II)
Total Capital 32,236 32,252 16 39,278 40,276 998
Credit, Operational, 125,974 122,256 (3,718) 157,251 150,732 (6,519)
Market Risk Weighted
Assets
CAR 25.6% 26.4% 0.8% 25.0% 26.7% 1.7%
Management Policy on Capital Structure Danamon also performed an Internal Capital Adequacy
Management’s policy on capital structure is reflected Assessment Process (ICAAP) to determine capital
in Danamon’s CAR (Capital Adequacy Ratio) as one adequacy in accordance with the risk profile and
indicators of the Bank’s capital adequacy. The Bank’s determine strategies to maintain capital levels. The
ability to grow and accommodate the possible risk of Bank’s risk profile in 2021 is rated Low to Moderate (2). In
loss is measured through CAR. accordance with POJK No. 34/ POJK.03/2016 and SEOJK
No.26/SEOJK.03/2016, CAR that must be provided by
Danamon consistently maintains capital adequacy considering the risk profile rating of Low to Moderate (2)
level above the minimum CAR level stipulated by the and Basel 3 Capital Buffer in 2021 is 13.4%.
regulator. Danamon’s consolidated CAR ratio reached
26.7% in 2021 compared to 25.0% in 2020.
132
04 Management
Financial Review
Basis for Determining Management Policy on Capital of Danamon conduct planning, studies and discussions
Structure related to the Bank’s capital.
In setting capital structure policies, management
considers various factors amongst others economic Commitments and Contingencies
projections, business growth potential, risk appetite, stress Danamon’s loan facility commitment to customers as
testing results, and capital ratio targets. Through this plan, well as contingencies, including in the form of income in
Danamon is expected to be able to take advantage of settlement and bank guarantees received.
growth and strategic opportunities, perform its business
within the corridor of risk appetite and comply with Cumulatively, in 2021 total commitment liabilities and
prevailing regulations, maximize shareholder returns, and net contingent liabilities amounted to Rp7.0 trillion or a
survive through various economic cycles. Supported by 13.7% increase compared to the previous year’s position
data analysis, the Board of Directors and Commissioners of Rp6.16 trillion.
in Rp billion
Growth
YoY
Unused loan facilities to debtors 260 259 -0.5%
Outstanding irrevocable letters of credit 1,067 1,782 66.9%
Total commitment payable 1,327 5,373 304.8%
Contingent receivables
Guarantee from other banks 229 412 79.7%
Total contingent receivables 229 412 79.7%
Contingent payables
Guarantees issued 5,057 4,965 -1.8%
Total contingent payables 5,057 4,965 -1.8%
Contingent payables - net 4,828 4,961 2.8%
Commitment payables and contingent payables - net 6.156 7.002 13.7%
Impact of Changes in Interest Rate on Bank Danamon’s interest rate risk management regularly
Performance
conducts a sensitivity analysis based on a number
of scenarios to see the impact of changes in interest
Impact of Interest Rate Changes rates. This is important because interest rate risk is
Changes in interest rates have an impact towards the probability of loss that may occur as a result of the
banking industry by cutting bank interest rates for retail opposite movement in positions vis-à-vis the interest
loans; consumers, including mortgages. Bank Indonesia rate market or the Bank’s transactions.
has lowered the 7-Day Reverse Repo Rate (BI7DRR) by
25bps in February 2021 and maintained the BI7DRR at Impact of Foreign Currencies Changes
3.5% until the end of 2021. Foreign exchange rate risk arises from on and off-balance
sheet positions in both assets and liabilities through
The impact of interest rates changes on the performance transactions in foreign currencies. Danamon measures
of the Bank can encourage more optimal credit foreign exchange rate risk in order to understand the
absorption, trigger the economy to be more advanced impact of exchange rate movements on the Bank’s
so as to improve the Bank’s performance, income and capital.
133
Financial Review
Investment Properties There is no material information and facts that occurred

Danamon does not own property assets that are after the date of the accountant’s report.
used for investment purposes until the period
ended 31 December 2021. Comparison of 2021 Target and Realization
Indonesia’s economy in 2021 has started to show signs
Material Commitments for Capital Goods Investment for recovery, which has caused Danamon’s profitability
Until the end of 2021, Danamon has no material to increase compared to the previous year, although
commitments related to capital goods investment. Thus, the growth was still slightly lower than the target set
data related to the name of party making commitments; in the previous year due to spike in the delta variant
purpose of the commitments; the source of funds in mid 2021. This also led to lower loan disbursement
expected to fulfil these commitments; the currency compared to the target.
being denominated; and the Company’s plans to hedge
the risk from its associated foreign currency position are Dividend Policy
not presented in this section. Based on the decision of the Annual General Meeting
of Shareholders (“AGMS”) dated 30 April 2021, it was
Capital Expenditures Realized in The Last Fiscal Year decided amongst other to distribute cash dividends for
Danamon invests in capital goods in the form of fixed 2020 financial year, representing 35,0% of the 2020 net
assets comprising of land, buildings, equipment, profit or approximately Rp352,664,900,000 or amounting
machinery, office furniture, motor vehicles and non-fixed to Rp36.08 per share.
assets such as system and infrastructure development.
The dividend payments for the last 3 financial years are
Material Information and Facts Occurring After the as follows:
Accountant’s Report Date
Dividend per Share for Total Dividend General &
Fiscal % Net
AGMS date series A and series B (Rp Payment Payment date Mandatory Reserves
Year profit
full amount) (Rp Billion) (Rp Billion)
2020 30 April 2021 35% 36.08 352.7 3 June 2021 10.1
2019 23 March 2020 45% 187.55 1,833.1 24 April 2020 40.7
2018 26 March 2019 35% 143.22 1,372.8 26 April 2020 39.2
Employee and/or Management Equity Ownership Program for changes in the use of proceeds (if any) was not
In 2021, Danamon did not have a share option program presented.
for the Board of Directors, Board of Commissioners or
employees. Henceforth, the Bank did not provide related Important Changes in The Bank and Bank Business Groups
information regarding: In 2021
Danamon reported that there were no important
1. Number of ESOP/MSOP shares and their realization; changes that occurred in the Bank and the Bank’s
2. Term of time; business groups as of 31 December 2021 which affected
3. Requirements for eligible employees and/or Danamon’s financial position.
management; and
4. Exercise price. Other Important Transactions in Significant Amount
There was no other important transaction in significant
Realization of Proceeds from Public Offering amounts executed by Danamon throughout 2021 other
In 2021, Danamon as a parent company did not conduct than those described in this Management Discussion
any public offerings, either bonds or shares. Thus, and Analysis chapter.
information related to the total proceeds; plan for
the use of proceeds; details of the use of proceeds;
proceeds balance; and approval date of the GMS/RUPO
134
04 Management
Financial Review
Material Transactions Containing Conflicts of Interest Expansion

Throughout 2021, Danamon did not record transactions Danamon did not perform expansion activities in 2021
containing conflicts of interest. so that information regarding purpose, transaction value
and source of funds for expansion activities are not
Transactions with Affiliated Parties/Related Parties presented.
Danamon conducts various transactions with related
parties which are not conflict of interest transactions Divestment
in performing its business activities. The transaction is Danamon did not perform divestment activities in 2021
executed fairly based on normal commercial terms such so that information regarding purpose, transaction value
as transactions with unrelated parties. More complete and source of funds for divestment activities are not
information related to transactions with related parties disclosed.
can be seen in the attachment of 2021 audited financial
report of PT Danamon Tbk (Note No. 47). Acquisition
Danamon did not execute acquisition activities in 2021
Information on Transactions Related to so that information regarding purpose, transaction value
Investments, Expansion, Divestment, Acqui-
and source of funds for acquisition activities are not
sition and Restructuring
presented.
Investment
Danamon did not conducted investment activities in Restructuring
2021 so that information regarding purpose, transaction There were no debt or capital restructuring activities in
value and source of funds for investment activities are 2021. Therefore, Danamon did not provide information
not presented. related to restructuring activities in terms of objectives,
transaction value and sources of funds for restructuring
activities.
135
Financial Review
Regulatory Changes and Its Impact on the Company in 2021
Nr BI/OJK Regulation Description Impact on BDI
1 PADG No.23/26/ Material Coverage: The LTV policy is a

PADG/2021 About relaxation provided by
Third Amendment 1. Adjustment of LTV/FTV ratio limit for KP/PP BI and is an opportunity
to PADG No.21/25/ for the Bank to
PADG/2019 Regarding Types of LTV/FTV Limit Ratio (Highest) grow property and
Loan To Value Ratio Property (m2) automotive loans.
including Green Bank that Bank that not
for Property Loans,
Property Met NPL/NPF Met NPL/NPF
Financing To Value
Requirements Requirements
Ratio for Financing
Property, And Down KP/PP Facility KP/PP KP/PP
Payment For Credit or I etc Facility I Facility
Financing II etc
Effective: January 1, Land Housing

2022
Type > 70 100% 95% 90%
Type >21 - 70 100% 95% 95%
Type <21 100% 100% 95%
Low Cost House

Type > 70 100% 95% 90%
Type >21 - 70 100% 95% 95%
Type <21 100% 100% 95%
Home-Shop/ 100% 95% 90%

Home-Office
2. Downpayment limitation adjustment for PKB/KKB

Types of Vehicle "Downpayment Limit (Minimum)"
Included Motored
Vehicle With Bank That Bank That Do
Environmental Insight Meets Npl/Npf Not Meets
Requirements Npl/Npf
Requirements
2 Wheels 0% 10%
3 Wheels Or More 0% 10%
Non Productive
3 Wheels Or More 0% 5%
Productive
3. The limitation period for the LTV Ratio for KP, FTV Ratio for PP,
and Advance for KKB or PKB as mentioned above is extended
until December 31, 2022
136
04 Management
Financial Review
2 SEOJK No. 12/ Material Coverage: Bank has submitted a

SEOJK.03/2021 • SEOJK No.25/SEOJK.03/2016 was revoked and no-longer valid Business Plan, Business
concerning • Submission of Business Plan, Business Plan Realisation Plan Realization Report
Commercial Bank Report, and Business Plan Oversight Report online through and a Business Plan
Business Plan OJK reporting system (APOLO) Supervision Report
• adjustment of financial report projection format referrring online through the
Effective: March 31, to the Integrated Commercial Banks Report; OJK (APOLO) reporting
2021 • Format adjustments based on the latest supervisory needs, system. The Bank has
including changes in the ratio and types of business activities also referred to the
that are the focus of the credit plan (focusing on certain sectors LBUT and used the
and/or products) report format according
• Adjustment of the plan format for product issuance and/ to the latest regulations.
or implementation of new activities that become strategic
in nature.
Report Period Submission Timeline First

Name Reporting
Period via
APOLO
Business Quarterly 30 April, or 15 May for March 2021
Plan Commercial Banks (For business
Realization without online system prospect
Report and has more than 100 2021)
branches as per POJK
oon bank business
plan
Business Half year 31 August June 2021
Plan (for Business
Oversight Plan 2021)
Report
Business Annual 30 November prior to Business
Plan Business Plan year Plan 2022
3 SEOJK No.14/ Material Coverage: Banks is required to

SEOJK.03/2021 1. Submission of Business Plans, Business Plan Realization adapt the new format
concerning Business Reports, and Business Plan Supervision Reports online and implementation of
Plans for Sharia through the OJK reporting system (APOLO); report submission.
Commercial Banks and 2. Adjustment of the financial report projection format to
Sharia Business Units refer to the Integrated Commercial Bank Report;
3. Adjustment of the plan format for product issuance and/or
Effective: April 30, implementation of new activities that are strategic in nature.
2021
4 PADG No.23/7/ Scope of the change as follow: BDI is necessary to make
PADG/2021 concerning a. Addition of Export Money Orders to the calculation of RIM, adjustments to the
the Third Amendment so that it becomes as follows: calculation and fulfill
to PADG No. 21/22/ = Loans/Financing + Corporate Bonds + Export Bills the Statutory Reserves
PADG/2019 concerning in accordance with
Macroprudential 3rd Party Funds + Bonds Issued the provisions of the
Intermediation applicable Disincentive
Ratio (RIM) and b. The lower limit disincentive is implemented gradually parameters.
Macroprudential starting from 1 May 2021 until 1 January 2022
Liquidity Buffer (PLM)
for Conventional NPL CAR 1 May – 1 Sep – 1 Jan ’22
Commercial Banks, 31 Aug ‘21 31 Dec ‘21 onward
Sharia Commercial
RIM RIM RIM
Banks, and Sharia
< 75% < 80% < 84%
Business Units.
<5% ≤ 14% 0 0 0
Effective: May 1, 2021
14% < CAR ≤ 19% 0.1 0.1 0.1
> 19% 0.15 0.15 0.15
≥5% - 0 0 0
137
Financial Review
5 Bank Indonesia Fulfillment of RIM Current Accounts is applied for BUK and UUS, BDI is necessary and
Regulation Number if RIM does not meet the RIM target, with a RIM limit of 84% able to add the position
23/17/PBI/2021 < RIM < 94%, then the fulfillment of RIM Current Account can of the end of day
and Board of take into account the Rupiah current account balance from the balance of the BI-FAST
Governors Member BI RTGS system & Bank Indonesia Funds – Fast Payment account in calculating
Regulation (PADG) the fulfillment of
No.23/31/PADG/2021 Statutory Reserves.
concerning the Third
Amendment to Bank
Indonesia Regulation
Number 20/4/
PBI/2018 concerning
Macroprudential
Intermediation
Ratios and
Liquidity Buffers
Macroprudential
for Conventional
Commercial Banks,
Sharia Commercial
Banks, and Sharia
Business Units
Effective: January 3,
2022
6 PBI NO. 23/8/ Material Coverage: The bank shall adjust
PBI/2021 Regarding Adjustment of settings regarding LBUT implementation time, the delivery of the LBUT
the Second namely: in accordance with the
Amendment to PBI 1. The LBUT submission period consists of: PBI of the LBUT
No. 21/9/PBI/2019 a. Parallel run period for report submission and/or report
and PADG No. correction from the end of December 2019 data to the
23/13/PADG/2021 end of December 2021 data.
concerning the b. Full implementation period: submission of reports and/
Second Amendment correction of reports since January 2022 data.
to PADG No.21/23/ 2. Written notification is given to banks that are late and do
PADG/2019 not submit reports and/or report corrections from the end
concerning of March 2021 data to the end of December 2021 data.
Integrated
Commercial Bank
Reports
Effective: July 1,
2021
138
04 Management
Financial Review
7 1. IDIC : SE-2/ Material Coverage: The Bank shall adjust

DKRB/2021 Adjustment of LPS SCV reporting submission deadline as the LPS SCV submission
concerning follows: in accordance with the
Adjustment of 1. The obligation to report Raw Data follows the provisions LPS Regulation.
Obligations for regarding integrated Commercial Bank reporting and the
Submission of provisions regarding the submission of reports through the
Data Reports integrated report portal;
on Customer 2. The obligation to report SCV Data Per Customer to IDIC
Based Deposit begins in the annual reporting period of 2022; and
Insurance for 3. The obligation to report SCV Per Bank Concise Data to IDIC
Commercial starting in the January 2022 reporting period
Banks 4. During the extension of the submission deadline,
2. IDIC : Copy of administrative sanctions are not applied, but the Bank still
Chief Executive submits reports and statements in accordance with the
Decree No. 55 of provisions in PLPS SCV
2021 concerning
Adjustment of
Obligations for
Submission of
Commercial
Bank Customer-
Based Deposit
Guarantee Data
Reports
Effective: August 9,
2021
8 POJK No. 12/ Material Coverage: The bank has met
POJK.03/2021 1. Establishment of an Indonesian Legal Entity Bank (BHI): the capital requirements
concerning paid-up capital to establish Bank BHI is set at least Rp. 10T as a BHI. Based on the
Commercial Banks 2. Banks with head office and domiciled overseas that will core capital owned, the
open KCBLN must fulfill Capital Equivalency Maintained Bank is KBMI 3
Effective: October Assets (CEMA) of at least Rp10T
31, 2021 3. Banks having their head office and domiciled abroad that
will open a KPBLN must place a deposit at Bank BHI of at
least IDR 3T
4. Bank Grouping Based on Core Capital, into 4 KBMI:
a. KBMI 1: Core Capital up to Rp6T
b. KBMI 2: Core Capital more than Rp6T to Rp14T
c. KBMI 3: Core Capital more than Rp14T to Rp70T
d. KBMI 4: Core Capital more than Rp70T
5. Grouping based on BUKU if associated with KBMI:
a. BUKU 1 can be equated with KBMI 1;
b. BUKU 2 can be equated with KBMI 1;
c. BUKU 3 can be equated with KBMI 2 or KBMI 3;
d. BUKU 4 can be equated with KBMI 3 or KBMI 4.
139
Financial Review
9 PADG No.23/16/ Material Coverage BDI as an Appointed

PADG/2021 1. Discussion on the criteria for appointment and registration Cross Currency Dealer
concerning as Bank ACCD Indonesia (Appointed Cross Currency (ACCD), the bank is
Settlement Dealer Bank) as well as evaluation and termination of the able to follow the Local
of Bilateral appointment of Bank ACCD Indonesia by Bank Indonesia Currency Settlement
Transactions 2. Discussion on the type of transaction, the scope of the (LCS) transaction
between Indonesia underlying transaction, the nominal limit, and the time mechanism for Rupiah
and China Using period for conducting the transaction (spot, forward, swap, and Yuan in accordance
Rupiah and Yuan CCS, DNDF, and other transactions as determined by Bank with the applicable
through Banks Indonesia) regulations.
3. Financial instruments that are prohibited from investing in
Effective: the management of SNA Yuan and Sub-SNA Yuan balances
September 6, 2021 (deposits, savings accounts, certificates of deposit, and
other equivalent forms)
4. Periodic reporting forms mechanisms (4 forms) and
submission of price quotations that must reflect fair prices
and can be transacted.
10 POJK No. 17/ Adjustment points: Bank has in place
POJK.03/2021 • Banks are able to determine for debtors affected by the and implemented the
Regarding the spread of Covid-19 until March 31, 2023: relaxation policy guided
Second Amendment a. Asset quality based assessment on the accuracy of with OJK rules.
to the Financial payments for credit/financing with a ceiling of up to IDR
Services Authority 10 billion T e c h n i c a l
Regulation Number b. current quality of restructured loans/financing implementation
11/POJK.03/2020 determination followed the selective
concerning National c. quality of new credit/financing separately from existing handling strategy and
Economic Stimulus facilities determination strict oversight to the
as a Countercyclical • Stimulus scope: Covid restructuring
Policy Impact of the a. The provision of education funds of less than 5% of the portfolio development
2019 Coronavirus HR expenditure budget for banks is not only valid for to maintain the
Disease Spread 2020 and 2021, but also for 2022 Bank’s overall assets
b. Determination of the quality of Foreclosed Collateral performance quality.
Effective: (AYDA) by the bank obtained up to. March 31, 2020 based
September 10, 2021 on the quality of the collateral taken over the position of The Bank always
the end of March 2020 to March 31, 2023 implements risk
c. LCR, NSFR, and Capital Conservation Buffer (CCB) valid management for
until March 31, 2022 debtors impacted by
the COVID-19.
With regards to the

POJK of National
Economic Stimuli,
herewith the relaxation
policy that were not
applied by BDI:
1. Determination of the
Capital Conservation
Buffer (CCB) is 2.5%.
2. Regarding LCR and
NSFR, the Bank
continues to apply
internal limits by
providing a buffer
above the normal
provisions (100%).
During the stimulus
period, the Bank
has never had an
LCR and NSFR value
below the internal
limit.
140
04 Management
Financial Review
11 Bank Indonesia Adjustment on GWM calculation: BDI is necessary and

Regulation No. 23/16/ a. End of day (EOD) balance on the IDR BI-RTGS account plus able to add the end of
PBI/2021 concerning the balance on the BI-FAST account. day balance position of
the Third Amendment b. Average EOD balance on the IDR BI-RTGS account plus the the BI-FAST account
to Bank Indonesia balance on the BI-FAST account in the 2 reporting periods. in calculating the
Regulation Number fulfillment of Statutory
20/3/PBI/2018 There is an exception for fulfilling the Primary Statutory Reserves.
And Reserves - Rupiah (21 Dec ’21 - 2 Jan ’22) because BDI is a
Regulation of member of BI-FAST.
Members of the Board
of Governors Number Effective 3 January 2022, BSM is required to calculate Primary
23/27/PADG/2021 Statutory Reserves (daily and average) by taking into account
concerning the the balance in the BI-FAST account.
Seventh Amendment
to Regulation of
Members of the Board
of Governors Number
20/10/PADG/2018
concerning Statutory
Reserves in Rupiah
and Foreign Exchange
for Conventional
Commercial Banks,
Sharia Commercial
Banks, and Sharia
Business Units
Effective: December
21, 2021
Changes in Accounting Policies

The following standards, amendments and interpretations - Phase 2. Interest Rate Benchmark Reform - Phase 2
became effective since 1 January 2021 and are relevant addresses issues that might affect financial reporting
to the Bank and Subsidiary: after the reform of an interest rate benchmark,
including impact of change in contractual cashflow
• PSAK 112 “Accounting for Wakaf (Endowments)”. PSAK or hedge accounting due to replacement of interest
112 regulates the accounting treatment for wakaf rate benchmark with alternative benchmark rates;
transactions carried out by both nazhir and wakif in • Annual Improvements PSAK 110 “Sukuk Accounting”.
the form of organizations and legal entities, PSAK 112 This improvement provides clarification on initial
can also be applied by individual nazhir; recognition of investment in sukuk. This Annual
• Amendment to PSAK 22 Business Combination. Improvements PSAK 110 also impact PSAK 111 “Wa’d
This amendment clarifies definition of a business to Accounting” which refer to PSAK 110;
assist an entity determines whether a transaction • Amendment to PSAK 73 “Lease” regarding Lease
is recorded as business combination or assets Concession related to COVID-19 after 30 June
acquisition: 2021. This amendment extends the scope of lease
• Amendment to PSAK 71 “Financial Instruments”, concession period, which is one of the requirements
Amendment to PSAK 55 “Financial Instruments: for practical implementation, to 30 June 2022. This
Recognition and Measurement”, Amendment to PSAK amendment became effective since 1 April 2021 with
60 “Financial Instruments: Disclosures”, Amendment initial implementation allowed.
PSAK 62 “Insurance Contracts”, Amendment to PSAK
73 “Lease” regarding Interest Rate Benchmark Reform
141
#05
OPERATIONAL
ReVIEW
RISK MANAGEMENT
The implementation of risk management within Danamon and its

subsidiary continues to be improved in line with the regulations and
best practices in business. The implementation of risk management is
intended to identify, measure, monitor, and control various potential
risks in all operating units, both in the business lines and in supporting
units.
VISION & MISSION
Vision
Danamon considers Risk Management to be an integral part of its business strategy, thereby
promoting a strong risk culture that is well-embedded in the overall day-to-day decision-making,
operational activities, and employee conduct.
Mission
1. To be a trusted partner for the lines of business by ensuring transparent and appropriate
Risk Appetite, resulting in positive outcomes for our clients, shareholders, regulators, and
employees.
2. To be a strong advocate of corporate values and principles, supported by a robust risk
framework that is well-defined, well-communicated, and pre-emptive in nature.
3. To provide world-class policies, models, tools, and frameworks that assist in measured and
sound risk-taking.
4. To sponsor a strong and pro-active risk and control culture throughout Danamon and its
subsidiary.
144
05 Operational Review
Risk Management
IMPLEMENTATION OF RISK MANAGEMENT
Three Lines of Defense Approach

To support the effectiveness of risk management implementation, Danamon implements the concept of the Three
Lines of Defense Approach by dividing the roles and tasks of each working unit in implementing risk management,
as follows:
Board of Commissioners Supervision

Board of Directors Supervision
First Line of Defense Second Line of Defense Third Line of Defense
• Lines of Business • Integrated Risk Directorate Internal Audit Unit (SKAI)
• Operational Working Units • Regulatory Compliance Division
• Other Supporting Working Units
Lines of business, operational The Integrated Risk Directorate and The Internal Audit Unit has a role
working units, and other supporting Regulatory Compliance Division have as a Third Line of Defense that
working units are the First Line of a role as a Second Line of Defense is responsible for evaluating the
Defense, responsible for conducting to perform risk monitoring function risk management implementation
daily risk management in each independently. conducted by the First and Second
working unit. Lines of Defense.
Risk Management in Danamon Active Supervision of Board of Directors,

In accordance with the Financial Services Authority’s Board of Commissioners, and Sharia
(OJK) regulation regarding risk management Supervisory Board
implementation, the key elements that support The implementation of Risk Management in Danamon
Danamon risk management governance structure are: involves the active oversight and supervision by the
1. Active supervision of the Board of Directors and Bank’s Board of Directors (BOD), Board of Commissioners
Board of Commissioners. (BOC), and Sharia Supervisory Board (for Sharia Business
2. Adequacy of risk management policies and Unit). Recognizing the strategic role of these three
procedures, as well as a risk limit setup. boards, Danamon has determined the supervision
3. Adequacy of risk management processes and risk duties for each board are as follows:
management information systems.
4. Internal Control System.
Active Supervision Functions

Board of Commissioners (BOC) Sharia Supervisory Board Board of Directors (BOD)
The Board of Commissioners Danamon appoints the Sharia • As the responsible party for the
delegated its risk monitoring Supervisory Board in the Sharia implementation of operational
function to the Risk Oversight Business Unit in accordance with activities, including monitoring
Committee. However, the Board of the recommendation from the the implementation of risk
Commissioners remains the ultimate National Sharia Board (Majelis Ulama management, the BOD has a role
responsible party. Indonesia) and approval from the in comprehensively determining
Financial Services Authority (OJK). the direction of risk management
policies and strategies, including
their implementation.
• The BOD has established the Risk
Management Committee to support
its functions and responsibilities
in relation to risk management
implementation.
145
Risk Management
Active Supervision Functions

Board of Commissioners (BOC) Sharia Supervisory Board Board of Directors (BOD)
1. Approve the risk management 1. Evaluate the Risk Management 1. Prepare comprehensive written risk
policies, strategies, and Policies related to compliance with management policies, strategies,
frameworks that are aligned Sharia Principles. and frameworks; also responsible
with the risk appetite and 2. Evaluate the accountability of for implementation.
risk tolerance; also conduct the Board of Directors for the 2. Conduct periodic reviews of risk
periodically evaluations. implementation of the Risk assessment methodologies, as
2. Perform risk oversight and Management Policies related to well as of the implementation of
evaluate the accountability of compliance with Sharia Principles. the risk management information
the BOD for the implementation 3. Act as an advisor and provide system, risk management policies
of the risk management policies recommendations to the BOD and procedures, and limit setups.
and strategies, and of the risk and sharia business management 3. Approve the business activities
exposures, through periodic (officers who are related to that require BOD approval.
reviews with the BOD. the implementation of Syariah 4. Develop a risk management
3. Approve the business activities business) regarding matters related culture on all levels of the
that require BOC approval. to Sharia Principles. organization.
4. Approve the policies that need 4. Coordinate with the National 5. Oversee risk quality in comparison
BOC approval as according to BI/ Sharia Board to discuss the Bank’s with the prevailing level of
OJK regulations or other external proposals and recommendations fairness.
regulations. for product and service 6. Ensure management (the Board
5. Carry out the risk management development that need review by of Management and executive
function as regulated in the and decisions from the National officers) adopts a prudent
regulations. Sharia Board. and conservative approach for
6. Delegate the authority to the developing business.
BOD to enable them to approve 7. Determine the risk appetite.
the business activities and other 8. Ensure the corrective action for
tasks. the findings that reported by
Internal Audit (SKAI).
9. Ensure the effectiveness of
management and enhancement
of human capital competency
related to the implementation of
risk management.
10. Place competent officers in the
working units based on nature,
quantity, and complexity.
11. Develop and put in place a
mechanism of transaction
approval, including for those that
exceed the authority limit for
each level of the position.
12. Ensure that the risk management
function has been independently
implemented.
Risk Management Policies, Procedures, and 1. Risk Management Policy – Bank and Consolidated,
Limit Setup which includes the framework and implementation
of individual and consolidated risk management for
Considering the structure of the financial conglomerate, the Bank and subsidiary.
which consists of vertical (direct relationships between 2. Integrated Risk Management Policy of the MUFG
parent company and subsidiary) and horizontal Group financial conglomerate, which includes the
(relationships between sister companies) relationships, framework and implementation of integrated risk
the risk management policies for the bank and financial management for the financial conglomerate.
conglomerate are differentiated into two documents, as
follows:
146
Risk Management
Risk Management Policy – Bank and Consolidated is the The Organization Structure of Risk
main policy for the implementation of risk management Management
in the Bank and its subsidiary and is a reference for The organizational structure of risk management consists
developing risk management policies, procedures, of several risk committees and risk management working
and guidelines according to the prevailing regulations. unit at Danamon and its subsidiary and other related
The Integrated Risk Management Policy of the MUFG working units with various levels of responsibility.
Group financial conglomerate is referred to in the sub-
chapter entitled, “Implementation of Integrated Risk a. Risk Oversight Committee
Management”. The Risk Oversight Committee is the highest risk
management authority at the BOC level. Its main roles
However, since the subsidiary is a separate entity from are to monitor and provide recommendations to the
the Bank, the implementation of risk management BOC related to the evaluation of risk management
should consider the laws of Limited Liability Companies policies and their implementation, to evaluate the
and Capital Market, as well as other related external execution of the duties of the Board of Directors,
regulations. Danamon and its subsidiary have developed Risk Management Committee, and risk management
their own detailed guidelines and procedures. Those working units in risk management, as well as to provide
guidelines and procedures are in line with the Risk independent professional opinions to the BOC and to
Management Policy – Bank and Consolidated, prudential recommend to the BOD actions to be considered for
principles, and other related external regulations. further strengthening the risk management framework.
Danamon has various risk management policies, i.e. a b. Risk Management Committee
Credit Risk Policy, Operational Risk Management Policy, At the BOD level, a Risk Management Committee
Market and Liquidity Risk Management Policy, Information has been established that is responsible for,
Security Policy, Business Continuity Management Policy, among other things, the evaluation and provision
and others, which have been prepared separately of recommendations to the President Director and
and refer to the Risk Management Policy – Bank and BOD related to the development of risk management
Consolidated. strategies and policies, the implementation of the
overall risk management processes, and the evaluation
Risk management leads to the establishment of risk of significant risk issues.
appetite and risk tolerance limits that can be afforded/
absorbed by Danamon when determining the portfolio, The Risk Management Committee oversees 2 (two) sub-
in line with the price risks that have been carefully committees, as follows:
considered and reflected in the amount of capital that 1. Credit Policy Sub-Committee
is managed to anticipate the loss of risk, while also The main role of Credit Policy Sub-Committee is to
supporting the business growth of Danamon. review, provide input, monitor, and evaluate matters
related to the development and implementation of
Danamon and its subsidiary, both individually and a Credit Risk Policy (CRP).
consolidated, have established risk limits in accordance
with the levels of risk appetite and risk tolerance, and The Chairman of the Credit Policy Sub-Committee
business strategies. Risk limits are established at the is the Integrated Risk Director and the Alternate
group level and then cascaded to the lines of business Chairman is the Credit Director. The Permanent
and subsidiary. Members of the Sub-Committee are the CCO
Consumer, SME, Mass Market, Senior Credit Officer,
The policies, procedures, risk limits, and risk management Chief Internal Auditor, Business Heads (EB, SME,
systems are reviewed periodically to be in line with the and Consumer), and Credit and Enterprise Risk
changes in market conditions, products, and services Management Head.
being offered, as well as prevailing regulations.
147
Risk Management
2. Information Disclosure Sub-Committee the risk-taking units and working units that conducts
The Information Disclosure Sub-Committee the internal control function. This directorate consists
was established to comply with MUFG Bank’s of several divisions, i.e. Credit and Enterprise Risk
requirement to ensure that the sub-committee Management (CERM), Market Liquidity Risk (MLR),
has reviewed, deliberated, and concluded on the Operational Risk Management, Fraud & QA (ORM),
accuracy and the appropriateness of financial Information Risk Management (IRM), Risk Modelling,
reporting and to ensure the framework for internal Quantitative Technique & Analytics (RA), and Change Risk
control over financial reporting has been properly Management.
designed and enhanced.
This directorate consists of professionals and seniors in
The chairman of the Information Disclosure Sub- risk management. This is an independent function that
Committee is the Finance Director. The Permanent forms a second line of defense.
Members are several appointed directors and officers.
The Integrated Risk Directorate develops an overall
c. Risk Management Working Unit risk management strategy that includes the policies,
The Integrated Risk Directorate is the Risk Management methodologies, frameworks, limits, procedures, and
Working Unit in Danamon that is independent from controls for Danamon and its subsidiary.
Board of
Commissioners
RIsk Oversight
Board of Directors Committee
Integrated Risk
Management Risk Management
Committee Committee
Integrated Risk Directorate (2nd line of Defense)
Risk Management
in subsidiary and Operational Risk
Credit & Market & Information
Risk Modeling, Change Risk
sister company Enterprise Risk Liquidity Risk
Management, Quant, Tech Management
Management Risk Management
Fraud & QA & Analytics
• Compliance Unit
• Legal Council Unit
• Corporate Planning & Investor Relation Unit
• Corporate Secretary Unit
• Sharia Team
Risk Management Process and Risk Management Information System

Danamon regularly performs the process of identifying, measuring, monitoring, and controlling all risks encountered,
both individually and with its subsidiary. This process is included in the policies and guidelines for every working unit
in the Bank and its subsidiary. The overview of risk management process is as follows:
148
Risk Management
Risk identification process determine the scope and

scale of phases in the risk measurement, monitoring
and control. Identification is done by analyzing all Risk measurement is used to measure
types and characteristics of the risks that contained Danamon’s risk exposure as the basis to
in every Danamon’s business activity which also perform the control. The measurement
cover the products and other services. approach and methodology can be in form of
Risk
qualitative, quantitative or a combination of
Identification
the both. The risk measurement is performed
regularly for the product and portfolio as well
as all Danamon’s business activities.
RISK
Risk MANAGEMENT Risk
Control Measurement
PROCESS
Risk control is carried out among others, by

providing the follow up on the moderate and high
risk which exceed the limits, control escalation Risk monitoring activity is done by evaluating
(immediate supervisory), capital addition to absorb Risk
Oversight the risk exposure that contained in all
the potential loss and periodic internal audit. product portfolios and business activities as
well as the effectiveness of risk management
process.
In the structure of Risk Management applied by Internal Control

Danamon, the Integrated Risk Directorate consolidates Implementation of internal control in risk management
Danamon’s risk exposures that are managed by each includes:
risk owner. 1. Management supervision and a culture of control
in which the BOD and BOC are responsible for
Lines of business, functional units, and subsidiary improving work ethics and high integrity, and
are operational working units that are responsible for creating an organizational culture that emphasizes
managing the risks from beginning to end within the the importance of the internal controls that apply in
scope of their responsibilities. They must clearly identify, Danamon. To support the control culture, the policies,
measure, monitor, and control risk. Before entering a risk- standards, and procedures must be documented in
bearing activity, risk mitigation should be considered. writing and available to relevant employees.
2. Risk identification and assessment are conducted
In performing its role as a risk monitor and controller in for all types of risk covered by the quantitative and
an operational unit, the Integrated Risk Directorate will qualitative assessments.
evaluate the business strategies, policies, and product 3. Control activities that are applied at all functional
programs. levels and involve all employees are aimed to
manage and control the risks that can affect
In performing a good control and monitoring system, performance or result in losses. A separation of
Danamon has an adequately detailed risk management functions is also applied in the implementation
information system, including Internal Credit Rating of operational activities with the aim of depriving
System, ALM System, Operational Risk Management anyone in any position of the opportunity to commit
System, etc. Those systems are used to detect any and hide errors or irregularities in the execution of
unfavourable developments at an early stage, so it is tasks at all levels of the organization and in all steps
possible to do corrective actions to minimize losses for of their operational activities.
Danamon. 4. The existence of an adequate accounting system,
information system, and communication flow that
can produce reports and information needed to
support the implementation of the duties of the
BOD and BOC.
149
Risk Management
5. The monitoring of inherent risk must be prioritized Risk awareness and culture at all organizational levels is
and function as a daily activity, including periodic established through:
evaluations, both by the operational working units • Communicating the importance of risk management.
(risk-taking units) and QA function in each LOB. • Communicating the risk tolerance level and the
Reviews of the effectiveness of risk management expected risk profile through various limits and
implementation, including the adequacy of policies, portfolio management.
procedures, and management information systems • Empowering employees to prudently manage risk in
are done on a regular basis, including by conducting their activities, including by providing adequate risk
internal audits on the risk management process and mitigation.
monitoring corrective actions over audit findings. • Monitoring the effectiveness of risk management
implementation in all areas.
In addition, Danamon always ensures the fulfilment of
various key points in the control process, covering the Risk Management for Particular Areas
suitability of the internal control system and Danamon’s a. Risk Management of New Products
risk, the establishment of authority, the monitoring of In accordance with the Bank’s business plan, Danamon
the implementation of policies, procedures, and limits, has formulated a policy that governs the procedures
a clear organization structure, and the adequacy of for product issuance and monitoring, including the
procedures for complying with regulations. implementation of risk management of new products
according to the prevailing regulations. New products
Human Resources are prepared, recommended, and reviewed in
The implementation of risk management by Danamon is accordance to the prevailing policies and must also
supported by adequate and competent human resources pass a compliance test before being launched.
at all levels. The capabilities and skills of the human
resources related to risk management are continuously The authorization of approval for new products is
improved through training that is conducted internally differentiated based on the risk level while still complying
and externally, as well as by the requirement to obtain with regulations. A product’s risk level is evaluated based
risk management certification according to prevailing on product performance, the targeted customers, the
regulations. complexity of the operational process, and market
conditions. Sharia products require consultation with
Risk Culture and approval from the Sharia Supervisory Board.
A strong risk management culture is created if all
employees are aware of and understand the risks they b. Risk Management of Sharia Unit
encounter, as well as if they perform adequate risk The implementation of Sharia Risk Management is
management processes while doing their activities. In carried out based on POJK No. 65/POJK.03/2016
this context, Danamon is committed to establishing a regarding the implementation of risk management for
combination of unique values, i.e. trust, implementation, Sharia Banks and Sharia Business Units. In terms of
and supervision by management, to ensure that all policy, Danamon has Risk Management Policy — Bank
organizational levels in Danamon conduct their business and Consolidated, which it uses as its main framework
and operational activities in a prudent manner and and basic principles for managing the risks that must
based on best practices. be followed by all lines of business and subsidiary,
including the Sharia Business Unit. In addition, the
Risk culture is determined through: Sharia Unit is also guided by the sharia principles that
• Direction and supervision from the BOC and the are the principles of Islamic law in banking practices
BOD of Danamon and its subsidiary. based on fatwas that are issued by the authorised
• Familiarization of risk management as an integral institution.
part of business practices.
• Adherence to all policies, procedures, prevailing
laws, and regulations.
150
Risk Management
Risk measurement is performed by using an appropriate Danamon, as the Parent Company, will continue
methodology for the characteristics of the Sharia to conduct improvement to the consolidated risk
Business Unit, through the measurement of risk profile management processes of its subsidiary.
levels that are evaluated on a quarterly basis.
Evaluation of Effectiveness of Risk Management
In terms of the risk management that is relevant to the System
fulfilment of sharia principles, the Sharia Supervisory To carry out an evaluation of the effectiveness of risk
Board (DPS) approves the policies, procedures, management, the BOC and the BOD actively oversee the
systems, and products related to the fulfilment of implementation of risk management through various
sharia principles and the contracts to be used. The committees.
implementation of a Risk Management process and
system in the Sharia Business Unit follows Danamon’s To obtain sufficient data and an overview of the actions
policies and complies with sharia banking rules. The taken in risk management, the committees conduct
Director in charge of the Sharia Business Unit is also a regular meetings to discuss risk-related issues and
member of the Risk Management Committee. provide recommendations to the BOC and the BOD.
c. Risk Management of Subsidiary Moreover, periodic evaluations are performed on risk

Danamon applies a consolidated risk management assessment methodologies, the adequacy of system
process with its subsidiary by considering the different implementation, management information systems,
characteristics of the business between the subsidiary and on the accuracy of policies, procedures, and limits
and Danamon. This is done through an assistance- in order to comply with changes in regulations, business,
and-alignment process of risk management practices and operational conditions. As a result of the reviews,
in terms of risk governance, risk management policies Danamon conducts Portfolio Meetings to periodically
and procedures, methodologies of risk measurement, evaluate the condition of Danamon’s and its subsidiary’
risk management reporting, and enhancement of a risk risk portfolios.
awareness culture.
Risk Profile
In terms of monitoring, the Integrated Risk Directorate The risk profile assessment includes the assessment
continuously monitors the portfolio performance of inherent risk and the quality of risk management
of the subsidiary and identifies any early warning implementation that reflects the risk control system,
of deterioration of a subsidiary’s portfolio quality. either individually, or in a consolidated or integrated
Danamon also provides technical assistance in the manner. The assessments of individual and consolidated
risk management process related to credit risk, market risk profiles are performed on 10 (ten) risks, i.e. Credit
and liquidity risk, operational risk, human resources, Risk, Market Risk, Liquidity Risk, Operational Risk, Legal
information system, and risk management policies, Risk, Strategy Risk, Compliance Risk, Reputation Risk,
procedures, and methodologies. Rate of Return Risk, and Investment Risk. For Integrated
Risk Management, the managed risks also include Intra-
The results of monitoring and evaluating a subsidiary’s Group Transaction Risk, but exclude Rate-of-Return Risk
risk exposure are reported periodically. Subsidiary’s risk and Investment Risk.
management is one of the major focuses of corporate
management because it plays an important role in In accordance with the monitoring results of each
supporting Danamon’s strategic plans. main risk group that were analysed by Danamon during
2021, the composite rating for Danamon’s individual,
This consolidation process is in line with Financial consolidated, and integrated risk profile as of 31
Services Authority Regulation (POJK) No. 38/ December 2021 was 2 (low to moderate).
POJK.03/2017 regarding the Implementation of
Consolidated Risk Management for a Bank that has
control over the Subsidiary. Referring to that regulation,
151
Risk Management
Disclosure Of General Risk Exposure
General Risk
Table 1. Key Metrics (KM1) - Bank Stand Alone
31 December 2021
(in Million Rp)
No Description
Available Capital
1 Common Equity Tier 1 (CET1)
2 Tier 1
3 Total Capital
Risk Weighted Assets
4 Total Risk Weighted Assets (RWA)
The Percentage of Capital Ratio from RWA
5 CET1 Ratio (%)
6 Tier 1 Ratio (%)
7 Total Capital Ratio (%)
Additional CET1 as a buffer requirements from RWA
8 Capital conservation buffer (2.5% of ATMR) (%)
9 Countercyclical Buffer (0 - 2.5% of ATMR) (%)
10 Capital Surcharge for Systemic Bank (1% - 2.5%) (%)
11 Total CET1 as buffer requirements (row 8 + row 9 + row 10)
12 CET1 component for buffer
Basel III leverage ratio
13 Total Exposure
14 Leverage ratio, including the impact of any applicable temporary exemption of central bank reserves (%)
14b Leverage ratio, excluding the impact of any applicable temporary exemption of central bank reserves (%)
14c Leverage Ratio, including the impact of any applicable temporary exemption of central bank reserves,
which includes the average value of the carrying value of Securities Financing Transactions (SFT) on a
gross basis (%).
14d Leverage Ratio, Excluding the impact of any applicable temporary exemption of central bank reserves,
gross basis (%).
Liquidity Coverage Ratio (LCR)
15 Total high-quality liquid assets (HQLA)
16 Total net cash outflow
17 LCR ratio (%)
Net Stable Funding Ratio (NSFR)
18 Total available stable funding
19 Total required stable funding
20 NSFR ratio
* Based on OJK letter No.S-12/D.03/2020 regarding Advanced Relaxation Policy in order to Support National Economic Recovery
Program in Banking Sector, the obligation to fulfil the Capital Conservation Buffer is temporarily removed until 31 March 2021.
** The relaxation policy is completed on March 31, 2021, thus the Capital Conservation Buffer has effectively counted in
accordance with OJK Regulation No. 34/POJK.03/2016 about Minimum Capital Adequacy Requirements for Commercial
Banks.
152
Risk Management
Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020
31,014,115 31,721,384 31,541,585 31,052,432 31,034,546

31,014,115 31,721,384 31,541,585 31,052,432 31,034,546
32,251,735 32,940,054 32,746,977 32,252,629 32,236,393
122,255,943 124,002,606 123,389,653 122,937,738 125,974,355
25.37% 25.58% 25.56% 25.26% 24.64%

25.37% 25.58% 25.56% 25.26% 24.64%
26.38% 26.56% 26.54% 26.23% 25.59%
2.50%**) 2.50%**) 2.50%**) 0.00%*) 0.00%*)

0.00% 0.00% 0.00% 0.00% 0.00%
1.00% 1.00% 1.00% 1.00% 1.00%
3.50% 3.50% 3.50% 1.00% 1.00%
17.38% 17.56% 17.54% 17.23% 16.59%
177,529,796 173,182,004 176,706,872 175,622,829 179,259,522

17.47% 18.32% 17.85% 17.68% 17.31%
17.47% 18.32% 17.85% 17.68% 17.31%
17.57% 18.02% 17.41% 17.09% 16.77%
17.57% 18.02% 17.41% 17.09% 16.77%
46,261,467 48,974,413 54,015,310 55,140,743 51,026,785

24,905,018 25,516,531 27,069,231 27,704,992 26,960,649
185,75% 191.93% 199.55% 199.03% 189.26%
123,381,969 121,972,873 124,001,764 123,422,643 127,327,039
85,598,106 84,822,504 86,022,499 84,906,869 85,187,371

144.14% 143.80% 144.15% 145.36% 149.47%
153
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Table 1. Key Metrics (KM1) - Consolidated
31 December 2021
(in Million Rp)
No Description
Available Capital
1 Common Equity Tier 1 (CET1)
2 Tier 1
3 Total Capital
Risk Weighted Assets
4 Total Risk Weighted Assets (RWA)
The Percentage of Capital Ratio from RWA
5 CET1 Ratio (%)
6 Tier 1 Ratio (%)
7 Total Capital Ratio (%)
Additional CET1 as a buffer requirements from RWA
8 Capital conservation buffer (2.5% of ATMR) (%)
9 Countercyclical Buffer (0 - 2.5% of ATMR) (%)
10 Capital Surcharge for Systemic Bank (1% - 2.5%) (%)
11 Total CET1 as buffer requirements (row 8 + row 9 + row 10)
12 CET1 component for buffer
Basel III leverage ratio
13 Total Exposure
14 Leverage ratio, including the impact of any applicable temporary exemption of central bank reserves (%)
14b Leverage ratio, excluding the impact of any applicable temporary exemption of central bank reserves (%)
14c Leverage Ratio, including the impact of any applicable temporary exemption of central bank reserves,
gross basis (%).
14d Leverage Ratio, Excluding the impact of any applicable temporary exemption of central bank reserves,
gross basis (%).
Liquidity Coverage Ratio (LCR)
15 Total high-quality liquid assets (HQLA)
16 Total net cash outflow
17 LCR ratio (%)
Net Stable Funding Ratio (NSFR)
18 Total available stable funding
19 Total required stable funding
20 NSFR ratio
* Based on OJK letter No.S-12/D.03/2020 regarding Advanced Relaxation Policy in order to Support National Economic
Recovery Program in Banking Sector, the obligation to fulfil the Capital Conservation Buffer is temporarily removed until 31
March 2021.
** The relaxation policy is completed on March 31, 2021, thus the Capital Conservation Buffer has effectively counted in
accordance with OJK Regulation No. 34/POJK.03/2016 about Minimum Capital Adequacy Requirements for Commercial
Banks.
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Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020
38,974,429 39,103,781 38,594,493 38,228,398 37,969,851

38,974,429 39,103,781 38,594,493 38,228,398 37,969,851
40,275,907 40,385,159 39,876,119 39,505,611 39,277,600
150,731,797 152,838,420 153,003,096 153,773,180 157,250,615
25.86% 25.59% 25.22% 24.86% 24.15%

25.86% 25.59% 25.22% 24.86% 24.15%
26.72% 26.42% 26.06% 25.69% 24.98%
2.50%**) 2.50%**) 2.50%**) 0.00%*) 0.00%*)

0.00% 0.00% 0.00% 0.00% 0.00%
1.00% 1.00% 1.00% 1.00% 1.00%
3.50% 3.50% 3.50% 1.00% 1.00%
17.72% 17.42% 17.06% 16.69% 15.98%
199,197,996 195,161,285 199,757,317 199,865,206 206,310,845

19.57% 20.04% 19.32% 19.13% 18.40%
19.57% 20.04% 19.32% 19.13% 18.40%
19.67% 19.75% 18.89% 18.57% 17.90%
19.67% 19.75% 18.89% 18.57% 17.90%
46,364,100 49,078,395 54,058,544 55,183,919 51,068,326

24,797,359 25,868,244 27047778 28,192,784 27,170,258
186,97% 189.72% 199.86% 195,74% 187.96%
131,196,107 131,060,348 133,107,034 133,606,618 139,305,729

93,260,999 93,227,512 95,284,910 94,876,704 97,082,718
140,68% 140.58% 139.69% 140.82% 143.49%
155
Risk Management
Table 2. Difference between Consolidated and Mapping on Financial Statements in

accordance with Financial Accounting Standards with Risk Categories in accordance with
Financial Services Authority Provisions for Risk Category (LI1) - CONSOLIDATED
31 December 2021
(in Million Rp)
Carrying value as stated in the

No. Accounts
financial statement publication
ASSETS
1. Cash 2,789,555
2. Placements with Bank Indonesia 12,919,403
3. Placements with other banks 3,008,340
4. Spot and derivative / forward receivables 187,297
5. Marketable securities 35,871,469
6. Securities sold under repurchase agreements (repo) -
7. Securities purchased under resale agreements (reverse repo) 3,308,308
8. Acceptance receivables 2,061,194
9. Loans 98,258,555
10. Sharia financing 7,833,869
11. Consumer financing receivables 21,322,765
Allowance for impairment losses on consumer financing receivables -/- (1,364,566)
12. Investments 1,031,087
13. Other financial assets 1,707,652
14. Allowance for impairment losses on financial assets -/- -
a. Marketable securities (19,689)
b. Loans and Sharia financing (6,126,463)
c. Others (16,526)
15. Intangible assets 4,417,508
Accumulated amortisation on intangible assets -/- (2,718,078)
16. Fixed assets and equipment *) 5,302,978
Accumulated depreciation of fixed assets and equipment -/- (3,407,504)
17. Non earning asset -
a. Idle properties 69,105
b. Foreclosed assets 601,223
c. Suspense accounts -
d. Interbranch assets -
18. Leased receivables 292,320
19. Other assets 4,909,896
TOTAL ASET 192,239,698
LIABILITIES AND EQUITY

LIABILITIES
1. Current accounts 25,437,405
2. Savings 45,518,289
3. Time deposits 50,113,623
4. E-money -
5. Loans from Bank Indonesia -
6. Borrowings from other banks 2,284,587
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Carrying amount of each risk

In accordance In accordance with In accordance with In accordance with Does not refer to capital
with the credit risk Counterparty Credit the Securitization the Market Risk requirements or based on capital
framework Risk framework Framework Framework reduction
2,789,555 - - 195,933 -
12,919,403 - - 4,229,073 -
3,008,340 - - 2,039,850 -
- 187,297 - 1,487 -
33,940,314 - - 6,430,075 -
- - - - -
3,308,308 - - - -
2,061,194 - - 1,761,218 -
98,299,002 - - 10,808,174 -
7,833,869 - - 398,635 -
21,322,765 - - - -
(693,929) - - - -
82,078 - - - 949,009
1,688,002 - - 339,100 -
- - - - -
- - - - -
(5,059,136) - - (404,125) -
- - - (3,598) -
- - - - 4,417,508
- - - - (2,718,078)
5,302,978 - - - -
(3,407,504) - - - -
- - - - -
69,105 - - - -
601,223 - - - -
- - - - -
- - - - -
252,392 - - - -
2,043,072 - - - 2,875,122
186,361,031 187,297 - 25,795,822 5,523,561
- - - 7,964,558 -
- - - 5,553,554 -
- - - 6,330,786 -
- - - - -
- - - - -
- - - 15,171 -
157
Risk Management
31 December 2021
(in Million Rp)
Carrying value as stated in the

No. Accounts
financial statement publication
7. Spot and derivative / forward liabilities 277,212

8. Securities sold under repurchase agreements (repo) -
9. Acceptance payables 2,061,194
10. Marketable securities issued 6,750,234
11. Borrowings 4,300,546
12. Security deposits 9,831
13. Interbranch liabilities -
14. Other liabilities 10,403,719
15. Minority interest 543,951
TOTAL LIABILITIES 147,700,591
EQUITY
16. Issued and fully paid capital
a. Authorized capital 12,333,044
b. Unpaid capital -/- (6,337,467)
c. Treasury stock -/- -
17. Additional paid-up capital -
a. Agio 7,985,971
b. Disagio -/- -
c. Capital paid in advance -
d. Others 8,242
18. Other comprehensive income -
b. Gains 408,070
c. Lossess -/- -
19. Reserves -
a. General reserves 480,283
b. Specific reserves -
20. Retained earnings -
a. Previous years 28,440,481
b. Current year 1,573,113
c. Deviden paid -/- (352,630)
TOTAL EQUITY ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT ENTITY 44,539,107
TOTAL EQUITY 44,539,107
TOTAL LIABILITIES AND EQUITY 192,239,698
*) The carrying amount column as stated in the financial statement publication may differ from the sum of all the carrying amount
of each risk, because there are items that are calculated on more than one risk framework, or there are items that are not
included in the risk framework at all.
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Carrying amount of each risk

In accordance In accordance with In accordance with In accordance with Does not refer to capital
with the credit risk Counterparty Credit the Securitization the Market Risk requirements or based on capital
framework Risk framework Framework Framework reduction
- - - 23,437 -
- - - - -
- - - 1,761,218 -
- - - - -
- - - 3,177,119 -
- - - 476 -
- - - - -
- - - 57,544 -
- - - - -
- - - 24,883,863 -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - 224 -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - 224 -
-
- - - 24,884,087 -
159
Risk Management
Table 3. Main differences between Carrying Value according to Financial Accounting

Standards and Exposure in accordance with OJK Regulations (LI2) - Consolidated
31 December 2021
(in Million Rp)
Items :
Component Total Counterparty
Credit Risk Securitization Market Risk
Credit Risk
Framework Framework Framework
Framework
1 Carrying value of assets is in 212,344,150 186,361,031 0 187,297 25,795,822
accordance with the prudential
consolidated coverage (as reported in
table LI1)
2 Carrying amount of the liability is 24,884,087 0 0 0 24,884,087
in accordance with the prudential
consolidated coverage (as reported in
table LI1)
3 Total net value is in accordance with 237,228,237 186,361,031 0 187,297 50,679,909
the prudential consolidated coverage
4 Administrative account value 40,505,576 5,330,950 0 420,315 34,754,311
5 Difference in valuation 0 0 0 0 0
6 Difference because netting rules, 0 0 0 0 0
other than those included in line 2.
7 Difference in provision 0 0 0 0 0
8 Difference is due to prudential filters 0 0 0 0 0
Exposure value considered is in 277,733,813 191,691,981 0 607,612 85,434,220
accordance with the consolidated
scope of the prudential provisions
CAPITAL RISK
Table 4. Capital Composition (CC1)
31 December 2021
(in Million Rp)
Ref. No. from
No. Component Bank Consolidated Publication
Balance Sheet
Common Equity Tier 1 capital: instruments and reserves
1 Directly issued qualifying common share (and equivalent for 13,981,548 13,981,548 a+b+c
non-joint stock companies) capital plus related stock surplus
2 Retained earnings 29,660,964 29,660,964 d+e+f
3 Accumulated other comprehensive income (and other reserves) 962,662 962,662 g+h+i
4 Directly issued capital subject to phase out from CET1 (only N/A N/A
applicable to non-joint stock companies)
5 Common share capital issued by subsidiaries and held by third - -
parties (amount allowed in group CET1)
6 Common Equity Tier 1 capital before regulatory adjustments 44,605,174 44,605,174
Common Equity Tier 1 capital: regulatory adjustments
7 Prudential valuation adjustments - -
8 Goodwill (net of related tax liability) - (1,074,532) j+k
9 Other intangibles other than mortgage-servicing rights (net of (455,599) (624,898) l+m
related tax liability)
10 Deferred tax assets that rely on future profitability excluding those N/A N/A
arising from temporary differences (net of related tax liability)
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31 December 2021
(in Million Rp)
Ref. No. from
Balance Sheet
11 Cash-flow hedge reserve N/A N/A
12 Shortfall of provisions to expected losses N/A N/A
13 Securitisation gain on sale (as set out in paragraph 562 of Basel - -
II framework)
14 Gains and losses due to changes in own credit risk on fair - -
valued liabilities
15 Defined-benefit pension fund net assets N/A N/A
16 Investments in own shares (if not already netted off paid-in N/A N/A
capital on reported balance sheet)
17 Reciprocal cross-holdings in common equity - -
18 Investments in the capital of banking, financial and insurance N/A N/A
entities that are outside the scope of regulatory consolidation,
net of eligible short positions, where the bank does not own
more than 10% of the issued share capital (amount above 10%
threshold)
19 Significant investments in the common stock of banking, N/A N/A
financial and insurance entities that are outside the scope of
regulatory consolidation, net of eligible short positions (amount
above 10% threshold)
20 Mortgage servicing rights (amount above 10% threshold) - -
21 Deferred tax assets arising from temporary differences (amount N/A N/A
above 10% threshold, net of related tax liability)
22 Amount exceeding the 15% threshold N/A N/A
23 of which : significant investments in the common stock of N/A N/A
financials
24 of which : mortgage servicing rights N/A N/A
25 of which : deferred tax assets arising from temporary differences N/A N/A
26 National specific regulatory adjustments
26a Under provision between regulatory provision and impairment - -
value on productive assets
26b Under provision between regulatory provision and impairment (107,184) (107,184)
value on non productive assets
26c Deferred tax assets (2,533,371) (2,875,122) n
26d Investments (10,494,905) (949,009) o
26e Short of capital on insurance subsidiary company - -
26f Capital securitisation exposure - -
26g Others - -
27 Regulatory adjustments applied to Common Equity Tier 1 due - -
to insufficient Additional Tier 1 and Tier 2 to cover deductions
28 Total regulatory adjustments to Common Equity Tier 1 (13,591,059) (5,630,745)
29 Common Equity Tier 1 capital (CET1) 31,014,115 38,974,429
Additional Tier 1 capital: instruments
30 Directly issued qualifying Additional Tier 1 instruments plus related - -
stock surplus
31 of which: classified as equity under applicable accounting standards - -
32 of which: classified as liabilities under applicable accounting - -
standards
33 Directly issued capital instruments subject to phase out from N/A N/A
Additional Tier 1
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Risk Management
31 December 2021
(in Million Rp)
Ref. No. from
Balance Sheet
34 Additional Tier 1 instruments (and CET1 instruments not - -
included in row 5) issued by subsidiaries and held by third
parties (amount allowed in group AT1)
35 of which: instruments issued by subsidiaries subject to phase out N/A N/A
36 Additional Tier 1 capital before regulatory adjustments - -
Additional Tier 1 capital: regulatory adjustments
37 Investments in own Additional Tier 1 instruments N/A N/A
38 Reciprocal cross-holdings in Additional Tier 1 instruments - -
39 Investments in the capital of banking, financial and insurance N/A N/A
entities that are outside the scope of regulatory consolidation,
net of eligible short positions, where the bank does not own
more than 10% of the issued common share capital of the entity
(amount above 10% threshold)
40 Significant investments in the capital of banking, financial and N/A N/A
insurance entities that are outside the scope of regulatory
consolidation (net of eligible short positions)
41a Placement of funds in instruments AT 1 at other Banks - -
42 Regulatory adjustments applied to Additional Tier 1 due to - -
insufficient Tier 2 to cover deductions
43 Total regulatory adjustments to Additional Tier 1 capital - -
44 Additional Tier 1 capital (AT1) - -
45 Tier 1 capital (T1 = CET1 + AT1) 31,014,115 38,974,429
Tier 2 capital: instruments and provisions
46 Directly issued qualifying Tier 2 instruments plus related stock surplus 9,583 9,583 p
47 Directly issued capital instruments subject to phase out from Tier 2 N/A N/A
48 Tier 2 instruments (and CET1 and AT1 instruments not included - -
in rows 5 or 34) issued by subsidiaries and held by third parties
(amount allowed in group Tier 2)
49 of which: instruments issued by subsidiaries subject to phase out N/A N/A
50 Provisions 1,228,037 1,291,895
51 Tier 2 capital before regulatory adjustments 1,237,620 1,301,478
Tier 2 capital: regulatory adjustments
52 Investments in own Tier 2 instruments N/A N/A
53 Reciprocal cross-holdings in Tier 2 instruments and other TLAC - -
liabilities
54 Investments in the other TLAC liabilities of banking, financial N/A N/A
and insurance entities that are outside the scope of regulatory
consolidation and where the bank does not own more than
10% of the issued common share capital of the entity: amount
previously designated for the 5 % threshold but that no longer
meets the conditions (for G-SIBs only)
55 Significant investments in the capital and other TLAC liabilities N/A N/A
of banking, financial and insurance entities that are outside the
scope of regulatory consolidation (net of eligible short positions)
56a Sinking fund - -
56b Placement of funds in Tier 2 instruments at other Banks - -
57 Total regulatory adjustments to Tier 2 capital - -
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31 December 2021
(in Million Rp)
Ref. No. from
Balance Sheet
58 Tier 2 capital (T2) 1,237,620 1,301,478
59 Total capital (TC = T1 + T2) 32,251,735 40,275,907
60 Total risk weighted assets 122,255,943 150,731,797
Capital ratios and buffers
61 Common Equity Tier 1 (as a percentage of risk weighted assets) 25.37% 25.86%
62 Tier 1 (as a percentage of risk weighted assets) 25.37% 25.86%
63 Total capital (as a percentage of risk weighted assets) 26.38% 26.72%
64 Institution specific buffer requirement (minimum CET1 3.50% 3.50%
requirement plus capital conservation buffer plus countercyclical
buffer requirements plus G-SIB buffer requirement, expressed as
a percentage of risk weighted assets)
65 of which: capital conservation buffer requirement 2.50% 2.50%
66 of which: bank specific countercyclical buffer requirement 0.00% 0.00%
67 of which: G-SIB buffer requirement 1.00% 1.00%
68 Common Equity Tier 1 available to meet buffers (as a percentage 17.38% 17.72%
of risk weighted assets)
National minima (if different from Basel 3)
69 National Common Equity Tier 1 minimum ratio (if different from N/A N/A
Basel 3 minimum)
70 National Tier 1 minimum ratio (if different from Basel 3 minimum) N/A N/A
71 National total capital minimum ratio (if different from Basel 3 N/A N/A
minimum)
Amounts below the thresholds for deduction (before risk weighting)
72 Non-significant investments in the capital and other TLAC N/A N/A
liabilities of other financial entities
73 Significant investments in the common stock of financials N/A N/A
74 Mortgage servicing rights (net of related tax liability) N/A N/A
75 Deferred tax assets arising from temporary differences (net of N/A N/A
related tax liability)
Applicable caps on the inclusion of provisions in Tier 2
76 Provisions eligible for inclusion in Tier 2 in respect of exposures N/A N/A
subject to standardised approach (prior to application of cap)
77 Cap on inclusion of provisions in Tier 2 under standardised N/A N/A
approach
78 Provisions eligible for inclusion in Tier 2 in respect of exposures N/A N/A
subject to internal ratings-based approach (prior to application
of cap)
79 Cap for inclusion of provisions in Tier 2 under internal ratings- N/A N/A
based approach
Capital instruments subject to phase-out arrangements (only applicable between 1 Jan 2018 and 1 Jan 2022)
80 Current cap on CET1 instruments subject to phase out N/A N/A
arrangements
81 Amount excluded from CET1 due to cap (excess over cap after N/A N/A
redemptions and maturities)
82 Current cap on AT1 instruments subject to phase out N/A N/A
arrangements
83 Amount excluded from AT1 due to cap (excess over cap after N/A N/A
84 Current cap on T2 instruments subject to phase out arrangements N/A N/A
85 Amount excluded from T2 due to cap (excess over cap after N/A N/A
163
Risk Management
Table 5. Capital Reconciliation (CC2)

31 December 2021
(in Million Rp)
No. Accounts Bank Consolidated Ref. No.

ASSETS
1 Cash 2,635,688 2,789,555
2 Placements with Bank Indonesia 12,919,403 12,919,403
3 Placements with other banks 2,131,578 3,008,341
4 Spot and derivative receivables 182,737 187,297
5 Marketable securities owned 35,949,370 35,871,469
6 Securities sold under repurchase agreements (repo) - -
7 Securities purchased under resale agreements (reverse repo) 3,308,308 3,308,308
8 Acceptance receivables 2,061,194 2,061,194
9 Loans 98,937,722 98,258,555
10 Sharia financing 7,833,869 7,833,869
11 Consumer financing receivables - 21,322,765
Allowance for impairment losses on consumer financing - (1,364,566)
receivables -/-
12 Investments
a. Calculated as capital deduction factor 10,494,905 949,009 o
b. Not calculated as capital deduction factor 82,078 82,078
13 Other financial assets 1,707,652 1,707,652
14 Allowance for impairment losses on financial assets -/-
a. Marketable securities (19,689) (19,689)
b. Loans (6,126,463) (6,126,463)
c. Others (4,819) (16,526)
15 Intangible assets
a. Goodwill - 1,906,685 j
b. Other Intangible assets 2,015,553 2,510,823 l
Accumulated amortisation on intangible assets -/-
a. Goodwill - (832,153) k
b. Other Intangible assets (1,559,954) (1,885,925) m
16 Fixed assets and equipment 4,020,584 5,302,978
Accumulated depreciation of fixed assets and equipment -/- (2,614,645) (3,407,504)
17 Non earning asset
a. Idle properties 69,105 69,105
b. Foreclosed assets 601,223 601,223
c. Suspense accounts - -
d. Interbranch assets - -
18 Leased receivables - 292,320
19 Other assets
a. Deferred tax assets calculated as capital deduction factor 2,533,371 2,875,122 n
b. Other assets not calculated as capital deduction factor 1,536,710 2,034,773
Total Assets 178,695,480 192,239,698
Liabilities & Equity
1 Current accounts 26,252,023 25,437,405
2 Savings 45,518,289 45,518,289
3 Time deposits 50,113,623 50,113,623
4 E-money - -
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31 December 2021
(in Million Rp)
No. Accounts Bank Consolidated Ref. No.

5 Loans from Bank Indonesia - -
6 Borrowings from other banks 2,284,587 2,284,587
7 Spot and derivative / forward liabilities 123,098 277,212
8 Securities sold under repurchase agreements (repo) - -
9 Acceptance payables 2,061,194 2,061,194
10 Marketable securities issued 851,316 6,750,234
11 Borrowings
a. Can be calculated in the capital component 9,583 9,583 p
b. Can not be calculated in the capital component 15,417 4,290,963
12 Security deposits 9,831 9,831
13 Interbranch liabilities - -
14 Other liabilities 6,917,412 10,403,719
15 Minority interest - 543,951
Total Liabilities 134,156,373 147,700,591
16 Issued and fully paid capital
a. Authorized capital 12,333,044 12,333,044 a
b. Unpaid capital -/- (6,337,467) (6,337,467) b
c. Treasury stock -/- - -
17 Additional paid-up capital
a. Agio 7,985,971 7,985,971 c
b. Disagio -/- - -
c. Capital paid in advance - -
d. Others 8,242 8,242
18 Other comprehensive income
a. Gain
i. Can be calculated in the capital component 482,379 482,379 g
ii. Can not be calculated in the capital component (74,309) (74,309)
b. Losses
i. Can be calculated in the capital component - - h
ii. Can not be calculated in the capital component - -
19 Reserves
a. General reserves 480,283 480,283 i
b. Specific reserves - -
20 Retained earnings
a. Previous years 28,440,481 28,440,481 d
b. Current year
i. Can be calculated in the capital component 1,573,113 1,573,113 e
ii. Can not be calculated in the capital component - -
c. Dividend paid (352,630) (352,630) f
Total Equity Attributable to Equity Holders of The Parent 44,539,107 44,539,107
Equity
Total Equity 44,539,107 44,539,107
Total Liabilities and Equity 178,695,480 192,239,698
165
Risk Management
Table 6. Main Capital Instrument Features Reconciliation and TLAC-Eligible (CCA)
31 December 2021
Main Capital Instrument Features Reconciliation and TLAC-Eligible (CCA)

No
Question
1 Issuer
2 Identification Number
3 Legal applied
Means by which enforceability requirement of Section 13 of the TLAC Term Sheet is achieved (for other TLAC-
eligible instruments governed by foreign law)
Instrument Treatment based on CAR requirements
4 During the transition period
5 After the transition period
6 Are the instrument eligible for Individual/Consolidated or Consolidated and Individual
7 Instrument Type
8 The amount recognized in the CAR calculation (in millions IDR)
9 Par Value of the instrument (in millions IDR)
10 Accounting Classification
11 Publication Date
12 No maturity (perpertual) or with maturity
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Answer Answer
PT Bank Danamon Indonesia Tbk PT Bank Danamon Indonesia Tbk
Exchange Code : BDMN | ISIN : ID1000094204 N/A
Indonesian Law Indonesian Law
N/A N/A
N/A N/A
CET1 Tier 2
Consolidated and Individual Consolidated and Individual
Common Stock Subordinated Loan
13,981,548 9,583
5,995,577 25,000
Equity Liability - Amortized cost
SAHAM SERIE A Loan proceed received on 4
• Initial Public Offering on December 8, 1989 of 12,000,000 shares - par value per December 2018
share of Rp 1,000.
• Founders’ shares of 22,400,000 sheet.
• Bonus shares from additional paid-in capital capitalisation of 34,400,000 shares in 1992.
• Shares from Limited Public Offering with Pre-emptive Rights (Rights Issue) I of
224,000,000 shares - par value per share of Rp 1,000, on 24 December 1993.
• Bonus shares from additional paid-in capital capitalisation of 112,000,000 shares
- par value per share of Rp 1,000 in 1995.
• Shares from Limited Public Offering with Pre-emptive Rights (Rights Issue) II of
560,000,000 shares - par value per share of Rp 1,000, on 29 April 1996.
• Founders’ shares of 155,200,000 shares in 1996.
• Shares from the changes in the par value of shares of 1,120,000,000 sheet - par
value per share of Rp 500 in 1997.
• Increase in par value to Rp 10,000 per share through the reduction in total number
of shares (reverse stock split) to 112,000,000 shares in 2001.
• Increase in par value to Rp 50,000 per share through the reduction in total number
of shares (reverse stock split) to 22,400,000 shares in 2003.
SAHAM SERIE B
• Shares from Limited Public Offering with Pre-emptive Rights (Rights Issue) III of
215,040,000,000 shares - par value per share of Rp 5 on 29 March 1999.
• Shares issued in order to merger with PDFCI of 45,375,000,000 shares - par value per
share of Rp 5 in 1999.
• Shares issued in order to merger with Bank Tiara of 35,557,200,000 shares - par value
per share of Rp 5 in 2000.
• Shares issued in order with the Bank’s merger with 7 Taken-Over (BTO) of
192,480,000,000 shares - par value per share of Rp 5 in 2000.
• Increase in par value to Rp 100 per share through the reduction in total number of
shares (reverse stock split) to 24,422,610,000 shares in 2001.
• Increase in par value to Rp 500 per share through the reduction in total number of
shares (reverse stock split) to 4,884,522,000 shares in 2003.
• Shares from Limited Public Offering with Pre-emptive Rights (Rights Issue) IV of
3,314,893,116 shares - par value per share of Rp 500, on 20 March 2009.
• Shares from Limited Public Offering with Pre-emptive Rights (Rights Issue) V of
1,162,285,399 shares - par value per share of Rp 1,000, on 24 August 2011.
• Total Series B Shares issued start from 01 July 2015 until 30 June 2011 by the Company
to, and placed/taken by, the members of the Board of Directors that determined by
the Board of Commissioners of the Company and senior employees that determined
by the Board of Company Directors (“Option Beneficiaries”) who have exercised the
option rights granted to them under the E/M SOP program are 200,542,850 Series B
shares or equals with Rp 100,271,425,000 with a par value per share of Rp 500 in the
period between 2005 and 2011.
• Shares conversion due to merger with PT Bank Nusantara Parahyangan Tbk (Bank
BNP), through an additional of 188,909,505 shares B series (with a par value per share
of Rp 500) efective at 1 May 2019.
Perpetual With maturity
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Risk Management

No
Question
13 Due Date
14 Execution of Call Option based on Banks' supervisor approval
15 Date of call option, amounts withdrawal and other call option requirements (if any)
16 Subsequent call option
Coupon / Dividen
17 Dividend or coupon with fixed or floating interest
18 Coupon rate or other index to which reference
19 Whether or not dividend stopper
20 Fully discretionary; partial or mandatory
21 Any step up feature or other incentive
22 Non-cumulative or cumulative
23 Convertible atau non-convertible
24 If convertible, mention its trigger point
25 If convertible, whether whole or in part
26 If convertible, how the conversion rate
27 If convertible; whether mandatory or optional
28 If convertible, specify the type of conversion instrument
29 If convertible, mention the issuer of instrument it converts into
30 Write-down feature
31 If write-down, mention its trigger point
32 If write-down, whether whole or in part

33 If write-down; permanent or temporary
34 If temporary write-down, explain the write-up mechanism
34a Type of subordination
35 Instrument hierarchy when the liquidation is done
36 Is there non-compliant transitioned features

37 If yes, specify non-compliant features
168
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Responsibility
Corporate Social
Risk Management

Answer Answer
No maturity date 4 December 2023
No No
N/A N/A
N/A N/A
Floating Fixed
N/A 9.27%
Yes No
Mandatory Mandatory
No No
Non-cumulative Cumulative
Non-convertible Non-convertible
N/A N/A
N/A N/A
N/A N/A
N/A N/A
N/A N/A
N/A N/A
No Yes
N/A (i) Common Equity Tier 1 Ratio
become lower than: (a) 8%
of its RWA; or (b) as required
by prevailing law; or
(ii) CAR Ratio become lower
than: (a) 13.5%; or (b) as
required by prevailing law; or
(iii) Regulators decide that
Debtor’s business continuity
is potential interrupted
N/A whole or in part
N/A Permanent
N/A N/A
N/A Yes
• Paid-up capital instrument and it’s subordinated to other capital Subordinated Loan will be
instrument. subordinated, Creditors wil
• Available to absorb losses incurred prior or at the time of liquidation. receive payment by hierarchy
after Separtist Creditors,
Preference Creditors,
Preference Creditors,
Concurrent Creditors, and
Depositors have been repaid
in accordance with prevailing
laws and regulations in
Indonesia when liquidation is
done
Tidak No
N/A N/A
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Risk Management
Table 7. Leverage Ratio Report - Bank Stand Alone
31 December 2021
(in Million Rp)
Total
No. Information
Individual Consolidated
1 Total assets on the balance sheet in published financial statements (gross value 184,846,451 199,715,877
before deducting impairment provision)
2 Adjustment for investment in Bank, Financial Institution, Insurance Company, - -
and/or other entities that consolidated based on accounting standard yet out
of scope consolidation based on Otoritas Jasa Keuangan
3 Adjustment for portfolio of financial asset that have underlying which already - -
transferred to without recourse securitization asset as stipulated in OJK's
statutory regulations related to Prudential Principles in Securitization Asset
Activity for General Bank
4 Adjustment to temporary exception of Placement to Bank Indonesia in accordance N/A N/A
Statutory Reserve Requirement ( if any)
5 Adjustment to fiduciary asset that recognized as balance sheet based on N/A N/A
accounting standard yet excluded from total exposure in Leverage Ratio
calculation.
6 Adjustment to acquisition cost and sales price of financial assets regularly - -
using trade date accounting method
7 Adjustment to qualified cash pooling transaction as stipulated in this OJK's - -
regulation.
8 Adjustment to exposure of derivative transaction 612,155 775,823
9 Adjustment to exposure of Securities Financing Transaction (SFT) as example: - -
reverse repo transaction
10 Adjustment to exposure of Off Balance Sheet transaction that already multiply 11,706,036 11,706,036
with Credit Conversion Factor
11 Prudent valuation adjustments in form of capital deduction factor and (19,634,846) (12,999,739)
impairment provision
12 Other adjustments - -
13 Total exposure in Leverage Ratio Calculation 177,529,796 199,197,997
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Responsibility
Corporate Social
Risk Management
Table 7. Leverage Ratio Calculation Report
31 December 2021
(in Million Rp)
No Description 31 September 31 September

December 30, 2021 December 30, 2020
2021 2020
On Balance Sheet Exposure
1 On-balance sheet exposures (excluding derivatives 181,320,683 177,733,041 196,236,614 193,544,374
and securities financing transactions (SFTs), but
including collateral). (gross value before deducting
impairment provision)
2 Gross-up for derivatives collateral provided where - - - -
deducted from balance sheet assets pursuant to
the accounting standard
3 (Deductions of receivable assets for cash variation - - - -
margin provided in derivatives transactions)
4 (Adjustment for securities received under securities - - - -
financing transactions that are recognised as an
asset)
5 (Impairment provision those assets inline with (6,150,971) (5,044,713) (7,527,244) (6,485,237)
accounting standard applied)
6 (Asset amounts deducted in determining Basel III (13,483,875) (12,734,505) (5,523,561) (5,352,108)
Tier 1 capital and regulatory adjustments)
7 Total on-balance sheet exposures 161,685,837 159,953,823 183,185,809 181,707,029
Derivative Exposure
8 Replacement cost associated with all derivatives 255,832 229,524 262,216 238,356
transactions (where applicable net of eligible cash
variation margin and/or with bilateral netting)
9 Add-on amounts for potential future exposure 539,060 608,287 700,904 825,530
associated with all derivatives transactions
10 (Exempted central counterparty (CCP) leg of client- N/A N/A N/A N/A
cleared trade exposures)
11 Adjusted effective notional amount of written - - - -
credit derivatives
12 (Adjusted effective notional offsets and add-on - - - -
deductions for written credit derivatives)
13 Total derivative exposures 794,892 837,811 963,120 1,063,886
Securities financing transaction exposures (SFT)
14 Gross SFT Assets 3,343,031 1,051,027 3,343,031 1,051,027
15 (Netted amounts of cash payables and cash - - - -
receivables of gross SFT assets)
16 Counterparty credit risk exposure for SFT assets - - - -
refers to Current Exposure calculation
17 Agent transaction exposures - - - -
18 Total securities financing transaction exposures 3,343,031 1,051,027 3,343,031 1,051,027
Other off-balance sheet exposures
19 Off-balance sheet exposure at gross notional 71,559,584 65,156,721 71,559,584 65,156,720
amount
20 (Adjustment from the result of multiplying (59,764,683) (53,715,252) (59,764,683) (53,715,251)
commitment payable or contingent payables
with credit conversion factor and deducted with
impairment provision)
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Risk Management
31 December 2021
(in Million Rp)
No Description 31 September 31 September

December 30, 2021 December 30, 2020
2021 2020
21 (Impairment provision for off balance sheet inline (88,865) (102,126) (88,865) (102,126)
with accounting standard)
22 Off-balance sheet items 11,706,036 11,339,343 11,706,036 11,339,343
Capital and Total Exposure
23 Tier 1 Capital 31,014,115 31,721,384 38,974,429 39,103,781
24 Total Exposure 177,529,796 173,182,004 199,197,996 195,161,285
Leverage Ratio
25 Basel III leverage ratio (including the impact of any 17.47% 18.32% 19.57% 20.04%
applicable temporary exemption of central bank
reserves)
25a Basel III leverage ratio (excluding the impact of any 17.47% 18.32% 19.57% 20.04%
reserves)
26 National minimum leverage ratio requirement 3.00% 3.00% 3.00% 3.00%
27 Applicable leverage buffers N/A N/A N/A N/A
Disclosures of mean values
28 Mean value of gross SFT assets, after adjustment 2,309,779 3,900,511 2,309,779 3,900,511
for sale accounting transactions and netted of
amounts of associated cash payables and cash
29 Quarter-end value of gross SFT assets, after 3,343,031 1,051,027 3,343,031 1,051,027
adjustment for sale accounting transactions and
netted of amounts of associated cash payables
and cash receivables
30 Total exposures (including the impact of any 176,496,544 176,031,488 198,164,744 198,010,769
reserves) incorporating mean values from row
28 of gross SFT assets (after adjustment for sale
accounting transactions and netted of amounts of
associated cash payables and cash receivables)
30a Total exposures (excluding the impact of any 176,496,544 176,031,488 198,164,744 198,010,769
31 Basel III leverage ratio (including the impact of any 17.57% 18.02% 19.67% 19.75%
31a Basel III leverage ratio (excluding the impact of any 17.57% 18.02% 19.67% 19.75%
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Risk Management
Risk Management Focus and Activities in 2021

In accordance with the Bank’s business plan, in 2021 Danamon continued to conduct the previous year’s programs
and implement several new programs, as follows:
Risk Activities
Risk Management • Implementation of individual and consolidated Risk Management in the Bank and its subsidiary.
in General • Improvement of the Risk Profile report in accordance with regulatory requirements.
• Preparation and submission of a Sustainable Finance Action Plan for the period of 2022-2026 in
order to fulfil POJK No. 51/POJK.03/2017 regarding the Implementation of Sustainable Finance
for Financial Service Institutions, Issuers, and Public Companies.
• Implementation of programs stated in the Sustainable Finance Action Plan.
• Update of Risk Management Policy – Bank and Consolidated has been done.
• Update of Sustainability Policy and Sustainability Guideline related to Credit has been done.
• Update Recovery Plan in accordance with POJK No. 14/POJK.03/2017.
• Roll out Risk Academy on an ongoing basis as a means of risk-management learning by all Bank
employees through on-line/virtual training and various kinds of e-Learning modules related to
risk management.
• Implementation of ICAAP framework, which is already continuously being done by the Bank.
• Conduct bank-wide stress tests according to Basel II at least once a year.
• Participate in the Joint Stress Test exercise using templates and macroeconomy scenarios
provided by the OJK and BI.
• Perform COVID-19 Thematic Stress Test to measure its impact on the Capital Adequacy and credit quality.
• Conduct Risk Culture programs that focus on the implementation of the Three Lines of Defense
campaign.
• Comprehensively review Risk Appetite Statement (RAS), and cascade it down to the lines of
business and subsidiaries.
Credit • Monitor Internal Rating Model results for Corporate, Commercial, Financial Institution, and
Financing Company.
• Implement Early Warning Indicator for Corporate and Commercial lines of business.
• Implement a Behaviour Scorecard for Small Medium Enterprise (SME) lines of business to
support credit process.
• Implement the LLP PSAK 71 or IFRS9 models for Corporate, Commercial, Financial Institution,
Financing Company, SME, KPR, KMG, Credit Card, KTA, Micro Credit (SEMM), Auto Loan,
Consumption, and Investment, starting January 2020, as according to OJK regulations.
• Revamp and provide guidance for the implementation of the Credit Risk Policy, which is to be
applied bank-wide in order to in line with Bank Indonesia or OJK regulations, as well as with the
internal policies and risk appetite of Danamon.
• Revamp the stimulus memo regarding the COVID-19 impact in order to implement POJK No.
11/POJK.03/2020, POJK No. 48/POJK.03/2020, and POJK No. 17/POJK.03/2021, in Danamon,
including review the implementation of the memo on each LOB, and monitor the performance
of the restructured credit portfolio and the provision adequacy.
• Conduct regular reviews of industry classifications based on the risk level (high risk restricted,
high risk, medium risk, and low risk), as well as determine industry risk appetite to ensure the
industry growth is aligned with the determined threshold.
• Stipulate the authority for Credit approval in the Head Office in each LOB, including the approval
authority for COVID-19 credit restructuring.
• Review EB and SME Credit Guidelines, and revise credit criteria for segments with bad
performances and set caps and triggers for high-risk segments.
• Limit lending to high-risk segments such as UPL.
• Stop lending high-risk loans in Micro Credit (SEMM) and strengthen the collection strategy.
• Review new initiative programs in the digital segment and MUFG Collaboration in order to keep
them in line with regulations and Danamon’s risk appetite.
• Regularly review all relevant procedures, policies, and limits, and make adjustments if necessary,
including any adjustments required by OJK/BI regulations and those of other relevant authorities.
• Regularly review product programs, in terms of portfolios, criteria, restrictions, and other
requirements, and make necessary adjustments.
• Perform back-testing periodically to assess the adequacy of credit provision. If necessary,
addition of credit provision will be done based on the back-testing results.
• Credit Quality Assurance (CQA) as a second line of defense that is responsible for conducting
independent forward-looking credit reviews/monitoring, where currently the coverage is only
to regional branches that have Enterprise Banking (EB) portfolios. CQA functions are to provide
assurance on the appropriateness of credit decision-making, review adherence to credit
guidelines and methodologies, and review the processes and output of credit approval.
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Risk Management
Risk Activities
Operational, • Improve the independence of the functions and roles of operational risk managers in the lines
Fraud & QA of business, support functions, and subsidiary.
• Refine the Operational Risk Management System (ORMS) application to comprehensively
improve its effectiveness in operational risk management at the Bank and in its subsidiary.
• Build awareness of Operational Risk Management through e-Learning, Risk Academy modules,
email blasts, and anti-fraud-awareness campaigns. The purpose is to enhance awareness
throughout the whole of management and all employees about the importance of operational
risk management.
• Improve implementation of ORPA (Operational Risk Pre-Assessment) to review the risks of new
strategic initiatives, including the recommendations for risk mitigation.
• Improve the implementation of product/system/process reviews for operational risk reviews,
including risk mitigation.
• Implement the Self-Raise Issue to provide a tool for employees to raise an issue that potentially
arise operational risks.
• Implement an escalation mechanism for potential/operational risk events.
• Implement Risk Acceptance to ensure that even if some issues cannot be mitigated, the
process/activity will be carried out and the risk still be borne by the Bank, and they should be
approved by the relevant management.
• Enhance QA methodologies and supporting systems, and improve the QA Policy.
• Improve awareness of risk control.
• Improve the ability for early detection of potential fraud by developing a fraud detection system
and providing a whistle-blower channel through an independent third party.
• Build commitment and awareness of fraud through the obligation of the Anti-Fraud Integrity
Pact signed by all Board of Directors, Board of Commissioners, and all employees of Danamon.
• Review and update the anti-fraud policy and framework that is aligned with regulations.
• Update the Business Continuity Management (BCM) policy according to the latest conditions.
Technology and • Updating the Bank’s information security policy documents to cover the provisions for the use
Information of social media, including updating the guidance documents regarding the classification of
Security information applicable to the Bank.
• Continuing the implementation of the cyber-threat modelling system (Cyberthreat Modelling)
to carry out cyber-risk identification for an application at an early stage so that it can be
accommodated and mitigated properly in the application development process.
• Improve internal control processes so that they can adequately minimize inherent and residual
risks and their impacts on management and the use of Information Technology Services.
• Carry out consultation and communication functions with stakeholders related to risk
management involving the use of Information Technology Services and information security in
the first line of defense.
• Develop and update the tools used to carry out the implementation cycle of the Information
Technology Risk Management Policy.
• Implement Danamon’s Information Security Policy in stages, according to the priority and focus
of the approved implementation strategy, including the development of tools to improve the
monitoring process.
• Continuing the implementation of the Information Security Risk Management framework for
vendors who process Danamon’s sensitive data classified as confidential/strictly confidential.
• Continuing the information security awareness program through various available media,
including by starting to update the bank’s internal training materials with a new approach.
Change Risk • Has a Change Risk Management division under the Integrated Risk Directorate that is responsible
Management for collaborating with Bank-wide stakeholders involved in transformation projects to ensure risk
elements (appetite, safeguards, and controls) are always taken into account when planning and
implementing major projects.
• Ensure timely escalation of issues and proper mitigation of risks that arise directly or indirectly from
the execution of various bank-wide strategic transformation/change management projects.
• Supervise the development of policies, procedures, and guidelines, as well as governance and
oversight, of all significant bank-wide transformation programs and/or Change Management Projects
within the second line of defense.
• Carry out a PMO function if required and as assigned, in collaboration with internal and external
stakeholders when planning, coordinating, and monitoring the implementation of strategic
transformation projects, and also ensuring the adequacy of project governance, risk identification
and mitigation, communication, and escalation to senior management.
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Risk Management
Risk Activities
Market and • Update the Bank’s Market and Liquidity Risks limit structures and policies.
Liquidity • Validation of the market and liquidity risk measurement methodologies, including those for
supporting new Treasury products.
• Obtain validation from independent external parties for the Bank’s policies, methodologies, and
reporting results produced by the ALM System related to Liquidity Coverage Ratio (LCR), Net
Stable Funding Ratio (NSFR), and Interest Rate Risk in Banking Book (IRRBB).
• Update and enhance the ALM System to support the calculation and reporting of alignment in
regards to LCR, NSFR, and IRRBB.
• Implement Big Data as a data source used by the ALM System, which is in line with the Bank’s
strategy of using Big Data as the main data source.
• Study and review the OJK Consultative Paper and participate in a Forum Group Discussion (FGD)
pertaining to Revisions to the Minimum Capital Adequacy Requirement for Market Risk.
• Study and review the OJK Consultative Paper on the Internal Liquidity Adequacy Assessment
Process (ILAAP).
Risk Management Efforts with Disclosure regarding Assessment of Asset Quality for
of Exposure and Implementation of Risk Commercial Bank. In regards to the COVID-19
Management pandemic, Danamon has implemented POJK
1. Credit Risk No. 11/POJK.03/2020, POJK No. 48/POJK.03/2020
Credit risk is the potential financial loss caused by and POJK No. 17/POJK.03/2021 regarding National
the failure of the borrowers or counterparties to fulfil Economy Stimulus as the COVID-19 Outbreak
their obligations in accordance with the agreement. Impact Countercyclical Policy with the objective of
Danamon’s credit risk exposure primarily arises from pushing the optimization of the Bank’s performance,
lending activities, as well as from other activities specifically of its intermediation function, managing
such as trade finance, treasury, and investments. the stability of the financial system, and supporting
Credit risk exposure can also increase through economic growth by still applying the prudential
the concentration of credit in a certain geographic principles and avoiding moral hazards.
area, as well as because of certain borrower
characteristics. anamon has a Credit Risk Policy, which is a core
D
policy and main framework for implementing
a. Credit Risk Management credit risk management. This policy and the
Danamon implements Credit Risk Management credit guidelines in the lines of business
individually and consolidated with its subsidiary, govern the credit risk management process
in ways that involve an active role by the Board comprehensively, including risk identification,
of Commissioners and the Board of Directors. measurement, monitoring, and controlling.
Danamon always applies the prudential principle Credit policies and guidelines are reviewed
and risk management as a whole to every aspect periodically to comply with prevailing regulations
of credit activity in compliance with the prevailing and adjust to Danamon’s risk appetite.
regulations, such as POJK No. 40/POJK.03/2019
Process Implementation Activities

Identification • Periodically review the Line of Business Product Program containing Industry analysis
and marketing strategies, criteria for credit approval, product performance, and the
implementation of risk management.
• Establish credit approval criteria based on the 5C approach: Character, Capacity to
Repay, Capital, Collateral, and Conditions of the Economy. As well as adjusting the risk
appetite, risk profile, and the Bank’s business plan.
Assessment • Develop and implement a credit risk assessment methodology, such as an internal
credit rating and credit scorecards that are consistently enhanced and validated to
evaluate loan disbursements and other facilities related to credit.
• Establish credit risk assessment parameters, trigger scores, and limits on non-
performing loan levels, portfolio concentrations, and other credit parameters.
• Conduct stress tests on significant changes of conditions as estimated potential
impacts on portfolios, revenues, as well as Danamon’s capital conditions.
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Risk Management
Process Implementation Activities

Monitoring • Periodically monitor risks taken in accordance with risk appetite and business
performance to remain within the desired limits.
• Monitor product performance and portfolios at the Bank and its lines of business levels
through a reliable Management Information System.
• Evaluate the adequacy of risk management implementation, which may provide
improvement and adjustment toward risk management strategies.
Control • Establish and periodically review the Policies and Guidelines for the implementation of credit
risk management that is applicable to business units in both general and specific terms.
• Implement adequate four-eyes principles in every process of credit facility approval.
• Delegate authority for credit approvals to selected members of the Credit Committee,
based on qualifications and competencies.
• Set internal limits for Legal Lending Limits for both individual and group debtors, and
also for related and non-related parties.
• Set the risk level and concentration limit on certain industrial sectors.
• Identify non-performing loans at an early stage so remedial processes can be conducted
properly and efficiently.
• Build up reserves in line with the existing regulations.
• Develop an independent and sustainable internal control system.
The Credit Risk Management process is performed • Mid-Market

thoroughly on all lines of defense in Danamon. • Financing Company
Lines of Business, Subsidiary, and the CCO Office, • Financial Institutions
as the risk-taking units, are the first line of defense • Credit Card
which have important roles in the implementation • Micro Credit
of adequate risk management. • Unsecured Loans
• Small and Medium Enterprise Loans
The Credit Risk Management Division serves as • Home Ownership Loans
an independent second line of defense. This unit • Automotive Loans
is responsible for monitoring and reviewing credit
risk parameters, reviewing and adjusting Credit In addition to the above models, the RA Division
Risk Policy, and developing risk measurement also develops a Probability of Default (PD) model
methodologies and risk control procedures. The and implements the “Danamon Rating Scale” (DRS),
Regulatory Compliance Division, as the second line, which is mapped according to the PD Model and
is also active in providing recommendations on scores/ratings that are applicable to all lines of
the implementation of credit risk management in business.
line with regulations and granting credit facilities to
Danamon’s related parties. The Internal Rating Model and Credit Scorecard
are used as a basis for ECL PSAK 71/IFRS 9
Compliance with the implementation of credit calculation and have become among the several
risk management is continuously evaluated by indicators used as references to make credit
an independent Internal Audit Unit acting as a decisions, acquisitions, and portfolio monitoring.
third line of defense. This unit actively provides Implementing the Internal Rating Model and Credit
recommendations for the improvement and Scorecard is expected to improve the overall quality
development of Danamon’s risk management of Danamon’s loan portfolio.
across all units.
b. Credit Concentration Risk
Credit Risk Internal Rating and Scorecard Model The credit concentration risk arises when borrowers
Danamon has a Risk Modelling, Quantitative are engaged in similar business activities, or have
Technique, and Analytics (RA) Division to develop, business activities in the same geographical area,
implement, monitor, and review the risk modelling or have similar characteristics that may affect
and methodologies of quantitative techniques. This the ability of customers to fulfil their contractual
also includes ensuring that the Bank has robust risk obligations, and are equally affected by changes in
modelling for prudent portfolio management, and economic conditions and other conditions.
for the credit business, as follows:
• Corporate Danamon encourages diversification of its loan
• Commercial portfolio in various geographical areas, industries,
176
Risk Management
credit products, and individual debtors that reflects subsidiary, for both conventional credit and sharia
a balanced and healthy risk profile and focuses financing that comply with existing conditions and
on marketing efforts toward the industry and regulations.
potential customers to minimize credit risk. This
diversification is based on Danamon’s strategic plan, The LLP calculation refers to the Indonesian
the target sector, current economic conditions, Banking Accounting Standard (PAPI), which starting
government policy, funding sources, and growth January 2020 already uses IFRS9 principles.
projections. The calculation of loan provision is based on the
impairment of loan value and the forward-looking
c. Measurement and Control Mechanism of (macroeconomic) condition methodology that was
Credit Risk developed by Danamon and approved by the Board
Danamon conducts intensive and rigorous of Directors.
monitoring of any changes that may affect
Danamon’s portfolio individually or in consolidation Calculation of LLP is defined as follows:
with its subsidiary within the financial • Collective LLP is a forward-looking provision
conglomeration. Reviews of the loan portfolio are for impairment of financial assets that are
conducted by the business unit level as a risk- evaluated collectively, if there is no objective
taking unit and at the Risk Management Working evidence of assets impairment.
Unit level, which is also monitored periodically by
the Risk Management Committee at the Board of The PD estimation, as a basis for LLP/ECL
Directors level and by the Risk Oversight Committee IFRS9 calculations under the collective
at the Board of Commissioners level. approach for the Enterprise Banking Credit
segment (Corporate, Commercial, FI, and
Danamon also carries out measurement of past Finco), uses an Internal-Rating base, while
due and impaired loans. This includes claims that for the Retail/Consumer and Mass market
have matured in the form of financial assets both credit segment it uses a Scorecard (B-score)
in whole or in part, including interest payments base.
that are overdue more than 90 (ninety) days and
impaired claims that are financial assets that have • Individual LLP is a provision for the
objective evidence of impairment based on future impairment of financial assets that is
cash-flow estimates. evaluated by assessing the confidence level
of individual forward-looking conditions
Evaluation of impaired loans is categorized into two using a discounted cash-flow method,
main segments: Wholesale (Enterprise Banking and by which the difference between the fair
SME) and Retail and Mass Market. In the Wholesale value of the asset at this time and the fair
Banking segment, the assessment includes four value of the asset before the impairment is
main categories, which are payment status, debtor’s calculated.
financial performance, assessment of debtors’
repayment status, and restructured loans. For the Danamon is also required to calculate PPA for
Retail and Mass Market segment, the assessments productive and non-productive assets, which refer
are conducted using a collective approach through to OJK regulations.
the portfolio and are assessed based on asset
quality and the restructuring conditions. e. Disclosure of Danamon Quantitative Credit
Risk
d. Provisioning Danamon’s quantitative credit risk calculations for
Starting January 2020, Danamon has implemented 2021 are disclosed in the following table:
IFRS9 (PSAK71) to define forward-looking Loan Loss
Provisions (LLP) for conventional credit, which is
called the ECL (Expected Credit Loss) provision.
Meanwhile, LLP calculations for sharia financing still
use PSAK50/55.
In addition, Provision for Asset Losses (PPA)

applies to all of Danamon’s lines of business and
177
Risk Management
CREDIT RISK
Table 8. Disclosure of Net Receivables Based on Region - Bank Stand Alone
(in Million Rp)
No. Portfolio Category

Jakarta, Bogor, Central
West
Tangerang, Karawang, Java and
Java
Bekasi, and Lampung Yogyakarta
(1) (2) (3) (4) (5)

1 Receivables on Sovereigns 46,186,148 - -
2 Receivables on Public Sector Entities 8,849,003 466 -
3 Receivables on Multilateral Development Banks and - - -
International Institutions
4 Receivables on Banks 7,256,849 1,029,617 67,169
5 Loans Secured by Residential Property 3,647,231 185,448 61,842
6 Loan Secured by Commercial Real Estate 965,509 33,438 35,668
7 Employee/Pensioner Loans - - -
8 Receivables on Micro, Small Business & Retail Portfolio 12,437,562 1,957,498 1,936,681
9 Receivables on Corporate 50,755,601 3,630,882 3,243,380
10 Past Due Receivables 209,047 25,289 14,075
11 Other Assets 3,539,607 214,479 371,442
Total 133,846,557 7,077,117 5,730,257
(in Million Rp)

Jakarta, Bogor, Tangerang, Central
Karawang, Bekasi, and West Java Java and
Lampung Yogyakarta
(1) (2) (13) (14) (15)

2 Receivables on Public Sector Entities 6,572,513 136 1
11 Other Assets 4,772,574 326,516 416,645
Total 128,431,875 8,616,115 6,326,331
178
Risk Management
31 December 2021
Net Receivables Based on Region
Sulawesi,
Bali, NTT, and North South
East Java Maluku, and Kalimantan Total
NTB Sumatra Sumatra
Papua
(6) (7) (8) (9) (10) (11) (12)

- - - - - - 46,186,148
- - 340 - 10 - 8,849,819
- - - - - - -
9,628 49,229 9,445 - 4 46 8,421,987

276,786 43,196 39,129 7,445 84,864 1,521 4,347,462
76,400 7,847 2,153 19,906 60,625 35,354 1,236,900
- - - - - - -
1,608,830 742,330 2,811,873 1,206,381 90,052 140,150 22,931,357
1,928,282 1,837,464 3,639,000 3,982,026 1,133,164 1,401,191 71,550,990
48,767 14,303 33,987 8,233 17,962 1,236 372,899
328,988 265,356 574,753 385,350 410,164 246,605 6,336,744
4,277,681 2,959,725 7,110,680 5,609,341 1,796,845 1,826,103 170,234,306
31 December 2020
Sulawesi,
Bali, NTT, and
East Java Maluku, and Kalimantan North Sumatra South Sumatra Total
NTB
Papua
(16) (17) (18) (19) (20) (21) (22)

- - - - - - 46,496,012
28,775 - 652 89 62 - 6,602,228
- - - - - - -
16,471 119,832 25,815 - 4 30 8,141,487

333,255 75,060 28,348 11,760 89,079 3,010 4,674,847
80,989 18,525 544 15,283 62,131 27,555 1,230,615
- - - - - - -
2,255,983 247,456 2,978,332 1,451,295 3,818,873 192,014 25,882,808
3,788,145 1,174,609 1,922,740 1,906,785 3,972,324 1,442,169 70,405,850
134,681 48,042 41,509 27,874 65,073 12,695 842,607
369,045 249,322 467,531 421,714 623,180 230,850 7,877,377
7,007,344 1,932,846 5,465,471 3,834,800 8,630,726 1,908,323 172,153,831
179
Risk Management
Table 8. Disclosure of Net Receivables Based on Region - Consolidated
(in Million Rp)
No Portfolio Category
Jakarta, Bogor, Central
West
Tangerang, Karawang, Java dan
Java
Bekasi, and Lampung Yogyakarta
(1) (2) (3) (4) (5)
2 Receivables on Public Sector Entities 8,849,011 539 -
11 Other Assets 4,482,141 244,278 391,726
Total 139,339,981 8,624,100 7,245,682
(in Million Rp)
Karawang, Bekasi, and West Java Java and
Lampung Yogyakarta
(1) (2) (13) (14) (15)
2 Receivables on Public Sector Entities 6,572,525 326 10
11 Other Assets 5,570,495 365,691 445,107
Total 138,549,471 11,098,311 8,372,563
180
Risk Management
31 December 2021
Sulawesi,
Bali, NTT and North South
East Java Maluku, and Kalimantan Total
NTB Sumatra Sumatra
Papua
(6) (7) (8) (9) (10) (11) (12)
- - - - - - 46,186,148
- - 730 - 43 - 8,850,323
- - - - - - -
9,628 49,229 9,445 - 4 46 9,401,395

276,786 43,196 39,129 7,445 84,864 1,521 4,347,728
76,400 7,847 2,153 19,906 60,625 35,354 1,236,900
- - - - - - -
4,392,827 742,330 6,753,026 2,930,738 4,194,343 140,150 42,530,561
2,015,912 1,837,464 4,106,527 4,103,931 1,407,892 1,401,191 71,968,866
77,842 14,303 56,822 16,179 47,259 1,236 534,020
360,128 265,356 622,428 404,641 463,220 246,605 7,480,523
7,209,523 2,959,725 11,590,260 7,482,840 6,258,250 1,826,103 192,536,464
31 December 2020
Sulawesi,
Bali, NTT, and
NTB
Papua
(16) (17) (18) (19) (20) (21) (22)
- - - - - - 46,496,012
28,776 - 820 102 95 - 6,602,654
- - - - - - -
16,471 119,832 25,815 - 4 30 11,350,267

333,255 75,060 28,348 11,760 89,079 3,010 4,675,591
80,989 18,525 544 15,283 62,131 27,555 1,230,615
- - - - - - -
5,758,268 247,456 6,689,009 2,869,517 7,495,723 192,014 48,804,458
3,802,774 1,174,609 1,925,746 1,906,971 3,985,438 1,442,169 70,253,860
185,837 48,042 74,196 38,608 98,129 12,695 1,110,280
410,462 249,322 516,403 448,209 681,233 230,850 8,917,772
10,616,832 1,932,846 9,260,881 5,290,450 12,411,832 1,908,323 199,441,509
181
Risk Management
Table 9. Disclosure of Net Receivables Based on the Remaining Term of Contract - Bank Stand Alone
(in Million Rp)

31 Desember 2021
No. Portfolio Category Net Receivables by Remaining Contractual Maturity
≤1 year >1-3 years >3-5 years >5 years
(1) (2) (3) (4) (5) (6)

1 Receivables on Sovereigns 22,139,943 15,883,271 5,117,241 102,459
2 Receivables on Public Sector Entities 4,193,049 2,502,520 902,316 1,251,934

3 Receivables on Multilateral Development Banks and - - - -
4 Receivables on Banks 5,726,436 2,575,280 113,973 6,298
5 Loans Secured by Residential Property 24,852 183,827 372,070 3,766,698
6 Loan Secured by Commercial Real Estate 687,227 381,959 156,542 6,545
7 Employee/Pensioner Loans - - - -
8 Receivables on Micro, Small Business & Retail 4,476,810 12,095,224 5,043,163 1,247,626
Portfolio
9 Receivables on Corporate 53,762,359 6,879,291 6,862,862 3,711,551
10 Past Due Receivables 81,733 173,576 45,890 23,818
11 Other Assets 62 - - -
TOTAL 91,092,471 40,674,948 18,614,057 10,116,929
Table 9. Disclosure of Net Receivables Based on the Remaining Term of Contract - Consolidated
(in Million Rp)

31 Desember 2021
No. Portfolio Category Net Receivables by Remaining Contractual Maturity
≤1 year >1-3 years >3-5 years >5 years
(1) (2) (3) (4) (5) (6)

1 Receivables on Sovereigns 22,139,943 15,883,271 5,117,241 102,459
2 Receivables on Public Sector Entities 4,193,182 2,502,685 902,522 1,251,934
3 Receivables on Multilateral Development Banks and - - - -
4 Receivables on Banks 6,634,415 2,646,709 113,973 6,298
5 Loans Secured by Residential Property 25,070 183,875 372,070 3,766,698
6 Loan Secured by Commercial Real Estate 687,227 381,959 156,542 6,545
7 Employee/Pensioner Loans - - - -
8 Receivables on Micro, Small Business & Retail 8,275,672 23,898,412 9,032,620 1,255,323
Portfolio
9 Receivables on Corporate 53,031,668 7,044,489 7,841,668 3,716,114
10 Past Due Receivables 135,963 263,073 63,270 23,832
11 Other Assets 276,994 351,924 2,279 -
TOTAL 95,400,134 53,156,397 23,602,185 10,129,203
182
Risk Management
31 December 2020
Net Receivables by Remaining Contractual Maturity
Non Non
Total ≤1 year >1-3 years >3-5 years >5 years Total
Contractual Contractual
(7) (8) (9) (10) (11) (12) (13) (14)
2,943,234 46,186,148 26,393,390 13,650,816 3,849,159 498,228 2,104,419 46,496,012
- 8,849,819 3,750,317 989,968 1,832,224 29,719 - 6,602,228

- - - - - - - -
- 8,421,987 5,518,093 2,098,142 439,303 85,780 169 8,141,487

15 4,347,462 17,682 188,052 529,580 3,939,529 4 4,674,847
4,627 1,236,900 661,631 327,153 174,440 61,677 5,714 1,230,615
- - - - - - - -
68,534 22,931,357 5,687,890 12,750,669 5,967,358 1,440,665 36,226 25,882,808
334,927 71,550,990 52,051,748 6,991,138 7,143,088 4,069,251 150,625 70,405,850

47,882 372,899 124,921 163,682 103,046 177,569 273,389 842,607
6,336,682 6,336,744 289,433 - - - 7,587,944 7,877,377
9,735,901 170,234,306 94,495,105 37,159,620 20,038,198 10,302,418 10,158,490 172,153,831
31 December 2020
Net Receivables by Remaining Contractual Maturity
Non Non
Total ≤1 year >1-3 years >3-5 years >5 years Total
Contractual Contractual
(7) (8) (9) (10) (11) (12) (13) (14)
2,943,234 46,186,148 26,393,390 13,650,816 3,849,159 498,228 2,104,419 46,496,012
- 8,850,323 3,750,510 990,167 1,832,258 29,719 - 6,602,654
- - - - - - - -
- 9,401,395 8,555,339 2,269,676 439,303 85,780 169 11,350,267

15 4,347,728 17,877 188,601 529,580 3,939,529 4 4,675,591
4,627 1,236,900 661,631 327,153 174,440 61,677 5,714 1,230,615
- - - - - - - -
68,534 42,530,561 9,879,799 26,976,458 10,465,299 1,446,676 36,226 48,804,458
334,927 71,968,866 51,824,555 7,047,984 7,161,445 4,069,251 150,625 70,253,860

47,882 534,020 193,494 323,089 142,739 177,569 273,389 1,110,280
6,849,326 7,480,523 212,183 358,956 13,519 - 8,333,114 8,917,772
10,248,545 192,536,464 101,488,778 52,132,900 24,607,742 10,308,429 10,903,660 199,441,509
183
Risk Management
Table 10. Disclosure of Net Receivables Based on Economic Sector - Bank Stand Alone
(in Million Rp)
Receivables
Receivables on Multilateral
Receivables on Public Development
No. Economic Sector *)
on Sovereigns Sector Banks and
Entities International
Institutions
(1) (2) (3) (4) (5)
31 December 2021
1 Agriculture, Forestry and Fisheries - 144,744 -
2 Mining and Quarrying - 41,653 -
3 Manufacturing - - -
4 Procurement of electricity, gas, steam/hot water and cold air - - -
5 Water Management, Wastewater Management, Waste - 1,045 -
Management and Recycling
6 Construction - 1,325,620 -
7 Wholesale and Retail Trading; Car and Motorcycle Repair - 56 -
and Maintenance
8 Transportation and Warehousing - 1,251,934 -
9 Provision of Accommodation and Provision of Food and Drink - - -
10 Information and Communication - - -
11 Financial and Insurance Activities 1,261,777 4,460,084 -
12 Real Estate - - -
13 Professional, Scientific, and Technical Activities - - -
14 Rental and Leasing Activities Without Option Rights, - - -
Employment, Travel Agencies, and Other Business Supports
15 Mandatory Government Administration, Defense, and Social - 193 -
Security
16 Education - - -
17 Human Health Activities and Social Activities - - -
18 Arts, Entertainment and Recreation - - -
19 Other Service Activities - - -
20 Aktivitas Rumah Tangga sebagai Pemberi Kerja - - -
21 Household Activities as an Employer - - -
22 Non Business Field - - -
23 Others 44,924,371 1,624,490 -
Total 46,186,148 8,849,819 -
31 December 2020
2 Mining and Quarrying - - -
4 Procurement of electricity, gas, steam / hot water and cold air - - -
5 Water Management, Wastewater Management, Waste - 782 -
and Maintenance
8 Transportation and Warehousing - - -
184
Risk Management
Loans Loan Receivables on

Employee/
Receivables Secured by Secured by Micro, Small Receivables Past Due Other
Pensioner
on Banks Residential Commercial Business & Retail on Corporate Receivables Assets
Loans
Property Real Estate Portfolio
(6) (7) (8) (9) (10) (11) (12) (13)
- - - - 612,051 2,417,142 4,552 -

- - - - 75,706 539,197 1,242 -
- - - - 517,016 24,029,814 94,703 -
- - - - 40,891 17,579 149 -
- - - - 27,707 6,663 59 -
- - 575,844 - 157,338 3,330,853 18,388 -

- - - - 2,958,188 20,439,349 73,552 -
- - - - 610,763 1,252,755 21,123 -

- - - - 79,312 850,924 1,339 -
- - - - 10,691 439,687 896 -
8,421,987 - - - 14,884 4,531,743 762 -
- - 661,056 - 9,503 2,694 - -
- - - - 501,946 230,678 6,121 -
- - - - 36,097 799,721 1,622 -
- - - - 136 - - -
- - - - 8,420 9,128 107 -

- - - - 1,103 155,998 67 -
- - - - 715 - - -
- - - - 39,189 125,582 3,189 -
- - - - 1,230 253 - -
- - - - - - - -
- 4,347,462 - - 16,979,281 2,390,221 145,028 -
- - - - 249,190 9,981,009 - 6,336,744
8,421,987 4,347,462 1,236,900 - 22,931,357 71,550,990 372,899 6,336,744
- - - - 833,421 2,351,990 5,525 -

- - - - 122,348 1,050,479 2,180 -
- - - - 676,036 20,409,784 72,321 -
- - - - 43,792 49,844 8 -
- - - - 17,514 53,798 232 -
- - 568,066 - 239,815 2,113,195 35,550 -

- - - - 3,866,864 24,876,588 353,113 -
- - - - 953,382 1,737,299 16,714 -

- - - - 120,099 861,939 3,461 -
- - - - 15,473 305,195 67 -
8,141,487 - - - 22,838 5,745,130 11,999 -
185
Risk Management
(in Million Rp)

Receivables
Institutions
(1) (2) (3) (4) (5)
12 Real Estate - - -
Security
16 Education - - -
23 Others 44,586,034 1,368,057 -
Total 46,496,012 6,602,228 -
Note:
*) Economic sector refers to economic sector used in the Integrated Commercial Bank Monthly Report (Integrated
- LBU). Net receivables to bank without economic sector information in Integrated LBU is classified as “Financial
and Insurance Activities” while other than that is classified as “Others”
Table 10. Disclosure of Net Receivables Based on Economic Sector - Consolidated

(in Million Rp)
Receivables
Institutions
(1) (2) (3) (4) (5)
31 December 2021
2 Mining and Quarrying - 41,653 -
4 Procurement of electricity, gas, steam/hot water and cold air - - -
and Maintenance
8 Transportation and Warehousing - 1,251,934 -
12 Real Estate - 11 -
186
Risk Management

Employee/
Pensioner
Loans
(6) (7) (8) (9) (10) (11) (12) (13)

- - 662,549 - 13,009 16,204 1,761 -
- - - - 757,850 246,100 6,586 -
- - - - 55,126 760,183 2,103 -
- - - - 380 - 37 -
- - - - 10,601 12,153 288 -

- - - - 15,591 161,265 272 -
- - - - 505 - - -
- - - - 107,987 172,073 5,034 -
- 4,674,628 - - 16,753,487 1,945,805 325,305 -
- - - - - - - -
- 219 - - 664 - 51 -
- - - - 1,256,026 7,536,826 - 7,877,377
8,141,487 4,674,847 1,230,615 - 25,882,808 70,405,850 842,607 7,877,377

Employee/
Pensioner
Loans
(6) (7) (8) (9) (10) (11) (12) (13)
- - - - 1,236,805 2,515,222 7,228 -

- - - - 156,544 570,755 4,862 -
- - - - 720,687 24,061,684 96,242 -
- - - - 74,879 20,598 169 -
- - - - 48,246 11,189 152 -
- - 575,844 - 246,089 3,333,804 21,214 -

- - - - 4,453,215 20,676,236 83,512 -
- - - - 1,082,070 1,299,566 27,697 -

- - - - 125,579 858,705 1,472 -
- - - - 17,276 441,315 939 -
9,401,395 - - - 24,943 3,792,389 765 -
- - 661,056 - 17,375 5,412 - -
- - - - 869,991 270,956 8,214 -
187
Risk Management
(in Million Rp)

Receivables
Institutions
(1) (2) (3) (4) (5)
Security
16 Education - - -
23 Others 44,924,371 1,624,491 -
Total 46,186,148 8,850,323 -
31 December 2020
2 Mining and Quarrying - - -
4 Procurement of electricity, gas, steam / hot water and cold air - - -
and Maintenance
8 Transportation and Warehousing - - -
12 Real Estate - 25 -
Security
16 Education - - -
23 Others 44,586,034 1,368,058 -
Total 46,496,012 6,602,654 -
Note:
*) Economic sector refers to economic sector used in the Integrated Commercial Bank Monthly Report (Integrated
- LBU). Net receivables to bank without economic sector information in Integrated LBU is classified as “Financial
Intermediary” while other than that is classified as “Others”
188
Risk Management

Employee/
Pensioner
Loans
(6) (7) (8) (9) (10) (11) (12) (13)

- - - - 50,672 800,844 1,637 -
- - - - 684 - - -
- - - - 11,617 9,784 110 -

- - - - 6,278 156,184 68 -
- - - - 715 - - -
- - - - 58,547 126,893 3,590 -
- - - - 2,284 728 3 -
- - - - - - - -
- 4,347,728 - - 33,076,873 3,035,596 276,145 -
- - - - 249,192 9,981,006 - 7,480,521
9,401,395 4,347,728 1,236,900 - 42,530,561 71,968,866 534,019 7,480,521
- - - - 1,253,591 2,356,684 7,747 -

- - - - 200,802 1,066,743 4,377 -
- - - - 870,508 20,409,784 73,709 -
- - - - 76,054 49,975 55 -
- - - - 28,192 53,798 248 -
- - 568,066 - 367,971 2,113,510 35,832 -

- - - - 5,142,097 24,879,480 364,376 -
- - - - 1,492,403 1,778,636 20,807 -

- - - - 169,573 861,939 3,880 -
- - - - 23,060 305,195 75 -
11,350,267 - - - 31,222 5,507,638 12,037 -
- - 662,549 - 19,469 16,204 1,813 -
- - - - 1,111,577 246,202 10,720 -
- - - - 68,936 760,183 2,310 -
- - - - 437 - 41 -
- - - - 14,389 12,153 290 -

- - - - 20,516 161,265 282 -
- - - - 505 - - -
- - - - 181,320 184,763 5,082 -
- 4,674,628 - - 16,754,154 1,945,805 325,305 -
- - - - - - - -
- 963 - - 19,721,655 7,079 241,294 -
- - - - 1,256,027 7,536,824 - 8,917,772
11,350,267 4,675,591 1,230,615 - 48,804,458 70,253,860 1,110,280 8,917,772
189
Risk Management
Table 11. Disclosure of Receivables and Provisioning Based on Region - Bank Stand Alone
(in Million Rp)
No. Explanation
Kerawang, Bekasi, and West Java Java and
Lampung Yogyakarta
(1) (2) (3) (4) (5)
1 Receivables 146,376,609 7,550,385 6,259,735
2 Receivables with increased and worsening credit risk
a. Non Past Due 5,907,036 1,465,404 1,179,266
b. Past Due 2,388,808 542,590 450,167
3 Allowance for Impairment Losses - Stage 1 1,050,689 108,996 60,587
4 Allowance for Impairment Losses - Stage 2 379,057 52,456 37,290
6 Written-Off Receivables 2,006,157 495,168 211,639
(in Million Rp)
No. Explanation
Lampung Yogyakarta
(1) (2) (13) (14) (15)
1 Receivables 142,013,678 7,539,854 6,528,528
a. Non Past Due 9,547,649 2,612,676 1,766,121
b. Past Due 1,050,566 178,579 172,879
190
Risk Management
31 December 2021
Sulawesi,
Bali, NTT, and
NTB
Papua
(6) (7) (8) (9) (10) (11) (12)
6,488,609 1,800,693 4,324,314 3,138,870 7,001,726 1,905,510 184,846,451
967,841 512,389 849,787 528,052 953,836 138,815 12,502,426

656,486 223,091 279,994 138,513 402,200 98,367 5,180,216
134,028 10,688 76,222 27,952 122,319 7,371 1,598,852
95,198 17,537 43,130 18,641 46,384 3,996 693,689
420,377 172,113 172,164 111,109 286,651 74,605 3,858,430
1,042,414 165,636 327,995 114,337 404,933 86,990 4,855,269
31 December 2020
Sulawesi,
Bali, NTT, and
NTB
Papua
(16) (17) (18) (19) (20) (21) (22)
7,795,774 2,058,990 5,743,969 3,966,953 9,007,658 2,007,638 186,663,042
2,264,846 831,793 1,794,316 869,328 2,206,289 220,603 22,113,621

472,360 81,599 217,420 123,496 230,217 104,049 2,631,165
146,818 55,457 123,771 65,287 169,023 22,943 2,164,273
173,871 8,384 40,452 34,069 90,381 8,498 768,035
503,195 68,215 143,792 65,447 187,079 84,829 2,542,925
525,420 57,394 287,847 197,703 318,930 66,486 4,180,226
191
Risk Management
Table 11. Disclosure of Receivables and Provisioning Based on Region - Consolidated
(in Million Rp)
Lampung Yogyakarta
(1) (2) (3) (4) (5)
1 Receivables 143,953,976 9,192,923 7,830,761
a. Non Past Due 5,907,036 1,465,404 1,179,266
b. Past Due 3,209,594 933,130 704,301
(in Million Rp)
No. Explanation Jakarta, Bogor, Tangerang, Central

Lampung Yogyakarta
(1) (2) (13) (14) (15)
1 Receivables 145,415,496 10,206,066 8,735,423
a. Non Past Due 9,547,649 2,612,676 1,766,121
b. Past Due 1,767,383 544,540 467,648
192
Risk Management
31 December 2021
Sulawesi,
Bali, NTT, and
NTB
Papua
(6) (7) (8) (9) (10) (11) (12)
9,519,164 1,800,693 8,911,227 5,048,195 11,604,493 1,905,510 199,766,942
967,841 512,389 849,787 528,052 953,836 138,815 12,502,426

1,099,107 223,091 1,032,255 300,759 1,045,820 98,367 8,646,424
256,936 10,688 265,362 104,944 324,977 7,371 2,496,202
123,123 17,537 63,855 27,507 84,255 3,996 856,073
471,611 172,113 210,805 129,378 347,635 74,605 4,174,969
1,416,298 165,636 616,936 236,202 711,245 86,990 7,186,575
31 December 2020
Sulawesi,
Bali, NTT, and
NTB
Papua
(16) (17) (18) (19) (20) (21) (22)
11,618,783 2,058,990 9,724,086 5,503,979 13,011,802 2,007,638 208,282,263
2,264,846 831,793 1,794,316 869,328 2,206,289 220,603 22,113,621

891,538 81,599 584,049 268,167 712,162 104,049 5,421,135
331,588 55,457 283,076 142,544 353,481 22,943 3,353,994
236,145 8,384 89,380 54,456 165,183 8,498 1,188,910
561,336 68,215 169,168 79,658 225,686 84,829 2,849,291
820,043 57,394 446,638 295,903 612,785 66,486 6,163,146
193
Risk Management
Table 12. Disclosure of Receivables and Provisioning Based on Economic Sector - Bank Stand Alone
30 December 2021
(in Million Rp)
Impaired Receivables
No. Economic Sectors Receivables
Non Past Due Past Due
(1) (2) (3) (4) (5)
1 Agriculture, Forestry and Fisheries 3,228,718 356,171 25,950
2 Mining and Quarrying 837,880 353,422 7,766
3 Manufacturing 25,685,832 2,146,296 1,537,053
4 Procurement of electricity, gas, steam / hot water and 59,924 3,371 1,011
cold air
5 Water Management, Wastewater Management, Waste 36,145 3,418 433
6 Construction 5,496,128 634,152 103,229
7 Wholesale and Retail Trading; Car and Motorcycle 25,584,399 3,981,413 2,111,378
Repair and Maintenance
8 Transportation and Warehousing 3,362,667 441,716 239,838
9 Provision of Accommodation and Provision of Food 969,288 505,773 11,908
and Drink
10 Information and Communication 457,640 22,769 10,523
11 Financial and Insurance Activities 18,004,257 137,628 12,639
12 Real Estate 688,830 17,553 23,527
13 Professional, Scientific, and Technical Activities 787,402 232,981 37,472
14 Rental and Leasing Activities Without Option Rights, 857,019 128,225 16,625
Employment, Travel Agencies, and Other Business
Supports
15 Mandatory Government Administration, Defense, and 338 235 0
Social Security
16 Education 20,690 3,252 3,063
17 Human Health Activities and Social Activities 157,243 890 77
18 Arts, Entertainment and Recreation 715 0 0
19 Other Service Activities 178,259 74,207 11,893
20 Aktivitas Rumah Tangga sebagai Pemberi Kerja 1,493 197 1
21 Household Activities as an Employer 0 0 0
22 Non Business Field 25,054,071 3,458,634 663,304
23 Others 73,377,513 123 362,526
Total 184,846,451 12,502,426 5,180,216
194
Risk Management
Allowance for Impairment Allowance for Impairment Allowance for Impairment Losses - Written-Off
Losses - Stage 1 Losses - Stage 2 Stage 3 Receivables
(6) (7) (8) (9)

39,801 6,810 30,619 71,653
8,940 8,188 166,565 13,490
150,926 107,266 938,785 531,156
1,148 185 887 45,562
1,583 128 401 9,863
48,844 20,477 52,443 199,708

183,530 162,181 1,905,128 1,679,088
48,813 39,392 170,332 137,332

10,225 29,734 9,968 14,941
3,655 1,224 5,095 9,656

47,667 146 51 27,295
3,558 163 15,692 5,711
27,939 7,618 24,259 42,397
6,512 4,065 13,515 83,621
9 0 0 176
177 4 2,956 472

408 70 9 709
0 0 0 67
2,436 1,921 7,018 9,433
32 0 1 20
- - - -
989,920 304,117 514,706 1,972,830
22,729 0 0 89
1,598,852 693,689 3,858,430 4,855,269
195
Risk Management
30 December 2020
(in Million Rp)
(1) (2) (3) (4) (5)
2 Mining and Quarrying 1,350,091 165,123 4,762
3 Manufacturing 21,856,716 3,743,002 198,135
4 Procurement of electricity, gas, steam/hot water and 114,905 19,064 131
cold air
5 Water Management, Wastewater Management, Waste 73,285 16,074 698
6 Construction 4,471,259 713,504 97,484
9 Provision of Accommodation and Provision of Food 1,026,300 553,189 12,806
and Drink
12 Real Estate 701,689 159,282 5,398
13 Professional, Scientific, and Technical Activities 1,055,672 475,506 14,224
Supports
15 Mandatory Government Administration, Defense, and 818 296 50
Social Security
16 Education 23,915 7,695 461
17 Human Health Activities and Social Activities 177,344 5,074 326
18 Arts, Entertainment and Recreation 505 - -
22 Non Business Field 24,943,009 6,694,371 734,194
23 Others 72,977,823 144 431,717
Total 186,663,042 22,113,621 2,631,165
196
Risk Management
Allowance for Impairment Allowance for Impairment Allowance for Impairment

Written-Off Receivables
Losses - Stage 1 Losses - Stage 2 Losses - Stage 3
(6) (7) (8) (9)

49,659 12,800 28,228 51,515
14,928 2,538 167,351 31,844
238,457 134,777 401,414 863,077
1,701 314 19,645 504
808 113 466 783
58,111 23,202 148,681 144,227

504,124 295,883 1,216,536 1,374,808
53,776 35,823 142,807 150,825

25,377 21,237 5,240 20,510
4,121 1,160 7,375 19,155

105,424 77 116 27,639
7,742 803 3,636 268
26,756 20,239 4,618 34,880
14,806 1,166 46,569 8,656
12 1 14 -
774 5 173 172

986 20 54 1,981
1 - - -
7,029 1,161 5,042 25,286
77 - - 6
- - - 140
1,096,373 216,389 344,922 1,415,839
(46,769) 327 38 8,111
2,164,273 768,035 2,542,925 4,180,226
197
Risk Management
Table 12. Disclosure of Receivables and Provisioning Based on Economic Sector - Consolidated
30 December 2021
(in Million Rp)
No Economic Sector Receivables
(1) (2) (3) (4) (5)

3 Manufacturing 25,936,757 2,146,296 1,573,920
4 Procurement of electricity, gas, steam / hot water and cold air 98,152 3,371 4,508
5 Water Management, Wastewater Management, Waste 62,423 3,418 2,474
6 Construction 5,652,207 634,152 126,042
7 Wholesale and Retail Trading; Car and Motorcycle Repair and 27,400,890 3,981,413 2,359,397
Maintenance
9 Provision of Accommodation and Provision of Food and Drink 1,026,345 505,773 23,075
12 Real Estate 699,841 17,553 24,658
15 Mandatory Government Administration, Defense, and Social Security 918 235 40
16 Education 24,557 3,252 3,150
17 Human Health Activities and Social Activities 163,899 890 325
22 Non Business Field 42,192,694 3,458,634 3,476,932
23 Others 65,801,595 123 362,526
Total 199,766,942 12,502,426 8,646,424
30 December 2020
(in Million Rp)
(1) (2) (3) (4) (5)

3 Manufacturing 22,066,998 3,743,002 218,926
4 Procurement of electricity, gas, steam/hot water and 147,972 19,064 1,515
cold air
5 Water Management, Wastewater Management, Waste 84,712 16,074 1,497
198
Risk Management

(6) (7) (8) (9)

68,172 11,081 38,201 104,968
22,110 10,493 170,608 24,683
161,044 109,718 941,362 544,619
2,385 241 1,206 46,103
2,963 175 548 10,989
53,897 22,332 56,619 207,176

255,484 175,347 1,926,519 1,776,572
73,110 48,122 183,547 179,290

13,038 30,010 10,720 18,255
3,978 1,246 5,198 9,746
48,128 158 63 27,393
4,079 193 15,791 6,256
46,948 11,833 29,922 71,284
7,078 4,188 13,691 85,182
29 - - 347
234 5 2,958 490
537 85 9 811
- - - 79
3,419 2,139 7,238 11,528
93 - 5 25
- - - -
1,706,746 428,707 770,764 4,060,690
22,730 - - 89
2,496,202 856,073 4,174,969 7,186,575

(6) (7) (8) (9)

64,360 19,455 30,645 68,147
19,257 4,946 168,823 39,534
245,043 137,604 402,188 869,730
2,383 543 19,679 1,007
1,299 203 487 1,020
199
Risk Management
30 December 2020
(in Million Rp)
(1) (2) (3) (4) (5)

6 Construction 4,661,137 713,504 124,979
9 Provision of Accommodation and Provision of Food 1,080,852 553,189 20,290
and Drink
12 Real Estate 708,837 159,282 6,466
Supports
15 Mandatory Government Administration, Defense, and 1,079 296 59
Social Security
16 Education 27,733 7,695 478
17 Human Health Activities and Social Activities 182,408 5,074 487
20 Aktivitas Rumah Tangga sebagai Pemberi Kerja 2,702 572 -
22 Non Business Field 46,002,666 6,694,371 3,103,785
23 Others 66,891,439 144 431,717
Total 208,282,263 22,113,621 5,421,135
200
Risk Management

(6) (7) (8) (9)

62,270 26,972 148,979 151,503
547,280 316,508 1,224,453 1,424,507
74,454 48,331 154,994 173,733

27,665 23,280 5,510 22,714
4,323 1,176 7,377 19,186

105,549 244 172 30,886
7,918 970 3,644 464
40,355 27,964 7,163 50,138
15,203 1,389 47,091 11,294
15 1 16 -
823 8 173 172

1,062 35 56 1,987
1 - - -
8,840 1,656 5,463 32,421
110 - - 24
- - - 140
2,172,554 577,298 622,340 3,256,427
(46,770) 327 38 8,112
3,353,994 1,188,910 2,849,291 6,163,146
201
Risk Management
Table 13. Disclosure of Movements Details of Allowance for Impairment Losses - Bank Stand Alone
(in Million Rp)
No Description
(1) (2)
1 Beginning balance of allowance for impairment losses
2 Additional/reversal allowance for impairment losses during the year (net)
2.a Pembentukan CKPN pada periode berjalan
2.b Pemulihan CKPN pada periode berjalan
3 Allowance for impairment losses used to cover written off receivables during the year
4 Other additional (reversal) allowance during the year
Ending Balance of Allowance for Impairment Losses
Table 13. Disclosure of Movements Details of Allowance for Impairment Losses - Consolidated
(in Million Rp)
No Description
(1) (2)
1 Beginning balance of allowance for impairment losses
2 Additional/reversal allowance for impairment losses during the year (net)
2.a Pembentukan CKPN pada periode berjalan
2.b Pemulihan CKPN pada periode berjalan
3 Allowance for impairment losses used to cover written off receivables during the year
4 Other additional (reversal) allowance during the year
Ending Balance of Allowance for Impairment Losses
Danamon only uses ratings for exposures in the form of securities. Therefore, the portfolio categories that use the
ranking up until the end of December 2021 consist of:
• Claims to Government
• Claims on Public Sector Entities
• Claims on Banks
• Claims on Corporations
As of the reporting period ending 31 December 2021, Danamon used the following ratings agencies: PT Pemeringkat
Efek Indonesia, Moody’s, and PT Fitch Ratings Indonesia. Guidelines for Credit Risk Weighted Assets were based on a
Standardized Approach.
202
Risk Management
31 December 2021 31 December 2020

Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3
(3) (4) (5) (3) (4) (5)
2,164,273 768,035 2,542,925 2,221,397 - 926,149
(535,556) (19,402) 6,083,210 2,473 784,312 5,114,197
- - - - - -
- - - - - -
(30,278) (55,212) (4,769,779) (44,219) (16,603) (4,119,404)
413 268 2,074 (15,378) 325 621,983
1,598,852 693,689 3,858,430 2,164,273 768,034 2,542,925

Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3
(3) (4) (5) (3) (4) (5)
3,353,995 1,188,910 2,849,291 3,795,608 - 926,149
(779,439) (238,433) 8,336,740 (275,846) 1,240,787 7,261,713
- - - - - -
- - - - - -
(78,767) (94,672) (7,013,136) (150,389) (52,203) (5,960,554)
413 268 2,074 (15,378) 325 621,983
2,496,202 856,073 4,174,969 3,353,995 1,188,909 2,849,291
203
Risk Management
Table 14. Disclosure of Net Receivables Based on Portfolio Categories and Ratings - Bank Stand Alone
(in Million Rp)
Company Rating Long Term Rating
No. Portfolio Category Moody’s Aaa Aa1 to Aa3 A1 to A3 Baa1 to Baa3
PT. Fitch Ratings AA+(idn) A+(idn) BBB+(idn) to

AAA (idn)
Indonesia to AA-(idn) to A-(idn) BBB-(idn)
PT Pemeringkat id AA+ to idA+ to id BBB+ to id
idAAA
Efek Indonesia id AA- id A- BBB-
(1) (2) (3) (4) (5) (6) (7)
1 Receivables on Sovereigns - - - 28,658,318
2 Receivables on Public Sector Entities 362,480 98,284 - -
3 Receivables on Multilateral - - - -
Development Banks and
4 Receivables on Banks 1,036,985 278,340 - 173,612
5 Loans Secured by Residential
Property
6 Loans Secured by Commercial Real
Estate
7 Employee/Pensioner Loans
8 Receivables on Micro, Small
Business & Retail Portfolio
9 Receivables on Corporate 1,089,638 484,365 41,158 -
10 Past Due Receivables
11 Other Assets
TOTAL 2,489,103 860,989 41,158 28,831,930
(in Million Rp)
No. Portfolio Category Moody's Aaa Aa1 to Aa3 A1 to A3 Baa1 to Baa3
PT. Fitch Ratings AA+(idn) A+(idn) to BBB+(idn) to

AAA (idn)
Indonesia to AA-(idn) A-(idn) BBB-(idn)
idAAA
(1) (2) (3) (4) (5) (6) (7)
2 Receivables on Public Sector Entities 286,272 - - -
4 Receivables on Banks 902,465 236,889 - 174,408
204
Risk Management
31 December 2021
Net Receivables
Short Term Rating
Less than Less than
Ba1 to Ba3 B1 to B3 P-1 P-2 P-3
B3 P-3
BB+(idn) to B+(idn) to Less than F1+(idn) to Less than Unrated Total
F2 (idn) F3 (idn)
BB-(idn) B-(idn) B-(idn) F1 (idn) F3 (idn)
id BB+ to id id B+ to Less than id A3 to Less than
id A1 id A2
BB- id B- id B- id A4 id A4
(8) (9) (10) (11) (12) (13) (14) (15) (16)
- - - - - - - 17,527,830 46,186,148
- - - - - - - 8,389,055 8,849,819
- - - - - - - - -
- - - - - - - 6,933,050 8,421,987
4,347,462 4,347,462
1,236,900 1,236,900
- -
22,931,357 22,931,357
- - - - - - - 69,935,829 71,550,990
372,899 372,899
6,336,744 6,336,744
- - - - - - - 138,011,126 170,234,306
31 December 2020
Net Receivables
Short Term Rating
Less than Less than
B3 P-3
F2 (idn) F3 (idn)
id A1 id A2
(8) (9) (10) (11) (12) (13) (14) (15) (16)
- - - - - - - 23,436,376 46,496,013
- - - - - - - 6,315,956 6,602,228
- - - - - - - - -
- - - - - - - 6,827,727 8,141,489
205
Risk Management
PT. Fitch Ratings AA+(idn) A+(idn) to BBB+(idn) to

AAA (idn)
idAAA
5 Loans Secured by Residential
Property
Estate
9 Receivables on Corporate 945,145 814,782 51,191 -
11 Other Assets
TOTAL
Table 14. Disclosure of Net Receivables Based on Portfolio Categories and Ratings - Consolidated
(in Million Rp)
PT. Fitch Ratings AA+ (idn) A+ (idn) to BBB+ (idn) to

AAA (idn)
idAAA
(1) (2) (3) (4) (5) (6) (7)
2 Receivables on Public Sector Entities 362,480 98,284 - -
4 Receivables on Banks 1,036,985 278,340 - 173,612
5 Loans Secured by Residential Property
Estate
9 Receivables on Corporate 1,089,638 484,365 41,158 -
11 Other Assets
TOTAL 2,489,103 860,989 41,158 28,831,930
206
Risk Management
31 December 2020
Net Receivables
Short Term Rating
Less than Less than
B3 P-3
F2 (idn) F3 (idn)
id A1 id A2
4,674,847 4,674,847
1,230,614 1,230,614
- -
25,882,807 25,882,807
- - - - - - - 68,594,733 70,405,851
842,608 842,608
7,877,378 7,877,378
- - - - - - - 145,683,046 172,153,835
31 December 2021
Net Receivables
Short Term Rating
Less than Less than
B3 P-3
BB+ (idn) to B+ (idn) to Less than F1+ (idn) Less than Unrated Total
F2 (idn) F3 (idn)
BB-(idn) B-(idn) B-(idn) to F1 (idn) F3 (idn)
id A1 id A2
(8) (9) (10) (11) (12) (13) (14) (15) (16)
- - - - - - - 17,527,830 46,186,148
- - - - - - - 8,389,559 8,850,323
- - - - - - - - -
- - - - - - - 7,912,458 9,401,395
4,347,728 4,347,728
1,236,900 1,236,900
- -
42,530,561 42,530,561
- - - - - - - 70,353,705 71,968,866
534,020 534,020
7,480,523 7,480,523
- - - - - - - 160,313,284 192,536,464
207
Risk Management
(in Million Rp)
No. Portfolio Category Moody’s Aaa Aa1 to Aa3 A1 to A3 Baa1 to Baa3
PT. Fitch Ratings AA+ (idn) A+ (idn) to BBB+ (idn) to

AAA (idn)
idAAA
(1) (2) (3) (4) (5) (6) (7)
2 Receivables on Public Sector Entities 286,272 - - -
4 Receivables on Banks 902,465 236,889 - 174,408
5 Loans Secured by Residential Property
Estate
9 Receivables on Corporate 945,145 814,782 51,191 -
11 Other Assets
TOTAL 2,133,882 1,051,671 51,191 23,234,045
f. Credit Risk Mitigation Disclosure Collateral valuation should be done in the credit
Danamon has determined the collateral as one of initiation process. The revaluation is conducted at
credit-risk mitigation. However, Danamon does not certain periods in accordance with the collateral
consider collateral the sole basis of credit decision- requirements as PPA deductions. For collateral as
making, nor the main source of loan repayment. a PPA deduction, the collateral valuation for credit
The purpose of credit risk mitigation is as follows: facilities of more than Rp 10 billion (for conventional
• To limit the risk of losses when the debtor products) or Rp 5 billion (for sharia products) should
cannot meet obligations to the Bank. be conducted by an independent external appraiser
• To protect from unexpected risk and risk with good qualifications, who is certified and does
inherent to credit exposure in the future. not have any relationship with the debtor. External
appraisers should be appointed by Danamon.
Acceptable collateral, according to the collateral
policy approved by Danamon, are as follows: The collateral valuation can be conducted by
a. Cash and cash equivalent internal appraisers. Danamon ensures that the
b. Government and Bank Indonesia Securities appraisers have the knowledge, education, and
c. Standby L/C of prime bank experience of collateral valuation and appraisers
d. Land and buildings do not have any relationships with the debtors. The
e. Machinery assessment results should be properly documented
f. Personnel guarantees in the Credit file.
g. Corporate guarantees
208
Risk Management
31 December 2020
Net Receivables
Short Term Rating
Less than Less than
B3 P-3
BB+ (idn) to B+ (idn) to Less than F1+ (idn) Less than F3 Unrated Total
F2 (idn) F3 (idn)
BB-(idn) B-(idn) B-(idn) to F1 (idn) (idn)
id A1 id A2
(8) (9) (10) (11) (12) (13) (14) (15) (16)
- - - - - - - 23,436,376 46,496,013
- - - - - - - 6,316,382 6,602,654
- - - - - - - - -
- - - - - - - 10,036,503 11,350,265
4,675,589 4,675,589
1,230,614 1,230,614
- -
48,804,457 48,804,457
- - - - - - - - 68,442,744 70,253,862
1,110,280 1,110,280
8,917,773 8,917,773
- - - - - - - 172,970,718 199,441,507
Danamon conducts an assessment of guarantors’ current accounts, savings deposits, security

credit worthiness, among other ways by assessing deposits, gold, and securities with certain criteria
the financial statements to determine the credit as per the OJK/Bank Indonesia.
rating of guarantors.
For reverse repo transactions, collateral in the
Danamon has also determined 4 industrial sector form of securities underlying the reverse repo
categories based on each respective risk level, transactions and/or cash is calculated as a form of
namely high risk restricted, high risk, medium credit risk mitigation on reverse repo transactions.
risk, and low risk. Danamon also determines the
maximum threshold of industries that are classified The following are the disclosures of credit risk after
as high risk restricted and high risk. In regards to calculating the impact of credit risk mitigation.
this, Danamon conducts periodic monitoring to
ensure the level of exposure for each industry is
still within Danamon’s appetite.
Credit Risk Mitigation Methods for Standardized

Approach
To calculate credit risk mitigation as an RWA
deduction (Credit Risk), Danamon uses the MRK
(Credit Risk Mitigation) collateral. The types
of financial collateral recognised are those in
accordance with regulations, i.e. cash, savings,
209
Risk Management
Table 15. Disclosure of Net Receivables Based on Risk Weighted Assets After Calculating Credit
Risk Mitigation Impacts - Bank Stand Alone
(in Million Rp)

0% 20% 25%
(1) (2) (3) (4)
A. Exposure on Balance Sheet
2 Receivables on Public Sector Entities - 460,764 -
3 Receivables on Multilateral Development Banks and International Institutions - -
4 Receivables on Banks 39 3,446,072 -
5 Loans Secured by Residential Property - 874,672 1,335,093
6 Loan Secured by Commercial Real Estate 65,712 - -
8 Receivables on Micro, Small Business & Retail Portfolio 56,589 - -
9 Receivables on Corporate 1,623,498 1,574,003 -
10 Past Due Receivables - - -
11 Other Assets 2,635,688 - -
Total Exposure on Balance Sheet 47,221,107 6,355,511 1,335,093
B. Commitments/Contingencies Exposure for Off Balance Sheet Transactions

1 Receivables on Sovereigns - - -
2 Receivables on Public Sector Entities - - -
3 Receivables on Multilateral Development Banks and International Institutions - - -
4 Receivables on Banks - 3,665 -
5 Loans Secured by Residential Property - 764 2
6 Loan Secured by Commercial Real Estate - - -
8 Receivables on Micro, Small Business & Retail Portfolio 250 - -
9 Receivables on Corporate 113,972 - -
Total Commitment/Contingencies Exposure for Off Balance Sheet 114,222 4,429 2
Transactions
C. Exposure on Counterparty Credit Risk

3 Receivables on Multilateral Development Banks and International Institutions - - -
4 Receivables on Banks - -
5 Receivables on Micro, Small Business & Retail Portfolio - - -
6 Receivables on Corporate - - -
Total Counterparty Credit Risk Exposures 3,343,031 - -
210
Risk Management
31 Desember 2021
Net Receivables After Calculating Credit Risk Mitigation Impacts RWA Capital Charge
35% 50% 75% 100% 150% Others
(5) (8) (9) (10) (11) (12) (13) (14)
- - - - - - - -
- 8,312,053 - - - - 4,248,179 531,022
- - -
- 4,220,014 - - - - 2,799,221 349,903
2,136,914 - - - - - 1,256,628 157,079
- - - 1,170,138 - - 1,170,138 146,267
- - - - - - - -
- - 22,625,810 - - - 16,969,358 2,121,170
- 998,725 - 62,369,167 - - 63,183,330 7,897,916
- - - 17,177 355,722 - 550,760 68,845
- - - 3,095,953 605,103 - 4,003,608 500,451
2,136,914 13,530,792 22,625,810 66,652,435 960,825 - 94,181,222 11,772,653
- - - - - - - -
- - - - - - - -
- - - - - - - -
- 219,735 - - - - 110,601 13,825
17 - - - - - 159 20
- - - 1,050 - - 1,050 131
- - - - - - - -
- - 228,642 - - - 171,481 21,435
- - - 4,762,855 - - 4,762,855 595,357
- - - - - - - -
17 219,735 228,642 4,763,905 - - 5,046,146 630,768
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
211
Risk Management
(in Million Rp)

0% 20% 25%
(1) (2) (3) (4)
3 Receivables on Multilateral Development Banks and International - -
Institutions
4 Receivables on Banks 5,311 2,678,441 -
10 Past Due Receivables 27 - -
11 Other Assets 2,761,955 - -
B. Commitments/Contingencies Exposure for Off Balance Sheet Transactions

3 Receivables on Multilateral Development Banks and International - - -
Institutions
5 Loans Secured by Residential Property - 1,609 2
Transactions

Institutions
4 Receivables on Banks - -
212
Risk Management
31 Desember 2020
Net Receivables After Calculating Credit Risk Mitigation Impacts RWA Capital Charge
35% 50% 75% 100% 150% Others
(5) (8) (9) (10) (11) (12) (13) (14)
- - - - - - - -
- 6,315,956 - - - - 3,215,232 401,904
- - -
- 4,856,960 - - - - 2,964,168 370,521

2,088,024 - - - - - 1,328,997 166,125
- - - 1,108,463 - - 1,108,463 138,558
- - - - - - - -
- - 24,810,713 - - - 18,608,035 2,326,004
- 51,191 - 63,095,099 - - 63,472,680 7,934,085
- - - 115,757 726,823 - 1,205,992 150,749
- - - 4,430,077 685,345 - 5,458,095 682,262
2,088,024 11,224,107 24,810,713 68,749,396 1,412,168 - 97,361,662 12,170,208
- - - - - - - -
- - - - - - - -
- - - - - - - -
- 61,106 - - - - 33,484 4,186

127 - - - - - 367 46
- - - 1,050 - - 1,050 131
- - - - - - - -
- - 930,701 - - - 698,026 87,253
- - - 3,728,636 - - 3,728,636 466,080
- - - - - - - -
127 61,106 930,701 3,729,686 - - 4,461,563 557,696
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
213
Risk Management
Table 15. Disclosure of Net Receivables Based on Risk Weighted Assets After Calculating Credit
Risk Mitigation Impacts - Consolidated
(in Million Rp)

0% 20% 25%
(1) (2) (15) (16)
A. Commitments /Contingencies Exposure for Off Balance Sheet Transactions
Institutions
4 Receivables on Banks 39 4,322,835 -
11 Other Assets 2,789,555 - -
B. Commitments /Contingencies Exposure for Off Balance Sheet Transactions

Institutions
5 Loans Secured by Residential Property - 764 2
8 Receivables on Micro, Small Business & Retail Portfolio 250 - -
Transactions

Institutions
4 Receivables on Banks - - -
214
Risk Management
31 Desember2021
Capital Charge
Net Receivables After Calculating Credit Risk Mitigation Impacts RWA
(10% x RWA)
35% 50% 75% 100% 150% Others
(17) (20) (21) (22) (23) (24) (25) (26)
- - - - - - - -
- 8,312,557 - - - - 4,248,431 531,054
- - - - - - - -
- 4,220,014 - - - - 2,974,574 371,822

2,136,914 - - - - - 1,256,681 157,085
- - - 1,170,138 - - 1,170,138 146,267
- - - - - - - -
- - 42,225,014 - - - 31,668,761 3,958,595
- 2,069,988 - 61,777,487 - - 63,114,941 7,889,368
- - - 17,189 516,830 - 792,435 99,054
- - - 4,085,865 605,103 - 4,993,519 624,190
2,136,914 14,602,559 42,225,014 67,050,679 1,121,933 - 110,219,480 13,777,435
- - - - - - - -
- - - - - - - -
- - - - - - - -
- 219,735 - - - - 110,601 13,825

17 - - - - - 159 20
- - - 1,050 - - 1,050 131
- - - - - - - -
- - 228,642 - - - 171,481 21,435
- - - 4,762,853 - - 4,762,853 595,357
- - - - - - - -
17 219,735 228,642 4,763,903 - - 5,046,144 630,768
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
215
Risk Management
(in Million Rp)

0% 20% 25%
(1) (2) (3) (4)
A. Commitments /Contingencies Exposure for Off Balance Sheet Transactions
Institutions
4 Receivables on Banks 5,312 5,697,294 -
11 Other Assets 2,838,129 - -

Institutions
5 Loans Secured by Residential Property - 1,609 2
Total Commitment/Contingencies Exposure for Off Balance 112,045 16,263 2
Sheet Transactions

Institutions
4 Receivables on Banks - - -
216
Risk Management
31 Desember 2020
Capital Charge
Net Receivables After Calculating Credit Risk Mitigation Impacts RWA
(10% x RWA)
35% 50% 75% 100% 150% Others
(3) (4) (9) (10) (11) (12) (13) (14)
- - - - - - - -
- 6,316,382 - - - - 3,215,445 401,931
- - - - - - - -
- 4,856,960 - - - - 3,567,939 445,992

2,088,024 - - - - - 1,329,146 166,143
- - - 1,108,463 - - 1,108,463 138,558
- - - - - - - -
- - 47,732,364 - - - 35,799,273 4,474,909
- 51,191 - 62,992,567 - - 63,360,257 7,920,032
- - - 115,947 994,305 - 1,607,405 200,926
- - - 5,394,298 685,345 - 6,422,316 802,790
2,088,024 11,224,533 47,732,364 69,611,275 1,679,650 - 116,410,244 14,551,281
- - - - - - - -
- - - - - - - -
- - - - - - - -
- 61,106 - - - - 33,484 4,186

127 - - - - - 367 46
- - - 1,050 - - 1,050 131
- - - - - - - -
- - 930,701 - - - 698,026 87,253
- - - 3,728,635 - - 3,728,635 466,079
- - - - - - - -
127 61,106 930,701 3,729,685 - - 4,461,562 557,695
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
217
Risk Management
Table 16. Disclosure of Net Receivables and Credit Risk Mitigation Techniques - Bank Stand Alone
(in Million Rp)
31 December 2021
Exposure which is Secured by
No. Portfolio Category Net
Receivables Credit
Collateral Guarantee Others
Insurance
(1) (2) (3) (4) (5) (6) (7)

1 Receivables on Sovereigns 42,839,581 - - - -
2 Receivables on Public Sector Entities 8,772,817 - - - -
3 Receivables on Multilateral Development Banks and - - - - -
4 Receivables on Banks 7,666,125 39 - - -
5 Loans Secured by Residential Property 4,346,679 - - - -
6 Loan Secured by Commercial Real Estate 1,235,850 65,712 - - -
7 Employee/Pensioner Loans - - - - -
8 Receivables on Micro, Small Business & Retail Portfolio 22,682,399 56,589 - - -
9 Receivables on Corporate 66,565,393 1,623,498 - - -
10 Past Due Receivables 372,899 - - - -
11 Other Assets 6,336,744 - - - -
Total Exposure on Balance Sheet 160,818,487 1,745,838 - - -

1 Receivables on Sovereigns - - - - -
2 Receivables on Public Sector Entities - - - - -
4 Receivables on Banks 223,400 - - - -
5 Loans Secured by Residential Property 783 - - - -
6 Loan Secured by Commercial Real Estate 1,050 - - - -
8 Receivables on Micro, Small Business & Retail Portfolio 228,892 250 - - -
9 Receivables on Corporate 4,876,827 113,972 - - -
10 Past Due Receivables - - - - -
Total Commitment/Contingencies Exposure for Off 5,330,952 114,222 - - -
Balance Sheet Transactions

4 Receivables on Banks - - - - -
5 Receivables on Micro, Small Business & Retail Portfolio - - - - -
6 Receivables on Corporate - - - - -
Total Counterparty Credit Risk Exposures 3,343,031 - - - -
Total (A+B+C) 169,492,470 1,860,060 - - -
218
Risk Management
31 December 2020
Unsecured Exposure Net Receivables Credit Unsecured Exposure
Insurance
(8) = (3)-[(4)+(5)+(6)+(7)] (9) (10) (11) (12) (13) (14) = (9)-
[(10)+(11)+(12)+(13)]
42,839,581 34,344,003 - - - - 34,344,003

8,772,817 6,602,228 - - - - 6,602,228
- - - - - - -
7,666,086 7,540,712 5,311 - - - 7,535,401

4,346,679 4,673,109 - - - - 4,673,109
1,170,138 1,229,565 121,102 - - - 1,108,463
- - - - - - -
22,625,810 24,878,530 67,817 - - - 24,810,713
64,941,895 66,401,189 1,494,972 - - - 64,906,217
372,899 842,607 27 - - - 842,580
6,336,744 7,877,377 - - - - 7,877,377
159,072,649 154,389,320 1,689,229 - - - 152,700,091
- - - - - - -
- - - - - - -
- - - - - - -
223,400 75,760 - - - - 75,760

783 1,738 - - - - 1,738
1,050 1,050 - - - - 1,050
- - - - - - -
228,642 949,461 18,760 - - - 930,701
4,762,855 3,821,920 93,284 - - - 3,728,636
- - - - - - -
5,216,730 4,849,929 112,044 - - - 4,737,885
3,343,031 12,148,377 - - - - 12,148,377

- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
3,343,031 12,148,377 - - - - 12,148,377
167,632,410 171,387,626 1,801,273 - - - 169,586,353
219
Risk Management
Table 16. Disclosure of Net Receivables and Credit Risk Mitigation Techniques - Consolidated
(in Million Rp)
31 December 2021
No. Portfolio Category Net
Receivables Credit
Insurance
(1) (2) (3) (4) (5) (6) (7)

2 Receivables on Public Sector Entities 8,773,321 - - - -
3 Receivables on Multilateral Development Banks - - - - -
and International Institutions
4 Receivables on Banks 8,542,888 39 - - -
5 Loans Secured by Residential Property 4,346,945 - - - -
6 Loan Secured by Commercial Real Estate 1,235,850 65,712 - - -
8 Receivables on Micro, Small Business & Retail Portfolio 42,281,603 56,589 - - -
9 Receivables on Corporate 66,983,271 1,623,498 - - -
10 Past Due Receivables 534,020 - - - -
11 Other Assets 7,480,523 - - - -
Total Exposure on Balance Sheet 183,018,002 1,745,838 - - -

1 Receivables on Sovereigns - - - - -
4 Receivables on Banks 223,400 - - - -
5 Loans Secured by Residential Property 783 - - - -
6 Loan Secured by Commercial Real Estate 1,050 - - - -
8 Receivables on Micro, Small Business & Retail Portfolio 228,892 250 - - -
9 Receivables on Corporate 4,876,825 113,972 - - -
10 Past Due Receivables - - - - -
Total Commitment/Contingencies Exposure for 5,330,950 114,222 - - -
Off Balance Sheet Transactions

4 Receivables on Banks - - - - -
5 Receivables on Micro, Small Business & Retail Portfolio - - - - -
6 Receivables on Corporate - - - - -
Total Counterparty Credit Risk Exposures 3,343,031 - - - -
Total (A+B+C) 191,691,983 1,860,060 - - -
220
Risk Management
31 December 2020
Unsecured Exposure Net Receivables Credit Unsecured Exposure
Insurance
(8) = (3)-[(4)+(5)+(6)+(7)] (9) (10) (11) (12) (13) (14) = (9)-
[(10)+(11)+(12)+(13)]
42,839,581 34,344,003 - - - - 34,344,003

8,773,321 6,602,654 - - - - 6,602,654
- - - - - - -
8,542,849 10,559,566 5,311 - - - 10,554,255

4,346,945 4,673,853 - - - - 4,673,853
1,170,138 1,229,565 121,102 - - - 1,108,463
- - - - - - -
42,225,014 47,800,180 67,817 - - - 47,732,363
65,359,773 66,249,200 1,494,972 - - - 64,754,228
534,020 1,110,280 27 - - - 1,110,253
7,480,523 8,917,772 - - - - 8,917,772
181,272,164 181,487,073 1,689,229 - - - 179,797,844
- - - - - - -
- - - - - - -
- - - - - - -
223,400 75,760 - - - - 75,760

783 1,738 - - - - 1,738
1,050 1,050 - - - - 1,050
- - - - - - -
228,642 949,461 18,760 - - - 930,701
4,762,853 3,821,921 93,284 - - - 3,728,637
- - - - - - -
5,216,728 4,849,930 112,044 - - - 4,737,886
3,343,031 12,148,377 - - - - 12,148,377

- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
3,343,031 12,148,377 - - - - 12,148,377
189,831,923 198,485,380 1,801,273 - - - 196,684,107
221
Risk Management
g. Disclosure of Assets Securitization • Fair value of transactions influenced by

Securitization is the process of taking non-liquid movements of certain market variables,
assets or asset groups and, through financial • Transactions resulting in the exchange of
engineering, transforming them into securities. cash flows or financial instruments,
Securities that are issued based on the transfer of • Bilateral in nature.
financial assets from the original borrower followed
by payment from the proceeds of the sale of asset- One of the transactions which may incite credit risk
backed securities to investors. due to the counterparty’s failure is over-the-counter
(OTC) derivative and repo/reverse repo transactions
As of 31 December 2021 Danamon did not have any for both Trading Book and Banking Book positions.
position of KIK EBA Assets.
For both Repo and Reverse Repo transactions,
h. Credit Risk Assessment using Standardized Danamon refers to OJK Circular No. 42/
Approach SEOJK.03/2016 regarding Guidelines on Risk
In calculating the Risk Weighted Assets (RWA) for Weighted Assets calculations for Credit Risk using
credit risk, Danamon applies the Standardized the Standardized Approach. For Repo Transactions,
Approach, which refers to OJK regulations, i.e. OJK Danamon records a positive difference between the
Circular No. 42/SEOJK.03/2016 regarding Calculation net carrying values of securities as the underlying
In calculating RWA for credit risk. repo with carrying values of the obligated repo. Net
carrying value of securities is the carrying value of
i. Credit Risk Due to Failure of Counterparty securities after deductions by LLP/ECL IFRS9 of
Counterparty Credit Risk arises from the type of securities. For Reverse Repo Transactions, Danamon
transactions that are generally affected by the records the value of reverse repo receivables after
following characteristics: deductions by LLP/ECL IFRS9 of receivables.
• Transactions influenced by the movement of
fair value or market value,
Table 17. Calculation of the Standardized Approach of Credit Risk Weighted Assets - Bank Stand Alone
1. Disclosure of Asset Exposures in the Balance Sheet

(in Million Rp)
No. Portfolio Category RWA
Net RWA before RWA after Net RWA after
before
Receivables CRM CRM Receivables CRM
CRM
(1) (2) (3) (4) (5) (6) (7) (8)
1 Receivables on Sovereigns 42,839,581 - - 34,344,003 - -
a. Receivables on Indonesia 42,839,581 - - 34,344,003 - -
Sovereigns
b. Receivables on Others - - - - - -
Sovereigns
2 Receivables on Public Sector 8,772,817 4,248,179 4,248,179 6,602,228 3,215,232 3,215,232
Entities
3 Receivables on Multilateral - - - - - -
4 Receivables on Banks 7,666,125 2,799,241 2,799,221 7,540,712 2,966,824 2,964,168
a. Short Term Receivables 2,130,748 426,150 426,150 1,539,086 307,817 307,817
b. Long Term Receivables 5,535,377 2,373,091 2,373,071 6,001,626 2,659,007 2,656,351
5 Loans Secured by Residential 4,346,679 1,256,628 1,256,628 4,673,109 1,328,997 1,328,997
Property
6 Loan Secured by Commercial 1,235,850 1,235,850 1,170,138 1,229,565 1,229,565 1,108,463
Real Estate
7 Employee/Pensioner Loans - - - - - -
222
Risk Management
(in Million Rp)

No. Portfolio Category RWA
Net RWA before RWA after Net RWA after
before
Receivables CRM CRM Receivables CRM
CRM
(1) (2) (3) (4) (5) (6) (7) (8)
8 Receivables on Micro, Small 22,682,399 17,011,799 16,969,358 24,878,530 18,658,898 18,608,036
9 Receivables on Corporate 66,565,393 64,806,828 63,183,330 66,401,189 64,967,652 63,472,681
10 Past Due Receivables 372,899 550,760 550,760 842,607 1,206,032 1,205,992
a. Loans Secured by 17,177 17,177 17,177 115,757 115,757 115,757
Residential Property
b. In Addition to Loans 355,722 533,583 533,583 726,850 1,090,275 1,090,235
Secured by Residential
Property
11 Other Assets 6,336,744 - 4,003,608 7,877,376 - 5,458,094
a. Cash, Gold and 2,635,688 - - 2,761,954 - -
Commemorative Coin
b. Investment (in addition to 82,078 - 84,018 107,213 - 109,153
being a deduction factor
for capital)
1) Temporary capital - - - - - -
investment in the context
of credit restructuring
2) Investment in financial 3,880 - 5,820 3,880 - 5,820
companies that are not
listed on the stock exchange
3) investment in financial 78,198 - 78,198 103,333 - 103,333
companies listed on the
stock exchange
c. Fixed Assets and Net 1,405,939 - 1,405,939 1,546,378 - 1,546,378
Inventory
d. Foreclosed Assets 601,223 - 901,835 681,465 - 1,022,198
e. Net Interbranch Assets - - - - - -
f. Others 1,611,816 - 1,611,816 2,780,366 - 2,780,366
TOTAL 160,818,487 91,909,285 94,181,222 154,389,320 93,573,200 97,361,663
2. Disclosure of Commitments/Contingencies Exposure for Off Balance Sheet Transactions

(in Million Rp)
No. Portfolio Category Net RWA before RWA after Net RWA before RWA after
Receivables CRM CRM Receivables CRM CRM
(1) (2) (3) (4) (5) (6) (7) (8)
1 Receivables on Sovereigns - - - - - -
a. Receivables on Indonesia - - - - - -
Sovereigns
Sovereigns
2 Receivables on Public Sector - - - - - -
Entities
4 Receivables on Banks 223,400 110,601 110,601 75,760 33,484 33,484
a. Short Term Receivables 3,664 733 733 14,654 2,931 2,931
b. Long Term Receivables 219,736 109,868 109,868 61,106 30,553 30,553
223
Risk Management
(in Million Rp)

(1) (2) (3) (4) (5) (6) (7) (8)
5 Loans Secured by Residential 783 159 159 1,738 367 367
Property
6 Loan Secured by Commercial 1,050 1,050 1,050 1,050 1,050 1,050
Real Estate
8 Receivables on Micro, Small 228,892 171,669 171,481 949,461 712,096 698,026
10 Past Due Receivables - - - - - -
a. Loans Secured by - - - - - -
b. In Addition to Loans - - - - - -
Secured by Residential
Property
TOTAL 5,330,952 5,160,306 5,046,146 4,849,929 4,568,917 4,461,562
3. Disclosure of Exposures causing Counterparty Credit Risk

(in Million Rp)
(1) (2) (3) (4) (5) (6) (7) (8)
Sovereigns
Sovereigns
Entities
4 Receivables on Banks - - - - - -
a. Short Term Receivables - - - - - -
b. Long Term Receivables - - - - - -
5 Receivables on Micro, Small - - - - - -
6 Receivables on Corporate - - - - - -
TOTAL 3,343,031 - - 12,148,377 - -
4. Disclosure of Exposures causing Credit Risk due to Settlement Risk
There is no exposure that cause Credit Risk due to Settlement Risk in 31 December 2021 and 31 December 2020.
5. Disclosure of Securitization Exposures

There is no exposure of Securitization in 31 December 2021 and 31 December 2020.
224
Risk Management
6. Disclosures of Derivative Exposure

(in Million Rp)
(1) (2) (3) (4) (5) (6) (7) (8)
1. Receivables on Sovereigns 3,536 - - 3,632 - -
a. Receivables on Indonesia 3,536 - - 3,632 - -
Sovereigns
Sovereigns
2. Receivables on Public Sector 77,002 38,501 38,501 - - -
Entities
3. Receivables on Multilateral - - - - - -
4. Receivables on Banks 532,462 210,249 210,249 525,015 215,001 215,001
a. Short Term Receivables 186,606 37,321 37,321 158,355 31,671 31,671
5. Receivables on Micro, Small 20,066 15,050 15,050 54,817 41,113 41,113
6. Receivables on Corporate 108,770 108,770 108,770 182,741 182,741 182,741
7. Credit Valuation Adjustment 26,551 59,258
risk weighted assets
TOTAL 741,836 372,570 399,121 766,205 438,855 498,113
7. Total Credit Risk Measurement (1+2+3+4+5+6)

(in Million Rp)
Portfolio Category 31 December 2021 31 December 2020
TOTAL CREDIT RISK RWA (A) 99,626,489 102,321,338
RWA CREDIT RISK DEDUCTION FACTOR : Diffirence between (B) - -
General allowance for possible losses on earning assets
(max. 1.25% of RWA Credit Risk)
TOTAL CREDIT RISK RWA (A) - (B) (C) 99,626,489 102,321,338
TOTAL CAPITAL DEDUCTION FACTOR (D) - -
Table 17. Calculation of the Standardized Approach of Credit Risk Weighted Assets - Consolidated
1. Disclosure of Asset Exposures in the Balance Sheet

(in Million Rp)
(1) (2) (3) (4) (5) (6) (7) (8)
Sovereigns
Sovereigns
2 Receivables on Public Sector 8,773,321 4,248,431 4,248,431 6,602,654 3,215,445 3,215,445
Entities
225
Risk Management
(in Million Rp)

(1) (2) (3) (4) (5) (6) (7) (8)
4 Receivables on Banks 8,542,888 2,974,594 2,974,574 10,559,566 3,570,595 3,567,939
a. Short Term Receivables 3,007,511 601,502 601,502 4,557,940 911,588 911,588
b. Long Term Receivables 5,535,377 2,373,091 2,373,071 6,001,626 2,659,007 2,656,351
5 Loans Secured by Residential 4,346,945 1,256,681 1,256,681 4,673,853 1,329,146 1,329,146
Property
6 Loan Secured by Commercial 1,235,850 1,235,850 1,170,138 1,229,565 1,229,565 1,108,463
Real Estate
8 Receivables on Micro, Small 42,281,603 31,711,202 31,668,761 47,800,180 35,850,135 35,799,273
10 Past Due Receivables 534,020 792,435 792,435 1,110,280 1,607,446 1,607,406
a. Loans Secured by Residential 17,190 17,190 17,190 115,948 115,948 115,948
Property
b. In Addition to Loans Secured 516,830 775,245 775,245 994,332 1,491,498 1,491,458
by Residential Property
11 Other Assets 7,480,523 - 4,993,519 8,917,771 - 6,422,315
a. Cash, Gold and 2,789,555 - - 2,838,128 - -
Commemorative Coin
b. Investment (in addition to being 82,078 - 84,018 107,213 - 109,153
a deduction factor for capital)
1) Temporary capital - - - - - -
investment in the context
of credit restructuring
2) Investment in financial 3,880 - 5,820 3,880 - 5,820
companies that are not
listed on the stock exchange
3) investment in financial 78,198 - 78,198 103,333 - 103,333
companies listed on the
stock exchange
c. Fixed Assets and Net Inventory 1,895,474 - 1,895,474 2,105,692 - 2,105,692
d. Foreclosed Assets 601,223 - 901,835 681,465 - 1,022,198
e. Net Interbranch Assets - - - - - -
f. Others 2,112,193 - 2,112,193 3,185,273 - 3,185,273
TOTAL 183,018,002 106,957,632 110,219,480 181,487,072 111,657,560 116,410,244
226
Risk Management
2. Disclosure of Commitments/Contingencies Exposure for Off Balance Sheet Transactions

(in Million Rp)
(1) (2) (3) (4) (5) (6) (7) (8)
1 Receivables on Sovereigns - - - - - -
a. Receivables on Indonesia - - - - - -
Sovereigns
Sovereigns
Entities
4 Receivables on Banks 223,400 110,601 110,601 75,760 33,484 33,484
a. Short Term Receivables 3,664 733 733 14,654 2,931 2,931
5 Loans Secured by Residential 783 159 159 1,738 367 367
Property
6 Loan Secured by Commercial 1,050 1,050 1,050 1,050 1,050 1,050
Real Estate
8 Receivables on Micro, Small 228,892 171,669 171,481 949,461 712,096 698,026
10 Past Due Receivables - - - - - -
a. Loans Secured by - - - - - -
b. In Addition to Loans Secured - - - - - -
by Residential Property
TOTAL 5,330,950 5,160,304 5,046,144 4,849,929 4,568,917 4,461,562
3. Disclosure of Exposures causing Counterparty Credit Risk

(in Million Rp)
(1) (2) (3) (4) (5) (6) (7) (8)
Sovereigns
Sovereigns
Entities
4 Receivables on Banks - - - - - -
a. Short Term Receivables - - - - - -
b. Long Term Receivables - - - - - -
5 Receivables on Micro, Small - - - - - -
6 Receivables on Corporate - - - - - -
TOTAL 3,343,031 - - 12,148,377 - -
227
Risk Management
4. Eksposur yang Menimbulkan Risiko Kredit akibat Kegagalan Setelmen (settlement risk)
There is no exposure that cause Credit Risk due to Settlement Risk in 31 December 2021 and 31 December 2020.
5. Eksposur Sekuritisasi
There is no exposure of Securitization in 31 December 2021 and 31 December 2020.
6. Disclosures of Derivative Exposure

(in Million Rp)
(1) (2) (3) (4) (5) (6) (7) (8)
1. Receivables on Sovereigns 3,536 - - 3,632 - -
a. Receivables on Indonesia 3,536 - - 3,632 - -
Sovereigns
Sovereigns
2. Receivables on Public Sector 77,002 38,501 38,501 - - -
Entities
3. Receivables on Multilateral - - - - - -
4. Receivables on Banks 635,107 261,572 261,572 714,941 309,964 309,964
a. Short Term Receivables 186,606 37,321 37,321 158,355 31,671 31,671
5. Receivables on Micro, Small 20,066 15,050 15,050 54,817 41,113 41,113
6. Receivables on Corporate 108,770 108,770 108,770 182,740 182,740 182,740
7. Credit Valuation Adjustment 53,319 203,107
risk weighted assets
TOTAL 844,481 423,893 477,212 956,130 533,817 736,924
7. Total Credit Risk Measurement (1+2+3+4+5+6)

(in Million Rp)
TOTAL CREDIT RISK RWA (A) 115,742,836 121,608,730
RWA CREDIT RISK DEDUCTION FACTOR : Diffirence between (B) - -
General allowance for possible losses on earning assets
(max. 1.25% of RWA Credit Risk)
TOTAL CREDIT RISK RWA (A) - (B) (C) 115,742,836 121,608,730
TOTAL CAPITAL DEDUCTION FACTOR (D) - -
Table 18. Exposure Counterparty Credit Risk (CCR1) Analysis - Bank Stand Alone
(in Million Rp)
Potential
Alpha used for
Replacement future Net
EEPE EAD regulatory RWA
Cost (RC) exposure Receivables
calculation
(PFE)
1 SA-CCR (for derivative) 182,737 347,145 1.4 741,835 372,569
2 Internal Model Method (For N/A N/A
Derivative and SFT)
3 Basic Approach for credit risk N/A N/A
mitigation (for SFT)
4 Comprehensive approach for N/A N/A
credit risk mitigation (For SFT)
228
Risk Management
(in Million Rp)
Potential
Alpha used for
calculation
(PFE)
5 VaR for SFT N/A N/A
6 Total 372,569
Qualitative Analysis
The Amount of SA-CCR Net Receivables (for derivative) for Bank stand alone at the end of December 2021 (IDR 742 billion)
decreased compared to December 2020 position (IDR 766 billion). Hence, the amount of SA-CCR RWA ( for derivative) for Bank
stand alone at the end of December 2021 (IDR 373 billion) also decreased compared to December 2020 position (IDR 439 billion).
Table 18. Exposure Counterparty Credit Risk (CCR1) Analysis - Consolidated

(in Million Rp)
Potential
Alpha used for
calculation
(PFE)
1 SA-CCR (for derivative) 187,297 415,903 1.4 844,480 423,892
2 Internal Model Method (For N/A N/A
Derivative and SFT)
3 Basic Approach for credit risk N/A N/A
mitigation (for SFT)
4 Comprehensive approach for N/A N/A
credit risk mitigation (For SFT)
5 VaR for SFT N/A N/A
6 Total 423,892
The Amount of SA-CCR Net Receivables (for derivative) for consolidated at the end of December 2021 (IDR 844
billion) decreased compared to December 2020 position (IDR 956 billion). Hence, the amount of SA-CCR RWA ( for
derivative) for consolidated at the end of December 2021 (IDR 424 billion) also decreased compared to December
2020 position (IDR 534 billion).
Table 19. Capital Charge for Credit Valuation Adjustment (CCR2) - Bank Stand Alone
(in Million Rp)
Net Receivables RWA
Total portfolios based on Advanced CVA capital charge N/A N/A
1. (i) VaR components (includes 3x multiplier) N/A
2. (ii) Stressed VaR Component (includes 3x multiplier N/A
3. All portfolios based on Standardized CVA Capital Charge 741,835 26,551
4. Total based on CVA Capital Charge 741,835 26,551
The Amount of Total RWA based on CVA Capital Charge for Bank stand alone at the end of December 2021 (IDR 27
billion) decreased compared to December 2020 (IDR 59 billion).
229
Risk Management
Table 19. Capital Charge for Credit Valuation Adjustment (CCR2) - Consolidated
(in Million Rp)
Net Receivables RWA
Total portfolios based on Advanced CVA capital charge N/A N/A
1. (i) VaR components (includes 3x multiplier) N/A
2. (ii) Stressed VaR Component (includes 3x multiplier N/A
3. All portfolios based on Standardized CVA Capital Charge 844,480 53,319
4. Total based on CVA Capital Charge 844,480 53,319
The Amount of Total RWA based on CVA Capital Charge Bank Consolidated at the end of December 2021 (IDR 53
billion) decreased compared to December 2020 position (IDR 203 billion).
Table 20. CCR Exposure based on Portfolio Category and Risk Weight (CCR3) - Bank Stand AlonE
(in Million Rp)
Risk Weight
0% 10% 20%
Portfolio Category Indonesia
Receivables on Sovereigns and Central Bank 3,536
Receivables on Public Sector Entities
Receivables on Multilateral Development Banks and International Institutions
Receivables on Banks 186,606
Receivables on Security Firms
Receivables on Corporates
Receivables on Micro, Small and Retail Businesses Portfolio
Other Assets
Total 3,536 - 186,606
Table 20. CCR Exposure based on Portfolio Category and Risk Weight (CCR3) - Consolidated
(in Million Rp)
Risk Weight
0% 10% 20%
Portfolio Category Indonesia
Receivables on Sovereigns and Central Bank 3,536
Receivables on Public Sector Entities
Receivables on Multilateral Development Banks and International
Institutions
Receivables on Banks 186,606
Receivables on Security Firms
Receivables on Corporates
Receivables on Micro, Small and Retail Businesses Portfolio
Other Assets
Total 3,536 - 186,606
230
Risk Management
Total Net
50% 75% 100% 150% Others
Receivables
3,536
77,002 77,002
-
345,856 532,462
-
108,770 108,770
20,066 20,066
-
422,858 20,066 108,770 - - 741,835
Total Net
50% 75% 100% 150% Others
Receivables
3,536
77,002 77,002
-
448,501 635,107
-
108,770 108,770
20,066 20,066
-
525,503 20,066 108,770 - - 844,480
231
Risk Management
2. Market Risk This risk is an inherent part of the banking business.

Market Risk Management Implementation Proper risk management could turn an exposure into
Market Risk Management is a top-down process within an additional source of income, which could increase
the Bank’s organizational structure, starting from the Risk shareholders’ value. However, excessive exposure to
Oversight Committee, the Board of Directors through interest rate risk could create a significant threat to a
the Assets and Liabilities Committee (ALCO), and senior bank’s income and capital. Monitoring of interest rate
management actively involved in the planning, approval, risk on the banking book is carried out daily by the MLR
review, and study of all risks involved. Division.
Trading risk is primarily managed through a limit In general, market risk measurement covers
structure and monitored daily by the Market and foreign exchange risk and interest rate risk in the
Liquidity Risk (MLR) Division, which includes exchange Danamon Trading Book and Banking Book. Market
risk and interest rate risk. risk measurement includes the valuation of financial
instruments, calculation of market risk capital charge,
On the other hand, interest rate risk in the banking book stress testing, and sensitivity analysis. The methodology
is an exposure arising from adverse interest rate market of market risk measurement refers to regulatory
movement on the Bank’s balance sheet. requirements and general banking industry standards
in market risk management.
MARKET RISK
TAble 21. Disclosure of Market Risks by Using Standardized Approach
(In Million Rp)

Individual Consolidated Individual Consolidated
No Risk Type
Capital Capital Capital Capital
RWA RWA RWA RWA
Charge Charge Charge Charge
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
1 Interest Rate Risk 43,713 546,418 43,713 546,418 52,556 656,953 52,556 656,953
a. Specific Risk 356 4,450 356 4,450 693 8,662 693 8,662
b. General Risk 43,357 541,968 43,357 541,968 51,863 648,291 51,863 648,291
2 Foreign Exchange Risk 20,821 260,260 20,867 260,834 37,308 466,354 37,683 471,043
3 Equity Risk
4 Commodity Risk
5 Option Risk
Portfolio Accounted for Minimum Capital Requirement Anticipating Market Risk for Foreign Exchange
Danamon is committed to meet the Minimum Capital Transactions
Adequacy (CAR) as stipulated by the regulator. Therefore, To anticipate the market risks faced, Danamon’s market
on a monthly basis, the Bank will calculate market risk RWA risk management is based on the following principles:
based on a standardized approach. In the calculation, the
Bank takes two exposures into account, namely interest • The Bank should establish a sound and
rate risk exposure and foreign exchange (FX) risk exposure. comprehensive market risk management
Interest rate risk exposure consists of specific risks and system that is closely integrated with its day-to-
general risks, which cover debt, debt related instruments, day risk management process and system.
and interest rate derivatives in the Trading Book. On the • The market risk management involves
other hand, FX risk exposure is calculated for foreign identification, measurement, monitoring, control,
exchange risk in the Trading Book and Banking Book. and risk management information systems of
all market risks materials/factors, including
sound capital adequacy assessment associated
with the risks. Ultimately, through market risk
management, the Bank seeks to ensure that it
232
Risk Management
does not take market risk beyond its capacity to approved by ALCO, including managing the gap risk,
absorb the potential losses. repricing risk, and other risks associated with the
• Policies and procedures are structured with due IRRBB, as well as performing necessary interest rate
observance of the prudence principle as the hedging. The management is performed based on
foundation of a robust risk management system. the decisions and mandates given by ALCO as a
• The market risk management system of the senior management committee, which is the apex
Bank should be commensurate with the scope, body entrusted for interest rate risk management
size, and complexity of its activities. and is the owner of the IRRBB limit.
• The market risk management system should
cover all material market risks, both on- and off- MLR is an independent function within the Bank that
balance sheet. is responsible for managing market and liquidity
risk. The responsibility of the MLR in relation to the
Risk Management Implementation of Interest management of the IRRBB includes:
Rate Risk in Banking Book (IRRBB) • Identifying, measuring, monitoring, and
a. IRRBB Definition reporting risk exposure in accordance with
Interest Rate Risk in Banking Book (IRRBB) refers to regulations, methods, and policies related to
the current or prospective risks to the Bank’s capital IRRBB.
and earnings arising from adverse movements in • Developing and reviewing related policies,
interest rates that affect the Bank’s Banking Book guidelines, methods, and procedures in
positions. managing IRRBB.
• Reviewing the limits associated with IRRBB
Included in the IRRBB exposure are any instruments on a regular basis to ensure they remain
or positions that are sensitive to interest rates but adequately set.
are not included in the Trading Book/Fair Value
to Profit and Loss (FVPL). This includes financial c. Periodization of IRRBB Calculations and
instruments or assets that are recorded as Measurements Used to Measure Sensitivity to
Available-for-Sale (AFS)/Fair Value to OCI (FVOCI) IRRBB
and as Held-to-Maturity (HTM). Internally, the Bank measures and monitors IRRBB
exposures through the ΔEVE and ΔNII methods on
b. Risk Management Strategy and Risk Mitigation a monthly basis.
for IRRBB
IRRBB is managed for each exposure in a currency d. Interest Rate Shock Scenario and Stress
with material (major) exposures, i.e. those Scenario Being Used
accounting for a minimum of 5% of either Banking In accordance with the POJK, IRRBB exposure
Book assets or liabilities. The major currencies must measurement through ΔEVE is conducted based
be actively managed by Treasury and independently on 6 (six) interest rate shock scenarios, as follow:
monitored by Risk Management. • Parallel shock up,
• Parallel shock down,
In relation to the above, the BOD delegates the • Steepener shock,
authority to the Assets and Liabilities Committee • Flattener shock,
(ALCO) to monitor and review the structure and • Short rates shock up, and
trends of the balance sheet in terms of, inter alia, • Short rates shock down.
interest rate risk, including interest rate risk in
Banking Book (IRRBB). Accordingly, ALCO should IRRBB exposure measurement through ΔNII is
conduct regular meetings that include agenda conducted based on 2 (two) interest rate shock
items related to IRRBB. scenarios, as follows:
• Parallel shock up,
In general, ALCO’s management of IRRBB is • Parallel shock down.
supported by the Treasury and Capital Market (TCM)
Division and the Market and Liquidity Risk (MLR)
Unit.
The TCM has an active role in managing IRRBB

exposure within the limits and parameters
233
Risk Management
The amount of interest rate shock used by the the ΔEVE calculation, the Bank does not
Bank in calculating ΔEVE and ΔNII follows the include commercial margin components
scenario set by the OJK, which is as follows: and other spread components.
(in bps) IDR USD 2. Determination of repricing maturities for
NMD is conducted based on a behavioural
Parallel 400 200
analysis of NMD using sufficient historical
Short 500 300 data.
Long 350 150 3. The methodology used to estimate loan
prepayment rates and TD early withdrawal
rates is the maximum value of prepayment
e. Modelling Assumptions that Are Different rates and early withdrawal rates based on
from the Standardized Approach historical data.
For the purpose of IRRBB disclosure, the Bank 4. At present there are no other assumptions
uses the standardized approach as stipulated in that have a material impact on ∆EVE and ∆NII
the OJK Circular. that were excluded from the calculations.
5. The method of aggregation between
As a complement to managing interest rate risk, currencies is as follows:
under the Internal Capital Assessment Adequacy • For the purpose of measurement on a
Process (ICAAP), the Bank also conducts IRRBB consolidated basis, the calculation is
simulations using the standardized approach performed by combining the results of
by using internal assumptions of interest rate the ΔEVE and ∆NII values of each entity
shock. based on the same interest rate scenario
category and the same currency type.
f. Hedging of IRRBB and Related Accounting • For the purpose of measurement
Treatments in aggregation between significant
In the event that an activity uses hedge currencies, the calculation is performed
accounting, the activity is taken into account in by summing up the worst ΔEVE and ∆NII
the measurement of IRRBB. for each type of significant currency.
As of the December 2021 report, the Bank’s Quantitative Analysis

subsidiary had hedge accounting activities, which 1. Average repricing maturity for NMD as of the end of
were included in the scope of the consolidated December 2021 is determined based on a behavioural
IRRBB calculation. analysis of NMD using sufficient historical data.
2. Maximum repricing maturity for NMD as of the end
g. Main Modelling Assumptions and Parametric of December 2021 is determined through internal
Used in ∆EVE and ∆NII Calculations assumption.
1. In calculating cash flows and discounts on
Table 22. Interest Rate Risk in Banking Book - IRRBB Calculation Report - Bank Stand Alone
Bank Name : P.T. Bank Danamon Tbk (Individual)
Report Position : 31 December 2021
Currency : IDR
In Million Rp ΔEVE ΔNII
Period 31-Dec 30-Sep 31-Dec 30-Sep
Parallel Up (3,282,223) (3,164,261) (732,613) (769,473)
Parallel Down 3,685,016 3,498,583 (959,730) (994,147)
Steepener 667,468 638,817
Flattener (1,355,591) (1,331,000)
Short Rate Up (2,537,679) (2,445,561)
Short Rate Down 2,635,751 2,484,183
Maximum Value Negative (Absolute) 3,282,223 3,164,261 959,730 994,147
234
Risk Management
Tier 1 Capital (for ΔEVE) or Projected Income (for ΔNII) 31,031,292 31,721,384 8,513,768 8,513,768
Maximum Value divided by Tier 1 Capital (for ΔEVE) 10.58% 9.98% 11.27% 11.68%
or Projected Income (for ΔNII)
Currency : USD
Parallel Up (101,590) (136,786) (39,020) (27,141)
Parallel Down 5,058 (2,690) (130,754) (93,263)
Steepener 90,525 122,035
Flattener (79,564) (107,218)
Short Rate Up (113,368) (152,725)
Short Rate Down 20,075 4,599
Maximum Value Negative (Absolute) 113,368 152,725 130,754 93,263
Currency : Combined (IDR & USD)

Maximum Value Negative (Absolute)" 3,395,591 3,316,986 1,090,484 1,087,410
Tier 1 Capital (for ΔEVE) or Projected Income (for 31,031,292 31,721,384 8,513,768 8,513,768
ΔNII)
Table 22. Interest Rate Risk in Banking Book - IRRBB Calculation Report - Consolidated
Bank Name : P.T. Bank Danamon Tbk (Consolidated)
Report Position : 31 December 2020
Currency : IDR
Parallel Up (3,825,162) (3,620,825) (666,608) (687,506)
Parallel Down 4,290,319 3,993,940 (1,028,198) (1,079,170)
Steepener 766,753 735,086
Flattener (1,572,863) (1,525,377)
Short Rate Up (2,949,695) (2,801,441)
Short Rate Down 3,070,661 2,844,825
Maximum Value Negative (Absolute) 3,825,162 3,620,825 1,028,198 1,079,170
235
Risk Management
Currency : USD
Parallel Up (101,590) (136,786) (39,020) (27,141)
Parallel Down 5,058 (2,690) (130,754) (93,263)
Steepener 90,525 122,035
Flattener (79,564) (107,218)
Short Rate Up (113,368) (152,725)
Short Rate Down 20,075 4,599
Maximum Value Negative (Absolute) 113,368 152,725 130,754 93,263
Currency : Combined (IDR & USD)

Maximum Value Negative (Absolute)" 3,938,530 3,773,550 1,158,952 1,172,434
Tier 1 Capital (for ΔEVE) or Projected Income (for 38,991,605 39,103,781 15,624,876 15,624,876
ΔNII)
3. Liquidity Risk d. Developing effective contingency plans.

Liquidity Risk Management Governance e. Improving resilience in the event of a sharp
Liquidity risk management is a top-down process, decline of liquidity risk and demonstrating
starting from the Risk Oversight Committee of the Board Danamon’s ability to address closed access to
of Commissioners and the Board of Directors/Senior one or more financial markets by ensuring that
Management through ALCO, which are actively involved funding can be generated through a variety of
in the planning, approval, review, and assessment of all sources.
risks involved.
ALCO, as Danamon’s senior management committee,
In order to evaluate the fulfilment of liquidity, ALCO serves as the apex body assigned to oversee and evaluate
has a wide scope of authority delegated by the Board the structure and trends of the balance sheet in terms
of Directors to manage the structure of assets and of liquidity, interest rates, and capital management. This
liabilities, including the funding strategies of Danamon. includes the establishment of policies and procedures,
ALCO focuses on liquidity management with the the determination of a limit framework, and evaluation
following objectives: of strategies on the balance sheet with the objectives
of providing adequate liquidity and capital for Danamon,
a. Understanding the various liquidity risk sources as well as a diversified funding structure.
and integrating the characteristics and risks
of various liquidity sources, particularly under Danamon manages liquidity risks through liquidity
stress conditions. gap analysis and liquidity ratios. Liquidity risks are
b. Developing a comprehensive risk approach to measured and monitored on a daily basis based on the
ensure compliance with the overall risk appetite. limit framework of liquidity risks.
c. Determining relevant funding strategies to meet
liquidity requirements, including by consolidating
all funding resources.
236
Risk Management
The monitoring and control processes are conducted Stress Test

through the Liquidity Risk Limit mechanism. MLR is an Liquidity-risk stress testing assesses the Bank’s capacity
independent division (as the Second Line of Defense) to withstand plausible scenarios of a range of severities
that monitors the limits relevant to liquidity risk on a under various market and/or firm-specific conditions,
daily basis by taking into account the risk appetite and thereby identifying the Bank’s vulnerabilities to specific
business strategy direction of the Bank. sources of liquidity risk.
Funding Strategy Stress tests should be designed to assess the

As part of the liquidity risk management process, liquidity risk of the portfolios and the liquidity
Danamon implements a funding strategy through management strategies of the Bank under extraordinary
a diversified third-party fund (TPS) composition in circumstances. The scenarios used by Danamon are:
wholesale and retail segment financing. One of the
ways to monitor the funding strategy is through the a. General Market Stress/Systemic Problem
concentration of funding for large fund providers that The aim of this scenario is to depict the situation
are monitored daily. wherein liquidity at a large number of financial
institutions in the country is affected. This may be
Liquidity Risk Mitigation Technique triggered by a major macroeconomic and financial
In mitigating liquidity risks, Danamon’s liquidity risk problem or a political crisis in the country that
management is based on the following principles: causes the customers to lose confidence in the
a. Strategies, policies and practices are geared banking system. A systemic situation arising from
towards managing liquidity risk to provide market scenarios that are not directly related to the
sufficient liquidity. Bank (e.g. sharp fall and high volatility in asset prices,
b. There should be robust processes in place market panic, sudden dry-up in short-term funding
for identifying, measuring, monitoring, and markets, and financial/economic difficulties).
controlling liquidity risk.
c. The risk management function responsible for b. Bank-Specific Stress/Name Problem
liquidity risk management should be structurally The aim of this scenario is to depict the situation
and functionally independent from the liquidity wherein liquidity stress arises as a result of the Bank
risk-taking function (Risk-Taking Unit). itself experiencing either real or perceived problems.
d. There should be active monitoring and control These problems include deteriorating asset quality,
of current and potential liquidity-risk exposures. major fraud cases, large trading losses, rumours
e. Funding sources and tenors should be effectively about the Bank’s credibility or a downgrade in its
diversified to minimise excessive funding credit rating, and exceptional losses arising from
concentrations. market/credit/operational issues; this generally
f. A comprehensive Contingency Funding Plan leads to an erosion of public trust in the Bank,
(CFP) that sets out the strategies for addressing deposit runs, and overall shortness in liquidity.
liquidity shortfalls in crisis situations should be
in place and tested periodically to assess its Liquidity Risk Measurements
effectiveness and operational feasibility. In general, the assessment of liquidity risk may be
g. The Bank should maintain, on an ongoing grouped into regulatory measurements and internal or
basis, a liquidity reserve of high-grade liquid non-regulatory measurements. To measure regulatory
assets, corresponding to the risk tolerance and liquidity risk, the Bank internally set additional
prevailing regulations. thresholds from those pre-set by regulations, where
h. The Bank’s liquidity stress tests should include such thresholds are more conservative than those set
the on- and off-balance sheet components. by regulations.
237
Risk Management
LIQUIDITY RISK
Table 23. Liquidity Adequacy Ratio (LCR) Calculation Report

(in Million Rp)
INDIVIDUAL
31-Dec-21 30-Sep-21
The
The outstanding The value of HQLA after a haircut The value of HQLA after a haircut
No. Component outstanding
value of or outstanding liabilities and or outstanding liabilities and
value of
liabilities and commitments multiplied by commitments multiplied by
liabilities and
commitments the run-off rate or the value of the run-off rate or the value of
commitments
/ contractual contractual invoices times the contractual invoices times the
/ contractual
invoice value inflow rate inflow rate
invoice value
1 Total data points used 65 days 63 days
in the calculation of
the LCR
HIGH QUALITY LIQUID ASSET (HQLA)
2 Total High Quality 46,261,467 48,974,413
Liquid Asset (HQLA)
CASH OUTFLOWS
7 CASH OUTFLOWS 47,349,017 46,455,849
CASH INFLOWS
11 CASH INFLOWS 26,437,764 22,443,998 26,064,822 20,939,318
TOTAL ADJUSTED VALUE1 TOTAL ADJUSTED VALUE1
12 TOTAL HQLA 46,261,467 48,974,413
13 NET CASH OUTFLOWS 24,905,018 25,516,531
14 LCR (%) 185.75% 191.93%
Individual Analysis
In general, the liquidity condition of PT Bank Danamon Indonesia Tbk (“Danamon”) is still very good. Liquidity risk management is supported
by measurement of liquidity risk parameters that indicate a low level of risk. In addition, the Bank is also supported by strong capital.
In accordance with POJK No. 42/POJK.03/2015, Banks are obliged to perform Individual and Consolidated quarterly reports for BUKU 4 Banks
for the position of the December 2020 report based on the daily average from October - December 2020.
The average LCR ratio of Danamon individually for Quarter-IV 2020 was 189.26%. This ratio is still above the minimum ratio value stipulated
in POJK No.42/ POJK.03/2015 which is 100% and revised through OJK Regulation number 48/POJK.03/2020 concerning National Economic
Stimulus as a Countercyclical Policy as the impact of the spread of Coronavirus Disease 2019, which is 85% valid until March 31, 2022.
The composition of the LCR for Quarter-IV 2020 is described in the section below.
The composition of High Quality Liquid Assets (HQLA) owned by the Bank in Quarter-IV 2020 was still dominated by Placements with Bank
Indonesia (BI) and securities issued by the Central Government and BI. On average, during Quarter-IV 2020, the largest composition of HQLA
was securities issued by the Central Government and BI, amounting to 80.56% of the total HQLA, followed by Placements with BI of 15.49%,
cash or cash equivalents 3.75 %, Corporate Bonds Level 2A at 0.15% and Corporate Bonds Level 2B at 0.05%.
The composition of Third Party Funds (TPF) owned by the Bank remains diversified the wholesale and retail segments. To maintain the
stability of TPF so as not to be concentrated on a particular party, as risk mitigation, the Bank internally monitors the funding concentration
ratio on a daily basis and continues to make efforts to diversify TPF in a sustainable manner.
Overall, the total derivative transactions conducted by the Bank did not have a significant impact on the LCR calculation. In terms of
composition, the comparison of the net cash outflow of derivative transactions (derivative transaction cash outflow minus derivative
transaction cash inflow) to the total net cash outflow is 0.17%, with the cash inflow of derivative transactions being greater than the cash
outflow of derivative transactions. In addition, the background for derivative portfolio activities is still limited to plain vanilla products, most
of which are carried out for hedging needs, supporting customer transactions, or liquidity needs in Balance Sheet Management.
The implementation of the Bank’s liquidity management in accordance with what we have reported in the liquidity risk profile includes the
following:
1. In terms of risk management, the Board of Commissioners and Board of Directors have awareness of liquidity management risk and
is represented through the ALCO (Asset and Liability Committee) and RMC (Risk Monitoring Committee) with clear and independent
duties and responsibilities.
2. In terms of risk management, the bank has a contingency funding plan (CFP), monitoring and reporting of liquidity limits through ALCO
and RMC, managing positions and liquidity risk, as well as funding strategies and policies / procedures as well as monitoring liquidity
risk limits and reviewed regularly.
3. The Bank has and implements a liquidity risk management process, independent human resources and a liquidity management
information system.
4. The Bank has a sufficient risk control system through a risk management work unit and a compliance work unit that is independent
from the operational work unit and the line business.
238
Risk Management
CONSOLIDATED
31-Dec-21 30-Sep-21
The value of HQLA after a haircut The outstanding

or outstanding liabilities and The value of HQLA after a haircut or
The outstanding value of value of liabilities
commitments multiplied by outstanding liabilities and commitments
liabilities and commitments / and commitments /
the run-off rate or the value of multiplied by the run-off rate or the value of
contractual invoice value contractual invoice
contractual invoices times the contractual invoices times the inflow rate
value
inflow rate
65 days 63 days
46,364,100 49,078,395
48,248,668 47,856,628
28,127,278 23,451,309 27,810,992 21,988,385

TOTAL ADJUSTED VALUE1 TOTAL ADJUSTED VALUE1
46,364,100 49,078,395
24,797,359 25,868,244
186.97% 189.72%
Consolidated Analysis
The Bank’s consolidated liquidity also shows very good conditions. Liquidity risk management in both the main entity and its subsidiaries is
carried out through measurement, supervision and control of liquidity risk parameters, which generally indicate a low level of risk.
In accordance with POJK No. 42/POJK.03/2015, Banks are obliged to perform Individual and Consolidated quarterly reports for BUKU 4 Banks
for the position of the December 2020 report based on the daily average from October - December 2020. The average Consolidated LCR ratio of
Danamon for Quarter IV 2020 is 187.96%.This ratio is still above the minimum ratio value stipulated in POJK No.42/ POJK.03/2015 which is 100%
and revised through OJK Regulation number 48/POJK.03/2020 concerning National Economic Stimulus as a Countercyclical Policy as the impact
of the spread of Coronavirus Disease 2019, which is 85% valid until March 31, 2022.
The composition of the LCR for Quarter-IV 2020 is described in the section below.
The LCR consolidation calculation is a combination of the Bank’s LCR calculation as the main entity with the subsidiary’s LCR, in this case PT
Adira Dinamika Multi Finance Tbk (ADMF), a financial services institution engaged in financing or multi finance.
On a consolidated basis, the combined of LCR from subsidiaries has a marginal impact on HQLA by adding cash or cash equivalents, increasing/
reducing cash outflows through bond issuance and interbank borrowing, as well as increasing cash inflows through retail and interbank asset
claims.
Composition of High Quality Liquid Assets (HQLA) owned by the Bank on a consolidated basis in Quarter-IV was still dominated by Placements
with Bank Indonesia (BI) and Securities issued by the Central Government and BI. On average throughout the fourth quarter of 2020, the largest
composition of HQLA was Securities issued by the Central Government and BI at 80.50% of the total HQLA, followed by Placements with BI of
15.48%, Cash or Cash equivalents of 3, 82%, Corporate Bonds Level 2A at 0.15% and Corporate Bonds Level 2B at 0.05%.
Analysis of the Composition of Third Party Funds as an outflow component, the majority are in the Main Entity (Danamon) which remains
diversified in funding from wholesale and retail segments. Supervision of the concentration of funding is monitored on a daily basis.
Derivative transactions are centered on the Main Entity (Danamon). As stated in the Individual analysis, the ratio of derivative transactions
both in terms of receivables and liabilities to total assets and liabilities (including capital) has a minimal impact on the LCR calculation. The
background of the derivative portfolio activity is only limited to plain vanilla products for hedging needs, supporting customer transactions, or
liquidity needs through Balance Sheet Management.
The implementation of Consolidated liquidity management in accordance with what we have reported in the consolidated liquidity risk profile,
includes the following:
1. In terms of risk governance, t
2. he board of commissioners and board of directors of both the Main Entity and Subsidiaries have awareness of liquidity management risk
which is represented through the ALCO (Asset and Liability Committee) and RMC (Risk Monitoring Committee) with clear and independent
duties and responsibilities.
3. In terms of risk management, the Main Entity and / or Subsidiaries have contingency funding plans (CFP), monitoring and reporting of
liquidity limits through ALCO and RMC, managing positions and liquidity risks as well as funding strategies and policies / procedures and
limits. liquidity risk which is monitored and reviewed regularly.
4. The Main Entity and Subsidiaries have and implement a liquidity risk management process, independent human resources and a liquidity
management information system.
5. The Main Entity and Subsidiaries have adequate risk control systems through risk management work units and compliance work units that
are independent of operational work units and Line of Business.
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Risk Management
Several measurements used in Danamon are: to maintain its operations for up to 30 days during
the stress scenario, by which time it is assumed that
a. Liquidity Coverage Ratio (LCR) appropriate corrective actions have been taken by the
The purpose of this standard is to ensure that the Bank management and/or regulators.
retains a sufficient level of unencumbered and high-
quality assets that are convertible into cash to fulfil b. Net Stable Funding Ratio (NSFR)
liquidity requirements within 30 calendar days under a This ratio aims to assess the Bank’s resilience from a
severe liquidity stress scenario as defined by regulators. stable funding profile in accordance with balance sheet
At a minimum, liquid asset stocks will enable the Bank composition and off-balance sheet activity.
Table 24. NSFR Report - Bank Stand Alone

(in Million Rp)
September 2021
Outstanding Value Based on
ASF Component Remaining Period (in Million Rp)
≥ 6 months - 1
No Period < 6 months
year
1 Capital: 45,674,559 - -
2 Capital in Accordance to POJK KPMM 45,674,559 - -
3 Other Capital Instruments - - -
4 Deposits originating from individual customers and 37,826,450 26,944,248 941,061
Funding from micro and small business customers:
5 Stable Deposits and Funding 1,581,491 221,962 76,985
6 Less Stable Deposits and Funding 36,244,958 26,722,286 864,075
7 Funding originating from corporate customers: 30,474,901 21,243,951 1,322,603
8 Operational Deposits 13,877,257 - -
9 Other funding originating from corporate customers 16,597,644 21,243,951 1,322,603
10 Liabilities with interdependent asset pairs - - -
11 Liabilities and other equities 5,877,971 - 13,801
12 NSFR derivative liabilities -
13 Equities and other liabilities that are not included in 5,877,971 3,102,105 13,801
the above categories
14 Total ASF
September 2021
RSF Component Remaining Period (in Million Rp)
≥ 6 months - 1
year
15 Total HQLA in the framework of calculating the NSFR
16 Deposits with other financial institutions for 1,892,174 - -
operational purposes
17 Loans classified as Current and Special Mention - 59,089,930 17,752,807
(performing) and marketable securities
18 To financial institutions guaranteed by HQLA Level 1 - - -
19 To financial institutions that are not guaranteed - 6,424,892 2,818,169
with Level 1 HQLA and loans to financial institutions
without collateral
20 To non-financial companies, individual customers - 51,910,603 13,542,557
and customers of micro and small businesses, the
Government of Indonesia, governments of other
countries, Bank Indonesia, central banks of other
countries and public sector entities, including:
21 Meet the qualifications to get a risk weight of 35% or - - -
less, according to the SE OJK RWA for Credit Risk
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Risk Management
December 2021
Total Outstanding Value Based on Remaining Period (in Million Rp)

Total Weighted
Weighted
≥ 6 months - 1 Value
≥ 1 year Value No Period < 6 months ≥ 1 year ≥ 1 year
year
- 45,674,559 45,703,551 - - - 45,703,551
- 45,674,559 45,703,551 - - - 45,703,551
- - - - - - -
2,000 59,236,605 39,392,247 26,423,401 993,735 - 60,230,519
- 1,786,417 1,665,531 288,979 86,967 - 1,939,403

2,000 57,450,188 37,726,716 26,134,423 906,768 - 58,291,117
75,000 17,054,808 34,351,560 23,304,660 476,750 75,000 17,428,291
- 6,938,629 14,878,101 - - - 7,439,051
75,000 10,116,180 19,473,459 23,304,660 476,750 75,000 9,989,240
- - - - - - -
- 6,901 6,785,791 - 39,215 - 19,607
-
1,697,415 6,901 6,785,791 2,021,979 39,215 137,971 19,607
77,000 121,972,873 126,233,149 49,728,062 1,509,700 75,000 123,381,969
December 2021

Total Weighted
Weighted
≥ 6 months - 1 ≥ 1 year ≥ 1 Value
≥ 1 year Value No Period < 6 months
year year
1,601,655 1,566,305
- 946,087 2,102,460 - - - 1,051,230
29,892,892 60,575,079 - 59,823,621 18,955,824 31,333,215 61,614,572
- - - - - - -
4,309,628 6,682,447 - 6,433,028 2,383,299 4,350,359 6,506,963
17,856,055 47,391,073 - 52,156,788 14,923,214 19,869,382 48,774,822
- - - - - - -
241
Risk Management
September 2021
≥ 6 months - 1
year
22 Residential mortgage backed loans that are not being - - -
guaranteed, which include:
23 Meet the qualifications to get a risk weight of 35% or - 384,197 395,012
24 Securities that are not being pledged as collateral, - 370,238 997,069
are not default on payment, and are not included as
HQLA, including shares traded on an exchange
25 Assets with interdependent liabilities pairs - - -
26 Other Assets: - 14,778,871 93,641
27 Physical commodities that are traded, including gold -
28 Cash, securities and other assets recorded as initial - -
margin for derivative contracts and cash or other
assets submitted as default funds to the central
counterparty (CCP)
29 NSFR derivative assets - 60,406
30 NSFR derivative liabilities before deduction with - 19,433
variation margin
31 All other assets that are not included in the above - 14,778,871 13,801
categories
32 Off Balance Sheet 62,369,757 2,337,002
33 Total RSF
34 Net Stable Funding Ratio (%)
Table 24. NSFR Report - Consolidated

(in Million Rp)
September 2021
ASF Component Remaining Period (in Million Rp)
≥ 6 months - 1
year
1 Capital: 45,737,267 - -
2 Capital in Accordance to POJK CAR 45,737,267 - -
3 Other Capital Instruments - - -
4 Deposits originating from individual customers and 37,826,450 26,944,248 941,061
Funding from micro and small business customers:
5 Stable Deposits and Funding 1,581,491 221,962 76,985
6 Less Stable Deposits and Funding 36,244,958 26,722,286 864,075
7 Funding originating from corporate customers: 29,556,190 23,937,438 4,341,987
8 Operational Deposits 13,877,257 - -
9 Other funding originating from corporate customers 15,678,933 23,937,438 4,341,987
10 Liabilities with interdependent asset pairs - - -
11 Liabilities and other equities 5,809,002 - 652,573
12 NSFR derivative liabilities -
13 Equities and other liabilities that are not included in 5,809,002 4,229,224 652,573
the above categories
14 Total ASF
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Risk Management
December 2021

Total Weighted
Weighted
year year
- - - - - - -
5,699,123 4,094,034 - 390,957 400,998 5,776,118 4,150,454
2,028,085 2,407,526 - 842,847 1,248,314 1,337,356 2,182,333
- - - - - - -
8,092,973 21,471,551 - 15,456,703 123,863 5,716,402 21,138,411
- - -
- - - - - -
- 60,406 - 60,148 - 60,148

- 19,433 - 24,501 - 24,501
8,092,973 21,391,711 - 15,456,703 39,215 5,716,402 21,053,762
449,962 228,132 68,628,718 2,608,603 322,262 227,588

84,822,504 85,598,106
143.80% 144.14%
December 2021

Total Weighted
Weighted
≥ 6 months - 1 ≥ 1 year Value
year ≥ 1 year
- 45,737,267 45,767,409 - - - 45,767,409
- 45,737,267 45,767,409 - - - 45,767,409
- - - - - - -
2,000 59,236,605 39,392,247 26,423,401 993,735 - 60,230,519
- 1,786,417 1,665,531 288,979 86,967 - 1,939,403

2,000 57,450,188 37,726,716 26,134,423 906,768 - 58,291,117
5,370,739 23,860,239 33,536,943 26,092,895 3,780,413 4,160,050 23,165,172
- 6,938,629 14,878,101 - - - 7,439,051
5,370,739 16,921,610 18,658,842 26,092,895 3,780,413 4,160,050 15,726,121
- - - - - - -
- 2,226,237 6,504,213 - 579,574 - 2,033,007
-
3,597,366 2,226,237 6,504,213 3,493,185 579,574 1,881,191 2,033,007
5,372,739 131,060,348 125,200,813 52,516,296 5,353,722 4,160,050 131,196,107
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Risk Management
September 2021
≥ 6 months - 1
year
15 Total HQLA in the framework of calculating the NSFR
16 Deposits with other financial institutions for 2,626,165 - -
operational purposes
17 Loans classified as Current and Special Mention - 64,143,144 22,871,136
(performing) and marketable securities
18 To financial institutions guaranteed by HQLA Level 1 - - -
19 To financial institutions that are not guaranteed - 6,424,892 2,818,169
with Level 1 HQLA and loans to financial institutions
without collateral
20 To non-financial companies, individual customers - 56,963,817 18,660,886
and customers of micro and small businesses, the
Government of Indonesia, governments of other
countries, Bank Indonesia, central banks of other
countries and public sector entities, including:
21 Meet the qualifications to get a risk weight of 35% or - - -
22 Residential mortgage backed loans that are not being - - -
guaranteed, which include:
23 Meet the qualifications to get a risk weight of 35% or - 384,197 395,012
less, according to the SE OJK ATMR for Credit Risk
24 Securities that are not being pledged as collateral, - 370,238 997,069
are not default on payment, and are not included as
HQLA, including shares traded on an exchange
25 Assets with interdependent liabilities pairs - - -
26 Other Assets: 543,176 7,526,553 111,344
27 Physical commodities that are traded, including gold -
28 Cash, securities and other assets recorded as initial - -
margin for derivative contracts and cash or other
assets submitted as default funds to the central
counterparty (CCP)
29 NSFR derivative assets - 60,406
30 NSFR derivative liabilities before deduction with 15,365 30,054
variation margin
31 All other assets that are not included in the above 543,176 7,511,188 20,885
categories
32 Off Balance Sheet 62,369,757 2,337,002
33 Total RSF
34 Net Stable Funding Ratio (%)
c. Maximum Cumulative Outflow (MCO) maturity bucket or otherwise that sufficient cash can
MCO measures forecast the liquidity profiles of the be generated from a source of funding to satisfy the
Bank under defined scenarios with specified survival funding requirements on a daily basis.
horizons and calibrated assumptions.
Scenarios are crafted to set the underlying market
For assessing liquidity adequacy, liquidity profiles are and bank-specific conditions and severity on which
forecast at specified tenor buckets on a cumulative the cashflow profile are forecast in assessing liquidity
basis. To remain solvent, the Bank needs to ensure adequacy. The scenarios used for liquidity risk
that either a positive cash flow is maintained in each management are:
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Risk Management
December 2021

Total Weighted
Weighted
year year
1,601,655 1,566,305
- 1,313,082 2,979,223 - - - 1,489,612
39,953,162 74,212,081 - 65,010,417 23,622,150 41,483,130 75,168,561
- - - - - - -
4,309,628 6,682,447 - 6,433,028 2,383,299 4,350,359 6,506,963
27,988,808 61,089,684 - 57,343,585 19,589,540 30,097,197 62,395,026
- - - - - - -
- - - - - - -
5,699,123 4,094,034 - 390,957 400,998 5,776,118 4,150,454
1,955,603 2,345,916 - 842,847 1,248,314 1,259,456 2,116,118
- - - - - - -
9,185,421 15,872,561 511,050 7,849,086 79,189 6,528,166 14,808,934
- - -
- - - - - -
- 60,406 - 478 - 478

13,747 59,165 11,886 33,815 9,623 55,324
9,171,674 15,752,990 511,050 7,837,200 44,896 6,518,543 14,753,132
449,962 228,132 68,628,718 2,608,603 322,262 227,588

93,227,512 93,260,999
140.58% 140.68%
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Risk Management
• Baseline or Business as Usual (BAU), funding towards large funding providers (LFP). In
• General Market Stress Test or Systemic Problem, general, this monitoring aims to limit dependence on
• Bank-Specific Crisis or Name Problem. certain funding providers, which could cause problems
with Danamon’s liquidity position in the event of large
d. Large Fund Provider (LFP) withdrawals of funds.
As explained in the previous section, as part of funding
strategy, Danamon monitors the concentration of
Table 25. Encumbrance (ENC)

31 December 2021
(in Million Rp)
Assets held or agreed
Encumbered with the central bank but Unencumbered
Description Total
Assets not yet used to generate Assets
liquidity
Cash and Cash Equivalent - - 2,635,029 2,635,029
Part of the placement with Bank - 3,060,014 9,860,600 12,920,614
Indonesia that can be withdrawn during
stress
Securities issued by the Central - 5,868,674 28,168,543 34,037,217
Government and Bank Indonesia in
rupiah and foreign currencies
Securities in the form of debt securities - - 196,685 196,685
issued by non-financial corporations
that meet the criteria of Article 11
paragraph (1) letter b POJK No 42 /
POJK.03/2015 regarding LCR
Securities in the form of debt securities - - 41,148 41,148
issued by corporations that meet the
criteria of Article 12 paragraph (1) letter
b POJK No 42 /POJK.03/2015 regarding
LCR
At the end of December 2021, the Bank did not have assets classified as encumbered assets, but had assets that were
kept or agreed with the central bank but had not yet been used to generate liquidity, in the form of Rupiah and foreign
currency statutory reserves of IDR 3.06 Tn and the Macroprudential Liquidity Buffer (PLM) of IDR 5.87 Tn.
Overall, the Bank has assets that qualify as HQLA of IDR 49.83 Tn, which is dominated by Securities issued by the
Central Government and Bank Indonesia.
Contingency Funding Plan

An event of liquidity stress is an emergency situation with the potential to have a substantial impact on the Bank’s
liquidity position. To anticipate a liquidity crisis, Danamon maintains a Contingency Funding Plan (CFP), which formally
establishes strategies to face a liquidity crisis and procedures to compensate for cash-flow deficits during emergency
situations. A CFP should comprehensively describe contingency management strategies, escalation procedures, and
responsibilities for addressing liquidity stress.
Relevant to the CFP, there are indicators that represent external factors (market Indicators) and internal factors,
namely CFP Monitoring, with the following indicator details:
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Risk Management
Internal Indicators Market Indicators

• Rasio Intermediasi Makroprudensial • Rupiah exchange rate against the US dollar
• Liquidity Coverage Rasio • Inflation rate
• Stress Test Maximum Cummulative Outflow • Trade Balance
• Credit Rating
• Rate of return of Government Bonds
4. Operational Risk • Meanwhile, the Internal Auditor (SKAI)

The definition of operational risk was established in independently performs the role as third
OJK Regulation No. 18/POJK.03/2016. Operational risk is line of defense to identify any weaknesses
a loss arising from the inadequacy or failure of internal found in operational risk management and
processes, human error, system failure, or a problem assesses whether the implementation of
caused by an external event, which affect the Bank’s operational risk management has been in
operational activities. line with regulations.
• The Board of Directors and Board of
Danamon’s approach to operational risk management is Commissioners are responsible for
to define the best mitigation strategy to get an optimum overseeing the effectiveness of the overall
balance between operational risk exposure and the implementation of the operational risk
effectiveness of control mechanisms, and to create management framework.
a risk appetite as a Danamon strategy by consistent
implementation of an Operational Risk Management b. Operational Risk Management
(ORM) framework. The operational risk management framework of
Danamon and subsidiary is implemented in an
Major components of the Operational Risk Management integrated fashion, the process of which consists
Framework that are being consistently applied are: of identifying, assessing/measuring, monitoring, and
controlling risk.
a. Three Lines of Defense
In the implementation of the ORM framework, the The process involves:
Three Lines of Defense concept is applied, with the 1. Risk identification, which is used to identify
following descriptions: and analyse inherent risks in new products,
• Lines of business and supporting units as the services, and processes, as well as to
executors of the risk management process, ensure adequate preventive control over all
ORM at the Line of Business and Support processes.
Functions, and Internal Control functions
in each Risk-Taking Unit act as the first 2. Risk assessment at the operating unit
line of defense in the day-to-day execution level is supported by the Risk/Loss Event
of operational risk management. They Database (R/LED), Self-Raise, Risk Control
are responsible for identifying, managing, Self-Assessment (RCSA), and Key Risk
mitigating, and reporting on Operational Risk. Indicators (KRI) to assess Danamon’s
• The ORM division together with the risk profile quantitatively and to identify
Information Risk Management (IRM) Division, the effectiveness of operational risk
the Regulatory Compliance Division, and management.
the Legal Division serve as the second
line of defense responsible for overseeing The measurement of operational risk uses
operational risk management in Danamon. the Basic Indicator Approach based on OJK
• The ORM division is responsible for designing, Circular Letter No. 24/SEOJK.03/2016. Based
defining, developing, and maintaining on this circular letter, the capital cost of
an overall operational risk framework, operational risk was 15% of the average gross
monitoring the implementation of the income during the previous three years.
framework by the RTU, ensuring adequate
control over policies and procedures, and Danamon’s individual and consolidated
acting as coordinator/facilitator for effective quantitative operational risk disclosures are
operational risk management activities. illustrated in the following tables.
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Risk Management
OPERATIONAL RISK
Table 26. Quantitative Exposure of Operational Risks - Bank Stand Alone
(in Million Rp)
Average
No. Indicator Approach Gross Average Gross
Capital Capital
Income in RWA Income in the RWA
Charge Charge
the Last 3 Last 3 Years
Years
(1) (2) (3) (4) (5) (6) (7) (8)
1 Basic Indicator Approach 11,638,814 1,745,822 21,822,776 12,015,845 1,802,377 22,529,710
Table 32. Quantitative Exposure of Operational Risks-Consolidated

(in Million Rp)
Average
No. Indicator Approach Gross Average Gross
Capital Capital
Income in RWA Income in the RWA
Charge Charge
the Last 3 Last 3 Years
Years
(1) (2) (3) (4) (5) (6) (7) (8)
1 Basic Indicator Approach 18,230,245 2,734,537 34,181,709 18,407,408 2,761,111 34,513,889
3. Operational risk is monitored through mitigations for operational risks is the

periodic reports to management by the implementation of coordinated and
Risk Management Committee to identify comprehensive insurance through
emerging issues related to weaknesses or maximum insurance policy coverage of
failures in the implementation of control Danamon’s operational risk exposure.
functions. 4. Risk controlling is conducted by ensuring
operational policy and control adequacy
As part of Danamon’s efforts to improve in all operational procedures to mitigate
the monitoring of operational risk, the operational risk.
following are some of the efforts that have
been implemented and will continue to be Insurance Management is done as a major
improved upon: operational risk mitigation effort and is
• Expansion of the coverage of recording, conducted in a well-coordinated manner
analysis, and risk event reports in a to ensure an optimum balance between
more detailed manner to ascertain the operational risk exposures, effectiveness of
position of the Bank concerning existing control mechanisms, insurance coverage,
problems relevant to operational risks. premium expenses, and Danamon’s risk
• Development of an Operational Risk appetite.
Management System (ORMS) application
to improve the effectiveness of One controlling function is the
operational risk management. implementation of Quality Assurance/
• Effectiveness of ORM tools, such as Internal Control for each unit of Danamon,
the Risk/Loss Event Database, Self- which refers to the general practices
Raise, Risk Control Self-Assessment, in the industry (COSO), application of
and Key Risk Indicators used to identify quantitative measurements, Bank-wide
operational risk and take preventive control effectiveness, and cross-validation
measures. with a control mechanism conducted by
• In addition, one of the primary independent parties (SKAI/Internal Audit).
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Risk Management
The focus of QA for this year and coming Nevertheless, specific implementation of risk
years is to develop an integrated, effective, management related to information technology
measurable, and informative QA application refers to the frameworks under the Information
system, which will be implemented across Technology Risk Management Policy, which was
the QA Units in Danamon and subsidiary. developed in 2020.
c. Supporting Infrastructure e. Information Security Management

The implementation of the comprehensive ORM Information Security is a set of policies and a
process is supported by the ORMS (Operational framework or guideline aimed at protecting
Risk Management System), an internally designed the Bank’s information in relation to aspects of
real-time online tool. confidentiality, integrity, and availability.
The ORMS strengthens the capture, analysis, and The developed Information Security Policy and all
reporting of operational risk data by enabling frameworks provide the minimum requirements
risk identification, assessment/measurement, for the implementation of Information Security in
monitoring, and controlling/mitigating, which Danamon, which all employees (either permanent
is conducted in an integrated manner, thereby or contractual) must comply with, including third
enhancing the effectiveness of operational risk parties who work and gain access to Danamon’s
management in Danamon. information.
To increase awareness about operational risk, The Information Security Policy was developed by
training media has been produced in the form of adopting the international standards that regulate
e-learning. This e-learning has been, and still is, Information Security, i.e. ISO 27001. Additionally,
implemented for all employees and management it also takes local laws and regulations into
of Danamon. consideration.
d. Technology Risk Management The key successes of implementing the aspects

The risk brought by the extensive use of of Information Security as governed by the
Information Technology systems to support the Information Security Policy are the awareness,
business processes is identified as a subset of culture, commitment, and collective efforts of all
the operational risk under the Enterprise Risk functions in Danamon, starting from the employee
Management framework. level up to the senior management level.
As such, in managing the technology related risk, in To increase the awareness level of Information
general, the implementation refers to the bank-wide Security, as mentioned above, we have
agreed process related to the risk management performed the following:
cycle, which is governed by the Operational Risk • Development of educational material as part
Management Policy, including: of e-learning for all Danamon employees.
• Risk identification, which is used to identify • Delivering a sharing session to lines of
and analyse inherent risks in the use of business and/or support functions that need
information technology to support any new it.
products, services, and processes, as well as • Providing educational material and practical
to ensure adequate preventive controls over tips related to Information Security via all
all processes. available communication channels.
• Risk assessment at the information • Conducting a Cyber Security Risk Awareness
technology operating unit level, which is Session for senior management.
supported by the Risk/Loss Event Database
(R/LED), Risk Control Self-Assessment
(RCSA), and Key Risk Indicators (KRI), to
assess the Bank’s risk profile related to
information technology.
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Risk Management
As part of the Information Security Policy, the order to safeguard the stakeholders’ interests,
Information Security Unit will also support reputation, brand, and valuable business
the Technology Risk Management Unit in activities, as well as to increase Danamon’s
performing the risk assessment, from the resilience. Management and implementation
Information Security perspective, of the Bank’s of BCM in Danamon are not only focused on
products and services, which is supported handling disturbances like a natural disasters,
by Information Technology. The role of the but they also focus on and cover disorder that
Information Security Management Unit in this might threaten the strategic plans of Danamon’s
activity is to identify vulnerabilities and threats operations.
to the information used by the Bank to achieve
its business objectives, and to provide guidance
on the necessary measures to mitigate the risks The Business Continuity Management policy is
identified, if any, based on the value arising from managed by the Operational Risk Management,
the classification of such information. Fraud, and QA - Integrated Risk, and its
implementation is managed by the Sustainability
f. Change Risk Management Finance Division.
Change risk management employs the approach
to risk management aspect that provides Anticipation of COVID-19 Pandemic
assistance and support to transformation Danamon anticipated COVID-19 by activating BCP
project team members in order to manage the sites in several locations and separating employees
risks arising from change in the organization. into critical/ non-critical units to ensure business
This covers identification, assessment, continuity, and enhance employee awareness
measurement, mitigation, and monitoring through internal campaigns regarding COVID-19 and
of risks, starting from planning, preparation, prevention, rapid tests, etc.
development, and implementation all the way to
the post-implementation stage. These changes The above implementation is organized by Crisis
may include changes in processes, policies, Command Center (CCC) under the Director’s
technology, and organizational or regulatory direction.
requirements.
e. Fraud
The implementation of change risk management Danamon mitigates and manages risks arising
focuses on bank-wide strategic or transformation from fraud based on the framework of the
projects. anti-fraud strategy as set forth in the “Fraud
Management Policy and Framework”, which has
g. Business Continuity Management (BCM) been implemented nationally in Danamon and
BCM was developed to improve Danamon’s subsidiary. These policies and strategies are in
resilience and establish preventive measures line with POJK No. 39/POJK.03/2019 regarding
to respond to all incidents that may disrupt the implementation of anti-fraud strategies
the continuity of Danamon and subsidiary’s for commercial banks, which Danamon has
activities, regardless of the causes. This includes reported to the OJK every half year.
risks classified as low probability-high impact in
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Risk Management
Danamon has consistently implemented the four pillars of the fraud control strategies, which consist of
prevention, detection, investigation, reporting and sanctions, and monitoring, evaluation, and follow-up.
Investigation, Monitoring,
Prevention Detection
Reporting, & Evaluation &
Sanction Follow Up
Fraud can affect any part of an institution, and the Bank needs to
remain vigilant and put more emphasis on internal control and risk
management
Danamon has implemented this strategy with various a. Danamon Legal Risk Management Organization
initiatives by involving employees and systems, including Legal risk in Danamon is managed by a team
continuous improvement of the effectiveness of internal coordinated by the Legal Division and chaired by
controls, active supervision by management, and the the General Legal Counsel. In the implementation of
development of a culture of, and concern for, anti-fraud legal risk management, the legal risk management
across all levels of Danamon’s organization. team under the Legal Division cooperates with
the relevant working units, namely the Litigation
5. Legal Risk Division, Hello Danamon, Industrial Relation
Legal risk is risk due to lawsuits and/or weaknesses Division, Consumer Legal and Collection Division,
of juridical aspects. Legal risk arises, in among other and Remedial Division in each line of business (for
ways, because of an absence of supporting statutory matters related to the execution of Land Mortgages
regulations, or because of weaknesses in contract and bankruptcy).
execution caused by the failure to fulfil elements of
contracts and the imperfect execution of collateral b. Policies and Legal Risk Management
documents, as well as the existence of a litigation Procedures
process (lawsuit or police report) that results from Danamon already has a Legal Term Framework and
the activities of Danamon and subsidiary. In the Risk Standard Operation Procedure (SOP) of Legal Risk
Management Framework that refers to applicable Management Implementation, which are evaluated
regulations, legal risk is one of the important aspects periodically based on the Bank’s internal/external
that essentially aims to anticipate risks occurring in the development, as well as by changes in the applicable
future. laws, adapted to the regulations of the Financial
Services Authority (OJK) and its implementation
Along with the increasing scope of Danamon’s business regulations in accordance with risk management.
and dynamic product development, as influenced by
many factors, the level of legal risk needs to be properly c. Legal Risk Management and Control
managed. Basically, the main objective of legal risk Mechanism
management implementation is to ensure that the risk Legal Risk Management is conducted through a
management process can minimize the possibility of process of identification, assessment, monitoring,
negative impacts of juridical weakness, and the absence and risk control, as well as through a management
and/or amendments of laws and litigation processes in information system. In the identification process, all
the activities of Danamon and subsidiary. business lines, support functions, and Danamon’s
subsidiary are required to identify and analyse the
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Risk Management
factors that can lead to the occurrence of legal 6. Strategic Risk

risk in the business lines, products, processes, Weaknesses or inaccuracies in strategy formulation,
and information technology that has an impact as well as failure to anticipate changes in the business
on Danamon’s financial position and reputation. environment, could cause strategic risk. Strategic risk
Identification of risk also includes legal risk management is intended to address a variety of risks
assessments arising from operational activities/ caused by inadequate strategy establishment and
products/agreements, and inherent risks with the implementation.
purpose of:
• Protecting the interest of the Bank and/or its a. Strategic Risk Management Organization
subsidiaries, individually or consolidated, and The Strategic Risk Unit plays a role in managing
• Having legal rights that can be implemented strategic risk and is under the active supervision
according to prevailing regulations. of the Board of Commissioners and Board of
Directors. Danamon’s Strategic Risk working unit
In assessing the inherent risk of legal risk, the covers all lines of business and support functions
following parameters/indicators are used: that work closely with Corporate Planning and
• Litigation factor, the Investor Relations Division from the CFO
• Weaknesses in Binding Commitments factor, Directorate to analyse and monitor strategic risk.
• Absence/changes in laws factor.
b. Strategic Risk Management
In relation to the implementation of legal risk The implementation of strategic risk
management, Danamon has implemented the management is done through active supervision
following: of the Boards of Commissioners and Directors.
• Implementation of legal risk monitoring by The Board of Commissioners is responsible for
Danamon Senior Management (especially for directing and approving Danamon’s business
high-risk legal cases). plan for Danamon itself and for subsidiary, while
• Development of a Legal Term Framework and the Board of Directors is responsible for:
Standard Operation Procedure (SOP) for Legal • Developing a strategic business plan for
Risk Management Implementation, which Danamon and subsidiary.
regulates the identification and mapping of • Ensuring that the strategic objectives are
legal risks, including the mitigation and matrix in line with Danamon’s and subsidiary’s
parameters for the inherent risk and quality missions, visions, cultures, business
of legal risk management implementation. directions, and risk tolerances.
• The establishment of working units • Approving changes in the strategic plans and
designated by management to monitor and periodically assessing their suitability.
manage the inherent legal risk in a product • Ensuring that conditions, managerial
and in Danamon’s or subsidiary’s activities competence, and systems and control
so that the possibility of existing legal risk mechanisms in Danamon and subsidiary are
does not act as a trigger for other risks. adequate for supporting the implementation
of the set strategy.
The implementation of a comprehensive legal risk • Monitoring the development of internal and
management process with the monitoring of legal risk is external environments that affect Danamon’s
expected to be consistent, with the active participation and subsidiary’s business strategies.
of all concerned parties. Through joint efforts with the • Establishing working units that are
Legal Division and Litigation Division as the divisions in responsible for and authorized to formulate
charge, the existing risks are expected not to exceed and monitor the strategy implementation of
the risk appetite determined by the management of both business and strategic plans.
Danamon, and to decrease the risk rating of existing • Ensuring that strategic risk management has
legal cases. To ensure the improvement of legal risk been applied effectively and consistently.
management, Danamon regularly provides legal training/
socialization for employees.
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Risk Management
Danamon and subsidiary managed strategic risk c. Inherent Strategic Risk

by monitoring the inherent strategic risk and Danamon and subsidiary have managed inherent
the quality of strategic risk management. The strategic risk well. In principle, Danamon and
parameters used for assessing inherent strategic subsidiary have a clear and well-defined vision and
risk are as follows: mission with clear and measurable achievement
• The impact of external risk factors, including steps. Danamon aims to be the leading financial
macroeconomic conditions, regulations, institution in Indonesia, as well as a customer-
technology, target customers, competition, centric organization, serving all segments with
and Danamon and subsidiary’s positions in unique value propositions, as well as sales
the banking/financial services industry. and service excellence supported by the latest
• The impact of internal risk factors, including technology.
the alignment of business strategies,
business models, strategy focus, effective Danamon and subsidiary anticipate more
organizational structures, adequacy and intensified competitive and diverse business
quality of human resources, technology, and competition by providing maximum service to
operational efficiency. existing customers and potential new customers.
• Strategy implementation monitoring, Digital banking services continue to be developed
including the results of successful to provide transaction convenience and better
implementation of strategic risk, strategic services to increase customer satisfaction.
projects, and the impact of strategic
decisions. Global economic indicators show that economic
recovery continued in 2021, supported by a massive
Furthermore, several factors are considered to and ongoing vaccination program. The improvement
assess the quality of strategic risk management: in economic activity during the first half of this
• Risk Governance, including risk preference, year was hampered by the numerous cases of the
risk tolerance, and active supervision by delta variant in July 2021 and this put pressure on
the Board of Commissioners and Board of domestic economic activity. However, the situation
Directors. was managed well, resulting in a gradual decline in
• Risk management framework, including the daily cases. The Bank will continue to be selective
adequacy of organizational structure, policy, and prudent in providing loans. The Bank will
and procedure. maintain asset quality and expect a lower cost of
• Risk management process, human resources, credit in the coming year.
and management information systems,
including the process of identification, In accordance with the direction of the government
measurement, management information and regulators, Danamon and subsidiary have
system, and risk control, as well as the provided credit restructuring for customers who
number and quality of human resources to were directly affected by the COVID-19 pandemic.
support risk management. Danamon and its subsidiaries are also closely
• Risk control systems, including the adequacy monitoring all credit portfolios related to the
of internal control systems, and the COVID-19 pandemic, especially the COVID-19
adequacy of reviews by independent parties restructuring portfolios.
in Danamon and subsidiary.
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Risk Management
Despite improvements, economic factors will still families and the community and has vaccinated
impact the achievement of the Bank’s strategic more than 15,000 people from these groups. As
plan. Hence, Danamon and subsidiary continue to part of the 2022 work plan, Danamon will carry out
monitor several important indicators, such as the a third/booster vaccination in accordance with the
inflation rate, Bank Indonesia rate, and fluctuations directives and requirements of the Government.
in the Rupiah exchange rate. Danamon and
subsidiary are actively adjusting a number of In related to the COVID-19 pandemic, Danamon
their activities, such as lending, and improving and subsidiary will continue to monitor and
operational cost efficiency within the current control any anticipatory actions against outbreaks
business environment. to maintain the business continuity of Danamon
and subsidiary to operate smoothly and safely.
Competition in customer service resulted in
competition among companies to acquire qualified d. Strategic Risk Management Implementation
Human Capital. Danamon and subsidiary Quality
prioritize the capacity and quality of human The implementation of risk management
resources. Danamon and subsidiary always strive has been accomplished with a satisfactory
to improve employee and leadership capabilities rating. Nevertheless, Danamon and subsidiary
through various training and development continue to improve upon it. The formulation of an
programs designed to improve professional skills acceptable level of risk (risk appetite) is sufficient
in their fields as well as managerial and leadership in the form of limits, policies, and procedures for
abilities. By participating in these training sessions risky processes. Risk managers in each division
and developments, employees are expected to and subsidiary are in place to support the
adapt to new challenges and contribute optimally implementation of the business strategies that
to carry out Danamon’s strategy and achieve the have been formulated.
organization’s expectations.
Danamon and subsidiary continue to monitor
Additionally, Danamon and subsidiary continue to various relevant strategic risk elements and
improve the performance-appraisal mechanism to regularly update the mitigation action plan in
boost employee performances and to provide response to the dynamic business environment.
appropriate rewards for good performance.
Danamon and subsidiary also optimize the use 7. Compliance Risk
of an HR management information system through Compliance risk is the risk that arises as a result of
continuous improvements and developments. Danamon not complying with and/or not implementing
This provides a reference for management to set the provisions of laws and regulations, including the
employee management strategies and policies. Sharia Principles for sharia commercial banks and
sharia business units.
Danamon and subsidiary also monitor the
development of conditions and the availability Compliance risk in general can result from, among
of medical treatment (including vaccines and other things, (i) legal behaviour, namely the behaviour
medicines) to reduce the risk of COVID-19 infection or activities of Danamon that deviate from or violate
among employees and their families. Danamon the provisions and/or laws and regulations, and (ii)
and subsidiary support government programs organizational behaviour, namely the behaviour or
and participate in mutual cooperation vaccinations activities of Danamon that deviate from or conflict with
(“Vaksinasi Gotong Royong”) that have been generally accepted standards.
carried out among employees. In 2021, Danamon
administered vaccinations to more than 97% of Implementation of Risk Management for Compliance
its employees, including both permanent and Risk is carried out to ensure that the Risk Management
non-permanent employees. Employees who have process can minimize the possible negative impacts of
not received vaccinations are those with special Bank behaviour that deviates from or violates generally
conditions such as comorbidity or having recently accepted standards, provisions, and/or laws and
recovered from COVID-19. In addition, Danamon regulations as early as possible.
also carries out vaccinations on employees’
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Risk Management
Implementation of Risk Management for Compliance commercial banks and sharia business units. It
Risk is adjusted to the size and complexity of the Bank’s also ensures the Danamon’s compliance with
business. commitments made by the Bank to the Financial
Services Authority and/or other authorized
In implementing risk management, Danamon not supervisory authorities.
only monitors it’s compliance risk individually but
also it’s compliance risk in a consolidated manner In carrying out his or her duties and responsibilities,
with subsidiary. With the appointment of Danamon as the Compliance Director is supported by the
the main entity of the MUFG financial conglomerate, Compliance Working Unit. The Compliance Working
Danamon also monitors compliance risk in an integrated Unit consists of the Regulatory Compliance and
manner within MUFG Financial Conglomeration. Advisory Division and the Regulatory Compliance
and Assurance Division, which are independent
a. Compliance Risk Management Organization units and are responsible to the Compliance
The compliance risk management organization Director. The Bank’s Compliance Unit also performs
involves active supervision by the Board of Directors the functions of the Integrated Compliance Working
and the Board of Commissioners on compliance Unit in the financial conglomeration.
risk. To support the supervisory function, the
Bank established the necessary committees, b. Policies and Strategies of Compliance Risk
including a Risk Oversight Committee at the Board Management
of Commissioners level and a Risk Management Compliance Risk Management is generally
Committee at the Board of Directors level. implemented in accordance with the Bank’s
Integrated Risk Management Policy and the Bank’s
The Board of Commissioners, through the Risk Compliance Terms of Reference. Compliance risk
Oversight Committee, oversees the policies and management is performed on matters that may
implementation of risk management, including potentially lead to an increase in compliance risk
the implementation of compliance functions for exposure, both potential financial sanctions and
compliance risk management. The Board of Directors non-financial sanctions.
plays an active role in nurturing and realizing the
implementation of a compliance culture at all levels The compliance risk management strategy is
of the organization and in all business activities implemented through the 3 (three) lines of defense
of Danamon. The Board of Directors ensures the scheme.
implementation of a compliance function and
establishes the Compliance Working Unit. The Compliance Working Unit acts as the second
line of defense.
Danamon appoints a Director in charge of the
Compliance Function (Compliance Director) who c. Compliance Risk Management Implementation
has met the independence requirements and Procedures
does not hold concurrent positions prohibited Compliance risk management is conducted through
by regulation. The Compliance Director plays an a process of risk identification, measurement,
important role in compliance risk management by monitoring, and control. The process of identifying
being responsible for implementing the compliance and measuring compliance risk is done through the
function at Danamon. assessment of Bank’s policies, products, activities,
funds provisioning and raising, and other business
The compliance function is a series of preventive activities.
actions or measures (ex-ante) to ensure that the
policies, provisions, systems, and procedures, as This process is carried out to detect potential non-
well as the business activities undertaken by the compliance with applicable laws and regulations,
Bank, are in accordance with the provisions of prudential principles, and sound business ethics
the Financial Services Authority and the statutory standards. Compliance risk monitoring and control
provisions, including sharia principles for sharia are conducted based on a compliance review of
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Risk Management
the Bank’s policies and activities, as well as on appropriate procedures, utilization of improved
the fulfilment of the Bank’s commitments to the information systems, and continuous improvement
Financial Services Authority/Bank Indonesia/other of the quality of human resources.
authorized supervisory authorities, including the
fulfilment of prudential principles of the Bank and c. Risk Management During Crisis
subsidiary. Danamon already has policies and procedures for
handling risk reputation management in a crisis.
8. Reputation Risk
Reputation risk is defined as the risk associated with 9. Investment Risk
an adverse negative perception of a bank, triggered by a Investment Risk (Equity Investment Risk) arises because
variety of undesirable events, such as negative publicity, the Bank also bears the loss of customer business
a violation of business ethics, customer complaints, financed under a profit-loss sharing basis agreement
governance weakness, and other events that may (for example mudharabah, musyarakah, musyarakah
impair the Bank’s reputation. mutanaqishah, or MMQ). This risk arises from the
Bank’s financing activities that use mudharabah and
a. Reputation Risk Management Organization musyarakah contracts.
Danamon’s reputation risk is managed by
the Corporate Secretary Working Unit, which
coordinates with units that handle customer Financing based on a mudharabah contract takes the
complaints, finance units, treasury units, and units form of business cooperation between the Bank, which
that handle corporate communications. provides all the capital, and the customer, who acts as
fund manager, by sharing in the profits of the business,
Consolidated reputation risk is managed through based on the contract agreement, while the loss will be
collaboration with the risk teams from the fully borne by the Bank unless the customer is proven
subsidiary. to have committed wilful misconduct, is negligent, or
has violated the agreement.
b. Policy and Mechanism of Reputation Risk
Management Financing based on a musyarakah contract takes
The policy and mechanism of reputation risk the form of cooperation between the Bank and its
management refer to regulations that focus on the customers for a certain business, in which each party
following: invests a certain portion of funds, under the provision
• Negative news related to the owner of that the profits will be shared based on an agreement,
Danamon and/or companies related to while any loss will be borne by all parties, according to
Danamon. the respective funding proportions.
• Violation of common practices of business
ethics/norms. Musyarakah mutanaqisah or MMQ is musyarakah
• The amount and level of customer usage or syirkah, where the ownership of assets (goods)
of Danamon’s complex products and the or capital of one syarik (bank) is reduced because of
amount and materiality of Danamon’s gradual purchases by other parties (customers).
cooperation with its business partners.
• Frequency, types of media, and materiality of Organization and Policy of Investment Risk
negative publicity of Danamon, including its Management
management. Investment risk organization and policy is the same as
• Frequency and materiality of customer Credit Risk Organization, given that both of the risks
complaints. arise from financing activities.
Danamon strives to implement high standards of Danamon’s Syariah Business Unit (UUS) has a working
reputation risk management through continuous unit responsible for analysing reports containing actual
improvement and updates of governance, policies, the realization with the business targets. Danamon
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Risk Management
maintains adequate infrastructure to monitor the 10. Rate of Return Risk

business performance and operations of those financed Rate of Return Risk arises from changes in the level of
by the Bank, or who are regarded as partners. return rates paid by the Bank to a customer, due to
changes in returns received by the Bank and/or from
Investment Risk Mitigation the financing, which can affect the behaviour of funding
The periodic monitoring of risks taken in accordance a third-party customer of the Bank. Rate of Return Risk
with risk appetite and business performance remains Management also applies to the Syariah Business Unit
within the desired limits. (UUS). The process of Return of Risk Management refers
to the provisions of the OJK.
To prevent any breach on the part of customers and
as collateral for Danamon if customers should make Rate of Return Risk Mitigation
intentional mistakes, be negligent, or violate agreements, Monitor the returns of the Bank every month compared
Danamon requests collateral from customers who are with the returns of other banks and maintain the
financed. Collateral type and collateral assessment composition of the source of funding from third-party
follow the prevailing collateral policies that applied in funds with low yields.
financing business in general.
IMPLEMENTATION OF INTEGRATED RISK MANAGEMENT

The MUFG Group financial conglomerate consists of Danamon as the main entity with subsidiaries and sister
companies as members. The following describes the structure of the MUFG Group:
Structure Entity’s Name Relationship to Danamon
Main Entity PT Bank Danamon Indonesia Tbk (“Danamon”)

Entity Member PT Adira Dinamika Multi Finance Tbk (“ADMF”) Subsidiary (Vertical relationship)
Entity Member MUFG Bank, Ltd. Cabang Jakarta (“MUFG Jakarta”) Sister Company (Horizontal relationship)
Entity Member PT U Finance Indonesia (“UFI”) 1
Sister Company (Horizontal relationship)
Entity Member PT Adira Quantum Multifinance (“AQM”) 2
Subsidiary (Vertical relationship)
1 In Q3 2021, there was a change by which MUFG was no longer listed as a shareholder of UFI. The change in UFI’s shareholders was approved by the Regulator
in Q4 2021. The Main Entity submitted a letter of change of the MUFG Group financial conglomerate to the Regulator in December 2021 and is currently waiting
for the Regulator to record the change.
2 In process of liquidation settlement.
Danamon has the Integrated Risk Management Policy improvement, or enhancement of the Integrated
of the MUFG Group financial conglomeration, which is Risk Management Policy based on the evaluation of
the main policy in the implementation of integrated risk implementation, evaluation of the effectiveness of the
management as regulated by OJK regulation. In 2021, a implementation of integrated risk management policies,
review of this policy was done. frameworks and guidelines, and assessment of key risks
in the entities and across entities within the financial
Integrated Risk Management Committee conglomeration, including the formulation of strategies
For the financial conglomeration, Danamon, as the Main to deal with existing and emerging risk issues.
Entity, has established an Integrated Risk Management
Committee. The Integrated Risk Management Committee Integrated Risk Management Working Unit
of the MUFG Group consists of Danamon’s Integrated In the implementation of integrated risk management,
Risk Director as the chairman, Danamon’s Compliance adjustments have been done to the Integrated Risk
Director, Danamon’s Credit Director, and Directors Directorate by adding an integrated risk management
who represent subsidiaries and sister companies and function to ensure that the integrated risk identification,
related Executive Officers as nominated members. measurement, monitoring, and control processes can
The main role of this committee is to evaluate and be done and reported in accordance with the risk
provide recommendations to Danamon’s Board of management framework and the regulatory regulations.
Directors as the Main Entity related to the development,
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Risk Management
Danamon, its subsidiaries, and sister companies Danamon has implemented assessment of the
incorporated in the financial conglomeration are risk profiles of intra-group transactions for the
committed to controlling the intra-group transactions financial conglomeration that is integrated with its
that may cause risk to the financial conglomeration. subsidiaries and sister companies. The reporting of
Risk control is performed on the monitoring results intra-group transaction risk management is prepared
of intra-group transactions between the entities in comprehensively and periodically for the management
the financial conglomeration. Intra-group transactions and regulators to monitor, assess, and evaluate the
between entities in the financial conglomeration are risks continuously.
monitored using the Management Information System
that is available in each entity within the financial
conglomeration.
BASEL III IMPLEMENTATION

In regards to capital, BI and the OJK have issued several regulations related to the Minimum Capital Adequacy
Requirement to support the implementation of Basel III in Indonesia.
The following are the phases of Basel III implementation, in conjunction with the capital management:
2013 2014 2015 2016 2017 2018 2019 2020 2021
Issuance of
CAR regulation • CAR is based on Risk Profile Rating
based on • Tier 1 Capital Ratio is minimum at 6%
Basel III • Common Equity Tier 1 Capital Ratio is minimum at 4.5%
0.625% 1.25% 1.875% 2.5% 2.5% 2.5%

Capital Conservation Buffer
Countercyclical Buffer (0% - 2.5%)
Capital Surcharge D-SIB (1% - 3.5%)
There are 3 (three) additional capital buffers that must be provided by Danamon since 2016, as follows:
• Capital Conservation Buffer, is additional capital that serves as a buffer in the event of a loss during crisis
conditions, which is implemented in stages as follows:
i. 1 January 2016: 0.625% of RWA
ii. 1 January 2017: 1.25% of RWA
iii. 1 January 2018: 1.875% of RWA
iv. 1 January 2019: 2.5% of RWA
Based on the above regulations, Danamon must establish a capital buffer in the form of a Capital Conservation Buffer
of 2.5% of RWA.
According to OJK Regulation No. 48/POJK.03/2020 regarding changes to POJK No. 11/POJK.03/2020 concerning National
Economic Stimulation as a Countercyclical Policy on the Impact of the Spread of Coronavirus Disease 2019, the Bank is
allowed to not fulfil the Capital Conservation Buffer of 2.5% of RWA until March 2022.
• The Countercyclical Buffer is additional capital that serves as a buffer to anticipate losses in the event of excessive
banking credit growth that could potentially disrupt financial system stability.
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Risk Management
The range of the countercyclical buffer is between 0% implementation period, reporting, publication, and
and 2.5% of RWA. Currently, the countercyclical buffer others refer to the above POJK.
for Danamon is still set at 0%.
As part of the Basel III implementation framework,
• The Capital Surcharge Buffer for Systemic Banks Danamon has implemented the management of
is additional capital that serves to reduce negative interest rate risk in the banking book as regulated by
impacts on financial and economic system stability in the OJK in its Circular Letter No. 12/SEOJK.03/2018
the event of a bank failure that has a systemic impact pertaining to the Implementation of Risk Management
through increasing a bank’s ability to absorb losses. and Measurement based on Standardized Approach for
Interest Rate Risk in the Banking Book.
Capital Surcharge only applies to those banks
categorized as Systemic Banks, providing an additional RISK APPETITE
buffer of 1% to 3.5% of RWA, depending on the OJK’s Risk Appetite is the amount of risk that a corporation is
decision. prepared to take/tolerate in the pursuit of its business
objectives. The objective of setting a Risk Appetite is not
Based on an OJK letter to Danamon dated 7 October to limit risk-taking but to establish transparency and
2020, Danamon was designated as a Systemic Bank ensure that the risk profile is aligned with its business
classified in group (bucket) 1; therefore, Danamon is strategy.
required to establish a Capital Surcharge of 1% of RWA.
Danamon has set its Group and Management
In terms of bank liquidity management, the Risk Appetite with approval from the Boards of
implementation of a Liquidity Coverage Ratio is based Commissioners and Directors, including cascading
on Financial Services Authority (POJK) Regulation No. the Risk Appetite into the Lines of Business and the
42/POJK.03/2015 on Liquidity Coverage Ratio-LCR for subsidiary level. Danamon has also reviewed the
Commercial Banks issued in December 2015 and POJK parameters and threshold of its Risk Appetite to ensure
No. 32/POJK.03/2016 on Transparency and Publication its alignment with internal and external conditions,
of Bank Reports issued in August 2016, where the management expectations, and prevailing regulatory
implementation is in compliance with the Basel III provisions.
liquidity framework.
The determination of the various parameters of Risk
In addition to LCR, Basel also introduced an additional Appetite is based on various risks that are deemed
ratio, the Net Stable Funding Ratio (NSFR), as a material for Danamon, which cover capital, credit risk,
complement to liquidity risk management, as well as liquidity risk, credit concentration risk, operational
a leverage ratio as a complement to capital ratios. The risk, and fraud. In addition, Danamon also set various
introduction of a leverage ratio is the backstop of the risk limits for each type of risk and certain functional
capital ratio, according to the risk profile, to prevent the activities that have risk exposure, which shall conform
occurrence of a deleveraging process that can damage to the established Risk Appetite.
the financial system and economy.
To ensure the effectiveness of Risk Appetite management,
The implementation of the Net Stable Funding Ratio Danamon also has a Risk Appetite Statements Policy
(NSFR) is based on Financial Services Authority (POJK) that outlines the duties and responsibilities of each
Regulation No. 50/POJK.03/2017 on Obligation of Net party in managing Risk Appetite, and also governs the
Stable Funding Ratio (NSFR) for Commercial Banks process of defining, reviewing, and monitoring, including
issued in July 2017. Implementation of the POJK was the escalation of breaches of Risk Appetite.
effective as of January 2018, with a minimum ratio of
100%. The aspects of the NSFR related to calculation,
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Risk Management
RECOVERY PLAN 2. Recovery Option

Danamon implements a traffic light system for
Following the recent financial crisis, regulations have implementing its Recovery Plan, supplemented with
been put in place globally requiring systemic financial clearly established thresholds as triggers under the
institutions to develop recovery and resolution plans. In three phases of the recovery plan, namely green
April 2017, the Financial Service Authority (OJK) issued a as “Preventive”, yellow as “Recovery”, and red as
regulatory requirement, No. 14/POJK/2017 for Systemic “Corrective”.
Banks in Indonesia to develop, review, and implement
a Recovery Plan. The Recovery Plan was established to In 2021, Danamon made revisions to several triggers
ensure that Systemic Banks have established credible of its Recovery Plan in line with changes in regulations
and feasible recovery options to survive a range of and/or current conditions.
severe but plausible stress scenarios.
Danamon has also identified various recovery options
As one of the Systemic Banks in Indonesia, Danamon under each phase and assessed these options in terms
reviewed the Recovery Plan in 2021 that complies with of feasibility, credibility, implementation timeframe, and
the applicable regulations. An update of the Recovery effectiveness. These recovery options cover key financial
Plan has been approved by the President Director and indicators of Danamon, namely capital, liquidity, asset
President Commissioner and has been submitted to the quality, and profitability, and will form the basis of its
OJK. Recovery Plan and the strategy for Danamon under
stressed conditions.
The Bank’s Recovery Plan covers the following:
3. Disclosure of Recovery Plan
1. Overview of the Bank Due to the highly confidential nature of certain sections
Danamon has assessed the contribution of each line of the recovery plan (e.g., detailed recovery options
of business and subsidiary from both quantitative and strategies), the disclosure of the Recovery Plan
(i.e. contribution to profit, funding, and loan book) of the Bank shall be done on a need-to-know basis
and qualitative perspectives in order to identify the only, when different degrees of disclosure will apply to
materiality of the lines of business and subsidiary, different parties. Danamon discloses its Recovery Plan
including the office networks of Danamon. The result of to both internal and external parties as per applicable
this assessment will be used by Danamon as a reference regulations.
for determining which lines of business, subsidiary, and
office networks need to be maintained when financial In addition, Danamon has developed a Recovery Plan
stress conditions occur. Policy that regulates the governance of its Recovery Plan
by which the Crisis Management Protocol Working Group
Danamon has also conducted a wide range of scenario (CMPWG) becomes a special committee that will be
analyses in order to assess the resilience and potential activated by the BOD to supervise the implementation
vulnerabilities of Danamon to several indicators that are of the recovery plan and other matters related to the
specified by the OJK (i.e. capital, liquidity, asset quality, implementation of the recovery plan, especially under
and profitability). The outcomes of the scenario analyses the “Recovery” and “Corrective” phases. In carrying
indicate that Danamon has a resilient capital position, out its duties, the CMPWG will be supported by the
which is unlikely to threaten any going concerns of Recovery Planning Team (RPT).
Danamon.
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Risk Management
The Recovery Plan Policy also regulates processes However, the economic recovery will depend on how
as well as the duties and responsibilities of each COVID-19 evolves. If the emergence of new variants
party in the process of developing, monitoring, and threatens the health situation, authorities will tighten
implementing the Recovery Plan. Danamon monitors the mobility restrictions that eventually affect economic
Recovery Plan indicators on a monthly basis and will recovery. Thus, uncertainty remains high.
report them to the Board of Directors through the Risk
Management Committee if there are indicators that The following are some challenges that will possibly
have violated or may potentially violate the “Recovery” exist in 2022:
or “Corrective” phases. • New COVID-19 mutations may keep emerging and
provide uncertainties over mobility restriction
SUSTAINABLE FINANCE measures. Therefore, the development of new
COVID-19 variants will remain the main source of
Danamon recognises that the realisation of the risk.
sustainable development of the national economic • An upward trend of global inflation could drive
system that prioritizes harmony between all economic, domestic input costs higher. Domestic inflation is
social, and environmental aspects, and to address expected to increase significantly should domestic
global environmental issues, are the responsibility of all recovery be sustained, in order to maintain business
human beings. Therefore, Danamon aims to contribute margins. We expect inflation to accelerate towards
to realizing it, among other ways by reducing negative Bank Indonesia’s upper bound target of 4%. In
environmental and social impacts that can be raised response to this, BI will begin monetary policy
from our business and operational activities, actively tightening by absorbing liquidity through monetary
working to find solutions to global environmental issues operations and the reserve requirement ratio first,
through its business activities, and complying with the followed by a policy rate hike.
prevailing laws and regulations. • Loans at risk could rise should the pandemic persist.
Sluggish demand recovery caused by the pandemic
In line with Financial Service Authority Regulation could negatively affect aggregate income. Therefore,
(POJK) No. 51/POJK.03/2017 about Implementation of purchasing power and debt service coverage will
Sustainable Finance for Financial Service Institutions, weaken. Meanwhile, the OJK will end the credit
Issuers, and Public Companies issued in 2017, Danamon restructuring program in March 2022.
implemented Sustainable Finance starting on 1 January • The commodity price mix poses risks to economic
2019. performance next year. In 2021, the movement of
commodity prices helped economic performance
Detailed information can be seen in the Sustainability as exported commodity prices increased higher
Report. than imported commodities. If the new variant
causes imported commodity prices to rise more
RISK MANAGEMENT ACTIVITY PLAN IN 2022 than exported commodities, it will widen the current
account deficit and eventually affect the rupiah’s
In 2022, Indonesia’s economy is projected to grow higher resilience.
at the range of 4.5 to 5.5%. The engines of growth will • Exchange rates would tend to depreciate from 2021’s
gradually shift from 2021’s external demand to domestic year-end position. The depreciation trend is in line
demand. Economic recovery will be followed by less- with the emergence of a new variant of COVID-19,
accommodative fiscal and monetary policies to prevent which could hinder foreign inflows to emerging
overheated inflation. markets. On top of that, should the tapering off of
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Risk Management
the U.S. Federal Reserve’s asset purchase program of COVID-19 restructuring portfolios and build
continue, it could be one of the factors that will sufficient provisions accordingly.
pressurize the rupiah. e. Monitor the Credit Risk Internal Rating Model and
scorecard system for all lines of business on a
Anticipating these external conditions, Danamon has regular basis.
conducted and will perform a range of initiatives in f. Use the Standardized Approach for Credit Risk
terms of risk management in 2022, including: Weighted Asset calculations.
g. Perform rating model scorecard evaluation
1. Risk Management in General periodically.
a. Improve risk monitoring and control in the h. Perform quarterly back-testing for LLP adequacy
implementation of individual, consolidated, and for all lines of business.
integrated risk management. i. Periodically monitor and gradually review the
b. Conduct a comprehensive review of the PSAK 71/IFRS 9 calculations.
individual, consolidated, and integrated risk j. Monitor the Internal Ratings for the Corporate,
monitoring and measurement process. Commercial, FI, and Finco rating systems.
c. Keep Danamon’s business growth at an k. Develop Early Warning Indicator model for SME
acceptable level while remaining prudent. segment.
d. Develop and start to roll out various programs l. Prepare credit scoring alternatives to support
to build awareness of the importance of the Risk digital-related credit/business, including
Culture in Danamon. machine learning.
e. Implement the activities related to Sustainable
Finance as written in the Sustainable Finance 3. Operational Risk and Fraud Management
Action Plan that has been submitted to the OJK. a. The implementation of ORM cycles has been
f. Implement the ICAAP framework. and will continue to be consistent, including the
g. Conduct bank-wide stress testing at least once identification, measurement, monitoring, and
a year, or more frequently if there are changes in control of operational risks to Danamon and
the industrial and economic sectors and when subsidiary.
requested by the regulator. b. The application of an anti-fraud strategy is
h. Conduct COVID-19 stress tests to measure the continuously improved and adapted to the
resiliency of the Bank’s capital. latest developments and fraud trends, including
i. Perform regular monitoring and reviews of the application of systems and technology
the Risk Appetite Statement threshold and as supports for detection pillars and pillars of
Danamon’s Recovery Plan triggers. reporting and sanctions, covering credit and
non-credit cases.
2. Credit Risk Management c. Develop a new fraud system for detecting fraud
a. Review the credit policies periodically. transactions (Predator System) and enlarge
b. Monitor the credit portfolios of all business detection system implementation in account-
lines and subsidiaries regularly, comparing opening fraud (Instinct System).
the actual performances against targets, and d. Improve the fraud risk assessment method as
inform management if there is any indication of part of the fraud risk control improvements.
worsening portfolio performances. e. Risk identification conducted through the
c. Update the policy regarding COVID-19 stimulus implementation of risk identification and risk
as per prevailing regulations. assessment of existing products, processes, and
d. Perform close monitoring of the performance systems, as well as new systems, to determine
the inherent risks and the mitigation actions
required.
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Risk Management
f. Capture risk/loss event data and its contributing n. Conduct sharing sessions through webinars,
factors, carried out in a centralized database, the Risk Academy, and online training for all
conduct RCSA activities periodically, report Bank employees to increase the awareness of
related risks, and monitor operational risks Information Security and the risks related to the
through the Key Risk Indicator (KRI). use of technology in general.
g. Development of the Operational Risk o. Continue the initiative related to information
Management System (ORMS) application for the security risk assessment for vendors/third
effectiveness of ORM cycle implementation in all parties, which process the Bank’s sensitive
units of Danamon and subsidiary. data that belongs under the confidential/strictly
h. Asset and financial insurance (i.e. BBB [Bankers confidential classification.
Blanket Bonds], money insurance, property
risks, earthquakes, and Electronic Equipment 4. Market Risk and Liquidity Management.
Insurance), as one of the most important a. Continue to exercise ICAAP-related Stress
forms of operational risk mitigation, has been Testing, as well as BUST, to ensure that Danamon
coordinated by the insurance coordinator within has the capacity to survive in the event of a
the ORM Fraud and QA Division. liquidity-stress condition.
i. ORM workshops and dissemination to the RTUs b. Prepare for the implementation of revisions to
and training (Risk School and E-Learning) for new the Minimum Capital Adequacy Requirement for
employees are continuously implemented to Market Risk in compliance with OJK regulations.
ensure continuity and operational risk awareness c. Participate in the development of necessary
level uniformity and risk culture recognition in infrastructure to support new Treasury products
Danamon. and activities, and the implementation of a new
In addition, the Change Risk Division supports Treasury System.
learning activities by providing training and d. Develop the infrastructure of the ALM System to
socialization related to the proper governance support dynamic Balance Sheet simulations.
of project management, as well as associated e. Maintain continuous enhancement and regular
risks (end-to-end risk assessments) related to reviews and validation of market and liquidity
Change Risk and the transformation project. risk measurement methodologies.
j. The development of systems and processes to
perform cyber-risk assessment by modelling the
application so that the Bank can anticipate and
close any potential vulnerability at an early stage
of the application development cycle.
k. Develop and implement procedures and
guidelines to respond the cyber security
incidents.
l. Update the Business Continuity Management
(BCM) policy according to the latest conditions.
m. Rectify the escalation and self-raise issue
campaign to ensure Danamon employees
proactively identify risks and conduct necessary
corrective actions prior to any operational risk
incident.
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Human Capital
HUMAN CAPITAL
MANAGEMENT
In accordance with the Human Capital Management Road Map, in 2021 a series of initiatives have been implemented in
order to improve employee capabilities. This is done to support the acceleration of the formation of employee capabilities to
suit future work or business models. In order to support the improvement of employee capabilities so that they are in line with
future skills, several focuses have been carried out, including encouraging a learning culture by expanding knowledge and
skills, as well as preparing a digital learning platform for all training materials, both mandatory and non-mandatory, internal
and external (training providers for certification and others) also build digital libraries to encourage a higher learning climate
for employees and the principle that learning can be done anywhere and anytime without being limited by a certain place
and time. Danamon also continues to intensively encourage employee capability improvement with Up Skilling and Re
Skilling to suit future needs.
In order to be in line with Danamon’s aspirations and also in accordance with the aspirations of Human Capital Management,
namely better employee experience, the Human Capital Management Team continues to promote the company to external
with the new Employe Value Proposition (EVP) in order to attract talent from outside and also increase employees’ pride,
which can be seen from employee engagement with a score of 92.
On the other hand, as the impact of COVID-19 pandemic, Danamon continues to maintain its main priority, namely health
and safety and employee productivity. Various efforts were made, such as tracing, tracking and also intensive treatment
of employees, to ensure that the employees and their families are in good condition. Besides to increase the immunity of
employees, Danamon continues to encourage employees and their families, as well as other non-employees within Danamon
to get vaccinations, which currently has reached +/- 98.0%.
The year 2021 was still marked by the continuation of treated with caution. This activity was carried out in
the COVID-19 pandemic, however on the other hand, collaboration with various relevant agencies, using two
office activities have begun to increase even though available vaccination routes, namely the Government
there are still some restrictions, which require proper Vaccine Program (Vaksin Program Pemerintah/VPP), and
arrangements to manage working models as well the Mutual Cooperation Vaccine (Vaksin Gotong Royong/
as the employees so that their safety and health are VGR).
maintained. Danamon continued its efforts, focusing on
employee health and safety, operational continuity, and The vaccinations are not only for employees. Danamon
business continuity. This focus was realized in the form also vaccinates families and other individuals in the
of the 3T activities (Tracing, Tracking, and Treatment), employees’ environment. Furthermore, Danamon also
the adoption of the new 5M behaviour, and encourage organizes vaccinations for special communities, such as
the improvement of community immunity through market communities and sociaties in the neighborhood.
vaccinations.
Overall, in 2021 Danamon carried out vaccinations for
Danamon successfully carried out the vaccination of more than 20,000 people in all of its operational areas.
more than 98% of its employees. The remaining 2% of
employees who have not been vaccinated are those who In 2021, Danamon also measured the level of employee
have certain comorbid diseases that must be medically satisfaction with the Employee Engagement Survey
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Human Capital
(EES) and received an engagement score of 92%. This create a high-performing organization.
score is considered one of the highest in the Indonesian 3. Own Your Future. Danamon is positioned to provide
banking industry. Further investigation found that one various opportunities for self-development and
of the factors supporting this score was the continuous career development for employees and the flexibility
effort taken to manage the pandemic in ways that were for employees to aspire to and take opportunities
very helpful for employees and their families. for self-development in accordance with their
aspirations and potential.
Human Capital Management Vision and Mission 4. Wellness and Wellbeing. Danamon adopts a
One of the Danamon’s missions is to become the balanced approach between improving performance
employer of choice, and to support that mission, and personal wellbeing of employees.
Danamon Human Capital Management has aspirations:
better employee experience, developing future Another perspective taken by Danamon is to continue
capabilities & dynamic organization to increase employee development efforts in line with the formulated
productivity and evolving high performance culture, by future capabilities/skills. Danamon believes that in order to
undertaking various efforts to provide a better employee win against the business competition arising from the
experience. To that end, it formulated the values offered changing times that are driven by rapid technological
to its employees, the Employee Value Proposition (EVP), developments, it is very important for Danamon to develop
which consists of four pillars: the capabilities and skills of employees.
1. Global Exposure. By being part of MUFG as one of Furthermore, Danamon has prepared initiatives aimed
the largest banking business groups in the world, at building a high-performance organization. This will be
Danamon provides opportunities for its employees done through various efforts to improve business
to gain experience working in other countries within processes, and to build a better performance
the MUFG business group. management system.
2. Rise to Excellence. Danamon encourages employees
to continuously strive to improve performance.
Thus, as an organization, Danamon will be able to
Danamon’s complete HR management strategy plan is as follows:

2022-2023
Better Employee Experience Developing future capabilities & Developing future capabilities &
dynamic organization to increase dynamic organization to increase
productivity productivity
• Employer Branding. This effort • Capacity Building. Build skills • Performance Management
is aimed at building Danamon’s relevant to future business System. Improve the
position through various activities challenges, which are dominated implementation of better
in the media as one of the by technology development, performance management and
organizations in which to work, where competitiveness is apply the principles of Objective
which is the main choice for determined by the ability to adopt Key Result (OKR).
talent. technology for business purposes.
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Human Capital
2022-2023
• • • Agile way of working. Building an
• Digital platform. Changes in the • Talent Management. Building adaptive organization is carried
HR management information a talent pool, ensuring the out through the application of
system platform were made readiness of talent to take on a cross-cutting work teams for
to provide a better experience wider role, and optimizing the various main projects/initiatives
and make business processes assignment of talents abroad in carried out by Danamon. In
easier for employees. Including the MUFG business group. addition, in connection with the
improving the online learning • Competitive Compensation. This anticipation of work restrictions
system that makes it easier for is done by building self-managing related to the pandemic,
employees to be able to learn benefits for employees. Danamon has developed
independently. procedures and system readiness
that allows employees who make
critical transactions to be able to
carry out their work from home.
The change in working patterns is
implemented by still monitoring
the employees’ work productivity.
HC Management Policy A study of the Company’s Code of Ethics was undertaken

Human Capital consistently strives for alignment in 2021. The study results recommend strengthening
between Human Capital Policies and business the Company’s Code of Ethics with behaviours that
developments, as well as other internal policies and support the implementation of the Code of Ethics on
prevailing laws and regulations. and off of the Company’s premises, namely seeking
and maintaining the levels of productivity and work
The latest update of the Human Capital Policy and creativity in line with the performance standards set by
Operational Guideline was published in 2nd Quarter the Company.
2021.
The New HR Management Policy
The reforms include alignment to the Job Creation The Merit-Based Reward System (SIPASTI) is still the main
Law, POJK/SEOJK (APOLO), Bribery and Anti-Corruption theme in employee performance management policies,
Policy, APU-PPT Policy, Collective Labour Agreement with an additional emphasis on the perspective that
(PKB) as well as adjustments to new workflows that run the main goal of performance management is to create
in the Company. a high-performance culture, where a periodic review
process is undertaken for the purpose of supporting
In addition to improving policies and operational target achievement, not merely for evaluation. Focus
guidelines, the Human Capital Team also updated the would be on performance management that consistently
procedures for supporting working processes and for monitors and improves employee performance. The
the implementation of control functions. implication would be that financial rewards come
from the continuation of good performance and as a
In Q1 2021, the Company published the latest version consequence of it, not as the main objective.
of the Code of Ethics and disseminated it to all
Management and Employees using an online learning Danamon will focus more attention on developing or
methodology. The Employees’ Statement of the Code of grooming people from within and on implementing
Ethics has also been received by the Company in line more job rotation among experienced employees to
with the implementation of online learning. The learning fulfil internal manpower needs. This focus is backed by
rate of the Code of Ethics is 99%. a policy that allows employees with good performance
records, who have held certain positions for at least
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Human Capital
three years, to be transferred to other working units Facebook, both organically and in unorganized ways to
commensurate to their expertise. This job rotation is increase awareness among external parties of EVP and
the right of all employees, as well as a form of career the uniqueness of Danamon as a company in the eyes
development, whereby employees fulfilling requirements of external job seekers.
may apply for rotation by notifying their supervisors, but
without necessarily seeking approval. Recruitment & Selection
As of December 2021, Danamon has recruited 1.317
HC Management Performance employees. The recruitment is divided into, in Senior
Management level 39 people, in Middle Management
Employer Branding level 279 people, in First Line Management level 580
In 2021, Danamon succeeded in compiling the Company’s people and 419 people in Clerical level. In the same
Employee Value Proposition (EVP), namely GROW, which period there was a turnover of 1.470 employees.
means growth and is an acronym for Global Exposure, Danamon also recruited 103 Danamon Bankers Trainees
Rise to Excellence, Own Your Future, and Wellness & (DBT) for 4 batches and 3 batches of Danamon Bankers
Wellbeing. These are the value propositions offered Officer (DBO) trainees in 2021.
by the company to employees and to candidates for
external employ who are the company’s targets. In the process of searching for prospective employees,
Danamon encourages the use of social media and
The EVP was created with the involvement of company career website services, and utilizes artificial intelligence
stakeholders, including management, all employees, for employee recruitment into first-line, middle, and
and prospective external employees, through strategic senior management levels through LinkedIn. The efforts
interview methods, focused group discussions, e-surveys are accompanied by other sourcing strategies such as
to all employees, and internal workshops, before it was referrals, campus hiring, virtual career fair, and more.
approved by the Management.
Danamon has also established career partnerships,
sponsorships, and webinars with various leading
This solid EVP is a long-term commitment made by the universities in Indonesia, such as the University of
company to which all Human Resources policies and Indonesia, Bandung Institute of Technology, Gajah Mada
programs developed at this time and in the future will University, and Bina Nusantara University, as well as
refer. overseas universities such as in Singapore, Australia,
and Japan, to conduct employer branding and recruit
The EVP was launched in August 2021 at a virtual graduates to be educated in four batches of Danamon
bank-wide kick-off ceremony. It was disseminated to Bankers Trainees (DBT) in 2021. In addition, the Bank also
all Regional Branch Offices throughout Indonesia in recruited three batches of trainees from the Danamon
September 2021. In order to increase awareness and Banking Officer (DBO) program in all regions of Indonesia
dissemination internally, the Bank also conducts internal to be placed in positions, such as Customer Relationship
activation programs, including various EVP Jingle Officers (CRO) and Business Relationship Officers (BRO)
competitions, and uses various internal communication in all network/branch networks, as well as Relationship
media such as EAZY Chat, email, websites, Microsites, Manager positions in the Small Medium Enterprise (SME)
Song Players in office buildings, virtual backgrounds, business segment.
screen savers, giving gimmicks, employee testimonials,
and others. Meanwhile, for external activation Through collaboration with these universities, the Bank
programs and to encourage the emergence of internal also provides opportunities for final semester students to
ambassadors/champions, the Bank also uses social do internships that can help prepare them to enter the
media such as Instagram, LinkedIn, YouTube, Twitter, and world of work.
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Human Capital
Danamon also continues to develop a digital-based

To maintain the quality of recruitment results, the Bank recruitment process in stages in accordance with
continues to conduct Know Your Employee (KYE). The the development and needs of the organization and
Bank has appointed an independent service provider to accommodate the characteristics of millennial
to carry out reference checking or checking the Bank’s candidates who will dominate the job seeker market
track record, education and other personal data for and improve customer/candidate’s experiences (CX).
Senior Management level recruitment. The Bank also
improves policies and procedures related to high-
risk candidates in the recruitment process in order to
improve the implementation of Know Your Employee.
Job level 2021 2020 2019 2018 2017

Top Management - 10 2 3 3
Senior Manager 39 38 17 184 38
Manager 279 171 84 1.213 247
Officer 580 415 503 194 1.385
Staff 419 221 1.819 4.503 5.705
Total 1.317 855 2.425 6.097 7.378
Operating Functions 2021 2020 2019 2018 2017

Sales 285 280 852 1.716 3.389
Non sales 1.032 575 1.573 4.381 3.989
Total 1.317 855 2.425 6097 7.378
Training and Competence/Education Development Danamon facilitates employees to access lessons or

Since 2020, Danamon has maximized technology and gain new knowledge to enhance the learning culture by
digitized all training modules, storing in the Learning providing an e-Library. Currently there are hundreds of
Management System (LMS) +/- 230 materials or book titles that can be accessed anytime and anywhere.
modules. In 2021, Danamon continued to innovate in
implementing training and development programs for In keeping up with technological developments,
its employees, implementing 778 training programs for Danamon has also developed virtual reality learning as
107,780 participants, related to both technical skills and a learning method. This learning technology replaces
soft skills/leadership competencies for a total of 56,929 the bank simulator that was previously used to simulate
man-days. banking activities.
All learning programs have used digital learning methods.
This method is used to reach employees more broadly, To manage banking risk management, Danamon has
effectively and efficiently because it can be accessed enrolled 1,223 workers in training, refreshment and Risk
quickly and easily through independent devices by Management Certification (SMR) exams.
accessing Eazy Learning, Eazy Chat or external platforms,
such as Microsoft Teams and Webex. As part of talent development, especially in technical
skills, in 2021 Danamon organized training programs
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Human Capital
that focused on the areas of Leadership and Business Program (DBOP) for the Branch Network and the SME
Management Skills, Upskilling and Re-skilling, Emerging Division, which has graduated a total of 136 employees.
Digital, Digital Leadership, Leading Transformation Danamon organizes a Sales Leadership Academy
Change, Business Project Assignment, and Business program with a total of 119 employees, especially for
Simulation. It is hoped that with the increase in employee Branch Managers, until the end of 2021.
competence, they will have the opportunity to carry out
more challenging roles and tasks. To improve the credit skills of the Sales team, Upskilling
Credit Skills for Business Relationship Officers have been
The Human Capital Directorate conducted the Danamon implemented which were attended by 323 employees,
Bankers Trainee (DBT) program, which is a development as well as the Commercial Loans to Business program
program for the best and most talented S1/S2 graduates to for Branch Managers.
prepare the future leaders of Danamon. Until the end of 2021,
13 batches had been running with a total of 310 talents. Danamon invested Rp 85,626 billion in 2021 into training
and development programs in the form of digital learning
In order to accelerate the capability of frontliners tailored to the need to increase employee competence.
and Sales teams at the branches, Danamon runs the
Danamon Bankers Network-Relationship Officer (DBN- Based on evaluation results in 2021, Danamon managed
RO) program for the Branch Network Division with 51 to achieve a training ratio of 3.69%, with 8,701 employees
participants. Then in the middle of the year, this program participating in training out of a total of 8,790 employees
was developed into the Danamon Bankers Officer (99%).
Danamon Training Program Statistics
Training Programs 2021 2020 2019 2018 2017
Total Training Programs 778 508 982 1,232 1,411
Number of Training Participants 107,780 95,102 90,203 128,399 164,554
Total Man-days 56,929 34,133 49,641 80,049 139,637
Total Training Investment (IDR million) 85,626 83,900 147,617 182,701 235,517
Average Investment per Employee (IDR million) 0,79 0,88 1,63 1,42 1,43
Employee Engagement knowledge about financial management, especially

In 2021, Danamon again conducted a Sustainable during the pandemic. This session is also held to
Engagement Survey for all employees. In this survey, communicate to employees about Danamon’s
Danamon managed to maintain an engagement score products and services and their benefits.
of 92%. This score was the same as in the previous year.
• Online Learning Festival: Dawn of The New Era.
Some of the engagement programs carried out this year This program is run every year with the aim
were: of generating enthusiasm as well as providing
• Dejitaru, which is a sharing session that involves knowledge regarding the latest learning trends,
leaders at Danamon and external speakers who aimed at all employees.
discuss various topics about digital technology that
are useful in banking activities. • Internal Facilitator Day
As an award given to all internal facilitators who
• Employee Financial Wellness Festival, a program have contributed to improving the knowledge and
conducted using a seminar method involving abilities of employees.
Danamon and Adira Finance. This program provides
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Human Capital
• BISA Awards These changes to the system have made employees

In internalizing Danamon’s core values, an more objective-focused in their work attitudes and
internal competition program is held that involves behaviour. Should any employee struggle to achieve
all employees to appreciate those who have work targets, the system can immediately detect this,
demonstrated work behaviour in accordance with and their respective supervisor can take immediate
the core values and have had an impact, both action to coach and assist the employee in achieving
financial and non-financial, on Danamon. the targets together.
Organizational Development Development of Talent Management and Employee

Over the last five years, Danamon has been conducting Careers
bank-wide transformation initiatives across all lines Talent management is important for Human Capital. Our
to shorten and expedite the business processes. This comprehensive and sustainable talent management
can be seen in changes in the organizational structure, program aims to ensure the availability and readiness
including the layer structure, span of control, the process of future leaders especially those that hold key
of position rotation/mutation, the merger/separation of positions within the Bank. The program begins with
functions, and the simplification of processes through the identification and mapping of talent using two
automation. criteria: performance and potential. An assessment and
Evaluating and restructuring of Danamon’s organizational talent review identify and manages high-performing
framework are essential for maintaining internal equity employees within the Company to advance according to
and market competitiveness. Since 2019, Human Capital their individual expertise. The program aims to increase
of Danamon has completed the job simplification employee engagement through their own initiative, both
project and aligned it with competencies. Alignment is bank wide and within their respective divisions. The
carried out by continuing to implement competencies program also implements succession planning, ensuring
(leadership and technical) equipped with proficiency Company sustainability by preparing high-performing
levels for each competency, based on job family and candidates to become future leaders.
business needs in terms of new skills in each function
to support the implementation of business strategy. The Management Trainee Program and Development
Program were established to cultivate talent within
Performance Management Danamon. These programs aim to shape the future
Since September 2017, Danamon introduced a new leaders by strengthening their comprehensive banking
online performance management system under the knowledge and systematically job-rotating them in
EAZY platform. This greatly assisted employees and their order to accelerate their careers and skills.
supervisors to set objectives and achieve transparency.
A ‘cascade’ feature allows supervisors to pass down To accomplish this strategy, Human Capital of Danamon
work targets to their subordinates. is devising a career advancement system to improve
employees’ competency through training in soft skills,
Moreover, the availability of a continuous performance technical skills, and leadership. Employee competency
management module, accessible through personal improvement is carried out carefully and aligns with the
communication devices, enables supervisors to more organization’s business objectives and strategies. In this
easily monitor and record work achievements. This new case, Danamon seeks to re-skill and up-skill employees’
system has made the process of achieving objectives capabilities so that they have the skills needed to
more focused and planned, so that execution and support the company’s strategy in the future.
achievement are immediately and easily communicated
between subordinate and supervisor.
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Human Capital
In developing internal bench strength, in 2021 Danamon, Employee Welfare

in collaboration with MUFG Japan, held various In the area of employee welfare, in addition to providing
discussions and webinars on various topics, related government health insurance (BPJS) and Pension Plan
to both technical and business training. Through this (JHT) benefits, Danamon provided a health insurance
program, employees can learn from MUFG’s and Partner facility by reforming the previous benefits, transforming
Banks’ business strategies to improve their business and them into family limit benefits in order to give flexibility
their achievements for implementation by Danamon. to employees to manage their benefits according to
the needs of them and their families, pension funds,
Employee Remuneration and housing loans (KPR) for employees. The housing
Danamon formulates its remuneration strategy loan policy has been reviewed, and management has
based on the remuneration policy, which follows the approved an increase in the lending limit. Danamon also
meritocracy principle, whereby the Company rewards its provides a motor vehicle allowance, which is called the
employees in correspondence with their competence Car Ownership Cash Program (COCP), in which eligible
and performance. This strategy is part of the SIPASTI employees receive a cash allowance paid along with
principle that has been consistently implemented since their monthly salaries.
2015 through either short-term or long-term incentives,
which are in financial and non-financial forms. In 2019, Danamon launched a voluntary individual
pension program in cooperation with the Pension
Employee remuneration consists of a fixed component, Fund Institution (DPLK) in order to assist employees
which is based on job value, job family, and position to better plan for retirement. In addition, the Bank
scarcity in the market, as well as on market benchmarks provided additional special compensation rewards to
and variable components in the form of performance retiring employees by giving special benefits. The special
bonuses and incentives. Performance bonuses are benefit will be received by retiring employee along with
awarded based on the Company’s achievements a pension compensation payment in accordance with
against targets, industry benchmarks, operating unit prevailing regulations.
achievements, and individual achievements. Incentives
are given to the positions that directly generate revenue, Furthermore, Danamon collaborated with Adira Finance
such as salespersons and collectors, and are designed and Adira Insurance to launch a financing and insurance
to increase motivation and establish an effective sales program known as the Danamon Adira Employee
or collection behaviour. Through a fair and balanced Program (DAEP), which was specially designed to give
compensation system, Danamon expects to build a additional benefits to Danamon and Adira employees.
productive working environment, as well as to motivate Through this program, employees may apply for motor
employees to continuously deliver and contribute their vehicle loans, home appliance loans, and various types
best. of insurance with lower interest rates or premiums than
commercial ones.
In 2020, the Company conducted a review of employee
remuneration by considering changes in organizational During the pandemic in 2020, Danamon provided special
design that were derived from the job simplification treatment to employees hence all employees could stay
project. healthy and safe by monitoring individual employees
every day and providing medication and treatment to
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Human Capital
employees and their families, in terms of their condition, In 2021, the Company undertook several main initiatives
medication, and health supplements (masks), as well as that needed to be supported by appropriate and
vitamins to ensure employees and their families were adaptive risk management activities, both in the pre-
always in a healthy and safe condition. implementation period and after the implementation
period.
Pension Program
Danamon’s pension plan is in accordance with prevailing In addition, risk management activities also focus
government regulations. Danamon provides retiring on risk mitigation and process improvement related
employees with a counselling workshop to enable them to the implementation of the Job Creation Law and
to be better prepared for their retirement. Topics include Government regulations applicable to POJK/SEOJK. The
retirement activities, as well as mental and financial activities also ensure that the main operational activities
preparation. in the Human Capital area remain within the established
corridors.
Human Capital Management Information
With the passion to provide a better employee experience Some of the main initiatives in 2021 that began to be
and obtain a better business process, Danamon has implemented for Human Capital were the High-Risk
conducted a review of the Human Capital Management Candidate Procedures in the context of implementing
information system. From this study, it was decided that antibribery and anticorruption initiatives, SOX
it was necessary to make changes to the information Compliance, and Know Your Employee (KYE) – SLIK
system management platform. For this reason, in Checking for employees active in fraud prevention. Very
November 2021 Danamon completed the process of active and proactive risk management is highly needed,
selecting service providers for the platform system, and especially in providing implementation instructions for
in December 2021 a project kick-off was carried out to work functions so that they are effective and continue
replace the Human Capital Management system. It is to run within the corridor of applicable regulations,
expected that the new platform will be in partial use by including but not limited to evaluating and reviewing the
April 2022, and be fully implemented in June 2022. implementation of those main initiatives.
The new system platform uses a cloud approach, similar In addition to supporting the implementation of the
to the previous platform. The main advantages offered new initiatives above, risk management also mitigates
are features and menus that are easier for employees and recommends improvements to processes that are
to use, with applications based on mobile applications currently available and running so they become more
efficient and aware of risks, and so they comply with the
Risk Management provisions of the Company, Regulators, and applicable
Working patterns that have changed because of the laws and regulations. These include strengthening the
pandemic, the development of the company’s business, database of management and personnel administration,
and faster-moving competition are believed to cause improvement of learning management, improvement of
wider demands on risk management, changing it from the management of High-Risk Candidates, improvement
the current role that focuses more on a risk perspective of insurance benefit claims management, improvement
to a role that also includes a process improvement of payroll administration, and strengthening of the Risk
perspective to produce processes that are more efficient Management Certification database.
and use technology as effectively as possible.
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Human Capital
During 2021, active and proactive monitoring was carried Danamon Rumah Kita is a program aimed at fostering
out on all plans for improving audit findings (internal/ harmonious industrial relations between management
external) that were scheduled until all of them received and workers, and between workers and workers.
follow-up and were completed on time by all relevant Although this activity was delayed in 2020 because
work functions. of the pandemic, it was finally able to be carried out
virtually in 2021.
Industrial Relations
The Industrial Relations Policy is something that is However, similar activities were also carried out in
needed by Danamon in order to ensure business several regions that initiated Virtual Outing activities
continuity, create a conducive work climate, instil pride to maintain and increase togetherness. For social
in employees, and present a positive reputation to activities, the Danamon Peduli Employee program (KDP)
external parties. conducts programs to help 1,515 employees, including
the implementation of scholarship assistance programs
The creation of harmonious industrial relations is clearly for employees’ children and assistance for employees
a means for ensuring the improvement of working who experience calamity or grief.
conditions, productivity, competitiveness, and quality
of work. In addition, the condition of industrial relations The KDP has also distributed logistical assistance to
is also an indicator of Good Corporate Governance for employees and their families who were victims of several
Danamon. natural disasters in various locations, such as the floods
in Greater Jakarta, Kalimantan, Semarang, Manado, and
On various occasions, Danamon’s management has Nganjuk. In addition, support was given to the victims of
consistently tried to build constructive communications the Surabaya Tropical Cyclone, and the Mount Rawung
and consolidation regarding the expectations put forward eruption, as well as other fire and hurricane disasters.
by the Labour Union. As part of the effort to establish
open communications, Danamon’s management held 31 The total value of the assistance distributed through
meetings with two trade union organizations, both at the KDP as of 30 December 2021 is Rp3.9 billion.
central and regional levels. Currently, there are two Labour
Unions at Danamon that were established and officially Danamon also facilitates employee interests and
registered at the employment agency. Danamon hopes talent activities through D’Club. This takes the form
that the establishment of constructive communications of routine sports activities (both weekly and monthly)
with the two Labour Union organizations can further such as yoga, bowling, basketball, futsal, badminton,
improve the harmony of industrial relations in Danamon. and other sports in 72 locations throughout Indonesia,
and include activities organized by the OJK. During the
The implementation of the agreements stated in the COVID-19 pandemic, many of D’Club’s activities were
Collective Labour Agreement (CLA), which have been put online. One of them is a webinar series that is a
agreed to since 2018, has been carried out. The CLA place for Danamon leaders and employees to share
was valid until July 31, 2020. Because of the COVID-19 knowledge, experience, and information. Through the
pandemic, Management and the Labour Union agreed webinars, employees also get information related to
to extend the validity period of the CLA to 31 July 2021, health. Competitive activities to support Human Capital
which was later extended until 31 July 2022. programs were also initiated by D’Club. A total of 7,952
workers were registered to participate in these D’Club
activities.
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Human Capital
2022 Human Capital Strategies and Work Plans

With the principle of building a sustainable work plan,
Human Capital Danamon will carry out the following
work focused on the initiatives that were implemented
in 2021:
1. As a follow-up effort to manage the pandemic, apart
from handling cases of transmission, Danamon will
also prepare vaccinations for children aged 6–11
years and a third vaccination for other age groups.
2. Setting up a new Human Capital Management
information system platform. With this new
platform, hopefully it will be easier for employees to
access various personnel services online.
3. Continuing the implementation of talent
management. Assuming that the COVID-19 pandemic
ends in 2022, Danamon will reactivate the plan for
assigning employees to business entities in other
countries within the MUFG business group. This
would also realize the Employee Value Proposition,
which mentions Global Exposure as one of the
added values that can be provided by Danamon to
its employees.
4. Continuing efforts to develop employee capabilities
and skills in relation to the four pillars of future skills
that have been defined.
274
INFORMATION Information Technology
TECHNOLOGY
Danamon’s acceleration of banking
services digitalization during the
pandemic was performed by
providing various digital banking
solutions and supporting infrastructure
that were used to service customers
as well as internal staff. In addition,
automation of various internal
process such as loans processing
from initiation to disbursement
& technology processes for
development, deployment and daily
operations were automated using a
combination of specific tools, BPM
(Business Process Management) and
RPA (Robotic Process Automation).
INFORMATION TECHNOLOGY INITIATIVES AND The digital services launched in 2021 include D-Bank
PERFORMANCE PRO which provides retail customers a digital solution
and consistent experience both on website and mobile
Customer Experience, Digital Services and application; and Danamon Cash Connect, which
Solutions operates via websites and mobile applications to meet
Throughout 2021 customers have adapted to a new corporate customers’ needs to manage cash and
normal because of COVID-19. Danamon’s customers liquidity.
are relying significantly more on online channels to
satisfy their banking needs. The Danamon IT team is Using a mobile CRM system, front-line employees can
prepared to provide and maintain technology-based open customer accounts or offer other banking services
solutions, and also to implement improvements of the from home or from the office over their tablets. To
digital banking infrastructure that can meet the needs satisfy the needs of new customers, Danamon now
of customers and give them positive experiences. has a Video Banking system that will help implement
Several actions have been undertaken to achieve this: the online eKYC process. To speed up decision-making
providing high availability to the internet and increasing over loans and disbursements to customers, Danamon
bandwidth for all channels and digital applications, has automated the whole lending process from the
supporting the new way of working (Work From Home) initial step to the disbursement of the funds, the new
and relocating back office operational teams, and finally process being a combination of BPM (business process
providing working flexibility to all applicable employees management) and RPA (robotic process automation)
by supplying additional laptops or desktop computers that provides better user experiences for employees,
upon request. and faster and simpler processes that can increase
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Information Technology
productivity. Going beyond traditional business

intelligence (BI), Danamon has implemented
analytical methods and tools that are supported
by Big Data technology to undertake deeper
analysis, create predictions, and provide more
accurate recommendations to Bank customers.
In the future, we will keep on striving to improve

the experience of Bank customers. In 2022, we
would like to expand the range of the Bank’s
digital offerings, including to travel and vehicle
insurance, wealth management products, and
foreign currency transactions. Also, we would
like to give customers a big-picture view of all
their loans, deposits, and credit card accounts.
Moreover, we’d like to improve and simplify the
online transaction process by using chatbots, QRIS
payments adoption, and seamless onboarding for
customers with fintech applications through APIs.
In anticipation of the growth of the fintech

sector, Danamon will continue developing the
application programming interface (API) gateway
by implementing new solutions or speeding up
the integration to third-party billers, payment
gateways, and fintech, which Danamon has done
with well-known fintech firms in Indonesia. To To provide more comprehensive supply-chain financing and
align with the Blueprint Sistem Pembayaran cash management services to our corporate customers,
Bank Indonesia (BSPI), Danamon will ensure Danamon will continue to develop internet and mobile banking
adherence to the BI API Standards. Moreover, to systems and provide services, such as seamless cross-
facilitate a faster payment process in Indonesia, border remittances, bulk bill payments, flexible management
Danamon has been a pilot bank for BI-FAST, of transactions by customers, and improved transaction
having successfully launched BI-FAST on D-Bank monitoring and reporting, based on customer needs. Danamon is
PRO, which adopts ISO20022 messaging, ensuring planning to grow the Treasury business by adopting automation
faster, cheaper, and safer payments supported by and introducing several products to address customer needs
the proxy payment concept via email or phone and provide best-in-class products and services to become a
numbers. one-stop shop for most Treasury needs. Danamon will enhance
its systems to support different pricing models and methods
with control measures implemented by Integrated Risk and
operational units.
276
Infrastructure and Capability Improvements

The COVID-19 pandemic has prompted a massive change in how we work, and in response to that the
IT team has been showing agility, resourcefulness, and resilience. Danamon IT implemented cloud-
based unified communications that have been effectively and widely used during the pandemic when
most Danamon employees have had to work from home. The unified communications facilitate online
meetings, video conferencing, webinars, voice calls, employee townhall meetings, and more, all of which
is done online. Most technology-related work, such as the implementation and support of many systems,
have been fully moved online. At the office, we have provided greater wireless access, implemented face
recognition systems to monitor employee body temperatures, and applied the D-Care application using
online surveys and call trees on a daily basis to ensure all employees are safe. With increasing reliance
by both Bank customers and employees on digital transactions, we are seeing the need to provide
stable and reliable services through better quality control, and by speeding up monitoring, problem
solving, and recovery. To prepare for the described challenges, it’s important for Bank employees to
be equipped with the right tools and the proper training that includes instruction about agile working
methods, collaboration between working units, and the shift from traditional paperwork to electronic
documentation. All these initiatives allow our staff to serve our customers better.
Moving forward, Danamon is exploring the potential of migrating the DRC (Disaster Recovery Center)
data center to an alternate data center in Indonesia, which can ensure the infrastructure and security
standards are based on DC Tier-3 or Tier-4. In 2021, Danamon successfully completed the Core Banking
System swing process from a Production DC to the DRC, and then back to the Production DC. Similar
swing over process has been conducted for all critical applications. Thus, Danamon is quite serious in
ensuring customer transactions and services continue in a stable manner. Employee care remains a
priority—the enhanced Danamon Care app allows recommendations to be communicated to employees
based on survey results, provides recommendations for work locations based on surveys, and permits
non-staff to be tracked and surveyed—all with better user experiences. To further improve services
for customers, Danamon will implement the latest DevSecOps technology to ensure system reliability,
better service monitoring, and fast recovery in the event of an IT system failure. IT has initiated the
journey to implement a modern software development foundation that allows accelerated change
and faster delivery by focusing on software-defined life cycles that provides tools to make processes
effective and automated (CICD) by adopting a DevSecOps culture that drives responsiveness and agility.
277
Regulatory, Compliance and Security Initiatives

With greater dependence on digital systems during the pandemic comes greater pressure to ensure the
security of these systems for both the Bank and its customers. Danamon’s IT team has been constantly
vigilant to this need and to any potential threats, external and internal. We routinely update our security
technologies, carry out vulnerability scans and penetration tests, and campaign for heightened security
awareness among both employees and customers. Among the measures we took last year was to
ensure employees could work securely from home through a Virtual Private Network (VPN). We also
ensured disaster management processes and solutions were in place to anticipate and respond to
any unforeseeable contingencies so as to allow Danamon’s banking services to remain accessible to
customers at all times. To be compliant with BI and OJK regulations, new systems and enhancements
to various IT systems such as Antasena, IFRS9, LLD, Fraud Detection System, Anti-Money Laundering
etc. were implemented. We will continue to improve regulatory applications such that timely and
correct reporting for compliance are ensured.
To help ensure that quality solutions and services are delivered to customers, Danamon will continuously
review and increase its capacity as needed alongside the implementation of DevSecOps in 2022. We
plan to expand cloud-based security protection to all internet applications to keep customer data,
information, and transactions safe from cyberattacks. In 2021, we successfully implemented such
protection on applications that are directly used by customers. We believe this should be an ongoing
activity to improve services, security, and convenience for customers. For employees who work from
home, we will implement network access controls to ensure they can take full advantage of Danamon’s
technology infrastructure. We will continue to remain vigilant as we move forward to comply with the
Bank’s internal regulations besides fulfilling the expectations of the regulators.
278
OPERATIONS Operations
Danamon’s Operations which always focus on meeting various customer

needs and continuous improvements of its’ human resources through
up-skilling programs and implementation of the New Employee Value
Proposition (Let’s GROW!), therefore, successfully attained various
recognitions from correspondent banks.
The Operations Directorate continuously evaluates 3. Optimizing loans processing, which includes
operational processes to enhance customer satisfaction. automation of consumer loan disbursement and
In order to meet the challenges and customers’ enhancement of the centralized limit system for
need, the Operations Directorate collaborates with all automated aggregate-limit-level monitoring and
Danamon stakeholders to create an optimum operating more comprehensive reporting.
model, an integrated risk and compliance culture, and 4. Implementation of Antasena, a new regulatory
also to focus on employee development to improve reporting system, and a collectability equalization
their knowledge and performance. project.
5. Increased control and compliance related to Anti-
PERFORMANCE IN 2021 Money Laundering and Sanction Screening in
operational units.
Throughout 2021, the Operations Directorate continued 6. Perform business process re-engineering, which
to focus on optimizing operational efficiency and includes assessment of Robotic Process Automation
maintaining good corporate governance. The Operations in Trade Operation area.
Directorate also consistently increased straight-through 7. Enhancement of infrastructure for Treasury
processing rate and enhanced support systems for processes to support dual-currency investment, Call
stronger compliance and control. Spread Option products, and Market Link Deposits.
8. Involvement in the development of fraud detection
Despite the COVID-19 pandemic, the Operations system to detect potential cases of fraud that are
Directorate continues to implement best practices being carried out by internal or external parties.
in delivering a great banking experience to customers
while ensuring safety and health of employees. Adapting to the digital era, the Operations Directorate
continues to train high-quality employees with a new
Our continuous improvement initiatives include: focus on performance measures by investing in up-skilling
1. Implementation of a Split Operation strategy for programs and implementing the New Employee Value
critical functions and a targeted work-from-home Proposition (Let’s GROW!). The employee development
approach for operational teams, based on their programs implemented in 2021 were as follows:
roles and responsibilities, to prevent the spread of 1. Multiple e-Learning and Webinar modules to
COVID-19 and to ensure sustainable operational improve the knowledge of operational processes of
processes. all operational staff.
2. Improvements of payment which includes 2. An up-skilling program that was redesigned to
implementation of SIMODIS, BI FAST, and Web enable online delivery.
Service SKN Credit.
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Operations
3. Specialized learning programs and certifications To achieve this goal, the following are the strategies
for Operations teams, such as Trade Operation and Operations will implement in 2022:
collateral appraisal teams. 1. Continuous initiatives to improve payment
4. Prepare future leaders and succession planning for processes and adhere to new payment regulations,
Danamon’s Operations with the Danamon Bankers which include BI FAST and monitoring system for
Trainee (DBT) program and internal job rotation. foreign exchange transactions against Rupiah
5. Active involvement in training module creation and (SISMONTAVAR) to minimize risks and errors.
certification for Sistem Pembayaran and Pengelolaan 2. Continuous improvement of loan processing, which
Uang Rupiah (SPPUR) based on targets set by Bank includes automation of loans disbursement and
Indonesia. renewal.
3. Continuous implementation of various regulatory
AWARDS AND RECOGNITION IN 2021 requirements, including enhancement of SLIK
Reporting.
Danamon made various efforts to execute transactions 4. Perform business process re-engineering, which is
within the agreed service levels. In 2021, Operations was aimed at improving productivity and efficiency and
awarded various Straight-Through Processing Awards creating better customer service by continuing the
from correspondent banks, including: Robotic Process Automation initiative in several
1. The 2021 Elite Quality Recognition Award for key areas of Operations and by continuing system
Outstanding Achievement of Best-in-Class MT202 enhancements.
with an STP Rate of 99.98% from J.P. Morgan Chase 5. Improvement of internal bank systems to enhance
Bank. control, shorter SLA, and increase customer
2. The 2021 Elite Quality Recognition Award for satisfaction, as well as to protect the Bank from the
Outstanding Achievement of Best-in-Class MT103 risk of losses.
with an STP Rate of 99.43% from J.P. Morgan Chase 6. Carry on staff development program which include
Bank. job rotation and up-skilling training programs,
3. The 2020 Elite Quality Recognition Award for specific certification for operational process as well
Outstanding Achievement of Best-in-Class MT202 as actively involved in bank industry’s certification.
with an STP Rate of 99.97% from J.P. Morgan Chase
Bank.
4. The USD Payment of Straight-Through Processing
Excellence Award with an STP Rate of more than
99.53% from Citibank.
5. Award for USD Clearing Payments with an STP Rate
of more than 99.10% from Standard Chartered.
2022 PLANS
In 2022, the Operations Directorate will continue to focus

on a sustainable growth strategy through its process-
improvement initiatives to ensure customer satisfaction
and to optimize productivity while maintaining a strong
risk culture.
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06 Good Corporate
Governance
Operations
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#06
Corporate
Governance
CORPORATE
GOVERNANCE
Good corporate governance is made up of the values that Danamon puts into practice
consistently in pursuit of a sustainable business. These values have contributed
to Danamon’s success to date. The discipline of implementing robust corporate
governance is maintained to add value to the shareholders and stakeholders,
making Danamon as an international company that consistently creates positive
contributions to Indonesia’s economy.
Danamon’s success to maintain its presence in the Banking Law, Financial Services Authority Regulations,
banking industry reflects the solid relations it has with its Bank Indonesia Regulations, Indonesian Stock Exchange
business environment. To sustain this in the long-term, Regulations and Company Articles of Association,
the Bank needs a system that can regulate its internal ASEAN Corporate Governance Scorecard, Indonesian
and external relationships. Good corporate governance GCG General Guidelines and Indonesian Banking
(GCG) meets this need; GCG entails processes, habits, GCG Guidelines issued by the National Committee on
policies, rules, and bodies that influence the Bank’s Governance Policy (KNKG) as well as best practices for
operations, management, and control. The GCG implementing good corporate governance.
system demonstrates Danamon’s accountability to its
shareholders and stakeholders. Good Corporate Governance are the principles that
underlie a process and mechanism for managing the
BASIS FOR IMPLEMENTATION OF DANAMON’S Company, which includes the structure, process and
GOVERNANCE POLICY results of the implementation of governance. The
application of good corporate governance principles can
Danamon has an Integrated Governance Policy for the contribute to improving company performance. With
MUFG Group Financial Conglomerate which serves as an inherent internal control and supervision system,
a practical guide and reference in implementing the including the application of adequate IT Governance
principles of good corporate governance at every activity and Resources in the application of GCG principles and
and organizational level at Danamon and Financial practices, it is expected to increase the value of the firm
Services Institutions within the MUFG Group Financial in the long term.
Conglomerate. These policies have been reviewed
and compiled with reference to relevant laws and
regulations, including the Limited Liability Company Law,
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06 Corporate Governance
Corporate Governance
COMMITMENTS AND OBJECTIVES OF THE IMPLEMENTATION OF DANAMON’S GOVERNANCE
Danamon is committed to consistently improving the quality of implementation of the principles of good corporate
governance at all levels of the organization and in all aspects of its business activities, including integrated subsidiaries
and related companies. Along with the development of best practices in the implementation of corporate governance,
both in the banking industry and in the financial services industry, Danamon is refining its governance policies as a
form of commitment to improving the quality of governance implementation at Danamon.
The implementation of good corporate governance in a sustainable manner is expected to further boost the company’s
performance, increase investor confidence, protect the interests of stakeholders, and optimize Danamon’s added
value as well as make a positive contribution to the banking industry, financial industry and the Indonesian economy.
DANAMON GOVERNANCE IMPLEMENTATION ROADMAP
Danamon consistently and continuously makes improvements in the implementation of Danamon’s governance
as outlined in the roadmap for the implementation of Danamon’s governance. The roadmap for implementing
Danamon’s governance is as follows:
• Disclosure of the GMS Agenda and its explanation.

• Publication of GMS Resolutions one day after the GMS is held.
• Disclosures on the Danamon website: Governance Policy, Articles of Association, Personal Investment
Policy, Related Party Transaction Policy and Conflict of Interest Transactions, Shareholders and Groups.
2013 • Improvement of Danamon’s website, including bilingual.
• Complete the management profile and minutes of the GMS.
• Disclosure of Remuneration Policy for Directors and Commissioners in the Annual Report.
• Align and improve the practice of implementing good corporate governance with the prevailing laws
and regulations, especially with the recommendations of the Financial Services Authority as contained
in the Indonesian Corporate Governance Roadmap.
• Align and improve the practice of implementing good corporate governance with the ASEAN CG Scorecard.
2014 • Facilitate all members of the Board of Commissioners with a risk management refreshment course.
• Separated the Nomination & Remuneration Committee into 2 (two) committees, namely the Nomination
Committee and the Remuneration Committee.
• Referring to the applicable regulations, adjusting the membership structure of the Audit Committee,
Risk Oversight Committee, Remuneration Committee, Nomination Committee.
• Improve and update the Guidelines and Code of Conduct for the Board of Commissioners, Board
of Directors, Audit Committee, Risk Oversight Committee, Nomination Committee, Remuneration
Committee and Governance Committee.
• Affiliate Transaction and Conflict of Interest Policy.
• Integrated Governance and Integrated Risk Management implementation through the availability of an
integrated structure and infrastructure.
• Addition of Independent Commissioners to the Nomination Committee and Remuneration Committee.
• Board of Commissioners and Directors Diversity Policy, Board of Commissioners and Directors Nomination
2015 Policy, Board of Commissioners and Board of Directors Performance Assessment Policy, Board of
Commissioners Performance Assessment Tools, Anti Gratification Policy (Receiving and Giving Gifts).
• Dividend payment within 30 days.
• Disclosure of candidate profiles for members of the Board of Commissioners.
285
• Improvement of Integrated Governance implementation and improvement of Subsidiary Corporate

Governance guidelines.
• Improving the implementation of Good Corporate Governance with the regulations of the Financial
Services Authority regarding the Guidelines for the Governance of Public Companies.
2016 • Improvement of the guidelines and work procedures of the Nomination and Remuneration Committee.
• Adjustment and simplification of the committees under the Board of Directors.
• Communication Policy, Board of Directors Succession Policy, Board of Directors Performance Assessment
Tools.
• Improved Whistleblower Policy.
• Alignment of the implementation of Danamon’s governance with the regulations of the Financial
Services Authority regarding the Implementation of Governance for Commercial Banks.
2017 • Danamon website improvement.
• Policies supporting the implementation of Danamon’s governance improvement
• Improving the implementation of Danamon’s governance.

• Review the guidelines and work procedures of the Board of Directors, Board of Commissioners,
Committees under the Board of Commissioners.
• Review the Subsidiary’s Corporate Governance Policy.
2018 • Adjustment of the membership structure of the Integrated Governance Committee.
• Completion of a number of policies related to the implementation of the Anti-Money Laundering and
Prevention of Terrorism Financing (APU-PPT) policies.
• Completion and updating of a number of policies related to Risk Management.
• Changes in organizational structure.
• Improvement of policies supporting the implementation of corporate governance.

• Completion of guidelines and work procedures for corporate governance organs.
• Code of Conduct update.
2019 • Adjustment of the Committee’s membership structure.
• Improvement and update of a number of policies related to Risk Management and Integrated Governance.
• Adjustment of the structure and members of the Financial Conglomerate.

• Adjustment of committee membership structure.
2020 •
•
Completion and update of guidelines and work procedures for the organs of corporate governance.
Completion of policies related to the implementation of the Anti-Money Laundering and Prevention of
Terrorism Financing (APU-PPT) policies.
• Improvement and update of policies supporting the implementation of corporate governance.
2021 • Adjustment of committee membership structure.
• Completion of a number of policies related to the implementation of the Anti-Money Laundering and
Prevention of Terrorism Financing (APU-PPT) policies.
• Completion and update of a number of policies related to Risk Management and Integrated Governance
2022 of the MUFG Group Financial Conglomerate.
• Updating of the Bank’s Financial Conglomerate Corporation Charter.
• Completion and updating of policies supporting the implementation of Good Corporate Governance.
• Updating several guidelines and work procedures for the committees.
286
POLICIES, ORGANS AND
IMPLEMENTATION OF
DANAMON’S GOVERNANCE
CORPORATE Governance Policy
Danamon as the Main Entity prepares and establishes the Integrated Governance Policy in the MUFG Group Financial
Conglomerate in Indonesia. This policy is the main guideline in implementing integrated governance that must be
followed by all Entities in the MUFG Group Financial Conglomerate in Indonesia.
Bank Danamon implements Good Corporate Governance based on 5 (five) basic principles of Good Governance as
follows:
Transparency
Danamon is committed to provide information disclosure which proper, clear, accurate and timely, can be
compared and access by shareholders and stakeholders.
Accountability
Clear definition of function, duty and authority and responsibility in organization which is regulated reffered
to each function’s guidelines and rules of work. Danamon as an institution is able to take responsibilities
it’s performance accountably
Responsibility
Danamon is commited to comply with the law and internal regulation which are set. In addition, Danamon
carries out environmental social responsibility to realize sustainable business and be recognized as good
corporate citizen.
Fairness and Equality

Danamon ensures all shareholders’ rights and interests, both majority and minority, can be achieved. Danamon
also promote fairness and equality to all stakeholders.
Independency
Danamon’s organs carries out their activites independently and objectively, and avoid influence domination
from any side. Danamon is commited to run it’s business professionaly
287
CORPORATE Governance Organ OF DANAMON

Danamon’s governance organs were formed to support the implementation of good corporate governance principles
so that they can run in a systematic and structured manner. Organs supporting the implementation of Danamon’s
governance have clear roles and responsibilities so as to create a check and balance control mechanism.
General Meeting of Shareholders
Check and
Board of Commissioners Balance Board of Directors
Integrated Corporate Integrated Risk

Governance Committee Management
Committee
Audit Committee Internal Audit Unit
Risk Management Committee

Risk Oversight Committee
Assets &
Liabilities Committee (ALCO)
Nomination Committee
Steering Committee
Remuneration Committee
Human Capital (HC) Committee
Committee Sustainability Committee
Real Estate Steering Committee
Hello Risk Legal & Corporate Investor

Internal Control CSR
Danamon Management Compliance Secretary Relations & FAT
288
DANAMON CORPORATE Governance
IMPLEMENTATION
Danamon realizes that the implementation of good The implementation of Danamon’s Governance is
corporate governance is no longer a necessity, but is based on 5 (five) basic principles of good governance,
the main foundation and basic requirement in carrying namely the principles of Transparency, Accountability,
out business activities. The implementation of good Responsibility, Independence and Fairness and Equality
corporate governance is built on solid integrity, so that which are grouped into a governance system consisting
the principles of good governance can be implemented of 3 (three) aspects of governance in the form of a
at every level of the organization, and implemented in Governance Structure. Manage, Governance Process
every Danamon activity so that all operational activities and Governance Results.
can run consistently and sustainably.
Governance Structure Governance Process Governance Result

• The number, composition, criteria • Adequate implementation • Danamon’s positive performance
and independence of the Board of of the functions, duties and includes profitability, efficiency
Commissioners, Board of Directors responsibilities of Danamon’s and capital;
and committees of Danamon are organs so as to optimize the • Danamon’s activities are free from
adequate and in accordance with supervisory and controlling the intervention of the owner and
Danamon’s needs and applicable functions; other related parties that may
Financial Services Authority/Bank • The process of replacing and cause a conflict of interest;
Indonesia regulations; appointing Commissioners, • Disclosure of financial and non-
• Danamon as the Main Entity Directors and Committees in financial conditions as well as
in the MUFG Group Financial accordance with applicable other important information
Conglomerate formed the regulations; supported by Danamon’s website
Integrated Governance Committee • Increasing the competence of which is informative and easily
and Integrated Risk Management the Board of Commissioners and accessible to the Stakeholders;
Committee; the Board of Directors through • Adequate compliance and risk
• The main duties, responsibilities, continuous education and management as well as follow-
and functions of all levels in training; up on audit results according to
Danamon are adequate and set • Disclosure of affiliated commitments;
out in the Policies, Guidelines and transactions, conflicts of interest • The Bank’s Business Plan
Work Rules. Danamon’s Policies, by the Board of Directors and the describes the sustainable
Procedures and Management Board of Commissioners; growth of Danamon and provides
Information System are available • Provision of funds to related economic and non-economic
and support Danamon’s parties and the provision of large benefits for all Stakeholders.
operational activities; funds are carried out through a
• Governance Guidelines, risk normal credit approval process
management framework, and taking into account the arm’s
adequacy of internal control, length principle;
compliance function and • Risk management has been
adequate internal audit function implemented properly so that
with appropriate external audit the risks that may arise can be
assignments; managed adequately;
• Availability of policies for providing • Complete, accurate and
funds to related parties/providing proportional disclosure of
large funds, conflicts of interest financial, non-financial
and aspects of transparency; information, Danamon products,
• Strategic and business plans in customer complaints;
line with Danamon’s vision and • The formulation of strategic and
mission business plans is carried out
in a realistic, comprehensive
and measurable manner
that is approved by the
Board of Commissioners and
communicated to shareholders
and all levels of the organization.
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FOCUS AND ACHIEVEMENTS

OF THE IMPLEMENTATION
OF DANAMON CORPORATE
GOVERNANCE IN 2021
During 2021, various initiatives to strengthen the implementation of governance by aligning the implementation of
governance in accordance with the laws and regulations as well as improving the structure and policies supporting
governance, among others:
Financial Conglomeration ALIGNMENT

In early 2020, MUFG Bank, Ltd as Danamon’s Controlling Shareholder has appointed Danamon as the Main Entity
in the MUFG Group Financial Conglomerate. The appointment of the Main Entity and changes to the MUFG Group
Financial Conglomerate have been submitted to the Financial Services Authority (“OJK”) and have been recorded in
the OJK supervisory administration in March 2020.
Referring to the MUFG Group Financial Conglomerate, there is a change in the ownership of PT U Finance Indonesia
(“UFI”) from the previous share ownership by MUFG Bank, Ltd. and Mitsubishi-UFJ Nicos Co. Ltd. became ownership
by Chailease International Co. (Hong Kong), Ltd. and PT Artha Sekawan Asia on August 31, 2021. This has also been
recorded in the OJK’s Financial Services Institution Licensing Information System (SIJINGGA).
Bank Danamon has reported a change in the members of the MUFG Group Financial Conglomerate to OJK through
the SIPENA reporting system on December 3, 2021.
Thus, the Membership structure of the MUFG Group Financial Conglomerate is as follows.
Position in Financial
No. Company Relation with Danamon
Conglomerate
1 PT Bank Danamon Indonesia Tbk (“Danamon”) Main Entity -
2 PT Adira Dinamika Multi Finance Tbk (“ADMF”) Member Subsidiary (vertical relationship)
3 MUFG Bank, Ltd. Cabang Jakarta (“MUFG Jakarta”) Member Sister Company (horizontal relationship)
4 PT U Finance Indonesia (“UFI”) 1
Member Sister Company (horizontal relationship)
5 PT Adira Quantum Multifinance (“AQM”) 2
Member Subsidiary (vertical relationship)
In Q3 2021 there was a change in UFI’s shareholder where MUFG is no longer listed as a shareholder of UFI. The change in UFI’s
1)
shareholders has been approved by the Regulator in Q4 2021. The Main Entity has submitted a letter of change MUFG Group’s
financial conglomerate to the Regulator in December 2021 and is currently waiting for the Regulator to record those changes.
2)
Currently in the process of completing liquidation
MUFG Grup Group Financial Conglomeration Agreement

As a follow-up to the change in membership in the MUFG Group Financial Conglomerate, Danamon as the Main Entity
made the MUFG Group Financial Conglomerate Agreement which contains, among other things, commitments and
agreements related to integrated governance and integrated risk management.
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Focus And Achievements Of The Implementation Of Danamon Corporate Governance In 2021
Changes in Membership of the Committees under the Board of Commissioners

There have been changes in the membership of the Committees under the Board of Commissioners which were
caused, among others, by changes in the composition of the Board of Commissioners, the end of the term of office of
the Board of Commissioners in the Committees, and adjustments to the membership of the Financial Conglomerate.
REFINEMENT of Integrated Governance Policy

In 2021, the Bank has reviewed and refined the Integrated Governance Policy of the MUFG Group Financial Conglomerate.
This policy has been conveyed to members of the MUFG Group Financial Conglomerate.
Alignment with MUFG Policy

As part of MUFG, which is the world’s leading financial group, Danamon implemented several new policies and
adjusted several policies to align with the best practices that run at MUFG. The newly implemented policies include
the Anti-Bribery and Corruption Policy and the Volcker Rule Compliance Program Policy.
REFINEMENT of Risk Management Policy

In 2021, Danamon has compiled and reviewed/reviewed several policies to accommodate the development of
applicable laws and regulations related to risk management, namely:
1. Risk Management Policy – Bank and Consolidation
2. MUFG Group Financial Conglomerate Integrated Risk Management Policy
3. Market and Liquidity Risk Management Policy
4. Credit Risk Policy
5. Operational Risk Management Policy
6. Information Technology Policy
7. Capital Management Policy
8. Integrated Capital Management Policy of the MUFG Group Financial Conglomerate
9. Expected Credit Loss Policy Dh. Allowance for Impairment Losses (CKPN)
10. Sustainability Policy
11. Information Security Policy
12. Standard Product Program and Credit guide
13. Hierarchy Policy and Standard Terms
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ASSESSMENT OF THE
Assessment Of The Implementation Of Danamon’s Governance In 2021
IMPLEMENTATION OF DANAMON’S
GOVERNANCE IN 2021
The Bank continues to measure the quality of and procedures, management information systems
governance implementation, whether it is carried out by as well as the main tasks and functions of each
self-assessment or in collaboration with third parties, to organizational structure
obtain a more independent assessment result. 2. Governance Process
The Governance Process assessment aims to assess
Self Assessment of Corporate Governance the effectiveness of the process of implementing the
Implementation principles of Good Governance which is supported
In accordance with POJK No.55/POJK.03/2016 regarding by the adequacy of the structure and infrastructure
the Implementation of Good Corporate Governance for of the Bank’s Governance so that it is expected that
Commercial Banks and its implementing regulations the Bank will show results (outcomes) that are in line
SEOJK No.13/SEOJK.03/2017 regarding the Implementation with the expectations of the Bank’s Stakeholders.
of Good Corporate Governance for Commercial Banks, 3. Governance Results (Governance Otcome)
Danamon periodically conducts self-assessment on the The Governance Outcome Assessment aims to
implementation of corporate governance. The results of assess the quality of the Bank’s outcomes that
corporate governance implementation self-assessment meet the expectations of the Bank’s Stakeholders,
is one of the coverage factors for the Bank Soundness which is the result of the process of implementing
Level Assessment using the risk approach or RBBR, Good Governance principles and supported by the
both individually and on a consolidated basis which adequacy of the Bank’s Governance structure and
is carried out at least every semester for positions at infrastructure.
the end of June and end of December as regulated in
POJK No. 4/POJK.03/2016 regarding the Assessment Assessment Factors for Implementation of
of the Soundness of Commercial Banks and SEOJK Governance
No.14/SEOJK.03/2017 concerning the Assessment of the The Bank conducts periodic self-assessment on
Soundness of Commercial Banks. In this regard, the the implementation of Good Corporate Governance
Bank conducts corporate governance implementation principles, which includes at least 11 (eleven) factors for
self-assessment according to the Bank Soundness Level assessing the implementation of Governance, namely:
assessment period. The results of corporate governance 1. Implementation of the duties and responsibilities of
implementation self-assessment have been submitted the Board of Directors;
to the OJK together with the submission of the report 2. Implementation of the duties and responsibilities of
on the results of the self-assessment of the Bank’s the Board of Commissioners;
Soundness Level. 3. Completeness and implementation of committee duties;
4. Handling conflicts of interest;
The assessment is carried out based on the assessment 5. Implementation of compliance function;
factors determined under OJK regulations, including 6. Implementation of the internal audit function;
the quality of implementing the principles of corporate 7. Implementation of the external audit function;
governance in a comprehensive and structured manner 8. Implementation of risk management including the
that is integrated into 3 (three) aspects of governance, internal control system;
namely: 9. Provision of funds to related parties and large
1. Governance Structure exposures;
The Governance Structure assessment aims 10. Transparency of the Bank’s financial and non-
to assess the adequacy of the structure and financial conditions, reports on the implementation
infrastructure of the Bank’s Governance so that of governance and internal reporting; and
the process of implementing Good Governance 11. Bank’s strategic plan.
principles produces outcomes that are in line
with the expectations of the Bank’s Stakeholders. In addition, it is necessary to pay attention to other
Included in the Bank’s Governance structure are information related to the implementation of Bank
the Board of Directors, Board of Commissioners, Governance other than the 11 (eleven) assessment
committees, and work units at the Bank. The Bank factors for the implementation of Governance.
Governance infrastructure includes Bank policies
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Results of the 2021 Governance Implementation Self Assessment

Based on the results of the Governance implementation self assessment for the positions of June and December
2021 as follows:
Level Level Definition
Reflecting that Danamon’s management has implemented good corporate governance
in general. This is reflected in the adequate compliance with the principles of corporate
Bank 2 (Good) governance. If there are weaknesses in the application of governance principles, in general,
these weaknesses are less significant and can be resolved by normal actions by Danamon’s
management.
During 2021, based on the results of the assessment of 11 (eleven) assessment factors for the implementation of
Good Corporate Governance, the Bank has adequate governance structure and infrastructure that supports the
effectiveness of the process of implementing Good Governance principles and the quality of the implementation of
Good Corporate Governance principles that can meet expectations. stakeholders.
The results of the self-assessment of the implementation of Governance for the December 2021 position are as
follows:
1. The number of members of the Board of Directors of Danamon is 8 (eight) people with the following composition:
No Name Position
1 Yasushi Itagaki President Director
2 Honggo Widjojo Kangmasto Vice President Director
3 Herry Hykmanto Director
4 Rita Mirasari Director
5 Heriyanto Agung Putra Director
6 Dadi Budiana Director
7 Muljono Tjandra Director
8 Naoki Mizoguchi Director
Michellina Laksmi Triwardhany, has resigned as Vice President Director effective September 4, 2027 which was
determined through the Extraordinary General Meeting of Shareholders (EGMS) August 26, 2021. Adnan Qayum Khan,
has resigned as Director effective July 24, 2021 which Tbk is for the purpose of supervision. Restrictions on
was stipulated through the EGMS August 26, 2021. concurrent positions for members of the Board of
Directors are regulated in the Board of Directors Charter
All Board of Directors members have obtained approval and Corporate Governance Guidelines.
from OJK and have met the requirements for integrity,
competence and financial reputation. All members of During the assessment period, the Bank management
the Board of Directors do not hold concurrent positions is carried out entirely by the Board of Directors in
as Commissioners, Directors or Executive Officers in accordance with their authorities and responsibilities.
other banks, companies and or institutions, except in the The duties implementation and responsibilities of
context of carrying out supervisory duties on investments the Board of Directors has been equipped with clear
in non-bank subsidiary companies controlled by policies and guidelines and work procedures (Charter).
Danamon. Based on the Personal Statement as of All audit findings and recommendations from SKAI and
December 31, 2021, the concurrent position of Danamon’s external auditors are always followed up by the Board
President Director at a Subsidiary Company as President of Directors.
Commissioner of PT Adira Dinamika Multifinance,
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2. The number of members of the Board of Commissioners is 8 (eight) people and the number of members of the
Board of Commissioners does not exceed the number of members of the Board of Directors, with the following
composition:
No Name Position
1 Takayoshi Futae President Commissioner
2 J. B. Kristiadi Vice President Commissioner (Independent)
3 Peter Benyamin Stok Independenet Commissioner
4 Nobuya Kawasaki Commissioner
5 Hedy Maria Helena Lapian Independenet Commissioner
6 Takanori Sazaki Commissioner
7 Dan Harsono Commissioner
8 Halim Alamsyah Independenet Commissioner
with a term of office that will end until the closing of the Annual GMS for the financial year ending on December
31, 2022, which will be held no later than June 2023, without prejudice to the right of the GMS to dismiss (them)
at any time.
All Board of Commissioners members have passed the fit and proper test from the OJK. The total composition of
the Independent Commissioners has complied with the provisions, namely at least 50% (fifty percent) of the total
members of the Board of Commissioners. During the assessment period, there was no Independent Commissioner
who became the chairman of the committee exceeding the stipulated requirements. The implementation of the
duties and responsibilities of the Board of Commissioners has been carried out in accordance with its duties and
responsibilities which are equipped with clear policies and guidelines and work procedures (charter). The Board
of Commissioners always conducts supervision through Board of Commissioners meetings and joint meetings
between the Board of Commissioners and the Board of Directors which are held periodically or from time to time.
Supervision is also carried out based on reports submitted by the Board of Directors and the Committees of the
Board of Commissioners. The Board of Commissioners has never been involved in the decisions of the Bank’s
daily operational activities.
3. Danamon already has Committees that assist the implementation of the duties of the Board of Commissioners,
namely the Audit Committee, Risk Oversight Committee, Nomination Committee, and Remuneration Committee,
Governance Committee, and Integrated Governance Committee with the following structure:
Position in
Name Position
Committee
Audit Committee
Peter Benyamin Stok Chairman Independent Commissioner
J. B. Kristiadi Member Vice President Commissioner/ Independent
Halim Alamsyah Member Independent Commissioner
Mawar Napitupulu Member Independent Party
Zainal Abidin Member Independent Party
Risk Oversight Committee
Hedy Maria Helena Lapian Chairman Independent Commissioner
Peter Benyamin Stok Member Independent Commissioner
Nobuya Kawasaki Member Commissioner
Dan Harsono Member Commissioner
Mawar Napitupulu Member Independent Party
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Position in
Name Position
Committee
J. B. Kristiadi Chairman Vice President Commissioner/ Independent
Takayoshi Futae Member President Commissioner
Hedy Maria Helena Lapian Member Independent Commissioner
Takanori Sazaki Member Commissioner
Roy Fahrizal Permana Member Executive Officer
Nomination Committee
J. B. Kristiadi Chairman Vice President Commissioner/ Independent
Takayoshi Futae Member President Commissioner
Takanori Sazaki Member Commissioner
Roy Fahrizal Permana Member Executive Officer
Governance Committee
Integrated Governance Committee
M. Din Syamsuddin Member Sharia Supervisory Board Chairman
Krisna Wijaya Member Representative of Adira Dinamika Multi Finance (ADMF)
Ramanathan S Member Representative of MUFG Jakarta
Tatsuya Ishikawa Member Perwakilan dari MUFG Jakarta
Andre S. Painchaud Member Perwakilan dari MUFG Jakarta
Committees are formed according to the provisions 4. The Bank has a policy related to handling conflicts
and needs of Danamon with a membership of interest which regulates the implementation of
composition that supports the independence systems and procedures for resolving conflicts of
and implementation of the committee’s duties. interest that binds every management and employee
The duties and responsibilities of the Committees of the Bank. During the assessment period there
have been carried out in accordance with their were no transactions containing conflicts of interest.
duties and responsibilities which are equipped with 5. The Bank has a Compliance Work Unit that is
clear policies and guidelines and work procedures independent of the operational work unit, namely
(charters) which are updated regularly. The Regulatory Compliance. The Compliance Unit is
committee’s working mechanism has been running under the responsibility of the Director in charge of
well, including meetings and documentation of the Compliance Function (Director of Compliance).
minutes of meetings. The appointment of the Compliance Director has
met the applicable requirements, namely being
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independent and not in charge of functions that refers to general business ethics standards and
are not permitted by applicable regulations and has applicable regulations which become the Bank’s
obtained OJK approval. The Compliance function culture of compliance in decision-making and the
has been implemented adequately with the support Bank’s operational activities. The implementation
of adequate human resources. of the duties and responsibilities of the compliance
function is submitted to the OJK through the
As the Main Entity in the MUFG Group Financial Compliance Report.
Conglomerate, the Bank has an Integrated
Compliance Unit (SKKT) function which is 6. The Bank has established an independent Internal
independent from other operational work units Audit Unit (SKAI), has the 2020 version of the
whose duties and responsibilities are carried out by Integrated Internal Audit Charter and has compiled
Regulatory Compliance. SKKT is responsible to the an Internal Audit Guide (Manual Audit and Standard
Director in charge of the Compliance Function. SKKT Audit Program). SKAI is led by the Head of SKAI who
has the task of at least monitoring and evaluating reports directly to the President Director. To support
the implementation of the compliance function in the independence of SKAI and ensure a smooth
each Entity in the Financial Conglomerate. audit as well as the authority to monitor follow-
up, the Head of SKAI also submits reports to the
Referring to the MUFG Group Financial Conglomerate, President Director, Board of Commissioners, Audit
there is a change in the ownership of PT U Finance Committee, and Compliance Director.
Indonesia (“UFl”) from the previous share ownership
by MUFG Bank, Ltd. and Mitsubishi-UFJ Nicos Co. SKAI has independence in conducting audits and
Ltd. became ownership by Chailease International expressing views in accordance with professional
Co. (Hong Kong), Ltd. and PT Artha Sekawan Asia standards by being impartial to the interests of other
on August 31, 2021. This has also been recorded in parties that are not in accordance with the laws and
the OJK’s Financial Services Institution Licensing regulations.
Information System (SIJINGGA), which notification
was submitted through OJK Letter No.S-4091/ SKAI has quality human resources obtained through
NB.111/2021 dated November 16, 2021. regarding a structured recruitment process and adequate
the Report on the Implementation of Changes in training so as to meet the needs of carrying out
Ownership of PT. U Finance Indonesia. In connection audit tasks in accordance with the scope and audit
with the change in share ownership, Bank Danamon plan. The Board of Directors has established an
has reported a change in the members of the MUFG internal control structure in each line of business.
Financial Conglomerate Independent Commissioner, The internal audit function at the management
Representative from Adira Dinamika Multi Finance level has been carried out based on a risk-based
Representative from MUFG Jakarta Representative audit approach and according to the agreed audit
from MUFG Jakarta Andre S. Painchaud schedule. The Board of Directors ensures that the
Representative from MUFG Jakarta 6. The group to follow-up on any findings of the Bank’s internal audit
OJK through SIPENA reporting system with letter has been carried out by the relevant work unit by
number No.B.790-DIR dated December 3, 2021. referring to the policies and directions of the Board
of Commissioners through the Audit Committee.
The Bank has made various efforts to ensure There is a framework that regulates the escalation
the Bank’s compliance, among others: through mechanism for any follow-up on audit findings that
strengthening the compliance function by increasing go beyond the agreed deadline.
awareness and understanding of compliance
(Compliance Culture), implementing Compliance SKAI uses a risk-based audit approach (Risk Based
Studies, conducting Regulatory Compliance Audit Approach) to determine all aspects and
Assurance (testing), monitoring the Bank’s elements of activities that are expected to directly
regulatory parameters and monitoring follow- affect the interests of Danamon and the community.
up results. Regulatory checks. The Bank always The effectiveness of the implementation of SKAI’s
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work and its compliance with OJK regulations is April 202L, appointed Elisabeth Imelda as a Public
evaluated by an external party every 3 (three) years Accountant (PA) and Imelda & Partners (a member
in accordance with the provisions of OJK regulations. firm of the Deloitte Touche Tohmatsu Limited
In 2021 SKAI will be reviewed by PT Ernst & Young global network) as a Public Accounting Firm (PAF)
Indonesia (“EY”), with a review period from June 2018 registered with the Indonesian Institute of Public
to d. June 202L. The review was carried out in June Accountants (IAPl) and OJK, Room The scope of the
202L and the report on the results of the review assignment is an audit of the consolidated financial
was submitted to the OJK based on the cover letter statements of PT Bank Danamon Indonesia Tbk and
No.B.550-DIR dated August 18, 2021 and the receipt its Subsidiaries for the 2021 financial year.
of the report by OJK via the SIPENA application on
August 26, 2021. The Employment Agreement (“Engagement Letter”)
was signed on August 16, 2021. The professional
The SKAI audit plan is prepared every year and set standard of public accountants used is the Auditing
forth in the Bank’s Annual Internal Audit Plan which Standard issued by IAPl. The Public Accountant has
is approved by the President Director and the Board communicated directly with the OJK (Supervisor)
of Commissioners through the Audit Committee. regarding the planning and implementation of the
There are no deviations in the realization of the 2027 audit on December 8, 2021. Meanwhile, the
Bank’s SKAI audit plan. The realization of the 2021 communication on the audit results by PAF to OJK
Audit is in accordance with the audit plan that (supervisor) will be carried out in the first quarter
has been approved by the President Director and of 2022. Assignment of audit to PA and PAF above
the Board of Commissioners through the Audit has been carried out in accordance with OJK
Committee. The realization of Danamon’s SKAI audit regulations. The audit of the consolidated financial
as of 31 December 2021 was 209 entities (including 2 statements of PT Bank Danamon Indonesia Tbk and
ADMF audit entities) or 100% of the 2021 audit plan. its Subsidiaries for the 2021 financial year is carried
SKAI has planned and realized the improvement of out by PA and PAF registered with OJK.
the quality of human resource skills on a regular
and continuous basis through training & certification PA and PAF have met the requirements to work
based on the Competency Model and Curriculum independently, meet the professional standards of
and Learning Rood Map that have been prepared public accountants and work agreements as well as
according to the needs of the Internal Audit function. the defined audit scope. PA and PAF have submitted
The implementation of the audit plan and audit a Statement of Independence to the Bank dated
results are monitored closely and reported to the September 9, 2021.
Board of Commissioners and the Audit Committee.
The scope of SKAI inspection has covered the 8. The Bank has an organizational structure that
adequacy and effectiveness of the Bank’s control supports the implementation of risk management
system, compliance with internal and external and good internal control, which consists of a Risk
regulations and performance quality. Reports on Management Unit (SKMR), an Internal Audit Unit (SKAI),
the implementation of the Bank’s internal audit a Compliance Unit, a Risk Management Committee,
function are available and disclosed in the Bank’s a Risk Oversight Committee and a Management
Annual Report. The report on the results of the SKAI Committee. Integrated Risk that functions according
examination is complete and objective and is based to their respective duties and responsibilities. Bank
on a careful and impartial analysis. Danamon has regularly updated the organizational
structure. The Bank has a Bank Risk Management
7. Implementation of the external audit function has and Consolidation Policy which regulates the Risk
been adequate with assignments in accordance Management Framework for Banks and Subsidiaries
with the provisions. The appointment of AP and and the Implementation of Risk Management in a
KAP has obtained GMS approval based on the comprehensive manner for each type of risk. This
recommendation of the Audit Committee through policy is also complemented by its derivative policies
the Board of Commissioners. The Annual GMS 30 which are made separately including Credit Risk
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Policy, Operational Risk Management Policy, Market is above the minimum required capital and is able
and Liquidity Risk Management Policy, Business to absorb the potential risk of loss that may arise.
Continuity Monagement Policy, Information Security Through regular meetings of the Risk Management
Policy, Technology Risk Monogement Policy, and Risk Committee and Risk Oversight Committee, the
Appetite Statement Policy. (RACE). Board of Directors and the Board of Commissioners
analyze performance and discuss issues related to
These policies are reviewed periodically so that they risk issues, mitigation mechanisms, potential losses
can be used effectively as a guide in identifying, and follow-up improvements.
measuring, monitoring and controlling risk. In
addition, the Bank has had Risk Appetite in Group 9. The Bank has policies and procedures for providing
and Management, including the reduction of Risk funds to related parties and providing large
Appetite to Line of Business and Subsidiary level. exposures, which are adjusted to the applicable
regulations (if there are changes). The review and
The duties and responsibilities of the Board of revision of this policy/guideline was carried out
Directors and the Board of Commissioners regarding in 2020 to comply with the latest OJK regulations
Risk Management are clearly regulated in the Bank’s regarding the Maximum Lending Limit (LLL) and the
Risk Management and Consolidation Policy. The Provision of Large Funds.
Board of Directors establishes a Risk Management
Committee to assist in carrying out its functions Provision of funds to related parties and the
and responsibilities. However, the Board of Directors provision of large funds are carried out through the
still plays the final responsibility for its role in normal and arms length credit approval process as
monitoring the implementation of risk management. stipulated in the Bank’s credit policy. Provision of
The Board of Commissioners may delegate the funds to related parties must be reviewed by the
risk monitoring function to the Risk Oversight Director of Compliance and obtain approval from
Committee. However, the Board of Commissioners the Board of Commissioners. Provision of funds
still acts as the final person in charge of monitoring is approved by the Board of Directors through the
the implementation of risk management. The main Credit Committee independently and in accordance
role of the Risk Oversight Committee is to monitor, with the limit of authority to decide on credit. There
report, and provide recommendations to the Board are no violations and exceeding the maximum limit
of Commissioners regarding the implementation of of lending to related parties and the provision of large
risk management. funds. Danamon always monitors the maximum
lending limit and diversifies the portfolio of provision
The internal control system in the implementation of of funds by taking into account the condition of
risk management is comprehensive and adequate, Danamon’s capital and applying prudential principles
including through the three-lines of defense and applicable regulations in providing funds. Banks
approach, the establishment of authority to monitor periodically submit reports on Provision of Funds to
policies, procedures and limits, a clear organizational Related Parties properly and in accordance with the
structure, adequate implementation of the four eyes specified deadline.
principle, the implementation of risk awareness and
culture as well as the adequacy of procedures. for 10. Provisions for transparency of financial and non-
compliance with regulations. An internal audit of financial conditions are regulated in the Bank’s
the risk management process is also carried out Governance Guidelines. The Bank always compiles
and improvements to audit findings are monitored. and submits the Governance Implementation
Risk management has been carried out adequately. Report to the OJK which is part of the Bank’s Annual
This is indicated by the Bank’s risk profile which is Report with coverage according to applicable
at the Low to Moderate level. The procedures and regulations. The Bank has an adequate management
implementation of risk management have been information system (SlM), which is supported by
adjusted to the objectives, size and complexity competent human resources and an adequate IT
of the business and the risks faced by the Bank. security system.
Changes in policies and necessary mitigation
actions will be carried out if there are events that The financial statements including the financial/
can cause potential losses for the Bank. Bank capital non-financial conditions of Bank Danamon have
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been published to the Stakeholders. Bank Danamon through easily accessible communication media,
also organizes onalyst briefings on a regular basis including through the Bank’s corporate website.
(quarterly). Bank Danamon always announces The Bank already has guidelines regarding the
financial and non-financial reports on a regular basis preparation of a Summary of Product and/or Service
through the company’s website as well as through Information (RIPLAY) which refers to the RIPLAY
print media and submits financial and non-financial Standard Guidelines for the Financial Services
reports to the OJK in accordance with applicable Sector issued by the OJK. The Bank also applies the
regulations. provisions on the use of customer personal data in
accordance with the provisions.
The Bank already has an Operational Terms of 11. The Bank has a strategic plan in the form of a
Reference for Customer Protection and a Code of Corporate Plan and a Business Plan in accordance
Ethics for Customer Service, while still regulating, with the Bank’s vision and mission. The Bank
among other things, transparency of information routinely carries out the budgeting process that is
and the use of customer personal data, delivery submitted to the OJK in a timely manner. The Bank’s
of product information to customers. The Bank 2022-2024 Business Plan has been prepared by the
conducts a review of marketing documents such Board of Directors and approved by the Board of
as Product Information Details, Advertisements, Commissioners and is fully supported by the owners,
to ensure that the Customer obtains product which is reflected in the owner’s commitment and
and service information in a clear, transparent, efforts to maintain a healthy Bank Danamon capital,
not misleading, and easily accessible manner. In where Bank Danamon’s capital ratio is maintained
improving the quality of service to customers, Bank above the minimum ratio set by the Bank. regulators.
Danamon conducts self-development and training
programs for marketing officers and Hello Danamon The Bank prepares a Business Plan by considering
call center officers. macro and micro conditions, risk appetite,
infrastructure, strategy and taking into account the
The Bank has informed the procedures for complaints principle of prudence as well as being responsive to
and dispute resolution through the Corporate internal and external changes. The Bank’s Business
website. The Bank has a policy for handling customer Plan is prepared by the Board of Directors and has
complaints and a special unit that handles customer been approved by the Board of Commissioners.
complaints as well as facilitating and recording
customer complaints received from branches and The Board of Directors has communicated the
other channels including Hello Danamon through Corporate Plan and Bank Danamon’s Business Plan
the Corporate website. to the Controlling Shareholders. The realization
vs. the Bank’s business plan in 2021 has been
The Annual Report and Report on the communicated to all employees through the
Implementation of Bank Governance have been representation of senior employees every quarter
prepared and submitted in a complete and timely through a meeting forum with employees (leadership
manner to OJK and shareholders with the scope summit). The Bank will communicate the RBB 2022-
and content in accordance with the provisions. The 2024 to senior employees of Bank Danamon through
Governance Implementation Report is prepared a leadership summit in early 2022. The Board of
based on the results of the Bank’s self-assessment Directors consistently implements the business
on the implementation of governance at the Bank plans that have been set. In making the Business
and during the assessment period there were no Plan for 2022-2024, the Bank considers aspects of
revisions to the governance implementation report. the latest macroeconomic conditions.
The results of the Bank’s self-assessment are
attached to the Bank’s Governance Implementation The Board of Commissioners has carried out
Report which is part of the Bank’s Annual Report. supervision on the implementation of the RBB
through Board of Commissioners meetings and/or
In launching new products/services/features, Bank Joint meetings, as well as based on the supervisory
Danamon has conveyed and explained product report of the Board of Commissioners. The owner
information to customers in accordance with OJK has a commitment to support Bank Danamon’s
regulations. The Bank conveys this information strategic plan, among others, through an adequate
299
External Assessment
level of Bank capital. The Bank’s sustainable growth set by the regulator. The Bank has also implemented
is disclosed in the Bank’s Business Plan. the Internal Capital Adequacy Assessment Process
(ICAAP) in managing capital. Based on the internal
The Bank’s strategic plan has been prepared assessment process, the capital adequacy ratio is
comprehensively and takes into account the well above the required level, both internally and as
business opportunities and strengths of the Bank. required by the regulator.
Adequate infrastructure, including HR, IT, office
network, policies and procedures, is a supporting In general, there are no significant problems in the
factor in the preparation of the Bank’s strategic implementation of the GCG principles at Danamon. The
plan. The distribution of the Bank’s profits is carried principles of Good Governance have been applied in a
out through the decision of the General Meeting of comprehensive and structured manner to three aspects
Shareholders (GMS) with regard to capital to support of governance, namely governance structure, governance
the Bank’s strategic plan. process and governance outcome. Assessment of
activities, processes, policies and strategies is carried
The Bank’s capital condition is very good with a capital out on an ongoing basis to achieve optimal processes
adequacy ratio above the minimum requirements and effective control.
EXTERNAL ASSESSMENT
ASEAN Corporate Governance Scorecard to corporate governance guidelines according to
(ASEAN CG Scorecard) exemplary practices based on international standards,
Danamon continues to make improvements in the in particular the principles of corporate governance
application of good governance principles so that it issued by the Organization for Economic Cooperation
is expected to provide added value for all Danamon and Development (OECD).
stakeholders. One of Danamon’s efforts is to use
the ASEAN CG Scorecard as a guide for improving Indonesian Institute For Corporate
the implementation of governance principles in a Directorship (IICD)
sustainable manner. An external assessment of the implementation of
governance has been carried out by IICD on Danamon.
The ASEAN CG Scorecard is one of the initiatives of the IICD has conducted an independent assessment in
ASEAN Capital Market Forum (ASEAN Capital Market which Danamon is one of the nominees and the Top
Forum) in the context of capital market integration 50 Issuers with the largest market capitalization (BigCap
of member countries of the Association of Southeast PLCs) from the IICD CG award.
Asian Nations (ASEAN). The implementation of the
ASEAN CG Scorecard has been started since 2011. The
ASEAN CG Scorecard is a quantitative tool to measure
the compliance of publicly listed companies in ASEAN
300
Awards For Implementing Corporate Governance
Economic Review together with Indonesia - VI-2021 event, Danamon is considered to have been able
Asia Institute, PPPI and Ideku Group to apply the principles of good corporate governance
Based on the results of the external assessment, the with applicable regulations.
Economic Review together with the Indonesia - Asia
Institute, PPPI and Ideku Group, at the GCG Award-
AWARDS FOR IMPLEMENTING

CORPORATE GOVERNANCE
3rd. The Best – Indonesia GCG Award - VI - 2021 considered to have been able to apply the principles of
Category : Public Company - Bank BUKU IV good corporate governance with applicable regulations.
Danamon managed to become one of the companies
that received an award at the Indonesia GCG Award VI The 12th IICD Corporate Governance Award
– 2021 (IGCGA-VI-2021) category Public Company - Bank Danamon is one of the nominees and the Top 50 Issuers
BUKU IV. The event was held in Zoominar due to the with the largest market capitalization (BigCap PLCs) from
Covid-19 Pandemic situation on February 5, 2021, which the IICD CG award. The 12th IICD Corporate Governance
was held by the Economic Review together with the Award is an annual event to give appreciation to public
Indonesia - Asia Institute, PPPI and Ideku Group, with companies with the best GCG practices. The award will
the theme “Standardization of the Implementation of be held on May 31, 2021 at the Financial Hall (2nd floor)
Sustainable GCG After the Pandemic Covid -19” . This of CIMB Niaga, Sudirman Jakarta.
award is given as an appreciation to companies that are
DANAMON’S CORPORATE
GOVERNANCE
IMPLEMENTATION REPORT
The Danamon Governance Implementation Report best practices of universally applicable governance
covers all aspects of the implementation of corporate implementation. The issuance of the report on the
governance in Danamon which is prepared with implementation of Danamon’s governance is part of
reference to the applicable laws and regulations and the responsibility for implementing the principle of
301
GENERAL MEETING OF
SHAREHOLDERS
The General Meeting of Shareholders (GMS) is the SHAREHOLDERS
highest organ in Danamon’s corporate governance
which is a forum for shareholders to make decisions by Shareholders are owners of capital whose names are
taking into account the articles of association and laws registered as shareholders in the Danamon’s shareholder
and regulations. Decisions taken at the GMS are based register. Danamon’s authorized capital is divided into
on the interests of the Bank, and are carried out fairly 22,400,000 Series A shares with voting rights, each
and transparently. with a nominal value of Rp. 50,000.00 per share and
17,760,000,000 Series B shares with voting rights, each
The GMS in the company consists of the Annual GMS with a nominal value of Rp. 500,00 per share. Of the
and Other GMS (Extraordinary GMS) as follows: authorized capital, 9,773,552,870 shares have been
1. Annual GMS (AGMS) issued by shareholders, consisting of 22,400,000 series
a. The Annual GMS (AGM) must be held by the A shares and 9,751,152,870 series B shares. Shareholders
Board of Directors once a year, no later than are series A shareholders and series B shareholders and
June as referred to in the laws and regulations all shares issued by Danamon is a share in the name.
preceded by the Announcement and Invitation
to the GMS; Rights and Authorities of Shareholders
b. The Board of Directors submits the Annual Report Danamon does not divide shares into special types
to the GMS after being reviewed by the Board of of shares or ordinary shares. Shareholders have equal
Commissioners with the scope as stipulated in rights and obligations. Shareholders can participate in
the Danamon’s Articles of Association; the management of the company through the GMS. The
c. The Annual GMS decides on the agenda or GMS can be held at the request of the shareholders by
matters that have been proposed in accordance first meeting the requirements set out in the Danamon’s
with the provisions of laws and regulations and Articles of Association.
Danamon’s Articles of Association. Shareholders have the right to participate in making
2. Extraordinary GMS (EGMS LB) decisions related to changes to the Articles of Association
a. The Extraordinary GMS (EGMS) is convened by and other fundamental changes regarding the company,
the Board of Directors at any time based on the the right to participate effectively and use votes in the
need for the benefit of Danamon as referred to in GMS, as well as the right to obtain information regarding
the laws and regulations and Danamon’s Articles the GMS including the agenda/agenda, rules and
of Association, preceded by the Announcement regulations. voting procedures.
and Invitation to the GMS; Danamon protects the rights of shareholders and
b. In the Extraordinary GMS, the proposed agenda facilitates the implementation of the basic rights of
may be decided in accordance with the shareholders. The basic rights of shareholders, among
provisions of the Articles of Association and the others:
applicable laws and regulations.
1. Attend and vote in the GMS;
Legal Basis for Implementation of GMS 2. Obtain relevant and material information about
The GMS held by Danamon is carried out with reference Danamon in a timely and regular manner;
to Law no. 40 of 2007 concerning Limited Liability 3. Obtain the method of registration of ownership;
Companies, POJK No.15/POJK.04/2020 concerning Plans 4. Transferring or transferring shares;
and Organizing of Public Company GMS and POJK No.16/ 5. Appoint and dismiss the Board of Directors and the
POJK.04/2020 concerning Electronic Implementation of Board of Commissioners;
Public Company GMS, Danamon’s Articles of Association 6. Get a share in Danamon’s profits; and
and Governance Guidelines Danamon. 7. To exercise other rights and authorities based on
Danamon’s Articles of Association and laws and
regulations.
302
General Meeting Of Shareholders
The full rights and authorities of shareholders are Mechanism of Voting and Counting in the
regulated in Danamon’s Articles of Association which GMS
can be accessed through the Danamon website (www. Danamon compiles and prepares the Rules of the GMS.
danamon.co.id). The rules of the GMS are disclosed on the Danamon
website, submitted and read out at the beginning of the
Restrictions for Shareholders GMS. The rules of the GMS contain procedures for voting
1. Shareholders are not allowed to intervene in the and procedures for counting votes. Prior to the voting,
implementation of Danamon’s operations and the the chairman of the meeting will provide the opportunity
Board of Directors and Commissioners must refuse for the shareholders or their proxies to ask questions
such intervention. and/or opinions and have the right to ask questions and/
2. The controlling shareholder can coordinate in the or submit opinions to the chairman of the GMS before
preparation of business strategies, corporate plans voting is held for each GMS agenda.
and business plans.
3. Supervision by the controlling shareholder can Decision making in the GMS is carried out as follows:
only be carried out through the GMS or policy 1. GMS decisions are taken based on deliberation
coordination and conduct audits in accordance with for consensus. In the event that a decision based
the applicable laws and regulations. on deliberation for consensus is not reached, the
4. The controlling shareholder must avoid any conflict decision is taken by voting.
of interest. 2. Decision-making through voting must be carried
5. The controlling shareholder is prohibited from out with due observance of the provisions of the
abusing the domination of share ownership or control quorum of attendance and quorum of decisions of
which may result in a violation of the principles of the GMS as stipulated in the Danamon’s Articles of
corporate governance. Association.
6. The Board of Commissioners and the Board of 3. In voting, the votes cast by the shareholders are valid
Directors must reject requests for information for all the shares they own and the shareholders are
regarding Danamon from the controlling shareholder not entitled to give power of attorney to more than
that are not in accordance with the principles of one proxy for a portion of the number of shares they
fairness and equality. own with different votes.
7. Shareholders are prohibited from using Danamon 4. In counting votes, 1 (one) share entitles its holder to
for their personal, family, company or business group cast 1 (one) vote, if a shareholder has more than 1
interests in a spirit and manner that is contrary (one) share, the person concerned is asked to cast
to the laws and regulations and the principles of 1 (one) vote only and it represents the total number
fairness that commonly apply in the banking and of shares it owns based on the voting card it has
financial sector. received.
5. In voting, members of the Board of Commissioners,
Access to Shareholder Information members of the Board of Directors, and employees
Shareholders can obtain information about Danamon of Danamon are prohibited from acting as proxies of
through various communication media that have been shareholders.
facilitated by Danamon, including through the GMS, 6. In the event that there is a GMS decision related to
performance presentations, analyst briefings, website the distribution of cash dividends, the payment of
and email access to Investor Relations (investor. cash dividends to the entitled shareholders is no
[email protected]) and Corporate Secretary. later than 30 (thirty) days after the announcement
([email protected]). of the summary of the minutes of the GMS that
decides on the distribution of cash dividends.
303
2021 GENERAL MEETING OF SHAREHOLDERS POJK.04/2020 concerning the Plan and Organizing of
the Public Company GMS and POJK No.16/POJK.04/2020
AGMS and EGMS concerning the Implementation of a Public Company
In 2021, Danamon has held 1 (one) Annual General GMS. Electronic.
Meeting of Shareholders (“AGMS”) and 1 (one)
Extraordinary General Meeting of Shareholders (“EGMS”). AGMS April 30, 2021
The mechanism for organizing the 2021 AGMS and Danamon held the AGMS on April 30, 2021.
EGMS is carried out in accordance with the provisions The process of holding the AGMS on 30 April 2021 is as
in the Bank’s Articles of Association, POJK No.15/ follows:
Date and Time Friday, April 30, 2021

AGMS started at 09.30 WIB, ended at 10.41 WIB
Place Menara Bank Danamon, Auditorium, Lantai 23, Jl. HR. Rasuna Said, Blok C No. 10,
Karet Setiabudi, Jakarta 12920
Quorum In accordance with the Company’s Register of Shareholders as of April 7, 2021, the
(Shareholders Attendance) number of entitled Shares is 9,773,552,870 shares. The number of shares with voting
rights that were present or represented at the AGMS was 9,170,934,612 shares or
93.83% of the total shares with valid voting rights issued by the Company. Thus,
it has fulfilled the requirements for the decision-making quorum for the AGMS
agenda (which is more than 2/3 of the total shares with valid voting rights that have
been issued by the Company. Therefore, the Meeting is valid to convene and make
decisions.
AGMS Chairman The AGMS was chaired by Johanes Berchmans Kristiadi Pudjosukanto, Deputy
President Commissioner (Independent) of Danamon, in accordance with Danamon’s
Articles of Association and Circular Resolutions of the Board of Commissioners’
Resolutions.
Board of Commissioners The Board of Commissioners who are physically present:
attendance Johanes Berchmans Kristiadi Pudjosukanto, Deputy President Commissioner
(Independent)
The Board of Commissioners who attended through the Webex application

1. Takayoshi Futae, President Commissioner
2. Made Sukada, Commissioner (Independent)
3. Peter Benjamin Stock Commissioner (Independent)
4. Masamichi Yasuda, Commissioner
5. Noriaki Goto, Commissioner
6. Nobuya Kawasaki, Commissioner
7. Hedy Maria Helena Lapian, Commissioner (Independent)
Sharia Supervisory Board Sharia Supervisory Board attended through the Webex application:
Attendance 1. Prof. DR. HM Din Syamsuddin, Chairman
2. Dr. Hasanudin, M. Ag., Member
3. Dr. Asep Supyadillah, M. Ag., Member
Audit Committee The Audit Committee present through the Webex application:
Attendance 1. Peter Benjamin Stok, Chairman
2. Mawar IR Napitupulu, Member (Independent Party)
3. Zainal Abidin, Member (Independent Party)
Audit Committee physically attendance:

Johanes Berchmans Kristiadi Pudjosukanto, Member
Presence of the Chair of the
Johanes Berchmans Kristiadi Pudjosukanto as Chairman of the Nomination
Nomination Committee and
Committee and Chairman of the Remuneration Committee was physically present.
304
Presence of the Chair of the Made Sukada as Chair of the Risk Oversight Committee attended the Webex
Risk Oversight Committee application.
Board of Directors Presence Directors who are physically present:
1. Yasushi Itagaki, Managing Director
2. Rita Mirasari, Director
3. Muljono Tjandra, Director
4. Michellina Laksmi Triwardhany, Deputy President Director
Directors who attended through the Webex application:

1. Honggo Widjojo Kangmasto, Deputy President Director
2. Herry Hykmanto, Director
3. Heriyanto Agung Putra, Director
4. Dadi Budiana, Director
5. Naoki Mizoguchi, Director
6. Adnan Qayum Khan, Director
Attendance of Director of
Rita Mirasari as Compliance Director was present.
Compliance
Independent Party to
The Company has appointed Mala Mukti, S.H., LL.M. as a Public Notary and PT
calculate the quorum and
Adimitra Jasa Korpora as the Securities Administration Bureau to calculate the
vote on the resolutions of
quorum and vote.
the AGMS
Number of Shareholders
There were no Shareholders who asked questions and/or gave opinions at the
who asked questions and/or
AGMS.
gave opinions at the AGMS
AGMS and EGMS decision- 1. Meeting decisions are taken based on deliberation for consensus.
making mechanisms 2. In the event that a decision based on deliberation for consensus is not reached,
the decision is valid if it is approved for the entire agenda of the AGMS, by more
than 2/3 (two thirds) of the total shares with voting rights who are present and/
or represented at the AGMS;
3. ABSTAIN votes are deemed to have cast the same votes as the majority of
shareholders who cast votes.
In relation to the holding of the GMS, Danamon’s Board website, KSEI website and the Company’s website;
of Directors has made the following disclosures: d. Upload an explanation of the Meeting agenda, profiles
a. Notification of the AGMS plan and agenda to the of Public Accountants and Public Accounting Firms,
Financial Services Authority (“OJK”) has been made profiles of candidates for members of the Board of
on March 2, 2021; Commissioners, meeting rules and other meeting
b. Announcement to shareholders regarding the AGMS materials on the Company’s website.
to be held on March 9, 2021 by uploading it on the
website of the Indonesia Stock Exchange (“Stock
Exchange”), the website of PT Kustodian Sentral
Efek Indonesia (“KSEI”) and the Company’s website,
namely www.danamon. co.id;
c. Invitation to Shareholders regarding the AGMS has
been made on March 24, 2021 and the summons on
April 8, 2021 by uploading it on the Stock Exchange
305
AGMS DECISION AND REALIZATION APRIL 30, 2021 items for the Meeting. All resolutions of the Meeting have
The AGMS on April 30, 2021 has decided on 6 (six) agenda been realized in 2021, as listed below:
Agenda, resolutions and realization of AGMS resolutions April 30, 2021

AGMS – First Agenda
Approved the Company’s annual report for the financial year ending 31 December 2020; To ratify the Company’s financial
statements for the financial year ended 31 December 2020 which have been audited by the Public Accounting Firm
of Tanudiredja, Wibisana, Rintis & Rekan (a member firm of the PwC global network) as contained in the Independent
Auditor’s Report, dated 11 February 2021, Number 00038/ 2.1025/AU.1/07/0229-1/1/II/2021 with an unmodified opinion;
Ratify the report on the supervisory duties of the Company’s Board of Commissioners for the financial year ending
December 31, 2020; and Provide full release and discharge of responsibilities (“volledig acquit et décharge”) to: (i) the
Board of Directors of the Company in carrying out their duties and responsibilities for the management as well as the
duties and responsibilities of representing the Company; (ii) the Company’s Board of Commissioners in carrying out their
supervisory duties and responsibilities as well as their duties and responsibilities in providing advice to the Company’s
Directors, assisting the Company’s Directors, and giving approval to the Company’s Directors; and (iii) the Sharia
Supervisory Board in carrying out the duties and responsibilities of supervising the sharia aspects of the implementation
of the Company’s business activities in accordance with sharia principles as well as providing advice and suggestions to
the Company’s Directors, which is carried out in the financial year ending on December 31, 2020, to the extent that The
implementation of these duties and responsibilities is reflected in the Company’s Annual Report for the financial year
ending December 31, 2020.
Total Majority Votes : 9,170,934,612 shares or 100% (agree)

Voting result Abstain Disagree Agree
2,038,198 shares or 0.02% 0 share or 0% 9,168,896,414 shares or 99.98%
AGMS – Second Agenda

Approved the use of the Company’s net profit for the financial year ending 31 December 2020 amounting to
Rp1,007,614,000,000.00 (one trillion seven billion six hundred fourteen million rupiah), with details as follows:
1. 1% of Net Profit or approximately Rp. 10,076,140,000.00 (ten billion seventy six million one hundred and forty
thousand rupiah) set aside for reserve funds to comply with Article 70 of the Limited Liability Company Law;
2. 35% of Net Profit or approximately Rp.352,664,900,000.00 (three hundred fifty-two billion six hundred sixty-four
million nine hundred thousand rupiah) or Rp.36.08 (thirty-six point zero eight rupiah) per shares (assuming the
number of shares issued by the Company on the Listing Date is not more than 9,773,552,870 (nine billion seven
hundred seventy three million five hundred fifty two thousand eight hundred seventy) shares, paid as dividends
for the financial year 2020, with the following conditions: following:
a. Dividends will be paid to shareholders whose names are recorded in the Register of Shareholders on a date
to be determined by the Company’s Board of Directors (hereinafter referred to as the “Listing Date”);
b. Dividends that are not taken after 5 (five) years from the date stipulated for past dividend payments are
included in the Special Reserve fund. The procedure for taking dividends in the Special Reserves can be
accessed on the Company’s website;
c. The Board of Directors will deduct dividend tax for the 2020 financial year in accordance with the tax
regulations applicable to shareholders;
d. The Board of Directors is hereby given the power and authority to determine matters relating to or related
to the payment of dividends for the 2020 financial year, including (but not limited to:
• determine the recording date to determine the shareholders of the Company who are entitled to receive
dividend payments for the 2020 financial year; and
• determine the date of payment of dividends for the 2020 financial year, and everything without prejudice
to compliance with the regulations of the Stock Exchange where the Company’s shares are listed.
3. The remaining unappropriated use of net profit for the financial year 2020 is recorded as the Company’s retained
earnings.

0 share or 0.00% 0 share or 0% 9,170,934,612 shares or 100%
306
AGMS – Third Agenda

Appointed Elisabeth Imelda as Public Accountant and Imelda & Partners (a member firm of the Deloitte Touche Tohmatsu
Limited) network as a Public Accountant Firm registered with the Financial Services Authority to audit the Company’s
consolidated financial statements for the 2021 financial year and authorize the Board of Commissioners to determine
the amount of honorarium and other requirements in relation to the appointment of the Public Accountant and the
Public Accounting Firm, taking into account the recommendations of the Audit Committee.

2,038,198 Shares or 0.02% 0 share or 0% 9,168,896,414 shares or 99.98%
AGMS – Fourth AGenda

1. a. approve the total payment of bonuses/tantiem to be distributed to the Board of Commissioners for the financial year 2020;
b. approve the determination of the total salary/honorarium and/or allowances for the Board of Commissioners for the
2021 financial year of a maximum of Rp. 16,834,707,632.00 (sixteen billion eight hundred thirty-four million seven hundred
seven thousand six hundred and thirty-two rupiah) gross; and
c. approve the granting of power of attorney to the Company’s President Commissioner to determine the amount of bonus/
tantiem during the 2020 financial year for each member of the Board of Commissioners based on the recommendation
of the Remuneration Committee.
2. a. approve the total payment of bonuses/tantiem to be distributed to the Sharia Supervisory Board for the 2020 financial year;
b. approve the determination of the total salary/honorarium and allowances for the Sharia Supervisory Board
for the 2021 financial year at a maximum of Rp.764,639,964.00 (seven hundred sixty-four million six hundred
thirty-nine thousand nine hundred and sixty-four rupiahs) gross; and
c. approved the granting of power of attorney to the Board of Commissioners of the Company to determine the
amount of bonus/tantiem during the financial year 2020 for each member of the Sharia Supervisory Board
based on the recommendation of the Remuneration Committee.
3. a. approve the total payment of bonuses/tantieme to be distributed to the Board of Directors for the 2020 financial year;
b. approve the determination of the total salary and allowances and/or other income for the Board of Directors of
the Company for the fiscal year 2021 at a maximum of Rp.57,745,625,913.00 (fifty-seven billion seven hundred
forty-five million six hundred twenty-five thousand nine hundred thirteen rupiah) gross; and
c. approve the granting of power of attorney to the Board of Commissioners of the Company to determine the
amount of bonus/tantieme during the financial year 2020 for each member of the Board of Directors based on
the recommendation of the Remuneration Committee.
Total Majority Votes : 9,164,348,487 shares or 99.93% (Agree)

0 share or 0% 6,586,125 share or 0.07% 9,164,348,487 shares or 99.93%
307
AGMS – Fifth Agenda

1. To honorably dismiss Mr. Masamichi Yasuda and Mr. Noriaki Goto from their respective positions as Commissioner of
the Company and Mr. Made Sukada as Independent Commissioner of the Company, effective as of the closing of this
AGMS with gratitude for the services that have been provided to the Company;
2. Agree to lift:
a. Mr. Takanori Sazaki as Commissioner;
b. Mr. Dan Harsono as Commissioner
Where the appointment of Mr. Takanori Sazaki as Commissioner and Mr. Dan Harsono as Commissioner of the
Company is effective as of the date of passing the fit and proper test from the Financial Services Authority for a term
of office in accordance with the remaining terms of office of members of the Board of Commissioners and Board of
Directors of the Company who are currently serving. currently serving.
Accordingly, the composition of the Company’s Board of Commissioners, Board of Directors and Sharia Supervisory Board
is as follows:
Board of Commissioner
President Commissioner : Takayoshi Futae
Vice PResiden Commissioner (Independent) : Johanes Berchmans Kristiadi Pudjosukanto
Commissioner (Independent) : Peter Benyamin Stok
Commissioner : Nobuya Kawasaki
Commissioner (Independent) : Hedy Maria Helena Lapian
Commissioner : Takanori Sazaki*
Commissioner : Dan Harsono*
Board of Directors
President Director : Yasushi Itagaki
Vice President Director : Michellina Laksmi Triwardhany
Vice President Director : Honggo Widjojo Kangmasto
Director : Herry Hykmanto
Director : Adnan Qayum Khan
Director : Rita Mirasari
Director : Heriyanto Agung Putra
Director : Dadi Budiana
Director : Muljono Tjandra
Director : Naoki Mizoguchi
Sharia Supervisory Board

Chairman : Prof. Dr. H.M. Din Syamsuddin
Member : Dr. Hasanudin, M.Ag.
Member : Dr. Asep Supyadillah, M.Ag.
* Effective from the date of passing the fit and proper test from the Financial Services Authority.
for the term of office until the closing of the AGMS of the Company for the financial year ending on December 31,
2022 which will be held no later than June 2023, without prejudice to the right of the GMS to dismiss at any time.
Approved to authorize the Company’s Board of Directors to declare these decisions in one or more deed of AGMS
resolutions made before a notary, notify the change in Company data to the Minister of Law and Human Rights of
the Republic of Indonesia to obtain a letter of receipt of notification of changes to the Company’s data.

97,404,010 shares or
3,319,600 shares or 0.04% 9,070,211,002 shares or 98.90%
1.06%
308
AGMS – Sixth Agenda

Approved the Replacement of Action Plan Documents 2020-2021 to comply with article 31 paragraph 2 of OJK
Regulation No.14/POJK.03/2017 concerning Recovery Plans for Systemic Banks.

0 saham 5,082,500 shares or 0.06% 9,165,852,112 shares or 99.94%
EGMS 26 August 2021
Danamon held an EGMS on 26 August 2021. The process for holding the EGMS on 26 August 2021 is as follows:
Date and Time Thursday, Augsut 26 2021
EGMS started at 14.22 WIB ended at 14.40WIB
Place Menara Bank Danamon, Auditorium, Lantai 23, Jl. HR. Rasuna Said, Blok
C No. 10, Karet Setiabudi, Jakarta Selatan 12920.
Quorum In accordance with the Company’s Register of Shareholders as of
August 3, 2021, the number of shares with voting rights is 9,773,552,870
shares. The number of shareholders with voting rights who attend or
are represented at the Meeting, both physically and through eASY.KSEI
is 9,141,223,370 shares or 93.53% of the total shares with valid voting
rights that have been issued by the Company. Thus, the meeting quorum
requirements and decision-making for the agenda of the Meeting have
been met (that is, by more than 2/3 of the total shares with valid voting
rights that have been issued by the Company). Therefore, the Meeting is
legal to hold and make decisions.
EGMS Chairman The EGMS was chaired by Johanes Berchmans Kristiadi Pudjosukanto,
Deputy President Commissioner (Independent) of Danamon, in
accordance with Danamon’s Articles of Association and the Circular
Resolutions of the Board of Commissioners.
Attendance of the Board of Members of the Board of Commissioners who are physically present:
Commissioners Johanes Berchmans Kristiadi Pudjosukanto, Deputy President
Commissioner (Independent)
Members of the Board of Commissioners who attended through the

Webex application and eASY.KSEI:
1. Takayoshi Futae, President Commissioner
2. Nobuya Kawasaki, Commissioner
3. Peter Benjamin Stok, Commissioner (Independent)
4. Hedy Maria Helena Lapian, Commissioner (Independent)
5. Takanori Sazaki, Commissioner
6. Dan Harsono, Commissioner
Sharia Supervisory Board Presence Sharia Supervisory Board that attended through the Webex application
and eASY.KSEI:
1. Prof. DR. HM Din Syamsuddin, Chairman
2. Dr. Hasanudin, M. Ag., Member
3. Dr. Asep Supyadillah, M. Ag., Member
Audit Committee Attendance The Audit Committee who attended through the Webex application and
eASY.KSEI:
1. Peter Benjamin Stok, Chairman
2. Mawar IR Napitupulu, Member (Independent Party)
3. Zainal Abidin, Member (Independent Party)
Audit Committee physically present:

1. Johanes Berchmans Kristiadi Pudjosukanto, Member
309
Presence of the Chair of the Nomination Johanes Berchmans Kristiadi Pudjosukanto as Chairman of the
Committee and the Committee Nomination Committee and Chairman of the Remuneration Committee
Remuneration was physically present.
Presence of the Chair of the Risk Hedy Maria Helena Lapian is present through the Webex and Easy.KSEI
Oversight Committee applications.
Board of Directors Presence Directors who are physically present:
1. Yasushi Itagaki, Managing Director
2. Rita Mirasari, Director
Directors who attended through the Webex and eASY.KSEI applications:

1. Michellina Laksmi Triwardhany, Deputy President Director
2. Honggo Widjojo Kangmasto, Deputy President Director
3. Herry Hykmanto, Director
4. Heriyanto Agung Putra, Director
5. Dadi Budiana, Director
6. Muljono Tjandra, Director
7. Naoki Mizoguchi, Director
Attendance Director of Compliance Rita Mirasari is physically present
Independent Party to calculate the Danamon has appointed Mala Mukti, S.H., LL.M. as Notary and PT
Quorum and vote on the resolutions of Adimitra Jasa Korpora as Securities Administration Bureau to calculate
the EGMS quorum and vote.
Number of Shareholders who ask
There is 1 shareholder who asked a question through the eASY.KSEI
questions and/or provide opinions at the
application
EGMS
EGMS decision-making mechanism 1. Meeting decisions are taken based on deliberation for consensus.
2. In the event that a decision based on deliberation for consensus is
not reached, the decision is taken by voting, namely based on the
affirmative vote by more than 2/3 (two thirds) of the total shares with
voting rights who are present and/or represented at the Meeting;
3. ABSTAIN votes are deemed to have cast the same votes as the
majority of shareholders who cast votes.
In relations with the EGMS 26 August 2021 convention, 4. Information disclosures to the OJK, Indonesia
the Board of Directors has carried out transparency Stock Exchange, and the Company websites on the
disclosures as follows: resignation of Adnan Qayum Khan as Director, and
1. Notification of the Meeting plan and agenda to the Michellina Laksmi Triwardhany as Vice President
Financial Services Authority (“OJK”) dated 12 July Director, effective as of 11 June 2021 and 3 August
2021; 2021; and
2. Announcement to the shareholders on the Meeting 5. Took the Independent Commissioner profile and
that can be taken from the Indonesia Stock other Meeting materials in the Company website.
Exchange website, through the PT Kustodian Sentral
Efek Indonesia (“KSEI”) and the Company’s website, DECISION AND REALIZATION RESULTS OF EGMS 26
www.danamon.co.id dated 19 July 2021; AUGUST 2021
3. Invitation of the Meeting to the shareholders was The EGMS of 26 August 2021 has taken the decision of
carried out on 4 August 2021 that can be taken agenda. All meeting results have been achieved in 2021,
from the Indonesia Stock Exchange, KSEI and the as described below:
Company websites;
310
Agenda, resolutions and realisation of EGMS 26 August 2021

EGMS - First Agenda
1. a. Agree to appoint Mr. Dr. Halim Alamsyah as Independent Commissioner where the appointment of Mr.
Dr. Halim Alamsyah as the Company’s Independent Commissioner is effective as of the date of passing the fit and
proper test from the Financial Services Authority for a term of office in accordance with the remaining terms of
office of the current members of the Board of Commissioners and Board of Directors of the Company.
b. Welcoming the resignation of Mrs. Michellina Laksmi Triwardhany from her position as Deputy President Director
of the Company which will be effective as of September 4, 2021 and Mr. Adnan Qayum Khan from her position as
Director of the Company effective July 24, 2021 with gratitude for the services that have been rendered. given to
the Company. The granting of settlement and responsibility (volledig acquit et decharge) to Ms. Michellina Laksmi
Triwardhany and Mr. Adnan Qayum Khan will be decided at the Annual General Meeting of Shareholders which will
discuss the Company’s financial statements for the financial year ending 31 December 2021.
Thus: The composition of the Company’s Board of Commissioners which is effective as of the date of passing the fit
and proper test from the Financial Services Authority of each Mr. Takanori Sazaki, Mr. Dan Harsono and Mr. Dr. Halim
Alamsyah, are as follows:
President Commisioner : Takayoshi Futae
Vice President Commissioner (Independent) : Johanes Berchmans Kristiadi Pudjosukanto
Commssioner (Independent) : Peter Benyamin Stok
Commssioner : Nobuya Kawasaki
Commssioner (Independent) : Hedy Maria Helena Lapian
Commssioner : Takanori Sazaki*
Commssioner Commssioner (Independent) : Dan Harsono*
Komisaris (Independen) Halim Alamsyah *
Board of Directors
President Director : Yasushi Itagaki
Vice President Director : Honggo Widjojo Kangmasto
Director : Herry Hykmanto
Director : Rita Mirasari
Director : Heriyanto Agung Putra
Director : Dadi Budiana
Director : Muljono Tjandra
Director : Naoki Mizoguchi
*) effective from the date of passing the fit and proper test from OJK
for a term of office until the closing of the Company’s Annual GMS for the financial year ending on 31 December 2022
without prejudice to the right of the GMS to dismiss them at any time.
2. Approved to authorize the Board of Directors of the Company to declare these decisions in one or more deed of
meeting decisions made before a notary, notify the change in Company data to the Minister of Law and Human Rights
of the Republic of Indonesia to obtain a letter of receipt of notification of changes to the Company’s data.
Total Majority Votes: 9,139,902,745 shares or 99.985553082% (agree)
Voting result
Abstain Disagree Agree
6,800 shares or 1,320,625 shares or 9,139,895,945 shares or
0.000074388% 0.014446917% 99.985478694%
All resolutions of the AGMS and EGMS in 2021 have been realized in the same year.
311
BOARD OF
COMMISSIONERS
The Board of Commissioners is a Danamon organ whose of Shareholders.
collective duty and responsibility are to supervise and c. It is prohibited, directly or indirectly, to create false
provide advice to the Board of Directors and to ensure statements regarding material facts or not to disclose
that the company has implemented the principles of good material facts, hence, the statements produced are
corporate governance. The working relationship between not misleading regarding the condition of Danamon
the Board of Commissioners and the Board of Directors is at the time the statement was constructed.
a checks and balances-relationship with the principle that d. In conducting supervision, it is prohibited to interfere
both organs possess an equal position and the ultimate in the company’s operational decision-making
goal of progress and the health of the company. except for the provision of funds to related parties
and other matters stipulated in Danamon’s Articles
Members of the Board of Commissioners are appointed of Association.
and dismissed by the GMS based on a transparent process
and taking into consideration the recommendations of Duties and Responsibilities of the Board of
the Nomination Committee. They are also appointed for Commissioners
a tenure of 3 (three) years per the Articles of Association 1. The Board of Commissioners is subject to work ethics
and may be reappointed. (code of conduct), applicable laws and regulations, and
Danamon’s internal regulations and policies.
The appointment of members of the Board of 2. The Board of Commissioners is required to perform
Commissioners is declared effective after being its duties and responsibilities independently. In
affirmed to have passed the Fit and Proper test from fulfilling the duties, the Board of Commissioners
the Financial Services Authority. Members of the Board must provide sufficient time and responsibilities
of Commissioners can be dismissed by the GMS optimally.
although their tenure has not ended. The dismissal is 3. Ensuring the implementation of good corporate
conducted based on reasonable reasons and after the governance in all Danamon business activities at all
members of the Board of Commissioners are provided levels of the organization.
the opportunity to defend themselves. 4. In conducting supervision, the Board of Commissioners
is obligated to direct, monitor, and evaluate the
Board of Commissioners’ Work Guidelines implementation of Danamon’s strategic policies.
and Code of Conduct 5. The Board of Commissioners may not be involved
The Board of Commissioners has the Board of in making decisions on Danamon’s operational
Commissioners’ Guidelines and Work Rules which activities, except:
regulate, among others, the structure and membership, • in terms of disbursing funds to related parties;
independent commissioners, tenure, duties, and • other matters stipulated in Danamon’s Articles of
responsibilities of the Board of Commissioners, duties, Association and the prevailing laws and regulations.
and responsibilities of the President Commissioner, 6. The Board of Commissioners is obliged to review
authority, work ethics, meetings, and their Danamon’s vision and mission regularly.
implementation, transparency, and reporting. The Work 7. To support the effectiveness of the implementation
Guidelines and Code of Conduct are formulated by the of the duties and responsibilities, the Board of
applicable regulations, governance principles, as well as Commissioners establishes:
best practices for the implementation of good corporate • Audit Committee
governance and, are reviewed regularly. • Risk Oversight Committee
• Remuneration Committee
Board of Commissioners Work Ethics • Nomination Committee
a. It is prohibited to take advantage of Danamon for • Corporate Governance Committee
personal, family, and/or other parties’ interests which • Integrated Corporate Governance Committee
may injure or reduce the profits and reputation of 8. The Board of Commissioners is required to evaluate
Danamon and its subsidiaries. the performance of the committee annually.
b. It is prohibited to take and/or receive personal 9. Members of the Board of Commissioners agree to
benefits from Danamon other than the remuneration serve as members or as chairman in one of the above
and other facilities stipulated in the General Meeting committees as recommended by the Nomination
312
Board Of Commissioners
Committee. The Board of Commissioners must Duties and Responsibilities of the President
ensure that the above committees conduct their Commissioner
duties effectively. Performing the function of coordinating the
10. The Board of Commissioners is required to ensure that implementation of the duties and responsibilities of the
the Board of Directors has followed up on audit findings Board of Commissioners, encompassing:
and recommendations from the Danamon Internal Audit a. receiving reports from Committees under the Board
Unit, external auditors, the results of the supervision of of Commissioners.
the Financial Services Authority/Bank Indonesia, and/or b. leading the Board of Commissioners in conducting
the results of the supervision of other authorities. supervisory and assurance duties, determining the urgency
11. The Board of Commissioners is required to provide of the meeting invitation if the Board of Commissioners
recommendations for improvements or suggestions meeting is organized in less than 5 (five) days.
submitted by the Audit Committee, then, submit the c. receiving power of attorney from the GMS to
recommendations to the Board of Directors. distribute bonuses to members of the Board of
12. The Board of Commissioners is required to Commissioners.
maintain the confidentiality of all Danamon
documents, data, and information. Authority of the Board of Commissioners
13. The Board of Commissioners is obligated to forewarn Authority of The Board of Commissioners is regulated
the Financial Services Authority no later than 7 in the Articles of Association, Governance Policy, as
(seven) working days after the discovery of: well as the Guidelines and Work Rules of the Board of
• violation of laws and regulations in the field of Commissioners, including the following:
finance and banking; and a. accessing documents, data, and information about
• circumstances or estimates of circumstances that Danamon’s employees, funds, assets, and resources
can jeopardize Danamon’s business continuity. as deemed necessary,
14. The Board of Commissioners is required to monitor b. communicating directly with the Board of Directors,
and evaluate the information technology strategic plan, employees, and other parties concerning the
encompassing reviewing the risk management policies implementation of their duties and responsibilities,
and procedures for the use of information technology c. involving independent parties other than members of
by Danamon as proposed by the Board of Directors. the Board of Commissioners to assist in performing
15. The Board of Commissioners is required to prepare their duties, if necessary,
guidelines and work procedures (charter) for the d. conducting other authorities provided by Danamon’s
Board of Commissioners, review and update the Articles of Association and applicable laws and
guidelines and work procedures regularly. regulations.
16. Members of the Board of Commissioners are
required to enhance the competence through
continuous education and training.
Number, Composition, Criteria, Independence, and Multiple Positions of Members of the Board of
Commissioners
The composition of the Board of Commissioners is as follows:

Total Composition and Criteria for the Board of Commissioners
Nr. Name Position
1 Takayoshi Futae President Commissioner
2 J.B. Kristiadi Vice President Commissioner (Independent)
3 Peter Benyamin Stok Commissioner (Independent)
4 Nobuya Kawasaki Commissioner
5 Hedy Maria Helena Lapian Commissioner (Independent)
6 Takanori Sazaki Commissioner
7 Dan Harsono Commissioner
8 Halim Alamsyah Commissioner (Independent)
All members of the Company’s Board of Commissioners have passed the fit and proper test from the OJK.
313
The number of members of the Board of Commissioners whose tenure has ended may be reappointed by reviewing
of Danamon in 2021 is 8 (eight) people. This number the applicable provisions. Members of the Board of
does not exceed the number of members of the Board Commissioners may be dismissed at any time by the GMS
of Directors, which is 8 (eight). although their tenure has not yet ended. The dismissal is
effective as of the closing of the meeting unless the GMS
Half or 50% of the members of the Board of Commissioners determines otherwise.
are Independent Commissioners, comprising of JB
Kristiadi, Peter Benjamin Stok, Hedy Maria Helena Lapian, The tenure of a member of the Board of Commissioners
and Halim Alamsyah. Half of the members of the Board of will end automatically if the member of the Board of
Commissioners are domiciled in Indonesia. The number Commissioners:
and composition of the Board of Commissioners is per the • is declared bankrupt or placed under custody based
needs and complexity of Danamon while considering the on a court decision; or
effectiveness in decision making, and has complied with • is prohibited from serving as a member of the Board
applicable laws and regulations. of Commissioners due to the provisions of the law
or the provisions of the legislation; or
The tenure of the Board of Commissioners is until the • passes away; or
closing of the Annual General Meeting of Shareholders for • is dismissed based on the resolution of the GMS; or
the financial year ending on December 31, 2022, which will • does not meet the requirements as referred to in
be organized no later than June 2023, without prejudice to the provisions of the legislation; or
the right of the General Meeting of Shareholders to dismiss • resigns.
at any time. Members of the Board of Commissioners
Effective date Number of

Name Position GMS Date Tenure Domicile
(BI/OJK approval) Appointments
Commissioner March 20, 2018 October 3, 2018 2018-2020
2x
Takayoshi Futae President March 26, 2019* April 25, 2019** 2019-2020 Japan
Commissioner March 23, 2020 April 25, 2019 2020-2022
2005-2008
2008-2011
Vice President May 9, 2005 December 5, 2005 2011-2014
Commissioner 2014-2017 6x
JB Kristiadi Indonesia
(Independent) 2017-2020
March 26, 2019* April 25, 2019** 2019-2020

March 23, 2020 April 25, 2019 2020-2022
March 20, 2018 July 5, 2018 2018-2020
Commissioner
Peter Benjamin 2x
(Independent) March 26, 2019* April 25, 2019** 2019-2020 Indonesia
Stock
March 23, 2020 April 25, 2019 2020-2022
Nobuya Commissioner October 1, 2019 May 20, 2020 2019-2020

2x Japan
Kawasaki March 23, 2020 May 20, 2020 2020-2022
Hedy Maria Commissioner November 26, December 21,
2020-2022 1x Indonesia
Helena Lapian (Independent) 2020 2020
Takanori Sazaki Commissioner April 30, 2021 August 25, 2021 2021-2022 1x Japan
Dan Harsono Commissioner April 30, 2021 November 18, 2021 2021-2022 1x Thailand
Commissioner
Halim Alamsyah August 26, 2021 November 15, 2021 2021-2022 1x Indonesia
(Independent)
Description:
* Per the resolution of the EGMS on March 26, 2019, the Board of Commissioners has approved a change in the composition of the
Board of Commissioners due to the merger process between Danamon and PT Bank Nusantara Parahyangan Tbk (“BNP”).
** Based on OJK letter No. S-122/PB.12/2019 dated April 25, 2019, concerning Submission of Decision of the Board of Commissioners
of the Financial Services Authority on the Merger of PT Bank Nusantara Parahyangan Tbk into PT Bank Danamon Indonesia Tbk
and PKK Results for the Management of PT Bank Danamon Indonesia Tbk (the result of the merger), all members of the Board of
Commissioners have passed the fit and proper test from the OJK.
314
Independent Commissioner Requirements 5. signing an independence statement that is

In addition to meeting the requirements as a member formulated and updated regularly, including a
of the Board of Commissioners, the Independent statement concerning not having concurrent
Commissioner of Danamon must also meet the positions prohibited by the Financial Services
following requirements: Authority.
1. possessing no financial, management, share
ownership, and/or family relationship with members Independence of Members of the Board of
of the Board of Directors, other members of Commissioners
the Board of Commissioners and/or controlling All current members of the Board of Commissioners do
shareholder, or with Danamon that may affect the not possess family relationships up to the second degree
person’s ability to act independently, with fellow members of the Board of Commissioners,
2. not owning shares either directly or indirectly in Directors, or controlling shareholders. Around 63% of the
Danamon, members of the Board of Commissioners possess no
3. having no business relationship either directly or financial relationship with the controlling shareholder,
indirectly related to Danamon’s business activities, and all members of the Board of Commissioners
4. have never been a member of the Board of possess no financial relationship with other members of
Directors, member of the Board of Commissioners, the Board of Commissioners and the Board of Directors.
member of the Sharia Supervisory Board, or held a
position one level below the Board of Directors in Family Relations and Finance
the same Bank or other company which possesses Family and Financial Relations of Members of the Board
an affiliated relationship with the Bank within the of Commissioners with fellow members of the Board
last 1 (one) year, of Commissioners, Members of the Board of Directors,
and Controlling Shareholders are illustrated in the table
below:
Family Relationship with Financial Relationship With
Member of Member of
Board of Controlling Board of Controlling
Name Position the Board of the Board of
Directors shareholders Directors shareholders
Commissioners Commissioners
Yes Not Yes Not Yes Not Yes Not Yes Not Yes Not
Takayoshi President
- √ - √ - √ - √ - √ √ -
Futae Commissioner
Vice President
JB
Commissioner - √ - √ - √ - √ - √ - √
Kristiadi
(Independent)
Peter
Commissioner
Benjamin - √ - √ - √ - √ - √ - √
(Independent)
Stock
Nobuya
Commissioner - √ - √ - √ - √ - √ √ -
Kawasaki
Hedy Maria
Commissioner
Helena - √ - √ - √ - √ - √ - √
(Independent)
Lapian
Takanori
Commissioner - √ - √ - √ - √ - √ √ -
Sazaki
Dan
Harsono Commissioner - √ - √ - √ - √ - √ - √
Halim Commissioner
- √ - √ - √ - √ - √ - √
Alamsyah (Independent)
315
Concurrent Position of Member of the Board of Commissioners Commissioners fulfilling the functional duties of
1. Members of the Board of Commissioners may only serve as: the Company’s shareholders in the form of legal
a. members of the Board of Commissioners, entities in their business groups, and/or
Directors, or executive officers in a non-financial • members of the Board of Commissioners serve
institution/company; or in non-profit organizations or institutions.
b. members of the Board of Commissioners who are • Members of the Board of Commissioners can only
in charge as members of the Board of Directors, become committee members in a maximum of 5
members of the Board of Commissioners or (five) committees in which they serve.
Executive Officers who perform supervisory
functions in 1 (one) non-bank subsidiary company None of the Commissioners possesses concurrent
controlled by Danamon; positions prohibited by the Financial Services
Authority regarding the implementation of governance
With exceptions: for commercial banks, as reflected in the table below.
• non-independent members of the Board of
Concurrent Position of Member of the Board of Commissioners

Position at
Name
Danamon
None
1. Senior Managing Corporate Executive Group Head, Global Commercial

Banking Business Group COO-I in Charge of Overseas Business
President Transformation- Mitsubishi UFJ Financial Group Inc.
Takayoshi Futae
Commissioner 2. Member of the Board of Directors, Deputy President Chief Executive, Global
Commercial Banking Business Unit, Chief Operating Officer-International
in Charge of Overseas Business Transformation – MUFG Bank, Ltd.
Vice President 1. Member of the Board of Commissioners – PT. Citra Tubindo Tbk
Johanes Berchmans
Commissioner 2. Head of the Independent National Bureaucratic Reform Team – Ministry of
Kristiadi Pudjosukanto
(Independent) State Apparatus Empowerment and Bureaucratic Reform
Commissioner
Peter Benjamin Stock None
(Independent)
Nobuya Kawasaki Commissioner Managing Director - Mitsubishi UFJ Bank.
Hedy Maria Helena Commissioner
None
Lapian (Independent)
1. Regional Executive for Asia Pacific, Managing Executive Officer -
Mitsubishi UFJ Financial Group Inc.
2. Regional Executive for Asia Pacific, Managing Executive Officer - MUFG
Bank, Ltd.
3. Chairman - MUFG Bank (China) Ltd.
Takanori Sazaki Commissioner
4. Vice Chairman, Nomination and Remuneration Committee member -
Bank of Ayudhaya Public Company Limited.
5. Economic Partnership Agreements (EPA) Committee member (EPA
is a small committee under JABCC) – The Japan Australia Business
Cooperation Committee (JABCC)
Dan Harsono Commissioner None
1. Expert in Islamic Finance and Finance – Ministry of Finance of the
Republic of Indonesia
Commissioner 2. Member of the Audit Committee - PT Sinarmas Multi Artha – Indonesia
Halim Alamsyah
(Independent) 3. Advisor - Prudential Syariah
4. President Commissioner - PT Definitely Can Go
5. President Commissioner – Indosat Ooredoo Hutchison
Share Ownership of Members of the Board of information disclosure concerning the securities
Commissioners transactions of Danamon and its Subsidiaries to the
Members of the Board of Commissioners submit Corporate Secretary at least 1 (one) working day before
316
the transaction and a maximum of 1 (one) working day As of December 31, 2021, information on the list of
after the transaction occurs as stipulated in the internal share ownership owned by members of the Board of
policy concerning the Private Securities Trading Policy Commissioners, either directly or indirectly, is as follows:
and Material Non-Public Information.
Share Ownership In
Name Position Non-Bank Description
Other Company
Danamon Financial
Banks Other
Institution
Mitsubishi UFJ
Financial Group Percentage
Takayoshi President Inc. of share
- - -
Futae Commissioner Number of ownership:
shares owned: 0.00%
19,684
Vice President
JB Kristiadi Commissioner - - - - -
(Independent)
1. PT Telkom (Persero)
Tbk Total shares owned
153,900
2. Energi Mega Persada
451.125
3. Jababeka Industrial
Estate Tbk Total shares
owned: 33.00
4. Krakatau Steel (Persero)
500.00
Peter B.
5. Resources Alam
Stock
Indonesia Tbk Total
shares owned
335,000.00
6. Semen Indonesia
(Persero). Total shares
owned 20,500,000
7. Wahana Otto Multiartha
1,009,600,000
8. Waskita Beton Precast
Tbk. Total shares owned
608,000.00
Nobuya
Commissioner - - - - -
Kawasaki
CIMB
Niaga
Hedy Maria
Commissioner Total
Helena - - - -
(Independent) shares
Lapian
owned
173,400
Mitsubishi UFJ
Financial Group
Takanori Commissioner
- - Inc. Number of - 0.00%
Sazaki (Independent)
shares owned
15,234
Dan Harsono Commissioner - - - - -
317
Share Ownership In
Other Company
Danamon Financial
Banks Other
Institution
• PT Aneka
Tambang.
Number of
Indonesian
shares owned
Halim Commissioner Islamic
- 200,000 -
Alamsyah (Independent) Bank
• PT Bukalapak.
150.000
Number of
shares owned
300,000
Policy on Diversity in the Composition of the Remuneration for the Board of Commissioners
Board of Commissioners Indicators and Procedures for Determining the Remuneration
In the nomination process for members of the Board of of the Board of Commissioners. The amount of remuneration
Commissioners, aside from adhering to the minimum for members of the Board of Commissioners is determined
requirements, the scope and balance of knowledge, based on the performance of each member by considering
expertise, and experience, as well as diversity needs, the duties and responsibilities of the Board of Commissioners.
are also taken into consideration in determining the
composition of the Board of Commissioners. The optimal The remuneration formulation refers to Danamon’s internal
composition of the Board of Commissioners escalates policies, applicable external regulations, industry comparisons
the effectiveness of the implementation of the duties and considers Danamon’s performance. The Remuneration
and responsibilities of the Board of Commissioners. Committee provides recommendations to the Board of
Commissioners and submits them to the General Meeting of
In this case, Danamon has already possessed a Shareholders for approval. The distribution of remuneration
Diversity Policy which is employed as a reference in the is administered by the President Commissioner. The GMS
nomination process for candidates for members of the approves the granting of power to the President Commissioner
Board of Commissioners. Danamon values and respects of Danamon to determine the amount of bonus/tantieme
every difference in perspective, knowledge, ability, and during the 2021 financial year as well as the amount of salary
experience of each individual, and does not discriminate or honorarium and allowances for the 2022 financial year
against race, ethnicity, gender, and religion. for each member of the Board of Commissioners based
on the recommendation of the Remuneration Committee.
Procedure for Determining the Remuneration of the Board of Commissioners
Remuneration Board of General Remuneration of

Committee Meeting of Members of
Commissioners the Board of
Shareholders Commissioners
The Remuneration The Board of The GMS determines The distribution of

Committee collects Commissioners studies remuneration for remuneration to
information on the recommendations members of the Board members of the Board
remuneration of the Remuneration of Commissioners of Commissioners is in
standards for positions Committee and and authorizes accordance with the
and similar industries proposes the the President resolutions of the GMS.
in the market by remuneration Commissioner to carry
calculating Danamon’s of the Board of out the distribution
performance. The Commissioners to the to each member
committee makes GMS of the Board of
recommendations Commissioners.
to the Board of
Commissioners.
318
Board of Commissioners Remuneration are determined by deliberation and consensus. If

Structure consensus deliberation does not occur, the decision
Remuneration packages which are received by is formulated by at least 2/3 (two-thirds) of the
members of the Board of Commissioners and the members of the Board of Commissioners who are
grouping of remuneration levels and the number of present or represented at the meeting. Decisions
members of the Board of Commissioners receiving made by 2/3 (two-thirds) are based on the principle
remuneration packages in 1 (one) year are disclosed in of one person one vote.
the Remuneration Policy section of this report. i. The results of the Board of Commissioners meeting
encompassing joint meetings of the Board of
Board of Commissioners Meeting Commissioners and the Board of Directors must be
Board of Commissioners Meeting Policy asserted in the minutes of the meeting, signed by all
members of the Board of Commissioners present,
a. The Board of Commissioners must organize a and submitted to all members of the Board of
meeting at least 1 (one) time in 2 (months). Commissioners and properly documented.
b. The Board of Commissioners must organize a j. If a member of the Board of Commissioners does not
minimum of 2 (two) Board of Commissioners sign the results of the meetings, the person concerned
meetings in a year which are physically attended by must state the reasons in writing in a separate letter
all members. attached to the minutes of the meeting.
c. Meetings of the Board of Commissioners can be k. All decisions of the Board of Commissioners
organized if attended by at least 75% of the members are binding on all members of the Board of
of the Board of Commissioners. Commissioners. Dissenting opinions occurring in the
d. The Board of Commissioners must organize a meeting of the Board of Commissioners must be
meeting with the Board of Directors at least 1 (one) asserted clearly in the minutes of the meeting along
time in 4 (four) months. with the reasons for the difference of opinion.
e. Members of the Board of Commissioners must l. The Board of Commissioners may take legal and
attend meetings of the Board of Commissioners binding decisions without organizing a meeting
at least 75% of the total meetings of the Board of of the Board of Commissioners, provided that all
Commissioners in a year. Members of the Board members of the Board of Commissioners approve
of Commissioners who are unable to attend the the decision in writing.
meeting physically may participate in the meeting m. In a meeting of the Board of Commissioners, a
via teleconference or video conference. The duration member of the Board of Commissioners may only
of the meeting must be signed by all participants be represented by another member of the Board of
attending the meeting physically or by participants Commissioners with a power of attorney.
participating via teleconference or video conference n. Every member of the Board of Commissioners in any
supported by recorded evidence. way, directly or indirectly, owns a personal interest
f. The Board of Commissioners meeting is chaired or conflict in a transaction, contract, or a proposed
by the President Commissioner. If the President contract in which Danamon is a party, must assert
Commissioner is not present, members of the Board the nature of the interest in a meeting of the Board
of Commissioners who are present at the meeting of Commissioners and is not entitled to participate
are appointed to chair the meeting. in voting associated with the transactions, contracts
g. The Board of Commissioners must schedule the or proposed contracts mentioned above, unless the
following year’s meetings before the end of the meeting of the Board of Commissioners determines
year. At the meetings that have been scheduled, the otherwise.
meeting invitation and meeting materials must be
submitted to the participants no later than 5 (five) Frequency of Board of Commissioners
days before the meeting is convened. If the meeting Meeting
is not scheduled, the meeting materials or materials Throughout 2021, the Board of Commissioners organized
are submitted to the participants no later than 6 meetings of the Board of Commissioners and 3 times
before the meeting is organized. the Meetings of the Board of Commissioners inviting the
h. The decisions of the Board of Commissioners meeting Board of Directors.
319
Board of Commissioners Meeting Agenda

No Meeting Date Meeting agenda
• Review and Approval of Minutes of Meeting
• Risk Oversight Committee Report
1 January 25, 2021
• Audit Committee Report
• Corporate Governance Committee Report
2 March 29, 2021
• Nomination Committee Report
3 May 28, 2021 • Audit Committee Report
4 July 26, 2021 • Risk Oversight Committee Report
• Corporate Governance Committee Report
5 September 24, 2021
6 November 23, 2021 • Audit Committee Report
Meeting of the Board of Commissioners inviting the Board of Directors:

1 March 29, 2021 • Business Update (CEO Update, Financial Update, Asset Quality Update)
• Dividend Payment
2 July 26, 2021 • Business Update (CEO Update, Financial Update, and Asset Quality Update)
• 2021 Extraordinary General Meeting of Shareholders.
• Business Update (CEO Update, Financial Update, and Asset Quality Update)
• Bank Strategic Plan
3 November 23, 2021
• Retail and Consumer Business Strategic Plan
• Enabler Strategic Plan
• Wholesale Business Strategic Plan
Attendance in Meetings
The attendance of members of the Board of Commissioners in meetings organized during 2021 is as follows:
Attendance Rate in
Attendance Rate in
Commissioner Board of Commissioners Meeting Invites the
Board of Commissioners Meeting
Board of Directors
Takayoshi Futae 100% 100%
JB Kristiadi 100% 100%
Peter Benjamin Stock 100% 100%
Hedy Maria Helena Lapian 100% 100%
Nobuya Kawasaki 100% 100%
320
Attendance Rate in
Attendance Rate in
Commissioner Board of Commissioners Meeting Invites the
Board of Commissioners Meeting
Board of Directors
Takanori Sazaki 100% 100%
Dan Harsono 100% 100%
Halim Alamsyah 100% 100%
All meetings organized during 2021 fulfilled the meeting of Commissioners.

quorum requirements and were attended both physically 2. Supervision of strategy implementation and
and via teleconferencing technology by members of company management.
the Board of Commissioners. Meeting decisions are 3. Implementation of good corporate governance in
determined by deliberation and consensus, and there is Danamon.
no dissenting opinion in the decisions of the meetings 4. Implementation of risk management and internal
organized during 2021. Information on the schedule, control in dealing with potential risks.
agenda, materials, results, and minutes of the meetings
has been distributed to meeting participants and has The individual performance assessment of the Board
been well-documented. of Commissioners is conducted annually by the
President Commissioner based on benchmarks that
Schedule of the Board of Commissioners have been agreed upon by each member of the Board
Meeting Plan for 2022 of Commissioners. The performance assessment
At the end of 2021, the Board of Commissioners has results of members of the Board of Commissioners
prepared a schedule of meetings to be organized in are one of the basic considerations for the Nomination
2022 for 6 (six) meetings of the Board of Commissioners Committee in providing recommendations to the Board
and 3 (three) meetings of the Board of Commissioners of Commissioners to reappoint members of the Board
inviting the Directors. of Commissioners and as a material consideration for
compiling the remuneration structure of the Board of
ImplementationofDutiesandRecommendations Commissioners.
of the Board of Commissioners in 2021
In conducting the supervisory function, the Board of Orientation Program for New Commissioners
Commissioners provides recommendations to the For New Commissioners, Danamon possesses an
Board of Directors by taking into consideration the introduction program with the objective of providing
inputs from the Committee which assists and is directly an understanding of Danamon’s vision, mission and
responsible to the Board of Commissioners. Corporate Culture, code of ethics, organizational
structure, line of business, Board of Commissioners’
Board of Commissioners Performance Guidelines and Work Rules, and regulations as well as
Assessment banking and capital market regulations. The orientation
Performance Assessment of the Board of Commissioners program is administered through the On-Boarding
Danamon possesses a performance appraisal policy Program and brief presentations by both management
employed as a guideline to assess the effectiveness of and business units and other supporting units face-to-
the implementation of the duties and responsibilities face.
of the Board of Commissioners, both collegially and
individually. The performance appraisal of the Board of Board of Commissioners Training Program
Commissioners is implemented by considering several Members of the Board of Commissioners are frequently
components, including: provided the opportunity to enhance competence
through training programs/seminars/workshops
Structure and composition of the Board of organized internally and externally. In 2021, the
Commissioners. participation of members of the Board of Commissioners
1. The effectiveness of the work program in training programs/seminars/workshops is as follows:
implementation of the committees under the Board
321
Training Table of Board of Commissioners
Training Training
Name Training Program
Organizer Location
Training Date
FKDKP Webinar “Effectiveness of Board of

Commissioners Supervision in Maintaining
JB Kristiadi P. FKDKP Jakarta March 25, 2021
Bank Compliance Towards the Era of
Principle-Based Regulation”
Peter B. Stock Bank Compliance Towards the Era of
FKDKP Jakarta March 25, 2021
Webinar “The Role of the UN in Maintaining STIE Indonesia
Economic & Social Stability in the Asia Banking School Jakarta
February 5,
Pacific during the Covid-19 Pandemic” (IBS)
2021
STIE Indonesia
Webinar “Designing a Digital Technology-
Based Startup Ecosystem to Contribute to
Banking School
Jakarta
February 9,
National Economic Development”
(IBS) 2021
Webinar “Insurtech’s Prospects in STIE Indonesia

Increasing Indonesian Public Financial Banking School Jakarta
February 19,
Inclusion (IBS)
2021

FKDKP Jakarta
March 25,
Bank Compliance Towards the Era of 2021
Webinar “Digital Payments Policy and STIE Indonesia
Regulation in a Sustainable National Banking School Jakarta April 23, 2021
Payment System Ecosystem” (IBS)
Webinar “Policy on Digitalization in
STIE Indonesia
Indonesia’s Financial Services Sector: Its
Effect on Access to Finance and Protection
Banking School Jakarta May 7, 2021
(IBS)
of Personal Data”
Hedy Maria
Webinar “Implementation of Governance,
Helena Lapian
Risk & Compliance in the Digital Age: OJK Jakarta June 3, 2021
Strategy and Action”
STIE Indonesia
Webinar “Digital Leadership” Banking School Jakarta June 11, 2021
(IBS)
Congress of
Post-Covid 19: A stronger Indonesia
Indonesian Online Aug 14, 2021
Diaspora 6
Optimizing the Utilization of Big Data in
the Development of Financial Products and OJK Institute Online Sept 16, 2021
Services
Banking Transformation in the Digital Age OJK Institute Online Oct 22, 2021
Carbon Market: Global Practices OJK Institute Online Nov 4, 2021
Strategy for Digitalization of Islamic
STIE Indonesia
Finance and Banking to Increase Financial
Banking School
Online Aug 13, 2021
Inclusion of Indonesian Society
Personal Data Protection Arrangement
Plan to Balance the Rapid Development of STIE Indonesia
Digital Technology in the Financial Services Banking School
Online Aug 20, 2021
Sector
322
Training Training
Name Training Program
Organizer Location
Training Date
Banking
Directions for the Development of Compliance
Indonesian Banking in 2022 Amid Efforts Director Online Dec 8, 2021
towards Banking Digitization Communication
Forum (FKDKP)
Strengthening Green Finance to Respond
Infobank
to Climate Change Challenges and Online Dec 8, 2021
Institute
Opportunities for Financial System Stability
Risk Management Certification (SMR) Lv.1 LSPP Online

September
Halim Alamsyah 22, 2021
Risk Management Certification (SMR) Lv.2 LSPP Online October 7, 2021
Certification Risk Management (Risk
Takanori Sazaki Management Certification – SMR) Lv. 1
LSPP Online June 28, 2021
Certification Risk Management (Risk

Dan Harsono Management Certification – SMR) Lv. 1
LSPP Online July 27, 2021
323
COMMITTEES UNDER THE BOARD

OF COMMISSIONERS
In carrying out its duties, the Board of Commissioners of Commissioners’ Meetings and/or circular decisions of
has 6 (six) committees to support the effectiveness of the Board of Commissioners. All committees are chaired
its duties and responsibilities, namely: by Independent Commissioners.
• Audit Committee;
• Risk Oversight Committee; Board of Commissioners Committee
• Nomination Committee; Performance Assessment
• Remuneration Committee; The Board of Commissioners evaluates the performance
• Corporate Governance Committee; of the committees of the Board of Commissioners
• Integrated Corporate Governance Committee. based on reports on the implementation of duties and
responsibilities submitted by each committee on a
Each committee is required to have a Committee’s regular basis. The performance of the committees of the
Guidelines and Work Rules that are prepared and Board of Commissioners during 2021 was considered
reviewed periodically based on the applicable regulations. good by the Board of Commissioners and contributed
Committee members are appointed by the Board of to supporting the implementation of the duties and
Commissioners based on the Resolutions of the Board responsibilities of the Board of Commissioners.
Committee’s Member Profile

Name, Age, Citizenship and Qualification/Education
Position Period Expertise
Position Domicile Background
Takayoshi Japan citizen • Member of September Finance • Bachelor of Economics
Futae & Japanese Remuneration 2021-present from Osaka University in
61 y.o domicile Committee Osaka, Japan,
President • Member of • Master’s degree in
Commissioner Nomination Business Administration
Committee from Booth School of
Business, University of
Chicago, USA.
Work Experience (Position, Institution and Period of Service)

• President Commissioner of Bank Danamon, 2019-present
• Commissioner of Bank Danamon, 2018-2019
• Chief Executive Officer of MUFG Bank Asia & Oceania region, 2017
• Senior Managing Executive of BTMU 2017
• Vice Chairman of the Board of Bank of Ayudhya Plc (Krungsri), Thailand.
• Director on the Board of Security Bank Corporation, Philippines, 2016-2018.
• Regional Executive for MUFG Bank in Asia, 2018.
• Senior Managing Director – MUFG Bank, 2017.
• Corporate banking, credit and corporate advisory.
• Part of the Structured Finance Division, serving the MNCs and the non-Japanese corporates.
• Senior roles in structured finance, project and asset based finance, and corporate restructuring – 10 years.
• The Sanwa Bank, Ltd. which was a predecessor of MUFG Bank, 1983.

J.B. Kristiadi Indonesia citizen • Chairman September Finance/risk • PhD (Public
75 y.o, & Indonesian of the 2021-present management Administration),
Vice President domicile Nomination Sorbonne University,
Commissioner Committee France 1979
(Independent) • Chairman • Certificate (Short
of the Course) Adam Smith
Remuneration Institute London 1980
Committee
• Member of
the Audit
Committee
324
Committees Under The Board Of Commissioners

• Vice President Commissioner, Danamon, 2005-present.
• Member of the Indonesian Climate Change Supervisory Board, Ministry of Forestry and Environment, 2021.
• Head of the Independent Panel Team for the Public Service Innovation Competition SK Menpan 2021
• Member of the Supervisory Board of the Jakarta French School, 2012
• Professor of Padjadjaran University, Bandung, 2007
• Commissioner, several SOEs (PT Tambang Batu Bara Bukit Asam, 1980; PT Bank Dagang Negara, 1982; PT Aneka
Tambang, 1986; Bank BNI, 2005, PT Citra Tubindo, to date).
• Head of the National Bureaucratic Reform Team
• Secretary, Tax and Customs Reform Initiative Team, 2010.
• Special Staff, Minister of Finance, 2009-2011.
• Professor, Padjadjaran State University, Bandung, 2007-present.
• Chairman of the Atmajaya Foundation (Catholic University of Jakarta) 2006-2011
• Secretary General, Ministry of Finance, 2005
• Secretary General, Ministry of Communication and Information, 2003-2005.
• Deputy, Minister of State Apparatus Empowerment, 2001-2003.
• Assistant to the Coordinating Minister, Development Supervision, 1999-2001.
• Chairman, Indonesian State Administration Agency (LAN), 1990-1998.
• Director of Budget Development, Ministry of Finance of the Republic of Indonesia, 1987-1990.
• Director of State Wealth Development, Directorate General of Monetary, 1980-1987.

Peter Indonesia citizen • Chairman September Finance • Bachelor of Economics
Benyamin Indonesian of the Audit 2021 present Banking from Padjadjaran
Stok domicile Committee University,
72 y.o • Chairman • Bandung Indonesia
Independent of the
commissioner Corporate
Governance
Committee
• Chairman
of the
Integrated
Corporate
Governance
Committee
• Member of
the Risk
Oversight
Committee
• Independent Commissioner of Bank Danamon, 2018-present
• OJK panelist team for the fit and proper test for candidates for directors and commissioners of the Bank,
2016-2018
• President Commissioner of Bank Negara Indonesia, 2009-2015
• Commissioner of Bank Permata, 2008-2009
• President Director of Bank Niaga, 2000-2006
• President Director of Bank Dagang Negara, 1999-2000
• President Commissioner of Bank Danamon, 1998-1999
• Vice President Director at Bank Pelita, 1997-1998
• Vice President Director of Bank Niaga, 1994-1997
• Member of the Board of Directors of Bank Niaga, 1991-1994
325

Nobuya Japan citizen • Member of September Finance • S2, Master of
Kawasaki Japanese Risk Oversight 2021-present Mechanical Engineering,
49 y.o domicile Committee Keio University
Commissioner • Member of • S1, Bachelor of
Corporate Mechanical Engineering,
Governance Keio University
Committee
• Member of
Integrated
Corporate
Governance
Committee
• Commissioner of Bank Danamon, 2018-present
• Managing Director, Head of Global Commercial Banking Planning Division MUFG Bank Ltd., Singapore, August 2019 –
Present
• Managing Director of Global Commercial Banking Planning Division MUFG Bank Ltd., Singapore, August 2018 – August
2019
• Managing Director of Planning Division for Asia & Oceania MUFG Bank Ltd., Singapore, September 2013– August 2018
• Managing Director, Vice President Mitsubishi UFJ Morgan Stanley Securities, Japan, October 2006 –September 2013
• Manager of Credit Portfolio Management Division The Bank of Tokyo Mitsubishi Ltd, Japan, October 2005 – October 2006
• Manager Mitsubishi Securities, Japan, October 2002 – October 2005
• Associate Product Development Division The Bank of Tokyo Mitsubishi Ltd, Japan, September 1998 – October 2002
• Associate Marunouchi Branch The Bank of Tokyo Mitsubishi Ltd, Japan, April 1997–September 1998

Hedy Maria Indonesia citizen • Chairman of September Finance/ Risk • Bachelor of
Helena & Indonesian Risk Oversight 2021-Present management Accountancy from
Lapian domicile Committee Universitas Padjajaran,
• Member of Bandung 1977
63 y.o Nomination • Master of Business
Independent Committee Administration Joseph
commissioner • Member of M Katz Gradute
Remuneration School of University of
Committee Pittsburgh, USA
• Member of
Corporate
Governance
Committee
• Danamon Independent Commissioner, 2020-present
• Crisis Management Advisor (April 2020-June 2020), Human Resources Director of PT CIMB Niaga Tbk, (April
2016-April 2020)
• Independent Commissioner of PT Asuransi Tokio Marine Indonesia, October 2015-March 2016
• Director of SRO Bank DBS Indonesia, May 2014-August
• Risk Management Director of PT Bank Internasional Indonesia Tbk, July 2010-March 2014
• Commercial Director at PT Bank Barclays Indonesia, January 2009-June 2010
• Country Head, Corporate and Institutional Banking at ABN AMRO Bank N.V., (September 2007-December 2008)
• Director & CFO at PT AIG Life, 2001-2006
• Managing Director Corporate & Investment Banking PT Bank Internasional Indonesia Tbk, Director American
Express Bank (1994 –2000)
• Has held several non-executive positions, including ING Indonesia Bank, American Express TRS, Standard
Chartered Bank and Bank of Trade, San Francisco.
326

Takanori Japan citizen • Member of September Finance, Banking • Bachelor of Law
Sazaki Singaporean Nomination 2021-present Universitas Tokyo
57 y.o domicile committee • Master Of Business
Commissioner • Member of Administration
Remuneration University of
Committee Pensylnvania
• Commissioner of Bank Danamon 2021-present
• Regional Executive Asia Pacific RegionMay 2021
• Vice President of Bank Ayudhya (Kungsri) Thailand
• Chairman of MUFG Bank (China)
• Regional Executive EMEA, 2018
• Head of Global Corporate Investment Banking Strategic, 2018
• Head of Global Compliance, 2016
• Head of Strategic Planning Office Kungsri, 2013-2015
• Director Capital Market Group, Managing Director, Group Head of Corporate Advisory Group Mitsubishi UFG
Securities (USA) Inc 2003-2008
• Chief Financial Planning Manager MUFG, Tokyo

Dan Harsono Citizen of Member of September Finance • Bachelor’s degree with
61 y.o Thailand Risk Oversight 2021 present Cum Laude predicate
Commissioner & Thailand Committee in Electrical and
domicile Biomedical Engineering
from the University of
Southern California at
Los Angeles, California
(1982).
• Master of Business
Administration in
Finance and Marketing
from Indiana University,
Bloomington, IN, USA
(1984).
• Commissioner of Bank Danamon, 2021-present
• Senior Advisor Bank Ayudhya PCL (Kungsri Bank), Bangkok, 2021
• Head of Retail & Consumer Banking Chief Marketing, Bank Ayudhya PCL (Kungsri Bank), Thailand, 2015-2020
• Head of Marketing and Branding Group Bank Ayudhya PCL (Kungsri Bank), Thailand, 2015
• Head of Marketing and International Business Development, Thailand, 2013-2015
• Head of Marketing and Cross Sell, Bank Ayudhya PCL (Kungsri Bank), Thailand 2010-2013
• Chief Marketing Officer of Bank Ayudhya PCL (Kungsri Bank), Thailand, 2007-2010
• Chief Marketing Officer, GE Money Asia Regional Office Thailand, 2005-2007
• Regional Vice President of Marketing & CRM GE Consumer Finance Asian Regional Office, Thailand, 2002-2005
• Managing Director, GE Capital Consumer Finance, Thailand 1997-2001
• Marketing and Business Development Director, GE Capital Auto Kease Head Office Singapore, 1994-1997
• Marketing and Business Development Director GE Capital Auto Lease Head Office, USA, 1992-1994
• Corporate BD Director GE Corporate Office 1990-1992
327

Halim Indonesia citizen • Anggota • Member Finance • Bachelor (S1)
Alamsyah & Indonesia Komite Audit of Audit from Gadjah
65 y.o domicile • Anggota Tata committee Mada University,
Commissioner Kelola • Member of Indonesia, Faculty
• Anggota Corporate of Law (1976-1981)
Komite Governance • Bachelor (S1)
Tata Kelola Committee from the Islamic
Terintegrasi • Member of University of
Integrated Indonesia,
Corporate Indonesia, Faculty
Governance of Economics and
Committee Management (1975-
1980).
• Master of Arts
Development
Economics (S2)
Boston University,
USA (1983-1985)
• Doctoral (S3)
University of
Indonesia, Finance
(2004-2008)

• Independent Commissioner of Bank Danamon, 2021-present
• Indosat Ooredo Hutchison President Commissioner, December 2021 – present
• Expert in Sharia Finance and Finance Ministry of Finance of the Republic of Indonesia
• Chief Commissioner Deposit Insurance Corporation (LPS) (September 2015 – September 2020)
• Deputy Governor – Bank Indonesia (June 2010 – June 2015)
• Head of Governor’s Bureau – Bank Indonesia (2000)

Mawar IR Indonesia citizen Member Accountancy, • Bachelor of
Napitupulu Indonesia of audit Audit, Akuntansi, Accounting, University
59 y.o domicile committee Audit, of Indonesia, 1986
Independent Member of Finance, Risk • Master of Business
party risk Oversight Management Administration at
committee Katholieke Universiteit
Leuven-Belgium,

• Senior Managing Partner-Public Accounting Firm Amir Abadi Jusuf, Aryanto, Mawar & Rekan-a member firm of
RSM International, July 1994-present
• Lecturer at the Accounting Department, Faculty of Economics-University of Indonesia, 1985-present
• Associate Consultant-Management Institute, Faculty of Economics, University of Indonesia, 1990-1994
• Senior Auditor-SGV Utomo, Member Firm of Arthur Andersen & Co. Chase Plaza 8th Floor, Jakarta, 1986-1988
• Chairman and Member of the Supervisory Board of the Indonesian Institute of Certified Public Accountants,
2018-present
• Member of the Indonesian Audit Committee Association, 2004-present
• Member of the Indonesian Association of Curators and Administrators, 1999-present
328

Zainal Abidin Indonesia citizen • Member of September • Banking • Master of Arts (MA) in
66 y.o Indonesia the Audit 2021 present supervision and Economics, Williams
Independent domicile Committee inspection; College, Williamstown,
Party • Member of • Money Market, Massachusetts, USA,
the Risk Forex, Bond 1989
Oversight Trading and • Bachelor of
Committee Investment, Economics, Faculty of
• Member of Derivatives Accounting, Economic
Integrated and Foreign Faculty, Airlangga
Corporate Exchange University, Surabaya-
Governance Management; Indonesia, 1982
Committee • MSME • Certified Chartered
Development, Accountant (CA
Micro Financing, Indonesia)
Banking
Training and
Development;
• Risk
management
• Independent Party, Bank Danamon, 2020-present
• President Commissioner of PT Artajasa Payment Electronics (Artajasa Payment Electronics), 2017-2020
• President Commissioner of PT Mekar Prana Indah/ Bidakara Group, September 2014-2017
• Executive Director at the Department of Credit, Supervision and Examination of BPR and MSME Development,
Bank Indonesia, 2012-2013.
• Director at Directorate of Accounting and Payment System, Bank Indonesia, 2012
• Principal Researcher for Banking Regulations and Studies, Bank Indonesia, 2008-2012.
• Director at the Directorate of Bank Supervision and Examination, Bank Indonesia, 2007-2008
• Deputy Director/Head of Dealing Room/Head of Bureau of Foreign Exchange and Exchange Rate Management at
the Directorate of Foreign Exchange Management, Bank Indonesia, 2001-2007
• Deputy Director of Bank Supervision and Audit, Bank Indonesia, 2001

M. Din Indonesia Member of September • Islamic Law • (S1) Faculty of
Syamsuddin Integrated 2021-present (Sharia), Ushuluddin UIN Syarif
63 y.o Corporate Islamic Political Hidayatullah Jakarta,
Chairman Governance Science, and 1979
of Sharia Committee Communication • (S2) University of
Supervisory between California Los Angeles
Board religion/culture, UCLA), USA, 1988
International • (S3) University of
Relations California Los Angeles
(UCLA), USA, 1991
• President of the Asian Conference on Religions for Peace (ACRP) (2004-2021)
• Chairman of the MUI Advisory Council (2015-2020)
• Special Envoy of the President of the Republic of Indonesia for Interfaith and Intercultural Dialogue and
Cooperation (2017-2018)
• Member of the Leadership Council of United Nation Sustainable Development Solution Network (2015-present)
• Member of the Advisory Board of King Abdulaziz International Center for Interfaith and Intercultural Dialogue
(KAICIID) (2015-present)
• General Chairperson of PP Muhammadiyah (2005-2015)
• Founder and Chair of the Center for Dialogue and Cooperation among Civilizations (2007-present)
• Co-President of the World Conference of Religions for Peace (WRCP) (2006-present),
• Chair of the World Peace Forum (2006-present)
• Member of the Group for Strategic Vision Russia-Islamic World (2006-present)
• Professor of Islamic Politics, UIN Jakarta
329

Roy Fahrizal Indonesia • Secretary 2018-present • Risk • Master of Industrial
Permana concurrently Management Engineering
48 y.o Member of the Certification
HR Executive Remuneration (BSMR) level 1
Officer Committee • Human
• Secretary Resources
concurrently Management
Member of the • Rewards and
Nomination Performance
Committee Management
• Rewards Head, Bank Danamon, 2018-present
• Secretary concurrently member of Remuneration Committee and Nomination Committee, Bank Danamon,
2018-present
• Country Head of HR, Grab Indonesia, 2017-2018
• Rewards and Services Head, Bank UOB Indonesia, 2009-2017
• Secretary and member of the Remuneration and Nomination Committee, Bank UOB Indonesia, 2009-2017.
• Compensation and Benefit Head, Esia – BakrieTelecom, 2008-2009
• Managerial positions in Human Resources, including: Rewards and Performance Management, HR Operations,
HR Area and Business Partner, Bank CIMB Niaga, 2003-2008
• HR Compensation and Benefit Analyst, Texmaco Group, 1998-2003
• Financial Executive, National Commercial Bank, 1998

Krisna Wijaya Indonesia Member of September Economy and • (S1) Bachelor, Socio-
66 y.o Integrated 2021 - Company Economic, Bogor
Independent Corporate present Governance Agricultural University
Commissioner Governance • (S2) Master,
PT Adira Committee Agribusiness
Dinamika Management, Gajah
Multi Finance, Mada University
Tbk. • (S3) Doctorate, Inter-
Sectoral Studies,
Gajah Mada University

• President Commissioner – PT Perusahaan Pengelola Asset (October 2020 – present)
• President Commissioner – PT Danareksa (12 May – 9 October 2020)
• Commissioner (Independent) – PT Adira Dinamika Multi Finance Tbk (2016 – present)
• Chairman of the Audit Committee – PT Adira Dinamika Multi Finance Tbk (2016 – present)
• Independent Commissioner PT Brilian Indah Gemilang (2019 – present)
• Member of the Assessment Team for Clarification/Presentation of Fit and Proper Assessment in the Banking
Sector – Financial Services Authority (2016 – present)
• Director Indonesian Banking Development Institute (LPPI) (2016 – present)
• President Commissioner/Independent Commissioner – PT BNI Life Insurance (2015 – 2018)
• Member of the Supervisory Board – Adaro Building the Nation Foundation (2010 – present)
• Independent Commissioner, Chairman of the Audit Committee, Member of the Risk Management Committee,
Nomination and Remuneration Committee, and Credit Review – PT Bank Mandiri Tbk (2010 – 2015)
• Member of the Sharia Supervisory Board – PT Jaya Proteksi Takaful (2009 – 2016)
• Member of Sharia Supervisory Board – PT Chub Syariah Insurance (2008 – present)
• Commissioner and Member of the Audit CommitteePT Bank Danamon Indonesia Tbk (2008 – 2010)
• Member of the Audit Committee – PT Mahaka Group (2006 – 2016)
• Member of Commissioner – Deposit Insurance Corporation (2005 – 2007)
• Commissioner – PT Bank Rakyat Indonesia (2005 – 2007)
• Director of Micro and Small Business – PT Bank Rakyat Indonesia (2003 – 2005)
• Director of Operations – PT Bank Rakyat Indonesia (2000 – 2003)
• Head of Education and Training Division – PT Bank Rakyat Indonesia (1996 – 2000)
• Head of Semarang Branch PT Bank Rakyat Indonesia (1994 – 1995)
• Head of Surakarta Sudirman Branch PT Bank Rakyat Indonesia (1992 – 1994)
• Head of Commercial Business Regional Office BRI Surabaya PT Bank Rakyat Indonesia (1990 – 1991)
• Senior Leasing Officer PT Bank Rakyat Indonesia (1983 – 1987)
• General Staff Candidate PT Bank Rakyat Indonesia (1980)
330

Ramanathan S Indian & Member of September Finance • Graduate Degree
43 y.o Singaporean Integrated 2021 present in General Law,
MUFG Jakarta Domicile Corporate University of Bombay,
Representative Governance India (May 2004)
Committee • Masters Degree in
Accounting and
Marketing (May 2000)
• Graduate Degree
in Accounting and
Taxation (May 1998)
• Managing Director (GM), Regional Chief Compliance Officer for Asia and Head of Compliance Office for Asia
(ACO) MUFG Bank, Ltd. (June 2021 – Present)
• Managing Director (DGM), Deputy Regional Chief Compliance Officer & Head of Asia Group 1 (AG1), Compliance
Office for Asia (ACO) MUFG Bank, Ltd. (March 2021 – May 2021)
• Managing Director (DGM), Chief Compliance Officer for India and Head of Asia Group 1(AG1), Compliance Office
for Asia (ACO) MUFG Bank, Ltd. (February 2020 – March 2021)
• Managing Director (DGM), Chief Compliance Officer for India MUFG Bank, Ltd. (October 2017–February 2020)
• Director, Chief Compliance Officer and General Counsel – India Societe Generale, S.A. (July 2008 – October
2017)
• Head of Legal, Compliance & Secretarial Future Generali India Insurance PLC (December 2007 July 2008)
• Assistant Manager – Legal, Compliance & Secretarial HDFC Standard Life Insurance PLC (December 2005
December 2007)
• Secretarial Officer Reliance Industries PLC (December 2002 –December 2005)
• Legal & Information Technology Consultant Mega Ace Consultancy PTE (April 2000 – December 2002)
• Secretarial Trainee Alpic Finance PLC (September 1998-April 2000)

Tatsuya Singaporean Member of September Finance/ Risk Master of Engineering
Ishikawa Domicile Integrated 2021 – Management in Applied Systems
52 y.o Corporate present Science, Mar. 1995 Kyoto
MUFG Jakarta Governance University, Kyoto, Japan
Representative Committee

• Managing Director, Head of Risk Management Office for Asia, Chief Risk Officer for Asia (Aug. 2019 – Present)
• Managing Director, Head of Global Market Planning Division (Jun. 2018 – Aug. 2019)
• Managing Director, Head of Market Risk Management Office (Dec. 2016 – May. 2018)
• Managing Director, Head of Treasury Department for the ASEAN region (Jun. 2013 – Dec. 2016)
• Director, International Treasury and Investment Division (Jan. 2010 – Jun. 2013)
• Various positions at the firm since started his career at Bank of Sanwa in 1995, including Manager of Bank of
Japan’s Institute for Monetary and Economic Studies (2001 – 2002) and Corporate Risk Management Division
(1997 – 2001, 2002-2013)

Andre S. Singaporean Member of September Finance/ risk Bachelor of Science from
Painchaud domicile Integrated 2021 present management Salem State College in
50 y.o Corporate Salem Massachusetts,
MUFG Jakarta Governance USA, in 1993. He obtained
representative Committee his MBA from Bentley
College, Waltham,
Massachusetts, USA with
concentration in Finance
in 1994
• Head of the Internal Audit and Credit Examination The Bank of Tokyo-Mitsubishi UFJ, Ltd.
• Audit Director, Quality Assurance for Institutional Clients Group at Citibank Singapore
• Managing Director & Head of Internal Audit for Asia region Daiwa Capital Markets, November 2008 – Juni 2013
• Securities Compliance Examiner in Boston, USA in July 1995 – April 2002
331
Independent Party in Committee 1. Financial reporting

Independent parties are parties outside of Danamon a. Reviewing financial information that will be
who do not have financial, management, share issued by Danamon to the public and/or to
ownership and/or family relationships with members the authorities, including: financial reports,
of the Board of Commissioners, Directors and/or projections, and other reports related to
controlling shareholders or relationship with Danamon Danamon’s financial information.
that may affect their ability to act independently. The b. Monitor and evaluate the compliance of
Board of Commissioners appointed Independent financial statements with applicable accounting
Party Zainal Abidin as an independent member on the standards.
committees of the Board of Commissioners, namely c. Reviewing the adequacy of the audits carried
the Audit Committee, Risk Oversight Committee, out by public accountants to ensure that all
Integrated Corporate Governance Committee and significant risks have been considered.
Mawar IR Napitupulu as independent members of the d. Examine complaints related to Danamon’s
Audit Committee, Risk Oversight Committee based on accounting and financial reporting processes.
recommendations from the Nomination Committee.
The appointed Independent Party must meet the 2. External Audit
competency and independence requirements required a. Recommend to the Board of Commissioners
by the committee.Komite-Komite Dewan Komisaris regarding the appointment, reappointment,
dismissal or replacement, requirements for
involvement, and remuneration of public
AUDIT COMMITTEE accountants to be proposed to the Annual
The Audit Committee was formed to support the General Meeting of Shareholders (AGM).
implementation of the duties and responsibilities of the b. In preparing recommendations, the Audit
Board of Commissioners to monitor and evaluate the Committee will consider the following:
planning and implementation of the audit as well as to • Independence of Public Accountants, Public
monitor the follow-up to audit results in assessing the Accounting Firms and people in Public
adequacy of internal control, including the adequacy of Accounting Firms.
the financial reporting process. The Audit Committee • Scope of audit.
ensures that the integrity, accuracy and adequacy of • Fees for audit services.
financial statements and all significant risks have been • Expertise and experience of Public
considered. The Audit Committee also supervises the Accountants, Public Accounting Firms and
effectiveness of compliance with regulations. The Audit Audit team of Public Accounting Firms.
Committee also provides recommendations for public • Methodology, techniques, and audit facilities
accountants from appropriate public accounting firms used by the Public Accounting Firm.
and supervises their effectiveness. • Benefits of fresh eye perspectives that will be
obtained through the replacement of Public
Audit Committee Guidelines and Work Rules Accountants, Public Accounting Firms, and
The Audit Committee has the Audit Committee Guidelines audit teams from Public Accounting Firms.
and Work Rules that regulate matters related to the c. Reviewing the scope of work and work results
implementation of duties and responsibilities, organization, of public accountants, independence and
membership requirements, independence, authority, objectivity of public accountants every year, and
meeting conduct, work ethics, and the term of office of stating in the Annual Report.
the Audit Committee. The Audit Committee’s Guidelines • The total amount of fees paid to the public
and Work Rules are reviewed periodically to comply with accountant for the financial year and
applicable regulations and the needs of the Bank. In 2019, • Details of fees paid in total for audit and
the Audit Committee Charter was updated. non-audit services, or appropriate negative
statements and whether all significant risks
Duties and Responsibilities of the Audit Committee in the Annual Report have been considered.
The Audit Committee has duties and responsibilities, d. Reviewing the audit of financial statements,
including the following: significant findings, and recommendations of
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public accountants and responses from the f. Reviewing audit reports and ensuring that the
Board of Directors. Board of Directors takes the necessary corrective
e. Evaluate the implementation of audit services on actions quickly to address control weaknesses,
annual historical financial information by Public fraud, compliance issues with policies, laws, and
Accountants and/or Public Accounting Firms at regulations, or other issues identified and reported
least through: by SKAI, External Auditor, and the Financial Services
• Conformity of audit implementation by Authority and or other regulators.
Public Accountants and/or Public Accounting g. Provide recommendations to the Board of
Firms with applicable auditing standards; Commissioners regarding:
• Sufficient time for field work; • Appointment and dismissal of the Head of SKAI
• Assessment of the scope of services provided • Approval of the Internal Audit Charter
and the adequacy of the picking test; and • Annual audit plan, scope and budget allocation
• Recommendations for improvement given of SKAI
by the Public Accountant and/or Public • Provision of SKAI’s overall annual remuneration
Accounting Firm. as well as performance awards.
• The results of the Audit Committee’s
evaluation are no later than 6 (six) months 4. Internal Control
after the end of the financial year. Reviewing and reporting to the Board of Commissioners
f. Monitor and evaluating the planning and on a regular basis, the adequacy and effectiveness
implementation of the audit of public of the internal controls established by the Board of
accountants as well as monitor the follow-up to Directors, including financial, operational, compliance,
the audit results in order to assess the adequacy and information technology controls.
of internal control, including the adequacy of the
financial reporting process. 5. Compliance
g. Monitor and evaluate the compliance of public a. Review the compliance framework, and the
accountants with applicable auditing standards. scope of work and compliance function plans.
b. Reviewing compliance with laws and regulations
3. Internal Audit related to Danamon’s activities.
a. Monitoring and evaluating the implementation of c. Review legal issues that may have a material
duties including the adequacy and effectiveness impact on financial reports, related compliance
of the Internal Audit Unit functions. policies, and reports received from regulators.
b. Reviewing the independence of the Head of the
Internal Audit Unit and ensuring that the Head of 6. Others
the Internal Audit Unit has direct and unrestricted g. In carrying out its duties and responsibilities, the
access to the Board of Directors, Board of Audit Committee acts independently.
Commissioners and Sharia Supervisory Board. h. The Audit Committee examines allegations of
c. Reviewing the scope of work and audit plans errors in the decisions of the Board of Directors
of the Internal Audit Unit, including ensuring meeting or irregularities in the implementation
interaction with the Board of Directors, Board of the decisions of the Board of Directors
of Commissioners, Sharia Supervisory Board, meeting. The audit can be carried out by the
External Auditor, and the Financial Services Audit Committee or by an independent party
Authority and other matters related to the audit. appointed by the Audit Committee at the
d. Reviewing significant findings and expense of Danamon.
recommendations from the Internal Audit Unit i. The Audit Committee must prepare, review
as well as responses from the Board of Directors. and update the Audit Committee Charter on a
e. Monitor and evaluating the implementation of regular basis.
follow-up actions by the Board of Directors on j. The Audit Committee is required to submit a
the findings of the Internal Audit Unit, Public report on the results of the study to all members
Accountants, and audit findings from the Financial of the Board of Commissioners after the report
Services Authority and/or other regulators. on the results of the study is completed by the
333
Audit Committee. 3. If necessary, involve independent parties outside the

k. Provide an independent opinion in the event Audit Committee to assist in carrying out their duties.
that there is a difference of opinion between the 4. Invite/appoint reviewers
Board of Directors and the public accountant on 5. Perform other authorities given by the Board of
the services provided. Commissioners.
l. Maintain the confidentiality of Danamon’s 6. The Audit Committee can access documents, data,
documents, data and information. and information about Bank Danamon employees,
m. The Audit Committee reviews and provides funds, assets and company resources that are
opinions to the Board of Commissioners regarding needed while taking into account the applicable
potential conflicts of interest in Danamon. confidentiality provisions.
n. Members of the Audit Committee are required 7. The Audit Committee can communicate directly
to improve competence through continuous with employees, including the Board of Directors and
education and training. those who carry out the functions of internal audit,
risk management, and accountants regarding the
Authority of the Audit Committee duties and responsibilities of the Audit Committee.
The Audit Committee has the following powers:
1. Investigate any issues that fall within the terms of Structure, Membership, Expertise and Legal
reference, access and cooperation with the Board Basis of Appointment of the Audit Committee
of Directors and the discretion to invite any director Structure and Membership of the Audit Committee
or executive officer to attend Audit Committee The Audit Committee consists of 4 (four) people,
meetings, as well as to have reasonable resources in consisting of 2 (two) Independent Commissioners (Made
order to carry out their functions properly. Sukada and Peter Benjamin Stok) and 2 (two) Independent
2. Reviewing affiliated transactions and conflicts of Parties (Angela Simatupang and Yusuf Nawawi). The Audit
interest after receiving an assessment report from the Committee is chaired by an Independent Commissioner,
Compliance Director, to ensure that these transactions namely Made Sukada. The structure and membership
are carried out with due regard to the interests of of the Nomination Committee has complied with the
Danamon and minority shareholders and carried out applicable regulations.
fairly based on normal commercial terms.
No Name Position in Danamon Position in Audit Committee
1 Peter Benyamin Stok Independent Commissioner Chairman
2 JB Kristiadi Independent Commissioner Member
3 Halim Alamsyah Independent Commissioner Member
4 Mawar Napitupulu Independent Party Member
5 Zainal Abidin Independent Party Member
Expertise of Audit Committee Members Meeting of PT Bank Danamon Indonesia, Tbk. KSR-Kom
All members of the Audit Committee have complied number. Corp. Sec-004 September 17, 2021.
with applicable regulations relating to the expertise
requirements of members of the Audit Committee Independence of Audit Committee Members
covering the fields of finance and/or accounting, risk All members of the Danamon Audit Committee
management, banking and/or law, with due regard for are independent (Independent Commissioners and
each of them with integrity, good character and morals Independent Parties). Non-independent commissioners
as stated in the statement letter. personal. and Directors are not allowed to become members of
the Audit Committee. Members of the Audit Committee
Legal Basis of Appointment are required to comply with the Danamon Code of Ethics
Members of the Audit Committee are appointed through
Circular Decisions of the Board of Commissioners in
lieu of decisions taken at the Board of Commissioners
334
Length of service • Each meeting is recorded in the minutes, properly

The term of office of members of the Audit Committee documented, signed by all members present, and
may not exceed the term of office of the Board submitted to the Board of Commissioners.
of Commissioners as stipulated in the Articles of • Dissenting opinions that occur in the meeting and
Association and may be re-elected only for the next 1 the reasons must be clearly stated in the minutes
(one) period. of the meeting.
Policy and Implementation of Audit Committee Implementation, Attendance Rate, and Meeting
Meetings Agenda
Audit Committee Meeting Policy Throughout 2021, the Audit Committee held 6 (six) meetings
• Committee meetings are held at least once in 3 with the following attendance and meeting agenda:
(three) months according to Danamon’s needs.
• Meetings can be held if attended by at least 51% (fifty Attendance of Committee Members in Meetings
one percent) of the total members. Name Attendance
• Meeting decisions are taken based on the principle
Peter Benyamin Stok 100%
of deliberation and consensus. In the event that
consensus deliberation does not occur, decisions JB Kristiadi 100%
are made based on a majority vote. Decisions made Halim Alamsyah 100%
by majority vote are based on the principle of 1 (one) Mawar Napitupulu 100%
person 1 (one) vote.
Zainal Abidin 100%
Meeting Agenda
No Date Meeting Agenda
• Minutes of Audit Committee Meeting
1 19 January 2021
• Update SKAI
2 23 March 2021 • Update SKAI
• Anti Fraud Roadmap Strategy and Implementation
3 25 May 2021
• Update SKAI
4 21 July 2021
• Update SKAI
5 21 September 2021
• Update SKAI
6 12 November 2021
• Update SKAI
Statement of the Audit Committee on the Risk Oversight Committee

Effectiveness of the Internal Control System
The internal control system implemented by Danamon Risk Oversight Committee is responsible for carrying out
is considered effective and adequate, as reflected in the the risk monitoring function and providing independent
effectiveness of the implementation of internal control professional recommendations or opinions to Board of
functions, including internal audit, risk management, Commissioners related to risk management frameworks
compliance, financial and operational control functions. and policies consistent with Danamon’s risk appetite.
The Audit Committee submits reports on its work
implementation to the Board of Commissioners on a Risk Oversight Committee Charter
regular basis. Risk Oversight Committee has a Charter that stipulates
matters related to the implementation of duties and
responsibilities, membership, work ethics, independency,
335
term of office, and implementation of meetings. The Charter recommended by the BOD;
of Risk Oversight Committee is periodically reviewed. 8. Monitor the effectiveness of Risk Management
Policies, Procedures, Tools, Limits, and Frameworks
Duties and Responsibilities of the Risk Oversight as established by the Risk Management Committee,
Committee Integrated Risk Directorate, Support Functions and
Risk Oversight Committee has the following duties and Business Units.
responsibilities: 9. Ensure accountability of BOD and Executive Officers
1. Establish and periodically review /update Risk in performing their roles and responsibilities in
Oversight Committee Charter; relation to the effective implementation of Bank’s
2. Provide oversight in the implementation of risk and Integrated risk management;
management practices; 10. Initiate an enquiry or investigation on matters
3. Evaluate Bank’s and integrated risk management requiring independent review and assessment
policies and evaluate the appropriateness of the risk as related to Fraud, Conflict of Interest, Lapses in
management policies and their implementation in Governance, Gross Negligence, and Violations of the
order to provide recommendation to the BOC, at least Code of Conduct.
once a year.
4. Provide independent professional opinion to the Authority of the Risk Oversight Committee
BOC and recommend to the BOD actions to be The Risk Oversight Committee has the following powers:
considered for further strenghtening of the risk 1. Accessing required documents, data and Danamon
management framework; information.
5. Monitor and evaluate the Risk Management Working 2. Communicating directly with employees, the
Unit’s and its committee’s duties implementation in Board of Directors and other parties related to the
order to provide recommendations to the BOC. implementation of their duties and responsibilities.
6. Recommend to the BOC, the Bankwide Risk 3. Involve independent parties in order to assist the
Appetite Statement (RAS) Framework, including implementation of their duties if necessary.
establishment of thresholds and triggers; 4. Perform other authorities given by the Board of
7. Review all risk management policies and regulatory/ Commissioners.
internal documents that require BOC approval, as
Structure, Membership, Expertise and Legal Basis for Appointment of the Risk Oversight Committee
Risk Oversight Committee Structure and Membership
The Risk Oversight Committee consists of 6 (six) people, consisting of 2 (two) Independent Commissioners, 2 (two)
Commissioners, 2 (two) independent parties. The structure and membership of the Risk Oversight Committee has
complied with the applicable regulations.
Composition of Members of the 2021Risk Oversight Committee

No. Name Position in Danamon Position in Risk Oversight Committee
1. Hedy Maria Helena Lapian Independent Commissioner Chairman
2. Peter B. Stok Independent Commissioner Member
3. Nobuya Kawasaki Commissioner Member
4. Dan Harsono Commissioner Member
5. Mawar Napitupulu Independent Party Member
6. Zainal Abidin Independent Party Member
336

The membership composition of the Risk Oversight Committee is determined based on Circular Resolutions of the
Board of Commissioners’ Resolutions in lieu of decisions taken at the Board of Commissioners’ Meeting of PT Bank
Danamon Indonesia, Tbk. Number KSR-KOM.Corp.Sec-004 dated 17 September 2021.
Independence of Risk Oversight Committee Members

The majority of Committee members are Independent Commissioners and Independent Parties in an effort to
maintain independence and objectivity. Members of the Board of Directors are not permitted to be members of the
Risk Oversight Committee.
Length of service
The term of office of Committee membership shall not be longer than the term of office of the Board of Commissioners
as stipulated in the Articles of Association.
Policy and Implementation of Risk Oversight Committee Meeting

Risk Oversight Committee Meeting Policy
• Meetings are held at least once in 3 (three) months according to Danamon’s needs.
• Meetings can be held if attended by at least 51% (fifty one percent) of the members including Independent
Commissioners and Independent Parties either face-to-face and/or virtual.
• Meeting decisions are taken based on the principle of deliberation and consensus. In the event that consensus
deliberation does not occur, the decision is taken based on a majority vote. Decisions made based on a majority
vote are based on the principle of 1 (one) person 1 (one) vote.
• Meeting decisions must be recorded in the minutes of the meeting, properly documented, signed by all members
of the Committee present, and submitted to the Board of Commissioners.
• Dissenting opinions and reasons for differences that occur in Committee meetings and the reasons must be
clearly stated in the minutes of the meeting.
Implementation, Attendance, and Meeting Agenda

During 2021, the Risk Oversight Committee has held 10 (ten) meetings with the following attendance and meeting
agenda:
Attendance of Committee Members in Meetings

Name Attendance
Hedy Maria Helena lapian 100%
Peter B. Stok 100%
Nobuya Kawasaki 100%
Dan Harsono 100%
Mawar Napitupulu 100%
Zainal Abidin 100%
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Meeting Agenda of Risk Oversight Committee 2021
Nr. Date Agenda
• Minutes of the Risk Oversight Committee Meeting

• Treasury Capital Market (TCM) Update
• Annual Review of Treasury Trading Limits
• Credit Card Product Program Update
1 21 January 2021
• Update Integration Risk
• Risk Heat Map 2021
• Legal Update and Litigation
• Compliance Update
• Upgrading the Mortgage Product Program
• Annual BSM Boundary Study
• Integrated Capital Management Policy
2 25 February 2021
• Update FTP and CFP Policy
• Credit Portfolio Update
• RAS & Recovery Plan Monitoring
• Product Update of Trade Finance Program
• Credit Risk Management Initiative with MUFG
3 25 March 2021 • Update Credit Portfolio
• Peer Analysis
• Hierarchical Policy Review
• Treasury Capital Market (TCM) Update
4 29 April 2021
• Legal and litigation updates
• Update Credit Portfolio
5 24 June 2021 • Peer Analysis Q1-21
• OJK Bottom Up Stress Test
• MUFG Information Sharing Framework
• Update Treasury Capital Market
6 22 July 2021 • Update Integration Risk
• CCC Update related to Covid-19
• Update Sustainability Policy
• Credit PP and guide
• ICAAP Stress Test
• KAO Update Danamon Privilege Service
• Update Consumer Portfolio
7 26 August 2021
• Regulatory Risk Profile
• Peer Analysis
• ICAAP Study
• Legal Update
338
Nr. Date Agenda

• Proposal limits for employee attrition
22 September
8 • Update Credit Portfolio
2021
• Update Treasury Capital Market
• Annual Review of the Recovery Plan
• RAS Group Study
• Annual MLR Policy Review
9 28 October 2021
• Bank Risk Management Policy & Consolidation
• Credit Portfolio Update
• ICAAP Policy
• Integration Risk Management Policy – MUFG Group
10 19 November 2021 • Financial Sustainability Action Plan
• Update Internal Rating/Scorecard
Implementation of the Work Activities of the the Board of Commissioners and/or members of
Risk Oversight Committee in 2021 the Board of Directors
The Risk Oversight Committee reports activities and 2. Review, evaluate and provide recommendations
recommendations to the Board of Commissioners on regarding the system and procedure for the
a regular basis. selection and/or replacement of members of the
Board of Commissioners and Board of Directors.
Guidelines and Work Rules of the Nomination 3. Identify, review and recommend candidates for
Committee members of the Board of Commissioners and/or
The Nomination Committee has the Nomination Board of Directors including the President Director
Committee Guidelines and Work Rules that regulate to the Board of Commissioners to be submitted to
matters related to objectives, accountability, the General Meeting of Shareholders for approval.
structure and membership, term of office, duties and 4. Recommend to the Board of Commissioners, on
responsibilities, authority, meetings and meetings, as independent parties who will become members of
well as reporting. The Guidelines and Work Rules of the the committees of the Board of Commissioners.
Nomination Committee are reviewed periodically. 5. Danamon’s expense, the Nomination Committee
may from time to time use its authority to use the
Duties, Responsibilities and Authorities of the services of one or more search firms to identify
Nomination Committee candidates (including to approve the fees and
Duties and responsibilities requirements of the search firms).
The Nomination Committee has duties and 6. Can evaluate all members of the Board of
responsibilities, including: Commissioners and/or Board of Directors who
1. Provide recommendations to the Board of will be reappointed at the General Meeting of
Commissioners regarding: Shareholders.
• Composition of positions for members of the 7. Assess and evaluate Candidates in the same way,
Board of Commissioners and/or members of the regardless of gender, race, religion or the source of
Board of Directors the initial recommendation.
• Policies and criteria required in the Nomination 8. Review and evaluate Candidates based on the
process. minimum requirements and other criteria taking
into account all facts and circumstances deemed
• Performance evaluation policies for members of appropriate, including, among others, the proposed
339
Candidate’s banking knowledge and expertise, depth Danamon website.

and breadth of professional experience or other 16. Maintain the confidentiality of all Danamon
background characteristics, their independence, and documents, data and information.
needs Board of Commissioners/ Directors.
9. Propose all candidates (both identified internally The Nomination Committee is required to report the
and by shareholders) who pass the evaluation implementation of its duties and responsibilities as well
to the Board of Commissioners through circular as the nomination procedures that have been carried
letters to be nominated as members of the Board out to the Board of Commissioners. The report is part
of Commissioners/ Directors in the next General of the report on the implementation of the duties of the
Meeting of Shareholders. Board of Commissioners and submitted at the GMS.
10. The official appointment of a candidate as a member Nomination Committee Authority
of the Board of Commissioners/Directors will be The Nomination Committee is authorized to, among
made after the GMS gives approval and after all the others:
requirements as required by regulations including a. Accessing required documents, data, and information
but not limited to the fit and proper test of OJK and from Danamon.
other authorities are fulfilled. b. Communicating directly with employees, the
11. Evaluate and recommend candidates for members Board of Directors, and other parties related to the
of the Board of Commissioners and Directors of implementation of their duties and responsibilities.
subsidiaries who have a significant impact on c. Involve independent parties to assist in carrying out
Danamon, to the Board of Commissioners of their duties if necessary.
Danamon. The Nomination Committee may give (no d. Perform other authorities given by the Board of
objection) to candidates for members of the Board Commissioners.
of Directors of subsidiaries.
12. Assist the Board of Commissioners in assessing Structure, Membership, Expertise and Legal Basis
the performance of members of the Board of of Appointment of the Nomination Committee
Commissioners and/or members of the Board of Structure and Membership of the Nomination Committee
Directors based on the benchmarks that have been In 2021, there will be changes to the structure and
prepared as evaluation material. membership of the Nomination Committee. Based on
13. Provide recommendations to the Board of the GMS 30 April 2021 and based on the decision of
Commissioners regarding the capacity building the Nomination Committee meeting on 2 June 2021,
program for members of the Board of Commissioners the Nomination Committee consists of 5 (five) people,
and/or members of the Board of Directors. consisting of 2 (two) Independent Commissioners, 2
14. Must improve competence through continuous (two) Commissioners, and 1 (one) Executive Officer.
education and training. Danamon in charge of Human Resources. The structure
15. Must prepare, review and update the Nomination and membership of the Nomination Committee has
Committee Charter on a regular basis. The complied with the applicable regulations.
Nomination Committee Charter is available on the
Composition of Members of the 2021 Nomination Committee
Position in Nomination
No Name Position in Committee
Committee
1 J.B. Kristiadi Chairman
(Independent)
2 Takayoshi Futae President Commissioner Member
3 Hedy Maria Helena Lapian Independent Commissioner Member
4 Takanori Sazaki Commissioner Member
5 Roy F Permana Human Resources Executive Officer Member
Expertise of Nomination Committee Members Committee members, taking into account the respective
All members of the Committee complied with applicable integrity, character and morals as outlined in a personal
regulations relating to the expertise requirements of statement.
340
Legal Basis of Appointment the Executive Officer in charge of Human Resources.

The members of the Nomination Committee are 3. Nomination meeting decisions are taken based on
appointed through Circular Decisions of the Nomination the principle of deliberation and consensus.
Committee of PT Bank Danamon Indonesia, Tbk. Number 4. In the event that consensus is not reached, decisions
004/HR-Nomco/0621 dated 2 June 2021. are made based on a majority vote. Decisions are
made based on the principle of 1 (one) person 1 (one)
Independence of the Nomination Committee vote.
To uphold independence and objectivity, the Nomination 5. Dissenting opinions that occur in the Nomination
Committee is chaired by an Independent Commissioner, Committee meeting and the reasons must be clearly
namely J.B. Kristiadi. Members of the Board of Directors stated in the minutes of the meeting.
are not allowed to become members of the Nomination 6. Every meeting of the Nomination Committee is
Committee. Members of the Nomination Committee are recorded in the minutes, properly documented, and
required to comply with the Danamon Code of Ethics. signed by all members of the Nomination Committee
present.
Length of service 7. Minutes of the Nomination Committee meeting
The term of office of the members of the Nomination must be submitted in writing to the Board of
Committee may not be longer than the term of office of Commissioners.
the Board of Commissioners as stipulated in the Articles Implementation of the Nomination Committee Meeting
of Association and may be re-elected only for the next
1 (one) period. During 2021, the Nomination Committee held 7 (seven)
meetings with the attendance each member of the
Policy and Implementation of Nomination Committee Committee as follows:
Meetings Name Attendance
Nomination Committee Meeting Policy
J.B. Kristiadi 100%
1. The Nomination Committee Meeting is held
periodically at least 1 (one) time in 4 (four) months. Takayoshi Futae 100%
2. The Nomination Committee meeting can only be Hedy Maria Helena Lapian 100%
held if it is attended by a majority of the members of Takanori Sazaki 100%
the Nomination Committee and is attended by the
Roy Fahrizal Permana 100%
Chairman of the Nomination Committee including
2021 Nomination Committee Meeting Agenda
No Date of Meeting Meeting Agenda
Changes in the composition of the members of the Board of Commissioners at Bank

1 03 March 2021
Danamon
2 23 March 2021 Appointment of members of the Board of Commissioners at Bank Danamon
3 08 April 2021 Appointment of members of the Board of Commissioners at Bank Danamon
Composition of members of the Board of Commissioners in each Committee at Bank
4 02 June 2021
Danamon
5 07 July 2021 Appointment of members of the Board of Commissioners at Bank Danamon
6 05 August 2021 Resignation of members of the Board of Directors at Bank Danamon
7 15 September 2021 Composition of members of the Integrated Corporate Governance Committee (ICGC)
Implementation of the Work Activities of the Nomination members of the Board of Commissioners at Bank
Committee in 2021 Danamon
The main work activities of the Nomination Committee • Provide recommendations on the composition of
can be summarized as follows: the members of the Board of Commissioners in
• Provide recommendations on the composition each Committee at Bank Danamon.
of members of the Committees of the Board of • Provide recommendations on the resignation of
Commissioners. members of the Board of Directors at Bank Danamon.
• Reviewing the nominations for the appointment of • Reviewing the nominations of candidates for
341
members of the Integrated Corporate Governance structure, policy, and the amount of remuneration:
Committee. • Applicable remuneration in the industry
• The activities and recommendations of the according to the business activity and business
Nomination Committee are reported regularly to the scale of Danamon in the industry.
Board of Commissioners. • Fairness of remuneration compared with peer
group.
REMUNERATION COMMITTEE • Duties, responsibilities, and authority of the
Board of Directors and/or members of the Board
Remuneration Committee is a committee that assists of Commissioners in relation to the achievement
the implementation of the duties and responsibilities of objectives and the performance of Danamon.
of the Board of Commissioners regarding the • Target performance or the individual performance
remuneration policy and structure of the members of of members of the Board of Directors and/or
the Board of Commissioners, Board of Directors, Sharia members of the Board of Commissioners.
Supervisory Board, Independent Party, and certain • The balance of fixed and variable benefits.
Senior Management. The Remuneration Committee • The financial performance of Danamon and its
is responsible to the Board of Commissioners for the compliance with the applicable regulations.
effectiveness of the framework and policies as well as • Target consideration and long-term goal
the structure of Danamon’s remuneration. strategies of Danamon.
4. Evaluate the fore mentioned structure, policies, and
Charter of Remuneration Committee amount of remuneration at least 1 (one) time in 1
The Remuneration Committee has a Charter that (one) year.
stipulates matters relevant to the objectives, 5. Evaluate and update the Charter of Remuneration
accountability, structure and membership, term of Committee periodically.
office, duties and responsibilities, authority, meeting 6. Maintain the confidentiality of all Danamon’s
proceedings, and reporting. The Charter of the documents, data, and information.
Remuneration Committee is periodically reviewed. 7. Improve competency through continuous education
and trainings.
Duties, Responsibilities and Authorities of
Remuneration Committee The Remuneration Committee is required to report the
Duties and Responsibilities implementation of its duties and responsibilities as well
Duties and responsibilities of the Remuneration as remuneration procedures that have been carried out
Committee include: to the Board of Commissioners. The report is part of the
1. Prepare policy, evaluate and provide report on the implementation of the duties of the Board
recommendations to the Board of Commissioners of Commissioners and submitted at the GMS.
regarding:
• The structure and amount of remuneration for Authority of the Remuneration Committee
the Board of Commissioners, Board of Directors, Authorities of Remuneration Committee among others:
and Senior Management. • Access documents, data, and information about
• Remuneration, including salaries, allowances, employees, Senior Management, Board of Directors
bonuses and incentives that will be given based and/ or Board of Commissioners.
on achievement of the predetermined objectives • Establish direct communication with employees,
and targets for the President Director and other the Board of Directors, and other parties relevant to
members of the Board of Directors, members of the implementation of its duties and responsibilities.
the Board of Commissioners and the Supervisory • Involve an independent party to support the
Board. implementation of its duties when necessary.
• Remuneration, including salaries and benefits of • Exercise other authorities assigned by the Board of
Independent Parties. Commissioners.
2. Assist the Board of Commissioners to conduct
performance assessment with the suitability of Structure, Membership, Expertise, and Legal
remuneration received by each member of the Basis for Appointment of Remuneration
Board of Commissioners and/ or members of the Committee
Board of Directors. Structure and Membership of Remuneration Committee
3. Consider the following matters in preparing the In 2021, there was a change in the structure and
342
membership of the Remuneration Committee. Based on

the decision of Nomination Committee on June 02, 2021, Expertise of Remuneration Committee Members
it was decided and approved the resignation of 1 (one) All committee members fulfill the applicable provisions
Independent Commissioner, namely Made Sukada and 1 related to the requirements of the expertise of the
(one) Independent Commissioner, namely Noriaki Goto Nomination Committee members, taking into account
and add Hedy Maria Helena Lapian dan Takanori Sazaki each integrity, character and morals as stated in a
as new members of the Remuneration Committee. personal statement.
Thus the Remuneration Committee has 5 (five) members, Legal Basis of Appointment
consists of 2 (two) Independent Commissioners, 2 Members of Nomination Committee is appointed based
(two) Commissioners, and 1 (one) Executive Officer on the Circular Decision of the Nomination Committee
of Danamon who is in charge of Human Resources. of PT Bank Danamon Indonesia, Tbk. Number 004/HR-
Structure and membership of the Remuneration Nomco/0621 dated June 2, 2021.
Committee has fulfilled the applicable provisions.
Members Composition of Remuneration Committee in 2021

No. Name Position in Danamon Position in Remuneration Committee
1. J.B. Kristiadi Chairman
(Independent)
2. Takayoshi Futae President Commissioner Member
3. Maria Helena Hedy Lapian Independent Commissioner Member
4. Takanori Sazaki Commissioner Member
5. Roy F Permana Human Resources Executive Officer Member
Independency of Remuneration Committee principles of deliberation to reach consensus.

To uphold independence and objectivity, the d. In cases where deliberation to reach consensus
Remuneration Committee is chaired by an Independent does not occur, the decision will be based on a
Commissioner, namely J.B. Kristiadi. Members majority vote. Decision-making based on majority
of the Board of Directors are not permitted to vote is based on the principle of 1 (one) person,
become members of the Remuneration Committee. 1 (one) vote. Dissenting opinions occur in the
Remuneration Committee members must comply with meeting along with the reasons must be clearly
Danamon’s Code of Conduct. stated in the minutes of the meeting.
e. Each meeting is recorded in the minutes of
Length of service meeting which is properly documented, signed
The term of office of the Remuneration Committee by all attendees, and submitted in written to the
members may not be longer than the term of office of Board of Commissioners.
the Board of Commissioners as stipulated in the Articles
of Association and can be re-elected only for the next 1 Implementation of the Remuneration Committee Meeting
(one) period. During 2021, the Remuneration Committee held 5 (five)
meetings with the meeting attendance of each member
Policy and Holding of Remuneration Committee of the Committee as follows:
Meetings
Policy of Remuneration Committee Meetings Attendance of Committee Members
a. Remuneration Committee meetings are held Name Attendance
regularly at least once every 4 (four) months.
J. B. Kristiadi 100%
b. Remuneration Committee meetings can only be
held if attended by the majority of the Remuneration Takayoshi Futae 100%
Committee members and attended by the Chairman Hedy Maria Helena Lapian 100%
of the Remuneration Committee including Executive Takanori Sazaki 100%
Officer in charge of Human Resources.
Roy F Permana 100%
c. Meeting decisions are made based on the
343
Meeting Agenda of Remuneration Committee in 2021

No Date of Meeting Meeting’s Main Agenda
1 17 February 2021 Performance Bonus and salary increase
2 02 June 2021 Remuneration for new members of the Board of Commissioners
3 14 June 2021 The first payment of the 2019 Long Term Incentive Program in June 2021.
4 07 July 2021 New Independent Commissioner Remuneration
5 15 December 2021 Proposed Long-Term Incentive 2021
Remuneration Committee Work Activities Duties and Responsibilities of the Corporate

Implementation Report 2021 Governance Committee
In general, the work activities of the Remuneration Duties and responsibilities
Committee can be summarized as follows: In carrying out its duties and responsibilities, the
• Recommend tantiem and salary increase 2021. Corporate Governance Committee is required to act
• Conducting studies and recommending the independently. The duties and responsibilities of the
remuneration of new members of the Board of Corporate Governance Committee include:
Commissioners 1. Comply with Danamon’s code of ethics.
• Conducting a 2019 long-term incentive payment 2. Evaluate the governance structure and framework as
review. well as the conformity of Danamon’s governance policies.
• Reviewing and recommending remuneration for new 3. Review and evaluate the principles and
Independent Commissioners. implementation of Danamon’s governance on a
• Conducting a study on the proposed 2021 Long- regular basis and submit recommendations for
Term Incentive program. improvement to the Board of Commissioners.
The activities and recommendations of the 4. Reporting to the Board of Commissioners various
Remuneration Committee are reported regularly to the non-conformances in the implementation of
Board of Commissioners. governance and submitting actions that can be
taken for improvement.
Corporate Governance Committee 5. Reviewing the governance report issued by Danamon
to ensure the transparency and accuracy of the
The Corporate Governance Committee is a committee report and recommending improvements to the
that assists the implementation of the duties and Board of Directors.
responsibilities of the Board of Commissioners in terms 6. Submit recommendations in the context of providing
of monitoring the effectiveness of governance structures, endorsement by the Board of Commissioners on the
frameworks, policies and resources to support the governance report and Danamon’s governance policies.
implementation of good governance principles. The 7. Prepare, review and update the Committee Charter
Corporate Governance Committee is responsible to on a regular basis. The Committee Charter is
the Board of Commissioners in terms of monitoring available on the Company’s website.
the implementation of Danamon’s governance and 8. Maintain the confidentiality of all Danamon
compliance with regulations. documents, data and information.
9. Reporting on the activities of the Governance
Corporate Governance Committee Guidelines and Committee to the Board of Commissioners.
Work Rules
The Corporate Governance Committee has Committee Authority of the Corporate Governance Committee
Guidelines and Work Rules that regulate matters related The authority of the Corporate Governance Committee,
to objectives, accountability, structure and membership, among others:
term of office, duties and responsibilities, authorities, 1. Access necessary documents, data, and Danamon
meetings and their implementation, and reporting. The information.
Guidelines and Work Rules of the Corporate Governance 2. Communicating directly with employees, the
Committee are reviewed regularly. Board of Directors and other parties related to the
implementation of duties and responsibilities.
3. Involve independent parties to assist in carrying out
their duties if necessary.
4. Perform other authorities given by the Board of
Commissioners.
344
Structure, Membership, Expertise and Legal The Corporate Governance Committee consists of
Basis for Appointment of the Corporate 4 (four) people, consisting of 3 (three) Independent
Governance Committee Commissioners and 1 (one) Commissioner.
Corporate Governance Committee Structure and
Membership
Name Position in Danamon Position in Committe

Peter Benyamin Stok Independent Commissioner Chairman
Nobuya Kawasaki Commissioner Member
Hedy Maria Helena Lapian Independent Commissioner Member
Halim Alamsyah* Independent Commissioner Member
*Halim Alamsyah is appointed as committee member on September 20, 2021
Membership of the Governance Committee Governance Committee Meeting Policy

All committee members comply with applicable Meetings are held in accordance with the needs of
regulations relating to the expertise requirements of Danamon at least 1 (one) time in 1 (one) semester.
the members of the Governance Committee, with due 1. Attendance at least 51 (fifty one percent) of the
regard for each of them with good integrity, character members of the Governance Committee.
and morals as stated in a personal statement. 2. Meeting decisions are taken based on the principle
of deliberation and consensus.
Legal Basis of Appointment 3. In the event that there is no consensus, the decision
Members of the Danamon Governance Committee are shall be determined by a majority vote. Decisions
appointed through Circular Decisions of the Board of taken by majority vote are based on the principle of
Commissioners in lieu of decisions taken at the Board 1 (one) person 1 (one) vote.
of Commissioners Meeting, namely Number KSR-Kom. 4. Dissenting opinions that occur in the meeting and
Corp.Sec-004 dated September 2021. the reasons for the differences must be stated
clearly in the minutes of the meeting.
Independence of the Governance Committee 5. Each meeting is recorded in the minutes, properly
To uphold independence and objectivity, the Governance documented, signed by all members of the
Committee is chaired by an Independent Commissioner, Governance Committee present, and submitted to
namely Peter B. Stok. Members of the Board of Directors the Board of Commissioners.
are not allowed to become members of the Governance
Committee. Members of the Governance Committee are Implementation, Attendance Rate, and
required to comply with the Danamon Code of Ethics. Meeting Agenda
During 2021, the Corporate Governance Committee
Length of service has held 2 (two) meetings with the following levels of
The term of office of members of the Governance attendance and meeting agenda:
Committee may not be longer than the term of office of
the Board of Commissioners as stipulated in the Articles Attendace of Committee Members
of Association and may be re-elected only for the next Name Attendance
1 (one) term.
Policy and Implementation of Governance Nobuya Kawasaki 100%

Committee Meetings Hedy Maria Helena Lapian 100%
Meeting Agenda
No Date of Meeting Meeting Agenda
1. Minutes of Meeting
2. Draft CG Self Assessment
1 19 January 2021
3. Update on Bank Governance (Sharia Spin-Off and Qanun in Aceh, BOC
Composition, Sharia Spin-Off and Qanun in Aceh)
2. Draft CG Self Assessment
2 19 July 2021
3. Update on Bank Governance (Sharia Spin-Off and Qanun in Aceh, BOC
Composition, Sharia Spin-Off and Qanun in Aceh)
345
INTEGRATED GOVERNANCE COMMITTEE 3. The Integrated Governance Committee is authorized

Danamon as the Main Entity of the MUFG Group to involve independent parties to assist in carrying
Financial Conglomerate formed the Integrated out its duties, if necessary.
Governance Committee to assist the implementation of 4. The Integrated Governance Committee is authorized
the duties of the Board of Commissioners as the Main to carry out other authorities given by the Board of
Entity’s Board of Commissioners, particularly in carrying Commissioners of Danamon/Main Entity.
out the supervisory function on the implementation
of integrated governance in the MUFG Group Financial Structure, Membership, Expertise and Legal
Conglomerate, in accordance with applicable laws and Basis for Appointment of the Integrated
regulations. apply. The Integrated Governance Committee Governance Committee
is responsible to the Board of Commissioners. Integrated Governance Committee Structure and
Membership
Integrated Governance Committee Guidelines In line with the changes to the MUFG Group Financial
and Work Rules Conglomerate, the Integrated Governance Committee
Danamon’s Integrated Governance Committee has consists of 9 (nine) people, namely:
established Committee Guidelines and Work Rules that 1. From the Main Entity consisting of:
regulate matters related to objectives, accountability, • 2 (two) Independent Commissioners.
structure and membership, term of office, duties and • 1 (one) Commissioner.
responsibilities, authority, meetings and implementation, • 1 (one) Independent Party.
and reporting. The Integrated Governance Committee’s • 1 (one) Member of the Sharia Supervisory Board.
Guidelines and Work Rules are reviewed periodically. 2. From the Subsidiary: 1 (one) Independent
Commissioner who represents and is appointed by
Duties and Responsibilities of the Integrated the Subsidiary.
Governance Committee 3. From Related Companies: 3 (three) members of the
Duties and Responsibilities Duties and responsibilities of Supervisory Board who represent and are appointed
the Integrated Governance Committee, among others: from the Related Company.
1. Evaluate the implementation of integrated
governance at least through an assessment of the The composition of the members of this Committee
adequacy of internal control and the implementation has complied with the Guidelines and Work Rules of
of an integrated compliance function. the Integrated Governance Committee as well as the
2. Provide recommendations to the Board of requirements for the independence of the Committee
Commissioners of the Main Entity in terms of members.
improving integrated governance policies. Expertise of Integrated Governance Committee Member
3. Improving the competence of members through Each member has the expertise needed to carry out the
continuous education and training. committee’s functions by taking into account that each
4. Have, review and update the Integrated Governance has integrity, good character and morals as outlined in a
Committee Charter on a regular basis. personal statement.
5. Maintain the confidentiality of all documents, data Legal Basis of Appointment
and information of the Main Entity and Subsidiaries. Members of the Integrated Governance Committee are
appointed through Circular Resolutions of the Directors’
Authority of Integrated Governance Committee Resolutions in lieu of decisions taken at the Board of
The authority of the Integrated Governance Committee, Directors’ Meeting of PT Bank Danamon Indonesia Tbk.
among others: Number KSR-KOM.Corp.Sec-004 which is effective as of
1. The Integrated Governance Committee has the September 12021.
authority to access the required documents, data
and information from the Main Entity, Subsidiaries, Independence of the Integrated Governance Committee
and Related Companies, while still complying with To uphold independence and objectivity, the Integrated
the internal policies of each entity and the prevailing Governance Committee is chaired by an Independent
laws and regulations. Commissioner, namely Peter B. Stok. Members of the
2. The Integrated Governance Committee is authorized Board of Directors are not allowed to become members
to communicate directly with employees, the Board of the Integrated Governance Committee.
of Directors and other parties within the Main Entity,
Subsidiaries, and Related Companies.
346
Length of service the principle of 1 (one) person 1 (one) vote.

The term of office of members of the Integrated 4. Dissenting opinions that occur in the meeting and
Governance Committee may not be longer than the term the reasons for the differences must be stated
of office of the Board of Commissioners as stipulated in clearly in the minutes of the meeting.
the Articles of Association. 5. Each meeting is recorded in the minutes, properly
documented, signed by all members of the Integrated
Policy and Implementation of Integrated Governance Committee present and submitted to
Governance Committee Meetings the Board of Commissioners of the Main Entity.
Integrated Governance Committee Meeting Policy
1. Meetings are held as needed at least 1 (one) time in Implementation of the Integrated Governance
1 (one) semester. Committee Meeting
2. Attendance at least 5(fifty one percent) of the Implementation, Attendance Rate, and Meeting Agenda
members of the Integrated Governance Committee. During 2021 the Integrated Governance Committee
3. Meeting decisions are taken based on the principle has held 2 (two) meetings with the following levels of
of deliberation and consensus. In the event of no attendance and meeting agenda:
consensus, the decision is determined by a majority
vote. Decisions taken by majority vote are based on
Attendace of Committee Members

Name Attendance
Name Attendance
Kevin Ludwick 100%
Tatsuya Ishikawa 100%
Nobuya Kawasaki 100%
Andre S Painchaud 100%
Zainal Abidin 100%
Adam Hartono Asihin 100%
M Din Syamsudin 100%
Djoko Sudyatmiko 100%
Meeting Agenda
No Date Meeting Agenda
2. Draft ICG Self-Assessment
1 5 February 2021 3. Update on Financial Conglomerate Governance (Proposed revision of ICG
charter, ICG Policy, Update on POJK on Financial Conglomerate, and Update on
governance of subsidiaries and sister companies).
2. Draft ICG Self-Assessment
2 6 August 2021
3. Update on Financial Conglomerate Governance (Update on governance of
subsidiaries and sister companies)
347
THE BOARD OF
DIRECTORS
The Board of Directors is a company organ that is other facilities as determined by the General Meeting of
collectively fully responsible for the management of Shareholders.
the company for the interests and objectives of the 3. They are prohibited to hold concurrent positions as
company and represents the company both inside and a member of the Board of Commissioners, Board of
outside the court under the Articles of Association. Directors, or executive officer of a bank, company, and/or
other institution. It does not include concurrent positions
The members of the Board of Directors are appointed if the Board of Directors who is responsible for supervising
by the General Meeting of Shareholders (GMS) after investment in Danamon’s Subsidiary Company, carries
considering the recommendations of the Nomination out functional duties as a member of the Board of
Committee through the Board of Commissioners. The Commissioners in a non-bank Subsidiary Company
appointment is effective from the date determined controlled by Danamon, as long as the dual position
in the GMS and ends at the closing of the 3rd (third) does not result in the person concerned neglecting
GMS after the appointment date. If there is an addition/ the implementation of duties and responsibilities as
appointment of a member of the Board of Directors, the members of the Board of Directors.
tenure of the member of the Board of Directors begins 4. They are prohibited to own shares of more than 25%
on the date specified in the GMS and ends on the same (twenty-five percent) either individually or jointly from the
date as the tenure of the other members of the Board paid-up capital of Danamon and/or in another company.
of Directors. 5. They are prohibited to give a general power of attorney to
other parties which results in the transfer of duties and
The Board of Directors is responsible for carrying out functions of the Board of Directors.
their duties to the GMS. In carrying out their duties, 6. They are forbidden to use individual advisors and/or
the Board of Directors is given clear authority and professional services as consultants unless they meet
responsibility under the Articles of Association which is the requirements 1) The project is specific; 2) Based
guided by the applicable laws and regulations. Members on a clear contract, which at least covers the scope of
of the Board of Directors whose tenure has ended may work, responsibilities, and duration of work as well as
be re-elected by the GMS for the next 3 years. costs; 3) Consultants are independent parties and have
qualifications to work on special projects.
Board of Directors’ Guidelines and Work 7. They are prohibited to directly or indirectly make false
Procedures statements regarding material facts or to conceal material
The Board of Directors has Guidelines and Work Rules facts so that the statements made are not misleading
that are compiled and reviewed regularly based on regarding the current condition of Danamon when
applicable regulations (Financial Services Authority/ the statement is made.
Bank Indonesia), international best practices, and 8. They are subject to the Danamon Code of Ethics,
best governance practices. The guidelines and applicable laws, and regulations, as well as
work procedures of the Board of Directors contain Danamon’s internal policies.
and regulate matters relating to general provisions,
membership structure, duties and responsibilities, Disclosure of the Board of Directors
committee formation, authority, transparency, work 1. The Board of Directors discloses the following in the
ethics, meetings, tenure, and reporting. Corporate Governance Implementation Report:
a. share ownership both in Danamon and in other
Board of Directors’ Work Ethics banks and companies, domiciled at home and
Members of the Board of Directors hold the following abroad;
work ethics: b. financial and family relationships with members
1. They are prohibited to use Danamon for personal, of the Board of Commissioners, other members
family, and/or other party interests that may harm of the Board of Directors, and/or controlling
or reduce the profits and reputation of Danamon and shareholders of Danamon;
its Subsidiaries. c. remuneration and facilities received from
2. They are prohibited to take and/or receive personal Danamon;
benefits from Danamon other than remuneration and d. position in another company.
348
The Board Of Directors
2. The Board of Directors is required to disclose Performing other authorities given by Danamon’s
Danamon’s strategic policies in the field of personnel Articles of Association as well as applicable laws and
to employees. regulations.
Duties and Responsibilities of the Board of Diversity Policy in the Composition of the
Directors Board of Directors
Duties and Responsibilities of the Board of Directors, Danamon has a diversity policy that is used as a reference
require them to: in the nomination process for prospective members of
1. be fully responsible for the implementation of the Board of Directors. Danamon values and respects
Danamon’s management, every difference in perspective, knowledge, ability, and
2. manage Danamon with the authority and experience of each individual, and does not discriminate
responsibility as regulated in Danamon’s Articles of against race, ethnicity, gender, and religion.
Association and the prevailing laws and regulations,
3. implement the principles of governance in every In the nomination process, in addition to paying
Danamon business activity at all levels or levels of attention to the minimum requirements and other
the organization. criteria, the scope and balance of knowledge, expertise,
4. be fully responsible for setting the short and long- and experience, as well as diversity needs, are taken
term strategic direction and priorities of Danamon. into consideration by Danamon to obtain an optimal
5. follow up on audit findings and recommendations composition of the Board of Directors. The optimal
from Danamon’s Internal Audit Unit, external composition of the Board of Directors can optimize
auditors, results of supervision by the Financial decision-making and ultimately improve the company’s
Services Authority, Bank Indonesia, and/or results of performance.
supervision by other authorities.
6. carry out Danamon’s social responsibility programs. Board of Directors Succession Policy
7. establish an Internal Audit Unit, a Risk Management Danamon has a succession policy for members of the
Unit, and a Compliance Unit, to implement the Board of Directors which is used to maintain continuity
principles of good corporate governance. of leadership in the future. The implementation of
8. maintain a healthy and open relationship with the succession is carried out through the identification
Board of Commissioners and support the Board of executive officers who have potential through the
of Commissioners in carrying out its role as a Talent Review Program. Each member of the Board of
supervisory organ. Directors is required to submit a minimum of 2 (two)
9. be responsible for the implementation of their replacement candidates whose competency and skill
duties to shareholders through the General Meeting gaps will be identified and evaluated. The replacement
of Shareholders. candidates will be grouped into the talent inventory to
10. disclose to employees regarding strategic Human be recommended to the Nomination Committee.
Resources policies in the field of personnel.
11. provide accurate, relevant, and timely data and Board of Directors Nomination Policy
information to the Board of Commissioners. The Nomination Policy is prepared as a basis for
12. ensure the implementation of Integrated Governance identifying candidates for members of the Board of
in the Financial Conglomerate as stipulated in the Directors with the best qualifications who meet the
Integrated Governance policy. minimum requirements as stipulated in the laws and
regulations and other criteria.
Authority of Directors
Representing Danamon inside and outside the court The process of identifying candidates for the Board of
on all matters and in all events, binding Danamon with Directors is carried out by the Nomination Committee.
other parties and other parties with Danamon and If necessary, the Nomination Committee can use the
carrying out all actions, both regarding management services of a third party (search firm). The Nomination
and ownership, but with restrictions and conditions as Committee conducts identification of qualified
stated in the Articles of Association Danamon. candidates, interviews, and candidate selection
(including background and reference checks).
349
The Nomination Committee will consider knowledge, selected candidate to the Board of Commissioners
expertise, and professional experience, as well as for approval and endorsement at the General Meeting
diverse compositions without discriminating against of Shareholders. The Nomination Committee will also
race, ethnicity, gender, and religion in identifying evaluate all members of the Board of Directors who will
candidates. The Nomination Committee proposes the be reappointed at the General Meeting of Shareholders.
Number, Composition, and Criteria of Directors

The composition of the Board of Directors is as follows:
No. Name Position
1 Yasushi Itagaki President director

2 Honggo Widjojo Kangmasto Vice President Director
3 Herry Hykmanto Director
4 Rita Mirasari Director
5 Heriyanto Agung Putra Director
6 Dadi Budiana Director
7 Muljono Tjandra Director
8 Naoki Mizoguchi Director
All members of the Board of Directors have passed the fit and proper test from OJK
The majority of the members of the Board of Directors All members of the Board of Directors upon appointment
are Indonesian citizens and all of them are domiciled have met the requirements for integrity, competence,
in Indonesia. The Board of Directors is led by a and financial reputation that include; having good
President Director who comes from professional circles character and morals, having never been declared
and has sufficient integrity and competence. The bankrupt, having never been convicted of a criminal act,
President Director is an independent party who has no and having knowledge, expertise, and experience in the
management, ownership, and/or financial relationship operational field as an official bank executive.
as well as a family relationship with the controlling
shareholder.
Number, Composition, and Criteria of Directors
Effective Date Number of

(OJK/BI Approval) Appointments
Director March 20, 2018 7 September 2018 2018-2020
Director 26 March 2019* April 25, 2019** 2019-2020
2x
Yasushi Itagaki President Indonesia
October 1, 2019 December 5, 2019 2019-2020
Director
President
March 23, 2020 December 5, 2019 2020–2022
Director
Honggo Widjaja Vice Director October 1, 2019 December 5, 2019 2019-2020

2x Indonesia
Kangmasto
Vice Director March 23, 2020 December 5, 2019 2020–2022
350
Effective Date Number of

(OJK/BI Approval) Appointments
2008-2011
2011-2014
Director 03 April 2008 May 13, 2008
Herry 2014-2017 Indonesia
Hykmanto 5x
2017-2020
26 March 2019* April 25, 2019** 2019-2020
March 23, 2020 April 25, 2019 2020-2022
07 September 14 September 2016-2017

2016 2016 2017-2020
Director 3x
Rita Mirasari Indonesia
26 March 2019* April 25, 2019** 2019-2020
March 23, 2020 April 25, 2019 2020-2022
December 23, 2016-2017

April 28, 2016
Heriyanto Director 2016 2017-2020 3x
Indonesia
Agung Putra
26 March 2019* April 25, 2019** 2019-2020
March 23, 2020 April 25, 2019 2020–2022
March 20, 2018 17 October 2018 2018-2020
Director 2x Indonesia
Dadi Budiana 26 March 2019* April 25, 2019** 2019-2020
March 23, 2020 April 25, 2019 2020-2022
Muljono Director October 1, 2019 December 5, 2019 2019-2020

2x Indonesia
Tjandra March 23, 2020 December 5, 2019 2020-2022
Naoki Director October 1, 2019 December 5, 2019 2019-2020 2x

Indonesia
Mizoguchi March 23, 2020 December 5, 2019 2020-2022
* Under the resolution of the EGMS on March 26, 2019, the Board of Directors has approved a change in the composition of the
Board of Directors due to the merger process between Danamon and PT Bank Nusantara Parahyangan Tbk (“BNP”).
** Based on OJK letter No. S-122/PB.12/2019 dated 25 April 2019, regarding Submission of Decision of the Board of Commissioners
of the Financial Services Authority on the Merger of PT Bank Nusantara Parahyangan Tbk into PT Bank Danamon Indonesia Tbk
and PKK Results for the Management of PT Bank Danamon Indonesia Tbk (the result of the merger), all members of the Board of
Directors have passed the fit and proper test from the OJK.
Scope of Work and Responsibilities of Each Director

Each member of the Board of Directors has a field of duty and authority which is regulated by referring to the Articles
of Association and Decisions of the Board of Directors. In 2021, based on the Organizational Structure, the scope of
duties and responsibilities of each Member of the Board of Directors is as follows:
Directors Duties and responsibilities

Overseeing all duties and authorities of the Board of Directors and directly
Yasushi Itagaki supervising the Internal Audit field, PT Adira Dinamika Multi Finance Tbk, Treasury
(President director) Capital Market, Information Technology, Operation, Branch Control, Branch
Network, Consumer Banking, Small & Medium Enterprises (SME), Bancassurance.
Honggo Widjojo Kangmasto Enterprise & Transactional Banking, Financial institutions, Treasury Sales
(Vice President director)
Herry Hykmanto
Sharia Banking, Micro Banking, CREM, Business Banking Unit
(Director
Rita Mirasari
Compliance and Corporate Secretary, AML/KYC, Integrated Risk (Pjs)
(Director)
351
Directors Duties and responsibilities

Heriyanto Agung Putra
Human Resources
(Director)
Dadi Budiana
Credit, Law, Litigation
(Director)
Muljono Tjandra
Finance
(Director)
Naoki Mizoguchi
Global Alliance Strategy, Digital, and Marketing
(Director)
Independence of the Board of Directors

All members of the Board of Directors do not have family and financial relationships which are stated in a statement
letter signed by the members of the Board of Directors and updated every year. Members of the Board of Directors
have fulfilled the independence requirements under the provisions of the Implementation of Good Governance which
are accommodated in the Guidelines and Work Rules of the Board of Directors.
Family Relations and Financial Relations of Members of the Board of Directors

Family Relationship with Financial Relationship With
Member of Member of
Board of Controlling Board of Controlling
Name Position the Board of the Board of
Directors shareholders Directors shareholders
Commissioners Commissioners
Yes No Yes No Yes No Yes No Yes No Yes No

President
Yasushi Itagaki - √ - √ - √ - √ - √ - √
Director
Vice
Honggo Widjojo
President - √ - √ - √ - √ - √ - √
Kangmasto
Director
Herry Hykmanto Director - √ - √ - √ - √ - √ - √
Rita Mirasari Director - √ - √ - √ - √ - √ - √
Heriyanto Agung
Director - √ - √ - √ - √ - √ - √
Putra
Dadi Budiana Director - √ - √ - √ - √ - √ - √
Muljono Tjandra Director - √ - √ - √ - √ - √ - √
Naoki Mizoguchi Director - √ - √ - √ - √ - √ - √
Concurrent Positions of Members of the Board of Directors

The Board of Directors discloses the position or other positions as outlined in a statement letter signed by the
members of the Board of Directors and updated annually. It does not include concurrent positions for Directors who
have supervisory responsibilities in Subsidiaries, carry out functional duties and become Board of Commissioners
in Subsidiaries. All members of the Board of Directors of Danamon do not hold concurrent positions which are
prohibited by OJK regulations regarding the Implementation of Good Corporate Governance for Commercial Banks.
Position of Member of Danamon’s Board of Directors in Subsidiary Company

Position at
Name Position at Subsidiary Company
Danamon
Yasushi Itagaki President Director President Commissioner of PT Adira Dinamika Multi Finance Tbk
352
Position at
Name Position at Subsidiary Company
Danamon
Honggo Widjojo Vice President
-
Kangmasto Director
Herry Hykmanto Director -
Rita Mirasari Director -
Heriyanto Agung Putra Director -
Dadi Budiana Director -
Muljono Tjandra Director -
Naoki Mizoguchi Director -
Share Ownership of Members of the Board of Directors

All members of the Board of Directors do not own shares that reach 25% of the paid-up capital of a company. The
direct or indirect share ownership of each member of the Board of Directors in Danamon, Other Banks, Non-Bank
Financial Institutions, and other companies, is as follows:
OwnershipStock On
Other
Danamon Other Banks Financial
Companies
Institution
President
Yasushi Itagaki - - - -
director
Honggo
vice President
Widjojo 260,600 - - -
director
Kangmasto
Herry
director 350,956 - - -
Hykmanto
Rita Mirasari director 164,700 - - -
PT. Garuda
Indonesia
Heriyanto (Persero)
director 207,600
Agung Putra Number of
shares owned
207,804
Dadi Budiana director 272,500 - - -
Muljono
director 184,100 - - -
Tjandra
Naoki
director - - - -
Mizoguchi
Directors’ Remuneration
Indicators for Determining the Remuneration of the Board of Directors
Determination of remuneration for the Board of Directors is recommended by the Remuneration Committee with
reference to Danamon’s remuneration principles and the results of an assessment of target achievement (goal
setting), applicable regulations, similar industries in the market (industry comparison), and Danamon’s performance.
The Committee’s recommendations are submitted to the Board of Commissioners for approval from the GMS.
353
Procedures for Determining the Remuneration of the Board of Directors can be illustrated as follows:
Board of Directors
The process of determining the Remuneration of the
Remuneration Board of General Remuneration of

Committee Meeting of Members of
Commissioners the Board of
Shareholders Directors
The Remuneration The Board of The GMS determines Remuneration

Committee gathers Commissioners studies remuneration of the distribution to each
information on the recommendations Board of Directors members of the Board
remuneration of the Remuneration of Directors in GMS.
standards for Committee and
positions and similar proposes the
industries in the remuneration
market by calculatingt of the Board of
the performance of Commissioners to the
the company. The GMS
committee gives
recommendations
to the Board of
Commissioners.
Remuneration Structure for Members of the f. If a meeting is held outside the schedule that has
Board of Directors been prepared as referred to above, the meeting
The remuneration package for members of the Board materials are submitted to the meeting participants
of Directors is paid regularly and the grouping of no later than before the meeting is held.
remuneration levels and the number of members of g. Meeting invitations are sent to participants at least 3
the Board of Directors who receive the remuneration (three) days before the meeting is held.
package in 1 (one) year, are disclosed in the Remuneration h. The President Director chaired the Board of Directors
Policy section of this report. meeting. If the position of the President Director is
vacant or the President Director is unable to attend
Board of Directors Meeting the meeting of the Board of Directors, one member
Board of Directors Meeting Policy of the Board of Directors is selected by the member
a. The Board of Directors is required to hold regular of the Board of Directors present at the meeting to
Board of Directors meetings at least 1 (one) time chair the meeting of the Board of Directors.
every month. i. A member of the Board of Directors may be
b. The Board of Directors must hold a meeting of represented at a meeting of the Board of Directors
the Board of Directors together with the Board of only by another member of the Board of Directors
Commissioners periodically at least 1 (one) time in based on a power of attorney.
4 (four) months. j. Meetings of the Board of Directors may be held if at
c. The Board of Directors must schedule a meeting of least 75% of the members of the Board of Directors
the Board of Directors or a joint meeting of the Board are present.
of Directors with the Board of Commissioners for the k. Decision-making in the Board of Directors meeting is
following year before the end of the financial year. based on deliberation and consensus. If consensus
d. Every policy and a strategic decision must be decided deliberation is not reached, the decision is made
through a meeting of the Board of Directors with due based on a majority vote. Decisions are made based
regard to the provisions of Danamon’s Articles of on the majority of votes referring to the principle of
Association and other laws and regulations. 1 (one) person 1 (one) vote.
e. At the scheduled meeting, the meeting materials are l. Every member of the Board of Directors who
submitted to the participants no later than 5 (five) personally in any way, directly or indirectly has an
days before the meeting is held. interest in a transaction, contract, or proposed
354
contract, in which Danamon is a party, must state p. Dissenting opinions that occur in the meeting of the
the nature of interest in the Board of Directors Board of Directors, must be clearly stated in the
Meeting and is not entitled to participate in the minutes of the meeting along with the reasons for
decision-making on matters relating to the proposed the difference of opinion.
transaction or contract unless the Board of Directors q. The Board of Directors may also take legal and
determines otherwise. binding decisions without holding a Board of
m. The results of the Board of Directors meeting must Directors meeting, provided that all members of the
be stated in the minutes of the meeting, signed by Board of Directors agree in writing by signing a decree
all members of the Board of Directors present, and containing the relevant proposal. Decisions taken
submitted to all members of the Board of Directors in this way have the same legal force as decisions
and the Corporate Secretary. taken legally at a meeting of the Board of Directors.
n. The results of the meeting of the Board of Directors
together with the Board of Commissioners must be Frequency of Board of Directors Meetings
stated in the minutes of the meeting, signed by all Throughout 2021, the Board of Directors has held 39
members of the Board of Directors and members of meetings consisting of 36 Board of Directors Meetings
the Board of Commissioners present, and submitted and 3 (three) Board of Directors Meetings inviting the
to all members of the Board of Directors and Board of Commissioners. All meeting decisions are
members of the Board of Commissioners and the documented in the minutes of the meeting. Decision-
Corporate Secretary. making in all Board of Directors meetings is carried out
o. If a member of the Board of Directors and/or a by deliberation and consensus and there is no dissenting
member of the Board of Commissioners does not opinion.
sign the results of the above meetings, the person
concerned must state the reasons in writing in Attendance Level of Members of the Board of Directors
a separate letter attached to the minutes of the at the Board of Directors Meeting and the Board of
meeting. Directors Meeting with the Board of Commissioners
Attendance Rate in
Attendance Rate in
Directors Board of Directors Meeting Invites
Board of Directors Meeting
Yasushi Itagaki 100% 100%
Honggo Widjojo Kangmasto 90% 100%
Herry Hykmanto 97% 100%
Rita Mirasari 97% 100%
Heriyanto Agung Putra 100% 100%
Dadi Budiana 97% 100%
Naoki Mizoguchi 100% 100%
Muljono Tjandra 97% 100%
Board of Directors Meeting Agenda

No Date Agenda
1 January 4, 2021 • D&O and BBB Insurance
• Review and approval of meeting minutes
• Manulife Updates
2 January 13, 2021 • CoC and NPL December 2020
• Update SKAI
• Employee Value Preposition
355
No Date Agenda
• Appointment of Accountants and Public Accounting Firm 2021
3 January 20, 2021
• December 2020 Financial Performance
4 January 24, 2021 • Update Manulife collaboration fee
• Review and approval of meeting minutes
5 January 26, 2021 • Laon workout case
• Sharing session agile transformation
• Review and approval of Meeting Minutes
• 2020 audit results
6 February 8, 2021
• CoC and NPL January 2021
• Frontline and enablement/KPI Dashboard release
• Review and Approval of Meeting Minutes
• SOS Implementation
• January 2020 Financial Performance
7 February 22, 2021 • FTP impact simulation
• Monthly report on Information Technology (IT) and Business Process Reengineering (BPR)
• CICD and Automation Roadmap for key application
• Prapatan Office
• BSC 2021
8 March 8, 2021
• Cost allocation
• CoC and NPL February 2021
9 March 18, 2021 • Covid 19 Vaccination
• Dividend payment
10 March 22, 2021 • BSC 2021
• Global Roll Out (GRO)
11 March 24, 2021 • Financial performance February 2021
12 April 5, 2021
• Adira Finance’s transformation initiative
• March 2021 Financial Performance
• CoC and NPL March 2021
13 April 20, 2021
• FX Spread Plus Action Law Suit
• SME business updates
14 May 3, 2021
• Kick-off RevisionBank Business Plan
• Financial Performance April 2021
• CoC and NPL April 2021
• Update SKAI
15 May 24, 2021
• Application Programming Interface (API) Banking
• Monthly report on Information Technology (IT) and Business Process Reengineering
(BPR)
• Covid 19 Vaccination
• Simplification project
16 May 31, 2021 • Resolution Plan
• Robotic Process Automation
17 June 7, 2021 • Revision of Bank Business Plan 2021
• Halo Danamon Plans and Projects
356
No Date Agenda
• CoC and NPL May 2021
18 June 21, 2021 • Monthly report on Information Technology (IT) and Business Process Reengineering
(BPR)
• Employee Value Proposition
19 June 24, 2021 Financial Performance May 2021
20 June 29, 2021 WFH special emergency situation
• EGMS
21 July 5, 2021
• LLP coverage analysis
• Danamon’s 65th Birthday
• CoC and NPL June 2021
• Malware detection and prevention
22 July 19, 2021 • Monthly report on Information Technology (IT) and Business Process Reengineering
(BPR)
• Simplification Project
• Company Support during the Covid 19 pandemic
23 July 21, 2021 • Financial Performance June 2021
24 August 3, 2021
• Ongko Group Case
25 August 16, 2021 • Mid-year 2021 projection
• CoC and NPL July 2021
26 August 24, 2021 • Financial Performance July 2021
• Audit 2021 Kickoff
• 3 Year Plan Kickoff
27 August 30, 2021 • Agile auditing approach at SKAI
• Information Technology (IT) and Business Process Reengineering (BPR) Reports
• Employee Engagement Survey
• Voice of Internal Customer
September 13,
28 2021
• Project policy
• BSD data center migration assessment
September 22,
29 • August 2021 Financial Performance
2021
• Update tax regulations
September 27,
30 2021
• CoC and NPL August 2021
31 October 11, 2021
• New Branch Project
• September 2021 Financial Review Performance
• CoC and NPL September 2021
• Roadmap strategy 2022
32 October 25, 2021
• Project Dashboard
• Branch Transformation
• Integration Risk Organizational Structure
357
No Date Agenda
• Discussion about BOC and BOD strategic meeting
33 November 8, 2021 • Update SKAI and SKAI 2022 plan
• e-money Project Status
November 10,
34 • 3 Year Bank Business Plans and Aspirations
2021
• Receivable Write off
• Harmonization of Tax Regulations
35 December 6, 2021
• Simplification project
• Risk Management Reorganization
• Trademark Registration
December 14, • 2021 Interim Audit Results
36
2021 • Unrecoverable Deferred Tax Asset
• 2017 tax audit status
Meeting Agenda of the Board of Directors with the Board of Commissioners

• Business Updates (CEO Update, Financial Update, Asset Quality Update, and Crisis
1 January 25, 2021
Command Center (CCC) Update
• 2021 Annual General Meeting of Shareholders (AGMS)
3 May 28, 2021
5 September 24, 2021
2022 Meeting Schedule its obligations to stakeholders. The Board of Directors

At the end of 2021, the Board of Directors has prepared carries out its duties and responsibilities, among others:
a schedule of meetings to be held in 2022 as many 1. Consistently following up on the implementation
as 25 (twenty-five) Board of Directors meetings and 3 of Danamon’s long-term strategy that has been
(three) Board of Directors meetings inviting the Board of formulated in 2020.
Commissioners 2. Take steps to encourage growth with prudence
principles on Danamon’s main business lines which
Attendance of Members of the Board of include Small & Medium Enterprises, Enterprise
Directors at the Annual GMS Banking, and Consumer Banking.
The Board of Directors’ accountability for the 3. Through the Crisis Command Center, monitor health
implementation of duties and responsibilities of the is protocols related to COVID 19, ensure optimal health
conveyed to shareholders through the 2021 Annual GMS. protection for employees and customers, in addition
A total of 10 (ten) members of the Board of Directors are to minimum disruption in operations and services.
present at the Annual GMS which will be held on April 4. Implement the government’s economic stimulus
30, 2021. program by providing credit relaxation to customers
affected by the COVID-19 pandemic in accordance
Implementation of duties and Responsibilities with the provisions of the regulator.
of the Board of Directors in 2021 5. Increase collaboration with MUFG in increasing
The Board of Directors carries out Danamon’s business credit, funding, process efficiency, and improving
activities in a directed and planned manner to fulfill human resource capabilities.
358
6. Increase investment in digital technology solutions Directors is carried out every 6 (six) months by the
to provide excellent customer service improvements President Director.
and automate operational processes to be more
efficient and effective
Opinion of the Board of Commissioners on
Board of Directors Performance Assessment the Performance of the Board of Directors
Performance Assessment Implementation Process The implementation of Danamon’s strategy and the
The performance appraisal of the Board of Directors is quick response of the Board of Directors succeeded
carried out based on the collegial work of all members in maintaining the stability of the Bank in facing
of the Board of Directors on the achievement of the economic challenges caused by the COVID-19
Danamon’s work plan. In addition, the performance pandemic. In 2021, the Bank managed to maintain
appraisal of the Board of Directors also considers the positive profitability with net income after tax reaching
duties and responsibilities of the Board of Directors Rp 1.57 trillion. Total loans disbursed by the Bank and
in accordance with the laws and regulations and/or its subsidiaries reached Rp 127.7 trillion, of which the
Danamon’s Articles of Association. Enterprise Banking segment managed to achieve an
annual growth of 6%, supported by collaboration with
Performance Assessment Criteria MUFG.
The criteria for evaluating the performance of the
Board of Directors are based on overall achievements From the aspect of asset quality, Danamon continues to
covering aspects of Financial, Franchise Building, Risk ensure risk management that adheres to the principle
and Control, Human Capital and Danamon Core Values, of prudence, and is always guided by the risk appetite
as follows: statement. As a result, Danamon managed to improve
1. Financial performance, asset quality despite challenging economic conditions.
2. Bank soundness level, The NPL ratio was at the level of 2.7%, an improvement
3. Capital, of 0.1% from the previous year of 2.8%. In addition, the
4. Risk profile, Bank also makes proactive reserves to strengthen the
5. Compliance with regulations, balance sheet. Due to this, the Bank succeeded in
6. Significance of audit results, increasing the NPL coverage ratio to a record high at the
7. Long-term goals and strategies, and level of 225.6%.
8. Implementation of corporate governance principles
Danamon’s capital level was successfully improved with
Appraisal a Capital Adequacy Ratio (CAR) recorded at 26.7%, well
The Board of Commissioners’ performance assessment above the minimum level set by regulations. This gives
is carried out by the Board of Commissioners and Danamon the ability to grow as well as the strength
the results of the Board of Directors’ performance to deal with the potential impact of the economic
assessment are taken into consideration in improving slowdown caused by the pandemic.
the effectiveness of the Board of Directors’ performance. For the good achievements in 2021, as well as the
In addition, the performance appraisal of the Board of dedication that continues to be shown, the Board of
Directors is submitted in the form of accountability for Commissioners expresses its highest appreciation to
the implementation of duties and responsibilities at the the entire Board of Directors.
Annual GMS.
Board of Directors Committee Performance
Performance Assessment of Members of the Assessment
Board of Directors During 2021, the Committees under the Board of
All members of the Board of Directors have performance Directors have performed their functions and made
targets as outlined in the balance scorecard in contributions that support the implementation of the
accordance with the duties and responsibilities of each duties and responsibilities of the Board of Directors.
member of the Board of Directors including compliance
management, risk control and human resources.
Performance appraisal of members of the Board of
359
Orientation Program for New Directors

Danamon has an orientation program for new members of the Board of Directors through the provision of an On-
Boarding Pack and short briefings by related units face-to-face to provide a better understanding of the organization,
duties, responsibilities, and processes in Danamon.
Board of Directors Training Program

Danamon provides opportunities for members of the Board of Directors to participate in various training programs,
certifications, workshops, and conferences to develop competence, professionalism, and insight on an ongoing basis.
Throughout 2021, members of the Board of Directors had attended training, certification, workshops, and conferences
as follows:
Training/ Conference/ Seminar/

Director Name Organizer Location Date
Workshop
2021 Code of Conduct Danamon Online April 5, 2021
Association
Webinar “Cross-Industry Collaboration of Indonesian
Online July 27, 2021
for Multifinance” Financing
Companies (APPI)
Yasushi ltagaki Danamon Compliance 2021 – Series 1 Danamon Online September 21, 2021
Danamon Compliance 2021 – Series 2 Danamon Online September 21, 2021
APU-PPT: The Role of FLOD & GRO Danamon Online January 4, 2021
ORM & QA 2020 Danamon E-learning January 4, 2021
Danamon Sustainability 2021 Danamon Online January 4, 2021
Bank Danamon
2021 Code of Conduct E-Learning April 12, 2021
Socialization of Changes in PMK

Honggo Widjojo Indonesia Exim
98/2021 in PMK 32/2021 (National Online May 7, 2021
Kangmasto Bank / LPEI
Economic Recovery Program)
Anti-Bribery and Corruption Policy and
Bank Danamon E-learning September 21, 2021
Consumer Protection
Collaborative Interactive Discussion to RI Ministry of
Online January 15, 2021
Support COVID-19 Vaccination Health
E-Learning Compliance 2020 Danamon Online January 25, 2021
MUFG-DANAMON THE INDONESIA 2021
MUFG-Danamon Online February 23, 2021
SUMMIT “THE FUTURE IS NOW”
Virtual Executive Roundtable -
Synpulse
*Building the Next-Gen Engine to Win Online April 15, 2021
Consulting
Millennials*
E-Learning ORM & QA 2020 Danamon Online June 9, 2021
Herry Hykmanto E-Learning Danamon Sustainability Danamon Online June 9, 2021
Halal Lifestyle Webinar with the
Ministry of Tourism and the Governor of IPEMI Jakarta Online June 29, 2021
Jakarta with IPEMI
Risk Management Certification – Effective Pro
Online September 2, 2021
Refreshment Program Consulting
McKinsey
1st Asia Transition Finance Online September 8, 2021
Consulting
McKinsey September 27,
2nd Asia Transition Finance Online
Consulting 2021
360

Workshop
National Seminar on Current Issues and September 29 &
Bank Indonesia Online
Problems in Trade Finance in Indonesia 30, 2021
Herry Hykmanto Workshop on Introduction to

Cooperatives and Regulations for
Danamon Online October 2, 2021
the Establishment of USPPS/Sharia
Cooperative
The potential of MSMEs in the Central
Java Region in the context of economic IBS Jakarta January 14, 2021
recovery in 2021
Socialization of PBI Payment System
BI Jakarta January 15, 2021
regulatory reform
Building optimism after the Covid 19
pandemic “Direction of Monetary Policy,
BI & Infobank Jakarta January 22, 2021
Macro-Prudential & Payment System to
optimize the PEN program”
Webinar launching the implementation
PPATK Jakarta February 1, 2021
of the goAML reporting application
Mandiri Investment Forum 2021-
Mandiri Bank Jakarta February 3, 2021
Reform After The Storm
Designing a digital technology-based
startup ecosystem to contribute to IBS Jakarta February 9, 2021
national economic development
Trainer: Level 3 (Executive) Compliance
Certification Workshop re: Compliance FKDKP Jakarta February 19, 2021
Director Reporting”
Webinar Gratification control and anti- FKDKP, OJK,
Jakarta February 22, 2021
bribery banking PPATK
MUFG-Danamon The Indonesia 2021
Rita Mirasari MUFG-Danamon Jakarta February 23, 2021
Summit “The Future is Now”
Roadmap for the development of
OJK Jakarta February 25, 2021
Indonesian Islamic banking 2020-2025
Indonesian
Socialization of the implementation of
chamber of
digital payment transactions through Jakarta March 3, 2021
commerce and
QRIS
Bank Indonesia
MUFG Overseas Management
MUFG Jakarta July 14, 2021
Compliance Workshop
Banking Digital Transformation OJK Jakarta July 15, 2021
FGD: Juridical Analysis of Transfer of
OJK Jakarta July 22, 2021
Receivables through Cessie
Implementation of the Information
Exchange Platform in the Context of
PPATK Jakarta August 2, 2021
Efforts to Prevent and Combat Criminal
Acts of Terrorism in Indonesia
2nd Small Group Meeting for
BDI-FCC Jakarta August 3, 2021
Compliance
Socialization of the Responsibilities of
Financial Services Providers (PUJK) for OJK Jakarta August 12, 2021
Fraud Actions by PUJK Employees
Socialization of Banking Provisions OJK Jakarta September 1, 2021
361

Workshop
Risk Management Certification
Bank Danamon Jakarta September 2, 2021
Refreshment Program
Trainer: BSMR Briefing Bank Danamon Jakarta September 9, 2021
Trainer: BSMR Briefing Bank Danamon Jakarta September 13, 2021
Level 3 Compliance Certification
FKDKP Jakarta September 23, 2021
Workshop Trainer
Rita Mirasari CEO Forum-The Future of Banking How September 30,

Perbanas Jakarta
Bank Stay Relevant 2021
Banking Transformation in the Digital

OJK Jakarta October 22, 2021
Age
Challenges and solutions to improve
global competitiveness through
digitizing value chain financing for OJK Bandung December 10, 2021
SMEs in the sharia financial business
ecosystem
Global HR Conference 2021 External Online March 23, 2021
Effectiveness of Supervisory Board
of Commissioners to maintain Bank
External Online March 25, 2021
Compliance Towards the Era of
Principle-Based Regulation
COMPLIANCE 2020 Online EAZY April 16, 2021
CODE OF CONDUCT 2021 Online EAZY April 16, 2021
ANTI BRIBERY CORRUPTION (Anti-
Online EAZY April 22, 2021
Bribery and Corruption)
Danamon Sustainability Online EAZY April 23, 2021
Elearning ORM & QA – 2020 Online EAZY April 24, 2021
Refreshment Risk Management
Internal Online September 2, 2021
Certification
Danamon Sustainability 2021 Online EAZY December 27, 2021
Heriyanto Agung
Putra APU PPT: The Role of First Line of
Online EAZY December 27, 2021
Defense (FLOD) & Global Roll Out (GRO)
Danamon Compliance 2021 - Series 1 Online EAZY December 27, 2021
Danamon Compliance 2021 - Series 2 Online EAZY December 27, 2021
HR Meet And Talk - ReThinking HR External Online July 29, 2021
The heating battle for Digital Banking
Opportunity in the Asia Pacific: Can External Online August 11, 2021
incumbents thwart the attack?
OJK: Invitation to Socialization on the
Responsibilities of Financial Services
External Online August 12, 2021
Businesses (PUJK) for Fraud Acts of
PUJK Employees
Talent Acquisition for Future Works External Online September 15, 2021
Strategy to Recruit Talent with High
External Online September 15, 2021
Learning Skills – Main Message
362

Workshop
Indonesia HC Award & National
Zoominar
Beyond Recovery: The Bridge to Growth External Online September 21, 2021
HR Tech Festival Asia Online 2021 -
HRM Asia
PLN Webinar - HC Insight: Digital HR
Operation: Transformation Towards External Online September 21, 2021
Intelligence Services
Indonesian Chamber Of Commerce- September 23,
External Online
Virtual Business Dialogue 2021
SWA - Webinar Indonesia HR Future September 28,
External Online
Readiness Rating 2021 2021
IPB Career Day External Online October 3, 2021
ITB User Gathering External Online October 25, 2021
ITB Virtual Career Fair 21 - Redefining
External Online October 27, 2021
work to adapt to the new ways of work
CHRO Indonesia 2021 External Online October 28, 2021
Competent Indonesian National
External Online October 28, 2021
Congress II - GNIK
Heriyanto Agung Into the Future: Make Agility and
Putra External Online November 9, 2021
Employee Experience Your Advantage
PwC: Getting Zero Trust Security Right
External Online November 16, 2021
in Today’s Uncertain World
OTI Webinar: How to Get Great Results
External Online November 16, 2021
From Company by Strategic Alignment
Tanoto: Exemplary Program External Online November 25, 2021
PwC: Global Culture Survey 2021 - The
link between culture and competitive External Online December 2, 2021
advantage
OJK Institute: Leadership Sharing
Session - HR Development in the External Online December 2, 2021
Digital Age
PPM: Agile Talent & Human Capital:
Preparing Organization for Dynamic External Online November 4, 2021
Future Business Ecosystem
SHL: Leveraging the Value of Emerging
External Online December 7, 2021
Leaders
HR Expo: Organization Development
Strategy
SWA NBO: Advancing HR Framework to
Build Agile Workforce
363

Workshop
2021 Code of Conduct Bank Danamon Online April 1, 2021
Danamon Sustainability 2021 Bank Danamon Online August 6, 2021
Dadi Budiana Danamon Compliance 2021 – Series 1 Bank Danamon Online August 6, 2021
Danamon Compliance 2021 – Series 2 Bank Danamon Online August 6, 2021
Refreshment Risk Management
Effectivepro Jakarta September 2, 2021
Certification
APU PPT: Customer Due Diligence (2018) BDI EAZY January 18, 2021
Risk Management Essentials BDI EAZY January 25, 2021

MUFG-DANAMON The Indonesia 2021
MUFG & BDI Online February 23, 2021
Summit “The Future is Now”
Perbanas Invitation: Study of the
Potential for Credit Growth in the
PERBANAS Online February 26, 2021
Economic Sector in the Corporate and
MSME Segments
Muljono Tjandra 2021 Code of Conduct BDI EAZY April 7, 2021

APU PPT: The Role of First Line of
BDI EAZY June 15, 2021
Defense (FLOD) & Global Roll Out (GRO)
Danamon Sustainability 2021 BDI EAZY June 15, 2021
Danamon Compliance 2021 - Series 1:
Anti-Bribery & Corruption (ABC) and BDI EAZY July 3, 2021
Consumer Protection.
MUFG - Global
(EMEA & APAC) MUFG Overseas
Compliance Online July 14, 2021
Management Compliance Workshop
Division
Danamon Compliance 2021 - Series 2 BDI EAZY October 11, 2021
364

Workshop
MUFG-Danamon The Indonesia 2021
Bank Danamon Zoom February 23, 2021
Summit “The Future Is Now”
Webinar - Fitch on Indonesia 2021:
Navigating a Post-Pandemic World (Part The Fitch Group Zoom March 24, 2021
1)
Webinar - Fitch on Indonesia 2021:
Navigating a Post-Pandemic World (Part The Fitch Group Zoom March 31, 2021
2)
BCG’s CxO Virtual Conference – AMICUS BCG Zoom April 28, 2021
Naoki Mizoguchi
Digital Community Workshop Q1-21 Bank Danamon Webex May 19, 2021
BCG’s CxO Virtual Conference - AMICUS BCG Zoom August 11, 2021
Risk Management Certification -

Bank Danamon Webex September 2, 2021
Refreshment Program
Renewables in Southeast Asia: what
perspectives could emerge beyond EY Zoom September 22, 2021
COP26
BNP Paribas Sustainable Future Forum
BNP Paribas Virtual October 20, 2021
2021 - Global Edition
365
COMMITTEES UNDER
THE BOARD OF DIRECTORS
In order to support the effectiveness of the The committees under the Board of Directors are as
implementation of the duties and responsibilities of follows:
the Board of Directors, the Board of Directors has 1. Risk Management Committee
committees under the Board of Directors whose task is 2. Human Resources Committee
to assist the Board of Directors in providing suggestions 3. Assets & Liabilities Committee
and recommendations that can be used as a reference 4. Information Technology Steering Committee
in making decisions regarding the implementation of the 5. Integrated Risk Management Committee
duties and responsibilities of the Board of Directors. 6. Sustainability Committee
7. Real Estate Committee
RISK MANAGEMENT COMMITTEE
Structure and Membership of the Committee
Committee
President Director
chairperson
Alternate
Integrated Risk Director
Chairperson
Permanent
Board of Director
Member
Non Permanent • Executive Officer – Board of Management
Member • Executive Officer
If deemed necessary, the Risk Management Committee a. Assist the Board of Directors in fulfilling its
will invite other internal parties including Subsidiaries to responsibility related to risk management
attend the meeting. b. Development of risk management strategies, policies
and frameworks, including the establishment of
Risk Management Committee oversees 2 (two) Sub- Risk Appetite parameter and thresholds, Key Risk
Committees which are Credit Policy Sub-Committee Indicators and Risk Tolerance limits to help establish
and Information Disclosure Sub-Committee. Further boundaries within which the Banks’ management
explanation regarding the Sub-Committees can refer to may operate towards achieving their business
Risk Management section. objectives.
c. Development of contingency plans to anticipate
Status of Voting Rights and Decision Making various risks that may emerge from time to time and
The adoption of Committee meeting resolutions shall enable the Bank to continue to operate even under
be done by consensus. In the event a consensus cannot stressed conditions.
be reached, the adoption of resolutions shall be done by d. Ensure Good Corporate Governance in the
majority vote. Only permanent members will have voting implementation of Risk Management, with
rights. In the event the vote is a tie, the Committee appropriate frameworks for the timely identification,
Chairperson or Alternate Chairperson (if Committee measurement and escalation of risks, and approval
Chairperson is unable to attend the meeting) is of exposure to Related Parties as well as deviations
authorized to determine the decision. of business policies and/or decisions.
e. Ensure that all business and operational activities
Roles and Responsibilities of the Committee are in-line with the prevailing regulations, risk
Risk Management Committee is responsible for evaluating policies and procedures, with approval and oversight
and giving recommendation to President Director and the over exceptions, deviations and violations that may
Board of Directors on matters related to: have occured.
366
Committees Under The Board Of Directors
f. Ensure that the Bank maintains sufficient provisions • Compliance risk, including financial crime risk;
and reserves to protect against the realisation of • Strategic risk; and
potential inherent risks, as well as ensure that the • other major risk issues periodically.
Bank has sufficient disaster recovery procedures for h. Implementation of risk management process and
business continuity. remedial actions in line with external and internal
g. Review of the various existing and emerging risks changes that may affect capital adequacy ratio and
faced by the Bank, including: their respective risks profiles.
• Credit risk; i. Assess the Bank’s Risk organization and
• Market and Liquidity risk; infrastructure to ensure that risk management
• Operational risk and Fraud; processes, systems and tools are in line with the
• Reputational risk; organization’s development and business plan.
• Information Security and Information Technology j. Oversee and evaluate sub-commitees under Risk
risk; Management Committee.
• Legal and Litigation risk;
Risk Management Committee Meeting

During 2021, the Committee held 10 meetings and was attended by the following members of the Board of Directors:
Total Attendance of Board of
Name Position Directors Members in Risk
Management Committee Meetings
Yasushi Itagaki Committee Chairperson 10
6 (resigned at the end of July
Adnan Qayum Khan (Alternate Chairperson)
2021)
Honggo Widjojo Kangmasto Permanent Member 10
6 (resigned at the beginning of
Michellina Triwardhany Permanent Member
September 2021)
Dadi Budiana Permanent Member 10
• Permanent Member
Rita Mirasari • Alternate Chairman –Integrated Risk Director 10
(acting) since RMC meeting in August 2021
Herry Hykmanto Permanent Member 10
Heriyanto Agung Putra Permanent Member 9
Naoki Mizoguchi Permanent Member 10
Muljono Tjandra Permanent Member 9
Risk Management Committee Meetings 2021

Month Date Agenda
Update on Risk Management, Compliance, Legal, Consumer Product, IT
January January 20, 2021
Security, EB Remedial
Update on Risk Management, Compliance, Consumer Product, IT
February February 22, 2021
Security
March March 22, 2021 Update on Risk Management, Compliance, TB Product, SKAI, IT Security
April April 26, 2021 Update Risk Management, Compliance, Legal, IT Security
Update on Risk Management, Compliance, Consumer, IT Security, MUFG
June June 21, 2021
Information Sharing Framework
July July 19, 2021 Update on Risk Management, Compliance, Legal, SKAI, IT Security, SPM
367
Month Date Agenda

Update on Risk Management, Compliance, Legal, Consumer Segment,
August August 23, 2021 Consumer Product, Information Disclosure Sub-Committee (IDSC), HC -
New Attrition Threshold Proposal, IT Security
Update on Risk Management, Credit Portfolio, Compliance, HC - New
September September 20, 2021
Attrition Threshold Proposal, SKAI
October October 22, 2021 Update on Risk Management, Credit Portfolio, Compliance, Litigation
November November 18, 2021 Risk Management Update, Credit Portfolio, Compliance
ASSETS & LIABILITIES COMMITTEE (ALCO)

Chairman President Director
Alternate Chairman Chief Financial Officer (CFO)
Member Directors or appointed members of the following Division/Business Unit:
• Sales & Distribution, SME and Consumer Banking
• Integrated Risk
• Treasury & Capital Market
• Enterprise Banking & Financial Institution
• Transaction Banking
Status of Voting Rights and Decision Making to approve best course of action.
ALCO consists of members who have the same voting e. To review and determine the Balance Sheet structure
rights, if there is a member of the committee who to improve profitability.
cannot attend the meeting then he/she can appoint f. To review funding composition and to approve any
a replacement with voting rights. Delegation of voting change in funding strategy and alternatives including
rights must be obtained prior to approval from the new institutional/structural funding.
Chairman of the Committee. The resolution of the g. To review the following topics on monthly basis:
meeting should be adopted based on the deliberation • Economic Overview and Market Outlook
to reach a consensus. ln the event no consensus can • Recent movement of the key components of the
be reached, the resolution shall be adopted by means balance sheet, Yield/COF and NIM
of majority voting. • Fund Transfer Pricing (FTP)
• Funding and lending products pricing
Duties and Responsibilities of the Committee • Market and liquidity risk profile on the balance
Assets & Liabilities Committee has duties and sheet, AFS portfolio and trading book
responsibilities, among others: • Contingency Funding Policy (CFP) monitoring
a. To establish committee coverage, meeting • Capital management and other matters related
procedures, working process and sets sub to ALCO
committees to support ALCO. h. On a periodic basis, review and approve the
b. To determine the policies and guidelines for followings:
liquidity risk, interest risk, and capital management • Market and Liquidity Risk limit framework for
of Danamon and its subsidiary which reflect Balance Sheet, AFS Portfolio and Derivatives for
the adequacy of liquidity and capital, stable and funding
diversified funding profile, with compliance to all • Liquidity and Interest Rate Risk stress test
regulatory requirements. assumptions
c. To determine issuance of securities or instruments in • Core balance calculation for interest rate risk,
the framework of providing the Bank with adequate liquidity risk and FTP calculation
liquidity, capital and diversified funding structure. • FTP policies and methodology
d. To evaluate market condition and its likely impact on • Contingency Funding Plan (CFP) policies
Danamon’s liquidity condition, NII, and capital, and • Rasio Intermediasi Makroprudensial (RIM) target
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Assets & Liabilities Committee Meeting
During 2021, the Committee held 11 meetings and was attended by the following members:
Number of Attendance of Members in ALCO
Name Position
Committee Meetings
Yasushi Itagaki Chairman 11
Muljono Tjandra Alternate chairman 11
Michelina Triwardhany 1)
Member 8
Honggo Widjojo Kangmasto Member 10
Adnan Qayum Khan 2)
Member 6
Andrew Suhandinata Member 10
Herman Savio Member 11
Rita Mirasari 3)
Member 4
Note:
1)
Michelina Triwardhany has resigned since September 2021
2)
Adnan Qayum Khan has resigned since July 2021
3)
Rita Mirasari has started to join in the ALCO meeting since July 2021 as an acting Integrated Risk Director, replacing Adnan Qayum Khan
Implementation of Duties of Assets & (RIM), Liquidity Coverage Ratio (LCR) and Net Stable
Liabilities Committee in 2021 Funding Ratio (NSFR)
The Assets & Liabilities Committee held meetings to • Review of capital
discuss the materials which cover: • Professional funding management
• Economic & Market Outlook • Available For Sale (AFS) / Fair Value-Other
• Balance sheet management and the Bank’s business Comprehensive Income (FVOCI) portfolio
direction management
• Fund Transfer Pricing (FTP) Rate Management • Changes on or new regulations related to liquidity
• Review of interest rates for loans and third-party and balance sheet
funds • Proposal and management of balance sheet limit
• Review of market and liquidity Risk structure
• Management of Rasio Intermediasi Makroprudensial • Contingency Funding Plan (CFP)
In general, the materials are discussed in the ALCO meeting agenda as follows:
Month ALCO Meeting Agenda
• Economic & Market Outlook
• Update on Balance Sheet and Market & Liquidity Risk Management
January 29 January 2021
• FTP and CASA Pricing Guidelines review
• Risk Limit Review 2021
February 26 February 2021
• FTP and Prime Lending Rate review
• Update Danamon’s Bond Programme
March 30 March 2021
• CFP Liquidity Stage Management
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Month ALCO Meeting Agenda

5 May 2021 • Update on Balance Sheet and Market & Liquidity Risk Management
May • FTP and Prime Lending Rate review
31 May 2021
June 29 June 2021 • Update on Balance Sheet and Market & Liquidity Risk Management
July 30 July 2021 • Update on Balance Sheet and Market & Liquidity Risk Management
• FTP review
August 31 August 2021 • Update on Balance Sheet and Market & Liquidity Risk Management
September 30 September 2021 • Update on Balance Sheet and Market & Liquidity Risk Management
• FTP review
October 29 October 2021
• Prime Lending Rate review
• CFP Monitoring Indicators
November 30 November 2021
• CFP Liquidity Stage Management
IT STEERING COMMITTEE

Committee Structure and Membership
Chairman Finance Director
Alternate Chairman Chief Financial Officer (CFO)
Member • Chief Information Officer
• Consumer, SME & Branch Network Director
• Enterprise Banking Director
• Integrated Risk Director
• Global Alliance Strategy Director
• Digital Head
Other Invitees depending on the areas/projects of Voting Rights Status and Decision Making
relevance or due to Bank’s strategic projects In the Each committee member has the same voting rights.
absence of a Director in any of the above-mentioned The resolution of Meeting should be adopted based
positions, the Committee can designate a person to on the deliberation to reach a consensus. In the event
be a voting member until the Director position is filled. no consensus can be reached, the resolution shall be
The BoD reserves the right to change ITSC member adopted by means of voting, based on the approved
composition at any given time. votes of more than ½ (half) of the total votes validly cast
in the said meeting.
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Committee Duties and Responsibilities implemented and/or used for the bank
The Information Technology Steering Committee (KPTI) e. Review recommendations from other sub/ working
has the following duties and responsibilities: committees for matters related to Information
a. Periodically review and recommend Bank’s IT Technology.
strategic plan, and ensure alignment of IT projects f. Provide recommendations for solving IT related
with the strategic plan. issues that can’t be resolved by the working unit of
b. Review and recommend IT projects align with Bank’s IT users and providers in an effective, efficient and
strategy that proposes by IT project prioritization timely manner.
team with Capex investment equal to or greater g. Perform such other duties and responsibilities as
than USD 500 thousands or its equivalent in IDR. may be assigned to the Committee, from time to
c. Review post implementation of strategic projects & time, by the BoD.
benefit realization after implementation in terms of h. Prepare committee’s activities report every year
cost and benefit. Project that approved through ITSC
meeting with investment amount equal to or greater Information Technology Steering Committee
than USD 500 thousands and had implemented Meeting
project will be tracked by CPS and result will be ITSC meeting shall be held periodically 1 (one) time in 1
presented by respective user/LoB in ITSC meeting. (one) month. ITSC meeting can also be held at other times
d. Ensure the allocation of adequate and proper IT whenever deemed necessary. ITSC meeting shall be led
resources. If required to engage a third party to assist by the Committee Chairman. If the Committee Chairman
in project implementation, ITSC should ensure is unable to attend the meeting, then Chairman can
that policies and procedures are in place according appoint alternate Chairman from permanent members
to bank internal policy and involve Procurement with voting. Meeting is deemed quorum if attended by
in relation to third party engagement and IT from Chairman or Integrated Risk Director and attended by
the beginning if this related with technology to be 2/3 of the members.
During 2021, the Committee held 15 (fifteen) meetings and was attended by the following members of the Board of
Directors:
Total Attendance of Members of the Board of Directors in
Name Position
Information Technology Steering Committee Meetings
Muljono Tjandra Chairman 15
Naoki Mizoguchi Member 15
Thomas Sudarma Member 8
Mahesh Ajit Ranade Member 15
Andreas Kurniawan Member 7
Rita Mirasari Member 5
Yasushi Itagaki Member 3
2021 Information Technology Steering Committee Meeting

Nr Bulan Tanggal Rapat Agenda
1 January 11 January 2021 Digital Consumer Loan
2 January 29 January 2021 Omnichannel R6
3 February 24 February 2021 MUFG Group Reporting
4 March 16 March 2021 Cash Online
5 April 6 April 2021 New D – Wallet
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Nr Bulan Tanggal Rapat Agenda

6 May 7 May 2021 BI-Fast
7 May 7 May 2021 Nice-Actimize AML System
8 May 21 May 2021 IFRS9 Project phase 3
9 June 29 June 2021 CICD Project
10 July 1 July 2021 P2P Lending Phase 2 and 3
11 August 3 August 2021 Credit Card Digital Onboarding
12 August 3 August 2021 SME LOS Enhancement
13 September 21 September 2021 API Strategy and Execution
14 September 21 September 2021 Treasury System Upgrade
15 September 30 September 2021 IT Project Prioritization (3 years plan 2022-2024)
HUMAN Capital COMMITTEE

Chairman President Director
Alternate Chairman, Secretary Human Capital Director
Member • Vice President Director Consumer, SME & Branch Network*
• Vice President Director Corporate Banking
• Integrated Risk Director**
• Credit Director***
Note:
* Resigned effective September 2021
** Resigned effective July 2021
*** Assign as Human Capital Committee member effective August 2021
Members of the Human Capital Committee consist of 4 including promotion

Directors member as the table above. The Human Capital • Talent Management and Succession Planning
Committee is responsible to the Board of Directors, and • Organizational structure and rank level
routinely reports its activities to the Board of Directors. • Employee Training and Development
• Corporate culture and values as well as
Status of Voting Rights and Decision Making employee engagement
Each Committee member has equal voting rights. Every • Employee and industrial relations development
decision taken through the HR Committee Meeting must • Alignment of policies with subsidiaries
be decided unanimously. In the event that consensus • Human Resources Planning
cannot be reached, the decision will be made by majority • Organizational Health and Safety
vote. The Chairman of the Human Capital Committee 2. Carry out other duties and responsibilities that may
has the right to determine the final decision. be granted by the Board of Directors to the HC
Committee, from time to time.
Duties and Responsibilities of the Committee 3. The HC Committee may establish sub-Committees
1. Provide strategic directions and develop general to undertake the scope of duties and responsibilities
policies in the field of Human Capital including the of the HC Committee.
amendments, in the areas as the following (but not
limited to): Human Capital Committee Meetings
• Human Resources Strategy During 2021, the Committee held meetings and was
• General Policy on Employment attended by the following members of the Board of
• Employee compensation and benefit Directors:
• Performance Assessment Management,
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Human Capital Committee Meetings

Total Attendance of Board of Directors Member in
Name Position
Human Resources Committee Meetings
Alternate Chairman,
Heriyanto Agung Putra 11
Secretary
Michellina Laksmi Triwardhany Member 6
Adnan Qayum Khan Member 4
Dadi Budiana Member 5
The results of the Committee Meetings must be stated in a well-documented Minutes of the Meeting. A meeting is
declared a quorum if attended by at least 2/3 of the members of the Human Resources Committee.
Work Implementation of the Human Capital Committee in 2021

The Human Resources Committee has held meetings with the following topics to discuss:
No. Date Agenda
• Finalize Bellcurve End Year 2020
1 17 February 2021
• Update PKB & DRK
• Finalization Senior Promotion
2 02 March 2021
• Update & Discussion on CLA
• CLA Negotiation
3 16 April 2021 • Karyawan Danamon Peduli
• 1st Talent Council
• Update on KDP
• Update on EES 2021
4 18 June 2021 • Update on BISA Value
• Update on VoiC
• Update on EVP
• Update on CLA
5 15 July 2021
• Update Compensation align with job simplification and cost impact
• Update EES 2021

6 13 August 2021
• Update Survey Internal Customer (VoiC)
• The 2nd Talent Council update
7 16 September 2021
• Risk Tolerance for attrition rate
• 2021 Annual leave carry forward proposal
8 15 October 2021
• Danamon Young Leader Program
• Update o Human Capital Management System (HCMS)
• Update on HC Chatbot & WA Messenger Blast
9 05 November 2021
• Update on Club Membership Benefit
• Top Talent Development Program
10 08 December 2021 The 3rd Talent Council
• Update on Employee Value Proposition (EVP)
11 09 December 2021 • Update on Code of Conduct
• Broadband Structure and Compensation Design
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INTEGRATED RISK MANAGEMENT COMMITTEE
The discussion regarding the Integrated Risk Management Committee is disclosed in the Integrated Governance
Report section.
SUSTAINABILITY COMMITTEE
Sustainability Committee is a committee at Board of Directors level which was established in order to implement
Sustainable Finance in Bank Danamon in accordance with the provisions of the Regulator. Sustainability Committee
is responsible to Board of Directors.
Committee Structure and Membership

Chairman of Committee
(Chairman is also as permanent President Director
member)
Alternate Chairman (Alternate
Chairman is also as permanent Sharia & Sustainability Finance Director
member)
Permanent Member • Vice President Director
• lntegrated Risk Director
• Credit Director
• Compliance Director
• Finance Director
• Human Capital Director
Non-Permanent Members: Sustainability Team
Secretary: Credit & Enterprise Risk Management
The Board of Directors reserves the right to change b. Conduct review on the development of Sustainable
the composition of this Committee at any given time. Finance Action Plan (SFAP) and Sustainability Report.
lf deemed necessary the Committee may invite other c. Monitor Bank’s performance development related
parties to attend the meeting. to Sustainability, especially the implementation of
SFAP to ensure the implementation is in line with
Voting Rights Status and Decision Making the action program and its achievement according
The adoption of Committee meeting resolutions shall to the target.
be done by consensus. ln the event a consensus cannot d. Conduct review on Sustainability Policy and its
be reached, the adoption of resolutions shall be done amendment.
by majority vote. Only permanent members who have e. Review and approve the credit-related sustainability
voting rights. In the event the vote is a tie, the Chairman framework and guidelines and monitor their
of Committee or Alternate Chairman (if Chairman of implementation.
Committee is unable to attend the meeting) is authorized f. Monitor the implementation of Sustainable Finance
to determine the decision. training and awareness programs in order to create
a culture where Management and Employees always
Committee Duties and Responsibilities consider sustainable finance aspects in carrying out
The Sustainability Committee has the following duties business and operational activities.
and responsibilities:
a. Review and approve the priority issues, action
programs and targets related to Sustainability.
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Sustainability Committee Meeting lf the meeting does not reach quorum and the agenda
Regular meeting of Sustainability Committee is held is urgently required to be discussed, then the meeting
every quarter and ad-hoc basis. The meeting is led should be rescheduled within 24 hours. Meeting agenda
by the Chairman of Committee. lf the Chairman of is acknowledged by the Chairman of Committee or
Committee is unable to attend, then can be replaced by Alternate Chairman. Meeting agenda will be circulated
Alternate Chairman. by the Committee Secretary to all Sustainability
Committee members.
Each member as individual or group can call an
extraordinary meeting to discuss very urgent topic(s) / Decisions or approval of Sustainability Committee meeting
problem(s) by notifying the Committee within not less shall be in the form of minutes of meeting that is documented
than 1 x 24 hours. properly and signed by the Permanent Members, also
attached by the list of meeting attendees. The minutes of
Meeting of the Committee can only be convened if meeting that already signed should be administrated by
attended by at least 51% (fifty-one percent) of the the Secretary. Formal decision is binding to all Sustainability
total number of permanent members (including the Committee permanent members. The committee can also
Chairman of Committee or the Alternate Chairman) make a valid and binding decision through circulation of
both physically and/or virtual. internal committee memorandum if an urgent decision is
needed and it is not possible to conduct a meeting.
During 2021, the Committee held 1 (one) meeting and was attended by the following members of the Board of
Directors:
Total Attendance of Permanent Members of the
Name Position
Committee in Sustainability Committee Meetings*
Herry Hykmanto Alternate Chairman 1
Honggo Widjojo Kangmasto Permanent Member -
Dadi Budiana Permanent Member 1
Rita Mirasari Permanent Member 1
Heriyanto Agung Putra Permanent Member 1
Naoki Mizoguchi Permanent Member 1
Muljono Tjandra Permanent Member 1
*The Sustainability Committee under the new Board of Directors was formed in October 2021
2021 Sustainability Committee Meeting
Month Committee Meeting Date Agenda
Approval of the Sustainability Policy, Sustainability Credit

November 2 November 2021 Guideline, and Sustainable Finance Action Plan, as well as updates
on Disclosures related to Carbon Neutrality
375
REAL ESTATE STEERING COMMITTEE
Real Estate Steering Committee (“REC”) of Bank Danamon acts as the apex body entrusted to help directors to
monitor Real Estate related activities.
Alternate Chairman (Alternate
Chairman is also as permanent Chief Executive Officer (CEO)
member)
Members • Sharia, CREM and Micro Banking Director
• Chief Financial Officer (CFO)
• Chief of Credit Officer and Legal Director
In the absence of a Director in any of the above mentioned g. Regular review on Real Estate Risk Management
positions, the Committee can designate a person to be covering the following topics:
a voting member until the Director position is filled. • Critical/ strategic ongoing projects.
The BoD reserves the right to change “REC” member • Health & Safety Environtment (HSE) issues.
position at any given time. Other invitees depending on • Real Estate Audit finding and corrective actions.
the areas/ projects of relevance. • Legal and permit issues related to Real Estate
h. Review recommendations from other sub/
Voting Rights Status and Decision Making committees for matters related to Real Estate.
The resolution of Meeting should be adopted based i. Perform other duties and responsibilities that may
on the deliberation to reach a consensus. In the event from time to time assigned by the Board of Directors.
no consensus can be reached, the resolution shall be j. Provide recommendations for solving Real Estate
adopted by means of voting, based on the approved related issues that can’t be resolved by the working
votes of more than ½ (half) of the total votes validly cast unit of property users and providers in an effective,
in the said meeting. efficient and timely manner.
k. Prepare REC Activities Report every year.
Role and Responsibilities
The REC Committee has the following duties and REC Meeting in 2021
responsibilities: REC meeting shall be held periodically 3 (three) times
a. Responsible in development planning and monitoring in 1 (one) year and can also be held at other times
of Bank Danamon’s Real Estate. whenever deemed necessary. REC meeting shall be led
b. Periodically to review, recommend and decide Bank’s by the Committee Chairman. If the Committee Chairman
Real Estate strategic plan, and ensure alignment of is unable to attend the meeting, then Chairman can
real Estate projects with the strategic plan. appoint alternate Chairman from permanent members
c. Review, recommend and decide Real Estate policy with voting. Meeting is deemed quorum if attended by
of Asset Purchase and Selling, Development Project, Chairman or appointed, namely the Sharia Director,
Asset Optimizing and Lease Management. SEMM & CREM and is attended by 2/3 of the members.
d. Review all Real Estate projects align with Bank’s
strategy or with Capex investment more than USD 1 The results of the REC meeting must be stated in
million or its equivalent in IDR. Minutes of Meeting and well documented. Any dissenting
e. Review policy, recommendation and decide the opinions in the REC meeting must be clearly stated in
operation activities of office building and branches the minutes of meeting together with the reasons of the
related to HSE (Health and Safety Environtment). dissenting opinion. Minutes of each meeting will be kept
f. Review policy and evaluate regularly design and distributed by CREM Head to each member and
guidelines of offices and branches. Bank’s Corporate Secretary.
376
During 2021, the Committee held 2 (two) meetings and was attended by the following members of the Board of
Directors:
Total Attendance of Committee Members in

No Name Position
Real Estate Committee Meetings
1 Yasushi Itagaki Chairman 2

2 Herry Hykmanto (HH) Member 2
3 Muljono Tjandra (MT) Member 2
4 Naoki Mizoguchi (NM) Member 2
5 Dadi Budiana (DB) Member 2
REC Meeting in 2021
Committee
Month Agenda
Meeting Date
• Building Health and Sanitation

• BDI Prapatan Status
• Update on Satellite Office
March 10 March 2021
• Propose New Price of Idle Asset
• Land Kebagusan (illegal occupier)
• BLBI (certificate under Ministry of Finance)
• Building Health and Sanitation
• BDI Prapatan Status
• Update on Satellite Office
August 9 August 2021
• Progress Selling of Idle Asset
• Land Kebagusan (illegal occupier)
• BLBI (certificate under Ministry of Finance)
377
AFFILIATED RELATIONSHIPS AND

TRANSACTIONS OF THE BOARD
OF DIRECTORS, THE BOARD OF
COMMISSIONERS AND MAIN
SHAREHOLDERS
Danamon has a Policy for Transactions with Affiliated Affiliation relationship between members
Parties which regulates transactions with affiliated of the Board of Commissioners and other
parties. This policy stipulates that the affiliate transaction members of the Board of Commissioners and
process is carried out based on normal and reasonable the Major and/or Controlling Shareholders
commercial terms and does not harm the interests of All members of the Board have no affiliation with other
Danamon or minority shareholders. members of the Board of Commissioners. There are 3
The Board of Commissioners and Board of Directors (three) Non-Independent Commissioners which have
of Danamon always maintain independence and do financial relationships with controlling shareholders,
not have conflicts of interest that could interfere with namely: Takayoshi Futae, Nobuya Kawasaki, Takanori
their ability to carry out their duties professionally and Sazaki.
objectively.
The affiliation relationship between the board members,
Affiliation relationship between members the Board of Commissioners, and the Major and/or
of the Board of Directors and other Controlling Shareholders has been disclosed in the
members of the Board of Directors, members table of financial and family relationships on the Board
of the Board of Commissioners, Major of Commissioners and the Board of Directors part in this
Shareholders and/or Controlling Governance report.
All members of the Board of Directors of Danamon
have no affiliation with other members of the Board of The Policy for Transactions with Affiliated Parties
Directors, members of the Board of Commissioners and requires members of the Board of Commissioners and
with the major and/or controlling shareholders. the Board of Directors to disclose any planned affiliated
transactions, whether carried out by themselves or
their families to the Corporate Secretary. The material
transaction plan will be reviewed by the Compliance
Director and subsequently reported to the Audit
Committee. In the event of a Conflict of Interest, the
Board member of Directors and the Board member
of Commissioners must abstain from the process of
reviewing and approving the transaction.
378
CORPORATE SECRETARY
The function of the Corporate Secretary is to ensure the delivery of information on Danamon in a timely and accurate
manner to all stakeholders. The Corporate Secretary is appointed and dismissed based on the decision of the Board
of Directors. The Corporate Secretary has an important role in creating good communication between Danamon and
shareholders and other stakeholders.
Corporate Secretary Organizational Structure
Corporate Secretary
Head of Corporate Secretary
Corporate Secretary Officer
Corporate Secretary Profile

Rita Mirasari is a Director of Danamon who has served as Corporate Secretary of Danamon since October 24th,
2016 based on decision No.KSR-DIR.Cor.Sec-003 dated October 17th, 2016 regarding the Appointment of Corporate
Secretary.
Rita Mirasari
Corporate Secretary
Indonesian citizen, 53 years old and domiciled in Indonesia.
She completed her education and earned her Bachelor of Laws degree from the
University of Indonesia. She started her career in Banking since 1991 as Legal Officer
at a local bank and has extensive experience in the fields of law, compliance as
well as being a corporate secretary at various leading banks in Indonesia. Her
last position before joining Danamon was as a Director of Regulatory Compliance
& Financial Crime Compliance HSBC, Indonesia. Currently, she is the Director
of Compliance, Financial Crime Compliance and Corporate Secretary and is
responsible for the Temporary Integration Risk Officer.
The full profile is listed in the Board of Directors Profile.
Duties and Responsibilities of the Corporate • submission of reports to the Financial Services
Secretary Authority and other authorities,
1. Provide input to the Board of Directors and the • organizing and documenting the General Meeting
Board of Commissioners to comply with statutory of Shareholders,
provisions in the capital market sector; • organizing and documenting meetings of
2. Play as a liaison between Danamon and the Board of Directors and/or Board of
shareholders, the Financial Services Authority, and Commissioners,
other stakeholders; • implementation of the company orientation
3. Assist the Board of Directors and the Board of program for the Board of Directors and/or the
Commissioners in the implementation of corporate Board of Commissioners.
governance which includes:
• information disclosure to the public, including
the availability of information on the website,
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Affiliated Relationships And Transactions Of The Board Of Directors, The Board Of Commissioners And Main Shareholde
Corporate Secretary Competency Development

In 2021, various training sessions were carried out to improve the competence of the Corporate Secretary. The training
sessions were as follows:
Training Organizer Location Time
The Potential of MSMEs in the Central Java Region in
IBS Jakarta Jan 14th, 2021
the Context of Economic Recovery in 2021
Socialization of PBI Payment System Regulatory Reform BI Jakarta January 15th, 2021
Building Optimism after the Covid 19 Pandemic
“Direction of Monetary Policy, Macro-Prudential & BI & Infobank Jakarta January 22nd, 2021
Payment System to Optimize the PEN Program”
Webinar Launching the Implementation of the goAML
PPATK Jakarta February 1st, 2021
Reporting Application
Mandiri Investment Forum 2021- Reform After the Storm Mandiri Bank Jakarta February 3rd, 2021
Designing a Digital Technology-Based Startup Ecosystem
IBS Jakarta February 9th, 2021
to Contribute to National Economic Development
Trainer: “Level 3 (Executive) Compliance Certification
FKDKP Jakarta February 19th, 2021
Workshop on Compliance Director Reporting”
FKDKP, OJK,
Webinar Gratification Control and Anti-Bribery Banking Jakarta February 22nd, 2021
PPATK
MUFG-Danamon The Indonesia 2021 Summit “The
MUFG-Danamon Jakarta February 23rd, 2021
Future is Now”
Roadmap for the Development of Indonesian Islamic
OJK Jakarta February 25th, 2021
Banking 2020-2025
Indonesian
Socialization of the Implementation of Digital Payment Chamber of
Jakarta March 3rd, 2021
Transactions through QRIS Commerce and
Bank Indonesia
MUFG Overseas Management Compliance Workshop MUFG Jakarta July 14th,2021
Banking Digital Transformation OJK Jakarta July 15th, 2021
FGD: Juridical Analysis of Transfer of Receivables
OJK Jakarta July 22nd, 2021
through Cessie
Implementation of the Information Exchange Platform in
the Context of Efforts to Prevent and Combat Criminal PPATK Jakarta August 2nd, 2021
Acts of Terrorism in Indonesia
2nd Small Group Meeting for Compliance BDI-FCC Jakarta August 3rd, 2021
Dissemination of the Responsibilities of Financial
Services Providers (PUJK) for Fraud Actions by PUJK OJK Jakarta August 12th, 2021
Employees
Socialization of Banking Provisions OJK Jakarta September 1st, 2021
Risk Management Certification Refreshment Program Bank Danamon Jakarta September 2nd, 2021
Trainer: BSMR Briefing Bank Danamon Jakarta September 9th, 2021
Trainer: BSMR Briefing Bank Danamon Jakarta September 13th, 2021
Level 3 Compliance Certification Workshop Trainer FKDKP Jakarta September 23rd, 2021
CEO Forum-The Future of Banking How Bank Stay
Perbanas Jakarta September 30th, 2021
Relevant
Banking Transformation in the Digital Age OJK Jakarta October 22nd, 2021
Challenges and Solutions to Improve Global
Competitiveness through Digitilizing Value Chain
OJK Bandung December 10th, 2021
Financing for SMEs in the Sharia Financial Business
Ecosystem
380
Affiliated Relationships And Transactions Of The Board Of Directors, The Board Of Commissioners And Main Shareholde
Implementation of the Functions and Duties Commissioners and Board of Directors level related
of the Corporate Secretary 2021 to the implementation of corporate governance.
Throughout 2021, the Corporate Secretary carried out 7. making adjustments to the Articles of Association
the duties and responsibilities according to the functions per the company’s needs as well as the new laws
appointed, including the following: and regulations that apply.
1. following capital market developments, especially 8. updating/adjusting the Board of Directors Charter
regulations related to capital market regulations, and and Board of Commissioners Charter per applicable
convey information regarding these developments laws and regulations and the implementation of
to the Board of Commissioners, Directors, and good bank governance.
stakeholders of Danamon. 9. preparing documentation and assisting with the Fit
2. organizing and documenting the General Meeting of and Proper Test process for prospective members of
Shareholders and Public Expose held by the Bank. the Board of Directors and prospective members of
3. organizing and attending meetings of the Board the Board of Commissioners.
of Commissioners, meetings of the Board of
Commissioners attended by the Board of Directors, Information Disclosure in 2021
and meetings of the Committees at the Board As a form of information disclosure, Danamon has
of Commissioners level as well as compiling and conveyed information to the public through the
administering the minutes of the meetings. Danamon website, which is available in both Indonesian
4. submitting reports related to provisions in the and English.
Capital Market, both periodic and incidental reports
to OJK and IDX in a timely manner. Danamon also submits periodic and incidental reports
5. disclosing information per applicable laws and to the Indonesia Stock Exchange and the Financial
regulations. Services Authority, including IDXNet e-reporting and the
6. preparing recommendations for changes to the Financial Services Authority SPE (Solid Phase Extraction).
guidelines for committee work at the Board of
Periodic Report
In 2021, the Periodic Reports that were reported by Danamon were as follows:
No Report Type Purpose Report Period Amount
1 BDMN Securities Holder Registration Monthly Report OJK & IDX Monthly 12
2 Foreign Exchange Payable Report OJK Monthly 12
3 Consolidated Financial Statements of the Bank and Subsidiaries OJK & IDX Quarterly 4
4 Annual Report OJK & IDX Annually 1
5 Rating Result Report/Annual Rating OJK & IDX Annually 2
6 Financial Statements of Controlling Shareholders OJK Semester 2
7 Report on the Results of the Annual Public Expose BEI Annually 1
Incidental Report
In 2021, Bank Danamon has disclosed 44 incidental reports to the OJK and/or IDX regulators, which reports can be
viewed on the Danamon website with the following link: https://www.danamon.co.id/id/About-Danamon/Investor
Information/Informasi-Aksi-Korporasi-dan-Keterbukaan-Informasi/2021
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BANK COMPLIANCE
Bank Compliance Function
FUNCTION
The Compliance function is one of Danamon’s The Role of Directors and Commissioners in
governance organs that plays an important role in Compliance Function
preventive (ex-ante) efforts to minimize potential risks The Board of Directors is required to foster and realize
in Danamon’s business activities. Referring to POJK the implementation of a Compliance Culture at all
No. 46/POJK.03/2017 dated 12 July 2017 concerning levels of the Bank’s organization and business activities.
the Implementation of the Compliance Function of The Board of Directors is required to ensure the
Commercial Banks, the Bank’s Compliance Function implementation of the Bank’s Compliance Function. The
includes actions to: Board of Commissioners is required to supervise the
1. Realizing the implementation of a compliance implementation of the Compliance Function.
culture at all levels of the Bank’s organization and
business activities. Compliance Director
2. Manage compliance risks faced by the Bank. Danamon has a Director who is in charge of the
3. Ensure that the policies, provisions, systems, Compliance Function (Director of Compliance), namely
and procedures as well as the business activities Rita Mirasari. The appointment of the Director of
carried out by the Bank are in accordance with the Compliance has met the applicable requirements,
provisions of the Financial Services Authority and namely the requirements for independence and does
the provisions of laws and regulations, including not supervise functions that are not permitted by
sharia principles for sharia commercial banks and applicable regulations. The Director of Compliance has
sharia business units. obtained OJK approval and the appointment of the
4. Ensure bank compliance with commitments made Director of Compliance has gone through the process as
by the Bank to Bank Indonesia, the Financial Services stipulated by the OJK. The full profile of the Director of
Authority, and/or other competent supervisory Compliance can be seen in the Annual Report section of
authorities. the Profile of the Board of Directors.
Danamon Compliance Unit Organization structure is as follows:
Compliance Director
Head of Regulatory Compliance Head of Regulatory Compliance

(RC) & Advisory (RC) & Assurance
Compliance Lead
Compliance Lead
(Branch Network, Support, Compliance Lead Compliance Lead (RC Governance &
IT, Ops, Treasury & (Liabilities, Product) (RC Assets/ Credit) Assurance)
Regulatory Affairs)
Compliance Unit and ability in banking and have a high commitment to

Danamon has a Compliance Unit called Regulatory implementing and developing a culture of compliance.
Compliance. Since January 2021, the Compliance Unit The implementation of the Bank’s compliance function
is divided into 2 (two) divisions, namely the Regulatory is carried out by the two divisions which are formed
Compliance & Advisory Division with Palupi Aly Ibrahim independently and have direct access to the Compliance
as Division Head and Lie Chen as Division Head of Director. The Compliance Unit is responsible for the
the Regulatory Compliance & Assurance Division. The implementation of Danamon’s compliance function.
appointment has been informed to the Financial Services
Authority. The two officials have adequate competence
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As the Main Entity in the MUFG Group Financial systems owned by Danamon to comply with the
Conglomerate, the Danamon Compliance Unit also provisions of the competent authorities, including
carries out the function of the Integrated Compliance Sharia principles for Sharia Business Unit;
Unit (SKKT). The Compliance Unit has a Policy regarding 5. Performing the function of Danamon’s liaison
the Compliance Function and the Compliance Unit officer with regulators, particularly those related to
based on the Decree of the Board of Directors No. KEP: compliance and regulatory audits.
DIR-COMP-020 dated December 28, 2017, which covers 6. Create a training/socialization program regarding
compliance culture, compliance function, compliance external regulations to work units in Danamon.
risk management, and reporting. 7. Perform other tasks related to the compliance
function;
Duties and Responsibilities of the 8. The Integrated Compliance Unit, among others,
Compliance Unit has the task of at least monitoring and evaluating
The Duties and Responsibilities of the Compliance Work the implementation of the compliance function in
Unit include: each Financial Services Institution in the Financial
1. Create a compliance program in order to support Conglomerate.
the creation of a Compliance Culture in all Danamon
business activities at every level of the organization; Implementation of Compliance Function 2021
2. Identify, measure, monitor, and control compliance Implementation of the duties and responsibilities of the
risk in accordance with the implementation of risk compliance function during 2021, among others:
management for Commercial Banks and Sharia 1. Training and Socialization
Business Units and refers to the provisions of the As part of efforts to build a culture of compliance,
Financial Services Authority; the Compliance Unit has organized various trainings
3. Assessing and evaluating the adequacy and suitability and outreach for all Danamon employees. Training
of Danamon’s policies, systems and procedures with and socialization are carried out either through in-
respect to the implementation of the provisions of person meetings (classroom/online) or through
the competent authority; e-learning methods. In connection with the COVID-19
4. Reviewing and/or recommending updating and pandemic, training and socialization are carried out
improving the policies, provisions, and procedure virtually/online.
Training and Socialization As Dec 31 2021

e-learning Compliance 2021 100% of Bank Danamon management and employee has followed the
e-Learning Compliance 2021.
Training/ socialization to 38 training/socialization
working unit
Submission of new provisions/ 73 new regulation
rules to related work units
The Compliance Unit cooperates with related work units to discuss the
implementation of compliance with provisions, including matters that must
be met and targets for implementation.
2. Compliance Review and Monitoring In addition, the Compliance Unit also carries out
The Compliance Unit carries out a compliance review Regulatory Compliance & Assurance (testing)
to ensure that the products, activities, and policies activities to monitor Danamon’s compliance risk
issued by Danamon and the program products of and measure the compliance level of the work unit
Subsidiaries do not conflict with applicable regulations. in carrying out its activities and compliance with
During 2021, the Compliance Unit has conducted 364 regulatory regulations.
reviews consisting of 190 reviews in 1st semester– 2021
and 174 reviews in 2nd semester – 2021.
383
3. Monitoring of Compliance with Precautionary 5. Commitment to Regulators

Provisions The Compliance Unit monitors and ensures the
The Compliance Unit periodically monitors the fulfillment of follow-up commitments related to the
compliance with Danamon’s prudential provisions in results of inspections carried out by the regulator on
the form of the main regulatory parameters, namely a regular basis. During 2021, all audit commitments
the ratio of LLL, Statutory Reserves, NPL, PDN, Equity submitted by the regulator can be fulfilled and do
and CAR. The main regulatory parameters as part not exceed the agreed time limit. The Compliance
of the components in measuring compliance risk Unit also acts as a liaison regarding compliance
can be fulfilled by Bank Danamon and Subsidiaries implementation for internal and external parties.
properly. Monitoring of the Subsidiary’s compliance 6. The implementation of the functions of the
function is part of the Implementation of the Integrated Compliance Unit is disclosed in the
Integrated Compliance Function. Compliance risk of Integrated Governance section.
Bank Danamon and its Subsidiaries can be managed
properly. This is reflected in the compliance risk Human Resources Development for
profile which is ranked 2 or Low to Moderate. Compliance Unit
During 2021, there were no violations based on the As of December 2021, the Compliance Unit is supported
stipulated regulatory parameters. by 21 employees (including the Head of the Compliance
4. Compliance Risk Management Unit) with the majority having a working period of
Compliance risk management is carried out through more than 5 years in the banking sector with adequate
a process of identifying, measuring, monitoring and capacity. Danamon always provides opportunities for
controlling compliance risk in accordance with the Compliance Unit employees to improve their knowledge
implementation of risk management. The compliance and competence to support the implementation of their
risk management strategy is implemented through a duties. All employees of the Compliance Work Unit have
3 (three) line of defense scheme. The Compliance followed the Risk Management certification
Unit performs an analysis of compliance risk, both Some of the training/training/seminar/workshop
individual and consolidated Bank compliance risk, as materials that have been attended by both internal and
well as integrated compliance risk. external Compliance Unit staff include:
External Internal
Discussion on the Implementation Plan of the Effective Millennial Mentoring
Indonesia-China LCS Framework with Potential
Customers.
Risk Management Certification level 3 The Power Of Data To Unleash Company Digital Growth
Discussion: Juridical Analysis of Bank’s Transfer of Risk Management Certification Level 3
Receivables (Cessie) in Efforts to Settle Non-performing
Loans
Webinar - Global Developments in Digital Finance Compliance 2019
Discussion regarding the Indonesia-China LCS Digital Banking Transformation By Utilizing Open API
Implementation Plan. (Application Programming Interface)
Local Currency Settlement Learning From The Past, Looking For The Future
FGD on the Implementation of AML & CFT Programs in Danamon Compliance 2021 - Series 1
Financial Conglomerates
Socialization of the Integrity Zone Development in the Danamon Compliance 2021 - Series 2
framework of a Corruption-Free Area at the Special
KPPN for Receipts
Risk Management Certification level 2 Danamon Sustainability 2021
Socialization of POJK No.12/POJK.03/2021 concerning AML CFT : The Role of First Line of Defense (FLOD) &
Commercial Banks Global Roll Out (GRO)
384
External Internal
Socialization of POJK No.13/POJK.03/2021 concerning Risk Management Certification Level 2
the Implementation of Commercial Bank Products
PBI Socialization No. 23/6/PBI/2021 regarding Payment APU PPT : Customer Due Diligence (2018)
Service Providers
PADG Socialization No. 23/15/PADG/2021 concerning Cyber Security Awareness
the Implementation of the National Standards for Open
Application Programming Payment Interfaces
Webinar: Challenges After the Restructuring Is Over How To Improve Collaboration In Digital Era?
Discussion related to LCS Campaign. Socialization of PBI PJP No. 23/6/PBI/2021 - part 1
Socialization of Banking Provisions (POJK No.12/ Applied Cognitive AI In Data & Knowledge Driven
POJK.03/21 concerning Commercial Banks, POJK No.13/ Decision Making Era
POJK.03/21 concerning Operation of Commercial Bank
Products)
FGD Detection of IT-Based Banking Fraud Cases and Terms of Payment for Import Foreign Exchange and
Handling Mechanisms through Account Blocking Receipt of Export Proceeds
Mechanisms and Rare Risk Mitigation
Governance and Financial System Stability Workshop Operation Control & Policy 2021
Use of Local Currency in the SCS Framework to Support Online Workshop Balance Score Card
National Economic Recovery.
Prevention of Bribery through the Implementation of an Blockchain And Digital Identity: The Decentralized
Anti-Bribery Management System based on ISO 37001 Identity Revolution
and Presentation of the KPK SE on Gratification Control
related to the Financial Services Industry
Socialization Invitation “Implementation of Indonesian Cyber Risk Awareness: Minimizing The Risk By
Payment System 2025: BI-FAST” Maximizing Your Role
Discussion of the Plan for Issuance of Transaction Mental Health Workshop
Terms in the Forex Market.
Dissemination of BI Provisions and Preparation for Anti Bribery Corruption (Anti Penyuapan Dan Korupsi)
Implementation of E-BOCS Interconnection with BI
SSSS
Discussion of the main points of regulation of Elearning ORM & QA - 2020
transactions in the foreign exchange market.
The Development of Digital Financial Innovation and Danamon Sustainability
Beware of Illegal Investments in Indonesia
Socialization of the Plan for Implementation and Testing Occupational Health and Safety
of the System with Prospective Pilots of CCP Members.
National Seminar on Banking Policy Research 2021 Banking Dispute Resolution And International Arbitration
National Seminar on Banking Policy Research 2021 Overview of Bank Danamon ISDA Schedule
RPIM Fulfillment Component Data Technical Discussion Information Security Awareness
Banking transformation in the digital era Risk Management Essentials
Launching of Blueprint for Digital Banking Anti Fraud Integrity Pact
Transformation
Kick Off Supervision of Operator Behavior and Ethic Code 2021
Socialization of BI Consumer Protection
Importance of Trademark Registration in Strengthening Online Market & Liquidity Risk For Non Treasury
and Protecting Business
Risk Management Certification Refreshment Mindfulness At Work
Socialization of BI Fast Provisions Online Training Improving Negotiation Skill
385
External Internal
Tips and Trick for Submission of Application for Webinar Importance of Brand Registration in
Approval and Reporting on Retail Payment System Strengthening And Protecting Business
Development
Legal Aspects of Document Retention in Banking Credit Granting Process
Companies and Legal Problems
Strengthening Green Finance in Responding to Climate Refreshment Risk Management Certification
Change Challenges and Opportunities for Financial
System Stability
Webinar: Directions for the Development of Indonesian Seminar on Legal Aspects of Document Retention in
Banking in 2022 in the midst of efforts towards banking Banking Companies and Legal Problems
digitalization
Socialization of LPS Guarantee Program Employee Financial Wellness Festival 2021
Changes in Statutory Reserves, RIM and PLM in Cyber Risk in the Age of Banking Digitization
connection with BI FAST Implementation.
Launch of Financial Literacy Infrastructure Bank Accountability Webinar in Violation of the
Application of Prudential Banking
Soft Launching of Single Customer View application Online Training Designing An Effective And Attractive
Presentation
Compliance towards Major Regulations 2021

Parameter Requirement Compliance
Capital Adequacy Ratio Min. 9% s/d <10% (risk profile rating 2) Comply
Primer (Rp) Primer (Rp) Min. 3% Comply
Primer (USD) Min. 4% Comply
Macroprudential 80% - 92% Comply
Intermediation Ratio
Secondary/ Macroprudential 6% Comply

Liquidity Buffer
Non Performing Loan (NPL) NPL Net Max. 5% Comply
Net Open Position Max. 20% Comply
Maximum Lending Limit for Related Parties Max. 10% Comply
Participation Portfolio Max. 25% Comply
Maximum Lending Limit There is no exceeding or violation of the Comply
provisions of the Maximum Lending Limit
DISCLOSURE OF ADMINISTRATIVE SANCTIONS BY FINANCIAL SERVICES AUTHORITIES

During 2021, there are no administrative sanctions that are material and affect the continuity of the Bank’s business
as well as administrative sanctions to Board of Directors members and Bank’s Board of Commissioners members
given by the Regulator.
386
IMPLEMENTATION OF ANTI
Implementation Of Anti Money Laundering (aml) And Combating The Financing Of Terrorism (cft) Programs
MONEY LAUNDERING (AML) AND

COMBATING THE FINANCING OF
TERRORISM (CFT) PROGRAMS
ORGANIZATION Directors’ on the implementation of the AML and CFT

In order to support the implementation of Anti Money Program, including commitments made by Danamon to
Laundering and Combating the Financing of Terrorism the OJK/ BI and reporting to regulators in accordance
(AML and CFT), the Board of Directors and Board of with applicable regulations.
Commissioners continuously provide full commitment
so that Danamon always meets the provisions of The implementation of AML and CFT Program in Danamon
Financial Services Authority (OJK), Indonesia FIU (PPATK) is coordinated by the Financial Crime Compliance (FCC)
and other applicable Laws and Regulations related to Unit which reports directly to the Compliance Director
AML and CFT. and has the following organizational structure:
The Board of Commissioners actively supervises the

implementation of the responsibilities of Board of
Compliance Director
Financial Crime
Compliance Head
Quality Assurance,
Transaction Advisory & Alert Business Alignment
MIS & Reporting
Monitoring Head Handling Head Head
Head
Danamon consistently strives to improve the quality Program implementation. Business Units/ Operation
of AML and CFT Program implementation, through Units/ Control Units who carry out the daily business
active supervision from Management, updating policies, activities as the front line for Danamon.
conducting training programs, improving information
systems and other initiatives. 2. The Second Line of Defense
The Second Line of Defense is carried out by FCC
The framework AML and CFT Program implementation Working Unit at the Head Office which has role and
is described in the concept of Three Lines of Defense responsibilities to prepare the methods and tools
as follows: that can be used by First Line to carry out its duties
and responsibilities, prepare adequate policies and
1. The First Line of Defense procedures, systems and training and ensure that
The First Line of Defense is the most important First Line of Defense has carried out its functions
line of defense in preventing the Crimes of Money properly.
Laundering and Terrorism Funding, detecting the
possibility of such crime and identifying weaknesses
and vulnerabilities in controlling AML and CFT
387
3. The Third Line of Defense West Java, Central Java, Bali Nusra, Sumatra,
This function is carried out by Internal and External and Kalimantan.
auditors to ensure the AML and CFT Program
implementation in First Line and the responsibility b. Monitoring on Completion of Customer Data
of Second Line of Defense has been effectively Monitoring on the quality and completeness of
conducted. customer data is carried out continuously by
several methods/ processes :
IMPLEMENTATION OF AML AND CFT PROGRAM IN 1) During 2021, FCC conducted monitoring on
2021 the fulfillment of AML-CFT mandatory data
1. Evaluation of Policies and Procedures for opening CIF and new account opening
b. In order to meet the provisions of the Financial during the following year, new account
Services Authority and other provisions related opening by using old CIF during the following
to the implementation of AML and CFT, the Bank year.
has made improvements to the internal AML and
CFT provisions by issuing 22 internal regulations. ntil December 2021, there were 310,776
U
c. Reviewed 83 draft policies and/ or new products CIFs out of 310,554 opening CIF (99.92%)
and application forms based on request from have been completed/
related units at Bank Danamon to ensure
compliance with the implementation of AML 2) Updating KYC Data is also a method to
And CFT Program. While, there is no AML Forums monitor the quality of customer data as
disseminated to other units. well as Bank’s commitment to OJK which
d. Publish information related to implementation both of its data target and achieved result
of AML and CFT Program on Bank Danamon’s are submitted to OJK through Compliance
website by providing information of Bank’s Director’s Report in annual period.
General Policy, US Patriot Act, Wolfsberg AML
Questionnaire. As of December 2021, there were 27,201 CIFs
(100%) have been updated as per Bank’s
2. Monitoring and Evaluation Process commitment to OJK for 2021.
a. Monitoring & Testing
In order to ensure the implementation of the AML 3) The monitoring of customer data quality
and CFT programs, FCC conducted monitoring through AML System (Customer Due
& testing in coordination with the Branch Diligence & Watch List Filtering):
Operations team where the implementation • CDD (Customer Due Diligence) alerts on
will be carried out by the Branch Control Unit the AML System if there is a significant
effective July 1, 2021 in accordance with the change in the risk value and in a new
Global Roll Out Implementation, while branch account opening with high risk level
inspections are in accordance with the Schedule or PEP. As of December 2021, has
Visit Plan Branch Control to the intended conducted monitoring on 4,200 alerts,
branches to assess awareness, effectiveness and has requested for improvement or
and quality of data on the implementation of completeness of data/ information if
the AML and CFT Program compared to the there are still incomplete/ inadequate
stipulations that govern it. In addition, FCC took data.
the initiative to create a compliance report and • Alert WLF (Watch List Filtering), is a
customer data completeness (KYC) through the screening process for new CIF opening to
Branch AML CFT Report (BAR). PEP and Negative List data owned by the
Bank, using the World Check database
Quality Assurance has been implemented in 10 (including OFAC) and DTTOT - WMD
high complexity branches in the areas of Jakarta, Proliferation. As of December 2021, have
388
conducted analysis on 8,492 alerts of As of December 2021 , there were 514 CIFs
screening results. There are 18 (eighteen) that has been sent to Branches for further
positive hit alerts with PEP data that customer data updating so that the data in
required data correction or adjustment the database is updated.
by Branches or other relevant Business
Units and 11 (eleven) alerts that have c. Branch AML CFT Report (BAR)
been escalated to the FCC Transaction In order to evaluate the application of AML CFT
Monitoring unit to be followed up due to provisions has been conducted properly by all
negative news. Branches and also to carry out proactive control
and to ensure that the implementation of CDD/
4) The Bank also conducts periodic screening EDD is in accordance with the Danamon’s risk
of all existing CIF routinely which is one of appetite and in line with prevail regulations, the
the methods of monitoring customers to report is generated using BAR (Branch AML CFT
ensure there are no customers included Report).
in Negative List (DTTOT, WMD Proliferation,
Negative News and OFAC). From the results BAR Report is submitted to all of Regional
of those periodic screening, there were 4,088 Heads and copied to the respective director in
CIFs known as PEP/ related to PEP so that relation to the assessment result of each Branch
Branches or related units need to conduct Network in half-yearly period.
data update on related CIF for their follow-
up action. The result of BAR Report as of December 2021
5) Customer data quality monitoring is also are as follows:
carried out as follow-up action to customer
transaction monitoring process which
conducted by Transaction Monitoring Unit.
BAR Score during 2021 per BN Area

No Description As of June 2021 As of December 2021
1 Highest Score 98.16 99.59
2 Lowest Score 87.88 98.57
BAR Score during 2021 in each of the branch

No Description As of June 2021 As of December 2021
1 Highest Score 100 100
2 Lowest Score 75 89.69
Total Branches with
3 NIL NIL
score < 70
Based on the above results, it can be concluded employees and existing employees, including
that the implementation of AML CFT in all BN AML CFT training for Danamon Bankers Trainees,
Areas is Good. Due to Covid-19 pandemic also Socialization of new procedures based on GRO
needs to be taken into consideration which initiatives on QA, KYC and Sanctions processes,
impacted to Branch and customer activities to Refreshment of KYC procedures and Sanctions for
follow up related to incomplete data. BSM.

3. Training and Socialization During 2021 FCC held 14 training sessions on the
Organizing AML CFT training programs for new topics mentioned above. In addition to the training
389
and socialization, FCC also held Focus Group by first line of defense (FLOD) staff and the second
Discussions (FGD) 3 times during 2021 which was line of defense (SLOD) which is included in the
attended by branch frontliners with the topic of the Global Roll Out program. Achievement of e-learning
implementation of KYC and Sanctions Procedure. in 2021, as many as 6,289 staff from 6,289 staff
During the Covid-19 pandemic, the training (100%) of total employees as of September 30, 2021
program was carried out via online using MS have participated in the e-learning.
teams. As a follow-up to OJK directives regarding
the understanding of anti-money laundering and 4. Reporting
funding funds for the public and employees in Danamon has conducted reporting activities as
the financial services sector, OJK Socialization governed by Regulation. These reports are Suspicious
video on the Prevention of Money Laundering Transaction Report (STR), Cash Transaction Report
and Terrorism Financing has been uploaded to (CTR), International Fund Transfer Instruction (IFTI) and
Bank Danamon’s YouTube which can be accessed Integrated User Information System (SIPESAT). In addition
by the public and Bank intranet networks to be to the reporting, Danamon also provides responses for
accessed by Bank Danamon employees. data and information requests from external parties
(PPATK, KPK, BI, Police and other third parties).
FCC made AML-CFT e-learning related to the
First Line of Defense function in the context of The number of reports and responses for information
implementing the Global Roll Out program which requests from external parties that have been carried
was successfully completed and launched on out until December 2021 is as follows:
April 30, 2021. This e-learning must be carried out
Total of Reporting in 2021

Response Letter sent to External
STR CTR IFTI SIPESAT
Parties
1,024 48,132 89,406 330,116 CIF 549
5. Management information System

Danamon has conducted enhancement on • Improve GoAML Internal Danamon to fulfill the
monitoring and screening transactions/ customer requirement of Go AMLPPATK.
profiles applications (AML System) to improve • Develop the PEP database with PPATK
control and effectiveness in identifying suspicious • Improve GoAML application to support SIPENDAR
transactions by using parameters which are adjusted reporting to PPATK
periodically, including:
• Screening of SWIFT transactions in Trade 6. Audit
Operation In November 2020, the Internal Audit (SKAI) carried
• Screening development for existing customers out an examination of the implementation of AML and
in the AML System and automation of updating CFT until May 2021. In general, the implementation
watchlist data. of AML CFT was quite good with several follow-
• AML System upgrade up plans for improvement until May 2022 covering
processes, procedures and systems in the FCC, as
In addition, Danamon also made enhancement on well as related working units.
PPATK reporting application to improve its control,
accuracy and information completeness in the
reports which are submitted to PPATK, including:
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INTERNAL AUDIT Internal Audit Unit (skai)
UNIT (SKAI)
Structure and Position of Internal Audit Unit risk management, control, and corporate governance
(IIAU) processes.
Internal Audit Unit in Bank Danamon is a member of MUFG
Group Financial Conglomeration Integrated Internal In accordance with the Integrated Internal Audit Charter
Audit Units (IIAU), where Bank Danamon as the Main that has been approved by the President Director and
Entity. IIAU Danamon (“IIAU”) is an independent function Board of Commissioners, IIAU has access to all Danamon’s
directly responsible to the President Director. To support and Subsidiaries’ activities, functions, records, property,
independency and monitoring of the implementation and personnel by complying with the prevailing laws
of internal audit programs, the Chief Internal Auditor and regulations, profession confidentiality, and personal
(Head of IIAU) is also directly responsible to the Board rights, and ensure the application of the anti-tipping off
of Commissioners through the Audit Committee. IIAU principle in auditing Anti-Money Laundering (AML) and
aims to provide independent and objective views Countering Financing of Terrorism (CFT).
in conducting assurance activities and providing
consultation services to the Board of Commissioners IIAU reports audit activities and significant audit findings
and Board of Directors, as part of continuous control including recommendations for corrective action follow
process and risk management within the company. up that have been submitted to the related units, to
the President Director and Board of Commissioners via
IIAU aims to be a business partner that provides added Audit Committee and Compliance Director.
value in fostering a robust control culture to support
Danamon and its subsidiaries to achieve their long- In addition to complying with the Danamon’s Code
term goals by referring to the International Standards of Conduct, IIAU is also guided by the Integrated
for the Professional Practices of Internal Auditing Internal Audit Charter and Auditor’s Code of Ethics,
(IPPF) from The Institute of Internal Auditors (IIA), Bank which regulate the establishment and function of
Indonesia regulation, Financial Services Authority/FSA Integrated Internal Audit Unit (IIAU) and include auditor’s
(OJK) regulation, and Company’s Code of Conduct. professional standard as defined in the International
IIAU assists the management in accomplishing its Professional Practice Framework by The Institute
objective by bringing a systematic and disciplined of Internal Audit (covering the principle of integrity,
approach to evaluate and improve the effectiveness of objectivity, confidentiality, and competency).
IIAU Organization Structure
President Director Audit Committee
Chief Internal Auditor

Yenny Linardi
Product & Support Audit IT Audit & Analytics Branches Audit Audit & Fraud Investigation
Credit Audit Group Head Fraud Investigation Head
Group Head* Group Head Group Head Strategic Dev. Group Head
*Covering Treasury & Operations Audit
Appointment, Dismissal, and Legal Basis for Appointment of Head of IIAU

The Head of IIAU is appointed and dismissed by the President Director with the approval from the Board of
Commissioners. The appointment and dismissal of the Head of IIAU should be reported to OJK along with by the
reasons for appointment/dismissal.
391
Internal Audit Unit (skai)
Since August 12, 2019, IIAU has been led by Yenny Linardi as Chief Internal Auditor (Head of IIAU) replacing Nathan
Tanuwidjaja as an acting Head of IIAU, based on appointment letter No. B.194/HCKP/0819 and this appointment has
been reported to OJK based on Director Letter No. B.748 – DIR dated August 15, 2019 regarding Report on Dismissal
of the Acting Head of IIAU and Appointment of the Head of IIAU in PT Bank Danamon Indonesia, Tbk (“Company”).
Chief Internal Audit Profile
Yenny Linardi
Chief Internal Audit
Obtained Bachelor’s degree in Economics from Trisakti University, Jakarta. Joined

Danamon as Chief Internal Auditor since August 2019. Previously, she worked at
DBS Bank for almost 11 years as Chief Internal Auditor. She had worked at Danamon
in 2004-2008 with the last position as Head of Branches Audit and previously at
BCA (1989 – 2004) with the last position as Head of Analytical Review, Head Office
Audit.
Duties and Responsibilities of Integrated 9. Conduct regular coordination meetings with the
Internal Audit Unit (IIAU) subsidiaries’ Internal Audit at least every quarter;
IIAU has duties and responsibilities, among others: 10. Develop program to evaluate the quality of internal
1. Develop an annual audit plan using risk-based audit activities that have been performed;
methodology and implement the approved annual 11. Determine the internal audit execution strategy for
audit plan, including special tasks/projects; subsidiaries.
2. Review and provide recommendation on the annual Duties and responsibilities are regulated in the Integrated
audit plan of subsidiaries’ Internal Audit; Internal Audit Charter and stated in the Integrated
3. Improve the adequacy of knowledge, skills, Corporate Governance Report.
experience, and professional certifications;
4. Monitor and review the internal audit implementation 2021 Integrated Internal Audit Unit (IIAU)
in subsidiaries; Priorities
5. Prepare and submit reports to OJK in accordance IIAU has conducted the following activities to strengthen
with the prevailing regulations, e.g., semi-annual internal audit functions in 2021:
reports, special report on each audit issue deemed 1. Continued with audit priorities and perform
to disrupt the continuity of the bank, report on continuous monitoring on high and medium risk
Quality Assurance Review of IIAU by external party, entities, and also with extensive branch network.
and report of Information Technology audit; 2. Focus on reviewing emerging risks and risk
6. Communicate with OJK at least once in 1 (one) year; associated to new bank initiatives and process.
7. Convey compliance of sharia principles to Sharia 3. Continued to increase auditor competency through
Supervisory Board and appoint at least one (1) IIAU trainings, knowledge on regulation, product and
member who has knowledge and/or understanding procedures, as well as risk management and audit
of sharia banking operations; process and professional certification.
8. Recommend corrective actions for audit findings to 4. Continued to develop analytic functions by
related units, monitor and ensure that management continuing to develop the scope of the data analytics.
actions have been effectively and efficiently 5. Completed quality assurance process (review)
implemented; or Senior Management had accepted by external party as part of compliance to POJK
risks that could not be mitigated yet; No.1/POJK.03/2019 regarding the Implementation
392
Standard of Internal Audit Function for Commercial the MUFG Group Financial Conglomerate such
Banks which is conducted once every 3 (three) years; as conduct regular meeting, monitoring planning,
with Generally Conform result (in accordance with) implementation, and evaluation of internal audit
the stipulated OJK regulations. function at each entity member, as well as monitoring
6. Continued the quality assurance process and key internal control gaps & implementation of their
improvement program (QAIP) by benchmarking with resolutions in each entity member.
the internal audit best practices in banking industry
(IAU Danamon) and financing industry (Internal Audit Audit Plan and Realization as of December 31,
Unit ADMF). 2021
7. Performed joint audits with Internal Audit unit of ADMF. In 2021, Integrated Internal Audit Unit (IIAU) has
8. Align audit coverage and methodology with MUFG, conducted the following internal audit engagements:
specifically in the areas of Anti Money Laundering/ 1. IIAU Danamon has conducted audit in 207 entities
Sanctions/Anti Bribery Corruption, and Volcker rules. in Danamon:
9. Continue to perform its role as main entity IA of
Audit Plan & Realization as of December 31, 2021

Danamon 2021 Audit Plan 2021 Audit Realization
a. Head Office Audit 41 41
b. Regional Office Audit 12 12
c. Branches Audit 154 154
Total Audit 207 207
2. Internal audit activities in Adira Dinamika Multi Finance (ADMF) were performed by the Internal Audit unit of ADMF
or jointly with IIAU Danamon.
Audit Plan & Realization as of December 31, 2021

ADMF 2021 Audit Plan 2021 Audit Realization
a. Head Office Audit 7 7
b. Regional Office Audit 46 45
c. Branches Audit 130 131
Total Audit 183 183
Audit in New Normal head office and regional audit offices across Jakarta,
COVID-19 pandemic has its affect to IIAU audit activities, Surabaya, Medan, and Makassar. Moreover, the Internal
which is mainly audit activities are limited to off- Audit of ADMF had 62 personnel.
site audit to avoid physical contact as well as part of
following strict health protocol set by Government To maintain the standardization of human resource
and Company. Nonetheless, IIAU can overcome these quality, IIAU together with the Human Capital
obstacles by optimizing existing resources (such as data Development Division has developed a competency
analytics and remote conferencing technologies) and matrix, which is a roadmap for every auditor and team
adapting audit mechanism to ascertain and maintain its leader to participate in the trainings and certifications to
independence and objectivity. meet the required competencies at every level.
As of December 31, 2021, the following professional
Development of Human Resources certifications have been obtained by IIAU staff:
As of December 2021, the total number of personnel
of IIAU Danamon was 136 personnel residing in the
393
International Certification Person

Certified Internal Auditor (CIA) 6
Certified Fraud Examiner (CFE) 2
Certified Ethical Hacker (CEH) 2
Certified Information System Auditor (CISA) 3
Certified Information System Manager (CISM) 1
Financial Risk Manager (FRM) 1
Certified Anti-Money Laundering Specialist (CAMS) 1
Certified in Risk Management Assurance (CRMA) 1
Commercial Loans to Business (CLB) 25
Financial Accounting for Lenders (FAL) 24
Minimizing Problem Loans (MPL) 2
Certified Anti Fraud Manager (CAFM) 1
Certified ISO 27001:2013 Lead Auditor 1
Certified COBIT 2019 Foundation 1
National Certification Person

Qualified Internal Auditor (QIA) 53
Risk Management Certification (SMR), Level I 107
Risk Management Certification (SMR), Level II 46
Risk Management Certification (SMR), Level III 10
Risk Management Certification (SMR), Level IV 1
A to Z Sharia Banking 4
Islamic Banking: Funding & Financing 1
Basic Financing Management Certification (Sertifikasi Dasar Pembiayaan Managerial) by
9
Lembaga Sertifikasi Profesi Pembiayaan Indonesia (SPPI)
2021 Training and Workshop

#Person
No. IIAU #Training & Workshop Mandays
YTD Dec 2021
Internal Audit Unit-
1 136 staff 125 8 days
Danamon
2 Internal Audit Unit-ADMF 62 staff 45 10 days
394
COMPANY ACCOUNTANT/ Company Accountant/external Auditor
EXTERNAL AUDITOR
Appointment of Company’s Accountant the Audit Committee has considered:
Based on AGMS Danamon that was held on April 30, a. the independence of AP, KAP, and insiders in KAP;
2021, approved the appointment of Elisabeth Imelda b. audit scope;
as Public Accountant (AP) and Public Accounting Firm c. remuneration of audit services;
(KAP) Imelda & Partners (member firm of Deloitte d. skills and experiences of AP, KAP, and Audit team
Touche Tohmatsu Limited) as KAP registered at the of KAP;
Indonesian Institute of Public Accountants (IAPI) and e. methodology, techniques, and audit tools used by
the Financial Services Authority to audit Danamon’s KAP;
consolidated financial statements for fiscal year 2021. f. benefit of fresh eye perspectives obtained through
As well as determined the amount of honorarium and the changing of AP;
other requirements associated to the appointment of AP g. potential risk on the use of audit services by the
and KAP by taking into account the recommendations of same KAP consecutively for a long period of time.
the Audit Committee.
Other Services besides Financial Audit
Appointment of AP and/ or KAP that will provide audit The Public Accounting Firm throughout 2021 provided
services to annual historical financial information has services other than audit services. Other services fees
been decided by the General Meeting of Shareholders by that are quoted are less than the fees for audit services.
considering the proposal of the Board of Commissioners.
Audit Period and Accountant’s Honorarium
The proposed appointment of AP and/or KAP by the Board The Public Accountants/ Public Accounting Firms who
of Commissioners has considered the recommendations provide financial audit services and honorarium for audit
of the Audit Committee. In making recommendations, implementation are as follows:
Year Public Accounting Firm (KAP) Name of Accountant Service Fee

Imelda & Partners
2021 (member firm of Deloitte Touche Tohmatsu Elisabeth Imelda IDR 3.930 billion
Limited)
Tanudiredja, Wibisana, Rintis & Partners
2020 Lucy Luciana Suhenda, S.E., Ak., CPA IDR 5.335 billion
(member firm of PwC global network)
2019 Drs. M. Jusuf Wibisana,M.Ec, CPA IDR 4.405 billion
2018 Drs. M. Jusuf Wibisana,M.Ec, CPA IDR 4.405 billion
2017 Drs. M. Jusuf Wibisana,M.Ec,CPA IDR 4.346 billion
Effectiveness of External Audit The audit carried out by the Public Accountant and/
Implementation or Public Accounting Firm on Danamon’s financial
The Audit Committee reviews the effectiveness of statements has been conducted independently,
audit implementation, including ensuring that the audit professionally and objectively, among others:
implementation is in compliance with professional a. Examinations have been done on all material
provisions and standards, work agreements and scope accounts based on the applicable Public Accountant
of audit, as well as the independence of the external Professional Standards and in compliance with the
auditor. The Audit Committee periodically conducts applicable Accounting Standards in Indonesia.
meetings with the Public Accountant and/ or Public b. The submission of audited consolidated financial
Accounting Firm to discuss the progress and process of statements.
the audit conducted.
395
Company Accountant/external Auditor
Evaluation of the Audit Committee on the Communication and cooperation with external auditors
implementation of audit services on annual historical is always conducted in relation to accounting policy
financial information by the aforementioned AP and/ or issues and clean presentation of financial statements.
KAP is done through: The audit results have been communicated the
1. alignment of audit implementation by AP and/ or Public Accountant and/ or Public Accounting to the
KAP with prevailing standards of audit; Management, Audit Committee, and Financial Services
2. adequacy of field work time; Authority.
3. assessment of the scope of services provided and
the adequacy of the quotation test;
4. recommendations for improvement provided by AP
and/ or KAP.
Relationship between Bank, Public

Accountant, and Financial Services
Authority
Danamon as the audited party openly provide data
and information required by the Public Accountant
and/ or Public Accounting Firm for the purpose of the
examination. Auditors (Public Accountants and/ or Public
Accounting Firm) independently conduct examination
and submit suggestions and feedback on improvements
to Danamon’s Management for follow up.
396
RISK Risk Management
MANAGEMENT
Danamon continuously improves the implementation of risk management within the Bank and its Subsidiaries to be
in line with the development of regulation and best practice in business. The implementation of risk management is
intended to identify, measure, monitor and control various potential risks in all lines of business and supporting units.
In MUFG Group Financial Conglomeration, PT Bank Danamon Indonesia, Tbk (hereinafter referred as “Danamon”) is
appointed to be the Main Entity and the member of Financial Conglomeration consists of Subsidiaries and Sister
Companies. Below is the MUFG Group Financial Conglomeration structure:
Structure Entity’s Name Relationship to Danamon

Main Entity PT Bank Danamon Indonesia Tbk (“Danamon”)
Entity Member PT Adira Dinamika Multi Finance Tbk (“ADMF”) Subsidiary (vertical relationship)
Entity Member MUFG Bank, Ltd. Cabang Jakarta (“MUFG Jakarta”) Sister Company (horizontal relationship)
Entity Member PT U Finance Indonesia (“UFI”) 1 Sister Company (horizontal relationship)
Entity Member PT Adira Quantum Multifinance (“AQM”) 2 Subsidiary (vertical relationship)
1
In Q3 2021, there was a change in UFI’s shareholder where MUFG is no longer listed as a shareholder of UFI. The change in UFI’s
shareholders has been approved by the Regulator in Q4 2021. The Main Entity has submitted a letter of change of MUFG Group
financial conglomeration to the Regulator in Dec 2021 and is currently waiting for the Regulator to record the change.
2
in the process of liquidation settlement
Implementation of Risk Management Danamon and Subsidiaries, both individually and

The approach taken in supporting the effective consolidated, have applied Risk Management
implementation of risk management is to carry out consistently to manage risk exposures in their business
a holistic approach to manage Danamon’s risks in a activities. Specific discussion on the implementation of
comprehensive manner that includes 4 pillars, namely: risk management is disclosed in the Risk Management
1. Active supervision of Board of Directors and Board Operational Review in the Danamon’s Annual Report.
of Commissioners
2. Adequacy of risk management policies and Supervision of Board of Directors and Board
procedures as well as risk limit setup. of Commissioners
3. Adequacy of risk identification, measurement, The Board of Commissioners (BOC) and Board of
monitoring and control process as well as risk Directors (BOD) actively supervise the implementation
management information system of risk management through the committees:
4. Internal Control System a. Risk Oversight Committee
With the highest authority at the Board of
This is in line with the practice in the banking industry Commissioners level, this committee functions
and in accordance with the regulation of Financial as a supervisory board to monitor and provide
Services Authority (OJK). recommendations to the Board of Commissioners
related to the evaluation of risk management policy
Danamon has a Risk Management function that is and its implementation, evaluate the execution
centralized and independent from Risk Taking Unit of duties of Board of Directors, Risk Management
(RTU). The Risk Management function includes the Committee and risk management working unit in the
management of the main inherent risks in the Danamon’s risk management implementation as well as provide
and Subsidiaries’ activities. The implementation of the independent professional opinion to the BOC and
risk management function is carried out by Integrated recommend to the BOD actions to be considered
Risk Directorate which is responsible to Integrated Risk for further strenghtening of the risk management
Director. framework.
397
Risk Management
b. Risk Management Committee shareholders. The application of RAS to the Line of

At the Board of Directors level and is responsible Business and Subsidiaries has been carried out since
for evaluating and providing recommendations 2017. A comprehensive review of RAS parameter and
to the President Director and Board of Directors threshold is conducted periodically, at minimum once
related to development of risk management strategy every 2 years, to ensure the suitability of RAS with
and policy, implementation of the overall risk internal and external business conditions. At the end
management process, and evaluation of significant of 2021, RAS review has been conducted and to be
risk issues. implemented in 2022.
Risk Management Committee oversees 2 (two) Sub- The Board of Directors and senior management are
Committees as follows: responsible to ensure that the Risk Management
• Credit Policy Sub-Committee Framework is effective and can mitigate the risks to be
The main role of Credit Policy Sub-Committee is faced as well as cover detailed policies that regulate the
to review, provide inputs, monitor, and evaluate limits of the prudential principles extensively towards
on matters related to the development and Danamon’s activities.
implementation of Credit Risk Policy.
The evaluation of risk management effectiveness is
• Information Disclosure Sub-Committee conducted by the working unit through self assessments,
Information Disclosure Sub-Committee is and periodic evaluations carried out by the Internal
established in order to comply with MUFG Bank Auditor on the risk assessment methodology, adequacy
requirement to ensure that the Sub-Committee of system implementation, management information
has reviewed, deliberated and concluded the systems, as well as the appropriateness of policies,
accuracy and appropriateness of financial procedures and limits. In 2021, the assessment of
reporting. In addition, the sub-committee need the effectiveness of Danamon and Subsidiaries’ risk
to ensure that the framework for internal control management is satisfactory with risk level at 2 (low to
over financial reporting has been properly moderate).
designed and enhanced.
Type of Risk and Its Management
Effectiveness of the Risk Management System The risks managed by Danamon individually and
Danamon manage risks both individually or consolidated, consolidated include Credit Risk, Market Risk, Liquidity
which links between strategic planning, risk appetite, Risk, Operational Risk, Legal Risk, Reputation Risk,
business execution, risk assessment and performance Strategic Risk, Compliance Risk, Rate of Return Risk
evaluation, in order to optimize business growth and and Investment Risk. While the risk that is managed in
maximize Stakeholder value. an integrated matter within financial conglomeration
include Intra-Group Transaction Risk. Further explanation
Danamon has set Risk Appetite Statement (RAS) is as follows :
which outlines the level and characteristics of risks
that are able to be accepted by Danamon in carrying
out its activities to achieve the objectives set by the
398
Risk Management
Credit risk
is the risk due to failure of other parties to meet its obligation to the Bank and/or Subsidiaries, including credit
risk due to debtor failure, credit concentration risk, counterparty credit risk, settlement risk and country risk.
Credit risk is managed through establishment of policies and procedures covering credit granting criteria, credit
origination and approval, pricing, monitoring, non-performing loan management and portfolio management.
Market risk Operational risk

is the risk of losses on balance sheet is the risk due to inadequacy and/or failed internal processes, human
and off-balance sheet positions, error, system failure, and/or the presence of external events that affect
including derivatives transactions, the operation activities. Operational risk management is carried out
due to overall changes in market to minimize impacts that can lead to financial losses and reputation
conditions, including the risk of damages. Operational risk management also includes management of
option price changes. Market risk information security risk (including cyber security risks), technology risk,
arises due to movement in market change risk management and business continuity.
factors such as interest rate and • Information Security Risk (including cyber security risk)
exchange rate on Danamon’s is the potential impacts that could occur due to threats and
portfolio on the Asset side as well vulnerabilities associated with the operation and the use of system
as Liabilities, in the trading book and and/or information/data owned by the Bank in terms of Confidentiality,
banking book position, which has the Integrity and Availability of information/data.
potential to cause losses to the bank. • Technology Risk
Is the potential loss arising from inadequate internal control from the
operation and use of Information Technology devices and / or systems
to support the Bank’s business and operational processes.
• Change Risk Management
Is the approach to risk management aspect by providing the assistance
and support to transformation project team members in order to
manage the risks arisen due to change in the organization.
Liquidity risk Reputation risk Strategic risk

Is the risk due to the inability of the is the risk due to decrease in Is the risk due to inaccuracy in the
Bank to meet its maturing obligations stakeholder’s level of confidence making and/or implementation
from cash flow funding sources and/ that comes from negative of strategic decisions and failure
or from high quality liquid assets perceptions. Reputation Risk to anticipate changes in the
which can be pledged, without Management is carried out through business environment. Strategic
disturbing the activities and financial handling of customer complaints, risk management is carried out
condition of the Bank. performing public relations through the analysis of business
functions, responding to negative strategy alignment with the
news as well as communicating business environment conditions.
information required to the Strategic Risk is related to several
stakeholders. On a consolidated areas: business plan, information
basis, the Bank’s Reputation Risk technology and human resources.
management team works with
the risk management team in the
Subsidiaries.
Legal risk Compliance risk Investment risk

is the risk caused by lawsuit and/ Is the risk caused by the Bank is the risk due to the Bank and/
or weaknesses of juridical aspects. that does not comply with and/ or Subsidiaries bear the loss
Legal risk occurs due to, among or does not implement the laws of customer’s business that is
others, absence of supporting and regulations including Sharia financed under a profit and loss
statutory regulations, or weaknesses Principles for sharia commercial sharing or net revenue sharing
in contract execution due to bank and sharia business unit. scheme. Investment risk is applied
unfulfillment of elements of contact Compliance risk is managed by for Sharia business unit.
and imperfect execution of collateral an independent working unit that
document. performs the compliance function.
Rate of return risk Intra-group transaction risk

is the risk due to the change in the is the risk due to the dependence of an entity either directly or indirectly
rate of return paid by the Bank to its to other entities in a Financial Conglomeration in order to fulfill a
customers as an effect of a change contractual obligation of written and unwritten agreement which followed
in rate of return received by the Bank by either transferring the funds and/or not followed by transferring the
and/or from the financing, which can funds. Intra-group transaction risk is managed by Bank together with
affect the behavior of third party Subsidiaries and Sister Companies.
fund customers. Rate of return risk is
applied for Sharia business unit.
399
Risk Management
Specific discussion of the types of risks, risk management • Implement Early Warning Indicator for Corporate
efforts and organization are disclosed in the Risk and Commercial line of business.
Management Operational Review in the Danamon’s • Implement Behavior Scorecard for Small Medium
Annual Report. Enterprise (SME) line of business to support credit
process.
Achievement of Integrated Risk in 2021 • Implement LLP PSAK 71 or IFRS9 Model for
Risk Management in General: Corporate, Commercial, Financial Institution,
• Implementation of individual and consolidated Risk Financing Company, SME, KPR, KMG, Credit Card,
Management in the Bank and Subsidiary KTA, Micro Credit (SEMM), Auto Loan, Consumption
• Improvement of Risk Profile report in accordance and Investment, starting January 2020 according to
with regulatory requirements. OJK regulation.
• Preparation and submission of Sustainable Finance • Revamp and provide guidance to implementation of
Action Plan for period of 2022 – 2026 in order to Credit Risk Policy which applied bankwide in order
fulfill POJK no. 51/POJK.03/2017 regarding the to in line with Bank Indonesia and OJK Regulation as
Implementation of Sustainable Finance for Financial well as internal policy and risk appetite of Danamon.
Service Institutions, Issuers and Public Companies. • Revamp the memo of Stimulus regarding to
• Implement programs stated in the Sustainable Covid-19 impact in order to implement POJK No.11/
Finance Action Plan POJK.03/2020, POJK No. 48/POJK.03/2020 and OJK
• Update on Risk Management Policy – Bank and Letter No. S-19/D.03/2021 in Danamon, including
Consolidated has been done. review implementation memo on each LOB and
• Update on Sustainability Policy and Sustainability monitor the performance of the restructured credit
Guideline related to Credit have been done. portfolio and the provision adequacy.
• Update Recovery Plan in accordance with POJK No. • Conducting regular review on industry classification
14/POJK.03 / 2017. based on the risk level (high risk restricted, high risk,
• Roll out Risk Academy on an ongoing basis as a medium risk, and low risk), as well as determining
means of risk management learning for all Bank industry risk appetite to ensure the industry growth
employees through online/virtual training and is align with the determined threshold.
various kinds of e-Learning modules related to risk • Stipulate authority of Credit approval in Head Office
management. in each LOB including approval authority for Covid 19
• Implementation of ICAAP framework that already credit restructure.
had by the Bank continuosly. • Review EB and SME Credit Guideline as well as revise
• Conduct bank-wide stress tests according to Basel II credit criteria for segments with bad performance
at least once a year. and set caps and triggers for high risk segments.
• Participate in the Joint Stress Test exercise using • Limit the lending to high risk segments such as UPL.
template and macroeconomy scenario provided by • Stop the lending to high-risk loans in the Micro Credit
OJK and BI. (SEMM) and strengthen the collection strategy.
• Perform Covid-19 Thematic Stress Test to measure • Review new initiative programs in digital segment
its impact to the Capital Adequacy and credit quality. and MUFG Collaboration in order to keep in line with
• Conduct various programs of Risk Culture that regulation and Danamon’s risk appetite.
focus on the campaign of Three Lines of Defense • Regularly review of all relevant procedures, policies
implementation. and limit, and make adjustment if necessary,
• Comprehensively review Risk Appetite Statement including any adjustments required by OJK/BI
(RAS), including cascade it down to the Lines of regulation and other relevant authorities.
Business and Subsidiaries. • Regularly review of product programs, in terms
of portfolio, criteria, and restrictions and other
Credit Risk Management: requirements, and make necessary adjustments.
• Monitor Internal Rating Model result for Corporate, • Perform backtesting periodically to assess the
Commercial, Financial Institution and Financing adequacy of credit provision. If necessary, addition
Company. of credit provision will be done based on that
400
Risk Management
backtesting results. • Build commitment and awareness of fraud through

• Credit Quality Assurance (CQA) as a second line of the obligation of the Anti-Fraud Integrity Pact signing
defense which responsible to conduct independent by all Board of Directors, Board of Commissioners,
forward-looking credit review/monitoring, where and all employees of Bank Danamon.
currently the coverage only to regional branch that • Review and update the anti-fraud policy and
has Enterprise Banking (EB) portfolio. CQA functions framework that is aligned with regulation.
are to provide assurance on appropriateness of • Update the Business Continuity Management (BCM)
credit decision making, review adherence to credit policy according to the latest conditions.
guideline and methodology, and review process and
outputs of credit approval. Technology and Information Security Risk
Management:
Operational Risk Management, Fraud & QA: • Updating the Bank’s information security policy
• Improve the independence of functions and roles documents, to cover the provisions on the use
of operational risk manager in lines of business, of social media. Including updating the guidance
support functions and Subsidiary. documents regarding the classification of
• Refine the Operational Risk Management System information applicable in the Bank.
(ORMS) application to improve the effectiveness in • Continuing the implementation of the cyber threat
operational risk management comprehensively at modeling system or CyberThreat Modeling to carry
Danamon and Subsidiary. out cyber risk identification for an application at an
• Build the awareness of Operational Risk Management early stage so that it can be accommodated and
through e-Learning, Risk Academy module, email mitigated properly in the application development
blast, and anti fraud awareness campaign. The process.
purpose is to enhance awareness throughout all of • Improve internal control processes so that they are
management and employees on the importance of adequate to minimize inherent and residual risks
operational risk management. and their impacts in the management and use of
• To improve implementation of ORPA (Operational Information Technology Services.
Risk Pre-Assessment) to review the risk on new • Carry out consultation and communication functions
strategic initiatives including the recommendation with stakeholders related to risk management
of risk mitigation. of using Information Technology Services and
• To improve implementation of product/system/ information security in the first line of defense.
process review for operational risk review including • Develop and update the tools used to carry out the
risk mitigation implementation cycle of the Information Technology
• Implement Self Raise Issue to provide a tool for Risk Management Policy.
employees to raise an issue that potentially arise the • Implement Danamon’s Information Security Policy
operational risk. in stages with priority and focus according to the
• Implement an escalation mechanism for potential/ approved implementation strategy, including the
operational risk event. development of tools to improve the monitoring
• Implementation of Risk Acceptance to ensure that process.
issues which can not be mitigated, however the • Continuing the implementation of the Information
process/activity will be carried out and the risk Security Risk Management framework for vendors
is still borne by the Bank, should be approved by who process Danamon’s sensitive data classified as
relevant management. confidential/strictly confidential.
• Enhance QA methodology and supporting system as • Continuing the information security awareness
well as improving QA Policy. program through various available media, including
• Improve awareness regarding risk control. starting to update the bank’s internal training
• Improve the ability of early detection on the potential materials with a new approach.
fraud by developing the fraud detection system
and providing the Whistle-blower channel through
independent third party.
401
Risk Management
Market and Liquidity Risk Management: Change Risk Management:

• Update the Bank’s Market and Liquidity Risks limit • Has a Change Risk Management division under the
structure and policies Integrated Risk Directorate which responsible to
• Validation of the market and liquidity risk collaborate with Bank-wide stakeholders involved
measurement methodology, including those to in transformation projects to ensure risk elements
support Treasury new products. (appetite, safeguard & control) are always taken
• Validation from independent external party on into account in planning and implementing major
the Bank’s policies, methodologies, and reporting projects.
results produced by the ALM System related to • Ensure timely escalation of issues and proper
Liquidity Coverage Ratio (LCR), Net Stable Funding mitigation of risks that arise directly or indirectly
Ratio (NSFR), and Interest Rate Risk in Banking Book from the execution of various bankwide strategic
(IRRBB). transformation/change management projects.
• Update and enhancement of ALM System to support • Supervise the development of policies, procedures
calculation and reporting alignment in regards of and guidelines as well as governance & oversight for
LCR, NSFR, as well as IRRBB. all significant bankwide transformation Programs
• Implement Big Data as a data source used by the and/or Change Management Projects within the
ALM System which is in line with the Bank’s strategy second line of defense.
of using Big Data as the main data source. • Carries out PMO function if required and as
• Study and review the OJK Consultative Paper assigned, in collaboration with internal and
and participating Forum Group Discussion (FGD) external stakeholders in planning, coordinating
pertaining to the Revision to the Minimum Capital and monitoring the implementation of strategic
Adequacy Requirement for Market Risk. transformation projects include ensuring the
• Study and review the OJK Consultative Paper on adequacy of project governance, risk identification
Internal Liquidity Adequacy Assessment Process and mitigation, communication and escalation to
(ILAAP). seniors management.
Provision of Funds to Related Parties and Large Exposures

Provision of Funds Debtors Nominal (Million IDR)
Related Parties Subsidiaries and Core Management 1,030,346
Largest Group/Debtor 20 Groups 28,887,945
Danamon limits the concentration of loans to individuals, LLL calculation refers to OJK regulation No. 32/
groups or industrial sectors in order to reduce POJK.03/2018 regarding Legal Lending Limit and Large
Concentration Risk. The provision of funds to related Exposure for Commercial Banks and OJK Regulation
parties and Subsidiaries is conducted on an arm’s- No.38/POJK.03/2019 regarding Amendments of OJK
length basis and in accordance with normal commercial Regulation No.32/POJK.03/ 2018 regarding Legal Lending
requirements and required to obtain Compliance Review Limit and Large Exposure for Commercial Bank.
(HKK) from the Compliance Working Unit and approval
from the Board of Commissioners.
During 2021, there were no LLL violations or exceeds to

the Related Parties, Non Related Parties either Individuals
or Group Debtor and State Owned Enterprises.
402
INTERNAL CONTROL Internal Control System
SYSTEM
Internal Control is an integrated methodology, policy, procedure and organizational setting that aimed to identify,
measure, monitor, and control risks arise from Danamon’s and Subsidiaries’ activities with a risk-based approach.
Danamon’s and Subsidiaries’ internal control is done covering all aspects of business both from the Assets and
Liabilities sides.
Risk Management and Internal Control framework in Danamon adopts Three Lines of Defense approach as shown in
diagram below:
Three Lines of Defense
Board of Commissioners Supervision

Board of Directors Supervision
First Line of Defense Second Line of Defense Third Line of Defense
• Line of Business • Integrated Risk Directorate • Internal Audit Unit (SKAI))
• Operational Working Units • Regulatory Compliance Division
• Other Supporting Working Units
Line of business, operational working Integrated Risk Directorate and Internal Audit Unit has a role as
units and other supporting working Regulatory Compliance Division have the Third Line of Defense that
units are the First Line of Defense a role as the Second Line of Defense is responsible for evaluating risk
that responsible to conduct daily to perform risk monitoring function management implementation
risk management in each working independently. conducted by the First and Second
unit. Line of Defense.
All lines of defense should be responsible for the internal control management of each working unit in Danamon and
Subsidiaries. Furthermore, Quality Assurance function in the first line of defense (business unit / supporting function)
has been established to evaluate the implementation of internal control by the unit.
Assessment to each working unit have been carried out periodically. The implementation of quality assurance is
regulated in the procedure (SOP) based on Danamon’s Quality Assurance Policy/ Framework.
Awareness program on internal control in working units has been routinely carried out as well by the Quality Assurance
function.
In principle, internal control is not only the task of the Quality Assurance function, but it is the duties and responsibilities
of the entire working unit in Danamon.
Evaluation of Effectiveness Level on Internal Control System

The Internal Audit Unit (SKAI) which is part of Internal Control System conducts audits to ensure the effectiveness of
Danamon’s internal control, through an independent evaluation of adequacy and compliance with policies, procedures
and systems. The evaluation of the implementation of internal control system is one of basic management to
determine the effectiveness of the implementation of the internal control system. The evaluation of the effectiveness
of the internal control system is illustrated by the audit rating which is the basis for making improvements, among
others, in the form of updating policies/ procedures/ systems.
403
LEGAL DISPUTES OR SIGNIFICANT CASES FACED

BY CORPORATION, SUBSIDIARY, MEMBERS OF
BOARD OF DIRECTORS AND/ OR MEMBERS
OF BOARD OF COMMISSIONERS
Legal Disputes are civil or criminal cases faced by Danamon and its Subsidiary during the reporting year period, and
had been submitted through court process.
Legal Disputes involving Danamon

Total Cases
Cases Faced by Danamon Impacts toward Danamon Conditions
Civil Criminal
Telah diselesaikan [telah mempunyai

151 42 Case had no financial impact for Danamon
kekuatan hukum yang tetap]
Dalam proses penyelesaian 203 42 Legal proceedings are still ongoing

Note:
Civil and criminal cases faced by Danamon during reporting year period had been submitted through court process and investigation
process. Total cases recapitulation during 2021 as per data of December 2021.
Legal Disputes involving members of Board of Commissioners or members of Board of Directors

Legal Disputes faced by members of Total Cases
Board of Commissioners & members of Impacts toward Danamon Conditions
Board of Directors Civil Criminal
Resolved
2 - None
[possess legally binding verdict]
Ongoing process - - None
Permasalahan Hukum yang melibatkan Perusahaan Anak
Legal Disputes involving PT Adira Total Cases

Impacts toward Subsidiary Conditions
Dinamika Multi Finance Civil Criminal
Resolved
- - None
Cases had no significant impact toward
Ongoing process - -
Subsidiary
Legal Disputes involving PT Asuransi Total Cases

Impacts toward Subsidiary Conditions
Adira Dinamika Civil Criminal
Resolved
- - None
Ongoing process - - None
Note:
PT Adira Quantum Multifinance is in liquidation process.
404
SIGNIFICANT CASES FACED
BY DANAMON
The cases below have been submitted in the previous Civil Case Komala (eks Debitur SEMM)
year’s report, however, we can disclose it as follows: On November 2020, Bank Danamon received another
civil lawsuit on Tangerang District Court under register
Civil Case Heir of Ex-Shareholder No. 1056/Pdt.G/2020/PN.Tng with Komalasari as Plaintiff,
In January 2017, Bank Danamon and Sng Seow Wah where she claimed that Bank Danamon had been
as President Director of Bank Danamon received negligent to insure the collateral for fire insurance,
lawsuit from heirs of ex-shareholder of PT Bank Kopra therefore Plaintiff suffered loss. Plaintiff demanded
Indonesia namely Taty Djuariah (heir of ex-shareholder confiscation of Bank Danamon and Directors assets,
Daud Badaruddin) and Irene Ratnawaty Rusli (heir of compensation in amount of IDR 246,460,000,000
ex-shareholder Roesli Halil) registered under No. 909/ and to return the collateral. This case is still going on
Pdt.G/2016/PN.Jkt.Sel. on South Jakarta District Court. Tangerang District Court. This lawsuit is basically the
same as previous civil lawsuits from Plaintiff, where
PT Bank Kopra Indonesia was established on July 16, Bank Danamon had been declared as the winning
1956, then becomes PT Bank Persatuan Nasinal based party, and one on the lawsuit had received legal and
on Deed No. 159 dated August 21, 1958 which was binding verdict on Cassation stage on Supreme Court of
declared on Additional State Announcement No. 31 Republic of Indonesia.
dated April 17, 1959, then becomes PT Bank Danamon
Indonesia based on Deed No. 18 dated August 13, 1976 In this lawsuit, Plaintiff also sued Bank Danamon
which was included in Additional State Announcement Directors, namely Yasushi Itagaki as Bank Danamon
No. 85 dated October 25, 1977, and finally becomes PT President Director, Honggo Widjojo Kangmasto as Bank
Bank Danamon Indonesia, Tbk. in 1989. Danamon Vice President Director, and Rita Mirasari and
Bank Danamon Director, in order for this lawsuit to avoid
On January 3, 2018, South Jakarta District Court had Nebis in idem element (lawsuit is identical with previous
given verdict where basically all of Plaintiff claims are lawsuit). When trial is proceeding on Tangerang District
rejected. On October 29, 2018, Jakarta High Court had Court, Plaintiff submitted request to revoke the lawsuit,
given verdict where basically the Appeal request from and the request is granted by the panel of Judges,
Plaintiff was rejected and reinforce the District Court therefore Bank Danamon as the winning party, and case
verdict. On August 15, 2019, Supreme Court of Republic has legally binding verdict.
of Indonesia had given verdict No. 1891 K/PDT/2019
where basically the Cassation request from Plaintiff was Civil Case Laverde Residence Mortgage
rejected, and reinforce the High Court and District Court Debtors
verdict. On March 1, 2021, Supreme Court of Republic of On January 2021, Bank Danamon received civil lawsuit
Indonesia had given verdict No. 66/PK/PDT/2021 where on Tangerang District Court under register No. 1153/
basically the Judicial Review request from Plaintiff was Pdt.G/2020/PN.Tng with Alvin Pratito, etc. as Plaintiffs.
rejected, therefore Bank Danamon as the winning party Plaintiffs are debtors who received credit facility from
on all court stages, and case has legally binding verdict. Bank Danamon, and also, they are the buyers of house/
shop house on Laverde Residence (Serpong Utara,
Tangerang Selatan) with PT Cowell Development Tbk., as
Developer. They claimed that Bank Danamon failed to
fulfill the requirements for mortgage credit collateral and
the disbursement of credit facility, and therefore inflict
405
LegalDisputesOrSignificant Cases Faced By Corporation, Subsidiary, Members Of Board Of Directors And/ Or Members Of Board Of Commissioner
losses to Plaintiffs. Plaintiffs demanded compensation

in amount of IDR 221,336,339,188, and confiscation of
Bank Danamon assets i.e. Bank Danamon HQ on Jakarta
Selatan, Bank Danamon building on Matraman Jakarta
Timur and Bank Danamon building on Alam Sutera
Tangerang Selatan.
On August 30, 2021, Tangerang District Court had given

verdict where basically all of Plaintiff claims are rejected.
Plaintiffs has submitted Appeal, and on December 30,
2021 Bank Danamon had received official notification of
Memory of Appeal from the court. Bank Danamon will
submit Counter Memory of Appeal through Tangerang
District Court.
Civil Case PT Bidakara Taruma Sakti

On August 2021, Bank Danamon received civil lawsuit
on Jakarta Selatan District Court under register No.
647/Pdt.G/2020/PN.Tng with PT Bidakara Taruma Sakti
as Plaintiff. Plaintiff claimed that Bank Danamon had
conducted acts against the law regarding the negligence
of its ex-employees that causes other third party take
away Plaintiff’s fund. Plaintiff demanded compensation
in amount of IDR 133,941,635,054, and confiscation of
Bank Danamon assets i.e. Bank Danamon HQ on Jakarta
Selatan. The case is still proceeding at Jakarta Selatan
District Court.
406
TRANSPARENCY OF BANK’S Transparency Of Bank’s Financial And Non-financial Conditio
FINANCIAL AND NON-

FINANCIAL CONDITION
Access to company information and data in the form Published Financial Reports, Annual Reports and non-
of financial and non-financial condition is regularly financial reports include Good Corporate Governance
disclosed through mass media, public expose and report, information on Products/ Services, Branch
through analyst briefing forums and websites. Reports Networks and other non-financial information.
on financial and non-financial condition are prepared
and submitted to regulators and other institutions in The following are the reports and information that have
accordance with applicable regulations. Reports on been disclosed and accessible via Danamon website
financial condition include Quarterly Published Reports, (www.danamon.co.id):
Type of Information Published Contents

Financial Information
Consolidated Financial Report in accordance with the
Consolidated Financial Report Quarterly
standard of Financial Accounting in Indonesia
Published Financial Report Quarterly Summary of Financial Performance according to OJK
Analyst Presentation Quarterly Main financial and non-financial information
Financial and non-financial information, business
Annual Report Annually
segments, product information, profit
Non-Financial Information
Products/Services - Information on products and services that are offered
Branch Network - Information on Branch Offices
Management and Ownership - Information on the management and ownership structure
Policies on Corporate Governance - Information on corporate governance policies of Danamon
Information on corporate governance implementation of
Corporate Governance Report Annually
Danamon and result of corporate governance assessment
407
REMUNERATION
POLICY
Remuneration Policy Drafting Process 2. Danamon uses salary structure as a guide for
Danamon considers it is important to apply the minimum and maximum salary for a level.
philosophy and principles of good remuneration to keep 3. The payment reference of a position in the market
the remuneration level at Danamon always competitive is based on:
in the market, so that it motivates employees to make • Corporate business strategy
the best contribution to Danamon and supporting • Benchmark Study in the market for a suitable
Danamon’s business continuity and mission to become position
a leading financial institution in Indonesia. 4. The amount of employee salary differs based on:
• Skill Competency
The remuneration policy, which refers to meritocracy, • Performance
market & company capability principles, aims to regulate • Experience
the process and approach to determine remuneration • Scarcity of position in the market
for all Board of Directors, Board of Commissioners, 5. For employees with the lowest salary should
and employees based on their work, contributions to consider the provisions of the minimum wage of the
Danamon, and its equality in the market for the same relevant area of the employee’s work location.
position.
Based on the measurement of performance and
To ensure that employee remuneration in the control contribution to Danamon every year, the eligible employees
unit is independent, it is ensured that each employee will be rewarded with annual performance bonus.
has his/ her own Key Performance Indicator (KPI) as a
measure of performance that is not related to KPIs in Performance bonuses are aimed to motivate and
the working unit he/ she supervises. encourage employees to perform and contribute higher
to Danamon.
Scope of remuneration policy and its The following guidelines are used to determine employee
implementation performance bonus:
This remuneration policy applies to all business units 1. Bonus pool for employees and senior management
both in headquarter and in regions including Sharia are determined based on the achievement of
business unit. Danamon’s performance against the plan:
• The main factor is Net Profit After Tax (NPAT)
Remuneration associated with risk before the cost of restructuring.
In providing remuneration to employees, the company • The second factor is economic condition,
will consider the potential risk that may arise from all government regulation, market, restructuring,
type of risks. etc.
2. Bonus Pool is based on a certain percentage
In the event of a risk resulting from the decision taken, of Net Profit After Tax (NPAT) before the cost of
the company reserves the right to extend the deferral restructuring.
period of the given variable. 3. The increase or decrease in the pool bonus
percentage against the NPAT should consider the
Performance measurement associated with achievement of Danamon’s performance against
Remuneration the plan set at the beginning of the year. The bonus
In order to give fair rewards to every employee, Danamon distribution should align with the unit performance
always takes into account and considers the weight of and individual performance.
employees’ job and skills and practice in the market for
the similar position. Remuneration adjustment associated with
performance and risk
The following guidelines are used for determining the For the Executives who are appointed as Material Risk
size of employee salaries: Taker (MRT) because the authority held in decision
1. Danamon implements a ‘Clean Wage’ system where making can have a significant impact on Danamon’s risk
there is only a salary without any other allowances. profile, a part of their annual performance bonus will be
408
Remuneration Policy
made according to the following provision as required by

OJK regulation No. 45/POJK.03/2015: Position and number of parties categorized
Part of the annual performance bonus is deferred at as the Material Risk Taker
least for a period of 3 years. In the implementation of the Financial Services Authority
1. The deferred portion is divided into cash and in the Regulation No. 45/POJK.03/2015 concerning the
form of shares/shares-based instrument. Implementation of Corporate Governance in Providing
2. If a Danamon Executive (the Board of Directors/ Remuneration for Commercial Banks, Danamon applies
Board of Management) is terminated by the company the principle of remuneration with a prudence to risk
not because of mistake, negligence or fraud, the for Executives who have authority to make decision that
deferred portion may be resumed but cannot be can have a significant impact to the Bank’s risk profile.
accelerated in payment. Therefore, the company has determined Danamon
3. The size of the deferred portion is differentiated Executives categorized as the Material Risk Taker is the
by position level. The higher the position level, the Board of Directors and Board of Management members.
larger the deferred portion. The deferred portion and
schedule are determined by the Human Resources Remuneration for The Remuneration
Committee. Committee
4. If a Danamon Executive (the Board of Directors/ Remuneration Committee consists of 4 members of the
Board of Management) voluntarily resigns, the Board of Commissioners and 1 officer who is in charge
deferred portion that has not yet matured will be of Human Resources.
forfeited.
5. If a Danamon Executive (the Board of Directors/ Total remuneration paid to all members of the
Board of Management) has committed violation Remuneration Committee during the year 2020 is IDR
such as negligence, fraud, etc. in the previous year 18.5 billion.
and just discovered in the following year and has
received the performance bonus, the performance Remuneration of Board of Directors and
bonus can be withdrawn (Claw back). Board of Commissioners
Remuneration and facilities packages received by the
Remuneration related Consultants Board of Directors and Board of Commissioners cover
Danamon uses consultant Willis Towers Watson as the remuneration structure and nominal amount details,
a consultant for conducting salary surveys which is as indicated in the table below:
conducted annually. The result of the salary survey will
be used as a reference for determining employee salary.
Danamon also uses the same consultant to assist in
redesigning the compensation for employee.
Amount Received in 1 (one) Year
Remuneration Type And Board Of Directors Board Of Commissioners

Facilities 2021 2020 2021 2020
No. of HC IDR Mio No. of HC IDR Mio No. of HC IDR Mio No. of HC IDR Mio
Salary, bonus, Fixed allowance,
tantiem, and other facilities in 10** 90,154 10 125,840 10* 24,060 6 29,220
the form of Non Nature
Other facilities in the form
of Nature (housing, medical
insurance, etc.) which:
a. Can be owned 10** 2,547 10 2,735 10* 1,376 6 1,070
b. Cannot be owned 10** 9,245 10 10,249 10* 2,136 6 1,562
Total 10** 101,947 10 138,824 10* 27,572 6 31,852
Note:
409
Remuneration Policy
* From 10 Commissioners, 3 Commissioners effective resigned in April 2021 and 2 Commissioners join in August 2021.
** From 10 Directors, 2 Directors resigned in July 2021 and September 2021.
Remuneration of Board of Directors and Board of Commissioners Based on Income Levels

Remuneration packages grouped in the income level received by the Board of Directors and the Board of Commissioners
in 1 (one) year, as indicated in the table below:
Total Board of Directors Total Board of

Total Remuneration Per Person in 1 (one) Year ***) Commissioners
2021** 2020 2021* 2020
Above IDR 2 billion 10 10 6 6
Above IDR 1 billion s/d IDR 2 billion - - 1
Above IDR 500 million s/d IDR 1 billion - - 3 -
IDR 500 million and below - - - -
Note:
* From 10 Commissioners, 3 Commissioner effectively resigned in April 2021 and 2 Commissioners joined in August 2021
** From 10 Directors, 2 Directors effective resigned in July 2021 and September 2021
*** Annualized cash remuneration received
Variable Remuneration
In addition to fixed remuneration, Danamon also provides variable remuneration to employees in the form of annual
performance bonus which is aimed to appreciate the performance and contribution of employees every year and
also in the form of a retention program or long-term compensation program which is aimed to retain the company’s
key employees to keep working at Danamon.
Annual performance bonus is awarded to the Board of Directors, the Board of Commissioners and the eligible
employees. The amount of performance bonus every year is different which will be determined by the overall
performance of Danamon, the performance of the Line of Business/ Segment and the performance of each employee.
Long-term compensation program is provided very selectively to the Board of Directors and Senior employees
who have excellent performance and or hold key positions. The provision of long-term compensation programs is
prerogative of the President Director and Board of Commissioners.
The number of Board of Directors, Board of Commissioners and employees receiving variable remuneration for 1 (one)
year and total nominal, as indicated in the table below:
Total Received in 1 (one) Year

Board of Directors Board of Commissioners Employee
Variable
Remuneration 2021 2020 2021 2020 2021 2020
No. of IDR Mio No. of IDR No. of IDR No. of IDR No. of IDR No. of IDR Mio
HC HC Mio HC Mio HC Mio HC Mio HC
Total 10 25,663 10 32,118 6 8,636 6 15,877 5,148 166,147 5,073 226,642
Unconditionally Guaranteed Variable Remuneration

Danamon does not provide variable remuneration that is guaranteed unconditionally to the candidates of Board of
Directors, Board of Commissioners, and/ or employees in the first 1 (one) year.
410
Remuneration Policy
Deferred Variable Remuneration

The implementation of deferred variable remuneration consists of cash and/ or shares or shares-based instrument
has been implemented since 2018.
The Highest and Lowest Salary Ratio

Salary is the right of employee that is received and stated in the form of money in return from company or employer
to employee which is stipulated and paid in accordance with a work contract, agreement or regulatory law, including
allowances for the employee and his/ her family for a work and/ or service that has been undertaken. Salary that
is compared in salary ratio is the reward received by the Board of Directors, the Board of Commissioners, and
employees.
Salary Comparison Ratio 2021 2020

The Highest and Lowest Employee 144.0 x 138.0 x
The Highest and Lowest Board of Directors 2.4 x 2.4 x
The Highest and Lowest Board of Commissioners 1.1 x 1.3 x
The Highest Board of Directors and the highest
1.6 x 1.7 x
employee
Share options
Danamon does not issue share option program for Board of Directors, Board of Commissioners, and employee during 2021.
Employment Termination and Total Nominal of Severance Payment

Employees who are affected by termination of employment (Layoff) receive Severance. The Total amount of severance
paid is indicated in the table below:
Total Nominal Severance Paid Per Person in 1 (one) Total Employees

Year 2021 2020
Above IDR 1 Billion 28 26
Above IDR 500 Million up to IDR 1 Billion 51 15
IDR 500 Million and below 860 1,033
Details of The Amount of Remuneration Provided in 1 (one) Year

1. Fixed remuneration and variable remuneration;
2. Deferred and Undeferred remuneration; and
3. The form of remuneration provided in cash and/or shares or shares-based instrument issued by the Bank, as
indicated in the table below:
a. Fixed Remuneration *)
1. Cash IDR 79,359
2. Shares/ shares-based instrument issued by the Bank **
b. Variable Remuneration *) Undeferred Ditangguhkan
1. Tunai Rp 35,214 Rp 4,797
2. Shares/ shares based instrument issued by the Bank ** 1,112,500 (shares)
Note:
*) Only for MRT and disclosed in million IDR
411
Bank’s Shares Buy Back
Quantitative information
1. Total remaining deferred remuneration either exposed to implicit or explicit adjustments;
2. Total reduction of remuneration caused by explicit adjustments during the reporting period; and
3. Total reduction of remuneration caused by implicit adjustments during the reporting period, as indicated in the
table below:
Total Reduction During Reporting Period

Variable Remaining Deferred Caused By Caused By
Remuneration Type *) Variable Explicit Implicit Total (A) + (B)
Adjustment (A) Adjustment (B)
Cash (in IDR Mio) IDR 8,292 - - -
Shares/ Shares based
Instrument issued by
the Bank (in number of
2,313,571 shares - - -
shares and nominal in
IDR Mio as conversion of
number of shares)
Note:
*) Only for MRT and disclosed in million rupiah
BANK’S SHARES BUY BACK

AND BOND BUY BACK
There was no repurchase of both shares and bonds in 2021.
412
CONFLICT OF INTEREST
TRANSACTIONS
There are no reports of conflict-of-interest transactions during 2021.
Conflict of Interest Transactions is regulated in the Transaction Policy with Affiliated Parties, Related Parties and
Conflict of Interest Transactions. In the case that conflict of interest occurs in a transaction the relevant member of
the Board of Directors, Board of Commissioners must abstain from the review process or approval of the transaction.
Name and Position with Name and Position Type of Transaction Value
No. Information
Conflict of Interest of Decision Maker Transaction (Million Rupiah)
Nihil
FUNDING FOR POLITICAL ACTIVITIES
Danamon has a policy that prohibits Danamon’s involvement in political activities, including making donations in any
form for political purposes. During 2021, there will be no funding for political activities.
FUNDING FOR SOCIAL ACTIVITIES
Funding for social activities is disclosed in the Corporate Social Responsibility section of this Annual Report.
413
THE BANK’S
STRATEGIC PLAN
Danamon’s strategic plan is based on a vision: “We approach. The Bank will continue to focus on
Care and Enable Millions to Prosper“, because financial increasing the acquisition of low-cost funds (current
success is impossible to sustain without carrying out accounts and savings) through an institutional
responsibilities to the wider community. Danamon’s approach strategy.
mission is to become a customer-oriented organization,
serving all segments and offering unique value-added for If needed, Danamon will explore the issuance of
each segment, based on sales and service excellence, the bond/ Medium Term Note (MTN)/ Negotiable
and supported by the latest technology. Certificate of Deposit (NCD)/ Contingent Convertible
Bond/ others in accordance with the funding
Collaboration with MUFG has provided wide opportunities requirements, market conditions and prevailing
for the Bank and its Subsidiaries to become a unique regulations of the Financial Services Authority (FSA)/
hybrid bank, by combining the Bank’s strong local Bank Indonesia (BI) while taking into account and
capabilities and network with the support of MUFG’s maintaining the Macro-prudential Intermediation
global network and international-scale capabilities. This Ratio (RIM) in accordance with regulatory provisions
includes MUFG’s good relationship with multinational and Danamon’s business strategies.
customers, so that the Bank can expand and improve
its ability to serve customers. In 2022, the Bank will c. Non-interest income
continue to focus on understanding customer needs and Increase fee-based income through cross-selling,
providing one stop solution services supported by the bancassurance business, wealth management, cash
latest integrated technology, unique value proposition management, trade finance, FX, retail bonds and
and process improvements, accompanied by growth other products.
and good risk management.
d. Overhead costs
Short Term Plan Enhance Danamon’s and subsidiaries’ productivity
In 2022, Danamon has determined the strategic steps and efficiency through investment in technology
to be taken. to enhance digital banking, data analytics and
a. Credit automation capabilities, effective cost management,
Balanced growth with sustainable profitability driven improvement of human resource capability and
by loans in SME, Enterprise Banking, Consumer, and productivity in carrying out tasks, especially sales,
motor vehicle financing and multipurpose financing collection and frontliners, and a review the structure
through subsidiary - PT Adira Dinamika Multi Finance of branch network to improve operational efficiency.
(ADMF). Improvement or simplification of the credit These things are intended so that the Bank can
initiation process in the SME business, which reallocate investment in areas that are more
supported by technology and prudent credit policies. productive and sustainable.
Community approach-based growth through several
programs including: distributor financing and e. Asset quality
financial supply chain will be developed continuously, Maintain prudential principles in credit disbursement
supported by MUFG collaboration. Danamon is also through adjustment and establishment of enhanced
committed to improve its digital banking services customer selection criteria and in accordance with
to create customer engagement and provide a business dynamics, periodical Portfolio Quality
seamless experience for customers. Review meeting , increase risk awareness through
continuous credit risk training to business and risks
b. Funding teams, improve the “Rating System” capability by
Increase third-party funds deposit to support credit focusing on each target segment: mid-market,
growth including by: optimizing office network and commercial, and corporate, gradual automation
customer acquisition programs through customer of credit process, gradually developed the Loan
segmentation approach (mass market, emerging Origination System (LOS), and application of Early
affluent and affluent), cooperation with strategic Warning Signal on mortgage and SME business.
partners, subsidiary network and ecosystem Additionally, through MUFG collaboration, the Bank
414
The Bank’s Strategic Plan
will provide credit with good quality and participate In order for the Bank to promote and support the
in Supply Chain financing, lending to certain SOE and MUFG Collaboration, the Global Collaboration Office
large corporations and explore Financial Technology (GCO) will act as project management in the Bank.
(fintech) collaboration or alternative scoring with
external parties. g. Networks
Despite the rapid progress of digitalization in the
The Bank also implements strict and periodic banking industry, the Bank still sees the importance
monitoring of the COVID-19 restructuring portfolio, of having a physical branch office for customers,
and continues to strengthen collection activities, especially for the affluent segment. The Bank has
while adhering to health protocols in pandemic aspirations to transform its branch offices by
situation. combining the physical experience of the branch
with digital, in order to increase the branch’s
f. MUFG collaboration ability to provide financial solutions to customers.
Collaboration and synergy with MUFG, as a global However, the Bank will also continue to maintain
financial group and our majority shareholder, will be the distribution network efficiency ratio, among
a catalyst for enhancing the capabilities and growth others by consolidating the office network (including
of the Bank’s business. The main targets in the closing the network and merging the same activities
MUFG Collaboration will cover three areas; Business from two adjacent networks into one network) and
Collaboration, Digital Partnership and Platform opening office networks in potential new business
Collaboration (framework). areas.
Business collaboration with MUFG will be pursued h. Prime Lending Rate (SBDK)
by leveraging MUFG’s global network, especially The Bank will support Bank Indonesia’s program by
its strong relationships with Japanese and non- maintaining the Prime Lending Rate (SBDK) and loan
Japanese multinational companies, which have interest rates in 2022 at a reasonable level. This is done,
developed strong ecosystem in Indonesia. among others, by increasing productivity and efficiency,
maintaining credit quality and aligning the Bank’s cost
Digital Partnerships are also a key area of collaboration of funds in accordance with the development of the
with MUFG. MUFG has invested in and expanded Bank Indonesia Interest Rate (BI Rate).
relationships with digital start-ups in Indonesia and
other Southeast Asian countries. This has helped The amount of loan interest rate cannot be separated
the Bank to utilize and develop strategic partnership by the funding interest rate. In accordance with the
with digital start-ups, which aim to explore various Circular Letter of the Financial Services Authority
opportunities and expand the Bank’s digital business Number 9/SEOJK.03/2020 concerning Transparency
capabilities. and Publication of Conventional Commercial Bank
Collaboration Platform (framework) are intended Reports.
to improve internal control in the Bank, especially
in the areas of Financial Management, Compliance Mid to Long Term Plan (3-5 years)
and Integrated Risk through the introduction and Strategic steps that will be implemented in the next 3
exchange of knowledge and experiences of the Bank to 5 years are:
with MUFG. a. Credit
Supported by MUFG synergy, Danamon will
Apart from collaborating with MUFG, the Bank also continue to grow the loans of consumer, small and
intends to partner with other MUFG entities (“Partner medium, Enterprise Banking, and trade finance,
Banks”) in Asia such as the Ayudhya Bank (“Krungsri”) as well as financing of supply chain, financing of
in Thailand to improve capabilities in product household goods and financing of motor vehicles
development and internal control. while maintaining prudential principles in credit
underwriting and criteria of customer selection.
415
The Bank’s Strategic Plan
b. Funding the development of existing risk assessment tools,

With MUFG collaboration, Danamon can strengthen collaborate with bank-wide stakeholders involved
funding by increasing third party funds from in the change management project to oversee the
Enterprise Banking, SME, cross selling with motor development of policies, procedures & guidelines
vehicle financing and payroll, aside from retail as well as governance & oversight for all significant
banking. bank-wide transformation programs and / or
Change Risk Management projects in the second
Danamon will explore funding through the issuance line of defense area, ensuring risks are identified well
of NCDs/continuous bonds, as well as other types before project implementation, well managed during
of professional funding. If necessary, the Bank also project implementation and monitored after project
plans to obtain short- and long-term funding from completion by the Change Risk Management.
foreign markets. The exercise of these options will
depend on the Bank’s liquidity conditions, market d. Operational and CREM
conditions, and applicable regulations. Danamon Continuing efforts to provide simple, fast and unique
will maintain RIM, LCR and NSFR in accordance to services to improve service to customers and
prevailing regulations. encourage customers to use alternative networks
other than branches. Continue to review business
c. Risk Management processes and continue centralizing processes to
The strategic steps to be undertaken in relation to achieve efficiency. The Bank also anticipates the
risk management are keeping Danamon’s growth transmission of the Covid-19 virus by maintaining
at an acceptable and prudent level, maintaining and paying attention to the cleanliness and safety
optimal implementation of Danamon activities at of employees and customers who enter Danamon’s
“anticipated” liquidity risk level, and minimizing premises and making Danamon a safe place to work.
the “unanticipated” liquidity risk in obtaining cash
flow funding sources, continuing the development e. Information technology
and implementation of the scorecard/ internal Continue to increase digital service offerings to
rating model for credit risk in all business consumer and corporate customers, increase
lines in stages to support the credit process, data analytics capabilities to help bank meet the
improving the implementation of operational customers’ needs more precisely, support business
risk management framework and strategy and teams with information technology that enables
operational risk awareness across all business them to build relationships with customers, and
lines and Subsidiaries, improve oversight of the improve IT capabilities in more efficient operational
implementation of the information security and process and security.
technology risk management framework, including
416
ACCESS COMPANY Access Company
INFORMATION
Danamon provides access and ease of information In order to improve service and consumer protection,
for stakeholders regarding Danamon through fulfill product and service information needs, and
communication media such as Press Releases and handle customer and/or prospective customer
Analyst Briefing Booklets. In addition, Danamon complaints, Danamon has prepared a communication
provides information on products and services, investor medium through Hello Danamon. Hello Danamon can
information, office network, financial reports, annual be accessed 24 hours via telephone number 1-500-090
reports, reports and implementation of governance and and via email: [email protected], twitter: @
social activities, corporate actions and others which are hellodanamon.
presented through the website http://www.danamon.
co.id both in Indonesian and English.
In addition, the public can also contact:

Unit Telephone Number Email
Corporate Secretary (021) 80645000 Ext. 8706; 8794 [email protected]
[email protected]
(021) 80645000 Ext. 8621; 8611
Investor Relations (021) 80645000 Ext. 8621; 8611 [email protected]

Corporate Communications (021) 80645000 Ext.8301; 8328 [email protected]
417
INVESTOR
Investor Relations
RELATIONS
Investor Relations is under direct supervision of the • Engage in Danamon’s strategic projects, including
Finance Director. The role of Investor Relations includes those dealing with independent consultants.
the following financial and strategic aspects:
• Deliver regular financial performance updates, In performing its duties, Investor Relations works closely
business strategies, work plans to the investors/ with the management, the leaders of each business unit,
analysts, other stakeholders (rating agencies, Corporate Communications, Integrated Risk, Corporate
creditors, regulators) in the form of quarterly Secretary and other teams under the Finance Director.
performance exposures, meetings, conferences,
and etc. Information about Danamon’s performance update and
• Provide adequate, reliable and timely information strategy can be accessed through the website www.
about Danamon’s corporate actions to each danamon.co.id.
stakeholder.
Information Disclosure for Investor during 2021

Media Frequency Description
Public Expose for media, analysts and senior management
Analyst presentation/
4 times to provide final information on financial and non-financial
Public expose
conditions.
Publication of quarterly financial statements in accordance with
Financial Report 4 times
Bapepam-LK requirements as a public company.
A comprehensive report to the public and stakeholders on
Annual Report 1 time
Danamon’s performance, business and other activities.
Meetings with local/ overseas analysts/ investors to provide
Virtual meetings 10 virtual meetings
information on Danamon’s strategy and performance.
418
SERVICE QUALITY &
CONTACT CENTER
To improve customer-oriented services, we must always Service Program & Activities
keep abreast of changes to all the growing needs and In meeting the needs of millennials and current trends,
expectations of customers. Currently, companies in the various Service Programs, Fun Activities & Virtual Events
service/banking sector are competing with each other are presented to increase skills & knowledge, as well
to attract customers’ interest, by presenting various as provide motivation and appreciation for front liners
conveniences and facilities that are added value for who excel.
customers.
Along with changes in activities during the Covid-19
In order for customers to be interested in using the pandemic, one of the alternative methods to improve
products and services offered, one way is to build strong skills and knowledge, we also invite all front liners to
Customer Centricity and Customer Relationships, so play while learning with Digital Quiz Gamification which
that customers will be more confident, trust, feel safe is carried out simultaneously through Microsoft Teams,
and comfortable in using these products and services. and presents Senior Management who always provides
inspiration and new insight to the entire Branch team
Friendly, enthusiastic, responsive, alert, and customer- and Hello Danamon Contact Center.
oriented services will increase customer trust and
loyalty. This is a service strategy that will make Customer One of the developments carried out in the appreciation
Stickiness so that sales will increase. program from customers to front liners, namely
e-Golden Ticket, was made an additional Stars Rating
To that end, the entire Branch team and Hello Danamon menu, where customers can give a Rating of 1-5 based
Contact Center are expected to continue to contribute on the service experience felt by the customer.
and collaborate in providing the best services and
solutions to customers, which is supported by various Service Improvement
initiatives from the Service Quality team, including: The account opening process carried out by the Sales
team is implemented digitally through a mobile tab, to
Service Strategy & Development increase the productivity of the Branch team and provide
“Nasabah Lengket, Penjualan Meroket” is a service convenience, comfort and security for customers in
strategy delivered through a Virtual Service Camp which transactions.
was attended by Branch teams throughout Indonesia.
Customer Stickiness is an important thing that needs to While opening accounts for customers who come to
be improved to be able to provide positive value from branches, there are improvements made to several
customers to Danamon, namely by: piloting branches, where security officer directs
1. Be Accountable customers to fill in their personal data directly and
2. Be Consistent independently using mobile phones, through the
3. Be There for Customer website version of D-Bank Registration with the link:
4. Create an Emotional Appeal https://register.dbank.co.id. Then, data verification, card
5. Keeps Things Simple linking, e-channel activation and other processes are
carried out by Customer Service.
Various learning materials, tips, service guides, were
created as a provision for front liners in implementing
service strategies that have an impact on business,
as well as responding to various banking needs of
customers, which are created and communicated
through interesting and fun methods, such as Service
Podcasts, Roleplay Gamification D’ Shima & Treasure
Hunt, Video Learning, and many more.
419
Hello Danamon
Service Achievement
In 2021, various awards that have been achieved by Danamon in the Service field are as follows:
No Organizer Award Award Category Rank
1. Satisfaction Loyalty SLE Index 2021 1
Marketing Research and
Indonesia & Infobank Engagement Survey Loyalty Index Performance 2021 1
2020/2021
Engagement Index Performance 2021 2
Satisfaction Index Performance 2021 7
2. Best Overall Performance 7

Banking Service
Marketing Research
Excellence Best Performance – Digital Banking 4
Indonesia & Infobank
Awards 2020/2021
Best Performance – Walk-in Channel 5
Best Performance – Customer Service 6
Best Performance – Teller 1
Opening Account Website Application
1
Performance
Opening Account Mobile Application Performance 8
Call Centre Performance 2
Hello DANAMON
As an information service center that is always ready to Video Banking services are always ready to help
serve customers 24 hours/7 days, Hello Danamon team customers who open accounts through D-Bank
located in Jakarta, Tangerang, Bekasi & Semarang, by Registration. With continuous innovation and system
continuing to provide the best solutions and maximum development, the process of opening a digital account
service, through telephone number 1-500-090, Twitter is becoming simpler, easier and more convenient for
@hellodanamon, email: [email protected], customers.
and coming soon will launch banking chat feature, where
customers can chat via WhatsApp with Hello Danamon. During 2021, Bank Danamon recorded 9,776 complaints,
99.97% were resolved quickly in accordance with
To improve service to customers, Hello Danamon staff established standard procedures. The number of
can now serve various transactions and also as a channel customer’s complaint in 2021 as follows:
that contributes to business in increasing revenue.
Case Resolved In Progress

Type of Financial Total of
No Number of Number of
Transaction Percentage Percentage Complaints
Complaint Complaint
1 Funding 884 7.01% 4 0.03% 888
2 Lending 108 0.86% 4 0.03% 112
3 Payment System 11,299 89.64% 213 1.69% 11,512
4 Partnership Products 89 0.71% 1 0.01% 90
5 Other Products 3 0.02% 0 0.00% 3
Total 12,383 98.24% 222 1.76% 12,605
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CORPORATE
CULTURE
Corporate culture is the values that guide, organize To support this implementation, all employees and
and control the behavior of employees, members of management are committed together in a collaborative
the Board of Directors and Board of Commissioners of activity with the theme Danamon Rumah Kita. It is
Danamon in carrying out their duties and obligations to intended that all elements in the company can unite and
achieve goals in accordance with Danamon’s Vision and provide mutual support in implementing the company’s
Mission. values.
“Corporate Values” are values that are currently upheld As an implication of these corporate values, Danamon
by the Company in the course of realizing the Company’s also has the initiative to develop an Employee Values
vision and mission. Proposition (EVP) which is a promise from the company
to its employees in exchange for the effort, time, and
Danamon’s corporate value consists of Berkolaborasi, work that employees give to the company.
Integritas, Sigap melayani and Adaptif, which is
abbreviated to BISA. 1. Global Exposure
G
lobal exposure and experiences through business
• Berkolaborasi collaboration and sharing of global best practices.
Aligning diversity as a force to achieve Common Giving Employees the opportunities to drive
goals. Includes working for a purpose, a sense of innovation for Bank’s sustainable growth.
belonging, and mutual respect. 2. Rise to Excellence
• Integritas Builds a strong supportive and collaborative working
Prioritizing professionalism, openness, responsibility environment that inspires new ideas.
and ethics as consistent performance guidelines. 3. Own the Future
Include responsibilities, always be open, and be fair. Encourages employee to grow personally
• Sigap Melayani and professionally by providing development
Provide the best service quickly, swiftly and opportunities that support them to build their
accurately. Includes Orientation to customers, future career.
providing added value and providing the best 4. Wellness and Wellbeing
service. Genuinely cares for employee wellness and well-
• Adaptif being. As a part of Danamon’s family, together we
Always adjust and improve the potential to be the support and take care of our social communities.
best. Includes being competitive, innovating, and
agile. With the company’s values and EVP, it is expected that
employees can work better and be more engaged with
In internalizing company values, Danamon has the company so that productivity will also increase.
communicated starting from awareness to all
employees, explaining the behaviors of each value, giving
appreciation to employees who make the company
values as their daily behavior and an example for other
employees, as well as changing the code of ethics,
internal provisions related to recruitment, performance
appraisal, work methods and culture, and so on.
421
CODE OF
Code Of Conduct
CONDUCT
Danamon’s Code of Conduct is an ethical value that • Anti-Money Laundering and Combating the Financing
refers to the vision, mission and values of the corporate of Terrorism: Danamon’s commitment to combating
culture. The code of conduct becomes a guideline of money laundering, financing terrorism and any other
conduct for all management (Board of Directors, Board kind of crimes.
of Commissioners, Sharia Supervisory Board, including • Danamon Business ethics: to govern all matters
but not limited to parties outside of Danamon who are related to work ethics, namely personal ethics in
members of the Audit committee or Risk Management Danamon’s environment, ethics with customers,
Committee) and employees in conducting daily tasks ethics with third parties, ethics with regulators, ethics
and establishing relationship with customers, colleagues between management and employees, protection
and third parties. The code of conduct is expected and use of customer facilities, relationship and
to support the business continuity and reputation of associates, bribery and corruption, ethics with
Danamon. competitors, and sustainable growth.
• Enforcement of the Code of Conduct: requires
The Code of Conduct Statement Applies at All the roles and responsibilities of management and
Levels of Corporate Organization employees, the annual statement, whistle-blowing
Management and employees without exception, must system, violation of the Code of Conduct, and the
know, understand, obey, and implement the Danamon implementation of the Code of Conduct.
Code of Conduct. The Code of Conduct is binding and
therefore violation of the Code of Conduct may be Sanctions imposed during 2021
subject to sanctions of either administrative, civil or Type of Sanctions Number of Employees
criminal in accordance with the applicable provisions
Termination of
and procedures. Consequences of violation of the Code 15
Employment
of Conduct will be sanctioned up to termination of
Warning Letter I 93
employment.
Warning Letter II 1
The content of the Code of Conduct includes: Warning Letter III 23
• Introduction: contains things related to the Reprimand Letter 54
background of the Code of Conduct, objectives, Total 186
vision, mission, and values of Danamon.
• Zero tolerance to fraud: emphasized that the
Company has zero tolerance for fraud. Management
and Employees are responsible for preventing fraud
and are required to implement the Integrity Pact for
the Implementation of the Anti-Fraud Strategy
• Conflict of interest: to govern all matters concerning
conflict of interest between personal interest and
Danamon’s interests, activities outside Danamon,
the use of Danamon assets and personal investment.
• Danamon Information Management: to govern
all matters about Danamon’s information
management, namely the safeguarding of Danamon
information, the accuracy of Danamon’s reporting
and recordkeeping, Danamon’s identity, social media
usage and providing information to other parties.
422
ANTI-BRIBERY AND Anti-bribery And Corruption Policy
CORRUPTION POLICY
Danamon is inseparable from relationships and in performing activities on behalf of Danamon.
interactions with customers and other related parties c. Fake or hide books, records, accounts, or other
in carrying out banking business activities. In carrying data related to Danamon’s business, customers,
out these interactions, Danamon has the principle of service providers, vendors, suppliers, or other
zero tolerance for bribery and corruption, including any business partners. Every expenditure must be
attempt to take advantage of gifts, entertainment, and/ recorded, transparent, and equipped with adequate
or business hospitality, or other benefits to obtain or evidence so that the financial records are not
maintain business or obtain improper business benefits. misused to support or hide bribery and corrupt acts.
d. Make political contributions, personally or on
To support this commitment and realize the importance behalf of Danamon.
of taking a firm stance on handling and mitigating acts of e. Provide job offers or job opportunities to a
bribery and corruption to implement good governance candidate with the expectation that Danamon will
and business practices, in 2020, Danamon has issued obtain or retain an improper advantage or business
an Anti-Bribery and Corruption Policy which is prepared opportunity.
concerning the laws and regulations, Danamon’s values,
and the applicable Code of Ethics, serve as clear Throughout 2021 Bank Danamon has established an
guidelines for taking concrete actions to prevent bribery Anti-Bribery and Corruption compliance program
and corruption. including the following control processes:
• periodic assessment of risks and controls over acts
Danamon in principle prohibits all forms of corruption of bribery and corruption;
and bribery, namely: • due diligence and supervision of third party service
a. Offer, promise, and/or give Anything of Value providers acting on behalf of Bank Danamon (ie,
directly or indirectly to anyone with the intent of intermediaries);
obtaining or retaining an improper business benefit • reviews of gifts and hospitality, job offers or work
or advantage. experience, donations, sponsorships, and honoraria;
b. Request and/or receive Anything of Value either as well as
directly or indirectly from anyone who is intended to • evaluation and management of risks associated with
improperly influence Management and/or Employees business transactions.
ANTI-FRAUD POLICY
Danamon does not tolerate acts of fraud. Strict • Report immediately if you find evidence, indication, or
sanctions are given to fraud perpetrators per applicable suspicion of fraud including violations of Danamon’s
regulations. Danamon actively participates in upholding code of ethics, procedures, rules, and regulations.
an anti-fraud culture and is committed to working with • Implement 4D rules: Discipline in implementing
the following principles: policies and procedures, Dual Control, Dual Custody,
• Signed the Anti-fraud Integrity Pact and committed and Segregation of Duty in carrying out every
to implementing it. operational activity.
• Utilizing the Danamon Whistleblowing System (WBS) • Implement 4K principles: Know Your Customer, Know
channel. The identity of the reporter is guaranteed Your Employee, Know Your Process and Procedures,
confidentiality. Know What To Do.
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INTERNAL FRAUD
Internal Fraud
Internal fraud is the fraud carried out by the management, permanent employees, and non-permanent employees
(honorary and outsourced personnel) related to work processes and operational activities. The table below is the
number of internal fraud cases with financial impact of more than IDR 100,000,000 (one hundred million rupiah):
Total Cases Involving

Internal Fraud Management Permanent Employees Non-Permanent Employees
2021 2020 2019 2021 2020 2019 2021 2020 2019
Total internal fraud - - - 7 13* 15 - - -
Completed - - - 3 12 15 - - -
In Internal Process - - - 4 - - - - -
Pending Process - - - - - - - - -
Followed up through Legal action - - - - - - - - -
*1 case no sanction recommendation due to related employees have been resigned/terminated in other case.
WHISTLEBLOWING SYSTEM
Whistleblowing System is a communication channel to facilitate whistleblower(s) to report incidents or allegations
related to fraud, policy offenders, bribes/lending-borrowing money from customers, sexual harassment, theft/
embezzlement, financial report fraud, illegal activity and other code of conduct violations involving Danamon
employees and/or parties related to Danamon with the reporter’s identity kept confidential. The whistleblowing
system is a form of Danamon’s commitment in supporting the implementation of good corporate governance and
integrity in business practices.
In an effort to improve whistleblowing reporting system that is more independent, transparent, simple, confidential,
protected and monitored for reporters, Danamon collaborates with third party in managing and providing Danamon
Whistleblowing Service (WBS).
Any employee may report any deviations or suspected deviations that have taken place openly, responsibly, in
good faith and without fear or worry because confidentiality is guaranteed. Danamon will protect and maintain the
confidentiality of the reporter’s identity.
Reports received together with the investigation results are registered every month to be reported periodically to
Management and the Audit Committee. Any information that enters the whistleblower channel will be reviewed and
followed up by the Whistleblower team appointed by Danamon.
Whistleblower Policy
Danamon has a whistleblower policy that is socialized to all employees through various media such as email blast,
Danamon Portal, and Danamon website (www.danamon.co.id).
424
Whistleblowing System
Mechanism of Violation Report Submission Danamon also provides legal protection that is in line with
Danamon provides an easily accessible reporting facility the prevailing laws and regulations. This commitment
through several communication channels, as follows: covers protection from criminal and/or civil claims, as
• E-mail address: [email protected] well as protection for personal and/or reporter’s family
• Website: https://danamon-wbs.info/ safety from physical and/or mental threats.
• SMS/Whatsapp: 0811-825-2662
• Postal Address: KPMG Siddharta Advisory – Managing Complaint, Party Who Manages
EthicsLine BDI Complaints, and Imposing Sanction
• Wisma GKBI Floor 35, Jl. Jend. Sudirman 28, Jakarta Danamon appoints an independent third party in
10210 managing the Danamon WBS, including managing the
follow up and administration of the complaints. Third
Potential Violations by the Board of party WBS manager will forward the report received to
Commissioners and Board of Directors the Danamon WBS team to be evaluated whether it
Potential or suspected violations by members of the will be further processed to the investigation stage or
Board of Commissioners or the Board of Directors can forwarded to the appropriate party.
be reported through the above communication channels
and will be escalated to an independent party other than Investigation of potential violations is undertaken by an
the suspected party in the report, such as the Chairman independent Internal Investigation Team that upholds
of the Audit Committee (Independent Commissioner) or presumption of innocence principle and objectivity.
Chairman of the Board of Commissioners. Investigation results will be the basis for the decision to
take actions and/or impose sanctions in accordance with
Protection for Reporters the applicable laws and regulations and/or Danamon’s
Danamon provides protection to the reporters to provide internal regulations to the parties or perpetrators who
security for reporters. Protection provided to reporters, are proven to have committed the violations.
among others:
a. Protection of confidentiality of the reporter’s identity Reports on Investigation Results are reported to the
including information that can be used to contact Board of Directors and the Audit Committee periodically.
the reporter.
b. Protection against retaliation from the reported
party or other interested parties. Result of Complaint Handling in 2021
c. Protection from pressure, employee rights, lawsuits, Danamon has received 11 complaint reports through
property and physical retaliation. WBS channels. As of the end of 2021, 7 reports had been
d. Protection is not only for the reporter but can also be completely investigated, of which 1 report was proven to
extended to family members of the reporting party. be fraud or has violation of procedures/code of ethics
and 6 reports were not proven to be fraud/violation of
procedure/code of ethics. While the remaining 4 reports
are still being investigated.
Investigation Status of Complaints

Completed
Complaint
Received Completed Proven Fraud/ Investigation
Investigation Violation of Procedure/ Code Not Proven in Progress
of Ethics
11 7 1 6* 4
*4 out of 6 cases were closed without investigation based on initial validation results.
425
THE IMPLEMENTATION OF
CORPORATE GOVERNANCE
GUIDELINES IMPLEMENTATION
Based on POJK No. 21/POJK.04/2015 concerning (twenty five) governance recommendations submitted
Implementation of Public Company Governance by OJK. Danamon as a public company has taken into
Guidelines and SEOJK Number 32/SEOJK.04/2015 account and implemented the aspects, principles and
concerning Public Company Governance Guidelines, recommendations of the OJK in accordance with the
there are 5 (five) aspects, 8 (eight) principles and 25 applicable POJK.
IMPLEMENTATION OF 25 PUBLIC COMPANY GOVERNANCE GUIDELINES RECCOMENDATION

Nr. Principle Recommendation Description
A. Relation Between Public Company and Shareholder in Ensuring Shareholders’ Rights
1. General Meeting 1.1. Public Company has a technical Danamon has GMS Rules that regulate the
of Shareholders’ method or procedure for voting, both holding of the GMS including voting procedures,
V a l u e openly and privately, that prioritizes decision making and voting procedures that
Increament independence and the interests of prioritize the independence and interests of
shareholders. shareholders. All GMS procedures and rules are
available and accessible through the Danamon
website (www.danamon.co.id).
Status : Fulfilled (comply)

1.2. All Board of Directors and Board of In connection with the COVID-19 pandemic,
Commissioners’ public company the AGMS which was held on April 30, 2021
member attend the Annual GMS and the EGMS on August 26, 2021, were held in
(AGM). compliance with the applicable health guidelines
and procedures from the Government.
The AGMS was attended by all members of the

Board of Directors and Board of Commissioners
who were arranged to attend some physically
and some attend online to comply with health
protocols. whole,
Status: Fulfilled (comply)

1.3. Minutes’ summary of the GMS is Danamon uploads a minutes’ summary of the GMS
available on the Public Company on the 2 (two) working day after the GMS is held.
Website for at least 1 (one) year.
The minutes’ summary of the GMS from 2015
to date is available on the Danamon website,
both in Indonesian and in English.
Status : Fulfilled (comply)

2. I m p r o v i n g 2.1 The Public Company has a Danamon has a communication policy that
the Quality of communication policy with regulates the process of providing information to
Public Company shareholders or investors. shareholders and the investment community in a
Communication fair and timely manner about Danamon, so that it
with Shareholders can assess the strategy, development, operations
or Investors and financial performance of Danamon, as well
as enable shareholders and the investment
community to be actively involved with Danamon.
Status: Terpenuhi (comply)

2.2 The Public Company discloses the The Communication Policy has been made
Public Company’s communication available to the public, including Danamon’s
policies with shareholders or Shareholders or Investors, which can be
investors on the Website. accessed through the Danamon website.
426
The Implementation Of Corporate Governance Guidelines Implementation

B. Board of Commissioner Function and Role
3. S t r e n g t h e n i n g 3.1 The determination of the number The number, composition and structure of the
the Membership of members of the Board of Board of Commissioners has complied with
and Composition Commissioners takes into account the provisions and is in accordance with the
of the Board of the conditions of the Public Company. size and complexity of Danamon’s business
Commissioners by taking into account the provisions of the
Financial Services Authority Regulation (POJK)
Number 33/POJK.04/2014 concerning the
Board of Directors and Board of Commissioners
of Issuers or Public Companies and POJK
Number 34/ POJK.04/2014 concerning the
Nomination and Remuneration Committee for
Issuers or Public Companies.
At the end of 2021, Danamon’s Board of

Commissioners consists of 8 (eight) people, of
which 50% of the total Board of Commissioners
are Independent Commissioners.
The number of members of the Board of

Commissioners does not exceed the number
of members of the Board of Directors,
amounting to 8 (eight) people.

3.2 The determination of the composition Danamon has a diversity policy for members
of the members of the Board of of the Board of Commissioners.
Commissioners takes into account
the diversity of expertise, knowledge, The composition and structure of the members
and experience required. of the Board of Commissioners of Danamon
has taken into account the knowledge,
expertise and experience in order to optimize
the implementation of the supervisory
function of the Board of Commissioners.

4. I m p r o v i n g 4.1 The Board of Commissioners has a Danamon memiliki Kebijakan Penilaian Kinerja
the Quality self-assessment policy to assess terhadap Dewan Komisaris yang disusun
of Duties and the performance of the Board of sebagai pedoman untuk menilai kinerja dalam
Responsibilities Commissioners. pelaksanaan tugas dan tanggung jawab Dewan
of the Board of Komisaris.
Commissioners
Status: Terpenuhi (comply)
4.2 The self-assessment policy to assess Danamon has a policy for evaluating the
the performance of the Board of performance of the Board of Commissioners.
Commissioners is disclosed through The performance appraisal policy is disclosed
the Public Company Annual Report. in the Annual Report and is available on the
Danamon website.
427

4.3 The Board of Commissioners has Board of Commissioners of Danamon who
a policy regarding the resignation are involved in financial crimes are required
of members of the Board of to resign from the Board of Commissioners.
Commissioners if they are involved in The obligation to resign is regulated in the
financial crimes. Guidelines and Work Rules of the Board of
Commissioners.

4.4 The Board of Commissioners or The Board of Commissioners of Danamon has
the Committee that carries out a Nomination Committee and a Remuneration
the Nomination and Remuneration Committee that assists the implementation
function shall formulate a succession of the duties of the Board of Commissioners
policy in the process of nominating related to the function of nomination and
members of the Board of Directors. remuneration for members of the Board of
Commissioners and members of the Board of
Directors of Danamon.
Danamon has a Board of Directors Succession

Policy in place to maintain leadership
continuity in the future.
C. Board of Directors Function and Role
5. S t r e n g t h e n i n g 5.1 The determination of Board of The number, composition and structure of
the Membership Directors number takes into account the Board of Directors have complied with the
and Composition the condition of the Public Company requirements and in accordance with the size
of the Board of and its effectiveness in decision and complexity of Danamon’s business.
Directors making.
As of December 31, 2021, Danamon’s Board
of Directors consists of 8 (eight) people. The
number of members of the Board of Directors
is the same as the number of members of the
Board of Commissioners.

5.2 The determination of Board of Danamon has a diversity policy for members of
Directors composition takes into the Board of Directors.
account the diversity, expertise,
knowledge and experience required. The composition and structure of the
members of the Board of Directors have
taken into account the knowledge, expertise
and experience that are in accordance with
the needs of the company, so as to optimize
decision making and improve the company’s
performance.

5.3 Members of the Board of Directors Danamon’s Finance Director holds a Bachelor’s
in charge of accounting or finance degree in Accounting and is a Certified Public
have expertise and/or knowledge in Accountant – Indonesia.
accounting. Status: Fulfilled (comply)
6. I m p r o v i n g 6.1 The Board of Directors has a self- Danamon has a performance appraisal policy
the Quality of assessment policy to assess the for the Board of Directors as a guideline to
Implementation performance of the Board of assess the effectiveness of the implementation
of the Duties and Directors. of the duties and responsibilities of the Board
Responsibilities of Directors.
of the Board of
Directors Status: Fulfilled (comply)
428

6.2 The self-assessment policy to assess Danamon has a policy for evaluating the
the performance of the Board of performance of the Board of Directors. The
Directors is disclosed in the Public performance appraisal policy is disclosed
Company’s annual report. in the Annual Report and is available on the
Danamon website.

6.3 The Board of Directors has a policy Members of the Board of Directors who are
regarding the resignation of members involved in financial crimes are required to
of the Board of Directors if they are resign. The obligation to resign is regulated in
involved in financial crimes. the Guidelines and Work Rules of the Board of
Directors.

D. Stakeholders Participation
7. Improving Corporate 7.1 The Public Company has a policy to In an effort to prevent Insider Trading,
Governance Aspects prevent insider trading. Danamon has a Private Securities Trading
through Stakeholder Management Policy (PEP) and Material Non
Participation Public Information (IMNP).

7.2 The Public Company has an anti- Danamon has a Code of Ethics that prohibits
corruption and anti-fraud policy. Management and Employees from committing
bribery and corruption in any form. In
addition, Danamon also has an Anti-Bribery
and Corruption Policy which regulates the
prohibition of acts of bribery and corruption
for all management and employees.
Bank Danamon has an Anti-Fraud Management

Policy which sets out a fraud risk management
strategy.

7.3 The Public Company has an anti- Danamon has a Procurement Policy that
corruption and anti-fraud policy. regulates restrictions and ethics in dealing
The Public Company has a policy with business partners or vendors in the
regarding the selection and capacity procurement of goods and services. This policy
building of suppliers or vendors. is available and disclosed on the Danamon
website.

7.4 The Public Company has a policy The fulfillment of the rights of creditors in the
regarding the fulfillment of creditors’ form of depositors (customers who place their
rights. funds in the company) is regulated through a
customer protection policy and a customer
service code of ethics that regulates:
• The right to obtain a sufficient explanation
of the product characteristics
• The right to access the terms and conditions
of fund products
• Ease of transacting through branches,
e-banking services or other means
determined by the Bank
• Earn profit/interest in accordance with
applicable regulations.
• Procedures for handling and resolving
customer complaints
429

7.5 Public Companies have a Danamon has an Anti Fraud Management Policy
whistleblowing system policy. and Framework as well as a Fraud Handling
Policy which regulates the whistleblowing
system. The management of the Danamon
whistleblowing system is managed by a
third party to ensure independence in its
implementation.
7.6 The Public Company has a policy of Danamon has a Remuneration Policy.
providing long-term incentives to the Status: Fulfilled (comply)
Board of Directors and employees.
E. Information Disclosure
8. Improving the 8.1 Public Companies utilize the use of Danamon continues to improve information
Implementation information technology more broadly disclosure media including on the website
of Information than the Website as a medium for to provide opportunities for shareholders
Disclosure information disclosure. and other stakeholders to easily access
information about Danamon.
Media: User Name:

Situs Web : www.danamon.co.id
@Danamon
Twitter : @HelloDanamon (layanan
nasabah)
Facebook : Bank Danamon
Instagram : @mydanamon
Linkedln : Bank Danamon Indonesia
YouTube : Bank Danamon

8.2 The Public Company Annual Report The Annual Report reveals the main and
discloses the ultimate beneficial controlling shareholders, the 20 largest
owner in the Public Company’s shareholders, and the profile of the
share ownership of at least 5% (five shareholder group above 5% (five percent).
percent), in addition to the disclosure Status: Fulfilled (comply)
of the final beneficial owner in the
Public Company’s share ownership
through the major and controlling
shareholders.
STATEMENT OF GOOD GOVERNANCE PRINCIPLES

IMPLEMENTATION
Danamon has implemented the principles of good
corporate governance. During 2021 there were no
material violations of the applicable laws and regulations.
430
Integrated Governance
INTEGRATED
GOVERNANCE
431
IMPLEMENTATION AND
Implementation And Implementation Report
IMPLEMENTATION REPORT
“ADAPT” is one of the most important factors to deal strategy, and believe that all company organs
with the various changes that occur in all Financial have competencies in accordance with their
Services Institutions (FSI) within the MUFG Group responsibilities.
Financial Conglomerate. The adaptation process carried b. The Main Entity and FSI in the MUFG Group Financial
out by FSI in the MUFG Group Financial Conglomerate Conglomerate must ensure that there is a check and
always applies the principles of good corporate balance system in the management of the company.
governance so that it can continuously improve the All levels of the company’s organization have
quality of integrated governance implementation. With performance measures based on agreed measures,
the implementation of good integrated governance, it is and are consistent with corporate values, business
hoped that the MUFG Group Financial Conglomerate can goals, and company strategy.
increase added value for all stakeholders and all FSI in
the MUFG Group Financial Conglomerate have good and Responsibility Principle
healthy fundamentals so that they are able to actively a. The Main Entity and FSI in the MUFG Group Financial
participate in the recovery of the Indonesian economy. Conglomerate must adhere to ethical values,
Danamon has been appointed as the Main Entity in the prudential principles, and laws and regulations
MUFG Group Financial Conglomerate by MUFG Bank, and internal policies that have been set in order to
Ltd as the Controlling Shareholder of Danamon. As the maintain business continuity.
Main Entity in the MUFG Group Financial Conglomerate, b. The Main Entity and FSI in the MUFG Group Financial
Danamon prepares a report on the implementation of Conglomerate must act as good corporate citizens
integrated governance as stipulated in the Financial in carrying out social responsibilities including caring
Services Authority (OJK) Regulation No. 18/POJK.03/2014 for the environment.
dated 18 November 2014 concerning the Implementation
of Integrated Governance for Financial Conglomerates Independence Principle
and OJK Circular Letter No. 15/SEOJK.03/2015 dated 25 a. The management of the Main Entity and FSI in the
May 2015 concerning the Implementation of Integrated MUFG Group Financial Conglomerate is carried out
Governance for Financial Conglomerates. professionally and independently, and free from
conflicts of interest, influence or pressure from any
MUFG GROUP INTEGRATED GOVERNANCE party that is not in accordance with the laws and
IMPLEMENTATION PRINCIPLES regulations, ethical values and principles. healthy
Principle of Openness business operation.
a. The Main Entity and FSI in the MUFG Group Financial b. In making decisions, the Main Entity and FSI in
Conglomerate are obliged to disclose material and the MUFG Group Financial Conglomerate must be
relevant information in a clear, accurate and timely objective and free from any pressure from any party,
manner, as well as comparable and easily accessible and are committed to running their business by
to shareholders and stakeholders. prioritizing professionalism.
b. The principle of openness adopted by the Main Entity
and FSI in the MUFG Group Financial Conglomerate Fairness Principle
does not reduce the obligation to comply with bank a. The Main Entity and FSI in the MUFG Group Financial
and/or company secrecy provisions in accordance Conglomerate must always pay attention to the
with applicable laws and regulations, restrictions on interests of all stakeholders based on equality and
job secrecy, and personal rights. fairness (equal treatment).
b. The Main Entity and FSI in the MUFG Group Financial
Accountability Principle Conglomerate must provide opportunities for all
a. The Main Entity and FSI in the MUFG Group Financial stakeholders to provide input and express opinions
Conglomerate must establish clear responsibilities for the interests of the company and have equal
for each company organ that are in line with the access to information in accordance with the
company’s vision, mission, business goals, and principle of transparency.
432
MUFG FINANCIAL CONGLOMARATE GROUP 2020, the financial conglomerate of the MUFG Group
has been recorded and administered by the Financial
Membership Structure Services Authority. The membership of the MUFG
Based on letter No. SR-63/PB.32/2020 dated March 30, Financial Conglomerate Group is as follows.
No. Company Relation With Danamon
Conglomerate
1 PT Bank Danamon Indonesia, Tbk Main Entity -
2 MUFG Bank cabang Jakarta Member Related Company
3 PT Adira Dinamika Multi Finance, Tbk Member Subsidiary
4 PT U Finance Indonesia Member Related Company
PT Adira Quantum Multi Finance (dalam
5 Member Subsidiary
proses likuidasi)
Based on the Extraordinary GMS of PT Adira Quantum 2021. This has also been recorded in the OJK’s Financial
Multi Finance (Adira Quantum) as outlined in the Deed Services Institution Licensing Information System
of Statement of Shareholders’ Decision No.126 dated (SIJINGGA). In connection with the change in UFI’s share
August 22, 2017 drawn up before Hasbullah Abdul ownership Bank Danamon has reported a change in the
Rasyid, SH, M.Kn, Notary in Jakarta, it was stated that members of the MUFG Group Financial Conglomerate to
Adira Quantum had discontinued operational activities OJK through the SIPENA reporting system on December
and is in the process of liquidation. Based on the 3, 2021.
decision letter of the OJK Board of Commissioners
dated December 21, 2017 No.KEP-103/D.05/2017, OJK Amendments to the Corporate Charter must be signed by
has revoked Adira Quantum’s business license. As of the all members in the MUFG Group Financial Conglomerate.
publication of this report, Adira Quantum is still in the UFI has submitted a letter to the Main Entity (“BDI”) to be
process of completing the liquidation process. removed from the MUFG Group Financial Conglomerate
on December 13, 2021 and all members of the MUFG
Referring to the MUFG Group Financial Conglomerate, Group Financial Conglomerate have signed a letter to
there is a change in the ownership of PT U Finance terminate UFI Membership as a member of the MUFG
Indonesia (“UFI”) from the previous share ownership Group Financial Conglomerate. Thus, the membership
by MUFG Bank, Ltd. and Mitsubishi-UFJ Nicos Co. Ltd. structure of the MUFG Group Financial Conglomerate as
became ownership by Chailease International Co. (Hong of 31 December 2021 is as follows:
Kong), Ltd. and PT Artha Sekawan Asia on August 31,
No. Company Relation With Danamon
Conglomerate
1 PT Bank Danamon Indonesia, Tbk Main Entity -
2 MUFG Bank cabang Jakarta Member Related Company
3 PT Adira Dinamika Multi Finance, Tbk Member Subsidiary
PT Adira Quantum Multi Finance (dalam
4 Member Subsidiary
proses penyelesaian likuidasi)
433
MUFG Group Financial Conglomerate Structure

The structure of the MUFG Group financial conglomerate as of 31 December 2021 is as follows.
Main Entity (Bank)

PT Bank Danamon Indonesia Tbk.
Related Company/Member (Bank)

MUFG Bank Cabang Jakarta
Related Company/Member
(Finance Company)
PT U Finance Indonesia1
Subsidiary/Member
Subsidiary/Member
(Financing Company
(Financing Company)
PT Adira Quantum Multi Finance
PT Adira Dinamika Multi Finance Tbk.
(in the process of completing liquidation)2
In Q3 2021 there was a change in UFI’s shareholder where MUFG is no longer listed as a shareholder of UFI. The change in UFI’s shareholders has been
1)
approved by the Regulator in Q4 2021. The Main Entity has submitted a letter of change MUFG Group’s financial conglomerate to the Regulator in December
2021 and is currently waiting for the Regulator to record those changes.
2)
Currently in the process of completing liquidation
Shareholder Structure
The shareholders of each member of the conglomerate up to the ultimate controlling shareholder are as follows:
Main Entity Shareholder Structure - PT Bank Danamon Indonesia Tbk
MUFG Bank, Ltd. Public

(direct and indirect)
7.53%
92.47% (22.400.000 shares) A series
(9.038.053.192 shares) B series (713.099.678) B series
Adira Finance Adira Quantum *)

92.07% 99.00%
*) dalam likuidasi
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Subsidiary Ownership Structure - PT Adira Dinamika Multi Finance Tbk (“Adira Finance”)
7.93% 92.07%
Public PT Adira Dinamika Multi Finance Tbk
Ownership Structure of Related Companies – MUFG Bank Jakarta branch

The Bank is a branch office of MUFG Bank, Ltd. Japan (Headquarters) and Mitsubishi UFJ Financial Group, Inc. (MUFG)
is the parent entity and the main shareholder of the Head Office of the Bank and its subsidiaries.
Management Structure
All members of the Board of Directors and Board of Commissioners of each entity of the MUFG Group Financial
Conglomerate meet the requirements of integrity, competence, and financial reputation. The following is the
management structure of each Entity in the MUFG Group Financial Conglomerate as of December 31, 2021:
Main Entity Management Structure
PT Bank Danamon Indonesia, Tbk

The composition of the members of the Board of Commissioners and the Board of Directors of the Main Entity as of
December 31, 2021 is as follows:
PT Bank Danamon Indonesia, Tbk.

Board of Commissioner Board of Directors
1. Takayoshi Futae President Commissioner 1. Yasushi Itagaki President Director

2. J.B. Kristiadi Vice President 2. Honggo Widjojo Vice President Director
3. Peter B. Stok Commissioner (Independent) Kangmasto
4. Nobuya Kawasaki Commissioner(Independent) 3. Herry Hykmanjto Director
5. Hedy Maria Helena Commissioner 4. Rita Mirasari Director
Lapian 5. Heriyanto Agung Putra Director
6. Takanori Sazaki Commissioner (Independent) 6. Dadi Budiana Director
7. Dan Harsono Commissioner 7. Muljono Tjandra Director
8. Halim Alamsyah Commissioner 8. Naoki Mizoguchi Director
Subsidiary Management Structure

PT Adira Dinamika Multi Finance Tbk.
The composition of the members of the Board of Commissioners and Board of Directors of PT Adira Dinamika Multi
Finance, Tbk, as of December 31, 2021 is as follows:
PT Adira Dinamika Multi Finance, Tbk

Board of Commissioner Board of Directors
1. Yasushi Itagaki President Commissioner 1. Hafid Hadeli President Director
2. Krisna Wijaya Independent Commissioner 2. Ho Lioeng Min Director
3. Manggi Taruna Habir Independent Commissioner 3. I Dewa Made Susila Director
4. Eng Heng Nee Philip Commssioner 4. Swandajani Gunadi Director
5. Muliadi Rahardja Commssioner 5. Niko Kurniawan Bonggowarsito Director
6. Congsin Congcar Commssioner 6. Harry Latif Director
7. Jin Yoshida Director
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Related Company Management Structure

MUFG Bank Jakarta branch
The composition of the members of the Supervisory and Management Board of MUFG Bank Jakarta branch as of 31
December 2021 is as follows:
MUFG Bank Jakarta Branch
Supervisory Board Management
1. Ramanathan S Managing Director (GM), 1. Daisuke Ejima Country Head of Indonesia

Regional Chief Compliance 2. Mahendra Rendiantama Head of Risk Management for
Officer for Asia and Head of Indonesia
Compliance Office for Asia 3. Dadi Arief Darmawan Head of HR & Banking Operations
(ACO) for Indonesia
2. Andre Managing Director of Asia 4. Yansen Darmaputraa Head of Systems for Indonesia
Painchaud Internal Audit Office (AIAO) 5. Akira Shimomiya Deputy Head of Japanese
Managing Director, Head of 6. Pancaran Effendi Corporate Banking for Indonesia
3. Tatsuya Risk Management Office for Head of Global Corporate
Ishikawa Asia, Chief Risk Officer for Asia & Institutional Banking for
(ARMO) Indonesia
4. Yukinobu Managing Director, Head of 7. Masao Kojima Head of Internal Control for
Saeki Planning Office for Asia (POA) Indonesia
8. Marchelius S Mario Head of Compliance for
Indonesia
INTEGRATED GOVERNANCE ORGANS

The MUFG Group Financial Conglomerate builds an integrated governance body to ensure that the principles of governance
are implemented properly. The integrated governance organs of the MUFG Group Financial Conglomerate are as follows:
MUFG Group Financial Conglomerate Integrated Governance Organ
MUFG Financial Conglomerate

Main Entity
Group Member Entity
Danamon
General Meeting of General Meeting of

Shareholders Shareholders
Danamon Board of Member Entity Board of

Sharia Supervisory Board Commissioner Danamon Commissioner *
Governance Board of Commissioner
Board of Commissioner
Committess Committee Committess
Audit Committee Audit Committee

Integrated Risk
Danamon Board of Member Entity Directors*
Management
Directors
Committee
Board of Directors
Committess Risk management function Board of Directors
SKMRT Committess
SKKT compliance function
SKAIT Internal audit function
related functions related functions
* can be adjusted to the organs within the Member Entities of the MUFG Group Financial Conglomerate by considering the type of
FSI, the needs of the company, the Articles of Association and the prevailing laws and regulations according to their respective
business sectors.
436
Coordination and Supervision Function Entity and the duties and responsibilities of the
Members of the Financial Conglomerate)
Note: • Integrated governance organs (including the Main
IRMU : Integrated Risk Management Unit Entity Board of Commissioners, Main Entity Board
ICU : Integrated Compliance Unit of Directors, Integrated Governance Committee,
IIAU : Integrated Internal Audit Unit Integrated Compliance Unit, Integrated Internal
The implementation of the governance organs in each Audit Unit, Integrated Risk Management)
FSI within the MUFG Group Financial Conglomerate, • Reports, disclosures and assessments (including
including the Board of Commissioners Committee and integrated governance implementation reports and
the Board of Directors Committee is disclosed in the disclosures, integrated governance implementation
annual report of each FSI. self-assessment methods and sanctions)
b. MUFG Group Financial Conglomerate Integrated
Governance Policy Part II :
INTEGRATED GOVERNANCE POLICY • Introduction (including background, objectives
for implementing governance, policy scope,
Danamon already has Integrated Governance Guidelines references, definitions, general provisions, and
which are the Terms of Reference for the implementation policy maintenance)
of Governance for Danamon as the Main Entity as well • Basic principles and scope of corporate
as the Terms of Reference for the implementation of governance
Governance for Subsidiaries and Related Companies in • Commitment to implementing good corporate
the MUFG Group Financial Conglomerate. In early 2021, governance
the MUFG Group Financial Conglomerate Integrated • Company vision, mission and values
Governance Policy update was published. This policy • Business ethics and code of conduct
can be accessed through the Bank’s Corporate Website. • Corporate governance structure/organs
The Bank as the Main Entity in the MUFG Group Financial (including shareholders, General Meeting of
Conglomerate has also submitted information on the Shareholders, Board of Commissioners, Board of
updated Policy to Subsidiaries and Related Companies Directors, Sharia Supervisory Board, Committees
in the MUFG Group Financial Conglomerate. of the Board of Commissioners, Compliance
Function, Corporate Secretary Function, Risk
The Integrated Governance Policy was prepared by the Management Function, Internal Audit Function,
Main Entity’s Board of Directors and approved by the and Audit Function external)
Main Entity’s Board of Commissioners and obtained • Principal policies related to the implementation
recommendations from the Governance Committee, of corporate governance (including corporate
Integrated Governance Committee, and Main Entity strategic plans, anti-bribery and corruption
Board of Commissioners. The scope of the Integrated policies, conflict of interest management,
Governance Policy includes: policies for managing private securities trading
a. MUFG Group Financial Conglomerate Integrated and material non-public information, related
Governance Policy Part I : party and affiliated party transactions, provision
• Introduction (including background, objectives of funds to related parties, procurement
for implementing integrated governance, policy policy, remuneration policy, ownership and
scope, references, definitions, general provisions, confidentiality of information, transparency
and policy maintenance) and disclosure of information, whistle-blowing
• Integrated governance principles system, relationship with stakeholders, and
• Vision, mission, values of corporate culture and corporate social responsibility)
business ethics • Assessment and reporting (including self-
• Guidelines for implementing integrated assessment and corporate governance
governance (including the criteria for the implementation reports and corporate annual
Financial Conglomerate, the structure of the reports)
Financial Conglomerate, the corporate charter,
the duties and responsibilities of the Main
437
BOARD OF COMMISSIONERS OF MAIN ENTITY members of the Main Entity’s Board of Commissioners
as of December 31, 2021, of which 4 (four) people or
The Main Entity’s Board of Commissioners, apart from 50% of them are Independent Commissioners. All
fulfilling the requirements as a member of the Bank’s members of the Main Entity’s Board of Commissioners
Board of Commissioners, also has an understanding of have passed the fit and proper test from the Financial
the main business activities and main risks of entities Services Authority.
in the Financial Conglomerate. There are 8 (eight)
Main Entity Board of

Position GMS Approval Date OJK Approval Date
Commissioner
Takayoshi Futae President Commissioner 23 March 2020 25 April 2019
Vice President
J.B Kristiadi P.
Commissioner/ 23 March 2020 25 April 2019
Independent Commissioner
Peter Benyamin Stok Independent Commissioner 23 March 2020 25 April 2019
Nobuya Kawasaki Commissioner 23 March 2020 20 May 2020
Hedy Maria Helena Lapian Independent Commissioner 26 November 2020 21 December 2020
Takanori Sazaki Commissioner 30 April 2021 25 August 2021
Dan Harsono Commissioner 30 April 2021 18 November 2021
Halim Alamsyah Independent Commissioner 26 August 2021 15 November 2021
Duties and Responsibilities of the Main Entity 4. Main Entity Board of Commissioners meeting can be
Board of Commissioners held via video conference;
The duties and responsibilities of the Board of 5. The results of the meeting of the Board of
Commissioners of the Main Entity in the financial Commissioners of the Main Entity are stated in the
conglomerate of the Danamon Group are regulated in the minutes of the meeting and well documented.
Integrated Governance Policy. Duties and responsibilities 6. Dissenting opinions that occur in the meeting of
of the Main Entity Board of Commissioners include: the Board of Commissioners of the Main Entity are
1. Supervise the implementation of Integrated clearly stated in the minutes of the meeting along
Governance with the duties and responsibilities of with the reasons for the difference of opinion.
at least:
a. Supervise the implementation of Governance Implementation of Duties and Responsibilities
in each Entity to comply with the Integrated of the Main Entity Board of Commissioners
Governance Policy; in 2021
b. Supervise the implementation of the duties Main Entity Board of Commissioners duties
and responsibilities of the Main Entity Board of impelementation in supervising the implementation
Directors, as well as provide direction or advice of integrated governance is assisted by the Integrated
to the Main Entity Board of Directors on the Governance Committee. The Integrated Governance
implementation of the Integrated Governance Committee evaluates the implementation of integrated
Policy; and governance and reports its implementation to the Board
c. Evaluating the Integrated Governance Policy and of Commissioners.
directing the improvement of the Policy.
2. Establish an Integrated Governance Committee During 2021, 2 (two) Board of Commissioners meetings
in order to support the effectiveness of the have been held whose agenda is to discuss the
implementation of its duties. Integrated Governance Committee report related to
3. Holding regular meetings at least 1 (one) time each the implementation of integrated governance which
semester with the following provisions: includes, among others, the results of the integrated
438
governance self-assessment, discussions regarding the of Directors, also has an understanding of the main
Main Entities in the financial conglomerate, Integrated business activities and main risks of the entities in the
Governance Policies Danamon Group, updating the Financial Conglomerate. There are 8 (eight) members of
Charter of the Integrated Governance Committee, as the Board of Directors of the Main Entity as of December
well as updating the implementation of the governance 31, 2021. The majority of members of the Board of
of Subsidiaries. Directors of the Main Entity have had a career in banking
for more than 25 years, both national and international
banks and have at least 5 (five) years of experience as
BOARD OF DIRECTORS OF MAIN ENTITY Executive Officer/Director of the company. All members
of the Board of Directors have passed the fit and proper
The Main Entity’s Board of Directors, apart from meeting test and have obtained approval from the Financial
the requirements as a member of the Bank’s Board Services Authority.
Main Entity Board of

Position GMS Approval Date *) OJK Approval Date
Directors
Yasushi Itagaki President Director 23 March 2020 5 December 2019
Honggo Widjojo Kangmasto Vice President Director 23 March 2020 5 December 2019
Heriyanto Agung Putra Director 23 March 2020 25 April 2019
Herry Hykmanto Director 23 March 2020 25 April 2019
Dadi Budiana Director 23 March 2020 25 April 2019
Rita Mirasari Director 23 March 2020 25 April 2019
Muljono Tjandra Director 23 March 2020 5 December 2019
Naoki Mizoguchi Director 23 March 2020 5 December 2019
*) Re-appointment of all members of the Board of Directors at the Annual GMS March 23, 2020
Duties and Responsibilities of the Main Entity 2. Ensure that audit findings and recommendations
Board of Directors from the Integrated Internal Audit Unit, External
Board of Directors of the Main Entity duties and Auditor, the results of the supervision of the
responsibilities in the financial conglomerate of Danamon Financial Services Authority and/or the results of the
Group are regulated in the Integrated Governance Policy supervision of other authorities have been followed
and the Guidelines and Work Orders (Charter) of the up by the Entities in the Financial Conglomerate.
Board of Directors. The duties and responsibilities of the 3. Responsible for carrying out the supervisory function
Board of Directors of Danamon as the Main Entity are of the Entities in the Financial Conglomerate.
as follows:
1. Ensure the implementation of Integrated Governance Implementation of Main Entity Directors
in the Financial Conglomerate with the duties and Duties and Responsibilities in 2021
responsibilities of at least: In 2021, the Main Entity’s Board of Directors with input,
a) Develop Integrated Governance Policy; recommendations and directions from the Board
b) Directing, monitoring and evaluating the of Commissioners and the Integrated Governance
implementation of the Integrated Governance Committee has updated the Danamon Group’s
Policy; and Integrated Governance Policy.
c) Following up on the direction or advice of the
Board of Commissioners of the Main Entity in
order to improve the Integrated Governance
Policy.
439
The Board of Directors of the Main Entity will submit from the Integrated Internal Audit Unit, External Auditor,
the enhanced Danamon Group Integrated Governance results of supervision by the Financial Services Authority
Policy to the respective Directors of the Subsidiary and/or results of supervision by other authorities.
Company in the Financial Conglomerate for follow up.
During 2021, there was no follow-up to the fulfillment of
The Board of Directors carries out the supervisory audit results from the regulator that passed the agreed
function of entities in financial conglomerates through time limit.
reports and meetings held during 2021 with topics of
discussion on Subsidiary Companies, implementation In order to support the effectiveness of the
of integrated governance and/or integrated risk implementation of supervisory duties, the Main Entity’s
management. The Board of Directors through reports Board of Directors is also a member of the Board of
and held meetings also ensures follow-up and Commissioners in subsidiary companies, namely as
improvement on audit findings and recommendations follows:
Position in Financial Conglomerate Subsidiary

Name Position in Main Entity (Danamon)
Company
President Commissioner PT Adira Dinamika Multi
Yasushi Itagaki President Director
Finance Tbk
INTEGRATED GOVERNANCE COMMITTEE established based on the Decree of the Board of

Directors No. Kep: DIR-Corp.Sec.-004 dated 12 August
Danamon as the Main Entity has established an 2015 regarding the Establishment of the Integrated
Integrated Governance Committee in accordance Governance Committee. The composition of the
with Financial Services Authority Regulation No. 18/ members of the Integrated Governance Committee
POJK.03/2014 concerning Implementation of Integrated currently refers to KSR-KOM.Corp.Sec-004 dated 17
Governance for Financial Conglomerates and Financial September 2021.
Services Authority Regulation No. 45/POJK.03/2020
concerning Financial Conglomerates. The Integrated Further details regarding the Guidelines and Work
Governance Committee was formed to support the Rules of the Integrated Governance Committee, Duties,
effective implementation of the duties of the Main Entity Responsibilities, Authority, Structure, Membership,
Board of Commissioners and assist the Main Entity Expertise and Legal Basis of Appointment, Independence
Board of Commissioners in the supervisory function of Committee members, Term of Office, Policy and
related to the implementation of integrated governance Implementation of Integrated Governance Committee
within the Danamon Group. Meetings, and Implementation of Duties The Integrated
Governance Committee in 2021 can be seen in the
The Integrated Governance Committee was first Corporate Governance Implementation Report in the
established by the Board of Commissioners and was Integrated Governance Committee section.
440
INTEGRATED COMPLIANCE Integrated Compliance
WORK UNIT
The implementation of the Integrated Compliance Unit compliance function of all entities in the MUFG Group
(ICU) function is carried out by the existing Danamon Financial Conglomerate.
Compliance Unit. The Compliance Unit is formed
independently and is under the responsibility of the Structure and Position of the Integrated
Director in charge of the Compliance Function (Director Compliance Unit
of Compliance). The structure and infrastructure is In line with the changes in the members of the MUFG
adequate so that it can support the implementation of Group financial conglomerate, the structure and position
the ICU function to coordinate, monitor and evaluate the of the Integrated Compliance Unit is as follows:
Main Entity Compliance Director
Main Entity Integrated

Compliance Work Unit
Compliance Function
MUFG Bank Jakarta Branch
Compliance Function Compliance Function

PT Adira Dinamika Multi PT Adira Quantum Multi Finance
Finance Tbk. (in process of liquidation)
Duties and Responsibilites of Integrated • Reviewing the report on the implementation of the
Compliance Unit compliance function submitted by the Subsidiary
Integrated Compliance Unit has the task of at least Company on a quarterly basis.
monitoring and evaluating the implementation of the • Coordinate and report changes in members of the
compliance function in each Entity in the Financial financial conglomerate to the Financial Services
Conglomerate. Authority.
• Submitting new regulations to Subsidiaries.
Implementation of Integrated Compliance • Monitor the implementation of the compliance
Unit Duties and Responsibilities in 2021 function of the Related Company based on reports
During 2021, the Integrated Compliance Unit has carried submitted to the Main Entity Compliance Unit on a
out its duties and responsibilities, including: regular basis.
• Carry out the duties and responsibilities of the • Monitor follow-up/improvement commitments on
Compliance Unit, which can be seen in the audit results conducted by the Financial Services
Governance Report of the Compliance Work Unit Authority.
section. • Conducting an integrated compliance risk
• Ensure that the compliance function of each FSI assessment and compiling an integrated compliance
within the MUFG Group Financial Conglomerate risk profile report.
is established independently and is supported by • Coordinate the assessment and preparation of
adequate compliance policies or guidelines. the results of the integrated governance self-
• Coordinate and monitor the implementation of assessment on a semi-annual basis.
the compliance function of Subsidiaries, including
providing consultative functions on compliance
implementation.
• Ensure the Subsidiary’s compliance with regulatory
parameters on a regular basis.
441
INTEGRATED INTERNAL
AUDIT UNIT
Structure and Position of Integrated Internal Audit Unit (IIAU)
President Director Audit Committee Board of Commissioners
Integrated Internal Audit Unit

(SKAI Danamon)
Internal Audit Unit

MUFG Jakarta Branch
Internal Audit Unit
PT Adira Dinamika Multi
Finance Tbk.
Bank Danamon (“Danamon”) as the main entity in SKAI, based on appointment letter No. B.194/HCKP/0819
MUFG Group Financial Conglomerate has an Integrated and this appointment has been reported to OJK based
Internal Audit Unit (“IIAU”), an independent unit from on Director Letter No. B.748 – DIR dated August 15, 2019
other operating units, which the implementation of its regarding Report on Dismissal of the Acting Head of SKAI
duties and responsibilities carried out by IIAU Danamon. and Appointment of the Head of SKAI PT Bank Danamon
IIAU reports to Bank Danamon President Director and Indonesia, Tbk (“Company”).
the Board of Commissioners via Audit Committee,
and monitors the implementation of internal audit of Further details of IIAU including duties and
each entity in Financial Conglomerate. U Finance was responsibilities, 2021 internal audit priorities as well as
no longer part of the conglomeration started from 3 plans and realization of audits as of December 31, 2021
December 2021. can be seen in the Corporate Governance Report in the
section of Internal Audit Unit (SKAI).
Since August 12, 2019, Integrated Internal Audit Unit (IIAU)
is led by Yenny Linardi as Chief Internal Auditor (Head of
SKAI) replacing Nathan Tanuwidjaja as an acting Head of
442
IMPLEMENTATION OF INTEGRATED
RISK MANAGEMENT
Integrated Risk Management Policy of MUFG as nominated. The Chairman of Committee is
Group Financial Conglomeration and The Main Entity’s Integrated Risk Director.
Implementation
Danamon as the Main Entity has Integrated Risk Integrated Risk Management Committee
Management Policy of MUFG Group Financial meetings are held regularly. Each member as an
Conglomeration which prepared based on the prevailing individual or group can request an extraordinary
Financial Services Authority (OJK) regulations, and is meeting to discuss a very important topic/ issue.
reviewed on regular basis. Integrated Risk Management The Integrated Risk Management Committee
Policy of MUFG Group Financial Conglomeration meeting is chaired by the Chairman of the
is the main policy which covers risk management Committee.
framework and as guidance for the implementation of
integrated risk management in MUFG Group Financial 2) Integrated Risk Management Working Unit
Conglomeration. Danamon’s Integrated Risk Directorate Danamon as the Main Entity has established
is responsible for developing overall risk management an Integrated Risk Directorate which is a
strategies that include policy, methodology, framework, Risk Management Working Unit that has risk
limit and procedure as well as controls periodically. In management roles and responsibilities in
2021, review on this policy has been done. Danamon individually, as well as an Integrated
Risk Management Unit in implementing
The implementation of Integrated Risk Management is integrated risk management in Financial
carried out as follows: Conglomeration.
a. Active Supervision of the Board of Directors and
Board of Commissioners of the Main Entity The Integrated Risk Directorate is an independent
The implementation of Integrated Risk Management unit from the risk-taking units and reports to
involves active supervision and oversight from the the Integrated Risk Director, who then reports
Board of Directors and Board of Commissioners directly to the President Director.
of Danamon as the Main Entity. In supporting
the effective integrated risk management In carrying out its function as an Integrated
implementation, the Board of Directors and Board of Risk Management Unit, Danamon Integrated
Commissioners of the Main Entity should understand Risk Directorate coordinates with the Risk
the risk in the Financial Conglomeration, develop Management Unit in each entity in the Financial
the risk culture, and ensure the implementation Conglomeration. Authority and responsibility of
of risk management in entities within Financial the Integrated Risk Management Unit, among
Conglomeration. In the implementation, Integrated others:
Risk Management Committee has been established • Provide input to Main Entity’s Board
in the Financial Conglomeration. of Directors and the Integrated Risk
Management Committee in the preparation
b. Integrated Risk Management Organization and improvement of the Integrated Risk
In order to implement a comprehensive and effective Management Policy.
Integrated Risk Management, the Main Entity has • Monitor the implementation of Integrated
established Integrated Risk Management Committee Risk Management Policy including to
and Integrated Risk Management Unit. develop the procedures and tools for risk
identification, measurement, monitoring,
1) Integrated Risk Management Committee and control.
The membership of the Integrated Risk • Conduct risk monitoring in the Financial
Management Committee consists of Main Conglomeration by monitoring the risk
Entity’s Integrated Risk Director, Main Entity’s profile of each entity in the Financial
Compliance Director, Main Entity’s Credit Conglomeration, both in individual and in
Director, Directors who represent Subsidiary and integrated manner, including the risk level
Sister Companies and related Executive Officers for each type of risk in an integrated manner.
443
• Conduct individual stress testing on Main Financial Conglomeration’s risk exposures.

Entity and/or coordinate the consolidated New line of business can be in the form of an
stress testing implementation with entity that is part of Financial Conglomeration
Subsidiary that consolidated to Main enter in a new market segment that can
Entity (Vertical Financial Conglomeration/ increase the risk exposure of Financial
Controlling Shareholder). Conglomeration.
• Conduct periodically review on risk • Provide the information to IRMC regarding
assessment methods, adequacy of the matters that need to be followed up
management information systems related to the evaluation of Integrated Risk
implementation, and the accuracy of policies, Management implementation.
procedures and limit of integrated risks. • Prepare and deliver the integrated risk profile
• Review the proposals of new line of business report regularly to Integrated Risk Director
that are strategic and significantly affect and Integrated Risk Management Committee.
INTEGRATED RISK MANAGEMENT COMMITTEE

Chairman Integrated Risk Director of the Main Entity (Danamon)
Permanent Member • Compliance Director of the Main Entity (Danamon)
• Credit Director of the Main Entity (Danamon)
• Representative and appointed Director from each Subsidiary and Sister Companies
• Appointed Division Heads in Integrated Risk Management Working Unit
Permanent Invitee Chief Internal Auditor of Main Entity (Danamon)
Status of Voting Rights and Decision Making c. ldentification of issues that may impact financial,
The Committee Meeting Resolutions shall be adopted compliance/regulatory, legal, and reputation
based on consensus principle. ln the event there is no risks for the Financial Conglomeration based
consensus, the resolution shall be determined based on data/information being shared by Financial
on majority vote in which 1 (one) entity can cast for 1 Conglomeration members.
(one) vote. ln the event the vote is a tie, the Chairman d. Escalation of all risk related matters that require
of Committee is authorized to determine the decision. the attention of the Directors of the Main Entity or
entities within the Financial Conglomeration.
Roles and responsibilities of the Integrated e. Asssessment of key risks in the entities and across
Risk Management Committee entities within Financial Conglomeration including
The main role of Integrated Risk Management Committee the formulation of strategies to deal with existing
is to evaluate and give the recommendation to Main and emerging risk issues
Entity’s BOD related to:
a. Preparation of the integrated risk management policy, Attendance of member in the Integrated Risk
framework and guideline, and periodic improvement Management Committee Meeting
based on evaluation of the implementation. During 2021, Integrated Risk Management Committee
b. Evaluation of the effectiveness of the implementation has held 2 meetings i.e. in February and August 2021.
of integrated risk management policies, frameworks
and guidelines
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The following is the attendance of committee members in meetings during 2021:

Number of Member Attendance
Committee Member Title
in Committee Meeting
Adnan Qayum Khan Danamon’s Integrated Risk Director 1 (resign at the end of Jul 2021)
Rita Mirasari Danamon’s Compliance Director and Integrated Risk 2
Director (acting – since IRMC August 2021)
Dadi Budiana Danamon’s Credit Directtor 2
Ho Lioeng Min Director of PT Adira Dinamika Multi Finance, Tbk 2
Marchelius Santiaji Mario Director of MUFG Bank, Ltd. Jakarta Branch 2
Yuji Ueda Director of PT U Finance Indonesia 2
Iwan Dharmawan Danamon’s Credit & Enterprise Risk Management 1 (resign at the end of Aug 2021)
Division Head
Eunice Kurniawan Danamon’s Operational Risk Management, Fraud & QA 2
Division Head
Ari Priyatna Danamon’s Market & Liquidity Risk Management 2
Division Head
Meetings and Agenda of Integrated Risk Management Committee Meeting

Date Agenda
• Integrated Capital Management Policy for Financial Conglomeration
• Integrated Risk Profile H2 2020
• Integrated Risk Management Policy (IRMP) of MUFG Group Financial
Conglomeration
• Intra-Group Transaction Policy
• Integrated Risk Profile Guideline
• OJK Audit related to Liquidity
February 10, 2021
• IFRS9 Update
• Phishing Email Exercise (PEX) 2020 Summary Results Update
• Integrated Capital Adequacy
• Adira Finance Update
• MUFG Bank Jakarta Update
• U Finance Indonesia Update
• Data Request by OJK
• Integrated Risk Profile H1 2021
• Potential change of MUFG Financial Conglomeration Structure
• Annual Review of Integrated Risk Management Policy (IRMP)
August 13, 2021 • Integrated Capital Adequacy
• Adira Finance Update
• MUFG Bank Jakarta Update
• U Finance Indonesia Update
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Implementation of Duties of Integrated Risk

Management Committee in 2021 The implementation of Intra-Group Transaction Risk
Important activities carried out by the Integrated Risk Management is carried out through risk identification,
Management Committee during 2021 are: measurement, monitoring and control, and management
information system. Intra-Group Transaction Risk,
a. Approval of the Integrated Risk Profile among others, can be arisen from:
b. Update and Approval of the Integrated Capital • Cross ownership between entities within the
Management Policy for Financial Conglomeration Financial Conglomeration.
c. Subsidiary Update • Centralized management of short-term liquidity.
d. Sister Companies Update • The guarantee, loans, and commitments that are
e. Update on Integrated Risk Management Policy provided or obtained by an entity from another
f. Intra-Group Transaction Policy Update entity within the Financial Conglomeration.
g. Integrated Risk Profile Guideline Update • The exposure to the controlling shareholder,
h. Update of OJK Audit related to Liquidity including the loan and off-balance sheet such as the
i. Update related to Financial Conglomeration guarantee and commitment.
j. Update on IFRS 9 • Asset purchases or sales to other entity within the
k. Update on Integrated Capital Adequacy Financial Conglomeration.
• Risk transfer through re-insurance.
INTRA-GROUP TRANSACTION POLICY • The transactions to transfer third party’s risk
Intra-group transaction risk is the risk due to the exposures between the entities within the Financial
dependence of an entity either directly or indirectly to Conglomeration.
other entities in a Financial Conglomeration in order to
fulfill a contractual obligation of written or unwritten
agreement which followed by either transfer the funds
or not.
The implementation of Intra-Group Transaction Risk

Management is carried out by taking into account
inter-entity transaction activities in the Financial
Conglomeration. Danamon as the Main Entity has
regulated the implementation of intra-group transaction
risk management in the Intra-Group Transaction Policy
which is regularly reviewed. Intra-group transaction limits
are determined through coordination between Danamon
as the Main Entity, Subsidiary and Sister Companies as
members of the Financial Conglomeration.
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INTEGRATED GOVERNANCE Integrated Governance Implementation Self Assessment
IMPLEMENTATION SELF
ASSESSMENT
Self-Assessment Results
Implementation of Integrated Governance
Position June and December 2021
Rating Rating Definition

The Financial Conglomerate is considered to have implemented Integrated Governance which is
generally good. This is reflected in adequate compliance with the implementation of Integrated
2 Governance principles. If there are weaknesses in the implementation of Integrated Governance, in
general these weaknesses are less significant and can be resolved by normal actions by the Main
Entity and/or FSI
Based on the self-assessment conducted, Danamon already has an adequate integrated governance structure and
infrastructure so that the principles of integrated governance can be implemented effectively. This is reflected in the
following indicators:
Indicator Self Assessment Summary
• Main Entity’s Board of Directors consists of 8 (eight) member. Members of the Main Entity’s
Board of Directors have met the requirements of integrity, competence, and financial
reputation. All members of the Board of Directors of the Main Entity have obtained approval
from OJK.
• Accepted the resignation of Michellina Laksmi Triwardhany from his position as Deputy
President Director of the Main Entity effective September 4, 2021 and Adnan Qayum Khan
from his position as Director of the Main Entity effective July 24, 2021 through the EGMS on
August 26, 2021.
• With the resignation of Adnan Qayum Khan as Integrated Risk Director at the Main Entity,
Main Entity Board
the Integrated Risk Unit will be under the Main Entity Compliance Director until a definitive
of Director
Integrated Risk Director is appointed. As of January 1, 2022, the Risk Management Unit in the
Main Entity is under Dadi Budiana.
• As the Main Entity, Bank Danamon places members of the Board of Directors as members
of the Board of Commissioners of the Subsidiary Company for the purpose of supervision.
Yasushi Itagaki (President Director of the Main Entity), where he serves as President
Commissioner of PT Adira Dinamika Multi Finance, Tbk.
• All audit findings and recommendations from SKAI, external auditors, results of OJK
supervision and/or results of supervision by other authorities are always followed up by the
Board of Directors of the Main Entity.
• Main Entity’s Board of Commissioners members have met the requirements for integrity,
competence, and financial reputation. All members of the Main Entity’s Board of
Commissioners have obtained approval from OJK.
• Main Entity’s Board of Commissioner consists of 8 (eight) member and the number of
Main Entity Board
members of the Main Entity’s Board of Commissioners does not exceed the number of
of Commissioner
members of the Main Entity’s Board of Directors.
• Throughout 2021, the Main Entity Board of Commissioners has held 6 (six) meetings of the
Main Entity Board of Commissioners and 6 (six) Joint Meetings with the Main Entity Board
of Directors.
• There are 9 (nine) members of the Integrated Governance Committee, consisting of 5 (five)
representatives from the Main Entity, 1 (one) person from the Subsidiary Company, and 3
(three) representatives from Related Companies.
Integrated • The Integrated Governance Committee is chaired by an Independent Commissioner who is
Governance also the chairman of the Danamon Governance Committee.
Committee • The results of the self-assessment of the implementation of integrated governance which
includes the internal control function and the implementation of the compliance function in
an integrated manner are evaluated by the Integrated Governance Committee on a regular
basis in the Integrated Governance Committee meeting.
447
Integrated Governance Implementation Self Assessment
Indicator Self Assessment Summary
• The Danamon Compliance Unit performs its function as an Integrated Compliance Unit (ICU).
• Since January 2021, the Danamon Compliance Unit is divided into 2 (two) divisions, namely
the Regulatory Compliance & Advisory Division and the Regulatory Compliance & Assurance
Division. The implementation of the functions of the Integrated Compliance Unit is carried
Integrated
out by the two divisions which were formed independently and have direct access to the
Compliance Unit
Director in charge of the Compliance Function (Director of Compliance).
• The Integrated Compliance Unit is independent from other operational work units and is
not in a position to face a conflict of interest in carrying out its duties and responsibilities.
• The Danamon Compliance Unit is supported by employees who have adequate qualifications.
• The implementation of the function of the Integrated Internal Audit Unit (IIAU) is carried out
by the Danamon Internal Audit Unit (IAU).
• Membership of the Integrated Internal Audit Unit (IIAU) includes SKAI Danamon as the Main
Entity SKAI with members consisting of SKAI Adira Finance (“Subsidiaries”) and SKAI MUFG
Jakarta (“Related Entities”).
• IIAU is independent of other operational work units.
Integrated Audit • IIAU is led by the Head of IIAU who reports directly to the President Director. To support the
Unit independence of IIAU and ensure the smooth running of the audit as well as the authority to
monitor follow-up actions, the Head of IIAU also submits reports to the President Director,
Board of Commissioners, Audit Committee, and Compliance Director.
• IIAU has monitored the implementation of internal audits on the SKAI members of the
MUFG Group Financial Conglomerate through regular meetings and reports submitted by the
internal audit units of each member of the MUFG Group Financial Conglomerate, as well as
conducting Quality Assurance Reviews on audit activities at the Subsidiary SKAI.
• Bank Danamon as the Main Entity in the financial conglomerate has an organizational
structure that supports the implementation of adequate integrated risk management. IIAU,
Integrated Risk Management Unit, Integrated Compliance Unit, Risk Management Committee,
Risk Oversight Committee, and Integrated Risk Management Committee have been formed
and function according to their respective duties and responsibilities. Bank Danamon as the
Main Entity has regularly updated the organizational structure.
• Bank Danamon already has an Integrated Risk Management Policy for the MUFG Group
Financial Conglomerate which regulates the framework and implementation of integrated
risk management for the Financial Conglomerate. This policy is also complemented by its
derivative policies which are made separately including Credit Risk Policy, Operational Risk
Management Policy, Market and Liquidity Risk Policy, Information Security Policy, Technology
Risk Management Policy, Business Continuity Management Policy, Intra-Group Transaction
Policy and Policy Risk Appetite Statement (RAS). Bank Danamon has implemented Group
RAS and has RAS Cascading to be implemented in Banks and Subsidiaries (PT Adira Dinamika
Implementation
Multi Finance Tbk – ADMF).
of Integrated Risk
• In the integrated governance process, the implementation of Integrated Risk Management
Management
involves active supervision and supervision from the Board of Directors and Board of
Commissioners of Bank Danamon as the Main Entity. The authorities and responsibilities
of the Board of Commissioners and Board of Directors of Bank Danamon as the Main Entity
regarding the implementation of Integrated Risk Management have been clearly regulated in
the Integrated Risk Management Policy of the MUFG Group Financial Conglomerate.
• The internal control system in the implementation of integrated risk management in the
Main Entity and FSI in the Financial Conglomerate is comprehensive and adequate, among
others through the determination of authority, monitoring of policies, procedures and limits,
a clear organizational structure, implementation of risk awareness and culture as well as the
adequacy of procedures for compliance compliance with regulations.
• The effectiveness of risk management implementation, including the adequacy of policies,
procedures and management information systems is reviewed and reviewed regularly.
An internal audit of the integrated risk management process is also carried out and
improvements to audit findings will be monitored.
• Bank Danamon as the Main Entity already has Integrated Governance Guidelines which is an
Integrated Governance Framework for the Main Entity as well as an Integrated Governance
Framework for other Financial Services Institutions (FSI) within the MUFG Group Financial
Conglomerate.
Integrated
• In Semester I 2021, the Integrated Governance Guidelines have been updated and can be
Governance
accessed through the Bank’s Corporate Website. Bank Danamon as the Main Entity in the
Guidelines
MUFG Group Financial Conglomerate has also conveyed information on the update of the
Policy to other FSIs within the MUFG Group Financial Conglomerate.
• Each Entity in the MUFG Group Financial Conglomerate has implemented the principles of
governance in accordance with the Integrated Governance Policy.
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SHARIA BUSINESS Sharia Business Unit (uus) Governance
UNIT (UUS)
GOVERNANCE
449
SHARIA BUSINESS UNIT (UUS)

Sharia Business Unit (uus) Governance
GOVERNANCE
INTRODUCTION products and services.
b. Appointed as LKS-PWU (Cash Waqf Recipient) by
The implementation of Corporate Governance in Bank the Ministry of Religious Affairs in 2020-2021. UUS
Danamon’s Sharia Business Unit (UUS Danamon) is Danamon also maintained the mandate of the
based on 5 (five) basic principles of Good Corporate National Hajj Fund Management Agency (BPKH)
Governance (GCG), namely: to manage Hajj funds with functions as recipient
1. Transparency: Transparency in presenting material bank, investment partner bank, fund deposit bank
and relevant information, and transparency in the and fund management bank. With these licenses,
decision-making process. UUS Danamon can accept cash waqf and serve
2. Accountability: Clarity of functions and accountability prospective pilgrims from opening an account to
of the Bank’s organs for effective management of registering for Hajj.
the Bank. c. Launched the On-Boarding Sharia Digital as an
3. Responsibility: Compliance with the prevailing laws important milestone for our digital platform and the
and regulations and the principles of sound bank Digital Cash Waqf through Social Banking.
management. d. In terms of financing, we continued to develop our
4. Professionalism: Having the competence, ability to unique financing product, Sharia Leasing, which
act objectively and free from influence or pressure provides more benefits to customers, especially
from any party and a strong commitment to the commercial segment and corporate segment
development of the sharia banking business. customers.
5. Fairness: Justice and equality in fulfilling the rights e. In line with innovative product development,
of stakeholders in accordance with agreements and we were intensively promoting UUS Danamon’s
prevailing laws and regulations. flagship products throughout Bank Danamon’s new
distribution network.
The implementation of GCG principles is the f. Continued to improve the productivity of our people
commitment of all the Company’s organs to support by increasing knowledge and capabilities, especially
the improvement of the Company’s performance and in product promotion and sharia banking.
protect the interests of stakeholders while continuously g. Continued to improve risk management and good
upholding sharia principles (sharia compliance) in corporate governance. We have upgraded and
carrying out sharia business activities. refined our infrastructure and technology to be more
integrated, resulting in improved customer service
The Company’s consistency in implementing GCG is from minimizing and integrating several processes
reflected in compliance with laws and regulations, risk in the parent bank’s system.
management implementation, improved internal control h. Converted 4 conventional branches into sharia
in all work units and optimization of UUS Danamon’s branches in NAD province, following the enactment
performance. of the Aceh Qonun regulation.
UUS DANAMON INITIATIVES We have conducted several programs to promote

In 2021, UUS Danamon utilized leveraging strategy by Islamic financial literacy to consumers and the public.
optimizing the use of our parent bank’s infrastructure and The following programs have been organized by UUS
office network, enabling the sale of all UUS Danamon’s Danamon to support Islamic financial literacy during
products throughout the parent’s bank Branch Network. the 2021 period as many as 21 programs. Details of the
Some of the important steps taken in 2021 are as follow: schedule and program can be seen in Appendix 1.
a. Providing financial solutions for customers through
a comprehensive range of unique sharia-based
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1. SHARIA SUPERVISORY BOARD (DPS)

1.1 Composition of DPS
In 2021, UUS Danamon’s DPS consisted of 3 (three) persons:
a. Prof. Dr. H .M. Din Syamsuddin, MA. (Chairman)
b. Dr. K.H. Hasanudin, M.Ag. (Member)
c. Dr. Asep Supyadillah, M.Ag. (Member) concurrent positions as stipulated in Bank Indonesia
regulation No. 11/10/PBI/2009 concerning Sharia
1.2 Concurrent Positions of DPS Members in Other Business Units. Details of concurrent positions of
Sharia Financial Institutions UUS Danamon’s DPS members are as follow:
All DPS members have met the requirements to hold
Position
Name in Other Name of Company
Companies
Prof. Dr. H. M. Din Syamsuddin, MA. (Chairman) - -
DPS Chairman a) Toyota Astra Finance Services Syariah
DPS Chairman b) PT. Sarana Multigriya Finansial (UUS)
Dr. K.H. Hasanudin, M.Ag. (Member)
DPS Chairman c) Bank Syariah Indonesia (BSI)
DPS Chairman d) PT Trimegah Asset Management
a) PT Capital Life Syariah
DPS Chairman
b) PT Asuransi Jiwa Generali Indonesia (UUS)
Dr. Asep Supyadillah, M.Ag. (Member) DPS Chairman
c) PT. Fintek Karya Nusantara (Link Aja Syariah)
DPS Member
1.3 DPS Work Programs for 2021 follow:

UUS Danamon’s DPS work programs for 2021 are as
a. Conducting at least 12 (twelve) DPS meetings during the year to discuss issues concerning sharia principles,
new product proposals and requests for opinions regarding several conditions that occur in the field.
b. Conducting periodic reviews, including supervision on the fulfillment of sharia principles on the mechanism
for funding and financing activities as well as UUS services through customer sampling, drawing samples
from both funding and financing customers.
c. Establishing good coordination with Syariah & CREM Assurance – UUS Danamon in carrying out all UUS
Danamon’s DPS activities (such as requests for DPS Opinions), examining and requesting explanations from
authorized UUS Danamon officials regarding matters deemed necessary.
d. Preparing semiannual DPS Supervisory Reports to be submitted to OJK with copies to DSN-MUI, the Board of
Commissioners, the Director of UUS Danamon, Internal Audit Unit and Compliance Division.
e. Increasing information/knowledge about sharia and banking by continuously optimizing DPS members’
potentials through training and workshops for the development and progress of UUS Danamon.
f. Providing advice and recommendations for the Director of UUS Danamon in particular and Bank Danamon’s
management in general in order to improve, fulfill sharia principles and develop and grow UUS Danamon.
1.4 Realization of DPS Work Programs in 2021
a. There were 16 (sixteen) monthly regular DPS meetings held during the year. Details of time, place, meeting
agenda and attendance can be seen in Appendix 2. DPS Members’ attendance rate is as follows:
Name Total Attendance
Prof. Dr. H. M. Din Syamsuddin, MA. 15
Dr. K.H. Hasanudin, M.Ag. 15
Dr. Asep Supyadillah, M.Ag. 16
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The DPS meetings convened in 2021 have complied with Bank Indonesia and OJK regulations. Decisions
at DPS meetings were made based on deliberation to reach a consensus. Meeting resolutions have been
recorded in the Meeting Minutes, fully documented and submitted to the Director and or the Bank’s
management to be implemented.
b. In order to periodically evaluate the fulfillment of sharia principles in 2021, data from 171 customers were
taken, from which DPS conducted sampling on 104 customers, both funding and financing customers. The
criteria of the customers are as follow:
Customer Data Presented Customer Data Sampling

129 Funding Customers; 71 Funding Customers;
Funding Customers; Financing Customers
5 Employee Cooperative Customers; 5 Employee Cooperative Customers;
11 SME Customers; 10 SME Customers;
0 BPRS Customers; 0 BPRS Customers;
7 Enterprise Banking (EB) Customers; 7 Enterprise Banking (EB) Customers;
19 Consumer Customers. 11 Consumer Customers.
c. In 2021, DPS coordinated with Syariah & CREM Assurance – UUS Danamon to support its function as DPS,
including issuing the following 29 (twenty-nine) DPS Opinions:
Nr. ISSUE/TOPIC
1 Sharia Opinion on 2020 Benevolence Funds SOP
2 Sharia Opinion on the Implementation of Cash Waqf by Non-Muslim Waqifs
3 Sharia Opinion on Hajj Community Marketing Program - Wadiah RTJH Savings Product
4 Sharia Opinion on Bancassurance Activity Program Product Addendum
Sharia Opinion on the Use of Conventional (Existing) Current Accounts for Sharia Financing
5
Facilities: Disbursement & Debiting Profit Sharing
6 Sharia Opinion on Waqf Challenge Activity
7 Sharia Opinion on Sharia Unit Link Insurance Product MiSmart Solution Syariah (Mission Syariah)
8 Sharia Opinion on Aligning Conventional Current Accounts with Sharia Current Accounts
9 Sharia Opinion on Aligning Sharia Planned Savings iB (TPS iB)
Sharia Opinion on the Implementation of Sharia Planned Savings Account Opening & Routine
10
Social Fund Transfer Registration via Third Parties
11 Sharia Opinion on MRPA (Master Risk Participation Agreement)
Sharia Opinion on IMBT Scheme for Toll Road Financing (case study: Indonesia Investment
12
Authority (INA))
13 Sharia Opinion on Qurban with Waqf Benefit Partnership Program with Yayasan Daarut Tauhiid
14 Sharia Opinion on the 2021 Community Program and the 2021 Online Debit Program
15 Sharia Opinion on Home Construction or Renovation Financing with MMQ Scheme
16 Sharia Opinion on Mushaf Al Quran Waqf Program on the Social Banking Platform
Sharia Opinion on Savings with Cashback Benefit Program Tied to Sukuk SR015 Purchase and
17
Using Sharia Accounts for Conventional Investment Products
452
Nr. ISSUE/TOPIC
18 Sharia Opinion on Da’wah Vehicle & Water Well Waqf Program on the Social Banking Platform
19 Sharia Opinion on Seasonal Program for PT Pelabuhan Samudra Palaran (PSP)
20 Sharia Opinion on BPR/BPRS Prize Program
21 Sharia Opinion on Sale of Sharia Mutual Fund Products
22 Sharia Opinion on Sharia Debtor Auction
Sharia Opinion regarding Information on Development of Sharia Account Opening Using Digital
23
Services for Existing Customers (ETB)
24 Sharia Opinion on Sharia Money Order Trade Supplier Financing (TSF) [OJK’s Format]
Sharia Opinion on TPS Account Opening & Routine Fund Transfer Registration via Third Parties
25
[OJK’s Format]
26 Sharia Opinion on Water Well Waqf Program to UUS Danamon’s partner Nazirs
27 Sharia Opinion on Mushaf Al-Quran Waqf Program to UUS Danamon’s partner Nazirs
Sharia Opinion on Sharia Hajj Planned Savings Tabungan Rencana Haji iB (TRH) and Sharia
28
Planned Savings (TPS) Loyalty Programs for 2021
29 Sharia Opinion on Rooftop Solar Panel (PLTS Atap) Financing [OJK’s Format]
d. Report the results of DPS supervision every 6 (six) months to OJK with copies to DSN-MUI, the Board of
Commissioners, the Director of UUS Danamon, Internal Audit Work Unit and Compliance Division of Bank
Danamon.
e. In 2021, UUS Danamon’s DPS members attended the following training/workshop to develop/optimize
their potential as DPS members:
Nr. TRAINING/WORKSHOP
2021 Pra Ijtima’ Sanawi (Annual Meeting) of Sharia Supervisory Board (DPS), Islamic Banking
1
Sector, held on 4-5 October 2021 via Zoom Cloud Meetings.
2021 Ijtima’ Sanawi (Annual Meeting) of Sharia Supervisory Board (DPS), held on 2-3 December
2
2021 via Zoom Cloud Meetings.
f. Provided advice and recommendations to the resources and regular meetings with
Director of UUS Danamon at regular monthly UUS Danamon’s management during the
DPS meetings or on certain occasions in supervision period.
order to improve, fulfill sharia principles and • Report on the implementation of follow-up
develop and grow UUS Danamon. on compliance of the Bank’s products and
services with DSN-MUI fatwa.
1.5 DPS Supervision • Working paper of DPS supervision on the
The results of DPS supervision are reported to Bank’s activities & product development.
OJK through the DPS Supervisory Report (LHP) • Information regarding DPS opinions that
with copies of the report sent to the Compliance were issued during the supervision period.
Division, Internal Audit Unit, the Board of Directors &
Commissioners of PT Bank Danamon Indonesia, Tbk In addition to supervision, DPS also provided
and the National Sharia Council – Indonesian Ulema recommendations and advice to both the Board
Council (DSN-MUI). The DPS issued 2 (two) reports of Directors of PT Bank Danamon Indonesia, Tbk
for FY2021: the 2021 Mid-Year LHP and 2021 End-of- and UUS Danamon’s management in the form of
Year LHP. The LHP consists of: DPS opinions issued according to management’s
• Financial report, information regarding needs.
branch or office network, products, human
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1.6 DPS Charter

The DPS Charter is reviewed periodically. UUS Danamon continuously aligns the Charter with the prevailing rules
and regulations and their updates.
1.7 DPS Remuneration

Remuneration and other facilities for UUS Danamon’s DPS members are proposed by Bank Danamon’s
Remuneration Committee and approved by Bank Danamon’s General Meeting of Shareholders. Total remuneration
and other facilities for DPS members in 2021 is as follow:
Amount Received in 1 Year (gross)

Amount of Remuneration and Other Facilities
Persons Rupiah
1. Remuneration 3 1,008,004,074
Health insurance
2. Other facilities 3
(includes dependents)
Amount of Remuneration per person in 1 year Number of DPS
Above 2 billion Rupiah -
Between 1 billion and 2 billion Rupiah -
Above 500 million rupiah up to 1 billion Rupiah -
Below Rp 500 million 3
2. DIRECTOR OF UUS
The Director of UUS Danamon has done the following c. Ensuring UUS Danamon’s soundness level was
in the implementation of GCG: in accordance with OJK regulation.
a. Coordinating with all organization levels of UUS d. Coordinating with BI and OJK.
Danamon to carry out recommendations or e. Becoming a member of the Risk Management
input from DPS originating from routine meeting Committee.
results and the DPS Supervisory Reports.
b. Coordinating with all directorate levels of Bank 3. LIST OF CONSULTANTS AND LEGAL ADVISORS
Danamon for the development and expansion of In 2021, UUS Danamon did not use Consultant and
UUS Danamon business, including operational Legal Advisor services.
coordination and marketing of sharia products
through Sharia Service at Bank Danamon’s 4. INTERNAL FRAUD
branch offices. In 2021, there were no internal fraud cases at UUS
Danamon.
Number of cases perpetrated by

Internal Fraud in one year BoC/BoD Permanent Employee Contract Employee
2020 2021 2020 2021 2020 2021
Total fraud Nil Nil Nil Nil Nil Nil
Resolved Nil Nil Nil Nil Nil Nil
In process to be resolved
Nil Nil Nil Nil Nil Nil
internally
Pending follow-up Nil Nil Nil Nil Nil Nil
Escalated to legal action Nil Nil Nil Nil Nil Nil
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5. LEGAL ISSUES
The following is the status of legal issues at UUS Danamon in 2021:
Total case
Legal case
Civil Criminal
Resolved (the case has a legally binding judgement) Nil Nil
In progress Nil Nil
Total Nil Nil
6. UUS DANAMON ACTIVITIES 1. The 2021 Bank Service Excellence Monitor

UUS Danamon carried out 2 (two) activities: the (BSEM) Survey Award in Infobank Magazine May
distribution of benevolence funds for social purposes 2021 issue:
and UUS Danamon’s achievements in Indonesian • 3rd place in the “Overall Walk-In Channel”
banking, with details as follow: category
• 3rd place in the “Teller” category
6.1 Distribution of Benevolence Funds for Social • 3rd place in the “Customer Service” category
Purposes • 5th place in the “Security Guard” category
Referring to Law No. 21 of 2008 concerning Sharia • 5th place in the “Most Comfortable Branch”
(Islamic) Banking Chapter II Principle, Objective category
and Function, Islamic banks also carry out social
functions as stated in article 4 paragraph 2: “The 2. The 2021 Infobank Digital Brand Award:
Sharia (Islamic) Bank and UUS may conduct out • 1st place in the “Sharia Business Unit with
social functions in the form of baitul mal institution, Total Assets < Rp500 Trillion” category
receiving fund from zakat, infaq, sadaqah, grant, • 3rd place for “Best Service Excellence -
or other social funds and distribute it to a zakat Sharia Business Unit” category based on
managing organization.” It is in line with DSN-MUI 2021 BSEM survey
Fatwa No. 123/DSN-MUI/XI/2018 concerning the Use
of Non-Halal Income for Sharia Financial Institutions, 7. NON-HALAL INCOME AND USE
Sharia Business Institutions and Sharia Economic UUS Danamon did not have any non-halal income
Institutions. In carrying our social functions, UUS in 2021.
Danamon made 63 donations that were distributed
to institutions, foundations, mosques/musallas and 8. 2021 GCG SELF-ASSESSMENT RESULTS of
eligible individuals, totaling Rp680,613,507. Details of UUS DANAMON
these activities can be seen in Appendix 3. Based on the working paper for self-assessment
of GCG implementation at UUS Danamon in 2021,
6.2 UUS Danamon Achievements below are summaries of the calculation for the 2021
UUS Danamon received the following recognition in composite score and the 2021 GCG self-assessment
2021: results.
Summary Table of Composite Score Calculation for FY2021

Nr. Factor Rating (a) Weight (b) Score (a) x (b)
Implementation of duties and responsibilities of the
1 2 35.0% 0.70
Director of UUS
2 Implementation of duties and responsibilities of the DPS 2 20.0% 0.40
Implementation of sharia principles in funding and
3 2 10.0% 0.20
financing activities and providing services
Distribution of funds to core financing customers and
4 2 10.0% 0.20
deposit of funds by core depositors
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Nr. Factor Rating (a) Weight (b) Score (a) x (b)

Transparency of financial and non-financial conditions,
5 1 25.0% 0.25
GCG implementation report and internal reporting
Composite Score 100% 1.75
Grade: Very Good/Good/Satisfactory/Unsatisfactory/Poor
Summary of UUS Danamon GCG Self Assessment Results for FY2021

Rating Weight Score (a)
Nr. Factor Grade
(a) (b) x (b)
Implementation of duties and responsibilities of the
Director of UUS
The Director of UUS Danamon passed Bank Indonesia’s
(BI) fit & proper test, was independent, had no conflict of
1 2 35% 0.70 Good
interest & his appointment was reported to BI.
The Director of UUS Danamon was responsible for managing
UUS Danamon, following up on DPS recommendations &
providing data for DPS supervision.
Implementation of duties and responsibilities of the DPS
• The DPS consisted of 3 persons, all had adequate
integrity, competence and financial reputation and
were appointed through the GMS based on the
recommendation of the Nomination Committee and
DSN-MUI with a term not exceeding the Board of
Directors/Board of Commissioners. Concurrent positions
of the DPS members have complied with Bank Indonesia
provisions.
• DPS assessed and ensured products and operational
guidelines of UUS Danamon have complied with
sharia principles and submitted supervisory reports in
accordance with Bank Indonesia provisions.
2 2 20% 0.40 Good
• DPS held 16 (sixteen) meetings in 2021. Meetings
decisions were based on deliberation to reach a
consensus, well-documented and presented as
recommendations to be followed up by UUS Danamon’s
management.
• Concurrent positions as DPS members in other sharia
financial institutions as well as remuneration/other
facilities for the DPS have been reported in the GCG
Implementation Report. Members of the DPS did not
hold concurrent positions as consultants in any Sharia
(Islamic) Commercial Banks (BUS)/UUS Danamon. In
accordance with the DPS Charter, DPS members did not
take advantage of UUS Danamon for personal gain.
Implementation of sharia principles in funding and financing
activities and providing services.
• Every product launched by UUS Danamon was reviewed
by the Sharia Assurance Unit of Bank Danamon’s
Compliance Division and asked for an opinion from the
3 DPS to ensure compliance with DSN – MUI Fatwa. 2 10% 0.20 Good
• UUS Danamon’s funding and financing activities and
products, as well as services, have complied with
DSN–MUI Fatwa and OJK/BI provisions, including by
conducting periodic reviews of product policies &
internal audits.
456
Rating Weight Score (a)

Nr. Factor Grade
(a) (b) x (b)
Distribution of funds to core financing customers and
deposit of funds by core depositors.
• UUS Danamon has applied the prudential principle
in distributing funds, especially to Core Customers,
2
following OJK/BI provisions.
• UUS Danamon did not provide special treatment for Core
Good
Financing Customers and Core Depositors. Treatment
of core customers followed the general policies of UUS
4 10% 0.20
Danamon.
• UUS Danamon funding/financing program products have
been reviewed periodically in accordance with the Bank
regulations.
• Detailed lists of Core Financing Customers and Core
Depositors have been submitted to the Financial
Services Authority in accordance with applicable
regulations.
Transparency of financial and non-financial conditions, GCG
implementation reports and internal reporting.
• UUS Danamon has prepared Quarterly Published
Financial Statements and announced them in national
newspapers and on the website in accordance with OJK/
BI provisions.
• UUS Danamon has outlined the targets, strategies and
policies for developing UUS Danamon in the Bank’s
Business Plan (RBB) and has disclosed information on
the development of UUS Danamon’s business in the Very
5 1 25% 0.25
Bank’s RBB Realization Report and Annual Report. Good
• UUS Danamon has conducted GCG Self-Assessment,
prepared a GCG Implementation Report in accordance
with OJK/BI regulations.
• UUS Danamon had good internal reporting and was
able to present data/information from the core system
and the supporting system. The reporting system was
supported by trained and experienced human resources
and an adequate IT security system according to Bank
Danamon’s IT Security procedures.
Composite Score 100% 1.75 Good
Grade: Very Good/Good/Satisfactory/Unsatisfactory/Poor
GENERAL CONCLUSIONS network while continuously upholding the prudential

Based on the results of the GCG self-assessment for principle and increasing our people’s knowledge on
FY2021, UUS Danamon received a “Good” grade with a sharia principles.
composite score of 1.75. 3. Consistently applying the prudential principle and
independence based on sharia principles in our
The implementation of GCG at UUS Danamon in 2021 financing and funding activities.
has met the following GCG provisions: 4. Transparency of financial and non-financial
conditions, GCG implementation reports and
1. Consistently maintaining compliance with applicable internal reporting were conducted periodically
regulations and implementing sharia principles in and transparently in accordance with applicable
the sharia unit’s funding and financing activities and regulations.
services. 5. The Director of UUS Danamon has met the
2. Increasing third-party funds by optimizing Sharia required criteria, including having competency in
Branch office network function and Sharia services the field of sharia and being fully committed to the
(office channeling) through the main bank’s office development of UUS Danamon and following up
457
on recommendations from the DPS and routinely to achieve the targeted performance, thereby providing
providing data on the growth and condition of benefits for all stakeholders and protecting the interests
UUS Danamon every month through regular DPS of stakeholders.
meetings.
6. UUS Danamon’s DPS has carried out its duties and The abovementioned improvement efforts are carried
responsibilities, including having a good reputation out while continuously upholding GCG principles and the
and competence, conducting regular DPS meetings prudential principle as well as optimization of the DPS
and providing opinions, recommendations and performance in the implementation of sharia principles,
reviews of UUS Danamon products, as well as accompanied by more effective communication
preparing DPS Supervisory Report every semester. between the DPS and the Director of UUS Danamon and
improved compliance, risk management and internal
On a sustainable basis (sustainable growth), UUS audit functions.
Danamon will continue to make improvements
related to increasing human resources productivity,
accompanied by improved sharia banking knowledge Finally, the support of Bank Danamon with its robust
and skills, provision of a more effective information infrastructure, extensive service network and good brand
management system, improvement of work process awareness will boost UUS Danamon’s competitiveness
and procedure and optimization of the potential of the in the Sharia Banking industry while maintaining the
main bank’s office network (office channeling) in order consistent implementation of sharia banking principles.
Sharia Business Unit

Herry Hykmanto
Sharia Director
458
APPENDIX 1
Table of Details schedule and program of Islamic Financial Literacy 2021
Nr. Date Program

Product Launching of Cash Waqf & Social Banking “Youth Talkshow, Dare to
1 Virtual Zoom, March 5, 2021
Contribute & Blessing with Danamon Syariah
Virtual MS Teams, March 23, Webinar Vaccine Dissemination with the Ministry of Health and Sharia
2
2021 Kopkar
Danamon Syariah Ramadhan Fair together About Danamon Employee Cash
3 Virtual MS Teams, May 4, 2021
Waqf
4 Virtual Zoom, May 5, 2021 Halal Lifestyle Webinar with LAZ Al Azhar
Community Kopkar Event in the Month of Ramadhan 2021 Socialization of
5 Virtual Zoom, May 9, 2021
Sharia Cooperatives
Sharia Socialization Finance Webinar, Jakarta Anniversary “Indonesian
6 Virtual Zoom, June 29, 2021
Muslim Entrepreneurs Association
7 Virtual MS Teams, May 6, 2021 Community Kopkar Event in Ramadan 2021 regarding Cash Waqf
Cash Waqf is the Solution of Eternal Charity Together with Daarut Tauhiid’s
8 Virtual Zoom, May 9, 2021
Morning MQ Study
Sponsorship of the Jakarta Anniversary Webinar “Indonesian Muslim
9 Virtual Zoom, June 29, 2021
Entrepreneurs Association”
10 Virtual Zoom, July 13, 2021 MQTV Live Daarut Tauhiid “Ease of Sacrifice with Danamon Syariah
Danamon’s 65th Anniversary “Collaboration Festival - 650 Minutes of Action
11 Virtual MS Teams, 30 July 2021
and Collaboration Talkshow“
Indonesian Journalists Association’s Family Association Webinar on Islamic
12 Virtual Zoom, August 24, 2021
Financial Literacy
Virtual MS Teams, October 2, Workshop on Introduction to Cooperatives & Regulations for the
13
2021 establishment of USPPS/Sharia Cooperatives
Webinar Wake Up Waqf – It’s Time for Young People to Be Pioneers of
14 Virtual Zoom, October 12, 2021
Kindness with Dompet Dhuafa
Semarang Offline Event, Digitalization Support Cooperation Between Danamon Syariah and
15
October 15, 2021 PERBAMIDA
Virtual Expo , 18 October – 2
16 Financial EXPO Financial Inclusion Month (BIK) 2021 with OJK
November 2021
National Santri Day Webinar with Nahdlatul Ulama (NU) East Java Land and
17 Virtual Zoom, October 23, 2021
Waqf Institution with the theme “Movement of Money Waqf in Indonesia”
18 JCC, 27 & 28 October 2021 Indonesia Halal Showcase ISEF 2021 with BI
Virtual Zoom, 27 November IGI West Java National Webinar “Danamon Syariah with the Theme of
19
2021 Presentation of Sharia Financial Literacy”
Offline Event Surabaya, National Conference (Munas) PERBAMIDA Seminar All over Indonesia -
20
December 2, 2021 Support for Digitalization of Bank Danamon for BPR/BPRS & Markets
Virtual Zoom, Bandung, 18 Dec Support for the implementation of Islamic Financial Literacy at the Muswil
21
2021 of the Indonesian Teachers Association (IGI) West Java Province in 2021
459
APPENDIX 2
Table of Details of Time, Place and Agenda of DPS Meetings in 2021
Nr. Date & Location Agenda Attendees Unit

1 Thursday, 28 January 1. Update on the Financial 1. Prof. Dr. H. M Din Syamsuddin DPS
2021 Performance of UUS 2. Dr. K.H. Hasanudin, M.Ag. DPS
via MS Teams Danamon – FY2020 3. Dr. Asep Supyadillah, M.Ag. UUS
Financial Report 4. Herry Hykmanto UUS
2. Sharia Opinion Discussion 5. Refita Rulli Arief UUS
regarding Cash Waqf Nazir 6. Yatno Sukendar UUS
Partnership, Account 7. Isabella Aritonang UUS
Opening via Danamon’s 8. Budhi Hernandi UUS
Partner (Third Party) 9. Sutarto Anto UUS
Application, Hajj Savings 10. Anindito A. UUS
& Cash Waqf Marketing 11. Albi Ariza UUS
Program for 2021, DL 12. Sara Zathira UUS
Junior iB & Youth iB, 13. Fajar UUS
D-Save iB Wadiah 14. Dadan Setiawan UUS
15. Dedy Setiadi UUS
16. Niken Indah UUS
17. Merisa Ardini UUS
2 Thursday, 4 February Discussion on Kelola Mina 1. Prof. Dr. H. M Din Syamsuddin DPS
2021 Laut (KML) Productive Waqf 2. Dr. K.H. Hasanudin, M.Ag. DPS
via MS Teams Scheme 3. Dr. Asep Supyadillah, M.Ag. DPS
4. Yatno Sukendar UUS
5. Dadan Setiawan UUS
6. Dedy Setiadi UUS
7. Niken Indah Tri P UUS
9. Sutarto Anto UUS
10. Achmadijan Firdaus UUS
11. Dwi Rachmawaty UUS
12. Anindito UUS
3 Friday, 19 March 2021 Sharia Opinion Discussion Prof. Dr. H. M Din Syamsuddin DPS
via MS Teams regarding: Dr. K.H. Hasanudin, M.Ag. DPS
1. New initiative: Alignment Dr. Asep Supyadillah, M.Ag. DPS
of Sharia Planned Savings Yatno Sukendar UUS
Account Tabungan Dadan Setiawan UUS
Perencanaan Syariah (TPS Dedy Setiadi UUS
iB) Niken Indah Tri P UUS
2. New initiative: Alignment Siti Chodidjah UUS
of Enterprise Banking Merisa Ardini UUS
Products (Conventional Dwi Rachmawati UUS
Current Account and Anindito Al Muttaqien UUS
Sharia Current Account) Albi Ariza UUS
3. Definition of Ziswaf Sara Zathira Siregar UUS
4. Waqf Referral Program Moza Adidharma UUS
5. TRH/TPS Referral Program 15. Nurmalahayati Setyabudi UUS
6. Community Customer
Gimmick Program
7. Community High
Achievers Scholarship
Program
8. Young Family Hajj
Bundling Program
460

4 Thursday, 30 April Extension of Product 1. Prof. Dr. H. M Din Syamsuddin DPS
2021 Program (PP) for Sharia Rural 2. Dr. K.H. Hasanudin, M.Ag. DPS
via MS Teams Bank (BPRS) and Employee 3. Dr. Asep Supyadillah, M.Ag. DPS
Cooperative (Kopkar) 4. Yatno Sukendar UUS
5. Sutarto UUS
8. Dedy Setiadi UUS
10. Siti Chodidjah UUS
5 Friday, 21 May 2021 April 2021 Financial Report 1. Prof. Dr. H. M Din Syamsuddin DPS
via MS TEAMS Sharia Opinion Discussion 2. Dr. K.H. Hasanudin, M.Ag. DPS
regarding: 3. Dr. Asep Supyadillah, M.Ag. DPS
1. Tabungan Barokah 4. Dadan Setiawan UUS
Savings Account Scheme 5. Niken Indah Tri P UUS
2. Implementation of Sharia 6. Siti Chodidjah UUS
Planned Savings Account 7. Merisa Ardini UUS
Tabungan Perencanaan 8. Sutarto Anto UUS
Syariah (TPS) Account 9. Arief Budiman UUS
Opening Registration and 10. Muhammad Akbar Refo UUS
Routine Transfers via 11. Triadi Iwan UUS
Third Parties
6 Thursday, 17 June Provision of Core System for 1. Prof. Dr. H. M Din Syamsuddin DPS
2021 Sharia Employee Cooperative 2. Dr. K.H. Hasanudin, M.Ag. DPS
via MS TEAMS Toll Road Financing Scheme 3. Dr. Asep Supyadillah, M.Ag. DPS
between INA and Bank 4. Yatno Sukendar UUS
Danamon 5. Yusuf Pratama UUS
6. Dwibangga Guskarna UUS
7. Sari Utami UUS
8. Pinka Langlang Dewi UUS
13. Nia Febriyanti UUS
14. Sutarto Anto UUS
7 Monday, 28 June 2021 Master Risk Participant 1. Prof. Dr. H. M Din Syamsuddin DPS
via MS TEAMS Agreement (MRPA) 2. Dr. K.H. Hasanudin, M.Ag. DPS
3. Dr. Asep Supyadillah, M.Ag. DPS
5. Isabella Aritonang UUS
6. Christina Batubara Legal
7. Raditi Ariestarini Legal
8. Wita Jesiska Legal
9. Kasso Hamka UUS
461

8 Friday, 23 July 2021 Corporate Waqf Program and 1. Prof. Dr. H. M Din Syamsuddin DPS
via MS TEAMS Cash Waqf Payroll Auto Debit 2. Dr. K.H. Hasanudin, M.Ag. DPS
Program for Employees 3. Dr. Asep Supyadillah, M.Ag. DPS
5. Dedy Setiadi UUS
9. Sutarto Anto UUS
10. Albi Ariza UUS
11. Kezia Ivana DBT
12. Masnun Nadia DBT
9 Friday, 30 July 2021 Home Construction & 1. Prof. Dr. H. M Din Syamsuddin DPS
via MS TEAMS Renovation Financing with 2. Dr. K.H. Hasanudin, M.Ag. DPS
MMQ Scheme 3. Dr. Asep Supyadillah, M.Ag. DPS
5. Dedy Setiadi UUS
9. Sutarto Anto UUS
10. Nia Febrianty UUS
11. Retno Utaminingsih Compliance
12. Retnani Gumilang Compliance
10 Friday, 13 August 2021 Discussion on DPS Sampling 1. Dr. K.H. Hasanudin, M.Ag. DPS
via MS TEAMS Test for the First Semester 2. Dr. Asep Supyadillah, M.Ag. DPS
of 2021 3. Yatno Sukendar UUS
11 Thursday, 19 August 1. Financial Highlights - YTD 1. Prof. Dr. H. M Din Syamsuddin DPS
2021 June 2021 2. Dr. Asep Supyadillah, M.Ag. DPS
via MS TEAMS 2. Updates on Existing 3. Herry Hykmanto UUS
Issues in UUS, and Issues 4. Refita Rulli Arief UUS
related to UUS and Bank 5. Isabella Aritonang UUS
Danamon Activities 6. Yusuf Pratama UUS
7. Indrayana LS UUS
9. Dedy Setiadi UUS
11. Moza Adidharma UUS
13. Dannis Seniar Yullea UUS
12 Friday, 3 September 1. Savings with Cashback 1. Prof. Dr. H. M Din Syamsuddin DPS
2021 Benefit Program 2. Dr. K.H. Hasanudin, M.Ag. DPS
via MS TEAMS Tied to Sukuk SR015 3. Dr. Asep Supyadillah, M.Ag. DPS
Purchase and Using 4. Dwi Rachmawati UUS
Sharia Accounts for 5. Sara Zathira S UUS
Conventional Investment 6. Albi Ariza UUS
Products 7. Dadan Setiawan UUS
2. Da’wah Vehicle & Water 8. Merisa Ardini UUS
Well Waqf Program on the 9. Siti Chodidjah UUS
Social Banking Platform 10. Dedy Setiadi UUS
3. Seasonal Program for
PT Pelabuhan Samudra
Palaran (PSP)
4. BPR/BPRS Prize Program
462
04 Pembahasan dan
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13 Monday, 20 Sale of Receivables (Cessie) 1. Prof. Dr. H. M Din Syamsuddin DPS
September 2021 of Sharia Debtors 2. Dr. K.H. Hasanudin, M.Ag. DPS
via MS TEAMS 3. Dr. Asep Supyadillah, M.Ag. DPS
7. Reza Rusly Cr.Cons/SME
8. Dani Pustaka Remedial
9. Handojo Pamudji Remedial
10. Joseph Christian Risk
11. Indrayana LS UUS
12. Hari Wardhana Remedial
15. 15. Merisa Ardini UUS
14 Friday, 8 October Discussion of DPS Opinions: 1. Prof. Dr. H. M Din Syamsuddin DPS
2021 1. Deposit Profit Sharing 2. Dr. K.H. Hasanudin, M.Ag. DPS
via MS TEAMS 2. National Payment 3. Dr. Asep Supyadillah, M.Ag. DPS
Gateway (GPN) Card 4. Nurshanty Wijaya UUS
3. Information Services for 5. Dadan Setiawan UUS
Customers 6. Merisa Ardini UUS
4. 4. Follow-up to the Sharia 7. Dedy Setiadi UUS
Employee Cooperative 8. Niken Indah Tri P UUS
(Kopkarsyah) Workshop 9. Siti Chodidjah UUS
10. Albi Ariza UUS
15 Thursday, 25 Follow-up Discussion on Sale 1. Prof. Dr. H. M Din Syamsuddin DPS
November 2021 of Receivables (Cessie) of 2. Dr. K.H. Hasanudin, M.Ag. DPS
via MS TEAMS Sharia Debtors 3. Dr. Asep Supyadillah, M.Ag. DPS
8. Anton Priyono EarlyWarning
9. Hari Wardhana Remedial
10. Handojo Pamudji Remedial
11. Dani Pustaka Remedial
16 Friday, 17 December Solar Panel Financing 1. Prof. Dr. H. M Din Syamsuddin DPS
2021 via MS TEAMS Scheme 2. Dr. K.H. Hasanudin, M.Ag. DPS
3. Dr. Asep Supyadillah, M.Ag. DPS
5. Yusuf Pratama UUS
6. Sutarto Anto UUS
11. Mochammad Rosyid UUS
12. Note: DBT is the abbreviation for Danamon Banking Trainee
463
Appendix 3
Table of Distribution of UUS Danamon Benevolence Funds in 2021
Nr Date Fund Recipient Purpose Amount
1 22 January 2021 Musholla Al-Hidayah Construction of Musholla Al-Hidayah, Bogor 10,000,000

Basic Food Assistance for Natural Disaster Victims
2 22 January 2021 LAZ Al Azhar 20,000,000
via LAZ Al Azhar
3 28 January 2021 Masjid As-Salam Renovation of As-Salam Mosque, East Jakarta 19,500,000
January 2021 Donation to Procure Basic Food
Yayasan Dompet
4 11 February 2021 Packages for Flood and Landslide Disaster Victims 20,000,000
Dhuafa Republika
via Yayasan Dompet Dhuafa Republika
Donation for Teachers to Facilitate Teaching and
5 15 February 2021 UUS Danamon 3,000,000
Learning Process at Yayasan Daarut Tauhiid
Donation for Teachers to Facilitate Teaching and
6 15 February 2021 UUS Danamon 17,935,500
Learning Process at Yayasan Daarut Tauhiid
7 5 March 2021 UUS Danamon Donation for Orphans to Nazir Lembaga Nahdlatul Ulama 10,000,000
8 5 March 2021 UUS Danamon Donation for Orphans to Nazir Al Azhar 10,000,000
9 5 March 2021 UUS Danamon Donation for Orphans to Nazir Dompet Dhuafa 10,000,000
10 5 March 2021 UUS Danamon Donation for Orphans to Nazir Daarut Tauhiid 10,000,000
Donation to Procure Sound System (Worship
Masjid Nurul
11 10 March 2021 Infrastructure and Facilities) for Nurul Anwar 5,000,000
Anwar
Mosque, West Java
Worship Infrastructure and Facilities Assistance
12 10 March 2021 Masjid Al Awwabin 7,000,000
for Al Awwabin Mosque
13 15 March 2021 BDS Lhokseumawe Donation for Orphans to BDS Lhokseumawe 2,000,000
14 16 March 2021 Masjid Jami Al Bashor Donation to Renovate Al Bashor Jami Mosque 5,000,000
15 17 March 2021 BDS Bireun Donation for Orphans to BDS Bireun 2,000,000
16 17 March 2021 BDS Langsa Donation for Orphans to BDS Langsa 2,000,000
Masjid Ridha Donation to Renovate Ridha Muhammadiyah
17 17 March 2021 5,000,000
Muhammadiyah Mosque, Sulawesi
Donation to Provide Education on Islamic Boarding
Yayasan Halawatil School Digitalization for 200 Islamic Boarding
18 29 March 2021 5,000,000
Qur’an As-Syafi’i Schools in Banten Province, Yayasan Halawatil
Qur’an As-Syafi’i
MAN Insan Donation to Provide Basic Food to MAN Insan
19 29 March 2021 5,000,000
Cendekia Cendekia
20 30 March 2021 Musholla Al Husna Donation to Build Musholla Al Husna 5,000,000
Musholla Al Ikhlas
[Ministry of Religious Donation to Renovate Musholla Al Ikhlas [Ministry
21 7 April 2021 2,500,000
Affairs Klaten, of Religious Affairs Klaten Office, Central Java]
Central Java]
Management
of Indonesian
Donation for Orphans; Management of Indonesian
22 20 April 2021 Journalist 10,500,000
Journalist Association Headquarter
Association
Headquarter
23 21 April 2021 UUS Danamon Donation for Ramadan 1442 H Activities, UUS Danamon 20,000,000
24 21 April 2021 BDS Lapros Donation for Ramadan 1442 H Activities; BDS Lap Ros 7,500,000
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04 Pembahasan dan
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Hayoo Peduli Donation to Build Santri Dormitory; Hayoo Peduli

25 22 April 2021 5,000,000
Indonesia Indonesia
BDS Banda Aceh
26 26 April 2021 Donation for Orphans; BDS Banda Aceh Safiatudin 10,000,000
Safiatudin
Management of
Donation for Ramadan 1442 H Activities;
27 28 April 2021 Muhammadiyah 1,100,000
Management of Muhammadiyah Wage Branch
Wage Branch
Kopkar PT Yamaha
Donation for Orphans; Employee Cooperative of PT
28 28 April 2021 Musical Products 5,000,000
Yamaha Musical Products Indonesia
Indonesia
Donation for Ramadan 1442 H Activities; BDS
29 28 April 2021 BDS Ciracas 5,000,000
Ciracas
Yayasan
Daruttaqwa Berlan Donation for Ramadan 1442 H Activities at Harapan
30 6 May 2021 3,000,000
SDIT Harapan Ummat Integrated Islamic Primary School
Ummat
31 11 May 2021 BDS Lhokseumawe Donation for Orphans around BDS Lhokseumawe 2,000,000
Yayasan Pondok COVID-19 Pandemic Assistance in the Form of
32 27 May 2021 Pesantren Bahrul Antigen Swab Test Kit, Yayasan Pondok Pesantren 10,000,000
Ulum Tambakberas Bahrul Ulum Tambakberas
Yayasan Syauqi COVID-19 Pandemic Assistance in the Form of
33 27 May 2021 10,000,000
Semarang Antigen Swab Test Kit, Yayasan Syauqi Semarang
Dayah Modern
COVID-19 Pandemic Assistance in the Form of
Yayasan
34 27 May 2021 Antigen Swab Test Kit, Dayah Modern Yayasan 10,000,000
Pendidikan Arun
Pendidikan Arun (Damora)
(Damora)
Masjid Jami Nurul Donation to Renovate Nurul Huda Jami Mosque,
35 18 May 2021 4,000,000
Huda West Java
Donation of School Supplies for Orphans/
Ahmad Chairul Underprivileged Children for Odd and Even
36 24 June 2021 24,490,000
Syah Semesters of 2021/2022 School Year to Chairul
Syah’s Foster Children
Qurban Assistance for the Underprivileged, LAZ AL
37 14 July 2021 LAZ Al Azhar 19,278,000
Azhar
Pondok Pesantren Donation for Fire Disaster at Al Falah Islamic

38 28 July 2021 20,000,000
Al Falah Boarding School, South Kalimantan
Yayasan Pesantren COVID-19 Pandemic Assistance in the Form of

39 31 July 2021 Khusus Yatim Antigen Swab Test Kit for 100 santris, Yayasan 16,000,000
Assyafi’iyah Jakarta Pesantren Khusus Yatim Assyafi’iyah Jakarta
Basic Food Donation for People Infected
Kemenag Kota
40 12 August 2021 with COVID-19 to Ministry of Religious Affairs 1,000,000
Balikpapan
Balikpapan City Office
Rumah Qur’an Donation to Build Rumah Qur’an Muara Ukhuwah,
41 20 August 2021 20,000,000
Muara Ukhuwah Cipinang Muara, Jakarta
Yayasan Pesantren Donation to Procure Books/Stationery and Basic
42 8 October 2021 Khusus Yatim Necessities for Santris at Yayasan Pesantren 10,000,000
Assyafi’iyah Jakarta Khusus Yatim Assyafi’iyah Jakarta
Donation for the Construction of Madrasah Diniyah
YPI Darul Ulum Al
43 14 October 2021 Takmilliyah Awwaliyah buildings/classrooms at YPI 20,000,000
Jarkasih
Darul Ulum Al Jarkasih, Sukabumi, West Java
465
Ponpes Taqdirur Donation to Build Taqdirur Rahman Islamic

44 14 October 2021 10,000,000
Rahman Boarding School, Sukabumi, West Java
Universitas Negeri Donation for Social Activities at Yayasan Panti
45 18 October 2021 4,000,000
Jakarta (FE) Asuhan Al Mawardiyah, East Jakarta
SDN 12
COVID-19 Pandemic Assistance in the Form of
Rawamangun
46 11 November 2021 Antigen Swab Test Kit to Teachers of SDN 12 12,000,000
School Committee,
Rawamangun, Jakarta
Jakarta
47 12 November 2021 Masjid Jami Al Ikhlas Donation to Build Al Ikhlas Jami Mosque 10,000,000
48 12 November 2021 Masjid Al Ubudiyah Donation to Build the Canopy of Al Ubudiyah Mosque 14,310,000
Rumah Qur’an Donation for the Construction of Rumah Qur’an
49 12 November 2021 20,000,000
Muara Ukhuwah Muara Ukhuwah Building’s First Floor
Yayasan Dompet Donation to Provide Hospital Beds & Stretchers for Hasym
50 17 November 2021 20,000,000
Dhuafa Ashari Hospital, Jombang - Yayasan Dompet Dhuafa
Yayasan KHM Education Assistance for Santris at Tebuireng Islamic
51 18 November 2021 20,000,000
Hasyim Asy’ari Boarding School, Jombang - KHM Hasyim Asy’ari
Indonesian Teacher
Donation for Sharia Financial Literacy Program -
52 26 November 2021 Association, West 15,000,000
Indonesian Teacher Association, West Java
Java
Donation to Procure Table Tennis Table
Yayasan Daarut
53 1 December 2021 (Extracurricular Education Facilities) - Yayasan 8,000,000
Tauhiid Bandung
Daarut Tauhiid, Bandung
Donation to Procure Table Tennis Table
Yayasan Daarut
54 1 December 2021 (Extracurricular Education Facilities) - Yayasan 4,000,000
Tauhiid Bandung
Daarut Tauhiid, Bandung
Masjid Jami At Donation to Renovate At Taqwa Jami Mosque –
55 1 December 2021 17,500,000
Taqwa Larangan, Banten
56 7 December 2021 UUS Danamon Donation for Orphans to Al Azhar 3,000,000
57 7 December 2021 UUS Danamon Donation for Orphans to Ponpes Asy Syafiiyah 3,000,000
Masjid Al Ihsan Donation for Circumcision Event- Al Ihsan Mosque,
58 16 December 2021 5,000,000
Jakapermai Bekasi Jakapermai, Bekasi
Yayasan Nurul Fikri Donation for Fire Disaster at Nurul Fikri Islamic
59 16 December 2021 15,000,000
Makassar School, Makassar - Yayasan Nurul Fikri Makassar
Indonesian Teacher Donation for Sharia Financial Literacy Event
60 16 December 2021 Association, West at the Regional Meeting of Indonesian Teacher 10,000,000
Java Region Association of West Java Region
61 22 December 2021 LAZ Al Azhar Donation for Semeru Eruption Disaster - LAZ Al Azhar 15,000,000
Yayasan Dompet Donation for Semeru Eruption Disaster - Yayasan
62 22 December 2021 15,000,000
Dhuafa Republika Dompet Dhuafa Republika
Donation for Semeru Eruption Disaster from
63 23 December 2021 Asbisindo 50,000,007
Danamon Syariah - ASBISINDO
Total 680,613,507
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CORPORATE Corporate Data
DATA
467
Products and
Products And Services
Services
CONSUMER BANKING options of timeframes and Sharia principles - Sukuk) to
currencies. bondholders with a certain
Danamon LEBIH yield/coupon and tenor.
Danamon LEBIH believes that every Primadolar
effort, every penny, or every little Savings account with 8 options • Corporate Bond Products (in
thing matters. Therefore, Danamon of foreign currencies with many the Rupiah denomination):
LEBIH strives to value your money, benefits and conveniences, including
more than anyone else. Enjoy the free monthly administration Debt securities issued by
features of Danamon LEBIH savings: fee, competitive interest rate, corporates to bondholders in
• Free Administration Fee withdrawal of bank notes up to exchange for a certain amount
• Free Online Transfer Fees and USD5,000 per day and no nominal of interest (coupon) and tenor.
Free Cash Withdrawals limit for depositing USD bank notes
• Free Life Insurance of IDR 10 (especially for Primadollar USD). Foreign Currency
million for the first 6 months Currency exchange transaction
• Latest Transaction Features WEALTH MANAGEMENT services with exchange rates that
(Mobile banking, Internet have been agreed upon by both
banking, ATM, Hello Danamon Provide a diversified investment parties on the transaction date,
and others) products based on customer needs Foreign Currency Products are also
comprising of: supported by additional services:
FlexiMAX Direct Call (a service provided to
Premium savings with 9 special Mutual Funds selected Customers to conduct
benefits: Various Open Mutual Funds foreign exchange transactions
1. Free administration fee and Protected Mutual Funds directly with the Treasury team)
2. Free RTGS/SKN/Clearing denominated in the Rupiah and and Leave Order (a service for
transfer fees USD backed by 8 experienced and placing orders for foreign exchange
3. Free ATM cash withdrawal fees professional Investment Manager transactions at a agreed forex price
abroad (with Maestro network) business partners (PT Schroder level starting from market closing to
4. Attractive interest rate Investment Management Indonesia, market opening on the next day).
5. Free access to Executive Airport PT BNP Paribas Investment Partners,
Lounge for Danamon Privilege PT Manulife Asset Management Structured Products
Card holders Indonesia, PT Danareksa Investment Foreign currency investments
6. Free daily reports via fax (Hello Management, PT Batavia with an opportunity to earn higher
Danamon-IVR) Prosperindo Asset Management, returns than time deposit rates,
7. Free queues at special branches PT Bahana TCW Investment by leveraging the fluctuations in
for Danamon Privilege Card Management, PT Ashmore Asset financial markets and benefits of
holders Management Indonesia Tbk, and PT diversification as well as a relatively
8. Business Card with interesting Eastspring Investments Indonesia). short investment period. Structured
features Products currently offered by PT
9. Latest transaction features Bonds Bank Danamon Indonesia are
• Government Bond Products of Market Linked Deposit (MLD) and
CITA2KU Savings the Republic of Indonesia (in the Dual Currency Investment (DCI).
Term savings with attractive interest Rupiah & USD denomination):
rate. Fund placements start from INVESTMENTS & RETAIL
Rp500 thousand per month, with • Debt Securities or Government TREASURY SERVICES
term options of 1-15 years. Securities issued by the
Government of the Republic Investment Gallery
Time Deposit of Indonesia (either with Integrated Services with a wide
Fund placement products with conventional principles - selection of investment products,
attractive interest rates, various Government Bonds and with Open-end Mutual Fund, Indonesian
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Government Bonds in Rupiah & USD denominations and Danamon Visa Infinite Credit Card
Retail Government Bond and Sukuk of the Republic of A premium card designed to meet the modern lifestyle.
Indonesia with the support of experienced Investment Enjoy various attractive features such as faster collection
Managers with the best performance in the Industry of rewards points, namely getting 3 D-Points for every
(PT Schroder Investment Management Indonesia, PT Rp2,500 transaction that can be exchanged for various
BNP Paribas Investment Partners, PT Manulife Aset points exchange options, access to Airport Lounges in
Manajemen Indonesia, PT Danareksa Investment major cities in Indonesia, and various other attractive
Management, PT Batavia Prosperindo Aset Manajemen offers at various participating hotels and restaurants.
and PT Bahana TCW Investment Management).
Danamon World Elite™ Mastercard® Credit
Retail Treasury Services Card
Foreign exchange transaction services in various major A prestigious credit card that is exclusively dedicated
world currencies aimed at meeting the financial needs to the premium affluents who want to make every
of retail customers, backed by an extensive distribution experience of their life memorable. Enjoy the advantages
network and excellent service quality. of this product, such as faster reward point accumulation
than other credit cards, offering 12 D-Points (overseas)
DANAMON CARDS and 8 D-Points (domestic) for every Rp2500 transaction,
International Airport Lounge access with Priority Pass,
Credit Cards and Charge Cards that provide convenience golf access, travel insurance and purchase protection
in shopping and meeting your needs and lifestyle. that provides convenience for your trip and shopping.
Danamon Grab Credit Card Danamon American Express® Gold Credit

The Danamon Grab credit card is specifically intended Card and Charge Card
to provide financial solutions for young Indonesians to A prestigious membership card and a symbol of a
become smart spenders. For every Rp2,500 transaction successful life. Cardholders can enjoy convenience in
at Grab, customers get 5x D-Points which can be shopping without advance spending limit, a world-class
exchanged for various other rewards including Grab Membership Rewards® program and access to Airport
Vouchers. In addition, with this card, customers can Lounges in Indonesia. The card also features a range of
have the benefit of an installment program of up to 36 special offers for dining, staying, and shopping around
months and also auto upgrade Grab Rewards Platinum the world.
for the first 6 months after the card is approved and
enjoy priority Grab Car bookings. Danamon American Express Platinum Charge
Card
Danamon Visa Platinum Credit Card The Danamon American Express® Platinum Card
The Danamon Visa Platinum credit card provides is exclusively dedicated to selected individuals. The
competitive benefits for you and your family. This card Platinum Card® presents world-class privileges that are
offers excellent features of 10% cashback for every focused on 3 (three) main pillars, namely travel, lifestyle,
weekend transaction as well as various attractive and services, such as the Membership Rewards®
promos for you and your family. program that can be exchanged for rewards as the
Customer desires, Concierge Service, convenience in
Danamon Mastercard World Credit Card traveling with various offers from the best airlines and
One of the premium cards presented to meet the access to more than 800 Airport Lounges worldwide
modern lifestyle. Enjoy various attractive features such with Priority Pass, exclusive access to renowned golf
as faster collection of rewards points, namely getting courses in Indonesia, comprehensive travel insurance,
3 D-Points for every Rp2,500 transaction that can be to exclusive access to world-class prestigious events.
exchanged for various points exchange options, access
to Airport Lounges in major cities in Indonesia, and
various other attractive offers at various participating
hotels and restaurants.
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Danamon American a. Danamon KPR benefits or at the same time as a

Express® Gold Business Card Financing for the purchase substitute for family income. 50%
The Business Gold card that is of new or used houses/ premium refund if there is no claim
specifically intended for personal shophouses/office houses/ during the insurance period.
customers with the small to business houses/dormitories,
medium business segment who as well as building under ready Primajaga 100
need a card as a means of payment stock or indent conditions. Term life insurance product with
to support their business. This card Maximum loan of IDR 15 billion protection against the risk of death
product will offer payment flexibility and installment period of 1-20 and disability in the form of monthly
with the Early Pay Cashback feature years*. benefits or at the same time as a
(if the customer makes a full b. Apartment Ownership Credit substitute for family income. 100%
payment) or Defer Pay Options with (KPA) premium refund if there is no claim
tiered interest depending on the Financing for the purchase during the insurance period.
remaining payment (tiered interest of apartments/SOHO (Small
rate). Office Home Office)/Condotel/ Danamon+ Education
Kiosk/Strata Titled Town House/ Savings Account
Danamon American Strata Titled Shop House/ Education savings product with
Express® Corporate Card Condominium both new and insurance benefits of up to
A card that offers efficiency and used, as well as buildings in 200 times the monthly savings
savings solutions for medium and ready stock or indent conditions. deposit for the future of children’s
multinational companies to manage Maximum loan of IDR8 billion education.
their daily business expenses. and installment period of 1-15
years*. Proteksi Prima Rencana
c. House Renovation and Building Absolut
CONSUMER CREDIT PRODUCTS Credit (KPPR) A combination of a life insurance
Loans granted for the purpose product and an investment
Home Credit Ownership of building or renovating a product (unit link) with regular
The Danamon KPR product is a residential house, shophouse/ premium payments. This product
financing facility issued by PT Bank office/apartment. Maximum gives Policyholders the flexibility
Danamon Indonesia Tbk. with property loan of IDR15 billion and to determine the Sum Assured
as the collateral with a minimum installment period of 1-10 years*. (UP) and the schedule for Periodic
installment period of 1 (one) year and d. Ready-to-Build Lots (KSB) Premium Additions from the
a maximum of 20 (twenty) years. The Loans granted for the purpose beginning of the Policy. This product
interest rate for Danamon KPR product of purchasing a plot of land also provides an opportunity for
is fixed for a certain period, then where a residential house will policyholders to maximize their
floating in the next period (terms and be built on top of the plot. protection and matching it with
interest rates may differ according to KSB is only given for certain their needs and capacities.
the type of product and the purpose developers. Maximum loan of
of financing). IDR15 billion and installment Proteksi Prima Rencana
period of 1-7 years*. Optima
House Ownership Loan (KPR) *) subject to the policy of Bank A combination of endowment
The benefit of Danamon KPR is to Danamon. insurance and Unit Link. Proteksi
assist customers in financing the Prima Rencana Optima provides
purchase of houses, shop houses, BANCASSURANCE various investment benefits, such
apartments, house renovations, as Death Benefit, Total Permanent
house construction, villas, with Primajaga Disability Benefit, Loyalty Bonus and
property as collateral, through a Term life insurance product with Maturity Benefit, and protects the
wide selection of products and protection against the risk of death Insured up to 70 years old.
characteristics. and disability in the form of monthly
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Proteksi Prima Rencana Proteksi Prima Siaga Proteksi Prima Amanah

Maxima Insurance product that provides Sharia term life insurance that
Proteksi Prima Rencana Maxima is a death benefit, total permanent provides Death Benefit, Total
unit link life insurance product with disability protection, temporary Permanent Disability (TPD) Benefit,
regular premium that maximizes disability protection or maturity and Maturity Benefit with a
investment and provides life benefit (return of 50% premium at minimum amount of 100% of the
protection packages, such as the end of the 5th year). total premium (contribution) paid.
death benefit, income replacement
benefit due to death/total Proteksi Prima Rencana Proteksi Prima Harapan
permanent disability and premium Utama A critical illness product with two
waiver due to critical illness, loyalty Proteksi Prima Rencana Utama stages of critical illness benefits,
bonus and maturity benefit. is a Regular Premium Unit Link namely Early-Stage Critical Illness
product that offers comprehensive Benefit and Advanced Stage Critical
Proteksi Prima Maxiplus life protection that targets middle Illness Benefit.
Proteksi Prima Maxiplus is an to upper class customers who
insurance product intended for need optimal protection and is Pension Funds of Financial
individual customers who need unit complemented with an investment Institutions (DPLK) of
link insurance product with a single feature. Manulife Indonesia
premium that provides investment A defined contribution pension
benefits and life insurance Proteksi Prima Emas Plus plan designed to provide financial
protection up to the age of 95 years An endowment insurance product security for employees/participants
old. that provides guaranteed benefit by the time they reach retirement
payments for retirement and wealth age. This program can be joined
Proteksi Prima Medika transfer purposes starting from by employees, either as part of
Proteksi Prima Medika is an the age of establishment until the the company or as individuals.
insurance product that provides maturity age. Through this program, employees
Hospital Treatment Benefits with a who seek to maintain their lifestyle
return of premium at the end of the Proteksi Prima Masa Depan during retirement can achieve this
contract if there are no claims for 5 An endowment insurance product financial goal. The program can also
(five) consecutive policy years. for customers who have an help companies/business owners
established plan to protect their to succeed in their business, as
Proteksi Prima Dinamis families and children in the future. program can increase employee
Insurance product that provides This product provides long-term loyalty and productivity in the
protection to customers who have protection benefits for preparing workplace.
an accident. Customers can use Future Funds.
the benefits to care for physical Group Life and Health
disability due to an accident. Proteksi Prima Sejahtera Protection Program for companies
Term life insurance product with to provide a sense of security for
Proteksi Prima Sehat Global affordable premium which provides employees when unexpected risk
Health insurance product that optimal life protection for a certain occurs, for example towards life
offers comprehensive coverage period of time. and health which require outpatient
for medical expenses within and and inpatient care.
outside Indonesia (as charged). Proteksi Prima Perlindungan
Equipped with optional benefits Utama Manulife Karyawan
(namely Outpatient Benefit, Dental Regular Premium Unit Link product Sejahtera Plus
Benefit, and Maternity Benefit), this that provides optimal protection A group unit link product that
product is also marketed in the until the Insured is 110 years old, focuses on investment. This
Family Plan basis. equipped with a variety of additional program is designed to assist
insurance options. companies by providing accounts
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on behalf of employees, with the purpose of paying Property Insurance

severance allowance for the employees in the event Property Insurance for the commercial segment is the
of termination of employment, death, retirement, right choice for business owners who want to protect
and resignation. Under this program, employees are business premises from various risks. This insurance
the beneficiaries, while their companies act as the protects against the risk of losses that occur on the
policyholder. property of policyholders due to theft, flood, terrorism,
personal accident, fire, lightning strikes, explosions,
Proteku Maxi aircraft crashes, smoke, and other natural disasters.
Insurance product that protects companies from risks
such as theft, fire, and natural disasters. The insurance Equipped with a risk engineer facility, the customers
compensates for business losses in the event that any will receive recommendations on risk management,
of the risk occurs. especially for companies in the mining and manufacturing
industries. Risk mitigation becomes more robust and
Motor Vehicle Insurance more comprehensive.
This product protects the owners of motor vehicles
against losses or damage due to collision, single-vehicle Heavy Machinery Insurance
accident, fire, or theft. Such protection can be extended This insurance provides protection for your company’s
to include third party legal liability, personal accident, heavy equipment, such as tractors, bulldozers,
medical expenses arising from accidents, riots, terrorism excavators, crane excavators, and others, from loss or
and sabotage, floods, and earthquakes. damage due to collisions, fires, theft, accidents caused
by third parties.
Self-Accident Insurance
A product that provides protection in the event of Other Insurances
the insured’s death or permanent disability due to an To provide comprehensive protection for various
accident. company assets, including business operational
processes, the Company provides various commercial
Hospital Cash Plan 5 Diseases insurance products as needed. Products in this
Insurance product that provides inpatient treatment business line include Freight Insurance (for a series of
benefit of Rp500,000/day for a maximum of 10 days in cargo logistics processes), Engineering Insurance (for
1 year, or up to a total of Rp5,000,000 with premium machinery), Ship Framework Insurance, and Trade Credit
of Rp150,000/year. The protection applies if the insured Insurance (for the risk of default by consumers). This
suffers from dengue fever, typhoid, pneumonia, insurance’s product range is an appropriate complement
meningitis, and diphtheria. to good risk management practices in a company.
Health Insurance-Medicillin Autocillin

Offered as an employee’s benefit in the health insurance Autocillin has long been known as the Top Brand in
program provided by the employee’s company. the car insurance industry in Indonesia since it was
Medicillin assures the cost of outpatient health care, launched 18 years ago. The comprehensive protection
hospitalization, labor, surgery, and other medical that Autocillin offers for policyholder cars includes the
procedures. Policyholders can easily access important risk of collision, fire, theft, legal liability to third parties,
information and policy data from their respective riots, terrorism and sabotage, floods, earthquakes, as
Medicillin App from their devices. Medicillin partners well as accidents of policyholders and families (including
with a leading digital platform in Indonesia, Halodoc, to medical expenses).
provide convenience in accessing medical services –
from medical consultation with doctors to purchasing Motopro
therapeutics. The leading motorcycle insurance product in Indonesia,
Motopro protects motorcycles from the risk of loss
and total damage (more than 75%) due to accidents.
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Policyholders will also be protected if the accident Arthacillin

happened while riding, other than at home and work. The Bank provides protection for small and medium
businesses. Arthacillin provides compensation for
Travellin damage to the place of business, accidents affecting
Travellin is a travel insurance that provides basic policyholders, their partners, and employees, as well as
protection for policyholders from the risk of personal additional protection from third party responsibilities.
accident. Travellin offers cashless medical treatment for
its customer’s convenience, while providing guaranteed Various Insurances
protection against the risk of travel delay/cancellation, The Bank provides a variety of insurance products that
as well as the risk of losing baggage, travel documents, protect certain assets of the policyholders. The products
and luggage. in this line include Movable Property Insurance (for
electronic goods and gadgets with protection against
Typhoid Micro Insurance various risks of damage), Furniture Insurance, Micro
A micro health insurance product that specifically Mobilite, Pet Insurance, Micro Motolite (micro version
protects customers who contract typhoid with daily for motorcycle protection due to accident risk with
treatment benefit of Rp500,000 per day for up to 10 days affordable premiums), and Mudik Insurance (for the risk
of hospitalization. of accidents and loss of goods during homecoming).
Business Guard Insurance In 2020, the Bank launched a new product in the various
Business Guard Insurance aims to meet the protection insurances line, Bicycle Insurance from Adira Insurance.
needs of business owners for assets such as buildings This new product protects policyholders’ bicycles from
and their contents, and for business continuity. Amid damage and/or loss. The policy can also be extended
the current prolonged pandemic situation, this product to cover protection against personal accident, medical
provides certainty for businessowners in carrying out their and medical expenses, and third-party legal liability. The
activities. Properties including shops, accommodation, limit of coverage is up to IDR10 million.
health facilities, offices, restaurants, and educational
facilities can all be covered against various damages, Sharia Insurance
such as property damage and personal accidents Providing sharia-based protection to protect customer
involving the business owners and/or their employees. property.
The coverage limit is up to Rp20 billion.
Zurich Critical Illness

Zurich Critical Illness is an insurance program that
provides coverage for 36 critical illnesses, covering
benefits for hospitalization and surgery due to critical
illnesses. This product offers direct benefit of up to Rp50
million per diagnosed critical illness. This product is
valid for insured age from 17 to 60 years old (extendable
up to 65 years old).
Home Insurance
To protect buildings such as residences and businesses
from various risks, the Bank provides Home Insurance
property insurance. This insurance protects the
policyholder from the risk of loss theft, flood, terrorism,
personal accident, fire, lightning strikes, explosions,
aircraft crashes, smoke, and other natural disasters.
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DANAMON SHARIA designed specifically to enable customers realize their

Hajj pilgrimage.
Danamon LEBIH iB Savings
Danamon LEBIH iB believes that every effort, every BISA iB Giro
Rupiah, or every little thing matters. Therefore, Danamon A current account product based on Sharia principles in
LEBIH iB is a Sharia product that strives to value every the form of Mudharabah (profit sharing) contract which
Rupiah you earn. It’s time for you to be in control, enjoy offers customers transaction benefits such as access
every feature of Danamon LEBIH iB. to Internet Banking (DOB and DConnect), account
information service, and 24-hour customer service from
BISA QURBAN iB Savings Hello Danamon easing Customers in managing their
This savings plan product uses the Sharia profit-sharing cash flow.
principle (Mudharabah) in Rupiah currency which is
specially provided to realize your holy objective in FlexiMAX iB Savings
preparing Qurban worship funds. Funds will be debited Transactional Savings product using sharia principles for
every month through an auto debit process from the profit sharing (Mudharabah) in Rupiah currency which
source account to the BISA Qurban iB Savings account are intended for individual and institutional/corporate
with the deposit amount and time period of your choice. customers and provide attractive profit sharing based
on your placement balance with minimal costs including
BISA UMRAH iB Savings administration fees and transaction fees through ATMs.
Term savings using the sharia principle of Mudharabah
(Profit Sharing) which aims to assist customers in Wadiah Savings
planning Umrah worship funds. Customers regularly Savings product issued by PT Bank Danamon Indonesia,
deposit every month through automatic debit from the Tbk. (“Danamon”) owned by Individual customers.
source account to the BISA UMRAH iB (TBU) account. The This product is only available in Sharia principle (Akad
debited source account is an account other than TBU Wadiah).
account. The deposit amount is of customer’s choice,
starting from Rp300,000 to Rp5,000,000 with tenors Sharia Deposit
ranging from 6 to 72 months. TBU is a collaboration Investment product based on the Sharia Mudharabah
between the Bank and PT Asuransi Jiwa Manulife (profit sharing) contract. This investment is intended for
Indonesia, TBU in Rupiah is accompanied by insurance individual or corporate customers (non-individual) with
protection benefits (Umrah Plan Protection). a choice of placement period of 1, 3, 6 or 12 months or
On Call (daily) of 7, 14 and 21 days. The product period
Hajj iB Savings will expire at its maturity or when the customer closes
The savings that facilitates your Hajj pilgrimage. This the deposit before its maturity.
product is ideal for customers who have met the initial
deposit requirements and customers who plan to fund Cash Waqf Recipient Service
the pilgrimage. Danamon Syariah has been designated as LKS-PWU
(Sharia Financial Institution – Cash Waqf Recipient).
Hajj Pilgrims Savings account (RTJH) It provides services and convenience of paying the
Providing convenience for customers to register for Hajj endowment cash through the Social Banking application
through payment of an initial deposit of Rp25 million for or socialbanking.id. in collaboration with digital partner
the Hajj Organizing Fee (BPIH) that is directly connected PT Minasa Finteknologi Syariah and Nazhir, a certified
to the Integrated Hajj Computerized System (SISKOHAT) Cash Waqf Management Institution. This application
of the Ministry of Religious Affairs of the Republic of enables a safer and more reliable way of giving waqf.
Indonesia.
Proteksi Prima Amanah
Hajj Planing iB Savings A sharia-based term life insurance product that
A savings plan based on Sharia profit sharing principle provides death benefit, total permanent disability
(Mudharabah) and offered in Rupiah currency that is benefit and maturity benefit in the form of returning the
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contribution/premium that has been deposited (if any) UNSECURED LOAN

when the policy matures.
Instant Funding
iB House Ownership Financing Instant Funding is an unsecured loan facility for
Home ownership financing solution with installments individuals that can be used to meet all needs with a
up to a tenor of 20 years based on the Sharia Leasing tenor up to 3 years and a loan limit up to Rp200 million.
scheme (Ijarah Muntahiya Bit Tamlik) and the partnership
scheme - Musyarakah Mutanaqisah (MMQ).
DANAMON SAVINGS ACCOUNT AND LOANS
iB Employee Cooperative Financing
Financing with a Mudharabah (profit sharing) scheme Dana Pinter 50 (DP50)
for Employee Cooperatives which will be distributed to Financing facility (with collateral) for small and micro
members of Employee Cooperatives for their needs with enterprises (SMEs), traders and individuals, with a fast
member’s receivables as its guarantee. credit approval process from the time the completed
documents are received. This facility provides maximum
iB Rural Bank Financing financing of Rp100 million.
A working capital financing with a Mudharabah (profit
sharing) scheme to BPRS (Sharia-based Rural Bank) Dana Pinter 200 (DP200)
which will then be distributed to the customers of BPRS Financing facility (with collateral) for small and micro
for their needs of working capital, investments, and enterprises (SMEs), traders and individuals, with a fast
other purposes. credit approval process from the time the completed
documents are received. This facility provides maximum
iB Working Capital Financing financing of Rp500 million.
A short-term financing product to fulfill working capital
needs for business based on Sharia principles. Si Pinter Savings Account
Savings product with affordable initial deposit. Eligible
iB Investment Financing customers will receive benefits such as insurance
A mid- and long-term financing product for investment protection with free premium, ATM and transfer facilities,
financing such as capital goods/fixed assets and other free administrative charges on electricity and telephone
means of production based on Sharia principles. bill payment as well as cash deposit pick up service.
iB Leasing Financing DSP Deposit

It is a working capital financing and investment product Term savings product for DSP customers with affordable
in the form of leasing/lease-purchase of certain assets initial deposit that can only be withdrawn based on the
with the option of transferring ownership of assets at given time period.
the end of the lease period through sale and purchase
or grants in accordance with Sharia principles. TabunganKU
Low-cost savings account, no monthly administration
iB Trade Financing fees, low initial deposit and easily accessible by the
A comprehensive trade financing solution which public.
complies with Sharia principles to fulfill working capital
needs and business investments. DP500
Financing facility (with collateral) for small and micro
iB Sharia Current Account Financing enterprises (SMEs), traders and individuals, with a fast
A financing of working capital purposes for business credit approval process from the time the completed
entities with a period of 1 year and can be extended in documents are received. This facility provides maximum
the form of a Current Account and in accordance with financing of Rp1.5 billion.
Sharia principles.
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ATM SERVICES Danamon Online Banking

Internet banking service for transactions such as balance
24-hours online banking services with facilities including inquiry, domestic or international fund transfer (Rupiah/
cash withdrawals, balance inquiries, overbookings, foreign currency), time deposit-online (not limited to
transfers, purchases and payments-with additional working days but also on holidays/weekends), GOPAY and
features such as Astra Credit Company (ACC) Loan OVO top ups, Ziswaf payment, “Belanja-Online” payment
Payment-vehicle loan installments and Data Package with credit card account source, Limit Setting for Debit
Purchase “Lifestyle” (Telkomsel). Customers can access card Online transaction, Foreign currency purchase,
these features at more than 1,400 Danamon ATM spread various payments, purchases, online checking account,
across Indonesia as well as ATMs in the ATM Bersama, mutual fund information and government bond order
PRIMA, and ALTO networks. placement. This service is equipped with SMS or device
token, completed with notification via SMS and email.
CDM SERVICES
D-Bank PRO
24-hour online banking services to make cash deposit One-control application service that offers convenience,
(either to personal account or other Danamon accounts) practicality and variety of transactions including
and balance inquiry. This service is available on 70 CDM financial and non-financial transactions. It can also
(Cash Deposit Machine) spread throughout Indonesia. be accessed using a PC/Laptop/Tablet for the Website
version with the URL address: https://www.dbank.
HELLO DANAMON co.id. It has an attractive appearance and provides
the seamless transaction experience when accessing
As part of Danamon’s commitment to prioritizing using smartphones/PCs/Laptops/Tablets. The variety
customers service, Hello Danamon serves customer of transactions available ranging from various types of
needs, including obtaining information and service transfers in Rupiah or foreign currencies (including the
transactions, as well as a means of submitting BI Fast transfer feature), current payment - QR Payment,
complaints regarding banking and credit card products. e-wallet top ups (OVO, GOPAY), token top ups/electricity
HelloDanamon is accessible 24 hours a day. payment, online deposit placement without needing to
go to a branch to government bond order placement
and many other purchases/payments. Ease of access
ELECTRONIC BANKING CHANNEL with modern login methods such as BIOMETRIC
(Fingerprint and Face ID) and the use of mPIN as an easy
D-Bank Registration and fast transaction authorization. The application can
Online account opening services in accordance be downloaded in the App Store and Play Store.
with customer needs, with various options of both
conventional and sharia products. Accounts are DCard Mobile
immediately created and banking transactions through A smartphone application for Danamon Credit Card
Digital services (Danamon Online Banking/D-Bank) holders for convenient control of their Credit Cards,
can be done directly. The ATM/Debit card will be sent anytime and anywhere. The DCard Mobile application
to the selected address and simply activate it via the has various features such as real-time access to credit
application. card transactions, temporary card blocking, routine
bill payment registration, limit transfer update, and
D-Save transaction changes.
D-Save is a special, Rupiah-denominated savings
product for individual customers that can be opened QR DANAMON
anywhere and anytime through the D-Bank Registration Danamon QR service is a digital payment medium
digital service. Saving with D-Save helps customers in facilitated by Bank Danamon. This service can be used
managing finances for various needs, such as monthly by merchants that collaborate with Bank Danamon in
expenses management and long-term planning. managing payment transactions from the merchant’s
customers using QR Code scan that are in accordance
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04 Pembahasan dan
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with QRIS. Merchants will receive a QR Code to of the loan facility. Maximum Promes period is 180 days
process payment transactions as well as to access the and not exceed the period of Letter of Credit Agreement.
Danamon QR Application. This app is accessible using
Internet-connected cellular phones and features push Term Installment Loan (KAB)
notification for every successful transaction. Loan facilities for investment purposes to support
customers’ business activities. Types of investment that
D-BilLink can be financed are for Productive Assets, for example:
D-BilLink is a digital solution in the form of an integrated land and buildings, industrial equipment and machinery
website from Bank Danamon that can be used by a and others.
Community to manage and receive regular payments
from its Members. With D-BilLink, the Community can Shop-House Financing (KTU Ruko)
manage Member Data, Billing Data, view Member’s Shop-House Financing (KTU Ruko) is a financing facility
payment history, calculate fines and payment options, for the purchase of a business place such as shop-
and get complete and detailed Reports. house or office-house with a lower monthly installment
scheme and longer installment period. One of the
SMS Banking Service-USSD benefits of KTU Ruko is its lower installment rate that
Online banking services via SMS with an access of enables customer to repay some portion of the loan
*141*12#, Practical, Easy and Safe. Various information principal at the maturity date of the loan.
and transaction services can be accessed through
all types of mobile phones, without depending on
the internet network. Every transaction will receive TRADE FINANCE
a notification via SMS so that transaction security is
guaranteed. Letter of Credit/SKBDN
With the Letter of Credit (LC) or SKBDN facility, Bank
Danamon will provide payment guarantee to the seller
SMALL AND MEDIUM ENTERPRISES (exporter) as well as guarantee to the buyer (importer)
that payment will only be made upon presentation of
Overdraft Loan compliance documents in accordance with the terms
Loan facilities provided for working capital purposes. and conditions of the LC/SKBDN.
This Overdraft Credit Facility (KRK) is a short-term loan
and can be extended for a period of time. This product Incoming Collection Services (ICS)
offers flexibility where withdrawals can be made at any Services provided by Bank Danamon to handle document
time using a slip (cheque/clearing account letter) during collection under documentary collection payment
the credit period. method sent by Remitting Bank to Bank Danamon,
which serves as the Collecting Bank or Presenting Bank.
KRK Combo
Bundling Program between Overdraft Facility and Incoming Collection Avalization (ICA)
Deposit Account (Current Account/Savings Account) Incoming Collection Avalization (ICA) or also known
with automatic sweep in/out feature between the as Billing Avalization is the provision of avalization for
Overdraft facility and the Deposit Account in order to the collection of import documents that guarantees
facilitate Debtors in managing the cash flow between payment to the Seller (Exporter) under the Documentary
these accounts and maintain Overdraft utilization at a Collection payment method.
certain level.
Shipping Guarantee (SG)
Demand Loan Facility provided to importer customers (on LC/SKBDN
Loan facility for working capital purposes. This is a short- opened by Bank Danamon) to obtain control over goods
term loan with the option to extend the loan period. from the shipping company when the original Bill of
Funds withdrawal using Promissory Note (Promes) within Lading has not been received by the Bank or Customer
a certain period of time, maximum up to maturity date while the goods have reached the destination port.
477
Clean LC/SKBDN Negotiation (CLN) Danamon on the basis of Outgoing Collection Services
Facility provided to exporter customers (beneficiary) transactions.
in the form of documents negotiation where the
documents are in accordance with LC/SKBDN terms Open Account Financing (OAF)
and conditions. Funding granted to buyer/importer or seller/exporter
for Open Account underlying transactions done
Discrepant LC/SKBDN Negotiation (DLN) domestically or internationally.
Facility provided to exporter customers (beneficiary) in
the form of documents negotiation which the presented Trade Supplier Financing (TSF)
documents are not in accordance with the terms and Trade Supplier Financing (TSF) is financing without
conditions of the LC/SKBDN. regressive rights to the seller in which the Bank takes
Outgoing Collection Services (OCS) the buyer’s risk and provides funds to the seller at a
Services provided by Bank Danamon to exporter discount (interest paid in advance), until the accepted
customers to handle documents from the documentary invoice is due. This financing is carried out using the main
collection. Bank Danamon serves as Remitting Bank underlying document in the form of a draft endorsed by
that will send the documents received from drawer the seller to BDI and accepted by the Customer (Buyer/
(exporter) to Collecting Bank. Principal).
Transferable LC/SKBDN Supplier Prepayment (SP)

A Transferable LC/SKBDN is an LC/SKBDN that can be Supplier Prepayment (SP) is a financing without
transferred by the original (first) Beneficiary to one or regressive rights to the seller where the Bank takes the
more second Beneficiaries. LC/SKBDN Transferable is risk of the buyer and provides funds to the seller at a
used when the Supplier of goods sells them through discount (interest is paid in advance), until the accepted
an Intermediary and does not deal directly with the invoice is due. This financing is carried out by using the
ultimate Buyer. main underlying documents in the form of accepted
invoices, transfer of accounts receivable (Cessie), as well
Import LC/SKBDN Financing (ILF) as submissions for sales of receivables.
ILF is an alternative financing where funds were
originated from Financing Bank which can be offered Bank Guarantee (BG)/SBLC/Demand Guarantee
to Customer (Applicant) to obtain payment extension (DG)
period while using LC/SKBDN payment method. Written assurance given by Danamon on behalf of
customers to the Principal based on specific contract.
There are two types of Import LC/SKBDN Financing (ILF) Payments are made based on claims by the Principal
products in Danamon: (1) Import LC/SKBDN Financing due to customer’s failure to fulfill obligations based on
Sight and (2) Import LC/SKBDN Financing Usance. agreement (default).
Financing Against Trust Receipt (FATR)

Short term financing for importers to meet the needs of FINANCIAL SUPPLY CHAIN
working capital and settlement of obligations to supplier Distributor Financing (DF)
that matured on the basis of LC/SKBDN or Collection. Service and financing solution to supply chain community
Funding will be provided upon submission of Trust of the Principal, namely Distributors. With guarantee
Receipt and Promissory Note as a legal documentation. that payment will be received on a timely manner,
Principals can focus more on their core business. This
Pre-shipment Financing (PSF) solution also benefits Distributors as they can enjoy the
Short-term trade financing available to exporters to extension of payment term, ease of transactions and
meet the needs of working capital (purchase of raw competitive collateral.
materials, production activities and others) before
shipment associated with export schedule and can be Early Collection Structure (ECS)
provided either on the basis of LC/SKBDN or Purchase Early Collection Structure (ECS) is a facility for Principals
Order. to get payment earlier than the due date of the bill. This
facility is an additional feature in the DF program that
Outgoing Collection Financing (OCF) can be used by the Principal as needed.
Financing facility provided on the basis of receivables
owned by the seller (customers) and invoiced through
478
04 Pembahasan dan
Analisis Manajemen
CASH MANAGEMENT ERP (Enterprise Resource Planning) Direct

Payment
Danamon Cash Connect Services that allow Danamon Cash Connect customers
Internet banking service that simplifies financial to upload financial transactions (i.e.: transfers, auto
management of the business, in which customers can loans, payroll), non-financial transactions, and other
perform various banking transactions directly, fast, and transaction, directly through the customers’ ERP system.
efficiently from customers’ premises through internet
network equipped with encrypted security system. EDC Mobile Payment
Mobile Token and Mobile App version also makes EDC mobile services used to facilitate the cashless
transactions become easier and more practical. billing process between Distributor and Retailer.
API Central
Cash Pick Up & Delivery Services Electronic channel services using the concept of API
A service provided to customers for pick-up and delivery (Application Programming Interface) for customers to
of cash and/or cheques. This service is included with make payment transactions and Virtual Accounts as
insurance and the fund will be credited to customer’s well as checking transaction status system to system
account at same day or the next business day. The with Danamon.
service method and frequency can be set up as per
customers’ requirements. Corporate Debit Card
Debit card given to corporate customers that is used
Cash Collection Machine for the purposes of routine operational transactions of
A service provided to customer for depositing the cash the company (among others: petty cash, payment for
directly into deposit machine installed at customer’s shopping transactions and others).
premise and the fund will be credited at same day to
predetermined account.
TREASURY
Cash Pick Up with Mobile Device
Cash pick up service using a mobile device (handheld FX Today/Tom/Spot
terminal) that operates via wireless connection to Purchase or sale transaction of one currency to another
efficient and faster cash pick up process. currency with the agreed exchange rate by both parties
at the transaction date in which the transaction
Virtual Account settlement is done at the same day with transaction date
Cash management solution that provides effortless way (Today’s currency), one business day after transaction
to identify the fund remitter and reconciliation process. date (Tomorrow’s currency) or two business days after
Payment options for virtual account and data connection transaction date (Spot rate).
can be modified according to customers’ requirement.
FX Forward
e-Tax Purchase or sale transaction of one currency to another
A real time on-line tax payment service both for single currency with the agreed exchange rate by both parties
and multiple ID Billing via Danamon Cash Connect, in at the transaction date in which the transaction
which the tax payment receipt (BPN) can be printed settlement is done more than two business days after
directly. the transaction date.
Liquidity Management FX Domestic Non-Deliverable Forward (DNDF)

Liquidity management services for customers’ Standard derivative transaction of foreign currency
operational account to maximize the control function against Rupiah (plain vanilla) in the form of forward
and optimize the return. These services include Cash transaction with fixing mechanism which is done in
Pooling, Cash Distribution and Range Balance. domestic market.
Notional Pooling
Linking bank accounts in the same currency for the
purpose of calculating interest and liquidity management.
479
FX Swap Corporate Bonds

Exchange transaction of two types of currencies in Long-term debt securities issued by Indonesian
which one party agrees to buy (or sell) one currency Corporations, both State-Owned Enterprises (BUMN)
against other currency and at the same time resell (or and other corporations, to bondholders in exchange for
repurchase) at the price and settlement dates agreed on a certain amount of interest (coupons).
the transaction date.
Interest Rate Swap (IRS) DANAMON PRIVILEGE

Transaction agreement between two parties to exchange
assets or liabilities that have a floating interest rate with Danamon Privilege provides the best service for the
assets or liabilities that have a fixed interest rate or welfare of your family now and in the future with various
vice versa for the same currency based on the agreed financial solutions and benefits such as Wealth Advisory,
conditions and time. Customer can utilize it as hedging Wealth Growth and Preservation, World of Privileges and
instrument to interest rate risk. Convenient Access. This service is provided for individual
customers with a minimum combined total balance of
Cross Currency Swap (CCS) Rp500.
Transaction agreement between two parties to
exchange principal notional and payment of interest rate
in different currencies, based on the agreed conditions
and time. Customer can utilize it as hedging instrument
to interest rate risk and foreign exchange risk.
FX Domestic Non-Deliverable Forward (DNDF)

moved after FX Forward Conventional and
Sharia State Securities (SBN)
Long-term bonds issued by the Government of the
Republic of Indonesia (including Government Securities
and State Sharia Securities) to debt securities holders in
return for a certain amount of interest (coupons). SBN
issued by the Government can be based on conventional
principles (SUN) or sharia principles (SBSN).
480
04 Pembahasan dan
Analisis Manajemen
Senior Executive Officers Senior Executive Office
& Executive Officers

No. Full Name Position Name Nationality Age Join Date Major
Bachelor’s Degree, Electrical
Treasury & Capital 2 December
1 Herman Savio* Indonesia 52 Engineering
Market Head 2013
Universitas Trisakti
Bachelor’s Degree,
Chief Operations
2 Evi Damayanti* Indonesia 48 1 June 2016 Accounting
Officer
Universitas Indonesia
Chief Internal 12 August Bachelor’s Degree, Economy
3 Yenny Linardi* Indonesia 54
Auditor 2019 Trisakti University
Master’s Degree, Electrical
Andrew Transaction Engineering
4 Indonesia 51 1 March 2019
Suhandinata* Banking Head California State Polytechnic
University
Enterprise
Thomas Banking & Master’s Degree, Finance
5 Indonesia 54 14 March 2019
Sudarma* Financial California State University
Institution Head
Pejabat Eksekutif-
Ecommerce & Int’l Trade
6 Taro Hashimoto* Business Japan 53 1 April 2019
Universitas Doshisha Kyoto
Collaboration
Japan
Master’s Degree,
Management
Mahesh Ajit Chief Information 21 February
7 India 49 K J Somaiya Institute Of
Ranade* Officer 2020
Management Studies &
Research, Bombay University
Syariah Strategic Bachelor’s Degree,
30 November
8 Refita Rulli Arief Management Indonesia 43 Accounting & Finance
2001
Head Universitas Trisakti
Sonny Branch Network
9 Indonesia 54 1 March 2001 Management
Wahyubrata Head
California State University
Bachelor’s Degree, English
Service Quality &
Literature
10 Sri Setyaningsih Contact Center Indonesia 57 15 April 2020
Universitas Kristen Satya
Head
Wacana
Master’s Degree,
Bancassurance 4 November
11 Paulus Budihardja Indonesia 55 The Garvin School Of
Business Head 2008
International Management
Master’s Degree, Business
Cahyanto C.
12 Head Of Litigation Indonesia 53 21 April 2003 Law
Grahana
ORM Fraud & QA 11 October Master’s Degree, Finance
13 Eunice Kurniawan Indonesia 47
Head 2010 Imperial College London
Bachelor’s Degree, Electrical
Risk Modeling,
Engineering
14 Dwi Susiyanto Quant Tech. & Indonesia 50 3 August 2016
Institut Sains Teknologi
Analytics Head
Akprind
Wibowo Edi 25 October Architecture Engineering
15 CREM Head Indonesia 55
Santosa 2021 Universitas Katolik
Parahyangan
HCBP & HC Region Bachelor’s Degree, Fisheries
16 Priska M. cahya Indonesia 54 16 July 1990
Head Institut Pertanian Bogor
*Senior Executive Officers
481
Senior Executive Office
Organization Dev Bachelor’s Degree,
21 November
17 Maiza Dewi Yanti & Talent Mngt Indonesia 51 Psychology
2016
Head Universitas Indonesia
Change Risk Master’s Degree, Finance
3 November
18 Vivian Widjaja Management Indonesia 51 University of Texas at San
2016
Head Antonio
Satyo Haryo Head of Legal 1 December Bachelor’s Degree, Law
19 Indonesia 48
Wibisono Counsel 2016 Universitas Gadjah Mada
Market Liquidity 1 September
20 Ari Priyatna Indonesia 52 Mathematics
Risk Head 2014
Institut Teknologi Bandung
Information Risk Master’s Degree, Information
Rony Iskandar 15 February
21 Management Indonesia 47 System
Kustendro 2017
Head Universitas Bina Nusantara
Hendro Basuki Head Of Financial 13 September High School Diploma
22 Indonesia 55
Nurjanto Crime Compliance 2021 SMAN 24
Employee
Bachelor’s Degree, Law
23 Abdul Hadi & Industrial Indonesia 46 5 June 2017
Universitas Islam Bandung
Relations Head
HC Chief 22 September Master’s Degree, Psychology
24 Ronny Iswara Indonesia 46
Operating Officer 2017 Universitas Indonesia
Consumer 20 August
25 Lanny Hendra Indonesia 53 Accounting
Business Head 2018
Macquarie University
Sr. Credit Officer
Andre Santoso 29 March Master’s Degree, Accounting
26 - Enterprise Indonesia 58
Sudjono 2019 University Of Arizona
Banking
Sr. Credit Officer
Ng Suwito Bachelor’s Degree, Statistics
27 - Enterprise Indonesia 52 26 April 2018
Muljana Macquarie University
Banking
Master’s Degree, Industrial
Roy Fahrizal 24 September
28 Rewards Head Indonesia 47 Engineering
Permana 2018
Institut Teknologi Bandung
Syariah & CREM Bachelor’s Degree, Civil Law
29 Yatno Sukendar Indonesia 54 1 May 1993
Assurance Head Universitas Kristen Indonesia
Hendy Deiny Head of Corporate Bachelor’s Degree
30 Indonesia 52 3 May 2010
Wong Secretary Concordia University
Business Bachelor’s Degree,
Humilo Felona 1 October
31 Operational Risk & Indonesia 44 Accounting
Ronitua 2019
Control Head Universitas Indonesia
Lily Puspasari Chief Marketing Bachelor’s Degree
32 Indonesia 52 9 August 2019
Foeng Officer California State University
Talent Acquisition MASTER’S DEGREE,
19 August
33 Widyarini Utami & Employer Indonesia 50 Manajemen
2019
Branding Head Universitas Gadjah Mada
Theresia Adriana Financial
34 Indonesia 46 1 July 2004 Accounting
Widjaja Controller
Universitas Tarumanagara
Bachelor’s Degree, Industrial
Financial Shared 16 November
35 Ratna Sari Haliem Indonesia 52 Engineering
Services Head 1995
Corp. Planning & Master’s Degree, Business
36 Reza Iskandar Investor Relations Indonesia 47 25 May 2015 Administration
Head University of California
16 January Master’s Degree
37 Susan Tedjadinata BPS Head Indonesia 49
2017 ST John’s University
Procurement 1 October
38 Anneke Thiofanny Indonesia 45 Management
Head 2004
482
04 Pembahasan dan
Analisis Manajemen
Senior Executive Office
Global Strategy 20 September Master’s Degree, Economy
39 Yogi Zadian Arief Indonesia 42
Manager 2017 Strathclyde University
Financing
Master’s Degree, Banking &
Partnership 12 August
40 Sandi Wijaya Indonesia 40 Finance
& Innovation 2019
Prasetya Mulya University
Manager
Payment
Master’s Degree,
Elisa Majasari Partnership 3 February
41 Indonesia 53 Management
Halim & Innovation 2015
Prasetya Mulya University
Manager
SME Business
42 Haryanto Indonesia 45 15 April 2020 Architectural Engineering
Head
Universitas Tarumanagara
Syariah Product
Muhammad Yusuf & Channel 3 October
43 Indonesia 36 Information Technology
Pratama Development 2011
STT Telkom
Head
Syariah Wholesale Bachelor’s Degree, Business
44 Isabella Aritonang Product Sales Indonesia 57 24 April 2020 University of Sydney Business
Head School
Sustainability Bachelor’s Degree, Law
45 Abdul Hadi Indonesia 46 5 June 2017
Finance Head Universitas Islam Bandung
Head of Special Bachelor’s Degree,
46 Gunawan Te Portfolio Indonesia 51 1 June 1997 Economics Management
Management Universitas Negeri Surabaya
Master’s Degree, Economics
Regulatory
Management
47 Lie Chen Compliance & Indonesia 48 6 July 2015
Universitas Katolik
Assurance Head
Parahyangan
CCO Consumer, Master’s Degree,
1 January
48 Reza Pely Rusly SME & Mass Indonesia 53 Universite Grenoble 2 - Pierre
2016
Market Mendes France
Master’s Degree, Accounting
Sr. Credit Officer 1 October
49 Sheky Lemasoa Indonesia 52 & Finance
EB Remedial 2020
Griffith Universty
Regulatory Bachelor’s Degree,
25 September
50 Palupi Compliance & Indonesia 45 Accounting
2017
Advisory Head Universitas Sriwijaya
Learning, Master’s Degree,
Christian
51 Engagement & CU Indonesia 40 1 July 2015 Universitas Katolik
Tanuwidjaja
Head Soegijapranata
Syariah Consumer
Indrayana Lakoni 26 March Bachelor’s Degree, Fisheries
52 & SME Product Indonesia 57
Syamsudin 2020 Institut Pertanian Bogor
Sales Head
Andreas Chief Digital Bachelor’s Degree, Business
53 Indonesia 44 1 July 2019
Kurniawan Officer London School of Economics
Master’s Degree, Accounting
Tax Planning & 22 February & Finance
54 Yusdian Faradiana Indonesia 46
Strategy Head 2021 Magister Akuntansi
Universitas Indonesia
Credit &
Enterprise Risk Bachelor’s Degree, Economy
55 Enriko Sutarto Indonesia 37 7 June 2010
Management University of Sydney
Head
Portfolio, Policy &
56 Rusmin Basuki Indonesia 37 25 May 2015 Mechanical Engineering
Analytics Head
RMIT University
483
Branches offices
Branches Offic
& Sharia Branches
No Branches Address Region Area

1 BDI JAKARTA ENGGANO IC JL ENGGANO RAYA NO 36 TANJUNG JAKARTA Jakarta Utara
PRIOK JAKARTA UTARA 14310
2 BDI CEMPAKA PUTIH JL. CEMPAKA PUTIH RAYA NO. 11, JA- JAKARTA Jakarta Pusat
TENGAH KARTA PUSAT 10510
3 BDI JAKARTA ITC CEMPAKA GRAHA RUKAN ITC CEMPAKA MAS JAKARTA Jakarta Pusat
MAS BLOK B NO. 7 10640
4 BDI JAKARTA PANTAI IN- Ruko Crown Golf Blok A No. 53, JL. JAKARTA Jakarta Utara
DAH KAPUK 2 Marina Raya RT 07, RW 02 Kel. Kamal
Muara, Kec Panjaringan, Pantai Indah
Kapuk, Jakarta Utara, 14470
5 BDI JAKARTA PS PADE- PS. PADEMANGAN TIMUR LT.DASAR JAKARTA Jakarta Utara
MANGAN BLOK BKS 137, JAKARTA 14410
6 BDI JAKARTA ARTHA GA- RUKAN ARTHA GADING BLOK C NO. 18 JAKARTA Jakarta Utara
DING JL. BOULEVARD ARTHA GADING KELA-
PA GADING JAKARTA UTARA 14240
7 BDI JAKARTA JELAMBAR JL. JELAMBAR SELATAN I NO. 1B, JAKARTA Jakarta Barat
JELAMBAR BARU, GROGOL, PETAMBU-
RAN, JAKARTA BARAT
8 BDI JAKARTA KAPUK JL. TELUK GONG RAYA KOMP. TPI II JAKARTA Jakarta Utara
TELUK GONG BLOK M NO. 34 KAMPUNG GUSTI, JA-
KARTA UTARA 14450
9 BDI JAKARTA BANDENGAN JL. BANDENGAN SELATAN KOMP.RUKO JAKARTA Jakarta Utara
SELATAN PURI DELTA MAS BLOK A NO 20-21 JAK
BAR.
10 BDI JAKARTA TAMAN DUTA RUKAN TAMAN DUTA MAS D9A NO.8 JAKARTA Jakarta Barat
MAS JELAMBAR, JAKARTA BARAT
11 BDI JAKARTA DANAU JL. DANAU SUNTER UTARA BLOK B.I.B JAKARTA Jakarta Utara
SUNTER NO. 15-16 SUNTER PODOMORO, JAKAR-
TA 14350
12 BDI JAKARTA GRIYA UTAMA GRIYA UTAMA BLOK A KAV NO 43 JAKARTA Jakarta Utara
SUNTER SUNTER JAK UT SUNTER AGUNG - JAK
UT 14350
13 BDI JAKARTA PANTAI IN- GALERIA NIAGA MEDITERANIA JAKARTA Jakarta Utara
DAH KAPUK BLOK.X-3 KAV.NO.A-8M& A-8N, PANTAI
INDAH KAPUK, JAKARTA UTARA
14 BDI JAKARTA GROGOL JL. MUWARDI RAYA NO. 7, GROGOL, JAKARTA Jakarta Barat
MUWARDI JAKARTA BARAT 11450
15 BDI JAKARTA ORION RUKO KOMP.ORION MANGGA DUA,JL. JAKARTA Jakarta Utara
MANGGA DUA RAYA MANGGA DUA, KOMP.RUKAN
ORION MANGGA DUA NO.3 JAKARTA
UTARA
16 BDI JAKARTA MITRA JL. YOS SUDARSO, KOMPLEK MITRA JAKARTA Jakarta Utara
SUNTER SUNTER BULEVARD BLOK B NO.7,
SUNTER, JAKARTA 14350
17 BDI JAKARTA KELAPA GA- KOMP RUKO KELAPA GADING SQUARE JAKARTA Jakarta Utara
DING SQUARE , JL. BOULEVARD BARAT RAYA BLOK D
NO. 28, KEL. KELAPA GADING BARAT,
KEC. KELAPA GADING , JAKARTA UT-
TARA
18 BDI JAKARTA JEMBATAN JL. KHM. MANSYUR NO. 255, JEM- JAKARTA Jakarta Barat
LIMA BATAN LIMA, JAKARTA BARAT 11255
484
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Branches Offic

19 BDI JAKARTA MANGGA 2 RUKO TEXTILE BLOK E4/6, JALAN JAKARTA Jakarta Utara
RAYA MANGGA DUA RAYA, JAKARTA 14430
20 BDI JKT PASAR PAGI Ps Pagi Mangga Dua Blok D Lt III No. 2 JAKARTA Jakarta Utara
MANGGA DUA (DH. ITC Jl. Arteri Mangga Dua Jakarta 14430
MANGGA DUA)
21 BDI JAKARTA CBD PLUIT JL.PLUIT SELATAN RAYA ,KOMP.CBD JAKARTA Jakarta Utara
PLUIT BLOK A 18
22 BDI JAKARTA PLUIT KEN- JL. PLUIT KENCANA RAYA 45-47, JA- JAKARTA Jakarta Utara
CANA KARTA 14450
23 BDI JAKARTA TELEPON JL. TELEPON KOTA NO. 7, JAKARTA JAKARTA Jakarta Barat
KOTA BARAT 11230
24 BDI JAKARTA PERNIAGAAN JL PERNIAGAAN TIMUR NO.55 JAKARTA Jakarta Barat
TIMUR
25 BDI JAKARTA KELAPA JL. BULEVAR BARAT BLOK XB NO. 8, JAKARTA Jakarta Utara
GADING 1 KELAPA GADING - JAKARTA UTARA
14240
26 BDI JAKARTA KELAPA JL. BOULEVARD RAYA BLOK FY NO. 1/9- JAKARTA Jakarta Utara
GADING II 12, JAKARTA UTARA 14240
27 BDI JAKARTA PANGERAN Jl. Pangeran Jayakarta No. 22, Kel. JAKARTA Jakarta Pusat
JAYAKARTA Mangga Dua Selatan, Kec. Sawah Be-
sar, Jakarta Pusat
28 BDI JAKARTA MUARA JL. MUARA KARANG RAYA NO. 72 BLOK JAKARTA Jakarta Utara
KARANG Z-3 SELATAN, JAKARTA
29 BDI JAKARTA CENTRAL Ruko GSA DB 08, Jl S. Parman Tj Du- JAKARTA Jakarta Barat
PARK ren Jakbar ( sebelah Maymay Salon)
30 BDI JAKARTA MALL TAMAN MALL TAMAN ANGGREK GROUND JAKARTA Jakarta Barat
ANGGREK FLOOR G-42, JL. S. PARMAN KAV.21,
JAKARTA BARAT 11450
31 BDI CIBINONG CITY CEN- Ruko Cibinong City Center Blok A.25 JAWA BARAT Kab. Bogor
TER Kel. Pakansari Kec. Cibinong Bogor
Jawa Barat.
32 BDI JAKARTA DEPOK MAR- RUKO GRAHA 99 JL MARGONDA RAYA JAWA BARAT Kota Depok
GONDA RT 008/03 NO.99 KEMIRI MUKA DEPOK
16423
33 BDI JAKARTA CINERE JL. CINERE RAYA KAV. 48-49 A, CINE- JAKARTA Jakarta Selatan
RE, DEPOK 16514
34 BDI JAKARTA AMPERA JL. AMPERA RAYA NO.11 GROUND JAKARTA Jakarta Selatan
RAYA FLOOR ,RAGUNAN PS MINGGU
35 BDI JAKARTA PANGLIMA Jalan Panglima Polim Raya no 59, RT/ JAKARTA Jakarta Selatan
POLIM RW : 007/004, Kelurahan Melawai,
Kecamatan Kebayoran Baru, Jakarta
Selatan 12160
36 BDI JAKARTA FATMAWATI JL. RS. FATMAWATI NO. 24, CIPETE JAKARTA Jakarta Selatan
IC UTARA, JAKARTA SELATAN 12430
37 BDI BOGOR JUANDA JL. IR. H. JUANDA NO. 46, BOGOR JAWA BARAT Kota Bogor
16000
38 BDI BOGOR TAJUR JL. RAYA TAJUR NO. 49-B, BOGOR JAWA BARAT Kota Bogor
16720
485
Branches Offic

39 BDI JAKARTA CILEDUG JL. CILEDUG RAYA NO. 5, CIPULIR, KE- JAKARTA Jakarta Selatan
RAYA BAYORAN LAMA, JAKARTA 12230
40 BDI JAKARTA KALIBATA KALIBATA TENGAH BLOK I F-G, JAKAR- JAKARTA Jakarta Selatan
TA SELATAN 12740
41 BDI JAKARTA MENARA JL. HR RASUNA SAID BLOK C NO. 10, JAKARTA Jakarta Selatan
BANK DANAMON KELURAHAN KARET, KECAMATAN SE-
TIABUDI, JAKARTA SELATAN
42 BDI JAKARTA BIDAKARA KOMPLEK BIDAKARA LT. LOBBY, JL. JAKARTA Jakarta Selatan
JEND. GATOT SUBROTO KAV. 71-73,
JAKARTA 12870
43 BDI JAKARTA SUPOMO JL. PROF. DR. SUPOMO NO. 55, TEBET, JAKARTA Jakarta Selatan
JAKARTA SELATAN 12810
44 BDI BOGOR - SURYAKEN- Jl. Suryakencana No. 331 JAWA BARAT Kota Bogor
CANA
45 BDI JAKARTA BENHIL JL. BENDUNGAN HILIR RAYA NO. 21, JAKARTA Jakarta Pusat
JAKARTA PUSAT 10210
46 BDI JAKARTA AGUS SALIM JL. H. AGUS SALIM NO. 59 A, JAKARTA JAKARTA Jakarta Pusat
PUSAT 10310
47 BDI JAKARTA PALMERAH JL. PALMERAH BARAT NO. 38 A, BLOK JAKARTA Jakarta Barat
5-6, GROGOL UTARA, JAKARTA 12210
48 BDI BOGOR WARUNG JL. RAYA PAJAJARAN KOMPLEK RUKO JAWA BARAT Kota Bogor
JAMBU WARUNG JAMBU, BOGOR 16153
49 BDI JAKARTA MENARA BEJ Gd. BEJ Tower 2 lt.1, Jl. Jend. Sudirman JAKARTA Jakarta Selatan
Kav.52+53, Jakarta
50 BDI JAKARTA KEMANG Jl. Kemang Raya 4 Jakarta Selatan JAKARTA Jakarta Selatan
51 BDI JAKARTA PERMATA Jl. Nikel Blok D No. 23-24 Permata JAKARTA Jakarta Selatan
HIJAU Hijau, Jakarta Selatan
52 BDI JAKARTA PONDOK KOMPLEK PERTOKOAN PONDOK INDAH JAKARTA Jakarta Selatan
INDAH BLOK UA NO. 1, JL. METRO DUTA, PON-
DOK INDAH, JAKARTA SELATAN
53 BDI JAKARTA WARUNG JL. WARUNG BUNCIT RAYA NO. 107, JAKARTA Jakarta Selatan
BUNCIT JAKARTA SELATAN 12760
54 BDI JAKARTA USMAN HA- Jalan Prapatan No. 50, Kel. Gambir, JAKARTA Jakarta Pusat
RUN (DH KEBON SIRIH) Kec. Gambir, Kota Jakarta Pusat, DKI
Jakarta (setempat dikenal dengan
nama Jalan Prajurit KKO Usman dan
Harun)
55 BDI JAKARTA CYBER 2 Cyber 2 Tower Level Ground Floor Unit JAKARTA Jakarta Selatan
B 2, Jl. HR. Rasuna Said Blok X-5 no.
13, Kuningan Jakarta Selatan 12950
56 BDI JAKARTA PONDOK PONDOK INDAH MALL 2, LT.DASAR JAKARTA Jakarta Selatan
INDAH MALL NO.G 34 B, PONDOK INDAH, JAKARTA
SELATAN 12310
57 BDI JAKARTA PONDOK The East Tower Lt. Dasar - 1.07-A, Jl. JAKARTA Jakarta Selatan
INDAH MALL Lingkar Mega Kuningan Blok E3.2, Kav.
1, Jakarta Selatan
486
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58 BDI JAKARTA TRINITY Trinity Tower, Lantai Dasar Suite 0101. JAKARTA Jakarta Selatan
TOWER Jl. H.R. Rasuna Said Kav. C22 Blok IIB
Kec. Setiabudi, Kel. Karet Kuningan,
Jakarta 12940
59 BDI JAKARTA RADIO DA- JL.RADIO DALAM RAYA NO. 10A RT/RW. JAKARTA Jakarta Selatan
LAM 001/002 KEL. GANDARIA UTARA, KEC.
KEBAYORAN BARU , JAKARTA SELATAN
60 BDI JAKARTA WISMA BNI WISMA 46 KOTA BNI LT. DASAR, JL. JAKARTA Jakarta Pusat
JEND. SUDIRMAN KAV. 1, JAKARTA
PUSAT 10220
61 BDI JAKARTA SUDIRMAN SUDIRMAN PLZ, INDOFOOD TOWER.JL JAKARTA Jakarta Selatan
PLAZA JEND SUDIRMAN KAV 76-78
62 BDS LAPANGAN ROS Jl. KH Abdullah Syafei No. 127 A,Tebet, JAKARTA Jakarta Selatan
Jakarta Selatan 12840
63 BDI CIKAMPEK A YANI 2 Jl. Ahmad Yani Ruko ex-Timbangan No. JAWA BARAT Kab. Karawang
3-4
64 BDI KARAWANG TUPAREV JL. TUPAREV KOMPLEK KARAWANG JAWA BARAT Kab. Karawang
PLAZA RUKO NO. 5-6, KARAWANG
41312
65 BDI RENGASDENGKLOK Jl. Raya Rengasdengklok No. 111, Desa JAWA BARAT Kab. Karawang
Rengasdengklok Selatan, Kec. Ren-
gasdengklok, Kab. Karawang, Provinsi
Jawa Barat
66 BDI KARAWANG KIIC Sentra KIIC, Lantai 1, Jl. Permata Raya JAWA BARAT Kab. Karawang
Blok Lot C-A1, Karawang Barat, 41361
67 BDI BEKASI LIPPO CIKA- RUKO PLAZA MENTENG BLOK A NO. JAWA BARAT Kab. Bekasi
RANG 25, RT 03/RW.09, DESA CIBATU, KEC.
LEMAHABANG, (CIKARANG SELATAN),
KAB BEKASI JABAR
68 BDI BEKASI CIKARANG GEDUNG EKS TAMARA , JL. RE MAR- JAWA BARAT Kab. Bekasi
TADINATA NO. 9 , CIKARANG, BEKASI
17530
69 BDI CIBUBUR KOTA WISATA Kota Wisata Cluster Concordia Blok JAWA BARAT Kab. Bogor
SRC No.6 Kel. Ciangsana Kec. Gn.Putri
Bogor Jawa Barat.
70 BDI BEKASI HARAPAN KOMP RUKO SENTRA NIAGA BOULE- JAWA BARAT Kab. Bekasi
INDAH VARD HIJAU,PERUMAHAN HARAPAN
INDAH BLOK SN 2 NO 16 -17 MEDAN
SATRIA - BEKASI 17132
71 BDI JAKARTA CIBUBUR JL.TRANSYOGI KM.3, KOMP.RUKAN JAWA BARAT Kab. Bekasi
TIMES SQUARE CIBUBUR TIMES SQUARE BLOK B1
NO.10, CIBUBUR JAKARTA TIMUR
72 BDI JAKARTA PONDOK JL. PAHLAWAN REVOLUSI NO. 125 JAKARTA Jakarta Timur
BAMBU B, PONDOK BAMBU, JAKARTA TIMUR
13430
73 BDI JAKARTA PONDOK RUKAN PONDOK GEDE PLAZA BLOK D JAKARTA Jakarta Timur
GEDE NO 1 S/D 2 P.GEDE BEKASI RT 04/01
JATIWARINGIN BEKASI 17426
74 BDI JAKARTA PEGAMBIRAN JL. PEGGAMBIRAN NO. 33-D, RAWAMA- JAKARTA Jakarta Timur
ARTOMORO NGUN, JAKARTA TIMUR 13220
487
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75 BDI JAKARTA PULO GA- PTC Pulogadung Blok I No.008 Jaktim JAKARTA Jakarta Timur
DUNG TRADE CENTER
76 BDI JAKARTA BUARAN JL.BUARAN RAYA BLOK A NO.93-94 JAKARTA Jakarta Timur
RAYA IC JAKARTA TIMUR
77 BDI JAKARTA KALIMALANG JL. TARUM BARAT HI NO. 1, KALI- JAKARTA Jakarta Timur
TARUM MALANG, JAKARTA TIMUR 13450
78 BDI BEKASI TAMAN GAL- JL. TAMAN GALAXY RAYA NO. 12 AD JAWA BARAT Kab. Bekasi
AXY RAYA IC BEKASI SELATAN
79 BDI JAKARTA GAJAH MADA JL. GAJAH MADA NO. 90 A, JAKARTA JAKARTA Jakarta Pusat
BARAT 11140
80 BDI BEKASI JUANDA JL. IR. H. JUANDA NO. 159, BEKASI JAWA BARAT Kota Bekasi
17112
81 BDI JAKARTA MATRAMAN JL. MATRAMAN RAYA NO. 52, JAKARTA JAKARTA Jakarta Timur
TIMUR 13150
82 BDI JAKARTA PLAZA KE- PLAZA KENARI MAS LANTAI 4 (P1) JAKARTA Jakarta Pusat
NARI MAS NO.UNIT K 001. JL.KRAMAT RAYA NO.101
JAKARTA PUSAT 10440
83 BDI JAKARTA GUNUNG JL. GUNUNG SAHARI RAYA NO. 49 JA- JAKARTA Jakarta Pusat
SAHARI KARTA PUSAT 10610
84 BDI JAKARTA JATINEGA- JL. JATINEGARA BARAT NO. 135 JAKAR- JAKARTA Jakarta Timur
RA IC TA TIMUR
85 BDI JAKARTA TOMANG JL. TOMANG RAYA NO. 51 C-D, BLOK JAKARTA Jakarta Barat
RAYA MM KAV. 557, JAKARTA BARAT 11440
86 BDI JAKARTA CIKINI JL. CIKINI RAYA NO. 71, JAKARTA PUSAT JAKARTA Jakarta Pusat
10330
87 BDI JAKARTA CIDENG JL. CIDENG TIMUR NO. 70 D, JAKARTA JAKARTA Jakarta Barat
TIMUR 10160
88 BDI JAKARTA HASYIM JL. KH. HASYIM ASHARI NO. 28 B, JA- JAKARTA Jakarta Pusat
ASHARI KARTA PUSAT 10130
89 BDI JAKARTA ABDUL MUIS JL ABDUL MUIS NO 60 JAKARTA PUSAT JAKARTA Jakarta Pusat
10160
90 BDI JAKARTA SURYO- JL. SURYOPRANOTO NO.75, JAKARTA JAKARTA Jakarta Pusat
PRANOTO 2 PUSAT
91 BDI JAKARTA PECENON- JL. PECENONGAN RAYA NO. 5 B-C, JAKARTA Jakarta Pusat
GAN JAKARTA PUSAT 10210
92 BDI JAKARTA PASAR BARU JL. PASAR BARU SELATAN NO. 16, JA- JAKARTA Jakarta Pusat
KARTA PUSAT 10710
93 BDI JAKARTA WIRYO- JL. SUKARJO WIRYOPRANOTO NO. 63, JAKARTA Jakarta Pusat
PRANOTO JAKARTA BARAT 11160
94 BDI BEKASI METROPOLI- METROPOLITAN MALL LT. DASAR NO. JAWA BARAT Kota Bekasi
TAN MALL 25, JL. RAYA KALIMALANG UJUNG,
BEKASI 17148
95 BDI JAKARTA ROXY MAS JL. K.H HASYIM ASHARI BLOK C 2 NO. JAKARTA Jakarta Pusat
6 & 7 JAKARTA
96 BDI JAKARTA MANGGA JL. MANGGA BESAR RAYA NO. 42 A-B, JAKARTA Jakarta Barat
BESAR JAKARTA 11150
488
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97 BDI JAKARTA TAMAN SARI JL. TAMANSARI RAYA NO. 53 A, JAKAR- JAKARTA Jakarta Barat
TA BARAT, 11150
98 BDI JAKARTA SAMANHUDI Jl Samanhudi No 81 Jakpus JAKARTA Jakarta Pusat
99 BDI BEKASI - KALIMALANG Kalimalang Commercial Center Blok JAWA BARAT Kota Bekasi
COMMERCIAL CENTER A6/8, Jl. Ahmad Yani
100 BDI JAKARTA TANAH JL. FACHRUDIN 36, BLOK A NO. 56-57, JAKARTA Jakarta Pusat
ABANG FACHRUDIN TANAH ABANG, JAKARTA PUSAT 10250
101 BDI JAKARTA RUKO ATRI- RUKO ATRIUM SENEN, JL. PASAR JAKARTA Jakarta Pusat
UM SENEN SENEN BLOK E , NO. 14, KEL. SENEN,
KEC. SENEN, JAKARTA PUSAT
102 BDI JAKARTA SENEN PUSAT GROSIR SENEN JAYA LT.3 RTU JAKARTA Jakarta Pusat
L3 / C9 -9, JL.SENEN RAYA, KEL.
SENEN, KEC.SENEN, DKI JAKARTA
103 BDI JAKARTA TANAH PASAR REGIONAL TANAH ABANG BLOK JAKARTA Jakarta Pusat
ABANG BLOK A A, BASEMENT 2 NO. 67 A-B, LOS F,
JAKARTA PUSAT
104 BDI JAKARTA GLODOK JL. PINANG SIA RAYA KOMPLEK RUKO JAKARTA Jakarta Barat
PLAZA 1 GLODOK PLAZA BLOK A NO. 26-28
JAKARTA
105 BDI JAKARTA LTC HAYAM LTC Blok RA No 41 Hayam Wuruk Ja- JAKARTA Jakarta Barat
WURUK karta
106 BDI JAKARTA - WAHID Jl. Wahid Hasyim No. 171 JAKARTA Jakarta Pusat
HASYIM
107 BDS CIRACAS Jl Raya Bogor No. 2 KM.22, Kel. Ram- JAKARTA Jakarta Timur
butan, Kec. Ciracas, Jakarta Timur
13830
108 BDI METRO SUMUR BAND- Komplek Pasar Sumur Bandung Blok B LAMPUNG Kota Metro
UNG No 15 -16 Lingkungan III RT 012 RW 005
Metro Pusat, Lampung
109 BDI PRINGSEWU A.YANI JL. AHMAD YANI NO.65, PRINGSEWU LAMPUNG Kab. Pringsewu
35373.
110 BDI CILEGON SERANG JL. MAULANA HASANUDDIN, SERANG BANTEN Kota Serang
PLAZA BLOK I NO. 5-6-7, SERANG
42112
111 BDI CILEGON S. A. TIRTA- JL. SULTAN AGUNG TIRTAYASA NO. 145, BANTEN Kota Cilegon
YASA CILEGON 42414
112 BDI TANGERANG CIKUPA PERUMAHAN CITRA RAYA BLOK L1 CIK- BANTEN Kab. Tangerang
UPA, TANGERANG
113 BDI TANGERANG PAM- Jalan Pamulang Raya Blok D2 no 7, BANTEN Kota Tangerang
ULANG RAYA Pamulang Barat Selatan
114 BDI TANGERANG BINTA- KOMP. RUKAN BINTARO JAYA SEKTOR BANTEN Kota Tangerang
RO III III A, BLOK A NO. 8-10, BINTARO, TAN- Selatan
GERANG 15224
115 BDI TANGERANG DAAN JL. DAAN MOGOT NO. 48, TANGERANG, BANTEN Kota Tangerang
MOGOT KODE POS 15111
116 BDI JAKARTA CITRA GAR- KOMPLEK CITRA GARDEN II BLOK I-I JAKARTA Jakarta Barat
DEN II NO. 12A, JAKARTA BARAT 11830
489
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117 BDI TANGERANG JATIU- Ruko Sol Marina Blok A No.1 Kel. Gan- BANTEN Kota Tangerang
WUNG dasari Kec. Jatiuwung Tangerang
118 BDI JAKARTA TAMAN RUKAN TAMAN PALEM LESTARI BLOK A JAKARTA Jakarta Barat
PALEM LESTARI II NO. 33 JL. KAMAL RAYA OUTER RING
ROAD CENGKARENG JAKARTA BARAT
-11730
119 BDI TANJUNG KARANG JL. KARTINI NO.182, TANJUNG KARANG LAMPUNG Kota Bandar
KARTINI 35111 Lampung
120 BDI TANJUNG KARANG JL. KIAI MAJA RUKO WAY HALIM NO. LAMPUNG Kota Bandar
WAY HALIM 14-15 KEDATON BANDAR LAMPUNG Lampung
35141
121 BDI TANGERANG SUPER- UNIT FF59A SUPERMALL KARAWACI JL. BANTEN Kab. Tangerang
MALL KARAWACI BULEVAR DIPONEGORO LIPPO KAR-
AWACI TANGERANG 15811
122 BDI TANGERANG GADING JL. BLV GADING SERPONG ALEXAN- BANTEN Kota Tangerang
SERPONG DRITE 3/9 Selatan
123 BDI JAKARTA KAPUK KA- Ruko Niaga Grisenda Blok GE No.45 JAKARTA Jakarta Utara
MAL Kel. Kapuk Muara Kec. Penjaringan
124 BDI TANGERANG ALAM JL. SUTERA NIAGA I/17, KOMPLEK BANTEN Kota Tangerang
SUTRA ALAM SUTERA, SERPONG, TANGERANG Selatan
15326
125 BDI TANGERANG ALAM JL. JALUR SUTERA 29 D NO. 21, PA- BANTEN Kota Tangerang
SUTRA 2 IC KUALAM, KEC. SERPONG UTARA, TAN- Selatan
GERANG SELATAN, BANTEN
126 BDI JAKARTA DURI JL.KOMPLEK RUKO TAMAN SEMANAN JAKARTA Jakarta Barat
KOSAMBI INDAH BLOK C - 26 DURI KOSAMBI
JAKARTA BARAT 11750
127 BDI JAKARTA KEBON JE- JL. RAYA MERUYA ILIR, KOMPLEK JAKARTA Jakarta Barat
RUK INTERCON INTERCON PLAZA BLOK A 1-2, KEBON
JERUK, JAKARTA 11630
128 BDI JAKARTA GREEN RUKO GREEN GARDEN BLOK I / 9 NO. JAKARTA Jakarta Barat
GARDEN 18, JAKARTA BARAT 11520
129 BDI JAKARTA TANJUNG JL. TANJUNG DUREN RAYA NO. 62, JAKARTA Jakarta Barat
DUREN JAKARTA BARAT 11470
130 BDI TANGERANG BSD JL. RAYA SERPONG BSD COMMERCIAL BANTEN Kota Tangerang
I BLOK 201 BSD SEKTOR VI , TAN- Selatan
GERANG 15310
131 BDI JAKARTA DAAN RUKO DAAN MOGOT KM. 6, KOMPLEK JAKARTA Jakarta Barat
MOGOT INDO RUKO BLOK 6 C-D, JAKARTA
11460
132 BDI JAKARTA GREEN VILLE KOMPLEK GREEN VILLE BLOK AY NO. JAKARTA Jakarta Barat
20, JAKARTA BARAT 11510
133 BDI TANGERANG ROSE- Roseville SOHO & Suite, Sunburst BANTEN Kota Tangerang
VILLE CBD lot I.8, BSD CITY Rukan Unit F, Selatan
JL. Kapten Soebianto Djojohadiku-
sumo RW 08, Lengkong Gudang, Kec.
Serpong,
Tangerang Selatan, Banten 15322
134 BDI TELUK BETUNG PAT- JL. PATTIMURA NO.2-4, TELUKBETUNG LAMPUNG Kota Bandar
TIMURA 35221 Lampung
490
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135 BDI TELUK BETUNG IKAN JL. IKAN HIU BLOK B 2-4 TELUK BE- LAMPUNG Kota Bandar
HIU TUNG 35223 Lampung
136 BDI JAKARTA PURI INDAH JL. PURI INDAH RAYA BLOK I NO. 41, JAKARTA Jakarta Barat
PESANGGRAHAN, JAKARTA BARAT 11610
137 BDI JAKARTA PURI KEN- RUKO PURI NIAGA 3 BLOK M8 - 1A,PURI JAKARTA Jakarta Barat
CANA IC KENCANA, JAKARTA BARAT.
138 BDI TASIKMALAYA YUDA JL.YUDANEGARA NO.40 TASIKMALAYA JAWA BARAT Kota Tasikmalaya
NEGARA
139 BDI GARUT CILEDUG JL.CILEDUG NO.36 GARUT JAWA BARAT Kab. Garut
140 BDI CIREBON YOS SUDAR- JL. YOS SUDARSO NO. 2 CIREBON JAWA BARAT Kota Cirebon
SO
141 BDI KUNINGAN SILIWANGI JL. SILIWANGI RUKO NO. 35-36 KUN- JAWA BARAT Kab. Kuningan
INGAN
142 BDI SUBANG OTISTA JL. OTISTA NO. 65 SUBANG JAWA BARAT Kab. Subang
143 BDI SUKABUMI A YANI JL. JEND. AHMAD YANI NO. 30 SUKA- JAWA BARAT Kota Sukabumi
BUMI
144 BDI CIANJUR COKROAM- JL.HOS.COKROAMINOTO NO.36 CIAN- JAWA BARAT Kab. Cianjur
INOTO JUR
145 BDI PURWAKARTA MARTA- JL. RE MARTADINATA NO. 7 PURWA- JAWA BARAT Kab. Purwakarta
DINATA KARTA
146 BDI MAJALAYA KONDANG Jl. Kondang No. 34 Majalaya JAWA BARAT Kab. Bandung
147 BDI BANDUNG SOREANG Jl. Raya Soreang Banjaran No. 453 JAWA BARAT Kab. Bandung
Soreang
148 BDI CIMAHI CIBABAT JL. RAYA CIBABAT NO.349 CIGUGUR JAWA BARAT Kota Cimahi
TENGAH CIMAHI
149 BDI BANDUNG GATOT Jl. Jenderal Gatot Subroto No. 268 JAWA BARAT Kota Bandung
SUBROTO
150 BDI BANDUNG A YANI JL. AHMAD YANI NO. 638 BDG JAWA BARAT Kota Bandung
151 BDI BANDUNG SETIA BUDI JL. DR. SETIABUDI 62 BANDUNG JAWA BARAT Kota Bandung
152 BDI BANDUNG SUMBER Komp. Pertokoan Sumber Sari Indah JAWA BARAT Kota Bandung
SARI 2 T9, Jl. Sumber Sari Indah
153 BDI BANDUNG ASIA AF- JL. ASIA AFRIKA NO. 180 BANDUNG JAWA BARAT Kota Bandung
RIKA
154 BDI BANDUNG PUNGKUR JL. PUNGKUR NO. 118 BANDUNG JAWA BARAT Kota Bandung
155 BDI BANDUNG KOPO JL. KOPO NO.26 BANDUNG JAWA BARAT Kota Bandung
156 BDI BANDUNG BUAH BATU JL. BUAH BATU NO. 166 BDG JAWA BARAT Kota Bandung
IC
157 BDI BANDUNG RIAU JL. RE. MARTADINATA NO. 136 (JL. RIAU JAWA BARAT Kota Bandung
NO. 136), BANDUNG
158 BDI BANDUNG JAMIKA JL.JAMIKA NO. 11 A, KEL. JAMIKA,KEC. JAWA BARAT Kota Bandung
BOJONGLOA KALER, BANDUNG JABAR
159 BDI BANDUNG JUANDA JL. IR, JUANDA NO.64, BANDUNG JAWA BARAT Kota Bandung
160 BDI BANDUNG PAJAJARAN Jl. Pajajaran No. 151 JAWA BARAT Kota Bandung
491
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161 BDI BANDUNG PASIRKA- Jalan Pasirkaliki No. 150C Bandung JAWA BARAT Kota Bandung
LIKI 2
162 BDI BANDUNG MERDEKA JL. MERDEKA NO. 40 BANDUNG JAWA BARAT Kota Bandung
163 BDI BANDUNG KOPO KOMP. TAMAN KOPO INDAH, RUKO 2 & JAWA BARAT Kab. Bandung
SAYATI 3 BDG
164 BDI BANDUNG TAMAN TAMAN KOPO INDAH II 1B NO.26 BAND- JAWA BARAT Kota Bandung
KOPO INDAH II UNG
165 BDI BANDUNG SUNIARAJA Jl. Suniaraja No. 57 - 59 JAWA BARAT Kota Bandung
166 BDI BANDUNG SUDIRMAN Jl. Jenderal Sudirman No. 30-32 JAWA BARAT Kota Bandung
167 BDI PEKALONGAN H JL.HAYAM WURUK NO.11A, PEKALON- JAWA TENGAH Kota Pekalongan
WURUK GAN
168 BDI TEGAL SUDIRMAN JL. JEND SUDIRMAN NO.11A, TEGAL JAWA TENGAH Kota Tegal
169 BDI CILACAP SUDIRMAN JL. JEND SUDIRMAN NO.21, CILACAP JAWA TENGAH Kab. Cilacap
170 BDI PURWODADI R. SU- JL. R SOEPRAPTO 66 PURWODADI JAWA TENGAH Kab. Grobogan
PRAPTO IC
171 BDI PURWOREJO AHMAD Jl. Kiayi Haji Ahmad Dahlan No. 60, JAWA TENGAH Kab. Purworejo
DAHLAN Kelurahan Purworejo, Kecamatan/
Kabupaten Purworejo, Propinsi Jawa
Tengah
172 BDI JEPARA PATIMURA IC JL. PATIMURA RUKO BLOK A2 JEPARA JAWA TENGAH Kab. Jepara
173 BDI BLORA GATOT SUB- JL. ALUN-ALUN SELATAN NO. 5, BLORA JAWA TENGAH Kab. Blora
ROTO
174 BDI SALATIGA SUDIRMAN JL. JEND. SUDIRMAN NO.170, SALATIGA JAWA TENGAH Kota Salatiga
175 BDI KENDAL RAYA JL. RAYA NO. 283, KENDAL JAWA TENGAH Kab. Kendal
176 BDI SRAGEN SUKOWATI JL. RAYA SUKOWATI NO. 243, SRAGEN JAWA TENGAH Kab. Sragen
177 BDI WONOSOBO SUMBING JL. SUMBING 22 WONOSOBO JAWA TENGAH Kab. Wonosobo
178 BDI BANJARNEGARA VET- JL. VETERAN NO. 82, BANJARNEGARA JAWA TENGAH Kab. Banjarneg-
ERAN ara
179 BDI KLATEN PEMUDA JL. PEMUDA UTARA NO.135 KLATEN JAWA TENGAH Kab. Klaten
180 BDI KUDUS A YANI JL. A. YANI NO. 77 KUDUS JAWA TENGAH Kab. Kudus
181 BDI MAGELANG PEMUDA JL. PEMUDA NO. 149, MAGELANG JAWA TENGAH Kota Magelang
182 BDI REMBANG KARTINI IC JL. KARTINI NO. 23. REMBANG JAWA TENGAH Kab. Rembang
183 BDI TEMANGGUNG TEN- Jl. Tentara Pelajar No. 6, Kec. Temang- JAWA TENGAH Kab. Temanggung
TARA PELAJAR IC gung, Kab. Temanggung
184 BDI KEBUMEN KUSUMA JL. KUSUMA NO.1, KEBUMEN JAWA TENGAH Kab. Kebumen
185 BDI GOMBONG YOS SU- JL. YOS SUDARSO NO. 428, GOMBONG JAWA TENGAH Kab. Kebumen
DARSO
186 BDI PURWOKERTO JL. JEND. SUDIRMAN NO. 183, PUR- JAWA TENGAH Kab. Banyumas
SUDIRMAN WOKERTO
187 BDI PURBALINGGA JL. JEND SUDIRMAN NO.111, PURBAL- JAWA TENGAH Kab. Purbalingga
SUDIRMAN INGGA
188 BDI PATI PEMUDA IC JL. PEMUDA NO. 239 C, PATI JAWA TENGAH Kab. Pati
492
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189 BDI JUWANA SILUGONG- JL. SILUGONGGONG NO. 12, JUWANA JAWA TENGAH Kab. Pati
GONG
190 BDI UNGARAN GATOT SUB- Jl. Gatot Subroto No. 156, Kel. Bandarjo JAWA TENGAH Kab. Semarang
ROTO IC Kec. Ungaran, Kab. Semarang, Propinsi
Jawa Tengah
191 BDI SUKOHARJO IR Jl Ir. Soekarno Blok C Kel. Madeondo JAWA TENGAH Kota Surakarta/
SOEKARNO Kec. Grogol Sukoharjo Solo
192 BDI YOGYAKARTA JALAN JL MAGELANG NO 93, DESA SINDU- D.I. YOGYAKARTA Kab. Sleman
MAGELANG (dh BDI YOG- ADI, KECAMATAN MLATI, KABUPATEN
YAKARTA DIPONEGORO) SLEMAN, DIY
193 SOLO - URIP SUMOHARJO Jl. Urip Sumoharjo No. 91, Kelurahan JAWA TENGAH Kota Surakarta/
Kepatihan Wetan, Kecamatan Jebres Solo
Kotamadya Surakarta Jawa Tengah
194 BDI YOGYAKARTA KALI- JL. KALIURANG KM 8 NO. 62 YOGYA- D.I. YOGYAKARTA Kab. Sleman
URANG KARTA
195 BDI YOGYAKARTA GON- JL. BRIGJEN KATAMSO NO.190 GON- D.I. YOGYAKARTA Kota Yogyakarta
DOMANAN DOMANAN, YOGYAKARTA
196 BDI SOLO SLAMET RIYADI Jl. Slamet Riyadi No.312, Kelurahan JAWA TENGAH Kota Surakarta/
Sriwedari, Kecamatan Laweyan, Sura- Solo
karta
197 BDI SEMARANG SETIABUDI JL . SETIABUDI NO 119 SEMARANG JAWA TENGAH Kota Semarang
198 BDI YOGYAKARTA URIP S. JL. URIP SUMOHARDJO 123, YOGYA- D.I. YOGYAKARTA Kota Yogyakarta
KARTA
199 BDI SEMARANG SULTAN JL. SULTAN AGUNG NO. 104-106 B JAWA TENGAH Kota Semarang
AGUNG RUKO NO.3, SEMARANG
200 BDI SEMARANG PEMUDA JL. PEMUDA NO. 175, SEMARANG JAWA TENGAH Kota Semarang
201 BDI SEMARANG PURI AN- JL. PURI ANJASMORO G 1 No. 36, KEL. JAWA TENGAH Kota Semarang
JASMORO TAWANGSARI, KEC. SEMARANG BARAT,
JAWA TENGAH
202 BDI SEMARANG GG TEN- GANG TENGAH NO. 77, SEMARANG JAWA TENGAH Kota Semarang
GAH
203 BDI SEMARANG BANG- JL. MT HARYONO BANGKONG PLAZA JAWA TENGAH Kota Semarang
KONG C-2, SEMARANG
204 BDI SEMARANG CI- KOMP. CITRALAND. JL. ANGGREK RAYA JAWA TENGAH Kota Semarang
TRALAND IC KAV 23-25, SEMARANG
205 BDI SEMARANG MAJAP- JL. MAJAPAHIT RUKO GAYAMSARI JAWA TENGAH Kota Semarang
AHIT BLOK A3, SEMARANG
206 BDI SEMARANG SUARI JL. SUARI NO.17A SEMARANG JAWA TENGAH Kota Semarang
207 BDI SEMARANG MT HARY- JL. MT HARYONO KOMP. BUBAKAN JAWA TENGAH Kota Semarang
ONO BL.A/5-6, SEMARANG
208 BDI PAMEKASAN TRUNO- JL. TRUNOJOYO NO. 63, PAMEKASAN JAWA TIMUR Kab. Pamekasan
JOYO MADURA
209 BDI JEMBER GAJAH MADA JL. GAJAH MADA NO. 84 JEMBER JAWA TIMUR Kab. Jember
210 BDI BANYUWANGI A YANI JL. JEND A. YANI NO.41, BANYUWANGI JAWA TIMUR Kab. Banyuwangi
211 BDI BOJONEGORO SUR- JL. UNTUNG SUROPATI NO. 26, BOJO- JAWA TIMUR Kab. Bojonegoro
OPATI NEGORO
493
Branches Offic

212 BDI MADIUN COKROAMI- JL. HOS COKROAMINOTO 124-126 JAWA TIMUR Kota Madiun
NOTO MADIUN
213 BDI PONOROGO GAJAH- KOMPLEK PERTOKOAN GAJAH MADA JAWA TIMUR Kab. Ponorogo
MADA KAV,42-45 PONOROGO
214 BDI BLITAR MERDEKA JL. MERDEKA 28 KAV.4-5, BLITAR JAWA TIMUR Kota Blitar
215 BDI KEDIRI BRAWIJAYA JL. BRAWIJAYA NO.33 KEDIRI JAWA JAWA TIMUR Kota Kediri
TIMUR
216 BDI TULUNG AGUNG JL. KAPTEN KASIHIN NO. 157, TULUN- JAWA TIMUR Kab. Tulungagung
KASIHIN GAGUNG
217 BDI PASURUAN PANDAAN Kawasan Central Niaga Pandaan Kav. JAWA TIMUR Kab. Pasuruan
7-8 Lk. Petungwulung, RT. 05 RW. 06,
Kelurahan Petungsari, Kecamatan Pan-
daan, Kabupaten Pasuruan
218 BDI PASURUAN PS BESAR JL. RAYA PASURUAN PERTOKOAN PS. JAWA TIMUR Kota Pasuruan
BESAR A 28-29, PASURUAN
219 BDI JOMBANG KH HASYIM JL. KH WAHID HASYIM 121, JOMBANG JAWA TIMUR Kab. Jombang
220 BDI MOJOKERTO JL. MOJOPAHIT NO. 282 KEL. MEN- JAWA TIMUR Kota Mojokerto
SUDIRMAN TIKAN KEC. PRAJURIT KULON KAB.
MOJOKERTO
221 BDI GRESIK KARTINI JL. R.A. KARTINI NO. 236/5 GRESIK JAWA TIMUR Kab. Gresik
61122
222 BDI SIDOARJO A YANI JL. A. YANI NO.7, SIDOARJO JAWA TIMUR Kab. Sidoarjo
223 BDI SURABAYA MAR- JL. RAYA MARGOMULYO NO. 9 BLOK AA JAWA TIMUR Kota Surabaya
GOMULYO NO. 10, KEL. BALONGSRI, KEC. TANDES,
KOTA SURABAYA JATIM
224 BDI SIDOARJO SEPANJANG JL. RAYA BEBEKAN 24 SEPANJANG JAWA TIMUR Kab. Sidoarjo
JATIM
225 BDI SURABAYA HR MU- JL. HR MUHAMMAD 86 C-D, SURABAYA JAWA TIMUR Kota Surabaya
HAMMAD
226 BDI SURABAYA WIYUNG Ruko Taman Pondok Indah Raya-Men- JAWA TIMUR Kota Surabaya
ganti No. A-29 Surabaya
227 BDI SURABAYA KAPAS JL. KAPAS KRAMPUNG NO. 106, SURA- JAWA TIMUR Kota Surabaya
KRAMPUNG BAYA
228 BDI SURABAYA MULYOSARI JL. RAYA MULYOSARI 134, PB 14 SURA- JAWA TIMUR Kota Surabaya
BAYA
229 BDI SURABAYA KLAMPIS JL. KLAMPIS JAYA NO.136 SURABAYA JAWA TIMUR Kota Surabaya
KLAMPIS
230 BDI SURABAYA DHARMA- JL.DHRAMAHUSADA NO.168 SURABAYA JAWA TIMUR Kota Surabaya
HUSADA
231 BDI MALANG KAWI JL. KAWI NO. 15, MALANG JAWA TIMUR Kota Malang
232 BDI MALANG SUTAN JL. SUTAN SYAHRIR NO.15 MALANG JAWA TIMUR Kota Malang
SYAHRIR
233 BDI SURABAYA DIPONE- JL. DIPONEGORO NO. 160, SURABAYA JAWA TIMUR Kota Surabaya
GORO
234 BDI SURABAYA KEDUNG- Jl. Kedungdoro No. 95 JAWA TIMUR Kota Surabaya
DORO 2
494
04 Pembahasan dan
Analisis Manajemen
Branches Offic

235 BDI SURABAYA DARMO JL. RAYA DARMO NO. 59, SURABAYA JAWA TIMUR Kota Surabaya
236 BDI SURABAYA JEMUR JL. JEMUR ANDAYANI 46 B-C, SURA- JAWA TIMUR Kota Surabaya
ANDAYANI BAYA
237 BDI SURABAYA MARGORE- JL.MARGOREJO INDAH NO.90 SURA- JAWA TIMUR Kota Surabaya
JO INDAH BAYA
238 BDI SURABAYA MAYJEN JL.MAYJEN SUNGKONO NO.75 SURA- JAWA TIMUR Kota Surabaya
SUNGKONO BAYA
239 BDI SURABAYA NGAGEL KOMP. PERTOKOAN MANYAR INDAH JAWA TIMUR Kota Surabaya
PLAZA KAV. A-3 , JL. NGAGEL JAYA
SELATAN’-SURABAYA
240 BDI SURABAYA COKLAT JL. COKLAT NO. 8, SURABAYA JAWA TIMUR Kota Surabaya
241 BDI SURABAYA KEMBANG JL.KEMBANG JEPUN NO.43 SURABAYA JAWA TIMUR Kota Surabaya
JEPUN
242 BDI SURABAYA PASAR TURI KOMP. SINAR GALAXY B-70 SURABAYA JAWA TIMUR Kota Surabaya
243 BDI SURABAYA RAJAWALI JL. RAJAWALI 51-B SURABAYA JAWA TIMUR Kota Surabaya
244 BDI SURABAYA PUCANG Jalan Pucang Anom Timur No 28I-28II JAWA TIMUR Kota Surabaya
ANOM Kelurahan Kertajaya, Kecamatan Gu-
beng Surabaya
245 BDI SURABAYA KERTAJAYA JL. KERTAJAYA NO. 141, SURABAYA JAWA TIMUR Kota Surabaya
IC
246 BDI PGB SURABAYA PAN- JL. PANGLIMA SUDRIMAN 11-17 SURA- JAWA TIMUR Kota Surabaya
GLIMA SUDIRMAN BAYA
247 BDI SURABAYA GUBERNUR JL. GUBERNUR SURYO NO.12, SURA- JAWA TIMUR Kota Surabaya
SURYO BAYA
248 BDS SURABAYA DIPONE- Jl. Diponegoro No. 31, Surabaya, Jawa JAWA TIMUR Kota Surabaya
GORO Timur 60241
249 BDI KUPANG SUMATERA JL. SUMATERA NO. 43, KUPANG, NTT NUSA TENGGARA Kota Kupang
TIMUR
250 BDI ATAMBUA SUDIRMAN JL. JEND. SUDIRMAN NO. 26, ATAMBUA NUSA TENGGARA Kab. Belu
NTT TIMUR
251 BDI BIMA SOEKARNO Jl. Ir Soekarno Hatta RT 008, RW 003, NUSA TENGGARA Kab. Bima
HATTA Kelurahan Taruga, Kecamatan Rasanae BARAT
Barat, Bima NTB
252 BDI MANGGARAI ADI JL. ADI SUCIPTO 88A, RUTENG, NTT NUSA TENGGARA Kab. Manggarai
SUCIPTO TIMUR
253 BDI SUMBAWA DIPONE- JL. DIPONEGORO NO. 26 KEL. BUGIS, NUSA TENGGARA Kab. Sumbawa
GORO KEC. SUMBAWA, KAB. SUMBAWA PROP. BARAT
NTB
254 BDI MAUMERE RAYA CEN- JL. RAYA CENTIS NO. 15 MAUMERE NUSA TENGGARA Kab. Sikka
TIS TIMUR
255 BDI ENDE SOEKARNO JL. SOEKARNO NO. 77, ENDE NTT NUSA TENGGARA Kab. Ende
TIMUR
256 BDI SINGARAJA A YANI JL. A. YANI NO. 46, SINGARAJA BALI Kab. Buleleng
257 BDI NEGARA NGURAH RAI JL. NGURAH RAI NO. 101, NEGARA BALI Kab. Jembrana
495
Branches Offic

258 BDI TABANAN GAJAH Jl. Gajah Mada No.9 Desa Delod Peken BALI Kab. Tabanan
MADA , Kecamatan Tabanan, Kabuaten Ta-
banan Propinsi Bali
259 BDI DENPASAR NUSA DUA Jl. By Pass Ngurah Rai, Depan Komplek BALI Kota Denpasar
Pertokoan Tragia - Nusa Dua, Bali
260 BDI GIANYAR DHARMA JL. DHARMA GIRI NO. 21, GIANYAR-BALI BALI Kab. Gianyar
GIRI IC
261 BDI KUTA LEGIAN JL. RAYA LEGIAN NO. 87 KUTA BALI Kab. Badung
262 BDI UBUD CAMPUAN JL. IDA BAGUS MANIK, BANJAR AM- BALI Kab. Gianyar
BENGAN, PELIATAN UBUD, DENPASAR
263 BDI DENPASAR DIPONE- JL. DIPONEGORO NO. 137 DENPASAR BALI Kota Denpasar
GORO
264 BDI Denpasar Mahendra- Jl. Mahendradata No. 29 Denpasar Bali BALI Kota Denpasar
data
265 BDI BADUNG GATOT SUB- JL. GATOT SUBROTO BARAT 354, BA- BALI Kab. Badung
ROTO BARAT DUNG
266 BDI BADUNG KEROBOKAN JL. RAYA KEROBOKAN, DESA BALI Kab. Badung
KEROBOKAN KELURAHAN BADUNG,
KEC. KUTA UTARA, BALI
267 BDI MATARAM PEJANGGIK JL. PEJANGGIK 117, MATARAM NTB NUSA TENGGARA Kota Mataram
BARAT
268 BDI DENPASAR HAYAM JL. HAYAM WURUK NO. 246, DENPASAR BALI Kota Denpasar
WURUK
269 BDI SWETA TEGUH FAISAL JL. SANDUBAYA NO 35. BERTAIS SWE- NUSA TENGGARA Kota Mataram
TA MATARAM BARAT
270 BDI DENPASAR GATOT JL. GATOT SUBROTO NO.79, DENPAS- BALI Kota Denpasar
SUBROTO AR
271 BDI DENPASAR GUNUNG JL. GUNUNG AGUNG NO. 1 A, DENPAS- BALI Kota Denpasar
AGUNG AR
272 BDI GUNUNG SITOLI DIPO- JL.DIPONEGORO NO.143 KEL..ILIR KEC. SUMATERA UTARA Kab. Nias
NEGORO GUNUNGSITOLI KAB NIAS KODE POS
22815
273 BDI TANJUNG PINANG POS JL. KETAPANG NO.49 TANJUNG KEPULAUAN RIAU Kota Tanjung
PINANG - KEP.RIAU Pinang
274 BDI RANTAU PRAPAT A JL. KH AHMAD DAHLAN NO.94, RAN- SUMATERA UTARA Kab. Labuhan
DAHLAN TAU PRAPAT - SUMATARA UTARA 21413 Batu
275 BDI SIBOLGA IMAM BON- JL. IMAM BONJOL NO.63, SIBOLGA- SUMATERA UTARA Kota Sibolga
JOL SUMATERA UTARA, 22522
276 BDI PADANG SIDEMPUAN JL. MERDEKA NO.22, PADANG SIDEM- SUMATERA UTARA Kota Padang
MERDEKA PUAN - SUMATERA UTARA - 22718 Sidempuan
277 BDI KARIMUN PRAMUKA JL. PRAMUKA NO. 69, TANJUNG BALAI KEPULAUAN RIAU Kab. Karimun
KARIMUN
278 BDI P.SIANTAR SUTOMO JL. SUTOMO NO. 5 D/E, PEMATANG SUMATERA UTARA Kota Pematang
SIANTAR 21117 Siantar
279 BDI TEBING TINGGI Jl. Jend.Sudirman No. 158 Kelurahan SUMATERA UTARA Kota Tebing
SUDIRMAN Badak Bejuang Kecamatan Rambutan Tinggi
Kota Tebing Tinggi Sumatera Utara
496
04 Pembahasan dan
Analisis Manajemen
Branches Offic

280 BDI TANJUNG BALAI JL. COKROAMINOTO 48 A, TJ. BALAI SUMATERA UTARA Kota Tanjung
COKROAMINOTO ASAHAN - SUMATERA UTARA 21312 Balai
281 BDI KISARAN IMAM BON- Jl Imam Bonjol No.145 - 147, Kisaran SUMATERA UTARA Kab. Asahan
JOL Timur, Sumatra Utara 21214
282 BDI MEDAN BINJAI JL. JEND. SUDIRMAN NO.60, BINJAI - SUMATERA UTARA Kota Binjai
SUMATERA UTARA KODE POS 20711
283 BDI STABAT ZAINAL ARIFIN JL. ZAINAL ARIFIN 774, STABAT KAB. SUMATERA UTARA Kab. Langkat
LANGKAT
284 BDI MEDAN TANJUNG JL. PEMUDA NO. 30, TANJUNGPURA - SUMATERA UTARA Kab. Langkat
PURA SUMATERA UTARA (20853).
285 BDI TANJUNG MORAWA IC Jl. Irian No. 111 Tanjung Morawa Medan SUMATERA UTARA Kab. Deli Serdang
286 BDI DELI SERDANG SU- JL . SUTOMO NO. 85 , LUNUK PAKAM, SUMATERA UTARA Kab. Deli Serdang
TOMO KAB. DELI SERDANG
287 BDI MEDAN YOS SUDARSO JL YOS SUDARSO 152D, MEDAN SUMATERA UTARA Kota Medan
288 BDI BATAM BOTANIA Komp Pertokoan Botania Garden Blok KEPULAUAN RIAU Kota Batam
A No 02 Batam Center
289 BDI MEDAN CITRA GAR- JL. CITRA GARDEN BLOK B1-20, MED- SUMATERA UTARA Kota Medan
DEN AN
290 BDI MEDAN KRAKATAU JL.KRAKATAU NO.127 - 127A, MEDAN SUMATERA UTARA Kota Medan
291 BDI MEDAN KATAMSO RUKO KAMPUNG BARU KATAMSO, SUMATERA UTARA Kota Medan
JL.KATAMSO NO.731 A MEDAN
292 BDI BATAM PALM SPRING KOMPLEK PALM SPRING BATAM CEN- KEPULAUAN RIAU Kota Batam
TER BLOK D1 NO. 8 DAN 9
293 BDI BATAM RADEN PATAH JL. RADEN PATAH NO. 15 A, LUBUK KEPULAUAN RIAU Kota Batam
BAJA - BATAM. KODE POS 29444
294 BDI MEDAN PUSAT PASAR JL. PUSAT PASAR NO.P 187, MEDAN - SUMATERA UTARA Kota Medan
SUMATERA UTARA
295 BDI BATAM NAGOYA BANK DUTA BUILDING NAGOYA KEPULAUAN RIAU Kota Batam
JL.IMAM BONJOL NAGOYA BATAM
KODE POS 29444
296 BDI MEDAN DIPONEGORO JL. P. DIPONEGORO NO. 35, MEDAN - SUMATERA UTARA Kota Medan
SUMATERA UTARA 20152
297 BDI MEDAN TOMANG ELOK KOMP.TOMANG ELOK BLOK BB NO.98,- SUMATERA UTARA Kota Medan
SEIKAMBING,MEDAN
298 BDI MEDAN A. YANI JL. AHMAD YANI NO. 74, MEDAN - SU- SUMATERA UTARA Kota Medan
MATERA UTARA 20111
299 BDI MEDAN ASIA MEGA RUKO MEDAN ASIA JL.ASIA INDAH SUMATERA UTARA Kota Medan
MAS BLOK C NO.10-11 KEL. SUKARAMAI II,
KEC. MEDAN AREA, MEDAN
300 BDI MEDAN SETIA BUDI JL.SETIABUDI NO.4 MEDAN SUMATERA UTARA Kota Medan
301 BDI MEDAN PUTRI HIJAU JL. PUTRI HIJAU NO. 2, MEDAN - SU- SUMATERA UTARA Kota Medan
MATERA UTARA 20111
302 BDI MEDAN PETISAH Jl. Nibung Utama No.3-4, Kelurahan SUMATERA UTARA Kota Medan
Petisah Tengah, Kecamatan Medan
Barat, Medan, Propinsi Sumatera Utara.
497
Branches Offic

303 BDI MEDAN ISKANDAR JL. ISKANDAR MUDA NO.226-230, SUMATERA UTARA Kota Medan
MUDA MEDAN - SUMATERA UTARA -20112
304 BDI MEDAN RAHMADSYAH JL. RAHMADSYAH NO. 22, MEDAN - SUMATERA UTARA Kota Medan
SUMATERA UTARA
305 BDI MEDAN PEMUDA JL. PEMUDA NO. 5 A-D, MEDAN - SU- SUMATERA UTARA Kota Medan
MATERA UTARA 20151
306 BDI MEDAN PANDU JL. PANDU 41/70, MEDAN - SUMATERA SUMATERA UTARA Kota Medan
UTARA 20212
307 BDI MEDAN THAMRIN JL.THAMRIN NO.93-95, MEDAN - SU- SUMATERA UTARA Kota Medan
MATERA UTARA 20214
308 BDI MEDAN ASIA JL. ASIA 184C, MEDAN SUMATERA UTARA Kota Medan
309 BDS ACEH JL. SRI RATU SAFIATUDDIN NO.54, ACEH Kota Banda Aceh
NANGGROE ACEH DARUSSALAM, 23122
310 BDS LANGSA TEUKU UMAR JL. TEUKU UMAR NO.114, LANGSA - ACEH Kota Langsa
ACEH TIMUR
311 BDS LHOKSUMAWE PERD- JL. PERDAGANGAN NO. 47-49, LHOK- ACEH Kota Lhokseu-
AGANGAN SEUMAWE - ACEH UTARA mawe
312 BDS BIREUEN KOL. HU- JL. KOLONEL HUSEIN YUSUF NO. 1, ACEH Kab. Aceh
SEIN YUSUF BIREUN Jeumpa/Bireuen
313 BDI INDRAGIRI HILIR JL.M.BOYA RT/RW.01/11,KEL. TEMBILA- RIAU Kab. Indragiri
M.BOYA HAN KAB. INDRAGIRI HILIR Hilir
314 BDI MUARA BUNGO LTS JL. LINTAS SUMATERA KM 1 NO. 26 JAMBI Kab. Bungo
SUMATERA MUARA BUNGO JAMBI 37212
315 BDI PANGKAL PINANG JL. MASJID JAMIK NO. 27, PANGKAL BANGKA BELITUNG Kota Pangkal
SUDIRMAN PINANG 33132 Pinang
316 BDI BENGKULU SUPRAPTO JL. S. PARMAN NO. 35, BENGKULU BENGKULU Kota Bengkulu
38223
317 BDI LUBUK LINGGAU YOS Jl. Yos Sudarso No.103, RT.001, Kel. SUMATERA SELATAN Kota Lubukling-
SUDARSO Cereme Taba, Kec. Lubuklinggau Timur gau
II, Provinsi Sumatera Selatan
318 BDI JAMBI KUALA TUNG- JL. NELAYAN NO. 5 KUALA TUNGKAL JAMBI Kab. Tanjung
KAL 36512 Jabung Barat
319 BDI BATU RAJA AKMAL JL. AKMAL NO.75, BATU RAJA SUMSEL SUMATERA SELATAN Kab. Ogan Kom-
32116 ering Ulu
320 BDI BAGAN BATU JL.JEND SUDIRMAN NO.761 BAGAN RIAU Kab. Rokan Hilir
SUDIRMAN BATU
321 BDI PRABUMULIH Jl. Jendral Sudirman N0.20 RT 004/ SUMATERA SELATAN Kota Prabumulih
SUDIRMAN RW 002, Kel. Tugu Kecil, Kec. Prabu-
mulih Timur, Sumsel 31111
322 BDI DURI SUDIRMAN JL. SUDIRMAN NO. 151-152 DURI RIAU Kab. Bengkalis
28884
323 BDI DUMAI SUKAJADI JL. DIPONEGORO NO. 81 A-B DUMAI, RIAU Kota Dumai
28812
324 BDI BUKITTINGGI A YANI JL. A. YANI NO.116F, BUKIT TINGGI, SUMATERA BARAT Kota Bukittinggi
SUMBAR
325 BDI PAYAKUMBUH JL. SOEKARNO-HATTA NO. 80 PAYA- SUMATERA BARAT Kota Payakum-
SOEKARNO HATTA KUMBUH KODE POS.26222 buh
498
04 Pembahasan dan
Analisis Manajemen
Branches Offic

326 BDI PEKANBARU TUANKU JL.TUANKU TAMBUSAI NO.12 A,PEKAN- RIAU Kota Pekanbaru
TAMBUSAI BARU
327 BDI PALEMBANG BASUKI JL. BASUKI RAHMAT NO.897 C-D SUMATERA SELATAN Kota Palembang
RAHMAT PALEMBANG
328 BDI JAMBI KOTA INDAH JL. GATOT SUBROTO KOMP. KOTA IN- JAMBI Kota Jambi
DAH BLOK A-B NO.1 JAMBI, KODE POS
36134
329 BDI JAMBI SUTOMO JL. DR. SUTOMO NO. 40, JAMBI 36113 JAMBI Kota Jambi
330 BDI PEKANBARU HR SUB- JL.HR SUBRANTAS, KOMP.METROPOL- RIAU Kota Pekanbaru
RANTAS ITAN CITY BLOK A-6 PANAM, PEKAN-
BARU
331 BDI PEKANBARU RIAU JL. GRIYA, RUKO NO. 1 & 2, PEKANBA- RIAU Kota Pekanbaru
RU, TAMPAN
332 BDI PADANG BUNDO JL. BUNDO KANDUNG NO. 23 , KODE SUMATERA BARAT Kota Padang
KANDUNG POS 25118
333 BDI PADANG SUDIRMAN JL. JEND. SUDIRMAN NO. 40, PADANG SUMATERA BARAT Kota Padang
25128
334 BDI PALEMBANG JL. JEND. SUDIRMAN NO. 440, PALEM- SUMATERA SELATAN Kota Palembang
SUDIRMAN BANG 30125
335 BDI PEKANBARU PROF JL. PROF. M. YAMIN NO. 19 B-C PEKAN- RIAU Kota Pekanbaru
YAMIN BARU 28113
336 BDI PEKANBARU WAHID JL. W HASYIM NO. 2 PEKANBARU 28111 RIAU Kota Pekanbaru
HASYIM
337 BDI PEKANBARU SIMPANG JL. M. YATIM NO. 65 RT/RW 003/001 RIAU Kota Pekanbaru
PASAR BAWAH KEL. KAMPUNG DALAM, KEC. SENAPE-
LAN, PEKANBARU, PROV RIAU
338 BDI PALEMBANG MESJID JL. MESJID LAMA NO. 170 PALEMBANG. SUMATERA SELATAN Kota Palembang
LAMA 30125
339 BDI KETAPANG MERDEKA JL. MERDEKA NO. 181, KETAPANG, KALIMANTAN BARAT Kab. Ketapang
KALIMANTAN BARAT
340 BDI PANGKALAN BUN Jalan Pangeran Antasari No. 135, RT/ KALIMANTAN TEN- Kab. Kotawar-
ANTASARI RW 01/01 Desa Kampung Raja, Keca- GAH ingin Barat
matan Arut Selatan, Kabupaten Ko-
tawaringin Barat, Propinsi Kalimantan
Tengah
341 BDI SAMPIT MAYJEN SU- JL. MAYJEND. SUTOYO NO 86, SAMPIT KALIMANTAN TEN- Kab. Kotawar-
TOYO GAH ingin Timur
342 BDI PALANGKARAYA A YANI JL. A. YANI NO. 82, PALANGKARAYA KALIMANTAN TEN- Kota Pa-
GAH langkaraya
343 BDI TANAH GROGOT SU- JL. R.A KARTINI NO. 42 TANAH GRO- KALIMANTAN TIMUR Kab. Pasir
PRAPTO GOT
344 BDI TARAKAN YOS SU- Jl. Yos Sudarso No.8A – 8B, Kelurahan KALIMANTAN TIMUR Kota Tarakan
DARSO Karang Rejo,
Kecamatan Tarakan Barat, Kalimantan
Utara, 77112
345 BDI NUNUKAN PATIMURA JL. PATTIMURA RT.02, KEL. NUNUKAN KALIMANTAN TIMUR Kab. Nunukan
TIMUR, KEC. NUNUKAN, KALIMANTAN
TIMUR
499
Branches Offic

346 BDI SANGGAU A YANI JL. AHMAD YANI NO. 99 KABUPATEN KALIMANTAN BARAT Kab. Sanggau
SANGGAU KALIMANTAN BARAT
347 BDI TANJUNG REDEP AKB JL. AKB SANIPA NO. 669 TJ. REDEB KALIMANTAN TIMUR Kab. Berau
SANIPA
348 BDI BONTANG A. YANI Jl. Jend Ahmad Yani No. 2 Rt. 09 Bon- KALIMANTAN TIMUR Kota Bontang
tang Utara Kalimantan Timu
349 BDI TANJUNG SELOR SKIP JL. SKIP II KAVLING 20 TJ. SELOR KALIMANTAN TIMUR Kab. Bulungan
II
350 BDI SANGATTA YOS SU- Jl. Yos Sudarso II RT. 14 Sangatta Utara KALIMANTAN TIMUR Kab. Kutai Timur
DARSO Kec. Sangatta, Kab Kutai Timur Prop
Kalimantan Timur
351 BDI MELAWI JUANG JL. JUANG BLOK H NO. 3 DAN 4, NAN- KALIMANTAN BARAT Kab. Melawi
GA PINOH, KAB. MELAWI
352 BDI SINTANG MT HARYONO JL MT. HARYONO NO. 5, SINTANG KALIMANTAN BARAT Kab. Sintang
353 BDI KOTABARU PUTRI JL. PUTRI CIPTASARI 8-10 KOTA BARU KALIMANTAN SE- Kab. Kota Baru
CIPTASARI LATAN
354 BDI KOTABARU BATU LICIN JL. RAYA BATU LICIN NO. 2-3 BATU KALIMANTAN SE- Kab. Kota Baru
LICIN, KOTABARU LATAN
355 BDI TENGGARONG MAD- JL. KH. AHMAD MUKHSIN NO. 19 RT IV KALIMANTAN TIMUR Kab. Kutai Kar-
UNINGRAT KEL. TIMBAU, KEC. TENGGARONG KAB. tanegara
KUTAI KATANEGARA, PROVINSI KALI-
MANTAN TIMUR
356 BDI PONTIANAK SEIPINYUH JL. JURUSAN PONTIANAK, SUNGAI KALIMANTAN BARAT Kab. Pontianak
PINYUH (DEPAN SPBU SEI PINYUH),
PONTIANAK
357 BDI BANJAR BARU A. JL. A. YANI KM 34, NO 31 BANJARBARU KALIMANTAN SE- Kota Banjarbaru
YANI LATAN
358 BDI SINGKAWANG NIAGA JL. NIAGA NO. 5-7, SINGKAWANG KALIMANTAN BARAT Kota Singkawang
359 BDI PEMANGKAT M HAM- JL. MUH. HAMBAL NO. 48, PEMANGKAT KALIMANTAN BARAT Kab. Sambas
BAL
360 BDI SIANTAN KHATULIS- JL. KHATULISTIWA NO. H- 99, SIANTAN KALIMANTAN BARAT Kab. Pontianak
TIWA
361 BDI PONTIANAK SUNGAI JL. SUNGAI RAYA DALAM NO. C. KEL. KALIMANTAN BARAT Kota Pontianak
RAYA DALAM BANGKA BELITUNG DARAT, KEC. PON-
TIANAK TENGGARA, KOTA PONTIANAK
KAL BAR
362 BDI BALIKPAPAN PANDAN- Jl. Pandansari No .2 Rt 15 Balikpapan KALIMANTAN TIMUR Kota Balikpapan
SARI
363 BDI BANJARMASIN A YANI JL. A.YANI KM. 2.5 NO. 81, BANJARMA- KALIMANTAN SE- Kota Banjarmasin
SIN LATAN
364 BDI BALIKPAPAN JL. JEND.SUDIRMAN NO. 54 BALIKPA- KALIMANTAN TIMUR Kota Balikpapan
SUDIRMAN PAN
365 BDI BALIKPAPAN A YANI JL. JEND. A. YANI NO.8 RT.002 KARANG KALIMANTAN TIMUR Kota Balikpapan
JATI, BALIKPAPAN
366 BDI SAMARINDA PAHLA- JL. PAHLAWAN RT.032, KEL. DADI MU- KALIMANTAN TIMUR Kota Samarinda
WAN LYA KEC. SAMARINDA ULU SAMARINDA
500
04 Pembahasan dan
Analisis Manajemen
Branches Offic

367 BDI PONTIANAK KH. WA- JL. KH WAHID HASYIM NO. 24 - 26, KALIMANTAN BARAT Kota Pontianak
HID HASYIM PONTIANAK KALIMANTAN BARAT
368 BDI SAMARINDA CITRA JL. MULAWARMAN NO. 27 RT 28, KEL. KALIMANTAN TIMUR Kota Samarinda
NIAGA PELABUHAN, KEC. SAMARINDA ILIR,
KOTAMADYA SAMARINA, PROVINSI
KALTIM
369 BDI BANJARMASIN Jl Pangeran Antasari No. 95, Banjar- KALIMANTAN SE- Kota Banjarmasin
PANGERAN ANTASARI masin LATAN
370 BDI PONTIANAK GAJAH JL. GAJAH MADA NO.132 PONTIANAK KALIMANTAN BARAT Kota Pontianak
MADA KAL-BAR
371 BDI SAMARINDA JL. JEND. SUDIRMAN NO. 31 SAMA- KALIMANTAN TIMUR Kota Samarinda
SUDIRMAN RINDA
372 BDI BANJARMASIN LAM- JL. LAMBUNG MANGKURAT NO. 50, KALIMANTAN SE- Kota Banjarmasin
BUNG MANGKURAT BANJARMASIN LATAN
373 BDI PONTIANAK TANJUNG Jl. Tanjung Pura No. 102, Pontianak KALIMANTAN BARAT Kota Pontianak
PURA
374 BDI PONTIANAK ST MU- JL. ST. MUHAMMAD NO. 173, PONTI- KALIMANTAN BARAT Kota Pontianak
HAMMAD ANAK
375 BDI MERAUKE MANDALA JL.RAYA MANDALA NO.71, MERAUKE PAPUA Kab. Merauke
376 BDI MANOKWARI Y SUDAR- JL.YOS SUDARSO NO.41 E/F, MANOK- PAPUA BARAT Kab. Manokwari
SO WARI PAPUA
377 BDI SORONG A YANI JL. JENDRAL AHMAD YANI, KEL REMU PAPUA BARAT Kota Sorong
UTARA, KEC. SORONG, PAPUA BARAT
378 BDI TOLI TOLI USMAN Jl. Usman Binol RW VII, Kecamatan SULAWESI TENGAH Kab. Toli-Toli
BINOL Baolan, Kelurahan Baru, Kabupaten
Tolitoli, Provinsi Sulawesi Tengah
379 BDI PALU HASANUDIN JL.ST.HASANUDIN NO.27, PALU - SU- SULAWESI TENGAH Kota Palu
LAWESI TENGAH
380 BDI NABIRE YOS SUDARSO JL.YOS SUDARSO NO.12, NABIRE IRIAN PAPUA Kab. Nabire
JAYA
381 BDI TIMIKA YOS SUDARSO JL. YOS SUDARSO NO. 12, TIMIKA, PAPUA Kab. Mimika
PAPUA
382 BDI TERNATE PAHLAWAN JL. BOULEVARD RUKO JATILAND KEL. MALUKU UTARA Kota Ternate
REVOLUSI GAMALAMA, KEC. KOTA, TERNATE
TENGAH
383 BDI LUWUK BANGGAI JL.A. YANI NO.104, LUWUK BANGGAI - SULAWESI TENGAH Kab. Banggai
SULAWESI TENGAH
384 BDI BIAK IMAM BONJOL JL.IMAM BONJOL NO.34, BIAK PAPUA Kab. Biak Numfor
385 BDI GORONTALO A YANI JL.A.YANI NO.58, GORONTALO GORONTALO Kota Gorontalo
386 BDI KENDARI SAM RATU- JL. SAM RATULANGI NO 183 - 185, SULAWESI TENG- Kota Kendari
LANGI MANDONGA, KENDARI GARA
387 BDI BAU BAU YOS SUDAR- JL. YOS SUDARSO NO. 17, BAU-BAU SULAWESI TENG- Kota Bau-Bau
SO GARA
388 BDI KOTAMOBAGU KARTINI JL.KARTINI NO.203, KOTAMOBAGU - SULAWESI UTARA Kota Kotamobagu
SULAWESI UTARA
501
Branches Offic

389 BDI BULUKUMBA SAM JL. SAM RATULANGI KEL CAILE KEC. SULAWESI SELATAN Kab. Bulukumba
RATULANGI UJUNG BULU KAB, BULUKUMBA, SU-
LAWESI SELATAN
390 BDI AMBON DIPONEGORO JL.DIPONEGORO NO.34, AMBON MALUKU Kota Ambon
391 BDI MASOHI A.SOULISSA Jl. Abdullah Soulissa No. 111 Masohi, MALUKU Kab. Maluku
IC Kabupaten Maluku Tengah Tengah
392 BDI BONE AGUS SALIM JL.AGUS SALIM NO.1, BONE SULAWESI SELATAN Kab. Bone
393 BDI PALOPO RAMBUTAN RUKO TERMINAL BLOK E NO.1-2 JL. SULAWESI SELATAN Kota Palopo
RAMBUTAN KOTAMADYA PALOPO
394 BDI WAJO SENGKANG JL.RA.KARTINI NO.124 - 126, WAJO SULAWESI SELATAN Kab. Wajo
395 BDI BITUNG YOS SUDARSO Jl. Yos Sudarso No. 76, Kel. Bitung SULAWESI UTARA Kota Bitung
Tengah, Kota Bitung, Provinsi Sulawesi
Utara
396 BDI PINRANG A MAKASAU JL.ANDI MAKASAU NO.34, PINRANG SULAWESI SELATAN Kab. Pinrang
397 BDI PARE PARE HASANU- JL.ST.HASANUDIN NO.50, PARE-PARE SULAWESI SELATAN Kota Pare-Pare
DIN
398 BDI SIDRAP SUDIRMAN JL.JEND SUDIRMAN NO. 48, SIDRAP SULAWESI SELATAN Kab. Sidenreng
Rappang
399 BDI SENTANI KEMIRI JL. RAYA KEMIRI NO.541, SENTANI, PAPUA Kota Jayapura
JAYAPURA
400 BDI RANTEPAO A YANI JL. DIPONEGORO NO.33, RANTEPAO, SULAWESI SELATAN Kab. Tana Toraja
TANA TORAJA, SULAWESI SELATAN
401 BDI MINAHASA TOMOHON JL.RAYA TOMOHON NO.40A, TOMOHON, SULAWESI UTARA Kota. Tomohon
MINAHASA - SULAWESI UTARA
402 BDI MAKALE MERDEKA JL.MERDEKA NO.30, MAKALE SULAWESI SELATAN Kab. Tana Toraja
403 BDI JAYAPURA A YANI JL.A.YANI NO.9,JAYAPURA PAPUA Kota Jayapura
404 BDI ABEPURA RAYA ABE RUKO ABEPURA, JL. RAYA ABEPURA, PAPUA Kota Jayapura
KOTARAJA
405 BDI SUNGGUMINASA W Jalan KH Wahid Hasyim No 181A RT/RW SULAWESI SELATAN Kab. Gowa
HASYIM 002/03, Sungguminasa, Somba Opu,
Gowa
406 BDI MAKASSAR PANAKU- JL.BOULEVARD RUKO JASPER II/24-25, SULAWESI SELATAN Kota Makassar
KANG MAKASSAR
407 BDI MANADO RANOTANA JL.S.RATULANGI NO.399, RANOTANA, SULAWESI UTARA Kota Menado
KAROMBASAN IC MANADO - SULAWESI UTARA
408 BDI MAKASSAR YOS SU- Jl Yos Sudarso No. 302, Kelurahan SULAWESI SELATAN Kota Makassar
DARSO Tabaringan, Kecamatan Ujung Tanah,
Makassar Sulawesi Selatan
409 BDI MANADO SUTOMO JL.DR.SUTOMO NO.62, MANADO - SU- SULAWESI UTARA Kota Menado
LAWESI UTARA
410 BDI MANADO TOAR JL. TOAR NO. 17, MANADO - SULAWESI SULAWESI UTARA Kota Menado
UTARA
411 BDI MAKASSAR LATIMO- JL.G.LATIMOJONG NO.22, MAKASAR SULAWESI SELATAN Kota Makassar
JONG
412 BDI MAKASSAR VETERAN JL. VETERAN SELATAN NO. 455C - 455 SULAWESI SELATAN Kota Makassar
SELATAN D, MAKASSAR
413 BDI MAKASSAR SULAWESI KOMP. PASAR BUTUNG RUKO BLOK S SULAWESI SELATAN Kota Makassar
NO. 10-11. JL. SULAWESI
414 BDI MAKASSAR CEN- JL.CENDRAWASIH NO.240, MAKASAR SULAWESI SELATAN Kota Makassar
DRAWASIH
415 BDI MAKASSAR A YANI JL.A.YANI NO.11- 13, MAKASSAR SULAWESI SELATAN Kota Makassar
502
04 Pembahasan dan
Analisis Manajemen
Branches Offic

416 BDI MAKASSAR SLAMET JL. SLAMET RIYADI NO. 1, MAKASSAR SULAWESI SELATAN Kota Makassar
RIYADI
417 KCS BANDUNG-MERDEKA Jl. Merdeka No. 40 Bandung Jawa JAWA BARAT Kota Bandung
Barat 40117
418 KCS SOLO-SLAMET RIYADI Jl. Kapten Tendean RT.003/02, Kel. Nu- JAWA TENGAH Kota Surakarta/
sukan, Kec. Banjarsari, Kota Solo Solo
419 KCS DENPASAR-GUNUNG JL. GUNUNG AGUNG NO. 1 A, DENPAS- BALI Kota Denpasar
AGUNG AR
420 KCS MEDAN-DIPONEGORO Jl.P.Diponegoro No.35, Kelurahan Ma- SUMATERA UTARA Kota Medan
dras Hulu, Kecamatan Medan Polonia,
Kabupaten Medan, Sumatera Utara
20152
421 KCS PALEMBANG Jl. Jend. Sudirman No. 440, Palembang SUMATERA SELATAN Kota Palembang
SUDIRMAN
422 KCS MARTAPURA Jl A Yani Km 40 No 6 Martapura Kali- KALIMANTAN SE- Kota Banjarbaru
mantan Selatan LATAN
423 KCS MAKASSAR- A.YANI Jl. A. Yani No. 11 - 13, Makassar SULAWESI SELATAN Kota Makassar
503
PURSUANT TO CIRCULAR LETTER OF
FINANCIAL SERVICES AUTHORITY
THE REPUBLIC OF INDONESIA NO.
16/SEOJK.04/2021 REGARDING THE
FORMAT AND CONTENTS OF THE
ANNUAL REPORT
OF ISSUERS OR PUBLIC COMPANIES
The Sustainability Report is an integral part of

the Annual Report, however can be presented
separately from the Annual Report.
Referring to the above, Danamon publishes a

separate Sustainability Report of fiscal year 2021.
FINANCIAL
STATEMENTS
PT Bank Danamon Indonesia Tbk

dan Entitas Anak/and Subsidiaries
Laporan keuangan konsolidasian

Tanggal 31 Desember 2021
dan untuk tahun yang berakhir pada tanggal tersebut
beserta laporan auditor independen/
Consolidated financial statements
As of 31 December 2021
and for the year then ended
with independent auditors’ report
506
507
508
509
510
511
The original consolidated financial statements included herein are in the

Indonesian language.
PT BANK DANAMON INDONESIA Tbk PT BANK DANAMON INDONESIA Tbk

DAN ENTITAS ANAK AND SUBSIDIARIES
LAPORAN POSISI KEUANGAN KONSOLIDASIAN CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
Pada Tanggal 31 Desember 2021 dan 2020 As of 31 December 2021 and 2020
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
Catatan/
Notes 2021 2020
ASET ASSETS
Kas 2b,2f,4 2.789.555 2.838.127 Cash
2b,2f, Current accounts with Bank
Giro pada Bank Indonesia 2h,5 3.060.014 2.185.998 Indonesia
Giro pada bank lain,
setelah dikurangi kerugian kredit Current accounts with other banks,
ekspektasian sebesar Rp1.589 net of expected credit losses of
pada tanggal 31 Desember 2021 2b,2h, Rp1,589 as of 31 December 2021
(2020: Rp1.514) 2o,6 (2020: Rp1,514)
- Pihak berelasi 2ah,47 176.550 5.208 Related parties -
- Pihak ketiga 2.801.084 4.411.865 Third parties -
Penempatan pada bank lain dan Bank
Indonesia, setelah dikurangi Placements with other banks and
kerugian kredit ekspektasian Bank Indonesia,
sebesar Rp23 pada tanggal net of expected credit losses of
31 Desember 2021 2b,2f,2i, Rp23 as of 31 December 2021
(2020: Rp512) 2o,7 9.888.484 7.303.551 (2020: Rp512)
Efek-efek,
setelah dikurangi kerugian kredit Marketable securities,
pada tanggal 31 Desember 2021 2f,2j, Rp19,689 of 31 December 2021
(2020: Rp11.840) 2o,8 5.514.043 4.689.271 (2020: Rp11,840)
Obligasi Pemerintah 2f,2j,15 30.337.737 25.534.635 Government Bonds
Efek yang dibeli dengan janji Securities purchased under
dijual kembali 2f,2k,9 3.308.308 12.126.419 resale agreements
Tagihan derivatif 2f,2l,10 187.297 362.482 Derivative receivables
Pinjaman yang diberikan,
setelah dikurangi kerugian kredit Loans,
ekspektasian sebesar net of expected credit losses of
Rp6.126.463 pada tanggal Rp6,126,463 as of
31 Desember 2021 2f,2m,2o, 31 December 2021
(2020: Rp5.454.977) 11 (2020: Rp5,454,977)
Piutang pembiayaan konsumen, Consumer financing receivables,
setelah dikurangi kerugian kredit net of expected credit losses of
ekspektasian sebesar Rp1.364.566 Rp1,364,566 as of
pada tanggal 31 Desember 2021 2f,2o,2q, 31 December 2021
(2020: Rp1.911.216) 12 19.958.199 22.605.362 (2020: Rp1,911,216)
Piutang sewa pembiayaan,
setelah dikurangi kerugian kredit Finance lease receivables,
pada tanggal 31 Desember 2021 2f,2o,2r, Rp11,707 as of 31 December 2021
(2020: Rp5.747) 13 280.613 246.644 (2020: Rp5,747)
Dipindahkan 178.267.845 186.246.580 Carried Forward
Catatan atas laporan keuangan konsolidasian terlampir merupakan bagian yang The accompanying notes to the consolidated financial statements form an
tidak terpisahkan dari laporan keuangan konsolidasian secara keseluruhan. integral part of these consolidated financial statements taken as a whole.
LAMPIRAN – 1/1 – SCHEDULE
512

Catatan/
Notes 2021 2020
Pindahan 178.267.845 186.246.580 Carried Forward

Tagihan akseptasi
setelah dikurangi kerugian kredit Acceptance receivables
pada tanggal 31 Desember 2021 Rp2,620 as of 31 December 2021
(2020: Rp5.104) 2f,2o,2v,14 2.058.574 1.592.400 (2020: Rp5,104)
Pajak dibayar dimuka 2ac,27a 599.144 676.276 Prepaid taxes
Investasi dalam saham 2f,2n,16 82.078 107.213 Investments in shares
Investasi pada entitas asosiasi 2d,20 949.009 924.518 Investment in associate
Aset takberwujud, Intangible assets,
setelah dikurangi akumulasi net of accumulated amortization
amortisasi sebesar Rp2.718.078 of Rp2,718,078 as of
pada tanggal 31 Desember 2021 31 December 2021
(2020: Rp2.523.107) 2p,2s,17 1.699.430 1.586.670 (2020: Rp2,523,107)
Aset tetap dan Aset hak guna,
setelah dikurangi akumulasi Fixed assets and Right-of-use assets,
penyusutan sebesar Rp3.407.504 net of accumulated depreciation
pada tanggal 31 Desember 2021 of Rp3,407,504 of 31 December 2021
(2020: Rp3.273.368) 2p,2t,18 1.895.474 2.105.691 (2020: Rp3,273,368)
Aset pajak tangguhan - neto 2ac,27d 2.875.122 2.954.643 Deferred tax assets - net
Beban dibayar dimuka dan
aset lain-lain, setelah
dikurangi kerugian kredit Prepayments and other assets,
pada tanggal 31 Desember 2021 2c,2f,2o,2p, Rp290,142 as of 31 December 2021
(2020: Rp235.794) 2u,19 (2020: Rp235,794)
JUMLAH ASET 192.239.698 200.890.068 TOTAL ASSETS
513


Catatan/
Notes 2021 2020
LIABILITAS DAN EKUITAS LIABILITIES AND EQUITY
LIABILITAS LIABILITIES
Simpanan nasabah 2f,2w,21 Deposits from customers
Simpanan dari bank lain 2f,2w,22 Deposits from other banks
Utang akseptasi 2f,2v,23 Acceptance payables
Utang Obligasi 2f,2aa,24 Bonds payable
Sukuk Mudharabah 2f,2ab,25 402.000 478.000 Mudharabah bonds
Pinjaman yang diterima 2f,26 Borrowings
- Pihak berelasi 2ah,47 666.667 - Related parties -
Utang pajak 2ac,27b 212.184 300.857 Taxes payable
Liabilitas derivatif 2f,2l,10 Derivative liabilities
- Pihak berelasi 2ah,47 - 25 Related parties -
- Pihak ketiga 277.212 674.215 Third parties -
Pinjaman Subordinasi 2f,2ah,2ai,28,47 25.000 25.000 Subordinated loan
Beban yang masih harus 2c,2f
dibayar dan liabilitas lain-lain 2ad,29 Accruals and other liabilities
- Pihak berelasi 2ah,47 1.484.194 1.558.835 Related parties -
JUMLAH LIABILITAS 147.156.640 157.314.569 TOTAL LIABILITIES
514

Catatan/
Notes 2021 2020
EKUITAS EQUITY
Ekuitas yang dapat diatribusikan Equity attributable to equity
kepada pemilik entitas induk holders of the parent entity
Modal saham - nilai nominal sebesar Share capital - par value per share
Rp50.000 (nilai penuh) per saham of Rp50,000 (full amount) for
untuk seri A dan Rp500 (nilai penuh) A series shares and Rp500 (full
per saham untuk seri B amount) for B series shares
Modal dasar - 22.400.000 saham Authorized - 22,400,000 A series
seri A dan 17.760.000.000 shares and 17,760,000,000
saham seri B B series shares
Modal ditempatkan dan disetor Issued and fully paid -
penuh - 22.400.000 saham seri A 22,400,000 A series shares and
dan 9.751.152.870 saham seri B 30 5.995.577 5.995.577 9,751,152,870 B series shares
Tambahan modal disetor 2af,31 7.985.971 7.985.971 Additional paid-up capital
Modal disetor lainnya 189 189 Other paid-up capital
Komponen ekuitas lainnya 2d,2j,2l 434.507 442.708 Other equity components
Saldo laba Retained earnings
- Sudah ditentukan penggunaannya 33 480.094 470.018 Appropriated -
- Belum ditentukan penggunaannya 2ad 29.642.769 28.213.350 Unappropriated -
Jumlah saldo laba 30.122.863 28.683.368 Total retained earnings
44.539.107 43.107.813
Kepentingan non-pengendali 2d,48 543.951 467.686 Non-controlling interests
JUMLAH EKUITAS 45.083.058 43.575.499 TOTAL EQUITY
JUMLAH LIABILITAS DAN TOTAL LIABILITIES AND

EKUITAS 192.239.698 200.890.068 EQUITY
515

LAPORAN LABA RUGI DAN PENGHASILAN CONSOLIDATED STATEMENTS OF PROFIT OR LOSS
KOMPREHENSIF LAIN KONSOLIDASIAN AND OTHER COMPREHENSIVE INCOME
Untuk Tahun-tahun yang Berakhir pada For the Years Ended
Tanggal 31 Desember 2021 dan 2020 31 December 2021 and 2020
Catatan/
Notes 2021 2020
PENDAPATAN DAN BEBAN OPERATING INCOME AND

OPERASIONAL EXPENSES
Pendapatan bunga 2x,2ah,34,47 17.749.004 20.087.555 Interest income
Beban bunga 2x,2ah,35,47 (4.001.782) (6.363.892) Interest expense
Pendapatan bunga neto 13.747.222 13.723.663 Net interest income

PENDAPATAN OPERASIONAL
LAINNYA OTHER OPERATING INCOME
Pendapatan provisi dan komisi 2y 1.253.117 1.176.753 Fees and commission income
Imbalan jasa lain 2y, 37,47 2.085.241 1.979.782 Other fees
(Kerugian)/keuntungan dari
perubahan nilai wajar atas
instrumen keuangan yang diukur (Losses)/gains from changes
pada nilai wajar melalui laba rugi 2j,2l,2z,8, in fair value of financial instruments
- neto 10,15a,38 (178.715) 171.859 at fair value through profit or loss - net
Keuntungan yang telah direalisasi Realized gains from
atas instrumen derivatif - neto 221.564 493.594 derivative instruments - net
Keuntungan/(kerugian) atas
transaksi dalam mata uang asing Gains/(losses) from foreign exchange
- neto 287.041 (145.627) transactions - net
Pendapatan dividen 2.099 2.480 Dividend income
Bagian laba bersih entitas asosiasi 20 38.431 55.780 Share in net income of associate
Gains on sale of marketable
Keuntungan penjualan efek-efek securities and Government
dan Obligasi Pemerintah - neto 2j,8a,15a 282.788 457.753 Bonds - net
3.991.566 4.192.374
BEBAN OPERASIONAL
LAINNYA OTHER OPERATING EXPENSES
Beban provisi dan komisi lain 2y (312.346) (313.257) Other fees and commissions expenses
Beban umum dan administrasi 2c,2s,2t,39 (2.518.171) (2.406.169) General and administrative expenses
2ad,2ah,
Beban tenaga kerja dan tunjangan 40,47 (5.259.355) (5.037.796) Salaries and employee benefits
2o,6,7,8,11,
Kerugian penurunan nilai 12,13,14,19 (5.764.152) (6.539.812) Impairment losses
Lain-lain (1.470.945) (1.347.863) Others
(15.324.969) (15.644.897)
NETO 2.413.819 2.271.140 NET OPERATING INCOME
PENDAPATAN DAN BEBAN NON-OPERATING

BUKAN OPERASIONAL INCOME AND EXPENSES
Pendapatan bukan operasional 41 107.015 109.547 Non-operating income

Beban bukan operasional 42 (240.914) (313.611) Non-operating expenses
BEBAN BUKAN NON-OPERATING

OPERASIONAL - NETO (133.899) (204.064) EXPENSES - NET
LABA SEBELUM PAJAK

PENGHASILAN 2.279.920 2.067.076 INCOME BEFORE INCOME TAX
BEBAN PAJAK PENGHASILAN 2ac,27c (610.640) (978.134) INCOME TAX EXPENSE
LABA BERSIH 1.669.280 1.088.942 NET INCOME
516

LAPORAN LABA RUGI DAN PENGHASILAN CONSOLIDATED STATEMENTS OF PROFIT OR LOSS
KOMPREHENSIF LAIN KONSOLIDASIAN AND OTHER COMPREHENSIVE INCOME
Catatan/
Notes 2021 2020
PENGHASILAN KOMPREHENSIF LAIN OTHER COMPREHENSIVE INCOME
Pos-pos yang tidak akan Items that will not be reclassified to

direklasifikasi ke laba rugi profit or loss
Pengukuran kembali atas liabilitas Remeasurement of post employment
imbalan pasca kerja 43 292.426 (19.562) benefit obligation
Pajak penghasilan terkait dengan Income tax related to other
penghasilan komprehensif lain 27d (64.334) 4.304 comprehensive income
Pengukuran kembali atas liabilitas Remeasurement of post
imbalan pasca kerja dari entitas employment benefit obligation
asosiasi (643) (397) from associate
Pos-pos yang akan Items that will be reclassified to

direklasifikasi ke laba rugi profit or loss
Aset keuangan diukur pada nilai wajar
melalui penghasilan Financial assets measured at fair value
komprehensif lain: through other comprehensive
Perubahan nilai wajar pada tahun 2j, income:
berjalan 8e,15d,16 (15.955) 736.931 Changes in fair value in current year
Kerugian penurunan nilai (71) 318 Impairment losses
Jumlah yang ditransfer ke laba rugi Amount transferred to
sehubungan dengan perubahan nilai profit or loss in respect of
wajar 8e,15d (185.864) (262.794) fair value changes
Perubahan nilai wajar pada Changes in fair value of
lindung nilai arus kas 2l,10 199.534 (73.470) cashflow hedge
Pajak penghasilan terkait dengan Income tax related to
penghasilan komprehensif lain 27d (5.027) (96.128) other comprehensive income
Aset keuangan diukur pada nilai wajar Financial assets measured at fair value
melalui penghasilan komprehensif through other comprehensive
lain dari entitas asosiasi - neto 3.282 4.119 income from associate - net
Penghasilan komprehensif lain,
setelah pajak 223.348 293.321 Other comprehensive income, net of tax
JUMLAH LABA KOMPREHENSIF 1.892.628 1.382.263 TOTAL COMPREHENSIVE INCOME
Laba bersih yang dapat

diatribusikan kepada: Net income attributable to:
Pemilik entitas induk 45 1.573.113 1.007.614 Equity holders of the parent entity
Kepentingan non-pengendali 48 96.167 81.328 Non-controlling interests
1.669.280 1.088.942
Laba komprehensif yang dapat Comprehensive income

diatribusikan kepada: attributable to:
Pemilik entitas induk 1.775.682 1.301.521 Equity holders of the parent entity
Kepentingan non-pengendali 48 116.946 80.742 Non-controlling interests
1.892.628 1.382.263
LABA BERSIH PER SAHAM DASAR BASIC EARNINGS PER SHARE

YANG DAPAT DIATRIBUSIKAN ATTRIBUTABLE TO EQUITY
KEPADA PEMILIK ENTITAS HOLDERS OF THE PARENT
INDUK (NILAI PENUH) 2ae,45 160,96 103,10 ENTITY (FULL AMOUNT)
Catatan atas laporan keuangan konsolidasian terlampir merupakan bagian yang tidak The accompanying notes to the consolidated financial statements form an
terpisahkan dari laporan keuangan konsolidasian secara keseluruhan. integral part of these consolidated financial statements taken as a whole.
517
518
LAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
31 Desember 2021 dan 2020 31 December 2021 and 2020
Atribusi kepada pemilik entitas induk/Attributable to equity holders of the parent entity
Komponen ekuitas lainnya/
Other equity components
Perubahan nilai wajar atas
Efek-efek,
Obligasi Pemerintah, dan
Investasi dalam saham
yang diukur pada nilai wajar
melalui pendapatan
komprehensif lain- Saldo laba/
neto/Changes in fair value Perubahan Retained earnings Jumlah
Perubahan on Marketable securities, nilai wajar atas sebelum
Tambahan ekuitas Government lindung nilai Belum kepentingan Kepentingan
modal Modal entitas Bonds, and arus kas-neto/ ditentukan non- non-
Modal disetor/ disetor asosiasi/ Investments in shares Changes in fair Sudah penggunaan- pengendali/ pengendali/
saham/ Additional lainnya/ Changes of measured at fair value value of ditentukan nya/ Total before Non- Jumlah
Catatan/ Share paid-up Other paid- associate through other cashflow penggunaannya/ Unappro- non-controlling controlling ekuitas/
Notes capital capital up capital equity comprehensive income-net hedge-net Appropriated priated*) interests interests Total equity
Saldo pada tanggal 1 Januari 2021 5.995.577 7.985.971 189 - 642.117 (199.409) 470.018 28.213.350 43.107.813 467.686 43.575.499 Balance as of 1January 2021
Jumlah laba tahun berjalan Total income for the year
Laba bersih tahun berjalan 48 - - - - - - - 1.573.113 1.573.113 96.167 1.669.280 Net income for the year
Penghasilan komprehensif lain, Other comprehensive
setelah pajak income, net of tax
Perubahan nilai wajar atas Changes in fair value of
lindung nilai arus kas-neto 2l,48 - - - - - 143.295 - - 143.295 12.342 155.637 cashflow hedge-net
Pengukuran kembali liabilitas imbalan Remeasurement of obligation
pasca kerja 48 - - - - - - - 219.012 219.012 8.437 227.449 for post-employment benefits
Perubahan nilai wajar atas Changes in fair value on Marketable
Efek-efek, Obligasi securities, Government Bonds, and
Pemerintah, dan Investasi Investments in shares measured at
dalam saham yang diukur pada nilai wajar fair value through other
melalui pendapatan komprehensif lain - neto 2j - - - - (159.738) - - - (159.738) - (159.738) comprehensive income -net
Jumlah penghasilan komprehensif lain - - - - (159.738) 143.295 - 219.012 202.569 20.779 223.348 Total other comprehensive income
Jumlah laba komprehensif Total comprehensive income
tahun berjalan - - - - (159.738) 143.295 - 1.792.125 1.775.682 116.946 1.892.628 for the year
Perubahan ekuitas entitas asosiasi 2d,20 - - - 8.242 - - - - 8.242 - 8.242 Changes of associate equity
Pembentukan cadangan umum Appropriation for general
dan wajib 32 - - - - - - 10.076 (10.076) - - - and legal reserve
Pembagian dividen tunai 2ag,32,48 - - - - - - - (352.630) (352.630) (40.681) (393.311) Distribution of cash dividends
Saldo pada tanggal 31 Desember 2021 5.995.577 7.985.971 189 8.242 482.379 (56.114) 480.094 29.642.769 44.539.107 543.951 45.083.058 Balance as of 31 December 2021
*) Saldo laba yang tidak ditentukan penggunaannya termasuk pengukuran kembali atas program imbalan pasti *) Unappropriated retained earnings include remeasurement on defined benefit plans
C atatan atas laporan keuangan konsolidasian terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan The accompanying notes to the consolidated financial statements form an integral part of these consolidated financial
konsolidasian secara keseluruhan. statements taken as a whole.
2021 Annual Report

LAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
Untuk Tahun yang Berakhir pada For the Year Ended
31 Desember 2021 dan 2020 31 December 2021 and 2020
Efek-efek,
Obligasi Pemerintah, dan Saldo laba/
Investasi dalam saham Perubahan Retained earnings
dalam kelompok tersedia nilai wajar atas Jumlah
Tambahan untuk dijual- neto/Changes lindung nilai Belum sebelum Kepentingan
modal Modal in fair value on available-for- arus kas-neto/ ditentukan kepentingan non-
Modal disetor/ disetor sale Marketable securities, Changes in fair penggunaan- non-pengendali/ pengendali/
saham/ Additional lainnya/ Government value of Sudah ditentukan nya/ Total before Non- Jumlah
Catatan/ Share paid-up Other paid- Bonds, and cashflow penggunaannya/ Unappro- non-controlling controlling ekuitas/
Notes capital capital up capital Investments in shares-net hedge-net Appropriated priated*) interests interests Total equity
Saldo pada tanggal 1 Januari 2020 5.995.577 7.985.971 189 261.972 (140.997) 429.284 30.405.170 44.937.166 479.861 45.417.027 Balance as of 1January 2020
Dampak penerapan awal PSAK 71 48 - - - 1.532 - - (1.297.358) (1.295.826) (9.051) (1.304.877) Effect of initial implementation PSAK 71
Saldo pada tanggal 1 Januari 2020, Balance as of 1 January 2020, after
setelah dampak penerapan PSAK 71 5.995.577 7.985.971 189 263.504 (140.997) 429.284 29.107.812 43.641.340 470.810 44.112.150 initial implementation of PSAK 71
Jumlah laba tahum berjalan Total income for the year
Laba bersih tahun berjalan 48 - - - - - - 1.007.614 1.007.614 81.328 1.088.942 Net income for the year
lindung nilai arus kas-neto 2l,48 - - - - (58.412) - - (58.412) (5.032) (63.444) cashflow hedge-net
pasca kerja 48 - - - - - - (20.101) (20.101) 4.446 (15.655) for post-employment benefits
Perubahan nilai wajar atas Changes in fair value on Marketable
Efek-efek, Obligasi securities, Government Bonds, and
Pemerintah, dan Investasi Investments in shares measured at fair
dalam saham yang diukur pada nilai wajar value through other comprehensive
melalui pendapatan komprehensif lain - neto 2j - - - 372.420 - - - 372.420 - 372.420 income -net
Jumlah penghasilan komprehensif lain - - - 372.420 (58.412) - (20.101) 293.907 (586) 293.321 Total other comprehensive income
tahun berjalan - - - 372.420 (58.412) - 987.513 1.301.521 80.742 1.382.263 for the year
Dampak penyesuaian tarif pajak 48 - - - 6.193 - - (8.211) (2.018) (244) (2.262) Impact on tax rate adustment
dan wajib 32 - - - - - 40.734 (40.734) - - - and legal reserve
Pembagian dividen tunai 2ag,32,48 - - - - - - (1.833.030) (1.833.030) (83.622) (1.916.652) Distribution of cash dividends
Saldo pada tanggal 31 Desember 2020 5.995.577 7.985.971 189 642.117 (199.409) 470.018 28.213.350 43.107.813 467.686 43.575.499 Balance as of 31 December 2020
Catatan atas laporan keuangan konsolidasian terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan The accompanying notes to the consolidated financial statements form an integral part of these consolidated financial
konsolidasian secara keseluruhan. statements taken as a whole.
519


DAN ENTITAS ANAK AND SUBSIDIARIES CONSOLIDATED
LAPORAN ARUS KAS KONSOLIDASIAN STATEMENT OF CASH FLOWS
Catatan/
Notes 2021 2020
Arus kas dari kegiatan operasi: Cash flows from operating activities:
Pendapatan bunga, provisi, dan komisi 9.261.170 11.839.506 Interest income, fees, and commissions
Penerimaan dari transaksi pembiayaan konsumen 40.954.163 45.096.273 Receipts from consumer financing transactions
Pengeluaran untuk transaksi pembiayaan Payments for new consumer financing
konsumen baru (26.815.000) (18.652.655) transactions
Pembayaran bunga, provisi, dan komisi (3.883.326) (5.856.326) Payments of interest, fees, and commissions
Pembayaran bunga dari efek yang diterbitkan (601.294) (895.896) Payments of interests on securities issued
Penerimaan dalam rangka pembiayaan bersama 12.593.034 8.878.703 Proceeds in relation to joint financing
Pengeluaran dalam rangka pembiayaan bersama (11.554.610) (11.797.994) Repayment in relation to joint financing
Pendapatan operasional lainnya 1.791.973 2.149.790 Other operating income
Kerugian/(keuntungan) atas transaksi Loss/(gain) from foreign exchange
mata uang asing - neto 279.384 (330.037) transactions - net
Beban operasional lainnya (8.431.386) (8.232.323) Other operating expenses
Beban bukan operasional - neto (138.968) (201.737) Non-operating expense - net
Arus kas sebelum perubahan dalam aset dan Cash flows before changes in operating
liabilitas operasi 13.455.140 21.997.304 assets and liabilities
Perubahan dalam aset dan liabilitas operasi: Changes in operating assets and liabilities:
Penurunan/(kenaikan) aset operasi: Decrease/(increase) in operating assets:
Penempatan pada bank lain dan Bank Indonesia - Placements with other banks and Bank
jatuh tempo lebih dari 3 bulan sejak tanggal Indonesia - maturing more than 3 months
perolehan (408.209) 3.439.935 from the date of acquisition
Efek-efek dan Obligasi Pemerintah - Marketable securities and Government
diperdagangkan 822.442 (1.386.873) Bonds - trading
Efek yang dibeli dengan janji dijual kembali 8.818.111 (8.394.006) Securities purchased under resale agreements
Pinjaman yang diberikan (4.150.597) (9.044.074) Loans
Beban dibayar dimuka dan aset lain-lain (91.346) (246.325) Prepayments and other assets
Kenaikan/(penurunan) liabilitas operasi: Increase/(decrease) in operating liabilities:
Simpanan nasabah: Deposits from customers:
- Giro 2.450.804 7.014.234 Current accounts -
- Tabungan 4.519.937 2.617.551 Savings -
- Deposito berjangka (9.820.154) 4.106.159 Time deposits -
Simpanan dari bank lain (193.282) (2.004.958) Deposits from other banks
Beban yang masih harus dibayar dan liabilitas
lain-lain 439.099 153.772 Accruals and other liabilities
Pembayaran pajak penghasilan selama tahun
berjalan (668.788) (957.194) Income tax paid during the year
Kas neto diperoleh dari kegiatan operasi 15.173.157 17.295.525 Net cash provided from operating activities
Catatan atas laporan keuangan konsolidasian terlampir merupakan bagian yang The accompanying notes to the consolidated financial statements form an integral
tidak terpisahkan dari laporan keuangan konsolidasian secara keseluruhan. part of these consolidated financial statements taken as a whole.
520


DAN ENTITAS ANAK AND SUBSIDIARIES CONSOLIDATED
LAPORAN ARUS KAS KONSOLIDASIAN STATEMENT OF CASH FLOWS
(Disajikan dalam jutaan Rupiah kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
Catatan/
Notes 2021 2020
Arus kas dari kegiatan investasi: Cash flows from investing activities:
Penerimaan dari efek-efek dan Obligasi Pemerintah Proceeds from sales of and matured
yang dijual dan telah jatuh tempo - biaya marketable securities and Government
perolehan diamortisasi dan nilai wajar melalui Bonds - amortized cost and fair value
penghasilan komprehensif lain 14.484.264 14.261.980 through other comprehensive income
Pembelian efek-efek dan Obligasi Pemerintah - Acquisition of marketable securities and
biaya perolehan diamortisasi dan nilai wajar Government Bonds - amortized cost and fair
melalui penghasilan komprehensif lain (20.641.778) (19.309.969) value through other comprehensive income
17,18,57 Acquisition of fixed assets and intangible
Perolehan aset tetap dan aset takberwujud (425.914) (277.040) assets
Hasil penjualan aset tetap 18 9.732 6.023 Proceeds from sale of fixed assets
Penerimaan hasil investasi 27.889 44.996 Receipt from investment
Penerimaan dividen kas 2.099 2.480 Receipt of cash dividends
Kas neto digunakan untuk kegiatan investasi (6.543.708) (5.271.530) Net cash used by investing activities
Arus kas dari kegiatan pendanaan: Cash flows from financing activities:
Pembayaran pokok obligasi dan sukuk Payments of principal on bonds issued and
mudharabah (3.155.950) (6.560.000) mudharabah bonds
Penerimaan dari penerbitan obligasi dan sukuk Proceeds from bonds issuance mudharabah
mudharabah 1.506.544 1.494.287 bonds
Pembayaran dividen tunai (393.668) (1.916.205) Payments of cash dividends
Penerimaan pinjaman 5.700.000 9.713.675 Proceeds from borrowings
Pembayaran pinjaman (10.591.676) (11.131.620) Repayments of borrowings
Penurunan pokok liabilitas sewa (116.570) (78.704) Decrease in principal of lease liabilities
Kas neto digunakan untuk kegiatan
pendanaan (7.051.320) (8.478.567) Net cash used by financing activities
Kenaikan kas dan setara kas - neto 1.578.129 3.545.428 Net increase in cash and cash equivalents
Dampak neto perubahan nilai tukar atas kas dan Net effect on changes in exchange rates on
setara kas (15.814) 77.900 cash and cash equivalents
Cash and cash equivalents at

Kas dan setara kas pada awal tahun 16.698.291 13.074.963 beginning of the year

Kas dan setara kas pada akhir tahun 18.260.606 16.698.291 end of the year
Kas dan setara kas terdiri dari: Cash and cash equivalents consist of:
Kas 4 2.789.555 2.838.127 Cash
Giro pada Bank Indonesia 5 3.060.014 2.185.998 Current accounts with Bank Indonesia
Giro pada bank lain 6 2.979.223 4.418.587 Current accounts with other banks
Penempatan pada bank lain dan Bank Indonesia - Placements with other banks and Bank
jatuh tempo sampai dengan 3 bulan sejak Indonesia - maturing within 3 months
tanggal perolehan 9.431.814 7.255.579 from the date of acquisition
Jumlah kas dan setara kas 18.260.606 16.698.291 Total cash and cash equivalents
Catatan atas laporan keuangan konsolidasian terlampir merupakan bagian yang The accompanying notes to the consolidated financial statements form an integral
tidak terpisahkan dari laporan keuangan konsolidasian secara keseluruhan. part of these consolidated financial statements taken as a whole.
521

CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Untuk Tahun-tahun yang Berakhir for the Years Ended
Pada Tanggal 31 Desember 2021 dan 2020 31 December 2021 and 2020

1. UMUM 1. GENERAL
a. Pendirian dan informasi umum Bank a. Establishment and general information of the
Bank
PT Bank Danamon Indonesia Tbk (“Bank”), PT Bank Danamon Indonesia Tbk (the “Bank”),
berkedudukan di Jakarta Selatan, didirikan pada domiciled in South Jakarta, was established on
tanggal 16Juli 1956 berdasarkan akta notaris 16 July 1956 based on the notarial deed No.134 of
Meester Raden Soedja, S.H. No.134. Akta pendirian Meester Raden Soedja, S.H. The deed of
ini disahkan oleh Menteri Kehakiman Republik establishment was ratified by the Minister of Justice
Indonesia dengan Surat Keputusan No.J.A.5/40/8 of the Republic of Indonesia in its decision letter
tanggal 24 April 1957 dan telah diumumkan dalam No.J.A.5/40/8 dated 24 April 1957 and was
Tambahan No.664, pada Berita Negara Republik published in Supplement No.664 to the State
Indonesia No.46 tanggal 7 Juni 1957. Gazette of the Republic of Indonesia No.46 dated
7June 1957.
Bank memperoleh izin usaha sebagai bank umum, The Bank obtained a license as a commercial
bank devisa, dan bank yang melakukan kegiatan bank, a foreign exchange bank, and a bank
berdasarkan prinsip Syariah masing-masing engaged in activities based on Sharia principles
berdasarkan surat keputusan Menteri Keuangan based on the decision letter No.161259/U.M.II of
No.161259/U.M.II tanggal 30 September 1958, surat the Minister of Finance dated 30 September 1958,
keputusan Direksi Bank Indonesia (“BI”) the decision letter No.21/10/Dir/UPPS of the Board
No.21/10/Dir/UPPS tanggal 5 November 1988 dan of Directors of Bank Indonesia (“BI”) dated
Surat Direktorat Perizinan dan Informasi Perbankan 5November 1988 and the letter of the Directorate
No.3/744/DPIP/Prz tanggal 31Desember 2001. of Licensing and Banking Information
No.3/744/DPIP/Prz dated 31 December 2001,
respectively.
Anggaran Dasar Bank telah mengalami beberapa The Bank’s Articles of Association has been
kali perubahan. Perubahan terakhir dilakukan amended several times. The latest amendment
sehubungan dengan perubahan beberapa pasal related to changes on several articles in the Articles
of Association of the Bank as stated in notarial
dalam Anggaran Dasar Bank yang dituangkan dalam deed No.40 dated 10 December 2020, made
Akta No.40 tanggal 10 Desember 2020, yang dibuat before Mala Mukti, Bachelor of Law, Lex Legibus
di hadapan Mala Mukti, Sarjana Hukum, Lex Legibus Master, Notary in Jakarta, whereby the receipt of
Magister, Notaris di Jakarta, dimana penerimaan notification of amendments to the Articles of
pemberitahuan perubahan Anggaran Dasar telah Association had been received and registered in
diterima serta dicatat dalam Database Sistem the Legal Entity Administrative System Database of
Administrasi Badan Hukum Kementerian Hukum dan the Ministry of Law and Human Rights of the
Republic of Indonesia No.AHU-AH.01.03-0420961
Hak Asasi Manusia Republik Indonesia No.AHU-
dated 18 December 2020.
AH.01.03-0420961 tanggal 18 Desember 2020.
Sesuai dengan pasal 3 Anggaran Dasar Bank, ruang According to article 3 of the Bank’s Articles of
lingkup kegiatan Bank adalah menjalankan kegiatan Association, the Bank’s scope of activities is to
usaha di bidang perbankan sesuai dengan undang- engage in general banking services in accordance
undang dan peraturan yang berlaku, dan melakukan with prevailing laws and regulations, and to engage in
kegiatan perbankan lainnya berdasarkan prinsip other banking activities based on Sharia principles.
Syariah. Bank mulai melakukan kegiatan berdasarkan The Bank started its activities based on the Sharia
prinsip Syariah tersebut sejak tahun 2002. principles since 2002.
Kantor pusat Bank berlokasi di Menara Bank The Bank’s head office address is at Menara Bank
Danamon, Jalan HR. Rasuna Said Blok C No.10, Danamon, Jalan HR. Rasuna Said Blok C No.10,
Kelurahan Karet, Kecamatan Setiabudi, Jakarta Kelurahan Karet, Kecamatan Setiabudi, Jakarta
Selatan. Selatan.
Pada tanggal 31 Desember 2021, Bank mempunyai As of 31 December 2021, the Bank had the
cabang-cabang dan kantor-kantor pembantu following branches and representative offices:
sebagai berikut:
Jumlah/Total*
Kantor cabang utama konvensional 41 Conventional main branches
Kantor cabang pembantu konvensional, Kantor Conventional sub-branches, Cash branches
Kas dan Kantor Fungsional 369 and Functional branches
Kantor cabang utama dan kantor cabang Sharia branches and
pembantu Syariah 14 sub-branches
*sesuai ijin BI/OJK *as approved by BI/OJK
522

1. UMUM (lanjutan) 1. GENERAL (continued)
a. Pendirian dan informasi umum Bank (lanjutan) a. Establishment and general information of the
Bank (continued)
Seluruh kantor cabang, kantor cabang pembantu, The conventional and Sharia branches and sub-
dan kantor cabang Syariah berlokasi di berbagai branches are located in various major business
pusat bisnis yang tersebar di seluruh Indonesia. centers throughout Indonesia.
b. Penawaran umum saham Bank b. Public offering of the Bank’s shares
Pada tanggal 8 Desember 1989, berdasarkan Izin On 8 December 1989, based on the license from
Menteri Keuangan No.SI-066/SHM/MK.10/1989 the Minister of Finance No.SI-
tertanggal 24 Oktober 1989, Bank melakukan 066/SHM/MK.10/1989 dated 24 October 1989, the
Penawaran Umum Perdana atas 12.000.000 saham Bank undertook an Initial Public Offering (IPO) of
dengan nilai nominal Rp1.000 per saham (nilai 12,000,000 shares with par value of Rp1,000 per
penuh). Pada tanggal 8 Desember 1989, seluruh share (full amount). On 8 December 1989, these
saham ini telah dicatatkan di Bursa Efek Jakarta shares were listed at the Jakarta Stock Exchange
(sekarang bernama Bursa Efek Indonesia setelah (known as Indonesia Stock Exchange, after being
digabungkan dengan Bursa Efek Surabaya). merged with the Surabaya Stock Exchange).
Setelah itu, Bank melakukan penambahan jumlah Subsequently, the Bank increased its listed shares
saham-saham terdaftar melalui saham bonus, through bonus shares, Limited Public Offerings
Penawaran Umum Terbatas dengan Hak Memesan with Pre-emptive Rights (Rights Issue) I, II, III, IV,
Efek Terlebih Dahulu (Rights Issue) I, II, III, IV, dan and V and through Employee/Management Stock
V dan dalam rangka Program Kompensasi Option Program (“E/MSOP”).
Karyawan/Manajemen Berbasis Saham
(“E/MSOP”).
Bank menerima Surat Pemberitahuan Efektif The Bank received Effective Letter
No.S-2196/PM/1993 dari Badan Pengawasan Pasar No.S-2196/PM/1993 from Capital Market and
Modal dan Lembaga Keuangan (“Bapepam dan Financial Institution Supervisory Board (“Bapepam
LK”), dahulu bernama Badan Pengawas Pasar and LK”), previously Capital Market Supervisory
Modal (“Bapepam”), sehubungan dengan Board (“Bapepam”), in conjunction with Limited
Penawaran Umum Terbatas I dengan Hak Memesan Public Offering I with Pre-emptive Rights on
Efek Terlebih Dahulu pada tanggal 24 December 1993.
24 Desember 1993.
No.S-608/PM/1996 dari Bapepam dan LK, dahulu No.S-608/PM/1996 from Bapepam and LK,
bernama Bapepam, sehubungan dengan previously Bapepam, in conjunction with Limited
Penawaran Umum Terbatas II dengan Hak Public Offering II with Pre-emptive Rights on
Memesan Efek Terlebih Dahulu pada tanggal 29 April 1996.
29 April 1996.
No.S-429/PM/1999 dari Bapepam dan LK, dahulu No.S-429/PM/1999 from Bapepam and LK,
bernama Bapepam, sehubungan dengan previously Bapepam, in conjunction with Limited
Penawaran Umum Terbatas III dengan Hak Public Offering III with Pre-emptive Rights on
Memesan Efek Terlebih Dahulu pada tanggal 29 March 1999.
29 Maret 1999.
No.S-2093/BL/2009 dari Bapepam dan LK No.S-2093/BL/2009 from Bapepam and LK in
sehubungan dengan Penawaran Umum Terbatas IV conjunction with Limited Public Offering IV with
dengan Hak Memesan Efek Terlebih Dahulu pada Pre-emptive Rights on 20 March 2009.
tanggal 20 Maret 2009.
No.S-9534/BL/2011 dari Bapepam dan LK No.S-9534/BL/2011 from Bapepam and LK in
sehubungan dengan Penawaran Umum Terbatas V conjunction with Limited Public Offering V with Pre-
dengan Hak Memesan Efek Terlebih Dahulu pada emptive Rights on 24 August 2011.
tanggal 24 Agustus 2011.
523


b. Penawaran umum saham Bank (lanjutan) b. Public offering of the Bank’s shares
(continued)
Sesuai dengan akta notaris No.55 tanggal In accordance with notarial deed No.55 dated
24 Agustus 2011 yang dibuat di hadapan Fathiah 24 August 2011 of Fathiah Helmi, S.H., Notary in
Helmi, S.H., Notaris di Jakarta, para pemegang Jakarta, the Bank’s shareholders through the
saham Bank melalui Rapat Umum Pemegang Extraordinary General Meeting of Shareholders
Saham Luar Biasa (“RUPSLB”) pada tanggal (“EGMS”) dated 24 August 2011 approved the
24 Agustus 2011 telah menyetujui rencana untuk Bank’s plan to conduct the Limited Public Offering
melakukan Penawaran Umum Terbatas dengan Hak with pre-emptive rights (Rights Issue) V, with the
Memesan Efek Terlebih Dahulu (Rights Issue) V, approved maximum new shares issued by the
dengan jumlah saham baru yang akan dikeluarkan Bank of 1,162,285,399 B series shares.
oleh Bank sebanyak-banyaknya 1.162.285.399 In accordance with the Shareholders Register
saham seri B. Sesuai dengan Daftar Pemegang dated 26 September 2011, an allotment date of the
Saham pada tanggal 26 September 2011 yang above Rights Issue, the total new shares issued in
merupakan tanggal penjatahan Rights Issue conjunction with Rights Issue V were
tersebut di atas, jumlah saham baru yang 1,162,285,399 B series shares.
dikeluarkan dalam rangka Rights Issue V adalah
sebanyak 1.162.285.399 saham seri B.
Berikut adalah kronologis pencatatan saham Bank The chronological overview of the Bank’s issued
pada bursa efek di Indonesia sejak Penawaran shares on the stock exchanges in Indonesia since
Umum Perdana: the Initial Public Offering is as follows:
Saham Seri A/
A Series Shares
Saham yang berasal dari Penawaran
Umum Perdana pada tahun 1989 12.000.000 Shares from Initial Public Offering in 1989
Saham pendiri 22.400.000 Founders’ shares
Saham bonus yang berasal dari kapitalisasi Bonus shares from capitalization
tambahan modal disetor - agio saham of additional paid-up capital - capital
pada tahun 1992 34.400.000 paid in excess of par value in 1992
Umum Terbatas dengan Hak Memesan Shares from Limited Public Offering with
Efek Terlebih Dahulu (Rights Issue) I Pre-emptive Rights (Rights Issue)
pada tahun 1993 224.000.000 I in 1993
Saham bonus yang berasal dari kapitalisasi Bonus shares from capitalization
tambahan modal disetor - agio saham of additional paid-up capital - capital
pada tahun 1995 112.000.000 paid in excess of par value in 1995
Umum Terbatas dengan Hak Memesan Shares from Limited Public Offering with
Efek Terlebih Dahulu (Rights Issue) II Pre-emptive Rights (Rights Issue)
pada tahun 1996 560.000.000 II in 1996
Saham pendiri pada tahun 1996 155.200.000 Founders’ shares in 1996
Saham yang berasal dari perubahan nilai
nominal saham pada tahun 1997 1.120.000.000 Shares resulting from stock split in 1997
2.240.000.000
Peningkatan nilai nominal saham menjadi : 20 Increase in par value to
Rp10.000 (nilai penuh) per saham Rp10,000 (full amount) per share
melalui pengurangan jumlah saham through reduction in total number
(reverse stock split) pada tahun 2001 112.000.000 of shares (reverse stock split) in 2001
Peningkatan nilai nominal saham menjadi :5 Increase in par value to
Rp50.000 (nilai penuh) per saham Rp50,000 (full amount) per share
melalui pengurangan jumlah saham through reduction in total number
(reverse stock split) pada tahun 2003 22.400.000 of shares (reverse stock split) in 2003
Jumlah saham seri A pada tanggal Total A series shares
31 Desember 2021 (Catatan 30) 22.400.000 as of 31 December 2021(Note 30)
524

(continued)
Saham Seri B/
B Series Shares
Saham yang berasal dari Penawaran Umum Shares from Limited Public Offering with
Terbatas dengan Hak Memesan Efek Terlebih Pre-emptive Rights (Rights Issue)
Dahulu (Rights Issue) III pada tahun 1999 215.040.000.000 III in 1999
Saham yang diterbitkan dalam rangka Shares issued in connection with
penggabungan usaha dengan PDFCI pada the Bank’s merger with
tahun 1999 45.375.000.000 the former PDFCI in 1999
penggabungan usaha dengan Bank Tiara the Bank’s merger with
pada tahun 2000 35.557.200.000 Bank Tiara in 2000
penggabungan usaha dengan 7 BTO* (Taken- the Bank’s merger with
Over Banks) lainnya pada tahun 2000 192.480.000.000 7 Taken-Over Banks* (BTOs) in 2000
488.452.200.000
Peningkatan nilai nominal saham menjadi : 20 Increase in par value to
Rp100 (nilai penuh) per saham melalui Rp100 (full amount) per share
pengurangan jumlah saham (reverse stock through reduction in total number of
split) pada tahun 2001 24.422.610.000 shares (reverse stock split) in 2001
Peningkatan nilai nominal saham menjadi :5 Increase in par value to
Rp500 (nilai penuh) per saham melalui Rp500 (full amount) per share
pengurangan jumlah saham (reverse stock through reduction in total number of
split) pada tahun 2003 4.884.522.000 shares (reverse stock split) in 2003
Saham yang berasal dari Penawaran Umum
Terbatas dengan Hak Memesan Efek Shares from Limited Public Offering with
Terlebih Dahulu (Rights Issue) IV pada Pre-emptive Rights (Rights Issue)
tahun 2009 3.314.893.116 IV in 2009
Saham yang berasal dari Penawaran Umum
Terbatas dengan Hak Memesan Efek Shares from Limited Public Offering with
Terlebih Dahulu (Rights Issue) V pada Pre-emptive Rights (Rights Issue)
tahun 2011 1.162.285.399 V in 2011
Program Kompensasi Karyawan/Manajemen Employee/Management Stock Option
Berbasis Saham (tahap I-III) Program (tranche I-III)
- 2005 13.972.000 2005 -
- 2006 24.863.000 2006 -
- 2007 87.315.900 2007 -
- 2008 13.057.800 2008 -
- 2009 29.359.300 2009 -
- 2010 26.742.350 2010 -
- 2011 5.232.500 2011 -
Saham yang diterbitkan dalam rangka Shares issued in connection with the
penggabungan usaha dengan PT Bank Bank’s merger with PT Bank Nusantara
Nusantara Parahyangan Tbk pada tahun 2019 188.909.505 Parahyangan Tbk in 2019
Jumlah saham seri B pada tanggal Total B series shares as of

31 Desember 2021 (Catatan 30) 9.751.152.870 31 December 2021 (Note 30)
* 7 BTO terdiri dari PT Bank Duta Tbk, PT Bank Rama * 7 BTOs consist of PT Bank Duta Tbk, PT Bank Rama
Tbk, PT Bank Tamara Tbk, PT Bank Nusa Nasional Tbk, PT Bank Tamara Tbk, PT Bank Nusa Nasional
Tbk, PT Bank Pos Nusantara, PT Jayabank Tbk, PT Bank Pos Nusantara, PT Jayabank
International, dan PT Bank Risjad Salim Internasional. International, and PT Bank Risjad Salim
Internasional.
525


(continued)
Terhitung mulai tanggal 1 Mei 2019 PT Bank Starting from 1 May 2019 PT Bank Danamon
Danamon Indonesia Tbk dan PT Bank Nusantara Indonesia Tbk and PT Bank Nusantara
Parahyangan Tbk “BNP” telah efektif bergabung Parahyangan Tbk “BNP” has effective merged as
sebagaimana dimuat dalam Akta Nomor 123 tanggal specified into Deed number 123 dated 29 April
29 April 2019 yang dibuat oleh Mala Mukti, Sarjana 2019 made by Mala Mukti, Bachelor of Law, Lex
Hukum, Lex Legibus Magister, Notaris di Jakarta Legibus Magister, Notary in Jakarta and has been
dan telah disetujui oleh Menteri Hukum dan Hak approved by the Minister of Law and Human Rights
Asasi Manusia Republik Indonesia melalui Surat of the Republic of Indonesia through Decree Letter
Keputusan Menteri Hukum dan Hak Asasi Manusia No.AHU-AH.01.10-0008351. dated 30 April 2019
Republik Indonesia No.AHU-AH.01.10-0008351. regarding Acceptance Notification on Merger of
tanggal 30 April 2019 tentang Penerimaan PT Bank Danamon Indonesia Tbk, Approval on
Pemberitahuan Penggabungan Perseroan PT Bank Amendment of Articles of Association of PT Bank
Danamon Indonesia Tbk, Surat Keputusan Menteri Danamon Indonesia Tbk, Decree Letter Number
Hukum dan Hak Asasi Manusia Republik Indonesia No.AHU-AH.01.03-0224741 dated 30 April 2019
No.AHU-AH.01.03-0224741 tanggal 30 April 2019 concerning Acceptance on Notification of Articles
tentang Penerimaan Pemberitahuan Perubahan of Association of PT Bank Danamon Indonesia
Anggaran Dasar PT Bank Danamon Indonesia Tbk, Tbk, Decree Letter Number No.AHU-AH.01.03-
Surat Keputusan Menteri Hukum dan Hak Asasi 0224743 dated 30 April 2019 concerning
Manusia Republik Indonesia No.AHU-AH.01.03- Acceptance on Notification of PT Bank Danamon
0224743 tanggal 30 April 2019 tentang Penerimaan Indonesia Tbk’s data amendment.
Pemberitahuan Perubahan Data Perseroan PT Bank
Danamon Indonesia Tbk.
Sehubungan dengan penggabungan usaha In relation to the merger, the Bank has converted
tersebut, Bank melakukan konversi saham BNP BNP’s shares through an additional of 188,909,505
melalui penambahan sejumlah 188.909.505 saham, shares, so the issued and fully paid B series shares
sehingga jumlah modal ditempatkan dan disetor and additional paid-in capital increased by
penuh saham seri B dan tambahan modal disetor Rp94,455 and Rp729,647, respectively.
meningkat masing-masing sebesar Rp94.455 dan
Rp729.647.
c. Entitas Anak c. Subsidiaries
Bank mempunyai kepemilikan langsung pada The Bank has a direct ownership interest in the
Entitas Anak sebagai berikut: following Subsidiaries:
Persentase kepemilikan/ Tahun

Percentage of beroperasi
ownership komersial/ Jumlah aset/Total assets
Kegiatan Year
usaha/ commercial
Nama entitas anak/ Business Domisili/ operations
Name of subsidiary activity Domicile 2021 2020 commenced 2021 2020
PT Adira Dinamika Pembiayaan/ Jakarta,
Multi Finance Tbk Financing Indonesia 92,07% 92,07% 1990 23.725.885 29.230.513
PT Adira Quantum
Multifinance (dalam
likuidasi/in Pembiayaan/ Jakarta,
liquidation) Financing Indonesia 99,00% 99,00% 2003 143.355 142.714
526


c. Entitas Anak (lanjutan) c. Subsidiaries (continued)
PT Adira Dinamika Multi Finance Tbk (ADMF) PT Adira Dinamika Multi Finance Tbk (ADMF)
Pada tanggal 26 Januari 2004, Bank telah On 26 January 2004, the Bank signed a
menandatangani Perjanjian Jual Beli Bersyarat Conditional Sale and Purchase Agreement
(“PJBB”) untuk mengakuisisi 75% dari jumlah saham (“CSPA”) to acquire 75% of the issued shares of
yang dikeluarkan PT Adira Dinamika Multi Finance PT Adira Dinamika Multi Finance Tbk (“ADMF”)
Tbk (“ADMF”) dengan harga perolehan Rp850.000. with a purchase price of Rp850,000. The closing
Akuisisi ini diselesaikan pada tanggal date of this acquisition was on 7 April 2004. Based
7 April 2004. Sesuai dengan PJBB ini, Bank berhak on the CSPA, the Bank is entitled to 75% of
atas 75% dari laba bersih ADMF sejak tanggal ADMF’s net income starting from 1 January 2004.
1 Januari 2004.
Rincian aset neto yang diakuisisi dan goodwill pada Details of net assets acquired and goodwill as of
tanggal akuisisi adalah sebagai berikut: the acquisition date are as follows:
Jumlah aset 1.572.026 Total assets

Jumlah liabilitas (1.241.411) Total liabilities
Aset neto 330.615 Net assets
Penyesuaian atas nilai wajar aset neto Adjustment to fair value of net assets due
karena pembayaran dividen (125.000) to dividend distribution
Nilai wajar aset neto (100%) 205.615 Fair value of net assets (100%)
Harga perolehan 850.000 Purchase price
Nilai wajar aset neto yang diakuisisi (75%) (154.211) Fair value of net assets acquired (75%)
Goodwill (Recognized in accordance with

Goodwill (Dicatat sesuai dengan standar the accounting standard at the time of the
akuntansi pada waktu transaksi terjadi) 695.789 transaction occured)
Berdasarkan PJBB, Bank juga memperoleh 90% hak Based on the CSPA, the Bank is also entitled to
kepemilikan atas perusahaan terafiliasi ADMF, 90% ownership of the affiliated companies of
PT Zurich Asuransi Indonesia Tbk (Dahulu ADMF, PT Zurich Asuransi Indonesia Tbk
PT Asuransi Adira Dinamika Tbk) (“ZAI”), dan (Formerly PT Asuransi Adira Dinamika Tbk)
PT Adira Quantum Multifinance (“AQ”). (“ZAI”), and PT Adira Quantum Multifinance
(“AQ”).
Pada tanggal 26 Januari 2004, Bank juga telah On 26 January 2004, the Bank also signed a Call
menandatangani Perjanjian Call Option, yang Option Agreement, which was then last amended
terakhir diubah dengan “Fourth Amendment to the by the “Fourth Amendment to the Amended and
Amended and Restated Call Option Agreement” Restated Call Option Agreement” dated
tertanggal 22 Desember 2006. Berdasarkan 22 December 2006. Based on the Call Option
Perjanjian Call Option tersebut, Bank berhak untuk Agreement, the Bank has a right to purchase up to
membeli sampai dengan 20%, dari jumlah saham 20%, of the remaining total issued shares of ADMF
yang dikeluarkan oleh ADMF pada harga tertentu at an approved pre-determined strike price. This
yang telah disetujui. Call option ini jatuh tempo pada call option expired on 30 April 2009. On 8 April
tanggal 30 April 2009. Pada tanggal 8 April 2009, 2009, the Bank signed “Extension to the Amended
Bank telah menandatangani “Extensions to the and Restated Call Option Agreement” which
Amended and Restated Call Option Agreement” extended the Call Option expiry date to 31 July
yang memperpanjang jatuh tempo Call Option 2009. On the Call Option issuance date, the Bank
menjadi tanggal 31 Juli 2009. Pada tanggal paid a premium of Rp186,875 for this call option.
penerbitan Call Option, Bank membayar premi
sebesar Rp186.875 atas call option ini.
Pada tanggal 22 November 2005, BI memberikan On 22 November 2005, BI gave a formal approval
persetujuan formal atas penyertaan modal pada on the 95% ownership investment in ADMF.
ADMF dengan porsi kepemilikan saham sebesar
95%.
527


(lanjutan) (continued)
Pada tanggal 9 Juli 2009, Bank telah mengeksekusi On 9 July 2009, the Bank had executed its call
call option-nya untuk membeli 20% saham ADMF option to buy 20% of ADMF’s shares with
dengan nilai akuisisi sebesar Rp1.628.812, dimana acquisition cost of Rp1,628,812, which amount
jumlah ini termasuk premi yang telah dibayar untuk included the payment for call option of Rp186,875.
call option sebesar Rp186.875. Dengan demikian, Therefore, since 9 July 2009, the Bank had owned
sejak tanggal 9 Juli 2009, Bank telah memiliki 95% 95% of ADMF’s shares and had been entitled
saham ADMF dan berhak atas tambahan 20% dari additionally to 20% of ADMF’s net profit since
laba bersih ADMF sejak tanggal 1 Januari 2009. 1 January 2009. ADMF’s Articles of Association
Anggaran Dasar ADMF telah mengalami beberapa has been amended several times with the latest
kali perubahan, perubahan terakhir dilakukan amendment effected by Notarial Deed of Mala
dengan Akta Notaris Mala Mukti, S.H., LL.M., No.40 Mukti, S.H., LL.M., No. 40 dated 15 October 2021.
tanggal 15 Oktober 2021. Perubahan ini diterima This amendment has been received and recorded
dan dicatat dalam Sistem Administrasi Badan in the database of Legal Entity Administrative
Hukum Kementerian Hukum dan Hak Asasi Manusia System of the Ministry of Laws and Human Rights
Republik Indonesia dalam Surat Penerimaan of the Republic of Indonesia through its Letter of
Pemberitahuan Perubahan Anggaran Dasar Receipt of Notice on Amendment to the Articles of
PT Adira Dinamika Multi Finance Tbk Association of PT Adira Dinamika Multi Finance
No.AHU-AH.01.03-0465665 tanggal 27 Oktober Tbk No.AHU-AH.01.03-0465665 dated 27 October
2021. 2021.
Rincian aset neto yang diakuisisi dan goodwill pada Details of net assets acquired and goodwill as of
tanggal eksekusi adalah sebagai berikut: the exercise date are as follows:

Jumlah liabilitas (1.642.021) Total liabilities
Nilai wajar aset neto (100%) 1.950.003 Fair value of net assets (100%)
Harga perolehan 1.628.812 Purchase price
Nilai wajar aset neto yang diakuisisi (20%) (390.000) Fair value of net assets acquired (20%)
Goodwill (Recognized in accordance with

Goodwill (Dicatat sesuai dengan standar the accounting standard at the time
akuntansi pada waktu transaksi terjadi) 1.238.812 of the transaction occured)
Konsolidasi ZAI dan AQ pada bulan April 2006 Consolidation of ZAI and AQ in April 2006 caused
menyebabkan perubahan nilai penyertaan modal a change in the investment amount in ADMF and
pada ADMF dan perubahan nilai buku goodwill change in net book value of goodwill as calculated
seperti berikut ini: below:
Perhitungan Sesudah konsolidasi dengan ZAI dan AQ/

awal/Initial After consolidating ZAI and AQ
calculation
ADMF
saja/only ADMF ZAI AQ Total
Harga perolehan 850.000 822.083 19.020 8.897 850.000 Purchase price

Nilai wajar aset neto Fair value of net
yang diakuisisi (154.211) (154.211) (19.020) (8.897) (182.128) assets acquired
Goodwill (Catatan 2s) 695.789 667.872 - - 667.872 Goodwill (Note 2s)
528

Pada tanggal 25 Januari 2016, Bank telah On 25 January 2016, the Bank divested 2.93%
melakukan divestasi sebesar 2,93% atas ownership in the shares of ADMF to meet minimum
kepemilikan saham di ADMF untuk memenuhi percentage of shares not owned by controlling and
persentase saham minimum sebesar 7,5% saham main shareholder of 7.5% based on regulatory
yang tidak dimiliki oleh pemegang saham decision of the Board of Directors of the Indonesia
pengendali dan pemegang saham utama Stock Exchange No.Kep-00001/BEI/01-2014.
berdasarkan peraturan Keputusan Direksi Bursa Consequently, the Bank’s ownership in ADMF is
Efek Indonesia No.Kep-00001/BEI/01-2014. become 92.07%.
Sehingga, kepemilikan Bank di ADMF menjadi
sebesar 92,07%.
PT Adira Quantum Multifinance (AQ) (dalam PT Adira Quantum Multifinance (AQ) (in
likuidasi) liquidation)
Pada tanggal 12 Desember 2007, penegasan On 12 December 2007, the confirmation of sales
perjanjian jual beli saham AQ sudah ditandatangani. and purchase of shares agreement for AQ had
Penegasan dan persetujuan atas transaksi tersebut been signed. Confirmation and approval for such
telah diperoleh dalam Rapat Umum Pemegang transaction had been obtained from the Annual
Saham Tahunan (“RUPST”) AQ seperti termuat General Meeting of Shareholders (“AGMS”) of AQ
dalam Akta Pernyataan Keputusan Rapat No.15 as stipulated on Deed No.15 dated 13 September
tanggal 13 September 2008 yang dibuat di hadapan 2008 of Catherina Situmorang, S.H., Notary in
Catherina Situmorang, S.H., Notaris di Jakarta dan Jakarta and its amendment had been approved by
telah disetujui oleh Menteri Hukum dan Hak Asasi the Ministry of Law and Human Rights of the
Manusia Republik Indonesia dengan Surat Republic of Indonesia in a Decree Letter
Keputusan No.AHU-AH.01.10-18248 tanggal 18 Juli No.AHU-AH.01.10-18248 dated 18 July 2008.
2008.
BI dalam suratnya tertanggal 31 Desember 2008 BI in its letter dated 31 December 2008 had
telah menyetujui Bank untuk meningkatkan porsi approved the Bank to increase its ownership in AQ
kepemilikan atas AQ dari 90% menjadi 99% dan from 90% to 99% and increase AQ’s share capital
melakukan penambahan modal disetor AQ menjadi to become Rp100,000. Further, on 23 April 2009,
Rp100.000. Lebih lanjut, pada tanggal the Bank and ADMF entered into a sale and
23 April 2009, Bank dan ADMF telah purchase of shares agreement with minority
menandatangani perjanjian jual beli saham dengan shareholders of AQ whereby minority shareholders
pemegang saham minoritas AQ dimana pemegang agreed to sell, transfer, and assign 900 shares and
saham minoritas setuju untuk menjual, mengalihkan, 100 shares constituting 9% and 1% of the total
dan memindahkan 900 lembar dan 100 lembar issued shares of AQ to the Bank and ADMF which
saham setara dengan 9% dan 1% dari keseluruhan had been executed in May 2009. As a result, the
saham AQ kepada Bank dan ADMF yang telah Bank and ADMF increased their ownership in AQ
dilaksanakan pada bulan Mei 2009. Dengan by 10%. Confirmation and approval for such
demikian, kepemilikan Bank dan ADMF atas AQ transfer transaction had been obtained from AGMS
meningkat sebesar 10%. Penegasan dan of AQ stipulated on Deed No.12 dated 15 May
persetujuan atas transaksi pengalihan dari RUPS 2009 by P. Sutrisno A. Tampubolon, S.H.,M.Kn.,
AQ telah dimuat dalam Akta Pernyataan Keputusan Notary in Jakarta, which was received and
Pemegang Saham No.12 tanggal 15 Mei 2009 registered in Legal Entity Administrative System
dibuat oleh P. Sutrisno A. Tampubolon, S.H., M.Kn., Database of the Ministry of Law and Human Rights
Notaris di Jakarta, yang telah diterima serta dicatat of the Republic of Indonesia No.AHU-AH.01.10-
dalam Database Sistem Administrasi Badan Hukum 10739 dated 17 July 2009.
Kementerian Hukum dan Hak Asasi Manusia
Republik Indonesia No.AHU-AH.01.10-10739
tanggal 17 Juli 2009.
529


PT Adira Quantum Multifinance (AQ) (dalam PT Adira Quantum Multifinance (AQ) (in
likuidasi) (lanjutan) liquidation) (continued)
Penambahan modal disetor AQ menjadi Rp100.000 The increase in AQ’s share capital to reach
telah dimuat dalam Akta Penyataan Keputusan Rp100,000 was stipulated on Deed No.29 dated
Pemegang Saham No.29 tanggal 23 Juli 2009 dibuat 23 July 2009 by P. Sutrisno A. Tampubolon, S.H.,
oleh P. Sutrisno A. Tampubolon, S.H., M.Kn., M.Kn., Notary in Jakarta, and its amendment had
Notaris di Jakarta, dan telah disetujui perubahannya been approved by the Minister of Law and Human
oleh Menteri Hukum dan Hak Asasi Manusia Rights of the Republic of Indonesia in a Decree
Republik Indonesia dengan Surat Keputusan Letter No.AHU-39039.AH.01.02 dated 13 August
No.AHU-39039.AH.01.02 tanggal 13 Agustus 2009 2009 and was published in Supplement No.9659 to
dan telah diumumkan dalam Tambahan No.9659 the State Gazette of the Republic of Indonesia
pada Berita Negara Republik Indonesia No.65 No.65 dated 13 August 2010.
tanggal 13 Agustus 2010.
AQ telah menghentikan kegiatan operasional dan AQ has terminated its operation and in the
dalam proses likuidasi, berdasarkan RUPSLB AQ liquidation process, based on the EGMS of AQ as
yang dituangkan dalam Akta Pernyataan Keputusan stipulated in Deed of Shareholders Resolution
Pemegang Saham No.126 tanggal 22 Agustus 2017 No.126 dated 22 August 2017 by Hasbullah Abdul
yang dibuat di hadapan Hasbullah Abdul Rasyid, Rasyid, S.H., M.Kn., Notary in Jakarta. Based on
S.H., M.Kn., Notaris di Jakarta. Berdasarkan AQ’s request to OJK to cancel AQ’s business
permintaan AQ kepada OJK untuk mencabut izin license, the permission has been granted by OJK
usaha AQ, OJK telah mengabulkan permintaan on the Decision Letter of the Board of
tersebut dengan mencabut izin usaha berdasarkan Commissoners of OJK dated 21 December 2017
surat keputusan Dewan Komisioner OJK tertanggal No.KEP-103/D.05/2017. As of the issuance date of
21 Desember 2017 No.KEP-103/D.05/2017. Sampai the consolidated financial statements, AQ is still in
dengan tanggal laporan keuangan konsolidasian ini the process of liquidation settlement.
diterbitkan, AQ masih sedang dalam proses
penyelesaian likuidasi.
530

d. Dewan Komisaris dan Direksi d. Boards of Commissioners and Directors
Pada tanggal 31 Desember 2021 dan 2020, susunan As of 31 December 2021 dan 2020, the composition
Dewan Komisaris dan Direksi Bank adalah sebagai of the Bank’s Boards of Commissioners and Directors
berikut: are as follows:
2021 2020
Komisaris Utama Bpk./Mr. Takayoshi Futae Bpk./Mr. Takayoshi Futae President Commissioner
Wakil Komisaris Utama Bpk./Mr. Johanes Berchmans Kristiadi Bpk./Mr. Johanes Berchmans Kristiadi Independent Vice President
Independen Pudjosukanto Pudjosukanto Commissioner
Komisaris Bpk./Mr. Takanori Sazaki1) Bpk./Mr. Masamichi Yasuda6) Commissioner
Komisaris Bpk./Mr. Dan Harsono2) Bpk./Mr. Noriaki Goto6) Commissioner
Komisaris Bpk./Mr. Nobuya Kawasaki Bpk./Mr. Nobuya Kawasaki Commissioner
Komisaris Independen - Bpk./Mr. Made Sukada6) Independent Commissioner
Komisaris Independen Bpk./Mr. Peter Benyamin Stok Bpk./Mr. Peter Benyamin Stok Independent Commissioner
Komisaris Independen Ibu/Mrs. Hedy Maria Helena Lapian Ibu/Mrs. Hedy Maria Helena Lapian Independent Commissioner
Komisaris Independen Bpk./Mr. Halim Alamsyah3) - Independent Commissioner
Direktur Utama Bpk./Mr. Yasushi Itagaki Bpk./Mr. Yasushi Itagaki President Director
Wakil Direktur Utama - Ibu/Mrs. Michellina Laksmi Triwardhany 4) Vice President Director
Wakil Direktur Utama Bpk./Mr. Honggo Widjojo Kangmasto Bpk./Mr. Honggo Widjojo Kangmasto Vice President Director
Direktur Bpk./Mr. Herry Hykmanto Bpk./Mr. Herry Hykmanto Director
Direktur Bpk./Mr. Muljono Tjandra Bpk./Mr. Muljono Tjandra Director
Direktur - Bpk./Mr. Adnan Qayum Khan5) Director
Direktur Bpk./Mr. Heriyanto Agung Putra Bpk./Mr. Heriyanto Agung Putra Director
Direktur Bpk./Mr. Dadi Budiana Bpk./Mr. Dadi Budiana Director
Direktur Ibu/Mrs. Rita Mirasari Ibu/Mrs. Rita Mirasari Director
Direktur Bpk./Mr. Naoki Mizoguchi Bpk./Mr. Naoki Mizoguchi Director
1) 1)
Merujuk pada Surat Otoritas Jasa Keuangan (“OJK”) Referring to the Financial Services Authority (“OJK”) Letter
No.SR-229/PB.12/2021 tanggal 27 Agustus 2021 No.SR-229/PB.12/2021 dated 27 August 2021
Bpk. Takanori Sazaki telah lulus uji kemampuan dan kepatutan Mr. Takanori Sazaki has passing OJK fit and proper test.
dari OJK.
2) 2)
No.SR-298/PB.12/2021 tanggal 22 November 2021 No.SR-298/PB.12/2021 dated 22 November 2021
Bpk. Dan Harsono telah lulus uji kemampuan dan kepatutan dari Mr. Dan Harsono has passing OJK fit and proper test.
OJK.
3) 3)
Bpk. Halim Alamsyah telah lulus uji kemampuan dan kepatutan Mr. Halim Alamsyah has passing OJK fit and proper test.
dari OJK.
4) 4)
Pengunduran diri Ibu Michellina Laksmi Triwardhany efektif sejak The resignation of Mrs. Michellina Laksmi Triwardhany effective
tanggal 4 September 2021. since 4 September 2021.
5) 5)
Pengunduran diri Bpk. Adnan Qayum Khan efektif sejak tanggal The resignation of Mr. Adnan Qayum Khan effective since 24 July
24 Juli 2021. 2021.
6) 6)
Masa jabatan Bpk. Noriaki Goto, Bpk. Masamichi Yasuda dan Term of office of Mr. Noriaki Goto, Mr. Masamichi Yasuda, and
Bpk. Made Sukada berakhir pada RUPS Tahunan 30 April 2021. Mr. Made Sukada ended on the closing of Annual GMS on 30 April
2021.
Pada tanggal 31 Desember 2021, Bank dan Entitas As of 31 December 2021, the Bank and
Anak mempunyai 22.523 karyawan tetap dan 3.360 Subsidiaries had 22,523 permanent employees
karyawan tidak tetap (2020: 22.335 karyawan tetap and 3,360 non-permanent employees (2020:
dan 3.015 karyawan tidak tetap). 22,335 permanent employees and 3,015 non-
permanent employees).
e. Dewan Pengawas Syariah e. Sharia Supervisory Board
Susunan Dewan Pengawas Syariah pada tanggal The composition of the Sharia Supervisory Board
31 Desember 2021 dan 2020 adalah sebagai as of 31 December 2021 dan 2020 are as follows:
berikut:
2021 2020
Bpk./Mr. Prof. Dr. H. M. Din Bpk./Mr. Prof. Dr. H. M. Din

Ketua Syamsuddin Syamsuddin Chairman
Anggota Bpk./Mr. Dr. Hasanudin, M.Ag. Bpk./Mr. Dr. Hasanudin, M.Ag. Member
Anggota Bpk./Mr. Dr. Asep Supyadillah, M.Ag. Bpk./Mr. Dr. Asep Supyadillah, M.Ag. Member
531



f. Komite Audit f. Audit Committee
Susunan anggota Komite Audit pada tanggal The composition of the Audit Committee as of
31 Desember 2021 dan 2020 adalah sebagai 31 December 2021 dan 2020 are as follows:
berikut:
20211) 2020
Ketua Bpk./Mr. Peter Benyamin Stok Bpk./Mr. Peter Benyamin Stok Chairman
Bpk./Mr. Johanes Berchmans Kristiadi Bpk./Mr. Johanes Berchmans Kristiadi
Anggota Pudjosukanto Pudjosukanto Member
Anggota Bpk./Mr. Halim Alamsyah2) - Member
Anggota (Pihak Independen) Ibu/Mrs. Mawar IR Napitupulu Ibu/Mrs. Mawar IR Napitupulu (Independent Party) Member
Anggota (Pihak Independen) Bpk./Mr. Zainal Abidin Bpk./Mr. Zainal Abidin (Independent Party) Member
1) 1)
Kompisisi Komite Audit secara resmi disetujui dan ditetapkan pada The composition of Audit Committee was formally approved and
tanggal 17 September 2021 berdasarkan Resolusi Dewan established on 17 September 2021 based on the BOC
Komisaris dan Resolusi Direksi. Resolution and BOD Resolution.
2) 2)
Bpk. Halim Alamsyah telah lulus uji kemampuan dan kepatutan Mr. Halim Alamsyah has passing OJK fit and proper test
dari OJK.
g. Komite Pemantau Risiko g. Risk Oversight Committee
Susunan anggota Komite Pemantau Risiko pada The composition of the Risk Oversight Committee
tanggal 31 Desember 2021 dan 2020 adalah sebagai as of 31 December 2021 dan 2020 are as follows:
berikut:
20211) 2020
Ketua Ibu/Mrs. Hedy Maria Helena Lapian Bpk./Mr. Made Sukada Chairman
Anggota Bpk./Mr. Peter Benyamin Stok Bpk./Mr. Masamichi Yasuda Member
Anggota Bpk./Mr. Nobuya Kawasaki Bpk./Mr. Nobuya Kawasaki Member
Anggota Bpk./Mr. Dan Harsono2) - Member
Anggota (Pihak Independen) Ibu/Mrs. Mawar IR Napitupulu Ibu/Mrs. Mawar IR Napitupulu (Independent Party) Member
Anggota (Pihak Independen) Bpk./Mr. Zainal Abidin Bpk./Mr. Zainal Abidin (Independent Party) Member
Anggota (Pihak Independen) - Bpk./Mr. Manggi Taruna Habir3) (Independent Party) Member
1) 1)
Komposisi Komite Pemantau Risiko secara resmi disetujui dan The composition of Risk Oversight Committee was formally
ditetapkan pada tanggal 17 September 2021 berdasarkan Resolusi approved and established on 17 September 2021 based on the
Dewan Komisaris dan Resolusi Direksi. BOC Resolution and BOD Resolution.
2) 2)
Bpk. Dan Harsono telah lulus uji kemampuan dan kepatutan dari Mr. Dan Harsono has passing OJK fit and proper test.
OJK.
3) 3)
Bpk. Manggi Taruna Habir mengundurkan diri sebagai The Resignation of Mr. Manggi Taruna Habir as Independent
Pihak/Penasehat Independen dan anggota Komite Pemantau Party/Advisor and member of Risk Oversight Committee
Risiko efektif 31 Desember 2020. effective as of 31 December 2020.
h. Komite Nominasi h. Nomination Committee

Susunan anggota Komite Nominasi pada tanggal The composition of the Nomination Committee as of
31 Desember 2021 dan 2020 adalah sebagai berikut: 31 December 2021 dan 2020 are as follows:
20211) 2020
Bpk./Mr. Johanes Berchmans Kristiadi Bpk./Mr. Johanes Berchmans

Ketua Pudjosukanto Kristiadi Pudjosukanto Chairman
Anggota Bpk./Mr. Takayoshi Futae Bpk./Mr. Takayoshi Futae Member
Anggota Ibu/Mrs. Hedy Maria Helena Lapian Bpk./Mr. Made Sukada Member
Anggota Bpk./Mr. Takanori Sazaki2) Bpk./Mr. Noriaki Goto Member
Anggota Bpk./Mr. Roy Fahrizal Permana Bpk./Mr. Roy Fahrizal Permana Member
1) 1)
Komposisi Komite Nominasi secara resmi disetujui dan ditetapkan The composition of Nomination Committee was formally
pada tanggal 17 September 2021 berdasarkan Resolusi Dewan approved and established on 17 September 2021 based on the
Komisaris dan Resolusi Direksi. BOC Resolution and BOD Resolution.
2) 2)
Bpk. Takanori Sazaki telah lulus uji kemampuan dan kepatutan dari Mr. Takanori Sazaki has passing OJK fit and proper test.
OJK.
532

i. Komite Remunerasi i. Remuneration Committee
Susunan anggota Komite Remunerasi pada tanggal The composition of the Remuneration Committee
31 Desember 2021 dan 2020 adalah sebagai on 31 December 2021 dan 2020 are as follows:
berikut:
20211) 2020
Bpk./Mr. Johanes Berchmans Bpk./Mr. Johanes Berchmans

Ketua Kristiadi Pudjosukanto Kristiadi Pudjosukanto Chairman
Anggota Bpk./Mr. Takayoshi Futae Bpk./Mr. Takayoshi Futae Member
Anggota Ibu/Mrs. Hedy Maria Helena Lapian Bpk./Mr. Made Sukada Member
Anggota Bpk./Mr. Takanori Sazaki 2) Bpk./Mr. Noriaki Goto Member
ae
Anggota Bpk./Mr. Roy Fahrizal Permana Bpk./Mr. Roy Fahrizal Permana Member
1) 1)
Komposisi Komite Remunerasi secara resmi disetujui dan The composition of Remuneration Committee was formally
ditetapkan pada tanggal 17 September 2021 berdasarkan approved and established on 17 September 2021 based on the
Resolusi Dewan Komisaris dan Resolusi Direksi. BOC Resolution and BOD Resolution.
2) 2)
Bpk. Takanori Sazaki telah lulus uji kemampuan dan kepatutan Mr. Takanori Sazaki has passing OJK fit and proper test.
dari OJK.
j. Komite Corporate Governance j. Corporate Governance Committee
Susunan anggota Komite Corporate Governance The Corporate Governance Committee as of

pada tanggal 31 Desember 2021 dan 2020 adalah 31 December 2021 dan 2020 are as follows:
sebagai berikut:
20211) 2020
Anggota Ibu/Mrs. Hedy Maria Helena Lapian Bpk./Mr. Made Sukada3) Member
Anggota Bpk./Mr. Halim Alamsyah2) Bpk./Mr. Masamichi Yasuda 3) Member
1) 1)
Komposisi Komite Corporate Governance secara resmi disetujui The composition of Corporate Governance Committee was
dan ditetapkan pada tanggal 17 September 2021 berdasarkan formally approved and established on 17 September 2021
Resolusi Dewan Komisaris dan Resolusi Direksi. based on the BOC Resolution and BOD Resolution.
2) 2)
dari OJK.
3) 3)
Masa jabatan Bpk. Masamichi Yasuda dan Bpk. Made Sukada Term of office of Mr. Masamichi Yasuda and Mr. Made Sukada
berakhir pada RUPS Tahunan 30 April 2021. ended on the closing of Annual GMS on 30 April 2021.
533



k. Komite Tata Kelola Terintegrasi k. Integrated Corporate Governance Committee
Susunan anggota Komite Tata Kelola Terintegrasi The composition of the Integrated Corporate
pada tanggal 31 Desember 2021 dan 2020 adalah Governance Committee as of and 31 December
sebagai berikut: 2021 dan 2020 are as follows:
20211) 2020
Anggota - Bpk./Mr. Masamichi Yasuda 4) Member
Anggota Bpk./Mr. Prof. Dr. H. M. Din Syamsuddin Bpk./Mr. Prof. Dr. H. M. Din Syamsuddin Member
Anggota Bpk./Mr. Krisna Wijaya2) Bpk./Mr. Djoko Sudyatmiko Member
Anggota Bpk./Mr. Zainal Abidin Bpk./Mr. Zainal Abidin Member
Anggota Bpk/Mr. Ramanathan Sivabalan2) Bpk/Mr. Kevin Ludwick Member
Anggota Bpk/Mr. Tatsuya Ishikawa Bpk/Mr. Tatsuya Ishikawa Member
Anggota Bpk/Mr. Andre S.Painchaud Bpk/Mr. Andre S.Painchaud Member
Anggota Bpk./Mr. Halim Alamsyah3) Bpk/Mr. Adam Hartono Asihin Member
1) 1)
Komposisi Komite Tata Kelola Terintegrasi secara resmi disetujui The composition of Integrated Corporate Governance Committee
dan ditetapkan pada tanggal 17 September 2021 berdasarkan was formally approved and established on 17 September 2021
Resolusi Dewan Komisaris dan Resolusi Direksi. based on the BOC Resolution and BOD Resolution.
2) 2)
Sehubungan dengan adanya perubahan keanggotaan dalam In relation to the change in members of the financial
konglomerasi keuangan, terdapat penambahan 2 anggota baru conglomerate, there were addition of 2 new members,
yaitu Bpk. Ramanathan Sivabalan yang mewakili MUFG Bank, Mr. Ramanathan Sivabalan who represented MUFG Bank, Ltd.
Ltd. (cabang Jakarta), serta Bpk. Krisna Wijaya yang mewakili (Jakarta branch), and Mr. Krisna Wijaya who represented
PT Adira Dinamika Multi Finance Tbk. PT Adira Dinamika Multi Finance Tbk.
3) 3)
dari OJK.
4) 4)
Masa jabatan Bpk. Masamichi Yasuda berakhir pada RUPS Term of office of Mr. Masamichi Yasuda ended on the closing of
Tahunan 30 April 2021. Annual GMS on 30 April 2021.
l. Sekretaris Perusahaan l. Corporate Secretary
Sekretaris perusahaan Bank pada tanggal The Corporate Secretary of the Bank as of
31 Desember 2021 dan 2020 adalah Rita Mirasari. 31 December 2021 dan 2020 was Rita Mirasari.
m. Satuan Kerja Audit Intern m. Internal Audit Task Force
Pada tanggal 31 Desember 2021 dan 2020 Kepala As of 31 December 2021 and 2020 Yenny Linardi is
Satuan Kerja Audit Internal (SKAI) adalah Yenny the Chief Internal Audit Unit (SKAI).
Linardi.
n. Tanggal diotorisasi Laporan Keuangan n. Authorization date of The Consolidated

Konsolidasian Financial Statements
Laporan keuangan konsolidasian Bank dan Entitas The consolidated financial statements of the Bank
Anak diotorisasi untuk terbit oleh Direksi pada and Subsidiaries were authorized for issue by the
tanggal 28 Januari 2022. Board of Directors on 28 January 2022.
534

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

SIGNIFIKAN
Kebijakan akuntansi signifikan, kecuali yang disebutkan di The significant accounting policies, other than those
Catatan 2c yang diterapkan secara konsisten dalam mentioned in Note 2c applied consistently in the
penyusunan laporan keuangan konsolidasian Bank dan preparation of the consolidated financial statements of the
Entitas Anak pada tanggal dan untuk tahun yang berakhir Bank and Subsidiaries as of and for the year ended
pada tanggal 31 Desember 2021 dan 2020 adalah 31 December 2021 dan 2020 as follows:
sebagai berikut:
a. Pernyataan kepatuhan a. Statement of compliance
Laporan keuangan konsolidasian telah disusun dan The consolidated financial statements have been
disajikan sesuai dengan Standar Akuntansi prepared and presented in accordance with
Keuangan di Indonesia yang mencakup Pernyataan Indonesian Financial Accounting Standards which
dan Interpretasi yang dikeluarkan oleh Dewan comprise the Statements and Interpretations issued
Standar Akuntansi Keuangan Ikatan Akuntan by the Board of Financial Accounting Standards of
Indonesia. the Indonesian Institute of Accountants.
Laporan keuangan konsolidasian juga disusun dan The consolidated financial statements have also
disajikan sesuai dengan peraturan Badan Pengawas been prepared and presented in accordance with
Pasar Modal dan Lembaga Keuangan (”BAPEPAM- Capital Market and Financial Institutions Supervisory
LK”), yang fungsinya dialihkan kepada Otoritas Jasa Agency (”BAPEPAM-LK”), whose function has been
Keuangan (”OJK”) sejak tanggal transferred to the Financial Services Authority
1 Januari 2013) No.VIII.G.7 yang merupakan (”OJK”) starting 1 January 2013), rule No.VIII.G.7,
Lampiran Keputusan Ketua BAPEPAM-LK Appendix of the Decree of the Chairman of the
No.KEP-347/BL/2012 tanggal 25 September 2012 BAPEPAM-LK No.KEP-347/BL/2012 dated
tentang ”Penyajian dan Pengungkapan Laporan 25 September 2012 regarding ”Financial Statements
Keuangan Emiten atau Perusahaan Publik”. Presentation and Disclosure of the Issuer or Public
Company”.
Laporan keuangan unit usaha syariah disajikan The sharia business unit’s financial statements have
sesuai dengan Standar Akuntansi Keuangan been presented in accordance with Sharia Financial
Syariah dan Standar Akuntansi Keuangan lainnya Accounting Standards and other Financial
yang diterbitkan oleh Ikatan Akuntan Indonesia. Accounting Standards as issued by the Indonesian
Institute of Accountants.
b. Dasar penyusunan laporan keuangan b. Basis for preparation of the consolidated

konsolidasian financial statements
Laporan keuangan konsolidasian disusun The consolidated financial statements were

berdasarkan konsep nilai historis dan atas dasar prepared on the accrual basis and under the
akrual, kecuali dinyatakan khusus. historical cost concept, unless otherwise specified.
Biaya historis umumnya didasarkan pada nilai wajar Historical cost is generally based on the fair value of
dari imbalan yang diberikan dalam pertukaran the consideration given in exchange for goods and
barang dan jasa. services.
Nilai wajar adalah harga yang akan diterima untuk Fair value is the price that would be received to sell
menjual suatu aset atau harga yang akan dibayar an asset or paid to transfer a liability in an orderly
untuk mengalihkan suatu liabilitas dalam suatu transaction between market participants at the
transaksi teratur antara pelaku pasar pada tanggal measurement date.
pengukuran.
535




SIGNIFIKAN (lanjutan) (continued)
b. Dasar penyusunan laporan keuangan b. Basis for preparation of the consolidated

konsolidasian (lanjutan) financial statements (continued)
Laporan arus kas konsolidasian disusun dengan The consolidated statements of cash flows are
menggunakan metode langsung dengan prepared based on direct method by classifying cash
mengelompokkan arus kas ke dalam kegiatan flows on the basis of operating, investing, and
operasi, investasi, dan pendanaan. Untuk tujuan financing activities. For the purpose of consolidated
laporan arus kas konsolidasian, kas dan setara kas statements of cash flows, cash and cash equivalents
mencakup kas, giro pada Bank Indonesia, giro pada include cash, current accounts with Bank Indonesia,
bank lain, penempatan pada bank lain dan Bank current accounts with other banks, placements with
Indonesia, dan Sertifikat Bank Indonesia yang jatuh other banks and Bank Indonesia, and Certificates of
tempo dalam waktu tiga bulan sejak tanggal Bank Indonesia that mature within three-months
perolehan, sepanjang tidak digunakan sebagai from the date of acquisition, as long as they are not
jaminan atas pinjaman yang diterima serta tidak being pledged as collateral for borrowings nor
dibatasi penggunaannya. restricted.
Dalam penyusunan laporan keuangan The preparation of consolidated financial statements

konsolidasian sesuai dengan Standar Akuntansi in conformity with Indonesian Financial Accounting
Keuangan di Indonesia, dibutuhkan pertimbangan, Standards requires the use of judgements,
estimasi, dan asumsi yang mempengaruhi: estimates, and assumptions that affect:
 penerapan kebijakan akuntansi;  the application of accounting policies;
 jumlah aset dan liabilitas yang dilaporkan, dan  the reported amounts of assets and liabilities and
pengungkapan atas aset dan liabilitas kontinjensi disclosure of contingent assets and liabilities at the
pada tanggal laporan keuangan konsolidasian; date of the consolidated financial statements;
 jumlah pendapatan dan beban yang dilaporkan  the reported amounts of income and expenses
selama tahun pelaporan. during the reporting year.
Walaupun estimasi ini dibuat berdasarkan Although these estimates are based on
pengetahuan terbaik manajemen atas kejadian dan management’s best knowledge of current events
tindakan saat ini, hasil aktual mungkin berbeda and activities, actual results may differ from those
dengan jumlah yang diestimasi semula. estimates.
Estimasi dan asumsi yang digunakan ditelaah Estimates and underlying assumptions are reviewed
secara berkesinambungan. Revisi atas estimasi on an ongoing basis. Revisions to accounting
akuntansi diakui pada tahun dimana estimasi estimates are recognized in the year in which the
tersebut direvisi dan tahun yang akan datang yang estimate is revised and in any future year affected.
dipengaruhi oleh revisi estimasi tersebut.
Secara khusus, informasi mengenai hal-hal penting In particular, information about significant areas of
yang terkait dengan ketidakpastian estimasi dan estimation uncertainty and critical judgements in
pertimbangan penting dalam penerapan kebijakan applying accounting policies that have significant
akuntansi yang memiliki dampak yang signifikan effect on the amounts recognized in the consolidated
terhadap jumlah yang diakui dalam laporan financial statements are described in Note 3.
keuangan konsolidasian dijelaskan dalam
Catatan 3.
Seluruh angka dalam laporan keuangan Figures in these consolidated financial statements
konsolidasian ini dibulatkan menjadi jutaan Rupiah are rounded to and stated in millions of Rupiah,
yang terdekat, kecuali dinyatakan secara khusus. unless otherwise stated.
536


SIGNIFIKAN (lanjutan) (continued)
c. Perubahan kebijakan akuntansi c. Changes in accounting policies
Berikut ini adalah standar, perubahan dan The following standards, amendments and
interpretasi yang berlaku efektif sejak tanggal interpretations became effective since 1 January
1 Januari 2021 dan relevan bagi Bank dan Entitas 2021 and are relevant to the Bank and Subsidiaries:
Anak:
 PSAK 112 “Akuntansi Wakaf”. PSAK 112  PSAK 112 “Accounting for Wakaf
mengatur tentang perlakuan akuntansi atas (Endowments)”. PSAK 112 regulates the
transaksi wakaf yang dilakukan baik oleh nazhir accounting treatment for wakaf transactions
maupun wakif yang berbentuk organisasi dan carried out by both nazhir and wakif in the form
badan hukum. PSAK 112 dapat juga diterapkan of organizations and legal entities. PSAK 112
oleh nazhir perorangan; can also be applied by individual nazhir;
 Amandemen PSAK 22 “Kombinasi Bisnis”.  Amendment to PSAK 22 "Business
Amandemen ini mengklarifikasi definisi bisnis Combination". This amendment clarifies
dengan tujuan untuk membantu entitas dalam definition of a business to assist an entity
menentukan apakah suatu transaksi determines whether a transaction is recorded as
seharusnya dicatat sebagai kombinasi bisnis business combination or assets acquisition;
atau akuisisi aset;
 Amandemen PSAK 71 “Instrumen Keuangan”,  Amendment to PSAK 71 “Financial

Amandemen PSAK 55 “Instrumen Keuangan: Instruments”, Amendment to PSAK 55
Pengakuan dan Pengukuran”, Amandemen “Financial Instruments: Recognition and
PSAK 60 “Instrumen Keuangan: Measurement”, Amendment to PSAK 60
Pengungkapan”, Amandemen PSAK 62 “Financial Instruments: Disclosures”,
“Kontrak Asuransi”, Amandemen PSAK 73 Amendment PSAK 62 “Insurance Contracts”,
“Sewa” tentang Reformasi Acuan Suku Bunga - Amendment to PSAK 73 “Lease” regarding
Tahap 2. Reformasi Acuan Suku Bunga - Tahap Interest Rate Benchmark Reform - Phase 2.
2 membahas isu yang mungkin mempengaruhi Interest Rate Benchmark Reform - Phase 2
pelaporan keuangan selama reformasi acuan addresses issues that might affect financial
suku bunga, termasuk dampak perubahan arus reporting after the reform of an interest rate
kas kontraktual atau hubungan lindung nilai benchmark, including impact of change in
yang timbul dari penggantian acuan suku bunga contractual cashflow or hedge accounting due to
dengan acuan alternatif yang baru; replacement of interest rate benchmark with
alternative benchmark rates;
 Penyesuaian Tahunan PSAK 110 “Akuntansi  Annual Improvements PSAK 110 “Sukuk
Sukuk”. Penyesuaian ini memberikan klarifikasi Accounting”. This improvement provides
saat pengakuan awal dari investasi pada sukuk. clarification on initital recognition of investment
Penyesuaian Tahunan PSAK 110 ini juga in sukuk. This Annual Improvements PSAK 110
berdampak pada PSAK 111 “Akuntansi Wa’d” also impact PSAK 111 “Wa’d Accounting” which
yang merujuk pada PSAK 110; refer to PSAK 110;
 Amandemen PSAK 73 “Sewa” tentang Konsesi  Amendment to PSAK 73 “Lease” regarding

Sewa terkait COVID-19 setelah 30 Juni 2021. Lease Consession related to COVID-19 after
Amandemen ini memperpanjang cakupan 30 June 2021. This amendment extend the
periode konsesi sewa, yang merupakan salah scope of lease concession period, which is one
satu syarat penerapan cara praktis, menjadi of the requirement for practical implementation,
30 Juni 2022. Amandemen ini berlaku setelah to 30 June 2022. This amendment became
1 April 2021 dengan penerapan dini diizinkan. effective since 1 April 2021 with initial
implementation allowed.
537



2. IKHTISAR KEBIJAKAN AKUNTANSI YANG 2. SUMMARY OF SIGNIFICANT ACCOUNTING

SIGNIFIKAN (lanjutan) POLICIES (continued)
d. Prinsip konsolidasian dan ekuitas d. Consolidation principles and equity

accounting
d.1. Entitas Anak d.1. Subsidiary
Bank mengendalikan entitas anak ketika Bank The Bank controls a subsidiaries when the
terekspos atau memiliki hak atas imbal hasil Bank is exposed to, or has rights to, variable
variabel dari keterlibatannya dengan entitas returns from its involvement with the
anak dan memiliki kemampuan untuk subsidiaries and has the ability to affect those
mempengaruhi imbal hasil tersebut melalui returns through its power over the
kekuasaannya atas entitas anak. subsidiaries.
Entitas Anak dikonsolidasikan sejak tanggal Subsidiaries are consolidated from the date
kendali atas Entitas Anak tersebut beralih on which control is transferred to the Bank
kepada Bank dan sesuai dengan persetujuan and as approved by BI for the capital
penyertaan modal dari BI dan tidak lagi investment and are no longer consolidated
dikonsolidasikan sejak tanggal kendali tidak from the date that control ceases. The
lagi dimiliki oleh Bank. Laporan keuangan financial statements of Subsidiaries have
Entitas Anak telah disusun dengan been prepared using uniform accounting
menggunakan kebijakan akuntansi yang sama policies for similar transactions and other
dengan kebijakan akuntansi yang diterapkan events in similar circumstances.
oleh Bank untuk transaksi yang serupa dan
kejadian lain dalam keadaan yang serupa.
Akuisisi Entitas Anak dicatat dengan Acquisitions of Subsidiaries are accounted for
menggunakan metode akuntansi pembelian. using the purchase method accounting. The
Biaya akuisisi diukur sebesar nilai wajar aset cost of an acquisition is measured at the fair
yang diserahkan dan saham yang diterbitkan value of the assets given up and shares
atau liabilitas yang diambil alih pada tanggal issued or liabilities assumed at the date of
akuisisi. Kelebihan biaya akuisisi atas nilai acquisition. The excess of the acquisition cost
wajar aset neto Entitas Anak dicatat sebagai over the fair value of the net assets of the
goodwill (Catatan 2s). Subsidiaries acquired is recorded as goodwill
(Note 2s).
Transaksi signifikan antar Bank dan Entitas Significant intercompany transactions,

Anak, saldo dan keuntungan signifikan yang balances and unrealized gains on
belum direalisasi dari transaksi, dieliminasi. transactions between the Bank and
Kerugian yang belum direalisasi juga Subsidiaries are eliminated. Unrealized
dieliminasi, kecuali apabila harga perolehan losses are also eliminated unless cost cannot
tidak dapat diperoleh kembali. be recovered.
Bank mengukur kepentingan non-pengendali The Bank measures non-controlling interests

atas basis proporsional pada jumlah yang at its proportionate share of the recognized
diakui atas aset neto yang diidentifikasi pada amount of the identifiable net assets at
tanggal akuisisi. Kepentingan non-pengendali acquisition date. Non-controlling interests are
disajikan di ekuitas dalam laporan posisi presented within equity in the consolidated
keuangan konsolidasian, terpisah dari pemilik statement of financial position, separately
entitas induk. Laba atau rugi dari setiap from the equity holders of the parent entity.
komponen penghasilan komprehensif lain Profit or loss and each component of other
dialokasikan kepada pemilik entitas induk dan comprehensive income are allocated to the
kepentingan non-pengendali. equity holders of the parent entity and non-
controlling interests.
538


d. Prinsip konsolidasian dan ekuitas (lanjutan) d. Consolidation principles and equity
accounting (continued)
d.2. Entitas Asosiasi d.2. Associate Entity
Bank tidak lagi mengkonsolidasikan investasi Bank ceases to consolidate an investment

karena hilangnya pengendalian, maka because of a loss of control, any retained
kepentingan yang masih tersisa atas entitas interest in the entity is remeasured to its fair
diukur kembali berdasarkan nilai wajarnya, dan value at the date when the control is lost, with
perubahan nilai tercatat diakui dalam laporan the change in carrying amount recognized in
laba rugi. Nilai tercatat awal adalah sebesar nilai profit or loss. The fair value is the initial carrying
wajar untuk kepentingan pengukuran kembali amount for the purposes of subsequently
kepentingan yang tersisa sebagai Entitas accounting for the retained interest as an
Asosiasi. associate.
Entitas Asosiasi adalah entitas dimana Bank Associate is an entity over which the Bank has
memiliki pengaruh signifikan namun bukan significant influence but not control, generally
pengendalian, biasanya melalui kepemilikan hak accompanying a shareholding of between
suara antara 20% dan 50%. Investasi Entitas 20% and 50% of the voting rights. Investment
Asosiasi dicatat dengan metode ekuitas. in Associate is accounted for using the equity
method of accounting.
Sesuai metode ekuitas, investasi selanjutnya Under the equity method, the investment is
disesuaikan untuk mengakui bagian Bank atas adjusted thereafter to recognize the Bank's
laba rugi pasca akuisisi dari Entitas Asosiasi share of the post-acquisition profits or losses
atas laba rugi, dan bagiannya dalam pergerakan of the Associate in profit or loss, and its share
pendapatan komprehensif lainnya dari Entitas of movements in other comprehensive income
Asosiasi atas pendapatan komprehensif lainnya. of Associate in other comprehensive income.
Jika bagian Bank atas kerugian Entitas Asosiasi When the Bank’s share of losses in an
sama dengan atau melebihi kepentingannya Associate equals or exceeds its interest in the
pada Entitas Asosiasi, termasuk piutang tanpa Associate, including any other unsecured
agunan, Bank menghentikan pengakuan bagian receivables, the Bank does not recognize
kerugiannya, kecuali Bank memiliki kewajiban further losses, unless it has incurred legal or
atau melakukan pembayaran atas nama Entitas constructive obligations or made payments on
Asosiasi. behalf of the Associate.
Keuntungan yang belum terealisasi atas Unrealized gains on transactions between the
transaksi antara Bank dengan Entitas Asosiasi Bank and its Associate are eliminated to the
dieliminasi sebesar kepentingan Bank dalam extent of the Bank’s interest in this entity.
entitas tersebut. Kerugian yang belum Unrealized losses are also eliminated unless
terealisasi juga dieliminasi kecuali transaksi the transaction provides evidence of an
tersebut memberikan bukti adanya penurunan impairment of the asset transferred.
nilai aset yang dialihkan. Kebijakan akuntansi Accounting policies of the Associate has been
Entitas Asosiasi telah diubah jika diperlukan changed where necessary to ensure
untuk memastikan konsistensi dari kebijakan consistency with the policies adopted by the
yang diterapkan oleh Bank. Bank.
Dividen yang diterima dan yang akan diterima Dividends received or receivable from
dari Entitas Asosiasi diakui sebagai pengurang Associate is recognized as reduction in the
jumlah tercatat investasi. carrying amount of the investment.
Pada setiap tanggal pelaporan, Bank The Bank determines at each reporting date
menentukan apakah terdapat bukti objektif whether there is any objective evidence that
bahwa telah terjadi penurunan nilai pada the investment in the Associate is impaired. If
investasi pada Entitas Asosiasi. Jika demikian, this is the case, the carrying amount of the
maka nilai tercatat dari investasi yang dicatat equity accounting investments is tested for
dengan akuntansi ekuitas diuji untuk penurunan impairment.
nilai.
539




e. Penjabaran mata uang asing e. Foreign currency translation
e.1. Mata uang pelaporan e.1. Reporting currency
Laporan keuangan konsolidasian dinyatakan The consolidated financial statements are

dalam Rupiah, yang merupakan mata uang presented in Rupiah, which is the functional
fungsional Bank dan Entitas Anak. currency of the Bank and Subsidiaries.
e.2. Transaksi dan saldo e.2. Transactions and balances
Transaksi dalam mata uang asing dijabarkan ke Transactions denominated in foreign currencies
dalam Rupiah dengan menggunakan kurs yang are translated into Rupiah at the exchange
berlaku pada tanggal transaksi. Pada tanggal rates prevailing at the transaction date. At the
pelaporan, aset dan liabilitas moneter dalam mata reporting date, monetary assets and liabilities
uang asing dijabarkan ke dalam Rupiah dengan denominated in foreign currencies are
kurs yang berlaku pada tanggal tersebut. translated into Rupiah using the exchange rates
prevailing at that date.
Keuntungan dan kerugian selisih kurs yang timbul Exchange gains and losses arising from
dari transaksi dalam mata uang asing dan dari transactions in foreign currencies and from the
penjabaran aset dan liabilitas moneter dalam mata translation of foreign currency monetary assets
uang asing, diakui pada laba rugi tahun berjalan. and liabilities are recognized to the current year
profit or loss.
Berikut ini adalah kurs mata uang asing utama yang Below are the major exchange rates used as of
digunakan pada bulan 31 Desember 2021 dan 2020 31 December 2021 dan 2020 using the Reuters’
yang menggunakan kurs tengah Reuters pukul 16:00 middle rates at 16:00 Western Indonesian Time (full
Waktu Indonesia Barat (nilai penuh): amount):
2021 2020
Dolar Amerika Serikat 14.253 14.050 United States Dollar
Dolar Australia 10.347 10.752 Australian Dollar
Dolar Singapura 10.555 10.606 Singapore Dollar
Euro Eropa 16.112 17.234 European Euro
Yen Jepang 124 136 Japanese Yen
Poundsterling Inggris 19.251 19.012 Great Britain Poundsterling
Dolar Hong Kong 1.828 1.812 Hong Kong Dollar
Franc Swiss 15.585 15.901 Swiss Franc
Baht Thailand 429 468 Thailand Baht
Dolar Selandia Baru 9.732 10.088 New Zealand Dollar
Dolar Canada 11.193 10.981 Canadian Dollar
Yuan China 2.236 2.150 China Yuan
Kroner Swedia 1.571 1.714 Swedia Kroner
f. Aset dan liabilitas keuangan f. Financial assets and liabilities
f.1. Klasifikasi f.1. Classification
Sesuai PSAK 71, terdapat tiga klasifikasi In accordance with PSAK 71, there are three
pengukuran aset keuangan: yaitu biaya perolehan measurement classifications for financial
diamortisasi, diukur pada nilai wajar melalui laba assets: amortized cost, fair value through profit
rugi (“FVTPL”), dan diukur pada nilai wajar melalui or loss (“FVTPL”) and fair valule through other
penghasilan komprehensif lain (“FVOCI”). comprehensive income (“FVOCI”).
Aset keuangan diklasifikasikan menjadi kategori Financial assets are classified into these
tersebut di atas berdasarkan model bisnis dimana categories based on the business model within
aset keuangan tersebut dimiliki, dan karakteristik which they are held, and their contractual cash
arus kas kontraktualnya. Model bisnis flow characteristics. The business model
merefleksikan bagaimana kelompok aset reflects how groups of financial assets are
keuangan dikelola untuk mencapai tujuan bisnis managed to achieve a particular business
tertentu. objective.
540


f. Aset dan liabilitas keuangan (lanjutan) f. Financial assets and liabilities (continued)
f.1. Klasifikasi (lanjutan) f.1. Classification (continued)
Aset keuangan hanya dapat dikategorikan sebagai Financial assets can only be categorized at
biaya perolehan diamortisasi jika instrumen dimiliki amortized cost if the instruments are held in order
dalam rangka mendapatkan arus kas kontraktual to collect the contractual cash flows (“hold to
(“hold to collect”), dan dimana arus kas kontraktual collect”), and where those contractual cash flows
tersebut semata dari pembayaran pokok dan bunga are solely payments of principal and interest
(“SPPI”). Pokok merupakan nilai wajar dari (“SPPI”). Principal represents the fair value of the
instrumen pada saat pengakuan awal. Bunga dalam instrument at the time of initial recognition. Interest
hal ini merupakan kompensasi untuk nilai waktu in this context represents compensation for the
uang dan risiko kredit terkait beserta kompensasi time value of money and associated credit risks
untuk risiko lain dan biaya yang konsisten dengan together with compensation for other risks and
persyaratan dalam peminjaman standar dan marjin costs consistent with a basic lending arrangement
laba. Kategori aset ini membutuhkan penilaian and a profit margin. This requires an assessment
persyaratan kontraktual pada saat pengakuan awal at initial recognition of the contractual terms to
untuk menentukan apakah kontrak mengandung determine whether it contains a term that could
persyaratan yang dapat mengubah waktu atau change the timing or amount of cash flows in a way
jumlah dari arus kas yang tidak konsisten dengan that is inconsistent with the SPPI criteria.
persyaratan SPPI.
Dalam menilai apakah arus kas kontraktual memiliki In assessing whether the contractual cash flows
karakteristik SPPI, Bank dan Entitas Anak have SPPI characteristics, the Bank and
mempertimbangkan persyaratan kontraktual atas Subsidiaries considers the contractual terms of the
instrumen tersebut. Hal ini termasuk dalam hal instrument. This includes assessing whether the
menilai apakah aset keuangan mengandung financial asset contains a contractual term that
ketentuan kontraktual yang dapat mengubah waktu could change the timing or amount of contractual
atau jumlah arus kas kontraktual sehingga tidak cash flows such that it would not meet this
dapat memenuhi kondisi SPPI. Dalam melakukan condition. In making the assessment, the Bank
penilaian, Bank dan Entitas Anak and Subsidiaries considers:
mempertimbangkan:
 Kejadian kontinjensi yang akan mengubah  Contingent events that would change the
jumlah dan waktu arus kas; amount and timing of cash flows;
 Fitur leverage; dan  Leverage features; and
 Persyaratan pelunasan dipercepat atau  Prepayment and extension terms.
perpanjangan fasilitas.
 Ketentuan yang membatasi klaim Bank atas  Terms that limit the Bank cash flows from
arus kas dari aset tertentu (seperti pinjaman specified assets (e.g. non-recourse loans);
non-recourse); dan and
 Fitur yang memodifikasi imbalan dari nilai  Features that modify consideration of the
waktu atas uang (seperti penetapan ulang time value of money (e.g. periodical reset of
suku bunga berkala). interest rates).
541




Aset dapat dijual dari portofolio hold to collect ketika Assets may be sold out of hold to collect portfolios
terdapat peningkatan risiko kredit. Penghentian where there is an increase in credit risk. Disposals
untuk alasan lain diperbolehkan, namun jumlah for other reasons are permitted, but such sales
penjualan tersebut harus tidak signifikan jumlahnya should be insignificant in value or infrequent in
atau tidak sering. nature.
Aset keuangan berupa instrumen utang dimana Financial asset debt instruments where the
tujuan model bisnis dicapai dengan mendapatkan business model objectives are achieved by
arus kas kontraktual dan menjual aset (“hold to collecting the contractual cash flows and by selling
collect and sell”/”HTCS”) dan memiliki arus kas the assets (“hold to collect and sell”/”HTCS”) and
SPPI, diklasifikasikan sebagai FVOCI, dengan laba that have SPPI cash flows are classified as
rugi yang belum direalisasi ditangguhkan di FVOCI, with unrealized gains or losses deferred in
pendapatan komprehensif lain sampai aset tersebut other comprehensive income until the asset is
dihentikan. derecognized.
Seluruh aset keuangan lainnya akan diklasifikasikan All other financial assets will be classified at
sebagai FVTPL. Aset keuangan dapat ditetapkan FVTPL. Financial assets may be designated at
sebagai FVTPL hanya jika ini dapat mengeliminasi FVTPL only if doing so eliminates or reduces an
atau mengurangi accounting mismatch. accounting mismatch.
Penilaian model bisnis Business model assessment
Model bisnis mengacu pada bagaimana aset Business model refers to how financial assets are
keuangan dikelola bersama untuk menghasilkan managed together to generate cash flows for the
arus kas untuk Bank dan Entitas Anak. Arus kas Bank and Subsidiaries. This may be collecting
mungkin dihasilkan dengan menerima arus kas contractual cash flows, selling financial assets or
kontraktual, menjual aset keuangan atau keduanya. both. Business models are determined at a level
Model bisnis ditentukan pada tingkat agregasi di of aggregation where groups of assets are
mana kelompok aset dikelola bersama untuk managed together to achieve a particular objective
mencapai tujuan tertentu dan tidak bergantung pada and do not depend on management's intentions
niat manajemen pada instrumen individual. for individual instruments.
Bank dan Entitas Anak menilai model bisnis pada The Bank and Subsidiaries assesses the business
aset keuangan setidaknya pada tingkat lini bisnis model of financial assets at least at business line
atau pada di mana terdapat variasi mandat/tujuan level or where there are varying mandates or
dalam lini bisnis, pada lini bisnis produk atau pada objectives within a business line, at a more
tingkat desk yang lebih granular (misalnya sub- granular product business line or desk level (i.e.
portofolio atau sub-lini bisnis). sub-portfolios or sub-business lines).
Penentuan model bisnis dilakukan dengan Business model determinations are made
mempertimbangkan semua bukti relevan yang considering all relevant evidence that is available
tersedia pada tanggal penilaian. Ini termasuk, tetapi at the date of the assessment. This includes, but
tidak terbatas pada: is not limited to:
- bagaimana kinerja bisnis dan aset keuangan - how the performance of the business and the
yang ada di dalam unit bisnis itu dievaluasi dan financial assets held within that business unit
dilaporkan kepada manajemen. Tingkat are evaluated and reported to management.
pemisahan yang diidentifikasi untuk klasifikasi The level of segregation identified for PSAK
PSAK 71 harus konsisten dengan bagaimana 71 classification should be consistent with
portofolio aset dipisahkan dan dilaporkan how asset portfolios are segregated and
kepada manajemen; reported to senior management;
542


Penilaian model bisnis (lanjutan) Business model assessment (continued)
- risiko yang mempengaruhi kinerja unit bisnis - the risks that affect the performance of the
dan aset keuangan yang dimiliki dalam unit business unit and the financial assets held
bisnis itu dan khususnya bagaimana risiko itu within that business unit and in particular the
dikelola; dan way those risks are managed;
- bagaimana manajer unit bisnis dikompensasi - how managers of the business unit are
(misalnya, apakah kompensasi didasarkan compensated (for example, whether the
pada nilai wajar dari aset yang dikelola atau compensation is based on the fair value of the
pada arus kas kontraktual yang dikumpulkan). assets managed or on the contractual cash
flows collected).
Penentuan model bisnis dilakukan berdasarkan Business model determinations are made on the
skenario yang diperkirakan akan terjadi oleh Bank basis of scenarios that the Bank and Subsidiaries
dan Entitas Anak dan tidak dalam kondisi sangat reasonably expects to occur and not under highly
tertekan atau 'kondisi terburuk'. Jika aset dijual stressed or 'worst case' conditions. Where assets
dalam kondisi yang tidak diharapkan oleh are disposed of under conditions that the
Perseroan untuk berlaku ketika aset diakui, Company did not reasonably expect to prevail
klasifikasi aset keuangan yang ada dalam portofolio when the assets were recognized, the
tidak disajikan secara tidak akurat, tetapi kondisi classification of existing financial assets in the
tersebut harus dipertimbangkan untuk aset yang portfolio are not rendered inaccurate but the
diperoleh di masa mendatang. conditions in question should be considered for
any assets acquired going forward.
Pemilihan model operasi dalam PSAK 71 dirancang The Targeting Operating Model for PSAK 71 is
sedemikian rupa sehingga akuntansi untuk designed such that accounting for instruments at
instrumen di FVTPL adalah pilihan yang FVTPL is a conscious choice.
tepat/conscious.
Perubahan pada model bisnis atau pengenalan Changes to business models or the introduction of
model bisnis baru ditentukan melalui proses new business models are determined through the
persetujuan unit bisnis baru. new business unit approval process.
Bank dan Entitas Anak dapat mereklasifikasi The Bank and Subsidiaries can reclassified all of
seluruh aset keuangan yang terpengaruh jika dan its financial assets when and only, its business
hanya jika, model bisnis untuk pengelolaan aset model for managing those financial assets
keuangan berubah. changes.
Liabilitas Keuangan Financial Liabilities
Liabilitas keuangan diklasifikasikan ke dalam Financial liabilities are classified into the following
kategori berikut pada saat pengakuan awal: categories on initial recognition:
i. Liabilitas keuangan yang diukur nilai wajar i. Financial liabilities held at fair value through
melalui laba rugi baik yang dipersyaratkan profit or loss are either mandatorily classified
diukur pada nilai wajar melalui laba rugi atau fair value through profit or loss or irrevocably
ditetapkan pada nilai wajar pada saat designated at fair value through profit or loss
pengakuan awal; dan at initial recognition; and
ii. Liabilitas keuangan yang tidak diukur pada nilai ii. Financial liabilities that are not classified as
wajar melalui laba rugi, akan diklasifikasikan financial liabilities held at fair value through
sebagai liabilitas dengan biaya perolehan profit or loss are classified as financial
diamortisasi. liabilities held at amortized cost.
543




f.2. Pengakuan f.2. Recognition
Bank dan Entitas anak pada awalnya mengakui The Bank and its Subsidiaries initially recognize
transaksi keuangan pada tanggal dimana financial instrument transactions on the date at
Bank/Entitas Anak menjadi suatu pihak dalam which the Bank/Subsidiaries become a party to
perjanjian kontraktual instrumen tersebut. Bank the contractual agreement of the instrument.
mengakui pembelian dan penjualan aset The Bank recognized purchases and sales of
keuangan pada tanggal perdagangan sementara financial assets on the trade date while the
Entitas anak mengakuinya pada tanggal subsidiaries recognized it on the settlement
penyelesaian. date.
Pada saat pengakuan awal, aset keuangan atau A financial asset or financial liability is initially
liabilitas keuangan diukur pada nilai wajar measured at fair value plus (for an item not
ditambah (untuk item yang tidak diukur pada nilai subsequently measured at fair value through
wajar melalui laba rugi setelah pengakuan awal) profit or loss) transaction costs that are directly
biaya transaksi yang dapat diatribusikan secara attributable to financial assets acquisition or
langsung atas perolehan aset keuangan atau financial liabilities issuance. The subsequent
penerbitan liabilitas keuangan. Pengukuran aset measurement of financial assets and financial
keuangan dan liabilitas keuangan setelah liabilities depends on their classification.
pengakuan awal tergantung pada klasifikasi aset
keuangan dan liabilitas keuangan tersebut.
Biaya transaksi hanya meliputi biaya-biaya yang Transaction costs include only those costs that
dapat diatribusikan secara langsung untuk are directly attributable to the acquisition of a
perolehan suatu aset keuangan atau penerbitan financial asset or issuance of a financial liability
suatu liabilitas keuangan dan merupakan biaya and are incremental costs that would not have
tambahan yang tidak akan terjadi apabila been incurred if the financial instruments had
instrumen keuangan tersebut tidak diperoleh atau not been acquired or issued.
diterbitkan.
Aset keuangan yang diukur pada nilai wajar Financial assets measured at fair value through
melalui laporan laba rugi pada awalnya dicatat profit or loss are initially recognized at fair value,
sebesar nilai wajar dan biaya transaksinya and transaction costs are expensed in the profit
dibebankan pada laporan laba rugi. Aset or loss. Financial assets measured at fair value
keuangan yang diukur pada nilai wajar melalui through other comprehensive income and
penghasilan komprehensif lain dan aset financial assets measured at fair value through
keuangan yang diukur pada nilai wajar melalui profit or loss are subsequently measured at fair
laporan laba rugi selanjutnya dicatat sebagai nilai value. Financial assets classified as amortized
wajar. Aset keuangan yang diklasifikasikan cost are measured at amortized cost using the
sebagai biaya perolehan diamortiasi dicatat effective interest rate method.
sebesar biaya perolehan diamortisasi dengan
menggunakan metode suku bunga efektif.
Untuk liabilitas keuangan, biaya transaksi For financial liabilities, transaction costs are
dikurangkan dari jumlah utang yang diakui pada deducted from the amount of debt initially
pengakuan awal liabilitas. Biaya transaksi recognized. Such transactions costs are
tersebut diamortisasi selama umur instrumen amortized over the terms of the instruments
berdasarkan metode suku bunga efektif dan based on the effective interest rate method and
dicatat sebagai bagian dari beban bunga. are recorded as part of interest expense.
544


f.3. Penghentian pengakuan f.3. Derecognition
Bank dan Entitas Anak menghentikan pengakuan The Bank and Subsidiaries derecognize a
aset keuangan pada saat hak kontraktual atas financial asset when the contractual rights to the
arus kas yang berasal dari aset keuangan cash flows from the asset expire, or when the
tersebut berakhir, atau pada saat Bank dan Bank and Subsidiaries transfer the rights to
Entitas Anak mentransfer seluruh hak untuk receive the contractual cash flows on the
menerima arus kas kontraktual dari aset financial asset in a transaction in which
keuangan dalam transaksi dimana Bank dan substantially all the risks and rewards of
Entitas Anak secara substansial telah ownership of the financial asset are transferred.
mentransfer seluruh risiko dan manfaat atas Any interest in transferred financial asset that is
kepemilikan aset keuangan yang ditransfer. created or retained by the Bank and
Setiap hak atau liabilitas atas aset keuangan yang Subsidiaries is recognized as a separate asset
ditransfer yang timbul atau yang masih dimiliki or liability.
oleh Bank dan Entitas Anak diakui sebagai aset
atau liabilitas secara terpisah.
Bank dan Entitas Anak menghentikan pengakuan The Bank and Subsidiaries derecognize a
liabilitas keuangan pada saat kewajiban yang financial liability when its contractual obligations
ditetapkan dalam kontrak dilepaskan atau are discharged or cancelled or expired.
dibatalkan atau kadaluwarsa.
Bank dan Entitas Anak melakukan transaksi The Bank and Subsidiaries enter into
dimana Bank mentransfer aset yang diakui pada transactions whereby they transfer assets
laporan posisi keuangan konsolidasian, tetapi recognized on their consolidated statements of
masih memiliki semua risiko dan manfaat atas financial position, but retain all risks and rewards
aset yang ditransfer atau bagian darinya. Jika of the transferred assets or a portion of them. If
seluruh atau secara substansial seluruh risiko all or substantially all risks and rewards are
dan manfaat masih dimiliki, maka aset yang retained, then the transferred assets are not
ditransfer tidak dihentikan pengakuannya dari derecognized from the consolidated statements
laporan posisi keuangan konsolidasian. of financial position.
Dalam transaksi dimana Bank dan Entitas Anak In transactions in which the Bank and
secara substansial tidak memiliki atau tidak Subsidiaries neither retain nor transfer
mentransfer seluruh risiko dan manfaat dari substantially all the risks and rewards of
kepemilikan aset keuangan, Bank dan Entitas ownership of a financial asset, the Bank and
Anak menghentikan pengakuan aset tersebut jika Subsidiaries derecognize the asset if they do not
Bank dan Entitas Anak tidak lagi memiliki retain control over the assets. The rights and
pengendalian atas aset tersebut. Hak dan obligations retained in the transfer are
kewajiban yang masih dimiliki dalam transfer recognized separately as assets and liabilities
tersebut diakui secara terpisah sebagai aset atau as appropriate. In transfers in which control over
liabilitas. Dalam transfer dimana pengendalian the asset is retained, the Bank and Subsidiaries
atas aset masih dimiliki, Bank dan Entitas Anak continue to recognize the asset to the extent of
mengakui aset yang ditransfer tersebut sebesar their continuing involvement, determined by the
keterlibatan berkelanjutan, dimana tingkat extent to which they are exposed to changes in
keberlanjutan Bank dan Entitas Anak dalam aset the value of the transferred asset.
yang ditransfer adalah sebesar perubahan nilai
aset yang ditransfer.
545




f.4. Saling hapus f.4. Offsetting
Aset dan liabilitas keuangan dapat saling hapus Financial assets and liabilities are set off and the
dan nilai netonya disajikan dalam laporan posisi net amount is presented in the consolidated
keuangan konsolidasian jika, dan hanya jika, statements of financial position when, and only
Bank dan Entitas Anak memiliki hak yang when, the Bank and Subsidiaries have a legal
berkekuatan hukum untuk melakukan saling right to set off the amounts and intend either to
hapus atas jumlah yang telah diakui tersebut dan settle on a net basis or realize the asset and
berniat untuk menyelesaikan secara neto atau settle the liability simultaneously. The legally
untuk merealisasikan aset dan menyelesaikan enforceable right must not be contingent on
liabilitasnya secara simultan. Hak yang future events and must be enforceable in the
berkekuatan hukum bukan bersifat kontinjen normal course of business and in the event of
untuk suatu peristiwa dimasa depan dan harus default, insolvency or bankruptcy of the Bank or
dapat dipaksakan secara hukum baik dalam the counterparty.
situasi bisnis yang normal, atau dalam peristiwa
gagal bayar, atau peristiwa kepailitan atau
kebangkrutan, dari Bank atau pihak lawan.
Pendapatan dan beban disajikan dalam jumlah Income and expense are presented on a net
neto hanya jika diperkenankan oleh standar basis only when permitted by accounting
akuntansi. standards.
Jumlah yang tidak di saling hapus dalam laporan Amounts not offset in the statement of
posisi keuangan konsolidasian adalah consolidated financial position are related to:
sehubungan dengan:
i. Jumlah yang dapat di saling hapus dari i. The counterparties’ offsetting

transaksi pihak lawan dengan Bank exposures with the Bank where the right
dimana hak saling hapus hanya to set-off is only enforceable in the event
berkekuatan hukum pada peristiwa gagal of default, insolvency or bankruptcy of
bayar, atau peristiwa kepailitan atau the counterparties; and
kebangkrutan dari pihak lawan; dan
ii. Kas dan surat berharga yang diterima ii. Cash and securities that are received
dari atau dijaminkan oleh pihak lawan. from or pledged with counterparties.
f.5. Pengukuran biaya perolehan diamortisasi f.5. Amortized cost measurement
Biaya perolehan diamortisasi dari aset keuangan The amortized cost of a financial asset or
atau liabilitas keuangan adalah jumlah aset atau financial liability is the amount at which the
liabilitas keuangan yang diukur pada saat financial asset or liability is measured at initial
pengakuan awal dikurangi pembayaran pokok, recognition, minus principal repayments, plus or
ditambah atau dikurangi dengan amortisasi minus the cumulative amortization using the
kumulatif dengan menggunakan metode suku effective interest method of any difference
bunga efektif yang dihitung dari selisih antara nilai between the initial amount recognized and the
awal dan nilai jatuh temponya, dan dikurangi maturity amount, minus allowance for expected
cadangan kerugian kredit ekspektasian. credit losses.
546


f.6. Pengukuran nilai wajar f.6. Fair value measurement
Entitas mengukur nilai wajar suatu aset atau An entity shall measure the fair value of an
liabilitas menggunakan asumsi yang akan asset or a liability using the assumptions that
digunakan pelaku pasar ketika menentukan market participants would use when pricing the
harga aset atau liabilitas tersebut, dengan asset or liability, assuming that market
asumsi bahwa pelaku pasar bertindak dalam participants act in their economic best interest.
kepentingan ekonomik terbaiknya.
Jika pasar untuk suatu instrumen keuangan tidak If a market for a financial instrument is not
aktif, Bank dan Entitas Anak menentukan nilai active, the Bank and Subsidiaries establish fair
wajar dengan menggunakan teknik penilaian. value using a valuation technique. Valuation
Teknik penilaian mencakup penggunaan techniques include using recent arm’s length
transaksi pasar terkini yang dilakukan secara transactions between knowledgeable, willing
wajar oleh pihak-pihak yang memahami, parties and if available, reference to the current
berkeinginan, dan jika tersedia, referensi atas fair value of other instruments that are
nilai wajar terkini dari instrumen lain yang secara substantially the same, discounted cash flows
substansial sama, penggunaan analisa arus kas analysis, and option pricing models. The
yang didiskonto, dan penggunaan model chosen valuation technique makes maximum
penetapan harga opsi (option pricing model). use of market inputs, relies as little as possible
Teknik penilaian yang dipilih memaksimalkan on estimates specific to the Bank and
penggunaan input pasar, dan meminimalkan Subsidiaries, incorporates all factors that
penggunaan estimasi yang bersifat spesifik dari market participants would consider in setting a
Bank dan Entitas Anak, memasukkan semua price, and is consistent with accepted economic
faktor yang akan dipertimbangkan oleh para methodologies for pricing financial instruments.
pelaku pasar dalammenetapkansuatu harga
dan konsisten dengan metodologi ekonomi yang
diterima dalam penetapan harga instrumen
keuangan.
Input yang digunakan dalam teknik penilaian Inputs to valuation techniques reasonably
secara memadaimencerminkan ekspektasi represent market expectations and measures of
pasar dan ukuran atas faktor risiko dan the risk-return factors  inherent in the financial
pengembalian (risk-return) yang melekat pada instrument. The Bank and Subsidiaries calibrate
instrumen keuangan. Bank dan Entitas Anak valuation techniques and test them for validity
mengkalibrasi teknik penilaian dan menguji using prices from observable current market
validitasnya dengan menggunakan harga-harga transactions in the same instrument or based on
dari transaksi pasar terkini yang dapat other available observable market data.
diobservasi untuk instrumen yang sama atau
atas dasar data pasar lainnya yang tersedia yang
dapat diobservasi.
547




f.6. Pengukuran nilai wajar (lanjutan) f.6. Fair value measurement (continued)
Bukti terbaik atas nilai wajar instrumen The best evidence of the fair value of a
keuangan pada saat pengakuan awal adalah financial instrument at initial recognition is the
harga transaksi, yaitu nilai wajar dari transaction price, i.e., the fair value of the
pembayaran yang diberikan atau diterima, consideration given or received, unless the
kecuali jika nilai wajar dari instrumen keuangan fair value of that instrument is evidenced by
tersebut ditentukan dengan perbandingan comparison with other observable current
terhadap transaksi pasar terkini yang dapat market transactions in the same instrument
diobservasi dari suatu instrumen yang sama (i.e., without modification or repackaging) or
(yaitu tanpa modifikasi atau pengemasan based on a valuation technique whose
ulang) atau berdasarkan suatu teknik penilaian variables include only data from observable
yang variabelnya hanya menggunakan data markets.
dari pasar yang dapat diobservasi.
Jika harga transaksi memberikan bukti terbaik When transaction price provides the best
atas nilai wajar pada saat pengakuan awal, evidence of fair value at initial recognition, the
maka instrumen keuangan pada awalnya financial instrument is initially measured at
diukur pada harga transaksi dan selisih antara the transaction price and any difference
harga transaksi dan nilai yang sebelumnya between this price and the value initially
diperoleh dari model penilaian diakui dalam obtained from a valuation model is
laba rugi setelah pengakuan awal tergantung subsequently recognized profit or loss
pada masing-masing fakta dan keadaan dari depending on the individual facts and
transaksi tersebut namun tidak lebih lambat circumstances of the transaction but not later
dari saat penilaian tersebut didukung than when the valuation is supported wholly
sepenuhnya oleh data dari pasar yang dapat by observable market data or the transaction
diobservasi atau saat transaksi ditutup. is closed out.
Nilai wajar mencerminkan risiko kredit atas Fair values reflect the credit risk of the
instrumen keuangan dan termasuk instrument and include adjustments to take
penyesuaian yang dilakukan untuk into account the credit risk of the
memasukkan risiko kredit Bank/Entitas Anak Bank/Subsidiaries and counterparty where
dan pihak lawan, mana yang lebih sesuai. appropriate. Estimated fair values obtained
Estimasi nilai wajar yang diperoleh dari model from models are adjusted for any other
penilaian akan disesuaikan untuk factors, such as liquidity risk or model
mempertimbangkan faktor-faktor lainnya, uncertainties, to the extent that the Bank and
seperti risiko likuiditas atau ketidakpastian Subsidiaries believe a third-party market
model penilaian, sepanjang Bank dan Entitas participation would take them into account in
Anak yakin bahwa pelaku pasar pihak ketiga pricing a transaction.
akan mempertimbangkan faktor-faktor tersebut
dalam penetapan harga suatu transaksi.
548


f.6. Pengukuran nilai wajar (lanjutan) f.6. Fair value measurement (continued)
Aset keuangan dan posisi long diukur Financial assets and long positions are
menggunakan harga penawaran, liabilitas measured at a bid price, financial liabilities
keuangan dan posisi short diukur and short positions are measured at an ask
menggunakan harga permintaan. Jika Bank price. Where the Bank and Subsidiaries have
dan Entitas Anak memiliki posisi aset dan positions with offsetting risk, mid-market
liabilitas dimana risiko pasarnya saling hapus, prices are used to measure the offsetting risk
maka Bank dan Entitas Anak dapat positions and a bid or ask price adjustment is
menggunakan nilai tengah dari harga pasar applied only to the net open position as
sebagai dasar untuk menentukan nilai wajar appropriate.
posisi risiko yang saling hapus tersebut dan
menerapkan penyesuaian terhadap harga
penawaran atau harga permintaan terhadap
posisi terbuka neto (net open position), mana
yang lebih sesuai.
 Bank dan Entitas Anak mengklasifikasikan  The Bank and Subsidiaries classify fair
pengukuran nilai wajar dengan value measurements using a fair value
menggunakan hirarki nilai wajar yang hierarchy that reflects the significance of the
mencerminkan signifikansi input yang inputs used in making the measurements.
digunakan dalam melakukan pengukuran. The fair value hierarchy shall have the
Hirarki nilai wajar memiliki tingkat sebagai followings levels:
berikut:
i. Harga kuotasian (tidak disesuaikan) i. Quoted prices (unadjusted) in active
dalam pasar aktif untuk aset dan liabilitas markets for identical assets or liabilities
yang identik (Tingkat 1); (Level 1);
ii. Input selain harga kuotasian yang ii. Inputs other than quoted prices included
termasuk dalam Tingkat 1 yang dapat within Level 1 that are observable for the
diobservasi untuk aset dan liabilitas baik asset or liability either directly (example,
secara langsung (misalnya harga) atau price) or indirectly (example, derived
secara tidak langsung (misalnya derivasi from prices) (Level 2); and
dari harga) (Tingkat 2); dan
iii. Input untuk aset dan liabilitas yang bukan iii. Inputs for the asset and liability that are
berdasarkan data pasar yang dapat not based on observable market data
diobservasi (input yang tidak dapat (unobservable inputs) (Level 3).
diobservasi) (Tingkat 3).
549




g. Klasifikasi dan reklasifikasi instrumen keuangan g. Classification and reclassification of financial

instruments
Klasifikasi aset dan liabilitas keuangan Classification of financial assets and liabilities
Bank dan Entitas Anak mengklasifikasikan The Bank and Subsidiaries classify the financial
instrumen keuangan ke dalam klasifikasi tertentu instruments into classes that reflect the nature of
yang mencerminkan sifat dari informasi dan information and take into account the
mempertimbangkan karakteristik dari instrumen characteristics of those financial instruments. The
keuangan tersebut. Klasifikasi ini dapat dilihat pada classification can be seen in the table below:
tabel berikut:
Golongan (ditentukan oleh Bank

dan Entitas Anak)/Class
Kategori instrumen keuangan/ (as determined by the Bank and
Category of financial instrument Subsidiaries) Sub-golongan/Sub-classes
Aset keuangan yang diukur Efek-efek/Marketable securities
pada nilai wajar melalui laba Obligasi Pemerintah/Government Bonds
rugi/Financial assets at fair Tagihan derivatif - Tidak terkait lindung nilai/Derivative receivables - Non hedging
value through profit or loss related
Kas/Cash
Giro pada Bank Indonesia/Current accounts with Bank Indonesia
Giro pada bank lain/Current accounts with other banks
Penempatan pada bank lain dan Bank Indonesia/Placements with other banks and
Bank Indonesia
Aset keuangan diukur pada Pinjaman yang diberikan/Loans
biaya perolehan Efek-efek/Marketable securities
diamortisasi/Financial assets
Aset Efek-efek yang dibeli dengan janji dijual kembali/Securities purchased under resale
at amortized cost
keuangan/ agreements
Financial Piutang pembiayaan konsumen/Consumer financing receivables
assets Piutang sewa pembiayaan/Finance lease receivables
Tagihan akseptasi/Acceptance receivables
Beban dibayar dimuka dan aset lain-lain/Prepayments and other assets
Aset keuangan yang diukur Efek-efek/Marketable securities
pada nilai wajar melalui
penghasilan komprehensif Obligasi Pemerintah/Government Bonds
lain/Financial assets at fair Investasi dalam saham/Investments in shares
value through other
comprehensive income Investasi pada entitas asosiasi/Investments in associate
Tagihan derivatif - Terkait lindung nilai atas
Derivatif lindung nilai/Hedging Lindung nilai atas arus kas/Hedging arus kas/Derivative receivables -
derivatives instruments in cash flow hedges Hedging instruments in cash flow hedges
related
Liabilitas keuangan yang Liabilitas derivatif - Bukan lindung
Liabilitas keuangan dalam
diukur pada nilai wajar nilai/Derivatives liabilities - Non hedging
kelompok
melalui laba rugi/Financial Liabilitas derivatif - terkait lindung nilai atas
diperdagangkan/Financial liabilities
liabilities at fair value through arus kas/Derivative liabilities - Hedging
held for trading
profit or loss instruments in cash flow hedges related
Simpanan nasabah/Deposits from customers
Liabilitas Simpanan dari bank lain/Deposits from other banks
keuangan/ Efek yang dijual dengan janji dibeli kembali/Securities sold under repurchase
Financial Liabilitas keuangan yang agreements
liabilities diukur dengan biaya Utang akseptasi/Acceptance payables
perolehan Utang Obligasi/Bonds payable
diamortisasi/Financial Sukuk Mudharabah/Mudharabah bonds
liabilities at amortized cost Pinjaman yang diterima/Borrowings
Pinjaman subordinasi/Subordinated loan
Beban yang masih harus dibayar dan liabilitas lain-lain/Accrued expenses and
other liabilities
550


g. Klasifikasi dan reklasifikasi instrumen keuangan g. Classification and reclassification of financial

(lanjutan) instruments (continued)
Reklasifikasi aset keuangan Reclassification of financial assets
Bank dan Entitas Anak diperkenankan untuk The Bank and Subsidiaries shall reclassify financial
mereklasifikasi atas aset keuangan jika dan hanya assets when and only when its business model for
jika terdapat perubahan model bisnis dalam managing those assets changes. The
mengelola aset keuangan tersebut. Reklasifikasi reclassification takes place from the start of the first
dilakukan pada awal tahun pelaporan setelah reporting year following the change. Such changes
terjadinya perubahan. Perubahan tersebut are expected to be very infrequent and none
diharapkan frekuensinya sangat rendah dan tidak occurred during this year.
ada yang terjadi pada tahun ini.
h. Giro pada Bank Indonesia dan bank lain h. Current accounts with Bank Indonesia and
other banks
Giro pada Bank Indonesia dan giro pada bank lain Subsequent to initial recognition, current accounts
setelah pengakuan awal dicatat pada biaya with Bank Indonesia and other banks were carried
perolehan diamortisasi dengan menggunakan at amortized cost using effective interest rate
metode suku bunga efektif pada laporan posisi method in the consolidated statements of financial
keuangan konsolidasian. position.
Giro Wajib Minimum Statutory Reserves Requirement
Sesuai dengan Peraturan BI mengenai Giro Wajib In accordance with prevailing BI Regulation
Minimum Bank Umum dalam Rupiah dan Mata Uang concerning Commercial Banks’ Statutory
Asing, Bank diwajibkan untuk menempatkan Reserves Requirement in Rupiah and Foreign
sejumlah persentase tertentu atas simpanan Currency, the Bank is required to place certain
nasabah pada BI. percentage of deposits from customers with BI.
i. Penempatan pada bank lain dan Bank Indonesia i. Placements with other banks and Bank
Indonesia
Penempatan pada bank lain dan Bank Indonesia Placements with other banks and Bank Indonesia
pada awalnya diukur pada nilai wajar ditambah biaya are initially measured at fair value plus incremental
transaksi yang dapat diatribusikan secara langsung, directly attributable transaction costs, and
dan setelah pengakuan awal diukur pada biaya subsequently measured at their amortized cost
perolehan diamortisasi dengan menggunakan using the effective interest rate method.
metode suku bunga efektif.
j. Efek-efek dan Obligasi Pemerintah j. Marketable securities and Government Bonds
Efek-efek terdiri dari Sertifikat BI (“SBI”), wesel Marketable securities consist of BI Certificates
ekspor, obligasi (termasuk obligasi korporasi yang (“SBI”), export bills, bonds (including corporate
diperdagangkan di bursa efek, obligasi syariah bonds traded on the stock exchange, ijarah sharia
ijarah, dan obligasi syariah mudharabah), fixed rate bonds, and mudharabah sharia bonds), fixed rate
notes, promissory notes, dan efek utang lainnya. notes, promissory notes, and other debt securities.
Diukur pada biaya perolehan amortisasi Measured at amortized cost

Efek-efek yang diukur pada biaya perolehan After initial recognition, securities held at amortized
diamortisasi, setelah pengakuan awal, diamortisasi cost is amortized using the effective interest rate.
dengan menggunakan suku bunga efektif.
551




j. Efek-efek dan Obligasi Pemerintah (lanjutan) j. Marketable securities and Government Bonds
(continued)
Diukur pada FVOCI Measured at FVOCI

Efek-efek yang diukur pada FVOCI, setelah Securities held at FVOCI are subsequently carried
pengakuan awal akan diukur pada nilai wajar at fair value with all unrealized gains and losses
dimana keuntungan dan kerugian yang belum arising from changes in fair value recognized in
direalisasi atas perubahan nilai wajar akan diakui other comprehensive income and accumulated in
sebagai penghasilan komprehensif lain dan separate component in other equity component.
diakumulasikan pada komponen terpisah pada On derecognition, the cumulative fair value gains
komponen ekuitas lainnya. Pada saat penghentian or losses, net of the cumulative expected credit
pengakuan, akumulasi keuntungan atau kerugian loss reserve, are transferred to the profit or loss.
nilai wajar, bersih setelah akumulasi cadangan
kerugian kredit ekspektasian, ditransfer ke laba rugi.
Diukur pada FVTPL Mesured at FVTPL

Efek-efek yang dipersyaratkan diukur atas nilai For securities mandatorily held at fair value through
wajar melalui laba rugi, setelah pengakuan awal profit or loss are subsequently carried at fair value
akan diukur pada nilai wajar dimana keuntungan with gains or losses arising from the changes in fair
dan kerugian yang timbul akibat perubahan nilai value recorded in other operating income.
wajar dicatat dalam pendapatan operasional
lainnya.
Bank menerapkan persyaratan penurunan nilai The Bank apply the impairment requirements for
untuk pengakuan dan pengukuran penyisihan the recognition and measurement of a loss
kerugian untuk aset keuangan yang diukur pada allowance for financial assets that are measured at
nilai wajar melalui penghasilan komprehensif lain, fair value through other comprehensive income,
namun penyisihan kerugian diakui dalam however, the loss allowance shall be recognized in
penghasilan komprehensif lainnya dan tidak other comprehensive income and shall not reduce
mengurangi jumlah tercatat aset keuangan dalam the carrying amount of the financial asset in the
laporan posisi keuangan. statement of financial position.
Bank dan Entitas Anak menentukan klasifikasi The Bank and Subsidiaries determine the
investasi pada sukuk berdasarkan model usaha classification of their investment in sukuk based on
dengan mengacu pada PSAK 110, “Akuntansi business model in accordance with PSAK 110,
Sukuk” sebagai berikut: “Accounting for Sukuk” as follows:
- Diukur pada biaya perolehan - Acquisition cost

Apabila investasi tersebut dimiliki dalam suatu If the investment is held within a business
model usaha yang bertujuan utama untuk model that aims to acquire assets in order to
memperoleh arus kas kontraktual dan terdapat collect contractual cash flows and there is a
persyaratan kontraktual dalam menentukan contractual requirement to determine the
tanggal tertentu pembayaran pokok dan/atau specific date of principal payments and/or the
hasilnya. result.
Pada saat pengukuran awal, investasi dicatat At the initial measurement, the investment is
sebesar biaya perolehan dan biaya perolehan ini recorded at acquisition cost which includes the
termasuk biaya transaksi. Setelah pengakuan transaction cost. After the initial recognition, the
awal, investasi pada sukuk ini diukur pada nilai investment in sukuk is measured at amortized
perolehan yang diamortisasi. Selisih antara cost. The difference between acquisition cost
biaya perolehan dan nilai nominal diamortisasi and nominal value is amortized using straight-
secara garis lurus selama jangka waktu line method during the period of the sukuk
instrumen sukuk. instrument.
552


j. Efek-efek dan Obligasi Pemerintah (lanjutan) j. Marketable securities and Government Bonds
(continued)
Bank dan Entitas Anak menentukan klasifikasi The Bank and Subsidiaries determine the
investasi pada sukuk berdasarkan model usaha classification of their investment in sukuk based on
dengan mengacu pada PSAK 110, “Akuntansi business model in accordance with PSAK 110,
Sukuk” sebagai berikut: (lanjutan) “Accounting for Sukuk” as follows: (continued)
- Nilai wajar melalui laba rugi - Fair value through profit or loss
Pada saat pengakuan awal, investasi pada At the initial recognition, the investment in
sukuk dalam klasifikasi ini dicatat sebesar harga sukuk is presented at acquisition cost which
perolehan, namun harga perolehan tersebut does not include transaction cost.
tidak termasuk biaya transaksi.
Setelah pengakuan awal, investasi pada sukuk After initial recognition, the investment in sukuk
diakui pada nilai wajar. Selisih antara nilai wajar is recognized at-fair-value. The difference
dan jumlah tercatat diakui dalam laba rugi. between fair value and recorded amount is
recognized in profit or loss.
- Nilai wajar melalui penghasilan komprehensif - Fair value through other comprehensive
lain income
Pada saat pengakuan awal, investasi pada At the initial recognition, the investment in
sukuk dalam klasifikasi ini dicatat sebesar harga sukuk is presented at acquisition cost which
perolehan dan biaya perolehan ini termasuk includes transaction cost.
biaya transaksi.
Setelah pengakuan awal, investasi pada sukuk After initial recognition, the investment in sukuk
diakui pada nilai wajar. Selisih antara nilai wajar is recognized at-fair-value. The difference
dan jumlah tercatat diakui dalam penghasilan between fair value and recorded amount is
komprehensif lain. Selisih antara biaya recognized in other comprehensive income.
perolehan dan nilai nominal diamortisasi secara The difference between acquisition cost and
garis lurus selama jangka waktu instrumen nominal value is amortized using straight-line
sukuk dan diakui dalam laba rugi. method during the period of the sukuk
instrument and recognized in profit or loss.
k. Efek-efek yang dijual dengan janji dibeli kembali k. Securities sold under repurchase agreements
dan efek-efek yang dibeli dengan janji dijual and securities purchased under resale
kembali agreements
Efek-efek yang dijual dengan janji dibeli kembali Securities sold under repurchase agreements are
merupakan transaksi dimana Bank menjual aset transactions in which the Company sold a financial
keuangan dan secara simultan masuk ke dalam asset and simultaneously enters into an agreement
perjanjian untuk membeli kembali aset (atau aset to repurchase the asset (or substantially similar
yang serupa secara substansial) dengan harga tetap asset) at a fixed price on a future date.
di masa depan.
Efek-efek yang dijual dengan janji dibeli kembali Securities sold under repurchase agreements
(repo) disajikan sebagai liabilitas sebesar harga (repo) are presented as liabilities and stated at the
pembelian kembali yang disepakati dikurangi selisih agreed repurchase price less the difference
antara harga jual dan harga pembelian kembali yang between the selling price and agreed repurchase
disepakati. Selisih antara harga jual dan harga price. The difference between the selling price and
pembelian kembali yang disepakati tersebut agreed repurchase price is amortized using
diamortisasi dengan menggunakan metode suku effective interest rate method as interest expense
bunga efektif sebagai beban bunga selama jangka over the period commencing from the selling date
waktu sejak efek-efek tersebut dijual hingga saat to the repurchase date.
dibeli kembali.
553




k. Efek-efek yang dijual dengan janji dibeli kembali k. Securities sold under repurchase agreements
dan efek-efek yang dibeli dengan janji dijual and securities purchased under resale
kembali (lanjutan) agreements (continued)
Efek-efek yang dibeli dengan janji dijual kembali Securities purchased under resale agreements
(reverse repo) disajikan sebagai tagihan sebesar (reverse repo) are presented as receivables and
harga jual kembali efek-efek yang disepakati stated at the agreed resale price less the difference
dikurangi selisih antara harga beli dan harga jual between the purchase price and the agreed resale
kembali yang disepakati. Selisih antara harga beli price. The difference between the purchase price
dan harga jual kembali yang disepakati tersebut and the agreed resale price is amortized using the
diamortisasi dengan metode suku bunga efektif effective interest method as interest income over
sebagai pendapatan bunga selama jangka waktu the period commencing from the acquisition date to
sejak efek-efek tersebut dibeli hingga dijual kembali. the resale date.
l. Instrumen keuangan derivatif l. Derivative financial instruments
Bank dan Entitas Anak melakukan berbagai The Bank and Subsidiaries enter into a variety of
transaksi instrumen keuangan derivatif untuk derivative financial instruments to manage its
mengelola eksposur atas risiko suku bunga dan exposure to interest rate and foreign exchange rate
risiko perubahan nilai tukar mata uang asing risks, using foreign exchange forward contracts and
mengunakan kontrak valuta berjangka dan swap interest rate swaps.
suku bunga.
Derivatif awalnya diakui pada nilai wajar pada Derivatives are initially recognized at fair value at
tanggal kontrak dilakukan dan selanjutnya diukur the date the derivative contracts are entered into
kembali pada nilai wajarnya pada setiap akhir and are subsequently remeasured to their fair
values at the end of each reporting period. The
periode pelaporan. Dampak keuntungan atau resulting gain or loss is recognized in profit or loss
kerugian diakui segera di laba rugi kecuali jika immediately unless the derivative is designated and
derivatif ditetapkan dan efektif sebagai instrumen effective as hedging instrument in which event the
lindung nilai di mana saat pengakuan di laba rugi timing of the recognition in profit or loss depends on
bergantung pada sifat dari hubungan lindung nilai. the nature of the hedge relationship.
Derivatif dengan nilai wajar positif diakui sebagai A derivative with a positive fair value is recognized
aset keuangan sedangkan derivatif dengan nilai as a financial asset whereas a derivative with a
wajar negatif diakui sebagai liabilitas keuangan. negative fair value is recognized as a financial
liability. Derivatives are not offset in the financial
Derivatif tidak saling hapus dalam laporan keuangan statements unless the Bank and Subsidiaries have
kecuali Bank dan Entitas Anak memiliki hak yang both a legally enforceable right and intention to
memiliki kekuatan hukum dan intensi untuk saling offset.
hapus.
Derivatif melekat Embedded derivatives
Derivatif melekat merupakan komponen dari kontrak An embedded derivative is a component of a hybrid
hibrida yang juga termasuk kontrak non-derivatif contract that also includes a non-derivative host –
induk dengan dampak arus kas dari instrumen with the effect that some of the cash flows of the
combined instrument vary in a way similar to a
gabungan bervariasi dengan cara yang mirip dengan stand-alone derivative.
derivatif yang berdiri sendiri.
Derivatif yang melekat pada kontrak hibrida dengan Derivatives embedded in hybrid contracts with a
aset keuangan utama dalam ruang lingkup PSAK 71 financial asset host within the scope of PSAK 71 are
tidak dipisahkan. Seluruh kontrak hibrida not separated. The entire hybrid contract is
classified and subsequently measured as either
diklasifikasikan dan selanjutnya diukur sebagai biaya amortized cost or fair value as appropriate.
perolehan diamortisasi atau nilai wajar yang sesuai.
Derivatif yang melekat pada kontrak hibrida dengan Derivatives embedded in hybrid contracts with
kontrak utama yang bukan merupakan aset hosts that are not financial assets within the scope
keuangan dalam ruang lingkup PSAK 71 (misalnya of PSAK 71 (e.g. financial liabilities) are treated as
separate derivatives when they meet the definition
liabilitas keuangan) diperlakukan sebagai derivatif of a derivative, their risks and characteristics are
terpisah jika definisi derivatif tersebut terpenuhi, not closely related to those of the host contracts
risiko dan karakteristiknya tidak terkait erat dengan and the host contracts are not measured at FVTPL.
kontrak utama dan kontrak utama tidak diukur
dengan FVTPL.
554


l. Instrumen keuangan derivatif (lanjutan) l. Derivative financial instruments (continued)
Derivatif melekat (lanjutan) Embedded derivatives (continued)
Jika kontrak hibrida tersebut merupakan liabilitas If the hybrid contract is a quoted financial liability,
keuangan yang memiliki kuotasi harga, Bank tidak instead of separating the embedded derivative, the
memisahkan derivatif yang melekat, tapi secara Bank generally designates the whole hybrid
umum menetapkan seluruh kontrak hibrida sebagai contract at FVTPL.
FVTPL.
Akuntansi lindung nilai Hedge accounting
Entitas Anak menerapkan akuntansi lindung nilai Subsidiary applied cash flow hedge accounting. On
arus kas. Pada penetapan awal lindung nilai, Bank initial designation of the hedge, the Bank and
dan Entitas Anak secara formal Subsidiary formally document the relationship
mendokumentasikan hubungan antara instrumen between the hedging instruments and hedged
lindung nilai dengan item yang dilindung nilai, items, including the risk management objective and
termasuk tujuan manajemen risiko dan strategi strategy in undertaking the hedge transaction,
dalam melakukan transaksi lindung nilai, together with the method that will be used to assess
bersamaan dengan metode yang akan digunakan the effectiveness of the hedging relationship.
untuk menilai efektifitas dari hubungan lindung nilai Subsidiary make an assessment, both at the
tersebut. Entitas Anak melakukan penilaian, baik inception of the hedge relationship as well as on an
pada awal hubungan lindung nilai maupun secara ongoing basis, whether the hedging instruments
berkelanjutan, untuk menentukan apakah instrumen are expected to be “highly effective” in offsetting the
lindung nilai tersebut dapat secara sangat efektif changes in the cash flows of the respective hedged
menutupi perubahan arus kas dari item yang items.
dilindung nilai.
Perubahan nilai wajar instrumen derivatif yang tidak Changes in fair value of derivative instruments that
memenuhi kriteria lindung nilai dicatat dalam laba do not qualify for hedge accounting are recognized
rugi tahun berjalan. Jika instrumen derivatif to the current year profit or loss. If derivative
dirancang dan memenuhi syarat akuntansi lindung instruments are designated and qualify for hedge
nilai, perubahan nilai wajar yang berkaitan dengan accounting, changes in fair value of derivative
lindung nilai diakui sebagai penyesuaian terhadap instruments are recorded as adjustments to the
item yang dilindungi nilainya dalam penghasilan hedged items in the current year other
komprehensif lain tahun berjalan atau disajikan comprehensive income or in the equity, depending
dalam ekuitas, tergantung pada jenis transaksi dan on the type of hedge transaction represented and
efektifitas dari lindung nilai tersebut. the effectiveness of the hedge.
Pada saat derivatif dirancang sebagai instrumen When a derivative is designated as the hedging
lindung nilai untuk melindungi perubahan arus kas instrument to hedge the variability in cash flows
yang dapat diatribusikan pada risiko tertentu dari attributable to a particular risk associated with a
aset atau liabilitas yang diakui atau suatu prakiraan recognized asset or liability or a highly probable
transaksi yang dapat mempengaruhi laba rugi, forecast transaction that could affect profit or loss,
maka bagian efektif dari perubahan nilai wajar dari the effective portion of changes in the fair value of
derivatif diakui sebagai penghasilan komprehensif the derivative is recognized in other comprehensive
lainnya. Jumlah yang diakui dalam penghasilan income. The amount recognized in other
komprehensif lainnya direklasifikasi ke laporan laba comprehensive income is reclassified to the profit or
rugi sebagai penyesuaian reklasifikasi pada tahun loss as a reclassification adjustment in the same
yang sama dimana arus kas yang dilindung nilai year as the hedged cash flows affect profit or loss,
tersebut mempengaruhi laba rugi, dan pada baris and in the same line item in the consolidated
item yang sama pada laporan laba rugi statement of profit or loss. Any ineffective portion of
konsolidasian. Setiap bagian yang tidak efektif changes in the fair value of the derivative is
dalam perubahan nilai wajar derivatif diakui recognized immediately in the consolidated
langsung pada laporan laba rugi konsolidasian. statement of profit or loss.
555




l. Instrumen keuangan derivatif (lanjutan) l. Derivative financial instruments (continued)
Akuntansi lindung nilai (lanjutan) Hedge accounting (continued)
Jika derivatif lindung nilai kadaluarsa atau dijual, If the hedging derivative expires or is sold,
dihentikan atau dilaksanakan, atau pada saat terminated, or exercised, or when the hedge no
lindung nilai tidak lagi memenuhi kriteria akuntansi longer meets the criteria for cash flow hedge
lindung nilai arus kas atau pada saat transaksi accounting, or when the hedge designation is
lindung nilai dibatalkan maka secara prospektif cancelled, then hedge accounting is discontinued
akuntansi lindung nilai dihentikan. Pada saat prospectively. When the hedge of a forecast
lindung nilai atas suatu prakiraan transaksi transaction is discounted, the cumulative amount
dihentikan, maka jumlah kumulatif yang diakui pada recognized in other comprehensive income from
penghasilan komprehensif lainnya sejak tahun the year when the hedge was effective, is
dimana lindung nilai tersebut efektif, direklasifikasi reclassified from other comprehensive income to
dari penghasilan komprehensif lainnya ke laba rugi profit or loss as a reclassification adjustment when
sebagai penyesuaian reklasifikasi pada saat the forecast transaction occurs and affects profit or
prakiraan transaksi tersebut terjadi dan loss. If the forecast transaction is no longer
mempengaruhi laba rugi. Jika prakiraan transaksi expected to occur, then the balance in other
tidak lagi diharapkan akan terjadi, maka saldo di comprehensive income is reclassified immediately
penghasilan komprehensif lainnya langsung to profit or loss as a reclassification adjustment.
direklasifikasi ke laba rugi sebagai penyesuaian
reklasifikasi.
m. Pinjaman yang diberikan m. Loans
Pinjaman yang diberikan pada awalnya diukur pada Loans are initially measured at fair value plus
nilai wajar ditambah biaya transaksi yang dapat directly attributable and incremental transaction
diatribusikan secara langsung dan merupakan cost to acquire the financial assets, and after initial
biaya tambahan untuk memperoleh aset keuangan recognition measured at their amortized cost using
tersebut, dan setelah pengakuan awal diukur pada the effective interest rate method.
biaya perolehan diamortisasi dengan menggunakan
Kredit dalam rangka pembiayaan bersama (kredit Syndicated loans are stated at amortized cost in
sindikasi) dinyatakan sebesar biaya perolehan accordance with the risk portion borne by the Bank.
diamortisasi sesuai dengan porsi risiko yang
ditanggung oleh Bank.
Termasuk dalam pinjaman yang diberikan adalah Included in the loans is Sharia financing which
pembiayaan Syariah yang terdiri dari piutang consists of murabahah receivables, Ijarah
murabahah, Ijarah Muntahiyah Bittamlik, Muntahiyah Bittamlik, musyarakah financing, and
pembiayaan musyarakah, dan pembiayaan mudharabah financing. Murabahah is an
mudharabah. Murabahah adalah akad jual beli agreement for the sale and purchase of goods
barang dengan menyatakan harga perolehan dan between the buyer and the seller at the agreed cost
keuntungan (marjin) yang disepakati oleh penjual and margin, and only can be done based on agreed
dan pembeli, dan hanya dapat dilakukan order. Musyarakah is an agreement between
berdasarkan pesanan yang bersifat mengikat. investors (musyarakah partners) to join the capital
Musyarakah adalah akad kerjasama yang terjadi in a partnership, at an agreed predefined term of
diantara para pemilik modal (mitra musyarakah) nisbah.
untuk menggabungkan modal dan melakukan
usaha secara bersama dalam suatu kemitraan,
dengan pembagian keuntungan berdasarkan
nisbah yang telah disepakati sebelumnya.
556


m. Pinjaman yang diberikan (lanjutan) m. Loans (continued)
Mudharabah adalah akad kerjasama usaha antara Mudharabah is an agreement between the Bank as
Bank sebagai pemilik dana (shahibul maal) dan an investor (shahibul maal) and customer as a fund
nasabah sebagai pengelola dana (mudharib) untuk manager (mudharib) to run a business with pre-
melakukan kegiatan usaha dengan nisbah defined terms of nisbah (gain or loss). Ijarah
pembagian hasil (keuntungan atau kerugian) Muntahiyah Bittamlik is an agreement to obtain
menurut kesepakatan dimuka. Ijarah Muntahiyah rental payment on the leased object with an option
Bittamlik adalah akad pemindahan hak guna to transfer ownership of the leased object at certain
(manfaat) atas suatu aset dalam waktu tertentu time.
dengan pembayaran sewa yang diikuti dengan janji
perpindahan kepemilikan aset yang diijarahkan pada
saat tertentu.
Pinjaman yang diberikan dihapusbukukan ketika Loans are written off when there are no realistic
tidak terdapat prospek yang realistis mengenai prospects of future recovery and all collateral have
pengembalian dimasa datang dan semua jaminan been realized or have been foreclosed. When
telah direalisasi atau sudah diambil alih. Pinjaman loans are deemed uncollectible, they are written off
yang tidak dapat dilunasi dihapusbukukan dengan against the related allowance for impairment
mendebit cadangan kerugian penurunan nilai. losses. Subsequent recoveries of loans written off
Pelunasan kemudian atas pinjaman yang telah are credited to the allowance for impairment losses
dihapusbukukan sebelumnya, dikreditkan ke in the consolidated statements of financial position.
cadangan kerugian penurunan nilai di laporan posisi
keuangan konsolidasian.
Restrukturisasi pinjaman yang diberikan meliputi Loan restructuring may involve a modification of
modifikasi persyaratan kredit, konversi kredit the terms of the loans, conversion of loans into
menjadi saham atau instrumen keuangan lainnya equity or other financial instruments and/or a
dan/atau kombinasi dari keduanya. combination of both.
Pinjaman yang diberikan yang direstukturisasi Restructured loans are stated at the net present
disajikan sebesar nilai kini tunai penerimaan kas value of the total future cash receipts after
masa depan setelah restrukturisasi yang restructuring are discounted using the original
didiskontokan dengan menggunakan suku bunga effective interest rate. The difference between the
efektif awal. Selisih antara nilai tercatat kredit pada carrying amount of the loans prior restructuring and
tanggal restrukturisasi dan nilai kini tunai the present value of the total future cash receipts
penerimaan kas masa depan setelah restrukturisasi is regonised in the consolidated statement of
diakui dalam laporan laba rugi konsolidasi. income.
Setelah restrukturisasi, semua penerimaan kas Thereafter, all cash receipts under the new terms
masa depan yang ditetapkan dalam persyaratan shall be accounted for as the recovery of principal
baru dicatat sebagai pengembalian pokok pinjaman and interest income, using the original effective
yang diberikan dan pendapatan bunga dengan interest rate.
menggunakan suku bunga efektif awal.
557




n. Investasi dalam saham n. Investments in shares
Investasi dalam saham yang diklasifikasikan Investments in shares classified as financial assets
sebagai aset keuangan diukur pada nilai wajar measured at fair value through other
melalui penghasilan komprehensif lain dicatat comprehensive income is carried at cost after its
sebesar biaya perolehan setelah pengakuan initial recognition as it consists of unquoted equity
awalnya karena terdiri dari efek ekuitas tanpa harga securities which fair value cannot be reliably
kuotasi yang nilai wajarnya tidak dapat diukur secara measured, except for certain investment in shares
andal, kecuali untuk investasi dalam saham tertentu that has quoted price which are accounted for at
yang memiliki harga kuotasi dicatat sebesar nilai fair value after initial recognition.
wajar setelah pengakuan awalnya.
Dividen kas yang diterima atas investasi dalam Cash dividend received from investment in shares
saham diakui sebagai pendapatan. is recognized as income.
o. Cadangan kerugian kredit ekspektasian o. Allowance for expected credit losses
PSAK 71 mengharuskan cadangan kerugian diakui PSAK 71 requires a loss allowance to be

sebesar kerugian kredit ekspektasian (“ECL”) recognized at an amount equal to either 12-month
12 bulan atau kerugian kredit ekspektasian expected credit losses (“ECL”) or lifetime ECLs.
sepanjang umur aset keuangan (lifetime ECL). Lifetime ECLs are the ECLs that result from all
Lifetime ECL adalah kerugian kredit ekspektasian possible default events over the expected life of a
yang berasal dari semua kemungkinan kejadian financial instrument, whereas 12-month ECLs are
gagal bayar sepanjang umur ekspektasian suatu the portion of ECLs that result from default events
instrumen keuangan, sedangkan ECL 12 bulan that are possible within the 12 months after
adalah porsi dari kerugian kredit ekspektasian yang reporting date.
berasal dari kemungkinan kejadian gagal bayar
dalam 12 bulan setelah tanggal pelaporan.
ECL diakui untuk seluruh instrumen utang ECL are recognized for all financial debt
keuangan, komitmen pinjaman dan jaminan instruments, loan commitments and financial
keuangan yang diklasifikasikan sebagai hold to guarantees that are classified as hold to collect/hold
collect/hold to collect and sell dan memiliki arus kas to collect and sell and have cash flows that are
SPPI. Kerugian kredit ekspektasian tidak diakui solely payments of principal and interest. Expected
untuk instrumen ekuitas yang ditetapkan sebagai credit losses are not recognized for equity
FVOCI. instruments designated at FVOCI.
Perseroan menggunakan model yang kompleks The Company primarily uses sophisticated models
yang menggunakan matriks probability of default that utilise the probability of default (“PD”), loss
(“PD”), loss given default (“LGD”) dan exposure at given default (“LGD”) and exposure at default
default (“EAD”), yang didiskontokan menggunakan (“EAD”) metrics, discounted using the effective
suku bunga efektif. interest rate.
a. Probability of Default (“PD”) a. Probability of Default (“PD”)

Probabilitas yang timbul di suatu waktu The probability at a point in time that a
dimana debitur mengalami gagal bayar, counterparty will default, calibrated over up to
dikalibrasikan sampai dengan periode 12 12 months from the reporting date (Stage 1)
bulan dari tanggal laporan (Tahap 1) atau or over the lifetime of the product (Stage 2 and
sepanjang umur (Tahap 2 dan 3) dan 3) and incorporating the impact of forward-
digabungkan pada dampak asumsi ekonomi looking economic assumptions that have an
masa depan yang memiliki risiko kredit. PD effect on credit risk. PD is estimated at a point
diestimasikan pada poin in time dimana hal ini in time that means it will fluctuate in line with
berfluktuasi sejalan dengan siklus ekonomi. the economic cycle.
558



b. Loss Given Default (“LGD”) b. Loss Given Default (“LGD”)

Kerugian yang diperkirakan akan timbul dari The loss that is expected to arise on default,
debitur yang mengalami gagal bayar dengan incorporating the impact of relevant forward
menggabungkan dampak dari asumsi looking economic assumptions (if any), which
ekonomi masa depan yang relevan (jika ada) represents the difference between the
dimana hal ini mewakili perbedaan antara arus contractual cash flows due and those that the
kas kontraktual yang akan jatuh tempo dengan Bank expects to receive. The Bank estimates
arus kas yang diharapkan untuk diterima. LGD based on the historical recovery rates
Bank mengestimasikan LGD berdasarkan and considers the recovery of any collateral
data historis dari tingkat pemulihan dan that is integral to the financial assets, taking
memperhitungkan pemulihan yang berasal into account forward looking economic
dari jaminan terhadap aset keuangan dengan assumptions if relevant.
mempertimbangkan asumsi ekonomi di masa
depan jika relevan.
c. Exposure at Default (“EAD”) c. Exposure at Default (“EAD”)
Perkiraan nilai eksposur neraca pada saat The expected balance sheet exposure at the
gagal bayar dengan mempertimbangkan time of default, taking into account that
bahwa perubahan ekspektasi yang diharapkan expected change in exposure over the lifetime
selama masa eksposur. Hal ini of the exposure. This incorporates the impact
menggabungkan dampak penarikan fasilitas of drawdowns of committed facilities,
yang committed pembayaran pokok dan repayments of principal and interest,
bunga, amortisasi dan pembayaran amortization and prepayments, together with
dipercepat, bersama dengan dampak asumsi the impact of forward looking economic
ekonomi masa depan jika relevan. assumptions where relevant.
Kerugian kredit ekspektasian 12 bulan (Tahap 1) 12-month expected credit losses (Stage 1)
ECL diakui pada saat pengakuan awal instrumen ECL are recognized at the time of initial recognition
keuangan dan merepresentasikan kekurangan kas of a financial instrument and represent the lifetime
sepanjang umur aset yang timbul dari kemungkinan cash shortfalls arising from possible default events
gagal bayar di masa yang akan datang dalam kurun up to twelve months into the future from the
waktu dua belas bulan sejak tanggal pelaporan. ECL reporting date. ECL continue to be determined on
terus ditentukan oleh dasar ini sampai timbul this basis until there is either a significant increase
peningkatan risiko kredit yang signifikan pada in the credit risk of an instrument or the instrument
instrumen tersebut atau instrumen tersebut telah becomes credit-impaired. If an instrument is no
mengalami penurunan nilai kredit. Jika suatu longer considered to exhibit a significant increase
instrumen tidak lagi dianggap menunjukkan in credit risk, ECL will revert to being determined
peningkatan risiko kredit yang signifikan, maka ECL on a 12-month basis.
dihitung kembali berdasarkan basis dua belas bulan.
559





Peningkatan risiko kredit yang signifikan Significant increase in credit risk (Stage 2)
(Tahap 2)
Jika aset keuangan mengalami peningkatan risiko If a financial asset experiences a significant
kredit yang signifikan (“SICR”) sejak pengakuan increase in credit risk (“SICR”) since initial
awal, kerugian kredit ekspektasian diakui atas recognition, an expected credit loss provision is
kejadian gagal bayar yang mungkin terjadi recognized for default events that may occur over
sepanjang umur aset. Peningkatan signifikan dalam the lifetime of the asset. Significant increase in
risiko kredit dinilai dengan membandingkan risiko credit risk is assessed by comparing the risk of
gagal bayar atas eksposur pada tanggal pelaporan default of an exposure at the reporting date to the
dengan risiko gagal bayar saat pengakuan awal risk of default at origination (after taking into
(setelah memperhitungkan perjalanan waktu dari account the passage of time). Significant does not
akun tersebut). Signifikan tidak berarti signifikan mean statistically significant nor is it assessed in
secara statistik, juga tidak dinilai dalam konteks the context of changes in ECL. Whether a change
perubahan dalam ECL. Perubahan atas risiko gagal in the risk of default is significant or not is assessed
bayar dinilai signifikan atau tidak, dinilai using a number of quantitative and qualitative
menggunakan sejumlah faktor kuantitatif dan factors, the weight of which depends on the type of
kualitatif, yang bobotnya bergantung pada tipe product and counterparty. Financial assets that are
produk dan pihak lawan. Aset keuangan dengan 30 or more days past due and not credit-impaired
tunggakan 30 hari atau lebih dan tidak mengalami will always be considered to have experienced a
penurunan nilai akan selalu dianggap telah significant increase in credit risk.
mengalami peningkatan risiko kredit yang signifikan.
Aset hanya akan dianggap mengalami penurunan An asset is only considered credit impaired and
nilai dan kerugian kredit ekspektasian sepanjang lifetime expected credit losses recognized, if there
umurnya diakui, jika terdapat bukti objektif is observed objective evidence of impairment.
penurunan nilai yang dapat diobservasi. Faktor- These factors are similar to the indicators of
faktor yang diobservasi ini serupa dengan indikator objective evidence of impairment, this includes,
bukti objektif penurunan nilai, termasuk antara lain amongst other factors, assets in default for more
aset gagal bayar dengan tunggakan lebih dari 90 than 90 days or experiencing significant financial
hari atau mengalami kesulitan keuangan yang difficulty, or experiencing forbearance on impaired
signifikan atau mengalami forbearance atas kredit credit (mentioned as ‘Stage 3 asset’).
yang mengalami penurunan nilai (disebut sebagai
‘aset Tahap 3’).
Pengukuran kerugian kredit ekspektasian di seluruh The measurement of expected credit losses across
tahapan aset diperlukan untuk mencerminkan all stages is required to reflect an unbiased and
jumlah yang tidak bias dan rata-rata probabilitas probability weighted amount that is determined by
tertimbang yang ditentukan dengan mengevaluasi evaluating a range of reasonably possible
serangkaian kemungkinan yang dapat terjadi outcomes using reasonable and supportable
menggunakan informasi yang wajar dan dapat information about past events, current conditions
didukung dengan peristiwa di masa lampau, kondisi and forecasts of future economic conditions.
saat ini dan proyeksi terkait dengan kondisi
ekonomis di masa depan.
560



Eksposur yang mengalami penurunan nilai kredit Credit impaired (or defaulted) exposures
atau gagal bayar (Tahap 3) (Stage 3)
Aset keuangan yang mengalami penurunan nilai Financial assets that are credit impaired (or in
(atau gagal bayar) merupakan aset yang setidaknya default) represent those that are at least 90 days
telah memiliki tunggakan lebih dari 90 hari atas past due in respect of principal and/or interest or
pokok dan/atau bunga atau memiliki peringkat kredit has certain credit grades (credit grading 26-28).
tertentu (peringkat kredit 26-28). Aset keuangan juga Financial assets are also considered to be credit
dianggap mengalami penurunan nilai kredit dimana impaired where the debtors are unlikely to pay on
debitur kemungkinan besar tidak akan membayar the occurrence of one or more observable events
dengan terjadinya satu atau lebih kejadian yang that have a detrimental impact on the estimated
teramati yang memiliki dampak menurunkan jumlah future cash flows of the financial asset. Loss
estimasi arus kas masa depan dari aset keuangan provisions against credit impaired financial assets
tersebut. Cadangan kerugian penurunan nilai are determined based on an assessment of the
terhadap aset keuangan yang mengalami penurunan recoverable cash flows under a range of scenarios,
nilai ditentukan berdasarkan penilaian terhadap arus including the realization of any collateral held
kas yang dapat dipulihkan berdasarkan sejumlah where appropriate. The ECL will reflect weighted
skenario, termasuk realisasi jaminan yang dimiliki average of the scenarios based on the probability
jika memungkinkan. ECL akan mencerminkan rata- of the relevant scenario to occur. The loss
rata tertimbang dari skenario berdasarkan provisions held represent the difference between
probabilitas dari skenario yang relevan untuk terjadi. the present value of the cash flows expected to be
Cadangan kerugian penurunan nilai merupakan recovered, discounted at the instrument’s original
selisih antara nilai sekarang dari arus kas yang effective interest rate, and the gross carrying value
diperkirakan akan dipulihkan, didiskontokan pada of the instrument prior to any credit impairment.
suku bunga efektif awal, dan nilai tercatat bruto
instrumen sebelum penurunan nilai kredit.
Periode yang diperhitungkan ketika mengukur The period considered when measuring expected
kerugian kredit ekspektasian adalah periode yang credit loss is the shorter of the expected life and the
lebih pendek antara umur ekspektasian dan periode contractual term of the financial asset. The
kontrak aset keuangan. Umur ekspektasian dapat expected life may be impacted by prepayments
dipengaruhi oleh pembayaran dimuka dan periode and the maximum contractual term by extension
kontrak maksimum melalui opsi perpanjangan options. For certain revolving portfolios, including
kontrak. Untuk portofolio revolving tertentu, termasuk credit cards, the expected life is assessed over the
kartu kredit, umur ekspektasian dinilai sepanjang period that the Company is exposed to credit risk
periode dimana Perseroan terekspos dengan risiko (which is based on the length of time it takes for
kredit (berdasarkan durasi waktu yang dibutuhkan credit facilities to be withdrawn) rather than the
untuk fasilitas kredit ditarik), bukan sepanjang contractual term.
periode kontrak.
Untuk aset yang diukur pada biaya perolehan For assets measured at amortized cost, the
diamortisasi, saldo di neraca mencerminkan aset balance sheet amount reflects the gross asset less
bruto dikurangi kerugian kredit ekspektasian. Untuk the expected credit losses. For debt instruments
instrumen utang dalam kategori FVOCI, saldo di held at FVOCI, the balance sheet amount reflects
neraca mencerminkan nilai wajar dari instrumen, the instrument’s fair value, with the expected credit
dengan cadangan kerugian kredit ekspektasian loss allowance held as a separate reserve within
dibukukan terpisah sebagai cadangan pada other comprehensive income.
pendapatan komprehensif lain.
561





Eksposur yang mengalami penurunan nilai kredit Credit impaired (or defaulted) exposures
atau gagal bayar (Tahap 3) (lanjutan) (Stage 3) (continued)
Untuk menentukan kerugian kredit ekspektasian To determine the expected credit loss, these
komponen-komponen ini akan diperhitungkan components are multiplied together and discounted
secara bersama-sama dan didiskontokan ke tanggal to the balance sheet date using the effective interest
laporan keuangan menggunakan diskonto rate as the discount rate. The basis of inputs,
berdasarkan suku bunga efektif. Dasar input, asumsi assumptions and the estimation technique are
dan teknik estimasi diungkapkan di Catatan 50. disclosed in Note 50.
Usaha syariah Sharia business
Aset produktif perbankan syariah terdiri dari giro Productive assets of sharia banking include current
pada Bank Indonesia, Sertifikat Bank Indonesia, accounts with Bank Indonesia, Certificates of Bank
efek-efek, piutang Islamic Banking (“iB”), piutang iB Indonesia, marketable securities, Islamic Banking
lainnya, pembiayaan iB dan transaksi rekening (“iB”) receivables, other iB receivables, iB financing
administratif yang mempunyai risiko kredit. and off-balance sheet transactions which contain
credit risk.
Sesuai dengan peraturan OJK In accordance with the OJK No.16/POJK.03/2014

No.16/POJK.03/2014 tanggal 18 November 2014 dated 18 November 2014 concerning Asset Quality
tentang Penilaian Kualitas Aset Bank Umum Assessment on Sharia Bank and Sharia Business
Syariah dan Unit Usaha Syariah, yang berlaku sejak Unit, which is applied starting 1 January 2015 and
1 Januari 2015 dan perubahan terakhirnya POJK the latest update POJK No.19/POJK.03/2018 dated
No.19/POJK.03/2018 tanggal 20 September 2018, 20 September 2018, the Bank is required to provide
Bank wajib membentuk cadangan kerugian sesuai an allowance for impairment losses in accordance
dengan standar akuntansi keuangan yang berlaku. with prevailing accounting standards. Specifically
Sesuai PSAK 102, khusus untuk piutang dengan for murabahah receivables the impairment losses is
akad murabahah penyisihan kerugian penurunan evaluated individually and collectively based on
nilai dievaluasi secara individual dan kolektif dengan PSAK 55. The allowance for impairment losses on
mengacu pada PSAK 55. Sedangkan cadangan productive assets for other agreements are
penghapusan aset produktif yang dibentuk untuk calculated using the following guidelines:
akad lainnya mengacu sebagai berikut:
i. Cadangan umum sekurang-kurangnya 1% dari i. General allowance at a minimum of 1% of

aset produktif dan transaksi rekening administratif productive assets and off-balance sheet
yang digolongkan lancar. transactions that are classified as current.
ii. Cadangan khusus untuk aset produktif dan ii. Specific allowance for productive assets and off-
transaksi rekening administratif: balance sheet transactions:
Persentase minimum cadangan/

Klasifikasi Minimum percentage of allowance Classification
Dalam perhatian khusus 5% Special mention

Kurang lancar 15% Substandard
Diragukan 50% Doubtful
Macet 100% Loss
562



Usaha syariah (lanjutan) Sharia business (continued)
Cadangan khusus untuk aset produktif dan Specific allowance for productive assets and off-
transaksi rekening administratif yang mempunyai balance sheet transactions with credit risk
risiko kredit yang digolongkan sebagai dalam classified as special mention, substandard,
perhatian khusus, kurang lancar, diragukan, dan doubtful, and loss is calculated on total loan
macet dihitung atas jumlah pokok pinjaman yang principal after deducting the value of allowable
diberikan setelah dikurangi dengan nilai agunan collateral. No allowance is provided for any portion
yang diperkenankan. Pencadangan tidak dibentuk of facility backed by cash collateral.
untuk porsi fasilitas yang dijamin dengan agunan
tunai.
Bank dan Entitas Anak menghapusbukukan saldo The Bank and Subsidiaries write off financial
aset keuangan beserta cadangan kerugian assets and any related allowance for impairment
penurunan nilai terkait pada saat Bank dan Entitas losses when the Bank and Subsidiaries determine
Anak menentukan bahwa pinjaman yang diberikan, that those loans, consumer financing receivables,
piutang pembiayaan konsumen, piutang sewa finance lease receivables or debt securities are
pembiayaan atau efek-efek utang tersebut tidak uncollectible. This determination is reached after
dapat lagi ditagih. Keputusan ini diambil setelah considering information such as the occurrence of
mempertimbangkan informasi terkait seperti telah significant changes in the borrower’s/issuer’s
terjadinya perubahan signifikan atas posisi financial position such that the borrower/issuer can
keuangan debitur/penerbit yang mengakibatkan no longer pay the obligation, or that proceeds from
debitur/penerbit tidak lagi dapat melunasi collateral will not be sufficient to pay back the entire
liabilitasnya, atau hasil penjualan agunan tidak akan exposure.
cukup untuk melunasi seluruh eksposurnya.
p. Cadangan kerugian penurunan nilai atas aset p. Allowance for impairment losses on non-
yang bukan aset keuangan kecuali goodwill financial assets except goodwill
Pada akhir setiap periode pelaporan, Bank dan At the end of each reporting period, the Bank and
Entitas Anak menelaah nilai tercatat aset non- Subsidiaries review the carrying amount of non-
keuangan untuk menentukan apakah terdapat financial assets to determine whether there is any
indikasi bahwa aset tersebut telah mengalami indication that those assets have suffered an
penurunan nilai. Jika terdapat indikasi tersebut, impairment loss. If any such indication exists, the
jumlah terpulihkan dari aset diestimasi untuk recoverable amount of the asset is estimated in
menentukan tingkat kerugian penurunan nilai (jika order to determine the extent of the impairment loss
ada). Bila tidak memungkinkan untuk mengestimasi (if any). Where the asset does not generate cash
jumlah terpulihkan atas suatu aset individual, Bank flows that are independent from other assets, the
dan Entitas Anak mengestimasi jumlah terpulihkan Bank and Subsidiaries estimate the recoverable
dari unit penghasil kas atas aset. Ketika dasar amount of the cash-generating unit to which the
alokasi yang wajar dan konsisten dapat asset belongs. When a reasonable and consistent
diidentifikasi, aset perusahaan juga dialokasikan ke basis of allocation can be identified, corporate
masing-masing kelompok unit penghasil kas, atau assets are also allocated to individual cash-
sebaliknya mereka dialokasikan ke kelompok generating units, or otherwise they are allocated to
terkecil dari kelompok unit penghasil kas di mana the smallest group of cash-generating units for
dasar alokasi yang wajar dan konsisten dapat which a reasonable and consistent allocation basis
diidentifikasi. can be identified.
Aset takberwujud dengan masa manfaat tidak Intangible assets with indefinite useful lives and
terbatas dan aset takberwujud yang belum tersedia intangible assets not yet available for use are
untuk digunakan diuji penurunan nilainya setiap tested for impairment annually, and whenever there
tahun dan ketika terdapat indikasi penurunan nilai. is an indication that the asset maybe impaired.
563




p. Cadangan kerugian penurunan nilai atas aset p. Allowance for impairment losses on non-
yang bukan aset keuangan kecuali goodwill financial assets except goodwill (continued)
(lanjutan)
Jumlah terpulihkan adalah nilai tertinggi antara nilai Recoverable amount is the higher of fair value less
wajar dikurangi biaya pelepasan dan nilai pakai. cost to sell and value in use. In assessing value in
Dalam menilai nilai pakainya, estimasi arus kas use, the estimated future cash flows are
masa depan didiskontokan ke nilai kini discounted to their present value using a pre-tax
menggunakan tingkat diskonto sebelum pajak yang discount rate that reflects current market
menggambarkan penilaian pasar kini dari nilai waktu assessments of the time value of money and the
uang dan risiko spesifik atas aset dengan estimasi risks specific to the asset for which the estimates
arus kas masa depan belum disesuaikan. of future cash flows have not been adjusted.
Jika jumlah terpulihkan dari aset non-keuangan (unit If the recoverable amount of the non-financial
penghasil kas) lebih kecil dari nilai tercatatnya, nilai asset (cash generating unit) is less than its carrying
tercatat aset (unit penghasil kas) diturunkan menjadi amount, the carrying amount of the asset (cash
sebesar jumlah terpulihkan dan rugi penurunan nilai generating unit) is reduced to its recoverable
segera diakui dalam laba rugi, kecuali aset tersebut amount and an impairment loss is recognized
disajikan pada jumlah revaluasian, di mana kerugian immediately in profit or loss, unless the relevant
penurunan nilai diperlakukan sebagai penurunan asset is carried at revaluation amount, in which the
revaluasi. impairment loss is treated as a revaluation
decrease.
Ketika penurunan nilai selanjutnya dibalik, jumlah When an impairment loss subsequently reverses,
tercatat aset (atau unit penghasil kas) ditingkatkan the carrying amount of the asset (or a cash-
ke estimasi yang direvisi dari jumlah terpulihkannya, generating unit) is increased to the revised
namun kenaikan jumlah tercatat tidak boleh melebihi estimate of its recoverable amount, but so that the
jumlah tercatat ketika kerugian penurunan nilai tidak increased carrying amount does not exceed the
diakui untuk aset (atau unit penghasil kas) pada carrying amount that would have been determined
tahun-tahun sebelumnya. Pembalikan rugi had no impairment loss been recognized for the
penurunan nilai diakui segera dalam laba rugi, asset (or cash-generating unit) in prior years. A
kecuali aset yang bersangkutan disajikan pada reversal of an impairment loss is recognized
jumlah revaluasian, dalam hal ini pembalikan immediately in profit or loss, unless the relevant
kerugian penurunan nilai diperlakukan sebagai asset is carried at a revalued amount, in which
kenaikan revaluasi case the reversal of the impairment loss is treated
as a revaluation increase.
q. Piutang pembiayaan konsumen q. Consumer financing receivables
Piutang pembiayaan konsumen merupakan jumlah Consumer financing receivables are stated at net
piutang setelah dikurangi dengan bagian of joint financing portion, unearned consumer
pembiayaan bersama, pendapatan pembiayaan financing income and allowance for expected
konsumen yang belum diakui dan cadangan credit losses.
kerugian kredit ekskpektasian.
Piutang pembiayaan konsumen diklasifikasikan Consumer financing receivables are classified as at

sebagai diukur pada biaya perolehan diamortisasi, amortized cost, and subsequent to initial recognition,
dan setelah pengakuan awal, dicatat pada biaya are carried at amortized cost using the effective
perolehan diamortisasi dengan menggunakan interest rate method.
564


q. Piutang pembiayaan konsumen (lanjutan) q. Consumer financing receivables (continued)
Pendapatan pembiayaan konsumen yang belum Unearned consumer financing income represents
diakui merupakan selisih antara jumlah keseluruhan the difference between total installments to be
pembayaran angsuran yang akan diterima dari received from the consumer and the principal
konsumen dan jumlah pokok pembiayaan, yang amount financed, which is recognized as income
diakui sebagai pendapatan selama jangka waktu over the term of the contract based on effective
kontrak berdasarkan tingkat suku bunga efektif dari interest rate of the related consumer financing
piutang pembiayaan konsumen. receivable.
Termasuk dalam piutang pembiayaan konsumen Included in consumer financing receivables are
adalah piutang pembiayaan murabahah. Murabahah murabahah financing receivables. Murabahah is
adalah akad jual beli barang dengan harga jual goods sell-buy contract with a selling price
sebesar biaya perolehan ditambah keuntungan yang amounting to acquisition cost plus agreed margin
disepakati dan Entitas Anak harus mengungkapkan and the Subsidiary must disclose the acquisition
biaya perolehan barang tersebut kepada konsumen. cost to consumer. When the murabahah contract
Pada saat akad murabahah, piutang pembiayaan is signed, murabahah financing receivables are
murabahah diakui sebesar biaya perolehan recognized at acquisition cost plus agreed margin.
ditambah keuntungan (marjin). Keuntungan Murabahah margin is recognized over the period of
murabahah diakui selama periode akad berdasarkan the contract based on margin of the murabahah
pengakuan marjin dari piutang pembiayaan financing receivables.
murabahah.
Akad murabahah secara substansi merupakan Substantially, murabahah contract is a financing,

suatu pembiayaan, sehingga pengakuan marjin so that margin recognition is based on standards
dilakukan berdasarkan standar yang mengatur which regulate financing, as mentioned in
pembiayaan, seperti yang disebutkan di kebijakan consumer financing policy.
pembiayaan konsumen.
Penyelesaian kontrak sebelum masa pembiayaan Early termination of a contract is treated as

konsumen berakhir diperlakukan sebagai a cancellation of an existing contract and the
pembatalan kontrak pembiayaan konsumen dan resulting gain is recognized in the current year
keuntungan yang timbul diakui dalam laba rugi tahun profit or loss.
berjalan.
Piutang pembiayaan konsumen akan Consumer financing receivables will be written off
dihapusbukukan setelah menunggak lebih dari 210 when they are overdue for more than 210 days.
hari. Penerimaan dari piutang yang telah Recoveries from written off receivables are
dihapusbukukan diakui sebagai pendapatan lain-lain recognized as other income upon receipt.
pada saat diterima.
Dalam hal restrukturisasi piutang pembiayaan In term of restructuring of murabahah financing

murabahah dilakukan dengan modifikasi receivables through modification of financing
persyaratan pembiayaan, Entitas Anak jatuh tempo terms, the Subsidiary provide payment holiday and
kepada konsumen namun tidak mengubah total sisa tenor extention to the customer but did not change
piutang pembiayaan murabahah (baik pokok the outstanding of murabahah financing
maupun margin) yang harus dibayarkan oleh receivables (both principal and margin) that have
konsumen. Entitas Anak mencatat dampak to be paid by the customer. The Subsidiary records
restrukturisasi tersebut secara prospektif, dengan the impact from restructuring prospectively, by not
tidak mengakui amortisasi marjin serta amortisasi recognising the amortization of margin and
biaya perolehan pada saat cuti angsuran. amortization of acquisition costs during the
Pendapatan marjin setelah restrukturisasi akan payment holiday. Margin income after restructuring
diakui sebesar jumlah marjin yang ditentukan dalam will be recognized at the margin amount stated
persyaratan pembiayaan baru yang tidak mengubah under the new financing terms which did not
total sisa piutang. change the outstanding receivables.
565




q. Piutang pembiayaan konsumen (lanjutan) q. Consumer financing receivables (continued)
Restrukturisasi pembiayaan konsumen meliputi Restructuring of consumer financing may involve a

modifikasi persyaratan kredit. Pembiayaan yang modification of the terms of the loans. Restructured
direstrukturisasi disajikan sebesar nilai kini atas arus financing are stated at the net present value of
kas kontraktual setelah restrukturisasi yang contractual cash flows after restructuring are
didiskontokan dengan menggunakan suku bunga discounted using the original effective interest rate.
efektif awal. Selisih antara jumlah tercatat bruto Differences arising from the gross carrying value of
piutang pembiayaan konsumen pada tanggal the consumer financing receivables at the time of
restrukturisasi dengan nilai kini arus kas kontraktual restructuring with present value of contractual cash
setelah restrukturisasi diakui dalam laba rugi. flows after restructuring are recognized to profit or
loss.
Setelah restrukturisasi, seluruh arus kas kontraktual Thereafter, all the contractual cash flows under the
dalam persyaratan baru dicatat sebagai new terms shall be accounted for as the repayment
pengembalian pokok pembiayaan yang diberikan of principal and interest income, in accordance with
dan pendapatan bunga sesuai dengan syarat-syarat the restructuring scheme.
restrukturisasi.
Pembiayaan bersama Joint financing
Seluruh kontrak pembiayaan bersama yang All joint financing contracts entered by the
dilakukan oleh Entitas Anak merupakan pembiayaan Subsidiaries represent joint financing without
bersama tanpa tanggung renteng (without recourse) recourse in which only the Subsidiaries’ financing
dimana hanya porsi jumlah angsuran piutang yang portion of the total installments is recorded as
dibiayai Entitas Anak yang dicatat sebagai piutang consumer financing receivables in the
pembiayaan konsumen di laporan posisi keuangan consolidated statements of financial position (net
konsolidasian (pendekatan neto). Pendapatan dan approach). Consumer financing income and
beban pembiayaan konsumen serta pendapatan expense and Murabahah margin income and
marjin dan beban marjin Murabahah disajikan pada margin expense are presented in profit or loss after
laba rugi setelah dikurangi dengan bagian yang deducting the portions belong to other parties who
merupakan hak pihak-pihak lain yang berpartisipasi participated in the joint financing transactions.
pada transaksi pembiayaan bersama.
r. Sewa pembiayaan r. Finance leases
Penentuan apakah suatu perjanjian merupakan The determination of whether an arrangement is,
perjanjian sewa atau perjanjian yang mengandung or contains a lease is based on the substance of
sewa didasarkan atas substansi perjanjian pada the arrangement at inception date and whether the
tanggal awal sewa dan apakah pemenuhan fulfillment of the arrangement is dependent on the
perjanjian tergantung pada penggunaan suatu aset use of a specific asset and the arrangement
dan perjanjian tersebut memberikan suatu hak untuk conveys a right to use the asset. Leases are
menggunakan aset tersebut. Suatu sewa classified as finance leases if the leases transfer
diklasifikasikan sebagai sewa pembiayaan jika sewa substantially all the risks and rewards related to
tersebut mengalihkan secara substansial seluruh ownership of the leased assets. All other leases
risiko dan manfaat yang terkait dengan kepemilikan are classified as operating lease.
aset. Seluruh sewa lainnya diklasifikasikan sebagai
sewa operasi
566


r. Sewa pembiayaan (lanjutan) r. Finance leases (continued)
Entitas Anak mengakui aset berupa piutang sewa The Subsidiary recognised assets of financial
pembiayaan sebesar jumlah yang sama dengan lease receivable at an amount equal to the net
investasi sewa neto. Penerimaan piutang sewa investment in the lease. Lease payment is treated
diperlakukan sebagai pembayaran pokok dan as repayment of principal and financing lease
penghasilan sewa pembiayaan. Pengakuan income. The recognition of financing lease income
penghasilan sewa pembiayaan didasarkan pada is based on a pattern reflecting a constant periodic
suatu pola yang mencerminkan suatu tingkat rate of return on The Subsidiary’s net investment in
pengembalian periodik yang konstan atas investasi the financing lease. The Subsidiary acts as a lessor
neto. Entitas Anak bertindak sebagai lessor dalam in finance leases.
sewa pembiayaan.
Piutang sewa pembiayaan akan dihapusbukukan Finance lease receivables will be written-off when
setelah menunggak lebih dari 210 hari. Penerimaan they are overdue for more than 210 days.
dari piutang yang telah dihapusbukukan diakui Recoveries from written-off receivables are
sebagai pendapatan lain-lain pada saat diterima. recognised as other income upon receipt.
s. Aset takberwujud s. Intangible assets
Aset takberwujud terdiri dari goodwill dan perangkat Intangible assets consist of goodwill and software
lunak yang dibeli Bank dan Entitas Anak. acquired by the Bank and Subsidiaries.
s.1. Goodwill s.1. Goodwill
Goodwill timbul atas akuisisi dari suatu bisnis Goodwill arising on an acquisition of a
dicatat pada biaya perolehan yang ditetapkan business is carried at cost as established at
pada tanggal akuisisi bisnis tersebut dikurangi the date of acquisition of the business less
akumulasi penurunan nilai, jika ada. accumulated impairment losses, if any.
Goodwill tidak diamortisasi tetapi direviu untuk Goodwill is not amortized but is reviewed for
penurunan nilai setidaknya setiap tahun. Untuk impairment at least annually. For the purpose
tujuan uji penurunan nilai, goodwill dialokasikan of impairment testing, goodwill is allocated to
pada setiap unit penghasil kas dari Bank dan each of the Bank and Subsidiaries’ cash-
Entitas Anak (atau kelompok unit penghasil generating units (or group of cash-generating
kas) yang diperkirakan memberikan manfaat units) expected to benefit from the synergies
dari sinergi kombinasi bisnis tersebut. Unit of the combination. A cash-generating unit to
penghasil kas yang telah memperoleh alokasi which goodwill has been allocated is tested
goodwill diuji penurunan nilainya setiap tahun, for impairment annually, or more frequently
atau lebih sering jika terdapat indikasi bahwa when there is an indication that the unit may
unit penghasil kas tersebut mungkin mengalami be impaired. If the recoverable amount of the
penurunan nilai. Jika jumlah terpulihkan dari cash-generating unit is less than its carrying
unit penghasil kas kurang dari jumlah amount, the impairment loss is allocated first
tercatatnya, rugi penurunan nilai dialokasikan to reduce the carrying amount of any goodwill
pertama kali untuk mengurangi jumlah tercatat allocated to the unit and then to the other
atas setiap goodwill yang dialokasikan pada assets of the unit pro-rata on the basis of the
unit penghasil kas dan kemudian ke aset lain carrying amount of each asset in the unit. Any
dari unit penghasil kas secara prorata impairment loss for goodwill is recognized
berdasarkan jumlah tercatat dari setiap aset directly in profit or loss in the consolidated
dalam unit penghasil kas tersebut. Setiap statement of profit or loss and other
kerugian penurunan nilai goodwill diakui secara comprehensive income. An impairment loss
langsung dalam laba rugi pada laporan laba recognized for goodwill is not reversed in
rugi dan penghasilan komprehensif lain subsequent periods.
konsolidasian. Rugi penurunan nilai yang diakui
atas goodwill tidak dapat dibalik pada periode
berikutnya.
Pada pelepasan entitas anak atau unit On disposal of a subsidiary or the relevant
penghasil kas, jumlah goodwill yang dapat cash-generating unit, the attributable amount
diatribusikan termasuk dalam penentuan laba of goodwill is included in the determination of
rugi atas pelepasan. the profit or loss on disposal.
567




s. Aset takberwujud (lanjutan) s. Intangible assets (continued)
s.2. Perangkat lunak s.2. Software
Perangkat lunak yang dibeli oleh Bank dan Entitas Software acquired by the Bank and Subsidiaries
Anak dicatat sebesar biaya perolehan dikurangi is stated at cost less accumulated amortization
akumulasi amortisasi dan akumulasi kerugian and accumulated impairment losses.
penurunan nilai.
Pengeluaran untuk modifikasi perangkat lunak Expenditure on internal modification software
secara internal diakui sebagai aset ketika Bank is recognized as an asset when the Bank and
dan Entitas Anak dapat mendemonstrasikan Subsidiaries are able to demonstrate their
maksud dan kemampuannya untuk intention and ability to complete the
menyelesaikan pengembangan dan memakai development and use of the software in a
perangkat lunak tersebut dalam menghasilkan manner that will generate future economic
keuntungan ekonomis dimasa mendatang, dan benefits, and can reliably measure the costs
dapat secara andal mengukur biaya untuk to complete the development. The capitalized
menyelesaikan pengembangan. Biaya yang costs of internally developed software include
dikapitalisasi dari pengembangan perangkat all costs directly attributable to develop the
lunak secara internal mencakup semua biaya software, and are amortized over its useful
yang dapat diatribusikan langsung untuk life. Internally developed software is stated at
pengembangan perangkat lunak. capitalized cost less accumulated
Pengembangan perangkat lunak dinyatakan amortization and impairment losses.
pada biaya yang dikapitalisasi dikurangi
akumulasi amortisasi dan penurunan nilai.
Pengeluaran selanjutnya untuk perangkat Subsequent expenditure on software is
lunak akan dikapitalisasi hanya jika capitalized only when it increases the future
pengeluaran tersebut menambah manfaat economic benefits embodied in the specific
ekonomis aset yang bersangkutan di masa asset to which it relates. All other
mendatang. Semua pengeluaran lainnya expenditures are expensed as incurred.
dibebankan pada saat terjadinya.
Amortisasi diakui dalam laba rugi dengan Amortization is recognized in profit or loss on
menggunakan metode garis lurus sepanjang a straight-line basis over the estimated useful
masa manfaat dari perangkat lunak tersebut, life of the software, from the date it is
dari tanggal perangkat lunak tersebut tersedia available for use. The estimated useful life of
untuk dipakai. Estimasi masa manfaat dari software is five years.
perangkat lunak adalah lima tahun.
Metode amortisasi, estimasi masa manfaat, Amortization method, useful lives, and
dan nilai residual ditelaah pada setiap akhir residual values are reviewed at each financial
tahun pelaporan dan disesuaikan jika dianggap year-end and adjusted if appropriate.
tepat.
t. Aset tetap dan penyusutan t. Fixed assets and depreciation
Aset tetap pada awalnya dinyatakan sebesar harga Fixed assets are initially recognized at acquisition
perolehan. Setelah pengukuran awal, aset tetap cost. After initial measurement, fixed assets are
diukur dengan model biaya, dicatat pada harga measured using the cost model, carried at their cost
perolehan dikurangi akumulasi penyusutan dan less any accumulated depreciation and
akumulasi penurunan nilai. accumulated impairment losses.
Harga perolehan mencakup harga pembelian dan Acquisition cost includes purchase price and any
semua beban yang terkait secara langsung untuk costs directly attributable to bring the assets to the
membawa aset tersebut ke lokasi dan kondisi yang location and condition necessary for it to be
diperlukan untuk memungkinkan aset tersebut capable of operating in the manner intended by
beroperasi sebagaimana ditentukan oleh management.
manajemen.
Tanah dinyatakan sebesar harga perolehan dan Land is stated at cost and not depreciated.
tidak disusutkan.
568


t. Aset tetap dan penyusutan (lanjutan) t. Fixed assets and depreciation (continued)
Penyusutan aset tetap selain tanah dihitung dengan Depreciation of fixed assets other than land is
menggunakan metode garis lurus untuk calculated on the straight-line method to allocate
mengalokasikan harga perolehan hingga mencapai their cost until they reach their residual values
nilai sisa yang diestimasikan sebesar nihil, which is expected to be nil, over their estimated
sepanjang estimasi masa manfaatnya sebagai useful lives as follows:
berikut:
Tahun/Years Persentase/Percentage
Bangunan 20 5% Buildings
Perlengkapan kantor 4-5 25%-20% Office equipment
Kendaraan bermotor 3-5 33,33%-20% Motor vehicles
Apabila aset tetap tidak digunakan lagi atau dijual, When fixed assets are retired or otherwise
maka nilai tercatat dan akumulasi penyusutannya disposed of, their carrying values and the related
dikeluarkan dari laporan posisi keuangan accumulated depreciation are removed from the
konsolidasian, dan keuntungan atau kerugian yang consolidated statements of financial position, and
terjadi diakui dalam laba rugi. the resulting gains or losses are recognized in
profit or loss.
Akumulasi biaya pengembangan aset tetap The accumulated costs of the construction of fixed
dikapitalisasi sebagai aset dalam penyelesaian. assets are capitalized as construction in progress.
Beban tersebut direklasifikasi ke aset tetap pada These costs are reclassified to fixed assets when
saat proses konstruksi selesai dan siap digunakan. the construction is completed. Depreciation is
Penyusutan mulai dibebankan pada bulan yang charged from such month.
sama.
Beban perbaikan dan pemeliharaan dibebankan ke Repair and maintenance costs are charged to profit
dalam laporan laba rugi tahun berjalan. Beban or loss. Significant cost of renovation and
renovasi dan penambahan yang jumlahnya betterments is included in the carrying amount of
signifikan dicatat sebagai bagian dari nilai tercatat the assets when it is probable that future economic
aset yang bersangkutan apabila kemungkinan besar benefits in excess of the originally assessed
Bank dan Entitas Anak akan mendapatkan manfaat standard of performance of the existing assets will
ekonomi masa depan dari aset tersebut yang flow to the Bank and Subsidiaries.
melebihi standar kinerja yang diperkirakan
sebelumnya.
Estimasi umur ekonomis, metode penyusutan, dan Estimation of economic life, depreciation method,
nilai residu telah ditelaah pada setiap akhir tahun and residual value are reviewed at each financial
pelaporan dan disesuaikan jika dianggap tepat. year-end and adjusted if appropriate.
u. Agunan yang diambil alih u. Foreclosed assets
Agunan yang diambil alih sehubungan dengan Foreclosed assets acquired in conjunction with
penyelesaian kredit dinyatakan berdasarkan nilai settlement of loans are stated at the lower of
terendah antara nilai tercatat pinjaman yang related loans’ carrying value or net realizable value
diberikan terkait atau nilai realisasi neto dari agunan of the foreclosed assets. Net realizable value is the
yang diambil alih. Nilai realisasi neto adalah nilai fair value of the foreclosed assets after deducting
wajar agunan yang diambil alih setelah dikurangi the estimated cost of disposal. The excess
beban pelepasan. Selisih lebih antara nilai tercatat between the carrying value and the net realizable
dan nilai realisasi neto dicatat sebagai cadangan value is recorded as allowance for impairment of
penurunan nilai atas agunan yang diambil alih dan foreclosed assets and is charged to the current
dibebankan pada laba rugi tahun berjalan. Secara year profit or loss. In general, the Bank does not
umum, Bank tidak menggunakan aset yang diambil utilize foreclosed assets for business use.
alih untuk kepentingan bisnis.
Beban-beban sehubungan dengan perolehan dan Expenses in relation with the acquisition and
pemeliharaan agunan yang diambil alih tersebut maintenance of those foreclosed assets are
dibebankan pada saat terjadinya. charged to expense as incurred.
569




v. Tagihan dan utang akseptasi v. Acceptance receivables and payables
Tagihan dan utang akseptasi setelah pengakuan Acceptance receivables and payables after initial
awal dicatat pada biaya perolehan diamortisasi. recognition are carried at amortized cost.
w. Simpanan nasabah dan simpanan dari bank lain w. Deposits from customers and deposits from
other banks
Simpanan nasabah dan simpanan dari bank lain Deposits from customers and deposits from other
pada awalnya diukur pada nilai wajar ditambah biaya banks are initially measured at fair value plus
transaksi yang dapat diatribusikan secara langsung directly attributable transaction costs and
dan setelah pengakuan awal diukur pada biaya subsequently measured at their amortized cost
perolehan diamortisasi dengan menggunakan using the effective interest rate method.
x. Pendapatan dan beban bunga x. Interest income and expenses
Pendapatan dan beban bunga diakui dalam laporan Interest income and expenses are recognized in
laba rugi dengan menggunakan metode suku bunga profit or loss using the effective interest rate
efektif. Suku bunga efektif adalah tingkat suku bunga method. The effective interest rate is the rate that
yang secara tepat mendiskontokan estimasi exactly discounts the estimated future cash
pembayaran dan penerimaan kas di masa datang payments and receipts through the expected life of
selama perkiraan umur dari aset keuangan atau the financial asset or financial liability (or, where
liabilitas keuangan (atau, jika lebih tepat, digunakan appropriate, a shorter year) to the carrying amount
tahun yang lebih singkat) untuk memperoleh nilai of the financial asset or financial liability. When
tercatat dari aset keuangan atau liabilitas keuangan. calculating the effective interest, the Bank and
Pada saat menghitung suku bunga efektif, Bank dan Subsidiaries estimate future cash flows
Entitas Anak mengestimasi arus kas di masa datang considering all contractual terms of the financial
dengan mempertimbangkan seluruh persyaratan instrument but not future credit losses.
kontraktual dalam instrumen keuangan tersebut,
tetapi tidak mempertimbangkan kerugian kredit
dimasa mendatang.
Saat estimasi arus kas telah direvisi, nilai tercatat Where the estimates of cash flows have been
atas aset atau liabilitas keuangan disesuaikan untuk revised, the carrying amount of the financial asset
merefleksikan arus kas yang aktual setelah or liability is adjusted to reflect the actual cash
restrukturisasi yang didiskontokan pada suku bunga flows after restructuring discounted at the
efektif awal. Penyesuaian ini diakui sebagai instruments original effective interest rate. The
pendapatan atau beban pada periode dilakukannya adjustment is recognized as income or expense in
revisi. the period in which the revision is made.
Pendapatan dan beban bunga yang disajikan di Interest income and expenses presented in profit
dalam laba rugi meliputi: or loss include:
 Bunga atas aset keuangan dan liabilitas  Interest on financial assets and financial
keuangan yang dicatat pada biaya perolehan liabilities at amortized cost calculated using
diamortisasi yang dihitung dengan effective interest rate method;
menggunakan metode suku bunga efektif;
 Bunga atas aset keuangan yang diukur pada nilai  Interest on fair value through other
wajar melalui penghasilan komprehensif lain comprehensive income financial assets
yang dihitung dengan menggunakan metode calculated using on the effective interest rate
suku bunga efektif; method;
 Bunga atas semua aset keuangan yang  Interest on all fair value through profit or loss
diklasifikasikan dalam kelompok diukur pada nilai financial assets. Interest income on all fair
wajar melalui laba rugi. Pendapatan bunga dari value through profit or loss financial assets are
semua aset keuangan yang diukur pada nilai considered to be incidental to the Bank’s
wajar melalui laba rugi dipandang tidak signifikan trading operations.
terhadap kegiatan perdagangan Bank.
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x. Pendapatan dan beban bunga (lanjutan) x. Interest income and expenses (continued)
Pendapatan bunga atas aset keuangan yang Interest on the impaired financial asset is
mengalami penurunan nilai diakui menggunakan suku recognized using the interest rate used to discount
bunga yang digunakan untuk mendiskonto arus kas the future cash flows for the purpose of measuring
masa datang dalam pengukuran kerugian penurunan the impairment loss.
nilai.
Pendapatan syariah terdiri dari pendapatan dari piutang Sharia income consists of income from murabahah
murabahah, bagi hasil pembiayaan musyarakahdan receivables, profit distribution of musyarakah
pendapatan atas investasi pada efek-efek syariah financing and income on investment in sharia
berikut amortisasi beban terkait. securities including the amortization of related
costs.
Pada saat pinjaman yang diberikan diklasifikasikan When a loan is classified as non-performing, any
sebagai bermasalah, bunga yang telah diakui tetapi interest income previously recognized but not yet
belum tertagih akan dibatalkan pengakuannya. collected is reversed against interest income. The
Selanjutnya bunga yang dibatalkan tersebut diakui reversed interest income is recognized as a
sebagai tagihan kontinjensi. contigent receivable.
Pendapatan marjin murabahah diakui selama masa Murabahah margin income is recognized during
akad dengan dasar akrual. Pendapatan bagi hasil the contract period using accrual basis. Income
pembiayaan musyarakah diakui pada saat diterima from profit distribution of musyarakah financing is
atau dalam periode terjadinya hak bagi hasil sesuai recognized when received or in the period when
porsi bagi hasil (nisbah) yang disepakati. the rights arise in accordance with agreed
distribution ratio (nisbah).
Beban syariah terdiri dari beban bagi hasil dari Sharia expense consists of expense for profit
simpanan nasabah dengan akad mudharabah dan distribution on customer deposits with mudharabah
bonus atas simpanan dengan akad wadiah. contract and bonus on customers deposits with
wadiah contract.
Pendapatan bunga atas aset keuangan baik yang Interest income for financial assets held at either
diukur dengan nilai wajar melalui penghasilan fair value through other comprehensive income or
komprehensif lain atau biaya perolehan diamortisasi amortized cost and interest expense on all financial
dan beban bunga atas seluruh liabilitas keuangan yang liabilities held at amortized cost are recognized in
diukur dengan biaya perolehan diamortisasi, diakui profit or loss using the effective interest method.
pada laba rugi berdasarkan suku bunga efektif.
Pendapatan bunga atas aset keuangan yang diukur Interest income for financial assets that are either
dengan nilai wajar melalui penghasilan komprehensif held at fair value through other comprehensive
lain atau biaya diamortisasi yang mengalami penurunan income or amortized cost that have become credit
nilai setelah pengakuan awal (Tahap 3) diakui impaired subsequent to initial recognition (Stage 3)
berdasarkan suku bunga efektif kredit yang is recognized using the credit adjusted effective
disesuaikan. Tingkat bunga ini dihitung dengan cara interest rate. This rate is calculated in the same
yang sama dalam perhitungan suku bunga efektif manner as the effective interest rate except that
kecuali bahwa cadangan kerugian kredit ekspektasian expected credit losses are included in the expected
dimasukkan dalam arus kas ekspektasian. Oleh cash flows. Interest income is therefore recognized
karenanya, pendapatan bunga diakui atas aset on the amortized cost of the financial asset
keuangan dalam klasifikasi biaya perolehan including expected credit losses. Should the credit
diamortisasi termasuk kerugian kredit ekspektasian. risk on a Stage 3 financial asset improve such that
Dalam kondisi risiko kredit atas aset keuangan Tahap 3 the financial asset is no longer considered credit
mengalami perbaikan sehingga aset keuangan tidak impaired, interest income recognition reverts to a
lagi dipertimbangkan mengalami penurunan nilai, computation based on the rehabilitated the
pengakuan pendapatan bunga dihitung berdasarkan carrying value of the financial asset gross.
nilai tercatat bruto aset keuangan.
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y. Pendapatan dan beban provisi dan komisi dan y. Fees and commission income and expense and
imbalan jasa lain other fees
Pendapatan dan beban provisi dan komisi yang Fees and commission income and expenses that
merupakan bagian tak terpisahkan dari suku bunga are integral to the effective interest rate of a
efektif atas aset keuangan atau liabilitas keuangan financial asset or financial liability are included in
dimasukkan ke dalam perhitungan suku bunga the calculation of effective interest rate.
efektif.
Pendapatan provisi dan komisi serta imbalan jasa Fees and commission income and other fees,
lain termasuk provisi yang terkait dengan kegiatan including credit related fees, bancassurance
perkreditan, bancasurance, kegiatan ekspor-impor, related fees, export-import related fees, cash
manajemen kas, provisi sebagai pengatur sindikasi management, syndication lead arranger fees, and
dan provisi atas jasa lainnya diakui pada saat jasa other service fees are recognized as the related
tersebut dilakukan. services are performed.
Beban provisi dan komisi lainnya sehubungan Other fees and commission expense related
dengan transaksi antar bank diakui sebagai beban interbank transactions are expensed as the
pada saat jasa tersebut diterima. services are received.
Apabila pinjaman diselesaikan sebelum jatuh tempo, The outstanding balances of unamortized fees and
maka saldo pendapatan provisi dan komisi yang commissions on loans terminated or settled prior to
belum diamortisasi diakui pada saat pinjaman maturity are recognized as income upon
diselesaikan. settlement.
z. Keuntungan atau kerugian dari perubahan nilai z. . Gains or losses from changes in fair value of
wajar atas instrumen keuangan financial instruments
Keuntungan atau kerugian dari perubahan nilai Gains or losses from changes in fair value of
wajar instrumen keuangan merupakan perubahan financial instruments represents changes in fair
nilai wajar efek-efek dan Obligasi Pemerintah yang value of trading marketable securities and
diperdagangkan dan instrumen derivatif. Government Bonds and derivative instruments.
aa. Efek yang diterbitkan aa. Securities issued
Efek yang diterbitkan dicatat sebesar nilai nominal Securities issued are presented at nominal value,
dikurangi saldo diskonto yang belum diamortisasi. net of unamortized discounts. Bond issuance costs
Beban emisi obligasi sehubungan dengan in connection with the issuance of bonds are
penerbitan obligasi diakui sebagai diskonto dan recognized as discounts and directly deducted
dikurangkan langsung dari hasil emisi obligasi. from the proceeds of securities issued. The
Diskonto diamortisasi selama jangka waktu obligasi discounts are amortized over the period of the
tersebut dengan menggunakan metode suku bunga bonds using the effective interest rate method.
efektif.
ab. Sukuk mudharabah ab. Mudharabah bonds
Entitas Anak pada awalnya mengakui sukuk The Subsidiary initially recognizes mudharabah
mudharabah pada saat sukuk mudharabah bonds on the date of issuance of mudharabah
diterbitkan sebesar nominalnya. Setelah pengakuan bonds at nominal value. Subsequent to initial
awal, sukuk mudharabah dicatat pada biaya recognition, mudharabah bonds are measured at
perolehan. cost.
Biaya transaksi sehubungan dengan penerbitan Transaction costs related to the issuance of
sukuk mudharabah diakui secara terpisah dari sukuk mudharabah bonds are recognized separately
mudharabah. Biaya transaksi diamortisasi from mudharabah bonds. Transaction costs are
menggunakan metode garis lurus selama jangka amortized using straight-line method over the term
waktu sukuk mudharabah dan dicatat sebagai of mudharabah bonds and are recorded as part of
bagian dari beban keuangan. financing charges.
572


ab. Sukuk mudharabah (lanjutan) ab. Mudharabah bonds (continued)
Sukuk mudharabah disajikan sebagai bagian dari Mudharabah bonds are presented as a part of
liabilitas dan biaya transaksi sehubungan liabilities and the transaction costs related to the
penerbitan sukuk mudharabah disajikan dalam aset issuance of mudharabah bonds are presented in
sebagai biaya dibayar dimuka. assets as part of prepaid expenses.
ac. Perpajakan ac. Taxation
Beban pajak terdiri dari beban pajak kini dan beban Income tax expense comprises of current and
pajak tangguhan. Beban pajak diakui pada laba rugi deferred tax. Income tax expense is recognized in
kecuali untuk akun yang langsung diakui di profit or loss except to the extent it relates to
komponen ekuitas lainnya, dimana beban pajak accounts recognized directly in other equity
yang terkait dengan akun tersebut diakui di components, in which case it is recognized in other
penghasilan komprehensif lain. comprehensive income.
Beban pajak kini adalah utang pajak yang ditentukan Current tax expense is the expected tax payable
berdasarkan laba kena pajak untuk tahun yang on the taxable income for the year, calculated
bersangkutan yang dihitung berdasarkan tarif pajak using tax rates enacted or substantively enacted at
yang berlaku atau yang secara substansial telah the reporting date.
berlaku pada tanggal pelaporan.
Bank dan Entitas Anak menerapkan metode aset The Bank and Subsidiaries adopt the asset and
dan liabilitas dalam menghitung beban pajaknya. liability method in determining their income tax
Dengan metode ini, aset dan liabilitas pajak expense. Under this method, deferred tax assets
tangguhan diakui pada setiap tanggal pelaporan and liabilities are recognized at each reporting date
sebesar perbedaan temporer aset dan liabilitas for temporary differences between the accounting
untuk tujuan akuntansi dan tujuan pajak. Metode ini and tax bases of assets and liabilities. This method
juga mengharuskan pengakuan manfaat pajak di also requires the recognition of future tax benefits,
masa akan datang, jika kemungkinan realisasi to the extent that realization of such benefits is
manfaat tersebut di masa mendatang cukup besar probable. Currently enacted or substantively
(probable). Tarif pajak yang berlaku atau yang enacted tax rates are used in the determination of
secara substansial telah berlaku digunakan dalam deferred income tax.
menentukan pajak penghasilan tangguhan.
Aset pajak tangguhan diakui apabila terdapat Deferred tax assets are recognized to the extent
kemungkinan besar bahwa jumlah laba fiskal pada that it is probable that future taxable profit will be
masa datang akan memadai untuk available to compensate the temporary differences
mengkompensasi perbedaan temporer yang which result in such deferred tax assets.
menimbulkan aset pajak tangguhan tersebut.
Aset dan liabilitas pajak penghasilan tangguhan Deferred income tax assets and liabilities are offset
dapat saling hapus apabila terdapat hak yang when there is a legally enforceable right to offset
berkekuatan hukum untuk melakukan saling hapus current tax assets against current tax liabilities and
antara aset pajak kini dengan liabilitas pajak kini dan when the deferred income tax assets and liabilities
apabila aset dan liabilitas tangguhan terkait pajak relate to income taxes levied by the same taxation
penghasilan yang dikenakan oleh otoritas authority on either the same taxable entity or
perpajakan yang sama, baik atas entitas kena pajak different taxable entities where there is an intention
yang sama ataupun berbeda dan adanya niat untuk to settle the balances on a net basis.
melakukan penyelesaian saldo-saldo tersebut
secara neto.
Perubahan terhadap kewajiban perpajakan dicatat Amendments to taxation obligations are recorded
pada saat diterimanya surat ketetapan, atau apabila when an assessment is received or, if appeal is
dilakukan banding, ketika hasil banding diterima. applied, when the results of the appeal are
received.
573




ad. Imbalan kerja ad. Employee benefits
Imbalan kerja jangka pendek Short-term employees’ benefits
Imbalan kerja jangka pendek diakui pada saat Short-term employees’ benefits are recognized
terutang kepada karyawan berdasarkan metode when they are owed to the employees based on
akrual. accrual method.
Imbalan kerja jangka panjang dan imbalan Long-term and post-employment benefits
pasca-kerja
Imbalan kerja jangka panjang dan imbalan Long-term and post-employment benefits, such as
pasca-kerja, seperti pensiun, uang pesangon, uang pension, severance pay, service pay and other
penghargaan dan imbalan lainnya, dihitung benefits, are calculated in accordance with
berdasarkan “Peraturan Perseroan” yang telah “Company Regulation” which is in line with Labour
sesuai dengan Undang-undang Ketenagakerjaan Law No.13/2003 (“Law 13/2003”).
No.13/2003 (“UU 13/2003”).
Bank dan Entitas Anak menerapkan PSAK 24: Bank and Subsidiaries applies PSAK 24,
Imbalan Kerja. Employee Benefits.
Kewajiban imbalan pasca-kerja yang diakui di The obligation for post-employment benefits
laporan posisi keuangan dihitung berdasarkan nilai recognized in the statement of financial position is
kini dari estimasi kewajiban imbalan pasca-kerja di calculated at present value of estimated future
masa depan yang timbul dari jasa yang telah benefits that the employees have earned in return
diberikan oleh karyawan pada masa kini dan masa for their services in the current and prior years,
lalu, dikurangi dengan nilai wajar aset neto dana deducted by any plan assets. The calculation is
pensiun. Perhitungan dilakukan oleh aktuaris performed by an independent actuary using the
independen dengan metode projected-unit-credit. projected-unit-credit method.
Ketika imbalan pasca-kerja berubah, porsi kenaikan When the post-employment benefits change, the
atau penurunan imbalan sehubungan dengan jasa portion of the increased or decreased benefits
yang telah diberikan oleh karyawan pada masa lalu relating to past services by employees is charged
dibebankan atau dikreditkan ke dalam laporan laba or credited to the statement of profit or loss. To the
rugi. Imbalan pasca-kerja yang telah dan belum extent that the benefits vest and not yet vest, the
menjadi hak karyawan diakui segera sebagai beban expense is recognized immediately in the
dalam laporan laba rugi. statement of profit or loss.
Keuntungan atau kerugian aktuarial yang timbul dari Actuarial gains or losses arising from experience
penyesuaian dan perubahan dalam asumsi-asumsi adjustments and changes in actuarial assumptions
aktuarial langsung diakui seluruhnya melalui are directly fully recognized to other
penghasilan atau beban komprehensif lainnya pada comprehensive income or expense in the year
tahun dimana keuntungan/(kerugian) aktuarial when such actuarial gains/(losses) occur.
terjadi.
Bank dan Entitas Anak telah memiliki program Bank and Subsidiaries also has a defined
pensiun iuran pasti yang mana Bank dan Entitas contribution pension program where Bank and
Anak membayar iuran ke dana pensiun lembaga Subsidiaries pays contributions to a financial
keuangan yang dihitung berdasarkan persentase institution pension plan which is calculated at a
tertentu dari penghasilan tetap yang diterima certain percentage of fixed income of employees
karyawan yang sudah memenuhi kriteria yang who meet Bank and Subsidiaries’ criteria. The
ditetapkan Bank dan Entitas Anak. Iuran dibebankan contributions are charged to the statement of profit
ke dalam laporan laba rugi pada saat terhutang. or loss as they become payable.
574


ad. Imbalan kerja (lanjutan) ad. Employee benefits (continued)
Imbalan kerja jangka panjang lainnya Other long-term employment benefits
Bank dan Entitas Anak memberikan imbalan kerja Bank and Subsidiaries provides other long-term
jangka panjang lainnya berupa tunjangan cuti besar employment benefits in the form of long service
yang ditentukan sesuai dengan Peraturan Entitas leave award which is determined in compliance
Anak. Perkiraan beban imbalan ini dihitung dan with the Subsidiaries’ Regulation. The expected
diakui sepanjang masa kerja karyawan dengan costs of these benefits are calculated and
menggunakan metode yang diterapkan dalam recognized over the year of employment, using a
menghitung kewajiban imbalan pasca-kerja. method which is applied in calculating obligation
Kewajiban ini dihitung minimum satu tahun sekali for post-employment benefits. These obligations
oleh aktuaris independen. Imbalan kerja jangka are calculated minimum once a year by an
panjang lainnya yang telah menjadi hak karyawan independent actuary. Other long term employment
diakui segera sebagai beban dalam laporan laba benefits that are vested, are recognized as
rugi. expense immediately in the statement of profit or
loss.
Pesangon Termination benefits
Pesangon terutang ketika karyawan dihentikan kontrak Termination benefits are payable whenever an
kerjanya sebelum usia pensiun normal. Bank dan employee’s employment is terminated before the
Entitas Anak mengakui kewajiban pesangon ketika normal retirement age. The Bank and Subsidiaries
Bank dan Entitas Anak menunjukkan komitmennya recognize termination benefits liability when it is
untuk memutuskan kontrak kerja dengan karyawan demonstrably committed to terminate the employment
berdasarkan suatu rencana formal terperinci yang kecil of current employees according to a detailed formal
kemungkinannya untuk dibatalkan. Pesangon yang plan and the possibility to withdraw the plan is remote.
akan dibayarkan dalam waktu lebih dari 12 bulan Benefits falling due more than 12 months after the
setelah tanggal pelaporan didiskontokan untuk reporting date are discounted at present value.
mencerminkan nilai kini.
Program kompensasi jangka panjang Long-term compensation program
Bank dan Entitas Anak memberikan program The Bank and Subsidiaries provide long-term
kompensasi jangka panjang kepada Direksi dan compensation program to the Bank’s and
karyawan Bank dan Entitas Anak yang memenuhi Subsidiaries’ Board of Directors and eligible
persyaratan. Program ini diberikan berdasarkan employees. The program is granted based on
pencapaian target tertentu perusahaan dan peringkat achievement of certain corporate measurements and
kerja perorangan. Beban kompensasi dihitung individual performance rating. The compensation
berdasarkan nilai uang yang dikeluarkan Bank dan expense is calculated based on the amount of money
Entitas Anak dan diamortisasi selama masa tunggu. paid by the Bank and Subsidiaries and is amortized
during the holding period.
ae. Laba bersih per saham ae. Earnings per share
Laba bersih per saham dasar dihitung dengan membagi Basic earnings per share are computed by dividing net
laba bersih yang diatribusikan kepada pemilik entitas income attributable to equity holders of parent entity
induk dengan rata-rata tertimbang jumlah saham yang with the weighted average number of shares
beredar pada tahun berjalan. outstanding during the year.
af. Beban emisi saham af. Shares issuance cost
Beban yang terjadi sehubungan dengan Penawaran Cost incurred in relation with Limited Public Offering
Umum Terbatas dengan Hak Memesan Efek Terlebih with Pre-emptive Rights (Rights Issue) is recorded as
Dahulu (Rights Issue), dicatat sebagai pengurang deduction from the additional paid-up capital which
tambahan modal disetor, yang merupakan selisih antara represents the excess of funds received from the
nilai yang diterima dari pemegang saham dengan nilai shareholders over the par value of shares.
nominal saham.
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ag. Dividen ag. Dividend
Pembagian dividen kepada para pemegang saham Dividend distribution to the Bank’s shareholders is
Bank diakui sebagai sebuah liabilitas dalam laporan recognized as a liability in the Bank and Subsidiaries’
keuangan konsolidasian Bank dan Entitas Anak pada consolidated financial statements in the year in which
tahun ketika dividen tersebut disetujui oleh para the dividends are approved by the Bank’s and
pemegang saham Bank dan Entitas Anak. Subsidiaries’ shareholders.
ah. Transaksi dengan pihak yang berelasi ah. Transactions with related parties
Bank dan Entitas Anak melakukan transaksi dengan The Bank and Subsidiaries enter into transactions
pihak yang berelasi. Dalam laporan keuangan with related parties. In these consolidated financial
konsolidasian ini, istilah pihak yang berelasi mengacu statements, the term related parties are used as
pada ketentuan PSAK 7, “Pengungkapan Pihak- defined in the PSAK 7, “Related Party Disclosures”.
Pihak yang Berelasi”.
Jenis transaksi dan saldo dengan pihak-pihak The nature of transactions and balances of accounts
berelasi, yang dilakukan berdasarkan persyaratan with related parties, which are made based on
usaha pada umumnya, yang disetujui oleh kedua commercial terms agreed by the parties, whereby
belah pihak, dimana persyaratan tersebut mungkin such terms may not be the same as those of the
tidak sama dengan transaksi lain yang dilakukan transactions between unrelated parties, are disclosed
dengan pihak-pihak yang tidak berelasi, diungkapkan in the notes to the consolidated financial statements.
dalam catatan atas laporan keuangan konsolidasian.
ai. Pinjaman Subordinasi ai. Subordinated Loan
Pinjaman subordinasi diakui sebesar nilai wajar pada Subordinated loan are initially recognized at fair value
awalnya dan selanjutnya diukur sebesar nilai biaya and subsequently measured at amortized cost using
perolehan diamortisasi dengan menggunakan metode the effective interest rate method. Amortized cost is
suku bunga efektif. Biaya perolehan diamortisasi calculated by taking into account any discount or
dihitung dengan memperhitungkan adanya diskonto premium on subordinated loan and transaction costs
atau premi terkait dengan pengakuan awal pinjaman that are an integral part of the effective interest rate.
subordinasi dan biaya transaksi yang merupakan
bagian yang tidak terpisahkan dari suku bunga efektif.
aj. Segmen operasi aj. Operating segments
Segmen operasi adalah komponen dari Bank yang An operating segment is a component of the Bank that
terlibat dalam aktivitas bisnis yang menghasilkan engages in business activities from which it may earn
pendapatan dan menimbulkan beban, termasuk revenues and incur expenses, including revenues and
pendapatan dan beban yang terkait dengan transaksi expenses that relate to transactions with any of the
dengan komponen lain Bank, dimana hasil operasinya Bank's other components, whose operating results
dikaji ulang secara berkala oleh pengambil keputusan are reviewed regularly by the chief operating decision-
operasional untuk membuat keputusan mengenai maker to make decisions about resources allocated to
sumber daya yang akan dialokasikan pada segmen the segment and assess its performance and for
tersebut dan menilai kinerjanya, serta tersedia informasi which discrete financial information is available.
keuangan yang dapat dipisahkan. Hasil segmen yang Segment results that are reported to the chief
dilaporkan kepada pengambil keputusan operasional operating decision-maker include items directly
meliputi komponen-komponen yang dapat diatribusikan attributable to a segment, as well as those that can be
secara langsung kepada suatu segmen dan komponen- allocated on a reasonable basis. Unallocated items
komponen yang dapat dialokasikan dengan dasar yang mainly comprise of income tax assets and liabilities,
wajar. Komponen yang tidak dapat dialokasikan including current and deferred taxes and fixed assets.
terutama terdiri dari aset dan liabilitas pajak
penghasilan, termasuk pajak kini dan pajak tangguhan
serta aset tetap.
576

3. PENGGUNAAN ESTIMASI DAN PERTIMBANGAN 3. USE OF ESTIMATES AND JUDGEMENTS
a. Sumber utama atas ketidakpastian estimasi a. Key sources of estimation uncertainty

a.1. Cadangan kerugian kredit ekspektasian a.1. Allowances for expected credit losses
Evaluasi atas kerugian penurunan nilai Financial assets accounted for at amortized cost
dilakukan atas aset keuangan yang dicatat and debt securities classified as measured at
pada biaya perolehan diamortisasi dan efek fair value through other comprehensive income
utang yang diklasifikasikan sebagai diukur are evaluated for impairment.
pada nilai wajar melalui penghasilan
komprehensif lain.
Cadangan kerugian penurunan nilai terkait The specific counterparty component of the total
dengan pihak lawan spesifik dalam seluruh allowances for impairment applies to claims
cadangan kerugian penurunan nilai dibentuk evaluated individually for impairment and is
atas tagihan yang penurunan nilainya based upon management’s best estimate of the
dievaluasi secara individual berdasarkan present value of the cash flows that are
estimasi terbaik manajemen atas nilai tunai expected to be received. In calculating
arus kas yang diharapkan akan diterima. allowance for impairment losses, management
Dalam menghitung cadangan kerugian makes judgements about the counterparty’s
penurunan nilai, manajemen membuat financial situation and the net realizable value of
pertimbangan mengenai kondisi keuangan dari any underlying collateral. Each impaired asset is
pihak lawan dan nilai neto yang dapat assessed on its merits, and the workout strategy
direalisasi dari agunan yang diterima. Setiap and estimated cash flows considered
aset yang mengalami penurunan nilai recoverable are independently approved by the
dievaluasi, dan strategi penyelesaiannya serta credit risk unit.
estimasi arus kas yang dinilai dapat diperoleh
kembali disetujui secara independen oleh
bagian risiko kredit.
Informasi mengenai pertimbangan dan Information regarding the judgments and

estimasi yang dibuat oleh Bank diungkapkan di estimates made by the Bank are disclosed in
Catatan 50b. Note 50b.
Ketepatan dari cadangan ini bergantung pada The accuracy of the allowances depends on
seberapa tepat estimasi arus kas masa depan how accurate these future cash flows are
untuk menentukan cadangan individual serta estimated for individual allowances and the
asumsi model dan parameter yang digunakan model assumptions and parameters used in
dalam penentuan cadangan kolektif. determining collective allowances.
a.2. Cadangan kerugian penurunan nilai aset yang a.2. Allowances for impairment losses of non-
bukan aset keuangan financial assets
Penurunan nilai muncul saat nilai tercatat aset An impairment exists when the carrying value
atau Unit Penghasil Kas (“UPK”) melebihi nilai of an asset or Cash Generating Unit (“CGU”)
terpulihnya, yaitu yang lebih besar antara nilai exceeds its recoverable amount, which is the
wajar dikurangi biaya untuk menjual dan nilai higher of its fair value less costs to sell and its
pakainya. Nilai wajar dikurangi biaya untuk value in use. The fair value less costs to sell
menjual didasarkan pada ketersediaan data calculation is based on available data from
dari perjanjian penjualan yang mengikat yang binding sales transactions in an arm’s length
dibuat dalam transaksi normal atas aset serupa transaction of similar assets or observable
atau harga pasar yang dapat diamati dikurangi market prices less incremental costs for
dengan biaya tambahan yang dapat disposing the asset.
diatribusikan dengan pelepasan aset.
577




a. Sumber utama atas ketidakpastian estimasi a. Key sources of estimation uncertainty

a.3. Penentuan nilai wajar a.3. Determining fair values
Dalam menentukan nilai wajar atas aset In determining the fair value of financial
keuangan dan liabilitas keuangan dimana tidak assets and financial liabilities for which there
terdapat harga pasar yang dapat diobservasi, is no observable market price, the Bank and
Bank dan Entitas Anak menggunakan teknik Subsidiaries use the valuation techniques.
penilaian. Untuk instrumen keuangan yang For financial instruments that are traded
jarang diperdagangkan dan tidak memiliki infrequently and have less price
harga yang transparan, nilai wajarnya menjadi transparency, fair value is less objective, and
kurang obyektif dan karenanya, membutuhkan requires varying degrees of judgement
tingkat pertimbangan yang beragam, depending on liquidity, concentration,
tergantung pada likuiditas, konsentrasi, uncertainty of market factors, pricing
ketidakpastian faktor pasar, asumsi penentuan assumptions, and other risks affecting the
harga, dan risiko lainnya yang mempengaruhi specific instrument.
instrumen tertentu.
a.4. Aset pajak tangguhan a.4. Deferred tax assets
Aset pajak tangguhan diakui atas jumlah pajak Deferred tax assets are recognized for the
penghasilan terpulihkan (recoverable) pada future recoverable taxable income arising
periode mendatang sebagai akibat perbedaan from temporary difference.
temporer yang boleh dikurangkan.
Justifikasi manajemen diperlukan untuk Management judgement is required to

menentukan jumlah aset pajak tangguhan yang determine the amount of deferred tax assets
dapat diakui, sesuai dengan waktu yang tepat that can be recognized, based upon the likely
dan tingkat laba fiskal di masa mendatang timing and level of future taxable profits,
sejalan dengan strategi rencana perpajakan ke together with future tax planning strategies.
depan.
a.5. Pensiun a.5. Pension
Kewajiban liabilitas imbalan pasca-kerja Obligations for post-employment benefit are

ditentukan berdasarkan perhitungan aktuarial. determined based on actuarial valuation. The
Perhitungan aktuarial menggunakan asumsi- actuarial valuation involves assumptions such
asumsi seperti tingkat diskonto, tingkat as discount rate, expected rate of returns on
pengembalian aset, tingkat kenaikan plan assets, salary increase rate, mortality
penghasilan, tingkat kematian, tingkat rate, resignation rate, and others.
pengunduran diri, dan lain-lain.
578


b. Pertimbangan akuntansi yang penting dalam b. Critical accounting judgements in applying the
menerapkan kebijakan akuntansi Bank dan Entitas Bank and Subsidiaries’ accounting policies
Anak
Pertimbangan akuntansi yang penting dalam Critical accounting judgements made in applying the
menerapkan kebijakan akuntansi Bank dan Entitas Bank and Subsidiaries’ accounting policies include:
Anak meliputi:
Penilaian instrumen keuangan Valuation of financial instruments
Bank dan Entitas Anak mengukur nilai wajar dengan The Bank and Subsidiaries measure fair values using
menggunakan hierarki dari metode berikut: the following hierarchy of methods:
 Harga kuotasi di pasar aktif untuk instrumen  Quoted market price in an active market for
keuangan yang identik. an identical instrument.
 Teknik penilaian berdasarkan input yang dapat  Valuation techniques based on observable
diobservasi. Termasuk dalam kategori ini inputs. This category includes instruments
adalah instrumen keuangan yang dinilai valued using quoted market prices in active
dengan menggunakan harga kuotasi di pasar markets for similar instruments; quoted prices
aktif untuk instrumen yang sejenis; harga for similar instruments in markets that are
kuotasi untuk instrumen keuangan yang considered less than active; or other
sejenis di pasar yang kurang aktif; atau teknik valuation techniques where all significant
penilaian lainnya dimana seluruh input inputs are directly or indirectly observable
signifikan yang digunakan dapat diobservasi from market data.
secara langsung ataupun tidak langsung dari
data yang tersedia di pasar.
Nilai wajar dari aset keuangan dan liabilitas keuangan Fair values of financial assets and financial liabilities
yang diperdagangkan di pasar aktif didasarkan pada that are traded in active markets are based on quoted
kuotasi harga pasar atau kuotasi dari harga dealer. market prices or dealer price quotations. For all other
Untuk seluruh instrumen keuangan lainnya, Bank dan financial instruments, the Bank and Subsidiaries
Entitas Anak menentukan nilai wajar dengan determine fair values using valuation techniques.
menggunakan teknik penilaian. Teknik penilaian Valuation techniques include net present value and
termasuk model nilai tunai dan arus kas yang discounted cash flow models, and comparison to
didiskontokan, dan perbandingan dengan instrumen similar instruments for which market observable
yang sejenis dimana terdapat harga pasar yang dapat prices exist. Assumptions and inputs used in
diobservasi. Asumsi dan input yang digunakan dalam valuation techniques include risk-free and benchmark
teknik penilaian termasuk suku bunga bebas risiko (risk- interest rates, credit spreads and other variable used
free) dan suku bunga acuan, credit spread dan variabel in estimating discount rates, bond prices, foreign
lainnya yang digunakan dalam mengestimasi tingkat currency exchange rates, and expected price
diskonto, harga obligasi, kurs mata uang asing, serta volatilities and correlations.
tingkat kerentanan dan korelasi harga yang diharapkan.
Tujuan dari teknik penilaian adalah penentuan nilai The objective of valuation techniques is to arrive at a
wajar yang mencerminkan harga dari instrumen fair value determination that reflects the price of the
keuangan pada tanggal pelaporan yang akan financial instrument at the reporting date that would
ditentukan oleh para pelaku di pasar dalam suatu have been determined by market participants acting
transaksi yang wajar. at arm’s length.
579


4. KAS 4. CASH
2021 2020
Rupiah 2.593.622 2.540.326 Rupiah

Mata uang asing (Catatan 55) 195.933 297.801 Foreign currencies (Note 55)
2.789.555 2.838.127
Saldo dalam mata uang Rupiah termasuk uang pada The Rupiah balance includes cash in ATMs (Automated
mesin ATM (Anjungan Tunai Mandiri) sejumlah Rp297.062 Teller Machines) amounting to Rp297,062 as of
pada tanggal 31 Desember 2021 (2020: Rp359.909). 31 December 2021 (2020: Rp359,909).
5. GIRO PADA BANK INDONESIA 5. CURRENT ACCOUNTS WITH BANK INDONESIA
2021 2020
Rupiah 2.251.541 1.585.431 Rupiah

Mata uang asing (Catatan 55) 808.473 600.567 Foreign currencies (Note 55)
3.060.014 2.185.998
Sesuai PBI No.20/3/PBI/2018 dan perubahan terakhirnya In accordance with PBI No.20/3/PBI/2018 and its latest
dalam PBI No.23/16/PBI/2021; PADG amendment in PBI No.23/16PBI/2021; PADG
No.20/10/PADG/2018 dan perubahan terakhirnya dalam No.20/10/PADG/2018 and its latest amendment in PADG
PADG No.23/27/PADG/2021 yang efektif berlaku tanggal PADG No.23/27/PADG/2021 which was effective since
21 Desember 2021 tentang Giro Wajib Minimum Dalam 21 December 2021 regarding Statutory Reserve
Rupiah dan Valuta Asing Bagi Bank Umum Konvensional, Requirement (GWM) in Rupiah and Foreign Currency of
Bank Umum Syariah dan Unit Usaha Syariah, GWM dalam Conventional Banks, Sharia Banks and Sharia Business
mata uang Rupiah ditetapkan sebesar 3,5% dari dana Units for 3.5% of total third party funds in Rupiah. GWM in
pihak ketiga dalam Rupiah. GWM dalam valuta asing foreign currencies is set at 4% of total third party funds in
ditetapkan sebesar 4% dari dana pihak ketiga dalam valuta foreign currencies. In accordance with PBI
asing. Sesuai PBI No.20/4/PBI/2018 dan perubahan No.20/4/PBI/2018 and its latest amendment in
terakhirnya dalam PBI No.23/17/PBI/2021 dan PADG PBI No.23/17/PBI/2021 and PADG No.21/22/PADG/2019
No.21/22/PADG/2019 dan perubahan terakhirnya sesuai and the latest amendment in PADG No.23/7/PADG/2021
PADG No.23/7/PADG/2021 tentang Rasio Intermediasi regarding Macroprudential Intermediation Ratio (RIM) and
Makroprudensial (RIM) dan Penyangga Likuiditas Macroprudential Liquidity Buffer for Conventional Banks,
Makroprudensial Bagi Bank Umum Konvensional, Bank Sharia Commercial Banks and Sharia Business Units,
Umum Syariah dan Unit Usaha Syariah, Penyangga Macroprudential Liquidity Buffer (PLM) is set at 6% of total
Likuiditas Makroprudensial (PLM) ditetapkan sebesar 6% third party funds in Rupiah.
dari dana pihak ketiga dalam Rupiah.
2021 2020
Rupiah Rupiah
GWM Secara Rata-rata 3,53% 3,05% Average Minimum Statutory Reverse
Penyangga Likuiditas
Makroprudensial (PLM) 30,31% 30,27% Macroprudential Liquidity Buffer
Mata uang asing Foreign currencies

GWM Secara Rata-rata 4,10% 4,10% Average Minimum Statutory Reverse
Bank telah memenuhi ketentuan BI yang berlaku tentang The Bank has fulfilled BI’s regulation regarding Statutory
Giro Wajib Minimum dan Penyangga Likuiditas Reserve Requirement and Macroprudential Liquidity Buffer
Makroprudensial bagi Bank Umum. on Commercial Banks.
580

6. GIRO PADA BANK LAIN 6. CURRENT ACCOUNTS WITH OTHER BANKS
a. Berdasarkan mata uang a. By currency
2021 2020
Rupiah 939.413 3.121.778 Rupiah

Mata uang asing
(Catatan 55) 2.039.810 1.296.809 Foreign currencies (Note 55)
2.979.223 4.418.587
Dikurangi: Less:
Kerugian kredit ekspektasian (1.589) (1.514) Expected credit losses
2.977.634 4.417.073
Suku bunga efektif rata-rata tertimbang per tahun untuk The weighted average effective interest rate per
tahun yang berakhir pada tanggal 31 Desember 2021 annum for the year ended 31 December 2021 was
adalah 0,05% untuk Rupiah dan 0,05% untuk mata 0.05% for Rupiah and 0.05% for foreign currencies
uang asing (2020: 0,07% dan 0,16%). (2020: 0.07% and 0.16%).
b. Berdasarkan kolektibilitas BI b. By BI collectibility
Berdasarkan ketentuan BI yang berlaku, semua giro Based on the prevailing BI regulation, all current
pada bank lain pada tanggal 31 Desember 2021 dan accounts with other banks as of 31 December 2021
2020 digolongkan lancar. and 2020 were classified as current.
c. Perubahan kerugian kredit ekspektasian c. Movements of expected credit losses
2021
Tahap 1/ Tahap 2/ Tahap 3/ Jumlah/
Stage 1 Stage 2 Stage 3 Total
Saldo awal 1.514 - - 1.514 Beginning balance
Aset keuangan yang
baru diperoleh 437 - - 437 New financial assets
Perubahan bersih pada
eksposur dan Net change in exposure and
pengukuran kembali (369) - - (369) remeasurement
Selisih kurs 7 - - 7 Exchange rate difference
Saldo Akhir 1.589 - - 1.589 Ending Balance
2020
Saldo awal - - - 686 Beginning balance
Dampak penerapan awal Effect of initial implementation
PSAK 71 - - - 394 of PSAK 71
Saldo awal PSAK 71 1.080 - - 1.080 Beginning balance of PSAK 71
Aset keuangan yang
baru diperoleh 1.483 - - 1.483 New financial assets
pengukuran kembali 735 - - 735 remeasurement
Perubahan model atau Change in model or
parameter (607) - - (607) parameter
Aset keuangan yang Derecognition of financial
sudah dilunasi (1.375) - - (1.375) assets
Manajemen berpendapat bahwa jumlah kerugian Management believes that the expected credit losses
kredit ekspektasian atas giro pada bank lain telah on current accounts with other banks is adequate.
memadai.
581


7. PENEMPATAN PADA BANK LAIN DAN BANK 7. PLACEMENTS WITH OTHER BANKS AND BANK
INDONESIA INDONESIA
a. Berdasarkan jenis dan mata uang a. By type and currency
2021 2020
Rupiah Rupiah
Penempatan pada Bank Indonesia Placements with Bank Indonesia
Fasilitas simpanan Bank Sharia Deposit facility of Bank
Indonesia (FASBI) Syariah 850.000 500.000 Indonesia (FASBI)
Fasilitas simpanan Bank Deposit facility of Bank
Indonesia (FASBI) 639.902 999.750 Indonesia (FASBI)
Deposito berjangka Bank Indonesia 4.948.887 1.849.378 Time deposit of Bank Indonesia
6.438.789 3.349.128
Sertifikat deposito Certificates of deposits
PT Bank Maybank Indonesia Tbk 29.118 48.486 PT Bank Maybank Indonesia Tbk
6.467.907 3.397.614
Mata uang asing (Catatan 55) Foreign currencies (Note 55)

Penempatan pada Bank Indonesia Placements with Bank Indonesia
Deposito berjangka Bank Indonesia 3.420.600 3.821.600 Time deposit of Bank Indonesia
Penempatan pada Bank Lain Placements with Other Banks

Call money Call money
PT Bank Negara Indonesia PT Bank Negara Indonesia
(Persero) Tbk, cabang Singapura - 84.849 (Persero) Tbk, Singapore branch
3.420.600 3.906.449
9.888.507 7.304.063
Dikurangi: Less:
Kerugian kredit ekspektasian (23) (512) Expected credit losses
9.888.484 7.303.551
Suku bunga efektif rata-rata tertimbang per tahun The weighted average effective interest rate per
untuk tahun yang berakhir pada tanggal annum for the year ended 31 December 2021 was
31 Desember 2021 adalah 2,97% untuk Rupiah dan 2.97% for Rupiah and 0.04% for foreign currencies
0,04% untuk mata uang asing (2020: 4,35% dan (2020: 4.35% and 0.68%).
0,68%).
Berdasarkan ketentuan BI yang berlaku, seluruh Based on the prevailing BI Regulation, all placements
penempatan pada bank lain dan Bank Indonesia pada with other banks and Bank Indonesia as of
tanggal 31 Desember 2021 dan 2020 digolongkan 31 December 2021 dan 2020 were classified as
sebagai lancar. current.
582

7. PENEMPATAN PADA BANK LAIN DAN BANK 7. PLACEMENTS WITH OTHER BANKS AND BANK
INDONESIA (lanjutan) INDONESIA (continued)
c. Perubahan kerugian kredit ekspektasian c. Movements of expected credit losses
2021
Saldo awal 512 - - 512 Beginning balance
Aset keuangan yang
baru diperoleh 523 - - 523 New financial assets
pengukuran kembali (1.015) - - (1.015) remeasurement
Saldo Akhir 23 - - 23 Ending Balance
2020
Saldo awal - - - 2.291 Beginning balance
PSAK 71 - - - 1.030 PSAK 71
Saldo awal PSAK 71 3.321 - - 3.321 Beginning balance of PSAK 71
Aset keuangan yang
pengukuran kembali (9.526) - - (9.526) remeasurement
Perubahan model atau
parameter (78) - - (78) Change in model or parameter
Selisih kurs (38) - - (38) Exchange rate difference
Saldo Akhir 512 - - 512 Ending Balance
Manajemen berpendapat bahwa jumlah kerugian kredit Management believes that the expected credit losses
ekspektasian atas penempatan pada bank lain telah on placements with other banks is adequate.
memadai.
583


8. EFEK-EFEK 8. MARKETABLE SECURITIES
2021 2020
Nilai nominal/ Nilai tercatat/ Nilai nominal/ Nilai tercatat/
Nominal value Carrying value Nominal value Carrying value
Biaya perolehan diamortisasi
(harga perolehan, setelah Amortized cost
premi/diskonto yang belum (cost, net of unamortized
diamortisasi): premium/discount):
Rupiah Rupiah
- Surat berharga lainnya 1.831.096 1.831.096 1.308.188 1.308.188 Other marketable securities -

- Wesel ekspor 224.178 224.178 53.046 53.046 Export bills -
Jumlah biaya perolehan diamortisasi 2.055.274 2.055.274 1.361.234 1.361.234 Total amortized cost
Nilai wajar melalui penghasilan Fair value through other

komprehensif lain (nilai wajar): comprehensive income (fair value):
Rupiah Rupiah
- Obligasi korporasi 3.213.900 3.301.466 2.858.270 2.931.502 Corporate bonds -
- Efek utang lainnya - - 230.000 230.353 Other debt securities -
3.213.900 3.301.466 3.088.270 3.161.855

- Obligasi korporasi 163.904 171.993 161.575 172.814 Corporate bonds -
Jumlah nilai wajar melalui Total fair value through

penghasilan komprehensif lain 3.377.804 3.473.459 3.249.845 3.334.669 other comprehensive income
Nilai wajar melalui laba rugi Fair value through Profit

(nilai wajar): or Loss (fair value):
Rupiah Rupiah
- Obligasi korporasi 4.750 4.999 5.050 5.208 Corporate bonds -
Jumlah efek-efek 5.437.828 5.533.732 4.616.129 4.701.111 Total marketable securities
Dikurangi: Less:
Jumlah efek-efek-neto 5.514.043 4.689.271 Total marketable securities-net
Wesel ekspor tidak terdaftar di bursa efek. The export bills are not listed at a stock exchange.
Selama tahun yang berakhir pada tanggal 31 Desember During the year ended 31 December 2021, unrealized
2021, kerugian neto yang belum direalisasi atas net losses arising from changes in fair value of
perubahan nilai wajar Efek-efek dalam klasifikasi Marketable securities classified as trading securities
diperdagangkan diakui pada laporan laba rugi sebesar are recorded in profit or loss amounting to Rp40
Rp40 (2020: keuntungan neto sebesar Rp95). (2020: net gains amounting to Rp95).
584

8. EFEK-EFEK (lanjutan) 8. MARKETABLE SECURITIES (continued)
a. Berdasarkan jenis dan mata uang (lanjutan) a. By type and currency (continued)
Bank dan Entitas Anak mengakui keuntungan neto The Bank and Subsidiaries recognized net gains from
atas penjualan efek-efek sejumlah Rp2.185 untuk the sale of marketable securities amounting to
tahun yang berakhir pada tanggal 31 Desember Rp2,185 for the year ended 31 December 2021
2021 (2020: keuntungan neto sejumlah Rp6.788). (2020: net gains amounting to Rp6,788).
b. Berdasarkan penerbit b. By issuer

2021 2020
Bank-bank 1.548.661 1.327.426 Banks
Korporasi 3.985.071 3.373.685 Corporates
5.533.732 4.701.111
Dikurangi: Less:
5.514.043 4.689.271
c. Berdasarkan kolektibilitas BI c. By BI collectability
Berdasarkan ketentuan Bank Indonesia yang Based on prevailing Bank Indonesia regulation, all
berlaku, seluruh efek-efek pada tanggal marketable securities as of 31 December 2021 and
31 Desember 2021 dan 2020 digolongkan sebagai 2020 were classified as current.
lancar.
d. Berdasarkan peringkat d. By rating

Peringkat/ Nilai tercatat/Nilai wajar/
Rating Carrying Value/Fair Value
Pemeringkat/
Rated by 2021 2020 2021 2020
Biaya perolehan diamortisasi/

Amortized cost
Rupiah/Rupiah
Tidak Tidak
Diperingkat/ Diperingkat/
Wesel SKBDN/SKBDN Bills N/A Not rated Not rated 69.115 20.782
Tidak Tidak
Wesel lainnya/Other Bills N/A Not rated Not rated 1.761.981 1.287.406
1.831.096 1.308.188
Mata uang asing/Foreign currencies

Tidak Tidak
Wesel Ekspor/Export Bills N/A Not rated Not rated 224.178 53.046
224.178 53.046
Jumlah biaya perolehan diamortisasi/
Total amortized cost 2.055.274 1.361.234
585



d. Berdasarkan peringkat (lanjutan) d. By rating (continued)
Nilai Tercatat/Nilai
Wajar/
Peringkat/ Carrying Value/Fair
Rating Value
Pemeringkat/
Rated by 2021 2020 2021 2020
Nilai wajar melalui penghasilan komprehensif lain/
Fair value through other comprehensive income:
Rupiah/Rupiah
Obligasi Berkelanjutan III Bank BRI Tahap I Tahun 2019 Seri B Pefindo idAAA idAAA 308.427 204.209
Obligasi Berkelanjutan IV Federal International Finance Tahap I Tahun
2019 Seri B Pefindo idAAA idAAA 266.139 269.831
Obligasi Berkelanjutan III Bank Maybank Indonesia Tahap I Tahun 2019
Seri B Pefindo idAAA idAAA 199.362 202.309
Obligasi Berkelanjutan IV Bank BTPN Tahap I Tahun 2019 Seri A Fitch AAA(idn) AAA(idn) 176.067 173.794
Obligasi Berkelanjutan II Sarana Multi Infrastruktur Tahap V Tahun 2020
Seri A Pefindo idAAA idAAA 156.284 150.135
Obligasi Berkelanjutan I Bussan Auto Finance Tahap III Tahun 2021 Seri
B Fitch AAA(idn) - 131.661 -
Obligasi Berkelanjutan III Federal International Finance Tahap V Tahun
2019 Seri B Fitch AAA(idn) AAA(idn) 119.272 122.447
Obligasi Berkelanjutan II Bank Panin Tahap III Tahun 2018 Pefindo idAA idAA 115.543 46.936
Obligasi Berkelanjutan III SAN Finance Tahap I Tahun 2019 Seri B Fitch AA(idn) AA(idn) 111.982 113.366
Obligasi Berkelanjutan III BCA Finance Tahap I Tahun 2019 Seri C Fitch AA+(idn) AA+(idn) 103.000 102.638
Obligasi Berkelanjutan IV Pegadaian Tahap II Tahun 2020 Seri B Pefindo idAAA idAAA 98.324 96.703
Obligasi Berkelanjutan IV Mandiri Tunas Finance Tahap II Tahun 2019
Seri A Pefindo idAA+ idAA+ 96.773 97.082
Obligasi Berkelanjutan IV Pegadaian Tahap IV Tahun 2021 Seri A Pefindo idAAA - 84.243 -
Obligasi Berkelanjutan II Protelindo Tahap II Tahun 2021 Seri B Fitch AAA(idn) - 80.197 -
Obligasi Berkelanjutan III Bank CIMB Niaga Tahap I Tahun 2019 Seri B Pefindo idAAA idAAA 77.612 77.267
Obligasi Berkelanjutan I Indonesia Infrastructure Finance Tahap II Tahun
Obligasi Berkelanjutan II Bank Maybank Indonesia Tahap IV Tahun 2019
Obligasi Berkelanjutan IV Astra Sedaya Finance Tahap IV Tahun 2020
Obligasi III Bussan Auto Finance Tahun 2019 Seri B Pefindo idAA idAA 71.867 72.105
Obligasi Berkelanjutan III Bank BTN Tahap II Tahun 2019 Seri B Pefindo idAA+ idAA+ 61.564 62.279
Obligasi Berkelanjutan III Bank BRI Tahap I Tahun 2019 Seri C Pefindo idAAA idAAA 60.809 7.183
Obligasi Berkelanjutan I Bank Mandiri Taspen Tahap I Tahun 2019 Seri A Fitch AA(idn) AA(idn) 60.248 41.817
Obligasi Berkelanjutan II Bank CIMB Niaga Tahap II Tahun 2017 Seri C Pefindo idAAA idAAA 51.425 51.708
Obligasi Berkelanjutan IV Sarana Multigriya Finansial Tahap VIII Tahun
Obligasi Berkelanjutan I Mayora Indah Tahap I Tahun 2017 Fitch AA(idn) AA(idn) 49.936 29.250
Obligasi Berkelanjutan I Mayora Indah Tahap III Tahun 2018 Pefindo idAA idAA 47.860 47.621
Obligasi Berkelanjutan V Sarana Multigriya Finansial Tahap I Tahun 2019
Obligasi Berkelanjutan V Astra Sedaya Finance Tahap III Tahun 2021
Seri B Pefindo idAAA - 44.542 -
Obligasi Berkelanjutan II JAPFA Tahap II Tahun 2017 Fitch A+(idn) A+(idn) 40.412 41.175
Obligasi Berkelanjutan IV Federal International Finance Tahap II Tahun
2020 Seri B Fitch AAA(idn) AAA(idn) 38.654 37.717
Obligasi Berkelanjutan III Chandra Asri Petrochemical Tahan II Tahun
2020 Pefindo idAA- idAA- 33.289 32.065
Obligasi Berkelanjutan II Bank Maybank Indonesia Tahap I Tahun 2017
Seri B Pefindo idAAA - 32.392 -
Obligasi Berkelanjutan V Federal International Finance Tahap I Tahun
2021 Seri B Fitch AAA(idn) - 31.020 -
Obligasi Berkelanjutan III Chandra Asri Petrochemical Tahan III Tahun
2021 Seri A Pefindo idAA- - 28.955 -
Obligasi Berkelanjutan V Astra Sedaya Finance Tahap II Tahun 2021 Seri
A Pefindo idAAA - 27.129 -
Obligasi Berkelanjutan I Mayora Indah Tahap I Tahun 2017 Pefindo idAA idAA 22.174 22.718
Obligasi Berkelanjutan I Bank Mandiri Taspen Tahap I Tahun 2019 Seri B Fitch AA(idn) AA(idn) 21.006 20.355
Obligasi Berkelanjutan II Sarana Multi Infrastruktur Tahap I Tahun 2019
Obligasi Berkelanjutan II Bank BRI Tahap II Tahun 2017 Seri C Pefindo idAAA idAAA 15.208 15.444
Obligasi Berkelanjutan III Bank UOB Indonesia Tahap I Tahun 2021 Fitch AAA(idn) - 15.165 -
Obligasi Berkelanjutan V Federal International Finance Tahap II Tahun
2021 Seri B Fitch AAA(idn) - 15.003 -
586

Nilai tercatat/Nilai
. wajar/
Peringkat/ Carrying value/Fair
Rating value
Pemeringkat/
Rated by 2021 2020 2021 2020
Nilai wajar melalui penghasilan komprehensif lain (lanjutan)/
Fair value through other comprehensive income (continued):
Rupiah/Rupiah
Obligasi Berkelanjutan I Bank Mandiri Taspen Tahap II Tahun 2021
Seri A Fitch AA(idn) - 12.145 -
Obligasi Berkelanjutan III Chandra Asri Petrochemical Tahan I Tahun
2020 Seri A Pefindo idAA- - 10.387 -
Obligasi Berkelanjutan I Indonesia Infrastructure Finance Tahap I Tahun
Obligasi Berkelanjutan II Bank BRI Tahap IV Tahun 2018 Seri A Pefindo idAAA idAAA 10.304 10.091
Obligasi Berkelanjutan IV Astra Sedaya Finance Tahap II Tahun 2019
Obligasi I Bank Mandiri Taspen Pos Tahun 2017 Seri B Fitch AA(idn) AA(idn) 6.117 6.191
Obligasi Berkelanjutan II Bank CIMB Niaga Tahap IV Tahun 2018 Seri C Pefindo idAAA idAAA 3.207 3.175
Obligasi Berkelanjutan I Protelindo Tahap I Tahun 2016 Seri C Fitch AAA(idn) AAA(idn) 2.145 2.117
Obligasi Berkelanjutan I Bank BRI Tahap II Tahun 2016 Seri C Pefindo - idAAA - 7.030
Obligasi Berkelanjutan II Bank BRI Tahap II Tahun 2016 Seri A Pefindo - idAAA - 4.338
Obligasi Berkelanjutan II Bank CIMB Niaga Tahap IV Tahun 2018 Seri B Pefindo - idAAA - 51.072
Obligasi Berkelanjutan III Bank OCBC NISP Tahap I Tahun 2018 Seri C Fitch - AAA(idn) - 8.098
Obligasi Berkelanjutan II Bank Panin Tahap I Tahun 2016 Pefindo - idAA - 15.248
Obligasi Berkelanjutan II Bank Panin Tahap IV Tahun 2018 Pefindo - idAA - 5.027
Obligasi Berkelanjutan II Bank Panin Tahap II Tahun 2016 Pefindo - idAA - 37.412
MTN IV Clipan Finance Indonesia Tahun 2018 Pefindo - idAA- - 150.347
MTN Kimia Farma Tahap II Tahun2018 Pefindo - idAA- - 37.973
MTN I TELKOM TAHUN 2018 SERI C Pefindo - idAAA - 42.033
Obligasi Berkelanjutan IV Astra Sedaya Finance Tahap I Tahun 2018
Seri B Fitch - AAA(idn) - 10.089
Obligasi II Bussan Auto Finance Tahun 2018 Seri B Pefindo - idAA - 80.656
Obligasi Berkelanjutan IV Sarana Multigriya Finansial Tahap III Tahun
2018 Seri B Pefindo - idAAA - 1.002
Obligasi Berkelanjutan III Sarana Multigriya Finansial Tahap VI Tahun
2016 Pefindo - idAAA - 4.096
Obligasi Berkelanjutan III Federal International Finance Tahap III Tahun
2018 Seri B Pefindo - idAAA - 19.119
Obligasi Berkelanjutan II Indosat Tahap III Tahun 2018 Seri B Pefindo - idAAA - 5.037
Obligasi Berkelanjutan II JAPFA Tahap I Tahun 2016 Seri B Fitch - A+(idn) - 9.196
Obligasi Berkelanjutan II Mandiri Tunas Finance Tahap II Tahun 2016
Seri B Pefindo - idAA+ - 6.096
Obligasi Berkelanjutan IV Pegadaian Tahap III Tahun 2020 Seri A Pefindo - idAAA - 70.038
Obligasi Berkelanjutan III Pegadaian Tahap II Tahun 2018 Seri B Pefindo - idAAA - 75.276
Obligasi Berkelanjutan I Protelindo Tahap I Tahun 2016 Seri B Fitch - AAA(idn) - 18.421
Obligasi Berkelanjutan I Sarana Multi Infrastruktur Tahap I Tahun 2016
Seri B Pefindo - idAAA - 5.110
Obligasi Berkelanjutan II Sumber Alfaria Trijaya Tahap II Tahun 2018 Fitch - AA-(idn) - 15.672
3.301.466 3.161.855
Mata Uang Asing/Foreign Currencies
Obligasi Berkelanjutan Bank BRI Tahun 2019 Moody's Baa2 Baa2 142.297 142.899
Obligasi Berkelanjutan Bank Mandiri Tahun 2019 Moody's Baa2 Baa2 29.696 29.915
171.993 172.814
Jumlah nilai wajar melalui penghasilan komprehensif lain/

Total fair value through other comprehensive income 3.473.459 3.334.669
587



Nilai tercatat/Nilai
wajar/
Peringkat/ Carrying value/Fair
Pemeringkat/ Rating value
Rated by 2021 2020 2021 2020
Nilai wajar melalui laba rugi/fair value through profit or loss

Rupiah/Rupiah
Obligasi Berkelanjutan III Bank BRI Tahap I tahun 2019 Seri B Pefindo idAAA idAAA 2.173 5.208
Obligasi Berkelanjutan III Bank BRI Tahap I tahun 2019 Seri C Pefindo idAAA - 2.080 -
Obligasi Berkelanjutan II Bank Mandiri Tahap I Tahun 2020 Seri A Pefindo idAAA - 746 -
Jumlah nilai wajar melalui laba rugi/Total fair value

through profit or loss 4.999 5.208
Jumlah efek-efek/Total marketable securities 5.533.732 4.701.111
Dikurangi/Less:
Kerugian kredit ekspektasian/Expected credit losses (19.689) (11.840)
Jumlah efek-efek-neto/Total marketable securities-net 5.514.043 4.689.271
e. Perubahan keuntungan/(kerugian) yang belum e. Movements of unrealized gains/(losses)

direalisasi
Perubahan keuntungan/(kerugian) yang belum Movements of unrealized gains/(losses) for marketable
direalisasi atas efek-efek dalam kelompok diukur pada securities measured at fair value through other
nilai wajar melalui penghasilan komprehensif lain comprehensive income are as follows:
adalah sebagai berikut:
2021 2020
Saldo awal - sebelum Beginning balance -
pajak penghasilan tangguhan 80.555 54.484 before deferred income tax
Penambahan keuntungan
yang belum direalisasi Additional unrealized gains
selama tahun berjalan - neto 6.369 29.895 during the year - net
Keuntungan yang direalisasi ke Realized gains to profit or loss
laba rugi atas penjualan efek-efek from sale of marketable
selama tahun berjalan - neto (459) (3.824) securities during the year -net
Jumlah sebelum pajak Total before deferred
penghasilan tangguhan 86.465 80.555 income tax
Pajak penghasilan tangguhan (19.022) (17.722) Deferred income tax
Saldo akhir - neto 67.443 62.833 Ending balance - net
f. Perubahan kerugian kredit ekspektasian f. Movements of expected credit losses
2021
Saldo awal 11.798 42 - 11.840 Beginning balance
Aset keuangan yang
baru diperoleh 40.391 370 - 40.761 New financial assets
pengukuran kembali 7.633 - - 7.633 remeasurement
sudah dilunasi (40.146) (412) - (40.558) assets
588

f. Perubahan kerugian kredit ekspektasian f. Movements of expected credit losses (continued)

(lanjutan)
2020
Effect of initial implementation
Dampak penerapan awal PSAK 71 to Retained
PSAK 71 pada saldo laba - - - 5.701 Earnings
PSAK 71 pada komponen PSAK 71 to Other equity
ekuitas lainnya - - - 1.532 components
Saldo awal PSAK 71 22.386 11.830 - 34.216 Beginning balance of PSAK 71
Aset keuangan yang
pengukuran kembali 4.192 (3) - 4.189 remeasurement
parameter (1.769) - - (1.769) Change in model or parameter
Transfer ke kerugian kredit Transferred to 12-month
ekspektasian expected credit losses
12 bulan (Tahap 1) 11.391 (11.391) - - (Stage 1)
sudah dilunasi (67.506) (431) - (67.937) assets
Selisih kurs 132 (5) - 127 Exchange rate difference
KKE HTCS yang dicatat
ke komponen ekuitas ECL of HTCS recorded in
lainnya (1.850) - - (1.850) other equity component
Saldo Akhir 11.798 42 - 11.840 Ending Balance
Manajemen berpendapat bahwa jumlah kerugian Management believes that the expected credit losses on
kredit ekspektasian atas efek-efek telah memadai. marketable securities is adequate.
g. Suku bunga/marjin efektif rata-rata tertimbang g. The weighted average effective interest/margin
per tahun untuk tahun yang berakhir pada rate per annum for the year ended 31 December
tanggal 31 Desember 2021 dan 2020 2021 dan 2020
2021 2020
Obligasi korporasi - Rupiah 7,39% 7,86% Corporate bonds - Rupiah
Obligasi korporasi - Corporate bonds - foreign
mata uang asing 3,67% 4,01% currency
Certificates of Bank Indonesia -
Sertifikat Bank Indonesia - Rupiah - 5,62% Rupiah
Sertifikat Bank Indonesia - Certificates of Bank Indonesia -
mata uang asing - 1,87% foreign currency
589


9. EFEK YANG DIBELI DENGAN JANJI DIJUAL 9. SECURITIES PURCHASED UNDER RESALE
KEMBALI AGREEMENTS
2021
Tingkat
Nilai suku Nilai
Jenis efek/ nominal/ bunga/ Tanggal dimulai/ Tanggal jatuh tercatat/
Type of Nominal Interest Commencement tempo/ Carrying
Pihak penjual/Counterparty securities amount rate date Maturity date value
29 Desember/ 05 Januari/
Bank Indonesia Jakarta VR42_09_25 823.985 3,50% December 2021 January 2022 781.170
05 Februari/ 04 Februari/
Bank Indonesia Jakarta FR75_05_38 700.000 3,64% February 2021 February 2022 718.416
3.402.279 3.308.308
2020
Tingkat
Nilai suku Nilai
Jenis efek/ nominal/ bunga/ Tanggal dimulai/ Tanggal jatuh tercatat/
Type of Nominal Interest Commencement tempo/ Carrying
Pihak penjual/ Counterparty securities amount rate date Maturity date value
Bank Indonesia Jakarta FR70_03_24 1.500.000 3,75% December 2020 January 2021 1.610.462
Bank Indonesia Jakarta VR62_12_25 1.500.000 3,75% December 2020 January 2021 1.426.261
Bank Indonesia Jakarta VR62_12_25 1.500.000 3,75% December 2020 January 2021 1.426.261
Bank Indonesia Jakarta FR70_03_24 945.363 3,75% December 2020 January 2021 1.014.980
Bank Indonesia Jakarta VR62_12_25 1.000.000 3,75% December 2020 January 2021 950.841
Bank Indonesia Jakarta FR63_05_23 554.637 3,75% December 2020 January 2021 545.914
07 Agustus/ 05 Februari/
Bank Indonesia Jakarta FR80_06_35 250.000 3,75% August 2020 February 2021 245.425
12.060.000 12.126.419
Klasifikasi kolektibilitas efek yang dibeli dengan janji Collectibility classification of securities purchased under
dijual kembali tersebut adalah lancar. resale agreements was current.
590

10. TAGIHAN DAN LIABILITAS DERIVATIF 10. DERIVATIVE RECEIVABLES AND LIABILITIES
2021
Nilai kontrak/nosional
(setara dengan Dolar
Amerika Serikat)/ Nilai wajar/Fair values
Contract/notional amount
(equivalent to Tagihan derivatif/ Liabilitas derivatif/
United States Dollar) Derivative receivables Derivative liabilities
Bank Bank Bank
Counterparty/ Counterparty/ Counterparty/
Counterparty Nasabah/ Counterparty Nasabah/ Counterparty Nasabah/
Instrumen Bank Customer Bank Customer Bank Customer Instruments
Diperdagangkan: Trading:
Kontrak tunai mata uang asing 31.599.117 825.088 63 22 593 - Foreign currency spot
Kontrak berjangka mata uang asing 161.357.698 145.816.305 3.186 8.256 16.442 7.857 Foreign currency forward
Swap mata uang asing 1.594.561.381 90.986.799 111.107 29.415 71.793 - Foreign currency swap
Option mata yang asing 1.620.392 1.651.239 - 1 35 21.981 Foreign currency option
Cross currency swap 1.250.000 73.261.962 86 30.601 - 4.090 Cross currency swap
Futures mata uang asing - 4.000.000 - - - 307 Foreign currency futures
114.442 68.295 88.863 34.235
Lindung nilai: Hedging:
Cross currency swap 222.916.666 - 4.560 - 154.114 - Cross currency swap
119.002 68.295 242.977 34.235
2020
Nilai kontrak/nosional
(setara dengan Dolar
Amerika Serikat)/ Nilai wajar/Fair values
Contract/notional amount
(equivalent to Tagihan derivatif/ Liabilitas derivatif/
United States Dollar) Derivative receivables Derivative liabilities
Bank Bank Bank
Counterparty/ Counterparty/ Counterparty/
Counterparty Nasabah/ Counterparty Nasabah/ Counterparty Nasabah/
Instrumen Bank Customer Bank Customer Bank Customer Instruments
Diperdagangkan: Trading:
Kontrak tunai mata uang asing 62.184.929 2.742.983 168 163 3.270 22 Foreign currency spot
Kontrak berjangka mata uang asing 65.456.655 69.362.144 12.471 6.559 7.908 6.337 Foreign currency forward
Swap mata uang asing 711.383.505 70.740.324 246.800 20.503 82.037 11 Foreign currency swap
Cross currency swap 17.500.000 107.230.187 652 73.317 8.221 652 Cross currency swap
260.091 100.542 101.436 7.022
Lindung nilai: Hedging:
Cross currency swap 534.583.333 - 1.849 - 565.782 - Cross currency swap
261.940 100.542 667.218 7.022
Untuk tahun yang berakhir pada tanggal For the year ended 31 December 2021, the losses from
31 Desember 2021, kerugian atas perubahan nilai wajar changes in fair value of derivative instruments which was
instrumen derivatif yang diakui dalam laba rugi sebesar recorded in the profit or loss amounted to Rp172,973
Rp172.973 (2020: keuntungan sebesar Rp167.041). (2020: gains of Rp167,041).
Jumlah nosional adalah suatu jumlah dalam unit mata uang A notional amount is a number of the currency units
yang disebutkan dalam perjanjian. Jumlah dalam daftar di specified in the contract. The amount in the above table
atas disajikan secara bruto (penjumlahan posisi beli dan jual is presented at gross basis (a sum of buy and sell position
secara absolut). Tagihan/liabilitas derivatif merupakan nilai in absolute amount). Derivative receivables/liabilities
penyelesaian transaksi derivatif pada tanggal pelaporan. represent the settlement value of derivative instruments
as of the reporting date.
Lindung nilai arus kas atas risiko tingkat suku bunga Cash flow hedge of interest rate and foreign currency
dan mata uang asing risks
ADMF melakukan kontrak cross currency swap dengan ADMF entered into cross currency swap contracts to
tujuan lindung nilai atas risiko fluktuasi arus kas yang hedge the risk of fluctuations in cash flow arising from
ditimbulkan oleh kurs mata uang dan tingkat suku bunga exchange rates and interest rates on borrowing.
atas pinjaman yang diterima.
591


10. TAGIHAN DAN LIABILITAS DERIVATIF (lanjutan) 10. DERIVATIVE RECEIVABLES AND LIABILITIES
(continued)
Lindung nilai arus kas atas risiko tingkat suku bunga Cash flow hedge of interest rate and foreign
dan mata uang asing (lanjutan) currency risks (continued)
Pada tanggal 31 Desember 2021 dan 2020, ADMF As of 31 December 2021 dan 2020, ADMF has several
mempunyai beberapa kontrak cross currency swap dengan outstanding cross currency swap contracts with third
pihak ketiga yang belum jatuh tempo dengan parties which are PT Bank Maybank Indonesia Tbk,
PT Bank Maybank Indonesia Tbk, PT Bank OCBC NISP PT Bank OCBC NISP Tbk, PT Bank ANZ Indonesia,
Tbk, PT Bank ANZ Indonesia, PT Bank CIMB Niaga Tbk, PT Bank CIMB Niaga Tbk, PT Bank UOB Indonesia,
PT Bank UOB Indonesia, PT Bank DBS Indonesia, dan PT Bank DBS Indonesia, and PT Bank BNP Paribas
PT Bank BNP Paribas Indonesia. Indonesia.
Perubahan kerugian yang belum direalisasi: Movements of unrealized losses:
2021 2020
Saldo awal (278.042) (204.572) Beginning balance
Keuntungan/(kerugian) penyesuaian Gains/(losses) on fair value
nilai wajar lindung nilai arus kas 199.534 (73.470) adjustments of cashflow hedge
Jumlah sebelum pajak Total before deferred
penghasilan tangguhan (78.508) (278.042) income tax
Pajak penghasilan tangguhan 17.273 61.170 Deferred income tax
Saldo akhir - neto (61.235) (216.872) Ending balance - net
Pada tanggal 31 Desember 2021 dan 2020, jumlah yang As of 31 December 2021 dan 2020, the total amount had
telah direklasifikasi dari ekuitas ke laporan laba rugi tahun been reclassified from equity to the current year profit or
berjalan adalah sebagai berikut: loss are as follow:
2021 2020
The amount had been reclassified from
Jumlah yang telah direklasifikasi dari equity to profit on foreign
ekuitas ke laba selisih kurs - bersih 129.080 20.183 exchange - net
Jumlah yang telah direklasifikasi dari The amount had been reclassified from
ekuitas ke beban bunga dan equity to interest expense and
keuangan (413.260) (525.230) financing charges
(284.180) (505.047)
Berdasarkan ketentuan Bank Indonesia yang berlaku, Based on prevailing Bank Indonesia regulation, all
seluruh tagihan derivatif digolongkan sebagai lancar. derivatives receivables were classified as current.
592

11. PINJAMAN YANG DIBERIKAN 11. LOANS
2021 2020
Rupiah Rupiah
Modal kerja 57.130.023 60.528.041 Working capital
Konsumsi 24.905.836 24.780.589 Consumer
Investasi 12.849.756 13.371.568 Investment
94.885.615 98.680.198
Modal kerja 9.529.553 8.462.948 Working capital
Investasi 1.677.256 2.248.849 Investment
11.206.809 10.711.797
Jumlah 106.092.424 109.391.995 Total
Dikurangi: Less:
Kerugian kredit ekspektasian (6.126.463) (5.454.977) Expected credit losses
Jumlah - neto 99.965.961 103.937.018 Total - net
Kualitas pinjaman yang diberikan berdasarkan Loans quality by staging approach and by type:
pendekatan tahapan dan berdasarkan jenis:
2021
Konvensional/Conventional
Tahap 1/ Tahap 2/ Tahap 3/ Syariah/ Jumlah/
Stage 1 Stage 2 Stage 3 Sharia Total
Modal kerja 55.068.469 4.775.856 3.969.761 2.845.490 66.659.576 Working capital
Konsumsi 20.030.641 916.505 610.709 3.347.981 24.905.836 Consumer
Investasi 11.632.520 710.075 544.019 1.640.398 14.527.012 Investment
86.731.630 6.402.436 5.124.489 7.833.869 106.092.424
Dikurangi: Less:
Kerugian kredit Expected credit
ekspektasian*) (1.313.282) (693.689) (3.858.326) (261.166) (6.126.463) Losses*)
Jumlah - neto 85.418.348 5.708.747 1.266.163 7.572.703 99.965.961 Total - net
2020
Modal kerja 57.374.367 5.131.051 2.696.570 3.789.001 68.990.989 Working capital
Konsumsi 20.935.033 1.288.097 683.232 1.874.227 24.780.589 Consumer
Investasi 12.430.336 1.099.736 773.058 1.317.287 15.620.417 Investment
90.739.736 7.518.884 4.152.860 6.980.515 109.391.995
Dikurangi: Less:
Kerugian kredit Expected credit
ekspektasian*) (1.926.565) (767.665) (2.521.809) (238.938) (5.454.977) Losses*)
*) KKE untuk Syariah menggunakan kerugian historis sesuai PSAK *) ECL for Sharia using incurred loss based on PSAK 55 and PPAP
55 dan PPAP BI. BI.
593



11. PINJAMAN YANG DIBERIKAN (lanjutan) 11. LOANS (continued)
b. Berdasarkan sektor ekonomi b. By economic sector
Kualitas pinjaman yang diberikan berdasarkan sektor Loans quality based on economic sector and
ekonomi dan kolektibilitas: collectability:
2021
Dalam Kerugian
Perhatian Kurang kredit
Khusus/ Lancar/ ekspektasian
Lancar/ Special Sub- Diragukan/ Macet/ /Expected
Current Mention standard Doubtful Loss credit losses Neto/Net
Rupiah Rupiah
Pertanian, perburuan, Agriculture, hunting,
dan kehutanan 1.960.673 138.254 2.984 6.904 10.338 (57.641) 2.061.512 and forestry
Perikanan 73.574 14.527 2.885 1.409 256 (13.172) 79.479 Fisheries
Pertambangan dan
penggalian 363.554 50.078 1.917 2.124 3.725 (22.572) 398.826 Mining and excavation
Industri pengolahan 17.368.487 535.683 40.238 128.508 523.638 (997.679) 17.598.875 Manufacturing
Listrik, gas, dan air 50.153 11.363 199 813 185 (3.040) 59.673 Electricity, gas, and water
Konstruksi 2.944.271 94.953 3.425 20.018 46.902 (101.128) 3.008.441 Construction
Perdagangan besar Wholesale
dan eceran 21.308.384 1.931.634 232.062 228.641 719.670 (2.242.336) 22.178.055 and retail
Penyediaan akomodasi Accommodation
dan penyediaan and food
makan minum 898.360 49.849 370 1.820 3.052 (49.928) 903.523 and beverages
Transportasi, Transportation,
pergudangan, warehousing, and
dan komunikasi 4.783.008 253.206 17.740 40.440 100.261 (268.015) 4.926.640 communications
Perantara keuangan 12.078.017 13.147 8.649 124 3.866 (45.418) 12.058.385 Financial intermediary
Real estate, usaha Real estate,
persewaan, dan leasing services, and
perusahaan jasa 2.308.883 184.702 9.437 11.862 26.746 (97.211) 2.444.419 servicing companies
Administrasi Government,
pemerintahan, administration defense,
pertahanan, dan and mandatory
jaminan sosial wajib 282 53 - - - (9) 326 social security
Jasa pendidikan 16.442 1.081 128 40 2.895 (3.137) 17.449 Educational services
Jasa kesehatan dan Health and
kegiatan sosial 156.785 1.006 - 77 - (489) 157.379 social services
Jasa kemasyarakatan, Services in social,
sosial budaya, art, culture,
hiburan, dan recreation, and other
perorangan lainnya 159.128 15.539 236 490 8.147 (11.783) 171.757 individual services
Jasa perorangan yang
melayani rumah Individual services
tangga 1.257 225 - 1 - (33) 1.450 to households
Rumah tangga 20.926.550 3.316.429 200.264 271.847 190.210 (1.808.742) 23.096.558 Households
Lain-lain 412 123 - - - (5) 530 Others
85.398.220 6.611.852 520.534 715.118 1.639.891 (5.722.338) 89.163.277
594

b. Berdasarkan sektor ekonomi (lanjutan) b. By economic sector (continued)
2021
Dalam Kerugian
Khusus/ Lancar/ ekspektasian
Lancar/ Special Sub- Diragukan/ Macet/ /Expected
dan kehutanan 1.002.663 - - - - (6.418) 996.245 and forestry
Pertambangan dan Mining and
penggalian 251.622 160.579 - - - (161.120) 251.081 excavation
Industri pengolahan 6.856.516 121.454 - - 26.054 (204.278) 6.799.746 Manufacturing
Listrik, gas dan air 10.758 - - - - (9) 10.749 Electricity, gas, and water
Konstruksi 512.947 - - - - (1.928) 511.019 Construction
dan eceran 932.169 - - - 4.125 (8.503) 927.791 and retail
pergudangan, warehousing,
dan komunikasi 59.390 - - 16.055 2.508 (19.726) 58.227 and communications
Perantara keuangan 1.114.213 - - - - (662) 1.113.551 Financial intermediary
perusahaan jasa 135.756 - - - - (1.481) 134.275 servicing companies
10.876.034 282.033 - 16.055 32.687 (404.125) 10.802.684
Jumlah - neto 96.274.254 6.893.885 520.534 731.173 1.672.578 (6.126.463) 99.965.961 Total - net
595


2020
Dalam Kerugian
Khusus/ Lancar/ ekspektasian/
Lancar/ Special Sub- Diragukan/ Macet/ Expected
Rupiah Rupiah
dan kehutanan 1.923.616 217.189 3.220 3.441 22.717 (72.916) 2.097.267 and forestry
Perikanan 79.648 22.543 337 132 266 (4.439) 98.487 Fisheries
Pertambangan dan
penggalian 434.065 46.024 2.450 451 1.861 (13.992) 470.859 Mining and excavation
Industri pengolahan 16.103.822 616.374 21.001 22.647 269.776 (710.274) 16.323.346 Manufacturing
Listrik, gas, dan air 86.507 55.169 9 - 201 (22.006) 119.880 Electricity, gas, and water
Konstruksi 3.176.656 128.988 2.372 439 190.601 (222.175) 3.276.881 Construction
dan eceran 25.804.366 1.524.898 55.142 159.278 1.392.563 (1.930.854) 27.005.393 and retail
makan minum 953.811 39.164 1.173 1.308 10.250 (51.853) 953.853 and beverages
dan komunikasi 2.348.599 408.598 22.919 6.393 107.456 (241.834) 2.652.131 communications
Perantara keuangan 14.440.731 15.285 13.983 - 3.539 (98.308) 14.375.230 Financial intermediary
perusahaan jasa 2.320.328 285.403 3.628 5.927 43.053 (112.345) 2.545.994 servicing companies
Administrasi Government administration,
pemerintahan, defense,
jaminan sosial wajib 736 29 50 - - (26) 789 social security
Jasa pendidikan 21.737 1.577 17 444 - (952) 22.823 Educational services
kegiatan sosial 176.132 1.187 29 255 42 (1.068) 176.577 social services
perorangan lainnya 218.249 10.477 4.160 845 6.263 (11.693) 228.301 individual services
tangga 1.524 472 - - - (77) 1.919 to households
Rumah tangga 19.959.825 4.086.153 153.149 262.912 317.562 (1.657.684) 23.121.917 Households
Lain-lain 43.281 12.656 - 90 28 (1.681) 54.374 Others
88.093.633 7.472.186 283.639 464.562 2.366.178 (5.154.177) 93.526.021
596

2020
Dalam Kerugian
Khusus/ Lancar/ ekspektasian/
Lancar/ Special Sub- Diragukan/ Macet/ Expected
dan kehutanan 1.105.177 - - - - (13.330) 1.091.847 and forestry
Pertambangan dan Mining and
penggalian 646.877 213.413 - - - (170.826) 689.464 excavation
Industri pengolahan 4.704.475 37.476 - - - (70.180) 4.671.771 Manufacturing
Listrik, gas dan air 11.340 - - - - (7) 11.333 Electricity, gas, and water
Konstruksi 845.713 - - - - (5.828) 839.885 Construction
dan eceran 1.617.302 - - - 7.029 (21.645) 1.602.686 and retail
pergudangan, warehousing,
dan komunikasi 196.615 11.363 - - 5.942 (12.554) 201.366 and communications
Perantara keuangan 1.159.994 - - - - (4.630) 1.155.364 Financial intermediary
perusahaan jasa 149.081 - - - - (1.800) 147.281 servicing companies
10.436.574 262.252 - - 12.971 (300.800) 10.410.997
Jumlah - neto 98.530.207 7.734.438 283.639 464.562 2.379.149 (5.454.977) 103.937.018 Total - net
597


Kualitas pinjaman yang diberikan berdasarkan Loans quality by staging approach and economic
pendekatan tahapan secara sektor ekonomi: sector:
2021

dan kehutanan 2.595.322 58.703 27.046 440.745 3.121.816 and forestry
Perikanan 46.373 1.304 23.354 21.620 92.651 Fisheries
Pertambangan dan
penggalian 565.995 60.737 168.162 38.705 833.599 Mining and excavation
Industri pengolahan 21.929.233 1.640.327 1.504.280 526.738 25.600.578 Manufacturing
Listrik, gas, dan air 55.480 528 1.314 16.149 73.471 Electricity, gas, and water
Konstruksi 1.886.790 287.078 76.005 1.372.643 3.622.516 Construction
Perdagangan besar
dan eceran 19.853.930 2.515.431 2.385.808 601.516 25.356.685 Wholesale and retail
makan minum 483.656 437.284 20.105 12.406 953.451 and beverages
dan komunikasi 4.674.763 278.334 235.127 84.384 5.272.608 communications
Perantara keuangan 12.068.627 18.206 75 1.131.108 13.218.016 Financial intermediary
perusahaan jasa 2.288.841 131.914 58.146 198.485 2.677.386 servicing companies
jaminan sosial wajib 153 - - 182 335 social security
Jasa pendidikan 15.653 55 3.063 1.815 20.586 Educational services
kegiatan sosial 134.208 269 77 23.314 157.868 social services
perorangan lainnya 100.878 55.744 11.217 15.701 183.540 individual services
tangga 1.088 17 1 377 1.483 to households
Rumah tangga 20.030.105 916.505 610.709 3.347.981 24.905.300 Households
Lainnya 535 - - - 535 Others
86.731.630 6.402.436 5.124.489 7.833.869 106.092.424
Dikurangi: Less:
Kerugian kredit
ekspektasian *) (1.313.282) (693.689) (3.858.326) (261.166) (6.126.463) Expected credit losses*)
*) KKE untuk Syariah menggunakan kerugian historis sesuai *) ECL for Sharia using incurred loss based on PSAK 55 and PPAP
PSAK 55 dan PPAP BI . BI.
598

Kualitas pinjaman yang diberikan berdasarkan Loans quality by staging approach and economic
pendekatan tahapan secara sektor ekonomi: sector:
2020

dan kehutanan 2.718.269 114.517 116.829 325.745 3.275.360 and forestry
Perikanan 83.971 7.188 1.007 10.760 102.926 Fisheries
Pertambangan dan
penggalian 1.018.234 43.397 218.810 64.700 1.345.141 Mining and excavation
Industri pengolahan 18.254.355 2.158.223 841.300 521.695 21.775.573 Manufacturing
Listrik, gas, dan air 100.126 2.396 45.073 5.631 153.226 Electricity, gas, and water
Konstruksi 2.301.199 367.654 171.286 1.504.630 4.344.769 Construction
Perdagangan besar
dan eceran 25.566.704 2.757.238 1.774.804 461.829 30.560.575 Wholesale and retail
makan minum 805.587 179.886 10.774 9.459 1.005.706 and beverages
dan komunikasi 2.405.219 401.298 230.184 71.184 3.107.885 communications
Perantara keuangan 13.707.465 184 241 1.925.642 15.633.532 Financial intermediary
perusahaan jasa 2.384.027 188.251 52.017 183.125 2.807.420 servicing companies
jaminan sosial wajib 535 29 50 201 815 social security
Jasa pendidikan 22.081 194 461 1.039 23.775 Educational services
kegiatan sosial 175.189 268 326 1.862 177.645 social services
perorangan lainnya 210.370 6.337 6.438 16.849 239.994 individual services
tangga 1.893 - - 103 1.996 to households
Rumah tangga 20.934.045 1.288.097 683.232 1.874.227 24.779.601 Households
Lainnya 50.467 3.727 28 1.834 56.056 Others
90.739.736 7.518.884 4.152.860 6.980.515 109.391.995
Dikurangi: Less:
Kerugian kredit
ekspektasian *) (1.926.565) (767.665) (2.521.809) (238.938) (5.454.977) Expected credit losses*)
55 dan PPAP BI . BI.
599


c. Berdasarkan wilayah geografis c. By geographic region
2021 2020
Jakarta, Bogor, Tangerang, Jakarta, Bogor, Tangerang,
Karawang, Bekasi, dan Karawang, Bekasi, and
Lampung 70.337.424 66.752.654 Lampung
Jawa Barat 7.272.316 8.610.275 West Java
Sumatera Utara 6.923.141 8.320.588 North Sumatera
Jawa Timur 6.152.255 7.516.219 East Java
Jawa Tengah dan Yogyakarta 5.834.065 6.061.615 Central Java and Yogyakarta
Sulawesi, Maluku, dan Papua 3.724.511 5.234.801 Sulawesi, Maluku, and Papua
Kalimantan 2.728.828 3.513.991 Kalimantan
Sumatera Selatan 1.645.233 1.759.122 South Sumatera
Bali, NTT, dan NTB 1.474.651 1.622.730 Bali, NTT, and NTB
Jumlah 106.092.424 109.391.995 Total
Dikurangi: Less:
d. Pinjaman yang direstrukturisasi d. Restructured loans
Pinjaman yang direstrukturisasi meliputi antara lain Restructured loans consist of loans with rescheduled
penjadwalan ulang pembayaran pokok pinjaman principal and interest payments, adjusted interest
dan bunga, penyesuaian tingkat suku bunga, dan rates, and reduced overdue interest.
pengurangan tunggakan bunga.
2021 2020
Pinjaman yang direstrukturisasi 16.492.240 23.904.570 Restructured loans
Dikurangi: Less:
12.014.044 21.044.300
e. Pinjaman sindikasi e. Syndicated loans
Pinjaman sindikasi merupakan pinjaman yang Syndicated loans represent loans provided to debtors
diberikan kepada debitur berdasarkan perjanjian under syndication agreements with other banks.
pembiayaan bersama (sindikasi) dengan bank-bank Total syndicated loans as of 31 December 2021
lain. Jumlah pinjaman sindikasi pada tanggal amounted to Rp1,556,717 (2020: Rp2,485,283). The
31 Desember 2021 adalah sebesar Rp1.556.717 percentage of participation of the Bank as a member
(2020: Rp2.485.283). Persentase keikutsertaan of syndications as of 31 December 2021 dan 2020
Bank dalam pinjaman sindikasi sebagai anggota ranges 2.00% - 25.00% and 1.21% - 25.00% of each
pada tanggal 31 Desember 2021 dan 2020 adalah syndicated loan facility.
sebesar 2,00% - 25,00% dan 1,21% - 25,00% dari
masing-masing fasilitas pinjaman sindikasi.
600

f. Perubahan kerugian kredit ekspektasian f. Movements of expected credit losses
Perubahan kerugian kredit ekspektasian adalah Movements of expected credit losses are as follows:
sebagai berikut:
2021
Saldo awal 1.926.565 767.665 2.521.809 238.938 5.454.977 Beginning balance
Aset keuangan yang
baru diperoleh 1.001.103 206.097 66.407 - 1.273.607 New financial assets
pengukuran kembali (857.703) 572.886 5.279.962 - 4.995.145 remeasurement
Perubahan model atau parameter 92.297 (6.310) 34.636 - 120.623 Change in model or parameter
12 bulan (Tahap 1) 1.316.402 (875.216) (441.186) - - (Stage 1)
Transfer ke kerugian kredit Transferred to lifetime
sepanjang umurnya (Tahap 2) (1.081.441) 1.554.729 (473.288) - - (Stage 2)
Transfer ke penurunan Transferred to credit impaired
kredit (Tahap 3) (280.983) (1.119.906) 1.400.889 - - (Stage 3)
Penerimaan kembali pinjaman
yang telah dihapusbukukan 9 3.039 1.193.602 - 1.196.650 Recoveries from loans write off
Penghapusbukuan selama
tahun berjalan (30.278) (55.212) (4.769.779) - (4.855.269) Write offs during the year
Aset keuangan yang telah Derecognition of financial
dilunasi (773.076) (354.345) (956.800) - (2.084.221) assets
Selisih kurs 387 262 2.074 - 2.723 Exchange rate difference
Syariah*) - - - 22.228 22.228 Sharia*)
Saldo Akhir 1.313.282 693.689 3.858.326 261.166 6.126.463 Ending Balance
601


f. Perubahan kerugian kredit ekspektasian f. Movements of expected credit losses (lanjutan)

(lanjutan)
2020
Saldo awal - - - - 3.105.836 Beginning balance
Dampak penerapan awal
PSAK 71 – pinjaman yang Effect of initial implementation
diberikan - - - - 1.472.451 PSAK 71 – Loan
Dampak penerapan awal
PSAK 71 – transaksi rekening Effect of initial implementation
administratif - - - - 103.209 PSAK 71 – off balance sheet
Saldo awal PSAK 71 1.307.903 726.284 2.521.591 125.718 4.681.496 Beginning balance of PSAK 71
Aset keuangan yang
pengukuran kembali 25.881 1.347.629 4.791.600 - 6.165.110 remeasurement
Perubahan model atau parameter 334.233 43.963 (24.423) - 353.773 Change in model or parameter
12 bulan (Tahap 1) 1.489.381 (807.605) (681.776) - - (Stage 1)
sepanjang umurnya (Tahap 2) (654.553) 980.453 (325.900) - - (Stage 2)
kredit (Tahap 3) (82.333) (1.361.395) 1.443.728 - - (Stage 3)
Penerimaan kembali pinjaman
yang telah dihapusbukukan - - 614.644 - 614.644 Recoveries from loans write off
dilunasi (1.573.371) (458.003) (1.730.157) - (3.761.531) assets
Selisih kurs (15.517) 339 7.319 - (7.859) Exchange rate difference
Syariah*) - - - 113.220 113.220 Sharia*)
KKE - Transaksi Rekening ECL - Off balance
Administratif (Catatan 29) (112.699) (4.616) - - (117.315) sheet (Note 29)
Saldo Akhir 1.926.565 767.665 2.521.809 238.938 5.454.977 Ending Balance
Manajemen berpendapat bahwa jumlah kerugian Management believes that the expected credit
kredit ekspektasian atas pinjaman yang diberikan losses on loans is adequate.
telah memadai.
602

g. Mutasi pinjaman yang diberikan g. Movements of loans
Mutasi pinjaman yang diberikan berdasarkan Movements of loans by staging are as follows:
tahapan adalah:
2021
Saldo awal 90.739.736 7.518.884 4.152.860 6.980.515 109.391.995 Beginning balance
Aset keuangan yang
baru diperoleh 126.412.247 3.845.742 15.648 - 130.273.637 New financial assets
eksposur dan Net change in exposure
pengukuran kembali (23.359.388) (1.013.205) (1.025.032) - (25.397.625) and remeasurement
12 bulan (Tahap 1) 8.220.668 (7.449.816) (770.852) - - (Stage 1)
ekspektasian sepanjang expected credit losses
umurnya (Tahap 2) (13.243.326) 14.146.282 (902.956) - - (Stage 2)
Transfer ke penurunan Transferred to credit
kredit (Tahap 3) (2.070.258) (6.343.843) 8.414.101 - - impaired (Stage 3)
dilunasi (100.024.021) (4.257.576) (1.185.249) - (105.466.846) assets
Penerimaan kembali
pinjaman yang telah Recoveries from loans
dihapusbukukan 9 3.039 1.193.602 - 1.196.650 write off
Selisih kurs 86.241 8.141 2.146 - 96.528 Exchange rate difference
Syariah - - - 853.354 853.354 Sharia
Saldo Akhir 86.731.630 6.402.436 5.124.489 7.833.869 106.092.424 Ending Balance
2020
Saldo awal 92.757.433 8.004.193 4.681.955 4.527.757 109.971.338 Beginning balance
Aset keuangan yang
baru diperoleh 106.244.287 5.100.471 63.157 - 111.407.915 New financial assets
Perubahan bersih pada Net change in exposure
eksposur dan and
pengukuran kembali (11.760.209) (601.675) 1.786.666 - (10.575.218) remeasurement
12 bulan (Tahap 1) 11.920.503 (10.519.383) (1.401.120) - - (Stage 1)
kredit (Tahap 3) (1.237.077) (5.723.759) 6.960.836 - - Impaired (Stage 3)
dilunasi (91.919.287) (4.267.509) (3.185.688) - (99.372.484) assets
Aset keuangan yang Reclassification of
direklasifikasi financial
(312.088) - - - (312.088) assets
Syariah - - - 2.452.758 2.452.758 Sharia
Saldo Akhir 90.739.736 7.518.884 4.152.860 6.980.515 109.391.995 Ending Balance
603


h. Pembiayaan bersama h. Joint financing
Bank mengadakan perjanjian pemberian fasilitas The Bank has entered into joint financing agreements
pembiayaan bersama dengan beberapa lembaga with several multifinance companies for financing
pembiayaan untuk membiayai kepemilikan retail purchases of vehicles and consumer durable
kendaraan bermotor dan barang-barang konsumtif. products. The outstanding balance of joint financing
Jumlah saldo fasilitas pembiayaan bersama dengan agreements with and without recourse as of
dan tanpa tanggung renteng pada tanggal 31 December 2021 was Rp22,875,975 (2020:
31 Desember 2021 adalah sebesar Rp22.875.975 Rp22,654,674).
(2020: Rp22.654.674).
i. Kredit kelolaan i. Channeling loans
Kredit kelolaan adalah kredit yang diterima oleh Bank Channeling loans are loans received by the Bank
dari BI untuk diteruskan membiayai proyek-proyek from BI which have been channeled to finance
pertanian di Indonesia. Bank tidak menanggung risiko agricultural projects in Indonesia. The Bank bears no
atas kredit kelolaan yang diteruskan ini sehingga kredit credit risk on these loans; therefore, these
ini tidak dicatat sebagai pinjaman dalam laporan channeling loans were not recorded as loans in the
keuangan konsolidasian. consolidated financial statements.
Pada tanggal 31 Desember 2021, saldo kredit kelolaan As of 31 December 2021, the balance of channeling
adalah Rp350.561 (2020: Rp350.561). loans amounted to Rp350,561 (2020: Rp350,561).
j. Informasi pokok lainnya sehubungan dengan j. Other significant information relating to loans
pinjaman yang diberikan
Pada tanggal 31 Desember 2021, rasio Non- As of 31 December 2021, the percentage of Non-
Performing Loan (NPL)-gross dan rasio NPL-net Performing Loan (NPL)-gross and NPL-net were
adalah masing-masing sebesar 2,84% dan 0,37% 2.84% and 0.37% (2020: 2.98% and 0.91%),
(2020: 2,98% dan 0,91%) yang dihitung berdasarkan respectively, which was calculated based on Circular
Surat Edaran OJK No.43/SEOJK.03/2016 tanggal Letter of OJK No.43/SEOJK.03/2016 dated
28 September 2016. 28 September 2016.
Pinjaman yang diberikan pada umumnya dijamin Loans are generally secured by time deposits
dengan deposito berjangka (Catatan 21c) atau harta (Note 21c) or by registered mortgages or by powers
tak bergerak yang diaktakan dengan akta pemberian or by other guarantees acceptable to the Bank.
hak tanggungan atau jaminan lain yang umumnya
diterima oleh Bank.
Jumlah pinjaman yang diberikan yang dijamin Total loans with cash collaterals as of 31 December
dengan agunan tunai pada tanggal 31 Desember 2021 was Rp1,759,020 (2020: Rp1,727,543).
2021 adalah sebesar Rp1.759.020 (2020:
Rp1.727.543).
Termasuk dalam pinjaman yang diberikan pada Included in loans as of 31 December 2021 is sharia
tanggal 31 Desember 2021 adalah pembiayaan financing at gross amount of Rp7,833,869
syariah, bruto sebesar Rp7.833.869 (2020: (2020: Rp6,980,515) (Note 56).
Rp6.980.515) (Catatan 56).
Suku bunga efektif rata-rata tertimbang per tahun The weighted average effective interest rate per
untuk tahun yang berakhir pada tanggal annum for the year ended 31 December 2021 was
31 Desember 2021 adalah 8,42% untuk Rupiah dan 8.42% for Rupiah and 3.26% for foreign currencies
3,26% untuk mata uang asing (2020: 9,59% dan (2020: 9.59% and 3.43%).
3,43%).
604

12. PIUTANG PEMBIAYAAN KONSUMEN 12. CONSUMER FINANCING RECEIVABLES
Piutang pembiayaan konsumen Entitas Anak adalah sebagai The Subsidiaries’ consumer financing receivables are as
berikut: follows:
2021 2020
Piutang pembiayaan konsumen - Consumer financing receivables -

pihak ketiga third parties
- pembiayaan bersama 8.947.401 8.982.262 joint financing -
- pembiayaan sendiri 23.761.117 27.876.300 self financing -
Pendapatan pembiayaan
konsumen yang belum Unrecognized consumer
diakui - pihak ketiga (11.385.753) (12.341.984) financing income - third parties
21.322.765 24.516.578
Dikurangi: Less:
Kerugian kredit ekspektasian Expected credit losses
- pihak ketiga (1.364.566) (1.911.216) third parties -
Pada tanggal 31 Desember 2021 dan 2020, biaya transaksi As of 31 December 2021 and 2020, the gross consumer
yang terkait langsung dengan perolehan nasabah baru financing receivables include transaction costs directly
disajikan sebagai bagian dari piutang pembiayaan attributed to the origination of consumer financing accounts
konsumen masing-masing sebesar Rp586.553 dan amounting to Rp586,553 and Rp958,386, respectively.
Rp958.386.
Suku bunga efektif rata-rata tertimbang per tahun yang The weighted average effective interest rates per annum for
berakhir pada tanggal 31 Desember 2021 dan 2020 adalah the year ended 31 December 2021 and 2020 were as
sebagai berikut: follows:
Produk 2021 2020 Products
Mobil 19,68% 18,53% Cars

Motor 35,68% 32,21% Motorcycles
Barang konsumtif 57,30% 49,01% Durable goods
Lainnya 36,69% 37,54% Others
Untuk memastikan kelancaran penyelesaian piutang To ensure settlement of consumer financing receivable,
pembiayaan konsumen yang diberikan, konsumen Entitas the customers of Subsidiaries give the Certificates of
Anak memberikan Bukti Pemilikan Kendaraan Bermotor Ownership (BPKB) of the motor vehicles financed.
(BPKB) atas kendaraan bermotor yang dibiayai. Tidak ada Consumer financing receivables for consumer durable
jaminan atas piutang pembiayaan konsumen untuk produk products are unsecured.
barang konsumsi.
Piutang pembiayaan konsumen pada tanggal Consumer financing receivables as of 31 December
31 Desember 2021 sebesar Rp2.092.032 2021 amounting to Rp2,092,032 (2020: Rp4,420,031)
(2020: Rp4.420.031) digunakan sebagai jaminan atas were used as collateral to borrowings (Note 26),
pinjaman yang diterima (Catatan 26), sebesar amounting to Rp1,732,625 (2020: Rp2,930,625) were
Rp1.732.625 (2020: Rp2.930.625) digunakan sebagai used as collateral to bonds payable (Note 24), and
jaminan utang obligasi (Catatan 24), dan sebesar amounting to Rp101,000 (2020: Rp139,000) were used
Rp101.000 (2020: Rp139.000) digunakan sebagai as collateral to mudharabah bonds (Note 25).
jaminan sukuk mudharabah (Catatan 25).
Dalam pembiayaan bersama antara Bank dan Entitas In joint financing arrangements between the Bank and
Anak, Entitas Anak berhak menentukan tingkat Subsidiaries, the Subsidiaries have the right to set
bunga/marjin yang lebih tinggi kepada konsumen higher interest rates/margin to the consumers than the
dibandingkan tingkat bunga yang ditetapkan dalam interest rates stated in the joint financing agreement with
perjanjian pembiayaan bersama dengan Bank. the Bank.
605


12. PIUTANG PEMBIAYAAN KONSUMEN (lanjutan) 12. CONSUMER FINANCING RECEIVABLES(continued)
Perubahan kerugian kredit ekspektasian Movements of expected credit losses
Perubahan kerugian kredit ekspektasian adalah sebagai Movements of expected credit losses are as follows:
berikut:
2021
Saldo awal 1.057.449 410.303 287.121 156.343 1.911.216 Beginning balance
Aset keuangan yang
baru diperoleh 358.735 2.235 1.606 - 362.576 New financial assets
pengukuran kembali (151.422) (107.036) 1.942.902 - 1.684.444 remeasurement
parameter 152.221 23.828 35.110 - 211.159 Change in model or parameter
12 bulan (Tahap 1) 516.388 (416.341) (100.047) - - (Stage 1)
umurnya (Tahap 2) (843.298) 927.787 (84.489) - - (Stage 2)
kredit (Tahap 3) (69.669) (534.101) 603.770 - - (Stage 3)
dilunasi (217.790) (111.928) (138.716) - (468.434) assets
Syariah*) - - - (10.667) (10.667) Sharia *)
Saldo Akhir 754.169 155.397 309.324 145.676 1.364.566 Ending Balance
2020
Saldo awal - - - - 1.564.136 Beginning balance
PSAK 71 - - - - 153.395 PSAK 71
Saldo awal PSAK 71 1.065.321 127.748 357.086 167.376 1.717.531 Beginning balance of PSAK 71
Aset keuangan yang
baru diperoleh 279.180 - - - 279.180 New financial assets
pengukuran kembali 1.195.402 853.788 1.600.993 - 3.650.183 remeasurement
parameter 225.843 20.555 (7.298) - 239.100 Change in model or parameter
12 bulan (Tahap 1) 444.607 (333.099) (111.508) - - (Stage 1)
umurnya (Tahap 2) (755.188) 795.012 (39.824) - - (Stage 2)
kredit (Tahap 3) (86.008) (551.935) 637.943 - - (Stage 3)
dilunasi (1.205.605) (466.221) (317.503) - (1.989.329) assets
Syariah*) - - - (11.033) (11.033) Sharia *)
Saldo Akhir 1.057.449 410.303 287.121 156.343 1.911.216 Ending Balance
*) KKE untuk Syariah menggunakan kerugian historis sesuai PSAK 55 dan *) ECL for Sharia using incurred loss based on PSAK 55 and PPAP BI.
PPAP BI .
Manajemen berpendapat bahwa jumlah kerugian kredit Management believes that the expected credit losses on
ekspektasian atas piutang pembiayaan konsumen telah consumer financing receivables is adequate.
memadai.
606

12. PIUTANG PEMBIAYAAN KONSUMEN (lanjutan) 12. CONSUMER FINANCING RECEIVABLES

(continued)
Mutasi piutang pembiayaan konsumen Movements of consumer financing receivables
Mutasi piutang pembiayaan konsumen berdasarkan Movements of consumer financing receivables by

tahapan adalah: staging are as follows:
2021
Saldo awal 19.136.877 2.217.643 555.601 2.606.457 24.516.578 Beginning balance
Aset keuangan yang
pengukuran kembali (11.659.114) (945.298) (918.706) - (13.523.118) and remeasurement
kredit (Tahap 3) (413.297) (2.920.631) 3.333.928 - - impaired (Stage 3)
Penghapusbukuan selama Write offs during
tahun berjalan (48.445) (39.350) (2.237.933) - (2.325.728) the year
Syariah - - 590.545 590.545 Sharia
Saldo Akhir 17.183.953 500.644 441.166 3.197.002 21.322.765 Ending Balance
2020
Saldo awal 26.889.566 649.037 638.163 3.011.774 31.188.540 Beginning balance
Aset keuangan yang
baru diperoleh 8.881.043 - - - 8.881.043 New financial assets
pengukuran kembali (10.537.724) (1.350.392) (1.285.156) - (13.173.272) and remeasurement
kredit (Tahap 3) (673.014) (2.652.831) 3.325.845 - - impaired (Stage 3)
Penghapusbukuan selama Write offs during
tahun berjalan (106.103) (35.545) (1.832.768) - (1.974.416) the year
Syariah - - - (405.317) (405.317) Sharia
Saldo Akhir 19.136.877 2.217.643 555.601 2.606.457 24.516.578 Ending Balance
Piutang pembiayaan konsumen yang telah direstrukturisasi The restructured consumer financing receivables as of
pada tanggal 31 Desember 2021 dan 2020 masing-masing 31 December 2021 and 2020 were Rp3,246,138 and
sebesar Rp3.246.138 dan Rp8.975.652. Rp8,975,652 respectively.
Pada tanggal 16 April 2021, ADMF telah menandatangani On 16 April 2021, ADMF has signed a Sale and Purchase
Perjanjian Jual Beli (CSA) dengan PT U Finance Indonesia Agreement (CSA) with PT U Finance Indonesia, in
sehubungan dengan pengambilalihan piutang pembiayaan U connection with the take-over of financing receivables from
Finance oleh Perseroan dengan harga beli yang disepakati U Finance by the Company with the agreed purchase price
sebesar Rp677.293. is Rp677,293.
607


13. PIUTANG SEWA PEMBIAYAAN 13. FINANCE LEASE RECEIVABLES
2021 2020
Piutang sewa pembiayaan - bruto 339.480 295.024 Finance lease receivables - gross
Nilai residu yang terjamin 146.432 118.324 Guaranteed residual value
Pendapatan sewa pembiayaan
yang belum diakui (47.160) (42.633) Unearned financing lease income
Setoran jaminan (146.432) (118.324) Security deposits
292.320 252.391
Dikurangi: Less:
280.613 246.644
Pada tanggal 31 Desember 2021, piutang sewa pembiayaan As of 31 December 2021, the gross finance lease
bruto termasuk biaya transaksi terkait langsung dengan receivables include unamortized transaction costs directly
pemberian pembiayaan sewa yang belum diamortisasi attributable to the origination of finance lease accounts
sebesar Rp253 (2020: Rp37). amounting to Rp253 (2020: Rp37).
Angsuran piutang sewa pembiayaan - bruto yang akan The installments of finance lease receivables - gross, which
diterima dari konsumen sesuai dengan tanggal jatuh will be collected from consumers in accordance with the due
temponya adalah sebagai berikut: dates are as follows:
2021 2020
- < 1 tahun 151.830 119.599 < 1 year -

- 1 - 2 tahun 103.342 101.411 1 - 2 years -
- > 2 tahun 84.308 74.014 > 2 years -
Rata-rata tertimbang tingkat suku bunga efektif per tahun The weighted average effective interest rates per annum for
untuk tahun yang berakhir pada tanggal 31 Desember 2021 the year ended 31 December 2021 and 2020 were as
dan 2020 adalah sebagai berikut: follows:
2021 2020
Mobil 14,21% 14,14% Cars

Motor 22,43% 18,97% Motorcycles
Lainnya 20,41% - Others
Pengelompokan piutang sewa pembiayaan - bruto menurut Classification of finance lease receivables - gross based on
jumlah hari tunggakan adalah sebagai berikut: days overdue is as follows:
2021 2020
- Tidak ada tunggakan 323.364 262.961 No past due -

- 1 - 90 hari 14.254 25.516 1 - 90 days -
- 91 - 120 hari 658 2.446 91 - 120 days -
- 121 - 180 hari 1.204 2.771 121 - 180 days -
- > 180 hari - 1.330 > 180 days -
608

13. PIUTANG SEWA PEMBIAYAAN (lanjutan) 13. FINANCE LEASE RECEIVABLES (continued)
Perubahan kerugian kredit ekspektasian adalah sebagai The movements of expected credit losses are as follows:
berikut:
2021
Saldo awal 3.063 778 1.906 5.747 Beginning balance
Aset keuangan yang
pengukuran kembali (8.755) 9.965 7.286 8.496 remeasurement
parameter 1.690 1.389 1.970 5.049 Change in model or parameter
ekspektasian 12 bulan (Tahap 1) 10.071 (3.242) (6.829) - expected credit losses (Stage 1)
Transfer ke kerugian kredit
ekspektasian sepanjang Transferred to lifetime
umurnya (Tahap 2) (3.868) 4.020 (152) - expected credit losses (Stage 2)
kredit (Tahap 3) (1.669) (1.018) 2.687 - (Stage 3)
dilunasi (944) (8.758) (899) (10.601) assets
Penghapusan piutang (44) (110) (5.424) (5.578) Receivables written-off
Saldo Akhir 8.138 3.024 545 11.707 Ending Balance
2020
PSAK 71 - - - (1.220) of PSAK 71
Saldo awal PSAK 71 6.732 194 1.929 8.855 Beginning balance of PSAK 71
Aset keuangan yang
pengukuran kembali (8.750) 7.865 13.905 13.020 remeasurement
parameter 362 (10) (510) (158) Change in model or parameter
ekspektasian 12 bulan (Tahap 1) 3.858 (2.806) (1.052) - expected credit losses (Stage 1)
Transfer ke kerugian kredit
ekspektasian sepanjang Transferred to lifetime
umurnya (Tahap 2) (2.385) 2.795 (410) - expected credit losses (Stage 2)
kredit (Tahap 3) (77) (6.437) 6.514 - (Stage 3)
dilunasi (885) (768) (10.088) (11.741) assets
Saldo Akhir 3.063 778 1.906 5.747 Ending Balance
Manajemen berpendapat bahwa jumlah kerugian kredit Management believes that the expected credit losses is
ekspektasian yang dibentuk cukup untuk menutup kerugian adequate to cover possible losses arising from uncollectible
yang mungkin timbul akibat tidak tertagihnya piutang sewa finance lease receivables.
pembiayaan.
609


13. PIUTANG SEWA PEMBIAYAAN (lanjutan) 13. FINANCE LEASE RECEIVABLES (continued)
Pada saat perjanjian sewa pembiayaan dimulai, lessee At the time of execution of the finance leases contracts, the
memberikan setoran jaminan. Setoran jaminan ini akan lessee pays the security deposits. The security deposits are
digunakan sebagai pembayaran pada akhir masa sewa used as the final installment at the end of the finance lease
pembiayaan, bila hak opsi dilaksanakan lessee. Apabila period, if the lessee exercises the option to purchase the
lessee tidak melaksanakan hak opsinya untuk membeli aset leased asset. If the lessee does not exercise the purchase
sewa pembiayaan tersebut maka setoran jaminan option, the security deposit will be returned to the lessee as
dikembalikan kepada lessee sepanjang memenuhi ketentuan long as it meets the conditions in the finance lease
dalam perjanjian sewa pembiayaan dengan hak opsi. agreement with option right.
Mutasi piutang sewa pembiayaan Movements of finance lease receivables
Mutasi piutang sewa pembiayaan berdasarkan tahapan Movements of finance lease receivables by staging are
adalah: as follows:
2021
Saldo awal 235.665 10.875 5.851 252.391 Beginning balance
Aset keuangan yang
pengukuran kembali (131.712) (34.941) (6.543) (173.196) remeasurement
12 bulan (Tahap 1) 42.508 (29.864) (12.644) - (Stage 1)
umurnya (Tahap 2) (90.997) 91.706 (709) - (Stage 2)
kredit (Tahap 3) (13.236) (7.951) 21.187 - (Stage 3)
Saldo Akhir 260.887 29.715 1.718 292.320 Ending Balance
2020
Saldo awal 295.846 1.954 2.792 300.592 Beginning balance
Aset keuangan yang
pengukuran kembali (146.000) (9.850) (41.465) (197.315) remeasurement
12 bulan (Tahap 1) 27.585 (23.238) (4.347) - (Stage 1)
umurnya (Tahap 2) (98.359) 100.715 (2.356) - (Stage 2)
kredit (Tahap 3) (958) (58.651) 59.609 - (Stage 3)
Saldo Akhir 235.665 10.875 5.851 252.391 Ending Balance
610

14. TAGIHAN AKSEPTASI 14. ACCEPTANCE RECEIVABLES
a. Berdasarkan pihak dan mata uang a. By party and currency
2021 2020
Rupiah Rupiah
- Bank lain 6.521 27.955 Other banks -
- Debitur 293.455 90.392 Debtors -
299.976 118.347

- Debitur 1.728.150 1.466.646 Debtors -
1.761.218 1.479.157
Jumlah 2.061.194 1.597.504 Total

Dikurangi: Less:
2.058.574 1.592.400
b. Berdasarkan jatuh tempo b. By maturity
2021 2020
Rupiah Rupiah
- Kurang dari 1 bulan 103.700 40.601 Less than 1 month -
- 1 - 3 bulan 172.719 48.829 1 - 3 months -
- > 3 - 6 bulan 23.557 28.917 > 3 - 6 months -
299.976 118.347

(Catatan 55) (Note 55)
- 1 - 3 bulan 888.042 249.367 1 - 3 months -
- > 3 - 6 bulan 220.330 758.805 > 3 - 6 months -
- > 6 - 12 bulan 39.215 8.532 > 6 - 12 months -
1.761.218 1.479.157
Jumlah 2.061.194 1.597.504 Total

Dikurangi: Less:
2.058.574 1.592.400
611


14. TAGIHAN AKSEPTASI (lanjutan) 14. ACCEPTANCE RECEIVABLES (continued)
b. Berdasarkan jatuh tempo (lanjutan) b. By maturity (continued)
Perubahan kerugian kredit ekspektasian adalah sebagai The movements of expected credit losses are as
berikut: follows:
2021
Saldo awal 4.776 328 - 5.104 Beginning balance
Aset keuangan yang
pengukuran kembali (12.823) (355) - (13.178) remeasurement
12 bulan (Tahap 1) 426 (426) - - (Stage 1)
umurnya (Tahap 2) (339) 339 - - (Stage 2)
Selisih kurs 3 6 9 Exchange rate difference
2020
Saldo awal - - - - Beginning balance
PSAK 71 - - - 2.270 PSAK 71
Saldo awal PSAK 71 1.775 495 - 2.270 Beginning balance of PSAK 71
Aset keuangan yang
pengukuran kembali (5.467) (351) - (5.818) remeasurement
parameter (194) 77 - (117) Change in model or parameter
12 bulan (Tahap 1) 126 (126) - - (Stage 1)
umurnya (Tahap 2) (193) 193 - - (Stage 2)
sudah dilunasi (7) - - (7) assets
Selisih kurs (153) (7) - (160) Exchange rate difference
Saldo Akhir 4.776 328 - 5.104 Ending Balance
Manajemen berpendapat bahwa jumlah kerugian kredit Management believes that the expected credit losses
ekspektasian tagihan akseptasi telah memadai. on acceptance receivables is adequate.
c. Berdasarkan kolektibilitas BI c. By BI collectability
2021 2020
Lancar 2.059.897 1.597.504 Current

Dalam perhatian khusus 1.297 - Special mention
2.061.194 1.597.504
Dikurangi: Less:
2.058.574 1.592.400
612

15. OBLIGASI PEMERINTAH 15. GOVERNMENT BONDS
a. Berdasarkan jenis a. By type
2021 2020
Nilai Nilai Nilai Nilai
nominal/ tercatat/ nominal/ tercatat/
Nominal Carrying Nominal Carrying
value value value value
Nilai wajar melalui Fair value through other
penghasilan komprehensif comprehensive income (fair
lain (nilai wajar) value)
- Suku bunga tetap 27.473.029 28.411.581 21.889.448 22.776.561 Fixed interest rate -
Nilai wajar melalui laba rugi Fair value through profit or loss
(nilai wajar) (fair value)
- Suku bunga tetap 1.899.729 1.926.156 2.712.675 2.758.074 Fixed interest rate -
Jumlah 29.372.758 30.337.737 24.602.123 25.534.635 Total
Suku bunga efektif rata-rata tertimbang per tahun atas The weighted average effective interest rate per
Obligasi Pemerintah dalam Rupiah dan mata uang annum for the year ended 31 December 2021 for
asing untuk tahun yang berakhir pada tanggal Government Bonds in Rupiah and foreign currencies
31 Desember 2021 adalah masing-masing 5,57% dan was 5.57% and 2.14%, respectively (2020: 6.28%
2,14% (2020: 6,28% dan 2,72%). and 2.72%).
Obligasi Pemerintah dengan nilai nominal setara Government Bonds with total nominal value
dengan Rp111.970.080 telah dijual selama tahun yang equivalent to Rp111,970,080 were sold during the
berakhir pada tanggal 31 Desember 2021 (2020: year ended 31 December 2021 (2020:
Rp124.500.039) pada harga yang berkisar antara Rp124,500,039) at prices ranging from 90.52% -
90,52% - 164,35% dari nilai nominal (2020: 83,75% - 164.35% of nominal value (2020: 83.75% -162.95%).
162,95%). Sementara itu, Obligasi Pemerintah dengan Meanwhile, Government Bonds with total nominal
nilai nominal setara dengan Rp133.060.794 telah dibeli value equivalent to Rp133,060,794 were purchased
selama tahun yang berakhir pada tanggal during the year ended 31 December 2021 (2020:
31 Desember 2021 (2020: Rp139.674.287) pada harga Rp139,674,287) at prices ranging from 90.50% -
yang berkisar antara 90,50% - 164,33% dari nilai 164.33% of nominal value (2020: 83.74% - 162.90%).
nominal (2020: 83,74% - 162,90%).
Selama tahun yang berakhir pada tanggal During the year ended 31 December 2021,
31 Desember 2021, kerugian neto yang belum unrealized net losses arising from changes in fair
direalisasi atas perubahan nilai wajar Obligasi value of Government Bonds classified as trading
Pemerintah dalam klasifikasi diperdagangkan diakui securities are recorded in profit or loss amounting to
pada laporan laba rugi sebesar Rp5.702 (2020: Rp5,702 (2020: net gains amounting to Rp4,723).
keuntungan neto sebesar Rp4.723).
Bank dan Entitas Anak mengakui keuntungan neto atas The Bank and Subsidiaries recognized net gains from
penjualan Obligasi Pemerintah sejumlah Rp280.603 the sale of Government Bonds amounting to
selama tahun yang berakhir pada tanggal Rp280,603 during the year ended 31 December 2021
31 Desember 2021 (2020: keuntungan neto sebesar (2020: net gains amounting to Rp450,965).
Rp450.965).
613


15. OBLIGASI PEMERINTAH (lanjutan) 15. GOVERNMENT BONDS (continued)
b. Berdasarkan mata uang b. By currency
2021 2020
Rupiah 26.148.938 21.477.738 Rupiah

Mata uang asing (Catatan 55) 4.188.799 4.056.897 Foreign currencies (Note 55)
30.337.737 25.534.635
c. Berdasarkan jatuh tempo c. By maturity
2021 2020
Rupiah Rupiah
- Kurang dari 1 tahun 5.655.003 5.518.245 Less than 1 year -
- 1 - 5 tahun 20.187.849 15.203.837 1 - 5 years -
- 5 - 10 tahun 189.789 523.654 5 - 10 years -
- Lebih dari 10 tahun 116.297 232.002 More than 10 years -
26.148.938 21.477.738
- Kurang dari 1 tahun 2.578.990 1.276.428 Less than 1 year -
- 1 - 5 tahun 1.601.278 2.771.131 1 - 5 years -
- 5 - 10 tahun 3.709 4.210 5 - 10 years -
- Lebih dari 10 tahun 4.822 5.128 More than 10 years -
4.188.799 4.056.897
Jumlah 30.337.737 25.534.635 Total

.
d. Perubahan keuntungan/(kerugian) yang belum d. Movements of unrealized gains/(losses)

direalisasi
Perubahan keuntungan/(kerugian) yang belum Movements of unrealized gains/(losses) for

direalisasi atas Obligasi Pemerintah dalam kelompok Government Bonds measured at fair value through
diukur pada nilai wajar melalui penghasilan other comprehensive income are as follows:
komprehensif lain adalah sebagai berikut:
2021 2020
Saldo awal - sebelum Beginning balance - before
pajak penghasilan tangguhan 612.338 155.892 deferred income tax
Penambahan keuntungan
yang belum direalisasi selama Additional unrealized
tahun berjalan - neto 2.811 715.416 gains during the year - net
Keuntungan yang direalisasi ke laba
rugi atas penjualan Obligasi Realized gains to profit or loss
Pemerintah selama from sale of Government Bonds
tahun berjalan - neto (185.405) (258.970) during the year - net
Jumlah sebelum pajak
penghasilan tangguhan 429.744 612.338 Total before deferred income tax
Pajak penghasilan tangguhan (94.544) (134.714) Deferred income tax
Saldo akhir - neto 335.200 477.624 Ending balance - net
614

16. INVESTASI DALAM SAHAM 16. INVESTMENTS IN SHARES
Investasi dalam saham pada tanggal 31 Desember 2021 The investments in shares as of 31 December 2021 and
dan 2020 mencakup: 2020 included:
2021 2020
Persentase Nilai Persentase Nilai
Nama perusahaan/ Kegiatan usaha/ kepemilikan/ tercatat/ kepemilikan/ tercatat/
Company name Business activity Percentage Carrying Percentage Carrying
of ownership value of ownership value
PT Bank Woori Saudara
Indonesia 1906 Tbk (d/h
PT Bank Woori
Indonesia) Bank/Banking 2,12% 78.198 2,12% 103.333
PT Bank Chinatrust
Indonesia Bank/Banking 1,00% 1.500 1,00% 1.500
Usaha Patungan,
Telekomunikasi/Joint
Lain-lain/Other Venture,Telecommunication 0,24% - 4,21% 2.380 0,24% - 4,21% 2.380
82.078 107.213
Berdasarkan ketentuan Bank Indonesia yang berlaku, Based on prevailing Bank Indonesia regulation,
investasi dalam saham pada tanggal 31 Desember 2021 investments in shares as of 31 December 2021 and 2020
dan 2020 digolongkan sebagai lancar. are classified as current.
Perubahan keuntungan/(kerugian) yang belum Movements of unrealized gains/(losses)

direalisasi
Perubahan keuntungan/(kerugian) yang belum direalisasi Movements of unrealized gains/(losses) for investments in
atas investasi dalam saham dalam kelompok diukur pada shares measured at fair value through other
nilai wajar melalui penghasilan komprehensif lain adalah comprehensive others are as follows:
sebagai berikut:
2021 2020
Saldo awal 95.133 103.513 Beginning balance

Kerugian yang belum
direalisasi selama tahun berjalan (25.135) (8.380) Unrealized losses during the year
Saldo akhir 69.998 95.133 Ending balance
17. ASET TAKBERWUJUD 17. INTANGIBLE ASSETS
2021
1 Januari/ Penambahan/ Pengurangan/ 31 Desember/
January Additions Deductions December
Harga perolehan Cost
Perangkat lunak 2.203.093 332.903 (25.172) 2.510.824 Software
Goodwill 1.906.684 - - 1.906.684 Goodwill
4.109.777 332.903 (25.172) 4.417.508
Akumulasi amortisasi Accumulated amortization
Perangkat lunak (1.690.956) (220.143) 25.172 (1.885.927) Software
Goodwill (832.151) - - (832.151) Goodwill
(2.523.107) (220.143) 25.172 (2.718.078)
Nilai buku neto 1.586.670 1.699.430 Net book value
615


17. ASET TAKBERWUJUD (lanjutan) 17. INTANGIBLE ASSETS (continued)
31 Desember/December 2020
Perangkat lunak 2.029.724 179.610 (6.241) 2.203.093 Software
Goodwill 1.906.684 - - 1.906.684 Goodwill
3.936.408 179.610 (6.241) 4.109.777
Akumulasi amortisasi Accumulated amortization
Perangkat lunak (1.495.961) (198.679) 3.684 (1.690.956) Software
Goodwill (832.151) - - (832.151) Goodwill
(2.328.112) (198.679) 3.684 (2.523.107)
Pada tanggal 31 Desember 2021, Bank dan Entitas Anak As of 31 December 2021, the Bank and Subsidiaries had
memiliki aset takberwujud dengan jumlah biaya perolehan fully amortized intangible assets but still being used with
sebesar Rp1.357.711 yang telah diamortisasi secara penuh cost amounting to Rp1,357,711 (2020: Rp1,260,419).
tetapi masih digunakan (2020: Rp1.260.419).
Tidak ada kerugian penurunan nilai goodwill yang diakui No impairment losses on goodwill were recognized for the
selama tahun yang berakhir pada tanggal year ended 31 December 2021.
31 Desember 2021.
18. ASET TETAP DAN ASET HAK GUNA 18. FIXED ASSETS AND RIGHT-OF-USE
2021 2020
Aset Tetap 1.452.631 1.602.625 Fixed assets
Aset Hak Guna 442.843 503.066 Right-of-use assets
1.895.474 2.105.691
a. Aset Tetap a. Fixed Assets
2021
1 31
Januari/ Penambahan/ Pengurangan/ Reklasifikasi/ Desember/
January Additions Deductions Reclassified December
Tanah 640.355 - (600) (25.425) 614.330 Land
Bangunan 1.447.037 14.928 (353) (13.342) 1.448.270 Buildings
Perlengkapan kantor 2.510.212 63.246 (190.573) - 2.382.885 Office equipment
Kendaraan bermotor 83.200 15.466 (25.394) - 73.272 Motor vehicles
4.680.804 93.640 (216.920) (38.767) 4.518.757
Akumulasi Accumulated
penyusutan depreciation
Bangunan (775.076) (77.385) 273 11.007 (841.181) Buildings
Perlengkapan kantor (2.259.802) (119.511) 189.508 - (2.189.805) Office equipment
Kendaraan bermotor (43.301) (14.315) 22.476 - (35.140) Motor vehicles
(3.078.179) (211.211) 212.257 11.007 (3.066.126)
616

18. ASET TETAP DAN ASET HAK GUNA (lanjutan) 18. FIXED ASSETS AND RIGHT-OF-USE (continued)
a. Aset Tetap (lanjutan) a. Fixed Assets (continued)
2020
Tanah 640.355 - - 640.355 Land
Bangunan 1.433.517 13.520 - 1.447.037 Buildings
Perlengkapan kantor 2.532.899 62.103 (84.790) 2.510.212 Office equipment
Kendaraan bermotor 164.339 10.449 (91.588) 83.200 Motor vehicles
4.771.110 86.072 (176.378) 4.680.804
Akumulasi Accumulated
penyusutan depreciation
Bangunan (694.811) (80.265) - (775.076) Buildings
Perlengkapan kantor (2.180.431) (162.284) 82.913 (2.259.802) Office equipment
Kendaraan bermotor (109.874) (21.099) 87.672 (43.301) Motor vehicles
(2.985.116) (263.648) 170.585 (3.078.179)
Manajemen berpendapat bahwa tidak terdapat indikasi Management believes that there is no indication of
terjadinya penurunan nilai permanen aset tetap. permanent impairment in the value of fixed assets.
Termasuk dalam pengurangan aset tetap merupakan Fixed assets disposal includes sales of assets with details
penjualan aset dengan rincian sebagai berikut: as follows:
2021 2020
Hasil penjualan 9.732 6.023 Proceeds from sale
Nilai buku (3.567) (3.712) Net book value
Keuntungan penjualan Gain on sale
(Catatan 41 dan 42) 6.165 2.311 (Notes 41 and 42)
Pada tanggal 31 Desember 2021, aset tetap kecuali tanah As of 31 December 2021, fixed assets except for land are
telah diasuransikan terhadap risiko kerugian kebakaran, insured against losses arising from fire, flood, and other
kebanjiran, dan risiko lainnya dengan nilai pertanggungan risks with a total insurance coverage amounting to
sejumlah Rp1.169.873 (2020: Rp1.349.586). Manajemen Rp1,169,873 (2020: Rp1,349,586). Management believes
berpendapat bahwa nilai pertanggungan tersebut sudah that the insurance coverage is adequate.
memadai.
Pada tanggal 31 Desember 2021 dan 2020, semua aset As of 31 December 2021 and 2020, all fixed assets are
tetap dimiliki secara langsung. directly owned.
Pada tanggal 31 Desember 2021, Bank dan Entitas Anak As of 31 December 2021, the Bank and Subsidiaries had
memiliki aset tetap dengan jumlah biaya perolehan sebesar fully depreciated fixed assets but still being used with cost
Rp2.242.810 yang telah disusutkan secara penuh tetapi amounting to Rp2,242,810 (2020: Rp2,152,296).
masih digunakan (2020: Rp2.152.296).
Estimasi nilai wajar aset tetap Bank dan Entitas Anak (tanah The estimated fair value of the Bank and Subsidiaries fixed
dan bangunan dinilai berdasarkan nilai jual objek pajak) assets (land and building based on tax object sale value)
adalah sebesar Rp3.370.920 pada tanggal 31 Desember amounting to Rp3,370,920 as of 31 December 2021 (2020:
2021 (2020: Rp3.511.423) (tingkat 3). to Rp3,511,423) (level 3).
617


18. ASET TETAP DAN ASET HAK GUNA (lanjutan) 18. FIXED ASSETS AND RIGHT-OF-USE (continued)
b. Aset Hak Guna b. Right-Of-Use Assets
2021 2020
Harga perolehan 784.221 698.255 Cost
Akumulasi amortisasi (341.378) (195.189) Accumulated amortization
Nilai buku neto 442.843 503.066 Net book value
19. BEBAN DIBAYAR DIMUKA DAN ASET LAIN-LAIN 19. PREPAYMENTS AND OTHER ASSETS
2021 2020
Piutang bunga 992.206 1.281.152 Interest receivables

Receivables from sales of
Piutang atas penjualan efek-efek 158.557 954.778 marketable securities
Agunan yang diambil alih 870.697 882.265 Foreclosed assets
Setoran jaminan dan beban Security deposits and
dibayar dimuka 353.046 515.481 prepaid expenses
Uang muka lain-lain 281.055 253.386 Other advances
Dana setoran kliring Deposits for clearing transactions
Bank Indonesia 38.130 64.800 with Bank Indonesia
Beban tangguhan - neto 46.455 57.133 Deferred expenses - net
Aset tetap yang tidak digunakan 69.105 41.444 Idle properties
Lain-lain 1.293.913 881.432 Others
4.103.164 4.931.871
Dikurangi: Less:
3.813.022 4.696.077
Saldo di atas terdiri dari beban dibayar dimuka dan aset lain- The above balance consists of prepayments and other
lain dalam Rupiah dan mata uang asing masing-masing assets in Rupiah and foreign currencies of Rp3,763,979
sebesar Rp3.763.979 dan Rp339.185 (2020: Rp4.858.287 and Rp339,185 (2020: Rp4,858,287 and Rp73,584) (Note
dan Rp73.584) (Catatan 55). 55), respectively.
Piutang bunga Interest receivables
Termasuk dalam piutang bunga adalah piutang bunga Included in interest receivables is interest receivable from
Obligasi Pemerintah sebesar Rp219.860 untuk Rupiah dan Government Bonds of Rp219,860 for Rupiah and
Rp37.653 untuk mata uang asing (2020: Rp262.561 untuk Rp37,653 for foreign currency (2020: Rp262,561 for
mata uang Rupiah dan Rp35.675 untuk mata uang asing). Rupiah and Rp35,675 for foreign currency).
Setoran jaminan dan beban dibayar dimuka Security deposits and prepaid expenses
Termasuk dalam akun ini adalah setoran jaminan sebesar Included in these accounts are pledged security deposits
Rp28.282 (2020: Rp14.602) dan beban sewa dan of Rp28,282 (2020: Rp14,602) and prepaid rent and
pemeliharaan dibayar dimuka sebesar Rp134.547 (2020: maintenance of Rp134,547 (2020: Rp161,758).
Rp161.758).
618

19. BEBAN DIBAYAR DIMUKA DAN ASET LAIN-LAIN 19. PREPAYMENTS AND OTHER ASSETS (continued)
(lanjutan)
Kerugian kredit ekspektasian aset lain-lain Expected credit losses of other assets
Perubahan kerugian kredit ekspektasian aset lain-lain: Movements of expected credit losses of other assets:
2021 2020
Saldo awal 235.794 149.369 Beginning balance
Dampak penerapan pertama Effect of initial implementation
PSAK 71 - 3.484 PSAK 71
Penambahan selama
tahun berjalan 54.345 82.571 Addition during the year
Selisih kurs 3 370 Foreign exchange differences
Saldo akhir 290.142 235.794 Ending balance
Manajemen berpendapat bahwa jumlah kerugian kredit Management believes that the expected credit losses on
ekspektasian atas aset lain-lain telah memadai. other assets is adequate.
20. INVESTASI PADA ENTITAS ASOSIASI 20. INVESTMENT IN ASSOCIATE
Investasi pada ZAI diklasifikasikan sebagai investasi Investment in ZAI is classified as investment in
pada entitas asosiasi yang mana kepemilikan Bank atas associate with the remaining ownership in ZAI of
ZAI menjadi sebesar 19,81% setelah adanya penjualan 19.81% after the sale of ZAI to Zurich and ZAI’s new
ZAI ke Zurich dan penerbitan saham baru ZAI yang telah shares issuance which approved by OJK Financial
memperoleh persetujuan dari OJK Industri Keuangan Industry Non Bank on 27 September 2019 and OJK
Non-Bank pada 27 September 2019 dan kemudian Capital Market Supervisory Board (“Bapepam”) on
persetujuan dari Badan Pengawas Pasar Modal 22 November 2019.
(“Bapepam”) pada 22 November 2019.
Pada tanggal 31 Desember 2021 dan 2020, entitas As of 31 December 2021 and 2020, the associate of the
asosiasi yang dimiliki oleh Bank adalah sebagai berikut: Bank was as follow:
2021 2020
Bidang Persentase
usaha/ kepemilikan/ Nilai tercatat/ Nilai tercatat/
Nama entitas/ Type of % of ownership Aset bersih/ Carrying Aset bersih/ Carrying
Name of entity business interest Net assets amount Net assets amount
PT Zurich Asuransi
Indonesia Tbk Asuransi/
(“ZAI”) Insurance 19,81% 4.331.428 949.009 4.207.801 924.518
Bank memiliki secara langsung saham Entitas Asosiasi The Bank has direct ownership of the Associate’s share,
yang terdiri dari saham biasa. Negara tempat pendirian which consists of ordinary shares. The country of
atau pendaftaraan merupakan lokasi bisnis yang utama. incorporation or registration is also their principal place
of business.
Meskipun Bank memiliki kurang dari 20% saham ZAI, Although the Bank holds less than 20% of the equity
Bank memiliki pengaruh signifikan dengan menjalankan shares of ZAI, the Bank exercises significant influence
hak kontraktualnya melalui penunjukkan direktur pada by virtue of its contractual right to appoint directors to the
dewan direksi entitas tersebut serta memiliki kekuatan board of directors of that entity and has the power to
untuk berpartisipasi dalam pengambilan keputusan participate in the financial and operating policy decisions
keuangan dan operasi ZAI. of ZAI.
619


20. INVESTASI PADA ENTITAS ASOSIASI (lanjutan) 20. INVESTMENT IN ASSOCIATE (continued)
Tabel di bawah ini menyajikan informasi keuangan dari The following table summarizes the financial information of
investasi Bank pada ZAI seperti yang termasuk dalam the Bank’s investment in ZAI as included in its own financial
laporan keuangan terpisahnya, yang disesuaikan dengan statements, adjusted for fair value adjustments at
penyesuaian nilai wajar pada saat akuisisi dan perbedaan acquisition and differences in accounting policies. The table
kebijakan akuntansi. Tabel di bawah juga merekonsiliasi also reconciles financial information to the carrying amount
informasi keuangan ke nilai tercatat kepentingan Bank of the Bank’s interest in ZAI:
pada ZAI:
2021 2020
Jumlah aset 8.631.164 8.414.329 Total assets

Jumlah liabilitas dan dana Tabarru (4.298.828) (4.206.528) Total liabilities and Tabarru fund
Kepentingan non-pengendali (908) - Non-controlling interest
Aset bersih (100%) 4.331.428 4.207.801 Net assets (100%)
Persentase kepemilikan (19,81%) Percentage of ownership (19.81%)

Bagian Bank atas aset bersih 858.056 833.565 The Bank’s share of net assets
Penyesuaian nilai wajar 429.004*)*) 429.004*)**) Fair value adjustments
Efek dilusi setoran modal saham ZAI (328.351) (328.351) Effect dilution share capital ZAI
Penyesuaian (9.700) (9.700) Adjustment
Nilai tercatat dari investasi pada Carrying amount of investment

entitas asosiasi 949.009 924.518 in associate
Pendapatan premi - bersih 1.877.780 1.964.135 Premium income - net

Beban underwriting (1.087.874) (1.212.593) Underwriting expenses
Pendapatan underwriting lainnya -
bersih 25.689 34.514 Other underwriting income - net
Penghasilan investasi 222.299 263.475 Investment income
Beban usaha (814.051) (718.318) Operating expenses
Pendapatan usaha lainnya - bersih 11.684 29.878 Other operating income - net
Beban pajak final dan
pajak penghasilan (41.518) (79.515) Final tax and income tax expense
Laba bersih 194.009 281.576 Net profit
Kepentingan non-pengendali (10) - Minority interest
Laba bersih entitas induk 193.999 281.576 Net profit parent entity
Penghasilan komprehensif lain 17.079 24.618 Other comprehensive income
Jumlah laba komprehensif 211.078 306.194 Total comprehensive income
Bagian Bank atas jumlah laba The Bank’s share of total
komprehensif 41.814 60.656 comprehensive income
*) *)
Berdasarkan Laporan Penilai Independen dari Desmar, Ferdinan dan Based on Independent Appraisal Report of Desmar, Ferdinan dan
Rekan (DFH & Rekan). Rekan (DFH & Partner).
Rekonsiliasi atas ringkasan informasi keuangan yang Reconciliation of the summarized financial information
disajikan terhadap nilai buku dari kepentingan entitas presented to the carrying amount of its interest in associate
asosiasi adalah sebagai berikut: is as follow:
2021 2020
Nilai tercatat 924.518 908.858 Carrying amount
Dividen (27.889) (44.996) Dividend
Perubahan ekuitas entitas asosiasi 10.566 **) - Changes of associate equity
Laba bersih yang diserap 38.431 55.780 Net income absorbed
Pendapatan komprehensif lain yang Other comprehensive income
diserap 3.383 4.876 absorbed
Nilai tercatat 949.009 924.518 Carrying amount
**) **)
Disajikan dalam komponen ekuitas lainnya. Presented in other equity components.
620

20. INVESTASI PADA ENTITAS ASOSIASI (lanjutan) 20. INVESTMENT IN ASSOCIATE (continued)
Berdasarkan Anggaran Dasar ZAI yang dituangkan dalam Based on ZAI’s Article of Association No.181 dated
Akta No.181 tanggal 27 November 2019, kepemilikan Bank 27 November 2019, the Bank's ownership of the ZAI shares
atas saham ZAI menjadi 19,81%, sehingga laporan to 19.81%, so that the financial statements of ZAI are no
keuangan ZAI tidak lagi dikonsolidasikan ke Bank. longer consolidated into the Bank. The ZAI ownership is
Kepemilikan ZAI dicatat oleh Bank sebagai investasi pada recorded by the Bank as an investment in associate entity.
entitas asosiasi. Sebagai bagian dari penjualan saham, Bank As part of the sale of share, the Bank will receive additional
akan menerima pertimbangan tambahan sebagai consideration provided that there is an increase in the value
peningkatan nilai saham yang dijual oleh bank ke Zurich yang of shares sold by the Bank to Zurich which calculated based
dihitung berdasarkan metrik kinerja Bank dan ADMF dalam on the performance metric of the Bank and ADMF in
memberikan kontribusi premi bruto ke ZAI. contributing gross written premium for ZAI.
Pada tanggal 27 November 2019, Bank dan ADMF telah On 27 November 2019, the Bank and ADMF received
menerima imbalan dari ZAI sebesar Rp1.494.000 dan akan fees from ZAI amounting to Rp1,494,000 and will be
diamortisasi selama periode kontrak. Pada saat yang sama, amortized over the contract period. Concurrently, ZAI
ZAI menjalin kemitraan strategis jangka panjang selama 20 has entered into long-term strategic partnership
tahun dengan Bank dan PT Adira Dinamika Multi Finance agreements for 20 years period with the Bank and
Tbk (“ADMF”). PT Adira Dinamika Multi Finance Tbk (“ADMF”).
21. SIMPANAN NASABAH 21. DEPOSITS FROM CUSTOMERS
2021 2020
Rupiah Rupiah
- Deposito berjangka 43.782.837 55.600.928 Time deposits -
101.220.459 110.076.198

19.848.858 13.657.006
121.069.317 123.733.204
Sesuai dengan Peraturan Pemerintah No.66 Tahun Based on Government Regulation No.66 year 2008
2008 tanggal 13 Oktober 2008 tentang “Besaran dated 13 October 2008 regarding “The Savings
Nilai Simpanan yang Dijamin Lembaga Penjamin Amount Guaranteed by the Deposit Insurance
Simpanan (LPS)” maka nilai simpanan setiap Agency (LPS)” the savings amount for each
nasabah pada satu bank yang dijamin oleh customer in a bank which is guaranteed by the
Pemerintah maksimum sebesar Rp2 miliar. Adapun Government up to Rp2 billion. In addition, based on
sesuai Peraturan LPS No.2 tahun 2010, simpanan LPS Regulation No.2 year 2010, customer deposit
nasabah dijamin oleh LPS jika simpanan tercatat di is guaranteed by LPS if deposit is recorded in the
pembukuan Bank; tingkat suku bunga simpanan Bank’s book; deposit interest is not exceeding LPS
tidak melebihi maksimum tingkat suku penjaminan rate; and the depositor does not do any activity that
LPS; dan deposan bukan sebagai pihak yang resulted in unsound of the Bank.
menyebabkan keadaan Bank menjadi tidak sehat.
621


21. SIMPANAN NASABAH (lanjutan) 21. DEPOSITS FROM CUSTOMERS (continued)
b. Suku bunga efektif rata-rata tertimbang per tahun b. The weighted average effective interest rates
yang berakhir pada tanggal 31 Desember 2021 per annum for the year ended
dan 2020 and 31 December 2021 dan 2020
2021 2020
Rupiah Rupiah
- Giro 1,96% 2,88% Current accounts -
- Tabungan 1,70% 2,45% Savings -
- Deposito berjangka 3,36% 5,30% Time deposits -
Mata uang asing Foreign Currency

- Deposito berjangka 0,40% 1,40% Time deposits -
c. Simpanan yang diblokir dan dijadikan jaminan c. Amounts blocked and pledged as loan
atas pinjaman yang diberikan collaterals
2021 2020
Simpanan nasabah 2.892.479 2.694.210 Deposits from customers
22. SIMPANAN DARI BANK LAIN 22. DEPOSITS FROM OTHER BANKS
2021 2020
Rupiah Rupiah
- Deposito dan deposits on call 308.608 345.912 Deposits and deposits on call -
- Tabungan 383.354 199.757 Savings -
2.269.416 2.472.645
- Giro 15.171 5.080 Current accounts -
2.284.587 2.477.725
622

22. SIMPANAN DARI BANK LAIN (lanjutan) 22. DEPOSITS FROM OTHER BANKS (continued)
b. Suku bunga efektif rata-rata tertimbang per tahun b. The weighted average effective interest rates
yang berakhir pada tanggal 31 Desember 2021 per annum for the year ended
dan 2020 31 December 2021 and 2020
2021 2020
Rupiah Rupiah
- Call money 2,83% 4,77% Call money -
- Deposito dan deposits on call 3,36% 5,30% Deposits and deposits on call -
Mata uang asing Foreign Currency

- Call money 0,07% 0,20% Call money -
- Deposito dan deposits on call 0,40% 1,40% Deposits and deposits on call -
23. UTANG AKSEPTASI 23. ACCEPTANCE PAYABLES
a. Berdasarkan pihak dan mata uang a. By party and currency
2021 2020
Rupiah Rupiah
299.976 118.347
- Bank lain 1.725.922 1.466.646 Other banks -
1.761.218 1.479.157
Jumlah 2.061.194 1.597.504 Total
b. Berdasarkan jatuh tempo b. By maturity
2021 2020
Rupiah Rupiah
- 1 - 3 bulan 172.719 48.829 1 - 3 months -
- 3 - 6 bulan 23.557 28.917 3 - 6 months -
299.976 118.347

- 1 - 3 bulan 888.042 249.367 1 - 3 months -
- 3 - 6 bulan 220.330 758.805 3 - 6 months -
- 6 - 12 bulan 39.215 8.532 6 - 12 months -
1.761.218 1.479.157
Jumlah 2.061.194 1.597.504 Total
623


24. UTANG OBLIGASI 24. BONDS PAYABLE
2021 2020
Bank 851.316 849.673 Bank

Entitas Anak 5.496.918 7.063.886 Subsidiary
6.348.234 7.913.559
Bank Bank
2021 2020
Rupiah Rupiah
Nilai nominal 852.000 852.000 Nominal value
Dikurangi: Less:
Beban emisi Obligasi yang Unamortized Bonds
belum diamortisasi (684) (2.327) issuance cost
Jumlah - neto 851.316 849.673 Total - net
Beban bunga dan amortisasi Interest expense and

yang dibebankan ke amortization costs charged
laporan laba rugi 74.499 121.535 to the profit or loss
Pada tahun 2019, Bank telah melakukan Penawaran In year 2019, the Bank conducted public offering of
Umum Obligasi Berkelanjutan I Bank Danamon dengan Bank Danamon Continuing Bonds I with target fund of
target dana yang akan dihimpun sebesar Rp5.000.000. Rp5,000,000.
Dalam rangka penawaran umum tersebut Bank Regarding the public offering, the Bank issued Bank
menerbitkan Obligasi Berkelanjutan I Bank Danamon Danamon Continuing Bonds I phase I Year 2019 Serie
Tahap I Tahun 2019 seri A dengan jumlah pokok A, amounted Rp1,148,000 with fixed interest rate of
sebesar Rp1.148.000 yang dikenakan tingkat bunga 7.55% which is payable every three months, and Serie
tetap per tahun sebesar 7,55% dibayarkan setiap tiga A have matured on 4 June 2020. Moreover, Bank
bulan dan jatuh tempo pada tanggal 4 Juni 2020. Selain Danamon Continuing Bonds I phase I Year 2019 Serie
itu, Obligasi Berkelanjutan I Bank Danamon Tahap I B, amounted to Rp852,000 with fixed interest rate of
Tahun 2019 seri B dengan jumlah pokok sebesar 8.55% which is payable every three months and will
Rp852.000 yang dikenakan tingkat bunga tetap per mature on 24 May 2022.
tahun sebesar 8,55% dibayarkan setiap tiga bulan dan
akan jatuh tempo pada tanggal 24 Mei 2022.
Tanggal pembayaran bunga obligasi pertama The first interest payment date is 24 August 2019 for
dilakukan pada tanggal 24 Agustus 2019 untuk Seri A Series A and B.
dan B.
Beban bunga atas Obligasi yang diterbitkan termasuk Interest expense on the Bonds issued including
amortisasi emisi Obligasi yang ditangguhkan untuk amortization of the bond issuance cost for the
tahun yang berakhir pada tanggal 31 Desember 2021 year ended 31 December 2021 and 2020 amounted to
dan 2020 masing-masing sebesar Rp74.499 dan Rp74,499 and Rp113,935, respectively.
Rp113.935.
Pada tanggal 31 Desember 2021 dan 2020, Obligasi As of 31 December 2021 and 2020, Bonds were rated
tersebut mendapat peringkat AAA(idn) dari PT Fitch AAA(idn) by PT Fitch Ratings Indonesia.
Ratings Indonesia.
Wali amanat dari penerbitan obligasi ini adalah Trustee for the bonds issued is PT Bank Rakyat
PT Bank Rakyat Indonesia (Persero) Tbk yang bukan Indonesia (Persero) Tbk which is not a related party
merupakan pihak berelasi Bank. of the Bank.
624

24. UTANG OBLIGASI (lanjutan) 24. BONDS PAYABLE (continued)
Entitas Anak Subsidiary
a. Utang Obligasi ADMF a. ADMF’s Bond Payable
2021 2020
Rupiah Rupiah
Nilai nominal 5.581.300 7.161.250 Nominal value
Dikurangi: Less:
Beban emisi obligasi yang
belum diamortisasi (8.032) (12.924) Unamortized bond issuance cost
Eliminasi untuk keperluan Elimination for consolidation
konsolidasian (76.350) (84.440) purpose
Beban amortisasi yang Amortization costs charged

dibebankan ke laporan laba rugi 6.438 10.931 to the profit or loss
Sesuai dengan perjanjian perwaliamanatan obligasi, According to the trustee bonds agreement, except
kecuali Obligasi Berkelanjutan V Tahap I, ADMF Continuing Bonds V Phase I, ADMF provides
memberikan jaminan fidusia berupa piutang collateral with fiduciary transfer of consumer financing
pembiayaan konsumen (Catatan 12) dan rasio jumlah receivables (Note 12) and debt to equity ratio does not
pinjaman terhadap ekuitas tidak melebihi ketentuan, exceed the provision, which maximum 10:1.
yaitu maksimal 10:1. Selain itu, selama pokok obligasi Moreover, during the time that the bonds principals
belum dilunasi, ADMF tidak diperkenankan, antara lain are still outstanding, ADMF is not allowed to, among
melakukan penggabungan usaha kecuali dilakukan others, merged unless performed on the same
pada bidang usaha yang sama serta menjual atau business and to sell or assign more than 40% of
mengalihkan lebih dari 40% aset ADMF yang bukan ADMF’s non-consumer financing receivables assets.
piutang pembiayaan konsumen.
Pada tanggal 31 Desember 2021 dan 2020, ADMF As of 31 December 2021 dan 2020, ADMF had paid
telah melakukan pembayaran bunga obligasi sesuai the bonds interest on schedule as stated in the trustee
dengan jatuh tempo yang telah ditetapkan dalam agreement and complied with all the requirements
perjanjian perwaliamanatan dan telah memenuhi mentioned in the trustee agreement. Total principal of
seluruh persyaratan yang disebutkan dalam perjanjian bonds have been paid in accordance with the
perwaliamanatan. Jumlah pokok utang obligasi telah respective bonds’ maturity date.
dibayarkan sesuai dengan tanggal jatuh tempo obligasi
yang bersangkutan.
Pada tanggal 31 Desember 2021 dan 2020, seluruh As of 31 December 2021 and 2020, all of ADMF’s
obligasi ADMF mendapat peringkat idAAA dari bonds are rated idAAA by PT Pemeringkat Efek
PT Pemeringkat Efek Indonesia (Pefindo). Indonesia (Pefindo).
Beban bunga atas utang obligasi untuk tahun yang The interest expenses of bonds payable for the
berakhir pada tanggal 31 Desember 2021 dan 2020 year ended 31 December 2021 and 2020 amounted
masing-masing sebesar Rp498.889 dan Rp752.547. to Rp498,889 and Rp752,547, respectively.
Rata-rata tertimbang tingkat suku bunga efektif per The weighted average effective interest rate per
tahun atas utang obligasi pada tanggal 31 Desember annum on bonds payable as of 31 December 2021
2021 dan 2020 masing-masing sebesar 7,68% dan and 2020 was 7.68% dan 8.53%.
8,53%.
625


Entitas Anak (lanjutan) Subsidiary (continued)
b. Penawaran umum efek utang ADMF b. Public offering of ADMF’s debt securities
Pada tanggal 31 Desember 2021, obligasi yang telah As of 31 December 2021, ADMF’s bonds issued are
diterbitkan oleh ADMF adalah sebagai berikut: as follow:
Tanggal Skedul
pernyataan pembayaran
efektif/ bunga/
Effective Interest
Efek utang/ notification Nomor surat/ Jumlah/ Wali amanat/ payment
Debt securities date Letter number Amount The trustee schedule
Obligasi Berkelanjutan III Adira Finance Tahap V
Tahun 2017/Adira Finance Continuing Bonds III
Phase V Year 2017 (Obligasi Berkelanjutan III 25 Juni/ PT Bank Negara Triwulan/
Tahap V/Continuing Bonds III Phase V) June 2015 No. S-279/D.04/2015 2.014.000 Indonesia (Persero) Tbk Quarterly
Obligasi Berkelanjutan III Adira Finance Tahap VI
Tahun 2017/Adira Finance Continuing Bonds III
Phase VI Year 2017 (Obligasi Berkelanjutan III 25 Juni/ PT Bank Negara Triwulan/
Tahap VI/Continuing Bonds III Phase VI) June 2015 No. S-279/D.04/2015 769.000 Indonesia (Persero) Tbk Quarterly
Obligasi Berkelanjutan IV Adira Finance Tahap I
Tahun 2017/Adira Finance Continuing Bonds
IV Phase I Year 2017 (Obligasi Berkelanjutan 4 Desember/ PT Bank Negara Triwulan/
IV Tahap I/Continuing Bonds IV Phase I) December 2017 No. S-458/D.04/2017 1.300.000 Indonesia (Persero) Tbk Quarterly
Obligasi Berkelanjutan IV Adira Finance Tahap II
IV Phase II Year 2018 (Obligasi Berkelanjutan 4 Desember/ PT Bank Negara Triwulan/
IV Tahap II/Continuing Bonds IV Phase II) December 2017 No. S-458/D.04/2017 1.630.000 Indonesia (Persero) Tbk Quarterly
Obligasi Berkelanjutan IV Adira Finance Tahap III
IV Phase III Year 2018 (Obligasi Berkelanjutan 4 Desember/ PT Bank Negara Triwulan/
IV Tahap III/Continuing Bonds IV Phase III) December 2017 No. S-458/D.04/2017 2.260.000 Indonesia (Persero) Tbk Quarterly
Obligasi Berkelanjutan IV Adira Finance Tahap IV
IV Phase IV Year 2018 (Obligasi Berkelanjutan 4 Desember/ PT Bank Negara Triwulan/
IV Tahap IV/Continuing Bonds IV Phase IV) December 2017 No. S-458/D.04/2017 618.000 Indonesia (Persero) Tbk Quarterly
Obligasi Berkelanjutan IV Adira Finance Tahap
V Tahun 2019/Adira Finance Continuing Bonds
IV Phase V Year 2019 (Obligasi Berkelanjutan 4 Desember/ PT Bank Negara Triwulan/
IV Tahap V/Continuing Bonds IV Phase V) December 2017 No. S-458/D.04/2017 2.000.000 Indonesia (Persero) Tbk Quarterly
Obligasi Berkelanjutan IV Adira Finance Tahap
VI Tahun 2019/Adira Finance Continuing
Bonds IV Phase VI Year 2019 (Obligasi
Berkelanjutan IV Tahap VI/Continuing Bonds IV 4 Desember/ PT Bank Negara Triwulan/
Phase VI) December 2017 No. S-458/D.04/2017 1.192.000 Indonesia (Persero) Tbk Quarterly
Obligasi Berkelanjutan V Adira Finance Tahap
I Tahun 2020/Adira Finance Continuing Bonds
V Phase I Year 2020 (Obligasi Berkelanjutan V 30 Juni/ PT Bank Negara Triwulan/
Tahap I/Continuing Bonds V Phase I) June 2020 No. S-182/D.04/2020 1.300.000 Indonesia (Persero) Tbk Quarterly
Obligasi Berkelanjutan V Adira Finance Tahap
II Tahun 2021/Adira Finance Continuing Bonds
V Phase II Year 2020 (Obligasi Berkelanjutan V 30 Juni/ PT Bank Negara Triwulan/
Tahap II/Continuing Bonds V Phase II) June 2020 No. S-182/D.04/2020 1.300.000 Indonesia (Persero) Tbk Quarterly
626

b. Penawaran umum efek utang ADMF (lanjutan) b. Public offering of ADMF’s debt securities
(continued)
Rincian tingkat bunga dan jatuh tempo masing-masing Details of interest rate and maturity date of each
seri efek utang yang diterbitkan: serial of debt securities issued:
Tingkat bunga
tetap/
Efek utang/ Tahun penerbitan/ Nilai nominal/ Fixed interest Jatuh tempo/ Cicilan pokok efek utang/
Debt securities Year of issuance Nominal value rate Due date Debt securities installment
Obligasi Berkelanjutan III Tahap V

/Continuing Bonds III Phase V
22 Maret/ Pembayaran penuh pada saat jatuh
Seri C/Serial C 2017 241.000 8,90% March 2022 tempo/Bullet payment on due date
Obligasi Berkelanjutan III Tahap VI

/Continuing Bonds III Phase VI
14 Juli/ Pembayaran penuh pada saat jatuh
Seri C/Serial C 2017 68.000 8,40% July 2022 tempo/Bullet payment on due date
Obligasi Berkelanjutan IV Tahap I

/Continuing Bonds IV Phase I
12 Desember/ Pembayaran penuh pada saat jatuh
Seri C/Serial C 2017 91.000 7,55% December 2022 tempo/Bullet payment on due date
Obligasi Berkelanjutan IV Tahap II

/Continuing Bonds IV Phase II
21 Maret/ Pembayaran penuh pada saat jatuh
Seri D/Serial D 2018 162.000 7,50% March 2023 tempo/Bullet payment on due date
Obligasi Berkelanjutan IV Tahap III

/Continuing Bonds IV Phase III
16 Agustus/ Pembayaran penuh pada saat jatuh
Seri D/Serial D 2018 268.500 9,00% August 2022 tempo/Bullet payment on due date
Seri E/Serial E 2018 460.750 9,25% August 2023 tempo/Bullet payment on due date
Obligasi Berkelanjutan IV Tahap IV

/Continuing Bonds IV Phase IV
23 Januari/ Pembayaran penuh pada saat jatuh
Seri B/Serial B 2019 58.000 9,00% January 2022 tempo/Bullet payment on due date
23 Januari/ Pembayaran penuh pada saat jatuh
Seri C/Serial C 2019 328.000 9,50% January 2024 tempo/Bullet payment on due date
Obligasi Berkelanjutan IV Tahap V

/Continuing Bonds IV Phase V
16 April/ Pembayaran penuh pada saat jatuh
Seri B/Serial B 2019 287.250 8,60% April 2022 tempo/Bullet payment on due date
16 April/ Pembayaran penuh pada saat jatuh
Seri C/Serial C 2019 607.750 9,15% April 2024 tempo/Bullet payment on due date
Obligasi Berkelanjutan IV Tahap VI

/Continuing Bonds IV Phase VI
4 Oktober/ Pembayaran penuh pada saat jatuh
Seri B/Serial B 2019 703.000 7,80% October 2022 tempo/Bullet payment on due date
4 Oktober/ Pembayaran penuh pada saat jatuh
Seri C/Serial C 2019 190.000 8,10% October 2024 tempo/Bullet payment on due date
627


b. Penawaran umum efek utang ADMF (lanjutan) b. Public offering of ADMF’s debt securities
(continued)
Rincian tingkat bunga dan jatuh tempo masing-masing Details of interest rate and maturity date of each
seri efek utang yang diterbitkan (lanjutan): serial of debt securities issued (continued):
Tingkat bunga
tetap/
Efek utang/ Tahun penerbitan/ Nilai nominal/ Fixed interest Jatuh tempo/ Cicilan pokok efek utang/
Debt securities Year of issuance Nominal value rate Due date Debt securities installment
Obligasi Berkelanjutan V Tahap I

/Continuing Bonds V Phase I
Seri B/Serial B 2020 816.050 7,90% July 2023 tempo/Bullet payment on due date
Obligasi Berkelanjutan V Tahap II

/Continuing Bonds V Phase II
Seri A/Serial A 2021 559.000 4,25% August 2022 tempo/Bullet payment on due date
Seri B/Serial B 2021 741.000 5,50% July 2024 tempo/Bullet payment on due date
\ 25. SUKUK MUDHARABAH 25. MUDHARABAH BONDS
a. Sukuk Mudharabah ADMF a. ADMF’s Mudharabah Bonds
2021 2020
Nilai nominal: Nominal value:
Sukuk Mudharabah Berkelanjutan II Continuing Mudharabah Bonds II
Tahap II - 14.000 Phase II
Sukuk Mudharabah Berkelanjutan II Continuing Mudharabah Bonds II
Tahap III 7.000 7.000 Phase III
Sukuk Mudharabah Berkelanjutan III Continuing Mudharabah Bonds III
Tahap I 55.000 55.000 Phase I
Tahap II 29.000 91.000 Phase II
Tahap III 87.000 87.000 Phase III
Tahap IV 24.000 24.000 Phase IV
Sukuk Mudharabah Berkelanjutan IV Continuing Mudharabah Bonds IV
Tahap I - 200.000 Phase I
Sukuk Mudharabah Berkelanjutan IV Continuing Mudharabah Bonds IV
Tahap II 200.000 - Phase II
Jumlah - neto 402.000 478.000 Total - net
Dikurangi: Less:
Bagian yang jatuh tempo dalam

waktu satu tahun (261.000) (276.000) Current portion
Bagian yang jatuh tempo lebih
dari satu tahun 141.000 202.000 Non-current portion
628

25. SUKUK MUDHARABAH (lanjutan) 25. MUDHARABAH BONDS (continued)
a. Sukuk Mudharabah ADMF (lanjutan) a. ADMF’s Mudharabah Bonds (continued)
Sesuai dengan perjanjian perwaliamanatan sukuk According to the trustee mudharabah bonds
mudharabah, kecuali Sukuk Mudharabah Berkelanjutan agreement, except Continuing Mudharabah Bonds IV
IV Tahap I, ADMF memberikan jaminan fidusia berupa Phase I, ADMF provides collateral with fiduciary
piutang pembiayaan Murabahah (Catatan 12) dan rasio transfer of Murabahah financing receivables (Note 12)
jumlah pinjaman terhadap ekuitas tidak melebihi and debt to equity ratio does not exceed the covenant,
ketentuan, yaitu maksimal 10:1. Selain itu, selama which is maximum of 10:1. Moreover, during the time
pokok sukuk mudharabah belum dilunasi, ADMF tidak that the mudharabah bonds principals are still
diperkenankan, antara lain melakukan penggabungan outstanding, ADMF is not allowed to, among others,
usaha kecuali dilakukan pada bidang usaha yang sama merged unless performed on the same business and
serta menjual atau mengalihkan lebih dari 40% aset to sell or assign more than 40% of ADMF’s non-
ADMF yang bukan piutang pembiayaan konsumen. consumer financing receivables assets.
Pendapatan bagi hasil sukuk mudharabah dihitung Sharing revenue of mudharabah bonds is calculated
berdasarkan perkalian antara nisbah bagi hasil dengan by multiplication of sharing revenue ratio and margin
margin yang diperoleh ADMF dari hasil pembiayaan that ADMF earned from mudharabah financing.
mudharabah.
ADMF telah melakukan pembayaran bagi hasil sesuai ADMF had paid the revenue sharing on schedule as
dengan jatuh tempo yang telah ditetapkan dalam stated in the trustee agreement and complied with all
perjanjian perwaliamanatan dan telah memenuhi the requirements mentioned in the trustee agreement.
seluruh persyaratan yang disebutkan dalam perjanjian Total principal of mudharabah bonds has been paid in
perwaliamanatan. Jumlah pokok sukuk mudharabah accordance with the respective mudharabah bonds’
telah dibayarkan sesuai dengan tanggal jatuh tempo maturity date.
sukuk mudharabah yang bersangkutan.
Pada tanggal 31 Desember 2021 dan 2020, seluruh As of 31 December 2021 and 2020, all of ADMF’s
sukuk mudharabah ADMF mendapat peringkat mudharabah bonds are rated idAAA(sy) by
idAAA(sy) dari PT Pemeringkat Efek Indonesia PT Pemeringkat Efek Indonesia (Pefindo).
(Pefindo).
Bagi hasil atas sukuk mudharabah untuk tahun yang The revenue sharing of mudharabah bonds for the
berakhir pada tanggal 31 Desember 2021 dan 2020 year ended 31 December 2021 and 2020 amounted
masing-masing sebesar Rp30.437 dan Rp38.214. to Rp30,437 and Rp38,214, respectively.
b. Penawaran umum sukuk mudharabah ADMF b. Public offering of ADMF’s mudharabah bonds
Pada tanggal 31 Desember 2021, sukuk mudharabah As of 31 December 2021, ADMF’s mudharabah bonds
yang telah diterbitkan oleh ADMF adalah sebagai issued are as follow:
berikut:
Tanggal
pernyataan Skedul
efektif/ pembayaran
Effective bagi hasil/
Sukuk mudharabah/ notification Nomor surat/ Jumlah/ Wali amanat/ Revenue sharing
Mudharabah bonds date Letter number Amount The trustee payment schedule
Sukuk Mudharabah Berkelanjutan II Adira Finance
Tahap III Tahun 2017/Adira Finance Continuing
Mudharabah Bonds II Phase III Year 2017
(Sukuk Mudharabah Berkelanjutan II Tahap 25 Juni/ PT Bank Negara Triwulan/
III/Continuing Mudharabah Bonds II Phase III) June 2015 No. S-279/D.04/2015 386.000 Indonesia (Persero) Tbk Quarterly
629


Pada tanggal 31 Desember 2021, sukuk mudharabah As of 31 December 2021, ADMF’s mudharabah bonds
yang telah diterbitkan oleh ADMF adalah sebagai issued are as follow (continued):
berikut (lanjutan):
Tanggal
pernyataan Skedul
efektif/ pembayaran
Effective bagi hasil/
Sukuk mudharabah/ notification Nomor surat/ Jumlah/ Wali amanat/ Revenue sharing
Mudharabah bonds date Letter number Amount The trustee payment schedule
Sukuk Mudharabah Berkelanjutan III Adira

Finance Tahap I Tahun 2017/Adira Finance
Continuing Mudharabah Bonds III Phase I Year
2017 (Sukuk Mudharabah Berkelanjutan III 4 Desember/
Tahap I/Continuing Mudharabah Bonds III December PT Bank Negara Triwulan/
Phase I) 2017 No. S-458/D.04/2017 200.000 Indonesia (Persero) Tbk Quarterly
Finance Tahap II Tahun 2018/Adira Finance
Continuing Mudharabah Bonds III Phase II
Year 2018 (Sukuk Mudharabah Berkelanjutan 4 Desember/
III Tahap II/Continuing Mudharabah Bonds III December PT Bank Negara Triwulan/
Phase II) 2017 No. S-458/D.04/2017 490.000 Indonesia (Persero) Tbk Quarterly
Finance Tahap III Tahun 2018/Adira Finance
Continuing Mudharabah Bonds III Phase III
III Tahap III/Continuing Mudharabah Bonds III December PT Bank Negara Triwulan/
Phase III) 2017 No. S-458/D.04/2017 214.000 Indonesia (Persero) Tbk Quarterly
Finance Tahap IV Tahun 2019/Adira Finance
Continuing Mudharabah Bonds III Phase IV
III Tahap IV/Continuing Mudharabah Bonds III December PT Bank Negara Triwulan/
Phase IV) 2017 No. S-458/D.04/2017 96.000 Indonesia (Persero) Tbk Quarterly
Sukuk Mudharabah Berkelanjutan IV Adira
Finance Tahap II Tahun 2021/Adira Finance
Continuing Mudharabah Bonds IV Phase II
Year 2021 (Sukuk Mudharabah Berkelanjutan
IV Tahap II/Continuing Mudharabah Bonds IV 30 Juni/ PT Bank Negara Triwulan/
Phase II) June 2020 No. S-182/D.04/2020 200.000 Indonesia (Persero) Tbk Quarterly
Rincian nisbah bagi hasil dan jatuh tempo masing- Details of revenue sharing ratio and due date of each
masing seri sukuk mudharabah yang diterbitkan serial of mudharabah bonds issued are as follows:
Tahun
penerbitan/ Nisbah bagi hasil/
Sukuk mudharabah/ Year of Nilai nominal/ Revenue sharing Jatuh tempo/ Cicilan pokok sukuk mudharabah/
Mudharabah bonds issuance Nominal value ratio Due date Mudharabah bonds installment
Sukuk Mudharabah
Berkelanjutan II Tahap
III/Continuing
Mudharabah Bonds II
Phase III
74,17% (setara
dengan 8,90%
per tahun/
equivalent to 22 Maret/ Pembayaran penuh pada saat jatuh
Seri C/Serial C 2017 7.000 8.90% per year) March 2022 tempo/Bullet payment on due date
630

masing seri sukuk mudharabah yang diterbitkan serial of mudharabah bonds issued are as follows
adalah sebagai berikut (lanjutan): (continued):
Tahun
Sukuk Mudharabah
Berkelanjutan III Tahap
I/Continuing Mudharabah
Bonds III Phase I
62,92% (setara
dengan 7,55%
per tahun/ 12 Desember/
equivalent to December Pembayaran penuh pada saat jatuh
Seri C/Serial C 2017 55.000 7.55% per year) 2022 tempo/Bullet payment on due date
Sukuk Mudharabah
II/Continuing
Mudharabah Bonds III
Phase II
62,50% (setara
dengan 7,50%
per tahun/
equivalent to 21 Maret/ Pembayaran penuh pada saat jatuh
Seri C/Serial C 2018 29.000 7.50% per year) March 2023 tempo/Bullet payment on due date
Sukuk Mudharabah
III/Continuing Mudharabah
Bonds III Phase III
75,00% (setara
dengan 9,00%
per tahun/
equivalent to 23 Januari/ Pembayaran penuh pada saat jatuh
Seri B/Serial B 2019 55.000 9.00% per year) January 2022 tempo/Bullet payment on due date
79,17% (setara
dengan 9,50%
per tahun/
equivalent to 23 Januari/ Pembayaran penuh pada saat jatuh
Seri C/Serial C 2019 32.000 9.50% per year) January 2024 tempo/Bullet payment on due date
631


masing seri sukuk mudharabah yang diterbitkan serial of mudharabah bonds issued are as follows
adalah sebagai berikut (lanjutan): (continued):
Tahun
Sukuk Mudharabah
IV/Continuing Mudharabah
Bonds III Phase IV
71,67% (setara
dengan 8,60%
per tahun/
equivalent to 16 April/ Pembayaran penuh pada saat jatuh
Seri B/Serial B 2019 10.000 8.60% per year) April 2022 tempo/Bullet payment on due date
76,25% (setara
dengan 9,15%
per tahun/
equivalent to 16 April/ Pembayaran penuh pada saat jatuh
Seri C/Serial C 2019 14.000 9.15% per year) April 2024 tempo/Bullet payment on due date
Sukuk Mudharabah
Berkelanjutan IV Tahap
II/Continuing Mudharabah
Bonds IV Phase II
35,42% (setara
dengan 4,25%
per tahun/
equivalent to 3 Agustus/ Pembayaran penuh pada saat jatuh
Seri A/Serial A 2021 134.000 4.25% per year) August 2022 tempo/Bullet payment on due date
45,83% (setara
dengan 5,50%
per tahun/
equivalent to 23 Juli/ Pembayaran penuh pada saat jatuh
Seri B/Serial B 2021 66.000 5.50% per year) July 2024 tempo/Bullet payment on due date
ADMF menerbitkan sukuk mudharabah dengan tujuan ADMF issued mudharabah bonds for the purpose of
untuk membiayai kegiatan utama ADMF yaitu funding ADMF’s main activity which is consumer
pembiayaan konsumen. financing.
ADMF dapat melakukan pembelian kembali (buy back) ADMF can buy back part or all the bonds issued under
untuk sebagian atau seluruh obligasi yang diterbitkan a condition that such action can only be conducted after
dengan ketentuan bahwa hal tersebut hanya dapat the first anniversary since the issuance date.
dilaksanakan setelah ulang tahun pertama sejak tanggal
emisi.
632

26. PINJAMAN YANG DITERIMA 26. BORROWINGS
Berdasarkan jenis dan mata uang By type and currency
2021 2020
Rupiah Rupiah
- MUFG Bank, Ltd. 666.667 - MUFG Bank, Ltd. -
- PT Bank Mandiri (Persero) Tbk 291.488 329.167 PT Bank Mandiri (Persero) Tbk -
- PT Bank Maybank Indonesia Tbk 52.772 236.005 PT Bank Maybank Indonesia Tbk -
- PT Bank UOB Indonesia 50.000 - PT Bank UOB Indonesia -
- PT Bank CTBC Indonesia 37.500 - PT Bank CTBC Indonesia -
- The Hongkong and Shanghai The Hongkong and Shanghai -
Banking Corporation, Ltd. - 300.000 Banking Corporation, Ltd.
- Citibank, N.A., Indonesia - 300.000 Citibank, N.A., Indonesia -
- PT Bank Pan Indonesia Tbk - 184.722 PT Bank Pan Indonesia Tbk -
- PT Bank DKI - 49.985 PT Bank DKI -
- PT Bank Central Asia Tbk - 41.667 PT Bank Central Asia Tbk -
1.098.427 1.441.546
- Bank BNP Paribas (Singapura) 3.177.119 7.510.896 Bank BNP Paribas (Singapore) -
4.275.546 8.952.442
Suku bunga efektif rata-rata tertimbang untuk tahun yang The weighted average effective interest rate per annum for
berakhir pada tanggal 31 Desember 2021 dan 2020 adalah the year ended 31 December 2021 and 2020 were 6.52%
6,52% dan 7,85%. and 7.85%.
Berikut ini adalah tabel rincian dari pinjaman yang diterima: The following table detail of borrowings:
Batas
maksimum Perjanjian terakhir/ Suku bunga kontraktual/
kredit/ Latest agreement Contractual interest rate
Nama Bank/ Fasilitas/ Maximum Cicilan pokok/
Bank Name Facility credit limit Awal/Start Akhir/End 2021 2020 Principal installment
Pembayaran penuh pada

MUFG Bank, Ltd. 16 November/ 20 Mei/ saat jatuh tempo/Bullet
(Jakarta) I USD50.000.000 November 2020 May 2022 4,65% - payment on maturity date
17 November/ 17 Mei/ Setiap satu bulan sekali/
II 1.000.000 November 2021 May 2023 3,90% - Monthly basis
Pembayaran penuh pada
17 November/ 17 Mei/ saat jatuh tempo/Bullet
III 500.000 November 2021 May 2023 - - payment on maturity date
PT Bank Mandiri 14 Mei/ 13 Mei/ Setiap satu bulan sekali/

(Persero) Tbk I 2.000.000 May 2019 May 2021 7,25% 7,25% - 8,90% Monthly basis
13 April/ 13 April/ Setiap satu bulan sekali/
II 2.000.000 April 2021 April 2024 4,80% - 5,35% - Monthly basis
PT Bank Maybank 20 Maret/ 20 Maret/ Setiap satu bulan sekali/

Indonesia Tbk I 750.000 March 2019 March 2023 9.15% 9,15% Monthly basis
PT Bank UOB 16 Desember/ 16 Juni/ Setiap tiga bulan sekali/

Indonesia I 500.000 December 2021 June 2023 4,90% - Quarterly basis
PT Bank CTBC 6 Juli/ 6 Juli/ Setiap satu bulan sekali/

Indonesia I 75.000 July 2020 July 2022 5,45% - Monthly basis
The Hongkong and

Shanghai Pembayaran penuh pada
Banking 16 September/ 15 Juni/ saat jatuh tempo/Bullet
Cooperation, Ltd. I 400.000 September 2014 June 2021 7,35% - 7,45% 7,35% - 9,00% payment on maturity date
633


26. PINJAMAN YANG DITERIMA (lanjutan) 26. BORROWINGS (continued)

Berikut ini adalah tabel rincian dari pinjaman yang diterima The following table detail of borrowings (continued):
(lanjutan):
Batas maksimum Perjanjian terakhir/ Suku bunga kontraktual/

kredit/ Latest agreement Contractual interest rate
Nama Bank/ Fasilitas/ Maximum credit Cicilan pokok/
Bank Name Facility limit Awal/Start Akhir/End 2021 2020 Principal installment
Pembayaran penuh pada saat

Citibank, N.A., 29 Mei/ 9 Februari/ jatuh tempo/Bullet payment on
Indonesia I 600.000 May 2019 February 2022 6,40% - 7,30% 6,25% - 7,30% maturity date
PT Bank Pan 23 Maret/ 23 September/ Setiap satu bulan sekali/

Indonesia Tbk I 2.500.000 March 2018 September 2021 7,90% - 8,25% 7,90% - 8,38% Monthly basis
25 Maret/ 30 September/ Setiap satu bulan sekali/
II 2.500.000 March 2019 September 2024 - 8,25% - 9,00% Monthly basis
19 Desember/ 20 Februari/ Setiap satu bulan sekali/

PT Bank DKI I 500.000 December 2018 February 2021 - 8,70% Monthly basis
17 Oktober/ 17 April/ Setiap satu bulan sekali/
II 300.000 October 2019 April 2022 7,23% 7,23% - 7,38% Monthly basis
Pembayaran penuh pada saat

PT Bank Central 9 September/ 14 Maret/ jatuh tempo/Bullet
Asia Tbk I 500.000 September 2021 March 2022 4,15% - 4,35% 5,90% - 6,25% payment on maturity date
9 September/ 20 April/ Setiap satu bulan sekali/
II 1.000.000 September 2021 April 2025 7,40% 7,40% Monthly basis
PT Bank BCA 10 Mei/ 10 Mei/ Setiap satu bulan sekali/

Syariah I 200.000 May 2021 May 2025 - 9,00% Monthly basis
BNP Paribas
(Singapore) - 24 Mei/ 24 November/ Setiap tiga bulan sekali/
Syndicated I USD 300.000.000 May 2018 November 2021 - 1,10% - 2,90% Quarterly basis
5 April/ 5 Oktober/ Setiap tiga bulan sekali/
II USD 350.000.000 April 2019 October 2022 1,01% - 1,14% 1,10% - 2,93% Quarterly basis
17 Januari/ 17 Juli/ Setiap tiga bulan sekali/
III USD 300.000.000 January 2020 July 2023 1,01% - 1,14% 1,12% - 2,59% Quarterly basis
MUFG Bank, Ltd. 1 Oktober/ 3 Oktober/ Setiap tiga bulan sekali/

(Singapore) I ¥13.270.000.000 October 2021 October 2025 - - Quarterly basis
Untuk pinjaman BNP Paribas (Singapore) sindikasi fasilitas For BNP Paribas (Singapore) syndicated borrowing
I, Australia and New Zealand Banking Group Limited, BNP facility I, Australia and New Zealand Banking Group
Paribas (Singapore), Citigroup Global Markets Singapore Limited, BNP Paribas (Singapore), Citigroup Global
PTE. Ltd., DBS Bank Ltd. dan MUFG Bank Ltd. bertindak Markets Singapore PTE. Ltd., DBS Bank Ltd. and MUFG
sebagai mandated lead arrangers, BNP Paribas (Singapore) Bank Ltd. acted as mandated lead arrangers, BNP
sebagai agent dan PT Bank BNP Paribas Indonesia Paribas (Singapore) acted as agent and PT Bank BNP
bertindak sebagai security agent. Australia And New Paribas Indonesia acted as security agent. Australia And
Zealand Banking Group Limited, BNP Paribas (Singapore), New Zealand Banking Group Limited, BNP Paribas
Citibank N.A. (Hong Kong), DBS Bank Ltd., MUFG Bank Ltd. (Singapore), Citibank N.A. (Hong Kong), DBS Bank Ltd.,
(Jakarta), Bank of Baroda (Singapore), The Korea MUFG Bank Ltd. (Jakarta), Bank of Baroda (Singapore),
Development Bank, The Korea Development Bank The Korea Development Bank, The Korea Development
(Singapore), Sumitomo Mitsui Trust Bank Limited Bank (Singapore), Sumitomo Mitsui Trust Bank Limited
(Singapore), Bank of China (Hong Kong) Limited (Jakarta), (Singapore), Bank of China (Hong Kong) Limited
Bank of Taiwan (Singapore), Mega International Commercial (Jakarta), Bank of Taiwan (Singapore), Mega
Bank Co. Ltd., Far Eastern International Bank, First International Commercial Bank Co. Ltd., Far Eastern
Commercial Bank, Hua Nan Commercial Bank Ltd., Hua Nan International Bank, First Commercial Bank, Hua Nan
Commercial Bank Ltd. (Singapore), Land Bank of Taiwan Commercial Bank Ltd., Hua Nan Commercial Bank Ltd.
(Singapore), The Nishi-Nippon City Bank Ltd., Cathay United (Singapore), Land Bank of Taiwan (Singapore), The
Bank, E.SUN Commercial Bank Ltd. (Singapore), The Nishi-Nippon City Bank Ltd., Cathay United Bank, E.SUN
Gunma Bank Ltd., The Hyakugo Bank Ltd., Jih Sun Commercial Bank Ltd. (Singapore), The Gunma Bank
International Bank Ltd., Sunny Bank Ltd., Taishin Ltd., The Hyakugo Bank Ltd., Jih Sun International Bank
International Bank Co. Ltd., Taiwan Business Bank, Bank of Ltd., Sunny Bank Ltd., Taishin International Bank Co.
Panhsin, The Hokkoku Bank Ltd. (Singapore) bertindak Ltd., Taiwan Business Bank, Bank of Panhsin, The
sebagai original lenders. Hokkoku Bank Ltd. (Singapore) acted as original lenders.
634

Untuk pinjaman BNP Paribas (Singapore) sindikasi For BNP Paribas (Singapore) syndicated borrowing
fasilitas II, BNP Paribas (Singapore), DBS Bank Ltd., facility II, BNP Paribas (Singapore), DBS Bank Ltd.,
Maybank Kim Eng Securities PTE Ltd. MUFG Bank Ltd. Maybank Kim Eng Securities PTE Ltd. MUFG Bank Ltd.
dan United Overseas Bank Limited bertindak sebagai and United Overseas Bank Limited acted as mandated
mandated lead arrangers, BNP Paribas (Singapore) lead arrangers, BNP Paribas (Singapore) acted as agent
sebagai agent dan PT Bank BNP Paribas Indonesia dan PT Bank BNP Paribas Indonesia acted as security
bertindak sebagai security agent. BNP Paribas agent. BNP Paribas (Singapore), DBS Bank, Ltd.,
(Singapore), DBS Bank, Ltd., Malayan Banking Berhad Malayan Banking Berhad (Singapore), MUFG Bank, Ltd.
(Singapore), MUFG Bank, Ltd. (Jakarta), United Overseas (Jakarta), United Overseas Bank Limited, Bank of
Bank Limited, Bank of Taiwan (Singapore), Sumitomo Taiwan (Singapore), Sumitomo Mitsui Trust Bank,
Mitsui Trust Bank, Limited (Singapore), Bank of Baroda Limited (Singapore), Bank of Baroda (Singapore),
(Singapore), Cathay United Bank, CTBC Bank Co., Ltd, Cathay United Bank, CTBC Bank Co., Ltd, Far Eastern
Far Eastern International Bank, Ltd, First Commercial International Bank, Ltd, First Commercial Bank, Indian
Bank, Indian Bank (Singapore), Mega International Bank (Singapore), Mega International Commercial Bank
Commercial Bank Co., Ltd., Taiwan Business Bank, Co., Ltd., Taiwan Business Bank, Taiwan Cooperative
Taiwan Cooperative Bank, The Nishi-Nippon City Bank, Bank, The Nishi-Nippon City Bank, Ltd., Jih Sun
Ltd., Jih Sun International Bank, Ltd., The Korea International Bank, Ltd., The Korea Development Bank,
Development Bank, The Export-Import Bank of the The Export-Import Bank of the Republic of China, E. SUN
Republic of China, E. SUN Commercial Bank, Ltd. Commercial Bank, Ltd. (Singapore), The Gunma Bank,
(Singapore), The Gunma Bank, Ltd., The Korea Ltd., The Korea Development Bank (Singapore), Hua
Development Bank (Singapore), Hua Nan Commercial Nan Commercial Bank, Ltd., Hua Nan Commercial Bank,
Bank, Ltd., Hua Nan Commercial Bank, Ltd. (Singapore), Ltd. (Singapore), Bank of Panhsin and Sunny Bank, Ltd.
Bank of Panhsin dan Sunny Bank, Ltd. bertindak sebagai acted as original lenders.
original lenders.
Untuk pinjaman BNP Paribas (Singapore) sindikasi For BNP Paribas (Singapore) syndicated borrowing
fasilitas III, Australia and New Zealand Banking Group facility III,, Australia and New Zealand Banking Group
Limited, DBS Bank Ltd., Maybank Kim Eng Securities PTE Limited, DBS Bank Ltd., Maybank Kim Eng Securities
Ltd. MUFG Bank Ltd. dan United Overseas Bank Limited PTE Ltd. MUFG Bank Ltd. and United Overseas Bank
bertindak sebagai mandated lead arrangers dan Limited acted as mandated lead arrangers and
bookrunners, BNP Paribas (Singapore) sebagai agent bookrunners, BNP Paribas (Singapore) acted as agent
dan PT Bank BNP Paribas Indonesia bertindak sebagai dan PT Bank BNP Paribas Indonesia acted as security
security agent. Australia and New Zealand Banking Group agent. Australia and New Zealand Banking Group
Limited, Bank of Baroda (Singapore), Bank of China Limited, Bank of Baroda (Singapore), Bank of China
Limited (Singapore), Bank of Taiwan (Singapore), The Limited (Singapore), Bank of Taiwan (Singapore), The
Chugoku Bank, Ltd. (Hong Kong), Chang Hwa Chugoku Bank, Ltd. (Hong Kong), Chang Hwa
Commercial Bank, Ltd. (Singapore), CTBC Bank Co., Ltd., Commercial Bank, Ltd. (Singapore), CTBC Bank Co.,
DBS Bank Ltd., Far Eastern International Bank, Ltd, First Ltd., DBS Bank Ltd., Far Eastern International Bank, Ltd,
Commercial Bank, The Gunma Bank, Ltd., Hua Nan First Commercial Bank, The Gunma Bank, Ltd., Hua Nan
Commercial Bank, Ltd., Hua Nan Commercial Bank, Ltd. Commercial Bank, Ltd., Hua Nan Commercial Bank, Ltd.
(Singapore), Land Bank of Taiwan, Malayan Banking (Singapore), Land Bank of Taiwan, Malayan Banking
Berhad (Singapore), Mega International Commercial Co., Berhad (Singapore), Mega International Commercial
Ltd. (Singapore), MUFG Bank, Ltd., The Norinchukin Co., Ltd. (Singapore), MUFG Bank, Ltd., The
Bank (Singapore), RHB Bank Berhad, State Bank of India Norinchukin Bank (Singapore), RHB Bank Berhad, State
(Tokyo), Sumitomo Mitsui Trust Bank, Limited Bank of India (Tokyo), Sumitomo Mitsui Trust Bank,
(Singapore), Taishin International Bank Co., Ltd., United Limited (Singapore), Taishin International Bank Co., Ltd.,
Overseas Bank Limited, E.SUN Commercial bank, Ltd. United Overseas Bank Limited, E.SUN Commercial
(Singapore), The Chiba Bank, Ltd. (Hong Kong), The bank, Ltd. (Singapore), The Chiba Bank, Ltd. (Hong
Daishi Bank, Ltd., The Export-Import Bank of the Republic Kong), The Daishi Bank, Ltd., The Export-Import Bank of
of China, The Hyakugo Bank, Ltd., The Iyo Bank, Ltd., The the Republic of China, The Hyakugo Bank, Ltd., The Iyo
Shanghai Commercial & Savings Bank, Ltd., The Bank, Ltd., The Shanghai Commercial & Savings Bank,
Shizuoka Bank, Ltd. (Hong Kong), Taiwan Business Bank, Ltd., The Shizuoka Bank, Ltd. (Hong Kong), Taiwan
Ltd., The Higo Bank, Ltd., The Joyo Bank, Ltd., The Shiga Business Bank, Ltd., The Higo Bank, Ltd., The Joyo
Bank, Ltd., dan The Bank of Kyoto, Ltd. bertindak sebagai Bank, Ltd., The Shiga Bank, Ltd., and The Bank of Kyoto,
original lenders. Ltd. acted as original lenders.
635


Pinjaman yang diterima dari PT Bank Central Asia Tbk The borrowings from PT Bank Central Asia Tbk (facility I),
(fasilitas I), Citibank, N.A., Indonesia, The Hongkong and Citibank, N.A., Indonesia, The Hongkong and Shanghai
Shanghai Banking Corporation, Ltd., PT Bank BCA Banking Corporation, Ltd., PT Bank BCA Syariah, and
Syariah, dan MUFG Bank, Ltd. (Jakarta) (fasilitas III), MUFG Bank, Ltd. (Jakarta) (facility III) are revolving
merupakan fasilitas pinjaman modal kerja berulang. working capital facilities.
Untuk fasilitas pinjaman dari MUFG Bank, Ltd. (Jakarta) For borrowing facility from MUFG Bank, Ltd. (Jakarta)
(fasilitas I), ADMF menerima pinjaman dalam mata uang (facility I), the ADMF receive borrowing in Indonesian
Rupiah. Untuk fasilitas pinjaman dari MUFG Bank, Ltd. Rupiah. For borrowing facility from MUFG Bank, Ltd.
(Singapore), ADMF akan menerima pinjaman dalam mata (Singapore), the ADMF will receive borrowing in
uang Rupiah melalui MUFG Bank, Ltd (Jakarta). Sampai Indonesian Rupiah through MUFG Bank, Ltd (Jakarta).
dengan tanggal 31 Desember 2021, ADMF belum Until 31 December 2021, the ADMF has not drawdown
melakukan penarikan pinjaman atas fasilitas pinjaman yet the borrowing facility from MUFG Bank, Ltd.
MUFG Bank, Ltd. (Singapore). (Singapore).
Seluruh pinjaman yang diterima oleh ADMF digunakan All of the ADMF’s borrowings are used for working capital
untuk modal kerja. Selama pinjaman belum dilunasi, ADMF purposes. During the period that the loan is still
tidak diperkenankan antara lain, menjual, memindahkan outstanding, the ADMF is not allowed to, among others,
dan mengalihkan jaminan, melakukan investasi, sell, transfer and assign the collateral, make an
melakukan penggabungan usaha atau mengikat diri investment, enter into a merger or act as a guarantor,
sebagai penjamin, kecuali dengan except with notification to/prior written consent from
pemberitahuan/persetujuan tertulis terlebih dahulu dari creditor. The ADMF is also required to maintain debt to
kreditur. ADMF juga diharuskan untuk mempertahankan equity ratio at the maximum 10:1 and other reporting
rasio jumlah pinjaman terhadap ekuitas tidak melebihi rasio obligation.
10:1 dan kewajiban penyampaian laporan lainnya.
Pada tanggal 31 Desember 2021 dan 2020, saldo pinjaman As of 31 December 2021 and 2020, the outstanding
yang diterima dalam mata uang Dolar Amerika Serikat balance of the borrowings denominated in United States
sebesar USD222.916.666 dan USD534.583.333, termasuk Dollar amounted to USD222,916,666 and
bunganya telah dilindung nilai dengan kontrak cross USD534,583,333, including the interest which was
currency swap (lihat Catatan 10 dan 38). hedged by cross currency swap (see Note 10 and 38).
Untuk tahun berakhir 31 Desember 2021 dan 2020, For year ended 31 December 2021 and 2020,
amortisasi beban provisi atas pinjaman yang diterima amortization of provision expenses on borrowings was
yang dibebankan ke laporan laba rugi. charged to the statement of profit or loss.
Pada tanggal 31 Desember 2021, seluruh fasilitas As of 31 December 2021, all of the loan facilities, except
pinjaman, kecuali fasilitas pinjaman dari PT Bank Central loan facilities from PT Bank Central Asia (facility I), MUFG
Asia Tbk (fasilitas I), MUFG Bank, Ltd (Singapura), PT Bank, Ltd (Singapore), PT Bank Mandiri (Persero) Tbk
Bank Mandiri (Persero) Tbk (fasilitas II), PT Bank UOB (facility II), PT Bank UOB Indonesia, MUFG Bank, Ltd
Indonesia, MUFG Bank, Ltd (Jakarta) (fasilitas II dan III) (Jakarta) (facility II and III) and Citibank, N.A, Indonesia,
dan Citibank, N.A, Indonesia, dijamin dengan piutang are secured by consumer financing receivables and
pembiayaan konsumen dan piutang pembiayaan murabahah financing receivables.
murabahah .
Pembayaran bunga dan pokok pinjaman telah Interest and principal loan payments have been paid
dibayarkan oleh ADMF sesuai dengan jadwal. by ADMF on schedule.
Pada tanggal 31 Desember 2021, ADMF telah As of 31 December 2021, ADMF has complied with all
memenuhi seluruh persyaratan yang disebutkan dalam the requirements mentioned in the loan facility
perjanjian fasilitas-fasilitas pinjaman ini. agreements.
636

27. PERPAJAKAN 27. TAXATION
a. Pajak dibayar dimuka a. Prepaid tax
2021 2020
Bank Bank
Surat Ketetapan Pajak (SKP) 262.302 335.566 Tax Assessment Letters
Entitas Anak Subsidiaries
Surat Ketetapan Pajak (SKP) 336.842 340.710 Tax Assessment Letters
599.144 676.276
b. Utang pajak b. Taxes payable
2021 2020
Bank Bank
Pajak Penghasilan: Income Tax:
- Pajak Penghasilan Badan 705 43.019 Corporate Income Tax -
- Pasal 21 3.335 49.155 Article 21 -
- Pajak Penghasilan Lainnya 16.278 18.465 Other Income Taxes -
Pajak Pertambahan Nilai 18.180 4.322 Value Added Tax
38.498 114.961
Pajak Penghasilan: Income Tax:
- Pajak Penghasilan Badan 150.257 173.180 Corporate Income Tax -
- Pasal 21 14.242 6.111 Article 21 -
- Pajak Penghasilan Lainnya 5.132 2.991 Other Income Taxes -
Pajak Pertambahan Nilai 4.055 3.614 Value Added Tax
173.686 185.896
212.184 300.857
c. Beban pajak penghasilan c. Income tax expense
2021 2020
Bank Bank
Kini 265.785 382.604 Current
Tangguhan (116.540) (230.006) Deferred
Dampak penyesuaian tarif pajak (47.288) 374.674 Impact on the rate adjustment
Penyesuaian Pajak Tangguhan 123.180 - Deferred Tax Adjustment
225.137 527.272
Kini 337.764 409.852 Current
Tangguhan 65.631 (29.258) Deferred
385.503 450.862
Konsolidasian Consolidated
Kini 603.549 792.456 Current
Tangguhan (50.909) (259.264) Deferred
Total 610.640 978.134 Total
637


27. PERPAJAKAN (lanjutan) 27. TAXATION (continued)
c. Beban pajak penghasilan (lanjutan) c. Income tax expense (continued)
Rekonsiliasi antara laba sebelum pajak penghasilan, The reconciliation between income before income
seperti yang disajikan dalam laporan laba rugi tax, as shown in the consolidated statements of profit
konsolidasian, dan penghasilan kena pajak Bank or loss of the Bank, and taxable income for the
untuk tahun yang berakhir pada tanggal 31 Desember year ended 31 December 2021 and 2020 is as
2021 dan 2020 adalah sebagai berikut: follows:
2021 2020
Laba konsolidasian Consolidated income
sebelum pajak penghasilan 2.279.920 2.067.076 before income tax
Laba sebelum pajak - Entitas Anak (481.670) (532.190) Income before tax - Subsidiaries
Laba sebelum pajak - Bank 1.798.250 1.534.886 Income before tax - Bank
Bagian ekuitas atas Equity account of net income of
laba Entitas Anak (1.117.187) (944.983) Subsidiaries
Laba akuntansi sebelum pajak Accounting income before tax
(Bank saja - untuk tujuan pajak) 681.063 589.903 (Bank only - for tax purposes)
Perbedaan temporer: Temporary differences:
- Kerugian penurunan nilai
atas aset dan Impairment losses on assets -
penghapusbukuan pinjaman 442.243 1.096.942 and loans written off
- Keuntungan yang belum Unrealized Gains from -
direalisasi atas perubahan nilai changes in fair value
wajar efek-efek dan Obligasi of marketable securities
Pemerintah - neto (5.742) 4.771 and Government Bonds - net
- Penyusutan aset tetap (4.078) 33.249 Depreciation of fixed assets -
- Pengurangan imbalan kerja
karyawan 138.539 (48.357) Deduction of employee benefits -
- Lain-lain (41.237) (41.120) Others -
529.725 1.045.485
Perbedaan permanen: Permanent differences:
- Penyusutan aset tetap 1.537 3.190 Depreciation of fixed assets -
- Lain-lain (4.213) 100.531 Others -
(2.676) 103.721
Penghasilan kena pajak 1.208.112 1.739.109 Taxable income
Beban pajak penghasilan badan 265.785 382.604 Corporate income tax expense
Dikurangi: Less:
Pajak dibayar dimuka pasal 25 (265.080) (339.585) Prepaid tax article 25
Utang pajak penghasilan badan 705 43.019 Corporate income tax payable
Sesuai dengan Undang-Undang Perpajakan In accordance with Indonesia Taxation Law,

Indonesia, pajak penghasilan badan dihitung secara Corporate income tax is calculated annually for the
tahunan untuk Bank dan Entitas Anak sebagai entitas Bank and Subsidiaries in the understanding that they
hukum yang terpisah. are separate legal entities.
Jumlah laba kena pajak Bank untuk tahun yang The Bank’s taxable income for the year ended
berakhir pada tanggal 31 Desember 2021 menjadi 31 December 2021 is the basis for preparing annual
dasar dalam pengisian SPT tahunan 2021. tax return for 2021.
Laba kena pajak hasil rekonsiliasi untuk tahun 2020 Taxable income which resulted from reconciliation for
sesuai dengan SPT Tahunan PPh Badan Bank. the year 2020 conforms with the Bank’s Annual
Corporate Income Tax Return.
638

Rekonsiliasi atas beban pajak penghasilan Bank dan The reconciliation between the Bank and
Entitas Anak dengan perkalian laba akuntansi Bank Subsidiaries income tax expense and the Bank and
dan Entitas Anak sebelum pajak penghasilan dan Subsidiaries accounting profit before tax multiplied by
tarif pajak yang berlaku adalah sebagai berikut: the prevailing tax rate is as follows:
2021 2020
Laba konsolidasian Consolidated income
sebelum pajak penghasilan 2.279.920 2.067.076 before income tax
Pendapatan yang dikenakan
pajak final (42.649) (61.485) Income subject to final tax
2.237.271 2.005.591
Pajak dihitung pada tarif pajak 492.200 441.230 Tax calculated at statutory tax rate
Beban yang tidak dapat
dikurangkan-neto (589) 22.819 Non deductible expenses - net
Dampak perubahan tarif pajak 22% (47.288) 374.674 Effect of change in tax rate at 22%
Perbedaan permanen dengan tarif Permanent differences at
pajak 22% - Entitas Anak 61.173 69.305 22% - subsidiary
Dampak perubahan tarif pajak 22% - Effect of change in tax rate at
Entitas Anak (17.892) 70.268 22% - subsidiary
Lain-lain dan eliminasi (144) (162) Others and elimination
Beban pajak penghasilan 610.640 978.134 Income tax expense
Tarif Pajak Tax Rate
Pada tanggal 31 Maret 2020, Pemerintah On 31 March 2020, the Government issued Perpu
menerbitkan Perpu No.1/2020 ("Peraturan"), tentang No.1/2020 ("the Regulations"), on State Financial
Kebijakan Keuangan Negara dan Stabilitas Sistem Policies and Financial System Stability for Handling
Keuangan untuk Penanganan Pandemi COVID-19 the COVID-19 Pandemic and/or In the Context of
dan/atau Dalam Rangka Menghadapi Ancaman Facing Threats that Endanger the National Economy
yang Membahayakan Perekonomian Nasional and/or Financial System Stability and has been
dan/atau Stabilitas Sistem Keuangan dan telah determined through Law No.2 of 2020 which was
ditetapkan melalui Undang-Undang No.2 Tahun authorized by the House of Representative on
2020 yang disahkan oleh Dewan Perwakilan Rakyat 16 May 2020 and effective since 18 May 2020. One
pada tanggal 16 Mei 2020 dan berlaku sejak 18 Mei of the clauses in this regulation is a reduction in tax
2020. Salah satu klausa dalam peraturan ini adalah rates, which is 22% for 2020-2021 and 20% for 2022
pengurangan tarif pajak, yaitu 22% untuk tahun 2020 onwards.
- 2021 dan 20% untuk tahun 2022 dan seterusnya.
Pada tanggal 29 Oktober 2021, Pemerintah On 29 October 2021, the Goverment stipulated Law
menetapkan Undang-Undang No.7 Tahun 2021 No.7 Year 2021 on the Harmonization of Tax
tentang Harmonisasi Peraturan Perpajakan Regulations (“HPP Bill”). One of the changes in this
(“UU HPP”). Salah satu perubahan dalam UU HPP HPP Law is the corporate income tax rate applicable
ini adalah tarif pajak penghasilan badan yang in 2022 and so forth is 22%.
berlaku di tahun 2022 dan seterusnya adalah 22%.
639


Bank Bank
Pemeriksaan pajak tahun 2008 Tax audit for the fiscal year 2008
Pada bulan Februari 2012, Bank menerima Surat In February 2012, the Bank received tax
Ketetapan Pajak (SKP) untuk tahun fiskal 2008. assessment letters for the fiscal year 2008. Based
Berdasarkan SKP tersebut, Kantor Pajak menetapkan on the assessment letters, the Tax Office
kurang bayar atas pajak penghasilan karyawan, pajak confirmed the underpayment of employee income
penghasilan pasal 23/26, pajak final pasal 4(2), Pajak tax, withholding tax articles 23/26, final tax article
Pertambahan Nilai (“PPN”), dan pajak penghasilan 4(2), Value Added Tax (“VAT”), and corporate
badan dengan jumlah keseluruhan Rp106.607. Hasil income tax aggregating Rp106,607. The result of
pemeriksaan tersebut telah disetujui oleh Manajemen the audit was agreed by the Bank’s Management,
Bank, kecuali ketetapan kurang bayar pajak except for the assessment on the underpayment
penghasilan badan dan pajak penghasilan pasal 26 of corporate income tax and withholding tax article
masing-masing sebesar Rp30.621 dan Rp61.861. 26 of Rp30,621 and Rp61,861, respectively. On
Pada tanggal 3 Mei 2012, Bank telah mengajukan 3 May 2012, the Bank submitted objection letter
surat keberatan atas penetapan pajak tersebut. on the above tax assessments.
Hasil pemeriksaan yang telah disetujui Manajemen The tax assessment which was agreed by the
Bank masing-masing sebesar Rp13.463 dan Rp662 Bank’s Management of Rp13,463 and Rp662 was
telah dibebankan ke laporan laba rugi tahun 2011 dan charged to the 2011 and 2012 profit or loss,
2012. respectively.
Pada bulan April 2013, Kantor Pelayanan Pajak telah In April 2013, the Tax Office issued a rejection
menerbitkan surat keputusan penolakan permohonan letter to the objection letter on withholding tax
keberatan pajak penghasilan pasal 26 dan hanya article 26 and only agreed to the objection on the
menyetujui permohonan keberatan pajak penghasilan corporate income tax of Rp6. In July 2013, the
badan sebesar Rp6. Pada bulan Juli 2013, Bank telah Bank submitted an appeal to the Tax Court on
mengajukan permohonan banding ke Pengadilan withholding tax article 26 and the corporate
Pajak atas pajak penghasilan pasal 26 dan pajak income tax of Rp61,861 and Rp30,615,
penghasilan badan masing-masing sebesar respectively, which was rejected by the Tax Court.
Rp61.861 dan Rp30.615 dan ditolak oleh Pengadilan
Pajak.
Atas penolakan ini Bank telah mengajukan The Bank filed a request for tax reconsideration
permohonan peninjauan kembali atas putusan on the Tax Court decision with the Supreme Court
Pengadilan Pajak ke Mahkamah Agung pada tanggal on 26 November 2014. The amount paid of
26 November 2014. Jumlah yang telah dibayarkan Rp92,476 is recorded as prepaid tax.
sebesar Rp92.476 dicatat sebagai pajak dibayar
dimuka.
Di tahun 2016, atas permohonan peninjauan kembali In 2016, regarding the request for judicial review
pajak penghasilan badan dan pajak penghasilan of corporate income tax and withholding tax article
pasal 26, Mahkamah Agung telah menerbitkan 26, the Supreme Court has issued decision which
keputusan resmi yang mengabulkan semua accepts the request for judicial review of
permohonan peninjauan kembali untuk pajak corporate income tax and withholding tax article
penghasilan badan dan pajak penghasilan pasal 26 26 in the amount of Rp30,615 and Rp61,861,
sebesar masing-masing Rp30.615 dan Rp61.861. respectively.
Bank telah menerima sejumlah Rp66.705 dari Kantor The Bank received the amount of Rp66,705 from
Pelayanan Pajak sebagai pengembalian dari pajak the Tax Office as part of the amount of refund of
dibayar dimuka yang nilainya Rp92.476. the prepaid tax of Rp92,476.
Bank telah mengirimkan surat permohonan The Bank has sent refund request letters of
pengembalian pajak atas Rp25.771, namun Kantor Rp25,771, but Tax Office rejected those letters.
Pajak menolak permohonan tersebut. Atas penolakan For this rejection, the Bank has submitted a
tersebut, Bank telah mengajukan gugatan ke lawsuit to the tax court.
Pengadilan Pajak.
640

Bank (lanjutan) Bank (continued)
Pada bulan November 2019, Bank menerima Surat In November 2019, the Bank received tax
Ketetapan Pajak (SKP) untuk tahun fiskal 2016. assessment letters for the fiscal year 2016. Based
Berdasarkan SKP tersebut, Kantor Pajak menetapkan on the assessment letters, the Tax Office
kurang bayar atas PPh pasal 26, PPh final pasal 4(2), confirmed the underpayment of WHT article 26,
PPN, dan PPh Badan dengan jumlah keseluruhan FIT article 4(2), VAT, and CIT aggregating
Rp310.756. Hasil pemeriksaan tersebut telah disetujui Rp310,756. The result of the audit was agreed by
oleh Manajemen Bank, kecuali ketetapan kurang bayar the Bank’s Management, except for the
PPh Badan, PPh Pasal 26, PPh Pasal 4(2) dan PPN assessment on the underpayment of CIT, WHT
masing-masing sebesar Rp274.415, Rp4.699, article 26, FIT article 4(2) and VAT of Rp274,415,
Rp2.591, dan Rp22.357. Pada tanggal 7 Februari 2020, Rp4,699, Rp2,591, and Rp22,357, respectively.
Bank telah mengajukan surat keberatan atas On 7 February 2020, the Bank submitted
penetapan pajak tersebut. Jumlah yang telah objection letter on the above tax assessments.
dibayarkan sebesar Rp304.062 dicatat sebagai pajak The amount paid of Rp304,062 is recorded as
dibayar dimuka. prepaid tax.
Pada Januari 2021, Bank menerima Surat Keputusan In January 2021, the Bank has received Tax
Keberatan atas Surat Ketetapan Pajak PPN masa Objection Decision Letter on VAT Assessment
Januari - Desember 2016, Surat Ketetapan PPh Badan, Letter for period January - December 2016, CIT
dan Surat Ketetapan PPh Pasal 26 dan PPh Final Pasal Assessment Letter, and Article 26 withholding tax
4(2). Dalam Surat Keputusan Keberatan tersebut, and FIT Article 4(2) Assessment Letter. On the tax
Kantor Pajak menyetujui permohonan keberatan pajak objection decision letter, the Tax Office agreed
PPh Badan Bank sebesar Rp73.236. Atas sisa the CIT objection amounting Rp73,236. The
keberatan pajak sebesar Rp230.826, Bank telah remaining tax objection amounting Rp230,826,
mengajukan permohonan banding ke Pengadilan Bank has submitted an appeal letter to Tax Court,
Pajak, dan sampai dengan laporan ini diterbitkan, and until the issuance date of this financial
pengadilan pajak masih memproses banding tersebut. statement, the tax court is still processing the
appeal.
Bank telah menerima sejumlah Rp73.236 dari Kantor The Bank has received the agreed amount of
Pajak atas permohonan keberatan pajak PPh Badan Rp73,236 from the Tax Office on the above CIT
tersebut di atas. objection.
Pada April 2021, Bank telah menerima Surat In April 2021, the Bank has received Decision
Keputusan Pengembalian Kelebihan Pembayaran PPN Letter for the Return of VAT Overpayment for the
Masa Oktober 2016 sebesar Rp28 dan Bank telah Period of October 2016 amounting to Rp28 and
menerima pengembalian sejumlah Rp28 dari Kantor the Bank has received a payment of Rp28 from
Pajak. the Tax Office.
Pada Bulan Maret 2021, Bank menerima Surat Perintah On March 2021, The Bank has received Tax Audit
Pemeriksaan Pajak dari Kantor Wilayah DJP Wajib Instruction Letter from Large Taxpayer Regional
Pajak Besar terkait dengan pemeriksaan semua jenis Office in relation to audit on all taxes for fiscal year
pajak untuk tahun pajak 2017. Sampai dengan laporan 2017. Until the issuance date of this financial
ini diterbitkan, proses pemeriksaan pajak tersebut statement, the tax audit process is still ongoing.
masih berlangsung.
Pada bulan Januari 2022, Bank telah menerima Surat In January 2022, the Bank has received Tax Audit
Pemberitahuan Hasil Pemeriksaan (“SPHP”) untuk Notification Letter ("SPHP") for the fiscal year
tahun fiskal 2017. Bank telah mengirimkan tanggapan 2017. The Bank has submitted the response on
atas SPHP tersebut. said SPHP.
641


Penggabungan usaha Merger
Pada saat tanggal penggabungan usaha, BNP masih At the merger date, BNP still had several
memiliki beberapa proses banding yang berjalan atas outstanding appeals processes on the results of
hasil pemeriksaan pajak untuk tahun fiskal 2013 tax audits for fiscal years 2013 through 2017 with
sampai dengan 2017 dengan total permohonan a total tax appeals of Rp33,368. For the above
banding pajak sebesar Rp33.368. Atas proses yang outstanding items, BNP has recorded prepaid tax
masih berjalan tersebut, BNP telah membukukan of Rp5,733.
pajak dibayar dimuka sebesar Rp5.733.
ADMF ADMF
Pada tanggal 4 Juli 2018, ADMF menerima Surat On 4 July 2018, ADMF received Tax Assessment
Ketetapan Pajak (SKP) untuk tahun fiskal 2016. Letters for the fiscal year 2016. Based on the
Berdasarkan SKP tersebut, Kantor Pajak menetapkan Assessment Letters, the Tax Office confirmed the
kurang bayar atas Pajak Penghasilan Pasal 21 (“PPh underpayment of Article 21 Income Tax,
Pasal 21”), Pajak Penghasilan Pasal 23/26 (“PPh Withholding Tax articles 23/26, Value Added Tax
Pasal 23/26”), Pajak Pertambahan Nilai (“PPN”) dan (“VAT”), and Corporate Income Tax aggregating
Pajak Penghasilan Badan dengan jumlah keseluruhan Rp364,058. The result of the audit was agreed by
Rp364.058. Hasil pemeriksaan tersebut telah disetujui the ADMF’s Management, except for the
Manajemen ADMF, kecuali ketetapan kurang bayar assessment on the underpayment of Corporate
Pajak Penghasilan Badan sebesar Rp292.138 dan Income Tax of Rp292,138 and the VAT
ketetapan kurang bayar PPN sebesar Rp49.374 underpayment assessment of Rp49,374
(termasuk denda) yang telah dibayar dan dicatat (including penalty) which were also subsequently
sebagai pajak dibayar dimuka. Pada tanggal paid and recorded as prepaid tax. On
24 September 2018. 24 September 2018.
ADMF telah mengajukan surat keberatan atas ADMF has submitted the objection letter for the
penetapan Pajak Penghasilan Badan dan PPN yang assessment of Corporate Income Tax and VAT as
tercantum dalam Surat Ketetapan Pajak Kurang mentioned in the Underpayment Tax Assessment
Bayar. Hasil pemeriksaan yang telah disetujui Letters. The tax assessment which was agreed by
Manajemen ADMF masing-masing sebesar Rp21.073 ADMF’s Management of Rp21,073 for Corporate
untuk Pajak Penghasilan Badan, Rp1.167 untuk PPh Income Tax, Rp1,167 for Article 21 Income Tax,
Pasal 21, Rp117 untuk PPh Pasal 23/26 dan Rp189 Rp117 for Withholding Tax articles 23/26 and
untuk PPN Luar Negeri telah dibayar dan dibebankan Rp189 for Overseas VAT has been paid and was
ke laporan laba rugi tahun 2018. charged on 2018 profit or loss.
Pada tanggal 8 Agustus 2019, ADMF menerima Surat On 8 August 2019, ADMF received Objection
Keputusan Keberatan atas Surat Ketetapan Pajak Decision Letter on VAT assessment letter for
PPN masa Januari - Desember 2016 yang isinya period January - December 2016 which rejected
menolak seluruh keberatan ADMF. Pada tanggal all the ADMF’s objection. On 1 November 2019,
1 November 2019, ADMF telah mengajukan The ADMF has filed appeal request to Tax Court
permohonan banding ke Pengadilan Pajak atas on rejected decision of Rp49,374.
keputusan yang ditolak sebesar Rp49.374.
Pada tanggal 9 Agustus 2019, ADMF menerima Surat On 9 August 2019, the ADMF received Objection
Keputusan Keberatan atas Surat Ketetapan Pajak Decision Letter on CIT assessment letter for Fiscal
PPh Badan Tahun Pajak 2016. Dalam surat keputusan Year 2016. On that objection decision, Tax Office
keberatan tersebut, Kantor Pajak hanya menyetujui only partially agreed on CIT objection request
sebagian permohonan keberatan pajak PPh Badan amounting to Rp802. On 1 November 2019, The
sebesar Rp802. Pada tanggal 1 November 2019, ADMF has filed appeal request to Tax Court on
ADMF telah mengajukan permohonan banding ke rejected decision of Rp291,336.
Pengadilan Pajak atas keputusan yang ditolak
sebesar Rp291.336.
642

Entitas Anak (lanjutan) Subsidiaries (continued)
ADMF (lanjutan) ADMF (continued)
Pada tanggal 3 Mei 2021, Pengadilan Pajak On 3 May 2021, the Tax Court decided on the
memutuskan sengketa PPN ADMF. Dalam Putusan ADMF's VAT dispute. In the Tax Court's Decision
Pengadilan Pajak untuk kasus PPN masa Januari - for the VAT case for the period January -
Desember 2016, Majelis Hakim mengabulkan December 2016, the Panel of Judges granted part
sebagian permohonan banding ADMF yaitu sebesar of the ADMF's appeal, amounting to Rp4,407. Out
Rp4.407. Dari Rp 4.407 yang dikabulkan, Kantor Pajak of Rp 4.407 granted, Tax Office has refunded
telah mengembalikan sebesar Rp 3.868 sedangkan Rp3,868 while the refund process for Rp539 will
Rp 539 akan diproses pengembaliannya setelah be processed for refund after reconsideration
proses peninjauan kembali selesai. request is completed.
Atas porsi yang ditolak sebesar Rp44.967, ADMF telah For rejected portion of Rp44,967, the ADMF has
mengajukan Permohonan Peninjauan Kembali pada submitted Reconsideration Request on 6 August
tanggal 6 Agustus 2021 dan Kantor Pajak telah 2021 and Tax Office has submitted
memberikan Kontra Memori Peninjauan Kembali pada Reconsideration Request Counter Memory on
tanggal 16 September 2021. Atas porsi yang diterima 16 September 2021. For accepted portion of
sebesar Rp4.407, Kantor Pajak telah mengajukan Rp4,407, Tax Office has submitted
Permohonan Peninjauan Kembali pada tanggal Reconsideration Request on 4 August 2021 and
4 Agustus 2021 dan ADMF telah memberikan Kontra the ADMF has submitted Reconsideration Request
Memori Peninjauan Kembali pada tanggal Counter Memory on 15 September 2021.
15 September 2021.
Pada tanggal 13 Desember 2021, Pengadilan Pajak On 13 December 2021, the Tax Court decided on
memutuskan sengketa PPh Badan ADMF. Dalam the ADMF's CIT dispute. In the Tax Court's
Putusan Pengadilan Pajak untuk kasus PPh Badan Decision for the CIT case for Fiscal Year 2016, the
Tahun Pajak 2016, Majelis Hakim mengabulkan Panel of Judges granted some of the ADMF's
sebagian permohonan banding ADMF sebesar appeal, amounting to Rp290,091 and rejected
Rp290.091 dan menolak sebagian banding ADMF some of ADMF's appeal amounting to Rp1,245.
sebesar Rp1.245. Untuk bagian yang diterima, sampai For accepted part, up to reporting date, the
dengan tanggal pelaporan, ADMF belum mengetahui Company is not aware of any Reconsideration
adanya pengajuan Peninjauan Kembali oleh Kantor Request filed by Tax Office. For rejected part, the
Pajak. Untuk bagian yang ditolak, ADMF akan ADMF will file Reconsideration Request to
mengajukan Peninjauan Kembali ke Mahkamah Supreme Court.
Agung.
ADMF menerima Surat Perintah Pemeriksaan Pajak ADMF received Tax Audit Instruction Letter dated
tertanggal 28 November 2019 dari Kantor Pelayanan 28 November 2019 from Large Taxpayer Tax
Pajak Wajib Pajak Besar Satu terkait dengan Office One in relation to audit on all taxes for fiscal
pemeriksaan semua jenis pajak untuk tahun pajak year 2017. Until the issuance date of this
2017. Sampai dengan laporan keuangan consolidated financial statement, the tax audit
konsolidasian ini diterbitkan, proses pemeriksaan process is still ongoing.
pajak tersebut masih berlangsung.
643



d. Aset pajak tangguhan d. Deferred tax assets
Bank Bank
2021
Dikreditkan/
(dibebankan)
Dikreditkan/ ke Penyesuai
(dibeban- penghasilan Dikredit- -an
kan) komprehensif kan/ Pajak
ke laba lain/ (dibeban- Dampak Tangguh-
rugi/ Credited/ kan) perubahan an/
Credited/ (charged) ke ekuitas/ tarif pajak/ Deferred
1 (charged) to other Credited/ Effect of Tax 31
Januari/ to profit or comprehen- (charged) changes in Adjust- Desember/
January loss sive income to equity tax rate ment December
Aset pajak tangguhan: Deferred tax assets:

- Kerugian kredit Expected credit losses -
ekspektasian atas aset dan on assets and
penghapusbukuan pinjaman 2.224.800 97.293 - - 38.140 (112.233) 2.248.000 loans written off
- (Keuntungan)/kerugian yang Unrealized (gains)/losses -
belum direalisasi atas from changes in fair
perubahan nilai wajar value of marketable
efek-efek dan Obligasi securities and
Pemerintah - neto (146.965) (1.263) 38.870 - (11) - (109.369) Government Bonds-net
- Imbalan kerja karyawan Accrued employee -
yang masih harus dibayar 429.314 30.479 (34.325) - 21.289 - 446.757 benefits
Depreciation of -
- Penyusutan aset tetap 26.467 (897) - - (3.185) 2.979 25.364 fixed assets
- Lain-lain (42.369) (9.072) (744) (2.325) (8.945) (13.926) (77.381) Others -
Jumlah aset pajak tangguhan - Total deferred tax assets -
neto 2.491.247 116.540 3.801 (2.325) 47.288 (123.180) 2.533.371 net
2020
Dikreditkan/
(dibebankan) Dampak
ke penghasilan penerapan
Dikreditkan/ komprehensif awal PSAK
(dibebankan) lain/ Dampak 71/
ke laba rugi/ Credited/ perubahan Effect of
Credited/ (charged) tarif pajak/ initial
(charged) to other Effect of implementa- 31
1 Januari/ to profit or comprehensive changes in tion PSAK Desember/
January loss income tax rate 71 December

- Kerugian kredit ekspektasian
atas aset Expected credit losses -
dan penghapusbukuan on assets and
pinjaman 1.899.494 241.327 - (313.814) 397.793 2.224.800 loans written off
- (Keuntungan)/kerugian yang
belum direalisasi atas Unrealized (gains)/losses -
perubahan nilai wajar from changes in fair value
efek-efek dan Obligasi of marketable securities
Pemerintah - neto (47.582) 1.050 (106.154) 5.721 - (146.965) and Government Bonds-net
- Imbalan kerja karyawan yang
masih harus dibayar 501.280 (10.639) 20.116 (81.443) - 429.314 Accrued employee benefits -
- Penyusutan aset tetap 18.144 7.315 - 1.008 - 26.467 Depreciation of fixed assets -
- Lain-lain (46.836) (9.047) (1.051) 14.565 - (42.369) Others -
neto 2.324.500 230.006 (87.089) (373.963) 397.793 2.491.247 net
644


d. Aset pajak tangguhan (lanjutan) d. Deferred tax assets (continued)
2021
Dikreditkan/
(dibebankan)
Dikreditkan/ ke penghasilan Dampak
(dibebankan) komprehensif lain/ perubahan
ke laba rugi/ Credited/ tarif pajak/
Credited/ (charged) Effect of 31
1 Januari/ (charged) to other changes in tax Desember/
January to profit or loss comprehensive income rate December

- Cadangan Allowance for other-
piutang lain-lain 117.614 (65.555) - 6.043 58.102 receivables
- Penyusutan aset tetap (23.403) (1.281) - (1.682) (26.366) Depreciation of fixed assets -
yang masih harus dibayar 230.039 18.448 (30.009) 13.531 232.009 Benefits and others
- Promosi 75.446 (19.072) - - 56.374 Promotion -
- Bagian efektif atas perubahan Effective portion on -
nilai wajar instrumen fair value changes of
derivatif untuk lindung derivative instruments for
nilai arus kas 61.171 - (43.897) - 17.274 cash flow hedge
- Lain-lain 2.529 1.829 - - 4.358 Others -
neto 463.396 (65.631) (73.906) 17.892 341.751 net
2020
Dikreditkan/
(dibebankan)
ke penghasilan Dampak
Dikreditkan/ komprehensif penerapan
(dibebankan) lain/ Dampak awal PSAK
ke laba rugi/ Credited/ perubahan 71/
Credited/ (charged) tarif pajak Effect of
(charged) to other /Effect of initial 31
1 Januari/ to profit or comprehensive changes in tax implementati Desember/
January loss income rate -on PSAK 71 December

- Cadangan Allowance for other-
piutang lain-lain 21.929 70.880 - (13.239) 38.044 117.614 receivables
- Penyusutan aset tetap (19.735) (7.718) - 4.050 - (23.403) Depreciation of fixed assets -
yang masih harus dibayar 347.694 (46.590) (15.812) (55.253) - 230.039 Benefits and others
- Biaya transaksi terkait Transaction cost related to -
perolehan piutang acquisition of consumer
pembiayaan konsumen (75) 66 - 9 - - financing receivables
- Promosi 74.181 10.167 - (8.902) - 75.446 Promotion -
- Bagian efektif atas perubahan Effective portion on -
nilai wajar instrumen fair value changes of
derivatif untuk lindung derivative instruments for
nilai arus kas 51.145 - 10.026 - - 61.171 cash flow hedge
- Lain-lain 88 2.453 - (12) - 2.529 Others -
neto 475.227 29.258 (5.786) (73.347) 38.044 463.396 net
e. Administrasi e. Administration
Sesuai dengan peraturan perpajakan di Indonesia, Under the taxation laws in Indonesia, the Bank and
Bank dan Entitas Anak melaporkan/menyetorkan Subsidiary submit/pay individual corporate tax
pajak untuk setiap perusahaan sebagai suatu returns (income tax reporting on consolidated
badan hukum yang terpisah (pelaporan pajak basis is not allowed) on the basis of self-
penghasilan konsolidasi tidak diperbolehkan) assessment. The tax authorities may assess or
berdasarkan prinsip self-assessment. Fiskus dapat amend taxes within the statute of limitation, under
menetapkan/mengubah pajak-pajak tersebut dalam prevailing regulations. Directorate General of Tax
jangka waktu tertentu sesuai peraturan yang (“DJP”) may assess or amend tax liabilities within
berlaku. Direktur Jendral Pajak (“DJP”) dapat five years since the time the tax becomes due.
menetapkan atau mengubah liabilitas pajak dalam
waktu lima tahun sejak saat terutangnya pajak.
645


28. PINJAMAN SUBORDINASI 28. SUBORDINATED LOAN
Rincian pinjaman subordinasi pada tanggal The details of subordinated loan as of

31 Desember 2021 dan 2020, sebagai berikut: 31 December 2021 and 2020 is as follow:
2021 2020
MUFG Bank, Ltd. 25.000 25.000 MUFG Bank, Ltd.
Pada tanggal 27 November 2018, Bank melakukan On 27 November 2018, the Bank entered into a
perjanjian pinjaman subordinasi dengan MUFG Bank, subordinated loan agreement amounting to Rp25,000
Ltd., pihak berelasi, senilai Rp25.000 dengan tingkat suku with MUFG Bank, Ltd., a related party, with a fixed
bunga tetap sebesar 9,27% per tahun. Pinjaman interest rate of 9.27% per annum. The subordinated
subordinasi tersebut telah dicairkan seluruhnya dari loan was fully disbursed from MUFG Bank, Ltd. on
MUFG Bank, Ltd. pada tanggal 4 Desember 2018. 4 December 2018. The subordinated loan were used to
Pinjaman subordinasi tersebut dilakukan untuk fulfill the requirements of recovery plan according to
memenuhi persyaratan rencana aksi (recovery plan) POJK No.14/POJK.03/2017 concerning the Recovery
sesuai POJK No.14/POJK.03/2017 tentang Rencana Plan for Systemic Banks. The subordinated loan will
Aksi (Recovery Plan) bagi Bank Sistemik. Pinjaman akan mature in 5 years from the loan disbursement date. The
jatuh tempo dalam 5 tahun sejak tanggal pencairan. subordinated loan cannot be early terminated or repaid
Pinjaman subordinasi ini tidak dapat dilunasi sebelum before its maturity date without obtaining prior approval
tanggal jatuh tempo tanpa mendapat persetujuan terlebih from OJK.
dahulu dari OJK.
Sesuai surat OJK No.S-85/PB.32/2018 tanggal As per OJK’s letter No.S-85/PB.32/2018 dated
23 Oktober 2018, OJK memberikan persetujuan 23 October 2018, OJK approved the subordinated loan
pelaksanaan pinjaman subordinasi untuk diperhitungkan to be included as part of capital components and as part
sebagai komponen modal dan menjadi bagian dari of the Bank’s obligation in the Bank’s Recovery Plan for
kewajiban Bank dalam Rencana Aksi Bank untuk tahun 2018, subject to the Bank fulfilling all requirements as
2018 setelah Bank memenuhi seluruh persyaratan yang stated in the letter. The Bank per its letter to OJK
disebutkan dalam surat OJK tersebut. Bank melalui surat No.042/TRS/1218 dated 6 December 2018, has
yang ditujukan kepada OJK No.042/TRS/1218 tanggal confirmed that all requirements stipulated by OJK have
6 Desember 2018, telah mengkonfirmasikan bahwa been fulfilled.
seluruh persyaratan yang ditetapkan OJK tersebut telah
dipenuhi.
Perjanjian pinjaman subordinasi ini memuat pembatasan The subordinated loan agreement has negative
yang tidak boleh dilakukan Bank sebagai berikut: covenants as follows:
1. Mengubah bidang usaha utama Bank. 1. Change the main business of the Bank.
2. Mengurangi modal dasar, modal ditempatkan dan 2. Reduce the authorized capital, issued capital
modal disetor, kecuali jika pengurangan tersebut and paid-up capital, except if the reduction is
dilakukan atas dasar permintaan atau perintah done based on the request or order from the
dari regulator yang memiliki kewenangan untuk regulator which is capable to do so in
melakukan hal tersebut sesuai dengan ketentuan accordance with prevailing law.
hukum yang berlaku.
Pada tanggal 31 Desember 2021, Bank telah memenuhi As of 31 December 2021, the Bank has complied with
seluruh persyaratan yang disebutkan dalam perjanjian all the requirements mentioned in the subordinated loan
pinjaman subordinasi. agreement.
646

29. BEBAN YANG MASIH HARUS DIBAYAR DAN 29. ACCRUALS AND OTHER LIABILITIES
LIABILITAS LAIN-LAIN
2021 2020
Pendapatan diterima dimuka 3.991.169 4.263.381 Unearned income

Beban yang masih harus dibayar 2.249.205 2.399.509 Accrued expenses
Cadangan imbalan kerja Provision for employee
karyawan (Catatan 43) 2.075.331 2.108.362 benefits (Note 43)
Utang bunga 279.420 449.912 Interest payables
Utang kepada dealer 201.111 259.011 Payable to dealers
Liabilitas sewa 200.650 244.063 Lease liabilities
Pembelian efek-efek yang Accrued purchase of
masih harus dibayar 137.971 361.418 marketable securities
Dana setoran 120.797 219.899 Temporary fund
Kerugian Kredit Ekspektasian -
Transaksi Rekening Expected Credit Losses
Administratif 88.865 117.315 - off Balance Sheet
Pajak final 35.269 58.179 Final tax
Setoran jaminan 9.831 9.475 Security deposits
Utang kepada merchant 3.107 3.363 Payable to merchants
Cadangan biaya lainnya 2.996 3.231 Other provisions
Utang dividen 752 1.109 Dividend payable
Lain-lain 804.892 663.811 Others
10.201.366 11.162.038
Saldo di atas pada tanggal 31 Desember 2021 terdiri atas The above balance as of 31 December 2021 consists of
beban yang masih harus dibayar dan liabilitas lain-lain dalam accruals and other liabilities in Rupiah of Rp10,145,887
Rupiah sebesar Rp10.145.887 dan mata uang asing sebesar and in foreign currencies of Rp55,479 (2020:
Rp55.479 (2020: Rp11.077.701 dan Rp84.337) (Catatan 55). Rp11,077,701 and Rp84,337) (Note 55).
Beban yang masih harus dibayar Accrued expenses
Akun ini termasuk akrual untuk kesejahteraan karyawan This account includes an accrual for employees’ welfare of
sebesar Rp882.610 (2020: Rp766.721), dan sisanya Rp882,610 (2020: Rp766,721) and the remainder
merupakan akrual untuk beban operasional Bank dan Entitas represents accruals in relation to operational costs of the
Anak. Bank and Subsidiaries.
Utang kepada dealer Payable to dealers
Utang kepada dealer merupakan liabilitas Entitas Anak Payable to dealers represents the Subsidiary’s liabilities to
kepada dealer atas nasabah-nasabah yang telah dealers for the approved consumer financing contracts,
memperoleh persetujuan kredit dan pihak dealer telah where the dealers have delivered the vehicles to the
menyerahkan kendaraan yang dibiayai kepada nasabah customers.
tersebut.
Pendapatan diterima dimuka Unearned income
Akun ini termasuk imbalan yang diterima dimuka dari ZAI This account includes upfront fees received from ZAI
sebesar Rp1.494.000 dan diamortisasi selama periode amounted to Rp1,494,000 and amortized over the contract
kontrak (Catatan 20). period (Note 20).
647


29. BEBAN YANG MASIH HARUS DIBAYAR DAN 29. ACCRUALS AND OTHER LIABILITIES (continued)
LIABILITAS LAIN-LAIN (lanjutan)
Pendapatan diterima dimuka (lanjutan) Unearned income (continued)
Selain itu, termasuk juga pendapatan diterima dimuka dari In addition, includes the unearned income, the
PT Asuransi Jiwa Manulife dimana berdasarkan perjanjian collaboration fees received from PT Asuransi Jiwa Manulife
pada tanggal 31 Maret 2020, Bank dan PT Asuransi Jiwa which based on the agreement dated 31 March 2020, the
Manulife setuju untuk memperpanjang collaboration Bank and PT Asuransi Jiwa Manulife agreed to extend their
agreement yang ada dalam mempromosikan dan existing collaboration agreement in promoting and
memperkenalkan produk asuransi PT Asuransi Jiwa introducing insurance products of PT Asuransi Jiwa
Manulife kepada konsumen Bank dan Entitas Anak. Sebagai Manulife to the Bank’s and its Subsidiary’s customers. In
imbal balik, Bank dan Entitas Anak telah menerima return, the Bank and its Subsidiary have received extension
perpanjangan collaboration fee dari PT Asuransi Jiwa collaboration fee from PT Asuransi Jiwa Manulife which is
Manulife yang diakui dalam pendapatan diterima dimuka dan recognized in unearned income and amortized to profit and
diamortisasi ke laba rugi. loss.
30. MODAL SAHAM 30. SHARE CAPITAL
2021
Jumlah saham
ditempatkan dan
disetor penuh/ Persentase
Number of shares kepemilikan/
issued and Percentage Jumlah nominal/
Pemegang saham fully paid of ownership Nominal value Shareholders
Saham Seri A (nilai nominal A Series shares (par value

Rp50.000 (nilai penuh) of Rp50,000 (full amount)
per saham) per share)
Masyarakat (kepemilikan Public (ownership interest
masing-masing dibawah 5%) 22.400.000 0,23% 1.120.000 below 5% each)
Saham Seri B (nilai nominal B Series shares (par value

Rp500 (nilai penuh) of Rp500 (full amount)
MUFG Bank, Ltd. MUFG Bank, Ltd.
(langsung dan tidak langsung) 9.038.053.192 92,47% 4.519.027 (direct and indirect)
masing-masing dibawah 5%) 711.659.222 7,30% 355.832 below 5% each)
Direksi: Board of Directors:
- Honggo Widjojo Kangmasto 260.600 0,00% 130 Honggo Widjojo Kangmasto -
- Herry Hykmanto 350.956 0,00% 175 Herry Hykmanto -
- Heriyanto Agung Putra 207.600 0,00% 103 Heriyanto Agung Putra -
- Rita Mirasari 164.700 0,00% 82 Rita Mirasari -
- Dadi Budiana 272.500 0,00% 136 Dadi Budiana -
- Muljono Tjandra 184.100 0,00% 92 Muljono Tjandra -
9.751.152.870 99,77% 4.875.577
9.773.552.870 100,00% 5.995.577
648

30. MODAL SAHAM (lanjutan) 30. SHARE CAPITAL (continued)
2020
Jumlah saham
ditempatkan dan
disetor penuh/ Persentase
Number of shares kepemilikan/
issued and Percentage Jumlah nominal/
Pemegang saham fully paid of ownership Nominal value Shareholders
Saham Seri A (nilai nominal A Series shares (par value

Rp50.000 (nilai penuh) of Rp50,000 (full amount)
masing-masing dibawah 5%) 22.400.000 0,23% 1.120.000 below 5% each)
Saham Seri B (nilai nominal B Series shares (par value

Rp500 (nilai penuh) of Rp500 (full amount)
MUFG Bank, Ltd. MUFG Bank, Ltd.
(langsung dan tidak langsung) 9.038.053.192 92,47% 4.519.027 (direct and indirect)
masing-masing dibawah 5%) 711.627.422 7,30% 355.814 below 5% each)
Direksi: Board of Directors:
- Michellina Laksmi Triwardhany 286.500 0,00% 143 Michellina Laksmi Triwardhany -
- Honggo Widjojo Kangmasto 81.800 0,00% 41 Honggo Widjojo Kangmasto -
- Herry Hykmanto 254.656 0,00% 127 Herry Hykmanto -
- Adnan Qayum Khan 307.000 0,00% 154 Adnan Qayum Khan -
- Heriyanto Agung Putra 141.200 0,00% 71 Heriyanto Agung Putra -
- Rita Mirasari 122.800 0,00% 61 Rita Mirasari -
- Dadi Budiana 176.000 0,00% 88 Dadi Budiana -
- Muljono Tjandra 102.300 0,00% 51 Muljono Tjandra -
9.751.152.870 99,77% 4.875.577
9.773.552.870 100,00% 5.995.577
MUFG Bank, Ltd. merupakan entitas anak yang sepenuhnya MUFG Bank, Ltd. is wholly-owned subsidiary of Mitsubishi
dimiliki oleh Mitsubishi UFJ Financial Group, Inc. yang UFJ Financial Group, Inc. which is based in Japan.
berkedudukan di Jepang.
31. TAMBAHAN MODAL DISETOR 31. ADDITIONAL PAID-IN CAPITAL
Tambahan modal disetor terdiri dari: Additional paid-in capital consists of:
2021 2020
Agio saham 7.546.140 7.546.140 Additional paid-in capital
Biaya emisi efek ekuitas (154.384) (154.384) Share issuance costs
Adjustment on additional
Penyesuaian agio saham (135.432) (135.432) paid-up capital
Penyesuaian agio saham - efek Adjustment on additional
penggabungan usaha paid-up-capital - effect of merger
dengan BNP 729.647 729.647 with BNP
Total 7.985.971 7.985.971 Total
649


32. PENGGUNAAN LABA BERSIH 32. APPROPRIATION OF NET INCOME
Penggunaan laba bersih untuk dua tahun buku terakhir The appropriation of net income for the last two financial
adalah sebagai berikut: years is as follows:
Laba bersih untuk tahun buku/

Net income for financial year
2020 2019
Pembagian dividen tunai 352.630 1.833.030 Distribution of cash dividend
dan wajib 10.076 40.734 and legal reserve
Saldo laba 644.908 2.199.689 Retained earnings
1.007.614 4.073.453
Rapat Umum Pemegang Saham Tahunan (“RUPS The Annual General Meeting of Shareholders (“Annual
Tahunan”) yang diadakan pada tanggal 30 April 2021, GMS”) which was held on 30 April 2021, approved the total
memutuskan pembagian total dividen tunai untuk tahun buku cash dividend distribution for the 2020 financial year of 35%
2020 sebesar 35% dari laba bersih atau sejumlah kurang of the net profit or in the amount of approximately
lebih Rp352.665 atau Rp36,08 (nilai penuh) per saham seri Rp352,665 or Rp36.08 (full amount) per share for series A
A dan seri B dan pembentukan cadangan umum dan wajib and series B shares and the allocation for general and legal
sebesar Rp10.076. reserve in the amount of Rp10,076.
Berdasarkan Daftar Pemegang Saham tanggal 17 Mei 2021 Based on the Shareholders Registry as of 17 May 2021
yang merupakan tanggal pencatatan daftar pemegang whereby shareholders registered as of that date are entitled
saham yang berhak atas dividen, jumlah saham yang to the dividends, the total number of issued shares as of
beredar pada tanggal 17 Mei 2021 adalah 9.773.552.870 17 May 2021 was 9,773,552,870 shares, therefore, the
saham, sehingga dividen per saham yang dibagikan pada dividends distributed on 3 June 2021 amounted to Rp36.08
tanggal 3 Juni 2021 adalah sebesar Rp36,08 (full amount) per share for series A and series B shares or
(nilai penuh) per saham seri A dan seri B atau jumlah dividen total cash dividends of Rp352,630.
tunai adalah sebesar Rp352.630.
Rapat Umum Pemegang Saham Tahunan (“RUPS The Annual General Meeting of Shareholders (“Annual
Tahunan”) yang diadakan pada tanggal 23 Maret 2020, GMS”) which was held on 23 March 2020, approved the
memutuskan pembagian total dividen tunai dan dividen total cash dividend and additional dividend distribution for
tambahan untuk tahun buku 2019 sebesar 45% dari laba the 2019 financial year of 45% of the net profit or in the
bersih atau sejumlah kurang lebih Rp1.833.054 atau amount of approximately Rp1,833,054 or Rp187.55 (full
Rp187,55 (nilai penuh) per saham seri A dan seri B dan amount) per share for series A and series B shares and the
pembentukan cadangan umum dan wajib sebesar allocation for general and legal reserve in the amount of
Rp40.734. Rp40,734.
Berdasarkan Daftar Pemegang Saham tanggal 3 April 2020 Based on the Shareholders Registry as of 3 April 2020
yang merupakan tanggal pencatatan daftar pemegang whereby shareholders registered as of that date are entitled
saham yang berhak atas dividen, jumlah saham yang to the dividends, the total number of issued shares as of
beredar pada tanggal 3 April 2020 adalah 9.773.552.870 3 April 2020 was 9,773,552,870 shares, therefore, the
saham, sehingga dividen per saham yang dibagikan pada dividends distributed on 24 April 2020 amounted to
tanggal 24 April 2020 adalah sebesar Rp187,55 Rp187.55 (full amount) per share for series A and series B
(nilai penuh) per saham seri A dan seri B atau jumlah dividen shares or total cash dividends of Rp1,833,030.
tunai adalah sebesar Rp1.833.030.
650

33. CADANGAN UMUM DAN WAJIB 33. GENERAL AND LEGAL RESERVES
Pada tanggal 31 Desember 2021, Bank telah membentuk As of 31 December 2021, the Bank had general and legal
cadangan umum dan wajib sebesar Rp480.094 (2020: reserves of Rp480,094 (2020: Rp470,018). This general
Rp470.018). Cadangan umum dan wajib ini dibentuk and legal reserve was provided in relation with regarding
sehubungan dengan mengenai Perseroan Terbatas, yang the Limited Liability Company which requires companies to
mengharuskan perusahaan-perusahaan untuk membuat set up a general reserve amounting to at least 20% of the
penyisihan cadangan umum sebesar sekurang-kurangnya issued and fully paid share capital. There is no timeline over
20% dari jumlah modal yang ditempatkan dan disetor penuh. which this amount should be provided.
Undang-undang tersebut tidak mengatur jangka waktu untuk
membentuk cadangan tersebut.
34. PENDAPATAN BUNGA 34. INTEREST INCOME
2021 2020
Pinjaman yang diberikan 8.693.542 9.426.155 Loans
Pendapatan pembiayaan konsumen 6.688.721 8.302.378 Consumer financing income
Obligasi Pemerintah 1.581.710 1.030.927 Government Bonds
Marketable securities and
Efek-efek dan tagihan lainnya 649.319 1.009.526 other bills receivable
Penempatan pada bank lain Placements with other banks
dan BI 135.712 318.569 and BI
17.749.004 20.087.555
Pendapatan bunga berdasarkan klasifikasi aset keuangan Interest income based on the classification of financial
adalah sebagai berikut: assets is as follows:
2021 2020
Biaya perolehan diamortisasi 15.923.496 18.728.466 Amortized cost
Nilai wajar melalui Fair value through other
penghasilan komprehensif lain 1.639.543 1.310.974 comprehensive income
Nilai wajar melalui
laporan laba rugi 185.965 48.115 Fair value through profit or loss
17.749.004 20.087.555
Untuk tahun yang berakhir pada tanggal 31 Desember 2021, For the year ended 31 December 2021, the amortization
amortisasi dari beban yang terkait langsung dari perolehan of costs directly incurred in acquiring customers
nasabah (“biaya transaksi”) sebesar Rp596.669 disajikan (“transaction cost”) amounting to Rp596,669 was
sebagai pengurang dari pendapatan bunga (2020: recorded as a deduction from interest income (2020:
Rp758.810). Rp758,810).
35. BEBAN BUNGA 35. INTEREST EXPENSE
2021 2020
Simpanan nasabah Deposits from customers
- Giro 363.478 536.207 Current accounts -
- Tabungan 575.365 811.249 Savings -
Pinjaman yang diterima dan Borrowings and deposits
simpanan dari bank lain 615.180 1.086.900 from other banks
Efek yang diterbitkan 601.294 906.826 Securities issued
Beban asuransi penjaminan Deposit insurance guarantee
simpanan 245.084 237.587 expense
4.001.782 6.363.892

651


36. PENDAPATAN DAN BEBAN PROVISI DAN KOMISI 36. FEES AND COMMISSION INCOME AND EXPENSE
Untuk tahun yang berakhir pada tanggal 31 Desember 2021, For the year ended 31 December 2021, included in fees
termasuk di dalam pendapatan provisi dan komisi adalah and commission income are credit related fees income
pendapatan provisi terkait dengan kegiatan perkreditan amounting to Rp269,263 (2020: Rp261,163) and service
sebesar Rp269.263 (2020: Rp261.163) dan komisi atas jasa commissions amounting to Rp769,550 (2020: Rp694,552).
yang dilakukan sebesar Rp769.550 (2020: Rp694.552).
Termasuk didalam beban provisi dan komisi untuk tahun Included in provision and commissions expense for the
yang berakhir pada tanggal 31 Desember 2021 adalah year ended 31 December 2021 is credit related provision
beban provisi terkait dengan kegiatan perkreditan sebesar expense amounting to Rp124,026 (2020: Rp140,312).
Rp124.026 (2020: Rp140.312).
37. IMBALAN JASA LAIN 37. OTHER FEES
2021 2020
Imbalan administrasi 989.250 963.427 Administration fees
Transaksi kartu kredit 43.039 59.382 Credit card transactions
Transaksi bancassurance 898.332 827.072 Bancassurance transactions
2.085.241 1.979.782
38. (KERUGIAN)/KEUNTUNGAN DARI PERUBAHAN 38. (LOSSES)/GAINS FROM CHANGES IN FAIR VALUE
NILAI WAJAR ATAS INSTRUMEN KEUANGAN OF FINANCIAL INSTRUMENTS AT FAIR VALUE
YANG DIUKUR PADA NILAI WAJAR MELALUI LABA THROUGH PROFIT OR LOSS - NET
RUGI - NETO
2021 2020
Obligasi Pemerintah dan Efek- Trading Government bonds and
efek yang diperdagangkan Marketable securities
(Catatan 8 dan 15) (5.742) 4.818 (Notes 8 and 15)
Instrumen derivatif (Catatan 10) (172.973) 167.041 Derivative instruments (Note 10)
(178.715) 171.859
39. BEBAN UMUM DAN ADMINISTRASI 39. GENERAL AND ADMINISTRATIVE EXPENSES
2021 2020
Beban kantor 1.161.097 1.153.099 Office expenses
Penyusutan aset tetap dan Depreciation of fixed assets and
aset hak guna (Catatan 18) 395.544 458.837 right-of-use assets (Note 18)
Sewa 316.742 222.882 Rental
Beban amortisasi 221.518 200.054 Amortization expenses
Iklan dan promosi 180.003 106.938 Advertising and promotion
Komunikasi 179.740 189.014 Communications
Beban bunga liabilitas sewa 18.885 24.178 Interest expense on lease liabilities
2.518.171 2.406.169

652

40. BEBAN TENAGA KERJA DAN TUNJANGAN 40. SALARIES AND EMPLOYEE BENEFITS
2021 2020
Gaji dan tunjangan lainnya 4.852.643 4.661.097 Salaries and other allowance
Pendidikan dan pelatihan 35.167 38.509 Education and training
5.259.355 5.037.796
Remunerasi Direksi, Dewan Komisaris, dan Komite Audit Remuneration for the Board of Directors, Board of
Bank adalah sebagai berikut: Commissioners, and Audit Committee of the Bank is as
follows:
2021
Tunjangan dan
fasilitas lainnya, bruto/
Gaji, bruto/ Other allowance and
Salaries, gross benefits, gross Jumlah/Total
Direksi 40.569 61.378 101.947 Board of Directors
Dewan Komisaris 10.839 7.093 17.932 Board of Commissioners
Komite Audit 1.200 505 1.705 Audit Committee
52.608 68.976 121.584
2020
Tunjangan dan
Gaji, bruto/ Salaries, Other allowance and
gross benefits, gross Jumlah/Total
Komite Audit 1.379 - 1.379 Audit Committee
50.570 121.485 172.055
Remunerasi Direksi, Dewan Komisaris, dan Komite Audit Remuneration for Board of Directors, Board of
Bank dan Entitas Anak adalah sebagai berikut: Commissioners, and Audit Committee of the Bank and
Subsidiary is as follows:
2021
Tunjangan dan
74.495 100.069 174.564
2020
Tunjangan dan
69.722 154.602 224.324

653


41. PENDAPATAN BUKAN OPERASIONAL 41. NON-OPERATING INCOME
2021 2020
Penerimaan dari asuransi atas Insurance recoveries of loans
pinjaman yang telah dihapusbukukan 13.895 39.749 written off
Keuntungan penjualan aset tetap Gain on sale of fixed assets
(Catatan 18) 6.332 4.798 (Note 18)
107.015 109.547
42. BEBAN BUKAN OPERASIONAL 42. NON-OPERATING EXPENSES
2021 2020
Kerugian atas penjualan aset Loss on disposal of foreclosed
yang diambil alih 89.581 79.537 assets
Biaya transformasi bisnis 37.254 68.139 Business transformation expence
Kerugian penghapusan aset tetap 1.096 2.081 Loss on write-off fixed assets
Kerugian penjualan aset tetap Loss on disposal of fixed assets
(Catatan 18) 167 2.487 (Note 18)
240.914 313.611
43. DANA PENSIUN DAN IMBALAN KERJA LAINNYA 43. PENSION PLAN AND OTHER EMPLOYEE BENEFITS
a. Program pensiun iuran pasti a. Defined contribution pension plan
Bank Bank
Bank menyelenggarakan program pensiun iuran pasti untuk The Bank has a defined contribution pension plan covering
karyawan tetap yang memenuhi syarat yang dikelola dan its qualified permanent employees, which is managed and
diadministrasikan oleh PT Asuransi Jiwa Manulife Indonesia. administered by PT Asuransi Jiwa Manulife Indonesia.
Pada tanggal 31 Desember 2021 dan 2020, iuran yang As of 31 December 2021 and 2020, the employees’ and
dibayarkan oleh karyawan dan Bank masing-masing adalah the Bank’s contributions were 3.75% and 4.25%,
sebesar 3,75% dan 4,25% dari penghasilan dasar karyawan. respectively, of the employees’ basic salaries.
Untuk tahun yang berakhir pada tanggal For the year ended 31 December 2021 dan 2020, the
31 December 2021 dan 2020, imbalan pasti Bank yang diakui Bank’s defined benefit are recognized as “salaries and
sebagai “beban tenaga kerja dan tunjangan” masing-masing employee benefits” amounting to Rp9,590 and Rp10,703,
sebesar Rp9.590 dan Rp10.703. respectively.
Bank mengikut-sertakan seluruh karyawan ke dalam Bank registers all employees into the government program
program pemerintah BPJS Kesehatan yang dimulai pada BPJS Medical starting June 2015 with the employee and
bulan Juni 2015 dengan besar iuran yang dibayarkan oleh the Bank’s contribution at 0.50% and 4.00%, respectively
karyawan dan Bank masing-masing adalah sebesar 0,50% of the employee wages. Employee contribution became
dan 4,00% dari upah karyawan. Besarnya iuran karyawan 1.00% starting July 2015.
berubah menjadi 1,00% mulai bulan Juli 2015.
Bank juga mengikut-sertakan seluruh karyawan kedalam Bank also registered all employees into the government
program pemerintah BPJS Ketenagakerjaan yang dimulai program BPJS Pension starting July 2015 with the
pada bulan Juli 2015 dengan besar iuran yang dibayarkan employee and the Bank’s contribution at 1.00% and 2.00%,
oleh karyawan dan Bank masing-masing adalah sebesar respectively, of the employee wages.
1,00% dan 2,00% dari upah karyawan.
Pada tanggal 31 Desember 2021 dan 2020, ADMF As of 31 December 2021 and 2020, ADMF paid pension
membayar iuran pensiun sebesar 3,00% dari penghasilan costs at 3.00% from the employees’ basic salaries.
dasar karyawan.

654

a. Program pensiun iuran pasti (lanjutan) a. Defined contribution pension plan (continued)
Untuk tahun yang berakhir pada tanggal For the year ended 31 December 2021 and 2020, the
31 Desember 2021 dan 2020, imbalan pasti ADMF yang defined benefit for ADMF recognized as “salaries and
diakui sebagai “beban tenaga kerja dan tunjangan” masing- employee benefits” amounted to Rp21,543 and Rp22,614,
masing sebesar Rp21.543 dan Rp22.614. respectively.
b. Program pensiun manfaat pasti b. Defined benefit pension plan
Bank Bank
Liabilitas atas program pensiun manfaat pasti dan imbalan The liability for defined benefit pension plan and post-
pasca-kerja pada tanggal 31 Desember 2021 dan 2020 employment benefits as of 31 December 2021 and 2020
dihitung oleh perusahaan konsultan aktuaria I Gde Eka was calculated by a licensed actuarial consulting firm I Gde
Sarmaja, FSAI, dengan menggunakan metode Projected- Eka Sarmaja, FSAI, using the Projected-Unit-Credit method.
Unit-Credit.
Nilai yang diakui dalam laporan laba rugi dan penghasilan Amounts recognized in statement of profit or loss and
komprehensif lain atas imbalan pasca-kerja adalah sebagai other comprehensive income in respects of post-
berikut: employment benefits are as follows:
2021 2020
Diakui pada laba rugi Recognized in profit or loss
Beban jasa kini 127.268 109.995 Current service cost
Beban jasa lalu 46.395 (21.136) Past service cost
Beban bunga atas kewajiban 83.978 85.974 Interest on obligation
257.641 174.833
Diakui pada penghasilan Recognized in other

Komprehensif lain comprehensive income
Efek perubahan asumsi demografik - 1.578 Effect of demographic assumption changes
Efek perubahan asumsi keuangan (150.812) 78.874 Effect of financial assumption changes
Efek penyesuaian pengalaman (5.212) 10.982 Effect of experience adjustment
(156.024) 91.434
Jumlah yang diakui di laporan laba Total recognized in statement of profit or
rugi dan penghasilan komprehensif lain 101.617 266.267 loss and other comprehensive income
Perubahan nilai kini kewajiban imbalan pasca kerja adalah The movements of the present value of obligation for
sebagai berikut: post employment benefits are as follows:
2021 2020
Saldo pada awal tahun 1.383.023 1.223.346 Balance at beginning year
Beban jasa lalu 46.395 (21.136) Past service cost
Beban bunga 83.978 85.974 Interest expense
Imbalan yang dibayar (96.701) (106.590) Benefits paid
Pengukuran kembali: Remeasurement:
Perubahan dalam asumsi demografik - 1.578 Change in demographic assumptions
Perubahan dalam asumsi keuangan (150.812) 78.874 Change in financial assumptions
Penyesuaian pengalaman (5.212) 10.982 Experience adjustment
Saldo pada akhir tahun 1.387.939 1.383.023 Balance at end of year
655




b. Program pensiun manfaat pasti (lanjutan) b. Defined benefit pension plan (continued)
Asumsi-asumsi utama yang digunakan dalam Key assumptions used in the above calculation:
perhitungan di atas:
2021 2020
Asumsi ekonomi: Economic assumptions:
- Tingkat diskonto per tahun 6,25% 6,25% Annual discount rate -
6% untuk tahun pertama,

5% untuk tahun selanjutnya/
- Tingkat kenaikan penghasilan 6% for first year, 5% for the Annual basic salary -
dasar per tahun following years 7,00% growth rate
Asumsi demografi: Economic assumptions:

- Tingkat kematian TMI 2019 TMI 2019 Mortality rate -
- Tingkat kecacatan 10% of TMI 2019 10% of TMI 2019 Disability rate -
Tabel berikut menunjukkan sensitivitas atas kemungkinan The following table demonstrates the sensitivity to a
perubahan tingkat suku bunga pasar, dengan variabel lain reasonably possible change in market interest rates, with all
dianggap tetap, terhadap kewajiban imbalan pasca-kerja other variables held constant, of the obligation for post-
dan beban jasa kini pada tanggal 31 Desember 2021 dan employment and current service cost as of 31 December
2020: 2021 and 2020:
2021
Dampak atas kewajiban imbalan pasti/
Impact on defined benefit obligation
Perubahan Kenaikan Penurunan
asumsi/ asumsi/ asumsi/
Change in Increase in Decrease in
assumption assumption assumption
Tingkat diskonto per tahun 100 basis point (70.438) 78.006 Annual discount rate
Tingkat kenaikan penghasilan dasar 100 basis point 78.630 (72.293) Annual salary growth rate
2020
Liabilitas imbalan kerja Bank pada tanggal 31 Desember The Bank’s employee benefits liabilities as of
2021 dan 2020 telah sesuai dengan laporan aktuaris 31 December 2021 and 2020 are in accordance with the
independen tertanggal 19 Januari 2022 dan 15 Januari independent actuarial report dated 19 January 2022 and
2021. 15 January 2021.
656


b. Program pensiun manfaat pasti (lanjutan) b. Defined benefit pension plan (continued)
Liabilitas atas program pensiun manfaat pasti dan imbalan The liability for defined benefit pension plan and post-
pasca-kerja pada tanggal 31 Desember 2021 dan 2020 employment benefits as of 31 December 2021 and 2020
dihitung oleh perusahaan konsultan aktuaria I Gde Eka was calculated by a licensed actuarial consulting firm I Gde
Sarmaja, FSAI, dengan menggunakan metode Projected- Eka Sarmaja, FSAI, using the Projected-Unit-Credit
Unit-Credit. method.
Nilai yang diakui dalam laporan laba rugi dan penghasilan Amounts recognized in statement of profit or loss and
komprehensif lain atas program pensiun imbalan pasti other comprehensive income in respects of the defined
adalah sebagai berikut: benefit plan are as follows:
2021 2020
Diakui pada laba rugi Recognized in profit or loss
107.978 113.451
Diakui pada penghasilan Recognized in other
komprehensif lain comprehensive income
Efek perubahan asumsi demografik - 297 Effect of demographic assumption changes
Efek perubahan asumsi keuangan (166.262) (62.211) Effect of financial assumption changes
Efek penyesuaian pengalaman 29.860 (9.958) Effect of experience adjustment
(136.402) (71.872)
Jumlah yang diakui di laporan laba Total recognized in statement of
rugi dan penghasilan komprehensif profit or loss and other
lain (28.424) 41.579 comprehensive income
Perubahan nilai kini kewajiban imbalan pasca kerja adalah The movements of the present value of obligation for
sebagai berikut: post employment benefits are as follows:
2021 2020
Saldo pada awal tahun 663.069 640.408 Balance at beginning year
Perubahan dalam asumsi demografik - 297 Change in demographic assumptions
Perubahan dalam asumsi keuangan (166.262) (62.211) Change in financial assumptions
Penyesuaian pengalaman 29.860 (9.958) Experience adjustment
Saldo pada akhir tahun 617.090 663.069 Balance at end of year
657




b. Program pensiun manfaat pasti (lanjutan) b. Define benefit pension plan (continued)
Asumsi-asumsi utama yang digunakan dalam Key assumptions used in the above calculation:
perhitungan di atas:
2021 2020
- Tingkat diskonto per tahun 7,25% 6,75% Annual discount rate -
3% untuk tahun pertama,

5% untuk tahun pertama, 5,75% untuk tahun kedua
6% untuk tahun kedua dan ketiga, 9% untuk
dan 7% untuk tahun-tahun tahun-tahun
berikutnya/5% for the first berikutnya/3% for the first
year, 6% for the second year, 5.75% for second
- Tingkat kenaikan penghasilan year, 7% for the following and third year, 9% for the Annual basic salary -
dasar per tahun years following years growth rate
Asumsi demografi: Economic assumptions:

- Tingkat kematian TMI 2019 TMI 2019 Mortality rate -
- Tingkat kecacatan 10% TMI 2019 10% of TMI 2019 Disability rate -
perubahan tingkat suku bunga pasar, dengan variabel lain reasonably possible change in market interest rates, with
dianggap tetap, terhadap liabilitas imbalan pasca-kerja dan all other variables held constant, of the obligation for post-
beban jasa kini Entitas anak pada tanggal 31 Desember employment and current service cost of Subsidiaries as of
2021 dan 2020: 31 December 2021 and 2020:
2021
- Tingkat diskonto per tahun 100 basis point (58.969) 68.002 Annual discount rate -
- Tingkat kenaikan penghasilan dasar 100 basis point 80.529 (70.835) Annual salary growth rate -
2020
- Tingkat diskonto per tahun 100 basis point (71.077) 82.804 Annual discount rate -
- Tingkat kenaikan penghasilan dasar 100 basis point 95.091 (83.007) Annual salary growth rate -
Liabilitas imbalan kerja ADMF pada tanggal-tanggal ADMF’s employee benefits liability as of 31 December
31 Desember 2021 dan 2020 telah sesuai dengan laporan 2021 and 2020 was in accordance with the independent
aktuaris independen tertanggal 18 Januari 2022 dan actuarial report dated 18 January 2022 and 14 January
14 Januari 2021. 2021.
658


c. Imbalan kerja jangka panjang lainnya c. Other long-term employment benefits
Bank Bank
Nilai yang diakui dalam laporan laba rugi atas imbalan kerja Amounts recognized in statement of profit or loss in
jangka panjang lainnya adalah sebagai berikut: respects of the other long-term employment benefits are as
follows:
2021 2020
Diakui pada Laba Rugi Recognized in Profit or Loss
Beban jasa lalu 512 (405) Past service cost
Beban bunga atas kewajiban 1.188 922 Interest on obligation
Pengukuran kembali dari imbalan Remeasurement of other
kerja jangka panjang lain (1.238) 1.166 long term benefits
Jumlah yang diakui di laporan Total recognized in statement of
laba rugi 7.297 7.615 profit or loss
Perubahan nilai kini kewajiban imbalan kerja jangka panjang The movements of the present value of other long-term
lainnya adalah sebagai berikut: employment benefits are as follows:
2021 2020
Beban jasa lalu 512 (405) Past service cost
Beban bunga 1.188 922 Interest expense
Perubahan dalam asumsi demografik - (3) Change in demographic assumptions
Perubahan dalam asumsi keuangan (4.120) 909 Change in financial assumptions
Penyesuaian pengalaman 2.882 260 Experience adjustment
perubahan tingkat suku bunga pasar, dengan variabel lain reasonably possible change in market interest rates, with all
dianggap tetap, terhadap imbalan kerja jangka panjang lainnya other variables held constant, of other long-term
dan beban jasa kini Bank pada tanggal 31 Desember 2021 dan employment benefits and current service cost of Bank as of
2020: 31 December 2021 and 2020:
2021
Tingkat diskonto per tahun 100 basis point (987) 1.070 Annual discount rate
2020
Tingkat diskonto per tahun 100 basis point (909) 993 Annual discount rate
Tingkat kenaikan penghasilan dasar 100 basis point 976 (911) Annual salary growth rate
659




c. Imbalan kerja jangka panjang lainnya (lanjutan) c. Other long-term employment benefits (continued)
Entitas Anak (ADMF) Subsidiary (ADMF)
Nilai yang diakui dalam laporan laba rugi atas imbalan kerja Amounts recognized in statement of profit or loss in respects
jangka panjang lainnya adalah sebagai berikut: of the other long-term employment benefits are as follows:
2021 2020
Diakui pada Laba Rugi Recognized in Profit or Loss
Efek perubahan asumsi Effect of demographic
demografik - (25) assumption changes
Effect of financial
Efek perubahan asumsi keuangan (3.657) (3.055) Assumption changes
Efek penyesuaian pengalaman 4.482 558 Effect of experience adjustment
Jumlah yang diakui di laporan Total recognized in statement of
laba rugi 8.816 5.604 profit or loss
Perubahan nilai kini kewajiban imbalan kerja jangka panjang The movements of the present value of obligation for other
lainnya adalah sebagai berikut: long-term employment benefits are as follows:
2021 2020
Pengukuran kembali atas imbalan
pasca kerja: Remeasurement:
Perubahan dalam asumsi Change in demographic
demografik - (25) assumptions
Perubahan dalam asumsi keuangan (3.657) (3.055) Change in financial assumptions
Penyesuaian pengalaman Experience adjustment on
kewajiban 4.482 558 obligation
perubahan tingkat suku bunga pasar, dengan variabel lain reasonably possible change in market interest rates, with
dianggap tetap, terhadap imbalan kerja jangka panjang all other variables held constant, of other long-term
lainnya dan beban jasa kini Entitas Anak pada tanggal employment benefits and current service cost of
31 Desember 2021 dan 2020: Subsidiaries as of 31 December 2021 and 2020:
2021
Tingkat kenaikan penghasilan Annual salary growth
dasar 100 basis point 2.062 (1.912) rate
660


c. Imbalan kerja jangka panjang lainnya (lanjutan) c. Other long-term employment benefits (continued)
Entitas Anak (ADMF) (lanjutan) Subsidiary (ADMF) (continued)
2020
Tingkat kenaikan penghasilan Annual salary growth
dasar 100 basis point 2.226 (2.095) rate
Bank dan Entitas Anak Bank and Subsidiaries
Tabel berikut ini adalah perubahan liabilitas imbalan pasca The following table shows the movements of the post
kerja Bank dan Entitas Anak untuk tahun yang berakhir employment benefits liability of the Bank and Subsidiaries
pada tanggal 31 Desember 2021 dan 2020: For the year ended 31 December 2021 and 2020:
2021 2020
Saldo awal 2.108.362 1.918.252 Beginning balance
Beban tahun berjalan - neto 381.732 301.503 Current year expenses - net
Penghasilan komprehensif lain Other comprehensive income
selama tahun berjalan (292.426) 19.562 during the year
Pembayaran kepada karyawan (122.337) (130.955) Payment to employees
Liabilitas yang diakui di laporan Liability recognized in consolidated
posisi keuangan konsolidasian 2.075.331 2.108.362 statement of financial position
Rata-rata durasi dari liabilitas imbalan pasca-kerja adalah The average of duration of the obligation for
5,65 tahun – 10,53 tahun (2020: 6,44 tahun - 11,88 tahun). post-employment benefits is 5.65 years – 10.53 years
(2020: is 6.44 years - 11.88 years).
44. PROGRAM KOMPENSASI JANGKA PANJANG 44. LONG-TERM COMPENSATION PROGRAM
Bank telah meluncurkan Program Insentif Jangka Panjang The Bank has launched the new Long-Term Incentive
(“LTIP”) berupa program retensi dalam bentuk kas yang Program (“LTIP”) as a retention program in the form of cash
diberikan kepada Senior Executive secara selektif dan telah which was awarded to the Senior Executives selectively
diberikan masing-masing pada tanggal 23 Desember 2019 and has been granted on 23 December 2019 with 3 years
dengan masa tunggu 3 tahun. vesting period.
Sebagai bagian dari program retensi berkelanjutan, Bank As part of continuous retention program, the Bank has
kembali meluncurkan program serupa, pada tanggal launched a similar program on 15 December 2020, with
15 Desember 2020 dengan jangka waktu 3 tahun dan 3 years period and the payment will be done 100% in the
pembayaran akan dilakukan 100% di tahun ketiga. third year.
Kemudian pada tanggal 15 Desember 2021, Bank kembali Then on 15 December 2021, the Bank has launched a
meluncurkan program serupa dengan jangka waktu 3 tahun similar program with 3 years period and the payment will
dan permbayaran akan dilakukan 100% di tahun ketiga. be done 100% in the third year.
Untuk tahun yang berakhir pada tanggal For the year ended 31 December 2021 the amount
31 Desember 2021 jumlah yang telah dicatat ke laba rugi recorded in profit and loss amounted to Rp61,988 (2020:
tahun berjalan adalah sebesar Rp61.988 (2020: Rp79.407). Rp79,407).
661




45. LABA BERSIH PER SAHAM DASAR YANG 45. BASIC EARNINGS PER SHARE ATTRIBUTABLE TO
DIATRIBUSIKAN KEPADA PEMILIK ENTITAS INDUK EQUITY HOLDERS OF THE PARENT ENTITY
Laba bersih per saham dasar dihitung dengan membagi laba Basic earnings per share is calculated by dividing net
bersih dengan rata-rata tertimbang jumlah saham biasa yang income by the weighted average number of ordinary
beredar pada tahun bersangkutan. shares outstanding during the year.
2021 2020
Laba bersih yang diatribusikan Net income attributable to equity

kepada pemilik entitas induk 1.573.113 1.007.614 holders of the parent entity
Rata-rata tertimbang jumlah Weighted average number of
saham biasa yang beredar 9.773.552.870 9.773.552.870 ordinary shares outstanding
Laba bersih per saham dasar
yang diatribusikan Basic earnings per share
kepada pemilik entitas induk attributable to equity holders
(nilai penuh) 160,96 103,10 of the parent entity (full amount)
Laba bersih per saham dasar dan dilusian adalah sama, Basic and diluted earnings per share are the same,
karena Bank tidak memiliki potensi dilutif atas saham yang because the Bank does not have dilutive effect of issued
telah dikeluarkan. share.
46. KOMITMEN DAN KONTINJENSI 46. COMMITMENTS AND CONTINGENCIES
2021 2020
Liabilitas komitmen Commitment liabilities
- Fasilitas kredit kepada debitur Unused loan facilities to -
yang belum digunakan 258.738 260.033 debtors
- Irrevocable letters of credit Outstanding irrevocable -
yang masih berjalan 1.781.586 1.067.395 letters of credit
Jumlah liabilitas komitmen 2.040.324 1.327.428 Total commitment liabilities
Tagihan kontinjensi Contingent receivables

- Garansi dari bank lain 412.047 229.299 Guarantee from other banks -
Jumlah tagihan kontinjensi 412.047 229.299 Total contingent receivables
Liabilitas kontinjensi Contingent liabilities

- Garansi yang diterbitkan Guarantees issued in the -
dalam bentuk: form of:
- Garansi bank 4.964.752 4.874.531 Bank guarantees -
- Standby letters of credit 408.708 182.967 Standby letters of credit -
Jumlah liabilitas kontinjensi 5.373.460 5.057.498 Total contingent liabilities
Liabilitas kontinjensi - neto 4.961.413 4.828.199 Contingent liabilities - net
Liabilitas komitmen dan Commitment liabilities and

kontinjensi - neto 7.001.737 6.155.627 contingent liabilities - net
662


46. KOMITMEN DAN KONTINJENSI (lanjutan) 46. COMMITMENTS AND CONTINGENCIES (continued)
Liabilitas komitmen Commitment liabilities
2021 2020
Rupiah Rupiah
Irrevocable letters of credit Outstanding irrevocable
yang masih berjalan: letters of credit:
- L/C dalam negeri 190.055 126.978 Domestic L/C -
Fasilitas kredit kepada debitur Unused loan facilities
yang belum digunakan 258.738 260.033 to debtors
448.793 387.011
Irrevocable letters of credit Outstanding irrevocable
yang masih berjalan: letters of credit:
- L/C dalam negeri 23.375 23.126 Domestic L/C -
- L/C luar negeri 1.568.156 917.291 Foreign L/C -
1.591.531 940.417
Jumlah 2.040.324 1.327.428 Total
b. Berdasarkan kolektibilitas BI b. By BI collectability
2021 2020
Lancar 2.036.081 1.326.599 Current
Dalam perhatian khusus 4.243 829 Special mention
Jumlah 2.040.324 1.327.428 Total
Liabilitas kontinjensi Contingent liabilities
2021 2020
Rupiah Rupiah
Garansi yang diterbitkan Guarantees issued in the
- Garansi bank 4.780.095 4.661.901 Bank guarantees -
5.084.160 4.821.652
Garansi yang diterbitkan Guarantees issued in the
- Garansi bank 184.657 212.630 Bank guarantees -
289.300 235.846
Jumlah 5.373.460 5.057.498 Total
2021 2020
Lancar 5.371.629 5.056.288 Current
Dalam perhatian khusus 900 637 Special mention
Diragukan 931 573 Doubtful
Jumlah 5.373.460 5.057.498 Total
663




46. KOMITMEN DAN KONTINJENSI (lanjutan) 46. COMMITMENTS AND CONTINGENCIES (continued)
Liabilitas kontinjensi (lanjutan) Contingent liabilities (continued)
Selain itu, Bank menghadapi berbagai kasus hukum In addition, the Bank is a party to various unresolved legal
yang belum terselesaikan, tuntutan administrasi, dan actions, administrative proceedings, and claims in the
gugatan sehubungan dengan kegiatan usaha Bank. ordinary course of its business. It is not possible to predict
Tidak memungkinkan bagi Bank untuk memperkirakan with certainty whether or not the Bank will ultimately be
dengan pasti apakah Bank akan berhasil dalam setiap successful in any of these legal matters or, if not, what the
kasus hukum tersebut, atau jika tidak, dampak yang impact might be.
mungkin timbul.
47. INFORMASI MENGENAI PIHAK BERELASI 47. RELATED PARTIES INFORMATION

Pihak berelasi/ Sifat dari hubungan/ Sifat dari transaksi/
Related parties*) Nature of relationship Nature of transaction
Komisaris, direksi, dan personil Pengawas, pengurus dan karyawan Pinjaman yang diberikan dan remunerasi/Loans
manajemen kunci/Commissioners, kunci/Oversight team, management, and remuneration
directors, and key management and key management personnel
personnel
MUFG Bank, Ltd. Pemegang saham/Shareholder Penempatan dana, simpanan dana, liabilitas
derivatif, utang akseptasi, pinjaman yang diterima,
pinjaman subordinasi dan liabilitas lain-lain/Fund
placements, deposit fund, derivative payable,
acceptance payable, borrowings, subordinated loan
and other liabilities
PT Zurich Asuransi Indonesia Tbk Entitas Asosiasi/Associate Entity Aset lain-lain, simpanan dana, utang obligasi, dan
liabilitas lain-lain/Other assets, deposit fund, bonds
payable, and other liabilities
PT JACCS MPM Finance Indonesia Dimiliki oleh pemegang saham pengendali Simpanan dana dan Pinjaman yang
yang sama dengan MUFG Bank, Ltd. diberikan/Deposit fund and Loans
/Owned by the same controlling
shareholder of MUFG Bank, Ltd.
PT General Integrated Company Dimiliki oleh keluarga Komisaris/Owned by Simpanan dana dan Liabilitas lain-lain/Deposit fund
Commissioner’s family and Other liabilities
Morgan Stanley & Co. International plc Dimiliki oleh pemegang saham pengendali Liabilitas derivatif/Derivative liabilities
yang sama dengan MUFG Bank, Ltd.
Bank of Ayudhya Public Company, Ltd. Dimiliki oleh pemegang saham pengendali Penempatan dana dan simpanan dana/Fund
yang sama dengan MUFG Bank, Ltd. placements and deposit fund
PT Zurich General Takaful Indonesia Dimiliki oleh entitas asosiasi /Owned by Aset lain-lain, simpanan dana dan Liabilitas lain-
associate entity lain/Other assets, deposit fund and other liabilities
PT Guna Dharma Dimiliki oleh pemegang saham pengendali Simpanan dana/Deposit fund
yang sama dengan MUFG Bank, Ltd.
PT Indosat Ooredoo Hutchison Secara tidak langsung merupakan Pihak Simpanan dana/deposit fund
Terkait/Indirectly as a related party
*) Berdasarkan PSAK 7/Peraturan Bank Indonesia *) According to PSAK 7/Bank Indonesia’s Regulation
664


47. INFORMASI MENGENAI PIHAK BERELASI (lanjutan) 47. RELATED PARTIES INFORMATION (continued)
2021 2020
Aset Assets
Current accounts with other
Giro pada bank lain - neto banks - net
Bank of Ayudhya Public Company, Ltd. 140 - Bank of Ayudhya Public Company, Ltd.
176.550 5.208
Persentase terhadap jumlah aset 0,09% 0,00% Percentage to total assets
Pinjaman yang diberikan - neto Loans - net

Komisaris dan karyawan kunci 30.506 25.512 Commissioners and key management
PT JACCS MPM Finance Indonesia - 15.853 PT JACCS MPM Finance Indonesia
30.506 41.365

aset lain-lain Prepayments and other assets
PT Zurich Asuransi Indonesia Tbk 122.570 71.567 PT Zurich Asuransi Indonesia Tbk
PT Zurich General Takaful Indonesia 8.540 - PT Zurich General Takaful Indonesia
131.110 71.567
Liabilitas Liabilities

Giro 676.825 76.370 Current Accounts
Tabungan 180.209 112.940 Savings
Deposito berjangka 105.513 108.771 Time deposits
962.547 298.081
Persentase terhadap jumlah liabilitas 0,65% 0,19% Percentage to total liabilities
Simpanan dari bank lain Deposit for other banks

Bank of Ayudhya Public Company, Bank of Ayudhya Public
Ltd. 445 - Company, Ltd.
65.813 78.494
Utang akseptasi Acceptance payables

665




2021 2020
Liabilitas (lanjutan) Liabilities (continued)
Liabilitas derivatif Derivative liabilities

Morgan Stanley & Co Morgan Stanley & Co
International, Ltd. - 22 International, Ltd.
MUFG Bank, Ltd. - 3 MUFG Bank, Ltd.
- 25
Persentase terhadap jumlah liabilitas - 0,00% Percentage to total liabilities
Utang obligasi Bonds payable

Pinjaman yang diterima Borrowings

MUFG Bank, Ltd. 666.667 - MUFG Bank, Ltd.
Persentase terhadap jumlah liabilitas 0,45% - Percentage to total liabilities
Pinjaman Subordinasi Subordinated Loan

Beban yang masih harus dibayar dan

liabilitas lain-lain Accruals and other liabilities
PT Zurich Asuransi Indonesia Tbk 1.456.013 1.558.561 PT Zurich Asuransi Indonesia Tbk
MUFG Bank, Ltd. 1.159 178 MUFG Bank, Ltd.
PT General Integrated Company 40 96 PT General Integrated Company
1.484.194 1.558.835
Pendapatan dan beban Income and expenses
Pendapatan bunga Interest income

Komisaris, direksi, dan Commissioners, directors, and
personil manajemen kunci 1.866 1.662 key management personnel
PT JACCS MPM Finance Indonesia 508 2.794 PT JACCS MPM Finance Indonesia
MUFG Bank, Ltd. 3 9.895 MUFG Bank, Ltd.
PT General Integrated Company - 62 PT General Integrated Company
2.377 14.413
Persentase terhadap jumlah pendapatan
bunga 0,01% 0,07% Percentage to total interest income
666


2021 2020
Pendapatan dan beban (lanjutan) Income and expenses (continued)
Beban bunga Interest expense
Komisaris, direksi, dan personil Commissioners, directors, and key
manajemen kunci 4.602 8.606 management personnel
PT Indosat Ooredoo Hutchison 4.860 - PT Indosat Ooredoo Hutchison
PT Guna Dharma 60 20 PT Guna Dharma
PT General Integrated Company 5 37 PT General Integrated Company
PT JACCS MPM Finance Indonesia 1 2 PT JACCS MPM Finance Indonesia
57.429 56.097
Persentase terhadap jumlah beban
bunga 1,44% 0,88% Percentage to total interest expense
Imbalan jasa lain Other fees

106.692 74.700
Persentase terhadap jumlah imbalan
jasa lain 5,12% 3,77% Percentage to total other fees
Beban tenaga kerja dan tunjangan Salaries and employee benefits

atas Komisaris, direksi, dan of the Bank’s and Subsidiaries’
personil manajemen kunci Bank Commissioners, directors, and
dan Entitas Anak: key management personnel:
Imbalan kerja jangka pendek 432.167 465.573 Short-term employee benefits
Imbalan pasca-kerja 98.625 136.400 Post-employment benefits
Imbalan kerja jangka Other long-term employee
panjang lainnya 55.538 44.167 benefits
586.330 646.140
Persentase terhadap jumlah beban Percentage to total salaries
tenaga kerja dan tunjangan 11,18% 12,83% and employee benefits
Selama tahun yang berakhir pada tanggal During the year ended 31 December 2021 and 2020, no
31 Desember 2021 dan 2020, tidak terdapat kerugian impairment losses have been recorded on outstanding
penurunan nilai atas saldo transaksi dengan personil balances due from key management personnel, and as of
manajemen kunci, dan pada tanggal 31 Desember 2021 31 December 2021 and 2020, there was no specific
dan 2020 tidak ada penyisihan khusus yang dibuat untuk allowance made for impairment losses on balances with key
kerugian penurunan nilai atas transaksi dengan personil management personnel and their immediate relatives.
manajemen kunci dan kerabat dekat mereka.
Transaksi dengan pihak-pihak berelasi dilakukan dengan Transactions with related parties are conducted with normal
kebijakan harga dan syarat normal, sebagaimana dilakukan pricing policy and conditions similar with those of third
dengan pihak yang tidak berelasi, kecuali pinjaman yang parties, except for loans to the Bank’s employees.
diberikan kepada karyawan Bank.
667




48. KEPENTINGAN NON-PENGENDALI 48. NON-CONTROLLING INTERESTS
Kepentingan non-pengendali atas aset neto Entitas Anak The movements of the non-controlling interests’ share in
adalah sebagai berikut: the net assets of the Subsidiaries are as follows:
2021 2020
Kepentingan non-pengendali Non-controlling interests at
pada awal tahun 467.686 479.861 the beginning of year
Dampak penerapan awal PSAK 71 - (9.051) Effect of initial implementation PSAK 71
Dampak penyesuaian tarif pajak - (244) Impact of tax rate adjsutment
Bagian kepentingan non-pengendali Net income for the year attributable
atas laba bersih tahun berjalan 96.167 81.328 to non-controlling interests
Bagian kepentingan non-pengendali atas Gain/(losses) from effective portion
keuntungan/(kerugian) dari bagian on derivative instruments for
efektif atas instrumen derivatif untuk cash flow hedges attributable to
lindung nilai arus kas 12.342 (5.032) non-controlling interests
Bagian kepentingan non-pengendali Remeasurement of obligation for
atas pengukuran kembali liabilitas post-employment benefits to
imbalan pasca kerja 8.437 4.446 non-controlling interest
Pembagian dividen (40.681) (83.622) Dividend distribution
Kepentingan non-pengendali pada akhir Non-controlling interests at the end of
tahun 543.951 467.686 year
49. INFORMASI SEGMEN OPERASI 49. OPERATING SEGMENT INFORMATION
Informasi yang berkaitan dengan segmen usaha utama Information concerning the main business segments as a
secara konsolidasian disajikan dalam tabel di bawah ini: consolidated entity is set out in the table below:
2021
Retail1) Wholesale2) Jumlah/Total
Hasil Segmen Segment Results

Pendapatan bunga neto 9.395.665 4.351.557 13.747.222 Net interest income
Pendapatan selain bunga 2.098.911 1.892.655 3.991.566 Non-interest income
Jumlah pendapatan
operasional 11.494.576 6.244.212 17.738.788 Total operating income
Beban operasional (8.487.361) (1.073.456) (9.560.817) Operating expenses

Beban atas kredit (5.048.748) (715.404) (5.764.152) Cost of credit
Beban bukan operasional - neto (194.192) 97.547 (96.645) Non-operating expenses - net
Biaya transformasi bisnis yang Unallocated business
tidak dialokasikan - - (37.254) transformation expense
Laba sebelum pajak
penghasilan 2.279.920 Income before income tax
Beban pajak penghasilan (610.640) Income tax expense
Laba bersih 1.669.280 Net income
668


49. INFORMASI SEGMEN OPERASI (lanjutan) 49. OPERATING SEGMENT INFORMATION (continued)
Informasi yang berkaitan dengan segmen usaha utama Information concerning the main business segments as a
secara konsolidasian disajikan dalam tabel di bawah ini consolidated entity is set out in the table below (continued):
(lanjutan):
2021
Aset Segmen: Segment Assets:

Pinjaman yang diberikan, Loans, consumer financing
piutang pembiayaan konsumen, receivables, and investment in
piutang sewa pembiayaan finance leases excluding
tidak termasuk piutang bunga 71.327.559 56.379.952 127.707.511 interest receivables
Aset tresuri - 52.786.622 52.786.622 Treasury assets
71.327.559 109.166.574 180.494.133
Aset yang tidak dapat dialokasi 11.745.565 Unallocated assets

Liabilitas Segmen: Segment Liabilities:

Pendanaan 83.000.656 40.351.159 123.351.815 Funding
Liabilitas tresuri - 11.100.815 11.100.815 Treasury liabilities
83.000.656 51.451.974 134.452.630
Liabilitas yang tidak dapat dialokasi 12.704.010 Unallocated liabilities

Jumlah liabilitas 147.156.640 Total liabilities
2020
Hasil Segmen Segment Results

Pendapatan bunga neto 9.722.848 4.000.815 13.723.663 Net interest income
Pendapatan selain bunga 3.181.353 1.011.021 4.192.374 Non-interest income
Jumlah pendapatan
operasional 12.904.201 5.011.836 17.916.037 Total operating income
Beban operasional (8.113.971) (991.114) (9.105.085) Operating expenses

Beban atas kredit (5.650.703) (889.109) (6.539.812) Cost of credit
Pendapatan dan beban bukan Non-operating income and
operasional - neto (61.113) (74.812) (135.925) Expenses - net
Biaya transformasi bisnis yang Unallocated business
tidak dialokasikan - - (68.139) transformation expense
Laba sebelum pajak
penghasilan 2.067.076 Income before income tax
Beban pajak penghasilan (978.134) Income tax expense
Laba bersih 1.088.942 Net income
669




49. INFORMASI SEGMEN OPERASI (lanjutan) 49. OPERATING SEGMENT INFORMATION (continued)
2020
Aset Segmen: Segment Assets:

Pinjaman yang diberikan, Loans, consumer financing
piutang pembiayaan konsumen, receivables, and investment in
piutang sewa pembiayaan finance leases excluding
tidak termasuk piutang bunga 80.542.772 53.618.206 134.160.978 interest receivables
Aset tresuri - 54.349.184 54.349.184 Treasury assets
80.542.772 107.967.390 188.510.162
Aset yang tidak dapat dialokasi 12.379.906 Unallocated assets

Liabilitas Segmen: Segment Liabilities:

Pendanaan 85.683.713 40.527.490 126.211.203 Funding
Liabilitas tresuri - 17.419.000 17.419.000 Treasury liabilities
85.683.713 57.946.490 143.630.203
Liabilitas yang tidak dapat dialokasi 13.684.366 Unallocated liabilities

Jumlah liabilitas 157.314.569 Total liabilities
1) 1)
Retail terdiri dari usaha kecil dan menengah, bisnis mikro, Retail consists of small, medium enterprise, micro
kartu kredit, syariah, bisnis asuransi, pembiayaan business, credit card, sharia, insurance business,
konsumen, pegadaian, dan perbankan retail. consumer financing, pawn broking, and retail banking.
2) 2)
Wholesale terdiri dari perbankan komersial, korporasi, Wholesale consists of commercial, corporate banking,
institusi keuangan, dan tresuri. financial institution, and treasury.
50. MANAJEMEN RISIKO KEUANGAN 50. FINANCIAL RISK MANAGEMENT
Bank melakukan pengelolaan risiko yang terdiri dari Risiko The Bank implements the risk management which
Kredit, Risiko Pasar, Risiko Likuiditas dan Risiko Operasional consists of Credit Risk, Market Risk, Liquidity Risk and
yang diuraikan pada huruf b sampai dengan huruf e dibawah Operational Risk as described in letter b to letter e stated
ini. Uraian ini menyajikan informasi mengenai eksposur Bank below. The explanation present information about the
terhadap risiko-risiko tersebut termasuk tujuan, kebijakan Bank’s exposure to those risks including the objectives,
dan proses yang dilakukan oleh Bank dalam mengukur dan policies and process which are done by the Bank in
mengelola risiko. Selain itu, Bank juga melakukan measuring and managing the risks. In addition, the Bank
pengelolaan terhadap risiko lainnya, yaitu Risiko Kepatuhan, also manages risk management for other risks, namely
Risiko Stratejik, Risiko Hukum, Risiko Reputasi dan Risiko Compliance Risk, Strategic Risk, Legal Risk, Reputation
terkait dengan Syariah (Risiko Investasi dan Risiko Imbal Risk and Sharia related Risk (Investment Risk and Rate
Hasil). Sedangkan untuk pengelolaan risiko terkait dengan of Return Risk). While for risk management related to
konglomerasi keuangan, risiko yang dikelola termasuk Risiko financial conglomeration, the managed risks include Intra-
Transaksi Intra-Grup. Group Transaction Risk.
Sejak bulan Maret 2020, penyebaran COVID-19 telah Since March 2020, the spread of COVID-19 had a direct
berdampak secara langsung ataupun tidak langsung or indirect impact on the economy in Indonesia.
terhadap perekonomian di Indonesia. Oleh karena itu, Bank Therefore, the Bank conducts strict monitoring on the
melakukan pemantauan secara ketat atas dampak dari impact of COVID-19. The Bank has issued a memo
COVID-19. Bank telah mengeluarkan memo terkait related to the implementation of POJK
pelaksanaan POJK No.11/POJK.03/2020 tentang Stimulus No.11/POJK.03/2020 regarding the National Economic
Perekonomian Nasional sebagai Kebijakan Countercyclical Stimulus as a Countercyclical Policy on the Impact of
Dampak Penyebaran COVID-19. Memo ini berlaku efektif COVID-19. This memo is effective in April 2020 and its
mulai April 2020 dan dampaknya sudah mulai terlihat sejak impact has begun to be seen since end of second
akhir kuartal kedua tahun 2020. quarter of 2020.
670


50. MANAJEMEN RISIKO KEUANGAN (lanjutan) 50. FINANCIAL RISK MANAGEMENT (continued)
Di bulan September 2021, OJK menerbitkan POJK In September 2021, OJK issued POJK
No.17/POJK.03/2021 tentang Perubahan kedua Atas POJK No.17/POJK.03/2021 concerning The Second
No.11/POJK.03/2020 Tentang Stimulus Perekonomian Amendments to POJK No.11/POJK.03/2020 regarding
Nasional Sebagai Kebijakan Countercyclical Dampak the National Economic Stimulus as a Countercyclical
Penyebaran COVID-19. Bank telah melakukan review Policy on the Impact of COVID-19 Spread. The Bank
terhadap dampak dari penerapan POJK has reviewed the impact of POJK No.17/POJK.03/2021,
No.17/POJK.03/2021, dan melakukan update terhadap and updated the related policy of the Bank and
kebijakan Bank dan Entitas Anak terkait pelaksanaan POJK Subsidiary regarding the implementation of that POJK.
tersebut.
Dampak terhadap bisnis Impact on business
Wabah COVID-19 telah dan terus berdampak material The outbreak of COVID-19 has had, and continues to
pada bisnis di seluruh dunia dan lingkungan ekonomi have, a material impact on businesses around the world
tempat berbagai perusahaan beroperasi. Wabah telah and the economic environments in which they operate.
menyebabkan gangguan pada nasabah, pemasok, dan The outbreak has caused disruption to the Bank’s and
staf Bank dan Entitas Anak. Sejumlah wilayah tempat Subsidiary’s customer, suppliers and staff. A number of
kami beroperasi telah menerapkan pembatasan yang jurisdictions in which we operate have implemented
ketat terhadap pergerakan penduduk, yang severe restrictions on the movement of populations,
mengakibatkan dampak signifikan pada kegiatan with a resultant significant impact on economic activity.
ekonomi. Pembatasan ini ditentukan oleh pemerintah These restrictions are being determined by the
wilayah masing-masing, termasuk melalui penerapan governments of individual jurisdictions, including
tenaga darurat. Dampak dari pembatasan ini, termasuk through the implementation of emergency powers. The
pencabutan pembatasan selanjutnya, dapat berbeda dari impacts of these restrictions, including the subsequent
wilayah ke wilayah yang lain. Banyak dari staf Bank dan lifting of restrictions, may vary from jurisdiction to
Entitas Anak terus memberikan layanan penting di jurisdiction. Many of the Bank’s and Subsidiary’s staff
cabang, pusat kontak dan layanan, dan di kantor, has continued to provide critical services in branches,
seluruhnya dengan langkah-langkah keamanan yang contact and service centers, and in offices, all with
ditingkatkan, dan telah melengkapi sebagian besar staf heightened safety measures, and we have equipped the
untuk bekerja secara remote. majority of our staff to work remotely.
Bank dan Entitas Anak juga telah melakukan The Bank and Subsidiary has also made loan
restrukturisasi kredit untuk mendukung nasabah restructured to support personal and business
perseorangan dan bisnis melalui masa-masa sulit ini, customers through these challenging times, including
termasuk penundaan pembayaran, penurunan tingkat payment holidays, decrease in interest rate, and liquidity
suku bunga, dan bantuan likuiditas bisnis untuk relief for businesses facing market uncertainty. These
menghadapi ketidakpastian pasar. Bank juga measures have been well received and we remain
menyelaraskan dengan kebijakan OJK terkait relaksasi responsive to our customers’ changing needs. The
dengan kondisi pandemi. Bank is also aligning with the OJK regulation related to
relaxation during pandemic condition.
Sebuah dampak langsung terhadap finansial dari wabah An immediate financial impact of the outbreak is an
ini adalah peningkatan KKE, didorong oleh pemburukan increase in ECL, driven by deteriorating of debtor
kualitas portfolio debitur dan perubahan kondisi ekonomi portfolio quality and change in the economic during
sesuai kondisi pandemik COVID-19. Wabah ini telah COVID-19 pandemic conditions. The outbreak has led
menyebabkan melemahnya PDB, sebagai salah satu to a weakening in GDP, that it is one of macroeconomic
faktor makroekonomi yang digunakan pada perhitungan factors used for calculation ECL, and the probability of
KKE, dan kemungkinan skenario makroekonomi yang a more adverse macroeconomic scenario for at least the
lebih buruk setidaknya untuk jangka pendek secara short term is substantially higher than pre-pandemic
substansial lebih tinggi daripada periode sebelum period at 31 December 2019. Furthermore, the impact
pandemic yaitu pada 31 Desember 2019. Dampaknya will vary example at sectors of the economy, with
akan berbeda-beda misalkan pada sektor ekonomi, heightened risk to the oil and gas, transport and
dengan risiko yang tinggi pada sektor minyak dan gas, discretionary consumer sectors being observed in the
transportasi dan konsumen diskresioner yang diamati first stages of the outbreak. The impact of the outbreak
pada tahap pertama wabah. Dampak wabah terhadap on the long-term prospects of businesses in these
prospek bisnis jangka panjang di sektor ini tidak pasti dan sectors is uncertain and may lead to significant ECL
dapat menyebabkan beban KKE yang signifikan, yang charges on specific exposures, which may not be fully
mungkin tidak sepenuhnya ditangkap pada teknik captured by ECL modelling techniques.
pemodelan KKE.
671




Dampak terhadap bisnis (lanjutan) Impact on business (continued)
Hingga tahun berjalan wabah COVID-19 masih terus Up to current year, the COVID-19 pandemic still
menyebabkan gangguan pada aktivitas ekonomi secara continue to cause disruption to economic activity
global. Walaupun tidak separah pada tahun 2020, dampak globally. Although it is not as bad as in year 2020, the
negatif dari pandemik masih mempengaruhi bisnis dan adverse impacts from pandemic condition still affects
pendapatan karena volume pinjaman dan transaksi yang business and income due to lower lending and
masih belum bertumbuh normal. transaction volumes.
Metodologi Methodology
Terkait dengan kondisi pandemi Bank dan Entitas Anak In relation to pandemic condition, the Bank and
menyesuaikan skenario makro ekonomi pada metodologi Subsidiary adjust macro economic scenario for ECL
perhitungan KKE. Bank dan Entitas Anak terus mengikuti calculation methodology. The Bank and Subsidiary
metodologi ini dalam menghasilkan rata-rata tertimbang continue to follow this methodology in generating
pada KKE secara konsensus, dengan skenario alternatif consensus probability-weighted ECL, with alternative or
atau tambahan dan penyesuaian manajemen yang additional scenarios and management’s adjustments
melengkapi KKE di mana, menurut manajemen, perkiraan supplementing this ECL where, in management's
konsensus tidak sepenuhnya menangkap tingkat kredit opinion, the consensus forecast does not fully capture
atau peristiwa ekonomi baru-baru ini. the extent of recent credit or economic events.
Hingga tahun berjalan, Bank melakukan pengkinian data- Until the current year, the Bank is updating the data and
data dan penilaian/kajian model pada metodologi assessing/reviewing the model on the ECL calculation
perhitungan KKE untuk menyesuaikan kondisi dan methodology to adjust with current conditions and data
informasi data terkini. information.
Skenario ekonomi terhadap dampak COVID-19 Economic scenarios incorporating the economic
impacts of COVID-19
Wabah COVID-19 telah dan terus memberikan dampak The outbreak of COVID-19 has had, and continues to
material pada bisnis di seluruh dunia dan lingkungan have a material impact on businesses around the world
ekonomi tempat Bank dan Entitas Anak beroperasi. and the economic environments in which the Bank and
Sehubungan dengan hal ini, manajemen telah mencatat Subsidiary operates. In light of this, management has
perluasan yang signifikan dari distribusi perkiraan noted a significant broadening of the distribution of
ekonomi. Mengingat dampak ekonomi yang berubah economic forecasts. Given the rapidly changing
dengan cepat, termasuk tindakan bantuan pemerintah economic impact, including the initiation of substantial
yang substansial serta tindakan dukungan dibanyak government relief actions and support measures in
negara, manajemen telah membuat berbagai penilaian many countries, management has made various
untuk mencerminkan rentang hasil pada tanggal judgements to best reflect the range of outcomes at the
pelaporan dengan sebaik-baiknya. Bank dan Entitas Anak reporting date. The Bank and Subsidiary has formed
telah membentuk tiga skenario ekonomi yang dihasilkan three internally generated economic scenarios
secara internal (baseline, baik dan buruk) berdasarkan (baseline, best and worst) based on the duration and
durasi dan tingkat keparahan dampak ekonomi di severity of economic impacts across various markets,
berbagai pasar, respon fiskal dan kebijakan, serta fiscal and policy responses also change in GDP (gross
perubahan rasio PDB (produk domestik bruto). Skenario domestic product). These COVID-19 scenarios have
COVID-19 ini telah dibuat untuk masing-masing pasar been generated for each of the Bank and Subsidiary key
utama Bank dan Entitas Anak dan telah dihitung markets and its probability have been weighted and
probabilitasnya serta ditambahkan dalam perhitungan included in the calculation of ECL.
KKE.
672


a. Kerangka manajemen risiko a. Risk management framework
Organisasi manajemen risiko Bank melibatkan The organization of the Bank’s risk management
pengawasan dari Dewan Komisaris dan Direksi. involves oversight from the Board of Commissioners
Komite Pemantau Risiko merupakan komite risiko and the Board of Directors. The Risk Oversight
tertinggi di tingkat Dewan Komisaris yang Committee is a highest risk committee at the Board of
bertanggung jawab untuk memberikan pengawasan Commissioners’ level that responsible to oversight
atas pelaksanaan strategi dan kebijakan manajemen the implementation of risk management strategies
risiko serta mengevaluasi pelaksanaan tugas Komite and policies and evaluate the implementation of
Manajemen Risiko dan satuan kerja manajemen duties of the Risk Management Committee and risk
risiko Bank dan Entitas Anak. management working unit in the Bank and
Subsidiaries.
Dewan Komisaris mendelegasikan wewenang The Board of Commissioners delegate authority to the
kepada Direksi untuk mengimplementasikan strategi Board of Directors to implement the risk management
manajemen risiko. Komite Manajemen Risiko strategy. The Risk Management Committee is
dibentuk pada tingkat Direksi dan bertanggungjawab established at the Board of Directors’ level and is
untuk memberikan rekomendasi kepada Direktur responsible in providing recommendation to the
Utama dalam mengembangkan strategi dan President Director to develop the risk management
kebijakan manajemen risiko, mengelola risiko secara strategy and policy, manage overall risk in the Bank
keseluruhan di Bank dan Entitas Anak, serta and Subsidiaries, and improve the implementation of
perbaikan atas pelaksanaan strategi, kebijakan dan strategies, policies and evaluate significant risk
evaluasi atas permasalahan risiko yang signifikan. issues. The Risk Management Committee is chaired
Komite Manajemen Risiko diketuai oleh Direktur by the President Director.
Utama.
Selain itu, sejalan dengan ketentuan OJK perihal In addition, in line with the OJK Regulation on
Manajemen Risiko Terintegrasi untuk Konglomerasi Integrated Risk Management of Financial
Keuangan, Bank juga telah membentuk Komite Conglomeration, the Bank established an Integrated
Manajemen Risiko Terintegrasi yang diketuai oleh Risk Management Committee which is chaired by the
Direktur Integrated Risk dan anggotanya terdiri dari Integrated Risk Director and the members consist of
Direksi yang mewakili Entitas Anak dan Perusahaan Director who represents Subsidiaries and Sister
Terelasi serta Pejabat Eksekutif terkait yang ditunjuk. Companies and related Executive Officers as
Fungsi utama Komite Manajemen Risiko Terintegrasi nominated. The main function of Integrated Risk
adalah memberikan rekomendasi kepada Direksi Management Committee is to provide
Bank sebagai Entitas Utama terkait dengan recommendation to the Bank’s Board of Directors as
penyusunan, perbaikan atau penyempurnaan Main Entity in relation to the preparation,
Kebijakan Manajemen Risiko Terintegrasi improvement or enhancement of the Integrated Risk
berdasarkan hasil evaluasi pelaksanaan, evaluasi Management Policy based on the evaluation of the
atas efektivitas penerapan kebijakan, kerangka dan implementation, evaluation of the effectiveness of the
pedoman manajemen risiko terintegrasi, dan implementation of integrated risk management
penilaian risiko utama yang ada di entitas dan policies, frameworks and guidelines, and assessment
seluruh entitas dalam Konglomerasi Keuangan of key risks in the entities and across entities within
beserta formulasi strategi untuk mengatasi isu risiko Financial Conglomeration including the formulation of
yang ada dan yang diperkirakan akan terjadi. strategies to deal with existing and emerging risk
issues.
673




a. Kerangka manajemen risiko (lanjutan) a. Risk management framework (continued)
Sejalan dengan peraturan OJK dan praktek di industri In line with OJK Regulation and industry best
perbankan, Bank telah membentuk unit kerja Risiko practices, the Bank has established an Integrated
Terintegrasi. Unit kerja Risiko Terintegrasi merupakan Risk working unit. Integrated Risk working unit is an
suatu fungsi manajemen risiko secara terintegrasi yang integrated risk management function by combining
menggabungkan risiko kredit, pasar, likuiditas, dan credit, market, liquidity, and operational risks include
operasional, termasuk risiko teknologi informasi, dan the risk related to information technology, and
keamanan informasi dan data dibawah satu payung. information and data security under one umbrella.
Unit kerja ini dipimpin oleh Direktur Integrated Risk dan This working unit is led by the Integrated Risk Director
didukung penuh oleh para manajer risiko yang and fully supported with experienced risk managers.
berpengalaman. Ini merupakan unit kerja yang terpusat It is a centralized and independent working unit,
dan independen yang secara jelas terlepas dari semua clearly separated with no reporting line or
bisnis dan tidak memiliki tanggung jawab terhadap responsibility to business.
bisnis.
Prinsip pengelolaan risiko oleh Bank dilakukan secara The Bank principles of risk management are
proaktif untuk mendukung tercapainya pertumbuhan implemented proactively to support the achievement
yang sehat. Oleh karenanya, Bank telah memiliki of sustainable growth. Therefore, the Bank has risk
kebijakan manajemen risiko yang sesuai dengan management policy which in line with OJK regulation.
Peraturan OJK. Bank telah melakukan kaji ulang atas The Bank has reviewed the risk management policy.
kebijakan manajemen risiko. Dengan Considering the new structure of Financial
mempertimbangkan struktur Konglomerasi Keuangan Conglomeration where it consist of vertical and
yang baru dimana terdiri dari hubungan vertikal dan horizontal relationship, then the risk management
horizontal, maka kebijakan manajemen risiko untuk policy for the bank and financial conglomeration is
bank dan konglomerasi keuangan dibedakan menjadi 2 differentiated into 2 documents i.e. Risk Management
dokumen, yaitu Kebijakan Manajemen Risiko Bank dan Policy Bank and Consolidated which include the
Konsolidasi yang mencakup kerangka kerja dan framework and implementation of individual and
penerapan manajemen risiko secara individu dan consolidated risk management for Bank and
konsolidasi bagi Bank dan Perusahaan Anak dan Subsidiary, and Integrated Risk Management Policy
Kebijakan Manajemen Risiko Terintegrasi of MUFG Group Financial Conglomeration which
Konglomerasi Keuangan Grup MUFG yang mencakup include the framework and implementation of
kerangka kerja dan penerapan manajemen risiko integrated risk management for Financial
terintegrasi bagi Konglomerasi Keuangan. Bank juga Conglomeration. The Bank also has various risk
memiliki berbagai kebijakan dan prosedur manajemen management policies and procedure to identify and
risiko untuk mengidentifikasi dan menganalisa risiko analyze the risks faced by the Bank, to set
yang dihadapi Bank, menetapkan limit risiko dan appropriate risk limits and controls, and to monitor
pengendalian yang sesuai, serta memonitor risiko dan risks and adherence to limits. These various risk
kepatuhan terhadap limit. Berbagai kebijakan dan management policies and procedures are reviewed
prosedur tersebut ini dikaji ulang secara berkala untuk regularly to reflect changes in market conditions,
mencerminkan perubahan dalam kondisi pasar, products and services offered.
produk, dan jasa yang ditawarkan.
Untuk meningkatkan kesadaran risiko dikalangan To improve risk awareness among employee and
karyawan dan mendukung pertumbuhan Bank, unit support the Bank’s growth, Integrated Risk working
kerja Risiko Terintegrasi telah mengembangkan unit has established Risk Management Academy.
Akademi Manajemen Risiko. Silabusnya terdiri dari The syllabus consists of general Risk Management
pelatihan mengenai Manajemen Risiko secara umum training as well as for each type of risk. This year, all
maupun untuk per masing-masing tipe risiko. Pada training materials have been reviewed and will be
tahun ini, seluruh materi pelatihan telah dikaji ulang dan performed through online classroom and e-learning.
pelatihan akan dilaksanakan secara virtual maupun
melalui e-learning.

674

a. Kerangka manajemen risiko (lanjutan) a. Risk management framework (continued)
Dalam rangka memenuhi Peraturan OJK In order to comply with OJK’s Regulation
No.14/POJK.03/2017, Bank telah membuat dan No.14/POJK.03/2017, the Bank has developed and
melakukan kaji ulang tahunan atas Rencana Aksi reviewed Recovery Plan on annual basis in which the
(“Recovery Plan”) dan dalam hal ini Bank telah Bank has set various recovery options that are
menetapkan berbagai opsi pemulihan yang telah dinilai assessed in terms of feasibility, credibility,
dalam hal kelayakan, kredibilitas, kerangka waktu implementation timeframe and effectiveness in order
implementasi dan efektivitas guna mempertahankan to ensure that the Bank able to survive in facing a
Bank dalam menghadapi serangkaian skenario stress range of severe but plausible stress scenarios.
parah yang mungkin terjadi.
Sesuai dengan POJK No.51/POJK.03/2017 tentang According to POJK No.51/POJK.03/2017 about

Penerapan Keuangan Berkelanjutan Bagi Lembaga Implementation of Sustainable Finance for Financial
Jasa Keuangan, Emiten, dan Perusahaan Publik yang Service Institution, Issuers, and Public Company that
dikeluarkan pada tahun 2017, Bank issued in 2017, the Bank implements the Sustainable
mengimplementasikan Keuangan Berkelanjutan mulai Finance starting from 1 January 2019.
1 Januari 2019.
b. Risiko kredit b. Credit risk
Risiko kredit adalah potensi kerugian finansial yang Credit risk is the potential financial loss which caused
diakibatkan oleh kegagalan dari peminjam atau by the failure of the borrower or counterparty in
counterparty dalam memenuhi kewajibannya sesuai fulfilling its obligations in accordance with the
dengan kesepakatan. Eksposur risiko kredit pada Bank agreement. Credit risk exposure at the Bank primarily
terutama muncul dari kegiatan perkreditan maupun arises from lending activities as well as other activities
aktivitas lainnya seperti pembiayaan perdagangan such as trade finance, treasury and investment.
(trade finance), tresuri dan investasi. Eksposur risiko Credit risk exposure can also increase due to the
kredit juga dapat meningkat karena adanya konsentrasi concentration of credit on certain debtor, geographic
kredit pada debitur, wilayah geografis, produk, jenis region, products, type of financing or business field.
pembiayaan atau lapangan usaha tertentu. Tujuan dari The objective of credit risk management is to control
pengelolaan risiko kredit adalah untuk mengendalikan and manage credit risk exposures within acceptable
dan mengelola eksposur risiko kredit dalam batasan limits in accordance to risk appetite, while optimizing
yang dapat diterima, sekaligus memaksimalkan risk the risk adjusted returns.
adjusted return.
Risiko kredit dikelola melalui penetapan kebijakan- Credit risk is managed through established policies
kebijakan dan proses-proses yang meliputi kriteria and processes covering credit acceptance criteria,
pemberian kredit, origination, persetujuan kredit, credit origination, approval, pricing, monitoring,
penetapan pricing, pemantauan, pengelolaan kredit problem loan management and portfolio
bermasalah dan manajemen portofolio. management.
Untuk memastikan bahwa fungsi Manajemen Risiko To ensure the risk management function has
telah beroperasi secara independen, Bank telah operated independently, the Bank has established
membentuk unit kerja Kredit yang bertugas secara Credit working unit that is independently responsible
mandiri untuk mengelola risiko kredit secara efektif. Unit for managing credit risk effectively. This unit is
ini terpisah dari unit kerja Risiko Terintegrasi. separated from Integrated Risk working unit.
Bank memiliki Kebijakan Risiko Kredit yang merupakan The Bank has a Credit Risk Policy which is the core
kebijakan inti dan kerangka acuan utama dalam policy and main reference framework for the
penerapan pengelolaan risiko kredit. Kebijakan ini, implementation of credit risk management. This
bersama dengan panduan risiko kredit, mengatur policy, together with credit risk guidelines, regulate a
proses pengelolaan risiko secara komprehensif. comprehensive risk management process. All credit
Seluruh kebijakan dan panduan risiko kredit ditinjau risk policies and guidelines are reviewed periodically
secara berkala untuk memenuhi peraturan yang to comply with applicable regulations and adjust to
berlaku serta menyesuaikan dengan tingkat selera the level of risk appetite of the Bank.
risiko Bank.

675



b. Risiko kredit (lanjutan) b. Credit risk (continued)
Bank juga memantau perkembangan portofolio kredit The Bank also closely monitors the performance of its
yang memungkinkan untuk melakukan tindakan loan portfolios, that enable to initiate preventive
pencegahan secara tepat waktu apabila terjadi actions in a timely manner when deterioration is
penurunan kualitas kredit. observed in credit quality.
Kelayakan kredit setiap nasabah dievaluasi untuk The creditworthiness of individual counterparty is
menetapkan batasan kredit yang sesuai. Batas kredit evaluated and appropriate credit limits are
ditetapkan sesuai dengan maksimum eksposur yang established. Credit limits set forth maximum credit
bersedia ditanggung oleh Bank untuk jangka waktu exposures the Bank is willing to assume over
tertentu. Batas kredit juga ditetapkan untuk industri, dan specified period. Credit limits are also established for
produk untuk memastikan diversifikasi risiko kredit yang industries, and products to ensure broad
luas dan menghindari terjadinya ketidakseimbangan diversification of credit risk and to avoid undue
konsentrasi. concentration.
Bank telah membuat Internal Rating atau Scorecard The Bank has established an Internal Rating or
untuk debitur dan dipetakan ke dalam Danamon Rating Scorecard for its borrowers and is mapped to
Scale (DRS), untuk diaplikasikan di semua lini bisnis Danamon’s Rating Scale (DRS) to be applied in all
(portofolio enterprise banking dan retail), kecuali lines of business (enterprise banking and retail
portofolio syariah, yang di gunakan untuk proses kredit, portfolio), except for sharia portfolio, that is used for
portfolio management dan basis perhitungan KKE credit process, portfolio management and the basis
sesuai prinsip-prinsip PSAK 71. for ECL calculation in accordance with the PSAK 71
principles.
Agunan Collateral
Bank menerapkan kebijakan untuk memitigasi risiko The Bank employs policies to mitigate credit risk, by
kredit, antara lain dengan meminta agunan sebagai asking collateral to secure the repayment of loan. The
jaminan pelunasan kredit. Jenis agunan yang dapat collateral types that can be accepted by the Bank are
diterima Bank antara lain adalah uang tunai (termasuk such as: cash (including deposits from customers),
simpanan dari nasabah), tanah dan/atau bangunan, land and/or building, Standby LC/Bank Guarantee
Standby LC/Bank Garansi yang diterima Bank, mesin, received by the Bank, machinery, vehicle, trade
kendaraan bermotor, piutang dagang, bahan receivable, inventory, shares or other marketable
baku/barang dagangan (persediaan), saham atau surat securities. Estimates of fair value of collateral held by
berharga lainnya. Perkiraan nilai wajar dari agunan the Bank is based on the value of collateral assessed
yang digunakan oleh Bank didasarkan pada nilai by internal or external appraisers.
agunan yang dinilai oleh penilai internal atau eksternal.
i. Eksposur maksimum terhadap risiko kredit i. Maximum exposure to credit risk
Untuk aset keuangan yang diakui di laporan posisi For financial assets recognized on the
keuangan konsolidasian, eksposur maksimum consolidated statement of financial position, the
terhadap risiko kredit sama dengan nilai maximum exposure to credit risk equals their
tercatatnya. Untuk liabilitas kontinjensi, eksposur carrying amount. For contingent liabilities, the
maksimum terhadap risiko kredit adalah nilai maximum exposure to credit risk is the
maksimum yang harus Bank bayarkan dalam hal maximum amount that the Bank would have to
timbul kewajiban atas instrumen yang diterbitkan. pay if the obligations of the instruments issued
are called upon.
Untuk komitmen kredit, eksposur maksimum For credit commitments, the maximum
terhadap risiko kredit adalah sebesar jumlah exposure to credit risk is the full amount of the
fasilitas yang belum ditarik dari nilai penuh fasilitas un-drawn committed credit facilities granted to
kredit yang telah disepakati (committed) kepada customers.
nasabah.

676

i. Eksposur maksimum terhadap risiko kredit i. Maximum exposure to credit risk (continued)
(lanjutan)
Tabel berikut menyajikan eksposur maksimum The following table presents the Bank’s maximum
terhadap risiko kredit Bank atas instrumen exposure to credit risk on financial instruments in its
keuangan pada laporan posisi keuangan consolidated statements of financial position and
konsolidasian dan komitmen dan kontinjensi commitments and contingencies (administrative
(rekening administratif), tanpa memperhitungkan accounts), without taking into account any collateral
agunan yang dimiliki atau jaminan kredit lainnya. held or other credit enhancement.
2021 2020
Laporan Posisi Keuangan Consolidated Statements of
Konsolidasian: Financial Position:
Giro pada Bank Indonesia 3.060.014 2.185.998 Current accounts with Bank Indonesia
Giro pada bank lain - neto 2.977.634 4.417.073 Current accounts with other banks - net
dan Bank Indonesia - neto 9.888.484 7.303.551 and Bank Indonesia - net
Efek-efek - neto Marketable securities - net
Nilai wajar melalui laba rugi 4.999 5.208 Fair value through profit or loss
komprehensif lain 3.473.459 3.334.669 comprehensive income
Biaya perolehan diamortisasi 2.035.585 1.349.394 Amortized cost
dijual kembali 3.308.308 12.126.419 resale agreements
Obligasi Pemerintah Government bonds
Nilai wajar melalui laba rugi 1.926.156 2.758.074 Fair value through profit or loss
komprehensif lain 28.411.581 22.776.561 comprehensive income
Tagihan derivatif 187.297 362.482 Derivative receivables
Pinjaman yang diberikan - neto 99.965.961 103.937.018 Loans - net
Piutang pembiayaan konsumen - neto 19.958.199 22.605.362 Consumer financing receivables - net
Piutang sewa pembiayaan - neto 280.613 246.644 Finance lease receivables -net
Tagihan akseptasi - neto 2.058.574 1.592.400 Acceptance receivables - net
Investasi dalam saham 82.078 107.213 Investments in shares
Investasi pada entitas asosiasi 949.009 924.518 Investment in associate
Aset lain-lain - neto 1.131.457 2.201.080 Other assets - net
Total 179.699.408 188.233.664 Total
Komitmen dan Kontinjensi: Commitments and Contingencies:

Fasilitas kredit kepada debitur
yang belum digunakan 258.738 260.033 Unused loan facilities
Irrevocable Letters of Credit Outstanding irrevocable
yang masih berjalan 1.781.586 1.067.395 Letters of Credit
Garansi yang diterbitkan 5.373.460 5.057.498 Guarantees issued
7.413.784 6.384.926
Jumlah 187.113.192 194.618.590 Total

677


i. Eksposur maksimum terhadap risiko kredit i. Maximum exposure to credit risk (continued)
(lanjutan)
Nilai wajar agunan Fair value of collateral
Bank memiliki agunan terhadap pinjaman yang Bank holds collaterals against loans in the form of
diberikan dalam bentuk agunan tunai, aset tetap, cash collaterals, fixed assets and others.
dan lain-lain.
Estimasi nilai terendah dari nilai wajar agunan dan An estimate of the lower of fair value of collateral
jumlah tercatat dari aset keuangan pada tanggal and carrying amounts of the financial assets as of
pelaporan ditampilkan seperti di bawah ini. the reporting date is shown below.
Agunan terhadap pinjaman yang diberikan Collateral of loans
2021 2020
Agunan Tunai 1.745.839 1.689.229 Cash Collateral
Aset Tetap 33.299.799 36.613.362 Fixed Assets
Lain-lain 14.676.068 13.996.899 Others
Jumlah 49.721.706 52.299.490 Total
Atas agunan yang diterima, Bank tidak Bank is not permitted to sell or repledge the
diperkenankan untuk menjual/menjaminkan collateral received.
kembali.
ii. Analisis risiko konsentrasi kredit ii. Concentration of credit risk analysis
Risiko konsentrasi kredit timbul ketika sejumlah Concentrations of credit risk arise when a number
nasabah bergerak dalam aktivitas usaha yang of customers are engaged in similar business
sejenis atau memiliki kegiatan usaha dalam wilayah activities or activities within the same geographic
geografis yang sama, atau memiliki karakteristik region, or when they have similar characteristics.
yang sejenis.
Bank mendorong adanya diversifikasi dari portofolio The Bank encourages the diversification of its
kreditnya pada berbagai wilayah geografis, sektor credit portfolio among a variety of geographic
industri, produk kredit, individual obligor, areas, industries, credit products, individual
mencerminkan profil risiko yang seimbang dan obligors, reflecting a well-balanced and healthy
sehat, dan untuk fokus pada upaya pemasaran risk profile, and to focus marketing efforts toward
terhadap industri dan nasabah yang potensial untuk potential industries and customers in order to
meminimalisir risiko kredit. Bank telah menetapkan minimize the credit risk. The Bank has set its
limit konsentrasi industri yang ditentukan industry concentration limit based on industry risk
berdasarkan tingkat risiko sektor industri, proyeksi level, projection of loan growth and availability of
pertumbuhan kredit dan juga ketersediaan modal. capital.
Diversifikasi portofolio kredit didasarkan rencana The extent of diversification is based on the
strategi bank, sektor target, kondisi ekonomi saat Bank’s strategic plan, target sectors, current
ini, kebijakan pemerintah, sumber pendanaan, dan economic conditions, government policy, funding
proyeksi pertumbuhan. Konsentrasi pinjaman yang sources and growth projections. Concentration of
diberikan berdasarkan jenis kredit, mata uang, credit risk of loans receivable by type of loans,
sektor ekonomi, dan wilayah geografis currency, economic sector, and geographic
diungkapkan pada Catatan 11. region is disclosed in Note 11.

678

ii. Analisis risiko konsentrasi kredit (lanjutan) ii. Concentration of credit risk analysis (continued)
Tabel di bawah ini menyajikan informasi aset The following table presents the financial assets
keuangan pada tanggal 31 Desember 2021 dan as of 31 December 2021 and 2020 based on
2020 berdasarkan tingkat risiko: risk rate:
2021
Grade 26-28:
Grade 1-22: kredit
risiko yang Bermasalah/
dapat Grade 23- Grade 26- Kerugian
diterima/ 25: risiko 28: kredit
Grade 1-22: tinggi/ non- Tidak ekspektasian/
acceptable Grade 23- performing Syariah/ dirating/ Expected Jumlah/
risk 25: high risk loan Sharia Un-rating credit losses Total
Giro pada BI 3.060.014 - - - - - 3.060.014 Current accounts with BI

Giro pada bank lain 2.979.223 - - - - (1.589) 2.977.634 banks
Penempatan pada Placements with other
bank lain dan BI 9.888.507 - - - - (23) 9.888.484 banks and BI
Efek-efek 5.533.732 - - - - (19.689) 5.514.043 Marketable securities
Efek yang dibeli
dengan janji Securities purchased
dijual kembali 3.308.308 - - - - - 3.308.308 under resale agreements
Obligasi Pemerintah 30.337.737 - - - - - 30.337.737 Government Bonds
Tagihan derivatif 187.297 - - - - - 187.297 Derivative receivables
Pinjaman yang
diberikan 86.112.072 9.307.827 2.838.656 7.833.869 - (6.126.463) 99.965.961 Loans
Piutang pembiayaan Consumer financing
konsumen 13.092.551 4.592.046 441.166 3.197.002 - (1.364.566) 19.958.199 receivables
Piutang sewa
pembiayaan 252.635 37.967 1.718 - - (11.707) 280.613 Finance lease receivables
Tagihan akseptasi 2.061.194 - - - - (2.620) 2.058.574 Acceptance receivables
Investasi dalam
saham - - - - 82.078 - 82.078 Investments in shares
Investasi pada
entitas asosiasi - - - - 949.009 - 949.009 Investments in associate
Aset lain-lain - - - - 1.151.538 (20.081) 1.131.457 Other assets
156.813.270 13.937.840 3.281.540 11.030.871 2.182.625 (7.546.738) 179.699.408

679


ii. Analisis risiko konsentrasi kredit (lanjutan) ii. Concentration of credit risk analysis (continued)
2020
Grade 26-28:
Grade 1-22: kredit
risiko yang Grade 23- Bermasalah/
dapat 25: risiko Grade 26- Kerugian
diterima/ tinggi/ 28: kredit
Grade 1-22: Grade 23- non- Tidak ekspektasian/
acceptable 25: high performing Syariah/ dirating/ Expected Jumlah/
risk risk loan Sharia Un-rating credit losses Total
Giro pada BI 2.185.998 - - - - - 2.185.998 Current accounts with BI

Giro pada bank lain 4.418.587 - - - - (1.514) 4.417.073 banks
Penempatan pada Placements with other
bank lain dan BI 7.304.063 - - - - (512) 7.303.551 banks and BI
Efek-efek 4.701.111 - - - - (11.840) 4.689.271 Marketable securities
Efek yang dibeli
dengan janji Securities purchased
dijual kembali 12.126.419 - - - - - 12.126.419 under resale agreements
Obligasi Pemerintah 25.534.635 - - - - - 25.534.635 Government Bonds
Tagihan derivatif 362.482 - - - - - 362.482 Derivative receivables
Pinjaman yang
diberikan 90.739.736 7.518.884 4.152.860 6.980.515 - (5.454.977) 103.937.018 Loans
konsumen 19.136.877 2.217.643 555.601 2.606.457 - (1.911.216) 22.605.362 receivables
Piutang sewa
pembiayaan 235.665 10.875 5.851 - - (5.747) 246.644 Finance lease receivables
Tagihan akseptasi 1.597.504 - - - - (5.104) 1.592.400 Acceptance receivables
Investasi dalam
saham - - - - 107.213 - 107.213 Investments in shares
Investasi pada
entitas asosiasi - - - - 924.518 - 924.518 Investments in associate
Aset lain-lain - - - - 2.236.075 (34.995) 2.201.080 Other assets
168.343.077 9.747.402 4.714.312 9.586.972 3.267.806 (7.425.905) 188.233.664

680

iii. Stress testing iii. Stress testing
Stress testing adalah metode pengukuran risiko Stress testing is a method of risk measurement
dengan memperkirakan potensi kerugian which estimates the potential economic loss to
ekonomi Bank berdasarkan kondisi pasar the Bank under abnormal market conditions in
abnormal untuk memastikan sensitivitas kinerja order to ascertain the sensitivity of the Bank’s
Bank terhadap perubahan faktor risiko dan performance to changes in risk factors and to
mengidentifikasi faktor yang mempengaruhi dan identify influencing factors that significantly
berdampak kepada pendapatan dan modal Bank impact the Bank’s revenue and capital. The
secara signifikan. Bank melaksanakan stress Bank conducts credit stress testing at least
testing kredit setidaknya setiap tahun sebagai annually as a part of ICAAP stress testing or
bagian dari ICAAP stress testing atau lebih sering more often when there is an occurrence of
ketika timbul kejadian peristiwa atau kejadian events that have a significant negative impact
yang memiliki dampak negatif yang signifikan to the Bank’s credit portfolio. Scenarios for
terhadap portofolio kredit Bank. Skenario untuk annual stress testing are defined into three
stress testing tahunan didefinisikan menjadi tiga categories: Mild, Moderate, and Severe based
kategori: Mild, Moderate dan Severe, on the severity of macroeconomic factors used
berdasarkan severity faktor-faktor ekonomi makro in the scenarios (e.g. GDP, inflation, IDR/USD,
yang digunakan dalam skenario (contoh: GDP, etc). In addition to the determined scenarios
inflasi, IDR/USD, dll). Selain skenario yang dibuat based on observed historical events,
berdasarkan kejadian historis yang diamati, Bank hypothetical adverse events and their impact
juga mempertimbangkan kejadian yang are also considered by the Bank. Related to the
berdampak buruk secara hipotetis dan impact of the COVID-19 pandemic, the Bank
dampaknya. Terkait dengan dampak dari also conducts a Thematic credit stress test to
pandemi COVID-19, Bank juga melakukan assess the impact of COVID-19 to the quality of
Thematic stress test kredit untuk menilai dampak loan portfolio, incremental credit losses and
COVID-19 terhadap kualitas portofolio kredit, adequacy of capital.
peningkatan kerugian kredit dan kecukupan
permodalan.

681


iv. Konsentrasi berdasarkan jenis debitur iv. Concentration by type of debtors
Tabel berikut menyajikan konsentrasi aset The following table presents the concentration
keuangan dan komitmen dan kontinjensi of financial assets and commitments and
(rekening administratif) berdasarkan jenis debitur: contingencies (administrative accounts) by
type of debtors:
2021
Pemerintah
dan Bank
Indonesia/
Government
Korporasi/ and Bank Bank-bank/ Retail/ Jumlah/
Corporate Indonesia Banks Retail Total
Giro pada BI - neto - 3.060.014 - - 3.060.014 Current accounts with BI - net

Giro pada bank lain - neto - - 2.977.634 - 2.977.634 banks - net
Penempatan pada bank Placements with other
lain dan BI - neto - 9.859.389 29.095 - 9.888.484 banks and BI - net
Efek-efek - neto 3.965.382 - 1.548.661 - 5.514.043 Marketable securities - net
Efek yang dibeli dengan Securities purchased under
janji dijual kembali - 3.308.308 - - 3.308.308 resale agreements
Obligasi Pemerintah - 30.337.737 - - 30.337.737 Government Bonds
Tagihan derivatif 68.293 - 119.003 1 187.297 Derivative receivables
Pinjaman yang diberikan -
neto 59.291.792 8.413.233 3.702.428 28.558.508 99.965.961 Loans - net
konsumen - neto 623.875 - - 19.334.324 19.958.199 receivables - net
Piutang sewa Finance lease
pembiayaan - neto 229.297 - - 51.316 280.613 receivables - net
Tagihan akseptasi - neto 2.018.985 - 39.589 - 2.058.574 Acceptance receivables - net
Investasi dalam saham 2.380 - 79.698 - 82.078 Investments in shares
Investasi pada entitas
asosiasi 949.009 - - - 949.009 Investments in associate
Aset lain-lain - neto 661.859 228.162 21.908 219.528 1.131.457 Other assets - net
Commitments and
Komitmen dan kontinjensi 6.894.234 - 285.207 234.343 7.413.784 contingencies
Jumlah 74.705.106 55.206.843 8.803.223 48.398.020 187.113.192 Total
% 40% 30% 5% 25% 100% %

682



iv. Konsentrasi berdasarkan jenis debitur (lanjutan) iv. Concentration by type of debtors (continued)
2020
Pemerintah
dan Bank
Indonesia/
Government
Korporasi/ and Bank Bank- bank/ Jumlah/
Corporate Indonesia Banks Retail/ Retail Total
Current accounts with BI

Giro pada BI - neto - 2.185.998 - - 2.185.998 - net
Current accounts with
Giro pada bank lain - neto - - 4.417.073 - 4.417.073 other banks - net
lain dan BI - neto - 7.170.728 132.823 - 7.303.551 banks and BI - net
Efek-efek - neto 3.361.845 - 1.327.426 - 4.689.271 Marketable securities - net
Efek yang dibeli dengan Securities purchased
janji dijual kembali - 12.126.419 - - 12.126.419 Under resale agreements
Obligasi Pemerintah - 25.534.635 - - 25.534.635 Government Bonds
Tagihan derivatif 84.016 - 261.940 16.526 362.482 Derivative receivables
Pinjaman yang diberikan -
neto 61.770.619 6.984.852 4.499.984 30.681.563 103.937.018 Loans - net
konsumen - neto 695.070 - - 21.910.292 22.605.362 receivables - net
pembiayaan - neto 205.205 - - 41.439 246.644 receivables - net
Tagihan akseptasi - neto 1.435.960 5.638 40.466 110.336 1.592.400 Acceptance receivables - net
Investasi dalam saham 2.380 - 104.833 - 107.213 Investments in shares
Investasi pada entitas
asosiasi 924.518 - - - 924.518 Investments in associate
Aset lain-lain - neto 771.161 1.074.494 89.697 265.728 2.201.080 Other assets - net
Commitments and
Komitmen dan kontinjensi 5.161.790 - 151.519 1.071.617 6.384.926 contingencies
Jumlah 74.412.564 55.082.764 11.025.761 54.097.501 194.618.590 Total
% 38% 28% 6% 28% 100% %

683


v. Saling hapus atas aset keuangan dan liabilitas v. Offsetting of financial assets and financial
keuangan liabilities
Aset keuangan dan liabilitas keuangan yang Financial assets and financial liabilities subject
dapat saling hapus sesuai dengan perjanjian to offsetting under enforceable master netting
induk untuk penyelesaian secara neto (master agreements and similar agreements as of
netting agreements) atau perjanjian serupa pada 31 December 2021 and 2020 are as follows:
tanggal-tanggal 31 Desember 2021 dan 2020
2021
Jumlah Jumlah yang tidak di saling
bruto diakui hapus pada laporan posisi
Jumlah saling Jumlah neto keuangan/ Amount not offset
bruto aset/ hapus disajikan in the statement of financial
liabilitas dalam dalam position
keuangan laporan laporan Jaminan
yang diakui/ posisi posisi keuangan
Gross keuangan/ keuangan/ yang di
amount of Gross Amount terima/
recognized amount presented in dijaminkan/
financial offset in the the Instrumen Financial Jumlah
assets/ statement statement of keuangan/ collateral neto/
financial of financial financial Financial received/ Net
liabilities position position instruments pledged amount
Aset Keuangan Financial Assets
Tagihan derivatif 187.297 - 187.297 (24.319) - 162.978 Derivative assets
Liabilitas
Keuangan Financial Liabilities
Liabilitas derivatif 277.212 - 277.212 (24.319) - 252.893 Derivative liabilities
2020
Jumlah Jumlah yang tidak di saling
bruto diakui hapus pada laporan posisi
Jumlah saling Jumlah neto keuangan/Amount not offset in
bruto aset/ hapus disajikan the statement of financial
liabilitas dalam dalam position
keuangan laporan laporan
yang diakui/ posisi posisi Jaminan
Gross keuangan/ keuangan/ keuangan
amount of Gross Amount yang di terima/
recognized amount presented in dijaminkan/
financial offset in the the Instrumen Financial Jumlah
assets/ statement statement of keuangan/ collateral neto/
financial of financial financial Financial received/ Net
liabilities position position instruments pledged amount
Tagihan derivatif 362.482 - 362.482 (17.302) - 345.180 Derivative assets
Liabilitas
Keuangan Financial Liabilities
Liabilitas derivatif 674.240 - 674.240 (17.302) - 656.938 Derivative liabilities

684

Penerapan PSAK71 PSAK71 Implementation
Bank telah menerapkan perhitungan Kerugian Kredit Bank has applied the Expected Credit Loss (ECL)
Ekspektasian (KKE) mengacu pada prinsip-prinsip calculation, referring to the principles of PSAK71 in
PSAK71 sesuai ketentuan regulator, dimana accordance to regulator provision, which calculates
menghitung pencadangan KKE secara forward ECL provisioning in forward looking approach. Bank
looking. Bank menggunakan 2 (dua) Metode uses 2 (two) ECL calculation methods, as follow:
Perhitungan KKE, yaitu:
1) Perhitungan secara Kolektif, yaitu perhitungan 1) Collective calculation, is ECL calculation in

KKE secara portofolio untuk lini bisnis portfolio base for retail/consumer/mass-
retail/consumer/mass-market/auto-finance dan market/auto-finance business lines and some
sebagian portofolio besar. Pada metode ini, Bank large exposure portfolios. In this method,
menggunakan Internal Rating/Scorecard sebagai Bank uses the Internal Rating/Scorecard as
basis dalam penentuan model PD (probability the basis for the of the PD (probability default)
default) untuk masing-masing debitur. Serta Model model for each debtor. Also the LGD/LGD
LGD/LGD Pool mempertimbangkan salah satu Pool Model considers one of components i.e.,
komponennya yaitu, nilai agunan yang diakui recognized collateral value and recovery
berserta pembayaran recovery. Sedangkan EAD payment. While EAD (Exposure at Default) is
(Exposure at Default) merupakan posisi semua including all assets On & Off Balance sheet.
aset On & Off Balance sheet.
2) Perhitungan secara Individu, untuk portofolio besar 2) Individual calculations, for large exposure
dengan kondisi yang mengalami penurunan nilai portfolios with impaired conditions and
dan eksposur diatas Rp10 miliar. Perhitungan ini exposures above Rp10 billion. This
menggunakan pendekatan DCF (Discounted Cash calculation uses the DCF (Discounted Cash
Flow) atau pendekatan agunan (Collateral) yang Flow) or Collateral approach which is
dihitung secara Individu. calculated in individual level.
Sesuai prinsip-prinsip PSAK71, Bank juga menetapkan In accordance with PSAK71 principles, Bank also
kriteria Tahap 1 untuk debitur-debitur dengan kualitas define Stage-1 criteria for debtors with good
portofolio yang baik. Tahap 2 untuk debitur-debitur yang portfolio quality. Stage-2 for debtors under
mengalami kondisi peningkatan Risiko Kredit yang Significant Increase in Credit Risk (SICR)
Signifikan (SICR) dan Tahap 3 untuk debitur-debitur condition and Stage-3 for defaulted debtors with
yang menunggak/default dengan kolektabilitas 3,4,5 collectability 3,4,5 or impaired.
atau mengalami penurunan nilai.
MEV (Macroeconomic Variables), merupakan salah MEV (Macroeconomic Variables), is one of the
satu parameter/komponen pada perhitungan KKE parameters/components for ECL in Forward
secara pendekatan Forward Looking. Bank Looking approach. Bank define the
menetapkan variabesl makro ekonomi secara macroeconomic variables periodically and
berkala dan mengkorelasikan terhadap model-model correlates to PSAK 71 models.
PSAK 71.
Sensitivitas MEV terhadap ECL Sensitivity of MEV to ECL
Perhitungan KKE bergantung pada banyak variable, ECL relies on multiple variables, one of which is
salah satunnya adalah MEV dan juga tergantung MEV and also depends on the portfolio of each
pada portfolio masing-masing segmen. Pada segment. Basically, there is no single analysis can
dasarnya tidak ada analisis tunggal yang dapat fully demonstrate the sensitivity of ECL to
sepenuhnya menunjukkan sensitivitas KKE terhadap changes in the MEVs. The Bank believes that
perubahan dalam MEV. Bank berkeyakinan bahwa sensitivity should be performed to all variables,
sensitivitas harus dilakukan terhadap seluruh not just single variable, as this is in line with the
variabel, bukan hanya variabel tunggal, karena hal ini multi-variable nature of ECL calculations.
sejalan dengan sifat multi-variabel dari perhitungan
ECL.

685


Sensitivitas MEV terhadap ECL (lanjutan) Sensitivity of MEV to ECL (continued)
Bank telah membuat Internal Rating atau Scorecard The Bank has established an Internal Rating or
untuk debitur dan dipetakan ke dalam Danamon Rating Scorecard for its borrowers and is mapped to
Scale (DRS), untuk diaplikasikan di lini bisnis (portofolio Danamon’s Rating Scale (DRS) to be applied in
enterprise banking dan retail), kecuali portofolio syariah, lines of business (enterprise banking and retail
yang di gunakan untuk proses kredit, portfolio portfolio), except for sharia portfolio, that is used for
management dan basis perhitungan KKE sesuai credit process, portfolio management and the basis
prinsip-prinsip PSAK 71. for ECL calculation in accordance with the PSAK
71 principles.
Kondisi Pandemik Pandemic Condition
Dampak langsung dan tidak langsung atas pandemik Direct and indirect effects of the COVID-19
COVID-19 mempengaruhi perekonomian global, outbreak are impacting the global economy,
pasar, dan pihak lawan maupun debitur dari Bank. markets, and the counterparties and debtors of the
COVID-19 diperkirakan merupakan krisis jangka Bank. COVID-19 is expected to be short term and
pendek dan jangka menengah (V-curve crisis), serta medium term crisis (V-curve crisis), and
manajemen telah melakukan langkah-langkah untuk management has taking actions to mitigate the
memitigasi dampak terhadap bisnis Bank sebagai impacts on the Bank’s business as follow:
berikut:
 Menyediakan skema restrukturisasi kredit untuk  Provide various restructuring scheme for
debitur yang berdampak COVID-19. customers affected by COVID-19.
 Melakukan penyaluran kredit yang diberikan secara  Provide loans to customers selectively with
selektif dengan menerapkan prinsip kehati-hatian. prudent principles.
 Meningkatkan upaya penagihan dan penyelesaian  Increase efforts on collections and settlements of
kredit bermasalah. non-performing loans.
 Melakukan efisiensi biaya operasional.  Manage operational expenses efficiently.
 Menerapkan manajemen risiko likuiditas secara  Implement liquidity risk management optimally to
optimum untuk menjaga posisi likuiditas Bank. secure the Bank’s liquidity position.
 Melakukan evaluasi dampak pandemi COVID-19  Evaluate the impact of the COVID-19
terhadap perhitungan kerugian kredit ekspektasian, pandemic on calculating expected credit loss,
antara lain penyesuaian terhadap variabel ekonomi including adjustments to macroeconomic
makro yang mempengaruhi KKE 12 bulan (Tahap 1) variables that affect 12-month ECL (Stage 1)
dan KKE sepanjang umur aset keuangan (Tahap 2). and ECL over the life of the financial assets
Mengingat model perhitungan KKE tidak (Stage 2). Considering that ECL calculation
sepenuhnya dapat menghasilkan estimasi kerugian model cannot produce an accurate estimation
yang akurat dalam kondisi ekonomi yang abnormal, of losses in abnormal economic conditions,
maka Manajemen juga sudah memperhitungkan Management has also taken into account
beberapa faktor penyesuaian untuk memastikan several adjustment factors to ensure the
nilai KKE yang diakui dalam laporan keuangan expected value of ECL recognized in the
dinyatakan secara wajar. Dalam menilai kondisi financial statements is stated fairly. In
masa depan, manajemen telah mempertimbangkan assessing future conditions, management has
berbagai informasi relevan yang tersedia, termasuk considered various relevant information
kebijakan dan stimulus COVID-19 yang dikeluarkan available, including COVID-19 policies and
oleh pemerintah untuk mendukung dan mengurangi stimulus issued by the government to support
dampak penyebaran COVID-19 terhadap and mitigate the impact of the spread of
perekonomian, dan mendorong Bank untuk COVID-19 on the economy, and
menunda atau merestrukturisasi pinjaman. Dalam encouragement for banks to defer or
kondisi normal, penjadwalan ulang atau restructure loans. Under normal conditions, a
restrukturisasi pinjaman akan menunjukkan rescheduling or restructuring of a loan would
peningkatan risiko kredit yang signifikan dan pindah indicate a significant increase in credit risk and
ke Tahap 2. a move to Stage 2.

686

Kondisi Pandemik (lanjutan) Pandemic Condition (continued)
Namun, dalam kondisi saat ini dan sejalan dengan However, in the current condition and in line with
panduan yang dikeluarkan oleh Ikatan Akuntan guidance issued by the Indonesia Institute of
Indonesia, manajemen telah mempertimbangkan Accountants, management have considered that
bahwa restrukturisasi atau peristiwa mungkin tidak such a restructuring or event may not automatically
secara otomatis memicu peningkatan risiko kredit yang trigger a significant increase in credit risk if the
signifikan jika peminjam diharapkan untuk memulihkan borrower would be expected to recover and fulfill their
dan memenuhi kewajiban kontraktual mereka setelah contractual obligations after the end of the
akhir periode restrukturisasi atau relaksasi. restructuring or relaxation period.
c. Risiko pasar c. Market risk
Risiko pasar merupakan risiko yang timbul karena Market risk is the risk of loss arising from adverse
adanya pergerakan faktor pasar seperti suku bunga movement in market variables in portfolios held by the
dan nilai tukar pada portofolio yang dimiliki oleh Bank Bank which are defined as interest rates and
yang dapat menyebabkan kerugian bagi bank (adverse exchange rates.
movement).
Risiko pasar terdapat pada aktivitas fungsional Bank Market risk exists at a bank wide level, as well as
termasuk level kegiatan tresuri. Aktivitas ini mencakup treasury business level. These include exposure in
posisi dalam bentuk surat berharga dan pasar uang, securities and money market, equity participation in
penyertaan pada lembaga keuangan lainnya, other financial institutions, provisions of funds (loans
penyediaan dana (pinjaman dan bentuk sejenis and other similar forms), funding and issuance of debt
lainnya), kegiatan pendanaan dan penerbitan surat instruments, and trade financing activities.
utang, dan kegiatan trade finance.
Komite Aset dan Liabilitas (ALCO) berperan sebagai The Assets and Liability Committee (ALCO) acts as
komite manajemen senior tertinggi untuk mengambil the apex senior management committee that in
keputusan atas kebijakan yang berkaitan dengan charge of making all policy decisions regarding
manajemen risiko pasar dan likuiditas. Pemantauan market and liquidity risk management. Market risk
dan pengendalian risiko pasar diterapkan melalui monitoring and controlling is implemented through a
kerangka limit yang secara periodik ditelaah untuk limit framework which is periodically reviewed in order
mendapatkan struktur limit yang lebih sensitif. Limit to accomplish a more sensitive limit structure. The
risiko pasar ditetapkan untuk Trading dan Interest Rate limits are set for Trading and Interest Rate Risk in the
Risk in the Banking Book (termasuk Portofolio HTCS - Banking Book (including HTCS - Hold to Collect & Sell
Hold to Collect & Sell dan Derivative for Funding & Portfolio and derivative for Funding & Hedging).
Hedging).
Secara keseluruhan, risiko pasar dibagi menjadi dua In overall, market risk is divided into two following
bagian sebagai berikut: risks:
i. Risiko mata uang asing i. Foreign currency risk
Risiko mata uang asing timbul dari adanya posisi Foreign exchange risks arise from on and off-
neraca dan komitmen dan kontinjensi (off-balance balance sheet positions both on the asset and
sheet) baik di sisi aset maupun liabilitas yang liability sides through transactions in foreign
timbul melalui transaksi mata uang asing. currencies.
Bank mengukur risiko nilai tukar untuk melihat The Bank measures the foreign exchange risk
dampak perubahan nilai tukar pada pendapatan to understand the impact of the exchange rate
dan modal Bank. Untuk mengelola dan memitigasi movement on the Bank’s revenue and capital.
risiko nilai tukar, pembatasan posisi secara internal In order to manage and mitigate the foreign
telah ditetapkan di bawah limit regulator sebesar exchange risk, predefined limits are set on top
20%. of the 20% regulatory limit.

687


c. Risiko pasar (lanjutan) c. Market risk (continued)
i. Risiko mata uang asing (lanjutan) i. Foreign currency risk (continued)

2021
Posisi Devisa
Liabilitas/ Neto/Net
Mata Uang Aset/Assets Liabilities Open Position Currencies
Keseluruhan Aggregate (Statement
(Laporan posisi keuangan of financial position
dan Rekening Administratif) and Off-Balance Sheet)
Yuan China 93.544 184.104 90.560 China Yuan
Offshore Yuan China 95.146 16.229 78.917 Offshore China Yuan
Yen Jepang 236.886 210.842 26.044 Japanese Yen
Euro Eropa 372.951 355.632 17.319 European Euro
Dolar Amerika Serikat 36.694.298 36.680.113 14.185 United States Dollar
Dolar Australia 451.648 442.353 9.295 Australian Dollar
Franc Swiss 14.676 6.476 8.200 Swiss Franc
Dolar Selandia Baru 115.845 110.374 5.471 New Zealand Dollar
Lain-lain 581.709 571.459 10.269 *) Other currencies
Jumlah 260.260 Total
Jumlah Modal Tier I dan II 32.414.862 Total Tier I and II Capital
Rasio PDN (Keseluruhan) 0,80% NOP Ratio (Aggregate)
2020
Posisi Devisa
Liabilitas/ Neto/Net
Mata Uang Aset/Assets Liabilities Open Position Currencies
Keseluruhan Aggregate (Statement
(Laporan posisi keuangan of financial position
dan Rekening Administratif) and Off-Balance Sheet)
Dolar Amerika Serikat 25.362.946 25.092.553 270.393 United States Dollar
Euro Eropa 326.199 329.227 3.028 European Euro
Dolar Singapura 394.694 405.303 10.609 Singapore Dollar
Dolar Hong Kong 3.312 - 3.312 Hong Kong Dollar
Yen Jepang 232.621 226.581 6.040 Japanese Yen
Poundsterling Inggris 57.646 50.366 7.280 Great Britain Poundsterling
Dolar Australia 307.267 300.727 6.540 Australian Dollar
Lain-lain 221.731 221.415 159.152 *) Other currencies
Jumlah 466.354 Total
Jumlah Modal Tier I dan II 32.468.244 Total Tier I and II Capital
Rasio PDN (Keseluruhan) 1,44% NOP Ratio (Aggregate)
*) Merupakan penjumlahan dari nilai absolut atas selisih aset dan liabilitas *) The sum of the absolute values of the difference between assets
di Laporan posisi keuangan untuk setiap mata uang asing ditambah and liabilities at the Statement of financial position for each
dengan selisih tagihan dan liabilitas dalam bentuk komitmen dan foreign currency and added with the difference between
kontinjensi. receivables and liabilities in the form of commitments and
contingencies.
Analisa Sensitivitas Sensitivity Analysis
Selain melakukan pemantauan terhadap rasio In addition to the NOP ratio monitoring, the Bank
PDN, Bank juga melakukan pemantauan also monitors the foreign exchange sensitivity.
sensitivitas nilai tukar mata uang asing. Bank The Bank performs simulations to illustrate the
melakukan simulasi untuk menggambarkan exposure if there are movements in the foreign
besarnya eksposur jika terjadi pergerakan nilai exchange. Sensitivity factor for foreign exchange
tukar mata uang asing. Faktor sensitivitas untuk is defined as the total amount of exposure for
nilai tukar didefinisikan sebagai jumlah total each foreign exchange given unit changes by
eksposur untuk setiap perubahan nilai tukar mata 1%.
uang asing sebesar 1%.

688

i. Risiko mata uang asing (lanjutan) i. Foreign currency risk (continued)
Analisa Sensitivitas (lanjutan) Sensitivity Analysis (continued)
Peningkatan 1%/ Penurunan 1%/

1% increase 1% decrease
(IDR) (IDR)
31 Desember 2021 31 December 2021

Potensi keuntungan/(kerugian) Potential gains/(losses) on
perubahan nilai tukar 791 (791) exchange rate change
31 Desember 2020 31 December 2020

Potensi keuntungan/(kerugian) Potential gains/(losses) on
perubahan nilai tukar 2.802 (2.802) exchange rate change
ii. Risiko tingkat suku bunga ii. Interest rate risk
Risiko suku bunga adalah potensi kerugian yang Interest rate risk is the probability loss that may
timbul akibat pergerakan suku bunga di pasar occur from adverse movement in market interest
yang berlawanan dengan posisi atau transaksi rates vis-à-vis the Bank position or transaction.
Bank yang mengandung risiko suku bunga.
Tabel di bawah merangkum tingkat suku bunga The table below summarizes the effective
efektif per tahun untuk Rupiah dan mata uang interest rate per annum for Rupiah and foreign
asing pada tanggal 31 Desember 2021 dan 2020: currencies as of and 31 December 2021 and
2020:
2021 2020
Mata Uang Mata Uang
Asing/ Asing/
Rupiah/ Foreign Rupiah/ Foreign
Rupiah Currencies Rupiah Currencies
% % % %
ASET ASSETS
Giro pada bank lain 0,05 0,05 0,06 0,08 Current accounts with other banks
dan Bank Indonesia 2,97 0,04 3,22 0,05 and Bank Indonesia
Efek-efek 7,65 3,92 8,03 3,92 Marketable securities
janji dijual kembali 3,61 - 3,77 - resale agreements
Obligasi Pemerintah 6,28 3,69 6,29 4,10 Government Bonds
Pinjaman yang diberikan 8,42 3,26 9,17 3,14 Loans
Piutang pembiayaan konsumen 25,37 - 26,79 - Consumer financing receivables
Piutang sewa pembiayaan 19,02 - 16,55 - Finance lease receivables
- Giro 1,62 0,17 2,53 0,16 Current accounts -
- Tabungan 1,60 0,18 2,35 0,29 Savings -
- Deposito berjangka 2,95 0,34 4,24 0,60 Time deposits -
Simpanan dari bank lain 1,92 0,16 2,91 0,29 Deposits from other banks
Efek yang diterbitkan 8,13 - 8,80 - Securities issued
Pinjaman yang diterima 8,11 1,06 9,12 1,12 Borrowings

689


ii. Risiko tingkat suku bunga (lanjutan) ii. Interest rate risk (continued)
Bank memiliki eksposur suku bunga USD terkait The Bank has an exposure to LIBOR USD
dengan LIBOR namun eksposur yang dimiliki interest rate however is relatively minimum. The
oleh bank relatif minimum. Eksposur terhadap Bank’s exposure to LIBOR mainly coming from
LIBOR yang dimiliki oleh bank bersumber pada loan transaction and derivative transaction
transaksi pinjaman dan transaksi derivatif (especially swap transaction) which use LIBOR
(khususnya transaksi swap) yang memakai as reference.
LIBOR sebagai suku bunga referensi.
Pada 31 Desember 2021, Bank memiliki As of December 31, 2021, the Bank has
instrumen keuangan derivatif dan non-derivatif derivative and non-derivative financial
yang menggunakan suku bunga USD LIBOR instruments that use 1-month, 3-month and 6-
1-bulan, 3-bulan dan 6-bulan. Sebagian besar month USD LIBOR interest rates. Most of the
instrumen keuangan derivatif dan non-derivatif derivative and non-derivative financial
tersebut akan jatuh tempo sebelum Juni 2023. instruments will mature before June 2023.
Anak perusahaan memiliki eksposur di LIBOR

dari transaksi pinjaman dan transaksi derivatif Subsidiaries of the bank have exposure in
untuk hedging, akan tetapi secara keseluruhan LIBOR from loan transaction and derivative
transaksi akan jatuh tempo sebelum Juni 2023 transaction for hedging, however all transaction
sehingga tidak terpengaruhi oleh perubahan will mature before June 2023 which not
LIBOR. impacted by LIBOR changes.
Bank memantau dinamika pasar dan hasil dari The Bank has closely monitored the market
kelompok kerja berbagai industri, yang dynamics and the output from the various
menangani transisi LIBOR ke suku bunga acuan industry working groups managing the transition
yang baru. Termasuk pengumuman yang dibuat of LIBOR to new benchmark interest rates. This
oleh regulator LIBOR. Pada bulan Maret 2021, includes announcements made by LIBOR
Financial Conduct Authority (FCA) telah regulator. In March 2021, the Financial Conduct
mengumumkan tanggal penghentian pengajuan Authority (FCA) has announced the dates that
seluruh pengaturan LIBOR oleh bank, setelah itu panel bank submissions for all LIBOR settings
suku bunga LIBOR yang representatif tidak akan will cease, after which representative LIBOR
tersedia lagi. FCA telah mengkonfirmasi bahwa rates will no longer be available. The FCA has
semua pengaturan LIBOR akan berhenti confirmed that all LIBOR settings will either
disediakan oleh administrator manapun atau cease to be provided by any administrator or no
perwakilan manapun: longer be representative:
 segera setelah 31 Desember 2021, untuk  immediately after December 31, 2021, in the
seluruh pengaturan Poundsterling, Euro, case of all Poundsterling, Euro, Swiss
Franc Swiss, Yen Jepang, dan 1-minggu dan Franc, Japanese Yen, and the 1-week and
2-bulan USD; dan 2-month USD settings; and
 segera setelah 30 Juni 2023, untuk  immediately after 30 June 2023, in the case
pengaturan USD yang tersisa. of the remaining USD settings.
Menanggapi pengumuman tersebut, Bank telah In response to the announcements, the Bank
menyiapkan program transisi IBOR melalui has set up an IBOR transition program through
project committee. project committee.

690

Bank mengelola risiko suku bunga dengan The Bank manages its interest rate risk using
menggunakan analisa repricing gap, serta NII repricing gap analysis, as well as NII (Net
(Net Interest Income) dan EVE (Economic Value Interest Income) and EVE (Economic Value of
of Equity) sesuai dengan SEOJK Equity) in accordance to SEOJK
No.12/SEOJK.03/2018. No.12/SEOJK.03/2018.
Buku trading tetap harus dikelola melalui Trading book remains to be managed through
pengukuran terhadap posisi dan juga melalui position and more interest rate risk sensitive
pengukuran yang lebih sensitif terhadap risiko measurements such as DV01 (per bucket tenor
suku bunga seperti DV01 (per tenor bucket dan and per currency) and Stop Loss Limit.
mata uang) dan Stop Loss Limit.
Tabel di bawah ini menyajikan portofolio Bank The table below summarizes the Bank’s non-fair
(tidak termasuk portofolio yang diukur pada nilai value through profit or loss “FVTPL” portfolios at
wajar melalui laba rugi “FVTPL”) pada nilai carrying amounts, categorized by the earlier of
tercatatnya, yang dikelompokkan menurut mana contractual repricing or contractual maturity
yang lebih awal antara tanggal repricing atau dates:
tanggal jatuh tempo kontraktual:
2021
Suku bunga mengambang/ Suku bunga tetap/
Floating interest rate Fixed interest rate
Lebih
dari/ Kurang
Kurang dari/ More dari/Less Lebih dari/
Nilai tercatat/ Less than 3 12 - 24 than 24 than 3 12 - 24 More than
Carrying bulan/ 3 - 12 bulan/ bulan/ bulan/ bulan/ 3 - 12 bulan/ bulan/ 24 bulan/
amount months months months months months months months months
ASET ASSETS
Giro pada Bank Current accounts with Bank
Indonesia - neto 3.060.014 - - - - 3.060.014 - - - Indonesia - net
Giro pada bank lain - neto 2.977.634 - - - - 2.977.634 - - - banks - net
dan Bank Indonesia - neto 9.888.484 - - - - 9.859.389 29.095 - - and Bank Indonesia - net
Efek-efek - neto 5.509.044 - - - - 2.204.220 1.993.811 666.125 644.888 Marketable securities - net
janji dijual kembali 3.308.308 - - - - 3.308.308 - - - resale agreements
Obligasi Pemerintah 28.411.581 - - - - 1.614.421 5.876.986 8.711.586 12.208.588 Government bonds
Pinjaman yang
diberikan - neto 99.965.961 40.261.771 2.815.860 15.014.155 1.803.420 16.423.766 12.551.817 7.857.018 3.238.154 Loans - net
konsumen - neto 19.958.199 - - - - 3.267.076 7.005.635 5.595.094 4.090.394 receivables - net
pembiayaan - neto 280.613 - - - - 32.588 85.822 86.099 76.104 receivables - net
Aset lain-lain - neto 1.131.457 - - - - 1.131.457 - - - Other assets - net
Jumlah 174.491.295 40.261.771 2.815.860 15.014.155 1.803.420 43.878.873 27.543.166 22.915.922 20.258.128 Total
Simpanan nasabah (121.069.317) (18.351.713) (52.603.981) - - (45.996.657) (4.116.966) - - Deposits from customers
Simpanan dari bank lain (2.284.587) - - - - (953.495) (38.128) (1.292.964) - Deposits from other banks
Utang obligasi (6.348.234) - - - - (298.956) (2.816.625) (1.420.471) (1.812.182) Bonds payable
Sukuk mudharabah (402.000) - - - - (62.000) (199.000) (29.000) (112.000) Mudharabah bonds
Pinjaman yang diterima (4.275.546) (772.010) (1.686.545) (718.564) - (477.083) (621.344) - - Borrowings
Pinjaman subordinasi (25.000) - - - - - - - (25.000) Subordinated loan
Jumlah (134.404.684) (19.123.723) (54.290.526) (718.564) - (47.788.191) (7.792.063) (2.742.435) (1.949.182) Total
Pengaruh dari derivatif Effect of derivatives held

untuk manajemen risiko - (3.428.929) - - - 844.143 1.779.733 805.053 - for risk management
Selisih 40.086.611 17.709.119 (51.474.666) 14.295.591 1.803.420 (3.065.175) 21.530.836 20.978.540 18.308.946 Difference

691


2020
Suku bunga mengambang/ Suku bunga tetap/
Floating interest rate Fixed interest rate
Lebih
dari/ Kurang
Kurang dari/ More dari/Less Lebih dari/
Nilai tercatat/ Less than 3 12 - 24 than 24 than 3 12 - 24 More than
Carrying bulan/ 3 - 12 bulan/ bulan/ bulan/ bulan/ 3 - 12 bulan/ bulan/ 24 bulan/
amount months months months months months months months months
ASET ASSETS
Giro pada Bank Current accounts with Bank
Indonesia - neto 2.185.998 - - - - 2.185.998 - - - Indonesia - net
Giro pada bank lain - neto 4.417.073 - - - - 4.417.073 - - - banks - net
dan Bank Indonesia - neto 7.303.551 - - - - 7.255.065 48.486 - - and Bank Indonesia - net
Efek-efek - neto 4.684.063 - - - - 1.357.427 670.354 1.922.907 733.375 Marketable securities - net
janji dijual kembali 12.126.419 - - - - 12.126.419 - - - resale agreements
Obligasi Pemerintah 22.776.561 - - - - 51.721 5.040.373 6.790.348 10.894.119 Government bonds
Pinjaman yang
diberikan - neto 103.937.018 48.828.778 2.334.810 19.276.225 1.321.835 7.747.714 11.138.351 5.938.543 7.350.762 Loans - net
konsumen - neto 22.605.362 - - - - 3.838.131 8.266.677 6.479.160 4.021.394 receivables - net
pembiayaan - neto 246.644 - - - - 25.972 67.415 88.064 65.193 receivables - net
Aset lain-lain - neto 2.201.080 - - - - 2.201.080 - - - Other assets - net
Jumlah 182.483.769 48.828.778 2.334.810 19.276.225 1.321.835 41.206.600 25.231.656 21.219.022 23.064.843 Total
Simpanan nasabah (123.733.204) (15.456.860) (48.410.302) - - (54.833.171) (5.030.271) (2.600) - Deposits from customers
Simpanan dari bank lain (2.477.725) - - - - (1.081.597) (60.507) (1.335.621) - Deposits from other banks
Utang obligasi (7.913.559) - - - - (1.221.669) (1.625.448) (2.545.309) (2.521.133) Bonds payable
Sukuk mudharabah (478.000) - - - - (62.000) (214.000) (127.000) (75.000) Mudharabah bonds
Pinjaman yang diterima (8.952.442) (1.112.291) (6.398.605) - - (979.153) (409.722) (52.671) - Borrowings
Pinjaman subordinasi (25.000) - - - - - - - (25.000) Subordinated loan
Jumlah (143.579.930) (16.569.151) (54.808.907) - - (58.177.590) (7.339.948) (4.063.201) (2.621.133) Total
Pengaruh dari derivatif Effect of derivatives held

untuk manajemen risiko - (8.458.638) - - - 1.312.190 3.677.233 2.664.162 805.053 for risk management
Selisih 38.903.839 23.800.989 (52.474.097) 19.276.225 1.321.835 (15.658.800) 21.568.941 19.819.983 21.248.763 Difference
Analisis sensitivitas Sensitivity analysis
Pengelolaan risiko tingkat suku bunga dilengkapi The interest rate risk management is
dengan analisa sensitivitas secara periodik untuk supplemented by regularly conducting
mengukur dampak dari perubahan suku bunga. sensitivity analyzes on scenarios to see the
impact of changes in interest rate.
Metode yang digunakan untuk analisis Methods that being used are EVE and NII as
sensitivitas adalah EVE dan NII seperti yang stipulated in OJK circular letter SEOJK
digunakan dalam SEOJK No.12/SEOJK.03/2018 No.12/SEOJK.03/2018 concerning Risk
tentang Penerapan Manajemen Risiko dan Management Implementation and Standardized
Pengukuran Risiko Pendekatan Standar untuk Approach Risk Measurement for Interest Rate
Risiko Suku Bunga dalam Banking Book. Pada Risk in the Banking Book. Under both methods,
kedua metode tersebut, analisis sensitivitas sensitivity analysis is conducted by increasing
dilakukan dengan menaikkan dan menurunkan and decreasing the interest rate in accordance
suku bunga sesuai dengan skenario yang to the scenarios stipulated in the circular letter.
ditetapkan pada SEOJK tersebut.

692

Kenaikan paralel/ Penurunan paralel/

parallel increase parallel decrease
Dampak Dampak
terhadap Dampak terhadap Dampak
laba rugi/ terhadap laba rugi/ terhadap
Effect on ekuitas/ Effect on ekuitas/
profit or Effect on profit or Effect on
loss equity loss equity
Sensitivitas terhadap risiko Sensitivity to interest

suku bunga rate risk
Pada tanggal 31 Desember 2021 As of 31 December 2021

Mata uang asing (39.020) (101.590) (130.754) 5.058 Foreign currencies
Rupiah (732.613) (3.282.223) (959.730) 3.685.016 Rupiah
Pada tanggal 31 Desember 2020 As of 31 December 2020

Mata uang asing 125.428 (129.499) (91.865) (15.309) Foreign currencies
Rupiah (701.489) (2.467.789) (442.928) 2.737.331 Rupiah
Bank menggunakan metode NII dan EVE sesuai The bank uses NII and EVE method in accordance
SEOJK No.12/SEOJK.03/2018. to SEOJK No.12/SEOJK.03/2018.
d. Risiko likuiditas d. Liquidity risk
Risiko likuiditas adalah risiko yang disebabkan oleh Liquidity risk is the risk caused by the inability of the
ketidakmampuan Bank dalam memenuhi kewajiban Bank to meet its obligations at due date and unwind
yang telah jatuh tempo dan menutup posisi di pasar. position created from market. Liquidity risk is an
Risiko likuiditas merupakan risiko yang terpenting pada important risk for commercial bank and as such
bank umum dan perlu dikelola secara needs to be managed on an on-going basis.
berkesinambungan.
Komite Aset dan Liabilitas (ALCO) berperan sebagai The Asset and Liability Committee (ALCO) acts as the
Komite manajemen senior tertinggi untuk memonitor apex Committee entrusted to monitor liquidity
situasi likuiditas Bank. situation of the Bank.
Bank mengelola risiko likuiditas melalui analisis The Bank manages liquidity risk through liquidity gap
perbedaan jatuh tempo likuiditas dan rasio-rasio analysis and liquidity ratios.
likuiditas.
Pemantauan dan pengendalian risiko likuiditas Liquidity risk monitoring and controlling is
diterapkan melalui kerangka limit yang secara periodik implemented through a limit framework which is
direviu untuk mendapatkan struktur limit yang lebih periodically reviewed in order to accomplish a more
sensitif. Struktur limit risiko likuiditas terkini mencakup sensitive limit structure. The coverage of
pengukuran limit dan indikator antara lain Liquidity current liquidity risk limit structure includes
Coverage Ratio (LCR), Net Stable Funding Ratio measurement of limit and indicator such as Liquidity
(NSFR), Maximum Cumulative Outflow (MCO), Rasio Coverage Ratio (LCR), Net Stable Funding Ratio
Intermediasi Makroprudensial (RIM), dan risiko (NSFR), Maximum Cumulative Outflow (MCO),
konsentrasi pendanaan. Macroprudential Intermediation Ratio (MIR), and
funding concentration risk.

693


d. Risiko likuiditas (lanjutan) d. Liquidity risk (continued)
Eksposur terhadap risiko likuiditas Exposure to liquidity risk
Untuk melengkapi kerangka kerja, risiko likuiditas To complete the framework, liquidity risk is measured
diukur dan dikelola pada kondisi normal (business-as- and controlled under both normal and stress
usual) dan kejadian kondisi stress. Sehingga, Maximum scenarios. Thus, the Maximum Cumulative Outflow
Cummulative Outflow (MCO) juga diukur untuk situasi (MCO) is estimated also under abnormal market
tidak normal, untuk itu rencana pendanaan darurat condition, such that the Contingency Funding Plan
likuiditas (CFP) telah disusun untuk mempersiapkan (CFP) is in place in case of liquidity crisis.
Bank jika terjadi krisis likuiditas.
Pada tanggal 31 Desember 2021 dan 2020, rasio dari As of 31 December 2021 and 2020, the ratio of net
aset likuid neto terhadap simpanan nasabah adalah liquid assets to deposits from customers are as
sebagai berikut: follows:
2021 2020
Kas dan setara kas 18.260.606 16.698.291 Cash and cash equivalents
Efek-efek dan Obligasi Pemerintah Trading marketable securities and
diperdagangkan, tidak termasuk SBI Government Bonds, excluding
yang sudah diklasifikasikan sebagai Certificates of Bank Indonesia classified
kas dan setara kas 1.931.155 2.763.282 as cash and cash equivalents
Efek-efek dan Obligasi Pemerintah diukur Marketable securities and Government
pada nilai wajar melalui penghasilan Bonds measured at fair value
komprehensif lain, tidak termasuk SBI through other comprehensive income,
yang sudah diklasifikasikan sebagai excluding Certificates of Bank Indonesia
kas dan setara kas 31.885.040 26.111.230 classified as cash and cash equivalents
Simpanan dari bank lain (2.284.587) (2.477.725) Deposits from other banks
Jumlah aset likuid neto 49.792.214 43.095.078 Total net liquid assets
Simpanan dari nasabah 121.069.317 123.733.204 Deposits from customers

Rasio aset likuid neto terhadap Ratio of net liquid assets to
simpanan dari nasabah 41,13% 34,83% deposits from customers
Sisa jatuh tempo kontraktual dari liabilitas Residual contractual maturities of financial
keuangan liabilities
Tabel di bawah ini menyajikan ekspektasi arus kas dari The table below shows the expected cash flows on
liabilitas keuangan Bank berdasarkan tahun jatuh the Bank’s financial liabilities on the basis of their
tempo kontraktual yang terdekat dan asumsi perilaku earliest possible contractual maturity and behavioral
(behavioral assumptions) pada tanggal laporan posisi assumptions as of the statement of financial position
keuangan. date.
Nilai nominal arus masuk/arus keluar yang disajikan The nominal inflow/outflow disclosed in the following
pada tabel di bawah ini merupakan arus kas kontraktual table represent the contractual undiscounted cash
yang tidak didiskontokan terkait dengan pokok dan flows relating to the principal and interest on the
bunga atas liabilitas keuangan. Pengungkapan financial liability. The disclosure for derivatives shows
instrumen derivatif menunjukkan nilai neto derivatif a net amount for derivatives that are net settled, and
yang dapat diselesaikan secara neto, juga arus masuk a gross inflow and outflow amount for derivatives that
dan arus keluar bruto untuk derivatif yang diselesaikan have simultaneous gross settlement (e.g. currency
bruto secara bersamaan (seperti kontrak berjangka forward).
valuta asing).

694

Sisa jatuh tempo kontraktual dari liabilitas Residual contractual maturities of financial
keuangan (lanjutan) liabilities (continued)
2021
Kurang dari 1
bulan/ 3 - 12
Less than 1 1 - 3 bulan/ bulan/ >1 tahun/
month months months years Jumlah/Total
Liabilitas non derivatif: Non-derivative liabilities:

Simpanan nasabah 121.501.445 - - - 121.501.445 Deposits from customers
Simpanan dari bank lain 2.284.587 - - - 2.284.587 Deposits from other banks
Utang akseptasi 717.331 1.060.761 283.102 - 2.061.194 Acceptance payables
Utang obligasi 137.209 286.025 3.108.307 3.543.021 7.074.562 Bonds payable
Sukuk mudharabah 59.863 8.738 212.930 153.618 435.149 Mudharabah bonds
Pinjaman yang diterima 405.634 862.643 2.330.231 721.568 4.320.076 Borrowings
Pinjaman Subordinasi - - - 28.006 28.006 Subordinated loan
Liabilitas lain-lain 2.824.440 - - - 2.824.440 Other liabilities
127.930.509 2.218.167 5.934.570 4.446.213 140.529.459
Derivatif: Derivatives:
Arus keluar (15.787.537) (11.395.851) (5.953.325) (1.186.684) (34.323.397) Outflow
Arus masuk 15.830.463 11.391.679 5.880.616 1.143.271 34.246.029 Inflow
42.926 (4.172) (72.709) (43.413) (77.368)
127.973.435 2.213.995 5.861.861 4.402.800 140.452.091
2020
Kurang dari 1
bulan/
Less than 1 1 - 3 bulan/ 3 - 12 bulan/ >1 tahun/
month months months years Jumlah/Total
Liabilitas non derivatif: Non-derivative liabilities:

Simpanan nasabah 124.291.257 - - - 124.291.257 Deposits from customers
Simpanan dari bank lain 2.477.725 - - - 2.477.725 Deposits from other banks
Utang akseptasi 503.054 298.196 796.254 - 1.597.504 Acceptance payables
Utang obligasi 81.555 1.309.573 2.020.224 5.671.101 9.082.453 Bonds payable
Sukuk mudharabah 6.307 64.885 234.742 220.737 526.671 Mudharabah bonds
Pinjaman yang diterima 654.194 1.484.605 3.733.650 3.212.951 9.085.400 Borrowings
Pinjaman Subordinasi - - - 30.356 30.356 Subordinated loan
Liabilitas lain-lain 3.380.922 - - - 3.380.922 Other liabilities
131.395.014 3.157.259 6.784.870 9.135.145 150.472.288
Derivatif: Derivatives:
Arus keluar (9.699.292) (4.522.508) (5.670.752) (3.900.733) (23.793.285) Outflow
Arus masuk 9.763.574 4.509.323 5.303.412 3.647.167 23.223.476 Inflow
64.282 (13.185) (367.340) (253.566) (569.809)
131.459.296 3.144.074 6.417.530 8.881.579 149.902.479

695



Analisis perbedaan jatuh tempo aset dan liabilitas Maturity gap analysis of assets and liabilities
Tabel di bawah ini menyajikan analisa jatuh tempo aset The table below shows the analysis of maturities of
dan liabilitas Bank dan Entitas Anak pada tanggal assets and liabilities of the Bank and Subsidiaries as
31 Desember 2021 dan 2020, berdasarkan jangka of 31 December 2021 and 2020, based on remaining
waktu yang tersisa sampai tanggal jatuh tempo kontrak terms to contractual maturity date and behavioral
dan asumsi perilaku (behavioral assumptions): assumptions:
2021
Tidak
mempunyai
tanggal
jatuh tempo Lebih
Nilai kontraktual/ dari/More
tercatat/ No Kurang dari/ 6 - 12 than 12
Carrying contractual Less than 1 1 - 3 bulan/ 3- 6 bulan/ bulan/ bulan/
amount maturity bulan/month months months months months
ASET ASSETS
Kas 2.789.555 2.789.555 - - - - Cash
Current accounts with Bank
Giro pada Bank Indonesia 3.060.014 - 3.060.014 - - - - Indonesia
Giro pada bank lain 2.979.223 - 2.979.223 - - - - Current accounts with other Banks
dan Bank Indonesia 9.888.507 - 9.431.814 427.575 - 29.118 - and Bank Indonesia
Efek-efek: Marketable securities:
Nilai wajar melalui laba rugi 4.999 - 4.999 - - - - Fair value through profit or loss
Nilai wajar melalui
penghasilan komprehensif Fair value through other
lain 3.473.459 - - 278.035 627.144 1.257.268 1.311.012 comprehensive income
Biaya perolehan
diamortisasi 2.055.274 - 264.260 652.802 1.137.516 696 - Amortized cost
janji dijual kembali 3.308.308 - 2.281.999 1.026.309 - - - resale agreements
Obligasi Pemerintah: Government Bonds:
Nilai wajar melalui laba rugi 1.926.156 - 419.488 185.761 69.484 67.853 1.183.570 Fair value through profit or loss
Nilai wajar melalui
lain 28.411.581 - 336.319 2.264.958 3.896.020 994.109 20.920.175 comprehensive income
Tagihan derivatif 187.297 - 55.879 58.969 28.132 15.695 28.622 Derivative receivables
Pinjaman yang diberikan 106.092.424 - 18.234.697 14.194.006 12.037.866 25.836.711 35.789.144 Loans
Piutang pembiayaan
konsumen 21.322.765 - 1.443.587 1.981.481 2.759.374 4.607.927 10.530.396 Consumer financing receivables
Piutang sewa pembiayaan 292.320 - 12.270 21.431 30.723 58.400 169.496 Finance lease receivables
Tagihan akseptasi 2.061.194 - 717.331 1.060.761 243.887 39.215 - Acceptance receivables
Investasi dalam saham 82.078 82.078 - - - - - Investments in shares
Investasi pada entitas asosiasi 949.009 949.009 - - - - - Investment in associate
aset lain-lain 4.103.164 140.703 132.333 232.176 16.858 5.682 3.575.412 Prepayments and other assets
192.987.327 1.171.790 42.163.768 22.384.264 20.847.004 32.912.674 73.507.827
Simpanan nasabah 121.069.317 - 39.752.210 19.916.611 2.652.917 1.461.268 57.286.311 Deposits from customers
Simpanan dari bank lain 2.284.587 - 711.814 241.681 28.910 9.218 1.292.964 Deposits from other banks
Utang akseptasi 2.061.194 - 717.331 1.060.761 243.887 39.215 - Acceptance payables
Utang obligasi 6.348.234 - 57.996 240.960 1.138.238 1.678.387 3.232.653 Bonds payable
Sukuk mudharabah 402.000 - 55.000 7.000 10.000 189.000 141.000 Mudharabah bonds
Pinjaman yang diterima 4.275.546 - 487.927 1.029.916 1.291.433 1.426.873 39.397 Borrowings
Liabilitas derivatif 277.212 - 61.085 52.864 35.357 75.843 52.063 Derivative liabilities
Pinjaman subordinasi 25.000 - - - - - 25.000 Subordinated loan
Beban yang masih harus
dibayar dan kewajiban lain-
lain 10.201.366 1.617.941 1.415.484 361.299 74.426 572.751 6.159.465 Accruals and other liabilities
146.944.456 1.617.941 43.258.847 22.911.092 5.475.168 5.452.555 68.228.853
Selisih 46.042.871 (446.151) (1.095.079) (526.828) 15.371.836 27.460.119 5.278.974 Difference

696


2020
Tidak
mempunyai
tanggal
jatuh tempo Lebih
Nilai kontraktual/ dari/More
tercatat/ No Kurang dari/ 6 - 12 than 12
Carrying contractual Less than 1 1 - 3 bulan/ 3- 6 bulan/ bulan/ bulan/
amount maturity bulan/month months months months months
ASET ASSETS
Kas 2.838.127 - 2.838.127 - - - - Cash
Current accounts with Bank
Giro pada Bank Indonesia 2.185.998 - 2.185.998 - - - - Indonesia
Giro pada bank lain 4.418.587 - 4.418.587 - - - - Current accounts with other Banks
dan Bank Indonesia 7.304.063 - 7.255.577 - - - 48.486 and Bank Indonesia
Efek-efek: Marketable securities:
Nilai wajar melalui laba rugi 5.208 - 5.208 - - - - Fair value through profit or loss
Nilai wajar melalui
lain 3.334.669 - - 295.748 161.282 245.476 2.632.163 comprehensive income
Biaya perolehan
diamortisasi 1.361.234 - 242.042 424.806 676.135 18.251 - Amortized cost
janji dijual kembali 12.126.419 - 11.567.469 558.950 - - - resale agreements
Obligasi Pemerintah: Government Bonds:
Nilai wajar melalui laba rugi 2.758.074 - 1.329.096 155.285 8.398 316.649 948.646 Fair value through profit or loss
Nilai wajar melalui
lain 22.776.561 - - 204.505 3.029.152 1.751.588 17.791.316 comprehensive income
Tagihan derivatif 362.482 - 135.545 87.536 69.085 10.075 60.241 Derivative receivables
Pinjaman yang diberikan 109.391.995 - 16.042.665 16.519.266 12.991.762 29.209.095 34.629.207 Loans
Piutang pembiayaan
konsumen 24.516.578 - 1.765.726 2.320.070 3.272.074 5.557.937 11.600.771 Consumer financing receivables
Piutang sewa pembiayaan 252.391 - 9.949 16.444 23.393 45.181 157.424 Finance lease receivables
Tagihan akseptasi 1.597.504 - 503.054 298.196 787.722 8.532 - Acceptance receivables
Investasi dalam saham 107.213 107.213 - - - - - Investments in shares
Investasi pada entitas asosiasi 924.518 924.518 - - - - - Investment in associate
aset lain-lain 4.931.871 185.859 383.141 6.393 13.597 8.669 4.334.212 Prepayments and other assets
Jumlah 201.193.492 1.217.590 48.682.184 20.887.199 21.032.600 37.171.453 72.202.466 Total
Simpanan nasabah 123.733.204 - 43.806.825 23.322.996 3.275.419 1.730.627 51.597.337 Deposits from customers
Simpanan dari bank lain 2.477.725 - 698.381 383.216 39.245 21.262 1.335.621 Deposits from other banks
Utang akseptasi 1.597.504 - 503.054 298.196 787.722 8.532 - Acceptance payables
Utang obligasi 7.913.559 - - 1.221.669 - 1.625.448 5.066.442 Bonds payable
Sukuk mudharabah 478.000 - - 62.000 - 214.000 202.000 Mudharabah bonds
Pinjaman yang diterima 8.952.442 - 697.396 1.581.547 1.430.347 2.246.000 2.997.152 Borrowings
Liabilitas derivatif 674.240 - 71.517 55.982 142.184 172.633 231.924 Derivative liabilities
Pinjaman subordinasi 25.000 - - - - - 25.000 Subordinated loan
dibayar dan kewajiban lain-
lain 11.162.040 1.642.974 1.174.856 368.915 149.962 595.375 7.229.958 Accruals and other liabilities
157.013.714 1.642.974 46.952.029 27.294.521 5.824.879 6.613.877 68.685.434
Selisih 44.179.778 (425.384) 1.730.155 (6.407.322) 15.207.721 30.557.576 3.517.032 Difference
e. Risiko operasional e. Operational risk

Kebijakan Manajemen Risiko Operasional secara Bank wide Operational Risk Management Policy is
bankwide digunakan sebagai acuan utama bagi semua used as a main reference for all line of businesses,
lini bisnis, fungsi pendukung dan Entitas Anak dalam support functions and Subsidiaries in managing their
mengelola risiko operasional. operational risk.
Tujuan Bank dalam mengelola risiko operasional The Bank’s objective in managing operational risk is
adalah untuk mencegah atau meminimalisasi dampak to prevent or minimize the impact of the failure or
kegagalan/ketidakcukupan proses internal, manusia, inadequate internal process, people, systems or from
sistem atau kejadian-kejadian eksternal yang dapat external events, which could impact the financial
mengakibatkan kerugian keuangan dan merusak losses, and damage the Bank’s reputation.
reputasi Bank.

697



e. Risiko operasional (lanjutan) e. Operational risk (continued)
Pendekatan Bank terhadap manajemen risiko The Bank’s approach to Operational Risk
operasional adalah dengan menentukan strategi management is to define the best mitigation strategy
mitigasi guna memperoleh keseimbangan yang optimal to get optimum balance between operational risk
antara paparan risiko operasional, efektivitas exposure, effectiveness of control mechanism, and
mekanisme kontrol, dan pembuatan risk appetite creating risk appetite as a Bank strategy by a
sebagai salah satu strategi bank dengan melakukan consistent implementation of a comprehensive
implementasi yang konsisten atas kerangka kerja Operational Risk Management (“ORM”).
Manajemen Risiko Operasional (“ORM”).
Komponen utama dari Kerangka Kerja Pengelolaan Major components of Operational Risk Management
Risiko Operasional yang dijalankan secara Framework which are being consistently applied are:
berkesinambungan antara lain:
1. Tiga lini pertahanan 1. Three lines of defense
Unit bisnis dan fungsi pendukung sebagai pemilik Business and supporting units as the owner of risk
dari proses pengelolaan risiko, ORM di Lini Bisnis/ management process, ORM at Line of
Fungsi Pendukung, dan fungsi Pengendalian Business/Support Function, and Internal Control
Internal yang ada pada setiap Risk Taking Unit functions in each Risk Taking Unit (RTU) act as
(RTU) berperan sebagai lini pertahanan lapis the first line of defense in day-to-day execution/
pertama dalam penegakan pengelolaan risiko implementation of operational risk management.
operasional sehari-hari. Mereka bertanggungjawab They are responsible to identify, manage, monitor,
dalam mengidentifikasi, mengelola, memonitor, mitigate, and report on Operational Risk.
memitigasi, dan melaporkan Risiko Operasional.
Divisi ORM, Fraud & QA bersama-sama dengan ORM, Fraud & QA Division together with
Divisi Compliance dan Legal berperan sebagai Compliance and Legal Division act as the second
pertahanan lapis kedua yang bertanggungjawab line of defense which responsible for overseeing
dalam pengawasan pengelolaan risiko operasional operational risk management in the Bank,
di Bank, termasuk pengelolaan fraud dengan tujuan including fraud management with the objective to
untuk mengantisipasi risiko operasional yang anticipate operational risks which might arise
mungkin terjadi akibat tindakan fraud yang caused by fraudulent activities committed by
dilakukan baik oleh karyawan internal bank internal employee or external.
ataupun oleh pihak eksternal.
Sedangkan Auditor Internal (SKAI) secara Meanwhile, the Internal Auditors (SKAI) are
independen berperan sebagai pertahanan lapis independently performing the role as the third line
ketiga yang bertanggungjawab untuk of defense to identify any weaknesses that have
mengidentifikasi kelemahan yang ditemukan dalam been found in operational risk management and
pengelolaan risiko operasional dan menilai assess the implementation of operational risk
pelaksanaan kerangka manajemen risiko management in line with governance.
operasional telah berjalan sesuai dengan
ketentuan.
2. Proses pengelolaan risiko operasional 2. Operational risk management process
Pelaksanaan kerangka kerja ORM di Bank dan Practices of ORM Framework in the Bank and
Entitas Anak dilakukan dalam proses ORM yang Subsidiaries are being conducted through an
terpadu dan terdiri dari: integrated ORM process which consists of:
(1) Identifikasi dan analisa risiko yang melekat (1) Identify and analyze the inherent risk in new
pada produk, jasa, sistem dan proses baru and/or changes in product, service and
maupun perubahannya, serta memastikan processes, also ensures the preventive
adanya kecukupan kontrol preventif atas control adequacy over all the processes.
seluruh proses yang dijalankan.

698

2. Proses pengelolaan risiko operasional (lanjutan) .2. Operational risk management process
(continued)
(2) Pengukuran risiko di tingkat unit operasional (2) Risk measurement at operating unit level
didukung dengan perangkat Risk/Loss Event supported by Risk/Loss Event Database
Database (R/LED), Risk Control Self- (R/LED), Risk Control Self-Assessment
Assessment (RCSA), dan Key Risk Indicator (RCSA), and Key Risk Indicator (KRI) to
(KRI), untuk mengetahui efektivitas penerapan identify the effectiveness of operational risk
manajemen risiko operasional. management.
(3) Pemantauan risiko melalui penyusunan laporan (3) Risk monitoring through regular reports to
secara berkala ke manajemen untuk management to identify issues related to
mengidentifikasi masalah yang muncul terkait weakness or failure of controls functions.
dengan adanya kelemahan atau kegagalan
didalam penerapan fungsi kontrol.
(4) Pengendalian risiko dilakukan diantaranya (4) Risk control is conducted amongst others
dengan memastikan ketersediaan kebijakan through ensuring the availability of operational
operasional dan kecukupan kontrol pada policy and control adequacy in all operational
seluruh prosedur operasional untuk memitigasi procedures to mitigate the operational risk,
risiko operasional, termasuk memberikan including re-emphasizing the importance of
penekanan kepada pentingnya kontrol preventif preventative control and early detection
dan mekanisme pendeteksian dini atas mechanisms over operational risk exposures
pemaparan risiko operasional melalui through setting up a Quality Assurance
pembentukan fungsi Quality Assurance yang function which undertakes a bank wide
berperan dalam mengkoordinasikan usaha coordination to strengthen internal control
memperkuat system pengendalian internal dari systems in each Line of Business and Support
setiap lini bisnis dan fungsi pendukung. Function.
3. Sarana pendukung 3. Supporting infrastructure
Implementasi dari proses pengelolaan risiko The implementation of the comprehensive

operasional secara menyeluruh didukung dengan ORM process is supported by ORMS
alat bantu online real time yaitu ORMS (Operational Risk Management System), an
(Operational Risk Management System). ORMS internally designed online-real time tool. The
memiliki fungsi sebagai berikut: ORMS have the following functions:
 Pencatatan Risk Loss Event;  Risk Loss Event recording;
 Pencatatan Self Raise;  Self Raise recording;
 Memonitor Key Risk Indicator;  Key Risk Indicator monitoring;
 Risk Control Self-Assessment; dan  Risk Control Self-Assessment, and
 Reporting.  Reporting.
ORM juga mempunyai e-Learning yang telah dan ORM also has e-Learning which has been and
sedang dilaksanakan di seluruh jajaran being implemented for all level of management
manajemen dan karyawan Bank serta Entitas and employees of the Bank and Subsidiaries to
Anak untuk meningkatkan kesadaran akan increase awareness on the importance of
pentingnya risiko operasional. operational risk.
4. Fungsi Pendukung Pengelolaan Risiko 4. Operational Risk Management Support

Operasional Function
Pengelolaan risiko operasional juga didukung Operational risk management is also supported
dengan kerjasama antar bagian terkait di bank. by cooperation between related departments in
the bank.
Dalam rangka memenuhi peraturan OJK No.38/ To comply with the OJK Regulation No.38/
POJK.03/2016 tentang penerapan manajemen POJK.03/2016 related to the risk management
risiko dalam penggunaan Teknologi Informasi oleh implementation of Information Technology use
Bank umum, maka Bank telah membentuk divisi for the commercial banks, the Bank has
khusus yang mengelola risiko tersebut. established a special division to manage such
risk.

699




Operasional (lanjutan) Function (continued)
Ditinjau dari kerangka kerja konsep Manajemen Under the framework of the Enterprise Risk
Risiko Enterprise, risiko sehubungan penggunaan Management concept, risk related to IT usage
TI dan keamanan informasi adalah bagian dari and Information Security is a subset of
aspek risiko operasional. Risiko yang disebutkan operational risk aspect. The abovementioned risk
di atas mencakup pengelolaan risiko keamanan covers the risk management of Information
informasi (termasuk risiko keamanan siber) dan Security risk (including cyber security risk) and
risiko teknologi pada Bank, serta penentuan technology risks to the bank, as well as the
tindakan manajemen yang tepat dan prioritas yang determination of appropriate management
ditetapkan untuk mengelola dan menerapkan actions as well as establishing priorities for
kontrol untuk melindungi terhadap risiko tersebut. managing and implementing controls to protect
Oleh sebab itu risiko ini dikelompokkan dalam against those risks. Hence, this risk is classified
bagian risiko operasional. under operational risk section.
Manajemen Risiko Keamanan Informasi Information Security Risk Management

merupakan serangkaian kebijakan, dan kerangka comprises of a set of policy and frameworks or
kerja atau panduan yang menjadi dasar/acuan guidelines as a basis/reference for implementing
dasar bagi penerapan Keamanan Informasi di the Information Security within the Bank, from the
dalam Bank, ditinjau dari aspek-aspek perspective of confidentiality, integrity and
kerahasiaan, integritas dan ketersediaan. availability.
Manajemen Risiko Teknologi adalah aktivitas Technology Risk Management is a continuous

berkesinambungan untuk mengelola risiko yang activities to manage the potential emerging risk
berpotensi muncul dengan penggunaan teknologi, from the use of technology, following the agreed
sesuai dengan siklus manajemen risiko yang risk management cycle in the bank, especially to
berlaku, khususnya dengan memberikan penilaian provide a risk review for Bank’s new services and
risiko terhadap layanan dan produk baru Bank dari products from risk perspective and technology
perspektif risiko dan kontrol teknologi. control.
Business Continuity Management merupakan Business Continuity Management is a set of

serangkaian kebijakan, kerangka kerja dan proses policies, frameworks and processes aimed at
yang bertujuan meningkatkan kemampuan adaptif improving the Bank's adaptive capacity as well as
Bank serta membuat perencanaan, dan persiapan making further plans and preparations for make
lanjutan untuk membuat langkah pencegahan preventive measures in dealing with potential
dalam menghadapi potensi insiden yang incidents that disrupt the operational continuity of
mengganggu keberlangsungan operasional Bank the Bank and Subsidiaries.
dan Entitas Anak.
Bank juga telah melakukan langkah-langkah untuk The Bank has also taking actions to mitigate the
memitigasi dampak pandemi COVID-19 terhadap impacts of COVID-19 pandemic to the Bank’s
kegiatan operasional sebagai berikut: operational as follow:
 Melakukan beberapa program untuk  Carried out several programs to anticipate

mengantisipasi penyebaran COVID-19 di the spread of COVID-19 in the working
area kerja antara lain melaksanakan areas, among others implementation of split
pemisahan operasi (split operations), work operations, work from home, routine health
from home, survei kesehatan secara rutin, surveys, the use of masks and hand
pemakaian masker dan hand sanitizer, dan sanitizer, and others, include staff rapid test
lain-lain, termasuk pemeriksaan cepat pada by health provider.
karyawan oleh penyedia jasa kesehatan.

700


Operasional (lanjutan) Function (continued)
 Bank juga memberlakukan protokol  The Bank have consistently apply a strict
kesehatan secara ketat. Karyawan yang health protocol. Employees with infection
terpapar risiko penularan wajib melaporkan risk are required to report to the crisis
pada tim penanggulangan untuk kemudian command center, to then be provided with
mendapat bantuan medis yang diperlukan, suitable medical assistance and temporary
dan untuk sementara waktu sesuai dengan prohibited from entering office buildings in
peraturan kesehatan yang berlaku dilarang accordance with the prevailing health
bekerja dari kantor. Untuk mendukung protocol. This arrangement is supported by
pelaksanaan hal tersebut Bank telah installing face recognition tool in several
memasang alat pengelolaan akses main offices.
menggunakan fasilitas face recognition di
beberapa kantor utama.
 Menyelenggarakan vaksinasi untuk  Provide COVID-19 vaccination to
karyawan, keluarga, nasabah dan employees, families, customers and general
masyarakat umum melalui program public through the vaccination program in
vaksinasi bekerjasama dengan Dinas collaboration with Health Department, and
Kesehatan, dan juga melalui program also through the gotong royong program.
vaksinasi gotong royong.
 Memberikan fasilitas isolasi mandiri untuk  Provide isolation facility to employees and
karyawan dan keluarga yang tidak memiliki families who do not have sufficient isolation
fasilitas isolasi mandiri yang memadai. facilities at home.
 Membangun kesiapan tim kritikal operations  Establish the readiness to critical operations
yang melakukan transaksi keuangan dan team to carry their functions from home.
fungsi kritikal lainnya untuk dapat melakukan Risk review were conducted, and some risk
mitigation are in place to reduce the risks
fungsi tersebut dari rumah. Untuk itu telah
related with the critical functions.
dilakukan reviu risiko dan berbagai mitigasi
untuk memperkecil risiko pelanggaran atas
transaksi tersebut.
51. NILAI WAJAR ATAS ASET KEUANGAN DAN 51. FAIR VALUE OF FINANCIAL ASSETS AND
LIABILITAS KEUANGAN FINANCIAL LIABILITIES
Nilai wajar instrumen keuangan Fair value of financial instruments
Sebagian besar instrumen keuangan pada laporan posisi A significant number of financial instruments are carried at
keuangan konsolidasian disajikan menggunakan nilai wajar. fair value in the consolidated statements of financial
Berikut ini adalah perbandingan antara nilai tercatat, seperti position. Below is the comparison of the carrying amounts,
yang dilaporkan pada laporan posisi keuangan konsolidasian as reported on the consolidated statements of financial
dan nilai wajarnya. position, and their fair values.
Pada tabel berikut ini, instrumen keuangan telah dialokasikan In the following table, financial instruments have been
berdasarkan klasifikasinya. Kebijakan akuntansi penting categorized based on their classification. The significant
pada Catatan 2f menjelaskan bagaimana setiap kategori accounting policies in Note 2f describe how the categories
aset keuangan dan liabilitas keuangan diukur dan of the financial assets and financial liabilities are measured
bagaimana pendapatan dan beban, termasuk keuntungan and how income and expenses, including fair value gains
dan kerugian atas nilai wajar (perubahan nilai wajar and losses (changes in fair value of financial instruments),
instrumen keuangan) diakui. are recognized.

701



LIABILITAS KEUANGAN (lanjutan) FINANCIAL LIABILITIES (continued)
Nilai wajar instrumen keuangan (lanjutan) Fair value of financial instruments (continued)
Pengelompokan aset keuangan telah diklasifikasikan Financial assets have been classified into fair value through
menjadi aset keuangan yang diukur pada nilai wajar melalui profit or loss; fair value through other comprehensive
laba rugi; nilai wajar melalui penghasilan komprehensif lain; income; amortized cost. Similarly, each class of financial
dan biaya perolehan diamortisasi. Sama halnya dengan liability has been classified into fair value through profit or
setiap liabilitas keuangan yang juga telah diklasifikasikan loss and amortized cost.
menjadi yang diukur pada nilai wajar melalui laba rugi dan
biaya perolehan diamortisasi.
Nilai wajar pada tanggal laporan posisi keuangan The fair values are based on relevant information available
konsolidasian adalah berdasarkan informasi yang tersedia as of the consolidated statement of financial position date
dan belum diperbaharui untuk merefleksikan perubahan and have not been updated to reflect changes in market
keadaan pasar setelah tanggal laporan posisi keuangan. condition after the statement of financial position date.
Tabel berikut ini merupakan nilai tercatat dan nilai wajar dari The table below sets out the carrying amounts and fair
aset keuangan dan liabilitas keuangan pada tanggal values of the financial assets and liabilities as of
31 Desember 2021 dan 2020. 31 December 2021 and 2020.
2021
Nilai tercatat/Carrying amount
Nilai wajar
melalui
penghasilan
Nilai wajar komprehensif Biaya Jumlah nilai
melalui laba lain/Fair value perolehan tercatat/
rugi/Fair value through other diamortisasi Total
through profit comperhensive /Amortized carrying Nilai wajar/
or loss income cost amount Fair value
Kas - - 2.789.555 2.789.555 2.789.555 Cash
Giro pada Bank Indonesia - neto - - 3.060.014 3.060.014 3.060.014 Current accounts with Bank Indonesia - net
Giro pada bank lain - neto - - 2.977.634 2.977.634 2.977.634 Current accounts with other banks - net
dan Bank Indonesia - neto - - 9.888.484 9.888.484 9.888.484 and Bank Indonesia - net
Efek-efek - neto 4.999 3.473.459 2.035.585 5.514.043 5.514.043 Marketable securities - net
dijual kembali - - 3.308.308 3.308.308 3.308.308 resale agreements
Obligasi Pemerintah 1.926.156 28.411.581 - 30.337.737 30.337.737 Government Bonds
Tagihan derivatif 187.297 - - 187.297 187.297 Derivative receivables
Pinjaman yang diberikan - neto - - 99.965.961 99.965.961 99.907.326 Loans - net
Piutang pembiayaan
konsumen - neto - - 19.958.199 19.958.199 20.052.526 Consumer financing receivables -net
Piutang sewa pembiayaan - neto - - 280.613 280.613 277.073 Finance lease receivables - net
Tagihan akseptasi - neto - - 2.058.574 2.058.574 2.058.574 Acceptance receivables - net
Investasi dalam saham - 82.078 - 82.078 82.078 Investments in shares
Investasi pada entitas asosiasi - 949.009 - 949.009 949.009 Investment in associate
Aset lain-lain - neto - - 1.131.457 1.131.457 1.131.457 Other assets - net

Simpanan nasabah - - 121.069.317 121.069.317 121.069.317 Deposits from customers
Simpanan dari bank lain - - 2.284.587 2.284.587 2.284.587 Deposits from other banks
Utang akseptasi - - 2.061.194 2.061.194 2.061.194 Acceptance payables
Utang obligasi - - 6.348.234 6.348.234 6.652.556 Bonds payable
Sukuk mudharabah - - 402.000 402.000 414.025 Mudharabah bonds
Pinjaman yang diterima - - 4.275.546 4.275.546 4.275.546 Borrowings
Liabilitas derivatif 277.212 - - 277.212 277.212 Derivative liabilities
Pinjaman Subordinasi - - 25.000 25.000 25.000 Subordinated Loan
Liabilitas lain-lain - - 2.824.440 2.824.440 2.824.440 Other liabilities

702

51. NILAI WAJAR ATAS ASET KEUANGAN DAN LIABILITAS 51. FAIR VALUE OF FINANCIAL ASSETS AND
KEUANGAN (lanjutan) FINANCIAL LIABILITIES (continued)
2020
Nilai tercatat/Carrying amount
Nilai wajar
melalui
penghasilan
Nilai wajar komprehensif Biaya Jumlah nilai
melalui laba lain/Fair value perolehan tercatat/
rugi/Fair value through other diamortisasi Total
through profit comperhensive /Amortized carrying Nilai wajar/
or loss income cost amount Fair value
Kas - - 2.838.127 2.838.127 2.838.127 Cash
Giro pada Bank Indonesia - neto - - 2.185.998 2.185.998 2.185.998 Current accounts with Bank Indonesia - net
Giro pada bank lain - neto - - 4.417.073 4.417.073 4.417.073 Current accounts with other banks - net
dan Bank Indonesia - neto - - 7.303.551 7.303.551 7.303.551 and Bank Indonesia - net
Efek-efek - neto 5.208 3.334.669 1.349.394 4.689.271 4.689.271 Marketable securities - net
dijual kembali - - 12.126.419 12.126.419 12.126.419 resale agreements
Obligasi Pemerintah 2.758.074 22.776.561 - 25.534.635 25.534.635 Government Bonds
Tagihan derivatif 362.482 - - 362.482 362.482 Derivative receivables
Pinjaman yang diberikan - neto - - 103.937.018 103.937.018 103.725.129 Loans - net
Piutang pembiayaan
konsumen - neto - - 22.605.362 22.605.362 22.306.697 Consumer financing receivables - net
Piutang sewa pembiayaan - neto - - 246.644 246.644 235.498 Finance lease receivables - net
Tagihan akseptasi - neto - - 1.592.400 1.592.400 1.592.400 Acceptance receivables - net
Investasi dalam saham - 107.213 - 107.213 107.213 Investments in shares
Investasi pada entitas asosiasi - 924.518 - 924.518 924.518 Investment in associate
Aset lain-lain - neto - - 2.201.080 2.201.080 2.201.080 Other assets - net

Simpanan nasabah - - 123.733.204 123.733.204 123.733.204 Deposits from customers
Simpanan dari bank lain - - 2.477.725 2.477.725 2.477.725 Deposits from other banks
Utang akseptasi - - 1.597.504 1.597.504 1.597.504 Acceptance payables
Utang obligasi - - 7.913.559 7.913.559 8.201.666 Bonds payable
Sukuk mudharabah - - 478.000 478.000 491.296 Mudharabah bonds
Pinjaman yang diterima - - 8.952.442 8.952.442 8.952.475 Borrowings
Liabilitas derivatif 674.240 - - 674.240 674.240 Derivative liabilities
Pinjaman Subordinasi - - 25.000 25.000 25.000 Subordinated Loan
Liabilitas lain-lain - - 3.380.922 3.380.922 3.380.922 Other liabilities
Metode dan asumsi yang digunakan untuk estimasi nilai The following methods and assumptions are used to
wajar adalah sebagai berikut: estimate the fair values:
 Nilai wajar aset keuangan dan liabilitas keuangan, kecuali  The fair values of financial assets and liabilities, except
efek-efek dimiliki hingga jatuh tempo, pinjaman yang for held-to-maturity marketable securities, loans with
diberikan yang mempunyai risiko nilai wajar, piutang fair value risk, consumer financing receivables, finance
pembiayaan konsumen, piutang sewa pembiayaan, efek lease receivables, securities issued, and borrowings,
yang diterbitkan, dan pinjaman yang diterima, mendekati approximated the carrying amounts largely due to the
nilai tercatatnya karena mempunyai jangka waktu tempo short-term maturities of these instruments and/or
yang singkat atas instrumen keuangan tersebut dan/atau repricing of interest rate frequently.
suku bunganya sering ditinjau ulang.
 Nilai wajar efek-efek dimiliki hingga jatuh tempo dan efek  The fair values of held-to-maturity marketable
yang diterbitkan ditentukan berdasarkan harga kuotasi securities and securities issued were determined on
pasar yang berlaku pada tanggal 31 Desember 2021 the basis of quoted market price as of 31 December
dan 2020. 2021 and 2020.
 Nilai wajar pinjaman yang diberikan yang mempunyai  The fair values of loans with fair value risk, consumer
risiko nilai wajar, piutang pembiayaan konsumen, piutang financing receivables, finance lease receivables, and
sewa pembiayaan, dan pinjaman yang diterima dinilai borrowings are determined by discounting cash flows
menggunakan diskonto arus kas berdasarkan tingkat using market interest rate as of 31 December 2021 and
suku bunga pasar pada tanggal 31 Desember 2021 dan 2020.
2020.

703


 Nilai wajar investasi dalam saham dinilai sebesar biaya  The fair value of investments in shares is the same as
perolehannya karena nilai wajarnya tidak dapat diukur the cost since fair value cannot be reliably measured,
secara andal, kecuali untuk investasi dalam saham except for certain investment in shares that has quoted
tertentu yang memiliki harga kuotasi dicatat sebesar price was determined on the basis of quoted market
harga kuotasi pasar yang berlaku. price.
Hirarki nilai wajar instrumen keuangan Fair value hierarchy of financial instruments
Tabel berikut ini merupakan hirarki nilai wajar dari aset The table below sets out the fair values hierarchy of the
keuangan dan liabilitas keuangan pada tanggal financial assets and liabilities as of 31 December 2021 and
31 Desember 2021 dan 2020. 2020.
a. Aset keuangan a. Financial assets
Pengukuran nilai wajar pada tanggal pelaporan menggunakan/

Fair value measurement as of reporting date using:
Tingkat/ Tingkat/ Tingkat/
2021 Level 1 Level 2 Level 3
Aset keuangan yang Financial asset measured
diukur pada nilai wajar - neto at fair value - net
Nilai wajar melalui laba rugi: Fair value through profit or loss:
Efek-efek 4.999 - 4.999 - Marketable securities
Tagihan Derivatif 187.297 - 187.297 - Derivative receivables
Obligasi Pemerintah 1.926.156 1.926.156 - - Government Bonds
komprehensif lain: comprehensive income:
Efek-efek 3.473.459 - 3.473.459 - Marketable securities
Investasi dalam saham 82.078 78.198 - 3.880 Investments in shares
Investasi pada entitas asosiasi 949.009 - - 949.009 Investment in associate
Aset keuangan yang Financial asset of which the
nilai wajarnya diungkapkan - neto fair value is disclosed - net
Biaya perolehan diamortisasi: At amortized cost:
Pinjaman yang diberikan 99.907.326 - 98.504.385 1.402.941 Loans
Piutang pembiayaan konsumen 20.052.526 - 20.052.526 - Consumer financing receivables
Piutang sewa pembiayaan 277.073 - 277.073 - Finance lease receivables

Aset keuangan yang Financial asset measured
diukur pada nilai wajar - neto at fair value - net
Efek-efek 5.208 - 5.208 - Marketable securities
Tagihan Derivatif 362.482 - 362.482 - Derivative receivables
Investasi dalam saham 107.213 103.333 - 3.880 Investments in shares
Investasi pada entitas asosiasi 924.518 - - 924.518 Investment in associate
Aset keuangan yang Financial asset of which the
nilai wajarnya diungkapkan - neto fair value is disclosed - net
Pinjaman yang diberikan 103.725.129 - 102.844.633 880.496 Loans
Piutang pembiayaan konsumen 22.306.697 - 22.306.697 - Consumer financing receivables
Piutang sewa pembiayaan 235.498 - 235.498 - Finance lease receivables

704

Hirarki nilai wajar instrumen keuangan (lanjutan) Fair value hierarchy of financial instruments
(continued)
b. Liabilitas keuangan b. Financial liabilities

Liabilitas keuangan yang Financial liability measured
diukur pada nilai wajar at fair value
Liabilitas derivatif 277.212 - 277.212 - Derivative liabilities
Liabilitas keuangan yang Financial liability which

nilai wajarnya diungkapkan fair value is disclosed
Utang obligasi 6.652.556 - 6.652.556 - Bonds payable
Sukuk mudharabah 414.025 - 414.025 - Mudharabah bonds
Pinjaman yang diterima 4.275.546 - 4.275.546 - Borrowings

Liabilitas keuangan yang Financial liability measured
diukur pada nilai wajar at fair value
Liabilitas derivatif 674.240 - 674.240 - Derivative liabilities
Liabilitas keuangan yang Financial liability which

nilai wajarnya diungkapkan fair value is disclosed
Utang obligasi 8.201.666 - 8.201.666 - Bonds payable
Sukuk mudharabah 491.296 - 491.296 - Mudharabah bonds
Pinjaman yang diterima 8.952.475 - 8.952.475 - Borrowings
Pada tanggal 31 Desember 2021 dan 2020, tidak ada aset As of 31 December 2021 and 2020, there are no financial
keuangan atau liabilitas keuangan yang ditransfer dari atau assets and financial liabilities transfer out of or into level 2
ke tingkat 2 dan/atau tingkat 3. and/or level 3.
52. AKTIVITAS FIDUCIARY 52. FIDUCIARY ACTIVITIES
Bank menyediakan jasa kustodian, agen sekuritas, trustee, The Bank provides custodial, securities agency, trustee,
pengelolaan investasi discretionary, dan reksadana kepada investment management discretionary, and mutual fund
pihak ketiga. Aset yang terdapat dalam aktivitas fiduciary services to third parties. Assets that are held in fiduciary
tidak termasuk dalam laporan keuangan konsolidasian ini. activities are not included in these consolidated financial
Jumlah komisi yang diterima dari pemberian jasa ini untuk statements. Total fees received from these services for the
tahun yang berakhir pada tanggal 31 December 2021 dan year ended 31 December 2021 and 2020 was Rp23,196
2020 adalah Rp23.196 dan Rp19.637. and Rp19,637, respectively.

705



53. BATAS MAKSIMUM PEMBERIAN KREDIT BANK 53. LEGAL LENDING LIMIT FOR COMMERCIAL BANKS
UMUM (“BMPK”) (“LLL”)
Pada tanggal 31 Desember 2021 dan 2020, tidak terdapat As of 31 December 2021 and 2020, there was no excess
pelampauan BMPK kepada pihak terkait maupun pihak tidak of LLL to both related parties and non-related parties.
terkait.
Bank telah menerapkan peraturan OJK The Bank has implemented OJK regulation
No.38/POJK.03/2017 tentang penerapan manajemen risiko No.38/POJK.3/2017 regarding the implementation of
secara konsolidasi bagi Bank yang melakukan pengendalian consolidated risk management to the Subsidiaries which
terhadap Perusahaan Anak dalam perhitungan BMPK Bank. are controlled by the Bank in the Bank’s LLL calculation.
Perhitungan BMPK 31 Desember 2021 dan 2020 disusun LLL calculation as of 31 December 2021 and 2020 are
berdasarkan: prepared based on:
- Peraturan OJK No.32/POJK.03/2018 tentang Batas - OJK Regulation No.32/POJK.03/2018 regarding
Maksimum Pemberian Kredit dan Penyediaan Dana Legal Lending Limit and Large Exposure for
Besar Bagi Bank Umum yang berlaku mulai 1 Juni Commercial Bank which is effective starting on 1 June
2019; dan 2019; and
- Peraturan OJK No.38/POJK.03/2019 tentang - OJK Regulation No.38/POJK.03/2019 regarding
Perubahan atas Peraturan OJK No.32/POJK.03/2018 Amendments of OJK Regulation
tentang Batas Maksimum Pemberian Kredit dan No.32/POJK.03/2018 regarding Legal Lending Limit
Penyediaan Dana Besar Bagi Bank Umum yang and Large Exposure for Commercial Bank which is
berlaku mulai 1 Januari 2020. effective starting on 1 January 2020.
Batas maksimum penyediaan dana diatur sebagai berikut: The maximum lending limit is as follows:
- kepada Pihak Terkait tidak melebihi 10% dari modal - to Related Parties not exceed than 10% from Bank’s
Bank; capital;
- kepada satu peminjam yang Bukan Pihak Terkait tidak - to one Non-Related Party debtor not exceed than
melebihi 25% dari modal inti Bank; 25% of the Bank’s tier 1 capital;
- kepada satu kelompok peminjam yang Bukan Pihak - to one Non-Related Party group debtors not exceed
Terkait tidak melebihi 25% dari modal inti Bank; dan than 25% of the Bank’s tier 1 capital; and
- kepada Badan Usaha Milik Negara (BUMN) untuk - to State Own Entities (SOE) for development purpose
tujuan pembangunan tidak melebihi 30% dari modal not exceed than 30% from Bank’s capital.
Bank.
54. MANAJEMEN PERMODALAN 54. CAPITAL MANAGEMENT
Penerapan Bank atas risiko pasar, risiko kredit, dan risiko The Bank implementation on market risk, credit risk, and
operasional dalam permodalan adalah sebagai berikut: operational risk in capital is as follows:
a. Risiko pasar a. Market risk
Bank telah menerapkan pendekatan standar untuk The Bank has adopted standardized approach for
mengelola risiko pasar sesuai Surat Edaran OJK market risk management in accordance with OJK
No.38/SEOJK.03/2016 tanggal 8 September 2016. Circular Letter No.38/SEOJK.03/2016 dated
8 September 2016.
b. Risiko kredit b. Credit risk
Bank telah menerapkan pendekatan standar untuk The Bank has adopted standardized approach for
mengelola risiko kredit sesuai dengan Surat Edaran credit risk management in accordance with OJK
OJK No.42/SEOJK.03/2016 tanggal 28 September Circular Letter No.42/SEOJK.03/2016 dated
2016 serta perubahannya sesuai Surat Edaran OJK 28 September 2016 and its amendments in
No.11/SEOJK.03/2018 tanggal 15 Agustus 2018. accordance with OJK Circular Letter
No.11/SEOJK.03/2018 dated 15 August 2018.

706

54. MANAJEMEN PERMODALAN (lanjutan) 54. CAPITAL MANAGEMENT (continued)
c. Risiko operasional (lanjutan) c. Operational risk (continued)
Untuk pengelolaan risiko operasional Bank masih For operational risk management, the Bank still
menerapkan pendekatan indikator dasar sesuai Surat uses basic indicator approach as per OJK Circular
Edaran OJK No.24/SEOJK.03/2016 tanggal 14 Juli Letter No.24/SEOJK.03/2016 dated 14 July 2016.
2016.
Untuk Kewajiban Penyediaan Modal Minimum (KPMM), The Capital Adequacy Ratio (CAR) calculation made by the
Bank telah melakukan perhitungan sesuai Peraturan OJK Bank is in accordance with OJK regulation
(POJK) No.11/POJK.03/2016 tanggal 29 Januari 2016 serta No.11/POJK.03/2016 dated 29 January 2016 and its
perubahannya sesuai Peraturan OJK (POJK) amendments in accordance with OJK regulation
No.34/POJK.03/2016 tanggal 22 September 2016. Struktur No.34/POJK.03/2016 dated 22 September 2016. The
permodalan Bank saat ini terdiri dari: current Bank capital structure consists of:
i. Modal inti (tier 1) terdiri dari komponen-komponen yang i. Core capital (tier 1) consists of components which are
seluruhnya termasuk dalam modal inti utama (common included in main core capital (common equity tier 1).
equity tier 1).
Modal inti (tier 1) tersebut terdiri dari modal disetor dan The core capital (tier 1) comprises of paid-up
cadangan tambahan modal dikurangi dengan capital and disclosed reserves less deductions for
perhitungan pajak tangguhan, aset tidak berwujud dan deferred tax, intangible assets and investment in
penyertaan di entitas anak. subsidiaries.
Cadangan tambahan modal terdiri dari agio saham, Disclosed reserve consists of additional paid up
cadangan umum, laba tahun-tahun lalu, laba tahun capital, general reserves, prior year profit, current
berjalan, penghasilan komprehensif lainnya, dikurangi year profit, other comprehensive income less
selisih kurang antara PPA dan kerugian kredit shortage in regulatory provision on allowance for
ekspektasian atas aset produktif, dan PPA atas aset impairment loss for productive assets and non-
non produktif yang wajib dihitung. productive assets.
ii. Modal pelengkap (tier 2) terdiri dari cadangan umum ii. Supplementary capital (tier 2) comprises the
PPA atas aset produktif yang wajib dibentuk regulatory provision general reserve on productive
(maksimum 1,25% dari ATMR untuk risiko kredit) dan assets (maximum 1.25% from RWA for credit risk)
instrumen modal dalam bentuk pinjaman subordinasi and subordinated loan which is qualified as capital
yang memenuhi persyaratan tier 2. instrument in tier 2.
Selain itu, sesuai dengan PBI No.17/22/PBI/2015 tanggal Furthermore, according to BI Regulation
23 Desember 2015 tentang Kewajiban Pembentukan No.17/22/PBI/2015 dated 23 December 2015 about
Countercyclical Buffer dan POJK No.2/POJK.03/2018 Countercyclical Buffer Requirement and OJK regulation
tanggal 26 Juni 2018 tentang Penetapan Systemically No.2/POJK.03/2018 dated 26 June 2018 about Stipulation
Important Bank dan Capital Surcharge, Bank wajib of Systemically Important Bank and Capital Surcharge,
membentuk tambahan modal sebagai penyangga (buffer) Bank need to provide additional capital buffers and capital
dan capital surcharge yang telah berlaku penuh sejak surcharge which fully implemented since
1 Januari 2019. 1 January 2019.
Hasil penilaian menunjukkan bahwa Bank mampu The assessment result shows that the Bank has met the
memenuhi ketentuan KPMM minimum sesuai dengan profil minimum CAR in accordance to its risk profile, and met
risiko, dan mampu memenuhi ketentuan tambahan modal additional capital buffers requirement and capital
(buffer) dan capital surcharge, baik untuk Bank maupun surcharge, both on standalone and consolidated basis.
konsolidasi.

707


54. MANAJEMEN PERMODALAN (lanjutan) 54. CAPITAL MANAGEMENT (continued)
Berikut adalah posisi modal berdasarkan peraturan BI dan The following is the Bank’s capital position based on BI and
OJK pada tanggal 31 Desember 2021 dan 2020: OJK regulation as of 31 December 2021 and 2020:
2021 2020
Bank Bank
Dengan memperhitungkan risiko kredit, With credit risk, market risk
risiko pasar dan risiko operasional and operational risk
- Aset Tertimbang Menurut Risiko 122.255.943 125.974.355 Risk Weighted Assets -
- Jumlah modal 32.251.735 32.236.393 Total capital -
- Rasio Kewajiban Penyediaan Minimum Capital Adequacy -
Modal Minimum 26,38% 25,59% Requirement Ratio
Bank dan Entitas Anak Bank and Subsidiaries

Dengan memperhitungkan risiko kredit, With credit risk, market risk
risiko pasar dan risiko operasional and operational risk
- Aset Tertimbang Menurut Risiko 150.731.797 157.250.615 Risk Weighted Assets -
- Jumlah modal 40.275.907 39.277.601 Total capital -
- Rasio Kewajiban Penyediaan Minimum Capital Adequacy -
Modal Minimum 26,72% 24,98% Requirement Ratio
Manajemen permodalan dilakukan dengan memonitor Capital management is done through monitoring the capital
jumlah modal dan rasio modal secara berkala dengan base and capital ratios based on industry standards in order
mengikuti standar industri guna mengukur kecukupan to measure capital adequacy. BI’s and OJK’s approach to
permodalan. Pendekatan BI dan OJK atas pengukuran such measurement is primarily based on measurement and
tersebut terutama berdasarkan pengukuran dan monitoring the minimum capital requirement to the available
pemantauan atas kebutuhan modal minimum terhadap capital resources.
ketersediaan sumber modal.
Bank telah memenuhi ketentuan BI dan OJK yang berlaku The Bank has fulfilled the BI’s and OJK’s regulation
tentang Kewajiban Penyediaan Modal Minimum (KPMM) regarding the Minimum Capital Adequacy Requirement
dan perhitungan Aktiva Tertimbang Menurut Risiko (ATMR). (CAR) and calculation of Risk Weighted Assets (RWA).
Bank juga telah menerapkan mekanisme Internal Capital The Bank has also implemented Internal Capital Adequacy
Adequacy Assessment Process (ICAAP) yaitu merupakan Assessment Process (ICAAP) mechanism, which is self
proses penilaian sendiri oleh Bank dimana tidak hanya assessment process by Bank where it does not only cover
meliputi kecukupan modal dari risiko-risiko dasar dalam Pilar capital adequacy from basic risks under Pillar I (Credit,
I (Risiko Kredit, Pasar dan Operasional) tetapi juga Market and Operational Risk) but also take into
mempertimbangkan kecukupan modal untuk risiko-risiko consideration capital adequacy of other risks (Credit
lainnya (Risiko Konsentrasi Kredit, Risiko Suku Bunga Buku Concentration Risk, Banking Book Interest Risk, Liquidity
Bank, Risiko Likuiditas dan Dampak dari Stress Test) seperti Risk and Stress Test Impact) as specified in Pillar 2 Basel II
disebutkan dalam Pilar 2 Basel II dan ketentuan OJK. & OJK’s regulation.
Sebagai bagian dari Pilar 3 Basel II, Keterbukaan dan Disiplin As part of Pillar 3 Basel II, Disclosure and Market Discipline
Pasar juga diterapkan oleh Bank mulai dari tahun 2012 is also implemented by the Bank starting 2012 through its
melalui publikasi Laporan Tahunan sesuai ketentuan OJK. Annual Report publication as per OJK regulation.

708

55. ASET DAN LIABILITAS DALAM MATA UANG ASING 55. ASSETS AND LIABILITIES IN FOREIGN
CURRENCIES
Saldo aset dan liabilitas moneter dalam mata uang asing The balances of monetary assets and liabilities in foreign
adalah sebagai berikut: currencies are as follows:
Mata uang asing Ekuivalen Rupiah

(dalam ribuan)/ (dalam jutaan)/
Foreign currency Rupiah equivalent
(in thousand) (in million)
2021 2020 2021 2020
Aset Assets
Kas Cash
Dolar Amerika Serikat 10.444 15.016 148.859 210.976 United States Dollar
Dolar Singapura 2.298 5.260 24.252 55.791 Singapore Dollar
Dolar Australia 1.179 2.027 12.196 21.792 Australian Dollar
Yen Jepang 39.105 35.958 4.840 4.889 Japanese Yen
Euro Eropa 236 138 3.808 2.381 European Euro
Poundsterling Inggris 103 104 1.978 1.972 Great Britain Poundsterling
195.933 297.801
Current accounts with
Giro pada Bank Indonesia Bank Indonesia

Giro pada bank lain banks
Euro Eropa 19.505 7.111 314.273 122.551 European Euro
Poundsterling Inggris 9.592 2.933 184.660 55.757 Great Britain Poundsterling
Yen Jepang 1.434.201 474.512 177.511 64.517 Japanese Yen
Yuan China 33.897 61.264 75.810 132.146 China Yuan
Dolar Selandia Baru 3.537 1.960 34.425 19.775 New Zealand Dollar
Swiss Franc 941 95 14.664 1.518 Swiss Franc
Krona Swedia 1.344 - 2.111 - Swedish Krona
Dolar Hongkong 1.010 1.830 1.847 3.317 Hongkong Dollar
Dolar Kanada 60 78 673 853 Canadian Dollar
Baht Thailand 1.325 6.306 568 2.952 Thailand Baht
Lain-lain 1.047 1.473 2.531 3.323 Others
2.039.810 1.296.809

lain dan Bank Indonesia banks and Bank Indonesia
Dolar Amerika Serikat 240.000 272.000 3.420.600 3.821.600 United States Dollar
Dolar Singapura - 8.000 - 84.849 Singapore Dollar
3.420.600 3.906.449
Efek-efek Marketable securities

Tagihan derivatif Derivative receivables

Dolar Amerika Serikat 91 307 1.298 4.308 United States Dollar
Yuan China 76 13 171 27 China Yuan
Lain-lain 1 - 18 - Others
1.487 4.335

709



55. ASET DAN LIABILITAS DALAM MATA UANG ASING 55. ASSETS AND LIABILITIES IN FOREIGN CURRENCIES

2021 2020 2021 2020
Aset (lanjutan) Assets (continued)
Pinjaman yang diberikan Loan

Dolar Australia 522 3.127 5.396 33.623 Australian Dollar
Euro Eropa 50 5.042 808 86.893 European Euro
Yen Jepang - 3.508 - 477 Japanese Yen
Yuan China - 2.585 - 5.558 China Yuan
11.206.809 10.711.797
Tagihan akseptasi Acceptance receivables

Yen Jepang 98.295 1.077.446 12.166 146.495 Japanese Yen
1.761.218 1.479.157
Obligasi Pemerintah Government Bonds

Beban dibayar dimuka Prepayments and other

dan aset lain-lain assets
Lain-lain 18 54 194 539 Others
339.185 73.584
Jumlah aset 24.358.485 22.653.256 Total assets
Liabilitas Liabilities

Dolar Amerika Serikat 1.281.114 898.497 18.259.072 12.623.880 United States Dollar
Euro Eropa 19.295 8.355 310.884 143.995 European Euro
Poundsterling Inggris 9.602 1.980 184.854 37.646 Great Britain Poundsterling
Yen Jepang 978.088 516.729 121.058 70.257 Japanese Yen
Dolar Selandia Baru 8.172 255 79.532 2.568 New Zealand Dollar
Swiss Franc 309 - 4.811 - Swiss Franc
19.848.858 13.657.006
Simpanan dari Bank lain Deposits from Other Banks

Dolar Amerika Serikat 1.064 362 15.171 5.080 United States Dollar

710

55. ASET DAN LIABILITAS DALAM MATA UANG ASING 55. ASSETS AND LIABILITIES IN FOREIGN
(lanjutan) CURRENCIES (continued)
2021 2020 2021 2020
Liabilitas (lanjutan) Liabilities (continued)

Yen Jepang 98.295 1.077.446 12.166 146.495 Japanese Yen
1.761.218 1.479.157
Pinjaman yang diterima Borrowings

Dolar Amerika Serikat 577 21 8.223 302 United States Dollar
Dolar Selandia Baru 602 - 5.857 - New Zealand Dollar
Poundsterling Inggris 286 - 5.503 - Great Britain Poundsterling
Dolar Australia 231 - 2.388 - Australian Dollar
Yen Jepang 8.378 - 1.037 - Japanese Yen
Euro Eropa 27 - 429 - European Euro
Yuan China - 356 - 767 China Yuan
Lain-lain - 1 - 13 Others
23.437 1.082
Beban yang masih

harus dibayar dan Accruals and other
liabilitas lain liabilities
Dolar Singapura 278 204 2.933 2.167 Singapore Dollar
Yuan China 498 892 1.114 1.918 China Yuan
Euro Eropa 41 153 656 2.638 European Euro
Yen Jepang 727 61.185 90 8.319 Japanese Yen
Lain-lain 31 53 443 765 Others
55.479 84.337
Jumlah liabilitas 24.881.282 22.737.558 Total liablilities
Posisi Aset Assets (Liabilities)

(Liabilitas)- neto (522.797) (84.302) position - net
Dalam melakukan transaksi dalam mata uang asing, Bank In conducting foreign currency transactions, the Bank has a
memiliki kebijakan untuk memelihara posisi devisa neto policy of maintaining net open position as required by BI
sesuai dengan peraturan BI yakni setinggi-tingginya sebesar regulation at the maximum 20% of the total Tier I and Tier II
20% dari jumlah modal Tier I dan Tier II. Berdasarkan capital. Based on this policy, the Bank will hedge or square
kebijakan ini, Bank akan melakukan lindung nilai atau its open position, if necessary, within the limit as per BI
melakukan square atas posisi yang dimiliki jika diperlukan regulation.
untuk menjaga agar posisi devisa neto masih dalam limit
sesuai peraturan BI.

711



56. INFORMASI KEUANGAN TAMBAHAN UNIT SYARIAH 56. SUPPLEMENTARY FINANCIAL INFORMATION
SHARIA UNIT
Informasi keuangan Unit Usaha Syariah disajikan sesuai Financial information of Sharia Business Unit is presented
dengan Salinan Surat Edaran OJK No.10/SEOJK.03/2017 in accordance with a Copy of the Circular Letter of OJK
tanggal 24 Februari 2017 tentang Transparansi dan Publikasi No.10/SEOJK.03/2017 dated 24 February 2017 regarding
Bank Umum Syariah dan Unit Usaha Syariah. Transparency and Publication of Sharia Bank and Sharia
Business Unit.
2021 2020
ASET ASSETS
Kas 46.688 29.059 Cash
Penempatan pada Bank
Indonesia 966.780 581.578 Placements with Bank Indonesia
Pembiayaan berbasis piutang*) 4.047.987 2.193.952 Financing receivables*)
Pembiayaan bagi hasil 3.298.163 4.182.383 Profit sharing financing
Pembiayaan sewa 487.719 604.181 Lease financing
Aset tetap dan inventaris 7.610 7.449 Fixed assets and equipment
Aset non produktif 25.951 24.673 Non earning asset
Aset lainnya 53.355 56.594 Other assets

Dana simpanan wadiah 416.432 590.797 Wadiah saving
Dana investasi non profit sharing 4.011.984 4.894.669 Non profit sharing investment funds
Liabilitas kepada bank lain 619.583 590.559 Liabilities to other banks
Liabilitas lainnya 17.202 80.736 Other liabilities
Dana usaha 3.448.974 1.238.681 Working fund
Saldo laba 158.911 45.489 Retained earnings
JUMLAH LIABILITAS DAN
EKUITAS 8.673.086 7.440.931 TOTAL LIABILITIES AND EQUITY
*) Pada tanggal 31 Desember 2021 dan 2020, jumlah *) As of 31 December 2021 and 2020, the total iB receivable
piutang iB tidak termasuk marjin yang belum diterima excludes margin to be received of Rp754,708 and
masing-masing sebesar Rp754.708 dan Rp439.097. Rp439,097, respectively.

712

56. INFORMASI KEUANGAN TAMBAHAN UNIT SYARIAH 56. SUPPLEMENTARY FINANCIAL INFORMATION
(lanjutan) SHARIA UNIT (continued)
2021 2020
PENDAPATAN DAN BEBAN OPERASIONAL OPERATING INCOME AND EXPENSES
Pendapatan dan beban operasional Operating Income and expenses
dari penyaluran dana from fund distribution
Pendapatan penyaluran dana Income from distribution of fund
Pendapatan dari piutang 411.419 198.866 Income from receivables
Pendapatan dari bagi hasil 286.167 293.294 Income from profit sharing
Lainnya 49.301 54.232 Others
Bagi hasil untuk pemilik dana investasi Margin distribution to owners of

non profit sharing (127.825) (181.309) investment funds non profit sharing
Pendapatan setelah distribusi bagi hasil 619.062 365.083 Income after margin distribution
Pendapatan dan beban operasional Other operating income and

selain penyaluran dana expenses except fund distribution
Keuntungan penjabaran Gains on foreign
transaksi valuta asing - 24 currency translation
Pendapatan operasional lainnya Other operating income
Komisi/provisi/imbalan Commission/provision/fee
dan administrasi 8.633 14.687 and administrative
Pendapatan lainnya 113.503 34.114 Other income
Beban operasional lainnya Other operating expense
Beban bonus wadiah (5.215) (11.351) Wadiah bonus expenses
Kerugian penurunan nilai aset keuangan (394.865) (226.821) Impairment losses on financial assets
Kerugian terkait risiko operasional (1) (27) Losses on operational risk
Beban tenaga kerja (63.383) (52.786) Salaries and employee benefits
Beban lainnya (66.778) (60.003) Other expense
Beban operasional lainnya (408.106) (302.163) Other operating expenses
LABA OPERASIONAL 210.956 62.920 OPERATING PROFIT
PENDAPATAN DAN BEBAN NON OPERATING INCOME

NON OPERASIONAL AND EXPENSES
Keuntungan/(kerugian) penjualan aset Gains/(losses) from sale of premises
tetap dan inventaris 13 (23) and equipment
Beban non operasional lainnya (6.947) (4.543) Non operating expenses
RUGI NON OPERASIONAL (6.934) (4.566) NON OPERATING LOSS
LABA TAHUN INCOME FOR THE YEAR ENDED

BERJALAN SEBELUM PAJAK 204.022 58.354 BEFORE TAX
Pajak penghasilan (45.111) (12.865) Income tax
LABA TAHUN INCOME FOR THE YEAR ENDED

BERJALAN SETELAH PAJAK BERSIH 158.911 45.489 NET OF TAX

713



57. AKTIVITAS INVESTASI NON-KAS 57. NON-CASH INVESTING ACTIVITY
2021 2020
Aktivitas investasi non-kas: Non-cash investing activities:
Pembelian aset tetap yang masih terutang 1.282 1.120 Acquisition of fixed assets still unpaid
Pembelian aset takberwujud yang masih Acquisition of intangible assets
terutang 838 371 which is still payble
Kerugian penghapusan aset tetap Loss on write off of fixed assets
dan perangkat lunak 1.096 2.081 and software
58. STANDAR AKUNTANSI YANG TELAH DISAHKAN 58. ACCOUNTING STANDARDS ISSUED BUT NOT YET
NAMUN BELUM BERLAKU EFEKTIF EFFECTIVE
Berikut ini ikhtisar Pernyataan Standar Akuntansi Keuangan The following summarizes the Statements of Financial
(PSAK) yang telah disahkan oleh Dewan Standar Akuntansi Accounting Standards (PSAK) that are issued by the
Keuangan (DSAK) di Indonesia, yang relevan bagi Bank dan Indonesian Accounting Standards Board (DSAK) which
Entitas Anak tetapi belum berlaku efektif untuk laporan are relevant to the Bank and Subsidiaries, but not yet
keuangan konsolidasian untuk tahun yang berakhir pada effective for the consolidated financial statements for the
tanggal 31 Desember 2021: year ended 31 December 2021:
Standar yang akan berlaku efektif pada 1 Januari 2022: Standards will be effective on 1 January 2022:
- Amandemen PSAK 57: “Provisi, Liabilitas Kontinjensi, - Amendment PSAK 57: "Provisions, Contingent
dan Aset Kontinjensi tentang Kontrak Memberatkan - Liabilities and Contingent Assets: Onerous
Biaya Memenuhi Kontrak”; Contracts - Cost of Fulfilling the Contracts";
- Penyesuaian Tahunan 2020 PSAK 71: "Instrumen - Annual Improvement for 2020 PSAK 71: "Financial
Keuangan"; Instruments";
- Penyesuaian Tahunan 2020 PSAK 73: "Sewa". - Annual Improvement for 2020 PSAK 73: "Lease".
- Amandemen PSAK 22: "Kombinasi Bisnis". - Amendment PSAK 22: "Business Combination".
Standar yang akan berlaku efektif pada 1 Januari 2023: Standards will be effective on 1 January 2023:
- Amandemen PSAK 1 “Penyajian Laporan - Amendment to PSAK 1 “Presentation of Financial

Keuangan” tentang Klasifikasi Liabilitas sebagai Statement” related to Liabilities Classification as
Jangka Pendek atau Jangka Panjang dan Short or Long-term and Disclosure of Accounting
Pengungkapan Kebijakan Akuntansi; Policies;
- Amandemen PSAK 16 “Aset Tetap” tentang Hasil - Amendment to PSAK 16 “Property, Plant and
Sebelum Penggunaan Yang Diintensikan. Equipment” related to Proceeds before Intended
Use.
- Amandemen PSAK 25 “Kebijakan Akuntansi, - Amendment to PSAK 25 “Accounting Policies,
Changes in Accounting Estimates and Errors”
Perubahan Estimasi Akuntansi, dan Kesalahan”
related to Definition of Accounting Estimates;
tentang Definisi Estimasi Akuntansi;
Pada saat penerbitan laporan keuangan konsolidasian, Bank As of the authorization date of these consolidated financial
dan Entitas Anak masih mengevaluasi dampak yang statements, the Bank and Subsidiaries are still evaluating
mungkin timbul dari penerapan standar baru dan revisi the potential impact of these new and revised standards to
tersebut serta pengaruhnya terhadap laporan keuangan the consolidated financial statements.
konsolidasian.

714

59. REKONSILIASI AKTIVITAS PENDANAAN BERSIH 59. NET FINANCING ACTIVITIES RECONCILIATION
Rekonsiliasi dari aktivitas pendanaan adalah sebagai Reconciliation from financing activities are as follows:
berikut:
2021
Saldo awal/
Beginning Arus kas/ Lain-lain/ Saldo akhir/
balance Cashflow Others Ending balance
Pinjaman yang diterima 8.952.442 (4.891.676) 214.780 4.275.546 Borrowings

Utang obligasi 7.913.559 (1.573.406) 8.081 6.348.234 Bond payables
Sukuk mudharabah 478.000 (76.000) - 402.000 Mudharabah bonds
Pinjaman subordinasi 25.000 - - 25.000 Subordinated loan
Liabilitas sewa 244.063 (116.570) 73.157 200.650 Lease Liabilities
Jumlah liabilitas dari Total liabilities from

aktivitas pendanaan 17.613.064 (6.657.652) 296.018 11.251.430 financing activities
2020
Saldo awal/
Beginning Arus kas/ Lain-lain/ Saldo akhir/
balance Cashflow Others Ending balance
Pinjaman yang diterima 10.350.058 (1.417.945) 20.329 8.952.442 Borrowings

Utang obligasi 12.849.342 (4.946.713) 10.930 7.913.559 Bond payables
Sukuk mudharabah 597.000 (119.000) - 478.000 Mudharabah bonds
Pinjaman subordinasi 25.000 - - 25.000 Subordinated loan
Liabilitas sewa 287.583 (78.704) 35.184 244.063 Lease Liabilities
Jumlah liabilitas dari Total liabilities from

aktivitas pendanaan 24.108.983 (6.562.362) 66.443 17.613.064 financing activities
60. INFORMASI KEUANGAN TAMBAHAN 60. SUPPLEMENTARY FINANCIAL INFORMATION
Informasi yang disajikan pada lampiran 6/1 - 6/9 Information presented in schedule 6/1-6/9 are additional
merupakan informasi keuangan tambahan PT Bank financial informations of PT Bank Danamon Indonesia
Danamon Indonesia Tbk (Entitas Induk), yang menyajikan Tbk (Parent Company), which presented investment in
investasi pada Entitas Anak berdasarkan metode ekuitas Subsidiaries according to equity method and are an
dan merupakan bagian yang tidak terpisahkan dari integral part of the consolidated financial statements of
laporan keuangan konsolidasian PT Bank Danamon PT Bank Danamon Indonesia Tbk and Subsidiaries.
Indonesia Tbk dan Entitas Anak.

715
The original supplementary financial information included herein is in the
INFORMASI KEUANGAN TAMBAHAN/SUPPLEMENTARY FINANCIAL INFORMATION

____________________________________________________________________________________________
ENTITAS INDUK PARENT COMPANY
LAPORAN POSISI KEUANGAN STATEMENT OF FINANCIAL POSITION
Laporan keuangan Entitas Induk berikut ini, dimana tidak The following Parent Company-only financial statements,
termasuk saldo dari Entitas Anak, telah disajikan sesuai which exclude the balances of the Bank’s Subsidiaries, have
dengan kebijakan akuntansi yang konsisten dengan yang been prepared using the accounting policies that are
digunakan pada laporan keuangan konsolidasian Bank, consistent with those applied to the Bank’s consolidated
kecuali untuk investasi pada entitas anak yang disajikan financial statements, except for investments in subsidiaries,
berdasarkan metode ekuitas. Dampak perubahan pencatatan which have been presented using equity method. The impact
investasi pada Entitas Anak dari metode harga perolehan ke of changes in accounting policy for investments in shares of
metode ekuitas dibukukan sebagai bagian dari saldo laba Subsidiaries from cost method to equity method was booked
secara retrospektif. Informasi mengenai Entitas Anak as part of retained earnings retrospectively. Information
diungkapkan pada Catatan 1c atas laporan keuangan pertaining to Subsidiaries is disclosed in Note 1c to the Bank’s
konsolidasian Bank. consolidated financial statements.
2021 2020
ASET ASSETS
Kas 2.635.688 2.761.954 Cash
Giro pada bank lain, Current accounts with other banks,
setelah dikurangi kerugian net of expected credit losses of
kredit ekspektasian sebesar Rp1,589 as of
Rp1.589 pada tanggal 31 Desember 2021 31 December 2021
(2020: Rp1.514) (2020: Rp1,514)
- Pihak berelasi 176.543 5.201 Related parties -
Penempatan pada bank lain dan Placements with other banks and
Bank Indonesia, Bank Indonesia,
kredit ekspektasian sebesar Rp23 as of
Rp23 pada tanggal 31 Desember 2021 31 December 2021
(2020: Rp512) 9.888.484 7.303.551 (2020: Rp512)
Efek-efek, Marketable securities,
kredit ekspektasian sebesar Rp19,689 as of
Rp19.689 pada tanggal 31 Desember 2021 31 December 2021
(2020: Rp11.840) (2020: Rp11,840)
Obligasi Pemerintah 30.337.737 25.534.635 Government Bonds
Efek yang dibeli
dengan janji dijual kembali 3.308.308 12.126.419 Securities purchased under resale agreements
Tagihan derivatif 182.737 360.633 Derivative receivables
Pinjaman yang diberikan, setelah dikurangi Loans,
kerugian kredit ekspektasian net of expected
sebesar Rp6.126.463 pada tanggal credit losses of Rp6,126,463 as of
31 Desember 2021 (2020: Rp5.454.977) 31 December 2021 (2020: Rp5,454,977)
Dipindahkan 157.750.911 160.571.683 Carried forward

716

____________________________________________________________________________________________

Pada Tanggal 31 Desember 2021 dan 2020 As of 31 December 2021 dan 2020
2021 2020
Pindahan 157.750.911 160.571.683 Carried forward

Tagihan akseptasi Acceptance receivables
Setelah dikurangi kerugian kredit net of expected credit losses
ekspektasian sebesar Rp2.620 pada of Rp2,620 as of 31 December 2021
Tanggal 31 Desember 2021 (2020: Rp5.104) 2.058.574 1.592.400 (2020: Rp5,104)
Pajak dibayar dimuka 262.302 335.566 Prepaid tax
Investasi dalam saham 9.627.974 8.766.989 Investments in shares
Investasi pada entitas asosiasi 949.009 924.518 Investment in associate
Aset takberwujud,
setelah dikurangi akumulasi amortisasi Intangible assets,
sebesar Rp1.559.954 pada tanggal net of accumulated amortization of
31 Desember 2021 Rp1,559,954 as of 31 December 2021
(2020: Rp1.400.559) 455.599 325.595 (2020: Rp1,400,559)
Aset tetap dan Aset hak guna, Fixed assets and Right-of-use assets,
setelah dikurangi akumulasi net of accumulated
penyusutan sebesar Rp2.614.645 pada depreciation of Rp2,614,645 as of
tanggal 31 Desember 2021 31 December 2021
(2020: Rp2.558.890) 1.405.939 1.546.378 (2020: Rp2,558,890)
Aset pajak tangguhan - neto 2.533.371 2.491.247 Deferred tax asset - net
Beban dibayar dimuka dan aset lain-lain, Prepayments and other assets,
setelah dikurangi kerugian kredit net of expected credit losses of
ekspektasian sebesar Rp290.142 pada Rp290,142 as of
tanggal 31 Desember 2021 31 December 2021
(2020: Rp235.794) (2020: Rp235,794)

717

____________________________________________________________________________________________
Pada Tanggal 31 Desember 2021 dan 2020 As of 31 December 2021 dan 2020
2021 2020
- Pihak berelasi 1.777.165 1.703.969 Related parties -
Simpanan dari bank lain Deposits from other banks
Utang Obligasi Bonds Payable
Utang pajak 38.498 114.961 Taxes payable
- Pihak berelasi - 25 Related parties -
Pinjaman subordinasi 25.000 25.000 Subordinated loan
dibayar dan liabilitas lain-lain Accruals and other liabilities
JUMLAH LIABILITAS 134.156.373 138.079.996 TOTAL LIABILITIES
EKUITAS EQUITY
Modal saham - nilai nominal sebesar Share capital - par value per share
Rp50.000 (nilai penuh) per saham of Rp50,000 (full amount)
untuk seri A for A series shares
dan Rp500 (nilai penuh) per saham and Rp500 (full amount)
untuk seri B for B series shares
Modal dasar - 22.400.000 saham seri A Authorized - 22,400,000 A series
dan 17.760.000.000 shares and 17,760,000,000
saham seri B B series shares
Modal ditempatkan dan disetor Issued and fully paid -
penuh - 22.400.000 saham seri A dan 22,400,000 A series shares and
9.751.152.870 saham seri B 5.995.577 5.995.577 9,751,152,870 B series shares
Tambahan modal disetor 7.985.971 7.985.971 Additional paid-up capital
Modal disetor lainnya 189 189 Other paid-up capital
Komponen ekuitas lainnya 434.507 442.708 Other equity components
Saldo laba Retained earnings
- Sudah ditentukan penggunaannya 480.094 470.018 Appropriated -
- Belum ditentukan penggunaannya 29.642.769 28.213.350 Unappropriated -
Jumlah saldo laba 30.122.863 28.683.368 Total retained earnings
JUMLAH EKUITAS 44.539.107 43.107.813 TOTAL EQUITY
JUMLAH LIABILITAS DAN EKUITAS 178.695.480 181.187.809 TOTAL LIABILITIES AND EQUITY

718

____________________________________________________________________________________________

LAPORAN LABA RUGI DAN PENGHASILAN STATEMENT OF PROFIT OR LOSS AND OTHER
KOMPREHENSIF LAIN COMPREHENSIVE INCOME
2021 2020
PENDAPATAN DAN BEBAN OPERATING INCOME AND
OPERASIONAL EXPENSES
Pendapatan bunga 11.038.060 12.270.996 Interest income
Beban bunga (2.986.900) (4.676.854) Interest expense
Pendapatan bunga neto 8.051.160 7.594.142 Net interest income
LAINNYA OTHER OPERATING INCOME
Pendapatan provisi dan komisi 561.120 578.021 Fees and commission income
Imbalan jasa lain 1.307.931 1.275.856 Other fees
(Kerugian)/keuntungan dari perubahan (Losses)/gains from changes in fair
nilai wajar atas instrumen keuangan value of financial instruments at fair
yang diukur pada nilai wajar value through profit or
melalui laba rugi - neto (178.715) 171.859 loss - net
Perubahan nilai wajar pada Changes in value of
lindung nilai arus kas 221.564 493.594 cashflow hedge
Keuntungan/(kerugian) atas transaksi Gains/(losses) from foreign
dalam mata uang asing - neto 287.041 (145.627) exchange transactions - net
Keuntungan penjualan Gains on sale of
efek-efek dan Obligasi marketable securities and
Pemerintah - neto 282.788 457.753 Government Bonds - net
Pendapatan dividen 2.099 2.480 Dividend income
Bagian laba bersih entitas anak 1.117.187 944.983 Share in net income of subsidiaries
Bagian laba bersih entitas asosiasi 38.431 55.780 Share in net income of associate
3.639.446 3.834.699
BEBAN OPERASIONAL LAINNYA OTHER OPERATING EXPENSES

Fees and commissions
Beban provisi dan komisi lain (232.560) (250.655) expenses
General and administrative
Beban umum dan administrasi (1.842.178) (1.693.648) expenses
Beban tenaga kerja dan tunjangan (3.157.476) (3.011.566) Salaries and employee benefits
Kerugian penurunan nilai (4.353.034) (4.527.180) Impairment losses
Lain-lain (141.527) (152.802) Others
(9.726.775) (9.635.851)
PENDAPATAN OPERASIONAL NETO 1.963.831 1.792.990 NET OPERATING INCOME
PENDAPATAN DAN BEBAN NON-OPERATING

BUKAN OPERASIONAL INCOME AND EXPENSES
Pendapatan bukan operasional 79.320 67.000 Non-operating income

Beban bukan operasional (244.901) (325.104) Non-operating expenses
PENDAPATAN BUKAN NON-OPERATING

OPERASIONAL - NETO (165.581) (258.104) INCOME - NET
LABA SEBELUM PAJAK INCOME BEFORE INCOME

PENGHASILAN 1.798.250 1.534.886 TAX
BEBAN PAJAK PENGHASILAN (225.137) (527.272) INCOME TAX EXPENSE
LABA BERSIH 1.573.113 1.007.614 NET INCOME

719

____________________________________________________________________________________________

LAPORAN LABA RUGI DAN PENGHASILAN STATEMENT OF PROFIT OR LOSS AND OTHER
KOMPREHENSIF LAIN COMPREHENSIVE INCOME
2021 2020
PENGHASILAN KOMPREHENSIF LAIN OTHER COMPREHENSIVE INCOME
Pos-pos yang tidak akan Items that will not be reclassified to

direklasifikasi ke laba-rugi profit or loss
Kerugian aktuarial program Actuarial losses on postemployment
imbalan pasti, setelah pajak 219.655 (19.704) benefit, net of tax
Kerugian aktuarial program imbalan Actuarial losses on post
pasti, employment benefit, net of tax from
setelah pajak dari entitas asosiasi (643) (397) associate
Pos-pos yang akan Items that will be reclassified to

direklasifikasi ke laba-rugi profit or loss
Aset keuangan diukur pada nilai wajar Financial assets measured at fair
melalui penghasilan value through other
Perubahan nilai wajar yang Changes in fair value in
berakhir pada tahun berjalan (15.955) 736.931 current year
Kerugian penurunan nilai (71) 318 Impairment losses
Jumlah yang ditransfer ke laba rugi Amount transferred to
sehubungan dengan perubahan profit or loss in respect of
nilai wajar (185.864) (262.794) fair value changes
Aset keuangan diukur pada nilai wajar Financial assets measured at fair
melalui penghasilan value through other
komprehensif comprehensive
lain dari entitas asosiasi - neto 3.282 4.119 income from associate - net
Arus kas lindung nilai: Cash flow hedge:
Bagian efektif atas perubahan Effective portion on fair value
nilai wajar instrumen derivatif changes of derivative instruments
untuk lindung nilai arus kas 143.295 (58.412) for cash flow hedge
Pajak penghasilan terkait dengan Income tax related to
penghasilan komprehensif lain 38.870 (106.154) other comprehensive income
Penghasilan komprehensif lain, Other comprehensive income,
setelah pajak 202.569 293.907 net of tax
JUMLAH LABA KOMPREHENSIF 1.775.682 1.301.521 TOTAL COMPREHENSIVE INCOME
LABA BERSIH PER SAHAM DASAR BASIC EARNINGS PER SHARE

(NILAI PENUH) 160,96 103,10 (FULL AMOUNT)

720
The original supplementary financial information included herein is in the Indonesian language.

LAPORAN PERUBAHAN EKUITAS STATEMENT OF CHANGES IN EQUITY
Perubahan nilai wajar atas Efek-
efek,
Obligasi Pemerintah, dan Saldo laba/
Investasi dalam saham yang Retained earnings
diukur pada nilai wajar melalui
penghasilan komprehensif lain-
neto/Changes in fair value on
Perubahan Marketable securities,
ekuitas entitas Government Perubahan nilai wajar atas
Tambahan Modal disetor asosiasi/ Bonds, and lindung nilai arus kas-
modal disetor/ lainnya/ Changes of Investments in shares measured neto/ Sudah ditentukan Belum ditentukan
Modal saham/ Additional Other paid-up associate at fair value through other Changes in fair value of penggunaannya/ penggunaan-nya/ Jumlah ekuitas/
Share capital paid-up capital capital equity comprehensive income-net cashflow hedge-net Appropriated Unappropriated*) Total equity
Saldo pada tanggal 1 Januari 2021 5.995.577 7.985.971 189 - 642.117 (199.409) 470.018 28.213.350 43.107.813 Balance as of 1January 2021
Jumlah laba komprehensif tahun berjalan Total comprehensive income for the year
Laba bersih tahun berjalan - - - - - - - 1.573.113 1.573.113 Net income for the year
lindung nilai arus kas-neto - - - - - 143.295 - - 143.295 cashflow hedge-net
pasca kerja - - - - - - - 219.012 219.012 for post-employment benefits
Perubahan nilai wajar atas Changes in fair value on Marketable securities,
Efek-efek, Obligasi Pemerintah, dan Investasi Government Bonds, and Investments in
dalam saham yang diukur pada nilai wajar shares measured at fair value through other
melalui penghasilan komprehensif lain - neto - - - - (159.738) - - - (159.738) comprehensive income-net
Jumlah penghasilan komprehensif lain - - - - (159.738) 143.295 - 219.012 202.569 Total other comprehensive income
tahun berjalan - - - - (159.738) 143.295 - 1.775.682 1.775.682 for the year
Perubahan ekuitas entitas asosiasi - - - 8.242 - - - - 8.242 Changes of associate equity

Pembentukan cadangan umum
dan wajib - - - - - - 10.076 (10.076) - Appropriation for general and legal reserve
Pembagian dividen tunai - - - - - - - (352.630) (352.630) Distribution of cash dividends
Saldo pada tanggal 31 Desember 2021 5.995.577 7.985.971 189 8.242 482.379 (56.114) 480.094 29.642.769 44.539.107 Balance as of 31 December 2021

721
722
The original supplementary financial information included herein is in the Indonesian language.

LAPORAN PERUBAHAN EKUITAS STATEMENT OF CHANGES IN EQUITY
efek-efek,
Obligasi Pemerintah, dan
investasi dalam saham

dalam kelompok tersedia Saldo laba/
untuk dijual- neto/ Retained earnings
Changes in fair value on
available-for-sale Perubahan nilai wajar
Tambahan modal Modal disetor marketable securities, atas lindung nilai arus
disetor/ lainnya/ Government kas/ Sudah ditentukan Belum ditentukan
Modal saham/ Additional Other paid-up Bonds, and Changes in fair value of penggunaannya/ penggunaannya/ Jumlah ekuitas/
Share capital paid-up capital capital investments in shares-net cashflow hedge Appropriated Unappropriated*) Total equity
Saldo pada tanggal 1 Januari 2020 5.995.577 7.985.971 189 261.972 (140.997) 429.284 30.405.170 44.937.166 Balance as of 1 January 2020
Dampak penerapan awal PSAK 71 - - - 1.532 - - (1.297.358) (1.295.826) Effect of initial implementation PSAK 71
Saldo pada tanggal 1 Januari 2020, Balance as of 1 January 2020, after initial
setelah dampak penerapan PSAK 71 5.995.577 7.985.971 189 263.504 (140.997) 429.284 29.107.812 43.641.340 implementation of PSAK 71
Jumlah laba komprehensif tahun berjalan Total comprehensive income for the year
Laba bersih tahun berjalan - - - - - - 1.007.614 1.007.614 Net income for the year
Penghasilan komprehensif lain, setelah pajak Other comprehensive income, net of tax
Perubahan nilai wajar atas Changes in fair value
lindung nilai arus kas - - - - (58.412) - - (58.412) of cashflow hedge
pasca kerja - - - - - - (20.101) (20.101) for post-employment benefits
Perubahan nilai wajar atas Changes in fair value on Marketable securities,
Efek-efek, Obligasi Pemerintah, dan Investasi Government Bonds, and Investments in
dalam saham yang diukur pada nilai wajar shares measured at fair value through other
melalui penghasilan komprehensif lain - neto - - - 372.420 - - - 372.420 comprehensive income-net
Jumlah penghasilan komprehensif lain - - - 372.420 (58.412) - (20.101) 293.907 Total other comprehensive income
Jumlah laba komprehensif tahun Total comprehensive income
berjalan - - - 372.420 (58.412) - 987.513 1.301.521 for the year
Dampak penyesuaian tarif pajak - - - 6.193 - - (8.211) (2.018) Impact on tax rate adustment
Pembentukan cadangan umum dan wajib - - - - - 40.734 (40.734) - Appropriation for general and legal reserve
Pembagian dividen tunai - - - - - - (1.833.030) (1.833.030) Distribution of cash dividends
Saldo pada tanggal 31 Desember 2020 5.995.577 7.985.971 189 642.117 (199.409) 470.018 28.213.350 43.107.813 Balance as of 31 December 2020
2021 Annual Report

____________________________________________________________________________________________
LAPORAN ARUS KAS STATEMENT OF CASH FLOWS
2021 2020
Arus kas dari kegiatan operasi: Cash flows from operating activities:
Pendapatan bunga, provisi, dan komisi 11.670.209 14.880.515 Interest income, fees, and commissions
Payments of interest, fees, and
Pembayaran bunga, provisi, dan komisi (3.330.483) (4.966.497) commissions
Pendapatan operasional lainnya 1.831.297 2.226.881 Other operating income
Kerugian/(keuntungan) atas transaksi mata Losses/(gains) from foreign
uang asing - neto 422.756 (388.812) exchange transactions - net
Beban operasional lainnya (4.761.540) (4.665.412) Other operating expenses
Beban bukan operasional - neto (170.052) (258.325) Non-operating expenses - net
Arus kas sebelum perubahan dalam Cash flows before changes in
aset dan liabilitas operasi 5.662.187 6.828.350 operating assets and liabilities
Perubahan dalam aset dan liabilitas operasi: Changes in operating assets and liabilities:
Penurunan/(kenaikan) aset operasi: Decrease/(increase) in operating assets:
Penempatan pada bank lain dan Placements with other banks
Bank Indonesia - jatuh tempo and Bank Indonesia -
lebih dari 3 bulan sejak maturing more than 3 months
tanggal perolehan (408.209) 3.439.935 from the date of acquisition
Efek-efek dan Obligasi Pemerintah - Marketable securities and
Diperdagangkan 826.095 (1.382.713) Government Bonds - trading
Securities purchased under
Efek yang dibeli dengan janji dijual kembali 8.818.111 (8.394.006) resale agreements
Pinjaman yang diberikan (696.580) (1.549.612) Loans
Beban dibayar dimuka dan aset lain-lain (30.523) (255.881) Prepayments and other assets
Kenaikan/(penurunan) liabilitas operasi: Increase/(decrease) in operating liabilities:

Simpanan nasabah: Deposits from customers:
- Deposito berjangka (9.820.154) 4.106.160 Time deposits -
Simpanan dari bank lain (193.282) (2.004.958) Deposits from other banks
Beban yang masih harus dibayar
dan liabilitas lain-lain 105.785 95.374 Accruals and other liabilities
Pembayaran pajak penghasilan
selama tahun berjalan (308.101) (386.877) Income tax paid during the year
Net cash provided from
Kas neto diperoleh dari kegiatan operasi 10.334.803 9.456.458 operating activities
Arus kas dari kegiatan investasi: Cash flows from investing activities:
Pembelian dari efek-efek dan Obligasi Pemerintah Acquisition from sales of and matured
yang dijual dan telah jatuh tempo - biaya marketable securities and Government
perolehan diamortisasi dan nilai wajar melalui Bonds - amortized cost and fair value
penghasilan komprehensif lain (20.845.099) (19.751.063) through other comprehensive income
Penerimaan efek-efek dan Obligasi Pemerintah - Proceeds of marketable securities and
biaya perolehan diamortisasi dan nilai wajar Government Bonds - amortized cost and fair
melalui penghasilan komprehensif lain 14.692.512 14.696.281 value through other comprehensive income
Pembelian aset tetap (355.710) (142.370) Acquisition of fixed assets
Hasil penjualan aset tetap 7.379 6.205 Proceeds from sale of fixed assets
Penerimaan hasil investasi 256.632 1.036.530 Receipt from investment
Penerimaan dividen kas 2.099 2.480 Receipt of cash dividends
Kas neto digunakan untuk
kegiatan investasi (6.242.187) (4.151.937) Net cash used by investing activities

723

____________________________________________________________________________________________
LAPORAN ARUS KAS STATEMENT OF CASH FLOWS
2021 2020
Arus kas dari kegiatan pendanaan: Cash flows from financing activities:
Penerimaan dari penerbitan obligasi - 4.192 Proceeds from bonds issuance
Pembayaran pokok obligasi - (1.648.000) Payments of principal on bonds issued
Pembayaran dividen kas (352.987) (1.832.584) Payments of cash dividends
Penurunan pokok liabilitas sewa (97.097) (60.124) Decrease of principal of lease liabilities
Kas neto digunakan untuk kegiatan

pendanaan (450.084) (3.536.516) Net cash used by financing activities
Net increase in cash

Kenaikan kas dan setara kas - neto 3.642.532 1.768.005 and cash equivalents
Dampak neto perubahan nilai tukar Net effect on changes in exchange

atas kas dan setara kas (15.822) 77.894 rates on cash and cash equivalents
Kas dan setara kas pada Cash and cash equivalents at

awal tahun 13.603.266 11.757.366 beginning of the year

Kas dan setara kas pada akhir tahun 17.229.976 13.603.265 end of the year
Kas dan setara kas terdiri dari: Cash and cash equivalents consist of:
Kas 2.635.688 2.761.954 Cash
Giro pada bank lain 2.102.460 1.399.734 Current accounts with other banks
Penempatan pada bank lain dan Bank Placements with other banks and Bank
Indonesia - jatuh tempo sampai dengan Indonesia - maturing within 3 months
3 bulan sejak tanggal perolehan 9.431.814 7.255.579 from the date of acquisition
Jumlah kas dan setara kas 17.229.976 13.603.265 Total cash and cash equivalents

724
2021 Annual Report
ENABLING CUSTOMERS
THROUGH CONTINUOUS
INNOVATIONS AND
COLLABORATIONS
PT BANK DANAMON INDONESIA TBK.
Menara Bank Danamon

Jl. HR. Rasuna Said, Blok C No. 10
Kel. Karet, Kec. Setiabudi
Jakarta 12920 - Indonesia
1-500-090
[email protected]
www.danamon.co.id
725

ANNUAL REPORT DANAMON 2021-English - Rev

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ENABLING CUSTOMERS THROUGH

CONTINUOUS INNOVATIONS AND

2021 Annual Report

Enabling Customers through

2018 DELIVERING EXCELLENCE

2019 LOCAL AND GLOBAL CAPABILITIES

2020 ADAPTING TO NEW NORMAL

Finally, we want to emphasize that rising up to these challenges is a community effort. We do

2 Continuity of Themes 80 Employee Demographic

Policies, Organs and Implementation 418 Investor Relations

Strong NPAT growth in

CAR remains healthy. Consolidated

Record high loan loss

CONSOLIDATED STATEMENTS OF PROFIT AND LOSS

OTHER COMPREHENSIVE INCOME

Description 2021 2020 2019

Key Financial Ratios (%) 2021 2020 2019

II. Earning Assets

Key Financial Ratios (%) 2021 2020 2019

a. a. GWM Primary IDR

NET REVENUE SHARING

(in Million Rp)

Average Funds Owner Share

Total 3,699,086 31,503

(in Million Rp)

Average Balance Received Revenues

Average Balance Received Revenues

STATEMENT OF SOURCES AND DISBURSEMENT OF ZAKAT AND WAQF FUNDS

(in Million Rp)

No Description 2021 2020 2019

Quarter I 3,440 2,730 2,730 183,909,500 26,681.80

SHARE PRICE MOVEMENT CHART

Share Price (Rp)

VOLUME SHARE PRICE (RP)

Quarter I 3,375 1,389 1,733 171,741,000 16,940.97

Chart of Trading Volume and Closing Price of Shares Throughout 2020

Volume Share Price (Rp)

VOLUME SHARE PRICE (RP)

BUSINESS OUTLOOK The Board of Commissioners acknowledges the Bank’s

WBS, including following up on and administering Lapian

Jakarta, 25th February 2022

Halim J.B. Kristiadi Dan Harsono Peter Benyamin Stok

(CASA) rose to 59.1% compared to the previous year’s BUSINESS PROSPECTS

financial literacy, disaster responses as well as healthy Directors is as follows:

Jakarta, 25th February 2022

Heriyanto Agung Herry Rita Mirasari Yasushi Itagaki

Honggo Widjojo Dadi Budiana Muljono Naoki

REPORT OF THE SHARIA

Assalamu’alaikum Warahmatullahi Wabarakaatuh

Wassalaamu’alaikum Warahmatullahi Wabarakaatuh

Prof. Dr. H. M. Din Syamsuddin

DR. K.H. HASANUDIN Prof. Dr. H. M. Din Dr. Asep

This statement is hereby made in all truthfulness.

Jakarta, 25th February 2022

J.B. Kristiadi Peter Benyamin Stok Nobuya Kawasaki

Hedy Maria Takanori Sazaki Dan Harsono Halim Alamsyah

Honggo Widjojo Herry Hykmanto Rita Mirasari

Heriyanto Dadi Budiana Muljono Tjandra Naoki Mizoguchi

Chairman : Prof. Dr. H.M. Din Syamsuddin