Capital Budgeting - BMRI - Natania - 18.G1.0225

BMRI
Nama Ketua Nama Ang

Cynthia Arya ( 18.G1.0188 ) Laras Simantika ( 18.G1.0182 )
SOURCE :https://www.bankmandiri.co.id/web/ir/anual-reports
BMRI
Nama Anggota
Tunisa Adzkia ( 18.G1.0195 ) Mitha Tresia ( 18.G1.0217 )
Natania Vira ( 18.G1.0225 )
PT BANK MANDIRI (PERSERO) Tbk. DAN
LAPORAN Posisi Keuangan KONSO
Untuk Tahun yang Berakhir p
Tanggal 31 Desember
(Dinyatakan dalam jutaan Rupiah)
ASET
ASET LANCAR
Kas
Giro Pada Bank Indonesia
Giro Pada Bank Lain - Bersih
Penempatan Pada BI dan Bank Lain - Bersih
Efek-Efek - Bersih
Tagihan Lainnya - Transaksi Perdagangan - Bersih
Tagihan Atas Efek-Efek Yang Dibeli Dengan Janji Dijual Kembali - Bersih
Tagihan Derivatif - Bersih
Tagihan Akseptasi - Bersih
Kredit Yang Diberikan Dan Piutang/Pembiayaan Syariah - Bersih
Piutang Pembiayaan Konsumen - Bersih
Biaya Dibayar Dimuka
Pajak Dibayar Dimuka
Jumlah Aset Lancar
INVESTASI JANGKA PANJANG

Obligasi Pemerintah
Investasi Bersih Dalam Sewa Pembiayaan - Bersih
Penyertaan Saham - Bersih
Total Investasi Jangka Panjang
ASET LAIN - LAIN

Aset Tetap - Bersih
Aset Tidak Berwujud - Bersih
Aset Lain-Lain - Bersih
Aset Pajak Tangguhan
Total Aset Lain - lain
Total Aset
LIABILITAS DAN EKUITAS

LIABILITAS
LIABILITAS (LANCAR) JANGKA PENDEK
Liabilitas Segara
Simpanan Nasabah
Simpanan dari Bank Lain
Liabilitas Kepada Pemegang Polis Unit-Link
Liabilitas Atas Efek-Efek Yang Dijual Dengan Janji Dibeli Kembali
Liabilitas Derivatif
Liabilitas Akseptasi
Beban Yang Masih Harus Dibayar
Utang Pajak
Liabilitas Imbalan Kerja
Provisi
Pinjaman Yang Diterima
Estimasi kerugian atas komitmen dan kontijensi
Total Liabilitas Jangka Pendek
LIABILITAS JANGKA PANJANG
Efek-Efek Yang Diterbitkan
Pinjaman Subordinasi
Liabilitas lain - lain
Total Liabilitas Jangka Panjang
Total Liabilitas
Dana Syirkah Temporer
Simpanan Nasabah
Jumlah Dana Syirkah Temporer
EKUITAS
Modal Saham
Tambahan Modal Disetor/Agio Saham
Selisih Kurs Karena Penjabaran Laporan Keuangan Dalam Mata Uang Asing
Keuntungan/(Kerugian) Bersih Yang Belum Direalisasikan Dari Kenaikan/(Penurunan) Nilai Wajar

Efek-efek Dan Obligasi Pemerintah Yang Tersedia Untuk Dijual SetelahDikurangi Pajak
Tangguhan
Bagian efektif lindung nilai arus kas

Selisih Bersih Revaluasi Aset Tetap
(Kerugian)/Keuntungan Bersih Aktuarial Program Imbalan Pasti Setelah Dikurangi Pajak
Tangguhan
Selisih Transaksi Dengan Pihak Non Pengendali

Saldo Laba
Kepentingan Non Pengendali Atas Aset Bersih Entitas Anak Yang Dikonsolidasi
Jumlah Ekuitas
Jumlah Liabilitas, Dana Syirkah Temporer dan Ekuitas
NDIRI (PERSERO) Tbk. DAN ENTITAS ANAK
AN Posisi Keuangan KONSOLIDASIAN
ntuk Tahun yang Berakhir pada
Tanggal 31 Desember
2013 2014 2015 2016
19,051,934 20,704,563 25,109,124 22,906,775

43,904,419 50,598,840 56,314,316 52,484,974
14,036,484 8,983,467 10,152,214 10,360,165
45,113,834 61,117,605 37,320,863 73,616,927
26,802,548 40,465,158 43,641,564 56,551,643
7,523,929 11,651,696 13,184,766 14,167,271
3,737,613 19,744,804 676,900 5,054,488
170,878 71,044 700,884 239,260
10,114,889 13,007,132 11,224,243 14,548,203
450,634,798 505,394,870 564,393,595 616,706,193
4,511,545 5,893,135 7,907,449 11,531,838
1,489,010 1,837,500 2,299,852 2,751,081
1,126,549 2,591,982 4,817,396 2,612,707
628,218,430 742,061,796 777,743,166 883,531,525
82,227,428 86,153,906 103,869,361 98,933,278

612,154 766,524 598,359 829,945
4,667 55,490 48,394 245,136
82,844,249 86,975,920 104,516,114 100,008,359
7,645,598 8,928,856 9,761,688 35,663,290

1,160,255 1,644,583 1,915,192 1,955,496
8,908,732 11,239,398 11,292,727 11,557,238
4,322,498 4,189,120 4,834,522 5,990,101
22,037,083 26,001,957 27,804,129 55,166,125
733099762 855039673 910063409 1038706009
2013 2014 2015 2016
762,130 1,156,366 1,156,327 1,569,911

508,996,256 583,448,911 622,332,331 702,060,230
12,443,313 17,531,845 12,636,237 9,339,196
12,002,997 17,343,799 17,019,049 19,602,950
4,656,149 6,112,589 4,863,171 3,353,042
226,168 157,055 299,079 502,469
10,178,370 13,114,059 11,331,273 14,789,244
3,326,475 3,880,273 3,490,801 3,743,496
2,126,864 1,875,141 2,131,616 1,258,792
4,585,069 5,181,160 5,777,077 6,763,068
822,582 667,644 676,170 435,880
15,997,188 24,227,104 33,764,671 35,882,757
200,501 196,793 395,610 207,401
576,324,062 674,892,739 715,873,412 799,508,436
1,779,597 2,009,625 2,398,178 9,025,994

4,465,615 3,746,574 3,737,703 215,432
14,166,214 16,370,686 14,189,412 15,810,036
20,411,426 22,126,885 20,325,293 25,051,462
596,735,488 697,019,624 736,198,705 824,559,898
2013 2014 2015 2016
47,345,405 52,933,182 54,054,930 60,440,474
228,273 242,305 317,933 335,914
47,573,678 53,175,487 54,372,863 60,776,388
2013 2014 2015 2016
11,666,667 11,666,667 11,666,667 11,666,667
17,316,192 17,316,192 17,316,192 17,316,192
221,620 203,625 242,807 202,363
-1,417,240 -571,348 -1,565,019 -759,364
- - - -
- - - 25,140,523
- - 277,676 49,515
- - -92,751 -92,751
59,631,998 74,042,745 89,224,718 96,930,793
1,371,359 2,186,681 2,421,551 2,915,785
88,790,596 104,844,562 119,491,841 153,369,723

733,099,762 855,039,673 910,063,409 1,038,706,009
2017
76,992,837
24,268,563
50,188,118
12,329,947
74,600,803
59,609,972
24,090,128
2,629,315
446,459
12,290,260
678,292,520
14,782,332
2,784,234
2,688,049
959,000,700
103,411,188
2,356,890
333,312
106,101,390
36,618,753
2,401,467
15,014,218
5,564,319
59,598,757
1124700847
2017
2,838,567
749,583,982
8,349,507
23,254,035
3,592,883
276,243
12,544,494
4,307,193
1,009,832
8,277,388
375,770
35,703,679
381,771
850,495,344
16,843,595
191,501
20,496,377
37,531,473
888,026,817
2017
66,222,609
445,289
66,667,898
2017
11,666,667
17,316,192
168,412
1,117,864
-6,436
25,666,631
-462,008
-106,001
111,357,522
3,287,289
170,006,132
1,124,700,847
2013 2014
PENDAPATAN DAN BEBAN OPERASIONAL
Pendapatan Bunga dan Pendapatan Syariah 50,208,842 62,637,842
Beban Bunga dan Beban Syariah -16,399,424 -23,505,518
PENDAPATAN BUNGA DAN SYARIAH - BERSIH 33,809,418 39,132,324
Pendapatan Premi 6,446,149 9,364,287

Beban Klaim -3,820,143 -6,683,717
PENDAPATAN PREMI- BERSIH 2,626,006 2,680,570
PENDAPATAN BUNGA, SYARIAH DAN PREMI - BERSIH 36,435,424 41,812,994
Pendapatan Operasional Lainnya

Provisi dan komisi lainnya 8,704,095 9,131,975
Laba selisih kurs - bersih 1,853,099 1,587,639
Lain-lain 4,129,443 3,968,201
Jumlah Pendapatan Operasional Lainnya 14,686,637 14,687,815
Pembentukan Cadangan Kerugian Penurunan Nilai -4,871,442 -5,718,130

Pembalikan Penyisihan Estimasi Kerugian atas Komitmen dan Kontinje 10,784 5,313
Pembalikan Penyisihan Kerugian 4,324 183,481
Keuntungan/(Kerugian) yang Belum Direalisasi dari Kenaikan/(Penuruna -219,353 146,521
Keuntungan dari Penjualan Efek-efek dan Obligasi Pemerintah 39,116 234,463
Beban Operasional Lainnya
Beban gaji dan tunjangan -9,431,337 -10,848,031
Beban umum dan administrasi -9,898,400 -11,448,310
Lain-lain - bersih -3,204,042 -3,078,010
Jumlah Beban Operasional Lainnya -22,533,779 -25,374,351
LABA OPERASIONAL 23,551,711 25,978,106
Pendapatan Bukan Operasional - Bersih 510,126 29,909
LABA SEBELUM BEBAN PAJAK DAN KEPENTINGAN NONPENGENDALI 24,061,837 26,008,015
Beban Pajak
Kini -5,288,489 -5,309,919
Tangguhan 56,586 -43,313
Jumlah Beban Pajak - Bersih -5,231,903 -5,353,232
LABA BERSIH 18,829,903 20,654,783
Pendapatan Komprehensif Lain

Selisih Kurs karena Penjabaran Laporan Keuangan dalam Mata Ua 173,943 -17,995
Keuntungan/(Kerugian) Bersih yang Belum Direalisasi dari Kena -1,259,738 1,057,365
Pajak Penghasilan Terkait dengan Laba Komprehensif Lain 251,947 -211,473
Pendapatan/(Rugi) Komprehensif Lain - Setelah Pajak -833,848 827,897
TOTAL LABA KOMPREHENSIF 17,996,055 21,482,680
Laba Bersih yang Diatribusikan kepada:

Pemilik Entitas Induk 18,203,753 19,871,873
Kepentingan Nonpengendali 626,181 782,910
18,829,934 20,654,783
Laba Komprehensif yang Diatribusikan kepada: 17,369,905 20,699,770

Pemilik Entitas Induk 626,181 782,910
Kepentingan Nonpengendali 17,996,086 21,482,680
LABA PER SAHAM

Dasar (dalam Rupiah penuh) 780.16 851.66
Dilusian (dalam Rupiah penuh) 780.16 851.66
PT BANK MANDIRI (PERSERO) Tbk. DAN ENTITAS ANAK
LAPORAN LABA RUGI KOMPREHENSIF KONSOLIDASIAN
UNTUK TAHUN-TAHUN YANG BERAKHIR PADA TANGGAL
31 DESEMBER
2015 2016 2017
71,570,127 76,709,888 79,501,530

-26,207,024 -24,884,519 -27,174,371
45,363,103 51,825,369 52,327,159
9,546,893 9,377,741 10,325,187

-6,409,823 -6,725,310 -7,860,112
3,137,070 2,652,431 2,465,075
48,500,173 54,477,800 54,792,234
10,014,810 11,440,002 12,483,134

2,238,098 2,265,234 2,888,082
6,125,770 5,581,189 6,910,425
18,378,678 19,286,425 22,281,641
-11,664,837 -24,943,938 -15,646,385

-198,450 181,459 -173,402
-179,242 117,637 -132,050
-18,306 15,638 167,892
275,499 745,904 893,570
-12,376,655 -13,618,745 -14,858,642

-12,799,851 -13,958,211 -15,405,579
-3,578,037 -3,691,242 -4,749,528
-28,754,543 -31,268,198 -35,013,749
26,338,972 18,612,727 27,169,751
30,458 -39,762 -12,888
26,369,430 18,572,965 27,156,863
-5,548,058 -5,088,924 -5,593,293

331,026 1,166,122 -120,528
-5,217,032 -3,922,802 -5,713,821
21,152,398 14,650,163 21,443,042
20,334,968 13,806,565 20,639,683
817,430 843,598 803,359
21,152,398 14,650,163 21,443,042
19,658,155 39,484,138 22,491,109

788,674 860,910 829,926
20,446,829 40,345,048 23,321,035
871.5 591.71 442.28

871.5 591.71 442.28
AN ENTITAS ANAK
F KONSOLIDASIAN
IR PADA TANGGAL
Rupiah)
42,361,700
64,895,479
-22,533,779
2015
Pos yang tidak akan direklasifikasi ke laba rugi
Keuntungan revaluasi aset tetap
Keuntungan aktuarial program imbalan pasti 339,679
Pajak penghasilan terkait pos yang tidak akan direklasifikasi ke laba rugi -65,960
273,719
Pos-pos yang akan direklasifikasi ke laba rugi

Penyesuaian akibat penjabaran laporan keuangan dalam mata uang asing 39,182
Perubahan nilai wajar aset keuangan dalam kelompok tersedia untuk dijual -1,268,960
Pajak penghasilan terkait pos-pos yang akan direklasifikasi ke laba rugi 250,472
-979,306
Penghasilan komprehensif lain tahun berjalan - setelah pajak penghasilan -705,587

TOTAL PENGHASILAN KOMPREHENSIF TAHUN BERJALAN 20,446,811
2016 2017
25140558 526,108
-288,896 -641,569
57,776 125,139
24909438 9,678
-40,722 -32,750
945,231 2,364,089
-16,826
-119,062 -446,198
785,447 1,868,315
25694885 1,877,993
40345048 23,321,035
PT BANK MANDIRI (
LAPORAN A
Untuk Ta
Tan
ARUS KAS DARI AKTIVITAS OPERASIONAL

Penerimaan pendapatan bunga dan pendapatan syariah
Penerimaan pendapatan provisi, komisi dan premi - bersih
Pembayaran beban bunga dan beban syariah
Penerimaan dari penjualan Obligasi Pemerintah - untuk diukur pada nilai wajar melalui laporan laba rugi
Pembelian Obligasi Pemerintah - untuk diukur pada nilai wajar melalui laporan laba rugi
Laba/(rugi) selisih kurs - bersih
Pendapatan operasional lainnya - lain-lain
Beban operasional lainnya - lain-lain
Beban gaji dan tunjangan
Beban umum dan administrasi
Pendapatan bukan operasional - bersih
Pembayaran pajak penghasilan badan
Arus kas dari aktivitas operasional sebelum perubahan aset dan liabilitas operasional
Penurunan/(kenaikan) atas aset operasional:

Penempatan pada Bank Indonesia dan bank lain
Efek-efek - diukur pada nilai wajar melalui laporan laba rugi
Tagihan lainnya - transaksi perdagangan
Kredit yang diberikan
Tagihan atas efek-efek yang dibeli dengan janji dijual kembali
Piutang pembiayaan konsumen
Investasi bersih dalam sewa pembiayaan
Pajak dibayar dimuka
Biaya dibayar dimuka
Aset lain-lain
Penerimaan atas aset keuangan yang telah dihapus bukukan
Kenaikan/(penurunan) atas liabilitas operasional dan dana syirkah temporer:

Bank Konvensional
Giro
Tabungan
Deposito berjangka
Inter-bank call money
Liabilitas segera
Liabilitas kepada pemegang polis unit-linked
Utang pajak lainnya
Liabilitas Lain-lain
Bank Syariah - Dana Syirkah Temporer
Investasi terikat giro dan giro mudharabah musytarakah
Investasi terikat tabungan dan investasi tidak terikat tabungan mudharabah
Investasi tidak terikat deposito mudharabah
Kas bersih yang diperoleh dari aktivitas operasional
ARUS KAS DARI AKTIVITAS INVESTASI

Kenaikan efek-efek - tersedia untuk dijual dan dimiliki hingga jatuh tempo
Kenaikan Obligasi Pemerintah - tersedia untuk dijual dan dimiliki hingga jatuh tempo
Penerimaan dari penjualan aset tetap
Pembelian aset tetap
Pembelian aset tidak berwujud
Penjualan saham PT Bumi Daya Plaza
Penjualan saham PT Usaha Gedung Mandiri
Kas bersih yang digunakan untuk aktivitas investasi
ARUS KAS DARI AKTIVITAS PENDANAAN

Penurunan investasi di Entitas Anak
Kenaikan atas efek-efek yang diterbitkan
Kenaikan atas pinjaman yang diterima
Pembayaran atas pinjaman subordinasi
Kenaikan efek-efek yang dijual dengan janji dibeli kembali
Pembayaran dividen
Kas bersih yang diperoleh dari aktivitas pendanaan
KENAIKAN BERSIH KAS DAN SETARA KAS

DAMPAK PERUBAHAN SELISIH KURS TERHADAP KAS DAN SETARA KAS
KAS DAN SETARA KAS PADA AWAL TAHUN
KAS DAN SETARA KAS PADA AKHIR TAHUN
Kas dan setara kas pada akhir tahun terdiri dari:

Kas
Giro pada Bank Indonesia
Giro pada bank lain
Sertifikat Bank Indonesia
Jumlah kas dan setara kas
PT BANK MANDIRI (PERSERO) T
LAPORAN ARUS KAS KO
Untuk Tahun yang B
Tanggal 31 Des


Aset lain-lain

Bank Konvensional
Tabungan
Deposito berjangka
Liabilitas segera
Utang pajak lainnya


Pembayaran dividen


Giro pada bank lain
BANK MANDIRI (PERSERO) Tbk. DAN ENTITAS ANAK
LAPORAN ARUS KAS KONSOLIDASIAN
Untuk Tahun yang Berakhir pada
Tanggal 31 Desember
2013 2014 2015
48,006,235 59,752,177 68,561,085

11,330,101 11,812,545 13,151,880
-16,258,800 -23,121,999 -26,303,441
26,689,634 26,624,838 31,695,656
-26,364,288 -26,249,130 -32,543,993
-1,684,990 1,876,047 568,115
1,126,887 1,360,996 2,695,638
-2,327,867 -2,912,216 -3,884,426
-8,659,586 -10,251,940 -11,503,062
-8,935,985 -10,266,219 -11,309,466
523,356 29,909 30,458
-5,911,725 -5,716,191 -5,299,131
17,532,972 22,938,817 25,859,313
-975,057 -2,321,185 -74,344

-743,827 -11,765,022 5,930,922
-2,273,965 -4,289,584 -1,674,546
-85,610,294 -59,909,017 -71,254,097
10,777,622 -16,049,132 19,109,845
-833,329 -1,590,704 -2,305,938
-291,229 -165,177 170,521
-1,098,375 -1,465,433 -2,225,414
-53,253 -348,490 -462,352
172,342 -1,583,311 627,894
3,002,556 2,607,206 3,430,132
10,098,878 4,832,745 44,702,559

32,276,298 15,682,853 17,133,981
21,255,943 57,414,439 -28,721,091
953,750 1,611,150 872,363
-932,101 394,236 -39
968,758 5,340,802 -324,750
-211,620 244,614 -306,828
1,523,844 3,910,075 -1,484,053
14,717 -4,342 -2,031

2,210,646 509,134 1,852,989
4,968,241 5,097,017 -653,852
12,733,517 21,091,691 10,201,184
-6,410,209 -965,192 -9,640,061

-4,642,580 -3,169,133 -17,604,588
119,287 6,661 4,202
-1,584,388 -2,250,724 -1,135,677
-439,775 -705,614 -573,199
264,000 - -
132,000 - -
-12,561,665 -7,084,002 -28,949,323
98,830 -36,365 -675,283

233,721 230,028 388,553
6,688,977 8,026,295 7,291,307
-672,335 -719,041 -8,871
4,651,220 1,456,440 -1,249,418
-4,651,220 -5,461,126 -4,967,968
6,349,193 3,496,231 778,320
6,525,974 17,503,920 -17,969,549

2,993,395 277,305 4,832,573
111,503,789 121,023,158 138,804,383
121,023,158 138,804,383 125,667,407
19,051,934 20,704,563 25,109,124

43,904,419 50,598,840 56,314,316
14,048,075 8,986,831 10,155,626
44,018,730 57,690,864 33,791,391
- 823,285 296,950
121,023,158 138,804,383 125,667,407
2016 2017
73,772,423 76,136,214
14,092,433 14,948,209
-24,636,216 -26,999,765
47,558,159 53,656,513
-46,378,950 -53,707,496
3,151,361 2,392,249
1,879,255 2,417,018
-3,707,546 -4,158,256
-12,860,915 -13,855,845
-12,200,718 -13,573,478
-39,882 -57,665
-5,943,662 -5,968,499
34,685,742 31,229,199
1,105,862 -624,042
-3,700,426 -2,048,245
-1,011,605 -9,515,359
-75,638,571 -76,638,704
-4,377,588 2,425,173
-4,079,414 -3,961,788
-231,782 -1,533,591
2,204,689 -59,783
-451,229 -33,153
-42,069 -3,240,312
3,701,934 4,565,412
15,377,874 15,766,883
28,225,627 31,594,358
35,310,768 -553,881
-2,483,411 -273,297
413,584 1,268,656
2,583,901 3,651,085
-7,543 110,687
3,531,241 6,931,895
57,423 456,360
2,415,839 3,101,195
3,930,263 2,333,955
41,521,109 4,952,703
-8,924,594 -1,083,092
5,320,566 -1,540,676
10,935 51,269
-2,149,547 -1,786,436
-420,141 -889,925
- -
- -
-6,162,781 -5,248,860
-546,129 -497,153
6,627,816 7,827,253
3,076,681 -630,913
-3,522,271 -23,931
-1,510,129 239,841
-6,100,490 -6,212,954
-1,974,522 702,143
33,383,816 406,986
-1,491,116 808,703
125,667,407 157,560,107
157,560,107 158,775,796
22,906,775 24,268,563
52,484,974 50,188,118
10,363,214 12,333,389
71,209,865 71,536,104
595,279 449,622
157,560,107 158,775,796
RUMUS
Liquidity Ratio
Quick Ratio (Cash Asset)/(Total Deposit)

x 100%
"Securities " /"Total deposit" x

Investing Policy Ratio 100%
Banking Ratio "Total Loans" /"Total Deposit"

x 100%
"Total loans" /("Total as" set)

Assets to Loan Ratio x 100%
"Portofolio segera JT" /("Tota"

Invesment Portofolio Ratio l deposit) x 100%
"Liquid Assets " /"Short term

Cash Ratio Borrowing" x 100%
"Market value of
securities" /"Statement value of
Invesment Risk Ratio securities" x 100%
Kredit/(Dana Pihak Ketiga) x

Loan to Deposit Ratio 100%
Deposit Risk ratio "Equity capital" /"total deposit"

x 100%
Credit Risk Ratio

"bed debts" /"total loans" x 100%
Liquidity Risk "liquid assets – short term borrowing" /"total

deposit" x 100%
Rentability Ratio
Returns On Assets (Laba Sebelum Pajak)/

(Rata−rata Asset) x 100%
Returns On Equity (Laba Setelah Pajak)/

(Rata−rata Ekuitas) x 100%
Net Profit Margin (Net Income)/(Operating

Income) x 100%
(Net Income)/(Operating
Income) x 100%
Beban Operasi/Pendapatan Operasi (Total Beban Operasional)/(Total

Pendapatan Operasional) x 100%
Solvability Ratio
(Modal )/(Aktiva Tertimbang Menurut

Capital Adequacy Ratio Resiko) x 100%
Debt to Equity Ratio (Jumlah Utang)/(Jumlah Modal Sendiri) x

100%
Primary Ratio "Capital Equity" /"Total Assets" x

100%
"Capital equity" /"Total assets – Cash assets −

Risk Assets Ratio Securities" x 100%
Secondary Risk Ratio "capital equity" /"secondary

risk assets" x 100%
"capital equity + reserve for loan loses" /

Capital Ratio ("total loan" s) x 100%
2013 2014 2015 2016 2017
15% 14% 15% 12% 12%
5% 7% 7% 8% 8%
89% 87% 91% 88% 90%
61% 59% 62% 59% 60%
16% 15% 17% 14% 14%
4% 4% 5% 4% 5%
31.4 43.1 37 46.3 32
75% 73% 76% 72% 74%
17% 18% 19% 22% 23%
1% 1% 1% 2% 2%
10% 12% 10% 12% 14%
3% 3% 3% 2% 2%
21% 20% 18% 10% 13%
26% 24% 21% 14% 19%

-60% -64% -62% -60% -62%
12% 12% 13% 14% 15%
672% 665% 616% 538% 522%
12% 12% 13% 15% 15%
13% 13% 14% 16% 16%
13% 13% 14% 16% 16%
19% 20% 19% 21% 23%

Rata-Rata Kriteria Bank Indonesia Keterangan Comment
13% ≤ 10% Sangat Sehat AVERAGE
7% GOOD
89% 85% ≤ 90% Sehat AVERAGE
60% AVERAGE
15% AVERAGE
4% AVERAGE
3796% AVERAGE
74% LDR ≤ 75% Sehat AVERAGE
20% EXCELENCE
2% GOOD
12% GOOD
3% >1,22% Sehat POOR
16% ROE > 15% Sangat Sehat AVERAGE
21% <51% Tidak Sehat AVERAGE

-62% <93,52% Sehat AVERAGE
13% >8% Sehat GOOD
603% POOR
13% > 12% Sangat Sehat GOOD
15% GOOD
14% GOOD
20% 10% ≤ 20% Cukup Sehat GOOD

INPUTS:
Investment = CF0 = PV =
Interest rate = I =
No. of periods = N =
Time Line Periods:

Cash Flow:
1. Step-by-step: Multiply ny ( 1 + I ) each step
2. Formula: FVN = PV ( 1+I )N
Inputs : 3 5 -100 0
3. Financial Calculator:
Output:
4. Excel Spreadsheet FV Function : FVN =

Fixed Inputs : FVN =
Cell References : FVN =
In the Excel formula, the terms are entered in this sequence: interest, periods, 0 to indicates no periodic cash
fixed numbers or, better yet, as cell references.
INPUTS:
Future Payment = CFN = FV =
Interest rate = I =
Time Line Periods:

Cash Flow:
1. Step-by-step
2. Formula: FVN = PV ( 1+I )N

Inputs : 3 5 0
Output:
4. Excel Spreadsheet FV Function : FVN =

Fixed Inputs : FVN =
Cell References : FVN =
In the Excel formula, the terms are entered in this sequence: interest, periods, 0 to indicate no periodic cash
fixed numbers or, better yet, as cell references.
Output:
Interest rate = I =
1. Step-by-step: Periods:
Cash Flow:
Multiply each payment by ( 1+I )N-t and sum these FVs to find
FVAN:
2. Formula:
〖��〗 _�=𝑃𝑀𝑇 𝑥 ((1+�)^𝑁/𝐼 − 1/𝐼)=
Inputs: 3 5 0 -100
Output:
4. Excel Spreadsheet FV Function : FVA N =

Fixed Inputs : FVAN =
Cell References : FVAN =
Input
Begin Mode
Output
Interest rate = I =
1. Step-by-step: Periods:
Cash Flow:
Multiply each payment by ( 1+I )N-t and sum these FVs to find
FVAN:
2. Formula:
〖��〗 _�=𝑃𝑀𝑇 𝑥 ((1+�)^𝑁/𝐼 − 1/𝐼)=

Inputs: 3 5 0 -100
Output:
4. Excel Spreadsheet FV Function : FVA N =

Fixed Inputs : FVAN =
Cell References : FVAN =
Inputs:
Interest Rate = I =
1. Step-by-step:
Periods:
Cash Flows:
PVs of the CFs:
PV of the Irregular CF Stream = Sum of the Individual PVs =
2. Calculator :
3. Excel Spreadsheet:
The excel formula ignores the initial cash flow ( in Year 0 ). When entering a cash flow range, Excel assumes that t
if there is an initial cash flow, it must be added separately to complete the NPV formula result. Notice too that yo
consecutive cells, you can enter the cell range, as we d
Inputs
Output
Inputs
Output
-100
5%
3
Periods: 0 1 2 3
Cash Flow: -$100 0 0 FV = ?
100 105 110.25 115.7625
FV3 = 100(1,05)3 = 115.7625
Inputs : 3 5 -100 0
N I/YR PV PMT FV
Output: 115.7625
FV Function : FVN = = FV(I,N,O,PV)

Fixed Inputs : FVN = =FV(0.05,3,0,-100) 115.76
Cell References : FVN = =FV(C33,C34,0,C32) 115.76
this sequence: interest, periods, 0 to indicates no periodic cash flows, and then the PV. The data can be entered as
s.
115.76
5%
3
Periods: 0 1 2 3
Cash Flow: PV = ? 0 0 -$115,76
99.24973 104.47 110.0 115.76
FV3 = 115,76/(1,05)3 = 100.0

Inputs : 3 5 0 115.76
N I/YR PV PMT FV
100.0
FV Function : FVN = = PV(I,N,O,PV)

Fixed Inputs : FVN = =PV(0.05,3,0,115,76) (100.00)
Cell References : FVN = =PV(C99,C100,0,C98) (100.00)
this sequence: interest, periods, 0 to indicate no periodic cash flows, and then the FV. The data can be entered as
s.
-100
5%
3
0 1 2 3
-100 -100 -100
100
105
110.25
315.25
315.25
0 -100
N I/YR PV PMT FV
315.25
FV Function : FVA N = = FV(I,N,PMT,PV)

Fixed Inputs : FVAN = =FV(0.05,3,-100,0) 315.25
Cell References : FVAN = =FV(C245,C246,C244,0) 315.25
Begin Mode
3 5 0 -100
N I/YR PV PMT FV
Rp331.01
-100
5%
3
0 1 2 3
-100 -100 -100
95
90.25
85.7375
270.9875
272.32
0 -100
N I/YR PV PMT FV
272.32
FV Function : FVA N = = FV(I,N,PMT,PV)

Fixed Inputs : FVAN = =FV(0.05,3,-100,0) 315.25
Cell References : FVAN = =FV(C315,C316,C314,0) 315.25
Interest Rate = I = 12%
0 1 2 3 4
0 100 300 300 300
89.29 239.16 213.53 190.66
1016.35
You could enter the cash flows into the cash flow register of a financial calculator, enter I/YR, and then
press the NPV key to find the answer
NPV Function: NPV = =NPV(I,CFs)

Fixed inputs: NPV = =NPV(0,12;100;300;300;300;500)
Cell references: NPV = =NPV(C467,C471:G471)
Year 0 ). When entering a cash flow range, Excel assumes that the first value occurs at the end of the first year. As we will see later,
parately to complete the NPV formula result. Notice too that you can enter cash flows one-by-one, but if the cash flows appear in
consecutive cells, you can enter the cell range, as we did here.
5 6 0 10000
N I/YR PV PMT FV
-Rp1,773.96
5 6 0 10000
N I/YR PV PMT FV
-Rp1,673.55
5
500
283.71
1016.35
1,016.35
1,016.35
ear. As we will see later,

he cash flows appear in
End Mode
(Ordinary
Annuity)
Begin Mode
(Annuity
Due)
Date Close BMRI_HARTUP RETURN_BMRI VARIAN_BMRI
1/2/2013 4,125,000,000 4125
1/3/2013 4,100,000,000 4100 -0.006061 0.000046
1/4/2013 4,125,000,000 4125 0.006098 0.000037
1/7/2013 4,100,000,000 4100 -0.006061 0.000037
1/8/2013 4,175,000,000 4175 0.018293 0.000335
1/9/2013 4,125,000,000 4125 -0.011976 0.000143
1/10/2013 4,025,000,000 4025 -0.024242 0.000588
1/11/2013 4,025,000,000 4025 0.000000 0.000000
1/14/2013 4,200,000,000 4200 0.043478 0.001890
1/15/2013 4,250,000,000 4250 0.011905 0.000142
1/16/2013 4,300,000,000 4300 0.011765 0.000138
1/17/2013 4,300,000,000 4300 0.000000 0.000000
1/18/2013 4,350,000,000 4350 0.011628 0.000135
1/21/2013 4,275,000,000 4275 -0.017241 0.000297
1/22/2013 4,200,000,000 4200 -0.017544 0.000308
1/23/2013 4,225,000,000 4225 0.005952 0.000035
1/25/2013 4,400,000,000 4400 0.041420 0.001716
1/28/2013 4,375,000,000 4375 -0.005682 0.000032
1/29/2013 4,325,000,000 4325 -0.011429 0.000131
1/30/2013 4,450,000,000 4450 0.028902 0.000835
1/31/2013 4,525,000,000 4525 0.016854 0.000284
2/1/2013 4,500,000,000 4500 -0.005525 0.000031
2/4/2013 4,450,000,000 4450 -0.011111 0.000123
2/5/2013 4,425,000,000 4425 -0.005618 0.000032
2/6/2013 4,400,000,000 4400 -0.005650 0.000032
2/7/2013 4,400,000,000 4400 0.000000 0.000000
2/8/2013 4,425,000,000 4425 0.005682 0.000032
2/11/2013 4,375,000,000 4375 -0.011299 0.000128
2/12/2013 4,475,000,000 4475 0.022857 0.000522
2/13/2013 4,500,000,000 4500 0.005587 0.000031
2/14/2013 4,550,000,000 4550 0.011111 0.000123
2/15/2013 4,550,000,000 4550 0.000000 0.000000
2/18/2013 4,550,000,000 4550 0.000000 0.000000
2/19/2013 4,550,000,000 4550 0.000000 0.000000
2/20/2013 4,625,000,000 4625 0.016484 0.000272
2/21/2013 4,675,000,000 4675 0.010811 0.000117
2/22/2013 4,775,000,000 4775 0.021390 0.000458
2/25/2013 4,875,000,000 4875 0.020942 0.000439
2/26/2013 4,850,000,000 4850 -0.005128 0.000026
2/27/2013 4,950,000,000 4950 0.020619 0.000425
2/28/2013 5,025,000,000 5025 0.015152 0.000230
3/1/2013 4,950,000,000 4950 -0.014925 0.000223
3/4/2013 4,950,000,000 4950 0.000000 0.000000
3/5/2013 4,775,000,000 4775 -0.035354 0.001250
3/6/2013 4,825,000,000 4825 0.010471 0.000110
3/7/2013 4,925,000,000 4925 0.020725 0.000430
3/8/2013 4,925,000,000 4925 0.000000 0.000000
3/11/2013 4,975,000,000 4975 0.010152 0.000103
3/13/2013 4,950,000,000 4950 -0.005025 0.000025
3/14/2013 4,925,000,000 4925 -0.005051 0.000026
3/15/2013 5,000,000,000 5000 0.015228 0.000232
3/18/2013 4,950,000,000 4950 -0.010000 0.000100
3/19/2013 5,025,000,000 5025 0.015152 0.000230
3/20/2013 4,950,000,000 4950 -0.014925 0.000223
3/21/2013 4,800,000,000 4800 -0.030303 0.000918
3/22/2013 4,775,000,000 4775 -0.005208 0.000027
3/25/2013 4,775,000,000 4775 0.000000 0.000000
3/26/2013 4,800,000,000 4800 0.005236 0.000027
3/27/2013 5,000,000,000 5000 0.041667 0.001736
3/28/2013 5,000,000,000 5000 0.000000 0.000000
4/1/2013 4,950,000,000 4950 -0.010000 0.000100
4/2/2013 4,925,000,000 4925 -0.005051 0.000026
4/3/2013 5,000,000,000 5000 0.015228 0.000232
4/4/2013 4,950,000,000 4950 -0.010000 0.000100
4/5/2013 5,025,000,000 5025 0.015152 0.000230
4/8/2013 5,000,000,000 5000 -0.004975 0.000025
4/9/2013 5,100,000,000 5100 0.020000 0.000400
4/10/2013 5,050,000,000 5050 -0.009804 0.000096
4/11/2013 5,100,000,000 5100 0.009901 0.000098
4/12/2013 5,175,000,000 5175 0.014706 0.000216
4/15/2013 5,075,000,000 5075 -0.019324 0.000373
4/16/2013 5,175,000,000 5175 0.019704 0.000388
4/17/2013 5,300,000,000 5300 0.024155 0.000583
4/18/2013 5,375,000,000 5375 0.014151 0.000200
4/19/2013 5,300,000,000 5300 -0.013953 0.000195
4/22/2013 5,350,000,000 5350 0.009434 0.000089
4/23/2013 5,275,000,000 5275 -0.014019 0.000197
4/24/2013 5,250,000,000 5250 -0.004739 0.000022
4/25/2013 5,300,000,000 5300 0.009524 0.000091
4/26/2013 5,325,000,000 5325 0.004717 0.000022
4/29/2013 5,300,000,000 5300 -0.004695 0.000022
4/30/2013 5,250,000,000 5250 -0.009434 0.000089
5/1/2013 5,275,000,000 5275 0.004762 0.000023
5/2/2013 5,075,000,000 5075 -0.037915 0.001438
5/3/2013 4,900,000,000 4900 -0.034483 0.001189
5/6/2013 5,025,000,000 5025 0.025510 0.000651
5/7/2013 5,125,000,000 5125 0.019900 0.000396
5/8/2013 5,175,000,000 5175 0.009756 0.000095
5/10/2013 5,150,000,000 5150 -0.004831 0.000023
5/13/2013 5,025,000,000 5025 -0.024272 0.000589
5/14/2013 5,075,000,000 5075 0.009950 0.000099
5/15/2013 5,075,000,000 5075 0.000000 0.000000
5/16/2013 5,025,000,000 5025 -0.009852 0.000097
5/17/2013 5,025,000,000 5025 0.000000 0.000000
5/20/2013 5,200,000,000 5200 0.034826 0.001213
5/21/2013 5,175,000,000 5175 -0.004808 0.000023
5/22/2013 5,125,000,000 5125 -0.009662 0.000093
5/23/2013 5,075,000,000 5075 -0.009756 0.000095
5/24/2013 5,025,000,000 5025 -0.009852 0.000097
5/27/2013 5,000,000,000 5000 -0.004975 0.000025
5/28/2013 5,100,000,000 5100 0.020000 0.000400
5/29/2013 5,100,000,000 5100 0.000000 0.000000
5/30/2013 4,950,000,000 4950 -0.029412 0.000865
5/31/2013 4,850,000,000 4850 -0.020202 0.000408
6/3/2013 4,800,000,000 4800 -0.010309 0.000106
6/4/2013 4,925,000,000 4925 0.026042 0.000678
6/5/2013 4,800,000,000 4800 -0.025381 0.000644
6/7/2013 4,700,000,000 4700 -0.020833 0.000434
6/10/2013 4,525,000,000 4525 -0.037234 0.001386
6/11/2013 4,425,000,000 4425 -0.022099 0.000488
6/12/2013 4,400,000,000 4400 -0.005650 0.000032
6/13/2013 4,450,000,000 4450 0.011364 0.000129
6/14/2013 4,725,000,000 4725 0.061798 0.003819
6/17/2013 4,550,000,000 4550 -0.037037 0.001372
6/18/2013 4,700,000,000 4700 0.032967 0.001087
6/19/2013 4,700,000,000 4700 0.000000 0.000000
6/20/2013 4,375,000,000 4375 -0.069149 0.004782
6/21/2013 4,300,000,000 4300 -0.017143 0.000294
6/24/2013 4,200,000,000 4200 -0.023256 0.000541
6/25/2013 4,125,000,000 4125 -0.017857 0.000319
6/26/2013 4,275,000,000 4275 0.036364 0.001322
6/27/2013 4,375,000,000 4375 0.023392 0.000547
6/28/2013 4,500,000,000 4500 0.028571 0.000816
7/1/2013 4,450,000,000 4450 -0.011111 0.000123
7/2/2013 4,275,000,000 4275 -0.039326 0.001547
7/3/2013 4,050,000,000 4050 -0.052632 0.002770
7/4/2013 4,075,000,000 4075 0.006173 0.000038
7/5/2013 4,075,000,000 4075 0.000000 0.000000
7/8/2013 3,775,000,000 3775 -0.073620 0.005420
7/9/2013 3,750,000,000 3750 -0.006623 0.000044
7/10/2013 3,875,000,000 3875 0.033333 0.001111
7/11/2013 4,250,000,000 4250 0.096774 0.009365
7/12/2013 4,125,000,000 4125 -0.029412 0.000865
7/15/2013 4,100,000,000 4100 -0.006061 0.000037
7/16/2013 4,225,000,000 4225 0.030488 0.000930
7/17/2013 4,250,000,000 4250 0.005917 0.000035
7/18/2013 4,400,000,000 4400 0.035294 0.001246
7/19/2013 4,350,000,000 4350 -0.011364 0.000129
7/22/2013 4,250,000,000 4250 -0.022989 0.000528
7/23/2013 4,475,000,000 4475 0.052941 0.002803
7/24/2013 4,450,000,000 4450 -0.005587 0.000031
7/25/2013 4,300,000,000 4300 -0.033708 0.001136
7/26/2013 4,375,000,000 4375 0.017442 0.000304
7/29/2013 4,350,000,000 4350 -0.005714 0.000033
7/30/2013 4,350,000,000 4350 0.000000 0.000000
7/31/2013 4,450,000,000 4450 0.022989 0.000528
8/1/2013 4,400,000,000 4400 -0.011236 0.000126
8/2/2013 4,350,000,000 4350 -0.011364 0.000129
8/12/2013 4,200,000,000 4200 -0.034483 0.001189
8/13/2013 4,200,000,000 4200 0.000000 0.000000
8/14/2013 4,300,000,000 4300 0.023810 0.000567
8/15/2013 4,300,000,000 4300 0.000000 0.000000
8/16/2013 4,150,000,000 4150 -0.034884 0.001217
8/19/2013 3,825,000,000 3825 -0.078313 0.006133
8/20/2013 3,900,000,000 3900 0.019608 0.000384
8/21/2013 3,800,000,000 3800 -0.025641 0.000657
8/22/2013 3,725,000,000 3725 -0.019737 0.000390
8/23/2013 3,700,000,000 3700 -0.006711 0.000045
8/26/2013 3,550,000,000 3550 -0.040541 0.001644
8/27/2013 3,325,000,000 3325 -0.063380 0.004017
8/28/2013 3,450,000,000 3450 0.037594 0.001413
8/29/2013 3,475,000,000 3475 0.007246 0.000053
8/30/2013 3,550,000,000 3550 0.021583 0.000466
9/2/2013 3,350,000,000 3350 -0.056338 0.003174
9/3/2013 3,500,000,000 3500 0.044776 0.002005
9/4/2013 3,400,000,000 3400 -0.028571 0.000816
9/5/2013 3,400,000,000 3400 0.000000 0.000000
9/6/2013 3,350,000,000 3350 -0.014706 0.000216
9/9/2013 3,475,000,000 3475 0.037313 0.001392
9/10/2013 3,950,000,000 3950 0.136691 0.018684
9/11/2013 4,000,000,000 4000 0.012658 0.000160
9/12/2013 4,175,000,000 4175 0.043750 0.001914
9/13/2013 4,250,000,000 4250 0.017964 0.000323
9/16/2013 4,475,000,000 4475 0.052941 0.002803
9/17/2013 4,500,000,000 4500 0.005587 0.000031
9/18/2013 4,325,000,000 4325 -0.038889 0.001512
9/19/2013 4,625,000,000 4625 0.069364 0.004811
9/20/2013 4,475,000,000 4475 -0.032432 0.001052
9/23/2013 4,350,000,000 4350 -0.027933 0.000780
9/24/2013 4,300,000,000 4300 -0.011494 0.000132
9/25/2013 4,125,000,000 4125 -0.040698 0.001656
9/26/2013 4,100,000,000 4100 -0.006061 0.000037
9/27/2013 4,150,000,000 4150 0.012195 0.000149
9/30/2013 3,975,000,000 3975 -0.042169 0.001778
10/1/2013 4,100,000,000 4100 0.031447 0.000989
10/2/2013 4,175,000,000 4175 0.018293 0.000335
10/3/2013 4,200,000,000 4200 0.005988 0.000036
10/4/2013 4,175,000,000 4175 -0.005952 0.000035
10/7/2013 4,150,000,000 4150 -0.005988 0.000036
10/8/2013 4,300,000,000 4300 0.036145 0.001306
10/9/2013 4,350,000,000 4350 0.011628 0.000135
10/10/2013 4,375,000,000 4375 0.005747 0.000033
10/11/2013 4,275,000,000 4275 -0.022857 0.000522
10/16/2013 4,225,000,000 4225 -0.011696 0.000137
10/17/2013 4,175,000,000 4175 -0.011834 0.000140
10/18/2013 4,125,000,000 4125 -0.011976 0.000143
10/21/2013 4,150,000,000 4150 0.006061 0.000037
10/22/2013 4,075,000,000 4075 -0.018072 0.000327
10/23/2013 4,225,000,000 4225 0.036810 0.001355
10/24/2013 4,400,000,000 4400 0.041420 0.001716
10/25/2013 4,400,000,000 4400 0.000000 0.000000
10/28/2013 4,350,000,000 4350 -0.011364 0.000129
10/29/2013 4,325,000,000 4325 -0.005747 0.000033
10/30/2013 4,375,000,000 4375 0.011561 0.000134
10/31/2013 4,300,000,000 4300 -0.017143 0.000294
11/1/2013 4,175,000,000 4175 -0.029070 0.000845
11/4/2013 4,125,000,000 4125 -0.011976 0.000143
11/6/2013 4,125,000,000 4125 0.000000 0.000000
11/7/2013 4,175,000,000 4175 0.012121 0.000147
11/8/2013 4,100,000,000 4100 -0.017964 0.000323
11/11/2013 4,000,000,000 4000 -0.024390 0.000595
11/12/2013 3,850,000,000 3850 -0.037500 0.001406
11/13/2013 3,725,000,000 3725 -0.032468 0.001054
11/14/2013 3,950,000,000 3950 0.060403 0.003648
11/15/2013 3,900,000,000 3900 -0.012658 0.000160
11/18/2013 3,925,000,000 3925 0.006410 0.000041
11/19/2013 3,850,000,000 3850 -0.019108 0.000365
11/20/2013 3,825,000,000 3825 -0.006494 0.000042
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11/25/2013 3,900,000,000 3900 0.033113 0.001096
11/26/2013 3,850,000,000 3850 -0.012821 0.000164
11/27/2013 3,775,000,000 3775 -0.019481 0.000379
11/28/2013 3,750,000,000 3750 -0.006623 0.000044
11/29/2013 3,825,000,000 3825 0.020000 0.000400
12/2/2013 3,850,000,000 3850 0.006536 0.000043
12/3/2013 3,925,000,000 3925 0.019481 0.000379
12/4/2013 3,825,000,000 3825 -0.025478 0.000649
12/5/2013 3,800,000,000 3800 -0.006536 0.000043
12/6/2013 3,650,000,000 3650 -0.039474 0.001558
12/9/2013 3,825,000,000 3825 0.047945 0.002299
12/10/2013 3,925,000,000 3925 0.026144 0.000683
12/11/2013 3,900,000,000 3900 -0.006369 0.000041
12/12/2013 3,825,000,000 3825 -0.019231 0.000370
12/13/2013 3,850,000,000 3850 0.006536 0.000043
12/16/2013 3,750,000,000 3750 -0.025974 0.000675
12/17/2013 3,925,000,000 3925 0.046667 0.002178
12/18/2013 3,850,000,000 3850 -0.019108 0.000365
12/19/2013 3,975,000,000 3975 0.032468 0.001054
12/20/2013 4,000,000,000 4000 0.006289 0.000040
12/23/2013 3,925,000,000 3925 -0.018750 0.000352
12/24/2013 3,900,000,000 3900 -0.006369 0.000041
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1/7/2014 3,812,500,000 3812.5 -0.003268 0.000011
1/8/2014 3,912,500,000 3912.5 0.026230 0.000688
1/9/2014 3,900,000,000 3900 -0.003195 0.000010
1/10/2014 4,125,000,000 4125 0.057692 0.003328
1/13/2014 4,400,000,000 4400 0.066667 0.004444
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1/22/2014 4,475,000,000 4475 0.019943 0.000398
1/23/2014 4,437,500,000 4437.5 -0.008380 0.000070
1/24/2014 4,337,500,000 4337.5 -0.022535 0.000508
1/27/2014 4,150,000,000 4150 -0.043228 0.001869
1/28/2014 4,137,500,000 4137.5 -0.003012 0.000009
1/29/2014 4,350,000,000 4350 0.051360 0.002638
1/30/2014 4,350,000,000 4350 0.000000 0.000000
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2/5/2014 4,300,000,000 4300 0.008798 0.000077
2/6/2014 4,312,500,000 4312.5 0.002907 0.000008
2/7/2014 4,387,500,000 4387.5 0.017391 0.000302
2/10/2014 4,375,000,000 4375 -0.002849 0.000008
2/11/2014 4,475,000,000 4475 0.022857 0.000522
2/12/2014 4,487,500,000 4487.5 0.002793 0.000008
2/13/2014 4,500,000,000 4500 0.002786 0.000008
2/14/2014 4,512,500,000 4512.5 0.002778 0.000008
2/17/2014 4,575,000,000 4575 0.013850 0.000192
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2/21/2014 4,712,500,000 4712.5 0.021680 0.000470
2/24/2014 4,700,000,000 4700 -0.002653 0.000007
2/25/2014 4,525,000,000 4525 -0.037234 0.001386
2/26/2014 4,475,000,000 4475 -0.011050 0.000122
2/27/2014 4,500,000,000 4500 0.005587 0.000031
2/28/2014 4,550,000,000 4550 0.011111 0.000123
3/3/2014 4,550,000,000 4550 0.000000 0.000000
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3/5/2014 4,700,000,000 4700 0.030137 0.000908
3/6/2014 4,700,000,000 4700 0.000000 0.000000
3/7/2014 4,625,000,000 4625 -0.015957 0.000255
3/10/2014 4,600,000,000 4600 -0.005405 0.000029
3/11/2014 4,687,500,000 4687.5 0.019022 0.000362
3/12/2014 4,612,500,000 4612.5 -0.016000 0.000256
3/13/2014 4,650,000,000 4650 0.008130 0.000066
3/14/2014 5,075,000,000 5075 0.091398 0.008354
3/17/2014 4,987,500,000 4987.5 -0.017241 0.000297
3/18/2014 4,862,500,000 4862.5 -0.025063 0.000628
3/19/2014 4,887,500,000 4887.5 0.005141 0.000026
3/20/2014 4,675,000,000 4675 -0.043478 0.001890
3/21/2014 4,687,500,000 4687.5 0.002674 0.000007
3/24/2014 4,750,000,000 4750 0.013333 0.000178
3/25/2014 4,762,500,000 4762.5 0.002632 0.000007
3/26/2014 4,787,500,000 4787.5 0.005249 0.000028
3/27/2014 4,700,000,000 4700 -0.018277 0.000334
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4/1/2014 4,975,000,000 4975 0.052910 0.002799
4/2/2014 5,075,000,000 5075 0.020101 0.000404
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4/4/2014 5,062,500,000 5062.5 -0.016990 0.000289
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4/11/2014 4,850,000,000 4850 0.005181 0.000027
4/14/2014 4,875,000,000 4875 0.005155 0.000027
4/15/2014 4,875,000,000 4875 0.000000 0.000000
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4/17/2014 4,925,000,000 4925 -0.012531 0.000157
4/21/2014 4,912,500,000 4912.5 -0.002538 0.000006
4/22/2014 4,925,000,000 4925 0.002545 0.000006
4/23/2014 4,950,000,000 4950 0.005076 0.000026
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4/25/2014 4,950,000,000 4950 0.002532 0.000006
4/28/2014 4,875,000,000 4875 -0.015152 0.000230
4/29/2014 4,900,000,000 4900 0.005128 0.000026
4/30/2014 4,912,500,000 4912.5 0.002551 0.000007
5/2/2014 4,937,500,000 4937.5 0.005089 0.000026
5/5/2014 4,925,000,000 4925 -0.002532 0.000006
5/6/2014 4,937,500,000 4937.5 0.002538 0.000006
5/7/2014 4,987,500,000 4987.5 0.010127 0.000103
5/8/2014 5,012,500,000 5012.5 0.005013 0.000025
5/9/2014 5,037,500,000 5037.5 0.004988 0.000025
5/12/2014 4,987,500,000 4987.5 -0.009926 0.000099
5/13/2014 5,037,500,000 5037.5 0.010025 0.000101
5/14/2014 5,162,500,000 5162.5 0.024814 0.000616
5/16/2014 5,300,000,000 5300 0.026634 0.000709
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5/28/2014 5,187,500,000 5187.5 0.004843 0.000023
5/30/2014 5,087,500,000 5087.5 -0.019277 0.000372
6/2/2014 5,100,000,000 5100 0.002457 0.000006
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6/5/2014 5,100,000,000 5100 0.004926 0.000024
6/6/2014 5,037,500,000 5037.5 -0.012255 0.000150
6/9/2014 4,900,000,000 4900 -0.027295 0.000745
6/10/2014 4,987,500,000 4987.5 0.017857 0.000319
6/11/2014 4,975,000,000 4975 -0.002506 0.000006
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6/30/2014 4,862,500,000 4862.5 0.007772 0.000060
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7/4/2014 4,837,500,000 4837.5 0.002591 0.000007
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7/8/2014 5,075,000,000 5075 0.022670 0.000514
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7/11/2014 5,250,000,000 5250 0.002387 0.000006
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8/7/2014 5,100,000,000 5100 -0.007299 0.000053
8/8/2014 5,100,000,000 5100 0.000000 0.000000
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8/12/2014 5,250,000,000 5250 0.002387 0.000006
8/13/2014 5,250,000,000 5250 0.000000 0.000000
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8/27/2014 5,275,000,000 5275 0.007160 0.000051
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8/29/2014 5,187,500,000 5187.5 -0.014252 0.000203
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9/8/2014 5,275,000,000 5275 0.007160 0.000051
9/9/2014 5,237,500,000 5237.5 -0.007109 0.000051
9/10/2014 5,225,000,000 5225 -0.002387 0.000006
9/11/2014 5,200,000,000 5200 -0.004785 0.000023
9/12/2014 5,100,000,000 5100 -0.019231 0.000370
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9/18/2014 5,212,500,000 5212.5 0.014599 0.000213
9/19/2014 5,262,500,000 5262.5 0.009592 0.000092
9/22/2014 5,325,000,000 5325 0.011876 0.000141
9/23/2014 5,350,000,000 5350 0.004695 0.000022
9/24/2014 5,275,000,000 5275 -0.014019 0.000197
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9/26/2014 5,025,000,000 5025 -0.045131 0.002037
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10/6/2014 4,912,500,000 4912.5 0.018135 0.000329
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10/8/2014 4,750,000,000 4750 -0.025641 0.000657
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10/16/2014 4,825,000,000 4825 0.000000 0.000000
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10/20/2014 5,062,500,000 5062.5 0.020151 0.000406
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10/22/2014 5,050,000,000 5050 0.007481 0.000056
10/23/2014 5,087,500,000 5087.5 0.007426 0.000055
10/24/2014 5,050,000,000 5050 -0.007371 0.000054
10/27/2014 4,987,500,000 4987.5 -0.012376 0.000153
10/28/2014 5,000,000,000 5000 0.002506 0.000006
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10/30/2014 5,100,000,000 5100 0.002457 0.000006
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11/3/2014 5,187,500,000 5187.5 0.002415 0.000006
11/4/2014 5,250,000,000 5250 0.012048 0.000145
11/5/2014 5,212,500,000 5212.5 -0.007143 0.000051
11/6/2014 5,162,500,000 5162.5 -0.009592 0.000092
11/7/2014 5,087,500,000 5087.5 -0.014528 0.000211
11/10/2014 5,150,000,000 5150 0.012285 0.000151
11/11/2014 5,262,500,000 5262.5 0.021845 0.000477
11/12/2014 5,275,000,000 5275 0.002375 0.000006
11/13/2014 5,212,500,000 5212.5 -0.011848 0.000140
11/14/2014 5,250,000,000 5250 0.007194 0.000052
11/17/2014 5,237,500,000 5237.5 -0.002381 0.000006
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11/20/2014 5,225,000,000 5225 -0.007126 0.000051
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11/24/2014 5,250,000,000 5250 0.012048 0.000145
11/25/2014 5,225,000,000 5225 -0.004762 0.000023
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11/27/2014 5,237,500,000 5237.5 -0.004751 0.000023
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12/1/2014 5,312,500,000 5312.5 0.009501 0.000090
12/2/2014 5,375,000,000 5375 0.011765 0.000138
12/3/2014 5,350,000,000 5350 -0.004651 0.000022
12/4/2014 5,312,500,000 5312.5 -0.007009 0.000049
12/5/2014 5,325,000,000 5325 0.002353 0.000006
12/8/2014 5,275,000,000 5275 -0.009390 0.000088
12/9/2014 5,262,500,000 5262.5 -0.002370 0.000006
12/10/2014 5,387,500,000 5387.5 0.023753 0.000564
12/11/2014 5,362,500,000 5362.5 -0.004640 0.000022
12/12/2014 5,375,000,000 5375 0.002331 0.000005
12/15/2014 5,262,500,000 5262.5 -0.020930 0.000438
12/16/2014 5,112,500,000 5112.5 -0.028504 0.000812
12/17/2014 5,300,000,000 5300 0.036675 0.001345
12/18/2014 5,325,000,000 5325 0.004717 0.000022
12/19/2014 5,325,000,000 5325 0.000000 0.000000
12/22/2014 5,312,500,000 5312.5 -0.002347 0.000006
12/23/2014 5,300,000,000 5300 -0.002353 0.000006
12/24/2014 5,350,000,000 5350 0.009434 0.000089
12/29/2014 5,362,500,000 5362.5 0.002336 0.000005
12/30/2014 5,387,500,000 5387.5 0.004662 0.000022
1/2/2015 5,412,500,000 5412.5 0.004640 0.000022
1/5/2015 5,400,000,000 5400 -0.002309 0.000005
1/6/2015 5,362,500,000 5362.5 -0.006944 0.000048
1/7/2015 5,425,000,000 5425 0.011655 0.000136
1/8/2015 5,475,000,000 5475 0.009217 0.000085
1/9/2015 5,562,500,000 5562.5 0.015982 0.000255
1/12/2015 5,412,500,000 5412.5 -0.026966 0.000727
1/13/2015 5,375,000,000 5375 -0.006928 0.000048
1/14/2015 5,362,500,000 5362.5 -0.002326 0.000005
1/15/2015 5,450,000,000 5450 0.016317 0.000266
1/16/2015 5,350,000,000 5350 -0.018349 0.000337
1/19/2015 5,362,500,000 5362.5 0.002336 0.000005
1/20/2015 5,375,000,000 5375 0.002331 0.000005
1/21/2015 5,487,500,000 5487.5 0.020930 0.000438
1/22/2015 5,500,000,000 5500 0.002278 0.000005
1/23/2015 5,687,500,000 5687.5 0.034091 0.001162
1/26/2015 5,550,000,000 5550 -0.024176 0.000584
1/27/2015 5,537,500,000 5537.5 -0.002252 0.000005
1/28/2015 5,487,500,000 5487.5 -0.009029 0.000082
1/29/2015 5,487,500,000 5487.5 0.000000 0.000000
1/30/2015 5,500,000,000 5500 0.002278 0.000005
2/2/2015 5,625,000,000 5625 0.022727 0.000517
2/3/2015 5,675,000,000 5675 0.008889 0.000079
2/4/2015 5,687,500,000 5687.5 0.002203 0.000005
2/5/2015 5,625,000,000 5625 -0.010989 0.000121
2/6/2015 5,675,000,000 5675 0.008889 0.000079
2/9/2015 5,850,000,000 5850 0.030837 0.000951
2/10/2015 5,812,500,000 5812.5 -0.006410 0.000041
2/11/2015 5,875,000,000 5875 0.010753 0.000116
2/12/2015 5,887,500,000 5887.5 0.002128 0.000005
2/13/2015 5,950,000,000 5950 0.010616 0.000113
2/16/2015 5,887,500,000 5887.5 -0.010504 0.000110
2/17/2015 5,850,000,000 5850 -0.006369 0.000041
2/18/2015 5,962,500,000 5962.5 0.019231 0.000370
2/20/2015 6,037,500,000 6037.5 0.012579 0.000158
2/23/2015 5,937,500,000 5937.5 -0.016563 0.000274
2/24/2015 5,937,500,000 5937.5 0.000000 0.000000
2/25/2015 5,950,000,000 5950 0.002105 0.000004
2/26/2015 5,937,500,000 5937.5 -0.002101 0.000004
2/27/2015 6,000,000,000 6000 0.010526 0.000111
3/2/2015 6,000,000,000 6000 0.000000 0.000000
3/3/2015 5,950,000,000 5950 -0.008333 0.000069
3/4/2015 5,925,000,000 5925 -0.004202 0.000018
3/5/2015 5,912,500,000 5912.5 -0.002110 0.000004
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10/24/2017 6,825,000,000 6825 -0.017986 0.000323
10/25/2017 7,000,000,000 7000 0.025641 0.000657
10/26/2017 7,025,000,000 7025 0.003571 0.000013
10/27/2017 6,950,000,000 6950 -0.010676 0.000114
10/30/2017 7,075,000,000 7075 0.017986 0.000323
10/31/2017 7,050,000,000 7050 -0.003534 0.000012
11/1/2017 7,100,000,000 7100 0.007092 0.000050
11/2/2017 7,275,000,000 7275 0.024648 0.000608
11/3/2017 7,250,000,000 7250 -0.003436 0.000012
11/6/2017 7,225,000,000 7225 -0.003448 0.000012
11/7/2017 7,125,000,000 7125 -0.013841 0.000192
11/8/2017 7,175,000,000 7175 0.007018 0.000049
11/9/2017 7,075,000,000 7075 -0.013937 0.000194
11/10/2017 7,050,000,000 7050 -0.003534 0.000012
11/13/2017 7,050,000,000 7050 0.000000 0.000000
11/14/2017 6,950,000,000 6950 -0.014184 0.000201
11/15/2017 6,975,000,000 6975 0.003597 0.000013
11/16/2017 7,100,000,000 7100 0.017921 0.000321
11/17/2017 7,325,000,000 7325 0.031690 0.001004
11/20/2017 7,425,000,000 7425 0.013652 0.000186
11/21/2017 7,400,000,000 7400 -0.003367 0.000011
11/22/2017 7,375,000,000 7375 -0.003378 0.000011
11/23/2017 7,450,000,000 7450 0.010169 0.000103
11/24/2017 7,450,000,000 7450 0.000000 0.000000
11/27/2017 7,425,000,000 7425 -0.003356 0.000011
11/28/2017 7,425,000,000 7425 0.000000 0.000000
11/29/2017 7,400,000,000 7400 -0.003367 0.000011
11/30/2017 7,400,000,000 7400 0.000000 0.000000
12/1/2017 7,400,000,000 7400 0.000000 0.000000
12/4/2017 7,450,000,000 7450 0.006757 0.000046
12/5/2017 7,475,000,000 7475 0.003356 0.000011
12/6/2017 7,475,000,000 7475 0.000000 0.000000
12/7/2017 7,350,000,000 7350 -0.016722 0.000280
12/8/2017 7,475,000,000 7475 0.017007 0.000289
12/11/2017 7,475,000,000 7475 0.000000 0.000000
12/12/2017 7,450,000,000 7450 -0.003344 0.000011
12/13/2017 7,475,000,000 7475 0.003356 0.000011
12/14/2017 7,475,000,000 7475 0.000000 0.000000
12/15/2017 7,425,000,000 7425 -0.006689 0.000045
12/18/2017 7,500,000,000 7500 0.010101 0.000102
12/19/2017 7,475,000,000 7475 -0.003333 0.000011
12/20/2017 7,450,000,000 7450 -0.003344 0.000011
12/21/2017 7,625,000,000 7625 0.023490 0.000552
12/22/2017 7,675,000,000 7675 0.006557 0.000043
12/25/2017 7,675,000,000 7675 0.000000 0.000000
12/26/2017 7,675,000,000 7675 0.000000 0.000000
12/27/2017 8,000,000,000 8000 0.042345 0.001793
12/28/2017 7,950,000,000 7950 -0.006250 0.000039
12/29/2017 8,000,000,000 8000 0.006289 0.000040
RATA-RATA RETURN 0.000733

VARIAN BMRI 47%
STANDAR DEVIASI 69%
INPUTS:
D0 = 199.34 Last dividend the company paid
rs = 32% Stockholders' required return
g0,1 = 17% Growth rate for Year 1 only
gL = 2% Constant long-run growth rate all years after Years
Growth rate 17% 0% 23% 2% 2%

Year 0 1 2 3 4 dst
Dividends 234.048 212.913 261.45 266.27
PV Dividend 199.338 177.9833 123.1263 114.9771 902.61017
SUM ( PV th 1 - th 3 ) 615.4246 902.61017

Valuasi saham BMRI 1518.035
INPUTS:
Years to maturity = N = 15
Coupon payment = INT = $ 90.00
Par Value = M = $ 1,000.00
Required return = rd = 9%
1. Step by step : Divide each cash flow by ( 1+rd )t
Coupon Payment PVPayment

of Coupon
Year ( t ) Par Value PV of Par Value
1 90 82.57
2 90 75.75
3 90 69.5
4 90 63.76
5 90 58.49
6 90 53.66
7 90 49.23
8 90 45.17
9 90 41.44
10 90 38.02
11 90 34.88
12 90 32
13 90 29.36
14 90 26.93
15 90 24.71 1 274.54
Total = 725.47
VB = PV of all coupon payments + PV of par value = 1000.0
Inputs : 15 0 90
2. Financial Calculator: N I/YR PV PMT
Output: -1000.0
3. Excel : PV function : PVN = = PV(9%,15,90,1000)

Fixed Inputs : PVN = = PV(9%,15,90,1000)
Cell references : PVN = =PV(C23,C20,C21,C22)
1000
FV
($1,000.00)
($1,000.00)
PROPORSI 2017 % 2016 %
Hutang 888,026,817 99% 824,559,898 99%
Saham Biasa 11,666,667 1% 11,666,667 1%
899,693,484 100% 836,226,565 100%
rd
Suku Bunga Utang 3.06% 3.02%
Pajak 20.60% 27.40%
rs
Dividen 266.27 261.45
Harga Saham 8,000 5,787
Growth Dividen 2% 2%
Biaya Modal
Kd 2.43% 2.19%
Ke 5.172% 6.518%
WACC 7.503% 8.589%
2015 % 2014 % 2013 %
736,198,705 98% 697,019,624 98% 596,735,488 98%
11,666,667 2% 11,666,667 2% 11,666,667 2%
747,865,372 100% 708,686,291 100% 608,402,155 100%
3.56% 3.37% 2.75%

21.06% 20.42% 21.98%
212.913 234.048 199.338

4,625 5,387 3,925
22.80% 0% 17%
2.81% 2.68% 2.15%

27.400% 4.345% 22.491%
29.739% 6.911% 24.164%
Panel A: Inputs for Project Cash Flows and Cost of Capital, r
INPUTS:
r= 10%
Initial Cost Expected Caassh Flows
Year 0 1 2 3
Project S -$10,000 $5,300 $4,300 $1,874
Project L -$10,000 $1,900 $2,700 $2,345
Panel B: Summary of Selected Evaluation Measures

Project S Project L
Net present value, NPV $804.38 $1,048.02
Internal rate of return, IRR 14.69% 13.79%
Modified IRR, MIRR 12.15% 10.19%
Profitability indes, PI 1.08 1.1
Payback 2.21 3.39
Discounted payback 3.212 3.80
INPUTS:
r= 10%
Year 0 1 2 3
Project S -$10,000 $5,300 $4,300 $1,874
↙ ↓ ↓
4818.18 ← ↙ ↓
3553.72 ← ← ↙
1407.96 ← ← ←
1024.52 ← ← ←
NPVS = $ 804.38 Long way:
Sum the PVs of the CFs to find NPV
Year 0 1 2 3
Project L -$10,000 $1,900 $2,700 $2,345
Short way: Use Excel's NPV function
NPVL = $1,048.02
= NPV(C21;D34:G34)+C34
INPUTS:
r= 10%
Year 0 1 2 3
Project S -$10,000 $5,300 $4,300 $1,874
↙ ↓ ↓
4621.31 ← ↓ ↙
3269.25 ← ← ↙
1242.33 ← ← ←
867.06 ← ← ←
Long way: Try a value for r, sum the PVS of the CFS to
NPVS = $ -0 find VPV. If NPV is not zero, try another value for r. Or
use Goal Seek to find the value of r that makes the NPV
=0
IRR = r= 14.69% Value of r that makes NPV = 0

Year 0 1 2 3
Project L -$10,000 $1,900 $2,700 $2,345
Short way: Use Excel's IRR function = IRR (C58:G58)
IRRL = 13.79%
INPUTS:
r= 10%
Initial Cost and Expected Cash Flows
Year 0 1 2 3
Project S -$10,000 $5,300 $4,300 $1,874
↓ ↓ ↓ ↘→
↓ ↓ ↘ →
Present Value of ↓ ↘ → →
Begative CF (PV) = -$10,000 Terminal Value of Positive CF (TV) =
Calculator: N= 4, PV= -10000, PMT=0, FV= 15819. Press I/YR to get:

Excel Rate function-Easier: =RATE(G63;0;C68;G68)
Excel MIRR function-Easiest: =MIRR(C64;G64;C61;C61)
Year 0 1 2 3 4
Project L -$10,000 $1,900 $2,700 $2,345 $7,800
For Project L, using the MIRR function: =MIRR(B75;F75;B61;B61)

Project S: PIS = PV of future cash flows ÷ Initial cost
PIS = $ 10,804.38 ÷
PIS = 1.08
Project S: PIL = PV of future cash flows ÷ Initial cost

PIL = $ 11,048.02 ÷
PIL = 1.1
Project S Year 0 1 2
Cash flow -$10,000 $5,300 $4,300
Cumulative cash flow -$10,000 -$4,700 -$400
Intermediate calculation for payback - - -
Intermediate calculati
Manual calculation of Payback S = 2+ $400/$1,874 = 2.21 = IF(F367>0,E365+ABS(E367/F
Excel calculation of Payback S = 2.21
Project L Year 0 1 2
Cash flow -$10,000 $1,900 $2,700
Cumulative cash flow -$10,000 -$8,100 -$5,400
Manual calculation of Payback L = 3+ $3,055/$7,800 = 3.39

Alternative Excel calculation of Payback L =
=PERCENTRANK(D98:H98,0,6)*G96 3.39
Project WACC= 10%

Project S Year 0 1 2
Cash flow -$10,000 $5,300 $4,300
Cumulative cash flow -$10,000 $4,818 $3,554
Cumulative discounted CF -$10,000 -$5,182 -$1,628
Discountes Payback Ls= 3 + $220.14/$1,024.52 = 3.21

Excel calculation of Discounted Payback S=
3.21
=PERCENTRANK(D107:H107,0,6)*G104
Project L Year 0 1 2
Cash flow -$10,000 $1,900 $2,700
Cumulative cash flow -$10,000 $1,727 $2,231
-$10,000 -$8,273 -$6,041
Discounted Payback L = 3 + $4,279.49/$5,327.50 = 3.80

Excel calculation of Dsicontes Payback L =
3.80
=PERCENTRANK(D117:H117,0,6)*G114
lows
4
$1,500
$7,800
lows
4
$1,500
↓
↓
↓
↙
lows
4
$7,800
NPV function
34)+C34
lows
4
$1,500 IRRS = 14.686%
↓ IRRL = 13.786%
↓
↓
↙
m the PVS of the CFS to

nother value for r. Or
f r that makes the NPV
lows
4
$7,800
Flows
4
$1,500
2061
5203
7054
$15,819
MIRRS = 12.15%
MIRRS = 12.15%
MIRRS = 12.15%
12.78%
÷ Initial cost
$ 10,000
÷ Initial cost
$ 10,000
3 4
$1,874 $1,500
$1,474 $2,974
2.21 3.98
↑
Intermediate calculation:
= IF(F367>0,E365+ABS(E367/F366),"--")
2.21
3 4
$2,345 $7,800
-$3,055 $4,745
Payback switches from negative to

positive cash flow.
3 4
$1,874 $1,500
$1,408 $1,025
-$220 $804
Switches from negative to positive cash

flow.
3 4
$2,345 $7,800
$1,762 $5,328
-$4,279 $1,048
Switches from negative to positive cash

flow.
PENDAPATAN DAN BEBAN OPERASIONAL
Pendapatan Bunga dan Pendapatan Syariah
Beban Bunga dan Beban Syariah
PENDAPATAN BUNGA DAN SYARIAH - BERSIH
Pendapatan Premi
Beban Klaim
PENDAPATAN PREMI- BERSIH
PENDAPATAN BUNGA, SYARIAH DAN PREMI - BERSIH
Pendapatan Operasional Lainnya

Provisi dan komisi lainnya
Laba selisih kurs - bersih
Lain-lain
Jumlah Pendapatan Operasional Lainnya
Pembentukan Cadangan Kerugian Penurunan Nilai
Pembalikan Penyisihan Estimasi Kerugian atas Komitmen dan Kontinjensi
Pembalikan Penyisihan Kerugian

Keuntungan/(Kerugian) yang Belum Direalisasi dari Kenaikan/(Penurunan) Nilai
Wajar Efek-efek, Obligasi Pemerintah dan Investasi Pemegang Polis pada
Kontrak Unit-Linked
Keuntungan dari Penjualan Efek-efek dan Obligasi Pemerintah
Beban Operasional Lainnya
Lain-lain - bersih
Jumlah Beban Operasional Lainnya
LABA OPERASIONAL
Pendapatan Bukan Operasional - Bersih
LABA SEBELUM BEBAN PAJAK DAN KEPENTINGAN NONPENGENDALI
Beban Pajak
Kini
Tangguhan
Jumlah Beban Pajak - Bersih
LABA BERSIH
Pendapatan Komprehensif Lain

Selisih Kurs karena Penjabaran Laporan Keuangan dalam Mata Uang
Asing
Keuntungan/(Kerugian) Bersih yang Belum Direalisasi dari Kenaikan/

(Penurunan) Aset Keuangan Tersedia Untuk Dijual
Pajak Penghasilan Terkait dengan Laba Komprehensif Lain
Pendapatan/(Rugi) Komprehensif Lain - Setelah Pajak
TOTAL LABA KOMPREHENSIF
Laba Bersih yang Diatribusikan kepada:

Pemilik Entitas Induk
Kepentingan Nonpengendali
Laba Komprehensif yang Diatribusikan kepada:

Pemilik Entitas Induk
Kepentingan Nonpengendali
Dasar (dalam Rupiah penuh)

Dilusian (dalam Rupiah penuh)
Part A. Inputs and Definitions

S0 :
g:
S1 :
gSo :
A0* :
A0* / S0 :
L0* :
L0* / S0 :
Profit Margin ( M ) :
Payount ratio ( POR ) :
Part B. Additional Funds Needed ( AFN ) to Support Growth
AFN =
=
=
=
=
AFN =
PT BANK MANDIRI (PERSERO) Tbk. DAN ENTITAS ANAK
LAPORAN LABA RUGI KOMPREHENSIF KONSOLIDASIAN
UNTUK TAHUN-TAHUN YANG BERAKHIR PADA TANGGAL
31 DESEMBER
2013 2014 2015 2016 2017
50,208,842 62,637,842 71,570,127 76,709,888 79,501,530

-16,399,424 -23,505,518 -26,207,024 -24,884,519 -27,174,371
33,809,418 39,132,324 45,363,103 51,825,369 52,327,159
6,446,149 9,364,287 9,546,893 9,377,741 10,325,187

-3,820,143 -6,683,717 -6,409,823 -6,725,310 -7,860,112
2,626,006 2,680,570 3,137,070 2,652,431 2,465,075
36,435,424 41,812,994 48,500,173 54,477,800 54,792,234
8,704,095 9,131,975 10,014,810 11,440,002 12,483,134

1,853,099 1,587,639 2,238,098 2,265,234 2,888,082
4,129,443 3,968,201 6,125,770 5,581,189 6,910,425
14,686,637 14,687,815 18,378,678 19,286,425 22,281,641
-4,871,442 -5,718,130 -11,664,837 -24,943,938 -15,646,385
10,784 5,313 -198,450 181,459 -173,402
4,324 183,481 -179,242 117,637 -132,050
-219,353 146,521 -18,306 15,638 167,892
39,116 234,463 275,499 745,904 893,570
-9,431,337 -10,848,031 -12,376,655 -13,618,745 -14,858,642

-9,898,400 -11,448,310 -12,799,851 -13,958,211 -15,405,579
-3,204,042 -3,078,010 -3,578,037 -3,691,242 -4,749,528
-22,533,779 -25,374,351 -28,754,543 -31,268,198 -35,013,749
23,551,711 25,978,106 26,338,972 18,612,727 27,169,751
510,126 29,909 30,458 -39,762 -12,888
24,061,837 26,008,015 26,369,430 18,572,965 27,156,863

-5,288,489 -5,309,919 -5,548,058 -5,088,924 -5,593,293
56,586 -43,313 331,026 1,166,122 -120,528
-5,231,903 -5,353,232 -5,217,032 -3,922,802 -5,713,821
18,829,903 20,654,783 21,152,398 14,650,163 21,443,042
173,943 -17,995
-1,259,738 1,057,365
251,947 -211,473
-833,848 827,897
17,996,055 21,482,680
18,203,753 19,871,873 20,334,968 13,806,565 20,639,683

626,181 782,910 817,430 843,598 803,359
18,829,934 20,654,783 21,152,398 14,650,163 21,443,042
17,369,905 20,699,770 19,658,155 39,484,138 22,491,109

626,181 782,910 788,674 860,910 829,926
17,996,086 21,482,680 20,446,829 40,345,048 23,321,035
780.16 851.66 871.5 591.71 442.28

780.16 851.66 871.5 591.71 442.28
Additional Funds Needed ( AFN )

Most recent year's sales =
Forecasted growth rate in sales =
Next year's sales : S0 x ( 1 + g ) =
Change in sales = S1 - S0 = ΔS =
Most recent year's operating assets =
Required assets per dollar of sales =
Most recent year's spontaneous liabilities i.e., payables + accruals =
Spontaneous liabilities per dollar of sales =
Most recent profit margin = net income / sales =
most recent year's dividends / net income = % of income paid out =
Required Increase in - Increase in Spon. Liab - Addition in Retained

(A0*/S0)ΔS - (L0*/S0)ΔS - S1 x M x ( 1 - POR )
(A0*/S0)(gS0) - (L0*/S0)(gS0) - ( 1+g )S0 x M X ( 1-POR )
(J88/J84)*(J87) - (J90/J84)*(J87) - J86*J92*(1-J93)
987,187 - 565,791 - -27969449.9339789
AS ANAK
LIDASIAN
TANGGAL
42,361,700
64,895,479
-22,533,779
2015
Pos yang tidak akan direklasifikasi ke laba rugi
Keuntungan revaluasi aset tetap

Keuntungan aktuarial program imbalan pasti 339,679
Pajak penghasilan terkait pos yang tidak akan direklasifikasi ke laba rugi -65,960
273,719
Pos-pos yang akan direklasifikasi ke laba rugi

Penyesuaian akibat penjabaran laporan keuangan dalam mata uang asing 39,182
Perubahan nilai wajar aset keuangan dalam kelompok tersedia untuk dijual -1,268,960
Pajak penghasilan terkait pos-pos yang akan direklasifikasi ke laba rugi 250,472
-979,306
Penghasilan komprehensif lain tahun berjalan - setelah pajak penghasilan -705,587

TOTAL PENGHASILAN KOMPREHENSIF TAHUN BERJALAN 20,446,811
78,951,868
20% Growth
94,688,779 Growth rate
15,736,911
4,952,703
6%
2,838,567
4%
27%
2.0875805308
2016 2017
25140558 526,108
-288,896 -641,569
57,776 125,139
24909438 9,678
-40,722 -32,750
945,231 2,364,089
-16,826
-119,062 -446,198
785,447 1,868,315
25694885 1,877,993
40345048 23,321,035
2016 99,459,110 66,173,264 2014 57,328,606 2013 50,288,213
0 0.50301 0.15428001 0.140001
0.1993228 20%
PT BANK MANDIRI (PERSERO) Tbk. DAN ENT
LAPORAN Posisi Keuangan KONSOLIDA
Tanggal 31 Desember
ASET
ASET LANCAR
Kas
Giro Pada Bank Indonesia
Giro Pada Bank Lain - Bersih
Penempatan Pada BI dan Bank Lain - Bersih
Efek-Efek - Bersih
Tagihan Lainnya - Transaksi Perdagangan - Bersih
Tagihan Atas Efek-Efek Yang Dibeli Dengan Janji Dijual Kembali - Bersih
Tagihan Derivatif - Bersih
Tagihan Akseptasi - Bersih
Kredit Yang Diberikan Dan Piutang/Pembiayaan Syariah - Bersih
Piutang Pembiayaan Konsumen - Bersih
Biaya Dibayar Dimuka
Pajak Dibayar Dimuka
Jumlah Aset Lancar
INVESTASI JANGKA PANJANG

Obligasi Pemerintah
Investasi Bersih Dalam Sewa Pembiayaan - Bersih

Penyertaan Saham - Bersih
Total Investasi Jangka Panjang
ASET LAIN - LAIN

Aset Tetap - Bersih
Aset Tidak Berwujud - Bersih
Aset Lain-Lain - Bersih
Aset Pajak Tangguhan
Total Aset Lain - lain
Total Aset
LIABILITAS DAN EKUITAS

LIABILITAS
LIABILITAS (LANCAR) JANGKA PENDEK
Liabilitas Segara
Simpanan Nasabah
Liabilitas Kepada Pemegang Polis Unit-Link
Liabilitas Atas Efek-Efek Yang Dijual Dengan Janji Dibeli Kembali
Liabilitas Derivatif
Liabilitas Akseptasi
Beban Yang Masih Harus Dibayar
Utang Pajak
Liabilitas Imbalan Kerja
Provisi
Pinjaman Yang Diterima
Estimasi kerugian atas komitmen dan kontijensi
Total Liabilitas Jangka Pendek
LIABILITAS JANGKA PANJANG
Efek-Efek Yang Diterbitkan
Pinjaman Subordinasi
Liabilitas lain - lain
Total Liabilitas Jangka Panjang
Total Liabilitas
Dana Syirkah Temporer
Simpanan Nasabah
Jumlah Dana Syirkah Temporer
Keuntungan/(Kerugian) Bersih Yang Belum Direalisasikan Dari Kenaikan/(Penurunan) Nilai Wajar
EKUITAS
Efek-efek Dan Obligasi Pemerintah Yang Tersedia Untuk Dijual SetelahDikurangi Pajak
Modal Saham Tangguhan
Tambahan Modal Disetor/Agio Saham
Selisih Kurs Karena Penjabaran Laporan Keuangan Dalam Mata Uang Asing
Bagian efektif lindung nilai arus kas

Selisih Bersih Revaluasi Aset Tetap
Selisih Transaksi Dengan Pihak Non Pengendali
Saldo Laba
Kepentingan Non Pengendali Atas Aset Bersih Entitas Anak Yang Dikonsolidasi
Jumlah Ekuitas
Jumlah Liabilitas, Dana Syirkah Temporer dan Ekuitas
NDIRI (PERSERO) Tbk. DAN ENTITAS ANAK
AN Posisi Keuangan KONSOLIDASIAN
ntuk Tahun yang Berakhir pada
Tanggal 31 Desember
2013 2014 2015 2016 2017
19,051,934 20,704,563 25,109,124 22,906,775 24,268,563

43,904,419 50,598,840 56,314,316 52,484,974 50,188,118
14,036,484 8,983,467 10,152,214 10,360,165 12,329,947
45,113,834 61,117,605 37,320,863 73,616,927 74,600,803
26,802,548 40,465,158 43,641,564 56,551,643 59,609,972
7,523,929 11,651,696 13,184,766 14,167,271 24,090,128
3,737,613 19,744,804 676,900 5,054,488 2,629,315
170,878 71,044 700,884 239,260 446,459
10,114,889 13,007,132 11,224,243 14,548,203 12,290,260
450,634,798 505,394,870 564,393,595 616,706,193 678,292,520
4,511,545 5,893,135 7,907,449 11,531,838 14,782,332
1,489,010 1,837,500 2,299,852 2,751,081 2,784,234
1,126,549 2,591,982 4,817,396 2,612,707 2,688,049
628,218,430 742,061,796 777,743,166 883,531,525 959,000,700
82,227,428 86,153,906 103,869,361 98,933,278 103,411,188
612,154 766,524 598,359 829,945 2,356,890
4,667 55,490 48,394 245,136 333,312
82,844,249 86,975,920 104,516,114 100,008,359 106,101,390
7,645,598 8,928,856 9,761,688 35,663,290 36,618,753

1,160,255 1,644,583 1,915,192 1,955,496 2,401,467
8,908,732 11,239,398 11,292,727 11,557,238 15,014,218
4,322,498 4,189,120 4,834,522 5,990,101 5,564,319
22,037,083 26,001,957 27,804,129 55,166,125 59,598,757
733,099,762 855,039,673 910,063,409 1,038,706,009 1,124,700,847
2013 2014 2015 2016 2017

762,130 1,156,366 1,156,327 1,569,911 2,838,567
508,996,256 583,448,911 622,332,331 702,060,230 749,583,982
12,443,313 17,531,845 12,636,237 9,339,196 8,349,507
12,002,997 17,343,799 17,019,049 19,602,950 23,254,035
4,656,149 6,112,589 4,863,171 3,353,042 3,592,883
226,168 157,055 299,079 502,469 276,243
10,178,370 13,114,059 11,331,273 14,789,244 12,544,494

3,326,475 3,880,273 3,490,801 3,743,496 4,307,193
2,126,864 1,875,141 2,131,616 1,258,792 1,009,832
4,585,069 5,181,160 5,777,077 6,763,068 8,277,388
822,582 667,644 676,170 435,880 375,770
15,997,188 24,227,104 33,764,671 35,882,757 35,703,679
200,501 196,793 395,610 207,401 381,771
576,324,062 674,892,739 715,873,412 799,508,436 850,495,344
1,779,597 2,009,625 2,398,178 9,025,994 16,843,595

4,465,615 3,746,574 3,737,703 215,432 191,501
14,166,214 16,370,686 14,189,412 15,810,036 20,496,377
20,411,426 22,126,885 20,325,293 25,051,462 37,531,473
596,735,488 697,019,624 736,198,705 824,559,898 888,026,817
2013 2014 2015 2016 2017
47,345,405 52,933,182 54,054,930 60,440,474 66,222,609
228,273 242,305 317,933 335,914 445,289
47,573,678 53,175,487 54,372,863 60,776,388 66,667,898
2013 2014 2015 2016 2017
11,666,667 11,666,667 11,666,667 11,666,667 11,666,667
17,316,192 17,316,192 17,316,192 17,316,192 17,316,192
221,620 203,625 242,807 202,363 168,412
-1,417,240 -571,348 -1,565,019 -759,364 1,117,864
- - - - -6,436
- - - 25,140,523 25,666,631
- - -92,751 -92,751 -106,001
59,631,998 74,042,745 89,224,718 96,930,793 111,357,522
1,371,359 2,186,681 2,421,551 2,915,785 3,287,289
88,790,596 104,844,562 119,491,841 153,369,723 170,006,132

733,099,762 855,039,673 910,063,409 1,038,706,009 1,124,700,847
PT BANK MANDIRI (PER
LAPORAN ARUS
Untuk Tahun
Tanggal




Aset lain-lain

Bank Konvensional
Giro
Tabungan
Deposito berjangka
Liabilitas segera
Utang pajak lainnya


Pembayaran dividen


Giro pada bank lain

PT BANK MANDIRI (PERSERO) Tbk.
LAPORAN ARUS KAS KONS
Untuk Tahun yang Berak
Tanggal 31 Desemb




Aset lain-lain

Bank Konvensional
Tabungan
Deposito berjangka
Liabilitas segera
Utang pajak lainnya


Pembayaran dividen


Giro pada bank lain

BANK MANDIRI (PERSERO) Tbk. DAN ENTITAS ANAK
LAPORAN ARUS KAS KONSOLIDASIAN
Tanggal 31 Desember
2013 2014 2015
48,006,235 59,752,177 68,561,085

11,330,101 11,812,545 13,151,880
-16,258,800 -23,121,999 -26,303,441
26,689,634 26,624,838 31,695,656
-26,364,288 -26,249,130 -32,543,993
-1,684,990 1,876,047 568,115
1,126,887 1,360,996 2,695,638
-2,327,867 -2,912,216 -3,884,426
-8,659,586 -10,251,940 -11,503,062
-8,935,985 -10,266,219 -11,309,466
523,356 29,909 30,458
-5,911,725 -5,716,191 -5,299,131
17,532,972 22,938,817 25,859,313
-975,057 -2,321,185 -74,344

-743,827 -11,765,022 5,930,922
-2,273,965 -4,289,584 -1,674,546
-85,610,294 -59,909,017 -71,254,097

10,777,622 -16,049,132 19,109,845
-833,329 -1,590,704 -2,305,938

-291,229 -165,177 170,521
-1,098,375 -1,465,433 -2,225,414
-53,253 -348,490 -462,352
172,342 -1,583,311 627,894
3,002,556 2,607,206 3,430,132
10,098,878 4,832,745 44,702,559

32,276,298 15,682,853 17,133,981
21,255,943 57,414,439 -28,721,091
953,750 1,611,150 872,363
-932,101 394,236 -39
968,758 5,340,802 -324,750
-211,620 244,614 -306,828
1,523,844 3,910,075 -1,484,053
14,717 -4,342 -2,031

2,210,646 509,134 1,852,989
4,968,241 5,097,017 -653,852
12,733,517 21,091,691 10,201,184
-6,410,209 -965,192 -9,640,061

-4,642,580 -3,169,133 -17,604,588
119,287 6,661 4,202
-1,584,388 -2,250,724 -1,135,677
-439,775 -705,614 -573,199
264,000 - -
132,000 - -
-12,561,665 -7,084,002 -28,949,323
98,830 -36,365 -675,283

233,721 230,028 388,553
6,688,977 8,026,295 7,291,307
-672,335 -719,041 -8,871
4,651,220 1,456,440 -1,249,418
-4,651,220 -5,461,126 -4,967,968
6,349,193 3,496,231 778,320
6,525,974 17,503,920 -17,969,549

2,993,395 277,305 4,832,573
111,503,789 121,023,158 138,804,383
121,023,158 138,804,383 125,667,407
43,904,419 50,598,840 56,314,316

14,048,075 8,986,831 10,155,626
44,018,730 57,690,864 33,791,391

- 823,285 296,950
121,023,158 138,804,383 125,667,407
2016 2017
73,772,423 76,136,214
14,092,433 14,948,209
-24,636,216 -26,999,765
47,558,159 53,656,513
-46,378,950 -53,707,496
3,151,361 2,392,249
1,879,255 2,417,018
-3,707,546 -4,158,256
-12,860,915 -13,855,845
-12,200,718 -13,573,478
-39,882 -57,665
-5,943,662 -5,968,499
34,685,742 31,229,199
1,105,862 -624,042
-3,700,426 -2,048,245
-1,011,605 -9,515,359
-75,638,571 -76,638,704
-4,377,588 2,425,173
-4,079,414 -3,961,788
-231,782 -1,533,591
2,204,689 -59,783
-451,229 -33,153
-42,069 -3,240,312
3,701,934 4,565,412
15,377,874 15,766,883
28,225,627 31,594,358
35,310,768 -553,881
-2,483,411 -273,297
413,584 1,268,656
2,583,901 3,651,085
-7,543 110,687
3,531,241 6,931,895
57,423 456,360
2,415,839 3,101,195
3,930,263 2,333,955
41,521,109 4,952,703
-8,924,594 -1,083,092
5,320,566 -1,540,676
10,935 51,269
-2,149,547 -1,786,436
-420,141 -889,925
- -
- -
-6,162,781 -5,248,860
-546,129 -497,153
6,627,816 7,827,253
3,076,681 -630,913
-3,522,271 -23,931
-1,510,129 239,841
-6,100,490 -6,212,954
-1,974,522 702,143
33,383,816 406,986
-1,491,116 808,703
125,667,407 157,560,107
157,560,107 158,775,796
52,484,974 50,188,118
10,363,214 12,333,389
71,209,865 71,536,104
595,279 449,622
157,560,107 158,775,796

Capital Budgeting - BMRI - Natania - 18.G1.0225

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Capital Budgeting - BMRI - Natania - 18.G1.0225

Diunggah oleh

Hak Cipta:

Format Tersedia

BMRI

Nama Ketua Nama Ang

INVESTASI JANGKA PANJANG

ASET LAIN - LAIN

LIABILITAS DAN EKUITAS

Keuntungan/(Kerugian) Bersih Yang Belum Direalisasikan Dari Kenaikan/(Penurunan) Nilai Wajar

Bagian efektif lindung nilai arus kas

Selisih Transaksi Dengan Pihak Non Pengendali

2013 2014 2015 2016

19,051,934 20,704,563 25,109,124 22,906,775

82,227,428 86,153,906 103,869,361 98,933,278

7,645,598 8,928,856 9,761,688 35,663,290

733099762 855039673 910063409 1038706009

2013 2014 2015 2016

762,130 1,156,366 1,156,327 1,569,911

1,779,597 2,009,625 2,398,178 9,025,994

-1,417,240 -571,348 -1,565,019 -759,364

1,371,359 2,186,681 2,421,551 2,915,785

88,790,596 104,844,562 119,491,841 153,369,723

Pendapatan Premi 6,446,149 9,364,287

PENDAPATAN BUNGA, SYARIAH DAN PREMI - BERSIH 36,435,424 41,812,994

Pendapatan Operasional Lainnya

Pembentukan Cadangan Kerugian Penurunan Nilai -4,871,442 -5,718,130

LABA OPERASIONAL 23,551,711 25,978,106

Pendapatan Bukan Operasional - Bersih 510,126 29,909

LABA SEBELUM BEBAN PAJAK DAN KEPENTINGAN NONPENGENDALI 24,061,837 26,008,015

Pendapatan Komprehensif Lain

TOTAL LABA KOMPREHENSIF 17,996,055 21,482,680

Laba Bersih yang Diatribusikan kepada:

Laba Komprehensif yang Diatribusikan kepada: 17,369,905 20,699,770

LABA PER SAHAM

2015 2016 2017

71,570,127 76,709,888 79,501,530

9,546,893 9,377,741 10,325,187

48,500,173 54,477,800 54,792,234

10,014,810 11,440,002 12,483,134

-11,664,837 -24,943,938 -15,646,385

-12,376,655 -13,618,745 -14,858,642

26,338,972 18,612,727 27,169,751

30,458 -39,762 -12,888

26,369,430 18,572,965 27,156,863

-5,548,058 -5,088,924 -5,593,293

19,658,155 39,484,138 22,491,109

871.5 591.71 442.28

Pos-pos yang akan direklasifikasi ke laba rugi

Penghasilan komprehensif lain tahun berjalan - setelah pajak penghasilan -705,587

ARUS KAS DARI AKTIVITAS OPERASIONAL

Penurunan/(kenaikan) atas aset operasional:

Kenaikan/(penurunan) atas liabilitas operasional dan dana syirkah temporer:

ARUS KAS DARI AKTIVITAS INVESTASI

ARUS KAS DARI AKTIVITAS PENDANAAN

KENAIKAN BERSIH KAS DAN SETARA KAS

Kas dan setara kas pada akhir tahun terdiri dari:

ARUS KAS DARI AKTIVITAS OPERASIONAL

Penurunan/(kenaikan) atas aset operasional:

Kenaikan/(penurunan) atas liabilitas operasional dan dana syirkah temporer:

ARUS KAS DARI AKTIVITAS INVESTASI

ARUS KAS DARI AKTIVITAS PENDANAAN

KENAIKAN BERSIH KAS DAN SETARA KAS

Kas dan setara kas pada akhir tahun terdiri dari:

Giro pada Bank Indonesia

2013 2014 2015

48,006,235 59,752,177 68,561,085

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