P T Bank Pan Indonesia Tbk : Financial Report PT Bank Panin Tbk and Subsidiaries as of March 31, 2023 and 2022 (Unaudited)

CONSOLIDATED FINANCIAL STATEMENTS

PT Bank Panin, Tbk. & Subsidiaries

STATEMENTS OF FINANCIAL POSITION

AS OF MARCH 31, 2023 AND DECEMBER 31, 2022

(In Millions Rupiah)

NO.	DESCRIPTION	INDIVIDUAL	CONSOLIDATED
MAR 31, 2023 DEC 31, 2022 MAR 31, 2023 DEC 31, 2022
	ASSETS
1.	Cash	1,617,022	1,690,275	1,633,453	1,704,409
2.	Placement to Bank Indonesia	9,257,704	8,251,847	11,313,587	9,442,469
3.	Interbank placement	7,062,676	6,591,391	7,082,189	6,206,592
4.	Spot and derivatives / forward claims	60,771	29,385	60,771	29,385
5.	Securities held	29,674,928	28,359,038	32,141,315	30,861,208
6.	Securites sold under repurchase agreement (repo)	-	2,537,263	-	2,537,263
7.	Claims on securites bought under reverse repo	1,514,177	10,642,145	1,514,177	10,642,145
8.	Acceptance claims	2,635,550	2,132,501	2,635,550	2,132,501
9.	Loans	120,773,210	120,287,068	138,666,373	136,987,594
10.	Sharia financing	-	-	-	-
11.	Equity investment	3,659,563	3,652,581	810,923	791,409
12.	Other financial assets	1,125,866	1,084,457	1,596,758	1,472,661

13. Impairment on financial assets -/-

	a. Securities held	(35)	(53)	(35)	(53)
	b. Loans and sharia financing	(6,898,959)	(6,364,830)	(7,390,836)	(6,801,865)
	c. Others	(13,060)	(14,175)	(21,518)	(23,902)
14.	Intangible Assets	473,250	462,606	542,528	525,500
	Accumulated amortisation on intangible assets -/-	(281,444)	(272,702)	(322,357)	(312,181)
15.	Fixed assets and equipment	10,028,047	9,980,063	10,500,160	10,459,430
	Accumulated depreciation on fixed assets and
	equipments -/-	(303,219)	(224,950)	(365,018)	(282,494)

16. Non productive assets

	a. Abandoned properties	743,646	746,327	743,646	746,327
	b. Foreclosed assets	1,605,254	1,642,935	2,450,034	2,426,296
	c. Suspense accounts	-	-	-	-
	d. Interbranch assets *	-	-	-	-
17.	Other assets	2,532,102	2,436,280	3,020,098	2,887,187
	TOTAL ASSETS	185,267,049	193,649,452	206,611,798	212,431,881
	LIABILITIES AND EQUITIES
	LIABILITIES
1.	Current account	11,723,267	12,298,265	12,004,845	12,548,845
2.	Saving account	51,177,173	49,458,405	52,764,343	50,960,859
3.	Deposit	67,467,692	69,452,371	77,199,794	78,334,735
4.	Electronic money	282	170	282	170
5.	Liabilities to Bank Indonesia	-	-	1,380,978	435,531
6.	Interbank liabilities	45,833	2,542,091	893,862	3,258,814
7.	Spot and derivatives / forward liabilities	60,885	29,561	60,885	29,561

8. Liabilities on securites sold under repurchase agreement

	(Repo)	-	2,408,299	-	2,408,299
9.	Acceptance Liabilities	2,639,480	2,137,042	2,639,480	2,137,042
10.	Issued securities	3,896,324	7,794,490	3,896,324	7,794,490
11.	Loans received	-	-	2,066,009	1,708,664
12.	Margin deposit	183,240	220,949	183,379	221,084
13.	Interbranch liabilities *	-	-	-	-
14.	Other liabilities	1,574,147	1,343,803	2,119,984	1,877,693
15.	Minority interest	-	-	3,376,615	3,315,198

EQUITIES

16. Paid in capital

a.	Capital	9,600,000	9,600,000	9,600,000	9,600,000
b.	Unpaid capital -/-	(7,191,235)	(7,191,235)	(7,191,235)	(7,191,235)
c.	Treasury stock -/-	(610)	(610)	(610)	(610)

17. Additional paid in capital

	a. Agio	3,440,707	3,440,707	3,440,707	3,440,707
	b. Disagio -/-	-	-	-	-
	c. Fund for paid-up capital	-	-	-	-
	d. Other	-	-	(269,072)	(269,072)
18.	Other comprehensive gain (loss)
	a. Gain	8,239,730	8,283,843	8,316,595	8,361,272
	b. Loss -/-	(570,169)	(663,938)	(664,288)	(739,893)

19. Reserves

	a. General reserves	29,703,302	29,699,884	30,102,898	30,075,890
	b. Appropriated reserves	140,000	140,000	140,000	140,000
20.	Gain/loss
	a. Previous years	2,655,355	481,631	3,960,501	1,423,792
	b. Current year	481,646	2,655,355	589,522	3,041,676
	c. Dividends paid	-	(481,631)	-	(481,631)
	TOTAL EQUITIES ATTRIBUTABLE TO OWNERS	46,498,726	45,964,006	48,025,018	47,400,896
	TOTAL LIABILITIES AND EQUITIES	185,267,049	193,649,452	206,611,798	212,431,881

* stated at net carrying value

STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED MARCH 31, 2023 AND 2022

		(In Millions Rupiah)
NO.	DESCRIPTION		INDIVIDUAL	CONSOLIDATED
	MAR 31, 2023 MAR 31, 2022 MAR 31, 2023 MAR 31, 2022

OPERATIONAL INCOME AND EXPENSES

1. Interest income and expenses

1.	Interest income	3,062,250	2,950,976	3,652,673	3,422,008
2.	Interest expenses	1,092,239	795,125	1,284,884	907,175
	Net interest income (expenses)	1,970,011	2,155,851	2,367,789	2,514,833

STATEMENTS OF EARNING ASSET QUALITY AND OTHER INFORMATION

AS OF MARCH 31, 2023 AND 2022

(In Millions Rupiah)

NO.

DESCRIPTION

INDIVIDUAL

MAR 31, 2023

MAR 31, 2022

C

SM

S

D

L

TOTAL

C

SM

S

D

L

TOTAL

1. PIHAK TERKAIT

1. Interbank placement

	a. Rupiah	-	-	-	-	-	-	3,020,000	-	-	-	-	3,020,000
	b. Foreign currency	353,036	-	-	-	-	353,036	157,457	-	-	-	-	157,457
2.	Spot and derivatives / forward claims
	a. Rupiah	-	-	-	-	-	-	-	-	-	-	-	-
	b. Foreign currency	-	-	-	-	-	-	-	-	-	-	-	-

3. Securities held

a.

Rupiah

-

-

-

-

-

-

-

-

-

-

-

-

b.

Foreign currency

-

-

-

-

-

-

-

-

-

-

-

-

4. Securities sold under repurchase agreement (repo)

a.

Rupiah

-

-

-

-

-

-

-

-

-

-

-

-

b.

Foreign currency

-

-

-

-

-

-

-

-

-

-

-

-

5. Claims on securities bought under reverse repo

	a. Rupiah	-	-	-	-	-	-	-	-	-	-	-	-
	b. Foreign currency	-	-	-	-	-	-	-	-	-	-	-	-
6.	Acceptance claims	-	-	-	-	-	-	-	-	-	-	-	-

7. Loans and financing provided

a. Micro, small and medium enterprises (UMKM)

	i.	Rupiah	187,575	-	-	-	21,133	208,708	-	-	-	-	21,133	21,133
	ii.	Foreign currency	-	-	-	-	-	-	-	-	-	-	-	-
	b. Non micro, small and medium enterprises (UMKM)
	i.	Rupiah	1,696,135	-	-	-	239,386	1,935,521	1,414,924	-	-	-	239,386	1,654,310
	ii.	Foreign currency	-	-	-	-	-	-	-	-	-	-	-	-
	c. Restructured loans
	i.	Rupiah	185,623	-	-	-	21,133	206,756	202,990	-	-	-	21,133	224,123
	ii.	Foreign currency	-	-	-	-	-	-	-	-	-	-	-	-
8.	Equity investment	3,511,955	-	-	-	-	3,511,955	3,511,958	-	-	-	-	3,511,958
9.	Other receivables	-	-	-	-	-	-	-	-	-	-	-	-

10. Commitments and contingencies

	a. Rupiah	1,111,904	-	-	-	-	1,111,904	1,862,491	-	-	-	-	1,862,491
	b. Foreign currency	-	-	-	-	-	-	-	-	-	-	-	-
II.	NON-RELATED PARTIES
1.	Interbank placement
	a. Rupiah	2,428,676	-	-	-	-	2,428,676	8,016	-	-	-	-	8,016
	b. Foreign currency	4,280,964	-	-	-	-	4,280,964	5,191,178	-	-	-	-	5,191,178

2. Spot and derivatives / forward claims

	a. Rupiah	60,400	-	-	-	-	60,400	6,546	-	-	-	-	6,546
	b. Foreign currency	371	-	-	-	-	371	332	-	-	-	-	332
3.	Securities held
	a. Rupiah	28,079,244	-	-	-	81,841	28,161,085	26,078,575	-	-	-	191,138	26,269,713
	b. Foreign currency	1,513,843	-	-	-	-	1,513,843	2,162,106	-	-	-	-	2,162,106
4.	Securities sold under repurchase agreement (repo)
	a. Rupiah	-	-	-	-	-	-	4,509,767	-	-	-	-	4,509,767
	b. Foreign currency	-	-	-	-	-	-	-	-	-	-	-	-
5.	Claims on securities bought under reverse repo
	a. Rupiah	1,514,177	-	-	-	-	1,514,177	14,510,811	-	-	-	-	14,510,811
	b. Foreign currency	-	-	-	-	-	-	-	-	-	-	-	-
6.	Acceptance claims	2,635,550	-	-	-	-	2,635,550	2,135,650	-	-	-	-	2,135,650

7. Loans and financing provided

	a. Micro, small and medium enterprises (UMKM)
	i.	Rupiah	19,705,489	1,150,899	147,698	125,515	463,340	21,592,941	21,023,011	900,969	39,839	98,248	498,211	22,560,278
	ii. Foreign currency	51,725	12,527	-	-	-	64,252	69,511	-	-	-	-	69,511
	b. Non micro, small and medium enterprises (UMKM)
	i.	Rupiah	81,132,770	6,950,034	197,828	188,360	3,038,854	91,507,846	71,789,020	4,136,806	182,809	654,577	1,897,882	78,661,094
	ii. Foreign currency	5,044,764	419,178	-	-	-	5,463,942	6,377,451	373,777	-	-	-	6,751,228
	c. Restructured loans
	i.	Rupiah	12,667,693	5,486,424	304,658	466,034	2,437,572	21,362,381	22,947,242	2,608,894	187,958	717,716	1,915,858	28,377,668
	ii. Foreign currency	1,846,407	431,705	-	-	-	2,278,112	1,154,729	373,777	-	-	-	1,528,506
8.	Equity investment	147,608	-	-	-	-	147,608	151,487	-	-	-	-	151,487
9.	Other receivables	-	-	-	-	-	-	-	-	-	-	-	-

10. Commitments and contingencies

a.	Rupiah	32,723,671	45,316	1,000	-	-	32,769,987	33,265,436	100,026	-	-	-	33,365,462
b.	Foreign currency	5,471,906	-	-	-	-	5,471,906	2,730,542	-	-	-	-	2,730,542

1. OTHER INFORMATIONS

1. Assets pledged as collateral :

	a. To Bank Indonesia						-					-
	b. To other parties						-					-
2.	Foreclosed assets						1,605,254					1,594,248
			IMPAIRMENT LOSS ALLOWANCE
			AS OF MARCH 31, 2023 AND 2022
				(In Millions Rupiah)
				MAR 31, 2023							MAR 31, 2022
No.	Description	Allowance for Impairment	Required Allowance for Possible		Allowance for Impairment	Required Allowance for Possible
Losses on Earning Assets		Losses on Earning Assets
		Stage 1	Stage 2	Stage 3	General		Specific		Stage 1	Stage 2	Stage 3	General	Specific
1.	Interbank placement	1,294	-	-	70,627		-		1,017	-	-	83,767	-
2.	Spot and derivatives / forward claims	-	-	-	608		-		-	-	-	69	-
3.	Securities held	73,707	-	-	10,127		81,841		272	175,412	-	14,651	191,138
4.	Securities sold under repurchase agreement (repo)	-	-	-	-		-		-	-	-	-	-
5.	Claims on securities bought under reverse repo	-	-	-	-		-		-	-	-	-	-
6.	Acceptances claims	7,058	-	-	21,893		-		3,234	-	-	16,795	-
7.	Loans and financing provided	1,603,165	246,993	5,048,801	1,046,327		1,684,337		1,646,943	847,582	2,840,808	706,005	1,659,851
8.	Equity investment	-	-	-	36,596		-		-	-	-	36,634	-
9.	Other receivables	-	-	-	-		-		-	-	-	-	-
10.	Commitment and contingencies	66,817	766	440	15,719		2,416		54,301	824	61	15,652	5,001

STATEMENTS OF CASH FLOWS

FOR THE THREE MONTHS ENDED MARCH 31, 2023 AND 2022

(In Millions Rupiah)

	DESCRIPTION			CONSOLIDATED
				MAR 31, 2023	MAR 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Interest, loan commissions and fees received			3,561,714	3,299,603
Interest, prizes, fund commissions and fees paid			(1,342,175)	(1,068,200)
Other operating revenues received				620,937	446,344
Other operating expenses paid				(1,163,224)	(1,459,259)
Gain on foreign exchange transactions - net			18,303	25,285
Non-operating income received - net			19,996	20,940
Tax expense paid				(99,046)	(48,780)
Operating cash flows before changes in operating assets and liabilities			1,616,505	1,215,933
Decrease (Increase) in operating assets
Placement with Bank Indonesia and other banks			(149,945)	-
Securities (being measured at fair value through profit or loss)			(228,500)	(2,306,817)
Loans				(1,191,231)	138,313
Securities purchased with agreements to resell			9,127,968	1,449,288
Finance lease receivables				(103,556)	(15,100)
Consumer financing receivables			(525,446)	(163,932)
Sales and lease-back receivables			(1,129)	-
Other assets				(62,454)	(1,105,319)
Increase (Decrease) in operating liabilities
Liabilities payable immediately				120,965	198,286
Deposits				124,543	4,074,042
Deposits from other banks				(2,364,953)	(1,294,079)
Acceptances payable				(611)	3,251
Securities sold with agreements to repurchase			(2,408,299)	(2,739,392)
Other liabilities				(42,405)	174,850
Net cash Provided by (Used in) Operating Activities			3,911,452	(370,676)
CASH FLOWS FROM INVESTING ACTIVITIES
Securities (other than being measured at fair value through profit or loss)			1,667,991	808,553
Proceeds from sale of premises and equipment			810	16,570
Acquisition of premises and equipment			(19,814)	(103,546)
Acquisition of intangible assets				(50,061)	(36,839)
Net cash Provided by Investing Activities			1,598,926	684,738
CASH FLOWS FROM FINANCING ACTIVITIES
Redemption of issued bonds				(3,900,000)	-
Payment of lease obligations				(27,847)	(21,056)
Borrowings repaid by subsidiary				(763,557)	-
Borrowings received by subsidiaries			2,065,978	605,787
Net cash Provided by (Used in) Financing Activities			(2,625,426)	584,731
NET INCREASE IN CASH AND CASH EQUIVALENTS			2,884,952	898,793
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD			17,353,469	13,766,259
Effect of foreign exchange rate changes			(359,137)	50,012
CASH AND CASH EQUIVALENTS AT END OF PERIOD			19,879,284	14,715,064
Cash and cash equivalents consist of:
Cash on hand				1,633,453	1,446,000
Demand deposits with Bank Indonesia			6,897,460	4,490,043
Demand deposits with other banks			1,247,938	1,525,115
Placements with Bank Indonesia and other banks			10,100,433	7,253,906
Total cash and cash equivalents				19,879,284	14,715,064
STATEMENTS OF CALCULATION OF CAPITAL ADEQUACY RATIO COMMERCIAL BANK
	AS OF MARCH 31, 2023 AND 2022
	(In Millions Rupiah)
COMPONENTS OF CAPITAL	MAR 31, 2023	MAR 31, 2022
INDIVIDUAL	CONSOLIDATED	INDIVIDUAL CONSOLIDATED
I. Core Capital (Tier 1)		40,717,362	45,942,893	39,070,077	43,965,862
1 Core Capital/Common Equity Tier 1 (CET 1)	40,717,362	45,942,893	39,070,077	43,965,862
1.1 Paid-in Capital (net of Treasury Stock)	2,408,155	2,408,155	2,408,155	2,408,155
1.2 Capital Additional Reserves	42,807,179	44,455,112	41,004,792	42,285,505
1.2.1 Additional Tier 1		44,234,845	46,127,803	41,956,313	43,399,867
1.2.1.1 Other comprehensive income	7,953,835	8,034,175	8,193,806	8,270,699
1.2.1.1.1	Surplus of the financial statement translation	-	-	-	-
1.2.1.1.2	Potential benefits of the changes in financial
	assets measured at fair value through other
	comprehensive income	-	-	-	-
1.2.1.1.3 Surplus of fixed assets revaluation	7,953,835	8,034,175	8,193,806	8,270,699
1.2.1.2 Other capital additional reserves (other disclosed
reserves)		36,281,010	38,093,628	33,762,507	35,129,168
1.2.1.2.1 Agio	3,440,707	3,440,707	3,440,707	3,440,707
1.2.1.2.2 General reserves	29,703,302	30,102,898	27,148,016	27,522,251
1.2.1.2.3 Previous year profit	2,655,355	3,960,501	2,568,245	3,512,053
1.2.1.2.4 Current year profit	481,646	589,522	605,539	654,157
1.2.1.2.5	Funds for paid-in capital	-	-	-	-
1.2.1.2.6	Others	-	-	-	-
1.2.2 Deduction Tier 1		(1,427,666)	(1,672,691)	(951,521)	(1,114,362)
1.2.2.1 Other comprehensive income	(739,690)	(841,198)	(260,899)	(295,802)
1.2.2.1.1	Defisit of the financial statement translation	-	-	-	-
1.2.2.1.2	Potential losses from the changes in financial
	assets measured at fair value through other
	comprehensive income	(739,690)	(841,198)	(260,899)	(295,802)
1.2.2.2 Other capital additional reserves (other disclosed
reserves)		(687,976)	(831,493)	(690,622)	(818,560)
1.2.2.2.1	Disagio	-	-	-	-
1.2.2.2.2 Previous year loss	-	-	-	-
1.2.2.2.3	Current year loss	-	-	-	-
1.2.2.2.4 Less difference between Provision for Asset
	Quality Assessment and the allowance for
	impairment losses on productive assets	-	-	-	-
1.2.2.2.5 Less difference of fair value adjustment of

1. Operational Income and Expenses Other than Interest

1.	Positive (negative) mark to market on financial assets	32,204	(80,597)	32,204	(80,597)
2.	Positive (negative) mark to market on financial liabilities	-	-	-	-
3.	Gain (loss) on sale of financial assets	50,023	122,918	50,915	126,416
4.	Gain (loss) on spot and derivatives / forward (realised)	6,908	10,979	6,908	10,979
5.	Gain (loss) on investment under equity method	-	-	12,815	23,621
6.	Gain (loss) on foreign exchange translation	128	505	128	740
7.	Dividend income	-	-	-	-
8.	Commision/provision/fee and administration income	98,401	83,919	172,494	135,606
9.	Other income	139,487	385,167	219,221	457,813
10.	Provision (Recovery) of financial assets' impairment	599,375	832,302	696,812	1,062,244
11.	Losses on operational risk	1,030	1,088	1,030	1,088
12.	Personnel expenses	486,146	443,329	614,584	540,158
13.	Promotion expenses	6,483	5,612	12,183	11,447
14.	Other expenses	597,760	635,116	705,165	763,541
	Net Operational Income (Expenses) Other than Interest	(1,363,643)	(1,394,556)	(1,535,089)	(1,703,900)
	OPERATIONAL PROFIT (LOSS)	606,368	761,295	832,700	810,933
NON OPERATIONAL INCOME (EXPENSES)
1.	Gain (loss) on sale of fixed assets and equipment	106	11,063	221	11,114
2.	Other non operational income (expenses)	(3,124)	4,086	(4,773)	24,860
	NON OPERATIONAL PROFIT (LOSS)	(3,018)	15,149	(4,552)	35,974
	CURRENT PERIOD PROFIT (LOSS) BEFORE TAX	603,350	776,444	828,148	846,907
	Income taxes
	a. Estimated current period tax -/-	114,273	197,402	163,657	207,482
	b. Deferred tax income (expenses)	(7,431)	26,497	(4,701)	26,785
	NET PROFIT (LOSS)	481,646	605,539	659,790	666,210
	MINORITY INTEREST PROFIT (LOSS)			70,268	12,053
	OTHER COMPREHENSIVE INCOME
	1. Items that will not be reclassified to profit or loss
	a. Gain on fixed asset revaluation	152	3,683	152	3,683
	b. Gain (loss) on defined benefit actuarial program	-	-	-	-
	c. Others	-	-	(284)	73
	2. Items that will be reclassified to profit or loss
	a. Translation adjustment from foreign currency	-	-	-	-
	b. Changes in financial assets of debt instrument
	measured at fair value through other comprehensive
	income	52,922	(433,665)	25,932	(436,336)
	c. Others	-	-	-	-
	OTHER COMPREHENSIVE INCOME OF THE CURRENT
	PERIOD - NET OF APPLICABLE INCOME TAX	53,074	(429,982)	25,800	(432,580)
	CURRENT PERIOD TOTAL COMPREHENSIVE INCOME	534,720	175,557	685,590	233,630
	Profit attributable to:
	EQUITY HOLDERS OF THE PARENT ENTITY	481,646	605,539	589,522	654,157
	NON CONTROLLING INTEREST			70,268	12,053
	CURRENT PERIOD TOTAL PROFIT	481,646	605,539	659,790	666,210
	Total Comprehensive Profit (Loss) Attributable to:
	EQUITY HOLDERS OF THE PARENT ENTITY	534,720	175,557	624,148	222,900
	NON CONTROLLING INTEREST	-	-	61,442	10,730
	TOTAL COMPREHENSIVE PROFIT (LOSS) FOR THE
	CURRENT PERIOD	534,720	175,557	685,590	233,630
	TRANSFER OF PROFIT (LOSS) TO HEAD OFFICE	-	-	-	-
	DIVIDEND	-	-	-	-
	NET EARNINGS (LOSS) PER SHARE	20.00	25.14	24.47	27.16

STATEMENTS OF COMMITMENTS AND CONTINGENCIES

AS OF MARCH 31, 2023 AND DECEMBER 31, 2022

(In Millions Rupiah)

NO.	DESCRIPTION	INDIVIDUAL	CONSOLIDATED
MAR 31, 2023 DEC 31, 2022	31 MAR 2023 31 DES 2022

1. COMMITTED CLAIMS

1.	Unused borrowing / financing	-	-	-	-
2.	Foreign currency positions to be received from spot and
	derivative / forward transactions	4,033,766	4,581,314	4,033,766	4,581,314
3.	Others	-	-	-	-

1. COMMITTED LIABILITIES

1.	Undisbursed loan / financing facilities to debtors
	a. Committed	31,696,339	28,682,195	31,709,239	28,832,885
	b. Uncommitted	5,488,243	7,818,483	6,759,240	9,165,041
2.	Outstanding irrevocable L/C	1,173,833	1,672,645	1,173,833	1,672,645
3.	Foreign currency positions to be submitted for spot and
	derivative / forward transactions	3,985,522	4,452,752	3,985,522	4,452,752
4.	Others	-	-	-	-

1. CONTINGENT CLAIMS

	1.	Received guarantees	-	-	-	-
	2.	Others	1,681,997	1,430,664	1,681,997	1,430,664
IV.	CONTINGENT LIABILITIES
	1.	Issued guarantees	995,382	976,644	1,769,017	1,715,621
	2.	Others	553,315	524,503	553,315	524,503

BANK'S MANAGEMENT

BOARD OF COMMISSIONERS
-	President Commissioner/Independent Commissioner	: Nelson Tampubolon
-	Deputy President Commissioner/Independent Commissioner	: Lintang Nugroho
-	Commissioner	: Chandra Rahardja Gunawan
-	Commissioner	: Johnny
-	Commissioner	: Gregory James Terry
-	Independent Commissioner	: Drs. H. Riyanto
DIRECTORS
-	President Director	: Herwidayatmo
-	Deputy President Director	: Hendrawan Danusaputra
-	Director	: Edy Heryanto
-	Director	: Januar Hardi
-	Director	: Haryono Wongsonegoro
-	Director	: Gunawan Santoso
-	Director	: Ng Kean Yik
-	Director	: Lionto Gunawan
-	Director	: Suwito Tjokrorahardjo
-	Compliance Director	: Antonius Ketut Dwirianto
	SHAREHOLDERS
I.	Ultimate Shareholder : 3)
	Through :
	- PT Panin Financial Tbk.	:	46.04%
	- Votraint No. 1103 Pty Limited	:	38.82%
II. Non Ultimate Shareholder through non Capital Market ( ≥ 5%)	:	Nil
III.	Public (< 5% each)	:	15.14%

FINANCIAL RATIOS CALCULATION

AS OF MARCH 31, 2023 AND 2022

(in %)

MAR 31, 2023 MAR 31, 2022

Performance Ratio

Consolidated

1.	Capital Adequacy Ratio (CAR)	32.91	28.76
2.	Non performing earning assets and non earning assets to total earning assets and non
	earning assets	2.74	2.29
3.	Non performing earning assets to total earning assets	2.70	2.19
4.	Impairment provision on financial assets to total earning assets	4.02	3.17
5.	Gross NPL	3.60	3.15
6.	Net NPL	0.80	0.63
7.	Return on Asset (ROA)	1.45	1.66
8.	Return on Equity (ROE)	5.15	5.95
9.	Net Interest Margin (NIM)	5.11	5.51
10.	Operating Expense to Operating Revenue	79.92	80.20
11.	Cost to Income Ratio (CIR)	46.57	42.24

Individual

1.

Capital Adequacy Ratio (CAR)

33.35

28.52

2. Non performing earning assets and non earning assets to total earning assets and non

	earning assets	2.58	2.21
3.	Non performing earning assets to total earning assets	2.68	2.19
4.	Impairment provision on financial assets to total earning assets	4.20	3.19
5.	Gross NPL	3.66	3.31
6.	Net NPL	0.65	0.55
7.	Return on Asset (ROA)	1.28	1.68
8.	Return on Equity (ROE)	4.75	6.21
9.	Net Interest Margin (NIM)	4.79	5.18
10.	Operating Expense to Operating Revenue	82.11	78.09
11.	Loan to Deposit Ratio (LDR)	92.64	84.45
12.	Cost to Income Ratio (CIR)	47.51	41.91

Compliance

1. a. Percentage violation of Legal Lending Limit

i.	Related parties	-	-
ii.	Non related parties	-	-
b. Percentage of excess of violation of the Legal Lending Limit
i.	Related parties	-	-
ii.	Non related parties	-	-

2. Reserve Requirement

a. Primary reserve requirement - Rupiah

	-	Daily *)	4.93	2.87
	-	Average **)	8.01	4.72
	b. Reserve requirement - Foreign currency (daily) *)	3.92	4.01
3.	Net Open Position	0.24	0.74

*) Realization of Daily Primary Reserves as of March 31, 2023 and 2022 **) Realization of Average Primary Reserves as of March 31, 2023 and 2022

	financial instruments in the Trading Book	-	-	-	-
	1.2.2.2.6 Provision for Asset Quality Assessment
	non productive	(687,976)	(831,493)	(690,622)	(818,560)
	1.2.2.2.7 Others	-	-	-	-
1.3	Non Controlling Interest	-	842,648	-	782,698
1.4	Deduction Core Capital	(4,497,972)	(1,763,022)	(4,342,870)	(1,510,496)
	1.4.1 Deffered tax calculated	(664,047)	(749,924)	(581,569)	(627,879)
	1.4.2 Goodwill	-	-	-	-
	1.4.3 Other intangible assets	(191,806)	(220,171)	(115,299)	(132,231)
	1.4.4 Investments in shares	(3,642,119)	(792,927)	(3,646,002)	(750,386)
	1.4.5 Shortage of capital on insurance subsidiaries	-	-	-	-
	1.4.6 Securitisation exposure	-	-	-	-
	1.4.7 Other deduction core capital	-	-	-	-
	1.4.7.1 Placement of funds in instrument AT 1 and/or Tier
	2 to other bank	-	-	-	-
	1.4.7.2 Cross-ownership in another entity acquired by the
	transition because of the law, grants, or grants will	-	-	-	-
	1.4.7.3 Exposure of Credit Risk because of settlement risk -
	Non Delivery Versus Payment	-	-	-	-
	1.4.7.4 Subsidiaries' exposure because shariah transaction
	(if any)	-	-	-	-
2 Additional Core Capital/Additional Tier 1 (AT 1)	-	-	-	-
2.1	Instrument which comply with AT 1	-	-	-	-
2.2	Agio/Disagio	-	-	-	-
2.3	Other deduction core capital	-	-	-	-
	2.3.1 Placement of funds in instrument AT 1 and/or Tier 2 to
	other bank	-	-	-	-
	2.3.2 Cross-ownership in another entity acquired by the transition
	because of the law, grants, or grants will	-	-	-	-
II. Supplemental Capital (Tier 2)	2,294,496	2,425,787	2,685,681	2,818,956
1 Capital Instrument in the form of Stock or others which comply with Tier 2	1,092,600	1,092,600	1,853,000	1,853,000
2 Agio/Disagio	-	-	-	-
3 General provision on earning assets (max. 1,25% Credit Risk
Weighted Assets)	1,201,896	1,333,187	873,573	1,006,848
4 Deduction supplemental capital (Tier 2)	-	-	(40,892)	(40,892)
4.1	Sinking Fund	-	-	-	-
4.2	Placement of funds in instrument AT 1 and/or Tier 2 to other bank	-	-	(40,892)	(40,892)
4.3	Cross-ownership in another entity acquired by the transition because
	of the law, grants, or grants will	-		-	-

Total Core Capital and Supplemental Capital			43,011,858	48,368,680	41,755,758	46,784,818
	MAR 31, 2023	MAR 31, 2022		MAR 31, 2023		MAR 31, 2022
	INDIVIDUAL	CONSOLIDATED	INDIVIDUAL	CONSOLIDATED	INDIVIDUAL	CONSOLIDATED	INDIVIDUAL	CONSOLIDATED
RISK WEIGHTED ASSETS				Capital Adequacy Ratio
CREDIT RISK
- WEIGHTED					CET 1 Ratio (%)	31.58%	31.26%	26.68%	27.03%
ASSETS	117,273,644	134,384,697	125,909,955	139,192,485
MARKET RISK
- WEIGHTED					Tier 1 Ratio (%)	31.58%	31.26%	26.68%	27.03%
ASSETS	2,088,650	2,081,689	2,808,638	2,783,467
OPERATIONAL
RISK -					Tier 2 Ratio (%)	1.78%		1.65%	1.83%	1.73%
WEIGHTED
ASSETS	9,589,659	10,489,207	17,696,938	20,683,363
TOTAL RISK					Capital
WEIGHTED					Adequacy
ASSETS	128,951,953	146,955,593	146,415,531	162,659,315	Ratio (%)	33.35%	32.91%	28.52%	28.76%
CAR BASED ON					CET 1 for
RISK PROFILE	9.82%	9.78%	9.56%	9.55%	BUFFER (%)	23.53%	23.13%	18.96%	19.21%
CAPITAL ALLOCATION FOR CAR BASED ON RISK PROFILE		PERCENTAGE OF BUFFER MANDATORY FILLED BY BANK (%)
					Capital
From CET 1 (%)	8.04%	8.13%	7.73%	7.82%	Conservation
					Buffer (%)	2.500%	2.500%	2.500%	2.500%
From AT 1 (%)	0.00%	0.00%	0.00%	0.00%	Countercyclical
Buffer (%)	0.000%	0.000%	0.000%	0.000%
					Capital
From Tier 2 (%)	1.78%	1.65%	1.83%	1.73%	surcharge for

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

FOR THE THREE MONTHS ENDED MARCH 31, 2023 AND 2022

(In Millions Rupiah)

						Other Comprehensive Income		Retained Earnings
				Difference in			Changes in fair
						value on marketable
			Additional Paid-in	value of equity			Shares in other			Equity attributable	Non-Controlling
			Revaluation of	Remeasurement	securities measured
	Capital Stock	Treasury Stock	transaction with	comprehensive			to owners of the	Total
	Capital	premises and	of defined benefit	at fair value	Appropriated	Unappropriated	Interest
			non-controlling	income of	parent entity
				equipment	obligation	through other
				interest	associate
						comprehensive
							income
Balance as of January 1, 2022	2,408,765	(610)	3,440,707	(269,072)	7,957,289	396,638	373,179	2,423	140,000	30,996,274	45,445,593	3,102,154	48,547,747
Transfer of surplus revaluation of premises and equipment to retained earning arising from sale of revalued premises and
equipment	-	-	-	-	(38,030)	-	-	-	-	38,030	-	-	-
Net income for the current period	-	-	-	-	-	-	-	-	-	654,157	654,157	12,053	666,210
Other comprehensive income-after tax	-	-	-	-	3,683	-	(435,013)	73	-	-	(431,257)	(1,323)	(432,580)
Balance as of March 31, 2022	2,408,765	(610)	3,440,707	(269,072)	7,922,942	396,638	(61,834)	2,496	140,000	31,688,461	45,668,493	3,112,884	48,781,377
Transfer of surplus revaluation of premises and equipment to retained earning arising from sale of revalued premises and
equipment	-	-	-	-	(465,378)	-	-	-	-	465,378	-	-	-
Distribution of cash dividends	-	-	-	-	-	-	-	-	-	(481,631)	(481,631)	-	(481,631)
Net income for the current period	-	-	-	-	-	-	-	-	-	2,387,519	2,387,519	219,281	2,606,800
Other comprehensive income-after tax	-	-	-	-	226,237	161,572	(562,549)	1,255	-	-	(173,485)	(16,967)	(190,452)
Balance as of December 31, 2022	2,408,765	(610)	3,440,707	(269,072)	7,683,801	558,210	(624,383)	3,751	140,000	34,059,727	47,400,896	3,315,198	50,716,094
Transfer of surplus revaluation of premises and equipment to retained earning arising from sale of revalued premises and
equipment	-	-	-	-	(3,698)	-	-	-	-	3,672	(26)	(25)	(51)
Net income for the current period	-	-	-	-	-	-	-	-	-	589,522	589,522	70,268	659,790
Other comprehensive income-after tax	-	-	-	-	152	-	34,758	(284)	-	-	34,626	(8,826)	25,800
Balance as of March 31, 2023	2,408,765	(610)	3,440,707	(269,072)	7,680,255	558,210	(589,625)	3,467	140,000	34,652,921	48,025,018	3,376,615	51,401,633

Special Awards Innovative Mortgage Loan - Bisnis	Peserta Sistem BI-RTGS dan BI-SSSS Terbaik Bank Buku 3	Peringkat I Tabungan Bank Umum Konvensional (KBMI 3)	Peringkat I Internet Banking Bank Umum Konvensional	Peringkat II Kartu Debit Bank Umum Konvensional (KBMI 3),	Peringkat III Kartu Kredit Bank Umum Konvensional (KBMI	Bank Pendukung UMKM Terbaik Kelompok Bank Buku 3
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			Infobank

D-SIB (%)

1.000%

1.000%

1.000%

1.000%

STATEMENTS OF FOREIGN EXCHANGE AND DERIVATIVE / FORWARD TRANSACTION

AS OF MARCH 31, 2023

(In Millions Rupiah)

				Individual
No.	Transaction	Notional		Type	Derivatives Receivables
	and Payables
		Amount
		Trading	Hedging	Receivables	Payables

1. Exchanged Rate Related

1.	Spot	1,780,380	1,780,380	-	1,896	1,761
2.	Forward	2,053,944	2,053,944	-	46,773	3,483

3. Option

	a.	Written	-	-	-	-	-
	b.	Purchased	-	-	-	-	-
4.	Future	-	-	-	-	-
5.	Swap	4,184,965	4,184,965	-	12,102	55,641
6.	Others	-	-	-	-	-

1. Interest Rate Related

1.

Forward

-

-

-

-

-

2. Option

	a.	Written	-	-	-	-	-
	b.	Purchased	-	-	-	-	-
3.	Future	-	-	-	-	-
4.	Swap	-	-	-	-	-
5.	Others	-	-	-	-	-
C.	Others	-	-	-	-	-
	TOTAL	8,019,289	8,019,289	-	60,771	60,885

Notes:

1. The financial information was taken from the Consolidated Financial Statements as of December 31, 2022 which have been audited by the Public Accounting Firm Imelda & Rekan (a member of Deloitte Asia Pacific Network and the Deloitte Network), with engagement partner Fonny Alimin, who issued an unmodified opinion.
2. This consolidated financial statement have been prepared in accordance with the Financial Services Authority Regulation No. 37/POJK.03/2019 dated December 19, 2019 concerning "Transparency and Publication of Bank's Report", copy of the OJK's Circular Letter No.9/SEOJK.03/2020 dated June 30, 2020 regarding "Transparency and Publication of Convensional Commercial Bank's Report", Financial Services Authority Regulation (POJK) No. 14/POJK.04/2022 dated August 18, 2022 concerning "Submission of Periodic Financial Statements of Issuers or Public Companies" and Bapepam-LK Regulation No.VIII.G.7 included in the Appendix of the Decree of the Chairman of Bapepam-LK (currently OJK) No. KEP-347/BL/2012 dated June 25, 2012 regarding "Presentation and Disclosure of Issuer or Public Companies' Financial Statements" related to the presentation of consolidated financial statement above.
3. The ultimate shareholders of PT Panin Financial Tbk are Gunadi Gunawan, Mu'min Ali Gunawan, Muljadi Koesumo and Tidjan Ananto. The ultimate shareholder of Votraint No. 1103 Pty Limited is ANZ Banking Group (Based on Financial Services Authority Regulation No. SR-233/PB.12.2019 dated
   September 9, 2019).
4. The exchange rates are as of March 31, 2023 USD 1 = Rp 14,994.50 ; December 31, 2022 USD 1 = Rp 15,567.50 and March 31, 2022 USD 1 = Rp 14,369.-.

Jakarta, April 18, 2023

PT BANK PANIN Tbk.

Herwidayatmo	Hendrawan Danusaputra
President Director	Deputy President Director