Related parties Nature of relationship Nature of transaction PT Lunar Inovasi Teknologi Owned by the same ultimate
shareholder Loans receivable, deposits from customers
PT Marga Sadhya Swasti Owned by the same ultimate
shareholder Loans receivable, deposits from customers
PT Margo Hotel Development Owned by the same ultimate
shareholder Deposits from customers PT Margo Property Development Owned by the same ultimate
shareholder Deposits from customers PT Media Digital Historia Owned by the same ultimate
shareholder Loans receivable, deposits from customers
PT Merah Cipta Media Owned by the same ultimate
shareholder Loans receivable, deposits from customers
PT Mitra Media Integrasi Owned by the same ultimate
shareholder Deposits from customers PT Momentum Global Pratama Owned by the same ultimate
shareholder Loans receivable, deposits from customers
PT Multigraha Lestari Owned by the same ultimate
shareholder Deposits from customers PT Nagaraja Lestari Owned by the same ultimate
shareholder Deposits from customers PT Narasi Akal Jenaka Owned by the same ultimate
shareholder Deposits from customers PT Nova Digital Perkasa Owned by the same ultimate
shareholder Deposits from customers PT Orbit Abadi Sakti Owned by the same ultimate
shareholder Loans receivable, deposits from customers
PT Pradipta Mustika Cipta Owned by the same ultimate
shareholder Deposits from customers PT Prema Gandharva Asia Owned by the same ultimate
shareholder Loans receivable, deposits from customers
PT Prima Top Boga Owned by the same ultimate
shareholder Loans receivable, deposits from customers
PT Profesional Telekomunikasi
Indonesia Owned by the same ultimate
shareholder Loans receivable, deposits from customers
PT Promedia Punggawa Satu Owned by the same ultimate
shareholder Deposits from customers PT Promoland Indowisata Owned by the same ultimate
shareholder Loans receivable, deposits from customers, bank guarantee issued to customers PT Prosa Solusi Cerdas Owned by the same ultimate
shareholder Loans receivable, deposits from customers
PT Puri Dibya Property Owned by the same ultimate
shareholder Deposits from customers PT Puri Padma Management Owned by the same ultimate
shareholder Deposits from customers PT Puri Zuqni Owned by the same ultimate
shareholder Deposits from customers PT Quattro International Owned by the same ultimate
shareholder Loans receivable, deposits from customers
PT Rajawali Inti Selular Owned by the same ultimate
shareholder Deposits from customers PT Resinda Prima Entertama Owned by the same ultimate
shareholder Deposits from customers PT Sapta Adhikari Investama Owned by the same ultimate
shareholder Deposits from customers
Related parties Nature of relationship Nature of transaction PT Sarana Kencana Mulya Owned by the same ultimate
shareholder Deposits from customers, letter of credit
PT Sarana Menara Nusantara Tbk Owned by the same ultimate
shareholder Deposits from customers PT Savoria Adi Rasa Owned by the same ultimate
shareholder Deposits from customers PT Savoria Kreasi Rasa Owned by the same ultimate
shareholder Deposits from customers, bank guarantee issued to customers PT Seminyak Mas Propertindo Owned by the same ultimate
shareholder Deposits from customers PT Sentral Investama Andalan Owned by the same ultimate
shareholder Deposits from customer PT Sewu Nayaga Tembaya Owned by the same ultimate
shareholder Deposits from customers PT Sinergi Nasional Rakyat
Indonesia Owned by the same ultimate
shareholder Deposits from customers PT Solusi Sentra Niaga Owned by the same ultimate
shareholder Deposits from customers PT Solusi Tunas Pratama Tbk Owned by the same ultimate
shareholder Loans receivable, deposits from customers
PT Solusi Verifikasi Indonesia Owned by the same ultimate
shareholder Deposits from customers PT Sumber Kopi Prima Owned by the same ultimate
shareholder Loans receivable, deposits from customers
PT Supra Boga Lestari Tbk Owned by the same ultimate
shareholder Loans receivable, deposits from customers
PT Supra Kreatif Mandiri Owned by the same ultimate
shareholder Deposits from customers PT Supra Mas Mandiri Owned by the same ultimate
shareholder Deposits from customers PT Tricipta Mandhala Gumilang Owned by the same ultimate
shareholder Deposits from customers PT Trigana Putra Mandiri Owned by the same ultimate
shareholder Deposits from customers PT Verifikasi Informasi Credit
Indonesia Owned by the same ultimate
shareholder Loans receivable, deposits from customers
PT Verve Persona Estetika Owned by the same ultimate
shareholder Deposits from customers Key management personnel Bank’s Board of Commissioners
and Board of Directors Loans receivable, deposits from customers, employee benefits The Bank’s controlling individuals
and their family members Shareholder Loans receivable, deposits from customers
In the normal course of business, the Bank has transactions with related parties due to their common ownership and/or management. All transactions with related parties are conducted with agreed terms and conditions.
The details of significant balances and transactions with related parties that were not consolidated as of 31 December 2022 and 2021, and for the years then ended were as follows:
2022 2021
Amount Percentage to
total Amount Percentage to total
Loans receivable*) (Note 12) 9,445,463 1.36% 8,883,029 1.43%
Right-of-use asset - net**) (Note 16) 227,939 0.92% 248,556 1.12%
Other assets***) (Note 18) 9,216 0.06% 8,482 0.05%
Deposits from customers (Note 19) 2,412,327 0.23% 2,730,363 0.28%
Unused credit facilities to customers (Note 28) 2,813,955 0.88% 2,278,462 0.84%
Letter of credit facilities to customers (Note 28) 141,500 0.97% 37,274 0.30%
Bank guarantee issued to customers (Note 28) 441,369 2.23% 68,824 0.38%
Interest and sharia income (Note 29) 501,811 0.69% 267,164 0.41%
Interest and sharia expenses (Note 30) 34,271 0.42% 33,245 0.35%
Pension plan contribution (Note 34) 397,621 86.23% 391,116 86.35%
Rental expenses (Note 35) 13,398 1.19% 13,398 1.32%
*) Before allowance for impairment losses.
**) Represent right-of-use asset to PT Grand Indonesia.
***) Represent security deposits to PT Grand Indonesia.
Compensations for key management personnel of the Bank (Note 1e) were as follows:
2022 2021
Short-term employee benefits (including tantiem) 806,567 608,910
Long-term employee benefits 41,109 42,234
Total 847,676 651,144
Rental agreement with PT Grand Indonesia
On 11 April 2006, the Bank signed a rental agreement with PT Grand Indonesia (a related party), in which the Bank agreed to lease, on a long-term basis, the office space from PT Grand Indonesia with a total area of 28,166.88 sqm at an amount of USD 35,631,103.20, including Value Added Tax (“VAT”), with an option to lease for long-term additional space of 3,264.80 sqm at an amount of USD 4,129,972, including VAT. This rental transaction was approved by the Board of Directors and Shareholders in the Bank’s Extraordinary General Meeting of Shareholders on 25 November 2005 (the minutes of meeting was drawn up by Notary Hendra Karyadi, S.H., with Deed No. 11). This rental agreement started on 1 July 2007 and will end on 30 September 2035.
As of 31 December 2022 and 2021, right-of-use asset to PT Grand Indonesia amounted to Rp 227,939 and Rp 248,556, of these amount, Rp 170,819 and Rp 184,217, respectively has been fully paid. The finance lease obligation to PT Grand Indonesia which was recorded on 31 December 2022 and 2021 were Rp 58,593 and Rp 65,608, respectively.
On 24 October 2008, the Bank paid security deposits for additional space on the 30th (thirtieth) and 31st (thirty first) floor of 3,854.92 sqm at an amount of USD 208,165.68. This agreement was notarised in Deed No. 110 dated 22 May 2008 of Notary Dr. Irawan Soerodjo, S.H., M.Si.