According to his statement in this case acted as an independent commissioner of the company;--- 4. According to his statement in this case he acted as a director (simultaneously acting as compliance director) of the company;--- 12. Fixation of salary or fees and other allowances to the company's board of directors and board of commissioners;--- 4.
JAHJA SETIAATMADJA as Chief Executive Officer of the Company to convey to the Meeting the highlights of the annual report for the financial year 2014 (two thousand and fourteen) as contained in Appendix I attached hereto. That's all and thank you very much.--- -The Chairman of the meeting requested Mr. JAHJA--- SETIAATMADJA as CEO of the company to answer the above question; Mr.
To approve the annual report, including the report of the board of commissioners on supervisory duties for the financial year that ended on December 31, two thousand and fourteen, which is contained in the book of the annual report for 2014 (two thousand and fourteen) ;. To determine that in accordance with the balance sheet and income statement of the company for the financial year ended on the 31st day of December, two thousand and fourteen, which had been audited by the registered public accounting firm of Siddharta & Widjaja, member firm. Commissioners and members of the company's board of directors who hold office in and during the financial year 2014 (two thousand and fourteen) in compliance with the general meeting's --- resolutions and to determine the distribution of the bonus between the -- members of the board of directors and members of the board of directors of the --- Company, which holds office in and during the financial year 2014 (two thousand and fourteen), including everything in connection with the payment of the-- bonus, with the provision that the amount of the bonuses to be paid to the members of the board and the board members must be reported in the annual report for the 2015 (two thousand and fifteen) financial year;- -- 4.
With regard to this item on the agenda of the Meeting, the Chairman of the Meeting proposed that the Meeting adopt the following resolutions:--- (i) FARINDO INVESTMENTS (MAURITIUS) LIMITED, qualitate qua (q.q.) MR. Shareholders, shareholder representatives and members of the Supervisory Board of PT Bank Central Asia Tbk, as well as the public. Granting power and authority to the Board of Directors (with the approval of the Supervisory Board), if the financial situation of the Company so permits, to declare and distribute interim dividends for the 2014 financial year.
Brief report on the company's balance sheet and profit loss for the 2015 Annual General Meeting of Shareholders.
Brief Report on Balance Sheet and Profit Loss of the Company To the Annual General Meeting of Shareholders for 2015
PT Bank Central Asia, Tbk
Total Assets
The increase in total assets was supported by growth in third-party funds and equity. Absolute in IDR (Rupiah) currency, the credit portfolio grew the most compared to other components of productive assets. Credit growth was successfully achieved by maintaining credit quality and the strong liquidity position as well as capitalization.
The majority of securities consisted of Certificate of Bank Indonesia, Government Bond and Corporate Bond. The increase in Certificate of Bank Indonesia portfolios was in line with the reallocation of the majority of short-term placements of the securities purchased under Agreement To Resell to the Certificate of Bank Indonesia instrument (included in the investment securities category) to better to obtain returns. . Meanwhile, the bill of securities purchased under Agreement To Resell fell by 36.0% to IDR 26.3 trillion at the end of 2014, from IDR 41.1 trillion at the end of 2013.
Credit Portfolio
BCA faced sufficient competition in the SME segment, in which all banks in this segment competed with each other. Meanwhile, BCA maintained its consumer credit growth rate, in line with the economic slowdown in Indonesia as a whole. Housing loan (KPR) grew by 3.2% to IDR 54.7 trillion, with growth occurring in the fourth quarter of 2014, after remaining relatively flat for the previous four quarters.
The increase is attributed to the measures taken by the BCA to reduce the interest rate of the KPR in September 2014. The BCA has taken prudent measures in the distribution of credit and has carried out strict supervision over the portfolio it owns. The measures were reflected in the low non-performing loan (NPL) of 0.6% with the ratio of reserves to NPL of 324.2%.
Third Party Funds
Backed by its superiority as a transaction bank, BCA has been able to maintain a solid liquidity position with low funds derived from transaction assets in Current and Savings Accounts (CASA). In 2014, BCA managed to record a CASA growth of 4.2% to IDR 336.4 trillion, which was achieved in a year marked by unfavorable national economic conditions and BCA's CASA rate unchanged. CASA assets represent the majority of third-party assets, namely 75.1% of all third-party assets.
Savings increased by 4.2% to IDR 229.0 trillion in 2014, compared to that of the previous year, which was IDR 219.7 trillion. To support BCA's liquidity position as a whole, BCA proactively increased the interest rate on term deposits based on the category of a certain amount and a certain term. Due to such measures, term deposit funds increased significantly by 28.8% to IDR 111.5 trillion at the end of 2014.
Stockholders’ Equity
BCA's capital has been successfully maintained at a solid level with a capital adequacy ratio (CAR) recorded at 16.9% for the holding and 17.2% for the consolidation. The following is an explanation of the main accounts in the income statement of PT Bank Central Asia Tbk for the financial year 2014.
Operating Income Interest Income
Subsequently, the Interest income from non-credit productive assets increased by 27.2% to IDR 10.3 trillion in 2014; and contributed 23.6% to the total Interest income of BCA in 2014. The significant increase was mainly attributable to an increase in Interest expenses derived from the time deposit product. To support the liquidity position, BCA proactively raised time deposit funds by increasing the time deposit interest rate for the category of certain amount and tenor.
In line with the growth of funds or the increase in interest rates on term deposits, interest charges on term deposits increased by 107.7% to IDR 6.7 trillion, while interest charges on checking and savings accounts were relatively stable and recorded at IDR 1 ,1. trillion and IDR 2.5 trillion respectively in 2014. Other interest expenses increased by 33.6% to IDR 1.5 trillion, mainly due to the interest expenses on the loan received by subsidiaries and the government guarantee premium. The significant increase in interest income had led to an increase in BCA's net interest income by 21.2% or IDR 5.6 trillion to IDR 32.0 trillion in .
In 2014, fee income - net reached 80.7% of total non-interest operating income, while income from trading transactions - net contributed 9.2% and other operating income 10.1% of total non-interest operating income. Fee and commission income - net increased by 15.5% to IDR 7.3 trillion in 2014, mainly due to increases in monthly administrative fee income, credit card fee and commission income, and bank transaction service fees. Trade Transaction Revenue - Net decreased by IDR 333 billion or 28.6% to IDR 833 billion, mainly due to a decrease in the value of foreign currency transactions compared to that of the previous year.
Operating Expenses
The increase in Operating Expenses also came as a result of the consolidation of Operating Expenses of BCA Insurance and Central Santosa Finance since September 2013 and January 2014 respectively. Excluding the consolidation of BCA Insurance and Central Santosa Finance, BCA's Operating Expenses in 2014 increased by 19.9%. In consolidation, General and Administrative Expenses increased by 20.9% to IDR 8.9 trillion in 2014, mainly due to the increase in daily operating expenses, promotion and maintenance cost, depreciation cost and rental expenses.
These increases were in line with the expansion of the branch network and new investments in the BCA electronic network accompanied by an increase in information technology capacity and capability. In 2014, employee expenses in consolidation increased by 26.3% to IDR 8.7 trillion, in line with an increase in salary and allowances, including the award of bonus, pension fund and other allowances. The establishment of CKPN was in accordance with BCA's prudent risk management principles and also in accordance with the applicable provisions of SFAS.
The establishment of higher CKPN was primarily based on any potential increase in credit impairment using a collective method, adjusted after management's consideration of the current economic condition and credit condition.
The Company’s Net Profits
Report on Supervisory Duties of the Board of Commissioners for the 2015 Annual General Meeting of Shareholders Report on Supervisory Duties of the Board of Commissioners for the 2015 Annual General Meeting of Shareholders PT Bank Central Asia, Tbk. In practice, the board of commissioners actively provides contributions to the company's board of directors as deemed necessary.
During 2014, the board of commissioners held 50 meetings and 15 joint meetings with the board. The Board of Commissioners ensures that the company's development has been in accordance with the company's vision and mission or based on work goals and program. Based on the results of the inspection carried out, the Board of Commissioners is of the opinion that already in 2014 the Board is carrying out a number of its functions properly.
The following is the main report on the supervision carried out by the Board of Commissioners in 2014. EXPLANATION BY THE BOARD OF DIRECTORS ON THE USE OF THE COMPANY'S NET PROFIT AT THE GMS ANNUAL MEETING FOR THE FISCAL YEAR 2015. Dear shareholders of PT Bank Central Asia Tbk, the Board of Directors and the audience.