Annual Report Maybank Indonesia 2024

2020

Bank For All

It certainly was not business as usual in 2020. The Coronavirus Disease 2019 (COVID-19) pandemic caused an escalation in risk, volatility and uncertainty. COVID-19 also led to the implementation of mobility restriction and social distancing. The Bank sought to adapt swiftly in managing banking operations to minimise the impact of economic activity decline towards the sustainability and operating profit of the Bank. In order to stay connected and continue to transact, online transaction or digital has been the key choice among society for various activities or needs. The pandemic thus became the impetus to accelerate the strategy of digital transformation; one that has been consistently carried out by Maybank Indonesia over the past few years.

In 2020, M2U application was continuously improved along with the refinement and development of new features in order to be at the forefront in serving customers' need regardless of distance, time, or the need for face-to-face interactions. Maybank Indonesia also continues to expand its digital ecosystem by developing more and more digital banking solutions with the advantages of being more practical, faster speed, and secured transactions. All products and services are designed to fulfill various needs of Maybank Indonesia's different customer segmentations, among others Young Professional, Young Families, Silver Age, and Golden Age.

With consistency to build excellence in serving all communities with quality product innovation, simple process, and digital connectivity, Maybank Indonesia continue to strengthen its position as a BANK FOR ALL, now and in the future.

2021

Growing With You

Amidst the challenges, Maybank Indonesia's commitment to grow and benefit all stakeholders has never wavered. Driven by ingenuity, creativity, and resilience, Maybank Indonesia has continued to grow as a business entity together with communities. The growth is founded upon environment, social, and governance principles that are increasingly important for a world that is more equitable, prosperous, and more sustainable

2022

One Bank Impacting Many

The theme for the 2022 report reflects Maybank Indonesia's position as a financial institution that continues to create a positive impact on customers, communities and the environment. Efforts that are manifested include through digital banking innovations according to changes in customer preferences, a commitment to implementing sustainable finance, and a focus on Environmental, Social and Governance (ESG) aspects in banking operations. The theme also represents the spirit of 'One Maybank', an initiative to maximise synergies between Maybank Group entities in Indonesia in order to present a more comprehensive financial solution service for service users, as a differentiating strategic factor that provides added value to Maybank Indonesia in the long term.

2023

Exceeding Expectations

"Exceeding Expectations" can be an appropriate expression to describe Maybank Indonesia's presence in the Indonesian banking market and industry to date. The expression manifests itself, for example, when Maybank Indonesia innovates to provide "great" rather than just "good" products and services, or when Maybank Indonesia looks to be a trendsetter and leader in certain fields. "Exceeding Expectations" also describes Maybank Indonesia's commitment to creating added value for shareholders, Maybankers, society, and the community by maintaining excellent levels of growth and financial performance, ensuring work-life balance for Maybankers, and delivering a long-term positive impact for customers, the community, and the environment.

By 'Exceeding Expectations', Maybank Indonesia will be able to remain relevant in the future as one of the leading banks in Indonesia.

2024

One Team, One Direction, New Energy

The spirit of Maybank Indonesia's "One Team, One Direction, New Energy" reflects a shared desire to unify our vision, pool our strengths, and instill new motivation and innovation into every aspect of our business. Collaboration is the key to achieving unity and sustainable growth in various fields. With one clear goal, all Maybankers move in one rhythm, allowing us to adapt to market dynamics and the increasingly challenging Indonesian financing industry.

"One Team, One Direction, New Energy" encapsulates the work culture transformation that emphasises togetherness, common goals, and renewed energy. These three pillars are the foundation for growing sustainably and presenting a financial experience where human values always come first. It is the persona that Maybank Indonesia embraces to face future challenges and gain a competitive advantage in the banking industry.

The content structure of the Maybank Indonesia Annual Report refers to the Annual Report writing guidelines and regulations that prevail in Indonesia.

Referring to the Integrated Report framework recently issued by International Integrated Reporting Council (IIRC), which suggests that an annual report shall refer to 6 (six) capitals namely Financial, Manufactured, Intellectual, Human, Relationship & Social and Natural, then principally, Maybank Indonesia's 2024 Annual Report has covered discussion on the referred six capitals.

Below is Maybank Indonesia Annual Report's content when viewed under the 6-capital scheme suggested by IIRC for an annual report writing.

2 Theme Continuity

1. Disclaimer and Limitation of Liability
2. Our Competitive Advantage
3. Maybank Group Strategy

1. 7 Initiative Programmes Uplift Indonesia
2. 12 Pillars Uplift Indonesia
3. Strategic Policies (Strategic Thrust) 'Uplift Indonesia'

1. Key Achievement 2024

1. Overview of Sustainability Performance 2024

1. Initiatives and Digital Performance Achievements
2. New Feature Launched in 2024

1. MAIN HIGHLIGHTS

1. Financial Highlights

1. Operational Highlights
2. Shares Highlights

1. Bond, Sukuk, or Convertible Bond Highlights
2. Corporate Ratings

36 Event Highlights in 2024

1. Maybank Sustainability Day 2024

1. Awards and Certifications

02 MANAGEMENT REPORT

1. Report of the Board of Commissioners

1. Report of the Board of Directors

1. Report from the Shariah Supervisory Board

1. Statements of Accountability for
   2023 Annual Report by the Board of Commissioners of PT Bank Maybank Indonesia Tbk
2. Statements of Accountability for
   2023 Annual Report by the Board of Directors of PT Bank Maybank Indonesia Tbk

03 COMPANY PROFILE

1. General Bank Information
2. Maybank Indonesia in Brief

1. Corporate Logo and Identity
2. Our Journey

1. Organisational Structure

1. Vision, Mission, and Corporate Culture

1. Core Business

1. Products and Services

1. Board of Commissioners Profile

100 Board of Directors Profile

1. Changes in the Composition of Management after Fiscal Year
2. Senior Management Profile

1. Employee Statistics and Profiles
2. Shareholding Composition

1. Corporate Group Structure
2. Maybank Group Profile
3. Subsidiaries and Joint Ventures

1. Share Listing Chronology

1. Other Securities Listing Chronology

1. Ratings

1. Public Accountant & Public Accountant Firm Services
2. Capital Market Supporting Institutions and Professions
3. Information on Corporate Website
4. Operational Areas

1. Branch Offices Address

04 MANAGEMENT DISCUSSION AND ANALYSIS

1. Macroeconomic Review

1. Global Banking

1. Community Financial Services (CFS)

1. Shariah Banking

1. Maybank Finance

1. WOM Finance

1. Profitability By Segments

1. Financial Review
2. Financial Performance Analysis

193 Consolidated Statement of Profit or Loss and Other Comprehensive Income

1. Consolidated Statement of Cash Flows

1. Key Financial Ratios
2. Prime Lending Rate
3. Commitments and Contingencies
4. Earning Assets Quality Report and Other Information
5. Other Material Information

1. Capital Structure
2. Investment Property

1. Material Commitments for Capital Goods Investment

1. Capital Goods Investment Realised In The Last Fiscal Year
2. Material Information and Facts Subsequent to the Accountant's Report Date

1. Comparison of Targets and Realisation 2024

1. Projections 2025
2. Dividend Distribution Policy
3. Employee and/or Management Stock Ownership Program (ESOP/MSOP)

206 Realisation of the Use of Proceeds from Public Offering

206 Significant Changes in the Bank and the Bank Business Groups in 2024

206 Significant Prohibition, Restrictions, and Constraint to Transfer Funds Between the Bank and Other Entities in tThe Business Group

1. Provision of Funds, Commitments, and Other Facilities

1. Other Important Transactions in Significant Amounts

206 Material Transactions Related to Investment, Expansion, Divestment, Acquisition, and Restructuring

206 Material Transactions Containing Conflicts of Interest and Transactions with Affiliated/Related Parties

208 Changes in Laws and Regulations that Have a Significant Impact on Banks

1. Changes in Accounting Policies
2. Compliance As Taxpayers

1. Marketing Aspects

1. Business Prospects

1. Business Continuity Information

1. Business Continuity Management

1. Guidelines And Support of Maybank Group on the 2025 Business Sustainability Plan
2. Results and Progress Achieved by Maybank Indonesia in Implementing ESG

05 FUNCTIONAL REVIEW

234 Human Capital

251 Information Technology

1. Branch Network Development

1. Operations and Customer Service

1. Risk Management

06 GOOD CORPORATE GOVERNANCE

414 Good Corporate Governance

1. Corporate Governance Policy Basis
2. Year-On-YearFocus of Governance Implementation

1. Corporate Governance Roadmap
2. Bank's Governance Structure
3. Self-AssessmentResults of Good Corporate Governance Implementation in 2024
4. Information on Major and Controlling Shareholders
5. General Meeting of Shareholders

1. Board of Commissioners

1. Board of Directors

1. Affiliation between Board of Commissioners, Board of Directors and Majority/Controlling Shareholders
2. Board of Commissioners and Directors Diversity Policy

1. Committees of the Board of Commissioners

1. Remuneration Policy

1. Committees of the Board of Directors

1. Corporate Secretary

1. Corporate Security Management
2. Compliance Unit

1. Administrative Sanctions
2. Implementation of the Anti-Money Laundering Program, Counter-Terrorism Financing, and Prevention of the Financing of Weapons of Mass Destruction Proliferation Program (AML CFT & CPF)

1. Whistleblowing System and Anti Fraud

1. Legal Issues

1. Taxation Management and Control
2. Internal Audit Unit

1. Intern Control System

1. Investor Relations
2. Risk Management

1. Public Accountant/External Auditor

1. Access to Company Information and Data

1. Code of Ethics and Code of Conducts

1. Corporate Culture
2. The Company's Vision in Supporting Sustainable Performance and the Role of Corporate Governance

1. Integrity as a Business Strategy for Long-Term Sustainability
2. Transparency of Financial and Non-Financial Conditions that Have not Been Disclosed in Other Report
3. Quarterly Publication Report
4. Provision of Funds to Related Party and Large Exposure
5. Provision of Funds for Social and Political Activities
6. Procurement Policy of Goods and Services
7. Customer Protection Policy

1. Anticorruption Policy

1. Creditors' Rights Safeguard
2. Dividend Distribution Policy

1. Conflict of Interest Policy (including Insider Trading)
2. Affiliate and Conflict of Interest Transactions in accordance with Financial Services Authority Regulation No. 42/ POJK.04/2020 concerning "Affiliate Transactions and Conflict of Interest Transactions"
3. Bad Corporate Governance Practices

1. Bank Strategic Plan

1. Ratio of Highest and Lowest Salary and Variable Remuneration Received by Employees
2. Implementation of OJK Public Company Governance Guidelines

1. General Guidelines for Indonesian Corporate Governance (PUGKI)

1. Implementation of Corporate Governance Aspects and Principles in Accordance with the Guidelines of Corporate Governance Principles for Banks Issued by the Basel Committee in Banking Supervision

1. Integrated Governance Implementation Report

1. Implementation of the ASEAN Corporate Governance (CG) Scorecards

1. Board of Commissioners Approval Sheet Good Corporate Governance (GCG) Implementation Report 2023
2. Board of Directors Approval Sheet Good Corporate Governance (GCG) Implementation Report 2024
3. GCG Report Shariah Business Unit 2024

07 CORPORATE SOCIAL

RESPONSIBILITY

617 Foundation for the Implementation of Corporate Social Responsibility (CSR)

617 Implementation of Sustainable Finance in Realising Corporate Social Responsibility

620 Sustainability Achievements in 2024

622 Economic, Environmental, and Social Performance

01

02

03

04

High Quality Services

The Bank has the expertise to understand the increasingly unique needs of its clients and offer them need-based solutions by ensuring high-quality service and optimal customer satisfaction.

Fast and Efficient Processes

The Bank consistently provides the fastest processes for SME financing and multifinance.

Product Innovation and Comprehensive Solutions

The Bank offers integrated, need-based financial services for customers through holistic solutions, including securities, asset management, and insurance.

Regional Connectivity

Maybank Indonesia is one of the leading banks with an extensive regional network in Southeast Asia, which can support cross-border operations.

Infusing the principles of ethical banking (fairness, inclusivity, preservation of environment and exclusion of harmful activities to mankind) as a differentiator to drive economic value for the Group

Upskilling and equipping Maybankers with the right technological capabilities, further unlocking their potential

Orchestrating digital ecosystems and integrating customer offerings across the region

Providing customers with hyper-personalised solutions to support them through their life journeys and serving the Community as the Force for Good

01

Intensify Customer-centricity

Full agile and iterative Minimum Viable Product (MVP) approach, through customer journeys and imagining the end-state model

Drive Leadership in Sustainability Agenda

Expanded scope to embrace ethical banking principles, deepening social impact and execution of decarbonisation strategy

Achieve True Global Leadership in Islamic Banking

Global Islamic wealth management (IWM), Singapore as hub and Middle East/ASEAN countries as spoke