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Bank Indonesia closes down 6 BPR.

Bank Indonesia, revoked the license of six "People's Credit Banks (BPR) in 2004. The main reasons for the revocation is mismanagement in addition to problem over capital adequacy ratio (CAR), a central bank director Irman Djaja Dalimi said. The 6 banks including two in Jakarta, one in Yogyakarta, one in Semarang, one in Surabaya and one in Kupang, brought the number of BPR closed down to 312 units since 1987, Dalimi said. Meanwhile, the central bank extended principle licenses to 34 new units and license to 34 other units of BPR. The interest is high in opening BPRs, he said, pointing out in 2004 there were 142 applications for license submitted to the central bank. By September, 2004, BPR units in the country had assets valued at Rp 15.4 trillion (US$1.7 billion) altogether or an increase of 33.5% in a year.
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Title Annotation:ECONOMIC NEWS IN BRIEF
Comment:Bank Indonesia closes down 6 BPR.(ECONOMIC NEWS IN BRIEF)
Publication:Indonesian Commercial Newsletter
Article Type:Brief Article
Geographic Code:9INDO
Date:Jan 11, 2005
Words:145
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