GOVT READY TO FACE HOUSE PROBE INTO BANK CENTURY CASE

Jakarta, Nov 13 (ANTARA) – The government said on Friday it was ready to face a House motion to probe the Rp6.7 trillion (US$723 million) bailout it had provided for ailing Bank Century. A total of 139 legislators officially submitted on Thursday a proposal to form an inquiry team for the investigation of the bailout. [...]

INQUIRY COMMITTEE NEEDED TO PROBE BANK CENTURY

Jakarta, Oct 29 (ANTARA) – When ailing Bank Century was taken over by the Deposit Insurance Agency (LPS) in September last year and the government moved by providing bail-out funds totaling Rp6.7 trillion , the bank’s customers hoped they would get their money back soon. 
        However, the bank’s customers had hoped in vain because until [...]

ALLEGED CRIMES COMMITTED IN BANK CENTURY CASE By

Jakarta, Sept 30 (ANTARA) – The case of bankrupt Bank Century, which was taken over late last year by the Deposit Insurance Agency (LPS) and received a much-criticized injection of Rp6.7 trillion from the government recently, involves banking crimes, according to an interim auditing report.      Indications of criminal offenses in the Bank Century case were [...]

BPK TO AUDIT BANK CENTURY

Jakarta, Aug 29 (ANTARA) – The State Audit Board (BPK) is soon to audit ailing Bank Century into which the government has injected fresh funds totaling Rp6.7 trillion or far in excess of the Rp1.3 trillion the government had previously mentioned to the House of Representatives (DPR).”BPK will soon follow up a request for the [...]

BANKS ORDERED TO CUT LENDING RATES

Jakarta, May 7 (ANTTARA) – Amid calls by businesses and economic observers for significant cuts in banks’ lending rates, the government ordered state-owned banks to lower the interest rates of their credits in order to stimulate the real sector. Acting Coordinating Minister for Economic Affairs Sri Mulyani Indrawati [...]

BANKS NOT LIKELY TO CUT RATES SOON

Jakarta, May 5 (ANTARA) – Banks are unlikely to lower their lending rates in the near future despite the fact that Bank Indonesia (BI) once again cut its benchmark rate by 0.25 basis points to 7.25 percent on Tuesday, another step which saw the central bank’s aggressive steps which have since January [...]

BANKS’ LENDING ACTIVITY STILL LOW

Jakarta, May 2 (ANTARA) – Banks’ lending activity in the country is still low because banks are still reluctant to aggressively provide credits for fear of non-performing loans while demand for credits is also declining due to the impact of the world economic crisis which also affects Indonesia.    “A recent survey on banks indicated weak [...]

TENS OF INDNESIAN BANKS IN RISKY CONDITION

Jakarta, April 21 (ANTARA) – Following last week’s liquidation of IFI bank by Bank Indonesia (BI), economists warned on Tuesday of risky conditions of about 40 to 50 small banks in the country, advising the central bank that it should ask them to merge.   Of the 130 banks in Indonesia, only about 15 large [...]

HIGH RETURN ON DEPOSITS HAMPERING LOWER BANK INTEREST RATES

Jakarta, April 6 (ANTARA) – Banks have not yet responded to calls from various quarters to cut their interest rates on credits because interest rates on deposits are still high. Various quarters have urged banks to cut their interest rates on credits in order to help stimulate the real sector [...]

BANKS URGED TO LOWER LENDING RATES

Jakarta, March 12 (ANTARA) – Following last week’s step by Bank Indonesia (BI/the central bank) to lower its benchmark rate (locally known as BI Rate) to 7,75 percent, various sides are calling on banks to also lower the interest rates of their credits to help generate domestic economy.
“Banks need to lower [...]