Banks' losses total Rp 38.7t<\/p>\n
JAKARTA (JP): Indonesia's 164 commercial banks suffered losses
\nof Rp 38.70 trillion (about US$5.3 billion) in 1999, which is a
\nsharp turnaround from Rp 62.49 trillion in the previous year.<\/p>\n
Despite the massive losses, profitability of the country's
\nbanking industry showed an improvement, according to the research
\ndepartment of Infobank magazine.<\/p>\n
The monthly magazine reported that 72 banks recorded meager
\nprofits but the other 92 still suffered significant losses.<\/p>\n
The largest losses were suffered by banks joining the
\ngovernment-sponsored recapitalization programs, including Bank
\nNiaga, Bank Danamon, Bank Nusa Nasional, Bank Duta, Bank
\nInternasional Indonesia (BII), Bank Lippo, Bank Universal and
\nthree state-owned banks -- Bank Mandiri, Bank Tabungan Negara
\n(BTN) and Bank Negara Indonesia (Bank BNI).<\/p>\n
Total assets of the country's banks also showed an
\nimprovement, rising by about 30 percent to Rp 812.13 trillion.
\nThe total public funds raised by the banks increased by 33
\npercent to Rp 768.15 trillion. The capital adequacy ratio (CAR)
\nof 13 banks were still below the minimum level of 4 percent set
\nby th central bank. (hen)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/banks-losses-total-rp-387t-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
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