{
    "success": true,
    "data": {
        "id": 1333690,
        "msgid": "sigit-helps-turn-around-bii-1447893297",
        "date": "2003-12-17 00:00:00",
        "title": "Sigit helps turn around BII",
        "author": null,
        "source": "JP",
        "tags": null,
        "topic": null,
        "summary": "Sigit helps turn around BII Sigit Pramono has proven himself as a reliable banker when the government trusted him to pilot the ailing Bank Internasional Indonesia in September 2002, after the government rescued the bank from the late 1990s financial crisis. When Sigit first took the job, the bank's capital adequacy ratio (CAR) was -51.6 percent with a non-performing loan (NPL) level of 62.2 percent.",
        "content": "<p>Sigit helps turn around BII<\/p>\n<p>Sigit Pramono has proven himself as a reliable banker when the<br>\ngovernment trusted him to pilot the ailing Bank Internasional<br>\nIndonesia in September 2002, after the government rescued the<br>\nbank from the late 1990s financial crisis.<\/p>\n<p>When Sigit first took the job, the bank's capital adequacy<br>\nratio (CAR) was -51.6 percent with a non-performing loan (NPL)<br>\nlevel of 62.2 percent.<\/p>\n<p>But now, BII, the former financial flagship of the Sinar Mas<br>\nGroup conglomerate, has a CAR standing at 24.49 percent and NPL<br>\nat 7.55 percent as of the first nine months of this year. The<br>\nbank's net profit also surged to Rp 221 billion (US$26 million)<br>\nfrom Rp 30.6 billion a year earlier.<\/p>\n<p>At present, BII is the country's sixth largest bank in terms<br>\nof assets.<\/p>\n<p>Sigit was born in Batang, Central Java on Nov. 14, 1958. After<br>\ngraduating from his study in corporate management at Diponegoro<br>\nUniversity in 1983, he decided to engage in the banking business<br>\nby joining the now dissolved state-owned Bank Exim in 1984.<\/p>\n<p>From 1985 to 1987, Sigit was an assistant manager for domestic<br>\nbanking division, before becoming an assistant manager in<br>\ntreasury and international banking division from 1987 to 1988.<\/p>\n<p>Sigit also had experiences in the non-banking industry from<br>\n1988 to 1992.<\/p>\n<p>In 1993, Sigit returned to the banking business when he served<br>\nas vice president director for Bank Merincorp, a subsidiary of<br>\nExim, before returning to Exim in 1997.<\/p>\n<p>In Exim, he was posted as head of the loan syndication<br>\ndepartment, and a year later served as division head in the loan<br>\nremedy division.<\/p>\n<p>When Exim and three other state-owned banks merged to become<br>\nBank Mandiri in 1999, Sigit was placed as division head in the<br>\nloan work out division for a brief period, and later on trusted<br>\nas a senior vice president for the credit restructuring unit<br>\nAugust 2001, and as a senior vice president for credit recovery<br>\ngroup from August 2001 to May 2002.<\/p>\n<p>The government afterwards appointed Sigit as head of the<br>\nrestructuring and management team for BII, before taking the<br>\nbank's top position. -- JP<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/sigit-helps-turn-around-bii-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}