Bank Niaga's problem loans

Bank Niaga's problem loans

Thank you for publishing an article on Bank Niaga (May 9, 1997), however I would like to provide the following correction.

On page 12 (article Bank Niaga wary of property sector), column 9, paragraph 2, it was stated that "Bank Niaga's head of corporate affairs,... and that its bad loans for the sector were less than 1 percent of its total bad loans of Rp 87,638 billion."

It should have been written, "Bank Niaga's head of corporate affairs,... and that its bad loans for the sector were less than 1 percent of its total problem loans of Rp 78.717 billion in 1996."

Please notice that the number you mention (Rp 87,638 billion) is not our total bad loans, but it is a total provision for bad debt which appears in our published financial performance for 1996.

I hope this additional information would give you a better understanding of Bank Niaga.

JONKI KRESNADI

Corporate Affairs Head

Bank Niaga, Jakarta