Bank Pacific's repayment

JAKARTA (JP): The liquidation team of Bank Pacific, one of 16 banks shut down by the government last year, will begin its second phase of repayment for bank customers on Jan. 26.

The team's head, Muhammad Ma'ruf Saleh, said it would disburse the funds of 1,200 deposit and savings accounts worth a total Rp 23 billion (US$2.87 million) in the bank's 20 branches located in Jakarta, Surabaya, Medan and Bandung.

Depositors will be given checks worth up to Rp 20 million for each account at the bank's branches to be cashed at state Bank Bumi Daya, Ma'ruf was quoted by Antara as saying.

Those who have more than Rp 20 million in an account will be paid in the next payment period, he stated, saying that he was optimistic that all depositors would be paid within two years.

Bank Indonesia had begun disbursing deposits and savings accounts of the closed banks, which were worth no more than Rp 20 million, last year through three state banks.

Ma'ruf said about Rp 1.5 trillion of Rp 1.6 trillion in loans given out by Bank Pacific had not been paid. (das)