BI closes down

BI closes down
Bank Global

After months of unsuccessful rescue efforts, Bank Indonesia (BI)
decided late on Thursday to close down the ailing Bank Global.
The central bank's deputy governor, Bun Bunan Hutapea, said the
move had to be taken because the bank's financial condition did
not show any signs of recovery. Bun Bunan blamed the situation on
the bank's management and shareholders, calling them
uncooperative in salvaging the bank. Bank Global's capital
adequacy ratio (CAR) -- a comparison between a bank's capital and
its risk-weighted assets including loans -- stood at minus 39.11
percent, way below BI's minimum requirement of 8 percent. --
Antara