CIC placed in Category A

JAKARTA (JP): Publicly-listed Bank Century Intervest Corporation (CIC) falls into Category "A" under the government's banking restructuring program, the bank has said.

"Category "A" status gives us the ability to make the most of the current situation," CIC president Robert Tantular has said in a statement.

This categorization follows the recent audit conducted by foreign auditors in relation to the government's program of restructuring the ailing domestic banking sector.

Banks with a ratio of equity to risk-weighted assets falling above four percent are placed in Category "A", being considered sound.

While banks with a ratio of between four percent and minus 25 percent are to join the government recapitalization program. And those banks with a ratio below minus 25 percent face a risk of being liquidated.

CIC also plans to increase its capital base to 10 percent through a rights issue, to make the bank stronger and able to take any opportunities during the ongoing banking sector restructuring program. (02)