IBRA receives another $1.2b in bad loans from state banks
IBRA receives another $1.2b in bad loans from state banks
JAKARTA (JP): The Indonesian Bank Restructuring Agency (IBRA)
has recently received an additional Rp 8.5 trillion (US$1.2
billion) in nonperforming loans (NPLs) from three state banks.
The agency also expects to get another Rp 16.5 trillion in
nonperforming loans from state bank Bank Mandiri, according to
IBRA loan workout group leader Andreas A. Bunanta on Thursday.
Speaking in a news conference, Andreas said that the three
state banks were Bank Tabungan Negara (BTN), Bank Rakyat
Indonesia and Bank Negara Indonesia (BNI).
With the additional Rp 8.5 trillion of NPLs, IBRA now controls
a total of approximately Rp 115 trillion in bad loans from state
banks that must be restructured.
Andreas said that BRI transferred Rp 5.8 trillion of NPLs owed
by 23 debtors, BNI Rp 1.7 trillion owed by 41 debtors, and BTN Rp
984.6 billion owed by 25 debtors.
Among the bad debts recently transferred to IBRA were those
owed by companies in the textile and engineering Texmaco Group,
he said.
Some Rp 2.5 trillion of Texmaco debt owed to Bank BRI and Rp
500 billion owed to Bank BTN were transferred to IBRA, raising
the group's total NPLs under the agency's management to Rp 4.4
trillion.
Andreas said that none of the Texmaco loans from Bank BNI were
transferred to the agency.
Texmaco has recently been hit by charges that it owes
trillions of rupiah in bad loans to Bank BNI. The disbursement of
the loans to Texmaco allegedly involved former president Soeharto
and former Bank Indonesia governor Soedradjad Djiwandono.
Andreas said that the NPLs to be transferred from Bank Mandiri
were owed by 275 debtors.
Bank Mandiri is the largest state bank, resulting from the
merger of four state banks including Bank Dagang Negara, Bank
Bumi Daya, Bank Pembangunan Indonesia (Bapindo) and Bank Ekspor
Impor Indonesia.
IBRA currently controls over Rp 250 trillion in NPLs including
those from state banks, nationalized banks, closed banks and
recapitalized banks.
Andreas said that the loans from state banks were only those
falling under the category 5 loans, that is, non-performing loans
greater than Rp 5 billion each.
He said that NPLs below Rp 5 billion were being managed by
each state bank.
Andreas said that the agency had so far been able to
restructure some Rp 26 trillion of the Rp 250 trillion NPLs. He
said that this was the target set for the current fiscal year
ending in March.
IBRA has been criticized for being too slow in their efforts
to recover bad loans, most of which are owed by giant companies
belonging to influential people including the family of Soeharto.
The government officially installed Cacuk Sudarijanto on
Thursday as the new chairman of IBRA, replacing Glenn S. Jusuf.
Cacuk, who was previously deputy chairman of IBRA, said that
the government decided to dismiss Glenn partly because of the
agency's slowness in restructuring the bad loans. (rei)
JAKARTA (JP): The Indonesian Bank Restructuring Agency (IBRA)
has recently received an additional Rp 8.5 trillion (US$1.2
billion) in nonperforming loans (NPLs) from three state banks.
The agency also expects to get another Rp 16.5 trillion in
nonperforming loans from state bank Bank Mandiri, according to
IBRA loan workout group leader Andreas A. Bunanta on Thursday.
Speaking in a news conference, Andreas said that the three
state banks were Bank Tabungan Negara (BTN), Bank Rakyat
Indonesia and Bank Negara Indonesia (BNI).
With the additional Rp 8.5 trillion of NPLs, IBRA now controls
a total of approximately Rp 115 trillion in bad loans from state
banks that must be restructured.
Andreas said that BRI transferred Rp 5.8 trillion of NPLs owed
by 23 debtors, BNI Rp 1.7 trillion owed by 41 debtors, and BTN Rp
984.6 billion owed by 25 debtors.
Among the bad debts recently transferred to IBRA were those
owed by companies in the textile and engineering Texmaco Group,
he said.
Some Rp 2.5 trillion of Texmaco debt owed to Bank BRI and Rp
500 billion owed to Bank BTN were transferred to IBRA, raising
the group's total NPLs under the agency's management to Rp 4.4
trillion.
Andreas said that none of the Texmaco loans from Bank BNI were
transferred to the agency.
Texmaco has recently been hit by charges that it owes
trillions of rupiah in bad loans to Bank BNI. The disbursement of
the loans to Texmaco allegedly involved former president Soeharto
and former Bank Indonesia governor Soedradjad Djiwandono.
Andreas said that the NPLs to be transferred from Bank Mandiri
were owed by 275 debtors.
Bank Mandiri is the largest state bank, resulting from the
merger of four state banks including Bank Dagang Negara, Bank
Bumi Daya, Bank Pembangunan Indonesia (Bapindo) and Bank Ekspor
Impor Indonesia.
IBRA currently controls over Rp 250 trillion in NPLs including
those from state banks, nationalized banks, closed banks and
recapitalized banks.
Andreas said that the loans from state banks were only those
falling under the category 5 loans, that is, non-performing loans
greater than Rp 5 billion each.
He said that NPLs below Rp 5 billion were being managed by
each state bank.
Andreas said that the agency had so far been able to
restructure some Rp 26 trillion of the Rp 250 trillion NPLs. He
said that this was the target set for the current fiscal year
ending in March.
IBRA has been criticized for being too slow in their efforts
to recover bad loans, most of which are owed by giant companies
belonging to influential people including the family of Soeharto.
The government officially installed Cacuk Sudarijanto on
Thursday as the new chairman of IBRA, replacing Glenn S. Jusuf.
Cacuk, who was previously deputy chairman of IBRA, said that
the government decided to dismiss Glenn partly because of the
agency's slowness in restructuring the bad loans. (rei)