'Infobank' ranks Bank Tiara as most sound bank

'Infobank' ranks Bank Tiara as most sound bank

JAKARTA (JP): Publicly-listed Bank Tiara was ranked by
Infobank magazine as one of the soundest large banks in the
country.

Bank DKI and Bank Dharmala took the second and third slots,
followed by the branch office of Bank of Tokyo in the fourth,
Bank Mashill in the fifth and Bank Bira in the sixth, the monthly
announced yesterday.

Bank Panin, Bank Surya and the branch of office of Citibank
and Bank Bali were respectively ranked seventh, eighth, ninth and
10th in the category of banks with assets of more than Rp 1
trillion.

State-owned banks received lower rankings. Bank Tabungan
Negara came in 19th, Bank Negara Indonesia (BNI) 1946 in 32nd,
Bank Rakyat Indonesia in 44th, Bank Bumi Daya in 52nd and Bank
Pembangunan Indonesia (Bapindo) in 54th.

Eko Budi Supriyanto, the managing director of the monthly
banking magazine said that the rankings were based on the
assets, capital and profit margins in the banks' 1994/95
financial reports.

He said that the assessment covered the country's 240 banks --
including joint venture banks and branches of foreign banks,
which were divided into three categories.

The first group contained 54 banks with assets of above Rp 1
trillion, the second consisting of 37 banks with assets between
Rp 500 billion and Rp 1 trillion and the third was comprised of
149 banks with assets of less than Rp 500 billion.

The magazine based its assessment on the performances of
banks' Capital Asset Ratio (CAR), Net Interest Margin (NIM),
Return on Asset (ROA), Return on Equity (ROE) and Loan to Deposit
Ratio (LDR). It ranked the 10 best listed banks as well, Eko
said.

Bank Rama and Daiwa Perdania took the first and second slots
on the top-ten list of banks with assets of between Rp 500
billion and Rp 1 trillion.

Bank NISP, United Overseas Bank Bali, Bank Prima Express, Bank
Putera Surya Perkassa, Bank Tokai Lippo, Bank Credit Lyonnais
Indonesia, LTCB Central Asia and BPD Sumatra Utara took the third
to 10th ranks.

Bank MAS, Bank Hanil Tamara and BPD Kaltim won the first,
second and third slots of the 10 best banks with assets less than
Rp 500 billion.

Bank Liman International, Bank Hokindo, Bank Jasa Jakarta,
Bank Rahardja Makmur, ANZ Panin Bank, the branch office of
Bangkok Bank and Bank Bintang Manunggal took fourth to 10th
place, respectively.

Bank Tiara took the first slot in the 10 best listed banks,
followed by Bank Rama in second, Bank Mashill in third, Bank NISP
in fourth and Bank Bira in fifth.

Bank Panin was ranked sixth in the category, while Bank Surya,
Bank Bali, Bank Internasional Indonesia and Bank Modern took the
seventh to 10th places.

Hartojo Wignjowijoto said that the magazine's 10 top bank
rankings were quite fair given the absence of sponsorship in the
rating activities.

He said, however, that the ratings, which were based only on
written financial reports, did not completely reflect the banks'
performances.

"Unwritten reports are often more important than the published
data but unfortunately the magazine's survey did not cover such
hidden information," he said.

The magazine also reported that 20 banks delayed in submitting
their 1995 financial reports to Bank Indonesia, the central bank,

"The delay may have been because those 20 banks were suffering
problems," he said. "Some of them have received technical
assistance from larger banks."

The 20 banks are Bank Yama, Bank Dewata, Bank Intan, Bank
Dwima Sejahtera, Bank Asta, Bank Pelita, Bank Artha Prima, Bank
Pacific, Bank Mega, Agrobank, state-owned Bank Bumi Daya, Bank
Dana Asia, Bank Umum Majapajit Jaya, BPD Maluku, Bank Pinaesaan,
Bank Anrico, Bank Uppindo, state-owned Bapindo, Bank Industri and
the Korea Commercial Bank Surya. (hen)