LPS Pays Out IDR 25.65 Billion to 1,994 Customers of BPR Kamadana After Licence Revocation
The Indonesian Deposit Insurance Corporation (LPS) has made the first phase of claim payments for deposits at Bank Perekonomian Rakyat (BPR) Kamadana, amounting to IDR 25.65 billion. This payment was made to 1,994 out of a total of 2,973 customers, or approximately 79.44%, covering 2,362 accounts.
The Head of the LPS II Surabaya Representative Office, Bambang S. Hidayat, stated that claim payments are made within a maximum of five working days after the reconciliation and verification (rekonver) process is completed. Deposits eligible for payment must meet several requirements, including being recorded in the bank’s books, having interest rates that do not exceed the LPS’s guaranteed interest rate, and not being linked to banking fraud.
“No deductions are made. We pay the principal plus the interest,” explained Bambang during an LPS Media Gathering in Sanur, Bali, on Tuesday (24/2/2026).
The deadline for the rekonver process is 90 working days after the revocation of the business licence, specifically on July 10, 2026. However, the deadline for submitting deposit claims is up to five years from the revocation of the business licence, which is February 17, 2031.
“We usually partner with nearby commercial banks to facilitate the process. Customers can simply go to the bank, and the bank will verify the claims as usual. In the case of Kamadana, payments are made at the BNI KCP Kintamani branch on Jalan Raya Penelokan and the BNI KCP Bypass Ngurah Rai branch in Badung,” said Bambang.
Responding to the case of a bank’s liquidity issues leading to the revocation of its business licence by the LPS, Bambang stated that this is the first time in his ten-year career that he has encountered a bank closure in Bali. He emphasized that the public should not panic and should continue to trust other healthy banks to manage their deposits.
“Banks are business entities, and there are always risks. Don’t panic; if a bank closes, there are other healthy banks that will ensure the intermediation function continues. In addition, you can check the condition of your deposits on the LPS website,” Bambang concluded.
Previously, the Financial Services Authority (OJK) revoked the business licence of PT BPR Kamadana, located on Jalan Raya Batur Kintamani, Batur Utara, Kintamani, Bangli, after finding evidence of fraud. This decision is outlined in the Decision of the OJK Board of Commissioners Number KEP-14/D.03/2026 dated February 18, 2026.
The Head of the OJK Bali Province, Kristrianti Puji Rahayu, explained that the OJK found integrity and governance issues at PT BPR Kamadana.
“These issues include fraud and actions that disregard the application of prudence principles and sound lending principles, as well as violations of banking regulations,” she said in an official statement on Thursday (19/2/2026).
Since these issues were detected, the OJK has increased the intensity of supervision, provided guidance, and imposed administrative sanctions. However, until the set deadline, the condition of the BPR had not shown improvement.
On December 18, 2024, the supervisory status of PT BPR Kamadana was designated as a Bank Under Special Supervision (BDP) because it had a Capital Adequacy Ratio (CAR) of less than 12% and a Health Level (TKS) with a “Unhealthy” predicate.