Return the Surplus, Please

Bank Lippo is suspected of enjoying a staggering Rp1.27 trillion in surplus recapitalization funds. IBRA's silence is making other banks green-eyed.

May 15, 2001

During the past number of days, national bankers seem to have been furtively whispering. Are they discussing bank merger plans? No, they've grown weary of something so uncertain. They're talking about a rumor that Bank Lippo has retained a surplus of recapitalized funds. The source of the rumor was a photocopy of letters from two former heads of the Indonesian Bank Restructuring Agency (IBRA) to the Bank's board of directors. It's quickly making...

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