The Year of the Snake in the Chinese calendar is coming. It’s time for Indonesia’s banking industry to consolidate. The Indonesian Bank Restructuring Agency (IBRA) has given ailing banks under its supervision until next year to meet the industry’s Capital Adequacy Ratio (CAR) or face being liquidated or forced to merge. No longer will IBRA recapitalize them as it did in 1998 to keep them afloat. Despite an injection of more tha