Mandiri Incurs Tax Debts

The tax debts owed by Bank Mandiri since 1998 have been unveiled. The total is huge: Rp11.8 trillion. Unless promptly settled, Bank Mandiris capital adequacy ratio (CAR) will drop to below 5 percent, and this largest bank in Indonesia may fail in its plan to be listed on the Jakarta Stock Exchange. The debts arose after Mandiri surrendered non-performing loans worth Rp175 trillion to the Indonesian Bank Restructuring Agenc