Weekly Business

Two Banks Closed

LAST week Bank Indonesia suddenly announced the closure of two banks: PT Bank Asiatic in Jakarta and PT Bank Dagang Bali in Denpasar. Their licenses were revoked because of their extremely grave condition as evidenced in low capital adequacy ratios and exceeding the legal lending limit.

According to BI Senior Deputy Governor, Anwar Nasution, the two banks had long been under the central bank's guidance. However, until now t

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