Bali Discovery Tours: Homepage
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Home Bali Contact Bali Practicalities Bali News Bali Services Bali Transportation Bali Sports Bali Excursions Bali Villas Bali Hotels
Home · News · Bank Dagang Bali Closed by Government
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Bali Hotels
Bali Villas
Special Deals!
Packages
MICE Handling
Bali Excursions
Culinary - Dining
Guided Tour
Bali Spas
Bali Sports
Diving
Golf
Bali Transportation
Car Rental - Selft Drive
Private Jet Charter
Bali News
Bali Services
Bali Practicalities
Bali Contact
Bali Career
Home
 
Bali Update
Subscribe to our free weekly newsletter!
 
PATA header
PATA Gold Award 2007
Bali Update
PATA Gold Award Winner 2007
 
Bali Contact
Bali Discovery Tours
Komplek Pertokoan
Sanur Raya No. 27
Jl. By Pass Ngurah Rai,
Sanur, Bali, Indonesia

Tel:
++62 361 286 283

Fax:
++62 361 286 284

U.S.A. Fax:(toll free)
1-800-506-8633

U.K. Fax:
++44-20-7000-1235

Australian Fax:
++61-2-94750419

24h:
++62 812 3819724

Bali Discovery

SITE PATA ASITA
Bali News

Bank Dagang Bali Closed by Government

Bali-Owned Bank Declared Insolvent by Bank Indonesia.


Bali News:
Click Image to Enlarge

(4/12/2004)

On Thursday, April 8, 2004, Bank Indonesia formally withdrew the operating licenses of PT Bank Dagang Bali (BDB) and PT Bank Asiatic. Both banks are now in the process of liquidation after having failed to meet minimal liquidity ratios and other requirements established by the Government.

According to Bank Indonesia officials, the closure of the two banks was the "final step" after the directors and shareholders of the two banks failed to heed official warnings to shore-up their ailing balance sheets. The owners and directors of the banks were reportedly asked by Bank Indonesia to increase the capitalization of the banks, enhance the quality of their productive assets, resolve various credit transactions deemed to be fictive in nature, and replace its current directors.

BDB's closure is apparently the final chapter in the banking saga of a local business legend, Mr. I Gusti Made Oka, who labored over 5 decades to create a bank that initially got its start via small personal loans made by Oka, then a local tailor, to business associates. When the son of BDB's Oka's, married the daughter of Mr. Tong Muk Keung, the Owner of PT Bank Asiatic, a series of financial transactions commenced between the two banks that eventually led to the official closure. BDB loaned funds to PT Bank Asiatic in the form of Negotiable Certificates of Deposit that exceeded the maximum amounts allowed in inter-bank loans.

Local press reports indicate that depositors at both banks will have their funds guaranteed under a special provisionary account set up for that purpose by Bank Indonesia. According to reports in the Indonesian-language Bisnis Indonesia the Government will have to meet obligations amounting to Rp. 2.39 trillion (approximately US$ 281.2 million).

BDB operates 31 offices employing 632 employees. Meanwhile, Bank Asiatic has only 150 employees working from 16 offices.


© Bali Discovery Tours. Articles may be quoted and reproduced if attributed to http://www.balidiscovery.com.

       

 
Bali News by Bali Update
Subscribe to the Bali Update
Receive the latest news from Bali by email!



Our [Privacy Statement] explains how we handle the data you are providing.

 
Bali News by Bali Update
Explore the Archive of the Bali Update
Find related articles in our news archive!




or try to use Google Search :

Home · Bali Hotels · Bali Villas · Bali Excursions · Bali Sports · Bali News · Site Map · RSS

Bali News: More News
Territorial Dispute
Three Online Taxi Drivers Beaten at Bali’s Ngurah Rai Airport
(4/23/2017)
Qatar Airways Three Times a Day to Bali
Qatar Airways Launching Third Daily Direct Service Between Doha and Bali
(4/23/2017)
Swinging for Charities
World Cup Charity Golf Tournament at New Kuta Golf Club Saturday, May 20, 2017
(4/23/2017)
Strong Start for Foreign Arrival Figures for 2017
Bali by the Numbers Foreign Tourist Arrivals to Bali Up 25.95% for January-February 2017. Mainland Chinese Visitors Take a Commanding Lead in Bali Tourism.
(4/23/2017)
What? Fore!
Yak Magazine Golf Community Cup – Saturday, April 29, 2017
(4/23/2017)
Statuary Reef
Underwater Monument Garden Erected at Tejakula, North Bali
(4/23/2017)
Bali: Just Too Many Rooms
GIPI Official Says Continuing Oversupply of Rooms Reduces Average Occupancy at Bali Hotels to 35%
(4/23/2017)
For Your Bali Shopping List
5 Things to Buy During a Bali Holiday
(4/23/2017)
Fugitive Criminal Seeking an Escape
Chinese Criminal Attempts Suicide While Awaiting Extradition to China
(4/23/2017)
Kartini Hangs Ten
Female Surfers in Bali Celebrate Kartini Day by Wearing Sarong Kebayas
(4/23/2017)
Telling Bali You’re the Best
TripAdvisor Travels to Bali to Bestow ‘Best Destination’ Award on the Island
(4/22/2017)
Keeping a Closer Eye of Foreign Visitors
Denpasar Cracking Down on Foreigners Not Following the Immigration and Manpower Regulations
(4/21/2017)
All [News]!