The public information ('pi') rating on BDNI
reflects the risks inherent in rapid asset growth and the bank's heavy reliance on short-term time deposits and borrowings.
The shareholders who signed this type of agreement were Syamsul Nursalim of BDNI
, Mohamad Hasan of BUN, Sudwikatmono of Bank Surya, Soedono Salim of BCA, and Ibrahim Risyad of Bank RSI.
The first is a BTO bank which has repaid its entire debt namely BCA, the second are those not violating the lending limit regulation (BMPK) but were in problem because of a run on bank namely Bank Tiara and PDFCI; the third is a BTO bank not yet repaying its entire BLBI debt namely Bank Danamon; fourth are BTO banks which have repaid their entire BLBI debts namely Bank Surya and BDNI, the fifth is a BBO not violating BMPK but in problem only because of a run on bank namely Bank Subentra and the sixth are BBO banks not yet repaying their BLBI debt namely Bank Modern, Hokindo, Deka, Centris, BUN, Istismarat and Pelita.
The finance minister has announced that the government in this case the Financial Sector Action Committee (FSAC) has reached an agreement with the Salim Group that owned BCA, Gajah Tunggal Group that owned BDNI and Sudwikatmono who owned Bank Surya on the combination of cash and shares as a payment for the BLBI.
BCA, Bank Danamon, and BDNI
have received the largest amounts of BLBI among all problem banks.
BDNI and Bank Modem even failed to organize a shareholders' meeting previously scheduled in June, 1998.
For example, BDNI has used part of the liquidity credit to finance the projects owned by its sister companies in the Gajah Tunggal Group.
is known to be a top level bank with assets amounting to Rp 23.
But three of the four banks - BDNI
, Tiara and Dewa Rutji - have been put under the management of BPPN, resulting in the failure of the merger plan.
The cancellation was announced following the government's announcement of the takeover of the management of BDNI
and Bank Tiara on April 4, 1998.
Individually, BII ranks first in terms of income and net profit, while BDNI
ranks first in term of the highest growth rate.
The consortium of banks which supports TPN's national car project --which is located in Cikampek, West Java-- is composed of 4 state-owned banks (BNI, Bank ExAm, BRI, and BDN) and 12 private banks (BCA, Danamon, BDNI
, PDFCI, Panin, BII, Bank Bali, Bank Niaga, Bank Duta, Bank Lippo, BUN, and Bukopin).