Bank Bankruptcies Triple in Indonesia as OJK Shuts Down 14 Institutions

Antara
August 6, 2024 | 9:41 am
SHARE
The Financial Services Authority (OJK)
The Financial Services Authority (OJK)

Jakarta. The Financial Services Authority (OJK) has revoked the business licenses of 14 banks in Indonesia since early 2024 due to financial collapse.

"In 2014, 14 banks in Indonesia collapsed and had their business licenses revoked. These banks were rural banks (BPR)," said Dian Ediana Rae, OJK's Executive Head of Banking Supervision, on Monday.

The number of bank bankruptcies this year has more than tripled compared to last year. In 2023, only four banks went bankrupt in Indonesia.

On average, seven to eight banks go bankrupt each year in Indonesia due to mismanagement. Since 2005, a total of 136 banks have gone bankrupt to date. 

Advertisement

Almost all of the banks that went bankrupt were BPR. Here is a list of the bankrupt banks as of July 2024:

  1. BPR Sumber Artha Waru Agung
  2. BPR Lubuk Raya Mandiri
  3. BPR Bank Jepara Artha
  4. BPR Dananta
  5. BPRS Saka Dana Mulia
  6. BPR Bali Artha Anugrah
  7. BPR Sembilan Mutiara
  8. BPR Aceh Utara
  9. BPR EDCCASH
  10. BPR Bank Purworejo
  11. BPR Madani Karya Mulia
  12. BPRS Mojo Artho Kota Mojokerto
  13. BPR Bank Pasar Bhakti
  14. BPR Wijaya Kusuma

Tags: Keywords:
SHARE

The Latest


News 4 hours ago

Justice Department Uncovers Iranian Plot to Assassinate Trump, Arrests Made

The Justice Department on Friday revealed criminal charges in an Iranian murder-for-hire plot targeting Donald Trump
Business 4 hours ago

Indonesia Extends Tax Holiday to 2025: A Guide for Investors

The government has officially extended the tax holiday facility until December 31, 2025
Lifestyle 5 hours ago

Visa on Arrival Extensions in Indonesia Now Require Immigration Verification: What You Need to Know

Foreign nationals seeking an extension for their Visa on Arrival (VoA) will now need to undergo verification by the immigration office
Lifestyle 5 hours ago

Dua Lipa "Heartbroken" as Jakarta Concert Is Cancelled at the Last Minute

Dua Lipa’s much-anticipated concert in Jakarta, part of her Radical Optimism tour, has been canceled due to safety and logistical issues.
News 8 hours ago

West Jakarta Police Arrest Eight in Online Gambling Operation Tied to Cambodian Network

West Jakarta Police raided a home in West Jakarta, dismantling an operation allegedly tied to a Cambodian online gambling network.
COPYRIGHT © 2024 JAKARTA GLOBE. ALL RIGHTS RESERVED