REPUBLIKA.CO.ID, JAKARTA - Vice Chairman of Board of Mandate Party (PAN), Dradjad Wibowo assessed that the second fund injection to Bank Mutiara (ex-Century) would cause state loss worth 4.1 trillion IDR. He never saw previously that the bank was difficult to be sold, even with its half value. The difficulty is higher because the bank has very high political risk.
"Every policy and business decision against Bank Mutiara is wrong," Wibowo said on Saturday.
He doubted, the bank, with good financial report, was not interested by business market. Now, Bank Mutiara asked Deposit Insurance Agency (LPS) to give the second fund of injection. It means the bank difficult to increase its business performance. Bank Mutiara is still burdened by high political risk.
As result, its Capital Adequacy Ratio (CAR) declined though it was still above eight percent. Wibowo asked LPS not to throw the responsibility to Bank Indonesia (BI) as regulator. BI asked all banks in Indonesia to increase their capitals to Basel III level. With this regulation, Bank Mutiara has to increase its CAR, from eight percent to 14 percent.
Wibowo asked government to overcome legal and political issues against Bank Mutiara. It will reduce the risk, so the bank can do its business normally. If this second fund injection is still conducted by LPS, Bank Mutiara will be more impossible to be sold. If it is sold, the country will loss 4.1 trillion IDR or half of total capital injection to Bank Mutiara.
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