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BANK INDONESIA FREEZES UNIBANK.
Jakarta, Oct 29 (ANTARA) - Bank Indonesia (the central bank) on Monday froze the operations of privately-owned Unibank bank, citing the latter's deteriorating performance, including the swelling of its non-performing loans to 51 percent of its total assets.
"Effective Oct 29, Unibank has been declared a frozen bank and its case referred to the Indonesian Bank Restructuring Agency (IBRA)," Bank Indonesia Senior Deputy Governor Anwar Nasution announced .
He maintained that since 1998 Bank Indonesia had been making "every possble" effort to save the bank, including replacing its board of directors, injecting capital and suspending some of its activities …
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