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I B R A 3 rd  Forum on Asian Insolvency Reform (FAIR) Seoul, Korea, 10-11 November 2003 The Indonesian Bank Restructuring ...
Agenda  : Overview Performance to Date Plans for Going Forward Economic Crisis and Banking Sector Vision & Mission IBRA's ...
<ul><li>Economic Crisis and Banking Sector </li></ul><ul><li>Vision & Mission </li></ul><ul><li>IBRA's Scheme </li></ul>Ov...
Economic   Crisis: started with drastic devaluation of Rupiah, followed by banking and economic crisis <ul><li>In mid 1997...
Bank Restructuring and Divestment <ul><li>Consolidate, restructure, and divest IBRA administered banks. </li></ul><ul><li>...
IBRA's Scheme  I B R A FAILED BANK &quot;Non IBRA Affairs&quot; &quot;IBRA Affairs&quot; <ul><li>Shareholder Settlement </...
Overview Plans for Going Forward Performance to Date <ul><li>Indonesian Macro Economic Indicators </li></ul><ul><li>Indone...
… .inflation rate is decreasing significantly after 1997 economic crisis ...  …  while  exchange rate is stabilizing conti...
Indonesian Banking Landscape Pre and Post Crisis Massive bank runs and loan defaults  forced closure of commercial banks *...
Banks Indicators under IBRA … ..in general, banks performance have been improving, especially on CAR, NPL and LDR.... Note...
Bank Restructuring Unit Divestment of IBRA’s Bank Shares … ..The divestment of IBRA’s majority bank shares at BCA, Niaga B...
Core Asset by type of obligor
Core Asset by Line of Business
Asset Management Credit (IDR. Trillion) CLS : Corporate Loan Sale  CCAS : Corp. Core Asset Sale  CULS : Corp. Unrestructur...
Equity Divestiture Asset Management Investment
Contribution to Fiscal Support Since FY 1999/2000 ‘til 2002 IBRA always able to meet its fiscal target ... …  FY 2000 (9-m...
Overview Plans for Going Forward Performance to Date <ul><li>Economics Policy Package after IMF Termination  </li></ul><ul...
Economic Policy Package after IMF Termination IBRA’s Tasks  Financial Safety Net The Establishment of Deposit Insurance Ag...
Recently Closed Transactions  <ul><li>Loan Asset Disposal Program (PPAK 4) 26 Sept  </li></ul><ul><li>Block Sale 20% of  B...
June July Aug Sept Oct Nov Dec Jan Feb 2004 Timeline of Remaining Disposal Programs in 2003  51% share divestment of Bank ...
The offered assets in  Investment Asset Disposal Program Phase 3 (‘PPAI 3) are mostly Shares,Convertible Bond, Receivables...
IBRA plans to dispose its 52.04% stake in Bank Lippo via strategic sale and 71% of its shares in BII via strategic sale (5...
Ongoing Joint Venture Program for Property IBRA plans to dispose its property assets in several main locations in Jakarta ...
Bank Restructuring Asset Settlement Recovery of State Funds Administration of  Deposit Insurance Program <ul><li>No more R...
Flow of  IBRA's Remaining Assets Type of Asset Divestment  Program Remaining Assets  Management  Plan Real/Fixed  Asset Fi...
http://www.bppn.go.id I B R A The Indonesian Bank Restructuring Agency For further information please visit our website :
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  • Berdasarkan tiga indikator bank (CAR, NPL dan LDR) menunjukan pada akhir tahun 2002 bank-bank rekap di bawah kelolaan BPPN menunjukkan kinerja yang sehat dan rata-rata terus mengalami perbaikan. Memang saat ini penerimaan bunga dari bank-bank rekap sebagian berasal dari Obligasi rekapitalisasi, namun sejauh ini bank-bank tersebut terus meningkatkan penerimaannya dari kredit kepada pihak ketiga, hal ini terlihat dengan adanya peningkatan LDR (meskipun belum maksimal) dari Bank-bank tersebut. Usaha ini juga sekaligus secara bertahap menurunkan ketergantungan pendapatan bank dari Obligasi rekapitalisasi.
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    1. 1. I B R A 3 rd Forum on Asian Insolvency Reform (FAIR) Seoul, Korea, 10-11 November 2003 The Indonesian Bank Restructuring Agency
    2. 2. Agenda : Overview Performance to Date Plans for Going Forward Economic Crisis and Banking Sector Vision & Mission IBRA's Scheme Macro Economic Indicators Indonesian Banking Landscape Pre and Post Crisis Bank Restructuring Unit (BRU) Asset Management Credit (AMC) Asset Management Investment (AMI) Contribution to Fiscal Support Economics Policy Package after IMF Termination Recently Closed Transactions Timeline of Remaining Disposal Programs in 2003 Lippo Bank & BII Disposal Plan Investment Asset Disposal Program (PPAI 3) Closure of IBRA
    3. 3. <ul><li>Economic Crisis and Banking Sector </li></ul><ul><li>Vision & Mission </li></ul><ul><li>IBRA's Scheme </li></ul>Overview Plans for Going Forward Performance to Date
    4. 4. Economic Crisis: started with drastic devaluation of Rupiah, followed by banking and economic crisis <ul><li>In mid 1997 Rupiah drastically depreciated following the depreciation of regional currencies </li></ul><ul><li>Rupiah depreciation led to liquidity crisis and in turn banking crisis </li></ul><ul><li>Banking crisis led to Bank Run (Rush) </li></ul>Government Response <ul><li>In order to install trust in the banking system, the government issued blanket guarantee program </li></ul><ul><li>In order to prevent capital flight, very high interest policy was put in place that led to the collapsed of the real sector </li></ul><ul><li>Lender of the last resort function of The Central Bank was executed </li></ul><ul><li>IBRA was established in January 1998 </li></ul>Economic Crisis and Banking Sector
    5. 5. Bank Restructuring and Divestment <ul><li>Consolidate, restructure, and divest IBRA administered banks. </li></ul><ul><li>Support Government in preparation for the establishment of Financial Services Authority and Deposit Insurance Corporation . </li></ul>Loan Restructuring and Disposal <ul><li>Conduct Loan Assets Sales Program (PPAK). </li></ul><ul><li>Finalize ATK administration problem. </li></ul><ul><li>Accelerate restructuring and follow up litigation cases. </li></ul><ul><li>HoldCos establishment process and/or asset securitization process. </li></ul>Shareholder Asset Settlement <ul><li>Shareholder settlement of frozen banks, closed banks and taken over banks (BBO, BBKU, BTO). </li></ul><ul><li>Former shareholders assets possession by IBRA </li></ul><ul><li>Continue asset sales of former shareholders. </li></ul>IBRA Vision To build a strong Government Agency in supporting the Indonesian economic recovery IBRA Mission To promote economic recovery through banking sector and corporate debt restructuring and to optimize the recovery of government funds in order to alleviate the burden of the recapitalization bonds on the Government budget
    6. 6. IBRA's Scheme I B R A FAILED BANK &quot;Non IBRA Affairs&quot; &quot;IBRA Affairs&quot; <ul><li>Shareholder Settlement </li></ul><ul><li>Investment </li></ul>AMI <ul><li>Bank Shares Divestment </li></ul><ul><li>Interbank </li></ul>BRU <ul><li>NPL </li></ul><ul><li>Non Core Asset </li></ul>AMC Non Performing Loan Bank Shares Recap Bonds Rp. 425.5 T Guarantee Rp. 73.8 T BI Liquidity Assistance Rp. 144.5 T Shareholder Settlement Program Rp. 130.72 T Rp. 123.34 T Rp. 361.19 T MoF Advancement Rp. 4.9 T Marketable Securities Treasury Rp. 13.50 T Notes : as of August 2003 (Finance Accounting) <ul><li>NPL </li></ul>Litigation Rp. 65.81 T
    7. 7. Overview Plans for Going Forward Performance to Date <ul><li>Indonesian Macro Economic Indicators </li></ul><ul><li>Indonesian Banking Landscape Pre & Post Crisis </li></ul><ul><li>Bank Restructuring Unit (BRU) </li></ul><ul><li>Asset Management Credit (AMC) </li></ul><ul><li>Asset Management Investment (AMI) </li></ul><ul><li>Contribution to Fiscal Support </li></ul>
    8. 8. … .inflation rate is decreasing significantly after 1997 economic crisis ... … while exchange rate is stabilizing continuously … short term interest rate is steadily declining ... Indonesian Macro Economic Indicators … interest rate spread is moving from negative during the crisis to positive spread ... Source: Bank Indonesia
    9. 9. Indonesian Banking Landscape Pre and Post Crisis Massive bank runs and loan defaults forced closure of commercial banks *Almost half of private domestic banks were either closed or taken over by the government 72 banks failed, then administered by IBRA 160 44 34 40 43 81* 238 72 15 52 2 3 The Commercial Banks in Indonesia Number of banks Banks under IBRA Number of banks 1997 Failed Banks Closed Recap & Merged to Danamon and PermataBank <ul><li>BCA </li></ul><ul><li>Niaga </li></ul>Recap- italized 164 57 46 1999 2000 JV and foreign Public domestic Private domestic 151 38 10 JV Foreign
    10. 10. Banks Indicators under IBRA … ..in general, banks performance have been improving, especially on CAR, NPL and LDR.... Note : - June 2003 figures are unaudited report Bank Restructuring Unit After BCA, Bank Niaga in April and November 2002, and Bank Danamon in July 2003, IBRA is currently proceeding with divestment of Bank Lippo and Bank Internasional Indonesia.
    11. 11. Bank Restructuring Unit Divestment of IBRA’s Bank Shares … ..The divestment of IBRA’s majority bank shares at BCA, Niaga Bank and Danamon Bank to Strategic Investor was mainly intended for continuous improvement of those Banks’ performance
    12. 12. Core Asset by type of obligor
    13. 13. Core Asset by Line of Business
    14. 14. Asset Management Credit (IDR. Trillion) CLS : Corporate Loan Sale CCAS : Corp. Core Asset Sale CULS : Corp. Unrestructured Loan Sale Loan Disposal PPAK : Loan Asset Disposal Program PPAK - PPL : Loan Asset Disposal Prog. - Direct Selling Program P3AK : Loan Asset Portfolio Disposal Program PPAS : Strategic Asset Disposal Program
    15. 15. Equity Divestiture Asset Management Investment
    16. 16. Contribution to Fiscal Support Since FY 1999/2000 ‘til 2002 IBRA always able to meet its fiscal target ... … FY 2000 (9-mo), 2001 and 2002 IBRA even surpassed the target Note : IBRA’s achievement in 2003 is per Sept 2003
    17. 17. Overview Plans for Going Forward Performance to Date <ul><li>Economics Policy Package after IMF Termination </li></ul><ul><li>Recently Closed Transactions </li></ul><ul><li>Timeline of Remaining Disposal Programs in 2003 </li></ul><ul><li>Lippo Bank & BII Disposal Plan </li></ul><ul><li>Investment Asset Disposal Program (PPAI 3) </li></ul><ul><li>Closure of IBRA </li></ul>
    18. 18. Economic Policy Package after IMF Termination IBRA’s Tasks Financial Safety Net The Establishment of Deposit Insurance Agency (LPS) <ul><li>Bank Divestment & Other Asset Disposal Programs </li></ul><ul><li>Divestment of IBRA's Majority Bank Shares </li></ul><ul><li>Divestment of Credit Assets, Equity and Quasi Equity (PPAS & PPAK) </li></ul><ul><li>Divestment of Property Assets (PPAP) </li></ul><ul><li>Divestment of Share Holder’s Assets (PPAI) </li></ul>
    19. 19. Recently Closed Transactions <ul><li>Loan Asset Disposal Program (PPAK 4) 26 Sept </li></ul><ul><li>Block Sale 20% of Bank Niaga shares 16 Sept </li></ul><ul><li>Strategic Asset Sale Program (PPAS) 2 19 Sept </li></ul><ul><li>Investment Asset Sales Program (PPAI) 3 Batch 1 24 Sept </li></ul><ul><li>Treasury Asset (PPSBM) 3 17 Sept </li></ul>
    20. 20. June July Aug Sept Oct Nov Dec Jan Feb 2004 Timeline of Remaining Disposal Programs in 2003 51% share divestment of Bank Lippo Conclude all remaining transactions & prepare for IBRA closure 51% share divestment of Bank BII Investment Asset Sales Program 3 (Batch 2 : Share & Receivable) Property Asset Sales Program 4 (Batch 1 - Batch 5) Ongoing JV Property
    21. 21. The offered assets in Investment Asset Disposal Program Phase 3 (‘PPAI 3) are mostly Shares,Convertible Bond, Receivables in companies and Properties directly or indirectly owned by IBRA Investment Asset Disposal Program (PPAI 3) Assets Offered on PPAI 3 Batch 2
    22. 22. IBRA plans to dispose its 52.04% stake in Bank Lippo via strategic sale and 71% of its shares in BII via strategic sale (51%) and market placement (20%) Bank’s Shares Disposal Program <ul><li>Strong in trade financing and consumer banking (card business) </li></ul><ul><ul><li>BII is one of the leading credit card operator in Indonesia (currently aggregates to over 450.000 and controls 30% of market share) and is well positioned to become one of the leading domestic consumer banking franchise (customer base in excess of 2 million) </li></ul></ul><ul><li>The best funding structure in the industry. Its low-cost fund (checking and saving accounts) comprised 70% of its total funding, compared to the industry average at 40% </li></ul><ul><ul><li>Bank Lippo enjoyed low-cost of fund from its checking and saving accounts. </li></ul></ul><ul><ul><li>One of the leading ATM service providers in Indonesia with a network of over 600 ATMs </li></ul></ul>
    23. 23. Ongoing Joint Venture Program for Property IBRA plans to dispose its property assets in several main locations in Jakarta and Surabaya via Joint Venture program, during October 2003 - January 2004
    24. 24. Bank Restructuring Asset Settlement Recovery of State Funds Administration of Deposit Insurance Program <ul><li>No more Recapitalization Program </li></ul><ul><li>Most of the Bank Divestment Programs are Completed. </li></ul><ul><li>Minority Ownership at banks </li></ul><ul><li>50% of Asset has been Restructured </li></ul><ul><li>The Remaining Assets still 20% </li></ul>Accumulated Contribution (Cash & Bond) is IDR 140 trillion <ul><li>No More Banks Closed for the last two years </li></ul><ul><li>No More New Claims </li></ul>Establishment of Holding Companies to Manage Remaining Assets of IBRA Establishment of Deposit Insurance Agency IBRA'S Task Achievement Near Future Plan IBRA's Task Achievement and Future Plan Closure of IBRA
    25. 25. Flow of IBRA's Remaining Assets Type of Asset Divestment Program Remaining Assets Management Plan Real/Fixed Asset Financial Asset: Loan, Equity & Quasi equity Bank Shares Property Asset Sales Program Loan Assets Sales Program, Investment Assets Sales Program & Strategic Assets Sales Program Bank Divestment Holdco Property Holdco- Non Property- Loan Assets Holdco-Non Property- equity Property Assets Property Compaies Equity Loan Equity , Quasi Equity Remaining Bank Share Closure of IBRA
    26. 26. http://www.bppn.go.id I B R A The Indonesian Bank Restructuring Agency For further information please visit our website :
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