Lippo Bank

Lippo Bank is Indonesia's 9th largest bank in Indonesia by the number of the assets. It is controlled by ethnic Chinese Mochtar Riady together with the Lippo Group. Indonesia sold the stake in Bank Lippo as part of asset disposals aimed at cutting the government's budget deficit and recouping the 450 trillion rupiah it spent to bail out banks after the 1997 Asian financial crisis. Swissasia Global bought 52.1 percent of Bank Lippo in February 2004 from the Indonesian Bank Restructuring Agency for $142 million. The agency took control of Bank Lippo from its previous owners, the Riady family, after the government injected funds into the lender in 1999 to boost capital. The family still holds a minority stake, partly through PT Lippo E-Net, which owns 5.6% of the lender. Despite their minority holding, the Riady's retain controlling rights.

On 26 August 2005, the shareholders of the bank and Bank Indonesia have approved the sales of the 52.05% controlling stake held by Swissasia Global to Santubong Investment B.V which was wholly owned by Khazanah Nasional Berhad, the investment arm of the Malaysian federal government. The sales took effect on 30 September the same year.^[1][2]

Because of Khazanah, the holding company of CIMB Group, has an 86.52-percent stake in Lippo Bank through Santubong Investment BV, while CIMB Group itself owns 62 percent of Bank Niaga`s shares through its subsidiary, Bumiputra-Commerce Holdings^[3], Bank Niaga and Lippo Bank have to be merged. On 1 November 2008, Lippo Bank officially merged to Bank CIMB Niaga (former Bank Niaga).^[4]

The bank's United States subsidiary was implicated in the scandal of improper contributions to the Clinton-Gore Campaign. According to a 1998 Senate Governmental Affairs Committee report, by 1992, while employed by Lippo Bank in California, John "Huang began to raise illegal foreign money for the DNC through Lippo-owned shell companies ... " This money, which wound up in Democratic coffers, was ultimately traced to the "greater China region."

"Huang's colleagues at Lippo Bank . . . never understood his corporate duties and described him as a `mystery man,' " the report said.

The History of Bank DANAMON

PT Bank Danamon Indonesia Tbk was established in 1956 under the name of PT Bank Kopra Indonesia, in 1976, the Bank's name was changed to the present name, Bank Danamon Indonesia. The Bank became the first Indonesian private foreign exchange bank in 1976 and a publicly listed bank in 1989.

In 1977, as a result of the Asian financial crisis, Bank Danamon ran into liquidity insolvency and was placed under the supervision of the Indonesian Bank Restructuring Agency (IBRA) as a BTO (taken over) bank. In 1999, the government of Indonesia, thought IBRA, recapitalized the Bank with Rp 32 trillion of government bonds. Within the same year, another BTO bank was merger into Bank Danamon as part of the restructuring programme of IBRA.

In 2000, Bank Danamon took under its wings eight other BTO banks. As the surviving entity, Bank Danamon emerged from the merger as one of the pillar banks of Indonesia.

During the next three years, Bank Danamon underwent extensive restructuring involving management, people, organization, systems, core values and corporate identity. The efforts succeeded in laying down new foundations and infrastructure for the Bank to pursue growth based on transparency, responsibility, integrity and professionalism (TRIP).

In 2003, Bank Danamon was acquired by the Asia Finance Indonesia consortium which took a majority controlling stake in the Bank. With new management at the helm, and 180-day remapping of its business model and strategy, Bank Danamon continues to undergo a transformational change designed to mold it into a leading national bank and a key regional player.

Source : http://www.danamon.co.id/content_a.php?nmCat=sekilas&lng=2

About BCA

BCA was officially founded on 21 February 1957 with the name of Bank Central Asia NV.
Many things have passed by since the establishment, and perhaps the most significant is the monetary crisis that occurred in 1997.

This crisis brought a remarkable impact on the overall banking system in Indonesia. However, specifically, these conditions affect the cash flow of funds in the BCA and even had to threaten birthday. Many customers panic and roll their funds. As a result, banks are forced to ask for assistance from the government. National Bank Agency (BPPN) then took over BCA in 1998.

Owing to the business and policy decision-making wise, BCA successfully restored in the same year. In December 1998, the funds have been three parties to return to the level before the crisis. BCA assets reached Rp 67.93 trillion, while in December 1997 only Rp 53.36 trillion. Public confidence in the BCA has fully recovered, and the BCA BPPN to be submitted by Bank Indonesia in 2000.

Furthermore, the BCA to take big steps to become a public company. Quoting Prime Shares held in 2000, by selling shares of 22.55%, which comes from divestasi BPPN. After the Prime Stock Quotes, BPPN still control 70.30% of all shares BCA. Bidding to two shares held in June and July 2001, with BPPN mendivestasikan 10% of the shares it owns in the BCA.

In 2002, IBRA release 51% of the shares in the tender BCA through a strategic private placement. Farindo Investments, Ltd.., Based in Mauritius, won the tender. Currently, the BCA continues to strengthen its tradition of good corporate governance, in full compliance regulations, risk management and commitment to its customers in the bank as well as transactional and financial intermediary institutions.