JAKARTA - The Financial Services Authority (FSA) as the regulatory and supervisory authority of financial services institutions, on Tuesday revoked the business license of PT Bank Perkreditan Rakyat Sekar located at Ruko Pasar Central ES C-27, Cikarang Selatan, Bekasi Regency, West Java.
Revocation of PT Bank Perkreditan Rakyat Sekar's business license is issued through Decision of Members of the Board of Commissioners (KADK) Number KEP-38 / D.03 / 2020 concerning Revocation of PT Bank Perkreditan Rakyat Sekar's Business License, starting from March 17, 2020.
BPR Sekar's financial condition worsened due to lending disregarding the principle of prudence and the fulfillment of sound banking principles. Since 8 November 2019, BPR Sekar Cikarang Bekasi has been determined as a BPR under Special Supervision (BDPK) because the Minimum Capital Adequacy Ratio (KPMM) which is less than 4% and the health level is classified as Unhealthy. BDPK status is determined with the aim that the Management / Controlling Shareholders carry out restructuring efforts, but until the specified time limit, the restructuring efforts undertaken by the Management / Controlling Shareholders so that BPR can operate normally with a KPMM ratio of at least 12% was not realized.
With the revocation of PT BPR Sekar's business license, the LPS will then carry out the guarantee function and conduct the liquidation process in accordance with Law Number 24 of 2004 concerning the Deposit Insurance Corporation as amended by Law Number 7 of 2009. (LM)