JAKARTA. The Financial Services Authority (OJK) revoked the license of PT Bank Perkreditan Rakyat (BPR) Lugano Bekasi, because its management and shareholders failed to improve its capital structure.
Previously, OJK had categorized BPR Lugano as under special supervision (BDPK) due to its minimum capital adequacy ratio, which was less than 12%.
"The BDPK status was given due to the failures of BPR's management who do not pay attention to the principles of prudence and fulfillment of sound banking principles," said Triana Gunawan, Head of OJK Regional 2 West Java, through an official statement.
Gunawan added, LPS will liquidate BPR Lugano in accordance with Law Number 7 of 2009. Therefore, he appealed to BPR Lugano's customers to remain calm, because the funds deposited were guaranteed by LPS.
However, according to data compiled by idnfinancials.com, BPR Lugano offered an 8% deposit rate in early June 2020. This is higher than the LPS' guaranteed interest rate for BPRs for the period of 30 July 2020 - 30 September 2020, which was 7.75%. (KR/AR)