Conglomerates & Their Banks

MNC Bank (BABP), controlled by Hary Tanoesoedibjo, reported a 18% drop in assets, to Rp10.7 trillion in 2017, from Rp13 trillion in 2016, mainly due to falling deposits from third parties and other banks. Years of losses, meanwhile, cut further the bank’s equity to Rp1.25 trillion from Rp1.86 trillion in December 2016.

Read More