BTN Writes off IDR12.9 Trillion

PT Bank Tabungan Negara has secured the shareholder's approval to write off IDR12.96 trillion of loss.
As of the end of 2007 the loss balance of the state bank was IDR12.96 trillion compared with IDR13.52 trillion.
The President Director of BTN Iqbal Latanro said the bank will also arrange assets revaluation arrangement as much as IDR700 billion by revering to the market value of the assets.
"The Finance Minister has just signed quasi reorganizing so that the loss balance has been eliminated. That is why the balance sheet of BTN will be positive and the IPO result will be optimum," he said last week.