INDOVER RETURNS BANK MANDIRI FUNDS

Jakarta, March 22 (ANTARA) - Bank Mandiri president director Agus Martowardojo said Bank Indover had returned 17.5 million euros in funds owed to his bank last March 10, 2010.

"We received 17.5 million euros from Indover on March 10, 2010 and so they still have to hand back 19.7 million euros," he said at a press conference here on Monday.

He said Indover had a commitment to settle its obligations to Bank Mandiri this year.

Indover operations were closed in 2008 by the Dutch central bank because of the impact of global economic crisis.

The closure made several national banks' funds being held there.

Bank Mandiri's exposure to Indover reached US$31 million, done through money market.

Bank BNI's exposure meanwhile totalled US$27 million. Other banks also have an exposure to Indover such as Bank BRI, Bukopin, Artha Graha, Lippo Bank and Bank Ekonomi.