The Financial Services Authority (OJK) revoked the business license of Perumda BPR Bank Cirebon effective Monday (9/2/2026) due to serious governance and financial issues. Customer funds are guaranteed by the Deposit Insurance Corporation (LPS) as per regulations. OJK had attempted to rehabilitate the bank since 2024, but no significant improvements occurred.
The Financial Services Authority (OJK) revoked the business license of Perumda BPR Bank Cirebon based on OJK Commissioner Council Member Decision No. KEP-12/D.03/2026 dated February 9, 2026. Agus Muntholib, Head of OJK Cirebon, explained that the revocation is part of supervisory measures to strengthen the banking industry and maintain public trust.
OJK identified serious issues including inadequate application of prudential principles, weak corporate governance, suboptimal risk management, and non-compliance with regulations. “Those problems have a significant impact on the bank's financial condition and business continuity,” Agus said on Monday (9/2/2026).
Since the issues were identified, OJK intensified supervision, imposed administrative sanctions, and ordered corrective actions. On August 2, 2024, the bank was designated as BPR Dalam Penyehatan (BDP) due to Capital Adequacy Ratio (KPMM) below 12 percent and an unhealthy health rating. On August 1, 2025, the status was escalated to BPR Dalam Resolusi (BDR) after rehabilitation efforts failed.
Management and shareholders could not rehabilitate the bank, particularly regarding capital. The Deposit Insurance Corporation (LPS) decided not to rescue it and requested OJK to revoke the license. LPS will handle deposit guarantees and liquidation.
OJK urged customers to remain calm as their funds are guaranteed by LPS. This policy underscores OJK's commitment to banking sector stability in the region.
