Jakarta. The Financial Services Authority (OJK) has revoked the business licenses of 14 banks in Indonesia since early 2024 due to financial collapse.

"In 2014, 14 banks in Indonesia collapsed and had their business licenses revoked. These banks were rural banks (BPR)," said Dian Ediana Rae, OJK's Executive Head of Banking Supervision, on Monday.

The number of bank bankruptcies this year has more than tripled compared to last year. In 2023, only four banks went bankrupt in Indonesia.

On average, seven to eight banks go bankrupt each year in Indonesia due to mismanagement. Since 2005, a total of 136 banks have gone bankrupt to date. 

Almost all of the banks that went bankrupt were BPR. Here is a list of the bankrupt banks as of July 2024:

1. BPR Sumber Artha Waru Agung
2. BPR Lubuk Raya Mandiri
3. BPR Bank Jepara Artha
4. BPR Dananta
5. BPRS Saka Dana Mulia
6. BPR Bali Artha Anugrah
7. BPR Sembilan Mutiara
8. BPR Aceh Utara
9. BPR EDCCASH
10. BPR Bank Purworejo
11. BPR Madani Karya Mulia
12. BPRS Mojo Artho Kota Mojokerto
13. BPR Bank Pasar Bhakti
14. BPR Wijaya Kusuma