When depositors started to form queues at branches of Indonesia’s fourth largest bank late last year, the banking community knew that a crisis was at hand. For weeks, rumours circulated in the media about the state of the Lippo group, a large financial services and property conglomerate. It was not the only group to have come under pressure.
Owned by the ethnic Chinese Riady family and headed by star Indonesian banker Mochtar Riady, the group has a high profile in Asia.
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