Jakarta – The Indonesian banking sector recorded a combined operating loss of 52.094 trillion rupiah (7.1 billion dollars) in the 10 months to October compared to a loss of 177.02 trillion rupiah for calendar 1998, Finance Minister Bambang Sudibyo said.

"The total operational income of the national banks as of October 1999 was 129.719 trillion rupiah while operational expenses were 181.813 trillion rupiah," Sudibyo said in written answers to questions from the lower house of parliament, the People's Representative Counil. "So the operational income minus operational expenses is 52.094 trillion rupiah."

Asked about negative spreads in the sector, Sudibyo said the banks recorded interest income of 74.818 trillion rupiah as of October while the interest expenses were 96.015 trillion rupiah. "So the interest loss was 21.197 trillion rupiah," Sudibyo said.