Not only state-owned banks, Waskita Karya also owes debt to regional banks.

PT Waskita Karya (Persero) Tbk.'s debt has skyrocketed. According to the company's Q1 2023 financial report, its liabilities, or debt, amounted to Rp84.37 trillion. This debt figure is extremely high, equivalent to 86% of its total assets of Rp98.22 trillion. Meanwhile, its equity or capital is only Rp13.84 trillion.

This debt comprises various components, one of the largest being long-term bank loans. The debt is not only incurred by the parent company but also by its subsidiaries.

The company, with the stock code WSKT, is recorded as having borrowed money from major state-owned enterprises (SOEs) banks. One of the largest loans comes from BNI, which disbursed a loan for the parent company's restructuring amounting to Rp7.51 trillion.

(See also: [This is the Detail of Waskita Karya's Huge Debt to SOE Banks in Q1 2023](https://databoks.katadata.co.id/datapublish/2023/06/15/ini-rincian-utang-jumbo-waskita-karya-kuartal-i-2023-kepada-bank-bank-bumn))

In addition to large SOE banks, this state-owned company is also recorded as having borrowed money from several regional government banks.

As reported by *Katadata*, Waskita Karya is observed to have debt from 24 Regional Development Banks (BPDs) spread across Indonesia. The total value was almost Rp5 trillion in the first quarter of 2023.

The company's largest debt is to Bank Jabar Banten, amounting to Rp1.4 trillion, and Bank Pembangunan Daerah Jawa Timur, amounting to Rp944.7 billion.

*Databoks* has compiled the debt of Waskita Karya's subsidiary, Waskita Toll Road (WTR). Among WSKT's subsidiaries, this company is recorded as having the most loans from regional banks.

The loans are in the form of investment credit and interest during construction (IDC) credit.

Note that a single regional bank may have provided more than one loan. The following is a list:

* Investment Credit - Bank Syariah Aceh Rp385,914,927,218
* Investment Credit - BPD Riau Kepri Rp72,359,066,207
* Investment Credit - BPD DIY Rp48,239,349,588
* Investment Credit - BPD Jawa Barat & Banten Rp98,180,900,161
* Investment Credit - BPD Jawa Timur Rp84,151,230,915
* IDC Credit - BPD Jawa Timur Rp6,116,214,805
* Investment Credit - BPD Kalimantan Barat Rp170,325,365,599
* IDC Credit - BPD Kalimantan Barat Rp40,097,787,452
* Investment Credit - Bank Kalimantan Selatan Rp48,239,377,469
* Investment Credit - BPD Sumatera Utara Rp135,804,976,775
* IDC Credit - BPD Sumatera Utara Rp11,601,224,475
* Investment Credit - BPD Jambi Rp135,804,976,775
* IDC Credit - BPD Jambi Rp16,959,637,475
* Investment Credit - BPD Bengkulu Rp80,909,003,845
* IDC Credit - BPD Bengkulu Rp17,582,413,601
* Investment Credit - BPD Lampung Rp81,950,321,874
* IDC Credit - BPD Lampung Rp11,051,445,048
* Investment Credit - BPD DIY Rp45,268,325,592
* IDC Credit - BPD DIY Rp5,653,212,494
* Investment Credit - BPD Bali Rp148,811,000,374
* IDC Credit - BPD Bali Rp26,062,724,205
* Investment Credit - BPD Kalimantan Tengah Rp135,804,976,775
* IDC Credit - BPD Kalimantan Tengah Rp16,959,637,475
* Investment Credit - BPD Kalimantan Selatan Rp216,713,980,620
* IDC Credit - BPD Kalimantan Selatan Rp34,542,051,076
* Investment Credit - BPD Sulawesi Tengah Rp45,268,325,592
* IDC Credit - BPD Sulawesi Tengah Rp5,653,212,494
* Investment Credit - BPD Sulawesi Selatan & Sulawesi Barat Rp67,901,996,529
* IDC Credit - BPD Sulsel & Sulbar Rp8,480,310,604
* Investment Credit - BPD Sulawesi Selatan & Bangka Belitung Rp341,024,165,008
* IDC Credit - BPD Sulsel & Babel Rp54,679,738,642
* Investment Credit - BPD Riau & Kepri Rp331,450,749,492
* IDC Credit - BPD Riau & Kepri Rp47,475,610,867
* Investment Credit - BPD Papua Rp492,576,133,388
* IDC Credit - BPD Papua Rp70,928,673,024
* Investment Credit - BPD Maluku & Maluku Utara Rp100,623,895,812
* IDC Credit - BPD Maluku & Malut Rp18,721,510,442
* Investment Credit - BPD NTT Rp167,550,315,347
* IDC Credit - BPD NTT Rp34,077,446,580
* Investment Credit - BPD Jawa Timur Rp721,476,645,616
* IDC Credit - BPD Jawa Timur Rp139,099,469,159
* Investment Credit - BPD Jawa Tengah Rp226,341,626,959
* IDC Credit - BPD Jawa Tengah Rp19,335,374,124

Overall, Waskita Karya's bank debt reaches Rp46.53 trillion. In other words, bank debt accounts for half of Waskita Karya's total liabilities in Q1 2023.

(See also: [Skyrocketing Debt: A Record of Waskita Karya's Assets and Capital Over the Past Four Years](https://databoks.katadata.co.id/datapublish/2023/05/29/utang-menggunung-ini-catatan-aset-hingga-modal-waskita-karya-empat-tahun-terakhir))