Also in 1982, Widjaja acquired Bank Internasional Indonesia (BII) and founded PT Internas Artha Leasing Company. BII became the second largest private bank in Indonesia, but due to the 1997 Asian financial crisis, it failed in April 1998 with a debt of US$4.6 billion (the largest foreign debt owed by an Indonesian corporation at that time) and was nationalized in April 1999. Widjaja moved back into banking by acquiring PT Bank Shinta Indonesia in 2005 and later renamed it as PT Bank Sinarmas.