KB Bukopin to Offer Rights Issue

The Jakarta Globe
October 27, 2022 | 4:49 pm
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(Photo Courtesy of KB Bukopin)
(Photo Courtesy of KB Bukopin)

Jakarta. KB Bukopin recently announced that it would raise capital through a rights issue of 120 billion units of Class B shares in the near future. 

The bank’s majority shareholder KB Koomin will strengthen KB Bukomin’s core capital through a pre-emptive rights scheme. KB Bukopin plans to issue 120 billion class B shares with a value of Rp 100 each. The number of shares would depend on how much money KB Bukopin needs and the prices set at the limited public offering.

"The plan to increase capital from the PUT VII [limited public offering VII] will strengthen KB Bukopin's capital structure in order to meet the minimum capital requirement regulations and support business development in accordance with KB  Bukopin's strategy. So that in the long term, it is expected to increase investment returns for the shareholder of KB Bukopin,” KB Bukopin finance director Seng Hyup Shin was quoted as saying in a recent press statement.

Shin also revealed some of KB Bukopin’s future plans, among others, the active promotion of its new generation banking system (NGBS). The bank will combine advanced information technology and non-face-to-face channels with state-of-the-art systems for higher profitability.

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KB Bukopin also has plans to launch a service that can offer its customers convenience with a simple, easy, and fast digital platform. And also to better serve its customers as it selectively expands its individual loan products and special loans to SMEs. KB Bukopin also has set a goal to become one of the top 10 banks in Indonesia, by providing comprehensive financial services through creating synergies among all affiliates of the KB  Financial Group.

“This year, KB Bukopin is very focused on becoming a clean bank next year. KB Bukopin plans to strengthen the special asset management function so that in the future, it is hoped that it will be able to increase the growth of good asset quality,” Shin said.

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