[서울와이어 주해승 기자] KB Kookmin Bank announced at a board meeting on the 12th that it would participate in the capital increase with a limit of 400 billion won, equivalent to a 67% stake in KB Bucopin Bank.
Kookmin Bank acquired a 22% stake in Bukopin Bank in July 2018 and became the second-largest shareholder. Bukopin Bank ranks 19th in asset size among a total of 115 commercial banks in Indonesia, which is about twice the size of other Korean banks that have entered Indonesia since the 1990s.
Bukopin Bank is an essential base that should be fostered for the future sustainable growth of Kookmin Bank. This capital increase was made to secure new customer groups, improve asset quality, improve IT infrastructure, and lay the foundation for digital bank conversion, which are key pillars of the business normalization strategy.
A Kookmin Bank official said, “With this capital increase, Bukopin Bank will be able to take advantage of the crisis triggered by COVID-19 as an opportunity to support economic growth when the situation in Indonesia improves in the future.” “he said.
