Jakarta. The West Java and Banten-owned Bank BJB confirmed Wednesday that Yuddy Renaldi had stepped down as its president director, but the company claimed that his resignation had nothing to do with the ongoing corruption investigation.

Bank BJB's corporate secretary Ayi Subarna said that the company had received Yuddy's resignation letter on Tuesday. The Corruption Eradication Commission (KPK) is currently investigating alleged markups of up to Rp 200 billion ($12.3 million) on the bank's ad placements between 2021 and 2023. Ayi denied that Yuddy had stepped down because of the case.

"He [Yuddy] is feeling unwell. He wants to focus on recovery," Ayi said.

Yuddy had been at the company's helm since 2019.

Yuddy's Successor

Bank BJB will announce the new president director after the annual shareholders' general meeting for the 2024 financial year.

"There is no decision yet as to who will replace [Mr. Yuddy]. Perhaps we will decide on his replacement at the shareholders' meeting," Ayi said.

Bank BJB will make sure that the shift in leadership will not affect its services and operations, according to Ayi.

The bank reported that its total assets had grown 17.1 percent year-on-year to Rp 210 trillion as of the third quarter of 2024. Its profit after tax also reached Rp 1.16 trillion.