Jakarta. Bank Jakarta remains on track to launch an initial public offering (IPO) on the Indonesia Stock Exchange in the first half of 2027, with the lender focusing on strengthening its business fundamentals to achieve an optimal valuation ahead of its market debut.

President Director Agus Haryoto Widodo said on Tuesday that the bank is prioritizing improvements in financial performance, risk management, digital transformation, and liquidity as part of its IPO preparations.

“Our IPO roadmap remains unchanged. God willing, we are targeting the first half of next year, around the second quarter,” Agus told reporters after speaking at the Investor Daily forum, Shaping the Next Era of Indonesia's Capital Market, held at the Indonesia Stock Exchange in Jakarta.

“For now, we are focused on building Bank Jakarta's fundamentals to ensure the company is well-positioned when it goes public,” he said.

Agus said the bank's preparations extend beyond improving earnings and include strengthening risk management, accelerating digital transformation, and enhancing liquidity to make the lender more attractive to investors.

Proceeds from the IPO will primarily be used to strengthen Bank Jakarta's capital base, enabling the lender to expand its lending capacity. Part of the funds will also be allocated to upgrading information technology infrastructure to support its ongoing digital transformation.

He said discussions on the final allocation of IPO proceeds are continuing with financial advisers and shareholders. Any decision, however, will take into account the strategic interests of the Jakarta provincial government, which remains the bank's controlling shareholder.