Jakarta. Bank KB Bukopin on Monday announced that it had recorded business and service growth in the first quarter of 2023.

KB Bukopin is also now ramping up its digital transformation efforts. By adopting digitalization, the bank is confident that it can create a market ecosystem that has sustainable growth, supported by effective and efficient operational costs and human capital.

KB Bukopin is now working on the SHINE Project as part of its digital transformation initiatives. The project development is set to take place for the next one and a half years.

According to a press release, this project is customer-centric to meet the needs of all customer demographics. It is also one of the objectives of the additional capital given by the company’s majority shareholder Kookmin Bank via the limited public offering VII through a rights issue scheme that sees 120 billion new series B shares.

The PUT VII has now entered the second stage of registration at the Financial Services Authority. Bank KB Bukopin targets that in April 2023, PUT VII will receive an effective statement and approval from the OJK. So that the trading processes of shares, with the issuance of 120 billion shares, can take place immediately, according to the KB Bukopin press release.

During the PUT VII process, Bank KB Bukopin carried out various business development activities in the first quarter of 2023. The bank has participated in syndicated financing for a number of sustainable projects. For instance, financing for INKA for its business operations, one of which includes electric buses. KB Bukopin reported that its financing “is not only solely concerned with profitability and business expansion, but it aims to support ESG principles”, namely by promoting electric vehicles.

KB Bukopin also has financing in the manufacturing and mining sectors, among others, in a syndicated loan for PT Air Bersih Jakarta. The financing demonstrates KB Bukopin’s support to help the government in clean water distribution. In early March, KB Bukopin also channeled financing to Indika Energi through a syndication scheme, according to the press release.

The company also proactively collects fee-based income through strategic collaboration efforts, including with, PLN Insurance, PT Inti (Persero), and most recently with UOB Asset Management. 

“The company's strategic steps taken to date are the company's commitment to continue moving in a more positive direction as well as one of the efforts to provide the best for the customers,” the KB Bukopin press release reads.

Read More: KB Bukopin Announces Partnership with INKA Multi Solusi