JAKARTA – PT Bank Jasa Jakarta (BJJ), a banking service owned by Astra Financial and Hong Kong-based WeLab, has officially rebranded as PT Bank Saqu Indonesia, or Bank Saqu, becoming a full-fledged digital bank.

PT Astra International Tbk (ASII) first became a shareholder in BJJ on 16 September 2022. One year later, on 20 November 2023, ASII and WeLab launched Bank Saqu as BJJ’s digital banking service.

Now, 18 months on, BJJ has fully transformed into a digital bank, operating under the name Bank Saqu.

“We have received approval from the regulator—OJK—to formalise the transformation from Bank Jasa Jakarta to Bank Saqu on 21 May 2025,” said Leo Koesmanto, President Director of Bank Saqu.

Speaking at the Inauguration of the Transformation of PT Bank Jasa Jakarta held today (28/5), Leo stated that Bank Saqu has gained 2.5 million new customers since its launch in 2023.

He assured that the account migration process will proceed smoothly.

According to Leo, Bank Saqu’s services will now focus on two key segments: personal banking for solopreneurs and relationship banking for MSME players.

“Solopreneurs are individuals who own and aspire to grow their own small or independent businesses,” Leo explained.

As these solopreneurs grow into larger enterprises, Leo added, Bank Saqu is ready to meet their evolving needs through various business banking features such as a cash management system, supply chain financing, and a payroll system.

On the other hand, Leo acknowledged that the Indonesian banking industry, including digital banks, is currently facing liquidity challenges.

However, as part of the Astra ecosystem, he believes Bank Saqu has more opportunities to leverage its network to boost third-party funds (DPK) and loan distribution.

He emphasised that even though Bank Saqu is beginning to collaborate with partners within the Astra ecosystem, the bank remains committed to serving all Indonesians. (ZH)