JAKARTA - PT Bank Yudha Bhakti Tbk (BBYB) or BYB will issue new shares through a rights issue by June 2020. The corporate action aims to upgrade the bank’s status to Commercial Bank (BUKU) II.
“The company’s 2020 rights issue is expected to take place no later than June 2020 using financial statements from December 2019,” said BYB CEO Denny N. Mahmuradi in a stock exchange filing, Wednesday (1/1).
Currently, fintech startup PT Akulaku Silvrr Indonesia is the main contender to be BYB’s controlling shareholder. As of September 2019, Akulaku owns a 24.08% stake in the bank.
Akulaku’s ownership in BYB increased with the dilution of PT Gozco Capital’s stake in the bank from 42.16% in December 2018 to 25.37% as of September 2019. In addition, PT Asabri’s (Persero) ownership in BYB was also reduced from 23.89% in December 2018 to 20.13% as of September 2019.
For this year, Mr Mahmuradi said, BYB will enter the digital banking sector through collaboration with Akulaku. “We will not only develop QR Code payments, but we will also utilise an open banking system that includes a Unified Payment System (UPS) similar to other digital wallet apps,” said Mr Mahmuradi as quoted by Bisnis.com. (MS)