Fitch Ratings upgrades its rating for Bank Bukopin
JAKARTA. Fitch Ratings Indonesia upgraded the long-term national rating of PT Bank Bukopin Tbk (BBKP) from “idAA-” to “idAAA”.
Rivan A. Purwantono, BBKP's president director, said that the upgrade was dome after KB Kookmin Bank became the majority shareholder in the company. "We must maintain this "AAA" rating, because it is a form of trust in the support of KB Financial Group in Indonesia, especially KB Kookmin Bank as PSP (Controlling Shareholder)," said Purwantono in a press release today.
For the record, KB Kookmin Bank is one of the largest banks in South Korea. This bank has been a shareholder of BBKP since 2018. At present, KB Kookmin Bank controls 67% of BBKP's shares.
Apart from KB Kookmin Bank, BBKP's shareholders are PT Bosowa Corporindo (11.68%) and public investors (18.14%, each below 5%). (KR/AR)