JAKARTA - PT Bank Bukopin Tbk (BBKP), a bank with a market capitalisation of IDR 18.69 trillion, has provided subordinated loans to its subsidiary, PT Bank Syariah Bukopin (BSB).
Rivan A. Purwanto, President Director of BBKP, explained that the loan was signed at the end of December 2020. It was also one of the company's business strategies to nourish BSB in 2020 financial year.
"Given that Sharia banking business has very good prospects, Bank Bukopin is committed in developing Bank Syariah Bukopin," Purwanto said through an information disclosure on Indonesia Stock Exchange today.
He added that BSB would use the loan funds to support business expansion, especially in financing a number of potential business sectors, but not against the principles of sharia.
According to idnfinancials.com data, BBKP is the controlling shareholder of BSB, with ownership of 92.78%. Most of BBKP's shares are currently owned by KB Kookmin Bank Co., Ltd., one of the banks with the largest total assets in South Korea. (KR/VA)