BBKP - PT. Bank KB Bukopin Tbk

Rp 80

-3 (-4,00%)

JAKARTA. PT Bank KB Bukopin Tbk (BBKP) is currently trying to speed up the handling of non-performing loan (NPL) of IDR 10 trillion that had been accumulated throughout 2022. It had resulted in less expansive, even decreasing credit channelling in 2022 of up to 11.79% year-on-year (yoy), as well as loss.

Until Q3 2022, BBKP recorded credit distribution of IDR 51.82 trillion, shrinking from IDR 57.93 trillion in Q3 2021. Its credit channelling was seen as non-expansive last year, coinciding with the attempt on fixing its NPL issue. Within said timeframe, its net NPL decreased from 4.94% in September 2021 to 4.84% in September 2022.

Robby Mondong, Deputy President Director of KB Bukopin, claimed that the company is making an effort to attain a clean collectability status. “We are planning to handle approximately IDR 10 trillion of NPL, which could be done through bulk sales or issuance of sharia bonds and sukuk,” he added in the public expose. As of Q3 2022, Bank KB Bukopin recorded massive surge in its consolidated loss of 629.38% yoy due to the downturn of its financial asset value, arriving as low as IDR 2.78 trillion.

With this setback in mind, BBKP aims to regain profit by 2024 through implementing several combined strategies, including expanding new high-quality credit distribution and expediting NPL resolution. “We are also implementing cost efficiency strategies, increasing revenue through both existing and new products, as well as credit-based or fee-based products. Therefore, we hope that in 2024, we will once again score profits,” the management explained in its official statement quoted yesterday (5/1).

As of now, Bank KB Bukopin is under the control of KB Kookmin Bank Ltd from South Korea, which owns 67% of it shares. PPA also claims another 1.53%, while public investors share the remaining 31.47%. (AM/ZH)