Facing OJK Sanction, Bank Neo Commerce Assures Normal Operations

JAKARTA - PT Bank Neo Commerce Tbk (BBYB) has issued a statement regarding the Financial Services Authority (OJK) Commissioner Council’s Decision No. KEP-3/PM.13/2026 on the Revocation of the Registration Certificate for Level I Institutional Securities Trading Intermediary Marketing Partner of PT Bank Neo Commerce Tbk. The President Director of PT Bank Neo Commerce Tbk, Eri Budiono, stated that the decision relates to a referral permit to securities companies for customers interested in stock trading transactions, which has not yet been launched by the bank. Bank Neo Commerce strives to conduct its business activities responsibly, prudently, and in accordance with good corporate governance principles. He explained that the revoked permit concerns a referral programme that has not been launched in connection with the OJK commissioner council’s decision. “The revoked permit is for the bank to provide referrals to securities companies for customers who have an interest in stock trading,” he added. Eri elaborated that the referral programme was planned as a new product to develop wealth management services, which has not yet been launched to date. Nevertheless, BNC stated that the decision does not impact the bank’s operational activities or other currently available product services for customers and the public. All BNC digital banking services continue to operate normally, including wealth management products such as mutual funds, bancassurance, gold services, and other digital banking products and services. Customers and the public can continue to access all these services fully and without disruption, as usual. Furthermore, as a banking institution under the supervision of banking and capital market regulators, BNC expressed full respect for every policy and regulatory direction set by all relevant regulators, and continues to actively coordinate with related parties. “Bank Neo Commerce fully respects every policy and regulatory direction implemented by the relevant regulators and will continue to foster active coordination to ensure compliance with all applicable provisions,” Eri concluded. Previously, the Deputy Commissioner for Licensing and Supervision of Capital Market Investment Management and Securities Institutions at OJK, Eddy Manindo Harahap, stated that the sanction was given considering the facts and information obtained from supervision. The digital bank was found to have violated the provisions of Article 11 paragraph (1) of OJK Regulation No. 21/POJK.04/2021 on Securities Trading Intermediary Marketing Partners. “Because it did not carry out Securities Trading Intermediary Marketing Partner activities within one year since obtaining the registration certificate for Securities Trading Intermediary Marketing Partner from OJK,” he added. He further noted that with the revocation of the aforementioned Level I Institutional Securities Trading Intermediary Marketing Partner registration certificate, PT Bank Neo Commerce Tbk is prohibited from conducting activities as a Securities Trading Intermediary Marketing Partner.