KB Bank Says Internal Restructuring Nearly Complete, Positions Indonesia as Global Priority Market
PT Bank KB Indonesia Tbk (KB Bank) has affirmed Indonesia’s position as a strategic market for its parent company, KB Financial Group (KBFG), amid a transformation process that is reportedly nearing its final stages. President Director Kunardy Darma Lie stated that Indonesia is now considered a ‘second mother market’, underscoring the high priority the domestic market holds in the group’s regional expansion outside South Korea. ‘Since being acquired in 2020, KB Financial Group has positioned Indonesia as a strategic market. Indonesia is designated as a second mother market, which shows the group’s high commitment to the Indonesian market,’ Kunardy said during a press conference in South Jakarta on Thursday (2/7).
Kunardy explained that the bank’s transformation and restructuring, initiated after the acquisition, are almost complete. The support from the South Korean parent company has been substantial, encompassing not only long-term commitment but also capital, liquidity, and expertise to aid the turnaround process. KB Bank’s Finance Director, Jang Hyuk Im, noted that the intensive restructuring has begun to yield results, with the bank’s performance showing improvement. ‘The restructuring process is now almost complete, and the bank’s performance is starting to show better results. Support from KB Financial Group remains strong to underpin this turnaround process,’ he said.
Looking ahead, KB Bank aims to differentiate itself by building a niche market and focusing on a clear ecosystem, particularly in the wholesale segment. Director of Wholesale, Widodo Suryadi, explained that the bank will integrate its wholesale and retail businesses by embedding itself within the value chain of corporate clients. This involves moving beyond corporate financing to capture retail opportunities within the same ecosystem, such as providing services to employees, suppliers, and distributors. ‘We cannot just sell products in a conventional way. We must have a niche and become a trusted partner by understanding the entire ecosystem, from the core company to its payroll, suppliers, and individual employees,’ Widodo said.