Shares of KB Bank (BBKP) Head to Rp50 as It Cuts 662 Employees and Two Directors Resign

Jakarta, CNBC Indonesia — Shares of PT Bank KB Indonesia Tbk. (BBKP) have begun touching the Rp50 level. In the first trading session on Tuesday (9/6/2026), BBKP shares moved in the range of 50 to 53. This is not the first time BBKP has touched the Rp50 level. In March 2025, BBKP spent about a week at that level. The current position shows a significant decline this year, with the shares having plunged 35% year-to-date (ytd). BBKP had actually touched a level of 94 per share earlier this year. Looking further back, BBKP shares have also undergone a significant correction following the entry of South Korea’s Kookmin Bank as the controlling shareholder. As a reminder, Kookmin Bank officially became the controller of PT Bank Bukopin Tbk. on 30 July 2020. BBKP shares subsequently strengthened to reach Rp410 per share on 1 October 2020. However, the shares were unable to maintain that position and continued to decline over the next five years. BBKP has been corrected by 84.19% over the last five years. Currently, BBKP shares are controlled by Kookmin Bank with 125.66 billion shares, or 66.88%, and STIC Eugene Star Holdings with 31.90 billion shares, or 16.98%. In terms of performance, in the first quarter of 2026, KB Bank posted a net profit of Rp10.51 billion. This was a significant drop from the Rp351.92 billion recorded in the same period a year earlier. For information, from 2020 to 2024, BBKP booked losses amounting to trillions of rupiah. In 2020, the bank posted a loss of Rp3.26 trillion. The bank’s loss shrank a year later to Rp2.28 trillion. In 2022, the bank’s loss swelled to Rp5.03 trillion and rose again to Rp6.04 trillion in 2023. The peak loss occurred in 2024, when the company reported a loss of Rp6.33 trillion. Last year, BBKP reversed its loss into a slim profit of Rp65.92 billion. However, as of March 2026, BBKP still recorded an accumulated loss balance of Rp20.97 trillion. Meanwhile, based on financial ratios, the bank still has significant homework regarding asset quality. The company’s gross non-performing loan (NPL) ratio reached 9.83%, with a net NPL of 6.21%. The return on assets (ROA) fell from 2.31% to 0.02%, and return on equity dropped from 37.39% to 0.16%. Along with this performance pressure, the company also recorded a significant reduction in employees and branch offices. Based on the company’s financial report as of 31 March 2026, the number of KB Bank employees, both permanent and non-permanent, totalled 2,265 people. This figure has decreased drastically, down by 662 people, or around 22%, from 2,927 people in the same period a year earlier. Meanwhile, the number of KB Bank sub-branch offices totalled 120 units in the first quarter of 2026, a reduction of 21 units, or 15%, from 141 units in the same period a year earlier.