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MarketScreener Homepage  >  Equities  >  INDONESIA STOCK EXCHANGE  >  PT Bank Bukopin Tbk    BBKP   ID1000103609

PT BANK BUKOPIN TBK

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South Korean KB Kookmin Bank injects cash into Indonesian Bank Bukopin

06/11/2020 | 10:13am EST
A customer talks on the phone behind the logo of KB Kookmin Financial Group at a branch of KB Kookmin Bank in Seoul

South Korean lender KB Kookmin Bank has injected cash into Indonesia's Bank Bukopin as part of a process to take a controlling stake, a Bukopin director said in a statement on Thursday, amid a cash crunch at the Jakarta-based lender.

The move shows KB Kookmin Bank's commitment to the acquisition, which is awaiting approval from banking regulators in Jakarta and Seoul, Adhi Brahmantya, Bukopin's director of operations said in the statement.

Bukopin said in a stock exchange filing earlier this week it had negative cashflow due to a drop in overall savings, but it was working to increase retail deposits.

Some of its customers told Reuters the bank had lowered their daily withdrawal limit this week.

Bukopin is due to hold a rights issue this month. KB Kookmin Bank - part of KB Financial Group - is currently Bukopin's second largest shareholder with a 22% stake, after Indonesian conglomerate Bosowa with a 23.4% stake.

Bosowa could not be reached for comment.

Earlier on Thursday, Indonesia's banking regulator, the Financial Services Authority (OJK), said Kookmin has set aside an undisclosed amount of funds in an escrow account as it moves to increase its stake.

However, an official at KB Kookmin Bank in Seoul told Reuters ahead of Bukopin's statement: "We are currently working on the process to acquire the majority stake in Bank Bukopin in Indonesia, but we are not currently in a rush to complete the process."

Bukopin's non-performing loan ratio was 5.3%, according to its first quarter report. Its total asset was 100.8 trillion rupiah ($7.23 billion).

(Reporting by Tabita Diela in Jakarta and Heekyong Yang in Seoul; Editing by Gayatri Suroyo and Kirsten Donovan)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AT HOME GROUP INC. -2.95% 22.73 Delayed Quote.47.02%
KB FINANCIAL GROUP INC. -2.90% 45200 End-of-day quote.4.15%
PT BANK BUKOPIN TBK 0.00% 770 End-of-day quote.33.91%
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Financials
Sales 2019 2 906 B 206 M 206 M
Net income 2019 216 B 15,4 M 15,4 M
Net Debt 2019 1 547 B 110 M 110 M
P/E ratio 2019 12,1x
Yield 2019 -
Capitalization 25 158 B 1 788 M 1 786 M
EV / Sales 2018 1,01x
EV / Sales 2019 1,43x
Nbr of Employees 5 118
Free-Float 99,0%
Chart PT BANK BUKOPIN TBK
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PT Bank Bukopin Tbk Technical Analysis Chart | BBKP | ID1000103609 | MarketScreener
Technical analysis trends PT BANK BUKOPIN TBK
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 2
Average target price 377,50 IDR
Last Close Price 770,00 IDR
Spread / Highest target -31,2%
Spread / Average Target -51,0%
Spread / Lowest Target -70,8%
EPS Revisions
Managers and Directors
NameTitle
Eko Rachmansyah Gindo President Director
Mustafa Abubakar President Commissioner
Adhi Brahmantya Director-Operations & Information Technology
Deddy S. A. Kodir Commissioner
Karya Budiana Independent Commissioner
Sector and Competitors