JAKARTA. Maspion Bank has set a new vision and mission to become a top 20 bank in Indonesia by 2027. To achieve this goal, the bank whose majority shares are now owned by Kasikorn Vision Financials Company Pte/Ltd (KVF) has set a number of strategies to achieve high growth and sustainable income.

President Director of Bank Maspion, Kasemsri Charoensiddhi, said that in order to achieve a spot in the 20 largest banks in Indonesia, the company has set up several initiatives, including: improving business model from local business to professional. This will be attained through reorganisation of bank structure to split the tasks between risks and business, internal audit, positioning key management staffs, as well as determining the policy and bank processes.

“We also invite professionals from KBank as consultant in all aspects to ensure the know-how and transfer knowledge to Bank Maspion,” Charoensiddhi told IDNFinancials a couple of weeks ago.

Bank Maspion has also carried out transformations that cover all aspects of business and risks to improve staffs’ capability, upgrade products and operational services, as well as financial position to promote growth of business and risk management. “It also includes human resource upgrade, as well as career path development and training,” added Charoensiddhi.

Furthermore, Charoensiddhi reveals that the company will expand its business to corporate banking, syndicated loan, supply chain financing, and credit distribution to drive business growth.

The last measure initiated by Bank Maspion to attain the vision of becoming one of the 20 largest banks in Indonesia is to build its brand, thus increasing familiarity within people and aligning Bank Maspion as a part of a more extensive group.

At the end of November 2023, KVF had increased its portion in Bank Maspion to 81.1% after this bank conducted its rights issue worth IDR 1.7 trillion. With this change in portion, PT Alim Investindo in Bank Maspion now shrinks to 13.89%. (AM/ZH)