JAKARTA. PT Bank KB Bukopin Tbk (BBKP) has obtained a long-term loan facility worth USD 300 million from its parent company, KB Kookmin Bank Co., Ltd., under Korea Development Bank.

Said facility will be utilized to reinforce the funding structure and BBKP's sustainable growth. With solid funding, the company will expand its credit, particularly to MSME and retail segment, which are two of its focus this year.

"The collaboration between KB Bank and Korea Development Bank is also supported by KB Bank as parent entity through a guarantee of Standby Letter of Credit (SBLC) issued by KB Kookmin Bank Co., Ltd,” said Robby Mondong, Vice President Director of BBKP.

Throughout 2023, BBKP's wholesale segment grew nearly 14% year-on-year (yoy). New channelled credit growth reached approximately 18%, driven by Korean Link Business twofold increase.

According to IDNFinancials data, as of now, KB Kookmin Bank controls 66.88% of BBKP. STIC Eugene Star Holdings Inc. claims another 16.98% while public investors share the remaining 16.14%. 

At yesterday's (17/4) closing bell, BBKP's price dropped 1.37% or 1 point to IDR 72 per share. The transaction volume was recorded at 34.01 million shares, with transaction worth IDR 2.45 billion. Foreign sell and buy were seen at 8.02 million and 10.4 million shares, respectively, this resulting in foreign net buy of 2.39 million shares. (KR/ZH)