JAKARTA. PT Krom Bank Indonesia Tbk (BBSI) has sold its assets in Bandung worth IDR 2.95 billion.

Anton Hermawan, President Director of BBSI, said that the divested asset is a former branch office of the company located in Buah Batu, Bandung. He then confirmed that the asset divestment did not involve affiliated party.

“Asset divestment takes place due to changes in bank business strategy that will prioritise digital-based service, thus requiring a limited number of branch offices,” Hermawan said.

According to IDNFinancials data, BBSI reported cash and cash equivalent of IDR 1.41 trillion as of June 30, 2024. Total assets were recorded at IDR 4.91 trillion and total equity was at IDR 3.26 trillion. (KR/ZH)