Home » Business » Supported by Kookmin, Pefindo raises Bukopin’s rating to idAA

Supported by Kookmin, Pefindo raises Bukopin’s rating to idAA

Jakarta, CNBC Indonesia– PT Pemeringkat Efek Indonesia (Pefindo) upgraded the rating of PT Bank Bukopin Tbk (BBKP) from idA- to idAA. In addition to the corporate rating, Pefindo has also upgraded the rating of Bank Bukopin’s Continuous Subordinated Bonds II from idBBB to idA +. In addition, Bank Bukopin is also in a stable outlook which was previously Creditc Watch with developing implications.

The ‘idAA’ rating and Stable Outlook are defined as having a very strong ability to meet long-term financial commitments compared to other Indonesian obligors. The rating for Bank Bukopin is valid for the period 8 September 2020 to 1 June 2021.

Pefindo’s analysis states that the increase in Bank Bukopin’s rating this year is driven by the conclusion that KB Kookmin Bank is the controlling shareholder of Bukopin with a share ownership of 67%.


President Director of Bank Bukopin Rivan A. Purwantono said KB Kookmin Bank, which is the largest bank in South Korea and now as the controlling shareholder, has provided tremendous support for Bank Bukopin. The additional new capital amounting to Rp 3.6 trillion disbursed by KB Kookmin has helped Bank Bukopin in facing liquidity and capital challenges.

“Of course we are grateful. The increase in this ranking reflects the Company’s consistency in carrying out a series of corporate actions to increase capital in order to maintain the Company’s performance growth,” said Rivan, in his official broadcast, Thursday (10/09/2020).

In addition, there are several adjustment plans, such as in the aspect of IT infrastructure and underwriting practices, to better integrate Bukopin’s business with KB Kookmin Bank.

“The inclusion of additional family planning investments during the pandemic is certainly a good moment for the Company to adapt the professionalism of international standard banks, as well as proof of the attractiveness of Indonesian investment which continues to attract global investors, in order to contribute to the progress of the national economy,” said Rivan.

Going forward, Bukopin’s transformation by synergizing all aspects that are the strengths of KB Kookmin is targeted to make Bukopin into the top 10 best banks in Indonesia. Rivan said this made Bukopin one of the assets that moved and helped the national economy recover.

[Gambas:Video CNBC]

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