KB Kookmin Bank Signs Business Agreement with Indika Group in Indonesia

(from left) Kim Ki-hwan, president of KB Insurance; Lee Bok-hyun, governor of the Financial Supervisory Service; Lee Jae-keun, president of KB Kookmin Bank; Lee Woo-yeol, president of KB Bukopin; Arsjad Rasjid, president director of Indika Energy Group; Hendro Sugiatno, vice minister of Transport; Munjirin, mayor of Southern Jakarta; and Azis Armand, vice president director and CEO at Indika Energy Group all pose for a photo at an MOU signing ceremony between KB Bukopin and Indika Energy Group on May 11.

KB Kookmin Bank announced that KB Bukopin, a subsidiary of KB Kookmin Bank in Indonesia, signed a memorandum of understanding (MOU) with local energy company Indika Energy Group to rev up electric vehicle ecosystems in Indonesia.

Established in 1970, KB Bukopin has a history of more than 50 years and is a medium-sized bank ranking 19th in terms of assets among 115 commercial banks in Indonesia. In 2022, the bank earned the de facto top rating of 2 in the Risk Based Banking Rating (RBBR) by Indonesia’s local financial regulator, OJK.

The Indika Group is a conglomerate of 13 subsidiaries, including logistics and capital, centered around Indika Energy, a company listed on the Indonesian stock market.

The signing ceremony took place at the St. Regis Hotel in Jakarta, Indonesia, as an official event of K-Finance Week In Indonesia 2023 held in honor of the 50th anniversary of diplomatic relations between Korea and Indonesia.

The signing ceremony was attended by, among others, Lee Bok-hyun, governor of the Financial Supervisory Service, and Lee Jae-keun, president of KB Kookmin Bank representing Korea, and Arsjad Rasjid, president director of Indika Energy Group from the Indonesian side.