Signing the SHA, Bank Sultra Officially Becomes the Fifth Bank to Join the KUB Framework with Bank Jatim.
Date: 24 december 2024Categories :
JAKARTA, December 24, 2024. Approaching the end of 2024, PT Bank Pembangunan Daerah Jawa Timur Tbk (bankjatim) has officially formed a Bank Business Group (KUB) with Bank Sultra. This signifies that Bank Sultra has become the fifth bank to join the KUB framework with BJTM. The milestone was marked by the signing of a Shareholders Agreement (SHA) at the Sheraton Grand Jakarta Hotel Ballroom. The signing was conducted by the President Director of bankjatim, Busrul Iman, and the Regional Secretary of Southeast Sulawesi Province, Arsun Lio, on Tuesday (24/12).
In addition to the SHA, the event featured the signing of a compliance deed by bankjatim President Director Busrul Iman and Bank Sultra President Director Abdul Latif. The ceremony was witnessed by the Head of OJK Southeast Sulawesi, Bismi Maulana Nugraha, the Head of the East Java Economic Bureau, Muhammad Aftabuddin Rijaluzzaman, and the Boards of Commissioners and Directors from both institutions.
In his remarks, Busrul expressed his gratitude for the progress made in the KUB formation process. The corporate action involving bankjatim's capital participation in Bank Sultra had previously received approval during an Extraordinary General Meeting (EGM) held on December 11, 2024.
“KUB is a strategic corporate action involving capital participation and serves as one of bankjatim’s transformation pillars. Beyond capital, KUB has a vital Business-to-Business (B2B) aspect, allowing for deeper synergy through joint programs, ranging from funding and financing products to other banking services,” Busrul explained.
Busrul added that the KUB between bankjatim and Bank Sultra is an effort to strengthen the structure, resilience, and competitiveness of the banking industry to achieve higher levels of efficiency and economies of scale. Moving forward, both parties aim to become competitive Regional Development Banks (BPD) that drive economic growth both regionally and nationally.
As an innovative and trusted bank, BJTM has proven that BPDs can compete on a national level. The bank is committed to providing added value to shareholders while strengthening its business growth. “We demonstrated solid performance in the period ending November 2024. Bank Jatim's assets reached IDR 109.09 Trillion, credit distribution stood at IDR 63.90 Trillion, Third-Party Funds (DPK) at IDR 87.96 Trillion, and profit reached IDR 1.02 Trillion. Therefore, with a spirit of collaboration, let us move forward together through KUB so that BPDs can have added value and compete within the strict national banking industry,” he stated.
Muhammad Aftabuddin Rijaluzzaman added his appreciation to the Southeast Sulawesi government and Bank Sultra for their full trust in bankjatim. “We are honored to be the bank chosen by Southeast Sulawesi. We hope that Bank Sultra's integration into this KUB provides extraordinary synergy for all of us,” he emphasized.
Arsun Lio expressed his belief that bankjatim and Bank Sultra would complement and strengthen each other across various aspects, including credit and savings product development and the modernization of information technology systems. This synergy is expected to increase the efficiency, productivity, and profitability of Bank Sultra, ultimately benefiting the people of Southeast Sulawesi.
“We are optimistic that with the support and guidance from bankjatim as the holding company, the target for minimum core capital fulfillment can be achieved,” Arsun concluded.
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