KB Kookmin Bank's Indonesian subsidiary, KB Bukopin Bank, is undergoing a significant leadership change as CEO Lee Woo-yeol and Director Helmi Fahrudin announce their resignations. The decision comes as the bank prepares for its upcoming general shareholders' meeting scheduled for May 28, 2025, where the resignations will be formally approved.
Lee Woo-yeol, who has served as CEO since May 25, 2022, and Helmi Fahrudin, a director since August 25, 2020, are stepping down amid a backdrop of recent financial recovery for the bank. Both executives have been credited with navigating the institution through challenging times, and their departure is part of a planned transition, according to the bank's management.
Ariz Dian Perkasa, a representative from KB Bukopin Bank, emphasized that the two leaders executed their responsibilities diligently during their tenures. "The operations of the bank will continue smoothly during this transition, and we are committed to maintaining the trust of our shareholders and customers," Perkasa stated. He reassured stakeholders that the management change would not significantly impact the bank's operations or business strategy.
The upcoming shareholders' meeting will not only address the leadership change but will also cover several key issues, including the approval of the annual report and consolidated financial statements for the 2024 fiscal year, the board of directors' audit activities report, and the appointment of responsible individuals. Additionally, the meeting will discuss the report on the use of proceeds from paid-in capital increases and the approval of the 2024-2025 business plan.
In recent years, KB Bukopin Bank has struggled with deficits but has made a remarkable turnaround in the first quarter of 2025, reporting a net profit of 342.2 billion rupiah (approximately 290 billion won). This marks a significant improvement, especially when compared to the same period last year, when the bank recorded a loss of approximately 1.24 trillion rupiah (105 billion won).
The leadership change comes at a crucial time as the bank seeks to build on its recent successes. With the completion of a next-generation banking system (NGBS) last month, KB Bukopin is poised for further growth. Local media reports suggest that a domestic candidate is being considered to succeed Lee, with a focus on accelerating business expansion through localization.
Meanwhile, the performance of Hana Bank's Indonesian subsidiary has also drawn attention, showcasing a net profit increase of 14.61% year-on-year to 519.4 billion rupiah (approximately 44 billion won) in 2024. This growth was attributed to increased lending across various sectors, including corporate finance, which has played a significant role in boosting overall performance. Jeffri Nugraha, a director at Hana Bank's Indonesian subsidiary, noted that continuous product and service innovation, along with digital finance enhancement strategies, have been key to their success.
As KB Bukopin Bank navigates this transition, stakeholders are keenly observing how the new leadership will shape the bank's future strategy and operational direction. The focus will likely remain on sustaining the recent momentum and ensuring that the bank continues to thrive in the competitive Indonesian banking landscape.
