Question 1

What is Bank IBK Indonesia?

Accepted Answer

Bank IBK Indonesia is a publicly-traded commercial bank operating in Indonesia with foreign exchange bank status. The bank is a subsidiary of the Industrial Bank of Korea (IBK), which holds a 91.49% ownership stake. Originally founded as a finance company, it evolved into a full-service commercial bank serving both Korean and local Indonesian businesses, as well as retail customers. The bank is listed on the Indonesia Stock Exchange under the ticker symbol AGRS and operates approximately 30 branch offices across Java, Sumatra, and Kalimantan regions.

Question 2

When was Bank IBK Indonesia founded?

Accepted Answer

Bank IBK Indonesia was originally established on November 13, 1973, in Jakarta under the name PT Finconesia, based on the Decree of the Minister of Finance of the Republic of Indonesia No. Kep. 792/MK/IV/12/1970 dated December 7, 1970. At its founding, Finconesia was a finance company with shareholders including Bank Negara Indonesia, Nomura Securities, Barclays Bank International, Manufacturers Hanover International Finance Corporation, Mitsui Bank, Banque Francaise Du Commerce Exterieur, and Commerzbank.

In 1993, Finconesia converted from a finance institution to a commercial bank under the Minister of Finance Decree No. 442/KMK.017/1993 dated March 9, 1993, and was renamed PT Bank Finconesia. The bank underwent another name change in 2008 to PT Bank Agris, and conducted its Initial Public Offering (IPO) on the Indonesia Stock Exchange in December 2014.

In January 2019, the Industrial Bank of Korea (IBK) acquired controlling shares from PT Dian Intan Perkasa. In August 2019, the bank merged with PT Bank Mitraniaga Tbk and officially changed its name to PT Bank IBK Indonesia Tbk, receiving approval from the Financial Services Authority (OJK) on September 4, 2019.

Question 3

Where is Bank IBK Indonesia headquartered?

Accepted Answer

Bank IBK Indonesia is headquartered at Wisma GKBI Suite UG-01, Jalan Jenderal Sudirman No. 28, Central Jakarta, DKI Jakarta 10210, Indonesia. The headquarters location places the bank in Jakarta's central business district along the prominent Sudirman corridor, one of the capital's main commercial areas.

Question 4

Where does Bank IBK Indonesia operate?

Accepted Answer

Bank IBK Indonesia operates approximately 30 branch offices distributed across three main regions of Indonesia. The bank's network spans Java, Sumatra, and Kalimantan islands, focusing on areas with significant commercial activity and concentrations of small and medium-sized enterprises. This geographic distribution allows the bank to serve both Korean companies operating in Indonesia and local Indonesian businesses across key economic zones in the archipelago.

Question 5

What services does Bank IBK Indonesia offer?

Accepted Answer

Bank IBK Indonesia offers a comprehensive range of commercial and retail banking services. Deposit products include savings accounts (IBK Tabungan), current accounts (IBK Giro), time deposits (IBK Deposito), and structured savings plans (IBK Plan/Tabungan Berjangka).

Lending services encompass working capital loans (Kredit Modal Kerja), investment loans (Kredit Investasi), consumer loans, syndicated lending facilities, mortgage loans (Kredit Pemilikan Rumah), and multipurpose credit products. The bank also offers micro-business financing through its Mikro Agris Solusi product.

Trade finance services include letters of credit for both imports and exports, import and export bills, bank guarantees, and remittance services in USD, SGD, and EUR currencies. The bank also provides bancassurance products in partnership with insurance companies.

Digital banking services are delivered through mobile banking and internet banking platforms. The IBK Indonesia mobile app features QRIS payments, fund transfers via BI-FAST, SKN, RTGS and online transfers, e-wallet top-ups (GoPay, OVO, Dana, ShopeePay), NFC-enabled electronic money reloads, utility bill payments, mobile credit top-ups, transaction history access for up to 6 months, and online investment options including electronic time deposits and IBK Plan products.

Question 6

What makes Bank IBK Indonesia unique?

Accepted Answer

Bank IBK Indonesia's distinctive positioning stems from its dual-market strategy and specialized support for cross-border business activities. As a subsidiary of South Korea's Industrial Bank of Korea, the bank leverages its parent company's expertise in small and medium-sized enterprise (SME) banking to serve both Korean companies operating in Indonesia and local Indonesian businesses.

The bank holds foreign exchange bank status (bank devisa), enabling it to conduct international transactions and provide comprehensive trade finance services. This authorization is particularly valuable for companies engaged in import-export activities and cross-border commerce.

The bank's merger history has created a consolidated platform that combines the strengths of multiple institutions, while its publicly-traded status on the Indonesia Stock Exchange provides transparency and access to capital markets. The bank's focus on achieving high loan growth rates among foreign banks in Indonesia demonstrates its competitive positioning and market expansion strategy.

Question 7

What type of financial institution is Bank IBK Indonesia?

Accepted Answer

Bank IBK Indonesia is classified as a Bank Umum (Commercial Bank) in the Indonesian banking system, specifically holding the status of a Bank Devisa (Foreign Exchange Bank). This classification means the bank is authorized to conduct both domestic and foreign exchange transactions, including international money transfers, trade financing, and foreign currency operations.

As a commercial bank, Bank IBK Indonesia is regulated and supervised by the Otoritas Jasa Keuangan (Financial Services Authority/OJK) under Indonesian banking regulations. The bank is also a participant in the Lembaga Penjamin Simpanan (Deposit Insurance Corporation/LPS), which provides deposit protection to customers. The Bank Devisa status distinguishes it from conventional commercial banks by authorizing broader international banking activities, a designation granted by Bank Indonesia to institutions meeting specific capital, governance, and operational requirements.

Bank IBK Indonesia

in Indonesia 🇮🇩

Crypto-Friendliness

All done!

About Bank IBK Indonesia in Indonesia