Business · Companies · 6 hrs ago
Indonesia Plans Cooperative Consortium to Buy KB Bank Assets
Indonesia's Cooperatives Minister Ferry Juliantono says a consortium of cooperatives may buy KB Bank assets.
The bank, now controlled by South Korea's KB Kookmin Bank, was formerly known as Bukopin.
Bukopin was founded by Indonesian cooperative groups in 1970 to support small and medium-sized businesses.
The plan fits the government's stated aim of giving cooperatives a larger role in the economy.
The ministry is preparing the consortium, but no purchase has been completed.
Juliantono says the cooperatives would also manage the assets, though the sources do not give a timetable or details of what would be bought.
Indonesia’s Cooperatives Minister Ferry Juliantono says his ministry is preparing a consortium of cooperatives to buy assets of KB Bank.
The consortium is also expected to manage subsidiaries linked to KB Kookmin, the bank’s South Korean parent.
Juliantono says the plan aims to revive cooperative involvement in Bukopin, which was historically owned by cooperative umbrella groups.
The proposal is part of the government’s wider effort to strengthen cooperatives alongside private companies and state-owned enterprises.
KB Bank was established as Bank Umum Koperasi Indonesia, or Bukopin, in 1970.
- Who
- Indonesia’s Cooperatives Minister Ferry Juliantono and a planned consortium of cooperatives.
- What
- The ministry is preparing a consortium to buy KB Bank assets and manage related subsidiaries.
- When
- Juliantono announced the plan on November 9 and 10, 2026.
- Where
- Indonesia. The announcement was made at events in Jakarta.
- Why
- Juliantono says Bukopin was historically owned by cooperative umbrella groups and the plan would restore cooperative involvement in the bank.
This story does not have two clearly opposing sides.
Bukopin was established by a group of cooperative umbrella organizations to support small and medium-sized businesses.
Bukopin completed an initial public offering and listed on the Indonesia Stock Exchange under the ticker BBKP.
Kookmin Bank began buying shares in Bukopin through a rights issue.
OJK formally approved KB Kookmin Bank as Bukopin’s controlling shareholder.
Ferry Juliantono said the Cooperatives Ministry was preparing a consortium to buy KB Bank assets.
- Minister
- Ferry Juliantono
- Bank
- PT Bank KB Indonesia Tbk, known as KB Bank; ticker BBKP
- Planned buyers
- A consortium of cooperatives
- Parent company
- KB Kookmin Bank
- Established
- Bukopin was founded on July 10, 1970
2 sources
What people are saying
We will take part in buying the assets of Bank Bukopin or Kookmin because Bank Bukopin used to be owned by cooperative umbrella groups
We hope there will be a consortium of cooperatives that will buy the assets and also manage again the subsidiaries of Bukopin, Kookmin, KB Kookmin