KB Kookmin Bank Plans to Acquire 95.1% Stake in KB Data Systems Indonesia

【Jakarta, Indonesia—Aulia Maulida Hamdani, Correspondent】KB Financial Group Inc. plans to accelerate the establishment of a local financial holding structure by acquiring a 95.1% stake in its local affiliate, KB Data Systems Indonesia.
According to local media reports on the 17th, KB Kookmin Bank plans to acquire 35,662 shares, or approximately 95.1%, of KB Data Systems Indonesia from KB Data Systems. The acquisition is part of an internal restructuring of KB Financial Group Inc.’s Indonesian operations.
According to a disclosure issued by KB Data Systems Indonesia on the 16th, once the acquisition is completed, KB Kookmin Bank’s direct stake will increase from its current level to 99.99% of the issued and paid-in shares.
The transaction is part of the process of establishing a financial conglomerate under KB Financial Group Inc. in Indonesia. Following the acquisition, KB Kookmin Bank will become the direct controlling shareholder, while ultimate control will remain with KB Financial Group Inc.
Under the plan, local affiliates, including Bank KB Indonesia, will be incorporated under the newly established Indonesian financial holding company. The governance structure is expected to run from KB Financial Group Inc. to KB Kookmin Bank and then to the new Indonesian financial holding company. This arrangement is based on Indonesia’s Financial Services Authority (Otoritas Jasa Keuangan, OJK) Regulation No. 30 of 2024 concerning financial conglomerates and financial conglomerate holding companies. 

[email protected] Aulia Maulida Hamdani, Correspondent Reporter