Bank Jakarta Ready For IPO Next Year, President Director: Focus On Fundamental Improvements

Illustration of Bank DKI Jakarta (ANTARA)

JAKARTA - Bank Jakarta President Director Agus H. Widodo admitted that his party was making a number of preparations to take the floor on the public offering (IPO). The plan to sell the initial shares is an order from the Governor of DKI Jakarta, Pramono Anung, to be realized next year.

"We continue to prepare. Later, we will inform (the certainty of the IPO time)," Agus told reporters, Friday, July 18.

Agus claimed that the preparation for the banking transformation towards the IPO was carried out thoroughly. This includes strengthening governance, risk management, and professional work culture. Then, accelerate digital transformation and integration of ecosystem-based services.

Then, modernize IT infrastructure and increase cyber security. Furthermore, the strengthening of intermediation functions, credit productivity, and the acquisition of cheap funds in a sustainable manner.

"We don't want to be careless either. We have to improve fundamentals and so on. Everything is now under fundamental improvement. So that investors are sure of us," said Agus.

Previously, DKI Jakarta Governor Pramono Anung targeted PT Bank DKI, which now has a new branding as Bank Jakarta, to be listed on the stock exchange or conduct an initial public offering (IPO) next year.

"I personally and Bang Dul (Deputy Governor of Jakarta Rano Karno) have very high hopes for Bank Jakarta to become a professional bank, a bank that is truly trusted by the public. The main task of the directors and ranks of Bank Jakarta is to prepare for the IPO next year," said Pramono, some time ago.

Pramono assessed that Bank Jakarta could start offering its initial shares to the public if banks were managed professionally. He emphasized the importance of public supervision of state-owned banks so that transparency is maintained and the IPO target is met.

"Bank Jakarta must be able to as soon as possible. I'm sure Bank Jakarta can. The keywords remain professionalism and the people who manage it," said Pramono.

In addition, Pramono hopes that Bank Jakarta will not be the pride of Jakarta, but also be able to compete globally. "I want Bank Jakarta to become a professional bank and make Jakarta residents proud, and be able to advance to class," he added.