KBANK Tops Shareholding in Indonesia’s “Bank Maspion” to 84%

Kasikorn Public Company Limited (SET: KBANK) had informed the Stock Exchange of Thailand that on November 17, 2023, KASIKORN VISION FINANCIAL COMPANY PTE. LTD. (KVF) and PT. KASIKORN VISION FINANCIAL INDONESIA (KVFI), which are KBANK’s subsidiaries, has acquired additional shares in PT Bank Maspion Indonesia Tbk, Indonesia, in accordance with the Capital Increase with Pre-emptive Rights III (“PMHMETD III”) of PT Bank Maspion Indonesia Tbk.

As a result, KBANK, directly and indirectly, holds shares in PT Bank Maspion Indonesia Tbk, Indonesia, amounting to 84.55% of the total issued and fully paid-up capital.


In addition, in December 2022, KASIKORN VISION FINANCIAL COMPANY PTE. LTD. had been approved by the Central Bank of Indonesia and completed the process of purchasing additional shares in PT Bank Maspion from the previous shareholding of 9.99% to 67.5% with an investment value of $186.5 million or more than THB6,500 million. This led KBANK to be the controlling shareholder of PT Bank Maspion, holding assets of $888 million or THB31.1 billion with 50 branches around Indonesia.

Moreover, KBANK also unveiled the first Quick Response Code Indonesia Standard Service or QRIS, a payment system for products and services, at PT Bank Maspion after purchasing additional shares in a total amount of 67.5%. The system is aimed to help minor customers and businesses to be able to easily access financial opportunities.


KBANK will also leverage its vast pool of customer base to create business networks as a leading bank in the region with its advantage on modern technology and expertise in financial innovation to elevate PT Bank Maspion to be the biggest bank in East Java and one of 20 biggest banks in Indonesia from the amount of granting loans within 2027.