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Photo courtesy of JB Financial Group |
[Alpha Biz= Paul Lee] JB Financial Group has officially entered the Indonesian financial market through the acquisition of KB Bukopin Finance. The group is also partnering with AI fintech company AIZEN Global to establish a localized financial service model.
On July 24, JB Financial Group Chairman Kim Ki-Hong announced the acquisition of an 85% stake in KB Bukopin Finance — a subsidiary of KB Bank Indonesia — for approximately KRW 29 billion. JB Woori Capital signed the share purchase agreement on July 1. The deal is expected to undergo a regulatory review process in Indonesia that may take up to one year.
Additionally, on July 22, JB Financial secured a 40% stake in AIZEN Global. The company operates a unique business model that involves purchasing electric bikes and leasing them to major ride-hailing platforms such as Grab and Gojek. It collects and analyzes non-financial data generated during vehicle operation, providing valuable insights to financial institutions.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
