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Recording Positive Performance, KoinWorks Continues to Optimize the Development of Its Digital Bank Line

KoinWorks Bank is the result of the founder's acquisition of BPR Asri Cikupa; The last three months have recorded business profits

KoinWorks Bank, which recently acquired by the founder of KoinWorks Group, announced the achievement of making profits for three consecutive months. In order to improve service to customers, KoinWorks Bank will also soon move its head office to Bumi Serpong Damai (BSD), South Tangerang.

As an important step in the digital banking transformation in Indonesia, KoinWorks Bank, which initially operated as the Asri Cikupa People's Economic Bank (BPR), is now transforming into a digital bank.

KoinWorks Bank provides various financial products, including deposits with competitive interest rates guaranteed by the Deposit Insurance Corporation (LPS) and loans secured by fixed assets through a fast and easy approval process.

KoinWorks Bank Co-Owner Benedicto Haryono and CEO of KoinWorks Group stated, "Through KoinWorks Bank, we believe that the ability to provide fast and safe financial services will have a big positive impact in improving the financial welfare of the Indonesian people. Our services here will also facilitate MSMEs can be served optimally to encourage their business growth."

In the productive asset quality report submitted to the Financial Services Authority (OJK) for the first quarter of 2024, KoinWorks Bank recorded a profit of IDR 1,2 billion with return on assets (ROA) of 2,73%, increasing drastically from minus ROA (-10,4%) during the transition period to become KoinWorks Bank in October 2023.

The ratio of operating expenses to operating income (BOPO) was successfully reduced to 77,3% at the start of this year, with credit growth reaching 134%.

President Director of KoinWorks Bank Joko Purwanto added, "KoinWorks Bank continues to move and process to become a large bank with quality growth, and continues to strengthen its foundation through human resource development, improving business infrastructure, risks and operations, as well as relationships with stakeholders. In the near future we will move our head office to BSD and will immediately operate to serve our customers."

KoinWorks Bank also plans to integrate its customer portfolio into KoinWorks application, in collaboration with PT Sejahtera Lunaria Annua as KoinWorks application manager. This step will allow users to manage their assets in one integrated KoinWorks ecosystem.

KoinWorks Bank is optimistic that it can continue to provide the best service to its customers and become a large bank that grows healthily and with quality. With a solid and experienced team, KoinWorks Bank is ready to continue to innovate and expand the reach of its services in Indonesia.

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Disclosure: This article was produced with AI technology and supervision of the content writer
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