PT Bank KB Bukopin Syariah (KB Bank Syariah) has received a national long-term rating of ‘AAA(idn)’ with a Stable outlook from Fitch Ratings Indonesia.

This rating reflects strong confidence in the bank’s financial fundamentals and represents the highest rating assigned on Fitch’s national scale.

Fitch also affirmed KB Bank Syariah’s short-term rating at ‘F1+(idn)’, indicating the highest capacity to meet short-term financial obligations in a timely manner compared to other domestic issuers.

KB Bank Syariah Director Ji Kyu Jang stated that this achievement is a tangible result of the company’s transformation and performance strengthening efforts over the past few years.

“The AAA rating serves as recognition of our commitment to providing the best Islamic banking services and products to our customers,” said Ji Kyu Jang in an official statement on Monday (April 14).

The year 2024 marked a turning point in KB Bank Syariah’s financial performance. The bank recorded a net profit of IDR 11.24 billion, rebounding from a loss of IDR 527.06 billion in the previous year.

This performance was also supported by asset growth, which increased year-on-year (YoY) from IDR 7.92 trillion to IDR 8.64 trillion.

The increase in assets and the return to net profitability serve as key indicators of the success of KB Bank Syariah’s recovery strategy, further strengthening investor and rating agency confidence.

In its report, Fitch stated that KB Bank Syariah’s high rating also reflects a strong likelihood of extraordinary support from its ultimate parent company, Kookmin Bank — one of the largest banks in South Korea.

This support is channeled through PT Bank KB Bukopin Tbk (BBKP), which holds a 95.9% stake in KB Bank Syariah.

“KB Bank Syariah is a strategic subsidiary for KB Bank as it strengthens its presence in Indonesia’s Islamic banking sector,” Fitch stated.

With an increasingly solid foundation and synergy with its global parent company, KB Bank Syariah remains optimistic about continuing its positive growth trend and becoming a key player in the national Islamic finance industry.