pt.-bank-sumut Research by SuperAGI

Company Profile: PT. Bank Pembangunan Daerah Sumatera Utara (Bank Sumut)

Background

PT. Bank Pembangunan Daerah Sumatera Utara, commonly known as Bank Sumut, is a regional development bank headquartered in Medan, North Sumatra, Indonesia. Established on November 4, 1961, as Bank Pembangunan Sumatera Utara (BPSU), it was restructured into a limited liability company in 1999, adopting its current name. The bank's mission is to support regional economic growth by providing comprehensive banking services tailored to the needs of North Sumatra's population and businesses. Its vision is to become a professional and resilient bank capable of competing both nationally and internationally. Bank Sumut plays a significant role in fostering economic development within its operational area, emphasizing support for small and medium enterprises (SMEs) and individual customers.

Key Strategic Focus

Bank Sumut's strategic focus centers on expanding its credit portfolio, enhancing digital banking services, and strengthening its market position within North Sumatra. The bank aims to increase its market share, which currently stands at approximately 10-12%, by offering a range of financial products and services, including conventional and Islamic banking, to meet diverse customer needs. Key technologies utilized include digital banking platforms and mobile applications to improve customer accessibility and service efficiency. The primary markets targeted are individuals, SMEs, and government agencies within North Sumatra and surrounding regions.

Financials and Funding

In 2022, Bank Sumut reported a net profit of IDR 706 billion, marking a 15.5% increase from IDR 613 billion in 2021. The bank's total assets reached IDR 40.67 trillion in the third quarter of 2022, with total equity amounting to IDR 4.3 trillion. In early 2023, Bank Sumut conducted an initial public offering (IPO), offering 2.93 billion shares at a price range of IDR 350 to IDR 510 per share, aiming to raise up to IDR 1.49 trillion. The proceeds from the IPO were allocated as follows: 80% for expanding the credit portfolio, including working capital loans, investment loans, and consumer loans, and 20% for expanding branch offices and developing information technology for digital banking services.

Pipeline Development

Bank Sumut's pipeline development focuses on expanding its credit offerings to various sectors, including working capital loans, investment loans, and consumer loans. The bank has also been enhancing its digital banking services to improve customer experience and accessibility. While specific details on individual pipeline candidates are not publicly disclosed, the bank's strategic initiatives aim to strengthen its financial position and support regional economic development.

Technological Platform and Innovation

Bank Sumut has been investing in digital banking platforms and mobile applications to enhance customer service and operational efficiency. The bank's collaboration with PT Jalin Pembayaran Nusantara in 2021 enabled its customers to access a broader network of ATMs and digital payment services, reflecting its commitment to technological innovation.

Leadership Team

The leadership team at Bank Sumut includes:

Babay Parid Wazdi: President Director

Hadi Sucipto: Acting President Director

Eksir: Compliance Director

Rahmat Fadillah Pohan: Director of Operations

Aries Barkah: Chief Commercial Officer

Fajar Adimarta: Chief Technology Officer

A. Pawitra: Chief Financial Officer

These leaders play pivotal roles in steering the bank's strategic initiatives and ensuring its growth and stability.

Competitor Profile

Market Insights and Dynamics:

The Indonesian banking sector is characterized by a mix of state-owned, private, and foreign banks, with regional development banks like Bank Sumut focusing on local economic development. The market is competitive, with banks striving to expand their customer base and enhance service offerings.

Competitor Analysis:

Key competitors of Bank Sumut include:

Bank BJB: Assets of IDR 187 trillion

Bank Jatim: Assets of IDR 109 trillion

Bank Jateng: Assets of IDR 88 trillion

Bank DKI: Assets of IDR 82 trillion

Bank Kaltimtara: Assets of IDR 53 trillion

These banks have a significant presence in their respective regions and offer a range of financial products and services.

Strategic Collaborations and Partnerships:

Bank Sumut's partnership with PT Jalin Pembayaran Nusantara in 2021 expanded its ATM and digital payment network, enhancing customer access and service quality.

Operational Insights:

Bank Sumut's strategic focus on expanding its credit portfolio and digital banking services positions it to compete effectively within the regional banking sector. Its emphasis on supporting local economic development and SMEs provides a competitive edge in its operational area.

Strategic Opportunities and Future Directions:

Bank Sumut aims to leverage its IPO proceeds to strengthen its capital base, enabling further expansion of its credit offerings and digital banking services. The bank's focus on technological innovation and customer-centric services positions it well to capitalize on growth opportunities in the evolving financial landscape.