Allo Bank's Future Expansion Plans

Rancakmedia.com – Chairul Tanjung provides clarity on Allo Bank's future expansion plans. Presented a number of strategic initiatives of PT Allo Bank Indonesia Tbk (BBHI) after the issuance of additional capital through the Pre-emptive Rights System (PMHMETD) aka rights issue.

As is known, after this rights issue, the core capital of this digital bank codenamed BBHI will increase to IDR 6 trillion.

Interestingly, investors are interested in participating in the rights issue Hello Banks quite significant. The large number of digital and non-digital companies that have acquired company rights issue shares shows this.

Allo Bank Indonesia Expansion Plan Ecosystem for the Future

At least, there are seven significant investors involved, namely CT Corp, Salim Group, Growtheum Capital Partners, PT Bukalapak.com Tbk (BUKA), Grab, Traveloka, and Carro. The last four names are important participants in Indonesia's digital economy and technology industry, nicknamed unicorns.

"We are certainly very proud that so many companies, both digital and non-digital, are participating in this rights issue," CT said at the Indonesia Stock Exchange, Tuesday (11/1/2022).

Chairul stated, the physical ecosystem owned by PT Allo Bank Tbk (BBHI) would be the largest physical ecosystem in Indonesia if combined with the physical ecosystem of the Salim Group which has the Indomaret physical retail network spread throughout Indonesia.

In a press conference held on Tuesday (11/1/2022) on the Indonesia Stock Exchange, CT said, "Salim has Indomaret, Superindo, other products, if the physical ecosystems are combined, we can already declare we are the biggest physical ecosystem in Indonesia, ”

Allo Bank Indonesia Expansion Plan Ecosystem for the Future

Currently, CT Corp has a broad ecosystem, said Chairul, starting with the Transmart retail network as the largest hypermarket in Indonesia. The company also has a network of food and beverage businesses and digital media businesses, as well as theme parks.

"We feel that our ecosystem is strong, but in the current era of digitalization, collaboration is the key word," said CT.

Targeting 1 Million Customers in the First Week

However, the physical ecosystem alone is not enough, collaboration with the digital ecosystem is essential to complement the two companies. Consequently, Allo Bank welcomes other businesses to join its ecosystem.

“No matter how strong the company's ecosystem is, it still needs cooperation. We invite other ecosystems to build Allo Bank," he said.

As a result, the CT Corp founder welcomed Bukalapak, Grab, and Traveloka to Carro, as well as other digital ecosystem companies.

"The merging of the two ecosystems will become a solid force, an extraordinary one that will be difficult for anyone to match," he said.

Chairul assessed that the arrival of Allo Bank could bring fresh air to investors in Indonesia. "Hopefully it can meet the expectations of investors," he said.

The company plans to launch the app to the public in March, aiming to reach 10 million subscribers in the first year.

"This number will continue to grow, and we are targeting AlloBank to have 50 million customers,"

The Allo Bank application is the work of the Allo Bank developer. Although currently still in the pilot phase, the application has been tested by 43,000 customers within CT Corp's internal environment.

Targeting 1 Million Customers in the First Week

In March 2022, the Allo Bank app will be available to the public for the first time. According to him, “We targeting 1 million accounts in the first week launching,"

Allo Bank's future success is guaranteed by CT. Not only in terms of transactions, but also customers and profitability. This last goal is just as important.

Conclusion

This is because Allo Bank's long-term viability depends in part on its profitability. "In time, we are targeting tens of millions of Allo Bank customers," continued CT.

On Tuesday's trading, BBHI's share price was noted to have jumped to a level of IDR 7,950 per share. As an improvement, Allo Bank now has a market capitalization of IDR 93.17 trillion.

FAQs

Below we have summarized some frequently asked questions about Allo Bank, as follows:

Is the Allo Bank Application Safe?

Allo bank is not fraud, because it has been registered and supervised by the financial services authority (OJK), and Allo Bank is a member of the deposit insurance agency (LPS) guarantee program, so Allo Bank is safe for every customer to use without worrying about fraud.

Conclusion

Chairul Tanjung, Chairman of CT Corp, explained a number of strategic initiatives by PT Allo Bank Indonesia Tbk (BBHI) following the issuance of additional capital through the Pre-emptive Rights (PMHMETD) system.

The core capital of this digital bank codenamed BBHI will increase to IDR 6 trillion. Allo Bank is a test run, but has been tested by 43,000 customers within CT Corp's internal environment.

In March 2022, the Allo Bank app will be available to the public for the first time. On Tuesday, BBHI's share price jumped to a level of IDR 7,950 per share.

Back to top button