The question of who truly owns Bank Neo Commerce (BBYB) is once again at the forefront, especially after recent shifts in the digital bank’s ownership structure. These behind-the-scenes movements of shares strongly suggest that BBYB is entering a crucial phase of consolidation among its key stakeholders, even as its stock price continues to surge dramatically on the Indonesia Stock Exchange.
Known today for its cutting-edge digital services and millions of users, Bank Neo Commerce has a rich and extensive history. Originally established in 1990 as Bank Yudha Bhakti, it was founded through the initiatives of Perum ASABRI, Pepabri, and Dephankam, primarily serving as the bank for central and main cooperatives within the TNI/Polri (Indonesian Armed Forces and National Police) environment. The institution showcased its resilience by surviving the turbulent 1997–1998 financial crisis, subsequently achieving a Category A rating and embarking on significant expansion across Java and Sumatra.
Transforming into a Digital Bank
The bank’s pivotal transformation into a fully-fledged digital bank took place in 2020. This strategic shift occurred just one year after Akulaku secured its position as a new shareholder through a private placement scheme in 2019. This marked a complete overhaul, with the institution rebranding as Bank Neo Commerce, fully embracing a digital-centric business model, and witnessing its customer base skyrocket to an impressive 23.7 million by 2022.
Currently, the spotlight is once again on BBYB’s shareholder structure. According to a disclosure on November 26, Akulaku Silvrr maintains its firm grip on control. The prominent fintech company holds 4.59 billion BBYB shares, representing 34.45 percent of the total outstanding shares—a commanding majority position that has remained unwavering since its initial investment in the company.
Gozco Increases Shareholding
Further movements are evident with the second-largest majority shareholder, PT Gozco Capital. As of October 31, Gozco held 962 million shares, or 7.21 percent of the total. However, Gozco has since increased its stake to 1.03 billion shares, now accounting for 7.76 percent of the total outstanding shares. This notable increase is widely interpreted by the market as a strong signal of long-term confidence in BBYB’s ongoing transformation trajectory. Adding to the diverse ownership, Rockcore Financial holds a significant 736 million shares, equating to 5.52 percent. Remarkably, the largest portion of BBYB shares—6.96 billion shares, or 52.2 percent—is held by the public, a structure that contributes to BBYB’s high liquidity in the market.
Akulaku Silvrr is well-recognized as a dominant force in digital lending and paylater services through its flagship Akulaku platform. The strategic synergy forged between Akulaku Silvrr and BBYB has served as a powerful accelerator, significantly propelling the digital bank‘s business model forward over the past three years.
Share Price Soars
Since its Initial Public Offering (IPO) in 2015, where 300 million shares were released at Rp 115 each, raising Rp 34.50 billion, BBYB’s journey on the stock exchange has been anything but linear. On Thursday (November 27) trading, BBYB shares surged to Rp 492 per share in the first session, marking a remarkable 24.24 percent increase from its opening price. Year-to-date, the stock has already climbed by an impressive 119.64 percent, a spectacular growth trajectory that has increasingly caught the eye of retail investors.
The aggressive movement of its share price and the dynamic shifts in its ownership structure firmly establish BBYB as one of the most strategic digital banks on the Indonesia Stock Exchange (IDX). Beneath the fluctuating figures, the interplay of interests among its major shareholders underscores that BBYB’s future is set to unfold through further pivotal developments.
Summary
Bank Neo Commerce (BBYB), yang dulunya dikenal sebagai Bank Yudha Bhakti, bertransformasi menjadi bank digital pada tahun 2020 setelah Akulaku menjadi pemegang saham pada 2019. Saat ini, Akulaku Silvrr tetap menjadi pemegang saham mayoritas terbesar BBYB dengan kepemilikan 34,45% dari total saham yang beredar. Sinergi strategis perusahaan fintech ini telah secara signifikan mendorong model bisnis bank digital tersebut.
PT Gozco Capital baru-baru ini meningkatkan kepemilikannya menjadi 7,76%, menjadikannya pemegang saham individu terbesar kedua, sementara Rockcore Financial memegang 5,52%. Menariknya, porsi terbesar saham BBYB sebesar 52,2% dipegang oleh publik, yang berkontribusi pada likuiditas pasar yang tinggi. Di tengah pergeseran kepemilikan ini, harga saham BBYB telah melonjak signifikan, menjadikannya salah satu bank digital strategis di Bursa Efek Indonesia.
