Indonesia's Digital Banks Accelerate Growth Strategies to Achieve KBMI 2 Status

Different Approaches to Strengthening Capital Base

Indonesia's digital banks are taking distinct paths to achieve KBMI 2 classification, a move driven by the Financial Services Authority (OJK)'s potential elimination of the KBMI 1 category and the need for a stronger capital foundation. PT Bank Superbank Indonesia Tbk. (SUPA) has successfully completed its initial public offering (IPO) in December 2025, significantly boosting its core capital to meet the KBMI 2 requirements. In contrast, PT Bank SeaBank Indonesia, backed by Sea Group, achieved KBMI 2 status through organic growth, leveraging its established digital ecosystem.

Superbank's Capital Market Strategy

Superbank's decision to go public not only strengthened its capital structure but also enhanced its market visibility and commitment to transparency. The bank's management emphasized that the IPO proceeds were crucial in meeting the KBMI 2 capital requirements, positioning the bank for further expansion in the competitive digital banking landscape. This approach reflects Superbank's strategy to utilize capital market instruments to fuel its growth ambitions.

SeaBank's Organic Growth Approach

SeaBank, on the other hand, achieved the KBMI 2 classification without relying on external capital injections. By October 2025, the bank had organically grown its core capital to Rp6 trillion, demonstrating the effectiveness of its business model and the strength of its digital ecosystem. SeaBank's management highlighted that this achievement was a result of careful planning and optimization of its existing resources within the Sea Group. The bank is now eyeing further growth and potentially moving to KBMI 3 by year-end.

Industry Context and Regulatory Perspective

The OJK has been encouraging consolidation among banks, particularly those in the KBMI 1 category, to enhance their capital base and improve their ability to support national economic growth. The regulator views larger banks as more efficient and better equipped to invest in technology and digital infrastructure. According to Dian Ediana Rae, OJK's Executive Head of Banking Supervision, the consolidation is necessary to create banks that can drive economic growth through increased lending and investment in digital banking capabilities.

Implications for Digital Banking Sector

The contrasting strategies employed by Superbank and SeaBank highlight the diverse approaches available to digital banks aiming to strengthen their positions. While Superbank opted for the capital market route, SeaBank leveraged its ecosystem strengths. This divergence underscores the importance of tailored strategies that align with each bank's unique strengths and market positioning. As the digital banking landscape continues to evolve, the ability to adapt and innovate will be crucial for sustained success.