Bank Neo Commerce names former HSBC, Maybank exec as new CEO

Photo credit: Bank Neo Commerce

Bank Neo Commerce (BNC), an Indonesia-based digital bank, has appointed Eri Budiono as its new CEO, following the resignation of Tjandra Gunawan in June 2023. The announcement was made during the company’s general shareholders meeting today.

After Gunawan’s exit last year, the CEO role was temporarily filled by Aditya Wahyu Windarwo, who was also the bank’s chief business officer.

Budiono previously served as the head of commercial banking at HSBC and global banking director of Maybank Indonesia. Before being named as CEO of BNC, Budiono was the CEO of Jakarta-based greentech firm TerraThrive.

BNC also announced the appointment of Kreisna Dewantara Gozali as the company’s new commissioner. Gozali is the CEO of Indonesian plantation firm Gozco.

Their appointments will take effect after obtaining approval from the Financial Services Authority following a fit-and-proper test, which the government agency does on execs set to overlook operations of companies that cover areas like insurance, pension funds, and financing.

BNC said that it had around 26 million users as of March 2024. Last year, it disbursed loans totaling 10.8 trillion rupiah (US$663 million), slightly up from US$630 million in 2022.

Meanwhile, the company’s losses in 2023 amounted to US$35.2 million, an improvement of 27% compared to the previous year.

Competition among digital banks in Indonesia has become increasingly intense with the emergence of new players. Most recently, Grab and Singtel-backed Superbank launched its first consumer-focused product, a savings feature that offers an interest rate of 10% per annum.

See also: SEA’s digital banking map unveils bright spot for investors

Currency converted from Indonesian rupiah to US dollar: US$1 = 16,238 rupiah.