Bank Jatim Holds Annual General Meeting of Shareholders (AGMS), Distributes IDR 821 Billion in Dividends and Nominates Winardi Legowo as President Director Candidate

Date: 22 may 2025

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SURABAYA, May 22, 2025 – PT Bank Pembangunan Daerah Jawa Timur Tbk (Bank Jatim) has held its Annual General Meeting of Shareholders (AGMS) for the 2024 fiscal year. The event took place at the Bromo Room, Bank Jatim Headquarters in Surabaya on Thursday (22/5). East Java Governor Khofifah Indar Parawansa was present at the AGMS, representing the East Java Provincial Government as the controlling shareholder, along with all members of the board of commissioners and directors of Bank Jatim.

The AGMS agenda for the 2024 fiscal year included:

  1. Approval of the Annual Report of the Company on its condition and performance during the 2024 fiscal year, including the Supervisory Report of the Board of Commissioners and ratification of the Company's Financial Statements for 2024;

  2. Determination of the use of the Company's net profit for the 2024 fiscal year, including bonuses for employees and remuneration for the Board of Directors and Commissioners;

  3. Authorization to the Board of Commissioners to appoint a Public Accounting Firm to audit the Company’s financial statements for 2025;

  4. Amendments to the Company's Articles of Association;

  5. Approval of the Recovery Plan;

  6. Changes to the Company's management structure.

Governor Khofifah stated that the AGMS was not only a corporate accountability forum but also a reflective moment for Bank Jatim's role in driving the regional economy and supporting East Java’s development transformation.
“East Java is currently positioned as the economic center of gravity of Indonesia, as nearly 80% of logistics for Eastern Indonesia is supplied from East Java. This momentum is clear evidence of the good synergy between stakeholders, including regional banks like Bank Jatim,” she explained.

Khofifah noted that East Java's economic growth remained positive and stable in 2024 despite global challenges. According to the Central Statistics Agency (BPS), East Java's economy grew by 4.93% (semester-to-semester) and by 5% year-on-year in Q1 2025, above the national average. This achievement was driven by strong investment acceleration, with realized investments in 2024 (both foreign and domestic) reaching IDR 147.3 trillion, a 1.5% increase from 2023, contributing 8.6% to national investment.

These achievements reflect investor confidence in East Java’s stable and inclusive business climate. Bank Jatim’s support in financing and adaptive banking services is crucial to maintaining this momentum.
“We have declared East Java as the new gateway of the archipelago. This is not just a development slogan but a strategic direction that positions East Java as a key logistics hub for maritime industry and digital transformation in Eastern Indonesia,” Khofifah emphasized.

She underlined the crucial role of the financial services sector, including regional banks, in supporting East Java’s development strategies. There has been significant growth in financial services, especially to empower MSMEs, which currently contribute nearly 60% to East Java’s regional GDP. According to data from the Financial Services Authority (OJK), East Java has consistently been the province with the highest MSME credit disbursement in Indonesia for five consecutive years.

“This trend reflects sustainable policy implementation and increased access for MSMEs to formal financing sources,” she added. These results stem from strong commitment and synergy among local governments, OJK, and financial institutions in strengthening MSMEs as the backbone of the regional economy.

Khofifah also highlighted Bank Jatim’s concrete actions, such as its support for the MSME Capital Solution Movement (Gaspol UMKM), which promotes financial inclusion in the real sector. This initiative showcases Bank Jatim’s commitment to supporting MSMEs, a pillar of economic resilience in East Java.

On internal performance, Bank Jatim recorded an audited net profit of IDR 1.28 trillion in 2024 – the highest among all regional banks in Indonesia.
“Though some areas require corrections and improvements, we should appreciate Bank Jatim’s performance while remaining cautious in adhering to prudent banking principles,” Khofifah said.

In terms of overall performance in 2024, Bank Jatim’s total assets increased by 13.76% to IDR 118.1 trillion. This indicates successful business expansion and continued trust from customers and investors. Third-party funds also grew to IDR 90.016 trillion, while credit disbursement rose significantly to IDR 75.35 trillion, reflecting Bank Jatim’s focus on the real and productive sectors.

“This proves that Bank Jatim remains resilient, competitive, and committed to sustainable growth. Its strategic step towards Bank Business Group (KUB) synergy also deserves appreciation,” she added, noting the innovation in expanding regional bank reach and competitiveness while maintaining governance and prudence.

She concluded that with East Java’s maritime, logistics, industrial, and digital strengths, Bank Jatim will play a key role as a driver of inclusive and equitable development.
“Bank Jatim is not just a regional bank—it’s a driving force behind East Java as the new gateway of the archipelago, moving toward a more connected, resilient, and growing Indonesia. May Bank Jatim continue to grow as a financially sound and socially impactful institution,” she concluded.

Outgoing President Director Busrul Iman shared that 2024 was a challenging year for the financial industry. The dynamic economic conditions required the company to constantly adapt to sustain growth and provide value to shareholders and stakeholders.
“In the midst of those challenges, Bank Jatim made history as a large corporate entity thanks to support from the East Java Provincial Government, all city/regency governments in East Java, and OJK as the regulator,” he said.

In 2024, Bank Jatim successfully executed its Bank Business Group (KUB) corporate action with Bank NTB Syariah, fulfilling the AGMS 2022 resolution. The collaboration is a joint effort with several regional banks to create long-term synergy in capital, finance, business, and other supporting areas.
“In 2025, we will continue the KUB process with other BPDs such as Bank Lampung, Bank NTT, Bank Sultra, and Bank Banten,” he added.

Busrul emphasized Bank Jatim’s vision to be the No. 1 Regional Development Bank (BPD) in Indonesia in terms of performance, human resources, technology, and organization. The KUB initiative is a game changer that goes beyond financial gains—it fosters a spirit of cooperation among regional-owned enterprises (BUMD) for national progress.

In line with OJK’s BPD Roadmap Blueprint, Bank Jatim is preparing to collaborate with local government-owned rural banks (BPR) and strengthen East Java’s financial ecosystem to uplift the local economy together.

The bank is also adapting to shifts in customer behavior and the business environment through digital transformation. In 2024, Bank Jatim supported various systems such as the Regional Government Information System (SIPD), Regional Government Transaction Electronification (ETPD), and Village Financial System (SISKEUDESLINK). It also continued developing its digital services under the “JConnect” brand to ease transactions and support business processes, including credit applications.

In addition to its physical branch network, the bank has expanded through "AGEN JATIM" to serve high-potential business areas. In 2024, the bank allocated IDR 118.47 billion to enhance digital service performance through capital and IT operational expenditures.

Bank Jatim remains committed to being a top-performing, professional regional-owned enterprise and a key economic driver in East Java. This includes profit distribution in the form of dividends. For the 2024 fiscal year, the bank declared dividends of IDR 54.71 per share—up from IDR 54.39 per share in 2023—bringing the total dividend distribution to IDR 821,497,900,066.22, or 64.12% of 2024’s net profit. The steadily rising dividend makes BJTM stock one of the most attractive investment choices for the public.

This year’s AGMS also brought changes to the company’s leadership. President Director Busrul Iman was honorably discharged as his term ended. The company expressed deep gratitude for his dedication and service to Bank Jatim.

Additionally, Edi Masrianto, Eko Susetyono, and Zulhelfi Abidin were honorably discharged.

Following the 2024 AGMS, the new composition of Bank Jatim’s Board of Commissioners and Directors is as follows:

Board of Commissioners

  • Candidate for President Commissioner (Independent): Adi Sulistyowati

  • Commissioner: Adhy Karyono

  • Independent Commissioner: Muhammad Mas’ud

  • Independent Commissioner: Dadang Setiabudi

  • Commissioner Candidate (Independent): Asri Agung Putra

  • Commissioner Candidate (Independent): Nurul Ghufron

Board of Directors

  • President Director Candidate: Winardi Legowo

  • Deputy President Director Candidate: R. Arief Wicaksono

  • Director of Micro, Retail, and Sharia Business Candidate: Tonny Prasetyo

  • Director of Compliance: Umi Rodiyah

  • Director of Finance, Treasury & Global Services Candidate: RM Wahyukusumo Wisnubroto

  • Director of Medium, Corporate, and Network Business: Arif Suhirman

  • Director of IT, Digital, and Operations Candidate: Wiweko Probojakti

  • Director of Risk Management Candidate: Wioga Adhiarma Aji

Sharia Supervisory Board

  • Chairman: Dr (HC) KH Afifuddin Muhajir, M.Pd.

  • Supervisory Board Member Candidate: Prof. Dr. Muhammad Nasih, SE, M.T, Ak

  • Supervisory Board Member Candidate: Ir. H. Tamhid Mashudi