KB Bank taps first non-Korean chief in Indonesia
Parent company KB Financial Group, Korea's largest financial group, said Tuesday that the board of its Indonesian banking unit approved Kunardy's appointment following the end of former President Director Lee Woo-yeol's term.
Kunrady is the first non-Korean to lead KB Bank since the Korean financial group gained control over the lender in 2018.
Kunardy brings over two decades of experience at global financial institutions operating in Indonesia, with a deep understanding of the local banking sector and expertise in corporate finance, according to KB.
He began his career at Citibank Indonesia, where he held senior positions including managing director and head of corporate and investment banking. He went on to join Deutsche Bank Indonesia in 2014 as managing director and chief country officer, before moving to DBS Indonesia in 2020 as corporate banking director.
Starting his tenure, Kunardy laid out strategic priorities including stabilizing operations and building a sustainable profit base, strengthening cost and risk controls, enhancing governance, deepening ties with government and investors and reinforcing brand trust.
'With the new leader's appointment, KB Bank Indonesia aims to reinforce its localized management approach and accelerate its push to become a sustainable and competitive player in Indonesia's financial sector,' the bank said.
KB Financial Group has designated Indonesia as its 'second home market,' positioning it as a strategic base for future growth and overseas expansion. The group currently operates seven local subsidiaries across banking, securities, insurance and asset management, ultimately aiming to build a comprehensive financial platform by leveraging groupwide synergies.
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