Bank Woori Indonesia

What Bank Woori Indonesia does

PT Bank Woori Saudara Indonesia 1906, Tbk (IDX: SDRA) is an Indonesia-based publicly listed commercial bank operating in the KBMI 2 category, with origins dating to 1906 and the current entity formed following the 2014 merger between PT Bank Himpunan Saudara and PT Bank Woori Indonesia, both now operating under majority ownership of Woori Bank Korea. The bank serves Indonesian retail, corporate, SME, government, pension, and Korean-business community customers through a hybrid distribution model: 30+ branches and 100+ sub-branch offices across Java, Bali, Sumatra, and Sulawesi, 40+ on-site corporate ATMs at manufacturing sites, and full-stack digital banking channels including the WON by BWS mobile application (with biometric login, Soft Token, and QRIS), BWS Internet Banking Individu (IBI) for individuals, and BWS Internet Banking Bisnis (IBB) for corporate customers with Maker-Checker-Realizer authorization workflows.

The bank's core technology stack comprises a core banking platform supporting individual and corporate accounts, integrated interbank routing via SWIFT, SKN-BI, BI-RTGS, BI-ETP, and BI-SSSS systems, BWS Flazz contactless debit cards, and digital onboarding with KYC photo/selfie verification. Product offerings span retail deposits (savings accounts in IDR/USD across multiple variants including TabunganKu, Tabungan SimPel, Tabungan TKI), corporate deposits (Giro Perusahaan), time deposits in IDR/USD, traditional credit products, treasury and international banking (foreign exchange, trade finance, export-import services), wealth management (bancassurance, stock referral, SBN Retail distribution), and payment services (EDC terminals, virtual accounts, payroll, and QRIS including cross-border).

The bank's revenue model is dominated by interest income from credit facilities and deposits, supplemented by transaction and service fees from digital and ATM-based transactions, trade finance commissions, wealth management referral revenues, and quarterly dividend distributions to shareholders from net profit (FY2024 payout Rp 117.54 billion). Strategic positioning centers on MSME financing, inclusion banking, cross-border Korea-Indonesia trade, and government/pension disbursement services (notably ASABRI), supported by consistent 'Sangat Bagus' performance ratings from Infobank for 25+ consecutive years and active JIBOR contribution to Bank Indonesia.

Name

Bank Woori Indonesia

Legal name

PT Bank Woori Saudara Indonesia 1906, Tbk

Website

https://bankwoorisaudara.com

Company type

Public

Founded year

1906

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

PT Bank Woori Saudara Indonesia 1906, Tbk is an Indonesian publicly listed commercial bank (IDX: SDRA), majority-owned by Woori Bank Korea since 2014, serving retail, corporate, SME, government/pension, and Korean-business customers through 30+ branches, 100+ sub-branches, and full digital banking across Indonesia.

Ownership category

akta.pro rank

Product category

Commercial Banking

NAICS

Commercial Banking (52211), Commercial Banking (522110)

SIC

State Commercial Banks (6022)

akta.pro primary industry

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

akta.pro secondary industry

SME Cash Management & Payments (Merchant, ACH/Wires, Payroll) (FSABABAD)

Keywords

• Retail banking services
• Corporate banking services
• Digital banking platform
• Trade finance services
• Sme lending

Headquarters

HQ city

Jakarta

HQ country

Indonesia

HQ region

Asia

Offices32 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Interest Income (Credit/Loans): The primary revenue stream for the bank — interest earned on loans and credit facilities extended to retail, SME, and corporate customers. The bank publishes Base Lending Rates (SBDK) monthly.
2. Interest Income from Deposits: Interest earned on customer deposit balances (savings, current accounts, time deposits) maintained at the bank.
3. Transaction & Service Fees: Fees from digital banking transactions (IBI, IBB, mobile banking), ATM withdrawals at non-BWS ATMs, transfers (SWIFT, RTGS, KLIRING), bill payments, and EDC transactions. Fee schedule is publicly available.
4. Digital Banking & New Account Fees: Revenue from account service charges, new account opening fees, and digital product fees.
5. Trade Finance & International Banking Services: Fees from export/import services, LC issuance, and international wire transfer services.
6. Wealth Management & Insurance Distribution: Revenue sharing from Bancassurance (life/health insurance products sold through the bank), stock referral programs, and SBN Retail (Government bonds) distribution.
7. Dividend Income to Shareholders: The bank distributes dividends to shareholders from net profit. For FY2024, paid Rp117.54 billion (Rp8/share) on 22.77% payout ratio. For FY2023, total dividend Rp235.62 billion (Rp27.5/share) including interim dividend. The bank has maintained consistent annual dividend distributions since at least 2011.

Pricing tiers

Go-to-market motion1 record

Distribution channels9 records

Marketing channels9 records

Core offering

Bank Woori Saudara Indonesia 1906 is a publicly listed Indonesian commercial bank (IDX: SDRA) that accepts deposits (savings, current accounts, IDR/USD time deposits), extends credit (retail, SME, corporate, home loans), and provides payment, treasury, trade finance, and wealth management services to individuals, SMEs, corporates, and government entities through a 30+ branch and 100+ sub-branch network, a 40+ ATM network, and full digital banking channels (BWS Mobile, IBI, IBB) integrated with QRIS, ATM Bersama, Prima, and SWIFT/RTGS/KLIRING interbank systems.

Product overview

Bank Woori Saudara operates as a unified banking platform offering a comprehensive suite of digital and traditional banking products. The core digital banking channels include BWS Mobile Banking (WON by BWS) for smartphone users, Internet Banking Individu (IBI) for individual web users, and Internet Banking Bisnis (IBB) for corporate customers. These are complemented by card products including BWS Debit Card with BWS Flazz e-money integration. On the deposit side, the bank offers various savings accounts (Tabungan Woori Saudara, Tabungan Premium, Tabungan Cerdas, Tabungan Harian, Tabungan SimPel, TabunganKu, Tabungan TKI), current accounts (Giro Perorangan and Giro Perusahaan), and time deposits (Deposito Berjangka). The corporate banking division provides Treasury & International Banking services, export-import services, EDC terminals, transfer services (inkaso/kliring), virtual accounts, and payroll services. All digital channels enable bill payments for utilities (PLN, water, internet), mobile credit, e-wallet top-ups (DANA, OVO, GoPay, ShopeePay, LinkAja), and ticket purchases.

Differentiator

Problem solved

Functional benefit

Brands

• WON by BWS: Mobile banking application with biometric login features
• BWS Mobile Banking
• BWS Internet Banking
• BWS Debit
• BWS Flazz

Products and services

• BWS Mobile Banking (WON by BWS) Mobile banking application for individual customers enabling account management, intra-BWS and interbank transfers (ATM Bersama/Prima, SWIFT, KLIRING, RTGS), bill payments (PLN, PAM, telco, TV, internet), pulsa/data purchases, e-wallet top-ups (DANA, OVO, GoPay, ShopeePay, LinkAja), virtual accounts, deposits, and QRIS transactions. Features biometric login (selfie/E-KTP verification) and Soft Token authentication.
• Internet Banking Individu (IBI) Web-based internet banking service for individual customers accessible via https://ib.bankwoorisaudara.com, supporting non-financial transactions (balance inquiry, mutation history) and financial transactions (transfers, payments, purchases). Secured via SMS Token or Soft Token.
• Internet Banking Bisnis (IBB) Corporate internet banking service for business customers at https://ibb.bankwoorisaudara.com, supporting multi-user with Maker-Checker-Realizer authorization levels, batch transfers, payroll, account sweeping, and virtual accounts. Uses Hard Token for authentication.
• BWS Debit Card with BWS Flazz ATM and debit card integrating BWS Flazz contactless e-money technology. Individual customers can link up to 4 BWS accounts to a single debit card; non-individual customers link 1 account. Usable at BWS ATMs and ATM Bersama/Prima networks.
• BWS Flazz Electronic money card with Flazz technology for contactless payments and top-ups, integrated with BWS debit card for transit and retail payments.
• Tabungan Woori Saudara Savings account in IDR and USD currencies offered to individual customers as the bank's flagship savings product.
• Tabungan Premium, Tabungan Cerdas, Tabungan Harian Various specialized savings account products targeting different customer segments with varying interest rates and features.
• Tabungan SimPel (Simpanan Pelajar) Savings account designed for students and youth with simplified KYC requirements.
• TabunganKu Government-backed basic savings account for underbanked populations in Indonesia.
• Tabungan TKI Savings account specifically designed for Indonesian migrant workers (Tenaga Kerja Indonesia).
• Giro Perorangan & Giro Perusahaan Current account products for individual (Giro Perorangan) and corporate (Giro Perusahaan) customers, available in IDR and USD currencies.
• Deposito Berjangka Time deposit product available in IDR and USD currencies with tenor options from 1 to 24 months. IDR rates (as of 02/03/2026): 1M=3.75%, 3M=3.85%, 6M=4.05%, 9M=3.90%, 12M=4.00%. USD rates: 1M=2.75%, 3M=3.00%, 6M=3.25%, 9M=3.25%, 12M=3.25%.
• Treasury & International Banking Foreign exchange, trade finance (ekspor-impor services), and international transaction services including SWIFT transfers for corporate customers.
• Layanan Ekspor Impor Import and export financing services including letters of credit, documentary collections, and trade finance solutions for corporate customers engaged in international trade.
• Electronic Data Capture (EDC) Point-of-sale terminal services enabling merchant payment acceptance for retail and business customers.
• Layanan Transfer (Inkaso & Kliring) Interbank fund transfer services including clearing (Kliring) and collection (Inkaso) services for corporate and retail customers.
• Virtual Account Virtual account number service enabling business customers to receive payments from their customers with reconciliation support.
• Payroll Service Bulk salary disbursement service enabling corporate customers to disburse employee payroll to multiple BWS and interbank accounts.

Quantifiable outcome

• Cash dividend of Rp117.54 billion distributed for FY2024 (22.77% payout ratio, Rp8/share), paid 6 May 2025
• +4 more outcomes

Named customers11 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Lembaga Penjamin Simpanan (LPS) — Indonesia Deposit Insurance CorporationcoreOthersBank Woori Saudara is an active participant in the LPS deposit insurance scheme, which guarantees customer deposits up to IDR 2 billion per depositor per bank. This is a regulatory requirement for all banks operating in Indonesia, providing a safety net that enhances customer confidence.
• Otoritas Jasa Keuangan (OJK) and Bank Indonesia (BI)coreOthersBank Woori Saudara is authorized and supervised by the Financial Services Authority (OJK) and Bank Indonesia as a commercial bank. The bank is listed on the Indonesia Stock Exchange (IDX: SDRA) and complies with all POJK regulations including Recovery Action Plan requirements (POJK No. 5/2024).
• PT Rintis Sejahtera (Jaringan ATM PRIMA)coreChannel Partner/ Reseller/ DistributorBWS participates in the ATM Bersama and PRIMA ATM networks, allowing its cards to be used at thousands of ATMs across Indonesia. The bank received the '5 Years Appreciation Customer Loyalty Award' from PRIMA in 2021 and the 'Prima 10th Years Appreciation Customer Loyalty Awards' in 2026, reflecting a 10+ year partnership.
• J.P. Morgan (Correspondent Banking)coreTechnology or IntegrationBWS maintains a correspondent banking relationship with J.P. Morgan for US Dollar clearing and international wire transfers. The bank has received multiple 'Elite Quality Recognition Awards' from JP Morgan for its MT202 Straight Through Processing (STP) rates of 99.61-100% in 2020, 2022, 2023, and 2025, demonstrating high operational quality in international transactions.
• PT Sinartama Gunita (Securities Administration Bureau)minorOthersSecurities administration bureau supporting the bank's shareholder registry and stock administration functions as a publicly listed company on IDX.
• Suharli, Sugiharto & Rekan / KMPG (Public Accounting Firm)minorOthersThe bank's external auditor, located at UOB Plaza, Jakarta. Provides independent financial statement audit services.
• PT Fitch Ratings Indonesia (Credit Rating Agency)minorOthersCredit rating agency providing independent credit assessments of the bank.
• QRIS (National QR Code Standard — BI/ASPI)coreTechnology or IntegrationBWS participates in QRIS, Indonesia's national QR code payment standard managed by Bank Indonesia and ASPI (Asosiasi Sistem Pembayaran Indonesia). The bank supports both Customer Presented Mode (CPM) and cross-border QR payments.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Bank Rakyat Indonesia (BRI): Indonesia's leading micro, SME, and consumer bank and the dominant player in inclusive financing. Directly comparable in SME/micro lending focus, where BWS has also been recognized, but operates at vastly larger scale (KBMI 4) and is the benchmark in the segment BWS targets.
• Bank Mandiri: Indonesia's largest state-owned bank and a KBMI 4 player with comprehensive commercial banking services. Directly comparable as a large commercial bank, though significantly larger in scale; competes in corporate banking, trade finance, and government-related disbursements where BWS also operates.
• Bank Central Asia (BCA): Indonesia's largest private commercial bank by market cap, providing full retail, SME, and corporate banking across the country. Comparable as a publicly listed commercial bank, but operates at a materially larger scale (KBMI 4) and competes with BWS in retail deposits, SME lending, and digital banking.
• Bank HSBC Indonesia: Global bank with Indonesian operations focused on corporate, investment, and trade finance as well as premium retail. Comparable to BWS's Treasury & International Banking division and corporate services, though operates more as a global bank; competitor in cross-border trade and Korean corporate banking (HSBC has Korean coverage too).

Direct peers

• Bank OCBC NISP: Singapore-affiliated (OCBC Group) commercial bank serving retail, SME, and corporate customers in Indonesia. Comparable to BWS as a foreign-controlled mid-tier commercial bank with similar focus on SME lending, digital banking, and corporate services; one of the closest direct competitors in size and strategy.
• Bank CIMB Niaga: Major private commercial bank with strong corporate, consumer, and Sharia banking franchises, owned by CIMB Group (Malaysia). Comparable to BWS in being a foreign-affiliated commercial bank targeting similar retail, SME, and corporate segments; competes in trade finance and digital banking.
• Bank KEB Hana Indonesia: Korean-affiliated (KEB Hana Bank) commercial bank in Indonesia, focused on corporate banking for Korean companies and local SMEs. Direct competitor to BWS in the Korean-affiliated banking space; similar size profile and serves a comparable Korean-Indonesia customer base.
• Bank Maybank Indonesia: Malaysia-affiliated (Maybank Group) commercial bank with comprehensive retail, SME, and corporate banking services. Comparable to BWS as a foreign-owned mid-tier bank serving similar segments; competes in trade finance, treasury, and Islamic banking.
• Bank Danamon: Mid-sized private commercial bank in Indonesia offering retail, SME, and corporate banking. Closely comparable to BWS in scale, product mix, and target segments, with similar focus on automotive/consumer credit and SME financing; one of the most direct competitors for BWS in the KBMI 2/3 mid-tier segment.
• Bank Shinhan Indonesia: Korean-affiliated (Shinhan Financial Group) commercial bank in Indonesia serving Korean corporates, SMEs, and local retail. One of the most direct competitors to BWS given the Korean heritage overlap, particularly in serving Korean-invested manufacturers (PT Hankook, PT Daelim-style clients) and Korean-Indonesia trade flows.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@bankbws
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• Instagraminstagram.com/bankbws
• TikToktiktok.com/@bankbws

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bank Woori Indonesia