JAKARTA - PT Adira Dinamika Multi Finance Tbk (ADMF) assesses that Bank Indonesia’s (BI) policy of loosening the loan to value (LTV) for motor vehicles will give more flexibility for the company’s joint financing segment with PT Bank Danamon Tbk (BDMN). Currently the segment takes up 43% of the Adira Finance’s total financing.
“The policy has more impact on bank financing, because the financing we obtain from bonds and the likes can be lowered to even 0% per OJK (Financial Services Authority) regulations for non-banks,” Adira Finance President Director Hafid Haeli told IDNFinancials.com after the company’s EGM at the Le Meridien Hotel, Central Jakarta on Thursday (24/10).
“The impact is largely on financing, which means that our joint financing with Bank Danamon will have more flexibility and can be disbursed more.”
In September this year BI announced the relaxation of the LTV ratio for mortgage down payment by 5% and motor vehicle down payment by 5%-10% as well as the relaxation of financing to value (FTV) ratio by 5% for environmentally-friendly properties and motor vehicles. The policy is due to take effect starting from December 2, 2019. (MS)