JAKARTA - On December 16, PT Tifa Finance Tbk (TIFA) earned credit facility from PT Bank MNC Internasional Tbk (BABP). Based on information disclosure on IDX, this facility is a Special Lending Transaction I (PTK I).
The Rp 50 billion credit facility has a tenor of 60 months with an interest of 12.50% per year. The purpose of this credit facility is for financing receivables to individual debtors and business entities or companies.
During the first nine months of 2019, Tifa Finance recorded revenue of Rp 147.95 billion. This achievement decreased slightly compared to the same period last year of Rp 161.71 billion.
Despite declining revenue, Tifa Finance's net profit grew to Rp 26 billion at the end of the third quarter of this year. In the same period last year, the company's net profit was recorded at Rp 23.32 billion. (LM)