TANGERANG SELATAN - PT BFI Finance Indonesia Tbk (BFI Finance) and PT Bank Rakyat Indonesia (Persero) Tbk (BRI) signed a cooperation agreement in motor vehicle credit services with a facility limit of up to Rp 1 trillion.
This facility cooperation has been going on since 2010 with a total cumulative limit of more than Rp 3 trillion. "This cooperation agreement shows the high confidence in BFI Finance from the banking industry. This also proves that the longstanding good relationship between BFI Finance and BRI is up to now," said Sudjono, Finance Director of BFI Finance.
The period for implementing this cooperation is up to 24 months from the date of agreement signing. Withdrawal tenor is calculated up to 48 months per each withdrawal. BFI Finance will use this facility to support quality motor vehicle financing for the community, while still implementing prudential principles in financial and risk management in order to maintain a healthy performance of the Company.
At this time, BFI Finance obtained support from domestic and foreign banking credit facilities (both bilateral and syndicated facilities) as well as bond issuance which will be used to support financing business activities in the fourth quarter of 2020 and for 2021. (LM)