JAKARTA. PT Buana Finance Tbk (BBLD), a leasing and consumer financing company, has signed a term-loan facility agreement with PT Bank JTrust Indonesia Tbk (BCIC).
Ahmad Khaetami, Corporate Secretary of BBLD, mentioned that the total credit granted to the company in the said agreement amounted to IDR 200 billion. The facility, which was obtained yesterday (18/4), is equipped with a tenor of 48 months.
“The said credit facility will be channelled to the company’s working capital needs, including consumer financing and finance lease, guaranteed with the company’s receivables,” Khaetami mentioned in the information disclosure in Indonesia Stock Exchange (IDX).
BBLD previously secured fundings from several banks to fund its working capital. In November 2021, the company acquired a credit facility of IDR 200 billion from PT Bank Victoria Tbk (BVIC), followed by another IDR 250 billion from PT Bank BTPN Tbk (BTPN) in December 2021, and IDR 100 billion from PT Bank OCBC NISP Tbk (NISP) in January 2022.
According to idnfinancials.com data, BBLD’s revenue reportedly declined 14.16% year-on-year (yoy) to IDR 256.67 billion at the end of 2021. Fortunately, its net profit soared 43.14% yoy to IDR 28.70 billion. (KR/ZH)