Buana Finance secures a credit facility of IDR 250 billion from Bank Jago
JAKARTA. PT Buana Finance Tbk (BBLD), a financing company listed in Indonesia Stock Exchange since 1990, has just received a credit facility worth IDR 250 billion from PT Bank Jago Tbk (ARTO).
Mariana Setyadi, Director of BBLD, revealed that said facility agreement was signed on June 15, 2022. In this contract, the company is said to be granted a tenor of up to 48 months.
“The limit of this facility is a combination between limits of term-loan facility and term promissory loan obtained by the company from Bank Jago,” Setyadi explained in the information disclosure in Indonesia Stock Exchange (IDX).
In the future, Setyadi said that BBLD will utilise ARTO’s credit facility to fund its working capital, including consumer financing.
Based on idnfinancials.com data, BBLD has already acquired another facility worth IDR 500 billion from PT Bank Danamon Tbk (BDMN) in April 2022. Then, in January 2022, the company also secured a credit facility of IDR 100 billion from PT Bank OCBC NISP Tbk (NISP).
In 2021, BBLD’s revenue was depleted 14.16% year-on-year (yoy) to IDR 256.67 billion. Fortunately, it still managed to record a net profit growth of 43.14% yoy to IDR 28.70 billion. (KR/ZH)