JAKARTA. PT Buana Finance Tbk (BBLD) has secured a credit facility from Central Java Regional Development Bank (lit. Bank Pembangunan Daerah Jawa Tengah) and Bank QNB Indonesia worth IDR 180 billion. This facility will be used to enhance its working capital, or its credit disbursement, to be exact.
Based on the information disclosure in Indonesia Stock Exchange (IDX) yesterday (28/11), PT Bank Pembangunan Daerah Jawa Tengah (BPD Jateng) has granted IDR 80 billion loan to BBLD, while PT Bank QNB Indonesia Tbk (BKSW) channelled another loan of IDR 100 billion.
Ahmad Khaetami, Corporate Secretary of Buana Finance, revealed that BPD Jateng has given the loan with a tenor of 60 months, while Bank QNB Indonesia’s loan has a 48-months tenor. The credit facility agreement was signed with BPD Jateng on November 24, 2022, followed by the signing of the facility agreement with Bank QNB Indonesia on November 25, 2022.
Until Q3 2022, BBLD’s performance was satisfactory, scoring a current year’s net profit of IDR 51.31 billion, or 316% (year-on-year/yoy) higher from IDR 12.3 billion. Furthermore, its revenue also climbed 7.92% to IDR 440.68 billion in Q3 2022 from IDR 408.31 billion seen in the same period last year. (AM/ZH)