One of The Most Diversified Multifinance Companies in The Country
PT BFI Finance Indonesia Tbk (“BFI Finance” or the “Company”) is one of the largest multi-finance companies in Indonesia in terms of assets and operational network. With over 340 outlets nationwide and the support of more than 9,000 employees, the Company focuses on automotive and non-automotive financing, which comprises the financing of four-wheelers, collateralized lending backed by vehicles as well as leasing of equipment, machineries and others. BFI Finance was established in 1982 and has been listed on Indonesia Stock Exchange since 1990 with ticker code BFIN. The Company is rated ‘A+(idn)’ by Fitch Ratings Indonesia.
PT BFI Finance Indonesia Tbk (“BFI Finance” or “the Company”) was
established on 7 April 1982 as PT Manufacturers Hanover Leasing
Indonesia, a joint venture with Manufacturer Hanover Leasing Corporation
from the United States. BFI Finance Indonesia BFIN
Year 1982
- The Company was established as PT Manufacturers Hanover Leasing Indonesia under the Deed No. 57 dated 7 April 1982, made before Kartini Muljadi, S.H., a Notary in Jakarta, and approved by the Minister of Justice of the Republic of Indonesia by virtue of its Decree No. C2-2091-HT.01.01.TH.82 dated 28 October 1982, and published on the State Gazette No. 102 dated 21 December 1982, Supplement No. 1390.
- The Company obtained the finance institution business license as a
leasing company from the Minister of Finance of the Republic of
Indonesia under the Decree No. KEP-038/KM.11/1982 dated 12 August 1982.
Year 1986
- PT Bank Umum Nasional and Essompark Ltd., Hong Kong, took over the ownership of the Company.
- The Company changed its name to PT Bunas Intitama Leasing Indonesia.
Year 1990
- BFI Finance became one of the first multifinance companies to list its shares at the Jakarta Stock Exchange and Surabaya Stock Exchange (now Indonesia Stock Exchange or IDX), with the share ticker symbol of BFIN.
- The Company’s name and status was accordingly changed to PT Bunas Finance Indonesia Tbk.
- The Company altered its operating license to a multifinance
company, pursuant to the Decree of the Minister of Finance of the
Republic of Indonesia No. 493/KMK.013/1990 dated 23 April 1990.
Year 2001
- The Company successfully completed its financial restructuring which led to a change of its majority shareholder.
- The Company changed its name to PT BFI Finance Indonesia Tbk,
under the Deed No. 116 made before Aulia Taufani, S.H., substitute of
Sutjipto, S.H., a Notary in Jakarta, dated 27 June 2001, and approved by
the Minister of Law and Human Rights of the Republic of Indonesia by
virtue of its Decree No. C-03668.HT.01.04.TH.2001 dated 24 July 2001 and
published on the State Gazette No. 35 dated 30 April 2002, Supplement
No. 4195.
Year 2006
- The Minister of Finance of the Republic of Indonesia amended the
Company’s business license through the Decree No. KEP- 038/KM.5/2006
dated 20 February 2006 to amend the business license previously granted
to PT Bunas Finance Indonesia Tbk to the date of the approval of the
Company’s name change to PT BFI Finance Indonesia Tbk.
Year 2007
- BFI Finance earned a long-term national rating of ‘Baa1(id)’ from Moody’s.
Year 2011
- Trinugraha Capital & Co SCA acquired 44.95% of the Company shares.
- BFI Finance earned a long-term national rating of ‘A(idn)’ from Fitch Ratings.
Year 2012
- Issuance of the Management and Employee Stock Options Program
(MESOP) of up to 5% equivalent new shares from the total shares in the
Company.
Year 2013
- The Company inaugurated its head office located at BFI Tower, Sunburst CBD Lot 1.2, Jl. Kapt. Soebijanto Djojohadikusomo, BSD City, South Tangerang, Banten Province.
- BFI Finance earned an upgraded long-term national rating to ‘A+(idn)’ with Outlook Positive from Fitch Ratings.
Year 2015
- The Company conducted stock buyback program to improve its capital management.
Year 2016
- BFI Finance earned an upgraded long-term national rating to
‘AA-(idn)’ with Outlook Stable and its short-term national rating to
‘F1+(idn)’ from Fitch Ratings.
Year 2017
- BFI Finance established a subsidiary, PT Finansial Integrasi Teknologi (FIT), under the Notarial Deed of Herna Gunawan, S.H., M.Kn. No. 4 of 15 September 2017, and approved by the Minister of Law and Human Rights of the Republic of Indonesia under the Letter No. AHU-0043022.AH.01.01.Tahun 2017 dated 29 September 2017. PT FIT is a company that provides IT-based peer-to-peer lending services.
- The Company obtained shareholders’ approval in the Extraordinary
General Meeting of Shareholders (EGMS) on 25 October 2017 to establish
the Sharia Supervisory Board. BFI Finance Indonesia BFIN
Vision :
To become a trusted partner in financial solutions that contributes to the enhancement of peoples standard of living
Mission :
- To provide reliable and effective financial solutions to our customers
- To deliver superior return-on-investment and sustain our reputation as a trusted public company
- To provide an ecosystem that nurtures future leaders of the organization
- To build long-term collaboration with business partners, based on mutual trust and benefit
- To contribute positively to society BFI Finance Indonesia BFIN
Articles of Association
PT BFI Finance Indonesia Tbk (“the Company”) was established as
PT Manufacturers Hanover Leasing Indonesia on 7 April 1982 based on
Notarial Deed No. 57 of Kartini Muljadi, S.H., Notary in Jakarta. The
deed of establishment was approved by the Minister of Justice (recently
known as the Ministry of Law and Human Rights) of the Republic of
Indonesia in its decision letter No. C2-2091-HT.01.01.TH.82 dated 28
October 1982 and was published in the State Gazette No. 102, dated 21
December 1982, Supplement No. 1390. Based on Notarial Deed of Inge
Hendarmin, S.H., Notary in Jakarta dated 14 August 1986, the Company’s
name change from PT Manufacturers Hanover Leasing Indonesia to become PT
Bunas Finance Indonesia Tbk, this amendment was approved by the
Minister of Justice of the Republic of Indonesia in its decision letter
No. C2-9677.HT.01.04.TH.86 dated 7 October 1986 and was published in the
State Gazette No. 94 dated 25 November 1986, Supplement No. 1451. The
Company’s Articles of Association has been amended several times, based
on Notarial Deed No. 116 dated 27 June 2001 of Aulia Taufani, S.H., a
substitute of Sutjipto, S.H., Notary in Jakarta, concerning the change
in the name of the Company from PT Bunas Finance Indonesia Tbk to become
PT BFI Finance Indonesia Tbk. This amendment was approved by the
Minister of Law and Human Rights of the Republic of Indonesia in its
decision letter No. C-03668.HT.01.04.TH.2001 dated 24 July 2001 and was
published in the State Gazette No. 35 dated 30 April 2002, Supplement
No. 4195. The Company’s Articles of Association has been amended several
times. Based on Notarial Deed No. 7 dated October 25, 2017, passed
before Herna Gunawan, S.H., M.Kn., Notary in Tangerang, regarding the
addition of the Company's financing activity based on sharia principles.
The amendment was already approved by the Minister of Law and Human
Rights of the Republic of Indonesia No. AHU-0024031.AH.01.02. TAHUN 2017
and received and recorded in the database of the Legal Entity
Administration System of the Ministry of Law and Human Rights of the
Republic of Indonesia No. AHU-AH.01.03-0191568 dated November 16, 2017.
Currently, the amendment is still in the process of announcement in the
State Gazette. The latest amendment to the Articles of Association was
made by Deed No. 55 dated 25 June 2019 made before Aulia Taufani, S.H.,
Notary in the South Jakarta Administrative City, concerning amendments
to Article 3 of the Company's Articles of Association concerning Purpose
and Objectives and Business Activities. The amendment was approved by
the Minister of Law and Human Rights of the Republic of Indonesia No.
AHU-0033646.AH.01.02. TAHUN 2019 dated 28 June 2019. Currently, the
changes are still in the process of being announced in the State
Gazette. BFI Finance Indonesia BFIN
This value refers to the Company’s commitment to grow all the time; both from quality and quantity sides; in termsof business development and human capital power, of more effective and productive thinking and action, as well as of process and actual work result in supporting the growth of the organization. Commitment for this development is also followed with consistent and sustainable improvement in all aspects, to name a few, the development of organization, business, product, work processes and quality of human capital.
Giving respect and showing care is the Company’s culture that shall be carried out consistently, not only limited to fellow employees but also to many aspects related to the organization. Respect here means to give respect to fellow employees by appreciating any existing differences; both in terms of way of thinking and action; and finding uniformity to build the Company even stronger. Meanwhile, care here means care about the condition and situation of the Company and always take part to support the Company’s accomplishment in any situation.
This value is defined as continuous demand to deliver customer satisfaction. This thinking is essential as the Company’s guidance in preparing the principles of policy and strategy, business activities, decision-making process, and service provision.
Integrity refers to virtue and balance between the perspective, words and acts against the existing situation and condition, including honesty, sincerity, and commitment to a condition. Integrity is also reflected on how employees balance the conformity and consistency between words and conduct (walk the talk) to make the Company efficient and stable. Integrity is visible when doing right and having the courageto admit one’s mistake in order to create a transparent andpositive culture.
Intact and optimum cooperation can be obtained from the trust that is built through various conditions. Mutual trust constitutes the primary capital of the organization to bind and tighten the relationship among fellow employees, between employees and the Company and the other way round. Mutual trust to good faith and positive spirit for the advancement of the organization becomes the groundwork for the establishment of long-term relationship and cooperation. BFI Finance Indonesia BFIN
ENTERPRISE RISK MANAGEMENT
Enterprise Risk Management (“ERM”) is defined as the process of planning, organizing, leading, and controlling the activities of the organization in order to minimize the effects of risk on an organization’s capital and earnings. ERM covers credit, financial (liquidity and financing), operational, regulatory, strategic/business, other risks that the Company faces in its day-to day activities.
BFI employs this holistic approach to manage the risks it faces and their potential impact to financial results. Risk control is conducted by identifying and evaluating the key risks faced by the Company, developing strategies and mitigating controls to manage the risk, and measuring the residual risk after the control is implemented.
The implementation of comprehensive risk management system will
enable the Company to effectively manage risk exposures in order to
achieve predictable portfolio and process performance and maximize
profits.
In the midst of an increasingly competitive marketplace, effective calculated and well-documented risk management practices are the main pillar in the decision-making process. The Company operates in an extremely dynamic environment where business competition is intense, customer demographic is continuously evolving, regulations are changing, and macroeconomic conditions continue to be challenging. It is Senior Management’s responsibility to effectively monitor and manage the risks faced by the Company in order to anticipate potential impacts and implement remedial actions. This in turn will ensure stable and healthy profit growth.
The ERM framework is based on the Three Lines of Defense approach; which consists of risk oversight, control, and management.
First Line of Defense
Business and operating units serve as the first line of defense and are responsible for identifying, evaluating, overseeing, and mitigating risks. Its primary responsibility is to manage risk exposure on day-to-day basis in accordance with the approved target market, policies, and procedures.
Second Line of Defense
The ERM Division, Financial Control Department, as well as the Legal and Litigation Department, constitute the second line of defense by performing an independent oversight function. The ERM Division is responsible for reviewing and approving risk appetite and strategy, as well as working with business and operating units of the Company to ensure that risks can be identified, measure, and managed within the established limits.
The Legal and Litigation Department manages compliance risk and is responsible for ensuring that all prevailing regulations have been disseminated and adhered to by all units.
Third Line of Defense
The Internal Audit Department
independently performs audit and assessments of the processes executed
by the business and operating units. These reviews aim to ensure that
the units carry out their duties and responsibilities in accordance with
the determined policies and procedures. BFI Finance Indonesia BFIN
Automobile Financing
Financing of purchasing new and used four-wheel vehicles from dealer/showroom/individual both for personal or business use with financing period of 1-4 years and fixed rate. BFI Finance Indonesia BFIN
Heavy Equipment, Trucks, and Machineries Financing
PT BFI Finance Indonesia provide investment financing facility to finance all types of new and used capital goods, but can also be the working capital financing in sale and leaseback mechanism.
Type of capital goods financed by PT. BFI Finance Indonesia include:
Heavy EquipmentFinancing heavy equipment for various industrial sectors (Construction, Agribusiness, Agriculture, Oil / Gas, Mining, Ports, Aviation and Tourism) that uses various types of heavy equipment in the operations of his, such as excavators, bulldozers, cranes, heavy trucks, forklifts , and others.
TruckFinancing a truck, we can finance various types of trucks used in various business sectors, such as tank trucks, cargo, dump, trailer, low-bed, flat-deck, and others.
Digital Printing and Printing MachineAs one of the major players in the printing Industry in Indonesia, we have a wide network of cooperation with suppliers selling digital printing machines and printing machines. Financing various types of printing machines that are used both in the process of printing and printing machine supporting.
Industrial MachineryFunding in some business sectors to support production, such as machinery cnc, blowing and molding machines, spinning machines, embroidery machines, textile machinery, garment machinery, generators and other industrial machinery.
Medical DevicesHealthcare Equipment Financing is a financing facility to Hospitals, Clinics, Physician Specialist to invest in the purchase of medical equipment such as X-ray, Dental Chair, Citiscan, MRI and others. BFI Finance Indonesia BFIN
Property Financing
Financing of purchasing used and new property both for personal or business use with financing period of 5 years and floating rate.BFI Finance Indonesia BFIN
Procurement of Goods and Services
Financing of various needs both
consumptive needs (education, health and beauty, wedding, property
renovation, traveling, etc.) or productive needs (business capital and
investment) using collateral of property certificate, proof of two-wheel
or four-wheel motor vehicle ownership (BPKB) or another collateral as
agreed. BFI Finance Indonesia BFIN
PT BFI Finance Indonesia Tbk - Company Profile
