JAKARTA. PT Buana Finance Tbk (BBLD), a consumer finance company, has signed a credit facility agreement with PT Bank QNB Indonesia Tbk (BKSW).

Ahmad Khaetami, Corporate Secretary of BBLD, said that the credit facility was provided by BKSW with a limit of IDR 100 billion. Meanwhile, the tenor given is 48 months.

"The loan facility will be used for the company's working capital needs, namely providing consumer finance credit and financial leases," said Khaetami, in an information disclosure on the Indonesia Stock Exchange (BEI).

In connection with this credit facility, BBLD uses its receivables as collateral.

According to idnfinancials.com data, BBLD has finance lease receivables of IDR 1 trillion as of September 30, 2023. Apart from that, the company also has consumer financing receivables of IDR 3.72 trillion. (KR/LM)