Jakarta. State-owned Bank Negara Indonesia has secured a $600 million (Rp 9.5 trillion) loan facility from six international banks to support its refinancing needs and general funding requirements

BNI's Director of Wholesale and International Banking, Agung Prabowo, explained that this loan facility will positively impact the company’s financial condition. "This facility not only strengthens our liquidity but also supports our long-term financial stability. We remain committed to maintaining healthy and sustainable growth," said Agung on Monday.

The loan agreement, signed on Nov.8 has a four-year tenor. The loan is unsecured, meaning BNI does not need to provide collateral to access the funds. Agung added, "This reflects the high level of trust international financial institutions have in BNI's financial condition and growth prospects."

The six institutions involved in this loan facility, acting as Mandated Lead Arrangers & Bookrunners (MLAB), include Oversea-Chinese Banking Corporation Ltd., Bank of America National Association-Singapore Branch, CIMB Bank Berhad Singapore Branch, CTBC Bank Co Ltd., DBS Bank Ltd., and The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch. Meanwhile, Bank DBS Indonesia will act as the agent for the loan facility.

With this loan facility, BNI aims to continue supporting various financial needs, both for internal business development and funding for customers, both domestic and international. "We are optimistic about our continued contribution to advancing the national economy and strengthening the competitiveness of Indonesian banking on the global stage," concluded Agung.

BNI posted a net profit of Rp 16.3 trillion for the third quarter of 2024, marking a 3.5 percent year-on-year (YoY) increase from the same period last year. The bank’s loan disbursements reached Rp 735 trillion, up 9.5 percent y-o-y, primarily in the corporate and low-risk segments.

Savings and deposits reached Rp 769.7 trillion, a 3 percent increase from the previous year, with low-cost funds (CASA) growing by 5.5 percent Yy-o-y to Rp 541.19 trillion as of September 2024. Meanwhile, total assets grew to Rp 1,068 trillion as of Q3 2024, reflecting a 5.8 percent increase compared to Q3 2023.

Add as a preferred source on Google +