This financing collaboration with Bank Jago alias ARTO is not recorded for the first time for HDFA, because in the first quarter of 2021 Bank Jago also distributed working capital loans of Rp. 150 billion.
Issuer of financing PT Radana Bhaskara Finance Tbk. (HDFA) or Radana Finance received a working capital credit facility of Rp500 billion from PT Bank Jago Tbk. (ARTO).
Radana Finance Director of Finance Rizalsyah Riezky explained that this loan facility reflects the bank's trust in HDFA, especially after recording a positive performance last year.
"This Rp500 billion credit facility will be used to finance working capital needs for factoring financing and asset-based financing," he said in an official statement, Thursday (26/5/2022).
For information, throughout last year Radana Finance distributed new financing of Rp1.48 trillion, growing by 255 percent ( year-on-year / YoY) compared to the pandemic period. Rizal revealed that this year his party is targeting new financing of IDR 2 trillion or at least growing by 30 percent (YoY).
This performance brought an increase in assets of 66 percent (yoy) to Rp1.28 trillion. The net profit of the leasing part of the heavy equipment company Trakindo Group and Rubicon Investment (Archipelago Capital Partner) was also steady, amounting to Rp. 34.7 billion, after previously posting a loss for 3 years.
Meanwhile, in the first quarter of 2022, HDFA seemed to be able to boost asset performance to Rp1.32 trillion. Meanwhile, the profit of IDR 8.9 billion in the first quarter of 2022 was also recorded better than the first quarter of 2021, which was IDR 7.18 billion.
"By obtaining this credit facility from Bank Jago, we hope to provide positive things for the Company and we are optimistic that this will be a good step to cooperate with other banking partners to meet the Company's funding targets," he added.
Radana Finance's Business Director, Milokevin Wendiady added that to achieve the new financing target, his party will continue to focus on 2 main productive financing products, namely factoring financing and asset-based financing.
This focus will also be supported by continuing to innovate products, improve end-to-end business processes, and optimize digital and automation processes to support business.
"We always strive to improve performance to achieve the targets that have been set, and will continue to innovate and collaborate with more banking partners and partners, to jointly assist the government's program in accelerating economic recovery after the Covid-19 pandemic, as well as promoting economic equality. for all Indonesian people," he said.
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