PT BFI Finance Indonesia Tbk (BFI) was established in 1982 as a joint venture company u.n.o. PT Manufacturers Hanover Leasing Indonesia, owned by Manufacturers Hanover Leasing Corporation (MHLC) of USA by 70% and the rest held by Indonesian shareholders. In 1986 MHLC divested all its shareholding and sold it to the Ongko Group.
Initially operated as Leasing company, BFI granted a "Multi Finance" license in 1990, which widens its scope of activities to do leasing, consumer financing and factoring activities. To reflect this new status the Company's name was changed to PT Bunas Finance Indonesia. Later in May 1990, BFI's shares was listed in the Jakarta Stock Exchanged (BEJ) and Surabaya Stock Exchange (BES) respectively.
After undergoing financial restructuring in the year 1998 – 2000 as a result of Indonesian and Asian economic turmoil, BFI completed its financial restructuring process in 2001 and gained strong support from the new shareholders. As a result, BFI emerged as PT BFI Finance Indonesia Tbk., an independent finance company with strong balance sheet, capable professionals and wide business networks to pursue new business opportunities in Indonesia. Furthermore, BFI's business emphasis has shifted to second hand cars for productive and commercial used, particularly in Small and Medium Enterprises (SME) and small individual entrepreneur. This strategy works successfully as shown by the growth, good financial result and sound credit quality.
Currently, with over 90 branches located at strategic cities throughout Indonesia and supported by over 2,000 employees, BFI is able to originate, process and collect receivables throughout the country efficiently and received several awards as an acknowledgement for this result.
