PT BFI Finance Indonesia Tbk (“BFI” or the “Company”) was set up in 1982 as PT Manufacturer Hanover Leasing Indonesia, a joint venture between Manufacturer Hanover Leasing Corporation from the United States and local partners. It is one of the oldest multifinance companies in Indonesia as well as the first multifinance company to be listed on the Jakarta Stock Exchange and Surabaya Stock Exchange (currently known as Indonesia Stock Exchange or “BEI”). It was listed in May 1990 with ticker code BFIN.
After the Asian Financial Crisis, the Company officially changed its name to PT BFI Finance Indonesia Tbk in 2001.
Today, BFI is 42.8% owned by the consortium of Trinugraha Capital SA (which consists, amongst others, of TPG and Northstar Group). Remaining shares are held by local and foreign institutional shareholders, as well as retail shareholders.
BFI Finance’s business mainly comprises three types of financing. First, working capital, investment, and multipurpose financing for productive necessities such as working capital, investment, and business development, as well as for consumptive necessities like wedding, property renovation, etc. Second, sales and leaseback financing that is provided for buying both new and used equipment to support business productivity, ranging from industrial heavy equipment such as excavator, bulldozer, crane, forklift, various kinds of truck, printing machine, industrial machine, to medical devices. Third, multipurpose financing without collateral for education, vacation trip, and business development for micro, small, and medium enterprises (MSMEs). In 2017, BFI Finance formed Sharia Unit in order to cater people’s needs on sharia-compliant financing.
BFI Finance has the largest distribution network Indonesia, with 232 branch offices and 191 outlets spread across 33 of the country’s 34 provinces, and supported by over 12,127 employees (as of 31 December 2019).