Company History

PT BFI Finance Indonesia Tbk (“BFI Finance” or “the Company”) was established on 7 April 1982 as PT Manufacturers Hanover Leasing Indonesia, a joint venture with Manufacturer Hanover Leasing Corporation from the United States.
 

Year 1982

  • The Company was established as PT Manufacturers Hanover Leasing Indonesia under the Deed No. 57 dated 7 April 1982, made before Kartini Muljadi, S.H., a Notary in Jakarta, and approved by the Minister of Justice of the Republic of Indonesia by virtue of its Decree No. C2-2091-HT.01.01.TH.82 dated 28 October 1982, and published on the State Gazette No. 102 dated 21 December 1982, Supplement No. 1390.
  • The Company obtained the finance institution business license as a leasing company from the Minister of Finance of the Republic of Indonesia under the Decree No. KEP-038/KM.11/1982 dated 12 August 1982.
     

Year 1986

  • PT Bank Umum Nasional and Essompark Ltd., Hong Kong, took over the ownership of the Company.
  • The Company changed its name to PT Bunas Intitama Leasing Indonesia.
     

Year 1990

  • BFI Finance became one of the first multifinance companies to list its shares at the Jakarta Stock Exchange and Surabaya Stock Exchange (now Indonesia Stock Exchange or IDX), with the share ticker symbol of BFIN.
  • The Company’s name and status was accordingly changed to PT Bunas Finance Indonesia Tbk.
  • The Company altered its operating license to a multifinance company, pursuant to the Decree of the Minister of Finance of the Republic of Indonesia No. 493/KMK.013/1990 dated 23 April 1990.
     

Year 2001

  • The Company successfully completed its financial restructuring which led to a change of its majority shareholder. 
  • The Company changed its name to PT BFI Finance Indonesia Tbk, under the Deed No. 116 made before Aulia Taufani, S.H., substitute of Sutjipto, S.H., a Notary in Jakarta, dated 27 June 2001, and approved by the Minister of Law and Human Rights of the Republic of Indonesia by virtue of its Decree No. C-03668.HT.01.04.TH.2001 dated 24 July 2001 and published on the State Gazette No. 35 dated 30 April 2002, Supplement No. 4195.
     

Year 2006

  • The Minister of Finance of the Republic of Indonesia amended the Company’s business license through the Decree No. KEP- 038/KM.5/2006 dated 20 February 2006 to amend the business license previously granted to PT Bunas Finance Indonesia Tbk to the date of the approval of the Company’s name change to PT BFI Finance Indonesia Tbk.
     

Year 2007

  • BFI Finance earned a long-term national rating of ‘Baa1(id)’ from Moody’s.
     

Year 2011

  • Trinugraha Capital & Co SCA acquired 44.95% of the Company shares.
  • BFI Finance earned a long-term national rating of ‘A(idn)’ from Fitch Ratings.
     

Year 2012

  • Issuance of the Management and Employee Stock Options Program (MESOP) of up to 5% equivalent new shares from the total shares in the Company.
     

Year 2013

  • The Company inaugurated its head office located at BFI Tower, Sunburst CBD Lot 1.2, Jl. Kapt. Soebijanto Djojohadikusomo, BSD City, South Tangerang, Banten Province.
  • BFI Finance earned an upgraded long-term national rating to ‘A+(idn)’ with Outlook Positive from Fitch Ratings.
     

Year 2015

  • The Company conducted stock buyback program to improve its capital management.
     

Year 2016

  • BFI Finance earned an upgraded long-term national rating to ‘AA-(idn)’ with Outlook Stable and its short-term national rating to ‘F1+(idn)’ from Fitch Ratings.
     

Year 2017

  • BFI Finance established a subsidiary, PT Finansial Integrasi Teknologi (FIT), under the Notarial Deed of Herna Gunawan, S.H., M.Kn. No. 4 of 15 September 2017, and approved by the Minister of Law and Human Rights of the Republic of Indonesia under the Letter No. AHU-0043022.AH.01.01.Tahun 2017 dated 29 September 2017. PT FIT is a company that provides IT-based peer-to-peer lending services.
  • The Company obtained shareholders’ approval in the Extraordinary General Meeting of Shareholders (EGMS) on 25 October 2017 to establish the Sharia Supervisory Board.