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EMBRACING
PROGRESS
PT BFI Finance Indonesia Tbk 2024 Integrated
Annual Report
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EMBRACING
PROGRESS
To embrace progress is firstly to understand that it is a process—one
that knows no fixed endpoint, or expects a final destination. Rather,
this process is about advancing—a refinement of qualities, an evolution
of presence. For us at BFI Finance, embracing progress means
acknowledging that the road is lined with obstacles, each one a catalyst
for growth, awaiting to be overcome. Progress is rarely linear; adversity
abounds, setbacks are inevitable. Yet, as BFI Finance have advanced, we
have not merely moved forward through time and climbed above our
industry peers. We also have continuously sharpened our expertise and
fine-tuned our operations with the wisdom we gained along the way.
For 42 years cultivating our presence in the multifinance industry, we
have harnessed technology and automation, strengthened data integrity
and governance, equipped and empowered our people, and vastly
enhanced our offerings. Every transformation we have undergone has
propelled us forward, and with each step, we push further—towards even
greater achievements.
DISCLAIMER
PT BFI Finance Indonesia Tbk (BFI Finance or the Company) has ensured the accuracy of the information contained in this Integrated
Annual Report. However, the Company does not guarantee the appropriateness, accuracy, usefulness or any other matter regarding
this information. This Integrated Annual Report contains some forward-looking statements about the Company’s future expectations,
plans, and strategies that are not historical facts. They are based on current expectations, estimates, forecasts, and projections about the
business and environment in which the Company operates and beliefs and assumptions made by management. As these expectations,
estimates, forecasts, and projections are subject to a number of risks, uncertainties, and assumptions, actual results may differ materially
from those projected. The Company, therefore, cautions readers not to place undue reliance on forward-looking statements. The Company
undertakes no obligation to update any forward-looking statements as a result of new information, future events or other developments. Any
reliance placed on the Integrated Annual Report and Financial Statements is done entirely at the risk of the person placing such reliance.
Additionally, numbers represented throughout this Integrated Annual Report have been rounded up to the closest million or billion rupiah,
and as such, there may be discrepancies in percentage change calculations compared to when calculated using full figures from the Annual
Financial Statements.
2 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
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2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 3
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TABLE OF CONTENTS
ABOUT THIS REPORT 02
Embracing Progress 02 Sharia Supervisory Board Profiles 69
Introduction to Integrated Reporting 06 Committees of the Board of Commissioners Profiles 70
Summary of Integrated Annual Report 2024 08 Audit Committee 70
Risk Oversight Committee 72
Summary of 2024 Sustainable Performance 10
Nomination and Remuneration Committee 73
Senior Management Profiles 74
01 2024 PERFORMANCE HIGHLIGHTS 12 Corporate Structure 76
Subsidiaries and Associated Entities 77
2024 Key Highlights 14
Key Financial Highlights 16
Share Highlights 18
04 MANAGEMENT DISCUSSION AND
Bonds Highlights 19
ANALYSIS 82
Important Events in 2024 20
Industry Overview 84
Awards and Recognition 25
Business Review 86
Transformation 93
02 REPORTS TO STAKEHOLDERS 26 Operations 94
Customer Service 96
Report of the Board of Commissioners 28
Marketing 98
Report of the Board of Directors 32
Financial Performance Review 100
Responsibility of Integrated Annual Report 38
Consolidated Statement of Financial Position 100
CEO Farewell Note 40 Consolidated Statement of Income and Other
Comprehensive Income 110
Consolidated Statement of Cash Flows 114
03 COMPANY PROFILE 42 Analysis of Key Ratios 115
Comparison of Achievements Against Targets in 2024 117
General Company Information 44
Capital Structure 118
Company Vision and Mission 46
Material Investment on Capital Goods 118
Sustainability Vision and Mission 47
Events After the Reporting Period 119
Brief Company History 48
Dividends 119
Milestones 50
Use of Public Offering Funds 120
Core Values and Corporate Culture 52
Material Investment, Divestment, Merger & Acquisition,
Corporate Identity 54 and Debt or Capital Restructuring 120
Line of Business 54 Transactions with Potential Conflicts of Interest and
Related Parties 120
Map and Operational Network 56
Impact from Regulatory Changes on the Company 121
Organization Structure 58 Accounting Policy Changes 122
Workforce Profile 60 2025 Business Prospects 123
Board of Commissioners Profiles 63
Board of Directors Profiles 66
4 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
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05 GOOD CORPORATE
GOVERNANCE 124
Good Corporate Governance Report 126 BOC and BOD Performance Assessment 207
Sustainability Governance 129 Meetings of the BOC, BOD, and Joint Meetings
of the BOC and the BOD 208
General Meeting of Shareholders 131
Audit Committee 211
Board of Commissioners 134
Risk Oversight Committee 214
Board of Directors 136
Nomination and Remuneration Committee 216
Sharia Supervisory Board 137
Access to Information and Communication 219
Audit Committee 139
Code of Conduct and Corporate Culture 223
Risk Oversight Committee 140
Anti-Corruption Policy 225
Nomination and Remuneration Committee 141
Procurement Policy 225
Corporate Secretary 142
Information Disclosure Policy 226
Internal Audit 143
Public Accountant Services 227
Internal Control System 146
Capital Market Supporting Institutions and Professions 228
Risk Management 147
Transparency of Financial and Non-Financial Conditions
Legal Cases 151
Not Disclosed in Other Reports 229
Administrative Sanctions 151
Statement of Implementation of the Corporate Governance
Investor Relations 152 Guidelines for Public Companies 229
Compliance 153 Addresses of Outlets 232
Whistleblowing System 156 Glossary 245
06 SUSTAINABILITY 158
Sustainability Strategy 160 08 ANNUAL FINANCIAL
Human Capital 164 STATEMENTS 248
Environmental Performance 170
Consolidated Financial Statements for
Social Performance 174 the Year Ended 31 December 2024 and
Independent Auditors’ Report 250
Responsibility for Sustainable Product/
Service Development 179
APPENDICES 368
07 CORPORATE DATA 180
Feedback Form 368
Share Ownership Composition 182 Cross Reference OJK Circular No.16/SEOJK.04/2021
Controlling Shareholder Profile 184 on Form and Content of Annual Reports of Issuers or
Public Companies 369
Ultimate Beneficial Owners 184
Cross Reference OJK Regulation No.51/POJK.03/2017
Management and Employee Stock Ownership Program (MESOP) 185 on Implementation of Sustainable Finance for Financial
Services Institutions, Issuers, and Public Companies 381
Chronological Listing of Shares and Changes in Number of Shares 185
Chronological Listing of Other Securities 188
Board of Commissioners 190
Board of Directors 196
BOC and BOD Remuneration 206
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 5
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About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
INTRODUCTION TO
INTEGRATED REPORTING
The 2024 Annual Report of PT BFI Finance Indonesia Tbk is Integrated Thinking: A Holistic Approach
presented an Integrated Report.
The concept of integrated reporting has been espoused Integrated thinking is a multi-capital management
by BFI Finance since 2016, with the publication of its 2016 approach that enables organizations to deliver their
Integrated Annual Report. Since then, the Company has purpose to benefit their key stakeholders over time. It
aligned and updated its reporting practices with the emphasizes creating and preserving value and improving
following reporting criteria and standards: decision-making based on interconnected, multi-capital
information. This approach is fundamental to the Integrated
1. SEOJK No. 16/2021 on Form and Content of Annual
Reporting Framework which BFI Finance adopted as it
Report of Issuers or Public Companies;
encourages us to think and report beyond traditional
2. POJK No. 51/2017 on Implementation of Sustainable
financial metrics and take into account broader factors
Finance for Financial Services Institutions, Issuers, and
such as social, intellectual, and environmental capitals.
Public Companies;
3. Statements of Financial Accounting Standards (PSAK)
and Interpretation of Financial Accounting Standards
Incorporating integrated thinking into business practices
(ISAK), issued by the Indonesian Financial Accounting
supports BFI Finance in addressing complex challenges
Standards Board (DSAK) of the Institute of Indonesia
and opportunities in a cogent and comprehensive
Chartered Accountants (IAI);
manner. By adopting the Integrated Thinking Principles—
4. Integrated Reporting International <IR> Framework,
namely Purpose, Governance, Culture, Strategy, Risks &
issued in January 2021 by the International Integrated
Opportunities, and Performance—our business will be
Reporting Council (IIRC, now part of the IFRS
able to optimize the ability to create value over the long
Foundation); and
term, understanding the trade-offs made across various
5. Integrated Thinking Principles v1.0, issued in December
resources and relationships.
2021 by the Value Reporting Foundation (now part of
the IFRS Foundation).
Graph 1 | Integrated Thinking
RNAL ENVIRONMENT
EXTE
THE CAPITALS
Financial
Manufactured
CA
Intellectual
PR
PI
IN Human
TA
Social & Relationship
LS
CI
PL
BUSINESS Natural
OUTPUTS &
ES
MODEL
OUTCOMES
THE PRINCIPLES
TAN Purpose
GIBL
E VAL
INTA UE Governance
NGIB
LE VAL
UE Culture
Strategy
Risks & Opportunities
Performance
VALUE CREATION
FOR THE ORGANIZATION
AND ITS KEY STAKEHOLDERS
Source: IFRS Foundation – https://integratedreporting.ifrs.org/integrated-thinking/
6 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
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Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
Graph 2 | The Interplay of Multiple Capitals in Company Value Creation
EKSTERNAL ENVIRONMENT
PURPOSE, MISSION, VISION
GOVERNANCE
Financial Financial
RISKS AND STRATEGY AND
OPPORTUNITIES RESOURCE LOCATION
Manufactured Manufactured
BUSINESS MODEL
Intellectual BUSINESS Intellectual
ACTIVITIES OUTCOMES
(Positive and
Negative over
INPUTS the short,
medium and
long term)
OUTPUTS
Human Human
Social and Social and
Relationship PERFORMANCE OUTLOOK Relationship
Natural Natural
VALUE CREATION, PRESERVATION OR EROSION OVER TIME
Source: International <IR> Framework, Integrated Reporting – https://integratedreporting.ifrs.org
Benefits and Long-term Goals of Integrated About This Integrated Report
Reporting and Thinking
The 2024 Integrated Annual Report of PT BFI Finance
Our Company believes that by adopting the Integrated Indonesia Tbk reports the Company’s performance of
Reporting and Thinking framework and principles, we can: value creation in the aspects as described in the above
• Enhance Decision-Making: Integrated Thinking fosters framework. The scope of this report is the Company and
a more holistic view of our organization, leading to its subsidiary, PT Finansial Integrasi Teknologi (FIT), whose
better-informed decisions that consider a wide array of financial results are consolidated into the Company’s. The
factors, from financial to environmental. period covered in this report is from 1 January 2024 to 31
• Promote Sustainable Business Practices: We will December 2024. The Company publishes its integrated
align our practices with global trends emphasizing reporting on an annual basis.
sustainability, which in turn will empower us in
adapting to environmental and social risks and
opportunities.
• Create Long-term Value: By considering multiple
capitals under our control, we can focus on creating
value not just financially but also in terms of social,
intellectual, and environmental impacts.
• Improve Stakeholder Engagement: Our integrated
report provides stakeholders with a more
comprehensive view of our strategy, performance, and
prospects.
• Uphold Transparency and Accountability: This
approach promotes greater transparency in our
reporting, allowing our stakeholders to see clearly and
understand the full spectrum of our activities and
impacts.
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 7
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About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
SUMMARY OF INTEGRATED
ANNUAL REPORT 2024
Subject Matter
The 2024 Integrated Annual Report of PT BFI Finance Indonesia integrates both the Company’s annual and sustainability
reports, consisting of nine chapters on the Company’s business and non-business related discussions, as follows:
1. About This Report
2. 2024 Performance Highlights
3. Reports to Stakeholders
4. Company Profile
5. Management Discussion and Analysis
6. Good Corporate Governance
7. Sustainability
8. Corporate Data
9. Annual Financial Statements
In addition to the printed form, this report is accessible online on the Company’s website:
https://www.bfi.co.id/en/corporate/Investor-Relations/Annual-Sustainability-Report
Refereces
The main references used in the making of the 2024 Integrated Annual Report of PT BFI Finance Indonesia Tbk are the
regulations issued by regulators or authorities concerning publication of annual report by public companies or issuers and
international standard guideline for sustainability reporting, among others:
1. Law No. 40/2007 on Limited Liability Companies (UU PT);
2. POJK No. 29/POJK.04/2016 on Annual Report of Issuers or Public Companies;
3. POJK No. 51/POJK.03/2017 on Implementation of Sustainable Finance for Financial Services Institutions, Issuers, and
Public Companies;
4. SEOJK No. 16/SEOJK.04/2021 on Form and Content of Annual Report of Issuers or Public Companies;
5. Regulations related to stock exchange and capital market issued by IDX; and
6. Other laws, POJK, SEOJK, and regulations which become the references for the content and discussion material in the
integrated annual report.
Sustainability Element
The inclusion of the Sustainability chapter in the Integrated Annual Report is a form of compliance with
POJK 51/POJK.03/2017 on Implementation of Sustainable Finance for Financial Services Institutions, Issuers, and Public
Companies, as affirmed by SEOJK 16/SEOJK.04/2021.
Sustainable Finance is a comprehensive support from the financial services sector to create sustainable economic growth
by aligning economic, social and environmental interests.
Various sustainability elements are integrated into the Company’s annual reporting using the Integrated Thinking
approach.
8 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
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Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
Company Capital
Referring to the Integrated Thinking approach, the Company’s business processes involve six main types of capital, namely:
Financial Manufactured Intellectual
Human Relationship & Social Natural
Company Stakeholders
Given BFI Finance’s line of business as a multifinance company, and its alignment with the six main types of capital, the
Company’s business and non-business performances and achievements create added value to its main stakeholders, who
are, among others:
Customers Shareholders/ Employees
Investors
Regulators General Public Environment Business Partners
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 9
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About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
SUMMARY OF 2024
SUSTAINABLE PERFORMANCE
Sustainability Statement • Procured products and services from 8,853 businesses
across Indonesia, thereby driving the country’s
We conduct a responsible business that elevates the economic growth;
livelihoods of our customers by providing them with access • Contributed to the surroundings’ social betterment
to financial empowerment through financing products, and environmental conservation through our CSR and
with a consideration on the betterment of society and financial literacy activities and tax payments to the
conservation of the environment. government; and
• Created attractive shareholder value and returns for our
investors grounded upon our industry standing and a
BFI Finance’s Value Distribution high dividend payout ratio.
By conducting business in the multifinance industry in
Indonesia, in 2024 the Company: Financial Value Creation and Distribution
• Provided financing products to more than 441 thousand
customers in 35 provinces in Indonesia to augment their BFI Finance creates financial value and capital through its
economic capability; various business processes, and distributes this to different
• Disbursed financing of more than Rp12.2 trillion to stakeholders via various means and in various forms. The
support the advancement of MSMEs in Indonesia; amount of financial value that BFI Finance distributed over
• Employed upwards of ten thousand personnel and the past three years is detailed below (in Rp million):
supported their families’ livelihoods;
Tabel 1 | Financial Value Distribution
Description (Rp million) 2022 2023 2024
Revenue 5,383,010 6,353,113 6,335,070
Shareholders/Investors 570,747* 902,363** 827,166***
Employees 1,324,648 1,457,103 1,517,239
Business Partners and Other Operations 1,816,258 2,869,264 2,889,093
Government 432,002 381,453 361,940
Surrounding Communities 3,423 1,494 2,124
Business Continuity 1,806,679 1,643,799 1,564,674
* Final dividend for 2021 paid in 2022 and interim cash dividend for 2022, including Article 26 Income Tax on Dividend
** Final dividend for 2022 paid in 2023 and interim cash dividend for 2023, including Article 26 Income Tax on Dividend
*** Final dividend for 2023 paid in 2024 and interim cash dividend for 2024, including Article 26 Income Tax on Dividend
10 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
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Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
Table 2 | Capital Utilization and Value Creation For Stakeholders
Utilization and Value Creation Explained in
Type of Capital Form of Capital Beneficiary Stakeholders
Activity Chapter
Financial Normal business activities,
adjustments of business
Financing facility
strategy to the developments of Customers, Shareholders/
digital transformation Investors, Suppliers, 2, 3, 4, 5, 9
Business Partners
Business strategy execution
Equity
Manufactured Expansion of physical and
digital presence, strengthening
Operational
of origination and collection 2, 3, 4, 5, 7
business network
capabilities, and ecosystem-
based partnerships Customers, Shareholders/
Investors, Employees,
Organizational restructuring,
Operational Suppliers, Business
investment, development, and 2, 3, 4, 5
infrastructure Partners
optimization
Development and investment
Information
in IT, cybersecurity 2, 3, 5
technology (IT)
reinforcement
Intellectual Development of a robust and
Business model Customers, Shareholders/
adaptive business model
Investors, Employees,
Ongoing transformation 2, 3, 4, 5
Suppliers, Business
Digitalization through business process Partners
digitalization
Human Enhancement of welfare,
engagement, professional
Employees 2, 3, 4, 7
capability, occupational health
and safety
Application of “BFI New Employees, Regulators
Work culture 4, 7
Mindset” by all employees
Enhancement and alignment
Employment
with the prevailing standards 7
practices
and best practices
Relationship & Support to government
Social Partnership with initiatives and programs for
Regulators 2, 5, 6, 7
the government national welfare, compliance
with regulations
Improvement of quality
of healthcare, education,
Interactions with
and community welfare in
surrounding General Public 7
Indonesia through various
communities
well-targeted sustainability
programs
Scholarship Ongoing implementation and General Public,
expansion 7
programs Employees
Formulation, implementation, General Public 7
CSR programs evaluation, and continuous
Natural improvement Environment 7
Resources usage reduction and
Resources
optimalization, supported by Environment 7
utilization
technology
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 11
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01
PERFORMANCE
HIGHLIGHTS
2024
12 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
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2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 13
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About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
2024
KEY HIGHLIGHTS
Income
(Rp billion)
2024 6,335 0.3%
Managed Receivables by Asset Type
2023 6,353
2022 5,383
8.9
Assets
6.9 (Rp billion)
2024 25,120 4.7%
15.5
% 68.7 2023
2022
23,992
21,930
Net Financing Receivables
(Rp billion)
2024 22,096 6.4%
2023 20,759
2022 19,562
Heavy Equipment Car
and Machinery
Profit for the Year
(Rp billion)
2024 1,565 4.8%
Motorcycle Property
and Others
2023 1,644
2022 1,807
ROAA (%) ROAE (%) NPF (%)
2.70
2.44
21.9 2.32
12.2 17.7
15.7
8.4
8.0 1.36
15.0
1.25
14.4 13.8
1.00
5.7
5,7 5.6
5,6 5.0
5,0
2022 2023 2024 2022 2023 2024 2022 2023 2024
Industry Average BFI Finance
14 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
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Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
Throughout Indonesia,
including 45 sharia
representative branches
sharing premises with
conventional branches
Outlet Region
267 • Java, Bali &
Nusa Tenggara
Outlets (including Greater
Jakarta) 51.7%
Shareholders
• Eastern Indonesia
Trinugraha Capital & Co SCA
5.81 (Sulawesi, Maluku,
PT BFI Finance Indonesia Tbk * Papua) 19.1%
Others • Sumatra 18.0%
(each below 5%)
• Kalimantan 11.2%
%
* Result of the Company’s stock
buyback program in line with the 46.04
EGMS resolution on 15 April 2015 and
the remaining treasury stock after the
MESOP implementation based on the
EGMS resolution on 29 June 2022 48.15 Employees
10,198
Active Contracts
475,543
AWARDS
20th Infobank Multifinance Award 2024
• “The Excellent Performance Multifinance Company (Assets > IDR 10 Trillion)”
• Titanium Trophy for “The Best Performance Multifinance Company in 15
Consecutive Years (2009–2023)”
13th Infobank Digital Brand Awards 2023
• “The 2nd Best Multifinance Company Asset Class > Rp10 Trillion”
• “The 2nd Highest Digital Index Multifinance Company”
• Golden Trophy for “The Best Multifinance Company in Digital Brand 5 Years
in a Row (2020–2024)”
Bisnis Indonesia Financial Awards (BIFA) 2024
The Best Performance Multifinance in the “Multifinance Go Public”
Subcategory for three years consecutively (2022–2024)
TEMPO–IDNFinancials 52 Index
The “Main Index–High Dividend” Category for increasing financial
performance portfolio in the last five years until the period of June 2024
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 15
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About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
KEY FINANCIAL HIGHLIGHTS
Figures in the tables and graphs below are presented in billion rupiah (unless stated otherwise).
Table 3 | Financial Performance Highlights and Ratios
Description 2022 2023 2024
Consolidated Statement of Profit or Loss and Other Comprehensive Income
Financing Income 5,117 6,042 6,030
Others 266 311 305
Total Income 5,383 6,353 6,335
Salaries and Benefits 1,325 1,457 1,517
Interest and Financing Charges 624 951 931
General and Administrative 771 871 875
Provision for Impairment Losses 367 786 850
Others 57 263 235
Total Expenses 3,144 4,328 4,408
Profit Before Tax 2,239 2,025 1,927
Income Tax Expense 432 381 362
Profit for the Year 1,807 1,644 1,565
Other Comprehensive Income for the Year - Net of Tax 14 2 (56)
Total Comprehensive Income for the Year 1,821 1,646 1,509
Consolidated Statement of Financial Position
Cash and Cash Equivalents 1,073 1,740 1,614
Net Financing Receivables 19,562 20,759 22,096
Other Receivables - Third Parties 163 251 293
Derivative Assets 103 57 28
Fixed Assets - Net 659 721 673
Intangible Assets - Net 140 255 199
Other Assets 230 209 217
Total Assets 21,930 23,992 25,120
Fund Borrowings 10,247 8,666 10,823
Securities Issued - Net 1,581 4,721 2,936
Other Payables - Third Parties 1,346 1,105 1,179
Total Liabilities 13,174 14,492 14,938
Equity 8,756 9,500 10,182
Total Liabilities and Equity 21,930 23,992 25,120
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Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
Description 2022 2023 2024
Shares Data
Share Outstanding (million) 15,967 15,967 15,967
Basic Earnings per Share (Full Amount of Rupiah) 121 109 104
Dividend per Share (Full Amount of Rupiah)1 60 55 See Note 1
Ratios
Profitability
Return on Average Assets (ROAA)2 12.2% 8.4% 8.0%
Return on Average Equity (ROAE)3 21.9% 17.7% 15.7%
Profit for the Year / Total Income 33.6% 25.9% 24.7%
Asset Quality
NPF (including Joint Financing) - Gross 1.00% 1.36% 1.25%
Allowance for Impairment Losses on Managed Receivables 4.1% 3.5% 3.4%
Coverage of NPF 4.1x 2.6x 2.7x
Liquidity
Current Ratio4 1.6x 1.4x 1.5x
Solvency
Liabilities to Assets Ratio5 0,6x 0,6x 0.6x
Liabilities to Equity Ratio6 1.5x 1.5x 1.5x
Gearing Ratio7 1.4x 1.4x 1.4x
Other Relevant Financial Ratios
Financing-to-Assets Ratio 89.2% 86.5% 88.0%
Equity-to-Paid-up-Capital Ratio 2,193.5% 2,379.8% 2,550.7%
Operational Efficiency Ratio 59.0% 69.4% 70.5%
Other Information
Number of Outlets8 282 271 267
Number of Employees9 10,111 11,207 10,198
1 Final dividend per share for 2024 is pending the 2025 GMS resolution
2 Profit Before Tax / Average Assets
3 Profit for the Year / Average Equity
4 Current Assets / Current Liabilities
5 Total Liabilities / Total Assets
6 Total Liabilities / Total Equity
7 (Fund Borrowings and Securities Issued) / Equity
8 Comprising conventional branches, kiosks, and sharia representative branches
9 For 2024, comprising 10,130 employees of BFI Finance and 68 employees of FIT
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 17
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About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
SHARE HIGHLIGHTS
Table 4 | Share Price Summary
Share Price (Rp) Transaction Market
Volume Capitalization
Period Highest Lowest Closing (million units) (Rp billion)
2023 2024 2023 2024 2023 2024 2023 2024 2023 2024
1st Quarter 1,400 1,380 1,010 1,125 1,315 1,340 782 835 20,997 21,396
2nd Quarter 1,535 1,340 1,205 800 1,430 945 820 1,162 22,833 15,089
3rd Quarter 1,455 1,040 1,085 800 1,145 1,040 1,305 757 18,123 16,606
4th Quarter 1,215 1,040 955 850 1,205 945 958 492 19,240 15,089
Graph 3 | Share Performance
2.000.000.000 2.000
2023 2024
1.800.000.000 1.800
1.600.000.000 1.600
1.400.000.000 1.400
1.200.000.000 1.200
1.000.000.000 1.000
800.000.000 800
600.000.000 600
400.000.000 400
200.000.000 200
0 0
Jan Feb Mar Apr Mei Jun Jul Aug Sep Oct Nov Des Jan Feb Mar Apr Mei Jun Jul Aug Sep Oct Nov Des
Closing Price Volume
BFI Finance’s market capitalization reached Rp15.1 trillion as at end of 2024, 21.6% below the market capitalization at the
end of 2023 of Rp19.2 trillion. The total number of BFI Finance shares traded in 2024 was 3.25 billion shares, worth Rp3.4
trillion.
By end of 2024, BFIN shares were included in the KOMPAS100, IDX80, PEFINDO25, and IDX ESG Leaders indices. Each
of these indices demonstrates the liquidity of the Company’s shares as well as the Company’s excellent performance in
environmental, social, and governance aspects among companies listed on the IDX.
Comparison between Share Price Performance of BFI Finance (BFIN) and the Composite Share Price
Index (IHSG) in 2024
Trading of BFIN shares opened on 2 January 2024 with a price of Rp1,210 and closed on 30 December 2024 with a price of
Rp945 per share, corresponding to a decline of 21.9% within the year. The IHSG retreated by 2.6% from 7,268.40 to 7,079.90
by the end of 2024. Indonesia’s stock market capitalization amounted to Rp12.3 trillion, a 5.74% increase throughout 2024.
18 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
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Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
Corporate Action
The Company distributed cash dividends amounting to a total of Rp55 (full amount) per share or equivalent to Rp827
billion from its 2023 net income. Interim cash dividends of Rp28 (full amount) per share amounting to Rp421 billion were
distributed to the shareholders of the Company on 21 December 2023. The remaining balance of Rp27 (full amount) per
share amounting to Rp406 billion was distributed on 21 June 2024.
Furthermore, the Company approved the distribution of interim cash dividends for 2024 fiscal year, amounting to Rp28
(full amount) per share, or equivalent to Rp421 billion, paid out on 19 December 2024.
Apart from the above, in 2024 the Company did not conduct any other corporate actions that affected the trading of its
shares on the stock exchange.
Suspension and/or Delisting
The trading of BFIN shares was never suspended in 2024.
BONDS HIGHLIGHTS
The Company’s securities issued during the period 2021–2024 and listed on IDX are as follows:
1 Obligasi
Berkelanjutan V
BFI Finance
Indonesia
Tahap I
Tahun 2021 Rp600 billion
2 Obligasi
Berkelanjutan V
BFI Finance
Indonesia
Tahap II
Tahun 2021 Rp1,000 billion
3 Obligasi
Berkelanjutan V
BFI Finance
Indonesia
Tahap III
Tahun 2023 Rp1,100 billion
4 Obligasi
Berkelanjutan V
BFI Finance
Indonesia
Tahap IV
Tahun 2023 Rp1,600 billion
5 Obligasi
Berkelanjutan V
BFI Finance
Indonesia
Tahap V
Tahun 2023 Rp1,100 billion
6 Obligasi
Berkelanjutan VI
BFI Finance
Indonesia
Tahap I
Tahun 2024 Rp600 billion
All of the above securities are rated ‘AA-(idn)’ by Fitch Ratings.
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 19
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About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
IMPORTANT EVENTS IN 2024
January
15
Holding of the virtual 2024 National Kick-off Meeting themed “Embracing
Progress” from BFI Tower, Tangerang Selatan, Banten
16–17
Holding of the 2024 BFI Finance National Work Meeting at Trembesi
Hotel, Tangerang Selatan
National Kick-off Meeting 2024
February
27
Fitch Ratings Indonesia (Fitch) affirmed BFI Finance’s National Long-Term
Rating at ‘AA-(idn)’ with a Stable Outlook, National Short-Term Rating at
‘F1+(idn)’, and local currency bond rating at ‘AA-(idn)’
27
Holding of Campus Hiring and Career Seminar events attended by
Campus Hiring and Career Seminar students and alumni of Kadiri University, Kediri City, East Java
at Kadiri University, Kediri
March
18–29
“Berbagi Berkah Ramadan (Share the Blessing of Ramadan)” program
distributed basic food packages and iftar meals to communities near
branch offices in various regions across Sumatra, Java, Bali, and Eastern
Indonesia
Share the Blessing of Ramadan 24–30
Holding of BFI Finance Fair (#BFINgangkatUsahaLokal) 2024 to enhance
MSMEs’ capacity, featuring a bazaar with various products and Islamic-
themed competitions in celebration of the Islamic holy month of
Ramadan, at WTC Surabaya, East Java
BFI Finance Fair at WTC Surabaya
April
8
Celebration of the 42nd Anniversary of BFI Finance, held both offline and
online from BFI Tower (Tangerang Selatan), joined by employees from the
head office and branches across various regions. The event, coinciding
with Ramadan, concluded with a religious lecture and iftar gathering
Celebration of the 42nd Anniversary of BFI
Finance
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Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
April
20
Holding of “Jajan-Jajan Silaturahmi” (JJS/”Snacking for Social Gathering”)
event, featuring free health check-ups and distribution of MSME-
produced snacks for customers and the public around the Tangerang 2
Branch Office in Balaraja, Tangerang Regency, Banten
Snacking for Social Gathering
May
15
Holding of Financial Literacy session for elementary school students at
SDN Inpres Doyo Lama Jayapura, Papua
16
“Gerakan 1000 Sepatu Sekolah untuk Anak Bangsa (1000 School Shoes
1000 School Shoes Movement for
Indonesian Children
Movement for Indonesian Children)” CSR program in education sector
that distributed 1,000 pairs of shoes, socks, and donated books from
employees to elementary students in various regions of Papua Province
22
Holding of the 2024 AGMS and EGMS of BFI Finance in hybrid format at
BFI Tower, Tangerang Selatan
AGMS and EGMS 2024 27
Holding of the 2024 National Agent Gathering at Trembesi Hotel,
Tangerang Selatan
National Agent Gathering 2024
June
5
Press Conference for BFI RUN 2024 at Lavva Plaza Senayan, Jakarta
Selatan
8
Holding of “Road to BFI RUN 2024” event at RANS Nusantara Hebat, BSD
Press Conference for BFI RUN 2024 City, Tangerang Selatan
19–20
Holding of virtual inspirational workshop to support MSMEs, themed
“Pengembangan UMKM Era Revolusi Industri 4.0” (“Development of
MSMEs in the Era of Industrial Revolution 4.0”), attended by business
owners from various regions, including Greater Tangerang (Banten),
Majalengka (West Java), Blora, Semarang, and Kudus (Central Java), as
well as Medan (North Sumatra)
Virtual inspirational workshop to support
MSMEs
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 21
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About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
June
21
Final dividend payment for 2023 at Rp27 per share, bringing the total
dividend from 2023 net profit to Rp55 per share, equivalent to Rp827
billion
23
BFI RUN 2024 BFI RUN 2024, themed “Embracing Progress”, held for the first time with
the Marathon (42.195K) category as part of the Company’s 42nd anniversary
celebration, garnering participation from 6,500 runners, with the start and
finish line at ICE BSD City, Tangerang Regency
July
3
Signing of agreement with Rumah123 to facilitate home mortgage
(KPR) financing for second-hand homes in the Greater Jakarta area
(Jabodetabek), at BFI Tower, Tangerang Selatan
11–14
Signing of agreement with Rumah123
Participation in the 2024 Surabaya Printing Expo at Grand City Convention
& Exhibition, Surabaya, East Java
Surabaya Printing Expo 2024
August
2
Launch and expansion of Property-Backed Financing (PBF) product in
Balikpapan, East Kalimantan
3–24
Launching of PBF product in Balikpapan “Sehat untuk Merdeka” CSR program, featuring blood donation and
free health check-ups in celebration of Indonesia’s Independence Day.
The event took place in Tangerang Selatan (Banten), Kediri (East Java),
Palangkaraya (Central Kalimantan), Tarakan (North Kalimantan), and
Makassar (South Sulawesi)
“Healthy for Freedom” Program
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Good Corporate Sustainability Corporate Data Annual Financial Appendices
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September
7
Holding of Financial Literacy session in celebration of National Customer
Day 2024, themed “Mengembangkan Bisnis & Memanfaatkan Pinjaman
Produktif” (“Developing Business & Utilizing Productive Loans”), for
customers looking to start or grow their businesses, at ibis Styles Serpong
BSD City, Tangerang Selatan
Financial Literacy in BSD City, Tangerang
Selatan 9
Launch of second-hand home mortgage (KPR) financing with a fixed rate
for a ten-year term in Jakarta Selatan
11–14
Participation in the 2024 Mining Indonesia exhibition at Jakarta
International Expo (JIExpo) Kemayoran, Jakarta Utara
Launch of KPR Financing
26
Issuance of Obligasi Berkelanjutan VI BFI Finance Indonesia Tahap I
Tahun 2024 Serial A, B, and C with total amount of Rp600 billion
Participation in Mining Indonesia 2024
exhibition
October
2
Launch and expansion of PBF product in Medan, North Sumatra
3–6
Participation in the 2024 FinExpo, organised by OJK for Financial Inclusion
Month (Bulan Inklusi Keuangan/BIK), at e-Walk BSB Mall, Balikpapan,
Launching of PBF product in Medan East Kalimantan
9–12
Participation in the international ALLPacK Indonesia and ALLPRINT
Indonesia 2024 exhibitions at JIExpo Kemayoran, Jakarta Utara
10
Holding of the 2024 “SENSASI (Senang-Senang bersama BFI Finance)”
customer loyalty program, offering appreciation rewards to customers in
Participation in ALLPacK Indonesia and Bukittinggi, West Sumatra
ALLPRINT Indonesia 2024 exhibitions
10–13
BFI Finance Fair (#BFINgangkatUsahaLokal) 2024 held to support
MSMEs, featuring creative training sessions, product bazaars, various
competitions, mini creative workshops, a used clothing donation drive,
and entertainment at TangCity Mall, Tangerang City, Banten
11–13
Participation in the 2024 Multifinance Day APPI at Gaia Bumi Raya City,
BFI Finance Fair at Tangcity Mall, Tangerang
Pontianak, West Kalimantan
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 23
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About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
October
17
Launch and expansion of PBF product in Denpasar, Bali
26
Closing ceremony of the BFI 4U program with the “Panggung Rakyat”
(“People’s Stage”) cultural event, featuring local arts performances and
Participation in Multifinance Day APPI a community bazaar at Kampung Palalangon, Pasir Jaya Village, Bogor
2024 in Pontianak Regency, West Java
November
8-10
BFI Finance Fair (#BFINgangkatUsahaLokal) 2024 held to support MSMEs,
featuring creative training sessions, product bazaars, mini creative
workshops, sports activities, and free health check-ups at MTC Mall
Panam, Pekanbaru, Riau
BFI Finance Fair at MTC Mall Panan,
21
Pekanbaru Holding of Annual Public Expose of BFI Finance, virtually from BFI Tower,
Tangerang Selatan
23
Holding of Financial Literacy session themed “Langkah Cerdas
Memanfaatkan Pinjaman Produktif” (“Smart Steps in Using Productive
Loans”) in collaboration with the MSME Produktif” (“Smart Steps in Using
Productive Loans”) in collaboration with the MSME Department of Bandar
Lampung City, Lampung
Financial Literacy in Bandar Lampung
30
Mangrove seedling planting by employee volunteers from the head office,
taking place at Pari Island, Kepulauan Seribu (Jakarta), in celebration of
Indonesia’s Tree Planting Day
Mangrove seedling planting in Pari Island,
Kepulauan Seribu
December
4
Official launch of “Bursa Mobil Sobat BFI”, the first used car trading center
directly managed by BFI Finance, at BG Junction Mall, Surabaya, East Java
7 & 14
Mangrove tree planting by employee volunteers from various branch
offices in Denpasar (Bali), Bekasi and Indramayu (West Java), Brebes
Mangrove seedling planting in Dumai, Riau (Central Java), and Dumai (Riau)
19
Interim cash dividend payment for 2024 of Rp28 per share, equivalent to
Rp421 billion
24 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
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Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
AWARDS AND RECOGNITION
13th Infobank Digital Brand Awards 2024 20th Infobank Multifinance Award 2024
Infobank magazine and Isentia, 1 April 2024, in Jakarta Infobank magazine, 26 July 2024, in Jakarta
• “The 2nd Best Multifinance Company Asset Class • “The Excellent Performance Multifinance Company
> Rp10 Trillion” (Assets > IDR 10 Trillion)”
• “The 2nd Highest Digital Index Multifinance • Titanium Trophy for “The Best Performance
Company” Multifinance Company in 15 Consecutive Years
• Golden Trophy for “The Best Multifinance Company (2009–2023)”
in Digital Brand 5 Years in a Row (2020–2024)”
Malam Apresiasi Emiten (Issuers’ Appreciation Night)
2024: TEMPO–IDNFinancials 52 Paritrana Award 2024
Tempo.co and IDNFinancials.com, 26 July 2024, in Balikpapan BPJS Ketenagakerjaan, 12 September 2024, in Jakarta
Main Index–High Dividend” category for improving
Best Business Entity in Non-Banking Financial Sector
financial portfolio performance within the last five
years up to June 2024
Bisnis Indonesia Financial Awards (BIFA) 2024 Indonesia Best Multifinance Awards 2024
Bisnis Indonesia, 18 September 2024, in Jakarta Warta Ekonomi, 26 September 2024, in Jakarta
The Best Performance Multifinance in the sub- Indonesia Best Multifinance 2024 for Implementing
category of “Multifinance Go Public” for three years the Management of Effective and Selective Finance
in a row (2022–2024) Portfolio, in the category of Total Assets 10–30 Billion
Top 20 Financial Institutions 2024 Indonesia’s Best Wealth Creators 2024
The Finance online magazine, 22 October 2024, in Jakarta SWA Media Group and Stern Value Management, 28
October 2024, in Jakarta
The Best Performing Multifinance 2023 in the Indonesia The Best Public Companies Based on
category of Assets of Rp10 Trillion and Above, based WAITM (Overall) 2024
on the financial performance of 2021–2023 period
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 25
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02 REPORT TO
STAKEHOLDERS
26 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 27
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 27
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About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
REPORT OF THE BOARD OF COMMISSIONERS
Kusmayanto Kadiman
President Commissioner
Esteemed stakeholders, continuous transformation. With an approach centered on
efficiency, innovation, and sound governance, the Company
The BOC presents this report on its supervisory duties
not only overcame challenges but also continued to lay a
over BFI Finance’s performance and business journey
strong foundation for sustainable growth. BFI Finance’s
throughout 2024 along with our appreciation to all
commitment to keeping its edge as a trusted partner for
stakeholders. Their support, trust, and collaboration have
financing is reflected in this year’s theme, “Embracing
enabled BFI Finance to exhibit resilience in the face of
Progress”.
challenges and deliver a consistent, solid performance.
Despite its moderate growth, BFI Finance demonstrated
The year 2024 featured many bold measures taken
improving asset quality in 2024. Non-Performing Financing
by policymakers. The US Federal Reserve lowered its
(NPF), below the industry average throughout the year,
benchmark rate to 4.25% nearing the year-end, following
signified a rigorous risk management approach and strict
the country’s economic recovery from stubbornly high
implementation thereof. This culture and discipline, from
inflation. In contrast, geopolitical tensions and armed
the perspective of shareholders, has always been one of BFI
conflicts escalated in several regions, and economic growth
Finance’s largest competitive advantages and has helped
in some advanced economies slowed. The USD dominance
the Company maintain business stability amid intense and
throughout this period was reflected in the weakening of
dynamic market competition during challenging times.
the rupiah exchange rate, compared to 2023.
The BOC acknowledges the management’s resilience
Domestic economic growth in 2024 hovered around
in overcoming significant challenges from the previous
5%, a steady pace amidst global volatility. However,
year’s malware attack as well as market softness by
certain economic indicators in the country pointed to
continuously reinforcing robust business processes and
weakening consumer purchasing power, owing to the
strict checks and balances. It is because of this resilience
high prices of basic goods and persistently low financial
that the management successfully restored growth in
literacy, particularly among the lower-middle class. The
the second half while improving portfolio quality, despite
multifinance industry grew by 6.92% overall in 2024.
ongoing sectoral delinquencies as loans from previous year
continued to season. These efforts enabled the Company
to have more control over origination and keep credit costs
Oversight and Evaluation of the BOD below the industry average. These achievements stem from
Performance strong governance, stable operations, and well-executed
The BOC commends the performance of the BOD transformation, and led to the establishment of the
throughout 2024, particularly their success in driving Transformation Directorate in mid-2024.
28 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
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Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
The BOC commends management’s
resilience in overcoming market challenges
and internal hurdles, restoring growth in the
second half while improving portfolio quality.
The Company’s digital transformation has enhanced Company (Asset > Rp10 Trillion)” from Infobank. BFI Finance
its capabilities and flexibility, optimizing operations. also received the Indonesia Best Multifinance Awards
We observed efficiency improvements in several areas, 2024 in the “Implementing the Management of Effective
including time and cost savings, without compromising and Selective Financing Portfolio” category from Warta
service quality. Financing disbursement, administration, Ekonomi, and the Bisnis Indonesia Financial Awards 2024
portfolio monitoring, and collection have become more trophy as “The Best Performance Multifinance” in the Go
expedited and accurate, due to the integration of skilled Public category.
personnel and advanced technology as the Company’s
twin operational backbones. Digital transformation has also
positioned the Company to better meet customer needs for View on Business Plans and Prospects
more complex financing schemes.
The BOC has welcomed 2025 with enthusiasm even as
We have always been committed to shareholder value. global and national dynamics remain uncertain and
Dividends distributed twice in 2024 highlight BFI Finance’s challenging. The strategic plans laid down by the BOD
consistency and superior ability to maintain healthy cash take into account risk and opportunities from global policy,
flows. With its solid balance sheet, we are confident the and nationally, the new administration’s vision to boost
Company can steer clear of the headwinds of the current economic growth to 8% through downstreaming and fiscal
multifinance industry and sustain its momentum for incentives offers substantial momentum.
improved performance in the future.
We continue to aspire to become a strong technology-
enabled business supported by an ecosystem of
Good Corporate Governance Performance partnerships, with technology-driven risk management that
is both robust and comprehensive. The BOC fully supports
BFI Finance’s diligence in good corporate governance the BOD’s strategy to remain an important and relevant
is reflected in its business stability and excellent player through continued innovation.
performance. This achievement has truly stemmed from
the Company’s adaptability to change. The restructuring
of several functions, including the establishment of the Closing
Transformation Directorate led by Goklas as Transformation
Director, as determined at the 2024 EGMS, will further The BOC concludes this report with confidence that the
inspire innovation and adaptability in the Company. Company will continue to raise its standards in 2025, in
The BOC hopes this initiative will create a more resilient order to achieve its targets. We wholeheartedly appreciate
business structure in the future. the firm commitment of the BOD and all employees, and
the support of shareholders, business partners, as well
The committees under the BOC’s supervision play a crucial as customers and stakeholders for BFI Finance thus far.
role in maintaining governance performance. The Audit Keeping a spirit of collaboration for a shared future, we are
Committee and the Risk Oversight Committee, both led by upbeat that BFI Finance will continue to move forward and
Johanes Sutrisno, have ensured the Company’s regulatory upwards.
compliance and risk management application. Meanwhile,
the Nomination and Remuneration Committee, chaired by
Alfonso Napitupulu, always ensures that nomination and On behalf of the Board of Commissioners of PT BFI Finance
remuneration policies are aligned with industry standards Indonesia Tbk,
and internal needs. Inputs from these committees are
discussed in BOC meetings to provide strategic direction to
management.
The robust implementation of strategies including
governance by the management, once again garnered Kusmayanto Kadiman
accolades for BFI Finance. These include the awards as “The President Commissioner
Best Performance Multifinance Company in 15 Consecutive
Years” and “The Excellent Performance Multifinance
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 29
Page 30
BOARD OF COMMISSIONERS
Johanes Sutrisno Kusmayanto Kadiman
Independent Commissioner President Commissioner
Alfonso Napitupulu
Independent Commissioner
30 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 31
Saurabh Narayan Agarwal
Commissioner
Sunata Tjiterosampurno
Commissioner
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 31
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About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
REPORT OF THE BOARD OF DIRECTORS
Francis Lay Sioe Ho
President Director
Dear Shareholders and Stakeholders, double-digit decline in 2024. This contributed to muted
industry’s total financing receivables rise by merely 6.92%,
2024 was a year of muted growth and heightened market
falling short of OJK’s target. Receivables quality, with Non-
uncertainties and instability. In response to this, we were
Performing Financing (NPF) of 2.70% at the close of 2024,
prompted to consolidate operations, as well as tighten
deteriorated from 2.44% in 2023.
underwriting to maintain asset quality. We also took the
opportunity to expedite transformation plans to improve
systems and processes to ensure sufficient capacity for
Strategy Formulation and Execution
future growth.
Having seen some success in taming inflation, central For BFI Finance, 2024 was a year of two halves. The
banks globally have taken a more dovish monetary stance. reconfiguration and strengthening of systems and
The US Federal Reserve, propped by a resilient domestic protocols following the operational disruption we
economy, cut its Fed Funds Rate three times in 2024. Bank experienced in mid-2023 had tempered our pace entering
Indonesia, on a balancing act between shoring up demand into 2024. Coupled with the wait-and-see attitude prevalent
and relieving pressures on the rupiah, hiked its rate for six during the general elections, we proceeded with caution
months in the mid-year. But with inflation touching its to regain foothold and regenerate growth across the
lowest point in history, the rate was brought back down to segments we serve.
6.0% by year-end. Our priority in 2024 was to intensify engagement but with
Since emerging from the Covid-19 pandemic, Indonesia’s greater prudence. We also amplified our efforts to address
economy has shown growth of above 5% annually. weak market dynamics driven by the car market slump and
Nevertheless, spending power weakened, especially in the the overall increase in sectoral delinquencies. Additionally,
mass market segment where wages had stagnated. Car we continued to face intense competition from both new
sales, a bellwether of the multifinance industry, booked a and existing players lured by the segment’s high-yield.
Such challenges have, over the years, driven us to come
32 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
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Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
Shaping a well-rounded acquisition model
with digital partnerships plays a key role in
augmenting our entire business cycle, and this
was at the heart of BFI Finance’s transformation
throughout 2024.
up with better origination strategies whilst upgrading directorate has begun work on aligning core business
our frontliners’ skills to serve all types of customers more functions with digital transformation guided by a
effectively at every point of contact. comprehensive risk management strategy, providing BFI
Finance with a clearer roadmap for the future.
As we shifted gears in the second half of 2024 when asset
quality stabilized, new bookings accelerated. We also
gained traction in other segments such as Property-Backed
Financial Performance
Financing (PBF) and Sharia Financing. Meanwhile, we
continued to diversify acquisition channels by cementing With monthly performance picking up speed only in the
new avenues for collaboration. We leveraged our group final quarter of 2024, we managed to record Total New
ecosystem and teamed up with several established players Financing of Rp20.1 trillion for the year. This was 5.1% above
in the digital arena. These digital partnerships allowed us to 2023 achievement, but 10.5% below 2024 budget. Total Net
offer financing products tailored to the partners’ respective Receivables at year-end amounted to Rp22.1 trillion, 6.4%
target markets. higher than the previous year and 93.1% of our target.
Shaping a well-rounded acquisition model with digital Despite mounting challenges, we safeguarded our
partnerships plays a key role in augmenting our entire preeminence in the NDF segment, which in 2024
business cycle, from underwriting to collection. This was the comprised more than 66.2% of our Total New Financing.
main feature of BFI Finance’s transformation throughout Furthermore, we saw promising growth in our PBF
2024. We fitted digital tools for automation to enhance segment, which contributed a decent growth in 2024.
results and refine decision-making capabilities across all
levels. We persisted in transforming our ways of working, While BFI Finance’s 2024 performance was on par with
often using “live lab” and “test-and-learn” setups to drive the industry’s, the Company was able to demonstrate its
swift, incremental change. Simultaneously, we invested edge in two dimensions. First, its standing as the largest
considerably in recruiting the right talent and training our independent multifinance company in Indonesia, with a
people to adopt a new corporate mindset. National Long-Term Rating of ‘AA-(idn)’ from Fitch Ratings,
enabled the Company to access strategic funding sources
BFI Finance’s new mindset, crafted over the years by the at competitive rates. Our cost of fund in 2024, at 7.2%, was
management in consultation with stakeholders, involves very competitive compared with the industry’s. Second,
a firmer integration of our risk culture into the business. pursuing growth balanced with stringent risk controls
With this awareness, in mid-2024 the BOD restructured allowed us to protect asset quality, reflected by NPF of 1.25%,
several directorial functions and remit, and formed the less than half that of the industry’s.
Transformation Directorate to lead this undertaking. This
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 33
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About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
BFI Finance booked Total Income of Rp6.3 trillion and Profit Charting the Way Forward
for the Year of Rp1.6 trillion, 4.8% less than in 2023. Cash
flows remained strong, as we distributed interim dividends Customers today face an overwhelming array of financing
of Rp28 per share in December 2024, made full repayments options. Helping them navigate this landscape by delivering
of maturing bonds during the year, and maintained debt- what they need responsibly and ethically will be crucial to
success. We anticipate escalating competition in lucrative
to-equity ratio to 1.4x, raising Total Assets by 4.7% to Rp25.1
segments so it is imperative for BFI Finance to hone its
trillion at the close of 2024.
competitive edge to stay ahead of the curve.
We aim to boost origination by innovating across our
Corporate Governance acquisition channels. We are expanding the digital
partnership scheme by tapping into reputable entities
As digitalization enhanced our operational agility and linked to our ecosystem, and developing a versatile direct-
flexibility, we reinforced risk management and upheld to-customer channel to be piloted at some branches in
compliance standards. We evaluated issues of concern 2025. To connect with a broader customer base, the BFI
from multiple fronts, and collectively took action to address Mobile application, which we launched in December 2024,
will get a major features upgrade. Finally, we will ensure
them. Supported by the Sharia Product and Business
that our people have what it takes to champion strategic
Activity Development Committee, the Risk Management
initiatives, apply proper risk management measures, and
Committee, and the Information Technology Steering stay abreast of regulatory developments.
Committee, each member of the BOD was empowered to
formulate strategies in line with their scope of responsibility. We expect our drive for enhancement and innovation to
The BOD’s joint meetings with the BOC kept shareholders raise the bar, both operationally and financially. For 2025,
on track of our business direction. Throughout the year, we we are eyeing 10.7% rise in New Booking to reach Rp22.2
trillion, which will translate to a 3.9% increase in Total Net
informed regulatory authorities of our progress and plans
Receivables and 12.8% in Profit for the Year.
via reports and disclosures.
Acknowledgements
Changes to the BOD Composition
The BOD is grateful for the contributions from employees
As per the resolution of 22 May 2024 EGMS, the BOD
and business partners to the Company’s ongoing
welcomed the appointment of Goklas as Transformation
transformation. We also thank the shareholders, the BOC
Director. He has been with BFI Finance for 23 years, starting
and its committees, and the regulators, for their trust in
his career as a Management Trainee in 2001. The BOD looks
our leadership. With all stakeholders, we are committed to
forward to working with him, defining how the Company
meeting customer needs and building a bright financial
should reinvent itself in the digital age.
future for Indonesia.
Also, at the EGMS on 30 January 2025, I have resigned
as President Director and, in turn, the shareholders have
agreed to appoint my longtime colleague, Sutadi, as the On behalf of the Board of Directors of PT BFI Finance
new President Director. Having navigated the Company Indonesia Tbk,
through many milestones and economic cycles, it is with
much pride and honor that I am able to hand him the
baton of leadership, fully confident in his capacity to steer
the Company to greater heights.
I want to take this opportunity to thank you for the trust,
confidence, and support you have shown BFI Finance and
me over the years. I assure you that this transition will only Francis Lay Sioe Ho
strengthen the Company’s ability to deliver excellence and
Outgoing President Director
value. In the same meeting, I have accepted the position of
President Commissioner of the Company.
34 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
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Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 35
Page 36
BOARD OF DIRECTORS
Sutadi
Andrew Adiwijanto
Business & Asset
Operation Director
Management Director
Francis Lay Sioe Ho
President Director
36 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 37
Goklas
Transformation Director
Sudjono
Finance Director
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 37
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About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
STATEMENT OF THE BOARD OF COMMISSIONERS
ON THE RESPONSIBILITY FOR THE 2024
INTEGRATED ANNUAL REPORT OF
PT BFI FINANCE INDONESIA Tbk
We, the undersigned, testify that all information contained in the 2024 Integrated Annual Report of PT BFI Finance
Indonesia Tbk has been presented completely and we are fully responsible for the accuracy of the contents of the
Company’s Integrated Annual Report.
This statement is hereby made in all truthfulness.
Tangerang Selatan, 25 March 2025
BOARD OF COMMISSIONERS
Kusmayanto Kadiman
President Commissioner
Johanes Sutrisno Alfonso Napitupulu
Independent Commissioner Independent Commissioner
Sunata Tjiterosampurno Saurabh Narayan Agarwal
Commissioner Commissioner
38 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
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STATEMENT OF THE BOARD OF DIRECTORS
ON THE RESPONSIBILITY FOR THE 2024
INTEGRATED ANNUAL REPORT OF
PT BFI FINANCE INDONESIA Tbk
We, the undersigned, testify that all information contained in the 2024 Integrated Annual Report of PT BFI Finance
Indonesia Tbk has been presented completely and we are fully responsible for the accuracy of the contents of the
Company’s Integrated Annual Report.
This statement is hereby made in all truthfulness.
Tangerang Selatan, 25 March 2025
BOARD OF DIRECTORS
Sutadi
Interim President Director and
Business & Asset Management Director
Sudjono Goklas
Finance Director Transformation Director
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CEO FAREWELL NOTE
Over the last four decades, I have encountered many cycles, seen how business trends have changed,
and experienced the evolution of customer preferences and experience. In 1982, we started a simple
business, a joint venture with a US based company, focused on heavy equipment leasing. Our partner
exited in 1986, and we continued to build the leasing business. Over the years, we evolved to become a
retail, consumer focused lender with an asset size of over Rp25 trillion.
Building a business is tough, and sustaining it is even tougher. We have garnered numerous
recognitions over the years, and these achievements are not mine alone. They also belong to my diligent
and loyal team who have been with me through many ups and downs, peaks and troughs. BFI Finance
will not be where it is today without all of you.
As I prepare to step down as President Director, I reflect on the lessons learnt during this tenure, and the
challenges faced in building this business and brand that is trusted by so many of you today. We have
weathered crises—a pandemic, global financial meltdowns, attacks against the Company—and come
out strong and unscathed. There is no secret to this, and it is not rocket science. If there is one thing I can
be most proud to leave behind is the strong culture that we have built over these forty years in business.
At the end of the day, everything boils down to our values—the standards we set for ourselves. Without
this, we are nothing. These values have been the building blocks for an ethical and responsible business.
They have helped us steer through not only difficult times, but also in times of big change. The change
in shareholders in 2011 was a significant turning point for our company, elevating our profile with the
international community of lenders and investors. They have brought with them significant knowledge
and expertise from other markets, complementing that with our strong culture of professionalism
and governance. I thank them for their support of the last decade—together we have grown, bringing
together our unique capabilities and value drivers to build a bigger and stronger BFI Finance.
As a business leader, you are as good as the people who make up your team. BFI Finance is fortunate
to have very good leadership across all functions. Our risk management, finance and control, human
capital development and transformation directorates are exemplary, and our strict control has been
tested again and again over time. They have proven to be agile and resilient, with a strong mindset to
stay ahead of the curve. As I pass the baton to Sutadi and the team, I am most confident that not only
will he continue to lead BFI Finance to greater heights, but also preserve what we have built—the DNA
of BFI Finance truly lies in our professionalism, our ethics and merit based culture. My parting words to
everyone is this. Always have the hunger to learn. Continuous improvement of oneself is the only way to
thrive in this challenging world—whether it is in business or outside.
I am truly honored to have spent a large part of my life building BFI Finance—it has been an amazing
journey of 42 years. Serving this Company together with a most fantastic team of lieutenants all these
decades shall remain the most enriching experience of my lifetime. I thank you all for your support and
friendship throughout this journey.
With deepest respect,
Francis
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41 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
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42 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
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03
COMPANY
PROFILE
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GENERAL COMPANY INFORMATION
Company Name Legal Basis of Establishment Date of Share Registration
PT BFI Finance Indonesia Tbk The Company was established 16 May 1990
(abbreviated as BFI Finance) based on Deed No. 57 made
before Kartini Muljadi, S.H.,
Notary in Jakarta. The deed of
Domicile establishment was approved Ticker Symbol
Tangerang Selatan, by the Minister of Justice (now BFIN
Banten Province, Indonesia the Ministry of Justice and
Human Rights) of the Republic
of Indonesia through Decree
Established No. C2-2091-HT.01.01.TH.82 dated Authorized Capital
28 October 1982 and published
7 April 1982 on the RI State Gazette No. Rp500 billion
102 dated 21 December 1982,
Supplement No. 1390.
Stock Market
BFI Finance shares are listed Issued and
and traded on the IDX. Fully Paid-up Capital
Rp399.2 billion
Share Ownership Memberships in Associations
PT BFI Finance Indonesia Tbk*
* Result of the Company’s
share buyback program
Indonesian Financial Services
5.81%
Association (APPI)
in line with the EGMS
Financial Services Sector
resolution on 15 April
Alternative Dispute
2015 and the remaining
Resolution Institution
46.04% treasury stock after the
%
(LAPS SJK)
MESOP implementation
based on the EGMS
resolution on 29 June 2022 Indonesian Public Listed
48.15% Companies Association (AEI)
Trinugraha Capital & Co SCA PT Rapi Utama
Indonesia (RAPINDO)
Public/Others (each below 5%) Indonesian Employers’
Association (APINDO)
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Head Office Total Employees Social Media
BFI Tower, Sunburst CBD Lot 1.2 10,198
Jl. Kapt. Soebijanto Djojohadikusumo
BSD City – Tangerang Selatan 15322 of whom 10,130 worked at BFI
Indonesia Finance and 68 worked at FIT BFI Finance
Telepon: (62-21) 2965 0300, 2965 0500 (a subsidiary)
@BFIFinance
Website Total Outlets
@bfifinance
www.bfi.co.id 267
comprising 191 conventional PT BFI Finance
Call Center branches, 45 sharia Indonesia Tbk
representative branches sharing
1500018 premises with the conventional
branches, and 31 kiosks BFI Finance Official
Corporate Secretary
@BFIFinanceOfficial
corsec@bfi.co.id Main Business Activities
Investment Financing
Investor Relations Working Capital Financing
Multipurpose Financing
investor@bfi.co.id
Sharia Financing
Business Scale
As at 31 December 2024, indicators of the Company’s
business scale are as follows:
Total Total Total Net Financing Market Share in the Indonesian
Assets Liabilities Receivables Multifinance Industry
Rp25 trillion Rp15 trillion Rp22 trillion 4.4%
Significant Changes in 2024
No significant changes to the Company’s line of business, scope
of operations, or its supply chains, took place in 2024.
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 45
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COMPANY VISION AND MISSION
VISION
To become a trusted partner in financial solutions
that contributes to the enhancement of
people’s standard of living
MISSION
• To provide reliable and effective financial
solutions to our customers
• To deliver superior return-on-investment and
sustain our reputation as a trusted public
company
• To provide an ecosystem that nurtures future
leaders of the organization
• To build long-term collaboration with
business partners, based on mutual trust and
benefit
• To contribute positively to the society
The Company’s Vision and Mission have been reviewed comprehensively
to keep them up to date with the Company’s dynamic business
development. The Company’s BOC and BOD have approved this Vision
and Mission to be the Company’s objective of its business activities.
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SUSTAINABILITY VISION AND MISSION
SUSTAINABLE FINANCE VISION
To become a multifinance company that is always at the forefront
of the non-bank financial industry by upholding its commitment
to becoming a trusted partner in the public’s financial solutions,
paying attention to the balance of achieving economic, social, and
environmental sustainability, to support sustainable development
of the nation and improve the living standards of the community
wherever the Company operates
SUSTAINABLE FINANCE MISSION
Capable of carrying out business activities in a
sustainable manner, supporting the development of
entrepreneurs in the low- to middle-income groups to
boost the local economy and social welfare by always
paying attention to environmental impacts
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BRIEF COMPANY HISTORY
ESTABLISHMENT
BFI Finance is one of the pioneers in the financing sector in Indonesia.
Initially established as PT Manufacturers Hanover Leasing Indonesia,
a joint venture with Manufacturers Hanover Leasing Corporation
from the United States, the Company was established on 7 April 1982
under the Notarial Deed No. 57 made before Kartini Muljadi, S.H., a
Notary in Jakarta, and approved by the RI Minister of Justice by virtue
of its Decree No. C2-2091-HT.01.01.TH.82 dated 28 October 1982, and
published on the RI State Gazette No. 102 dated 21 December 1982,
Supplement No. 1390. MHLC’s shareholding in the Company was 70%,
with the rest owned by Indonesian nationals.
The Company was granted the finance institution business license as a
leasing company from the RI Minister of Finance under the Decree No.
KEP-038/KM.11/1982 dated 12 August 1982.
In 1986, PT Bank Umum Nasional and Essompark Ltd., Hong Kong,
took over Manufacturers Hanover Leasing Corporation’s ownership
of the Company, and later changed the Company name to PT Bunas
Intitama Leasing Indonesia, under the deed made before Inge
Hendarmin, S.H., a Notary in Jakarta, dated 17 September 1986, and
approved by the RI Minister of Justice by virtue of its Decree No. C2-
6977.HT.01.04.TH.86 dated 7 October 1986, and published on the RI
State Gazette No. 94 dated 25 November 1986, Supplement No. 1451.
DEVELOPMENT
In 1990, the Company became one of the first multifinance companies
to list its shares at the Jakarta Stock Exchange and Surabaya Stock
Exchange (both now known as IDX), with the ticker symbol of BFIN.
The name and status of the Company were adjusted to PT Bunas
Finance Indonesia Tbk. The Company also altered its operating license
to a multifinance company, pursuant to the Decree of the RI Minister
of Finance No. 493/KMK.013/1990 dated 23 April 1990.
After overcoming the 1997 Asian financial crisis, the Company
successfully restructured its debts in 2001 and changed its name to
PT BFI Finance Indonesia Tbk, under the Notarial Deed No. 116 made
before Aulia Taufani, S.H., previously Sutjipto, S.H., a Notary in Jakarta,
dated 27 June 2001, that was approved by the RI Minister of Law and
Human Rights by virtue of its Decree No. C-03668.HT.01.04.TH.2001
dated 24 July 2001 and published on the RI State Gazette No. 35 dated
30 April 2002, Supplement No. 4195.
On 20 February 2006, the RI Minister of Finance amended the
Company’s business license through the Decree No. KEP-038/
KM.5/2006 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 under
the Decree of the RI Minister of Law and Human Rights No. C-03668.
HT.01.04. TH.2001 dated 24 July 2001.
The Company’s articles of association have been amended several
KANTOR CABANG [NAMA CABANG]
MATARAM
times. The latest amendment was made under the Deed of
Statement of Meeting Resolution on the Amendment to the Articles
of Association No. 19 dated 29 June 2022, made before Shanti Indah
Lestari, S.H., M.Kn., Notary in Tangerang Regency, on the approval
of the amendments to Articles 3 and 15 of the Company’s Articles of
Association, which have been received and registered in the database
of the Legal Entities Administration System of the RI Ministry of Law
and Human Rights by virtue of its Letter No. AHU-0052483.AH.01.02.
Tahun 2022 dated 27 July 2022. The amendment was announced on
the RI State Gazette No. 74 dated 16 September 2022, Supplement No.
31534.
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BFI FINANCE TODAY
BFI is now among the top multifinance companies in Indonesia,
known for its widest coverage and product range, employing 10,198
personnel in 267 outlets across 35 provinces.
BFI Finance has demonstrated continuous growth, as made evident
by the numerous awards it has won for its business performance,
among others, retaining the title of “Multifinance Company with
Excellent Financial Performance” from InfoBank magazine for
fifteen consecutive financial years (2009–2023), an achievement
for which it received the Infobank Titanium Trophy 2024. This high-
profile trophy is testament to the Company’s sterling performance
for the fifth consecutive year. The Company again garnered the
Infobank Multifinance Awards 2024 in the category of “Multifinance
Companies with Assets of Rp10 Trillion and Above” with “Excellent”
financial performance throughout 2023 and occupied the Top Three
Rank in the rating of 140 multifinance companies in Indonesia, based
on the survey results from Infobank Research Bureau in 2024.
Details of the Company’s awards and accolades in 2024 are presented
in the Awards and Recognition section in the 2024 Performance
Highlights chapter pages 25.
As at 31 December 2024, Trinugraha Capital & Co SCA was the
controlling shareholder of BFI Finance, with a 48.15% stake.
Since 2013, the Company’s Head Office has been located in BFI Tower,
Sunburst CBD Lot 1.2, Jl. Kapt. Soebijanto Djojohadikusomo, BSD City,
Tangerang Selatan 15322, Banten Province.
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MILESTONES
• The Company was founded under the
name of PT Manufacturers Hanover
1982 Leasing Indonesia
• Obtained a finance institution
business license (leasing)
1990
KANTOR CABANG [NAMA CABANG]
MATARAM
• Obtained a multifinance business license, which was
renewed in 1990
• Conducted an Initial Public Offering on the Jakarta
Stock Exchange and the Surabaya Stock Exchange (now
Indonesia Stock Exchange/IDX) with ticker symbol of BFIN
by issuing 25% of new shares (2,125,000 shares) offered
to the public at Rp5,750 per share with nominal price of
Rp1,000 per share
• The Company’s status and name was changed to PT Bunas
Finance Indonesia Tbk
2001 1994
• Completed financial restructuring, • Conducted Limited Public Offering I
resulting in a change of majority (Rights Issue I) for 28,829,558 shares
shareholder
• The Company changed its name to
PT BFI Finance Indonesia Tbk
2007
2011
• Conducted an initial bond offering for BFI
• Trinugraha Capital & Co SCA
Finance Indonesia Bonds Year 2007 With
became a controlling shareholder
Fixed Interest Rate
with a 44.95% stake
• Obtained a rating of ‘Baa1(id)’ from Moody’s
• Obtained a rating of ‘A(idn)’ from
Investors Service
Fitch Ratings
Conducted stock buyback program
2015 to improve the Company’s capital
management
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• Acceleration of business process and
services encompassing partnerships and
collaborations with various entities as part of
a digital ecosystem
2024
• A richer range of financing products offered
to the market, including pre-owned home
ownership loan in Greater Jakarta area
through the Company’s partnership with one
of the leading property sales websites
2022 2020
• Trinugraha Capital & Co SCA (TCC) conducted a • FIT obtained a Business License
Voluntary Tender Offer of the Company’s shares from OJK as the provider of IT-
based lending and borrowing
• Together with Mr. Garibaldi (Boy) Thohir, Mr. Jerry Ng services
became the Company’s controlling shareholder upon
passing the OJK’s fit and proper test
• Transfer of 75 million treasury shares of the Company
to eligible management personnel and employees
via MESOP
• The Company obtained the license from OJK to run the Sharia
Business Unit by offering products marketed via online and
conventional channels through its sharia representative
2018 branches across Indonesia, and launched two initial sharia
financing products, i.e., for umrah and halal travel
• FIT was registered on the OJK and commenced operations
officially via Pinjam Modal platform
2017 2016
• Established of a subsidiary, PT Finansial • Obtained the ‘AA-(idn)’ rating with
Integrasi Teknologi (FIT), a company that Outlook Stable from Fitch Ratings
provides IT-based money borrowing and from previously ‘A+(idn)’ with
lending services, based on the peer-to- Outlook Positive
peer (P2P) lending concept
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CORE VALUES AND CORPORATE CULTURE
G
Continuing to improve oneself as a contribution to the
Company
Grow and This value is adapted into three main behaviors, namely:
Improve Continuously
Studious Innovative Proactive
R
Cultivating mutual respect and care to maintain a positive
work environment
Respect and Care This value is adapted into three main behaviors, namely:
Respect Positive Caring
Solutions
E
Giving the best service to ensure internal and external
customers’ satisfaction
Excellent Service This value is adapted into three main behaviors, namely:
Positive Responsive Professional
A
Maintaining integrity in every action to maintain
professional reputation of oneself and the Company’s
Absolute Integrity This value is adapted into three main behaviors, namely:
Honest Consistent Compliant
T
Maintaining a spirit of cooperation and mutual trust to
achieve mutual goals
This value is adapted into three main behaviors, namely:
Trust and Team Spirit
Communicative Cooperative Synergistic
The Core Values underlying the Corporate Culture have been reviewed comprehensively to keep them up to date with the
Company’s dynamic business development. The Company’s BOC and BOD have approved the Core Values and Corporate
Culture to be the key guidelines for all employees in achieving the Company’s objectives of its business activities.
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To promote the digital transformation process development and the implementation of such processes to achieve BFI
Finance’s goal of becoming a tech-based multifinance company, with full support from all of the Company’s workforce
at all levels, on 17 October 2022 the Human Capital (HC) Department launched the “BFI New Mindset”. Accompanied by
the #NewMindset hashtag, the three-point launch, which is a statement of agreement among the management and all
employees of the Company to adopt this new positive mindset and behavior, consists of:
Possessing the courage to try new
Dare to Try and Learn approaches or new ways of solving
problems, and willing to learn from one’s
own successes or failures
Empower and Proactive in supporting others to carry
Collaborate with Other Parties out work according to the set targets, and
establishing effective collaboration with
other parties to achieve common goals
Listen, Speak Up, and Willing to listen and consider others’
Take Responsibility opinions when making decisions, and
possessing a strong initiative to take
responsibility for the consequences of
these decisions
The three new mindsets and behaviors of the Company’s workforce aim to complement the G.R.E.A.T. Core Values and
Corporate Culture, which remain applicable to this day. How the “BFI New Mindset” is disseminated and applied among
the employees is detailed in the Human Resources section of the Sustainability chapter pages 164–169.
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CORPORATE IDENTITY
Logogram
Company Name
Logotype
The logo of BFI Finance has been designed to reflect the Company’s identity and values. The logo comprises three
main elements, namely logogram, logotype, and company name. In their usage for all kinds of purposes, the logogram
and the logotype are inseparable. The various configurations of placement of the logogram, logotype, and company
name, along with the color palettes that are allowed, are detailed in a Corporate Brand Guidelines document in BFI
Finance, titled “Brand Visual Identity”.
LINE OF BUSINESS
Business Activities Currently, the Company is engaged in the following
business activities:
In accordance with POJK No. 35/POJK.05/2018 (POJK 1. In conventional financing, the Company provides
35) on Execution of Finance Companies’ Businesses, the flexible financing methods to support various business
Company’s scope of business covers the following: activities, as follows:
• Investment Financing; • Investment Financing includes means of financing
• Working Capital Financing; such as Finance Lease, Sale and Leaseback, and
• Multipurpose Financing; and Consumer Financing.
• Other financing activities approved by OJK. • Working Capital Financing includes Sale and
The scope of business of each of the above is carried out Leaseback as well as Working Capital means of
through these means: financing.
• Multipurpose Financing includes Consumer
• Finance Lease;
Financing and Funding Facilities means of financing.
• Sale and Leaseback;
2. In sharia financing, the Company offers Murabahah for
• Installment Financing, or also known as Consumer
Sale and Purchase Financing activities, and Ijarah and
Financing;
Al-Bai’ wa al-Isti’jar for Services Financing activities.
• Working Capital Facility;
• Funding Facility;
• Factoring (with recourse);
• Financing of projects, infrastructure, and others.
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Business Segments Sharia-based Consumer Financing
In line with the division of business activities in which the Sharia-based financing was started in 2018. The Company’s
Company is engaged, as explained above, the types of Sharia Business Unit (SBU) has received approval from OJK
business activities the Company conducts, by segment, are to conduct and market the use of deeds from sharia-based
as follows: financing, namely:
1. Ijarah contract for umrah financing;
Consumer Financing 2. Ijarah contract for halal travel financing;
3. Ijarah contract for financing of various services;
Consumer Financing includes the financing of new
4. Ijarah contract for education financing;
and used cars purchased via dealers, financing via the
5. Murabahah contract for motorized vehicle financing;
Company’s sales representatives (non-dealers) with used
6. Murabahah contract for financing of various goods; and
cars and used motorcycles as collateral, and financing with
7. Al-Bai’wa al-Isti’jar contract for sharia refinancing
property (house or shophouse certificate) as collateral.
Out of the seven sharia financing products, all managed
1. Financing of Cars via Dealers
by the SBU, the Company focused only on marketing four
Cars financing via dealers has been BFI’s core business
products, namely:
for more than 25 years. This product, offered in almost all
branches, provides financing facilities for new and used 1. My Hajat for financing of various services, such as house/
cars purchased via dealer partners. The financing term shophouse contract services, home renovation, and
ranges from one to up to four years, with a fixed interest consultancy;
rate. 2. My Car Syariah for financing of used four-wheeled
motorized vehicles;
2. Non-Dealer Financing of Cars and Motorcycles
3. My Faedah for financing of various goods, such as
Non-dealer financing was introduced in 2006 to
construction material, household goods, and other
serve the financing needs of the customers (car
goods that are beneficial to society; and
and motorcycle owners) directly, as well as existing
4. My B-Share for multipurpose financing or refinancing,
customers with repeat orders, new customers referred
for productive and consumptive purposes, such as for
by existing customers (Customer-Get-Customer
tuition, home renovation, and business development.
program), or through independent sales agents and
Telesales Call Centers (direct marketing and sales). The Marketing for My Ihram (umrah financing), My Safar (halal
Company’s target market is the low-to-middle income travel financing), and My Ta’lim (education financing)
segment. products are temporarily deactivated, in line with the
3. Property-Backed Financing SBU management’s focus on marketing sharia financing
Property-Backed Financing (PBF) is a financing solution for goods and services, and with the policy of requiring
secured by property assets, such as house or shophouse collateral in the form of proof of ownership of motorized
certificates. This product was introduced in 2013 and vehicles.
further developed in 2017 to meet market demands. All the above financing contracts are marketed online
It is designed for middle-income earners with fixed via BFI Finance Syariah microsite, https://www.bfi.co.id/
salaries, as well as entrepreneurs in the productive en/product/product-etc/syariah, other digital marketing
sector, including direct consumers (home or shophouse channels, and conventionally via the sharia representative
owners), repeat-order customers, and buyers through branches across 45 locations in various regions in Indonesia.
independent sales agents. Financing tenure is up
to seven years with a fixed interest rate. Since 2024,
the Company has established a strategic partnership Financing Product by Asset Type
with a leading e-commerce platform to provide
Consumer Financing and Finance Lease business segments
homeownership financing for pre-owned houses in
cover the following product portfolio by asset type:
Greater Jakarta area. This partnership offers a longer
financing tenure of up to ten years with a fixed interest 1. New cars;
rate, making homeownership more accessible to a 2. Used cars;
broader range of customers. 3. Used motorcycles;
4. Heavy equipment, consisting of:
Finance Lease • Heavy equipment;
• Trucks and public transportation;
Finance Lease business includes financial services aimed • Machinery;
at individual and corporate customers who purchase • Other equipment; and
or engage in sale and leaseback of heavy equipment, 5. Property.
machinery, motor vehicles, and other equipment, in new
Further explanation on the Company’s product portfolio
or used condition. Customers of the Company’s Finance
is presented in the Management Discussion and Analysis
Lease business generally come from the mining, trading,
chapter of this Integrated Annual Report pages 82–123.
construction, services, agriculture, manufacturing,
transportation, infrastructure, and other sectors.
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MAP AND OPERATIONAL NETWORK
SUMATRA
Branches Kiosks Sharia
39 1 8 KALIMANTAN
Branches Kiosks Sharia
22 3 5
GREATER JAKARTA
Branches Kiosks Sharia
27 13 10
JAVA, BALI & NUSA TENGGARA
Branches Kiosks Sharia
63 8 17
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EASTERN INDONESIA
(SULAWESI, MALUKU, PAPUA)
Branches Kiosks Sharia
40 6 5
Distribution of Branches, Kiosks, and Sharia 2022-2024
(as of 31 December 2024)
34 31 31
Branches
45 45 45
2022 2023 2024 Kiosks
203 195 191
Sharia
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ORGANIZATION STRUCTURE
BFI Finance’s organization structure as at 31 December 2024 was as follows:
GENERAL MEETING
OF SHAREHOLDERS
SHARIA SUPERVISORY
BOARD
Asrori S. Karni (Chairman)
Helda Rahmi Sina
PRESIDENT DIRECTOR
Francis Lay Sioe Ho
BUSINESS & ASSET OPERATIONS FINANCE TRANSFORMATION
MANAGEMENT DIRECTOR DIRECTOR DIRECTOR
DIRECTOR
Sutadi Andrew Adiwijanto Sudjono Goklas
NEW BUSINESS ASSET OPERATIONS & FINANCE & PMO & DATA
MARKETING
TRIBE MANAGEMENT & SERVICE EXCELLENCE TREASURY MANAGEMENT
INVENTORY
Tan Rudy Baskoro Fadin Margaretha Tarigan Tonny Widjaja David Thamin
Eddywidjaja Wafdana Iwan
BRANCH BUSINESS FINANCIAL
CORE BUSINESS ASSET PARTNER CONTROL
HUMAN CAPITAL
TRIBE MANAGEMENT
Masmudi Jefry Suryo
Ary Suharso Arwin Ute Gerdanovita
INSURANCE & CORPORATE
OPERATIONAL COMMUNICATION,
CHANNEL TRIBE INVENTORY
SERVICES CSR & CPDM
Kardiawan Kurniawan Ika Santi Francisca Susilawati
Susanto Rimbajaya
CORPORATE & COMPENSATION,
DEALER FINANCING BENEFITS & DIGITAL &
REWARDS BUSINESS
Stanly Darisang INCUBATION
Luki Sri Herlambang
Ari Binoto
Lumbantobing
SHARIA
Deni Nasri
NATIONAL SALES
(TBA)**
BUSINESS PROJECT
& COMMUNICATION
Anov Finanda
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BOARD OF COMMISSIONERS
President Commissioner : Kusmayanto Kadiman
Commissioner : Sunata Tjiterosampurno
Commissioner : Saurabh Narayan Agarwal
Independent Commissioner : Johanes Sutrisno
Independent Commissioner : Alfonso Napitupulu
NOMINATION & RISK OVERSIGHT
AUDIT COMMITTEE
REMUNERATION COMITTEE COMMITTEE
Alfonso Napitupulu (Chairman)* Johanes Sutrisno (Chairman)* Johanes Sutrisno (Chairman)*
Sunata Tjiterosampurno* Friso Palilingan Jono Effendy
Luki Sri Herlambang* Edy Sugito
SHARIA PRODUCT & HEAD OF CORPORATE
BUSINESS ACTIVITY INTERNAL AUDIT SECRETARY
DEVELOPMENT COMITTEE
Fledy Rizmara Sudjono*
Deni Nasri (Chairman)*
August Rinaldi Sanoesi*
Emiliana Woro Saptiti Hari Putri
Arwin* HEAD OF CORPORATE
COMPLIANCE
Budi Darwan Munthe
RISK MANAGEMENT
COMMITTEE
Francis Lay Sioe Ho (Chairman)* HEAD OF RISK
Sudjono* MANAGEMENT
August Rinaldi Sanoesi*
August Rinaldi Sanoesi
Amy Setyawati
IT STEERING COMMITTEE
Francis Lay Sioe Ho (Chairman)*
Sudjono*
Sutadi*
Andrew Adiwijanto*
Goklas*
Ari Binoto Lumbantobing*
Reporting lines * Concurrent position
Coordination/supervisory lines ** To be assigned
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WORKFORCE PROFILE
Table 5 | Total Employees
Comparison with Last Year
Description 2023 2024
Total Percentage
Total Employees 11,207 10,198 (1,009) -9.0%
Table 6 | Number of Employees by Directorate
Directorate Male Female Total
BOC & Sharia Supervisory Board 6 1 7
BOD 5 - 5
Risk & Transformation 369 375 744
Finance 522 108 630
Operation 1,312 1,077 2,389
Marketing & Asset Management 5,426 929 6,355
PT FIT 50 18 68
Total 7,690 2,508 10,198
Table 7 | Number of Employees by Employment Status
Employment Status Male Female Total
Permanent 4,091 1,652 5,743
Non-permanent 3,599 856 4,455
Total 7,690 2,508 10,198
Table 8 | Number of Employees by Employment Contract
Employment Contract Male Female Total
Full Time 7,690 2,508 10,198
Part Time - - -
Total 7,690 2,508 10,198
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Table 9 | Number of Employees by Region
Region Male Female Total
Head Office 792 527 1,319
Greater Jakarta 1,524 420 1,944
Java, Bali & Nusa Tenggara 2,418 671 3,089
Sumatra 1,140 320 1,460
Kalimantan 655 222 877
Eastern Indonesia (Sulawesi, Maluku, Papua) 1,161 348 1,509
Total 7,690 2,508 10,198
Table 10 | Number of Employees by Level of Education
Level of Education Male Female Total
Master’s & Doctoral Degree 60 29 89
Bachelor’s Degree 5,235 2,002 7,237
Diploma 574 245 819
High School & below 1,821 232 2,053
Total 7,690 2,508 10,198
Table 11 | Number of Employees by Position Level
Position Level Male Female Total
BOC, BOD & Sharia Supervisory Board 11 1 12
Senior Manager 103 21 124
Junior Manager 464 131 595
Officer 2,678 1,035 3,713
Staff 4,434 1,320 5,754
Total 7,690 2,508 10,198
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Table 12 | Number of Employees by Age Group
Age Group Male Female Total
< 25 years 942 482 1,424
25-30 years 3,188 1,082 4,270
31-40 years 3,016 808 3,824
41-50 years 487 122 609
> 50 years 57 14 71
Total 7,690 2,508 10,198
Table 13 | Number of Employees by Tenure
Tenure Male Female Total
< 3 years 4,019 1,113 5,132
3-5 years 1,160 386 1,546
6-10 years 1,638 604 2,242
> 10-20 years 784 366 1,150
> 20 years 89 39 128
Total 7,690 2,508 10,198
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BOARD OF COMMISSIONERS PROFILES
In 2024, the composition of BOC members was unchanged.
He serves as the Company’s President Commissioner pursuant to the Deed of AGMS
Minutes No. 80 dated 15 June 2011 (2011–2016), was reappointed pursuant to the Deed
of EGMS Minutes No. 43 dated 25 April 2016 (2016–2021), and the Deed of EGMS Minutes
No. 3 dated 25 May 2021 in conjunction with the Deed of Meeting Resolutions Statement
No. 4 dated 25 May 2021 for the period 2021–2026. He earned the Basic Financing
Certification from PT Sertifikasi Profesi Pembiayaan Indonesia (SPPI) on 27 July 2016.
Dual Positions
He also has been serving as Vice President Commissioner of PT Adaro Power (since 2015),
Independent Commissioner of PT Profesional Telekomunikasi Indonesia Tbk (Protelindo)
(since 2017), Independent Commissioner of PT Sarana Menara Nusantara Tbk (since
2020), and Independent Commissioner of PT Global Digital Niaga Tbk (since 2022).
Career History
Previously, he served as President Commissioner of PT Setiabudi Investment
Management (2016–2024), a member (advisor) of the International Advisory Board
Kusmayanto Kadiman
of Komatsu Ltd, Japan (2021 – 2023), Commissioner of PT Tamaris Hidro (2015–2020),
President Commissioner
President Commissioner of PT iForte Solusi Infotek (2016–2017), commissioner and
advisor at several companies focusing on natural resources and power generation (since
Indonesian Citizen
2009), Minister of Research and Technology of the Republic of Indonesia (2004–2009),
70 years old
Chairman of Asian–Europe University Network (ASEA–UNINET) in 2002–2004, Rector of
Tangerang, Banten
Bandung Institute of Technology (ITB) in 2001–2004, Head of Technology Development
Center of ITB (1998–2001), Head of ITB Control Laboratory (1995–1998), Director of Business
Group in Jakarta (1993–1995), and Director of ITB Computer Center (1990–1993).
Affiliate Relationships
In connection with his position at PT Adaro Power (subsidiary of PT Adaro Energy Tbk),
he has an affiliation with the controlling shareholder, Trinugraha Capital & Co SCA. There
are no affiliations with other members of the BOC and members of the BOD.
Education
He obtained his Doctor of Philosophy degree from the Australian National University,
Canberra, Australia, in 1988, and Bachelor of Engineering Physics from ITB in 1977.
He serves as the Company’s Independent Commissioner pursuant to the Deed of AGMS
Minutes No. 80 dated 15 June 2011 (2011–2016), was reappointed pursuant to the Deed
of EGMS Minutes No. 43 dated 25 April 2016 (2016–2021), and the Deed of EGMS Minutes
No. 3 dated 25 May 2021 in conjunction with the Deed of Meeting Resolutions Statement
No. 4 dated 25 May 2021 for the period 2021–2026. He also serves as Chairman of the
Audit Committee and Chairman of the Risk Oversight Committee. He earned the Basic
Financing Certification from SPPI on 2 March 2017.
Dual Positions
He also serves as Chairman of the Audit Committee and the Risk Oversight Committee.
He does not have any concurrent positions outside BFI Finance.
Career History
He once joined BFI Finance as a Credit Officer (1982–1991), then Director (1991–1999) and
Johanes Sutrisno President Commissioner (2000–2011).
Independent He was also Director of PT Gaudi Dwi Laras (2014–2016), member of the Audit Committee
Commissioner of PT Bentoel International Investama Tbk (2010–2016), Finance Director of PT Carsurin
(2007–2013), joined the Mutual International Finance Corporation (1980–1982), and
Indonesian Citizen Auditor in SGV, Utomo, Mulia & Co. (1973–1976).
73 years old
Jakarta, DKI Jakarta Affiliate Relationships
He does not have any affiliations with other members of the BOC, members of the BOD,
major and controlling shareholders; either directly or indirectly.
Education
He obtained his Master of Business Administration (MBA) degree from Gadjah Mada
University, Yogyakarta, in 2009, and Bachelor of Economics in Management (Drs.) from
Universitas Indonesia, Jakarta, in 1980.
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He serves as the Company’s Independent Commissioner pursuant to the Deed of AGMS
Minutes No. 80 dated 15 June 2011 (2011–2016), was reappointed pursuant to the Deed
of EGMS Minutes No. 43 dated 25 April 2016 (2016–2021), and the Deed of EGMS Minutes
No. 3 dated 25 May 2021 in conjunction with the Deed of Meeting Resolutions Statement
No. 4 dated 25 May 2021 for the period 2021–2026. He earned the Basic Financing
Certification from SPPI on 12 June 2015.
Dual Positions
He also serves as Chairman of the Nomination and Remuneration Committee and holds
a concurrent position as Managing Partner at the Law Office of Alfonso Napitupulu &
Partners, Jakarta (since 1993).
Career History
Previously, he concurrently served as Statutory Management Expert Staff of AJB
Alfonso Napitupulu Bumiputera 1912 (2016–2017), Independent Commissioner of PT BRI Asuransi Indonesia
Independent (BRINS General Insurance) (2015–2021), Commissioner and President Commissioner of
Commissioner PT Kredit Biro Indonesia Jaya (KBIJ) for the period 2014–2016 and 2016–2018, President
Director of PT Nana Mandiri Dwikarya (1989–2020), and Advisory Board of Indonesian
Indonesian Citizen Advocates Association (Perhimpunan Advokat Indonesia/PERADI) (2015–2020).
74 years old
Prior to joining BFI Finance, he was a Partner at the Law Office of Alfonso, Giunseng
Jakarta, DKI Jakarta
& Kolopaking, Jakarta (1988–1993), International Lawyer Practitioner at the Law Office
of Bronson & McKinnon, San Francisco, California, USA (1984–1985), Partner at the Law
Office of Gani Djemat & Partners (1975–1988), and Legal Consultant Advocate for Capital
Market and Intellectual Property Rights (1976).
Affiliate Relationships
He does not have any affiliations with other members of the BOC, members of the BOD,
and major and controlling shareholders; either directly or indirectly.
Education
He obtained his Bachelor of Law degree (Civil Law) from Universitas Indonesia, Jakarta,
in 1975.
He serves as the Company’s Commissioner pursuant to the Deed of EGMS Minutes No.
44 dated 15 April 2015 in conjunction with the Deed of Meeting Resolutions Statement
No. 3 dated 6 July 2015 (2015–2020), then was reappointed pursuant to the Deed of EGMS
Minutes No. 7 dated 29 June 2020 in conjunction with the Deed of Meeting Resolutions
Statement No. 8 dated 29 June 2020 for the period 2020–2025. He earned the Basic
Financing Certification from SPPI on 27 July 2016.
Dual Positions
He also serves as member of the Nomination and Remuneration Committee. Previously,
he was member of the Risk Management Committee (now Risk Oversight Committee)
from May 2013 until September 2014.
Currently, he also holds the positions of Managing Director of Northstar Advisors Pte.
Ltd. since 2006, Commissioner of PT Trimegah Sekuritas Indonesia Tbk since 2013 and PT
Bundamedik Tbk (BMHS) since 2022.
Career History
Sunata Tjiterosampurno
He once served as a Commissioner of PT Delta Dunia Makmur Tbk (2011–2022), President
Commissioner
Commissioner of PT Bukit Makmur Mandiri Utama (2009–2021), Commissioner
concurrently serving as a member of the Audit, Risk Monitoring, and Remuneration and
Indonesian Citizen Nomination Committees of PT Bank Tabungan Pensiunan Nasional Tbk (2008–2015),
52 years old Director of Investment Banking of PT Danareksa Sekuritas (2004–2006), and a Consultant
Jakarta, DKI Jakarta at Boston Consulting Group, Jakarta (1998–2004). His career began as Assistant Vice
President for Equity Research of PT Lippo Securities – SBC Warburg (1995–1998).
Affiliate Relationships
In connection with his position at Northstar Advisors Pte. Ltd., he has an affiliation with
the controlling shareholder, Trinugraha Capital & Co SCA. There is no affiliation with
other members of the BOC and members of the BOD.
Education
He obtained his Master of Finance (Merit) degree from London Business School,
UK, 2002, and Bachelor of Business Administration (Distinction) from University of
Wisconsin–Madison, USA, in 1995.
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He serves as the Company’s Commissioner pursuant to the Deed of EGMS Minutes No. 7
dated 16 May 2023 for the period 2023–2028. He earned the Basic Financing Certification
from SPPI on 28 July 2023.
Dual Positions
He also has been serving as Managing Director and Head of Southeast Asia Private
Equity of Warburg Pincus LLC since 2016 in Singapore, where he relocated from the
company’s headquarter in New York, USA, which he joined in 2009. Currently, he is also
a Director of Advance Intelligence Group (ADVANCE.AI), Oona Insurance Singapore
(Oona Holding Pte. Ltd.), Circles.Life, Everise, GCash (Mynt – Globe Fintech Innovations,
Inc.), MoMo Pay, and Techcombank (Vietnam Technological and Commercial Joint Stock
Bank).
Career History
Previously, he was a Commissioner of PT Asuransi Bina Dana Arta Tbk or ABDA (2022–
Saurabh Narayan Agarwal 2024). Prior to joining Warburg Pincus, he worked at McKinsey & Company in New Jersey
Commissioner (USA) and New Delhi (India) as Business Analyst (2004–2007), and Temasek Holdings
in Mumbai (India) as Private Equity Investment Associate (2007). He also previously
Singaporen Citizen served on the boards of various companies, among others, AAG Energy Holdings Ltd.
43 years old (HKG:2686), CleanMax Enviro Energy Solutions Pvt. Ltd., Converge Information and
Singapore Communications Technology Solutions, Inc. (Converge ICT), Competitive Power Ventures,
Inc. (CPV), Solar Mosaic LLC (Mosaic Inc.), RimRock Oil & Gas, RS Energy Group, Trident
Energy, CASA Exploration, Canbriam Energy Inc., Delonex Energy Ltd., Velvet Energy Ltd.,
Venari Resources LLC, Liberty Wireless Pte. Ltd., and M-Service GmbH.
Affiliate Relationships
In connection with his position at Warburg Pincus, he has an affiliation with the
controlling shareholder, Trinugraha Capital & Co SCA. There is no affiliation with other
members of the BOC and members of the BOD.
Education
He holds a Bachelor of Technology (B.Tech.) degree in Electrical Engineering and a
Master of Science (M.S.) degree in Microelectronics in 2004 from the Indian Institute of
Technology (IIT) Bombay, India, as well as a Master of Business Administration (M.B.A.)
degree in 2009 from Harvard Business School, USA.
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BOARD OF DIRECTORS PROFILES
In 2024, the composition of BOD members changed with the appointment of Goklas as a Director effective from the
closing of the 2024 EGMS.
Appointed as Director of the Company in 1982 and elected as President Director in 1986.
He was reappointed to the same position pursuant to the Deed of AGMS Minutes No.
80 dated 15 June 2011 (2011–2016), the Deed of EGMS Minutes No. 43 dated 25 April 2016
(2016–2021), and the Deed of EGMS Minutes No. 3 dated 25 May 2021 in conjunction with
the Deed of Meeting Resolutions Statement No. 4 dated 25 May 2021 for the period 2021–
2026. He earned the Basic Financing Certification from PT Sertifikasi Profesi Pembiayaan
Indonesia (SPPI) on 2 March 2017.
Dual Positions
Pursuant to the Shareholders’ Resolutions in Lieu of GMS of PT FIT (the Company’s
subsidiary) dated 29 July 2021 as per Deed of Shareholders’ Resolutions Statement in
Lieu of GMS of PT FIT No. 06 dated 5 August 2021, he was also appointed as the President
Commissioner of PT FIT.
He has been serving as Chairman of two BOD Committees, namely the Risk
Francis Lay Sioe Ho Management Committee (since 2023) and the Information Technology (IT) Steering
President Director Committee (since 2021). There are no other positions held outside of BFI Finance and FIT.
Career History
Indonesian Citizen
Prior to joining BFI Finance, he worked at Singapore Ministry of Finance (1972–1973), then
76 years old
joined PT Indovest (1975–1980).
Jakarta, DKI Jakarta
Affiliate Relationships
He does not have any affiliations with other BOD members, BOC members, major and
controlling shareholders; either directly or indirectly.
Education
He earned his Bachelor of Business Administration (BBA) degree from the University of
Singapore (now the National University of Singapore or NUS) in Singapore in 1972, and
Master of Business Management (MBM) from the Asian Institute of Management (AIM)
in Manila, Philippines, in 1975.
He serves as the Company’s Business Director pursuant to the Deed of EGMS Minutes
No. 18 dated 6 May 2014 (2014–2019) and was reappointed to the same position pursuant
to the Deed of EGMS Minutes No. 59 dated 28 May 2019 (2019–2024). Then, based on the
Deed of EGMS Minutes No. 5 dated 22 May 2024 in conjunction with the Deed of Meeting
Resolutions Statement No. 7 dated 22 May 2024, he was appointed as Business and
Asset Management Director for the period 2024–2027. He earned the Basic Financing
Certification from SPPI on 26 April 2016.
Dual Positions
Since 2021, he has been a member of the IT Steering Committee (one of the BOD
Commitees). There are no other positions held outside of BFI Finance.
Career History
Previously, he served in various other positions at the Company, among others, Retail
Business Division Head until April 2014, Department Head and Associate Division Head
Sutadi (2008–2012), Regional Manager (2006–2008), Branch Manager (2004–2006), Branch
Business & Asset Establishment Manager (2001–2004), and Branch Manager (2000–2001).
Management Director He also had served as Sales Executive in Marketing Export of PT Tjiwi Kimia Pulp & Paper
(1999–2000) and Collection & Credit Analyst Officer of PT Bunas Finance Indonesia
Indonesian Citizen (1997–1999).
50 years old
Affiliate Relationships
Tangerang, Banten
He does not have any affiliations with other BOD members, BOC members, major and
controlling shareholders; either directly or indirectly.
Education
He earned his Executive MBA degree from IPMI International Business School, Jakarta, in
2018, and Bachelor of Industrial Engineering from Trisakti University, Jakarta, in 1998.
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He serves as the Company’s Finance Director pursuant to the Deed of EGMS Minutes No.
18 dated 6 May 2014 (2014–2019) and was reappointed to the same position pursuant to
the Deed of EGMS Minutes No. 59 dated 28 May 2019 (2019–2024), and the Deed of EGMS
Minutes No. 5 dated 22 May 2024 in conjunction with the Deed of Meeting Resolutions
Statement No. 7 dated 22 May 2024 for the period 2024–2027. He concurrently holds the
position of Corporate Secretary based on the BOD Decree No. BOD–BOC/VI/2014–0011
dated 24 June 2014. He earned the Basic Financing Certification from SPPI on 26 April
2016.
Dual Positions
Referring to the Shareholders’ Resolutions in Lieu of GMS of PT FIT (the Company’s
subsidiary) dated 29 July 2021 as per Deed of Shareholders’ Resolutions Statement in
Lieu of GMS of PT FIT No. 06 dated 5 August 2021, he also serves as the Commissioner of
PT FIT.
Sudjono Since 2021, he has been a member of two BOD Committees, namely the Risk
Finance Director Management Committee and the IT Steering Committee. There are no other positions
held outside of BFI Finance and FIT.
Indonesian Citizen
Career History
54 years old
Previously, he also served as Information Technology Director from May 2014 to May
Tangerang Selatan, Banten
2017. Prior to his appointment as Director, he held the positions of Head of Finance and
Information Technology Division and various other positions (1993–2014), and member
of the Risk Management Committee (2003–2013) now known as the Risk Oversight
Committee.
Prior to joining BFI Finance, he had served as Senior Auditor at the Public Accounting
Firm of Hans Tuanakotta Mustofa – member firm of Deloitte Touche Tohmatsu
International (1991–1993).
Affiliate Relationships
He does not have any affiliations with other BOD members, BOC members, major and
controlling shareholders; either directly or indirectly.
Education
He obtained his Enterprise Risk Manager (ERM™) title from Asia Risk Management
Institute (ARiMI) and National University of Singapore (NUS) in Singapore in 2009, Master
of Business Administration (MBA) from Institut Pengembangan Manajemen Indonesia
(IPMI), Jakarta, in 2006, and Bachelor of Economics majoring in Accounting from
Tarumanagara University, Jakarta, in 1993
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He serves as the Company’s Operations and Human Capital Director pursuant to the
Deed of EGMS Minutes No. 25 dated 18 April 2017 in conjunction with the Deed of
Meeting Resolutions Statement No. 15 dated 13 June 2017 for the period 2017–2022, and
was reaffirmed for the period 2022–2027 by the Deed of EGMS Minutes No. 17 dated
29 June 2022 in conjunction with the Deed of Meeting Resolutions Statement No. 18
dated 29 June 2022. In 2023, he also held the responsibility for asset management on an
interim basis and then transferred it to Sutadi (Business & Asset Management Director)
in early 2024. He has been fully responsible as Operations Director since May 2024. He
earned the Basic Financing Certification from SPPI on 27 July 2017.
Dual Positions
Since 2022, he has been a member of the IT Steering Committee (a BOD Commitee).
There are no other positions held outside of BFI Finance.
Career History
Andrew Adiwijanto
Previously, he was a member of the Nomination and Remuneration Committee
Operations Director
from April 2015 to April 2017, Head of Operations & Control (2012–2017), and Head of
Compensation & Benefit (2014–2017). He joined BFI Finance in 1993 as a Marketing Officer
Indonesian Citizen
and has held various other positions, among others, Branch Manager in Makassar,
56 years old
Denpasar, and Palembang, Regional Manager for Sumatra Region, and Department
Jakarta, DKI Jakarta
Head of Quality Service, Corporate Services, Human Resources, as well as Branch
Operations.
Affiliate Relationships
He does not have any affiliation with other BOD members, BOC members, major and
controlling shareholders; either directly or indirectly.
Education
He earned his Master of Business Administration (MBA) degree from Gadjah Mada
University, Jakarta, in 2013, and Bachelor of Electrical Engineering from Sekolah Tinggi
Teknik Surabaya (STTS), East Java, in 1992. He obtained a special certificate for joining
“Human Capital Management: Making HR & Business Partnership Work”, an intensive
course from the Asian Institute of Management (AIM) in Manila, Philippines, in 2008.
He serves as the Company’s Transformation Director pursuant to the Deed of EGMS
Minutes No. 5 dated 22 May 2024 in conjunction with the Deed of Meeting Resolutions
Statement No. 7 dated 22 May 2024 for the period 2024–2027. Then, based on the Decree
of the BOC of OJK No. KEP-462/PL.02/2024 dated 29 October 2024 on the Fit and Proper
Assessment Result of Goklas as a Director Candidate of PT BFI Finance Indonesia Tbk, he
was approved as a Company Director effective from the date of appointment. He earned
the Basic Financing Certification from SPPI on 3 June 2024.
Dual Positions
Since 2021, he has been a member of the IT Steering Committee (a BOD Commitee).
There are no other positions held outside of BFI Finance.
Career History
Previously, he served as Head of Project Management Office (2015–2024). He joined BFI
Finance in 2001 as a Management Trainee and has held various other positions, including
Goklas Product Head at branch level, Branch Manager, Head of Non-Dealer Financing Product
Transformation Director Development, and Head of Business Development.
Indonesian Citizen Affiliate Relationships
46 years old He does not have any affiliations with other BOD members, BOC members, major and
Jakarta, DKI Jakarta controlling shareholders; either directly or indirectly.
Education
He earned his Executive MBA from IPMI International Business School in Jakarta in
2023, Management Development Program from the Asian Institute of Management
(AIM) in Manila, Philippines, in 2007, and Bachelor of Economics majoring in Financial
Management from Universitas Indonesia in 2000.
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SHARIA SUPERVISORY BOARD PROFILES
He serves as the Company’s Chairman of Sharia Supervisory Board pursuant to the Deed
of Minutes of EGMS No. 6 dated 25 October 2017 in conjunction with the Deed of Meeting
Resolutions Statement No. 19 dated 21 December 2017 for the period 2017–2022, and was
reaffirmed for the period 2022–2027 by the Deed of EGMS Minutes No. 17 dated 29 June
2022 in conjunction with the Deed of Meeting Resolutions Statement No.18 dated 29
June 2022.
He obtained his Sharia Supervisory Competency Certificate from the Professional
Certification Agency (LSP) of National Sharia Board–Indonesian Ulema Council (DSN–
MUI) on 28 November 2018. The certificate was renewed on 22 July 2024 and is valid until
22 July 2027.
Dual Positions
Currently, he is a Lecturer of Sharia Economic Law Study Program at Sharia and Law
Asrori S. Karni Faculty of State Islamic University (UIN) Syarif Hidayatullah Jakarta since 2013, also serves
Chairman of Sharia as Deputy Secretary–General of MUI Headquarters (2020–2025), Chairman of Sharia
Supervisory Board Supervisory Board of PT Sinar Mitra Sepadan (SMS) Finance (since 2021), and a member
of Sharia Supervisory Board of PT Indomobil Finance Indonesia (since 2014).
Indonesian Citizen
49 years old Career History
Jakarta, DKI Jakarta He was previously an Assistant to the Special Staff of the RI Vice President K.H. Ma’ruf
Amin (2019–2024), Chairman of the Sharia Supervisory Board of the Sharia Business
Division of PT Pos Indonesia (Persero) (2022–2023), a Lecturer of Sharia Economics
Study Program at Universitas Nahdlatul Ulama Indonesia (UNUSIA) Jakarta (2012–2021),
Vice Chairman of Qanuniyah (Islamic Law) at Bahtsul Masail Institute of the Board
of Nahdlatul Ulama (LBM PBNU) (2015–2020), and Chairman of the Information and
Communications Commission of MUI Headquarters (2015–2020).
Affiliate Relationships
He does not have any affiliations with the members of Sharia Supervisory Board, BOC
and BOD, as well as major and controlling shareholders; either directly or indirectly.
Education
He earned his Master of Laws degree majoring in Economic Law from Universitas
Indonesia in 2010, and Bachelor of (Islamic) Religion majoring in Comparative Madhhab
and Law from Sharia and Law Faculty at Institut Agama Islam Negeri (IAIN) Syarif
Hidayatullah; now known as UIN Syarif Hidayatullah Jakarta; in 1998.
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She serves as the Company’s Member of Sharia Supervisory Board pursuant to the Deed
of Minutes of EGMS No. 6 dated 25 October 2017 in conjunction with the Deed of Meeting
Resolutions Statement No. 19 dated 21 December 2017 for the period 2017–2022, and was
reaffirmed for the period 2022–2027 by the Deed of EGMS Minutes No. 17 dated 29 June
2022 in conjunction with the Deed of Meeting Resolutions Statement No.18 dated 29
June 2022.
Dual Positions
Currently, her concurrent positions include Chief of Strategic Alliance at Hurriyah Global
Consulting Firm (HGC Firm), General Secretary of Yayasan Pendidikan Fatahillah Jakarta
(YPFJ), Postgraduate Program Lecturer at Sekolah Tinggi Ilmu Ekonomi Indonesia
(STEI) Rawamangun, East Jakarta, as well as the Faculty Member of Indonesian Banking
Development Institute (Lembaga Pengembangan Perbankan Indonesia/LPPI).
Helda Rahmi Sina
Career History
Member of Sharia
Previously, she was a Head of Marketing and Training Division of LPPI (2020–2023), Head
Supervisory Board
of Consultation and Development Division for Sharia Financial Program at International
Center for Development in Islamic Finance – Indonesian Banking Development Institute
Indonesian Citizen
(ICDIF–LPPI) (2014–2020), member of the Sharia Economics Expert Board at Universitas
51 years old
Azzahra in East Jakarta (2010–2014), worked as a Lecturer of Sharia Contracts & Products
Jakarta, DKI Jakarta
course for the M.B.A. in Sharia Banking & Finance Program at Bandung Institute of
Technology or ITB (2009–2015), Head of Sharia Financial Program Implementation
Department at ICDIF–LPPI (2008–2014), and President of Sekolah Tinggi Ekonomi Islam
Tiara (STEI Tiara) Rawamangun, East Jakarta (2006–2008).
Affiliate Relationships
She does not have any affiliations with the Chairman of Sharia Supervisory Board, BOC
and BOD members, as well as major and controlling shareholders; either directly or
indirectly.
Education
She graduated from her Doctoral Program in Sharia Economics from Universiti Malaya,
Kuala Lumpur, Malaysia, in 2007, earned her Master in Islamic Economics (MA) degree
from Universiti Kebangsaan Malaysia in 2000, and Bachelor of Syariah Islamiyyah (Lc)
from the Faculty of Islamic Studies and Arabic Language, Al–Azhar University in Cairo,
Egypt, in 1996.
COMMITTEES OF THE BOARD OF COMMISSIONERS PROFILES
Audit Committee
He was appointed as Chairman of the Audit Committee pursuant to the BOC Decree
No. BOC/SK/I/2021-001 dated 26 January 2021 for the period 2021–2026. He also serves as
Independent Commissioner and Chairman of the Risk Oversight Committee. His profile
is presented in the BOC Profiles section page 63.
Johanes Sutrisno
Chairman of the
Audit Committee
Indonesian Citizen
73 years old
Jakarta, DKI Jakarta
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He serves as a member of the Audit Committee pursuant to the BOC Decree No. BOC/
SK/IV/2015/0081 dated 13 April 2015, was reaffirmed by the BOC Decree No. BOC/SK/
VI/2016-05 dated 21 June 2016 (2016–2021), and subsequently reappointed by the BOC
Decree No. BOC/SK/I/2021-001 dated 26 January 2021 for the period 2021–2026.
Dual Positions
At present, he also serves as a Senior Partner at Certified Public Accounting Firm Paul
Hadiwinata, Hidajat, Arsono, Retno, Palilingan & Rekan (PKF Indonesia, member of PKF
International), as an Independent Commissioner and Chairman of the Audit Committee
of PT Intiland Development Tbk, as a Commissioner of PT Kiat Ananda Cold Storage,
PT Ananda Solusindo, PT Manggala Kiat Ananda, and PT Mitra Ananda Megadistrindo,
as well as a member of the Audit Committee of PT Asahimas Flat Glass Tbk. In 2024,
he has also been serving as a Commissioner of PT Bersama Untuk Nusantara and PT
Profesional Telekomunikasi Indonesia Tbk (Protelindo).
Friso Palilingan
Member of the Career History
Audit Committee Previously, he served as a partner of a global top five accounting firm, a member of
Indonesian Citizen the Audit Committees of PT Medikaloka Hermina Tbk, PT Duta Intidaya Tbk, PT Cisarua
41 years old Mountain Dairy (Cimory), PT Provident Investasi Bersama Tbk, and PT BNI Sekuritas,
Jakarta, DKI Jakarta as well as a member of the Financial Accounting Standards Board at the Institute of
Indonesia Chartered Accountants.
Affiliate Relationships
He does not have any affiliations with other members of the BOC Committees, BOC
and BOD members, as well as major and controlling shareholders; either directly or
indirectly.
Education
He obtained his Bachelor of Economics degree in Accounting in 2005 and Master
of Accounting in 2008, both from Kwik Kian Gie School of Business, Certified Public
Accountant (CPA) in 2008 and Chartered Accountant (CA) in 2013, both from IAI, as
well as Certified Audit Committee Practitioner from Indonesian Institute of Audit
Committee (IKAI) in 2016.
He serves as a member of the Audit Committee pursuant to the BOC Decree No. BOC/
SK/VI/2016-05 dated 21 June 2016 (2016–2021) and was reappointed by the BOC Decree
No. BOC/SK/I/2021-001 dated 26 January 2021 for the period 2021–2026.
Dual Positions
He also serves as President Commissioner/Independent Commissioner of PT Trimegah
Sekuritas Indonesia Tbk and an Independent Commissioner in several companies,
namely PT PP London Sumatra Indonesia Tbk, PT Wismilak Inti Makmur Tbk,
PT Dharma Satya Nusantara Tbk (since 2013), and PT Madusari Murni Indah Tbk (since
2024).
Career History
Previously, he was a Commissioner of PT Gayatri Kapital Indonesia (until 2023), Director
of Company Valuation of PT Bursa Efek Indonesia (2000–2005), Director of PT Kliring
Edy Sugito Penjaminan Efek Indonesia (2000–2005), and Director of PT Kustodian Sentral Efek
Member of the Indonesia (1998–2000).
Audit Committee
Affiliate Relationships
Indonesian Citizen He does not have any affiliations with other members of the BOC Committees, BOC
60 years old and BOD members, as well as major and controlling shareholders; either directly or
Jakarta, DKI Jakarta indirectly.
Education
He earned his Bachelor of Economics degree in Accounting from Trisakti University,
Jakarta, in 1991.
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Risk Oversight Committee
He was appointed as Chairman of the Risk Oversight Committee pursuant to the BOC
Decree No. BOC/SK/VI/2016-05 dated 21 June 2016 (2016–2021) and was reappointed by
the BOC Decree No. BOC/SK/VI/2021-0092 dated 15 June 2021 for the period 2021–2026.
He also serves as Independent Commissioner and Chairman of the Audit Committee.
His profile is presented in the BOC Profiles section page 63.
Johanes Sutrisno
Chairman of the
Risk Oversight Committee
Indonesian Citizen
73 years old
Jakarta, DKI Jakarta
He serves as a member of the Risk Oversight Committee pursuant to the BOC Decree
No. BOC/SK/IV/2015-0081 dated 13 April 2015, was reaffirmed by the BOC Decree No.
BOC/SK/VI/2016-05 dated 21 June 2016 (2016–2021), and subsequently reappointed by the
BOC Decree No. BOC/SK/VI/2021-0092 dated 15 June 2021 for the period 2021–2026.
Dual Positions
He is the Founder and President Director of PT Pasar Jasa Profesional (since 2019).
Currently, he also serves as an Independent Commissioner and concurrently a member
of the Risk Oversight Committee (since 2020), the Good Corporate Governance
Committee (since 2022), and the Audit Committee (since 2024) of PT FWD Insurance
Indonesia, as well as a member of the Audit and the Risk Oversight Committees of PT
Nusantara Finance Cakrawala (since 2023).
Career History
He previously served as a member of the Audit and the Risk Oversight Committees of
PT Bank Commonwealth (2013–2024), an Independent Commissioner and Chairman
of the Risk Oversight Committee of PT Commonwealth Life (2014–2020), Managing
Director of PT Mudita Finansial Teknologi for 3 years, Managing Director of PT Kiran
Resources Indonesia for 14 years, and a member of Audit Committee and Risk
Jono Effendy Monitoring Committee in several banks and financial institutions, such as PT Bank BNP
Member of the Paribas Indonesia (11 years), PT Bank Barclays Indonesia (1 year), and PT BII Finance
Risk Oversight Committee Centre (2 years). From 2001 to 2004, he held various positions at the Indonesian Bank
Indonesian Citizen Restructuring Agency (BPPN).
50 years old He began his career at PT Tanjung Johor Wood Industry, Jakarta (1993–1996) as an
Jakarta, DKI Jakarta Accountant, then as a Senior Auditor at Arthur Andersen, Jakarta (1996–1998), and a
Senior Consultant at Deloitte Touche, Jakarta (1998–2001).
Affiliate Relationships
He does not have any affiliations with other members of the BOC Committees, BOC
and BOD members, as well as major and controlling shareholders; either directly or
indirectly.
Education
He obtained his Master’s degree in Finance from Pelita Harapan University, Tangerang,
in 2003, Bachelor of Economics in Accounting from Tarumanagara University, Jakarta, in
1996, Risk Management Certification Level 3 from Badan Sertifikasi Manajemen Risiko
(BSMR) in Indonesia and International Certificate in Banking and Regulation from
Global Association of Risk Professionals (GARP) in 2011, Risk Management Certification
for Insurance Company Level 5 from Asosiasi Ahli Manajemen Asuransi Indonesia
(AAMAI) in 2015, Certified in Enterprise Risk Governance (CERG) from Enterprise
Risk Management Academy (ERMA), Singapore, in 2017, Certified in Qualified Risk
Governance Professional (QRGP) from LSP MKS in 2021, and “Digital Transformation:
Platform Strategies for Success” Certification from EMERITUS in collaboration with MIT
Sloan School of Management held online in 2021.
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Nomination and Remuneration Committee
His position as Chairman of the Nomination and Remuneration Committee was
pursuant to the BOC Decree No. BOC/SK/IV/2015-0081 dated 13 April 2015, was
reaffirmed by the BOC Decree No. BOC/SK/VI/2016-05 dated 21 June 2016 (2016–2021),
and subsequently reappointed by the BOC Decree No. BOC/IV/2021-0049 dated 1 April
2021 for the period 2021–2026. He also serves as Independent Commissioner. His profile
is presented in the BOC Profiles section page 64.
Alfonso Napitupulu
Chairman of the
Nomination and
Remuneration Committee
Indonesian Citizen
74 years old
Jakarta, DKI Jakarta
He serves as a member of the Nomination and Remuneration Committee pursuant to
the BOC Decree No. BOC/VI/2017-0103 dated 2 June 2017 for the period up to 2021, and
was reappointed by the BOC Decree No. BOC/IV/2021-0049 dated 1 April 2021 for the
period 2021–2026. He also serves as Commissioner. His profile is presented in the BOC
Profiles section page 64.
Sunata Tjiterosampurno
Member of the
Nomination and
Remuneration Committee
Indonesian Citizen
52 years old
Jakarta, DKI Jakarta
He serves as a member of the Nomination and Remuneration Committee pursuant to
the BOC Decree No. BOC/VI/2024-0116 dated 21 June 2024 for the period 2024–2026.
Dual Positions
He has a concurrent position as the Company’s Head of Compensation, Benefits &
Rewards.
Career History
Previously, he served as Head of Payroll (2016–2019), Head of Operational Development
(2013–2015), Head of Branch Operations & Development (2011–2012), and Head of Branch
Operations (2002–2010) at BFI Finance.
Affiliate Relationships
He does not have any affiliations with other members of the BOC Committees, BOC
Luki Sri Herlambang
members, as well as major and controlling shareholders; either directly or indirectly.
Member of the
However, he has an affiliation with the BOD due to his position at the Company.
Nomination and
Remuneration Committee Education
Indonesian Citizen He earned his Bachelor of Economics degree majoring in Accounting from Universitas
47 years old Atma Jaya Yogyakarta (UAJY) in 2002.
Tangerang Regency, Banten
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SENIOR MANAGEMENT PROFILES
Head Office
The following are Head Office Senior Management officers whose structural positions are one level below the BOD:
Tan Rudy Eddywidjaja Iwan
Deputy Director of Deputy Director of
Marketing Asset Management
Indonesian Citizen Indonesian Citizen
54 years old 54 years old
Tangerang, Banten Tangerang, Banten
He has been serving as Deputy Director of Asset He has been serving as Deputy Director of Marketing
Management since 2024. Previously, he had served in since 2024. Previously, he had served in a number
a number of positions in the Company, including as of positions in the Company, including as Branch
Marketing Officer, Branch Manager, Regional Manager, Manager, Regional Manager, Head of Car Business,
Head of Network Development & Management, and Head of Consumer Business, and Head of National
Head of Branch Business Partner. Sales.
He obtained his Master of Business Administration
He obtained the Bachelor of Economics degree in (MBA) degree from Institut Pengembangan
Accounting from Universitas Tridinanti in Palembang, Manajemen Indonesia (IPMI), Jakarta, in 2021, and his
South Sumatra, in 1994. Bachelor of Economics degree in Accounting from
Universitas Putra Bangsa, Surabaya, in 1996.
Name Ari Binoto Lumbantobing Arwin Baskoro Fadin Wafdana
Head of Digital & Business New Business & Partnership
Position Head of Asset Management
Incubation Tribe Lead
Since 2022 2024 2024
Name Tonny Widjaja Ute Gerdanovita
Position Head of Finance & Treasury Head of Human Capital
Since 1996 2024
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Regional Office
The following are General Managers who are part of the Senior Management:
Name Augusnen Silalahi Hernandi Kusno I Kadek Tirtayasa
General Manager General Manager
General Manager
Position covering East and North covering Bali and
covering West Java Province
Kalimantan Provinces Nusa Tenggara Provinces
Since 2021 2022 2022
Name Medy Mirdianata Nuzul Ittaqa Rachmadi
General Manager General Manager
General Manager
covering Gorontalo, West, covering Central Java and
Position covering West, Central, and
Central, South, and Yogyakarta Special Region
South Kalimantan Provinces
Southeast Sulawesi Provinces Provinces
Since 2022 2022 2021
Name Sastero Wijaya Gunawan Sudihartono Susinto Tenggono Then
General Manager
General Manager General Manager
Position covering North Sulawesi, Maluku,
covering Sumatra region covering Greater Jakarta
and Papua Provinces
Since 2021 2021 2020
Name Tan Eng Han
General Manager
Position
covering East Java Province
Since 2020
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Highlights and Analysis
CORPORATE STRUCTURE
BFI Finance’s corporate structure as at 31 December 2024 was as follows:
Indonesia
inance Tbk
B FI F *
PT
SC
A
5.81% (
ea
Co
O elo
ch
4
th w
&
b
al
er
pit
s 5%)
%
6.0
Ca
15
a ha
4%
48.
Trinugr
99.00% 1.00%
Others
* Result of the Company’s stock buyback program in line with the EGMS resolution on 15 April 2015 and the
remaining treasury stock after the MESOP implementation based on the EGMS resolution on 29 June 2022
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SUBSIDIARIES AND ASSOCIATED ENTITIES
Subsidiaries FIT employs the latest and most secure digital
technologies, and continues to strengthen its
Up to the end of 2024, BFI Finance had one subsidiary: infrastructure with a rich array of features. It ensures
PT Finansial Integrasi Teknologi (FIT). that users of the platform can enjoy a seamless
experience from the moment they apply for funding, all
the way to the underwriting process and relationship
PT Finansial Integrasi Teknologi (FIT)
management. Currently, customers can independently
The Company in a Nutshell perform various processes on Pinjam Modal mobile
application and web dashboard, starting from
PT Finansial Integrasi Teknologi (FIT) is a financial
onboarding, submitting application, to obtaining
technology arm of the Company that engages in peer-
funding.
to-peer (P2P) lending through its proprietary platform,
Pinjam Modal. FIT is majority-owned by the Company, With its business processes enabled by an advanced
with a 99.00% stake. and comprehensive technology stack from end to end,
FIT runs a lean and streamlined operation, allowing its
FIT was established in 2017 amid the trend of increasing
services to be optimizable and customizable to each
demand for easy-to-access, technology-driven financial
customer. Customer data and privacy are maintained
products in the Indonesian market. In July 2018, FIT
in FIT’s ISO 27001:2022-certified information security
was registered as a financial technology P2P lending
management system. Furthermore, FIT ensures its
company on OJK. It subsequently began operating in
business governance and manages its financial and
September 2018. In May 2020, FIT obtained a license
operational risks within the acceptable range by
from OJK, making BFI Finance the first multifinance
employing superior big data analytics and machine
company who owned a fintech company.
learning capabilities.
FIT’s services are accessible by the Indonesian society
Through partnerships with prominent names and
through its application available on Google Play Store
nascent players in the ecosystem, FIT is reaching out
and Apple App Store, as well as pinjammodal.id website.
to an increasingly large market across channels, from
Its primary target market are budding entrepreneurs
B2C to B2B and B2B2C segments. FIT has enabled them
and SMEs that require financing for their business or
to connect to its ecosystem in a fast and hassle-free
productive purposes, as well as technology platform in
manner. This is how FIT is supporting the Indonesian
supply chain that need support for their working capital
Government’s vision of an equitable and just society
financing. Services on offer include Inventory Financing,
through digitally-empowered financial inclusion.
Merchant Financing, Working Capital Financing, and
Employee Loan. All products offer flexible tenure and
competitive interest rates.
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Strategy and Performance in 2024 Improvements to the Pinjam Modal platform will focus
on developing features and system capabilities by
Throughout 2024, FIT’s P2P lending business focused
utilizing artificial intelligence (AI) to enhance customer
on providing funding to small and medium-sized
convenience and organizational efficiency. This will
retailers, as well as businesses engaged in the fast-
involve the development of features and system
moving consumer goods sector. The emphasis of
capabilities in the existing technology, including
business development was on expansion of network
improving security, adding features, and updating the
and reinforcement of business supporting technologies,
design or interface of applications and dashboards for
especially to support FIT’s strategy to cultivate business
employees (internal purposes), business partners, and
along the supply chain industrial segment.
other users; as well as the development and upgrades
FIT’s collaboration with a wide range of players in of the Loan Management System to simplify and
the Indonesian financial services ecosystem in 2023 accelerate the process of business product development
included its partnerships with several strategic business and integration with business partners. Developments
partners and a number of tech companies. The aim is in the latest technology will encompass Partner Open
to strengthen FIT’s overall system, spanning from cyber API, Credit Engine and MRAC Automation, Additional
security to credit scoring capability. Collateral Engine, and piloting the implementation of
SLIK. FIT was selected by OJK as one of the first batch of
Bolstered by intensive marketing efforts and financing P2P companies to implement SLIK.
products that effectively serve the needs of its targeted
market segments, FIT’s user base in 2024 reached Success in implementing the above business plan will
more than 9 lenders (of whom 7 were active) and 3,921 support FIT’s goal of disbursing a minimum of Rp1.9
borrowers (of whom 2,869 active) as at the end of the trillion in financing to its users, with the financing
year. FIT’s customers enjoy the loan facility ceiling receivables balance of Rp422 billion at the end of 2025,
conveniently and in real time. thus extending its reach in terms of market share in the
P2P lending industry in Indonesia.
By end of 2024, FIT had disbursed financing with
total amount of Rp2.0 trillion, and the total loan
outstanding amounted to more than Rp199 billion. FIT’s
Loan Repayment Rate on average reached 95.38%. In
managing its active financing, the Company continues
to mitigate its risks so that the financing quality remains
high.
Future Plans
Entering 2025, FIT plans to strengthen and expand
its network by enhancing the quality of its workforce
through the implementation of a people development
system; which includes in-class training, on-the-job
assignments, and periodic assessments, to ensure that
every employee understands and is capable of carrying
out their duties and responsibilities. The strengthening
of technological support will be achieved by providing a
user-friendly sales app to map field team tasks, monitor
them in real time, and allow them to update their work
progress from anywhere. Furthermore, the Company
will leverage partnerships with business ecosystems
to expand market networks and access to integrated
funding of high quality, develop business networks
in the multipurpose sector, collaborate with existing
business partners, and expand into markets that have
not been optimally targeted to deliver fast, reliable, and
competitive funding access.
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Corporate Data
Office Address
Foresta Business Loft 5 Unit 11
Lengkong Kulon, Pagedangan
Tangerang Regency 15331
Date of Establishment
15 September 2017
Legal Basis of Establishment
Notary Deed of Herna Gunawan, S.H., M.Kn., No. 4 dated 15 September 2017, as approved by the Minister of Law
and Human Rights of the Republic of Indonesia by the letter No. AHU-0043022.AH.01.01.Tahun 2017 dated 29
September 2017
Line of Business
Financial technology borrowing and lending services via Pinjam Modal platform
Vision
To provide easily accessible financial services to the Indonesian society to contribute to the improvement of
public welfare
Mission
1. Providing easy access to services for the public by utilizing state-of-the-art technologies
2. Providing competitive and practical financial services to be used widely by the Indonesian society
3. Growing into a sound, strong, and integrated company
Shareholders
• PT BFI Finance Indonesia Tbk : 99.00%
• Others : 1.00%
OJK Registration and License
• Letter No. S-588/NB.213/2018 dated 31 July 2018
• Letter No. No. KEP-20/D.05/2020 dated 19 May 2020
Membership in Association
Indonesia Fintech Association (AFTECH) Asosiasi Fintech Pendanaan Bersama Indonesia
Alternative Institution for Dispute Resolution in
the Financial Services Sector (LAPS SJK)
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Management Profiles
He served as Commissioner for the period 2017–2022 and
was subsequently appointed as President Commissioner
pursuant to the Shareholders’ Resolutions in Lieu of GMS
of PT FIT on 29 July 2021 as per Deed of Shareholders’
Resolutions Statement in Lieu of GMS of PT FIT No. 06
dated 5 August 2021.
He also serves as President Director of BFI Finance. His
Francis Lay Sioe Ho profile is presented in the Board of Directors Profiles page
President Commissioner 66.
76 years old
Indonesian Citizen
Jakarta, DKI Jakarta
He was appointed as Commissioner pursuant to the
Shareholders’ Resolutions in Lieu of GMS of PT FIT on 29
July 2021 as per Deed No. 06 dated 5 August 2021.
He also serves as Finance Director and Corporate Secretary
of BFI Finance. His profile is presented in the Board of
Directors Profiles page 67.
Sudjono
Commissioner
54 years old
Indonesian Citizen
Tangerang Selatan, Banten
Appointed as President Director according to the
Shareholders’ Resolutions in Lieu of GMS of PT FIT dated
29 July 2021 as per Deed No. 06 dated 5 August 2021. The
Notary Deed of Veronika Farida Riswanti, S.H., M.Kn. has
been received and recorded by the Minister of Law and
Human Rights of the Republic of Indonesia as proven in the
Decree of Acceptance of Amendment Notification to the
Company Data of PT FIT regarding changes in the Board of
Herman Handoko Directors and Commissioners No. AHU-AH.01.03-0439071
President Director dated 20 August 2021.
46 years old
Indonesian Citizen Previously, he was the Director of FIT pursuant to the
Jakarta, DKI Jakarta Notary Deed of Herna Gunawan, S.H., M.Kn. No. 4 dated 15
September 2017 that had been endorsed by the Minister
of Law and Human Rights of the Republic of Indonesia No.
AHU-0043022.AH.01.01.TAHUN 2017 dated 29 September
2017.
He had worked at BFI Finance (2003–2017) and held various
positions, among others: as Head of Operations, Marketing
Officer of Leasing & Used Car, Head of Sales, Head of Car
Product, Branch Manager of West Jakarta-Meruya, Area
Manager of DKI Jakarta, Associate Department Head of
Network & Development, Head of Branch Management
Department, Regional Manager for Jakarta, Depok and
Tangerang region, Head of Business Strategy Development
& Management, and Head of Channel.
He earned his Bachelor of Economics degree in Accounting
from Atma Jaya Catholic University, Jakarta, in 2002.
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Joined FIT in 2017 as System & Technology Manager and
Head of Technology. Then, he was appointed as Director
according to the Shareholders’ Resolutions in Lieu of GMS
of PT FIT dated 29 July 2021 as per Deed No. 06 dated 5
August 2021. The Notary Deed of Veronika Farida Riswanti,
S.H., M.Kn. has been received and recorded by the Ministry
of Law and Human Rights of the Republic of Indonesia
as proven in the Decree of Acceptance of Amendment
Ichwan Peryana Notification to the Company Data of PT FIT regarding
Director
changes in the Board of Directors and Commissioners No.
34 years old AHU-AH.01.03-0439071 dated 20 August 2021.
Indonesian Citizen
Tangerang Selatan, Banten Previously, he had also joined BFI Finance and held a
position of Digital Marketing Unit Head (2016–2017).
He earned his Bachelor of Communication Management
degree from Universitas Padjadjaran, Bandung, West Java,
in 2013 and completed the Executive Education FinTech &
Digital Strategy from INSEAD and Cybersecurity Leadership
from MIT Sloan School of Management in 2021.
He has received several awards, including being among the
Top 200 CIO Southeast Asia from Global CIO Forum in The
World CIO 200 Summit 2021, 2022, 2023, and 2024, CIO 100
Awards 2022, 2023, and 2024 from cio.com, CSO30 ASEAN
Awards 2022, 2023, and 2024 from csoonline.com, Tech
Innovator of the Year from World Financial Innovation Series
2023, CIO World 100 – 2024 No. 7 from Marlow Business
School (United Kingdom), as well as ETCIO Southeast Asia
Transformative CEO 2023 and 2024 from ETCIO Southeast
Asia The Economic Times (India).
Joined FIT in 2022 as Head of Network & Collection. He
subsequently was appointed as Director according to the
Shareholders’ Resolutions in Lieu of GMS of PT FIT as per
Deed No. 09 dated 7 November 2024. The Notary Deed of
Geraldine H.S.S.U. Sianturi, S.H.,M.Kn. has been received
and recorded by the Ministry of Law and Human Rights
of the Republic of Indonesia as proven in the Decree of
Acceptance of Amendment Notification to the Company
Muhamad Fauzi Purnama
Director Data of PT FIT regarding changes in the Board of Directors
and Commissioners No. AHU-AH.01.09-0274498 dated 11
37 years old
November 2024.
Indonesian Citizen
Tangerang Selatan, Banten Previously, he had joined BFI Finance (2010–2021) and
held various positions, among others, Head of Motorcycle
Product, Palangkaraya Branch Manager, Sukabumi
Branch Manager, Bekasi 2 Branch Manager, Digital Branch
Manager, Tangerang Branch Manager, Bogor Branch
Manager, and South Sulawesi Area Manager.
He graduated with a Bachelor of Development Economics
degree from Semarang State University, Central Java, in
2009.
Associated Entities
Up to the end of 2024, BFI Finance did not have any associated entities.
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 81
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04
MANAGEMENT
DISCUSSION AND
ANALYSIS
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Highlights and Analysis
INDUSTRY OVERVIEW
Global Economic Developments Driving much of this global growth was the United States
(US), whose economy has been in recovery mode since the
The global economy in 2024 was a reflection of efforts to pandemic, surpassing other G7 countries for the past four
adapt to previous inflation crises and ongoing geopolitical years. The country’s GDP grew by 2.8% in 2024, reaffirming
challenges. Intensive and concerted efforts taken by central its superiority in the global economy while China’s influence
banks worldwide to combat high inflation throughout 2023 as the second-largest economy dwindled due to sluggish
showed positive results in keeping prices in check for much domestic consumption. Growth was flatter across the
of 2024, despite lingering inflationary pressures in some emerging and low-income economies. In contrast, the
regions. Global growth, however, remained unbalanced Eurozone and several advanced economies posted higher
and, as a result of a confluence of political events, regional growth rates than in the year prior, widening the global
conflicts, and extreme weather, slowed down to 3.2% disparity in economic strengths.
according to the IMF’s projection. The upbeat trajectory of the US came full circle in late 2024,
with the conclusive shift of power
following the US election results. By
that time, inflation in the country
had been kept in check by the Fed’s
multiple slashing of its Fed Funds Rate.
Exuberance surrounding the results
of the election, even when the long-
term projection remains unpredictable
given the looming tariff threats, caused
prices to across all asset classes in the
US to soar. The S&P 500 index grew
by nearly 25% within the year, carried
once again by Big Tech heavyweights,
in continuation of 2023’s story. The US
dollar also saw its biggest rally in nearly
a decade.
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Governance Statements
Indonesia’s Economic Journey Multifinance Industry Landscape in Indonesia
Despite the rupiah bearing the brunt of a strong US dollar The multifinance industry faced challenges on multiple
performance throughout 2024, Indonesia’s economy fronts in 2024, ranging from higher borrowing costs,
continued to exhibit resilience on the back of prudent reduced demand for financing, as well as higher financing
monetary policy, focus on downstreaming in commodities, risks. Low financial literacy levels in society, especially
and consistent initiatives in digitalization. Indonesia grew by among low and middle income groups, coupled with
5.03% in 2024, slightly lower than in 2023, with businesses greater financial pressures had contributed to the
and investors taking a more cautious stance in the first half proliferation of online entities offering unsecured loans
in light of the general elections. at exorbitant rates, often without license from OJK.
A smooth transition of leadership instilled some confidence Additionally, many also fell victim to online betting, which
in the market. In the first few months since taking office, remains illegal in the country.
the new administration had shown commitment to The combination of both has been destabilizing the
maintaining the strategic policies of its predecessor’s, economy, and in the multifinance industry in particular,
while setting a more ambitious target of 8% GDP growth this has caused a decline in financing volume and also
for 2028–2029. This would necessitate a significant fiscal a deterioration of credit risk, prompting multifinance
stimulus to reconfigure the country’s growth engines. companies to apply more stringent risk mitigation
Bank Indonesia preserved its key role in guiding the measures to preserve asset quality. On top of those
country’s economic growth with its tweaks to the policy challenges, dropping car sales in 2024 exacerbated the
interest rate, the BI7DRR, which stayed at 6.00% at the industry’s performance, given that more than three
end of 2024, returning to the same level one year before. quarters of the industry’s financing receivables were in
The central bank’s preemptive measures in the face of the automotive financing.
Fed’s actions helped lessen the pressure on the rupiah, and At the close of 2024, total financing receivables in Indonesia
simultaneously brought inflation down. stood at Rp503.4 trillion, a 6.92% growth from 2023’s figures,
Indonesia’s annual inflation dropped from 2.61% in 2023 considerably less than the double digit figures recorded in
to 1.57% in 2024, the lowest ever on record, with five the years prior. Taking the largest share was multipurpose
consecutive months of deflation recorded in mid-year. financing, at Rp253.9 trillion or 50.4% of the total, followed
This indicated a constrained domestic spending capacity by investment financing, working capital financing, sharia
amid rising taxes, reduced energy subsidies, and limited financing, and others, respectively at 33.9%, 9.9%, 5.5%,
wage growth, even as employment rates remained robust and 0.3%. Accompanying this growth was the rise in Non-
and gradually increasing. In the protracted high interest Performing Financing (NPF), from 2.44% at the end of 2023
rate climate, consumers became less inclined to finance to 2.70% in 2024.
big-ticket purchases. Reflecting this was the number of Higher borrowing costs, as well as increasing customer
cars sold wholesale that declined for two straight years, acquisition costs due to tighter competition, directly
according to GAIKINDO. Sales of heavy equipment and affected the industry’s operating expenses to operating
machinery also fell by double digits, due to a government income ratio (BOPO), which increased from 76.89% to
policy enacted to curb imports. 79.36% within the same period. Furthermore, profitability
ratios of ROA and ROE closed the year at 5.02% and 13.78%,
respectively, below their 2023 figures.
Going forward, the multifinance industry may have to
grapple with greater challenges, one of which stemming
from the value-added tax (VAT) rate hike to 12% which will
come into effect in 2025. The industry is also anticipating
the repercussions from rising tension in global trade and
further weakening of purchasing power. On the other hand,
electric vehicles (EV) financing will remain a promising
engine of growth, having expanded by triple digits in 2024.
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BUSINESS REVIEW
“ BFI Finance’s financing services are fully supervised and regulated by
OJK Regulations with financing products including asset-backed products,
covering cars, motorcycles, heavy equipment, machinery, and property.
These products serve customer needs for capital for investment,
working capital and multipurpose purposes, and are available in conventional
and sharia-based schemes. Through these products, BFI Finance’s
contribution improves the standard of living of its customers, including
individuals, MSMEs, and large-scale companies. The Company’s contribution
has an impact on many industrial sectors in Indonesia.
“
The year 2024 posed significant challenges for BFI Finance, However, BFI Finance remains focused on sustainable
particularly in reconstructing and reinforcing its operational growth by continuously adapting new operational models
systems following the malware disruption in 2023. Amid and ever-refined work methods to deliver services that align
social dynamics stemming from the general election, the with the ever-evolving needs of consumers. This proactive
Company remained focused on growth with a measured approach supports long-term business expansion and
strategy, despite facing pressures such as a decline in the gradually enhances the Company’s performance through
automotive and heavy equipment markets, in line with the various comprehensive work transformations. This strategy
economic slowdown, subsequently leading to heightened demonstrates BFI Finance’s commitment to aligning with
risk of default in certain sectors. Intense competition, long-term objectives while adapting changes in market
especially in the car financing segment, pushed BFI trends.
Finance to continuously refine its acquisition strategies and Subsequent discussions on BFI Finance’s business
enhance staff capabilities to deliver the best services performance will cover the disbursement of New Financing
to customers across various regions. in 2024 and its comparison with 2023 performance, as well
Entering the second half of 2024, BFI Finance accelerated as an analysis of the Financing Receivables Portfolio for
financing disbursement in all segments, and higher growth each type of financing. The discussion on the Company’s
donated by segments such as Property-Backed Financing financing will be conducted based on asset type and
(PBF) 62.0% and Heavy Equipment Financing 12.0%. funding source.
The Company also expanded its acquisition channels
through strategic collaborations with entities within the
digital ecosystem. Such initiatives aim to offer financing
products with varying acquisition methods and risk
approaches by utilizing third-party data, allowing it to reach
out to tap into potentials in the new customer segments.
They are also aligned with market demand that will drive
the Company’s sustainable business growth.
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New Financing
Table 14 | New Financing by Asset Type
Comparison with Last Year
Description (Rp billion) 2023 2024
Total Percentage
Used Cars Financing 12,528 13,191 663 5.3%
New Cars Financing 590 400 (190) -32.2%
Cars Financing 13,118 13,591 473 3.6%
Heavy Equipment Financing 2,634 2,949 315 12.0%
Motorcycles Financing 2,410 2,238 (172) -7.1%
Property Financing 510 826 316 62.0%
Sharia Financing 409 450 41 10.0%
Total 19,081 20,054 658 5.1%
Percentage of Total
Used Cars Financing 65.7% 65.8% n/a 0.1%
New Cars Financing 3.1% 2.0% n/a -1.1%
Cars Financing 68.8% 67.8% n/a -1.0%
Heavy Equipment Financing 13.8% 14.7% n/a 0.9%
Motorcycles Financing 12.6% 11.2% n/a -1.4%
Property Financing 2.7% 4.1% n/a 1.4%
Sharia Financing 2.1% 2.2% n/a 0.1%
Total 100.0% 100.0%
Description (unit)
Used Cars Financing 119,247 116,907 (2,340) -2.0%
New Cars Financing 2,009 1,470 (539) -26.8%
Cars Financing 121,256 118,377 (2,879) -2.4%
Heavy Equipment Financing 3,484 3,927 443 12.7%
Motorcycles Financing 260,168 240,228 (19,940) -7.7%
Property Financing 1,077 1,285 208 19.3%
Sharia Financing 3,151 3,425 274 8.7%
Total 389,136 367,242 (21,894) -5.6%
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Cars Financing
118,377 units
Motorcycles Financing Heavy Equipment
240,228 units Financing
3,927 units
Sharia Financing Property Financing
3,425 units 1,285 units
New Financing disbursed by BFI Finance in 2024 reached Rp20,054 billion, reflecting a 5.1% increase from Rp19,081 billion
in 2023.
Cars Financing continued to dominate the Company’s New Financing portfolio, accounting for 67.8% of the total, with
Used Cars Financing comprising 65.8% and New Cars Financing at 2.0%. The remaining 32.2% was distributed among
Heavy Equipment Financing (14.7%), Motorcycles Financing (11.2%), Property Financing (4.1%), and Sharia Financing (2.2%).
Property Financing recorded the highest growth at 62.0%, rising from Rp510 billion in 2023 to Rp826 billion in 2024.
This was followed by Heavy Equipment Financing, which grew by 12.0%, from Rp2,634 billion to Rp2,949 billion.
Meanwhile, Car Financing increased by only 3.6%, primarily due to New Car Financing—which had recorded growth in the
previous year—declining by 32.2% in 2024, from Rp590 billion to Rp400 billion.
The performance of each financing product is explained in the following tables.
Cars Financing
Table 15 | New Financing of Cars (New and Used) by Source of Origination
Comparison with Last Year
Description (Rp billion) 2023 2024
Total Percentage
Non-Dealer Financing 10,953 11,029 76 0.7%
Dealer Financing
Used Cars Financing 1,575 2,162 587 37.3%
New Cars Financing 590 400 (190) -32.2%
Total 13,118 13,591 473 3.6%
Description (unit)
Non-Dealer Financing 108,797 103,658 (5,139) -4.7%
Dealer Financing
Used Cars Financing 10,450 13,249 2,799 26.8%
New Cars Financing 2,009 1,470 (539) -26.8%
Total 121,256 118,377 (2,879) -2.4%
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New Financing of Cars increased by 3.6% to Rp13,591 billion in 2024, driven by the growth of Used Cars Financing through
Dealer Financing (DF), which rose by 37.3% or Rp587 billion. This increase offset the decline in New Cars Financing by Rp190
billion, with DF growing by Rp397 billion and Non-Dealer Financing (NDF) increasing by Rp76 billion to Rp11,029 billion.
As at the end of 2024, NDF remained the largest component in the New Cars Financing segment, accounting for 81.1%
of the total financing value. The number of car units used as collateral for financing by the Company through the NDF
scheme reached 103,658 units, while 14,719 units were secured through DF.
Graph 4 | Composition of Car Category (New and Used) in New Financing (Rp billion)
2023 2024
Passenger Car Passenger Car
21.7% 21.1%
10,267 10,720
78.3% 78.9%
Commercial Car Commercial Car
Passenger Car
2,851 2,871 Passenger Car
Commercial Car Commercial Car
13,118 TOTAL 13,591
Table 16 | New Financing of Cars (New and Used) by Car Type
Comparison with Last Year
Description (Rp billion) 2023 2024
Total Percentage
Minibus/MPV 8,144 8,460 316 3.9%
Jeep 1,549 1,713 164 10.6%
Truck 1,423 1,574 151 10.6%
Pick-up 1,302 1,160 (142) -10.9%
Sedan 582 553 (29) -5.0%
Bus 118 131 13 11.0%
Total 13,118 13,591 473 3.6%
Percentage of Total
Minibus/MPV 62.1% 62.2% n/a 0.1%
Jeep 11.8% 12.6% n/a 0.8%
Truck 10.8% 11.6% n/a 0.8%
Pick-up 9.9% 8.5% n/a -1.4%
Sedan 4.5% 4.1% n/a -0.4%
Bus 0.9% 1.0% n/a 0.1%
Total 100.0% 100.0%
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Table 17 | New Financing of Cars (New and Used) by Brand
Comparison with Last Year
Description (Rp billion) 2023 2024
Total Percentage
Toyota 4,556 4,733 177 3.9%
Mitsubishi 2,035 2,205 170 8.4%
Daihatsu 1,812 1,879 67 3.7%
Honda 1,855 1,859 4 0.2%
Suzuki 1,197 1,043 (154) -12.9%
Isuzu 192 242 50 26.0%
Other Japanese Brand 1,002 1,029 27 2.7%
Non-Japanese Brand 469 601 132 28.1%
Total 13,118 13,591 473 3.6%
Percentage of Total
Toyota 34.7% 34.8% n/a 0.1%
Mitsubishi 15.5% 16.2% n/a 0.7%
Daihatsu 13.8% 13.8% n/a 0.0%
Honda 14.2% 13.7% n/a -0.5%
Suzuki 9.1% 7.7% n/a -1.4%
Isuzu 1.5% 1.8% n/a 0.3%
Other Japanese Brand 7.6% 7.6% n/a 0.0%
Non-Japanese Brand 3.6% 4.4% n/a 0.8%
Total 100.0% 100.0%
By category, New Cars Financing in 2024 consisted of Passenger Cars, amounting to Rp10,720 billion (78.9%), and
Commercial Cars, at Rp2,871 billion (21.1%). The majority of financed Passenger Cars were in the Minibus/MPV category
(62.2%), while Trucks dominated the Commercial Car segment (11.6%). By brand, Toyota remained the market leader with a
34.8% share, maintaining stability compared to 2023.
Motorcycles Financing
Graph 5 | Composition of Motorcycle Brand (New and Used) in New Financing (Rp billion)
2023 2024
1.9% Honda Honda
2.0% 1.3% 2.1%
1,592 1,517
Yamaha Yamaha
30.1%
725 644 28.8%
66.0% Suzuki Suzuki 67.8%
45 29
Others Others
Honda Suzuki 48 48 Honda Suzuki
Yamaha Others Yamaha Otehrs
2,410 TOTAL 2,238
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The Motorcycles Financing business remains entirely dominated by Used Motorcycles Financing, with units serving as
collateral. This product is a preferred option, particularly for the lower-middle-income segment.
Motorcycles Financing performance in 2024 declined by 7.1%, amounting to Rp2,238 billion compared to Rp2,410 billion in
2023. This decline was due to the Company’s operational scale adjustments in this segment, particularly to strengthen the
system following the cyber incident in mid-2023.
By brand, Honda motorcycles continued to dominate, accounting for 67.8% of total Motorcycles Financing in 2024, while
the remainder was held by Yamaha (28.8%), Suzuki (1.3%), and Other Brands (2.1%).
Financing of Heavy Equipment, Machinery, and Other Equipment
Table 18 | New Financing of Heavy Equipment, Machinery, and Other Equipment by Industry
Comparison with Last Year
Description (Rp billion) 2023 2024
Total Percentage
Mining 927 874 (53) -5.7%
Construction 589 609 20 3.4%
Industrial and Manufacturing 346 414 68 19.7%
Forestry 221 349 128 57.9%
Plantation 236 349 113 47.9%
Services 152 174 22 14.5%
Trade and Distribution 74 82 8 10.8%
Others 89 98 9 10.1%
Total 2,634 2,949 315 12.0%
Percentage of Total
Mining 35.2% 29.6% n/a -5.6%
Construction 22.4% 20.7% n/a -1.7%
Industrial and Manufacturing 13.1% 14.1% n/a 1.0%
Forestry 8.4% 11.8% n/a 3.4%
Plantation 8.9% 11.8% n/a 2.9%
Services 5.8% 5.9% n/a 0.1%
Trade and Distribution 2.8% 2.8% n/a 0.0%
Others 3.4% 3.3% n/a -0.1%
Total 100.0% 100.0%
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Graph 6 | Composition of Heavy Equipment, Machinery, and Other Equipment Types in New Financing (Rp billion)
2023 2024
1.6% 1.3%
2.6% 1.7%
6.1% 6.6%
Excavator 1,115 1,089 Excavator
8.3% Truck 604 520 Truck
9.7%
Buldozer 195 161 Buldozer
19.7% Wheel Loader 47 69 Wheel Loader 20.5%
19.5% Forklift 39 44 Forklift 22.0%
Other Heavy 285 218 Other Heavy
Equipment Equipment
41.3%
Machinery 650 513 Machinery 37.8%
Others 14 20 Others
0.8% 0.5%
2,949 TOTAL 2,634
BFI Finance supports the operations of business players across various industrial sectors through its Heavy Equipment,
Machinery, and Other Equipment Financing products.
The key sectors receiving financing from the Company in 2024, similar to 2023, were Mining, Construction, and Industrial
& Manufacturing. The contribution of these three sectors to the total Heavy Equipment, Machinery, and Other Equipment
Financing in 2024 was 29.6%, 20.7%, and 14.1%, respectively.
The highest proportional growth came from the Forestry and Plantation sectors, in line with the expansion of both sectors
in Indonesia throughout 2024. Disbursements to the Forestry sector grew by 57.9%, while those to the Plantation sector
increased by 47.9%. The Industrial & Manufacturing sector followed with a growth of 19.7%. On the other hand, the Mining
sector, which dominated New Heavy Equipment, Machinery, and Other Equipment Financing, declined by Rp53 billion or
5.7% from the previous year.
Driven by growth in these sectors, the overall value of Heavy Equipment, Machinery, and Other Equipment Financing
increased by 12.0%, reaching Rp2,949 billion in 2024, compared to Rp2,634 billion in 2023.
Based on equipment type, New Financing in 2024 was primarily allocated to Excavators, with total financing disbursed
amounting to Rp1,115 billion, or 37.8% of the total financing in this segment. The subsequent categories, in order, were Truck
with a share of 20.5%, Bulldozer at 6.6%, Wheel Loader at 1.6%, and finally, Forklift and Other Heavy Equipment at 11.0%.
Property-Backed Financing
Graph 7 | Composition of Property Types in New Financing (Rp billion)
2023 2024
7.1% 7.0%
House House
474 768
House Shophouse Shophouse House
Shophouse
92.9% 36 58 93.0%
Shophouse
510 TOTAL 826
The Company disbursed Property-Backed Financing for products with Houses and Shophouses as collateral. In 2024, the
financing value surged by 62.0%, from Rp510 billion in 2023 to Rp826 billion. It remains relatively small compared to the
Company’s overall business portfolio. This growth was primarily driven by financing backed by Houses, which increased by
62.0%, while financing backed by Shophouses grew by 61.1%.
Sharia Financing
In 2024, Sharia Financing increased by 10.0% from Rp409 billion in 2023 to Rp450 billion. This segment contributed 2.2% to
the Company’s total New Financing, consistent with its 2.1% share in 2023.
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TRANSFORMATION
In running its business vis-à-vis shifting consumer Spearheading this transformation are the Company’s
behaviors and market trends shaped by digitalization, IT teams, guided by the insights from all business units
BFI Finance recognizes the imperative to rejuvenate and the guardrails established by the Risk Management
itself comprehensively to refine its competitive edge and team. As a foundational aspect of this transformation,
venture into new frontiers. This means transforming the the Company has been revamping and upgrading legacy
Company’s organizational mindset, operating model and systems, adopted scalable cloud technologies, and
the supporting infrastructure, as well as ways of working. implemented automation and advanced data analytics.
For the past few years BFI Finance has been embarking The resulting operating model has enabled BFI Finance to
on a transformation journey to adapt to this evolving create more personalized offerings, assess credit risk more
financial landscape. This initiative was driven by the need strategically, as well as tackle fraud more proactively.
to improve operational efficiency and at the same time Integrating technology into operational goals, the
enhance customer experiences. This transformation goes Company’s core business units, from origination to
beyond changing old technologies with new ones. Rather, collection, had begun to undergo a transition from more
it is a holistic, organization-wide endeavor that calls for traditional, brick-and-mortar operations to digital-native
collaboration across departments, in particular between the functions. Employees were trained to develop pertinent skill
functions of risk management, information technology, and sets and be more aware about the opportunities, risks, and
core business units. security protocols associated with digital transformation.
New systems and platforms were developed to
allow customers to benefit from online interfaces
and tailored marketing. Regular cross-functional
meetings were held to ensure alignment between
the many digitalization initiatives with the main
business strategy.
By taking an agile approach cultivated as part of its
corporate culture, BFI Finance has been able to refine
its strategy iteratively based on market dynamics,
customer feedback, and availability of emerging
technologies. The Company continued to explore
partnerships and tap into external ecosystems of
these partners, thereby broadening its service reach
and driving uptake of certain financing products. A
prominent example from 2024 was the collaboration
with a ride-hailing business whose driver partners
were acquired as BFI Finance’s Motorcycles
Financing customers.
Up to the end of 2024, the most salient impacts
of transformation included more streamlined
operations, an empowered workforce, and reduced
errors that enhanced decision making. These
advancements collectively led to better customer
experiences across all contact points, future-proofing
BFI Finance against potential disruptions on its
journey.
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Highlights and Analysis
OPERATIONS
BFI Finance’s business development relies on its Integrating advanced analytics into core systems also
operational backbone, which allows processes to take place boosted decision making, strengthening the Company’s
seamlessly across all service platforms, meeting customers’ capabilities across the spectrum, from customer acquisition
service level expectation while ensuring regulatory to collection.
compliance. Along with performing routine maintenance Digitalization has paved the way for greater transparency
and rejuvenation of its operational infrastructure and across all stages of customer interaction. By accessing
systems, BFI Finance also identifies emerging areas for the Company’s website and digital platforms, financing
development in line with its goals, fosters robust business applicants and existing customers can monitor their
relationships and form new collaborations, and ensures application or repayment status without needing to inquire
that all operational initiatives are performed with optimal directly at the branches.
utilization of resources, including personnel.
With digitalization taking center stage within the Collection capabilities also continued to be enhanced.
Company’s transformation campaign, the running of a The automatic classification of customers based on their
new core system throughout 2024 had enhanced all of its risk level, running at all outlets since 2023, helped the
customer contact points, from frontliners at the physical Company determine the most effective means to collect
branches to the personalized responses customers received from different customer categories, whether through
from digital platforms. Powered by machine learning and telecollection, digital platform messaging, or physical visit.
automation, the Company has been able to augment its In 2024, the Company began to adopt a more proactive
operational capabilities in serving customers without losing approach, including equipping the collection team with
its “human touch”, an intangible asset that remains at the powerful tools and movement tracking capabilities.
foundation of its value proposition. The Company also leveraged legal avenues to address
Some of the most advantageous impacts of digitalization persistent delinquencies. This new collection strategy had
have been seen over the past years in BFI Finance’s key shown some initial success with recovery rate increasing by
financing offering, NDF. Assisted by digital technology, the end of 2024.
the Company has been able to significantly streamline
its business flow, improving efficiency and pushing cost
down by shifting from manual to automated processes.
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While BFI Finance continued to broaden its digital presence and intensify its social media engagements, it also improved
customer convenience at physical outlets. In 2024 the Company initiated an new, appointment-based queue system
at several branches. This system allows customers to make an appointment with frontliners at the time they prefer.
Ensuring a steady flow of customers is expected to reduce crowd size at the outlets and also each customer’s waiting time
significantly.
Crowd management at the branches is also key to expanding BFI Finance’s ongoing digital partnerships. Customers
acquired through these schemes have now been enabled to visit any BFI Finance outlet to obtain information on the
Company’s services, including other financing products, annual motor vehicle tax renewal, and installment payments. To
ensure their smooth handling, in 2024 the Company continued to strengthen frontliner capability in providing solution–
oriented services as well as interbranch connectivity.
With digitalization advancing BFI Finance’s entire chain of operations, and considering the efficiency gains from such
measures, the Company further streamlined its physical network in 2024, bringing its total outlets to 267, comprising
191 conventional branches, 45 sharia representative branches sharing premises with conventional branches, and 31
kiosks, by year-end. This strategic refinement resulted in an additional increase in outlet productivity while preserving
comprehensive business coverage, and ensured consistent, high-quality service for customers.
I have been working at BFI Finance for almost seven years. In 2016, I
joined the Management Trainee Program and then served as an Officer.
The work environment here is highly conducive, well-organized, and
supportive of career growth, through training sessions and seminars
featuring experts in their fields. The most important core value of the
Company for me is Absolute Integrity, how to build trust with colleagues,
customers, and business partners. This principle has also led me to my
current position. In addition, my team and I had led the Banjarmasin
branch to win the Best Corporate Branch 2024 award, and that was a
truly memorable achievement for me. In the future, I hope BFI Finance
can offer increasingly attractive incentives and bonus schemes to drive
employee productivity.
Farizal Arif
HETO Manager
Banjarmasin Branch
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Highlights and Analysis
CUSTOMER SERVICE
BFI Finance has long been known in Indonesia’s Graph 8 | Customer Satisfaction Index (CSI) Score
multifinance industry for its workforce, which places top
priority on building strong relationships with the customers.
In 2024 it continued to preserve this reputation. With a 1.60 2.40
customer base in the hundreds of thousands spanning the
whole of Indonesia, BFI Finance always strives to deepen
engagement with customers in its quest to understand their
various characteristics. With such insights, the Company
can devise effective and innovative ways to meet evolving
customer needs, and simultaneously uphold the level of
0.80 3.20
service provided to them at all contact points.
Digital initiatives carried out throughout 2024 to boost the 3.25
Company’s Service Excellence Strategy framework had
empowered its employees to deliver service with passion
and delight in their day-to-day interaction with customers.
In turn, customer satisfaction was maintained at very
high levels during the year. Monthly scores of Customer 0.00 4.00
Satisfaction Index (CSI), obtained through routine online
surveys, averaged 3.25 out of a maximum 4 in 2024. Customer Satisfaction Index (CSI) 2024
BFI Finance’s digital platforms, including the recently launched mobile application, allowed customers to stay abreast with
the progress of their financing application, as well as keep track of their installment schedules, at all times. Additionally,
service standards continued to be refined and standardized across all branches, while still accommodating the unique
characteristics and needs of each customer segment and region.
In 2024, the Company ramped up its engagement in the digital space, chiefly via WhatsApp for Business and Google
Reviews, to listen to customers’ voices more comprehensively, and take prompt action when necessary. The Company
made sure to acknowledge all reviews from customers on digital platforms, give appreciation to their insights and
suggestions, and address the issues they brought up there.
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A regulatory shift that took place in 2024 required multifinance companies to give a faster response to customer
grievances, from previously within 20 working days (for written complaints) down to 10. In light of this, the Company
redoubled its efforts by tapping into the automation features of its systems, thus ensuring that every complaint was
resolved within the new timeframe as set by the OJK.
The Company provides multiple channels for customers to air their grievances, ranging from physical visit to Virtual
Customer Service and various social media channels. In total, 5,659 complaints were registered in 2024, all of which were
resolved by year-end. The number of complaints were positively down by 30% compared to 2023’s figure, demonstrating
the Company’s robust service recovery following the mid-2023 cyber incident. The level of service delivered to customers
throughout 2024 was reflected in the average Net Promoter Score (NPS) of 43.7%.
Graph 9 | Net Promotor Score (NPS)
43.7%
40% 60%
20% 80%
0% 100%
Net Promoter Score (NPS) 2024
Besides focusing on external customers, the Company also considers its employees as internal customers. It maintains
a mechanism, called YOUR VOICE, to measure employee satisfaction in the quality of interaction with their colleagues.
Accessible via a QR code, the mechanism evaluates team and individual performance, while also providing an avenue for
employees to submit their ideas and aspirations on service. A total of 10,905 assessments were gathered in 2024, with the
average score of 3.16 out of 4, demonstrating a high level of satisfaction among employees. Additionally, 5,748 inputs on
service improvement were received through YOUR VOICE, with the top topic of concern being Responsiveness.
Table 19 | Customer Complaint Handling 2024
Status of Resolution
Financing Type Resolved Being Processed Number of Complaints
Total % Total %
Investment 94 100 0 0 94
Working Capital 1,798 100 0 0 1,798
Multipurpose 3,246 100 0 0 3,246
Non-Customer 521 100 0 0 521
Total 5,659
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About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
MARKETING
To expand the reach of its financing products and cater to The Company’s agency channel in 2024 comprised an
the widest customer base in various segments, BFI Finance average of 7,417 four-wheeled collateral financing agents
has been building its marketing strategy across four key and 10,095 two-wheeled collateral financing agents per
channels: dealer/supplier, agency, telemarketing, and month. Compared to the previous year, the number
digital. of four-wheeled collateral financing agents decreased
by 3%. Conversely, two-wheeled collateral financing
In the Dealer Financing (DF) scheme, the Company
agents increased by 9%. These differences in percentage
partnered with dealers and suppliers of new and used cars,
increases and decreases reflect the financing needs of
heavy equipment, and machinery, to market its financing
the community. The agency marketing channel remains
products using these means as collateral. The number
dominant and plays a crucial role as a prospect generator
of dealers and suppliers in partnership with BFI Finance
in the Company’s
as at the end of
overall marketing
2024 reached 2,339
strategy.
active dealers, a 30%
increase from 1,801 in Such a result
2023. signified the
agency channel’s
Given the tighter
resilience. When
competition in
dealing with the
the car dealership
cyber incident
landscape, BFI
in mid-2023, the
Finance has been
Company had
innovating new
significantly
collaboration
narrowed its
schemes with them
pipeline of new
to boost its standing.
customers,
In 2024, the Company
particularly for
initiated a pilot
Motorcycles
project involving
Financing.
renting business
However, by end of
space for dealers who
2024 the business
agreed to prioritize
had bounced
offering BFI Finance’s
back. Contribution
products to their
from agency had
customers seeking
already almost
financing. This new
matched the
scheme is subject
levels prior to the
to review in the
incident, with risk
coming years, and
levels kept under
will be more widely
strict control.
replicated across the
Company’s business While the agency
network once proven channel has
fruitful. been deployed to
The three other primarily acquire
marketing channels new customers,
have consistently telemarketing
made up a majority of the Company’s new financing. (including direct marketing) focused on customer retention.
Altogether, the agency, telemarketing, and digital channels With the reduction in the pool of new customers carried
focus on NDF, BFI Finance’s flagship product where cars from the previous year, the Company’s telemarketing team
and motorcycles are used as collateral. These channels had to work with fewer leads at the start of 2024, requiring
also promote other products in the Company’s portfolio, them to optimize communication strategies with existing
including Sharia Financing. customers to strengthen their loyalty.
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The Company equipped the team with training and in the ride-hailing, e-commerce, and telecommunications
technology to enhance their customer interaction skills, industries allowed the Company to tap into these partners’
enabling them to respond more effectively to inquiries and extensive customer base country-wide. Acting as new
cross-sell tailored products in their outreach initiatives. acquisition channels, these partnerships bolstered the
Using automated voice-to-text feature and Customer Company’s presence among the increasingly digital
Relationship Management (CRM) systems had markedly Indonesian society.
enhance telemarketing performance, while also expediting Further strengthening its digital marketing, BFI Finance
related monitoring. As a result, in 2024 the direct marketing continued to invest in advertising across social media
and telemarketing channel contributed more than 40% of platforms as well as SMS and other conventional media.
total new booking. Nearing the end of 2024 the Company also launched a
The fourth channel, digital marketing, has been receiving mobile application whose features will be vastly enhanced,
substantial attention from the Company, recognizing offering greater convenience and accessibility to customers.
its role beyond complementing the more traditional Going forward, the mobile application and expanded digital
marketing initiatives. With the ongoing transformation, partnerships with more established entities across multiple
digital marketing is slated to be the catalyst in the industries are expected to amplify customer acquisition
Company’s drive towards digital augmentation. and retention initiatives, and deliver pronounced results
sustainably.
BFI Finance has been pursuing collaboration with major
online platforms, initially within its business ecosystem
and gradually expanding outwards. In 2024, key partners
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About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
FINANCIAL PERFORMANCE REVIEW
Consolidated Statement of Financial Position
Assets
Table 20 | Total Assets
Comparison with Last Year
Description (Rp billion) 2023 % 2024 %
Total Percentage
Cash and Cash Equivalents 1,740 7.3% 1,614 6.4% (126) -7.2%
Financing Receivables - Net 20,706 86.3% 22,013 87.6% 1,307 6.3%
Ijarah and IMBT Receivables - Net 53 0.2% 83 0.3% 30 56.6%
Total Net Receivables 20,759 86.5% 22,096 87.9% 1,337 6.4%
Other Receivables - Third Parties 251 1.0% 293 1.2% 42 16.7%
Derivative Assets 57 0.2% 28 0.1% (29) -50.9%
Prepaid Expenses and Advances 34 0.1% 20 0.1% (14) -41.2%
Fixed Assets - Net 721 3.0% 673 2.7% (48) -6.7%
Right-of-Use Assets - Net 41 0.2% 43 0.2% 2 4.9%
Intangible Assets - Net 255 1.1% 199 0.8% (56) -22.0%
Deferred Tax Assets 132 0.6% 152 0.6% 20 15.2%
Other Assets 2 0.0% 2 0.0% - 0.0%
Total Assets 23,992 100.0% 25,120 100.0% 1,128 4.7%
In 2024, BFI Finance’s Total Assets increased by 4.7%, Net Receivables
or Rp1,128 billion, compared to 2023, reaching Rp25,120
Net Financing Receivables increased by 6.3% from Rp20,706
billion. This growth was driven by an increase in Net
billion at the end of 2023 to Rp22,013 billion at the end
Financing Receivables by Rp1,307 billion (6.3%) and Net
of 2024. This growth was primarily driven by Used Cars
Ijarah and IMBT Receivables by Rp30 billion (56.6%). These
Financing, Heavy Equipment Financing, and Property
two components contributed to the overall growth of
Financing.
Net Receivables, which rose by 6.4% to Rp22,096 billion,
accounting for 87.9% of Total Assets. The Company also recorded a 56.6% increase in Net Ijarah
and IMBT Receivables, rising from Rp53 billion to Rp83
However, certain components of Assets declined, such as
billion by the end of 2024. As a result, total Net Receivables
Derivative Assets by 50.9% (Rp29 billion), Prepaid Expenses
grew by 6.4% in 2024, reaching Rp22,096 billion by year-end.
and Advances by 41.2% (Rp14 billion), and Intangible
Assets by 22% (Rp56 billion). Despite this, the increase in
Other Receivables and Deferred Tax Assets, by 16.7% and
15.2% respectively, helped offset the decline in several
components of the Company’s Assets, as described above.
Details on the rise and decline of each component of Assets
will be discussed in the following sections.
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Table 21 | Managed Receivables vs. Net Receivables
Comparison with Last Year
Description (Rp billion) 2023 2024
Total Percentage
Financing Receivables 21,958 24,046 2,088 9.5%
Ijarah and IMBT Receivables 54 87 33 61.1%
Total Managed Receivables 22,012 24,133 2,121 9.6%
Less Joint Financing - booked by third parties (488) (1,219) (731) 149.8%
Total Receivables Before Allowance for Impairment Losses 21,524 22,914 1,390 6.5%
Allowance for Impairment Losses 765 818 53 6.9%
Total Receivables - Net 20,759 22,096 1,337 6.4%
The Total Managed Receivables of BFI Finance in 2024 market conditions caused by macroeconomic challenges.
increased by 9.6%, reaching Rp24,133 billion, compared to This step also reflects BFI Finance’s commitment to
Rp22,012 billion in 2023. This growth was primarily driven by prudent risk management, ensuring business sustainability,
a 9.5% increase in Financing Receivables and a 61.1% rise in and protecting the interests of shareholders and creditors
Ijarah and IMBT Receivables. in an increasingly competitive financing industry.
In line with the increase in Managed Financing Receivables, After taking this Allowance for Impairment Losses into
the Company also raised its Allowance for Impairment account, Net Receivables amounted to Rp22,096 billion,
Losses by 6.9% to Rp818 billion. This was a precautionary growing by 6.4% from 2023’s figure.
measure to anticipate potential credit risks amid dynamic
I chose to take a Sharia Financing product from BFI Finance
because of my principle of obtaining financing in accordance
with the Islamic law. So far, BFI Finance has given me no less than
excellent and satisfying service. So, should I need financing again,
I will certainly choose BFI Finance’s Sharia Financing products.
Yodi Saputro
Sharia Financing Customer
Bekasi, West Java
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About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
Table 22 | Diversification of Financing Portfolio by Asset Type
Comparison with Last Year
Description (Rp billion) 2023 2024
Total Percentage
Used Cars Financing 14,400 15,770 1,370 9.5%
New Cars Financing 810 807 (3) -0.4%
Cars Financing 15,210 16,577 1,367 9.0%
Heavy Equipment Financing 3,286 3,734 448 13.6%
Motorcycles Financing 1,681 1,675 (6) -0.4%
Property Financing 957 1,202 245 25.6%
Sharia Financing 606 747 141 23.3%
Channeling 272 198 (74) -27.2%
Total Managed Receivables 22,012 24,133 2,121 9.6%
Percentage of Total
Used Cars Financing 65.4% 65.4% n/a 0.0%
New Cars Financing 3.7% 3.3% n/a -0.4%
Cars Financing 69.1% 68.7% n/a -0.4%
Heavy Equipment Financing 14.9% 15.5% n/a 0.6%
Motorcycles Financing 7.6% 6.9% n/a -0.7%
Property Financing 4.4% 5.0% n/a 0.6%
Sharia Financing 2.8% 3.1% n/a 0.3%
Channeling 1.2% 0.8% n/a -0.4%
Total 100.0% 100.0%
The largest portion of Total Managed Receivables in 2024, Looking broadly at the overall portfolio, Cars Financing in
amounting to Rp16,577 billion or 68.7% of the total, was 2024 was still dominated by Japanese brands. Only 3.6%
from Cars Financing. The Used Cars Financing portfolio of the Company’s total Cars Financing came from brands
recorded Rp15,770 billion, growing by 9.5%, while the New originating from other countries. With a 34.6% share of total
Cars Financing segment amounted to Rp807 billion, Cars Financing, Toyota remained the primary contributor,
contributing to the overall 9.6% growth in Total Managed followed by Mitsubishi, Daihatsu, and Honda, at 16.7%, 14.3%,
Receivables in 2024. and 13.1%, respectively.
The remaining 31.3% of the total value came from Heavy
Equipment Financing (15.5%), followed by Motorcycles Total Managed Receiveables – Motorcycles
Financing (6.9%), Property-Backed Financing (5.0%), Sharia
Financing (3.1%), and Channeling Financing (0.8%). Total Managed Receivables – Motorcycles at the Company
stood at Rp1,675 billion by the end of 2024, a modest
decrease from Rp1,681 billion in 2023. This decline
Total Managed Receivables – Cars was primarily due to a downturn in Yamaha-branded
The share of Used Cars Financing and New Cars Financing motorcycles by Rp25 billion, from Rp504 billion in 2023 to
in Total Managed Receivables in 2024 was 65.4% and 3.3%, Rp479 billion in 2024.
respectively. The Company’s Cars Financing portfolio On the other hand, the contribution of Honda, which holds
includes Minibus/MPV, Jeep, Truck, Pick-up, Sedan, and Bus. the largest share in the Motorcycles Financing portfolio,
The portfolio remained dominated by the Minibus/MPV increased by 2.3%, or Rp26 billion, reaching Rp1,142 billion by
category, although its proportion increased by only 0.3% the end of 2024.
compared to 2023. The next two largest categories were
Truck at 12.6% and Jeep at 11.5%.
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Total Managed Receivables – Heavy Equipment, Machinery, The share of Heavy Equipment in Total Managed
Other Equipment Receivables declined slightly by 1.1% to 82.7%. This decrease
was mainly due to a 2.6% drop in the contribution of
Total Managed Receivables from Heavy Equipment,
excavators within the overall mix. Other Equipment also
Machinery, and Other Equipment Financing totaled
saw a decline of Rp3 billion from its 2023 level. Conversely,
Rp3,734 billion by the end of 2024, increasing by 13.6% or
Machinery recorded portfolio growth of 23.2%, with a 16.9%
Rp448 billion compared to the end of 2023.
share of Total Managed Receivables. As a result, Heavy
This growth was supported by a 25.9% increase in the Truck Equipment, Machinery, and Other Equipment Financing
portfolio category, making it the equipment type with the achieved overall growth.
most pronounced increase, at Rp162 billion. The Excavator
By industry, the highest portfolio financing growth in 2024
category also recorded an increase of Rp101 billion, or
came from the Plantation sector, increasing by Rp125 billion
6.9% above the 2023 position, contributing 41.7% to Total
and accounting for 11.3% of the total. The Forestry sector
Managed Receivables in this segment.
also saw a robust increase of Rp120 billion. Meanwhile, the
Mining sector, which grew by only 1.4% in 2024, remained
the largest contributor, with a 31.6% share.
Table 23 | Diversification of Heavy Equipment, Machinery, and Other Equipment Financing Portfolio by Type of Equipment
Comparison with Last Year
Description (Rp billion) 2023 2024
Total Percentage
Excavator 1,455 1,556 101 6.9%
Truck 625 787 162 25.9%
Bulldozer 220 252 32 14.5%
Wheel Loader 87 78 (9) -10.3%
Forklift 48 56 8 16.7%
Other Heavy Equipment 321 359 38 11.8%
Total Heavy Equipment 2,756 3,088 332 12.0%
Machinery 512 631 119 23.2%
Others 18 15 (3) -16.7%
Total 3,286 3,734 448 13.6%
Percentage of Total
Excavator 44.3% 41.7% n/a -2.6%
Truck 19.0% 21.1% n/a 2.1%
Bulldozer 6.7% 6.7% n/a 0.0%
Wheel Loader 2.6% 2.1% n/a -0.5%
Forklift 1.4% 1.5% n/a 0.1%
Other Heavy Equipment 9.8% 9.6% n/a -0.2%
Total Heavy Equipment 83.8% 82.7% n/a -1.1%
Machinery 15.6% 16.9% n/a 1.3%
Others 0.6% 0.4% n/a -0.2%
Total 100.0% 100.0%
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About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
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Table 24 | Diversification of Heavy Equipment, Machinery, and Other Equipment Financing Portfolio by Industry
Comparison with Last Year
Description (Rp billion) 2023 2024
Total Percentage
Mining 1,166 1,182 16 1.4%
Construction 735 815 80 10.9%
Industrial and Manufacturing 391 459 68 17.4%
Plantation 296 421 125 42.2%
Forestry 301 421 120 39.9%
Services 190 215 25 13.2%
Trade and Distribution 89 94 5 5.6%
Others 118 127 9 7.6%
Total 3,286 3,734 448 13.6%
Percentage of Total
Mining 35.5% 31.6% n/a -3.9%
Construction 22.4% 21.8% n/a -0.6%
Industrial and Manufacturing 11.9% 12.3% n/a 0.4%
Plantation 9.0% 11.3% n/a 2.3%
Forestry 9.1% 11.3% n/a 2.2%
Services 5.8% 5.8% n/a 0.0%
Trade and Distribution 2.7% 2.5% n/a -0.2%
Others 3.6% 3.4% n/a -0.2%
Total 100.0% 100.0%
Total Managed Receivables – Property-Backed Financing
By the end of 2024, Total Managed Receivables in the Property-Backed Financing segment reached Rp1,202 billion,
marking a 25.6% increase from the position at the end of 2023. A total of 93.8% of this portfolio comprised financing backed
by Houses, with their value rising by Rp212 billion throughout 2024. The remaining 6.2% were backed by Shophouses,
supported by strong growth of 80.5% or Rp33 billion in 2024.
Graph 10 | Composition of Property Types in Financing Portfolio (Rp billion)
2023 2024
4.3% 6.2%
House House
House
916 1,128 House
Shophouse Shophouse Shophouse Shophouse
95.7% 41 74 93.8%
957 TOTAL 1,202
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Total Managed Receivables – Ijarah and IMBT (Ijarah Allowance for Impairment Losses
Muntahiyah Bittamlik) Receivables
As previously mentioned, the Company recorded a 6.9%
By the end of 2024, Ijarah and IMBT Receivables reached increase in the Allowance for Impairment Losses, equivalent
Rp87 billion, recording a 61.1% growth throughout the year, to Rp53 billion. The total amount rose from Rp765 billion in
in line with the expansion of the Sharia Financing segment 2023 to Rp818 billion in 2024 as a precautionary measure
during the same period. to mitigate potential credit risks amid dynamic market
conditions driven by macroeconomic challenges. The
Total Managed Receivables – Channeling current level of allowance stands at 3.4% of Total Managed
Receivables. The Company’s NPF Coverage was recorded at
Total Channeling Financing refers to financing provided 2.7x, above the financing industry average.
through the Company’s P2P lending subsidiary, PT FIT,
As at 31 December 2024, the amount of financing that
where BFI Finance, as the parent company, acts as the
had exceeded 90 days past due stood at Rp301 billion,
lender. This segment of financing declined from Rp272
equivalent to 1.2% of the Company’s Total Managed
billion in 2023 to Rp198 billion in 2024, in line with the
Receivables.
decrease in the number of parties financed by PT FIT.
Table 25 | Allowance for Impairment Losses
Comparison with Last Year
Description (Rp billion) 2023 2024
Total Percentage
Total Managed Receivables 22,012 24,133 2,121 9.6%
NPF (including Joint Financing) 300 301 1 0.3%
Allowance for Impairment Losses 765 818 53 6.9%
NPF Coverage 2.6x 2.7x
Cash and Cash Equivalents by or repossessed from customers who are unable to
continue paying the installments), Customer Installment
The Cash and Cash Equivalents at the end of 2024 stood
Receipt Receivables (payments made by customers and
at Rp1,614 billion, a decrease of Rp126 billion or 7.2% from
received by BFI Finance’s payment partners, which will
Rp1,740 billion at the end of 2023. This decline was primarily
only be credited to the Company’s bank account on the
due to cash usage for Financing Activities amounting to
next business day), Employee Receivables, and Insurance
Rp510 billion, which included repayments of maturing loans
Premium.
and issued securities, as well as for Investment Activities
totaling Rp105 billion. Despite the decrease, the cash and The amount of Other Receivables recorded as at 31
cash equivalents balance at the end of 2024 remained December 2024 was Rp293 billion, an increase of 16.7% from
highly adequate and robust to support the Company’s Rp251 billion at the end of 2023. This increase was driven by
financing needs and liquidity. a rise in Receivables in the Settlement Process – Net, which
grew by Rp56 billion or 38.1% from the previous year. This
was due to the increase in reposessions and handovers of
Other Receivables – Third Parties
the collateralized assets by customers, in keeping with the
The Company recorded Other Receivables – Third Parties decline in purchasing power in society, affecting the ability
in various forms, including Receivables in the Settlement to meet financing installment payments.
Process – Net (the book value of collateral assets returned
Table 26 | Other Receivables - Third Parties
Comparison with Last Year
Description (Rp billion) 2023 2024
Total Percentage
Receivables in the Settlement Process - Net 147 203 56 38.1%
Employee Receivables 49 46 (3) -6.1%
Customer Installment Receipt Receivables 50 39 (11) -22.0%
Insurance Premium 1 2 1 100.0%
Others 4 3 (1) -25.0%
Total 251 293 42 16.7%
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Highlights and Analysis
Prepaid Expenses and Advances
Total Prepaid Expenses and Advances as at 31 December 2024 amounted to Rp20 billion, a decrease of 41.2% from
Rp34 billion at the end of 2023. This decline was primarily due to the full utilization of prepaid expenses, as well as the
amortization of prepaid provision expenses received as interest expenses on loans in 2024.
Table 27 | Prepaid Expenses and Advances
Comparison with Last Year
Description (Rp billion) 2023 2024
Total Percentage
IT Project Implementation 8 15 7 87.5%
Interest 11 1 (10) -90.9%
Loan Access Bureau 13 - (13) -100.0%
Others 2 4 2 100.0%
Total 34 20 (14) -41.2%
Fixed Assets – Net Deferred Tax Assets
BFI Finance’s Fixed Assets – Net as at 31 December 2024 Deferred Tax Assets reached Rp152 billion as at 31 December
amounted to Rp673 billion, down 6.7% from Rp721 billion at 2024, increasing by 15.2% from Rp132 billion at the end of
the end of 2023. This decline was primarily due to the sale 2023. This growth was primarily driven by timing differences
and renewal of the Company’s operational vehicles. in the Allowance for Impairment Losses on Financing
Receivables, which constituted the largest component of
Right-of-Use Assets – Net Deferred Tax Assets, as well as other comprehensive income
derived from derivative instruments used for cash flow
The total Right-of-Use Assets – Net as at 31 December 2024 hedging of foreign currency transactions, based on Mark-
reached Rp43 billion, an increase of 4.9% from Rp41 billion to-Market valuations provided by the respective banks.
at the end of 2023. This was due to the renewal of lease
agreements for several branch office locations, extending
their lease periods beyond 12 months. Derivative Assets
Derivative Assets declined by 50.9%, from Rp57 billion as at
Intangible Assets – Net 31 December 2023 to Rp28 billion as at 31 December 2024.
These Derivative Assets originate from the Company’s
As at 31 December 2024, Intangible Assets – Net decreased swap agreements to hedge loans in foreign currencies—
by 22.0% from the previous year, declining from Rp255 especially foreign loans denominated in US dollars—as one
billion to Rp199 billion. This decline was attributed to the of its funding sources, to anticipate interest rate risk and
amortization expense recorded during the year and the currency exchange rate risk.
write-off of the book value of certain software applications
Increases or decreases in Derivative Assets have no
in use at the Company’s subsidiary, as they had been no
impact on the Company’s performance, as these assets
longer in use prior to the end of the normal amortization
are purely derived from the Company’s hedging activities.
period.
The Company implements a strict hedging policy for
As at 31 December 2024, the amount of financing that loans denominated in foreign currencies and with floating
had exceeded 90 days past due stood at Rp301 billion, interest rates. All hedging activities take place through
equivalent to 1.2% of the Company’s Total Managed currency swap agreements with leading banks. Hedging
Receivables. is carried out on all loans in foreign currency. There are no
financial components exposed to foreign currency risk and
interest rate risk.
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Liabilities
Table 28 | Total Liabilities
Comparison with Last Year
Description (Rp billion) 2023 % 2024 %
Total Percentage
Fund Borrowings 8,666 59.8% 10,823 72.4% 2,157 24.9%
Securities Issued - Net 4,721 32.6% 2,936 19.7% (1,785) -37.8%
Accrued Expenses 324 2.2% 301 2.0% (23) -7.1%
Taxes Payable 200 1.4% 173 1.2% (27) -13.5%
Other Payables - Third Parties 438 3.0% 555 3.7% 117 26.7%
Post-Employment Benefits Liabilities 143 1.0% 150 1.0% 7 4.9%
Total 14,492 100.0% 14,938 100.0% 446 3.1%
BFI Finance’s Total Liabilities as at 31 December 2024 reached Rp14,938 billion, marking a 3.1% increase from Rp14,492
billion as at 31 December 2023. The largest component of liabilities at the end of 2024 was Fund Borrowings, accounting for
72.4% of total liabilities.
Table 29 | Source of Funds
Comparison with Last Year
Description (Rp billion) 2023 2024
Total Percentage
Fund Borrowings
Foreign Currency Borrowings 2,190 2,781 591 27.0%
Rupiah Borrowings 6,476 8,042 1,566 24.2%
Total Fund Borrowings 8,666 10,823 2,157 24.9%
Securities Issued
Bonds Payable 4,721 2,936 (1,785) -37.8%
Total Securities Issued - Net 4,721 2,936 (1,785) -37.8%
Total Source of Funds 13,387 13,759 372 2.8%
Fund Borrowings Securities Issued
In 2024, BFI Finance signed new loan agreements with Aside from bank loans, BFI Finance also obtains funding
several banks and financial institutions, with a total amount from the debt securities market in the form of Rupiah
of Rp5,200 billion. Thus, as at 31 December 2024, the Bonds. Throughout 2024, the Company issued one debt
Borrowings balance stood at Rp10,823 billion, representing security during the year, namely Obligasi Berkelanjutan
a 24.9% increase from Rp8,666 billion at the end of 2023. VI BFI Finance Indonesia Tahap I Tahun 2024, with a
This growth was driven by an increase in Bank Loans total issuance of Rp600 billion. The issuance amount
denominated in Rupiah by Rp1,566 billion and an increase was adjusted based on the Company’s funding needs.
in Bank Loans denominated in Foreign Currency by Rp591 Meanwhile, in 2024 the Company also fully repaid the
billion. Currently, the amount of borrowings denominated securities that had matured in the year, with a total amount
in Rupiah stood at Rp8,042 billion, representing 74.3% of of Rp2,387 billion. This brought the amount of Securities
total Fund Borrowings, with the remaining Rp2,781 billion or Debt Issued – Net as at 31 December 2024 to Rp2,936 billion,
25.7% were denominated in USD. representing a 37.8% decrease from Rp4,721 billion at the
end of 2023.
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Highlights and Analysis
Table 30 | Securities Issued
Description (Rp billion) 2023 2024
Bonds
Obligasi Berkelanjutan V BFI Finance Indonesia Tahap I Tahun 2021 400 -
Obligasi Berkelanjutan V BFI Finance Indonesia Tahap II Tahun 2021 530 -
Obligasi Berkelanjutan V BFI Finance Indonesia Tahap III Tahun 2023 1,100 483
Obligasi Berkelanjutan V BFI Finance Indonesia Tahap IV Tahun 2023 1,600 1,010
Obligasi Berkelanjutan V BFI Finance Indonesia Tahap V Tahun 2023 1,100 850
Obligasi Berkelanjutan VI BFI Finance Indonesia Tahap I Tahun 2024 - 600
Total Nominal Value 4,730 2,943
Less Unamortized Bonds Issuance Cost 9 7
Total - Net 4,721 2,936
Total Securities Issued 4,721 2,936
Joint Financing Taxes Payable
As one of the funding sources for BFI Finance, currently the Tax Payable as at 31 December 2024 reached Rp173 billion,
Company has a Joint Financing agreement with PT Bank marking a 13.5% decrease from Rp200 billion at the end
Jago Tbk. Under this arrangement, BFI Finance together of 2023. This decline was primarily due to the decrease in
with PT Bank Jago Tbk acted as funding providers for Article 26 Income Tax Payable, where the tax payment for
financing disbursed to customers who met specific criteria, the 2024 Interim Cash Dividend (Tax Period December
with the ratio of financing in the scheme being 1:99 for 2024) amounting to Rp65 billion had been paid earlier
the Company and Bank Jago, respectively. The Company within the same financial year, and meanwhile the tax
acts as a servicer in such transaction, and it is responsible payment for the previous year’s Interim Cash Dividend was
for among others managing the documentation and paid when it was due, i.e., in the following month.
administration of each customer, as well as performing
collection on customers that have not paid their Accrued Expenses
installments in a timely manner.
Accrued Expenses are expenses consisting of Bonus and
This Joint Financing collaboration is conducted on a
Other Allowances, Interest, Professional Fees, and Others. As
without recourse basis, meaning that the Company merely
at 31 December 2024, Accrued Expenses decreased by 7.1%,
forwards customer payments to the bank according to the
from Rp324 billion in the previous year to Rp301 billion. The
above financing ratio, and has no obligation to repay or
main driver of this decline was reduction in Accrued Interest
remit the principal installments, including interest, to the
Expenses, Professional Fees, and Others, due to be paid at
joint financing provider if customers failed to meet their
the end of 2024.
installment payments to the Company.
The balance of Joint Financing Agreement as at the end
of 2024 recorded as Bank Jago’s portion reached Rp1,223
billion, marking an increase of Rp729 billion from Rp494
billion at the end of 2023.
Table 31 | Accrued Expenses
Comparison with Last Year
Description (Rp billion) 2023 2024
Total Percentage
Bonus and Other Allowances 199 201 2 1.0%
Interest 75 57 (18) -24.0%
Professional Fees 8 3 (5) -62.5%
Others 42 40 (2) -4.8%
Total 324 301 (23) -7.1%
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Other Payables – Third Parties
Other Payables mainly consisted of Customer Deposits, Payables to Suppliers, Insurance Premium, and Others. Total Other
Payables as at 31 December 2024 was amounted to Rp555 billion, representing a 26.7% increase compared to the previous
year due to growth across all its components.
Table 32 | Other Payables - Third Parties
Comparison with Last Year
Description (Rp billion) 2023 2024
Total Percentage
Customer Deposits 259 273 14 5.4%
Payables to Suppliers 81 142 61 75.3%
Insurance Premium 45 60 15 33.3%
Others 53 80 27 50.9%
Total 438 555 117 26.7%
Post-Employment Benefit Liabilities
Post-Employment Benefit Liabilities are the Company’s obligation to fulfill the right of employees who worked until
retirement, or sooner, in accordance with applicable labor regulations. The Company’s Post-Employment Benefits
Liabilities as at 31 December 2024 showed an increase of 4.9%, from Rp143 billion at the end of 2023 to Rp150 billion. This
increase was based on actuarial calculations, influenced by several factors, including the discount rate, salary increases,
financial assumptions, and other considerations.
Equity
Table 33 | Total Equity
Comparison with Last Year
Description (Rp billion) 2023 2024
Total Percentage
Share Capital 399 399 - 0.0%
Additional Paid-in Capital - Net 610 610 - 0.0%
Treasury Stock (233) (233) - 0.0%
Other Comprehensive Income
Cumulative (Loss) Gain on Derivative Instrument for
1 (65) (66) -6,600.0%
Cash Flows Hedges - Net
Gain on Remeasurement of Defined Benefit Actuarial
65 75 10 15.4%
Program
Retained Earnings
Appropriated 120 125 5 4.2%
Unappropriated 8,538 9,271 733 8.6%
Total 9,500 10,182 682 7.2%
BFI Finance’s Total Equity as at 31 December 2024 increased by 7.2%, from Rp9,500 billion at the end of 2023 to Rp10,182
billion. The largest increase in Equity was driven by Retained Earnings balance, derived from the Company’s Profit for the
Year less the payment of 2024 Interim Cash Dividend.
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Additional Paid-In Capital – Net
During the period 31 December 2023 to 31 December 2024, Additional Paid-In Capital – Net remained unchanged at Rp610
billion.
Treasury Stock
The Company holds 927,732,000 shares in Treasury Stock, equivalent to 5.81% of the total outstanding shares. These
treasury stock have been repurchased by the Company and are not traded on the open market but remain recorded in the
Company’s financial statements.
During the period from 31 December 2023 to 31 December 2024, the position of Treasury Stock remained unchanged at
Rp233 billion.
Retained Earnings
The Company’s total Retained Earnings at the end of 2024 reached Rp9,396 billion, reflecting an 8.5% increase from
Rp8,658 billion at the end of 2023. This amount consisted of Appropriated Retained Earnings of Rp125 billion and
Unappropriated Retained Earnings of Rp9,271 billion.
Consolidated Statement of Profit or Loss and Other Comprehensive Income
Income
The Company’s Income was derived from Financing Income(92.9% of the total), Sharia Income (2.3%), and Other Income
(4.8%).
Total income decreased by 0.3%, or Rp18 billion, from Rp6,353 billion in 2023 to Rp6,335 billion in 2024. This decline was
primarily due to a Rp50 billion decrease in Financing Receivables Income and a Rp6 billion decline in Other Income.
Meanwhile, Sharia Financing Receivables recorded an increase of Rp38 billion.
Table 34 | Income
Comparison with Last Year
Description (Rp billion) 2023 2024
Total Percentage
Income
Own & Joint Financing 6,065 6,084 19 0.3%
Other Income 311 305 (6) -1.9%
Total 6,376 6,389 13 0.2%
Less Joint Financing (23) (54) (31) 134.8%
Total Income 6,353 6,335 (18) -0.3%
Income (Own Financing)
Financing Receivables
Financing Income 4,442 4,385 (57) -1.3%
Administration 839 851 12 1.4%
Late Charges 353 361 8 2.3%
Termination 299 286 (13) -4.3%
Total Financing Receivables Income 5,933 5,883 (50) -0.8%
Sharia Financing 109 147 38 34.9%
Total Financing Income 6,042 6,030 (12) -0.2%
Other Income 311 305 (6) -1.9%
Total Income 6,353 6,335 (18) -0.3%
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Financing Income
Financing Income (excluding Joint Financing) in 2024 was recorded at Rp6,030 billion, a slight decline of 0.2% from
Rp6,042 billion in 2023. Financing Income consists of Interest Income from Financing Activities, Administration Income,
Late Charges, and Termination Income.
The largest component was Financing Income, amounting to Rp4,385 billion, which declined by 1.3% in 2024 compared to
2023. Termination Income also decreased by Rp13 billion, from Rp299 billion in 2023 to Rp286 billion in 2024. Meanwhile,
Administration Income increased by 1.4% to Rp851 billion, and Late Charges grew by 2.3% to Rp361 billion in 2024.
Table 35 | Financing Income by Asset Type
Comparison with Last Year
Description (Rp billion) 2023 2024
Total Percentage
Breakdown by Asset Type
Used Cars Financing 3,924 4,015 91 2.3%
Motorcycles Financing 1,187 963 (224) -18.9%
Heavy Equipment Financing 479 541 62 12.9%
Property Financing 181 222 41 22.7%
New Cars Financing 133 154 21 15.8%
Sharia Financing 109 147 38 34.9%
Channeling 52 42 (10) -19.2%
Total Financing Income (including Joint Financing) 6,065 6,084 19 0.3%
Percentage of Asset Type
Used Cars Financing 64.7% 66.0% n/a 1.3%
Motorcycles Financing 19.5% 15.8% n/a -3.7%
Heavy Equipment Financing 7.9% 8.9% n/a 1.0%
Property Financing 3.0% 3.7% n/a 0.7%
New Cars Financing 2.2% 2.5% n/a 0.3%
Sharia Financing 1.8% 2.4% n/a 0.6%
Channeling 0.9% 0.7% n/a -0.2%
Total 100.0% 100.0%
Upon further analysis of Financing Income by Asset Type, Financing agreement dropped from 10% in 2023 to 1% by
the highest contribution in 2024 came from Used Cars mid-2024. This change impacted the Company’s share
Financing, amounting to Rp4,015 billion, representing 66.0% in the Joint Financing Receivables, which in turn led to a
of total Financing Income. This figure increased by 2.3% parallel decline in Income which the Company recognized
from Rp3,924 billion in 2023. in its books.
Meanwhile, Financing Income from other segments, such
as Heavy Equipment Financing, Property Financing, New Other Income
Cars Financing, and Sharia Financing, also recorded income
Other Income includes all non-core sources of income
growth in 2024, with the highest increase of Rp62 billion
originating from the Company’s main activities outside
(12.9%), contributed by the Heavy Equipment Financing
of financing activities, namely Recovery on Written-Off
segment.
Receivables, Bank Interest (Finance), Gain on Sale of Fixed
Conversely, financing income from Motorcycles Financing Assets - Net, and Others.
declined by 18.9% during the year to Rp963 billion. This
Total Other Income decreased by 1.9%, from Rp311 billion
decline was the primary factor behind the overall decrease
in 2023 to Rp305 billion in 2024, mainly due to a decline in
in Financing Income in 2024. Additionally, income from
Other Income – Finance by Rp29 billion or 34.9% in 2024.
Channeling also decreased by Rp10 billion to Rp42 billion
in 2024, as the Company’s financing portion in the Joint
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Expenses
Table 36 | Expenses
Comparison with Last Year
Description (Rp billion) 2023 2024
Total Percentage
Salaries and Benefits 1,457 1,517 60 4.1%
Interest and Financing Charges 951 931 (20) -2.1%
General and Administrative 871 875 4 0.5%
Provision for Impairment Losses 786 850 64 8.1%
Others 263 235 (28) -10.6%
Total 4,328 4,408 80 1.8%
Percentage of Expenses
Salaries and Benefits 33.7% 34.4% n/a 0.7%
Interest and Financing Charges 22.0% 21.1% n/a -0.9%
General and Administrative 20.1% 19.9% n/a -0.2%
Provision for Impairment Losses 18.1% 19.3% n/a 1.2%
Others 6.1% 5.3% n/a -0.8%
Total 100.0% 100.0%
Total expenses were recorded at Rp4,408 billion in 2024, a employee benefits, along with the associated taxes and
modest increase of Rp80 billion or 1.8% from Rp4,328 billion pension compensations, which have been determined in
in 2023. The greatest rise in Expenses was derived from an accordance with applicable accounting standards.
8.1% increase in Provision for Impairment Losses, followed The value of Salaries and Benefits increased by 4.1% of its
by a 4.1% increase in Salaries and Benefits, and a 0.5% value in 2023, driven by a Rp33 billion increase in Salaries
increase in General and Administrative. Meanwhile, Interest and Employee Benefits and a Rp27 billion increase in Post-
and Financing Charges and Others declined by 2.1% and Employment Benefits.
10.6%, respectively.
Interest and Financing Charges
Salaries and Benefits
Interest and Financing Charges originated from the
Salaries and Benefits made up the largest portion of Company’s funding activities, both through bank loans and
Expenses, and comprising 34.4% of all Expenses paid securities issued, as well as related costs and expenses.
by the Company in 2024. This component consists of all
salaries and benefits paid throughout the year, including all Interest and Financing Charges in 2024 decreased by Rp20
types of employee benefits such as performance bonuses, billion, or 2.1%, from their value in 2023.
Table 37 | Borrowings, Interest and Financing Charges, and Cost of Funds
Comparison with Last Year
Description (Rp billion) 2023 2024
Total Percentage
Fund Borrowings 8,666 10,823 2,157 24.9%
Securities Issued - Net 4,721 2,936 (1,785) -37.8%
Total Borrowings 13,387 13,759 372 2.8%
Interest and Financing Charges 951 931 (20) -2.1%
General and Administrative Expenses
General and Administrative Expenses consist of expenses paid to support the Company’s operational activities and
business growth. In 2024, General and Administrative Expenses were well controlled and increased only slightly, by Rp4
billion, or 0.5%, even as the Company’s Total Managed Receivables expanded by 9.6%. This reflected an improvement in
work productivity throughout 2024.
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Provision for Impairment Losses Receivables in 2024. There was also an increase in
Allowance for Impairment Losses Expenses – Ijarah and
Provision for Impairment Losses is the value set aside based
IMBT Receivables, from Rp1 billion to Rp4 billion over the
on an evaluation of the value of the Company’s Financing
same period.
Receivables, both individually and collectively, which is
calculated on a monthly basis to ensure the adequacy of
Allowance for Impairment Losses in Receivables stated in Other Expenses
the Statement of Financial Position, which represents fair Other Expenses consist of expenses that are not routine
value according to the standard applicable accounting in nature or directly support the Company’s operational
standards (IFRS 9/SFAS 71). activities and business growth.
Provision for Impairment Losses in 2024 increased by Other Expenses in 2024 primarily consisted of Written-off
Rp64 billion or 8.1%, from Rp786 billion in 2023 to Rp850 Receivables in Settlement Process, accounting for 97.9%
billion. This was related to the increase in Total Managed of total Other Expenses. There was an improvement in the
Receivables by 9.6% during the year. quality of the Company’s receivables, resulting in Other
This increase was derived from a Rp61 billion rise in Expenses amounting to Rp235 billion in 2024, which was
Provision for Impairment Losses Expenses – Financing 10.6% lower than the total in 2023.
Table 38 | Other Expenses
Comparison with Last Year
Description (Rp billion) 2023 2024
Total Percentage
Written-off Receivables in the Settlement Process 229 230 1 0.4%
Net Loss on Disposal of Intangible Assets - 5 5 n/a
Provision for Impairment Losses of Receivables in the
34 - (34) -100.0%
Settlement Process
Total 263 235 (28) -10.6%
Profit for the Year
The Company’s Profit for the Year in 2024 declined by 4.8%, or Rp79 billion, from Rp1,644 billion in 2023. The Company
recorded a Profit for the Year of Rp1,565 billion in 2024 after paying Income Tax Expense of Rp362 billion, which was Rp19
billion lower than in 2023. This decrease was due to the slight decline in Income during the year of Rp18 billion, while
Expenses exhibited a modest increase of Rp80 billion, as explained in the previous sections.
Table 39 | Profit for the Year
Comparison with Last Year
Description (Rp billion) 2023 2024
Total Percentage
Profit Before Tax 2,025 1,927 (98) -4.8%
Income Tax Expense 381 362 (19) -5.0%
Profit for the Year 1,644 1,565 (79) -4.8%
Income Tax Expense Ratio 18.8% 18.8% n/a 0.0%
The income tax rate for the Company in 2023 and 2024 Comprehensive Income for the Year
was 19%, lower than the standard rate of 22%, since the
Total Comprehensive Income for the Year in 2024 amounted
Company met the following criteria:
to Rp1,509 billion, representing an 8.3% decrease from
• At least 40% of the shares issued are owned by the Rp1,646 billion in 2023. This was primarily due to a decline in
public; Profit for the Year by Rp79 billion and Other Comprehensive
• The public must consist of a minimum of 300 individuals, Loss for the Year – Net of Tax, which was recorded at Rp56
each holding less than 5% of the issued shares; and billion in 2024. The latter was mainly driven by changes
• Both of these conditions must be fulfilled for at least six in the fair value of derivative instruments used for cash
months (183 days) within in one tax year. flow hedging of foreign currency transactions, based on
the Mark-to-Market valuations provided by the respective
banks.
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Table 40 | Comprehensive Income for the Year
Comparison with Last Year
Description (Rp billion) 2023 2024
Total Percentage
Profit for the Year 1,644 1,565 (79) -4.8%
Other Comprehensive Income (Loss) for the Year - Net of Tax 2 ( 56) (58) -2,900.0%
Total Comprehensive Income for the Year 1,646 1,509 (137) -8.3%
Basic Earnings per Share
Consistent with the 4.8% decline in Profit for the Year in 2024, BFI Finance recorded Basic Earnings per Share of Rp104 per
share, which was 4.5% lower than Rp109 in 2023.
Consolidated Statement of Cash Flows
BFI Finance’s Cash Flows are classified into Operating, Investing and Funding Activities. To provide more accurate financial
information, certain accounts were reclassified in the consolidated financial statements as at 31 December 2023 to align
with the presentation of the consolidated financial statements as at 31 December 2024, particularly in the Statement of
Cash Flows, as follows:
Table 41 | Statement of Cash Flows
Comparison with Last Year
Description (Rp billion) 2023* 2024
Total Percentage
Cash and Cash Equivalents at Beginning of Year 1,073 1,740 667 62.2%
Net Cash Flows from Operating Activities 302 489 187 61.9%
Net Cash Flows for Investing Activities (360) (105) 255 -70.8%
Net Cash Flows from (for) Financing Activities 725 (510) (1,235) -170.3%
Net Increase (Decrease) in Cash and Cash Equivalents 667 (126) (793) -118.9%
Cash and Cash Equivalents at End of Year 1,740 1,614 (126) -7.2%
* A few accounts in the Consolidated Financial Statements as of 31 December 2023 were reclassified in order to conform with the presentation
of Consolidated Financial Statements as of 31 December 2024
The Company’s Cash and Cash Equivalents decreased by due to significant expenditures in 2023 for the acquisition
Rp126 billion during 2024, ending the year at Rp1,614 billion. of intangible assets, specifically software investments
These changes in Cash and Cash Equivalents are detailed for digitalization as part of the Company’s information
below. technology transformation and the strengthening of
cybersecurity systems and infrastructure following the
cyber attack.
Cash Flows from Operating Activities
Cash Flows from Operating Activities used to fund the
Cash Flows from Financing Activities
Company’s business, especially the disbursement of new
financing. Net Cash Flows from Operating Activities in 2024 Cash Flows from Financing Activities refer to financing
was recorded at Rp489 billion, an increase of 61.9% from transactions, including new funding, debt repayment,
Rp302 billion in 2023. and payments of maturing interests. Net Cash Flows from
Financing Activities amounting to Rp510 billion in 2024,
compared to Net Cash Flows from Financing Activities of
Cash Flows from Investing Activities Rp725 billion in 2023. This was due to higher repayments
Cash Flows from Investing Activities originate from gains of borrowings, issued debt securities, and interim cash
and losses related to investing activities and capital dividends for the 2024 financial year, which exceeded the
expenditures. Net Cash Flows for Investing Activities in proceeds from new borrowings and issued debt securities
2024 amounting to Rp105 billion, Rp255 billion lower than during 2024.
the amount spent in 2023. This decrease was primarily
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ANALYSIS OF KEY RATIOS
Table 42 | Financial Ratios
Ratios 2023 2024 Industry Average*
ROAA 8.4% 8.0% 5.0%
ROAE 17.7% 15.7% 13.8%
Profit for the Year / Total Income 25.9% 24.7% 16.3%
* Source: Data of Statistics of Indonesian Financing Institutions as of 31 December 2024 issued by OJK
Ratios 2023 2024 Industry Average*
Solvency
Liabilities-to-Assets Ratio 0.6x 0.6x 0.7x
Liabilities-to-Equity Ratio 1.5x 1.5x 2.5x
Gearing Ratio 1.4x 1.4x 2.3x
Corporate Credit Ratings AA-(idn) AA-(idn) -
* Source: Data of Statistics of Indonesian Financing Institutions as of 31 December 2024 issued by OJK
OJK Industry
Ratios 2023 2024
Requirement Average*
Financing-to-Assets Ratio (FAR) > 40% 86.5% 88.0% 85.5%
Financing-to-Debt Ratio > 50%** 155.1% 160.6% 130.4%
Investment and Working Capital Financing to > 10% 78.6% 77.4% 43.8%
Total Financing Ratio
Non-Performing Financing Ratio - Gross < 5% 1.36% 1.25% 2.70%
Non-Performing Financing Ratio - Net < 5% 0.15% 0.21% 0.75%
Capital Ratio > 10% 65.0% 67.2% n/a
Gearing Ratio < 10x -100.0% 1.4x 2.3x
Equity-to-Paid-up-Capital Ratio > 50% 2,379.8% 2,550.7% 319.8%
* Source: Data of Statistics of Indonesian Financing Institutions as of 31 December 2024 issued by OJK
** The target set by management is in accordance with POJK No. 35/POJK.05/2018
Profitability
BFI Finance recorded a solid level of profitability in 2024 at Rp1,565 billion, although this signifies a 4.8% correction from the
Rp1,644 billion achieved in 2023.
Average Return on Assets (ROAA) in 2024 was recorded at 8.0%, down by 0.4% from 8.4% in 2023, yet it remained higher
than the average for Indonesia’s financing industry, which stood at 5.0%.
Average Return on Equity (ROAE) also contracted from 17.7% to 15.7% over the same period. Similar to ROAA, the Company’s
ROAE remained above the industry average in Indonesia, which was 13.8%.
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Highlights and Analysis
Debt Repayment Ability
The Company’s ability to pay debt is measured by the following criteria:
• Asset Solvency Ratio to measure the amount of Assets financed using Liabilities;
• Liquidity Ratio to measure the ability to meet Current Liabilities using Current Assets;
• Gearing Ratio to measure Debt-to-Equity Ratio; and
• Rating results by accredited credit rating agencies.
Despite the slowdown in business performance in 2024, the Company’s solvency ratios at the end of 2024 remained
unchanged from the end of 2023. The Company’s credit rating from Fitch Ratings also remained the same as the previous
year at ‘AA-(idn)’.
Receivables Collectibility Level (Asset Quality)
Table 43 | Receivables Collectibility Level (Asset Quality)
Amount of Receivables
Percentage
(Rp billion)
Description Days Past Due
2023 2024 2023 2024
1 - Current 0 - 10 days 19,087 21,291 86.71% 88.22%
2 - Special Mention 11 - 90 days 2,625 2,541 11.93% 10.53%
3 - Non-current 91 - 120 days 88 106 0.40% 0.44%
4 - Doubtful 121 - 180 days 152 139 0.69% 0.58%
5 - Bad > 180 days 60 56 0.27% 0.23%
Total 22,012 24,133 100.00% 100.00%
Non-NPF 0 - 90 days 21,712 23,832 98.64% 98.75%
NPF > 90 days 300 301 1.36% 1.25%
Receivables Collectability is classified based on the number of days due.
The Company’s Collectability Ratio in 2024 strengthened compared to the end of 2023. The proportion of Current
Receivables to Total Receivables at the end of 2024 reached 88.22%, while Receivables categorized as “Loss” accounted for
only 0.23% of Total Receivables.
As at the end of 2024, gross NPF at BFI Finance’s was recorded at 1.25%, lower than 1.36% at the end of 2023, and remained
below the average for Indonesia’s financing industry at 2.70%. Meanwhile, net NPF increased from 0.15% at the end of 2023
to 0.21% at the end of 2024, still below the industry average of 0.75%. Despite the increase, this achievement was far better
than the NPF provision set by the OJK at less than or equal to 5%.
Other Relevant Financial Ratios
BFI Finance continuously complies with all applicable Bank Indonesia and OJK regulations, including those related to
financial ratios.
Overall, based on the financial ratios presented in Table 42, the Company’s financial position remained relatively stable
throughout 2024. All of these ratios were better than the industry average and the thresholds set by OJK.
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Governance Statements
COMPARISON OF ACHIEVEMENTS
AGAINST TARGETS IN 2024
In 2024, BFI Finance faced challenging economic To ensure business sustainability, the Company has adopted
conditions, leading to slower growth amid an unfavourable an innovative approach to digital transformation and risk
market environment, as relatively high interest rates management. The establishment of the Transformation
weakened consumer purchasing power, particularly among Directorate was a strategic step to align operations with
the Company’s primary target segments. To maintain integrated risk management.
financial stability, the Company consolidated its business The company’s performance compared to its 2024 targets
operations and tightened its underwriting process to is presented in Table [44]. Several indicators, including NPF
ensure asset quality. System and process transformation and Loan-to-Equity Ratio, exceeded the set targets. This
continued to be accelerated to strengthen long-term achievement reflects the Company’s discipline in managing
growth. its financing portfolio and the effectiveness of its funding
The company implemented a phased strategy, beginning strategy.
with strengthening its internal structure and improving
asset quality before expanding new financing. As the
market began to stabilise, BFI Finance increased its
financing disbursement, including in the Property-Backed
Financing and Sharia Financing segments. Acquisition
channel diversification was also pursued through
partnerships with strategic digital players, enabling the
Company to reach more customers with a range of flexible
financing solutions.
From a financial performance perspective, BFI Finance
successfully grew its New Financing, although it did
not fully meet the targets set for 2024. The Company’s
competitive advantage was demonstrated by its ability to
secure funding at a cost below the industry average and the
implementation of stringent risk management to maintain
asset quality. Financial stability was further supported by
prudent cash flow management, allowing the Company
to uphold its commitment to distributing high dividends
despite market volatility.
Table 44 | Comparison of Achievements Against Targets
Description Target Realization
New Financing Growth 15% above 2023 achievement 5.1%
Net Receivables Growth 13% above 2023 achievement 6.4%
Asset Growth 10% above 2023 achievement 4.7%
Revenue Growth 8% above 2024 achievement -0.3%
Net Profit 15% above 2023 achievement -4.8%
NPF < 2.0% 1.25%
Debt-to-Equity Ratio < 2.0x 1.4x
Dividend Payout Ratio Up to 50% *
* Pending 2025 GMS resolution
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About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
CAPITAL STRUCTURE
Management Policy on Capital Structure
The company’s articles of Association stipulate that the Company’s Authorised Capital is Rp500 billion. The Authorised
Capital consists of 20 billion shares with a nominal value of Rp25 per share. Of the Authorized Capital, 15,967,115,620 shares
have been issued and fully paid up. A total of 927,732,000 shares had been repurchased by the Company as at 31 December
2024.
For capital management, the Company refers to POJK 35, which requires:
• A minimum capital of Rp100 billion;
• Minimum equity of 50% of the total Paid-in Capital; and
• Gearing Ratio (Ratio of Total Financing to Equity minus Subordinated Loans with Investment) of a maximum of 10 times,
both for domestic and international financing.
Table 45 | Capital Structure
Company Realization
Description (Rp billion) POJK Requirement
2023 2024
Equity Minimum Rp100 billion 9,500 10,182
Ratio of Total Equity to Paid-up Capital Minimum 50% 2,379.8% 2,550.7%
Financing-to-Equity Ratio Maximum 10x 1.4x 1.4x
MATERIAL INVESTMENT ON CAPITAL GOODS
The Company’s Capital Expenditure in 2024 was focused on purchasing Vehicles and Office Equipment, following
developments in the operational needs of its employees
For 2024, overall Capital Expenditures amounting to Rp121 billion, with 84.3% had been completed, and the remainder still
in process. The source of funding for Capital Expenditures was derived from the Company funds.
MATERIAL COMMITMENTS
Throughout 2024, the Company did not make any material commitments other than those discussed in the previous
sections.
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EVENTS AFTER THE REPORTING PERIOD
During the period between 31 December 2024 and the 2025 General Meeting of Shareholders (GMS), the Company held
an Extraordinary General Meeting of Shareholders (EGMS) on 30 January 2025, with the resolutions detailed in the Good
Corporate Governance chapter, pages 124–156. None of the resolutions from the EGMS had a material impact on the
presentation of the financial statements for the 2024 financial year.
DIVIDENDS
The Company’s Dividend Policy is summarized as follows:
• All issued and fully paid shares have the same rights, including the right to Dividends, except for repurchased shares
(Treasury Shares);
• Without prejudice to the right of the GMS to determine otherwise, the Company intends to distribute Cash Dividends
with a value of up to 50% of Net Income for the Year;
• Dividends can be distributed all at once in a year, or more than once through Interim Dividends.
The Company’s Board of Directors’ meeting on 29 November 2024 decided to distribute an Interim Cash Dividend for the
2024 financial year of Rp28 per share. Dividend payments to shareholders was made on 19 December 2024.
Table 46 | Dividend Payment
Fiscal Year 2023 2024
Date of BOD Meeting 1 December 2023 29 November 2024
Date of GMS 22 May 2024 *
Dividend per Share (in full amount - rupiah currency)
Interim** 28 28
Final 27 ***
Total 55 28
Payout Ratio 50.3% ***
Payment Date
Interim** 21 December 2023 19 December 2024
Final 21 June 2024 ***
Total of Dividend (Rp billion) 827 421
* Pending decision on the date of 2025 GMS
** Interim Cash Dividend was determined at the BOD Meeting
*** Payment of final dividend for 2024 shall be determined during the 2025 GMS
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USE OF PUBLIC OFFERING FUNDS
In accordance with POJK requirements No. 30/POJK.04/2015 on the obligation to submit a Report on the Realization of the
Use of Funds from a Public Offering (POJK 30/2015), the Company reports the use of funds from each corporate action it
performs.
During 2024, the Company offered bonds denominated in rupiah, namely Obligasi Berkelanjutan VI BFI Finance Indonesia
Tahap I Tahun 2024, with total proceeds of Rp600 billion. Details of the public offering are presented in the Corporate Data
chapter, pages 188–189.
In accordance with the requirements of POJK 30/2015, the Company reported the use of funds from the corporate action.
In accordance with the guidance in the prospectus and additional information published, these funds were used entirely
for working capital needs to carry out the Company’s main business. There was no change in the use of funds from this
general issuance. All uses had been reported to the authorities.
INVESTMENT, DIVESTMENT, MERGER & ACQUISITION,
AND DEBT OR CAPITAL RESTRUCTURING
The Company did not carry out any Material Investments, Divestments, Mergers & Acquisitions, or Debt or Capital
Restructuring in 2024.
TRANSACTION WITH POTENTIAL CONFLICT OF INTEREST
AND RELATED PARTIES
In carrying out its business activities, the Company and its subsidiaries carry out transactions with certain related parties
namely employees (key management personnel) and PT Bank Jago Tbk (under a similar ultimate beneficial owner).
Transactions with related parties consist of Salaries and Benefits amounting to Rp56 billion in 2024, which was 1.3% of Total
Expenses for that year. Meanwhile, the amount in 2023 reached Rp66 billion (1.5% of Total Expenses).
Transactions with PT Bank Jago Tbk as a related party comprised of Current Accounts amounting to Rp70 million, Time
Deposits amounting to Rp6.8 billion, Interest Income of Rp58 million, Interest Expense of Rp1 million, and Fund Borrowing
of Rp169.1 billion.
All Transactions with Related Parties, except for Salaries and Employee Benefits paid to key management personnel, were
carried out under the normal business operations requirements.
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Governance Statements
IMPACT FROM REGULATORY CHANGES
ON THE COMPANY
In 2024, the RI Government issued several new regulations 16. OJK Regulation No. 49/2024 on Supervision,
related to the implementation of business activities and Determination of Supervision Status, and Follow-up of
operations of multifinance companies, namely: Supervision of Financing Institutions, Venture Capital
1. Law of the Republic of Indonesia No. 1/2024 on Companies, Microfinance Institutions, and Other
Second Amendment to Law No. 11/2008 on Electronic Financial Services Institutions;
Information and Transactions; 17. OJK Circular No. 1/SEOJK.06/2024 on Procedures and
2. Minister of Manpower Regulation No. 16/2024 on Mechanisms for Submitting Funding Transaction
Determination of Minimum Wage in 2025; Data and Reporting of Information Technology-Based
Joint Funding Service Providers (LPBBTI in Indonesian
3. OJK Regulation No. 3/2024 on Implementation of abbreviation);
Financial Sector Technology Innovation;
18. OJK Circular No. 11/SEOJK.01/2024 on Reporting and
4. OJK Regulation No. 4/2024 on Report of Ownership Requesting Debtor Information through the Financial
or Every Amendment in Share Ownership of Public Information Services System;
Companies and Share Pledge Activity Report of Public
Companies; 19. OJK Circular No. 13/SEOJK.08/2024 on Preparation and
Submission of Financial Literacy and Financial Inclusion
5. OJK Regulation No. 11/2024 on Second Amendment to Plan and Realization Reports;
OJK Regulation No. 18/POJK.03/2017 on Reporting and
Requesting of Debtors Information through Financial 20. OJK Circular No. 18/SEOJK.08/2024 on Self-Assessment
Information Service System (SLIK); of Compliance with Consumer and Community
Protection Provisions in Financial Services Sector; and
6. OJK Regulation No. 12/2024 on Implementation of Anti-
Fraud Strategy for Financial Services Institutions; 21. OJK Circular No. 22/SEOJK.06/2024 on Fit and
Proper Assessment for Principal Parties of Financing
7. OJK Regulation No. 14/2024 on Task Force for Handling Institutions, Venture Capital Companies, Microfinance
Unlicensed Business Activities in the Financial Sector; Institutions, and Other Financial Services Institutions.
8. OJK Regulation No. 28/2024 on Management of
Perpetrator Track Record Information through the The issuance of these regulations will further enhance
Perpetrator Information System in the Financial the quality of services in the financial services sector,
Services Sector; particularly in the financing industry, in Indonesia.
Accordingly, The Company has taken every measure
9. OJK Regulation No. 30/2024 on Financial necessary to comply with the requirements of these
Conglomerates and Financial Conglomerate Holding regulations.
Companies;
10. OJK Regulation No. 31/2024 on Written Order;
11. OJK Regulation No. 40/2024 on Information
Technology-Based Joint Funding Services;
12. OJK Regulation No. 42/POJK.05/2024 on
Implementation of Risk Management for Financing
Institutions, Venture Capital Companies, Microfinance
Institutions, and Other Financial Services Institutions;
13. OJK Regulation No. 43/2024 on Human Resource
Quality Development of Financing Institutions, Venture
Capital Companies, Microfinance Institutions, and
Other Financial Services Institutions;
14. OJK Regulation No. 46/2024 on Development and
Strengthening of Finance Companies, Infrastructure
Finance Companies, and Venture Capital Companies;
15. OJK Regulation No. 48/2024 on Good Governance for
Financing Institutions, Venture Capital Companies,
Microfinance Institutions, and Other Financial Services
Institutions;
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ACCOUNTING POLICY CHANGES
Changes to Statements of Financial Accounting Standards (SFAS) and Interpretation of Financial Accounting Standards
(ISAK) which Applied Effectively in the Current Period
The implementation of changes to accounting standards, which are effective from 1 January 2024, and are relevant for
the Company and its subsidiaries but do not have a significant impact on the accounting policies of the Company and its
subsidiaries, are as follows:
1. Amendment to SFAS 201, Presentation of Financial Statements – Long-Term Liabilities with Covenants, adopted from
IAS 1, “Presentation of Financial Statements”;
2. Amendment to SFAS 116, “Leases” – Lease Liabilities in Sale and Leaseback Transactions, adopted from the
amendment to IFRS 16, “Leases”; and
3. SFAS 207, “Statement of Cash Flows”, related to Disclosure on Supplier Financing Arrangements.
A summary of the changes and impacts of these new accounting standards on the Company’s financial condition is
presented in Table 47.
Table 47 | Changes of SFAS that Affect the Company
Impact on the
Accounting Standards Summary of Changes Reasons for Changes
Company
Amendment to SFAS 201, Non- Amendment on the non- Amendment classifies liailbiities Has been
Current Liabilities with Covenants current laibilities with with covenants that an entity adjusted
that is adopted from amendment covenants required to comply on the reporting
of IAS 1, “Presentastion of Financial date will affect the classification
Statements” over short-term or long-term and
its disclosures
Amendment to SFAS 116 “Leases” Amendment related to The amendment regulates the No implications
– Lease Liabilities in Sale-and- lease liabilities in sale and subsequent measurement of sale
Leaseback Transactions adopted leaseback and leaseback transactions
from amendment of IFRS 16,
“Lease”
SFAS 207, “Statements Cash Amendments on supplier Amendment clarifies disclosures Not significant
Flows” about Disclosures related to financing arrangements related to supplier financing
Supplier Financing Arrangements arrangements on an entity’s
liabilities, cash flow, and liquidity
risk
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2025 BUSINESS PROSPECTS
Indonesia’s economic growth target for 2025, as set in the Indonesia’s financing industry is projected to grow at a
National Budget, has been set at 5.2%. This target is higher modest rate of 7–8% in 2025, according to APPI’s analysis.
than the forecasts of many institutions and economic This forecast aligns with the industry’s single-digit growth
analysts, which generally project growth around 5%. in 2024. Industry players must collectively take proactive
Persistent global macroeconomic challenges and structural measures to mitigate the potential deterioration of
gaps within the country remain the key obstacles to financing receivables quality, particularly among lower-
Indonesia’s development progress. middle-income consumers. By the end of 2024, millions
Nevertheless, this 5.2% growth rate would be the second of individuals from this demographic were affected by
highest among G20 countries, following India, and the widespread presence of online lending and gambling
significantly above the projected global economic growth practices, exacerbated by Indonesia’s still-low financial
of around 3.2–3.3%. The three main drivers of Indonesia’s literacy and inclusion index.
economy in 2025 are domestic consumption, exports, The unsecured financing segment, including Buy Now, Pay
and investment, which are each targeted to grow by Later (BNPL) schemes, is expected to gain further traction
approximately 6%, 9%, and 10%, respectively. Several among customers. This trend is projected to drive online
industrial sectors with strong growth prospects include the lending business growth by up to 20%, vastly outpacing the
digital and information technology sector, export-oriented overall financing industry’s average growth. Additionally,
manufacturing, and renewable energy. the housing financing segment will gain momentum,
Bank Indonesia’s monetary policy will continue to play aligning with the government’s ambitious target of
a crucial role in ensuring stability and balance between constructing three million houses per year for low-income
economic growth and controlled inflation. After registering households. These developments present new growth
the lowest inflation rate in its history in 2024, Bank opportunities for financing industry players, but they
Indonesia lowered its benchmark interest rate by 0.25% must be approached strategically through well-designed
to 5.75% at the beginning of 2025 to stimulate sustainable financing products that empower customers.
growth. This move is also expected to enhance employment BFI Finance has set growth targets ranging from 4–12% for
absorption while fostering a more economically equitable New Financing Disbursement, Net Receivables, and Net
society. Profit compared to their respective values in 2024. With
Consumer spending trends are reflected in the automotive an estimated Revenue growth of around 7%, Assets are
market. After falling significantly short of its sales target projected to grow by up to 4% above the year-end 2024
in 2024, GAIKINDO has set a more conservative target achievement. Meanwhile, the Loan-to-Equity Ratio will be
of 900,000 cars for 2025. If achieved, this figure would maintained below 2.0x. The Company aims for a Dividend
represent growth of approximately 3.9% from 2024 sales. Payout Ratio of up to 70% to deliver sustainable financial
Conversely, based on the strong performance of the value to all shareholders.
motorcycle industry in 2024, AISI has set a sales target of 6.7
million motorcycles in 2025, reflecting a 3.1% increase.
Table 48 | 2025 Business Targets
Description Target
New Financing Growth 10% above 2024 achievement
Net Receivables Growth 4% above 2024 achievement
Asset Growth 4% above 2024 achievement
Revenue Growth 7% above 2024 achievement
Net Profit 12% above 2024 achievement
NPF < 2.0%
Debt-to-Equity Ratio (Gearing Ratio) < 2.0x
Dividend Payout Ratio Up to 70%
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05 GOOD CORPORATE
GOVERNANCE
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Governance Statements
G
R
E
A
T
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Highlights and Analysis
GOOD CORPORATE GOVERNANCE REPORT
BFI Finance conducts good corporate governance a safe work environment and providing equal
(GCG) practices in accordance with guidelines from opportunities for employees.
relevant authorities, demonstrating the management
The guideline for implementing these GCG principles is
and employees’ commitment to long-term business
available on the Company website at https://www.bfi.co.id/
sustainability. These practices are conducted in compliance
en/corporate/Corporate-Good-Governance/corporate-
with the prevailing laws and regulations. The list of the
governance-guidelines.
laws and regulations is reviewed and updated regularly
updated, and also made accessible at https://www.bfi.
co.id/en/corporate/Corporate-Good-Governance/corporate- GCG Purposes
governance-guidelines.
BFI Finance implements GCG principles to achieve, among
others:
Main Principles
1. Optimization of the Company’s values for stakeholders;
The Company applies the following GCG principles in its 2. Improvement of the Company’s professional, effective,
business activities in all organizational levels: and efficient management;
3. Improvement of the Company’s governance bodies’
1. Transparency: The Company prioritizes transparency
and its subordinates’ compliance with the strict ethical
through annual reports, financial reports, and business-
standards, rules and regulations, and awareness of social
related publications on the Company website.
responsibility;
2. Accountability: The Company ensures clarity of rights,
4. Establishment of a financially sound business that is
authority, duties, and responsibilities of all governance
reliable and has a competitive edge in order to maintain
bodies of the Company
its presence and sustainability to achieve the Company’s
3. Responsibility: The Company complies with the articles
aims and objectives; and
of association and the prevailing regulations, including
5. Improvement of the Company’s contribution to the
business ethics, corporate social responsibility, and tax
national economy.
obligations.
4. Independence: The Company ensures independence
from external interference that does not comply with GCG Structure and Mechanism
regulations and remains free from conflicts of interest.
5. Equality and Fairness: The Company fulfills the rights The GCG structure at BFI Finance consists of the following
of stakeholders in a just and equitable manner in governance bodies in the chart below:
accordance with applicable regulations, by maintaining
Graph 9 | GCG Structure of the Company
Transparency, Accountability, Responsibility, Independence, and Fairness Governance Principles
GMS • Audit Committee
• Risk Oversight
Committee
• Nomination and
Sharia Supervisory Board BOD BOC Remuneration
Committee Governance Structure
Internal Control Internal Corporate Risk
Compliance
System Audit Secretary Management
GMS, execution of functions; authorities and responsibilities of the BOC and the
BOD, meetings between the BOC and the BOD, execution of policies and strategies Governance Processes
in line with vision and mission; human capital development and training, and
implementation of CSR programs
Business sustainability, efficiency, benefits for society, compliance with regulations,
Governance Outcomes
consumer protection, and environmental protection
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The GCG structure at BFI Finance is designed to ensure clear mapping of business functions and activities, avoid conflicts
of interest, and support the checks and balances function.
GCG is exercised within an infrastructure framework, which includes policies, procedures, management information
system, and main duties as well as functions of each governance body. This GCG infrastructure is evaluated regularly
and adjusted to the latest developments and best practices in GCG. The latest enhancements to BFI Finance’s GCG
Infrastructure were ratified in the Policy/026 dated 1 July 2021 on Guidelines for the Implementation of Good Corporate
Governance.
Table 49 | BFI Finance’s GCG Infrastructure
No GCG Infrastructure Form
1 Code of Business Principles which is • Company Core Values (G.R.E.A.T.) and BFI New Mindset as the
applicable to all BFI Finance’s activities, guidelines on the Company’s culture and behavior
both in head office and branches, and to • Corporate Responsibilities
all employees • Business Integrity
• Operational Activity Commitment
• Company Regulations 2024–2026
2 Procedures to carry out duties and Guidelines for the BOC and the BOD (Board Manual)
responsibilities of the BOC and the BOD
3 Completeness and procedures of carrying • Audit Committee Charter
out the duties of committees and work • Risk Oversight Committee Manual
units in conducting internal control • Nomination and Remuneration Committee Manual
function • Sharia Product and Business Activity Development Committee
Charter
• Risk Management Committee Charter
• Information Technology (IT) Steering Committee Charter
4 External audit, internal audit, compliance • Code of Business Principles
function implementation procedures and • G.R.E.A.T. (Company Core Values) and BFI New Mindset,
policies guidelines on behavior and culture, applicable to all employees
• Company Regulations 2024–2026
• Internal Audit Charter
• Various applicable policies, decrees, SOPs, and guidelines in the
Company
5 Policy of transparency of financial and • Quarterly Financial Statements
non-financial conditions • Mid-year Financial Statements
• Annual Financial Statements
• Integrated Annual Report (featuring both Annual Report and
Sustainability Report)
GCG Roadmap GCG Implementation Focus
The Company’s GCG Roadmap is implicitly stated and In 2024, the Company’s focus of GCG implementation was
aligned to OJK’s directive in every practice. Several on the following:
important structures and mechanisms, which are still 1. Integration of risk management into the strategic
ongoing in GCG implementation at the Company, are Code framework of the Company’s new business model;
of Business Principles, Board Manual for the BOC and BOD 2. Improvement of risk management practices, especially
as well as the Committees, and supporting procedures and related to debtor quality and cybersecurity;
policies such as Whistleblowing System, Risk Management 3. Enhancement of the Company’s regulations in
Policy, and Compliance Policy. alignment with the latest external regulations; and
As a part of GCG Roadmap, the Company regularly 4. Assurance and assessment in the following aspects:
evaluates, updates, and disseminates its GCG practices to all a. Adequacy of reporting transparency;
employees. b. Compliance with rules and regulations;
c. Consumer protection;
d. Audit independence; and
e. Company performance and achievements,
financially and operationally.
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GCG Implementation Evaluation
Results of an internal assessment conducted by BFI Finance of its GCG achievements in 2024 showed that the
Management had implemented GCG satisfactorily, as summarized in Table 50.
Table 50 | GCG Implementation Evaluation
No. Aspect Positive Factors Negative Factors
A Governance Structure
1 The Number, Composition, In accordance with the complexity and size of the None
Integrity and Competence Company and in compliance with applicable regulations.
of Members of the BOC,
Committees under the BOC,
Sharia Supervisory Board, BOD,
and Committees under the BOD
2 Organizational Structure BFI Finance has an organizational structure consisting of None
directorates, divisions, departments, and work functions/
units with clear division of duties, responsibilities, and
authorities. It support businesses and operational
activities as well as internal control implementation.
3 Policies and Procedures BFI Finance has policies and procedures consisting None
of the Board Manual for the BOC and the BOD, Audit
Committee Charter, Risk Oversight Committee Manual,
Nomination and Remuneration Committee Manual,
Sharia Product and Business Activity Development
Committee Charter, Risk Management Committee
Charter, IT Steering Committee Charter, Internal
Audit Charter, Code of Business Principles, Company
Regulations 2024–2026, Operational Commitments,
Company Core Values and Employee Behavior Guidelines
(G.R.E.A.T. and BFI New Mindset), and Information
Technology (IT) Procedures and Policies
4 Information System BFI Finance runs a Management Information System None
(MIS) and Power Business Intelligence (Power BI) to
support operational and business activities as well as
internal control system.
B Governance Process
1 Execution of Duties and In general, the duties and responsibilities of the BOC, the None
Responsibilities BOD, and Committees under the BOC and the BOD have
been satisfactorily executed.
2 Human Capital BFI Finance has improved the headcount and quality of None
human capital by intensifying training and focusing on
workforce availability and adequacy.
3 Risk Management BFI Finance regularly reviews risk limit, risk measuring, None
monitoring and control, and internal model assessment
of risk management.
4 Customer Complaint BFI Finance manages and resolves customer complaint None
according to the stipulations of the SLA.
5 Compliance and Discipline BFI Finance continuously upholds discipline and None
Cultures compliance culture in all organizational levels by
establishing the Integrity Pact to increase legal
enforcement, to carry out anti-fraud policy and
Whistleblowing System, to apply G.R.E.A.T. and BFI New
Mindset as the Company Core Values, and to strengthen
the Internal Control System.
6 CSR BFI Finance has carried out CSR as part of its business None
process.
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No. Aspect Positive Factors Negative Factors
C Governance Result
1 Recommendations from the Recommendations from the BOC and the Committees None
BOC and Committees under under the BOC are documented in the meeting minutes
the BOC and serve as input and considerations for the BOD in
making a decision.
2 Conflict of Interest There is no indication of any conflict of interest that bring None
losses to the Company.
3 Information Disclosure to the BFI Finance has disclosed its financial and non-financial None
Public information to public transparently, including through
quarterly financial statements, mid-year financial
statements, annual financial statements, and Integrated
Annual Report (consisting of Annual Report and
Sustainability Report).
4 Company Performance BFI Finance records growth and positive performance, None
as reflected in its growing assets and profit, and a well-
managed NPF.
SUSTAINABILITY GOVERNANCE
GCG implementation within BFI Finance takes into account Risks associated with implementing sustainable finance
Environmental, Social, and Governance (ESG) principles that programs are further discussed in the Risk Management
strengthen the foundation for sustainability governance section of this chapter, pages 147–150.
and sustainable development, which also comprise the
Company’s long-term vision.
Stakeholder Engagement
ESG practices within the Company throughout the
reporting period are presented in the Sustainability chapter,
BFI Finance categorizes its stakeholders into customers,
pages 158–179.
shareholders, suppliers, employees, business partners,
communities, and regulators. As part of its sustainability
Sustainable Finance governance, BFI Finance engages its stakeholders in various
ways.
For BFI Finance, sustainable finance is an important part of The Company builds transparent communication to create
the Company’s efforts to empower an inclusive and equal and maintain trust with each stakeholder. The Company
economy across all levels of Indonesian society, which will cultivates effective communication to discern their needs
have a substantial impact on the Company’s business. and expectations, resolve issues, mitigate impacts, and
The implementation of sustainable finance in the Company identify opportunities o deliver optimal benefits to all
is overseen by the Finance Directorate, with the Finance parties.
Director responsible for managing related programs and The various issues encountered while engaging
activities across the Company’s outlets. To support this stakeholders, including in implementing of sustainable
effort, the BOD actively improves its competence through finance, are presented in Table 51.
various trainings, including those focused on sustainability.
The BOD Competence Enhancement graph is presented on
page 136.
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Table 51 | Summary of BFI Finance’s Stakeholders Issues
Stakeholder
Engagement Method Issues Raised in 2024
Group
Customers Customer surveys, customer complaint Customer service access, product and service information
data, customer responses and explanations, the ServPrize program—which includes
comments through various Company monthly special visits to selected customers during
communication channels, including special moments, “BFI Close to You” program that
Customer Care services via hotline, encourages employee involvement in community
email, SMS, WhatsApp, live chat on the activities, SENSASI program that provides annual
website, and Company social media appreciation to BFI Finance’s top customers across
various regions in Indonesia, “Annual Treatment for
Customer” program as a creative way for branches to
provide special appreciation for new and repeat order
(RO) customers who applied for financing, “Treatment
Customer for Loyalty (TRULY)” program as a means for
branches to further reward RO customers who applied
for financing through Customer Service (CS), “Beware of
Scams!” campaign for customers, promotion of Payment
Points on the Company website, and continuous
information on customer instalment payments through
virtual accounts from partner banks
Employees Employee surveys, meetings with Strengthening the implementation of BFI New Mindset
employee representatives, email at all levels of employees, implementing BFI Culture
blasts, Leader’s Talk, Service Insight 2.0 along with a series of its main initiatives, expanding
Community (SIC), interactive employee the Regional Training Center (RTC) to various regions,
communication facilities through the continuous dissemination by experts on evolving issues
BELLA application, various training in cybersecurity
via offline and online channels such
as M-BEAT application as a facility for
employees for learning technical and
non-technical topics
Shareholders Quarterly and annual reports, meetings Business development, good governance and
with investors, potential investors, and accountability, business financial soundness
analysts, AGMS and EGMS
Suppliers Engagement based on contract, Continuity of supply, level of performance and
performance review production, timeliness
Business Engagement based on contract, Performance, timeliness, contract evaluation
Partners performance appraisal
Public forums and training programs, Support to community’s socioeconomic and
annual public expose to the mass environmental aspects, acceleration of financial literacy
media, partnerships with community education and financial inclusion by supporting the
institutions, the Company’s active National Financial Literacy Movement (GENCARKAN in
participation in activities aimed at Indonesian abbreviation) launched by OJK, Company
financial literacy education and financial performance reporting in a more disciplined and timely
inclusion in various regions of Indonesia manner
Regulators Regular meetings (including webinars Compliance, information disclosure, business
and FGDs), survey filling, routine and ad development, good governance and accountability,
hoc reporting business financial soundness
The Company further engages its stakeholders by becoming a member of relevant external organizations aligned with its
goals.
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Governance Statements
GENERAL MEETING OF SHAREHOLDERS
The GMS is a governance body of the Company that Shareholders’ Rights
possesses certain powers not granted to the BOC or the
BOD within the limits prescribed by the laws and/or the The shareholders have the right to propose the agendas
articles of association. for every GMS that will be held by the Company, propose
The GMS is a forum for shareholders to influence the the appointment of members of the BOC and/or the BOD
Company, as well as a forum for the BOC and the BOD to of the Company, especially for measures that require
report and be held accountable for the implementation of prior approval of the shareholders in accordance with the
their tasks and performance to the shareholders. prevailing regulations.
The GMS consists of the Annual GMS (AGMS) and the
Extraordinary GMS (EGMS), which are held in accordance 2024 GMS Implementation
with the articles of association and the prevailing
regulations. In 2024, BFI Finance held 1 AGMS and 1 EGMS.
The convening of the AGMS and EGMS (collectively referred
GMS Authority to as the GMS) was conducted in accordance with the
procedures stipulated by the OJK, with the following
The GMS has the authority, among other things, to: activities:
1. Notification of the GMS plan and agenda to OJK via
1. Appoint and dismiss the members of the BOC and
letter on 26 March 2024;
the BOD based on policies/guidelines established by
2. Announcement of the AGMS plan to shareholders on 3
shareholders;
April 2024;
2. Ratify or decide on issues that are necessary to
3. Invitation to the GMS for shareholders through an
safeguard the long-term and short-term interests of the
announcement on 26 April 2024;
Company in accordance with the prevailing regulations
4. Execution of the GMS on 22 May 2024;
and/or the articles of association;
5. Submission of the GMS minutes to OJK on 27 May 2024;
3. Approve the annual report including financial
and
statements, and approve the BOC’s supervisory duties
6. Announcement of the summary of the GMS minutes on
in accordance with the prevailing regulations and/or the
28 May 2024.
articles of association;
4. Set targets and assess the performance of the BOD and The summary of the AGMS and the EGMS is accessible
the BOC; at https://www.bfi.co.id/en/corporate/Investor-Relations/
5. Determine remuneration for the BOC and the BOD; General-Meeting-of-Shareholders/Announcement-of-the-
6. Appoint the external public accounting firm; Extraordinary-General-Meeting-of-Shareholders-2024.
7. Approve or reject the Company’s work plan and budget, All 2024 GMS decisions, as summarized in the following
and the long-term work plan; table, were fully implemented in 2024.
8. Make decisions through a process that is open, fair, and
accountable; and
9. Implement GCG in accordance with its authority and
remits.
Table 52 | Implementation of 22 May 2024 AGMS Resolutions
Implemented (Y)
Resolution
Not implemented (N)
To accept and approve the Company’s Annual Report for the financial year ending 31 Y
December 2023
To accept and ratify the Company’s Financial Statements for the financial year ending Y
31 December 2023, as audited by the Public Accountant Firm “Tanubrata Sutanto Fahmi
Bambang & Rekan” whose Report Number: 00007/3.0423/AU.1/09/1042-2/1/II/2024 expressed
“Unmodified” opinion, thus granting the release and discharge (acquit et de charge) to the
BOD and the BOC relating to their duties of management and supervision conducted during
the financial year 2023, provided that such actions are reflected in the Company’s Annual
Report for the financial year 2023 and not in conflict with statutory regulations
To accept and ratify the Duties and Supervisory Report of the Company’s BOC for the financial Y
year ending 31 December 2023
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Implemented (Y)
Resolution
Not implemented (N)
To approve the use of the Company’s net profit for the financial year ending 31 December Y
2023, amounting to Rp1,643,799,000,000 (one trillion six hundred forty-three billion seven
hundred ninety-nine million rupiah) with the allocation as follows:
a. The amount of Rp5,000,000,000 (five billion rupiah) from the net profit which can be
attributed to the owners of the Company’s parent entity as mandatory reserves, pursuant
to the Company’s Articles of Association and the Company Law No. 40/2007;
b. As the final cash dividends of Rp55 (fifty-five rupiah) per share of the Company’s net
profit, including the Rp28 (twenty-eight rupiah) per share that have been distributed as
interim dividends and paid on 21 December 2023, so that the remaining dividends to be
distributed will be Rp27 (twenty-seven rupiah) per share. The remaining final dividends
will be distributed to the Company shareholders listed in the Register of the Company
Shareholders on 5 June 2024, at 16:00 WIB, and will be paid to the Company shareholders
on 21 June 2024;
c. The remaining balance of the 2023 net profit will be booked as Retained Earnings to
strengthen the Company’s capital
To give power and authority to the Company’s BOD with substitution rights to execute the Y
utilization of net profit as mentioned above, including to set up the schedule and procedures
of cash dividends distribution to the Company shareholders, and to attend and meet the
authorities, one way or another without any exception, including the procedure for taking
dividends that have been included in special reserves
To authorize the Company’s BOC to appoint a Public Accountant and/or a Public Accountant Y
Firm registered with the OJK to audit the Company’s Financial Statements for the financial
year ending 31 December 2024, and to authorize the Company’s BOC determine the amount
of honorarium and other requirements relating to the appointment by taking into account
the proposals from the Company’s Audit Committee
To establish the remuneration of the BOC with the total amount of Rp246,320,000 (two Y
hundred forty-six million three hundred twenty thousand rupiah) per month after tax for the
financial year 2024 and to give bonuses to the BOC for the financial year 2023 amounting to
Rp1,680,000,000 (one billion six hundred eighty million rupiah)
To delegate the authority to the BOC in determining the amount for each member of the Y
BOC and to adjust the total amount of remuneration in the event of changes in the number
of members of the BOC in the financial year 2024 by taking into account recommendations
from the Nomination and Remuneration Committee
To approve the provision of power and authority to the BOC in determining the division of Y
duties and authorities to each member of the BOD as well as to determine the remuneration
for the members of the BOD
The accountability report on the use of proceeds from the Continuous Public Offering Y
of Obligasi Berkelanjutan V BFI Finance Indonesia Tahap V Tahun 2023 after deducting
issuance costs has been used in accordance with the plan for the use of funds set forth in the
Prospectus
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Table 53 | Implementation of 22 May 2024 AGMS Resolutions
Implemented (Y)
Resolution
Not implemented (N)
Approval to transfer and/or pledge more than 50% of the Company assets in 1 (one) or more Y
transactions, whether in relation to each other or not that occur within a period of 1 (one) financial
year or more, including to obtain loans from banks and non-banks, issue Bonds and Medium Term
Notes (MTN), conduct financing cooperation with banks and non-banks, securitization, and obtain
loans from various other funding sources in the Company’s normal course of business activities
Approval to grant power and authority to the BOD of the Company to perform the above actions, Y
including to obtain loans from banks and non-banks, issue Bonds and Medium Term Notes (MTN),
conduct financing cooperation with banks and non-banks, securitization, and obtain loans from
various other funding sources in the Company’s normal business activities, by taking into account
the terms and conditions in the applicable laws and regulations, especially the Capital Market
regulations
To approve the reappointment of Sudjono and Sutadi as Directors respectively, with an effective Y
term of office starting from the closing of this Meeting up to the closing of the next 3rd (third) AGMS
To approve the appointment of Goklas as the Company’s Director, effective as of the closing of this Y
Meeting and after obtaining approval from the relevant Regulator, up to the closing of the next 3rd
(third) AGMS
To establish the composition of the members of the Company’s BOD, BOC, and Sharia Supervisory Y
Board as of the closing of this Meeting up to the closing of the AGMS in accordance with their
respective terms of office as follows:
BOARD OF COMMISSIONERS
President Commissioner : Kusmayanto Kadiman (2021–2026)
Independent Commissioner : Johanes Sutrisno (2021–2026)
Independent Commissioner : Alfonso Napitupulu (2021–2026)
Commissioner : Sunata Tjiterosampurno (2020–2025)
Commissioner : Saurabh Narayan Agarwal (2023–2028)
BOARD OF DIRECTORS
President Director : Francis Lay Sioe Ho (2021–2026)
Director : Sutadi (2024–2027)
Director : Sudjono (2024–2027)
Director : Andrew Adiwijanto (2022–2027)
Director : Goklas* (2024–2027)
* Effective upon obtaining approval from the relevant Regulator
SHARIA SUPERVISORY BOARD
Chairman : Asrori S. Karni (2022–2027)
Member : Helda Rahmi Sina (2022–2027)
To grant power and authority to the Company’s BOD with substitution rights to declare changes Y
to the members of the BOD and/or the BOC in a separate notarial deed and arrange a notification
and a registration to relevant authorities, as well as perform all necessary actions in accordance
with the prevailing legislation in connection with the Meeting agenda resolutions
2023 GMS Resolutions EGMS in 2025 Prior to the Publication of the Audited
Financial Statements
During 2023, BFI Finance held 1 AGMS and 1 EGMS, both
on 16 May 2023. All decisions of the AGMS and EGMS were On 30 January 2025, prior to the date of publication of
fully implemented in 2023, as reported at https://www.bfi. the audited financial statements for FY 2024, BFI Finance
co.id/en/corporate/Investor-Relations/General-Meeting- conducted one EGMS in relation to the changes to certain
of-Shareholders/Announcement-of-the-Extraordinary- members of the BOC and BOD of the Company. The
General-Meeting-of-Shareholders-2023. resolutions of the EGMS are reported at https://www.bfi.
co.id/en/corporate/Investor-Relations/General-Meeting-
of-Shareholders/Announcement-of-Resolutions-the-
Tallying of Votes at the GMS by Independent Parties
Extraordinary-General-Meeting-of-Shareholders-2025.
The tallying of votes for the 2024 AGMS and EGMS was
carried out through the KSEI system as the e-GMS provider,
accompanied by a physical tallying of votes by the Share
Registrar and witnessed by a Notary.
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BOARD OF COMMISSIONERS
The Board of Commissioners (BOC) of BFI Finance is The profile of each BOC member is presented in the BOC
responsible for overseeing the Company’s operations, Profile section in the Company Profile chapter, pages 63–65.
providing advice to the BOD, and ensuring the In 2024, the BOC carried out the following duties, including:
implementation of GCG. Supervision is carried out 1. Held 11 BOC Meetings;
collectively at two levels: performance (providing advice 2. Held 11 Joint Meetings between the BOC and BOD;
and submitting proposals) and conformance (compliance 3. Approved the appointment of the Public Accounting
with regulations). The BOC also monitors the annual Firm (KAP in Indonesian abbreviation) for the 2024
report, follow-up on audit findings, and all aspects of the financial year;
Company’s business. 4. Approved the Company 2025 operational plan; and
BOC members are appointed through the GMS for a five- 5. Approved the BOD’s proposed 2025 budget.
year term and may be dismissed if they fail to perform The BOC provided the following recommendations in 2024:
their duties in accordance with the Articles of Association. 1. Proposals for the nomination of internal Company
Reappointment is based on a performance evaluation officials;
conducted by the Nomination and Remuneration 2. Proposals for remuneration for the BOD and BOC;
Committee, which provides recommendations for the GMS 3. Determination of the KAP;
decision. 4. Follow-up on the KAP recommendations;
BOC members must meet the requirements of integrity, 5. Proposal for the allocation of profits from the 2023
legal capacity, a good track record, and relevant expertise. financial year;
They must not have been involved in financial crimes or 6. Proposals on strategic matters related to the Company
violations of OJK regulations. Independent Commissioners business activities; and
are also required to comply with additional independence 7. Approval of BOD actions as stipulated in the Company
requirements. Articles of Association.
The composition of the BOC as at the end of 2024 was as
follows:
1. President Commissioner: Kusmayanto Kadiman
2. Independent Commissioner: Johanes Sutrisno
3. Independent Commissioner: Alfonso Napitupulu
4. Commissioner: Sunata Tjiterosampurno
5. Commissioner: Saurabh Narayan Agarwal
Throughout 2024, there were no changes to the
composition of the BOC.
Changes to the BOC composition occurring after the end
of the 2024 financial year and before the submission of this
integrated annual report, based on the EGMS on 30 January
2025, are as follows:
1. President Commissioner: Francis Lay Sioe Ho*
2. Independent Commissioner: Johanes Sutrisno
3. Independent Commissioner: Alfonso Napitupulu
4. Commissioner: Sunata Tjiterosampurno
5. Commissioner: Saurabh Narayan Agarwal
* Effective no sooner than six months from the closing of this Meeting
and upon obtaining approval from the relevant Regulator. If approval
from the relevant Regulator is obtained beyond six months from this
Meeting, the appointment will become effective as of the date of the
relevant Regulator’s approval.
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The BOC also continuously enhances its competences and, in 2024, participated in training and competence
enhancement programs, including:
Graph 12 | BOC Competence Enhancement
Webinar on “Opportunities and Challenges of Digital Assets in
National Seminar on “Financing Challenges in 2024”
Indonesia”
APPI - Jakarta OJK - Jakarta
30 January 14 March
Johanes Sutrisno
Kusmayanto Kadiman
Alfonso
Napitupulu
International Seminar on “The Fed’s Interest and Enhancing Webinar on “Understanding the Climate Landscape for
Market Share through Technologies Transformation” Financial Institutions”
6 August APPI - Jakarta 26 September OJK - Jakarta
Sunata Saurabh
Tjiterosampurno Narayan Agarwal
Risk & Governance Summit 2024 “Strengthening the GRC
Ecosystem in the Financial Sector to Support the Golden
Indonesia 2045 Vision”
OJK - Jakarta
26 November
Johanes Sutrisno
More detailed information on the BOC is presented in the Corporate Data chapter, pages 190–195.
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BOARD OF DIRECTORS
The Board of Directors (BOD) of BFI Finance has the full In 2024, there was a change in the BOD composition with
responsibility for managing the Company in the best the appointment of Transformation Director Goklas by
interest of the Company and its objectives, as well as shareholders at the EGMS on 22 May 2024.
representing the Company both in and out of court in all Changes to the BOD composition occurring after the end
matters and circumstances. of the 2024 financial year and before the submission of this
BOD members are appointed by shareholders in the integrated annual report, based on the EGMS on 30 January
GMS for a term lasting until the closure of the fifth AGMS 2025, are as follows:
thereafter and may be dismissed by the GMS at any time 1. President Director: Sutadi*
before their term of office ends. 2. Finance Director: Sudjono
The Company’s BOD members come from diverse 3. Transformation Director: Goklas
backgrounds to ensure optimal performance. As a * Effective upon obtaining approval from the relevant Regulator, while
membership requirement, they must comply with Capital still serving as a Company Director and concurrently acting as the
Market regulations and possess good character, morality, Interim President Director of the Company.
and integrity. They must also be legally competent, have The details on the division of duties and responsibilities
a clean track record, and be committed to regulatory of each BOD member are presented in Table 83 in the
compliance, relevant expertise, and an understanding of Corporate Data chapter, pages 196–206.
legal aspects related to financing companies. Additionally,
they must have the knowledge, experience, and ability to The profile of each BOD member is presented in the BOD
make strategic decisions to ensure the healthy growth of Profile section in the Company Profile chapter, pages 66–68.
the Company. In 2024, the BOD held 12 BOD Meetings and attended 11
The composition of the BOD as at the end of 2024 was as Joint Meetings with the BOC.
follows: As part of the efforts to develop competencies in managing
1. President Director: Francis Lay Sioe Ho the Company professionally, in 2024 the BOD participated
2. Business & Asset Management Director: Sutadi in the following training and competence enhancement
3. Finance Director: Sudjono programs:
4. Operations Director: Andrew Adiwijanto
5. Transformation Director: Goklas
Graph 13 | BOD Competence Enhancement
Webinar on “The Role of the P2SK Law in Providing a Deterrent
National Seminar on “Financing Challenges in 2024”
Effect for Illegal Financial Services Actors”
30 January APPI - Jakarta 15 February OJK - Jakarta
Francis Lay Sioe Ho Francis Lay Sioe Ho
Sutadi Sudjono
Andrew Adiwijanto Andrew Adiwijanto
Webinar on “Economic and Financial Outlook in 2024” Webinar on “Opportunities and Challenges of Digital Assets in
Indonesia”
22 February OJK - Jakarta 14 March OJK - Jakarta
Francis Lay Sioe Ho
Sutadi
Sudjono
Goklas * Not attended any training/seminars/webinars during the period November-December 2024. His position as
Director was effective since the issuance of the OJK BOC Decree Number: KEP-462/PL.02/2024 dated 29 October
2024 on the Results of the Fit and Proper Assessment of Goklas as a Candidate for Director of PT BFI Finance
Indonesia Tbk.
* Appointed Director based on the resolution of the EGMS 22 May 2024
In carrying out its duties and responsibilities, the BOD is assisted by three BOD Committees: the Sharia Product and
Business Activity Development Committee, the Risk Management Committee, and the Information Technology Steering
Committee.
More detailed information on the BOD and its Committees is presented in the Corporate Data chapter, pages 196–206.
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SHARIA SUPERVISORY BOARD
The Sharia Supervisory Board (SSB) of BFI Finance was 4. Act as a mediator between the Company and the
established as a form of the Company’s compliance, which National Sharia Board in presenting proposals and
as part of its business operations runs sharia financing recommendations for the development of the
businesses through the Sharia Business Unit (SBU). The Company’s products and services which require the
establishment of the SSB was based on the Decision of the study and fatwa of the National Sharia Board.
EGMS on 25 October 2017. The composition of the SSB as at 31 December 2024 was as
The SSB has the following main duties and functions: follows:
1. Represent the National Sharia Board assigned to the 1. Chairman: Asrori S. Karni
Company; 2. Member: Helda Rahmi Sina
2. Supervise business activities of the Company’s Sharia Both members of the SSB have passed the OJK’s fit and
Representative Branches, to ensure compliance with proper assessment. Their profiles are presented in the
Sharia Principles; Sharia Supervisory Board Profile section in the Company
3. Advise and facilitate the BOD, Head of SBU, and Heads Profile chapter, on pages 69–70.
of Sharia Representative Branches in matters related to Both members of the SSB as at 31 December 2024 have
Sharia Principles; and complied with the provisions of Article 35 of POJK No. 30/
POJK.05/2014 on Good Corporate Governance for Financing
Companies (POJK 30) on concurrent positions of SSB
members.
Table 54 | SSB Composition
Name Asrori S. Karni Helda Rahmi Sina
Position Chairman Member
Country of Residence Indonesia Indonesia
Legal Basis and Date of Deed of the EGMS Minutes No. 17 dated Deed of the EGMS Minutes No. 17 dated
Appointment 29 June 2022 29 June 2022
End of Term 2027 GMS 2027 GMS
Number and Date of the Decree of the Board of Commissioners Decree of the Board of Commissioners
Decree of the Fit and Proper of OJK No. KEP-104/NB.22/2017 dated 27 of OJK No. KEP-105/NB.22/2017 dated 27
Assessment Results December 2017 December 2017
Concurrent Positions • Chairman of the SSB of PT Sinar Mitra • Chief of Strategic Alliance at Hurriyah
Sepadan (SMS) Finance Global Consulting Firm (HGC Firm)
• Member of the SSB of PT Indomobil • General Secretary of Yayasan
Finance Indonesia (IMFI) Pendidikan Fatahillah Jakarta (YPFJ)
• Deputy Secretary–General of • Postgraduate Program Lecturer at
Indonesian Ulema Council (MUI) Sekolah Tinggi Ilmu Ekonomi Indonesia
Headquarters (STEI) Rawamangun, East Jakarta
• Lecturer of Sharia Economic Law • Faculty Member of Indonesian Banking
Study Program at Sharia and Law Development Institute (Lembaga
Faculty of the State Islamic University Pengembangan Perbankan Indonesia/
(UIN) Syarif Hidayatullah Jakarta LPPI)
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Members of the SSB have no financial and family relationships to the second degree with fellow SSB members, BOD
members, BOC members, and/or Controlling Shareholders, or relationships with the Company.
Table 55 | SSB Independence
Financial Relationship with Family Relationship with
Controlling Controlling
Name Commissioners Directors Commissioners Directors
Shareholders Shareholders
Yes No Yes No Yes No Yes No Yes No Yes No
Asrori S. Karni - √ - √ - √ - √ - √ - √
Helda Rahmi Sina - √ - √ - √ - √ - √ - √
In 2024, the SSB held six meetings, with details of the dates and attendance presented in Table 56. The SSB meetings were
held in accordance with the provisions of Article 40 of POJK 30.
Table 56 | Schedule and Attendance of SSB Meetings
Date Asrori S. Karni Helda Rahmi Sina
27 February 2024 √ √
18 March 2024 √ √
19 March 2024 √ √
3 July 2024 √ √
20 November 2024 √ √
9 December 2024 √ √
Total Attendance of Each Member 6 6
Attendance Percentage of Each Member 100% 100%
To enhance the competence of SSB members, the Company encourages their continuous participation in various training
programs and seminars.
The list of training programs and seminars attended by SSB members in 2024 is listed in Graph 14.
Graph 14 | SSB Competence Enhancement
Welfare Program 2024
National Webinar on “Development and Strengthening of Digital
“Socialization, Literacy, and Human Resource Development by
Financial Ecosystem in Indonesia”
Indonesian Ulema Council - 3rd Wave Basic Muamalah Training”
Ikatan Sarjana Majelis Ulama Indonesia
22 July Ekonomi Indonesia 9-16 August (MUI) - Jakarta
(ISEI) -Jakarta
Helda Rahmi Sina Asrori S. Karni
International Islamic Finance Certification
HiBF | HGC Firm -
29-30 August Kuala Lumpur,
Malaysia
Helda Rahmi Sina
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Welfare Program 2024 National Webinar on “Circular Economy: Responsible Economic
“Socialization, Literacy, and Human Resource Development by Development”
Indonesian Ulema Council - 1st Wave Sharia Supervisor Training”
2-8 Majelis Ulama Indonesia 30 Ikatan Sarjana
September (MUI) - Jakarta September Ekonomi Indonesia
(ISEI) -Jakarta
Asrori S. Karni Helda Rahmi Sina
AUDIT COMMITTEE
The Audit Committee was established in 2000 to support • Friso Palilingan attended eight trainings/seminars, as
the BOC in supervising the Company’s management, with follows:
GCG principles and referring to POJK No. 55/POJK.04/2015 1. Webinar “PSAK Series – Issues in the Preparation and
(POJK 55). The Audit Committee is tasked with providing Presentation of Consolidated Financial Statements”,
opinions, identifying important issues, and carrying out 22 May 2024, held online from Jakarta by the
other duties as directed by the BOC. Indonesian Institute of Public Accountants (IAPI);
The Audit Committee’s work guidelines are summarized 2. PPL OJK Capital Market Sector Risk Management
in the Audit Committee Charter, which ensures the and Special Considerations in Auditing Financial
implementation of duties consistently, transparently, Statements in the Capital Market Sector and Sharia
and independently. This charter is prepared based on Capital Market, 5 June 2024, held in Jakarta by IAPI;
the provisions of POJK 55 and updated through several 3. Webinar “Financial Modeling and Strategic Decision
decisions of the BOC, most recently on 26 January 2021. This Making in the Financial Sector”, 27 June 2024, held
document is available on the Company website and covers online from Jakarta by IAPI;
the duties, responsibilities, and authorities of the Audit 4. Companion PPL for Mandatory PPPK PPL 2024 –
Committee. Batch 6, 31 July 2024, held in Jakarta by PPPK and
IAPI;
The Audit Committee consists of a minimum of three 5. Compulsory PPL for Public Accountants PPPK 2024
members, including one Independent Commissioner as – Batch 5, 1 August 2024, held in Jakarta by PPPK and
Chairperson and two members from outside the Company. IAPI;
Members must have high integrity, competence in 6. Webinar “KEPAP 2021: Code of Ethics 2021, Noclar,
finance and accounting, and understand the business and Independence in Audit Engagements, and Revisions
capital market regulations. They must also meet various to the Provisions of the Code of Ethics”, 5 September
requirements, such as not having an affiliated relationship 2024, held online from Jakarta by IAPI;
with a related party of the Company, not having shares 7. Webinar “Exploring Climate Change and Carbon
in the Company, and being willing to improve their Markets: Regulation, Incentives, and Carbon Tax
competence continuously. Strategies in Indonesia”, 2 October 2024, held online
The composition of the Audit Committee as at 31 December from Jakarta by IAPI; and
2024 was as follows: 8. PPL OJK IKNB Workshop on Implementation of PSAK
1. Chairman: Johanes Sutrisno (Independent 117, 15–16 October 2024, held in Jakarta by IAPI.
Commissioner) • Edy Sugito attended six trainings/seminars, as follows:
2. Member: Friso Palilingan 1. Cyber Security & Ransomware, 1 March 2024,
3. Member: Edy Sugito organized by IDX;
The composition was ratified through the BOC Decree No. 2. Continuous Education Program for the Board of
BOC/SK/I/2021-001, effective 26 January 2021. Commissioners of Securities Companies, 15 March
The profile of each committee member is presented in the 2024, organized by the Indonesian Association of
Audit Committee Profiles section in the Company Profile Securities Companies (APEI);
chapter, pages 70–71. 3. Economic Outlook & Strategic, 27 August 2024,
organized by CReco Consulting & Research;
In 2024, the Audit Committee held four meetings. 4. Coretax Implementation, 14 October 2024, organized
During the reporting period, members of the Audit by the Indonesian Issuers Association (AEI) and the
Committee attended the following training and seminars: Directorate General of Taxes;
5. Webinar “Geopolitical Risks & the Strategic
• Johanes Sutrisno as Independent Commissioner
Imperatives for Boards & C-suite”, 17 October 2024,
concurrently serving as Chairman of the Audit
conducted online by KPMG Asia Pacific Board
Committee attended two trainings/seminars as detailed
Leadership Centre (BLC); and
in Graph 12.
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6. Trump Victory: Global Risk & Impact to Indonesia, 2. Evaluated the performance of external auditors
2 December 2024, organized by the University of and provided recommendations to the BOC on the
Indonesia and CReco Consulting & Research. appointment of the external auditors;
3. Evaluated the compliance with rules and regulations
The Audit Committee submits periodic reports to the BOC
applicable to multifinance companies and public
and/or on any assignments given, as well as an annual
companies; and
report on the implementation of its activities, which is
4. Evaluated the internal control system and reporting of
disclosed in the Company’s Annual Report.
Internal Audit activities.
The tasks included in the Audit Committee’s work program
for 2024 were as follows:
1. Conducted the Audit Committee’s meetings every three
months;
RISK OVERSIGHT COMMITTEE
The Risk Oversight Committee was established in 2003 to 1. Banking Risk Management Competency Certificate,
assist the BOC in reviewing key risks in the Company’s risk Qualification 6, 7 February 2024, organized in Jakarta
register, ensuring that evaluations of new and emerging by the Risk Management Certification Agency
risks are conducted properly, and identifying necessary (BSMR);
follow-up actions. 2. Banking Risk Management Competency Certificate,
The Risk Oversight Committee’s work guidelines are Qualification 7, 21 February 2024, organized in Jakarta
outlined in the Risk Monitoring Committee Charter, by the Risk Management Certification Agency
which is prepared based on the provisions of POJK No. 28/ (BSMR);
POJK.05/2020 on the Assessment of the Soundness Level 3. Rotary District Conference D3410, 18 May 2024,
of Non-Bank Financial Institutions (POJK 28), POJK No. 44/ organized in Bandung (West Java) by Rotary
POJK.05/2020 on the Implementation of Risk Management International District 3410;
for Non-Bank Financial Institutions (POJK 44), and OJK 4. Digital and Risk Management in Insurance 2024
Circular No. 7/SEOJK.05/2021 on the Implementation of “Insuring Tomorrow: Navigating the Digital Frontier in
Risk Management for Financing Companies and Sharia Life Insurance”, 15–17 May 2024, organized in Bandung
Financing Companies (SEOJK 7). This charter has been (West Java) by the Indonesian Life Insurance
updated through several BOC resolutions, most recently on Association; and
13 May 2020. The document is available on the Company 5. “The Short Essay and Video Presentation Judge
website and outlines the duties, responsibilities, and on The 25th Indonesia Accounting Fair (IAF 2024)
authority of the Risk Monitoring Committee. Accounting Competition”, 2 March 2024, organized
in Jakarta by the Faculty of Economics and Business,
The Risk Oversight Committee consists of two members, Universitas Indonesia (FEB UI).
including one Independent Commissioner as the Chair and
one member. The Risk Oversight Committee’s work programs are aimed
at ensuring that the management had an early warning
The composition of the Risk Oversight Committee as at 31
system on the likelihood of risks that may affect the running
December 2024 is as follows:
of the Company, thus preventing the possibility of future
1. Chairman: Johanes Sutrisno (Independent surprises.
Commissioner)
The tasks included in the Risk Oversight Committee’s work
2. Member: Jono Effendy
program for 2024 were as follows:
This composition was ratified through the BOC Decree No.
1. Conducted quarterly meetings with the Company’s Risk
BOC/SK/VI/2021-0092, effective as at 15 June 2021.
Management Division and the BOD to discuss the risk
The profiles of each committee member are presented monitoring dashboard;
in the Risk Oversight Committee profile section in the 2. Ensured that the measures taken in the field of risk
Company Profile chapter, pages 72. management have been implemented properly; and
In 2024, the Risk Oversight Committee held two meetings. 3. Reviewed the risk management report on the
Company’s risk exposure evaluation, especially in the
During the reporting period, members of the Risk Oversight risk-related activities of multifinance companies, i.e.,
Committee participated in the following training and strategic risk, operational risk, assets and liabilities risk,
seminars: managerial risk, governance risk, funding risk, and
• Johanes Sutrisno, as an Independent Commissioner and financing risk, in accordance with POJK 28/2020, POJK
concurrently Chairman of the Risk Oversight Committee, 42/2024, and SEOJK 7/2021.
attended two trainings/seminars as detailed in Graph 12.
• Jono Effendy attended five trainings/seminars, as follows:
140 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
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Governance Statements
NOMINATION AND REMUNERATION COMMITTEE
The Nomination and Remuneration Committee was • The trainings/seminars attended by the Chairman
established in 2005 and is responsible to the BOC to assist and Members of the Nomination and Remuneration
the functions and duties of the BOC in relation to the Committee in 2024—namely Alfonso Napitupulu and
nomination and remuneration of the members of the BOD, Sunata Tjiterosampurno—are detailed in Graph 12.
BOC, and other Committees under the BOC. • Luki Sri Herlambang attended four trainings/seminars,
The work guidelines of the Nomination and Remuneration as follows:
Committee are summarized in the Nomination and 1. Seminar on Harmonization of Retirement Fund
Remuneration Committee Charter. Since 2015, this charter Programs: Understanding and Preparation, 10
has referred to the provisions in POJK No. 34/POJK.04/2014 October 2024, organized in Bandung (West Java) by
on the Nomination and Remuneration Committees of Manulife Indonesia;
Issuers or Public Companies (POJK 34). This document is 2. Seminar on Comprehensive Work Accident Insurance
available on the Company website and outlines the duties, Protection through EPLKK and Optimization of
responsibilities, and authority of the Nomination and Inclusive Job Center Empowerment, 21 November
Remuneration Committee. 2024, organized in Tangerang (Banten) by BPJS
The Nomination and Remuneration Committee consists of Ketenagakerjaan;
three members, including one Independent Commissioner 3. Webinar “Post–Perpres 59/2024, Status of PPU
as the Chairman and two members. Membership After Layoff”, 3 December 2024, held
online from Jakarta by BPJS Kesehatan; and
The composition of the Nomination and Remuneration 4. Financial Literacy Webinar “2025 Challenges and
Committee as at 31 December 2024 is as follows: Opportunities, Navigating through Wavy Seas”, 17
1. Chairman: Alfonso Napitupulu (Independent December 2024, held online from Jakarta by Manulife
Commissioner) Indonesia.
2. Member: Sunata Tjiterosampurno (Commissioner) The Nomination and Remuneration Committee shall report
3. Member: Luki Sri Herlambang (Compensation, Benefits the performance of its duties, responsibilities, as well as
& Rewards Head) the nomination and remuneration procedures, to the BOC
This composition was approved through the BOC Decree as part of the BOC performance report which shall be
No. BOC/IV/2021-0049, effective since 1 April 2021. submitted to the GMS. The nomination and remuneration
functions’ implementation shall be reported by the
The profiles of each committee member are presented in
Company in its Annual Report and website.
the Nomination and Remuneration Committee Profiles
section in the Company Profile chapter, pages 73. The work program of the Nomination and Remuneration
Committee in 2024 included evaluating the BOD proposals
In 2024, the Nomination and Remuneration Committee
regarding the determination of remuneration for the
held three meetings.
members of the BOD, BOC, and other Committees, to be
During the reporting period, the members of the submitted to the BOC.
Nomination and Remuneration Committee attended the
following training and seminars:
I joined BFI Finance right after graduating from university, and my career
has continued to grow with the support and opportunities provided by
the Company. I have been involved in various projects, and most notably,
I played a part in the Company’s digital transformation initiative. The
work culture here is professional, collaborative, and open to innovation,
as well as to the opinions and contributions to the growth of the
Company. It is my aspiration that in the coming years, BFI Finance will
continue to create more opportunities for employees to accelerate their
careers with skills that are relevant to today’s trends in the workplace.
Afnie Dwiputri
Business Process Development Head – PMO
Head Office
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About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
CORPORATE SECRETARY
BFI Finance’s Corporate Secretary was established pursuant 2. Provide input to the Company’s BOD and BOC to ensure
to the BOD Decree No. Corp/CH/L/VII/07-0115 dated 9 July their compliance with applicable laws and regulations in
2007 to facilitate effective communication between BFI the capital market;
Finance and the shareholders, OJK, and other stakeholders, 3. Assist the BOD and the BOC in the implementation of
including investors. GCG, which includes:
As part of its function, in accordance with POJK No. a. Information disclosure to the public, including
35/POJK.04/2014 on Corporate Secretary of Issuers or ensuring the information availability on the website;
Public Companies (POJK 35), the Corporate Secretary b. Timely report submission to OJK, IDX, and other
is responsible for the implementation of GCG, the regulatory institutions;
preparation of management reports as well as other c. GMS and the documentation thereof, including
secretarial activities, legal handling, public relations, quality preparation (reporting of GMS plan, announcement,
management system, and information management distribution of summons, and GMS resolutions
system. Any information disclosed by the Corporate submission), GMS material preparation (including the
Secretary to the public is considered as the official Company Annual Report), and GMS execution;
Company information. d. Arrangement and documentation of the BOD and
the BOC Meetings; and
Corporate Secretary is an individual position and is e. Organization of the Company’s induction program
responsible for work units that carry out the functions of for new members of the BOD and the BOC as well as
Corporate Secretary, including: other Committees under the BOC;
1. Corporate Secretariat Department, led by a Head of 4. Act as a liaison officer between the Company and its
Corporate Secretariat; shareholders, OJK, and other stakeholders.
2. Corporate Communication, CSR & Corporate Program
Duties carried out by the Corporate Secretary in 2024
Development and Management (CPDM) Department,
include:
led by a Head of Corporate Communication, CSR &
CPDM; and 1. Provided input to the BOD and the BOC regarding
3. Investor Relations, which maintains communications capital market developments, including new regulations
with the investors of the Company. in the capital market issued by OJK and IDX;
2. Maintained rapport with Capital Market Authority
The Corporate Secretary is appointed and dismissed by
and prepared reports on the Company’s information
the BOD decree. The position of Corporate Secretary may
disclosure pursuant to the applicable laws and
be held concurrently by a BOD member. The Corporate
regulations;
Secretary shall not hold any other concurrent position in
3. Published the Company information transparently,
other issuers or public companies.
which included information disclosure report on the
Requirements for the Corporate Secretary position are as GMS, periodic financial statements, annual report,
follows: sustainability report, public expose, share registration
1. Legally competent; statements, ad-hoc reports related to new development
2. Possess knowledge and understanding in the fields of plans, sustainable finance action plan (RAKB) for OJK, as
law, finance, and corporate governance; well as provided necessary information to shareholders;
3. Understand the Company business activities; 4. Sent notices and prepared all matters related to GMS
4. Able to communicate well; and and published the results;
5. Domiciled in Indonesia. 5. Coordinated and administered share ownership records
and corporate actions;
6. Prepared the BFI Finance 2023 Integrated Annual
Corporate Secretary Profile Report;
7. Implemented various CSR programs, externally and
The Corporate Secretary as at 31 December 2024 was held internally, through the CSR Unit in coordination with the
by Sudjono. He is an Indonesian citizen born in 1970, 54 Corporate Communication, CSR & CPDM Department;
years of age, who was appointed pursuant to the BOD 8. Maintained rapport with the media and other
Decree No. BOD-BOC/VI/2014-0011 dated 24 June 2014. He information channels;
is also a BOD member, serving as the Finance Director. 9. Coordinated the Company meetings and public
His profile is presented in the BOD Profiles section in the exposes, and prepared their minutes;
Company Profile chapter, page 67. 10. Coordinated corporate actions;
11. Corresponded with OJK 101 times and with IDX 60 times.
Corporate Secretary Duties and Responsibilities To enhance its competence, the Corporate Secretary
participated in training and seminars, as shown in Graph 13.
The duties and responsibilities of the Corporate Secretary More detailed information on the Company’s Corporate
pursuant to POJK 35 are as follows: Secretary is available on the Company website at https://
1. Follow the development of the capital market, www.bfi.co.id/en/corporate/Corporate-Good-Governance/
particularly regarding applicable laws and regulations Corporate-Secretary.
in the capital market and inform them to the BOC, BOD,
and other stakeholders of the Company;
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INTERNAL AUDIT
The Internal Audit provides independent and objective The Internal Audit Department has the authority to:
assurance and consulting internally for the Company. 1. Access all relevant Company information related to its
This department is directly accountable to the President duties and functions;
Director and has direct access to the Audit Committee to 2. Communicate directly with the BOD, the BOC, and/or
ensure that its duties are carried out independently. the Audit Committee as well as members of the BOD,
The Internal Audit Department was established on 31 March the BOC, and/or the Audit Committee;
2010 based on the Appointment Letter for the Company’s 3. Hold regular and incidental meetings with the BOD, the
Internal Audit Members. Its establishment is in line with BOC, and/or the Audit Committee; and
POJK No. 56/POJK.04/2015 on the Establishment and 4. Coordinate its activities with external auditors’ activities.
Guidelines for the Preparation of the Internal Audit Unit
Charter (POJK 56/2015).
The Internal Audit Department operates based on the Internal Audit Structure
Internal Audit Charter, which was established on 1 March
In the good corporate governance structure at BFI Finance,
2009 and reviewed on 26 January 2021. This charter covers
the Internal Audit Department is responsible for improving
the technical, operational, and ethical aspects for each
the Company’s operational processes through coordination
member of the Internal Audit Department.
with the Audit Committee, which is structurally
accountable to the BOC. The Internal Audit Department
Internal Audit Duties, Responsibilities, and is led by the Head of Internal Audit and must consist of at
Authority least ten members from within the Company. Therefore,
all staff of the Internal Audit Department are subject to
The duties and responsibilities of the Internal Audit function the Company’s regulations, including procedures for the
include: appointment, dismissal, and performance evaluation of
1. Prepare and execute the annual Internal Audit plan; Internal Audit members.
2. Examine and evaluate the implementation of internal The Head of Internal Audit is appointed and dismissed by
control and risk management systems in accordance the President Director with the approval of the BOC. If the
with the Company policies; Head of Internal Audit does not meet the requirements as
3. Examine and assess the efficiency and effectiveness an internal auditor and/or is not competent in performing
of finance, accounting, operations, human capital, their duties, the President Director may dismiss them with
marketing, information technology and other activities; the approval of the BOC.
4. Provide suggestions for improvements and objective
information about the activities examined at all levels of
management;
5. Prepare audit reports and report them to the President
Director and the BOC;
6. Monitor, analyze, and report on the implementation
of the followed up improvements that have been
suggested;
7. Cooperate with the Audit Committee;
8. Develop a program to evaluate the quality of Internal
Audit activities it carries out;
9. Carry out special examinations/audits if needed; and
10. Compile a ranking/scoring of audit results per branch
office to assess the level of compliance of each branch
office with the prevailing regulations, policies and other
provisions.
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About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
Graph 15 | Internal Audit Department Structure
Internal
Audit Head
Operational System & General
Audit Head Audit Head
Business & Asset Operational Assurance Data General Audit System Audit
Credit Management & Non-Retail Audit & Investigation Head Analytic Head
Audit Head Audit Performance
Business & Asset
Regional Audit QA Business & Credit Internal Control System Audit
Credit Audit Management
Audit Head Specialist Data Audit Specialist Analytic
Head Office Head Office
Specialist
Technology System Audit
Audit Audit Specialist Te
Analytic
Supervisor Performance Asset
& Tools Audit Management
Audit
Specialist
Non-Retail Audit Retail System Audit
Specialist Specialist Analytic
Audit
Audit Branch Development
Specialist
Internal Audit Qualifications An Internal Auditor is not allowed to carry out concurrent
duties as an executor of operational activities in the
In general, the qualifications for members of the Internal Company, except with written approval from the President
Audit Department include: Director and President Commissioner without reducing
1. Have integrity and professional, independent, honest, the Company’s internal control functions. In the event that
and objective behavior in carrying out their duties; there are double duties, if the department/work unit where
the party concurrently holds the position is being audited,
2. Have knowledge and experience on technical auditing
then the person concerned may not be involved in the
and other disciplines relevant to their field of work;
audit process.
3. Have knowledge of the laws and regulations in the
capital market sector and other related laws and
regulations; Internal Audit Code of Conduct
4. Have the skills to interact and communicate both
verbally and in writing effectively; 1. Integrity
5. Must comply with professional standards issued by the The integrity of Internal Auditors create trust so as to
Internal Audit association; bestow confidence on the conclusions drawn.
6. Must comply with the code of ethics of Internal Audit; 2. Objectivity
Internal Auditors demonstrate the highest level of
7. Obliged to maintain the confidentiality of the
objectivity and professionalism in retrieval, evaluation,
Company’s information and/or data related to the
and dissemination of information regarding the
implementation of the duties and responsibilities of the
activities or processes being audited. Internal auditors
Internal Audit, unless required by laws and regulations
carry out a balanced assessment of all relevant
or court decisions;
conditions and are not influenced by personal interest or
8. Understand the principles of good corporate
other parties’ interests in making a conclusion.
governance and risk management; and
3. Confidentiality
9. Willing to continuously improve their knowledge, skills Internal Auditors respect the value and ownership of
and professional abilities. information and data received and do not disseminate
Qualifications for the Head of Internal Audit are: such information and data without the approval of the
1. Provide an assessment of the adequacy and authorized parties.
effectiveness of the processes carried out by the 4. Competency
Company to control its activities and manage risks from Internal Auditors have the necessary knowledge,
its coverage areas; expertise and experience to carry out their functions.
2. Periodically provide information on the status and
results of the annual audit planning and adequacy of
resources; and
3. Obliged to take responsibility for the implementation
of his/her duties to the President Director and the BOC
through the Audit Committee.
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Profile of the Head of Internal Audit
He has served since 2014, based on the Company’s BOD Decree No. SK/BOD/VII/14-
009 dated 16 July 2014. He has worked at BFI Finance since 2005 as Audit Staff, then
appointed as Audit Team Leader in 2007, Audit Supervisor in 2010, General Audit
Unit Head in March 2011, and Field Audit Unit Head in August 2011. He obtained
his Bachelor of Economics in Accounting degree from the Islamic University of
Indonesia (UII) in 2004. He has been active as trainer in various training programs
for the Company employees since 2009, and has also participated in the following
competence development programs including:
• Basic Principles of Internal Audit by BFI Finance (internal)
• Fraud Detection by BFI Finance (internal)
• Middle-Management Development Program (MMDP) 1st Batch, by BFI Finance in
collaboration with Prasetiya Mulya Business School
Fledy Rizmara • Know Your Customer by BFI Finance (internal)
Indonesian Citizen • Problem Solving & Decision Making by BFI Finance (internal)
44 years old • Situational Leadership Training by BFI Finance (internal)
Jakarta, DKI Jakarta • Fraud Mitigation & Investigation Training by BFI Finance (internal)
• Training of Basic Certification Program – a training program by APPI for managerial
certification in the form of ‘Basic Financing Certification’ from PT Sertifikasi Profesi
Pembiayaan Indonesia (SPPI)
In carrying out their duties, the Head of Internal Audit 3. Monitoring the implementation of audit
led 209 internal auditors working at the Company as at 31 recommendations as agreed; and
December 2024. They comprised: 4. Regular meetings with the Audit Committee to discuss
1. General Auditors: 66 auditors; the Internal Audit work program and other matters
2. Field Auditors: 122 auditors; and related to findings in accordance with the Audit
3. Head Office: 21 auditors. Committee’s supervisory function.
The management has responded to the internal audit
findings. In the case of fraud that was uncovered, the
Activities and Follow-up on Audit Findings Company applied gradual penalties, starting from
reimbursement for the Company’s losses to termination of
The Internal Audit Department independently audits employment. The financial loss to the Company in 2024 was
financial aspects, monitors compliance with policies and less than 0.5% of its total revenue.
SOPs, and evaluates the effectiveness of the Company’s
internal control systems based on the Risk-Based Audit The Company’s internal audit team participated in the
concept established by the Risk Oversight Committee and following competence enhancement programs in 2024:
the Audit Committee. Findings that may cause harm are 1. Great Leader Program (GLP);
reported to both committees. To maintain independence 2. Leadership Development Program (LDP);
and objectivity, members of the Internal Audit Department 3. Assessment until the end of 2024; and
are not involved in operational responsibilities within work 4. Become Effective Leader.
units or business functions. Audits are conducted across
the head office and branches, covering financial audits,
compliance audits, and internal control audits.
The Internal Audit Department carried out the following
tasks in 2024:
1. Compilation of the 2024 annual audit work program and
evaluation of 2023 implementation;
2. Audit of work units at head office and branches, in the
form of 661 audits and 131,908 visits to branches, as well
as 12 audit jobs at the Head Office;
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Highlights and Analysis
INTERNAL CONTROL SYSTEM
The internal control system is part of an integrated business Overall, the Company maintains a tiered control system
process that ensures that all activities are carried out in covering the Company governance bodies, as follows:
accordance with the prevailing rules and support the 1. BOC: supervises and directs the Company’s
achievement of the Company goals, which include effective management process, financial report preparation, and
and efficient business activities, accurate and reliable risk oversight by applying the precautionary principle;
financial reporting, and prudent asset maintenance. 2. BOD: implements policies and work procedures in
accordance with applicable regulations, including risk
management and mitigation, determination of the
Financial and Operational Control Company’s strategic plans, and the division of duties
In controlling the financial aspect, the Company separates and authorities of each member of the BOD;
the function of recording transactions from the cash 3. Internal Audit: conducts audits and improves the
disbursement function. The Company also runs a tiered performance of internal control in various operational
budget approval mechanism that involves a check and re- and financial activities of the Company;
check process. 4. BOD: follows up on all audit findings based on the
In controlling the operational aspect, the Company Internal Audit report; and
assesses the level of compliance of each function with the 5. Audit Committee: assesses the implementation of
relevant policies and procedures implemented through activities and the results of audits conducted by the
the implementation of Guidelines for Business Principles, Internal Audit in order to provide recommendations for
operational guidelines, procedures, implementation improvements to the Internal Control System. The Audit
manuals, work instructions, and other reference Committee also ensures that there is a procedure for
documents. reviewing information issued by the Company and for
identifying matters requiring the attention of the BOC.
Internal Control System Components
Evaluation of Internal Control System’s Effectiveness
The internal control system consists of the following
components: Using the Internal Audit Department and according to
1. Control Environment the Audit Committee evaluation criteria, the Company has
evaluated the efficacy of the internal control system for the
The BOD and all employees must create and maintain a
Company financial reporting as at 31 December 2024.
work environment with a positive attitude, support the
internal control, and carry out sound management. The result of the evaluation of the internal control system’s
2. Risk Assessment efficacy contains recommendations on the results of
Each work unit must identify, analyze, and assess the internal and external audits as input for management
relevant risks in relation to its operational activities, both in taking corrective steps and improving policies and
within and outside of the Company. the internal control system, in order to support the
achievement of the Company objectives.
3. Control Activity
This activity is applied to the implementation of The BOC and the BOD concluded that up to 31 December
activities at every level and unit in the organizational 2024, the Company’s internal control system over its
structure of the Company, among others, by regulating financial reporting had been effective, and that this system
authority, authorization, verification, reconciliation, is adequate for the scope of business the Company is
appraisal of work performance, division of duties, and currently engaged in.
safeguarding of assets.
4. Information and Communication System
The Company prepares reports on its operational and
financial activities as well as compliance and compliance
with laws and regulations in a timely, accurate, clear and
objective manner.
5. Supervision
The Company assesses the quality of its internal control
system, including the Internal Audit function at each
level and unit.
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RISK MANAGEMENT
BFI Finance faced an increasingly complex risk landscape In response, for Cars Financing via the NDF channel, the
throughout 2024. In particular, the complexity of risks Company has optimized its scoring engine by integrating
sharply increased in the digital domain. This was driven by data on prospective customer quality obtained from
the Company’s deeper market penetration, facilitated by external sources. This resulted in more accurate credit risk
digitalization and the operation of a more agile and data- assessments, allowing the Company to screen customers
driven business model. more effectively, apply high-risk debtor segregation, and
implement automated e-KYC. These efforts enhanced
To address various threats to its business, particularly in
credit risk management while supporting growth in an
digital, the Company’s Risk Management Department had
increasingly competitive market. The majority (over 60%)
established the Anti-Fraud Unit responsible for preventing
of customers in this segment have low financing exposure
fraud, developing a negative list that includes individuals
with strong retention rates, ensuring greater portfolio
and problematic assets, and implementing e-KYC
stability.
(electronic Know Your Customer) to ensure the credibility
of each debtor. The Company remains committed to For Cars Financing via the DF channel, the Company
maintaining operational integrity in support of sustainable implemented a product portfolio diversification strategy
business growth. supported by intensive collaboration with dealers within
its business ecosystem. The Company provided capital to
As part of its digital transformation, BFI Finance integrates
select dealer showrooms, equipping them to expand their
risk management into every stage of technology
vehicle offerings. Both prospective customers and dealers
development. The Company has been implementing its
were classified into several categories based on the quality
Information Technology Risk Management policy, obtained
of their respective customer bases. Specific indicators were
ISO 27001:2018 certification for data security, and managed
used to monitor and manage credit risks in this segment,
risks related to critical applications.
particularly in regions showing some deterioration in
The Company also focused on managing specific risks financing quality.
associated with its financing products. Digitalization
The Motorcycles Financing segment via the NDF
innovations, product diversification, and partnerships with
channel was significantly impacted by the triple
strategic partners were continuously strengthened. This
financial phenomena mentioned earlier. As a result, an
approach ensures the sustainability of the Company’s
increasing number of prospective customers fell into
business while enhancing its competitiveness in the
the “High” and “Very High” financing risk categories.
multifinance industry.
To overcome this, digitalization became a key pillar of
the Company’s reinforced risk management initiatives.
The implementation of end-to-end processes improved
Risk Management Strategies and Performance in 2024 operational efficiency while minimizing risks associated
BFI Finance’s risk management strategies in 2024 were with transactions and credit portfolio management.
focused on mitigating both internal and external risks The scoring engine has been widely applied, supported
within the Company’s principal financing segments. by credibility data of prospective customers obtained
Specifically, these products include Cars Financing through externally, and the application of automated rules to
NDF and DF channels, and Motorcycles Financing through minimize potential fraud by ill-intentioned parties.
the NDF channel. By focusing on these key segments, BFI Overall, the structured approach to risk management
Finance anticipated external risks and adjusted its risk across all segments enabled BFI Finance to sustain its
management strategies based on the dynamics in the business growth alongside rigorous and sustainable
market, broader economic conditions, and technological risk management practices. Through risk management
innovations. initiatives tailored to market needs and customer
Both the Cars Financing and Motorcycles Financing segmentation, BFI Finance has further strengthened its
segments faced an increasingly challenging and riskier position in the multifinance industry.
business climate in 2024. Contributing to this situation were
the rising prevalence of online loan traps, online gambling,
and the “Buy Now Pay Later” unsecured loan schemes. 2024 Risk Matrix
These three phenomena, all rooted in the low financial
BFI Finance classifies various risks in its business based on
literacy among the public, caused the pool of prospective
POJK 42/2024, and maintains risk matrix describing the
customers and debtors with problematic credit histories
potential impacts and mitigation of each risk factor.
to grow larger. This situation necessitated multifinance
companies to conduct a stricter screening of debtors with
higher risk profiles.
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About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
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Table 57 | 2024 Risk Matrix
Potential Risk
No. Risk Type Source Mitigation
Impact Rating
1 Strategic Failure to set All business 1. Active supervision of BOC and BOD Middle-
Risk appropriate strategy and 2. Periodic evaluation and adjustment of Low
to achieve main operational strategic plans
objectives aspects
2 Operational Failure of internal Products 1. SOP preparation and implementation for Middle-
Risk and external and services; each work process to prevent violation Low
processes; business 2. Running of Operational Risk Management
disruption to processes; (ORM), Risk Quality Management, and
operational and operational Operational Risk Monitoring Units
financial processes; activities; 3. Running of Disaster Recovery Plan and
regulation issues; systems and Disaster Recovery Center
internal or external infrastructure; 4. Internal Audit monitoring
frauds reputation 5. Comprehensive awareness and fraud
prevention programs
6. Early warning indicators
3 Financing Failure of debtors Financial 1. Existence of policies and procedures to Middle-
Risk (Credit to fulfill their condition; determine target markets, credit approvals, Low
Risk) obligations to the reputation interest rate, rate limits, and exposures
Company; changes 2. Collection management
in external factors 3. Implementation of MIS to measure portfolio
performance
4. Quick and accurate problem detection and
problem solving
5. Stress test and early detection system
6. Portfolio diversification policies and customer
base
7. Implementation of data-driven analytics to
screen customers and ensure debtors’ quality
8. Leveraging of legal recourse to boost
effectiveness of collection and asset recovery
9. Loan loss provisions in accordance with SFAS
71
4 Market Risk Changes in market None 1. Hedging for all debts taken in foreign Middle-
prices of the currencies Low
portfolio positions 2. Disbursement of financing in rupiah
and administrative
accounts including
derivative
transactions
5 Liquidity Failure to service Financial 1. Effective management of cash flows Middle-
Risk obligations that condition; 2. Gathering and analysis of data and key Low
have come due reputation indicators
3. Management of liquidity, gaps, and pricing
6 Legal Risk Failure that may All business 1. Proper business conduct in financing in Middle-
result in legal and accordance with the prevailing regulations Low
weaknesses operational 2. Transparency in every financing provided
aspects 3. Review of every clause in the financing
document by the legal team
7 Compliance Non-compliance Financial 1. Proper business conduct in financing in Middle-
Risk with the prevailing condition; accordance with the prevailing regulations Low
regulations business 2. Timely fulfillment of obligations related to the
operations; authorities
reputation
8 Reputation Events that may Reputation 1. Collection and collateral execution activities Middle-
Risk create a negative ensured to be in line with ethics and the Low
perception on the prevailing regulations
Company 2. Civil and rapid handling of complaints from
debtors and the public
3. Monitoring of negative reporting from mass
media and social media, and providing
explanation as required
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Graph 16 | Map of Diversification of Financing by Managed Receivables
13.3%
Kalimantan 15.0%
Eastern Indonesia
(Sulawesi, Maluku, Papua)
20.0%
Sumatra
25.5%
Greater Jakarta
26.2%
Java, Bali & Nusa Tenggara
AML–CFT–CPF Implementation in the Risk and portfolio performance reporting. The database
Management System also incorporates the wider industry’s List of Suspected
Terrorists and Terrorist Organizations and Politically
Responding to the guidance and guardrails relating to Anti- Exposed Persons.
Money Laundering, Combating the Financing of Terrorism, 5. Comprehensive internal control system
and Counter-Proliferation Financing of Weapons of Mass The Company’s internal control system follows the Three
Destruction (AML–CFT–CPF) issued by the OJK, the Risk Lines of Defense approach: supervisory, control, and
Management Department has ensured that the Company’s management functions.
risk management framework is always attuned to the OJK’s
five principles for financial services institutions. • First Line of Defense
Business, operational, and transformation units are
Such framework covers the following: responsible for setting up its own internal control
1. Active supervision of the BOD and BOC mechanism, identifying, assessing, overseeing, and
mitigating risks. Their main responsibility is to manage
The BOD and BOC perform their respective duties in
risk exposure daily in accordance with established
relation to risk management. The BOC is assisted by
market targets, policies, and procedures.
the Risk Management Committee in approving the
Company’s risk management framework and policies. • Second Line of Defense
The BOC grants authority to the BOD to perform The Asset Management & Inventory Department,
business activities in line with the Company’s risk profile under the Business & Asset Management Directorate,
and risk appetite. conducts independent oversight, reviews and
approves strategies and acceptable risk levels, and
2. Adequacy of policies, procedures, and risk-limit setting
collaborates with business and operational units to
The Company’s risk management policies, procedures, ensure risks are managed within the established
and limits are regularly assessed to ensure their limits. The Financial Control Department, under the
adequacy as well as alignment with business activities Finance Directorate, manages and establishes the
and strategies, segment of new products and customers, overall budget along with acceptable risk levels,
and the regulations. These policies include authorization monitors their compliance, and oversees short-term
for credit transactions and accounts receivable loss and long-term funding sources as well as liquidity
reserve. positions based on the quality of the portfolio’s
3. Adequacy of identification, assessment, monitoring, and developments. The Legal & Litigation Unit, under the
risk control processes supervision of the Asset Management & Inventory
The Company maintains adequate mechanisms and Department, manages compliance risks related to
structures for risk management, from identifying risks legal matters and is responsible for ensuring that
all the way to mitigating them. The scope of these all applicable regulations are communicated and
mechanisms covers customers’ profile setting to adhered to by the relevant units.
customers’ obligation settlement. • Third Line of Defense
4. Risk management information system The Internal Audit Department periodically conducts
independent audit and assessment on each process
The Company’s risk management system draws from
undertaken by each unit on the first and second lines
its extensive database and is supported by internal
of defense.
procedures to improve the quality of risk management
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Highlights and Analysis
BFI Finance applies a comprehensive risk management system to ensure its business continuity, by managing each of the
risk factors in its operations. This risk management system is evaluated periodically to ensure effective implementation,
and is enhanced with new features and the latest standards to improve the risk management performance.
Graph 17 | Risk Management Structure
General Meeting
of Shareholders
Board of Commissioners
Risk Oversight Nomination &
Audit Committee
Committee Remuneration Committee
President Director
Business &
Transformation Operations Finance
Asset Management
Directorate Directorate Directorate
Directorate
Asset
Financial Control Management &
Internal Audit Risk Management Inventory
Legal & Litigation
Operational Risk &
NDF 4W Risk
APU-PPT
Risk Policy & Portfolio Multi Product Risk
Risk Data Science Credit Operations
NDF 2W Risk &
Anti-Fraud
Portfolio
Evaluation of Risk Management System 2025 Risk Management Focus and Development
Effectiveness in 2024 Plan
BFI Finance’s risk management team reports its risk profile In 2025, BFI Finance will focus its risk management
on a quarterly basis to the Risk Oversight Committee. This initiatives on adapting strategies that are more responsive
Committee supports the oversight function of the BOC, and geared to market dynamics and macroeconomic
which subsequently provides advice and direction to the challenges.
BOD regarding the improvement of the Company’s risk
To address the increasing risks from heightened
management system.
competition and regulatory changes, the Company will
The results of the self-assessment based on POJK 28/2020 tighten the selection process for prospective debtors based
and POJK 42/2024 in 2024 indicated that the Company’s on segmented risk profiles tailored to specific industries.
aggregate risk profile remained in the Medium–Low Risk This approach will be paired with a portfolio diversification
category up to the end of 2024. strategy, to reduce exposure to higher-risk segments.
The Company will bolster collateral management and
Based on the quarterly evaluations conducted by the
adjust financing schemes to be more flexible, particularly
Risk Oversight Committee and the self-assessment of the
to address fluctuating demand amid global economic
aggregate risk profile, it was concluded that the Company
pressures.
had implemented comprehensive and effective risk
management throughout 2024. Utilization of digital technology will continue to be
expanded, to enhance risk management performance
Considering these factors, both the BOD and the BOC,
at BFI Finance. Further development of end-to-end
through the Audit Committee, have stated that BFI
digitalization processes has been planned. The mobile
Finance’s risk management system in 2024 had been
application, launched at the end of 2024, will be enriched
appropriately designed and adequately implemented.
with new features and integrated with more accurate data-
Owing to an effective risk management system, amid a driven risk analysis. Several new digital systems to support
decline in the quality of financing portfolios and slowing risk management initiatives will be developed, initially on a
growth within the multifinance industry, the Company limited scale through a “live lab” concept, and upon proven
once again showcased its excellence through financial success, their implementation can be accelerated across
performance that was stronger than the industry average. the Company’s operations.
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LEGAL CASES
There were 56 ongoing legal cases faced by the Company as at the end of 2024. A total of 46 cases are taking place in
court, and the rest were being handled by the Consumer Dispute Settlement Agency (BPSK in Indonesian abbreviation).
Based on the assessment carried out by the Company, these cases and/or legal cases did not have significant/material
impacts on the Company’s business continuity, and were part of the Company’s routine activities. The total outstanding
principal from all these cases is Rp9.1 billion or 0.04% of the Total Managed Receivables recorded by the Company.
Table 58 | 2024 Legal Cases
Case Type Handling Institution Number of Cases BFI Finance’s Status
Consumer Dispute Local District Courts 46 As Plaintiff :-
As Defendant : 46
Others : None
BPSK 10 As Complainee : 10
Total 56
The Company has ensured that all of the above cases will have no significant or material negative impact on the
Company’s business continuity and they are part of the Company’s normal course of doing business.
ADMINISTRATIVE SANCTIONS
In 2024, the Company received 8 administrative sanctions from the OJK in its capacity as the regulator, comprising 2
written warnings and 6 fines.
Table 59 | Administrative Sanctions
Type of Sanction Description Occurrences
Fine Fine from OJK related to the submission of Debtor Reports and/or Corrections 4
to Debtor Reports through SLIK
Written Warning Written warning from OJK related to a delay in handling a customer complaint 1
Written Warning Written warning from OJK related to advertising materials in the marketing of 1
products and/or services
Fine Fine from OJK related to delays in fulfilling requests for clarification and/or 1
documents related to complaints indicating a dispute
Fine Fine from OJK related to delays in the 2024 Data Update Plan for the 1
Implementation of the AML-CFT-CPF Program in the Financial Services Sector
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INVESTOR RELATIONS
The Investor Relations function cultivates and maintains communication and relationships between BFI Finance and its
various stakeholders, specifically shareholders, potential investors, and analysts.
Through this function, the Company aims to update and engage the public of all key developments and material
information in a consistent and transparent manner. This is done through various channels, such as analyst meetings
(including public exposes), conferences, investor visits, and conference calls, as well as information delivered via the
Company’s official website.
Duties and Responsibilities
The Investor Relations Unit has the following duties and responsibilities:
1. To serve as a liaison between the Company and external stakeholders, especially the shareholders, potential investors
and government institutions related to capital market and investments;
2. To act as a coordinator in preparing the Company’s Integrated Annual Report;
3. To manage the reports’ publication process online, on the Company website, bfi.co.id; and
4. To act as the organizer, main coordinator, and supervisor of the Company’s various activities, such as GMS and Public
Expose.
Investor Relations Profile
She has been serving the function of Investor Relations since January 2011 and passed
the fit and proper test for foreign workers from OJK based on the Decree of the Board
of Commissioners of OJK No. KEP-860/NB.1/2014 dated 2 May 2014. Prior to joining BFI
Finance, she was a Vice President of Equity Capital Markets at CIMB Investment Bank
in Malaysia and Indonesia until 2009. She started her career as an Analyst for Nikkei
Pacific Corporate Advisors, Kuala Lumpur, in 2001 before joining General Electric’s
Financial Management Program from 2002–2004. She obtained her Bachelor of Arts
or B.A. (Hons) degree in Industrial Economics from the University of Nottingham,
UK, in 1999, and Master of Science (M.Sc.) in International Securities, Investment and
Banking from ISMA Centre of the University of Reading, UK, in 2000.
Koon Pek, Ng
Malaysian Citizen
47 years old
Jakarta, DKI Jakarta
Activities
The Investor Relations work programs in 2024 were as follows:
Table 60 | Investor Relations Activities in 2024
Type of Activity Total Activities
Analyst Meetings 4 times
Conferences 1 time
Investor One-on-One Meetings 68 times
Investor Group Virtual Meetings 1 time (total participants: 14)
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COMPLIANCE
The Compliance Unit at BFI Finance is led by the BOD 1. Active Supervision by the BOD and the BOC
under the direct supervision of the President Director. In a. Discussion of the AML-CFT-CPF framework
accordance with POJK 30, the Compliance Unit is tasked to and necessary follow-up actions, considering
assist the BOD in ensuring compliance with the applicable all regulatory requirements and the Company’s
regulations in the multifinance business as well as other strategy;
pertinent regulations. The unit’s main tasks are to oversee b. Update of the AML-CFT-CPF risk profile calculation
reference, based on the Sectoral Risk Assessment
policies, regulations, systems, procedures, and activities
(SRA) issued by the OJK.
of the Company, as well as to ensure compliance with the
applicable regulations. The Compliance Unit also has a 2. Policies and Procedures
strategic role in maintaining the Company’s operational a. Adjustment of employee and partner recruitment
policies, as well as debtor acceptance policies, by
sustainability and reputation, as well as participating in
adding filters for individuals associated with online
creating a transparent, compliant, and ethical business
gambling;
environment. b. Dissemination of policies and procedures related to
The Compliance Unit continuously monitoring changes in the implementation of AML-CFT-CPF program in
applicable regulations and policies, as well as evaluating each function in the Company; and
their impact on the Company’s operational activities. To c. Reporting of Cash Transactions and Suspicious
achieve this, the Compliance Unit works closely with various Transactions to PPATK through the GoAML
application.
departments to develop policies and procedures that
comply with applicable regulations and standards to ensure 3. Internal Control
the Company’s policies remain consistent and relevant in a. Collaboration with Internal Audit in the audit of
the face of changing business environments. policies and procedures in accordance with POJK
12/2017 and POJK 23/2019 as well as auditing the
In its operations, the Compliance Unit emphasizes three implementation of the Company AML-CFT-CPF
main functions, namely: policies and procedures; and
1. Prevention Function b. Data Updating program, for which the plans and
The Compliance Unit develops and implements various accomplishments have been reported to OJK.
policies, guidelines, and operational standards that 4. Management Information System
align with regulatory requirements. One of the ongoing a. Quarterly reporting of debtors’ data to PPATK
efforts is the dissemination of new laws and regulations through the SIPESAT application;
and continuous training for employees on compliance b. Identification and implementation of AML-CFT-CPF
issues such as Anti-Money Laundering, Combating “red flag tools” in accordance with the Circular of the
the Financing of Terrorism, and Counter Proliferation Head of PPATK No. SE-03/1.02/PPATK/05/15 on the
Financing of Weapons of Mass Destruction (AML-CFT- Indicators of Suspicious Financial Transactions for
CPF), consumer protection, Good Corporate Governance Financial Services Provider, for monitoring of Cash
(GCG) reporting, and financial transaction reporting. Transactions and Suspicious Transactions;
2. Detection or Supervision Function c. Testing of the strength of indicators in AML-CFT-CPF
The Compliance Unit conducts monitoring, compliance “red flag tools” to ensure that the Company is not
testing, and evaluation of the implementation of policies utilized as a means of money laundering;
across all lines of the Company, in order to identify d. Monitoring of Cash Transactions and Suspicious
potential violations earlier and provide appropriate Transactions on a regular basis to ensure that no
mitigation recommendations. cash transactions whose value exceeded Rp500
3. Handling Function million were reported late;
The Compliance Unit ensures appropriate follow-up e. Creating a Watchlist Database related to the
on findings or indications of violations in a professional implementation of AML-CFT-CPF Program from
and transparent manner. All investigative processes various data sources that are not only oriented
are conducted with fairness and independence as the towards domestic regulatory compliance, but also
primary principles. the interests of investors from the European Union
and the United States to identify the level of risk of
Debtors and Prospective Debtors;
Anti-Money Laundering, Combating the Financing f. Enrichment of the Politically Exposed Persons (PEPs)
of Terrorism, and Counter Proliferation Financing of Database by drawing on various sources;
Weapons of Mass Destruction (AML-CFT-CPF) g. Classification of SIPENDAR Database into the
Sanctions Lists Database as part of debtor screening
The AML-CFT-CPF unit is under the coordination and
process prior to issuance of financing contract, using
supervision of the Risk Management Department, which is
the Check and Validation (CNV) application;
directly responsible to the President Director.
h. Reporting of enrichment of information on parties
In 2024, this unit carried out oversight functions based on suspected of terrorism financing through the
five programs, with the details of each program’s initiatives SIPENDAR application; and
as follows:
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i. Reporting of AML-CFT-CPF risk scoring level through BFI Finance fully supports GENCARKAN and throughout
OJK’s Online Reporting Application (APOLO). 2024 has been directly engaging with the Indonesian
5. Human Resources and Training public through programs focused on Financial Literacy
a. The Company’s human capital training and and Financial Inclusion. Through this active participation,
monitoring on AML-CFT-CPF was conducted via the Company contributes to the empowerment of the
M-BEAT application (digital learning media for BFI Indonesian public in understanding the financial services
Finance’s employees); provided by various financial institutions, both banking and
b. Participation in AML-CFT-CPF seminars and trainings non-banking (including financial services from financing
from OJK, PPATK, and other parties, to ensure companies), to attain “A Financially Literate Society
understanding and knowledge in line with the latest Towards Golden Indonesia 2045”, in line with the theme of
regulatory developments and typologies of money GENCARKAN.
laundering, terrorism financing, and financing for the Based on the OJK’s instruction, the target beneficiaries of
proliferation of weapons of mass destruction; GENCARKAN include school students, university students,
c. Training for employees in the positions of Credit and young people; professionals; employees; farmers
Factory Head, Credit Commercial Analyst, Credit and fishermen; people with disabilities; Micro, Small,
PBF, Sharia & Non-Collateral Credit as well as the and Medium Enterprises (MSMEs) owners; Indonesian
Credit Operations Team at the Head Office as the Migrant Workers (PMI) and their families; communities
parties responsible for AML-CFT-CPF on the updates in the Frontier, Outer, and Disadvantaged Areas; women/
regarding the implementation of POJK 8/2023 and housewives; as well as other community groups.
AML-CFT-CPF cases in multifinance companies; and
The Company has the prerogative to determine the target
d. Updates to the employee recruitment process using
beneficiaries in line with the financing services offered
the AML-CFT-CPF Watchlist as a preventive measure
to the public. In preparing and organizing programs and
so that the Company avoids personnel who may be
activities that support this movement, the Company strives
able to abuse the Company as a means of operating
to be disciplined in applying the five main principles (key
crimes.
values) set by the OJK, namely:
1. Massive, equitable, synergistic, directed, measurable,
National Financial Literacy Movement and sustainable implementation;
(GENCARKAN) 2. Reaching all regencies and cities in Indonesia in
collaboration with relevant stakeholders;
OJK launched the National Financial Literacy Movement 3. Implementation of targeted and orchestrated Financial
(GENCARKAN) on 22 August 2024, involving all stakeholders Literacy and Inclusion (FLI) activities through monthly
to massively and thoroughly improve financial literacy campaigns;
and inclusion across Indonesia, with the aim of creating a 4. Strengthening the multiplier effect in the
financially literate society that can make informed financial implementation of FLI activities through FLI
decisions and avoid various financial crimes. The main Ambassadors and Agents; and
goal of this movement is to orchestrate and enhance 5. Implementation of massive FLI activities through
the synergy of financial literacy and inclusion activities various communication networks, media, and digital
conducted by all stakeholders. platforms.
The targets set by the Indonesian government for
GENCARKAN are:
1. The financial literacy index of the Indonesian society
ranking among the top 10 countries in the Organisation
for Economic Co-operation and Development (OECD) –
International Network on Financial Education (INFE) in
2029; and
2. The national financial inclusion index reaching 95% by
2029.
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Supporting programs and activities for GENCARKAN at BFI Finance include introducing financial and financing services to
the public, both conventional and sharia-based. The details of these programs and activities include:
Table 61 | Implementation of GENCARKAN 2024
Date Activity and Location Description
7 September 2024 Financial Literacy for customers themed “Developing Business Number of participants:
& Utilizing Productive Loans” in the framework of National 75 customers
Customer Day 2024, at ibis Styles Serpong BSD City, Tangerang
Selatan, Banten
3–6 October 2024 Financial Inclusion Participation in FinExpo BIK 2024 organized Around 740 guests visited BFI
by OJK, at e-Walk BSB Mall, Balikpapan, East Kalimantan Finance booth
10–13 October 2024 BFI Finance Fair (#BFINgangkatUsahaLokal) 2024 to increase A total of 18,028 visitors,
the capacity of MSMEs, at TangCity Mall, Tangerang, Banten 13 MSME booths, and
158 MSMEs from various
communities participated
in BFI Finance Fair, held to
bolster such community-
driven economic activities
11–13 October 2024 Financial Inclusion Participation in Multifinance Day APPI 2024 Around 270 guests visited BFI
at Gaia Bumi Raya City, Pontianak, West Kalimantan Finance booth
8–10 November 2024 BFI Finance Fair (#BFINgangkatUsahaLokal) 2024 to expand This edition of the BFI
the capacity of MSMEs, at MTC Mall Panam, Pekanbaru, Riau Finance Fair was attended
by 10,827 visitors, 16 MSME
booths, and 187 MSMEs
engaged in a variety of fields
23 November 2024 Financial Literacy for MSMEs themed “Smart Steps to Utilize Number of participants: 100
Productive Loans”, at Horison Hotel Bandar Lampung, MSMEs from the Bandar
Lampung Lampung area and its
surroundings with various
types of businesses
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WHISTLEBLOWING SYSTEM
The Company runs its Whistleblowing System established 3. Mailing address:
under Company Regulation No. SOP/031 dated 22 March Head Office of PT BFI Finance Indonesia Tbk
2013, as an implementation of GCG principles, especially BFI Tower
responsibility and fairness. Sunburst CBD Lot 1.2
The Whistleblowing System ensures optimal performance Jl. Kapt. Soebijanto Djojohadikusumo
and legal compliance of every BFI Finance employee in BSD City, Tangerang Selatan 15322
carrying out their duties and responsibilities. Indonesia
attn. Internal Audit Department
Whistleblowing Mechanism
Protection for Reporters and Handling of
Through BFI Finance Whistleblowing System, every Complaints
individual within the Company can submit their grievance
Any reporting party through BFI Finance Whistleblowing
and/or report regarding fraud and/or violations of the
System has their rights protected in accordance with Law
Company’s code of conduct or the principles of good
No. 31/2014 on Protection of Witnesses and Victims.
corporate governance, by submitting their reports through:
1. E-mail at fraud_investigator@bfi.co.id; In 2024, 103 complaints and reports of violations were
2. Short message service (SMS) at 0822 5888 8911; or received, of which 90 were sent by e-mail and 13 by SMS/
WhatsApp.
Table 62 | Whistleblowing Reports in 2024 and Handling Status
Type of Report/Complaint In Progress Solved Total
Fraud 0 52 52
Others (Not Fraud) 0 51 51
Total 0 103 103
Tabel 63 | Whistleblowing Reporting Media in 2024
Type of Media In Progress Solved Total
Email of Fraud Investigator 0 90 90
SMS/WhatsApp of Fraud Investigator 0 13 13
Written Letter 0 0 0
Total 0 103 103
Graph 18 | Whistleblowing Reports Follow-up Flow Chart
Report Recieved Data Verification Findings Validation Report Validation
Process Process
by the Whistkeblowing by the Internal Audit Through valid
System Department and the Risk investigation according
Management Department to the procedure
The Company shall impose a sanction on the perpetrator of the violation in accordance
Allegation Proven
with the applicable regulation in the Company
Whistleblowing Report Follow-up
In 2024, all reports of violations had been followed up and completely settled by the end of the year, and commensurate
sanctions had been given to the perpetrators.
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Highlights and Analysis
SUSTAINABILITY STRATEGY
BFI Finance maintains a Sustainability Vision and Mission Sustainability Goals
that guides the formulation and implementation of its
sustainability strategy, with due consideration of the The Company strives to provide various financing products
relevant conditions and the needs of its every stakeholder. that support the growth of community businesses and
carry out business processes that always take sustainable
development into account and support environmental
Sustainability Vision sustainability for the period 2021–2025.
To be a leading non-bank financial institution by upholding
a strong commitment to being a trusted financial solutions Sustainability Strategy Direction 2021–2024
partner for the community, while ensuring a balanced
achievement of economic prosperity, social well-being, and The Company’s sustainability strategy for 2021–2024
environmental preservation. Through this commitment, focuses on providing a diverse range of financing products
the Company aims to support the nation’s sustainable and services to support business development within
development and improve the quality of life in every area communities. This strategy also ensures that the business
where it operates processes align with sustainable development principles
and environmental conservation. Additionally, it aims to
enhance health, education, and adaptation to the current
Sustainability Mission digital lifestyle while empowering both internal (employees)
and external stakeholders (customers, communities, and
To conduct business activities sustainably by supporting the surrounding environment) across various aspects of life.
the development of entrepreneurs from the lower-middle BFI Finance is fully committed to supporting the
economic segment, thereby contributing to local economic achievement of the United Nations Sustainable
growth and social well-being while consistently considering Development Goals (SDGs), particularly:
environmental impacts
• SDG 3: Good Health and Well-being
• SDG 4: Quality Education
• SDG 6: Clean Water and Sanitation
• SDG 17: Partnerships for the Goals
BFI Sustainable Development (BUILD)
2021 2022 2023 2024 2025
Eco-friendly Office Growth and Development of Entepreneurial
and Culture SMES Quality Financing
Financing Digitalization
In line with its support for these SDGs, the Company’s sustainability strategies and programs in human capital
development, environmental initiatives, social responsibility, and the development of sustainable products/services are
elaborateed in the following sections.
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PILLAR
BFI Finance BFI Finance BFI Finance
for Indonesian for Indonesian for Indonesian
Health Education Community Welfare
Programs Implemented: Programs Implemented: Programs Implemented:
• Sehat untuk Merdeka • The 1000 Movement • Inspirational Online
(Healthy for Freedom) • Creative Schools Workshops for MSMEs
• Free Healthcare Services • Digital Training for • #BFINgangkatUsahaLokal
• Blood Donations Creative Teachers 2024 (BFI Finance Empowers
Local Businesses 2024)
• Bakti Ibu (Devotion to • Scholarships for Teachers
Mothers) • Financial Literacy
• Sports Achievement
Scholarship “Jadi Juara • BFI 4U Program (Village
BFI Finance” (Becoming Community Empowerment)
Champions with BFI • Environmental
Finance) Infrastructure and Clean
Water Access
• Sharing in Religious
Festivities
• Disaster Mitigation and
Response
• Planting of Mangrove
Seedlings
• BFI Green Lifestyle
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In their implementation, BFI Finance’s sustainability programs, which support the achievement of the SDGs, are guided
by the Corporate Social Responsibility (CSR) Program Policy. This implementation is realized through three fundamental
actions, namely:
Every layer, both inside and outside the Company, perceives and
think reflects on social issues occurring inside and outside the Company.
This reflection is an awareness of what is happening in the
surroundings and started to think of ways to be actively involved in it.
Every layer in the Company takes action to provide solutions to such
act issues and implements them in real actions as a result of self-reflection
and active participation in the surrounding community.
The results of implementation and concrete actions are continuously
preserve maintained and carried out sustainably by all layers of the Company,
thus producing positive outcomes.
To finance its sustainability programs, the Company allocates a budget based on its financial performance, taking into
account the evaluation of the previous year’s programs.
The entire series of sustainability programs is coordinated by various departments and business units within the Company,
including:
• Human Capital (HC) Department under the supervision of the Transformation Directorate;
• Corporate Communication, CSR & CPDM Department under the supervision of the Finance Directorate, specifically the
Corporate Communication (CorComm) Unit and the CSR Unit;
• Operations & Service Excellence Department under the supervision of the Operations Directorate; and
• Various departments and business units under the Business Directorate.
Realization of Sustainability Program Budget 2022–2024 (Rp million)
2024
Rp130,625
2023
Rp123,461
2022
Rp103,000
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Actual Utilization of the 2024 Sustainability Program Budget
Environment and Community Employment and Social Responsibility to
Infrastructure Empowerment Practices Customers
Rp823million Rp1,301million Rp128,217million Rp284million
2025 Sustainability Activity Targets 6. Improved Governance and Regulatory Compliance
• Develop and implement policies in line with OJK
In line with BFI Finance’s Sustainable Finance Action Plan regulations on sustainable finance
(RAKB) for the 2021–2025 period, with the latest version • Publish an integrated annual report covering
submitted to the OJK in December 2024, below is a financial performance and sustainability initiatives
summary of the Company’s sustainability activity targets for • Manage business risks and augment transparency in
2025: financial reporting
1. Evaluation and Finalization of the Sustainable Finance
Program Building the Culture of Sustainability
• Evaluate the performance of the sustainable finance
programs implemented in 2024 BFI Finance fosters a culture of sustainability in every
• Finalize the 2025 work programs, including employee in accordance with the sustainability principles
alignment with digital transformation and summarized in its Sustainability Policy and CSR Policy.
organizational streamlining These sustainability policies and practices are also
• Prepare risk management measures, continuous disseminated by the Company to external stakeholders on a
evaluation, and mitigation policies regular basis.
2. Digital Transformation and Business Strengthening The Company motivates every employee to participate
• Complete the final stage of digital transformation to in realizing the Sustainable Development Goals through
scale up business and data-driven operations their activities within the Company and also in Indonesia.
• Enhance information security systems to mitigate Therefore, the Company encourages direct employee
cyber risks involvement in the Company’s sustainability programs.
• Innovate products and develop marketing channels, Active employee involvement in these programs helps
while collaborating with external partners for create a positive image of BFI Finance in the eyes of direct
business expansion beneficiaries and the wider community.
• Strengthen risk management and utilize Big Data
The culture of sustainability is embedded in various
Analytics to improve financing approval efficiency
initiatives that actively involve BFI Finance employees,
3. Human Capital Development including:
• Develop competencies through training and an agile
• BFI 4U Program: A community empowerment initiative
mindset approach
focused on long-term activities in designated areas
• Enhance coordination between work units to
or villages. Led by employee volunteers, the program
optimize organizational performance
covers Health, Environment, and Education, aligning
4. Financial Inclusion and MSMEs Empowerment with the Company’s core values, G.R.E.A.T.
• Implement financial inclusion programs and • BFI Green Lifestyle: An internal sustainability initiative
financial literacy for MSMEs promoting a healthy and environmentally conscious
• Engage local MSMEs in the lifestyle. This includes reducing plastic packaging,
#BFINgangkatUsahaLokal program to bolster bringing reusable food containers and water bottles, and
regional economic growth collecting plastic bottle waste (at the Head Office) as
• Participate in FinExpo Bulan Inklusi Keuangan well as used fabric and paper shopping bags for reuse.
(Financial Inclusion Month or BIK in Indonesian
abbreviation) and Multifinance Day APPI Details of sustainability and performance programs in
the areas of employement, environment, social, as well as
5. Social and Environmental Sustainability
product and customer service responsibility are presented
• Execute CSR programs focused on health, education,
in subsequent section in this chapter.
and the environment
• Provide access to clean water and proper sanitation
in underserved areas
• Conduct mangrove planting, plastic waste
management, and drive environmental awareness
among employees
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Highlights and Analysis
HUMAN CAPITAL
BFI Finance sees Human Capital (HC) management as Along with the organizational restructuring and efforts to
a top priority to support business growth in 2024. By ensure that all employees and operations were engaged
implementing effective, efficient, and adaptive work appropriately and effectively, the Company recruited
principles, the Company adjusted the size of its workforce 4,196 new employees and provided 8 training programs
to always be right on target with business and responsive in throughout 2024. This reflected BFI Finance’s commitment
taking action. Every position and role was directed to meet to quality HC management based on a flexible and adaptive
the needs of the ever-growing business. growth orientation.
Simultaneously, the Company continues to transform the
work culture of all its employees towards a rejuvenated
work culture by instigating a number of strategic workforce Dynamic Manpower Planning
initiatives. The series of initiatives included upholding a
new way of working (“New Mindset”), developing capacity BFI Finance applied the Dynamic Manpower Planning
through dynamic planning, empowering strategic roles, (MPP) approach to determine the optimum workforce size
and encouraging cross-functional collaboration. All of in each branch. This approach called for flexibility: each
these targeted efforts support core business growth while branch had to evaluate the specific needs and productivity
strengthening partnerships with various parties to achieve levels of each of their teams, allowing for resource allocation
mutual success. and work process refinement to bring about a superior
business.
The Company worked closely with the business team to
Workforce Recruitment and Rightsizing determine the right operational model for each branch.
This collaboration allowed for adjustments to operational
Recruitment at BFI Finance is always based on the strategies with local market conditions and specific needs,
principles of professionalism, inclusion, and equality. The supporting branch efficiency and contribution to the
Company offers job opportunities without discriminating Company’s asset growth.
against gender, beliefs, political views, or other
In order for Dynamic MPP to be effective, the Company
backgrounds that are irrelevant to performance.
increasingly empowered the role of General Managers
Recruitment throughout 2024 was focused on meeting (GMs), conferring them greater authority regarding the
strategic needs, especially the digital team that played management and development of HC in their respective
a major role in supporting the Company’s business regions. Thus, GMs were enabled to make decisions more
transformation. To maximize this effort, various recruitment quickly and accurately, based on local conditions and
channels, such as social media, job portals, internal needs, resulting in better workforce management in their
platforms, and headhunting institutions, continued to be respective regions and supporting the achievement of the
leveraged to attain the best talent. Company’s goals.
In order for new employees to be optimally integrated, the
Company conducted comprehensive onboarding, where
new employees learnt under their seniors’ mentorship for
six months. Thus, new employees were able to adapt to the
Company’s work culture, fully understood the expectations
of their duties and responsibilities, and enthusiastic about
contributing optimally from the start of work.
The Company’s workforce structure is aimed at achieving
optimum efficiency. Thus, the Company has focused on
high-performing employees, balances redundancy, and
increases productivity and efficiency. This process not
only involved reducing the number of employees, but also
ensuring that motivation and productivity were maintained
through transparent communication, reasonable workload
management, and employee engagement in decision-
making related to HC management.
To facilitate the organizational transformation process
and address the concerns of affected employees, the
Company prioritizes open communication and adequate
psychological and practical support. These steps ensure
that employees feel valued, supported, and given the
opportunity to grow amidst challenges.
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Graph 19 | Employee Productivity
Number of Employees Number of Outlets
2022 2024 2022 2024
10,111 10,198 282 267
2023 2023
11,207 271
Employees per Outlet New Contracts per Employee
2022 2024 2022 2024
35.9 38.2 51.3 36.0
2023 2023
41.4 34.7
New Mindset Implementation Various training programs have been designed to
improve employee skills and capabilities. For this reason,
BFI Finance believes that in order for every employee to enhancement training programs are carried out not only
contribute maximally, the development of their individual internally but also involving external partners. The Company
skills and capabilities must be an integral part of the also provided space for employees to propose the training
Company’s culture. That is why the Company is applying topics that they wish to undertake, which would be met
the New Mindset to form a work culture that is ever as long as the proposal had relevance. Training in 2024
adaptive and innovative. Armed with this new mindset, focused on fostering an adaptive and growth-oriented
the Company’s employees are expected to be more open mindset. Additionally, certain sessions were conducted
to new learning, preparing them better to overcome to improve cross-generational collaboration, emotional
challenges and propel the Company ahead against the intelligence, and financial literacy among employees.
competition. In 2024, BFI Finance completed the construction of
Through the development of a growth mindset, the Regional Training Centers (RTC) throughout Indonesia. By
Company encourages employees to actively participate the end of 2024, the Company’s RTCs had been completely
in developing the capabilities they feel they need. The built and were operating in the northern and southern
Company elevates employee confidence while ensuring regions of Sumatra, Jakarta, Tangerang (including the Head
that their skills continue to develop in real terms. This will Office), Bogor, Bandung, Cirebon, Semarang, the region of
ultimately render the work environment in the Company Sulawesi–Maluku–Papua (Sulampa), Surabaya, Denpasar,
more inspiring and collaborative. and the eastern part of Kalimantan. The presence of RTCs
provided broader and more equitable access to training for
the employees. Training participants could now participate
Formation of a Capable and High Performing in training held at the RTC closest to their work area,
Team circumventing the need to travel to the Head Office for
training purposes.
BFI Finance consistently creates new roles and Employee competence development activities in 2024 cost
capabilities that support organizational growth through Rp4.9 billion in total, which included training expenditures,
a comprehensive employee development program. transportation, and participant accommodation. This
This program begins with talent identification, which is amount increased by 62% from its corresponding figure
conducted collaboratively between managers from various in 2023. The number of training participants in 2024 was
divisions, to ensure simultaneous career development both 50,676 personnel, accumulating a total training duration
vertically and horizontally. Talent search is also tailored to of 312,690 hours, equivalent to 6 hours of training per
the organizational needs of the Company. employee participant in the year. Thus, the training cost per
To muster a strong new business engine, a blend of internal employee reached Rp97 thousand in 2024, more efficient
talent development and external acquisition is essential. than in 2023 that reached Rp128 thousand.
By implementing both of these approaches, the Company
could integrate new skills that are relevant to long-term
business goals, at the desired capacity development rate.
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Highlights and Analysis
Table 64 | HC Development Metrics
Description 2022 2023 2024
Training Expenditures Rp3.8 billion Rp3.0 billion Rp4.9 billion
Number of Training
29,944 23,831 50,676
Participants
Number of Training
6 7 8
Programs
Table 65 | Education and Training Program Implementations
Training Classification Total Programs in 2024 Total Participants in 2024
Internal Training 5 46,952
External Training 4 3,724
Total 9 50,676
Table 66 | Types of Training and Number of Participants
Type of Training Total Training Sessions in 2024 Total Participants in 2024
Qualification 3 3,335
Mandatory 3 1,897
Functional 2 45,444
Total 8 50,676
Table 67 | Training Participants by Position
Position External Training Internal Training Total Participants
BOC & BOD 12 - 12
Senior Manager 57 138 195
Junior Manager 1,237 3,552 4,789
Officer 1,191 14,755 15,946
Staff 1,227 28,507 29,734
Total 3,724 46,952 50,676
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Table 68 | Average Training Hours per Employee Participation per Year
Male Female
Average
Number of Average Number of Average Training
Position Number Number
Participation Training Participation Training Hours per
of Training of Training
as at Hours per as at Hours per Participant
Hours Hours
31 Dec 2024 Participant 31 Dec 2024 Participant
BOC & BOD 39 12 3 - - - 3
Senior
457 158 3 74 37 2 3
Manager
Junior
26,805 3,745 7 12,048 1,044 12 8
Manager
Officer 105,311 12,058 9 33,056 3,888 9 9
Staff 93,603 23,898 4 41,297 5,836 7 5
Total 226,215 39,871 6 86,475 10,805 8 6
Performance Management
BFI Finance utilizes a performance management system oriented towards Key Performance Indicators (KPIs). Each
employee has an individual KPI that is periodically compiled and evaluated.
The performance management process begins with Employee Goals Setting, where employees compile their KPIs derived
from, and with reference to, their direct superior’s KPIs. The Human Capital (HC) Department works with each employee’s
direct superior to ensure that the KPIs are relevant and in line with market dynamics and business needs. Subsequently,
in the Performance Appraisal process, superiors assess the employee’s KPI achievement for a year to determine the profit
sharing scheme and give appreciation to employees exhibiting superior performance.
The Company strengthens talent mapping by identifying high-performing employees who have the potential to become
future leaders through a succession management program. This process involves assessing core, functional, and technical
competencies, which are now part of the recruitment requirements and career development guidelines. A total of 669
employees participated in the talent and succession management program in 2024, down from 952 personnel in 2023.
Table 69 | Participants of Talent Management and Succession Programs
2022 2023 2024
Position
Male Female Total Male Female Total Male Female Total
Managerial and
179 57 236 156 45 201 122 54 176
Above
Supervisor 575 170 745 574 177 751 356 137 493
Total 754 227 981 730 222 952 478 191 669
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Highlights and Analysis
Digital Transformation and Automation Enhancement of Employee Welfare and
Engagement
Digital technology is a vital component for implementing
the BFI Culture, which is based on the New Mindset. To support employee welfare, BFI Finance offers
Automation and in-depth data analysis capabilities made remuneration whose calculation takes into account
possible by advances in digital technology have immensely various factors, such as wage regulations, minimum wage
changed the dynamics of the world of work, reducing standards, the Company’s financial capacity, and market
dependence on manual work, while ramping up the trends.
business case for digital skills.
The employee remuneration package includes basic salary,
Responding to this change, the Company has set forth housing, transportation, hardship, holiday, medical, and
various strategic initiatives revolving around digital position allowances, as well as vehicle ownership loans and
transformation, to make its work system more effective and work facilities. The Company’s employees are protected by
responsive to market dynamics. These strategic initiatives personal accident and life insurance coverage. They may
included data-based decision making through HC analytics also receive performance bonuses for their individual and
to project trends, identify risks, and plan HC development. collective work results.
Use of technology has also elevated transparency and In addition to the financial aspect, the Company pays
communication between management and employees. attention to employee mental well-being by organizing
The work culture at BFI Finance is now more open, events to reinforce rapport, encouraging participation in
inclusive, collaborative, and attuned to the needs of volunteering activities, and inviting employees to become
the ever-evolving business. Openness makes it easier more involved in the Company.
for employees from one function to listen to input and
To uphold productive and facilitative industrial relations,
presentations, backed with data, from their colleagues
BFI Finance is applying the Company Regulations that have
from other functions. Furthermore, this strengthens mutual
been approved by the Ministry of Law and Human Rights,
trust and supports collaboration between departments
which regulate matters related to working conditions,
and directorates, demonstrating BFI Finance’s increasing
dialogue between management and employees, and
organizational maturity.
protection of employee rights. Employees are able to
convey their aspirations or complaints verbally or in writing,
and the Company is committed to giving appropriate
response to every input. In 2024, there were no significant
grievances related to industrial relations in the Company,
indicating that a harmonious work environment was
preserved.
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Occupational Health and Safety
The HC Department collaborates with Infrastructure Development Unit under the Operations Directorate to implement
the Occupational Health and Safety Management System (OHSMS) detailed in the Company Regulation. This OHSMS
applies to all employees, who are required to prevent potential accidents and damage, and mitigate risks they encounter
at work. Infrastructure and operational support systems, including valuable documents, and customer assets, are stored in
an earthquake- and fire-resistant Custodian Center. Furthermore, employees are trained in emergency evacuation and the
use of firefighting equipment, and are equipped with rescue facilities and first aid kits on each floor.
To maintain occupational safety, employees who travel frequently, such as those working in marketing and collection, are
required to comply with traffic regulations and use appropriate protective equipment.
BFI Finance supports healthy lifestyles by enrolling employees to a health insurance program, as well as applying a
preventive approach to occupational diseases. The Company actively disseminates materials on healthy lifestyles and
encourages boosting physical fitness to reduce health risks in the workplace.
Table 70 | Occupational Accidents
Type of Occupational Accident Field Staff Non-Field Staff Total
Serious Accidents 1 - 1
Minor Accidents 16 5 21
Total Cases 17 5 22
HC Plans and Strategy in 2025 and has a positive impact on business growth.
The Total Talent Management initiative aims to align
BFI Finance has established a comprehensive HC strategy talent strategy with business strategy, covering the overall
for 2025 as part of its efforts to create sustainable business process of talent planning, acquisition, management, and
growth through integrated, adaptive, and innovative development.
workforce management.
To ensure that teams work effectively, efficiently, and
Through four chief initiatives within the BFI Culture adaptively, the Capable & High Performing Team
2.0 framework, the Company continues to build a initiative focuses on clear alignments of KPIs, so that each
positive work environment by instilling a culture of open individual and team can contribute maximally to business
communication, rewarding exceptional achievements, achievements.
and ensuring that employees feel valued so that their
engagement and loyalty to the Company continue to In addition, BFI Finance is adopting a Data-Driven Talent
increase. Management approach. This initiative is expected to
empower HC decision-making processes and bolster
The Leadership Excellence initiative has been designed the effectiveness of HC-related programs. In turn, these
to create an environment that is conducive to effective processes will run better, grounded upon rich and
leadership, oriented towards continuous improvement, accurate data sets.
Graphic 20 | BFI Culture 2.0
ess Strateg
Busin y
Leadership
Excellence
Data-Driven BFI
Talent
Management
CULTURE Total Talent
Management
2.0
Capable & High
Performing Team
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Highlights and Analysis
ENVIRONMENTAL PERFORMANCE
Sustainable Operations of Environmental Protection and Management (PP 22/2021).
The Company also discourages using single-use items and
BFI Finance is engaged in the multifinancing business. prohibits Styrofoam materials in its work environment.
The Company’s operations in the financial services sector The Company also contributes to carbon emissions along
thus take place in urban or residential areas, and therefore its value chain, particularly through its financing involving
do not directly come into contact with the natural motor vehicles (cars and motorbikes), machinery and
environment, or any protected ecosystems. heavy equipment, which helps empower its customers and
BFI Finance’s operations result in certain impacts on provide uplift to their economic capabilities.
the environment, the most significant of which being To date, the Company has measured electricity and water
carbon emissions. Employees rely on various means consumption across all its office locations, including the
of transportation for work, thus becoming the major Head Office and branch outlets. In 2024, The Company
contributor to emissions. Until 2024, the Company had consumed 10.4 million kWh of electricity, equivalent to
not yet measured the amount of fuel consumed through 37,354 gigajoules (GJ), an increase of 7.5% compared to 2023.
employee transportation activities. Therefore, data on Meanwhile, water consumption rose by 2.2%, from
energy consumption and carbon emissions from these 78,516 m³ in 2023 to 80,262 m³ in 2024.
activities is not yet available.
Despite the increase in electricity and water usage in 2024
While it has yet to calculate the amount of energy compared to 2023, the Company remains committed to
consumed throughout its operations, the Company improving efficiency across its operations. Moving forward,
remains committed to contributing to energy savings. the Company plans to implement more disciplined
At the Head Office and all its outlets, employees are efficiency measures to optimize resource use.
encouraged to implement environmentally-friendly ways
of working, which include saving electricity and water. Based on its electricity consumption, the Company
The means to do so include turning off lights and air has estimated its Scope 2 carbon emissions using the
conditioning in rooms that are not in use, reducing and Greenhouse Gas Protocol. For 2024, using the emission
sorting domestic waste, reducing new paper use by opting conversion factor for the Java, Madura, and Bali (Jamali) grid
for used paper for printing certain documents, as well as at 0.8 kg CO₂e/kWh, the Company’s Scope 2 emissions were
constructing a disposal site for toxic and hazardous waste approximately 8,300 tons of CO₂e.
(B3 in Indonesian abbreviation) within the Head Office’s
premises. Such construction was done in compliance with
Government Regulation No. 22/2021 on the Implementation
Graph 21 | Electricity and Water Usage
Electricity Consumption
2023 2024
9,650,184 kWh 10,376,164 kWh
Water Consumption
2023 2024
78,516 m3 80,262 m3
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Table 71 | Electricity and Water Usage 2023
Electricity Energy Water
Electricity Cost Water Cost
Operational Region Consumption Consumption Consumption
(Rp) (Rp)
(kWh) (GJ) (m3)
Head Office 3,188,760 11,480 3,554,638,446 33,530 420,805,503
Sumatra 1,132,225 4,076 1,924,250,116 6,711 84,225,723
Greater Jakarta 1,044,586 3,761 1,775,304,911 8,511 106,811,600
Java, Bali & Nusa Tenggara 2,137,151 7,694 3,632,151,493 11,808 148,194,328
Kalimantan 835,895 3,009 1,420,628,148 8,044 100,954,038
Eastern Indonesia (Sulawesi,
1,311,567 4,722 2,229,047,919 9,912 124,391,281
Maluku & Papua)
Grand Total 9,650,184 34,742 14,536,021,033 78,516 985,382,473
Table 72 | Electricity and Water Usage 2024
Electricity Energy Water
Electricity Cost Water Cost
Operational Region Consumption Consumption Consumption
(Rp) (Rp)
(kWh) (GJ) (m3)
Head Office 3,434,433 12,364 3,937,447,050 32,617 417,176,395
Sumatra 1,280,367 4,609 2,176,021,639 6,992 87,749,134
Greater Jakarta 1,101,095 3,964 1,871,344,199 9,506 119,298,863
Java, Bali & Nusa Tenggara 2,317,307 8,342 4,030,106,746 13,653 171,346,910
Kalimantan 882,876 3,178 1,500,474,528 7,691 96,527,980
Eastern Indonesia (Sulawesi,
1,360,086 4,896 2,311,506,348 9,803 123,022,675
Maluku & Papua)
Grand Total 10,376,164 37,354 15,826,900,510 80,262 1,015,121,957
I am pleased to work with BFI Finance because their service has always
been highly satisfactory. Their process is also easy and fast, allowing my
customers to make installment payments without long waiting times. I
hope BFI Finance continues to thrive and offers even more competitive
interest rates in the future.
Candra
Owner of PT Bintang Jaya Auto Used Car Dealer
Jambi
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Highlights and Analysis
Environmental Preservation Program
As a measure to mitigate the environmental impact of its operations, since 2021 BFI Finance has been planting mangrove
trees. Restoring mangrove ecosystems has been the Company’s chosen strategy, as mangrove ecosystems are capable
of naturally absorbing up to ten times as much carbon as tropical forests and storing up to five times as much carbon as
tropical forests given the same area.
In 2023, the Company planted 10,000 mangrove trees across five locations. This initiative had yielded positive results and
holds significant potential for carbon dioxide (CO2) absorption, with an estimated average of 127.9 tons of CO2 per year, with
a margin of uncertainty of ±61.7 tons.
An evaluation conducted at the end of 2024 found that of the 10,000 seedlings planted in 2023, 8,390 trees (80.5% of the
total) have survived. Based on these findings, the estimated CO2 absorption from these 8,390 mangrove trees ranges
between 55.5 and 159.1 tons of CO2 per year.
Table 73 | Biomass of Mangrove Tree Roots Planted in 2023
Biomass/Tree Carbon/Tree CO2 /Tree
Root Type
(kg) (kg) (kg)
Surface Root 4.16 ± 2.21 2.08 ± 1.10 7.64 ± 4.04
Subsurface Root 2.81 ± 1.16 1.41 ± 0.58 5.18 ± 2.13
Total 6.97 ± 3.37 3.49 ± 1.69 12.79 ± 6.17
Table 74 | Estimated Carbon Sequestration from Mangrove Planting in 2023 (ton)
Carbon Sequestration for Carbon Sequestration for
Category 10,000 Planted Trees 8,390 Surviving Trees (Actual
(Initial Scenario) Condition as of End of 2024)
Biomass 69.7 ± 33.7 58.5 ± 28.3
Carbon 34.9 ± 16.9 29.3 ± 14.2
CO2 127.9 ± 61.7 107.3 ± 51.8
Graph 22 | Carbon Metrics
Carbon Metrics Total Carbon Metrics
per Tree (10,000 Tress)
Biomass Biomass
6.97(kg) 69.70(kg)
Carbon Carbon
3.49 (kg) 34.85(kg)
CO2 CO2
12.79 (kg) 127.90(kg)
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In 2024, the Company planted an additional 15,000 mangrove seedlings across six locations: Kepulauan Seribu (DKI
Jakarta), Bekasi and Indramayu (West Java), Brebes (Central Java), Denpasar (Bali), and Dumai (Riau).
Graph 23 | Distribution of Mangrove Seedlings Planted by the Company
Number of Number of
New Plantings Trees Planted
in 2024 2022–2024
15,000 40,000
Apart from planting mangroves, the Company is also • Collecting reusable fabric and paper shopping bags for
actively promoting an environmentally friendly lifestyle use in the office canteen and cooperative; and
among employees and communities around its operational • Regularly raising awareness about the environmental
areas through the BFI Green Lifestyle program. In 2024, this impact of waste through email blasts.
program included several initiatives, such as:
The Company also expanded the scope of BFI Green
• Reducing the use of plastic food containers and
Lifestyle to outdoor activities, such as the BFI RUN 2024,
encouraging employees to bring their own food and
a major running event held on 23 June 2024, at ICE
drink containers;
BSD, Tangerang Regency. At this large-scale sporting
• Eliminating plastic bags; event, the Company collected 691.8 kg of plastic bottle
• Prohibiting the use of Styrofoam; waste, subsequently delivered to a nearby waste bank for
• Banning plastic straws; recycling.
• Implementing plastic bottle waste management;
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Highlights and Analysis
SOCIAL PERFORMANCE
BFI Finance is committed to bringing a positive impact to the communities
Health around its operational locations throughout Indonesia. This commitment was
made manifest in various programs held in 2024.
Sehat untuk Merdeka (Healthy for Freedom) | August 2024
369 People
A series of Healthy for Freedom programs were held to celebrate
Indonesia’s Independence Day in five regions, namely in Tangerang
Selatan (Banten), Kediri (East Java), Palangkaraya (Central Kalimantan),
Tarakan (North Kalimantan), and Makassar (South Sulawesi). The
number of beneficiaries of this program reached 369 people.
Free Healthcare Services
977 People
BFI Finance branches in 14 cities initiated a free health check-up
program for customers and local communities. The cities included
Parepare (South Sulawesi), Balaraja (Banten), Kudus (Central Java),
Yogyakarta (D.I. Yogyakarta), Surabaya (East Java), Bukittinggi (West
Sumatra), Semarang (Central Java), Makassar (South Sulawesi), Sunter
(Jakarta), Bandar Lampung (Lampung), Karawang (West Java),
Tasikmalaya (West Java), Bekasi (West Java), and Pekanbaru (Riau). The
number of beneficiaries of this program reached 977 individuals.
Blood Donations
514 People
BFI Finance conducted seven blood donation drives in 2024 through
various branches, held in Malang and Lamongan (East Java), Makassar
(South Sulawesi), and Tangerang Selatan (Banten). A total of 514 blood
bags were collected.
Bakti Ibu (Devotion for Mothers)
665 People
In celebration of Mother’s Day, BFI Finance organized a special health
program for women and children. The activities included free health
check-ups, blood donation, education on stunting and pregnancy, and
free reading glasses distribution. The program took place in 10 regions,
namely Ketapang (West Kalimantan), Tanah Bumbu (South Kalimantan),
Pangkalan Bun (Central Kalimantan), Dumai (Riau), Balikpapan (East
Kalimantan), Surabaya (East Java), Sorong (West Papua), North Bolaang
Mongondow (North Sulawesi), Jombang (East Java), and Parung Panjang
(West Java), reaching 665 beneficiaries.
In total, the health programs conducted by BFI Finance in 2024 benefited over 2,500 individuals.
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Education
The 1000 Movement | August 2024
The 1000 Movement Program is an annual BFI Finance program
that aims to improve the quality of education in Indonesia and
providing support for the teaching and learning process. A total
of 1,038 students from across Jayapura, Sorong, Manokwari,
Nabire, and Merauke in Papua became the program’s
beneficiaries in 2024. These students received a new pair of
shoes and socks to ensure they can go to school in proper
clothing.
Creative Schools | May–July 2024
Through the Creative Schools, BFI Finance supports access
to proper education in Indonesia. In 2024, this program
involved 3,237 students and 245 teachers from 12 schools
across Sumatra, Java, Kalimantan, Sulawesi, and Nusa
Tenggara. They received educational equipment, including
laptops, computers, desks, chairs, and other learning tools.
Additionally, BFI Finance employees assisted in renovating
computer labs, school toilets, libraries, and classrooms
while improving school facilities.
Digital Training for Creative Teachers | January–December
2024
The Creative Teacher Digital Training program in 2024 was
conducted online with 35 teachers from 10 schools across
Pekanbaru (Riau), Palembang (South Sumatra), Luwuk
(Central Sulawesi), Manado (North Sulawesi), Bogor and
Karawang (West Java), Nganjuk and Malang (East Java),
Sumbawa (West Nusa Tenggara), and Banjarmasin (South
Kalimantan). The two-month training covered video-based
learning content creation using Canva Pro Editor and an
introduction to AI in education. Participants were required
to create educational videos, which were then evaluated in a
competition at the end of the program.
Scholarships for Teachers | December 2023–December Sports Achievement Scholarship “Jadi Juara BFI
2024 Finance” (Becoming Champions with BFI Finance) |
September 2024–September 2025
Teachers involvement in BFI Finance education programs
in 2024 was boosted with the provision of scholarships for The Company launched the “Jadi Juara BFI Finance”
8 teachers from 6 schools in Palembang (South Sumatra), (Becoming Champions with BFI Finance) scholarship for
Lamongan and Surabaya (East Java), Balikpapan (East 10 teenagers with the potential to become national track
Kalimantan), Palu (Central Sulawesi), and Kupang (NTT). and field athletes. This initiative is a one-year collaboration
They had previously passed the Microsoft Certified Educator between BFI Finance’s CSR Unit and Yayasan Cinta Kembali
program in early 2023. The Company provided them with a Juara foundation in Jakarta to enhance the capacity and
one-year online course on the integration of digital systems skills of these young talents. The scholarship provides
in education. technical training, physical conditioning, and formal
education support. The 10 promising young athletes include
5 from Jakarta, 3 from East Nusa Tenggara (NTT), and 2
from Papua. In addition to the scholarship, the Company
also supplied sports equipment, professional coaching, and
nutritional support.
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 175
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Highlights and Analysis
Community Welfare
Inspirational Online Workshops for MSMEs | 19–20 June 2024
A digital marketing training was provided to micro, small, and medium enterprise (MSME)
entrepreneurs to help them maximize digital channels for sales growth. The workshop was
conducted online in two intensive sessions and attended by 100 participants, including customers
and business community members from Tangerang Raya (Banten), Majalengka (West Java),
Semarang and Kudus (Central Java), Blora (East Java), and Medan (North Sumatra).
#BFINgangkatUsahaLokal 2024 (BFI Finance Empowers Local
Businesses 2024) | October–November 2024
The #BFINgangkatUsahaLokal program aligns with BFI
Finance’s vision. This initiative engaged 300 participants,
including customers, MSME community members, and the
general public from Tangerang (Banten) and Pekanbaru
(Riau). The program featured business training and mentoring,
covering topics such as marketing strategies, financial
management, public speaking, entrepreneurial mindset, and
creative business ideas. In addition to training and mentoring,
the event included a local product bazaar, Pound Fit and
aerobic exercise session, free health check-ups, mini handicraft
workshop, and various children’s competitions, including
coloring, dancing, and a fashion show.
Financial Literacy | Papua, Tangerang Selatan, and Lampung, 15
May, 7 September, and 23 November 2024
The Company held financial literacy events in three cities, namely
Jayapura (Papua), Tangerang Selatan (Banten), and Bandar
Lampung (Lampung), to enhance customers’ and the public’s
knowledge and skills in financial management, introduce
financing products, promote the use of productive loans for
business growth, and improve their understanding of the benefits
and risks of financing. The Financial Literacy program in Papua
was attended by 46 students from SDN Inpres Doyo Lama in
Jayapura, while the session in Tangerang Selatan gathered a
total of 75 entrepreneurs and customers. Meanwhile, the event
in Lampung was attended by 100 entrepreneurs from Bandar
Lampung and its surrounding areas..
BFI 4U Program (Village Community Empowerment) |
September–October 2024
This annual program, aimed at enhancing community welfare,
introduced a new concept in 2024 and engaged 25 employee
volunteers from BFI Finance. BFI 4U 2024 successfully provided
activities and welfare-supporting facilities across education,
economic, and healthcare sectors, benefiting 1,235 people in
Palalangon Village, Pasir Jaya, Bogor Regency, West Java. In
the education sector, the BFI 4U volunteer team supported the
teaching and learning process and renovated SDN Palalangon
by establishing a library, creating a garden, repainting school
building walls, and constructing an irrigation system. In
the economic sector, the team provided entrepreneurship
training along with direct assistance in the form of seeds and
agricultural tools. In the healthcare sector, the volunteers built
a community health post (Posyandu), provided education and
nutritious food for children, and facilitated free health check-
ups for the elderly.
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Environmental Infrastructure and Clean Water Access |
September–October 2024
Each year, BFI Finance provides assistance to regions
experiencing clean water shortages. In 2024, the Company
facilitated the development of clean water access in Palalangon
Village, Pasir Jaya, Bogor Regency, located at the foothills of
Mount Salak. A 2-kilometer pipeline installation was carried
out in collaboration with local residents and BFI Finance
employee volunteers. This initiative positively impacted 1,235
residents of Palalangon Village, Bogor Regency, West Java. In
addition to supplying clean water for daily needs, the program
also improved irrigation infrastructure for local farmland and
plantations.
Sharing in Religious Festivities | March–April, June 2024
The Company organized several programs aimed at sharing
prosperity with communities around its operational areas during
festive periods:
• Takjil Sharing | March–April 2024
In the holy month of Ramadan 1445 H, the Company
distributed 2,378 takjil across 14 branch offices, including
Dumai (Riau), Jambi (Jambi), Palembang (South Sumatra),
Pangkal Pinang (Bangka Belitung Islands), Bandar Lampung
(Lampung), Bandung and Karawang (West Java), Solo 2 and
Kudus (Central Java), Surabaya 2 and Malang (East Java),
Denpasar (Bali), Sanggau (West Kalimantan), and Merauke
(South Papua).
• BFI Berqurban | June 2024
Commemorating Eid al-Adha 1445 H, Company employees
distributed 1,795 bags of sacrificial meat to the community
around the Head Office and Company branches in Padang
(West Sumatra), Jambi (Jambi), Bogor and Tasikmalaya (West
Java), Kudus (Central Java), Tuban (East Java), Buleleng (Bali),
Balikpapan (East Kalimantan), Pontianak (West Kalimantan),
Gorontalo (Gorontalo), and Sorong (Southwest Papua).
Disaster Mitigation and Response | April and December 2024
As part of its commitment to supporting communities affected
by natural disasters, fires, and other emergencies, as well as
providing disaster preparedness education, CSR Unit organized
the following initiatives:
• Healthcare Services for Disaster Survivors I April 2024
Since 2022, BFI Finance has continuously contributed to
mobile healthcare and ambulance services in collaboration
with Sekolah Relawan Foundation. On April 3, 2024, BFI
Finance provided free medical services to 160 flood survivors
at the Ngemplik Wetan Shelter, Demak, Central Java.
• First Aid Education and Disaster Response Simulation |
December 2024
In partnership with Sekolah Relawan Foundation, BFI
Finance conducted first aid training and emergency
response education for 50 Posyandu (community health
post) volunteers in Parung Panjang, Bogor.
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 177
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Highlights and Analysis
Planting of Mangrove Seedlings
Since 2021, BFI Finance has been actively engaging with
local communities to support environmental conservation
through its mangrove seedling plantation program.
Further details on this initiative are provided in the
Environmental Performance section pages 170–173.
BFI Green Lifestyle
BFI Finance’s CSR Unit continuously promotes sustainable
awareness, encouraging employees to adopt environmentally
friendly practices and take tangible actions for a greener lifestyle.
Once employees embrace this mindset, the BFI Green Lifestyle
program will positively impact the well-being of communities
surrounding the Company areas. This program is further
explained in the Environmental Performance section page 170-
173.
Graph 24 | Distribution of CSR Programs by Region Graph 25 | Distribution of CSR Programs by Island
12 13 Java
West Indonesia
28 Sulawesi
% %
13 Kalimantan
Central Indonesia
39 49 East Indonesia Sumatra
Maluku & Papua
16
16 Bali & Nusa Tenggara
14
Graph 26 | BFI Finance CSR Program Distribution Map 2024
The regions benefiting from BFI Finance’s CSR initiatives in 2024
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Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
RESPONSIBILITY FOR SUSTAINABLE
PRODUCT/SERVICE DEVELOPMENT
Supporting Financial Inclusion and Sustainable Ethical and Responsible Business Practices
Finance Programs
The Company collects loan repayments from its customers
BFI Finance’s financing products are offered to various in an ethical manner and in compliance with applicable
levels of society to meet their needs, both productive and regulations, in accordance with POJK No. 35/POJK.05/2018
consumptive. Most customers of these products come from on Business Operations of Finance Companies.
the lower middle class, who often find it difficult to access Should a customer experience difficulties in repaying their
financial services from banking institutions. Others live loans, the Company will endeavor to use a method that is
in remote areas, where mainstream financial services are firm, respectful, and sensitive to the customer’s condition,
inadequate, or even non-existent. thereby minimizing the potential for disputes in the
Through its outlets throughout Indonesia, BFI Finance process. The Company ensures that all its customers are
provides fair and equitable financial services for all levels of treated ethically and responsibly by Company employees.
society. This is a form of Company support for the financial Annually, the Company conducts a survey to measure
inclusion program initiated by the Indonesian Government. customer satisfaction in using its products and services.
With more and more parties joining its financial services The survey results in 2024 along with the customer service
ecosystem, BFI Finance has the ability to increase their programs at BFI Finance are presented in the Management
economic capacity through targeted financing products. Analysis and Discussion chapter, Customer Service section,
These products empower people to be more involved in pages 96.
various economic activities whose results will elevate their
standard of living.
Both the Company’s own products and financial
services, as well as those of its subsidiaries’, support
the implementation of its Sustainable Finance vision
for Indonesia. The working capital financing products
offered by BFI Finance specifically boosts the economic
independence of the Indonesian people, with Rp12.2 trillion
having been distributed to MSMEs throughout the country
by the end of 2024. This value represented 53.2% of the
Company’s total financing portfolio.
I first learned about BFI Finance in 2021 through the media. At the
time, I needed additional business capital and I chose BFI Finance
for their well-known reputation and competitive interest rates. With
financing from BFI Finance, my business has now been running more
smoothly. I am highly satisfied with the service provided by every
employee at the Company.
Erika Nurhayati
Motorcycle Financing Customer
Bintaro, South Jakarta
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 179
Page 180
07 CORPORATE
DATA
180 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
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181 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
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About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
SHARE OWNERSHIP COMPOSITION
Table 75 | Composition of Shares and Shareholders as at 31 December 2024
Price per Share Rp25
Description
Total Shares Face Value (Rp) % Shares
Authorized Capital 20,000,000,000 500,000,000,000 100.00
Issued and Fully Paid-up Capital 15,967,115,620 399,177,890,500 79.84
Share Capital in Portfolio 4,032,884,380 100,822,109,500 20.16
Shareholders
Trinugraha Capital & Co SCA 7,688,125,938 192,203,148,450 48.15
PT BFI Finance Indonesia Tbk* 927,732,000 23,193,300,000 5.81
Others (each below 5%) 7,351,257,682 183,781,442,050 46.04
Total 15,967,115,620 399,177,890,500 100.00
* Result of the Company’s stock buyback program in line with the EGMS resolution on 15 April 2015 and the remaining treasury
stock after the MESOP implementation based on the EGMS resolution on 29 June 2022
Table 76 | Share Ownership of BOD Members
Beginning of Year End of Year Nature of
Name Position
Ownership
Total Shares % Shares Total Shares % Shares
Francis Lay Sioe Ho President Director 344,108,180 2.16 343,908,180 2.15 Direct
Sutadi Director 17,517,000 0.11 18,817,000 0.12 Direct
Sudjono Director 26,310,800 0.16 26,310,800 0.16 Direct
Andrew Adiwijanto Director 10,240,000 0.06 11,240,000 0.07 Direct
Goklas Director - - 1,012,500 0.01 Direct
Total 398,175,980 2.49 401,288,480 2.51
Graph 27 | Classification of Shareholders as at 31 December 2024
11.04
Domestic Individual Shareholders
25.06 14.02 Domestic Institutional Shareholders
%
Total Domestic Shareholders
0.01
74.93 Foreign Individual Shareholders
Foreign Institutional Shareholders
74.94 Total Foreign Shareholders
The shareholding structure of PT BFI Finance Indonesia Tbk as at the end of 2024 consisted of 9,285 individual and
institutional shareholders, with 74.95% registered overseas and the remaining 25.05% domestically. There are no
shareholders holding more than 5%, except for Trinugraha Capital & Co SCA as the controlling shareholder and BFI Finance’s
treasury shares.
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Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
Graph 28 | Shareholding Composition as at 31 December 2024
5.81
Trinugraha Capital & Co SCA
PT BFI Finance Indonesia Tbk *
46.04
% 48.15
Others (each below 5%)
* Result of the Company’s stock buyback program in line with
the EGMS resolution on 15 April 2015 and the remaining
treasury stock after the MESOP implementation based on the
EGMS resolution on 29 June 2022
Graph 29 | Shareholding Structure as at 31 December 2024
Jerry Ng
100%
Bravo Capital Private equity managed by Other/Passive
Garibaldi Thohir
Holdings Ltd. NS Advisors 1) Investors 2)
7.3% 23.2% 14.3% 55.2%
Bravo Investments
Ltd.
99.34%
0.66%
Trinugraha Capital Treasury Stock / BFI
Public below 5%
& Co SCA Finance
48.15% 5.81% 46.04%
PT BFI Finance
Francis Lay Sioe Ho
Indonesia Tbk
99.00% 1.00%
PT Finansial
Integrasi Teknologi
Ultimate Beneficial Owners (UBO)
1. NS Advisors is Northstar Advisors Pte. Ltd.
2. Other/Passive Investors are those without voting rights
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About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
CONTROLLING SHAREHOLDER PROFILE
TRINUGRAHA CAPITAL & Co SCA entity. TCC has the capability to be involved in all of the
commercial, technical, financial, or operational aspects,
either directly or indirectly, in order to successfully achieve
Manager
its objectives.
Trinugraha Capital (TC SARL)
Managers and Supervisors of TCC
Brief History
In accordance with its articles of association, TCC is
Trinugraha Capital & Co SCA (TCC) is a company managed by one or more managers who are the unlimited
incorporated under the laws of the Grand-Duchy of liability shareholders/commandite. TC SARL, a société à
Luxembourg, and registered in the country. The articles responsabilité limitée, was appointed as the sole manager
of association of TCC have been amended several times of TCC. All matters related to TCC and their financial
with the latest amendment being effective based on the condition including in particular the bookkeeping and
resolutions of TCC’s EGMS dated 28 November 2022. accounts are overseen by the TCC Supervisory Board.
Objectives and Interests of TCC
TCC’s objectives and interests are in participating, in any
form, in companies, partnerships, or other forms of business
ULTIMATE BENEFICIAL OWNERS
The Ultimate Beneficial Owners (UBO) of the Company are Terrorism Financing, in conjunction with the Regulation
Garibaldi Thohir and Jerry Ng. The Company submitted the of the RI Minister of Law and Human Rights No.15/2019 on
information disclosure regarding the ultimate beneficial Procedures for Implementing the Principle of Recognizing
owners to the RI Minister of Law and Human Rights as Beneficial Owners of Corporations.
stated in the Data Submission Statement dated 17 June
The two parties designated as the UBO have fulfilled the
2022.
criteria stated in Article 4 paragraph 1 points f and g of the
The designation of Garibaldi Thohir and Jerry Ng as the Regulation of the RI President No. 13/2018, namely:
UBO is in accordance with the provisions in the Regulation a. Receiving benefits from a limited liability company;
of the RI President No. 13/2018 on Implementation of the and/or
Principle of Recognizing Beneficial Owners of Corporations b. Being the actual owner of the funds related to the
in the Context of Preventing and Eradicating the Financial ownership of shares of the limited liability company.
Crime of Money Laundering and the Criminal Act of
184 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
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Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
MANAGEMENT AND EMPLOYEE
STOCK OWNERSHIP PROGRAM (MESOP)
Pursuant to the EGMS Resolution on 29 June 2022, the 2. Be registered as permanent employees and/or have
Company implemented the Management and Employee been working for the Company since 1 January 2019;
Stock Ownership Program (MESOP) on 75 million of its 3. Have their average KPI for the last two years at 2.5 at
treasury shares, with an execution price of Rp500 per share, least;
or amounting to a total of Rp37.5 billion. 4. Purchase the number of shares based on their personal
grade (PG) as at 30 June 2022;
The transfer took place on 11 October 2022. Such shares
5. Have their MESOP eligibility revoked should they no
under this MESOP scheme are blocked from trading for
longer work with the Company for any reason, including
three years since the transfer date.
resignation, before 30 September 2022; and
To be eligible for taking part in the MESOP scheme, those 6. Be bound by other stipulations made separate to this
who are the Company’s management and employees must: regulation for issues that are not covered herein.
1. Be active as employee of BFI Finance, and not part of the
The Company did not perform any MESOP in 2024.
members of the BOD, BOC, and SSB of the Company;
CHRONOLOGICAL LISTING OF SHARES AND
CHANGES IN NUMBER OF SHARES
Chronology of Share Listing Based on Deed No. 80 dated 22 November 1989 and Deed
No. 27 dated 8 March 1990, the authorized capital of the
Based on Deed No. 57 on 7 April 1982, and amended by Company when the Company was about to conduct a
Deed No. 40 dated 6 October 1982, both made before public offering increased from Rp3 billion divided into 100
Kartini Muljadi, S.H., a Notary in Jakarta, the authorized preferred shares and 1,900 common shares each with a
capital of the Company was Rp3 billion divided into 100 nominal value of Rp1.5 million to Rp15 billion divided into
preferred shares and 1,900 common shares, each with a 15 million ordinary shares each having a nominal value
nominal value of Rp1.5 million, while the issued and fully of Rp1,000, while the issued and fully paid-up capital
paid-up capital amounting to Rp1.5 billion, divided into 100 amounting to Rp8.5 billion, consisting of 8.5 million shares.
preferred shares and 900 common shares.
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About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
Table 77 | Chronological Listing of Shares and Changes in Total Outstanding Shares
Corporate Stock Listing Listed Value & Total Listed
Action Exchange Date Shares Price (Rp) Shares
Initial Public Offering BEJ & BES 16 May 1990 2,125,000 1,000 2,125,000
The Company issued
BEJ 14 June 1993
Share Dividend 1,062,500 1 new share for every 3,187,500
BES 11 June 1993
10 shares owned
The Company issued
BEJ 22 September 1993 17 bonus shares
Bonus Share 9,934,668 13,122,168
BES 13 September 1993 for every 20 shares
owned
BEJ 6 December 1993
Company Listing 8,500,000 1,000 21,622,168
BES 2 December 1993
The Company issued
BEJ 22 March 1994
Share Dividend 7,207,390 1 new share for every 28,829,558
BES 21 March 1994
3 shares owned
Limited Public Offering I
(Rights Issue I):
BEJ & BES 9 May 1994 28,829,558 1,000 57,659,116
1 share entitled to 1 new
share
Limited Public Offering II
(Rights Issue II):
BEJ & BES 12 February 1997 115,318,232 1,000 172,977,348
1 share entitled to 2 new
shares
Stock Split 1:2 BEJ & BES 3 November 1997 172,977,348 500 345,954,696
New Shares from MCB BEJ 11 May 2006
414,384,585 - 760,339,281
Conversion BES 5 June 2006
Stock Split 1:2 BEI 7 August 2012 760,339,281 250 1,520,678,562
Issuance of Shares for
Implementation of MESOP BEI 31 May 2013 5,936,000 250 1,526,614,562
Phase I - Grant Date 1
Issuance of Shares for
Implementation of MESOP BEI 30 May 2014 23,320,000 250 1,549,934,562
Phase I - Grant Date 2
Issuance of Shares for
Implementation of MESOP BEI 29 May 2015 16,025,000 250 1,565,959,562
Phase II - Grant Date 1
Issuance of Shares for
Implementation of MESOP BEI 31 May 2016 30,752,000 250 1,596,711,562
Phase II - Grant Date 2
Company’s Share Buyback Total shares
with the maximum purchased
N/A 15 April 2015 100,273,200 N/A
repurchasing period of amounted to
18 months from 15 April 2015 Rp252,160,169,658
Stock Split 1:10 BEI 5 June 2017 1,596,711,562 25 15,967,115,620
MESOP from Treasury
BEI 11 October 2022 75,000,000 500 15,967,115,620
Shares
All of the above actions have been approved by the capital market authorities and duly implemented.
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Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 187
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About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
CHRONOLOGICAL LISTING
OF OTHER SECURITIES
Table 78 | Bond Listing Summary
Amount Amount
Date Listed Effective Bond
Debt Securities Issued Issued per Serial Coupon Due Date
on IDX Date Rating
(Rp billion) (Rp billion)
7 June 18 September
Obligasi Berkelanjutan Serial A 437 8.00%
2018 2021
IV BFI Finance 8 September
(No. S-67/ A+(idn) 832
Indonesia Tahap III 2020
D.04/ 8 September
Tahun 2020 Serial B 395 9.50%
2018) 2023
8 June
Obligasi Berkelanjutan Serial A 200 6.00%
2022
V BFI Finance 31 May
AA-(idn) 600
Indonesia Tahap I 2021
Tahun 2021 28 May
Serial B 400 7.75%
2024
16 August
Serial A 210 5.25%
2022
Obligasi Berkelanjutan
V BFI Finance 9 August 6 August
Serial B AA-(idn) 1,000 260 6.25%
Indonesia Tahap II 2021 2023
Tahun 2021
6 August
Serial C 530 7.25%
2024
21 May 7 February
Serial A 617 6.25%
2021 2024
Obligasi Berkelanjutan (No. S-66/
V BFI Finance 30 January D.04/2021) 27 January
Serial B AA-(idn) 1,100 227 7.00%
Indonesia Tahap III 2023 2025
Tahun 2023
27 January
Serial C 256 7.375%
2026
Serial A 590 6.10% 24 April 2024
Obligasi Berkelanjutan
V BFI Finance 17 April
Serial B AA-(idn) 1,600 385 7.00% 14 April 2025
Indonesia Tahap IV 2023
Tahun 2023
Serial C 625 7.15% 14 April 2026
Obligasi Berkelanjutan Serial A 250 6.00% 25 June 2024
V BFI Finance 16 June
AA-(idn) 1,100
Indonesia Tahap V 2023
Tahun 2023 Serial B 850 7.00% 15 June 2026
5 October
Serial A 100 6.60%
2025
18
Obligasi Berkelanjutan
September 25 September
VI BFI Finance Serial B 26 September 200 6.80%
2024 AA-(idn) 600 2026
Indonesia Tahap I 2024
(No.S-130/
Tahun 2024
D.04/2024)
25 September
Serial C 300 6.90%
2027
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Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
Bond
Public Legal
Status Underwriter Trustee Notary Rating
Accontant Consultant
Agency
PT BNI Sekuritas
PT Bank Tanubrata Ir. Nanette
PT Danareksa Sekuritas Jusuf PT Fitch
Tabungan Sutanto Fahmi Cahyanie
Paid PT DBS Vickers Sekuritas Indonesia Indradewa & Ratings
Negara Bambang & Handari Adi
PT Mandiri Sekuritas Partners Indonesia
(Persero) Tbk Rekan Warsito, S.H.
PT Trimegah Sekuritas Indonesia Tbk
Paid PT BNI Sekuritas
PT Bank Tanubrata Ir. Nanette
PT BRI Danareksa Sekuritas Jusuf PT Fitch
Tabungan Sutanto Fahmi Cahyanie
PT DBS Vickers Sekuritas Indonesia Indradewa & Ratings
Negara Bambang & Handari Adi
PT Mandiri Sekuritas Partners Indonesia
Not yet due (Persero) Tbk Rekan Warsito, S.H.
PT Trimegah Sekuritas Indonesia Tbk
PT BCA Sekuritas
Paid PT BNI Sekuritas PT Bank Tanubrata Ir. Nanette
Jusuf PT Fitch
PT DBS Vickers Sekuritas Indonesia Tabungan Sutanto Fahmi Cahyanie
Indradewa & Ratings
PT BRI Danareksa Sekuritas Negara Bambang & Handari Adi
Partners Indonesia
PT Mandiri Sekuritas (Persero) Tbk Rekan Warsito, S.H.
PT Trimegah Sekuritas Indonesia Tbk
Not yet due
PT BCA Sekuritas PT Bank Tanubrata Ir. Nanette
Jusuf PT Fitch
PT BRI Danareksa Sekuritas Tabungan Sutanto Fahmi Cahyanie
Not yet due Indradewa & Ratings
PT Mandiri Sekuritas Negara Bambang & Handari Adi
Partners Indonesia
PT Trimegah Sekuritas Indonesia Tbk (Persero) Tbk Rekan Warsito, S.H.
PT BCA Sekuritas PT Bank Tanubrata Ir. Nanette
Jusuf PT Fitch
PT BRI Danareksa Sekuritas Tabungan Sutanto Fahmi Cahyanie
Not yet due Indradewa & Ratings
PT Mandiri Sekuritas Negara Bambang & Handari Adi
Partners Indonesia
PT Trimegah Sekuritas Indonesia Tbk (Persero) Tbk Rekan Warsito, S.H.
PT BCA Sekuritas PT Bank Tanubrata Ir. Nanette
Jusuf PT Fitch
PT BRI Danareksa Sekuritas Tabungan Sutanto Fahmi Cahyanie
Not yet due Indradewa & Ratings
PT Mandiri Sekuritas Negara Bambang & Handari Adi
Partners Indonesia
PT Trimegah Sekuritas Indonesia Tbk (Persero) Tbk Rekan Warsito, S.H.
PT BCA Sekuritas PT Bank Tanubrata Ir. Nanette
Jusuf PT Fitch
PT BRI Danareksa Sekuritas Tabungan Sutanto Fahmi Cahyanie
Not yet due Indradewa & Ratings
PT Mandiri Sekuritas Negara Bambang & Handari Adi
Partners Indonesia
PT Trimegah Sekuritas Indonesia Tbk (Persero) Tbk Rekan Warsito, S.H.
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 189
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About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
BOARD OF COMMISSIONERS
Main Tasks BOC Appointment and Dismissal Procedures
The Board of Commissioners (BOC) is a representative body Based on the articles of association, BOC members are
of the shareholders, established to perform supervisory appointed by the GMS for a period of five years, without
functions based on the articles of association, to advise the prejudice to the right of the GMS to dismiss them at any
BOD in managing the Company, as well as to monitor the time before the tenure expires, if the BOC members are
efficacy of GCG practices in the Company. deemed to be able to carry out their duties as stipulated in
the articles of association and/or the GMS resolutions. Such
In exercising supervision:
dismissal is applicable after the close of the meeting, unless
1. The BOC acts collectively as the board and not
otherwise determined by the GMS. After their term of office
individually;
ends, BOC members may be reappointed by the GMS.
2. The BOC is not allowed to perform executive tasks,
which are the authority of the BOD, except in certain Prior to their appointment as BOC members, candidates
circumstances and for a specific period of time, based on are required to meet the requirements set by OJK
the articles of association or GMS resolution; Regulation No. 34/POJK.03/2018 dated 27 December 2018
3. Supervision is conducted on the decisions that have on Reassessment of Key Personnel in Financial Services
been taken (ex-post facto) and/or decisions to be taken Institutions in conjunction with POJK No. 27/POJK.03/2016
(preventive basis); dated 22 July 2016 on Fit and Proper Test for Key Personnel
4. Supervision is conducted not only by receiving in Financial Services Institutions. Candidates are required to
information from the BOD or the GMS, but can also be pass the fit and proper test conducted by the fit and proper
conducted by taking other actions according to accurate test team formed by OJK. All current BOC members have
and reliable information from other sources; complied with the applicable regulations.
5. The BOC is not merely approving or disapproving of
Upon reaching the end of their term of office, the
the acts that require the approval of the BOC, but also
BOC members may be reappointed, subject to a
supervising all business and corporate aspects of the
performance assessment overseen by the Nomination
Company;
and Remuneration Committee. After assessment, the
6. The BOC shall ensure that the Company’s Annual
Nomination and Remuneration Committee will make
Report includes information about the identity of the
a recommendation, should the Committee decide to
BOC members, their positions, meetings, honorarium,
authorize the BOC members’ reappointment. Based on the
and other information as stipulated in the applicable
recommendations of the Nomination and Remuneration
regulations; and
Committee, the BOC will propose the reappointment of the
7. The BOC shall ensure that the BOD has followed up on
BOC members at the GMS.
audit findings and recommendations of the Company’s
internal audit unit, external audit, and the results of OJK
and/or other authorities’ supervision.
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Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
Criteria for BOC Members Appointment BOC Guidelines and Work Rules
Those who may be appointed as BOC members are In carrying out its duties and responsibilities, the BOC
those who meet the requirements as specified by the refers to its guidelines and work rules prescribed in the
applicable regulations in the Capital Market, and that upon Board Manual of the BOC and the BOD of PT BFI Finance
appointment and during their period: Indonesia Tbk (Board Manual), issued on 1 December 2015.
1. Have a good character, morals, and integrity; The Board Manual stipulates various aspects of the BOC,
2. Are legally competent; including its function, membership, supervisory guidelines,
3. Within five years prior to appointment and during their positional ethics, duties and authorities, rights, meetings,
tenure: performance evaluation, supporting bodies, and the
a. Have not been declared bankrupt; working relationship between the BOC and the BOD.
b. Have never been members of a BOD and/or a BOC
The Board Manual of the BOC is accessible at https://www.
that has been found guilty for causing a company to
bfi.co.id/en/corporate/Corporate-Good-Governance/board-
go bankrupt;
manual.
c. Have never been convicted of a criminal act that is
detrimental to the country’s financial sector and/or
related to the financial sector; and
d. Have never been members of a BOD and/or a BOC
that during their period:
• Have never conducted an AGMS;
• Have been members of a BOD and/or a BOC
whose accountability had not been accepted by
the GMS or had not provided accountability as
members of a BOD and/or a BOC to the GMS; and
• Have never caused a company that obtained a
license, approval, or registration of OJK to not fulfill
the obligation to submit annual reports and/or
financial reports to OJK;
e. Have commitment to complying with the prevailing
regulations; and
f. Have the required knowledge and/or expertise in the
Company’s field of business;
4. Have met the additional criteria for the Commissioner
who is also an Independent Commissioner, as outlined
in the Independent Commissioners section in this
chapter.
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About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
BOC Composition, Diversity, and Independence
Table 79 | BOC Composition, Diversity, and Concurrent Positions
Name Kusmayanto Kadiman Johanes Sutrisno
Position President Commissioner Independent Commissioner
Age 70 73
Country of Residence Indonesia Indonesia
Legal Basis and Date Deed of the EGMS Minutes No. 3 dated 25 Deed of the EGMS Minutes No. 3 dated 25
of Appointment May 2021 May 2021
End of Term 2026 GMS 2026 GMS
Number and Date Decree of Bapepam-LK Chairman No. KEP- Decree of the Board of Commissioners of OJK
of the Decree of 473/BL/2011 dated 11 August 2011 No. KEP-2020/NB.1/2014 dated 4 August 2014
the Fit and Proper
Assessment Results
Education Doctor of Philosophy and Bachelor of Master of Business Administration (M.B.A.)
Engineering Physics and Bachelor of Economics in Management
Work Experience President Commissioner, Vice President President Commissioner, Commissioner,
Commissioner, Commissioner, Independent Director, Audit Committee, Risk Management
Commissioner, Director, ITB Rector, Minister Committee, Risk Oversight Committee
of Reseach and Technology of the Republic of
Indonesia
Positions Held • Vice President Commissioner of PT Adaro None
Outside the Company Power
and Its Subsidiary • Independent Commissioner of PT
Profesional Telekomunikasi Indonesia Tbk
(Protelindo)
• Independent Commissioner of PT Sarana
Menara Nusantara Tbk
• Independent Commissioner of PT Global
Digital Niaga Tbk
Members of the BOC of BFI Finance have no financial and familial relationships up to the second degree with fellow BOC
members, BOD members, and/or the Controlling Shareholders, or with the Company, except for Kusmayanto Kadiman
(President Commissioner), Sunata Tjiterosampurno (Commissioner), and Saurabh Narayan Agarwal (Commissioner), who
have financial relationships with the controlling shareholder.
During the reporting period, none of the BOC members owned shares amounting to 5% or more of the paid-up capital in
BFI Finance or in any other companies.
Throughout the reporting period, all members of the Company’s BOC complied with the provisions of POJK No. 30/
POJK.05/2014 (POJK 30) and POJK No. 33/POJK.04/2014 (POJK 33) regarding concurrent positions.
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Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
Alfonso Napitupulu Sunata Tjiterosampurno Saurabh Narayan Agarwal
Independent Commissioner Commissioner Commissioner
74 52 43
Indonesia Indonesia Singapore
Deed of the EGMS Minutes No. 3 Deed of the EGMS Minutes Deed of the EGMS Minutes No. 7
dated 25 May 2021 No. 7 dated 29 June 2020 dated 16 May 2023
2026 GMS 2025 GMS 2028 GMS
Decree of the Board of Decree of the Board of Decree of the Board of
Commissioners of OJK No. KEP-2019/ Commissioners of OJK No. Kep-282- Commissioners of OJK No. KEP-203/
NB.1/2014 dated 4 August 2014 NB.11-2015 dated 1 June 2015 PL.02/2023 dated 8 December 2023
Bachelor of Law Master of Finance and Bachelor of Bachelor of Technology (B.Tech.)
Business Administration in Electrical Engineering, Master
of Science (M.S.) in Microelectrics,
Master of Business Administration
(M.B.A.)
Lawyer, Legal Consultant, Consultant, Director, Managing Commissioner, President
Commissioner, Independent Director, Commissioner, President Director, and Director in various
Commissioner, President Director, Commissioner, Audit Committee, companies in the fields of finance,
Nomination and Remuneration Risk Management Committee, telecommunications, investment,
Committee Nomination and Remuneration energy, mining, and management
Committee consulting services, business analyst,
private equity investment associate
Managing Partner at Alfonso • Managing Director of Northstar • Managing Director and Head of
Napitupulu & Partners Law Firm Advisors Pte. Ltd. Southeast Asia Private Equity of
• Commissioner of PT Trimegah Warburg Pincus LLC, Singapore
Sekuritas Indonesia Tbk • Director of Advance Intelligence
• Commissioner of PT Bundamedik Group (ADVANCE.AI), Oona
Tbk (BMHS) Insurance Singapore (Oona
Holdings Pte. Ltd.), Circles.Life,
Everise, GCash (Mynt – Globe
Fintech Innovations, Inc.), MoMo
Pay, and Techcombank (Vietnam
Technological and Commercial
Joint Stock Bank)
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About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
Table 80 | BOC Independence
Financial Relationship with Family Relationship with
Name Controlling Controlling
Commissioners Directors Commissioners Directors
Shareholders Shareholders
Yes No Yes No Yes No Yes No Yes No Yes No
Kusmayanto Kadiman - √ - √ √ - - √ - √ - √
Johanes Sutrisno - √ - √ - √ - √ - √ - √
Alfonso Napitupulu - √ - √ - √ - √ - √ - √
Sunata - √ - -
√ √ - - √ - √ √
Tjiterosampurno
Saurabh Narayan - √ - - √
√ √ - - √ - √
Agarwal
Independent Commissioners Of the five BOC members who were in office as at 31
December 2024, two of them (40%) are Independent
According to the OJK’s definition, Independent Commissioners. This is in keeping with OJK provisions.
Commissioners are members of the BOC from outside
the Issuer or Public Company who meet the requirements
as Commissioners. In the event that the BOC consists Independent Commissioners’ Statement of
of two members, one of them must be an Independent Independence
Commissioner.
The statement of independence of Independent
In addition to meeting the requirement provisions as a Commissioners is stipulated in the annual report. In case
member of the BOC, an Independent Commissioner shall the Independent Commissioner is also serving at the Audit
meet the following requirements: Committee, said Independent Commissioner may only
1. Is not a person who is working or having authority and be reappointed for one more term of office at the Audit
responsibility for planning, directing, controlling, or Committee.
supervising the activities of the Company within six
With reference to Article 25 of POJK 33, each of the
months, except for reappointment as an Independent
Company’s Independent Commissioners, namely
Commissioner of the Company in subsequent periods;
Johanes Sutrisno and Alfonso Napitupulu, has met
2. Does not own shares; either directly or indirectly; in the
the criteria as Independent Commissioners. Neither of
Company;
them has any financial, management, share ownership
3. Is not affiliated with the Company, members of the
and/or family relationships with other BOC members,
BOC, members of the BOD, or major shareholders of the
BOD and/or Controlling Shareholders or relationships
Company;
with the Company, which may affect their ability to act
4. Does not have any business relationship; either directly
independently as stipulated in the implementation of GCG
or indirectly; relating to the Company’s business
for finance companies.
activities; and
5. Independent Commissioners who have served for
two periods may be reappointed for the next period
providing the Independent Commissioners declare to
remain independent to the GMS.
Based on the Board Manual of the BOC and the BOD,
former members of the BOD or executive officers of
the Company or parties who have a relationship with
the Company, which may affect their ability to act
independently, cannot be appointed as Independent
Commissioners of the Company, before completing a
cooling off period of one year.
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Governance Statements
Orientation Program for New BOC Members BOC Committees
For new BOC members, to enable them to determine the In executing their duties, the BOC is assisted by three
general condition of the Company and be more familiar committees, i.e., Audit Committee, Risk Oversight
with the other members, and devise ways to collaborate as Committee, and Nomination and Remuneration
a solid, comprehensive and effective team, the Company Committee. Each committee consists of the Chairperson
organizes an orientation program. Orientation of new BOC from one of the Independent Commissioners, and its
members is held at the first BOC Meeting attended by the members, whom are appointed by the BOC. The functions
new members. and duties of these committees are elaborated in their
respective charters. These three committees report to the
BOC.
Working Relationship between the BOC and the
BOD
BOC Committees Performance Evaluation
The Company maintains a good working relationship
between the BOC and the BOD by applying the following Based on the result of assessment of each committee
principles: under the BOC, considering the collective performance,
1. The BOC must respect the functions and roles of the competence, and attendance in meetings of each
BOD in managing the Company as stipulated in the laws committee, the BOC concluded that its committees carried
and the Company’s articles of association. out their respective duties and responsibilities in 2024,
2. The BOD must respect the functions and roles of the according to the mandate given to them.
BOC in conducting monitoring and providing policy
advice to the management of the Company.
3. The working relationship between the BOC and the
BOD is a formal relationship, guided by a standard
mechanism or correspondence that can be accounted
for.
4. Informal working relationships are allowed for the BOC
members and BOD members, but cannot be used as a
formal policy before undergoing the proper mechanism
or correspondence that can be accounted for.
5. The BOC reserves the right to gain access to timely,
accurate, and complete company information.
6. To obtain further information on a case, the Board may
request explanations from officials under the BOD
with prior coordination with the BOD, so as to create a
working relationship between the BOC and the BOD, so
that the aim of corporate communication through the
one-gate policy can be achieved.
7. The BOD is responsible for ensuring that information
about the Company is granted to the BOC in a timely,
accurate, consistent and complete manner.
8. Every working relationship between the BOC and
the BOD is an institutional relationship. The working
relationship between any member of the BOC and the
BOD must be known by all members of both boards.
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About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
BOARD OF DIRECTORS
Main Tasks Criteria for BOD Members Appointment
The Board of Directors (BOD) is established as the Those who may be appointed as BOD members can
Company’s governance body that is fully responsible for the be Indonesian citizens and/or foreign nationals who are
management of the Company’s interests and objectives as qualified to be appointed as Directors of the Company,
well as representing the Company, both in and out of the in line with the articles of association, and following the
court, in every way and for any event. provisions of the prevailing regulations in the Capital
Market, among others:
1. Have a good character, morals and integrity;
BOD Appointment and Dismissal Procedures
2. Are legally competent;
Based on the articles of association, BOD members are 3. Within five years prior to appointment and during their
appointed by the shareholders at the GMS for a term period:
commencing on the date of appointment until the closing a. Have not been declared bankrupt;
of the fifth AGMS. BOD members may be dismissed by the b. Have never been members of a BOD and/or a BOC
shareholders at the GMS at any time before their term of that has been found guilty for causing a company to
office expires. bankruptcy;
c. Have never been convicted of a criminal act that is
Prior to their appointment as BOD members, candidates detrimental to the country’s financial sector and/or
are required to meet the requirements set by POJK No. 34/ related to the financial sector; and
POJK.05/2018 dated 27 December 2018 on Reassessment d. Have never been members of a BOD and/or a BOC
of Key Personnel in Financial Services Institutions, which that during their period:
has been amended with POJK No. 14/POJK.03/2021 dated • Have never conducted an AGMS;
31 July 2021, in conjunction with POJK No. 27/POJK.03/2016 • Have been members of a BOD and/or a BOC
dated 22 July 2016 on Fit and Proper Test for Key Personnel whose accountability had not been accepted by
in Financial Services Institutions. Candidates are required to the GMS or had not provided the accountability as
pass the fit and proper test conducted by the fit and proper members of a BOD and/or a BOC to the GMS; and
test team formed by OJK. All BOD members have complied • Have caused a company that obtained a license,
with the prevailing regulations. approval, or registration of OJK to not fulfill
Upon reaching the end of their term of office, the the obligation to submit annual reports and/or
BOD members may be reappointed, subject to a financial reports to OJK;
performance assessment supervised by the Nomination e. Have commitment to comply with the prevailing
and Remuneration Committee. After the assessment, regulations; and
the Nomination and Remuneration Committee shall f. Have the required knowledge and/or expertise in the
make a recommendation if the Committee authorizes Company’s field of business.
the reappointment of those members whose period
In addition to the above, BOD members are also obliged to
has finished. Based on the recommendations of the
meet the following requirements:
Nomination and Remuneration Committee, the BOC
1. Have sufficient knowledge and relevant to their
will propose the reappointment of the BOD members at
positions;
the GMS.
2. Have an understanding of the laws and regulations
concerning finance companies as well as other laws and
regulations relating to the finance companies;
3. Have experience working in finance companies and
other fields that are relevant to their positions; and
4. Have the ability to make strategic management
decisions in order to develop the Company into a healthy
financial institution.
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Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
BOD Guidelines and Work Rules In carrying out the business and operational activities, BOD
reserves the following rights:
In carrying out its duties and responsibilities, the BOD refers 1. Every BOD member is entitled to resign by submitting
to its guidelines and work rules prescribed in the BOC and a written notification to the Company of their intent at
the BOD Manual of PT BFI Finance Indonesia Tbk (Board least 30 days before the date of their resignation;
Manual), issued on 1 December 2015. 2. Every BOD member has the right to defend themselves
at the GMS if the GMS at any time dismiss said BOD
The Board Manual stipulates various aspects of the BOD,
member;
including its function, membership, criteria, positional
3. The BOD has the right to appoint one or more as
ethics, duties and authority, rights, meetings, performance
representatives or proxies to perform certain legal
evaluation, and the supporting bodies of the BOD.
actions by giving special powers set forth in the power of
The Board Manual of the BOD is accessible at https://www. attorney;
bfi.co.id/en/corporate/Corporate-Good-Governance/board- 4. The BOD is entitled to represent the Company in and
manual. out of court on all matters and in any event as well as
perform all acts and deeds, both regarding maintenance
and ownership, as well as binding the Company with
BOD Authority and Rights other parties, within the restrictions stipulated in the
articles of association of the Company; and
The BOD, in carrying out the Company’s activities and 5. The BOD members are entitled to a salary and/or
operations, reserves the authority to: benefits.
1. Pursue business development;
2. Represent the Company in and out of court;
3. Develop provisions concerning employment including
recruitment, transfer, succession and termination,
salary determination, post-employment benefits and
retirement, as well as other income based on the
prevailing regulations;
4. Appoint and dismiss the Corporate Secretary; and
5. Establish strategic and operational decisions that involve
risks and uncertainties.
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About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
BOD Composition, Diversity, and Independence
The composition of the Company’s BOD reflects the diversity of its members, both in terms of education, work experience,
age, and skills. Each BOD member is highly competent with regards to enhancing the Company’s performance. The
diversity of the BOD members has been met implicitly with the fulfillment of the requirements as BOD members, one of
which is having expertise in the areas that are important for the Company.
Table 81 | BOD Composition, Diversity, and Concurrent Positions
Name Francis Lay Sioe Ho Sutadi
Position President Director Business & Asset Management Director
Age 76 50
Country of Residence Indonesia Indonesia
Legal Basis and Date of Deed of the EGMS Minutes No. 3 dated Deed of the EGMS Minutes No. 5 dated 22
Appointment 25 May 2021 May 2024
End of Term 2026 GMS 2027 GMS
Number and Date of the Decree of the Board of Commissioners Decree of the Board of Commissioners of
Decree of the Fit and Proper of OJK No. KEP-2021/NB.1/2014 dated 4 OJK No. KEP-1292/NB.1/2014 dated 3 June
Assessment Results August 2014 2014
Education Master of Business Management Executive M.B.A., Bachelor of Industrial
(M.B.M.), Bachelor of Business Engineering
Administration (B.B.A.)
Work Experience President Commissioner of PT FIT, Director, Member of the IT Steering
President Director, Director and Committee (BOD), Division Head,
Company Founder, Chairman of the Regional Manager, Branch Manager, Sales
Risk Management and the IT Steering Executive, Collection & Credit Analyst
Committees (BOD), Credit Manager, Officer
Treasury Officer, Executive Officer at
Singapore Ministry of Finance
Positions Held Outside the None None
Company and Its Subsidiary
Members of BFI Finance’s BOD have no financial and family relationships to the second degree with fellow BOD members,
members of the BOC, and/or Controlling Shareholders, or relationships with the Company.
During the reporting period, none of the BOD members owned shares amounting to 5% or more of the paid-up capital in
BFI Finance or in any other companies.
All BOD members of the Company presiding up to 31 December 2024 have complied with POJK 30 and POJK 33 provisions.
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Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
Sudjono Andrew Adiwijanto Goklas
Finance Director Operations Director Transformation Director
54 56 46
Indonesia Indonesia Indonesia
Deed of the EGMS Minutes No. 5 Deed of the EGMS Minutes No. 17 dated Deed of the EGMS Minutes No. 5
dated 22 May 2024 29 June 2022 dated 22 May 2024
2027 GMS 2027 GMS 2027 GMS
Decree of the Board of Decree of the Board of Commissioners Decree of the Board of
Commissioners of OJK No. KEP-1294/ of OJK No. KEP-465/NB.11/2017 dated 14 Commissioners of OJK No. KEP-
NB.1/2014 dated 3 June 2014 August 2017 462/PL.02/2024 dated 29 October
2024
Enterprise Risk Manager (ERM™), Master of Business Administration Executive M.B.A., Management
Master of Business Administration (M.B.A.), Bachelor of Electrical Development Program, Bachelor
(M.B.A.), Bachelor of Economics in Engineering of Economics in Financial
Accounting Management
Commissioner of PT FIT, Director, Director, Member of the IT Steering Project Management Office
Corporate Secretary, Member of the Committee (BOD), Member of the Head, Member of the IT Steering
Risk Management and the IT Steering Nomination and Remuneration Committee (BOD), Division Head,
Committees (BOD), Member of the Committee (BOC), Division Head and Branch Manager
Risk Oversight Committee (BOC), Department Head in various sections of
Finance and Information Technology the Head Office, Regional Manager and
Division Head, Senior Auditor Branch Manager in various regions in
Indonesia, Marketing Officer
None None None
Table 82 | BOD Independence
Financial Relationship with Family Relationship with
Name Controlling Controlling
Commissioners Directors Commissioners Directors
Shareholders Shareholders
Yes No Yes No Yes No Yes No Yes No Yes No
Francis Lay Sioe Ho - √ - √ - √ - √ - √ - √
Sutadi - √ - √ - √ - √ - √ - √
Sudjono - √ - √ - √ - √ - √ - √
Andrew Adiwijanto - √ - √ - √ - √ - √ - √
Goklas - √ - √ - √ - √ - √ - √
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About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
Division of BOD Duties and Responsibilities
Table 83 | BOD Duties and Responsibilities
Name and Position Duties and Responsibilities
Francis Lay Sioe Ho As a Chief Executive Officer (CEO), he holds the highest decision-making authority in
President Director the Company and is responsible for the overarching achievement of the Company’s
business objectives and targets. Serving as Chief Risk Officer (CRO), he is responsible
for overseeing risk management across all aspects of the Company’s business,
including credit/financing, liquidity and funding, operational, legal and regulatory,
strategic/business, and reputational risks. His primary duties include reviewing and
approving proposed business risks, implementing and monitoring risk management
policies and procedures, managing credit operations to support business objectives,
maintaining a comprehensive analytical infrastructure, and working with business
and operational units to ensure that the Company’s risks are identified, measured,
and managed within established thresholds. He receives direct reports from all BOD
members, overseeing the functions of Internal Audit, Corporate Compliance, Risk
Management (including work units such as Operational Risk & APU–PPT, Risk Policy
& Portfolio, Risk Data Science, Credit Operations, and Anti-Fraud), and Corporate
Secretary. In the BOD Committees, he acts as Chairman of the Risk Management
Committee and Chairman of the Information Technology Steering Committee. In
relation to the Company’s subsidiary (PT FIT), he serves as the President Commissioner.
Sutadi As a Chief Marketing Officer (CMO), he is responsible for formulating strategy and
Business & Asset marketing work plan to ensure the achievement of annual business targets, developing
Management Director an annual budget plan for the financing business that includes product segments for
retail customers (used and new cars, used motorcycle, property, and non-collateral),
commercial products for corporate customers (heavy equipment and machinery),
and sharia-based financing. Following the shareholders’ approval at the EGMS on 22
May 2024, he is responsible to oversee functions related to Asset Management for
maintaining the quality of the Company’s portfolio through collection and recovery
of overdue receivables, as well as ensuring that the collection and settlement process
for problematic contracts complies with applicable laws and regulations. The various
departments and work units under his supervision consist of: Marketing (including
work units that carry out the Product Development & Management function for Cars,
Motorcycles, Property-Backed Financing (PBF), and Non-Collateral, Core Business
Tribe, Channel Tribe (including Digital Marketing), Corporate & Dealer Financing for
Heavy Equipment and Machinery, Sharia Business Unit (SBU), National Sales, Direct
& Telemarketing, and Business Project & Marketing Communication); New Business
Tribe; and Asset Management & Inventory (including Legal & Litigation). In the BOD
Committees, he acts as Member of the Information Technology Steering Committee.
Sudjono As a Chief Financial Officer (CFO), he is responsible for directing and monitoring all
Finance Director the financial activities, including funding sources and adequacy of funding (including
liquidity position) to support business growth, financial control, oversight of strategic
projects, and also the presentation of financial statements in accordance with the
applicable accounting standards and regulations. He also serves as the Corporate
Secretary, and acts as the partner for business units and regional business operations
in regards to reporting and analysis of financial and operational performance of
the Company’s business lines. The various departments and work units under his
supervision consist of: Financial Control; Finance & Treasury; Corporate Communication,
Corporate Social Responsibility (CSR) & CPDM (Corporate Program Development &
Management); Digital Business & Incubation (including Information Technology or IT
management functions), and Investor Relations functions. In the BOD Committees, he
acts as Member of the Risk Management Committee and Member of the Information
Technology Steering Committee. In relation to the Company’s subsidiary (PT FIT), he
serves as a Commissioner.
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Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
Name and Position Duties and Responsibilities
Andrew Adiwijanto As a Chief Operating Officer (COO), he is responsible for ensuring the alignment of
Operations Director functions within the organization run properly and complying with internal policies,
as well as supervising and ensuring the standardization of customer service in order
to achieve a sustainable level of customer satisfaction. The various departments and
work units under his supervision are Operations & Service Excellence, Branch Business
Partner, Insurance & Operational Services, and Compensation, Benefits & Rewards.
In the BOD Committees, he acts as Member of the Information Technology Steering
Committee.
Goklas The establishment of Transformation Director has been approved by shareholders
Transformation Director at the EGMS on 22 May 2024. As a Transformation Director, he is responsible for
guiding and ensuring various initiatives in the organization that aim to transform the
Company to strengthen its readiness and excel in facing competition amidst market
developments and the dynamics of the financing industry. His core duties consist
of: achieving the Company’s aspirations in the long and short term by ensuring the
implementation of the Company’s strategies, especially in the areas of transformation
projects, incubation and optimization of the Company’s business; providing direction
and ensuring the implementation of the Company’s priorities in transformation
projects for the development of the Company’s business; utilizing technology and
data optimally to drive better analysis, more efficient work processes, and superior
customer service quality compared to competitors. Concurrently serving as Chief
Human Capital Officer (CHCO), he is also responsible for monitoring the development
and management of the Company’s HR as a whole, ensuring the availability of HR
with adequate competence and integrity to carry out business processes with good
governance, and developing excellent HR in a sustainable manner. The departments
and work units under his supervision are the Project Management Office (PMO) & Data
Management, and Human Capital. In the management of the BOD Committee, he is a
Member of the Information Technology Steering Committee.
Orientation Program for New BOD Members Committee were re-established through the BOD Decree
No. SK/SYARIAH/24-0358 UPD 0 dated 25 October 2024. As
BFI Finance provides an orientation program for its new at 31 December 2024, the Committee was chaired by the
BOD members to provide knowledge about the general Head of UUS, had three members, and in possession of a
condition of the Company and be more familiar with the charter. Committee meetings are held at least once in six
other members, and altogether devise ways to collaborate months.
as a solid, comprehensive and effective team. The
orientation of new BOD members is held in the first BOD Independence Statement
meeting attended by the new members.
All Committee members maintain their professionalism
In 2024, the orientation program was held once, attended and accountability at work, and refrain from taking
by the Transformation Director who was appointed based personal advantage, either directly or indirectly, from the
on the decision of the EGMS on 22 May 2024. Company’s activities other than their legitimate income.
Committee members are committed to implementing
POJK 10/2019 provisions.
Committees Under the BOD
Duties and Functions
The BOD has three committees under the BOD to support
the management’s performance, with the details for each 1. Conducting studies and analysis of product
as follows: development or new business activities to be enacted or
marketed;
Sharia Product and Business Activity Development 2. Evaluating and improving each product or business
Committee activity;
3. Providing recommendations, suggestions/input, and
This committee was formed based on the BOD Decree No. evaluation of marketing aspects, fulfillment of sharia
SK/SYARIAH/19-0176 dated 25 July 2019, in accordance with principles, and risk mitigation; and
POJK No. 10/POJK.05/2019 on Business Operations of Sharia 4. Formulating and proposing monthly and annual
Finance Companies and Sharia Business Units of Finance performance achievements for business activities based
Companies (POJK 10/2019). The structure and duties of the on sharia principles.
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Committee Composition
The Sharia Product and Business Activity Development
Committee as at 31 December 2024 comprised:
• Chairman: Deni Nasri
• Members:
- August Rinaldi Sanoesi
- Emiliana Woro Saptiti Hari Putri
- Arwin
Table 84 | Profiles and Term of Office of Members of the Sharia Product and Business Activity Development Committee
Internal Position Term of Office on
Name Position Age Nationality Educational Background
in the Company the Committee
Deni Nasri Chairman 46 Indonesian • Bachelor of Economics in Head of SBU 2021–2026
Accounting, Universitas
Andalas, Padang, West
Sumatra (2001)
• Master of Economics,
Sekolah Tinggi Ekonomi
Islam (STEI) Tazkia, Bogor,
West Java (2021)
August Rinaldi Member 42 Indonesian • Associate Diploma in Head of Risk 2022–2026
Sanoesi Engineering, Mechanical Management
Engineering Major,
Politeknik Negeri Jakarta
(2003)
• Credit Risk Program
Academy Global,
Singapore (2015)
Emiliana Woro Member 42 Indonesian Bachelor of Architectural Head of 2023–2026
Saptiti Hari Putri Engineering, Universitas Consumer Credit
Atma Jaya Yogyakarta Operations
(UAJY), Yogyakarta Special
Region (2000)
Arwin Member 42 Indonesian Bachelor of Economics in Head of Asset 2024–2026
Manageement, Trisakti Management
University, Jakarta (2000)
Table 85 | Schedule and Attendance of the Sharia Product and Business Activity Development Committee Meetings
August Rinaldi Emiliana Woro
Date Deni Nasri Arwin
Sanoesi Saptiti Hari Putri
25 June 2024 √ √ √ √
22 November 2024 √ √ √ √
Total Attendance of Each Member 2 2 2 2
Attendance Percentage of Each Member 100% 100% 100% 100%
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Governance Statements
Risk Management Committee a whole and performing back testing to find out the
appropriateness of the risk measurement method based
This committee was formed based on the BOD Decree
on historical data kept by the Company against the pre-
No. SK/RPP/21-0116 dated 14 July 2021 to carry out the duties
established Risk Management policies and strategies;
and functions according to POJK No. 44/POJK.05/2020
5. Periodically reviewing the Risk Management process;
on Risk Management Application for Non-Bank Financial
6. Reviewing proposals for the development or expansion
Services Institutions (POJK 44/2020). The structure and
of the Company’s business activities which are focused
duties of the Committee were re-established through the
on aspects of the Company’s ability to develop or expand
BOD Decree No. SK/OPRISK/23-0302 dated 1 May 2023.
business activities and their impact on the Company’s
As at 31 December 2024, the Committee was chaired by the
overall risk exposure;
President Director, had three members, and in possession
7. Evaluating the accuracy of the model and the validity
of a charter. Committee meetings are held at least once in
of the data used to measure risk for companies that
three months.
use models for internal purposes (internal model) in the
context of risk measurement;
Independence Statement
8. Providing recommendations to the Company’s business
All Committee members maintain their professionalism and operational functions (risk-taking functions),
and accountability at work, and refrain from taking among others, in determining the risk exposure
personal advantage, either directly or indirectly, from the limits acceptable to the Company, and/or to the Risk
Company’s activities other than their legitimate income. Management Committee, among others, in formulating
Committee members are committed to implementing the policies, strategies, and Risk Management
POJK 42/2020 provisions. framework, in accordance with their respective remit;
and
Duties and Functions 9. Preparing and submitting the risk profile reports to
the President Director or a Director who oversees the
1. Identifying risks including inherent risks in the Risk Management function and the Risk Management
Company’s business activities; Committee on a regular basis, with the frequency of
2. Developing risk measurement methods according to reporting able to be increased in the event of rapidly
the size and complexity of the Company’s business, changing market conditions.
including designing and implementing the tools needed
in the implementation of Risk Management;
3. Monitoring the implementation of the Risk
Management strategy, including monitoring the Risk
Management strategy in business and operational
functions;
4. Monitoring the overall (composite) risk position, each
type of risk, and each type of functional activity against
the given risk tolerance and predetermined limits,
as well as carry out stress testing to determine the
impact of the implementation of Risk Management
policies/strategies on the Company’s performance as
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Committee Composition
The Risk Management Committee as at 31 December 2024 comprised:
• Chairman: Francis Lay Sioe Ho
• Members:
- Sudjono
- August Rinaldi Sanoesi
- Amy Setyawati
Table 86 | Profiles and Term of Office of Members of the Risk Management Committee
Internal Position Term of Office on
Name Position Age Nationality Educational Background
in the Company the Committee
Francis Lay Chairman 76 Indonesian • Bachelor of Business President 2021–2026
Sioe Ho Administration, University Director
of Singapore (now the
National University
of Singapore or NUS),
Singapore (1972)
• Master of Business
Management, Asian
Institute of Management
(AIM), Manila, Philippines
(1975)
Sudjono Member 54 Indonesian • Bachelor of Economics in Finance Director 2021–2026
Accounting, Tarumanagara
University, Jakarta (1993)
• Master of Business
Administration (M.B.A.),
Institut Pengembangan
Manajemen Indonesia
(IPMI), Jakarta (2006)
• Enterprise Risk Manager
(ERM™), Asia Risk
Management Institute
(ARiMI) and National
University of Singapore
(NUS), Singapura (2009)
August Rinaldi Member 42 Indonesian See Table 84 Head of Risk 2022–2026
Sanoesi Management
Amy Setyawati Member 52 Indonesian Bachelor of Economics in Head of 2021–2026
Management, Satya Wacana Operational Risk
Christian University (UKSW), & KYC
Salatiga, Central Java (1996)
Table 87 | Schedule and Attendance of the Risk Management Committee Meetings
Francis Lay August Rinaldi
Date Sudjono Amy Setyawati
Sioe Ho Sanoesi
25 January 2024 √ √ √ √
18 April 2024 √ √ √ √
25 July 2024 √ √ √ √
23 October 2024 √ √ √ √
Total Attendance of Each Member 4 4 4 4
Attendance Percentage of Each Member 100% 100% 100% 100%
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Governance Statements
Information Technology (IT) Steering Committee 4. Ensuring IT compatibility with the needs of
management information systems and the needs of BFI
This committee was formed based on the BOD Decree No.
Finance’s business activities;
SK/IT/21-0113 dated 4 August 2021 to carry out the duties and
5. Reviewing the effectiveness of risk mitigation plans for
functions in accordance with POJK No. 4/POJK.05/2021 on
the implementation of IT investments and ensure the
Application of Risk Management in the Use of Information
contribution of investments to the business of a unit/
Technology by Non-Bank Financial Services Institutions
division/department;
(POJK 4/2021). The structure and duties of the Committees
6. Monitoring IT performance and efforts to improve IT
were re-established through the BOD Decree No. SK/
performance;
IT/22-0066 dated 16 March 2022. As at 31 December 2024,
7. Working towards resolving various IT-related issues
the Committee was chaired by the President Director, had
that cannot be resolved by work units of IT users and
five members, and in possession of a charter. Committee
operators in an effective, efficient and timely manner;
meetings are held at least once in six months.
and
8. Ensuring sound and proper allocation of IT resources.
Independence Statement
If necessary, the Committee may procure the services of
All Committee members maintain their professionalism a third party to assist in project implementation.
and accountability at work, and refrain from taking
personal advantage, either directly or indirectly, from the
Committee Composition
Company’s activities other than their legitimate income.
Committee members are committed to implementing The Information Technology Steering Committee as at
POJK 4/2021 provisions. 31 December 2024 comprised:
• Chairman: Francis Lay Sioe Ho
Duties and Functions • Members:
- Sutadi
1. In relation to the Department’s Business Strategic Plan,
- Sudjono
periodically reviewing the IT Department’s strategy,
- Andrew Adiwijanto
including the roadmap and required resources;
- Goklas
2. Providing recommendations for the formulation of IT
- Ari Binoto Lumbantobing
policies and procedures, and ensuring that IT policies
and procedures are implemented effectively in the work
units of the IT users and operators;
3. Monitoring the suitability and implementation of IT
projects with the IT Development Strategic Plan and
ensuring the priorities;
Table 88 | Profiles and Term of Office of Members of the IT Steering Committee
Internal Position Term of Office on
Name Position Age Nationality Educational Background
in the Company the Committee
Francis Lay Chairman 76 Indonesian See Table 86 President 2021–2026
Sioe Ho Director
Sutadi Member 50 Indonesian See Table 81 Business & Asset 2021–2026
Management
Director
Sudjono Member 54 Indonesian See Table 86 Finance Director 2021–2026
Andrew Member 56 Indonesian See Table 81 Operations 2021–2026
Adiwijanto Director
Goklas Member 46 Indonesian See Table 81 Transformation 2021–2026
Director
Ari Binoto Member 45 Indonesian • Bachelor of Science in Head of Digital 2022–2026
Lumbantobing Mechanical Engineering, & Business
University of Washington, Incubation
Seattle, USA (2001)
• Master of Science in
Mechanical Engineering,
University of California,
Berkeley, USA (2003)
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Table 89 | Schedule and Attendance of the IT Steering Committee Meetings
Francis Lay Andrew Ari Binoto
Date Sudjono Sutadi Goklas
Sioe Ho Adiwijanto Lumbantobing
1 April 2024 √ √ √ √ √ √
30 July 2024 √ √ √ √ √ √
Total Attendance of 2 2 2 2 2 2
Each Member
Attendance Percentage 100% 100% 100% 100% 100% 100%
of Each Member
BOD Committees Performance Evaluation
The BOD evaluates the performance of each of the committees based on a set of criteria, including the Company’s
performance and achievements in the aspects of concern for each respective committee against the targets that have
been set at the beginning of each year.
Based on these criteria, the BOD concluded that its three committees carried out their respective duties and
responsibilities in 2024, according to the mandate given to them.
BOC AND BOD REMUNERATION
Policy on Determining BOC Remuneration BOC’s Remuneration Structure and Amount
The structure of remuneration for all BOC members of the
The Company’s remuneration policy is based on Article
Company for 2024 consists of:
113 of the Limited Liability Company Law and Article 17
• Honorarium;
Paragraph (10) of the Company’s articles of association.
• Allowances; and
The BOC’s and the BOD’s remunerations are recommended • Performance bonus.
by the Nomination and Remuneration Committee, based
on a formula referred to in the Company’s internal policies, The AGMS on 22 May 2024 determined that the total
prevailing regulations, and taking into account the amount of the remuneration of the BOC was Rp246.3
Company’s performance. million per month after tax for 2024, and determined to give
performance bonus (tantieme) for 2024 amounting to
The Nomination and Remuneration Committee’s Rp1.7 billion. The total salary and allowances for all BOC
recommendation is submitted to the BOC and delivered members for 2024 thus amounted to Rp4.8 billion.
in the GMS. The mechanism for determining the
remuneration for the BOC is as follows:
1. The BOD, taking into account the Company’s financial Policy on Determining BOD Remuneration
condition, prepares a proposal for the amount of
remuneration for the BOC to the Nomination and In accordance with the Company’s articles of association,
Remuneration Committee; salaries and other benefits for the BOD members are
2. The Nomination and Remuneration Committee determined by the BOC, who is authorized by the AGMS.
examines the remuneration proposal from the BOD Remuneration of the BOD is determined by the BOC
and the market conditions for the relevant industry and Meeting annually.
business of a comparable size; and The AGMS approved to give power and authority to the BOC
3. Taking into account the business performance of to determine the duties and responsibilities of each BOD
the Company and its members’ contributions, the member and determine the BOD members’ remuneration.
Nomination and Remuneration Committee will make
recommendations to the BOC to obtain their approval,
in accordance with the authority granted by the GMS,
approves the amount of remuneration, and determines
the distribution of remuneration among the BOC
members. The total remuneration for the BOC and the
BOD will be reported to the Shareholders in the Annual
Report of the Company.
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Governance Statements
The mechanism for determining the remuneration for BOD BOD Remuneration Structure and Amount
is as follows:
The BOD’s remuneration structure consists of:
• The BOD, by taking into account the Company’s
financial condition, develops a proposal of remuneration • Salaries,
amount for the BOD to the Nomination and • Benefits,
Remuneration Committee; • Facilities, and
• The Nomination and Remuneration Committee • Performance bonus.
examines the proposed remuneration for the BOD Total remuneration for the BOD in 2024 amounted to
based on the duties and responsibilities of each Director, Rp31.8 billion.
the Company’s financial condition, and comparisons
with relevant industries and businesses of a comparable
size; and
• The Nomination and Remuneration Committee shall
make recommendations to the BOC Meeting for
approval, and then be brought to the GMS.
BOC AND BOD PERFORMANCE ASSESSMENT
BOC Performance Assessment assessment based on of the achievement of budget
enterprises, and individual assessments based on the
General Policy KPIs of each Director, and as part of an integral part of the
compensation scheme and provision of incentives for the
Generally, the performance of the BOC is assessed against
BOD members.
the duties stipulated in the prevailing regulations and
the articles of association of the Company as well as the Results of the performance assessment of individual BOD
mandate of the shareholders. The results of the BOC’s members are among the basic considerations, especially
performance assessment will be an inseparable part of for the shareholders, to discharge and/or reappoint BOD
the compensation and incentive schemes for the BOC members. These results serve as a means for assessing as
members. well as improving BOD effectiveness.
BOC Performance Assessment Criteria BOD Performance Assessment Criteria
The criteria for the BOC’s performance assessment at least The criteria for the BOD’s performance assessment
contains the following: are found in the KPIs. The collective and individual
performance criteria for Directors are based on the
1. Level of achievement of quorum in any of the BOC
proposal of the Nomination and Remuneration Committee
meetings, coordination meetings, and committee
or other committees that carry out the nomination and
meetings;
remuneration function, then are proposed by the BOC to
2. The Company’s contribution in the regulatory process;
shareholders for approval. The BOD’s KPIs include at least,
3. Involvement in specific assignments;
among others:
4. Commitment in advancing the interests of the
1. Contribution to the Company’s business activities;
Company; and
2. Involvement in specific assignments;
5. Compliance with the applicable regulations, the articles
3. Commitment to advancing the interests of the
of association, the GMS provisions, as well as Company
Company;
policies.
4. Compliance with the prevailing regulations, and
Company policies;
BOD Performance Assessment 5. Achievement of targets set out in the Company’s Annual
Work Plan and Management Contract; and
General Policy 6. Achievement of individual performance against the
determined targets.
Performance of the BOD and its individual members is
evaluated by the BOC. Generally, the BOD’s performance Details of the BOD performance assessment are contained
is determined based on the duties listed in the prevailing in the BOC Report in the Reports to Stakeholders chapter,
regulations and the articles of association of the Company. pages 28-29.
The results of the overall performance assessment of
the BOD and the performance of its each individual
member are based on two scoring standards, i.e., collective
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Highlights and Analysis
MEETINGS OF THE BOC, BOD,
AND JOINT MEETINGS OF THE BOC AND THE BOD
BOC Meetings and BOC–BOD Joint Meetings Minutes of BOC Meeting
In each BOC Meeting, minutes of meeting shall contain of
BOC Meeting Policy matters discussed, including the dissenting opinion from
BOC members (if any) and the decisions reached.
The BOC shall meet at least once every two months if
The minutes of meetings are signed by the Chairman of the
attended by a majority or two thirds of the BOC members.
Meeting and BOC members present at the meeting.
The BOC also holds joint meetings regularly with the
BOD. A BOC Meeting may be held after the joint meeting,
Implementation of BOC Meetings and BOC–BOD Joint
if considered necessary by one member of the BOC by
Meetings
written request of one or more members of the BOD or if
requested by one or more shareholders who together own In 2024, the BOC held 22 meetings, consisting of:
one tenth of the total shares issued by the Company with 1. 11 BOC Meetings; and
valid voting rights. 2. 11 BOC–BOD Joint Meetings.
BOC Meeting decisions are made based on a joint decision, In carrying out the functions of monitoring and providing
and if the decision is not reached by consensus, then advice to the BOD, the BOC hold joint meetings together
decisions will be made by way of voting by more than half with the BOD to discuss the implementation of decisions
of the BOC members present in the meeting. Each member made in the previous meeting, financial performance,
of the BOC who has a conflict of interest in decisions to be risk management, and other matters that may affect the
made shall not vote on any decision related to it. financial performance and operations of the Company.
The BOC also can make valid and binding decisions without
convening an authorized BOC Meeting, provided that all
the BOC members have approved the proposal and signed
the relevant documents. Decisions made in this way have
the same power as decisions made legitimately in the
official BOC Meetings.
Table 90 | Schedule and Attendance of BOC Meetings
Kusmayanto Johanes Alfonso Sunata Saurabh Narayan
Date
Kadiman Sutrisno Napitupulu Tjiterosampurno Agarwal
25 January 2024 √ √ √ √ √
20 February 2024 √ √ √ √ √
13 March 2024 √ √ √ √ √
18 April 2024 √ √ √ √ √
22 May 2024 √ √ √ √ √
20 June 2024 √ √ √ √ √
25 July 2024 √ √ √ √ √
14 August 2024 √ √ √ √ √
20 September 2024 √ √ √ √ √
23 October 2024 √ √ √ √ √
29 November 2024 √ √ √ √ √
Total Attendance of 11 11 11 11 11
Each Member
Attendance Percentage of Each 100% 100% 100% 100% 100%
Member
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Table 91 | Schedule and Attendance of the BOC in BOC-BOD Joint Meetings
Kusmayanto Johanes Alfonso Sunata Saurabh Narayan
Date
Kadiman Sutrisno Napitupulu Tjiterosampurno Agarwal
25 January 2024 √ √ √ √ √
20 February 2024 √ √ √ √ √
13 March 2024 √ √ √ √ √
18 April 2024 √ √ √ √ √
22 May 2024 √ √ √ √ √
20 June 2024 √ √ √ √ √
25 July 2024 √ √ √ √ √
14 August 2024 √ √ √ √ √
20 September 2024 √ √ √ √ √
23 October 2024 √ √ √ √ √
29 November 2024 √ √ √ √ √
Total Attendance 11 11 11 11 11
of Each Member
Attendance Percentage 100% 100% 100% 100% 100%
of Each Member
BOD Meetings BOD Meetings shall be attended by the BOD members, and
if required, officials from one level below the BOD or other
BOD Meeting Policy officials assigned by the President Director.
The BOD shall meet at least one time every month. Minutes of BOD Meeting
The BOD is also required to conduct joint meetings with
the BOC periodically at least one time every four months. Minutes of BOD Meeting shall be recorded for each BOD
Meeting and on the minutes of meeting shall be disclosed
BOD Meeting is conducted at the Company’s location or
any dissenting opinions with the BOD Meeting decisions
place of business of the Company. BOD Meetings may
(if any). Minutes of BOD Meeting shall be recorded and
also be carried out by way of teleconference, Zoom Video
documented by the Corporate Secretary, including the
Communications, or other similar digital communication
filing and distribution to the meeting participants. Each
systems, whereby the BOD members participating in the
BOD member is entitled to receive a copy of the minutes of
meeting can communicate and participate thereby being
BOD Meetings, regardless of whether they were present or
considered a present in the meeting.
not at the meetings.
BOD Meetings are chaired by the President Director. In the
event that the President Director is absent or unavailable
Implementation of BOD Meetings
for any reason, which is not required to be proven to the
other members, the BOD Meeting will be chaired by a BOD In 2024, the BOD conducted 23 meetings, comprising:
member selected by and among the BOD members in 1. 12 BOD Meetings; and
attendance.
2. 11 BOC–BOD Joint Meetings.
The BOD members may be represented in the BOD
Meeting only by another BOD member based on a power
of attorney. In the case that the party granting the authority
does not give special powers, then granted power is
deemed absolute. BOD Meetings are valid and may adopt
binding resolutions if more than half of the total BOD
members are present or represented at the meeting.
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Highlights and Analysis
Table 92 | Schedule and Attendance of BOD Meetings
Francis Lay Andrew
Date Sutadi Sudjono Goklas*
Sioe Ho Adiwijanto
25 January 2024 √ √ √ √ -
20 February 2024 √ √ √ √ -
13 March 2024 √ √ √ √ -
18 April 2024 √ √ √ √ -
22 May 2024 √ √ √ √ -
20 June 2024 √ √ √ √ √
25 July 2024 √ √ √ √ √
14 August 2024 √ √ √ √ √
20 September 2024 √ √ √ √ √
23 October 2024 √ √ √ √ √
29 November 2024 √ √ √ √ √
12 December 2024 √ √ √ √ √
Total Attendance of Each Member 12 12 12 12 7
Attendance Percentage of Each Member 100% 100% 100% 100% 100%
* Appointed Director based on the resolution of the EGMS 22 May 2024
The BOD has complied with POJK 30 Article 16 Paragraph (2), in which the BOD shall attend the BOD Meetings at least
50% of the time within one-year period.
Attendance of BOD Members at the BOC–BOD Joint Meetings
The BOD on a regular basis conducts joint meetings with the BOC.
In 2024, the BOC–BOD Joint Meetings were held 11 times.
Table 93 | Schedule and Attendance of the BOD in BOC-BOD Joint Meetings
Francis Lay Andrew
Date Sutadi Sudjono Goklas*
Sioe Ho Adiwijanto
25 January 2024 √ √ √ √ -
20 February 2024 √ √ √ √ -
13 March 2024 √ √ √ √ -
18 April 2024 √ √ √ √ -
22 May 2024 √ √ √ √ -
20 June 2024 √ √ √ √ √
25 July 2024 √ √ √ √ √
14 August 2024 √ √ √ √ √
20 September 2024 √ √ √ √ √
23 October 2024 √ √ √ √ √
29 November 2024 √ √ √ √ √
Total Attendance of Each Member 11 11 11 11 6
Attendance Percentage of Each Member 100% 100% 100% 100% 100%
* Appointed Director based on the resolution of the EGMS 22 May 2024
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Governance Statements
AUDIT COMMITTEE
Legal Basis and Main Tasks Membership Requirements
The Audit Committee was established in accordance with The Audit Committee shall consist of at least three
OJK Regulation No. 55/POJK.04/2015 on the Guidance members from Independent Commissioners and external
on Establishment and Work Implementation of Audit parties. The Audit Committee consisted of 3 members, i.e.,
Committee (POJK 55). The duties of the Audit Committee 1 Independent Commissioner as Chairman and 2 members
are to assist the BOC in carrying out management oversight from external parties. The Audit Committee is responsible
functions in accordance with the articles of association and to the BOC.
GCG principles, provide advice and assistance to the BOC in
identifying matters that require the latter’s attention, and The membership requirements for the Company’s Audit
execute other duties related to the duties of the BOC or as Committee are as follows:
assigned by the BOC. 1. Possess a strong integrity and excellent capability,
knowledge, and experience in their respective fields, as
well as good communication skills;
Audit Committee Charter 2. Able to comprehend financial statements, the
Company’s businesses particularly those related to
The Audit Committee carries out its duties and the Company’s services or activities, audit process, risk
responsibilities pursuant to the guidelines summarized in management, and laws and regulations in the capital
Audit Committee Charter. The Audit Committee Charter market as well as other related laws and regulations;
was established pursuant to the requirements of POJK 3. Able to comply with the Audit Committee’s code of
55 and as set out in the Company’s BOC Decree, with the conduct as determined by the Company;
update history as follows:
4. Willing to continuously enhance their competence
• SK/BOC/VII/2011-15 dated 15 September 2011; through education and training;
• SK/BOC/II/2013-01 dated 7 February 2013;
5. Must have at least one member with educational
• SK/BOC/I/2016-01 dated 26 January 2016; and
background and expertise in accounting and/or finance;
• SK/BOC/I/21-0020A dated 26 January 2021.
6. Is not a person who is employed in a Public Accounting
Firm, Law Consultant, Public Appraiser, or other parties
The Audit Committee Charter regulates the Audit providing assurance services, non-assurance services,
Committee’s work processes and procedures as follows: appraisal services, and/or other consultative services to
1. In relation to the Company’s internal control system, the the Company within the last six months;
Audit Committee conducts regular meetings to discuss 7. Is not a person who has worked or had the authority and
the planning of activities and the scope of internal responsibilities to plan, direct, control, or supervise the
audits for the subsequent period, as well as evaluates Company’s activities within the last six months, except
previous audit results; as the Independent Commissioner;
2. In relation to the review of risks associated with the 8. Does not own any shares in the Company, whether
Company’s business, the Audit Committee holds directly or indirectly;
discussions with the Risk Oversight Committee on risk
9. In the event that a member of the Audit Committee
management activities the Company has performed;
receives the Company shares due to a legal event,
3. The Audit Committee submits an annual accountability whether directly or indirectly, the shares shall be
report on its performance to the BOC prior to the transferred to another party within six months after the
submission of the BOC Report on its duties and acquisition of such shares;
responsibilities to be published in the Company’s Annual
10. Does not have any affiliation with any member of the
Report. The BOC shall accordingly evaluate the Audit
BOC, the BOD, or the controlling shareholders of the
Committee annually; and
Company; and
4. The Audit Committee collaborates with the Corporate
11. Does not have any business relations associated with the
Secretary for the administration of Audit Committee’s
Company activities, whether directly or indirectly.
documents and the execution of Audit Committee’s
meetings. The BOD or the Chairman of the Audit Committee may
propose candidates who are not BOC members as Audit
The Audit Committee Charter is available on the Company
Committee members. The Nomination and Remuneration
website at https://www.bfi.co.id/en/corporate/Corporate-
Committee shall subsequently conduct an interview
Good-Governance/Committee-Manual
and examine the qualifications and competence of
the candidates. After the evaluation is completed, the
Nomination and Remuneration Committee shall submit a
recommendation to the BOC regarding the appointment of
the Audit Committee members. Once the recommendation
is approved, the BOC shall instruct the BOD to issue the
appointment letter for the approved candidates.
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Audit Committee Composition
The composition of the Audit Committee as at 31 December 2024 was as follows:
• Chairman: Johanes Sutrisno (Independent Commissioner)
• Members:
- Friso Palilingan
- Edy Sugito
Table 94 | Profiles and Term of Office of Members of the Audit Committee
Educational Background and Basis and Date of Term of Office on
Name Position
Expertise Appointment the Committee
Johanes Independent Bachelor’s Degree in BOC Decree No. BOC/ 2021–2026
Sutrisno Commissioner Economics - Management, SK/I/2021-001 dated 26
and Committee Master of Business January 2021
Chairman Administration (M.B.A.), audit,
finance, risk management and
monitoring, GCG
Friso Member Bachelor’s Degree in BOC Decree No. BOC/SK/ 2021–2026
Palilingan Economics - Accounting, IV/2015-0081 dated 13 April
Master of Accounting, CPA, CA, 2015, reaffirmed by the
audit, management BOC Decree No. BOC/SK/
VI/2016-05 dated 21 June
2016 (2016-2021) and BOC
Decree No. BOC/SK/I/2021-
001 dated 26 January 2021
Edy Sugito Member Bachelor’s Degree in BOC Decree No. BOC/ 2021–2026
Economics - Accounting, SK/VI/2016-05 dated 21
capital market, custodian, June 2016 (2016-2021) and
audit reaffirmed by the BOC
Decree No. BOC/SK/I/2021-
001 dated 26 January 2021
Members of the Audit Committee serve a term no longer than that of the BOC, as stipulated in the Articles of Association.
They may be reappointed for only one subsequent term.
Audit Committee Independence
Members of the Audit Committee are professional individuals with no business relations to the Company, whether directly
or indirectly, in order to maintain their independence in the execution of their duties and responsibilities. Therefore, all
members of the Audit Committee have met the required independence, skill, experience, and integrity criteria, pursuant to
the applicable laws and regulations.
Table 95 | Independence of the Audit Committee
Financial Relationship with Family Relationship with
Controlling Controlling
Name Commissioners Directors Commissioners Directors
Shareholders Shareholders
Yes No Yes No Yes No Yes No Yes No Yes No
Johanes Sutrisno - √ - √ - √ - √ - √ - √
Friso Palilingan - √ - √ - √ - √ - √ - √
Edy Sugito - √ - √ - √ - √ - √ - √
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Governance Statements
Audit Committee’s Policies and Remuneration
The Nomination and Remuneration Committee provides recommendations to the BOC regarding the remuneration of
each member of the Audit Committee, based on the Company’s policies and market review on the remuneration of Audit
Committee. The remuneration of the Audit Committee only consists of honorarium. Members of the Audit Committee who
hold concurrent positions as members of the BOC or senior management of the controlling shareholders are not entitled
to additional remuneration as members of the Audit Committee.
Audit Committee Meetings
The Audit Committee holds regular meetings at least once every three months. An Audit Committee meeting may only
be held if attended by more than half the number of members. The decisions of the Audit Committee shall be reached by
deliberation and consensus. Each meeting shall be recorded in minutes of meeting, including any dissenting opinions.
The minutes of the meeting shall be signed by all members of the Audit Committee who are present in the meeting and
submitted to the BOC.
In 2024, the Audit Committee held four meetings. The meetings’ results were reported to the BOC in the meetings with
the BOC.
Table 96 | Profiles and Term of Office of Members of the Audit Committee
Date Johanes Sutrisno Friso Palilingan Edy Sugito
16 February 2024 √ √ √
16 April 2024 √ √ √
18 July 2024 √ √ √
21 October 2024 √ √ √
Total Attendance of Each Member 4 4 4
Attendance Percentage of Each Member 100% 100% 100%
Complaint Handling or Reporting of Alleged Violations Related to Financial Reporting
Based on the BOC’s Letter of Assignment, the Audit Committee may conduct review and investigation on any action that
is detrimental to the Company, including alleged violations related to Financial Reporting, as well as other tasks as required
by the BOC. For the review and investigation, the Audit Committee may appoint a third party to carry out the fact-finding
studies and examinations upon the approval of the BOC. All costs incurred for the appointment of the third party shall be
borne by the Company.
I have been a BFI Finance customer since 2017 after seeing a banner
advertising the product I needed. BFI Finance’s financing solutions
have helped my business maintain stable cash flow. The administrative
requirements are straightforward and I am pleased with their
services. Going forward, I hope BFI Finance will continue their digital
transformation journey, to make administrative processes even easier
and faster.
Siti Iriyanti
Industrial Machinery Financing Customer
Tangerang Selatan, Banten
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Highlights and Analysis
RISK OVERSIGHT COMMITTEE
Legal Basis and Main Tasks Risk Oversight Committee Manual
The Risk Oversight Committee assists the BOC in fulfilling The Risk Monitoring Committee carries out its duties and
the latter’s responsibilities to shareholders. Moreover, the responsibilities by referring to the work guidelines outlined
Committee is responsible for reviewing the Company’s in the Risk Monitoring Committee Charter.
principal risks as stated in the Company’s risk register and The Risk Oversight Committee Manual is published on the
for ensuring that all new or arising risks are appropriately Company website on https://www.bfi.co.id/en/corporate/
evaluated and further actions are identified. Corporate-Good-Governance/Committee-Manual?t=2.
The Risk Monitoring Committee was formerly known as
the Risk Management Committee, which was established
pursuant to the BOC Decree No. Com/JS/SK/III/2003 Risk Oversight Committee Composition
dated 18 March 2003, as ratified by BOC Decree No.
BOC/V/2020-001 dated 13 May 2020, in accordance with the The composition of the Risk Oversight Committee as at 31
provisions of POJK No. 29/POJK.05/2020. December 2024 was as follows:
• Chairman: Johanes Sutrisno (Independent
The duties and responsibilities, procedure of supervision, Commissioner)
and reporting of the Risk Oversight Committee are aligned • Member: Jono Effendy
with OJK Regulation No. 28/POJK.05/2020 on Assessment of
the Health Level of Non-Bank Financial Services Institutions
This Risk Oversight Committee composition was ratified
(POJK 28), OJK Regulation No. 44/POJK.05/2020 on Risk
by the BOC Decree No. BOC/SK/VI/2021-0092 dated 15 June
Management Application for Non-Bank Financial Services
2021, effective from 15 June 2021.
Institutions (POJK 44), and OJK Circular No. 7/SEOJK.05/2021
on Risk Management Application for Finance Companies
and Sharia Finance Companies (SEOJK 7).
Table 97 | Profiles and Term of Office of Members of the Risk Oversight Committee
Educational Background Basis and Date of Term of Office on
Name Position
and Expertise Appointment the Committee
Johanes Independent Bachelor’s Degree in BOC Decree No. BOC/SK/ 2021–2026
Sutrisno Commissioner and Economics - Management, VI/2016-05 dated 21 June
Committee Chairman Master of Business 2016 (2016-2021) and was
Administration (M.B.A.), reaffirmed by the BOC
audit, finance, risk Decree No. BOC/SK/VI/2021-
management and 0092 dated 15 June 2021
oversight, GCG
Jono Member Bachelor’s Degree in BOC Decree No. BOC/SK/ 2021–2026
Effendy Economics - Accounting, IV/2015-0081 dated 13 April
Master of Finance, 2015, was reaffirmed by the
CERP, QRGP, audit, BOC Decree No. BOC/SK/
risk management and VI/2016-05 dated 21 June 2016
oversight (2016-2021) and BOC Decree
No. BOC/SK/VI/2021-0092
dated 15 June 2021
Members of the Risk Oversight Committee serve a term no longer than that of the BOC, as stipulated in the Articles of
Association. They may be reappointed for only one subsequent term.
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Risk Oversight Committee Independence
Members of the Risk Oversight Committee are professional individuals with no business relations to the Company, whether
directly or indirectly, in order to maintain their independence in the execution of their duties and responsibilities. Therefore,
all members of the Committee have met the required independence, skill, experience, and integrity criteria pursuant to the
applicable laws and regulations.
Table 98 | Independence of the Risk Oversight Committee
Financial Relationship with Family Relationship with
Controlling Controlling
Name Commissioners Directors Commissioners Directors
Shareholders Shareholders
Yes No Yes No Yes No Yes No Yes No Yes No
Johanes Sutrisno - √ - √ - √ - √ - √ - √
Jono Effendy - √ - √ - √ - √ - √ - √
Risk Oversight Committee’s Policies and Remuneration
The Nomination and Remuneration Committee provides recommendations to the BOC regarding the remuneration of
each member of the Risk Oversight Committee, based on the Company’s policies and market review on the remuneration
of Risk Oversight Committee. The remuneration of the Risk Oversight Committee only consists of honorarium. Members
of the Risk Oversight Committee who hold concurrent positions as members of the BOC or senior management of the
controlling shareholders are not entitled to additional remuneration as members of the Risk Oversight Committee.
Risk Oversight Committee Meetings
The Risk Oversight Committee holds regular meetings at least four times every year and reports the results to the BOC.
In 2024, the Risk Oversight Committee held four meetings. The meetings’ results were reported to the BOC in the
meetings with the BOC.
Table 99 | Schedule and Attendance of the Risk Oversight Committee Meetings
Date Johanes Sutrisno Jono Effendy
13 February 2024 √ √
16 April 2024 √ √
15 July 2024 √ √
17 October 2024 √ √
Total Attendance of Each Member 4 4
Attendance Percentage of Each Member 100% 100%
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NOMINATION AND REMUNERATION COMMITTEE
Legal Basis and Main Tasks • Compile the composition and nomination processes for
members of the BOD and/or the BOC;
The Nomination and Remuneration Committee was • Develop the required policies and criteria in the
established in the Company pursuant to the BOC Decree nomination processes of candidates for the members of
No. Com/JS/SK/XII/2005-007 dated 29 December 2005. the BOD and/or the BOC;
• Assist the performance evaluation of members of the
The Nomination and Remuneration Committee is
BOD and/or the BOC;
responsible to the BOC to assist the functions and duties of
• Prepare capacity-building programs for the members of
the BOC in relation to the nomination and remuneration
the BOD and/or the BOC; and
of the members of the BOD, BOC, and other Committees
• Examine and propose qualified candidates as members
under the BOC.
of the BOD and/or the BOC to the BOC to be submitted
Since 2015, the main tasks of the Nomination and to the GMS.
Remuneration Committee have been performed in
In performing the remuneration function as referred to in
adherence to POJK No. 34/POJK.04/2014 on the Nomination
point 2(a) of the Nomination and Remuneration Committee
and Remuneration Committee of Public Companies (POJK
Guideline, the Committee shall perform the following
34).
procedures:
• Establish remuneration structure for members of the
BOD and/or the BOC;
Nomination and Remuneration Committee
• Develop remuneration policy for members of the BOD
Manual
and/or the BOC; and
• Establish remuneration amount for members of the
On 1 December 2015, BFI Finance published the Nomination
BOD and/or the BOC.
and Remuneration Committee Guideline, which is aligned
with POJK 34 and the Company’s articles of association, to
serve as a guideline for the Committee in carrying out its Nomination and Remuneration Committee
duties and responsibilities. The Committee Guideline was Composition
published pursuant to the BOC Decree No. BOC/I/2015-05,
then renewed and ratified by SK/BOC/IV/2021-0049A dated As at 31 December 2024, the composition of the Nomination
1 April 2021. and Remuneration Committee was as follows:
The Nomination and Remuneration Committee Guideline • Chairman: Alfonso Napitupulu (Independent
stipulates the duties and responsibilities, authorities, Commissioner)
composition, structure and membership requirements, • Members:
processes, and procedures for implementing tasks, - Sunata Tjiterosampurno (Commissioner)
meetings, as well as term of office of the members of the - Luki Sri Herlambang (Head of Compensation,
Nomination and Remuneration Committee. Benefits & Rewards)
This manual is published on the Company website on The composition of the Nomination and Remuneration
https://www.bfi.co.id/en/corporate/Corporate-Good- Committee was approved by the BOC Decree No. BOC/
Governance/Committee-Manual?t=1. IV/2021-0049 dated 1 April 2021, and reaffirmed through
the BOC Decree No. BOC/VI/2024-0116 dated 21 June 2024
for the 2024–2026 period, which also appointed Luki Sri
Nomination and Remuneration Committee’s Herlambang as a new member.
Work Processes and Procedures
In performing the nomination function as referred to in
point 2(b) of the Nomination and Remuneration Committee
Guideline, the Committee shall perform the following
procedures:
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Table 100 | Profiles and Term of Office of Members of the Nomination and Remuneration Committee
Term of
Educational Background and Basis and Date of
Name Position Office on the
Expertise Appointment
Committee
Alfonso Independent Bachelor’s Degree in Civil BOC Decree No. BOC/SK/ 2021–2026
Napitupulu Commissioner Law, legal consultancy, IV/2015-0081 dated 13 April
and Committee management 2015, was reaffirmed by the
Chairman BOC Decree No. BOC/SK/
VI/2016-05 dated 21 June
2016 (2016–2021), and BOC
Decree No. BOC/IV/2021-
0049 dated 1 April 2021
Sunata Commissioner and Bachelor of Business BOC Decree No. BOC/ 2021–2026
Tjiterosampurno Member Administration, Master of VI/2017-0103 dated 2 June
Finance, equity research, 2017 and was reaffirmed by
investment banking, audit, the BOC Decree No. BOC/
risk management and IV/2021-0049 dated 1 April
oversight 2021
Luki Sri Head of Bachelor of Economics in BOC Decree No. BOC/ 2024–2026
Herlambang Compensation, Accounting, employee payroll, VI/2024-0116 dated 21 June
Benefits & Rewards operational development of 2024
and Member the Company and branches
Members of the Nomination and Remuneration Committee serve a term no longer than that of the BOC, as stipulated in
the Articles of Association. They may be reappointed for only one subsequent term.
Nomination and Remuneration Committee Independence
The Nomination and Remuneration Committee shall be independent in performing its duties, and is responsible to the
BOC.
Table 101 | Independence of the Nomination and Remuneration Committee
Financial Relationship with Family Relationship with
Controlling Controlling
Name Commissioners Directors Commissioners Directors
Shareholders Shareholders
Yes No Yes No Yes No Yes No Yes No Yes No
Alfonso Napitupulu - √ - √ - √ - √ - √ - √
Sunata - √ - √ √ - - √ - √ - √
Tjiterosampurno
Luki Sri Herlambang - √ - √ - √ - √ - √ - √
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Nomination and Remuneration Committee’s The decisions of the Nomination and Remuneration
Policies and Remunerations Committee meetings shall be reached by deliberation
and consensus. Should the deliberation fail to reach a
Each member of the Nomination and Remuneration consensus, decisions shall be made based on majority
Committee is prohibited from gaining personal advantage, vote. If there is no majority vote, decisions shall be made
directly or indirectly, from BFI Finance’s business activities, through a mechanism stipulated in the Nomination and
other than their legitimate salary. Members of the BOC Remuneration Committee Guideline. In the event of
that also serve as Chair or members of the Nomination and disagreement, the difference of opinion and its reasons
Remuneration Committee are not given any additional shall be recorded in the minutes of meeting.
salary on top of their salary as members of the BOC.
Results of the Nomination and Remuneration Committee
meetings shall be recorded and documented in minutes of
meetings, which subsequently shall be submitted in writing
Nomination and Remuneration Committee
to the BOC.
Meetings
In 2024, the Nomination and Remuneration Committee
The meetings of the Nomination and Remuneration held three meetings. The meetings’ results were reported to
Committee shall be held regularly, at least once in every the BOC in the meetings with the BOC.
four months. Meetings can only be held if attended by the
majority of the Nomination and Remuneration Committee
members, and if one of the attended members is the
Committee Chair.
Table 102 | Schedule and Attendance of the Nomination and Remuneration Committee Meetings
Alfonso Sunata Luki Sri
Agenda Date
Napitupulu Tjiterosampurno Herlambang
13 February 2024 √ √ √
15 July 2024 √ √ √
Nomination 17 October 2024 √ √ √
Total Attendance of Each Member 3 3 3
Attendance Percentage of Each Member 100% 100% 100%
13 February 2024 √ √ √
15 July 2024 √ √ √
Remuneration 17 October 2024 √ √ √
Total Attendance of Each Member 3 3 3
Attendance Percentage of Each Member 100% 100% 100%
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ACCESS TO INFORMATION AND COMMUNICATION
Access to Company Information and Data Corporate Communication
The Company ensures the presence of a clear and effective The Corporate Communication Unit is responsible for
mechanism for the dissemination of information to all delivering comprehensive information, the latest news, and
stakeholders, as part of the implementation of transparency messages on behalf of the Company, while establishing
and information disclosure principles. effective coordination internally and externally to
maintain and enhance the Company’s reputation among
The Company’s information dissemination covers internal
stakeholders.
and external channels. They are tailored to the stakeholders’
needs and the type of information they require. Operating under the Corporate Communication &
Corporate Social Responsibility (CorComm & CSR)
The Company disseminates information to various
Department, the Corporate Communication unit manages
stakeholders in order to spread knowledge, understanding,
various communication activities and oversees all
and foster positive perceptions among stakeholders about
internal and external communication functions, ensuring
the Company’s policies and activities.
stakeholder satisfaction—including shareholders and
Access to the Company’s information and data is available the Government—through the provision of Company
to all stakeholders and investors through the website information and data. The Company’s communication with
bfi.co.id, which contains various information about the stakeholders is carried out in three ways:
Company’s profile, products and services, performance • External Communication (Public);
reports, financial statements, and more. • Internal Communication; and
Other information dissemination channels managed by the • Corporate Branding.
Company include:
1. Customer Care Hotline : 1500018 (one-stop solution) External Communication (Public)
2. Customer Care Email : customercare@bfi.co.id
The Company communicates with external stakeholders by
3. Customer Care WhatsApp : 08821 1500018
managing and disseminating information through various
4. Customer Care Live Chat : bfi.co.id website
channels such as mass media, social media, and other third-
5. Mobile Application : BFI Mobile
party tools. Information about the Company’s performance
6. Company’s official social media accounts:
is conveyed accurately and in a timely manner.
• Facebook : BFI Finance
• X : @BFIFinance The functions of the Company’s external communication
• Instagram : @bfifinance include:
• LinkedIn : PT BFI Finance Indonesia Tbk 1. Developing and implementing communication
• YouTube : BFI Finance Official strategies across all Company communication media;
• TikTok : @bfifinanceofficial 2. Creating publication materials to enhance the
For other information not available through the channels Company’s profile and marketing activities;
above, stakeholders can contact BFI Finance’s Head Office 3. Ensuring relevant and updated content, improving
at the following address: functionality, applying and expanding social media
strategies to enhance the Company profile;
PT BFI Finance Indonesia Tbk 4. Ensuring adherence to communication and brand
attn. Corporate Communication (CorComm) Unit guidelines and monitoring all matters related to the
BFI Tower Company brand;
Sunburst CBD Lot 1.2 5. Addressing and managing communication crises within
Jl. Kapt. Soebijanto Djojohadikusumo the Company on all fronts;
BSD City, Tangerang Selatan 15322 6. Taking responsibility for the content and information in
Indonesia all communication channels and promotional materials,
Phone: (62-21) 2965 0300, 2965 0500 including above-the-line, below-the-line, and through-
Email: corporate.communication@bfi.co.id the-line communications, both internally and externally;
Website: bfi.co.id 7. Collaborating with other related units to ensure
integrated and complementary communication
functions;
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Highlights and Analysis
8. Supporting all Company activities or events, both 4. Other Communication Channels
internal and external; The Company manages other communication
9. Partnering with communities or community channels to facilitate interactions with customers and
empowerment groups to conduct economic activities potential customers (general public), such as Customer
aligned with the Company’s vision and mission; and Care Hotline, email, WhatsApp, and social media, as
10. Establishing comprehensive cooperation with regulators described in the previous section.
to foster mutually beneficial working relationships.
The Company utilizes the following external Internal Communication
communication channels:
The Company provides employees with access to
1. Communication via the Company Website
information related to various aspects of the Company’s
The Company’s website, bfi.co.id, serves as a platform for
business and operations. This internal communication
providing the latest information about the Company’s
ensures employees have accurate and updated knowledge
financial performance on a periodic basis, corporate
about the Company’s condition, along with other
actions, and other updates about the Company,
general information relevant to the Company’s business
including:
activities. The same transparency principle applied to
• Visitors can communicate with Customer Care staff
external stakeholders is also implemented for internal
regarding financial products, file complaints or
stakeholders to enhance the quality of interaction between
suggestions, and inquire about job vacancies;
management and employees.
• Since 2016, the website has been featuring
communication and data access functions to The Company adopts a one-stop communication system
facilitate information for the public, customers, for both internal and external communications. All general
potential customers, investors, potential investors, information about the Company is managed by the
and regulators on the Company’s performance, Corporate Communication Unit.
activities, and latest achievements;
• Developments and updates to the Company
website are conducted in accordance with POJK The Company’s internal communication activities include
No. 8/POJK.04/2015 on Websites of Issuers or Public these forms:
Companies; and
• Since 2022, BFI Finance, as a business engaged in 1. Digital Media
the financial sector with the Indonesian Business The Company employs digital media for internal
Field Standard Classification (KBLI) defining its communication to minimize paper usage, improve
field as Conventional Multifinance Company, has operational efficiency, and conserve the environment.
obtained a Business Permit to Support Business Digital media used include email blasts, the Company
Activities (PB-UMKU) No. 812021319184101510001 and website, employee-targeted social media, an electronic
Domestic Electronic System Operator Registration bulletin (e-bulletin), and the Service Insight Community
Certificate (TDPSE) No. 003857.01/DJAI.PSE/07/2022 (SIC) internal portal—an electronic information center
for the Company website, bfi.co.id. The PB-UMKU specifically for employees. SIC provides updated
and Domestic TDPSE were issued by the Electronic information on business activities, employee activities,
Certification Center on 12 July 2022, on behalf of information sharing, general updates, and campaigns
the RI Minister of Communication and Information for healthy and environmentally conscious living.
and Minister of Investment/Head of the Investment 2. Meetings
Coordinating Board (BKPM). This reflects the The Company organizes meetings involving dialogue
Company’s compliance with the regulations and knowledge-sharing sessions led by senior
governing information and electronic transactions management and external speakers for employees.
(ITE). These meetings cover topics related to the Company’s
2. Company’s Social Network business activities and personal development. They
BFI Finance actively follows the latest developments in are organized by the Human Capital (HC) Department
social media to establish interactive communication as part of employee engagement programs, and are
with all stakeholders. The Company maintains online conducted online or offline, depending on the needs
communication channels through Facebook, Instagram, and objectives of each program.
X, YouTube, LinkedIn, and TikTok. These channels are
jointly managed by the Corporate Communication,
Social Media Marketing, and Customer Care Units.
3. Press Release
In 2024, BFI Finance issued 37 press releases to ensure
public information disclosure. These press releases
were published in various print and online media across
Indonesia.
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Governance Statements
Corporate Branding • Terms and conditions in promotional materials must
include specific links/QR codes directing users to a
Corporate branding coordinates various Company activities
detailed page containing complete benefits, costs,
to enhance the Company’s image among the public,
risks, terms and conditions. The inclusion can be
especially external stakeholders. The purpose of corporate
placed on the advertisement visual or in the visual
branding is to standardize and define guidelines for all
caption;
matters related to the Company’s corporate identity and
• Every advertisement must state “BFI Finance is
effectively communicate them to both external and internal
licensed and supervised by the Financial Services
stakeholders.
Authority” (and/or its Indonesian translation) in both
To manage how BFI Finance’s image and representation visuals and captions;
are presented to the public and support its communication, • Processes that bypass standard procedures or
marketing, and promotional tools, the Company has employ exaggerated language should be avoided at
adhered to its Corporate Brand Guidelines since 2017. all times. Examples of incorrect phrases include: ‘no
need to check SLIK (Financial Information Service
Corporate branding activities in 2024 included: System)’ and ‘no survey required’;
1. Ensuring that all attributes used and those carrying the 8. Conducting corporate communication training for
Company name in national or local events at branches, internal employees, including:
in all communication and promotional materials, were in • On public communication, attended by managerial-
line with the Company’s corporate identity standards; level participants across all operational offices.
2. Continuing the campaign for the Company tagline This training aimed to enhance their capacity
#SelaluAdaJalan (There is Always a Way) and its unique as Company spokespersons to establish positive
value proposition, namely Fast, Easy, and Trusted, as key communication with various stakeholder groups;
elements of promoting BFI Finance’s vision and mission • On social media management, attended by internal
as a multifinance company ready to support community employees who acted as administrators of accounts
needs and support their self-reliance programs through on behalf of the Company. This training aimed to
micro, small, medium, and even large scale enterprises; ensure that participants complied with regulations
3. Providing consultation and support to various and adhered to ethical standards in social media
Company’s work units for activities and events, including usage;
sponsorship involvement, to align with corporate 9. Publishing financial education campaigns in video
identity standards; format on YouTube, featuring explanations from
4. Offering consultation and assistance to support the financial experts along with real-life experiences shared
promotion of financing products, including registering by customers and beneficiaries with excellent credit
product trademarks for business added value and legal records, serving as examples for other customers and
protection; the public. The financial education campaign materials
5. Organizing media gatherings as part of media relations include:
programs, enabling journalists to communicate directly • Testimonials from beneficiaries regarding the
with Company management representatives over talks benefits of credit life insurance and bereavement
held in informal settings, to obtain the latest information compensation in consumer financing facilities;
on the Company’s developments; • Presentations by Certified Financial Planners (CFP)
6. Implementing sustainable finance programs to improve on the importance of protection for beneficiaries in
the quality of life and environment that benefited local consumer financing contracts;
communities and the public at large, including: • Inspirational stories from customers who have
• Digital marketing training for customers and other successfully built their businesses thanks to working
business owners; and capital financing from BFI Finance;
• ‘Pekan Raya BFI Finance #BFINgangkatUsahaLokal 10. Managing the production of printed materials such
2024’ MSME Festival, which raised the capacity of as greeting cards and Company souvenirs as a way to
business owners, attended by customers, business enhance public awareness of the Company’s existence;
communities, and the general public. The events 11. Campaigning fiduciary education to help consumers
consisted of activities such as training and business and the public better understand fiduciary rules in
mentoring, bazaar for various products, and financing agreements, the importance of responsible
entertainment; financial management, and timely installment
7. Supervising promotional materials and financing payments;
product campaigns published through conventional
and digital media, to ensure compliance with Company
and regulatory guidelines. Some provisions for
promotional or advertising materials included:
• Superlative claims must be supported by external
survey evidence or credible external assessments,
not internal evaluations;
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About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
12. Organizing financial literacy seminars in various regions products, such as Home Ownership Loans (KPR); and
and introducing financing products to business owners; 4. Inaugurating a used car trading center in Surabaya,
13. Supporting the Financial Inclusion Month (Bulan directly managed by BFI Finance.
Inklusi Keuangan/BIK) Program throughout October
The department’s activities also contribute to the
by participating in exhibitions such as Multifinance
marketing initiatives, which have been detailed in the
Day APPI 2024 held in Pontianak, West Kalimantan,
Marketing section in the Management Discussion and
and FinExpo BIK 2024 in Balikpapan, East Kalimantan,
Analysis chapter, pages 98-99.
aiming to promote easy access to financing and build
closer relationships with the public while promoting the
Company’s products and services; and
14. Hosting BFI RUN 2024, a healthy lifestyle campaign for Correspondence with OJK and IDX
customers, business partners, communities, employees,
Throughout 2024, the Company corresponded 101 times
and the general public.
with OJK and 60 times with IDX. This function is performed
by the Corporate Regulatory Compliance Unit under the
Product Promotion Corporate Compliance Department.
The Company disseminates product information to raise
customer interest in using the Company’s financing
services, attract new customers, maintain stable sales
during challenging market conditions, differentiate its
financing products from those of competitors’, and shape
customer perceptions of the Company’s products in line
with the Company’s expectations.
This function is managed by the Marketing Communication
Department (encompassing strategic promotion and event
activation functions). The activities carried out to support
marketing include:
1. Promoting financing products and services through
participation in exhibitions for machinery and heavy
equipment financing segments, such as ALLPRINT
Indonesia Expo, Surabaya Printing Expo, and Mining
Indonesia Expo;
2. Conducting meetings and appreciation events for
business partners in various cities, including sales agents
and used car dealers;
3. Launching promotional materials for new financing
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Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
CODE OF CONDUCT AND CORPORATE CULTURE
Code of Conduct Corporate Responsibilities
In the Code of Business Principles, BFI Finance
BFI Finance has established and is implementing a Code of
acknowledges five corporate responsibilities, which reflect
Conduct, i.e., a set of policies related to business ethics and
its commitment to stakeholders, as follows:
ethical conduct for its employees that govern all business
activities, to ensure their alignment with the Company’s 1. To the Shareholders
vision, mission, and culture. • BFI Finance conducts its business with an aim
to improve shareholders’ values based on GCG
The Company’s Code of Conduct is developed based on the
principles;
following GCG principles:
• BFI Finance intends to give optimum results and
• Transparency, which is implemented by ensuring that return on investment to shareholders, while still
the transparency and measurability of every step and retaining adequate fund to support the Company’s
process in the policy formulation and decision-making growth;
by the BOC, the BOD, and all levels of the Company; • BFI Finance values good relationships with its
• Independence, which is implemented by carrying shareholders by providing timely, regular, and
out its activities independently, professionally, in reliable information on the activities, financial status,
accordance with the code of conduct and standards and business outcomes of the Company.
of professionalism, and free from influence from other 2. To the Customers
parties;
BFI Finance is committed to attracting and retaining
• Accountability, which is implemented by clearly customers by providing value-added financial products
defining the responsibilities and authorities of the and services which are cost-effective and beneficial for
BOC, the BOD, and all levels of the Company in the the customers.
organizational structure and their respective job
descriptions; 3. To the Employees
• Responsibility, which is implemented by aligning the • BFI Finance values its employees as an important
management of the Company with the applicable laws resource and is committed to continuously
and regulations and sound business principles; and developing them;
• BFI Finance shall recruit, employ, train, and promote
• Fairness, which is implemented by upholding a sense
employees based on their qualifications and
of justice and equality in fulfilling the rights of the
capabilities;
stakeholders arising under agreements as well as the
• BFI Finance is responsible for creating a healthy
applicable laws and regulations.
workplace and ensuring the safety of its employees.
4. To All Stakeholders
Code of Conduct Contents
BFI Finance always fosters mutually beneficial
The Company’s Code of Conduct consists of business ethics relationships with its creditors, business partners, and
and ethical conduct, which form the foundation for the other stakeholders, and encourage these principles in its
Company principles. daily activities.
The business ethics part describes how the Company, as a 5. To the Communities
business entity, should behave, conduct, and act in an effort
As a member of the community, BFI Finance always
to balance the interests of the Company and the interests
conducts its business responsibly, by complying with
of all stakeholders, in accordance with GCG principles and
the applicable laws and regulations, and by ensuring
the Corporate Values while still maintaining the Company’s
that the Company’s activities do not violate any human
profitability.
rights. The Company’s community participation, in the
Ethical Conduct is a set of value-based rules which reflects form of donation, training, and other social activities, is
the attitude and commitment in complying with the rules intended to improve the quality of life of the surrounding
of conduct in order to maintain good name, confidentiality, communities and to yield direct benefits to the people.
and other important matters that affect the Company’s
reputation.
Business Integrity
The Company’s Code of Conduct contains Corporate Values
that are concretized in the following behaviors: BFI Finance and all of its branch offices uphold honesty,
integrity, and fairness as the foundational principles in all
1. Grow and Improve Continuously
business aspects of the Company, and expect the same
2. Respect and Care
from any parties dealing business with BFI Finance.
3. Excellent Service
All business transactions on the Company’s behalf are
4. Absolute Integrity
recorded accurately in accordance with the standard
5. Trust and Team Spirit
operating procedures and are subject to audit process. All
The essence of the Company’s Code of Conduct is further employees are expected to prioritize Company interest
reflected in the Code of Business Principles applicable in above their personal interests when conducting business
BFI Finance, as follows: duties.
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Company Asset Utilization and Protection Handling of the Violations to the Code of Conduct
BFI Finance emphasizes that each employee is responsible BFI Finance monitors the enforcement of the Company’s
for using the Company’s assets and resources in a fair Code of Conduct and provides facilities to submit
and responsible manner, including for their protection grievances related to related violations. Employees who
and preservation. All assets and resources, as well as any are found guilty of infringement shall be investigated by
opportunities that arise on the basis of one’s position, the Employee Disciplinary Violations Investigation Team,
shall be used solely for the achievement of the Company’s consisting of representatives from the Internal Audit
objectives and not for personal gain. BFI Finance employees and Human Capital Department, and shall be subject to
are prohibited from abusing their position for their own or sanctions commensurate to the type and level of violation,
other parties’ personal gain. in accordance with the applicable provisions in the
Company. This articulates BFI Finance’s commitment to the
Information Disclosure enforcement of ethics and integrity across all levels of the
organization.
BFI Finance considers information on business strategies
as its crucial assets, which shall be protected from
theft, violation, abuse, and inappropriate exposure. This
Corporate Culture
emphasizes the importance of maintaining the secrecy
of business information and prohibiting unauthorized
The Company has established core values that should
disclosure, reflecting the Company’s commitment to
be understood and adhered to as corporate culture. The
information integrity and security.
core values of the Company, which can be abbreviated as
G.R.E.A.T., are:
Insider Trading
1. Grow and Improve Continuously;
BFI Finance enforces strict regulations against insider- 2. Respect and Care;
trading on all employees. This means that non-public 3. Excellent Service;
information that may affect BFI Finance’s share price shall 4. Absolute Integrity; and
be considered as confidential until the announcement 5. Trust and Team Spirit.
thereof by a competent party (management). Employees To update and complement G.R.E.A.T., BFI New Mindset
with sensitive information that may affect the BFI Finance’s was launched, adopting a new thinking framework and
share price and related rights shall not engage in direct set of behaviors, to accelerate the digital transformation
or indirect transactions of those shares and other related processes in BFI Finance as it becomes a tech-based multi-
rights. The BOC, BOD, and all employees are committed to finance company. BFI New Mindset comprises:
continuously implementing the Company’s Integrity Pact
1. Dare to Try and Learn;
to the best of their abilities along with the implementation
2. Empower and Collaborate with Other Parties; and
of strategic policies to achieve sustainable growth.
3. Listen, Speak Up, and Take Responsibility.
Explanation on G.R.E.A.T. and BFI New Mindset is presented
Implementation and Enforcement of the Code of Conduct in the Corporate Values and Corporate Culture section in
The Company’s Code of Conduct shall be applied to the Company Profile chapter, pages 52.
all employees, including all members of the BOC, all
Committees under the BOC, the Sharia Supervisory Board,
as well as the BOD, all Committees under the BOD, and the
management. The Company’s Code of Conduct shall be
disseminated to and understood by all employees, with the
management shall set an example to their subordinates on
the implementation of the Code of Conduct.
Code of Conduct dissemination measures in 2024 were
carried out in conjunction with the dissemination of the
Company’s Core Values and ethical conduct for employees.
The Human Capital Department disseminated the Code of
Conduct through e-mail blast to all employees.
BFI Finance’s management maintains an Integrity Pact
containing the Company’s commitment to implementing
GCG principles. The BOC, BOD, and all employees are
committed to continuously applying the Company’s
Integrity Pact to the best of their ability.
The Integrity Pact of BFI Finance regulates the Guidelines
on Business Principles. the BOC, BOD, and all employees,
regardless of their positions, shall comply with the ethics
embedded in the Company’s Core Values to the highest
degree. The management and employees of the Company
must understand and abide by the core values, which are
crucial in maintaining the Company’s sustainable growth.
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Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
ANTI-CORRUPTION POLICY
BFI Finance obliges all members of the BOC, the BOD, This Anti-Corruption Policy was disseminated throughout
and all employees to uphold fair business competition, the year in 2024 in the the forms of:
sportsmanship and professionalism, as well as the 1. Anti-fraud campaign involving all employees of the
principles of GCG. Company, as a form of dissemination of the anti-
The Company is committed to creating a healthy business corruption policy and other provisions that form the
climate, avoiding any actions, behaviors, or activities that basis of the Company’s integrity;
could lead to conflicts of interest, corruption, collusion, and 2. The whistleblowing system campaign involving all
nepotism, and always putting the interest of the Company employees as a form of awareness initiative, encouraging
above personal interest, family interest, or group interest. them to report any suspected violations.
3. Distribution of a series of e-mail blasts and standing
A complete information on the Anti-Corruption Policy is banners containing messages of anti-fraud action in all
available at https://www.bfi.co.id/en/corporate/Corporate- of Company branches; and
Good-Governance/Anti-Corruption-System. 4. Establishment of provisions related to anti-fraud strategy
which contain prevention and handling of fraud, bribery,
gratuity, and other matters, including disciplinary issues
in the follow-up of sanctions affirmed by the Internal
Discipline and Compliance Committee.
PROCUREMENT POLICY
Principle and Policy Procurement System
The Company has procedures for the procurement of goods The Company consistently runs its goods and services
and services that are carried out quickly and transparently, procurement process and system through the stages
by applying the principles of GCG without conflict of of planning, preparation, selection of vendors, goods
interest. and services procurement transaction, utilization, and
management of Company assets.
The policy governing the Company’s procurement of goods
and services as well as supplier relations encompasses: This goods and services procurement system is run by the
1. Implementation of Internal Memos and Operational Company transparently and competitively, by including
Procedures for the procurement of goods and services; prospective vendors who satisfy the requirements in line
2. Procurement of goods and services is based on the with the Company’s criteria and needs. In the goods and
procurement value and level of authority, particularly services procurement process, the Company also employs
at the branch offices, to accelerate the procurement other methods, such as auction, direct appointment, and
process. Procurement of goods and services above a direct purchase, performed both conventionally and online,
certain amount shall be conducted centrally at the head in order to ensure that the quantity and quality of goods
office; and services procured by the Company are as required,
3. Major suppliers of goods and services are required obtained at the most competitive prices, and of the best
to submit complete legal documents to ensure that possible quality.
the rights and obligations of both the Company’s and The control and monitoring of goods and services
suppliers’ comply with the existing documents; procurement to fulfil needs at the head office and
4. Compliance Principle, all procurement activities comply the branches, starting from the purchasing to asset
with applicable laws and regulations and the company’s maintenance, are conducted through an integrated
internal policies; system. This allows users (parties who require the goods or
5. The Company’s Code of Conduct and Regulations services), namely branches and the head office, to monitor
prohibit employees to accept gifts of any kind from the process. The Company continuously develops the
suppliers; and system to support the ongoing improvement of its business
6. The Company conducts periodic evaluations on all processes.
suppliers to ensure that they are able to support the
mpany’s activities.
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Commitment to Continuous Improvement Fixed Assets Insurance
The Company is committed to regularly reviewing and The Company mitigates risk to protect and minimize
updating its procurement policies to adapt to regulatory the risk of damage or loss of Company fixed assets. The
changes, market dynamics, and business needs. The Company insures its fixed assets with the following
Company encourages the use of technology to improve the coverage:
efficiency of the procurement process, including through 1. Property All Risk Policy with a rider to cover risk of
the development of an e-Procurement system. earthquake to protect immovable property;
With this policy, the Company strives to create a fair, 2. Moveable All Risk Policy on the loss of movable property;
efficient, and sustainable procurement ecosystem, to 3. Insurance policy on motor vehicles; and
support the achievement of the Company’s strategic 4. Insurance policy on public liability.
objectives.
Table 103 | Purchase of Assets in 2024 by Type
Procurement Value Number of Instances
Asset Type
Rp million Percentage Unit Percentage
Vehicles 78,436 64.9% 405 15.6%
Software 23,253 19.3% 60 2.3%
Hardware 6,958 5.8% 548 21.2%
Rental 6,789 5.6% 252 9.7%
Machinery 4,268 3.5% 766 29.6%
Furniture 1,061 0.9% 558 21.6%
Total 120,765 100.0% 2,589 100.0%
Giving and Accepting Gifts The Company has a regulation that governs the giving of
gifts, bribes and similar rewards, gifts to other parties as a
As part of its efforts to maintain integrity and token of gratitude, gifts in celebration of religious holidays,
professionalism, the Company prohibits all employees, souvenirs, and mementos in the form of goods or services.
management, and related parties from accepting gifts or
Taking into account the prevailing business ethics, any
benefits of any kind from suppliers, whether directly or
employee receiving a gift of any price and any form shall
indirectly. This policy aims to:
submit a report to their direct supervisor. Accepting gifts
1. Prevent Conflicts of Interest: ensuring that all
from other parties for the purpose of promoting their
procurement decisions are based on objective
Company, a token of gratitude, religious celebrations,
considerations and not influenced by gifts or benefits;
souvenirs, or mementos, is allowed and considered
2. Maintain Transparency: creating an open work
appropriate in daily social relations, provided that:
environment free from corrupt practices; and
1. The giving is not intended for personal benefits/interests
3. Enhance Trust: preserving the Company’s reputation
and is not material in nature;
as an organization that conducts business practices
2. The giving does not affect any decision for procurement
ethically.
or goods or services; and
3. Gifts are not given continuously by the same giver to the
Company or any of its representatives.
INFORMATION DISCLOSURE POLICY
BFI Finance maintains a policy which ensures that the Each change to the share ownership as described above is
ownership of shares of public companies by any member to be reported at the latest three business days since the
of the BOD and the BOC, both directly and indirectly, be change takes place.
disclosed according to the prevailing regulations to the In 2024, the Company made five disclosures of such
authorities. information to the authorities.
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Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
PUBLIC ACCOUNTANT SERVICES
Public Accounting Firm The fee for the 2024 assignment period was Rp1,375 million,
not inclusive of VAT.
Tanubrata Sutanto Fahmi Bambang & Rekan In addition to the audit of financial statements as
mentioned above, the public accounting firm also provided
Prudential Tower 17 Floor th
auditing services to the Company, in relation to the
Jl. Jend. Sudirman Kav. 79 issuance of bonds in the financial year of 2024.
Jakarta 12910, Indonesia
Phone: (62-21) 5795 7300
Fax: (62-21) 5795 7301
www.bdo.co.id
Public Accountant
Susanto Bong, S.E., Ak., C.P.A, C.A.
The above public accounting firm has audited the
Company’s annual financial statements for nine years, since
2016.
Table 104 | Public Accounting Firm Fees
Fee Before Tax
Professional Services Provided
(Rp)
Audit the Company’s 2024 Annual Financial Statements 690,000,000
Issuance of Comfort Letters in order to support the Continuous Public Offering of 685,000,000
Obligasi Berkelanjutan VI BFI Finance Indonesia Tahap I Tahun 2024
Total 1,375,000,000
Table 105 | History of Public Accounting Firm Appointments
Report
Period Public Accounting Firm Accountant Name Opinion
Release Date
2020 Tanubrata Sutanto Fahmi Susanto Bong, S.E., Ak., C.P.A., C.A. 12 March Unmodified
Bambang & Rekan 2021 Opinion
2021 Tanubrata Sutanto Fahmi Dr. Herry Sunarto, S.E., Ak., S.H., M.B.A., 15 February Unmodified
Bambang & Rekan M.H., C.P.A., C.P.M.A., C.M.A., C.A. 2022 Opinion
2022 Tanubrata Sutanto Fahmi Santanu Chandra, C.P.A. 13 February Unmodified
Bambang & Rekan 2023 Opinion
2023 Tanubrata Sutanto Fahmi Susanto Bong, S.E., Ak., C.P.A., C.A. 23 February Unmodified
Bambang & Rekan 2024 Opinion
2024 Tanubrata Sutanto Fahmi Susanto Bong, S.E., Ak., C.P.A., C.A. 24 February Unmodified
Bambang & Rekan 2025 Opinion
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Highlights and Analysis
CAPITAL MARKET SUPPORTING INSTITUTIONS
AND PROFESSIONS
Ratings Agency Trustee
PT Fitch Ratings Indonesia PT Bank Tabungan Negara (Persero) Tbk
DBS Bank Tower 24th Floor, Suite 2403 Menara BTN
Jl. Prof. Dr. Satrio Kav. 3–5 Jl. Gajah Mada No. 1
Jakarta 12940, Indonesia Jakarta 10130, Indonesia
Tel: (62-21) 2988 6800 Tel: (62-21) 633 6789 ext. 1844-1847
Fax: (62-21) 2988 6822 www.btn.co.id
www.fitchratings.com/region/indonhesia
Fee for the 2024 assignment period was Rp233 Fee for the assignment period 2016–2024 ranged
million from 0.0088%–0.0167% of the total bonds issued.
Legal Consultant Share Registrar
Jusuf Indradewa & Partners PT Raya Saham Registra
Menara BCA (Grand Indonesia) 50th Floor Gedung Plaza Sentral 2nd Floor
Jl. M.H. Thamrin No. 1 Jl. Jend. Sudirman Kav. 47–48
Jakarta 10310, Indonesia Jakarta 12930, Indonesia
Tel.: (62-21) 2254 4117 (hunting) Tel: (62-21) 252 5666
Fax: (62-21) 2254 4367 Fax: (62-21) 252 5028
www.jusufind.com www.registra.co.id
Fee for the assignment period 2019–2024 was Fee for the assignment period 2024 was Rp301 million.
approximately 0.0138–0.0250% of the total bonds
issued.
Capital Market Institution Depository and Settlement Institution
PT Bursa Efek Indonesia PT Kustodian Sentral Efek Indonesia
(Indonesia Stock Exchange) (Indonesia Central Securities Depository)
Indonesia Stock Exchange Building, 1st Tower, 6th Floor Indonesia Stock Exchange Building, 1st Tower, 5th Floor
Jl. Jend. Sudirman Kav. 52–53 Jl. Jend. Sudirman Kav. 52–53
South Jakarta 12190, Indonesia Jakarta 12190, Indonesia
Phone: (62-21) 515 0515 Phone: (62-21) 515 2855
Fax: (62-21) 515 4153 Fax: (62-21) 5299 1199
Call Center (National): 150515 Toll Free: 0800-186-5734
www.idx.co.id www.ksei.co.id
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Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
TRANSPARENCY OF FINANCIAL AND NON-FINANCIAL
CONDITIONS NOT DISCLOSED IN OTHER REPORTS
BFI Finance compiles various reports that present financial 2. Financial Statements published every six months in the
and non-financial information transparently for the mass media, on BFI Finance website under the Press
stakeholders, and other related institutions, in a timely, Releases and Info menu, and IDX website;
complete, accurate, updated, and complete manner. 3. Quarterly Financial Statements, published in the
Information on the Company’s financial and non-financial websites of BFI Finance and IDX;
condition have been presented clearly and transparently in 4. Sustainability Report published by BFI as an inseparable
several reports, including: Integrated Annual Report, which part of its Integrated Annual Report; and
among others includes. 5. Transparency of Non-Financial Condition
BFI Finance has provided information regarding the
1. Overview of Key Financial Data including:
Company’s products in a clear, accurate, and updated
a. Share Highlights, BOC and BOD Reports, Company manner. Such information has been made available
Profile, Business Supporting Units, Management to customers, in the form of, among others, leaflets,
Discussion and Analysis on financial and business brochures or other written forms at the BFI Finance
performance, Good Corporate Governance, and outlets, in locations that are easily accessible by
Sustainability that covers the discussions on Human customers; and/or through electronic forms, such as
Capital and CSR; through BFI Finance website, an online portal that
b. Annual Financial Statements audited by Public provides information on the characteristics of financial
Accountant and Public Accounting Firm registered and insurance products in Indonesia as well as the
on OJK. The Annual Financial Statements is prepared comparison between the products.
for one financial year and presented in comparison
with the previous financial year; and
c. Statement of Responsibility by BOC and BOD for
accuracy of the Integrated Annual Report contents;
STATEMENT OF IMPLEMENTATION OF THE CORPORATE
GOVERNANCE GUIDELINES FOR PUBLIC COMPANIES
BFI Finance’s GCG implementation performance adheres to OJK Regulation No. 21/POJK.04/2015 on Implementation of
Corporate Governance Guidelines in Public Companies as amended by OJK Regulation No. 29/POJK.05/2020 and OJK
Circular No. 32/POJK.04/2015 on Corporate Governance Guidelines for Public Companies, which encompass 5 aspects, 8
principles, and 25 implementation recommendations, summed up in Table [106].
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About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
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Table 106 | Implementation of Corporate Governance Guidelines Recommendations for Public Companies
Statement of Explanation
Aspect Principle Recommendation Compliance/ (for non-
Explanation compliance)
Aspect I: Principle 1: 1. The Public Company has a Compliant -
Relationship of Improving means or technical procedure
Public Company the Value of for voting both open and closed
with Shareholders in Implementation of voting mechanisms that uphold
Ensuring Shareholders’ GMS the independence and interest
Rights of shareholders.
2. All Members of the BOD and Explanation Two members
the BOC of the Public Company given of the BOC
attend the AGMS and EGMS. did not attend
the AGMS and
the EGMS on
22 May 2024,
due to reasons
stated to and
accepted by the
GMS.
3. Summary of GMS minutes Compliant -
of meeting is provided in the
Public Company Website for at
least one year.
Principle 2: 4. The Public Company has Compliant -
Increasing communications policy with the
the Quality of shareholders or investors.
Communications
between Public 5. The Public Company discloses Compliant -
Company and its communications policy to the
Shareholders/ shareholders or investors on the
Investors Website.
Aspect II: Principle 3: 6. Determination of the number of Compliant -
Functions and Roles of Strengthening the Members of the BOC takes into
the BOC Membership and consideration the conditions of
Composition of the the Public Company.
BOC
7. Determination of BOC Compliant -
composition takes into
consideration its diversity in
terms of skills, knowledge, and
experience required.
Principle 4: 8. The BOC has its self-assessment Compliant -
Improving policy to evaluate its
the Quality of performance
Implementation
9. Self-assessment policy to Compliant -
of BOC Duties and
evaluate the BOC performance
Responsibilities
is disclosed in the Integrated
Annual Report of the Public
Company
10. The BOC has a policy regarding Compliant -
the resignation of BOC
members should they be
involved in a financial crime.
11. The BOC or the Committee Compliant -
carrying out the Nomination
and Remuneration function
prepares the succession policy in
the BOD Nomination process.
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Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
Statement of Explanation
Aspect Principle Recommendation Compliance/ (for non-
Explanation compliance)
Aspect III: Principle 5: 12. Determination of BOD Compliant -
Functions and Roles of Strengthening the composition takes into
the BOD Membership and consideration the Public
Composition of the Company’s conditions and
BOD efficacy in decision making.
13. Determination of BOD Compliant -
composition takes into
consideration its diversity in
terms of skills, knowledge and
experience required.
14. Member of the BOD in charge Compliant -
of accounting or finance has an
expertise and/or knowledge in
accounting.
Principle 6: 15. The BOD has a self-assessment Compliant -
Improving policy to evaluate its
the Quality of performance.
Implementation
16. Self-assessment policy to Compliant -
of BOD Duties and
evaluate the BOD performance
Responsibilities
is disclosed in the annual report
of the Public Company.
17. The BOD has a policy regarding Compliant -
the resignation of BOD
members should they be
involved in a financial crime.
Aspect IV: Principle 7: 18. The Public Company has a policy Compliant -
Stakeholders’ Improving to prevent insider trading.
Participation Corporate
Governance Aspect 19. The Public Company has a policy Compliant -
via Stakeholders’ on anticorruption and antifraud.
Participation 20. The Public Company has a policy Compliant -
on vendor/supplier selection and
enhancement of skills.
21. The Public Company has a policy Compliant -
on fulfilling creditors’ rights.
22. The Public Company has a Compliant -
whistleblowing system policy.
23. The Public Company has a policy Compliant -
on long-term incentive provision
to the BOD and employees.
Aspect V: Principle 8: 24. The Public Company utilizes Compliant -
Information Disclosure Enhancing information technology more
Information broadly than the website as a
Disclosure means to disclose information.
Implementation
25. The Public Company’s Compliant -
Integrated Annual Report
discloses the ultimate
beneficiary of the ownership
of its shares for at least 5%
ownership as well as the
disclosure on the ultimate
beneficiary of the ownership of
shares of the public company
via the major and controlling
shareholders.
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Highlights and Analysis
ADDRESSES OF OUTLETS
Head Office
BFI Tower
Sunburst CBD Lot 1.2
Jl. Kapt. Soebijanto Djojohadikusumo
BSD City
Tangerang Selatan 15322
Phone: (62-21) 2965 0300, 2965 0500
Fax: (62-21) 2966 0757, 2966 0758
Website: www.bfi.co.id
Branches
Java, Bali & Nusa Tenggara
Branch Address City / Regency
Jakarta Capital Region
Jakarta – Sunter Rukan Puri Mutiara Blok A No. 80 Jakarta Utara
Jl. Utama Griya, Sunter
Jakarta Utara Rukan Grand Orchard Square Blok C/20 Jakarta Utara
Jl. Terusan Kelapa Hybrida Sukapura
Jakarta Utara 2 Komplek Puri Delta Mas Blok A-3 Jakarta Utara
Jl. Bandengan Selatan Kavling 43 RT 003, RW 001
Kel. Pejagalan, Kec. Penjaringan
Jakarta – Meruya Jl. Lapangan Bola No. 1-1A Jakarta Barat
Meruya, Kebon Jeruk
Jakarta – Cengkareng Sedayu Square Blok C-02 Jakarta Barat
Jl. Outer Ring Road, Cengkareng Timur
Jakarta Timur Ruko Radin Inten Center No. 8D Jakarta Timur
Jl. Radin Inten, Duren Sawit
Jakarta Selatan Komplek Pertokoan Duta Mas Blok B2 No. 7 Jakarta Selatan
Jl. R.S. Fatmawati, Kel. Cipete, Kec. Kebayoran Baru
Jakarta Selatan 2 Jl. Raya Pasar Minggu KM 18.2 RT 12 / RW 01 Jakarta Selatan
Kel. Pejaten Timur, Kec. Pasar Minggu
Jakarta Selatan 3 Jl. Raya Pasar Minggu 12B RT 1 / RW 7 Jakarta Selatan
Kel. Kalibata, Kec. Pancoran
Jakarta – Corporate Leasing Rukan Graha Cempaka Mas Blok A No. 31 Jakarta Pusat
Jl. Let. Jend. Suprapto, Kel. Sumur Batu, Kec. Kemayoran
Banten
Tangerang Jl. Imam Bonjol No. 279–281, RT 01 / RW 04 Tangerang
Kel. Bojong Jaya, Kel. Karawaci
Tangerang 2 Kompleks Balaraja Ultimate For Business Retail Ruko C No. 3A Tangerang
Jl. Raya Serang KM. 24, RT 001 / RW 001
Desa Telagasari, Kec. Balaraja
Tangerang 3 Ruko Prabu Kian Santang No. 2 Tangerang
Jl. Prabu Kian Santang , RT 01 / RW 04. Kel. Sangiang Jaya, Kec. Periuk
Bintaro Ruko Emerald Avenue I Blok EA – A36 CBD Emerald Tangerang
Jl. Boulevard Bintaro Jaya Sektor 9 Kel. Parigi Lama, Kec. Pondok Aren
Pamulang South City Square Tangerang
Jl. Raya South City Barat No. B1-03 Kel. Pondok Cabe Udik, Kec.
Pamulang
Cikupa Citra Raya Grand Boulevard Tangerang
Blok E1 No. 286–288, RT 03 / RW 03, Desa Ciakar, Kec. Panongan
Tangerang Selatan 3 Ruko Bidex Blok F No. 18 Tangerang
Jl. Pahlawan Seribu, RT 001 / RW 004, Kel. Lengkong Gudang, Kec. Selatan
Serpong
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Governance Statements
Branch Address City / Regency
West Java
Bandung Jl. Soekarno Hatta No. 472 Bandung
Kel. Batu Nunggal, Kec. Bandung Kidul
Bandung – Lengkong Jl. Lengkong Kecil No. 12B Bandung
Bandung 3 Komplek Pergudangan Katapang Indah Lestari Ruko No. 3 Bandung
Jl. Terusan Kopo Katapang No. 611 RT03 / RW 09 KM.13,2, Kec. Katapang
Bekasi Kompleks Ruko Suncity Square Blok A No. 46–47 Bekasi
Jl. Mayor Hasibuan, Margajaya
Bekasi 2 Ruko Mega Boulevard Blok RV 2 No. 3A Bekasi
Jl. Harapan Indah Boulevard
RT 10 / RW 08 Kel. Medan Satria, Kec. Medan Satria
Bekasi 3 Ruko Grand Galaxy City Blok RGK Boulevard Raya Bekasi
Jl. Pulo Sirih Utama No. 628 RT 02 / RW 19
Kel. Jaka Setia, Kec. Bekasi Selatan
Bekasi 4 Jl. Sultan Hasanudin No. 233 Bekasi
Desa Tambun, Kec. Tambun Selatan
Bekasi 5 Ruko Mall Ciputra Blok R.2 No. 18 Bekasi
Jl. Alternative Kel. Jati Karya, Kec. Jati Sempurna
Bogor Jl. Raya Tajur No. 118E–F Bogor
RT 001 / RW 006 Kel. Pakuan, Kec. Bogor Selatan
Cibinong Cibinong City Centre A-30 Bogor
Jl. Tegar Beriman I RT 05 / RW 12 Kel. Pakansari, Kec. Cibinong
Cikampek Ruko Sudirman Center Blok A No. 6 Karawang
Jl. Jenderal Sudirman No. 100, Desa Pucung, Kec. Kotabaru
Cikarang Ruko Golden Boulevard Blok CC.5 No. 3A Cikarang
Jl. Niaga Raya, Jababeka 2, Kel. Pasir Sari, Kec. Cikarang Selatan
Cimahi Jl. Encep Kartawiria No. 64 B, RT 004 / RW 15 Cimahi
Kel. Citeureup, Kec. Cimahi Utara
Cirebon Jl. Tuparev No. 115A Cirebon
Desa Kertawinangun, Kec. Kedawung
Depok Ruko Margonda Residen No. 12A–14 Jl. Margonda Raya Kav. 461 Depok
Indramayu Jl. Raya Sleman No. 3B. RT 01 / RW 03 Indramayu
Desa Sleman Lor, Kec. Sliyeg
Karawang Jl. Jend. Ahmad Yani No. 73 Bypass, RT 04 / RW 12 Karawang
Karangpawitan Karawang Barat
Kuningan Jl. RE Martadinata 53A Cijoho Kuningan
Majalengka Jl. K.H. Abdul Halim No. 104 Majalengka
Kel. Majalengka Kulon, Kec. Majalengka
Purwakarta Jl. Taman Makam Pahlawan No. 73B, RT 11 / RW 05 Purwakarta
Kel. Purwamekar, Kec. Purwakarta
Subang Jl. Arif Rahman Hakim No. 43 – 44, RT 051 / RW 14 Subang
Kel. Cigadung, Kec. Subang
Sukabumi Jl. Brawijaya No. 4 RT 02 / RW 12 Kel. Sriwidari, Kec. Gunung Puyuh Sukabumi
Tasikmalaya Kompleks Pertokoan Plaza Asia Blok A No. 12A Jl. H.Z. Mustofa Tasikmalaya
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Highlights and Analysis
Branch Address City / Regency
Central Java
Semarang Ruko Mataram Plaza Blok D No. 03 Jl. M.T Haryono Semarang
Semarang 3 Jl. Raya Kudungmundu RT 01 / RW 25 Kel. Sendangmulyo, Semarang
Kec.Tembalang
Banjarnegara Jl. S. Parman No. 28 RT 01 / RW 04 Banjarnegara
Kel. Parakancanggah, Kec. Banjarnegara
Grobogan Ruko The Grand City Blok E Grobogan
Jl. Letjen R. Suprapto No. 61–63 Purwodadi
Jepara Jl. Pemuda No. 1A RT 03 / RW 04 Kel. Potroyudan, Kec. Jepara Jepara
Kebumen Perum Graha Mahardika 2 Kebumen
Jl. Kutoarjo D3, Kel. Selang, Kec. Kebumen
Klaten Jl. Veteran No. 256A Klaten
Kel. Bareng Lor, Kec. Klaten Utara
Kudus Ruko Bitingan Indah (Panjunan) Kudus
Jl. Ahmad Yani, B07–B08, Kel. Panjunan, Kec. Kota Kudus
Magelang Ruko Metro Square F6 Magelang
Jl. Mayjen Bambang Soegeng Mertoyudan
Pekalongan Komplek Ruko Dupan B2 No. 19 dan B2 No. 20 Pekalongan
Jl. Dr. Sutomo, Kel. Kalibaros, Kec. Pekalongan Timur
Purwokerto – Banyumas Jl. Gerliya Timur No. 35 Ruko No. 3 Kel. Teluk, Kec. Purwokerto Selatan Purwokerto
Rembang Jl. Pemuda No. 3B Rembang
Salatiga Ruko Wijaya Square Blok A3 Salatiga
Jl. Diponegoro RT 02 / RW 05, Sidorejo Lor
Solo Jl. R.M. Said No. 160C RT 2 / RW 3 Kel. Punggawan, Kec. Banjarsari Surakarta
Solo 2 Jl. Raya Solo Permai HD 03 Solo Baru Sukoharjo
Sragen Ruko Harlin Sragen Blok B-1 Sragen
Jl. Raya Sukowati, Kel. Sine, Kec. Sragen
Tegal Ruko Nirmala Estate No. 3–4 Tegal
Jl. Yos Sudarso No. 20, Kel. Mintaragen, Kec. Tegal Timur
Yogyakarta Special Region
Yogyakarta Ruko Monjali Permai Kav. 2 Sleman
Jl. Monjali Sinduadi Mlati Sleman
East Java
Surabaya Jl. Ngagel Jaya 39 Surabaya
Surabaya 2 Jl. Patimura No. 14 Surabaya
RT 06 / RW 06, Kel. Sonokwijenan, Kec. Sukomanunggal
Surabaya 3 Jl. Raya Kapas Krampung No. 139 RT 001, RW 003 Surabaya
Kel. Rangkah, Kec. Tambaksari
Banyuwangi Jl. S. Parman No. 98 Banyuwangi
Kel. Sumberrejo, Kec. Banyuwangi
Blitar Jl. Lawu RT 02 / RW 02 Blitar
Kel. Kauman, Kec. Kepanjen Kidul
Bojonegoro Jl. M.H. Thamrin 103 Bojonegoro
Gresik Ruko Green Garden Blok A-2 Gresik
Jl. Dr. Wahidin No. 3–4, Desa Dahanrejo, Kec. Kebomas
Jember Jl. Diponegoro No. 32 Ruko 32B Kel. Kepatihan, Kec. Kaliwates Jember
Jombang Jl. K.H. Wahid Hasyim No. 19 RT 001 / RW 001 Jombang
Kel. Jombang, Kec. Jombang
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Governance Statements
Branch Address Ciry / Regency
Kediri Jl. Hayam Wuruk Kediri
Kompleks Pertokoan Hayam Wuruk Trade Center Blok C No. 7–8
Lamongan Jl. Basuki Rahmat No. 203 Lamongan
Kel. Sukomulyo, Kec. Lamongan
Madiun Jl. Dr. Sutomo No. 76 Unit C Madiun
Kel. Kartoharjo, Kec. Kartoharjo
Malang Jl. R. Tumenggung Suryo No. 42, Kavling B, C, D Malang
Kel. Bunulrejo, Kec. Blimbing
Mojokerto Ruko Kranggan Permai Blok A05–06 Mojokerto
Jl. Pahlawan
Nganjuk Jl. Gatot Subroto No. 29 RT 03 / RW 04 Nganjuk
Kel. Kauman, Kec. Nganjuk
Pandaan Ruko Pandaan Central Business Kav. A3–A5 Pasuruan
Jl. Raya Bypass Pandaan RT 01 / RW 014
Desa Karangjati, Kec. Pandaan
Pasuruan Jl. Panglima Sudirman No. 40A Pasuruan
Kel. Purworejo, Kec. Purworejo
Ponorogo Jl. Jendral Sudirman No. 1 Ponorogo
Kel. Mangkujayan, Kec. Ponorogo
Sidoarjo Kompleks Ruko Gateway No. C1–C2 Sidoarjo
Jl. Raya Waru (Aloha)
Desa Sawotratap, Kec. Gedangan
Sidoarjo 2 Komplek Ruko Tiara Center 02 – 03, Sidoarjo
Kel. Pagerwojo, Kec. Buduran
Tuban Jl. Letda Sucipto No. 5A, Perbon Tuban
Tulungagung Jl. W.R. Supratman No. 103 Tulungagung
Kel. Kenayan, Kec. Tulungagung
Bali
Denpasar Jl. Gatot Subroto Barat 170X Kec. Denpasar Barat Denpasar
Denpasar 3 Pertokoan Sudirman Agung Blok C7–8 Denpasar
Jl. Jendral Sudirman, Kel. Panjer, Kec. Denpasar Selatan
Buleleng Jl. A. Yani No. 85C Buleleng
Kel. Kaliuntu, Kec. Buleleng
Gianyar Jl. Ciung Wanara No. 17 Lingkungan Candi Baru Kel. Gianyar, Kec. Gianyar
Gianyar
Tabanan Jl. Ir. Soekarno Tabanan
Kel. Banjar Anyar, Kec. Kediri
West Nusa Tenggara
Mataram Jl. Brawijaya No. 22–24, RT. 02, Lingk. Karang Kelebut Mataram
Kel. Cakranegara Selatan Kec. Cakranegara
Lombok Barat Jl. Raya Dr. Sutomo No. 1A Desa Bekele, Kec. Gerung Lombok Barat
Manggarai Jl. Wae Ces, RT 004 / RW 02 Manggarai
Kel. Mbaumuku, Kec. Langke Rembong
Sumbawa Jl. Diponegoro No. 63 Sumbawa
RT 002 / RW 010, Kel. Bugis, Kec. Sumbawa
East Nusa Tenggara
Kupang Jl. Frans Seda Blok G, RT 042 / RW 013 Kupang
Kel. Fatululi, Kec. Oebobo
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Highlights and Analysis
Sumatra
Branch Address City / Regency
North Sumatra
Medan Jl. Ir. H. Juanda No. 26 , Lingkungan IV Medan
Kel. Sukadamai, Kec. Medan Polonia
Asahan Jl. Sisingamangaraja No. 73 Asahan
Kel. Desa Kisaran Timur, Kec. Kota Kisaran Timur
Binjai Kompleks Ruko Surya Permai Binjai
Jl. T. Amir Hamzah No. 1L
Karo Jl. Veteran No. 57A Karo
Kel. Kampung Dalam, Kec. Kabanjahe
Rantauprapat Kompleks M 88, Jl. Sisingamangaraja No. 10A–B Rantauprapat
Kel. Bakaran Batu, Kec. Rantau Selatan
Padangsidimpuan Jl. Sudirman No. 8F Padangsidimpuan
Kel. Losung Batu Kec. Padangsidimpuan Utara
Pematangsiantar Kompleks Megaland Blok N No. 10 Pematangsiantar
Jl. Sangnawaluh Kel. Siopat Hulu, Kec. Siantar Timur
Riau
Pekanbaru Jl. Soekarno Hatta No. 88 Pekanbaru
Kel. Delima, Kec. Tampan
Pekanbaru 3 Jl. Setiabudi No. 89–89A Pekanbaru
Air Molek – Indragiri Hulu Jl. Jend. Sudirman RT 02 / RW 01 Indragiri Hulu
Kel. Kembang Harum, Kec. Pasir Penyu
Bagan Batu Jl. Jendral Sudirman Rokan Hilir
Kel. Bagan Batu, Kec. Bagan Sinembah
Dumai Jl. Sultan Hasanuddin, RT 14 / RW 00 Dumai
Kel. Rimba Sekampung, Kec. Dumai Kota
Pelalawan Jl. Maharaja Indah RT 001 / RW 009 Pelalawan
Pangkalan Kerinci Kota, Pangkalan Kerinci
Ujung Batu Jl. Sudirman Desa Ujung Batu Timur, Kec. Ujung Batu Rokan Hulu
Riau Islands
Tanjung Pinang Jl. D.I. Panjaitan KM. 08 Tanjung Pinang
Kel. Air Raja, Kec. Tanjung Pinang Timur
Batam Komplek King Business Center, Blok B2 No. 9–10 Batam
Jl. Raja Isa Batam Center , Kel. Belian, Kec. Batam Kota
Batam 2 Komp. Bumi Riau Makmur Blok A No. 9 Batam
Jl. Laksamana Bintan, Kel. Sei Panas, Kec. Batam Kota
West Sumatra
Padang Jl. By Pass No. KM.12 Padang
Kel. Sungai Sapih, Kec. Kuranji
Bukittinggi Jl. Raya Kapas Panji No. 49B Bukittinggi
Jambu Air, Nagari Taluak IV Suku, Kec. Banuhampu, Agam
Dharmasraya Jl. Lintas Sumatera Jorong Dharmasraya
Pasar Koto Baru
Pasaman Barat Jl. Lintas Simpang Empat Manggopo 2 KM, Pasaman Barat
Kompleks Gunung Tulas, Lintang Selatan,
Jorong Simpang Empat Kenagarian Lingkuang Aua, Kec. Pasaman
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Governance Statements
Branch Address City / Regency
Jambi
Jambi Jl. Prof. M. Yamin S.H. No. 65–66 Jambi
RT 29, Kel. Lebak Bandung, Kec. Jelutung
Muara Bungo Jl. Sudirman No. 45–46, RT 003 / RW 001 Muara Bungo
Kel. Pasir Putih, Kec. Rimbo Tengah
Muaro Jambi Jl. Lintas Timur, RT 16 / RW 02 Muaro Jambi
Kel. Sengeti, Kec. Sekernan
Rimbo Bujang Jl. Pahlawan No. 9, RT 02 / RW 03 Tebo
Kel. Mandiri Agung, Kec. Rimbo Bujang
Sarolangun Jl. Lintas Sumatera Pasar Sarolangun No. 17 RT 06 Sarolangun
Kel. Sukasari, Kec. Sarolangun
South Sumatra
Palembang Kompleks Ruko Rajawali No. B3–B4 , RT 016 / RW 012 Palembang
Kel. 9 Ilir, Kec. Ilir Timur II
Palembang 2 Jl. Sultan Mahmud Badaruddin II No. 5 RT 20 / RW 04 Palembang
Kel. Alang-Alang Lebar, Kec. Alang-Alang Lebar
Baturaja Jl. Dr. Moh. Hatta, RT 04 / RW 04 Baturaja
Kel. Sukaraya, Kec. Baturaja Timur , Ogan Komering Ulu (OKU)
Lahat Jl. Kolonel Burlian No. 95 , RT 09 / RW 03 Lahat
Kel. Bandar Agung, Kec. Lahat
Pangkalan Balai Jl. Merdeka No. 2E RT 11 / RW 04 Kel. Pangkalan Balai, Banyuasin
Kec. Banyuasin III
Prabumulih Jl. Jend. Sudirman No. 10 Prabumulih
Kel. Muara Dua, Kec. Prabumulih Timur
Bangka Belitung Islands
Pangkal Pinang Kompleks Bangka Square (Ruko No. 2) Bangka Tengah
Jl. Raya Koba KM. 5 No. 17, Kec. Pangkalan Baru
Belitung Jl. Jend. Sudirman No. 32B, RT 09 / RW 04 Belitung
Kel. Pangkal Lalang, Kec. Tanjung Pandan
Lampung
Bandar Lampung Jl. Gajah Mada No. 55 Bandar Lampung
Kota Baru, Tanjung Karang Timur
Bandar Jaya Jl. Proklamator Raya No. 28–29 Lampung Tengah
Kec. Terbanggi Besar, Bandar Jaya
Metro Jl. Jend. Sudirman No. 282 Metro
Kel. Imopuro, Kec. Metro Pusa
Pringsewu Jl. A. Yani, RT 012 / RW 01 Pringsewu
Kel. Pringsewu Utara, Kec. Pringsewu
Tulang Bawang Jl. Lintas Timur Sumatera Tulang Bawang
Kel. Dwi Warga Tunggal Jaya, Kec. Banjar Agung
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About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
Kalimantan
Branch Address City / Regency
West Kalimantan
Pontianak Jl. M. Sohor No. 45 Blok E–F, RT 05 / RW 02 Pontianak
Kel. Akcaya, Kec. Pontianak Selatan
Ketapang Jl. DI Panjaitan Nomor 37, RT 002, RW 007 Ketapang
Kel. Sampit, Kec. Delta Pawan
Sanggau Jl. Jenderal Sudirman No. 23 , RT 22 / RW 08 Sanggau
Kel. Beringin, Kec. Kapuas
Sintang Komplek Pertokoan Golden Square Sintang
Jl. Lintas Melawi No. E6, RT 003 / RW 001, Kel. Ladang, Kec. Sintang
Central Kalimantan
Palangkaraya Jl. RTA Milono KM. 3,5 No. 6–7 Palangkaraya
Kel. Menteng, Kec. Pahandut
Pangkalan Bun Jl. Pasanah (Kawitan 1), RT 23 Pangkalan Bun
Sidorejo
Sampit Jl. Jendral Sudirman KM. 1,5 No. 19, RT 43 / RW 08 Sampit
Kel. Mentawa Baru Hulu, Kec. Mentawa Baru Ketapang,
Kotawaringin Timur
South Kalimantan
Banjarmasin Jl. A. Yani KM. 7,8 No. 30 Banjarmasin
Kertak Hanyar, Kab. Banjar
Banjarbaru Jl. Ahmad Yani KM. 34,500, RT 003 / RW 002 Banjarbaru
Kel. Komet, Kec. Banjarbaru Utara
Tanah Bumbu Jl. Raya Batulicin, RT 3 / RW 1 Tanah Bumbu
Desa Sejahtera, Kampung Baru – Simpang Empat
Tanjung Jl. Ahmad Yani RT II Tanjung
Mabu’un Murung Pudak, Tabalong
East Kalimantan
Samarinda Jl. D.I. Panjaitan, Ruko No. 5–6 Samarinda
Samarinda 2 Seberang Jl. Bung Tomo, RT 09 Samarinda
Kel. Sungai Keledang, Kec. Samarinda Seberang
Balikpapan Jl. Jend. Sudirman No. 14/295, RT 06 Kel. Damai, Balikpapan
Kec. Balikpapan Selatan
Berau Jl. Pemuda, RT 09 Kel. Tanjung Redep, Kec. Tanjung Redep Berau
Bontang Ruko Primagama Bontang
Jl. Bhayangkara KM. 6 No. 16F
Paser Jl. Modang Rt 007 RW 02 Paser
Kel. Tanah Grogot, Kec. Tanah Grogot
Penajam Paser Utara Jl. Propinsi, RT 007, KM.18 Penajam Paser
Kel. Petung, Kec. Penajam Utara
Sengata Jl. A.W. Syahrani, RT 04 / RW 01 Kutai Timur
Kel. Teluk Lingga, Kec. Sengata Utara
Tenggarong Jl. Patin No. 99B Tenggarong Kutai Kartanegara
North Kalimantan
Bulungan JL. Sengkawit No. 2 Bulungan
RT 53 / RW 20
Kel. Tanjung Selor, Kec. Tanjung Selor
Tarakan Jl. Gajah Mada No. 75 Tarakan
Kel. Karang Anyar Pantai
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Governance Statements
Sulawesi
Branch Address City / Regency
North Sulawesi
Manado Jl. Bethesda No. 18, Kel. Ranotana, Kec. Sario Manado
Bitung Jl. Wolter Monginsidi No. 45, Kel. Girian Bawah, Kec. Girian Bitung
Bolaang Mongondow Jl. Trans Sulawesi Desa Bolang Itang Induk No. 26 Bolaang
Utara Kec. Bolang Itang Barat Mongondow Utara
Kotamobagu Jl. Brigjen Katamso, Kel. Kotobangun Kotamobagu
Minahasa Selatan Lingkungan IV Kel. Uwuran I, Kec. Amurang Minahasa Selatan
Tahuna – Jl. Makaampo Tahuna
Kepulauan Sangihe Kel. Sawang Bendar, Kec. Tahuna
Tomohon Jl. Samratulangi Lingkungan VI Tomohon
Kel. Matani 3, Kec. Tomohon Tengah
Gorontalo
Gorontalo Jl. Agus Salim No. 290, Kel. Wumialo, Kec. Kota Tengah Gorontalo
Marisa Graha Arwana, Jl. Trans Sulawesi Pohuwato
Kel. Buntulia Selatan, Kec. Duhiada
West Sulawesi
Mamuju Jl. Jenderal Sudirman No. 15, Kel. Simboro, Kec. Simboro Mamuju
Mamuju Utara Jl. Ir. Soekarno Kel. Pasangkayu, Kec. Pasangkayu Mamuju Utara
Polewali Mandar Ruko Andi Depu No 151 Polewali Mandar
Jl. H. Andi Depu, Kel. Takkatidung, Kec. Polewali
Central Sulawesi
Tolitoli Jl. Abdul Muis No. 16 Malosong, Kel. Baru, Kec. Baolan Tolitoli
Palu Ruko Moh. Hatta Center Palu
Jl. Dr. Moh. Hatta No. 21D–E , RT 11 / RW 03
Kel. Besusu Tengah, Kec. Palu Timur
Kotaraya Jl. I Gusti Ngurah Rai, Desa Kotaraya, Kec. Mepanga Parigi Moutong
Luwuk Jl. Yos Sudarso No. 15 , Kel. Karaton, Kec. Luwuk Banggai
Parigi Moutong Jl. Trans Sulawesi, Kel. Bantaya, Kec. Parigi Parigi Moutong
Poso Jl. Pulau Sumba No. 7, Kel. Gebangrejo, Kec. Poso Kota Poso
South Sulawesi
Makassar Jl. Hertasning Baru (Aeropala) No. 98 Makassar
Kel. Karunrung, Kec. Rappocini
Makassar 2 Jl. Kima Raya 2 No. A20, Kel. Daya, Kec. Biringkanaya Makassar
Bone Jl. Ahmad Yani, Kel. Jeppee, Kec. Tanete Riattang Barat Bone
Bulukumba Jl. Samratulangi, Dusun Lajae Bulukumba
Desa Polewali, Kec. Gantarang
Luwu Timur Jl. Trans Sulawesi, Desa Beringin Jaya, Kec. Tomoni Luwu Timur
Luwu Utara Jl. Ahmad Yani No. 76, RT 1 / RW 1 Luwu Utara
Kel. Kappuna, Kec. Masamba
Palopo Jl. Kelapa No. 66, Kel. Dangerakko, Kec. Wara Palopo
Parepare Jl. Bau Massepe No. 74 Parepare
Kel. Ujung Sabbang, Kec. Ujung
Toraja Jl. Poros Makale – Rantepao No. 474A Tana Toraja
Kel. Tambunan, Kec. Makale Utara
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About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
Branch Address City / Regency
Southeast Sulawesi
Kendari Jl. Brigjend. Moh. Yunus Bypass Kendari
Kolaka Jl. Dr. Sutomo No. 51 Kolaka
Kel. Lamokato, Kec. Kolaka
Konawe Jl. Sapati No. 15D Konawe
Kel. Tumpas, Kec. Unaha
Maluku & Papua
Branch Address City / Regency
Maluku
Ambon Perumahan Citraland The Arkade, Blok 06–07 Ambon
Jl. Wolter Monginsidi, Kel. Lateri, Kec. Baguala
Maluku Tengah Jl. Abdullah Soulissa No. 20, RT 02 / RW 03 Masohi
Kel. Namaelo, Kec. Amahai
North Maluku
Ternate Jl. Cempaka I No. 342, RT 013, RW 03 Ternate
Kel. Tanah Tinggi, Kec. Ternate Selatan
Tobelo Jl. KemaKMuran Desa Rawajaya, Kec. Tobelo Halmahera Utara
West Papua
Manokwari Jl. Trikora Wosi, Ruko No. 3, RT 01 / RW 12 Manokwari
Kel. Wosi, Kec. Manokwari Barat
Southwest Papua
Sorong Jl. Basuki Rahmat KM. 8, RT 01 / RW 08 Sorong
Kel. Klabulu, Kec. Malaimsimsa
Papua
Jayapura Komplek Ruko No. 11–12 Jayapura
Jl. Amphibi Hamadi Kel. Argapura, Kec. Jayapura Selatan
Biak Numfor Jl. Selat Sunda No. 07, Fandoi, Biak Biak Numfor
Central Papua
Nabire Jl. Merdeka No. 69 Nabire
Kel. Karang Mulia, Kec. Nabire
South Papua
Merauke Ruko Parako No. 03 Merauke
Jl. Parakomando, RT 001 / RW 001, Kel. Mandala, Kec. Merauke
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Governance Statements
KIOSKS
Java, Bali & Nusa Tenggara Kota / Kabupaten
Kiosk Address City / Regency
Jakarta Special Region
Matraman Galur Sari Raya No. 26A Blok R, RT 02 / RW 01 Jakarta Timur
Kel. Utan Kayu Selatan, Kec. Matraman
Pasar Rebo Jl. Raya PKP No. 69, RT 10 / RW 08 Jakarta Timur
Kel. Kelapa Dua Wetan, Kec. Ciracas
Tebet Gedung Regatama Blok A No. 106 Jakarta Selatan
Jl. Pariaman Kel. Manggarai, Kec. Setiabudi
Banten
Batuceper Jl. Raya Poris Indah RT 02 / RW 03 Tangerang
Kel. Poris Indah, Kec. Batuceper
Jatiuwung Jl. Raya Gatot Subroto, Kp. Jatake, RT 006 / RW 002 Tangerang
Kel. Jatake, Kec. Jatiuwung
Larangan Jl. Inpres 14 No. 1 RT 03 / RW 04 Tangerang
Kel. Gaga, Kec. Larangan
Ciputat Timur Jl. W.R. Supratman No. 3, RT 01 / RW 08 Tangerang Selatan
Kel. Cempaka Putih, Kec. Ciputat Timur
Serpong Utara Jl. Jelupang Raya No. 14 RT 003, RW 002 Tangerang Selatan
Kel. Lengkong Karya, Kec. Serpong Utara
West Java
Bekasi Timur Jl. Pengasinan, RT 002 / RW 001 Bekasi
Kel. Pengasinan Jaya, Kec. Rawalumbu
Karang Bahagia Kp. Sukamantri RT 06 / RW 01 Bekasi
Desa Sukaraya, Kec. Karang Bahagia
Bogor Utara Jl. KS. Tubun RT 1 / RW 3, No. 141 Bogor
Kel. Cibuluh, Kec. Bogor Utara
Bojong Gede Gelonggong Tengah RT 04 / RW 07 Bogor
Kel. Kedungwaringin, Kec. Bojonggede
Parung Jl. Raya Parung RT 001 / RW 006 Bogor
Kel. Parung, Kec. Parung
Klari Perumahan Puri Kosambi Blok B No. 4 Karawang
Desa Duren, Kec. Klari
East Java
Rungkut Jl. Raya Rungkut Kidul No. 54, RT 001 / RW 005 Surabaya
Kel. Rungkut Kidul, Kec. Rungkut
Malang – Kepanjen Ruko C Dusun, Jl. Raya Dawuhan, Ds Dawuhan Malang
Kel. Jatirejoyoso, Kec. Kepanjen
Driyorejo Jl. Raya Driyorejo No. 127 Gresik
Kel. Driyorejo
Menganti Jl. Raya Bringkang, RT 003 / RW 002 Gresik
Kec. Menganti
Mojosari Jl. Airlangga Nomor 91B, RT 004 / RW 001 Mojokerto
Desa Kauman, Kec. Mojosari
Porong Jl. Joyo Leksono, RT 2 / RW 2 Sidoarjo
Ds. Lajuk Porong, Kec. Porong
Taman Ruko Graha Matahari Blok C1–3 Sidoarjo
Kel. Bebekan Timur, Kec. Taman
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Sumatera
Kiosk Address City / Regency
North Sumatra
Medan Timur Jl. Gunung Krakatau No. 41 A Medan
Kel. Glugur Darat II, Kec. Medan Timur
Kalimantan
Kiosk Address City / Regency
West Kalimantan
Pontianak Timur Jl. Tanjung Raya 2 No. 99, RT 004 / RW 002 Pontianak
Kel. Saigon, Kec. Pontianak Timur
South Kalimantan
Alalak Jl. Handil Bakti RT 9 Barito Kuala
Kel. Handil Bakti, Kec. Alalak
Barabai Jl. H Abdul Muis Ridhani No. 42, RT XI / RW 004 Hulu Sungai
Kel. Barabai Timur, Kec. Barabai Tengah
Sulawesi
Kiosk Address City / Regency
North Sulawesi
Tuminting Jl. Pogidon Raya No. 103 Manado
Kel. Tumumpa Satu Lingk I, Kec. Tuminting
Mapanget Jl. A. A. Maramis Manado
Kel. Paniki Bawah Ling. III Kec. Mapanget
Bolaang / Inobonto Jl. AKD Trans Sulawesi Lingkungan VII Bolaang
Kel. Inobonto I, Kec. Bolaang Mongondow
Gorontalo
Limboto Jl. K. H. Wahid Hasyim, RT 008 / RW 03 Gorontalo
Desa Kayubulan, Kec. Limboto
Maluku dan Papua
Kiosk Address City / Regency
Maluku
Teluk Ambon Jl. Ir. Putuhena No. 3, RT 007 / RW 004 Ambon
Kel. Wayame, Kec. Teluk Ambon
Papua Barat Daya
Sorong Barat Jl. Buncis RT 09 / RW 11 Sorong
Kel. Walawele, Kec. Aimas
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SHARIA REPRESENTATIVE BRANCHES
Branch Address City / Regency
Java, Bali & Nusa Tenggara
Jakarta Meruya Syariah Jl. Lapangan Bola No. 1–1A Jakarta Barat
Kel. Kebon Jeruk, Kec. Kebon Jeruk
Jakarta Sunter Syariah Rukan Puri Mutiara Blok A No. 80 , Jl. Utama Griya, Sunter Jakarta Utara
Jakarta Utara Syariah Rukan Grand Orchard Square Blok C/20 Jakarta Utara
Jl. Terusan Kelapa Hybrida, Kel. Sukapura, Kec. Cilincing
Jakarta Timur Syariah Jl. Dewi Sartika No. 292F, RT 004 / RW 005 Jakarta Timur
Kel. Cawang, Kec. Kramat Jati
Jakarta Selatan Syariah Komplek Pertokoan Duta Mas Blok B2 No. 7 Jakarta Selatan
Jl. R.S. Fatmawati, Kel. Cipete, Kec. Kebayoran Baru
Tangerang Syariah Jl. Imam Bonjol No. 279–281, RT 01 / RW 04 Tangerang
Kel. Bojong Jaya, Kec. Karawaci
Tangerang Selatan Syariah Ruko Bidex Blok F No. 18, Jl. Pahlawan Seribu RT 001 / RW 004 Tangerang Selatan
Kel. Lengkong Gudang, Kec. Serpong
Bekasi Syariah Kompleks Ruko Suncity Square Blok A No. 46–47 Bekasi
Jl. Mayor Hasibuan, Margajaya
Bogor Syariah Jl. Raya Tajur No. 118E–F, RT 001 / RW 006 Bogor
Kel. Pakuan, Kec. Bogor Selatan
Cirebon Syariah Jl. Tuparev No. 115A, Desa Kertawinangun Kec. Kedawung Cirebon
Depok Syariah Ruko Margonda Residen No. 12A–14 Depok
Jl. Margonda Raya Kav. 461
Bandung Syariah Jl. Soekarno. Hatta No. 472 Bandung
Kel. Batu Nunggal, Kec. Bandung Kidul
Sukabumi Syariah Jl. Brawijaya No. 4 RT 02 / RW 12 Sukabumi
Kel. Sriwidari, Kec. Gunung Puyuh
Tasikmalaya Syariah Kompleks Pertokoan Plaza Asia Blok B No. 12A Tasikmalaya
Jl. H.Z. Mustofa, Kel. Tugujaya, Kec. Cihideung
Karawang Syariah Jl. Jendral Ahmad Yani No. 73 Bypass, RT 04 / RW 12 Karawang
Kel. Karangpawitan, Kec. Karawang Barat
Purwokerto Syariah Jl. Gerilya Timur No. 35, Ruko No. 3 Banyumas
Kel. Teluk, Kec. Purwokerto Selatan
Semarang Syariah Jl. Raya Kedungmundu, RT 01 / RW 25 Semarang
Kel. Sendangmulyo, Kec. Tembalang
Kudus Syariah Jl. Ahmad Yani, Ruko Bitingan Indah B-07 & B-08 Kudus
Kel. Panjunan, Kec. Kota Kudus
Solo Syariah Jl. R.M. Said No. 160C, RT 002 / RW 003 Solo
Kel. Punggawan, Kec. Banjarsari
Yogyakarta Syariah Ruko Monjali Permai Kav. 2 Yogyakarta
Jl. Monjali RT 011 / RW 034, Desa Sinduadi, Kec. Mlat
Surabaya Syariah Jl. Ngagel Jaya No. 39, Kel. Pucung Sewu, Kec. Gubeng Surabaya
Gresik Syariah Ruko Green Garden Regency A2-03 & A2-04 Gresik
Desa Dahanrejo, Kec. Kebomas
Kediri Syariah Syariah Kompleks Pertokoan Hayam Wuruk Trade Center Blok C No. 8 Kediri
Jl. Hayam Wuruk
Malang Syariah Jl. R. Tumenggung Suryo No. 42, Kavling B, C, D Malang
Kel. Bunulrejo, Kec. Blimbing
Mojokerto Syariah Ruko Kranggan Permai Blok A 05–06 Mojokerto
Jl. Pahlawan Kel. Kranggan, Kec. Prajurit Kulon
Sidoarjo Syariah Ruko Gateway Blok C-1 & C-2 Sidoarjo
Jl. Raya Waru (Aloha), Desa Sawotratap, Kec. Gedangan
Mataram Syariah Jl. Brawijaya No. 22–24, RT 02, Lingk. Karang Kelebut Mataram
Kel. Cakranegara Selatan, Kec. Cakranegara
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Highlights and Analysis
Branch Address City / Regency
Sumatra
Medan Syariah Jl. Ir. H. Djuanda No. 26, Lingkungan IV Medan
Kel. Sukadamai, Kec. Medan Polonia
Padang Syariah Jl. Khatib Sulaiman No. 63D–E Padang
Kel. Belanti Timur, Kec. Padang Utara
Batam Syariah Ruko King Business Center, Blok B2 No. 9–10 Jl. Raja Isa Batam
Kel. Belian, Kec. Batam Kota
Bukittinggi Syariah Jl. Raya Kapas Panji No. 49B Agam
Kel. Jambu Air, Kec. Banuhampu
Pekanbaru Syariah Jl. Setiabudi No. 88–89A Pekanbaru
Kel. Rintis, Kec. Lima Puluh
Jambi Syariah Jl. Prof. M. Yamin S.H. No. 65–66, RT 29 Kel. Lebak Bandung, Jambi
Kec. Jelutung
Palembang Syariah Kompleks Ruko Rajawali No. B3–B4, RT 016, RW 012 Kel. 9 Ilir, Palembang
Kec. Ilir Timur II
Lampung Syariah Jl. Gajah Mada No. 55 Kel. Kota Baru, Bandar Lampung
Kec.Tanjung Karang Timur
Kalimantan
Pontianak Syariah Jl. M. Sohor No. 45 RT 05 / RW 02 Pontianak
Kel. Akcaya, Kec. Pontianak Selatan
Palangkaraya Syariah Jl. RTA Milono KM. 3,5 No. 6–7 Palangkaraya
Kel. Menteng, Kec. Jekan Raya
Banjarmasin Syariah Jl. A. Yani KM. 7,8 No. 30 Banjarmasin
Kel. Manarap Lama, Kec. Kertak Hanyar
Samarinda Syariah Jl. D.I. Panjaitan, Ruko No. 5–6 Samarinda
Kel. Sungai Pinang Dalam, Kec. Samarinda Utara
Balikpapan Syariah Jl. Jenderal Sudirman No. 14/295 RT 06 Kel. Damai, Balikpapan
Kec. Balikpapan Selatan
Sulawesi
Gorontalo Syariah Jl. Agus Salim No. 290 Gorontalo
Kel. Wumialo, Kec. Kota Tengah
Makassar Syariah Jl. Hertasning Baru (Aeropala) Makassar
Kel. Karunrung, Kec. Rappocini
Kendari Syariah Jl. Brigjend. Moh. Yunus Kendari
Kel. Bende, Kec. Baruga
Maluku & Papua
Ternate Syariah Jl. Cempaka I Nomor 342 Ternate
RT 013 / RW 03 Kel. Tanah Tinggi, Kec. Ternate Selatan
Sorong Syariah Jl. Basuki Rahmat KM. 8 Sorong
RT 01 / RW 08
Kel. Klabulu, Kec. Malaimsimsa
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GLOSSARY
AEI Asosiasi Emiten Indonesia (Indonesian Covid-19 Coronavirus Disease 2019
Public-Listed Companies Association)
CPA Certified Public Accountant
AGMS Annual General Meeting
of Shareholders CPDM Corporate Program Development and
Management
AISI Asosiasi Industri Sepeda Motor
Indonesia (Association of Indonesia CS Customer Service
Motorcycle Industry)
CSI Customer Satisfaction Index
AML-CFT- Anti-Money Laundering, Combating
CSR Corporate Social Responsibility
CPF the Financing of Terrorism, and
Counter-Proliferation Financing of DF Dealer Financing
Weapons of Mass Destruction
DKI Daerah Khusus Ibukota (Special
API Application Programming Interface Capital Region of Jakarta)
APINDO Asosiasi Pengusaha Indonesia DSAK IAI Dewan Standar Akuntansi Keuangan
(Indonesian Employers’ Association) Ikatan Akuntan Indonesia (Financial
Accounting Standards Board of the
APPI Asosiasi Perusahaan Pembiayaan
Institute of Indonesia Chartered
Indonesia (Indonesian Financial
Accountants)
Services Association or IFSA)
DSN-MUI Dewan Syariah Nasional-Majelis
B2B Business-to-Business
Ulama Indonesia (National Sharia
B2B2C Business-to-Business-to-Consumer Board-Indonesian Ulema Council)
B2C Business-to-Consumer e-GMS Electronic-General Meeting of
Shareholders
BFIN BFI Finance ticker symbol
e-KYC Electronic-Know Your Customer
BI Bank Indonesia, Business Intelligence
(Power BI) EGMS Extraordinary General Meeting
of Shareholders
BI7DRR Bank Indonesia 7-day (Reverse) Repo
Rate ERM Enterprise Risk Manager
BIK Bulan Inklusi Keuangan (Financial ESG Environmental, Social, and Governance
Inclusion Month)
EV electric vehicle
BOC Board of Commissioners
FAR Financing-to-Asset Ratio
BOD Board of Directors
FGD Focus Group Discussion
BPJS Badan Penyelenggara Jaminan Sosial
FIT PT Finansial Integrasi Teknologi
(Social Security Administration Agency)
(subsidiary)
BPSK Badan Penyelesaian Sengketa
FLI Financial Literacy and Inclusion
Konsumen (Consumer Dispute
Settlement Agency) G20 Group of Twenty
BSD Bumi Serpong Damai (a city area in GAIKINDO Gabungan Industri Kendaraan
South Tangerang, Banten Province) Bermotor Indonesia (The Association of
Indonesia Automotive Industries)
CA Credit Analyst, Chartered Accountant
GCG Good Corporate Governance
CBD Central Business District
GDP Gross Domestic Product
CO2 carbon dioxide
GENCARKAN National Financial Literacy Movement
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Highlights and Analysis
GJ gigajoule KYC Know Your Customer
GM General Manager LAPS SJK Lembaga Alternatif Penyelesaian
Sengketa Sektor Jasa Keuangan
GMS General Meeting of Shareholders (Alternative Institution for Dispute
Resolution in the Financial Services
G.R.E.A.T. Company Core Values
Sector)
HC Human Capital
LSP Lembaga Sertikasi Profesi
HR Human Resources (Professional Certification Body)
IAI Ikatan Akuntan Indonesia (Institute of m3 cubic meter
Indonesia Chartered Accountants)
MCB Mandatory Convertible Bond
IAPI Ikatan Akuntan Publik Indonesia
M.Kn. Magister Kenotariatan
(Indonesian Institute of Certified Public
(Master of Notary Affairs)
Accountants)
M.H. Magister Hukum (Master of Law)
IDR rupiah
M-BEAT Mobile BFI Edustream and Training
IDX Indonesia Stock Exchange
(Bursa Efek Indonesia or BEI) MESOP Management and Employee Stock
Ownership Program
IHSG Indeks Harga Saham Gabungan
(Composite Share Price Index) MIS Management Information System
IFRS International Financial Reporting MPP Manpower Planning
Standards
MPV Multipurpose Vehicle
IIRC International Integrated Reporting
Council MSMEs Micro, Small, and Medium Enterprises
IKNB Industri Keuangan Non-Bank MTN Medium Term Notes
(Non-Bank Financial Institutions)
NDF Non-Dealer Financing
IMBT Ijarah Muntahiyah Bittamlik (Islamic
Lease Agreement) NPF Non-Performing Financing
IR Integrated Reporting NPS Net Promoter Score
ISAK Interpretasi Standar Akuntansi OHSMS Occupational Health and Safety
Keuangan (Interpretation of Financial Management System
Accounting Standards)
OJK Otoritas Jasa Keuangan
ISO International Organization for (Financial Services Authority)
Standardization
P2P peer-to-peer
IT Information Technology
PB-UMKU Perizinan Berusaha untuk Menunjang
ITE Informasi dan Transaksi Elektronik Kegiatan Usaha (Business Permit to
(Information and Electronic Support Business Activities)
Transactions)
PBF Property-Backed Financing
KPI Key Performance Indicator
PMO Project Management Office
KPR Kredit Pemilikan Rumah
POJK Peraturan Otoritas Jasa Keuangan
(Home Mortgage)
(Financial Services Authority
KSEI Kustodian Sentral Efek Regulation or OJK Regulation)
Indonesia (Indonesian Central
PPATK Pusat Pelaporan dan Analisis
Securities Depository)
Transaksi Keuangan (Financial
kWh kilowatt-hour Transaction Reporting and Analysis
Center)
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PPL Pendidikan Profesional Berkelanjutan SIPESAT Sistem Informasi Penggunaan Jasa
(Continuing Professional Education) Terpadu (Integrated Service Usage
Information System)
PPPK Pusat Pembinaan Profesi Keuangan
(Financial Profession Development SK Surat Keputusan (Decree)
Center)
SLA Service Level Agreement
PSAK Pernyataan Standar
Akuntansi Keuangan (Statements of SLIK Sistem Layanan Informasi Keuangan
Financial Accounting Standards) (Financial Information Service System)
PT Perseroan Terbatas SMEs Small and Medium-sized Enterprises
(Limited Liability Company)
SMS Short Message Service
QR Quick Response (QR code)
SOP Standard Operating Procedure
RAKB Rencana Aksi Keuangan
SPPI PT Sertifikasi Profesi Pembiayaan
Berkelanjutan
Indonesia
(Sustainable Finance Action Plan)
SR Sustainability Report
RI Republic of Indonesia
SSB Sharia Supervisory Board
ROAA Return on Average Assets
TBA To be announced
ROAE Return on Average Equity
TC SARL Trinugraha Capital
Rp rupiah
TCC Trinugraha Capital & Co SCA
RTC Regional Training Center
TDPSE Tanda Daftar Penyelenggara Sistem
S.H. Sarjana Hukum (Bachelor of Law)
Elektronik (Electronic System Operator
SBU Sharia Business Unit Registration Certificate)
SDGs Sustainable Development Goals UBO Ultimate Beneficial Owner
SDN Sekolah Dasar Negeri US United States of America
SEOJK Surat Edaran Otoritas Jasa Keuangan USD United States dollar
(Financial Services Authority Circular or
UU PT Undang-Undang Perseroan Terbatas
OJK Circular)
(Law on Limited Liability Companies)
SFAS Statement of Financial
VAT Value-Added Tax
Accounting Standards
SIC Service Insight Community
SIPENDAR Sistem Informasi Terduga Pendanaan
Terorisme (Information System for
Suspected Terrorism Financing)
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08 ANNUAL FINANCIAL
STATEMENTS
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Highlights and Analysis
PT BFI FINANCE INDONESIA Tbk
DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARY
LAPORAN KEUANGAN KONSOLIDASIAN/
CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024/
FOR THE YEAR ENDED 31 DECEMBER 2024
DAN/AND
LAPORAN AUDITOR INDEPENDEN/
INDEPENDENT AUDITORS’ REPORT
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PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
LAPORAN KEUANGAN KONSOLIDASIAN CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
DAFTAR ISI CONTENTS
Pernyataan Direksi Directors’ Statement
Ekshibit/
Exhibit
Laporan Posisi Keuangan Konsolidasian A Consolidated Statement of Financial Position
Laporan Laba Rugi dan Penghasilan Komprehensif Consolidated Statement of Profit or Loss and
Lain Konsolidasian B Other Comprehensive Income
Laporan Perubahan Ekuitas Konsolidasian C Consolidated Statement of Changes in Equity
Laporan Arus Kas Konsolidasian D Consolidated Statement of Cash Flows
Catatan atas Laporan Keuangan Konsolidasian E Notes to the Consolidated Financial Statements
Laporan Auditor Independen Independent Auditors’ Report
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Highlights and Analysis
SURAT PERNYATAAN DIREKSI DIRECTORS’ STATEMENT
TENTANG TANGGUNG JAWAB ATAS REGARDING THE RESPONSIBILITY OF
LAPORAN KEUANGAN KONSOLIDASIAN THE CONSOLIDATED FINANCIAL STATEMENTS
PADA TANGGAL DAN UNTUK TAHUN YANG BERAKHIR AS OF AND FOR THE YEAR ENDED
31 DESEMBER 2024 31 DECEMBER 2024
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
Kami yang bertanda tangan di bawah ini: We, the undersigned:
1. Nama : Sutadi 1. Name : Sutadi
Alamat Kantor : BFI Tower - Sunburst CBD Lot 1.2 Office Address : BFI Tower - Sunburst CBD Lot 1.2
Jl. Kapt. Soebijanto Djojohadikusumo, Jl. Kapt. Soebijanto Djojohadikusumo
BSD City, Tangerang Selatan, 15322 BSD City, Tangerang Selatan, 15322
Alamat Rumah : Taman Mediteranean, Jl. Telaga Warna Residential : Taman Mediteranean, Jl. Telaga Warna
No.26, Lippo, RT 006 RW 008, Address No.26, Lippo, RT 006 RW 008,
Bencongan Indah, Kelapa Dua, Bencongan Indah, Kelapa Dua,
Tangerang, Banten Tangerang, Banten
Nomor Telepon : 021 - 2965 0300, 2965 0500 Telephone : 021 - 2965 0300, 2965 0500
Jabatan : Presiden Direktur Title : President Director
2. Nama : Sudjono 2. Name : Sudjono
Alamat Kantor : BFI Tower - Sunburst CBD Lot 1.2 Office Address : BFI Tower - Sunburst CBD Lot 1.2
Jl. Kapt. Soebijanto Djojohadikusumo Jl. Kapt. Soebijanto Djojohadikusumo,
BSD City, Tangerang Selatan, 15322 BSD City, Tangerang Selatan, 15322
Alamat Rumah : Taman Provence, Blok 3 A9 No. 36 Residential : Taman Provence, Blok 3 A9 No. 36
RT 002 RW 025, Kelurahan Lengkong Address RT 002 RW 025, Kelurahan Lengkong
Wetan, Kecamatan Serpong, Wetan, Kecamatan Serpong,
Tangerang Selatan Tangerang Selatan
Nomor Telepon : 021 - 2965 0300, 2965 0500 Telephone : 021 - 2965 0300, 2965 0500
Jabatan : Direktur Keuangan Title : Finance Director
menyatakan bahwa: declare that:
1. Kami bertanggung jawab atas penyusunan dan penyajian laporan 1. We are responsible for the preparation and presentation of
keuangan konsolidasian PT BFI Finance Indonesia Tbk dan Entitas PT BFI Finance Indonesia Tbk and its Subsidiary’s consolidated
Anaknya; financial statements;
2. Laporan keuangan konsolidasian PT BFI Finance Indonesia Tbk 2. PT BFI Finance Indonesia Tbk and its Subsidiary’s consolidated
dan Entitas Anaknya telah disusun dan disajikan sesuai dengan financial statements have been prepared and presented in
Standar Akuntansi Keuangan di Indonesia; accordance with the Indonesian Financial Accounting Standards;
3.a. Semua informasi dalam laporan keuangan konsolidasian 3.a. All information contained in PT BFI Finance Indonesia Tbk and
PT BFI Finance Indonesia Tbk dan Entitas Anaknya telah dimuat its Subsidiary’s consolidated financial statements have been
secara lengkap dan benar; disclosed in a complete and truthful manner;
b. Laporan keuangan konsolidasian PT BFI Finance Indonesia Tbk b. PT BFI Finance Indonesia Tbk and its Subsidiary’s consolidated
dan Entitas Anaknya tidak mengandung informasi atau fakta financial statements do not contain misleading material
material yang tidak benar, dan tidak menghilangkan informasi information or facts, and do not omit material information and
atau fakta material; facts;
4. Kami bertanggung jawab atas sistem pengendalian internal 4. We are responsible for PT BFI Finance Indonesia Tbk and its
dalam PT BFI Finance Indonesia Tbk dan Entitas Anaknya. Subsidiary’s internal control system.
Demikian pernyataan ini dibuat dengan sebenarnya. We certify the accuracy of this statement.
Atas nama dan mewakili Direksi / For and on behalf of the Board of Directors
Tangerang Selatan, 24 Februari 2025 / South Tangerang, 24 February 2025
Sutadi Sudjono
Presiden Direktur / President Director Direktur Keuangan / Finance Director
252 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
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Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit A Exhibit A
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
LAPORAN POSISI KEUANGAN KONSOLIDASIAN CONSOLIDATED STATEMENT OF FINANCIAL POSITION
PER 31 DESEMBER 2024 AS OF 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
Catatan/ 31 Desember/December
Notes 2024 2023
ASET ASSETS
KAS DAN SETARA KAS 2e,f,4 1.614.126 1.739.659 CASH AND CASH EQUIVALENTS
PIUTANG PEMBIAYAAN FINANCING RECEIVABLES
– setelah dikurangi cadangan kerugian – net of allowance for Impairment
penurunan nilai sebesar Rp 814.604 losses of Rp 814,604 and
dan Rp 764.120 pada tanggal 2e,g,h,i Rp 764,120 as of
31 Desember 2024 dan 2023 5 22.012.814 20.706.393 31 December 2024 and 2023
PIUTANG IJARAH DAN IMBT IJARAH AND IMBT RECEIVABLES
– setelah dikurangi cadangan kerugian – net of allowance for impairment
penurunan nilai sebesar Rp 3.012 losses of Rp 3,012 and
dan Rp 1.047 pada tanggal Rp 1,047 as of
31 Desember 2024 dan 2023 2e,j,n,6 83.597 52.769 31 December 2024 and 2023
PIUTANG LAIN-LAIN OTHER RECEIVABLES
– PIHAK KETIGA 2e,k,7 292.500 250.715 – THIRD PARTIES
ASET DERIVATIF 2e,l,w,8 27.654 56.657 DERIVATIVE ASSETS
BEBAN DIBAYAR DI MUKA DAN PREPAID EXPENSES AND
UANG MUKA 2m,9 20.139 34.437 ADVANCES
ASET TETAP FIXED ASSETS
– setelah dikurangi akumulasi penyusutan - net of accumulated depreciation of
sebesar Rp 695.356 dan Rp 624.202 pada Rp 695,356 and Rp 624,202 as of
tanggal 31 Desember 2024 dan 2023 2o,10 672.545 720.827 31 December 2024 and 2023
ASET HAK-GUNA RIGHT-OF-USE ASSETS
- setelah dikurangi akumulasi penyusutan - net of accumulated depreciation of
sebesar Rp 33.518 and Rp 76.631 pada Rp 33,518 and Rp 76,631 as of
tanggal 31 Desember 2024 dan 2023 2p,11 43.257 41.025 31 December 2024 and 2023
ASET TAKBERWUJUD INTANGIBLE ASSETS
– setelah dikurangi akumulasi amortisasi - net of accumulated amortization of
sebesar Rp 228.027 dan Rp 174.496 pada Rp 228,027 and Rp 174,496 as of
tanggal 31 Desember 2024 dan 2023 2q,12 199.409 255.166 31 December 2024 and 2023
ASET PAJAK TANGGUHAN 2r,14c 152.259 131.963 DEFERRED TAX ASSETS
ASET LAIN-LAIN 2e 1.520 1.824 OTHER ASSETS
JUMLAH ASET 25.119.820 23.991.435 TOTAL ASSETS
Lihat Catatan atas Laporan Keuangan Konsolidasian pada See accompanying Notes to the Consolidated Financial Statements on
Ekshibit E terlampir yang merupakan bagian yang tidak terpisahkan Exhibit E which are an integral part of
dari Laporan Keuangan Konsolidasian secara keseluruhan the Consolidated Financial Statements taken as a whole
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 253
Page 254
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit A/2 Exhibit A/2
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
LAPORAN POSISI KEUANGAN KONSOLIDASIAN CONSOLIDATED STATEMENT OF FINANCIAL POSITION
PER 31 DESEMBER 2024 AS OF 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
Catatan/ 31 Desember/December
Notes 2024 2023
LIABILITAS DAN EKUITAS LIABILITIES AND EQUITY
LIABILITAS LIABILITIES
Pinjaman yang diterima 2e,s,x,13 10.822.571 8.665.860 Fund borrowings
Surat berharga yang diterbitkan Securities issued
- setelah dikurangi biaya emisi surat - net of unamortized securities
berharga yang belum diamortisasi issuance cost of
sebesar Rp 7.123 dan Rp 9.225 pada Rp 7,123 and Rp 9,225 as of
tanggal 31 Desember 2024 dan 2023 2e,t,15 2.935.877 4.720.775 31 December 2024 and 2023
Beban akrual 2e,x,16 301.576 324.121 Accrued expenses
Utang dividen 2ac,18 1.973 788 Dividend payables
Utang pajak 2r,14a 173.291 199.717 Taxes payable
Utang lain-lain – Pihak ketiga 2e,19 552.792 437.423 Other payables – Third parties
Liabilitas imbalan pasca-kerja 2u,17 150.075 142.955 Post-employment benefit liabilities
JUMLAH LIABILITAS 14.938.155 14.491.639 TOTAL LIABILITIES
EKUITAS EQUITY
Ekuitas yang dapat diatribusikan Equity attributable to owners
kepada pemilik entitas induk of the parent
Modal saham - nilai nominal Share capital – par value of
Rp 25 (nilai penuh) per saham Rp 25 (full amount) per share
Modal dasar - Authorized capital –
20.000.000.000 saham 20,000,000,000 shares
Modal ditempatkan dan disetor Issued and fully paid capital –
penuh – 15.967.115.620 saham 20 399.178 399.178 15,967,115,620 shares
Tambahan modal disetor - neto 21 609.459 609.459 Additional paid-in capital – net
Saham treasuri 2z,20 (232.957) (232.957) Treasury stock
Penghasilan komprehensif lain Other comprehensive income
(Kerugian) keuntungan kumulatif atas Cummulative (loss) gain on derivative
instrumen derivatif untuk lindung nilai instrument for cash flows
arus kas – neto 2l,8,33 (65.416) 666 hedges – net
Keuntungan pengukuran kembali Gain on remeasurement of
program aktuarial manfaat pasti 2u,17,33 74.979 64.537 defined benefit actuarial program
Saldo laba Retained earnings
Telah ditentukan penggunaannya 125.000 120.000 Appropriated
Belum ditentukan penggunaannya 9.270.860 8.538.215 Unappropriated
10.181.103 9.499.098
Kepentingan nonpengendali 562 698 Non-controlling interests
JUMLAH EKUITAS 10.181.665 9.499.796 TOTAL EQUITY
JUMLAH LIABILITAS DAN EKUITAS 25.119.820 23.991.435 TOTAL LIABILITIES AND EQUITY
Tangerang Selatan, 24 Februari 2025 / South Tangerang, 24 February 2025
Sudjono
Direktur Keuangan / Finance Director
Lihat Catatan atas Laporan Keuangan Konsolidasian pada See accompanying Notes to the Consolidated Financial Statements on
Ekshibit E terlampir yang merupakan bagian yang tidak terpisahkan Exhibit E which are an integral part of
dari Laporan Keuangan Konsolidasian secara keseluruhan the Consolidated Financial Statements taken as a whole
254 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 255
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit B Exhibit B
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
LAPORAN LABA RUGI DAN PENGHASILAN CONSOLIDATED STATEMENT OF PROFIT OR LOSS
KOMPREHENSIF LAIN KONSOLIDASIAN AND OTHER COMPREHENSIVE INCOME
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2024 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
Catatan/ 31 Desember/December
Notes 2024 2023
PENDAPATAN INCOME
Piutang pembiayaan 2e,g,h,v,22 5.883.344 5.933.842 Financing receivables
Keuangan 2e,v 54.426 82.564 Finance
Syariah 2e,i,j,v,23 146.520 108.662 Sharia
Lain-lain 2e,o,v,24 250.780 228.045 Others
Jumlah Pendapatan 6.335.070 6.353.113 Total Income
BEBAN EXPENSES
Gaji dan tunjangan 2u,v,25,29 (1.517.239 ) (1.457.103 ) Salaries and benefits
Beban bunga dan keuangan 2e,s,t,v,26 (930.537 ) (951.310 ) Interest and finance charges
Umum dan administrasi 2m,o,p,q,r,27 (875.425 ) (870.505 ) General and administrative
Cadangan kerugian penurunan nilai Provision for impairment losses
Piutang pembiayaan 2e,v,5 (845.785 ) (785.034 ) Financing receivables
Piutang ijarah dan IMBT 2e,v,6 (4.551 ) (1.015 ) Ijarah and IMBT receivables
Lain-lain 2e,v,28,35 (234.919) (262.894) Others
Jumlah Beban (4.408.456) (4.327.861) Total Expenses
LABA SEBELUM PAJAK 1.926.614 2.025.252 PROFIT BEFORE TAX
Beban Pajak Penghasilan 2r,14b (361.940) (381.453) Income Tax Expenses
LABA TAHUN BERJALAN 1.564.674 1.643.799 PROFIT FOR THE YEAR
PENGHASILAN KOMPREHENSIF LAIN OTHER COMPREHENSIVE INCOME
Pos-pos yang akan Items that will be
direklasifikasi ke laba rugi reclassified to profit or loss
Bagian efektif atas perubahan Effective portion of the fair
nilai wajar instrumen derivatif - value change of the derivative
lindung nilai arus kas 2l,8,33 (81.583) 13.498 instrument for cash flows hedges
Pajak penghasilan terkait 14c,33 15.501 (2.565) Related income tax
(66.082) 10.933
Pos-pos yang tidak akan Items that will not be
direklasifikasi ke laba rugi reclassified to profit or loss
Keuntungan (kerugian) pengukuran
kembali program aktuarial Gain (loss) on remeasurement of
manfaat pasti 2u,17,33 12.897 (10.468) defined benefit actuarial program
Pajak penghasilan terkait 14c,33 (2.454) 1.986 Related income tax
10.443 (8.482)
JUMLAH (KERUGIAN) PENGHASILAN TOTAL OTHER COMPREHENSIVE
KOMPREHENSIF LAIN – Setelah Pajak (55.639) 2.451 (LOSS) INCOME – Net of Tax
JUMLAH LABA KOMPREHENSIF TOTAL COMPREHENSIVE INCOME
TAHUN BERJALAN 1.509.035 1.646.250 FOR THE YEAR
Lihat Catatan atas Laporan Keuangan Konsolidasian pada See accompanying Notes to the Consolidated Financial Statements
Ekshibit E terlampir yang merupakan bagian yang tidak terpisahkan on Exhibit E which are an integral part of
dari Laporan Keuangan Konsolidasian secara keseluruhan the Consolidated Financial Statements taken as a whole
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 255
Page 256
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit B/2 Exhibit B/2
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
LAPORAN LABA RUGI DAN PENGHASILAN CONSOLIDATED STATEMENT OF PROFIT OR LOSS
KOMPREHENSIF LAIN KONSOLIDASIAN AND OTHER COMPREHENSIVE INCOME
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2024 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
Catatan/ 31 Desember/December
Notes 2024 2023
LABA TAHUN BERJALAN YANG DAPAT PROFIT FOR THE YEAR
DIATRIBUSIKAN KEPADA: ATTRIBUTTABLE TO:
Pemilik entitas induk 1.564.811 1.643.888 Owners of the parent
Kepentingan nonpengendali (137) (89) Non-controlling interests
1.564.674 1.643.799
JUMLAH LABA KOMPREHENSIF TOTAL COMPREHENSIVE
TAHUN BERJALAN YANG DAPAT INCOME FOR THE YEAR
DIATRIBUSIKAN KEPADA: ATTRIBUTTABLE TO:
Pemilik entitas induk 1.509.171 1.646.338 Owners of the parent
Kepentingan nonpengendali (136) (88) Non-controlling interests
1.509.035 1.646.250
LABA PER SAHAM DASAR BASIC EARNINGS PER SHARE
(nilai penuh) 2ab,32 104 109 (full amount)
Tangerang Selatan, 24 Februari 2025 / South Tangerang, 24 February 2025
Sudjono
Direktur Keuangan / Finance Director
Lihat Catatan atas Laporan Keuangan Konsolidasian pada See accompanying Notes to the Consolidated Financial Statements
Ekshibit E terlampir yang merupakan bagian yang tidak terpisahkan on Exhibit E which are an integral part of
dari Laporan Keuangan Konsolidasian secara keseluruhan the Consolidated Financial Statements taken as a whole
256 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 257
These Consolidated Financial Statements are Originally Issued in Indonesian Language
Ekshibit C Exhibit C
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
LAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
Governance
Good Corporate
Ekuitas yang dapat diatribusikan kepada pemilik entitas induk/Equity attributable to owners of the parent
Keuntungan
(kerugian) Keuntungan
kumulatif atas pengukuran
instrumen kembali
derivatif untuk program
lindung nilai aktuarial
Tambahan arus kas - neto/ manfaat pasti/
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk
modal Cumulative Gain on Jumlah sebelum
disetor Gain (loss) on remeasurement Saldo laba/Retained earnings kepentingan
Modal - neto/ Saham derivative of defined Telah Belum nonpengendali/ Kepentingan Jumlah
saham/ Additional treasuri/ instrument benefit ditentukan ditentukan Total before nonpengendali/ ekuitas/
Sustainability
Catatan/ Share paid-in Treasury for cash flows actuarial penggunaannya/ penggunaannya/ non-controlling Non-controlling Total
Notes capital capital - net stock hedges - net program Appropriated Unappropriated interests interests equity
Saldo per 31 Desember 2023 399.178 609.459 (232.957) 666 64.537 120.000 8.538.215 9.499.098 698 9.499.796 Balance as of 31 December 2023
Jumlah penghasilan
komprehensif tahun Total comprehensive
berjalan income for the year
Laba tahun berjalan - - - - - - 1.564.811 1.564.811 (137) 1.564.674 Profit for the year
Penghasilan
komprehensif lain, Other comprehensive
setelah pajak: income, net of tax:
Bagian yang efektif
Corporate Data
dari lindung nilai Effective portion of
arus kas 2l,8 - - - (66.082) - - - (66.082) - (66.082) cash-flows hedges
Keuntungan pengukuran
kembali Gain on remeasurement
program aktuarial of defined benefit
manfaat pasti 2u,17 - - - - 10.442 - - 10.442 1 10.443 actuarial program
- - - (66.082) 10.442 - 1.564.811 1.509.171 (136) 1.509.035
Penyisihan saldo laba Appropriation for
untuk cadangan umum 18 - - - - - 5.000 (5.000) - - - general reserve
Dividen tunai tahun 2023 2ac,18 - - - - - - (406.063) (406.063) - (406.063) Cash dividend of 2023
Dividen tunai interim Interim cash dividend
Statements
Annual Financial
tahun berjalan - - - - - - (421.103) (421.103) - (421.103) for the year
Saldo per 31 Desember 2024 399.178 609.459 (232.957) (65.416) 74.979 125.000 9.270.860 10.181.103 562 10.181.665 Balance as of 31 December 2024
Lihat Catatan atas Laporan Keuangan Konsolidasian pada See accompanying Notes to the Consolidated Financial Statements on
Appendices
Ekshibit E terlampir yang merupakan bagian yang tidak terpisahkan Exhibit E which are an integral part of
dari Laporan Keuangan Konsolidasian secara keseluruhan the Consolidated Financial Statements taken as a whole
257
Page 258
258
These Consolidated Financial Statements are Originally Issued in Indonesian Language
Ekshibit C/2 Exhibit C/2
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
LAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
About This Report
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
Ekuitas yang dapat diatribusikan kepada pemilik entitas induk/Equity attributable to owners of the parent
Keuntungan Keuntungan
(kerugian) (kerugian)
kumulatif atas pengukuran
instrumen kembali
derivatif untuk program
lindung nilai aktuarial
Tambahan arus kas - neto/ manfaat pasti/
modal Cumulative Gain (loss) on Jumlah sebelum
disetor gain (loss) on remeasurement Saldo laba/Retained earnings kepentingan
Highlights
2024 Performance
Modal - neto/ Saham derivative of defined Telah Belum nonpengendali/ Kepentingan Jumlah
saham/ Additional treasuri/ instrument benefit ditentukan ditentukan Total before nonpengendali/ ekuitas/
Catatan/ Share paid-in Treasury for cash flows actuarial penggunaannya/ penggunaannya/ non-controlling Non-controlling Total
Notes capital capital - net stock hedges - net program Appropriated Unappropriated interests interests equity
Saldo per 31 Desember 2022 399.178 609.459 (232.957) (10.267) 73.020 115.000 7.801.690 8.755.123 786 8.755.909 Balance as of 31 December 2022
Jumlah penghasilan
komprehensif Total comprehensive
tahun berjalan income for the year
Laba tahun berjalan - - - - - - 1.643.888 1.643.888 (89) 1.643.799 Profit for the year
Penghasilan
komprehensif lain, Other comprehensive
setelah pajak: income, net of tax:
Reports to Stakeholders
Bagian yang
efektif dari Effective portion
lindung nilai of cash flows
arus kas 2l,8 - - - 10.933 - - - 10.933 - 10.933 hedges
Kerugian
pengukuran kembali Loss on remeasurement
program aktuarial of defined benefit
manfaat pasti 2u,17 - - - - (8.483) - - (8.483) 1 (8.482) actuarial program
- - - 10.933 (8.483) - 1.643.888 1.646.338 (88) 1.646.250
Penyisihan saldo laba Appropriation for
untuk cadangan umum 18 - - - - - 5.000 (5.000) - - - general reserve
Company Profile
Dividen tunai tahun 2022 2ac,18 - - - --- - - (481.260) (481.260) - (481.260) Cash dividend of 2022
Dividen tunai interim Interim cash dividend
tahun berjalan - - - - - - (421.103) (421.103) - (421.103) for the year
Saldo per 31 Desember 2023 399.178 609.459 (232.957) 666 64.537 120.000 8.538.215 9.499.098 698 9.499.796 Balance as of 31 December 2023
Lihat Catatan atas Laporan Keuangan Konsolidasian pada See accompanying Notes to the Consolidated Financial Statements on
and Analysis
Management Discussion
Ekshibit E terlampir yang merupakan bagian yang tidak terpisahkan Exhibit E which are an integral part of
dari Laporan Keuangan Konsolidasian secara keseluruhan the Consolidated Financial Statements taken as a whole
PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 259
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit D Exhibit D
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
LAPORAN ARUS KAS KONSOLIDASIAN CONSOLIDATED STATEMENT OF CASH FLOWS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2024 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
Catatan/ 31 Desember/December
Notes 2024 2023*)
ARUS KAS DARI AKTIVITAS OPERASI CASH FLOWS FROM OPERATING ACTIVITIES
Penerimaan kas dari: Cash received from:
Transaksi pembiayaan 5,22,23 25.051.961 24.472.851 Financing transactions
Pembiayaan bersama 5,31 1.300.820 646.855 Joint financing
Penghasilan jasa giro dan Interest income from current
deposito berjangka 55.459 80.744 accounts and time deposits
Lain-lain 24 245.843 212.989 Others
Pengeluaran kas untuk: Cash disbursement for:
Transaksi pembiayaan baru 5,22,23 (22.058.860) (21.292.704) New financing transactions
Beban umum dan administrasi 2v,37 (2.228.661) (2.198.754) General and administrative
Pembiayaan bersama 31a (569.884) (255.576) Joint financing
Beban bunga dan keuangan 2v (986.943) (964.384) Interest and finance charges
Pembayaran pajak penghasilan (320.195) (400.126) Income taxes paid
Arus kas bersih dari aktivitas operasi 489.540 301.895 Net cash flows from operating activities
ARUS KAS UNTUK AKTIVITAS INVESTASI CASH FLOWS FOR INVESTING ACTIVITIES
Hasil penjualan aset tetap 10 40.231 27.380 Proceeds from sale of fixed assets
Perolehan aset tetap 10 (97.512) (192.943) Acquisition of fixed assets
Penambahan aset hak-guna 11,37 (24.706) (25.218) Addition of right-of-use assets
Perolehan aset takberwujud 12 (23.253) (169.526) Acquisition of intangible assets
Arus kas bersih untuk aktivitas investasi (105.240) (360.307) Net cash flows for investing activities
ARUS KAS DARI AKTIVITAS PENDANAAN CASH FLOWS FROM FINANCING ACTIVITIES
Penerimaan kas dari: Cash received from:
Pinjaman yang diterima 13,34 10.264.849 4.988.647 Fund borrowings
Surat berharga yang diterbitkan 600.000 3.800.000 Securities issued
Pengeluaran kas untuk: Cash disbursement for:
Pinjaman yang diterima 13,34 (8.160.516) (6.506.468) Fund borrowings
Pelunasan pokok surat berharga 15,34 Repayment of securities
yang diterbitkan (2.387.000) (655.000) issued principal
Dividen tunai (827.166) (902.363) Cash dividend
Arus kas bersih (untuk) dari aktivitas pendanaan (509.833) 724.816 Net cash flows (for) from financing activities
(PENURUNAN) KENAIKAN NETO NET (DECREASE) INCREASE IN
KAS DAN SETARA KAS CASH AND CASH EQUIVALENTS
(Saldo dipindahkan) (125.533) 666.404 (Balance brought-forward)
*) direklasifikasi (Catatan 37) *) as reclassified (Note 37)
Lihat Catatan atas Laporan Keuangan Konsolidasian pada See accompanying Notes to the Consolidated Financial Statements
Ekshibit E terlampir yang merupakan bagian yang tidak terpisahkan on Exhibit E which are an integral part of
dari Laporan Keuangan Konsolidasian secara keseluruhan the Consolidated Financial Statements taken as a whole
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 259
Page 260
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit D/2 Exhibit D/2
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
LAPORAN ARUS KAS KONSOLIDASIAN CONSOLIDATED STATEMENT OF CASH FLOWS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2024 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
Catatan/ 31 Desember/December
Notes 2024 2023
(PENURUNAN) KENAIKAN NETO NET (DECREASE) INCREASE IN
KAS DAN SETARA KAS CASH AND CASH EQUIVALENTS
(Saldo pindahan) (125.533) 666.404 (Balance carry-forward)
CASH AND CASH EQUIVALENTS AT
KAS DAN SETARA KAS PADA AWAL TAHUN 1.739.659 1.073.255 BEGINNING OF YEAR
KAS DAN SETARA KAS PADA CASH AND CASH EQUIVALENTS
AKHIR TAHUN 1.614.126 1.739.659 AT END OF YEAR
KAS DAN SETARA KAS CASH AND CASH EQUIVALENTS
TERDIRI DARI: CONSIST OF:
Kas dan bank 4 902.774 897.633 Cash on hand and in banks
Deposito berjangka 4 711.352 842.026 Time deposits
1.614.126 1.739.659
Lihat Catatan atas Laporan Keuangan Konsolidasian pada See accompanying Notes to the Consolidated Financial Statements on
Ekshibit E terlampir yang merupakan bagian yang tidak terpisahkan Exhibit E which are an integral part of
dari Laporan Keuangan Konsolidasian secara keseluruhan the Consolidated Financial Statements taken as a whole
260 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 261
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E Exhibit E
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
1. UMUM 1. GENERAL
a. Pendirian dan Informasi Umum Perusahaan a. Establishment and General Information of the Company
PT BFI Finance Indonesia Tbk (“Perusahaan”) didirikan PT BFI Finance Indonesia Tbk (the “Company”) was
dengan nama PT Manufacturers Hanover Leasing established as PT Manufacturers Hanover Leasing
Indonesia pada tanggal 7 April 1982 berdasarkan Akta Indonesia on 7 April 1982 based on Notarial Deed No. 57 of
No. 57 yang dibuat di hadapan Kartini Muljadi, S.H., Kartini Muljadi, S.H., Notary in Jakarta. The deed of
Notaris di Jakarta. Akta pendirian tersebut telah establishment was approved by the Minister of Justice of
memperoleh persetujuan dari Menteri Kehakiman the Republic of Indonesia in its decision letter
Republik Indonesia melalui Surat Keputusan No. C2-2091-HT01.01.TH82 dated 28 October 1982 and
No. C2-2091-HT01.01.TH82 tanggal 28 Oktober 1982 dan was published in the State Gazette No. 102, dated
telah diumumkan dalam Lembaran Berita Negara 21 December 1982, Supplement No. 1390. Based on
No. 102 tanggal 21 Desember 1982, Tambahan No. 1390. Notarial Deed No. 54 of Inge Hendarmin, S.H., a substitute
Berdasarkan Akta No. 54 yang dibuat di hadapan Inge of Kartini Muljadi, S.H., Notary in Jakarta dated
Hendarmin, S.H., pengganti dari Kartini Muljadi, S.H., 17 September 1986, the Company’s name changed from
Notaris di Jakarta tanggal 17 September 1986, nama PT Manufacturers Hanover Leasing Indonesia to PT Bunas
Perusahaan diubah dari PT Manufacturers Hanover Intitama Leasing Indonesia, this amendment was approved
Leasing Indonesia menjadi PT Bunas Intitama Leasing by the Minister of Justice of the Republic of Indonesia in
Indonesia, perubahan tersebut telah memperoleh its decision letter No.C2-6977.HT.01.04.TH.86 dated
persetujuan dari Menteri Kehakiman Republik Indonesia 7 October 1986 and was published in the State Gazette
melalui Surat Keputusan No. C2-6977.HT.01.04.TH.86 No. 94 dated 25 November 1986, Supplement No. 1451.
tanggal 7 Oktober 1986 dan telah diumumkan dalam Based on Notarial Deed No. 80 dated 22 November 1989,
Lembaran Berita Negara No. 94 tanggal 25 November Deed No. 27 dated 8 March 1990, both of which were made
1986, Tambahan No. 1451. Berdasarkan Akta No. 80 before Kartini Muljadi, S.H. the Company’s name changed
tanggal 22 November 1989 Akta No. 27 tanggal 8 Maret from PT Bunas Intitama Leasing Indonesia to PT Bunas
1990 keduanya dibuat di hadapan Kartini Muljadi, S.H., Finance Indonesia, this amendment was approved by the
nama Perusahaan diubah dari PT Bunas Intitama Leasing Minister of Justice of the Republic of Indonesia in its
Indonesia menjadi PT Bunas Finance Indonesia, decision letter No. C2-1441-HT.01.04.TH.90 dated
perubahan tersebut telah memperoleh persetujuan dari 13 March 1990 and was published in the State Gazette
Menteri Kehakiman Republik Indonesia melalui Surat No. 34 dated 28 April 1990, Supplement No. 1537. Based
Keputusan No. C2-1441-HT.01.04.TH.90 tanggal 13 Maret on Deed No. 37 which were made before Achmad Abid, S.H,
1990 dan telah diumumkan dalam Lembaran Berita a substitute of Sutjipto, S.H., Notary in Jakarta dated
Negara No. 34 tanggal 28 April 1990, Tambahan No. 1537. 8 August 1996, the name of the Company was changed
Berdasarkan Akta No. 37 yang dibuat di hadapan Achmad from PT Bunas Finance Indonesia to PT Bunas Finance
Abid, S.H., pengganti dari Sutjipto, S.H., Notaris di Indonesia Tbk, a change which has been approved by the
Jakarta tanggal 8 Agustus 1996, nama Perusahaan diubah Minister of Justice of the Republic of Indonesia through
dari PT Bunas Finance Indonesia menjadi PT Bunas Decision Letter No. C2-9625-HT.01.04.TH.96 dated
Finance Indonesia Tbk, perubahan tersebut telah 21 October 1996 and was published in the State Gazette
memperoleh persetujuan dari Menteri Kehakiman No. 11 dated 7 February 1997, Supplement No. 552.
Republik Indonesia melalui Surat Keputusan No.C2-9625- The Company’s Articles of Association has been amended
HT.01.04.TH.96 tanggal 21 Oktober 1996 dan telah several times, which one of the amendments was based on
diumumkan dalam Lembaran Berita Negara No. 11 tanggal Notarial Deed No. 116 dated 27 June 2001 of Aulia
7 Februari 1997, Tambahan No. 552. Anggaran Dasar Taufani, S.H., a substitute of Sutjipto, S.H., Notary in
Perusahaan telah mengalami beberapa kali perubahan, Jakarta, in connection with the change of name of
salah satunya berdasarkan Akta No. 116 tanggal 27 Juni the Company from PT Bunas Finance Indonesia Tbk to
2001 yang dibuat di hadapan Aulia Taufani, S.H., PT BFI Finance Indonesia Tbk. This amendment
pengganti dari Sutjipto, S.H., Notaris di Jakarta, was approved by the Minister of Law and Human Rights
sehubungan dengan perubahan nama Perusahaan dari of the Republic of Indonesia in its decision letter
PT Bunas Finance Indonesia Tbk menjadi PT BFI Finance No. C-03668.HT.01.04.TH.2001 dated 24 July 2001 and was
Indonesia Tbk. Perubahan tersebut telah memperoleh published in the State Gazette No. 35 dated 30 April 2002,
persetujuan dari Menteri Hukum dan Hak Asasi Manusia Supplement No. 4195.
Republik Indonesia melalui Surat Keputusan
No. C-03668.HT.01. 04.TH.2001 tanggal 24 Juli 2001 dan
telah diumumkan dalam Lembaran Berita Negara No. 35
tanggal 30 April 2002, Tambahan No. 4195.
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 261
Page 262
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/2 Exhibit E/2
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
1. UMUM (Lanjutan) 1. GENERAL (Continued)
a. Pendirian dan Informasi Umum Perusahaan (Lanjutan) a. Establishment and General Information of the
Company (Continued)
Perubahan terakhir berdasarkan Akta No. 19 tanggal The latest amendment based on Deed No. 19 dated
29 Juni 2022 yang dibuat di hadapan Shanti Indah Lestari, 29 June 2022 made before Shanti Indah Lestari, S.H.,
S.H., M.Kn., Notaris di Kabupaten Tangerang, mengenai M.Kn., Notary in Tangerang District, regarding approval
persetujuan perubahan Pasal 3 dan Pasal 15 Anggaran for amendment to Article 3 and Article 15 of the
Dasar Perusahaan, yang telah diterima dan dicatat dalam Company’s articles of association, which has been
database Sistem Administrasi Badan Hukum Kementerian accepted and recorded in Legal Entity Administration
Hukum dan Hak Asasi Manusia Republik Indonesia melalui System Minister of Law and Human Rights of the
Surat Penerimaan Pemberitahuan Perubahan Anggaran Republic of Indonesia through Receipt of Notification of
Dasar nomor AHU-AH.01.03-0271122 tanggal 27 Juli Amendments to Articles of Association Number AHU-
2022 serta telah mendapat persetujuan dari Menteri AH.01.03-0271122 dated 27 July 2022 and has been
Hukum dan Hak Asasi Manusia Republik Indonesia approved by the Ministry of Law and Human Rights of
dengan keputusan nomor AHU-0052483.AH.01.02.Tahun the Republic of Indonesia with Decree Number AHU-
2022 tanggal 27 Juli 2022 dan telah diumumkan 0052483.AH.01.02.Tahun 2022 dated 27 July 2022 and
dalam Lembaran Berita Negara Republik Indonesia No. 74 published in the State Gazette of the Republic of
tanggal 16 September 2022, Tambahan No. 31534. Indonesia of Republic No. 74 dated 16 September 2022,
Supplement No. 31534.
Perusahaan memperoleh izin usaha dalam The Company obtained its license to operate
bidang usaha lembaga Pembiayaan dari Menteri Keuangan as a financing company from the Minister of Finance
Republik Indonesia berdasarkan Surat Keputusan by virtue of his decree No. KEP-038/KM.11/1982
No. KEP-038/KM.11/1982 tanggal 12 Agustus 1982, yang dated 12 August 1982 as amended by Decree
telah diperbaharui berdasarkan Surat Keputusan No. 493/KMK.013/1990 dated 23 April 1990.
No. 493/KMK.013/1990 tanggal 23 April 1990.
Pada tanggal 20 Februari 2006, Menteri Keuangan On 20 February 2006, the Minister of Finance of the
Republik Indonesia telah mengamandemen izin usaha Republic of Indonesia amended the Company’s license in
Perusahaan melalui Keputusan Menteri Keuangan Republik its decision letter No. KEP-038/KM.5/2006.
Indonesia No. KEP-038/KM.5/2006.
Melalui amandemen ini, izin usaha yang sebelumnya Through this amendment, the previous license granted
diberikan kepada PT Bunas Finance Indonesia Tbk to PT Bunas Finance Indonesia Tbk was applied for
berlaku surut sejak adanya persetujuan perubahan nama retroactively since the approval of the change in
Perusahaan dari PT Bunas Finance Indonesia Tbk the name of the Company from PT Bunas Finance
menjadi PT BFI Finance Indonesia Tbk dari instansi Indonesia Tbk to PT BFI Finance Indonesia Tbk from the
yang berwenang melalui Surat Keputusan Menteri regulatory authority in its decision letter of Minister
Hukum dan Hak Asasi Manusia Republik Indonesia of Law and Human Rights of the Republic of Indonesia
No. C-03668.HT.01.04.TH.2001 tanggal 24 Juli 2001. No. C-03668.HT.01.04.TH.2001 dated 24 July 2001.
Berdasarkan Pasal 3 Anggaran Dasar, Perusahaan Based on Article 3 of the Company's Articles of
dapat melaksanakan kegiatan usaha utama sebagai Association, the Company may carry out the following
berikut: main business activities:
I. Usaha Pembiayaan: I. Financing:
a. Pembiayaan investasi a. Investment financing
b. Pembiayaan modal kerja b. Working capital financing
c. Pembiayaan multiguna c. Multipurpose financing
d. Kegiatan usaha pembiayaan lain berdasarkan d. Other financing activities under the approval of
persetujuan Otoritas Jasa Keuangan the Financial Service Authority
II. Usaha Pembiayaan Syariah: II. Sharia Financing:
a. Pembiayaan jual beli a. Financing sale and purchase
b. Pembiayaan investasi b. Investment financing
c. Pembiayaan jasa c. Financing services
262 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 263
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/3 Exhibit E/3
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
1. UMUM (Lanjutan) 1. GENERAL (Continued)
a. Pendirian dan Informasi Umum Perusahaan (Lanjutan) a. Establishment and General Information of the
Company (Continued)
Untuk mencapai maksud dan tujuan tersebut di atas serta To achieve the above-mentioned purpose and objective,
untuk menunjang kegiatan usaha utama Perusahaan and to support its main business activities, the Company
tersebut di atas, Perusahaan dapat melaksanakan may conduct supporting business activities as follows:
kegiatan usaha penunjang sebagai berikut:
a. Melakukan perencanaan dan pengembangan, antara a. To undertake planning and development, among
lain menambah jaringan usaha, membangun others, to increase business network, build
infrastruktur dan kegiatan lain yang mendukung infrastructure, and other activities that support the
usaha dan kinerja Perusahaan. business and performance of the Company.
b. Melakukan kegiatan mencari dan/atau memperoleh b. To conduct activities to seek and/or obtain funding
sumber pendanaan. sources
c. Melakukan segala perbuatan pemilikan dan sewa c. To carry out all ownership and lease activities with
menyewa dengan pihak lain. other parties.
d. Menyelenggarakan kegiatan-kegiatan lain yang d. To carry out other activities needed to support
diperlukan dalam mendukung dan/atau terkait and/or related to the main business activities.
dengan kegiatan usaha utama.
e. Sewa operasi (operating lease) dan/atau kegiatan e. To provide operating lease and/or fee-based service
berbasis imbal jasa sepanjang tidak bertentangan as long as it is not against the stipulations and laws
dengan ketentuan peraturan perundangan-undangan in financial services sector.
di sektor jasa keuangan.
Perusahaan memulai kegiatan komersialnya pada tahun The Company started its commercial operations in
1982. Kantor pusat Perusahaan terletak di BFI Tower, 1982. The Company’s registered office is located at BFI
Sunburst CBD Lot 1.2, Jalan Kapten Soebijanto Tower, Sunburst CBD Lot 1.2, Jalan Kapten Soebijanto
Djojohadikusumo, BSD City, Tangerang Selatan. Djojohadikusumo, BSD City, South Tangerang.
Untuk menjalankan usaha pembiayaan syariah, To undertake a sharia financing business, the Company
Perusahaan telah menerima Salinan Keputusan Dewan has received a copy of the Decree of the Board of
Komisioner Otoritas Jasa Keuangan Nomor Commissioners of the Financial Service Authority
Kep-27/ NB.223/2018 tentang Pemberian Izin Pembukaan Number Kep-27/NB.223/2018 concerning the License to
Unit Usaha Syariah Perusahaan Pembiayaan kepada Open Sharia Business Unit to the Company and the
Perusahaan dan keputusan tersebut mulai berlaku sejak Decree effective on 8 February 2018.
tanggal ditetapkan, yaitu 8 Februari 2018.
Perusahaan dan Entitas Anaknya mempunyai kantor The Company and Its Subsidiary have branches, kiosk
cabang, gerai dan kantor cabang syariah yang tersebar di and sharia branch throughout Indonesia as of
seluruh wilayah Indonesia pada tanggal 31 Desember 2024 31 December 2024 and 2023 as follow:
dan 2023 sebagai berikut:
31 Desember/December
2024 2023
Kantor cabang 191 195 Branches
Gerai 31 31 Kiosk
Cabang Syariah 45 45 Sharia Branches
Jumlah 267 271 Total
b. Penawaran Umum Saham Perusahaan b. Public Offering of the Company’s Shares
Pada tahun 1990, Perusahaan melakukan penawaran In 1990, the Company conducted an initial public
umum perdana atas 2.125.000 sahamnya dengan nilai offering of its 2,125,000 shares with a par value of
nominal Rp 1.000 (nilai penuh) per saham melalui bursa Rp 1,000 (full amount) per share through the stock
efek di Indonesia dengan harga penawaran sejumlah exchanges in Indonesia at an offering price of Rp 5,750
Rp 5.750 (nilai penuh) per saham. Pada tahun 1993, (full amount) per share. In 1993, the Company offered
Perusahaan melakukan penawaran tambahan sebanyak an additional of 8,500,000 shares at the same par value
8.500.000 saham dengan nilai nominal per saham yang per share through a stock exchange in Indonesia.
sama melalui bursa efek di Indonesia.
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 263
Page 264
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/4 Exhibit E/4
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
1. UMUM (Lanjutan) 1. GENERAL (Continued)
b. Penawaran Umum Saham Perusahaan (Lanjutan) b. Public Offering of the Company’s Shares (Continued)
Pada tanggal 8 April 1993, para pemegang saham On 8 April 1993, the shareholders of the Company
Perusahaan menyetujui untuk membagikan dividen saham approved to distribute share dividends on the basis of
dengan dasar 1 (satu) saham baru untuk 10 (sepuluh) 1 (one) new share for every 10 (ten) shares held totaling
saham yang dimiliki, sebanyak 1.062.500 saham dengan 1,062,500 shares with a par value of Rp 1,000 (full
nilai nominal Rp 1.000 (nilai penuh) per saham. Pada amount) per share. On the same date, the shareholders
tanggal yang sama, para pemegang saham Perusahaan of the Company also approved to issue bonus shares on
juga menyetujui untuk menerbitkan saham bonus dengan the basis of 17 (seventeen) new shares for every
dasar 17 (tujuh belas) saham baru untuk setiap 20 (dua 20 (twenty) shares held totaling 9,934,668 shares at the
puluh) saham yang dimiliki, sebanyak 9.934.668 saham same par value. On 22 January 1994, the shareholders
dengan nilai nominal yang sama. Pada tanggal 22 Januari of the Company approved to distribute share dividends
1994, para pemegang saham Perusahaan menyetujui on the basis of 1 (one) new share for every 3 (three)
untuk membagikan dividen saham dengan dasar 1 (satu) shares held totaling 7,207,390 shares at a par value of
saham baru untuk 3 (tiga) saham yang dimiliki, sebanyak Rp 1,000 (full amount) per share.
7.207.390 saham dengan nilai nominal Rp 1.000 (nilai
penuh) per saham.
Pada tanggal 18 April 1994, Perusahaan memperoleh On 18 April 1994, the Company received effective
surat pernyataan efektif dari Badan Pengawas Pasar statement from the Capital Market Supervisory
Modal (kemudian berubah menjadi Badan Pengawas Pasar Board (was then changed to Capital Market and
Modal dan Lembaga Keuangan/BAPEPAM-LK dan terakhir Financial Institutions Supervisory Agency/BAPEPAM-LK
dikenal sebagai Otoritas Jasa Keuangan/OJK) (BAPEPAM) and recently known as the Financial Services
melalui surat No. S-639/PM/1994 dalam rangka Authority/OJK) (BAPEPAM) through letter No. S-639/
penawaran umum terbatas pertama (I) Perusahaan PM/1994 to conduct the first rights issue of the
sebanyak 28.829.558 saham dengan harga penawaran Company’s shares on a 1 (one) for 1 (one) basis totaling
sejumlah Rp 1.500 (nilai penuh) per saham dimana setiap 28,829,558 shares at an offering price of Rp 1,500
1 (satu) saham yang dimiliki berhak atas 1 (satu) saham (full amount) per share. Moreover, on 17 January 1997,
baru. Selanjutnya, pada tanggal 17 Januari 1997, the Company received effective statement from
Perusahaan memperoleh surat pernyataan efektif dari the BAPEPAM-LK through letter No. S-71/PM/1997
BAPEPAM-LK melalui surat No. S-71/PM/1997 dalam to conduct the second rights issue of the Company’s
rangka penawaran umum terbatas kedua Perusahaan shares on the basis of 2 (two) new shares for every
sebanyak 115.318.232 saham dengan harga penawaran 1 (one) shares held totaling 115,318,232 shares at an
Rp 1.000 (nilai penuh) per saham dimana setiap 1 (satu) offering price of Rp 1,000 (full amount) per share.
saham yang dimiliki berhak atas 2 (dua) saham baru.
Pada tanggal 17 Juni 1997, para pemegang saham On 17 June 1997, the shareholders of the Company
Perusahaan menyetujui pemecahan nilai nominal saham approved a stock split, resulting in a change in par value
dari Rp 1.000 (nilai penuh) per saham menjadi Rp 500 per share from Rp 1,000 (full amount) to Rp 500 (full
(nilai penuh) per saham, sehingga mengakibatkan amount), thus resulting in the increase in number of the
peningkatan jumlah saham beredar Perusahaan dari Company’s subscribed shares from 172,977,348 shares to
sebanyak 172.977.348 saham menjadi sebanyak 345,954,696 shares.
345.954.696 saham.
Dalam rangka restrukturisasi utang, para pemegang In respect with the debt restructuring, the Company’s
saham Perusahaan dalam Rapat Umum Pemegang Saham shareholders through Extraordinary General Meeting
Luar Biasa Para Pemegang Saham tanggal 27 Januari 2000 of Shareholders convened on 27 January 2000 approved
menyetujui penerbitan Mandatory Convertible Bonds to issue the Mandatory Convertible Bonds (MCB)
atau Obligasi Wajib Konversi (MCB) yang wajib which should be converted into 414,384,585 shares of
dikonversikan menjadi sebanyak 414.384.585 saham the Company.
Perusahaan.
Pada bulan Mei 2006, seluruh MCB telah dikonversi In May 2006, all of the MCB was converted into common
menjadi sebanyak 414.384.585 saham biasa sehingga shares totaling 414,384,585 shares, thus resulting in a
jumlah saham beredar Perusahaan menjadi sebanyak total outstanding number of the Company’s shares of
760.339.281 saham pada tanggal 31 Desember 2006. 760,339,281 shares as of 31 December 2006.
264 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 265
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/5 Exhibit E/5
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
1. UMUM (Lanjutan) 1. GENERAL (Continued)
b. Penawaran Umum Saham Perusahaan (Lanjutan) b. Public Offering of the Company’s Shares (Continued)
Berdasarkan keputusan Rapat Umum Pemegang Saham Based on the resolution of the Extraordinary General
Luar Biasa (RUPSLB) Perusahaan yang diaktakan dengan Meeting of Shareholders (EGM) of the Company
Akta notaris No. 65 tanggal 21 Juni 2012 yang dibuat di as covered by Notarial Deed No. 65 dated 21 June 2012
hadapan Fathiah Helmi, S.H., Notaris di Jakarta, para of Fathiah Helmi, S.H., Notary in Jakarta,
pemegang saham menyetujui perubahan Pasal 4 ayat the shareholders approved the amendment to Paragraphs
1 dan 2 Anggaran Dasar Perusahaan mengenai perubahan 1 and 2 of Article 4 of the Articles of Association
nilai nominal saham Perusahaan (pemecahan saham) dari concerning the changes in par value of the Company’s
sebesar Rp 500 (nilai penuh) per saham menjadi sebesar share (stock split) from Rp 500 (full amount) to Rp 250
Rp 250 (nilai penuh) per saham, sehingga mengakibatkan (full amount) per share, thus, resulting in the increase in
peningkatan jumlah saham beredar Perusahaan dari number of the Company’s shares outstanding from
semula sebanyak 760.339.281 saham menjadi sebanyak 760,339,281 shares to 1,520,678,562 shares, and
1.520.678.562 saham, dan menyetujui untuk mengubah Paragraph 3b of Article 15, concerning the Duties and
Pasal 15 ayat 3b mengenai Tugas dan Wewenang Direksi. Authorities of the Directors.
Pemecahan saham tersebut telah memperoleh The stock split was approved by the BEI through letter
persetujuan dari BEI melalui surat No. S-05439/BEI.PPJ/ No. S-05439/BEI.PPJ/07-2012 dated 31 July 2012.
07-2012 tertanggal 31 Juli 2012.
RUPSLB tersebut juga telah menyetujui penerbitan The EGM had also approved the issuance of shares for the
saham untuk pelaksanaan program Management & implementation of the Phase 1 of the Management &
Employee Stock Option Program (MESOP) untuk Tahap I Employee Stock Option Program (MESOP) on the Indonesia
di BEI sebanyak 60.826.400 saham dengan nilai nominal Stock Exchange, totaling 60,826,400 shares with par
sebesar Rp 250 (nilai penuh) per saham untuk periode value of Rp 250 (full amount) per share, up 20 June
sampai dengan tanggal 20 Juni 2014. BEI melalui suratnya 2014. BEI through its letter No. S-04847/ BEI.PPJ/07-2012
No. S-04847/BEI.PPJ/07-2012 tertanggal 6 Juli 2012 telah dated 6 July 2012 had approved the Company’s pre-listing
menyetujui pencatatan saham Perusahaan hasil of its MESOP on the Indonesia Stock Exchange for the
pelaksanaan Program MESOP untuk tahap I tersebut implementation of phase I.
secara pra-pencatatan di BEI.
Pada tanggal 31 Mei 2013, 30 Mei 2014, 29 Mei 2015, dan On 31 May 2013, 30 May 2014, 29 May 2015, and 31 May
31 Mei 2016, Perusahaan telah menerbitkan saham baru 2016, the Company has issued the additional 5,936,000,
masing-masing sebanyak 5.936.000, 23.320.000, 23,320,000, 16,025,000 and 30,752,000 shares,
16.025.000 dan 30.752.000 saham sebagai pelaksanaan respectively, for the implementation of the MESOP for
Management & Employee Stock Option Program (MESOP) Phase I – Grant Date 1 and 2, and Phase II – Grant Date
untuk Tahap I – Grant Date 1 dan 2, dan Tahap II – Grant 1 and 2, for options that has been exercised, thus
Date 1 dan 2, yang telah dieksekusi sehingga jumlah resulting in a total outstanding number of the Company’s
saham beredar Perusahaan menjadi 1.596.711.562 shares of 1,596,711,562 shares as of 31 December 2016.
saham pada tanggal 31 Desember 2016.
Berdasarkan keputusan Rapat Umum Pemegang Saham Based on the resolution of the Extraordinary General
Luar Biasa (RUPSLB) Perusahaan, yang telah diaktakan Meeting of Shareholders (EGM) of the Company as
dengan Akta Notaris No. 18 pada tanggal 6 Mei 2014 yang covered by Notarial Deed No. 18 dated 6 May 2014 of
dibuat di hadapan Aryanti Artisari, S.H., Notaris di Aryanti Artisari, S.H., Notary in Jakarta, had approved
Jakarta, telah disetujui penerbitan saham hasil the issuance of new shares the results of the
pelaksanaan MESOP untuk tahap II untuk periode sampai implementations of the MESOP program phase II up to
dengan tanggal 30 Juni 2016 dengan harga pelaksanaan 30 June 2016 with exercised price which referred
yang mengacu kepada sebagaimana diatur dalam butir to point V.I Listing Regulation No. I-A as included in the
V.1 Peraturan Pencatatan No. I-A Lampiran II Appendix II of the Decision Decree of virtue
Keputusan Direksi PT Bursa Efek Indonesia of the Directors of PT Bursa Efek Indonesia
No. Kep-00001/BEI/01-2014 tanggal 20 Januari 2014. No. Kep-00001/BEI/01-2014 dated on 20 January 2014.
BEI melalui suratnya No. S-02280/BEI.PGI/06-2014 BEI through its letter No. S-02280/BEI.PGI/06-2014 dated
tertanggal 6 Juni 2014 telah menyetujui pencatatan 6 June 2014 approved the registration of the Company’s
saham Perusahaan hasil pelaksanaan Program MESOP pre-listing of its MESOP on the Stock Exchange for the
untuk tahap II secara pra-pencatatan di BEI sebanyak- implementation of phase II maximum 46,777,000 shares
banyaknya 46.777.000 saham dengan harga pelaksanaan with exercised price Rp 2,205 (full amount) per share.
sebesar Rp 2.205 (nilai penuh) per saham.
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 265
Page 266
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/6 Exhibit E/6
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
1. UMUM (Lanjutan) 1. GENERAL (Continued)
b. Penawaran Umum Saham Perusahaan (Lanjutan) b. Public Offering of the Company’s Shares (Continued)
Berdasarkan keputusan Rapat Umum Pemegang Saham Based on the resolution of the Extraordinary General
Luar Biasa (RUPSLB) Perusahaan yang diaktakan dengan Meeting of Shareholders (EGM) of the Company as
Akta No. 25 tanggal 18 April 2017 yang dibuat di hadapan covered by Notarial Deed No. 25 dated 18 April 2017
Aryanti Artisari, S.H., M.Kn., Notaris di Jakarta, para of Aryanti Artisari, S.H., M.Kn., Notary in Jakarta,
pemegang saham menyetujui pemecahan nilai nominal the Company’s shareholders approved the par value split
saham Perusahaan (stock split) dari sebesar Rp 250 (nilai of the Company’s share from Rp 250 (full amount)
penuh) per saham menjadi Rp 25 (nilai penuh) per saham. per share to Rp 25 (full amount) per share (stock split).
Pemecahan nilai saham ini telah mendapat persetujuan The stock split was approved by the BEI through
dari BEI melalui surat No.S-02820/BEI.PP1/05-2017 its letter No.S-02820/BEI.PP1/05-2017 dated
tertanggal 23 Mei 2017. Dengan demikian, sejak 23 May 2017. Therefore, since 31 December 2017 total
31 Desember 2017 jumlah saham ditempatkan dan disetor issued and fully paid capital was 15,967,115,620 shares.
penuh menjadi 15.967.115.620 saham.
c. Entitas Anak Yang Dikonsolidasikan c. Consolidated Subsidiary
Tahun Jumlah aset sebelum
beroperasi eliminasi/
komersial/ Persentase kepemilikan/ Total assets before
Year of Percentage of ownership elimination
Entitas anak/ Domisili/ commercial 31 Desember/December 31 Desember/December
Subsidiary Domicile operations 2023-2024 2024 2023
Kepemilikan langsung/ Direct ownership
PT Finansial Integrasi Teknologi Kab. Tangerang 2018 99,00% 42.071 54.015
Perusahaan mendirikan entitas anak dengan nama The Company established a subsidiary under the name
PT Finansial Integrasi Teknologi (“FIT”), berdasarkan of PT Finansial Integrasi Teknologi (“FIT”), based on
akta notaris Herna Gunawan, S.H., M.Kn. No. 4 tanggal Notarial Deed No. 4 of Herna Gunawan, S.H., M.Kn on
15 September 2017, yang telah disetujui oleh Menteri 15 September 2017. The deed of establishment
Hukum dan Hak Asasi Manusia Republik Indonesia was approved the Ministry of Law and Human Rights
berdasarkan surat No. AHU-0043022.AH.01.01.Tahun of the Republic of Indonesia in its decision letter
2017 tanggal 29 September 2017. FIT bergerak dalam No. AHU-0043022.AH.01.01.Tahun 2017 dated
bidang layanan pinjam meminjam uang berbasis 29 September 2017. FIT is engaged in lending and
teknologi informasi (P2P). borrowing services based on information technology
(P2P).
OJK telah menyetujui permohonan FIT atas platform OJK has granted approval for FIT on the platform
http://www.pinjammodal.id sebagai penyelenggara http://www.pinjammodal.id as the operator of
Layanan Pinjam Meminjam Uang Berbasis Teknologi Information Technology-Based Lending and Borrowing
Informasi untuk terdaftar dan diawasi oleh OJK, melalui Services to be registered and supervised by the
surat No.S-588/NB.213/2018 tertanggal 31 Juli 2018. authority based on Decision Letter No.S-588/NB.213/
Selanjutnya, sesuai dengan ketentuan yang berlaku, 2018 dated 31 July 2018. Furthermore, in accordance
FIT telah mengajukan permohonan izin usaha sebagai with applicable regulations, FIT has applied for
penyelenggara Layanan Pinjam Meminjam Uang a business license as an Information Technology-Based
Berbasis Teknologi Informasi, dan melalui surat Money-Borrowing Service provider, and through letter
No. Kep-20/D.05/2020 tanggal 19 Mei 2020, OJK telah No. Kep-20/D.05/2020 dated 19 May 2020, OJK has
memberikan izin usaha Perusahaan Penyelenggara granted a business license for Information Technology-
Layanan Pinjam Meminjam Uang Berbasis Teknologi Based Money-Borrowing Service Provider to FIT
Informasi kepada FIT dengan Sistem Elektronik Pinjam with the Capital Loan Electronic System, the
Modal, laman situs pinjammodal.id, nama dan merek pinjammodal.id webpage, the name and brand of the
Aplikasi Pinjam Modal pada sistem operasi Android, Capital Loan Application on the Android, iOS and
iOS dan Website, dan model bisnis konvensional. Website operating systems, and conventional business
models.
266 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 267
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/7 Exhibit E/7
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
1. UMUM (Lanjutan) 1. GENERAL (Continued)
c. Entitas Anak Yang Dikonsolidasikan (Lanjutan) c. Consolidated Subsidiary (Continued)
Berdasarkan Akta Pernyataan Keputusan Rapat No. 6 Based on Deed of Meeting Decision Letter No. 6 dated
tanggal 5 Agustus 2021 yang dibuat di hadapan Veronika 5 August 2021 made before Veronika Farida Riswanti,
Farida Riswanti, S.H., M.Kn, Notaris di Kabupaten S.H., M.Kn, Notary in Tangerang District, which has been
Tangerang, yang telah diterima dan dicatat pada accepted and recorded by the Ministry of Law and
Kementerian Hukum dan Hak Asasi Manusia Republik Human Rights of the Republic of Indonesia in its Decision
Indonesia dalam Surat No. AHU-AH.01.03-0439070 Letter No. AHU-AH.01.03-0439070 dated 20 August
tanggal 20 Agustus 2021, mengenai Perubahan 2021, regarding Changes in the Increase in Issued and
Peningkatan Modal Ditempatkan dan Disetor sebesar Paid-Up Capital of 25,000 shares or with a total nominal
25.000 lembar saham atau dengan nilai nominal value of Rp 25,000,000,000 (full amount). Thus, after
seluruhnya Rp 25.000.000.000 (nilai penuh). Dengan the increase in the issued and paid-up capital of the FIT
demikian setelah peningkatan modal ditempatkan dan to 50,000 shares with a total nominal value of
disetor FIT menjadi 50.000 lembar saham dengan nilai Rp 50,000,000,000 (full amount).
nominal seluruhnya sebesar Rp 50.000.000.000 (nilai
penuh).
Peningkatan modal disetor FIT berdasarkan Akta Notaris The increased in the paid-up capital of FIT based on
No. 6 tanggal 5 Agustus 2021 tersebut, telah dilaporkan Notarial Deed No. 6 dated 5 August 2021, has been
kepada OJK dan telah dicatat dalam administrasi reported to the OJK and has been recorded in the
Direktorat Perizinan Industri Keuangan Non Bank administration of the Directorate of Licensing for the
dan Inovasi Keuangan Digital dalam surat Non-Bank Financial Industry and Digital Financial
No. S-1141/NB.223/2021 tanggal 29 Desember 2021. Innovation in letter No. S-1141/NB.223/2021 dated
29 December 2021.
Berdasarkan Akta Pernyataan Keputusan Para Pemegang Based on the Deed of Statement of Resolutions of
Saham di Luar Rapat No. 10 tanggal 28 Desember 2022 Shareholders Outside the Meeting No. 10 dated
yang dibuat di hadapan Geraldine H.S.S.U. Sianturi, S.H., 28 December 2022 made before Geraldine H.S.S.U.
M.Kn, Notaris di Kota Tangerang Selatan, yang telah Sianturi, S.H., M.Kn, Notary in South Tangerang City,
diterima dan dicatat pada Kementerian Hukum dan Hak which has been received and recorded at the Ministry of
Asasi Manusia Republik Indonesia dalam Surat No. AHU- Law and Human Rights of the Republic of Indonesia in
AH.01.03-0497389 tanggal 29 Desember 2022 mengenai Letter No. AHU-AH.01.03-0497389 dated 29 December
Perubahan Peningkatan Modal Ditempatkan dan Disetor 2022 regarding Changes in the Increase in Issued and
penuh sebesar 25.000 saham atau dengan nilai nominal Fully Paid-Up Capital of 25,000 shares or with a total
seluruh Rp 25.000.000.000 (nilai penuh). Dengan nominal value of Rp 25,000,000,000 (full amount). Thus,
demikian setelah peningkatan modal ditempatkan dan after the increase in the issued and paid-up capital of
disetor FIT menjadi 75.000 lembar saham dengan nilai the FIT to 75,000 shares with a total nominal value of
nominal seluruhnya sebesar Rp 75.000.000.000 (nilai Rp 75,000,000,000 (full amount).
penuh).
Peningkatan modal disetor FIT berdasarkan Akta The increase in the paid-us capital of FIT based on the
Pernyataan Keputusan Para Pemegang Saham Di Luar Deed of Statement of Resolutions of the Shareholders
Rapat (Sirkuler) No. 10 tanggal 28 Desember 2022 Outside the Meeting (Circular) No. 10 dated
tersebut, telah dilaporkan kepada OJK dan telah dicatat 28 December 2022, has been reported to the OJK and has
dalam administrasi Direktorat Perizinan Industri been recorded in the administration of the Directorate
Keuangan Non Bank dan Inovasi Keuangan Digital dalam of Licensing for the Non-Bank Financial Industry
surat No. S-2193/NB.021/2023 tanggal 14 Juni 2023. and Financial Innovation Digital in letter
No. S-2193/NB.021/2023 dated 14 June 2023.
Berdasarkan Akta Pernyataan Keputusan Rapat No. 9 Based on Deed of Meeting Decision Letter No. 9 dated
tanggal 7 November 2023 yang dibuat di hadapan 7 November 2023 made before Geraldine H.S.S.U.
Geraldine H.S.S.U. Sianturi, S.H., M.Kn, Notaris di Sianturi S.H., M.Kn, Notary in South Tangerang District,
Kota Tangerang Selatan, yang telah disetujui which has been approved by the Ministry of Law and
oleh Kementerian Hukum dan Hak Asasi Manusia Human Rights of the Republic of Indonesia in its Decision
Republik Indonesia dalam Surat No. AHU- Letter No. AHU-0243809.AH.01.11.TAHUN 2024 dated
0243809.AH.01.11.TAHUN 2024 tanggal 11 November 11 November 2024, regarding changes to purpose,
2024, mengenai perubahan maksud dan tujuan serta objectives and business activities and business activities
kegiatan usaha disesuaikan dengan KBLI 2020, susunan adjusted to the 2020 KBLI, the composition of the Board
Direksi dan Dewan Komisaris dan alamat lengkap FIT. of Directors and Board of Commissioners and the address
of FIT.
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 267
Page 268
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/8 Exhibit E/8
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
1. UMUM (Lanjutan) 1. GENERAL (Continued)
c. Entitas Anak Yang Dikonsolidasikan (Lanjutan) c. Consolidated Subsidiary (Continued)
Berdasarkan Akta Pernyataan Keputusan Para Pemegang Based on the Deed of Statement of Meeting Resolutions
Saham di Luar Rapat No. 9 tanggal 7 November 2024 Shareholders Outside the Meeting No. 9 dated
yang dibuat di hadapan Geraldine H.S.S.U. Sianturi, S.H., 7 November 2024 made before Geraldine H.S.S.U.
M.Kn, Notaris di Kota Tangerang Selatan, yang telah Sianturi, S.H., M.Kn, Notary in South Tangerang City,
diterima dan dicatat pada Kementerian Hukum dan Hak which has been received and recorded at the Ministry of
Asasi Manusia Republik Indonesia dalam Surat No. AHU- Law and Human Rights of the Republic of Indonesia in
AH.01.09-0274498 tanggal 11 November 2024 mengenai Letter No. AHU-AH.01.09-0274498 dated 11 November
perubahan susunan Dewan Komisaris dan Direksi 2024 regarding changes in the composition of the
Perusahaan. Sehingga pada tanggal 31 Desember 2024 Company's Board of Commissioners and Board of
dan 2023, susunan Dewan Komisaris dan Direksi Directors. Therefore, as of 31 December 2024 and 2023,
Perusahaan adalah sebagai berikut: the composition of the Company’s Board of
Commissioners and Board of Directors are as follows:
31 Desember/December
2024 2023
Dewan Komisaris Board of Commissioners
Presiden Komisaris Francis Lay Sioe Ho Francis Lay Sioe Ho President Commissioner
Komisaris Sudjono Sudjono Commissioner
Direksi Directors
Presiden Direktur Tjiu Herman Handoko Tjiu Herman Handoko President Director
Direktur Ichwan Peryana Ichwan Peryana Director
Direktur Muhamad Fauzi Purnama - Director
d. Entitas Pengendali d. Controlling Entity
Trinugraha Capital & Co. SCA adalah pemegang saham Trinugraha Capital & Co,. SCA is the controlling
pengendali Perusahaan. Jerry Ng (melalui Bravo shareholder of the Company. Jerry Ng (through Bravo
Investment Limited) dan Garibaldi Tohir merupakan Investment Limited) and Garibaldi Tohir are the
pemegang saham dari Trinugraha Capital & Co. SCA shareholders of Trinugraha Capital & Co. SCA whereas
sekaligus sebagai Pemilik Manfaat Akhir (Ultimate the Ultimate Beneficiary Owner of the Company.
Beneficiary Owner) dari Perusahaan.
e. Pembelian Kembali (BuyBack) Saham Perusahaan e. Treasury Shares
Pada tanggal 15 April 2015, Rapat Umum Pemegang On 15 April 2015, the Extraordinary General Meeting of
Saham Luar Biasa (RUPSLB) menyetujui pembelian Shareholders (EGMS) approved the buyback of
kembali saham yang beredar Perusahaan sampai jumlah outstanding shares of the Company up to a maximum of
maksimum sebanyak 10% dari seluruh jumlah saham yang 10% of the total shares issued and fully paid-up capital
ditempatkan dan disetor penuh Perusahaan atau of the Company or amounted of 154,993,456 shares
sebanyak-banyaknya sebesar 154.993.456 saham (before stock split). The funds reserved to repurchase
(sebelum pemecahan saham). Dana yang dicadangkan shares for a maximum period of 18 (eighteen) months
untuk pembelian kembali saham untuk periode paling from the EGMS should not more than Rp 341,000.
lama 18 (delapan belas) bulan sejak RUPSLB adalah tidak
lebih dari Rp 341.000.
Perusahaan telah melakukan pembelian kembali saham The Company has bought back its shares publicly traded
yang diperdagangkan di Bursa Efek Indonesia, on the Indonesia Stock Exchange, as allowed based on
yang diperkenankan berdasarkan Peraturan BAPEPAM–LK The Regulation of BAPEPAM–LK No.XI.B.2 Attachment to
No.XI.B.2 Lampiran Keputusan Ketua BAPEPAM-LK The Decree of The Chairman Of BAPEPAM-LK No.Kep-
No.Kep-105/BL/2010 tanggal 13 April 2010 tentang 105/BL/2010 dated 13 April 2010 regarding the Buyback
Pembelian Kembali Saham Yang Dikeluarkan oleh Emiten of Shares Issued by Issuers or Public Companies.
atau Perusahaan Publik.
Per tanggal 15 Oktober 2016, program pembelian kembali As of 15 October 2016, the shares buy back program was
saham ini dinyatakan berakhir dan jumlah saham yang officially ended and total shares bought back by the
telah dibeli kembali oleh Perusahaan adalah sebanyak Company was totaling 1,002,732,000 shares (after stock
1.002.732.000 saham (setelah pemecahan saham) dengan split) for a total purchase price of Rp 252,160.
nilai pembelian sebesar Rp 252.160.
Pelaksanaan pembelian kembali saham merupakan This repurchase transaction was intended to increase
salah satu bentuk usaha Perusahaan untuk the Company's capital management where the
meningkatkan manajemen permodalan Perusahaan implementation expected to increase the value of
dimana pelaksanaannya diharapkan akan meningkatkan Earnings per Share (EPS) (Note 20).
nilai laba bersih per saham Earnings per Share (EPS)
(Catatan 20).
268 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 269
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/9 Exhibit E/9
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
1. UMUM (Lanjutan) 1. GENERAL (Continued)
f. Surat Berharga yang Diterbitkan f. Securities Issued
Surat berharga yang diterbitkan selama 5 (lima) tahun Securities issued for the last 5 (five) years are as
terakhir adalah sebagai berikut: follows:
Tanggal Jumlah
pencatatan di Tanggal Total per seri Status
Bursa Efek efektif/ emisi/ obligasi/ Tanggal pembayaran/
Surat berharga/ Indonesia/ Effective Amount Amount per jatuh tempo/ Payment
Securities Listing date date issued serial Due date status
Obligasi Berkelanjutan V 21 Mei/
BFI Finance Indonesia May 2021
(No.S-66/D.04/2021)
Total limit :
(Rp 6.000.000)
Tahap I Tahun 2021 31 Mei/ 600.000
Seri/Serial A: May 2021 200.000 8 Juni/
June 2022 Lunas/Paid
Seri/Serial B: 400.000 28 Mei/
May 2024 Lunas/Paid
Tahap II Tahun 2021 9 Agustus/ 1.000.000
Seri/Serial A: August 2021 210.000 16 Agustus/
August 2022 Lunas/Paid
Seri/Serial B: 260.000 6 Agustus/
August 2023 Lunas/Paid
Seri/Serial C: 530.000 6 Agustus/
August 2024 Lunas/Paid
Tahap III Tahun 2023 30 Januari/ 1.100.000
Seri/Serial A: January 2023 617.000 7 Februari/
February 2024 Lunas/Paid
Seri/Serial B: 227.000 27 Januari/ Belum jatuh tempo/
January 2025 Not yet due
Seri/Serial C: 256.000 27 Januari/ Belum jatuh tempo/
January 2026 Not yet due
Tahap IV Tahun 2023 17 April 1.600.000
Seri/Serial A: 2023 590.000 24 April
2024 Lunas/Paid
Seri/Serial B: 385.000 14 April Belum jatuh tempo/
2025 Not yet due
Seri/Serial C: 625.000 14 April Belum jatuh tempo/
2026 Not yet due
Tahap V Tahun 2023 16 Juni/ 1.100.000
Seri/Serial A: June 2023 250.000 25 Juni/
June 2024 Lunas/Paid
Seri/Serial B: 850.000 15 Juni/ Belum jatuh tempo/
June 2026 Not yet due
Obligasi Berkelanjutan VI 18 September
BFI Finance Indonesia 2024
(No.S-130/D.04/2024)
Total limit :
(Rp 6.000.000)
Tahap I Tahun 2024 26 September 600.000
Seri/Serial A: 2024 100.000 5 Oktober/ Belum jatuh tempo/
October 2025 Not yet due
Seri/Serial B: 200.000 25 September Belum jatuh tempo/
2026 Not yet due
Seri/Serial C: 300.000 25 September Belum jatuh tempo/
2027 Not yet due
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 269
Page 270
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/10 Exhibit E/10
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
1. UMUM (Lanjutan) 1. GENERAL (Continued)
g. Dewan Komisaris, Direksi, Dewan Pengawas Syariah, g. Board of Commissioners, Board of Directors, Sharia
Komite Audit, Internal Audit, Sekretaris Perusahaan Supervisory Board, Audit Committee, Internal Audit,
dan Karyawan Corporate Secretary and Employees
Berdasarkan Akta Pernyataan Keputusan Rapat No. 7 Based on Deed of Meeting Decision Letter No. 7 dated
tanggal 22 Mei 2024 yang dibuat di hadapan Shanti Indah 22 May 2024 made before Shanti Indah Lestari, S.H.,
Lestari, S.H., M.Kn, Notaris di Kabupaten Tangerang, M.Kn, Notary in Tangerang District, which has been
yang telah diterima dan dicatat pada Kementerian Hukum accepted and recorded by the Ministry of Law and Human
dan Hak Asasi Manusia Republik Indonesia dalam Surat Rights of the Republic of Indonesia in its Decision Letter
No. AHU-AH.01.09-0210827 tanggal 6 Juni 2024, No. AHU-AH.01.09-0210827 dated 6 June 2024, as stated
sebagaimana ditegaskan kembali dalam Akta Pernyataan in the Deed of Meeting Decision Letter No. 5 dated
Keputusan Rapat No. 5 tanggal 12 November 2024 yang 12 November 2024 made before Shanti Indah Lestari,
dibuat di hadapan Shanti Indah Lestari, S.H., M.Kn, S.H., M.Kn, Notary in Tangerang District, which has been
Notaris di Kabupaten Tangerang, yang telah diterima dan accepted and recorded by the Ministry of Law and Human
dicatat pada Kementerian Hukum dan Hak Asasi Manusia Rights of the Republic of Indonesia in its Decision Letter
Republik Indonesia dalam Surat No. AHU-AH.01.09- No. AHU-AH.01.09-0277608 dated 20 November 2024, the
0277608 tanggal 20 November 2024, susunan Dewan composition of the Company’s Board of Commisioners,
Komisaris, Direksi dan Dewan Pengawas Syariah Board of Directors and Sharia Supervisory Board as of
Perusahaan pada tanggal 31 Desember 2024 adalah 31 December 2024 are as follows:
sebagai berikut:
31 Desember/December
2024
Dewan Komisaris Board of Commissioners
Presiden Komisaris : Kusmayanto Kadiman : President Commissioner
Komisaris (Independen) : Johanes Sutrisno : Commissioner (Independent)
Komisaris (Independen) : Alfonso Napitupulu : Commissioner (Independent)
Komisaris : Sunata Tjiterosampurno : Commissioner
Komisaris : Saurabh Narayan Agarwal : Commissioner
Direksi Board of Directors
Presiden Direktur : Francis Lay Sioe Ho* : President Director
Direktur Bisnis & Manajemen Aset : Sutadi : Business & Asset Management Director
Direktur Keuangan : Sudjono : Finance Director
Direktur Operasional : Andrew Adiwijanto* : Operations Director
Direktur Transformasi : Goklas : Transformation Director
*) Francis Lay Sioe Ho dan Andrew Adiwijanto mengundurkan diri selaku *) Francis Lay Sioe Ho and Andrew Adiwijanto has resigned as the
Presiden Direktur dan Direktur Operasional berdasarkan surat tertanggal Company’s President Director and Operations Director based on letter
27 Desember 2024 dan Keterbukaan Informasi tertanggal 30 Desember dated 27 December 2024 and Information Disclosure dated 30 December
2024. 2024.
31 Desember/December
2024
Dewan Pengawas Syariah Sharia Supervisory Board
Ketua : Asrori S. Karni : Chairman
Anggota : Helda Rahmi Sina : Member
Berdasarkan Akta Pernyataan Keputusan Rapat No. 8 Based on Deed of Meeting Decision Letter No. 8 dated
tanggal 16 Mei 2023 yang dibuat di hadapan Shanti Indah 16 May 2023 made before Shanti Indah Lestari, S.H.,
Lestari, S.H., M.Kn, Notaris di Kabupaten Tangerang, M.Kn, Notary in Tangerang District, which has been
yang telah diterima dan dicatat pada Kementerian Hukum accepted and recorded by the Ministry of Law and Human
dan Hak Asasi Manusia Republik Indonesia dalam Surat No. Rights of the Republic of Indonesia in its Decision Letter
AHU-AH.01.09-0123964 tanggal 6 Juni 2023, sebagaimana No. AHU-AH.01.09-0123964 dated 6 June 2023, as stated
ditegaskan kembali dalam Akta Pernyataan Keputusan in the Deed of Meeting Decision Letter No. 6 dated
Rapat No. 6 tanggal 18 Januari 2024 yang dibuat di 18 January 2024 made before Shanti Indah Lestari, S.H.,
hadapan Shanti Indah Lestari, S.H., M.Kn, Notaris di M.Kn, Notary in Tangerang District, which has been
Kabupaten Tangerang, yang telah diterima dan dicatat accepted and recorded by the Ministry of Law and Human
pada Kementerian Hukum dan Hak Asasi Manusia Republik Rights of the Republic of Indonesia in its Decision Letter
Indonesia dalam Surat No. AHU-AH.01.09-0032388 tanggal No. AHU-AH.01.09-0032388 dated 24 January 2024, the
24 Januari 2024, susunan Dewan Komisaris, Direksi dan composition of the Company’s Board of Commisioners,
Dewan Pengawas Syariah Perusahaan pada tanggal Board of Directors and Sharia Supervisory Board as of
31 Desember 2023 adalah sebagai berikut: 31 December 2023 are as follows:
31 Desember/December
2023
Dewan Komisaris Board of Commissioners
Presiden Komisaris : Kusmayanto Kadiman : President Commissioner
Komisaris (Independen) : Johanes Sutrisno : Commissioner (Independent)
270 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 271
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/11 Exhibit E/11
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
1. UMUM (Lanjutan) 1. GENERAL (Continued)
g. Dewan Komisaris, Direksi, Dewan Pengawas Syariah, g. Board of Commissioners, Board of Directors, Sharia
Komite Audit, Internal Audit, Sekretaris Perusahaan Supervisory Board, Audit Committee, Internal Audit,
dan Karyawan (Lanjutan) Corporate Secretary and Employees (Continued)
Berdasarkan Akta Pernyataan Keputusan Rapat No. 8 Based on Deed of Meeting Decision Letter No. 8 dated
tanggal 16 Mei 2023 yang dibuat di hadapan Shanti Indah 16 May 2023 made before Shanti Indah Lestari, S.H.,
Lestari, S.H., M.Kn, Notaris di Kabupaten Tangerang, M.Kn, Notary in Tangerang District, which has been
yang telah diterima dan dicatat pada Kementerian Hukum accepted and recorded by the Ministry of Law and Human
dan Hak Asasi Manusia Republik Indonesia dalam Surat Rights of the Republic of Indonesia in its Decision Letter
No. AHU-AH.01.09-0123964 tanggal 6 Juni 2023, No. AHU-AH.01.09-0123964 dated 6 June 2023, as stated
sebagaimana ditegaskan kembali dalam Akta Pernyataan in the Deed of Meeting Decision Letter No. 6 dated
Keputusan Rapat No. 6 tanggal 18 Januari 2024 yang 18 January 2024 made before Shanti Indah Lestari, S.H.,
dibuat di hadapan Shanti Indah Lestari, S.H., M.Kn, M.Kn, Notary in Tangerang District, which has been
Notaris di Kabupaten Tangerang, yang telah diterima dan accepted and recorded by the Ministry of Law and Human
dicatat pada Kementerian Hukum dan Hak Asasi Manusia Rights of the Republic of Indonesia in its Decision Letter
Republik Indonesia dalam Surat No. AHU-AH.01.09- No. AHU-AH.01.09-0032388 dated 24 January 2024, the
0032388 tanggal 24 Januari 2024, susunan Dewan composition of the Company’s Board of Commisioners,
Komisaris, Direksi dan Dewan Pengawas Syariah Board of Directors and Sharia Supervisory Board as of
Perusahaan pada tanggal 31 Desember 2023 adalah 31 December 2023 are as follows: (Continued)
sebagai berikut: (Lanjutan)
31 Desember/December
2023
Dewan Komisaris Board of Commissioners
Komisaris (Independen) : Alfonso Napitupulu : Commissioner (Independent)
Komisaris : Sunata Tjiterosampurno : Commissioner
Komisaris : Saurabh Narayan Agarwal : Commissioner
Direksi Board of Directors
Presiden Direktur : Francis Lay Sioe Ho : President Director
Direktur Keuangan : Sudjono : Finance Director
Direktur Bisnis : Sutadi : Business Director
Direktur Operasional dan Sumber Operations and Human Capital
Daya Manusia : Andrew Adiwijanto : Director
Dewan Pengawas Syariah Sharia Supervisory Board
Ketua : Asrori S. Karni : Chairman
Anggota : Helda Rahmi Sina : Member
Susunan Komite Audit Perusahaan dan Entitas Anaknya The composition of the Audit Committee of the Company
pada tanggal 31 Desember 2024 dan 2023 adalah sebagai and Its Subsidiary as of 31 December 2024 and 2023 are
berikut: as follows:
31 Desember/December
2024 2023
Komite Audit Audit Committee
Ketua : Johanes Sutrisno : Chairman
Anggota : Edy Sugito : Member
Anggota : Friso Palilingan : Member
Internal Audit Internal Audit
Berdasarkan Surat Keputusan Direksi Perusahaan Based on the Virtue of the Board of Directors of
No. SK/BOD/VII/14-009 tanggal 16 Juli 2014, Kepala the Company No. SK/BOD/VII/14-009 dated 16 July 2014,
Unit Internal Audit Perusahaan pada tanggal Head of Internal Audit Unit of the Company as of
31 Desember 2024 dan 2023 adalah Fledy Rizmara. 31 December 2024 and 2023 is Fledy Rizmara.
Sekretaris Perusahaan Corporate Secretary
Berdasarkan Surat Keputusan Direksi Perusahaan Based on the Virtue of the Board of Directors
No. BOD-BOC/VI/2014-0011 tanggal 24 Juni 2014, of the Company No. BOD-BOC/VI/2014-0011 dated
Sekretaris Perusahaan pada tanggal 31 Desember 2024 24 June 2014, Corporate Secretary as of 31 December
dan 2023 adalah Sudjono. 2024 and 2023 is Sudjono.
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 271
Page 272
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/12 Exhibit E/12
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
1. UMUM (Lanjutan) 1. GENERAL (Continued)
g. Dewan Komisaris, Direksi, Dewan Pengawas Syariah, g. Board of Commissioners, Board of Directors, Sharia
Komite Audit, Internal Audit, Sekretaris Perusahaan Supervisory Board, Audit Committee, Internal Audit,
dan Karyawan (Lanjutan) Corporate Secretary and Employees (Continued)
Karyawan Employees
Pada tanggal 31 Desember 2024 dan 2023, Perusahaan dan As of 31 December 2024 and 2023, the Company and Its
Entitas Anaknya mempunyai 5.743 dan 6.326 karyawan Subsidiary have 5,743 and 6,326 permanent employees;
tetap; dan 4.455 dan 4.881 karyawan tidak tetap. and 4,455 and 4,881 non-permanent employees.
Personil manajemen kunci Perusahaan mencakup anggota Key management personnel of the Company consist of
Dewan Komisaris dan Direksi. members of Board of Commissioners and Board of
Directors.
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY INFORMATION
Kebijakan-kebijakan akuntansi di bawah ini telah diterapkan The significant accounting policies set out below have been
secara konsisten pada seluruh periode yang disajikan dalam applied consistently to all periods presented in these
laporan keuangan konsolidasian ini. consolidated financial statements.
Laporan keuangan konsolidasian Perusahaan dan Entitas The consolidated financial statements of the Company and
Anaknya disetujui untuk diterbitkan oleh Direksi pada tanggal Its Subsidiary were authorized for issuance by Board of
24 Februari 2025. Directors on 24 February 2025.
a. Pernyataan Kepatuhan a. Statement of Compliance
Laporan keuangan konsolidasian telah disusun dan The consolidated financial statements have been
disajikan sesuai dengan Standar Akuntansi Keuangan di prepared and presented in accordance with Indonesian
Indonesia (“PSAK”), termasuk Interpretasi Standar Financial Accounting Standards (“IFAS”), which includes
Akuntansi Keuangan, yang diterbitkan oleh Ikatan the Interpretations of Financial Accounting Standards,
Akuntan Indonesia (IAI) dan Peraturan Badan Pengawas issued by the Indonesian Institute of Accountants
Pasar Modal dan Lembaga Keuangan (“Bapepam-LK”, yang and the Capital Market and Financial Institution
fungsinya dialihkan kepada Otoritas Jasa Keuangan Supervisory Agency (“Bapepam-LK”, which the function
(“OJK”) sejak tanggal 1 Januari 2013) No. VIII.G.7 tentang has been transferred to Financial Service Authority
“Penyajian dan Pengungkapan Laporan Keuangan Emiten (“OJK”) since 1 January 2013) Regulation No. VIII.G.7
atau Perusahaan Publik” yang terdapat dalam Lampiran regarding “Emiten or Public Company’s Financial
Keputusan Ketua Bapepam-LK No. KEP-347/BL/2012 Statements Presentation and Disclosure Guidelines” as
tanggal 25 Juni 2012. included in the Appendix of the Decision Decree of the
Chairman of Bapepam-LK No. KEP-347/BL/2012 dated
25 June 2012.
b. Dasar Penyusunan Laporan Keuangan Konsolidasian b. Basis of Preparation of the Consolidated Financial
Statements
Laporan keuangan konsolidasian, kecuali laporan arus kas The consolidated financial statements, except the
konsolidasian, disusun atas dasar akrual dan berdasarkan consolidated statement of cash flows, were prepared on
konsep nilai historis, kecuali untuk instrumen keuangan the accrual basis and under the historical cost concepts,
derivatif yang diukur pada nilai wajar dan utang atas excepts for derivative financial instruments which are
kewajiban imbalan pasca-kerja yang diakui sebesar nilai measured at fair value and the liability for post-
kini kewajiban imbalan pasti dikurangi dengan nilai wajar employment benefit obligations which is recognized at
aset program. the present value of defined benefit obligations less the
fair value of plan asset.
Laporan arus kas konsolidasian disusun dengan The consolidated statement of cash flows are prepared
menggunakan metode langsung dengan mengelompokkan based on the direct method by classifying cash flows on
arus kas ke dalam aktivitas operasi, investasi dan the basis of operating, investing and financing activities.
pendanaan.
Seluruh angka dalam laporan keuangan konsolidasian ini Figures in the consolidated financial statements are
dibulatkan menjadi dan disajikan dalam jutaan Rupiah rounded to and expressed in millions of Rupiah, unless
yang terdekat, kecuali dinyatakan lain. otherwise stated.
272 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 273
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/13 Exhibit E/13
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL (Lanjutan) 2. MATERIAL ACCOUNTING POLICY INFORMATION (Continued)
b. Dasar Penyusunan Laporan Keuangan Konsolidasian b. Basis of Preparation of the Consolidated Financial
(Lanjutan) Statements (Continued)
Transaksi-transaksi yang termasuk dalam laporan Items included in the consolidated financial statements
keuangan konsolidasian pada tiap entitas diukur dengan of each entities are measured using the currency of
mata uang lingkungan ekonomi utama di mana entitas primary economic environment in which the entity
beroperasi (mata uang fungsional). Laporan keuangan operates (the functional currency). The consolidated
konsolidasian disajikan dalam Rupiah, yang merupakan financial statements are presented in Rupiah, which is
mata uang fungsional dan penyajian Perusahaan dan the Company and Its Subsidiary’ functional and
Entitas Anaknya. presentation currency.
Kebijakan-kebijakan akuntansi di bawah ini telah The significant accounting policies set out below have
ditetapkan secara konsisten pada seluruh periode yang been applied consistenly to all periods presented in
disajikan dalam laporan keuangan ini. these financial statements.
c. Perubahan Kebijakan Akuntansi c. Change in Accounting Policies
Perubahan atas Pernyataan Standar Akuntansi Changes to Statement of Financial Accounting
Keuangan (“PSAK”) dan Interpretasi Standar Akuntansi Standards ("SFAS") and Interpretations of Financial
Keuangan (“ISAK”) yang berlaku efektif pada periode Accounting Standards ("IFAS") effective in the current
berjalan period
Amandemen standar akuntansi berikut berlaku efektif Amendments of the following accounting standards
untuk tahun yang dimulai pada atau setelah 1 Januari effective for the year beginning on or after 1 January
2024 yaitu: 2024 are as follows:
- Amandemen PSAK No 201, Penyajian Laporan - Amendmet to SFAS 201, Non-Current Liabilities with
Keuangan – Liabilitas Jangka Panjang dengan Covenants that is adopted from amendment of IAS 1,
Kovenan yang diadopsi dari IAS 1, “Presentation of “Presentation of Financial Statements”.
Financial Statement”.
- Amandemen PSAK 116 “Sewa” – Liabilitas Sewa - Amendment to SFAS 116 “Leases” – Lease Liabilities
pada Transaksi Jual Dan Sewa-Balik, yang diadopsi in Sale-and-Leaseback Transactions adopted from
dari amandemen IFRS 16, “Lease”. amendment of IFRS 16, “Lease”
- PSAK 207, “Laporan Arus Kas”, terkait dengan - SFAS 207, “Statements Cash Flows” about
Pengungkapan terkait Pengaturan Pembiayaan Disclosures related to Supplier Financing
Pemasok. Arrangements.
Standar akuntansi baru dan amandemen yang berlaku New Accounting Standard and amendment of the
efektif untuk tahun buku yang dimulai 1 Januari 2025, following standards effective for the year beginning on
tetapi penerapan dini diperkenankan, adalah sebagai or after 1 January 2025 are as follows:
berikut:
- PSAK 117, “Kontrak Asuransi” - SFAS 117, “Insurance Contract”
- Amandemen PSAK 117, “Kontrak Asuransi”, terkait - Amendment to SFAS 117, “Insurance Contract”
Penerapan Awal PSAK No. 117 dan PSAK No. 232 – regarding Initial Application of SFAS 117 and SFAS
Informasi Komparatif. 232 – Comparative Information
- Amandemen PSAK 221, “Pengaruh Perubahan Kurs - Amendment to SFAS 221, “Effects of Changes in
Valuta Asing – Kekurangan Ketertukaran” Foreign Exchange Rates”
Manajemen berpendapat penerapan dari amandemen Management believes the implementation of
diatas tidak menimbulkan perubahan substansial atas amendments did not result in substantial changes to the
kebijakan akuntansi Perusahaan dan Entitas Anaknya dan Company and Its Subsidiary’s accounting policies and had
tidak berdampak material pada Laporan Keuangan no material impact on the Consolidated Financial
Konsolidasian. Statements.
d. Prinsip Konsolidasian d. Principles of Consolidation
Laporan keuangan konsolidasian meliputi laporan The consolidated financial statement consists of the
keuangan Perusahaan dan Entitas Anak. Transaksi antar Company and Its Subsidiary financial statements.
entitas dan saldo antara Perusahaan dan Entitas anak Intercompany transactions and balance between The
dieliminasi secara penuh. Company and Its Subsidiary are therefore eliminated in
full.
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 273
Page 274
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/14 Exhibit E/14
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL (Lanjutan) 2. MATERIAL ACCOUNTING POLICY INFORMATION (Continued)
d. Prinsip Konsolidasian (Lanjutan) d. Principles of Consolidation (Continued)
Entitas Anak merupakan investee yang dikendalikan oleh A subsidiary is when an entity has control over an
Perusahaan. Perusahaan mengendalikan investee jika investee. The entity controls an investee if all three of
tiga elemen berikut terpenuhi: pengendalian atas the following elements are present: power over the
investee, eksposur atas hak imbal hasil variable dari investee, exposure to variable returns from the investee,
keterlibatannya dengan investee, dan kemampuan untuk and the ability of the investor to use its power to affect
menggunakan pengendaliannya atas investee untuk those variable returns. Control is reassessed whenever
mempengaruhi jumlah imbal hasil variabel dari investor. facts and circumstances indicate that there may be a
Pengendalian dapat dikaji kembali ketika fakta dan change in any of these elements of control.
kondisi mengindikasikan terdapat kemungkinan
perubahan pada elemen pengendalian tersebut.
Kepentingan nonpengendali merupakan proporsi atas Non-controlling interests represent the proportion of the
hasil usaha dan aset neto Entitas Anak yang tidak results and net assets of Subsidiary not attributable to
diatribusikan pada Perusahaan. the Company.
Perusahaan mengakui kepentingan nonpengendali The Company recognizes any non-controlling interest in
pada pihak yang diakuisisi baik sebesar nilai wajar atau the acquiree on an acquisitions-by-acquisition basis,
sebesar bagian proporsional kepentingan nonpengendali either at fair value or at the non-controlling interest
atas aset neto pihak yang diakuisisi. Kepentingan proportionate share of the acquiree’s net assets. Non-
nonpengendali disajikan di ekuitas dalam laporan posisi controlling interests is reported as equity in the
keuangan konsolidasian, terpisah dari ekuitas pemilik consolidated statement of financial position, separate
Entitas Induk. from the owner of the Parent’s equity.
e. Aset dan Liabilitas Keuangan e. Financial Assets and Liabilities
Aset keuangan diklasifikasikan ke dalam kategori Financial assets are classified in categories of
(i) diukur pada nilai wajar melalui laporan laba rugi, (i) fair value through profit or loss, (ii) amortised cost,
(ii) biaya perolehan diamortisasi, dan (iii) aset keuangan and (iii) fair value through other comprehensive
yang diukur pada nilai wajar pendapatan komprehensif income. At initial measurement, financial assets
lain. Pada pengakuan awal, aset keuangan diukur pada determined based on fair value, added with transactions
nilai wajar, ditambah biaya transaksi yang dapat cost attributable direct to financial assets. Management
diatribusikan langsung untuk aset keuangan yang yang determines the classification of its financial assets prior
diukur pada biaya perolehan diamortisasi dan pendapatan initial recognition based on assessment of businesss
komprehensif lain. Manajemen menentukan klasifikasi model for managing the financial assets or contractual
aset keuangan tersebut setelah pengakuan awal aset cashflows give rise to solely payments of principal and
keuangan berdasarkan model bisnis entitas dalam interest.
mengelola aset keuangan atau karakteristik arus kas
kontraktual hanya dari pembayaran pokok dan bunga saja.
e.1. Klasifikasi e.1. Classification
Perusahaan dan Entitas Anaknya mengklasifikasi aset The Company and Its Subsidiary classify its financial
keuangannya dalam kategori: assets into the following category:
(i) Aset keuangan yang diukur pada nilai wajar (i) Financial assets at fair value through profit or
melalui laporan laba rugi loss
Aset keuangan yang diukur pada nilai wajar Financial assets at fair value through profit
melalui laporan laba rugi adalah aset keuangan or loss are financial assets classified as held for
yang diperdagangkan. Entitas dapat menetapkan trading. Entity may determine at initial
pilihan yang tidak dapat dibatalkan pada saat classification of an uncancellable chosen
pengakuan awal atas investasi pada intrumen category of an financial asset on a certain equity
ekuitas tertentu yang pada umumnya diukur pada instrument which commonly measured the fair
nilai wajar melalui laba rugi sehingga perubahan value through profit and loss rise change in the
nilai wajarnya disajikan dalam penghasilan fair value presented under fair value through
komprehensif lain. other comprehensive income.
274 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 275
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/15 Exhibit E/15
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL (Lanjutan) 2. MATERIAL ACCOUNTING POLICY INFORMATION (Continued)
e. Aset dan Liabilitas Keuangan (Lanjutan) e. Financial Assets and Liabilities (Continued)
e.1. Klasifikasi (Lanjutan) e.1. Classification (Continued)
Perusahaan dan Entitas Anaknya mengklasifikasi aset The Company and Its Subsidiary classify its financial
keuangannya dalam kategori: (Lanjutan) assets into the following category: (Continued)
(ii) Biaya perolehan diamortisasi (ii) Amortised cost
Aset keuangan diukur pada biaya perolehan Financial assets determined under amortised
diamortisasi jika memenuhi kriteria sebagai cost if met criteria as autlined below:
berikut:
a. aset keuangan dikelola dalam bisnis yang a. financial assets held within a business whose
bertujuan untuk memiliki arus kas keuangan objective is to hold financial assets in order
dalam rangka mendapatkan arus kas to collect contractual cashflows; and
kontraktual; dan
b. persyaratan kontraktual aset keuangan yang b. determining contractual financial assets give
menimbulkan arus kas yang hanya dari rise to solely payments of principal and
pembayaran pokok dan bunga. interest.
Pada saat pengakuan awal, aset keuangan diakui Financial assets are initially recognised at fair
pada nilai wajarnya ditambah nilai transaksi dan value plus transaction costs and subsequently
selanjutnya diukur pada biaya perolehan measured at amortised cost using the effective
diamortisasi dengan menggunakan metode suku interest rate method, less provision for
bunga efektif, dikurangi cadangan penurunan impairment.
nilai.
(iii) Aset keuangan yang diukur pada nilai wajar (iv)(iii) A Fair value through other comprehensive
penghasilan komprehensif lain income
Aset keuangan yang diukur pada nilai wajar Fair value through other comprehensive income
pendapatan komprehensif lain adalah aset are non-derivative financial assets with fixed or
keuangan non-derivatif dengan pembayaran tetap determined payments and fixed maturities that
atau telah ditentukan dan jatuh temponya telah the management has positive intention and
ditetapkan, serta manajemen mempunyai intensi ability to hold to maturity, other than:
positif dan kemampuan untuk memiliki aset
keuangan tersebut hingga jatuh tempo, kecuali:
a. Aset keuangan dikelola dalam model bisnis a. Financial assets managed under business
yang tujuannya akan terpenuhi dengan model which its objective is to both collect
mendapatkan arus kas kontraktual dan the contractual cash flows and sell the
menjual aset keuangan; dan financial assets; and
b. Persyaratan kontraktual dari aset keuangan b. Contractual cash flows characteristics test
tersebut memberikan hak pada tanggal resulting rights on certain basic term of
tertentu atas arus kas yang hanya dari cashflows meets the solely payments of
pembayaran pokok dan bunga dari jumlah principal and interest.
pokok terutang.
Perusahaan dan Entitas Anaknya mengklasifikasi The Company and Its Subsidiary classify its financial
liabilitas keuangannya dalam kategori: liabilities into the following category:
(i) Liabilitas keuangan yang diukur pada nilai wajar (i) Financial liabilities at fair value through
melalui laporan laba rugi profit or loss
Liabilitas keuangan yang diukur pada nilai wajar Financial liabilities at fair value through profit
melalui laporan laba rugi adalah liabilitas or loss are financial liabilities classified as held
keuangan yang diperdagangkan. for trading.
Liabilitas keuangan diklasifikasikan sebagai A financial liability is classified as held for
liabilitas keuangan yang diperdagangkan jika trading if it is acquired principally for the
perolehannya ditujukan untuk dijual atau dibeli purpose of selling or repurchasing it in the
kembali dalam waktu dekat dan terdapat adanya short-term and there is evidence of a recent
kecenderungan ambil untung. actual pattern of profit taking.
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 275
Page 276
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/16 Exhibit E/16
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL (Lanjutan) 2. MATERIAL ACCOUNTING POLICY INFORMATION (Continued)
e. Aset dan Liabilitas Keuangan (Lanjutan) e. Financial Assets and Liabilities (Continued)
e.1. Klasifikasi (Lanjutan) e.1. Classification (Continued)
Perusahaan dan Entitas Anaknya mengklasifikasi The Company and Its Subsidiary classify its financial
liabilitas keuangannya dalam kategori: (Lanjutan) liabilities into the following category: (Continued)
(ii) Liabilitas keuangan yang diukur dengan biaya (iii) (ii) Financial liabilities measured at amortized
perolehan diamortisasi cost
Liabilitas keuangan yang tidak diklasifikasikan Financial liabilities that are not classified as at
sebagai liabilitas keuangan yang diukur pada nilai fair value through profit and loss fall into this
wajar melalui laporan laba rugi diklasifikasikan category and are measured at amortized cost.
dalam kategori ini dan diukur pada biaya
perolehan diamortisasi.
Perusahaan dan Entitas Anaknya mengelompokkan The Company and Its Subsidiary classify all of its
seluruh liabilitas keuangannya sebagai liabilitas financial liabilities as other financial liabilities
keuangan lainnya yang diukur pada biaya perolehan measured at amortized cost, except for derivative
diamortisasi, kecuali untuk liabilitas derivatif yang liabilities which are classified as financial
diklasifikasikan sebagai instrumen keuangan yang instruments measured at fair value through profit or
diukur pada nilai wajar melalui laba rugi. loss (“FVTPL”).
e.2. Pengakuan e.2. Recognition
Perusahaan dan Entitas Anaknya pada awalnya The Company and Its Subsidiary initially recognize
mengakui aset dan liabilitas keuangan pada tanggal financial assets and liabilities on the date of their
perolehan aset dan liabilitas keuangan tersebut. origination.
Pada saat pengakuan awal, aset atau liabilitas At intial recognition, the Company and Its
keuangan Perusahaan dan Entitas Anaknya diukur Subsidiary’s financial assets or liabilities are
pada nilai wajar ditambah/dikurangi (untuk instrumen measured at fair value plus/minus (for financial
keuangan yang tidak diukur pada nilai wajar melalui instruments not subsequently measured at fair value
laba rugi setelah pengakuan awal) biaya transaksi through profit or loss) transaction costs that are
yang dapat diatribusikan secara langsung atas directly attributable to the acquisition of financial
perolehan aset keuangan atau penerbitan liabilitas assets or issue of financial liabilities. The
keuangan. Pengukuran aset dan liabilitas keuangan subsequent measurement of financial assets and
setelah pengakuan awal tergantung pada klarifikasi liabilities depends on their classifications.
aset dan liabilitas keuangan tersebut.
Biaya transaksi hanya meliputi biaya-biaya yang dapat Transaction costs include only those costs that are
diatribusikan secara langsung untuk perolehan suatu directly attributable to the acquisition of a financial
aset keuangan atau penerbitan suatu liabilitas asset or issuance of a financial liability and they are
keuangan dan merupakan biaya tambahan yang tidak incremental costs that would not have been incurred
akan terjadi apabila instrumen keuangan tersebut if the instrument had not been acquired or issued.
tidak diperoleh atau diterbitkan. Untuk aset In the case of financial assets, transaction costs are
keuangan, biaya transaksi ditambahkan pada jumlah added to the amount recognized initially, while for
yang diakui pada awal pengakuan aset, sedangkan financial liabilities, transaction costs are deducted
untuk liabilitas keuangan, biaya transaksi dikurangkan from the amount of debt recognized initially. Such
dari jumlah utang yang diakui pada awal pengakuan transaction costs are amortized over the terms of
liabilitas. Biaya transaksi tersebut diamortisasikan the instruments based on the effective interest
selama umur instrumen berdasarkan metode suku method and are recorded as part of financing income
bunga efektif dan dicatat sebagai bagian dari for transaction costs related to financial assets and
pendapatan pembiayaan untuk biaya transaksi as part of interest and financing charges for
sehubungan dengan aset keuangan dan sebagai bagian transaction costs related to financial liabilities.
dari beban bunga dan keuangan untuk biaya transaksi
sehubungan dengan liabilitas keuangan.
Setelah pengakuan awal, pinjaman yang diberikan dan Subsequent to initial recognition, loans and
piutang dicatat pada biaya perolehan diamortisasi receivables are measured at amortized cost using
dengan menggunakan metode suku bunga efektif. the effective interest method.
Setelah pengakuan awal, Perusahaan mengukur Subsequent to initial recognition, the Company
seluruh liabilitas keuangan dicatat pada biaya measures all financial liabilities at amortized cost
perolehan diamortisasi dengan menggunakan metode using the effective interest method.
suku bunga efektif.
276 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 277
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/17 Exhibit E/17
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL (Lanjutan) 2. MATERIAL ACCOUNTING POLICY INFORMATION (Continued)
e. Aset dan Liabilitas Keuangan (Lanjutan) e. Financial Assets and Liabilities (Continued)
e.3. Penghentian pengakuan e.3. Derecognition
Perusahaan dan Entitas Anaknya menghentikan The Company and Its Subsidiary derecognize a
pengakuan aset keuangan pada saat hak kontraktual financial asset when the contractual rights to the
atas arus kas yang berasal dari aset keuangan tersebut cash flows from the asset expire, or when the
kadaluarsa, atau pada saat Perusahaan dan Entitas Company and Its Subsidiary transfer the rights to
Anaknya mentransfer seluruh hak untuk menerima receive the contractual cash flows on the financial
arus kas kontraktual dari aset keuangan dalam asset in a transaction in which substantially all the
transaksi di mana Perusahaan secara substansial telah risks and rewards of ownership of the financial asset
mentransfer seluruh risiko dan manfaat atas are transferred. Any interest in transferred
kepemilikan aset keuangan yang ditransfer. Setiap financial assets that is created or retained by the
hak atau kewajiban atas aset keuangan yang Company is recognized as a separate asset or
ditransfer yang timbul atau yang masih dimiliki oleh liability.
Perusahaan diakui sebagai aset atau liabilitas secara
terpisah.
Perusahaan dan Entitas Anaknya menghentikan The Company and Its Subsidiary derecognize
pengakuan piutang pembiayaan pada saat financing receivables at the time when the vehicle
dilakukannya penarikan jaminan kendaraan. Selain collateral has been taken out. In addition, the
itu, Perusahaan menghentikan pengakuan liabilitas Company derecognizes a financial liability when its
keuangan pada saat liabilitas yang ditetapkan dalam contractual obligations are discharged or cancelled
kontrak dilepaskan atau dibatalkan atau kadaluarsa. or expired.
Dalam transaksi di mana Perusahaan dan Entitas In transaction where the Company and Its Subsidiary
Anaknya secara subtansial tidak memiliki atau tidak neither retain nor transfer substantially all the risks
mentransfer seluruh risiko dan manfaat atas and rewards of a financial asset, the Company and
kepemilikan aset keuangan, Perusahaan dan Entitas Its Subsidiary derecognize the asset if it does not
Anaknya menghentikan pengakuan aset tersebut jika retain control over the asset. The right and
Perusahaan tidak lagi memiliki pengendalian atas obligation retained in the transfer are recognized
aset tersebut. Hak dan kewajiban yang timbul atau separately as assets and liabilities as appropriate.
yang masih dimiliki dalam transfer tersebut diakui In transfers where control over the asset is retained,
secara terpisah sebagai aset atau liabilitas. Dalam the Company and Its Subsidiary continue to
transfer di mana pengendalian atas aset masih recognize the asset to the extent of its continuing
dimiliki, Perusahaan dan Entitas Anaknya tetap involvement determined by the extent to which it is
mengakui aset yang ditransfer tersebut sebesar exposed to changes in the value of the transferred
keterlibatan berkelanjutan yang ditentukan oleh asset.
besarnya perubahan nilai aset yang ditransfer.
Perusahaan dan Entitas Anaknya menghapus bukukan The Company and Its Subsidiary write off a financing
saldo piutang pembiayaan, pada saat Perusahaan dan receivables, when the Company and Its Subsidiary
Entitas Anaknya menentukan bahwa aset tersebut determine that the asset is uncollectible. This
tidak dapat ditagih lagi. Keputusan ini diambil decision was taken after consideration of
setelah mempertimbangkan informasi seperti telah information such as the occurrence of significant
terjadinya perubahan signifikan pada kemampuan changes to the financial ability of consumers so that
keuangan konsumen sehingga konsumen tidak lagi consumers can no longer pay the loan, or consumer
dapat melunasi liabilitasnya, atau konsumen atau or units being financed cannot be found or is
unit yang dibiayai tidak dapat ditemukan atau controlled by third party or the net realizable value
dikuasai oleh pihak ketiga atau nilai realisasi neto of collateral is not expected to be sufficient to pay
atas jaminan yang dikuasai kembali diperkirakan the entire exposure for the financing receivables.
tidak akan cukup untuk melunasi seluruh ekposur
piutang pembiayaan.
Penerimaan atau pemulihan kembali aset keuangan Collection or recovery of financial assets which had
yang telah dihapusbukukan dicatat sebagai been written-off is recorded as other income.
pendapatan lain-lain.
e.4. Saling hapus e.4. Offsetting
Aset dan liabilitas keuangan dapat saling hapus dan Financial assets and liabilities are offset and the net
nilai netonya disajikan dalam laporan posisi keuangan amount is presented in the statement of financial
jika, dan hanya jika, Perusahaan dan Entitas Anaknya position when and only when, the Company and Its
memiliki hak yang berkekuatan hukum untuk Subsidiary have legally enforceable rights to offset
melakukan saling hapus atas jumlah yang telah diakui the recognized amounts and intends either to settle
tersebut dan berniat untuk menyelesaikan secara on a net basis or to realize the asset and settle the
neto atau untuk merealisasikan aset dan liability simultaneously.
menyelesaikan liabilitasnya secara bersamaan.
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 277
Page 278
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/18 Exhibit E/18
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL (Lanjutan) 2. MATERIAL ACCOUNTING POLICY INFORMATION (Continued)
e. Aset dan Liabilitas Keuangan (Lanjutan) e. Financial Assets and Liabilities (Continued)
e.4. Saling hapus (Lanjutan) e.4. Offsetting (Continued)
Pendapatan dan beban disajikan dalam jumlah neto Income and expenses are presented on a net basis
hanya jika diperkenankan oleh standar akuntansi. only when permitted by accounting standards.
e.5. Pengukuran biaya perolehan diamortisasi e.5. Amortized cost measurement
Biaya perolehan diamortisasi dari aset atau liabilitas The amortized cost of a financial asset or liability is
keuangan adalah jumlah aset atau liabilitas keuangan the amount at which the financial asset or liability
yang diukur pada saat pengakuan awal, dikurangi is measured at initial recognition, minus principal
pembayaran pokok, ditambah atau dikurangi dengan repayments, plus or minus the cumulative
amortisasi kumulatif dengan menggunakan metode amortization using the effective interest method of
suku bunga efektif yang dihitung dari selisih antara any difference between the initial amount
nilai awal dan nilai jatuh temponya, dikurangi recognized and the maturity amount, minus any
penyisihan kerugian penurunan nilai. reduction for impairment.
e.6. Identifikasi dan pengukuran penurunan nilai aset e.6. Identification and measurement of impairment
keuangan for financial assets
Penurunan nilai diukur berdasarkan PSAK 109 Impairment of financial assets measured by
mensyaratkan pengakuan segera atas dampak SFAS 109 required immediate recognition of
perubahan kerugian kredit ekspektasian setelah expected credit losses at the initial recognition of
pengakuan awal aset keuangan yang tidak diukur financial assets that are not carried at fair value
pada nilai wajar berdasarkan kerugian kredit measured by expected credit loss. At the initial
ekspektasian. Pada saat pengakuan awal, Perusahaan recognition, the Company and Its Subsidiary
dan Entitas Anaknya mengukur penyisihan kerugian measured allowance of impairment of financial
untuk aset keuangan tersebut sejumlah kerugian assets using 12-months expected credit losses
kredit ekspektasian 12 bulan (Tahap 1). (Stage 1).
Pada setiap tanggal pelaporan, Perusahaan dan The Company and Its Subsidiary at each reporting
Entitas Anaknya mengukur penyisihan kerugian aset date, measured allowance of impairment losses of
keuangan sejumlah kerugian kredit ekspektasian financial assets using lifetime expected credit
sepanjang umurnya, jika risiko kredit atas aset losses if there’s significant increase in credit risk
keuangan tersebut telah meningkat secara signifikan (Stage 2) or become credit impaired (Stage 3).
sejak pengakuan awal (Tahap 2) atau menjadi Otherwise, the Company and Its Subsidiary continue
memburuk (Tahap 3). Jika tidak, Perusahaan dan to measure allowance of impairment losses of
Entitas Anaknya tetap mengukur penyisihan kerugian financial assets using 12-months expected credit
untuk aset keuangan tersebut sejumlah kerugian losses (Stage 1).
kredit ekspektasian 12 bulan (Tahap 1).
Peningkatan risiko kredit yang signifikan dievaluasi Significant increase in credit risk is assessed by
dengan membandingkan risiko wanprestasi suatu aset comparing the risk of default of financial assets at
keuangan pada saat tanggal pelaporan terhadap the reporting date to the origination date. Whether
tanggal pengakuan awal. Penentuan adanya a change in the risk of default is significant or not
peningkatan risiko kredit yang signifikan atau tidak is assessed using several criteria, primarily based on
dievaluasi menggunakan beberapa kriteria, 30 days past due. Financial assets determined as
utamanya jika telah mengalami keterlambatan credit impaired primarily after 90 days past due
pembayaran 30 hari. Aset keuangan dianggap criteria.
menjadi memburuk, utamanya jika telah mengalami
keterlambatan pembayaran 90 hari.
Kerugian kredit ekspektasian diukur dalam suatu Expected credit losses measured in a way that
cara yang mencerminkan: reflects:
• Jumlah yang tidak biasa dan rata-rata • An unbiased and probability-weighted amount
probabilitas tertimbang yang ditentukan dengan that is determined by evaluating a range of
mengevaluasi serangkaian kemungkinan yang possible outcomes;
dapat terjadi;
• Nilai waktu uang; dan • The time value of money; and
• Informasi yang wajar dan terdukung yang • Reasonable and supportable information that is
tersedia tanpa biaya atau upaya berlebihan available without undue cost or effort at the
pada tanggal pelaporan mengenai peristiwa reporting date about past events, current
masa lalu, kondisi kini dan perkiraan kondisi conditions and forecasts of future economic
ekonomi masa depan. conditions.
278 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 279
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/19 Exhibit E/19
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL (Lanjutan) 2. MATERIAL ACCOUNTING POLICY INFORMATION (Continued)
e. Aset dan Liabilitas Keuangan (Lanjutan) e. Financial Assets and Liabilities (Continued)
e.6. Identifikasi dan pengukuran penurunan nilai aset e.6. Identification and measurement of impairment for
keuangan (Lanjutan) financial assets (Continued)
Penilaian secara individual dilakukan atas aset Individual assessment is performed on the
keuangan yang nilainya signifikan. Aset keuangan significant financial assets. The financial assets that
yang tidak signifikan dan memiliki karakteristik are not individually significant and have similar
risiko kredit yang sejenis dinilai secara kolektif. credit characteristic are assessed collectively.
Dalam mengevaluasi penurunan nilai secara In assessing collective impairment, the Company and
kolektif, Perusahaan dan Entitas Anaknya its subsidiary use statistical modeling of historical
menggunakan model statistik dari tren historis atas trends of the probability of default, timing of
probabilitas wanprestasi, waktu pemulihan kembali recoveries and the amount of loss incurred as well
dan jumlah kerugian yang terjadi serta perkiraan as forecasts of future economic conditions adjusted
kondisi ekonomi masa depan yang disesuaikan for management’s judgement as to whether current
dengan pertimbangan manajemen mengenai apakah economic and credit conditions are such that the
kondisi ekonomi dan kredit terkini sedemikian rupa actual losses are likely to be greater or less than
sehingga dapat mengakibatkan kerugian aktual yang suggested by historical modeling. Default rates, loss
jumlahnya akan lebih besar atau lebih kecil rates and the expected timing of future recoveries
daripada jumlah yang ditentukan oleh model are reqularly benchmarked against actual outcomes
historis. Tingkat wanprestasi, tingkat kerugian dan to ensure that they remain appropriate.
waktu yang diharapkan untuk pemulihan di masa
datang akan diperbandingkan secara berkala
terhadap hasil aktual untuk memastikan estimasi
tersebut masih tepat.
Ketika peristiwa yang terjadi setelah penurunan When a subsequent event causes the amount of
nilai menyebabkan jumlah kerugian penurunan nilai impairment loss to decrease, the previously
berkurang, kerugian penurunan nilai yang recognized impairment loss is reversed by adjusting
sebelumnya diakui harus dipulihkan, dengan the allowance for impairment losses. The amount of
menyesuaikan akun cadangan. Jumlah pemulihan the reversal is recognized in the current year profit
aset keuangan diakui pada laba rugi tahun berjalan. or loss.
e.7. Pengukuran nilai wajar e.7. Fair value measurement
Nilai wajar adalah harga yang akan diterima untuk Fair value is the price that would be received to sell
menjual suatu aset atau harga yang akan dibayar an asset or paid to transfer a liability in an orderly
untuk mengalihkan suatu liabilitas dalam transaksi transaction between market participants at the
teratur (orderly transaction) antara pelaku pasar measurement date in the principal market or, in its
(market participants) pada tanggal pengukuran di absence, the most advantageous market to which
pasar utama atau, jika tidak terdapat pasar utama, the Company and Its Subsidiary have access at that
di pasar yang paling menguntungkan dimana date. The fair value of a liability reflects its non-
Perusahaan dan Entitas Anaknya memiliki akses performance risk.
pada tanggal tersebut. Nilai wajar liabilitas
mencerminkan risiko wanprestasinya.
Jika tersedia, Perusahaan dan Entitas Anaknya When available, the Company and Its Subsidiary
mengukur nilai wajar instrumen keuangan dengan measure the fair value of an instrument using
menggunakan harga kuotasi di pasar aktif untuk quoted prices in an active market for that
instrumen tersebut. Suatu pasar dianggap aktif jika instrument. A market is regarded as active if quoted
harga kuotasi sewaktu-waktu dan secara berkala prices are readily and regularly occurring market
tersedia dan mencerminkan transaksi pasar yang transactions on an arm’s length basis.
aktual dan rutin dalam suatu transaksi yang wajar.
Jika pasar untuk suatu instrumen keuangan tidak If a market for a financial instrument is not active,
aktif, Perusahaan dan Entitas Anaknya menentukan the Company and Its Subsidiary establish fair value
nilai wajar dengan menggunakan teknik penilaian. using a valuation technique. Valuation techniques
Teknik penilaian mencakup penggunaan transaksi include using recent arm’s length transactions
pasar terkini yang dilakukan secara wajar oleh between knowledgeable and willing parties, and if
pihak-pihak yang memahami, berkeinginan, dan jika available, reference to the current fair value of
tersedia, referensi atas nilai wajar terkini dari other instruments that are substantially the same,
instrumen lain yang secara substansial sama, discounted cash flows analysis and option pricing
penggunaan analisa arus kas yang didiskonto dan models.
penggunaan model penetapan harga opsi (option
pricing model).
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 279
Page 280
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/20 Exhibit E/20
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL (Lanjutan) 2. MATERIAL ACCOUNTING POLICY INFORMATION (Continued)
e. Aset dan Liabilitas Keuangan (Lanjutan) e. Financial Assets and Liabilities (Continued)
e.7. Pengukuran nilai wajar (Lanjutan) e.7. Fair value measurement (Continued)
Teknik penilaian yang dipilih memaksimalkan The chosen valuation technique makes maximum
penggunaan input pasar, dan meminimalkan use of market inputs, relies as little as possible on
penggunaan taksiran yang bersifat spesifik dari estimates specific to the Company and Its
Perusahaan dan Entitas Anaknya, memasukkan Subsidiary, incorporate all factors that market
semua faktor yang akan dipertimbangkan oleh para participants would consider in setting a price,
pelaku pasar dalam menetapkan suatu harga dan and is consistent with accepted economic
konsisten dengan metodologi ekonomi yang diterima methodologies for pricing financial instruments.
dalam penetapan harga instrumen keuangan. Input Inputs to valuation techniques reasonably represent
yang digunakan dalam teknik penilaian secara market expectations and measures of the risk-
memadai mencerminkan ekspektasi pasar dan return factors inherent in the financial instrument.
ukuran atas faktor risiko dan pengembalian (risk- The Company and Its Subsidiary calibrate valuation
return) yang melekat pada instrumen keuangan. techniques and tests them for validity using prices
Perusahaan dan Entitas Anaknya mengkalibrasi from observable current market transactions in the
teknik penilaian dan menguji validitasnya dengan same instrument or based on other available
menggunakan harga-harga dari transaksi pasar observable market data.
terkini yang dapat diobservasi untuk instrumen yang
sama atau atas dasar data pasar lainnya yang
tersedia yang dapat diobservasi.
Bukti terbaik atas nilai wajar instrumen keuangan The best evidence of the fair value of a financial
pada saat pengakuan awal adalah harga transaksi, instrument at initial recognition is the transaction
yaitu nilai wajar dari pembayaran yang diberikan price, i.e., the fair value of the consideration
atau diterima, kecuali jika nilai wajar dari given or received, unless the fair value of that
instrumen keuangan tersebut ditentukan dengan instrument is evidenced by comparison with the
perbandingan dengan transaksi pasar terkini yang other observable current market transactions in
dapat diobservasi dari suatu instrumen yang sama the same instrument (i.e., without modification
(yaitu tanpa modifikasi atau pengemasan ulang), or repackaging), or based on a valuation technique
atau berdasarkan suatu teknik penilaian yang whose variables include only data from observable
variabelnya hanya menggunakan data dari pasar markets. When transaction price provides the best
yang dapat diobservasi. Jika harga transaksi evidence of fair value at initial recognition, the
memberikan bukti terbaik atas nilai wajar pada saat financial instrument is initially measured at the
pengakuan awal, maka instrumen keuangan pada transaction price and any difference between this
awalnya diukur pada harga transaksi dan selisih price and the value initially obtained from a
antara harga transaksi dan nilai yang sebelumnya valuation model is subsequently recognized in
diperoleh dari model penilaian diakui dalam laporan the statement of profit or loss depending on the
laba rugi setelah pengakuan awal tergantung pada individual facts and circumstances of the
masing-masing fakta dan keadaan dari transaksi transaction but not later than when the valuation is
tersebut namun tidak lebih lambat dari saat supported wholly by observable market data or the
penilaian tersebut didukung sepenuhnya oleh data transaction is closed out.
pasar yang dapat diobservasi atau saat transaksi
ditutup.
Nilai wajar mencerminkan risiko kredit atas Fair values reflect the credit risk of the financial
instrumen keuangan dan termasuk penyesuaian yang instruments and include adjustments to take into
dilakukan untuk memasukkan risiko kredit account the credit risk of the Company and
Perusahaan dan pihak lawan, mana yang lebih counterparty where appropriate. Fair value
sesuai. Taksiran nilai wajar yang diperoleh dari estimates obtained from models are adjusted for
model penilaian akan disesuaikan untuk any other factors, such as liquidity risk or valuation
mempertimbangkan faktor-faktor lainnya, seperti model uncertainties, to the extent that the
risiko likuiditas atau ketidakpastian model Company believes a third-party market
penilaian, sepanjang Perusahaan yakin bahwa participation would take them into account in
keterlibatan suatu pasar pihak ketiga akan pricing a transaction.
mempertimbangkan faktor-faktor tersebut dalam
penetapan harga suatu transaksi.
280 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 281
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/21 Exhibit E/21
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL (Lanjutan) 2. MATERIAL ACCOUNTING POLICY INFORMATION (Continued)
f. Kas dan Setara Kas f. Cash and Cash Equivalents
Kas dan setara kas terdiri dari kas, kas di bank dan Cash and cash equivalents consist of cash on hand, cash
deposito berjangka yang akan jatuh tempo dalam waktu in banks and time deposits with a maturity period of
tiga bulan atau kurang sejak tanggal penempatan, three months or less since the date of placement, as long
sepanjang deposito berjangka tersebut tidak digunakan as these time deposits are not pledged as collaterals for
sebagai jaminan atas pinjaman yang diterima, serta tidak borrowings nor restricted. Cash and cash equivalents are
dibatasi penggunaannya. Kas dan setara kas classified as amortized costs (Note 2e).
diklasifikasikan sebagai biaya perolehan diamortisasi
(Catatan 2e).
g. Piutang Pembiayaan g. Financing Receivables
Perusahaan dan Entitas Anaknya mengakui aset berupa The Company and Its Subsidiary recognizes assets as
piutang pembiayaan sebesar jumlah yang sama dengan financing receivables and present them at an amount
piutang neto. Penerimaan piutang diperlakukan sebagai equal to the net financing receivables. Receivables
pembayaran pokok dan pendapatan pembiayaan. payment is treated as repayment of principal and
Pengakuan pendapatan pembiayaan didasarkan pada financing income. The recognition of financing income is
suatu pola yang mencerminkan suatu tingkat based on a pattern reflecting a constant periodic rate of
pengembalian periodik yang konstan atas investasi return on the Company’s financing receivables.
Perusahaan.
Penyelesaian kontrak sebelum masa pembiayaan berakhir Early termination of a contract is treated as
diperlakukan sebagai pembatalan kontrak pembiayaan a cancellation of an existing contract and the resulting
dan pendapatan yang timbul terkait penyelesaian kontrak income related to this early termination of a contract is
ini diakui dalam laba rugi tahun berjalan. recognized in the current year profit or loss.
Restrukturisasi pembiayaan konsumen berupa modifikasi Restructuring of customer financing is a modification of
persyaratan kredit. Pembiayaan yang direstrukturiasi the terms of the loans. Restructured financing are stated
disajikan sebesar nilai kini atas arus kas kontraktual at present value of discounted contractual cash flows
setelah restrukturisasi yang didiskontokan menggunakan after restructuring using initial effective interest rate.
suku bunga efektif awal. Selisih antara jumlah tercatat Differences arising from the gross carrying value of the
bruto piutang pembiayaan konsumen pada tanggal consumer financing receivables at the time of
restrukturisasi dengan nilai kini arus kas kontraktual restructuring with present value of contractual cash
setelah restrukturisasi diakui dalam laba rugi. flows after restructuring are recognized to profit or loss.
Setelah restrukturisasi, seluruh arus kas kontraktual Thereafter, all the contractual cash flows under the new
dalam persyaratan baru dicatat sebagai pengembalian terms shall be accounted for as the repayment of
pokok pembiayaan yang diberikan dan pendapatan bunga principal and interest income, in accordance with the
sesuai dengan syarat-syarat restrukturisasi. restructuring scheme.
Piutang pembiayaan akan dihapusbukukan setelah Financing receivables will be written-off when they are
menunggak lebih dari 180 hari (untuk piutang pembiayaan overdue for more than 180 days (for motorcycles
sepeda motor), lebih dari 210 hari (untuk piutang financing), more than 210 days (for cars financing) and
pembiayaan mobil) dan lebih dari 270 hari (untuk more than 270 days (for heavy equipment and property
pembiayaan alat berat dan properti). Penerimaan dari financing). Recoveries from written-off receivables are
piutang yang telah dihapusbukukan diakui sebagai recognized as other income upon receipt.
pendapatan lain-lain pada saat diterima.
g.1. Sewa Pembiayaan g.1. Finance Lease
Penentuan apakah suatu perjanjian merupakan The determination of whether an arrangement is, or
perjanjian sewa atau perjanjian yang mengandung contains a lease is based on the substance of the
sewa didasarkan atas substansi perjanjian pada arrangement at inception date and whether the
tanggal awal sewa dan apakah pemenuhan perjanjian fulfillment of the arrangement is dependent on the
tergantung pada penggunaan suatu aset dan use of a specific asset and the arrangement conveys
perjanjian tersebut memberikan suatu hak untuk a right to use the asset.
menggunakan aset tersebut.
Suatu sewa diklasifikasikan sebagai sewa pembiayaan Leases are classified as finance lease if the leases
jika sewa tersebut mengalihkan secara substansial transfer substantially all the risks and rewards
seluruh risiko dan manfaat yang terkait dengan related to ownership of the leased assets. Leases are
kepemilikan aset. Suatu sewa diklasifikasikan sebagai classified as operating leases if the leases do not
sewa operasi jika sewa tidak mengalihkan secara transfer substantially all the risks and rewards
substansial seluruh risiko dan manfaat yang terkait incidental to ownership of the leased assets.
dengan kepemilikan aset.
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 281
Page 282
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/22 Exhibit E/22
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL (Lanjutan) 2. MATERIAL ACCOUNTING POLICY INFORMATION (Continued)
g. Piutang Pembiayaan (Lanjutan) g. Financing Receivables (Continued)
g.1. Sewa Pembiayaan (Lanjutan) g.1. Finance Lease (Continued)
Transaksi sewa pembiayaan yang dilakukan Leases transactions conducted by the Company are
Perusahaan diklasifikasikan sebagai sewa classified as finance lease.
pembiayaan.
Pada saat pengakuan awal, nilai wajar piutang sewa At initial recognition, the fair value of finance lease
pembiayaan merupakan jumlah piutang sewa receivables represents finance lease receivables
pembiayaan ditambah nilai sisa yang akan diterima plus the residual value at the end of the lease period
oleh perusahaan sewa pada akhir masa sewa deducted by unearned lease income and security
pembiayaan dikurangi dengan pendapatan sewa deposits. The difference between the gross lease
pembiayaan yang ditangguhkan dan simpanan receivables and the present value of the lease
jaminan. Selisih antara nilai piutang bruto dan nilai receivables is recognised as unearned lease income.
kini piutang diakui sebagai pendapatan sewa Unearned lease income is then recognized as income
pembiayaan yang belum diakui. Pendapatan sewa over the term of the contract using the effective
pembiayaan yang belum diakui tersebut kemudian interest rate. Finance lease receivables are
diakui sebagai pendapatan sesuai dengan jangka classified as loans and receivables (Note 2d).
waktu kontrak dengan menggunakan metode tingkat
suku bunga efektif. Piutang sewa pembiayaan
diklasifikasikan sebagai pinjaman yang diberikan dan
piutang (Catatan 2d).
g.2. Pembiayaan Konsumen g.2. Consumer Financing
Piutang pembiayaan konsumen merupakan jumlah Consumer financing receivables are receivables plus
piutang setelah ditambah (dikurangi) biaya (minus) unamortized transaction cost (income) and
(pendapatan) transaksi yang belum di amortisasi dan minus unearned consumer financing income and
dikurangi dengan pendapatan pembiayaan konsumen allowance for impairment losses of consumer
yang belum diakui dan cadangan kerugian penurunan financing receivables.
nilai piutang pembiayaan konsumen.
Pendapatan pembiayaan konsumen yang belum Unearned consumer financing income, which
diakui, yang merupakan selisih antara jumlah represents the difference between total
keseluruhan pembayaran angsuran yang akan installments to be received from the consumer and
diterima dari konsumen dan jumlah pokok the principal amount financed, plus or (deducted)
pembiayaan, ditambah (dikurangi) biaya with the unamortized transaction cost (income),
(pendapatan) transaksi yang belum diamortisasi, akan will be recognized as income over the term of the
diakui sebagai pendapatan selama jangka waktu contract using effective interest method of the
kontrak dengan menggunakan metode suku bunga related consumer financing receivable. Consumer
efektif dari piutang pembiayaan konsumen. Piutang financing receivables are classified as amortized
pembiayaan konsumen diklasifikasikan sebagai biaya costs (Note 2e).
perolehan diamortisasi (Catatan 2e).
Biaya (pendapatan) transaksi yang belum Unamortized transaction cost (income) are
diamortisasi adalah pendapatan administrasi proses financing administration income and transaction
pembiayaan dan biaya transaksi yang timbul pertama costs which are incurred at the first time the
kali yang terkait langsung dengan pembiayaan financing agreement is signed and directly
konsumen tersebut. attributable to consumer financing.
282 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 283
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/23 Exhibit E/23
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL (Lanjutan) 2. MATERIAL ACCOUNTING POLICY INFORMATION (Continued)
h. Pembiayaan Bersama h. Joint Financing
Seluruh kontrak pembiayaan bersama yang dilakukan oleh All joint financing agreements entered by the Company
Perusahaan merupakan pembiayaan bersama konsumen are joint financing without recourse in which only the
tanpa tanggung renteng (without recourse) dimana hanya Company’s financing portion of the total installments
porsi jumlah angsuran piutang yang dibiayai Perusahaan are recorded as financing receivables in the statement
yang dicatat sebagai piutang pembiayaan di laporan posisi of financial position (net approach). Financing income is
keuangan (pendekatan neto). Pendapatan pembiayaan presented in the statement of profit or loss and other
disajikan pada laporan laba rugi dan penghasilan comprehensive income after deducting the portions
komprehensif lain setelah dikurangi dengan bagian yang belong to other parties participated to these joint
merupakan hak pihak-pihak lain yang berpartisipasi pada financing transactions.
transaksi pembiayaan bersama tersebut.
Dalam pembiayaan bersama without recourse, antara In joint financing without recourse, arrangements
Perusahaan dan penyedia fasilitas pembiayaan bersama, between the Company and the joint financing facility
Perusahaan berhak menentukan tingkat bunga yang lebih provider, the Company has the right to set higher
tinggi kepada konsumen dibandingkan tingkat bunga yang interest rates to consumer than the interest rates stated
ditetapkan dalam perjanjian pembiayaan bersama dengan in the joint financing agreement with the joint financing
penyedia fasilitas pembiayaan bersama. Selisihnya facility provider. The difference is recognized as
merupakan pendapatan dan disajikan sebagai bagian dari revenue and disclosed as “Financing Income”.
“Pendapatan Pembiayaan”.
i. Piutang Pembiayaan Murabahah i. Murabahah Financing Receivables
Murabahah merupakan akad jual-beli barang dengan harga Murabahah is goods sell-buy contract with a sold price
jual sebesar biaya perolehan ditambah keuntungan yang amounting to acquisition cost plus agreed margin and
disepakati dan Perusahaan harus mengungkapkan biaya the Company must to disclose the acquisition cost to
perolehan barang tersebut kepada konsumen. Pada saat customer. When murabahah contract is signed,
akad murabahah, piutang pembiayaan murabahah diakui murabahah financing receivables are recognized at
dengan metode pendapatan efektif. Keuntungan effective income method. Murabahah margin are
murabahah diakui selama periode akad berdasarkan recognized over the period of the contract based on
pengakuan marjin dari piutang pembiayaan murabahah. margin of the murabahah financing receivables.
Akad murabahah secara substansi merupakan suatu Substantially, murabahah contract is a financing, so that
pembiayaan, sehingga pengakuan marjin dilakukan margin recognition is based on standards which regulate
berdasarkan standar yang mengatur pembiayaan, seperti financing, as mentioned in consumer financing policy.
yang disebutkan di kebijakan pembiayaan konsumen.
Pada setiap akhir periode laporan keuangan, piutang At the end of each period of financial statement,
pembiayaan murabahah disajikan sebesar nilai neto yang murabahah financing receivables are state at net
dapat direalisasi, yaitu saldo piutang murabahah dikurangi realizable value, consist of outstanding murabahah
marjin yang ditangguhkan dan cadangan kerugian receivables less unearned margin and allowance for
penurunan nilai. impairment loss.
j. Piutang Ijarah dan IMBT j. Ijarah and IMBT Receivables
Piutang ijarah (porsi pokok sewa) merupakan akrual Ijarah receivables (principal portion) are based on
piutang sewa atas porsi pokok yang belum direalisasikan unrealized accrual rent income from principal portion
oleh nasabah dan piutang pendapatan ijarah merupakan and ijarah receivable represents portion of accrual rent
akrual piutang sewa atas bagian keuntungan (ujroh) income from the following month’s installment of ijarah
transaksi ijarah muntahiyah bittamlik (IMBT) dari angsuran muntahiyah bittamlik (IMBT) which is recognized
nasabah pada bulan berikutnya yang diakui secara proportionally.
proporsional.
Akad ijarah adalah akad penyediaan dana dalam rangka Akad ijarah is a contract for the provision of funds in
memindahkan hak guna atau manfaat dari suatu barang the context of transferring the use rights or benefits of
atau jasa berdasarkan transaksi sewa, tanpa diikuti a good or service based on a lease transaction, without
dengan pemindahan kepemilikan barang tersebut kepada being followed by the transfer of ownership of such
penyewa. Aset ijarah muntahiyah bittamik merupakan goods to the lessee. Asset ijarah muntahiyah bittamlik
akad transaksi sewa dengan opsi perpindahan hak milik (IMBT) is a contract based on a lease transaction with
objek sewa melalui jual beli atau pemberian (hibah) pada option of transfer of ownership of lease object through
saat tertentu sesuai akad sewa. sale purchase or granted at specific time based on
contract.
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 283
Page 284
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/24 Exhibit E/24
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL (Lanjutan) 2. MATERIAL ACCOUNTING POLICY INFORMATION (Continued)
j. Piutang Ijarah dan IMBT (Lanjutan) j. Ijarah and IMBT Receivables (Continued)
Piutang pendapatan ijarah diakui pada saat jatuh tempo Ijarah revenue receivables are recognized at maturity
sebesar sewa porsi ujroh dan piutang ijarah sebesar sewa amounting to the rent of ujroh and ijarah receivables
porsi pokok yang belum diterima dan disajikan sebesar amounting to the portion of the principal outstanding
nilai neto yang dapat direalisasikan, yaitu sebesar saldo which has not been received and presented at net
piutang dikurangi penurunan nilai, jika ada pada akhir realizable value, which is the outstanding amount of the
periode pelaporan. receivables less impairment loss, if any, at the end of
reporting period.
k. Piutang dalam Proses Penyelesaian k. Receivables in the Settlement Process
Piutang dalam proses penyelesaian merupakan piutang Receivables in the settlement process represent
atas jaminan yang dikuasai kembali dan dinyatakan receivables from collateral recovered and stated at net
berdasarkan nilai realisasi neto yaitu nilai tercatat atau realizable value which is carrying amount or principal
pokok piutang pembiayaan terkait dikurangi penyisihan amount of related financing receivables, less allowance
penurunan nilai pasar atas jaminan yang dikuasai kembali. for decline in market value of the collateral retained.
Piutang pembiayaan direklasifikasikan menjadi piutang Financing receivables are reclassified to receivables in
dalam proses penyelesaian ketika jaminan ditarik karena the settlement process when the collateral is withdrawn
konsumen tidak dapat memenuhi kewajibannya setelah because the consumer is not able to meet its obligations
melalui proses tahapan yang ditetapkan dalam perjanjian after going through the stages stipulated in the
pembiayaan dengan konsumen. financing agreement with the consumer.
Pelanggan memberi kuasa kepada Perusahaan untuk Customer authorizes the Company to sell the pledged
menjual objek yang dijaminkan atau melakukan tindakan object or performing other actions in solving the debts
lainnya dalam upaya penyelesaian piutang bila terjadi in the event of default of the financing agreement.
wanprestasi terhadap perjanjian pembiayaan. Kelebihan Excess result of a settlement with the total obligations
hasil penyelesaian dengan jumlah seluruh kewajiban of the consumer is the right of the customer, while the
konsumen merupakan hak dari konsumen, sedangkan shortage of the settlement proceeds will be charged to
kekurangan hasil penyelesaian akan dibebankan sebagai written-off other receivables in the statement of profit
penghapusan piutang lain-lain pada laporan laba rugi dan or loss and other comprehensive income.
penghasilan komprehensif lain.
Piutang dalam proses penyelesaian diklasifikasikan Receivables in the settlement process are classified as
sebagai aset keuangan dalam kelompok biaya perolehan financial assets classified as amortized costs.
diamortisasi.
l. Instrumen Derivatif untuk Tujuan Manajemen Risiko l. Derivative Instrument for Risk Management Purposes
Seluruh instrumen derivatif yang dimiliki Perusahaan All derivative instruments held by the Company are for
digunakan untuk tujuan manajemen risiko. Instrumen risk management purposes. These derivative
derivatif ini digunakan untuk lindung nilai eksposur risiko instruments are used to hedge the Company’s exposures
suku bunga dan risiko mata uang Perusahaan. Instrumen to interest rate risk and currency risk. Derivative
derivatif untuk tujuan manajemen risiko diukur pada nilai instruments held for risk management are measured at
wajar dalam laporan posisi keuangan. Untuk memenuhi fair value in the statement of financial position. To
persyaratan akuntansi lindung nilai, beberapa kriteria qualify for hedge accounting, certain criteria are to be
tertentu harus dipenuhi, termasuk adanya dokumentasi met, including formal documentation to be in place at
formal pada awal lindung nilai. the inception of the hedge.
Pada penetapan awal lindung nilai, Perusahaan On initial designation of the hedge, the Company
mendokumentasikan secara formal hubungan antara formally documents the relationship between the
instrumen lindung nilai dan unsur yang dilindung nilai, hedging instruments and hedge items, including the risk
termasuk tujuan manajemen risiko dan strategi management objective and strategy in undertaking the
dalam melaksanakan transaksi lindung nilai, bersamaan hedge transaction, together with the method that will
dengan metode yang akan digunakan untuk menilai be used to assess the effectiveness of the hedging
efektivitas hubungan lindung nilai. Perusahaan menilai, relationship. The Company makes an assessment, both
pada awal hubungan lindung nilai dan juga secara at the inception of the hedge relationship as well as on
berkesinambungan, apakah instrumen lindung nilai an ongoing basis, whether the hedging instruments are
diharapkan akan “sangat efektif” dalam rangka saling expected to be “highly effective” in offsetting the
hapus atas perubahan nilai wajar atau perubahan arus kas changes in the fair value or cash flows of the respective
dari unsur yang dilindung nilai sepanjang periode dimana hedged item during the period for which the hedge is
lindung nilai tersebut ditetapkan. designated.
284 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 285
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/25 Exhibit E/25
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL (Lanjutan) 2. MATERIAL ACCOUNTING POLICY INFORMATION (Continued)
l. Instrumen Derivatif untuk Tujuan Manajemen Risiko l. Derivative Instrument for Risk Management Purposes
(Lanjutan) (Continued)
Perubahan nilai wajar instrumen derivatif yang tidak Changes in fair value of derivative instruments that do
memenuhi kriteria lindung nilai dicatat dalam laporan not qualify for hedge accounting are recognized in the
laba rugi tahun yang bersangkutan. Jika instrumen current year statement of profit or loss. If derivative
derivatif dirancang dan memenuhi syarat akuntansi instruments are designated and qualify for hedge
lindung nilai, perubahan nilai wajar yang berkaitan accounting, changes in fair value of derivative
dengan lindung nilai diakui sebagai penyesuaian terhadap instruments are recorded as adjustments to the items
unsur yang dilindungi nilainya dalam penghasilan being hedged in the current year other comprehensive
komprehensif lainnya tahun berjalan atau disajikan income or in the equity, depending on the type of hedge
dalam ekuitas, tergantung pada jenis transaksi dan transaction represented and the effectiveness of the
efektivitas dari lindung nilai tersebut. hedge.
Perusahaan dan Entitas Anaknya menetapkan derivatif The Company and Its Subsidiary designate derivatives as
sebagai instrumen lindung nilai atas arus kas apabila the hedging instruments of cash flows hedges where the
instrumen tersebut melindungi nilai variabilitas arus kas instrument hedges the variability in cash flows
yang dapat diatribusikan pada risiko tertentu yang terkait attributable to a particular risk associated with a
dengan aset atau liabilitas yang telah diakui atau recognized asset or liability, or a highly probable
prakiraan transaksi yang kemungkinan besar terjadi. forecast transaction that could affect profit or loss. The
Bagian efektif dari perubahan nilai wajar derivatif yang effective portion of changes in the fair value of
ditetapkan sebagai instrumen lindung nilai atas arus kas derivatives designated as hedging instruments of cash
dalam hubungan lindung nilai yang memenuhi kualifikasi flows hedges in qualifying hedging relationships is
ditangguhkan pada keuntungan/(kerugian) kumulatif atas deferred to the cumulative gains/(losses) on derivative
instrumen derivatif untuk lindung nilai arus kas, yang instruments for cash flows hedges, which forms part
merupakan bagian dari ekuitas. Bagian yang tidak efektif of equity. Any ineffective portion is recognized
diakui secara langsung pada laporan laba rugi. Jumlah immediately in the statement of profit or loss. Amounts
yang ditangguhkan dalam ekuitas direklasifikasi ke dalam deferred in equity are reclassified to the statement of
laporan laba rugi dalam tahun yang sama dimana arus kas income as a reclassification adjustment in the same
yang dilindung nilai mempengaruhi laba atau rugi, dan year as the hedged cash flows affect profit or loss, and
pada unsur yang sama dalam laporan laba rugi. in the same line item in the statement of profit or loss.
Ketika instrumen lindung nilai kadaluarsa atau dijual, When the hedging instrument expires or sold,
dihentikan, dilaksanakan, atau tidak lagi memenuhi terminated, exercised, or no longer qualifies for hedge
kriteria akuntansi lindung nilai, keuntungan atau accounting, the cumulative amount deferred in equity
kerugian kumulatif yang ditangguhkan di ekuitas tetap remains in the cumulative gains/(losses) on derivative
diakui pada keuntungan/(kerugian) kumulatif atas instruments for cash flows hedges, and is subsequently
instrumen derivatif untuk lindung nilai arus kas dan transferred to the statement of profit or loss when the
direklasifikasi ke laporan laba rugi ketika unsur yang hedged item is recognized in the statement of profit or
dilindung nilai diakui dalam laporan laba rugi. loss.
Ketika suatu prakiraan transaksi akan dilindung nilai tidak When a forecast hedged transaction is no longer
lagi diharapkan akan terjadi, jumlah yang ditangguhkan expected to occur, the amount deferred in equity is
dalam ekuitas diakui segera dalam laporan laba rugi. recognized immediately in the statement of profit or
loss.
m. Beban Dibayar di Muka m. Prepaid Expenses
Beban dibayar di muka diamortisasi dan dibebankan Prepaid expenses are amortized and charged as an
selama masa manfaat masing-masing beban dengan expense over the periods of benefit using the straight-
menggunakan metode garis lurus. line method.
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 285
Page 286
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/26 Exhibit E/26
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL (Lanjutan) 2. MATERIAL ACCOUNTING POLICY INFORMATION (Continued)
n. Aset Ijarah dan IMBT n. Ijarah and IMBT Asset
Aset yang diperoleh untuk ijarah merupakan aset yang Assets acquired for ijarah represent object of leased
menjadi objek transaksi sewa (ijarah) dan dicatat di assets (ijarah) and are recorded in the statements of
laporan posisi keuangan sebesar harga perolehan financial positions at the acquisition cost, net of
dikurangi akumulasi penyusutan. Aset dalam transaksi accumulated depreciation. Assets in ijarah transaction
ijarah disusutkan sesuai dengan jangka waktu sewa. are depreciated over the lease period.
Perpindahan kepemilikan suatu aset dalam akad IMBT, The transfer of ownership of an asset in an IMBT
dilakukan jika akad ijarah telah berakhir atau diakhiri contract is carried out if the ijarah contract has expired
dan aset ijarah telah diserahkan kepada penyewa dengan or has been terminated and the ijarah assets have been
membuat akad terpisah. transfer to the lessee by separate contract.
Pendapatan ijarah diakui selama masa akad Income from ijarah is recognised over the period of the
menggunakan metode flat (proporsional). contract with flat (proportional) method.
o. Aset Tetap o. Fixed Assets
Aset tetap pada awalnya dinyatakan sebesar harga Fixed assets are initially recognized at acquisition cost.
perolehan. Setelah pengukuran awal, aset tetap diukur After initial measurement, fixed assets are measured
dengan model biaya, dicatat pada harga perolehan using the cost model, carried at cost less
dikurangi akumulasi penyusutan dan akumulasi any accumulated depreciation and accumulated
penurunan nilai, jika ada. impairment losses, if any.
Harga perolehan mencakup harga pembelian dan semua Acquisition cost includes purchase price and any costs
beban yang terkait secara langsung untuk membawa aset directly attributable to bring the assets to the location
tersebut ke lokasi dan kondisi yang diperlukan untuk and condition necessary for it to be capable of operating
memungkinkan aset tersebut beroperasi sebagaimana in the manner intended by management.
ditentukan oleh manajemen.
Tanah dinyatakan sebesar harga perolehan dan tidak Land is stated at cost and not depreciated.
disusutkan.
Penyusutan aset tetap selain tanah dihitung dengan Depreciation of fixed assets other than land are
menggunakan metode garis lurus untuk mengalokasikan calculated on the straight-line method to allocate their
harga perolehan hingga mencapai nilai sisa sepanjang cost to their residual values over their estimated useful
estimasi masa manfaatnya sebagai berikut: life as follows:
Masa manfaat/
Useful life Tarif/
(Tahun/ Year) Rates
Bangunan dan prasarana 20 5% Building and improvements
Peralatan kantor 5 20 % Office equipment
Kendaraan 5 20 % Vehicles
Perabot dan perlengkapan kantor 5 20 % Furniture and fixtures
Beban perbaikan dan pemeliharaan dibebankan ke dalam Repairs and maintenance costs, are charged to the
laporan laba rugi periode dimana beban-beban tersebut statement of profit or loss during the period in which
terjadi. Pengeluaran yang memperpanjang masa manfaat they are incurred. Expenditures that extend the future
aset atau yang memberikan tambahan manfaat ekonomis life of assets or provide further economic benefits are
dikapitalisasi dan disusutkan. capitalized and depreciated.
Jumlah tercatat aset tetap dihentikan pengakuannya The carrying amount of fixed assets are derecognized
pada saat pelepasan atau ketika tidak terdapat lagi upon disposal or when there is no longer a future
manfaat ekonomi masa depan yang diekspektasikan dari economic benefit expected from its use or disposal.
penggunaan atau pelepasannya.
Apabila aset tetap dihentikan pengakuannya (tidak When fixed assets are derecognized (retired or disposed
digunakan lagi atau dijual), maka nilai tercatat dan of), their carrying values and the related accumulated
akumulasi penyusutannya dikeluarkan dari laporan posisi depreciation are removed from the statement of
keuangan, dan keuntungan atau kerugian yang terjadi financial position, and the resulting gains or losses are
diakui dalam laporan laba rugi. recognized in the statement of profit or loss.
286 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 287
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/27 Exhibit E/27
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL (Lanjutan) 2. MATERIAL ACCOUNTING POLICY INFORMATION (Continued)
o. Aset Tetap (Lanjutan) o. Fixed Assets (Continued)
Aset dalam pembangunan untuk pengembangan Asset under construction are stated at cost and
dinyatakan sebesar biaya perolehan dan disajikan sebagai presented as part of the fixed assets. The accumulated
bagian dari aset tetap. Akumulasi biaya perolehan akan cost will be reclassified to the appropriate fixed assets
dipindahkan ke masing-masing akun aset tetap yang account when the installation is substantially completed
bersangkutan pada saat aset tersebut selesai dikerjakan and the asset is ready for its intended use.
dan siap digunakan.
Apabila nilai tercatat aset tetap lebih besar dari nilai When the carrying amount of fixed assets is greater than
yang dapat dipulihkan, nilai tercatat aset tersebut its estimated recoverable amount, it is written down to
diturunkan menjadi sebesar nilai yang dapat dipulihkan its recoverable amount which is determined at the
kembali, yang ditentukan sebagai nilai tertinggi antara higher of net selling price or value in use.
harga jual neto dan nilai pakai.
Pada setiap akhir tahun, nilai residu, umur dan metode At the end of each year, residual values, useful life and
penyusutan dikaji ulang dan disesuaikan secara method of depreciation are reviewed and adjusted
prospektif jika diperlukan. prospectively, if necessary.
p. Sewa p. Leases
Pada tanggal permulaan suatu kontrak, Perusahaan dan At inception of a contract, the Company and Its
Entitas Anaknya menilai apakah suatu kontrak merupakan, Subsidiary asseses whether a contract is, or contains,
atau mengandung, sewa. Suatu kontrak merupakan, atau a lease. A contract is, or contains, a lease if the
mengandung, sewa jika kontrak tersebut memberikan hak contract conveys the right to control the use of an
untuk mengendalikan penggunaan suatu asset identified asset for a period of time in exchange for
identifikasian selama suatu jangka waktu untuk consideration.
dipertukarkan dengan imbalan.
Untuk menilai apakah suatu kontrak memberikan hak To assess whether a contract conveys the right to control
untuk mengendalikan suatu aset identifikasian, the use of an identified asset, the Company asseses
Perusahaan menilai apakah: whether:
- Perusahaan memiliki hak untuk memperoleh secara - The Company has the right to obtain substantially all
substansial seluruh manfaat ekonomi dari penggunaan of the economic benefits from use of the asset
aset selama periode penggunaan; dan throughout the period of use;and
- Perusahaan memiliki hak untuk mengarahkan - The Company has the right to direct the use of the
penggunaan aset identifikasian. Perusahaan memiliki identified assets. The Company has this right when it
hak ini ketika hak pengambilan keputusan yang paling has the decision-making rights that are most relevant
relevan untuk mengubah bagaimana dan untuk tujuan to changing how and for what purpose the asset is
apa aset tersebut digunakan. Dalam kondisi tertentu used. In certain circumstances where all the decisions
dimana semua keputusan tentang bagaimana dan untuk about how and for what purpose the asset is used are
tujuan apa aset digunakan telah ditentukan predetermined, the Company has the right to direct
sebelumnya, Perusahaan memiliki hak untuk the use of the asset if either:
mengarahkan penggunaan aset tersebut jika:
- Perusahaan memiliki hak untuk mengoperasikan - The Company has the right to operate the asset; or
aset; atau
- Perusahaan mendesain aset dengan cara - The Company designed the asset in a way that
menetapkan sebelumnya bagaimana dan untuk predetermines how and for what purpose the asset
tujuan apa aset akan digunakan selama periode will be used.
penggunaan.
Pada tanggal insepsi atau pada saat penilaian kembali At inception date or on reassessment of a contract that
suatu kontrak yang mengandung suatu komponen sewa, contains a lease component, the Company allocates
Perusahaan mengalokasikan imbalan dalam kontrak ke consideration in the contract to each lease component
masing-masing komponen sewa berdasarkan harga on the basis of their relative stand-alone prices and the
tersendiri relatif dari komponen sewa dan harga tersendiri aggregate stand-alone price of the non-lease
agregat dari komponen nonsewa. Namun, untuk sewa components. However, for the leases of improvements
penunjang dimana Perusahaan bertindak sebagai in which the Company is a lessee, the Company has
penyewa, Perusahaan memutuskan untuk tidak elected not to separate non-lease components and
memisahkan komponen nonsewa dan mencatat komponen account for the lease and non-lease components as
sewa dan nonsewa tersebut sebagai satu komponen sewa. a single lease component.
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 287
Page 288
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/28 Exhibit E/28
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL (Lanjutan) 2. MATERIAL ACCOUNTING POLICY INFORMATION (Continued)
p. Sewa (Lanjutan) p. Leases (Continued)
Perusahaan dan Entitas Anaknya mengakui aset hak-guna The Company and Its Subsidiary recognize a right-of-use
dan liabilitas sewa pada tanggal dimulainya sewa. Aset asset and a lease liability at the lease commencement
hak-guna awalnya diukur pada biaya perolehan, yang date. The right-of-use asset is initially measured at
terdiri dari jumlah pengukuran awal dari liabilitas sewa cost, which comprises the initial amount of the lease
disesuaikan dengan pembayaran sewa yang dilakukan liability adjusted for any lease payments made at or
pada atau sebelum tanggal permulaan, ditambah dengan before the commencement date, plus any initial direct
biaya langsung awal yang dikeluarkan, dan estimasi biaya costs incurred and an estimate of costs to dismantle and
untuk membongkar dan memindahkan aset pendasar atau remove the underlying asset or to restore the
untuk merestorasi aset pendasar atau tempat dimana aset underlying asset or the site on which it is located, less
berada, dikurangi insentif sewa yang diterima. any lease incentives received.
Perusahaan dan Entitas Anaknya menyajikan aset hak- The Company and Its Subsidiary present right-of-use
guna sebagai bagian dari “Aset hak-guna” di dalam assets as part of “Right-of-use assets” in the
laporan posisi keuangan konsolidasian. consolidated statement of financial position.
Perusahaan dan Entitas Anaknya tidak mengakui aset hak- The Company and Its Subsidiary not recognize right-of-
guna dan liabilitas sewa untuk sewa jangka pendek yang use assets and lease liabilities for short-term leases that
memiliki masa sewa 12 bulan atau kurang, pembayaran have a lease term of 12 months or less, the lease
atas sewa tersebut diakui sebagai beban dengan dasar payment recognize as expenses on a straight-line basis
garis lurus selama masa sewa. over the lease term.
Jika sewa mengalihkan kepemilikan aset pendasar kepada If the lease transfers the ownership of the underlying
Perusahaan pada akhir masa sewa atau jika biaya asset to the Company by the end of the lease term or if
perolehan aset hak-guna merefleksikan Perusahaan akan the cost of the right-of-use asset reflects that the
mengeksekusi opsi beli, maka Perusahaan menyusutkan Company will exercise a purchase option, the Company
aset hak-guna dari tanggal permulaan hingga akhir umur depreciates the right-of-use asset from the
manfaat aset pendasar. Jika tidak, maka Perusahaan commencement date to the end of the useful life of the
menyusutkan aset hak-guna dari tanggal permulaan underlying asset. Otherwise, the Company depreciates
hingga tanggal yang lebih awal antara akhir umur manfaat the right-of-use asset from the commencement date to
aset hak-guna atau akhir masa sewa. the earlier of the end of the useful life of the right-of-
use asset or the end of the lease term.
Sewa Tanah dan Bangunan Land and Building Leases
Opsi Perpanjangan Extention Options
Beberapa sewa gedung kantor mengandung opsi Some leases of office buildings contain extension
perpanjangan yang dapat dieksekusi Perusahaan sebelum options exercisable by the Company before the end of
periode kontrak yang tidak dapat dibatalkan tersebut the non-cancellable contract period. Where practicable,
berakhir. Jika memungkinkan, Perusahaan berupaya the Company seeks to include extension options in new
untuk memasukkan opsi perpanjangan dalam sewa baru leases to provide operational flexibility. The Company
untuk memberikan fleksibilitas operasional. Perusahaan assesses at lease commencement whether it is
menilai pada saat permulaan sewa apakah Perusahaan reasonably certain to exercise the extension options.
cukup pasti untuk mengeksekusi opsi perpanjangan. The Company reassesses whether it is reasonably
Perusahaan menilai kembali apakah cukup pasti untuk certain to exercise the options if there is a significant
mengeksekusi opsi tersebut jika ada peristiwa signifikan event or significant change in circumstances within its
atau perubahan signifikan dalam kondisi yang berada control.
dalam pengendalian Perusahaan.
Sewa Jangka-Pendek dan Sewa Aset Bernilai-Rendah Short-Term Leases and Leases of Low-Value Assets
Perusahaan memilih untuk tidak mengakui aset hak-guna The Company has elected not to recognize right-of-use
dan liabilitas sewa untuk sewa jangka-pendek yang assets and lease liabilities for short-term leases that
memiliki masa sewa 12 bulan atau kurang dan sewa atas have a lease term of 12 months or less and leases of low-
aset bernilai rendah. Perusahaan mengakui pembayaran value assets. The Company recognizes the lease
sewa terkait dengan sewa ini sebagai beban dengan dasar payments associated with these leases as an expense on
garis-lurus selama masa sewa. a straight-line basis over the lease term.
288 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 289
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/29 Exhibit E/29
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL (Lanjutan) 2. MATERIAL ACCOUNTING POLICY INFORMATION (Continued)
q. Aset Takberwujud q. Intangible Assets
Perangkat lunak Software
Perangkat lunak pada awalnya dinyatakan sebesar biaya Software is initially recognized at acquisition cost.
perolehan. Biaya perolehan awal perangkat lunak meliputi The acquisition cost of software consists of its purchase
harga pembelian, termasuk biaya-biaya yang dapat price, including any directly attributable costs in
diatribusikan secara langsung untuk membawa perangkat bringing the software to its intended use. After initial
lunak siap dipakai. Setelah pengakuan awal, perangkat recognition, software is measured using cost model,
lunak diukur menggunakan model biaya, dicatat sebesar stated at cost less accumulated amortization and
biaya perolehannya dikurangi akumulasi amortisasi dan accumulated impairment losses.
akumulasi kerugian penurunan nilai.
Pengeluaran selanjutnya untuk perangkat lunak akan Subsequent expenditure on software assets is
dikapitalisasi hanya jika pengeluaran tersebut menambah capitalized only when it increases the future economic
manfaat ekonomi di masa mendatang untuk asset yang benefits embodied in the specific asset to which it
bersangkutan. Semua pengeluaran lainnya dibebankan relates. All other expenditures are expensed as
pada saat terjadinya. incurred.
Amortisasi diakui dalam laporan laba rugi dan penghasilan Amortization is recognized in the statement of profit or
komprehensif lain dengan menggunakan metode garis loss and other comprehensive income on a straight-line
lurus sepanjang estimasi masa manfaatnya, dimulai dari method over the estimated useful life of software, from
tanggal perangkat lunak tersebut tersedia untuk dipakai. the date that it is available for use.
Estimasi masa manfaat perangkat lunak adalah lima tahun. The estimated useful life of software is five years.
Metode amortisasi, estimasi masa manfaat dan nilai Amortization methods, useful life and residual values
residual ditelaah pada setiap akhir tahun pelaporan dan are reviewed at each financial year-end and adjusted if
disesuaikan jika dianggap tepat. appropriate.
Keuntungan atau kerugian pelepasan aset takberwujud Gains or losses on disposal of intangible assets are
ditentukan dengan membandingkan penerimaan dengan determined by comparing proceeds with the carrying
nilai tercatat dan diakui di dalam laporan laba rugi. amount and are recognized in profit or loss.
r. Pajak Penghasilan r. Income Tax
Beban pajak terdiri dari beban pajak kini dan beban pajak Income tax expense comprises current and deferred tax.
tangguhan. Beban pajak diakui pada laporan laba rugi Income tax expense is recognized in the statement of
kecuali untuk bagian yang langsung diakui di komponen profit or loss except to the extent it relates to items
ekuitas lainnya, dimana beban pajak yang terkait dengan recognized directly in other equity components, in
bagian tersebut diakui di penghasilan komprehensif lain. which case it is recognized in other comprehensive
income.
Beban pajak kini adalah utang pajak yang ditentukan Current tax is the expected tax payable on the taxable
berdasarkan laba kena pajak untuk tahun yang income for the current year, using tax rates enacted or
bersangkutan yang dihitung berdasarkan tarif pajak yang substantively enacted at reporting date.
berlaku atau yang secara substansial telah berlaku pada
tanggal pelaporan.
Beban pajak tangguhan diakui sehubungan dengan adanya Deferred tax is recognized in respect of temporary
perbedaan temporer antara nilai tercatat aset dan differences between the carrying amounts of assets and
liabilitas untuk tujuan pelaporan keuangan, dan nilai aset liabilities for financial reporting purposes and the
dan liabilitas yang digunakan untuk tujuan perpajakan. amounts used for taxation purposes. Deferred tax is
Pajak tangguhan diukur dengan menggunakan tarif pajak measured at the tax rates that are expected to be
yang diharapkan untuk diterapkan atas perbedaan applied to temporary differences when they reverse,
temporer pada saat pembalikan, berdasarkan peraturan based on the laws that have been enacted or
yang telah berlaku atau secara substantif berlaku pada substantively enacted at the reporting date.
tanggal pelaporan.
Metode ini juga mengharuskan pengakuan manfaat pajak This method also requires the recognition of future tax
di masa depan, seperti kompensasi rugi fiskal, apabila benefits, such as tax loss carryforwards, to the extent
besar kemungkinan manfaat pajak tersebut dapat that realization of such benefits is probable.
direalisasi.
Aset dan liabilitas pajak tangguhan diakui untuk perbedaan Deferred tax assets and liabilities are recognized for
temporer antara basis komersial dan basis fiskal atas aset temporary differences between the financial and the
dan liabilitas pada setiap tanggal pelaporan. tax bases of assets and liabilities at each reporting date.
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 289
Page 290
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/30 Exhibit E/30
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL (Lanjutan) 2. MATERIAL ACCOUNTING POLICY INFORMATION (Continued)
r. Pajak Penghasilan (Lanjutan) r. Income Tax (Continued)
Aset pajak tangguhan dikaji ulang setiap tanggal pelaporan Deferred tax assets are reviewed at each reporting date
dan dikurangi apabila besar kemungkinan manfaat pajak and are reduced to the extent that it is no longer
terkait tidak lagi mungkin direalisasi. Pengurangan probable that the related tax benefit will be realized;
tersebut akan berlaku terbalik saat kemungkinan laba such reductions are reversed when the probability of
fiskal di masa depan membaik. Aset pajak tangguhan yang future taxable profits improves. Unrecognized deferred
belum diakui dikaji ulang pada setiap tanggal pelaporan tax assets are reassessed at each reporting date and
dan diakui apabila besar kemungkinan bahwa jumlah laba recognized to the extent that it has become probable
fiskal pada masa mendatang akan tersedia untuk that future taxable profits will be available against
merealisasikan manfaat pajak tersebut. which they can be used.
Aset pajak kini dan liabilitas pajak kini saling hapus dan Current tax assets and current tax liabilities shall be
nilai netonya disajikan dalam laporan posisi keuangan offset and the net amount is presented in the statement
jika, dan hanya jika, Perusahaan memiliki hak yang of financial position when and only when, the Company
berkekuatan hukum untuk melakukan saling hapus atas has a legal enforceable right to set off the amounts and
jumlah yang telah diakui tersebut dan berniat untuk intends either to settle on a net basis or to realise the
menyelesaikan secara neto atau untuk merealisasikan asset and settle the liability simultaneously.
aset dan menyelesaikan liabilitasnya secara simultan.
Perpajakan lainnya Other taxation matters
Penyesuaian atas liabilitas pajak dicatat pada saat Surat Amendments to tax obligations are recorded when an
Ketetapan Pajak (SKP) diterima atau jika mengajukan Tax Assessment Letter is received and/or, if objected to
keberatan dan banding, pada saat keputusan atas and/or appealed against by Company, when the result
keberatan dan banding tersebut diterima. of the objection and/or appeal is determined.
Jumlah tambahan pokok dan denda pajak yang The extra amount of tax principal and penalties
ditetapkan dengan Surat Ketetapan Pajak (SKP) stipulated by the Tax Assessment Letter is recognized as
diakui sebagai pendapatan atau beban dalam operasi income or expense in the current operations, unless
periode berjalan, kecuali jika diajukan upaya further proposed settlement efforts. The extra amount
penyelesaian selanjutnya. Jumlah tambahan pokok of tax principal and penalties stipulated by SKP are
dan denda pajak yang ditetapkan dengan SKP deferred as long as it meets the criteria for asset
ditangguhkan pembebanannya sepanjang memenuhi recognition.
kriteria pengakuan aset.
s. Pinjaman yang Diterima s. Fund Borrowings
Pinjaman yang diterima merupakan dana yang diterima Borrowings represent funds received from various banks
dari berbagai bank dan institusi keuangan, termasuk and financial institutions, including without recourse
fasilitas pembiayaan bersama (joint financing) without joint financing facilities. Without recourse joint
recourse. Fasilitas pembiayaan bersama (joint financing) financing facilities are presented gross, i.e loans
without recourse disajikan secara gross, yaitu sebanyak granted to customers and borrowings received from
pinjaman yang diberikan kepada konsumen dan pinjaman banks are recorded at their full amount with repayment
yang diterima dari bank dicatat dalam nilai penuh dengan obligations in accordance with the terms of the
kewajiban pembayaran kembali sesuai dengan agreement.
persyaratan perjanjian pinjaman.
Pinjaman yang diterima diklasifikasikan sebagai liabilitas Borrowings are classified as financial liabilities
keuangan yang diukur dengan biaya perolehan measured at amortized cost. Additional costs that are
diamortisasi. Biaya tambahan yang dapat diatribusikan directly attributable to the acquisition of loans are
secara langsung dengan perolehan pinjaman dikurangkan deducted from total borrowings. See Note 2e for the
dari jumlah pinjaman yang diterima. Lihat Catatan 2e accounting policy on financial liabilities measured at
untuk kebijakan akuntansi atas liabilitas keuangan yang amortized cost.
diukur pada biaya perolehan diamortisasi.
290 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 291
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/31 Exhibit E/31
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL (Lanjutan) 2. MATERIAL ACCOUNTING POLICY INFORMATION (Continued)
t. Surat Berharga yang Diterbitkan t. Securities Issued
Surat berharga yang diterbitkan meliputi utang Obligasi. Securities issued consist of Bonds payable.
Surat berharga yang diterbitkan diklasifikasikan sebagai Securities issued are classified as financial liabilities at
liabilitas keuangan yang diukur dengan biaya perolehan amortized cost.
diamortisasi.
Biaya tambahan yang dapat diatribusikan secara langsung Additional cost directly attributable to the issuance of
dengan penerbitan surat berharga diakui sebagai diskonto securities are recognized as a discount and offset
dan dikurangkan langsung dari hasil emisi dan directly from the proceeds derived from such offerings
diamortisasi selama jangka waktu surat berharga yang and amortized over the period of the securities issued
diterbitkan tersebut dengan menggunakan metode suku using effective interest rate method.
bunga efektif.
Lihat Catatan 2e untuk kebijakan akuntansi atas liabilitas Refer to Note 2e for accounting policy of financial
keuangan yang diukur dengan biaya perolehan liabilities at amortized cost.
diamortisasi.
u. Imbalan Kerja u. Employees’ Benefits
Imbalan kerja jangka pendek Short-term employees’ benefits
Imbalan kerja jangka pendek diakui pada saat terutang Short-term employees’ benefits are recognized when
kepada karyawan berdasarkan metode akrual. they are owed to the employees based on an accrual
method.
Imbalan kerja jangka panjang dan imbalan pasca-kerja Long-term and post-employment benefits
Perusahaan dan Entitas Anaknya mencadangkan jumlah The Company and Its Subsidiary are provide a minimum
minimum imbalan panjang sesuai dengan Undang-Undang amount of pension benefit in accordance with Labor Law
Ketenagakerjaan (UUCK) atau Kontrak Kerja Bersama or Collective Labour Agreement (CLA), whichever is
(KKB), mana yang lebih tinggi, karena UUCK atau KKB higher, since the labour law or the CLA represent
adalah program imbalan pasti yang menentukan rumus defined benefit plans which sets the formula for
tertentu untuk menghitung jumlah minimal imbalan determining the minimum amount of benefit.
pensiun.
Kewajiban imbalan pasca-kerja yang diakui di laporan The obligation for post-employment benefits recognized
posisi keuangan dihitung berdasarkan nilai kini dari in the statement of financial position is calculated at
estimasi kewajiban imbalan pasca-kerja dimasa depan present value of estimated future benefits that the
yang timbul dari jasa yang telah diberikan oleh karyawan employees have earned in return for their services in
pada masa kini dan masa lalu, dikurangi dengan nilai the current and prior years, deducted by any plan
wajar aset neto dana pensiun. Perhitungan dilakukan oleh assets. The calculation is performed by an independent
aktuaria independen dengan metode projected-unit- actuary using the projected-unit-credit method.
credit.
Beban jasa kini, beban bunga, beban jasa lalu yang telah Current service costs, interest costs, vested past service
menjadi hak karyawan, dan dampak kurtailmen atau costs, and effect of curtailment or settlement (if any)
penyelesaian (jika ada) diakui segera sebagai beban are recognized immediately in the statement of profit
dalam laporan laba rugi dan penghasilan komprehensif or loss and other comprehensive income.
lain.
Keuntungan atau kerugian aktuarial yang timbul dari Actuarial gains or losses arising from experience
penyesuaian dan perubahan dalam asumsi-asumsi adjustments and changes in actuarial assumptions are
aktuarial langsung diakui seluruhnya melalui penghasilan directly fully recognized to other comprehensive income
atau beban komprehensif lainnya pada tahun dimana or expense in the year when such actuarial gain/(losses)
keuntungan/(kerugian) aktuarial terjadi. Akumulasi occur. Accumulated actuarial gains and losses are
keuntungan dan kerugian aktuarial dicatat di saldo laba. recorded in retained earnings.
Perusahaan dan Entitas Anaknya telah memiliki program The Company and Its Subsidiary have a defined
pensiun iuran pasti yang mana Perusahaan membayar contribution pension program where the Company pays
iuran ke dana pensiun lembaga keuangan yang dihitung contributions to a financial institution pension plan
berdasarkan persentase tertentu dari penghasilan tetap which is calculated at a certain percentage of fixed
yang diterima karyawan yang sudah memenuhi kriteria income of the employees who meet the Company’s
yang ditetapkan Perusahaan. Iuran dibebankan ke dalam criteria. The contributions are charged to the statement
laporan laba rugi dan penghasilan komprehensif lain pada of profit or loss and other comprehensive income as they
saat terutang. become payable.
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 291
Page 292
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/32 Exhibit E/32
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL (Lanjutan) 2. MATERIAL ACCOUNTING POLICY INFORMATION (Continued)
v. Pengakuan Pendapatan dan Beban v. Revenue and Expenses Recognition
Pendapatan dari piutang pembiayaan (Catatan 2g Income from financing receivables (Notes 2g and 2h),
dan 2h), pendapatan bunga dan beban bunga diakui interest income and interest expense are recognized
sesuai dengan jangka waktu kontrak berdasarkan metode over the term of the contract based on the effective
suku bunga efektif. interest method.
Pada saat menghitung suku bunga efektif, Perusahaan When calculating the effective interest rate, the
dan Entitas Anaknya mengestimasi arus kas di masa Company and Its Subsidiary estimate future cash flow
datang dengan mempertimbangkan seluruh persyaratan considering all contractual term of the financial
kontraktual dalam instrumen keuangan tersebut (seperti instrument (for example, prepayment options, call
pelunasan dipercepat, opsi beli (call option) dan opsi option and other similar options) but does not consider
serupa lainnya), tetapi tidak mempertimbangkan future credit losses.
kerugian kredit di masa datang.
Perhitungan suku bunga efektif mencakup seluruh biaya The calculation includes all fees, commissions and other
yang dibayarkan atau diterima oleh para pihak dalam fees paid or received between parties to the contract
kontrak yang merupakan bagian tak terpisahkan dari suku that are an integral part of the effective interest rate,
bunga efektif, biaya transaksi dan seluruh premi atau transaction costs and all other premiums discounts.
diskon lainnya.
Biaya transaksi merupakan biaya tambahan yang Transaction costs are additional charges that are
dapat diatribusikan secara langsung untuk perolehan, directly attributable to the acquisition, issuance or
penerbitan atau pelepasan aset keuangan atau liabilitas disposal of financial assets or financial liabilities.
keuangan.
Biaya tambahan merupakan biaya yang tidak akan terjadi Additional costs are costs that would not occur if the
apabila Perusahaan dan Entitas Anaknya tidak Company and Its Subsidiary do not obtain, publish or
memperoleh, menerbitkan atau melepaskan instrumen otherwise dispose of financial instruments.
keuangan.
Jika aset keuangan atau kelompok aset keuangan serupa Once a financial asset or a group of similar financial
telah diturunkan nilainya sebagai akibat kerugian assets has been written down as a result of an
penurunan nilai, maka pendapatan bunga yang diperoleh impairment loss, interest income is recognised using the
setelahnya diakui berdasarkan suku bunga yang rate of interest used to discount the future cash flows
digunakan untuk mendiskonto arus kas masa datang for the purpose of measuring the impairment loss.
dalam menghitung kerugian penurunan nilai.
Pendapatan pembiayaan Perusahaan disajikan neto The Company’s financing income is presented net
setelah dikurangi dengan bagian pendapatan milik bank of with financing income belongs to the bank in relation
atau pihak lain sehubungan dengan transaksi-transaksi with channeling transactions, joint financing
penerusan pinjaman, pembiayaan bersama, anjak cooperations, factoring, and the appointment as
piutang dan penunjukan selaku pengelola piutang. manager of accounts receivable.
Pendapatan selisih premi asuransi dan selisih atas beban Income from excess of insurance premiums and excess
komisi dan subsidi dealer, pendapatan administrasi, of commission expenses and subsidy to dealer,
denda keterlambatan dan pendapatan terminasi diakui administration income, late charges and termination
sebagai penyesuaian atas suku bunga efektif atas income are recognised as an adjustment to the effective
pinjaman yang diberikan dan piutang (Catatan 2e). interest rate of the loan and receivables (Note 2e).
Pendapatan syariah terdiri dari pendapatan dan transaksi Sharia income consist of ijarah income and ijarah
piutang ijarah yang diakui dengan metode akrual selama receivables on accrual basis over the period of ijarah
masa akad ijarah dan IMBT. and IMBT contract.
Pendapatan pembiayaan konsumen entitas anak disajkan Subsidiary’s consumer financing income is presented net
bersih setelah dikurangi bagian pendapatan milik of with consumer financing income belongs to the lender
pemberi pinjaman atau pihak lain sehubungan dengan in relation with channeling transactions.
transaksi-transaksi penerusan pinjaman.
Beban diakui pada saat terjadinya dengan menggunakan Expenses are recognized as incurred on an accrual basis.
dasar akrual.
292 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 293
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/33 Exhibit E/33
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL (Lanjutan) 2. MATERIAL ACCOUNTING POLICY INFORMATION (Continued)
w. Penurunan Nilai Aset Non-Keuangan w. Impairment of non-financial assets
Pengujian penurunan nilai suatu aset non-keuangan Impairment test on non-financial assets with indefinite
menggunakan masa manfaat ekonomi tidak terbatas useful economic life are undertaken annually at the
dilakukan setiap tahun pada akhir periode pelaporan financial year end. Other non-financial assets are
keuangan. Aset non-keuangan lain duji penurunan nilai subject to impairment test whenever events or changes
ketika telah terjadi atau ada perubahan dalam keadaan in circumstances indicate that their carrying amount
yang mengindikasikan bahwa nilai tercatat tidak may not be recoverable. Where the carrying value of an
terpulihkan. Apabila nilai tercatat aset melebihi jumlah asset exceedsits recoverable amount (i.e. the higher of
terpulihkan (yaitu mana yang lebih tinggi antara nilai value in use and fair value less costs to sell), the asset
pakai dan nilai wajar dikurangi untuk menjual), maka is written down accordingly.
aset tersebut diturunkan nilainya.
x. Transaksi dan Saldo dalam Mata Uang Asing x. Balances in Foreign Currency Transactions
Transaksi-transaksi dalam mata uang asing dijabarkan ke Transactions denominated in foreign currencies are
dalam Rupiah dengan menggunakan kurs yang berlaku translated into Rupiah at the exchange rates prevailing
pada tanggal transaksi. Pada tanggal pelaporan, aset dan at the date of the transaction. At the reporting date,
liabilitas moneter dalam mata uang asing dijabarkan ke monetary assets and liabilities denominated in foreign
dalam Rupiah dengan menggunakan kurs yang berlaku currencies are translated into Rupiah using the
pada tanggal laporan posisi keuangan. exchange rates prevailing at the statement of financial
position date.
Keuntungan dan kerugian selisih kurs yang timbul dari Exchange gains and losses arising from transactions in
transaksi dalam mata uang asing dan dari penjabaran aset foreign currencies and from the translation of foreign
dan liabilitas moneter dalam mata uang asing, diakui currency monetary assets and liabilities are recognized
pada laporan laba rugi dan penghasilan komprehensif lain in the current year statement of profit or loss and other
tahun berjalan. comprehensive income.
Kurs yang digunakan untuk penjabaran mata uang asing The exchange rates applied for translating the foreign
pada tanggal 31 Desember 2024 dan 2023 berdasarkan kurs currency as of 31 December 2024 and 2023 are based of
tengah yang diterbitkan Bank Indonesia, yaitu sebagai the mid exchange rate published by Bank Indonesia, are
berikut: as follows:
31 Desember/ 31 Desember/
December 2024 December 2023
(nilai penuh)/ (nilai penuh)/
(full amount) (full amount)
1 Dollar Amerika Serikat (USD) 16.162 15.416 1 United States Dollars (USD)
Penjabaran mata uang asing dicatat sesuai dengan Foreign currency translation is recorded in accordance
PSAK 221 – Pengaruh Perubahan Nilai Tukar Valuta Asing. with SFAS 221 – The Effects of Changes in Foreign Exchange
Rates.
y. Segmen Operasi y. Operating Segment
Segmen operasi adalah suatu komponen dari entitas: An operating segment is a component of the entity that:
(1) yang terlibat dalam aktivitas bisnis yang mana (1) engages in business activities from which it may
memperoleh pendapatan dan menimbulkan beban earn revenues and incur expenses, including
(termasuk pendapatan dan beban terkait dengan revenues and expenses that relate to transactions
transaksi dengan komponen lain dari entitas yang with any of the entity’s components;
sama);
(2) yang hasil operasinya dikaji ulang secara regular (2) whose operating results are reviewed regularly by
oleh pengambil keputusan operasional untuk the chief operating decision maker to make
membuat keputusan tentang sumber daya yang decisions about resources allocated to the segment
dialokasikan pada segmen tersebut dan menilai and assess its performance;
kinerjanya;
(3) dan tersedia informasi keuangan yang dapat (3) and for which discrete financial information is
dipisahkan. available.
Hasil segmen yang dilaporkan kepada pengambil Segment results that are reported to the chief
keputusan operasional termasuk bagian yang dapat operating decision maker include items directly
diatribusikan secara langsung kepada segmen dan juga attributable to a segment as well as those that can be
yang dapat dialokasikan dengan basis yang wajar. allocated on a reasonable basis.
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 293
Page 294
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/34 Exhibit E/34
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL (Lanjutan) 2. MATERIAL ACCOUNTING POLICY INFORMATION (Continued)
y. Segmen Operasi (Lanjutan) y. Operating Segment (Continued)
Perusahaan dan Entitas Anaknya mengelola kegiatan The Company and Its Subsidiary manage its business
usahanya dan mengidentifikasi segmen yang dilaporkan activities and identifies its segments reported based on
berdasarkan jenis produk dan wilayah geografis. product categories and geographic area.
Perusahaan dan Entitas Anaknya menentukan dan The Company and Its Subsidiary determine and present
menyajikan segmen operasi berdasarkan informasi yang operating segments based on the information that is
secara internal diberikan kepada pengambil keputusan internally provided to the chief operating decision
operasional. maker.
z. Saham Treasuri z. Treasury Stock
Jika entitas memperoleh kembali instrumen ekuitasnya, If the entity regain its equity instruments, then those
maka instrumen tersebut (saham treasuri) dikurangkan instruments (treasury shares) are deducted from
dari ekuitas. Keuntungan atau kerugian yang timbul dari equity. No gain or loss is recognized in profit or loss on
pembelian, penjualan, penerbitan, atau pembatalan the purchase, sale, issue or cancellation of the entity’s
instrumen ekuitas entitas tersebut tidak diakui dalam laba own equity instruments. Compensation paid or received
rugi. Imbalan yang dibayarkan atau diterima diakui secara is recognized directly in equity.
langsung di ekuitas.
aa. Program Kompensasi Manajemen dan Karyawan aa. Management and Employees Stock Option Program
Berbasis Saham
Karyawan (termasuk eksekutif senior) Perusahaan Employees (including senior executives) of the Company
menerima remunerasi dalam bentuk pembayaran berbasis receive remuneration in the form of share-based
saham, dimana karyawan memberikan jasa sebagai payment transactions, whereby employees render
pertimbangan untuk instrumen ekuitas (‘equity-settled services as consideration for equity instruments
transactions’). Saat opsi di eksekusi, Perusahaan (‘equity-settled transactions’). When the options are
menerbitkan saham baru. Hasil neto dari eksekusi berupa exercised, the Company issues new shares.
biaya yang dapat diatribusikan secara langsung The proceeds received net of any directly attributable
dikreditkan ke modal saham (nilai nominal) dan premi transaction costs are credited to share capital (nominal
saham. value) and share premium.
Dalam situasi di mana instrumen ekuitas yang diterbitkan In situations where equity instruments are issued and
dan beberapa atau seluruh barang atau jasa yang diterima some or all of the goods or services received by the
oleh entitas sebagai pertimbangan tidak dapat entity as consideration cannot be specifically
diidentifikasi secara khusus, barang atau jasa yang identified, the unidentified goods or services received
diterima (atau yang akan diterima) yang tidak dapat (or to be received) are measured as the difference
diidentifikasi diukur sebagai selisih antara nilai wajar between the fair value of the share-based payment
pembayaran berbasis saham dan nilai wajar dari barang transaction and the fair value of any identifiable goods
atau jasa yang diterima yang teridentifikasi pada tanggal or services received at the grant date. This is then
pemberian hak. Hal ini kemudian dikapitalisasi atau capitalised or expensed as appropriate.
dibebankan secara tepat.
Beban program opsi karyawan berbasis saham dan beban Employee stock option program and management option
program opsi manajemen diukur pada tanggal pemberian program costs are measured at grant date based on the
kompensasi (grant date) berdasarkan nilai wajar dari fair value of the stock option using a black-scholes
seluruh opsi yang diberikan yang dihitung dengan model.
menggunakan metode black-scholes.
ab. Laba per Saham ab. Earnings per Share
Sesuai dengan PSAK 233 “Laba per saham”, laba per In accordance with SFAS 233 “Earning per share”,
saham dasar dihitung dengan cara membagi laba bersih earnings per share is calculated by dividing net profit
yang tersedia bagi pemegang saham dengan jumlah rata- available to shareholders by the weighted average
rata tertimbang saham biasa yang beredar pada tahun number of common shares outstanding during current
yang berjalan. year.
Laba per saham dilusian dihitung dengan cara membagi Dilluted earning per share is calculated by dividing net
laba bersih yang tersedia bagi pemegang saham dengan profit available to shareholders by the weighted
jumlah rata-rata tertimbang saham biasa yang telah average number of shares outstanding as adjusted for
disesuaikan dengan dampak dari semua efek berpotensi the effect of all dilutive potential ordinary shares.
saham biasa yang dilutif.
294 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 295
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/35 Exhibit E/35
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL (Lanjutan) 2. MATERIAL ACCOUNTING POLICY INFORMATION (Continued)
ab. Laba per Saham (Lanjutan) ab. Earnings per Share (Continued)
Jika jumlah saham yang beredar meningkat akibat dari If the outstanding number of shares increase as result of
pemisahan saham (stock split), maka perhitungan laba stock split, the computation of basic earnings per share
per saham dasar untuk seluruh periode penyajian harus for all presentation periods is adjusted retrospectively.
disesuaikan secara retrospektif.
Perusahaan dan Entitas Anaknya tidak mempunyai efek The Company and Its Subsidiary have no outstanding
berpotensi saham biasa yang bersifat dilutif pada tanggal dilutive potential dilutive ordinary shares as of
31 Desember 2024 dan 2023, oleh karena itu laba per 31 December 2024 and 2023, accordingly no diluted
saham dilusian tidak dihitung dan disajikan pada laporan earnings per share is calculated and presented in the
laba rugi dan penghasilan komprehensif lain consolidated statements of profit or loss other
konsolidasian. comprehensive income.
ac. Dividen ac. Dividends
Pembagian dividen kepada para pemegang saham Dividend distributions to the Company’s shareholders is
Perusahaan diakui sebagai sebuah liabilitas dalam laporan recognised as a liability in the financial statement in the
keuangan pada periode ketika dividen tersebut disetujui period which the dividends are approved by the
oleh para pemegang saham Perusahaan. Pembagian Company’s shareholders. Interim dividend distributions
dividen interim diakui sebagai liabilitas ketika dividen are recognised as a liability when the dividends are
disetujui berdasarkan keputusan rapat Direksi sesuai approved based on a Board of Directors’ resolution in
dengan Anggaran Dasar Perusahaan. accordance with the Company’s Articles of Association.
ad. Provisi ad. Provision
Provisi diakui ketika Perusahaan dan Entitas Anaknya Provision are recognized when the Company and Its
memiliki kewajiban kini (baik bersifat hukum maupun Subsidiary have a present obligation (legal or
bersifat konstruktif) yang akibat peristiwa masa lalu besar constructive) where, as a result of a past event, it is
kemungkinannya penyelesaian kewajiban tersebut probable that an outflow of resources embodying
mengakibatkan arus keluar sumber daya yang economic benefits will be required to settle the
mengandung manfaat ekonomi dan estimasi yang andal obligation and a reliable estimate can be made of the
mengenai jumlah kewajiban tersebut dapat dibuat. amount of the obligation.
Provisi ditelaah pada setiap akhir periode pelaporan dan Provision are reviewed at each reporting date and
disesuaikan untuk mencerminkan estimasi kini terbaik. adjusted to reflect the current best estimate. If it is no
Jika tidak terdapat kemungkinan arus keluar sumber daya longer probable that an outflow of resources embodying
yang mengandung manfaat ekonomi untuk menyelesaikan economic benefits will be required to settle the
kewajiban tersebut, provisi dipulihkan. obligation, the provision is reversed.
Apabila dampak nilai waktu uang adalah material, maka If the effect of the time value of money is material,
provisi didiskontokan dengan menggunakan tarif sebelum provisions are discounted using a current pre - tax rate
pajak, jika lebih tepat, untuk mencerminkan risiko that reflects, where appropriate, the risk specific to the
spesifik liabilitas. Ketika pendiskontoan digunakan, liability. When discounting is used, the increase in the
kenaikan provisi terkait dengan berlalunya waktu diakui provision due to the passage of time is recognized as a
sebagai beban keuangan. finance cost.
ae. Kontinjensi ae. Contingencies
Liabilitas kontinjen tidak diakui di dalam laporan Contingent liabilities are not recognized in the financial
keuangan. Liabilitas kontinjensi diungkapkan di dalam statements. They are disclosed in the notes to the
catatan atas laporan keuangan kecuali kemungkinan arus financial statements unless the possibility of an outflow
keluar sumber daya ekonomi adalah kecil. of resources embodying economic benefits is remote.
Aset kontinjen tidak diakui di dalam laporan keuangan, Contingent assets are not recognized in the financial
namun diungkapkan di dalam catatan atas laporan statements but are disclosed in the notes to the
keuangan jika terdapat kemungkinan suatu arus masuk financial statements when an inflow of economic
manfaat ekonomis. benefits is probable.
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 295
Page 296
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/36 Exhibit E/36
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL (Lanjutan) 2. MATERIAL ACCOUNTING POLICY INFORMATION (Continued)
af. Peristiwa Setelah Periode Pelaporan af. Events After the Reporting Period
Peristiwa setelah periode pelaporan yang menyajikan Events after the reporting period that provide evidence
bukti dari kondisi yang terjadi pada akhir periode of conditions that existed at the end of the reporting
pelaporan (peristiwa penyesuaian) yang dicerminkan di period (adjusting events) are reflected in the financial
dalam laporan keuangan. Peristiwa setelah periode statements. Events after the reporting period that are
pelaporan yang bukan merupakan peristiwa penyesuaian, not adjusting events are disclosed in the notes to the
diungkapkan di dalam catatan laporan keuangan bila financial statements when material.
material.
3. PENGGUNAAN ESTIMASI DAN PERTIMBANGAN 3. USE OF ESTIMATES AND JUDGEMENTS
Pertimbangan Akuntansi yang Penting, Estimasi dan Asumsi Significant Accounting Judgements, Estimates and
Assumptions
Penyusunan laporan keuangan konsolidasian sesuai dengan The preparation of the Company’s consolidated financial
Standar Akuntansi Keuangan di Indonesia, mengharuskan statements, in conformity with Indonesian Financial
manajemen membuat pertimbangan, estimasi dan asumsi Accounting Standards requires management to make
yang mempengaruhi aset, liabilitas, komitmen, dan judgements, estimates and assumptions that affect the
kontinjensi yang dilaporkan. Karena adanya unsur reported amounts of assets, liabilities, commitments, and
ketidakpastian melekat dalam melakukan estimasi sehingga contingent liabilities which are reported. Due to inherent
dapat menyebabkan jumlah sesungguhnya yang dilaporkan uncertainty in the estimates thus can lead to actual results
pada periode yang akan datang berbeda dengan jumlah yang reported in future periods differ from those estimates.
diestimasikan.
I. Penggunaan Pertimbangan I. Use of Judgements
Pertimbangan berikut ini dibuat oleh manajemen dalam The following judgements are made by management in
rangka penerapan kebijakan akuntansi Perusahaan yang the process of applying the Company’s accounting
memiliki pengaruh paling signifikan atas jumlah yang policies that have the most significant effects on the
diakui dalam laporan keuangan: amounts recognized in the financial statements:
(i) Klasifikasi aset dan liabilitas keuangan (i) Classification of financial assets and financial
liabilities
Perusahaan dan Entitas Anaknya menetapkan The Company and Its Subsidiary determine the
klasifikasi atas aset dan liabilitas tertentu sebagai classifications of certain assets and liabilities as
aset keuangan dan liabilitas keuangan dengan financial assets and financial liabilities by judging
mempertimbangkan apakah definisi yang ditetapkan if they meet the definition set forth in SFAS 109.
PSAK 109 dipenuhi. Dengan demikian, aset keuangan Accordingly, the financial assets and financial
dan liabilitas keuangan diakui sesuai dengan liabilities are accounted for in accordance with
kebijakan akuntansi Perusahaan seperti the Company’s accounting policies as disclosed in
diungkapkan pada Catatan 2e. Note 2e.
(ii) Cadangan atas kerugian penurunan nilai aset (ii) Allowance for impairment of financial assets
keuangan
Perusahaan dan Entitas Anaknya mengevaluasi The Company and Its Subsidiary evaluate specific
akun tertentu yang diketahui bahwa para accounts where it has information that certain
pelanggannya tidak dapat memenuhi liabilitas customers are unable to meet their financial
keuangannya. Dalam hal tersebut, Perusahaan obligations. In these cases, the Company uses
mempertimbangkan, berdasarkan fakta dan situasi judgement, based on available facts and
yang tersedia, termasuk namun tidak terbatas pada circumstances, including but not limited to, the
jangka waktu, hubungan dengan pelanggan dan length of its relationship with the customer and the
status piutang dari pelanggan berdasarkan catatan customer’s current receivables status based on any
piutang pihak ketiga yang tersedia dan faktor pasar available third party receivables reports and known
yang telah diketahui, untuk mencatat cadangan market factors, to record specific allowance for
spesifik atas pelanggan terhadap jumlah terutang customers against amounts due to reduce its
guna mengurangi jumlah piutang yang diharapkan receivable amounts that the Company and Its
dapat diterima oleh Perusahaan dan Entitas Subsidiary expected to collect.
Anaknya.
296 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 297
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/37 Exhibit E/37
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
3. PENGGUNAAN ESTIMASI DAN PERTIMBANGAN (Lanjutan) 3. USE OF ESTIMATES AND JUDGEMENTS (Continued)
Pertimbangan Akuntansi yang Penting, Estimasi dan Asumsi Significant Accounting Judgements, Estimates and
(Lanjutan) Assumptions (Continued)
I. Penggunaan Pertimbangan (Lanjutan) I. Use of Judgements (Continued)
Pertimbangan berikut ini dibuat oleh manajemen dalam The following judgements are made by management in
rangka penerapan kebijakan akuntansi Perusahaan yang the process of applying the Company’s accounting
memiliki pengaruh paling signifikan atas jumlah yang policies that have the most significant effects on the
diakui dalam laporan keuangan: (Lanjutan) amounts recognized in the financial statements:
(Continued)
(ii) Cadangan atas kerugian penurunan nilai aset (ii) Allowance for impairment of financial assets
keuangan (Lanjutan) (Continued)
Cadangan spesifik ini dievaluasi kembali dan These specific allowances are re-evaluated and
disesuaikan jika tambahan informasi yang diterima adjusted as additional information received
mempengaruhi jumlah cadangan kerugian affects the amounts of allowance for impairment
penurunan nilai piutang pembiayaan. Nilai tercatat of financing receivables. The carrying amount
dari piutang pembiayaan sebelum cadangan of the Company’s financing receivables
kerugian penurunan nilai pada tanggal 31 Desember before allowance for impairment losses as of
2024 dan 2023 masing-masing sebesar Rp 22.827.418 31 December 2024 and 2023 were amounted to
dan Rp 21.470.513. Penjelasan lebih rinci Rp 22,827,418 and Rp 21,470,513, respectively.
diungkapkan dalam Catatan 5. Further details are shown in Note 5.
II. Estimasi dan Asumsi II. Estimates and Assumptions
Asumsi utama masa depan dan sumber utama estimasi The key assumptions concerning the future and
ketidakpastian lain pada akhir periode pelaporan yang other key sources of estimation uncertainty at
memiliki risiko signifikan bagi penyesuaian yang material the reporting date that have a significant risk of
terhadap nilai tercatat aset dan liabilitas untuk periode causing a material adjustment to the carrying amounts
pelaporan berikutnya, diungkapkan dibawah ini. of assets and liabilities within the next financial year
Perusahaan mendasarkan asumsi dan estimasi pada are disclosed below. The Company based its
parameter yang tersedia pada saat laporan keuangan assumptions and estimates on parameters which are
disusun. Asumsi dan situasi mengenai perkembangan available when the financial statements were prepared.
masa depan, mungkin berubah akibat perubahan pasar Existing assumptions and circumstances about future
atau situasi diluar kendali Perusahaan dan Entitas development, may change due to market changes or
Anaknya. Perubahan tersebut dicerminkan dalam asumsi circumstances arising beyond the control of the
terkait pada saat terjadinya. Company and Its Subsidiary. Such changes are reflected
in the assumptions as they occur.
(i) Nilai wajar atas instrumen keuangan (i) Fair value of financial instruments
Nilai wajar instrumen keuangan yang secara aktif The fair value of financial instruments that
diperdagangkan di pasar keuangan ditentukan are actively traded in organized financial
dengan mengacu pada kuotasi harga pasar yang markets is determined by reference to quoted
berlaku pada penutupan pasar pada akhir tahun market bid prices at the close of business at the
pelaporan. Untuk instrumen keuangan yang tidak end of the reporting year. For financial
diperdagangkan di pasar aktif, nilai wajar instruments where there is no active market, fair
ditentukan dengan menggunakan teknik penilaian. value is determined using valuation techniques.
Teknik penilaian tersebut meliputi penggunaan Such techniques may include using recent arm’s
transaksi pasar terkini yang dilakukan secara wajar length market transaction, reference to the
(arm’s length market transactions), referensi atas current fair value of another instrument that is
nilai wajar terkini dari instrumen lain yang secara substantially the same, discounted cash flow
substantial sama, analisis arus kas yang didiskonto, analysis, or other valuation models. Further
atau model penilaian lainnya. Penjelasan lebih rinci details are shown in Note 36.
diungkapkan dalam Catatan 36.
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 297
Page 298
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/38 Exhibit E/38
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
3. PENGGUNAAN ESTIMASI DAN PERTIMBANGAN (Lanjutan) 3. USE OF ESTIMATES AND JUDGEMENTS (Continued)
Pertimbangan Akuntansi yang Penting, Estimasi dan Asumsi Significant Accounting Judgements, Estimates and
(Lanjutan) Assumptions (Continued)
II. Estimasi dan Asumsi (Lanjutan) II. Estimates and Assumptions (Continued)
(ii) Cadangan kerugian penurunan nilai aset keuangan (ii) Allowance for impairment losses of financial
assets
Perusahaan dan Entitas Anaknya telah menelaah The Company and Its Subsidiary have reviewed
pinjaman yang diberikan dan piutang pada setiap loans and receivables at each statements of
tanggal laporan posisi keuangan untuk menilai financial positions date to assess whether
apakah penurunan nilai harus diakui dalam laporan impairment should be recognized in the profit or
laba rugi. Secara khusus, justifikasi oleh manajemen loss or not. In particular, justification by
diperlukan dalam estimasi jumlah dan waktu arus management is required to estimate the amount
kas di masa mendatang ketika menentukan and timing of future cash flows when determining
penurunan nilai. Dalam estimasi arus kas ini, impairment. In the estimation of cash flows, the
Perusahaan membuat justifikasi tentang situasi Company makes the justification of the financial
keuangan debitur dan nilai realisasi neto agunan. condition of debtors and net realizable value of
Estimasi-estimasi ini didasarkan pada asumsi-asumsi collateral. These estimates are based on
tentang sejumlah faktor dan hasil aktual mungkin assumptions about a number of factors and actual
berbeda, yang tercermin dalam perubahan cadangan results may differ, as reflected in changes in
perubahan kerugian penurunan nilai tersebut di reserves of changes in these impairment losses in
masa mendatang. the future.
Evaluasi cadangan kerugian penurunan nilai secara Allowance for impairment losses that collectively
kolektif mencakup kerugian kredit yang melekat assessed includes inherent credit losses in financing
pada portofolio piutang pembiayaan dengan receivables portfolios with similar credit risk
karakteristik risiko kredit yang sejenis ketika characteristics when objective evidence
terdapat bukti objektif bahwa telah terjadi of impairment exist for those portfolios. In
penurunan nilai piutang dalam portofolio tersebut. assessing the need for collective allowances for
Dalam menentukan perlunya untuk membentuk impairment losses, management considers factors
cadangan kerugian penurunan nilai secara kolektif, such as credit quality, portfolio size, credit
manajemen mempertimbangkan faktor-faktor concentrations, and economic factors.
seperti kualitas kredit, besarnya portofolio,
konsentrasi kredit, dan faktor-faktor ekonomi.
Dalam mengestimasi cadangan yang dibutuhkan, In order to estimate the required allowance,
asumsi-asumsi dibuat untuk menentukan model assumptions are made to define the way inherent
kerugian bawaan dan untuk menentukan parameter losses are modeled and to determine the required
input yang diperlukan, berdasarkan pengalaman input parameters, based on historical experience
historis dan keadaan ekonomi saat ini. Ketepatan and current economic conditions. The accuracy of
dari cadangan ini bergantung pada asumsi model dan the allowances depends on the model assumptions
parameter yang digunakan dalam penentuan and parameters used in determining collective
cadangan kolektif. Penjelasan lebih rinci allowances. Further details are shown in Note 5.
diungkapkan dalam Catatan 5.
(iii) Estimasi umur manfaat aset tetap dan aset (iii) Useful life estimate for fixed assets and
takberwujud intangible assets
Perusahaan dan Entitas Anaknya melakukan The Company and Its Subsidiary review periodically
penelahaan berkala atas masa manfaat ekonomis the estimated useful life of fixed assets based on
aset tetap berdasarkan faktor-faktor seperti kondisi factors such as technical specification and future
teknis dan perkembangan teknologi di masa depan. technological developments. Future results of
Hasil operasi di masa depan akan dipengaruhi secara operations could be materially affected by changes
material atas perubahan estimasi ini yang in these estimates brought about by changes in the
diakibatkan oleh perubahan faktor yang telah factors mentioned. See Note 10 for the carrying
disebutkan di atas. Lihat Catatan 10 untuk jumlah amount of fixed assets.
tercatat aset tetap.
298 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 299
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/39 Exhibit E/39
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
3. PENGGUNAAN ESTIMASI DAN PERTIMBANGAN (Lanjutan) 3. USE OF ESTIMATES AND JUDGEMENTS (Continued)
Pertimbangan Akuntansi yang Penting, Estimasi dan Asumsi Significant Accounting Judgements, Estimates and
(Lanjutan) Assumptions (Continued)
II. Estimasi dan Asumsi (Lanjutan) II. Estimates and Assumptions (Continued)
(iv) Imbalan pasca-kerja (iv) Post-employment benefits
Nilai kini liabilitas imbalan pasca-kerja tergantung The present value of the post-employment benefits
pada beberapa faktor yang ditentukan dengan dasar obligations liabilities depends on a number of
aktuarial berdasarkan beberapa asumsi. Asumsi yang factors that are determined on an actuarial basis
digunakan untuk menentukan biaya (penghasilan) using a number of assumptions. The assumptions
liabilitas imbalan pasca-kerja neto mencakup used in determining the net cost (income) for post-
tingkat diskonto, tingkat kenaikan gaji di masa employment benefits liabilities include the
datang, tingkat pengunduran diri, tingkat discount rate, salary increment rate, resignation
kecacatan, usia pensiun dan tingkat kematian. rate, disability rate, retirement age and mortality
Perubahan atas asumsi-asumsi ini akan rate. Any changes in these assumptions will impact
mempengaruhi jumlah tercatat liabilitas imbalan the carrying amount of post-employment benefits
pasca-kerja. liabilities.
Perusahaan dan Entitas Anaknya menentukan The Company and Its Subsidiary determine the
tingkat diskonto yang sesuai pada akhir periode appropriate discount rate at the end of each
pelaporan. Ini merupakan tingkat suku bunga yang reporting period. This is the interest rate that
harus digunakan untuk menentukan nilai kini atas should be used to determine the present value of
estimasi arus kas keluar masa depan yang estimated future cash outflows expected to be
diharapkan untuk menyelesaikan liabilitas imbalan required to settle the post-employment benefits
pasca-kerja. Dalam menentukan tingkat suku bunga liabilities. In determining the appropriate discount
yang sesuai, Perusahaan mempertimbangkan tingkat rate, the Company considers the interest rates of
suku bunga obligasi pemerintah yang government bonds that are denominated in the
didenominasikan dalam mata uang imbalan akan currency in which the benefits will be paid and that
dibayar dan memiliki jangka waktu yang serupa have terms to maturity approximating the terms of
dengan jangka waktu liabilitas imbalan pasca-kerja the related post-employment benefit liabilities.
yang terkait.
Asumsi kunci liabilitas imbalan pasca-kerja lainnya Other key assumptions for post-employment
sebagian ditentukan berdasarkan kondisi pasar saat benefit liabilities are based in part on current
ini. Penjelasan lebih rinci diungkapkan dalam market conditions. Further details are shown in
Catatan 17. Note 17.
(v) Program kompensasi manajemen dan karyawan (v) Management and employees stock option
berbasis saham program
Perusahaan dan Entitas Anaknya mengukur biaya The Company and Its Subsidiary measure the cost
equity-settled transactions karyawan dengan of equity-settled transactions with employees by
mengacu pada nilai wajar instrumen ekuitas pada reference to the fair value of the equity
tanggal diberikan. Estimasi nilai wajar untuk instruments at the date at which they are granted.
pembayaran berbasis saham untuk menentukan Estimating fair value for share-based payment
model penilaian yang paling sesuai, tergantung pada transactions requires determining the most
persyaratan dan kondisi pemberian. Estimasi ini juga appropriate valuation model, which is dependent
mengharuskan menentukan input yang paling tepat on the terms and conditions of the grant. This
untuk valuasi model termasuk masa manfaat yang estimate also requires determining the most
diharapkan dari opsi saham, volatilitas dan dividend appropriate inputs to the valuation model
yield dan membuat asumsi yang digunakan. including the expected life of the share option,
volatility and dividend yield and making
assumptions about them.
(vi) Pajak penghasilan (vi) Income tax
Pertimbangan signifikan dilakukan dalam Significant judgement is involved in determining
menentukan provisi atas pajak penghasilan provision for corporate income tax. There are
badan. Terdapat transaksi dan perhitungan tertentu certain transaction and computation for which the
yang penentuan pajak akhirnya adalah tidak pasti ultimate tax determination is uncertain during the
sepanjang kegiatan usaha normal. Perusahaan dan ordinary course of business. The Company and Its
Entitas Anaknya mengakui liabilitas atas pajak Subsidiary recognize liabilities for expected
penghasilan badan berdasarkan estimasi apakah corporate income tax issues based on estimates of
terdapat tambahan pajak penghasilan badan. whether additional corporate income tax will be
Penjelasan lebih rinci diungkapkan dalam Catatan due. Further details are shown in Note 14b.
14b.
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 299
Page 300
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/40 Exhibit E/40
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
3. PENGGUNAAN ESTIMASI DAN PERTIMBANGAN (Lanjutan) 3. USE OF ESTIMATES AND JUDGEMENTS (Continued)
Pertimbangan Akuntansi yang Penting, Estimasi dan Asumsi Significant Accounting Judgements, Estimates and
(Lanjutan) Assumptions (Continued)
II. Estimasi dan Asumsi (Lanjutan) II. Estimates and Assumptions (Continued)
(vii) Aset pajak tangguhan (vii) Deferred tax assets
Aset pajak tangguhan diakui atas seluruh perbedaan Deferred tax assets are recognized for all
temporer yang dapat dikurangkan, sepanjang besar deductible temporary differences, to the extent
kemungkinannya bahwa penghasilan kena pajak that it is probable that taxable profit will be
akan tersedia sehingga perbedaan temporer available against which the deductible temporary
tersebut dapat digunakan. differences.
Justifikasi manajemen diperlukan untuk Management judgement is required to determine
menentukan jumlah aset pajak tangguhan yang the amount of deferred tax assets that can be
dapat diakui, sesuai dengan waktu yang tepat dan recognized, based upon the likely timing on level
tingkat laba fiscal di masa mendatang sejalan of future taxable profits together with future
dengan strategi rencana perpajakan ke depan. strategic tax planning. Further details are shown
Penjelasan lebih rinci diungkapkan dalam Catatan in Note 14c.
14c.
4. KAS DAN SETARA KAS 4. CASH AND CASH EQUIVALENTS
Kas dan setara kas terdiri dari: Cash and cash equivalents consist of the followings:
31 Desember/December
2024 2023
Kas – Rupiah 3.021 11.889 Cash on hand - Rupiah
Bank – Rupiah Cash in banks - Rupiah
Pihak ketiga Third parties
PT Bank Tabungan Negara Tbk (UU Syariah) 250.000 150.000 PT Bank Tabungan Negara Tbk (UU Syariah)
PT Bank KB Bukopin Syariah 150.931 - PT Bank KB Bukopin Syariah
PT Bank Mandiri (Persero) Tbk 110.712 131.780 PT Bank Mandiri (Persero) Tbk
PT Bank Rakyat Indonesia (Persero) Tbk 101.992 72.663 PT Bank Rakyat Indonesia (Persero) Tbk
PT Bank Jabar Banten Syariah 90.580 3.050 PT Bank Jabar Banten Syariah
PT Bank Victoria International Tbk 50.263 264.593 PT Bank Victoria International Tbk
PT Bank Tabungan Negara (Persero) Tbk 50.020 30.452 PT Bank Tabungan Negara (Persero) Tbk
PT Bank Central Asia Tbk 29.014 56.870 PT Bank Central Asia Tbk
PT Bank Syariah Indonesia Tbk 25.648 10.692 PT Bank Syariah Indonesia Tbk
Standard Chartered Bank, Standard Chartered Bank,
Cabang Jakarta 11.564 10.256 Jakarta Branch
PT Bank Pembangunan Daerah PT Bank Pembangunan Daerah
Jawa Barat dan Banten Tbk 10.030 100.576 Jawa Barat dan Banten Tbk
PT Bank CIMB Niaga Tbk 8.659 36.801 PT Bank CIMB Niaga Tbk
PT Bank Negara Indonesia (Persero) Tbk 8.379 15.752 PT Bank Negara Indonesia (Persero) Tbk
PT Bank Permata Tbk 1.706 1.810 PT Bank Permata Tbk
Lain-lain (saldo di bawah Rp 1.000) 185 275 Others (balance below Rp 1,000)
Pihak berelasi Related party
PT Bank Jago Tbk 70 174 PT Bank Jago Tbk
Jumlah bank 899.753 885.744 Total cash in banks
Jumlah kas dan bank 902.774 897.633 Total cash on hand and in banks
300 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 301
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/41 Exhibit E/41
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
4. KAS DAN SETARA KAS (Lanjutan) 4. CASH AND CASH EQUIVALENTS (Continued)
Kas dan setara kas terdiri dari: (Lanjutan) Cash and cash equivalents consist of the followings:
(Continued)
31 Desember/December
2024 2023
Deposito berjangka - Rupiah Time deposits - Rupiah
Pihak ketiga Third parties
PT Bank KB Bukopin Syariah 252.169 302.624 PT Bank KB Bukopin Syariah
PT Bank Victoria International Tbk 200.000 - PT Bank Victoria International Tbk
PT Bank Sahabat Sampoerna 100.000 100.000 PT Bank Sahabat Sampoerna
PT Allo Bank Indonesia Tbk 100.000 100.000 PT Allo Bank Indonesia Tbk
PT Bank Ina Perdana Tbk 51.055 2.015 PT Bank Ina Perdana Tbk
PT Bank Mandiri (Persero) Tbk 1.000 5.132 PT Bank Mandiri (Persero) Tbk
PT Bank Rakyat Indonesia (Persero) Tbk 357 348 PT Bank Rakyat Indonesia (Persero) Tbk
PT Bank Mega Tbk - 170.000 PT Bank Mega Tbk
PT Bank Mandiri Taspen - 102.078 PT Bank Mandiri Taspen
PT Bank Panin Syariah Tbk - 50.000 PT Bank Panin Syariah Tbk
PT Bank BTPN Syariah Tbk - 5.658 PT Bank BTPN Syariah Tbk
Pihak berelasi Related party
PT Bank Jago Tbk 6.771 4.171 PT Bank Jago Tbk
Jumlah deposito berjangka 711.352 842.026 Total time deposits
Jumlah kas dan setara kas 1.614.126 1.739.659 Total cash and cash equivalents
Kisaran tingkat suku bunga deposito berjangka di atas adalah 6The range of the interest rates from the above time
sebagai berikut: deposits are as follows:
31 Desember/December
2024 2023
Tingkat bunga deposito Time deposit interest rate
berjangka per tahun per annum
Rupiah 6,00% - 7,00% 5,00% - 7,00% Rupiah
Rincian kontrak deposito Perusahaan dan Entitas Anaknya The details of the deposit contract of the Company and Its
berdasarkan periode jatuh temponya adalah sebagai berikut: Subsidiary based on the maturity period are as follows:
31 Desember/December
2024 2023
Deposito berjangka 711.352 842.026 Time deposits
Dikurangi : Less:
Periode jatuh tempo di bawah tiga bulan (711.352) (842.026) Due date period under three months
Periode jatuh tempo di atas tiga bulan - - Due date period over three months
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 301
Page 302
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/42 Exhibit E/42
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
5. PIUTANG PEMBIAYAAN 5. FINANCING RECEIVABLES
31 Desember/December
2024 2023
Piutang pembiayaan konvensional 29.700.549 26.934.603 Conventional financing receivables
Piutang pembiayaan murabahah 872.863 728.736 Murabahah financing receivables
Jumlah piutang pembiayaan - bruto 30.573.412 27.663.339 Total financing receivables - gross
Rincian piutang pembiayaan adalah sebagai berikut: The details of financing receivables are as follows:
31 Desember/December
2024 2023
Piutang pembiayaan – bruto 30.573.412 27.663.339 Financing receivables – gross
Pendapatan pembiayaan yang
belum diakui (6.567.670) (5.684.065) Unearned financing income
Biaya transaksi yang belum diamortisasi 40.541 (20.933) Unamortized transaction costs
24.046.283 21.958.341
Pembiayaan bersama dan penerusan Joint financing and
pinjaman – neto (1.218.865) (487.828) channeling – net
22.827.418 21.470.513
Dikurangi : cadangan kerugian Less : allowance for
penurunan nilai (814.604) (764.120 ) impairment losses
Jumlah piutang pembiayaan - neto 22.012.814 20.706.393 Total financing receivables - net
Angsuran piutang pembiayaan – bruto, yang akan diterima The installments of financing receivables - gross, which will
dari konsumen sesuai dengan tanggal jatuh temponya adalah be collected from consumers in accordance with the due
sebagai berikut: dates are as follows:
31 Desember/December
2024 2023
<= 1 tahun 15.355.205 14.319.041 <= 1 year
1 – 2 tahun 8.787.764 8.155.369 1 – 2 years
> 2 tahun 6.430.443 5.188.929 > 2 years
Jumlah 30.573.412 27.663.339 Total
302 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 303
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/43 Exhibit E/43
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
5. PIUTANG PEMBIAYAAN (Lanjutan) 5. FINANCING RECEIVABLES (Continued)
Pengelompokan piutang pembiayaan - bruto menurut jumlah The classification of financing receivables - gross based on
hari tunggakan adalah sebagai berikut: days overdue are as follows:
31 Desember/December
31 Desember/December 2024 2023
2024 2023 % %
Belum jatuh tempo 25.138.952 22.467.058 82,23 81,22 Current
Lewat jatuh tempo: Past due:
1-30 hari 4.514.059 4.294.764 14,76 15,52 1-30 days
31-90 hari 620.787 601.608 2,03 2,17 31-90 days
91-120 hari 105.739 88.177 0,35 0,32 91-120 days
121-180 hari 137.509 151.538 0,45 0,55 121-180 days
> 180 hari 56.366 60.194 0,18 0,22 > 180 days
Jumlah 30.573.412 27.663.339 100,00 100,00 Total
Tabel berikut menunjukkan perubahan nilai tercatat piutang The following tables show movement of carrying amount of
pembiayaan selama tahun berjalan: receivables during the year:
31 Desember/December 2024
Tahap 1/ Tahap 2/ Tahap 3/ Jumlah/
Stage 1 Stage 2 Stage 3 Total
Saldo awal 21.156.309 502.122 299.910 21.958.341 Beginning balance
Pergerakan antar tahap : Interstage movement:
- Pindah ke tahap 1 54.843 (50.676) (4.167) - Transfer to stage 1 -
- Pindah ke tahap 2 (441.261) 443.299 (2.038) - Transfer to stage 2 -
- Pindah ke tahap 3 (252.174) (18.070) 270.244 - Transfer to stage 3 -
Aset keuangan yang telah Financial assets that have
dilunasi, perubahan pada been repaid, changes in
biaya transaksi dan piutang transaction cost and
bunga pembiayaan (13.007.419) (567.974) 420.213 (13.155.180) financing interest receivable
Aset keuangan yang baru New financial assets
diperoleh 15.725.389 202.281 110.753 16.038.423 originated
Penghapusan - - (795.301) (795.301) Written-off
Saldo akhir 23.235.687 510.982 299.614 24.046.283 Ending balance
31 Desember/December 2023
Tahap 1/ Tahap 2/ Tahap 3/ Jumlah/
Stage 1 Stage 2 Stage 3 Total
Saldo awal 19.937.885 346.723 205.200 20.489.808 Beginning balance
Pergerakan antar tahap : Interstage movement:
- Pindah ke tahap 1 33.847 (32.477) (1.370) - Transfer to stage 1 -
- Pindah ke tahap 2 (377.326) 378.062 (736) - Transfer to stage 2 -
- Pindah ke tahap 3 (213.565) (10.421) 223.986 - Transfer to stage 3 -
Aset keuangan yang telah Financial assets that have
dilunasi, perubahan pada been repaid, changes in
biaya transaksi dan piutang transaction cost and
bunga pembiayaan (12.494.602) (429.584) 583.404 (12.340.782) financing interest receivable
Aset keuangan yang baru New financial assets
diperoleh 14.270.070 249.819 143.775 14.663.664 originated
Penghapusan - - (854.349) (854.349) Written-off
Saldo akhir 21.156.309 502.122 299.910 21.958.341 Ending balance
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 303
Page 304
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/44 Exhibit E/44
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
5. PIUTANG PEMBIAYAAN (Lanjutan) 5. FINANCING RECEIVABLES (Continued)
Tabel berikut menunjukkan perubahan cadangan kerugian The following tables show movement of the allowance for
penurunan nilai piutang pembiayaan selama tahun berjalan: impairment losses of financing receivables during the year:
31 Desember/December 2024
Tahap 1/ Tahap 2/ Tahap 3/ Jumlah/
Stage 1 Stage 2 Stage 3 Total
Saldo awal 392.270 104.798 267.052 764.120 Beginning balance
Pergerakan antar tahap : Interstage movement:
- Pindah ke tahap 1 13.489 (9.947) (3.542) - Transfer to stage 1 -
- Pindah ke tahap 2 (11.855) 13.694 (1.839) - Transfer to stage 2 -
- Pindah ke tahap 3 (6.851) (3.559) 10.410 - Transfer to stage 3 -
Aset keuangan yang telah dilunasi Financial assets that have been
dan pengukuran kembali repaid and remeasurement
penurunan nilai – neto (231.883) (24.451) 679.379 423.045 of loss impairment - net
Aset keuangan yang baru New financial assets
diperoleh 276.076 53.052 93.612 422.740 originated
Penghapusan - - (795.301) (795.301) Written-off
Saldo akhir 431.246 133.587 249.771 814.604 Ending balance
31 Desember/December 2023
Tahap 1/ Tahap 2/ Tahap 3/ Jumlah/
Stage 1 Stage 2 Stage 3 Total
Saldo awal 623.311 82.102 128.022 833.435 Beginning balance
Pergerakan antar tahap : Interstage movement:
- Pindah ke tahap 1 7.485 (6.625) (860) - Transfer to stage 1 -
- Pindah ke tahap 2 (15.250) 15.680 (430) - Transfer to stage 2 -
- Pindah ke tahap 3 (8.872) (3.798) 12.670 - Transfer to stage 3 -
Aset keuangan yang telah dilunasi Financial assets that have been
dan pengukuran kembali repaid and remeasurement
penurunan nilai – neto (468.794) (36.165) 853.722 348.763 of loss impairment - net
Aset keuangan yang baru New financial assets
diperoleh 254.390 53.604 128.277 436.271 originated
Penghapusan - - (854.349) (854.349) Written-off
Saldo akhir 392.270 104.798 267.052 764.120 Ending balance
Mutasi cadangan kerugian penurunan nilai piutang The movements in the allowance for impairment losses of
pembiayaan berdasarkan penilaian secara individual dan financing receivables based on individual and collective
kolektif adalah sebagai berikut: assessments are as follows:
31 Desember/December 2024
Individual/ Kolektif/ Jumlah/
Individual Collective Total
Saldo awal - 764.120 764.120 Beginning balance
Penambahan cadangan Additions to allowance
selama tahun berjalan – neto 85.979 759.806 845.785 during the year – net
Penghapusan (25.108) (770.193) (795.301) Written-off
Saldo akhir 60.871 753.733 814.604 Ending balance
304 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 305
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/45 Exhibit E/45
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
5. PIUTANG PEMBIAYAAN (Lanjutan) 5. FINANCING RECEIVABLES (Continued)
Mutasi cadangan kerugian penurunan nilai piutang The movements in the allowance for impairment losses of
pembiayaan berdasarkan penilaian secara individual dan financing receivables based on individual and collective
kolektif adalah sebagai berikut: (Lanjutan) assessments are as follows: (Continued)
31 Desember/December 2023
Individual/ Kolektif/ Jumlah/
Individual Collective Total
Saldo awal 159.028 674.407 833.435 Beginning balance
Penambahan (pemulihan) cadangan Additions (recovery) to allowance
selama tahun berjalan – neto (159.028) 944.062 785.034 during the year – net
Penghapusan - (854.349) (854.349) Written-off
Saldo akhir - 764.120 764.120 Ending balance
a. Piutang pembiayaan berdasarkan tujuan pembiayaan a. Financing receivables based on purpose of financing
31 Desember/December 2024
Syariah/
Konvensional/Conventional Sharia
Modal
Kerja/ Multiguna/ Sub-
Investasi/ Working Multi- jumlah/ Jumlah/
Investment Capital purpose Sub-total Murabahah Total
Piutang pembiayaan Financing receivables
- bruto 6.196.015 17.625.650 5.878.884 29.700.549 872.863 30.573.412 - gross
Pendapatan
pembiayaan Unearned financing
yang belum diakui (1.125.044) (3.795.644) (1.410.360) (6.331.048) (236.622) (6.567.670) income
Biaya transaksi yang Unamortized
belum diamortisasi (18.960) (11.253) 46.793 16.580 23.961 40.541 transaction cost
5.052.011 13.818.753 4.515.317 23.386.081 660.202 24.046.283
Pembiayaan bersama Joint financing
dan penerusan and channeling -
pinjaman - neto (62.320) (1.081.611) (74.934) (1.218.865) - (1.218.865) net
4.989.691 12.737.142 4.440.383 22.167.216 660.202 22.827.418
Cadangan kerugian Allowance for
penurunan nilai (158.086) (422.201) (211.933) (792.220) (22.384) (814.604) impairment losses
Jumlah piutang
pembiayaan - Total financing
neto 4.831.605 12.314.941 4.228.450 21.374.996 637.818 22.012.814 receivables - net
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 305
Page 306
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/46 Exhibit E/46
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
5. PIUTANG PEMBIAYAAN (Lanjutan) 5. FINANCING RECEIVABLES (Continued)
a. Piutang pembiayaan berdasarkan tujuan pembiayaan a. Financing receivables based on purpose of financing
(Lanjutan) (Continued)
31 Desember/December 2023
Syariah/
Konvensional/Conventional Sharia
Modal
Kerja/ Multiguna/ Sub-
Investasi/ Working Multi- jumlah/ Jumlah/
Investment Capital purpose Sub-total Murabahah Total
Piutang pembiayaan Financing receivables
- bruto 5.371.843 16.380.716 5.182.044 26.934.603 728.736 27.663.339 - gross
Pendapatan
pembiayaan Unearned financing
yang belum diakui (919.333) (3.411.412) (1.157.816) (5.488.561) (195.504) (5.684.065) income
Biaya transaksi yang Unamortized
belum diamortisasi (21.179) (39.947) 21.615 (39.511) 18.578 (20.933) transaction cost
4.431.331 12.929.357 4.045.843 21.406.531 551.810 21.958.341
Pembiayaan bersama Joint financing
dan penerusan and channeling -
pinjaman - neto (4.095) (445.933) (37.800) (487.828) - (487.828) net
4.427.236 12.483.424 4.008.043 20.918.703 551.810 21.470.513
Cadangan kerugian Allowance for
penurunan nilai (115.243) (429.080) (203.028) (747.351) (16.769) (764.120) impairment losses
Jumlah piutang
pembiayaan - Total financing
neto 4.311.993 12.054.344 3.805.015 20.171.352 535.041 20.706.393 receivables - net
Pembiayaan investasi diberikan untuk pembiayaan barang Investment financing were extended to finance capital
modal beserta jasa yang diperlukan untuk aktivitas goods and services needed for business/investment
usaha/investasi. activities.
Pembiayaan modal kerja diberikan untuk memenuhi Working capital financing were extended for working
kebutuhan pengeluaran yang habis dalam satu siklus capital needs which fully utilized within one cycle of
aktivitas usaha. business activities.
Kegiatan pembiayaan investasi dan modal kerja ditujukan Investment and working capital financing activities
untuk debitur yang : were intended to borrowers which :
a. memiliki usaha produktif; dan/atau a. have productive businesses; and/or
b. memiliki ide untuk pengembangan usaha produktif. b. have ideas to develop the productive business.
Pembiayaan multiguna diberikan untuk pembiayaan Multipurpose financing were extended for financing of
barang dan/atau jasa untuk pemakaian/konsumsi dan goods/services for consumption and non-business
bukan untuk keperluan usaha atau aktivitas produktif. related or productive activities.
306 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 307
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/47 Exhibit E/47
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
5. PIUTANG PEMBIAYAAN (Lanjutan) 5. FINANCING RECEIVABLES (Continued)
b. Piutang pembiayaan berdasarkan jenis pengikatan b. Financing receivables based on type of contract
31 Desember/December 2024
Pembiayaan Pembiayaan
Sewa konsumen/ Murabahah/
pembiayaan/ Consumer Murabahah Jumlah/
Finance lease financing financing Total
Piutang pembiayaan - Financing receivables -
bruto 20.176.373 9.524.176 872.863 30.573.412 gross
Pendapatan pembiayaan Unearned financing
yang belum diakui (4.028.351) (2.302.697) (236.622) (6.567.670) income
Biaya transaksi yang Unamortized
belum diamortisasi (35.313) 51.893 23.961 40.541 transaction cost
16.112.709 7.273.372 660.202 24.046.283
Pembiayaan bersama
dan penerusan Joint financing
pinjaman – neto (1.057.176) (161.689) - (1.218.865) and channeling - net
15.055.533 7.111.683 660.202 22.827.418
Cadangan kerugian Allowance for
penurunan nilai (459.866) (332.354) (22.384) (814.604) impairment losses
Jumlah piutang Total financing
pembiayaan – neto 14.595.667 6.779.329 637.818 22.012.814 receivables – net
31 Desember/December 2023
Pembiayaan Pembiayaan
Sewa konsumen/ Murabahah/
pembiayaan/ Consumer Murabahah Jumlah/
Finance lease financing financing Total
Piutang pembiayaan - Financing receivables -
bruto 18.730.616 8.203.987 728.736 27.663.339 gross
Pendapatan pembiayaan Unearned financing
yang belum diakui (3.661.404) (1.827.157) (195.504) (5.684.065) income
Biaya transaksi yang Unamortized
belum diamortisasi (63.342) 23.831 18.578 (20.933) transaction cost
15.005.870 6.400.661 551.810 21.958.341
Pembiayaan bersama
dan penerusan Joint financing
pinjaman – neto (442.680 ) (45.148) - (487.828) and channeling - net
14.563.190 6.355.513 551.810 21.470.513
Cadangan kerugian Allowance for
penurunan nilai (467.932) (279.419) (16.769) (764.120) impairment losses
Jumlah piutang Total financing
pembiayaan – neto 14.095.258 6.076.094 535.041 20.706.393 receivables – net
Informasi pokok lainnya sehubungan dengan piutang Other significant information relating to financing
pembiayaan adalah sebagai berikut: receivables is as follows:
Persentase cadangan kerugian penurunan nilai terhadap Percentage of the allowance for impairment losses
jumlah piutang pembiayaan sebesar 3,57% dan 3,56% masing- to financing receivables was 3.57% and 3.56% as of
masing pada tanggal 31 Desember 2024 dan 2023. 31 December 2024 and 2023, respectively.
Manajemen berkeyakinan bahwa cadangan kerugian penurunan The management believes that the allowance for
nilai yang dibentuk memadai untuk menutup kerugian yang impairment losses was sufficient to cover possible losses
mungkin timbul akibat tidak tertagihnya piutang pembiayaan arising from uncollectible financing receivables.
tersebut.
Seluruh transaksi pembiayaan dilakukan dengan pihak ketiga. All of the Company’s financing transactions are entered
with third parties.
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 307
Page 308
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/48 Exhibit E/48
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
5. PIUTANG PEMBIAYAAN (Lanjutan) 5. FINANCING RECEIVABLES (Continued)
Jangka waktu kontrak pembiayaan yang disalurkan oleh The period of financing installment contract for vehicle and
Perusahaan atas kendaraan bermotor dan alat-alat berat heavy equipment ranged from 6–60 months, and for housing
berkisar antara 6–60 bulan, serta perumahan (KPR) berkisar ranges between 12-84 months.
12-84 bulan.
Rincian bunga kontraktual dan marjin syariah per tahun untuk The detail of contractual interest and sharia margin rates per
piutang pembiayaan adalah sebagai berikut: annum on financing receivables are as follows:
31 Desember/December
2024 2023
% %
Mobil 15 - 20 15 - 20 Cars
Sepeda motor 35 - 40 35 - 40 Motorcycles
Properti 17 - 20 17 - 20 Property
Alat berat dan mesin 9 - 16 9 - 16 Heavy equipment and machinery
Channeling 16 - 28 16 - 28 Channeling
Syariah 17 - 25 17 - 25 Sharia
Sebagai jaminan atas piutang pembiayaan yang diberikan, As the collateral to the financing receivables, the Company
Perusahaan menerima jaminan dari konsumen berupa Buku receives the Book of Vehicle Ownership (BPKB), Proprietary
Pemilik Kendaraan Bermotor (BPKB), Sertifikat Hak Milik Certificate (SHM) and Property Use Right Certificate (SHGB)
(SHM) dan Sertifikat Hak Guna Bangunan (SHGB) atas of the vehicles and property (building) financed by the
kendaraan bermotor dan properti (bangunan) yang dibiayai Company and purchase invoices of the motor vehicles/heavy
Perusahaan dan faktur atas kendaraan bermotor/alat equipment/collateral asset financed by the Company.
berat/obyek jaminan yang dibiayai oleh Perusahaan.
Piutang pembiayaan pada tanggal 31 Desember 2024 dan 2023 Financing receivable as of 31 December 2024 and 2023
masing-masing sebesar Rp 7.403.146 dan Rp 6.932.406 amounting to Rp 7,403,146 and Rp 6,932,406 were used as
digunakan sebagai jaminan atas pinjaman yang diterima collateral to borrowings (Note 13) and amounting to
(Catatan 13) dan sebesar Rp 1.171.702 dan Rp 2.365.225 Rp 1,171,702 and Rp 2,365,225 were used as collateral to
digunakan sebagai jaminan surat berharga yang diterbitkan securities issued, respectively (Note 15).
(Catatan 15).
Channeling adalah platform layanan teknologi peer-to-peer Channeling is a peer-to-peer lending platform with
milik FIT, entitas anak. technology services owns by FIT, a subsidiary.
Perusahaan bekerjasama dengan beberapa perusahaan The Company engages several insurance companies to provide
asuransi untuk memberikan perlindungan risiko terhadap aset risk protection for assets and financing provided by the
dan pembiayaan yang diberikan Perusahaan, terutama Company, mainly PT Asuransi Bina Dana Arta Tbk, PT Asuransi
PT Asuransi Bina Dana Arta Tbk, PT Asuransi Sinar Mas, Sinar Mas, PT Asuransi Wahana Tata, PT Asuransi Astra Buana,
PT Asuransi Wahana Tata, PT Asuransi Astra Buana, PT Asuransi Raksa Pratikara, PT Asuransi FPG Indonesia,
PT Asuransi Raksa Pratikara, PT Asuransi FPG Indonesia, PT Asuransi Etiqa Internasional Indonesia, PT Pan Pasific
PT Asuransi Etiqa Internasional Indonesia, PT Pan Pasific Insurance, PT FWD Insurance Indonesia and PT Chubb Life
Insurance, PT FWD Insurance Indonesia dan PT Chubb Life Insurance Indonesia. All insurance companies that the
Insurance Indonesia. Seluruh perusahaan asuransi yang engaged by the Company are third parties.
bekerjasama dengan Perusahaan adalah pihak ketiga.
308 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 309
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/49 Exhibit E/49
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
6. PIUTANG IJARAH DAN IMBT 6. IJARAH AND IMBT RECEIVABLES
31 Desember/December
2024 2023
Piutang ijarah 141 68 Ijarah receivables
Piutang Ijarah Muntahiyah Bittamlik (IMBT) 6.979 3.592 Ijarah Muntahiyah Bittamlik (IMBT) receivables
Jumlah 7.120 3.660 Total
Dikurangi: cadangan kerugian penurunan nilai (469) (92) Less: allowance for impairment losses
Neto 6.651 3.568 Net
Aset ijarah 2.362 2.273 Ijarah assets
Dikurangi: Less:
Akumulasi penyusutan (495) (1.456) Accumulated depreciation
Cadangan kerugian penurunan nilai (19) (13) Allowance for impairment losses
Sub – Jumlah 1.848 804 Sub - Total
Aset IMBT 112.816 59.606 IMBT assets
Dikurangi: Less:
Akumulasi penyusutan (35.194) (10.267) Accumulated depreciation
Cadangan kerugian penurunan nilai (2.524) (942) Allowance for impairment losses
Sub – Jumlah 75.098 48.397 Sub - Total
Jumlah piutang ijarah dan IMBT - neto 83.597 52.769 Total ijarah and IMBT receivables - net
Aset ijarah terdiri dari pembiayaan umroh, pendidikan, Ijarah assets consist of financing for umrah, education,
kebutuhan multijasa dan wisata halal. multiservices needs and halal tourism.
Penyusutan dan kerugian penurunan nilai dibebankan pada Depreciation and impairment losses was charged to the
laporan laba rugi dan penghasilan komprehensif lain consolidated statements of profit or loss and other
konsolidasian. comprehensive income.
Tabel berikut menunjukkan perubahan nilai tercatat piutang The following tables show movement of carrying amount of
ijarah dan IMBT selama tahun berjalan: Ijarah and IMBT receivables during the year:
31 Desember/December 2024
Tahap 1/ Tahap 2/ Tahap 3/ Jumlah/
Stage 1 Stage 2 Stage 3 Total
Saldo awal 53.132 547 137 53.816 Beginning balance
Pergerakan antar tahap : Interstage movement:
- Pindah ke tahap 1 - - - - Transfer to stage 1 -
- Pindah ke tahap 2 (1.867) 1.867 - - Transfer to stage 2 -
- Pindah ke tahap 3 (603) - 603 - Transfer to stage 3 -
Aset keuangan yang telah Financial assets that have
dilunasi, perubahan pada been repaid, changes in
biaya transaksi dan piutang transaction cost and
marjin pembiayaan (28.076) (1.093) 2.316 (26.853) financing margin receivable
Aset keuangan yang baru New financial assets
diperoleh 60.950 835 447 62.232 originated
Penghapusan - - (2.586) (2.586) Written-off
Saldo akhir 83.536 2.156 917 86.609 Ending balance
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 309
Page 310
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/50 Exhibit E/50
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
6. PIUTANG IJARAH DAN IMBT (Lanjutan) 6. IJARAH AND IMBT RECEIVABLES (Continued)
Tabel berikut menunjukkan perubahan nilai tercatat piutang The following tables show movement of carrying amount of
ijarah dan IMBT selama tahun berjalan: (Lanjutan) Ijarah and IMBT receivables during the year: (Continued)
31 Desember/December 2023
Tahap 1/ Tahap 2/ Tahap 3/ Jumlah/
Stage 1 Stage 2 Stage 3 Total
Saldo awal 7.711 237 148 8.096 Beginning balance
Pergerakan antar tahap : Interstage movement:
- Pindah ke tahap 1 - - - - Transfer to stage 1 -
- Pindah ke tahap 2 - - - - Transfer to stage 2 -
- Pindah ke tahap 3 (174) - 174 - Transfer to stage 3 -
Aset keuangan yang telah Financial assets that have
dilunasi, perubahan pada been repaid, changes in
biaya transaksi dan piutang transaction cost and
marjin pembiayaan (4.573) (237) 112 (4.698) financing margin receivable
Aset keuangan yang baru New financial assets
diperoleh 50.168 547 - 50.715 originated
Penghapusan - - (297) (297) Written-off
Saldo akhir 53.132 547 137 53.816 Ending balance
Tabel berikut menunjukkan perubahan cadangan kerugian The following tables show movement of the allowance for
penurunan nilai piutang ijarah dan IMBT selama tahun berjalan: impairment losses of ijarah and IMBT receivables during the
year:
31 Desember/December 2024
Tahap 1/ Tahap 2/ Tahap 3/ Jumlah/
Stage 1 Stage 2 Stage 3 Total
Saldo awal 712 198 137 1.047 Beginning balance
Pergerakan antar tahap : Interstage movement:
- Pindah ke tahap 1 - - - - Transfer to stage 1 -
- Pindah ke tahap 2 (25) 25 - - Transfer to stage 2 -
- Pindah ke tahap 3 (6) - 6 - Transfer to stage 3 -
Aset keuangan yang telah dilunasi Financial assets that have been
dan pengukuran kembali repaid and remeasurement
penurunan nilai – neto (190) 143 2.913 2.866 of loss impairment - net
Aset keuangan yang baru New financial assets
diperoleh 992 246 447 1.685 originated
Penghapusan - - (2.586) (2.586) Written-off
Saldo akhir 1.483 612 917 3.012 Ending balance
31 Desember/December 2023
Tahap 1/ Tahap 2/ Tahap 3/ Jumlah/
Stage 1 Stage 2 Stage 3 Total
Saldo awal 121 60 148 329 Beginning balance
Pergerakan antar tahap : Interstage movement:
- Pindah ke tahap 1 - - - - Transfer to stage 1 -
- Pindah ke tahap 2 - - - - Transfer to stage 2 -
- Pindah ke tahap 3 (3) - 3 - Transfer to stage 3 -
Aset keuangan yang telah dilunasi Financial assets that have been
dan pengukuran kembali repaid and remeasurement
penurunan nilai – neto (49) (60) 283 174 of loss impairment - net
Aset keuangan yang baru New financial assets
diperoleh 643 198 - 841 originated
Penghapusan - - (297) (297) Written-off
Saldo akhir 712 198 137 1.047 Ending balance
310 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 311
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/51 Exhibit E/51
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
7. PIUTANG LAIN-LAIN – PIHAK KETIGA 7. OTHER RECEIVABLES – THIRD PARTIES
31 Desember/December
2024 2023
Piutang dalam proses penyelesaian – neto 203.253 147.294 Receivables in the settlement process - net
Piutang karyawan 46.352 48.463 Employee receivables
Piutang penerimaan angsuran konsumen 38.467 50.312 Customer installment receipt receivables
Premi asuransi 2.020 995 Insurance premium
Lain-lain 2.408 3.651 Others
Jumlah 292.500 250.715 Total
Piutang dalam proses penyelesaian – pihak ketiga dinyatakan Receivables in the settlement process – third parties are
dalam nilai neto, setelah dikurangi dengan cadangan kerugian recorded at net amount, after deducting the allowance for
penurunan nilai pada tanggal 31 Desember 2024 dan 2023 impairment losses as of 31 December 2024 and 2023
masing-masing sebesar Rp 44.329 dan Rp 44.230. Manajemen amounting to Rp 44,329 and Rp 44,230, respectively.
berpendapat bahwa jumlah cadangan kerugian penurunan nilai Management believes that the allowance for impairment
tersebut, cukup untuk menutupi kerugian yang mungkin timbul losses are adequate to cover possible losses from
akibat tidak tertagihnya piutang dalam proses penyelesaian - uncollectible receivables from receivables in the
pihak ketiga. settlement process – third parties.
Piutang penerimaan angsuran konsumen merupakan Customer installment receipt receivables are customer
pembayaran angsuran konsumen yang diantaranya dilakukan installment such paid through online customer’s payment
secara online melalui fasilitas layanan pembayaran pelanggan channel (payment point) such as ATM networks of Prima,
(payment point) seperti jaringan ATM Prima, ATM Bersama, ATM Bersama and outlets of Indomaret and Alfamart retail
jaringan toko ritel Indomaret dan Alfamart (termasuk di stores (including the store chains of Alfa Midi, Dandan, and
dalamnya jaringan Alfa Midi, Dandan, dan Lawson) serta Lawson) and marketplace such as Tokopedia, Shopee, Blibli
marketplace seperti Tokopedia, Shopee, Blibli dan Gojek. and Gojek. These channels will transfer the installment
Fasilitas payment point ini akan meneruskan angsuran yang paid to the Company’s bank account in several bank within
dibayarkan konsumen tersebut ke rekening Perusahaan di 1 (one) day up to 2 (two) days from the date that the
beberapa bank dalam jangka waktu 1 (satu) hari sampai dengan customer installment is received.
2 (dua) hari dari tanggal angsuran konsumen diterima.
8. ASET (LIABILITAS) DERIVATIF 8. DERIVATIVE ASSETS (LIABILITIES)
Perusahaan memiliki beberapa kontrak cross currency dan The Company has several cross currency and interest rate
interest rate swap dengan beberapa bank. Perincian dari swap contracts with several banks. The details of these
kontrak-kontrak tersebut adalah sebagai berikut: contracts are as follows:
31 Desember/December 2024
Jumlah nosional Tanggal Nilai wajar/Fair value
(nilai penuh)/ perjanjian/ Tanggal Aset (liabilitas) derivatif/
Pihak lawan/ Notional amount Agreement jatuh tempo/ Derivative assets
Counterparty (full amount) date Due date (liabilities)
Cross Currency and Interest
Rate Swap
PT Bank Permata Tbk USD 1.000.000 18-Jan-2022 20-Jan-2025 1.879
PT Bank Permata Tbk USD 1.500.000 14-Feb-2022 14-Feb-2025 2.653
PT Bank Permata Tbk USD 1.500.000 14-Mar-2022 14-Mar-2025 2.657
PT Bank CTBC Indonesia USD 7.000.000 22-Feb-2023 20-Feb-2026 6.261
PT Bank CIMB Niaga Tbk USD 6.000.000 22-May-2023 22-May-2026 8.195
PT Bank Rakyat Indonesia (Persero) Tbk USD 6.000.000 19-Jun-2023 26-Jun-2026 (11.579)
PT Bank CIMB Niaga Tbk USD 7.000.000 27-Jul-2023 27-Jul-2026 7.811
PT Bank Rakyat Indonesia (Persero) Tbk USD 14.000.000 16-Aug-2023 28-Aug-2026 (16.130)
PT Bank Permata Tbk USD 12.000.000 27-Nov-2023 27-Nov-2026 8.138
PT Bank Rakyat Indonesia (Persero) Tbk USD 20.000.000 18-Dec-2023 18-Dec-2026 (8.213)
PT Bank Rakyat Indonesia (Persero) Tbk USD 9.000.000 18-Jan-2024 25-Jan-2027 (5.167)
PT Bank CIMB Niaga Tbk USD 18.000.000 15-Feb-2024 15-Feb-2027 6.655
PT Bank Permata Tbk USD 18.000.000 21-Mar-2024 22-Mar-2027 10.096
PT Bank CIMB Niaga Tbk USD 7.500.000 26-Mar-2024 28-Mar-2027 2.201
PT Bank Permata Tbk USD 5.416.667 5-Apr-2024 5-Apr-2027 983
PT Bank Permata Tbk USD 7.916.667 18-Apr-2024 18-Apr-2027 1.527
PT Bank Rakyat Indonesia (Persero) Tbk USD 10.000.000 18-Apr-2024 26-Apr-2027 1.024
PT Bank CIMB Niaga Tbk USD 8.861.111 7-May-2024 21-May-2027 (53)
PT Bank Permata Tbk USD 6.508.333 29-Aug-2024 27-Aug-2027 3.425
PT Bank Danamon Indonesia Tbk USD 6.038.647 26-Sep-2024 24-Sep-2027 5.291
27.654
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 311
Page 312
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/52 Exhibit E/52
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
8. ASET (LIABILITAS) DERIVATIF (Lanjutan) 8. DERIVATIVE ASSETS (LIABILITIES) (Continued)
Perusahaan memiliki beberapa kontrak cross currency dan The Company has several cross currency and interest rate
interest rate swap dengan beberapa bank. Perincian dari swap contracts with several banks. The details of these
kontrak-kontrak tersebut adalah sebagai berikut: (Lanjutan) contracts are as follows: (Continued)
31 Desember/December 2023
Jumlah nosional Tanggal Nilai wajar/Fair value
(nilai penuh)/ perjanjian/ Tanggal Aset (liabilitas) derivatif/
Pihak lawan/ Notional amount Agreement jatuh tempo/ Derivative assets
Counterparty (full amount) date Due date (liabilities)
Cross Currency and Interest
Rate Swap
PT Bank Permata Tbk USD 1.666.667 13-Apr-2021 15-Apr-2024 927
PT Bank Permata Tbk USD 2.216.667 20-Apr-2021 22-Apr-2024 906
PT Bank Permata Tbk USD 1.950.000 20-Apr-2021 22-Apr-2024 797
Standard Chartered Bank, Jakarta Branch USD 4.500.000 16-Sep-2021 17-Sep-2024 5.658
Standard Chartered Bank, Jakarta Branch USD 6.000.000 13-Oct-2021 15-Oct-2024 7.655
PT Bank CIMB Niaga Tbk USD 4.000.000 23-Nov-2021 23-Nov-2024 4.846
PT Bank Permata Tbk USD 5.000.000 18-Jan-2022 20-Jan-2025 6.262
PT Bank Permata Tbk USD 7.500.000 14-Feb-2022 14-Feb-2025 8.462
PT Bank Permata Tbk USD 7.500.000 14-Mar-2022 14-Mar-2025 8.563
PT Bank CTBC Indonesia USD 13.000.000 22-Feb-2023 20-Feb-2026 1.865
PT Bank CIMB Niaga Tbk USD 10.000.000 22-May-2023 22-May-2026 6.038
PT Bank Rakyat Indonesia (Persero) Tbk USD 10.000.000 26-Jun-2023 26-Jun-2026 (1.211)
PT Bank CIMB Niaga Tbk USD 10.000.000 27-Jul-2023 27-Jul-2026 3.445
PT Bank Rakyat Indonesia (Persero) Tbk USD 20.000.000 28-Aug-2023 28-Aug-2026 (1.934)
PT Bank Permata Tbk USD 15.000.000 27-Nov-2023 27-Nov-2026 (957)
PT Bank Rakyat Indonesia (Persero) Tbk USD 25.000.000 18-Dec-2023 18-Dec-2026 5.335
56.657
Perusahaan melakukan kontrak cross currency swap dan The Company entered into cross currency swap and interest
interest rate swap dengan tujuan lindung nilai atas risiko rate swap contracts to hedge the risk of fluctuations in cash
fluktuasi arus kas yang ditimbulkan oleh kurs mata uang dan flows arising from exchange rates and interest rates on
tingkat suku bunga atas pinjaman yang diterima. borrowing.
Perubahan atas nilai wajar dari kontrak cross currency swap Changes in the fair value of cross currency swap and interest
dan interest rate swap yang ditetapkan sebagai instrumen rate swap contract designated hedging instruments that
lindung nilai, yang secara efektif menghapus variabilitas arus effectively offset the variability of cash flows associated
kas dari pinjaman terkait, dicatat di ekuitas. Nilai ini with the borrowings are recorded in equity. The amounts
kemudian diakui dalam laporan laba rugi sebagai penyesuaian subsequently are recognized to the profit or loss as
atas laba atau rugi selisih kurs dan beban bunga pinjaman adjustments of the exchange rate differences and interest
terkait yang dilindungi nilai pada periode yang sama dimana payments related to the hedged borrowings in the same
selisih kurs dan beban bunga tersebut diakui pada perkiraan period in which the related exchange rate differences and
laba rugi. interest affects profit or loss.
(Kerugian) dan keuntungan kumulatif yang timbul dari The cumulative (loss) and gain arising from the changes in
perubahan nilai wajar instrumen derivatif pada tanggal fair values of the derivative instruments as of 31 December
31 Desember 2024 dan 2023 masing-masing sebesar 2024 and 2023 amounting to (Rp 65,416) and Rp 666,
(Rp 65.416) dan Rp 666 disajikan sebagai “Keuntungan respectively, were presented as “Cumulative gain on
kumulatif atas instrumen derivatif untuk lindung nilai arus kas– derivative instrument for cash flow hedges – net” under the
neto” sebagai bagian “Ekuitas” pada laporan posisi keuangan “Equity” section in the consolidated statement of financial
konsolidasian dan akan diakui dalam laporan laba rugi pada position and will be recognized in the statement of profit
saat realisasinya. or loss upon its realization.
312 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 313
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/53 Exhibit E/53
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
9. BEBAN DIBAYAR DI MUKA DAN UANG MUKA 9. PREPAID EXPENSES AND ADVANCES
31 Desember/December
2024 2023
Beban Dibayar di Muka Prepaid Expenses
Sewa 754 458 Rent
Bunga 716 11.493 Interest
Asuransi 291 300 Insurance
Lain-lain 21 347 Others
Sub-jumlah 1.782 12.598 Sub-total
Uang Muka Advances
Implementasi proyek IT 15.684 8.131 IT implementation project
Uang muka 630 836 Advance payment
Lain-lain 2.043 12.872 Others
Sub-jumlah 18.357 21.839 Sub-total
Jumlah 20.139 34.437 Total
10. ASET TETAP 10. FIXED ASSETS
31 Desember/December 2024
Saldo awal/ A Saldo akhir/
Beginning Penambahan/ Pengurangan/ Reklasifikasi/ Ending
balance Additions Deductions Reclassifications balance
Harga perolehan Acquisition cost
Pemilikan langsung Direct ownership
Tanah 207.193 - - - 207.193 Land
Bangunan dan prasarana 446.797 916 (2.383 ) 6.403 451.733 Building and improvements
Peralatan kantor 326.524 7.454 (11.100 ) 8.096 330.974 Office equipment
Kendaraan 338.710 78.007 (65.949 ) 429 351.197 Vehicles
Perabot dan
perlengkapan kantor 24.703 705 (503 ) 373 25.278 Furniture and fixtures
1.343.927 87.082 (79.935 ) 15.301 1.366.375
Aset dalam pembangunan 1.102 10.430 - (10.006) 1.526 Asset under construction
Jumlah Harga Perolehan 1.345.029 97.512 (79.935 ) 5.295 1.367.901 Total Acquisition Cost
Akumulasi penyusutan Accumulated depreciation
Pemilikan langsung Direct ownership
Bangunan dan prasarana 245.587 22.946 (2.368 ) - 266.165 Building and improvements
Peralatan kantor 230.516 38.641 (10.994 ) - 258.163 Office equipment
Kendaraan 126.431 61.995 (39.526 ) - 148.900 Vehicles
Perabot dan
perlengkapan kantor 21.668 956 (496 ) - 22.128 Furniture and fixtures
Jumlah Akumulasi Total Accumulated
Penyusutan 624.202 124.538 (53.384 ) - 695.356 Depreciation
Nilai Tercatat 720.827 672.545 Carrying Amount
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 313
Page 314
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/54 Exhibit E/54
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
10. ASET TETAP (Lanjutan) 10. FIXED ASSETS (Continued)
31 Desember/December 2023
Saldo awal/ A Saldo akhir/
Beginning Penambahan/ Pengurangan/ Reklasifikasi/ Ending
balance Additions Deductions Reclassifications balance
Harga perolehan Acquisition cost
Pemilikan langsung Direct ownership
Tanah 207.193 - - - 207.193 Land
Bangunan dan prasarana 432.605 3.741 - 10.451 446.797 Building and improvements
Peralatan kantor 273.812 57.523 (5.571) 760 326.524 Office equipment
Kendaraan 277.440 119.118 (57.848) - 338.710 Vehicles
Perabot dan
perlengkapan kantor 22.790 646 (237) 1.504 24.703 Furniture and fixtures
1.213.840 181.028 (63.656 ) 12.715 1.343.927
Aset dalam pembangunan 1.902 11.915 - (12.715) 1.102 Asset under construction
Jumlah Harga Perolehan 1.215.742 192.943 (63.656 ) - 1.345.029 Total Acquisition Cost
Akumulasi penyusutan Accumulated depreciation
Pemilikan langsung Direct ownership
Bangunan dan prasarana 221.982 23.605 - - 245.587 Building and improvements
Peralatan kantor 199.482 36.479 (5.445 ) - 230.516 Office equipment
Kendaraan 114.147 56.392 (44.108 ) - 126.431 Vehicles
Perabot dan
perlengkapan kantor 20.986 908 (226 ) - 21.668 Furniture and fixtures
Jumlah Akumulasi Total Accumulated
Penyusutan 556.597 117.384 (49.779 ) - 624.202 Depreciation
Nilai Tercatat 659.145 720.827 Carrying Amount
3
Pada tanggal 31 Desember 2024 dan 2023 rincian aset dalam As of 31 December 2024 and 2023, the details of asset under
pembangunan dengan persentase penyelesaian masing-masing construction with percentage of completion of are 67% and
sebesar 67% dan 66% sebagai berikut: 66%, respectively, are as follows:
Perkiraan tahun penyelesaian/ 31 Desember/December
Proyek Estimation of completion 2024 2023 Project
Bangunan dan prasarana 2025 527 1.056 Building and improvement
Peralatan kantor 2025 998 28 Office equipment
Perabot dan
perlengkapan kantor 2025 1 18 Furniture and fixtures
Jumlah 1.526 1.102 Total
Jumlah penyusutan yang dibebankan pada operasi adalah Depreciation charged to operations was amounted to
sejumlah Rp 124.538 dan Rp 117.384 masing-masing untuk Rp 124,538 and Rp 117,384 for the year ended 31 December
tahun yang berakhir pada tanggal 31 Desember 2024 dan 2023 2024 and 2023, respectively (Note 27).
(Catatan 27).
Perusahaan memiliki beberapa bidang tanah dengan status The Company owns several plots of land with “Property Use
“Hak Guna Bangunan” (“HGB”) yang memiliki masa manfaat Rights” titles (“HGB”) with remaining useful lifes that will
yang akan berakhir antara tahun 2025 sampai tahun 2051. expire in the various years between 2025 to 2051. The
Manajemen Perusahaan berkeyakinan bahwa tidak akan management of the Company believes that there will be no
terdapat kesulitan dalam memperpanjang hak atas tanah difficulty in extending the land rights as the land were
karena tanah tersebut diperoleh secara sah dan dilengkapi acquired legally and supported by sufficient evidences of
dengan bukti kepemilikan yang sah. ownership.
314 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 315
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/55 Exhibit E/55
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
10. ASET TETAP (Lanjutan) 10. FIXED ASSETS (Continued)
Pengurangan aset tetap untuk tahun yang berakhir pada Deductions of fixed assets for the year ended 31 December
tanggal 31 Desember 2024 dan 2023 terdiri dari 2024 and 2023 consisted of writen off office equipment and
penghapusbukuan peralatan kantor dan rehabilitasi gedung leasehold improvement, and sales of fixed assets - vehicles
kantor, serta penjualan aset tetap kendaraan dan peralatan and office equipment with details of gain on sale are as
kantor dengan rincian keuntungan yang diperoleh adalah follows:
sebagai berikut:
31 Desember/December
2024 2023
Hasil penjualan 40.231 27.380 Proceeds
Nilai tercatat (26.551) (13.878) Carrying amount
Keuntungan penjualan aset tetap 13.680 13.502 Gain on sale of fixed assets
Keuntungan penjualan aset tetap diakui sebagai bagian dari Gain on sale of fixed assets is recognized as part of “Other
“Pendapatan Lain-lain” pada laporan laba rugi dan Income” in the consolidated statement of profit or loss and
penghasilan komprehensif lain konsolidasian (Catatan 24). other comprehensive income (Note 24).
Pada tanggal 31 Desember 2024 dan 2023, jumlah harga As of 31 December 2024 and 2023, the cost of fixed asset
perolehan aset tetap yang telah disusutkan penuh tetapi masih which have been fully depreciated but still in use in the
digunakan dalam kegiatan operasional adalah masing-masing operational activities amounted to Rp 338,685 and
sebesar Rp 338.685 dan Rp 294.166. Rp 294,166, respectively.
Seluruh aset tetap, kecuali tanah, telah diasuransikan All fixed assets, except for land, are covered against losses
terhadap risiko kerugian kebakaran, banjir dan risiko kerugian from fire, flood and other risks (all risks) with a total
lainnya (all risks) dengan jumlah nilai pertanggungan masing- sum insured amounting to Rp 470,730 and Rp 453,806 as of
masing sebesar Rp 470.730 dan Rp 453.806 pada tanggal 31 December 2024 and 2023, respectively. The management
31 Desember 2024 dan 2023. Manajemen berkeyakinan bahwa believes that the sum insured is sufficient to cover the
nilai pertanggungan tersebut telah memadai untuk menutup possible losses that may arise fro the said insured risks.
kemungkinan kerugian atas aset tetap terhadap risiko-risiko
yang dipertanggungkan.
Tidak ada aset tetap yang dijadikan jaminan pada tanggal There were no fixed assets pledged as collateral as of
31 Desember 2024 dan 2023. 31 December 2024 and 2023.
Manajemen Perusahaan dan Entitas Anaknya berkeyakinan The management of the Company and Its Subsidiary believes
bahwa tidak terdapat kondisi atau peristiwa yang that there were no conditions or event that indicate
menimbulkan indikasi penurunan nilai atas jumlah tercatat impairment in the carrying amount of its fixed assets, and
aset tetap, sehingga tidak diperlukan cadangan kerugian therefore an allowance for impairment losses of fixed assets
penurunan nilai untuk aset tetap. was not considered necessary.
Manajemen Perusahaan dan Entitas Anaknya berkeyakinan The management of the Company and Its Subsidiary believes
bahwa tidak ada perbedaan secara signifikan antara nilai wajar that there is no significant difference between the fair
aset tetap dengan jumlah tercatat. value and the carrying amount of fixed assets.
Seluruh aset tetap yang ada pada tanggal pelaporan digunakan All of fixed assets as at the reporting date are fully used to
untuk menunjang aktivitas operasi Perusahaan. support the Company’s operation activities.
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 315
Page 316
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/56 Exhibit E/56
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
11. ASET HAK-GUNA 11. RIGHT-OF-USE ASSETS
Klasifikasi kelompok utama aset hak-guna adalah sebagai The major classification of right-of-use assets are as
berikut: follows:
31 Desember/December 2024
Saldo awal/ Penambahan/ Pengurangan/ Saldo akhir/
Beginning balance Additions Deductions Ending balance
Harga perolehan Acquisition cost
Sewa bangunan 117.656 24.706 (65.587) 76.775 Buildings leases
Akumulasi Accumulated
penyusutan depreciation
Sewa bangunan 76.631 22.474 (65.587) 33.518 Buildings leases
Nilai Tercatat 41.025 43.257 Carrying Amount
31 Desember/December 2023
Saldo awal/ Penambahan/ Pengurangan/ Saldo akhir/
Beginning balance Additions Deductions Ending balance
Harga perolehan Acquisition cost
Sewa bangunan 105.319 25.218 (12.881) 117.656 Buildings leases
Akumulasi Accumulated
penyusutan depreciation
Sewa bangunan 66.900 22.612 (12.881) 76.631 Buildings leases
Nilai Tercatat 38.419 41.025 Carrying Amount
Jumlah penyusutan yang dibebankan pada operasi adalah Depreciation charged to operations was amounted to
sejumlah Rp 22.474 dan Rp 22.612 untuk tahun yang berakhir Rp 22,474 and Rp 22,612 for the year ended 31 December
pada tanggal 31 Desember 2024 dan 2023 (Catatan 27). 2024 and 2023, respectively (Note 27).
Beberapa transaksi sewa gudang dan kantor mengandung opsi Some leases of warehouses and offices contain extension
perpanjangan yang dapat diambil oleh Perusahaan sebelum options exercisable by the Company before the end of the
masa berakhirnya kontrak yang tidak dapat dibatalkan. Opsi non-cancellable contract period. The extension options held
perpanjangan yang dimiliki hanya dapat diambil oleh are exercisable only by the Company. The Company assesses
Perusahaan. Perusahaan mengevaluasi pada awal dimulainya at lease commencement whether it is reasonably certain to
masa sewa apakah besar kemungkinan akan diambilnya opsi exercise the extension options. The Company reassesses this
perpanjangan. Perusahaan mengevaluasi kembali penentuan assessment if there is a significant event or significant
ini apabila ada peristiwa signifikan atau ada perubahan change in circumstances within its control.
keadaan signifikan di dalam kendali Perusahaan.
316 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 317
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/57 Exhibit E/57
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
12. ASET TAKBERWUJUD 12. INTANGIBLE ASSETS
31 Desember/December 2024
Saldo awal/ A Saldo akhir/
Beginning Penambahan/ Pengurangan/ Reklasifikasi/ Ending
balance Additions Deductions Reclassifications balance
Harga perolehan Acquisition cost
Pemilikan langsung Direct ownership
Perangkat lunak 427.298 15.111 (20.184 ) 264 422.489 Software
Perangkat lunak dalam
penyelesaian 2.364 8.142 - (5.559) 4.947 Software in progress
Jumlah Harga Perolehan 429.662 23.253 (20.184 ) (5.295) 427.436 Total Acquisition Cost
Akumulasi amortisasi Accumulated amortization
Pemilikan langsung Direct ownership
Perangkat lunak 174.496 68.353 (14.822 ) - 228.027 Software
Nilai Tercatat 255.166 199.409 Carrying Amount
31 Desember/December 2023
Saldo awal/ A Saldo akhir/
Beginning Penambahan/ Pengurangan/ Reklasifikasi/ Ending
balance Additions Deductions Reclassifications balance
Harga perolehan Acquisition cost
Pemilikan langsung Direct ownership
Perangkat lunak 191.059 144.413 - 91.826 427.298 Software
Perangkat lunak dalam
penyelesaian 69.077 25.113 - (91.826) 2.364 Software in progress
Jumlah Harga Perolehan 260.136 169.526 - - 429.662 Total Acquisition Cost
Akumulasi amortisasi Accumulated amortization
Pemilikan langsung Direct ownership
Perangkat lunak 120.637 53.859 - - 174.496 Software
Nilai Tercatat 139.499 255.166 Carrying Amount
Jumlah amortisasi yang dibebankan pada operasi adalah Amortization charged to operations was amounted
sejumlah Rp 68.353 dan Rp 53.859 masing-masing untuk tahun to Rp 68,353 and Rp 53,859 for the year ended
yang berakhir pada tanggal 31 Desember 2024 dan 2023 31 December 2024 and 2023, respectively (Note 27).
(Catatan 27).
13. PINJAMAN YANG DITERIMA 13. FUND BORROWINGS
Pinjaman yang diterima terdiri dari: Borrowings consist of the followings:
Lembaga keuangan Financial institutions
31 Desember/December
2024 2023
Pihak ketiga Third parties
Pinjaman (Dolar AS) Borrowings (US Dollar)
Pinjaman Sindikasi 2.004.088 1.919.292 Syndicated Loan
PT Bank Permata Tbk 320.681 - PT Bank Permata Tbk
PT Bank CIMB Niaga Tbk 264.428 - PT Bank CIMB Niaga Tbk
PT Bank CTBC Indonesia 113.134 200.408 PT Bank CTBC Indonesia
PT Bank Danamon Indonesia Tbk 97.597 - PT Bank Danamon Indonesia Tbk
responsAbility SICAV (Lux) - responsAbility SICAV (Lux) -
konsolidasian - 89.927 consolidated
Sub-jumlah pinjaman (Dolar AS) 2.799.928 2.209.627 Sub-total borrowings (US Dollar)
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 317
Page 318
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/58 Exhibit E/58
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
13. PINJAMAN YANG DITERIMA (Lanjutan) 13. FUND BORROWINGS (Continued)
Pinjaman yang diterima terdiri dari: (Lanjutan) Borrowings consist of the followings: (Continued)
Lembaga keuangan (lanjutan) Financial institutions (Continued)
31 Desember/December
2024 2023
Pihak ketiga Third parties
Pinjaman (Rupiah) Borrowings (Rupiah)
PT Bank Mandiri (Persero) Tbk 1.729.457 1.221.847 PT Bank Mandiri (Persero) Tbk
PT Bank Central Asia Tbk 1.237.500 980.555 PT Bank Central Asia Tbk
PT Bank Pan Indonesia Tbk 962.892 1.052.320 PT Bank Pan Indonesia Tbk
Pinjaman Sindikasi Syndicated Loan
(Agen : PT Bank DKI) 542.744 1.076.474 (Agent : PT Bank DKI)
PT Bank UOB Indonesia 500.000 100.000 PT Bank UOB Indonesia
PT Bank Digital BCA 474.444 - PT Bank Digital BCA
PT Bank KEB Hana Indonesia 433.333 330.278 PT Bank KEB Hana Indonesia
MUFG Bank, Ltd, Cabang Jakarta 354.063 - MUFG Bank, Ltd, Jakarta Branch
PT Bank China Construction PT Bank China Construction
Bank Indonesia Tbk 295.367 132.177 Bank Indonesia Tbk
PT Bank Pembangunan Daerah PT Bank Pembangunan Daerah
Jawa Barat dan Banten Tbk 286.667 150.000 Jawa Barat dan Banten Tbk
PT Bank Maspion Indonesia Tbk 225.000 - PT Bank Maspion Indonesia Tbk
PT Bank OCBC NISP Tbk 150.000 - PT Bank OCBC NISP Tbk
PT Bank Mizuho Indonesia 150.000 - PT Bank Mizuho Indonesia
PT Bank CIMB Niaga Tbk 98.025 276.891 PT Bank CIMB Niaga Tbk
PT Bank DKI 89.690 261.214 PT Bank DKI
PT Bank Shinhan Indonesia 33.333 100.000 PT Bank Shinhan Indonesia
PT Bank Permata Tbk - 35.417 PT Bank Permata Tbk
PT Bank Permata Syariah Tbk - 10.417 PT Bank Permata Syariah Tbk
PT Bank Danamon Indonesia Tbk - - PT Bank Danamon Indonesia Tbk
PT Bank DBS Indonesia - - PT Bank DBS Indonesia
Pihak berelasi (Catatan 29) Related party (Note 29)
PT Bank Jago Tbk 169.094 296.893 PT Bank Jago Tbk
Sub-jumlah pinjaman (Rupiah) 7.731.609 6.024.483 Sub-total borrowings (Rupiah)
Lembaga non-keuangan Non-financial institutions
Pinjaman (Rupiah) Borrowings (Rupiah)
PT United Tractors Tbk 311.544 432.257 PT United Tractors Tbk
PT Gaya Makmur Tractors 15.278 35.141 PT Gaya Makmur Tractors
Jumlah pinjaman (Rupiah) 326.822 467.398 Total borrowings (Rupiah)
Jumlah pinjaman 10.858.359 8.701.508 Total borrowings
Dikurangi: Less:
Biaya transaksi yang belum
diamortisasi (35.788) (35.648) Unamortized transaction costs
Pinjaman – neto 10.822.571 8.665.860 Borrowings – net
Kisaran suku bunga kontraktual setahun untuk pinjaman dari The range of contractual interest rates per annum on the
bank di atas adalah sebagai berikut: above bank loans are as follows:
31 Desember/December
2024 2023
Rupiah 5,00 – 7,30 5,00 – 7,50 Rupiah
Dolar AS 5,11 - 6,59 2,25 - 7,36 US Dollar
318 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 319
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/59 Exhibit E/59
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
13. PINJAMAN YANG DITERIMA (Lanjutan) 13. FUND BORROWINGS (Continued)
Rincian dari fasilitas pinjaman yang diterima adalah sebagai The detail of loan facilities are as follows:
berikut:
Nama Lembaga Keuangan dan Perjanjian Jatuh tempo Saldo pinjaman/
Lembaga Non-Keuangan/ terakhir/ fasilitas/ Outstanding loan
Financial Institutions and Latest Facility Batas fasilitas/ 31 Desember/December
`
Non-Financial Institutions’ Name agreement due date** Facility limit 2024 2023
Dolar AS/US Dollar
Pinjaman Sindikasi
(Agen : Standard Chartered Bank
(Hong Kong) Ltd.) 30-Aug-2021 14-Mar-2025 USD 80.000.000* 64.648 531.852
(Agen : Standard Chartered Bank
(Hong Kong) Ltd.) 2-May-2023 26-Apr-2027 USD 150.000.000* 1.939.440 1.387.440
USD 230.000.000* 2.004.088 1.919.292
PT Bank Permata Tbk*** 18-Apr-2023 27-Aug-2027 USD 23.100.000* 320.681 -
PT Bank CIMB Niaga Tbk^ 25-Mar-2024 28-Mar-2027 USD 10.000.000* 121.215 -
7-May-2024 21-May-2027 USD 11.000.000* 143.213 -
USD 21.000.000* 264.428 -
PT Bank CTBC Indonesia 20-Feb-2023 20-Feb-2026 USD 18.000.000* 113.134 200.408
PT Bank Danamon Indonesia Tbk^^ 26-Jul-2024 24-Sep-2027 USD 6.587.615* 97.597 -
responsAbility SICAV (Lux) -
consolidated 5-Apr-2021 22-Apr-2024 USD 35.000.000* - 89.927
Jumlah Dolar AS/Total US Dollar USD 333.687.615* 2.799.928 2.209.627
Rupiah
PT Bank Mandiri (Persero) Tbk 29-Dec-2020 23-Feb-2024 250.000 - 20.833
31-Mar-2021 14-Jul-2025 200.000 29.188 82.443
8-Dec-2021 8-Mar-2026 250.000 84.263 147.631
29-Mar-2022 26-Apr-2026 750.000 142.074 362.792
26-Jul-2022 22-Aug-2024 500.000 - 165.114
20-Sep-2022 9-Dec-2024 500.000 - 250.519
28-Feb-2023 27-Mar-2025 750.000 39.897 192.515
2-Apr-2024 22-May-2026 750.000 527.529 -
24-Jun-2024 27-Dec-2026 750.000 906.506 -
30-Oct-2024 30-Apr-2025 250.000 - -
4.950.000 1.729.457 1.221.847
PT Bank Central Asia Tbk 14-Dec-2020 18-Feb-2025 1.000.000 18.056 283.333
26-Jan-2022 22-Dec-2025 1.200.000 97.222 530.555
29-Dec-2022 18-Dec-2027 1.700.000 1.122.222 166.667
14-Mar-2024 24-Jan-2025 800.000 - -
4.700.000 1.237.500 980.555
PT Bank Pan Indonesia Tbk 30-Apr-2021 24-Jan-2025 1.000.000 4.559 210.653
24-Aug-2022 12-Dec-2025 1.000.000 200.000 541.667
13-Mar-2023 27-Aug-2027 1.000.000 758.333 300.000
29-Aug-2023 31-Aug-2025 100.000 - -
3.100.000 962.892 1.052.320
Pinjaman Sindikasi
(Agen : PT Bank DKI) 23-Sep-2022 29-Mar-2026 1.600.000 542.744 1.076.474
PT Bank UOB Indonesia 28-Sep-2024 3-Jan-2025 700.000 500.000 100.000
PT Bank Digital BCA 19-Nov-2024 27-Dec-2027 480.000 474.444 -
Saldo pindahan/ Balance carry
forward 15.530.000 5.447.037 4.431.196
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 319
Page 320
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/60 Exhibit E/60
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
13. PINJAMAN YANG DITERIMA (Lanjutan) 13. FUND BORROWINGS (Continued)
Rincian dari fasilitas pinjaman yang diterima adalah sebagai The detail of loan facilities are as follows: (Continued)
berikut: (Lanjutan)
Nama Lembaga Keuangan dan Perjanjian Jatuh tempo Saldo pinjaman/
Lembaga Non-Keuangan/ terakhir/ fasilitas/ Outstanding loan
Financial Institutions and Latest Facility Batas fasilitas/ 31 Desember/December
Non-Financial Institutions’ Name agreement due date** Facility limit 2024 2023
Rupiah
`
Saldo dipindahkan/ Balance brought
forward 15.530.000 5.447.037 4.431.196
PT Bank KEB Hana Indonesia 23-Sep-2021 21-Oct-2024 200.000 - 19.167
13-Dec-2022 3-Feb-2026 300.000 111.111 211.111
11-Feb-2024 3-Jan-2025 100.000 100.000 100.000
15-Feb-2024 25-Mar-2027 300.000 222.222 -
900.000 433.333 330.278
MUFG Bank, Ltd, Cabang Jakarta 5-Aug-2024 5-Sep-2027 400.000 354.063 -
PT Bank China Construction Bank
Indonesia Tbk 9-Jun-2022 7-Jul-2025 250.000 46.424 132.177
14-May-2024 6-Jun-2027 300.000 248.943 -
550.000 295.367 132.177
PT Bank Pembangunan Daerah
Jawa Barat dan Banten Tbk 20-Dec-2023 22-Apr-2027 390.000 286.667 150.000
3-Sep-2024 3-Sep-2025 390.000 - -
780.000 286.667 150.000
PT Bank Maspion Indonesia Tbk 7-Jun-2023 19-Apr-2027 300.000 225.000 -
PT Bank Jago Tbk 22-Sep-2022 27-Dec-2026 300.000 169.094 296.893
PT Bank OCBC NISP Tbk 8-Mar-2024 2-Jan-2025 300.000 150.000 -
PT Bank Mizuho Indonesia 25-Nov-2024 3-Jan-2025 150.000 150.000 -
PT Bank CIMB Niaga Tbk 17-Mar-2022 14-Mar-2025 300.000 23.025 126.891
25-May-2023 28-Dec-2025 500.000 75.000 150.000
800.000 98.025 276.891
PT Bank DKI 16-Jun-2022 29-Jun-2025 500.000 89.690 261.214
PT Bank Shinhan Indonesia 28-Apr-2022 19-May-2025 200.000 33.333 100.000
PT Bank Permata Tbk 28-May-2021 24-May-2024 200.000 - 35.417
18-Apr-2023 18-Apr-2024 400.000 - -
600.000 - 35.417
PT Bank Permata Syariah Tbk 28-May-2021 24-May-2024 50.000 - 10.417
PT Bank Danamon Indonesia Tbk 26-Jul-2024 26-Jul-2025 1.000.000 - -
PT Bank DBS Indonesia 11-Jun-2024 11-Mar-2028 300.000 - -
PT United Tractors Tbk 26-Jun-2023 19-Dec-2027 1.250.000 311.544 432.257
PT Gaya Makmur Tractors 6-Jan-2022 25-Jan-2026 67.106 15.278 35.141
Jumlah Rupiah/Total Rupiah 23.977.106 8.058.431 6.491.881
Jumlah pinjaman/Total borrowings 10.858.359 8.701.508
*) Nilai penuh *) Full amount
**) Tanggal angsuran terakhir dari pinjaman yang diterima **) The date of the last installment of the loan received
***) Merupakan bagian penarikan pinjaman dalam Dolar AS dari ***) Represent part of the loan drawdown in US Dollar from the
fasilitas kredit PT Bank Permata Tbk (dalam Rupiah/ Dolar AS) credit facility PT Bank Permata Tbk (in Rupiah/ US Dollar)
^) Merupakan bagian penarikan pinjaman dalam Dolar AS dari fasilitas ^) Represent part of the loan drawdown in US Dollar from the Special
Pinjaman Transaksi Khusus 2 (dalam Rupiah/ Dolar AS) Transaction Loan 2 facility (in Rupiah/ US Dollar)
^^) Merupakan bagian penarikan pinjaman dalam Dolar AS dari fasilitas ^^) Represent part of the loan drawdown in US Dollar from the
kredit PT Bank Danamon Indonesia Tbk (dalam Rupiah/ Dolar AS) credit facility PT Bank Danamon Indonesia Tbk (in Rupiah/ US Dollar)
320 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 321
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/61 Exhibit E/61
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
13. PINJAMAN YANG DITERIMA (Lanjutan) 13. FUND BORROWINGS (Continued)
Pada tanggal 31 Maret 2021, Perusahaan menandatangani On 31 March 2021, the Company entered into a Working
Perjanjian Kredit Modal Kerja dengan PT Bank Mandiri Capital Credit Agreement with PT Bank Mandiri (Persero)
(Persero) Tbk sebesar Rp 200.000. Tbk amounting to Rp 200,000.
Pada tanggal 5 April 2021, Perusahaan menandatangani On 5 April 2021, the Company entered into Loan Agreements
Perjanjian Pinjaman dengan 2 sub fund dari responsAbility with 2 sub funds of responsAbility SICAV (LUX), i.e.:
SICAV (Lux) yaitu: responsAbility SICAV (Lux) Micro and SME responsAbility SICAV (Lux) Micro and SME Finance Debt
Finance Debt Fund; dan responsAbility SICAV (Lux) Financial Fund; and responsAbility SICAV (Lux) Financial Inclusion
Inclusion Fund serta MultiConcept Fund Management S.A. Fund, concurrently with a Loan Agreement with
dengan total keseluruhan fasilitas sebesar USD 35.000.000 MultiConcept Fund Management S.A. with overall facilities
(nilai penuh). amounting to USD 35,000,000 (full amount).
Pada tanggal 30 April 2021, Perusahaan menandatangani On 30 April 2021, the Company entered into a Credit
Perjanjian Kredit Pinjaman Tetap V dengan PT Bank Pan Agreement Fixed Loan V with PT Bank Pan Indonesia
Indonesia Tbk sebesar Rp 1.000.000. amounting to Rp 1,000,000.
Pada tanggal 28 Mei 2021, Perusahaan menandatangani On 28 May 2021, the Company entered into a Credit
Perjanjian Kredit Fasilitas Term Loan 2 sebesar Rp 200.000 Agreement Term Loan 2 facility amounting to Rp 200,000
dan Fasilitas Term Loan 3 Musyarakah Mutanaqisoh sebesar and Term Loan 3 Facility Musyarakah Mutanaqisoh
Rp 50.000 dengan PT Bank Permata Tbk. amounting to Rp 50,000 with PT Bank Permata Tbk.
Pada tanggal 24 Juni 2021, Perusahaan menandatangani On 24 June 2021, the Company entered into a Term Loan
Perjanjian Kredit Angsuran Berjangka sebesar Rp 600.000 Credit Agreement amounting to Rp 600,000 with PT Bank
dengan PT Bank Jago Tbk. Jago Tbk.
Pada tanggal 30 Agustus 2021, Perusahaan menandatangani On 30 August 2021, the Company entered into a Secured
perjanjian Fasilitas Sindikasi Pinjaman Berjangka dengan Syndicated Term Loan Facility Agreement amounting to
Jaminan (Term Loan) sebesar USD 80.000.000 (nilai penuh), USD 80,000,000 (full amount), whereas Standard Chartered
dimana Standard Chartered Bank (Hong Kong) Limited Bank (Hong Kong) Limited acting as the Facility Agent, and
bertindak sebagai Agen Fasilitas (the “Facility Agent”), dan PT Bank Central Asia Tbk acting as the Security Agent.
PT Bank Central Asia Tbk sebagai Agen Jaminan (the
“Security Agent”).
Pada tanggal 23 September 2021, Perusahaan On 23 September 2021, the Company entered into Working
menandatangani Perjanjian Working Capital Installment Capital Installment Agreement amounting to Rp 200,000
sebesar Rp 200.000 dengan PT Bank KEB Hana Indonesia. with PT Bank KEB Hana Indonesia.
Pada tanggal 8 Desember 2021, Perusahaan menandatangani On 8 December 2021, the Company entered into a Working
Perjanjian Kredit Modal Kerja sebesar Rp 250.000 dengan Capital Credit Agreement amounting to Rp 250,000 with
PT Bank Mandiri (Persero) Tbk. PT Bank Mandiri (Persero) Tbk.
Pada tanggal 6 Januari 2022, Perusahaan menandatangani On 6 January 2022, the Company entered into a Credit
Perjanjian Kredit sebesar Rp 50.000 dengan PT Gaya Makmur Agreement amounting to Rp 50,000 with PT Gaya Makmur
Tractors. Tractors.
Pada tanggal 26 Januari 2022, Perusahaan menandatangani On 26 January 2022, the Company entered into a Working
Perjanjian Kredit Modal Kerja sebesar Rp 1.000.000 dengan Capital Credit Agreement amounting to Rp 1,000,000 with
PT Bank Central Asia Tbk. PT Bank Central Asia Tbk.
Pada tanggal 17 Maret 2022, Perusahaan menandatangani On 17 March 2022, the Company entered into a Working
Perjanjian Kredit Modal Kerja sebesar Rp 300.000 dengan Capital Credit Agreement amounting to Rp 300,000 with
PT Bank CIMB Niaga Tbk. PT Bank CIMB Niaga Tbk.
Pada tanggal 25 Maret 2022, Perusahaan menandatangani On 25 March 2022, the Company entered into a second
Perubahan Kedua Perjanjian Kredit Angsuran Berjangka addendum Term Loan Credit Agreement amounting to
sebesar Rp 300.000 dengan PT Bank Jago Tbk. Rp 300,000 with PT Bank Jago Tbk.
Pada tanggal 29 Maret 2022, Perusahaan menandatangani On 29 March 2022, the Company entered into a Working
Perjanjian Kredit Modal Kerja sebesar Rp 750.000 dengan Capital Credit Agreement amounting to Rp 750,000 with
PT Bank Mandiri (Persero) Tbk. PT Bank Mandiri (Persero) Tbk.
Pada tanggal 28 April 2022, Perusahaan menandatangani On 28 April 2022, the Company entered into a Working
Perjanjian Kredit Modal Kerja sebesar Rp 200.000 dengan Capital Credit Agreement amounting to Rp 200,000 with
PT Bank Shinhan Indonesia. PT Bank Shinhan Indonesia.
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 321
Page 322
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/62 Exhibit E/62
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
13. PINJAMAN YANG DITERIMA (Lanjutan) 13. FUND BORROWINGS (Continued)
Pada tanggal 9 Juni 2022, Perusahaan menandatangani On 9 June 2022, the Company entered into a Working Capital
Perjanjian Kredit Modal Kerja sebesar Rp 250.000 dengan Credit Agreement amounting to Rp 250,000 with PT Bank
PT Bank China Construction Bank Indonesia Tbk dan China Construction Bank Indonesia Tbk and Rp 250,000 with
Rp 250.000 dengan PT Bank Victoria International Tbk. PT Bank Victoria International Tbk.
Pada tanggal 16 Juni 2022, Perusahaan menandatangani On 16 June 2022, the Company entered into a Working
Perjanjian Kredit Modal Kerja sebesar Rp 500.000 dengan Capital Credit Agreement amounting to Rp 500,000 with
PT Bank DKI. PT Bank DKI.
Pada tanggal 26 Juli 2022, Perusahaan menandatangani On 26 July 2022, the Company entered into a Working
Perjanjian Kredit Modal Kerja sebesar Rp 500.000 dengan Capital Credit Agreement amounting to Rp 500,000 with
PT Bank Mandiri (Persero) Tbk. PT Bank Mandiri (Persero) Tbk.
Pada tanggal 24 Agustus 2022, Perusahaan menandatangani On 24 August 2022, the Company entered into a Credit
Perjanjian Kredit Pinjaman Tetap VI dengan PT Bank Pan Agreement Fixed Loan VI with PT Bank Pan Indonesia
Indonesia Tbk sebesar Rp 1.000.000. amounting to Rp 1,000,000.
Pada tanggal 20 September 2022, Perusahaan On 20 September 2022, the Company entered into a Working
menandatangani Perjanjian Kredit Modal Kerja sebesar Capital Credit Agreement amounting to Rp 500,000 with
Rp 500.000 dengan PT Bank Mandiri (Persero) Tbk. PT Bank Mandiri (Persero) Tbk.
Pada tanggal 23 September 2022, Perusahaan On 23 September 2022, the Company entered into a
menandatangani Perjanjian Kredit Sindikasi dengan 4 BPD Syndication Credit Agreement with 4 BPD amounting to
sebesar Rp 1.600.000 dimana PT Bank DKI bertindak sebagai Rp 1,600,000 whereas PT Bank DKI acting as the Agent.
Agen.
Pada tanggal 28 September 2022, Perusahaan On 28 September 2022, the Company entered into a Working
menandatangani Perjanjian Kredit Modal Kerja sebesar Capital Credit Agreement amounting to Rp 400,000 with
Rp 400.000 dengan PT Bank UOB Indonesia. PT Bank UOB Indonesia.
Pada tanggal 14 Oktober 2022, plafon fasilitas kredit dari On 14 October 2022, the credit facility limit from PT Gaya
PT Gaya Makmur Tractors dinaikkan menjadi Rp 67.106. Makmur Tractors increased to Rp 67,106.
Pada tanggal 25 November 2022, Perusahaan menandatangani On 25 November 2022, the Company entered into a Working
Perjanjian Kredit Modal Kerja sebesar Rp 150.000 dengan Capital Credit Agreement amounting to Rp 150,000 with
PT Bank Mizuho Indonesia. PT Bank Mizuho Indonesia.
Pada tanggal 13 Desember 2022, Perusahaan menandatangani On 13 December 2022, the Company entered into a Working
Perjanjian Kredit Modal Kerja sebesar Rp 300.000 dengan Capital Credit Agreement amounting to Rp 300,000 with
PT Bank KEB Hana Indonesia. PT Bank KEB Hana Indonesia.
Pada tanggal 29 Desember 2022, Perusahaan menandatangani On 29 December 2022, the Company entered into a Credit
Perjanjian Kredit (Installment Loan-6) sebesar Rp 2.000.000, Facility (Installment Loan-6) Agreement amounting to
penambahan limit fasilitas Kredit Multi Fasilitas sebesar Rp 2,000,000, additional Multi Credit Facility limits
Rp 300.000, dan mengalihkan jumlah fasilitas Kredit Multi amounting Rp 300,000, and transferred the amount of Multi
sebesar Rp 200.000 menjadi fasilitas (Installment Loan 5) Credit Facility limits amounting Rp 200,000 to Credit
dengan PT Bank Central Asia Tbk. Facility (Installment Loan 5) with PT Bank Central Asia Tbk.
Pada tanggal 20 Februari 2023 Perusahaan menandatangani On 20 February 2023, the Company entered into a Working
Perjanjian Kredit Modal Kerja sebesar USD 18.000.000 (nilai Capital Credit Agreement amounting to USD 18,000,000 (full
penuh) dengan PT Bank CTBC Indonesia. amount) with PT Bank CTBC Indonesia.
Pada tanggal 28 Februari 2023, Perusahaan menandatangani On 28 February 2023, the Company entered into a Working
Perjanjian Kredit Modal Kerja sebesar Rp 750.000 dengan Capital Credit Agreement amounting to Rp 750,000 with
PT Bank Mandiri (Persero) Tbk. PT Bank Mandiri (Persero) Tbk.
Pada tanggal 13 Maret 2023, Perusahaan menandatangani On 13 March 2023, the Company entered into a Credit
Perjanjian Kredit Pinjaman Tetap VII dengan PT Bank Pan Agreement Fixed Loan VII with PT Bank Pan Indonesia
Indonesia Tbk sebesar Rp 1.000.000. amounting to Rp 1,000,000.
Pada tanggal 18 April 2023, Perusahaan menandatangani On 18 April 2023, the Company entered into a Credit
Perjanjian Fasilitas Kredit Term Loan 4 sebesar Rp 400.000 Facility Agreement relating to Term Loan 4 with amount
dan Fasilitas Term Financing Musyarakah Mutanaqisoh 2 up to Rp 400,000 and Term Financing Musyarakah
sebesar Rp 100.000 dengan PT Bank Permata Tbk. Mutanaqisoh 2 Agreement amounting to Rp 100,000 with
PT Bank Permata Tbk.
Pada tanggal 2 Mei 2023, Perusahaan menandatangani On 2 May 2023, the Company entered into a Secured
perjanjian Fasilitas Sindikasi Pinjaman Berjangka dengan Syndicated Term Loan Facility Agreement amounting to
Jaminan (Term Loan) sebesar USD 150.000.000 (nilai penuh), USD 150,000,000 (full amount), whereas Standard Chartered
dimana Standard Chartered Bank (Hong Kong) Limited Bank (Hong Kong) Limited acting as the Facility Agent, and
bertindak sebagai Agen Fasilitas (the “Facility Agent”), dan PT Bank Central Asia Tbk acting as the Security Agent.
PT Bank Central Asia Tbk sebagai Agen Jaminan (the “Security
Agent”).
322 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 323
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/63 Exhibit E/63
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
13. PINJAMAN YANG DITERIMA (Lanjutan) 13. FUND BORROWINGS (Continued)
Pada tanggal 25 Mei 2023, Perusahaan menandatangani On 25 May 2023, the Company entered into a Facility
Perjanjian Fasilitas Pinjaman Transaksi Khusus 2 sebesar Agreement relating to Pinjaman Transaksi Khusus 2
Rp 500.000 dengan PT Bank CIMB Niaga Tbk. amounting to Rp 500,000 with PT Bank CIMB Niaga Tbk.
Pada tanggal 7 Juni 2023, Perusahaan menandatangani On 7 June 2023, the Company entered into a Working Capital
Perjanjian Kredit Modal Kerja sebesar Rp 300.000 dengan Credit Agreement amounting to Rp 300,000 with PT Bank
PT Bank Maspion Indonesia Tbk. Maspion Indonesia Tbk.
Pada tanggal 20 Desember 2023, Perusahaan menandatangani On 20 December 2023, the Company entered into a Working
Perjanjian Kredit Modal Kerja sebesar Rp 390.000 dengan Capital Credit Agreement amounting to Rp 390,000 with
PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk. PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk.
Pada tanggal 15 Februari 2024, Perusahaan menandatangani On 15 February 2024, the Company entered into a Working
Perjanjian Kredit Modal Kerja V sebesar Rp 300.000 dengan Capital Installment V Agreement amounting to Rp 300,000
PT Bank KEB Hana Indonesia. with PT Bank KEB Hana Indonesia.
Pada tanggal 8 Maret 2024, Perusahaan menandatangani On 8 March 2024, the Company entered into a Demand Loan
Perjanjian Kredit Demand Loan sebesar Rp 300.000 dengan Agreement amounting to Rp 300,000 with PT Bank OCBC NISP
PT Bank OCBC NISP Tbk. Tbk.
Pada tanggal 2 April 2024, Perusahaan menandatangani On 2 April 2024, the Company entered into a Working
Perjanjian Kredit Modal Kerja sebesar Rp 750.000 (Revolving) Capital Credit Agreement amounting to Rp 750,000
dengan PT Bank Mandiri (Persero) Tbk. (Revolving) with PT Bank Mandiri (Persero) Tbk.
Pada tanggal 14 Mei 2024, Perusahaan menandatangani On 14 May 2024, the Company entered into a Working Capital
Perjanjian Kredit Modal Kerja sebesar Rp 300.000 dengan Credit Agreement amounting to Rp 300,000 with PT Bank
PT Bank China Construction Bank Indonesia Tbk. China Construction Bank Indonesia Tbk.
Pada tanggal 11 Juni 2024, Perusahaan menandatangani On 11 June 2024, the Company entered into a Working
Perjanjian Kredit Modal Kerja sebesar Rp 300.000 dengan Capital Credit Agreement amounting to Rp 300,000 with
PT Bank DBS Indonesia. PT Bank DBS Indonesia.
Pada tanggal 24 Juni 2024, Perusahaan menandatangani On 24 June 2024, the Company entered into a Working
Perjanjian Kredit Modal Kerja sebesar Rp 750.000 (Revolving) Capital Credit Agreement amounting to Rp 750,000
dengan PT Bank Mandiri (Persero) Tbk. (Revolving) with PT Bank Mandiri (Persero) Tbk.
Pada tanggal 26 Juli 2024, Perusahaan menandatangani On 26 July 2024, the Company entered into a Working
Perjanjian Kredit Modal Kerja sebesar Rp 1.000.000 dengan Capital Credit Agreement amounting to Rp 1,000,000 with
PT Bank Danamon Indonesia Tbk. PT Bank Danamon Indonesia Tbk.
Pada tanggal 5 Agustus 2024, Perusahaan menandatangani On 5 August 2024, the Company entered into a Working
Perjanjian Kredit Modal Kerja sebesar USD 25.000.000 (nilai Capital Credit Agreement amounting to USD 25,000,000 (full
penuh) atau setara dengan Rp 400.000 dengan MUFG Bank amount) or equivalent to Rp 400,000 with MUFG Bank Ltd.,
Ltd., Jakarta Branch Jakarta Branch
Pada tanggal 3 September 2024, Perusahaan menandatangani On 3 September 2024, the Company entered into a Working
Perjanjian Kredit Modal Kerja sebesar Rp 390.000 dengan Capital Credit Agreement amounting to Rp 390,000 with
PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk. PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk.
Pada tanggal 30 Oktober 2024, Perusahaan menandatangani On 30 October 2024, the Company entered into a Investment
Perjanjian Kredit Investasi sebesar Rp 250.000 dengan PT Credit Agreement amounting to Rp 250,000 with PT Bank
Bank Mandiri (Persero) Tbk. Mandiri (Persero) Tbk.
Pada tanggal 19 November 2024, Perusahaan menandatangani On 19 November 2024, the Company entered into a Working
Perjanjian Kredit Modal Kerja sebesar Rp 480.000 dengan Capital Credit Agreement amounting to Rp 480,000 with
PT Bank Digital BCA. PT Bank Digital BCA.
Seluruh perjanjian di atas mencakup adanya pembatasan- All loan agreements include certain covenants which are
pembatasan tertentu yang umumnya diharuskan untuk normally required for such credit facilities, such as
fasilitas-fasilitas kredit tersebut, antara lain, pembatasan limitations to initiate merger or consolidation with other
untuk melakukan penggabungan usaha atau konsolidasi parties, obtain loans from other parties except loans
dengan pihak lain, mengadakan perjanjian pinjaman obtained in the normal course of business, or changes in its
dengan pihak lain selain yang timbul dalam kegiatan capital structure and/or articles of association without
usaha yang normal atau melakukan perubahan atas struktur notification to/prior written approval from creditors and
modal dan/atau anggaran dasar tanpa adanya maintenance of certain agreed financial ratios.
pemberitahuan/persetujuan tertulis dari kreditur dan
mempertahankan rasio-rasio keuangan tertentu.
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 323
Page 324
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/64 Exhibit E/64
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
13. PINJAMAN YANG DITERIMA (Lanjutan) 13. FUND BORROWINGS (Continued)
Pembayaran bunga dan pokok pinjaman telah dibayarkan Interest and principal loan payments have been paid by
oleh Perusahaan sesuai dengan jadwal. Pembayaran pokok the Company on schedule. Payment of principal borrowings
pinjaman untuk tahun yang berakhir 31 Desember 2024 dan for the year ended 31 December 2024 and 2023 amounting
2023 adalah masing-masing sebesar Rp 8.160.516 dan to Rp 8,160,516 and Rp 6,506,468, respectively.
Rp 6.506.468.
Atas pinjaman-pinjaman yang diterima Perusahaan, For loans received by the Company, generally creditors
umumnya para kreditur mensyaratkan adanya pembatasan- require certain restrictions and obligations that must be
pembatasan dan kewajiban tertentu yang harus dipenuhi fulfilled by the Company, which generally include:
oleh Perusahaan, yang pada umumnya meliputi:
• Menjaga rasio jumlah pencadangan kerugian penurunan • Maintain the ratio of the amount of provision for
sesuai dengan standar akuntansi yang berlaku, impairment losses in accordance with applicable
accounting standards,
• Menyerahkan laporan keuangan tahunan yang telah • Submit audited annual financial statements to the Bank
diaudit kepada Bank selambat-lambatnya 4 (empat) bulan no later than 4 (four) months from the end of the
sejak berakhirnya tahun buku yang bersangkutan dan relevant financial year and quarterly financial
laporan keuangan kuartalan paling lambat 60 hari sejak statements no later than 60 days from the end of each
berakhirnya tiap kuartal, quarter,
• Menjaga rasio jaminan atas pinjaman pada saat ini • Maintain a ratio for loans at a maximum of 70% of
maksimal 70% dari outstanding pinjaman, outstanding loans,
• Menjaga gearing ratio (rasio antara pinjaman dengan • Maintain the gearing ratio (ratio of loans with own
modal sendiri) tidak lebih besar dari 5 (lima) kali sampai capital) not greater than 5 (five) times to 10 (ten) times,
dengan 10 (sepuluh) kali,
• Menjaga Non-Performing Loan (NPL) Ratio tidak melebihi • Maintaining the Non-Performing Loan (NPL) Ratio not
5% dari total piutang pembiayaan, exceeding 5% of the total financing receivables,
• Dampak mata uang yang tidak dilindungi secara • The impact of an unprotected currency as a whole is a
keseluruhan maksimum 25% dari jumlah ekuitas secara maximum of 25% of the total equity,
keseluruhan,
• Ekuitas diharuskan lebih besar dari Rp 1.000.000 atau • Equity is required to be greater than Rp 1,000,000 or
melakukan pemberitahuan secara tertulis kepada Bank, notify the Bank in writing, one of which is if there is a
salah satunya apabila terdapat perubahan komposisi change in the composition of the majority shareholders,
pemegang saham mayoritas, perubahan susunan anggota a change in the composition of commissioners and
komisaris dan direksi, perubahan bidang atau jenis directors, a change in the field or type of business
kegiatan usaha Perusahaan, serta apabila Perusahaan activities of the Company, and if the Company dissolves,
melakukan pembubaran, penggabungan usaha dan atau merges and/or merges with other companies
peleburan dengan Perusahaan lain.
Kepatuhan atas Syarat Pinjaman Compliance with Loan Covenants
Pada tanggal 31 Desember 2024 dan 2023, Perusahaan telah As of 31 December 2024 and 2023, the Company have
memenuhi seluruh persyaratan yang disebutkan dalam complied with all the requirements mentioned in the loan
perjanjian fasilitas-fasilitas pinjaman dengan kreditur. facility agreements with creditors.
14. PERPAJAKAN 14. TAXATION
a. Utang pajak a. Taxes payable
31 Desember/December
2024 2023
Pajak Penghasilan: Income Taxes:
Pasal 21 24.340 33.430 Article 21
Pasal 23 957 950 Article 23
Pasal 25 32.481 23.542 Article 25
Pasal 26 1.109 61.258 Article 26
Pasal 4(2) – Final 202 42 Article 4(2) – Final
Pajak Pertambahan Nilai (PPN) 2.904 3.815 Value Added Tax (VAT)
Pasal 29 tahun 2023 - 76.680 Article 29 of 2023
Taksiran Pajak Penghasilan Badan Estimated Current Income Tax
(Pasal 29) tahun 2024 111.298 - (Article 29) of fiscal year 2024
Jumlah 173.291 199.717 Total
324 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 325
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/65 Exhibit E/65
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
14. PERPAJAKAN (Lanjutan) 14. TAXATION (Continued)
b. Beban pajak penghasilan b. Income tax expenses
31 Desember/December
2024 2023
Pajak kini Current tax
Perusahaan 366.601 342.193 The Company
Tangguhan Deferred
Perusahaan (3.315) 34.025 The Company
Entitas anak (3.933) (2.538) Subsidiary
Penyesuaian periode lalu - Perusahaan 2.587 7.773 Prior years adjustment – The Company
Jumlah 361.940 381.453 Total
Rekonsiliasi antara laba sebelum pajak, sebagaimana yang A reconciliation between profit before tax, as presented
disajikan dalam laporan laba rugi dan penghasilan in the consolidated statement of profit or loss and other
komprehensif lain konsolidasian, dengan taksiran laba kena comprehensive income, and estimated taxable profit
pajak untuk tahun yang berakhir pada tanggal 31 Desember for the for the year ended 31 December 2024 and 2023
2024 dan 2023 adalah sebagai berikut: are as follows:
31 Desember/December
2024 2023
Laba sebelum pajak menurut Profit before tax per
laporan laba rugi dan consolidated statements of
penghasilan komprehensif profit or loss and other
lain konsolidasian 1.926.614 2.025.252 comprehensive income
Rugi entitas anak sebelum
pajak penghasilan 17.614 11.409 Loss before tax of subsidiary
Laba sebelum pajak - Perusahaan 1.944.228 2.036.661 Profit before tax - the Company
Beda tetap: Permanent differences:
Pendapatan keuangan yang Finance income subjected
pajaknya bersifat final (54.371) (83.120) to final tax
Beban lain-lain 22.176 26.554 Other expenses
Jumlah beda tetap (32.195) (56.566) Total permanent differences
Beda temporer: Temporary differences:
Gaji dan imbalan pasca- kerja 21.135 (39.698) Salaries and post-employment benefits
Cadangan kerugian penurunan Allowance for impairment losses
nilai piutang pembiayaan of financing receivables and
dan piutang lain-lain 1.113.244 1.048.943 other receivables
Penghapusan piutang (1.027.345) (1.083.515) Receivables written-off
Penyusutan aset tetap (24.513) (44.133) Depreciation of fixed assets
Keuntungan neto atas
penjualan aset tetap (4.675) (7.208) Net gain on sale of fixed assets
Amortisasi biaya emisi surat Amortization of securities
berharga yang diterbitkan 2.102 (5.715) issuance cost
Biaya transaksi yang belum
diamortisasi atas Unamortized transaction cost
pinjaman yang diterima (141) (3.697) on fund borrowings
Biaya transaksi yang belum
diamortisasi atas Unamortized transaction cost
piutang pembiayaan (62.360) (44.053) on financing receivables
Jumlah beda temporer 17.447 (179.076) Total temporary differences
Taksiran laba kena pajak 1.929.480 1.801.019 Estimated taxable profit
Tarif pajak 19% 19% Tax rate
Taksiran beban pajak kini 366.601 342.193 Estimated current tax expense
Dikurangi: pajak dibayar dimuka (255.303) (265.513) Less: prepaid taxes
Taksiran utang pajak kini - Estimated current tax payable –
Perusahaan 111.298 76.680 The Company
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 325
Page 326
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/66 Exhibit E/66
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
14. PERPAJAKAN (Lanjutan) 14. TAXATION (Continued)
b. Beban pajak penghasilan (Lanjutan) b. Income tax expenses (Continued)
Perhitungan pajak penghasilan badan untuk tahun yang The corporate income tax calculation for the year
berakhir pada tanggal 31 Desember 2024 adalah suatu ended 31 December 2024 was a preliminary estimate
perhitungan sementara yang dibuat untuk tujuan made for accounting purposes and is subject to revision
akuntansi dan dapat berubah pada saat Perusahaan when the Company filed its Annual Corporate Income
menyampaikan Surat Pemberitahuan (SPT) Tahunan PPh Tax Return (“CIT”).
Badan.
Perhitungan pajak penghasilan badan untuk tahun yang The corporate income tax calculation for the year
berakhir pada tanggal 31 Desember 2023 telah sesuai ended 31 December 2023 has comform with its Annual
dengan Surat Pemberitahuan (SPT) Tahunan PPh Badan Corporate Income Tax Return (“CIT”) filed by the
Perusahaan. Company
c. Pajak tangguhan c. Deferred tax
Rekonsiliasi antara beban pajak penghasilan dihitung A reconciliation between the income tax expense
dengan menggunakan tarif pajak yang berlaku atas laba calculated by applying the applicable tax rates to
kena pajak, dengan beban pajak penghasilan taxable profit, and the income tax expenses as
sebagaimana disajikan dalam laporan laba rugi dan presented in the statement of profit or loss and other
penghasilan komprehensif lain untuk tahun yang berakhir comprehensive income for the year ended 31 December
pada tanggal 31 Desember 2024 dan 2023 adalah sebagai 2024 and 2023 are as follows:
berikut:
31 Desember/December
2024 2023
Laba sebelum pajak menurut Profit before tax per
laporan laba rugi dan consolidated statements
penghasilan komprehensif of profit or loss and other
lain konsolidasian 1.926.614 2.025.252 comprehensive income
Rugi entitas anak sebelum pajak 17.614 11.409 Loss before tax of subsidiary
Laba sebelum pajak - Perusahaan 1.944.228 2.036.661 Profit before tax - the Company
Beban pajak dengan tarif pajak Tax expense at the applicable
tunggal yang berlaku 369.403 386.966 single tax rate
Pengaruh pajak penghasilan atas: Tax effects on:
Beda tetap pada tarif pajak Permanent differences at the
tunggal yang berlaku (6.117) (10.748) applicable single tax rate
Penyesuaian periode lalu 2.587 7.773 Prior years adjustment
Jumlah 365.873 383.991 Total
326 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 327
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/67 Exhibit E/67
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
14. PERPAJAKAN (Lanjutan) 14. TAXATION (Continued)
c. Pajak tangguhan (Lanjutan) c. Deferred tax (Continued)
Pengaruh pajak tangguhan atas beda temporer yang The deferred tax effects of the significant temporary
signifikan antara laporan komersial dan fiskal terdiri differences between commercial and fiscal reporting are
dari: as follows:
Dikreditkan
(dibebankan)
ke ekuitas dari
penghasilan
Dikreditkan komprehensif
(dibebankan) lain/
ke laporan Credited
laba rugi/ (charged) to
Credited equity from
31 Desember/ (charged) to other 31 Desember/
December statement of comprehensive December
2023 profit or loss income 2024
Aset pajak tangguhan Deferred tax assets
Cadangan kerugian Allowance for
penurunan nilai piutang 88.173 16.321 - 104.494 impairment losses on receivables
Imbalan pasca-kerja 27.108 3.818 (2.454) 28.472 Post-employment benefits
Beban akrual 37.400 308 - 37.708 Accrued expenses
Penyusutan aset tetap Depreciation of fixed assets and
dan amortisasi aset takberwujud (19.201) (5.546) - (24.747) amortization of intangible assets
Biaya transaksi yang belum
diamortisasi atas Unamortized transaction cost
piutang pembiayaan 3.664 (11.848) - (8.184) on financing receivables
Biaya emisi surat berharga
yang diterbitkan yang Unamortized securities
belum diamortisasi (1.753) 399 - (1.354) issued cost
Biaya transaksi yang belum
diamortisasi atas Unamortized transaction cost
pinjaman yang diterima (6.772) (27) - (6.799) on fund borrowings
Penghasilan komprehensif lain (158) - 15.501 15.343 Other comprehensive income
Rugi fiskal 3.502 3.824 - 7.326 Fiscal loss
Aset pajak tangguhan – neto 131.963 7.249 13.047 152.259 Deferred tax assets – net
Dikreditkan
(dibebankan)
ke ekuitas dari
penghasilan
Dikreditkan komprehensif
(dibebankan) lain/
ke laporan Credited
laba rugi/ (charged) to
Credited equity from
31 Desember/ (charged) to other 31 Desember/
December statement of comprehensive December
2022 profit or loss income 2023
Aset pajak tangguhan Deferred tax assets
Cadangan kerugian Allowance for
penurunan nilai piutang 94.742 (6.569 ) - 88.173 impairment losses on receivables
Imbalan pasca-kerja 21.206 3.916 1.986 27.108 Post-employment benefits
Beban akrual 48.845 (11.445 ) - 37.400 Accrued expenses
Penyusutan aset tetap Depreciation of fixed assets and
dan amortisasi aset takberwujud (9.446) (9.755 ) - (19.201) amortization of intangible assets
Biaya transaksi yang belum
diamortisasi atas Unamortized transaction cost
piutang pembiayaan 12.034 (8.370 ) - 3.664 on financing receivables
Biaya emisi surat berharga
yang diterbitkan yang Unamortized securities
belum diamortisasi (667) (1.086 ) - (1.753) issued cost
Biaya transaksi yang belum
diamortisasi atas Unamortized transaction cost
pinjaman yang diterima (6.070) (702 ) - (6.772) on fund borrowings
Penghasilan komprehensif lain 2.407 - (2.565) (158) Other comprehensive income
Rugi fiskal 978 2.524 - 3.502 Fiscal loss
Aset pajak tangguhan – neto 164.029 (31.487 ) (579) 131.963 Deferred tax assets – net
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 327
Page 328
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/68 Exhibit E/68
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
14. PERPAJAKAN (Lanjutan) 14. TAXATION (Continued)
c. Pajak tangguhan (Lanjutan) c. Deferred tax (Continued)
Manajemen berkeyakinan bahwa laba fiskal pada masa The management believes that future taxable profit
datang akan memadai untuk mengkompensasikan will be sufficient to be compensated against the
perbedaan temporer yang dapat dikurangkan. deductible of temporary differences.
d. Administrasi d. Administration
Berdasarkan Undang-Undang Perpajakan yang berlaku di Based on the Taxation Laws in Indonesia, the Company
Indonesia, Perusahaan menghitung, menetapkan dan submits tax returns on the basis of self assessment. The
membayar sendiri besarnya jumlah pajak yang terutang. Director General of Tax (DGT) may assess or amend
Direktur Jenderal Pajak ("DJP") dapat menetapkan atau taxes within 5 (five) years of the time the tax becomes
mengubah kewajiban pajak dalam batas waktu 5 (lima) due. Amendments to tax obligations of the Company are
tahun sejak saat terutangnya pajak. Koreksi terhadap recorded when an assessment is received or, if appealed
kewajiban pajak Perusahaan diakui pada saat Surat against, when the result of the appeal is determined.
Ketetapan Pajak diterima atau jika Perusahaan
mengajukan keberatan, pada saat keputusan atas
keberatan Perusahaan tersebut telah ditetapkan.
Pada tanggal 18 Juni 2020, PP No. 56/2015 tentang On 18 June 2020, PP No. 56/2015 concerning the
Perubahan atas Peraturan Pemerintah No. 77 Tahun 2013, Amendment of Government Regulation No. 77 Year
dicabut dan dinyatakan tidak berlaku, digantikan dengan 2013, revoked and declared invalid, replaced by
Peraturan Pemerintah No. 30 Tahun 2020 (“PP No. Government Regulation No. 30 Year 2020 ("PP No.
30/2020”) tentang “Penurunan Tarif Pajak Penghasilan 30/2020") on “Income Tax Rate Reduction Corporate
Bagi Wajib Pajak Badan Dalam Negeri yang Berbentuk Taxpayers in the Form of Publicly-listed Companies".
Perseroan Terbuka”.
PP No. 30/2020 ini mengatur perseroan terbuka dalam PP No. 30/2020 regulates publicly-listed companies in
negeri di Indonesia dapat memperoleh penurunan tarif Indonesia can obtain the reduced income tax rate of
pajak penghasilan sebesar 3% lebih rendah dari tarif pajak 3% lower than the income tax rate corporate taxpayer
penghasilan Wajib Pajak badan dalam negeri, dengan in the country, provided they meet the prescribed
memenuhi kriteria yang ditentukan, yaitu paling sedikit criteria, ie at least 40% of the total paid-up shares
40% dari jumlah keseluruhan saham yang disetor dicatat recorded to be traded on the stock exchanges in
untuk diperdagangkan di bursa efek di Indonesia; saham Indonesia; the shares must be held by at least 300
tersebut harus dimiliki oleh paling sedikit Parties; each Party may only have a share of less than
300 Pihak; masing-masing Pihak hanya boleh memiliki 5% of the total shares issued and fully paid; and must
saham kurang dari 5% dari keseluruhan saham yang be met in a short time at least 183 calendar days within
ditempatkan dan disetor penuh; dan harus dipenuhi a fiscal year.
dalam waktu paling singkat 183 hari kalender dalam
jangka waktu satu tahun pajak.
Pada tanggal 29 Oktober 2021, Pemerintah menerbitkan On 29 October 2021, the Government issue Law of the
Undang-Undang Republik Indonesia No. 7 Tahun 2021 Republic of Indonesia No. 7 Year 2021 concerning
tentang Harmonisasi Peraturan Perpajakan (“UU HPP”). Harmonisation of Taz Regulations (“UU HPP”). The
Aturan tersebut menetapkan tarif pajak penghasilan regulation has stipulated the income tax rate for
wajib pajak dalam negeri dan bentuk usaha tetap sebesar domestic taxpayer and business establishment of 22%
22% yang mulai berlaku pada Tahun Pajak 2022 dan which will be effective from the Fiscal Year 2022
seterusnya. Dengan demikian, penetapan tarif pajak onwards. Hence, the previously tax rate determination
sebelumnya sebesar 20% menjadi tidak berlaku setelah of 20% will be invalid after the ratification of this Law.
Undang-Undang ini disahkan.
Pada tanggal 31 Desember 2024 dan 2023, Perusahaan As of 31 December 2024 and 2023, the Company has met
telah memenuhi persyaratan di atas (sesuai “UU HPP” dan requirements (“UU HPP” and “PP No. 30/2020”) to
“PP No.30/2020”) untuk mendapatkan penurunan tarif obtain the reduced income tax rate of 3%, so that the
sebesar 3%, sehingga menggunakan tarif 19% untuk rate using of 19% for corporate income tax calculation.
perhitungan PPh Badan.
Sesuai dengan peraturan perpajakan di Indonesia, Under the taxation laws of Indonesia, the Company
Perusahaan melaporkan/menyetorkan pajak berdasarkan submits tax returns on the basis of self-assesment.
sistem self-assesment. Fiskus dapat menetapkan atau The tax authorities may assess or amend taxes within
mengubah pajak-pajak tersebut dalam jangka waktu the statute of limitations, under prevailing regulations.
tertentu sesuai dengan peraturan yang berlaku.
328 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 329
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/69 Exhibit E/69
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
15. SURAT BERHARGA YANG DITERBITKAN 15. SECURITIES ISSUED
31 Desember/December
2024 2023
Nilai nominal: Nominal value:
Obligasi Berkelanjutan V BFI Finance Obligasi Berkelanjutan V BFI Finance
Indonesia Tahap I Tahun 2021 - 400.000 Indonesia Tahap I Tahun 2021
Obligasi Berkelanjutan V BFI Finance Obligasi Berkelanjutan V BFI Finance
Indonesia Tahap II Tahun 2021 - 530.000 Indonesia Tahap II Tahun 2021
Obligasi Berkelanjutan V BFI Finance Obligasi Berkelanjutan V BFI Finance
Indonesia Tahap III Tahun 2023 483.000 1.100.000 Indonesia Tahap III Tahun 2023
Obligasi Berkelanjutan V BFI Finance Obligasi Berkelanjutan V BFI Finance
Indonesia Tahap IV Tahun 2023 1.010.000 1.600.000 Indonesia Tahap IV Tahun 2023
Obligasi Berkelanjutan V BFI Finance Obligasi Berkelanjutan V BFI Finance
Indonesia Tahap V Tahun 2023 850.000 1.100.000 Indonesia Tahap V Tahun 2023
Obligasi Berkelanjutan VI BFI Finance Obligasi Berkelanjutan VI BFI Finance
Indonesia Tahap I Tahun 2024 600.000 - Indonesia Tahap I Tahun 2024
Jumlah nilai nominal 2.943.000 4.730.000 Total nominal value
Dikurangi: Less:
Biaya emisi Obligasi yang
belum diamortisasi (7.123) (9.225) Unamortized Bonds issuance cost
Jumlah – neto 2.935.877 4.720.775 Total - net
31 Desember/December
2024 2023
Utang Obligasi sesuai jatuh temponya: Bonds payable by maturity profile:
• < 1 tahun 712.000 2.387.000 < 1 year •
• 1-2 tahun 1.931.000 612.000 1-2 years •
• 2-3 tahun 300.000 1.731.000 2-3 years •
2.943.000 4.730.000
Amortisasi biaya emisi Obligasi yang Amortization of Bonds issuance costs
dibebankan ke laporan charged to the consolidated
laba rugi dan penghasilan statement of profit or loss
komprehensif lain and other comprehensive
konsolidasian (Catatan 26) 6.283 7.924 income (Note 26)
Obligasi Berkelanjutan V BFI Finance Indonesia Tahap I Obligasi Berkelanjutan V BFI Finance Indonesia Tahap I
Tahun 2021 Tahun 2021
Obligasi/ Nilai nominal/ Tingkat bunga tetap/ Jatuh tempo/ Status pembayaran/ Peringkat/
Bonds Nominal value Fixed interest rate Due date Payment status Rating
Seri/Serial A Rp 200.000 6,00% 8 Juni/June 2022 Lunas/Paid A+(idn)
Seri/Serial B Rp 400.000 7,75% 28 Mei/May 2024 Lunas/Paid AA-(idn)
Obligasi Berkelanjutan V BFI Finance Indonesia Tahap II Obligasi Berkelanjutan V BFI Finance Indonesia Tahap II
Tahun 2021 Tahun 2021
Obligasi/ Nilai nominal/ Tingkat bunga tetap/ Jatuh tempo/ Status pembayaran/ Peringkat/
Bonds Nominal value Fixed interest rate Due date Payment status Rating
Seri/Serial A 210.000 5,25% 16 Agustus/August 2022 Lunas/Paid A+(idn)
Seri/Serial B 260.000 6,25% 6 Agustus/August 2023 Lunas/Paid AA-(idn)
Seri/Serial C 530.000 7,25% 6 Agustus/August 2024 Lunas/Paid AA-(idn)
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 329
Page 330
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/70 Exhibit E/70
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
15. SURAT BERHARGA YANG DITERBITKAN (Lanjutan) 15. SECURITIES ISSUED (Continued)
Obligasi Berkelanjutan V BFI Finance Indonesia Tahap III Obligasi Berkelanjutan V BFI Finance Indonesia Tahap III
Tahun 2023 Tahun 2023
Obligasi/ Nilai nominal/ Tingkat bunga tetap/ Jatuh tempo/ Status pembayaran/ Peringkat/
Bonds Nominal value Fixed interest rate Due date Payment status Rating
Seri/Serial A 617.000 6,25% 7 Februari/ Lunas/Paid AA-(idn)
February 2024
Seri/Serial B 227.000 7,00% 27 Januari/January 2025 Belum jatuh tempo/Not yet due AA-(idn)
Seri/Serial C 256.000 7,375% 27 Januari/January 2026 Belum jatuh tempo/Not yet due AA-(idn)
Obligasi Berkelanjutan V BFI Finance Indonesia Tahap IV Obligasi Berkelanjutan V BFI Finance Indonesia Tahap IV
Tahun 2023 Tahun 2023
Obligasi/ Nilai nominal/ Tingkat bunga tetap/ Jatuh tempo/ Status pembayaran/ Peringkat/
Bonds Nominal value Fixed interest rate Due date Payment status Rating
Seri/Serial A 590.000 6,10% 24 April 2024 Lunas/Paid AA-(idn)
Seri/Serial B 385.000 7,00% 14 April 2025 Belum jatuh tempo/Not yet due AA-(idn)
Seri/Serial C 625.000 7,15% 14 April 2026 Belum jatuh tempo/Not yet due AA-(idn)
Obligasi Berkelanjutan V BFI Finance Indonesia Tahap V Obligasi Berkelanjutan V BFI Finance Indonesia Tahap V
Tahun 2023 Tahun 2023
Obligasi/ Nilai nominal/ Tingkat bunga tetap/ Jatuh tempo/ Status pembayaran/ Peringkat/
Bonds Nominal value Fixed interest rate Due date Payment status Rating
Seri/Serial A 250.000 6,00% 25 Juni/June 2024 Lunas/Paid AA-(idn)
Seri/Serial B 850.000 7,00% 15 Juni/June 2026 Belum jatuh tempo/Not yet due AA-(idn)
Obligasi Berkelanjutan VI BFI Finance Indonesia Tahap I Obligasi Berkelanjutan VI BFI Finance Indonesia Tahap I
Tahun 2024 Tahun 2024
Obligasi/ Nilai nominal/ Tingkat bunga tetap/ Jatuh tempo/ Status pembayaran/ Peringkat/
Bonds Nominal value Fixed interest rate Due date Payment status Rating
Seri/Serial A 100.000 6,60% 5 Oktober/October 2025 Belum jatuh tempo/Not yet due AA-(idn)
Seri/Serial B 200.000 6,80% 25 September 2026 Belum jatuh tempo/Not yet due AA-(idn)
Seri/Serial C 300.000 6,90% 25 September 2027 Belum jatuh tempo/Not yet due AA-(idn)
Sesuai dengan Perjanjian Perwaliamanatan Obligasi Pursuant to the Bonds Trustee agreement for Obligasi
Berkelanjutan V BFI Finance Indonesia, Perusahaan Berkelanjutan V BFI Finance Indonesia, the Company
memberikan jaminan fidusia berupa piutang pembiayaan provides collateral with fiduciary transfer of financing
dengan kategori lancar sebesar 50% untuk Obligasi receivables amounting to 50% for Obligasi Berkelanjutan V
Berkelanjutan V BFI Finance Indonesia, dari nilai pokok BFI Finance Indonesia, of the outstanding principal amount
Obligasi yang terutang (Catatan 5). of the Bonds (Note 5).
Sesuai dengan Perjanjian Perwaliamanatan Obligasi Pursuant to the Bonds Trustee Agreement for Obligasi
Berkelanjutan VI BFI Finance Indonesia, Obligasi yang Berkelanjutan V BFI Finance Indonesia, the related Bonds are
diterbitkan tidak dijamin dengan jaminan khusus berupa not guaranteed by special collateral in the form of objects
benda atau pendapatan atau aset lain milik Perusahaan dalam or income or other assets belonging to the Company in any
bentuk apapun serta tidak dijamin oleh pihak manapun. form and are not guaranteed by any party.
Selain itu, selama pokok Obligasi belum dilunasi, Perusahaan Moreover, during the time that the Bonds principals are still
tidak diperkenankan antara lain, membagi dividen dalam hal outstanding, the Company is not allowed to, among others,
Perusahaan lalai dalam membayar jumlah terutang obligasi, declare dividends in the event that the Company defaults in
melakukan penggabungan usaha kecuali dilakukan pada Bonds obligations, merge unless performed on the same
bidang usaha yang sama, dan menjual atau mengalihkan lebih business, and sells or hand over more than 50% of the
dari 50% aset Perusahaan, kecuali dalam rangka kegiatan Company’s assets, except for normal operation activity. The
usaha sehari-hari. Perusahaan telah memenuhi batasan- Company has complied with the covenants on the trustee
batasan yang diwajibkan dalam perjanjian tersebut. agreements.
Semua pembayaran pokok Obligasi dilakukan secara penuh All Bonds principal is paid in full as they fall due. All Bonds
pada saat jatuh tempo. Pembayaran bunga Obligasi dilakukan interest is paid on quarterly basis.
secara triwulan.
330 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 331
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/71 Exhibit E/71
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
15. SURAT BERHARGA YANG DITERBITKAN (Lanjutan) 15. SECURITIES ISSUED (Continued)
Pada tanggal 27 Februari 2024, Perusahaan telah menerima On 27 February 2024, the Company has received a letter
surat dari PT Fitch Ratings Indonesia (“Fitch”) from PT Fitch Ratings Indonesia (“Fitch”)
No. 22/DIR/RATLTR/II/2024 yang menyatakan bahwa Fitch No. 22/DIR/RATLTR/II/2024 affirming the national long
mengafirmasi peringkat nasional jangka panjang “AA-(idn)” term rating of the Company at “AA-(idn)” with stable
dengan outlook stabil. Peringkat Nasional 'AA' menunjukkan outlook. ‘AA’ National Ratings denote expectations of a very
ekspektasi tingkat risiko gagal bayar yang sangat rendah low level of default risk relative to other issuers or
dibandingkan dengan emiten atau obligasi lain di negara atau obligations in the same country or monetary union.
serikat moneter yang sama.
16. BEBAN AKRUAL 16. ACCRUED EXPENSES
31 Desember/December
2024 2023
Bonus dan tunjangan lainnya 200.960 198.843 Bonus and other allowances
Bunga 56.864 75.090 Interest
Jasa tenaga ahli 3.249 8.449 Professional fees
Lain-lain 40.503 41.739 Others
Jumlah 301.576 324.121 Total
17. LIABILITAS IMBALAN PASCA-KERJA 17. POST-EMPLOYMENT BENEFIT LIABILITIES
Perusahaan memberikan imbalan pasca-kerja kepada The Company is required to provide post-employment
karyawannya pada saat pemutusan hubungan kerja atau pada benefits to its employees when their employment is
saat karyawan menyelesaikan masa kerjanya. Imbalan pasca- terminated or when they retire. These benefits are
kerja ini diberikan terutama berdasarkan masa kerja dan primarily based on years of service and the employees’
kompensasi karyawan pada saat pemutusan hubungan kerja compensation at termination or retirement.
atau selesainya masa kerja.
Perusahaan dan Entitas Anaknya menyelenggarakan program The Company and Its Subsidiary have defined contribution
pensiun untuk karyawan tetap yang sudah memenuhi kriteria pension program covering its qualified permanent
yang ditetapkan Perusahaan, dimana program pensiun ini employees who meets the Company’s criteria, where the
dikelola dan diadministrasikan oleh PT Asuransi Jiwa contribution pension program is defined and administered
Manulife Indonesia. by PT Asuransi Jiwa Manulife Indonesia.
Imbalan pasca-kerja meliputi pensiun, uang pisah, uang Post-employment benefits include pensions, severance
penghargaan dan imbalan lainnya (Imbalan pasca-kerja pay, service pay and other benefits (Post-employment
(“IPK”) sesuai dengan Undang-Undang Cipta Kerja benefits (“PEB”) as stipulated under the Job Creation
No.11/2020, Peraturan Pemerintah No.35/2021 Law No.11/2020, Government Regulation No.35/2021
(“PP 35/2021”) dan Program Pensiun Iuran Pasti (PPIP)) (“GR 35/2021”) and Defined Contribution (DC) Plan)
dihitung oleh Steven & Mourits, aktuaris independen, dalam is calculated by Steven & Mourits, an independent actuary,
laporannya bertanggal 14 Januari 2025 dan 17 Januari 2024 in its report dated 14 January 2025 and 17 January 2024 for
masing-masing untuk tahun yang berakhir pada tanggal the year ended 31 December 2024 and 2023, respectively, by
31 Desember 2024 dan 2023, dengan menggunakan metode using the Projected Unit Credit method. Number of
Projected Unit Credit. Jumlah karyawan yang berhak employees entitled for the employee benefits for the year
memperoleh imbalan kerja tersebut untuk tahun yang ended 31 December 2024 and 2023 was 5,734 and 6,293
berakhir pada tanggal 31 Desember 2024 dan 2023 adalah employees, respectively.
5.734 dan 6.293 karyawan.
Rincian liabilitas atas imbalan pasca-kerja yang diakui di The details of the liabilities for post-employment benefits
laporan posisi keuangan konsolidasian adalah sebagai recognized in the consolidated statements of financial
berikut: position are as follows:
31 Desember/December
2024 2023
Nilai kini liabilitas imbalan pasti 225.141 217.639 Present value of defined benefit obligation
Nilai wajar aset program (75.066) (74.684) Fair value of plan asset
Imbalan pasca-kerja 150.075 142.955 Post-employment benefits
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 331
Page 332
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/72 Exhibit E/72
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
17. LIABILITAS IMBALAN PASCA-KERJA (Lanjutan) 17. POST-EMPLOYMENT BENEFITS LIABILITIES (Continued)
Mutasi nilai kini liabilitas imbalan pasti yang diakui pada Movements in the present value of defined benefit
laporan posisi keuangan konsolidasian sebagai berikut: obligation recognised in the consolidated statement of
financial position are as follows:
31 Desember/December
2024 2023
Nilai kini kewajiban imbalan Present value of defined benefit obligation
pasti pada awal tahun 217.639 180.474 at beginning of year
Biaya jasa kini 25.458 23.451 Current service cost
Biaya jasa lalu atas kurtailmen - (473 ) Past service cost due to curtailment
Biaya bunga 13.843 12.470 Interest cost
Pembayaran imbalan kerja Benefit payment from Company
(sesuai provisi yang dihitung) (8.770 ) (4.451 ) (based on computed provision)
Pembayaran imbalan aset program (5.602 ) (2.685 ) Benefit payment from plan assets
Penyesuaian liabilitas akibat Liability assumed due to recognition of
pengakuan masa kerja lalu 540 733 past services
Pengukuran kembali atas nilai kini Remeasurement of present value of
liabilitas imbalan pasti: defined benefit obligation:
(Keuntungan) kerugian atas (Gain) loss from changes in financial
perubahan asumsi ekonomis (7.147 ) 6.021 assumption
(Keuntungan) kerugian atas (Gain) loss from experience
penyesuaian pengalaman (10.820) 2.099 adjustments
Nilai kini kewajiban imbalan pasti Present value of defined benefit
pada akhir tahun 225.141 217.639 obligation at end of year
31 Desember/December
2024 2023
Nilai wajar aset program pada Fair value of plan assets at
awal tahun 74.684 68.589 beginning of year
Pendapatan bunga atas aset program 5.054 5.128 Interest income on plan assets
Iuran Perusahaan 6.000 6.000 Company contribution
Pembayaran imbalan dari aset program (5.602 ) (2.685 ) Benefit payment from plan assets
Imbal hasil aset program (tidak termasuk Return on plan assets (excluding
pendapatan bunga) (5.070) (2.348 ) interest income)
Nilai wajar aset program pada akhir tahun 75.066 74.684 Fair value of plan assets at end of year
31 Desember/December
2024 2023
Saldo awal 142.955 111.885 Beginning balance
Iuran Perusahaan yang dibayarkan (6.000 ) (6.000 ) Contribution plan of the Company
Pembayaran imbalan kerja (41.627) (14.320) Benefits paid by the Company
Beban yang diakui pada laba rugi 67.644 40.922 Expense recognized in profit loss
(Pendapatan) beban yang diakui pada (Income) expense recognized in other
penghasilan komprehensif lain (12.897 ) 10.468 comprehensive income
Liabilitas yang diakui di laporan Liability recognized in statement of
posisi keuangan 150.075 142.955 financial position
332 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 333
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/73 Exhibit E/73
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
17. LIABILITAS IMBALAN PASCA-KERJA (Lanjutan) 17. POST-EMPLOYMENT BENEFITS LIABILITIES (Continued)
Jumlah yang diakui pada laporan laba rugi dan penghasilan The amounts recognised in the consolidated statement of
komprehensif lain konsolidasian adalah sebagai berikut: profit or loss and other comprehensive income are as
follows:
31 Desember/December
2024 2023
Biaya jasa kini 25.458 23.451 Current service cost
Biaya jasa lalu atas kurtailmen - (473) Past service cost due to curtailment
Biaya bunga 13.843 12.470 Interest cost
Pendapatan bunga atas aset program (5.054) (5.128 ) Interest income on plan assets
Pengakuan liabilitas atas pengakuan Liabilities assumed due to recognition of
masa kerja lalu 540 733 past services
Biaya terminasi oleh Perusahaan 32.857 9.869 Termination benefit by Company
Jumlah beban (Catatan 25) 67.644 40.922 Total expenses (Note 25)
Riwayat penyesuaian pengalaman adalah sebagai berikut: The history of experience adjustment are as follows:
31 Desember/December
2024 2023 2022 2021 2020
Nilai kini kewajiban Present value of defined
imbalan pasti (225.141) (217.639) (180.474) (181.820 ) (215.418) benefit obligation
Nilai wajar aset program 75.066 74.684 68.589 66.363 61.207 Fair value of plan assets
Defisit (150.075) (142.955) (111.885) (115.457) (154.211) Deficit
Penyesuaian pengalaman Experience adjustment on
liabilitas program 10.820 (2.099) (6.588) 13.185 20.906 plan liabilities
Penyesuaian pengalaman Experience adjustment on
aset program (5.070) (2.348) (5.966) (2.842) (525) plan assets
Kategori utama aset program per 31 Desember 2024 dan 2023 The main categories of plan assets as of 31 December 2024
sebagai persentase dari total aset program adalah pasar uang and 2023 as percentage of total plan assets was money
50%, pendapatan tetap 30% dan saham 20%. market 50%, fixed income 30% and shares 20%.
Tabel berikut menunjukkan sensitivitas atas kemungkinan The following table demonstrates the sensitivity to a
perubahan tingkat diskonto dan tingkat kenaikan gaji sebesar reasonably possible change in discount rates and salary
1% dengan variabel lain dianggap tetap, terhadap nilai kini increment rate of 1%, with all other variables held constant,
liabilitas imbalan pasca-kerja: of the present value of post-employment benefits
liabilities:
31 Desember/December 2024
Tingkat diskonto/ Tingkat kenaikan gaji/
Discount rate Salary increment rate
Kenaikan/ Penurunan/ Kenaikan/ Penurunan/
Increase Decrease Increase Decrease
Dampak pada nilai kini Impact on present value of post-
liabilitas imbalan pasca-kerja 209.395 243.001 242.989 209.052 employment benefits liabilities
31 Desember/December 2023
Tingkat diskonto/ Tingkat kenaikan gaji/
Discount rate Salary increment rate
Kenaikan/ Penurunan/ Kenaikan/ Penurunan/
Increase Decrease Increase Decrease
Dampak pada nilai kini Impact on present value of post-
liabilitas imbalan pasca-kerja 202.196 235.157 235.180 201.827 employment benefits liabilities
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 333
Page 334
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/74 Exhibit E/74
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
17. LIABILITAS IMBALAN PASCA-KERJA (Lanjutan) 17. POST-EMPLOYMENT BENEFITS LIABILITIES (Continued)
Analisa sensitivitas didasarkan pada perubahan atas satu The sensitivity analysis are based on a change in an
asumsi aktuarial dimana asumsi lainnya dianggap konstan. assumption while holding all other assumptions constant. In
Dalam prakteknya, hal ini jarang terjadi dan perubahan practice, this is unlikely to accur an changes in some of the
beberapa asumsi mungkin saling berkorelasi. Dalam assumptions may be correlated. When calculating the
perhitungan sensitivitas kewajiban imbalan pasti atas asumsi sensitivity of the defined benefit obligation to significant
aktuarial utama, metode yang sama (perhitungan nilai kini actuarial assumptions, the same method (present value of
kewajiban imbalan pasti dengan menggunakan metode the defined benefit obligation calculated with the
Projected Unit Credit di akhir periode) telah diterapkan Projected Unit Credit method at the end of the reporting
seperti dalam perhitungan kewajiban pensiun yang diakui period) has been applied as when calculating the pension
dalam laporan posisi keuangan. liability recognized within the statements of financial
position.
Asumsi-asumsi utama yang digunakan dalam perhitungan di Key assumptions used in the above calculation:
atas:
31 Desember/December
2024 2023
Asumsi ekonomi: Economic assumptions:
- Tingkat diskonto per tahun 7,10% - 7,15% 6,75% Annual discount rate -
- Kenaikan gaji per tahun 10% 10% Annual salary increase -
Asumsi demografi: Demographic assumptions:
- Tingkat kematian Tabel Mortalisasi Indonesia – 2019/ Mortality table of Mortality rate -
Indonesia – 2019
- Tingkat pengunduran diri 20% per tahun sebelum usia 25 dan terus menurun menjadi 0% Turnover rate -
pada usia 55 /
20% per annum before the age of 25 and linearly decreasing
to 0% per annum at age of 55
- Tingkat kecacatan per tahun 5% dari Tingkat Kematian/5% of Mortality Rates Disability rate per annum -
- Tingkat pensiun 100% di usia 56/100% at age 56 Retirement rate -
18. DIVIDEN TUNAI DAN SALDO LABA YANG TELAH 18. CASH DIVIDENDS AND APPROPRIATION OF RETAINED
DITENTUKAN PENGGUNAANNYA EARNINGS
Berdasarkan Berita Acara Rapat Direksi Perusahaan pada Based on the Minutes of Meeting of the Board of Directors
tanggal 29 November 2024, Perusahaan menyetujui on 29 November 2024, the Company approved interim cash
pembagian dividen tunai interim untuk tahun 2024 sebesar dividend for the financial year 2024 amounted to Rp 28 (full
Rp 28 (nilai penuh) per lembar saham atau setara dengan amount) per share amounting to Rp 421,103 to the
Rp 421.103 yang telah dibayarkan pada pemegang saham shareholders of the Company which has been distributed on
pada tanggal 19 Desember 2024. 19 December 2024.
Berdasarkan Berita Acara Rapat Umum Pemegang Saham Based on the decision of Shareholders’ Annual General
Tahunan PT BFI Finance Indonesia Tbk pada tanggal Meeting on 22 May 2024, the Company announced a cash
22 Mei 2024, Perusahaan menetapkan pembagian dividen dividend from net profit in 2023 amounting to Rp 55 (full
tunai dari laba bersih tahun 2023 sebesar Rp 55 (nilai penuh) amount) per share. After taking into account the interim
per lembar saham. Setelah memperhitungkan dividen tunai cash dividend amounting to Rp 28 (full amount) per share
interim sebesar Rp 28 (nilai penuh) per lembar saham atau or equivalent to Rp 421,103 to the shareholders of the
setara dengan Rp 421.103 yang telah dibayarkan kepada Company, which has been distributed on 21 December 2023
pemegang saham pada tanggal 21 Desember 2023 based on the Minutes of Meeting of the Board of
berdasarkan Berita Acara Rapat Direksi Perusahaan pada Directors on 1 December 2023, the remaining balance
tanggal 1 Desember 2023, sisanya sebesar Rp 27 (nilai penuh) amounting to Rp 27 (full amount) per share or equivalent
per lembar saham atau setara dengan Rp 406.063 yang telah to Rp 406,063 has been distributed on 21 June 2024. The
dibayarkan pada tanggal 21 Juni 2024. Perusahaan juga Company agreed to set aside Rp 5,000 for the reserve.
menyetujui untuk menyisihkan sebesar Rp 5.000 sebagai
cadangan.
334 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 335
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/75 Exhibit E/75
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
18. DIVIDEN TUNAI DAN SALDO LABA YANG TELAH DITENTUKAN 18. CASH DIVIDENDS AND APPROPRIATION OF RETAINED
PENGGUNAANNYA (Lanjutan) EARNINGS (Continued)
Berdasarkan Berita Acara Rapat Umum Pemegang Saham Based on the decision of Shareholders’ Annual General
Tahunan pada tanggal 16 Mei 2023, Perusahaan menetapkan Meeting on 16 May 2023, the Company announced a cash
pembagian dividen tunai dari laba bersih tahun 2022 sebesar dividend from net profit in 2022 amounting to Rp 60 (full
Rp 60 (nilai penuh) per lembar saham. Setelah amount) per share. After taking into account the interim
memperhitungkan dividen tunai interim sebesar Rp 28 (nilai cash dividend amounting to Rp 28 (full amount) per share
penuh) per lembar saham atau setara dengan Rp 421.103 or equivalent to Rp 421,103 to the shareholders of the
yang telah dibayarkan kepada pemegang saham pada tanggal Company, which has been distributed on 22 December 2022
22 Desember 2022 berdasarkan Berita Acara Rapat Direksi based on the Minutes of Meeting of the Board of
Perusahaan pada tanggal 2 Desember 2022, sisanya sebesar Directors on 2 December 2022, the remaining balance
Rp 32 (nilai penuh) per lembar saham atau setara dengan Rp amounting to Rp 32 (full amount) per share or equivalent
481.260 telah dibayarkan pada tanggal 15 Juni 2023. to Rp 481,260 has been distributed on 15 June 2023. The
Perusahaan juga menyetujui untuk menyisihkan sebesar Rp Company agreed to set aside Rp 5,000 for the reserve.
5.000 sebagai cadangan.
Hal ini telah sesuai dengan Undang-Undang No. 40/2007 This is in accordance with the Indonesian Limited Company
mengenai Perseroan Terbatas, yang mengharuskan Law No. 40/2007, which requires companies to set up a
perusahaan-perusahaan untuk membuat penyisihan cadangan statutory reserve until the reserve reach at least 20% of the
wajib sampai cadangan mencapai sekurang-kurangnya 20% issued and paid up share capital. There is no set period of
dari jumlah modal yang ditempatkan dan disetor penuh. time over which this amount should be provided.
Undang-Undang tersebut tidak mengatur jangka waktu untuk
penyisihan tersebut.
19. UTANG LAIN-LAIN – PIHAK KETIGA 19. OTHER PAYABLES – THIRD PARTIES
31 Desember/December
2024 2023
Titipan konsumen 272.962 258.891 Customer deposits
Utang kepada supplier 142.110 81.109 Payable to suppliers
Premi asuransi 59.674 45.288 Insurance premium
Utang pengurusan fidusia 911 1.268 Fiducia processing payables
Lain-lain 77.135 50.867 Others
Jumlah 552.792 437.423 Total
20. MODAL SAHAM 20. SHARE CAPITAL
Susunan pemegang saham Perusahaan pada tanggal The composition of the shareholder of the Company based
31 Desember 2024 dan 2023 berdasarkan laporan daftar on the share register of PT Raya Saham Registra (RSR), the
pemegang saham dari PT Raya Saham Registra (RSR), Biro share registrar, as of 31 December 2024 and 2023 are as
Administrasi Efek, adalah sebagai berikut: follows:
31 Desember/December 2024
Jumlah
saham/ Nilai
Number of nominal/
Pemegang saham Shares Amount %* Shareholders
Trinugraha Capital & Co SCA 7.688.125.938 192.203 51,12 Trinugraha Capital & Co SCA
Lainnya (masing-masing di bawah 5%) 7.351.257.682 183.782 48,88 Others (each below 5%)
15.039.383.620 375.985 100,00
Saham treasuri 927.732.000 23.193 - Treasury stock
Jumlah 15.967.115.620 399.178 100,00 Total
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 335
Page 336
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/76 Exhibit E/76
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
20. MODAL SAHAM (Lanjutan) 20. SHARE CAPITAL (Continued)
Susunan pemegang saham Perusahaan pada tanggal The composition of the shareholder of the Company based
31 Desember 2024 dan 2023 berdasarkan laporan daftar on the share register of PT Raya Saham Registra (RSR), the
pemegang saham dari PT Raya Saham Registra (RSR), Biro share registrar, as of 31 December 2024 and 2023 are as
Administrasi Efek, adalah sebagai berikut: (Lanjutan) follows: (Continued)
31 Desember/December 2023
Jumlah
saham/ Nilai
Number of nominal/
Pemegang saham Shares Amount %* Shareholders
Trinugraha Capital & Co SCA 7.688.125.938 192.203 51,12 Trinugraha Capital & Co SCA
DB SPORE SES CLT A/C FOR DB SPORE SES CLT A/C FOR
NTAsian Discovery MSTR NTAsian Discovery MSTR
FD-864134218 832.804.900 20.820 5,54 FD-864134218
Lainnya (masing-masing di bawah 5%) 6.518.452.782 162.962 43,34 Others (each below 5%)
15.039.383.620 375.985 100,00
Saham treasuri 927.732.000 23.193 - Treasury stock
Jumlah 15.967.115.620 399.178 100,00 Total
*) % kepemilikan saham disajikan secara neto, diluar saham *) % share ownership is presented on a net basis, excluded
treasuri. treasury stock.
Jumlah saham yang dimiliki anggota Dewan komisaris dan The number of shares held by the member of the board
Direksi Perusahaan berdasarkan laporan daftar pemegang of commissioners and board of directors of the Company
saham dari PT Raya Saham Registra (RSR), biro administrasi based on the share register of PT Raya Saham Registra
efek, adalah sebanyak 401.288.480 saham dan 398.175.980 (RSR), the share registrar, was 401,288,480 shares and
saham, yang merupakan kepemilikan sebesar 2,51% dan 398,175,980 shares representing 2.51% and 2.49% of the
2,49% dari jumlah saham Perusahaan yang beredar masing- total outstanding shares of the Company as of
masing pada tanggal 31 Desember 2024 dan 2023 dengan 31 December 2024 and 2023, respectively with detail as
rincian sebagai berikut: follows:
Jumlah Saham/ Total Shares %
Nama Anggota/ 31 Desember/December 31 Desember/December
Name of Members Jabatan/Positions 2024 2023 2024 2023
Francis Lay Sioe Ho Presiden Direktur/ 343.908.180 344.108.180 2,15 2,16
President Director
Sutadi Direktur/Director 18.817.000 17.517.000 0,12 0,11
Sudjono Direktur/Director 26.310.800 26.310.800 0,16 0,16
Andrew Adiwijanto Direktur/Director 11.240.000 10.240.000 0,07 0,06
Goklas Direktur/Director 1.012.500 - 0,01 -
Jumlah/ Total 401.288.480 398.175.980 2,51 2,49
Saham treasuri Treasury stock
Pada tanggal 29 Juni 2022, RUPSLB menyetujui pengalihan On 29 June 2022, the Extraordinary General Meetings of
sebagian saham melalui Program Kepemilikan Saham oleh Shareholders (EGMS) has approved to form and implement
Manajemen dan Karyawan Management and Employee Stock Management and Employee Stock Ownership Program
Ownership Program atau disebut juga sebagai (program (MESOP Program) by transferring a maximum of 75,000,000
MESOP), yang berasal dari saham treasuri milik Perusahaan of the Company’s treasury shares.
sebanyak-banyaknya 75.000.000 lembar saham.
RUPSLB juga telah menyetujui pengalihan sisa saham treasuri The EGMS has also approved the transfer of the remaining
sebanyak-banyaknya 927.732.000 lembar saham dengan cara 927,732,000 treasury shares by selling either on or outside
dijual baik di Bursa Efek maupun di luar Bursa Efek kepada the Stock Exchange to other parties, including to the main
pihak lain, baik kepada pemegang saham utama Perusahaan shareholders of the Company (Trinugraha Capital & Co.
(Trinugraha Capital & Co. SCA) maupun kepada pihak ketiga SCA) or other third parties.
lainnya.
336 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 337
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/77 Exhibit E/77
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
20. MODAL SAHAM (Lanjutan) 20. SHARE CAPITAL (Continued)
Saham treasuri (Lanjutan) Treasury stock (Continued)
Pada tanggal 11 Oktober 2022, Perusahaan melakukan On 11 October 2022, the Company entered into
transaksi pengalihan sebagian saham treasuri melalui a transaction to transfer part of its treasury shares through
program MESOP sejumlah 75.000.000 lembar saham pada the MESOP program in the amount of 75,000,000 shares at
harga Rp 500 (nilai penuh) per lembar saham. Pengalihan a price of Rp 500 (full amount) per share. The transfer is
tersebut berlaku efektif pada tanggal 13 Oktober 2022 di effective on 13 October 2022 where the shares have
mana saham-saham telah berpindah tangan dan diblock changed hands and are blocked (non-tradeable) with
(tidak dapat diperdagangkan) dengan periode vesting vesting period for the MESOP program for 3 years from the
program MESOP selama 3 tahun sejak tanggal dialihkan, date of transfer, with market price of Rp 1,005 (full
dengan harga pasar Rp 1.005 (nilai penuh) per lembar saham. amount) per share.
Pelaksanaan program MESOP ini tidak menimbulkan dampak The implementation of the MESOP program does not have
dilusi kepada pemegang saham atas kepemilikan saham a dilutive impact on shareholders on share ownership in
dalam Perusahaan, dikarenakan saham-saham yang the Company, causes the shares included in the MESOP
dimasukkan ke dalam program MESOP merupakan saham program are treasury shares and are not new shares issued
treasuri dan bukan merupakan saham baru yang dikeluarkan from the Company's portfolio. The proceeds from the
dari portepel Perusahaan. Hasil pengalihan saham MESOP transfer of MESOP shares will be additional working capital
akan menjadi tambahan modal kerja bagi Perusahaan. for the Company.
Pada tanggal 31 Desember 2024 dan 2023, jumlah saham As of 31 December 2024 and 2023, total treasury stock
treasuri masing-masing adalah sebanyak 927.732.000 saham. were 927,732,000 shares, respectively.
Sesuai peraturan yang berlaku, sisa saham treasuri sebanyak In accordance with applicable regulations, the remaining
927.732.000 saham wajib dialihkan dan batas waktu treasury shares of 927,732,000 must be transferred and
pemenuhan kewajiban pengalihan sisa saham treasuri with deadline for fulfilling the obligation to transfer the
tersebut adalah 5 November 2025. remaining treasury shares is 5 November 2025.
21. TAMBAHAN MODAL DISETOR - NETO 21. ADDITIONAL PAID-IN CAPITAL - NET
Pada tanggal 31 Desember 2024 dan 2023 akun ini merupakan On 31 December 2024 and 2023 this account represents the
selisih lebih antara hasil yang diterima dengan nilai nominal difference between amount received and par value from
dari setoran modal, penawaran umum perdana dan konversi paid-in capital, initial public offering and conversion of
dari obligasi konversi termasuk penyesuaian saldo karena convertible bonds including adjustments balance of quasi
kuasi reorganisasi. reorganization.
22. PENDAPATAN PIUTANG PEMBIAYAAN 22. FINANCING RECEIVABLES INCOME
31 Desember/December
2024 2023
Pendapatan piutang pembiayaan Financing receivables income
Pihak ketiga 4.438.958 4.465.384 Third parties
Pendapatan administrasi 850.475 839.352 Administration income
Denda keterlambatan 360.954 352.929 Late charges
Pendapatan terminasi 286.470 299.461 Termination income
5.936.857 5.957.126
Jumlah Total
Dikurangi: Less:
Bagian pendapatan yang dibiayai Portion of funds financed by
bank sehubungan dengan kerjasama banks in relation to channeling
penerusan pinjaman dan pembiayaan and joint financing
bersama (Catatan 31) (53.513) (23.284 ) cooperation (Note 31)
Pendapatan piutang pembiayaan - neto 5.883.344 5.933.842 Financing receivables income - net
Pada tahun yang berakhir pada tanggal 31 Desember 2024 dan For the year ended 31 December 2024 and 2023, the
2023, amortisasi biaya transaksi yang diakui sebagai amortization of transaction costs recognized as a reduction
pengurang dari pendapatan piutang pembiayaan masing- to financing receivables income was amounted to
masing sebesar Rp 210.403 dan Rp 190.645. Rp 210,403 and Rp 190,645, respectively.
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 337
Page 338
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/78 Exhibit E/78
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
23. PENDAPATAN SYARIAH 23. SHARIA INCOME
31 Desember/December
2024 2023
Marjin murabahah 129.325 101.068 Murabahah margin
Pendapatan ijarah 371 703 Ijarah income
Pendapatan IMBT 16.824 6.891 IMBT income
Jumlah 146.520 108.662 Total
24. PENDAPATAN LAIN-LAIN 24. OTHER INCOME
31 Desember/December
2024 2023
Pemulihan dari piutang Recovery on written-off
yang dihapusbukukan 217.650 196.243 receivables
Keuntungan penjualan Gain on sale of fixed
aset tetap - neto (Catatan 10) 13.680 13.502 assets - net (Note 10)
Lain-lain 19.450 18.300 Others
Jumlah 250.780 228.045 Total
25. BEBAN GAJI DAN TUNJANGAN 25. SALARIES AND BENEFITS EXPENSES
31 Desember/December
2024 2023
Pihak ketiga Third parties
Gaji dan imbalan kerja 1.398.190 1.353.921 Salaries and allowances
Imbalan pasca-kerja (Catatan 17) 63.072 37.555 Post-employment benefits (Note 17)
1.461.262 1.391.476
Pihak berelasi (Catatan 29) Related parties (Note 29)
Gaji dan imbalan kerja 51.405 62.260 Salaries and allowances
Imbalan pasca-kerja (Catatan 17,29) 4.572 3.367 Post-employment benefits (Note 17,29)
55.977 65.627
Jumlah 1.517.239 1.457.103 Total
26. BEBAN BUNGA DAN KEUANGAN 26. INTEREST AND FINANCE CHARGES
31 Desember/December
2024 2023
Bunga atas pinjaman yang diterima 688.392 653.103 Interest on borrowings
Bunga atas surat berharga yang Interest on securities
diterbitkan (Catatan 15) 235.862 290.283 issued (Note 15)
Amortisasi biaya emisi atas surat berharga Amortization of securities
yang diterbitkan (Catatan 15) 6.283 7.924 issuance cost (Note 15)
Jumlah 930.537 951.310 Total
338 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 339
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/79 Exhibit E/79
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
27. BEBAN UMUM DAN ADMINISTRASI 27. GENERAL AND ADMINISTRATIVE EXPENSES
31 Desember/December
2024 2023
Beban penerimaan angsuran 143.765 150.272 Installment collection expense
Perbaikan dan pemeliharaan 128.356 124.206 Repairs and maintenance
Penyusutan aset tetap (Catatan 10) 124.538 117.384 Depreciation of fixed assets (Note 10)
Pemasaran 78.275 99.358 Marketing
Amortisasi aset takberwujud (Catatan 12) 68.353 53.859 Amortization of intangible assets (Note 12)
Perjalanan dinas dan transportasi 46.061 51.038 Travel and transportation
Pendidikan dan pelatihan 40.199 26.866 Training and education
Honorarium tenaga ahli 39.713 42.868 Professional fees
Komunikasi 36.079 26.191 Communications
Asuransi 23.894 21.856 Insurance
Penyusutan aset hak-guna (Catatan 11) 22.474 22.612 Depreciation of right-of-use assets (Note 11)
Validasi data kredit 18.036 427 Credit data validation
Listrik dan air 16.924 16.579 Electricity and water
Beban alih sumber daya 16.371 17.092 Outsourced service expenses
Beban kantor 15.445 16.348 Office expense
Pengiriman, perangko dan materai 15.341 21.533 Courier, postage and stamp duty
Keanggotaan dan langganan 11.784 13.458 Membership and subscription
Program CSR 2.124 1.494 CSR program
Sewa 1.993 1.883 Rental
Beban administrasi bank 1.874 2.483 Bank administration charges
Legalisir dokumen dan fotokopi 1.221 1.316 Legalized document and photocopy
Lain-lain 22.605 41.382 Others
Jumlah 875.425 870.505 Total
28. BEBAN LAIN-LAIN 28. OTHER EXPENSES
Rincian beban lain-lain adalah sebagai berikut: The details of other expenses are as follows:
31 Desember/December
2024 2023
Penghapusan piutang dalam Written-off receivables in the
proses penyelesaian 229.458 228.870 settlement process
Kerugian neto pelepasan aset takberwujud 5.362 - Net loss on disposal of intangible assets
Cadangan kerugian penurunan Provision for impairment losses
nilai atas piutang dalam proses penyelesaian 99 34.024 of receivables in the settlement process
Jumlah 234.919 262.894 Total
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 339
Page 340
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/80 Exhibit E/80
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
29. TRANSAKSI DENGAN PIHAK-PIHAK BERELASI 29. RELATED PARTIES TRANSACTIONS
Dalam menjalankan kegiatan usahanya, Perusahaan dan In carrying out its business activities, the Company and Its
Entitas Anaknya melakukan transaksi-transaksi dengan pihak- Subsidiary enter into transactions with certain related
pihak berelasi tertentu sebagai berikut: parties as the followings:
Sifat hubungan/
Pihak berelasi/ Related parties Nature of relationship Transaksi/ Transactions
Karyawan/ Employee Personil manajemen kunci/ Imbalan kerja jangka-pendek/
Key management personnel Short-term employees’ benefits
Imbalan pasca-kerja/ Post-employment benefits
Program kompensasi manajemen dan karyawan
berbasis saham/ Management and employee
stock options program
PT Bank Jago Tbk Dalam satu penerima manfaat akhir Giro/ Current accounts
yang sama/ Deposito berjangka/ Time deposits
Under a similar ultimate Pendapatan bunga/ Interest income
beneficial owner Beban bunga/ Interest expense
Pinjaman yang diterima/ Fund borrowing
Saldo dan transaksi–transaksi kepada atau dari pihak yang Balances and transactions to or from a related party are as
berelasi adalah sebagai berikut: follows:
Beban gaji dan tunjangan karyawan Salaries and employee benefits
31 Desember/December
2024 2023
Personil manajemen kunci: Key management personnel:
Imbalan kerja jangka-pendek 51.405 62.260 Short-term employees’ benefits
Imbalan pasca-kerja 4.572 3.367 Post-employment benefits
55.977 65.627
Persentase terhadap jumlah beban 1,27% 1,52% Percentage of total expenses
PT Bank Jago Tbk PT Bank Jago Tbk
31 Desember/December
2024 2023
Giro (Catatan 4) 70 174 Current accounts (Note 4)
Deposito berjangka (Catatan 4) 6.771 4.171 Time deposits (Note 4)
Pendapatan bunga 58 23 Interest income
Beban bunga 1 3 Interest expense
Pinjaman yang diterima (Catatan 13) 169.094 296.893 Fund borrowing (Note 13)
Transaksi dengan pihak berelasi, kecuali beban gaji dan Transaction with related parties, except salary expense and
imbalan kerja kepada personil manajemen kunci, dilakukan employee benefits to key management personnel, conducted
dengan menggunakan persyaratan usaha normal. by normal operations requirements.
340 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 341
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/81 Exhibit E/81
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
30. SEGMEN OPERASI 30. OPERATING SEGMENT
Perusahaan dan Entitas Anaknya mengelola kegiatan The Company and Its Subsidiary manage its business activities
usahanya dan mengidentifikasi segmen yang dilaporkan and identifies its reported segments based on product
berdasarkan jenis produk dan wilayah geografis. Laba atau categories and geographic area. Profit or loss from each
rugi dari masing-masing segmen digunakan untuk menilai segment is used to measure performance of each segment’s
kinerja masing-masing segmen. Informasi yang berkaitan information concerning the main segments are set out as
dengan segmen usaha utama disajikan sebagai berikut: follows:
31 Desember/December 2024
Sepeda
Mobil/ motor/ Lain-lain/ Jumlah/
Cars Motorcycles Others Total
Laporan laba rugi Statement of profit or loss
Pendapatan Income
Pendapatan pembiayaan 4.142.100 961.415 926.349 6.029.864 Financing income
Lain-lain 151.441 44.018 109.747 305.206 Others
Jumlah pendapatan 4.293.541 1.005.433 1.036.096 6.335.070 Total income
Beban Expenses
Beban operasional 2.424.439 526.098 607.583 3.558.120 Operating expenses
Cadangan kerugian penurunan nilai 632.288 108.136 109.912 850.336 Provision for impairment losses
Jumlah beban 3.056.727 634.234 717.495 4.408.456 Total expenses
Laba sebelum pajak 1.236.814 371.199 318.601 1.926.614 Profit before tax
Beban pajak penghasilan (232.352) (69.735) (59.853) (361.940) Income tax expense
Laba tahun berjalan 1.004.462 301.464 258.748 1.564.674 Profit for the year
Laporan posisi keuangan Statement of financial position
Aset Assets
Piutang pembiayaan - neto 15.018.065 1.550.174 5.444.575 22.012.814 Financing receivables - net
Piutang ijarah dan IMBT - neto - - 83.597 83.597 Ijarah and IMBT receivables - net
Lain-lain 159.344 10.506 2.853.559 3.023.409 Others
Jumlah aset 15.177.409 1.560.680 8.381.731 25.119.820 Total assets
Liabilitas Liabilities
Pinjaman yang diterima - - 10.822.571 10.822.571 Fund borrowings
Surat berharga yang diterbitkan -
neto - - 2.935.877 2.935.877 Securities issued - net
Lain-lain 104.417 20.072 1.055.218 1.179.707 Others
Jumlah liabilitas 104.417 20.072 14.813.666 14.938.155 Total liabilities
31 Desember/December 2023
Sepeda
Mobil/ motor/ Lain-lain/ Jumlah/
Cars Motorcycles Others Total
Laporan laba rugi Statement of profit or loss
Pendapatan Income
Pendapatan pembiayaan 4.068.950 1.186.692 786.862 6.042.504 Financing income
Lain-lain 138.229 32.856 139.524 310.609 Others
Jumlah pendapatan 4.207.179 1.219.548 926.386 6.353.113 Total income
Beban Expenses
Beban operasional 2.337.207 633.858 570.747 3.541.812 Operating expenses
Cadangan kerugian penurunan nilai 442.351 318.281 25.417 786.049 Provision for impairment losses
Jumlah beban 2.779.558 952.139 596.164 4.327.861 Total expenses
Laba sebelum pajak 1.427.621 267.409 330.222 2.025.252 Profit before tax
Beban pajak penghasilan (268.890) (50.366 ) (62.197) (381.453) Income tax expense
Laba tahun berjalan 1.158.731 217.043 268.025 1.643.799 Profit for the year
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 341
Page 342
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/82 Exhibit E/82
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
30. SEGMEN OPERASI (Lanjutan) 30. OPERATING SEGMENT (Continued)
Perusahaan dan Entitas Anaknya mengelola kegiatan The Company and Its Subsidiary manage its business
usahanya dan mengidentifikasi segmen yang dilaporkan activities and identifies its reported segments based on
berdasarkan jenis produk dan wilayah geografis. Laba atau product categories and geographic area. Profit or loss from
rugi dari masing-masing segmen digunakan untuk menilai each segment is used to measure performance of each
kinerja masing-masing segmen. Informasi yang berkaitan segment’s information concerning the main segments are
dengan segmen usaha utama disajikan sebagai berikut: set out as follows: (Continued)
(Lanjutan)
31 Desember/December 2023
Sepeda
Mobil/ motor/ Lain-lain/ Jumlah/
Cars Motorcycles Others Total
Laporan posisi keuangan / Statement of financial position
Aset Assets
Piutang pembiayaan - neto 14.478.748 1.559.625 4.668.020 20.706.393 Financing receivables - net
Piutang ijarah dan IMBT - neto - - 52.769 52.769 Ijarah and IMBT receivables - net
Lain-lain 129.938 10.847 3.091.488 3.232.273 Others
Jumlah aset 14.608.686 1.570.472 7.812.277 23.991.435 Total assets
Liabilitas Liabilities
Pinjaman yang diterima - - 8.665.860 8.665.860 Fund borrowings
Surat berharga yang diterbitkan -
neto - - 4.720.775 4.720.775 Securities issued - net
Lain-lain 82.918 16.469 1.005.617 1.105.004 Others
Jumlah liabilitas 82.918 16.469 14.392.252 14.491.639 Total liabilities
Berikut ini adalah informasi yang berkaitan dengan segmen The following tables present information concerning the
usaha utama berdasarkan wilayah geografis: main segments based on geographic area:
Segmen Geografis Geographical Segments
31 Desember/December 2024
Sulawesi dan
Indonesia Timur/
Jawa dan Bali/ Kalimantan/ Sumatera/ Sulawesi and Jumlah/
Java and Bali Kalimantan Sumatera East Indonesia Total
Jumlah Pendapatan 3.387.411 803.244 1.138.537 1.005.878 6.335.070 Total Income
Jumlah Aset 15.325.885 3.813.969 3.890.109 2.089.857 25.119.820 Total Assets
31 Desember/December 2023
Sulawesi dan
Indonesia Timur/
Jawa dan Bali/ Kalimantan/ Sumatera/ Sulawesi and Jumlah/
Java and Bali Kalimantan Sumatera East Indonesia Total
Jumlah Pendapatan 3.439.479 792.550 1.127.038 994.046 6.353.113 Total Income
Jumlah Aset 14.363.474 3.642.205 4.003.551 1.982.205 23.991.435 Total Assets
342 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 343
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/83 Exhibit E/83
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
31. PERJANJIAN KERJASAMA YANG PENTING 31. SIGNIFICANT COOPERATION AGREEMENTS
a. Pembiayaan Bersama a. Joint Financing
Dalam kaitan untuk mendukung kebutuhan pendanaan For the purpose to support funding requirement on
untuk pengembangan usaha, Perusahaan juga melakukan business expansion, the Company has also engaged a
berbagai kerjasama dengan perbankan, antara lain partnership with banking institutions in the form of
dalam bentuk perjanjian pembiayaan bersama (joint joint financing which are classified as “off balance
financing) yang dibukukan secara off balance sheet. sheet” transactions.
31 Desember/December
2024 2023
PT Bank Jago Tbk 1.225.652 494.892 PT Bank Jago Tbk
Dikurangi: Less:
Biaya transaksi belum diamortisasi (2.244) (1.068) Unamortized transaction costs
Jumlah - neto 1.223.408 493.824 Total – net
Pada tanggal 5 Agustus 2021, Perusahaan On 5 August 2021, the Company entered into joint
menandatangani perjanjian kerjasama No.0100/065/B/ financing agreement No.0100/065/B/05082021
05082021 dengan skema pembiayaan bersama (joint amounting to Rp 150,000 with PT Bank Jago Tbk.
financing) sebesar Rp 150.000 dengan On 25 March 2022, with financing agreement
PT Bank Jago Tbk. Pada tanggal 25 Maret 2022, dengan No.0100/026/B/25032022, the amount of this facility
perjanjian kerjasama No. 0100/026/B/25032022, jumlah has been increased to Rp 300,000. The amount of funds
fasilitas ini meningkat menjadi Rp 300.000. Porsi fasilitas to be financed by each party range from 10% from the
pembiayaan yang akan diberikan untuk konsumen dari Company, and 90% from joint financing providers
masing-masing pihak adalah berkisar 10% dari (banks).
Perusahaan, dan 90% dari pemberi pembiayaan bersama
(bank).
Pada tanggal 24 Mei 2023, Perusahaan menandatangani On 24 May 2023, the Company entered into an
Perubahan dan Pernyataan Kembali Perjanjian Amendment and Restatement of Joint Financing Facility
Kerjasama Fasilitas Pembiayaan Bersama Agreement No.0100/049/B/24052023 with PT Bank
No.0100/049/B/24052023 dengan PT Bank Jago Tbk Jago Tbk whereas the facility amount increase to
dimana jumlah fasilitas ini berubah menjadi sebesar Rp 2,000,000 and shall be effective until 5 August 2024.
Rp 2.000.000 dan berlaku efektif sampai dengan tanggal
5 Agustus 2024.
Pada tanggal 1 Agustus 2024, Perusahaan On 1 August 2024, the Company entered into an
menandatangani Perubahan dan Pernyataan Kembali Amendment and Restatement of Joint Financing Facility
Perjanjian Kerjasama Fasilitas Pembiayaan Bersama Agreement No.0100/042/B/01082024 with PT Bank
No.0100/042/B/01082024 dengan PT Bank Jago Tbk yang Jago Tbk whereas the amount of funds to be financed
merubah porsi fasilitas pembiayaan yang akan diberikan by each party range from 1% from the Company, and
untuk konsumen dari masing-masing pihak yaitu berubah 99% from joint financing providers (banks) and shall be
menjadi berkisar 1% dari Perusahaan, dan 99% dari effective from 5 August 2024 until 5 August 2027.
pemberi pembiayaan bersama (bank) dan berlaku efektif
dari tanggal 5 Agustus 2024 sampai dengan tanggal
5 Agustus 2027.
Fasilitas tersebut di atas berlaku sampai dengan The above facility will be expired at the time
dibayarkannya angsuran terakhir piutang pembiayaan customers pay the latest installment of joint financing
bersama oleh konsumen. receivables.
Perusahaan bersama dengan pemberi pembiayaan The Company, together with the joint financing
bersama di atas bertindak sebagai penyedia dana dalam providers mentioned above, extend credit to
pemberian pembiayaan kepada konsumen yang consumers in accordance with certain criteria laid
memenuhi kriteria tertentu. Perusahaan bertanggung down in agreements. The Company is responsible to
jawab untuk mengelola dokumentasi dan administrasi maintain the customer’s documentation and
setiap konsumen. administration.
Kerjasama pembiayaan bersama yang dilakukan ini The joint financing facilities were arranged without
bersifat without recourse, dimana Perusahaan tidak recourse, whereby the Company is not obliged to pay
memiliki kewajiban untuk membayar atau menyetor installments including interest to joint financing
angsuran pokok termasuk bunganya kepada pemberi providers in the event that the customers fail to meet
pembiayaan bersama jika konsumen gagal melakukan their installment obligation to the Company.
pembayaran angsurannya kepada Perusahaan.
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 343
Page 344
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/84 Exhibit E/84
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
31. PERJANJIAN KERJASAMA YANG PENTING (Lanjutan) 31. SIGNIFICANT COOPERATION AGREEMENTS (Continued)
b. Penyalur kendaraan b. Dealers of Motor Vechicles
Perusahaan mengadakan perjanjian kerjasama dengan The Company has entered into cooperation agreements
beberapa penyalur kendaraan. Pembiayaan yang telah with dealers of motor vehicles. Approved financing that
disetujui namun belum dibayarkan kepada penyalur has not yet been paid to dealers are recorded as payable
kendaraan dicatat sebagai utang kepada penyalur to dealers.
kendaraan.
c. Asuransi c. Insurance
Perusahaan mengadakan kerjasama dengan beberapa The Company has entered into cooperation agreements
perusahaan asuransi seperti PT Asuransi Bina Dana Arta with insurance companies which are PT Asuransi Bina
Tbk, PT Asuransi Sinar Mas, PT Asuransi Wahana Tata, Dana Arta Tbk, PT Asuransi Sinar Mas, PT Asuransi
PT Asuransi Astra Buana, PT Asuransi Raksa Pratikara, Wahana Tata, PT Asuransi Astra Buana, PT Asuransi
PT Asuransi FPG Indonesia, PT Asuransi Etiqa Raksa Pratikara, PT Asuransi FPG Indonesia, PT Asuransi
Internasional Indonesia, PT Pan Pasific Insurance, Etiqa Internasional Indonesia, PT Pan Pasific Insurance,
PT FWD Insurance Indonesia dan PT Chubb Life Insurance PT FWD Insurance Indonesia and PT Chubb Life Insurance
Indonesia dalam rangka penyediaan asuransi Indonesia to providing credit protection insurance and
perlindungan kredit dan perlindungan terhadap agunan protection for financed collateral.
yang dibiayai.
Perusahaan melakukan penutupan asuransi atas The Company insures vehicles for the interest of the
kendaraan bermotor demi kepentingan Perusahaan Company in its capacity as financing provider. Insurance
dalam kapasitasnya sebagai penyedia pembiayaan. premium payments received from customers that have
Pembayaran premi asuransi yang telah diterima dari not yet been paid to insurance companies are recorded
konsumen namun belum dibayarkan kepada perusahaan as insurance premium payable.
asuransi dicatat sebagai utang premi asuransi.
32. LABA PER SAHAM 32. EARNINGS PER SHARE
Laba per saham dasar dihitung dengan cara membagi laba Earnings per share is calculated by dividing profit for the
tahun berjalan yang tersedia bagi pemegang saham dengan year available to shareholders by the weighted average
rata-rata tertimbang saham biasa yang beredar pada tahun common shares outstanding during the year.
berjalan.
31 Desember/December
2024 2023
Laba tahun berjalan untuk perhitungan Profit for the year for the computation of
laba per saham dasar 1.564.811 1.643.888 basic earning per shares
Jumlah rata-rata tertimbang The weighted average of
saham yang beredar 15.039.383.620 15.039.383.620 shares outstanding
Laba per saham Basic earnings per
dasar (nilai penuh) 104 109 share (full amount)
Perusahaan tidak memiliki instrumen yang memberikan efek The Company does not have instrument that give impact of
dilusi pada laba per saham dasar. dilution effect on basic earning per share.
344 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 345
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/85 Exhibit E/85
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
33. PENGHASILAN KOMPREHENSIF LAIN 33. OTHER COMPREHENSIVE INCOME
Perubahan komponen penghasilan komprehensif lain yang The movement of other comprehensive income component
tidak mempengaruhi laba rugi adalah sebagai berikut: that have not yet affected the profit and loss were as
follows:
31 Desember/December
2024 2023
Saldo awal tahun – setelah Beginning balance of the
pajak tangguhan 65.202 62.751 year after deferred tax
Keuntungan (kerugian) pengukuran kembali Gain (loss) on remeasurement of
program aktuarial manfaat pasti 12.897 (10.468) defined benefit actuarial program
Effective portion of the fair value change
Bagian efektif atas perubahan nilai wajar of the derivative instrument -
instrumen derivatif - lindung nilai arus kas (81.583) 13.498 cash flow hedge
(3.484) 65.781
Aset (liabilitas) pajak tangguhan (Catatan 14c) 13.047 (579) Deferred tax assets (liabilities) (Note 14c)
Saldo akhir tahun – setelah Balance at the end of year -
pajak tangguhan 9.563 65.202 after deferred tax
34. PERUBAHAN PADA LIABILITAS DARI AKTIVITAS PENDANAAN 34. CHANGES IN LIABILITIES ARISED FROM FINANCING
ACTIVITIES
Perubahan pada liabilitas yang timbul dari aktivitas Changes in liabilities arised from financing activities are as
pendanaan adalah sebagai berikut: follows:
31 Desember/December 2024
Pergerakan non-kas/
Non-cash changes
Pergerakan
Pergerakan beban
valuta asing/ transaksi/
Saldo awal/ Movement in Changes in Saldo akhir/
Beginning Arus kas/ foreign transaction Ending
balance Cashflows exchange cost balance
Pinjaman yang diterima 8.665.860 2.104.333 52.519 (141) 10.822.571 Funds borrowings
Surat berharga yang
diterbitkan - neto 4.720.775 (1.787.000) - 2.102 2.935.877 Securities issued - net
Jumlah liabilitas dari Total liabilities from
aktivitas pendanaan 13.386.635 317.333 52.519 1.961 13.758.448 financing activities
31 Desember/December 2023
Pergerakan non-kas/
Non-cash changes
Pergerakan
Pergerakan beban
valuta asing/ transaksi/
Saldo awal/ Movement in Changes in Saldo akhir/
Beginning Arus kas/ foreign transaction Ending
balance Cashflows exchange cost balance
Pinjaman yang diterima 10.246.908 (1.517.821) (59.530) (3.697) 8.665.860 Funds borrowings
Surat berharga yang
diterbitkan - neto 1.581.490 3.145.000 - (5.715) 4.720.775 Securities issued - net
Jumlah liabilitas dari Total liabilities from
aktivitas pendanaan 11.828.398 1.627.179 (59.530) (9.412) 13.386.635 financing activities
Perusahaan dan Entitas Anaknya telah melakukan kebijakan The Company and Its Subsidiary have conducted hedge policy
lindung nilai untuk pinjaman yang diterima dalam mata uang to borrowings denominated in foreign currencies.
asing.
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 345
Page 346
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/86 Exhibit E/86
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
35. INFORMASI TAMBAHAN YANG TIDAK DIPERSYARATKAN 35. ADDITIONAL INFORMATION THAT IS NOT REQUIRED BY
OLEH STANDAR AKUNTANSI INDONESIAN ACCOUNTING STANDARDS
MANAJEMEN RISIKO RISK MANAGEMENT
a. Pendahuluan dan gambaran umum a. Introduction and general description
Perkembangan dunia multifinance yang disertai dengan The development in multifinance industry followed with
meningkatnya kompleksitas aktivitas pembiayaan the improvement in complexity of financing activity has
semakin mempertegas pentingnya tata kelola emphasized more on the importance of good corporate
perusahaan yang sehat (good corporate governance) dan governance and a reliable risk management. Such both
manajemen risiko yang dapat diandalkan. Kedua hal matters are important factors, which bring the
tersebut merupakan faktor penting yang menjadi investors’ attention in assessing their investment
perhatian para investor dalam penilaian pilihan target targeting. Basically, the implementation of risk
investasinya. Penerapan manajemen risiko di management within the Company and Its Subsidiary had
Perusahaan dan Entitas Anaknya pada dasarnya sudah been carried out since the establishment of the
dilakukan sejak perusahaan berdiri, meskipun dengan Company, eventhough the Company was still using a
cara yang masih konvensional dan berkembang sesuai conventional manner and keep improving in accordance
dengan perkembangan kondisi internal dan eksternal. with the recent development of internal and external
circumstances.
Perusahaan dan Entitas Anaknya menyadari bahwa The Company and Its Subsidiary realize that risk is an
risiko merupakan bagian yang tidak terpisahkan dari integral part of its operational activity and can be
operasional dan dapat dikelola secara praktis dan managed practically and effectively day by day, with the
efektif setiap hari, dengan empat tipe risiko utama: following four particular risks:
1. Risiko kredit 1. Credit risk
2. Risiko pasar 2. Market risk
3. Risiko pendanaan dan likuiditas 3. Funding and liquidity risk
4. Risiko operasional 4. Operational risk
5. Risiko permodalan 5. Capital risk
Pengelolaan risiko di Perusahaan mencakup keseluruhan Risk management within the Company includes overall
lingkup aktivitas usaha di Perusahaan, yang didasarkan scope of business activity within the Company, which
pada kebutuhan akan keseimbangan antara fungsi based on the necessity of balance between business
operasional bisnis dengan pengelolaan risikonya. operational function and its risk management thereof.
Dengan kebijakan dan manajemen risiko yang berfungsi By means of proper risk management and policy, thus
baik, maka manajemen risiko akan menjadi strategic the risk management will become a strategic partner to
partner bagi bisnis dalam mendapatkan hasil optimal the business in obtaining optimal outcome from the
dari operasi Perusahaan. Company’s course of operation.
Dalam rangka pengembangan manajemen risiko yang In the event of development of proper risk management,
sesuai, Perusahaan dan Entitas Anaknya terus the Company and Its Subsidiary keep developing and
mengembangkan dan meningkatkan kerangka sistem improving the integrated and comprehensive framework
pengelolaan risiko dan struktur pengendalian internal of risk management system and internal control
yang terpadu dan komprehensif, sehingga dapat structure, in order that they are able to provide
memberikan informasi adanya potensi risiko secara information as an early warning of any potential risk and
lebih dini dan selanjutnya mengambil langkah-langkah accordingly, take appropriate actions to mitigate the
yang memadai untuk meminimalkan dampak risiko. risk.
Kerangka manajemen risiko dituangkan dalam The framework of risk management is implemented
kebijakan, prosedur, batasan transaksi, kewenangan under the form of policy, procedures, transactional
dan ketentuan lain serta berbagai perangkat limits, authorizations, and other rules as well as various
manajemen risiko, yang berlaku di seluruh aktivitas risk management instruments applicable to entire
lingkup usaha. Untuk memastikan bahwa kebijakan dan business activity. In order to ensure that the policy and
prosedur tersebut sesuai dengan perkembangan bisnis procedures is in line with the current business
yang ada, maka evaluasi selalu dilakukan berkala sesuai development, evaluation is frequently carried out in
dengan perubahan parameter risikonya. accordance with the change in its risk parameter.
346 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 347
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/87 Exhibit E/87
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
35. INFORMASI TAMBAHAN YANG TIDAK DIPERSYARATKAN 35. ADDITIONAL INFORMATION THAT IS NOT REQUIRED BY
OLEH STANDAR AKUNTANSI (Lanjutan) INDONESIAN ACCOUNTING STANDARDS (Continued)
MANAJEMEN RISIKO (Lanjutan) RISK MANAGEMENT (Continued)
b. Kerangka manajemen risiko b. Framework of risk management
Dalam penerapan manajemen risiko, Perusahaan In the implementation of risk management, the
menyadari pentingnya memiliki sebuah mekanisme yang Company realizes the importance of having an adequate
memadai dalam mengakomodasi risiko-risiko yang mechanism to accommodate the risks faced by the
dihadapi Perusahaan. Perusahaan bertumpu pada 4 Company. The Company has a mechanism that is based
(empat) pilar manajemen risiko sebagai berikut: upon 4 (four) risk management pillars, in which could be
described as follows:
1. Pengawasan aktif Dewan Komisaris dan Direksi, 1. Active supervision by the Board of Commissioners
yang mencakup: and Board of Directors, which includes:
- Menyetujui dan melakukan evaluasi kebijakan - Approving and evaluating risk management
manajemen risiko secara berkala; policies on a regular basis;
- Menetapkan kebijakan dan strategi Manajemen - Establishing risk management policies and
Risiko termasuk penetapan otoritas dalam strategies, which include determining the
pemberian batasan serta tinjauan atas kualitas authorization in limits and reviewing the quality
portfolio secara berkala; of portfolio on a regular basis;
- Terdapatnya Komite Pemantau Risiko dalam - Presence of Risk Oversight Committee in carrying
melakukan fungsi pengawasan. out their supervisory functions.
2. Kebijakan dan penerapan batasan 2. Policy and implementation limits
Perusahaan menyusun kebijakan-kebijakan The Company develops policies related to risk
manajemen risiko yang diperiksa secara berkala dan management, which are assessed periodically and
selalu disesuaikan dengan kondisi usaha terkini. aligned constantly to fit the most recent business
Kebijakan tersebut diterjemahkan ke dalam situation. The policy is translated into Standard
Prosedur Operasi Standar, Ketentuan Umum dan Operating Procedures and Internal Memo, which are
Surat Keputusan Dewan Direksi, dan disosialisasikan being socialized to all employees. The Company also
kepada seluruh karyawan terkait. Perusahaan juga has policies concerning the level of authority on
menerapkan batasan persetujuan atau otorisasi approval or authorization for both credit and non-
untuk transaksi kredit maupun yang bukan transaksi credit transactions.
kredit.
3. Identifikasi, pengukuran, pengawasan dan sistem 3. Identification, measurement, monitoring, and
informasi manajemen management information system
Perusahaan memiliki perangkat untuk The Company has a set of tools to identify, measure,
mengidentifikasi, mengukur dan mengawasi risiko, and monitor risks, particularly the credit risk and
terutama risiko kredit dan operasional melalui operational risk through the existing reporting and
mekanisme pelaporan dan sistem informasi management information system mechanism. In
manajemen. Untuk menjamin ketersediaan data order to ensure the availability of updated and
risiko yang terkini dan komprehensif, Perusahaan comprehensive risk data, the Company had
telah melakukan mengkonversi sistem operasi converted the existing operating system into a
Perusahaan yang ada menjadi centralized system centralized system, which known as CONFINS.
yang dikenal dengan CONFINS. Selain itu, Moreover, the Company has also implemented
Perusahaan juga melakukan implementasi sistem business intelligence information system in order
informasi business intelligence agar data atau that data or risk information could be provided to
informasi risiko dapat disediakan secara cepat dan the management or other third parties on a prompt
akurat kepada pihak manajemen atau pihak ketiga and accurate manner.
lainnya.
4. Pengendalian internal 4. Internal control
Perusahaan memiliki Departemen Audit Internal The Company has the Internal Audit Division in
yang secara independen melaporkan hasil place, which independently reports on process and
pemeriksaannya kepada Dewan Komisaris dan results of assessment to the Board of Commissioners
and Board of Directors. The responsibility of the
Direksi. Tanggung jawab dari Departemen Audit
Internal Audit Division includes:
Internal mencakup:
- Menyediakan penilaian atas kecukupan dan - Providing assessment on the adequacy and
efektifitas dari proses bisnis yang ada di dalam effectiveness of the entire existing business
Perusahaan; process within the Company;
- Melakukan pemeriksaan atas kepatuhan terhadap - Conducting examination on compliance to the
kebijakan-kebijakan risiko Perusahaan; Company’s risk policies;
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 347
Page 348
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/88 Exhibit E/88
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
35. INFORMASI TAMBAHAN YANG TIDAK DIPERSYARATKAN 35. ADDITIONAL INFORMATION THAT IS NOT REQUIRED BY
OLEH STANDAR AKUNTANSI (Lanjutan) INDONESIAN ACCOUNTING STANDARDS (Continued)
MANAJEMEN RISIKO (Lanjutan) RISK MANAGEMENT (Continued)
b. Kerangka manajemen risiko (Lanjutan) b. Framework of risk management (Continued)
Dalam penerapan manajemen risiko, Perusahaan In the implementation of risk management, the Company
menyadari pentingnya memiliki sebuah mekanisme yang realizes the importance of having an adequate
memadai dalam mengakomodasi risiko-risiko yang mechanism to accommodate the risks faced by the
dihadapi Perusahaan. Perusahaan bertumpu pada 4 Company. The Company has a mechanism that is based
(empat) pilar manajemen risiko sebagai berikut: upon 4 (four) risk management pillars, in which could be
(Lanjutan) described as follows: (Continued)
4. Pengendalian internal (Lanjutan) 4. Internal control (Continued)
Perusahaan memiliki Departemen Audit Internal The Company has the Internal Audit Division in
yang secara independen melaporkan hasil place, which independently reports on process and
pemeriksaannya kepada Dewan Komisaris dan results of assessment to the Board of Commissioners
and Board of Directors. The responsibility of the
Direksi. Tanggung jawab dari Departemen Audit
Internal Audit Division includes: (Continued)
Internal mencakup: (Lanjutan)
- Melaporkan masalah-masalah penting yang - Reporting on significant issues related to the
terkait dengan proses pengendalian di dalam control activities within the Company, including
potential improvements to these processes; and
Perusahaan termasuk rekomendasi perbaikan
yang potensial terhadap proses tersebut; dan
- Melakukan koordinasi strategis dengan fungsi - Coordinating with other controlling and
pengendali dan pengawasan lainnya (manajemen supervisory functions (risk management,
risiko, hukum, sistem dan prosedur, dan audit compliance, legal, system and procedures, and
eksternal). external auditor)
c. Proses dan penilaian risiko (Lanjutan) c. Process and risk assessments
Pada dasarnya proses manajemen risiko dilakukan oleh Basically, risk management processes are carried out by
masing-masing unit mengingat risiko yang dihadapi each unit considering that the risk faced represents
merupakan risiko individual yang melekat pada produk, individual risks which are embedded into the products,
transaksi maupun proses pada unit yang bersangkutan. transactions, as well as process in the related unit. The
Tugas utama dari Departemen Manajemen Risiko adalah primary task of Risk Management Division is to
menetapkan kebijakan dan prosedur manajemen risiko determine policies and procedures as well as doing a
serta melakukan serangkaian proses untuk series of processes of collecting, measuring, and
mengumpulkan, melakukan pengukuran dan pelaporan reporting to the Board of Commissioners and Board of
kepada Dewan Komisaris dan Direksi. Penetapan Directors. The determination of risk management
kebijakan manajemen risiko dilakukan melalui proses policies is carried out through approval process by the
persetujuan Direksi. Board of Directors.
1. Risiko Kredit 1. Credit Risk
Risiko kredit adalah risiko utama Perusahaan, yaitu Credit risk is the main risk of the Company, that is
risiko yang timbul apabila konsumen tidak dapat the risk arising when the customer are unable to
memenuhi kewajibannya sesuai dengan perjanjian meet its obligation in accordance with the agreement
yang telah disepakati antara konsumen dengan as agreed upon between the customer and the
Perusahaan. Company.
Manajemen risiko yang telah diterapkan Perusahaan Risk management that has been applied by the
adalah sebagai berikut: Company are as follows:
• Diversifikasi portofolio menurut wilayah, sektor • Diversify the portfolio by region, economic sector
ekonomi dan industri, merk dan tipe barang. and industry, brand and type of goods.
• Risk Adjusted Pricing Method, yaitu penetapan • Risk Adjusted Pricing Method, namely setting the
tingkat bunga pembiayaan berdasarkan risiko interest rate of financing based on the risks faced
yang dihadapi, antara lain dinilai dari tingkat by, among others, assessed based on the level of
uang muka yang dibayar konsumen, usia advances paid by consumers, age of vehicles
kendaraan yang dibiayai, jenis penutupan financed, type of insurance coverage selected and
asuransi yang dipilih dan lain sebagainya. so forth.
• Adanya Key Performance Indicators (KPI) sebagai • The Key Performance Indicators (KPI) as an “early
“early warning system” atas suatu masing-masing warning system” of an individual loan products as
produk pembiayaan maupun kantor cabang. well as branch offices.
• Penanganan kontrak bermasalah yang dilakukan • Handling of problematic contracts in a discipline
secara disiplin dan proaktif. and proactive manner.
• Analisa atas kualitas portofolio secara periodik • Analysis of portfolio quality through periodic and
dan tindakan preventif dan sanksi bagi cabang- preventive actions and sanctions for branches
cabang yang kualitas portofolionya tidak sesuai whose quality of its portfolio is not on target.
target.
348 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 349
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/89 Exhibit E/89
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
35. INFORMASI TAMBAHAN YANG TIDAK DIPERSYARATKAN 35. ADDITIONAL INFORMATION THAT IS NOT REQUIRED BY
OLEH STANDAR AKUNTANSI (Lanjutan) INDONESIAN ACCOUNTING STANDARDS (Continued)
MANAJEMEN RISIKO (Lanjutan) RISK MANAGEMENT (Continued)
c. Proses dan penilaian risiko (Lanjutan) c. Process and risk assessments (Continued)
1. Risiko Kredit (Lanjutan) 1. Credit Risk (Continued)
Tabel berikut menjelaskan eksposur maksimum The following table illustrates the Company’s
sesuai dengan konsentrasi risiko kredit: maximum exposure based on credit risk
concentration:
31 Desember/December 2024
Eksposur
maksimum/
Korporasi/ Ritel/ Maximum
Corporate Retail exposure
Kas dan setara kas 1.614.126 - 1.614.126 Cash and cash equivalents
Piutang pembiayaan 3.758.108 19.069.310 22.827.418 Financing receivables
Piutang ijarah dan IMBT - 86.609 86.609 Ijarah and IMBT receivables
Aset derivatif 27.654 - 27.654 Derivative assets
Piutang karyawan - 46.352 46.352 Employee receivables
5.399.888 19.202.271 24.602.159
31 Desember/December 2023
Eksposur
maksimum/
Korporasi/ Ritel/ Maximum
Corporate Retail exposure
Kas dan setara kas 1.739.659 - 1.739.659 Cash and cash equivalents
Piutang pembiayaan 3.332.910 18.137.603 21.470.513 Financing receivables
Piutang ijarah dan IMBT - 53.816 53.816 Ijarah and IMBT receivables
Aset derivatif 56.657 - 56.657 Derivative assets
Piutang karyawan - 48.463 48.463 Employee receivables
5.129.226 18.239.882 23.369.108
Tabel berikut menjelaskan rincian aset keuangan The following table illustrates the detail of financial
Perusahaan yang dibedakan antara yang mengalami assets distinguished between those which impaired and
penurunan nilai dan yang tidak: not impaired:
31 Desember/December 2024
Tidak
mengalami Mengalami
penurunan penurunan
nilai/ nilai/ Jumlah/
Not impaired Impaired Total
Kas dan setara kas 1.614.126 - 1.614.126 Cash and cash equivalents
Piutang pembiayaan 22.528.280 299.138 22.827.418 Financing receivables
Piutang ijarah dan IMBT 85.692 917 86.609 Ijarah and IMBT receivables
Aset derivatif 27.654 - 27.654 Derivative assets
Piutang karyawan 46.352 - 46.352 Employee receivables
24.302.104 300.055 24.602.159
Dikurangi: Less:
Cadangan kerugian
Penurunan nilai (817.616 ) Allowance for impairment losses
23.784.543
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 349
Page 350
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/90 Exhibit E/90
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
35. INFORMASI TAMBAHAN YANG TIDAK DIPERSYARATKAN 35. ADDITIONAL INFORMATION THAT IS NOT REQUIRED BY
OLEH STANDAR AKUNTANSI (Lanjutan) INDONESIAN ACCOUNTING STANDARDS (Continued)
MANAJEMEN RISIKO (Lanjutan) RISK MANAGEMENT (Continued)
c. Proses dan penilaian risiko (Lanjutan) c. Process and risk assessments (Continued)
1. Risiko Kredit (Lanjutan) 1. Credit Risk (Continued)
Tabel berikut menjelaskan rincian aset keuangan The following table illustrates the detail of
Perusahaan yang dibedakan antara yang mengalami financial assets distinguished between those which
penurunan nilai dan yang tidak: (Lanjutan) impaired and not impaired: (Continued)
31 Desember/December 2023
Tidak
mengalami Mengalami
penurunan penurunan
nilai/ nilai/ Jumlah/
Not impaired Impaired Total
Kas dan setara kas 1.739.659 - 1.739.659 Cash and cash equivalents
Piutang pembiayaan 21.170.839 299.674 21.470.513 Financing receivables
Piutang ijarah dan IMBT 53.679 137 53.816 Ijarah and IMBT receivables
Aset derivatif 56.657 - 56.657 Derivative assets
Piutang karyawan 48.463 - 48.463 Employee receivables
23.069.297 299.811 23.369.108
Dikurangi: Less:
Cadangan kerugian
Penurunan nilai (765.167 ) Allowance for impairment losses
22.603.941
Tabel berikut menjelaskan rincian aset keuangan The following table illustrates the detail of financial
Perusahaan yang dibedakan antara individual dan assets distinguished between individual and
kolektif: collective:
31 Desember/December 2024
Individual/ Kolektif/ Jumlah/
Individual Collective Total
Kas dan setara kas 1.614.126 - 1.614.126 Cash and cash equivalents
Piutang pembiayaan 7.266 22.820.152 22.827.418 Financing receivables
Piutang ijarah dan IMBT - 86.609 86.609 Ijarah and IMBT receivables
Aset derivatif 27.654 - 27.654 Derivative assets
Piutang karyawan 46.352 - 46.352 Employee receivables
1.695.398 22.906.761 24.602.159
Dikurangi: Less:
Cadangan kerugian
Penurunan nilai (817.616 ) Allowance for impairment losses
23.784.543
31 Desember/December 2023
Individual/ Kolektif/ Jumlah/
Individual Collective Total
Kas dan setara kas 1.739.659 - 1.739.659 Cash and cash equivalents
Piutang pembiayaan 48.428 21.422.085 21.470.513 Financing receivables
Piutang ijarah dan IMBT 3 53.813 53.816 Ijarah and IMBT receivables
Aset derivatif 56.657 - 56.657 Derivative assets
Piutang karyawan 48.463 - 48.463 Employee receivables
1.893.210 21.475.898 23.369.108
Dikurangi: Less:
Cadangan kerugian
Penurunan nilai (765.167 ) Allowance for impairment losses
22.603.941
350 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 351
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/91 Exhibit E/91
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
35. INFORMASI TAMBAHAN YANG TIDAK DIPERSYARATKAN 35. ADDITIONAL INFORMATION THAT IS NOT REQUIRED BY
OLEH STANDAR AKUNTANSI (Lanjutan) INDONESIAN ACCOUNTING STANDARDS (Continued)
MANAJEMEN RISIKO (Lanjutan) RISK MANAGEMENT (Continued)
c. Proses dan penilaian risiko (Lanjutan) c. Process and risk assessments (Continued)
2. Risiko Pasar 2. Market Risk
Risiko pasar merupakan risiko yang terutama Market risk is the risk which is primarily caused by
berkaitan dengan perubahan tingkat suku bunga dan the changes in interest rates and exchange rate of
nilai tukar mata uang Rupiah yang akan Rupiah currency which could resulting in decrease in
menyebabkan berkurangnya pendapatan, atau revenue, or increase in cost of capital of the
bertambahnya biaya modal Perusahaan. Dengan Company. With the pattern of business activity
pola aktivitas usaha yang dijalankan Perusahaan currently operated by the Company, the market risk
saat ini, risiko pasar Perusahaan adalah minimal. of the Company is mitigated to the minimum level.
Perusahaan tidak mempunyai kegiatan usaha The Company does not have financing transaction in
pembiayaan dalam mata uang asing, sementara foreign currency, while all off-shore loans of the
seluruh pinjaman luar negeri Perusahaan dalam Company in foreign currency have been protected by
mata uang asing telah diproteksi dengan swap entering into swap transactions at amount and
dalam jumlah dan tanggal jatuh tempo yang sama settlement date that similar to the borrowings
dengan utangnya. Dalam hal suku bunga, seluruh thereof. In terms of interest rate, all interest rate
bunga yang dibebankan ke konsumen adalah suku charged to the customer is fixed interest rate, while
bunga tetap (fixed interest rate), sementara utang most of the borrowings received bear fixed interest
yang diperoleh sebagian besar juga dalam suku rate, and only a small portion the borrowings bear
bunga tetap dan hanya sebagian kecil utang dalam floating interest rate.
bentuk bunga mengambang (floating interest rate).
Manajemen risiko yang telah diterapkan oleh Risk management that has been applied by the
Perusahaan adalah sebagai berikut: Company are as follows:
• Mengelola risiko perubahan nilai tukar mata • Managing risks of foreign exchange rates.
uang asing.
• Melakukan penelaahan atas tingkat bunga • Performing review over the interest rate on
pembiayaan yang dikaitkan dengan tingkat suku financing associated with interest rate on
bunga pinjaman. borrowings.
• Membatasi eksposur dalam investasi yang • Limiting exposure in the investment that has
memiliki harga pasar yang fluktuatif. fluctuating market prices.
Tabel berikut menjelaskan eksposur Perusahaan The following table illustrates the Company’s
atas risiko nilai tukar mata uang asing pada tanggal exposure to foreign currency exchange rate risk as of
31 Desember 2024. Termasuk didalamnya adalah 31 December 2024. Included in the table are financial
instrumen keuangan Perusahaan pada nilai tercatat, instruments of the Company at carrying amounts,
dikategorikan berdasarkan jenis mata uang: categorised by currency:
31 Desember/December 2024
USD
(Nilai penuh)/ Nilai (Rp)/
(Full amount) Equivalent (Rp)
Liabilitas Liabilities
Pinjaman yang diterima 173.241.425 2.799.928 Fund borrowings
Beban akrual 1.122.924 18.149 Accrued expenses
Jumlah liabilitas 174.364.349 2.818.077 Total liabilities
Liabilitas neto Net liabilities
Kontrak valuta berjangka Foreign currency swap transactions
pertukaran mata uang asing (174.364.349) (2.818.077) contract
Eksposur neto dalam mata uang
asing - - Net exposure in foreign currency
Manajemen risiko tingkat suku bunga terhadap limit The management of interest rate risk against interest
perubahan tingkat suku bunga dilengkapi dengan rate gap limits is supplemented by monitoring the
pemantauan atas sensitivitas aset dan liabilitas sensitivity of the Company’s financial assets and
keuangan Perusahaan terhadap beberapa skenario liabilities to various standard and non-standard
suku bunga baku maupun non-baku. interest rate scenarios.
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 351
Page 352
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/92 Exhibit E/92
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
35. INFORMASI TAMBAHAN YANG TIDAK DIPERSYARATKAN 35. ADDITIONAL INFORMATION THAT IS NOT REQUIRED BY
OLEH STANDAR AKUNTANSI (Lanjutan) INDONESIAN ACCOUNTING STANDARDS (Continued)
MANAJEMEN RISIKO (Lanjutan) RISK MANAGEMENT (Continued)
c. Proses dan penilaian risiko (Lanjutan) c. Process and risk assessments (Continued)
2. Risiko Pasar (Lanjutan) 2. Market Risk (Continued)
Tabel berikut menjelaskan sensitivitas atas The following table illustrates the sensitivity to a
kemungkinan perubahan tingkat suku bunga pasar, reasonably possible change in market interest rates,
dengan variabel lain dianggap tetap, terhadap with all other variables held constant, of the
pendapatan pembiayaan: financing income:
31 Desember/December 2024
2024 2023
Pendapatan pembiayaan: Financing income:
Kenaikan suku bunga 1% 189.224 190.599 Increase in interest rate by 1%
(100 basis poin) (100 basis point)
Penurunan suku bunga 1% Decrease in interest rate by 1%
(100 basis poin) (189.224 ) (190.599) (100 basis point)
Tabel berikut menjelaskan rincian aset dan liabilitas The following table illustrates the Company’s
keuangan Perusahaan yang dikelompokkan menurut financial assets and liabilities at carrying amounts,
mana yang lebih awal antara tanggal repricing atau categorized by the earlier of contractual repricing of
tanggal jatuh tempo kontraktual untuk melihat maturity dates to analyze the impact of changes in
dampak perubahan tingkat suku bunga: interest rate:
31 Desember/December 2024
Tingkat bunga
mengambang/ Tingkat bunga tetap/ Fixed rate
Floating rate
< 3 bulan/ 3-36 bulan/ < 3 bulan/ 3-12 bulan/ 1-2 tahun/ > 2 tahun/ Jumlah/
months months months months years years Total
Aset keuangan Financial assets
Cash and cash
Kas dan setara kas 1.614.126 - - - - - 1.614.126 equivalents
Piutang pembiayaan - - 3.694.927 7.440.793 6.554.615 5.137.083 22.827.418 Financing receivables
Piutang ijarah Ijarah and IMBT
dan IMBT - - 16.315 28.092 25.957 16.245 86.609 receivables
Jumlah aset keuangan 1.614.126 - 3.711.242 7.468.885 6.580.572 5.153.328 24.528.153 Total financial assets
Liabilitas keuangan Financial liabilities
Pinjaman yang diterima - - 2.523.012 3.991.120 3.299.175 1.009.264 10.822.571 Fund borrowings
Surat berharga yang
diterbitkan - - 225.750 481.845 1.928.856 299.426 2.935.877 Securities issued
Jumlah liabilitas Total financial
keuangan - - 2.748.762 4.472.965 5.228.031 1.308.690 13.758.448 liabilities
Neto 1.614.126 - 962.480 3.221.670 1.352.541 3.844.638 10.769.705 Net
31 Desember/December 2023
Tingkat bunga
mengambang/ Tingkat bunga tetap/ Fixed rate
Floating rate
< 3 bulan/ 3-36 bulan/ < 3 bulan/ 3-12 bulan/ 1-2 tahun/ > 2 tahun/ Jumlah/
months months months months years years Total
Aset keuangan Financial assets
Cash and cash
Kas dan setara kas 1.739.659 - - - - - 1.739.659 equivalents
Piutang pembiayaan - - 3.781.082 6.929.697 6.349.324 4.410.410 21.470.513 Financing receivables
Piutang ijarah Ijarah and IMBT
dan IMBT - - 13.702 14.536 14.365 11.213 53.816 receivables
Jumlah aset keuangan 1.739.659 - 3.794.784 6.944.233 6.363.689 4.421.623 23.263.988 Total financial assets
Liabilitas keuangan Financial liabilities
Pinjaman yang diterima 20.787 - 1.484.229 3.724.801 2.669.140 766.903 8.665.860 Fund borrowings
Surat berharga yang
diterbitkan - - 614.669 1.766.466 609.510 1.730.130 4.720.775 Securities issued
Jumlah liabilitas Total financial
keuangan 20.787 - 2.098.898 5.491.267 3.278.650 2.497.033 13.386.635 liabilities
Neto 1.718.872 - 1.695.886 1.452.966 3.085.039 1.924.590 9.877.353 Net
352 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 353
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/93 Exhibit E/93
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
35. INFORMASI TAMBAHAN YANG TIDAK DIPERSYARATKAN 35. ADDITIONAL INFORMATION THAT IS NOT REQUIRED BY
OLEH STANDAR AKUNTANSI (Lanjutan) INDONESIAN ACCOUNTING STANDARDS (Continued)
MANAJEMEN RISIKO (Lanjutan) RISK MANAGEMENT (Continued)
c. Proses dan penilaian risiko (Lanjutan) c. Process and risk assessments (Continued)
3. Risiko Likuiditas 3. Liquidity Risk
Risiko likuiditas merupakan risiko terkait dengan Liquidity risk is the risk associated with the ability
kemampuan sumber dana Perusahaan untuk of the Company to meet its obligations when they
memenuhi liabilitasnya pada jatuh tempo. fall due.
Manajemen risiko yang diterapkan oleh Perusahaan Risk management that has been applied by the
adalah sebagai berikut: Company are as follows:
• Mendapatkan pinjaman dengan skedul • Obtaining borrowings with principal and
pembayaran kembali pokok dan bunga yang interest repayment schedule that aligns with
sesuai dengan periode jatuh tempo piutang, the original maturities of receivables, in order
sehingga tidak terjadi mis-match. to prevent mis-match.
• Menjaga agar posisi kas dan Perusahaan selalu • Maintaining the cash and bank position of the
dalam posisi likuid untuk mendukung aktivitas Company to remain in a liquid position in
pembiayaan selama minimal 7 hari. supporting the financing activities for at least
7 days.
• Memonitor posisi kas dan bank Perusahaan • Monitoring the cash and bank position of the
secara periodik, baik tahunan, bulanan, Company in a regular basis, whether annualy,
mingguan maupun harian, guna memastikan agar monthly, weekly or daily, to ensure that there
selalu terdapat surplus kas yang memadai. is always sufficient cash surplus.
• Menjaga agar jumlah piutang yang jatuh tempo • Maintaining the number of receivables due in a
pada periode tertentu lebih besar dibanding certain period higher than the debts maturing
dengan utang yang jatuh tempo pada periode in the same period.
yang sama.
Tabel berikut ini menyajikan profil perbedaan jatuh The following table presents the maturity gap
tempo atas aset dan liabilitas keuangan Perusahaan profile of the Company’s financial assets and
pada tanggal 31 Desember 2024 dan 2023: liabilities as of 31 December 2024 and 2023:
31 Desember/December 2024
Tidak
memiliki
jatuh
tempo/
Don’t
have < 1 bulan/ 1-3 bulan/ >3-12 bulan/ 1-3 tahun/ >3 tahun/ Jumlah/
maturity month months months years years Total
Aset keuangan Financial assets
Cash and cash
Kas dan setara kas 1.614.126 - - - - - 1.614.126 equivalents
Piutang pembiayaan - 1.833.406 1.861.521 7.440.793 9.986.984 1.704.714 22.827.418 Financing receivables
Ijarah and IMBT
Piutang ijarah dan IMBT - 9.088 7.227 28.092 39.207 2.995 86.609 receivables
Aset derivatif - 1.054 2.893 9.924 13.783 - 27.654 Derivative assets
Piutang karyawan - 1.521 1.466 6.162 36.415 788 46.352 Employees receivables
Jumlah aset keuangan 1.614.126 1.845.069 1.873.107 7.484.971 10.076.389 1.708.497 24.602.159 Total financial assets
Liabilitas keuangan Financial liabilities
Pinjaman yang diterima - 1.406.822 1.122.068 4.005.633 4.323.497 339 10.858.359 Fund borrowings
Surat berharga
yang diterbitkan - 227.000 - 485.000 2.231.000 - 2.943.000 Securities issued
Beban bunga yang masih Accrued interest
harus dibayar - 56.864 - - - - 56.864 expenses
Utang kepada supplier - 142.110 - - - - 142.110 Payable to suppliers
Insurance premium
Utang premi asuransi - - 59.674 - - - 59.674 payables
Jumlah liabilitas keuangan - 1.832.796 1.181.742 4.490.633 6.554.497 339 14.060.007 Total financial liabilities
Perbedaan jatuh tempo 1.614.126 12.273 691.365 2.994.338 3.521.892 1.708.158 10.542.152 Difference in maturity
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 353
Page 354
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/94 Exhibit E/94
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
35. INFORMASI TAMBAHAN YANG TIDAK DIPERSYARATKAN 35. ADDITIONAL INFORMATION THAT IS NOT REQUIRED BY
OLEH STANDAR AKUNTANSI (Lanjutan) INDONESIAN ACCOUNTING STANDARDS (Continued)
MANAJEMEN RISIKO (Lanjutan) RISK MANAGEMENT (Continued)
c. Proses dan penilaian risiko (Lanjutan) c. Process and risk assessments (Continued)
3. Risiko Likuiditas (Lanjutan) 3. Liquidity Risk (Continued)
Tabel berikut ini menyajikan profil perbedaan jatuh The following table presents the maturity gap
tempo atas aset dan liabilitas keuangan Perusahaan profile of the Company’s financial assets and
pada tanggal 31 Desember 2024 dan 2023: (Lanjutan) liabilities as of 31 December 2024 and 2023:
(Continued)
31 Desember/December 2023
Tidak
memiliki
jatuh
tempo/
Don’t
have < 1 bulan/ 1-3 bulan/ >3-12 bulan/ 1-3 tahun/ >3 tahun/ Jumlah/
maturity month months months years years Total
Aset keuangan Financial assets
Cash and cash
Kas dan setara kas 1.739.659 - - - - - 1.739.659 equivalents
Piutang pembiayaan - 1.880.960 1.900.122 6.929.697 9.502.491 1.257.243 21.470.513 Financing receivables
Ijarah and IMBT
Piutang ijarah dan IMBT - 9.924 3.778 14.536 22.826 2.752 53.816 receivables
Aset derivatif - 3.512 7.726 39.800 5.619 - 56.657 Derivative assets
Piutang karyawan - 2.961 2.182 6.635 36.068 617 48.463 Employees receivables
Jumlah aset keuangan 1.739.659 1.897.357 1.913.808 6.990.668 9.567.004 1.260.612 23.369.108 Total financial assets
Liabilitas keuangan Financial liabilities
Pinjaman yang diterima - 623.370 887.286 3.739.225 3.451.627 - 8.701.508 Fund borrowings
Surat berharga
yang diterbitkan - - 617.000 1.770.000 2.343.000 - 4.730.000 Securities issued
Beban bunga yang masih Accrued interest
harus dibayar - 75.090 - - - - 75.090 expenses
Utang kepada supplier - 81.109 - - - - 81.109 Payable to suppliers
Insurance premium
Utang premi asuransi - - 45.288 - - - 45.288 payables
Jumlah liabilitas keuangan - 779.569 1.549.574 5.509.225 5.794.627 - 13.632.995 Total financial liabilities
Perbedaan jatuh tempo 1.739.659 1.117.788 364.234 1.481.443 3.772.377 1.260.612 9.736.113 Difference in maturity
4. Risiko Operasional 4. Operational Risk
Risiko operasional adalah risiko yang berpotensi Operational risk is the risk that could potentially
menyebabkan kerugian operasional karena kesalahan cause an operating loss due to employee error
karyawan baik yang disengaja maupun tidak; whether intentional or not; system failures and
kegagalan sistem dan proses operasional serta tidak operational processes as well as the malfunction of
berfungsinya sistem pengendalian internal dalam the internal control system in the day-to-day
operasional Perusahaan sehari-hari. operations.
Manajemen risiko yang diterapkan oleh Perusahaan Risk management that has been applied by the
adalah sebagai berikut: Company are as follows:
• Menerapkan sistem yang tersentralisasi sehingga • Implementing a centralized system in order that
proses bisnis dapat terkontrol secara sistem dan business processes can be controlled by the
dimonitor dari waktu ke waktu. system and monitored from time to time.
• Menyiapkan backup dan Disaster Recovery Plan • Preparing backup and Disaster Recovery Plan
yang memadai bila terjadi hal-hal yang tidak that is sufficient whenever unexpected event or
diinginkan atas sistem aplikasi utama Perusahaan, condition occur towards the Company’s major
baik dari sisi hardware dan software. application systems, both in terms of hardware
and software.
• Menerapkan sistem audit kepatuhan yang • Implementing a sustainable compliance audit
berkelanjutan, baik di kantor cabang maupun system, both in branch offices or headquarters.
kantor pusat.
• Menerapkan aturan kerja yang jelas (SOP) dan • Implementing a clear code of conduct (SOP) and
sanksi yang tegas atas penyimpangan yang strict sanctions for irregularities that occurred,
terjadi, sesuai dengan tingkat kesalahan yang according to level of error identified.
ditemukan.
• Adanya penanaman nilai-nilai dasar • Promoting the Company’s core values to
Perusahaan sejak dini kepada karyawan, sehingga employees since the early stage, in order to
dapat menghindarkan/mengurangi potensi avoid/reduce the potential for irregularities.
penyimpangan.
354 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 355
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/95 Exhibit E/95
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
35. INFORMASI TAMBAHAN YANG TIDAK DIPERSYARATKAN 35. ADDITIONAL INFORMATION THAT IS NOT REQUIRED BY
OLEH STANDAR AKUNTANSI (Lanjutan) INDONESIAN ACCOUNTING STANDARDS (Continued)
MANAJEMEN RISIKO (Lanjutan) RISK MANAGEMENT (Continued)
c. Proses dan penilaian risiko (Lanjutan) c. Process and risk assessments (Continued)
4. Risiko Operasional (Lanjutan) 4. Operational Risk (Continued)
Manajemen risiko yang diterapkan oleh Perusahaan Risk management that has been applied by the
adalah sebagai berikut: (Lanjutan) Company are as follows: (Continued)
• Adanya penilaian kinerja yang fair dan transparan • Fair and transparent performance appraisal
serta adanya kesempatan untuk pengembangan and opportunities for career development.
karir.
Dalam rangka meningkatkan keamanan pusat data In order to improve data center and network
dan jaringan serta dengan semakin kompleksnya security as well as the increasingly complex
sistem informasi dan digitalisasi yang digunakan, information and digitalization systems used, the
Perusahaan telah melakukan berbagai identifikasi dan Company has carried out various identification and
mitigasi risiko terkait dengan Teknologi Informasi dan risk mitigation related to Information Technology
Digitalisasi, antara lain sebagai berikut: and Digitalization, including the following:
• Dibentuknya komite pengarah Teknologi Informasi • Establishment of an Information Technology
(IT Steering Committee). steering committee (IT Steering Committee).
• Penetapan rencana strategis TI yang termasuk • Determination of an IT strategic plan that
peningkatan keamanan cyber yang searah dengan includes cyber security improvement in line
rencana strategis kegiatan usaha Perusahaan. with the strategic plan of the Company's
business activities.
• Standardisasi penerapan dan pengelolaan • Standardization of implementation and
perangkat jaringan komunikasi dan sistem data management of communication network
dan aplikasi; termasuk pengelolaan kewenangan devices and data systems and applications;
akses sistem, dan peremajaan secara berkala. including management of system access
authority, and regular renewal.
• Penerapan pengembangan sistem aplikasi dengan • Implementation of application system
model Secured Software Development Life Cycle development using the Secured Software
(S-SDLC). Development Life Cycle (S-SDLC) model.
• Pelaksanaan Penetration Test dan Vulnerability • Implementation of Penetration Tests and
Assessment (VA) untuk menguji keamanan dan Vulnerability Assessments (VA) to test the
kehandalan sistem aplikasi dan jaringan informasi security and reliability of application systems
dari potensi serangan cyber. and information networks from potential cyber
attacks.
5. Risiko Permodalan 5. Capital Risk
Tujuan Perusahaan dan Entitas Anaknya dalam The Company and Its Subsidiary’s objective in
mengelola permodalannya adalah menjaga managing its capital is to keep the Company’s
kelangsungan usaha Perusahaan untuk dapat capability in maintaining its going concern, so the
memberikan hasil kepada pemegang saham dan Company could distribute the return to
manfaat kepada pemangku kepentingan lainnya, dan shareholders, and maintain the optimization of
memelihara optimalisasi struktur permodalan untuk capital structure to reduce the cost of capital.
mengurangi biaya modal (cost of capital).
Dalam rangka memelihara atau menyesuaikan In order to maintain or adjust the capital
struktur permodalan, Perusahaan dapat structure, the Company may adjust the amount of
menyesuaikan jumlah dividen yang dibayarkan dividends paid to shareholders, return for the
kepada pemegang saham, imbalan hasil modal results of capital to shareholders or issue new
kepada pemegang saham atau menerbitkan saham shares to reduce lending.
baru untuk mengurangi pinjaman.
Konsisten dengan pelaku industri lainnya, Perusahaan Consistent with other players in the industry, the
dan Entitas Anaknya memonitor permodalan Company and Its Subsidiary monitor capital on the
berdasarkan gearing ratio. Rasio ini dihitung dari nilai basis of the gearing ratio. This ratio is calculated
neto pinjaman (termasuk obligasi dan medium-term as net debt (including bonds payable and medium-
notes) dibagi dengan jumlah modal. Jumlah modal terms notes) divided by total capital. Total capital
diambil dari ekuitas yang tercantum dalam laporan is calculated as equity as shown in the statements
posisi keuangan. of financial position.
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 355
Page 356
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/96 Exhibit E/96
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
35. INFORMASI TAMBAHAN YANG TIDAK DIPERSYARATKAN 35. ADDITIONAL INFORMATION THAT IS NOT REQUIRED BY
OLEH STANDAR AKUNTANSI (Lanjutan) INDONESIAN ACCOUNTING STANDARDS (Continued)
MANAJEMEN RISIKO (Lanjutan) RISK MANAGEMENT (Continued)
c. Proses dan penilaian risiko (Lanjutan) c. Process and risk assessments (Continued)
5. Risiko Permodalan (Lanjutan) 5. Capital Risk (Continued)
Berdasarkan Peraturan Menteri Keuangan Republik Based on Minister of Finance of the Republic of
Indonesia No. 84/PMK.012/2006 tanggal Indonesia Regulation No. 84/PMK.012/2006 dated
26 September 2006 tentang Perusahaan Pembiayaan, 26 September 2006 regarding Multifinance
juncto POJK 35/POJK.5/2018, jumlah maksimum Company, in conjunction with OJK Regulation
gearing ratio adalah sebesar 10 kali dari total modal. No.35/POJK.5/2018, the maximum gearing ratio is
10 times from total capital.
Struktur Modal Perusahaan/
Company’s Capital Structure
31 Desember/December
Keterangan PMK84/PMK.012/2006 2024 2023 Description
Modal Disetor Minimal Rp 100 miliar/ Paid- up Capital
(dalam miliar Rupiah) Minimum Rp 100 billion 399 399 (in billion Rupiah)
Rasio Utang Terhadap Maksimum 10x/
Ekuitas Maximum 10x 1,4 1,4 Debt to Equity Ratio
Pada tanggal 31 Desember 2024 dan 2023, tingkat rasio As of 31 December 2024 and 2023, debt-to-equity
utang terhadap ekuitas Perusahaan masing-masing ratio level of the Company was healthy at 1.4
berada pada kondisi sehat, yaitu 1,4 kali. times, respectively.
RASIO KEUANGAN YANG RELEVAN RELEVANT FINANCIAL RATIOS
Berdasarkan POJK No. 35/POJK.05/2018 tanggal Based on POJK No.35/POJK.05/2018 dated 31 December 2018
31 Desember 2018 tentang Penyelenggaraan Usaha regarding the Organisation of Financing Company Business,
Perusahaan Pembiayaan, Perusahaan diharuskan untuk the Company is required to comply with several financial
mematuhi sejumlah rasio keuangan tertentu. Rasio-rasio ini ratios. These ratios have been prepared by the Company
dibuat oleh Perusahaan berdasarkan formula sebagaimana based on the formula as prescribed in the said OJK regulation
ditentukan dalam peraturan OJK untuk tujuan kepatuhan for regulatory compliance purposes, where such ratios may
terhadap peraturan, dimana rasio tersebut dapat berbeda jika differ had the ratios been computed based on Indonesian
rasio tersebut dihitung berdasarkan Standar Akuntansi Financial Accounting Standards.
Keuangan Indonesia.
Tabel berikut menyajikan rasio–rasio keuangan Perusahaan The following table sets out the Company financial
berdasarkan peraturan OJK pada tanggal ratios based on OJK Regulation as of 31 December 2024 and
31 Desember 2024 dan 2023: 2023:
Ketentuan
OJK/POJK 31 Desember /December
No. Rasio Requirement 2024 2023 Ratio
1 Rasio Saldo Piutang Pembiayaan Financing-to-Assets Ratio
Neto terhadap Total Aset >= 40% 87,96% 86,53% (FAR)
2 Rasio Saldo Piutang Pembiayaan
Neto terhadap Total Pinjaman >= 50%* 160,60% 155,07% Financing to Debt Ratio
3 Rasio Saldo Piutang Pembiayaan
Investasi dan Pembiayaan Modal Investment and Working
Kerja terhadap Total Saldo Piutang Capital Financing to Total
Pembiayaan >= 10% 77,36% 78,57% Financing Ratio
4 Rasio Piutang Pembiayaan
Bermasalah (Non-Performing Non-Performing Financing
Financing)- bruto <= 5% 1,25% 1,36% Ratio - gross
5 Rasio Piutang Pembiayaan
Bermasalah (Non-Performing Non-Performing Financing
Financing) - neto <= 5% 0,21% 0,15% Ratio - net
6 Rasio Permodalan >= 10% 67,24% 65,03% Capital Ratio
7 Gearing Ratio <= 10 x 1,35 x 1,41 x Gearing Ratio
8 Rasio Modal Sendiri terhadap Equity-to-Paid-up-Capital
Modal Disetor (MSMD) >= 50% 2550,66% 2379,84% Ratio
*) Target yang ditetapkan manajemen sesuai ketentuan *)The target set by management is in accordance with
POJK No.35/POJK.05/2018 POJK No.35/POJK.05/2018
356 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 357
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/97 Exhibit E/97
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
36. ASET DAN LIABILITAS KEUANGAN 36. FINANCIAL ASSETS AND LIABILITIES
Nilai wajar aset keuangan dan liabilitas keuangan Fair value of financial assets and financial liabilities
Pada tabel berikut ini, instrumen keuangan telah In the following table, financial instrument have been
dialokasikan berdasarkan klasifikasinya. Kebijakan akuntansi allocated based on their respective. Significant accounting
penting pada Catatan 2d menjelaskan bagaimana setiap policies in Note 2d describes how each category of financial
kategori aset keuangan dan liabilitas keuangan diukur dan assets and financial liabilities are measured and how
bagaimana pendapatan dan beban, termasuk keuntungan revenue and expenses, including gains and losses (changes
dan kerugian (perubahan nilai wajar instrumen keuangan) in fair value of financial instruments) in the fair value is
atas nilai wajar diakui. recognized.
Pengelompokan aset keuangan telah diklasifikasikan menjadi The classification of financial assets has been classified as
aset keuangan yang diukur pada nilai wajar melalui laporan financial assets measured at fair value through profit and
laba rugi, dan pinjaman yang diberikan dan piutang. loss, and loans and receivables. So with the financial
Demikian halnya dengan liabilitas keuangan telah liabilities has been classified as financial liabilities
diklasifikasikan sebagai liabilitas keuangan yang diukur pada measured at amortized cost.
biaya perolehan diamortisasi.
Tabel berikut menyajikan nilai tercatat dan nilai wajar dari The following table sets out the carrying value and fair
aset keuangan dan liabilitas keuangan Perusahaan pada value of financial assets and financial liabilities as of
tanggal 31 Desember 2024 dan 2023: 31 December 2024 and 2023:
Aset/ Assets Liabilitas/ Liabilities
Diukur pada
nilai wajar
Diukur pada melalui Diukur pada
nilai wajar penghasilan nilai wajar
melalui komprehensif melalui
laporan laba lain/ Fair laporan laba
rugi/ Fair value through rugi/ Fair
value through other Biaya perolehan value through Biaya perolehan
profit and comprehensive diamortisasi/ profit and diamortisasi/
31 Desember 2024 loss income Amortized cost loss Amortized cost 31 December 2024
Aset keuangan Financial assets
Kas dan setara kas - - 1.614.126 - - Cash and cash equivalents
Piutang pembiayaan - neto - - 22.012.814 - - Financing receivables - net
Piutang ijarah dan IMBT– neto - - 83.597 - - Ijarah and IMBT receivables - net
Aset derivatif 27.654 - - - - Derivative assets
Piutang lain - lain - - 46.352 - - Other receivables
Jumlah 27.654 - 23.756.889 - - Total
Liabilitas keuangan Financial liabilities
Pinjaman yang diterima - - - - 10.822.571 Fund borrowings
Surat berharga
yang diterbitkan - - - - 2.935.877 Securities issued
Beban akrual - - - - 301.576 Accrued expenses
Utang lain-lain - - - - 552.792 Other payables
Jumlah - - - - 14.612.816 Total
Aset/ Assets Liabilitas/ Liabilities
Diukur pada
nilai wajar
Diukur pada melalui Diukur pada
nilai wajar penghasilan nilai wajar
melalui komprehensif melalui
laporan laba lain/ Fair laporan laba
rugi/ Fair value through rugi/ Fair
value through other Biaya perolehan value through Biaya perolehan
profit and comprehensive diamortisasi/ profit and diamortisasi/
31 Desember 2023 loss income Amortized cost loss Amortized cost 31 December 2023
Aset keuangan Financial assets
Kas dan setara kas - - 1.739.659 - - Cash and cash equivalents
Piutang pembiayaan - neto - - 20.706.393 - - Financing receivables - net
Piutang ijarah dan IMBT– neto - - 52.769 - - Ijarah and IMBT receivables - net
Aset derivatif 56.657 - - - - Derivative assets
Piutang lain - lain - - 48.463 - - Other receivables
Jumlah 56.657 - 22.547.284 - - Total
Liabilitas keuangan Financial liabilities
Pinjaman yang diterima - - - - 8.665.860 Fund borrowings
Surat berharga
yang diterbitkan - - - - 4.720.775 Securities issued
Beban akrual - - - - 324.121 Accrued expenses
Utang lain-lain - - - - 437.423 Other payables
Jumlah - - - - 14.148.179 Total
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 357
Page 358
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/98 Exhibit E/98
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
36. ASET DAN LIABILITAS KEUANGAN (Lanjutan) 36. FINANCIAL ASSETS AND LIABILITIES (Continued)
Nilai wajar aset keuangan dan liabilitas keuangan Fair value of financial assets and financial liabilities
(Lanjutan) (Continued)
Metode dan asumsi yang digunakan untuk estimasi nilai The following methods and assumptions are used to
wajar adalah sebagai berikut: estimate the fair value:
• Nilai wajar kas dan setara kas, deposito berjangka, • The fair values of cash and cash equivalents, time
beban akrual dan utang lain-lain mendekati nilai deposit, accrued expenses and other payables
tercatat karena jangka waktu jatuh tempo yang singkat approximate their carrying amounts largerly due to
atas instrumen keuangan tersebut. short-term maturities of these instruments.
• Estimasi nilai wajar terhadap pinjaman yang diterima • The estimated fair value of fund borrowings not
yang tidak memiliki kuotasi di pasar aktif ditetapkan quoted in an active market is based on discounted cash
berdasarkan diskonto arus kas dengan menggunakan flows using interest rates for new debts with similar
suku bunga utang baru dengan sisa jatuh tempo yang remaining maturity. The fair value of floating rate
serupa. Nilai wajar pinjaman yang diterima dengan fund borrowings approximate their carrying amounts
tingkat suku bunga mengambang mendekati nilai because the interest rate is repriced frequently.
tercatatnya karena tingkat suku bunganya sering
ditinjau ulang.
• Piutang pembiayaan dan aset lain-lain dinyatakan • Financing receivables and other assets are recorded at
berdasarkan jumlah nilai tercatat setelah dikurangi oleh carrying amount net of charges for impairment. The
beban penurunan nilai. Estimasi nilai wajar estimated fair value represents the discounted amount
mencerminkan jumlah diskonto dari estimasi kini dari of estimated future cash flows expected to be
arus kas masa depan yang diharapkan akan diterima. received. Expected cash flows are discounted at
Arus kas yang diharapkan didiskontokan pada tingkat current market rates to determine fair value.
suku bunga pasar terkini untuk menentukan nilai wajar.
• Nilai wajar untuk aset keuangan derivatif ditetapkan • The fair value for derivative financial assets is based
menggunakan harga pasar. on market rates.
• Nilai wajar agregat untuk surat berharga yang • The aggregate fair values securities issued is
diterbitkan dihitung berdasarkan harga pasar kuotasi. calculated based on quoted market prices. For those
Jika informasi ini tidak tersedia, model diskonto arus kas notes where quoted market prices are not available, a
digunakan berdasarkan kurva yield terkini yang sesuai discounted cash flow model is used based on a current
dengan sisa periode jatuh temponya. yield curve appropriate for the remaining term of
maturity.
PSAK 113, “Pengukuran Nilai Wajar” mensyaratkan SFAS 113, “Fair Value Measurement” requires disclosure of
pengungkapan atas pengukuran nilai wajar dengan tingkat fair value measurements by level of the following fair
hirarki nilai wajar sebagai berikut: value measurement hierarchy:
(a) harga kuotasian (tidak disesuaikan) dalam pasar aktif (a) quoted prices (unadjusted) in active markets for
untuk aset atau liabilitas yang identik (tingkat 1); identical assets or liabilities (level 1);
(b) input selain harga kuotasian yang termasuk dalam (b) inputs other than quoted prices included within level 1
tingkat 1 yang dapat diobservasi untuk aset atau that are observable for the asset or liability, either
liabilitas, baik secara langsung (misalnya harga) atau directly (as prices) or indirectly (derived from prices)
secara tidak langsung (misalnya derivasi dari harga) (level 2); and
(tingkat 2); dan
(c) input untuk aset atau liabilitas yang bukan berdasarkan (c) inputs for the asset or liability that are not based on
data pasar yang dapat diobservasi (input yang tidak observable market data (unobservable inputs)
dapat diobservasi) (tingkat 3). (level 3).
Aset keuangan Perusahaan yang diukur dan diakui pada nilai The Company’s financial assets that are measured and
wajar (tingkat 2) adalah aset keuangan derivatif. recognised at fair value (level 2) are derivative financial
assets.
358 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 359
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/99 Exhibit E/99
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
37. REKLASIFIKASI 37. RECLASSIFICATIONS
Beberapa akun pada laporan keuangan konsolidasian pada A few accounts in the consolidated financial statements as
tanggal 31 Desember 2023 telah direklasifikasi agar sesuai of 31 December 2023 were reclassified in order to conform
dengan penyajian laporan keuangan konsolidasian per with the presentation of consolidated financial
31 Desember 2024 sebagai berikut : statements as of 31 December 2024 as follows:
Sebelum Sesudah
reklasifikasi/ reklasifikasi/
Before Reklasifikasi/ After
31 Desember 2023 reclassification Reclassification reclassification 31 December 2023
Laporan Arus Kas Statement of Cash Flows
Arus kas dari aktivitas operasi Cash flows from operating activities
Pembayaran kas untuk : Cash disbursement for:
Beban umum dan General and administrative
administrasi (2.223.972) 25.218 (2.198.754) expenses
Arus kas untuk aktivitas investasi Cash flows for investing activities
Penambahan aset hak-guna - (25.218) (25.218 ) Addition of right-of-use assets
38. PERISTIWA SETELAH PERIODE PELAPORAN 38. EVENT AFTER THE REPORTING PERIOD
Susunan Dewan Komisaris, Direksi, Dewan Pengawas Composition Boards of Commissioners, Directors, Sharia
syariah Supervisory Board
Pada tanggal 30 Januari 2025, Perusahaan telah As of 30 January 2025, the Company held an Extraordinary
melaksanakan Rapat Umum Pemegang Saham Luar Biasa General Meeting of Shareholders (Meeting) with the
(Rapat) dengan agenda perubahan susunan pengurus agenda of changing the composition of the Company's
Perusahaan sehubungan dengan pengunduran diri Francis Lay management in connection with the resignation of Francis
Sioe Ho selaku Presiden Direktur dan Andrew Adiwijanto Lay Sioe Ho as President Director and Andrew Adiwijanto
selaku Direktur sesuai surat pengunduran diri masing-masing as Director in accordance with their respective resignation
tertanggal 27 Desember 2024. letters dated 27 December 2024.
Selanjutnya, dalam Rapat diputuskan antara lain: Furthermore, at the meeting it was decided as follows:
- Menerima dengan baik dan mengesahkan pengunduran diri - To accept and ratify the resignation of Francis Lay Sioe
Francis Lay Sioe Ho dan Andrew Adiwijanto dari Ho and Andrew Adiwijanto from their respective
jabatannya masing-masing. positions.
- Mengangkat Francis Lay Sioe Ho sebagai Presiden Komisaris - Appointed Francis Lay Sioe Ho as President
Perseroan, menggantikan Kusmayanto Kadiman, dengan Commissioner of the Company, replacing Kusmayanto
masa jabatan efektif secepat-cepatnya 6 bulan sejak Kadiman, with an effective term of office no later than
ditutupnya Rapat dan setelah diperolehnya Persetujuan 6 months from the closing of the Meeting and after
dari Regulator terkait. Dalam hal Persetujuan dari obtaining Approval from the relevant Regulator. In the
Regulator terkait diperoleh melebihi jangka waktu 6 bulan event that Approval from the relevant Regulator is
sejak ditutupnya Rapat, maka pengangkatan termaksud obtained within a period of 6 months from the closing
akan berlaku efektif terhitung sejak tanggal Persetujuan of the Meeting, then the appointment in question will
dari Regulator terkait. be effective from the date of Approval from the
relevant Regulator.
- Mengangkat Sutadi sebagai Presiden Direktur Perseroan - Appointed Sutadi as the new President Director of the
yang baru dengan masa jabatan efektif setelah Company with an effective term of office after
diperolehnya persetujuan dari Regulator terkait. obtaining approval from the relevant Regulator.
- Mengangkat kembali Sunata Tjiterosampurno sebagai - Reappointed Sunata Tjiterosampurno as Commissioner
Komisaris Perseroan. of the Company.
Dengan demikian setelah ditutupnya Rapat, susunan Thus, after the closing of the Meeting, the composition of
pengurus Perusahaan adalah sebagai berikut: the Company’s management is as follows:
Dewan Komisaris Board of Commissioners
Presiden Komisaris : Kusmayanto Kadiman* (2025) : President Commissioner
Presiden Komisaris : Francis Lay Sioe Ho** (2025-2028) : President Commissioner
Komisaris (Independen) : Johanes Sutrisno (2021-2026) : Commissioner (Independent)
Komisaris (Independen) : Alfonso Napitupulu (2021-2026) : Commissioner (Independent)
Komisaris : Sunata Tjiterosampurno (2025-2028) : Commissioner
Komisaris : Saurabh N. Agarwal (2023-2028) : Commissioner
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 359
Page 360
About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
These Consolidated Financial Statements are Originally Issued
in Indonesian Language
Ekshibit E/100 Exhibit E/100
PT BFI FINANCE INDONESIA Tbk DAN ENTITAS ANAKNYA PT BFI FINANCE INDONESIA Tbk AND ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
38. PERISTIWA SETELAH PERIODE PELAPORAN (Lanjutan) 38. EVENT AFTER THE REPORTING PERIOD (Continued)
Susunan Dewan Komisaris, Direksi, Dewan Pengawas Composition Boards of Commissioners, Directors, Sharia
syariah (Lanjutan) Supervisory Board (Continued)
Dengan demikian setelah ditutupnya Rapat, susunan Thus, after the closing of the Meeting, the composition of
pengurus Perusahaan adalah sebagai berikut: (Lanjutan) the Company's management is as follows: (Continued)
Direksi Board of Directors
Presiden Direktur : Sutadi*** (2025-2028) : President Director
Direktur : Sudjono (2024-2027) : Director
Direktur : Goklas (2024-2027) : Director
Dewan Pengawas Syariah Sharia Supervisory Board
Ketua : Asrori S. Karni (2022-2027) : Chairman
Anggota : Helda Rahmi Sin (2022-2027) : Member
* Berakhir masa jabatan pada saat efektif pengangkatan Francis * The term of office ends at the effective date of the appointment
Lay Sioe Ho sebagai Presiden Komisaris Perseroan. of Francis Lay Sioe Ho as President Commissioner of the
** Efektif secepat-cepatnya 6 bulan sejak ditutupnya Rapat ini dan Company.
setelah diperolehnya persetujuan dari Regulator terkait. Dalam ** Effective as soon as 6 (six) months since the closing of this
hal Persetujuan dari Regulator terkait diperoleh melebihi jangka Meeting and after obtaining Approval from the relevant
waktu 6 bulan sejak ditutupnya Rapat ini, maka pengangkatan Regulator. In the event that Approval from the relevant
termaksud akan berlaku efektif terhitung sejak tanggal Regulator is obtained more than 6 (six) months since the closing
Persetujuan dari Regulator terkait. of this Meeting, then the appointment will be effective as of
*** Efektif setelah diperolehnya persetujuan dari Regulator terkait the date of Approval from the relevant Regulator.
dan tetap menjabat sebagai Direktur Perseroan dan juga *** Effective after obtaining Approval from the relevant Regulator
merangkap sebagai Pejabat Sementara Presiden Direktur and remaining in office as Director of the Company and also
Perseroan. concurrently serving as Interim President Director of the
Company.
Pada tanggal 19 Februari 2025, Perusahaan telah menerima On 19 February 2025, the Company received a copy of the
Salinan Keputusan Dewan Komisioner Otoritas Jasa Keuangan Decision of the Board of Commissioners of the Financial
Nomor Kep-5/PL.02/2025 tanggal 17 Februari 2025 tentang Services Authority Number Kep-5/PL.02/2025 dated
Hasil Penilaian Kemampuan dan Kepatutan Sutadi selaku 17 February 2025 concerning the Results of the Fit and
Calon Presiden Direktur PT BFI Finance Indonesia Tbk yang Proper Assessment of Sutadi as Candidate for President
menyebutkan antara lain bahwa Sutadi disetujui untuk Director of PT BFI Finance Indonesia Tbk stated, among
menjadi Presiden Direktur pada PT BFI Finance Indonesia Tbk other things, that Sutadi was approved to become
efektif sejak tanggal ditetapkan 17 Februari 2025. President Director of PT BFI Finance Indonesia Tbk
effective from the date set on 17 February 2025.
360 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
Page 361
Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
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FEEDBACK FORM
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4 This report contains information related to various aspects of sustainability that
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PT BFI Finance Indonesia Tbk
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Governance Statements
SEOJK 16/2021
FORM AND CONTENT OF ANNUAL REPORTS OF
ISSUERS OR PUBLIC COMPANIES
Description Page
1 The Annual Report shall at least contain:
a key financial highlights
b stock information (if any)
c report of the Board of Directors
d report of the Board of Commissioners
e profile of the Issuer or Public Company
f management discussion and analysis
g corporate governance of the Issuer or Public Company
h social and environmental responsibility of the Issuer or Public Company
i audited financial statements for the year
j statement of members of the Board of Directors and members of the Board of Commissioners regarding
their responsibility for the Annual Report
2 Details of the Annual Report Content
a Key Financial Highlights
Summary of important financial data including financial information presented in the form of a comparison
for 3 (three) financial years or since starting the business if the Issuer or Public Company has carried out its
business activities for less than 3 (three) years, at least containing:
1 revenue/sales
2 gross profit
3 profit (loss)
4 profit (loss) attributable to owners of the parent and non-controlling interests
5 total comprehensive profit (loss)
6 total comprehensive profit (loss) attributable to owners of the parent and non-controlling interests
7 profit (loss) per share
8 total assets
9 total liabilities 16-17
10 total equity
11 return on assets
12 return on equity
13 net profit margin
14 current ratio
15 liabilities to equity ratio
16 liabilities to assets ratio
17 other information and financial ratios relevant to the Issuer or Public Company and the type of industry
b Stock Information
Information on the stock of the Public Company shall at least contain:
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1 shares that have been issued for each quarterly period presented in the form of a comparison for the last 2
(two) financial years, containing at least:
a number of shares outstanding
18
b market capitalization based on the price on the stock exchange where the shares are listed
c highest, lowest, and closing prices based on the stock exchange where the shares are listed
d volume of trading on the stock exchange where the shares are listed
Information in points b), c), and d) is only disclosed if the shares are listed on the stock exchange
2 in the event of a corporate action that causes changes in shares, such as stock splits, reverse stock, stock
dividends, bonus shares, changes in the par value of shares, issuance of convertible securities, as well as
capital additions and deductions, the share information as referred to in number 1) shall at least include an
explanation regarding:
a date of implementation of corporate action
b stock split ratio, reverse stock, stock dividends, bonus shares, number of convertible securities issued, and 19
changes in the par value of the shares
c number of shares outstanding prior to and after the corporate action
d number of convertible securities executed (if any)
e share price before and after corporate action
3 in the event of a temporary suspension of trading and/or delisting of shares in the financial year, the reasons
19
for such suspension and/or delisting shall be provided
4 in the event that the temporary suspension of trading as referred to in number 3) and/or the process of
delisting of the shares is ongoing until the end of the Annual Report period, the actions taken to resolve the 19
temporary suspension of trading and/or delisting of the shares must be detailed
c Report of the Board of Directors 32-34
1 The Board of Directors’ report shall at least contain a brief description of:
a the Issuer or Public Company’s strategic strategies and policies 32-33
b roles of the Board of Directors in formulating strategies and strategic policies of the Issuer or Public Company 32-33
c processes carried out by the Board of Directors to ensure the implementation of the Issuer or Public
33-34
Company’s strategy
d comparison between the results achieved with those targeted by the Issuer or Public Company 33
e constraints faced by the Issuer or Public Company 32-33
2 overview of the business prospects of the Issuer or Public Company 34
3 implementation of governance in the Issuer or Public Company 34
d Report of the Board of Commissioners 28-29
The Board of Commissioners’ report shall at least contain a brief description of:
1 assessment of the performance of the Board of Directors regarding the management of the Issuer or Public
Company, including the supervision of the Board of Commissioners in the formulation and implementation 28-29
of the strategy of the Issuer or Public Company carried out by the Board of Directors
2 views on the business prospects of the Issuer or Public Company prepared by the Board of Directors 29
3 views on the implementation of governance in the Issuer or Public Company 29
e Issuer or Public Company’s Profile 42-81, 180-246
The profile of the Issuer or Public Company shall contain at least the following information:
1 name of the Issuer or Public Company, including whether there has been a change of name, the reason for
44
the change, and the effective date of the name change in the financial year
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2 access to the Issuer or Public Company including branch offices or representative offices that allow the
public to obtain information about the Issuer or Public Company, including:
a address
44-45, 232-
b phone number 244
c e-mail address
d website
3 brief history of the Issuer or Public Company 48-51
4 vision and mission of the Issuer or Public Company as well as the corporate culture or values 46-47
5 business activities according to the latest articles of association, business activities carried out in the financial
54-55
year, and types of goods and/or services produced
6 the operational area of the Issuer or Public Company 56-57
7 the organizational structure of the Issuer or Public Company in the form of a chart, at least up to a structure
of 1 (one) level below the Board of Directors including committees under the Board of Directors (if any) and 58-59
committees under the Board of Commissioners, alongside the names and positions
8 list of memberships in industry associations both on a national and international scale related to the
44
implementation of sustainable finance
9 profile of the Board of Directors, at least containing:
a name and position in accordance with the duties and responsibilities
b latest photo
c age
d citizenship
e education history and/or certification
f work experience, including information on:
(1) the legal basis for appointment as a member of the Board of Directors of the Issuer or Public Company 66-68
(2) concurrent positions, either as a member of the Board of Directors, a member of the Board of
Commissioners, and/or a member of committees and other positions both inside and outside the Issuer or
Public Company
In the event that a member of the Board of Directors does not have concurrent positions, then this shall be
disclosed
(3) work experience and period of time both inside and outside the Issuer or Public Company
g affiliation with other members of the Board of Directors, members of the Board of Commissioners, majority
shareholders, and controlling shareholders, either directly or indirectly, to individual owners, including names
of the affiliated parties
In the event that a member of the Board of Directors does not have an affiliated relationship, the Issuer or
Public Company shall disclose this matter
h changes in the composition of the members of the Board of Directors and reasons for such changes
66
In the event of no change in the composition of the members of the Board of Directors, this shall be disclosed
10 profile of the Board of Commissioners, at least containing:
a name and position
b latest photo
c age
d citizenship
e education history and/or certification
f work experience, including information on:
(1) the legal basis for appointment as a member of the Board of Commissioners of the Issuer or Public
Company 63-65
(2) concurrent positions, either as a member of the Board of Commissioners, a member of the Board of
Directors, and/or a member of committees and other positions both inside and outside the Issuer or Public
Company
In the event that a member of the Board of Commissioners does not have concurrent positions, then this
shall be disclosed
(3) work experience and period of time both inside and outside the Issuer or Public Company
g affiliation with other members of the Board of Commissioners, members of the Board of Directors, majority
shareholders, and controlling shareholders, either directly or indirectly, to individual owners, including names
of the affiliated parties
In the event that a member of the Board of Commissioners does not have an affiliated relationship, the Issuer
or Public Company shall disclose this matter
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h statement of independence of the independent commissioner(s) should the independent commissioner(s)
194
have served more than 2 (two) terms
i changes in the composition of the members of the Board of Commissioners and reasons for such changes
In the event of no change in the composition of the members of the Board of Commissioners, this shall be 63
disclosed
11 in the event that there is a change in the composition of the members of the Board of Directors and/
or members of the Board of Commissioners that occurs after the financial year ends, up to the deadline
for submitting the Annual Report, the compositions presented in the Annual Report are the current None
and previous compositions of the members of the Board of Directors and/or members of the Board of
Commissioners
12 number of employees by gender, position, age, education level, and employment status (permanent/
contract) in the financial year 60-62
This information can be presented in tabulated format
13 names of shareholders and percentages of ownership at the beginning and end of the financial year,
182-184
consisting of the following information regarding:
a shareholders who own 5% (five percent) or more shares of the Issuer or Public Company 182-183
b members of the Board of Directors and members of the Board of Commissioners who own shares in the
Issuer or Public Company
182
In the event that all members of the Board of Directors and/or all members of the Board of Commissioners do
not own shares, this shall be disclosed
c public shareholders, namely shareholders who each own less than 5% (five percent) of the shares of the Issuer
or Public Company 182-183
This information can be presented in tabulated format
14 percentage of indirect ownership of the shares of the Issuer or Public Company by members of the Board
of Directors and members of the Board of Commissioners at the beginning and end of the financial year,
including the shareholders registered in the shareholder register for indirect ownership of interests by
182
members of the Board of Directors and members of the Board of Commissioners
In the event that all members of the Board of Directors and/or all members of the Board of Commissioners do
not have indirect ownership of the shares of the Issuer or Public Company, this shall be disclosed
15 number of shareholders and the percentage of ownership at the end of the financial year, classified by:
a local institutional ownership
b foreign institutional ownership 182-183
c local individual ownership
d foreign individual ownership
16 information regarding the majority and controlling shareholders of the Issuer or Public Company, either
184
directly or indirectly, down to the individual owners, presented in the form of a scheme or chart
17 names of subsidiaries, associated entities, joint ventures in which the Issuer or Public Company has joint
control of the entities (if any), along with the percentages of share ownership, lines of business, total assets,
77-81
and operating status of the subsidiaries, associated entities, and joint ventures
For subsidiaries, their addresses must be provided
18 chronology of share listing, number of shares, par value, and offering price from the beginning of listing to
the end of the financial year as well as the name of the stock exchange where the shares of the Issuer or
Public Company are listed, including events of stock splits, reverse stock, stock dividends , bonus shares, and 185-186
changes in the par value of shares, issuance of convertible securities, capital additions and subtractions (if
any)
19 information on the listing of securities other than those referred to in number 18), which have not matured in
the financial year, at least containing the names of the securities, issuance year, interest rate/yield, maturity 188-189
date, offering value, and ratings (if any)
20 information on the procurement of services from public accountants and public accounting firms along with
their networks/associations/alliances, including:
a names and addresses
b assignment periods
c information on audit and/or non-audit services rendered 227
d audit and/or non-audit fee for each assignment performed during the financial year
e In the event that the appointed public accountants and public accounting firms and their networks/
associations/alliances did not provide non-audit services, this shall be disclosed
Disclosure of information on the procurement of services from public accountants and public accounting
firms along with their networks/associations/alliances can be presented in tabulated format
21 names and addresses of capital market supporting institutions and/or professions other than the public
228
accountants and public accounting firms
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f Management Analysis and Discussion 82-123
Management’s analysis and discussion contains analysis and discussion of financial statements and other
important information with an emphasis on material changes that occurred in the financial year, which at
least contains:
1 review of operations for each business segment, according to the type of industry of the Issuer or Public
Company, at least regarding:
a production, which includes the process, capacity, and developments thereof 86-99
b revenue/sales
c profitability
2 comprehensive financial performance, which includes a comparison of financial performance in the last 2
(two) financial years, an explanation of the causes of the changes and the impact of these changes, at least 100-114
regarding:
a current assets, non-current assets, and total assets 100-106
b current liabilities, non-current liabilities, and total liabilities 107-109
c equity 109-110
d revenue/sales, expenses, profit (loss), other comprehensive income, and total comprehensive
110-114
profit (loss)
e cash flows 114
3 ability to pay debts or obligations, by presenting the calculations for the relevant ratios 115-116
4 collectibility of the Issuer or Public Company’s receivables, by presenting the calculations for
116
the relevant ratios
5 capital structure and management policy on the capital structure along with the basis for de-
118
termining such policy
6 discussion of material commitments for capital goods investments, with the explanation con-
taining at least:
a purposes of commitments
b expected sources of funding to fulfill such commitments 118
c currencies in which such commitments are denominated
d measures planned by the Issuer or Public Company to take to protect against the risk arising from the related
foreign currency positions
7 discussion of capital goods investments realized in the last financial year, containing at least:
a types of capital goods investments
118
b purposes of capital goods investments
c amounts disbursed in capital goods investments
8 material information and facts occurring after the date of the accountant’s report (if any) 119
9 business prospects of the Issuer or Public Company related to the conditions in the relevant industry, the
general economy, and the international market, accompanied by supporting quantitative data from reliable 123
sources
10 comparison between the target/projection at the beginning of the financial year with the results achieved,
regarding:
a revenue/sales
117
b profit (loss)
c capital structure or
d other matters deemed important to the Issuer or Public Company
11 targets/projections to be achieved by the Issuer or Public Company for the next 1 (one) year, regarding:
a revenue/sales
b profit (loss)
123
c capital structure
d dividend policy or
e other matters deemed important to the Issuer or Public Company
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12 marketing aspects of the goods and/or services of the Issuer or Public Company, at least regarding marketing
98-99
strategy and market share
13 description of dividends for the last 2 (two) financial years, at least containing:
a dividend policy, which includes information on the ratio of dividends to net income
b cash dividend payment date and/or non-cash dividend distribution date
c amount of dividend per share (cash and/or non-cash) 119
d amount of dividends disbursed per year
This information can be presented in tabulated format
In the event that the Issuer or Public Company did not distribute dividends in the last 2 (two) years, this shall
be disclosed
14 realization of the use of public offering proceeds, by taking into consideration the following:
a in the event that during the financial year the Issuer has an obligation to submit a report on the realization
of the use of proceeds, then the realization of the cumulative use of the public offering proceeds shall be
disclosed up to the end of the financial year 120
b in the event of a change in the use of proceeds, as stipulated in the Regulation of the Financial Services
Authority regarding the report on the realization of the use of public offering proceeds, the Issuer shall
explain such change
15 material information (if any), among others regarding investments, expansions, divestments, business
mergers/consolidations, acquisitions, debt/capital restructurings, material transactions, affiliated transactions,
and transactions with conflict of interest which occurred during the financial year, containing at least:
a dates, values, and objects of the transactions
b names of parties conducting the transactions 120
c nature of the affiliations (if any)
d explanation of the fairness of the transactions
e compliance with related provisions
f in the event that there is an affiliation relationship, in addition to disclosing the information as referred to in
letters a) to e) above, the Issuer or Public Company also shall disclose the following:
(1) a statement from the Board of Directors that the affiliated transactions have undergone adequate
procedures to ensure that affiliated transactions have been carried out in accordance with generally
accepted business practices, among others, by complying with the arms-length principle
(2) the roles of the Board of Commissioners and the audit committee in undertaking the adequate
procedures to ensure that the affiliated transactions have been carried out in accordance with generally
accepted business practices, among others, by complying with the arms-length principle
g for affiliated transactions or material transactions that are business activities carried out in order to generate
business revenue and are carried out regularly, repeatedly, and/or continuously, an explanation shall be added
120
that the affiliated transactions or material transactions are related to business activities carried out in order to
generate business revenue and are carried out regularly, repeatedly, and/or continuously
In the event that the affiliated transactions or material transactions have been disclosed in the annual
financial statements, an information regarding the reference to such disclosure in the annual financial
statements shall be provided
h for disclosure of affiliated transactions and/or conflict of interest transactions resulting from the
implementation of affiliated transactions and/or conflict of interest transactions that have been approved
by independent shareholders, additional information regarding the date of the GMS which approved the
affiliated transactions and/or transactions with conflict of interest shall be provided
i in the event of no affiliated transaction and/or transaction with conflict of interest, this shall be disclosed
16 changes in the laws and regulations that bear a significant effect on the Issuer or Public Company and their
121
impact on the financial statements (if any)
17 changes in accounting policies, the reasons for such changes, and their impact on the financial statements
122
(if any)
g Governance of the Issuer or Public Company 124-156, 180-
246
Details on the governance of the Issuer or Public Company must contain at least a brief explanation on:
1 GMS, at least regarding: 131-133
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a Resolutions of the GMS in the financial year and 1 (one) year prior to the financial year, including:
(1) resolutions of the GMS in the financial year and 1 (one) year before the financial year that were
implemented in the financial year
(2) resolutions of the GMS in the financial year and 1 (one) year before the financial year that were not 131-133
implemented along with the reasons for not implementing them
b in the event that the Issuer or Public Company uses an independent party at the GMS to calculate the votes,
then this matter shall be disclosed
2 Board of Directors, at least regarding: 136, 196-206
a Duties and responsibilities of each member of the Board of Directors
200-201
This information shall be described and may be presented in tabulated format
b statement that the Board of Directors has guidelines or charter of the Board of Directors 197
c policy and implementation of the frequency of meetings of the Board of Directors, meetings of the Board of
Directors with the Board of Commissioners, and the level of attendance of members of the Board of Directors
in these meetings including attendance at the GMS 208-210
Level of attendance of members of the Board of Directors in meetings of the Board of Directors, meetings of
the Board of Directors with the Board of Commissioners, or the GMS, can be presented in tabulated format
d training and/or competence development for members of the Board of Directors:
(1) policy on training and/or competence development for members of the Board of Directors, including an
orientation program for newly appointed members of the Board of Directors (if any) and 136
(2) training and/or competence development programs attended by members of the Board of Directors in
the financial year (if any)
e The Board of Directors’ assessment of the performance of the committees that support the implementation
of the duties of the Board of Directors in the financial year shall at least contain: 206
1) performance appraisal procedure
2) criteria used, such as performance achievements during the financial year, competence and attendance at
meetings
206
f in the event that the Issuer or Public Company does not have a committee that supports the implementation
of the duties of the Board of Directors, then this shall be disclosed
3 The Board of Commissioners, at least regarding: 134-135, 190-
195
a duties and responsibilities of the Board of Commissioners 134, 190
b statement that the Board of Commissioners has guidelines or charter of the Board of Commissioners 191
c policy and implementation of the frequency of meetings of the Board of Commissioners, meetings of the
Board of Commissioners with the Board of Directors, and the level of attendance of members of the Board of
Commissioners in these meetings, including attendance at the GMS
208-210
Level of attendance of members of the Board of Commissioners at the meeting of the Board of
Commissioners, the meeting of the Board of Commissioners with the Board of Directors, or the GMS can be
presented in tabulated format
d training and/or competence development for members of the Board of Commissioners:
(1) policy on training and/or competence development for members of the Board of Commissioners,
including an orientation program for newly appointed members of the Board of Commissioners (if any) 135
(2) training and/or competence development programs attended by members of the Board of
Commissioners in the financial year (if any)
e performance appraisal of the Board of Directors and the Board of Commissioners as well as each member of
the Board of Directors and the Board of Commissioners, at least containing:
(1) performance appraisal procedures
207
(2) criteria used, such as performance achievements during the financial year, competence, and attendance
at meetings
(3) the party conducting the assessment
f The Board of Commissioners’ assessment of the performance of the Committees that support the
implementation of the duties of the Board of Commissioners in the financial year, including:
(1) performance appraisal procedures 195
(2) criteria used, such as performance achievements during the financial year, competence, and attendance
at meetings
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4 The nomination and remuneration of the Board of Directors and the Board of Commissioners shall at least
contain:
a nomination procedure, including a brief description of the policy and process of nomination of members of
the Board of Directors and/or members of the Board of Commissioners
b procedures and implementation of remuneration for the Board of Directors and the Board of Commissioners,
among others:
190-191, 196,
(1) procedures for determining remuneration for the Board of Directors and the Board of Commissioners 206-207
(2) the remuneration structure of the Board of Directors and the Board of Commissioners, such as salary,
allowances, tantiem/bonus and others
(3) the amount of remuneration for each member of the Board of Directors and member of the Board of
Commissioners
Disclosure of information can be presented in tabulated format
5 The sharia supervisory board, should the Issuer or Public Company carry out business activities based on
137-139
sharia principles as stated in the articles of association, at least regarding:
a names 69-70
b legal basis for appointment
c term of office 137
d duties and responsibilities 137
e frequency and method of providing advice and suggestions as well as supervision of compliance with sharia
137-138
principles in the capital market for the Issuer or Public Company
6 The audit committee, at least contains: 70-71, 212-213,
139-140
a name and position in the committee membership 70-71, 212
b age
c citizenship
d educational background
e work experience, including information on:
70-71, 212
(1) legal basis for appointment as committee member
(2) concurrent positions, either as a member of the Board of Commissioners, a member of the Board of
Directors, and/or a member of a committee as well as other positions (if any)
(3) work experience and time period both inside and outside the Issuer or Public Company
f period and term of office of audit committee members 212
g audit committee independence statement 212
h training and/or competence development programs attended in the financial year (if any) 139-140
i policies and implementation of the frequency of audit committee meetings and level of attendance of audit
213
committee members in these meetings
j implementation of audit committee activities in the financial year in accordance with those stated in the
140
audit committee guidelines or charter
7 Committee or function of nomination and remuneration of the Issuer or Public Company, at least regarding: 73, 141, 216-218
a name and position in the committee membership
b age
c citizenship
d educational background
e work experience, including information on: 73, 217
(1) legal basis for appointment as committee member
(2) concurrent positions, either as a member of the Board of Commissioners, a member of the Board of
Directors, and/or a member of a committee as well as other positions (if any)
(3) work experience and time period both inside and outside the Issuer or Public Company
f term and term of office of committee members 217
g committee independence statement 217
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h training and/or competence development attended in the financial year (if any) 141
i description of duties and responsibilities 216
j a statement that the committee has a guideline or charter 141
k policy and implementation of the frequency of meetings and the level of attendance of members in the
218
meetings
l brief description of the activities carried out in the financial year 141
m in the event that no nomination and remuneration committee is formed, the Issuer or Public Company shall
disclose the information as referred to in letter i) to letter l) and disclose:
-
(1) reasons for not forming the committee
(2) the party carrying out the nomination and remuneration function
8 other committees in the Issuer or Public Company that support the functions and duties of the Board of
72, 140, 214-
Directors (if any) and/or committees that support the functions and duties of the Board of Commissioners, at
215
least regarding:
a name and position in the committee membership
b age
c citizenship
d educational background
e work experience, including information on: 72, 214
(1) legal basis for appointment as committee member
(2) concurrent positions, either as a member of the Board of Commissioners, a member of the Board of
Directors, and/or a member of a committee as well as other positions (if any)
(3) work experience and time period both inside and outside the Issuer or Public Company
f term and term of office of committee members 214
g committee independence statement 215
h training and/or competence development attended in the financial year (if any) 140
i description of duties and responsibilities 214
j statement that the committee has a committee guideline or charter 214
k policy and implementation of the frequency of committee meetings and the level of attendance of
215
committee members in the meetings
l brief description of the activities carried out in the financial year 140
9 Corporate Secretary, at least regarding:
a name
b domicile
c work experience, including:
142
(1) legal basis for appointment as company secretary
(2) work experience and time period both inside and outside the Issuer or Public Company
d educational background
e training and/or competence development attended in the financial year
f brief description of the implementation of the duties of the company secretary in the financial year 142
10 Internal audit unit, at least regarding: 143-145
a name of head of internal audit unit
b work experience, including:
(1) legal basis for appointment as head of internal audit unit 145
(2) work experience and time period both inside and outside the Issuer or Public Company
c qualification or certification in the internal audit profession (if any)
d training and/or competence development attended in the financial year 145
e structure and position of the internal audit unit 143-144
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 379
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About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
Description Page
f description of duties and responsibilities 143
g statement that there is a guideline or charter of the internal audit unit 143
h brief description of the implementation of the duties of the internal audit unit in the financial year
including the policy and implementation of the frequency of meetings with the Board of Directors, Board of 145
Commissioners, and/or audit committee
11 description of the internal control system implemented by the Issuer or Public Company, at least regarding:
a financial and operational control, as well as compliance with other laws and regulations
b review of the effectiveness of the internal control system 146
c statement of the Board of Directors and/or Board of Commissioners on the adequacy of the internal control
system
12 risk management system implemented by the Issuer or Public Company, at least regarding: 147-150
a overview of the risk management system in the Issuer or Public Company 147
b types of risks and ways to manage them 148
c review of the effectiveness of the risk management system 150
d statement from the Board of Directors and/or the Board of Commissioners or the audit committee on the
150
adequacy of the risk management system
13 legal cases with a material impact involving the Issuer or Public Company, its subsidiaries, the members of
the Board of Directors and members of the Board of Commissioners (if any), at least regarding:
a legal case/lawsuit matter 151
b status of settlement
c effect on the condition of the Issuer or Public Company
14 information on administrative sanctions imposed on the Issuer or Public Company, members of the Board
of Commissioners and members of the Board of Directors, by the Financial Services Authority and other 151
authorities in the financial year (if any)
15 information on the code of ethics prevailing in the Issuer or Public Company, including: 223
a code of ethics 223-224
b dissemination of the code of ethics and enforcement mechanisms 224
c statement that the code of ethics applies to members of the Board of Directors, members of the Board of
224
Commissioners, and employees of the Issuer or Public Company
16 brief description of the policy of providing long-term performance-based compensation to management
and/or employees of the Issuer or Public Company (if any), including the management stock ownership
program (MSOP) and/or employee stock ownership program (ESOP)
In the event that the compensation is provided in the form of MSOP and/or ESOP, the information disclosed
must at least contain:
185
a number of shares and/or options
b implementation period
c requirements for the eligibility of employees and/or management
d exercise price or determination thereof
17 brief description of the information disclosure policy, regarding:
a share ownership of members of the Board of Directors and members of the Board of Commissioners no later
than 3 (three) working days after the occurrence of ownership or any change in ownership of shares of a 219-222, 226
Public Company
b implementation of said policy
380 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
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Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
Description Page
18 description of the whistleblowing system prevailing in the Issuer or Public Company, at least regarding:
a mechanism for reporting submission
b protection for whistleblowers
c handling of complaints/reports
d party managing the reports
156
e results of the handling of complaints/reports, at least:
(1) the number of reports received and processed in the financial year
(2) follow-up to the reports.
In the event that the Issuer or Public Company does not have a whistleblowing system, then this shall be
disclosed
19 description of the anti-corruption policy of the Issuer or Public Company, at least regarding:
a programs and procedures carried out to address practices of corruption, kickbacks, fraud, bribery and/or
gratuities in the Issuer or Public Company
225
b anti-corruption training/dissemination thereof to employees of the Issuer or Public Company
In the event that the Issuer or Public Company does not have an anti-corruption policy, the reasons for not
having said policy shall be provided
20 implementation of the guidelines for the governance of issuers and public companies, including:
a a statement regarding the recommendations that have been implemented and/or
229-231
b b) an explanation of the recommendations that have not been implemented, along with reasons and
alternative implementations (if any)
This information can be presented in tabulated format
h Issuer or Public Company’s Corporate Social and Environmental Responsibility 158-179
1 Information disclosed in the corporate social and environmental responsibility chapter shall be the
Sustainability Report as referred to in the Financial Services Authority Regulation No. 51/POJK.03/2017 on the
158-179
Implementation of Sustainable Finance for Financial Services Institutions, Issuers, and Public Companies, and
the report shall contain at least:
a explanation of sustainability strategy 160-163
b overview of sustainability aspects (economic, social, and environmental) 10-11
c brief profile of the Issuer or Public Company 42-81, 180-246
d explanation by the Board of Directors 32-34
e sustainability governance 129-130
f sustainability performance 164-179
g written verification from an independent party, if any None
h feedback sheet for readers, if any 368
i Issuer or Public Company’s response to the previous year’s report feedback No feedback
was received
2 Sustainability Report as referred to in number 1) shall be prepared in accordance with the Technical
Guidelines for the Preparation of Sustainability Reports for Issuers and Public Companies, as contained in Yes
Appendix II of this Circular of the Financial Services Authority
3 information on the Sustainability Report in number 1) may:
a disclosed in other relevant sections outside of the social and environmental responsibility section, such as the
Directors’ explanation regarding the Sustainability Report disclosed in the section related to the Directors’
Report and/or
Yes
b refer to other sections outside the social and environmental responsibility section while still referring to the
Technical Guidelines for the Preparation of Sustainability Reports for Issuers and Public Companies as listed
in Appendix II which is an integral part of this Financial Services Authority Circular Letter, such as profiles
Issuer or Public Company
4 The Sustainability Report as referred to in number 1) is an inseparable part of the Annual Report, however it Not published
may be presented separately from the Annual Report separately
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About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
Description Page
5 In the event that the Sustainability Report is presented separately from the Annual Report, the information
disclosed in the Sustainability Report shall:
Not published
a contain all the information as referred to in number 1)
separately
b be prepared in accordance with the Technical Guidelines for the Preparation of Sustainability Reports for
Issuers and Public Companies as listed in Appendix II of this Circular of the Financial Services Authority
6 In the event that the Sustainability Report is presented separately from the Annual Report, then the social
Not published
and environmental responsibility section shall state that the information regarding social and environmental
separately
responsibility is disclosed in the Sustainability Report presented separately from the Annual Report
7 Submission of the Sustainability Report which is presented separately from the Annual Report must be done Not published
together with the submission of the Annual Report separately
i Audited Financial Statements for the Year
The financial statements contained in the Annual Report shall be prepared in accordance with the financial
accounting standards prevailing in Indonesia and have been audited by a public accountant registered with
the Financial Services Authority. Said annual financial statements shall contain a statement regarding the
248-365
accountability for the financial statements as regulated in the Financial Services Authority Regulation on
the responsibility of the Board of Directors for financial reporting, or the laws and regulations in the capital
market which regulate the periodic reporting of securities companies, in the event that the Issuer is a
securities company
j Statement Letter of Members of the Board of Directors and Members of the Board of Commissioners
regarding Responsibility for the Annual Report
The statement letter from members of the Board of Directors and members of the Board of Commissioners 38-39
regarding the responsibility for the Annual Report shall be prepared in accordance with the prescribed
format provided in Appendix I of this Circular of the Financial Services Authority
382 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
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Good Corporate Sustainability Corporate Data Annual Financial Appendices
Governance Statements
POJK 51/2017
IMPLEMENTATION OF SUSTAINABLE FINANCE FOR FINANCIAL
SERVICES INSTITUTIONS, ISSUERS, AND PUBLIC COMPANIES
Description Page
1 Explanation on sustainability strategy
2 Summary of sustainability aspects
a Economic aspect, including:
1. Quantity of products/services sold
2. Income/sales
3. Net profit/loss 10-11
4. Environmentally friendly products
5. Local parties involvement related to the Sustainable Finance business process
b Environmental aspect, including:
1. Energy usage (among others, water and electricity)
2. Emission reduction (for companies whose business processes are directly related to the environment)
170
3. Reduction of waste and effluents into the surrounding environment (for companies whose business processes
are directly related to the environment)
4. Conservation of biodiversity (for companies whose business processes are directly related to the environment) 172-173
c Social aspect 165-167, 174-178
3 Brief profile of the company
a Vision, mission, sustainability value 47
b Name, address, telephone number, facsimile number, e-mail address, and website, and also branch offices and/or
44-45
representative offices
c Business scale, covering:
1. Total assets/asset capitalization and total liabilities
2. Total employees based on gender, position, age, education, and status of employment 44-45, 49, 56-57
3. Percentage of share ownership
4. Operational areas
d Brief explanation of products, services, and business activities 54-55
e Membership in associations 44
f Significant changes, among others those related to the closure or opening of branches and ownership structure 45
4 Directors’ exposition
a Policy to respond to challenges in the fulfillment of sustainability strategy, including:
1. Explaination of sustainability value for the Company
2. Explanation of the Company’s response to issue related to the implementation of Sustainable Finance
3. Explanation of the Company’s leadership’s commitment towards the implementation of Sustainable Finance
4. Performance achievement regarding the implementation of Sustainable Finance
5. Challenges related to the implementation and performance of Sustainable Finance
b Implementation of Sustainable Finance, including:
1. Target vs. achievements 32-34
2. Achievements and challenges during the reporting period
c Strategy to achieve the targets, including:
1. Risk management related to the implementation of Sustainable Finance
2. Utilization of business opportunities and prospects
3. Explanation of the external economic, social and environmental milieu that may affect the Company’s
sustainability
2024 Integrated Annual Report | PT BFI Finance Indonesia Tbk 383
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About This Report 2024 Performance Reports to Stakeholders Company Profile Management Discussion
Highlights and Analysis
Description Page
5 Sustainability governance
a Roles and responsibilities of the Board of Directors and the Board of Commissioners, employees, officers and/or
129, 190, 200-201
work units responsible for implementing Sustainable Finance
b Competence development for members of the Board of Directors, members of the Board of Commissioners,
135-136
employees, officers and/or work units responsible for implementing Sustainable Finance
c Identification, measurement, monitoring and
147-150
control of risks related to the implementation of Sustainable Finance
d Description of the stakeholders, including:
1. Stakeholder involvement based on management’s assessment, AGMS, decree, or other
11, 130
2. Approach employed by the Company in involving stakeholders in the implementation of Sustainable Finance
e Problems, developments, and effects on the implementation of Sustainable Finance
6 Sustainability performance
a Internal activities to foster the sustainability culture in the Company 163
b Description of economic performance in the last 3 years, including:
1. Comparison of production targets vs. achievements, portfolio, financing/investment targets, income and profit
and loss
10, 14, 16-17
2. Comparison of portfolio targets and performance, financing/investment targets in financial instruments or
projects in line with the implementation of Sustainable Finance
c Social performance in the last 3 years, including:
1. The Company’s commitment to providing equitable products/services to customers 179
2. Employment, including: 164-169
a. Statement of equality of employment opportunities and the presence/absence of forced labor and child
164
labor
b. Percentage of permanent employee remuneration at the lowest level compared to the regional minimum
168
wage
c. A decent and safe work environment 169
d. Employee training and competence development 165-168
3. Society, including: 174-178
a. Operational activities or areas that have positive and negative impacts on the surrounding community,
174-178
including financial inclusion and literacy initiatives
b. Mechanisms for the public to air grievances and the number of grievances received and followed up 219-222
c. CSR related to the fulfillment of sustainable development goals, including the types and achievements of
174-178
community empowerment programs
d Environmental performance, including: 162-163, 170-173
1. Environmental costs incurred 162-163
2. Use of environmentally friendly materials (for example, recyclable or recycled products)
3. Energy usage, including:
170
a. Amount and intensity of energy used
b. Energy efficiency initiatives and achievements, including utilization of renewable energy
e Environmental performance for companies whose business processes are directly related to the environment Not applicable
f Responsibility for developing Sustainable Finance products and/or services, including: 96-97, 179
1. Innovation and development of Sustainable Finance products and/or services 179
2. The number and percentage of products/services that have been evaluated for its safety Not applicable
3. Positive and negative impacts caused by products and/or services, distribution processes, and the mitigation
179
thereof
4. Number of products withdrawn and their reasons None
5. Customer satisfaction surveys for Sustainable Finance products and/or services 96-97
7 Written verification from an independent party, if present None
384 PT BFI Finance Indonesia Tbk | 2024 Integrated Annual Report
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2024 Integrated
Annual Report
PT BFI Finance Indonesia Tbk
BFI Tower
Sunburst CBD Lot 1.2
Jl. Kapt. Soebijanto Djojohadikusumo
BSD City, Tangerang Selatan 15322
Indonesia
1500018
corsec@bfi.co.id
www.bfi.co.id
Names mentioned 162 people and organisations named in the text · linked when the evidence is strong
unresolved
org
PT BFI Finance Our
p.7
unresolved
org
Indonesia Tbk
p.7 ×4
unresolved
org
PT Finansial Integrasi Teknologi
p.7 ×4
unresolved
org
PT BFI Finance
p.29 ×2
unresolved
person
Kartini Muljadi
· Notaris
p.44 ×3
unresolved
org
Minister of Justice
p.44 ×3
unresolved
org
Ministry of Justice
p.44
unresolved
org
PT Rapi Utama Indonesia
p.44
unresolved
org
PT BFI Finance Call Center
p.45
unresolved
org
PT Manufacturers Hanover Leasing Indonesia
p.48
unresolved
org
Manufacturers Hanover Leasing Corporation
p.48 ×2
unresolved
org
Minister of Finance
p.48 ×2
unresolved
org
Essompark Ltd.
p.48
unresolved
org
PT Bunas Intitama Leasing Indonesia
p.48
unresolved
person
Inge Hendarmin
· Notaris
p.48
unresolved
org
Bunas Finance Indonesia Tbk.
p.48 ×6
unresolved
person
Aulia Taufani
p.48
unresolved
person
Sutjipto
p.48
unresolved
org
Minister of Law
p.48 ×2
unresolved
person
Shanti Indah Lestari
· Notaris
p.48 ×10
unresolved
org
Ministry of Law and Human Rights
p.48 ×2
unresolved
org
PT Manufacturers Hanover
p.50
unresolved
org
Indonesia Stock Exchange
p.50 ×3
unresolved
person
Garibaldi
p.51
unresolved
person
Johanes Sutrisno
· Commissioner
p.59
unresolved
org
PT FIT
p.60 ×14
unresolved
org
PT Sertifikasi Profesi Pembiayaan Indonesia
p.63 ×2
unresolved
org
PT Adaro Power
p.63 ×2
unresolved
org
PT Setiabudi Investment Management
p.63
unresolved
org
Komatsu Ltd
p.63
unresolved
org
Minister of Research and Technology
p.63
unresolved
org
PT Gaudi Dwi Laras
p.63
unresolved
org
Mutual International Finance Corporation
p.63
unresolved
org
Alfonso Napitupulu & Partners
p.64
unresolved
org
PT BRI Asuransi Indonesia Independent
p.64
unresolved
org
PT Kredit Biro Indonesia Jaya
· Commissioner
p.64
unresolved
org
PT Nana Mandiri Dwikarya
p.64
unresolved
org
Gani Djemat & Partners
p.64
unresolved
org
Northstar Advisors Pte. Ltd.
p.64 ×2
unresolved
org
Bank Tabungan Pensiunan Nasional Tbk
p.64 ×2
unresolved
org
PT Danareksa Sekuritas
p.64
unresolved
org
PT Lippo Securities
p.64
unresolved
org
Warburg Pincus LLC
p.65
unresolved
org
Oona Holding Pte. Ltd.
p.65
unresolved
org
AAG Energy Holdings Ltd.
p.65
unresolved
org
CleanMax Enviro Energy Solutions Pvt. Ltd.
p.65
unresolved
org
Solar Mosaic LLC
p.65
unresolved
org
Mosaic Inc.
p.65
unresolved
org
Canbriam Energy Inc.
p.65
unresolved
org
Delonex Energy Ltd.
p.65
unresolved
org
Velvet Energy Ltd.
p.65
unresolved
org
Venari Resources LLC
p.65
unresolved
org
Liberty Wireless Pte. Ltd.
p.65
unresolved
org
M-Service GmbH
p.65
unresolved
—
EGMS. Appointed
· Director
p.66
unresolved
org
PT FIT. He
p.66
unresolved
person
Committee
· President Director
p.66 ×2
unresolved
org
Ministry of Finance
p.66
unresolved
org
PT Indovest
p.66
unresolved
org
PT Tjiwi Kimia Pulp
p.66
unresolved
org
PT Bunas Finance Indonesia Indonesian Citizen
p.66
unresolved
org
PT FIT. Sudjono
p.67
unresolved
org
Management Committee
· Director
p.67
unresolved
org
PT Sinar Mitra Sepadan
p.69
unresolved
person
K.H. Ma’ruf Amin
p.69
unresolved
org
Yayasan Pendidikan Fatahillah
p.70
unresolved
org
Palilingan & Rekan
p.71
unresolved
org
PT Kiat Ananda Cold Storage
p.71
unresolved
org
PT Ananda Solusindo
p.71
unresolved
org
PT Manggala Kiat Ananda
p.71
unresolved
org
PT Mitra Ananda Megadistrindo
p.71
unresolved
org
PT Bersama Untuk Nusantara
p.71
unresolved
org
PT Cisarua
p.71
unresolved
org
PT Gayatri Kapital Indonesia
p.71
unresolved
org
PT Kliring Edy Sugito
p.71
unresolved
org
PT Kustodian Sentral Efek
p.71
unresolved
org
PT FWD Insurance Indonesia
p.72
unresolved
org
PT Nusantara Finance Cakrawala
p.72
unresolved
org
PT Bank Commonwealth
p.72
unresolved
org
PT Commonwealth Life
p.72
unresolved
org
PT Mudita Finansial Teknologi
p.72
unresolved
org
PT Kiran Resources Indonesia
p.72
unresolved
org
PT Bank BNP
p.72
unresolved
org
PT Bank Barclays Indonesia
p.72
unresolved
org
PT BII Finance Risk Oversight Committee
p.72
unresolved
org
Bank Indonesian Citizen
p.72
unresolved
org
PT Tanjung Johor Wood Industry
p.72
unresolved
org
Sertifikasi Manajemen Risiko
p.72
unresolved
org
PT SC A
p.76
unresolved
person
Herna Gunawan
p.79 ×2
unresolved
org
Minister of Law and Human Rights
p.79
unresolved
—
Banten Appointed
· President Director
p.80
unresolved
person
Veronika Farida Riswanti
p.80 ×3
unresolved
org
Bank Indonesia
p.85
unresolved
person
Title
· Presiden Direktur
p.252 ×3
unresolved
person
Fathiah Helmi
· Notaris
p.265 ×2
unresolved
person
Aryanti Artisari
· Notaris
p.265 ×2
unresolved
org
Ministry of Law
p.267 ×2
unresolved
org
Kementerian Hukum dan Hak Asasi Manusia Republik
p.267 ×2
unresolved
person
H.S.S.U. M.
p.267 ×2
unresolved
person
Sianturi
p.267 ×3
unresolved
org
Kementerian Hukum dan Hak
p.267 ×2
unresolved
org
Ministry of Asasi Manusia Republik Indonesia
p.267 ×2
unresolved
person
Geraldine H.S.S.U. Geraldine H.S.S.U. Sianturi
· Notaris
p.267 ×8
unresolved
org
Kementerian Hukum dan Hak Asasi Manusia
p.267 ×3
unresolved
person
Tjiu Herman Handoko
· Presiden Direktur
p.268 ×2
unresolved
person
Ichwan Peryana
· Direktur
p.268
unresolved
person
Muhamad Fauzi Purnama
· Direktur
p.268 ×3
unresolved
org
Bravo Investment Limited
p.268
unresolved
org
BAPEPAM
p.268 ×2
unresolved
org
BAPEPAM-LK
p.268 ×12
unresolved
person
Lestari
p.270 ×3
unresolved
org
Kementerian
p.270 ×3
unresolved
org
Ministry of Law and Human dan Hak Asasi Manusia Republik Indonesia
p.270 ×3
unresolved
org
Ministry of Law and Human
p.270 ×3
unresolved
org
Pengawas
p.272
unresolved
org
PT Raya Saham Registra
p.335 ×2
unresolved
org
Trinugraha Capital & Co SCA
p.335
unresolved
—
(masing-masing di bawah 5%)
p.335
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