Bank DBS Indonesia disburses a loan of IDR2 trillion to Bukalapak

Indonesia.18 Nov 2021
Indonesia, 18 Nov 2021 - PT Bank DBS Indonesia (Bank DBS Indonesia) officially announced the loan funds distribution of Rp2 trillion to the all-commerce technology company, PT Tbk. (BUKA) at the signing of the cooperation agreement on November 12, 2021.

This loan fund is an uncommitted revolving short-term loan with a tenor of one year until November 12, 2022, with a loan agreement made without any special guarantees or collateral. This collaboration is the largest loan facility provided by Bank DBS Indonesia to e-commerce players, as well as marking the first loan ever received by Bukalapak.

Kunardy Lie, Corporate Banking Director of PT Bank DBS Indonesia said, “This is a historic transaction for us and also for the all-commerce technology industry in Indonesia. This is a very special transaction – a loan agreement with a significant value and given to the country's first e-commerce company that has been listed on the Indonesia Stock Exchange, to develop its business. Bank DBS Indonesia strongly supports Bukalapak's work in encouraging the growth of SMEs in Indonesia, and with this loan, Bank DBS Indonesia has also indirectly supported the development of SMEs in Indonesia."

Rachmat Kaimuddin, President Director of PT Tbk said, "The acquisition of this loan facility is part of Bukalapak's strategy to diversify funding sources other than equity. This also shows the higher level of confidence the financial industry has in the development of Bukalapak's business. For this reason, we really appreciate the trust given by Bank DBS Indonesia in an effort to strengthen our financial position. Bukalapak will continue to focus on maintaining the momentum of the company's performance which is getting better for sustainable growth and increasing profitability."

As a bank that understands customer needs, Bank DBS Indonesia provides various banking facilities for corporate customers, including SMEs. This also strengthens Bank DBS Indonesia's commitment to adopting open banking by synergizing with marketplaces, payment system service providers, fintech, or other digital industry players.



About DBS
DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.

Recognised for its global leadership, DBS has been named “World’s Best Bank” by Euromoney, “Global Bank of the Year” by The Banker and “Best Bank in the World” by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 13 consecutive years from 2009 to 2021.

DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit