In an effort to foster sustainable solutions to support Indonesia’s energy transition, Bank DBS Indonesia extended a USD 50 million trade facility to Permata Group which will be used specifically to bolster its biodiesel sales operations. This initiative underscores a commitment to support energy transition and promote low-carbon industrial practices.

The trade finance facility provided by Bank DBS Indonesia will empower Permata Group to scale biodiesel production at its refineries which are certified under RSPO’s Supply Chain Certification Standard. This also aligns with Indonesia’s increased mandatory biodiesel blending mandate, playing a critical role in reducing greenhouse gas emissions while enhancing energy security in Indonesia.

Corporate Banking Director of PT Bank DBS Indonesia Kunardy Darma Lie said, "Biodiesel is one of the cornerstones of Indonesia’s energy transition strategy, significantly reducing reliance on fossil fuels. We are proud that our financing plays a pivotal role not only in supporting the Permata Group but also in advancing Indonesia’s sustainability agenda. As the mandatory blend continues to increase, there is no better time than now to champion the growth of biodiesel. As a trusted advisor in sustainability financing, we are committed to guiding our clients and partners toward impactful and responsible investments."

Established in 1984, Permata Group is an integrated palm oil company with a strong sustainability commitment. An RSPO member since 2006, Permata Group has made continuous progress in its sustainability journey including implementing a No Deforestation, No Peat, and No Exploitation (NDPE) policy across its supply chain. With major business lines across the value chain, Permata Group has been expanding their biodiesel business, aligning with Indonesia’s energy transition strategy.

Finance Director Permata Group Andrew Luhur said, “Transitioning to biodiesel plays a big role in the energy sector’s decarbonization journey. We hope by increasing our biodiesel production supported by the facility from DBS Bank, Permata Group can continue to contribute to the growth of Indonesia’s biofuel industry in achieving the Government’s target.”

About DBS
DBS is a leading financial services group in Asia with a presence in 19 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 Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. 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 15 consecutive years from 2009 to 2023. DBS Indonesia is ranked second in the top as World’s Best Bank in Indonesia for three consecutive years from 2020 to 2022.

Established in 1989 as part of the Singapore-based DBS Group, PT Bank DBS Indonesia (Bank DBS Indonesia) is one of the banks with the longest history in Asia. Currently operating 1 Head Office, 13 Branch Offices, 16 Assistant Offices and 4 Functional Offices and 3,011 active employees in 15 Major Cities in Indonesia, Bank DBS Indonesia provides comprehensive banking services in the corporate, SME and consumer banking segments that focuses on the customer experience to 'Live more, Bank less'. We also see a purpose beyond banking and are committed to supporting our customers, employees and the community towards a sustainable future.

PT Bank DBS Indonesia is licensed and supervised by The Indonesian Financial Services Authority (OJK), and an insured member of Indonesia Deposit Insurance Corporation (LPS).

DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting businesses for impact: enterprises with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping underserved communities with future-ready skills and helping them to build food resilience.

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 www.dbs.com.

Bank DBS Indonesia reinforces energy transition through USD 50mn trade financing for Permata Group's biodiesel business