Bank DBS Indonesia provides USD16 Million financing for Indomobil to support electric vehicle industry growth | Bahasa
Indonesia.07 Sep 2023.3 min read
Indonesia, 07 Sep 2023 - PT Bank DBS Indonesia (Bank DBS Indonesia) signed an agreement to provide USD16 million, equivalent to IDR244 billion, of financing for PT Indomobil Sukses Internasional, Tbk (Indomobil). The agreement was signed by Executive Director of Institutional Banking Group, PT Bank DBS Indonesia Ello Hanson, Vice President of Institutional Banking Group, PT Bank DBS Indonesia Thalianita, President Director PT Indomobil Sukses Internasional, Tbk Jusak Kertowidjojo, and Director of PT Indomobil Sukses Internasional, Tbk Evensius Go. The fund will be used to purchase battery electric vehicles (BEVs) and EV spare parts to support the government's sustainability agenda.
In accordance with its vision to become the "Best Bank for a Better World", Bank DBS Indonesia is committed to integrating environmental, social, and governance (ESG) aspects into every line of business based on three sustainability pillars, namely Responsible Banking, Responsible Business Practice, and Impact Beyond Banking. The collaboration between Bank DBS Indonesia and Indomobil is a manifestation of the first sustainability pillar, Responsible Banking, which focuses on responsible banking products that have a positive impact on the environment.
Executive Director of Institutional Banking Group, PT Bank DBS Indonesia Ello Hanson said, "As an advocate of energy transition, we realise that creating a more sustainable world entails a lot of aspects, including the transition from conventional vehicles to more environmentally friendly electric vehicles. Therefore, we provide a financing facility of USD16 million for Indomobil to help accelerate lower carbon electric vehicle purchases to support the realisation of a green economy. Going forward, we, DBS Bank, are committed to helping more companies transition to greener practices to achieve our net-zero emissions target by 2050 or sooner, as we have previously announced."
Indomobil is an integrated automotive business group established in 1976. Today, Indomobil has several diversified business lines, from two-wheelers, four-wheelers, buses, trucks, heavy equipment, logistics, vehicle rental, to fuels and lubricants, and multifinance. To support its sustainability mission, Indomobil has also started offering an extensive portfolio of electric vehicles (EVs) from top brands such as KIA, Nissan, Citroen, and Maxus. Indomobil also markets Yadea electric motorcycles (electric scooters). In addition, at the 2023 Gaikindo Indonesia International Auto Show (GIIAS), Indomobil and Inchcape introduced Chinese automotive company Great Wall Motor’s three electric car series, Haval, Tank, and Ora, to the market. Indomobil will distribute the models in a partnership with Inchcape.
"In accordance with our vision to be the most reliable and trusted automotive company in the country, we understand that a sustainable business that takes environmental sustainability into account should be the objective of all companies from every industry whose realisation requires concerted efforts of many parties. Therefore, we greatly appreciate the financing facility provided by Bank DBS Indonesia and we hope that this partnership will be a driving force for Indomobil's more sustainable business in the future," said President Director of PT Indomobil Sukses Internasional, Tbk Jusak Kertowidjojo.
In Indonesia, as of July 2023, DBS Bank Indonesia has provided Rp4 trillion in sustainable financing, up 253 percent from the previous year. Regionally, DBS Group's commitment to sustainable finance - green loans, renewable energy loans, sustainability loans, and transition loans – reached SGD61 billion by the end of 2022, exceeding the SGD50 billion target set two years earlier. In addition, to achieve its net-zero emissions target by 2050, DBS Group is taking a more proactive approach by launching a decarbonization guide entitled "Our Path to Net Zero-Supporting Asia's Transition to a Low-carbon Economy". The guide lists nine sectors as the main focus, namely the aviation, automotive, property, chemical, food and agriculture, oil and gas, energy, steel, and shipping sectors. Through these nine sectors, DBS Group is committed to accompanying corporate customers as an advisor as they transition to renewable energy.
For more information on DBS Group's sustainability commitments, visit the following page.
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 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, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting social enterprises: businesses 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 communities with future-ready skills and building 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.
In accordance with its vision to become the "Best Bank for a Better World", Bank DBS Indonesia is committed to integrating environmental, social, and governance (ESG) aspects into every line of business based on three sustainability pillars, namely Responsible Banking, Responsible Business Practice, and Impact Beyond Banking. The collaboration between Bank DBS Indonesia and Indomobil is a manifestation of the first sustainability pillar, Responsible Banking, which focuses on responsible banking products that have a positive impact on the environment.
Executive Director of Institutional Banking Group, PT Bank DBS Indonesia Ello Hanson said, "As an advocate of energy transition, we realise that creating a more sustainable world entails a lot of aspects, including the transition from conventional vehicles to more environmentally friendly electric vehicles. Therefore, we provide a financing facility of USD16 million for Indomobil to help accelerate lower carbon electric vehicle purchases to support the realisation of a green economy. Going forward, we, DBS Bank, are committed to helping more companies transition to greener practices to achieve our net-zero emissions target by 2050 or sooner, as we have previously announced."
Indomobil is an integrated automotive business group established in 1976. Today, Indomobil has several diversified business lines, from two-wheelers, four-wheelers, buses, trucks, heavy equipment, logistics, vehicle rental, to fuels and lubricants, and multifinance. To support its sustainability mission, Indomobil has also started offering an extensive portfolio of electric vehicles (EVs) from top brands such as KIA, Nissan, Citroen, and Maxus. Indomobil also markets Yadea electric motorcycles (electric scooters). In addition, at the 2023 Gaikindo Indonesia International Auto Show (GIIAS), Indomobil and Inchcape introduced Chinese automotive company Great Wall Motor’s three electric car series, Haval, Tank, and Ora, to the market. Indomobil will distribute the models in a partnership with Inchcape.
"In accordance with our vision to be the most reliable and trusted automotive company in the country, we understand that a sustainable business that takes environmental sustainability into account should be the objective of all companies from every industry whose realisation requires concerted efforts of many parties. Therefore, we greatly appreciate the financing facility provided by Bank DBS Indonesia and we hope that this partnership will be a driving force for Indomobil's more sustainable business in the future," said President Director of PT Indomobil Sukses Internasional, Tbk Jusak Kertowidjojo.
In Indonesia, as of July 2023, DBS Bank Indonesia has provided Rp4 trillion in sustainable financing, up 253 percent from the previous year. Regionally, DBS Group's commitment to sustainable finance - green loans, renewable energy loans, sustainability loans, and transition loans – reached SGD61 billion by the end of 2022, exceeding the SGD50 billion target set two years earlier. In addition, to achieve its net-zero emissions target by 2050, DBS Group is taking a more proactive approach by launching a decarbonization guide entitled "Our Path to Net Zero-Supporting Asia's Transition to a Low-carbon Economy". The guide lists nine sectors as the main focus, namely the aviation, automotive, property, chemical, food and agriculture, oil and gas, energy, steel, and shipping sectors. Through these nine sectors, DBS Group is committed to accompanying corporate customers as an advisor as they transition to renewable energy.
For more information on DBS Group's sustainability commitments, visit the following page.
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 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, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting social enterprises: businesses 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 communities with future-ready skills and building 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.
