News Update
Saturday, 12 Nov 2016
Jakarta, 11 November 2016 - Group Lease PCL, a company based and registered in Thailand to develop its business in Indonesia, has established a joint venture company called PT Group Lease Finance Indonesia (hereinafter “GLFI”). Some of the GLFI shares (20% of total issued share) is owned by JTRUST ASIA PTE. LTD., which is a subsidiary of J Trust Co. Ltd., a financial group in Japan and controlling shareholder of Bank JTrust Indonesia with 98.997% ownership.
In order to expand a business in Indonesia, GLFI is collaborated with Bank JTrust Indonesia. This partnership is realized in the form of joint financing with channeling scheme. In this scheme, Bank JTrust Indonesia is lending through GLFI to finance in the agricultural sector. Currently, Bank JTrust Indonesia has agreed to grant financing cooperation with GLFI at the amount of Rp 100 billion.
GLFI has started financing for agricultural machineries in Indonesia this July and moreover, according to the GLFI’s President Commissioner Mr. Mitsuji Konoshita, the joint venture will soon start to provide financing for motorcycles, multipurpose house, solar panels and electrical appliances by utilizing 59 branch offices of Bank JTrust Indonesia.
From Rp 100 billion ceiling provided by Bank JTrust Indonesia, we have been successfully reached out to GLFI’s customers and the loan amount disbursed exceeded Rp 10 billion only within 2 months since its start operation this September.
Management of Bank JTrust Indonesia is optimistic that the cooperation with GLFI will go well and be able to expand the bank’s financing business. With the support of the parent company Group Lease PCL, which has successfully developed the similar businesses in Thailand, Cambodia, and Laos, then accelerating the business expansion in Indonesia with partnering with Bank JTrust Indonesia, will grow rapidly. The potential of agricultural sector in Indonesia is still widely untapped, and it gives a great opportunity to GLFI to activate the business in Indonesia. For the early stage, financing in the agricultural sector will be carried out in the island of Bali, Java and Sumatera, which is distributed through cooperatives or farmer groups, with attractive deals where financing up to 80% of the price of the object financed.
For further information, please contact:
Corporate Secretary Division
Bank JTrust Indonesia
Attn. Adi Bintoro Soerjohoesodo - Division Head
Phone: +62 21 - 2926 1111
Email: adi.bintoro@jtrustbank.co.id
