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16 April 2021

Enhancing Business Performance bank bjb Strengthens Cooperation with Krakatau Steel Group

CILEGON-In order to improve business performance in 2021, bank bjb continues to make synergies and collaborations with various parties. The Krakatau Steel Group is no exception as one of BUMNs (SOE) with good business track record.

The latest collaboration between bank bjb and Krakatau Steel Group is credit distribution to PT Krakatau National Resource (KNR). This marked by the signing of cooperation agreement (PKS) between two parties in a series of BUMN-BUMD Synergy events between PT Krakatau Steel (Persero) Tbk & Group and BUMD (ROE) West Java, at the Convention Hall of Royal Krakatau Hotel, Cilegon, Banten, Thursday (15 / 4/2021).

In that cooperation agreement, bank bjb will distribute credit worth Rp.78 billion to PT KNR. In addition, bank bjb is also proceeding the request from PT Krakatau Information Technology to strengthen cooperation between two parties.

President Director of bank bjb Yuddy Renaldi said the agreement made would add to the long list of cooperation between bank bjb and Krakatau Steel Group, which currently has reached a total exposure of Rp.247.52 billion. The collaboration between those two has been formed since 2019.

"On this occasion, we also express our gratitude to the Krakatau Steel Group which has given trust to bank bjb to finance its business plans, both for investing in asset purchases or supporting its working capital," said Yuddy.

"In the future, with various added values that we can provide, we hope that the cooperation between bank bjb and Krakatau Steel Group gets stronger, so that bank bjb can become the bank for financial management," he continued.

The collaboration between bank bjb and Krakatau Steel Group include providing credit to a subsidiary of PT Krakatau Steel called PT Krakatau Bandar Samudera with limit Rp.150 billion with a current exposure of Rp.144.44 billion. As well PT Krakatau Jasa Logistik with a limit of Rp.30.7 billion with a current exposure of Rp.25.08 billion. In addition, in 2020, the subsidiary of PT Krakatau Steel, PT Wahana Sentana Baja, has a cash collateral facility with a current limit of Rp.15 billion.

On this occasion, the signing of a collaboration between a number of BUMNs and BUMDs in West Java was also carried out. West Java Governor Ridwan Kamil said this collaboration would give positive impact to the welfare of Indonesian people.

"I appreciate it, because it is a manifestation of the fifth principle of Pancasila, Social Justice for All Indonesian People. So not only BUMN, BUMD can also advance. Both are the same, eventually company income from both BUMN and BUMD will be channeled to the community. This collaboration is a spark of synergy to provide nothing but goodness," said Ridwan Kamil.

He also believes that the synergy between BUMN and BUMD in West Java will bring mutual benefits, given the performance of a number of BUMDs in West Java that survive brilliantly during Covid-19 pandemic outbreak, include bank bjb.

"bank bjb is the best BPD in Indonesia. When the others (growth) are decreased, bank bjb is the only one who recorded its positive growth. The key is one, I never compromise with its human resources, there is no intervention in the election," he said. He said, 6 BUMDs in West Java this year are listed in the category of best BUMD in Indonesia.


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