Jakarta, Wednesday, 13 October 2021 -- PT Bank Negara Indonesia (Persero) Tbk (BNI) and PT Pertamina Lubricants signed a cooperation agreement related to the provision of Distributor Financing facility. PT Pertamina Lubricants is a subsidiary of PT Pertamina Patra Niaga, Sub Holding Commercial & Trading PT Pertamina (Persero), which manages the automotive and industrial lubricants business.
The financing facility for Pertamina lubricant distributors is equipped with BNI Financial Supply Chain Management (BNI FSCM) platform which will strengthen and accelerate capital turnover.
The signing of the collaboration was carried out between the Head of Corporate Business Division 2 of PT Bank Negara Indonesia (Persero) Tbk., Ditya Maharhani Harninda and the Finance & Business Support Director of PT Pertamina Lubricants, Catur Dermawan in Jakarta, Wednesday (13 October 2021).
This Distributor Financing facility program provides convenience for PT Pertamina Lubricants’ distributors/partners in the submission process for credit facility and a short approval system. PT Pertamina Lubricants can also monitor all submissions and distributor invoicing processes in real time (online).
The Head of Corporate Business Division 2 of PT Bank Negara Indonesia (Persero) Tbk., Ditya Maharhani Harninda said that value chain management through the provision of Distributor Financing facility from BNI will increase the efficiency and corporate profits through cost reduction and working capital optimization. Working capital optimization is carried out by regulating cash flow and accelerating the cash-conversion-cycle both on the corporate side and its corporate partners (distributors).
In addition to having a complete credit financing scheme, BNI has digital-based and integrated services and forms a closed loop ecosystem, namely Integrated Cash Management, API Open Banking, Online Trade Finance Services, Online Bank Guarantees, BNI Mobile Banking, payments via EDC and QR Code, e-payment and other digital BNI services.
At the same time, the Finance & Business Support Director of PT Pertamina Lubricants, Catur Dermawan said that this collaboration is one of PT Pertamina Lubricants' strategies to continue to encourage its role in business growth, improve performance and also sales of Pertamina Lubricants.
"This banking solution makes it easy for our distributors to quickly, easily and innovatively manage transactions and help maintain distributor cash flow," said Catur.
“Our distributors have a very big role in achieving the company's targets, so there is a need for financing solutions and a financing service system of the highest quality to facilitate distributors' work and improve their performance. We hope that this collaboration can continue to be carried out correctly, properly organized and evaluated, so that the quality of service can benefit both parties and of course to Pertamina Lubricants consumers. Not only that, this collaboration provides an opportunity for BNI to channel financing to the best distributor of PT Pertamina Lubricants with mitigated risks," concluded Catur.
This collaboration is a tangible form of Pertamina Go Collaborative between SOEs that are able to support business process improvements for all stakeholders.
For more information, please contact:
BNI Corporate Secretary