Akulaku Finance and Permata Bank Establish Strategic Cooperation to Improve Services and Financial Inclusion

Jakarta, 2 September 2021– A digital-based financing company part of the Akulaku Group, PT Akulaku Finance Indonesia, has entered into a strategic partnership with PT Bank Permata Tbk (PermataBank). Through this collaboration, Akulaku Finance obtained a funding facility from PermataBank which will be used to improve consumer service and financial inclusion in Indonesia.

President Director of Akulaku Finance Indonesia Efrinal Sinaga said that the provision of this facility was a sign of the high level of trust and commitment given to Akulaku Finance Indonesia. Akulaku Finance will use the funding facility to increase the capacity and variety of multi schemes of funding for corporate financing distribution to Akulaku Finance Indonesia’s customers.

“This funding facility from PermataBank is a facility at the right moment of truth when increasing the lifestyle of people who tend to be digital, contactless, and cashless so that it allows Akulaku Finance Indonesia to be able to serve more digital-based financing customers throughout Indonesia in line with growth. financing throughout 2021,” he said.

He revealed that the strategic collaboration with PermataBank is a form of close and visionary collaboration between banks and digital-based financing service providers, especially in the commitment to realizing financial inclusion and providing the best service for Akulaku Finance Indonesia and PermataBank customers.

“In the face of changes like what is happening now, banks and digital financial services businesses such as Akulaku Finance must collaborate more and more to strengthen ecosystems and data mining with each other. We will continue to maintain the trust of our banking partners by implementing good risk mitigation measures,” said Efrinal

Djumariah Tenteram, Director of Retail Banking PermataBank said, “It is PermataBank’s commitment to continue to develop banking digitalization and support the development of our strategic partners, especially through partnerships with a leading technology-based finance company, PT. Akulaku Finance Indonesia, which has a broad customer base portfolio and is in line with PermataBank’s current risk appetite. Through this partnership, we hope to be able to reach quite a large number of unbanked and underserved consumers while at the same time providing broader access to finance for the people of Indonesia.”

PermataBank continuously builds partnerships with various strategic partners in order to expand market share penetration and at the same time strengthen collaboration with technology-based financing companies that have various advantages by leveraging technological capabilities. This strategy was carried out to support the growth of the consumer financing business which was impacted during the pandemic and to support PermataBank’s performance as one of the largest banks in Indonesia. In the second quarter of 2021, PermataBank’s operating income grew 19% YoY, supported by a growth in total assets of 34.8% YoY to IDR 212.9 trillion and recorded PermataBank as one of the 10 largest commercial banks in Indonesia based on total assets.

Akulaku Finance recorded a financing performance of more than IDR 4.9 trillion throughout the first semester of 2021, with an NPF rate of 0.6%. The company also targets to distribute financing of IDR 7 trillion throughout 2021.