Jakarta, November 10, 2021 – Observing that MSMEs are one of the main pillars of the Indonesian economy, PT Bank Central Asia Tbk (BCA) as one of the national banks continues to encourage the strengthening of the role of MSMEs through various programs and collaborations. Most recently, BCA supports the Government's program to provide access to inclusive financing for Micro, Small and Medium Enterprises (MSMEs) through a cooperation agreement with PT Modal Rakyat Indonesia (Modal Rakyat).
The signing of the cooperation agreement was represented by Senior Vice President Commercial & SME Business of BCA Elvriawati Tumewah and CEO of Modal Rakyat Hendoko Kwik in Jakarta. This collaboration is a form of BCA's efforts to expand its business network and financing reach to MSME debtors by collaborating with fintech companies.
“In line with the Government's commitment where financial inclusion is Indonesia's priority, BCA as a financial institution is also committed to fully support it. We observe that business development in the current digital era is increasing rapidly so that various fintechs have emerged to meet the various needs of the community. BCA sees the existence of fintechs has succeeded in opening new door for the development of the banking business in the country," Elvriawati explained.
Modal Rakyat will be a bridge between BCA and MSMEs that need business capital. Through this collaboration, BCA allocates cooperation fund of IDR 20 billion which will be distributed to MSMEs that are developing their business. Meanwhile, this collaboration will be implemented through channeling of financing with loan plafond per debtor maximum of IDR 2 billion with maximum period of 3 months tenor.
Elvriawati added that until October 2021, BCA has recorded a total Disbursement of Digital Partnership reaching IDR 145.76 billion through various financing schemes. Several programs supporting this digital partnership include Business Personal Loan Direct, Business Personal Loan E-commerce and Channeling Fintech.
As an additional information, Modal Rakyat is a financial technology-based company that brings together lenders with MSME borrowers, providing solutions for MSMEs intended to get loans practically, quickly, and easily. Modal Rakyat itself has been funding since 2018 and so far disbursed loans of more than IDR 2 trillion for all loan programs.
“We hope that the transformation of MSMEs will become stronger through this strategic collaboration between BCA and Modal Rakyat. In the future, BCA will continue to strive to provide access to inclusive financing to MSME entrepreneurs so that in the end we can support the economic transformation of MSMEs in Indonesia," Elvriawati concluded.
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About PT Bank Central Asia Tbk (as of 30 September 2021)
BCA is one of the leading commercial banks in Indonesia with the core business of transaction banking. BCA also offers a full range of financial services in consumer, SME, commercial and corporate segments. As of September 2021, BCA has the privilege of serving more than 26 million customer accounts, processing around 46 million of daily transactions through a network of 1,237 branches; 17,913 ATMs as well as the 24-hour internet & mobile banking systems; supported by 24/7 Halo BCA contact center. BCA’s presence is complemented by a number of subsidiaries focusing on vehicle financing, sharia banking, securities, general and life insurance, digital bank, remittance as well as venture capital business. BCA is committed to building lasting relationship with customers, putting people first, and making positive impact on society at large. With more than 25,000 employees, BCA's vision is to be the bank of choice and a major pillar of the Indonesia economy.
For more information, please contact :
PT BANK CENTRAL ASIA TBK
Corporate Secretary & Communication
Public Relations
Address : Jl. MH Thamrin No. 1
Menara BCA Grand Indonesia 20th Floor
Jakarta Pusat 10310
Phone : (021) 2358-8000
Fax : (021) 2358-8339
E-mail : corcom_bca@bca.co.id
