KPBN – Bank Woori Saudara Sign Cooperation MoU for Financing

The signing was conducted between Director of SME and Consumer Business Bank Woori Saudara Denny Novisar Mahmuradi and President Director  of PT. KPBN Iriana Ekasari in Jakarta.

The cooperation in the field of use and utilization of Bank Woori Saudara's products by purchasers at PT. KPBN both for cash financing products and non-cash facility as well as funding, especially for Tea commodity purchasers. PT. KPBN's position which has long been known as a world-class plantation commodity sales center has become an attraction for banks to establish cooperation. The transaction value that occurs at PT. KPBN which reaches Rp30 Trillion annually is a delicious cake itself.

"We see that commodity is a very large market. Incidentally, our focus is on SMEs," said Head of SME & Commercial Division Bank Woori Saudara Dendy Priyanto.

Dendy added, BWS's choice to cooperate with PT. KPBN in this cooperation was because PT. KPBN has good experience and infrastructure in this industry.

Meanwhile, in his speech, Director of SME and Consumer Business Bank Woori Saudara Denny Novisar Mahmuradi said, "with the support of BWS's parent company, Woori Bank Korea which is the second largest bank in South Korea, and the insurance guarantor company, we are ready to support this cooperation.

PT. KPBN is confident that this cooperation will develop positively because PT. KPBN has experience, network, infrastructure, and  strong reputation in the commodity sales industry, especially tea.

"PT.KPBN's basic service is as an agent to sell 7 main state plantation commodities, namely Palm Oil, Rubber, Tea, Coffee, Cocoa, Sugar, and Molasses. The sales value of tea commodities reaches hundreds of billions per year, it is the third largest commodity after CPO and rubber commodities”.

In the future, Iriana sees that the revitalization steps of the tea industry both upstream (bulk) and downstream will run well with support from supply chain financing (SCF).

Iriana emphasized, this financing cooperation is important to accelerate the revitalization and growth of the tea industry and outside PTPN, PT.KPBN has also scheduled cooperation with private plantation farmers  and large private companies, realizing the role  of BUMN as a development agent. "Let us work together to revitalize this industry for the welfare of this nation together," Iriana concluded. [AF]