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Bank Raya gains recognition from government for auctioning off largest lot
Bank Raya recently received an award for the largest auctioned lot in the work area of South Sumatra by the National Directorate General of State Assets Management (DJKN).
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Bank Raya auctions a palm oil plantation in Palembang, South Sumatra, to accelerate its business transformation to a digital bank.
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ank Raya recently received an award for the largest auctioned lot in the work area of South Sumatra by the National Directorate General of State Assets Management (DJKN) and the Palembang Office of the State Property Service and Auctions (KPKNL) at the 2023 Auction Awards.
It was revealed that credit recovery is one of Bank Raya’s strategic steps to achieve an accelerated business transformation toward digital as the country’s self-proclaimed House of Fintech and Home for Gig Economy. This is also In line with Bank Raya's business strategy, namely to maintain asset quality and recovery income, the financial institution is strengthening its foundation for the transformation process to become a digital bank.
"We are aware that the credit recovery process is not easy, but when Bank Raya received an award from the Palembang State Asset Management and Auction Services Office [KPKNL], South Sumatra, the success encouraged Bank Raya to continue accelerating recovery in 2023 in accordance with set targets. To encourage recovery, Bank Raya will intensify communication with the KPKNL, especially for auctions. As of September 2022, Bank Raya recorded income from recovery of US$27 million [Rp 418 billion], an increase of 20 times from the previous year,” said Dedy Hendrianto, director of Retail Agri and Funding at Bank Raya.
The DJKN of the Finance Ministry is capable of managing state property, government investment, state debt and receivables assisted by the KPKNL, which is directly responsible to the head of the regional office.
As reported by the DJKN of the Finance Ministry, Bank Raya has the largest auction principal value in the banking sector throughout 2022 via the KPKNL in Palembang. Joko Prihanto, DJKN auction director, reported that the company was auctioning off a palm oil plantation, located in Palembang, worth an estimated US$25 million.
"By accelerating the recovery of legacy business credit, it really supports the transformation of Bank Raya's business as a digital bank and in the future Bank Raya will focus on distributing digital credit, of course still paying attention to the principle of prudence,” Dedy concluded.
Moreover, Bank Raya also revealed that PT Bersama Zatta Jaya Tbk (ZATA) paid off a debt of more than US$1,446.80. As previously reported, ZATA used its IPO funds to pay off its debt to Bank Raya in full, therefore the commitment was fulfilled in accordance with applicable regulations.
