As a reminder, the Covid-19 pandemic had made it difficult for multi-finance players to get capital injections from bank loans in mid 2020-2021, due to the tendency of banks to be more selective in distributing their liquidity.
The injection of funds from banks for the financing industry ( multi /leasing ) is more evenly distributed, aka starting to enter players with small and independent assets.
Chairman of the Association of Indonesian Financing Companies (APPI) Suwandi Wiratno revealed that this trend began to be seen since the beginning of the year, along with data on the nominal growth of funding received by players from domestic banks.
"In general, the financing of the multi-finance industry is getting better, both in terms of quantity and quality. So it is natural that the trend of funding from domestic banks is increasing. Hopefully, this year funding will be more evenly distributed, it will be easier for all players to get loans. But of course back to the bank's assessment of one by one player," he told The Newbie, Thursday (26/5/2022).
Based on multi-finance industry data the Financial Services Authority (OJK) as of the first quarter of 2022, the total amount of funding received by the industry worth Rp from . However, specifically for funding from domestic banks with a portion of Rp. 137.79 trillion, the value increased 9.6 percent (yoy) from last year.
For information, the Covid-19 pandemic had made it difficult for multi-finance players to get capital injections from bank loans in mid 2020-2021, due to the tendency of banks to be more selective in distributing their liquidity.
This trend is especially felt finance companies that still have mini and independent assets, aka not a subsidiary of the bank itself or part of a dealer entity or brand holder agent (APM).
Kelvin sees domestic bank loans increasing gradually, reflecting the bank's confidence in the prospects for the finance this year. Moreover, the pandemic has automatically brought about natural selection for the players.
As an illustration, the number of multi-finance companies at the beginning of the pandemic reached 182 players, divided into 32 APM-affiliated players, 34 banking-affiliated players, and 116 independent players. Currently, there are only 158 players left, consisting of 27 APM-affiliated players, 31 banking-affiliated players, and 100 independent players.
"There are players who have given up, some have been forced to resign because they cannot comply with the regulations, some have merged to make them stronger. This means that the quality of the remaining players is getting better, and they are guaranteed to be safe because all of them have joined the SLIK [OJK Financial Information Service System]. In addition, bank confidence is also driven by competitive interest rates, as well as the prospect of industrial financing that continues to improve," he concluded.
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