A total of 14 finance issuers ( multi ) posted a total net profit of Rp 959.42 billion or grew 47.27% year on year (yoy) until the first quarter of 2022. A number of these issuers also recorded asset growth of 4.19% year to date (ytd) to Rp 70.52 trillion.
With this achievement, the return on assets (ROA) as of March 2022 of 14 finance was recorded at 1.36 percent. This value is higher than the average ROA of the finance of 0.89%, with a net profit of Rp. 3.95 trillion and total assets of Rp. 443.56 trillion.
The 14 issuers are PT Adira Dinamika Multi Finance Tbk (ADMF), PT Buana Finance Tbk (BBLD), PT BFI Finance Indonesia Tbk (BFIN), PT Batavia Prosperindo Finance Tbk (BPFI), PT Clipan Finance Indonesia Tbk (CFIN), PT Danasupra Erapacific Tbk (DEFI), and PT Fuji Finance Indonesia Tbk (FUJI).
Then, PT Radana Bhaskara Finance Tbk (HDFA), PT Mandala Multifinance (MFIN), PT Pool Advista Finance Tbk (POLA), PT KDB Tifa Finance Tbk (TIFA), PT Trust Finance Indonesia (TRUS), PT Verena Multi Finance Tbk (VRNA). ), and PT Wahana Ottomitra Multiartha Tbk (WOMF).
Chairman of the Association of Indonesian Financing Companies (APPI) Suwandi Wiratno said that the presence of technology encourages finance current Multifinance was also able to record net profit growth even though the Covid-19 pandemic created various challenges in the industry.
Referring to the statistics of the Financial Services Authority (OJK), gearing ratio (GR) fell from 2.03% to 1.94%. Likewise, the depreciation of the multifinance from 83.00% to 79.27% in March 2022.
"GR is down, meaning that in the midst of a pandemic, finance companies can still make profits. Profits are also increasing because now many business operations use technology. So they ( multi ) don't have to go out of town and other business process costs can be reduced," he said. Kelvin to The Newbie Daily .
The biggest contributor to the net profit of 14 multifinance companies in the first quarter of 2022 was recorded by BFI Finance with a net profit of Rp 395.98 billion, or grew 72.51% (yoy). Meanwhile, total assets rose 4.59% (ytd) to Rp 16.35 trillion. BFIN's ROA was recorded at 2.42%.
BFI Finance's achievements are inseparable from the improvement in the value of restructured receivables and the rapid distribution of new financing. In addition, revenue grew by 18.54 percent to Rp 1.2 trillion, followed by a 3.6% decrease in total cost of funds.
"Higher public mobility as well as increased demand and consumption ahead of Ramadan also contributed to the Company's performance throughout the first quarter of yesterday," said Director of Finance and Corporate Secretary BFI Finance Sudjono.
Adira Finance followed with a net profit of Rp 304.57 billion, an increase of 44.27% (yoy). Meanwhile, total assets amounted to Rp 24.86 trillion, up 4.78% (ytd). So that the company's ROA is at the level of 1.22% per quarter I-2022.
In this case, ADMF recorded an increase in interest income, with a relatively decreased interest expense. From the business side, new financing ( booking ) increased by 32.5% with quality ( non-performing financing / NPF) still able to be maintained at 2.0%.
The next issuer is Mandala Finance with a net profit of Rp 161.87 billion or growing 55.06% (yoy) per quarter I-2022. In addition, total assets reached Rp 5.68 trillion, up 6.39% (ytd). So as of March 2022 at least MFIN ROA is 2.84%. Meanwhile, WOM Finance recorded a net profit of Rp 24.49 billion, up 0.57% (yoy). Total assets reached Rp 5.12 trillion, a slight decrease of 0.44% (ytd), bringing the WOMF ROA to 0.47%.
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Next, VRNA with a net profit of Rp 21.80 billion or doubled 115.37% (yoy). ROA rose to 0.93% because assets were relatively stagnant at Rp 2.32 trillion. The acquisition was followed by Batavia Finance or BPFI with a net profit of Rp 12.90 billion or grew 33.05% (yoy). With assets of Rp 1.30 trillion, the company's ROA was recorded at 0.98% in the first quarter of 2022.
KDB Tifa Finance followed with a net profit of Rp 12.88 billion or grew 70.66% (yoy). Assets of Rp 1.40 trillion or a slight increase of 0.35% (ytd) as of March 2022, bringing ROA to 0.91%. Furthermore, there is Buana Finance along with a net profit of Rp 9.06 billion per quarter I-2022, or an increase of 11 times compared to the same period last year. The company's total assets also rose 7.21% (ytd) to Rp 3.81 trillion, but ROA was recorded at only 0.23%.
Furthermore, Radana Finance with a net profit of Rp 8.90 billion, up 23.90% (yoy). HDFA recorded a 3.56% (ytd) increase in assets to Rp 1.32 trillion, resulting in an ROA of 0.67%. Meanwhile, Trust Finance's ROA reached 1.30% with a net profit of Rp 4.65 billion and assets of only Rp 355.52 billion in the first quarter of 2022.
Meanwhile, Pool Advista Finance recorded a net profit of Rp 586 million, or better than the same period last year which recorded a net loss of Rp 6.71 billion. The POLA coded issuer's assets rose slightly to Rp 257.22 billion, with an ROA of 0.22%.
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