BFI Finance Tbk (BFIN), a consumer financing company with the biggest market capitalisation, reported new distributed financing of IDR 14.2 trillion until September (9M) 2024.
The amount of new financing disbursed in Q3 2024 by BFIN actually grew 19.1% quarter-to-quarter (qoq) from the amount recorded until Q2 2024.
Meanwhile, BFIN’s managed receivables until September 2024 were recorded at IDR 24.1 trillion, 5% year-on-year (yoy) higher from 9M 2023.
The financing set up for productive sectors, including working capital credits and investment credits, contributed IDR 17.9 trillion to total financing distributed by BFIN in 9M 2024, representing 77.8% of it. The remaining assets are allocated to consumptive or multipurpose financing.
Improvement in BFIN’s financing distribution was thankfully followed by well-maintained credit quality, with gross non-performing financing (NPF) at 1.42% and net NPF at 0.27%.
“The company also maintains a very healthy gearing ratio, that is 1.1, much lower than the industry average of 2.3. This helped maintaining BFIN’s stability amidst various market conditions and highly dynamic liquidity,” added Sudjono, Director of Finance of BFIN, in the official statement.
Furthermore, in terms of profitability, BFIN triumphed with net profit of IDR 1.1 trillion in 9M 2024, supported by its revenue that reached IDR 4.7 trillion in this period. (KR/ZH)