The revival of the Indonesian economy after the pandemic has resulted in PT Federal International Finance (FIF) posting positive performance growth in the January-September 2023 period.
President Director of PT FIF, Margono Tanuwijaya, during a conversation with journalists, Tuesday evening, 7 November 2023, stated that the company’s net profit in the third quarter of 2023 increased by 30.9 percent to IDR 3 trillion compared to the same period in 2022 which reached IDR 2. 3 trillion.
The revival of the Indonesian economy after the pandemic has resulted in PT Federal International Finance (FIF) posting positive performance growth in the January-September 2023 period.
President Director of PT FIF, Margono Tanuwijaya, during a conversation with journalists, Tuesday evening, 7 November 2023, stated that the company’s net profit in the third quarter of 2023 increased by 30.9 percent to IDR 3 trillion compared to the same period in 2022 which reached IDR 2. 3 trillion.
“The first growth was from motorbikes. Because we know that Honda’s sales are experiencing problems. This year at Honda, in terms of distribution, the supply of all kinds has been much better. “That is one of the drivers of growth, because the credit disbursed is higher,” said Margono Tanuwijaya.
“Second, financing used motorbikes is multi-purpose. It is also experiencing growth. Because we see that in 2022 there will still be a Covid situation, so people don’t need multi-purpose loans yet. “As a result of Covid being over, they are starting to try to make multi-purpose loans,” he continued.
Margono Tanuwijaya stated that Amitra’s Umrah Hajj is now starting to become active. Now FIF has made quite a profit from the Hajj and Umrah programs. Then there is one more thing that makes FIF grow from MSME financing, namely FINATRA.
“We will start to enter into financing in April 2022, this year the growth is quite good. So this answers the FIF expansion strategy that we have been carrying out since last year for micro financing. “That’s what drives growth at FIF,” explained Margono.
Until now, the highest financing is still from automotive, namely financing for Honda motorbikes reaching 62 percent. Margono Tanuwijaya explained that the positive performance growth in the third quarter of 2023 was supported by the performance of more than 13 thousand employees spread across 2,000 company networks.
“In terms of value, FIF recorded financing distribution of IDR 31.8 trillion until the third quarter of 2023 with year-on-year growth of 28.1 percent. “Positive growth can also be seen in units financed by FIF which reached 2.4 million units or an increase of 19.9 percent year-on-year,” he said.
Until the third quarter of 2023, FIFASTRA also contributed to the distribution of financing value of IDR 20.3 trillion, an increase of 36.1 percent compared to the same period in 2022 of IDR 14.9 trillion.
In terms of unit bookings, FIFASTRA recorded distribution of financing to 1.2 million units in the third quarter of 2023 with an increase of 38.5 percent compared to the same period in the previous year with the number of units financed being 871 thousand units.
Source: Tempo.co
