BFI Finance Targets Financing Up To IDR 21 Trillion At The End Of 2023

Illustration of the Rupiah (Photo: Doc. Antara)

JAKARTA - PT BFI Finance Indonesia Tbk (BFIN) targets the company's new financing to reach IDR 20 trillion to IDR 21 trillion by the end of 2023.

Finance Director of PT BFI Finance Indonesia Tbk (BFIN) Sudjono said, until the first semester of 2023, the company's new financing was recorded at IDR 10.3 trillion, an increase of 20.8 percent year on year (yoy) compared to the same period in 2022.

Sudjono, after media gathering in Jakarta, Thursday, said that in the third quarter of 2023, the company's performance tends to be low (flat), one of which is due to cyber attacks that had occurred on the company's information technology (IT) network.

"It's a bit more or less flat. Because we got a little problem at the end of the first semester of 2023 and got hit by a cyber attack. It affected a little bit, we had to brake a little. But, in the fourth quarter of 2023, it will return to normal. Meanwhile, we are still cleaning up, so when we fix, we don't dare to be aggressive first," he quoted Antara as saying.

Regarding the financing strategy, he said the company will remain focused on correct valuations, correct consumer targets, and correct credit processes.

According to him, the main focus of the company's financing remains on used vehicles and heavy equipment, along with the increase in performance in the segment this year.

"This year, growth in heavy equipment is tighter than retail. Heavy equipment grew around 40 percent this year in terms of financing distribution, while retail was lower," said Sudjono.

BFI maintains relatively low credit risk, with the level of non-performing financing (NPF) net maintained at 0.79 percent during the first semester of 2023.

During this period, the company's net profit was recorded at IDR 848.4 billion, with a total revenue of IDR 3.2 trillion, an increase of 30.3 percent (yoy) compared to the same period the previous year.