Astra Financial Targets Net Profit Growth Of Up To 15 Percent In 2023

JAKARTA - PT Sedaya Multi Investama or Astra Financial targets net profit growth of around 10 percent to 15 percent on an annual basis in 2023.

Overall, we see that 2023 will be positive. The economic driving factor is also quite good, although if we look at the current price of several commodities has decreased, but overall we see that it is still positive," said Director of PT Sedaya Multi Investama or Astra Financial Handoko Liem in Bincang-Bincang Astra Financial in Jakarta, quoted from Antara, Wednesday, March 8.

In 2022, Astra Finansial as the finance division of PT Astra Internasional Tbk (Astra) posted a 22 percent increase in profit compared to the previous year to IDR 6 trillion.

As of the end of 2022, Astra Financial has assets of IDR 166 trillion with 910 networks supported by 34,000 employees throughout Indonesia, and serves more than 25 million consumers.

"The increase in performance is in line with the economic recovery of the community after the COVID-19 pandemic and the growth of the retail sector, especially in the consumer financing business," he said.

Consumer financing companies, heavy equipment financing, as well as general insurance services and life insurance from Astra Financial to business units that have increased significant performance in 2022.

The contribution of consumer financing companies under Astra Financial, namely FIF Group, Astra Kredit Companies (ACC), and TAF (Toyota Astra Financial Services) increased by 21 percent to Rp101.7 trillion.

The contribution of net profit from heavy equipment financing companies, namely PT Komatsu Astra Finance (KAF) and PT Surya Arta Nusantara Finance (SANF) to Astra Finansial also increased 37 percent to Rp102 billion.

Meanwhile, the Group's general insurance company recorded a 12 percent increase in net profit to IDR 1.2 trillion, mainly due to underwriting income and higher investment returns.

Life insurance companies recorded an increase in premium premiums by 5 percent to Rp6.0 trillion, he said.