Jamkrindo Targets 13 Percent Growing Guarantee Volume In 2024

JAKARTA - PT. Indonesian Credit Guarantee (Jamkrindo), a member of the Indonesian Financial Group (IFG) BUMN holding company, targets the guarantee volume to grow by around 13 percent in 2024 as determined by shareholders.

According to Alia, the company also sees that this year's conditions can still grow better than the previous year.

"Our target this year is to knock on the hammer. So it has been determined by shareholders. We will continue to grow. The growth of our guarantee is expected to grow by around 13 percent," said Jamkrindo Finance and Investment Director Alia Nur Fitri in Jakarta, quoted from Antara, Wednesday, February 21.

Jamkrindo noted that the guarantee volume in November 2023 reached IDR 338.81 trillion. This amount consists of guarantees for people's business loans (KUR) of IDR 122.36 trillion and non-KUR of IDR 216.45 trillion. The number of MSMEs guaranteed is 9.27 million MSMEs as of November 2023.

Alia is optimistic that the company's profit throughout 2023 will reach the previously set target of IDR 1.3 trillion. According to him, the full report on the 2023 financial performance that has been audited will be issued at the end of the first quarter of 2024.

Based on Jamkrindo's 2022 financial report, the guarantee company recorded a guarantee volume of IDR 312.36 trillion, an increase of 26.19 percent throughout 2022. In the same period, Jamkrindo posted a net profit of IDR 1.28 trillion, an increase of 20.09 percent from the previous year which amounted to IDR 1.07 trillion.

Jamkrindo is one of the companies assigned by the government to carry out KUR guarantees for small, micro and medium enterprises (MSMEs). In addition to guaranteeing government programs, Jamkrindo also has non-program guarantee products, including in the productive and consumptive fields.

Alia said, this year Jamkrindo is increasing the portion of the government's non-program business. He is also optimistic that business outside of government assignments will also continue to grow.

"Indeed, in that assignment, we follow the target of the government. So we only follow what has been determined by the government regarding the assignment of this guarantee. However, for non-assuming, we also continue to grow," said Alia.