Buana Finance AGMS Decides To Distribute Dividends

Illustration. (Photo: Doc. Antara)

JAKARTA - PT Buana Finance Tbk (BBLD) achieved a positive performance in 2023. The Company has held an Annual General Meeting of Shareholders (AGMS) for the 2023 financial year on Monday, May 20 with several decision results.

Based on the results of this AGMS, it has also been approved, including determining the use of the company's net profit for the 2023 financial year, namely the dividend distribution plan.

"Based on the results of the company's AGMS, it is also determined that it will distribute dividends for shareholders," said Buana Finance's management in a written statement.

In general, the company's performance in 2023 has increased when compared to 2022. The company's total assets throughout 2023 were recorded at IDR 5.79 trillion.

This amount grew by 25.04 percent or equivalent to IDR 1.16 trillion on an annual basis compared to 2022 which was recorded at IDR 4.63 trillion.

Total asset growth was mainly due to an increase in net financing receivables by 32.93 percent from the previous Rp3.96 trillion to Rp5.26 trillion.

Meanwhile, the company's revenue was recorded at IDR 725.78 billion in 2023, this achievement increased by 20.99 percent compared to 2022 of IDR 599.88 billion.

Buana Finance also managed to record a net profit for the current year of IDR 105.01 billion, an increase of 20.07 percent from the 2022 achievement of IDR 87.46 billion.

This increase is generally supported by an increase in the company's total revenue. In line with this, the rate of return on capital (ROE) from the company's net profit in 2023 also increased to 7.75 percent, compared to 6.83 percent in 2022.

The company managed to maintain the quality of receivables quite well, where the level of non-performing financing in 2023 was recorded at 0.74 percent. This value is slightly higher than the position in 2022 which was 0.67 percent, but still maintained below the NPF level of the financing industry.

The level of problematic receivables is measured from the ratio between the amount of receivables to the facility that has matured above 90 days, which is recorded at IDR 39.07 billion, compared to the total amount of receivables.