OJK Reveals Multifinance Financing Receipts In April 2024 Reaches IDR 486.35 Trillion

Chief Executive Of Financing Institutions, Ventura Capital Companies, Micro Financial Institutions And Other Financial Services Institutions OJK Agusman. (ANTARA)

JAKARTA - The Financial Services Authority (OJK) noted that in April 2024, multifinance company financing receivables grew 10.82 percent to IDR 486.35 trillion.

Chief Executive of the Supervision of Financing Institutions, Ventura Capital Companies, Micro Financial Institutions and Other Financial Services Institutions OJK Agusman said growth was supported by increased investment financing by 10.72 percent yoy.

"Re-financing debt grew by 10.82 percent yoy in April 2024 to Rp486.35 trillion, growth supported by investment financing which increased by 10.72 percent (yoy)," he said at a press conference on the results of the OJK Board of Commissioners Meeting in May 2024, Monday, June 10.

Agusman explained that the financing risk profile that was maintained, in which the Net Non Performing Financing (NPF) was recorded at 0.89 percent in April 2024, increased when compared to the previous month which reached 0.70 percent.

Agusman added that Gross Non Performing Financing (NPF) in April 2024 was 2.82 percent or an increase compared to the previous month which reached 2.45 percent.

The ratio of the financing company was recorded to increase, to 2.32 times in April 2024, while in March 2024 it was 2.30 times.

"However, it is still far below the maximum limit of 10 times," said Agusman.

In addition, the growth in venture capital financing in April 2024 contracted by 12.61 percent (yoy), with a financing value of IDR 16.32 trillion.