OJK Records Financing Receipts Reaches IDR 475.58 Trillion In January 2024

Illustration (Photo: Doc. ANTARA)

JAKARTA - The Financial Services Authority (OJK) noted that the value of multifinance company financing receivables grew 13.07 percent on an annual basis or year on year (yoy) to Rp475.58 trillion in January 2024 when compared to January 2023 of Rp420.60 trillion.

Chief Executive of the Supervision of Financing Institutions, Ventura Capital Companies, Micro Financial Institutions and Other Financial Services Institutions OJK Agusman said the value of financing receivables in January 2024 grew 13.07 percent (yoy) to Rp475.58 trillion.

Meanwhile, the value of financing receivables in December 2023 grew by 13.23 percent to Rp470.86 trillion.

"The risk profile is also maintained, of which Net's Non Performing Financing (NPF) was recorded at 0.69 percent in January 2024 and in December 2023 it was 0.64 percent," he said at the February 2024 RDK Press Conference, virtually, Monday, March 4, 2024.

Agusman added that the NPF Gross finance company in January was 2.50 percent. This figure is an increase compared to the previous month which reached 2.44 percent.

Meanwhile, the gearing ratio of financing companies was recorded in the good category, which was 2.24 times in January 2024, while December 2023 was 2.26 times. This figure is far below the maximum limit of 10 times.

Agusman said that in the future OJK as the regulator will launch a roadmap for the 2024 '2028 financing company.

"It is to create a financial company that is healthy, strong, with integrity, and adaptive to technological developments, and contributes to sustainable economic growth," he concluded.