Jamkrindo Records Net Profit Up 20.09 Percent Raup Rp1.28 Trillion In 2022

JAKARTA - PT. Indonesian Credit Guarantee (Jamkrindo) posted positive business growth in 2022 with a net profit of IDR 1.28 trillion. This amount increased by 20.09 percent from the previous year which was IDR 1.07 trillion.

President Director of Jamkrindo Hendro Padmono in a press release from the company in Jakarta, Thursday, said the increase in net profit was boosted by the increase in Jamkrindo's guarantee volume.

As the pioneer of credit guarantees in Indonesia, Jamkrindo managed to record a guarantee volume of IDR 312.36 trillion, an increase of 26.19 percent, with 10.8 million MSMEs guaranteed to employ 35.1 million workers in its business operations.

In the midst of the challenges of economic uncertainty, he said, Jamkrindo managed to navigate the company's financial performance with prudent risk management.

The company's guarantee service return increased by 29.34 percent to Rp5.64 trillion from the previous year's Rp4.36 trillion, with the claim expense in 2022 recorded at Rp3.24 trillion, an increase of 27.11 percent from the previous year. As for the financial side, Jamkrindo's assets were recorded at Rp28.01 trillion with equity of Rp12.82 trillion.

Hendro added that Jamkrindo's positive performance was also inseparable from improving macroeconomic conditions, as well as various support for the government's strategic policies and regulators in maintaining economic stability.

"The extraordinary support from all stakeholders provides optimism and confidence for us to produce the best performance," he said.

In 2022, he revealed that Jamkrindo again increased claim reserves by 232 percent of the total claims in the year-to-date process in March 2023.

This increase in claim reserves is the company's strategy to mitigate risks and maintain company performance the following year.

"The establishment of strong claim reserves is part of the company's commitment to maintaining service excellence in payment of claims to business partners in a fixed time and precise amount, so that the company's trust and reputation are always maintained properly by managing measurable, healthy, and controlled business risks," said Hendro.

Armed with good performance in 2022, Hendro is optimistic that Jamkrindo can realize the target in 2023. In 2023, Jamkrindo targets to obtain a guarantee volume of IDR 340.26 trillion.

"Various strategies have been prepared, among others, to innovate in terms of technology and digitization of services such as the implementation of the JOS or Jamkrindo Online Suretyship application to support business strengthening non-program processes, accelerating business models, implementing robust risk management to preparing future talents," said Hendro.

In addition, in order to support the sustainable development goals or SDG's, Jamkrindo also carries out social and environmental responsibility programs (TJSL) which are implemented evenly in various regions in Indonesia.

The program is packaged to help realize economic equality and improve people's welfare.

Jamkrindo is a credit guarantee company that is a member of the Indonesia Financial Group (IFG) holding company. Jamkrindo has various products, both program guarantee products and non-program guarantees.