KONTAN.CO.ID - JAKARTA. The Financial Services Authority (OJK) noted that the total financing receivables managed by multifinance companies reached IDR 494.1 trillion in July 2024.

The Chief Executive for Supervision of Financing Institutions, Venture Capital Companies, Microfinance Institutions, and Other Financial Services Institutions, Agusman, revealed that financing receivables in that month experienced annual growth (YoY) of 10.53%.

Despite the growth, Agusman explained that this increase indicated a slowdown compared to the previous month. In June 2024, financing receivables grew by 10.72% YoY with a value of IDR 492.17 trillion.

Financing Risk Profile Remains Maintained

In his presentation at a press conference held on Friday, August 6, 2024, Agusman also highlighted that although receivables growth slowed, the financing risk profile generally remained under control.

The Net Non-Performing Financing (NPF) indicator was recorded at 0.84% ​​in July 2024, slightly down from 0.87% in the previous month.

Furthermore, Agusman revealed that the Gross NPF of financing companies was at 2.75% in July 2024. This figure also experienced a slight decrease compared to the previous month which reached 2.80%.

Multifinance Company Gearing Ratio Experiences a Decline
In addition, the gearing ratio of multifinance companies was recorded to have decreased to 2.40 times in July 2024, compared to 2.44 times in June 2024.

Agusman ensured that this ratio was still far below the maximum limit set, which was 10 times.