Bisnis.com, JAKARTA — Financing receivables in the multifinance industry continue to experience annual growth, albeit moderately. The Financial Services Authority (OJK) recorded that financing receivables reached IDR 514.09 trillion in March 2026, representing a 0.61% year-on-year (YoY) growth.

This growth was also reflected in PT Mandiri Utama Finance (MUF), one of the financing companies. In the first quarter of 2026, MUF recorded managed financing receivables growing 15.8% year-on-year and total assets growing 26.6% year-on-year.

"Meanwhile, portfolio quality remains well maintained, with a Non-Performing Loan (NPF) ratio of 1.37%, reflecting growth supported by selective expansion and prudent risk management, far better than the industry average," said Mandiri Utama Finance Director Dapot Parasian S. Sinaga to Bisnis, quoted on Tuesday (May 12, 2026).

He continued that over the past year, MUF's receivables growth has been primarily supported by financing for the new car segment, which makes up the majority of the portfolio.

Dapot further explained that with the growth recorded by the Financial Services Authority (OJK), MUF views the growth in receivables in the industry as a sign of resilience amidst economic challenges.

"MUF views the 2026 outlook as remaining positive, in line with solid business performance growth supported by Bank Mandiri and BSI, both in terms of funding through joint financing and order sourcing through the captive market," he said.

Going forward, Dapot added, MUF estimates that financing receivables growth will continue, with a focus on the automotive segment, while maintaining selective financing to maintain asset quality.

A similar trend occurred at PT Clipan Finance Indonesia Tbk (CFIN), whose financing receivables increased by around 0.73% year-on-year in March 2026.

Clipan Finance Indonesia President Director Harjanto Tjitohardjojo said this indicated gradual growth at the beginning of the year.

"This growth was driven by several key factors, including the improving demand for financing, particularly in the multipurpose segment, as well as the company's strategy to optimize its financing portfolio and maintain asset quality," he explained to Bisnis.com.

Harjanto stated that the growth in financing receivables across the industry in early 2026 reflects signs of recovery beginning to form in the industry, although it remains gradual and uneven.

"This condition indicates that financing demand is improving, but has not yet fully recovered. Therefore, companies must continue to monitor future developments with a prudent approach while capitalizing on existing growth opportunities," he concluded.