KONTAN.CO.ID - JAKARTA. Financing quality in the multifinance industry remained relatively stable through mid-2026. Although the non-performing financing ratio increased on a year-on-year basis, a number of financing companies managed to keep their NPF and NPL ratios in check throughout the period.

The Financial Services Authority (OJK) recorded the multifinance industry's gross non-performing financing (NPF) ratio at 3.01% in June 2026.

This figure represents a slight decline compared to May 2026, when it stood at 3.06%. However, on a year-on-year basis, the industry's gross NPF ratio rose from the 2.55% level recorded in June 2025.

Despite the year-on-year increase in the industry's NPF ratio, several multifinance players managed to maintain their financing quality through the first half of 2026.

One such company is PT Mandiri Utama Finance (MUF), which recorded an improvement in its non-performing loan (NPL) ratio during the first half of 2026. MUF Acting President Director Dapot Parasian S. Sinaga stated that the company's NPL ratio stood at 1.36% in June 2026. This figure represents an improvement over the 1.39% recorded in June 2025.

"This reflects MUF's maintained asset quality and risk management," he told Kontan on Thursday (August 13, 2026).

In addition to MUF, PT CIMB Niaga Auto Finance (CNAF) also maintained a stable NPF ratio of 1.96% through June 2026.

CNAF President Director Ristiawan Suherman noted that this ratio remains well below the regulator's safety threshold of 5%. This situation highlights the importance of discipline among financing companies in preserving asset quality while simultaneously striving for business growth. According to Ristiawan, financing quality is a crucial factor in ensuring that a financing company's expansion proceeds in a healthy and sustainable manner.

In line with MUF and CNAF, PT BRI Multifinance Indonesia (BRI Finance) has also recorded an improvement in financing quality. BRI Finance's Non-Performing Financing (NPF) ratio fell by 29 basis points (bps) year-on-year to 1.82% in July 2026.

BRI Finance Corporate Secretary Aditia Fakhri Ramadhani emphasized that the maintained financing quality reflects robust risk management, selective financing disbursement, and continuous monitoring of asset quality.

**Divergent Multifinance Risk Profiles**

In the multifinance industry, each financing segment possesses distinct characteristics and risk profiles. Consequently, risk management strategies must be tailored to the specific characteristics of each segment.

Ristiawan noted that the "fund facility" or refinancing segment generally carries a potentially higher risk profile. This is because the segment's performance is heavily influenced by economic conditions and public purchasing power.

To safeguard financing quality, multifinance companies employ prudent portfolio management principles. These measures aim to strike a balance between financing growth and credit risk.

Furthermore, companies are strengthening their underwriting processes—specifically the assessment of prospective borrowers' creditworthiness—prior to disbursing funds. Careful collection strategies are also implemented to preserve portfolio quality and anticipate potential problem loans.

Through these measures, financing companies strive to identify risks early on while keeping NPF and NPL ratios at manageable levels.

This is vital for the multifinance industry, particularly as it seeks to sustain financing growth amidst challenges regarding public purchasing power and shifting economic conditions.