JAKARTA - PT BFI Finance Tbk (BFIN) provided IDR 10.3 trillion worth of financing in the first half of 2023, increasing 20.8% compared to the same period last year.

Sudjono, Director of Finance of BFI Finance said that 61% of the financing were used for working capital, another 22.6% for multi-purpose credits, 14.5% for investment, and 1.9% of sharia. “The company still maintains lower credit risk. Our net non-performing financing (NPF) ratio was at 0.79% in June 2023,” he said in the press release quoted Friday (28/7).

Meanwhile, its gross NPF was at 1.94%, a better position compared to the average gross NPF in the financing industry of 2.63% seen in May 2023. Furthermore, the NPF coverage reached 2.3.

Its return on assets (ROA) and return on equity (ROE) were at 8.7% and 18.6%, respectively. They are also above the average of the financing industry of 5.73% and 14.86%, respectively, as recorded in May 2023.

According to Sudjono, the financing portfolio of BFI Finance is dominated by refinancing, with a guarantee of 15 years.

It was revealed that the company managed to rake in IDR 848.4 billion of net profit and IDR 3.2 trillion of revenue, a 30.3% surge compared to the same period last year. “The revenue growth was triggered by an increase in financing distribution and a more competitive funding source,” Sudjono explained. (LK/ZH)