JAKARTA. PT BRI Finance Indonesia (BRI Finance), one of subsidiaries of PT Bank Rakyat Indonesia (Persero) Tbk (BBRI), has targeted new financing in 2024 to grow over 20%.

Said target aligns with the growth of new credit distributed by BRI Finance in 2023, which reached 23.5% year-on-year (yoy). Said growth rate allows BRI Finance’s total assets hit over IDR 9 trillion in 2023.

Willy Halim Sugiardi, Director of Operation of BRI Finance, mentioned that with this new financing target, the company is confident that its total assets will arrive at over IDR 10 trillion in 2024. “Looking back at our performance in 2023, we believe 2024 will be much better,” he added in the information disclosure.

Sugiardi further added that the focus segment that will be captured by BRI Finance to attain this new financing target is used-car financing and funding facility. “We will continue to maintain our focus strategy in consumer financing as the main catalyst of this target attainment,” he said.

In the meantime, BRI Finance’s capital for this year will come from various sources, starting from bank loans and fund-raising in the capital market. The portion of both sources will be adjusted according to the market condition and interest rate trend. (KR/ZH)