JAKARTA – PT BFI Finance Indonesia Tbk (BFIN) reported a 4.87% year-on-year (yoy) decline in net profit, reaching IDR 1.6 trillion in the 2024 financial year.

This decline is in line with BFIN’s revenue performance, which slowed by 0.31% yoy, reaching IDR 6.33 trillion in 2024. Despite this, the company still recorded a 9.6% yoy growth in financing receivables, amounting to IDR 24.1 trillion.

Sutadi, President Director of BFIN, stated that the drop in net profit was influenced by weakened consumer purchasing power. Additionally, Sutadi mentioned that the volatility of commodity prices also impacted the financing sector.

"BFIN continues to innovate in business strategy by strengthening acquisition channels and strategic collaborations," he said in an official statement on Tuesday (25/2).

In terms of profitability, BFIN recorded a Return on Assets (ROA) of 8.0% and a Return on Equity (ROE) of 15.7% in 2024.

Amid economic pressures, the company also managed to maintain a gross non-performing financing (NPF) ratio at 1.25% and a net NPF ratio at 0.21%, lower than the industry average of 2.70%.

In addition to maintaining credit quality, BFIN is also striving to expand its digital services to improve financing efficiency and accessibility. This move aligns with the company's strategy to stay competitive in the digitalisation of the financial industry.

"We will continue to provide more customer-centric financial solutions that meet the needs of the dynamic market," he said. (DK/KR/ZH)