KONTAN.CO.ID - JAKARTA. Although the performance is still depressed, the multi-finance industry can pocket bigger profits than last year. This is in line with the efficiency carried out by the company and the improvement in industrial business. Data from the Financial Services Authority (OJK) shows that the finance industry's profit increased 20.90% to Rp 3.99 trillion in April 2021. In fact, in the previous month, the finance industry's profit had dropped 23.64% to Rp 3.23 trillion. This can be seen from the performance of multi-finance companies that recorded a decline in profits in the first quarter of 2021, such as Buana Finance, BFI Finance and Adira Finance. Even so, they have prepared strategic steps to improve the company's performance. Just look, Buana Finance, experienced a 91.56% decline in profit to Rp 1 billion in the first quarter of 2021. Despite the decline, the company remains optimistic that it can achieve a higher profit of 37.50 billion by the end of 2021, or an increase of 86.98% yoy. In order to achieve this target, the company has implemented efficiencies including reducing the number of employees which has been started since 2020. Then get loan relief from creditors so that they can reduce the cost of funds. In addition, Buana Finance will enlarge its new car financing portfolio in line with increased vehicle sales for the automotive industry after the government extended the Luxury Goods Sales Tax (PPnBM) discount of up to 100%. "We will seek competitive funding to increase the volume of new vehicle financing with our partners who have been developed," said Director of Buana Finance Herman Lesmana, last week. Through this strategy, the company believes it can disburse financing of Rp 1.8 trillion in 2021. This number is up 52.21% compared to the achievement in 2020, which consists of Rp 1.3 trillion in consumer financing and Rp 500 billion in finance leases. Meanwhile, BFI Finance also boosted performance in the second quarter of 2021 by managing risks carefully so that performance is maintained. One of them is the increase in the company's profit, which had slowed from Rp 327.85 billion to Rp 229.53 billion in the first quarter.