Bisnis.com, JAKARTA - A group of financial institutions belonging to the automotive issuer PT Astra International Tbk. (ASII) contributed up to 20 percent of the group's net profit during semester I/2022.

ASII President Director Djony Bunarto Tjondro explained that of the total net profit of all business lines of Rp. 14.46 trillion as of June 2022, the contribution of the financial services division reached Rp. 2.9 trillion and recorded a growth of 36 percent (year-on-year/yoy) from the same period. the previous year.

"The increase in net profit of the group's financial services division was mainly due to an increase in the contribution of the consumer finance business, where the value of consumer financing increased 18 percent [yoy] to Rp47.2 trillion," he said in an official statement, Thursday (28/7/2022). )

In detail, the net profit contribution from multi-finance specifically for four-wheel financing, namely PT Astra Sedaya Finance or Astra Credit Companies (ACC) and PT Toyota Astra Financial Services (TAF) recorded an increase of 47 percent to Rp827 billion.

The net profit contribution from PT Federal International Finance (FIF Group) was the largest, amounting to Rp 1.5 trillion. Profits from multi-finance companies that serve motorcycle loan products grew by 69 percent yoy compared to the first semester of 2021.

Next, two multi finance companies in the heavy equipment financing sector, PT Surya Artha Nusantara Finance (SAN Finance) and PT Komatsu Astra Finance (KAF), contributed a net profit of IDR 43 billion, also recorded an increase in profit of 54 percent yoy from semester I/2021.

"The increase in net profit of group companies that focus on heavy equipment financing, mainly due to the larger amount of financing [than last year], where the total financing disbursed increased 112 percent to Rp 5.7 trillion," he explained.

Meanwhile, ASII also saw that the insurance business line also recorded a slick performance improvement throughout the first semester of 2022. General insurance company PT Asuransi Astra Buana posted an increase in net profit of 6 percent yoy to Rp633 billion, due to higher underwriting income and investment returns.

Meanwhile, life insurance company PT Asuransi Jiwa Astra recorded an increase in gross premiums (gross written premium) of 3 percent yoy to Rp2.9 trillion.

For information, the financial services division under Astra Financial or PT Sedaya Multi Investama also has a P2P lending fintech business line PT Astra Welab Digital Arta (Maucash), Astra Pension Fund (DPA), venture capital PT Astra Mitra Ventura (Astra Ventura), and AstraPay digital wallet or PT Astra Digital Arta.