KONTAN.CO.ID - JAKARTA. PT BFI Finance Indonesia Tbk or BFI Finance (BFIN) posted positive performance until the first semester or semester I of 2023.

BFI Finance Finance Director Sudjono said BFIN recorded a profit of IDR 848.4 billion in the first half of 2022, up 2.35% compared to the same period last year.

Meanwhile, BFIN's revenue was recorded at IDR 3.2 trillion, an increase of 30.3% year on year (YoY).

"This revenue growth was influenced by increased financing and more competitive funding sources," said Sudjono through an official statement, Wednesday (26/7).

Sudjono said, until the first semester of 2023, BFIN's total assets grew 38.8% YoY to IDR 25.2 trillion. This is in line with the increase in net receivables (net receivables) by 31.8% yoy with a value of IDR 21 trillion.

"It can be said that asset growth, profitability and other financial ratios are well maintained on an annual basis," he said.

Sudjono added, BFIN recorded a new financing value of IDR 10.3 trillion in the first half of 2023, or an increase of 20.8% compared to the same period last year. Of this value, 61% is used for working capital financing, followed by multipurpose of 22.6%, investment of 14.5%, and sharia 1.9%.

In terms of ratios, BFIN's net Non Performing Financing (NPF) was recorded at the level of 0.79% as of June 2023, while the gross NPF was at the level of 1.94%. Meanwhile, Return on Assets (RoA) and Return on Equity (RoE) were 8.7% and 18.6%, respectively.

Meanwhile, the total acquisition of BFIN financing in the first half of 2023 was valued at IDR 22.4 trillion, consisting of 56.5% financing for four-wheeled vehicles, used and new four-wheeled vehicles 9.0% and 2.9% respectively.

Then, financing for two-wheeled vehicles is 10.9%, financing for house/shop certificates is 3.9% and sharia-based financing is 3.3%.

Sudjono added, BFI Finance's biggest sources of financing came from bank loans in rupiah and debt securities (bonds). During semester I-2023, BFIN has issued Rupiah Bonds three times with a total emission value of IDR 3.8 trillion.

"We remain optimistic that we will achieve growth according to the target by the end of the year while maintaining good management and prudential principles," he added.