KONTAN.CO.ID - JAKARTA. PT CIMB Niaga Auto Finance (CNAF) recorded an increase in profit in the first quarter of 2025.

CNAF President Director Ristiawan Suherman said that in the first quarter of 2025, CNAF recorded a profit before tax of IDR 173.57 billion.

"That value grew 62%, compared to the same period the previous year which was IDR 106.88 billion," he told Kontan, Tuesday (29/4).

Ristiawan explained that the growth was supported by an increase in new financing distribution.

He said that CNAF's new financing distribution was IDR 2.97 in the first quarter of 2025. That value increased 22%, compared to the same period the previous year which was IDR 2.44 trillion.

Furthermore, Ristiawan said that CNAF is optimistic that it can achieve a profit before tax throughout 2025 of IDR 550 billion.

To achieve the target, he said his party would implement a number of strategies. One of them is increasing the company's assets and reducing the company's operational costs by prioritizing digitalization in business processes.

In addition, CNAF is also trying to maintain the cost of credit, namely by implementing the principle of prudence, as well as implementing a scoring system in determining and ensuring the quality of approved customers.

However, Ristiawan did not deny that there were several challenges that were considered to affect the company's performance this year. He said one of them was the current unstable macroeconomic conditions, which also decreased people's purchasing power.

"Plus the interest rate which still tends to be high is one of the challenges in all business sectors, including the financing and automotive industries," said Ristiawan.