KONTAN.CO.ID - JAKARTA. PT Buana Finance Tbk (BBLD) recorded solid financial performance throughout 2024.

The company posted total revenue of IDR 874.93 billion, growing 20.55% compared to the previous year's achievement.

Buana Finance Marketing Director Herman Lesmana, said that this growth was supported by the company's strategy in maintaining financing quality, service efficiency, and focusing on potential sectors.

"If we look at 2024, there are several factors that affect the company's performance. One of them is pressure from the global and domestic economy which is quite strong, plus fluctuations in commodity prices and a decrease in people's purchasing power," said Herman in the Public Expose of Buana Finance's GMS, Monday (19/5).

Herman explained that price volatility in commodity-based sectors such as coal, nickel, and palm oil also had an impact on the cash flow of business actors. In addition, the slowdown in the automotive market also put pressure on financing distribution.

However, the Company continues to prioritize the principle of prudence.

The Non-Performing Financing (NPF) ratio increased to 1.97% throughout 2024, from 0.74% in the previous year.

Although it increased, this figure is still below the national financing industry average.

Amid external pressures and increasing risks, Buana Finance managed to maintain profitability. The company posted a net profit for the current year of IDR 66.07 billion in 2024.

"We continue to mitigate risks and maintain asset quality. We also prioritize improving services through strengthening technology and digitalization to be more responsive to the needs of partners and customers," said Herman.