KONTAN.CO.ID - JAKARTA. Growth in multifinance financing receivables has continued to slow since the beginning of this year. According to the latest data from the Financial Services Authority (OJK) as of July 2025, multifinance financing receivables only grew 1.79% year-on-year (YoY) to IDR 502.95 trillion.

PT Adira Dinamika Multi Finance Tbk (Adira Finance) assesses that the slowdown in the multifinance industry's growth is caused by several interrelated factors.

Adira Finance's Finance Director, Sylvanus Gani, stated that one factor is the continued decline in motor vehicle sales, which are the main driver of financing.

"At the same time, global economic uncertainty and the public's purchasing power that has not yet fully recovered add to the challenge of new financing demand," he told Kontan on Tuesday (September 9, 2025).

Gani stated that these conditions are encouraging financing companies to be more selective and cautious in disbursing financing. This is done to maintain asset quality and control credit risk to prevent it from escalating.

With the automotive market still sluggish, Gani stated that the company will seek to capitalize on opportunities in non-automotive segments, particularly the multipurpose segment.

"The multipurpose segment has significant growth potential because it can meet various consumer needs," he said.

Gani hopes the multipurpose segment can be a catalyst for driving financing performance until the end of 2025 amidst a relatively sluggish automotive market. Adira Finance's financing receivables were recorded at IDR 54 trillion as of June 2025.

Meanwhile, Agusman, Chief Executive for Supervision of Financing Institutions, Venture Capital Companies, Microfinance Institutions, and Other Financial Services Institutions at the Financial Services Authority (OJK), stated that the main factor behind the slowdown in financing receivables in the financing industry is economic conditions.

"This limited growth is due, among other things, to various challenges and economic dynamics that impact the performance of financing companies," he said in the OJK RDK Answer Sheet on Sunday (September 7, 2025).

Despite the slowdown due to economic uncertainty, Agusman estimates that the financing industry will maintain positive growth until the end of 2025.