July 2017, MPM Finance Reaches 62 Percent

INDUSTRY.co.id - Cikarang - PT Mitra Pinasthika Finance (MPM Finance) recorded financing as of July 2017, the financing realization has reached 62% of the target financing. The finance company is optimistic that the target of financing until the end of the year reached Rp4.9 trillion, up 22.5 percent from last year which only reached Rp 4 trillion.

MPM Finance Director Johny Kandano said the financing will be supported by retail and corporate financing. Retail still dominates after corporate financing is affected by the weakening of commodity prices.

"We are optimistic that the financing target in accordance with the planned target is reflected in the first semester of financing already 60%, much better than the target," he said in Cikarang, West Java, Monday (08/28/2017).

He explained retail financing, the largest portion of new car financing (passenger car) portion reaches 80% and the remaining used cars and motorcycles. New cars dominate with scattered brands as for the motor only sells Honda brand.

"The new car is optimistic to grow 5 -7% of the nation's national data from Gaikindo, there is an increase in new cars," he said.

While for commercial cars, such as financing trucks range 20-30%. In fact commercial financing is 70% because it was exploding commodities, when sluggish, the impact to commercial car financing.

"Very selective on commercial financing, because of the sluggish commodity atmosphere in Sumatra and Kalimantan. Although now it is starting to look palm oil.bagus," he said.

As of June 2017, MPM Finance recorded a 40% year on year (y.o.y) increase in new bookings driven by significant increases in four-wheel financing, as well as additional financing through syndicated loans to support portfolio growth. The company's profit also rose to Rp 48 Billion in addition to a healthy Non-Performing Loan (NPL) rate of 2.6%.