As Upstream Economy Rises, BFI Finance of Sumatra Region is Optimistic to Close 2021 and Welcome 2022 with Excellent Performance

2021-12-03 00:00:00 5453

Medan, December 3, 2021 – Indonesia’s economic growth in the third quarter of 2021 has reportedly grown in a positive trend and continued to record improvement in various sectors. This was commensurate with the government’s responses and measures to control a surge in COVID-19 cases through vaccination programs in various areas and managing community mobility. Statistics Indonesia (BPS) reported that national economy grew by 3.51% year-on-year (yoy) or 1.55% quarter-on-quarter (qoq) as a continuance of positive growth previously in the second quarter of 2021.   

Acceleration of realization of budget refocusing in the National Economic Recovery program, which was achieved by adjusting to the dynamics of the pandemic, has also enhanced government consumption to grow by 0.66% (yoy). Spatially, Java and Sumatra islands contributed greatly to national economy with a positive growth of 3.03% (yoy) and 3.78% (yoy) respectively, followed by other areas. Only Bali and Nusa Tenggara experienced economic contraction by -0.09% (yoy) because tourism sector has not fully recovered due to the impacts of community activity restrictions.

Responding to such positive trend, General Manager Business of PT BFI Finance Indonesia Tbk (BFI Finance) for Sumatra Region, Sudi Hartono, stated that the company was optimistic to be able to close 2021 and welcome 2022 with excellent and productive performance, as a turning point from the decline in 2020.

“The increase in export of commodities such as rubber, coal, and palm oil has hoisted growth in the company’s financing business in Sumatra region, with book value increased by 72.7% yoy and 11% qoq as of September 30th, 2021,” said Sudi in the Multifinance Exhibition 2021 themed “Encouraging Financial Inclusion in North Sumatra” held in Medan, North Sumatra.

In terms of product composition, 75.9% of book value was contributed by used car financing, followed by 13.4% for heavy equipment financing, 9.3% for used motorcycle financing, and the remaining percentage was accounted for machinery financing and Sharia financing.

During the Multifinance Exhibition 2021 organized by the Indonesian Financing Firms Association (APPI) on December 3rd- 5th, 2021, BFI Finance offered a range of financing products with easy process as well as interesting promotion and prizes.

Sudi Hartono (GM Business of BFI Finance for Sumatra Region) talks with visitors at exhibition booth

Visitors are interested with business capital financing offered by BFI Finance