Funding Source for WOM Finance is Mostly from Banks Loan

MULTIFINANCE - JAKARTA. PT Wahana Ottomitra Multiartha Tbk (WOM Finance) states that currently, the majority of its funding comes from banking and the rest comes from bond issuance.

WOM Finance's Financial Director, Cincin Lisa, said WOM Finance continues to diversify its funding sources to obtain effective and efficient funding. She also revealed that so far, WOM Finance's funding comes from bank loans and bond issuance.

"For bonds, it accounts for 30% of the total company liabilities, the rest is from the bank," Cincin explained to Kontan, Wednesday (6/3).

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Previously, the Financial Services Authority (OJK) mentioned that one of the challenges in business development for financing companies is the funding source which still depends on bank loans. Bank loans take up 91.19% of the total multifinance funding.

In response to this, Cincin said, WOM Finance has diversified its funding sources to obtain effective and efficient funding. Among them is issuing bonds to support the company's business growth.

"In the future, we will continue to strive to diversify funding sources through bank loans and bond issuance," said Cincin.