MUF Optimistic in Pursuing a Target of 20% Receivables Growth This Year

MULTIFINANCE - JAKARTA. Mandiri Utama Finance (MUF), a subsidiary of PT Bank Mandiri (Persero) Tbk, is stepping on the gas to pursue its financing receivables growth target of 20% by the end of 2024.

Previously, the Financial Services Authority set a target for financing companies to grow their financing receivables at a level of 10%-12% year on year (YoY).

Mandiri Utama Finance (MUF) Director Stanley Setia Atmadja said the target set is still soft, compared to the trend in recent years and the current macroeconomic conditions.

Therefore, he is optimistic that MUF can exceed the OJK's target this year.

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"The projection of multifinance receivables growth targeted by the OJK, in our view, is at a moderate level, and should be achievable this year," said Stanley.

Looking back, Stanley mentioned that the value of MUF's financing receivables recorded in January 2024 was at IDR 31.4 trillion or grew by 24.1% compared to the same period last year.

As a strategic step to achieve the target, Stanley said they rely on a variety of comprehensive financing products and implement synergistic marketing programs.

Not only that, the company also cooperates with external stakeholders, which is considered by MUF in achieving the target.

"Close sales cooperation with dealer partners and showrooms, and also penetration into the parent company's captive group segment," wrote Stanley.

He added that currently, MUF is quite concerned with the current uncertainty. This is related to global geopolitical conditions that impact liquidity and interest rates.

"These conditions must continue to be recognized and mitigated carefully and accurately by all industry players," concluded Stanley.