WOM Finance (WOMF) Targets 11% Growth in New Financing

April 29, 2024, 06.15 AM | Reporter: Nova Betriani Sinambela

ILUSTRASI. Employees calculate customer installments at the PT Wahana Ottomitra Multiartha Tbk (WOM Finance) branch office, Jakarta, Wednesday (24/4/204). WOM Finance succeeded in distributing new multipurpose financing in the first quarter of 2024 amounting to IDR 1.1 trillion. WOM projects that new financing this year could reach IDR 6.5 trillion or grow 12% compared to 2023 achievements. (KONTAN/Baihaki)

MULTIFINANCE - JAKARTA. PT Wahana Ottomitra Multiartha Tbk, also known as WOMF or WOM Finance, has announced a target of an 11% increase in new financing distribution by the end of 2024.

In order to achieve this goal, WOM Finance's Financial Director, Cincin Lisa, explained that the company will continuously improve its business potential development process.

"The company will maintain a healthy and growing portfolio quality, while providing maximum service to consumers," Lisa told Kontan.co.id recently.

For context, WOM Finance recorded a total new financing distribution of Rp 1.4 trillion in the first quarter of 2024.

Of the total financing distributed, the MobilkuMobilku multi-purpose segment holds the largest market share, accounting for 58% of the total financing distributed.

This is followed by the MotorKu multi-purpose and New Motor financing, with each having a share of 23% for MotorKu multi-purpose financing, and 19% for New Motor financing.

Furthermore, WOM Finance continues to maintain a non-performing loan ratio or gross NPF ratio of 2.06% in the first quarter of 2024.