Guarantee Companies’ Profit Rises to Rp229 Billion
JAKARTA – The Guarantee and Financing Bureau of the Capital Market and Financial Institution Supervisory Agency (Bapepam-LK) reported a general improvement in the performance of the guarantee industry.
As of June 2011, guarantee companies recorded a net profit of Rp229.06 billion, compared to Rp199.54 billion in December 2010. According to data from Bapepam-LK, as cited from Okezone on Sunday (14/8/2011), total revenue up to June 2011 reached Rp379.74 billion, an increase compared to Rp511.30 billion at the end of 2010.
The total outstanding guarantees as of June 2011 amounted to Rp61.14 trillion, a decrease from Rp66.56 trillion in December 2010. This includes outstanding guarantees for productive businesses, which reached Rp15.97 trillion—an increase from Rp15.84 trillion at the end of the previous year.
Meanwhile, outstanding guarantees for non-productive businesses stood at Rp45.16 trillion as of June 2011, a decline compared to Rp50.72 trillion in December 2010.
On the other hand, the quality of credit guarantees remained strong. As of June 2011, performing credit guarantees accounted for 99.80%, an improvement from 99.69% at the end of the previous year. Meanwhile, non-performing guarantees as of June 2011 stood at just 0.04%, compared to 0.05% at the end of the previous year.
Additionally, the total assets of guarantee companies reached Rp3.53 trillion as of June 2011, up from Rp2.93 trillion in December 2010. Meanwhile, total expenses decreased to Rp150.68 billion from Rp272.43 billion at the end of the previous year.
For reference, there are currently only four guarantee companies in Indonesia:
- Jaminan Kredit Indonesia (Jamkrindo)
- Penjaminan Kredit Pengusaha Indonesia (PKPI)
- Jamkrida Jatim
- Jamkrida Bali
(Source: http://beritapajak.com/news/berita/2/409/Wow..-Laba-Perusahaan-Penjaminan-Naik-Hingga-RP229-Miliar)