REPUBLIKA.CO.ID, JAKARTA - Multifinance Company can still grow despite economic slowdown, also in the middle of Bank Indonesia (BI) policy, such as loan to value regulation and higher interest rate. Chairman of Indonesian Financial Services Association (APPI), Kevin said that multifinance company had managed to pass hard times since last year with down payment regulation.

"Financing strategy in early 2013 increased until June. In July, interest rates rose again. However, multifinance sector still grows, due to our strategy," Kelvin said on Tuesday.

Sale of two wheelers is estimated to grow 10 percent, from seven million units in 2012 to 7.7 million units in 2013. Sale of four wheelers is estimated to increase from 1.1 million units to 1.2 million units.

Director of Financial Institution Supervision in Financial Services Authority (OJK), Alysius Saragih said that financial performance of multifinance industry in third quarter of 2013 was still positive. Asset of multifinance companies increased 14.67 percent year on year (yoy), from 341.7 trillion IDR to 391.6 trillion IDR, while value of leasing also grew nine percent to 116.7 trillion IDR.

"It is still pretty good," Saragih said.

President Director of PT Mega Central Finance, Wiwie Kurnia said that Indonesia's economy was now quite stable compared to early and mid of 2013. Total funding of multifinance industry reached 340 trillion IDR with profit of 10.9 trillion IDR per September 2013. 

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