ILLUSTRATION. Used Vehicle Financing: Used car sales in Jakarta, Tuesday (16/01/2024). CIMB Niaga Auto Finance (CNAF) is optimistic that Ramadan will boost performance.
Reporter: Ferry Saputra | Editor: Noverius Laoli
KONTAN.CO.ID – JAKARTA. Multifinance company CIMB Niaga Auto Finance (CNAF) is optimistic that the Ramadan moment will boost performance. CNAF President Director Ristiawan Suherman believes that the growth of CNAF’s new financing will also increase.
“The moment of Ramadan, almost all segments will usually experience an increase in both new and used car financing. Apart from that, this will usually be a very good momentum for the distribution of multipurpose cash financing, especially the MSME segment which needs additional capital to increase its business stock during Ramadan until the eve of Eid,” he told Kontan, Friday (1/3).
Ristiawan said that CNAF is optimistic that it is targeting growth in new financing until the end of 2024 of IDR 10 trillion. He said this value increased by 15% from the new financing target in 2023 of IDR 8.5 trillion.
Also Read: CNAF Records Financing Receivables Growth of 34% in January 2024
Meanwhile, Ristiawan explained that CNAF’s new financing distribution in January 2024 would reach IDR 878 billion. This value increased by 70%, compared to the same period the previous year which amounted to IDR 516 billion. CNAF is optimistic that the growth of each segment will be evenly distributed this year.
In January 2024, Ristiawan said that used vehicle financing and multipurpose financing will support the growth of CNAF’s new financing distribution.
Also Read: CIMB Niaga Closes 2023 with the Highest Performance
“In terms of composition, the distribution of financing for these two segments contributed 74% of the total distribution of new financing,” said Ristiawan.
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