Three major finance companies had growth exceeding 20% in 1H

JAKARTA: Three major finance companies saw a loan channelling growth of more than 20% in the first half thanks to the improving economy.The three biggest gainers are PT Adira Dinamika Multi Finance Tbk, PT Buana Finance Tbk, and PT Federal International Finance.Improvement in macroeconomic sector was one of the factors that helped boost financing business, Buana Finances Director Herman Lesmana told Bisnis. Leasing, the biggest contribution in finance companies, continues to contribute positively.Growing mining and plantation sectors and higher purchasing power have helped such gains, in addition to the increasing coal and nickel Export prices."Buana Finance channelled IDR1.26 trillion of funds in the first half, or 97.4% higher than that in the same period last year.Leasing mechanismBuana Finance channelled IDR897 billion for leasing, rising 120.39% than IDR407 in the first six months of 2010.Besides leasing, the finance company channelled IDR363 billion in consumer loans, or 57.82% higher than IDR230 billion in the same period last year.Adira Finance channelled IDR14.7 trillion of funds in the first six months.The figure is higher than the companys initial target of IDR14.3 trillion.Adira, owned by PT Bank Danamon Indonesia Tbk, channelled 32.43% more funds in the first half, compared to the same period last year where the company channel ed IDR11.1 trillion.Adira channelled the funds to help the purchases of 581.519 new motorcycles, 306.652 used motorcycles, 24.958 new cars and 20.237 used cars, Corporate Secretary Yuky Hanodojono told BIsnis.Although it has passed the initial target, the company has no plan to increase the target.Astra International unit PT Federal International Finance (FIF) channelled IDR9.13 trillion funds in the first half this year, or 20.44% higher than IDR7.58 trillion in the first six months of 2010.FIF helped the financing of 612.125 new motorcycles amounting to IDR7.56 and 137.394 used motorcycles amounting to IDR1.03 trillion in the first half. The company also distributed electronic financing, known as Spectra, amounting to IDR547 billion.The improving economic condition in Indonesia gave positive impact to our motorcycle portfolio, Marketing Director Christian Wong told Bisnis. (T05/NOM)