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Oustanding value of credit guarantee industry reached Rp 229.25 trillion

09 July 2019 09:46

JAKARTA. The Financial Services Authority (OJK) recorded that the Outstanding value of credit guarantees reached Rp 229.25 trillion as of May 2019. This is 4.25% higher compared to the record from the same period last year, which was Rp 219.9 trillion.

The outstanding was collected from 22 guarantee companies, including government guarantee companies, regional guarantee companies, conventional private guarantee companies, and sharia private guarantee companies.

Of the total guarantees, as of May 2019, the portion of earning guarantee is still bigger, reaching 59%. The rest 41% is non-earning guarantee.

According to Randi Anto, Chairperson of the Association of Indonesian Credit Guarantee Corporations (Asippindo), in general, good economic conditions and optimism in the community strongly boosted the guarantee Industry. Specifically until May 2019, there were several factors that helped boost the guarantee industry.

"The movement of trickle-down infrastructure sector has encouraged the growth of the guarantee industry, both for sub-contractors and other supporting services," Randi Anto told Kontan.co.id on Monday (8/7). (AM)

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