JAKARTA - PT BFI Finance Indonesia Tbk (BFIN) 's current year profit has declined by 51.51% to Rp 711.68 billion in 2019, compared to the same period in 2018 of Rp 1.46 trillion. The decline in earnings performance was due to general and administrative increases.
As quoted from the Financial Statements as of December 31, 2019, on Monday (24/2), BFIN recorded revenues of Rp 5.20 trillion, up slightly compared to the same period in 2018, the revenue of Rp 5.01 trillion. The biggest revenue contributor came from financing receivables of Rp 4.99 trillion, up from Rp 4.89 trillion.
Although revenue performance increased, the number of company expenses also increased in 2019 compared to 2018. Where salary and benefits expenses rose from Rp. 1.07 trillion to Rp. 1.21 trillion, general and administration rose from Rp. 541.66 billion to Rp. 704.88 billion, and other expenses rose from Rp 16.18 billion to Rp 792.32 billion.
As for the company's assets, it is recorded stable from year to year, namely in 2019 the total assets of Rp. 19.08 trillion, slightly decreased from Rp. 19.11 trillion. Total liabilities amounted to Rp 13 trillion, up from Rp 12.91 trillion. (LK)