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Adira Finance recorded net profit growth of 12.5% YoY

30 April 2020 22:36

JAKARTA. PT Adira Dinamika Multi Finance Tbk (ADMF) announced that its net profit grew by 12.5% YoY in Q1 2020 to Rp 520 billion.

Hafid Hadeli, President Director of ADMF, said the net profit was supported by new financing of Rp 8.4 trillion recorded in Q1 2020. Hadeli acknowledged that financing in Q1 2020 had decreased, due to the COVID-19 pandemic.

"This decline is due to the weakening of consumer purchasing power due to the spread of COVID-19, and the decline in the prices of commodities such as oil, coal, and CPO," Hadeli explained to idnfinancials.com through an official statement.

In terms of revenue, the subsidiary of PT Bank Danamon Indonesia Tbk (BDMN) recorded an operating income of Rp 2.1 trillion in Q1 2020, recording a growth of 8.7% YoY.

However, ADMF's Non Performing Loan (NPL) ratio also rose slightly to 1.8% in Q1 2020. 

Hadeli asserted that ADMF will continue to distribute new financing even though the national economy was weakening, while also adjusting the criteria to current conditions. "We have taken the initiatives to ensure the safety of employees, and we also continue to continue business operations," Hadeli explained. (KR/AR)

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