JAKARTA - PT Federal International Finance (FIFA), a vehicle leasing company, recorded a decline in performance throughout 2020, due to the impact of COVID-19 pandemic, compared to the 2019 period. It was reflected in the disbursements for consumer financing, slowing from IDR 34.02 trillion to IDR 29. 21 trillion.
In the 2020 Financial Report published on Thursday (25/2), Margono Tanuwijaya, President Director of FIFA said that the company's income was recorded at IDR 9.57 trillion, lower than in 2019 period of IDR 9.98 trillion. Meanwhile, the net profit was IDR 1.48 trillion, fell from IDR 2.56 trillion.
The biggest contributor to FIFA's revenue came from third party consumer financing of IDR 9.33 trillion, followed by income from interest and fines of IDR 179.38 billion, income from ijara of IDR 46.43 billion, and other income of IDR 14.17 billion. Motor vehicles are the largest product financed by FIFA, followed by financing for electronic products.
In 2020, FIFA earned IDR 9.02 trillion in motor vehicle financing, IDR 503.57 billion in electronics, and IDR. 50.29 billion for other products. In 2019, income from motor vehicle financing was IDR 9.30 trillion, electronics IDR 676.26 billion, and other products IDR 6.53 billion. (LK/VA)