JAKARTA - PT Mandala Multifinance Tbk. (MFIN) recorded an increase in the company's performance in the third quarter of 2021. The number of financing distributions, the number of customers, equity and net profit continues to increase despite the peak of the pandemic and the policy of the Implementation of Community Activity Restrictions (PPKM) which will take place throughout July-September 2021.
The strategy implemented by Mandala succeeded in recording an encouraging financial performance. The amount of financing that was successfully disbursed reached IDR3.5 trillion, or grew by 71%. The net profit that was recorded as of September 30, 2021 also increased by 80% to IDR317 billion compared to 2020.
The growth recorded by Mandala in this period is in line with the trend of increasing profits in the multi-finance industry by 96.83 percent (yoy) as of September 2021, revealed by the Financial Services Authority (OJK). On the other hand, OJK noted a decrease in the number of multi-industry players, from 175 in January 2021 to 164 based on data as of September 2021.
One of the most notable transformations Mandala will make in 2021 is the Mantis app. Through the Mantis application, Mandala presents a safe, practical and reliable financing digitalization innovation. Mantis has been used by more than 30,000 users, the majority of whom are millennials and Generation Z. In the past year, the number of Mantis users has quadrupled. (LM)