Performance Soars in Q3, Jamkrindo Optimistic to Achieve 2022 Profit Targets

JAKARTA, December 15, 2022 – Jamkrindo Records Positive Performance in Q3 2022. PT Jaminan Kredit Indonesia (Jamkrindo), Indonesia's largest credit guarantee company and a member of the Indonesia Financial Group (IFG) Holding, has achieved remarkable growth in the third quarter of 2022. The company reported a net profit of Rp802 billion as of September 2022, marking a significant 44.76% increase compared to Rp554 billion in the same period the previous year. Additionally, the company’s total assets reached Rp29.95 trillion, with equity standing at Rp13.08 trillion.

Suwarsito, Jamkrindo’s Director of Finance, Investment, and Risk Management, highlighted that the net profit was driven by total revenues amounting to Rp6.15 trillion. This figure includes:

• Operational Revenues (guarantee and investment revenues): Rp5.41 trillion.
• Net Subrogation Income: Rp641.63 billion.
• Other Revenues: Rp25.21 billion.

The company’s total guarantee volume as of September 2022 reached Rp220.36 trillion, comprising:

• KUR (People’s Business Credit) Guarantees: Rp149.98 trillion.
• Non-KUR Guarantees: Rp70.37 trillion.

“With the positive achievements in the third quarter, where we have already secured 98% of the 2022 net profit target, we are optimistic that by the end of the year, Jamkrindo will surpass the 2022 RKAP (Company Work Plan and Budget) target of Rp818.95 billion,” said Suwarsito.

Jamkrindo’s outstanding achievements in Q3 2022 underline the success of its corporate transformation efforts. The company has implemented a strategic transformation across six core elements: organizational structure, human resource management, technology systems, business operations, risk management and compliance, and financial governance. These measures have been key to ensuring sustainable performance improvements.

Suwarsito, Jamkrindo’s Director of Finance, Investment, and Risk Management, emphasized that these fundamental changes were essential due to the company’s strategic role in facilitating feasible MSMEs’ access to effective and efficient financing. By bridging MSMEs to financial institutions, Jamkrindo plays a pivotal role in empowering small businesses and cooperatives to grow sustainably.

“Jamkrindo will continue its transformation to strengthen the company’s fundamentals and drive innovation. Our aim is to provide products and services that meet the needs of our partners while addressing the evolving opportunities and challenges in the guarantee business,” said Suwarsito.

In its mission to enhance MSME and cooperative financial accessibility, Jamkrindo offers innovative and competitive guarantees with professional and efficient services. To simplify the guarantee application process for MSMEs, Jamkrindo introduced the Jamkrindo Online Suretyship (JOS) application. Through JOS, principals seeking project guarantees no longer need to visit Jamkrindo offices; they can simply register online via suretyship.jamkrindo.co.id.

Additionally, Jamkrindo has launched www.umkmlayak.co.id, a marketplace guarantee platform designed to provide MSMEs with access to business capital and training programs. This platform bridges MSMEs requiring financing with financial institutions offering loans to this segment, facilitating their growth.

“We believe that Jamkrindo’s products and services will make it easier for MSMEs to obtain guarantees, thereby accelerating their business growth,” Suwarsito remarked. He further highlighted the importance of support and collaboration with stakeholders to strengthen MSMEs and foster sustainable positive growth.

Jamkrindo’s commitment to innovation and transformation underscores its dedication to empowering MSMEs, ensuring their long-term success, and reinforcing its role as a key player in Indonesia’s economic ecosystem.