Stable Prospects: Jamkrindo Retains idAA+ Rating from Pefindo

JAKARTA – The Indonesian Credit Rating Agency (Pefindo) has reaffirmed its idAA+ rating for PT Jaminan Kredit Indonesia (Jamkrindo), with a stable outlook for the period from December 27, 2022, to December 1, 2023.

According to Pefindo, a credit guarantee company with an idAA rating exhibits exceptionally strong financial security characteristics compared to other companies in Indonesia, with only minimal differences compared to higher-rated entities. The "+" sign indicates that the rating is relatively strong within its category and above the average for its class.

Jamkrindo's President Director, Hendro Padmono, expressed his gratitude for the recognition, emphasizing that the rating serves as motivation for the company to continue striving for top-tier performance. "This achievement reflects the commitment, integrity, and collaboration of all Jamkrindo personnel in executing corporate strategies and policies with prudent business, financial, and operational governance, underpinned by the principles of good corporate governance," Hendro said.

“The rating reflects the company’s critical role for the Indonesian government. With its exceptionally strong position in the credit guarantee business and robust capital base, Jamkrindo is well-equipped to optimally contribute to the government’s strategic programs, such as credit guarantees for the People’s Business Credit (KUR) program and Working Capital Loans for Economic Recovery (KMK PEN),” said Jamkrindo President Director Hendro Padmono.

Optimism for 2023

Looking ahead to 2023, Jamkrindo is optimistic about achieving solid performance. This confidence is rooted in the company’s track record of delivering positive results during challenging periods, including the Covid-19 pandemic. For 2023, Jamkrindo has adopted the theme “Retained Growth and Profitability,” emphasizing sustained growth and profitability in its credit guarantee business while expanding and strengthening its network and role in supporting MSMEs and the guarantee industry. “In 2023, we are confident in achieving a credit guarantee volume of IDR 340 trillion, driven by increased volumes in both KUR guarantees and non-KUR guarantees,” Hendro added.

PT Jaminan Kredit Indonesia (Jamkrindo) recorded a remarkable guarantee volume of IDR 312.36 trillion in 2022. This achievement comprises IDR 201.30 trillion from the People’s Business Credit (KUR) guarantees and IDR 111.05 trillion from non-KUR guarantees.

Press Release
PT Jamkrindo
Friday, February 11, 2023

About Jamkrindo
As a credit guarantee company under the umbrella of Indonesia Financial Group (IFG), Jamkrindo offers a wide range of guarantee products, encompassing both program-based and non-program-based guarantees.

Program-based guarantees include KUR and Working Capital Credit (KMK) as part of the National Economic Recovery (PEN) program. Non-program-based guarantees cover general credit guarantees, microcredit guarantees, construction and procurement guarantees, distribution guarantees, as well as surety bonds, customs bonds, supply chain financing guarantees (invoice financing), and other credit guarantees.