Jakarta – PT Jaminan Kredit Indonesia (Jamkrindo) achieved remarkable financial performance in 2023, reporting a net profit of Rp 1.44 trillion, marking a 12.24% year-on-year (yoy) increase. This achievement was highlighted in the company’s 2023 financial performance report, audited by the public accounting firm Tanudiredja, Wibisana, Rintis, and Rekan (a member of the global PWC network).
Strategic Initiatives Drive Growth
Akhmad Purwakajaya, President Director of Jamkrindo, attributed the company’s positive performance to various strategic initiatives implemented throughout the year. These included revenue diversification through the optimization of non-assignment business activities, business model enhancements, and process improvements.
Jamkrindo also emphasized risk governance and compliance by implementing the three lines of defense and four eyes principles while strengthening its technological capabilities and human resources.
“We continue to innovate and transform across organizational structure, human resource management, technology systems, business operations, risk management, compliance, and financial governance to ensure sustainable growth,” Akhmad said.
Record-Breaking Performance Metrics
In 2023, Jamkrindo introduced various guarantee services that improved MSMEs' access to financing from financial institutions. This effort resulted in a 20.89% increase in the company’s guarantee volume, reaching Rp 377.63 trillion.
While the company experienced an increase in claim expenses, Akhmad noted that the rise remained manageable. Net guarantee income grew by 20.45%, significantly outpacing the 8.10% growth in net guarantee expenses.
Strong Financial Position
Jamkrindo’s total assets grew by 15.07% yoy, reaching Rp 32.23 trillion, with equity standing at Rp 13.35 trillion.
“This positive performance was supported by a stable macroeconomic environment and strategic policy measures from the government and regulators to ensure economic stability,” Akhmad added.
Optimistic Outlook for 2024
Building on its success in 2023, Jamkrindo aims to achieve a guarantee volume target of Rp 414 trillion in 2024. The company plans to leverage innovations in technology and digital services, including the Jamkrindo Online Suretyship (JOS) platform, to strengthen its non-program business processes. Other strategies include business model acceleration, robust risk management, and preparing future-ready talent.
Commitment to Sustainability
As part of its commitment to the Sustainable Development Goals (SDGs), Jamkrindo has implemented Corporate Social Responsibility (CSR) and Environmental Responsibility (TJSL) programs across Indonesia. These programs aim to promote economic equity and improve community welfare.
“Our TJSL initiatives align with the Ministry of State-Owned Enterprises' directive to integrate Creating Shared Value (CSV) principles, which combine economic and social value creation for the benefit of society,” Akhmad emphasized.
About Jamkrindo
As a credit guarantee company under the Indonesia Financial Group (IFG) holding, Jamkrindo offers a range of guarantee products. These include program-based guarantees such as KUR (People’s Business Credit) and KMK (Working Capital Loans) as part of the National Economic Recovery (PEN) program. Non-program guarantees include general credit guarantees, microcredit guarantees, construction guarantees, procurement guarantees, distribution guarantees, surety bonds, customs bonds, and supply chain financing guarantees.
Contact Information
Aribowo
Corporate Secretary, PT Jamkrindo
Email: [email protected]