Jakarta | Amid the credit growth rate in 2015 that did not meet the target, the assets of Perusahaan Umum Jaminan Kredit Indonesia and its subsidiary (Jamkrindo) grew by 16 percent. The company’s profit also increased by 18 percent.
"The company's assets grew from Rp 10.029 trillion in 2014 to Rp 11.643 trillion in 2015," said Jamkrindo President Director Diding S. Anwar in the audited financial report released on Friday (12/2/2016).
Comprehensive profit, he continued, rose from Rp 715.664 billion in 2014 to Rp 845.163 trillion. Meanwhile, asset growth was supported by an increase in cash by Rp 398.229 billion compared to the end of 2014, reaching Rp 5.595 trillion.
The ownership of securities also contributed to asset growth, increasing from Rp 2.7 trillion in 2014 to Rp 2.925 trillion in 2015. Jamkrindo's fixed assets also surged to Rp 396.123 billion in 2015 from Rp 54.425 billion in 2014.
Diding stated that Jamkrindo's revenue in 2015 declined compared to the previous year, in line with the slowdown in national credit. The company's revenue was recorded at Rp 1.563 trillion in 2015, down from Rp 1.686 trillion in 2014. However, he added, the still-growing profit was supported by other comprehensive income, which jumped from Rp 52.461 billion in 2014 to Rp 219.809 billion.
At the same time, the company's liabilities also increased from Rp 1.625 trillion in 2014 to Rp 2.167 trillion in 2015. This surge was driven by deferred income, tax payables, and reinsurance payables. However, claim reserves decreased, as did other payables and post-employment benefits liabilities.
To support its performance, this state-owned enterprise (BUMN) received an additional state capital injection (PMN) of Rp 500 billion in 2015, up from Rp 6.638 trillion in 2014. The company's equity increased—from Rp 8.405 trillion in 2014 to Rp 9.476 trillion in 2015—also contributed by increases in retained earnings, other reserves, and other equity components.
Jamkrindo is a state-owned enterprise that guarantees various types of credit disbursements, including government-subsidized interest credit and other loans. Among the credits guaranteed by Jamkrindo are People's Business Credit (KUR), Retail KUR, KURT TKI, Food and Energy Resilience Credit (KKPE), Cattle Breeding Business Credit, and Subsidized Mortgage (KPR) under the Housing Financing Liquidity Facility (FLPP).
In addition, Jamkrindo also guarantees other credit and financing types, including micro, general, construction, and procurement financing, as well as warehouse receipt system guarantees. Islamic financing products are also included in Jamkrindo's guarantees, although their share remains insignificant. (adv/team/kompas/various sources)