Perum Jamkrindo, Indonesia's state-owned credit guarantee company, has reported strong performance in its credit guarantee activities for the first half of 2018. The total credit guarantee volume surged to IDR 86.298 trillion, reflecting a growth of 22.5% compared to IDR 70.4 trillion in the same period of 2017.
Additionally, the company saw an increase in investment income, which grew by 16.98% to IDR 331.357 billion, up from IDR 283.256 billion in June 2017. The total assets of Perum Jamkrindo reached IDR 15.132 trillion by the end of H1 2018, rising from IDR 14.678 trillion in the previous year.
Perum Jamkrindo's President Director, Randi Anto, outlined that the company is targeting a guarantee volume of IDR 156 trillion for 2018, reflecting a 22.2% year-on-year increase. He attributed the growth to business expansion, particularly through the non-KUR (Kredit Usaha Rakyat) program, which showed stronger growth.
As part of its mandate to guarantee micro, small, medium enterprises (UMKMK) and cooperatives, Perum Jamkrindo continues to innovate in order to ensure sustainable business growth. The company supports the government’s KUR program while also developing new products for guarantees outside the KUR, which has been showing promising growth in the non-KUR guarantee business.
To maintain business growth momentum, Perum Jamkrindo has adopted the tagline "Let’s Change and Grow," focusing on operational system improvements, business mindset shifts, new business models, work attitudes, and changes across various aspects of the company. The growth is focused on non-conventional business products, particularly guarantees outside the KUR.
Perum Jamkrindo provides a variety of products to support government programs, including guarantees for KUR, affordable housing loans (KPR Sejahtera) with the liquidity facility (FLPP) scheme, and warehouse receipt systems. Its non-program products include general loan guarantees, microfinance guarantees, construction and procurement financing guarantees, multi-purpose credit guarantees, distribution guarantees, bank guarantees/counter guarantees, surety bonds, BPR/BPRS guarantees, custom bonds, cargo agency guarantees, invoice financing guarantees, warehouse receipt system subsidies, and fintech guarantees.
The company operates through a network of 9 regional offices, 1 special branch office, 56 branch offices, and 16 service units. In 2017, Perum Jamkrindo reported assets of IDR 14.6 trillion, up from IDR 13.4 trillion in 2016. For 2018, the company is targeting a guarantee volume of IDR 156.8 trillion, including IDR 50 trillion in KUR and IDR 106.8 trillion in non-KUR guarantees. Perum Jamkrindo also earned an Unqualified Opinion (WTP) for its 2017 financial statements, based on an audit by the public accounting firm Hertanto, Grace, Karunawan (HGK), member of TIAG, announced on Wednesday, February 28, 2018. In terms of corporate governance, Perum Jamkrindo, under the leadership of Randi Anto, achieved a "Very Good" rating and earned an AA Plus (Stable Outlook) credit rating from PEFINDO (Credit Rating Agency).