PT Jamkrindo (Persero) has collaborated with PT Bank BPD Jatim Tbk to enhance the existing partnership in banking services and credit guarantees over the past decades.
Amin Mas'udi, Director of Business Guarantee at Jamkrindo, stated that this collaboration was formalized through the signing of a Credit Guarantee Agreement for Working Capital Construction in the Presidential Decree Pattern, Standby Loan, and Counter Bank Guarantee.
The Agreement was signed on behalf of PT Jamkrindo (Persero) by Amin Mas'udi as the Director of Business Guarantee, Loesdarwanto as the Head of the Surabaya Regional Office VI, and Rizyana Mirda, the Director of Business Risk from PT Bank Pembangunan Daerah Jawa Timur Tbk.
This collaboration is a strategic step for both companies to strengthen their ongoing relationship, aimed at supporting the "CETTAR" (Fast, Effective, Responsive, Transparent, and Responsible) program by the East Java Provincial Government in accelerating economic growth in East Java, the gateway to Eastern Indonesia's economy, specifically helping Micro, Small, Medium Enterprises, and Cooperatives (UMKMK) involved in the Construction sector of Goods and Services procurement.
PT Jamkrindo (Persero), as the only State-Owned Guarantee Company that has been serving UMKM in Indonesia for nearly 50 years by providing guarantee services in partnership with both banking and non-banking institutions, operates in accordance with Law No. 1 of 2016 and POJK No. 02/POJK.05/2017 concerning the operations of Guarantee Institutions. Its scope of work includes implementing government tasks such as Credit Guarantee for People's Business (KUR), Microcredit Guarantee, General Credit Guarantee, Multi-purpose Credit Guarantee, Distribution Credit Guarantee, Housing Credit Guarantee (FLPP), Motor Vehicle Credit Guarantee, Surety Bond Guarantee, Custom Bond Guarantee, Bank Guarantee/Counter Guarantee, Supply Chain Financing Guarantee, and Warehouse Receipt System (SRG).
Furthermore, the company continues to develop various guarantee products to reinforce its role in the development of UMKM in Indonesia, including Peer-to-Peer (P2P) lending guarantees, always adhering to the company’s vision of becoming the leading guarantee company that supports national economic development.
In 2019, PT Jamkrindo (Persero) recorded a profit of IDR 765.71 billion, a 51% growth from 2018's profit of IDR 508.28 billion. The company’s assets grew from IDR 16.24 trillion in 2018 to IDR 17.54 trillion in 2019.
Regarding operating income, in 2019, Jamkrindo reported a net guarantee service fee (IJP) of IDR 2.53 trillion, a 54% increase from the previous year's IDR 1.64 trillion. Although 2020 presents challenges, the company’s board of directors is optimistic that Jamkrindo can meet the set targets.
To achieve these targets, several actions are being taken, including strengthening both existing and new product portfolios, reinforcing SOE synergies, focusing on profitable guarantees, and developing partnerships.
For 2020, Jamkrindo's guarantee volume target is IDR 231.5 trillion, a 13.5% growth from the 2019 realization. The breakdown includes KUR guarantees of IDR 95 trillion and non-KUR guarantees of IDR 136.5 trillion.