Multifinance loans shot up by 34 per cent year-on-year to Rp42.94 trillion (US$4.77bn) by the end of the first quarter of this year, according to Bank Indonesia.
Data at the central bank revealed the loans included Rp3 trillion in factoring and Rp12.35 trillion in leasing.
The chairman of the Association of Multifinance Companies (APPI), Susilo Sudjono, predicted multifinance credits will increase by 15 per cent this year.
Susilo said the prospect of multifinance business is still encouraging.
Source: Asia Pulse Businesswire
