PT Wahana Ottomitra Multiartha Tbk ("WOM Finance") at the 2022 Public Expose event acknowledged that the motor vehicle industry has become one of the fertile industries after the post-pandemic in Indonesia. WOM Finance President Director Djaja Suryanto Sutandar said in a statement on Tuesday (11/01/2022) that Indonesia was deemed to have succeeded in getting out of a weakening economy and starting to experience growth. This is evidenced by various positive records and WOM Finance continues to show a significant performance compared to the same period in the previous year. "WOM Finance's automotive financing, precious metals (gold), and multipurpose financing segments managed to grow positively. This was supported by the right business model and collaboration with the digital ecosystem. The proper distribution of financing is a reflection of our desire to recover as before the pandemic period. ," said Djaja Suryanto. To navigate the year 2023, his party also has an initiative to develop business potential, both in the financing area and distribution channels to increase business growth by digitizing business processes so as to increase the Company's productivity.
In addition, the company will also optimize the database of the Company's existing customers in the excellent - good category and optimize the billing strategy that prioritizes early overdue handling. "We will also continue to make continuous improvements to the credit initiation process by continuing to evaluate credit policies and procedures," he said. On the same occasion, Cincin's Finance Director Lisa Hadi said that in line with the year of economic recovery, WOM Finance continued to maintain positive and efficient growth in the third quarter of 2022. WOM Finance also managed to disburse financing of IDR 3.3 trillion until the third quarter of 2022, an increase of 10 percent from the same period in the previous year which was only IDR 3 trillion. Meanwhile, WOM Finance's net profit increased 62% to IDR 123 billion compared to the same period in 2021 which reached IDR 76 billion. For your information, WOM Finance's total assets are IDR 5.5 trillion, an increase of 15% compared to the same period the previous year IDR 4.8 trillion. Total Equity of IDR 1.4 trillion, an increase of 11% compared to the same period the previous year of IDR 1.3 trillion. In terms of ratios, WOM Finance still maintains a low credit risk. The gross non-performing financing (NPF) ratio improved to 1.7% and the net NPF to 0.7%. Return on Assets (ROA) of 4.3% with Return on Equity (ROE) of 11.9%, positive growth of 1.7% and 3.9% respectively compared to September 2021.
