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COUNTRY REPORT 2019
INDONESIA ECONOMIC CONDITION
GDP Growth Rate Indonesia (% per year) GDP Growth Rate 2019 Forecast
Source: ADB
OJK
STRATEGIC
POLICY FY 2019
• Increased the contribution of financial service institutions in financing priority sectors such as
the development of export industries, import substitution, tourism and housing
• Support the development of tourism Special Economic Zones (SEZ)
• Acceleration of the role of the Indonesian Export Financing Agency (LPEI)
• Development of insurance products that support tourism and exports
•KUR facility with a cluster scheme for SME in the tourism and export sectors
•The facility of established a Micro Waqf Bank
•Optimization of BUMDES to strengthen the economy of rural communities
•Distribution of millennial mortgage financing, Non-Cash Bansos, MEKAAR and
UMi
•Expansion of branchless banking programs
•Development of Securities Companies in the region
•Relaxation of the issuer's after IPO for SME issuers
•Increased financial literacy and inclusion
•Optimization of the role of the Regional Financial Access Acceleration Team
(TPAKD) and the Investment Alert Task Force
Government’s Strategic Sector Financing Alternative
Acceleration of National Economic Growth
Financial Access for SME & Communities in Remote Areas
5“Collaboration in order to build Optimism
and Acceleration for Sustainable Growth”
1
2
3
•Provision of capital market products for long-term financing such as: Limited Investment Funds (RDPT), Asset Backed Securities
(EBA), EBA in the form of Participation Letters (EBA-SP), Real Estate Investment Funds (DIRE), Infrastructure Investment
Funds (DINFRA)
•Implementation of Sustainable Financing Program & blended finance program for environmental friendl yand social government
projects
•IT-based supervision development
•Implementation of prudential international standards
•Banking efficiency through IT
•Encourage platforms sharing to increase penetration & efficiency of the Islamic banking industry
•Transformation of Non-Bank Financial Institutions through good corporate governance, prudential aspects, NBFI
market conduct, improvement of risk-based supervision, asset registry policies, and business plans for NBFI
•The acceleration of licensing and the fit & proper test to 14 working days from 30 working days
•Licensing optimization through relaxation process of the fit & proper for existing banking management, electronic
public offering implementation & simplification of online Mutual Fund transaction processes
Preparing the Financial Services
Industry for the Industrial Revolution 4.0
Reforming OJK's Industrial Process and Internal Business
4
5
OJK
STRATEGIC
POLICY IN 20195
“Collaboration Building Optimism and
Acceleration for Sustainable Growth”
•Digitizing financial products and services
•Development facilities for Fintech Peer to Peer
Lending and Equity Crowdfunding
•Arrangements that encourage innovation & consumer
protection
•Increasing community literacy towards Fintech
•Law enforcement for illegal Fintech Start-up which
detrimental to society
INDONESIA ELECTION 2019
Fact sheets:
• Indonesia is the world’s third-biggest
democracy (after China and the United
States)
• The first time organized the presidential
and legislative elections simultaneously on
one single day.
• The country constitutes an enormous
archipelago (in fact, it is the world’s largest
archipelago that stretches over 5,150
kilometer and is composed of around
17,000 islands).
• Indonesia’s elections can actually be
labelled as the world’s most-complex
elections
INDONESIAMultifinanceIndustry
▪ POJK 1/POJK.07/2013
▪ POJK 1/POJK.07/2014
▪ POJK 76/POJK.07/2016
▪ SEOJK 1/SEOJK.07/2014
▪ SEOJK 2/SEOJK.07/2014
▪ SEOJK 12/SEOJK.07/2014
▪ SEOJK 13/SEOJK.07/2014
▪ SEOJK 14/SEOJK.07/2014
▪ SEOJK 7/SEOJK.07/2015
▪ SEOJK 54/SEOJK.07/2016
Consumer Protection
▪ POJK 3/POJK.05/2013
▪ SEOJK 6/SEOJK.05/2013
▪ SEOJK 3/SEOJK.05/2016
▪ SEOJK 4/SEOJK.05/2016
Monthly Report
▪ POJK 34/POJK.03/2014
▪ POJK 4/POJK.05/2013
▪ POJK 27/POJK.03/2016
▪ SEOJK 31/SEOJK.05/2016
▪ POJK 34/POJK.03/2018
Risk Based Supervision
▪ POJK 17/POJK.03/2014
▪ POJK 26/POJK.03/2013
▪ POJK 18/POJK.03/2014
▪ POJK 51/POJK.03/2017
Financial Conglomeration
▪ POJK 35/POJK.05/2018
▪ POJK 10/POJK.05/2019
▪ POJK 28/POJK.05/2014
▪ POJK 30/POJK.05/2014
▪ SEOJK 20/SEOJK.05/2015
▪ SEOJK 15/SEOJK.05/2016
Multifinance Business
▪ POJK 10/POJK.05/2014
▪ POJK 11/POJK.05/2014
▪ POJK 1/POJK.05/2015
▪ SEOJK 04/SEOJK.05/2015
▪ SEOJK 05/SEOJK.05/2015
▪ SEOJK 1/SEOJK.05/2016
▪ SEOJK 2/SEOJK.05/2016
Fit & Proper
▪ POJK 3/POJK.02/2014
▪ SEOJK 4/SEOJK.02/2014
OJK Fee▪ POJK 12/POJK.01/2017
KYC
REGULATION RELATED TO MULTIFINANCE
Financial Technology
▪ POJK 77/POJK.01/2016
Multifinance
7
Multifinance Line of Business and Schemes
Investment Financing Working Capital Financing Multipurpose Financing
a. Finance Lease;b. Sale and Lease Back;c. Factoring With Recourse;d. Factoring Without Recourse;e. Purchases With Installment
Payments;f. Project Financing;g. Infrastructure Financing;h. Other financing based on the
approval of OJK
a. Sale and Lease Back;b. Factoring With Recoursec. Factoring Without Recoursed. Working Capital Facility;e. Other financing based on
the approval of OJK
a. Finance Lease;b. Purchases With
Installment Payments;
c. Fund Facility;d. Other financing
based on the approval of OJK
Multifinance Industry Performance
AR FIN ↑5.17%
ASSET ↑5.05%
EQUITY ↑11.34%
LOAN ↑2.33%
SHARIA FIN ↓31.27%
PROFIT ↑19.55%1USD = Rp 14.000 IDR
Detail (in Billion USD) 2014 2015 2016 2017 Mar-18 2018 Mar-19
Total assets 30.03 30.41 31.63 34.09 34.56 36.06 36.31
Account receivable financing
26.16 25.95 27.68 29.63 29.94 31.16 31.49
Investment Financing 12.48 12.29 7.50 8.50 8.86 9.73 9.81
Working Capital Financing 0.67 0.76 1.50 1.63 1.63 1.72 1.67
Multipurpose Financing 13.01 12.89 16.44 17.44 17.56 18.31 18.71
Others financing - - 0.001 0.01 0.01 0.01 0.01
Sharia financing receivable -
- 2.24 2.06 1.88 1.39 1.29
Domestic Loans 10.08 9.86 11.39 12.68 12.84 12.92 12.31
Foreign Loans 8.17 7.68 5.91 5.96 6.51 7.51 7.51
Bonds Payable 3.80 4.34 4.99 5.36 5.13 5.04 5.23
Equity 6.24 6.86 7.37 8.06 7.97 8.54 8.87
Profit (Loss) 0.87 0.76 0.86 0.95 0.26 1.14 0.32
MULTIFINANCE INDUSTRYRatio
GEARING RATIO01
FAR02
NPF03
ROA04
DEC 2018 MAR 2019
ROE05
Op Exp/Op. Income06
2.99X 2.84X
86.4% 86.7%
2.71% 2.71%
4.34% 4.73%
13.9% 14.6%
80.7% 79.2%
AR Financing (as of Mar’19)
Source: OJK
123.89227%
17.8114%
304.199 66%
8.239 2%
3,508 1%
Barang Produktif
Barang Infrastruktur
Barang Konsumsi
Jasa
Piutang Usaha
133.01144%78.570
26%
57.78019%
20,0557%
4.4951%
3.4301%
3.2931% 1,084
0%
2,4821%
Kendaraan Bermotor Roda Empat Baru
Kendaraan Bermotor Roda Dua Baru
Kendaraan Bermotor Roda Empat Bekas
Kendaraan Bermotor Roda Dua Bekas
Barang-barang Elektronik
Rumah Tinggal Bekas Pertama
Barang Konsumsi Lainnya
Alat-alat Rumah Tangga Non Elektronik
lainnya
45.29137%
38.32231%
14.04811%
13.24611%
4.0533%
9.0217%
Mobil Pengangkutan
Alat-alat Berat
Mesin-mesin
Barang Produktif Lainnya
Kapal Laut/Alat Transportasi Air
lainnya
Productive goods
Infrastructure goods
Consumptive goods
Services
Account Rec
Composition of Financed Consumptive Goods
New R2
New R4
Electronics
Used R4
Used R2
Electronics Housing Product
Others
Composition of Financed Productive Goods
Trucks/Buses
Heavy equipment
Machinery
Productive Goods
Boats/Ships/others water transportation
others
Composition based on Financing
Object
11
Other Consumption Product
Non-Electronics Housing Product
1.105 branches in Sumatera
2.281branches in
Jawa
413Branches in Kalimantan
665 branches
in Sulawesi, Bali, TB, NTT,
Maluku &Papua
24,75% 9,25%
Multifinance Branches & Financing (as of March 2019)
SUMATERA
1.105 Branches
24.75% Financing Activities
JAVA
2.281 Branches
52.10% Financing Activities
KALIMANTAN
413 Branches
9.25% Financing Activities
SULAWESI, BALI, PAPUA,
NTB-NTT, MALUKU
665 Branches
14.9% Financing Activities
2016
2017
2018
May 2019
196 MEMBER192 Multifinance
4 Non Multifinance
191 MEMBER185 Multifinance
6 Non Multifinance
195 MEMBER182 Multifinance13 Non Multifinance
195 MEMBER181 Multifinance13 Non Multifinance
No. of licenses from Financial Services Authority
2016 20182017 May 2019
MEMBER of
183200 193 185
FY
No. of license
AFFILIATION STATUS
31 17%
33 18%119
65%
No. of Company Based on Affiliation Status
ATPM Bank Tidak terafiliasiDealer Not Affiliated
216,047 43%
162,505 32%
127,715 25%
Total Asset Based on Affiliation Status
ATPM Bank Tidak terafiliasiDealer Not Affiliated
• 33 companies affiliated with bank have 32% of the industry total Asset• 31 companies affiliated with automotive dealership have 43% of the industry total Asset• 119 companies which are not affiliated with either Bank or automotive dealership only have 25% of the
Industry total Asset
OTHERS : CHINA, CZECH, USA, KUWAIT-BAHRAIN, THAILAND, AUSTRALIA, NETHERLAND, MAURITIS
11 Companies
From Total of 181 of APPI members, 62 are joint venture Companies
JAPAN
37 Companies
KOREA5 Companies
OJK data shows: The total human resources of the multifinancecompanies are 220.898 employees, consist of 43.221 employeesworking at headquarters, 152.765 branch offices, and 24.912 officesother than branch office.
152.76569%
43.221 20%
24,91211%
Kantor Cabang Kantor Pusat Kantor Selain Kantor CabangOffice Other than Branch OfficeBranches Head Office
MultifinanceHuman Resources
SINGAPORE9 Companies
LIST OF APPI MEMBER
No MULTIFINANCE
1 AB SINAR MAS MULTIFINANCE
2 ADICIPTA INOVASI TEKNOLOGI
3 ADIRA DINAMIKA MULTI FINANCE
4 ADITAMA FINANCE
5 AEON CREDIT SERVICE INDONESIA
6 AKULAKU FINANCE INDONESIA
7 AL IJARAH INDONESIA FINANCE
8 AMANAH FINANCE
9 ANADANA GLOBAL MULTIFINANCE
10 ANDALAN FINANCE INDONESIA
11 ANUGERAH BUANA CENTRAL MULTIFINANCE
12 ANUGERAH UTAMA MULTIFINANCE
13 ARMADA FINANCE
14 ARTHA PRIMA FINANCE
15 ARTHAASIA FINANCE
16 ASIA MULTIDANA
17 ASIATIC SEJAHTERA FINANCE
18 ASTRA AUTO FINANCE
19 ASTRA MULTI FINANCE
20 ASTRA SEDAYA FINANCE
21 ASTRIDO PACIFIC FINANCE
22 BATARA INTERNASIONAL FINANSINDO
23 BATAVIA PROSPERINDO FINANCE
24 BCA FINANCE
25 BENTARA SINERGIES MULTIFINANCE
26 BERGUNA MULTI FINANSINDO
27 BETA INTI MULTIFINANCE
28 BFI FINANCE INDONESIA
No MULTIFINANCE
29 BHUMINDO SENTOSA ABADI FINANCE
30 BIMA MULTI FINANCE
31 BINTANG MANDIRI FINANCE
32 BNI MULTIFINANCE
33 BOSOWA MULTI FINANCE
34 BRI MULTIFINANCE INDONESIA (BRI FINANCE)
35 BRINGIN INDOTAMA SEJAHTERA FINANCE
36 BRINGIN SRIKANDI FINANCE
37 BUANA FINANCE
38 BUANA SEJAHTERA MULTIDANA
39 BUKOPIN FINANCE
40 BUMIPUTERA - BOT FINANCE
41 BUSSAN AUTO FINANCE
42 CAKRAWALA CITRAMEGA MULTIFINANCE
43 CAPELLA MULTIDANA
44 CATERPILLAR FINANCE INDONESIA
45 CATURNUSA SEJAHTERA FINANCE
46 CENTRAL JAVA POWER
47 CENTRAL SANTOSA FINANCE
48 CENTURY TOKYO LEASING INDONESIA
49 CHANDRA SAKTI UTAMA LEASING
50 CIMB NIAGA AUTO FINANCE
51 CIPTADANA MULTIFINANCE
52 CITIFIN MULTIFINANCE SYARIAH
53 CITRA MANDIRI MULTIFINANCE
54 CLEMONT FINANCE INDONESIA
55 CLIPAN FINANCE INDONESIA
56 COMMERCE FINANCE
LIST OF APPI MEMBER
No MULTIFINANCE
57 DAINDO INTERNASIONAL FINANCE
58 DANA UNICO FINANCE
59 DANAREKSA FINANCE
60 DANASUPRA ERAPACIFIC
61 DAYA SEMBADA FINANCE
62 DIAN MANDIRI MULTIFINANCE
63 DIPO STAR FINANCE
64 EBIZ CIPTA SOLUSI
65 EMPEROR FINANCE INDONESIA
66 EQUITY FINANCE INDONESIA
67 FEDERAL INTERNATIONAL FINANCE
68 FINANSIA MULTI FINANCE
69 FIRST INDO FINANCE
70 FORTUNA MULTI FINANCE
71 FUJI FINANCE INDONESIA
72 GENIE MULTI FINANCE
73 GLOBALINDO MULTI FINANCE
74 GROUP LEASE FINANCE INDONESIA
75 HASJRAT MULTIFINANCE
76 HEWLETT-PACKARD FINANCE INDONESIA
77 HEXA FINANCE INDONESIA
78 HINO FINANCE INDONESIA
79 HITACHI CAPITAL FINANCE INDONESIA
80 HOME CREDIT INDONESIA
81 IBJ VERENA FINANCE
82 IFS CAPITAL INDONESIA
83 INDOCYBER GLOBAL TEKNOLOGI
84 INDOMOBIL FINANCE INDONESIA
No MULTIFINANCE
85
86
INDONESIA INTERNATIONAL FINANCE
INDOSURYA INTI FINANCE
87 INOVASI MITRA SEJATI
88 INTAN BARUPRANA FINANCE
89 INTENSIF MULTI FINANCE
90 INTERNUSA TRIBUANA CITRA MULTI FINANCE
91 INTI ARTHA MULTIFINANCE
92 ISID INDONESIA
93 ITC AUTO MULTI FINANCE
94 JTRUST OLYMPINDO MULTI FINANCE
95 KARUNIA MULTIFINANCE
96 KARYA TECHNIK MULTIFINANCE
97 KOEXIM MANDIRI FINANCE
98 KOMATSU ASTRA FINANCE
99 KRESNA REKSA FINANCE
100 LOTTE CAPITAL INDONESIA
101 MANDALA MULTI FINANCE
102 MANDIRI FINANCE INDONESIA
103 MANDIRI TUNAS FINANCE
104 MANDIRI UTAMA FINANCE
105 MASHILL INTERNASIONAL FINANCE
106 MAXIMA INTI FINANCE
107 MAYBANK INDONESIA FINANCE
108 MEGA AUTO FINANCE
109 MEGA CENTRAL FINANCE
110 MEGA FINADANA FINANCE
111 MEGA FINANCE
112 MIRASURYA MULTI FINANCE
113 MITRA ADIPRATAMA SEJATI FINANCE
LIST OF MEMBER
No MULTIFINANCE
114 MITRA DANA TOP FINANCE
115 MITRA PINASTHIKA MUSTIKA FINANCE
116 MITRA PRATAMA FINANCE
117 MITSUBISHI UFJ LEASE & FINANCE INDONESIA
118 MITSUI LEASING CAPITAL INDONESIA
119 MIZUHO BALIMOR FINANCE
120 MNC FINANCE
121 MNC GUNA USAHA INDONESIA (MNC LEASING)
122 MULTINDO AUTO FINANCE
123 MURNI UPAYA RAYA NILAI INTI FINANCE
124 MUTIARA MULTI FINANCE
125 NATIONAL FINANCE
126 NETSOL TECHNOLOGIES INC
127 NISSAN FINANCIAL SERVICES INDONESIA
128 NUSA SURYA CIPTADANA
129 ORIX INDONESIA FINANCE
130 OTO MULTIARTHA
131 OTOMAS MULTI FINANCE
132 OVO FINANCE INDONESIA
133 PACIFIC MULTI FINANCE
134 PANEN ARTHA INDONESIA MULTI FINANCE
135 PANN PEMBIAYAAN MARITIM
136 PARAMITRA MULTIFINANCE
137 PEFINDO BIRO KREDIT
138 PERMATA FINANCE INDONESIA
139 POOL ADVISTA FINANCE
140 PPA FINANCE
No MULTIFINANCE
141 PRACICO MULTI FINANCE
142 PRATAMA INTERDANA FINANCE
143 PRO CAR INTERNATIONAL FINANCE
144 PROLINE FINANCE INDONESIA
145 RABANA INVESTINDO
146 RADANA BHASKARA FINANCE (RADANA FINANCE)
147 RAMA MULTI FINANCE
148 REKSA FINANCE
149 RESONA INDONESIA FINANCE
150 RIDEAN FINANCE
151 RINDANG SEJAHTERA FINANCE
152 SADIRA FINANCE
153 SAHABAT FINANSIAL KELUARGA
154 SAISON MODERN FINANCE
155 SARANA GLOBAL FINANCE INDONESIA
156 SATYADHIKA BAKTI MULTI FINANCE
157 SGMW MULTIFINANCE INDONESIA
158 SHAKTI TOP FINANCE
159 SHARIA MULTIFINANCE ASTRA
160 SHINHAN INDO FINANCE
161 SINAR MITRA SEPADAN FINANCE
162 SINARMAS HANA FINANCE
163 SINARMAS MULTIFINANCE
164 SMART MULTI FINANCE
165 SMFL LEASING INDONESIA
166 STACO ESTIKA SEDAYA FINANCE
167 STAR FINANCE
LIST OF MEMBER
No MULTIFINANCE
168 SUMMIT OTO FINANCE
169 SUNINDO PARAMA FINANCE
170 SURYA ARTHA NUSANTARA FINANCE
171 SUZUKI FINANCE INDONESIA
172 SWADHARMA BHAKTI SEDAYA FINANCE
173 SWADHARMA NUSANTARA PEMBIAYAAN
174 SWARNA NIAGA FINANCE
175 TAKARI KOKOH SEJAHTERA
176 TEKNOLOGI PENGANGKUTAN INDONESIA
177 TEMPO UTAMA FINANCE
178 TEZ CAPITAL AND FINANCE
179 TIFA FINANCE
180 TIRTA FINANCE
181 TOPAS MULTI FINANCE
182 TOYOTA ASTRA FINANCIAL SERVICES
183 TRANSPACIFIC FINANCE
184 TRIHAMAS FINANCE
185 TRIHAMAS FINANCE SYARIAH
186 TRIPRIMA MULTIFINANCE
187 TRUST FINANCE INDONESIA
188 U FINANCE INDONESIA
189 USAHA PEMBIAYAAN RELIANCE
190 VARIA INTRA FINANCE
191 VERENA MULTI FINANCE
192 WAHANA OTTOMITRA MULTIARTHA
193 WANNAMAS MULTI FINANCE
194 WOKA INTERNATIONAL FINANCE
THANK YOU
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