State pawnshop firm PT Pegadaian clocks Rp3.1 trillion net profit

State pawnshop firm PT Pegadaian clocks Rp3.1 trillion net profit

President Director of state-owned pawnshop firm PT Pegadaian Kuswiyoto (center). (photo: Antara/Feb 13/2020/Afut Syafril/h-fdh))

Jakarta (ANTARA) - Indonesia's state-owned pawnshop company PT Pegadaian (Persero) recorded net profit of Rp3.1 trillion in 2019, or a 12-percent rise, and posted outstanding loan (OSL) of Rp50.4 trillion, or 23.3-percent growth, above the average national industry.

"Forging collaborations and synergies with hundreds of partners from SOEs, the private sector, universities, and various organizations in 2019 resulted in the number of Pegadaian customers increasing, from 10.64 million in 2018 to 13.86 million in 2019, up 3.2 million," President Director of PT Pegadaian (Persero) Kuswiyoto stated during his company's 2019 performance presentation here on Thursday.

Non-performing loans or NPL gross amounted to 1.75 percent and total financing realization reached Rp145.6 trillion and non-financing at Rp4.7 trillion.

The performance was driven by several innovative digital-based products launched by the company and aggressiveness in establishing synergy and collaboration with hundreds of partners in the country.

Moreover, Pegadaian conducted various intensive marketing programs, such as the ”Employee Get Customers” program wherein all employees and families are to be involved in marketing innovative products as well as various distribution channels, both through 4,123 outlets and 9,673 agents. Furthermore, the Pegadaian l application was utilized by over two million customers to conduct digital transactions.

The company also managed to book operating revenues of Rp17.7 trillion, up 39.3 percent, from Rp12.7 trillion in 2018. Pegadaian’s assets in 2019 rose by 23.7 percent, to Rp65.3 trillion, from Rp52.8 trillion a year earlier.

Pawn Products still dominated Pegadaian's performance, with the Pawn OSL portfolio of Rp40.3 trillion, equivalent to 80 percent. Non-pawning products contributed OSL of Rp10.1 trillion, equivalent to 20 percent in 2019.

"We will continue to focus on using pawn core business, in addition to developing other non-pawn products," Kuswiyoto stated.

Pegadaian also achieved the category of "Healthy" (AAA) and AAA Bond rating conducted by Pefindo. Related news: Pegadaian to establish sharia-based pawnshops
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