JAKARTA. Business financing at this year is pretty heavy for multi-finance industries, including PT Adira Dinamika Multifinance. At the first nine months of this year, new loans of Adira Finance are only up 3% comparing to the same period last year.

Adira Finance Director Hadeli Hafid said, the new finance portfolio from the period the beginning of the year until the end of September reached Rp 25,5 trillion. This number is slightly higher than the same period last year of Rp 24.8 trillion.

Hafid said that the mini growth is related with slowing growth in the automotive market. It is directly impact on the booking new loans in almost every multifinance. “The growth of automotive market is not as big as we expected,” Hadeli said on Tuesday (7/10).

The macroeconomic economic growth tends to slow since the beginning of this year. Moreover the political year made the market wait and see. The cost of funds is also more expensive. Though, the funding is easy to get, but the liquidity is getting tight.

Because of this, he predicts, the growth of new financing until the end of this year will not reach double digits. Adira Finance is pursuit growth about 8% at this year.

Adira has no plans to follow the lead of some other finance companies who want to expand business lines. Hafid said, Adira choose to stay focused on the automotive credit business. "We also have to follow the direction of its parent company, Bank Danamon," he said.

Motorcycle financing is still dominates for Adira portfolio by Rp 15 trillion. It is increase from the same period last year of Rp 14 trillion. Cars financing is down slightly from Rp 10,8 trillion to Rp 10.5 trillion.

Deputy Director, Head of Retail Car Financing Adira Finance Niko Kurniawan said, new and used car loans this year are equally heavy. Many new cars are not absorbed by the market, so even though the national car production rose, still not able to sustain financing a new car.

On the other hand, with discounts running from car manufacturers and dealers for new cars continues to suppress the used car market. The loans distributed by Adira for new and used cars each Rp 7 trillion and Rp 3.5 trillion as of September 2014.

Editor: Hendra Gunawan