KONTAN.CO.ID - JAKARTA. The Financial Services Authority (OJK) of Indonesia has reported a Non-Performing Financing (NPF) rate of 2.44% in the financing company industry for the fourth quarter of 2023.

According to the OJK's Q4 2023 report released on April 29, 2024, the largest contributor to the NPF rate in the financing company industry during this period was the real estate sector, which accounted for 4.96%. This was followed by other business fields, contributing 3.42%.

When compared to the NPF rate in the financing company industry for the fourth quarter of 2022, there was an increase of 0.12% in the fourth quarter of 2023. The NPF rate for the fourth quarter of 2022 stood at 2.32%.

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"In addition, the NPF rate in the financing industry for the fourth quarter of 2023 decreased compared to the previous quarter," the OJK noted in its report.

The OJK stated that the decrease was 0.15%, compared to the NPF rate in the financing company industry for the third quarter of 2023, which was 2.59%.

Meanwhile, the OJK explained that in the fourth quarter of 2023, the net profit of the financing company industry increased year-on-year (YoY) by 12.98%, amounting to IDR 23 trillion.

Editor: Syamsul Azhar