BBRI - BRI Multifinance is optimistic that vehicle financing will grow this year

BBRI - BRI Multifinance is optimistic that vehicle financing will grow this year BRI Multifinance Indonesia (BRI Finance) is optimistic that financing distribution for four-wheeled vehicles will grow this year, even though car sales are experiencing a decline in the industry. According to data from the Association of Indonesians, According to BRI Multifinance, the new vehicle financing target is still in line with the initial projections of 5% yoy, and the company has set its business focus for 2024, namely on high-yield segments such as used cars and refinancing. To continue to boost financing growth in this segment, BRI Finance continues to strive by offering attractive promotions and optimizing access to debtors with the myBRIf application so that it can reach a wider market. (Source: Kontan) Comment : Despite the latest decline in auto sales, room to capture auto loan demand in the following months remains open, and thus 5% year-over-year growth sounds reachable. The focus on the high-yield segment has become the strategy of several multifinance firms and even big banks. That said, we like BRI's effort to continuously boost growth in this segment. On myBRIf, we expect the apps to grab more market share in the near future.