Bank Indonesia (BI) has officially reduced its benchmark interest rate to 6%, a move welcomed by PT Adira Dinamika Multi Finance Tbk. The Chief Financial Officer, Sylvanus Gani, expressed optimism that this reduction will enhance consumer purchasing power and positively impact the company's funding costs, potentially improving net interest margins (NIM).
The decrease in the benchmark rate is anticipated to lead to lower banking credit rates, which are essential for financing companies like Adira Finance. Gani noted that other factors, such as market competition and liquidity conditions, will also influence the company's credit rates.
As of August 2024, Adira Finance reported new financing of IDR 25.3 trillion, with 76% allocated to automotive financing. This strategic adjustment comes as the Indonesian economy faces challenges, prompting financial institutions to adapt to the evolving market landscape.