KONTAN.CO.ID - JAKARTA. Even though the Covid-19 pandemic is still ongoing, the multi-finance industry is slowly starting to rise in terms of new financing received. However, it seems that some companies are still keeping their operational costs tight in order to maintain financial efficiency.

Based on OJK data as of the first quarter of 2021, the total operating expenses for the financing industry still decreased by 20.5% year-on-year (yoy) to Rp 18.76 trillion. In fact, in the same period the previous year it reached Rp 23.61 trillion.

Several operating expenses decreased, including marketing costs, which fell by 33.8% yoy to IDR 848 billion. There were also administrative and general costs, which were corrected by 16.7% yoy to IDR 1.6 trillion and labor costs which decreased by 13.4% yoy to IDR 4.5 trillion.

Entering the second quarter, one of the multi-finance companies that is still making efficiency is PT Mandiri Utama Finance (MUF). It should be noted, MUF itself has started to experience an increase in terms of new financing received. Until April 2021, the company has received new financing amounting to Rp 3.07 trillion, an increase of 40.3% yoy

Even though new financing has increased, MUF is still maintaining the operational costs incurred. Currently, the company says that it has a Cost Reduction Program (CRP) which functions to improve operational cost efficiency, especially during a pandemic.

"The trend in financing does show an increase. But the shadow of a pandemic has not been finished yet, so we must be on guard, "said Mandiri Utama Finance President Director Stanley Setia Atmadja to Kontan.co.id, some time ago.

Stanley added, if you have to increase operational costs, his party admits that it will focus on spending on automation. This is because he thinks that robotic can provide efficiency for operational costs.

"In addition, with the increase in automotive volume, promotion costs will certainly follow a controlled increase," added Stanley.

Slightly different, PT CIMB Niaga Auto Finance (CNAF) admitted that it had experienced a growth in core opex costs even though it was only 2% yoy. However, this growth was accompanied by a growth in the realization of financing and assets which reached 15% yoy.

"It can be concluded, CNAF has succeeded in carrying out efficiency, where cost growth is accompanied by greater growth in financing realization," said CNAF President Director Ristiawan Suherman.