TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
IIF achieves impressive 75.6% net profit growth in H1 2024
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
P
T Indonesia Infrastructure Finance (IIF) has announced a substantial increase in net profit in the first half of 2024 to Rp 67.1 billion (US$4.1 million), marking year-on-year (yoy) growth of 75.6 percent from Rp 38.2 billion in the first half of 2023.
The achievement was primarily driven by a 7.5 percent increase in the company's net interest income (NII) to Rp 192.8 billion in the first half of 2024, up from Rp 179.4 billion in 2023.
IIF president director Reynaldi Hermansjah said the positive performance in the first half of 2024 demonstrated the company’s commitment to being a catalyst for Indonesia’s sustainable ecosystem by providing innovative financing solutions and advisory services in infrastructure development.
In addition to NII growth, the company also booked fee-based income growth of 83.7 percent to Rp 62.7 billion, while its advisory service revenue increased 71.9 percent to Rp 12.7 billion from Rp 7.4 billion over the same period last year.
The company recorded investment assets worth Rp 13.1 trillion led by the renewable energy sector with 24 percent, followed by telecommunications and information with 22 percent and toll roads with 13 percent.
As of June 30, 2024, IIF had booked a total of Rp 1.6 trillion in new investment commitments across diverse sectors including water infrastructure, gas, toll roads and regional infrastructure.
Also during the first half of 2024, IIF achieved a domestic credit rating of idAAA from Pefindo and AAA(idn) from Fitch Ratings. It also earned a BBB global investment grade from Fitch Ratings and a global ESG rating of 2 from Sustainable Fitch.
Several awards
In July 2024, IIF gained recognition through several international awards, including Innovative Deal of the Year-Indonesia and Sustainability Bond of the Year-Indonesia at the Asian Banking Finance (ABF) Awards 2024. It was also granted Renewable Energy Deal of the Year and Hydro & Water Deal of the Year at the Asset Triple A Sustainable Infrastructure Awards 2024.
These awards testify to IIF’s commitment to supporting sustainable infrastructure development in Indonesia.
