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Pegadaian's profits soar 37.9% in H1 2024, reaching Rp 2.9 trillion
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(Courtesy of Pegadaian)
P
T Pegadaian delivered a strong performance in the first half of 2024, recording net profits of Rp 2.9 trillion (US$177.56 million), a 37.90 percent increase from Rp 2.1 trillion in the same period last year.
This growth was supported by a 35.86 percent year-on-year rise in revenue, which surged from Rp 11.83 trillion in June 2023 to Rp 16.08 trillion in June 2024. Pegadaian’s assets also saw a 13.3 percent increase, reaching Rp 93.6 trillion compared to Rp 82.6 trillion in December 2023.
President Director Damar Latri Setiawan expressed gratitude for the positive results, attributing them to the hard work of Pegadaian’s staff, excellent service to customers and support from the ultra-micro holding companies BRI and PNM. He also thanked customers for their trust in Pegadaian's products and services.
The company’s improved performance was also driven by a 9.14 percent increase in the number of customers, growing from 22.8 million in June 2023 to 24.9 million in June 2024. Outstanding loans rose by 22.5 percent from Rp 62.9 trillion in June 2023 to Rp 77 trillion in June 2024, while Non-Performing Loans (NPL) were reduced to 1.01 percent from 1.5 percent the previous year.
The presence of Pegadaian, PNM and BRI as part of the Ultra Micro Holding has revitalized Indonesia’s economy, especially for small and medium enterprises (SMEs). The percentage of SMEs lacking access to formal funding has dropped significantly to 17 percent in 2023 from 66.7 percent in 2021.
In line with these achievements, Pegadaian is committed to continuing its provision of top-tier products and services and achieving excellent performance. Beyond pawn and SME financing, Pegadaian is expanding its gold ecosystem to support the company's vision and contribute to the government’s goal of achieving Golden Indonesia 2025.
"We aim to meet community needs not just through pawning, but also through financing and investment products," Damar added. "As a market leader in the pawning industry, we strive to enhance and develop our business and digital capabilities to realize our vision as Indonesia's most valuable financial company and a top choice for financial inclusion."
