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Pawnshop records Rp 2.5t in net profit in 2017
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The president director of state-owned pawnshop PT Pegadaian, Sunarso, (third right) speaks during a presentation of the pawnshop's annual report along with the company’s board of directors in Jakarta on March 14. (JP/roi)
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tate-owned pawnshop PT Pegadaian recorded Rp 2.5 trillion (US$182 million) in net profit in 2017, representing a 13.7 percent year-on-year (yoy) growth.
Pegadaian president director Sunarso said the service improvement and network expansion had contributed to the significant growth in the company’s profit.
The company saw outstanding loans (OSL) increase to 36.88 trillion and revenue increase to Rp 10.52 trillion in 2017.
“We plan to expand our number of customers to 11.1 million this year. We are optimistic that we can achieve the target due to the improvement in the digital service and the expansion of our network,” said Sunarso in a statement issued on Thursday.
He said that currently, Pegadaian’s customers were mostly in the productive ages (under 45 years old). He did not mention the current number of customers.
Meanwhile, this year, the company targeted Rp 45.4 trillion in OSL and Rp 12.5 trillion in revenue.
“The company will perform well this year in line with the estimated economic growth of 5.4 percent,” he said, adding that the company also targeted Rp 2.7 trillion in profit, which is a growth of 7.14 percent, compared to last year's figure.
Sunaraso said this year the company would begin digitalization, revitalizing warehouses and logistics and improving services to the customers at each outlet.
Meanwhile, this year business expansion includes increasing the number of agents, improving online service through a mobile app, diversifying products such as introducing interest-free pawn service and fintech-based service. (roi/bbn)
