Diverse Performance of Investment Financing in the Multifinance Sector at the Start of 2026
Several multifinance companies recorded diverse investment financing performance in early 2026, amid ongoing pressures from global economic conditions.
The latest data from the Financial Services Authority (OJK) shows that the multifinance industry’s investment financing reached Rp 167.92 trillion in February 2026, down 2.89% year-on-year (YoY). The investment financing portion stood at 32.79% of the total multifinance financing portfolio.
For instance, PT CIMB Niaga Auto Finance (CNAF) reported investment financing receivables of Rp 821 billion in the first quarter of 2026. This figure grew 3% YoY, though not aggressively.
“This puts pressure on consumer purchasing power, potentially constraining business expansion and resulting in non-aggressive growth in investment financing disbursement,” Ristiawan told Kontan on Tuesday (21/4/2026).
Nevertheless, CNAF projects that investment financing still has opportunities for positive growth throughout 2026, albeit with more selective and targeted schemes.
PT BRI Multifinance Indonesia (BRI Finance) echoed similar sentiments. The company stated that investment financing disbursement is currently proceeding more selectively.
“The company’s investment financing shows measured adjustments in line with market dynamics and a more selective portfolio management strategy,” it said to Kontan on Monday (20/4/2026).
It added that this segment still contributes significantly, at 34.32% to the total financing portfolio as of March 2026. According to the company, global conditions such as geopolitical tensions in the Middle East are also affecting financing demand.
“These conditions are prompting businesses to be more cautious in expansions, thus making investment financing demand more selective,” it said.
BRI Finance projects that investment financing will continue to grow, albeit moderately.
“Our projection is that investment financing will grow moderately as business confidence begins to recover and market conditions stabilise, although still overshadowed by geopolitical risks and commodity price volatility,” it added.
Meanwhile, PT Adira Dinamika Multi Finance Tbk (Adira Finance) recorded investment financing disbursement of Rp 1.8 trillion in the first quarter of 2026, with double-digit YoY growth.
Adira Finance’s Chief Financial Officer, Sylvanus Gani, said that this investment financing contributes around 15% to the company’s total portfolio.
“In terms of composition, investment financing contributes about 15% to the company’s total portfolio,” Gani told Kontan on Tuesday (21/4/2026).
Gani assessed that the slowdown in industry investment financing is inseparable from businesses’ caution.
“Businesses tend to be more selective in capital expenditure, in line with efforts to improve operational efficiency and pressures on production costs,” he explained.
He added that investment decisions are currently highly dependent on market demand prospects and the ability to maintain profitability.
“If purchasing power weakens and market demand slows, businesses usually become more cautious in adding capacity or purchasing new productive assets,” he said.
Meanwhile, PT Wahana Ottomitra Multiartha Tbk (WOM Finance) recorded relatively stable investment financing in the first quarter of 2026 at around Rp 130 billion.
WOM Finance Director Cincin Lisa Hadi said that this investment financing contributes more than 30% to the company’s total financing portfolio.
“The company’s investment financing trend in the first quarter of 2026 remains relatively stable, with an average value of Rp 130 billion and a portion of more than 30% of overall financing,” she told Kontan on Tuesday (21/4/2026).
She added that challenges in investment financing disbursement stem from selective consumer purchasing power, financing quality, increased credit risk, and market demand fluctuations.
To address this, WOM Finance is implementing a prudent strategy through strengthened credit analysis, portfolio diversification, and focus on financing with solid fundamentals and measurable cash flows.