JAKARTA (TheInsiderStories) – After left PT Bank Rakyat Indonesia Tbk (IDX: BBRI), Kuswiyoto has appointed by State Own Enterprises ministry to lead pawnshop company PT Pegadaian. He replaced Sunarso, who now serves as vice president director of BBRI.
Gatot Trihargo, Deputy of Financial Services, Survey Services and Consulting Services at the ministry, expect Kuswiyoto could develop Pegadaian amid the tight competition in the pawnshop business.
Before heading to Pegadaian, Kuswiyoto was a director of BBRI since 2015 until the end of 2018. Earlier, he had also held the position of Head of the Jakarta 1 BBRI Regional Office in 2015.
In 2014-2015, Kuswiyoto had occupied the Head of the BBRI Makassar Regional Office. Kuswiyoto also served as Head of the Agribusiness Division of the BBRI Head Office in 2012-2014.
Previously, Sunarso has set a plan to transform Pegadaian businesses through G-Star Generation with 5G’s strategy — Grow Core, Grab New, Groom Talent, Gen-Z Tech and Great Culture. On April, 2, the financial company launched Digital Services and Pegadaian’s agent and started earning credit segment under Rp500,000 without interest.
In term of capital, Pegadaian’ capital has strong to finance the company’s program in the following years. Recently, the company has issued local bonds worth Rp3.5 trillion (US$255.47 million) with coupon rates in the range of 5.80 to 7.10 per cent with tenure of between 370 days to five years.
Pegadaian also issued Shariah Medium Terms Notes (MTN) worth Rp 500 billion with tenure of three years and coupon rate at 7.0 per cent. This year, Pegadaian still has additional plan to issue local bonds around Rp 2.5 trillion and Shariah MTN up to Rp 2 trillion for business expansion and debt refinancing.
In 2017, Pegadaian booked net profit of Rp2.51 trillion, incresed 13.72 per cent compared to previous year at Rp2.21 trillion, with total revenues reaching Rp10.52 trillion or up 8.53 per cent from Rp9.70 trillion in 2016.
Total outstanding loans stood at Rp36.88 trillion or rose 34.0 per cent from previous year of Rp35.47 trillion with total assets of Rp48.69 trillion in 2017.
The largest paw-shops in the country eyes 11.5 millions customers this year or adding 2 million customers from a year ago at 9.5 million, said senior official on Thursday (15/03).
To reach those targets, Pegadaian will implement digital service and expand the products.
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