Leasing Industry’s Growth Hinges on Upcoming Election

The Leasing industry’s 2024 outlook is still overshadowed by uncertainties, including the OJK 22/2023 regulation and the upcoming general election. Despite the potential headwind, industry players remain optimistic.

Rika Anggraeni

18 Jan 2024 - 19.31
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Leasing Industry’s Growth Hinges on Upcoming Election

Illustration - GIIAS 2023 international automotive exhibition./Bisnis

Bisnis, JAKARTA — The leasing industry’s 2024 outlook is still overshadowed by uncertainties, including the Financial Services Authority (OJK) Regulation 22/2023 and the upcoming general election. Despite the potential headwind, industry players remain optimistic.

The OJK projects that the industry's performance will still experience double-digit asset growth, ranging from 13-16% year-on-year (YoY) by December 2024.

The total assets of the financing industry in the first quarter of 2024 are projected to grow in the range of 10–11% YoY. Despite considering market conditions, the Indonesian Financing Firms Association (APPI) has laid out three projections for the growth of financing companies' businesses for this year, 2024.

Chairman of APPI Suwandi Wiratno said for the first projection, APPI envisions the growth of the financing company industry to reach 10–12%. In the second projection, APPI is optimistic that the growth can reach 13–14%.

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Leasing Industry’s Growth Hinges on Upcoming Election

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