BCA Paylater Outstanding Doubled

Tuesday, 19 Nov 2024

By putri@insightinnews.com The outstanding buy now pay later (BNPL) financing of PT Bank Central Asia Tbk (BBCA) continues to experience significant growth through the third quarter of 2024. This growth is accompanied by well-maintained credit risk. Hera F. Haryn, EVP of Corporate Communication & Social Responsibility at BCA, stated that as of September 2024, the company's outstanding paylater services have surpassed Rp 300 billion, reflecting a year-to-date increase of 169 percent. "This indicates a positive signal; people are taking advantage of this facility," she remarked during the Indonesia Knowledge Forum 2024 event in Jakarta on November 12, 2024. She noted that this outstanding figure is a commendable achievement, especially since the paylater service available on the myBCA application was only launched at the end of 2023. Hera explained that BCA's paylater service is primarily utilized by customers seeking quick financing with smaller amounts compared to other consumer financing options. "The paylater service is very beneficial for both consumers and others," she added. Furthermore, she highlighted that the growth rate of the company's outstanding paylater services is accompanied by stable credit quality, with the non-performing loan (NPL) ratio for BCA's paylater services remaining below 2 percent. "We are grateful to have debtors who utilize the paylater service," she expressed. BCA remains optimistic that the performance of its paylater financing will continue to grow positively until the end of 2024. This outlook aligns with the ongoing growth trend in the banking industry's paylater sector. According to data from the Financial Services Authority (OJK), the outstanding credit disbursed by banks reached Rp 19.81 trillion as of September 2024, representing a year-on-year growth of 46.42 percent.

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