CNAF Maintains Conservative Strategy in 2026 Financing Targets

Cautious Approach Amid Market Uncertainty

CIMB Niaga Auto Finance (CNAF), a major player in Indonesia's multifinance industry, has adopted a conservative strategy for 2026 by setting a financing target of Rp 9.6 trillion. This figure represents a marginal increase from the Rp 9.5 trillion achieved in the previous year, indicating a cautious optimism about market recovery.

Economic Context and Market Challenges

The decision comes against the backdrop of weak consumer purchasing power, which is expected to continue affecting the multifinance industry throughout 2026. Ristiawan Suherman, President Director of CNAF, noted that the automotive market, particularly the passenger vehicle segment, is yet to return to its peak sales levels. This market condition has prompted CNAF to be prudent in setting its growth targets.

Strategic Considerations

The conservative target reflects CNAF's commitment to maintaining financial stability while navigating the challenging market conditions. By setting a modest growth target, the company aims to balance its business expansion with risk management. This approach is particularly relevant given the current economic uncertainties and their potential impact on the multifinance sector.

Implications for the Multifinance Industry

CNAF's conservative financing target for 2026 is indicative of the broader industry's cautious stance. The multifinance sector is likely to experience a period of consolidation, with companies prioritizing risk management and stable growth over aggressive expansion. This trend may lead to a more stable and sustainable industry landscape in the long term.