Jakarta, 10 August 2023 - In order to support the government's and the Financial Services Authority’s (OJK) programs related to financial inclusion and strengthening the agribusiness sector, PT Bank Jago Tbk provided financial literacy education to platforms operating in the fisheries industry. This financial literacy education aims to enhance the understanding of fisheries sector entrepreneurs in managing finances, calculating working capital needs, and mitigating emerging risks to sustain their businesses.
Director of Bank Jago Sonny Christian Joseph stated that as a technology-based bank, we are committed to enhance the growth opportunities for micro, small, and medium enterprises (MSMEs) through solutions that focus on their lives.
"Through this training, Bank Jago helps address the challenges faced by pond operators. So they learn how to build sustainable businesses by understanding how to manage finances, calculate working capital needs, and mitigate emerging risks in their business development," said Sonny during a training session held at Bank Jago's Head Office recently.
With the theme "Strengthening Financial Understanding to Build Sustainable Businesses", this training was provided to the eFishery ecosystem, an aquaculture intelligence company that accommodates fish farmers by providing production facilities and marketing harvested products.
This training also included basic financial management, such as creating financial statements, managing cash flows, working capital analysis, price and profit calculations, basic credit principles, and business portfolio management. Sonny continued that through this training, entrepreneurs can also measure and monitor the performance of their financial portfolios.
"From the beginning, Bank Jago has provided banking products and services that focus on customers' lives. Collaboration with ecosystem players is our effort to provide as much added value as possible to our partners and customers," he said.
For information, Bank Jago provides sharia loans and financing through collaborations with various partners, such as digital ecosystems and platforms, financing companies, and other financial institutions. Through this strategy, Bank Jago successfully disbursed sharia loans and financing amounting to IDR 11.2 trillion in the second quarter of 2023, growing 54% compared to the realization in the second quarter of 2022, which was IDR 7.3 trillion.
In improving loan disbursement, Bank Jago maintains a gross non-performing loan (NPL) ratio at 1.2% or below the banking industry average of 2.5%.
