OJK says economy strengthens as bank lending rises 9%

TEMPO.CO, Jakarta – The Financial Services Authority (OJK) The meeting of the Board of Commissioners (RDK) in May 2022 noted that the stability in the financial sector. The intermediary functions of financial services institutions continue to improve and contribute to the continued recovery of the national economy amid growing global uncertainty.

One of the contributors was bank credit in April, which rose 9.1% (year-on-year), a significant increase from March’s 6.67% year-on-year.

“It shows that the economy is recovering and shows how banks’ support for the national economic recovery is growing,” the official said. OJK said in a statement on Tuesday, May 31.

All debtor categories recorded credit growth, especially MSMEs and retail. Credit growth was also driven by increases in working capital, investment and consumer loans. By sector, mining and manufacturing loans recorded the largest monthly increase at Rp 21.5 trillion and Rp 20.8 trillion, respectively.

Meanwhile, Third Party Funds (TPF) rose 10.11% (yoy) or 0.08% (ytd). In the capital market, as of May 24, 2022, there have been 79 public offerings by issuers with total proceeds of Rs 100.1 trillion.

The OJK also noted that the risk profile of financial services institutions in April 2022 was relatively well maintained with a gross non-performing loan (NPL) ratio of banks of 3.00% and net NPLs of 0.83%. At the same time, the non-performing financing rate of leasing companies stood at 2.70%.

MOHAMED HENDARTYO

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