Anomaly Detection in Banking Performance at the Year’s Start

The banking industry's credit performance in the Q1 2024 seems to be soaring, a departure from its usual limited growth during this period. However, both net interest margins (NIM) and bank profits faced pressure at the beginning of this year.

Fahmi Ahmad Burhan

26 Apr 2024 - 20.05

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Anomaly Detection in Banking Performance at the Year’s Start

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Bisnis, JAKARTA — The banking industry has reported robust credit growth performance in the Q1 2024, a departure from the sluggish trend typically observed in previous years at the beginning of the year.

According to Bank Indonesia (BI), banking credit distribution in March 2024, or the Q1 2024, surged by 12.4% year-on-year (YoY). This growth rate surpassed the previous month, February 2024, which saw a credit growth of 11.28% YoY.

Furthermore, credit growth in early 2024 outpaced that of the beginning of the previous year. In March 2023, banking credit growth stood at 9.93% YoY.

Senior Vice President at the Indonesian Banking Development Institute (LPPI) Trioksa Siahaan noted that traditionally, bank credit performance at the start of the year tends to be sluggish due to relatively low credit demand.

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Anomaly Detection in Banking Performance at the Year’s Start

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