Bank Dividend Payout Exceedingly High: OJK Chairman’s Criticism

Mahendra Siregar, Chairman of the OJK’s Board of Commissioners, criticized the high dividend payout of banks. He is concerned that this may hinder digital innovation and transformation of the banking industry, though the OJK admits that Indonesia’s banking industry is resilient.

Rinaldi Azka

5 Jul 2023 - 21.45

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Bank Dividend Payout Exceedingly High: OJK Chairman’s Criticism

The Chairman of the OJK's Board of Commissioners Mahendra Siregar./Bisnis.com

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Bisnis, JAKARTA — The Financial Services Authority (OJK) believes that the dividend payout ratios of banks may be too high, potentially impeding their capacity for digital transformation and innovation.

Mahendra Siregar, Chairman of the OJK's Board of Commissioners, stated that banks should allocate more profits for risk management in light of emerging challenges.

"We observed that the dividend payout ratios of various banks seem to be too large, which may hinder the banks' capacity to invest in much-needed digital transformation and innovation," he mentioned during the Indonesian Bankers Association (IBI) General Meeting in Jakarta on Tuesday (7/4/2023).

Mahendra emphasized the urgency of investing in digitalized systems to strengthen the financial service industry against the threat of cyberattacks.

Cek Berita dan Artikel yang lain di Google News dan WA Channel

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