Banking Sector to Remain in the Green

The banking sector’s credit performance is expected to remain solid, which in turn will lead to profit and capital increase, further fueling optimism for this industry.

Fahmi Ahmad Burhan

24 Des 2023 - 22.40
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Banking Sector to Remain in the Green

Illustration of Banking Credit Disbursement. / Image by Freepik

Bisnis, JAKARTA — The domestic banking sector is expected to remain upwind despite various challenges of global uncertainty and high interest rate trends throughout 2023.

Dian Ediana Rae, chief executive for banking supervision at the Financial Services Authority (OJK), said at least until the third quarter of 2023, global economic indicators still show uncertainty in economic movements amid improving inflation rates towards pre-pandemic levels.

In addition, prolonged high interest rates may still be prevalent. “We are also still optimistic that double-digit credit growth will be achieved by December 2023,” said Dian in a special interview session on Friday (22/12/2023).

According to OJK data per October 2023, the intermediation function grew optimally, with annual credit growth recorded at 8.99% (year on year/yoy). Based on the purpose of credit provision, investment credit grew by 10.22% yoy, working capital credit grew by 8.10% yoy, and consumer credit grew by 9.28% yoy.

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Banking Sector to Remain in the Green

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