Immediately Ended, OJK Recorded A Decrease In Covid-19 Restructuring Credit To IDR 326.15 Trillion

JAKARTA - The Financial Services Authority (OJK) recorded a decrease in Covid-19 restructuring credit to IDR 326.15 trillion.

"The ongoing economic recovery in the real sector has pushed the decline in Covid-19 restructuring loans by Rp12.97 trillion to Rp326.15 trillion, down from the previous month which amounted to Rp339.12 trillion, with the number of customers falling by 10 thousand to 1.46 million customers," said Chief Executive of Banking Supervision of the Financial Services Authority (OJK) Dian Ediana Rae at the OJK Board of Commissioners Meeting Press Conference. September, Monday 9 October.

He explained that the restructuring of Covid-19 from time to time showed an encouraging direction. Judging from the Loan at Risk (LAR) of banks as of August 2023, it was recorded at 12.55 percent.

"This is encouraging because it was close to LAR before the pandemic which was in the range of 10 percent," added Dian.

To mitigate the possibility of losses due to the loss of credit, he said, when the relaxation ends, his party and banks have carried out various anticipations.

"If you look at the current data from the total credit of IDR 326 trillion, the bank has formed an adequate backup which is projected to mitigate the potential for restructuring credit which will become a bad credit or non-performing loan (NPL)," explained Dian.

Thus he ensured that the situation would not significantly affect the bank's performance. In addition, continued Dian, this also reflects that banks have anticipated the end of the restructuring period either through monitoring debtors or instigating losses.

"As a result, this is done in parallel by banks and they know very well the position of the people and what to do later in March, which we predict will have a minimal impact," concluded Dian.