OJK Optimistic Of Loans Growing 7.5 Percent This Year, TPF Still Double Digit

Chairman of the OJK Board of Commissioners Wimboh Santoso (Photo: OJK Youtube screenshot)

JAKARTA - The Financial Services Authority (OJK) estimates that the 2022 financial industry, especially the banking sector, will be more enthusiastic this year.

Chairman of the OJK Board of Commissioners, Wimboh Santoso, said that this was supported by optimism that Indonesia's economic growth was believed to be able to reach the level of 5.2 percent in 2022.

"Taking into account various policy directions as well as our economic projection of around 5.2 percent in 2022, we project this to be better than last year so that we estimate credit will grow by around 7.5 percent," he said online in the agenda of the Financial Services Industry Annual Meeting. 2022, Thursday, January 20.

According to Wimboh, banking liquidity is also quite strong with an estimated increase of up to double digits.

"Third party funds (DPK) will grow in the range of 10 percent," he said.

For information, the large number of deposits piling up in banks can be a less encouraging indicator. The reason is, the larger the stored funds means that economic activity is not moving too much because people prefer to deposit their money rather than use it for shopping.

In addition, jumbo deposits can be a threat to banking business actors because they have to pay interest costs to customers.

"We estimate that the collection of public funds in the capital market will be in the ring between Rp. 125 trillion to Rp. 175 trillion," continued Wimboh.

For information, throughout 2021 in the banking industry, the majority of the main credit sectors recorded an increase, especially in the manufacturing and household sectors of Rp. 24.9 trillion and Rp. 9.1 trillion, respectively. Meanwhile, DPK recorded growth of 10.48 percent year-on-year (yoy) or 9.98 percent year-to-date (ytd).