OJK Says Central Kalimantan Financial Services Sector Grows Positively

Illustration (Photo: Doc. Antara)

PALANGKA RAYA - The Central Kalimantan Financial Services Authority (OJK) assesses that the condition of the financial services sector in the local province so far remains strong and maintained with positive growth.

"This can be seen both in terms of banking growth or activity, non-bank financial industry and capital market in the midst of global economic dynamics," said Central Kalimantan OJK Head Otto Fitriandy as quoted by ANTARA, Monday, January 22.

In the banking industry, the performance of commercial banks, both conventional and sharia, experienced high growth, as of November 2023, Commercial Bank Assets in Central Kalimantan grew by 15.08 percent (yoy).

Third Party Funds (DPK) increased by 14.74 percent (yoy) and Credit increased by 9.02 percent (yoy) with a non-performing loan rate of 1.47 percent.

Commercial bank loans are dominated by Consumption Loans which have a credit portion of IDR 17.88 trillion with the five largest economic sector loans, namely agriculture, hunting, and forestry, for the ownership of household equipment, large and retail trade, for residential ownership, and the manufacturing industry.

Meanwhile, the five largest regencies/cities of lending in Central Kalimantan are in Palangka Raya, East Kotawaringin, West Kotawaringin, Kapuas and North Barito.

The distribution of commercial bank loans as of November 2023 was dominated by the non-MSME sector amounting to Rp29.72 trillion.

OJK stated that the financial services sector in Central Kalimantan has considerable potential to increase lending through a cultivation development center in the agricultural sector, food security to the fisheries sector.

Because his party together with local governments through the Regional Financial Access Acceleration Team always works together to create priority sector clusters with the support of financial service institutions to improve community welfare.

In addition, OJK also continues to increase financial literacy and inclusion throughout the 3T area, namely lagging behind, leading and outermost.

In order to support this, the Central Kalimantan OJK cooperates with the Illegal Financial Activity Eradication Task Force (Satgas Pasti), which has duties, including preventing business activities without permits in the financial services sector, and carrying out handling business activities without permits in the financial services sector.

"This is an effort to increase awareness and education to the public regarding illegal financial activities that the community should avoid," he said.