OJK Records Credit Distribution In Bali Grows 7 Percent

Illustration (Photo: Doc Antara)

JAKARTA - The Bali Province Financial Services Authority (OJK) recorded credit disbursement in the province until the second quarter of 2024 which reached Rp108.42 trillion.

This number grew by 7.19 percent (yoy) compared to the same position the previous year of IDR 101.15 trillion.

Head of OJK Bali Province Kristrianti Puji Rahayu said, based on its type of use, credit growth was still driven by an increase in nominal investment loans which increased by Rp5.58 trillion or grew 20.67 percent (yoy), while in June 2023 it grew 6.88 percent (yoy).

"The high growth in investment credit illustrates the increasing public confidence in the economic condition in Bali," he said, quoted by ANTARA, Friday, August 23.

Based on its sector, lending is dominated by the Non-Business Field (consumptive) sector of 34.68 percent and the Large and Retail Trade sectors of 30.33 percent.

Kristrianti added that credit growth was contributed by an increase in nominal distribution in the Non-Business Field Credit Recipient sector which increased by IDR 1.75 trillion (growing 4.99 percent yoy) as well as the Large and Retail Trade sector of IDR 1.43 trillion (growing 4.67 percent yoy).

Meanwhile, based on the debtor category, 52.92 percent of credit in Bali is distributed to MSME players with a growth of 7.67 percent yoy (June 2023: 5.33 percent yoy).

On the other hand, related to the collection of Third Party Funds (DPK) it reached Rp182.21 trillion and continued the double-digit growth record, namely 18.29 percent yoy, although it grew sloping compared to the same position the previous year of 24.02 percent yoy.

"Based on the type, the increase in DPK compared to June 2023 was supported by a nominal increase in Savings of Rp. 16.03 trillion," said Kristrianti.

His party assessed that the performance of the Financial Services Industry (IJK) in Bali Province in the position of June 2024 remained solid and maintained stable, supported by strong capital, stable liquidity conditions, and maintained risk profiles.

"The performance of the financial services industry supports the economic development of Bali Province which grew by 5.36 percent yoy in the second quarter of 2024. In addition, Bali's economic growth rate was higher than the national growth of 5.05 percent and put Bali in the 7th highest position nationally," he said.