OJK Says Central Sulawesi Financial Sector Performance Until September 2024 Remains Stable

Illustration (Photo: Doc Antara)

JAKARTA - The Financial Services Authority (OJK) noted that the performance of the financial sector in Central Sulawesi Province (Sulteng) until September 2024 was maintained and stable with positive growth.

"The financial services industry (IJK) in the Central Sulawesi region until September 30 remains stable with positive performance, adequate liquidity and a maintained risk profile," said Head of OJK Central Sulawesi Triyono Raharjo as reported by ANTARA, Monday, December 2.

He explained that the development of the banking industry, non-bank financial industry and capital markets in Central Sulawesi still grew positively in line with sustainable educational and financial inclusion activities, as well as consumer protection.

OJK noted that at the position of September 30, 2024, all banking indicators experienced positive growth year on year (yoy) with the banking asset position recorded growth of 18.39 percent reaching IDR 73.58 trillion in September 2024, from IDR 62.15 trillion in September 2023.

Furthermore, he said, third party funds (DPK) also grew positively by 14.74 percent, from Rp31.42 trillion in September 2023 to Rp36.05 trillion in September 2024.

Meanwhile, bank credit grew by 23.30 percent, from IDR 46.44 trillion in September 2023 to IDR 57.26 trillion in September 2024 with non-performing loans (NPL) quality maintained at 1.48 percent.

He continued that the performance of Islamic banking also continued to increase with an asset value of IDR 3.36 trillion or grew by 17.07 percent.

"Meanwhile, sharia financing until September 2024, still shows a positive trend by growing by 15.95 percent to Rp2.99 trillion and collecting third party funds growing by 32.14 percent to Rp2.22 trillion," he said.

He said banks also continue to be committed to continuing to encourage micro, small and medium enterprises (MSMEs) that are manifested in increasing lending to MSMEs.

In September 2024, the position of lending to MSMEs was IDR 17.54 trillion or grew 14.49 percent with NPL still maintained at 2.56 percent or still below the five percent threshold.