JAKARTA - The performance of national banking intermediation which continues to grow amid global economic pressures is considered to show that the fundamentals of the Indonesian banking sector are still quite strong, especially in the State-Owned Bank Group (Himbara).
Financial Consultant and Planner Elvi Diana said that the ability of state-owned enterprises (BUMN) banks to maintain credit growth and profitability is inseparable from a strong business structure, state support, and a level of public confidence that remains maintained amid global economic uncertainty.
As noted by the Financial Services Authority (OJK), bank credit grew 9.49 percent year on year (yoy) to Rp8,659.05 trillion as of March 2026, up from February 2026 which grew 9.37 percent yoy.
According to Elvi, the dominance of cheap funds or current account saving accounts (CASA) is one of the factors that support the efficiency of banking fund costs, so that the net interest margin is maintained despite the pressure of global interest rates.
He assessed that this condition is in line with the theory of bank efficiency structure put forward by Demsetz (1973), namely financial institutions with high operational efficiency tend to have better profitability and durability in crisis situations and economic uncertainty.
He gave an example, the strength of PT Bank Rakyat Indonesia (Persero) Tbk in the micro, small and medium business (MSMEs) sector also supports the growth of intermediation in the midst of global turmoil.
BRI recorded net interest income (NII) of Rp40.155 trillion in the first quarter of 2026 or grew 11.9 percent (yoy).
According to Elvi, this achievement shows that BRI's intermediation function is still running very well in the midst of global volatility.
He also highlighted the importance of diversifying the credit portfolio in maintaining the quality of banking assets under control.
With the wider spread of financing, the risk of credit concentration is considered to be minimized.
On the other hand, the digital transformation carried out by state-owned banks is considered to have increased the efficiency of services while expanding financial inclusion.
Elvi argues that digitization strengthens the bank's ability to collect public funds and reduce operating costs.
He added that the high level of public confidence in Himbara member banks was also a factor supporting the stability of the national financial system amid global uncertainty.
He is also optimistic that the national banking sector still has room for positive growth throughout 2026 as long as domestic macroeconomic stability is maintained and productive credit demand continues to increase.
"As long as domestic consumption, the MSME sector and government investment continue, state-owned banks such as BRI still have the potential to become the main engine of national banking intermediation growth," said Elvi.
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