The Central Java Financial Services Authority (OJK) reported today that the financial sector in the region remains stable and resilient as of September 2024. Key factors contributing to this stability include adequate liquidity support and effective risk management.
In its banking development report, Third Party Funds (DPK) increased by 6.66% year-on-year, reaching IDR 468.15 trillion. Meanwhile, credit disbursed grew by 5.35%, totaling IDR 422.25 trillion, with a maintained credit risk ratio of 5.68%.
General banks in Central Java also exhibited positive growth, with DPK recorded at IDR 428.49 trillion, reflecting a year-on-year growth of 7.00%. Total credit reached IDR 384.07 trillion, marking a 5.91% increase, while the Non-Performing Loan (NPL) ratio remained at 4.71%. The Loan to Deposit Ratio (LDR) stands at 89.63%.
Meanwhile, Rural Banks (BPR/S) reported a DPK growth of 3.18%, amounting to IDR 39.66 trillion, with total credit slightly increasing by 0.03% to IDR 38.19 trillion.
In the Islamic banking sector, DPK rose by 11.49% to IDR 36.49 trillion, with financing growing by 13.97% to IDR 32.02 trillion, although the Non-Performing Financing (NPF) ratio was noted at 5.38%.
The Non-Bank Financial Industry (IKNB) also showed progress, with financing companies recording a receivables increase of 8.69% to IDR 34.29 trillion, despite a 9.20% decline in venture capital distribution. Pension fund assets grew by 4.57% to IDR 6.87 trillion.
Peer-to-peer lending in fintech saw significant growth, with outstanding loans reaching IDR 5.95 trillion, up 41.43% year-on-year. Additionally, guarantee companies reported a 13.88% asset growth, with total guarantees distributed reaching IDR 4.3 trillion.
In the capital market, transactions were dominated by individual investors, with the number of stock SID reaching 709,309 and transaction value at IDR 12.33 trillion. There was also an increase in mutual fund SID and government securities (SBN) by 16.00% and 20.75%, respectively.
The OJK of Central Java recorded 999 complaints via the Consumer Protection Portal by October 2024, with the banking sector accounting for the majority at 570 complaints. To mitigate complaints, OJK continues to educate the public, with a total of 53 participants involved.