OJK: 108 Banks Revise Credit Growth Projection

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  • Otoritas Jasa Keuangan. TEMPO/Tony Hartawan

    Otoritas Jasa Keuangan. TEMPO/Tony Hartawan

    TEMPO.CO, Jakarta - The Financial Services Authority (OJK) reported that the impact of the ongoing economic slowdown is getting apparent and has affected the country’s financial industries.

    OJK Commissioner Board Chairman Muliaman Hadad said that at least 90 percent of banks in Indonesia have already revised the projection of their credit growths to OJK.

    "We have received reports of business plans from 108 out of 118 banks operating in Indonesia,” Muliaman said on Friday (24/7).

    He added that those 108 banks have revised their credit growths and the total of the drop in credit growth is around 2.67 percent, which is from 16-17 percent to 13-15 percent.  However, Muliaman claimed that banking industries in the country remains quite strong.