The OJK expressed optimism on Friday that "strong banking capital resilience" would help serve as a buffer against the impacts of a weakening rupiah, after unveiling the industry's loan growth figures in April.
A man jogs on June 12, 2019, along a bridge connecting Jakarta and Maju Beach in Pantai Indah Kapuk 2, built on an artificial island. (JP/Ricky Yudhistira)
The banking industry saw loan growth approaching double-digits in April, even as growth remained sluggish in the micro, small and medium enterprise (MSME) segment, according to the Financial Services Authority (OJK).The authority reported that overall bank credit grew 9.98 percent year-on-year (yoy) to Rp 8.7 quadrillion (US$482.6 billion) in April, slightly higher than the 9.49 percent increase recorded in March.
Investment credit registered the strongest growth among all categories at 19.48 percent, while working capital and consumer loans posted significantly lower growth at 6.04 percent and 6.13 percent, respectively.
In the debtor categories, the corporate segment posted the highest growth at 15.51 percent yoy in April. On the other hand, MSME debtors saw a modest uptick from 0.12 percent in March to 0.16 percent in April.
