DIGIVESTASI - Bank Indonesia (BI) reported that the banking sector in Indonesia received additional liquidity of IDR 255 trillion through the Macroprudential Liquidity Incentive Policy (KLM), with the majority of the benefits being enjoyed by state-owned banks. BI Deputy Governor, Juda Agung, revealed that state-owned banks received KLM incentives amounting to IDR 117 trillion, while private banks obtained IDR 109 trillion.

In addition, regional development banks (BPD) received liquidity amounting to IDR 24 trillion, and foreign banks received IDR 3.69 trillion. "Going forward, we will continue to promote and evaluate this policy, especially regarding the priority sectors," Juda stated in a press conference announcing the results of the August 2024 Monthly Board of Governors Meeting, Wednesday (August 21, 2024).

Juda explained that this liquidity injection has been one of the key factors in maintaining credit growth at a double-digit level throughout this year.

For your information, this liquidity incentive is provided to banks that actively extend credit to priority sectors such as mineral and coal downstreaming, agriculture, plantations, tourism, housing, MSMEs, ultra-micro enterprises, and green finance.

According to BI data, credit growth as of July 2024 reached 12.4% year-on-year (yoy), supported by strong demand from the corporate sector. In the same period, household credit demand also showed an increase, particularly in mortgage loans (KPR).

Sectorally, high credit growth was observed across most economic sectors, including the electricity, gas, water, and transportation industries.

Based on usage categories, credit growth was supported by investment, which grew by 15.2% yoy, working capital by 11.6% yoy, and consumption by 10.98% yoy.

BI Governor Perry Warjiyo also mentioned that financing from sharia banks grew below the industry average, at 11.75% yoy. Meanwhile, MSME credit has not shown significant strengthening, with growth at only 5.16% yoy.

As for the non-performing loan (NPL) ratio, the gross NPL as of July 2024 was recorded at 2.26%, and the net NPL was at 0.78%.

"Going forward, BI will continue to strengthen policy synergy with the Financial System Stability Committee (KSSK) and the Financial Services Authority (OJK) in efforts to mitigate risks that could threaten financial system stability," he emphasized.

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