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State-Owned Banks project up to 10% in credit growth for 2022
State-owned banks are optimistic about the economic recovery, with a number of banks projecting credit growth to reach 10% by 2022. Both BRI and BTN estimate that credit distribution in 2022 to have year-on-year growth at 8-10%. BRI’s lending focus
OJK launches roadmap for BPR industry development
OJK has officially launched a Roadmap for Indonesian Banking Development (RP2I) 2021 – 2025 for the Rural Banks (BPR) and Sharia Rural Banks (BPRS). BPRs and BPRS are expected to unlock synergies from the wider financial services ecosystem, and increase
OJK drafts regulation to limit institutional lenders to fintechs
OJK is drafting regulations that will limit institutional lenders from funding fintech peer-to-peer lenders. OJK’s new regulation involves setting distinct criteria for institutional lenders, specifically for overseas capital. For local capital, a bank is able to fund up to 25%
Bank Neo Commerce and Nikel offer financing to the Indonesian healthcare sector
December 2, 2021 – Bank Neo Commerce (BNC), an Indonesian digital bank and Nikel, an embedded lending technology company, have partnered to offer affordable financing to the Indonesian healthcare sector during the COVID-19 pandemic. One of the projects is providing
Indonesia needs IDR 3,779 trillion to achieve NDC climate targets
Deputy Minister of Finance, Suahasil Nazara, shared that the estimated cumulative cost needed by Indonesia to mitigate climate change and meet its national targets (NDC) is at US$ 265.5 billion (IDR 3,779 trillion) by 2030. According to NDC, Indonesia is
GoTo marketplace reaches IDR 420 trillion in transactions
GoTo, a joint entity of Gojek and Tokopedia, recorded total transactions of US$ 29.4 billion (IDR 420 trillion) for 2021. GoTo CEO, Andre Soelistyo, illustrates that Gojek and Tokopedia seek to build a digital bridge (marketplace) for micro, small and
The rise in digital economy for the region, but Indonesia faces deficit in digital talent
In a recent report by Google, Temasek and Bain, it is estimated that Southeast Asia’s digital economy will be at US$146 billion (IDR 2,080 trillion) by 2025. However, there are three challenges to overcome: digital talent deficit, data regulation, and
Fintech credit distribution to MSMEs sector increases
OJK noted that the distribution of credit by fintech lenders to the productive sector continues to increase, reaching US$ 8 billion (IDR 114.76 trillion) as of October, and 43.6% of the total disbursements are channeled to productive sectors. In 2020,
OJK plans to limit institutional lenders in fintech lending
Institutional lenders (sometimes referred as ‘super lenders’) currently dominate in providing capital for fintech lending. Based on OJK data in September 2021, retail investors contributed 22.8% of outstanding loans with a value of US$ 430 million (IDR 6.14 trillion). However,
Latest report on Indonesia digital economy
Google, Temasek, and Bain released a report estimating Indonesia’s digital economy’s value at US$ 70 billion (IDR 997 trillion) for this year, a 49% year-on-year growth. The report also estimates the digital economy to reach US$ 146 billion (IDR 2.08