Recovery From the Pandemic: Bank Credit Grew 11.35% at the End of 2022

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Viva Budy Kusnandar 10/02/2023 16:40 WIB

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Indonesia's Financial Services Authority (OJK) reported that bank credit grew by 11.35% year-on-year (yoy) in December 2022. This growth rate has returned to pre-pandemic levels.

National Banking Credit Value and Growth (January 2020 – December 2022)

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Recovery From the Pandemic: Bank Credit Grew 11.35% at the End of 2022

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National Banking Credit Value and Growth (January 2020 – December 2022)

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The Financial Services Authority (OJK) reported that in December 2022, bank credit disbursement grew by 11.35% year-on-year (yoy).

Therefore, based on OJK data from December 2021, the value of bank credit at the end of 2022 reached approximately Rp6.42 quadrillion.

This growth was driven by working capital credit, which grew by 12.17% (yoy), and corporate credit, which grew by 15.44% (yoy).

These figures indicate that by December 2022, bank credit had recovered from the impact of the pandemic, as its growth had returned to pre-pandemic levels, as shown in the graph.

Bank credit growth slowed at the beginning of the Covid-19 pandemic, coinciding with the national economic contraction in 2020. However, the value of bank credit has shown a growth trend over the past four years.

National bank credit growth has also been accompanied by improved asset quality, driven by a decrease in credit risk supported by strong liquidity and capitalization.

This is reflected in the gross non-performing loan (NPL) ratio, which fell to 2.44% in December 2022, compared to 3% in December 2021. This banking NPL ratio is the lowest since the start of the pandemic.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."