OJK Calls the Performance of Loans, Leasing, to Insurance 'Kinclong' as of July 2022

OJK Sebut Kinerja Pinjol, Leasing, hingga Asuransi 'Kinclong' per Juli 2022
OJK Sebut Kinerja Pinjol, Leasing, hingga Asuransi 'Kinclong' per Juli 2022

OJK noted that insurance, leasing, and co-financing financial technology (pinjol) still recorded growth as of July 2022. 

The Financial Services Authority (OJK) noted a positive trend from financial service institutions within the non-bank financial industry (IKNB), ranging from insurance to joint financing financial technology (P2P lending) aka online loans (pinjol).

Chairman of the OJK Non-Bank Financial Industry Supervisory Board (IKNB), Ogi Prastomiyono, explained that the life insurance and general insurance industries recorded a compact growth in premium collection, increasing by Rp. 13.2 trillion and Rp. 8.6 trillion, respectively.

"In aggregate the insurance industry is still growing well, because there is still growth in the midst of the current economic conditions," he said, Monday (5/9/2022). 

Turning to the finance or leasing , the good news came from the improvement in the industry's non-performing financing (NPF) ratio to the level of 2.72 percent. The current NPF ratio is better than June 2022 at the level of 2.8 percent and closing the book at the end of last year at the level of 3.53 percent.

Meanwhile, the nominal outstanding or financing receivables worth IDR 385 trillion as of July 2022 recorded an annual growth of 7.1 percent yoy and 5.6 percent ytd compared to December 2021. This achievement also continues the trend of increasing every month since the end of last year, wherever it is today. grew 0.7 percent mtm compared to June 2022.

Meanwhile, the pension fund sector recorded an asset growth of 3.86 percent yoy, with asset values ​​reaching Rp336.14 trillion. 

Lastly, the P2P lending fintech industry, aka lending, as of July 2022, still maintains the trend of outstanding loan growth, which currently has grown by 88.8 percent yoy to Rp46 trillion, and an increase of Rp1.14 trillion compared to last month.

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