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Today's Headlines Budi Gunadi Sadikin

  • Lower Net Interest Margin; Indonesian Banks' Shares Plunge

    Shares of Indonesian banks were hit hard on Friday (19/02) after Indonesia's Financial Services Authority (OJK) announced its plan to push state-owned banks net interest margin (NIM) to the range of 3 to 4 percent in a bid to lower the country's lending rates, hence boosting credit growth. NIM is the difference between interest income generated by banks and the amount of interest paid out to the lenders. A higher NIM implies that banks are more profitable. Currently, the average NIM for Indonesia's state-owned banks is between 7 - 8 percent.

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  • Financial Services Authority (OJK) Releases Sustainable Finance Roadmap

    Indonesia's Financial Services Authority (OJK), the government agency that regulates and supervises the financial services sector of Indonesia, released a roadmap for the development of the sustainable finance sector, both for the middle-long period (2015-2019) and the long-term period (2015-2024). OJK Chairman Muliaman Hadad explained that these roadmaps, made in cooperation with the Ministry of Forestry and Environment, contain guidelines and directions for the development of sustainable finance in Indonesia.

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  • Banking Industry Indonesia: Bank Mandiri Can Open Branches in Malaysia

    State-controlled Bank Mandiri, the leading bank in Indonesia in terms of asset size, will be allowed to open 20 branches in Malaysia after financial authorities in Indonesia and Malaysia signed an agreement. Although Muliaman D Hadad, Chief Commissioner at Indonesia’s Financial Services Authority (OJK), said that the government of Malaysia still needs to ratify the agreement, it is expected that Bank Mandiri will be able to open its Malaysian branches before the end of the year.

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