(MENAFNEditorial)
SURABAYA February 26 2015—East Java provincial government asked the Financial Services Authority (OJK) Regional 3 to boost the capacity of microfinance institutions so that the high growth of banking in the province would not threaten the economy.
East Java Governor Soekarwo said the high banking growth should be also enjoyed by the low-income people. "OJK should play a major role so that the benefit of the financial services is equally acceptable" he said Wednesday (2/25/2015).
He added that the fair financial institution should be favorable to the community. "Don’t let the financial institutions become predators. It should become a facilitator for people instead."
In 2014 the business volume market share particularly banks in East Java reached 7% of the total national. Meanwhile the growth in assets third-party funds (DPK) and loans reached 13% 14.14% and 13.15% respectively.
The growth in DPK and loans in East Java exceeded the average national growth which respectively reached 12 35% and 11.71%. Meanwhile the loan to deposit ratio (LDR) in East Java reached 90.55%.
Meanwhile the growth of non-performing loans in the province was only 1.9% well below the specified threshold at 5%. Read more...
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