Rancak Media JAKARTA — Indonesia’s Financial Services Authority (OJK) has reported the robust performance of the nation’s financial services sector, maintaining stability amidst dynamic global market conditions. Both the capital market and banking intermediation activities demonstrated positive growth at the start of 2026, as highlighted during the second 2026 Financial System Stability Committee (KSSK) meeting.
Friderica Widyasari Dewi, Chairman of the OJK Board of Commissioners, affirmed the solid performance of banking intermediation. By March 2026, banking credit surged by 9.49% year-on-year, reaching Rp8,659 trillion, primarily propelled by a substantial 20.85% growth in investment credit. This expansion underscores the banking sector’s active role in supporting economic activities and investment flows.
The quality of credit across the banking landscape remains well-maintained, evidenced by a gross Non-Performing Loan (NPL) ratio of 2.1% and a net NPL of 0.8%. Furthermore, the loan-at-risk (LAR) ratio stood at a controlled 8.9%, reflecting effective risk management. Concurrently, third-party funds (DPK) also experienced significant growth, increasing by 13.55% to a total of Rp10,230 trillion, highlighting strong public trust and savings within the system.
The banking sector’s resilience is further bolstered by a strong Capital Adequacy Ratio (CAR) of 25.09% and ample liquidity, as indicated by a healthy Loan-to-Deposit Ratio (LDR) of 84.64%. These figures collectively paint a picture of a stable and well-capitalized banking system, well-equipped to navigate potential market fluctuations and support economic expansion.
Beyond traditional banking, the non-banking financial sector also demonstrated impressive growth. The insurance industry’s assets reached Rp1,195.75 trillion, marking a 4.38% year-on-year increase, with Risk-Based Capital (RBC) levels significantly exceeding the regulatory threshold, ensuring strong solvency. Similarly, pension fund assets expanded robustly by 10.49% to Rp1,684.89 trillion, securing long-term financial stability for many beneficiaries.
In the financing industry, financing receivables totaled Rp514.09 trillion, showing a modest yet steady 0.61% annual growth, with associated risks remaining well under control. Notably, the online lending (pindar) segment experienced explosive growth, escalating by 26.25% to Rp101.03 trillion. While exhibiting strong expansion, this segment recorded a non-performing loan rate of 4.52%, indicating areas for careful monitoring amidst rapid adoption.
The OJK also highlighted the rapid evolution of the crypto asset ecosystem. By March 2026, the number of crypto investors in Indonesia had soared to 21.37 million, with a total transaction value reaching Rp22.24 trillion. This remarkable growth signifies a burgeoning interest in digital assets among the populace and the expanding scope of Indonesia’s financial landscape.
Indonesia’s domestic capital market experienced dynamic movements throughout the first quarter of 2026. As of March 31, 2026, the Composite Stock Price Index (IHSG) stood at 7,048.22, registering an 18.49% year-to-date correction. Despite this short-term pullback, the index still reflected a healthy 8.26% growth on an annual basis, demonstrating underlying strength and long-term potential.
Entering May 2026, the IHSG began to show a promising strengthening trend, signaling renewed investor confidence. By May 5, 2026, the index closed at 7,057.11, marking a 1.44% increase month-to-date, indicating a positive recovery trajectory in the equity market after the earlier correction.
Friderica emphasized the continued strength of capital market fundraising. “As of May 5, 2026, fund mobilization in the capital market had reached Rp59.35 trillion, predominantly driven by the issuance of debt securities,” she stated during the KSSK press conference on Thursday, May 7, 2026. This highlights a robust appetite for capital formation and diverse investment instruments within the economy.
Investor participation has also surged, with the number of Single Investor Identifications (SIDs) rising to 24.7 million by the first quarter of 2026 and further expanding to approximately 26 million investors by early May. This impressive growth reflects the high and increasing engagement of domestic retail investors in the capital market, significantly diversifying the investor base.
In response to both global and domestic market dynamics, the OJK is actively implementing a series of strategic policies. These initiatives include advancing capital market reforms, accelerating financing programs for housing and Micro, Small, and Medium Enterprises (MSMEs), and fortifying the national bullion ecosystem through a comprehensive roadmap spanning 2026–2031. These concerted measures aim to foster sustained economic development and financial stability.
Furthermore, to deepen the domestic financial market, the OJK has introduced specific regulations concerning gold-based mutual funds (gold ETFs). This innovative move is expected to provide investors with more diversified and accessible options, thereby enhancing the liquidity and sophistication of Indonesia’s dynamic financial landscape.
Summary
The OJK reported that Indonesia’s financial services sector maintained robust performance and stability at the start of 2026 amidst dynamic global conditions. Banking credit surged by 9.49% year-on-year to Rp8,659 trillion, driven by investment, while maintaining healthy asset quality and a strong Capital Adequacy Ratio. The non-banking financial sector also grew, with insurance assets increasing by 4.38% and online lending expanding by 26.25%.
Indonesia’s domestic capital market showed dynamic movements, with the Composite Stock Price Index experiencing a correction by March but demonstrating an 8.26% annual growth and signs of recovery by May 2026. Investor participation notably increased to around 26 million, and the crypto asset ecosystem grew significantly to 21.37 million investors. To sustain development, the OJK is implementing strategic policies such as capital market reforms, financing programs for MSMEs, and introducing gold-based ETFs.
