Indonesian Banking Industry In Good Condition

Jakarta (Antara Bali) - President Joko Widodo (Jokowi) said that the condition of the country's banking industry is fairly good  despite the economic slowdown.

"Before I entered this room I talked with a number of bank leaders," Jokowi said when opening the Indonesia Banking Expo (Ibex) 2015 at the Jakarta Convention Center (JCC) on Wednesday.

He said the bankers ensured him that there is no serious problem in non performing loan  as well as in credit growth.

"I asked them to say outright  the real condition of our banking industry  and they told me that I need not worry," the president said.

He said bank credits grew 15-16 percent, lower than normal growth of more than 210 percent per year.

There is also profit though smaller , he added.

The country has recorded a slowdown with the economy growing only 4.7 percent in the first half of the year down from more than 5 percent in the same period last year.

The president said the country's banking industry has yet to expand its financing coverage to reach isolated areas and islands.  

"Our financial inclusion level is still low with only  54 percent of the country's population having access to official financial agencies," he said.

A breakthrough is needed to expand the financial inclusion to cover all people, he said. (WDY)