In 2020, the development of financial services in Papua shows a positive trend

Based on statistical data managed by the OJK Office for Papua and West Papua Provinces, it is known that as of December 31, 2020, the credit growth of Commercial Banks (yoy) in Papua was 3.72% with credit disbursement of IDR 31.32 T. Credit growth for Commercial Banks in Papua was better than national credit growth which grew negatively at 2.41%.

The Head of OJK Papua and West Papua, Adolf Fictor Tunggul Simanjuntak, in a press release received by the KILASPAPUA.COM editorial team stated that the assets of Commercial Banks in Papua Province yoy in 2020 have increased to Rp75.87 T or an increase of 1.33% Third Party Funds (DPK) in Papua (yoy) experienced negative growth to Rp46.6 T or grew by -0.03%. "Non-Performing Loans (NPL) or bad credit for Commercial Banks in Papua Province also experienced improvement, namely by 2.16%, better than NPL for Commercial Banks nationally, which was 3.06%," he said.

He continued, the realization of financing companies' receivables in Papua Province in December 2020 was recorded at IDR 916 billion or a negative growth of 32.1% when compared to 2019 with relatively small Non-Performing Finance (NPF) at 1.46%. The NPF of Financing Companies in Papua is better than the National, which is at 4.01%.

"The performance of the capital market in Papua has also shown very positive developments throughout 2020 with an increase in the number of investors by 55.6% or 18,396 Papuans becoming investors in the capital market with a total share ownership of Rp. 616.8 billion.

Distribution of loans through Fintech Peer to Peer Lending (Online Loans) in Papua until December 2020 amounted to IDR 504 billion, an increase of around 460.05% with the accumulated number of borrower / borrower accounts of 304,823 accounts (an increase of 1,213%).

In addition, there are 1,587 accounts belonging to the Papuan people that are used as lenders in Fintech Peer to Peer Lending. Papuans are asked to be careful if they want to make loans through online loans by ensuring the legality of the online loans through the ojk.go.id website or through OJK Contact 157, "he concluded.

SOURCE: https://kilaspapua.com/ekonomi/ditahun-2020-perkembangan-jasa-keuangan-di-papua-menunjuk-tren-positif/