Third Party Funds in Papua be IDR 45.77 Trillion, Growing 4.43 Percent as of July 2021

goodmorningpapua.com – The Financial Services Authority of the Provinces of Papua and West Papua recorded an increase in Third Party Funds (DPK) in July 2021 by Rp45.77 trillion or grew by 4.43 percent compared to the previous year period.

A Head of the OJK Office for Papua and West Papua Provinces, Adolf Fictor Tunggul Simanjuntak, said that apart from DPK, credit disbursement also grew by 5.12 percent year over year (yoy) or got higher than national growth.

This growth, according to Fictor, was influenced by the performance of banking intermediation in Papua Province which was running well  in accordance with efforts to recover the economy from increased household consumption.

“Then in the capital market, both the value of share ownership and the value of share transactions in Papua Province also grew positively in yoy in July 2021,” said Fictor in Jayapura, Thursday, September 2, 2021.

He explained that share ownership and share transaction value in Papua Province were Rp. 574.96 billion (22.90 percent) and Rp. 555.54 billion (53.51 percent), respectively.

This positive achievement was driven by increased public participation in the capital market as a safe investment alternative, as reflected in the number of investors in Papua Province which increased 76.72 percent yoy in July 2021.

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“As for the Non-Bank Financial Industry (IKNB), receivables from finance companies in Papua Province were able to grow positively by 4.47 percent with a receivable value of Rp1.33 trillion,” he said.

In addition, he continued, the development of Fintech P2P Lending in Papua Province reached significant growth, both in terms of financial intermediation achievements and the number of lender and borrower accounts.

The amount of funds collected from lenders in July 2021 was IDR4.94 billion (72 percent ytd) and the amount of funds distributed to borrowers was IDR27.55 billion (84.98 percent ytd).

“This achievement is inseparable from the increase in the number of lender and borrower accounts in Papua Province which grew by 81 percent and 58.39 percent, respectively,” said Fictor.

Looking at this record, OJK sees positive growth in the financial services industry in Papua. In fact, the performance of the financial services industry grew higher than the national one.

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