Banks Should Withhold Dividend and Increase Capital

By Editorial Team 10/01/2023
Summary

Finance Minister Sri Mulyani Indrawati asked bankers to be aware of global risks in several countries, including debt crisis potentials. She revealed among the most notable risks in 2023 would be high inflation, rising interest rates, geopolitical tensions, and IMF's projections on the global economic slowdown.

"The ups and downs of our economy, and whether it is healthy or not, depends on the banking sector this year. So, my job is to take care of the state budget [APBN], but please take good care of your banks," Sri Mulyani said at the CEO Banking Forum on Monday.

In the Economic Outlook Indonesia, on Dec 21, 2022, Financial Services Authority (OJK) chairman Mahendra Siregar asked banks that recorded high profits to strengthen their reserves and not pay dividends too fast amid global uncertainties this year.

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