15 Indonesian Financial Conglomerates Have Total Assets of IDR 9.018 Trillion

FINANCIAL SERVICES - JAKARTA. The Financial Services Authority (OJK) is set to issue a regulation titled Financial Conglomerates and Parent Financial Conglomerates, as an implementing regulation of the Law on Development and Strengthening of the Financial Sector (P2SK) effective since January 12, 2023. The draft of this OJK Regulation (RPOJK) has undergone a rule-making process or public opinion request, throughout the period from April 2 to May 2, 2024.

In the midst of the process of ratifying the RPOJK into POJK, interesting data emerged about the existence of 15 financial conglomerates (KK) in the OJK's Q4 2023 Performance Report released on April 29, 2024. These 15 KKs consist of a total of 107 financial service institutions (LJK) with a total asset value of IDR 9,018 trillion.

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