News

Jakarta, 24 February 2025 – OJK Chief Executive of Banking Supervision, Dian Ediana Rae, welcomed the government's initiative to launch Investment Management Institution Daya Anagata Nusantara (Badan Pengelola Investasi Daya Anagata Nusantara/BPI Danantara). This institution aims to enhance the comprehensive management of state-owned enterprises (SOEs) to drive domestic investment and strengthen sustainable national economic growth.

Dian explained that the formation of BPI Danantara, through the Third Amendment to Law No. 19 of 2023 on SOEs, ratified by the House of Representatives (DPR) on 4 February 2025, is intended to manage state assets separately from the State Budget (APBN). The primary focus will be strategic national investments, including downstream industries, infrastructure, food security, energy resilience, import substitution industries, and digitalization.

BPI Danantara: Indonesia’s Sovereign Wealth Fund

The establishment of BPI Danantara is not a new phenomenon, as sovereign wealth funds have been successfully implemented in many countries. Examples include the Government Pension Fund Global (Norway), Temasek Holdings (Singapore), Qatar Investment Authority (Qatar), and Abu Dhabi Investment Authority (United Arab Emirates). These institutions manage large-scale investments in technological innovation, renewable energy, and strategic supply chains.

With BPI Danantara, Indonesia aims to optimize national wealth, integrate asset management, and enhance efficiency and transparency, ultimately contributing positively to national economic growth.

Integration of SOEs, Including State-Owned Banks

In its initial phase, BPI Danantara will consolidate several major SOEs, including state-owned banks such as Bank Mandiri, BRI, and BNI. These banks will remain subject to Law No. 7 of 1992 concerning Banking, as amended by Law No. 4 of 2023 concerning the Development and Strengthening of the Financial Sector (UU P2SK).

As mandated by UU P2SK, OJK is responsible for regulating and supervising the banking industry, ensuring that SOE banks adhere to governance, prudential principles, and adequate risk management to maintain the stability of the national financial system.

Additionally, as publicly listed companies, these state-owned banks have shareholders beyond the Government of Indonesia, making it crucial to sustain strong performance and maintain a positive perception among investors.

Prudential Principles and Global Standards

Regulations governing the banking industry are aligned with prudential banking principles and international best practices, following Indonesia’s commitments as a G20 member and part of the Basel Committee on Banking Supervision (BCBS). These regulations serve as binding guidelines for all banks, including SOE banks, ensuring integrity and transparency in their operations.

During the launch of BPI Danantara, President Prabowo Subianto emphasized that SOE banks must uphold these principles to strengthen Indonesia’s financial sector.

OJK’s Coordination and Oversight

OJK has coordinated with relevant ministries, government institutions, and the banking industry to assess the technical implications of BPI Danantara’s formation. Further regulations will outline how SOE banks will be managed under BPI Danantara, ensuring compliance with existing financial laws and regulations.

The three consolidated SOE banks have demonstrated strong financial performance, as reflected in positive growth in Third-Party Funds (DPK), Net Profit, and Credit Expansion as of December 2024. These banks also maintain strong asset quality, capital adequacy, and liquidity, ensuring sustainable financial performance moving forward.

Ensuring Stability and Sustainable Growth

In 2025, SOE banks will focus on maintaining strong fundamentals and achieving sustainable growth. Through targeted strategies, digital innovation, and prudent risk management, these banks are optimistic about sustaining stable growth amid global and domestic economic dynamics while strengthening their role as key pillars of the national economy.

Dian Ediana Rae reaffirmed that the establishment of BPI Danantara will not affect the operational quality, banking services, or the security of public deposits. SOE banks will continue to operate in full compliance with existing regulations while upholding governance and prudential principles.

OJK’s Commitment to Monitoring SOE Banks

OJK urges SOE banks to continuously enhance their performance, professionalism, and customer service to contribute to Indonesia’s overall economic development. Moving forward, OJK will closely monitor the business development of SOE banks to ensure alignment with the objectives of BPI Danantara, as envisioned by President Prabowo Subianto.