JAKARTA, May 23 (Reuters) - Loans extended by Indonesian banks in April grew 8.94 percent from a year earlier, picking up from the 8.54 percent pace the month before, the Financial Services Authority (OJK) said on Wednesday.
The ratio of bad loans in the banking industry rose to 2.79 percent of total outstanding loans in April from 2.75 percent in March.
But the OJK said April’s non-performing loan ratio suggested that “credit and market risks remained manageable”.
“The OJK believes the financial services sector is still in a good enough condition to mitigate the impact of global financial market dynamics,” the regulator said in a statement. (Reporting by Gayatri Suroyo Editing by Jacqueline Wong)