Indonesia's Banking Giants Receive Directives from Prabowo

The Supervisory Board of State-Owned Enterprises (BP BUMN) is directing state-owned banks to increase financing access for micro, small, and medium enterprises (MSMEs), the commercial sector, and corporations to drive stronger economic activity across various regions. This aligns with the direction of President Prabowo Subianto, who underscored the strategic importance of the Association of State-Owned Banks (Himbara) as a key pillar of the national economy. With a combined market capitalisation reaching approximately Rp1,100 trillion, equivalent to roughly 10% of the total value of companies listed on the Indonesian capital market, Himbara is expected to make an increasingly significant contribution to economic growth and public welfare. Head of BP BUMN Dony Oskaria stated that in his directives, the President stressed that the strength and business scale of Himbara must be accompanied by increasingly tangible benefits for society. Himbara is encouraged to continue strengthening its role in supporting national economic growth through the expansion of financing access, reinforcement of productive sectors, and support for various strategic government programmes. The meeting also covered the importance of maintaining professionalism, good governance, and prudential principles in managing the banking industry. ‘The President’s directives serve as an impetus for us to ensure that Himbara not only grows robustly but also becomes increasingly beneficial for the people,’ Dony said in a written statement on Friday (19/6/2026). Through this strengthened role, Himbara is expected to continue serving as a driving force for the national economy, expanding access to financial services, and supporting the creation of a stronger, more self-reliant, and competitive Indonesian economy.