Jogja Financial Festival: Examining the Role of Banking and the Money Market

Yogyakarta, CNBC Indonesia - Jogja Financial Festival 2026 invites the younger generation to better understand the financial industry, from banking products and services to investment activities in the capital market. The festival’s second day of the financial exhibition and education was opened by the Deputy Mayor of Yogyakarta, Wawan Harmawan, who welcomed the event’s presence in Yogyakarta. ‘We are very happy and an event like this greatly helps Jogja’s economy. Friends at ISEI say Jogja grows because of the crowd economy. So we hope events like this can be held every week,’ he said at JEC, Saturday (23/5/2026). He also noted the enthusiasm of residents to participate in activities and learn about products and services as well as financial management. That enthusiasm was promptly addressed with discussions of the finance industry by HIMBARA bankers in the Business Talks session. President Director of PT Bank Rakyat Indonesia (Persero) Tbk, Hery Gunardi, said that digital transformation is very important and a necessity, especially amid rapidly evolving technology. BRI itself, he added, continues to transform to strengthen services to the community, including by introducing digital banking services BRImo (BRI Mobile Banking). ‘Daily transactions, BRImo handle Rp32 trillion per day, Rp7,500 trillion per year,’ he stated. In the same vein, Director of Finance & Strategy at PT Bank Mandiri (Persero) Tbk, Novita Widya Anggraini, said that at certain periods the daily transactions of Livin’, the digital banking service, can reach 13 million transactions. ‘That means almost 4.5 billion per year to access that Livin app, which would be hard to imagine if these transactions were still served offline, in branches,’ she said. The explanation of digital banking services was followed by a discussion on how banks facilitate people to own homes through mortgage products, including subsidised mortgages (KPR). President Director of PT Bank Tabungan Negara (Persero) Tbk, Nixon LP Napitupulu, stated that the subsidised KPR programme is designed for households with an income cap to target Low-Income Municipalities (MBR). For households in decile 1 and 2, deemed unable to access credit, the government channels the Bantuan Stimulan Perumahan Swadaya (BSPS). ‘KPR is of course aided by the government. The government creates the subsidised KPR programme with a max income limit. The aim is to target low-income households because many are unbanked. If there are 10 deciles, you could say the hardest are decile 1-2, while deciles 3-8 are interceded by KPR,’ he explained. Meanwhile, Director of Treasury & International Banking at PT Bank Negara Indonesia (Persero) Tbk, Abu Santosa Sudradjat, said BNI currently has eight financial centres and 10 international branches connecting Indonesian business with world markets. ‘Our main business is the gateway linking the international world with Indonesia, and vice versa,’ he noted. Also, President Director of PT Bank Syariah Indonesia (Persero) Tbk, Anggoro Eko Cahyo, revealed that the banking sector can help determine a fair and sustainable economic growth trajectory. Bank financing, he said, can act as a driver for specific sectors while enabling the economy. ‘This is where the role of Islamic banking in building a fair, transparent, sustainable and beneficial economy comes in. The economy is not just for profit, so how we at BSI can support SMEs. We will finance SMEs so their growth is sustainable,’ he stated. The Role of Indonesia’s Financial Market In the Business Talks session: Financial Market, BEI’s President Director Jeffrey Hendrik expressed that the market remains optimistic about Indonesian capital market growth in 2026. This optimism stems from a rising trend in youth investment. ‘Two years of Covid saw the number of investors grow from 4-5 million to 10 million. But compared with 2020, today’s 10 million has risen to 27.4 million. In five years, an increase of more than 17 million, or double,’ he said. The government also has a robust strategy for managing the APBN by leveraging financial markets through the issuance of Government Securities (SBN). Director General of Financing and Risk Management, Directorate General of Financing and Risk Management, Ministry of Finance, Suminto, said the share of SBN in financing the national economy is very large. ‘When the government needs to strengthen the APBN, it issues SBN. In our APBN, 85-87 percent of debt financing comes from SBN rather than external borrowing,’ he explained. For PT Sarana Multi Infrastruktur (Persero), leveraging financial markets to support development projects at home was discussed. ‘For example, in Jogja, there is the Jogja-Solo toll; we at PT Sarana Multi Infrastruktur are also participating in financing the construction of that toll road,’ said President Director Reynaldi Hermansjah. ‘This is our role in financing. Another example we recently visited was the Academic Hospital of Universitas Gadj Mada, which was also financed by us,’ he added. (dpu/dpu)