February 10, 2026 | 06:34 pm
TEMPO.CO, Jakarta - The Financial Services Authority (OJK) has said that Moody’s recent revision of Indonesia’s sovereign credit rating outlook is unlikely to significantly affect the stability or performance of the country’s banking sector.
Despite Moody’s downgrading the outlook of five major Indonesian banks, OJK’s Executive Director of Banking Supervision, Dian Ediana Rae, emphasized that the sector remains solid.
“I’m optimistic there won’t be a significant impact. As Moody’s stated, this is primarily a consequence of an overall outlook downgrade,” Dian said during the Economic Outlook CNBC Indonesia event at Hotel Kempinski, Jakarta, on Tuesday, February 10, 2026.
Dian stressed that the revised outlook does not reflect structural weaknesses in Indonesian banks. She said the fundamentals of the five banks affected by Moody’s remain intact and that the Financial Services Authority’s focus is on the conditions of each individual bank.
“With 105 commercial banks in total, early supervision is key to preventing potential issues. Even one troubled bank is already a concern,” Dian said.
She highlighted that Moody’s revision underscores a shared responsibility among stakeholders, particularly the Financial System Stability Committee (KSSK), while also noting the importance of clear and data-driven communication with international rating agencies to convey Indonesia’s economic policy direction.
“Anything related to regulations, data, policy direction, and other relevant information will be prepared and communicated properly,” she added.
Moody’s downgraded the outlook of five major banks in Indonesia to negative, including PT Bank Mandiri (Persero) Tbk, PT Bank Rakyat Indonesia (Persero) Tbk, PT Bank Negara Indonesia (Persero) Tbk, PT Bank Central Asia Tbk, and PT Bank Tabungan Negara (Persero) Tbk.
According to Moody’s analyst Clarabelle Tan, the revision reflects growing concerns about the credibility of government policy, citing decreased certainty and consistency in policy formulation and communication over the past year.
Despite this, Moody’s affirmed that Indonesia’s credit rating remains supported by the country’s economic resilience, robust natural resources, and favorable demographic structure, which underpin long-term growth.
The agency cautioned, however, that any sovereign credit downgrade could lead to related downgrades for banks closely tied to the government.
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