The Financial Services Authority (OJK) reported that the banking industry booked net profit of Rp85.12 trillion per the third quarter (Q3) of 2020, declined 27.61% from Rp117.59 trillion in the corresponding period of 2019, pressured by impacts of the COVID-19 pandemic. In August 2020, banking profit also declined 21.83% year on year (y/y). So for month-on-month (m/m), banking profit contraction increased, reflecting more pressures from the pandemic.To subscribe please click here