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New Credit Growth in the First Quarter of 2021 is Predicted to Increase due to These 3 Categories

Jakarta, 19/01/2021 MoF - New credit disbursement in the first quarter of 2021 is predicted to increase due to the increase in working capital credit, investment credit and consumption credit categories. This forecast is obtained from Bank Indonesia (BI) banking survey which is indicated by the weighted net balance (WNB) of new credit disbursements in the first quarter of 2021 of 49.4%, an increase from 25.4% in the fourth quarter of 2020.

Credit disbursement standards in the first quarter of 2021 are predicted to be less stringent than in the previous period. This is indicated by the Lending Standard Index (ILS) of 0.4%, lower than 3.2% in the previous quarter. Aspects of disbursement policy that predicted will not be as tight as the previous quarter include the credit ceiling and credit period.

"The survey results indicate that respondents are still optimistic about credit growth for the whole of 2021. Respondents estimate that credit growth in 2021 will be 7.3% (yoy). This optimism is driven, among others, by monetary and economic conditions, as well as the relatively manageable risk of lending," said the Head of the Communication Department, Erwin Haryono in a press release. (nr / mr / hpy)