BCA Is Optimistic for Credit Growth to Reach 12 Percent in 2023

JAKARTA - PT Bank Central Asia (BCA) Tbk. projecting that credit growth can continue to show a positive trend, reaching 12 percent in 2023.

BCA noted that lending grew by 12 percent to IDR 713 trillion in the first quarter of 2023.

"So, if we enter the second quarter, I think this is a quite promising quarter. We are confident that this year we can maintain the momentum of increasing credit from 10 to 12 percent in 2023," said President Director of BCA Jahja Setiaatmadja in a virtual press conference, on Thursday, April 27.

Jahja said, the momentum of Eid al-Fitr 1444 H will greatly contribute to credit growth in 2023. Because, at that moment, the demand for goods and services increases. This means that people need extra ammunition to shop.

This has even been reflected in lending from March 2023 to April 2023 which grew by close to 12 percent on an annual basis or year on year (yoy).

The sector with the largest increase in credit, ranging from plantations, telecommunications, to financial services.

"We just celebrated Eid al-Fitr and we know that usually before Eid, the demand for goods and services increases and also many manufacturers try to provide materials to be sold ahead of Eid, because usually before Eid, right, people get THR, so that is extra ammunition that can be spent," said Jahja.

"We see that ahead of Eid, the demand for House Ownership Credit (KPR) and Motor Vehicle Loans (KKB) is increasing. It is not only BCA that provides KKB, but other financial institutions that we also support," he added.

Not only that, Jahja sees that economic growth is still positive, and controlled inflation also plays a very important role in credit growth.

"It is difficult to predict going forward, but the momentum in the first quarter of 2023 is expected to continue," he concluded.