BI Reveals New Credit Distribution Grows In The First Quarter Of 2024

JAKARTA - The results of the Banking Survey of Bank Indonesia (BI) indicate that new lending in the first quarter of 2024 grew positively.

Head of the Communications Department and Assistant Governor of BI Erwin Haryono said this was reflected in the value of the Weighted Net Balance (SBT) for the distribution of new loans in the first quarter of 2024 of 60.8 percent.

The growth in new lending occurred in all types of credit.

Furthermore, in the second quarter of 2024, new lending is predicted to continue to grow with an estimated new credit distribution of 57.6 percent.

"The credit distribution standard in the second quarter of 2024 is predicted to be slightly tighter on all types of credit except for KPR/KPA," he explained in his statement, Friday, April 26.

Erwin said that the majority of aspects of lending policies are predicted to be more stringent, especially credit and collateral interest rates.

Meanwhile, the credit period and administrative requirements are forecast to be looser.

"The survey results show that respondents remain optimistic about credit growth in the future," he said.

Erwin said that based on these results, respondents predict that credit outstanding until the end of 2024 will continue to grow.

"This optimism is driven, among other things, by the prospect of monetary and economic conditions and the relatively well-maintained risks in lending," he concluded.