BI: Credit Distribution In The Third Quarter Of 2024 Grows Positively

JAKARTA - The results of the Banking Survey of Bank Indonesia (BI) indicate that new lending in the third quarter of 2024 grew positively, as reflected in the value of the Weighted Net Balance (SBT) for new credit distribution of 80.6 percent.

"Based on the type of use, the increase in new credit growth is indicated to be sourced from consumption loans driven by the distribution of Home Ownership Loans (KPR)," said BI Communications Department Executive Director Ramdan Denny Prakoso in Jakarta, quoted from Antara, Monday, October 21.

Furthermore, in the fourth quarter of 2024, new lending is predicted to continue to increase with an estimated new credit distribution of 88.3 percent.

Ramdan said the standard for lending in the fourth quarter of 2024 is predicted to be slightly tighter than in the previous period. This is indicated by the Positive Lending Standard Index (ILS) of 2.2 percent.

Most aspects of lending policies are predicted to be more stringent, especially administrative requirements. Meanwhile, credit interest rates, credit approval costs, and credit periods are forecasted to be looser.

The survey results show that respondents predict credit growth until the end of 2024 remains optimistic, with outstanding credit forecasts that continue to grow.

This optimism is driven, among other things, by the prospect of monetary and economic conditions as well as the relatively risk-maintained in lending.