JAKARTA – The tendency to get easy and cheap credit/financing during the pandemic seems to be coming to an end.

A Bank Indonesia (BI) survey found that credit disbursement standards in the third quarter of 2022 are predicted to be slightly tighter than the previous period.

Head of the BI Communications Department Erwin Haryono said the situation was indicated by the positive Lending Standard Index (ILS) of 1.9 percent or different from minus 0.3 percent in the previous quarter.

"Aspects of credit distribution policies that are expected to be tighter include the credit period (tenor),

credit ceiling, risky credit premiums, as well as the collateral used," he said in a written statement on Tuesday, July 19.

However, Erwin said the survey results showed that respondents remained optimistic about future credit growth.

"Respondents estimate credit growth in 2022 at 9.2 percent on an annual basis (year on year/yoy) or an increase compared to 5.2 percent (yoy) growth in 2021," he said.

Erwin added, in terms of new lending on a quarterly basis or quarter to quarter (qtq), it is known that in the second quarter of 2022 positive growth.

This is indicated by the new weighted net balance (WNB) of 96.9 percent, which is higher than the WNB 64.8 percent in the previous quarter.

New credit growth is indicated for all types of usage, as reflected in the positive SBT value.

"In the third quarter of 2022, new loan distribution is estimated to maintain positive growth, as indicated by the WNB forecast for new lending at 95.7 percent," Erwin concluded.


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