Bank Indonesia: Request For Corporate Loans To Slow Down In April 2023

Illustration (Photo: Doc. Antara)

JAKARTA - The latest Bank Indonesia (BI) survey stated that the demand for corporate financing in April 2023 as reflected in the Weighted Net Balance (SBT) was 19.8 percent.

Head of the BI Communications Department Erwin Haryono said the figure was more gentle than the May 2023 SBT which was 24.0 percent.

"The request for corporate financing in April 2023 is indicated to have limited growth," he said in a written statement today, Monday, May 22.

According to Erwin, the majority of the financing sourced from the funds themselves was followed by financing from the use of attractive leniency facilities which increased compared to the previous month.

"Meanwhile, demand for financing sourced from domestic banks is indicated to slow down," he said.

Erwin explained that the distribution of new credit by banks in April 2023 was also indicated to have limited growth. It was stated that the SBT for lending only last month was recorded at 68.9 percent.

He said, that level grew positively even though it was not as high as the SBT in the previous month by 94.6 percent.

"The main factors that affect the distribution of new loans include requests for financing from customers, prospects for monetary and economic conditions in the future, as well as levels of business competition from other banks," he said.

Meanwhile, for the entire second quarter of 2023, offers for new lending from banks are predicted to increase. Furthermore, on the household side, new financing requests are indicated to slow down in April 2023.

Erwin said that the majority of households proposed types of financing in the form of multipurpose loans and chose commercial banks as the main source of additional financing.

"Meanwhile, other sources of financing that are household preferences to meet financing needs include cooperatives and leasing," he concluded.