JAKARTA - Bank Indonesia (BI) stated that new credit distribution by banks in February 2024 is indicated to increase, supported by increasing demand for financing and the prospect of future monetary and economic conditions

Assistant Governor of the BI Communications Department Erwin Haryono said that new credit distribution by banks in February 2024 is also indicated to increase with WNB of 54.1 percent, higher than WNB in ​​January 2024 which was 24.5 percent.

Erwin said that based on bank categories, an increase in new credit distribution in February 2024 is predicted to occur in all bank categories. Like the type of use, new credit distribution in February 2024 is indicated to increase across all types of credit.

"The main factors influencing new credit distribution include requests for financing from customers, prospects for future monetary and economic conditions, as well as the level of business competition from other banks," he explained.

Apart from that, Erwin said that new credit distribution is predicted to increase in March 2024, as indicated by the predicted WBT value for new credit distribution in March 2024 of 80.9 percent.

"The increase in new credit distribution in March 2024 is predicted to occur in all bank categories and in almost all types of credit, except other consumer credit," he said.

According to Erwin, the credit distribution policy (lending Standard) in February 2024 is slightly stricter. This is indicated by the SBT change in lending standards for February 2024, which has a positive value of 0.4 percent.

Based on the type of use, a strict credit distribution policy is indicated for all types of credit. Factors influencing changes in lending standards in February 2024 include potential future credit risks, banks' tolerance for risk, as well as current conditions or problems in the real sector.

Furthermore, Erwin said that for the entire first quarter of 2024, the offer of new credit distribution from banks is predicted to continue to grow even though it is slowing compared to the fourth quarter of 2023 according to historical patterns.

This is indicated by the WBT forecast for new credit distribution for the first quarter of 2024 based on survey results for the February 2024 period which is positive at 22.9 percent, or lower than December 2023 which was 94.0 percent.

However, based on bank category, a slowdown in new credit distribution is indicated to occur in all bank categories. Like the type of use, new credit distribution is predicted to grow slowly across all types of credit.

Meanwhile, based on the results of the February 2024 survey, the new credit distribution policy for the entire first quarter of 2024 is generally predicted to be stricter than the previous quarter.

"This is indicated by the SBT change in credit distribution policy for the first quarter of 2024 which was recorded as positive at 2.2 percent," he said.

Meanwhile, based on type of use, stricter credit distribution policies in the first quarter of 2024 are predicted to occur in Consumer Credit (KPR) and other consumption credit, while Investment Credit (Kl) and Working Capital Credit (KMK) are predicted to be looser.


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