JAKARTA - New credit growth is expected to be in July 2023, compared to the previous month. This is supported by investment loans and housing loans (KPR).
This increase occurred because the business world began to expand its business, the revocation of the pandemic status became endemic, thus making the business world optimistic about the national economy. On the other hand, in terms of credit distribution cycle, it will accelerate in the second semester.
Bank Indonesia (BI) in the Banking Financing Demand and Supply Survey explained, the weighted net balance (SBT) of new credit distribution for investment credit was 50 percent, higher than the June position of 40 percent and May's position of 21.5 percent. Meanwhile, the SBT for new mortgage loans as of July was 58.6 percent higher than June's position of 53.1 percent.
BI also assesses that lending in the second quarter of 2022 has increased compared to the first quarter of 2023. This is indicated by the estimated WNB for new credit distribution from the survey for the June 2023 period which was positive at 95 percent, up from 55.9 percent in the first quarter.
Then, an increase in new credit distribution was indicated in almost all bank categories, except Islamic commercial banks (BUS). For the types of use, new credit distribution is expected to increase in all types of credit. For SBT investment loans, it was recorded at 59.1 percent, working capital loans (KMK) 76.4 percent, consumer loans for mortgages 73.7 percent, and other consumption loans 67.7 percent.
Based on the results of the June 2023 survey, the new credit distribution policy for the whole of the second quarter of 2023 is generally expected to be tighter than the previous quarter. This is indicated by the change in lending policy in the second quarter of the WNB, the survey results for the June 2023 period recorded a positive 0.7 percent.
“From the type of use, a tighter credit disbursement policy is expected to occur for working capital loans and other consumer loans. Meanwhile, investment loans and mortgages are expected to be loose," said Executive Director of the BI Communication Department Erwin Haryono in his statement, quoted on Thursday 20 July.
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The survey results are also in line with the need for corporate financing in June which indicated an increase compared to the previous month. Where SBT for corporate financing is 17.8 percent higher than SBT 12.5 percent in May 2023.
The increase in corporate financing needs was mainly driven by the construction, trade and mining sectors. The increase occurred primarily to support operational activities and pay maturing obligations.
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