Good News After Eid! Banking Credit Grows Throughout The First Quarter Of 2023

JAKARTA Bank Indonesia (BI) reports that new lending in the first quarter of 2023 grew positively. This is known based on the results of a banking survey conducted some time ago.

Head of the BI Communication Department Erwin Haryono said the indication could be seen from the value of the New Credit Weighted Net Balance (SBT) of 63.7 percent. He said the new credit growth occurred in all types of credit.

"In the second quarter of 2023, new lending is estimated to grow higher, indicated by the SBT forecast for new lending at 99.7 percent," he said in a written statement today, Wednesday, April 26.

According to Erwin, the standard for lending in the second quarter of 2023 is predicted to be slightly tighter than in the previous period. This is indicated by the Positive Lending Standard Index (ILS) of 0.1 percent.

"The policy of lending is estimated to be stricter, including in terms of credit interest rates, risky credit premiums, and administrative requirements," he said.

Erwin added that the survey results showed that respondents remained optimistic about credit growth in the future.

It was stated that respondents estimated credit growth for the entire 2023 by 10.4 percent year on year (yoy). This figure grew positively even though it was not as high as the realization of credit growth in 2022 by 11.4 percent yoy.

"This optimism is driven, among other things, by monetary and economic conditions and relatively maintained risks in lending," Erwin concluded.