Bank Indonesia Projects 8% Credit Growth in 2022

Translator

Ririe Ranggasari

Editor

Laila Afifa

25 November 2021 19:56 WIB

TEMPO.CO, JakartaBank Indonesia (BI) Governor Perry Warjiyo projected banks' credit growth at six to eight percent in 2022. The growth is expected to be supported by a stable financial system, ample amount of high capital, and abundant liquidity.

"BI's policy focus in 2022 is on lowering bank lending rates further," Perry said at the 2021 Bank Indonesia Annual Meeting (PTBI) in Jakarta, Wednesday, November 24.

Perry said that third party funds are projected to grow around seven to nine percent next year. He added that the current supply of bank loans is quite supportive, with interest rates declining and liquidity abundant.

"The standard lending index has also improved. And now the policy focus is on increasing credit demand from the business world," he said.

In the future, Perry emphasized that banking system's excess liquidity will be reduced gradually and very carefully, so it does not interfere with banks' ability to disburse loans and purchase government securities (SBN) to finance the state budget.

Read: Forecast: Bank Loan Disbursement Still Slow in 2021

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