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Bank Indonesia: Bank Lending Increases 4.9 Percent in December 2021

Senin, 24-January-2022 20:00

illustration: Bank Indonesia logo.
Foto : ANTARA/REUTERS/Ajeng Dinar Ulfiana/pri
illustration: Bank Indonesia logo.
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JAKARTA, NETRALNEWS.COM - Bank Indonesia (BI) says bank lending in December 2021 reached IDR 5,755.7 trillion. This figure is higher by 4.9 percent as compared to the same period the previous year (year-on-year/YoY).

Erwin Haryono, Chief Executive Director of Communications Department at Bank Indonesia, said in his official statement in Jakarta, on Monday, that credit growth was higher than November 2021, which was 4.4 percent.

He explained that there was an acceleration of lending to corporations by 1.2 percent YoY in December 2021, an increase from 0.9 percent YoY in the previous month.

On the other hand, loans to individuals saw a stable growth of 8.4 percent YoY in December 2021.

Based on the type of use, the rise in lending in December 2021 mainly occurred in working capital loans and consumption loans, while investment credit grew slower.

Erwin explained that working capital loans were again accelerated from five percent YoY in November 2021 to 6.1 percent YoY in December 2021, especially in the manufacturing sector, as well as the financial, real estate and corporate services sectors.

Working capital credit for the manufacturing sector in December 2021 recorded a growth of 6.8 percent YoY,  which was higher compared to the previous month of 5.1 percent YOY, which mainly occurred in working capital loans in the iron and steel-based metal industry in West Java and Banten.

Meanwhile, working capital loans for the financial, real estate, and corporate services sectors rose from 0.8 percent YoY to 2.4 percent YoY in December 2021, stemming from an increase in the realization of working capital loans for other financial intermediaries (non-banking) leasing inJakarta and Banten.

In addition, consumption credit growth continues to show acceleration, from 4.1 percent YoY in November 2021 to 4.6 percent YoY in December 2021, due to acceleration in the distribution of housing loans (KPR) and multipurpose loans.

On the other hand, the central bank said that investment credit in December 2021 grew slower, from 3.5 percent YoY in the previous month to 3.2 percent YoY, which mainly occurred in the agriculture, livestock, forestry and fisheries sectors, as well as manufacturing sector.

Investment lending in the agriculture, livestock, forestry and fishery sectors grew by 3.2 percent YoY, or slowed down from 3.5 percent YoY in the previous month, especially credit extended to the oil palm plantation sub-sector.

Likewise, investment credit in the manufacturing sector in December 2021 grew by 0.5 percent YoY, lower than the 6.5 percent YoY growth in the previous month, in line with the slowdown in credit in the fertilizer industry subsector, as reported by Antara.

Reporter : turkhan
Editor : turkhan

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