Banking Credit Distribution in November Soared 26.8 Percent

Banking Credit

Indonesia’s economic and business sectors are observed to be getting better. The movement can be felt in society. Based on the latest release from Bank Indonesia, new credit distribution in November 2022 jumped 26.8 percent.

This figure means that there is an increase of 26.8% month-to-month in November 2022 compared to October 2022.

This increase can be seen from the Weighted Net Balance or SBT for new credit distribution of 59.6 percent, or higher than the SBT in October 2022 of 32.8 percent.

“The main factors affecting the forecast for new credit distribution are requests for financing from customers, prospects for future monetary and economic conditions, as well as the level of business competition from other banks,” said Executive Director of the BI Communication Department Erwin Haryono in an official statement, Monday (19/19/2019). 12/2022).

He said, overall for the fourth quarter of 2022, new credit growth is expected to increase compared to the previous quarter.

“The SBT value for new credit distribution is estimated at 89.1 percent, higher than 84.5 percent in the third quarter of 2022,” he said.

Meanwhile, demand for corporate financing indicated positive growth in November 2022. Erwin said this was reflected in the WNB for corporate financing of 13.2 percent.

Furthermore, the majority of sources of financing were met mainly from own funds, followed by the addition of new loans to domestic banks, the use of concessional withdrawal facilities, and loans/debt from parent companies. Then from the household side, it is indicated that new financing requests will grow positively in November 2022.

“The majority of households chose commercial banks as the main source of additional financing, which was observed to have increased compared to the previous month,” he explained.

Multi-Use Credit is the type of financing that most households apply for. Meanwhile, other sources of financing are the preference of respondents to meet financing needs, including cooperatives and leasing.