National banks have had Rp 1,665.32 trillion (US$180 billion) in outstanding loans as of early November, up 22 percent on a yearly basis, the latest Bank Indonesia (BI) data shows.
However, on a year-to-date basis, loan growth reached 16.44 percent, or about 6 percentage points below the central bank’s full-year target for loan growth at between 22 and 24 percent this year.
“Other than the upward trend in lending, banks’ third-party funds also grew,” BI spokesman Difi A. Johansyah said in a statement sent to reporters on Wednesday.
According to the new data, third-party funds had reached Rp 2,158.09 trillion as of Nov. 5, backed by a strong increase in rupiah savings and deposits, while foreign exchange funds slid in the first week of this month.
Third-party funds had thus grown by 9.52 so far this year, or 17.17 year-on-year.
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