Bank loans grow 22% as of November

JAKARTA: National banks disbursed loans amounting to about Rp 1,665 trillion (US$188 billion) as of early November, growing 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 have reached Rp 2,158 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.

Therefore, year-to-date, third party funds grew by 9.52 percent and 17.17 percent on a yearly basis. — JP