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Economy in brief: PermataBank, BCA maintain growth targets

Publicly listed private lenders Bank Central Asia and PermataBank are keeping their loan growth targets steady despite the continued domestic economic slowdown that risks non-performing loans

The Jakarta Post
Jakarta
Fri, June 19, 2015

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Economy in brief: PermataBank, BCA maintain growth targets

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ublicly listed private lenders Bank Central Asia and PermataBank are keeping their loan growth targets steady despite the continued domestic economic slowdown that risks non-performing loans.

Bank Central Asia (BCA) president director Jahja Setiaatmadja said the bank had factored the domestic economic slowdown into its loan growth target this year.

'€œWe aim for 12 percent on loan growth,'€ Jahja said, adding that in the first quarter of this year, BCA'€™s annual loan growth only hit 5.77 percent. The bank'€™s target is lower than the banking industry'€™s overall loan growth target this year that ranges from 15 to 17 percent.

Bank Permata president director Roy A. Arfandy said the bank was maintaining its loan growth target because it expected the business to improve in the future.

'€œWe'€™re keeping our 10 percent growth target,'€ Roy said as quoted by kontan.co.id. In the first quarter of this year, Bank Permata only booked annual loan growth of 7.18 percent.

In the second quarter of this year, most of the bank'€™s loans will be channeled to infrastructure, construction, manufacturing and supporting industries sector due to government'€™s project that are mostly focused on these sectors, according to Roy. '€œThese sectors will need big working capital loans,'€ he added.

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