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Maybank Indonesia pessimistic over double digit credit growth in 2017
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Maybank Indonesia president director Taswin Zakaria answer journalists' question on the sidelines of Maybank's Invest ASEAN 2016 event in Jakarta on Sept. 14. (JP/Anton Hermansyah)
L
ender Maybank Indonesia is pessimistic over credit growth next year and has said the double digit growth forecast by the central bank was too good to be true amid the weak real sector.
Maybank Indonesia has forecast credit growth at 7 to 10 percent next year and consumer loan growth at 10 percent, said the lender’s president director, Taswin Zakaria.
"Our corporate loans are still hampered by weak commodity prices, while in the consumer segment, especially mortgages and car loans, we see weak demand," he said in Jakarta during Maybank's Invest ASEAN 2016 event on Wednesday in Jakarta.
Regarding the infrastructure sector, which the government is currently focusing on, Maybank Indonesia will focus on loans to the subcontractors.
"Five percent of the Rp 117.5 trillion [US$8.89 billion] in loans in the first half were disbursed for infrastructure. We hope to see it increase further next year," Taswin said.
Bank Indonesia recently projected 11 percent target for credit growth for next year, mostly from the infrastructure and consumer sectors as it had eased the loan to value requirement. (ags)
