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Jakarta Post

BCA cautious ahead of possible Fed rate hikes

  • Winny Tang

    The Jakarta Post

Jakarta   /   Thu, July 12 2018   /  03:06 am

The country’s biggest private lender, Bank Central Asia (BCA), maintained its loan growth target this year as its conservative outlook on credit demand remained unchanged amid possible Fed rate hikes.BCA president director Jahja Setiaatmadja said the bank’s loans grew 12 percent in the first half, above its target of 10 percent for this year.“It’s hard to predict loan growth toward the end of the year as we do not know how many times the [United States Federal Reserve] will increase its rate,” he said in Jakarta recently. “Thus, we will keep our loan growth projection in our corporate business plan unchanged at 10 percent.”The lender’s credit growth in the first half was supported by loan demand in all sectors, particularly corporate and consumer. From January to June, corporate loans surged 12 to 13 percent year-on-year (yoy), while the consumer segment grew 8 to 10 per...