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Jakarta Post

OCBC NISP projects higher loan growth but remains in single digits

  • News Desk

    The Jakarta Post

PREMIUM
Jakarta   /   Mon, December 9, 2019   /  04:17 pm
The Jakarta Post Image
Institute for Development of Economics and Finance economist Bhima Yudhistira (third left), OCBC NISP president director Parwati Surjaudaja (center), and men's fashion apparel Men's Republic founder Yasa Singgih (right) address the media during OCBC's Coffee Morning Talk in South Jakarta on Friday. (The Jakarta Post/Robert Yota)

Private lender OCBC NISP has set a single-digit lending growth target for next year as uncertainty in the global economy is likely to continue to affect business activities in the country.  OCBC NISP president director Parwati Surjaudaja said in South Jakarta on Friday that loan growth would be between 7.5 percent and 9 percent next year but it would be higher than this year.  "We expect our loans to small to medium enterprises [SMEs] to reach double-digit growth, while loan growth for corporations is expected to stagnate at a single-digit figure," Parwati said. As of September, the OCBC distributed Rp 116.83 trillion in loans, a 1.91 percent increase from the same period last year. Furthermore, Parwati also informed that of the total loans, 57 percent were distributed to SMEs, 32 percent to corporations and the remaining 11 percent for spending. She al...