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Mandiri says ‘no revision’ to loan growth target despite curbs
The bank's stance contrasts with those of Bank Indonesia (BI) and the Financial Services Authority (OJK), which have downgraded their respective national loan growth targets.
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Bank Mandiri president director Darmawan Junaidi held a press conference on Thursday where he announced that the bank would maintain its loan growth target for the year. (Bank Mandiri/Public relation team)
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tate-owned Bank Mandiri, the largest lender in the country by asset value, will hold its loan growth target at 6 percent for this year, in contrast to regulators' forecasts of a weaker performance.
Bank Mandiri president director Darmawan Junaidi said at a press conference on Thursday that the company was expecting certain industries that led loan growth in the first half of the year to continue leading it throughout the year.
According to Bank Mandiri material, the construction sector led loan growth in Java, while the palm oil industry led growth in Sumatra and Kalimantan.
“We remain optimistic that the growth will stay in line with the initial business plan. No revisions, especially downward revisions,” he said.
The bank's stance contrasts with those of Bank Indonesia (BI) and the Financial Services Authority (OJK), which have downgraded their respective national loan growth targets in response to the enactment of multi-tiered public mobility restrictions (PPKM).
BI lowered its forecast to between 4 and 6 percent this year, down from its previous forecast of 5 to 7 percent, while the OJK lowered its forecast to 6 percent from 7 percent.
Read also: Commercial banks stick with rosy credit growth expectations
