BI Reveals New Credit Financing And Distribution Needs Increase

JAKARTA - Bank Indonesia (BI) recorded an increase in corporate financing needs in March 2024. This is reflected in the Weighted Net Balance (SBT) of corporate financing of 25.3 percent, higher than the SBT of 11.1 percent in February 2024.

Assistant Governor of the Communication Department of Bank Indonesia (BI) Erwin Haryono, explained that the increase in financing needs was driven by the needs of the Trade, Processing and Construction Fields (LU).

"The source of corporate financing mainly comes from its own funds, followed by the use of leniency facilities for withdrawals and financing from domestic banks," he said in a statement, quoted on Tuesday, April 30.

Erwin said that in the household group, 10.9 percent of respondents stated that there was a new need for financing in March 2024. The majority of household financing came from commercial banks with a share of 41.2 percent, an increase compared to the previous month which amounted to 39.8 percent.

According to Erwin, apart from banking, the main source of financing that is a household preference includes leasing and cooperatives.

Meanwhile, Erwin said that the distribution of new loans by banks in March 2024 was also indicated to increase with an SBT of 80.9 percent, higher than the February 2024 SBT of 54.1 percent.

Erwin said the main factors that affected the forecast for new credit disbursement in March 2024 were requests for financing from customers, prospects for monetary and economic conditions in the future, as well as levels of business competition from other banks.

"Overall in the first quarter of 2024, offers for new credit distribution from banks are predicted to continue to grow," he explained.

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