New credit distribution by banks in February 2024 is indicated to increase compared to the previous month. Bank Indonesia survey results show that the Weighted Net Balance (WBT) of new credit distribution in February was recorded at 54.1%. This figure is higher than January WBT which was only 24.5%.
There is an indication that an increase in new credit disbursement occurred in all bank categories and in all types of credit.
“The main factors influencing the forecast for new credit distribution in February 2024 are requests for financing from customers, prospects for future monetary and economic conditions, as well as the level of business competition from other banks,” said Assistant Governor to the Head of the Communications Department of Bank Indonesia Erwin Haryono, Thursday (21/ 3).
New credit distribution is projected to increase again in March 2024. This is indicated by the predicted WBT value for new credit distribution in March 2024 of 80.9%, and is predicted to occur in all bank categories, as well as in almost all types of credit, except other consumption credit.
The credit distribution policy (lending standard) in February 2024 is slightly stricter. This is indicated by the SBT change in lending standards in February 2024 which has a positive value of 0.4%.
Based on the type of use, a strict credit distribution policy is indicated for all types of credit. Factors influencing changes in lending standards in February 2024 include potential future credit risks, banks’ tolerance for risk, as well as current conditions/problems in the real sector. (Z-11)
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