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Three big banks eye CASA growth as liquidity tightens

06 February 2019 02:45 PM  Company: PT. Bank Central Asia Tbk[BBCA]
Rp. 28,100  -25 (-0.09%)

JAKARTA. Three major banks, namely PT Bank Negara Indonesia Tbk (BBNI), PT Bank Mandiri (Persero) Tbk (BMRI), and PT Bank Central Asia Tbk (BBCA), are aiming to drive the growth of current account and saving account (CASA) this year due to the tightening of banking liquidity.

Bank Indonesia (BI) recorded a decline of CASA by 118 basis points (bps) from 56.02% in November 2018 to 54.84% in December 2018. On the other hand, the growth of deposits was recorded at 5.6% year on year (yoy) from November to December 2018.

BBNI Deputy Director Herry Sidharta said BBNI's CASA ratio is currently at 60%. "This year we will focus more on collecting CASA rather than deposits," Mr Sidharta said as quoted by Kontan.co.id, Wednesday (6/2). "That is the challenge," he added.

BBCA Director Santoso Liem said deposits will only serve as a balancer this year. As for the company's CASA ratio, Mr Liem said the company managed to maintain at 76.66% as of December last year. "[Deposits are] more as a balancer, because it will still follow the benchmark interest rate," said Mr Liem.

In late January BMRI also said it will eye the growth of CASA. BMRI Finance Director Panji Irawan said the company is taking this measure because the growth of third party funds is not as aggressive as in 2018. (KR/MS)

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PT. Bank Central Asia Tbk [BBCA]   Rp. 28,100   -25 (-0.09%)