JAKARTA. The government again offers another Government Bonds (SUN) instruments in the form of the SBR007 series savings bond retail (SBR) with an attractive coupon rate of 7.5%. The offer of this instrument has become a competitor of banks and also reduce liquidity.
The data from Bank Indonesia (BI) showed that as of May 2019, third-party funds (TPF)in banks only grew by 6.7% YoY. At present, one-year bank deposits (deposits) have an average interest rate of 6%. As a result, the presence of SUN issued by the government, such as SBR007, will make banking liquidity tighter.
Deputy Managing Director of PT Bank Negara Indonesia Tbk (BBNI), Herry Sidharta, said that as one of the SBR selling agents, BNI agreed that this would have an impact on the growth of TPF that was now in a slowing trend. "It is our duty to develop a strategy and minimize the impact on TPF target achievement plans," Herry said as quoted by KONTAN, Wednesday (10/7).
The effort that can be taken is to prioritize sources of funds from existing customers. Another way is to acquire new customers. In this way, Herry is optimistic that Bank BNI's TPF growth can reach 12% -14%, just like the target.
Consumer Director of PT Bank Tabungan Negara (BBTN) Budi Satria stated that it was natural for the public to prefer SBR rather than deposits because it was more attractive. As a result, BTN's strategy to maintain DPK growth in the range of 16% YoY this year slightly shifted.
According to Budi, his party will utilize its customer base to explore potential deposits from partner banks and other institutions. In addition, BTN will also continue to encourage the growth of retail funds, especially savings. (AM/AR)