JAKARTA. PT Bank Central Asia Tbk (BBCA) is restructuring loans reaching Rp65 trillion to Rp82.6 trillion from tens of thousands of debtors, until mid-May 2020, due to the covid-19 pandemic.
"We are currently restructuring loans to certain customers from each segment to reach recovery," Jahja Setiaatmadja, President Director of BBCA, said in a press release.
BBCA estimates that total restructured loans due to the covid-19 pandemic are equivalent to 10-14% of the total loan portfolio, amounting to Rp612.2 trillion. The restructured loans come from around 72 thousand debtors, or equal to 10% of the company's total debtors.
So far, BBCA sees the potential for an increase in the number of credit restructuring in the coming months. It is estimated that there will be more restructured loans, around 20-30% of total loans or 250 thousand to 300 thousand debtors.
As of the end of March 2020, BBCA's loan ratio was at the level of 1.6%. Meanwhile, the provision expense swelled 121.9% year on year (YoY) in Q1, due to lower loan quality during the pandemic. (KR/MS)