JAKARTA - Bank Indonesia Banking Survey indicates that quarterly growth of new credit in the second quarter 2020 declined from the previous period, reflected in the weighted net balance (SBT) of new credit demand in quarter II-2020 of -33.9%, lower than 23.7% in previous quarter and 78.3% in quarter II-2019.
Based on the type of usage, the decline in new credit growth occurred in all types of credit, with the biggest decline in the types of investment credit. In the third quarter of 2020, new credit growth is predicted to increase, although not as high as the same period in the previous year.
The lending policy in the third quarter of 2020 is predicted to be more relaxed, as indicated by the Lending Standard Index (ILS) of 3.9%, lower than 35.5% in the previous quarter. Loaning standards for lending will be made for all types of credits, with aspects of the policy of lending to be relaxed, namely credit limit, collateral, and credit terms.
Survey results indicate slowing credit growth for the whole 2020. Respondents forecast credit growth in 2020 of 2.5% (yoy), lower than 2019 credit realization at 6.1% and forecasts for the previous period survey of 5.5% . (LM)