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Again, BBRI lowers lending rates following Bank Indonesia decision

04 March 2021 08:22

JAKARTA. PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) again lowered the Prime Lending Rate (SDBK) for all credit segments, following the reduction in the BI7 Day Reverse Repo Rate to 3.5% by Bank Indonesia.

Sunarsono, President Director of BBRI, said that the SDBK reduction aims to support the national economic recovery program. In addition, the cost of funds for banks has decreased in line with the efficiency made through a number of digital transformations.

With the decline in SDBK, Sunarso is optimistic that household consumption and people's purchasing power can increase again. "Based on econometric analysis, the most sensitive variables or the highest elasticity to credit growth are household consumption and people's purchasing power," said Sunarso through an official statement received by idnfinancials.com.

After this decline, the SDBK non-KPR (Home Ownership Credit) BBRI changed to 8.75% from the previous 12%. Meanwhile, SDBK for the KPR segment fell to 7.25%, the micro segment to 14%, the corporate segment to 8%, and the retail segment to 8.25%.

According to idnfinancials.com data BBRI has also lowered loan interest rates between 75 basis points (bps) to 150 bps. Even for the credit restructuring program, BBRI lowered its interest rate by up to 500 bps. (KR/LM)

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