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Official: Indonesian banks must lend more to meet loan growth target
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08:17, August 10, 2009

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All Indonesian banks need to get at least 10 percent increase to disburse 20 trillion rupiah (over 2 billion U.S. dollars) of loans each month initially targeted by the government, an Indonesian central bank senior official said on Friday.

Addressing a journalist workshop in West Java's capital city of Bandung, Wimboh Santosa, the Financial System Stability Bureau Head at Indonesian central bank (BI), said that Indonesian private banks face harder task to spur their loans compared with the government-run banks.

Most of Indonesian private banks' debtors are corporations that suffered from the impact of the ongoing financial crisis.

"As of June this year the private banks' loan grew slightly by 2.3 percent. It would need a lot of effort to make it grow by 10 percent. It would be better if they can comply with the loan growth target set by BI at 11 percent," Wimboh was quoted by the Detik.com as saying.

The 11 percent loan growth was considered essential to help the government fulfill this year's 4 percent economic growth target.

According to Wimboh, as of July, the private banks' loans slightly grew to 27.7 trillion rupiah (some 2.7 billion dollars).

Wimboh said that state-run and regional administration-run banks were apparently more progressive in disbursing loans as of July this year.

They had disbursed 41 trillion rupiah (4.1 billion dollars) and 14.7 trillion rupiah (1.4 billion dollars), respectively since the beginning of this year.

Source:Xinhua



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