Banking - Banking Sector

Banking - OJK optimistic ‘23F loan will grow double digits

12 Oktober 2023

Banking - OJK optimistic ‘23F loan will grow double digits After two consecutive months of consistently growing faster banking credit, the Financial Services Authority (OJK) is increasingly optimistic that banking credit can continue to grow to double digits by the end of the year. According to OJK, the increase in credit in the last two months was a positive indication for banks to be able to achieve their credit growth targets. Cycically, credit demand generally also increases at the end of the year, especially working capital credit. As of Aug23, banking credit grew by 9.06% yoy. (Source : Kontan). Comment : We believe loan growth to continue solid in the remaining months of this year and cummulative growth is likely to reach KBVs, market, BI and OJK expectation. We might see working capital to underpin the overall total loan growth, while consumer will play important role as well. Softened growth might occur as the upcoming election could muted loan appetite demand, despite it would not create massive impact to ‘23F figures.

Related Research

Banking & Finance
Banking Sector - Reasonable soften growth with solid risk metric...
Akhmad Nurcahyadi 07 Desember 2022 Lihat Detail
Banking & Finance
Banking Sector - Another solid monthly result
Akhmad Nurcahyadi 11 Juli 2023 Lihat Detail
Banking & Finance
Banking Sector - Cautiously optimistic
Akhmad Nurcahyadi 31 Maret 2023 Lihat Detail