A financing supply and demand survey conducted by Bank Indonesia (BI) has indicated an increase in new credit distribution in August this year compared to the corresponding period of last year.

“This is primarily driven by the utilization of Home Ownership Credit (KPR) and other consumption credits, while Work Capital Credit (KMK) and Investment Credit (KI) is estimated to be stagnating,” Executive Director of BI’s Communication Department Erwin Haryono said in an official statement issued here on Friday.

Based on the banking groups, the growth of new credit distribution in August 2021 is estimated to have been seen in commercial banks and Regional Development Banks (BPD), he informed.

Meanwhile, credit distribution by Shariah Commercial Banks (BUS) slowed down, he said.

For the third quarter of 2021 as a whole, new credit distribution is projected to grow, though not as much as in the previous quarter, Haryono said.

In addition, the survey results show that corporate financing needs continued to grow in August 2021, though at a slower pace compared to the previous month, he added.

This is reflected from the weighted net balance (SBT) of 0.9 percent, which is lower than the 1.8 percent recorded in July 2021.

A number of sectors, such as mining, processing, and health services, were indicated to have financing needs that were not as high as the previous month on account of a reduction in operational activities, Haryono explained.

However, a number of sectors were indicated to have reported an increase in their financing needs, especially to support operational activities, obligatory payments, and investment activities.

These sectors were real estate, corporation services, as well as informatics and communication, he disclosed.

Source: Antara News