Banking Sector Braces for Rebound

The banking industry’s slump throughout last February is said to have been triggered by wait-and-see trend amid the election. Hence, as the election wraps up, chances of rebound grows larger.

Tim Redaksi

26 Mar 2024 - 16.52
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Banking Sector Braces for Rebound

Ilustrasi perbankan dan sistem keuangan. (Foto Bisnis)

Bisnis, JAKARTA — Banking customer activity throughout February 2024 tended to be sluggish amid the 2024 general election, along with slowing growth of  loans and third-party funds (TPF).

According to the Broad Money Developments report released by Bank Indonesia (BI), banking loans disbursed in February 2024 amounted to IDR7,047.1 trillion, growing by 11 percent year-on-year (YoY), slowing down from the previous month or January 2024, which grew by 11.5 percent YoY.

"The latest developments of disbursed loans were consistent with corporate borrowers (13.3 percent YoY) and individual borrowers (8.6 percent YoY)," BI wrote in its report released last Friday (22/3/2024).

The growth of loan disbursement to corporate debtors in February 2024 was observed to stagnate at 13.3 percent, while disbursements to individual debtors slowed down from 9.8 percent in January.

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Editor: Nindya Aldila
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Banking Sector Braces for Rebound

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