VIVAnews - Credit growth is predicted to be 15.6 percent or lower than Bank Indonesia's previous prediction of 18 to 20 percent. This is because the economic growth assumption determines the credit growth.
"This is not because of banks' pessimism," said the Deputy Governor of Bank Indonesia, Muliaman Hadad, on Monday, Feb. 23. But, he suspected that the banking industry will base its decisions on a lower economic growth figure.
According to Hadad, the 18 -20 percent of credit growth is based on an assumption on 5 percent economic growth. In fact for global economic growth, the IMF predicts a figure of 0.5 percent from 2.8 percent.
Hadad predicted that the credit slowdown will continue until the second quarter in 2009. "We will re-evaluate the banks individually, because sometimes they [banks] can raise the credit," he said.
Referring to the banking industry's profit that decreased in 2008, Hadad said that it was caused by the crisis. "The profit is still achievable. CAR [capital adequacy ratios] is still good, while NPL [non performing loan] is still relatively low," he said.
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Translated by: Ariyantri E. Tarman
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