Bank Indonesia (BI) noted that corporate financing needs in February 2024 will increase. This is reflected in the Weighted Net Balance (WBT) of corporate financing which reached 11.1%. This figure is higher than the WNB in the previous month which was only 6.5%.
The increase in corporate financing needs is driven by increasing needs in the Agriculture, Information and Communication, and Real Estate Business Fields (LU). Corporate financing needs are mainly used to support operational activities and pay maturing obligations.
“Respondents said that financing needs were still being met mainly from their own funds (67.7%), which was higher compared to January 2024, followed by the use of withdrawal allowance facilities (9.7%), although lower than the previous month,” said the Assistant Governor, Head of Department. Bank Indonesia Communication Erwin Haryono, Thursday (21/3).
Meanwhile, financing from domestic banks is indicated to have increased compared to the previous month. Respondents stated that the reasons for choosing a source of financing were still influenced by aspects of ease and speed of obtaining funds as well as cheaper interest rates.
BI also released survey results showing an increase in new credit distribution by banks. The WNB for new credit distribution in February was recorded at 54.1%. This figure is higher than January WBT which was only 24.5%.
There is an indication that an increase in new credit disbursement occurred in all bank categories and in all types of credit.
“The main factors influencing the forecast for new credit distribution in February 2024 are demand for financing from customers, prospects for future monetary and economic conditions, as well as the level of business competition from other banks,” added Erwin. (Z-11)
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