Jakarta, CNBC Indonesia – The Financial Services Authority (OJK) said that up to now large corporations are not yet interested in new credit expansion despite the many stimulus packages that the government has provided.
Chairman of the OJK Board of Commissioners Wimboh Santoso emphasized that this phenomenon occurs in export-oriented corporations because market demand is still low so that corporations also do not operate fully.
“However, at this point in time, there has not been any movement for the corporate sector because there is no need for export in the company, so at this time the export is not visible, although there are signs in several countries that it has started. There are even corporations that have lowered their debit trays because they do not need large liquidity, due to small operations. so there is no need for large liquidity, “Wimboh said in a webinar, Friday (18/6/2020).
He said, until June 2020, bank credit growth reached 1.4% and increased in July to 1.5%. But unfortunately, until the end of August, credit returned to 1.4% year on year (YoY).
This decrease was mainly due to a decrease in the value of debit trays from corporations, especially in the West Java region. Economic growth in this region has also decreased due to many manufacturers that are not fully operational.
“This inevitably we think hard about raising corporations, especially in the West Java region,” he added.
This condition is in contrast to the demand for MSME credit, which is considered more enthusiastic. This is partly driven by the government’s partiality to MSMEs, starting from the placement of funds which are forwarded in the form of credit to MSMEs and credit guarantees borne by the government.
(hps / hps)
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