Credit Interest Potentially Back Down

PT Bank Central Asia Tbk (BBCA) state loan interest rates could back down on the rest of 2016 after a decline in Bank Indonesia interest 7-Day Reverse Repo Rate to five percent in September.

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BCA Director Santoso in Jakarta on Tuesday, said the actual current loan portfolio segments already perched in the single digits, for example, the consumer segment for the loan (mortgage) of 8.8 to 8.9 percent.

Supposedly with single-digit interest rates, demand for financing could be intensified, he said.

The decline in mortgage rates to one digit followed a series of monetary policy easing by the Bank conducted since the beginning of the year.

Before using the instrument 7-Day Reverse Repo Rate, the central bank lowered its benchmark interest rate by Bank Indonesia / BI Rate by 100 basis points, and decreased minimum legal reserve requirement by 150 basis points Primary.

Our interest rates will certainly continue to adjust. But keep in step, said Santoso.

Meanwhile, in the category of Commercial Bank Business Activities (BOOK) III, PT. Bank OCBC NISP Tbk also will lower lending rates for corporate segment amounted to 0.25 per cent from October 2016.

Same with the BCA, the decline in interest rates is in line with the decline in 7-Day (Reverse) Repo Rate. As from December 2015, OCBC Lending Rate has been decreased by 100 basis points.

We cut interest rates gradually. August we derived the retail credit. Then the corporation down 25 bps, came into force in October, said Director of OCBC Parvati Surjaudaja.

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