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Indonesia's March loan growth accelerates to 9.2 pct y/y
May 18, 2017 / 8:38 AM / in 7 months

Indonesia's March loan growth accelerates to 9.2 pct y/y

JAKARTA, May 18 (Reuters) - Loans extended by Indonesian banks grew 9.2 percent in March from a year earlier, accelerating from February’s 8.6 percent pace, the central bank said on Thursday.

The banking industry’s ratio of non-performing loans fell in March to 3.00 percent of outstanding credits from 3.2 percent the previous month, Bank Indonesia (BI) said.

BI Governor Agus Martowardojo described the acceleration as still not optimal considering the central bank’s past monetary easing, which includes six benchmark rate cuts by a total of 150 basis points in 2016.

At a policy meeting that ended on Thursday, BI kept its benchmark interest rate unchanged at 4.75 percent, its level since October. (Reporting by Nilufar Rizki and Hidayat Setiaji; Writing by Gayatri Suroyo; Editing by Richard Borsuk)

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