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At its latest monetary policy meeting, which ended on 18 February 2021, the central bank of Indonesia (Bank Indonesia) decided to cut its benchmark interest rate (BI 7-Day Reverse Repo Rate), again, by 25 basis points (bps) to 3.50 percent, touching a historically low level. By doing so, Bank Indonesia reconfirmed its accommodative policy stance. However, it is also a clear signal that the negative impact of the COVID-19 crisis on the Indonesian economy is far from over, despite several ministers (including Coordinating Minister of Economic Affairs Airlangga Hartarto) expecting to see the return of positive economic growth, on an annual basis, in the first quarter of 2021. ....
Tunaikita Indonesias total of outstanding loan balances (including residential mortgage balances outstanding, personal loan balances and credit card balances) recorded a compound annual growth rate (CAGR) of 8.3% during the review period (2014-2018), reaching IDR$2,750.5tn ($191.18bn). The majority of loan balances outstanding are from personal loans; personal loan balances outstanding accounted for 79.2% of total balances in 2018, followed by home loans (17.8%) and credit cards (3%). The mortgage loans market was the fastest-growing market during the review period. The Indonesian lending space is dominated by Bank Central Asia (BCA), Bank Mandiri, Bank Tabungan Negara and Bank Rakyat. In the coming years, GlobalData expects the consumer lending market to grow at a slower pace due to economic headwinds. ....
Indonesia’s biggest lender BRI said to be planning $1b rights issue Photo by Bank Rakyat Indonesia Premium PT Bank Rakyat Indonesia, the country’s largest lender by assets, is exploring a plan to raise at least $1 billion through a rights issue, according to people with knowledge of the matter.The state-owned bank is working with advisers on the potential fundraising, which could take place as soon as the first half of this year, said one of the people, who asked not to be identified as the information is private. The lender plans to strengthen its capital base to prepare for potential acquisitions with the proceeds, the people said. ....
(Jan 7): PT Bank Rakyat Indonesia, the country’s largest lender by assets, is exploring a plan to raise at least US$1 billion through a rights issue, according to people with knowledge of the matter. The state-owned bank is working with advisers on the potential fundraising, which could take place as soon as the first half of this year, said one of the people, who asked not to be identified as the information is private. The lender plans to strengthen its capital base to prepare for potential acquisitions with the proceeds, the people said. Deliberations are ongoing and Bank Rakyat could still adjust the fundraising structure or even decide not to proceed, the people said. A representative for Bank Rakyat declined to comment on the fundraising plan, adding the bank’s focus is to maintain and improve performance and to play an active role in the national economy recovery program. ....