JAKARTA. Government stimuli are unlikely effective to improve credit allocation. The newest data from Financial Service Authority (FSA) showed that as of July 2016 the amount of undisbursed loan increased by 4.31% to IDR1,245 trillion on year on year (yoy) basis.

It was found that undisbursed loan in banks under the categories of General Bank Enterprise Activity (BUKU) III and IV or larger banks amounted to IDR1.151,80 trillion or 92.45% of total undisbursed loan in domestic banking sector.

As of July 2016, the larger banks also recorded the highest growth in terms of undisbursed loan. During the period the amount of undisbursed loan of BUKU III and BUKU IV increased by 11.48% and 13.32%, respectively.

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PT Bank Central Asia (BCA) recorded IDR161.09 trillion of undisbursed loan, or the highest among all banks. The number of BCA’s undisbursed loan grows by 7.72% in annual basis.

President Director of BCA Jahja Setiaatmadja said that recently number of debtors have returned their credits due to the drastical decrease in work capital needs. “This happened in all sectors”, Jahja said.

In July 2016, PT Bank Tabungan Negara (BTN) recorded the increase of undisbursed loan by 8.66%  to IDR13.65 trillion. Financial Director of BTN Iman Nugroho Soeko said that construction credit was the major contributor to  the undisbursed loan. “This was because the realization of construction credit follows the project’s progress”, Iman said.

Aside of credit construction, the BTN’s undisbursed loan was caused by the slow demand on housing credit, mainly at the high-level segment.

During the same period, undisbursed loan of PT Maybank Indonesia hiked by 22.54% to 32.19 trillion.

It is predicted that the number of undisbursed loan will continue to increase by the end of the year, because customers will tend to adapt wait and see stance in disbursing credit. “Demand for credit will remain slow, while customers have various choices in terms of credit price”, said President Director of PT Maybank Indonesia Taswin Zakaria.

Meanwhile, President Director of BCA Jahja Setiaadmadja mentioned that flow of tax amnesty repatriation funds may cause liquidity overflow. (Translator: Muhammad Farid)