Jakarta: The latest Supply and Demand Financing Survey pointed to growing demand for corporate financing in July 2021, albeit at a slower pace than one month earlier, according to Bank Indonesia (BI).
This was confirmed by a weighted net balance (WNB) of 1.8% down from 12.8% in June 2021.
Respondents reported growing demand for financing in several economic sectors, including Transportation and Storage as well as Health Services and Other Services, primarily to support operational activities and post-new normal recovery efforts and to service maturing liabilities, which increased on the previous period.
Meanwhile, demand for financing in several other sectors was observed to moderate as operational activities were pared back and investment plans postponed, particularly in terms of Agriculture, the Manufacturing Industry and Trade.
"Most demand for financing was still met through internal funds, as well as loans from domestic banks and parent companies," said BI Communication Department Head Erwin Haryono in a press release on Monday.
On the other hand, household demand for financing remained subdued in July 2021. Nevertheless, commercial banks were still the preferred source of household financing, dominated by Multipurpose Loans and Automotive Loans.
On the supply side, new loan disbursements by the banking sector in July 2021 maintained positive yet slower growth compared with conditions one month earlier.
All bank groups expected faster growth of new loans in July 2021, with respondents also predicting an acceleration of new lending in the third quarter of 2021, as indicated by a WNB of 63.1%.
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