The asset growth of Indonesian big lenders varied at the end of May amid a sluggish economic growth that pressures, according to the lenders' financial reports. (Antara Photo/Akbar Nugroho Gumay)

Top Banks Assets Keep Expanding in May

BY :TABITA DIELA

JULY 08, 2016

Jakarta. The asset growth of Indonesian big lenders varied at the end of May amid a sluggish economic growth that pressures, according to the lenders' financial reports.

State-owned Bank Negara Indonesia, the fourth-biggest lender by assets, saw the biggest bank-only asset growth in the period, the lenders latest report to central bank Bank Indonesia, showed.

BNI's asset, excluding those of its units, grew 26 percent to Rp 479.06 trillion ($36.32 billion) compared to the same period a year earlier.

Bank Tabungan Negara, the country's largest mortgage lender, came in second with 18 percent growth of its bank-only assets to Rp 180.59 trillion in May compared to the same period a year earlier. The lender's position raised to sixth from the ninth position a year earlier.

Bank Panin and Bank Danamon switched position with Panin moved upward one position to the seventh-biggest lender while its bank-only assets grew 11 percent to Rp 175.98 trillion as of May this year.

Here are Indonesia's biggest banks by assets by May 31, except for Bank Permata Indonesia —the subsidiary of Astra International and Standard Chartered Bank — whose latest report was for March.  The data excludes assets of the lenders' units.

1. Bank Rakyat Indonesia at Rp 825.41 trillion

2. Bank Mandiri at Rp 820.03 trillion

3. Bank Central Asia at Rp 605.75 trillion

4. Bank Negara Indonesia at Rp 479.06 trillion

5. Bank CIMB Niaga at Rp 229.75 trillion

6. Bank Tabungan Negara Rp 180.59 trillion

7. Bank Panin Rp 175.98 trillion

8. Bank Permata Indonesia at Rp 174.45 trillion

9. Bank Danamon Indonesia at Rp 146.85 trillion

10. Bank Maybank Indonesia Rp 149.31 trillion

Loans among Indonesia's 118 commercial banks only expanded 8 percent in the first five months of the year, slowing from double digit pace they recorded last year.

Bank Indonesia targets loan to grow 12 percent this year, expecting consumption demand to recover in the second half of 2016.

SHARE