Wednesday, December 6, 2023

BNI's Credit Distribution for SOEs on Rise

The Jakarta Globe
November 21, 2023 | 6:17 pm
(Photo Courtesy of BNI)
(Photo Courtesy of BNI)

Jakarta. State-owned bank BNI said recently its credit distribution to fellow state-owned enterprises (SOEs) had been on the rise.

BNI reported that its credit distribution to SOEs had grown by Rp 6.3 trillion as of September 30 of teh current year. Credit distribution rose from Rp 91.6 trillion (December 2022) to Rp 97.9 trillion (September 2023). BNI attributed the increase to “strategic SOEs”, among others, the oil and gas firm Pertamina and the state logistics agency Bulog. BNI said it had also been supporting other SOEs such as the pawnshop Pegadaian and toll operator Jasa Marga.

Many SOEs have been gearing up for expansion since the beginning of the second semester, according to BNI's President Director Royke Tumilaar. This is expected to further drive Indonesia’s economic growth.

“Indonesian SOEs are beginning to grow. We are happy with this trend because SOEs have become a huge economic engine to the country,” Royke said in a statement.

Read More:BNI Indonesian Masters: Puig Rises, Jonathan Secures Spot

Royke also applauded today’s SOE governance. This led to a positive effect on BNI’s credit quality, in which the bank tries to strike a balance between credit growth and being prudent. He added: “BNI will proactively analyze projects that can bring added value for the economic growth, starting with the potential sectors in the SOE segment,” Royke said.

According to Royke, Indonesia’s economic growth is the third-largest in the G20, just behind China and India. The top banker added that Indonesia had kept inflation under control despite high global inflation. As of Sep. 2023, Indonesia’s inflation stood at 2.28 percent, the fifth-lowest among the G20 economies.

The development of the new capital Nusantara, coupled with efforts to speed up energy transition and bolster the national tech industry, are proof of Indonesia’s robust economy. 

“As a state-owned bank, we wish to maintain this optimism to spur positive sentiments among investors and economic stakeholders, both at home and abroad,” Royke said.

Read More:State-Owned Bank BNI Takes Home Two Awards from The Finance

Tags: Keywords:


News 2 hours ago

Indonesian Military Loses Combat Readiness Due to Outdated Weaponry: Expert

Indonesia's defense spending remains notably modest in the regional context, accounting for a mere 0.8 percent of the GDP.
News 7 hours ago

Access to Water Central in Prabowo-Gibran Campaign

Java Island, home to 56 percent of the population, holds a mere 4.5 percent of the national water reserves,
News 9 hours ago

Putin to Discuss Israel-Hamas War During Trip to Saudi Arabia, UAE

Putin will make the visit at a time when Russia wants to advance its role as a power broker in the conflict in the Middle East.
News 9 hours ago

House Confirms Appointment of 7 New Supreme Court Justices

The House’s Legal Affairs Commission dismissed the appointment of three ad hoc judges for the human rights tribunal.
Business 14 hours ago

United Tractors' Subsidiary Acquires 70% Stake in Nickel Companies Valued at Rp 3.22 Trillion

Danusa Tambang Nusantara (DTN), a subsidiary of United Tractors, has acquired a 70 percent stake in nickel companies SPR and SMA.

Popular Tag

Opini Title