Significant Growth in Credit Card Distribution at the End of 2022

Finance

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Adi Ahdiat 30/01/2023 16:10 WIB

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According to a Bank Indonesia survey, the issuance of new credit cards by commercial banks strengthened in the fourth quarter of 2022, indicating a significant increase in the number of consumers.

Weighted Average Net Credit Card Disbursement Balance per Quarter (2019-2022)

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Significant Growth in Credit Card Distribution at the End of 2022

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Weighted Average Net Credit Card Disbursement Balance per Quarter (2019-2022)

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According to a Bank Indonesia (BI) survey, the disbursement of new credit cards from general banks grew significantly at the end of last year, indicating an increase in the number of consumers.

This is reflected in the Weighted Net Balance (WNB) of credit card disbursement realization, which reached 79.03% in Q4 2022, up from Q3 and the highest achievement throughout 2022.

Not only credit cards, but the disbursement of mortgage loans (KPR) and apartment loans (KPA), motor vehicle loans (KKB), and unsecured loans (KTA) also increased.

"Consumer credit grew higher, driven by almost all types of credit, except for multi-purpose credit which grew slowly," BI said in its Banking Survey report released on Friday (20/1/2023).

However, in Q4 2022, the WNB of working capital credit and investment credit grew lower than the previous quarter. This could affect banking policies in Q1 2023.

"It is predicted that there will be looser credit disbursement standards compared to the previous quarter, especially for working capital credit and mortgage loans," said BI.

"Meanwhile, credit disbursement policies are predicted to be looser compared to the previous quarter, especially in terms of credit approval timeframe and costs," it continued.

BI conducted this survey on approximately 40 general banks. Cumulatively, all respondents manage 80% of the total assets of national banking.

Data processing was done using the Weighted Net Balance (WNB) method, where respondents' answers are multiplied by their credit weight (total 100%), then the difference between the percentage of respondents who answered "increased" and "decreased" is calculated.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."