Selasa 17 Sep 2013 12:20 WIB

Some banks to increase their lending rates

Rep: Satya Festiani/Mutia Ramadhani/ Red: Yeyen Rostiyani
A costumer passes sign of Bank BTN in Jakarta. Some banks plan to increase their lending rates after the central bank rise the benchmark it interest rate to 7.25 percent. (illustration)
Foto: Republika/Wihdan Hidayat
A costumer passes sign of Bank BTN in Jakarta. Some banks plan to increase their lending rates after the central bank rise the benchmark it interest rate to 7.25 percent. (illustration)

REPUBLIKA.CO.ID, JAKARTA - Some banks plan to increase their lending rates after Bank Indonesia (BI) increased its benchmark of interest rate to 7.25 percent. They are PT Bank Tabungan Negara (BTN), PT Bank Jawa Barat dan Banten (BJB) and PT Bank International Indonesia (BII) Finance Center.

One of state owned banking companies, BTN will rise its interest rates in the fourth quarter of this year. President Director of BTN Maryono said when company increased its lending rates by one percent, then value of repayments would rise to 100 thousand IDR per month.

"We expect to increase our lending rates by 0.5-1 percent, especially on Non Subsidized Mortgages (KPR Non Subsidi)," Maryono said on Monday.

The increasing BI rate followed by the increase cost of funds, banks must rise their interest rates. Maryono said his company would carefully rise interest rate for long term credit. But he admitted that he would see condition of customer’s ability.

President Director of BII Finance Center, Alexander said company was still optimistic to achieve its credit target. However, he refused to give number of increase of lending rates. It will be implemented on October 1, 2013.

"We will rise (lending rates)," Alexander said.

BJB plans to rise its lending rate this week. Head of Mortgage Division in BJB, Fermiyanti said the increase would vary between 150 and 200 basis points.

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