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BCA chooses high margin over OJK incentive

Kamis, 21 Juli 2016 / 13:12 WIB

BCA chooses high margin over OJK incentive

JAKARTA. Public listed lender Bank Central Asia (BCA) is choosing to maintain its high level interest margin and ignore an incentive offered by the Financial Service Authority (OJK) to banks that are willing to cut their margins.

According to an OJK statement circulated in April, lenders whose net interest margin (NIM) is less than 4.5 percent because they are providing lower cost of funds for clients will be provided with a certain easing when opening new branches.

“We probably would not take the incentive. We will retain our NIM higher than 6 percent, as it is a comfortable level for our business,” BCA president director Jahja Setiaatmadja said during a press conference in Jakarta on Wednesday.

The bank actually has an increasing NIM at 7 percent as of June 2016, compared to 6.6 percent in the same period last year. According to Jahja, the high margin is still needed to remain competitive in the industry.

“The incentive is more suitable for banks that are currently in an aggressive stance for branch expansion. We are currently not expanding as much as before,” he said, adding that the bank has halved its expansion pace by opening only 40 to 50 small branches this year.

Jahja said he was not too optimistic about the economy this year, as the year-to-date loan growth retreated 0.2 percent. The loan to deposit ratio stood at 77.9 percent with non-performing loans increasing to 1.4 percent, from 0.7 percent in June 2015 because of the sluggish economy. (Anton Hermansyah)

Sumber : The Jakarta Post
Editor: Barratut Taqiyyah
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