Indonesia's loan growth accelerates in Nov - financial regulator

[JAKARTA] Loans by commercial banks in Indonesia expanded 8.5 per cent in November compared to a year ago, faster than the 7.5 per cent pace a month before, the Financial Services Authority (OJK) said on Friday.

The ratio of Non-performing loans (NPL) was 3.18 per cent of outstanding loans in December, OJK said. The central bank earlier this month said the average level of NPLs in the banking industry was 3.20 per cent in October.

The November data came earlier than expected. OJK usually puts out banking statistics with a two month delay.

Annual loan growth slowed from above 20 per cent during the commodities boom to just 6.47 per cent in September - the weakest pace since 2009. Since then, the pace has rebounded, and OJK has said loan growth during 2016 would be around 7-9 per cent.

REUTERS