BBCA - Optimistic credit target reaches 9%-10% yoy

BBCA - Optimistic credit target reaches 9%-10% yoy Bank Central Asia (BBCA) Finance Director, Vera Eve Lim, is optimistic about posting a positive performance in 2024. BCA is aiming for credit growth to reach 9%–10% in 2024. This credit target is in line with BCA's credit growth rate of 15.91%, or reaching IDR826.72 tn as of May 2024. BCA claims that credit growth is above the industry average of 12%. Meanwhile, the biggest contributors to BCA's total credit growth are the non-oil and gas financial services and mining sectors. "In the second semester of 2024, BCA will continue to encourage credit distribution in various sectors," said Vera. In maintaining asset quality, BCA also maintains an adequate allowance for impairment losses (CKPN), with an NPL coverage ratio of 220.3% and loan at risk (LAR) coverage of 71.9%. However, BCA will continue to monitor reserve costs in line with developments in asset quality and Indonesian economic conditions. In the future, BCA is committed to managing liquidity and distributing credit prudently, and the company will also continue to monitor the dynamics that occur in the market. (Source : Kontan).