Behind the Placement of Rp 100 Trillion in Funds to Banks, Is Credit Demand Growing?

JAKARTA, KOMPAS.com - Finance Minister Purbaya Yudhi Sadewa has placed funds from the Budget Balance (SAL) worth Rp 100 trillion into state-owned bank conglomerates (himbara) before Eid al-Fitr.

This policy is said to help banks loosen liquidity, which is currently deemed tight. This is because demand for bank credit is also said not to have fully recovered yet.

Banking observer and Senior Vice President of the Indonesian Banking Development Institute (LPPI), Trioksa Siahaan, explained that the purpose of the government placing these funds is to give banks liquidity flexibility to purchase Government Securities (SBN) or expand credit.

“Himbara can utilise these funds for productive activities,” he told Kompas.com on Thursday (26/3/2026).

He added that such banking activities will also support government programmes, both in terms of purchasing SBN and channelling productive credit.

Currently, Trioksa sees no signs of improvement in credit demand.

Thus, the short-term goal of placing the Rp 100 trillion funds is to prevent SBN yields from rising too high.

“Because the funds can be used to buy SBN,” he explained.

OJK’s Executive Head of Banking Supervision, Dian Ediana Rae, explained that the policy will also suppress interest costs within banking.

Recently, special rates or higher interest rates usually offered by banks to large depositors have fallen significantly.

“So the competition to chase funds among banks is not too fierce,” she said when met after the Oath-Taking of OJK Commissioners, on Wednesday (25/3/2026).

Dian explained that the effect of this fund placement will also help banks follow the Bank Indonesia rate (BI rate) more quickly.

In the process, when funds are used to buy government securities (SBN), it is temporary in nature.

“Well, it’s not left idle, right? It’s better to invest it at whatever percentage. But the ultimate goal of a bank is to provide credit,” she stated.

From a business perspective, bank credit disbursement is also more profitable because the interest rates offered can be above 9-10 percent.

Meanwhile, investment in SBN currently only yields around 6 percent.

Thus, Dian views that banks may place funds in SBN while waiting for credit demand.

“For example, when demand is high enough later, it won’t be used anymore (SBN), it might be liquidated,” she said.

In addition, by buying SBN, banks have also helped the state in terms of fiscal financing.

“That’s an effort, banks shouldn’t idle their money, right,” she concluded.