Purbaya Confident SAL Placement Can Drive 20% Bank Credit Growth

Jakarta, CNBC Indonesia - Finance Minister Purbaya Yudhi Sadewa has revealed that the placement of excess budget balances (SAL) in Himbara (state-owned) banks can stimulate bank credit growth.

Banking credit growth could potentially reach 20% following the implementation of these SAL placements.

“We are using the base money approach; as of the end of July, base money growth has reached 18.3%. If this trend continues, it is sufficient to create credit growth above 20 per cent. The latest data shows credit at 13.8 per cent,” said Purbaya when met by journalists at the DPR building on Wednesday (2/9/2026).

According to him, this figure has increased compared to previous periods, which can influence the liquidity system of the banking sector.

“This is an increase compared to before due to the influence of liquidity in our financial system,” Purbaya explained.

He chose to use the development of base money or M0 to read the liquidity conditions of the financial system, rather than using the ratio of liquid assets to third-party funds (AL/DPK).

Purbaya explained that base money in July 2026 grew by 18.3%, while in August 2026, it is expected to remain at around 18%.

“Base money (M0) has usually been quite effective in describing the liquidity situation of the entire financial system,” he added.