Jakarta - The Financial Services Authority OJK predicts loan growth by the end of the year to be in the range of 4-5%.

"This is only October, November, December 2021 with the growth of bank loan on a year-to-date (ytd) basis of 3.12%, so we estimate loan growth this year will fall in the range of 4-5%," said OJK Chairman Wimboh Santoso in a statement through virtual press conference of the Financial Sector Stability Committee (FSSC) on Wednesday (27/10).

Furthermore, bank credit growth year on year as of September 2021, the distribution of credit is working capital credit growing 2.85%, investment credit 0.37%, and consumption credit 2.95%.

"This increased quite significantly compared to the end of the second quarter yesterday. And this is in line with the increase in community mobility due to the decline in COVID-19 cases and various government efforts to provide impetus for credit growth," he said.

The Capital Adequa