Wednesday, December 14, 2011

Moody's: Indonesian banks stable   2011-12-14 13:14:46             
JAKARTA, Dec. 14 (Xinhua) -- Moody's Investors Service has said the outlook for Indonesia's 376 billion U.S. dollar banking sector remains stable, citing the nation's strong domestic economy that has helped to insulate lenders from the global economic turbulence, local media reported on Wednesday.
The international rating agency expects Indonesia's economy to expand by 6 percent next year, slower than the Indonesian government's 6.6 percent forecast and the central bank's 6.3 percent estimate.
The weakening economic growth will prompt the pace of bank lending growth to moderate to 18 percent to 20 percent in 2012 from 20 percent this year, according to Moody's, which cited " marginally-slower economic expansion and the banks' tightening liquidity in general."
Bank Indonesia forecasts lending at the nation's 120 commercial banks to rise 27 percent in 2012, up from an expected 24 percent increase this year.
Moody's has ratings on nine Indonesian commercial banks, including Bank Mandiri, Bank Rakyat Indonesia, Bank Central Asia and Bank Negara Indonesia.
Editor: Yamei Wang

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