JAKARTA, NNC - Listed private banking company Bank Central Asia (IDX:BBCA), also known as BCA, plans to raise its interest rates in all segments in the near future. The plan is set as a response on the raising of Bank Indonesia's benchmark interest rate.
Vera Eve Lim, Director of BCA, said the company will increase interest rates in the corporate, commercial, and micro small medium enterprises (MSME) segments. "We will adjust the interest rate for all segments by 25 basis points (bps)," she said during the 2018 Investor Summit in Jakarta, on Monday (08/27).
For consumer loans, such as home mortgages, BCA will increase the interest rate by 60 (bps). The company's motorized vehicle loan interst rate will also be raised by 50 bps.
Vera said the policy to raise loan interest rates was aimed at slowing down the growth of BCA's loan disbursements in the second semester of 2018, particularly the home mortgage and motorized vehicle loan segments.
"Demand will be lower, particularly for home mortgages and motorized vehicle loans," she added.
BCA had previously raised its deposit interest rates by one percent since April to August, 2018. The company plans to increase its deposit interest rate again by 25 bps.