"It has led lending rates to show a down-ward trend," Hipmi Secretary General Harry Warganegara said in press statement released here on Sunday.
However, he said, the single-digit interest rate had not yet been directed to productive credits such as in the working capital and investment sectors.
"Mostly, lending still targeted the consumptive sector. We still do not see credits provided for the productive sector from state-owned banks. The country`s economy could be generated if the productive credit had the single digit interest," he said.
He said that several banks had provided single digit credits. These banks included bank BTN which imposed a single digit interest on its housing/apartment ownership credit scheme.
It imposed a credit interest rate of 9 percent on housing/apartment credits with a value of over Rp350 million and 9.75 percent on credits worth less than Rp350 million.(*)
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Editor: Jafar M Sidik
Copyright © ANTARA 2012
