Most Profitable Banks Gain from Indonesia Slowdown

Banks are benefiting from a slowing economy with high interest rates, reaching levels not seen since 2009. Major banks are cutting deposit rates as cash demand declines. Credit expansion has exceeded targets, prompting regulatory concerns. Unhealthy competition in deposit rates is noted, with some banks offering rates above the Deposit Insurance institution's limit. Banks face challenges in passing higher costs to loan rates.

What was the target for lending growth set by the Financial Services Authority?

What concerns were raised regarding the competition among major banks for deposit rates?