BANKING
Credit Interest Rate Down

A NUMBER of banks have cut their credit interest rate from 1.0 percent to 0.5 percent. PT Bank Mandiri launched this regulation last Tuesday, following the central bank’s step in reducing the Bank Indonesia Rate to 8.75 percent early this year.

Bank Mandiri Corporate Secretary Sukoriyanto Saputro said the cut was based on the overall credit rate calculation, while considering the growth pace of the real sector