The bond tax cut doesn't seize financial institution funds


Banking is positive that the Ministry of Finance's efforts to chop bond pastime charges (PPh) from 15% to 5% won't create a fight for public funds.

Moreover, increase and third-party banking are in a downward pattern this year. Bank Indonesia recorded deposits increase in April 2019 was basically 6.6% (yoy), whereas in March 2019 it was 7.2%.

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However, a few bankers dismissed the thought that there was a fight for public funds. PT Bank Central Asia Tbk (BBCA) President Director Jahja Setiaatmadja for instance said that NULL bond merchandise are truly other from long run third social gathering money in banks within the sort of deposits. So that within the give up there was no fight for money over the cut within the PPh pastime on bonds.

"The investment tools are different, bonds are longer in number. While deposits can normally be stored for basically three months, as the community, for example, is over money. Now for such an instance it's now not proper to purchase bonds. In the give up it ought to be according to their respective needs, "he said when met through Kontan.co.id final week.

As of April 2019, the greatest third social gathering financial institution (DPK) sequence in Indonesia has reached Rp 637.89 trillion with a composition of 76.85% of low cost funds. BCA Third Party Funds greater 8.32% in contrast to December 2018 function price Rp 588.85 trillion, with the composition of low cost money amounting to 77.54%.

While till the give up of the year, Jahja expected that BCA's TPF increase concentrated through the brand might attain 7% -8%.

In line with Jahja, President Director of PT Bank Mayapada Tbk (MAYA) Hariyono Tjahjarijadi also said the similar thing, according to him bonds and deposits truly have other markets.

"Maybe there may be influence, but bonds and deposits have their very own markets," he said.

While as of May 2019 the sequence of Bank Mayapada deposits has reached Rp 72.81 trillion with a composition of low cost money of 25.53%. This price grew through 7.72% (yoy) in contrast to deposits in May 2018 price Rp. 67.58 trillion with low money of 21.52%.

Meanwhile, till the give up of the yr Bank Mayapada has concentrated increase in deposits within the differ of 9% -10%.

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