FX.co ★ Indonesia’s Loan Growth Accelerates Slightly in March to 9.49% YoY

Indonesia’s loan growth edged higher in March 2026, with the annual expansion rate reaching 9.49%, up from 9.37% year-over-year in February 2026. The updated figures, released on 22 April 2026, indicate a modest but continued strengthening in credit demand across the economy.

The data are based on year-over-year comparisons, meaning the March 2026 reading measures loan growth relative to March 2025, while February’s figure is compared with February 2025. The uptick from 9.37% to 9.49% suggests that borrowing activity remained resilient at the end of the first quarter, potentially reflecting sustained momentum in consumption, investment, or both.

While the increase is incremental, the steady improvement in loan growth may be seen by markets as a sign of underlying confidence in Indonesia’s economic outlook, with credit continuing to expand at a solid pace on an annual basis.