November 29, 2019 / 3:43 AM / 11 days ago

Indonesia's October loan growth slowest since September 2016

JAKARTA, Nov 29 (Reuters) - Indonesian commercial banks’ loans grew 6.53% year-on-year in October, the slowest pace since September 2016, data from the financial regulator showed on Friday.

Loan growth was recorded at 7.89% in September.

Growth slowed amid a contraction in the mining and construction sector in October, said Slamet Edy Purnomo, a Financial Services Authority (OJK) deputy commissioner for banking surveillance. (Reporting by Maikel Jefriando; Editing by Himani Sarkar)

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