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FINANCE

Banks Competing to Reduce Cost of Funds

Banks are currently competing to cut their cost of funds so they can compete in offering loan interest.

Bank Central Asia (BCA) has cut its cost of funds. At the end of December 2017, cost of funds was 2.02 percent, declining 0.03 percent from the beginning of this year. However, the company’s cost of funds rose slightly from 1.97 percent when compared to the interest in December 2016. In 2017, third party funds (DPK) hit Rp 581.1 trillion.

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