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Indonesian Firms Demand More Loans to Buy Pandemic-Hit Assets

(Bloomberg) — Indonesia’s second-largest lender by assets says the nation’s companies are set to demand more loans, as they scoop up assets made cheaper by the pandemic.

Some buyers are interested in assets that have become available after the virus and measures to stem it hurt Indonesia’s economy, Alexandra Askandar, corporate banking director at PT Bank Mandiri, said in an interview last week. Growth in loans to large businesses will likely accelerate in the second half from an expansion of 3.4% in the first six months, she said, declining to give an exact target.

“There is demand for loans which have been triggered by this pandemic as some companies are selling their assets,” according to Askandar, 48. “Some of the financing that we provide is to support these acquisitions, such as for oil and gas assets, as well as power plants.”

Indonesia’s economy contracted for the first time in more

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