SMEs Financing Amid The Financial Crisis : The Case of SMEs Financing Amid The Financial Crisis : The Case of IndonesiaIndonesia金融危机下的中小企业融资：印度尼西亚的经验金融危机下的中小企业融资：印度尼西亚的经验

Khairil AnwarHead of Rural Bank & MSME Development Bureau

Central Bank of Indonesia印尼央行农村金融与中小企业发展局

Sharing for workshop on improving access to finance for SMEs in the Asia-Pacific Region:

Shanghai, China, 8 -12 June 2009 改善亚太地区中小企业融资渠道国际研讨会中国上海， 2009 年 6 月 8-12

• Overview of Financial Providers to MSMEs in Indonesia 印尼中小企业金融服务提供商概览• Indonesia Banking Sectors Overview 印尼的银行体系概览• Lesson learned : 1997/1998 crisis 1997/1998 亚洲金融危机的教训• Impact of 2008 Crisis to Banking sector, MSME and Indonesian economy 2008 经济危机对银行业、中小企业以及印尼经济的影响• Rural Bank Strategy in Responding to Global Financial Crisis 应对全球金融危机的农村金融策略• Policy and Regulation to Lessen Impact of Global Financial Crisis 减轻全球金融危机影响的政策与措施• Promoting Banking Intermediary to Microfinance as an Intermediary Milestones to reach

the Unbanked People 推动银行中介机构进行小额贷款，以覆盖无银行服务的群众

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OUTLINE OUTLINE 概述概述

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Bank银行

NonBank非银行金融机构

FINANCIAL SERVICE PROVIDERS OF FINANCIAL SERVICE PROVIDERS OF MSMEs MSMEs 中小企业金融服务中小企业金融服务提供商提供商

商业银行

农村银行

储蓄和贷款合作社 典当铺 金融租赁公司

钱庄

非银行机构

INDONESIAN BANKING SECTOR OVERVIEW INDONESIAN BANKING SECTOR OVERVIEW 印尼银行体系概述印尼银行体系概述

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Number of Banks (as of March 2009): 银行总数（截至 2009 年 3 月）No. Category 分类 Total Banks银行总数 Total Offices办事机构总数

1 Commercial Banks (conventional) 传统商业银行 123 12.0472 Rural Banks (conventional) 传统农村银行 1.768 3.4083 Sharia Commercial Banks : 伊斯兰商业银行：

- Sharia Commercial Banks 伊斯兰商业银行- Sharia Business Unit of Commercial Banks 商业银行的伊斯兰业务部

526 635253

4 Sharia Rural Banks 伊斯兰农村银行 133 208

Grand Total 汇总 2.055 16.551

1997/1998 crisis

Refocusing of Central Bank Policy based on New Bank Indonesia Act No.

23/1999•Single objective : to reach and to maintain the stability of rupiah.•Bank Indonesia as lender of the last resort.•Bank Indonesia shall no longer extend financial assistance (credit program) to SME, because Com.Bank able to mobilized funds.

Mon.Crisis (liq.squeeze)

Banking Crisis (16 Banks

closed)

Political Crisis (President stepped down)

Some policy responses on SME• Advise banks to

allocate part of its lending to SMEs and state it in the business plan submitted to BI and publish the disbursement quarterly in the media.

• Encourage bank to lend to SME via Rural Banks and other MFIs.

• Provide technical assistance for bank officers and Business Development Services Provider (BDSP).

• Publish some leniencies in prudential regulation to push bank lending to SME.

LESSON LEARNED : 1997/1998 CRISIS LESSON LEARNED : 1997/1998 CRISIS 1997/19981997/1998 亚洲金融危机的经验教训亚洲金融危机的经验教训

LESSON LEARNED : 1997/1998 CRISISLESSON LEARNED : 1997/1998 CRISIS亚洲金融危机的经验教训亚洲金融危机的经验教训

1997/1998 危机货币危机

基于 1999 年新印尼央行法案第 23 条，印尼央行做出新调整：唯一目标：维持卢比的稳定性；明确印尼央行为最终贷款人；印尼央行不再对中小企业提供金融援助（信贷计划），因为商业银行能调动资金。

中小企业的应对：建议银行分配部分贷款资金给中小企业，并在提交给 BI的商业计划中说明，每季度向媒体公开；鼓励银行通过农村银行和其他小额金融机构向中小企业贷款；向银行职员和商业开发服务提供商提供技术援助；公布宽容而审慎的管理制度，鼓励银行向中小企业贷款

货币危机（流动性紧缩）银行业危机（ 16 家银行倒闭）

政治危机（总统下台）

LESSON LEARNED : 1997/1998 CRISIS LESSON LEARNED : 1997/1998 CRISIS (CONT.)(CONT.)

2008 Financial Crisis• SMEs become more resilient

• SMEs credit keeps a good performance

• Most SMEs are domestic-market-oriented less impact of financial crisis

271.1

369.9428

524.2

660.7332663.797

2004 2005 2006 2007 2008 Mar-09

The outstanding (T Rp) & growth (%) of SME credit

g=23%

g=26%

g=16%g=31%

g=31%

Q IV 2007 Q I 2008 Q II 2008 Q III

2008Q IV

2008 Q I 2009

NPLs SME 3.68% 3.89% 3.60% 3.31% 3.22% 3.67%

NPLs Banking 4.15% 3.85% 3.62% 3.40% 3.33% 4.00%

0.00%0.50%1.00%1.50%2.00%2.50%3.00%3.50%4.00%4.50%

NPL of SME Credit & Commercial Banking Credit

NPLs SME NPLs Banking

Impact on SMEs• Financing to SME mostly provided

by banks.• Amount of bank business plan &

its disbursement are increasing from time to time.

• Market mechanism in SME financing (no subsidy, market interest rate)

LESSON LEARNED : 1997/1998 CRISIS (CONT.) LESSON LEARNED : 1997/1998 CRISIS (CONT.) 亚洲金融危机亚洲金融危机的经验教训的经验教训

20082008 年金融危机年金融危机• 中小企业更有弹性中小企业更有弹性• 中小企业信贷表现良好 中小企业信贷表现良好 • 绝大多数中小企业是国内导向，绝大多数中小企业是国内导向，因而受金融危机影响较小因而受金融危机影响较小

271.1

369.9428

524.2

660.7332663.797

2004 2005 2006 2007 2008 Mar-09

The outstanding (T Rp) & growth (%) of SME credit

g=23%

g=26%

g=16%g=31%

g=31%

Q IV 2007 Q I 2008 Q II 2008 Q III

2008Q IV

2008 Q I 2009

NPLs SME 3.68% 3.89% 3.60% 3.31% 3.22% 3.67%

NPLs Banking 4.15% 3.85% 3.62% 3.40% 3.33% 4.00%

0.00%0.50%1.00%1.50%2.00%2.50%3.00%3.50%4.00%4.50%

NPL of SME Credit & Commercial Banking Credit

NPLs SME NPLs Banking

对中小企业的影响对中小企业的影响• 对中小企业的融资主要来自于对中小企业的融资主要来自于银行银行• 银行商业计划以及支出在不时银行商业计划以及支出在不时的增加的增加• 中小企业融资的市场机制（没中小企业融资的市场机制（没有补贴或市场利率）有补贴或市场利率）

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• The Indonesian banking sector remains strong as indicated by high CAR levels (18.03%), the increase of deposits and low of NPLs (<5%)

印尼银行业运行良好，指标显示，资本充足率高（ 18.03% ），储蓄上升，不良资产低（ <5% ）• Bank placements in SBIs (bonds issued by Bank Indonesia) experience

an upsurge as credits fall. 随着信贷的下降，印尼央行发行的债券的执行率经历了猛涨

Selected Commercial Banking Indicators 选定的商业银行业务指标

IMPACT OF 2008 CRISIS TO COMMERCIAL BANK 2008 金融危机对商业银行的影响

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Source: Indonesian Banking Statistics 来源：印尼银行业数据

Indicator type类型 Mar-08 Apr-08 May-08 Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09

Total Asset (T Rp) 总资产 1,944.7 1,949.4 1,972.6 2,040.8 2,018.8 2,024.8 2,125.4 2,235.0 2,303.4 2,310.6 2,308.0 2,343.7 2,352.1 Deposits (T Rp) 储蓄率 1,466.2 1,482.0 1,505.7 1,554.2 1,535.0 1,526.0 1,603.5 1,675.0 1,707.9 1,753,292.0 1,748.8 1,771.1 1,786.2 Credits (T Rp) 信贷 1,036.1 1,061.8 1,096.2 1,148.4 1,166.6 1,205.8 1,246.1 1,297.9 1,325.3 1,307.7 1,289.8 1,301.8 1,305.4 SBI (T Rp) 银行发行的债券 162.1 169.6 148.7 113.7 95.5 84.5 87.7 124.4 152.3 166.5 208.5 216.5 208.1 CAR (%) 20.52 19.39 18.26 17.58 17.44 17.1 17.26 16.7 16.77 16.76 17.82 18.04 18.03

NPLs Gross (% 不良贷款总额 ) 3.75 3.82 3.76 3.54 3.50 3.42 3.32 3.34 3.49 3.20 3.59 3.72 3.93ROA (%) 资产利润 2.72 2.56 2.62 2.53 2.68 2.71 2.64 2.68 2.60 2.33 2.69 2.60 2.76

LDR (%) 70.66 71.65 72.80 73.89 76.00 79.02 77.72 77.48 77.60 74.58 73.76 73.50 73.08No of Banks 银行总数 128 128 128 127 127 127 126 126 126 124 123 123 123

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Selected Rural Bank Indicators 选定的农村银行指标IMPACT OF 2008 CRISIS TO RURAL BANK INDUSTRY

2008 金融危机对农村银行业的影响

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1. In general, rural bank industry presented good performance as indicated by increase in total asset, loan and third party fund.

总体而言，就资产总额、贷款额以及第三方资金来看，农村银行业表现良好2. The increase of NPL in the 4th quarter of 2008 was mainly because of a problem in one big

rural bank due to a mismanagement and fraud, as well as the decline in commodity prices. Once this problem was settled, the NPL ratio is improved, as showed in the 1st quarter of 2009.

2008 年第四季度不良资产的上升主要是由于某个大型农村银行的管理不善和欺诈以及商品价格的下降造成的。一旦这些问题被解决，不良资产率得到改善，正如 2009 年第一季度数据所示。3. There was a decrease in the commercial bank placement due to the liquidity squeeze in

commercial banks. This was the significant impact of the crisis to the rural bank industry liquidity.

由于商业银行的流动性紧缩，出现银行人员配置下降。金融危机对农村银行流动性的影响巨大。

Indicator type指标类型 Mar-08 Apr-08 May-08 Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09

Total Asset (B Rp) 总资产 28,693 29,865 30,374 30,317 31,059 31,356 31,900 31,963 32,086 32,533 32,239 32,703 32,681 Deposits (B Rp) 储蓄率 19,572.0 20,249.0 20,435.0 20,195.0 20,691.0 20,640.0 20,712.0 20,796.0 20,961.0 21,339.0 21,528.0 21,917.0 21,790.0 Credits (B Rp) 贷款率 21,607.0 22,851.0 23,587.0 23,877.0 24,400.0 25,099.0 25,701.0 25,636.0 25,746.0 25,472.0 25,404.0 25,888.0 25,336.0 Interbanks 银行间流动 3,349.0 3,584.0 3,799.0 3,947.0 4,036.0 4,182.0 4,458.0 4,358.0 4,236.0 4,214.0 4,112.0 4,105.0

22.40 22.33 21.99 22.43 22.63 23.34 24.13 23.54 25.10 NPLs Gross (%) 不良资产总额 8.08 7.66 7.46 7.35 7.17 7.04 6.94 9.68 9.95 9.88 10.30 10.32 7.50ROA (%) 资产利润 3.53 3.86 3.74 3.58 3.55 3.60 3.42 3.40 2.91 2.61 -9.74 -3.11 3.43LDR (%) 78.15 76.85 81.25 82.55 82.55 84.33 85.17 84.77 84.79 82.54 81.65 82.18 80.91No of Banks 银行总数 1,811.00 1,812.00 1,811.00 1,790.00 1,795.00 1,796.00 1,782.00 1,768.00 1,769.00 1,772.00 1,767.00 1,768.00 1,768.00 Source: Indonesian Banking Statistics 来源：印尼银行业数据

Decreasing in domestic Decreasing in domestic demanddemand国内需求下降国内需求下降

IMPACT OF 2008 CRISIS TO SMEs• The The declinedecline of commodity of commodity

priceprice 商品价格下降 商品价格下降 • The declineThe decline in non oil in non oil

export export transaction transaction (tradable goods)(tradable goods)

including including the the exportexport transaction oftransaction of SMEs SMEs非石油出口交易的下降（可非石油出口交易的下降（可交易商品），包括中小企交易商品），包括中小企业的出口交易业的出口交易

Decreasing in Decreasing in production ofproduction of other product (non tradable other product (non tradable goods, such as from goods, such as from Trade, Construction, Transportation & Trade, Construction, Transportation & Communication, Financial and Services Communication, Financial and Services )) Including Including those of those of domestic-oriented & export-linkeddomestic-oriented & export-linked SME SME其他产品产量下降（如来自贸易、建设、交通、通讯以及金其他产品产量下降（如来自贸易、建设、交通、通讯以及金融服务业的不可交易产品 ）融服务业的不可交易产品 ）包括国内导向以及与出口相关的中小企业包括国内导向以及与出口相关的中小企业

Decreasing in production Enterprises efficiency

(i.e. lay off)生产缩减企业效率（即裁员）

• Some more resilient SMEs: in retail trading, Hotel & Restaurant, Food & Beverages , and fashion. 更有生存能力的中小企业：零售行业、宾馆饭店、食品饮料以及时尚

• Most SMEs are still optimistic about the economy condition and their future business 大多数中小企业对于经济形势以及未来的生意仍然充满信心

Survey on SMEs*关于中小企业的调查

Some Macro Economy Target 一些宏观经济目标

经济增长 通胀率SBI 率汇率（卢比兑美元）

Some obstacles of SMEs 中小企业的一些障碍

RURAL BANKS STRATEGY IN RESPONDING TO GLOBAL FINANCIAL CRISIS农村银行应对全球金融危机的策略

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1. During the crisis period, rural banks have slowed down their operation. This was indicated by some ratios in the 4th Quarter of 2008, such as the increase in CAR of rural banks which mainly due to the decrease of weighted risk asset. Also, there was a decrease in LDR to become 80.91% by the end of March 2009 (in September 2008 it was 85.17%).

危机期间，农村银行减缓了运作。 2008 年第 4 季度数据表明，例如农村银行资本充足率的增加主要是因为风险资产的减少。同时， LDR 减少到 2009 年 3月的80.91% （ 2008 年 9月的数据为 85.17% ）2. Rural bank was also more selective in distributing loan by

considering the secure sectors (for example not directly link to export business).

农村银行在分配贷款时更有选择，要考虑到安全的行业（例如，与出口产业没有直接联系的行业）3. Rural banks which implement personal approach and focus to their

community are able to hold rush of third party fund. 实施个人法和关注他们社区的农村银行能够控制第三方资金

POLICY IN LESSENNING IMPACT OF THE GLOBAL FINANCIAL CRISIS TO SMEs减少全球金融危机影响对中小企业影响的政策

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I. Policy and Regulation to Commercial Bank 商业银行的政策措施a. Adjustment on Commercial Bank Reserve Requirement (9% to 7.5%)

调整商业银行的准备金水平 （ 9% 到 7.5% ）b. Extension of SWAP transaction period (7 days to 1 month) 延长 SWAP 交易的时间（ 7天到 1 个月）c. New regulation on foreign exchange transaction 外汇交易的新规章d. Adjustment on existing regulation on short term foreign loans 短期外汇借贷的现行制度的调整e. Adjustments to current regulation on Bank Indonesia Short Term Funding Facility (FPJP) for commercial banks

对印尼央行现行的短期商业银行资金提供机制的制度调整II. Policy and Regulation to Rural Bank 农村银行的政策措施

a. Issuing short term funding facility for rural banks 对农村银行开设短期资金提供机制b. Leniency in providing provision of loss productive asset on fund placed at other banks which is under special survellaince

对于生产性资产损失条款给予更多的宽容，这样的资产以资金形式保存在其他受到特别监督的银行

III. Regulation to Expand credit to MSME 增加中小企业信用的措施a. Reducing Risk-weighted Assets on credit for MSME (e.g. For

Credit for the People scheme, Housing loan and personal loan)b. Credit performance of loan up to IDR 1 billion (USD 50,000) is

based only on prompt repayment of principal and/or interestIV. Deposit Protection Scheme 储蓄保护措施 Increase the limit of guaranteed deposits in banks from Rp100

millions to Rp2 billions 将银行保险储蓄限制从 Rp1亿增加到 Rp20亿V. Interest rate 利息率 BI has gradually decreased the benchmark interest rate (BI Rate)

from 9.5% on November 2008 to 7% on June 2009 (250 base points)

印尼央行逐渐降低基准利率，从 2008 年 11月的 9.5% 到 2009 年 6月的 7% （ 250 基准数）

POLICY IN LESSENNING IMPACT OF THE GLOBAL FINANCIAL CRISIS TO SMEs (cont)减少全球金融危机影响对中小企业影响的政策

Promoting Banking Intermediary to Microfinance as an Intermediary Milestones to Reach

the Unbanked People

推动银行中介机构进行小额贷款，以覆盖无银行服务的群众

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The “Unbanked”无银行服务的群体

Promoting Banking

Intermediary to Microfinance促进微型金融的银行中介方法

Reinforce the competitiveness and institutional structures of rural banks加强农村银行的竞争力和机制建设

Improve access to MSMEs credit and financing改善中小企业信用和融资的渠道

Approaches to Promote Banking Intermediary to Microfinance促进微型金融的银行中介方法

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Reinforce the Competitiveness and Institutional Structures of Rural Banks加强农村银行的竞争力和机制建设

• Strengthen linkage program between commercial banks and rural banks

• 加强商业银行同农村银行之间的联系计划• Simplify process for opening

branch offices of rural bank• 简化农村银行开设支行的手续

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• Facilitate establishment and monitoring of regional guarantee schemes for loan and financing

• 支持设立以及监管借贷和融资的区域担保计划• Encourage banks to extend

financing to MSMEs with focus on low income people and rural communities

• 鼓励银行银行增加对中小企业的融资，并专注于低收入人群与农村社区

Improve access to MSMEs credit and financing改善中小企业信用和融资的渠道

Policy and Regulation of

Financial Inclusion金融包容性的政策措施

Improve Public Awareness改善公众意识

Aims of policy and regulation of financial inclusion金融包容性的政策措施的目标

Improve Public Acess改善公众参与途径

Transparency on characteristics of Financial Product & Services;金融产品与服务性质的透明化- Benefits 收益- Risks 风险- Costs 成本Robust consumer protection 良好的消费者保护

Creating a credible database of “unbanked” individuals: Financial Identity Database创建可信赖的“无银行服务群体”的数据库：金融身份数据库

Promoting banking intermediary to microfinance as a step stone to the “unbanked”促进通往微型金融的银行中介，以服务“无银行服务”群体

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The Relationship: FIN, CIN, and DINFIN, CIN 和 DIN之间的关系

Customer Identity Number (CIN)消费者身份号码

Creditors(Banked Individuals) 债权人（有银行服务）

Debtors (Banked Individuals) 债权人（有银行服务）

Debtor Identification Number (DIN)债务人身份号码

Financial Identity Number (FIN)金融身份号码

- Accomodated in the Debtor Information System (DIS) managed by Bank Indonesia

-安置后的债务人信息系统，由印尼央行管理- under improvement 需要改进

• From FIN to CIN then DIN 从 FIN 到 CIN 然后• FIN will be the complement to DIN / CIN FIN 会成为 DIN 和 CIN 的完成

Unbanked Individuals无银行服务人员

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End of Presentation演讲结束Thank You

谢谢

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