The increase was confirmed by a significant bump in the weighted net balance (WNB) of demand for financing to 16.6% from 8.2% in February 2021.
According to survey respondents, recent growth was driven by Manufacturing, Trade, Agriculture, Fishing and Forestry, Construction as well as Maintenance and Repair of Motor Vehicles to support operating activities, repay maturing obligations, and bolster recovery in the new normal era.
"The respondents also confirmed that most demand for financing would be met through a growing portion of internal funds, while the respective shares of domestic bank loans and affiliate loans shrank compared with conditions in the previous period," said BI Communication Department Head Erwin Haryono in a press release on Friday.
In terms of households, demand for financing in March 2021 was more subdued than conditions in the month earlier. Household financing was still dominated by commercial banks and multipurpose loans.
On the supply side, the latest survey indicated increasing new loan disbursements from the banking industry in March 2021, driven by all bank groups and loan types.
Taking this into account, new loan disbursements from the banking industry were expected to expand in the first quarter of 2021, as indicated by a 52.9% WNB of new loan disbursement