Aditya Suharmoko, Jakarta – Bank lending will grow at a slower pace than expected this year, but will accelerate next year as the economy recovers, says the central bank.

Lending may expand 17 percent next year, acting Bank Indonesia (BI) governor Darmin Nasution said Wednesday.

"This year lending will be lower than estimated. In October, lending grew by about 11 percent year-on-year. So full-year growth will likely be lower than our estimate of 15 percent," he said.

Darmin added that lending had a slow growth not only because lending rates remained high, but because businesses were still waiting before expanding.