Monday, 30 Safar 1444 / 26 September 2022

BTN to finance credits for 700,000 units of house in 2016

Jumat 11 Dec 2015 00:02 WIB

Red: Julkifli Marbun

BTN

BTN

REPUBLIKA.CO.ID, JAKARTA -- State owned lender PT Bank Tabungan Negara (BTN) hopes to finance credits for up to 700,000 units of house in 2016, up from 441,000 units in 2015.

"This year we help provide 441,000 units and next year up 700,000 units," Maryono, president director of the publicly traded bank, said here on Thursday.

Around 60-70 percent of the houses would be for middle to low income people with prices at around Rp110 million each, Maryono said.

He said the bank's credit disbursement is projected to grow 18-19 percent this year and in 2016, the credit expansion is expected to rise to 19-21 percent.

The ban's sources of fund include state budget, bonds, domestic and foreign mid and long term loans, he said.

He said the property sector is expected to grow in 2016 with the growing trend of the economy.

The challenge in the property sector next year is in the readiness of developers and construction companies, he said.

By September this year, BTN already financed Rp145 trillion worth of credits for 3.5 million Indonesian families.

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