Development of CIMB Niaga KPR Targets

Lovata Andrean

CIMB Niaga is targeting mortgage growth of over 6 years
CIMB Niaga is targeting mortgage growth of over 6 years

Rancakmedia.com – Development of CIMB Niaga's KPR target above 6%. PT Bank CIMB Niaga Tbk is optimistic that the distribution of home ownership credit (KPR) this year will further increase with developments above 6%. In 2020, BNGA KPR payments will reach 5,9%, 2x that of national banks.

Heintje F. Mogi, Head of mortgage and indirect auto business. CIMB Niaga explained that signs of increase were visible in the first 2 months of 2021.

PT Bank CIMB Niaga Tbk is optimistic that KPR distribution this year will increase with growth above 6%. In 2020, BNGA KPR payments will reach 5,9%, 2x that of national banks.

Heintje F. Mogi, head of mortgage and indirect car business at CIMB Niaga, explained that signs of improvement were visible in the first 2 months of 2021.

Last January, the distribution of KPR debt reached IDR 700 billion. "If you look at last year, it was difficult to reach IDR 500 billion. "I see the signs are better," said Heintje in a virtual conference, Thursday (18 March 2021).

What about the development of CIMB Niaga's KPR targets?

Development of CIMB Niaga KPR targets

Heintje explained that distribution was still controlled by houses with a price range of IDR 700 million to IDR 1 billion.

However, homes priced above 1 billion and exclusive real estate rows have recovered. Several large developers such as Summarecon reported that marketing middle class houses with a price range of Rs 1,5-2 billion is the most desired.

Likewise for exclusive properties above 2 billion. "Debt disbursement will increase until February 2021. I believe that even if there is an epidemic, we can adjust the type of marketing and sustainability. We can do it,” said Heintje.

KPR distribution has been pushed to an optimal 100% because of the LTV / FTV concessions issued by Bank Indonesia at the end of last month.

CIMB Niaga's KPR target development is above 6% per year. This means that developments with sharia mortgage quotas will be higher than in 2020, reaching 6%. The percentage of sharia mortgages from CIMB Niaga reached 40% this year and continues to increase from 20% in 2017 to 29% in 2018 and 37% in 2019.

“The founding Indonesian Sharia Bank (BSI) means that all banks have become more advanced. 2021 means conventional, but growing okay. It should be better than last year (above 6 percent), with the sharia distribution over. 40%," he said.

As information on average development KPR in industry it will only reach 2,8% in 2020. Depending on the type of property, home type mortgages will only increase by 3,5%, apartments by 2,3% and shophouses will decrease by 9,6% due to lower public consumption.

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