JAKARTA - PT Bank Tabungan Negara (Persero) Tbk (BBTN) targets mortgage growth of 23% year on year (yoy) in the second quarter of 2019 after a slowdown at the start of the year.
BTN Consumer Director Budi Satria said that overall the company eyes mortgage growth of 13%-15% yoy until the end of 2019. To achieve the target, BTN has prepared a number of promotions with developers partnering with the company.
According to Mr Satria, the slowdown in mortgage growth in Q1 was an annual cycle that was also affected by the general election. However, the company is optimistic that its performance will improve in Q2 and grow higher after the election.
“BTN in particular also shows the same trend, although the growth was still above the industrial average with 20.21% year on year,” said Mr Satria as quoted by Bisnis Indonesia, Wednesday (15/5). He added that in Q1 mortgage disbursement was still dominated by landed houses in the middle segment at below Rp 500 million.
As of March 2019, BTN recorded loan disbursement growth of 19.57% yoy to Rp 242.13 trillion. Subsidised mortgage grew 28.8% to Rp 101.99 trillion, while non-subsidised mortgage rose 14.37% to Rp 79.83 trillion. (MS)