JAKARTA: State-owned secondary mortgage company Sarana Multigriya Finansial ( SMF ) expects its financing to mortgage lenders will exceed Rp 4 trillion ( US$311.6 million ) this year due to rising financing demand for house purchases in the country.
SMF president director Raharjo Adisusanto said the target represented an increase from the Rp 3.7 trillion disbursed last year.
“We see an increase in housing loan demand in the first quarter of this year as Bank Tabungan Negara ( BTN ), which focuses on providing housing loans ( KPR ), recently borrowed Rp 1 trillion from us,” Raharjo said in a press briefing, adding that it had also recently disbursed Rp 190 billion to Bank Riau Kepri, a local bank owned by the Riau Islands provincial administration.
With a total Rp 1.19 trillion disbursed in the first quarter of 2016, the company recorded an extremely sharp increase in its financing between January and March this year compared to that in the same period last year, which stood at only Rp 33.17 billion.
Raharjo said the increase in financing for mortgage lending was part of the company’s commitment to support the government-sponsored “one million homes” program, introduced last year, which aims to provide housing for low-income people. — JP/vny