Jakarta. BNI recently announced a 13 percent growth in its homeownership credit program in the nine-month period of 2024 compared to the same period last year. 

This was also higher than the industry average of 10.8 percent. Bank Indonesia reported that the property credit distribution grew 7.6 percent by the end of September. The growth mainly came from the homeownership loan and its apartment counterpart, which had grown by 10.8 percent. BNI’s home ownership credit growth also caused the overall consumer sector credit to grow by 15 percent year-on-year. 

"The consumer sector has become one of BNI's credit growth engines supported by homeownership loans and payroll loans," BNI Corporate Secretary Okki Rushartomo was quoted as saying in a recent press statement.

BNI's mortgage growth is in line with various government stimuli in the housing sector. Most recently, the government agreed to extend the value-added tax waiver on house purchases until the end of the year. It was previously supposed to be a 50 percent incentive for the July-December 2024 period.

BNI is also upbeat about the company’s future prospects in the housing sector credit as the newly installed Prabowo Subianto government aims to build 3 million homes annually. 

"This government initiative is expected to contribute positively to credit distribution in the property sector. This will ultimately boost BNI's overall credit performance. We are targeting credit growth of around 10-12 percent by the end of 2024," added Okki.