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CIMB Niaga boosts sharia-based lending
JAKARTA: CIMB Niaga aims to provide Rp 500 billion in sharia-based loans for housing credit (KPR) and auto credit through its sharia banking unit, says vice president director Saefudin Noer
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AKARTA: CIMB Niaga aims to provide Rp 500 billion in sharia-based loans for housing credit (KPR) and auto credit through its sharia banking unit, says vice president director Saefudin Noer.
Saefudin said in Jakarta last week he was confident the bank’s sharia-banking subsidiary would be able to distribute all the funds by the end of this year because of surging demand for housing and auto finance in the country.
“We will give several facilities, including 10-year-term loan for KPR and 5-year-term loan for auto credit as well as 10 percent installment for down payments, to attract more consumers,” he added.
Director for credit and risk management Daniel James Rompas said that CIMB Niaga sharia banking unit’s total loans was relatively low, totaling only Rp 1 trillion as of March this year, but its growth was quite high, climbing 26 percent on the figure in the same month, last year.
This year, the bank expects to open 9 new CIMB Niaga sharia branches in Bogor and Cirebon, West Java; Solo, Central Java; Palembang, South Sumatra; Banjarmasin, South Kalimantan as well as Jakarta as an addition to the existing 12 branches. — (rch)
