PT Bank BRI Syariah aims to disburse 5,000 house mortgages, called “KPR Sejahtera BRI Syariah iB”, for lower and middle income class citizens nationwide by the end of 2012.
BRI Syariah retail banking chief Khairullah said that the target was based upon an agreement signed on Oct. 17 regarding a housing loan liquidity facility (FLPP) between the bank and the Public Housing Ministry.
“We will fund 5,000 houses. With an estimated Rp 50 million (US$5,657.70) for a house, there will be about Rp 250 billion in total,” Khairullah told a briefing at BRI Syariah headquarters on Tuesday, while declining to reveal further details.
BRI Syariah intends to offer loans of between Rp 25 million and Rp 80 million for the KPR Sejahtera program, consumer banking group chief Sri Esti Kadaryanti said.
Sri added that KPR Sejahtera also offered a fixed financing margin in all-time payment. KPR Sejahtera sets a financing margin of 8.15 percent for financing valued between Rp 25 million and Rp 50 million, 8.25 percent for financing valued up to Rp 60 million, 8.35 percent for financing valued above Rp 70 million and 8.50 percent for finance above Rp 80 million.
“The fixed financing margin will provide customers peace of mind,” Sri said, adding that finance would depend on the customers’ salary.
Khairulah said that KPR Sejahtera targeted civil servants, military and police officers and private employees, particularly those living outside big cities, with basic salaries of Rp 2.5 million to Rp 4.5 million per month.
“The demand for a house in the capital won’t meet the KPR Sejahtera features. However, that does not mean that we would not serve KPR Sejahtera applications in Jakarta,” he said.
Khairullah said that the bank had already received and signed 200 KPR Sejahtera applications, mostly in Pekanbaru and in Central Java worth up to Rp 10 billion. “We are waiting to realize them, hopefully by the end of the year.”
He said that BRI Syariah would continue to develop mortgage programs to support the bank’s goal to be a modern retail bank. “That is why basic needs such as housing have become our focus. There is currently a national housing backlog of 13.6 million units per year.”
Khairullah said BRI Syariah aims to disburse Rp 1.2 trillion in total mortgages by the end of the year. BRI Syariah is also carrying out another mortgage program with finance values ranging from Rp 25 million to Rp 3.5 billion.
“We already have outstanding mortgages of Rp 1.1 trillion as of September,” he said, adding that the bank targeted mortgages of Rp 2.3 trillion by the end of 2012.
Khairulah said that mortgages currently contributed about 17 percent of the bank’s total financing.
BRI Syariah president director Ventje Rahardjo said that the bank booked an increase of about 60 percent of total financing in the first nine months of the year compared to the same period last year.
“As of September, our total financing reached Rp 8 trillion and profit before tax was Rp 23 billion,” he said on the sidelines of Tuesday’s briefing.
Ventje said that BRI Syariah expected to book a Rp 50 billion profit by the end of the year. (rcf)