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Jakarta Post

Economy in brief: SMF books 88% financing growth

  • The Jakarta Post

Jakarta   /   Mon, January 30 2017   /  12:17 am

State-owned secondary mortgage company Sarana Multigriya Finansial (SMF) announced on Friday that it had disbursed Rp 6.96 trillion (US$520.76 million) in housing financing throughout last year, 88 percent higher than its 2015 achievement.Of the figure, Rp 5.46 trillion was channeled as loans to mortgage lenders while the remaining Rp 1.5 trillion was disbursed through securitization transactions.“Our active moves to channel mortgage financing for low-income segments have pushed up our profit,” SMF president director Ananta Wiyogo told a press briefing.The firm saw its profit jump by almost 30 percent year-on-year (yoy) to Rp 318 billion last year, while its revenue stood at Rp 979.7 billion, up by around 18 percent.The government aims to build 1 million houses for low-income people every year to reduce a housing backlog that currently stands at around 11.8 million houses.With such o...