Banking - Bank Muamalat aims for KPR financing growth of IDR 5.3tn

Banking - Bank Muamalat aims for KPR financing growth of IDR 5.3tn Bank Muamalat Indonesia targets growth in home ownership financing (KPR) of IDR5.3 tn in 2024. Bank Muamalat is optimistic that this target can be achieved considering that the need for housing in Indonesia is still very large. Apart from that, the gap in housing needs or backlog is still quite high. Bank Muamalat business strategy remains focused on the individual retail segment where KPR will be one of the largest contributors. (Source : Kontan). Comment : The ongoing potential property sector growth will overall underpin mortgage demand and thus should Bank Muamalat target likely to be achieved. The bank will play significant role on the massive untapped syariah mortgage market, in our view.