BBCA - Target KPR to grow double digits

BBCA - Target KPR to grow double digits Bank Central Asia (BCA) is optimistic that the home ownership credit (KPR) business this year will continue to grow solidly despite the political year. This year, the largest private bank in the country is targeting mortgage growth to continue to grow at double digits in the same range as the realization in 2023. BBCA has not yet released a credit performance report, including KPR, for 2023. However, as of September 2023, the company's KPR has reached IDR 117.9 tn. This realization grew by 11.5% yoy. (Source: Kontan) Comment: We think the target is achievable. Policy relaxation will overall support demand, while our expectation on peaking interest rate should become as another catalyst driver.