Banking - The growth rate of property credit slowed in Sept24

Banking - The growth rate of property credit slowed in Sept24 The slowdown in the growth rate of credit occurred in the property sector. In fact, as of Sept24, the growth of property credit became the slowest throughout this year. Quoting Bank Indonesia's money supply data, property loans only grew by about 7.6% yoy to IDR1,403.6 tn. This growth is slower compared to the previous month, which managed to grow by 8% yoy. In reality, the growth rate of property credit in the following months experienced a quite rapid upward trend. In fact, in Jul24, property credit was able to grow by up to 9% yoy to IDR1,391.5 tn. For Sept24, property credit was strongest in the KPR and KPA segments, growing by 10.8% yoy. However, this growth rate experienced a slowdown from the previous month, which was able to grow by 11.4% yoy. (Source : Kontan)