BBNI - KPR distribution reaches IDR55 tn

BBNI - KPR distribution reaches IDR55 tn Bank Negara Indonesia (BBNI)’ KPR portfolio reached IDR55 tn, or grew by 7.9% yoy. Nearly 80% of the BNI KPR credit distribution this year was given to the millennial segment (11% yoy). Some of the property products for the millennial segment that BBNI offers come from developers such as Ciputra Group, Sinarmas Land, Agung Podomoro, Modernland, Agung Sedayu Group. BBNI also collaborates with various public transportation providers, including the Jabodebek LRT, which passes through various transit-oriented development (TOD) properties. (Source : Kontan). Comment: We believe BBNI’s ‘23F loan growth guidance range of 7.0%-9.0% is achievable. We expect demand from working capital loan and consumer loan will play important role to support the overall growth. Of the consumer credit portion, we think mortgage loan is likely to continue resilient, especially demand from middle segment ticket size.