BBTN - Channelling 2,165 of mortgage in Aug23

BBTN - Channelling 2,165 of mortgage in Aug23 Bank Tabungan Negara (BBTN) booked mortgage channeled around 2,165 of mortgage houses in Aug23, or noted as the highest lender from total TAPERA channeled around 3.325unit of houses. On syariah basis, there are around 584unit of houses were channeled in the same period. (Source : Kontan). Comment : We believe subsidy segment will continue to become as the backbone and will overall supporting BBTN earnings in 2023. We expect non subsidy housing will become as additional catalyst. We also like BBTN strategy to continue accelerating high yield segment income which could helped non housing segment to record another higher interest income. We expect tapera could record another solid and higher disbursement in 2H23 and thus will benefit BBTN.