Bank Mandiri's Bali and Nusa Tenggara Leader, Rully Setiawan told local news wires recently that this year's housing loan target for Bali and Nusa Tenggara (Lombok, Sumbawa, Sumba, Flores and Timor) is more than last year's loan disbursement, which was around IDR 600 billion.

Bank Mandiri, is part of the BUMN (state-owned enterprises) banking group, which includes BNI, BRI, BTN as well as Bank Mandiri. Together they offer more strategic opportunities to help people boost their spending power.

Rully was positive about being able to reach the trillion target through socialization promotions, by offering a fast mortgage approval process of just one day for existing customers and by applying attractive interest rates of 5.88% for the first three years and 6.50% for the next five years.

Around 60% of housing loans in Bali through BUMN Banks are for customers in the regions of Denpasar, Badung, and Gianyar, with commercial loans ranging from IDR 300 million to over IDR 500 million according to Rully, who added there were already almost 40 housing projects in Bali being financed by Bank Mandiri.

On a national level, Bank Mandiri distributed mortgages to the tune of IDR 39.7 trillion in 2017, which is an 11% increase on the previous year, which brought the bank's market share in the property business to around 10% with the ratio of non-performing loans steady at 2%.

Source: Warta Ekonomi, Tempo, Tribun News

Similar to this:

Capital Markets in Bali show a positive trend

Bali's property market is back on track amid economic optimism

Bank Indonesia relaxes mortgage regulations