Indonesia’s state-controlled mortgage lender Bank Tabungan Negara is targeting an 18 percent to 33 percent increase in net income next year as it hopes to sell more non-subsidised mortgages to customers, a top executive said on Friday.
BTN President Director Maryono said the lender expects a net income of 2 trillion rupiah ($160 million) for the next year, up from their 1.5 trillion to 1.7 trillion rupiah estimate for this year. BTN, Indonesia’s biggest mortgage loan provider, saw outstanding loans expand 23 percent this year, up from last year’s 81.41 trillion rupiah.
$1 = 12,175 rupiah
Note: Reuters has not verified this story and does not vouch for its accuracy. (Compiled by Jakarta Newsroom; Editing by Gopakumar Warrier)