Outstanding Mortgage Loan Value for Indonesian Citizens Reaches Rp668.3 Trillion in February 2024

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Erlina Fury Santika 03/05/2024 19:40 WIB

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OJK data shows that the value of mortgage loans from general banks to the public continues to increase. The latest data as of February 2024 reached Rp668.3 trillion.

Total Value of Mortgage Financing from Commercial Banks for the Indonesian Public (February 2023 - February 2024)

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Outstanding Mortgage Loan Value for Indonesian Citizens Reaches Rp668.3 Trillion in February 2024

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Total Value of Mortgage Financing from Commercial Banks for the Indonesian Public (February 2023 - February 2024)

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The Financial Services Authority (OJK) report shows that the total value of mortgage loans (KPR) from general banks to third parties or the public has continued to rise throughout 2023 and into early 2024.

The latest data, from February 2024, shows that the value of mortgage financing reached Rp668.3 trillion. This credit value is 0.64% higher month-on-month (mom) compared to January 2024, which was Rp664.03 trillion.

The February 2024 credit value also surged 13% year-on-year (yoy) from Rp591.38 trillion in February 2023.

Along with the increase in loan disbursement, the value of non-performing loans (NPLs) also increased. The value of NPLs reached Rp16.65 trillion in February 2024.

February's non-performing loans were 1.82% higher (mom) than January 2024's Rp16.35 trillion. Furthermore, February 2024's non-performing loans soared 25.8% (yoy) from Rp13.22 trillion in February 2023.

Over the past year, the trend of mortgage credit has consistently increased, from approximately Rp590 trillion to Rp668 trillion. The sharpest increase in the last year occurred in July-August 2023, rising by almost Rp20 trillion.

Note that these figures represent mortgage financing from general banks to individuals (non-bank/non-business sector). This does not include loans for apartment and shop house ownership.

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."