Bank Muamalat Notes Mortgage Financing Increases 39 Percent As Of June 2024

PT Bank Muamalat Indonesia Tbk recorded new financing or new booking of home ownership loans (KPR) at the Islamic bank increased by 39 percent on an annual basis (year on year/YoY) as of June 2024.

According to the company, this significant increase shows that more people or families want to buy a house through Bank Muamalat. Bank Muamalat's Retail Banking SEVP Dedy Suryadi Dharmawan added that this growth also reflects the increasing public trust in KPR products and services offered by Bank Muamalat.

"We are committed to continuing to provide the best solution in housing financing, especially through innovative programs that suit customer needs and preferences," said Dedy in a written statement in Jakarta, quoted from Antara, Thursday, August 15.

The company said that the distribution of housing financing for Bank Muamalat was driven through the Baitullah Hijrah KPR program. This program has extra benefits in the form of a portion of Hajj or Umrah without being drawn. KPR Hijrah Baitullah applies to the purchase of new houses, used houses, transfer of financing, and refinancing.

Dedy explained that the Baitullah Hijrah KPR program can be accessed by new customers and existing customers with a minimum financing limit of IDR 500 million to a maximum of IDR 5 billion. The choice of hajj or umrah prizes can be divided to a maximum of up to 4 people as needed.

To increase the distribution of mortgages, the company said that Bank Muamalat would increase developer partners and property agents. This PInation of Islamic banks will also optimize sales through telesales and branch sales officer (BSO).

Through the Baitullah Hijrah KPR program and various other initiatives, Bank Muamalat hopes to continue to contribute in helping customers realize their dream of owning a house as well as performing the pilgrimage or Umrah.

As additional information, until the end of June 2024, Bank Muamalat recorded a total financing growth of 1.9 percent YoY. The highest growth was recorded in profit-sharing financing (musyarakah) which grew by 16.5 percent YoY.

As for the funding side, Bank Muamalat recorded a current account and saving account (CASA) of 4.9 percent YoY, with a total third party fund (DPK) of Bank Muamalat recorded IDR 43.8 trillion as of June 30, 2024. With this performance, Bank Muamalat posted a profit before tax of IDR 9.1 billion in the same period.