This Is The Response Of The SMF Boss Regarding BTN Objects To The 4.45 Percent FLPP Interest

JAKARTA - President Director of PT Sarana Multigriya Finansial (Persero) alias SMF Ananta Wiyogo responded to complaints from PT Bank Tabungan Negara (Persero) Tbk (BBTN) or BTN regarding the high loan interest in the housing financing liquidity facility (FLPP) scheme at Home Ownership Loans (KPR) of 4.45 percent.

Ananta explained that actually the loan interest given by her party was appropriate. The reason, he said, was that the 4.45 percent figure came from the blended result with BP Tapera.

"Oh, that's a misunderstanding. MBR is charged with 5 percent interest. It's 75 percent of BP Tapera's (financing) portion, 25 percent (SMF)," he said in response to VOI's question when met at the BPS office, Jakarta, Tuesday, August 26.

"(The figure) is 4.45 percent blended with BP Tapera, so the entry into banks is 1.5 percent. The bank distributes 5 percent (interest), now what margin can this be? 3.5 percent. So what is it called expensive, which one?" he continued.

When asked further whether the amount of loan interest given was still competitive, Ananta was reluctant to comment on anything.

Previously, BTN President Director Nixon LP Napitupulu revealed that loan interest from SMF reached 4.45 percent, while BTN could only distribute subsidized mortgages to the public with a fixed interest rate of 5 percent.

"So, both government institutions, but we ask that they are also able to adjust the reduction in interest rates that we feel are quite expensive for FLPP financing," Nixon said at the Hearing Meeting (RDP) with Commission VI at the Parliament Complex, Senayan, Jakarta, quoted Friday, August 22.

With the current scheme, namely the FLPP interest rate of 0.50 percent plus a SMF loan of 4.45 percent, the NIM KPR subsidy of BTN is only at the level of 3.51 percent.

Based on the presentation shown, Nixon assessed that if the SMF loan interest could be reduced by only 25 basis points, the NIM KPR subsidy BTN could potentially increase by around 7 basis points.

"With a 25 bps reduction in FLPP loan interest rates, it has the potential to increase the NIM KPR Subsidy by 7 bps," he said in the data presented.

He also hopes that the government will review the FLPP funding scheme. "The challenge is that the SMF loan interest rate is too high, so NIM is still below the industry average," said Nixon.