JAKARTA - PT Sarana Multigriya Finansial (Persero) or (SMF) as a Special Mission Vehicle (SMV) of the Ministry of Finance reported that throughout 2025 it managed to disburse funds of IDR 20.88 trillion to housing financing distribution institutions, or an increase compared to the previous year of IDR 17.01 trillion in 2024.
As for supporting the distribution, the total funding received by the Company throughout 2025 reached IDR 10.6 trillion.
SMF President Director Ananta Wiyogo said the company continues to strengthen its role as a liquidity provider in the national housing financing ecosystem.
He added that this achievement was further strengthened by the trust of international and domestic rating agencies. SMF obtained a BBB rating from S&P Global, id(AAA) from Pefindo, and AAA(idn) from Fitch Ratings.
"The ranking reflects the willingness and ability of SMF to meet financial obligations in a timely manner, as well as showing the Government's strong support for the role of SMF as a fiscal instrument in the housing financing sector," he said on Wednesday, March 4.
In carrying out its mandate as a fiscal tool of the government and supporting the FLPP mortgage program managed by the Ministry of Housing and Spatial Planning, since 2018 SMF has contributed to providing 25 percent of the FLPP mortgage funding.
The source of funding comes from the State Capital Participation (PMN) which is then optimized through a blended financing scheme with the issuance of debt securities, to ensure the sustainability and optimization of housing financing for Low Income Communities (MBR).
Until December 2025, SMF has disbursed funds of IDR 34.37 trillion or equivalent to financing 904,568 units of houses.
The distribution is the result of the optimization of the State Capital Participation (PMN) with a leverage scheme of 1.9 times through the issuance of debt securities worth IDR 17.94 trillion.
Ananta said that the role of SMF as a special mission vehicle of the Ministry of Finance continues to be strengthened to maintain the sustainability of national housing financing.
"As a fiscal instrument of the government, the SMF ensures that every PMN received can be optimally utilized through a prudent and measurable leverage scheme. This is our form of responsibility in supporting access and affordability of sustainable housing financing," he said.
Throughout 2025, a number of strategic steps were also taken by the company, namely in terms of funding, SMF achieved an international BBB rating and became the first corporation whose debt securities qualified as underlying transactions of Bank Indonesia REPO.
In addition, SMF launched new financing products such as Griya Nusantara and Griya Tunas (micro-financing) to help reduce the backlog of home ownership and improve the quality of housing, among others through the Griya Nusantara and Griya Tunas (micro-financing) programs.
In supporting the National Housing Program, especially the Three Million House Program target, SMF expands access to financing for people who have not been reached by formal financial services, including informal sector workers and people with irregular incomes.
Throughout 2025, through cooperation with various financial institutions, financing for Griya Tunas has been channeled for 52,142 units of houses, exceeding the government target of 50,000 units.
SMF Business Director Heliantopo explained that this scheme allows people to renovate or repair their homes to make them more habitable, while supporting productive activities based on households.
"This also opens access to safe and affordable financing, and is a concrete solution in overcoming the backlog of housing eligibility in Indonesia," he explained.
In the midst of economic dynamics and changes in banking liquidity, SMF still recorded solid financial performance, namely until December 2025, the total assets of the company reached IDR 66,814 trillion or grew 15 percent compared to the same period last year and net profit increased to IDR 565 billion, up 5 percent compared to December 2024.
SMF Finance and Risk Management Director Bonai Subiakto, emphasized that this growth shows the resilience of the company's business model which is supported by strong governance and risk management.
"The 2025 Financial Report has been audited by the Independent External Audit Institution with an opinion of 'reasonable, in all material respects'. This achievement shows the Company's commitment to maintaining transparency, accountability, and prudent risk management in the midst of economic dynamics," he said.
In the future, SMF will continue to optimize its strategic role, including through the socialization of debt letters as underlying instruments of Bank Indonesia Repo, strengthening the role of the SMF Research Institute (SRI) in supporting housing policies, and providing long-term funding through innovation of sustainable financial products.
"In 2026, we will continue to accelerate the strategic role of SMF in building a resilient, adaptive, and sustainable housing financing sector, in line with the government's program to ensure access to decent housing for all Indonesian people," concluded Ananta.
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