Banking - Several banks successfully disbursed 100% of the FLPP quota this year

Banking - Several banks successfully disbursed 100% of the FLPP quota this year Several banks appear to have successfully disbursed the entire quota of the Housing Financing Liquidity Facility (FLPP) or subsidized housing for low-income communities. (MBR). The People's Housing Savings Management Agency (BP Tapera) recorded the achievement of FLPP financing realization as of December 6, 2024, reaching 198,292 units or 99% of the target set at 200 thousand units. Just so you know, the government officially increased the target for the FLPP program in 2024 by 34,000 housing units. As a result, the target for the FLPP program in 2024 changed from 166,000 housing units to 200,000 housing units. (Source : Kontan). Comment : The successful disbursement of the FLPP quota is a significant achievement for the Indonesian government and the banking sector. It demonstrates a strong demand for affordable housing among low-income communities and the effectiveness of government initiatives to support homeownership. On the other hand, it is essential to monitor the quality of housing units built under the FLPP program and ensure that they meet the needs and standards of low-income families. Additionally, ongoing efforts to streamline the FLPP application and disbursement processes will be crucial to maximizing the program's impact. We maintain an OW stance on the banking sector, with BBCA and BMRI as our top picks. For investors seeking exposure to Islamic banking, BRIS remains our preferred choice.