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BTN to use 90% of credits for housing projects.

Publicly listed state-owned saving bank, Bank Tabungan Negara (BTN), said it will allocated 90% or Rp 3.67 trillion of its new credits to be extended in 2005 for the housing sector and supporting facilities. BTN President Kodrati said part of the fund will be used to finance development of 75,000 units of low cost houses this year. Kodrati said the bank has been successful so far in the housing sector as development of the property sector has been faster than expectedly. He said the interest rates on housing credits now range from 11% to 14%, the highest so far for low cost houses. He said BTN's interest rates on housing credits are higher than offered by othe/banks as BTN raised its capital mainly through bond issues. (BI/12/01/05)
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Title Annotation:Corporate News In Brief; Bank Tabungan Negara
Comment:BTN to use 90% of credits for housing projects.(Corporate News In Brief)(Bank Tabungan Negara)
Publication:Indonesian Commercial Newsletter
Article Type:Brief Article
Geographic Code:9INDO
Date:Jan 11, 2005
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