BCA Makes History as First Private Bank to Offer Subsidized Mortgages
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JAKARTA, investortrust.id — PT Bank Central Asia Tbk, or BBCA, has become the first private bank in Indonesia to enter the subsidized mortgage market, following the signing of a memorandum of understanding with the Public Housing Savings Management Agency (BP Tapera) to support the 2025 Housing Financing Liquidity Facility (FLPP) program.
“BCA, with Rp 1,400 trillion ($86 billion) in assets, is the largest private bank in Indonesia. They’re starting with 1,000 houses because they believe this program is good for the country and the people,” said Minister of Housing and Settlements Maruarar Sirait during a press conference at the Directorate General of State Assets (DJKN) office in Jakarta on Friday.
The FLPP scheme offers government-subsidized home loans to low-income households. BCA’s involvement marks a significant shift, as subsidized housing loans were previously distributed primarily through state-owned lenders.
Private Sector Joins Hands on Housing
Maruarar, who was appointed housing minister earlier this year, expressed gratitude to BCA President Director Jahja Setiaatmadja and his team for their trust and initiative.
“Thank you, Pak Jahja. I understand this isn’t easy. For BCA to place its trust in us is a blessing, and I will guard that trust with utmost responsibility,” he said.
BCA’s participation could set a precedent for other private institutions. Maruarar revealed that PT Bank Nationalnobu Tbk (NOBU) and PT Bank Artha Graha Internasional Tbk (INPC) are also being invited to join the FLPP scheme.
“We’ve started entering the market. Pak James Riady with Nobu is ready. Artha Graha is ready too. Many private banks are starting to get involved,” he said.
Nobu Bank Poised to Join
Separately, Lippo Group Chairman James Riady confirmed preparations were underway to fulfill the minister’s request. Riady controls PT Bank Nationalnobu Tbk (NOBU) through the Lippo Group conglomerate.
“Pak Ara has asked us, and we will begin implementation soon,” Riady said.
He noted the group’s readiness to disburse subsidized home loans for up to 50,000 housing units through NOBU, under the government’s Housing Financing Liquidity Facility (FLPP) program.
“Hopefully we can reach 50,000 homes. The program is already in place, and we’ve been invited by Minister Maruarar Sirait to participate,” Riady told reporters
He added that Lippo’s commitment aligns with the government’s goal to address the national housing backlog through President Prabowo Subianto’s ‘3 Million Homes’ initiative.
“The framework is sound—Tapera, SMF, all of it. This program is mature, and the demand is real, not speculative,” Riady said.
The involvement of private banks in government-backed mortgage lending is seen as a critical move to bridge Indonesia’s housing gap, particularly for low-income citizens. It also marks a shift toward broader public-private collaboration in social infrastructure.