Bank Niaga Signs Mortgage Agreement

September 21 2007

Source: The Jakarta Post, Jakarta

PT Bank Niaga signed a memorandum of understanding on apartment mortgages Friday with property developer PT Asiana Lintas Ciptakemang, which is currently building apartments in Kemang, South Jakarta.

Under the agreement, buyers of PT Asiana's apartments will be able to get loans from the bank with an interest rate of 9.9 percent a year. Bank Niaga's head of mortgage banking Laksmi Mustikaningrat said that with the agreement, the apartment buyers would be able to process their loans much faster than under the normal procedure.

The picture (above) shows (left to right) Alifah Abdullah, Asiana's project director, Juanita A. Lufhan, Bank Niaga's vice president for business group mortgages, Loemongga Hoemasan, Asiana's president director and Laksmi Mustikaningrat, Bank Niaga's executive vice president of mortgage banking.

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