SMF Reports Rp14.09 Trillion in Housing Finance Distribution for H1 2026

State-owned secondary mortgage company PT Sarana Multigriya Finansial (Persero) has reported cumulative financing distribution of Rp141.61 trillion since its inception in 2005. For the first half of 2026 alone, the company channelled Rp14.09 trillion to financial institutions to strengthen their capacity for housing loan distribution. Beyond direct financing, SMF acts as a liquidity provider through the securitisation of housing loan assets. As of June 2026, the company has facilitated 17 securitisation transactions with an accumulated value of Rp14.21 trillion, enabling financial institutions to recycle housing loan assets into new sources of liquidity. In its role as a government fiscal tool, SMF provides 25% of the funding for the Housing Finance Liquidity Facility (FLPP) programme, using a blended finance scheme combining state capital injections and proceeds from its own bond issuances. Accumulated state capital injections for the FLPP programme have reached Rp17.91 trillion, which SMF has optimised to generate total financing of Rp36.77 trillion, supporting 962,650 housing units. The company noted that every Rp1 trillion invested in the housing sector is estimated to boost gross domestic product by Rp1.83 trillion and create multiplier effects across at least 185 other economic sectors. SMF’s financial position strengthened, with total assets rising 21.79% year-on-year to Rp68.29 trillion as of June 2026. Liabilities stood at Rp40.35 trillion and equity at Rp27.95 trillion, up 14.23% and 34.65% respectively. Revenue for the first half grew 6.25% to Rp1.7 trillion, while net profit surged 33.9% to Rp391 billion. The company maintained a non-performing loan ratio of 0.00%, a return on equity of 3.18%, a debt-to-equity ratio of 1.75 times, and a profit margin of 22.89%. For the second half of 2026, SMF plans to continue supporting the FLPP programme, develop creative funding schemes for housing finance institutions, and deepen the asset securitisation market through both true-sale and non-true-sale products.