Bank Negara Indonesia (BBNI IJ) - Credit Quality Improvement and Higher CoF Remain
BBNI’s FY23 net profit of Rp20.9tr (+14% yoy) was in-line with ours/ consensus, supported by lower provisions amid flattish NII.
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Banks: On-Track for Higher Yields and NIMs in FY24 (OVERWEIGHT)
Maintain Overweight on the sector’s decent earnings growth, sound macro outlook, and potential rate cuts; BBCA and BMRI as ourtop picks.
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Banks - Steady Despite the Turbulence
Maintain Overweight on decent earnings growth, a sound macrooutlook, and potential rate cuts with BBCA and BMRI as our top picks.
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Banks: Moderating FY24 Growth
We expect a temporary deceleration in banks’ FY24 earnings growth, driven by slower loan growth, in-line with past trend in election year.
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Equity Research – Sector Update: Banks
We expect a temporary deceleration in banks’ FY24 earnings growth, driven by slower loan growth, in-line with past trend in election year.
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