Equity Strategy: Potential Winners from BI’s Surprise Rate Cut
The period of policy rate cut was historically positive for JCI, which delivered 21% return during FY16-18 125bps rate cut.
451 Views
Banks: FY25 Outlook: Less money to lend, save, and repay (NEUTRAL)
We expect a moderate earnings growth of 5.8% in FY25F (from 6.7% in FY24F) due to slower loan growth, still tight liquidity, and higher CoC.
310 Views
Banks: Expansion of SAL utilization: for better or worse? (OVERWEIGHT)
PMK 88/2024 could add liquidity for the SOE banks, but with a CoF of c. 4.8%, we do not see it as plausible for the banks currently.
443 Views
Bank Syariah Indonesia - Robust 3Q24 Performance (In Line)
BRIS posted 3Q24 net profit of Rp1.7tr (+2% qoq, +24% yoy, in line), supported by strong loan growth, improving NIM, and stable CoC.
294 Views
Banks: 3Q24 Preview: Gradual Improvement in Liquidity and Strong Loan Growth to Drive Earnings
We expect the banks to deliver 7-23% and 5-21% net profit growth in 3Q24 and 9M24, driven by strong loan growth and resilient NIM.
285 Views