Banks: 4M24 Banks-Only Results
Supported by lower CoF increases compared to their peers, only BBCA, BRIS, and NISP booked double digit NP growth in 4M24.
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Bank Syariah Indonesia - Inline 4M24 Net Profit Supported by Financing Growth and Lower Provisions
We maintain our FY24F forecasts and TP of Rp2,700; reiterate our Buy rating with superior earnings growth vs. its peers as the key catalyst.
357 Views
Bank Syariah Indonesia (BRIS IJ) - Better Entry Point Emerges...
BRIS’ more resilient profile remains intact with a lower CoF from higher SA and a high payroll loans segment to support asset quality.
229 Views
Growth Headwinds Priced In, but We Prefer Defensive and ‘quality’ Amid Lingering Uncertainties
We project a softer FY24 EPS growth outlook of +3% yoy (vs. +5% prev.) amid slowing growth in 2Q24, but see limited further downside risk
313 Views
Banks: Solid asset quality and capital to weather macro uncertainties (OVERWEIGHT)
We estimate the big-4 banks’ FY24F earnings to be potentially 1-6% lower if the BI rate is unchanged; BBCA as the least affected bank.
516 Views