Digital Banks - Still Robust Earnings Growth Potentials Despite Increasing Competition
Despite heightened competition from new players, we expect Seabank and ARTO to retain their dominance in the digital banking space.
297 Views
Digital Banks - Growth in May and Here to Stay
As profitability remains a focus for digital banks, we note that ARTO’s share price has underperformed its peers despite its stable profitability
364 Views
Bank Jago (ARTO.IJ) - 2Q25 Earnings Miss, Despite Record Profit on Lower Provisions
ARTO posted 2Q25 net profit growth of +11% qoq/ +136% yoy, resulting in 1H25 NP of Rp127bn (+154% yoy), but below our/cons ests.
429 Views
Bank Jago - 3Q24 Earnings: Low-Risk Loans Continue to Drive Growth
ARTO posted 3Q24 net profit growth (+36% qoq, +71% yoy), driving 9M24 to form 69%/70% of our/cons (in line), driven by lower provision.
322 Views
Bank Jago - 1H24 Earnings Miss, but Solid Asset Quality to Support 2H24 Earnings
We lowered our LT ROE from 18.1% to 16.7% as we trimmed our NIM, which is partly offset by lower CoC. Maintain BUY with a TP of Rp3,800.
245 Views