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, but Intact Fundamentals Shall Support High Growth to Resume in FY25
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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Banking - Growth in TD While Awaiting Liquidity Improvements
With the market awaiting liquidity improvements, the rising trend in the LDR and TD growth may persist in Sep 23 in our view. Our sector and stock...
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Macro Strategy & Flows Trackers: More Signals
The main takeaways from the most recent Fed Beige Book suggest moderating economic growth in recent months, implying a Fed pause.
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Macro and Flows Tracker - Stay Vigilant
While US debt ceiling negotiation remains at a stalemate, inflow appears to have resumed with modest cIDR400b in the 3rd week of May, which we...
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