Bank Neo Commerce (BBYB IJ) - Lower-Than-Expected Cost of Credits Offset Loan Book Contraction
BBYB 3Q25 solid net profit of Rp188bn (+62% qoq) were driven by lower CoC of 13.2%, bringing 9M25 to Rp464bn, exceeding our FY25 est.
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BBYB.IJ -1Q25 Earnings Beat: Significant CoC Lowering Offset the Lower PPOP
BBYB booked net profit of Rp160bn in 1Q25, up by more than tenfold both qoq and yoy, well ahead of our and consensus’ FY25F.
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Bank Neo Commerce - Turning Positive in 3Q24, Lower CoC Offsetting the Lower NIM
BBYB reported a slight net profit of Rp10bn in 3Q24 (vs. a slight net loss in 2Q24), resulting in a positive 9M24 NP of Rp4bn.
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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.
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Bank Neo Commerce - Turning into Net Loss in 2Q24 on Loans and NIM Contraction
BBYB reported a slight net loss of Rp20bn in 2Q24 (vs. slight net profit in 1Q24) from lower NII, partly offset by lower opex and provisions.
226 Views