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.
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Banks: Better Liquidity to Support NIM Amid the Potential Continuous Tight Competition in Lending
BI has decided to cut its benchmark rate by 25bps favoring the banks that have seen the most increase in CoF, i.e., BBRI and BBNI.
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Banks: Attractive Entry Point Amid Valuation Derating, Supported by the Still Robust Asset Quality
With higher FY24F CoC of 3.0%, BBRI has allocated adequate provisions to address the current issue in its MSME segment. Maintain Overweight rating...
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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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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
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