In today’s briefing:
- Bank Central Asia (BBCA IJ) – Credentials Remain Intact
Bank Central Asia (BBCA IJ) – Credentials Remain Intact
- Bank Central Asia (BBCA IJ) surprised with a strong set of 1Q2024 numbers driven by unseasonably strong loan growth coupled with continuing growth in CASA, helping to underpin NIMs.
- Loan growth was driven by corporate loans with investment loans outpacing working capital loans together with SME loans and consumer loans, especially mortgages, autos, and personal loans.
- Digital banking initiatives drove customer numbers and transactions, whilst improving operating efficiencies. Credit costs continue to come down with falling loans at risk. Valuations remain high but credentials remain intact.
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