External broker reports(aggregated public sources), BRI Danareksa Research

BRI Danareksa Research

As a one-stop financial solution with the vision to be the most valuable securities house, BRI Danareksa Sekuritas (BRIDS) has maintained an excellent track record and extensive experience in the capital market as an underwriter, broker, and financial advisor for individual, institutional, foreign and domestic, private and government clients. Established in 1992, PT Danareksa Sekuritas is a securities company that performs activities as a securities broker, underwriter, or arranger and financial advisor. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

As a one-stop financial solution with the vision to be the most valuable securities house, BRI Danareksa Sekuritas (BRIDS) has maintained an excellent track record and extensive experience in the capital market as an underwriter, broker, and financial advisor for individual, institutional, foreign and domestic, private and government clients. Established in 1992, PT Danareksa Sekuritas is a securities company that performs activities as a securities broker, underwriter, or arranger and financial advisor.

Equity Bottom-Up

<ul><li>We maintain our BUY call on BJTM with a GGM-derived TP of IDR850 (implying 1.0x 2023F PBV) driven by better utilization of funding channeled via loans with a higher LDR of 61.8% as of March 2023 with 13.4% yoy loans growth</li><li>Looking ahead, we expect 14.7% loans growth for this year mainly to the SME segment as the bank has obtained a KUR quota of IDR4tn for 2023</li><li>Dividends, meanwhile, will remain enticing with a yield of ~8.4% assuming a stable payout ratio at 51.4% until FY24F</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

We maintain our BUY call on BJTM with a GGM-derived TP of IDR850 (implying 1.0x 2023F PBV) driven by better utilization of funding channeled via loans with a higher LDR of 61.8% as of March 2023 with 13.4% yoy loans growthLooking ahead, we expect 14.7% loans growth for this year mainly to the SME segment as the bank has obtained a KUR quota of IDR4tn for 2023Dividends, meanwhile, will remain enticing with a yield of ~8.4% assuming a stable payout ratio at 51.4% until FY24FContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

BPD Jatim (BJTM IJ) - Enticing dividend yield

Bpd Jawa Timur

BPD Jatim (BJTM IJ) - Enticing dividend yield