Bank Mandiri (BMRI IJ) (Buy) - Earnings updates; TP adjustment
EWWe revise our FY25F-27F earnings forecasts for BMRI to reflect the...
We revise our FY25F-27F earnings forecasts for BMRI to reflect the...
BBNI has released its bank-only Jul-25 results, which came in behind our ...
BANKS Bank Negara Indonesia BBNI BBNI JK BBNI IJ Erwin Wijaya
EXCL’s 1H25 results came in below our projections. However,...
Liquidity conditions are turning more supportive. M2 growth has continued to...
BBRI has released its bank-only Jul-25 results, which came in...
BANKS Bank Rakyat Indonesia BBRI BBRI JK BBRI IJ Erwin Wijaya
BBCA released its bank-only Jul-25 results on 19 August...
The government’s draft 2026 budget sets interest rate subsidies for program loans...
In Feb-25, we wrote about what it would take to improve sustainability in the cellular space...
We hosted Verdhana Connect – Indonesia Macro and Banks Day on 13-14 August 2025,...
EQUITY STRATEGY Indonesia Equity Strategy Jupriadi Tan Gerald Hugo Erwin Wijaya
We look at recent trends in Bank Indonesia Rupiah Securities’ (SRBI) declining yields...
Post 1H25 results, we have reduced our consolidated profit projections on TLKM by...
TELECOMS Telekomunikasi Indonesia Persero TLKM TLKM JK TLKM IJ Erwin Wijaya
Post ISAT's 1H25 results, which included profit that accounted for ~44% of our FY25F forecast...
We take a deeper dive into the government’s recently approved ministerial...
TLKM has released its consolidated 2Q25 results, which in our view has...
TOWR has released its 1H25 results. Headline 1H25 profit came in at IDR1.7tn...