XL Axiata (EXCL IJ) (Buy) - EXCL – Post FY24 results update
EWXL released its FY24 results which showed punchy performance.
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Bank Mandiri (BMRI IJ) (Buy) - Unexciting (in-line) FY24 results
EWBMRI has released its FY24 results with headline consolidated profit at IDR55.8tn (+1.3% y-y).
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Bank Negara Indonesia (BBNI IJ) (Buy) - FY24 earnings review, TP adjustment
EWPost FY24 results, we revise FY25F-26F earnings estimates. We also add a new forecast year FY27F.
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Indonesia Banks - Room for better liquidity
EWBased on the latest SRBI issuances (dated 31 Jan 2025), we see some improvements in liquidity
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Bank Central Asia (BBCA IJ) (Buy) - Steady trend
EWWe have updated our earnings projections for BBCA for FY25-26F
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Bank Central Asia (BBCA IJ) (Buy) - Solid (and in line) FY24 results
EWBBCA released its FY24 results with headline profit at IDR54.8tn (+13% y-y),
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Bank Negara Indonesia (BBNI IJ) (Buy) - In-line FY24 results
EWBBNI released its FY24 results with a net profit of IDR21.5tn (+3% y-y),
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Indonesia Banks - Cutting reserve requirement might be prudent option
EWIn our opinion, the last three SRBI (Sekuritas Rupiah Bank Indonesia) issuances this year,
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Indonesian Banks - Muted impact from BI rate cut
EWBank Indonesia has made a surprise 25bp benchmark rate cut to 5.75%.
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Bank Rakyat Indonesia (BBRI IJ) (Buy) - Micro: Not worsening, but recoveries take time
EWOverall, the bank sees improvements in its micro segment,