Indonesia Banks - Assessing funding and room for repricing
NS EWBelow, we present two charts (Fig. 1 and Fig. 2) depicting the loan-to-CASA and loan-to-saving trends across I
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Bank Rakyat Indonesia BBRI IJ -Buy- A second look
NS EWOn a YTD basis, BBRI had underperformed its major peers by ~13-30%, with predominantly net foreign selling amo
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Indonesia Telecoms - 3Q24F preview
NS EWIn this note, we assess major telcos’ upcoming 3Q24F results (to be released end of Oct 2024).
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Indonesia Towers - 1H24 results review
NS EWIn this note, we look at 1H24 results from major Indonesia telecom towercos, which have shown positive upward
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Indonesian Banking Sector - YTD Aug-24 Summary
NS EWMajor Indonesia banks (BBCA/BMRI/BBRI/BBNI) have published their bank-only Aug-24 results,
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Bank Syariah Indonesia BRIS IJ -Buy- YTD Aug24 Tracking our projections
NS EWBRIS has released its YTD Aug-24 results, which came in largely inline with our projections.
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Bank Negara Indonesia BBNI IJ -Buy- YTD Aug-24 results soft results
NS EWBBNI has released its bank-only YTD Aug-24 results, which suggest limited operating improvements for the bank.
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Bank Rakyat Indonesia BBRI IJ -Buy- A contrarian call
NS EWOn a YTD basis, BBRI’s share price has underperformed its peers (BMRI / BBCA / BBNI / BRIS – all Buys)
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Bank Central Asia BBCA IJ -Buy- Solid YTD Aug-24 results
NS EWBBCA has released its bank-only Aug-24 results. Monthly earnings of IDR4.6tn (-6% m-m / +22% y-y)
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Bank Rakyat Indonesia BBRI IJ -Buy- YTD Aug-24 On track to meet our projections
NS EWBBRI has released its bank-only Aug-24 results which suggests potential for the bank
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Indonesia banks - Easing credit risks
NS EWFollowing on our recent note on the banking sector (Indonesia Banks) in
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Bank Negara Indonesia - BBNI IJ -Buy- Rolling forward valuation to 2025F
NS EWBBNI’s YTD Jul-24 results suggest minor operating improvement for the bank.
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Bank Syariah Indonesia - BRIS IJ -Buy- Plenty of growth drivers
NS EWBRIS’s share price has had a good run (YTD +78%), and post-merger, it has reached an all-time high of IDR3,10
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Indonesia Banks - Easing liquidity
NS EWWe expect easing liquidity for the Indonesian banking sector in 4Q24,
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Indonesia Telecom - Bottoming ARPUs
NS EWSince the introduction of data services in the Indonesia telecom sector,