Bank Jago (ARTO IJ) (Neutral) - Improved performance
EWARTO released its 1H25 results on 24 July...
ARTO released its 1H25 results on 24 July...
ARTO released its 1Q25 results, which were pretty solid, in our opinion...
Going into 2025F, we see continued headwinds for Jago (and other digital banks),