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)
On a YTD basis, BBRI’s share price has underperformed its peers (BMRI / BBCA / BBNI / BRIS – all Buys)
BBRI has released its bank-only Aug-24 results which suggests potential for the bank
Rolling forward to 2025F book-value; raise TP to IDR6,300
BBRI posted its Jul-24 bank-only results, which showed decent improvement
Based on the Indonesia government’s latest 2025 budget, we think there will potentially be less exposure to