Indonesia Banks - 2026F outlook – Bottoming-out earnings
EWOur constructive view on Indonesia’s banking sector...
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Indonesia Telecom and Tower - Sector outlook 2026F
EW2025 remained a challenging year for Indonesia’s...
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Bank Rakyat Indonesia (BBRI IJ) (Buy) - Earnings revisions
EWFollowing BBRI's soft YTD Oct-2025 results, we revise...
BANKS Bank Rakyat Indonesia BBRI BBRI JK BBRI IJ Erwin Wijaya
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Bank Central Asia (BBCA IJ) (Buy) - Slower growth pace
EWThe Indonesia banking sector remains challenging going into 2026,
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Indonesia Banks - Bottoming margins
EWBased on recent bank-only performance data from major Indonesian banks...
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Indonesia telecoms - Dual tailwinds
EWWe reiterate our positive outlook for the Indonesia telecom sector,
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Indonesia Banks - YTD Oct-25 results summary; looking for earnings rebound in 2026
EWIndonesia’s major banks (BBCA IJ, BRIS IJ, BMRI IJ, BBNI IJ and BBRI IJ – ...
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Bank Mandiri (BMRI IJ) (Buy) - Bank Syariah Indonesia’s deconsolidation
EWCurrently the government of Indonesia holds one golden share of Bank Syariah Indonesia...
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Telekomunikasi Indonesia Persero (TLKM IJ) (Buy) - Elevated payout can be afforded
EWWe recently had a discussion with Telkom management. Among the key...
TELECOMS Telekomunikasi Indonesia Persero TLKM TLKM JK TLKM IJ Erwin Wijaya
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Bank Central Asia (BBCA IJ) (Buy) - Resilient YTD Oct-2025 results
EWBBCA has released its bank-only Oct-2025 results. Overall,...
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Indonesia Telecom - Path to (better) profitability
EWWe believe that market repair efforts have been...
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XLSMART Telecom (EXCL IJ) (Neutral) - Laying groundwork
EWXLSmart’s recently released 9M25 earnings have shown large losses...
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XLSMART Telecom (EXCL IJ) (Buy) - 9M25 results still pending merger synergies
EWXLSmart’s 9M25 results came below our projections. However,
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Indonesia Banks - YTD Sep-25 results summary
EWIndonesia’s major banks (BBCA IJ, BRIS IJ, BMRI IJ, BBNI IJ and BBRI IJ...
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Indonesia Tower - Mixed 9M25 results
EWIndonesia’s tower companies – TOWR IJ, MTEL IJ and TBIG IJ...