Banks - Steady Despite the Turbulence
Maintain Overweight on decent earnings growth, a sound macrooutlook, and potential rate cuts with BBCA and BMRI as our top picks.
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GEM Banks; 2024 Conviction Calls
2024 GEM Bank picks: Longs in improving return Bank Mandiri, and value plays KB Financial, China Merchants Bank, and Banco do Brasil, with a short...
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Banks: Moderating FY24 Growth
We expect a temporary deceleration in banks’ FY24 earnings growth, driven by slower loan growth, in-line with past trend in election year.
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Equity Research – Sector Update: Banks
We expect a temporary deceleration in banks’ FY24 earnings growth, driven by slower loan growth, in-line with past trend in election year.
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Equity Strategy: FY24 Outlook: The Road to JCI 8,000
JCI’s 13x PE implies room for a rerating if growth improves, while Indonesia’s resilient economic growth offers downside protection.
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