Daily Brief Financials: Bank Rakyat Indonesia, Curve DAO Token, Powerlong Real Estate Holdings, Ci Financial and more

• Bank Rakyat Indonesia (BBRI IJ) continues to march to the tune of its micro-lending capabilities with recent moves focused on growing its higher-yield Kupedes and ultra-micro loans. 
• Upward pressure on funding costs in 1Q2023 was more than offset by a shift to higher-yield loans and lower cost of credit, with greater efficiencies through digital initiatives.
• Bank Rakyat Indonesia (BBRI IJ) is somewhat overcapitalized which allows for higher dividend payout and higher ROEs over time. The bank remains a core holding in Indonesia 

• Curve Finance’s CEO Michael Egorov briefly found himself in the spotlight last week as Crypto Twitter spotted him depositing more CRV to Aave V2 in 3 large transactions worth a total of $35mn USD (represented by the orange plus signs below). 
• Currently, his position stands at nearly $200mn CRV deposited and $60mn USDT borrowed, making it one of the largest loans in DeFi history.
• So, why is this significant? And what are the implications for Aave and CRV?

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.

• Powerlong Commercial Management Holdings

• CI Financial is a publicly owned asset management holding company.
• Through its subsidiaries, the firm manages separate client focused equity, fixed income, and alternative investments portfolios.
• It also manages mutual funds, hedge funds, and fund of funds for its clients through its subsidiaries.