In today’s briefing:
- Indonesian Banks Screener; Mandiri Is Our Top Pick on Quality and Return Trends
- Morning Views Asia: Alam Sutera Realty, Citicore Renewable Energy
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Indonesian Banks Screener; Mandiri Is Our Top Pick on Quality and Return Trends
- Bank Mandiri is our top pick for its quality attributes, its premium and growing pre- and post-provision returns; Mandiri provides a better valuations to returns mix than Bank Central Asia
- Bank Negara is the value pick with its low PE multiples, its attractive PEG ratio, whilst also improving pre- and post-provision returns with cost of risk well controlled
- Bank Rakyat registered worsening pre- and post-provision returns in 4Q23, with cost of risk worsening; this reflects its heavily MSME focused loan mix which keeps structural cost of risk high
Morning Views Asia: Alam Sutera Realty, Citicore Renewable Energy
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.