In today’s briefing:
- Bank Negara Indonesia (BBNI IJ) – Big on Aspirations
Bank Negara Indonesia (BBNI IJ) – Big on Aspirations
- Bank Negara Indonesia (BBNI IJ) remains a laggard amongst the top 4 banks in Indonesia in valuation terms, with improving returns leading to some upward re-rating.
- The bank continues to grow its high-quality corporate loans and consumer banking with a dramatic increase in its mobile banking users, which is helping to grow its low-cost CASA.
- BBNI remains an interesting proxy for Indonesia’s economy, with digital banking helping to drive returns. Valuations remain below peers but the bank is now approaching fair value.
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