In today’s briefing:
- Bank Negara Indonesia (BBNI IJ) – Increasingly Quality Focused Through a Digital Lens
- Morning Views Asia: JSW Infrastructure, Medco Energi
Bank Negara Indonesia (BBNI IJ) – Increasingly Quality Focused Through a Digital Lens
- Bank Negara Indonesia (BBNI IJ)continues to focus on growing the quality end of its corporate loan book, and de-risking its smaller sized commercial loans, whilst growing consumer exposure.
- The bank’s digital initiatives remain core, with strong growth in mobile transactions by value as well as the number of users, whilst BNI Direct is driving digitisation of business customers.
- Hibank has launched, growing FMCG related loans fast, with the help of Mayora Indah. BNI valuations remain attractive, with the bank trading on 1.2x FY2023E PBV with 15% ROE.
Morning Views Asia: JSW Infrastructure, Medco Energi
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.
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