In today’s briefing:
- Bank Rakyat Indonesia (BBRI IJ) – Steering Towards Higher Returns
Bank Rakyat Indonesia (BBRI IJ) – Steering Towards Higher Returns
- Bank Rakyat Indonesia (BBRI IJ) continues to be the key and unique proxy for micro and ultra-micro lending in Indonesia, with 1H2023 reflecting its increasingly strategic positioning in the space.
- Microloans now account for 48% of loans and of this higher-yielding Kupedes microloans make up an increasingly larger portion, as it diversifies its KUR exposure.
- The bank is set to see improving returns in 2H2023, with loan growth expected to pick-up and NIMs should also improve. 2.6x PBV with an ROE of 20.0% is attractive.
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