In today’s briefing:
- Bukalapak (BUKA IJ) – Storefronts, Specialty, and Financing
- BNP Paribas’ Profits Jump, To Lift Payout Target
Bukalapak (BUKA IJ) – Storefronts, Specialty, and Financing
- Bukalapak (BUKA IJ) continues to expand the range of products it offers to its Mitras including logistics services and financial products but it is now extending more service to merchants.
- The platform’s Storefront offering aims to enable merchants which often operate through social commerce channels to improve their ability to attract and maintain customers and to facilitate payments and logistics.
- The Allo Bank stake was bought at 1.7x PBV and will grow through an ecosystem of 100m potential customers. Bukalapak (BUKA IJ) looks like value with positive newsflow.
BNP Paribas’ Profits Jump, To Lift Payout Target
BNP Paribas reported a jump in its annual 2021 profits by 34.3% to €9.5bn ($10.9bn). The group’s revenues rose 4.4% to €46.2bn ($52.8bn). Profits were helped by its cost of risk falling 49% through the year to €2.9bn ($3.3bn) alongside a sharp 46% rise in operating income to €12.2bn ($13.9bn). Its cost of risk (Term of the Day, explained here) dropped due to the limited number of new defaults and a high basis of comparison with respect to 2020. Growth was visible across its domestic, international financial services, and investment banking divisions. BNP Paribas lifted its shareholder payout target to 60% of profits via a combination of cash dividends and share buybacks as compared to its prior 50% policy. Its CET1 ratio stood at 12.9% as of end-December 2021, up 10bp YoY.
Before it’s here, it’s on Smartkarma
