External broker reports(aggregated public sources), BRI Danareksa Research

BRI Danareksa Research

As a one-stop financial solution with the vision to be the most valuable securities house, BRI Danareksa Sekuritas (BRIDS) has maintained an excellent track record and extensive experience in the capital market as an underwriter, broker, and financial advisor for individual, institutional, foreign and domestic, private and government clients. Established in 1992, PT Danareksa Sekuritas is a securities company that performs activities as a securities broker, underwriter, or arranger and financial advisor. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

BCA - Focus on LDR, Which Had Historically Been a Problem, Too Low, With Stable Credit Metrics

Bank Central Asia (BBCA IJ) - Transactional Dreams

The Week That Was in ASEAN@Smartkarma - Bank Central Asia, Grab Holdings, and Thai Banks

As a one-stop financial solution with the vision to be the most valuable securities house, BRI Danareksa Sekuritas (BRIDS) has maintained an excellent track record and extensive experience in the capital market as an underwriter, broker, and financial advisor for individual, institutional, foreign and domestic, private and government clients. Established in 1992, PT Danareksa Sekuritas is a securities company that performs activities as a securities broker, underwriter, or arranger and financial advisor.

Equity Bottom-Up

<ul><li>BBCA’s higher loan growth and improving NIM offset the higher CoC, resulting in 3Q24 net profit of Rp14.2tr (+1% qoq, +16% yoy), in line.</li><li>Mgmt surprisingly raised its FY24F NIM guidance from 5.5-5.6% to 5.7- 5.8%, while maintaining its CoC at c. 4% and LaR ratio at c. 6% </li><li>We maintain BUY with a higher TP of Rp12,800 as we tweaked our FY24- 25F earnings by +3%, resulting in a higher FY25F ROE.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

BBCA’s higher loan growth and improving NIM offset the higher CoC, resulting in 3Q24 net profit of Rp14.2tr (+1% qoq, +16% yoy), in line.Mgmt surprisingly raised its FY24F NIM guidance from 5.5-5.6% to 5.7- 5.8%, while maintaining its CoC at c. 4% and LaR ratio at c. 6% We maintain BUY with a higher TP of Rp12,800 as we tweaked our FY24- 25F earnings by +3%, resulting in a higher FY25F ROE.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Bank Central Asia (BBCA IJ) - Solid 3Q24 Performances