ASEAN Insight Provider, CrossASEAN Research

Angus Mackintosh

In Equity Sales and Research for more than 25 years covering Asian markets. Possesses in-depth knowledge of a wide range of companies, economies, and markets in Asia. Over his career, he has specialised in HK/China and ASEAN markets at various different Investment Banks, most recently heading equities in Indonesia for Bank of America Merrill Lynch in Jakarta for more than three years. Whilst in Jakarta, he produced a well-read daily and weekly product on the Indonesian market, which included company visits, as well as political, economic and sector commentary. A former racing skier, who enjoys ultra-marathons and surfing in his spare time.

ASEAN Insight Provider

Bank Central Asia (BBCA IJ) - Growth Momentum Maintained with Lower Credit Costs

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

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

Bank Central Asia - Healthy growth continues (BBCA IJ, CP IDR10,650, BUY, TP IDR11,675, Banks)

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/bank-central-asia-tbk-pt" target="_blank" data-smartkarma-citation="entities:440:1" rel="noopener">Bank Central Asia (BBCA IJ)</a> booked another set of impressive numbers with strong loan growth and improving NIMs, with growth in its loans to assets and improving non-interest income.</li>
<li>Loan growth was driven by a strong performance from commercial, SME, consumer and corporate lending, with the bank also continuing to reinforce its lead in transactional banking in Indonesia.</li>
<li>
<a href="https://www.smartkarma.com/entities/bank-central-asia-tbk-pt" target="_blank" data-smartkarma-citation="entities:440:1" rel="noopener">BBCA</a> has one of the lowest funding costs in the industry with a CASA ratio above 82% helping to underpin its funding costs and profitability, justifying its higher valuations.</li>
</ul>



Bank Central Asia (BBCA IJ) booked another set of impressive numbers with strong loan growth and improving NIMs, with growth in its loans to assets and improving non-interest income.
Loan growth was driven by a strong performance from commercial, SME, consumer and corporate lending, with the bank also continuing to reinforce its lead in transactional banking in Indonesia.

BBCA has one of the lowest funding costs in the industry with a CASA ratio above 82% helping to underpin its funding costs and profitability, justifying its higher valuations.


Bank Central Asia (BBCA IJ) - Transactional Dreams