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)

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>ARTO posted 3Q24 net profit growth (+36% qoq, +71% yoy), driving 9M24 to form 69%/70% of our/cons (in line), driven by lower provision.</li><li>3Q24 NIM remained under pressure at 6.8% (-54bps qoq) as EA yield fell and CoF increased due to the higher TD portion. </li><li>We raised our LT ROE from 16.7% to 17.1%, as we increased our FY24 loan growth est. to 49.2%. Maintain Buy with a higher TP of Rp3,900.</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>

ARTO posted 3Q24 net profit growth (+36% qoq, +71% yoy), driving 9M24 to form 69%/70% of our/cons (in line), driven by lower provision.3Q24 NIM remained under pressure at 6.8% (-54bps qoq) as EA yield fell and CoF increased due to the higher TD portion. We raised our LT ROE from 16.7% to 17.1%, as we increased our FY24 loan growth est. to 49.2%. Maintain Buy with a higher TP of Rp3,900.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 Jago - 3Q24 Earnings: Low-Risk Loans Continue to Drive Growth

Bank Jago Tbk PT

Bank Jago - 3Q24 Earnings: Low-Risk Loans Continue to Drive Growth