ASEAN (Indo) & China-focused. Ex-Deputy HoR UBS.

Johannes Salim, CFA

Equity Bottom-Up

<ul><li><a href="https://www.smartkarma.com/entities/8447" target="_blank" data-smartkarma-citation="entities:8447:1">Bfi Finance Indonesia Tbk Pt (BFIN IJ)</a> has a strong risk management culture, as reflected in its low NPL ratios.</li><li>The company possesses differentiated competitive advantages and specializes in lucrative used car financing segment.</li><li>BFIN trades at a compelling 8.0x 2017 PE and 1.72x 2017 PBV with a solid 22.4% ROE, an 820 bps higher than Indo banking peers.</li><li>Our Gordon Growth Model-based intrinsic value yields Rp6,500/share, a 30% upside potential from current share price. </li></ul>

Bfi Finance Indonesia Tbk Pt (BFIN IJ) has a strong risk management culture, as reflected in its low NPL ratios.The company possesses differentiated competitive advantages and specializes in lucrative used car financing segment.BFIN trades at a compelling 8.0x 2017 PE and 1.72x 2017 PBV with a solid 22.4% ROE, an 820 bps higher than Indo banking peers.Our Gordon Growth Model-based intrinsic value yields Rp6,500/share, a 30% upside potential from current share price. 

BFI Finance Indonesia: An Overlooked "High Growth, High ROE" Consumer Financing Company