- Riset Terkini
April 21, 2017 09:56 WIB
Bank Central Asia: Cautious outlook but still comfortable (BBCA IJ. IDR17,325. BUY. TP IDR18,300)
The decline in the assets yield was mainly driven by the corporate segment (-100bps yoy to 9.2% from 10.2% in 1Q16). However, the management also said that all corporate loans had been repriced at lower rates. Loans in other segments had also been repriced. For mortgages, the management foresees that further declines are highly likely due to the stiff competition in the market.
Operating expenses rose by 19.5% qoq mainly due to accrued bonuses that were paid in April 2017. Hence, the bank’s cost efficiency ratio rose to 52.8% in March 2017 from 49.6% in 1Q16 (43.9% in FY17).
Loans declined 1.8% ytd as corporate loans and commercial & SME loans slid by 1.5% ytd and 4.7% ytd, respectively.
NPLs increased to 1.5% driven by increases in the corporate segment (+40bps) and the commercial & SME segment (+60 bps). The management said that the increase in NPLs in the corporate segment was caused by the deterioration of a transportation company loan that had been restructured last year. The management said that NPLs risk is still high.
April 21, 2017 09:55 WIB
To see the full version of our snapshot, please click here
TECHNICAL ANALYSIS CORNER
To see the full version of our technical analysis corner, please click here
April 20, 2017 10:34 WIB
Astra International: Financial services boosted quarterly net profits
(ASII IJ. IDR8,375. HOLD. TP IDR9,000)
- Danareksa Equity Snapshot - Jakartans have chosen their new governor 20 April 2017
- Danareksa Equity Snapshot - 20 April 2017
- Danareksa Equity Snapshot - UNTR 20 April 2017
- Danareksa Equity Snapshot - BBTN 18 April 2017
- Danareksa Equity Snapshot - Automotive Sector April 2017