BBTN: 1Q19 Inline Result, Neutral Fair Value Rp2,750
29 Apr 2019
BBTN: 1Q19 Inline Result, Neutral Fair Value Rp2,750
BBTN managed to book an inline result in 1Q19, in which the net interest income (NII) and net profit have reached by 21% and 22% to our 2019 forecast. The NII and net profit grew by 1.4% YoY and 5.7% YoY attained to Rp 2.40 trillion and to Rp723 billion, respectively. Meanwhile, BBTN’s total NPL slightly deteriorated to the level of 2.92% in 1Q19 which came from worsening Non Performing Financing (NPF) sharia business as a consequence of PSAK 71 implementation started in 4Q18. Currently, BBTN share price was traded precisely in its 5 years average forward PBV of 1.01x. Maintain Neutral on the counter.
Baca selengkapnya disini atau download reportnya disini
