Bank Central Asia (BBCA IJ)
BUY / TP: IDR:40,800 (+32.4%)
Analyst: Yap Swie Cu

One of the first to recover
• Cautious expansion
• Thickening its buffer further
• Healthy 2M20 results
• Lower earnings projection, but bottom-line profit may still rebound to pre-pandemic level. We re-iterate our BUY rating