Bank Danamon (BDMN IJ): 1Q19 results: Margin contraction continued drag earnings

Bank Danamon (BDMN IJ)
Analyst: Yap Swie Cu
HOLD-UPF / TP: IDR7,500 (-11.8%)
1Q19 results: Margin contraction continued drag earnings
• Margin contraction dragged earnings
• Healthy lending expansion
• …with relatively stable loan quality
• Maintain HOLD recommendation