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Corporate Updates

Bank Danamon (BDMN IJ): Lower-than-expected 2020 results

Bank Danamon (BDMN IJ)
HOLD-OPF / TP: IDR:3,650 (+15.1%)
Analyst: Yap Swie Cu

Lower-than-expected 2020 results
• Back to a loss in 4Q20
• Stable top-line earnings
• Soaring credit cost dragged bottom-line earnings
• Cautious outlook retained for 2021. We re-iterate our HOLD call
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