Bank Jago (ARTO IJ): Earnings take a positive trajectory

Bank Jago (ARTO IJ)
Not rated
Analyst: Yap Swie Cu

Earnings take a positive trajectory
• Scaling up profit
• Expanded margin on utilization of excess liquidity
• Growing lending from partnerships and ecosystem
• Piling up provisions
• Cost-to-income ratio is in a declining trend, but to continue at high rate in foreseeable future
• Business on right track, valuation is based on aggressive future prospects