Bank Mandiri (BMRI IJ): Growth to sustain earnings performance

Bank Mandiri (BMRI IJ)
BUY / TP: IDR:6,800 (+38.5%)
Analyst: Yap Swie Cu

Growth to sustain earnings performance
• Minor change in the 2026F net profit projection
• Resilient 2M26 results
• Assigning higher cost of equity amid rising market volatility. Re-iterate BUY with lower TP of IDR6,800