Corporate Updates

Bank Mandiri (BMRI IJ): Higher-than-expected 3Q23 results

Bank Mandiri (BMRI IJ)
BUY / TP: IDR:6,900 (+20.5%)
Analyst: Yap Swie Cu

Higher-than-expected 3Q23 results
• Lower-than-expected credit cost boosted earnings
• Upper-line earnings were within expectation
• Resilient TPF gain partly driven by successful digital transformation
• Another defensive choice. Re-iterate BUY

Corporate Updates

Bank Mandiri (BMRI IJ): Higher-than-expected 3Q23 results

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