Bank Negara Indonesia (BBNI IJ): Results for 1Q22: still within estimates

Bank Negara Indonesia (BBNI IJ)
HOLD-UPF / TP: IDR:8,700 (-9.4%)
Analyst: Yap Swie Cu

Results for 1Q22: still within estimates
• One-time gains and eased credit cost boosted 1Q22 profit
• Burden of excess liquidity
• Loan quality continued to improve
• Keeps 2022 financial targets
• Maintain HOLD on its more demanding valuation