Bank Permata (BNLI IJ): In better shape, but no catalyst to share price if takeover talks end

Bank Permata (BNLI IJ)
Analyst: Yap Swie Cu
Not rated
In better shape, but no catalyst to share price if takeover talks end
• 4M19 net profit jumped 158% YoY
• Slight improvement in margin amid better loan profile
• Maintaining high credit cost to preserve coverage level
• Share price under-pressured amid rumor of no more takeover bids
• Valuation