Bank Syariah Indonesia (BRIS IJ): Earnings revised down on tougher outlook

Bank Syariah Indonesia (BRIS IJ)
BUY / TP: IDR:3,000 (+10.7%)
Analyst: Yap Swie Cu

Earnings revised down on tougher outlook
• Tight funding competition
• Rising financing risk
• New fee-based businesses to support future growth. Re-iterate BUY with new TP of IDR3,000