Bank Syariah Indonesia (BRIS IJ): Results beat estimates on lower provisions

Bank Syariah Indonesia (BRIS IJ)
HOLD / TP: IDR:2,350 (-10.6%)
Analyst: Yap Swie Cu

Results beat estimates on lower provisions
• Lower provisioning propped up profit
• Mounting pressure of rising funding cost
• Keeping 2024 guidance
• Revising up projection on lower provisioning. Re-iterate HOLD as share price rally pushes up valuation