Bank Tabungan Negara (BBTN IJ): Loan acceleration to drive earnings

Bank Tabungan Negara (BBTN IJ)
BUY / TP: IDR:1,600 (+34.5%)
Analyst: Yap Swie Cu

Loan acceleration to drive earnings
• Lending reached the highest annual growth in October
• Earnings started to reflect impact of loan growth acceleration
• Re-iterate BUY on its positive outlook and attractive valuation