Bank Tabungan Negara (BBTN IJ): Sturdier fundamentals

Bank Tabungan Negara (BBTN IJ)
BUY / TP: IDR:1,600 (+22.6%)
Analyst: Yap Swie Cu

Sturdier fundamentals
• Adjustment in the NII continued in 2Q25
• Strengthens loan-loss buffer further
• Earnings projection tweaked, re-iterate BUY on stronger fundamentals and better outlook