Bank Rakyat Indonesia (BBRI IJ)
BUY / TP: IDR:4,200 (+18.3%)
Analyst: Yap Swie Cu
On course to meet our expectation
• Relatively stable top-line earnings
• Spike in operating expenses countered by softening credit cost
• To meet our 2020F projection with current profitability level
• Re-iterate BUY call