JAKARTA, Indonesia, May 10, 2024 /PRNewswire/ -- PT. Bank Rakyat Indonesia (Persero) Tbk (IDX: BBRI) reports a profit of IDR 15.98 trillion for the first quarter of 2024, prompting most analysts to maintain a 'Buy' recommendation on BBRI shares.
Bank Rakyat Indonesia reported a profit of IDR 15.98 trillion for the first quarter of 2024, prompting most analysts to maintain "buy" recommendation on BBRI shares.
According to Bloomberg Technoz, based on a Bloomberg consensus, 33 analysts or 97.1% recommend buying BBRI. The consensus also points to a high price target for BBRI shares in the next 12 months, pegged at IDR 6,653.
Sucor Securities analyst Edward Lowis reports that BBRI's net profit and revenues are robust, supporting a 16% increase in Net Interest Income due to strong credit growth. Edward recommends BBRI shares as a Buy with a price target of IDR 6,400, stating, "Our price target is equivalent to 2.8x book value in 2024, assuming a 23% return on equity and a 12% cost of equity."
Ciptadana Securities analyst Erni Marsella Siahaan noted that BBRI's quarterly net profit fell 1.4%, slightly below her expectations but in-line with the consensus forecast of 24% for the full year. Nevertheless, Erni recommends Buy with a price target lowered from IDR 7,150 to IDR 7,000 per share.
By the end of March 2024, BRI has disbursed credits amounting to IDR 1,308.65 trillion, a 10.89% year-over-year (YoY) increase, with IDR 1,089.41 trillion (83.25%) allocated to the MSME (Micro, Small and Medium Enterprise) segment. The double-digit growth in credit disbursement has positively impacted the increase in the company's assets, with BRI's assets reaching IDR 1,989.07 trillion, a growth of 9.11% YoY.
Specifically, all loan segments in BRI showed growth YoY: micro segment by 10.51% to IDR 622.61 trillion, consumer segment by 11.62% to IDR 193.96 trillion, small and medium segment by 8.06% to IDR 272.85 trillion, and corporate segment by 15.10% to IDR 219.24 trillion.
Earlier, BRI's President Director, Sunarso, expressed optimism that BRI could achieve double-digit credit growth, a 10-12% YoY increase, despite high interest rates. By the end of Q1-2024, BRI recorded an LDR of 83.28% and maintained a strong CAR of 23.97%. "We currently do not have liquidity issues as it remains ample. We will continue to maintain this healthy liquidity and sustain double-digit credit growth," said Sunarso.
For more information on BRI, please visit www.bri.co.id
Business zone:
Area:
Address: 1860-4 Serakaki, Onna, Kunigami-gun, Okinawa,,Okinawa Main island,Japan
Hoshino Resorts BEB5 Okinawa Serakaki reserve:020-86007566 (CouponCode:)
Busy or no answer, online booking please!
Catering Entertainment:
Meeting room reserve
Hoshino Resorts BEB5 Okinawa Serakaki address: 1860-4 Serakaki, Onna, Kunigami-gun, Okinawa,,Okinawa Main island,Japan
Hoshino Resorts BEB5 Okinawa Serakaki ◎ Hoshino Resorts BEB5 Okinawa Serakaki
Disclaimer: We are partners of Ctrip (including Tongcheng Elong, Qunar,Zhuna, etc.), booking, Agoda and Expedia. We only provide Hoshino Resorts BEB5 Okinawa Serakaki online booking service for you. Your reservation will be forwarded to the hotel by Ctrip, Tongcheng Elong and other partners. If there are problems such as liquidated damages, Tongcheng ELong or Ctrip will deduct the money and transfer it to the hotel, We are not the official website of Hoshino Resorts BEB5 Okinawa Serakaki, please know.