BBCA: Good 1H19 Result - Strong Liquidity
31 Jul 2019
BBCA: Good 1H19 Result - Strong Liquidity
BBCA’s net interest income and net profit grew by 13.1% YoY and 12.6% YoY reaching to Rp 24.6 trillion (vs Rp 21.8 trillion in 1H18) and Rp 12.9 trillion (vs Rp11.4 trillion in 1H18), respectively. Meanwhile, the company has a strong liquidity amid a tight liquidity in the banking industry (95.5% LDR in May 2019), in which the LDR was registered at the level of 79.0% in 1H19 thanks to the company’s strategy to focuses on transaction payment system since 1990 and solid transaction in digitalization banking platform. Recently, BBCA’s share price has rallied by 18% YTD 2019 and traded slightly below its 5 years average forward PBV +2 stdev of 4.13x. Neutral rating.
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