BBTN - Grand launching Bale Super Apps, targeting 5mn users by 2025

BBTN - Grand launching Bale Super Apps, targeting 5mn users by 2025 Bank Tabungan Negara (BBTN) officially launched the grand opening of the super app bale by BTN, which coincided with the 75th anniversary of BTN on February 9. BTN's President Director, Nixon L.P Napitupulu, stated that the presence of the super app bale is BTN's step to keep up with the rapid development of digitalization in banking services. Through this launch, BTN targets to have between 3.6 to 5 mn users by the end of 2025, from the current approximately 2.3 mn users as of January 2025. Digitalization has become something that cannot be ignored, it has become a necessity for today's banking business. And today we have launched it previously in a soft-launching last year, but today we are officially doing the grand launching of bale by BTN, a super app that will provide a banking experience, a new banking experience for all our customers," Nixon stated during the opening of the Grand Launching of bale at Istora Senayan, Jakarta, Sunday (9/2). (Source : Kontan) Comment : "BTN's "bale by BTN" super app enters a fiercely competitive digital banking market. By offering a user-friendly platform and leveraging successful initiatives like BTN Digital Store, the bank aims to differentiate itself. Sustaining user engagement and navigating cybersecurity risks are crucial for long-term success. This launch marks a pivotal point in BTN's digital transformation, positioning them to solidify their market position and contribute significantly to Indonesia's growth. Maintain BUY, GGM-based TP of IDR1,530 (0.5x ‘25 P/B).