BBRI - Optimist 1Q23 earnings to remain positive

Bank Rakyat Indonesia (BBRI) projected 1Q23 PATMI to be better than in 1Q22, which will remain driven by SME, especially micro segment. BBRI also optimist loan channelled could grow within the range of 10%-12% yoy. Several strategy to underpin growth are improving cost of fund structure, transformation and innovation in digital business to increase fee based income, while last but not least is continuously looking for new source of growth both inorganic and organic through ultra micro ecosystem integration. (Source : Kontan). Comment : We share the same opinion with the management and believes that BBRI loan channeled could remain positive this year. We also expect 1Q23 earnings to arrive within market expectation and portion on first quarter of this year could record a similar figure with last year.