BMRI - Will launch Livin' Paylater at the end of 2023

BMRI - Will launch Livin' Paylater at the end of 2023 Bank Mandiri (BMRI) is targeting the Livin' Paylater product or service to be launched at the end of 2023. According to BMRI, currently only selected customers can get the Livin' Paylater offer from Bank Mandiri on the Livin' application. This to ensure the best experience for BMRI customers. The selected customers are also existing customers who are currently listed by the bank. Based on the official Mandiri website, the loan facilities provided by Bank Mandiri have a choice of tenors of 1, 3, 6, 9, or 12 months, which can be used for QR transactions at all merchants via the QR pay menu via the Livin' by Mandiri application. (Source: Bisnis Indonesia). Comment : We like BMRI’s effort to continuously enrich its product. With its solid based customer, we believe its digital transaction will increase and thus will lead to a better contribution to BMRI overall earnings. Maintain BUY BMRI TP IDR6,300 (‘23F P/B of 2.3x).