BBTN - Will sell NPL in 2H23

Bank Tabungan Negara will sell NPL in 2H23. The asset sales are expected to support the bank performance. Management stated that the amount of asset sales is at least IDR1tn. There is a possibility to execute asset sales more than one time, with total amount of IDR2 tn. (Source : Kontan). Comment : With the asset sales, BBTN could record better CoC and lesser provisions means better earnings. Yet, we also expect growth to be driven more by new booking growth and asset quality improvement, rather than selling npl assets.