BBNI - Optimistic continue to grow in ‘24

BBNI - Optimistic continue to grow in ‘24 Bank Negara Indonesia (BBNI) is optimistic that it can grow better this year in line with the business transformation strategy that has been implemented since last year. In terms of the intermediation function, BNI targets credit to grow 9% -11% this year. This is higher than the expansion in 2023 which only rose 7.6%. The net interest margin (NIM) will be maintained at the level of 4.5%. Credit costs are also expected to fall in line with improvements in the company's asset quality. (Source : Kontan). Comment : We believe 2024 will become another year for the bank. Loan will remain grow at around FY23 level with potentially better earnings growth which will be underpin by stable improving NII, lower CIR and provisions.