BBNI - Ready to enliven big bank superapps competition

BBNI - Ready to enliven big bank superapps competition Bank Negara Indonesia (BBNI) is ready to enliven the superapps competition by launching Wondr by BNI with several features similar to other bank superapps. The presence of the Wondr by BNI superapps will gradually replace BNI's previous mobile banking. At least, about six months after this superapps launched. BNI President Director Royke Tumilaar revealed that one of the aims of launching this latest superapps is to increase the contribution of low-cost funds or CASA owned. Moreover, this launch is right at a time when the industry is being hit by an era of high interest rates. "This is a game changer, that's why banks not only have to have healthy credit, but they also have to have adequate CASA. "In order to survive in economic conditions like this," said Royke. (Source : Kontan) Comment : We like the BBNI SuperApps launched, which will join and compete with the Big Bank SuperApps competition. With these new apps, we expect both the number of subscribers and active users to increase due to their more interesting features and friendly user interfaces. We also believe it will boost more transactional banking and, at the same time, benefit BBNI’s solid customer deposit mix. Maintain BUY, GGM TP of IDR6,530. Our GGM-based TP of IDR6,530 is pegged at 1.4x ‘24F P/B.