BBTN - To strengthened digital security

BBTN - To strengthened digital security Bank Tabungan Negara (BTN) has budgeted capital expenditure (capex) this year to strengthen the security capacity of information technology (IT) systems and develop digital banking services worth around IDR550 bn. Approximately 30% of the capex budget is allocated to increasing cyber resilience and security. The majority of the funds are used to increase the capability and capacity of e-channels, support systems to strengthen transactions in the corporate segment related to the housing ecosystem, increase capabilities for data analysis and utilization, and strengthen capabilities in the security area to deal with cyber-attacks. In order to anticipate cyberattacks, BBTN already has and implements three pillars: people, process, and technology. In addition, BTN has implemented three layers of defense in cybersecurity vernance, namely IT security, IT risk management, and IT compliance and auditing. (Source : Kontan). Comment: Information and technology security play’s crucial role as banks owned private and confidential information of its customers which considerably very sensitive. As such, we like the bank plan to continue mitigate the risk of cyber-attacks which could happened at any time. Aside from this, we think its plan to increase the capability and capacity of e-channels, support systems to strengthen transactions in the corporate segment related to the housing ecosystem could underpinned BBTN’s better services ing forward. Moreover, on the financial metrics front, we expect the bank to record better result in the following quarters. Assuming 1H23 results will improves qoq and 3Q23 earnings will surpassing KBVS’s and street expectations, we might see BBTN’s ‘23F to arrives within ours and consensus forecast.