BMRI - Cooperates with Agung Podomoro Land

Bank Mandiri (BMRI) actively making innovation to strengthened its KPR business. This was inline with industry optimism on growing property demand on the back of resilient domestic economic activity. BMRI held property expo namely Find Your Property (FYP) with Easy Pay 2023 promotion, collaborated wirg Agung Podomoro Land. The event also offers special promotion such as free provisions cost, special loan yield rate as well as low down payment. (Source : Kontan). Comment : We like BMRI’s effort to strengthened its KPR loan segment which overall could underpin total loan growth this year. The bank saw healthy loan growth at 12.4% yoy to IDR1,205.46 tn and beating FY23 management's guidance of 10-12% yoy and our expectation of 10.3% yoy. Together with higher loan yield we expect BMRI’s earnings in 2023 will continue to be solid and remain arrive higher year-on-year.