BBNI - BNI Finance Targets Investment Financing of IDR 1.2 tn

BBNI - BNI Finance Targets Investment Financing of IDR 1.2 tn Bank Negara Indonesia (BBNI) sister company, BNI Multifinance or BNI Finance targets investment financing to increase next year. According to the company investment financing target next year is IDR 1.2 trillion, or doubled vs this year target. As of Nov23 investment financing reached IDR 550 billion. (Source: Kontan). Comment: We believe the target is achievable backed by continuing recovery momentum. Limited loan repricing and potential peaking interest should become another catalyst that could maintain demand appetite. Maintain BUY with DDM TP of IDR5,750 (1.3x ‘24F P/B).