BBRI – Targeting credit card business to grow 30% yoy

Bank Rakyat Indonesia (BBRI) view credit card transaction could grow by 30% yoy in the month of Ramadhan this year. Partnership with Citilink under the program launched of BRI Citilink Online Travel Fair (COTF) is expected to become one of the driver. From this event alone, BBRI expect 200.000 transactions, with flight average price tag between IDR700.000-IDR800.000. (Source : Investor Daily). Comment : Promotions such as additional discount, flash sale and special ticket price are most often than not being offered to sweetened the fair and attract more transactions, in our view. Despite making only small contribution, we like BBRI effort to capitalize seasonal momentum to underpin overall earnings growth.