Bank Negara Indonesia (BBNI IJ): In-line 2024 result

Bank Negara Indonesia (BBNI IJ)
BUY / TP: IDR:6,400 (+37.6%)
Analyst: Yap Swie Cu

In-line 2024 results
• In-line results
• One-off jump in interest income amid the revenue windfall from KUR subsidy in 4Q24 …
• … with an upsurge in credit cost as well
• High funding cost remains the major challenge in 2025. Re-iterate BUY on the undemanding valuation