Bank Rakyat Indonesia (BBRI IJ): Strong 1Q22 results

Bank Rakyat Indonesia (BBRI IJ)
BUY / TP: IDR:5,200 (+7.4%)
Analyst: Yap Swie Cu

Strong 1Q22 results
• Maintaining strong earnings momentum
• Keeping the high margin
• Lower provisioning as loan quality was under control
• 2022 targets unchanged despite challenges in economic recovery
• We keep earnings projection and BUY recommendation