Update Kinerja BBCA

 

Bank Central Asia

4Q23: Strong growth, a write-back finish the year

4Q23 PATMI Rp12.2t, flat QoQ. FY23 Rp48.6t, up 19% YoY

• Guidance overall was positive:

⇒ 9-10% loan growth for 2024 (back-ended to 2H24);

⇒ NIM flat 5.5-5.6%, even with BI Rate cuts (50-75bps assumed);

⇒ Credit cost 30-40bps with Loan at Risk declining 1-3% to 4-6%;

⇒ Cost/Income 34-35% (vs 37% for FY23) as 2023 included one offs

(pension liabilities) and elevated hiring

⇒ Fee income growth of single digits (<10%)