Top Stories
Company Results | Bank Tabungan Negara (BBTN IJ/BUY/Rp1,260/Target: Rp1,565)
BBTN delivered a 16.8% qoq (61.3% yoy) net profit in 2Q26, stronger than expected, driven by a 130bp decline in CoC despite softer core operating profit. Management highlighted continued execution of its Beyond Mortgages strategy through higher-yield consumer lending, ecosystem expansion and digitalisation. While liquidity remains tight, the bank is prioritising funding quality over aggressive growth, with improving asset quality and growing fee income supporting earnings resilience. Maintain BUY with a target price of Rp1,565.
Technical Analysis
Bank Rakyat Indonesia | BBRI IJ
Trading Buy Range: We have a technical Buy at Rp2,960, and take profit at Rp3,200.
Telkom Indonesia | TLKM IJ
Trading Buy Range: We have a technical Buy at Rp2,650, and take profit at Rp2,850.
Top Stories
Company Results | Bank Tabungan Negara (BBTN IJ/BUY/Rp1,260/Target: Rp1,565)
BBTN delivered a 16.8% qoq (61.3% yoy) net profit in 2Q26, stronger than expected, driven by a 130bp decline in CoC despite softer core operating profit. Management highlighted continued execution of its Beyond Mortgages strategy through higher-yield consumer lending, ecosystem expansion and digitalisation. While liquidity remains tight, the bank is prioritising funding quality over aggressive growth, with improving asset quality and growing fee income supporting earnings resilience. Maintain BUY with a target price of Rp1,565.
Technical Analysis
Bank Rakyat Indonesia | BBRI IJ
Trading Buy Range: We have a technical Buy at Rp2,960, and take profit at Rp3,200.
Telkom Indonesia | TLKM IJ
Trading Buy Range: We have a technical Buy at Rp2,650, and take profit at Rp2,850.
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