BCA Sekuritas : BTJM remains our top pick among small cap banks

Date: 19 january 2015

Categories : IRU

Unaudited results of Bank Jatim are significantly upbeat considering the difficult FY14 for the majority of the banks. Unaudited results accounts for 91.7% and 95% of consensus and our FY14 forecast, respectively as our loan growth estimate was 2ppts higher. In overall, loan growth remained strong at 18.6% YoY while NPL ratio came down to 3% from 3.4%. Net profit grew by 16.2% YoY or 34.5% YoY in 4Q14 and NIM remained high at 7.14%. Read More