Market Flash: iSHARES MSCI Indonesia Investable Market Index Fund (EIDO:US) PRICE: 28.530 USD Down -0.360 (-1.246%) >>> BI: Rupiah Melemah Akibat Kondisi Eropa >>> Pertemuan FED pertimbangkan langkah baru dorong ekonomi >>> KIJA akan Terbitkan MEN Valas USD150 Juta >>> PT Indika Energy Perusahaan Teladan Dunia 2011 >>> Govt Promises Revision of Cost Recovery Regulation >>> BPMigas Demands PGN to Pay US$6 per MMBTU >>> Jababeka to Raise US$150 Million from Debt Markets >>> SCG Chemicals buys Chandra Asri >>> Solusi Tunas eyes Rp380 bio IPO >>> SMR Utama scouts Rp300 bio IPO >>> Alam Sutera picks two bond arrangers >>> ASII Tetap Rajai Penjualan Mobil Agustus 2011 >>> Perusahaan Thailand kuasai Saham TPIA senilai Rp 3,76 Triliun >>> Agis Main ke Tambang, Sahamnya Masuk Dalam Pengawasan >>> ACES Mendekati The Northern Agar Mau Kurangi Kepemilikan >>> IHSG masih harus berjuang terus bertahan diatas MA200 >>> Melirik Peluang Akumulasi di Saham Perbankan >>> Analisa Saham BUMI: Kuat Bertahan & Berpeluang Kembali Uptrend >>> Analisa Saham JSMR: Bertahan Di Support, What Next? >>> INDF Tertahan Di Area Support Kuat, Berpeluang Rebound >>> ASII Break Minor Support, Sell on Strength >>> ADRO Membentuk Descending Wedges, Berpeluang Rebound Terbatas >>> Wall Street ends flat as early gains evaporate >>> Fed begins policy meeting, tiptoes toward easing >>> Fed meeting to help decide on long-term Treasuries >>> Greece Makes 'Good Progress' in Reform Talks: EC >>> China worried Europe debt crisis will hit trade >>> China could roll out 4.65tr yuan stimulus package >>> IMF sees Mideast stagnation >>> NYMEX-Crude ends higher at Oct contract expiry >>> Asian Crude Palm Oil Up On Technical Buying, Soyoil >>> Foreign net Sell - 61.785.746

Senin, 28 Februari 2011

Banking sector, upward trajectory - CLSA

Bret “the pool” Ginesky highlighted that Indonesia’s financial system is starting to pick up strength earlier than we anticipated. Seasonal weakness in 1Q appears to have subsided and loan growth has returned to YE10 levels, some 2 weeks earlier than in 2010. YoY loan growth remains impressive at 22%.

Strong loan growth and low NPLs are the two main reasons for Bret’s bullish stance on Indo banking sector (despite rising rates). Thus it is encouraging to see loan disbursement picking up quickly in the year.

Key points from the report:
Loan disbursed at Rp1,744tn has exceeded 2010 year end, growing at an impressive 22% YoY
While deposit growth is negative (-36bps) YTD, it is better than the decline of -160bps in the first 2 months of 2010
CASA ratio remains 200bps above Feb 2010 levels at 54%
Strong loan disbursement + weaker deposit growth = rising LDR to 76.7%, just 30bps below its previous peak in Dec 2009
The higher credit growth is within expectations, and bodes well for low LDR, well capitalized banks.
Top pick is BNI (BBNI I).
Posted by Saham Pilihan at 14.59

Tidak ada komentar:

Posting Komentar

Langganan: Posting Komentar (Atom)