MAY 2013 - Kresna Securities

Monthly Bulletin
MAY 2013
BANKING AND FINANCE
Loan
(Rptr)
3,000
2,500
2012 2013
two years), up from US$85.0m last year. Source: The Jakarta
Post
BBNI to distribute Rp113.0 dividend per share. Bank
Tabungan Negara Indonesia (BBNI) is reported to be ready to
distribute a total of Rp2.1tr dividend, equivalent to Rp113.0 per
share, on 16May13. The dividend payout ratio is said to stand at
30.0%, with a dividend yield of 2.2%. Source: Koran Tempo
2,000
1,500
2,688
2,719
2,184
2,203
2,266
2,317
2,386
2,453
2,470
2,511
2,556
2,585
2,631
2,708
BDMN: Net profit grew by 12.0%. Bank Danamon (BDMN)
posted a net profit of Rp1.0tr or increased by 12.0% YoY. This
growth supported by increase in mass market, small business,
and commercial segment. On the other hand, Danamon’s CAR
and ROA sets to 20.0% and 2.7%. in the 1Q13, Danamon
increased their “cheap fund” or total DPK by 4% to Rp113.8tr
while the deposit decreased by 11% to Rp47.2tr. Source:
Investor Daily
1,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Source: Bank Indonesia, CEIC
NPL rate
(%)
2.5
2.3
2.1
1.9
1.7
1.5
2.4
2.3
2.0 2.0
2.3 2.3
2.3
2.2 2.2
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Source: Bank Indonesia, CEIC
2.2
2.1
2012 2013
BMRI and BBTN to distribute dividend. BMRI (Bank Mandiri)
and BBTN (Bank Tabungan Negara) are to distribute Rp 199.34
and Rp38.74 dividend per share, respectively. BMRI is to pay on
16 May13, while BBTN on 10 May13. Dividend yield of BMRI
and BBTN are 2.0% and 2.3%, respectively. Source: Bisnis
Indonesia
2.1
2.0
1.9
NISP to launch Rp900.0bn notes. Bank OCBC NISP (NISP)
plans to issue Rp900.0bn medium term notes to support its
lending this year. The notes will have 7.0% offering yield and is
expected to mature in 2016. The notes have obtained AAA rating
from Pefindo. Source: The Jakarta Post
BNLI books Rp100.7tr credit. Bank Permata (BNLI) has
booked Rp100.7tr credit as of 1Q13, up 36.0% YoY. Operating
profit grew 12.0% to Rp463.0bn, while net profit rose 7.0% YoY
to Rp356.0bn. Net NPL ratio went down to 0.4% (from 0.6%
previously), while CAR increased to 16.2%, and LDR rose to
89.5% (from a previous 86.8%). Source: Investor Daily
IPO Update: Nobu Bank to sell 52.0% stake in May13.
Following the public expose held on Tue (16/13), Nobu Bank
plans to sell 52.0%, equivalent to Rp862.0bn, of its capital on
May13; the proceeds will be used for business expansion. The
issue price is expected to range between Rp325.0-400.0 per
share, with P/E of 20.8 to 25.0x. Nobu Bank plans to open 70
offices and targets loan growth of up to 50.0% YoY in FY13.
Source: The Jakarta Post
BMRI set to boost corporate loans. For FY13, Bank Mandiri
(BMRI) eyes 18.0% YoY increase in corporate loans to
Rp149.0tr, while aiming its corporate deposits to grow by 30.0%
YoY to Rp81.9tr. BMRI planned to set aside US$120.0m-
US$130.0m capex for IT investment (same amount for the next
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that could affect objectivity of this report. Hence, this report should form as one of many others factors in making investment decisions. PLEASE SEE ANALYST
CERTIFICATION AND IMPORTANT DISCLOSURES AT THE END OF THIS REPORT
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