0243 GMT - Bank Tabungan Negara (Persero) is likely to continue to face headwinds this year, following weaker-than-expected results last year, Bahana Sekuritas analysts say in a research report. A tightening liquidity environment in Indonesia has put pressure on the profitability of major banks, the analysts note. The Indonesian bank may also see higher operating expenditures and slower loan growth this year, with management's loan-growth guidance lowered to 7%-8% for 2025 from 10%-11% for 2024, the analysts say. The brokerage cuts the stock's target price to IDR1,000.00 from IDR1,225.00 with an unchanged hold rating. Shares are 1.1% higher at IDR940.00. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
February 12, 2025 21:44 ET (02:44 GMT)
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