0325 GMT - Bank Rakyat Indonesia (Persero)'s credit costs may increase this year owing to its clean-up of asset-quality issues, Bahana Sekuritas analysts say in a research report. Management guided for credit costs to rise to 3.0%-3.2% in 2025 versus 2024 guidance of less than 3%. Key assumptions include its bank-only segment carrying out IDR38 trillion-40 trillion of write-offs, while the rest will be allocated to subsidiaries, the analysts note. The bank expects a substantial increase in credit costs in 1Q owing to seasonality and fewer working days affecting collection efforts together with likely liquidity pressures. The analysts lower the stock's target price to IDR5,500.00 from IDR5,600.00 with an unchanged buy rating. Shares are 1.5% lower at IDR3,930.00. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
February 13, 2025 22:25 ET (03:25 GMT)
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