PPERY - Bank Mandiri: Asset Quality Continues To Be The Focus With Tailwinds From Rate Cut
Elevator Pitch
I like Indonesia-listed PT Bank Mandiri (Persero) Tbk (OTCPK:PPERY) (OTCPK:PPERF) [BMRI:IJ], because of its improved asset quality in recent years and its status as a beneficiary of the recent benchmark interest rate cut.
There are renewed concerns over the bank's asset quality and the possibility of increased provisioning, with recent developments associated with loans extended to Krakatau and Duniatex. But the fact that Bank Mandiri has chosen to maintain its full year FY2019 cost of credit and gross NPL ratio guidance suggests the company's confidence in Krakatau Steel's debt