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We expect 2H26 earnings growth to stay modest as opex catches up (FY26 CIR guided c.31% vs 30% in 1H26) and credit cost drifts toward 60bps, but the NIM inflection is the offset: 2Q26 loans booked 50-100bps higher, recovering corporate yields and SRBI reinvestment up c.60bps QoQ imply 5.5-5.9% NIM in 2H26 against 5.4-5.6% guide. At 2.5x 26F P/BV, near its 2008 trough, BBCA's 19.7% ROE and 84% CASA franchise stay the sector's most defensive.
Samuel Sekuritas Indonesia is a leading Indonesian securities brokerage firm. Established in 1997, the firm has grown to become one of the most respected and trusted financial services companies in the country. With a wide range of services and products, Samuel Sekuritas Indonesia has become a trusted partner to many investors, both institutional and individual.
The company offers a variety of financial services, including equity, debt and derivative securities brokerage services, research and portfolio management, asset management and capital market services, as well as a range of other investment solutions. Samuel Sekuritas Indonesia is also a leader in providing financial education and training, and has established itself as a leading provider of investor relations services.
The company has a strong research capability and is committed to providing its clients with up-to-date and reliable market analysis and recommendations. It also has a team of experienced and knowledgeable professionals who are dedicated to providing quality service to its clients. As a result, Samuel Sekuritas Indonesia has become a preferred partner for many investors in Indonesia.
In addition to its financial services, Samuel Sekuritas Indonesia also offers a range of other services, such as corporate finance and advisory services, mergers and acquisitions, and venture capital.
