Monday, June 24, 2013

PT Bank Sinarmas Tbk deserves for attention.

PT Bank Sinarmas Tbk (BSIM, Rp225) deserves for attention. Subsidiary of PT Sinar Mas Multiartha Tbk (SMMA, Rp4.700) plans to expand its network from 325 to 400 branches, mainly in affiliated companies.

The company targets 19% credit growth, especially with the entry into the SME segment. Target SMEs pegged 6% of total loans BSIM, from the current position that is less than 1%.



Recommendation from affiliated companies of Sinar Mas Group as a mainstay BSIM can lower the cost of screening new customers. Costs savings and deposit accounts (current account, savings account / CASA) is predicted to decline due to the innovative bundling program. BSIM traded at price per earnings ratio (P/E) ratio of 9.6 x and the price ratio per price book (P/BV) 1.3 x.

for Indonesia Market Summaries 24 June 2013

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