Published:
Bank Tabungan Negara eyes 20% profit growth for 2017
A significant loan growth is expected to be one of the main drivers.
According to Maybank Kim Eng, 2017F is likely to be another strong year for Bank Tabungan Negara (BBTN). Management expects loans to grow by 22% YoY as demand from the mid to low housing segments remains high. And while NPLs are cyclically higher in 1H, there is room to push down the ratio to 2.5% by YE17 from 2.8% in 2016.
"These will be the main drivers for BBTN’s 20% YoY profit growth target for 2017F. The drivers are based on the key assumption there will be no significant changes in the subsidised mortgage scheme, which is currently under discussion with the government."
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