Bank Danamon (BUY): Indicate 3Q09 result
Bank Danamon indicated that 3Q09 NIM will be higher than 2Q09 level of 11.5%, with CIR remains below the 50% level.
According to the bank Net profit as of August stood at Rp1.2-1.3t level.
The full 3Q09 financial figure will be released in October 20th 2009
Comment:
The expected NIM is slightly higher than our FY09 forecast, of 11.5%.
But the net profit indication is inline with our estimate.
We recommend BUY for Danamon with TP at Rp5,660/share
Tidak ada komentar:
Posting Komentar