We visited Panin Bank yesterday with the following highlights:
The bank expects loans to grow by 30.0%yoy this year to Rp56tn,mainly
supported by commercial and consumer segment.
The bank estimated a gain of Rp300bn from the selling of its 14%
ownership in ANZ Panin Bank to ANZ Banking Group Limited.This
transaction is currently awaiting for BI ’s approval,hence no certainty yet
when the gain will be booked.
There is no further news on the possible acquisition of Panin Bank by other
parties.
At current price,Panin Bank is trading at 2011F P/BV of 2.3x and PER of
19.3x.We maintained our sell recommendation on the counter.
Tidak ada komentar:
Posting Komentar