บทวิเคราะห์ (Research)

BBL guided that it wants to better utilize capital as both BBL and Permata Bank in Indonesia have had high Tier I at 17% for BBL and 26% for Permata. The bank is considering the options of raising its dividend policy lift and share buyback. However, given the bank’s conservative stance, we expect a gradual step up in its dividend payments and assume dividend payouts of 35%/40% for FY24/FY25. BBL is considered to have a cheap valuation and we maintain a rating of Outperform with a 2025 target price of Bt185.