JAKARTA - PT Bank Tabungan Negara (BTN) posted net profit of 1.2 trillion in seven months to July, or up 26 percent year-on-year, representing 52 percent of market concensus projection. Mandiri Sekuritas maintains ‘buy’ recommendation of the bank’s shares with target price of Rp2,150. Currently, the bank’s shares are traded with price to book value (P/BV) 2016F at 1.3 times. (*)
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