Equity Analysis /
Indonesia

ID : Banks - More digital banks in the market

    Yulinda HARTANTO
    CGS-CIMB
    29 March 2022
    Published by

    Four more digital banks just released their apps, i.e. Bank Aladin (BANK IJ), Bank Raya (AGRO IJ), Bank Amar (AMAR IJ), and Allo Bank (BBHI IJ). Bank Amar offers the most aggressive savings at 7% and deposit rates of up to 9%. These are even higher than BBYB’s rates of up to 8%. Among the four new apps, AMAR, BBHI and AGRO offer direct digital loans.