Credit Suisse Cut Bank Rakyat Indonesia to IDR 5,900/Share

PT Bank Rakyat Indonesia (BBRI IJ), the second-biggest bank by assets, dropped 4.9 percent to 4,850 rupiah. 

Bank Rakyat was lowered to “neutral” from “outperform” by Credit Suisse Group AG, which cited the bank’s high loan-to-deposit ratio relative to its peers and the “limited potential” to benefit from any increases in interest rates. 

The brokerage cut its share-price estimate to 5,900 rupiah from 6,750 rupiah, according to a report by Teddy Oetomo.