BBRI has released its bank-only May-26 results, reporting headline profit of IDR4.5tn (+12% m-m; +24% y-y), bringing YTD May-26 earnings to IDR20.4tn (+10% y-y) — equivalent to ~35% of our FY26F projection and broadly in line with our current consolidated earnings forecast. Nevertheless, the primary area of concern remains the NIM trajectory. April NIM declined meaningfully from ~6.2% in 1Q26 to 5.6%, marking a multi-quarter low and suggesting potential downside risk to our FY26F NIM assumption should the t ...