This weekly newsletter chronicles top digital themes and trends playing out in SE Asia, especially Indonesia. We will decode policy and regulatory changes affecting digital economy sectors, crunch earnings data of top players, track developments related to gig economy workers and attempt to piece together ecosystem buildouts in some of the fastest-growing, venture-backed plays. You can access the previous editions of the Vantage Point weekly posts here.
- Sell-off in Indonesian banks after SVB crisis is unwarranted
- Harita Nickel a pure proxy for Indonesia’s EV theme
- Traveloka and sustainability go hand-in-hand
- Profitable Allo Bank can now command higher valuations
Sell-off in Indonesian banks after SVB crisis is unwarranted
Both in terms of their customer base and asset exposure, Indonesian banks could not be further away from Silicon Valley Bank (SVB), the startup-focussed American lender whose recent collapse sent ripples across the financial world.
Nevertheless, stocks of several Indonesian banks suffered a significant drop last week in the immediate aftermath of SVB’s implosion. Digital banks including Bank Jago, Bank Neo Commerce, and Allo Bank Indonesia, all witnessed sell-offs as they were grouped in the same basket as SVB, which is a tenuous connection.