Bank Rakyat
Thesis
Bank Rakyat is an Indonesian bank specializing in micro lending, which allows it to achieve one of the highest returns on assets in the world. Its extensive network of small offices in remote locations creates a significant moat that is difficult for competitors to replicate, particularly for larger banks like Citibank.
Did it work?
inconclusive
confidence: low
The pitch is a long thesis on Bank Rakyat based on its micro-lending profitability and structural moat, but no price performance and no elapsed time are provided, and no information is available on whether the thesis's supporting dynamics (sustained high ROA, durable competitive position) have played out or been impaired. With neither return data nor thesis events to evaluate, no judgement on success or failure can be made.