Bisnis.comJAKARTA — Banking issuers starting from PT Mandiri Bank (Persero) Tbk. (BMRI) and PT Bank Central Asia Tbk. (BBCA), to PT Bank CIMB Niaga Tbk. (BNGA) simultaneously recorded a decline in share price performance in trading after the holiday EidTuesday (16/4/2024).
Based on RTI Business data, BMRI’s share price fell 2.93%, closing at IDR 6,625 in today’s trading, Tuesday (16/4/2024). BBCA’s share price also fell 3.56% to IDR 9,475.
Then, PT Bank Rakyat Indonesia (Persero) Tbk. (BBRI) recorded a 5.31% decline in share prices to IDR 5,350. PT Bank Negara Indonesia (Persero) Tbk. (BBNI) recorded a 1.89% decline in share price to IDR 5,200.
Apart from these jumbo banks, a number of second class bank issuers such as PT Bank CIMB Niaga Tbk. (BNGA) recorded a 3.81% decline in share price to IDR 2,020.
PT Bank Syariah Indonesia Tbk share price. (BRIS) also fell 5.56% to IDR 2,550. Then, the share price of bPT Bank Tabungan Negara (Persero) Tbk. (BBTN) fell 6.67% to IDR 1,400.
The decline in share prices of banking issuers occurred amidst a weakening trend in the rupiah. Quoting Bloomberg data at 15.00 WIB, rupiah closed down 2.07% to IDR 16,175.5 per US dollar. The US dollar index strengthened 0.08% to 106.29.
The Rupiah has indeed recorded a weakening trend since the beginning of this year. It was recorded that in trading at the beginning of the year, as of January 2 2024, the rupiah was still at the level of IDR 15,390.
Senior Vice President of the Indonesian Banking Development Institute (LPPI) Trioksa Siahaan said the weakening of the rupiah exchange rate had indeed given negative sentiment to banks. It is feared that the weakening of the rupiah exchange rate will encourage this inflationan increase in interest rates, and an increase in bank non-performing loans (NPL).
“Banks with a large portfolio of productive and long-term loans such as corporate loans and mortgages will feel the impact,” said Trioksa to Bisnis on Tuesday (16/4/2024).
Binaartha Sekuritas analyst Ivan Rosanova in his research explained a number of things issuer Banking is also projected to continue to record weakness in the future. BBNI, for example, could weaken to the level of IDR 5,050 to IDR 5,150, from the current price of IDR 5,200.
“BBRI is also expected to continue the downtrend phase,” Ivan wrote in his research on Tuesday (16/4/2024).
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