4/11/2023. PT Bank Negara Indonesia (Persero) Tbk or BNI has recorded positive growth until the quarter of 2023. This is reflected in BNI's net profit which until September 2023 grew by 15.1% on an annual basis (YoY), reaching IDR 15.8 trillion, which is inline with market consensus.
This strong profit achievement was aided by improved credit performance. As of September 2023, the market was up 7.8% year on year to IDR 671.4 trillion, owing to growth in low-risk areas such as blue chip firms (both private and state-owned), consumer loans, and subsidiaries.
This undoubtedly increased shareholder confidence. It was evidenced by the 18% growth in BBNI's average daily trading volume or daily turnover in October 2023, which reached IDR 271 billion, compared to the same period last year, when the average daily turnover was Rp230 billion.
It is known that on October 27, 2023, BBNI was closed at a price of IDR 4,850 per share, bringing BBNI's market capitalization value to IDR 181 trillion.
Silvano Rumantir, Director of Wholesale & International Banking at BNI, stated that the company's share price has strengthened as a result of the favorable atmosphere surrounding the execution of a 1:2 stock split on October 6, 2023. The stock split business activity has proven effective in expanding the investor base.
“We are very appreciative to BNI shareholders and the public for the trust given to the strong fundamentals of the company's performance and the ongoing transformation process at BNI which increasingly provides a positive outlook for BNI's performance going forward,” he said.
According to Silvano, analysts agree that the fair value of BNI shares is in the range of IDR 5,900 per share, implying that BNI's share price would continue to rise in line with strong financial performance.
In his opinion, this is still within the achievable range because the company has a commitment to continue to print healthy and sustainable profitability.
“We want to continue to provide optimal value for all stakeholders, especially shareholders,” Silvano concluded.