Mini Bank Stocks Are Wild Again, Salim & CT’s Bank Is Angry!

Jakarta,CNBC Indonesia – The stock prices of mini-banks aka BUKU II banks (banks with core capital of IDR 2 trillion – IDR 5 trillion) again moved wildly in today’s trading Thursday (24/6/2020).

Previously, small bank shares had strengthened, driven by the sentiment that the Financial Services Authority Regulation (POJK) regarding digital banks would soon be released in the middle of this year.

“Currently OJK is in the process of drafting the POJK for Commercial Banks that accommodates the formation of digital banks, whether they are digital by analogue banks or conventional banks that provide digital services, or entities born as digital banks (full digital banks). The RPOJK for Commercial Banks is expected to be published in mid-2021,” explained OJK Spokesperson, Sekar Putih Djarot, on one occasion.

In addition, several mini-banks also shot up after the company agreed to a rights issue or issuance of new shares with Pre-emptive Rights (HMETD).

The following is the movement of mini bank stocks in today’s trading.

Today’s increase was led by a bank that was recently acquired by entrepreneur Chairul Tanjung, namely PT Bank Harda Internasional Tbk (BBHI) or Allo Bank Indonesia, which shot up 11.92% to a price level of Rp 2,910/unit.

BBHI’s shares soared after the company was ready to carry out a rights issue next July to raise funds so that BBHI’s core capital reached Rp 1 trillion this year.

Furthermore, the bank controlled by Indofood boss Anthony Salim PT Bank Ina Perdana Tbk (BINA) also shot up 4.67% to a price level of Rp 5,150/unit.

BINA shares shot up after the approval of a rights issue corporate action in the near future where Anthony Salim has the opportunity to increase his share of ownership in BINA.

Furthermore, in the second and fourth positions were PT Bank Amar Indonesia Tbk (AMAR) and PT Bank Victoria Internasional Tbk (BVIC) which appreciated moderately at 4.80% and 1.92%, respectively.

While the most severe corrections were recorded by PT Bank Ganesha Tbk (BGTG) and PT Bank IBK Indonesia Tbk (AGRS) which each fell 1.52% and AGRS which was affected by ARB aka a maximum daily decline of 6.43%.

CNBC INDONESIA RESEARCH TEAM

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