Jakarta, CNBC Indonesia – The State-Owned Banks Association (Himbara) banking issuer with the first largest market capitalization, namely PT Bank Rakyat Indonesia (Persero) Tbk (BBRI), has been monitored tired of it on trading session I Friday (27/9/2024).
As of 11:30 WIB, BBRI shares rose 0.99% to a price of IDR 5,100/unit. In session I today, BBRI moved in the price range of IDR 5,000 – IDR 5,100 per unit.
SBBRI shares in the first session today were traded 33,408 times with a volume of 182.3 million shares and the transaction value reached IDR 922.78 trillion. The market capitalization currently reaches IDR 772.95 trillion.
Until 11:30 WIB, at The bid or purchase order, at a price of IDR 5,000/unit, was the largest purchase queue in session I today, reaching 356,159 lots or approximately IDR 178 billion.
At the same time, in an offer or sales order, at a price of IDR 5,200 / unit, it became the largest sales queue in session I today, reaching 134,021 lots or about IDR 69 billion.
BBRI shares tend to be upbeat while other big banking shares are weak. It is possible that large foreign investors will replace BBRI so that it does not suffer a serious correction.
know, Three large investors, namely BlackRock, Vanguard and JP Morgan, have different strategies in managing the BBRI share portfolio.
Based on data Bloomberg As of Friday, The Vanguard Group Inc., BlackRock Inc., and JPMorgan Chase & Co. are the institutional investors who occupy the top three positions on the BBRI shareholder list after the Indonesian government.
During the period from September 2024, the three of them were seen interfering with the ownership of BBRI shares. For example, Vanguard was registered as owning 2,981,915,512 BBRI shares at the end of August 2024. Currently, the amount they have has dropped slightly to 2,981,896,712.
A similar move was also taken by JPMorgan. The investment bank from the United States (US) is reducing its ownership of BBRI shares in the current period of September 2024. Bloomberg noted that the number of BBRI shares held by JPMorgan fell from 2,051,927,004 at the end of August 2024 to 2,049,509,104.
On the other hand, BlackRock increased its holdings in BBRI shares this month. The amount they have increased from 2,586,565,897 at the end of August 2024 to 2,604,396,383. The number of BBRI shares owned by Vanguard, BlackRock and JPMorgan is equal to ownership of 1.97%, 1.72% and 1.35% respectively.
Several analysts still expect BBRI shares to be positive. This is because BBRI itself will likely be in the spotlight after Bank Indonesia (BI) and the central bank of the United States (US) or the Federal Reserve (The Fed) decide to cut their benchmark interest rates. last week.
With BI and the Fed cutting their interest rates yesterday, the era of high interest rates is starting to come to an end. As a result, banking shares tend to benefit because with low interest rates, it could be followed by a reduction in credit interest rates.
If credit interest is lower, it will be easier for banks to distribute credit because people will be more interested in issuing credit.
On the other hand, till the end of August 2024, BBRI recorded a total net profit bank only IDR reached 36.21 trillion. This performance grew by 4% annually (year after year/yo).
This performance was supported by net interest income (net interest income/ NII) which grew 2.9% yoy to IDR 73.64 trillion in August 2024, compared to the same period last year which amounted to IDR 71.56 trillion.
On the other hand, BRI’s interest expense seems to be increasing, but it turns out that it has little effect on the company’s NII performance. This is because BRI interest expenses rose 45.99% to IDR 34.58 trillion in August 2024, compared to the same period in 2023 of IDR 23.68 trillion.
At the same time, the decline in the value of financial assets (deficiency) BRI is seen to increase by 44% to IDR 25.6 trillion as of August 2024, compared to August 2023 of IDR 17.77 trillion.
CNBC INDONESIA RESEARCH
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