BBRI Shares Remain Attractive to Collect, Here's What Analysts Say

Banking is one of the sectors targeted by investors, as it offers long-term profit opportunities. Listed banking companies, particularly large banks, have strong fundamentals, so when their share prices contract, investment opportunities open wide. At this moment, valuations of large banks are cheap again, making it the right time to collect shares. For example, shares of PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) have a price-to-book value (PBV) of 1.44 times, meaning BBRI shares are currently quite cheap. Senior Market Analyst at Mirae Asset Sekuritas Indonesia, Nafan Aji Gusta, in his research, stated that BBRI shares still have potential to rise to IDR 3,760 per share. This figure is about 22% higher than BBRI’s last position, at the close of trading on Friday (24/4), at IDR 3,070 per share. Nafan mentioned that BBRI is targeting more moderate credit growth of 7-9% for 2026, while maintaining a healthy net interest margin (NIM) of 7.4-7.8%. Additionally, the Ultra Micro Holding with Pegadaian and PNM enables BBRI to perform cross-selling of products and acquire new customers. “Liquidity and capitalisation remain healthy, with capital adequacy ratio (CAR) and adequate funding structure providing a buffer against credit and liquidity risks,” Nafan said in his research, quoted on Sunday (26/4/2026). On the other hand, according to him, investors should also pay attention to several things, such as prudent micro-credit disbursement, credit costs, and margins. Good Corporate Governance (GCG) is also one of the aspects to watch and becomes an added value for companies like BRI. “GCG is an added value for investors because it relates to compliance with OJK and transparency,” he said when contacted. Contacted separately, Head of Research at Korea Investment & Sekuritas Indonesia, Muhammad Wafi, said this is the right moment to collect BBRI shares. “In terms of timing, now is good for entry, but use a gradual buying strategy,” Wafi said when contacted by CNBC Indonesia. Technically, BBRI shares still show bearish signals with strong support at IDR 3,600 per share. Meanwhile, from a fundamental perspective, BBRI has a solid foundation with its strength in MSMEs, accounting for 45% of total credit. “This is what provides high NIM,” he said. From the dividend side, they are consistent and attractive. As known, BRI will distribute dividends of Rp 52.10 trillion or 92% of 2025 net profit. This amount is the largest in BRI’s history, both in nominal terms and as a percentage of the company’s net profit. “The challenges are in the trend of declining net profit, as well as aggressive provisioning strategies. Its digital transformation is expected to be visible only in the second half of 2026,” Wafi concluded.