BNI (BBNI) Plans Rp 905.48 Billion Share Buyback

Jakarta, CNBC Indonesia — PT Bank Negara Indonesia (Persero) Tbk. (BBNI) plans to conduct a share buyback and a plan to divest the shares arising from the buyback. According to information disclosed, the buyback transaction is estimated to be as high as Rp 905.48 billion. The buyback transaction will not exceed 10% of the issued capital of BBNI, and will be funded from free cash flow in the form of retained earnings not yet allocated. The transaction value includes buyback-related costs, including transaction costs, custody fees, and a commitment fee of about 0.32% of the buyback execution value. BNI management explained the considerations behind this action are driven by several factors. There has been pressure on Indonesian banking stocks throughout 2025, mainly driven by global uncertainty due to geopolitical risks and tariff wars, while domestically the domestic banking sector faces liquidity challenges and slower loan demand. As a result, Indonesian banking stocks have faced more pressure than regional peers. As of 31 December 2025, BNI’s share price had risen only 0.5% year-on-year. “Although better than local peers, BNI shares still lag behind regional bank peers,” said BBNI management in the information disclosure cited on Wednesday (4 March 2026). In the face of uncertainty stemming from global sentiment, management stated that BNI’s performance forecast remains positive with a resilient fundamental, where BNI’s capital adequacy remains strong, asset quality is maintained, loan growth is balanced across all segments, and growth in cheap funding is solid, supported by digital transformation and a network. Nevertheless, the escalation of geopolitical conflict and continuing tariff battles could potentially create inflationary pressures from exchange rates and could weigh on the IHSG, including national banks. “The buyback is intended to help reduce selling pressure in the market while the stock index fluctuates, and to signal to investors that the company believes the current share price does not reflect the company’s fundamentals,” BNI management explained. The implementation of the buyback using free cash flow will impact assets and equity. Regarding the transaction, the impact on BNI’s operating costs is not material, so profit and loss is expected to stay in line with targets. To obtain approval for this corporate action, BNI will hold a General Meeting of Shareholders (RUPS) on 9 March 2026. Subsequently, the buyback period is expected to commence on 9 March 2026 and run until 8 March 2027. Once the buyback is completed, the results will be redirected by sale either on BEI or off-BEI, and/or the implementation of a share ownership programme for employees and/or management of BNI. Share transfers may only be conducted within 30 days after the buyback has been fully completed.