Major Bank Stocks Rally Amid Cabinet Reshuffle Rumours

Banking stocks were observed to strengthen significantly during trading on Monday (14/09/2026), amidst rumours of a cabinet reshuffle within President Prabowo Subianto’s administration.

The gains were seen across several major bank stocks, including PT Bank Rakyat Indonesia (Persero) Tbk (BBRI), PT Bank Central Asia Tbk (BBCA), PT Bank Mandiri (Persero) Tbk (BMRI), PT Bank Negara Indonesia (Persero) Tbk (BBNI), PT Bank Tabungan Negara (Persero) Tbk (BBTN), and PT Bank Syariah Indonesia Tbk (BRIS).

As of 15:20 WIB today, BBRI shares stood at Rp3,340 per share, rising 70 points or 2.14% compared to the previous close. However, on a year-to-date (YTD) basis, BBRI shares have recorded a decline of 8.24%.

BBCA shares also rose by 7s5 points or 1.19% to the level of Rp6,400 per share. This strengthening follows a previous YTD correction of 20.25% for BBCA.

Meanwhile, BMRI shares increased by 30 points or 0.69% to Rp4,390 per share. Nevertheless, BMRI shares remain in a downward trend YTD with a correction of 13.50%.

BBTN shares were recorded to have risen by 20 points or 1.70% to the level of Rp1,195 per share. Unlike other major banks, BBTN has maintained a YTD increase of 3.02%.

Additionally, BRIS shares edged up by 5 points or 0.29% to Rp1,725 per share. Despite today’s gains, BRIS shares have recorded a YTD decline of 20.14%.

The surge in banking stocks coincided with the emergence of rumours regarding a cabinet reshuffle. President Prabowo Subianto is reported to be inaugurating several ministers and deputy ministers at the State Palace, Central Jakarta, on Monday evening (14/09/2026).

According to monitoring by CNBC Indonesia, several ministers and deputy ministers had already gathered at the State Palace, including the Coordinating Minister for Human Development and Cultural Affairs, Pratikno, and Deputy Finance Minister Suahasil Nazara.

President Prabowo Subianto inaugurated Suahasil Nazara as Finance Minister. Suahasil replaces Purbaya Yudhi Sadewa, who held the position for one year.

The inauguration took place at the State Palace on Monday (14/09/2026), with several ministers, deputy ministers, and other state officials in attendance.

Suahasil arrived at approximately 15:00 WIB, dressed in a black suit and accompanied by his wife.

Suahasil is not a new figure within the Ministry of Finance. He previously served as Deputy Finance Minister since the era of President Joko Widodo (Jokowi) and has continued to hold trust within the current administration.