Strong Fundamentals Projected to Drive BBCA Shares Recovery After Deep Correction

JAKARTA - Analysts project that shares of PT Bank Central Asia Tbk (BCA) have the potential to strengthen again after a fairly deep correction since the beginning of 2026. The issuer with the code BBCA is assessed to have strong fundamentals, particularly from its sustainably growing financial performance. Throughout 2025, BCA recorded a net profit of Rp57.5 trillion, up 4.9% from the same period in the previous year at Rp54.8 trillion. On the other hand, BBCA shares have weakened by around 19% from the start of the year until 7 April 2026. This weakening aligns with the movement of the Composite Stock Price Index, which fell 15.79% year to date (YTD). Although the share price has corrected, BBCA’s performance is still considered superior. The 2025 net profit even surpassed the total market capitalisation of several mid-tier banks on the exchange. The bank is also supported by strong low-cost funds (CASA), operational efficiency, and a loyal customer base. In such conditions, BBCA shares are seen as experiencing a rare price anomaly. While the company’s profits continue to set records, the share price has instead dropped to around Rp6,500 per share, below the psychological level of Rp7,000. Capital market observer Rendy Yefta views this situation as an opportunity for investors to enter. According to him, the phenomenon has the potential to become a “time bomb” for capital gains when market sentiment turns positive. He explained that historically, the market has given a premium valuation to BBCA, with a normal price-to-book value (PBV) ratio in the range of 4 to 5 times. However, pressure from global panic and sector rotation has caused the shares to correct sharply. “This is a very rare undervalued phenomenon for a share of the highest caste (super blue chip). Picking up BBCA at a price below Rp7,000 is like picking up a Mercedes at a Toyota Avanza showroom price,” he said in his statement. Rendy estimates that when market conditions stabilise again, BBCA share prices could rise quickly towards normalisation at a PBV level of around 4 times, with significant capital gain opportunities for investors who enter early. According to him, when the official financial reports are released and positive sentiment is reformed, institutional investors could enter aggressively. This could drive the share price up more quickly. “Wise people collect gold when its price is falling into the mud, not when everyone is queuing to buy it at the shop,” he said. Furthermore, he assesses that investment in BBCA is not just for the short term, but also as ownership of high-quality assets. With consistent performance and potential for sustainable dividends, these shares are still considered attractive in the long term.