• BBNI plans to buyback shares worth IDR 905B
Bank Negara Indonesia (BBNI) plans to carry out a share buyback of 10% of the total paid-in
capital, with a value of up to IDR 905B. This plan will be submitted for approval at EGMS on
13 Mar 25. The buyback will be implemented within a maximum period of 12 months after
receiving approval using internal company funds. The consideration for carrying out the
buyback is that throughout the first 10 years of 2024, BBNI’s share performance shows
positive growth yoy in line with BNI’s fundamental performance which continues to improve.
However, entering the end of 2024, especially the negative sentiment following the election
results in America on Nov 24, is putting pressure on IHSG. In turn, BBNI shares also weakened
21.7% yoy, closing at IDR 4,130 on 14 Jan 25 due to investors’ concerns regarding geopolitical
instability and Indonesia’s macroeconomic conditions regarding liquidity conditions and
weakening exchange rates. This corporate action aims to reduce selling pressure in the
market when IHSG fluctuates, as well as show investors that the company believes that the
current share price does not reflect the company’s actual fundamentals. The shares resulting
from the buyback will later be allocated to a share ownership program for employees,
directors, and commissioners, with a maximum transfer period of three years after the
buyback is completed. (Emiten News)
• BMRI recorded IDR 55.78T net profit in 2024
Bank Mandiri (BMRI) reported a net profit of IDR 55.78T in 2024 (+1.31% yoy). This growth was
primarily driven by net interest income, which rose to IDR 101.75T from IDR 95.88T in 2023.
However, the increase in net interest income was moderated by a significant rise in interest
expenses, which surged by 35% yoy to IDR 49.48T in 2024. Consequently, the bank’s Net
Interest Margin (NIM) decreased by 33 bps to 5.15% during the year. Additionally, non-interest
income grew by 4.12% yoy, reaching IDR 42.32T. The bank’s total assets expanded by 11.6%,
amounting to IDR 2,427T. (Kontan)
• EXCL posted IDR 1.81T net profit in 2024
XL Axiata (EXCL) reported a net profit of IDR 1.81T in 2024 (+44.72% yoy). This was in line with
revenue, which rose by 6.4% yoy to IDR 34.39T. Revenue was primarily driven by data and
digital services, which contributed IDR 31.57T, followed by interconnection and other
telecommunication services at IDR 1.13T and voice and SMS services at IDR 898.6B. Despite a
3.74% yoy increase in expenses to IDR 28.6T, EXCL’s net profit for the year still saw significant
growth. (Bisnis Indonesia)
