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Jakarta, CNBC Indonesia – Share prices a subsidiary of PT Bank Rakyat Indonesia (Persero) Tbk (BBRI), namely PT Bank BRISyariah Tbk (BRIS), shot 24.89% to the level of Rs 1,405 / share, thus hitting the upper limit of automatic rejection (ARA) with a maximum daily increase of 25%.
Indonesian Stock Exchange (IDX) trading data recorded that at 09.17 WIB, BRIS shares were trading for Rs 314.35 billion and a trading volume of 227.23 million shares.
This level of ARA was repeated after last Tuesday also touched the upper limit of a maximum increase of 25% in the position of 1,125 IDR / share.
During the last 5 trading days accumulated since last week, BRIS shares rose 65.29%, the last month they rose 61% and the last 3 months they rose 221%.
Even in the last 6 months, BRIS shares soared 617% with a market capitalization of IDR 13.65 trillion.
One of the BRIS share price sentiments was the SOE Ministry’s decision to finally announce the merger process of the three state-owned sharia banks, namely PT Bank Syariah Mandiri (BSM), BRIS and PT Bank BNI Syariah.
In this merger, Bank BRISyariah was determined to be a surviving bank or entity that received the merger (surviving entity) of the merger of three BUMN sharia banks.
The plan to merge this BUMN sharia bank was actually released to the public by BUMN Minister Erick Thohir 3 months ago. This plan is expected to be completed in February 2021.
Bahana Sekuritas analyst Muhammad Wafi assessed that this momentum will be a positive catalyst for the future of BRIS, especially with the additional assets of two other state-owned sharia banks.
“Actually, with BRIS, surviving will be easier because it has an open state. If BRIS is lost it will be difficult to process because it requires the approval of public shareholders and others,” he said at the closing of Bell CNBC Indonesia TV, with Erwin Surya Brata, on Tuesday (10/13/2020).
He said that by becoming a merger-receiving bank, BRIS would gain a large amount of assets and this would be a potential for BRIS in the future.
“[Merger] This is very positive in terms of assets, it can be said that BRIS assets are not the largest but they will receive significant assets. On the other hand, in terms of product maturity, it can be said that the products of Islamic banks are more resistant to crises and will benefit more during the low interest rate trend. This has made the Islamic banking industry attractive in the last 2 years. “
For the record, the largest asset is still owned by BSM, which amounted to Rs 114.4 trillion in June 2020, 13.26% more than in the same period last year.
This was followed by BNI Syariah with assets of Rs 50.78 trillion or a 17.8% increase, then BRISyariah to increase 34.7% YoY to Rs 49.6 trillion, and the assets of the Sharia Business Unit (UUS) of PT Bank Tabungan Negara Tbk (BBTN) Rp. 31.09 trillion or up to 6.5% year-on-year. The total assets of the four can reach IDR 245.87 trillion.
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