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ILLUSTRATION. Of the six bank stocks that entered LQ45, only BBCA shares have risen since the beginning of the year.
Reporter: Akhmad Suryahadi | Editor: Wahyu T. Rahmawati
KONTAN.CO.ID – JAKARTA. The share prices of the bank issuers that inhabit the LQ45 index continue to show an unsatisfactory performance. Of the six bank issuers included in the most liquid index, only the shares of PT Bank Central Asia Tbk (BBCA) Return positive since the beginning of the year, that is, 1.42%.
Bank actions big four Others, namely PT Bank Rakyat Indonesia Tbk (BBRI), PT Bank Mandiri Tbk (BMRI) and PT Bank Negara Indonesia Tbk (BBNI), still posted negative returns, respectively 3.41%, 14.98% and 17.83% from the beginning of year. Meanwhile, shares of PT Bank Tabungan Negara Tbk (BBTN) and Bank BTPN Syariah Tbk (BTPS) corrected by 14.15% and 9.18%, respectively.
Crucially, Pilarmas Investindo Sekuritas analyst Okie Setya Ardiastama sees an increase in non-performing loans or does not make loans (NPL) still has the potential to happen. This is in line with the loan restructuring extended through 2022.
Okie sees that the potential for Commercial Banking Business (BUKU) IV performance this year will not be as good as last year. “This is in line with the potential to slow down Net interest margin (NIM) as a result of the decrease Net interest income (NII) “Okie told Kontan.co.id on Monday (12/28).
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As a result, this year’s trading conditions have enabled BUKU IV’s bank issuers to distribute lower dividends than last year. Just so you know, bank issuers big four namely, BBCA, BBRI, BBNI and BMRI are included in the High Dividend 20 index, which has residents eager to distribute dividends to shareholders.
Although the bank’s book IV share price is currently still red, Okie believes the price of these shares will improve next year as the economy improves. In terms of valuation, BBNI and BMRI shares are currently trading cheaper than the industry average.
The economic recovery can certainly be a hope for better real sector business performance, so the NPL trend may tilt and is expected to improve in the second quarter of 2021. For bank stocks in the LQ45 index, Okie recommends buy BBCA shares with a target price of IDR 35,600, buy BBRI shares with a target of 4,740 IDR, buy BMRI with a target of 7,850 IDR, buy BBNI with a target of 7,900 IDR and buy BBTN with a target of 2,060 IDR.
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