JAKARTA – The buyback plan has become a positive sentiment for BBRI shares. The shares of PT Bank Rakyat Indonesia (Persero) Tbk were able to reach their highest level.
Issuer analyst from the Indonesian Securities Analyst Association, Reza Priyambada, assessed that BRI's ability to maintain good performance during the COVID-19 pandemic encouraged positive sentiment in the market to appreciate BBRI shares.
"For the target price, by looking at the potential possessed by BBRI, it should be able to reach Rp. 5,500 per share," he said in a written statement on Tuesday, February 15.
Reza added, entering February 2022, BBRI shares continued to strengthen and even touched the level of Rp4,550 which was the highest level on Tuesday's trading last week. Meanwhile, at the close of trading today, BBRI's shares were perched at the level of Rp4,430 per share.
"BBRI prices are currently still below their fundamentals. We see that in the future the company will be able to control its fundamental performance again," he said.
In terms of performance, the bank specializing in low-income loans was able to record a net profit of Rp. 32.22 trillion throughout 2021. The score rose 75.53 percent year-on-year (yoy).
It is known that the company's credit on a bank only basis also grew 7.16 percent compared to the previous year. This percentage was recorded above the growth of the national banking industry which was 5.24 percent.
Then, BRI also managed to maintain the quality of loans disbursed with non-performing loans (NPL) or non-performing loans at the level of 3.08 percent. Meanwhile, for DPK, BRI managed to collect Rp1,127.8 trillion, growing around 7.1 percent yoy.
"BRI's performance in the future will continue to improve. In a pandemic condition, BBRI can record a fairly good performance by posting growth, especially if conditions are much better," said Reza.
Meanwhile, the plan to buy back shares of IDR 3 trillion is planned to be carried out in the period from March 1 to August 31.
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