Ahead Of The 2024 General Election, The Average Volume Of BRIS Trading Increases Significantly

Illustration of Rupiah (photo: dock. Antara)

JAKARTA PT Bank Syariah Indonesia Tbk (BRIS) or BSI recorded an increase in the average volume of trade on the Indonesia Stock Exchange (IDX) to 56.28 million shares in 2024 compared to 2023 31.49 million shares.

BSI Group Head Investor Relations Rizky Budinanda said from transaction data, there was a significant increase in BRIS' stock trading volume between 2023 and 2024. In 2023, the average volume of BRIS's share transactions was 31.49 million shares with a nominal value of IDR 51 billion.

"In 2024 (average) the volume of BRIS's share transactions will increase to 56.29 million shares with an average transaction value of IDR 115.93 billion," he said in his official statement, Tuesday, February 13.

Rizky even said that the bank's share price, which has been the locomotive of the national sharia economy since February 2021, touched a new high on Monday, February 12 trading at the level of IDR 2,370. The nominal rose 0.42 percent from the close of stock exchange trading on the previous day at the level of IDR 2,360.

Meanwhile, throughout Monday, February 12, BRIS shares were traded in the range of IDR 2,330-IDR 2,400 per share. At this price level, RTI Business data shows foreign investors making net buys of IDR 18.16 billion. Because of this, BRIS' market cap has increased to IDR 109.33 trillion.

The rise in trading volume indicates that investor interest has continued to increase, which has been seen since late 2023. Investors targeting BRIS shares are classified as long term investors with the composition of institutional investors currently reaching 76 percent," Rizky continued.

With this achievement, BSI is one of the issuers that experienced the highest stock growth over the past month including in the LQ45 index. RTI data showed that for one month BRIS shares rose 20.30 percent, while year to date (YTD) rose 36.21 percent.

Meanwhile, BSI published a financial report on February 1, 2023 with very positive fundamental performance achievements. Rizky admitted that this had an impact on increasing investor confidence.

BRIS recorded a net profit of IDR 5.7 trillion throughout 2023 or grew to 33.8 percent compared to the 2022 achievement. BSI's total assets reached IDR 353.62 trillion, an increase of 15.67 percent on an annual basis or year on year (yoy).

Meanwhile, Third Party Funds (DPK) reached Rp293.78 trillion, grew 12.35 percent (yoy). Meanwhile, the amount of financing of Rp240.32 trillion grew 15.7 percent (yoy).

Rizky said the increase in BSI shares was in line with the consensus of the majority of capital market analysts. Where the shares of large banks in the country are expected to have positive prospects in 2024, even though the economy is faced with uncertainty.

Quoted from Bloomberg, four bank shares, which are the Big Four, broke the record for the highest price of almost all time on Monday, February 12, 2024 trading. Three of the four banks are state-owned banks, as well as the parent of BSI, namely PT Bank Mandiri Tbk (BMRI), PT Bank Rakyat Indonesia Tbk (BBRI), and also PT Bank Negara Indonesia Tbk (BBNI).

Based on data from the Indonesia Stock Exchange (IDX), BMRI scored the highest closing price at the level of IDR 7,100 per share, an increase of 2.16 percent. BBRI in the trading session closed up 2.99 percent to the level of IDR 6,025 per share and became an all time high. BBNI closed at the price level of IDR 5,950 per share, the highest since September 9, 1997.