Prank Again? Flying Morning, Afternoon Small Bank Shares Nearly ARB

Jakarta, CNBC Indonesia – The stock prices of mini-banks, aka BUKU II banks (banks with a core capital of IDR 1 trillion to IDR 5 trillion) turned into the red zone at the close of the second trading session Thursday (18/2/2020).

In fact, in the first session trading today, the shares of the mini banks jumped to almost 30%.

Here are how many mini-banks that were racing in today’s trading.


There were at least 8 mini bank stocks that reversed towards the red zone, and some even touched the Lower Auto Rejection (ARB) level at the close of trading session II today.

In the first and second positions there are shares of PT Bank Ganesha Tbk (BGTG) and PT Bank Artha Graha International Tbk (INPC) which both closed down 6.48% to the level of Rp 101 / unit today.

Trade data recorded that the transaction value of BGTG’s shares reached Rp 101.9 billion with a trading volume of 915.9 million shares. Foreign investors make net purchases (net buy) in the regular market amounting to IDR 353 million.

Meanwhile, the transaction value of INPC’s shares reached Rp 51.4 billion with a volume of traded transactions of 417 million shares. However, foreigners do net selling (net sell) in the regular market amounting to Rp. 15.26 million.

Meanwhile, the smallest weakening experienced by these mini-bank shares was the shares of PT Bank MNC International Tbk (BABP) which fell 1.49% to the position of IDR 66 / unit today.

The transaction value of BABP’s shares reached Rp. 92.3 billion with a volume of traded transactions of 1.2 billion shares. Foreigners also sold BABP shares through the regular market for Rp 9.06 billion.

The sentiment that made the share prices of these small banks skyrocket in today’s first trading session was the speculation of market players on banking consolidation where based on OJK Regulation (POJK) Number 12 / POJK.03 / 2020, banks are required to have a minimum core capital of commercial banks of Rp 2 trillion this year and a minimum of Rp 3 trillion next year.

So that banks with limited capital are forced to find strategic investors to increase their core capital.

However, after these rumors were denied from several parties of the mini bank company, the shares of these small banks immediately reversed direction and fell in the second trading session today.

For information, in 2017 a similar phenomenon occurred when PT Bank Ganesha Tbk (BGTG) and PT Bank Harda Indonesia Tbk (BBHI) were rumored to be annexed by PT Bank Central Asia Tbk (BBCA) to become a digital bank.

BGTG and BBHI shares immediately shot up, similar to the current incident, after the rumors were denied and it turned out that BBCA did not even choose the two banks and proposed to Bank Royal Indonesia.

As a result, the shares of BGTG and BBHI immediately dropped badly. BBHI, which had flown to the level of Rp. 356 / share, was forced to drop 72% badly when the rumors proved to be untrue.

Meanwhile, BGTG, which flew up to Rp. 214 per share, was forced to collapse, leaving a loss of up to 64% for those stuck at the ‘top’.

Even investors who bought BGTG at the top price are still ‘stuck’ and still can’t get out until now because the price has not returned to its highest level in 2017, after 3 years.

[Gambas:Video CNBC]

(chd / chd)


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