Buy Or Sell Opportunity • Jun 08
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 24% to Rp1,120. The fair value is estimated to be Rp1,432, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.9% over the last 3 years. Earnings per share has grown by 12%. Reported Earnings • May 05
First quarter 2026 earnings released: EPS: Rp59.27 (vs Rp56.27 in 1Q 2025) First quarter 2026 results: EPS: Rp59.27 (up from Rp56.27 in 1Q 2025). Revenue: Rp3.16t (down 3.6% from 1Q 2025). Net income: Rp1.36t (up 5.3% from 1Q 2025). Profit margin: 43% (up from 39% in 1Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 12% per year and the company’s share price has also increased by 12% per year. New Risk • May 04
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 3.4% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Declared Dividend • Apr 12
Dividend reduced to Rp45.00 Dividend of Rp45.00 is 58% lower than last year. Ex-date: 20th April 2026 Payment date: 4th May 2026 Dividend yield will be 3.3%, which is lower than the industry average of 3.6%. Sustainability & Growth The dividend has increased by an average of 48% per year over the past 4 years and payments have been stable during that time. Earnings per share has grown by 19% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. 공시 • Apr 12
PT Bank OCBC NISP Tbk announces Annual dividend, payable on May 04, 2026 PT Bank OCBC NISP Tbk announced Annual dividend of IDR 45.0000 per share payable on May 04, 2026, ex-date on April 20, 2026 and record date on April 21, 2026. 공시 • Feb 25
PT Bank OCBC NISP Tbk, Annual General Meeting, Apr 09, 2026 PT Bank OCBC NISP Tbk, Annual General Meeting, Apr 09, 2026. Reported Earnings • Feb 02
Full year 2025 earnings released: EPS: Rp220 (vs Rp212 in FY 2024) Full year 2025 results: EPS: Rp220 (up from Rp212 in FY 2024). Revenue: Rp13t (up 2.1% from FY 2024). Net income: Rp5.06t (up 3.9% from FY 2024). Profit margin: 39% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 04
Third quarter 2025 earnings released: EPS: Rp54.84 (vs Rp62.20 in 3Q 2024) Third quarter 2025 results: EPS: Rp54.84 (down from Rp62.20 in 3Q 2024). Revenue: Rp3.28t (up 5.5% from 3Q 2024). Net income: Rp1.26t (down 12% from 3Q 2024). Profit margin: 38% (down from 46% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Banks industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Oct 24
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 10 highly experienced directors. No independent directors (8 non-independent directors). Independent Commissioner Jusuf Halim was the last independent director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. 공시 • Aug 07
VINTAGE PLANTATIONS SDN. BHD and United Malacca Berhad (KLSE:UMCCA) completed the acquisition of minority stake in International Natural Resources Pte. Ltd and PT Lifere Agro Kapuas from PT Bank OCBC NISP Tbk (IDX:NISP). VINTAGE PLANTATIONS SDN. BHD and United Malacca Berhad (KLSE:UMCCA) entered into a share purchase agreement to acquire unknown minority stake in International Natural Resources Pte. Ltd and PT Lifere Agro Kapuas from PT Bank OCBC NISP Tbk (IDX:NISP) for approximately MYR 42.2 million on July 29, 2025. VINTAGE PLANTATIONS SDN. BHD will acquire 5.9 % stake in PT Lifere Agro Kapuas and United Malacca Berhad will acquire acquire remaining 11.80% stake in International Natural Resources Pte. Ltd from PT Bank OCBC NISP Tbk. The breakdown of the Purchase Consideration for the Sale Shares are as follows INR Shares: MYR 35.57 million, LAK Shares MYR 67.46 million. UMB shall purchase the INR Shares and Vintage shall purchase the LAK Shares. Upon completion of the Proposed Transaction, UMB shall hold 100% of the total shares in INR and Vintage shall hold 5.9% direct shareholding in LAK. United Malacca Berhad currently directly holds 88.2% of INR’s share capital. INR holds 94.1% of LAK’s share capital. Upon the completion of the Proposed Transaction, United Malacca Berhad shall have 100% effective control of INR and LAK. INR and LAK shall become wholly owned subsidiaries of United Malacca Berhad. The Company shall pay the Purchase Consideration from the Company’s internal funds. Upon completion of the Proposed Transaction, UMB shall have 100% effective control of LAK vide its wholly owned subsidiaries, namely INR holding 94.1% and Vintage holding 5.9% in the equity interest of LAK respectively. The Proposed Transaction is expected to be completed by the third quarter of 2025.
VINTAGE PLANTATIONS SDN. BHD and United Malacca Berhad (KLSE:UMCCA) completed the acquisition of minority stake in International Natural Resources Pte. Ltd and PT Lifere Agro Kapuas from PT Bank OCBC NISP Tbk (IDX:NISP) on July 29, 2025. 공시 • Mar 23
PT Bank OCBC NISP Tbk announces Annual dividend, payable on April 17, 2025 PT Bank OCBC NISP Tbk announced Annual dividend of IDR 106.0000 per share payable on April 17, 2025, ex-date on April 09, 2025 and record date on April 10, 2025. 공시 • Feb 13
PT Bank OCBC NISP Tbk, Annual General Meeting, Mar 20, 2025 PT Bank OCBC NISP Tbk, Annual General Meeting, Mar 20, 2025. Location: jakarta Indonesia Reported Earnings • Nov 02
Third quarter 2024 earnings released: EPS: Rp62.20 (vs Rp43.07 in 3Q 2023) Third quarter 2024 results: EPS: Rp62.20 (up from Rp43.07 in 3Q 2023). Revenue: Rp3.11t (up 16% from 3Q 2023). Net income: Rp1.43t (up 44% from 3Q 2023). Profit margin: 46% (up from 37% in 3Q 2023). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 25% per year. Reported Earnings • Aug 03
Second quarter 2024 earnings released: EPS: Rp53.34 (vs Rp45.13 in 2Q 2023) Second quarter 2024 results: EPS: Rp53.34 (up from Rp45.13 in 2Q 2023). Revenue: Rp3.00t (up 17% from 2Q 2023). Net income: Rp1.22t (up 18% from 2Q 2023). Profit margin: 41% (in line with 2Q 2023). Over the last 3 years on average, earnings per share has increased by 25% per year whereas the company’s share price has increased by 23% per year. Reported Earnings • May 19
First quarter 2024 earnings released: EPS: Rp50.86 (vs Rp44.88 in 1Q 2023) First quarter 2024 results: EPS: Rp50.86 (up from Rp44.88 in 1Q 2023). Revenue: Rp3.27t (up 27% from 1Q 2023). Net income: Rp1.17t (up 13% from 1Q 2023). Profit margin: 36% (down from 40% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. 공시 • May 03
PT Bank OCBC NISP Tbk (IDX:NISP) completed the acquisition of 99% stake in PT Bank Commonwealth from Commonwealth Bank of Australia (ASX:CBA). PT Bank OCBC NISP Tbk (IDX:NISP) entered into a binding agreement to acquire 99% stake in PT Bank Commonwealth from Commonwealth Bank of Australia (ASX:CBA) for approximately AUD 220 million on November 16, 2023. Transaction is subject to regulatory approval from the Indonesia Financial Services Authority and the Monetary Authority of Singapore. The completion of the Transaction is currently expected to occur in the third quarter of 2024. Morgan Stanley (NYSE:MS) acted as financial advisor to Commonwealth Bank of Australia (ASX:CBA). Amelia Morgan of Herbert Smith Freehills and Vik Tang, Abimata Putra of Hiswara Bunjamin & Tandjung acted as legal advisor to Commonwealth Bank of Australia (ASX:CBA) & PT Bank Commonwealth. Allen & Gledhill and Assegaf Hamzah & Partners acted as legal advisor to PT Bank OCBC NISP Tbk (IDX:NISP).
PT Bank OCBC NISP Tbk (IDX:NISP) completed the acquisition of 99% stake in PT Bank Commonwealth from Commonwealth Bank of Australia (ASX:CBA) on May 1, 2024. Reported Earnings • Feb 01
Full year 2023 earnings released: EPS: Rp178 (vs Rp145 in FY 2022) Full year 2023 results: EPS: Rp178 (up from Rp145 in FY 2022). Revenue: Rp10t (up 14% from FY 2022). Net income: Rp4.09t (up 23% from FY 2022). Profit margin: 39% (up from 36% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. 공시 • Nov 17
PT Bank OCBC NISP Tbk (IDX:NISP) entered into a binding agreement to acquire 99% stake in PT Bank Commonwealth from Commonwealth Bank of Australia (ASX:CBA) for AUD 220 million. PT Bank OCBC NISP Tbk (IDX:NISP) entered into a binding agreement to acquire 99% stake in PT Bank Commonwealth from Commonwealth Bank of Australia (ASX:CBA) for AUD 220 million on November 16, 2023. Transaction is subject to regulatory approval from the Indonesia Financial Services Authority and the Monetary Authority of Singapore. The completion of the Transaction is currently expected to occur in the second or third quarter of 2024. Reported Earnings • May 05
First quarter 2023 earnings released: EPS: Rp44.88 (vs Rp27.07 in 1Q 2022) First quarter 2023 results: EPS: Rp44.88 (up from Rp27.07 in 1Q 2022). Revenue: Rp2.57t (up 32% from 1Q 2022). Net income: Rp1.03t (up 66% from 1Q 2022). Profit margin: 40% (up from 32% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 10% per year and the company’s share price has also increased by 10% per year. Upcoming Dividend • Apr 20
Upcoming dividend of Rp58.00 per share at 2.6% yield Eligible shareholders must have bought the stock before 27 April 2023. Payment date: 12 May 2023. Payout ratio is a comfortable 17% but the company is not cash flow positive. Trailing yield: 2.6%. Lower than top quartile of Indonesian dividend payers (5.3%). Lower than average of industry peers (3.8%). Reported Earnings • Feb 05
Full year 2022 earnings released: EPS: Rp145 (vs Rp110 in FY 2021) Full year 2022 results: EPS: Rp145 (up from Rp110 in FY 2021). Revenue: Rp9.16t (up 23% from FY 2021). Net income: Rp3.33t (up 32% from FY 2021). Profit margin: 36% (up from 34% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 2% per year. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 9 non-independent directors. Head of Corporate Legal Division, Compliance Director & Director Lili Budiana was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 9 non-independent directors. Head of Corporate Legal Division, Compliance Director & Director Lili Budiana was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 02
Full year 2021 earnings: EPS misses analyst expectations Full year 2021 results: EPS: Rp110 (up from Rp91.60 in FY 2020). Revenue: Rp7.42t (up 11% from FY 2020). Net income: Rp2.52t (up 20% from FY 2020). Profit margin: 34% (up from 31% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 16%. Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 11% per year. Reported Earnings • Nov 04
Third quarter 2021 earnings released: EPS Rp24.49 (vs Rp16.72 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: Rp1.79t (up 26% from 3Q 2020). Net income: Rp562.0b (up 47% from 3Q 2020). Profit margin: 31% (up from 27% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 6% per year. Reported Earnings • Aug 05
Second quarter 2021 earnings released The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: Rp2.39t (up 28% from 2Q 2020). Net income: Rp958.4b (up 24% from 2Q 2020). Profit margin: 40% (down from 41% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 5% per year. Reported Earnings • May 12
First quarter 2021 earnings released: EPS Rp22.43 (vs Rp34.47 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: Rp1.73t (down 22% from 1Q 2020). Net income: Rp514.7b (down 35% from 1Q 2020). Profit margin: 30% (down from 36% in 1Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 4% per year. Reported Earnings • Feb 11
Full year 2020 earnings released: EPS Rp91.59 (vs Rp128 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: Rp6.70t (down 13% from FY 2019). Net income: Rp2.10t (down 28% from FY 2019). Profit margin: 31% (down from 38% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Nov 24
New 90-day high: Rp790 The company is up 6.0% from its price of Rp745 on 26 August 2020. The Indonesian market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 4.0% over the same period. Reported Earnings • Nov 07
Third quarter 2020 earnings released: EPS Rp16.72 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: Rp1.42t (down 23% from 3Q 2019). Net income: Rp383.6b (down 44% from 3Q 2019). Profit margin: 27% (down from 37% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings.