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Indonesian (IDX) Banks Industry Analysis

UpdatedDec 24, 2025
DataAggregated Company Financials
Companies49
  • 7D0.6%
  • 3M0.09%
  • 1Y-7.4%
  • YTD-8.4%

Last week, the Banks industry hasn't moved much but Bank Permata is up 12% in that time. As for the longer term, the industry has declined 7.1% in the last year. Looking forward, earnings are forecast to grow by 8.0% annually.

Industry Valuation and Performance

Has the Indonesian Banks Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 24 Dec 2025Rp2985.0tRp624.3tRp230.6t17.3x12.9x4.8x
Fri, 21 Nov 2025Rp3043.0tRp620.0tRp229.3t16.3x13.3x4.9x
Sun, 19 Oct 2025Rp2744.7tRp614.7tRp233.3t16x11.8x4.5x
Tue, 16 Sep 2025Rp2942.4tRp611.2tRp235.7t17.2x12.5x4.8x
Thu, 14 Aug 2025Rp3053.7tRp610.8tRp235.5t16.2x13x5x
Sat, 12 Jul 2025Rp2913.2tRp605.0tRp238.6t18.5x12.2x4.8x
Mon, 09 Jun 2025Rp3006.1tRp604.7tRp238.6t18.4x12.6x5x
Wed, 07 May 2025Rp2992.2tRp604.6tRp238.8t19.8x12.5x4.9x
Fri, 04 Apr 2025Rp2936.5tRp596.9tRp237.7t19.1x12.4x4.9x
Sun, 02 Mar 2025Rp2742.1tRp595.2tRp237.4t18.9x11.6x4.6x
Tue, 28 Jan 2025Rp3178.6tRp593.0tRp239.5t19.3x13.3x5.4x
Thu, 26 Dec 2024Rp3180.7tRp589.8tRp237.7t19.1x13.4x5.4x
Sat, 23 Nov 2024Rp3319.9tRp589.8tRp237.9t20.4x14x5.6x
Mon, 21 Oct 2024Rp3668.5tRp580.5tRp231.9t20.5x15.8x6.3x
Wed, 18 Sep 2024Rp3702.5tRp580.5tRp232.0t20.6x16x6.4x
Fri, 16 Aug 2024Rp3488.1tRp579.8tRp231.4t19.7x15.1x6x
Sun, 14 Jul 2024Rp3408.3tRp574.5tRp229.7t17.8x14.8x5.9x
Tue, 11 Jun 2024Rp3184.4tRp574.5tRp229.8t17.8x13.9x5.5x
Thu, 09 May 2024Rp3262.5tRp573.9tRp229.7t19.5x14.2x5.7x
Sat, 06 Apr 2024Rp3582.0tRp570.0tRp228.5t16.9x15.7x6.3x
Mon, 04 Mar 2024Rp3668.6tRp570.8tRp228.5t17.2x16.1x6.4x
Wed, 31 Jan 2024Rp3501.5tRp570.1tRp218.4t16.5x16x6.1x
Fri, 29 Dec 2023Rp3414.4tRp568.7tRp217.4t16x15.7x6x
Sun, 26 Nov 2023Rp3282.6tRp567.3tRp216.8t15.4x15.1x5.8x
Tue, 24 Oct 2023Rp3136.4tRp558.4tRp212.7t14.7x14.7x5.6x
Thu, 21 Sep 2023Rp3281.0tRp555.8tRp211.6t16.1x15.5x5.9x
Sat, 19 Aug 2023Rp3331.9tRp552.7tRp210.1t16.2x15.9x6x
Mon, 17 Jul 2023Rp3292.3tRp543.8tRp204.2t16.1x16.1x6.1x
Wed, 14 Jun 2023Rp3235.6tRp543.1tRp204.0t16.2x15.9x6x
Fri, 12 May 2023Rp3102.7tRp541.7tRp202.8t17.6x15.3x5.7x
Sun, 09 Apr 2023Rp3068.0tRp517.6tRp190.5t19.2x16.1x5.9x
Tue, 07 Mar 2023Rp3000.5tRp515.9tRp190.6t17x15.7x5.8x
Thu, 02 Feb 2023Rp2976.4tRp506.5tRp190.0t16.5x15.7x5.9x
Sat, 31 Dec 2022Rp3017.0tRp497.8tRp185.0t15.9x16.3x6.1x
Price to Earnings Ratio

16.3x


Total Market Cap: Rp3017.0tTotal Earnings: Rp185.0tTotal Revenue: Rp497.8tTotal Market Cap vs Earnings and Revenue0%0%0%
Indonesian Banks Industry Price to Earnings3Y Average 14.4x202320242025
Current Industry PE
  • Investors are relatively neutral on the Indonesian Banks industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 14.4x.
  • The 3-year average PS ratio of 5.6x is higher than the industry's current PS ratio of 4.8x.
Past Earnings Growth
  • The earnings for companies in the Banks industry have grown 7.6% per year over the last three years.
  • Revenues for these companies have grown 7.8% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Indonesian Financials industry?

ID Market-1.70%
Financials0.31%
Banks0.58%
Diversified Banks0.72%
Regional Banks-4.73%
Industry PE
  • Investors are most optimistic about the Regional Banks industry which is trading above its 3-year average PE ratio of 20.2x.
    • Analysts are expecting annual earnings growth of 17.7%, which is higher than its past year's earnings growth of 15.4% per year.
  • Investors are most pessimistic about the Diversified Banks industry, which is trading below its 3-year average of 14.4x.
Forecasted Growth
  • Analysts are most optimistic on the Regional Banks industry, expecting annual earnings growth of 18% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Diversified Banks industry is expected to see its earnings grow by 8.0% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
BNLI Bank PermataRp5.05k12.5%
+Rp20.3t		434.4%PB4x
BBRI Bank Rakyat Indonesia (Persero)Rp3.77k2.2%
+Rp12.0t		-10.2%PB1.7x
BMRI Bank Mandiri (Persero)Rp5.05k1.0%
+Rp4.7t		-12.2%PB1.7x
BSIM Bank SinarmasRp875.002.9%
+Rp492.9b		17.4%PB2x
MASB Bank Multiarta SentosaRp3.44k9.6%
+Rp420.6b		-5.0%PB1.2x

Latest News

BACA
Rp182.00
Bank Capital Indonesia
7D
11.0%
1Y
40.0%
DNAR
Rp181.00
Bank Oke Indonesia
7D
-26.4%
1Y
66.1%
BBNI
Rp4,290.00
Bank Negara Indonesia (Persero)
7D
-2.5%
1Y
-2.1%

BBNI: Revenue Momentum And Governance Changes Will Drive Shares Higher

Analysts have trimmed their price target for Bank Negara Indonesia (Persero) from IDR 6,000 to IDR 5,700, reflecting a slightly lower profit margin outlook and valuation multiple, partly offset by improved assumptions for revenue growth and a modestly reduced discount rate. What's in the News Bank Negara Indonesia (Persero) has scheduled a Special or Extraordinary Shareholders Meeting for December 15, 2025, at 14:00 SE Asia Standard Time to address several strategic corporate matters (company disclosure).
BBRI
Rp3,770.00
Bank Rakyat Indonesia (Persero)
7D
2.2%
1Y
-10.2%
BBYB
Rp474.00
Bank Neo Commerce
7D
-19.7%
1Y
119.4%
BMRI
Rp5,050.00
Bank Mandiri (Persero)
7D
1.0%
1Y
-12.2%

BMRI: Lower Risk Profile Will Support Stronger Forward Market Confidence

Analysts have nudged their price target on Bank Mandiri (Persero) slightly higher, from IDR 5,463 to about IDR 5,497. This reflects marginally stronger expectations for revenue growth and valuation multiples, despite a modestly lower profit margin forecast and a slightly reduced discount rate.
BBCA
Rp8,025.00
Bank Central Asia
7D
-0.6%
1Y
-17.7%
BSWD
Rp845.00
Bank of India Indonesia
7D
5.6%
1Y
-70.2%
AGRO
Rp228.00
Bank Raya Indonesia
7D
-10.2%
1Y
5.6%
BSIM
Rp875.00
Bank Sinarmas
7D
2.9%
1Y
17.4%
BTPN
Rp2,110.00
Bank SMBC Indonesia
7D
-3.2%
1Y
-4.5%
ARTO
Rp1,965.00
Bank Jago
7D
-8.2%
1Y
-17.8%
BMAS
Rp625.00
Bank Maspion Indonesia
7D
-6.7%
1Y
5.0%
BNLI
Rp5,050.00
Bank Permata
7D
12.5%
1Y
434.4%
BBTN
Rp1,155.00
Bank Tabungan Negara (Persero)
7D
0.9%
1Y
2.2%
MASB
Rp3,440.00
Bank Multiarta Sentosa
7D
9.6%
1Y
-5.0%