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Indonesian (IDX) Banks Industry Analysis

UpdatedAug 21, 2026
DataAggregated Company Financials
Companies49
  • 7D0.5%
  • 3M1.1%
  • 1Y-21.3%
  • YTD-19.1%

Over the last 7 days, the Banks industry has remained flat. As for the longer term, the industry has declined 21% in the last year. As for the next few years, earnings are expected to grow by 7.2% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 21 Aug 2026Rp2405.1tRp643.8tRp247.4t14.5x9.7x3.7x
Sun, 19 Jul 2026Rp2437.4tRp639.9tRp241.4t13.6x10.1x3.8x
Tue, 16 Jun 2026Rp2445.6tRp640.0tRp241.5t13.7x10.1x3.8x
Thu, 14 May 2026Rp2455.8tRp640.3tRp242.8t14x10.1x3.8x
Sat, 11 Apr 2026Rp2644.7tRp629.5tRp237.1t15.7x11.2x4.2x
Mon, 09 Mar 2026Rp2773.8tRp629.4tRp234.7t16.6x11.8x4.4x
Wed, 04 Feb 2026Rp2901.9tRp618.2tRp229.7t16.4x12.6x4.7x
Fri, 02 Jan 2026Rp2992.1tRp624.3tRp230.6t17.4x13x4.8x
Sun, 30 Nov 2025Rp2954.6tRp624.3tRp230.6t17.8x12.8x4.7x
Tue, 28 Oct 2025Rp2985.4tRp615.7tRp232.9t17.5x12.8x4.8x
Thu, 25 Sep 2025Rp2949.3tRp613.6tRp233.2t16.8x12.6x4.8x
Sat, 23 Aug 2025Rp3030.5tRp610.8tRp235.5t17.3x12.9x5x
Mon, 21 Jul 2025Rp2891.9tRp605.0tRp238.6t18.5x12.1x4.8x
Wed, 18 Jun 2025Rp3006.7tRp604.7tRp238.6t18.9x12.6x5x
Fri, 16 May 2025Rp3118.0tRp604.7tRp238.6t20.4x13.1x5.2x
Sun, 13 Apr 2025Rp2820.4tRp596.9tRp237.8t18.2x11.9x4.7x
Tue, 11 Mar 2025Rp2922.0tRp595.8tRp237.5t18.4x12.3x4.9x
Thu, 06 Feb 2025Rp3084.1tRp593.6tRp239.5t19.1x12.9x5.2x
Sat, 04 Jan 2025Rp3199.0tRp589.7tRp237.7t19.2x13.5x5.4x
Mon, 02 Dec 2024Rp3310.5tRp589.8tRp237.7t19.8x13.9x5.6x
Wed, 30 Oct 2024Rp3577.8tRp585.5tRp234.7t20.7x15.2x6.1x
Fri, 27 Sep 2024Rp3733.5tRp580.5tRp232.0t20.4x16.1x6.4x
Sun, 25 Aug 2024Rp3599.4tRp579.8tRp231.6t20.7x15.5x6.2x
Tue, 23 Jul 2024Rp3443.0tRp574.5tRp229.7t17.6x15x6x
Thu, 20 Jun 2024Rp3033.5tRp574.5tRp229.7t18.1x13.2x5.3x
Sat, 18 May 2024Rp3348.3tRp574.0tRp229.8t19.1x14.6x5.8x
Mon, 15 Apr 2024Rp3582.9tRp569.8tRp228.5t16.9x15.7x6.3x
Wed, 13 Mar 2024Rp3773.2tRp570.4tRp228.6t17.2x16.5x6.6x
Fri, 09 Feb 2024Rp3587.1tRp570.3tRp228.7t16.6x15.7x6.3x
Sun, 07 Jan 2024Rp3491.5tRp568.7tRp217.4t16.6x16.1x6.1x
Tue, 05 Dec 2023Rp3313.6tRp567.1tRp216.5t16x15.3x5.8x
Thu, 02 Nov 2023Rp3118.3tRp561.4tRp212.9t14.6x14.6x5.6x
Sat, 30 Sep 2023Rp3243.2tRp555.8tRp211.6t16.1x15.3x5.8x
Mon, 28 Aug 2023Rp3334.9tRp552.7tRp210.1t15.8x15.9x6x
Price to Earnings Ratio

15.9x


Total Market Cap: Rp3334.9tTotal Earnings: Rp210.1tTotal Revenue: Rp552.7tTotal Market Cap vs Earnings and Revenue0%0%0%
Indonesian Banks Industry Price to Earnings3Y Average 13.4x202420252026
Current Industry PE
  • Investors are pessimistic on the Indonesian Banks industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 9.7x which is lower than its 3-year average PE of 13.4x.
  • The 3-year average PS ratio of 5.2x is higher than the industry's current PS ratio of 3.7x.
Past Earnings Growth
  • The earnings for companies in the Banks industry have grown 5.6% per year over the last three years.
  • Revenues for these companies have grown 5.2% 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 Market3.40%
Financials0.87%
Banks0.51%
Regional Banks2.54%
Diversified Banks0.44%
Industry PE
  • Investors are most optimistic about the Regional Banks industry which is trading above its 3-year average PE ratio of 24.2x.
    • Analysts are expecting annual earnings growth of 38.1%, which is higher than its past year's earnings decline of 0.9% per year.
  • Investors are most pessimistic about the Diversified Banks industry, which is trading below its 3-year average of 13.2x.
Forecasted Growth
  • Analysts are most optimistic on the Regional Banks industry, expecting annual earnings growth of 38% over the next 5 years.
  • This is better than its past earnings decline of 0.9% per year.
  • In contrast, the Diversified Banks industry is expected to see its earnings grow by 6.7% 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
BBRI Bank Rakyat Indonesia (Persero)Rp3.23k3.5%
+Rp16.6t		-21.2%PB1.4x
BBCA Bank Central AsiaRp6.45k1.6%
+Rp12.3t		-23.7%PB2.9x
BMRI Bank Mandiri (Persero)Rp4.22k1.2%
+Rp4.7t		-13.7%PB1.4x
BBNI Bank Negara Indonesia (Persero)Rp3.73k2.8%
+Rp3.7t		-15.0%PB0.8x
BNLI Bank PermataRp2.17k2.8%
+Rp2.2t		-28.6%PB1.7x

Latest News

BSWD
Rp1,490.00
Bank of India Indonesia
7D
32.4%
1Y
n/a
BMRI
Rp4,220.00
Bank Mandiri (Persero)
7D
1.2%
1Y
-13.7%
Narrative Update • Aug 10

BMRI: Share Buyback Authorization Will Support Future Upside Potential

Analysts have reset their price target for Bank Mandiri (Persero) from IDR 7,645.93 to IDR 6,800, reflecting updated assumptions for the discount rate, revenue growth, profit margin, and future P/E. What’s in the News for Bank Mandiri (Persero) No recent news stories for Bank Mandiri (Persero) are available from the provided sources at this time.
BBNI
Rp3,730.00
Bank Negara Indonesia (Persero)
7D
2.8%
1Y
-15.0%
Narrative Update • Aug 07

BBNI: Share Repurchase Plan Will Support Future Upside Potential

Analysts now see Bank Negara Indonesia (Persero) trading closer to their updated fair value estimate of IDR 4,462 per share, slightly below the previous IDR 4,622 target, reflecting revised assumptions for revenue growth, margins, discount rate, and future P/E. What’s in the News for Bank Negara Indonesia (Persero) PT Bank Negara Indonesia (Persero) Tbk announces a share repurchase program of up to IDR 627,000 million, funded from internal cash, with the aim of maintaining capital market performance and stability during periods of significant market fluctuations.
ARTO
Rp1,060.00
Bank Jago
7D
-10.5%
1Y
-52.0%
BEKS
Rp23.00
PT. Bank Pembangunan Daerah Banten
7D
-4.2%
1Y
-11.5%
BNBA
Rp730.00
Bank Bumi Arta
7D
-0.7%
1Y
-9.3%
BBMD
Rp1,950.00
Bank Mestika Dharma
7D
-3.5%
1Y
-7.6%
SDRA
Rp218.00
Bank Woori Saudara Indonesia 1906
7D
-1.8%
1Y
-27.8%
PNBN
Rp905.00
Bank Pan Indonesia
7D
-0.5%
1Y
-22.6%
BBSI
Rp4,670.00
Krom Bank Indonesia
7D
-0.6%
1Y
15.9%
BDMN
Rp4,300.00
Bank Danamon Indonesia
7D
3.6%
1Y
66.7%
BNLI
Rp2,170.00
Bank Permata
7D
2.8%
1Y
-28.6%
BBCA
Rp6,450.00
Bank Central Asia
7D
1.6%
1Y
-23.7%
BBRI
Rp3,230.00
Bank Rakyat Indonesia (Persero)
7D
3.5%
1Y
-21.2%
Narrative Update • Jul 16

BBRI: MESOP Buyback Plan Will Shape Steady Fair Value Outlook

Analysts have trimmed their price target for Bank Rakyat Indonesia (Persero) from IDR 2,828 to IDR 2,730, citing updated assumptions around the discount rate, revenue growth, profit margin, and future P/E levels. What’s in the News for Bank Rakyat Indonesia (Persero) PT Bank Rakyat Indonesia (Persero) Tbk announces a share repurchase program of up to IDR 500,000 million, financed through internal cash resources, for use in the Employee and Management Stock Ownership Programme (MESOP).
BTPN
Rp2,200.00
Bank SMBC Indonesia
7D
3.3%
1Y
0.9%