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Indonesian (IDX) Banks Industry Analysis

UpdatedFeb 21, 2026
DataAggregated Company Financials
Companies49
  • 7D0.6%
  • 3M-5.6%
  • 1Y-4.8%
  • YTD-2.7%

In the last week, Banks has been flat. Unfortunately though, the industry is down 5.6% over the past 12 months. 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
Sat, 21 Feb 2026Rp2891.2tRp625.0tRp235.0t15.6x12.3x4.6x
Mon, 19 Jan 2026Rp3045.5tRp620.7tRp229.1t17.9x13.3x4.9x
Wed, 17 Dec 2025Rp2937.7tRp624.3tRp230.6t17.9x12.7x4.7x
Fri, 14 Nov 2025Rp3000.5tRp619.7tRp229.1t17.2x13.1x4.8x
Sun, 12 Oct 2025Rp2829.1tRp614.7tRp233.3t16.8x12.1x4.6x
Tue, 09 Sep 2025Rp2824.4tRp611.2tRp235.7t16.6x12x4.6x
Thu, 07 Aug 2025Rp2877.9tRp610.9tRp235.5t16.2x12.2x4.7x
Sat, 05 Jul 2025Rp2849.6tRp605.0tRp238.6t17.7x11.9x4.7x
Mon, 02 Jun 2025Rp3167.5tRp604.7tRp238.6t19.5x13.3x5.2x
Wed, 30 Apr 2025Rp2939.7tRp598.7tRp239.4t19.2x12.3x4.9x
Fri, 28 Mar 2025Rp2773.5tRp595.9tRp237.4t18.1x11.7x4.7x
Sun, 23 Feb 2025Rp2998.3tRp594.6tRp236.9t20x12.7x5x
Tue, 21 Jan 2025Rp3211.7tRp590.4tRp238.0t19.3x13.5x5.4x
Thu, 19 Dec 2024Rp3194.3tRp589.8tRp237.7t19.6x13.4x5.4x
Sat, 16 Nov 2024Rp3380.3tRp589.7tRp238.0t19.8x14.2x5.7x
Mon, 14 Oct 2024Rp3562.5tRp580.5tRp231.9t20.3x15.4x6.1x
Wed, 11 Sep 2024Rp3634.4tRp580.5tRp232.0t20.1x15.7x6.3x
Fri, 09 Aug 2024Rp3419.3tRp579.8tRp231.4t19.6x14.8x5.9x
Sun, 07 Jul 2024Rp3356.9tRp574.5tRp229.7t17.6x14.6x5.8x
Tue, 04 Jun 2024Rp3138.0tRp574.3tRp229.7t18.1x13.7x5.5x
Thu, 02 May 2024Rp3454.9tRp572.2tRp230.0t17.6x15x6x
Sat, 30 Mar 2024Rp3749.9tRp570.5tRp228.7t17.2x16.4x6.6x
Mon, 26 Feb 2024Rp3670.6tRp571.2tRp228.9t16.7x16x6.4x
Wed, 24 Jan 2024Rp3498.1tRp568.7tRp217.4t16.6x16.1x6.2x
Fri, 22 Dec 2023Rp3347.3tRp568.6tRp217.4t15.2x15.4x5.9x
Sun, 19 Nov 2023Rp3240.9tRp567.3tRp216.8t15x15x5.7x
Tue, 17 Oct 2023Rp3079.5tRp555.8tRp211.6t15.1x14.6x5.5x
Thu, 14 Sep 2023Rp3276.7tRp555.6tRp211.4t16.5x15.5x5.9x
Sat, 12 Aug 2023Rp3383.8tRp552.6tRp210.0t16.2x16.1x6.1x
Mon, 10 Jul 2023Rp3222.3tRp543.2tRp204.2t16.4x15.8x5.9x
Wed, 07 Jun 2023Rp3181.3tRp542.8tRp204.0t16.4x15.6x5.9x
Fri, 05 May 2023Rp3120.5tRp539.9tRp201.9t18.9x15.5x5.8x
Sun, 02 Apr 2023Rp3044.9tRp518.1tRp190.9t18.2x15.9x5.9x
Tue, 28 Feb 2023Rp3043.1tRp515.8tRp190.5t16.6x16x5.9x
Price to Earnings Ratio

16x


Total Market Cap: Rp3043.1tTotal Earnings: Rp190.5tTotal Revenue: Rp515.8tTotal Market Cap vs Earnings and Revenue0%0%0%
Indonesian Banks Industry Price to Earnings3Y Average 14.3x202420252026
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 12.2x which is lower than its 3-year average PE of 14.3x.
  • The 3-year average PS ratio of 5.5x is higher than the industry's current PS ratio of 4.6x.
Past Earnings Growth
  • The earnings for companies in the Banks industry have grown 7.2% per year over the last three years.
  • Revenues for these companies have grown 6.6% 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 Market0.43%
Financials0.62%
Banks0.59%
Regional Banks2.28%
Diversified Banks0.52%
Industry PE
  • Investors are most optimistic about the Regional Banks industry which is trading above its 3-year average PE ratio of 20.8x.
    • Analysts are expecting annual earnings growth of 15.5%, which is higher than its past year's earnings growth of 10.2% per year.
  • Investors are most pessimistic about the Diversified Banks industry, which is trading below its 3-year average of 14.2x.
Forecasted Growth
  • Analysts are most optimistic on the Regional Banks industry, expecting annual earnings growth of 15% over the next 5 years.
  • This is better than its past earnings growth rate of 10% per year.
  • 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
BBRI Bank Rakyat Indonesia (Persero)Rp3.84k1.6%
+Rp9.0t		-1.3%PB1.7x
BMRI Bank Mandiri (Persero)Rp5.13k1.0%
+Rp4.7t		1.0%PB1.6x
SUPA Super Bank IndonesiaRp1.05k9.9%
+Rp3.2t		n/aPB6.6x
BBCA Bank Central AsiaRp7.23k0.3%
+Rp3.1t		-19.7%PB3.2x
BDMN Bank Danamon IndonesiaRp2.78k6.5%
+Rp1.7t		10.3%PB0.5x

Latest News

BDMN
Rp2,780.00
Bank Danamon Indonesia
7D
6.5%
1Y
10.3%
NOBU
Rp680.00
Bank Nationalnobu
7D
27.1%
1Y
7.1%
BMRI
Rp5,125.00
Bank Mandiri (Persero)
7D
1.0%
1Y
1.0%

BMRI: New Industrial Branch And Higher Margins Will Support Earnings Upside

Analysts have lifted their price target for Bank Mandiri (Persero) to IDR 7,520 from IDR 7,215, reflecting updated views that factor in a slightly lower discount rate, a higher projected profit margin, and a modestly lower future P/E multiple. What's in the News Bank Mandiri inaugurated a new branch office at PT OKI Pulp & Paper Mills, a business unit of APP Group, on November 24, 2025.
BBNI
Rp4,470.00
Bank Negara Indonesia (Persero)
7D
-0.2%
1Y
4.0%

BBNI: Higher Revenue Assumptions Will Mask Pressure From Lower Profit Margins

Analysts have lifted their price target for Bank Negara Indonesia (Persero) from IDR 3,804 to IDR 4,012 as they factor in updated assumptions that include a different mix of projected revenue growth, profit margin and future P/E. Valuation Changes Fair Value: IDR 3,803.66 has moved to IDR 4,011.54, indicating a slightly higher assessed value per share.
BNLI
Rp4,020.00
Bank Permata
7D
-2.7%
1Y
94.2%
BRIS
Rp2,340.00
Bank Syariah Indonesia
7D
-0.4%
1Y
-22.8%
BBRI
Rp3,840.00
Bank Rakyat Indonesia (Persero)
7D
1.6%
1Y
-1.3%

BBRI: December Meeting Will Support Governance Changes And Undervalued Outlook

Narrative Update on Bank Rakyat Indonesia (Persero) Analysts are maintaining their fair value estimate for Bank Rakyat Indonesia (Persero) at Rp5,400 while fine tuning assumptions, such as a slightly lower discount rate of 12.032%, a modestly higher revenue growth outlook of 35.43%, a small adjustment to profit margin expectations to 22.59%, and a marginally lower future P/E of 14.96x. Together, these changes reflect updated views on the bank’s risk profile and earnings mix.
BSWD
Rp1,350.00
Bank of India Indonesia
7D
16.9%
1Y
n/a
BNGA
Rp1,865.00
Bank CIMB Niaga
7D
-0.5%
1Y
8.1%
BBCA
Rp7,225.00
Bank Central Asia
7D
0.3%
1Y
-19.7%
NISP
Rp1,530.00
Bank OCBC NISP
7D
-0.6%
1Y
15.0%
BANK
Rp610.00
Bank Aladin Syariah
7D
-3.2%
1Y
-25.6%
BSIM
Rp1,050.00
Bank Sinarmas
7D
-5.0%
1Y
22.8%
PNBN
Rp1,110.00
Bank Pan Indonesia
7D
0.9%
1Y
-29.7%
SUPA
Rp1,050.00
Super Bank Indonesia
7D
9.9%
1Y
n/a
ARTO
Rp1,635.00
Bank Jago
7D
-2.1%
1Y
-19.1%