JAKARTA – PT Bank Mandiri (Persero) Tbk (BMRI) has announced a plan to conduct a buyback with a total budget of up to IDR 1.17 trillion.

This plan will proceed after receiving approval from shareholders on March 25, 2025. Once approved, the buyback will take place within no later than one year after receiving shareholder approval.

M. Ashidiq Iswara, Corporate Secretary of BMRI, explained that the funds for the buyback will be sourced from the company’s cash optimization.

“This action aims to maintain a balance between market conditions and the company’s fundamentals, as well as to sustain stakeholder confidence in supporting continued growth,” he said in a disclosure on Sunday (16/2).

In the same disclosure, Bank Mandiri projected an increase of 1.46% in earnings per share (EPS) post-buyback, from IDR 597.7 to IDR 599.13.

Ashidiq also revealed that the shares repurchased or treasury shares will be allocated for an employee and executive stock ownership program. This program aims to boost their involvement in maintaining BMRI's performance.

As of the first trading session on Monday (17/2), BMRI's stock rose 5.37% to IDR 5,400 per share. However, year-to-date, the stock has declined by 8.3% from IDR 5,850 on January 2, 2025. (DK/ZH)