JAKARTA - PT Bank Negara Indonesia (Persero) Tbk (BBNI) had reportedly concluded a buyback of 40.51 million shares yesterday (15/9). This corporate action first began on March 16, 2023, following shareholders’ approval on March 15, 2023.

Okki Rushartomo, Corporate Secretary of BBNI, mentioned that the entire shares gained from the buyback will be utilised for management and employee stock option plan (MESOP) program.

According to Rushartomo, said program will not diminish investors’ trust in the company, as seen in its price-to-book value (PBV) that went up from 1.2 on March 15, 2023, when it secured shareholders’ approval, to 1.4 last week (13/9) during Annual General Meeting of Shareholders.

In addition, BBNI even reported surge in its price from IDR 4,400 to IDR 5,625 per share.

In 2023, BBNI allocated IDR 905 billion for a buyback. Referring to the Financial Report of FY 2022, its assets shrank by IDR 905 billion to IDR 1,028 trillion from IDR 1,029 trillion. Its total equity also slipped to IDR 139.29 trillion from IDR 140.19 trillion. (LK/ZH)