JAKARTA – PT Bank Negara Indonesia (Persero) Tbk (BBNI) has increased its fund allocation for the share buyback to IDR 1.5 trillion.

This amount marks a 65.7% increase from the initial allocation plan, which was only IDR 905 billion.

"The estimated nominal value of all shares to be repurchased is a maximum of 10% of the company’s total issued capital," BBNI Management stated in its official release.

The management emphasised that this increase in the share buyback fund allocation will not have a material impact on the company’s financial condition.

"Given that the company has sufficient capital and cash flow to finance the [buyback] transaction," BBNI Management added.

It should be noted that BBNI’s management will still seek approval from its shareholders at the upcoming Annual General Meeting of Shareholders (AGMS), which is scheduled for March 26, 2025. (KR/ZH)