Jakarta. Investors are gaining confidence as state-owned bank BNI recently announced a solid performance.

BNI reported that its net profit had grown 15.1 percent year-on-year as of Sep. 2023. Its net profit amounted to Rp 15.8 trillion. The bank attributed this growth to the credit distribution, among others, which had also grown 7.8 percent year on year to Rp 671.4 trillion over the same period. This led to an increase in the average daily trading volume or daily turnover of BBNI which reached Rp 271 billion in Oct. 2023. This marks an 18 percent increase in the average daily turnover during the same period last year, which stood at Rp 230 billion. 

BNI’s shares closed at a price of Rp 4,850 per share on Oct. 27, bringing BBNI’s market cap to Rp 181 trillion. The bank attributed this to the 1:2 stock split on Oct. 6, thus expanding the investor base.

This corporate action, coupled with the solid performance, also earned praise from Vera Febyanthy, a member of the Commission XI at the House of Representatives.

“BNI’s 1:2 stock split had made BBNI shares more affordable for investors, especially retail investors. BNI also saw a positive growth in its net profit in the third quarter,” Vera said.

“Hopefully, investors are increasingly interested in BBNI’s shares following these milestones,” Vera said while hoping that the bank would continue to post net profit growth and maintain asset quality.