DIGIVESTASI - The end of the era of high interest rates by the central bank is considered good news for the banking industry. With the decline in benchmark interest rates, banks have the potential to achieve greater profits in the future. This is due to a decrease in the cost of funds (CoF) of banks, which will encourage an increase in revenue from net interest margin (NIM). In addition, bank lending rates will also fall, so demand for financing is expected to increase.

This positive outlook has also attracted investor interest in banking stocks. This is reflected in the increase in the share prices of a number of large banks that recorded all-time highs (ATH) after Bank Indonesia (BI) lowered its benchmark interest rate to 6 percent. After several stocks reached ATH records, the question arises: which banking stocks are currently the most expensive on the Indonesia Stock Exchange (IDX)?

PT Bank Central Asia Tbk (BBCA) still holds the position as the most expensive bank stock in Indonesia. At the close of trading on September 25, 2024, BBCA's share price was at IDR 10,650 per share.

After BI lowered the benchmark interest rate on September 17, 2024, BBCA shares tended to strengthen and reached the highest level of IDR 10,950 per share on September 23, 2024, before finally correcting. On a calendar year basis, BBCA shares have risen around 13.30 percent from their initial position in 2024. At the beginning of this year, the shares of the bank owned by the Djarum Group were traded at Rp 9,400 per share. 

In the second position, there are shares of PT Bank Mandiri (Persero) Tbk (BMRI), which was recorded at the end of this week at the level of Rp 7,050 per share. The shares of the bank with the largest assets in Indonesia have gained 16.53 percent from the beginning of 2024, where at the beginning of the year the price was at Rp 6,050 per share.

The third position is occupied by PT Bank Negara Indonesia (Persero) Tbk (BBNI) shares, which are at the level of IDR 5,450 per share until September 27, 2024.

The following is a list of the 5 most expensive bank stocks on the IDX until September 27, 2024:

1. BBCA: Rp 10,650 per share
2. BMRI: IDR 7,050 per share
3. BBNI: IDR 5,450 per share
4. BBRI: IDR 5,100 per share
5. MEGA: IDR 5,000 per share

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