Maybank keeps IDR 4,800 target for BNI stock

Published on 10/09/2026 at 12:56 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

BNI stock held at EUR 0.17 on October 9, 2026 versus EUR 0.17 prior close. First-half loans rose 24.40 percent to IDR 968.50 trillion.

Key points in brief

Maybank Sekuritas maintained a Buy recommendation and IDR 4,800 target for BNI stock in research dated September 21, 2026.
First-half 2026 loans reached IDR 968.50 trillion, up 24.40 percent year over year.
BNI stock was unchanged at EUR 0.17 at Lang & Schwarz on October 9, 2026, versus the EUR 0.17 prior close.
BNI reported 15.10 million wondr users and 1.10 billion transactions in the first half of 2026.

BNI, ID1000096605, Illustration mit AI erstellt.

Maybank Sekuritas Indonesia maintained a Buy recommendation and an IDR 4,800 target for BNI stock in research dated September 21, 2026, as Kontan reported. The target followed stronger credit growth, while margin pressure and funding costs remained key earnings risks.

Three milestones shape the case

On September 9, 2026, BNI said wondr by BNI had reached 15.10 million users and 1.10 billion transactions worth IDR 958.00 trillion in the first half of 2026, according to BNI.

On September 10, 2026, BNI retained a full-year loan-growth outlook of 8.00 percent to 10.00 percent. First-half loans had reached IDR 968.50 trillion, up 24.40 percent year over year, while the projected net interest margin stood at 3.30 percent to 3.50 percent, according to Kompas.

On September 21, 2026, Maybank Sekuritas raised its 2026 loan-growth projection to 9.00 percent from 8.00 percent while maintaining the IDR 4,800 target and Buy recommendation, Kontan reported.

What does the target imply?

The IDR 4,800 target stood 39.94 percent above the IDR 3,430 primary-exchange price quoted on October 9, 2026. That comparison highlights the gap between BNI's rapid loan expansion and the market's continuing attention to margins, provisions and funding costs.

For the first half of 2026, BNI's pre-provision operating profit rose 14.50 percent to IDR 18.50 trillion, while net profit increased 6.60 percent to IDR 10.76 trillion, according to Indonesia Business Post. The narrower profit growth relative to operating profit makes asset quality and funding efficiency central to the investment discussion.

Next date and trading level

InvestPane lists October 28, 2026, as BNI's next earnings date. At Lang & Schwarz, BNI stock was trading at EUR 0.17 on October 9, 2026, at 12:53 p.m. CEST, unchanged versus the EUR 0.17 prior close dated October 8, 2026. The further course of trading is shown by the continuously updated real-time quote of BNI stock.