Rancak Media – JAKARTA — A series of share buybacks initiated by the consortium of state-owned banks, collectively known as Himbara, is widely regarded as a strategic move capable of significantly curbing market volatility and simultaneously signaling robust liquidity within the national banking sector.
Fauzi H. Amro, Deputy Chairman of Commission XI of the House of Representatives (DPR RI), underscored that these proactive buyback initiatives by major players such as PT Bank Mandiri (Persero) Tbk. (BMRI), PT Bank Negara Indonesia (Persero) Tbk. (BBNI), and PT Bank Rakyat Indonesia (Persero) Tbk. (BBRI) vividly reflect management’s unwavering confidence in the strong fundamentals underpinning Indonesia’s banking industry.
He further elaborated that management typically executes such share buybacks when they perceive the company’s stock valuation to be below its intrinsic worth. This strategic timing, he noted, signals the profound conviction that Bank Mandiri, BNI, and BRI hold regarding the steadfast solidity of their operational performance.
“We view these actions very positively, as the buybacks can effectively mitigate the market volatility that has recently surfaced and project a powerful signal that Himbara banks possess exceptionally adequate liquidity,” Fauzi stated in an official release on Wednesday, November 12, 2025.
The prominent politician from the Nasdem Party Faction emphasized that these buyback activities also play a crucial strategic role in preserving and fortifying public trust. Moreover, they serve as a tangible demonstration of management’s accountability and commitment to their respective share performance.
Fauzi acknowledged the emergence of certain negative sentiments stemming from dynamic government policies, including the delayed disbursement of funds for Koperasi Merah Putih. This particular incident, he admitted, had briefly created a misperception regarding the true role of Himbara banks.
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Nonetheless, he firmly contended that such government programs are fundamentally designed to bolster, rather than weaken, the nation’s financial industry.
“Ultimately, Commission XI commends the proactive measures taken by Himbara’s management. These share buybacks are integral to sound corporate governance practices, aiming to stabilize share prices, quell unproductive market ‘noise,’ and steadfastly maintain investor trust,” he concluded.
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According to a report by Bisnis.com on Tuesday, October 21, 2025, Bank Mandiri (BMRI) had previously approved a share buyback program valued at Rp1.17 trillion. This decision was formally reached during the Annual General Meeting of Shareholders (RUPST) held on March 25, 2025. The execution of this buyback is slated to occur either through the Indonesia Stock Exchange (BEI) or off-exchange transactions, with completion targeted no later than 12 months following the GMS.
Concurrently, Bank Negara Indonesia (BBNI) has increased its allocation for share buybacks to a substantial Rp1.5 trillion, a notable rise from its earlier allocation of Rp905 billion. Okki Rushartomo, Corporate Secretary of BNI, clarified that this escalation was implemented to counteract selling pressure in the stock market and to emphatically underscore management’s steadfast confidence in the company’s intrinsic fundamentals.
On a similar note, Bank Rakyat Indonesia (BBRI) is also set to execute a significant share buyback totaling Rp3 trillion. This initiative aligns with the outcomes of its RUPST conducted on March 24, 2025, at Menara BRILiaN, South Jakarta. BRI’s management articulated that this action forms a vital part of the company’s overarching strategy to enhance shareholder value while simultaneously supporting its programs aimed at fostering employee share ownership.
Summary
Himbara, the association of state-owned banks including Bank Mandiri, BNI, and BRI, is undertaking a share buyback program. This strategy aims to reduce market volatility and demonstrate strong liquidity. The move reflects management’s confidence in the solid fundamentals of the Indonesian banking industry.
Bank Mandiri, BNI, and BRI have allocated Rp1.17 trillion, Rp1.5 trillion, and Rp3 trillion respectively for their share buyback programs. These actions are intended to stabilize share prices, dampen negative market sentiment, enhance shareholder value, and maintain investor confidence in the companies’ performance.
