Bank Shares Sink Again on Cabinet Reshuffle, OJK Assures Fundamentals Remain Strong
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JAKARTA, Investortrust.id — Indonesia’s largest banks have come under fresh pressure as shares of four major lenders fell again on Tuesday, Sept 9, 2025, in the wake of President Prabowo Subianto’s cabinet reshuffle. The Financial Services Authority stressed, however, that the country’s banking system remains fundamentally strong and well-capitalized.
The so-called “big four” lenders—PT Bank Rakyat Indonesia Tbk, or BBRI, PT Bank Mandiri Tbk, or BMRI, PT Bank Central Asia Tbk, or BBCA, and PT Bank Negara Indonesia Tbk, or BBNI—all ended in negative territory, extending losses from the previous session triggered by the replacement of Finance Minister Sri Mulyani Indrawati with Purbaya Yudhi Sadewa, former chairman of the Indonesia Deposit Insurance Corporation.
Dian Ediana Rae, the chief executive for banking supervision at the Financial Services Authority (OJK), said the drop reflected short-term sentiment rather than any structural weakness. “If we are talking about bank shares, fundamentally they are healthy. Both state-owned and private banks are in very strong condition,” he said at the Digital Banking Awards 2025 hosted by Investortrust at JW Marriott Hotel Jakarta on Tuesday.
He noted that equity markets often move on shifting perceptions, shaped by global uncertainties and domestic political dynamics. “Fluctuations are normal. Today there may be disruption, tomorrow there may not. Investors should not focus on the short term. As long as fundamentals remain strong, recovery should follow soon,” Dian said.
Dian underlined that OJK continues to enforce strict prudential rules and risk management across the banking sector. “The most important thing, as a supervisor, is to confirm to investors that there is nothing problematic in our banks. Fundamentally, our banks are strong, so investors should not be overly worried,” he emphasized.
He added that political and social stability remain crucial for sustaining investor confidence, but overall the regulator sees the financial system as stable and capable of supporting economic growth. “Bank investors should take a medium- to long-term view. Small disturbances should not be overemphasized. As long as fundamentals stay strong, the outlook is positive,” Dian said.
On Tuesday’s close, BBRI dropped 2.82% to Rp 3,790, BMRI sank 4.01% to Rp 4,310, BBCA fell 2.27% to Rp 7,525, and BBNI declined 2.39% to Rp 4,080. The previous day, BBRI fell 2.5%, BMRI 4.06%, BBCA 3.75%, and BBNI 4.35%.
President Prabowo formally swore in Purbaya Yudhi Sadewa as finance minister on Monday, Sept 8, 2025, replacing Sri Mulyani. The announcement came during a reshuffle ceremony at the Presidential Palace in Jakarta.
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