Bank Central Asia (BBCA) January 2026 Performance and Market Updates

Indonesia’s largest bank, PT Bank Central Asia Tbk (BBCA), reported a net profit of approximately Rp5 trillion in January 2026, representing a 6% year-over-year increase and a 13% month-over-month increase. This figure equates to 8.1% of the consensus 2026 full-year estimate, slightly below the 8.2% realized in January 2025 [1]. The performance comes amidst broader market activity and strategic moves by other Indonesian companies.

BBCA’s Key Financial Highlights

• Net Profit: Rp5 trillion (+6% YoY, +13% MoM)
• Provision Expenses: Decreased by 54% YoY
• Pre-Provision Operating Profit (PPOP): Remained flat
• Loan Growth: +6% YoY, lower than the management’s 2026 guidance of +8-10% YoY
• Net Interest Margin (NIM): 5.4% (down from 5.9% in January 2025 and 5.5% in December 2025)
• Cost of Credit (CoC): 0.3%, below the management’s 2026 guidance of 0.4-0.6%

Dividend Outlook

Analysts estimate BBCA’s final dividend from the 2025 financial year to reach approximately IDR 270 per share, yielding a 3.7% dividend yield based on the share price of IDR 7,275 as of February 18, 2026 [1]. This estimate is based on an assumed dividend payout ratio of 70% (compared to 67.4% in 2024), with management indicating potential for an increased payout ratio.

Other Indonesian Market Developments

• Telkom Indonesia (TLKM): Is reportedly considering selling a majority stake in its data center business, NeutraDC, at a valuation of US$1-1.5 billion [1].
• RMK Energy (RMKE): Recorded a significant increase in transportation volume via hauling road, jumping over 10x to 167,500 tons in January 2026 compared to January 2025. Coal sales also grew fourfold to 513,600 tons [1].
• Modern International (MDRN): Collaborated with PT Dirgantara Indonesia and Genertec to develop and implement advanced smart factory CNC systems [1].
• INET: PT Abadi Kreasi Unggul Nusantara increased its ownership portion in INET to 58.55% after purchasing ~125.9 million shares [1].
• Darma Henwa (DEWA): Completed a share buyback of approximately 210 million shares, utilizing its full Rp950 billion buyback allocation [1].
• Bumi Resources Minerals (BRMS): Experienced a sealing of one area within its work contract area by the Forest Area Control Task Force due to illegal mining activity [1].
• Tirta Mahakam Resources (TIRT): PT Harita Jayaraya sold ~24.4 million TIRT shares, reducing its ownership portion to 71.13% [1].
• Triputra Agro Persada (TAPG): Commissioner Tjandra Karya Hermanto increased his ownership in TAPG [1].

Market Trends and Global Economic Factors

S&P Dow Jones Indices continues to monitor share ownership transparency in Indonesia and will proceed with rebalancing in March 2026 according to standard procedures [1]. The US Bureau of Labor Statistics reported that the Consumer Price Index (CPI) inflation in the US in January 2026 showed a slowing trend, with annual core inflation at its lowest level since March 2021 [1].

Stock Transactions

• Merdeka Copper Gold (MDKA): Commissioner Andrew Phillip Starkey bought 300,000 shares [1].
• XLSmart Telecom Sejahtera (EXCL): Director Yessie Dianty Yosetya bought 342,200 shares [1].

Disclaimer: This information is based on reports as of February 18, 2026 and is subject to change. All investment decisions should be made with careful consideration and independent research.