BBRI - Agrees to buy back shares worth IDR3 tn

BBRI - Agrees to buy back shares worth IDR3 tn The Annual General Meeting of Shareholders (AGMS) of Bank Rakyat Indonesia (BBRI) held today, Monday (24/3), approved the plan for a share buyback with a total value of up to IDR3 tn. The stock buyback process is carried out with the aim of reducing the number of circulating shares, increasing the stock value for shareholders, and its implementation is in accordance with strategies, program plans, and internal policies. The transfer of shares resulting from the buyback is in accordance with the provisions of POJK 29/2023 and OJK Regulation 11/2016 along with its amendments regarding the Minimum Capital Requirement for Commercial Banks. In the agenda, it is stated that the buyback will be completed no later than 12 months from the date of the Meeting that approves the share buyback, or from March 25, 2025, to March 24, 2026. The buyback is conducted through the Stock Exchange or outside the Stock Exchange, either gradually or all at once, taking into account the company's liquidity and capital conditions, as well as the applicable regulations and laws," the Management stated. (Source : Kontan) Comment : BBRI's buyback is a multi-faceted strategy aimed at stabilizing its stock price, rewarding shareholders and employees, and complying with regulatory requirements. The company is taking a measured approach, considering its financial health and market conditions. The buyback strategy shows that the company has confidence in its own fundamentals.