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The Struggles of State-Owned Banks

Monday, October 27, 2025

State-owned banks lose a third of their value amid fiscal strain, macroeconomic uncertainty, and policy overreach. Danantara’s intervention offers brief respite, but doubts persist.

arsip tempo : 176591837843.

Illustration. TEMPO/Alvin Siregar. tempo : 176591837843.

OVER the past year, fortune seems to have turned its back on Indonesia’s four state-owned banks—Bank Rakyat Indonesia (BRI), Bank Mandiri, Bank Negara Indonesia (BNI), and Bank Tabungan Negara (BTN). The combined market capitalization of these lenders, grouped under the Association of State-Owned Banks (Himbara), has sharply declined. As of October 21, 2025, roughly Rp500 trillion in market value has evaporated (see table).

Mark

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Yopie Hidayat

Prabowo Subianto weekly economic review Himbara Danantara state-owned banks strategic investment Indonesia Stock Exchange Purbaya Yudhi Sadewa
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