JAKARTA (Yosefardi) – Most banking stocks fell this morning in line with broader market sentiment while some were flat.
Bank Tabungan Negara dropped 4.3% to Rp1,110 per share with 20.27 million shares exchange hands while Bank Mandiri lost 2.8% to Rp8,650.
Bank Central, Bank Negara Indonesia, and Panin Bank were also in red. While Bank Rakyat Indonesia was flat.
The concern on expected high inflation and cost of fund hit banking stocks as banks will face a pressure on net interest margin as at the moment they have no intention to increase loan interest.