JAKARTA (Yosefardi) – Investors sold off shares of PT Bank Tabungan Negara (BTN) Tbk (BBTN) on Wednesday with over 213 million shares, valuing of Rp222.36 billion, exchanged hands.
At 3.46 pm Jakarta time, BBTN lost 9.55% to Rp1,000 per share. The stock has fallen 18% from Rp1220 in January 9, 2015.
It reached its pick at Rp1405, for 2014, in April 16, but then dropped to its lowest for the year at Rp990 in June 9.
Now investors opted to sell off BBTN shares on concern the bank might cut its interest rate for loans.
The Financial Services Authority (OJK) had urged national banks to cut the rates of loans by early of this year.