JAKARTA – Banking stocks demonstrated varied movements during the first trading session today, Tuesday, January 20, 2026, as news circulated regarding Deputy Finance Minister Thomas Djiwandono’s potential candidacy for Deputy Governor of Bank Indonesia (BI). The market showed a mixed reaction, with some key players experiencing gains while others faced slight declines.
Throughout the morning’s trading, several banking sector stocks displayed notable fluctuations. By 11:59 AM WIB, shares of PT Bank Negara Indonesia (Persero) Tbk. (BBNI) had climbed 10 points, marking a 0.22% increase to Rp4,630 per share. Over the course of the session, BBNI traded within a range of Rp4,620 to Rp4,630, though it briefly dipped to its lowest point of Rp4,570 per share.
Further Reading: Thomas Djiwandono’s Track Record: Prabowo’s Nephew Now a Candidate for BI Deputy Governor
Similarly, PT Bank Rakyat Indonesia (Persero) Tbk. (BBRI) saw its shares strengthen by 20 points, or 0.52%, reaching Rp3,860 per share. BBRI opened at Rp3,850 and touched an intraday high of Rp3,880 per share. This positive trend was also mirrored by PT Bank Mandiri (Persero) Tbk. (BMRI), whose shares, adorned with their signature golden ribbon logo, surged by 50 points, or 1.00%, to Rp5,050 per share by 11:59 AM WIB, having previously hit a high of Rp5,075 per share.
Related Story: Thomas Djiwandono as BI Deputy Candidate: Can He Stabilize the Rupiah?
Other state-owned banks also experienced an upward trajectory. Shares of PT Bank Tabungan Negara (Persero) Tbk. (BBTN) registered a modest gain of 5 points, or 0.41%, settling at Rp1,225 per share. Throughout the session, BBTN fluctuated within the Rp1,225 to Rp1,230 range. Meanwhile, PT Bank Syariah Indonesia (Persero) Tbk. (BRIS) shares remained stagnant at Rp2,260 per share.
Read More: Rupiah Plummets, Finance Minister Purbaya Says No Link to Thomas Djiwandono Issue
Despite its stagnant closing price, BRIS shares touched a low of Rp2,240 per share at 10:14 AM WIB before recovering to an intraday high of Rp2,270 per share by 10:39 AM WIB. In the private banking sector, PT Bank Central Asia Tbk. (BBCA) saw its shares weaken by 100 points, or 1.23%, closing at Rp8,025 per share. BBCA had opened at Rp8,125 per share, which also marked its highest price during the session.
In contrast to BBCA, PT Bank CIMB Niaga Tbk. (BNGA) experienced a significant rally, gaining 40 points or 2.18% to reach Rp1,875 per share. BNGA shares traded between Rp1,835 and Rp1,875 during the first session. The digital banking segment also presented a mixed picture. PT Bank Jago Tbk. (ARTO) shares climbed 15 points, or 0.79%, to Rp1,925 per share, having traded within a range of Rp1,910 to Rp1,935.
However, PT Allo Bank Indonesia Tbk. (BBHI), a bank owned by conglomerate Chairul Tanjung, found itself in the red. By 11:59 AM WIB, BBHI shares had fallen by 15 points, or 1.01%, to Rp1,475 per share, although they did touch an intraday high of Rp1,510 per share earlier in the session.
According to Nafan Aji Gusta, Senior Investment Information at Mirae Asset Sekuritas, the news surrounding Deputy Finance Minister Thomas Djiwandono’s potential nomination as Deputy Governor of Bank Indonesia has not yet had a significant impact on banking stock movements during today’s first trading session. “It hasn’t had a significantly influential effect,” Nafan told Bisnis on Tuesday, January 20, 2026. He further explained that Bank Indonesia (BI) maintains its institutional independence in formulating and implementing policies designed to preserve domestic monetary stability.
Summary
Banking stocks demonstrated varied movements during the first trading session on January 20, 2026, fueled by circulating news of Deputy Finance Minister Thomas Djiwandono’s potential candidacy for Deputy Governor of Bank Indonesia. Key state-owned banks like PT Bank Negara Indonesia (BBNI), PT Bank Rakyat Indonesia (BBRI), and PT Bank Mandiri (BMRI) experienced gains, while private and digital banking sectors showed a mixed reaction.
Specifically, BBNI climbed 0.22%, BBRI strengthened by 0.52%, and BMRI surged by 1.00%. In contrast, PT Bank Central Asia (BBCA) shares weakened by 1.23%, and PT Allo Bank Indonesia (BBHI) fell by 1.01%, though PT Bank CIMB Niaga (BNGA) rallied 2.18%. An expert from Mirae Asset Sekuritas noted that the news had not yet significantly impacted banking stock movements, underscoring Bank Indonesia’s institutional independence.