Midweek M-Fund Update Ed. Minggu 4 – Oktober 2026: IHSG Kembali Tertekan: Carry Tetap Core
Research – Mirae Asset Sekuritas Indonesia
Mutual FundNovani Karina Saputri
DownloadOct 28, 2026
Research
Flash Focus: Bank Central Asia (BBCA IJ/Not rated) - Strong Loans, Soft Earnings, MSCI Clouds
BBCA reported 9M26 net profit of IDR45.2tr (+4.2% YoY), supported by NII growth of 1.7% YoY to IDR65.2tr and lower net provisions ( 25.6% YoY). PPOP rose 2.5% YoY to IDR58.5tr, while 3Q26 net profit increased 5.6% QoQ to IDR15.7tr, reflecting improving sequential earnings momentum.
StockMuhammad Nurkholis Syafruddin
DownloadOct 27, 2026
Indonesia Daily Focus October 28, 2026
BBNI posted 3Q26 net profit of IDR5.4tr (+5.2% QoQ, +6.8% YoY), bringing 9M26 earnings to IDR16.1tr (+6.6% YoY). The QoQ growth came from a 36.8% QoQ drop in provisions, while NII fell 2.7% QoQ and PPOP declined 1.5% QoQ. Loans grew 22.2% YoY to IDR992.5tr, funded by 20.4% YoY TPF growth.
Daily ReportResearch Team
DownloadOct 27, 2026
Fixed Income Daily Update - October 28, 2026
Yesterday’s SUN auction absorbed only IDR20.65tr from IDR31.09tr in bids, below the IDR30tr indicative target , with a soft bid to cover of around 1.5x and demand concentrated in FR0110 and FR0111. We see the weak auction and government bond turnover of only around IDR9tr—the lowest since Jan 25 and 33% below corporate bond transactions—as reinforcing thinner market liquidity and cautious duration appetite, particularly at the long end.
Fixed Income Daily UpdateJessica Tasijawa
DownloadOct 27, 2026
Flash Focus: Bank Mandiri (BMRI IJ/Not rated) - Haji Isam's Share Pledge, Part III: Mandiri Clarifies, Concentration Replaces Collateral as the Key Risk
BMRI disclosed an IDR40tr facility to Jhonlin Baratama, of which IDR17tr has been drawn. The facility funds the capex and financing needs of Jhonlin Group’s coal businesses. The drawn amount is below the IDR26.1tr BYAN transaction value we previously assumed, while the limit points to a broader group level umbrella facility. BMRI did not explicitly answer whether the facility is used for businesses run with BYAN.
StockMuhammad Nurkholis Syafruddin
DownloadOct 27, 2026
Flash Focus: Bank Negara Indonesia (BBNI IJ/Not rated) - Loans Racing Ahead, but Margin and Asset Quality Cap Earnings
BBNI posted 3Q26 net profit of IDR5.4tr (+5.2% QoQ, +6.8% YoY), bringing 9M26 earnings to IDR16.1tr (+6.6% YoY). The QoQ growth came from provisions, which dropped 36.8% QoQ to IDR1.9tr (3Q26 CoC: 0.7% vs. 1.2% in 2Q26). Core operations softened, however. NII fell 2.7% QoQ to IDR11.0tr, as interest expense jumped 24.5% QoQ against only 8.9% QoQ growth in interest income, while opex rose 7.4% QoQ, pushing PPOP down 1.5% QoQ to IDR9.0tr. Loans grew 22.2% YoY (+2.5% QoQ; +10.3% YTD) to IDR992.5tr, funded by TPF growth of 20.4% YoY (CASA ratio 65.2%).
StockMuhammad Nurkholis Syafruddin
DownloadOct 26, 2026
New to trading or investing?
Learn the basics, understand the strategies, and build your confidence through practical courses and videos.
Mirae Asset Academy