Foreign Investors Keep Pressuring BBCA: Stock Drops Nearly 27% Despite Solid Fundamentals

Data shows that foreign ownership in BBCA fell sharply from 35.86% in January 2025 to only 33.24% by September 2025. During the same period, foreign investors recorded a net sell of Rp 32.38 trillion in the regular market as of October 15, 2025.

This massive sell-off has had a clear impact on the stock’s performance. Since the beginning of the year, BBCA shares have declined by -26.77%, currently trading around Rp 7,250 per share — the lowest level in three years after briefly touching Rp 7,225 intraday.

As a result, BBCA’s market capitalization has fallen from Rp 1,153 trillion at the start of the year to about Rp 885 trillion by mid-October.

According to Teguh Hidayat, Director of Avere Investama, the foreign outflow in BBCA this year marks one of the largest in the history of the IDX. He believes that the selling pressure is not only driven by global market sentiment but also by a negative precedent that has shaken investor confidence.

“There was a rumor about the possibility of a government takeover of BBCA. That became a very negative precedent because it’s something that has never happened before in any country,” Teguh told KONTAN on Wednesday (October 15).

Although the rumor has since subsided, its impact on investor sentiment remains. Analysts note that BBCA’s fundamentals remain strong, with profitability and capital ratios well above the industry average. However, the foreign outflow reflects caution toward policy risks and political uncertainty in the months ahead.

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While foreign selling pressure shows no sign of slowing, many analysts still believe that BBCA remains one of the most resilient stocks in Indonesia’s financial sector. In the long run, its strong fundamentals and customer loyalty will continue to be the key pillars supporting the bank’s stability amid market volatility.

Satra Sinar Abadi Group

Despite its strong financial performance, pressure on PT Bank Central Asia Tbk (BBCA) shares seems far from over. Throughout 2025, foreign investors have been steadily selling their holdings in Indonesia’s largest private bank, leading to a significant correction in its stock price on the Indonesia Stock Exchange (IDX).