IDX president director Tito Sulistyo sang with the crowd during the last bourse closing in 2016 on Friday (30/12). (Antara Photo/Puspa Perwitasari)

Indonesian Small-Cap Banks Saw Best Returns in Asia-Pacific: Report


JANUARY 11, 2017

Jakarta. Indonesian small-cap banks saw best returns in Asia-Pacific last year, a report by S&P Global Market Intelligence revealed on Wednesday (11/01).

Listed agriculture-focused lender Bank Rakyat Indonesia Agroniaga, with a market capitalization of $403.6 million, topped the list with a one-year total return of 392.2 percent.

Regional lender Bank Pembangunan Daerah Banten, with market cap of $2.4 billion, followed with 391.3 percent return.

Other Indonesian banks on top of the list are Bank Sinarmas and Bank Maybank Indonesia, with 121.6 percent and 98.8 percent one-year total return respectively. Bank Sinarmas had a market cap of $984.3 million, while Bank Maybank Indonesia of $1.7 billion, as of Jan. 2.

"At the opposite end was Bank of India Indonesia, with the worst total return among Asia-Pacific banks in 2016, costing investors 42.98 percent during the year," the report said.

Bank Permata, a lender partly owned by conglomerate Astra International, was costing investors 35.5 percent.

According to the report, China's four biggest banks maintained their position as the banks with the biggest market capitalization.

Industrial and Commercial Bank of China was first with $223.1 billion market cap as of Dec. 31, down 4.4 percent from Sept. 30.

China Construction Bank stayed on second place with $192.6 billion, Agricultural Bank of China was third with $143.8 billion, and Bank of China fourth with $141.4 billion.