PT Bank Negara Indonesia (Persero) Tbk (JKSE:BBNI) announces a share repurchase program. Under the program, the company will repurchase up to IDR 905,000 million. The program will be funded using free cash flow in the form of retained earnings.

The program intended to help offset selling pressure on the market when the Jakarta Composite Index is fluctuating. The program is subject to shareholder approval which will be obtained at the Annual General Meeting scheduled to be conducted on March 15, 2023. The repurchase program will expire on September 15, 2024.