Bank Mandiri Stock Price Falls after System Error

TEMPO.CO, Jakarta - The share price of Bank Mandiri (IDX: BMRI) weakened on Monday morning, opening at Rp7,800 or down from Friday's closing price of Rp7,875. BMRI fell deeper to Rp7,775 on 10:00 Jakarta time.

As of this morning, BMRI was transacted 2,000 times with a turnover of Rp103 billion.

Binaartha Sekuritas analyst Muhammad Nafan Aji Gusta said that the correction is within normal category, and said it has little to do with the system error Mandiri experienced on Saturday.

Nafan even predicted BMRI may strengthen this week.

The bank had asked its customers not to access its M-banking services for now to prevent possible impact to the repair and maintenance process. The bank is investigating the cause of Saturday morning's error that caused changes to millions of customers' savings balances. 

After re-balancing customers' accounts, Bank Mandiri ensured that all services have returned to normal, including Mandiri online, internet banking, SMS banking, ATM and EDC.

Bank Mandiri corporate secretary Rohan Hafas said the rebalancing process took a long time as they needed to conduct an IT audit to find out what caused the error. 

Rohan also apologized for what had happened and the inconvenience caused. "Once again we apologize for the inconvenience. Currently our services have recovered and we always ensure the security customers' accounts."

HENDARTYO HANGGI | ANTARA