PT Bank CIMB Niaga Tbk, (BNGA) Fair Value & Analysis
Financial Services · ID · Market cap 40.0T IDR
Fair value as of: Jul 10, 2026
From 6 valuation models · updated 31 days ago
Fair value updated Jul 10, 2026, revised from 3,170 IDR to 3,160 IDR (−0.3%) since Jun 26, 2026. Share price +4.8% over the past month.
A solid business, screening 92% undervalued on our models.
What matters now
- The price is below even our cautious bear case (2,370 IDR). The market is more pessimistic than our downside scenario.
- Solid quality (58/100) at a price below fair value, the discount is the argument here, not the business quality.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 10, 2026.
How to read this chart
60‑month range 576.13 IDR – 1,735 IDR · fair‑value band 2,370 IDR – 3,950 IDR · the 1,650 IDR price screens below the 3,160 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 10, 2026.
Analysis
PT Bank CIMB Niaga Tbk, (BNGA) currently trades at 1,650 IDR, while our model-based Fair Value estimate is 3,160 IDR, implying the stock looks roughly 91.5% undervalued today. The Quality Score stands at 58/100 (solid quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.
Over the trailing twelve months, PT Bank CIMB Niaga Tbk, generated revenue of 18.0T IDR at a net margin of 38.0%. Revenue grew 4.8% year over year. It earns a return on equity of 12.0%. Net debt stands at 581B IDR. Fundamentals as of Jul 10, 2026
Our scenario range runs from 2,370 IDR (bear case) to 3,950 IDR (bull case); at 1,650 IDR, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 6% below its 52-week high and 14% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 42% fair-value upside, at 92%, BNGA screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 6 models by family
Widest divergence: Multiples (3,350 IDR) versus Asset-Based (1,603 IDR). Highest evidence: Residual Income (76).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 10, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 53 · Market factors (momentum, volatility) 60
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
PT Bank CIMB Niaga Tbk, together with its subsidiaries, provides various banking products and services in Indonesia and internationally.
Full company description
PT Bank CIMB Niaga Tbk, together with its subsidiaries, provides various banking products and services in Indonesia and internationally. The company offers saving, current, and time and term deposit products; Sharia and payroll savings products; credit and debit cards; mortgages and loans; distributes and supplies financing services; treasury products, such as foreign exchange, strike currency, bond and market-linked deposits, swap deposit, hedging instruments, and investment products; and mutual funds and endowment services. It also provides individual loans, such as mortgages, OCTO loan, joint financing, consumer loan products with cash and securities as collateral, and other loans; Sharia individual financing and indirect auto financing products; working capital, investment, and syndicated loans; Sharia hedging; bank notes and a range of bonds; and account receivable, account payable, pre-shipment, and supply chain financing. In addition, the company offers bank draft, special fund transfer, preferred collection, cash mobile and pick up, cash sweeping, and safe deposit box services; trustee and agency services, custodian services, factoring, and letter of credit; and electronic access facilities, including operation of automatic teller machine, and digital and mobile banking services. Further, it provides state treasury notes and government guarantee instruments; bancassurance products, such as Sharia based insurance products, life and health insurance, mortgage credit life insurance, personal loan credit life insurance, travel insurance, and credit protector insurance; and cash management, remittance, trade finance, and value chain services. The company was formerly known as PT Bank Niaga Tbk and changed its name to PT Bank CIMB Niaga Tbk in May 2008. The company was founded in 1955 and is headquartered in Jakarta, Indonesia. PT Bank CIMB Niaga Tbk is a subsidiary of CIMB Group Sdn. Bhd.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
PT Bank CIMB Niaga Tbk, reported revenue of 30.7T IDR in FY2025 versus 23.5T IDR in FY2021, a compound +6.9%/yr. Reported net income was 6.9T IDR in FY2025, compounding +13.8%/yr from FY2021.
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Peer Group
Banks - Regional · 1083 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Banks - Regional median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Banks - Regional stocks, each showing price versus our Fair Value estimate (as of Jul 10, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| PT Bank Central Asia Tbk BBCA | 6,175 IDR | 6,087 IDR | -1% |
| KB Financial Group 105560 | 184,400 KRW | 213,797 KRW | +16% |
| PT Bank Rakyat Indonesia (Persero) Tbk BBRI | 2,970 IDR | 4,891 IDR | +65% |
| PT Bank Mandiri (Persero) Tbk BMRI | 4,310 IDR | 7,841 IDR | +82% |
| Banco Bradesco S.A BBD | 5,120 ARS | 10,240 ARS | +100% |
| Shinhan Financial Group 055550 | 107,900 KRW | 137,259 KRW | +27% |
| Hana Financial Group 086790 | 136,800 KRW | 193,969 KRW | +42% |
| Lloyds Banking Group LYG | 4,138 ARS | 8,275 ARS | +100% |
| Banco de Chile, CHILE | 193.10 CLP | 152.55 CLP | -21% |
| Joint Stock Commercial Bank for Foreign Trade of Vietnam, VCB | 59,400 VND | 84,201 VND | +42% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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