Four Digital Bank Stock Prices Plummet: Check Their Performance

Several small banks have transformed into digital banks to reach a wider customer base. High investor expectations surrounding this transformation led to a surge in digital bank share prices, but this wasn't supported by financial performance.

As a result, the share prices of four digital banks plummeted in 2022. One bank, however, saw its share price increase from the beginning of January to May 17, 2022.

PT Bank Jago Tbk (ARTO) closed at Rp8,400 per share at the close of trading on Tuesday (May 17, 2022). This price represents a 52.5% drop year-to-date (YTD) compared to the price of Rp16,000 per share on December 30, 2021. This decline was the steepest among other digital bank stocks.

Meanwhile, PT Bank Neo Commerce Tbk (BBYB) shares also plunged 51.52% (YTD) to Rp1,275 per share by Tuesday (May 17, 2022). PT Bank Raya Indonesia Tbk (AGRO) fell 49.45% (YTD) to Rp915 per share (YTD), and PT Bank Aladin Syariah (BANK) shares also corrected by 32.07% (YTD) to Rp1,555 per share.

In contrast, PT Allo Bank Indonesia Tbk (BBHI) share prices saw a 33.91% increase, reaching Rp5,300 per share.

The following are the assets of the five digital banks:

* Bank Jago: Rp12.83 trillion as of March 2022
* Bank Neo Commerce: Rp12.53 trillion as of March 2022
* Bank Raya Indonesia: Rp16.87 trillion as of December 2021
* Bank Aladin Syariah: Rp2.17 trillion as of December 2021
* Allo Bank: Rp9.42 trillion as of March 2022

The following are the profits/losses of the five digital banks:

* Bank Jago: Rp18.57 billion as of March 2022
* Bank Neo Commerce: Rp416.733 billion as of March 2022
* Bank Raya Indonesia: Rp(3,069.93) billion as of December 2021
* Bank Aladin Syariah: Rp(131.22) billion as of December 2021
* Allo Bank: Rp75.01 billion as of March 2022