PT Bank Central Asia Tbk, or commonly named as Bank Central Asia (BCA) is an Indonesian bank founded on August 10, 1955. In 2016 BCA overtook DBS Bank of Singapore as Southeast Asia's biggest lender by value, with a market capitalisation of US$24.5 billion (S$34.2 billion).
The Asian financial crisis in 1997 had a tremendous impact on Indonesia's entire banking system. In particular, it affected BCA's cash flow and even threatened its survival. Panic rush forced the bank to seek assistance from the Indonesian government. The Indonesian Bank Restructuring Agency took over control of the bank in 1998.Somehow full recovery was accomplished later in the same year. In December 1998, third-party funds were back at the pre-crisis level. BCA's assets stood at Rp 67.93 trillion, as opposed to Rp 53.36 trillion in December 1997. Public confidence in BCA was fully restored, and BCA was released by IBRA to BI in 2001
Subsequently, BCA took a major step by going public. The IPO took place in 2000, selling 22.55% of BCA's shares that were being divested by IBRA. After the IPO, the agency still controlled 70.3% of BCA's total shares. The second Public Offering took place in June and July 2001, with IBRA divesting an additional 10% of its interest in BCA. In 2002, IBRA divested 51% of its BCA shares through a strategic private placement tender. The Mauritius-based Farindo Investment won the tender. There is a BCA representative office in Singapore.
Logo BCA
Video Bank Central Asia
History
Trading Company and Industry Semarang Knitting Factory was the beginning of Bank Central Asia (BCA) in 1955. BCA started to operate since 21 February 1957 and had head office in Jakarta.
Around 1980, BCA broader its branch network aggressively along side with deregulation of the banking sector in Indonesia. BCA developed many products, services and information technology by applying online system for branch network and launched Tabungan Hari Depan (Tahapan) BCA. In 1990, BCA developed an alternative branch network through ATM (Automated Teller Machine). Around 1991, BCA placed 50units ATM in various places in Jakarta. The development of the ATM's networks and features were done intensively. BCA collaborated with a well-known institution, such as PT Telkom for phone bill payment through ATM BCA. BCA also collaborated with CitiBank so that BCA's customers, who held CityBank's credit card, can pay their bill through ATM BCA.
In 2002, Farindo Investment (Mauritius) Limited took over 51% of BCA's total shares through a strategic placement tender process. In 2004, BPPN divested 1,4% of BCA shares to domestic investors through limited offer and in 2005, the Government of Indonesia through PT Perusahaan Pengelolaan Aset (PPA) divested all of BCA's remaining 5.02% shares.
In the 2000s BCA strengthened and expanded its products and services, especially electronic banking by introducing Debit BCA, Tunai BCA, internet banking KlikBCA, mobile banking m-BCA, EDCBIZZ, and others. BCA established the Disaster Recovery Center facility in Singapore. BCA increased its competence in lending, including through expansion into car finance through its subsidiary, BCA Finance. In 2007, BCA became a pioneer in offering home mortgage products with fixed interest rates. BCA launched a prepaid card, Flazz Card and began offering Weekend Banking services to continue to build excellence in transaction banking. BCA is proactively managing lending and liquidity positions amid the turmoil of the global crisis, while still strengthening its core competencies as a transaction bank. In 2008 & 2009, BCA has completed the development of mirroring IT system to strengthen business continuity and minimize operational risk. BCA opens Solitaire services for high net-worth individual customers.
Maps Bank Central Asia
Board of Commissioners and Directors
* independent commissioner
References
External links
- BCA Official site
- KlikBCA Official site (in Indonesian)
- CNN coverage on sale of BCA to Farindo Investments
- BCA Logo Vector (in Indonesian)
Source of article : Wikipedia
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