Bank Central Asia

Bank Central Asia

company_name = Bank Central Asia, Tbk.
company_type = Financial Services/Public idx|BBCA
foundation = Sudono Salim (1955)
location = flagicon|Indonesia Jakarta, Indonesia
key_people = flagicon|Indonesia Djohan Emir Setijoso, CEO
shareholders = UOB Kay Hian
revenue = profit Rp 12,823.46 billion (Q3 2006)Fact|date=June 2008
net_income = profit Rp 3,121.47 billion (Q3 2006)Fact|date=June 2008
homepage = []

Bank Central Asia (BCA) is an Indonesian bank founded on August 10 1955.

The Asian monetary 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 Banking Restructuring Agency (IBRA) took over control of the bank in 1998.

Thanks to its management’s business sagacity and shrewd decision making, 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 2000. 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 of 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.


External links

* [ Official site]
* [ CNN coverage on sale of BCA to Farindo Investments]

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