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1955;69years ago(1955) (as NV Perseroan Dagang Dan Industrie Semarang Knitting Factory) 21 February 1957;67 years ago(21 February 1957) (as PT Bank Central Asia Tbk)
President Commissioner: Djohan Emir Setijoso President Director: Jahja Setiaatmadja Deputy President Director: Suwignyo Budiman Deputy President Director: Armand Wahyudi Hartono SME Account Officer: Felix Limminata
PT Bank Central Asia Tbk, commonly known as Bank Central Asia (BCA) is an Indonesian bank founded on 21 February 1957. Bank Central Asia is the largest private bank in Indonesia with an asset of Rp 1.029,83 trillion (USD 68,5 billion) as of 2022.[2] It is headquarters at BCA Tower in Jakarta.
Bank Central Asia (BCA) was founded by Salim Group as “NV Perseroan Dagang Dan Industrie Semarang Knitting Factory". Originally the bank started small however it was expanded by banker and conglomerate Mochtar Riady who took control of the bank.[3] Bank Central Asia expanded rapidly during the 1980s and 90s, BCA works with well-known institutions, such as PT Telkom , Citibank, and American Express. The bank was hit hard during the 1997 financial crisis and the subsequent 1998 May Riot. It was in massive debt and as a result it was took over by the Indonesian Bank Restructuring Agency and sold to another conglomerate group Djarum.[4]
Since then BCA has thrived and subsequently, BCA took a major step by going public in the 2000. In 2022, Bank Central Asia was awarded to be the "Best Bank in Indonesia" by Forbes.[5]
History
Bank Central Asia's beginnings began in 1955, founded as “NV Perseroan Dagang Dan Industrie Semarang Knitting Factory" by businessman Sudono Salim (Lim Sioe Liong). BCA commenced operations on 21 February 1957 with Head Office located in Jakarta.[citation needed]
Effective on 2 September 1975 the name of the Bank was changed to PT Bank Central Asia (BCA). BCA strengthens its delivery channels and obtained a license to open as a Foreign Exchange Bank in 1977.[citation needed]
Around 1980, BCA aggressively expanded its branch network in line with deregulation of the Indonesian banking sector. BCA developed its information technology capacity, by establishing an online system for its branch office network, and launches new products and services including the Tahapan BCA savings accounts product.[citation needed]
In 1990, BCA developed the Automated Teller Machine (ATM) network as an alternative delivery channel. In 1991, BCA installed 50 ATM units in various locations in Jakarta. BCA intensively develops the ATM network and features. BCA works with well-known institutions, such as PT Telkom and Citibank, allowing BCA's customers to pay their Telkom phone bill or Citibank credit card bill through BCA ATMs.[citation needed]
BCA experienced a panic selling during the 1997 Asian financial crisis. In 1998 BCA became a Bank Take Over (BTO) and was placed under the recapitalization and restructuring program operated by the Indonesian Bank Restructuring Agency (IBRA), a Government Institution.[citation needed]
In 1999, BCA was fully recapitalized with the Government of Indonesia, through IBRA, assuming ownership of 92.8% of BCA shares in exchange for liquidity support from Bank Indonesia and a swap of related-party loans for Government Bonds.[citation needed]
In 2000, IBRA divested 22.5% of its BCA shares through an initial public offering, reducing its ownership of BCA to 70.3%. In 2001, in a Secondary Public Offering, 10% of BCA's total shares were made available to the market. IBRA's ownership of BCA decreased to 60.3%. In 2002, Farindo Investment (Mauritius) Limited acquired 51% of BCA's shares through a strategic private placement. In 2004, IBRA divested 1,4% of BCA shares to domestic investors through a private placement. In 2005, the Government of Indonesia through PT Perusahaan Pengelolaan Aset (PPA), the remaining 5.02% of its BCA shares and no longer has share ownership in BCA.[citation needed]
BCA strengthens and develops its products and services, especially in electronic banking, by launching Debit BCA, Tunai BCA, KlikBCA internet banking, m-BCA mobile banking, and EDCBIZZ.
In 2007, BCA became a pioneer in introducing fixed-rate mortgage products. BCA launches its stored-value card, Flazz Card, and introduced Weekend Banking to maintain its transaction banking leadership.
In 2010–2013, BCA entered new lines of business including Sharia banking, motorcycle financing, general insurance and the capital markets business. In 2013, BCA increased its effective ownership from 25% to 100% in its general insurance arm PT Asuransi Umum BCA (formerly PT Central Sejahtera Insurance and also known as BCA Insurance).
In 2014–2016, BCA developed MyBCA, a self-service digital banking outlet; expanded cash recycling machine-based ATM networks; and launched the Sakuku app-based electronic wallet. BCA continued developing various methods of payment for online transactions. In 2018 BCA launched a peer-to-peer transfer feature using QR code technology, applicable on m-BCA and Sakuku.
BCA completed a 100% share acquisition (directly and indirectly) of PT Bank Royal Indonesia in October 2019. Post-acquisition, Bank Royal's business model will transform into a digital-based bank, complementing BCA's established digital channels.[6]
PT Bank Mandiri (Persero) Tbk or Bank Mandiri, headquartered in Jakarta, is the largest bank in Indonesia in terms of assets, loans and deposits. Total assets as of 2022, were 1.992 Trillion rupiah. As of 2022, Bank Mandiri is the largest bank in Indonesia by total assets.
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk officially shortened into PT Telkom Indonesia (Persero) Tbk, also simply known as Telkom, is an Indonesian multinational telecommunications conglomerate with its corporate headquarters in Bandung and its operational headquarters in the Telkom Landmark Complex in Jakarta. Telkom is listed on the Indonesia Stock Exchange and has a secondary listing on the New York Stock Exchange. The government of Indonesia owns over half of Telkom's shares outstanding.
Oversea-Chinese Banking Corporation, Limited, abbreviated as OCBC, is a Singaporean multinational banking and financial services corporation headquartered at the OCBC Centre.
James Tjahaja Riady is an Indonesian businessman and the deputy chairman of the Lippo Group, a major Indonesian conglomerate. One of the most prominent Chinese Indonesian businessmen, he is the son of Mochtar Riady, who founded Lippo Group. Lippo ceded its control of Lippo Bank to Khazanah of Malaysia in 2005. Since his conversion to evangelical Christianity, James is now focusing on the study of theology.
BDO Unibank, Inc., commonly known as Banco de Oro (BDO), is a Philippine banking company based in Mandaluyong, the Philippines. BDO Unibank is a member of the SM Group and so can be found at SM Malls throughout the country.
Bank Indonesia (BI) is the central bank of the Republic of Indonesia. It replaced in 1953 the Bank of Java, which had been created in 1828 to serve the financial needs of the Dutch East Indies.
The Salim Group is Indonesia's biggest conglomerate and refers to companies where the Salim family held majority ownership. Its assets include Indofood Sukses Makmur, the world's largest instant noodle producer; Indomobil Group, one of Indonesia's largest car manufacturers; Indomaret, Indonesia's largest convenience store chain; and Bogasari, a large flour-milling operation. The group was founded in October 1972 by Sudono Salim and his junior partner Sutanto Djuhar. The current CEO is Anthoni Salim, a son of Sudono Salim.
PT Telekomunikasi Selular is an Indonesian telecommunications company founded in 1995. Its ownership is divided between Telkom Indonesia (69.9%) and Singtel (30.1%), which serves as Telkom's consumer services arm starting 1 July 2023 by its management takeover of IndiHome. It is headquartered alongside Telkom in the Telkom Landmark Complex.
PT Indonusa Telemedia, operating under the brand name Transvision, is a subscription-based direct broadcast satellite service provider in Indonesia. It is primarily owned by Trans Media, a subsidiary of CT Corp.
PT Djarum is an Indonesian kretek brand/manufacturer founded on 21 April 1951 by Oei Wie Gwan in Kudus, Central Java. It produces dozens of domestic and international brands. Djarum Black, Super and L.A. Lights are among the most popular products of Djarum. The company owns the PB Djarum, a professional badminton club, the Italian football club Como 1907, and is the main sponsor of Liga 1, Indonesia's top football league from 2005 to 2011. Under its direct parent PT Dwimuria Investama Andalan, it has non-cigarette business lines in technology, banking and beverages.
PRIMA is one of the interbank networks in Indonesia. PRIMA is owned by PT Rintis Sejahtera. PT Rintis Sejahtera is a Satellite Communication services provider that transmitting digital information within the region and around the world. Before the creation of ATM PRIMA, this network was known as ATM BCA network that worked as the ATM network for Bank Central Asia.
ALTO is an interbank network in Indonesia. It was founded in August 1993.
PT Bank CIMB Niaga Tbk is Indonesia's sixth largest bank by assets, established in 1955. CIMB Niaga, which is majority-owned by CIMB Group, is the largest payment bank in terms of transaction value under the Indonesian Central Securities Depository. With 11% of market share, CIMB Niaga is the third largest mortgage provider in Indonesia.
PT Bank Maybank Indonesia Tbk, formerly known as Bank Internasional Indonesia (BII) is one of private banks in Indonesia which also is a part of Maybank, one of the largest financial services groups in ASEAN.
Permata Bank is a bank in Indonesia, headquartered in the capital city Jakarta. It has officially become a BUKU IV bank after receiving confirmation from the Financial Services Authority (OJK) on 20th January 2021. Serving nearly four million customers in 62 cities of Indonesia, it has 304 branch offices and two mobile branches. Currently, the bank is led by Meliza Musa Rusli as the CEO.
PT Telekomunikasi Indonesia International or Telkom International, and commonly abbreviated as Telin, is an Indonesian carrier services and investment company and is a wholly owned subsidiary of Telkom Indonesia. It is an international telecommunication business serves as Telkom's business arms in managing and developing its business lines outside Indonesia.
PT Bank JTrust Indonesia Tbk is an Indonesian bank founded in 2015. The bank is based in Jakarta.
In Indonesia, state-owned enterprises play an important role in the national economy. Their roles includes contributor for national economy growth, providing goods or services which are not covered by private company, employment provider, providing support guidance to small and medium businesses, and source of government revenue. The Ministry of State Owned Enterprises represents the government's function as a shareholder of most of those companies, while some are represented by the Ministry of Finance.
The Bank Bali scandal occurred in Indonesia in 1999 when Golkar Party officials colluded with the Indonesian Bank Restructuring Agency (IBRA) to coerce Bank Bali chief Rudy Ramli to pay an illegal commission of Rp546 billion to private company Era Giat Prima in order to collect Rp904.6 billion owed by two banks taken over by IBRA.
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