BCA was officially established on February 21, 1957 as Bank Central Asia NV. Much has passed since its establishment, and perhaps most significant is the financial crisis that occurred in 1997.
This crisis brings a tremendous impact on the overall banking system in Indonesia. However, in particular, this condition affects the cash flow in the BCA and even threatened the rest. Many customers panic and withdraw funds to roll in them. As a result, banks are forced to ask for help from the government of Indonesia. Bank Restructuring Agency (IBRA) took over BCA in 1998.
Thanks to the wisdom of the business and making a wise decision, BCA successfully recovered in the same year. In December 1998, third-party funds have returned to pre-crisis levels. Assets reached Rp 67.93 trillion BCA, but in the month of December 1997 only Rp 53.36 trillion. Public confidence in BCA was fully restored, and BCA handed over by IBRA to Bank Indonesia in 2000.
Subsequently, BCA took a major step by becoming a public company. Stock Quote prime place in the year 2000, by selling shares of 22.55% is derived from the divestiture of IBRA. After the IPO, the IBRA still controls 70.30% of all shares of BCA. Offering shares to the two held in June and July 2001, with IBRA divesting 10% of his stake in BCA.
In 2002, IBRA took off 51% of its stake in BCA through a strategic private placement tender. Farindo Investment, Ltd.., Based in Mauritius, won the tender. Currently, the BCA continue to strengthen the tradition of good corporate governance, full compliance with regulations, good risk management and a commitment to both customers as well as transactional bank financial intermediary institutions.
PRODUCTS AND SERVICES
Along with BCA’s goal to become the first choice in transactional banking, they have continually worked to expand the range of products, services and channel conductor. They also have ensured that each of their superior products and services among...