BANK CENTRAL ASIA

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

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



Key BCA: A vasco keypad as used by Bank Central Asia.
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.

rear of a KeyBCA keypad issued by Vasco.
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.

BCA officially founded on 21 February 1957 with name Bank Central Asia NV. Lots of things has traversed since the bank was founded, and perhaps the most significant is the monetary crisis that occurred in 1997.

The crisis brings a tremendous impact at overall banking system in Indonesia. However, specifically, this condition affects cash flow in BCA and even had threatened the continuation. Many client panic and then abuzz withdrawn their cash. As a result, the bank forced ask for help from Indonesian government. Indonesian Bank Restructuring Agency (BPPN) then take over BCA in 1998.


Thanks to wise business and decision-making, BCA successfully recovered in the same year. In December 1998, fund from was returned to the point before crisis. BCA's asset reached Rp 67.93 trillion, whereas in December 1997 only Rp 53.36 trillion. Public confidence to BCA have fully recovered, and BCA submitted by BPPN to Bank Indonesia in 2000.