BCA meaning in Business ?

PT Bank Central Asia Tbk, commonly known as Bank Central Asia (BCA) is an Indonesian bank founded on 21 February 1957. It is considered as the largest privately-owned bank in Indonesia.

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. A bank rush forced BCA to seek assistance from the Indonesian government. The Indonesian Bank Restructuring Agency took over control of the bank in 1998. 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.