Bank Central Asia
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 Bank Restructuring Agency took over control of the bank in 1998.
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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 2nd 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. |
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 Many client panic and then abuzz withdrawn their cash.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. And then Indonesian Bank Restructuring Agency 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.
Related Sites for Bank Central Asia
- Meet Mickey & Friends read Bank Central Asia
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- Bank Central Asia - Wikipedia bahasa Indonesia, ensiklopedia bebas read Bank Central Asia
- Internet Banking - KlikBCA read Bank Central Asia
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