Embark on a journey of knowledge! Take the quiz and earn valuable credits.
Challenge yourself and boost your learning! Start the quiz now to earn credits.
Unlock your potential! Begin the quiz, answer questions, and accumulate credits along the way.
What is Bank Central Asia mean?
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.
referencePosted on 10 Nov 2024, this text provides information on Miscellaneous in Business related to Business. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
Turn Your Knowledge into Earnings.
Ever curious about what that abbreviation stands for? fullforms has got them all listed out for you to explore. Simply,Choose a subject/topic and get started on a self-paced learning journey in a world of fullforms.
Write Your Comments or Explanations to Help Others