#I BANKING BCA LICENSE#

In 2000, IBRA divested 22.5% of its BCA shares through an initial public offering, reducing its ownership of BCA to 70.3%. In 1999, BCA was fully recapitalized with the Government of Indonesia, through IBRA, assuming ownership of 92.8% of BCA shares in exchange for liquidity support from Bank Indonesia and a swap of related-party loans for Government Bonds In 1998 BCA became a Bank Take Over (BTO) and was placed under the recapitalization and restructuring program operated by the Indonesian Bank Restructuring Agency (IBRA), a Government Institution. BCA works with well-known institutions, such as PT Telkom and Citibank, allowing BCA's customers to pay their Telkom phone bill or Citibank credit card bill through BCA ATMs.Д«CA experienced a panic selling during the 1997 Asian financial crisis. BCA intensively develops the ATM network and features. In 1991, BCA installed 50 ATM units in various locations in Jakarta. In 1990, BCA developed the Automated Teller Machine (ATM) network as an alternative delivery channel. BCA developed its information technology capacity, by establishing an online system for its branch office network, and launches new products and services including the Tahapan BCA savings accounts product.

#I BANKING BCA LICENSE#

BCA strengthens its delivery channels and obtained a license to open as a Foreign Exchange Bank in 1977.ДЄround 1980, BCA aggressively expanded its branch network in line with deregulation of the Indonesian banking sector. Д«ank Central Asia began in 1955, founded as вЂњNV Perseroan Dagang Dan Industrie Semarang Knitting Factory.' BCA commenced operations on 21 February 1957 with Head Office located in Jakarta.Д®ffective on 2 September 1975 the name of the Bank was changed to PT Bank Central Asia (BCA). There is a BCA representative office in Singapore. The Mauritius-based Farindo Investment won the tender. In 2002, IBRA divested 51% of its BCA shares through a strategic private placement tender. The second public offering took place in June and July 2001, with IBRA divesting an additional 10% of its interest in BCA. After the IPO, the agency still controlled 70.3% of BCA's total shares. The IPO took place in 2000, selling 22.55% of BCA's shares that were being divested by IBRA. Subsequently, BCA took a major step by going public. Public confidence in BCA was fully restored, and BCA was released by IBRA to BI in 2001. BCA's assets stood at Rp 67.93В trillion, as opposed to Rp 53.36В trillion in December 1997. In December 1998, third-party funds were back at the pre-crisis level. Full recovery was accomplished later in the same year. The Indonesian Bank Restructuring Agency took over control of the bank in 1998. A bank rush forced BCA to seek assistance from the Indonesian government. In particular, it affected BCA's cash flow and even threatened its survival. The Asian financial crisis in 1997 had a tremendous impact on Indonesia's entire banking system. It is considered as the largest privately-owned bank in Indonesia. PT Bank Central Asia Tbk, commonly known as Bank Central Asia ( BCA) is an Indonesian bank founded on 21 February 1957.

I banking bca