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  • Indonesia’s Bank Central Asia Targets Digital Growth

    Indonesia’s Bank Central Asia Targets Digital Growth

    Banks are playing catch-up to technology players in one of the world’s largest unbanked markets.

    Bank Central Asia (BCA) is boosting its digital capabilities amid increased competition from tech players in the banking space, according to a report on Wednesday.

    Indonesia’s biggest lender by market value will be investing $200 million to help its month-old digital unit Blu to increase market share ahead of an initial public offering in two years’ time. Blu currently has about 110,000 customers.

    BCA is targeting a fourfold increase in its capital, to four trillion rupiah (S$376.5 million), and is focused on gaining more customers, partners and merchants on its digital platform before the IPO, BCA president director Jahja Setiaatmadja told the publication.

    The country has an unbanked market of 83 million people, or about one-third of the population, and while traditional players have found it tough to expand across the archipelago nation, technology players have an advantage in their ease of scaling operations to meet this demand.

    Indonesia-headquartered super-app Gojek increased its stake in Bank Jago in December 2020 as part of its bid to accelerate financial inclusion in Asia, while Singapore-based e-commerce and gaming company Sea, which recently won a licence to run a digital bank in Singapore, bought unlisted lender Bank Kesejahteraan Ekonomi in January.

  • Most SE Asia stocks fall in line with broader Asia; Indonesia climbs 1 pct

    Most SE Asia stocks fall in line with broader Asia; Indonesia climbs 1 pct

    Most Southeast Asian stock markets fell on Tuesday, tracking broader Asia after a selloff on Wall Street overnight. As reported, citing sources from both sides, that China’s top trade negotiator Liu He may visit Washington to prepare for the talks between U.S. President Donald Trump and his Chinese counterpart Xi Jinping on the sidelines of the G20 summit in Argentina later this month.

    Philippine shares declined 1.2 percent, extending falls into a third session, dragged by industrial and real estate stocks. SM Prime Holdings declined 2.3 percent, while JG Summit Holdings fell 6.9 percent.

    Singapore shares declined for a third consecutive session, dragged by financials. DBS Group Holdings, the city-state’s largest lender, slipped 0.9 percent, while rival United Overseas Bank Ltd fell 1.2 percent.

    Malaysian shares extended falls into a third session, with IOI Corp Bhd shedding 3.1 percent to a near 11-month closing low and IHH Healthcare Bhd declining 2.8 percent to its lowest close since July 2014.

    Trade tensions between the United States and China will create a “domino effect” and prompt other countries to turn protectionist, said Malaysian Prime Minister Mahathir Mohamad.

    Vietnam shares declined 1.4 percent, dragged by financial and real estate stocks. Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) fell 3.7 percent, while real estate investor Vingroup JSC ended 2.7 percent lower.

    Indonesian shares were the top gainers in Southeast Asia with a rise of 1 percent. Consumer staples and financials led the gains with United Tractors Tbk PT and Bank Central Asia Tbk PT rising 5.5 percent and 1.6 percent respectively.

    Thai shares climbed 0.3 percent, helped by consumer staples.

    Glass container manufacturer Berli Jucker PCL rose 1.4 percent, while convenience stores operator CP All PCL climbed 2.6 percent to a more than one-month closing high.

    “Stocks are rising on internal factors like government improving infrastructure and linking of our three airports,” said Teerada Charnyingyong, an analyst with Phillip Capital Thailand.”The government also announced measures to stimulate spending by promoting the tourism sector.”

  • BRI, BCA unveil new digital banking products for Indonesia

    BRI, BCA unveil new digital banking products for Indonesia

    In a bid to expand their customer base, state-owned lender Bank Rakyat Indonesia (BRI) and private lender Bank Central Asia (BCA) have invested in new digital banking products.

    BRI director Indra Utoyo said the new product was slated to launch before the end of the year. “Our new digital banking product will offer micro, retail and consumer loans,” Indra said last Thursday.

    He added that the product was expected to expand the lender’s customer base and beef up its micro, retail and consumer loan business.

    BRI’s new digital banking product would include the latest omni channel feature and biometric technologies, said Indra, adding that the bank had invested Rp 500 billion (US$ 34.83 million) to develop the new product.

    Meanwhile, BCA has unveiled its plans for a new digital banking product that promises simpler transactions on e-commerce platforms. The product is expected to launch in October.

    “The [digital banking] service will support transactions made through credit cards, debit cards and bank transfers,” said BCA financial director Vera Eve Lim on Monday, adding that the product would also offer support for financial settlements.

  • BCA Wins Gallup Great Workplace Award for Second Time

    BCA Wins Gallup Great Workplace Award for Second Time

    Qualified and trained human capitals is an important aspect for Bank Central Asia, also known as BCA, in maintaining competitive advantage and in supporting business strategy.

    BCA constantly strives to improve human capital through a range of effective development programs and quality staff recruitment. On that commitment, BCA has again been chosen to be the only company from Indonesia to be awarded the Gallup Great Workplace Award.

    The award was presented by Head of Consulting Gallup, South-East Asia Taek Lee to BCA’s Vice President Director Armand Hartono at Hotel Indonesia Kempinski, Jakarta. Also present at the award ceremony was BCA Director Lianawaty Suwono and Head of Human Capital Management Division of BCA Hendra Tanumihardja.

    “Convenience, safety, and reliability are BCA’s top priorities when providing financial services to all BCA customers. We are determined to continue to be a leader in the national banking industry that contributes greatly to the Indonesian economy. BCA recognizes that the priorities and all of these business strategies rely on the support of qualified employees. To that end, BCA will continue to improve the competence of human capitals through coaching, training, and learning, “Armand said on Saturday (7/22).

    The company provides continuous training and development programs, instills performance-based work culture, and actively provides career development opportunities for 25,073 employees by 2016.

    These development programs are balanced with BCA’s efforts to build work-life balances to improve employee productivity and effectiveness. The Gallup Great Workplace Award received by BCA today is an appreciation of BCA’s commitment.

    The Gallup Great Workplace Award is an award initiated by Gallup’s strategic consulting firm. This award is an appreciation of the companies that succeeded in building a positive and productive work environment, helping the company achieve the best performance.

    It is also a differentiator between the Gallup Great Workplace Award with other awards, namely this award sees the relationship between engagement with the achievement of business companies/organizations.

    “The Gallup Great Workplace Award appreciates the company’s commitment to building workplaces that give employees energy and enthusiasm to work every day. We recognize that high engagement not only produces stronger business results, but also improves the welfare of every employee and their family. Employee wellbeing is the company’s essential contribution, “said Taek Lee, Head of Consulting Gallup, South-East Asia.

    Of companies worldwide meeting the criteria, only about 8 percent of companies are awarded the Gallup Great Workplace Award.

    This year, The Gallup Great Workplace Award is followed by companies from more than 30 industries, most of which come from the banking and insurance industries.

    In 2017 alone only 37 companies that get this predicate. Globally, the level of engagement among award winners is 70 percent and the ratio of between employees engaged with actively disengaged is 14:1.

    To achieve this award, companies follow the Employee Engagement Survey with employees of at least 50 employees with an 80 percent response rate. Companies earning an average grade of at least 4.4 out of 5, are eligible to be nominated for this award.

    Since its inception in 2007, BCA became the first indigenous Indonesian company to achieve GGWA in 2015 and maintain that achievement in 2017. BCA managed to get a response rate of 97 percent in Team Engagement Survey which is higher than the minimum response rate of 80 percent.

    BCA also managed to get the Team Engagement Survey score of 4.66, which is also higher than the minimum requirement of 4.4. In addition, the various Team Engagement programs conducted by the company helped boost business performance which is also one of the indicators of BCA’s victory.

    Various efforts were made by BCA to maintain a positive work environment. BCA will continue to refine human resource development programs in line with the development of the business environment and the needs of BCA.

    BCA will closely monitor the needs of human resources and continue recruitment and development efforts to prepare future generations of leaders as part of effective succession planning. BCA also consistently develops and introduces employee value proposition which is BCA’s values that emphasizes the principle of continuous improvement and friendly environment.

    “Investment in technology and infrastructure ensures BCA is able to provide reliable services through multi-channel network sharing while improving efficiency in various aspects of the business. Human capital investments are primarily in professional development and training programs, encouraging staff to work effectively and enabling BCA to provide customer service of the highest quality, “said Armand.

  • Indonesia’s BCA posts record annual profit, buoyed by tax amnesty

    Indonesia’s BCA posts record annual profit, buoyed by tax amnesty

    Bank Central Asia (BCA) on Monday reported an all-time high annual net profit, as Indonesia’s key tax amnesty programme helped to lower cost of funds for the country’s biggest lender by market value.

    BCA posted a 2016 net profit of 20.6 trillion rupiah (S$2.17 billion), up 14.4 per cent from a year ago. This was a record high and also slightly above an average estimate of 20.0 trillion rupiah from 21 analysts.

    Indonesia’s tax amnesty scheme, launched last July and aimed at bringing back billions of dollars stashed abroad by citizens, boosted the funds at BCA’s current accounts and saving accounts (CASA) in the second half of 2016, the bank said in a statement.

    “Tax amnesty funds were parked at CASA,” BCA President Director Jahja Setiaatmadja told reporters. “What’s positive is that our cost of funds is low because our interest rate is low.”

    However, some of those funds were only “transitioning” at BCA and would likely be placed eventually in assets including property and government bonds, Mr Setiaatmadja said.

    At the end of 2016, BCA’s gross non-performing loans (NPL) stood at 1.3 per cent, one of the lowest in Indonesia’s banking sector.

    BCA’s rival, Bank Mandiri, last month reported its lowest annual net profit in five years due to an increase in provisions. Mandiri’s gross NPL of 4.0 per cent was the highest since 2008.

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