Flooring Guide by Cinvex – , JAKARTA — A proposal for a forced takeover of shares in PT Bank Central Asia Tbk. (BBCA), or BCA, emanating from political circles, is being deemed perilous. Experts warn that such a move risks undermining the nation’s financial system and eroding crucial investor confidence.
Didik J. Rachbini, an economist and Rector of Paramadina University, has strongly criticized the “hostile takeover” idea, branding it as irrational. He asserts that it could severely damage Indonesia’s national banking system, which has undergone extensive and successful transformation through a long restructuring process.
“The banking sector has, in fact, transformed quite robustly. This is a direct result of the financial and banking system policies implemented post-reform,” Didik stated in a written release on Saturday (August 23, 2025).
Didik drew a stark comparison to the 1998 crisis, which devastated the national banking sector. He highlighted that following meticulous restructuring, the national banking system has become significantly more resilient, capable of weathering both economic crises and the unprecedented challenges of the Covid-19 pandemic.
In light of the banking sector’s increasing solidity, Didik deemed the suggestion of a state takeover of BCA as completely unwarranted. He warned that such a radical idea would inevitably cause market trust in BCA to collapse.
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“If this were to happen, market confidence would plummet. BCA shares are trusted by the public due to the bank’s excellent management and its absolute commitment to transparency, as it is a public bank,” Didik elaborated.
He further added that the performance of both BCA and the Association of State-Owned Banks (Himbara) should be recognized as pivotal achievements in supporting the national economy. Their substantial contributions are evident in consistent credit growth, significant stimulus for businesses, and substantial tax payments.
Meanwhile, in earlier reports by Bisnis, Rosan Perkasa Roeslani, Chief Executive Officer (CEO) of Danantara Indonesia, firmly refuted claims regarding his investment management firm’s acquisition of a majority stake in BCA.
Rosan, who also serves as the Minister of Investment and Downstreaming/Head of the Investment Coordinating Board (BKPM), definitively confirmed that Danantara currently has no plans to take over control of BCA.
“There is no such agenda,” he stated succinctly after attending a closed-door meeting with DPR Commission XI at the Parliament Complex in Senayan, Jakarta, on Tuesday (August 19, 2025).
When pressed for confirmation regarding any potential preliminary discussions on the matter, Rosan chose not to comment further, promptly departing from reporters.
Previously, rumors circulated suggesting that the state, through Danantara, should acquire BCA shares. These rumors were linked to the Bank Indonesia Liquidity Assistance (BLBI) scandal during the 1998 Monetary Crisis.
At that time, BCA received BLBI funds after facing a bank run, a situation that subsequently led to a divestment process which some parties considered highly problematic.
Tommy Kurniawan, a member of DPR RI Commission IX from the PKB Faction, urged all parties to refrain from making statements that only incite uproar and exacerbate the investment climate amidst prevailing global uncertainties.
“The investment climate is currently robust despite a globally uncertain situation. Therefore, it is our duty to protect it, and there should be no statements that cause disturbance, especially concerning the banking sector,” Tommy emphasized.
On the Indonesia Stock Exchange (IDX), BBCA shares are presently trading at Rp8,450 per share. This price reflects a 12.66% weakening since the beginning of the year (year-to-date) and a 3.70% correction over the past week.
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Summary
A proposal for a forced takeover of PT Bank Central Asia Tbk. (BCA) shares, emanating from political circles, is deemed perilous by experts. Economist Didik J. Rachbini strongly criticizes this “hostile takeover” idea, warning it could severely damage Indonesia’s national banking system and erode crucial investor confidence. He highlights the banking sector’s resilience post-1998 crisis and BCA’s transparent management as reasons for public trust.
However, Rosan Perkasa Roeslani, CEO of Danantara Indonesia and Investment Minister, firmly refuted claims about his firm acquiring a majority stake in BCA, stating “there is no such agenda.” Rumors linking a state acquisition to the 1998 BLBI scandal had circulated. A DPR member also urged against disruptive statements that could harm the robust investment climate amid global uncertainties.