The largest private bank in Indonesia, (stellar-bca.digital) Issuser Address: GDOEKTDS3PVPRZWY57UG3Y5DFER75DFAXFLHBIRFZ2GPEY6BA4CVXYSJ ICO On 24/10/2023 CB:10,000%
Project Aurora & Ukaz asset
Bank Central Asia (BCA) is an Indonesian bank founded on 21 February 1957. Bank Central Asia is the largest private bank in Indonesia
BCA was founded by Salim Group, Indonesia's biggest conglomerate, but after the 1997 financial crisis and subsequent riots, it fell into massive debt, became a Bank Take Over (BTO), and was placed under the recapitalization and restructuring program operated by the Indonesian Bank Restructuring Agency, who later sold it to Djarum, another conglomerate
In 2014–2016, BCA developed MyBCA, a self-service digital banking outlet, expanded cash recycling machine-based ATM networks, and launched the Sakuku e-wallet. Since then, they have continuously developed various payment methods for online transactions, such as in 2018, when BCA launched a "P2P transfer feature using QR code technology" for MyBCA and Sakuku. That P2P transfer mechanism is known as the Stellar blockchain
A Euromoney article came out in 2017 (https://www.euromoney.com/article/b15j1f4z3yk324/bank-central-asia-the-best-bank-youve-probably-never-heard-of) titled, "Bank Central Asia: The best bank you’ve (probably) never heard of" and described BCA as being ?️loved by analysts and fund managers, with impeccable ratios and a market cap that sometimes trumps DBS as the largest in Asean, yet it is determinedly domestic and focused on its native Indonesia – meet Bank Central Asia. The share price is up over 800% since February 2009. Yet it is still rated a buy by brokers from Nomura to DBS. Big names on the shareholder register include Vanguard, T Rowe Price, BlackRock, Fidelity and Aberdeen?️
BCA acquired 100% equity (both directly and indirectly) of PT Bank Royal Indonesia in 2019 in order to begin the process of transforming Bank Royal, as well as itself, into a digital bank
As of September 2023, BCA has reported significant improvements in its restructured credit portfolio. (https://www.msn.com/en-xl/news/other/pt-bank-central-asia-tbk-reports-strong-q3-2023-credit-growth/ar-AA1ixWkM) The loan at risk ratio, a significant indicator of asset quality, declined to 7.6% in the first nine months of 2023. This improvement suggests that the bank's customers are maintaining good credit health, reducing the potential risk of default for the bank
BCA's credit growth was observed in almost all segments:
- SME segment saw the highest at +16.4% YOY ($6.6 billion USD)
- corporate credit segment +12.2% YoY ($21.6 billion USD)
- commercial credit +6.5% YoY ($7.6 billion USD)
Recent higher yields on Indonesian Government bonds, which puts pressure on the Indonesian Rupiah, has resulted in Bank Indonesia issuing a new "Rupiah-denominated instrument to defend currency stability". This "instrument" is better known as a CBDC or Digital Rupiah, which the central bank has been working on under codename “ (https://fintechnews.sg/67496/indonesia/indonesia-soaring-into-cbdc-realm-with-digital-rupiah/)Project Garuda (https://fintechnews.sg/67496/indonesia/indonesia-soaring-into-cbdc-realm-with-digital-rupiah/),” (https://fintechnews.sg/67496/indonesia/indonesia-soaring-into-cbdc-realm-with-digital-rupiah/) after Indonesia’s legendary bird. Bank Indonesia also participates in BIS projects, including Project Dunbar and Project mBridge. Ergo, by adopting and utilizing the Digital Rupiah and Stellar, BCA has been able to show outstanding YOY results since they began their digitization strategy
Link for White Paper and Consultative Paper for Digital Rupiah (https://www.bi.go.id/en/rupiah/digital-rupiah/default.aspx)
Stellar Humanitarian Wealth Transfer:
? Passive Income Assets (https://t.me/QuantumStellarInitiative/22968)
? Project Aurora & Ukaz (https://t.me/QuantumStellarInitiative/21777)