Jakarta, July 1, 2024 - Two subsidiaries of PT Bank Central Asia Tbk (BCA), PT BCA Finance (BCA Finance/BCAF) and PT BCA Multi Finance (BCA Multi Finance/BCAMF), plan to merge in order to strengthen the automotive financing business. Post-merger, BCA Finance will become the surviving entity.
The merger of BCA Multi Finance into BCA Finance has been approved by the Financial Services Authority (OJK). Furthermore, BCA Finance and BCA Multi Finance will hold a General Meeting of Shareholders (GMS) to obtain approval from each shareholder. After the merger becomes effective, all rights and obligations of BCA Multi Finance will be fully transferred to BCA Finance.
Both companies are engaged in the same field, namely the multifinance industry, but currently BCA Finance focuses on four-wheeled financing, while BCA Multi Finance prioritizes two-wheeled financing. The planned merger will combine the two under one roof.
BCA President Director Jahja Setiaatmadja said, "BCA Group sees promising long-term growth potential in the automotive financing market. This merger will bring together the best potential of BCA's financing services, which we hope will result in a new entity that is more robust, superior, efficient and effective. BCA Multi Finance's motorcycle financing business line will remain present in the market and become part of BCA Finance."
The merger of the two subsidiaries is in line with the BCA Group's commitment to serving customers in various automotive financing segments. The merger of the two entities is expected to further improve service performance and the quality of financing to consumers.
BCA Finance will conduct a comprehensive integration by taking into account all stakeholders including consumers, creditors, business partners, employees and shareholders. As part of the BCA Group ecosystem, both BCA Finance and BCA Multi Finance will ensure that employee rights are fulfilled in accordance with applicable laws and regulations. The employment relationship of BCA Multi Finance employees will transition to BCA Finance.
After the merger becomes effective, all BCA Multi Finance customers will switch to BCA Finance customers. Former BCA Multi Finance customers will receive all facilities, benefits and product features of BCA Finance. There will be no changes in services or benefits after the merger. All BCA Multi Finance customers can still make installment payments and collect documents at BCA Multi Finance branch offices, which will change their name to BCA Finance.
Currently, BCA Multi Finance customers can still contact BCA Multi Finance offices as usual. However, after the merger is effective, BCA Multi Finance customers who wish to obtain information about motor vehicle loans, installment payments, collateral document collection, and/or other financing services/facilities can access official information through the website https://www.bcafinance.co.id. Other information can also be obtained through BCAF telephone 1500888, WA Astari 0811 102 7780, email customercarebcaf@bcaf.id, and FinA Mobile at https://bit.ly/FINAbcafinanceapp.
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About PT Bank Central Asia Tbk (As of 31 March 2024)
BCA is one of the leading commercial banks in Indonesia with the core business of transaction banking. BCA also offers a full range of financial services in consumer, SME, commercial and corporate segments. By the end of March 2024, BCA has the privilege of serving more than 38 million customer accounts, processing around 90 million of daily transactions through a network of 1,258 branches, 19,055 ATMs as well as internet & mobile banking services and Halo BCA contact center that can be accessed 24 hours. BCA’s presence is complemented by a number of subsidiaries focusing on vehicle financing, sharia banking, securities, general and life insurance, digital bank, remittance as well as venture capital business. BCA is committed to building lasting relationships with customers, putting people first, and making a positive impact on society at large. With around 27,000 employees, BCA's vision is to be the bank of choice and a major pillar of the Indonesia economy.
PT BANK CENTRAL ASIA TBK
Group Corporate Communication and Social Responsibility - CSR
Corporate Communication
Address : Jl. MH Thamrin No. 1
Menara BCA Lt. 22
Jakarta Pusat 10310
Telephone : (021) 2358-8000
Fax : (021) 2358-8339
E-mail : corcom_bca@bca.co.id
