DBS Indonesia, BCA Dismiss Merger Rumours Amid Share Surge
Bank Central Asia (BCA) shares climbed 7.65 percent on 28 October as social media spread unconfirmed reports of a share exchange with DBS Indonesia.
Banks Refute Merger Claims
DBS Indonesia and Bank Central Asia (BCA) have refuted recent market rumours concerning a potential merger between the two lenders. Speculation, which circulated on Indonesian social media, coincided with a notable rise in BCA's share price. On 28 October, BCA's stock gained 7.65 percent, closing at Rp5,275 amidst the unconfirmed reports.
Details of Market Speculation
The market chatter described a transaction where DBS Indonesia's shareholders would exchange their holdings for newly issued BCA shares. Under this scenario, BCA would emerge as the sole surviving entity. The extent to which these unverified social media posts directly influenced BCA's share rally remains unclear, according to market observers.
Official Denials and Ownership Structure
Mona Monika, Head of Group Marketing and Communications at DBS Indonesia, explicitly denied the merger claims. Similarly, BCA's President Commissioner, Jahja Setiaatmadja, also rejected the speculation, as reported by Indonesian media.
DBS Bank holds a 99 percent stake in its Indonesian subsidiary, DBS Indonesia, with BCA owning the remaining 1 percent, based on DBS Indonesia’s 2025 annual report.
The swift and categorical denials from both banking groups aim to stabilise market sentiment and dispel any uncertainty that could affect investor confidence.
For investors monitoring Indonesia's financial sector, these statements clarify the absence of immediate merger activity between two significant players, allowing focus to return to their individual operational performance and strategic growth plans.
This article is journalism, not investment advice; consult a licensed professional before making financial decisions. Market data is indicative, may be delayed, and should be verified with your broker or exchange before use.
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