BBCA Under Pressure as Haji Isam Takeover Rumour Returns to the Spotlight

Shares in PT Bank Central Asia Tbk (BBCA) came under pressure in trading on Monday, 19 October 2026, amid turmoil in Indonesia’s capital market. At the same time, rumours of a plan by South Kalimantan conglomerate Andi Syamsuddin Arsyad, known as Haji Isam, to acquire BCA returned to the spotlight after the Financial Services Authority (OJK) commented on its oversight of changes in bank ownership and control.

Trading data shown at 10.13am Western Indonesian Time (WIB) on Monday put BBCA shares at Rp4,820, down Rp355, or 6.86 per cent, from the previous close of Rp5,175.

BBCA opened at Rp4,820. The shares briefly reached a high of Rp4,910 and a low of Rp4,820, according to the data displayed.

BBCA’s decline came as the Jakarta Composite Index (IHSG) also faced heavy pressure. At the market opening on Monday, the IHSG fell 223.23 points, or 4.31 per cent, to 4,961.88. The LQ45 index dropped 5.52 per cent to 480.50.

The movements put BBCA shares in the spotlight among investors amid volatility in the domestic stock market. However, the price data do not in themselves prove that the decline was caused by the Haji Isam takeover rumour.

OJK says changes in bank control require an assessment

OJK Chief Executive for Banking Supervision Dian Ediana Rae said the authority was continuing to monitor developments involving share ownership structures and control in the national banking industry.

Dian said that if a transaction could potentially change a bank’s controlling shareholder, OJK would conduct an assessment in accordance with applicable laws and regulations.

“If a transaction could potentially result in a change of a bank’s controlling shareholder, OJK will conduct an assessment in accordance with the provisions of laws and regulations,” Dian said in a written statement on Thursday, 15 October 2026.

OJK also stressed that any change in a bank’s ownership or control must be subject to rigorous scrutiny. The process includes meeting prudential principles, applying good corporate governance and complying with the rules in force.

Dian explained that a change of ownership at a large bank cannot be assessed solely on the basis of a share sale. The regulator must also consider the various risks that could arise from a change in control.