Could Haji Isam Acquire BCA?
JAKARTA — Reports circulating on social media claim that businessman Andi Syamsuddin Arsyad, known as Haji Isam, plans to acquire PT Bank Central Asia Tbk (BCA). BCA has denied the reports. Meanwhile, Financial Services Authority (OJK) rules set out several requirements for parties seeking to take over ownership of a bank.
“Regarding reports circulating on social media about a possible corporate action involving BCA, we can confirm that the information is not true,” BCA Executive Vice-President for Corporate Communication and Social Responsibility Hera F. Haryn said in a statement, quoted on Monday (12 October 2026).
BCA urged the public to consult official sources and credible media for information. The company also said it continued to conduct its business prudently and in accordance with applicable regulations.
Under banking regulations, a bank takeover cannot be carried out simply by purchasing shares on the market. Financial Services Authority Regulation (POJK) No. 41/POJK.03/2019 on the merger, consolidation, acquisition, integration and conversion of commercial banks stipulates that an acquisition resulting in a change of control requires OJK approval.
A party seeking to become a controlling shareholder must also meet the regulator’s requirements, including passing a fit-and-proper assessment. This means a prospective controlling shareholder must be assessed for suitability under the applicable rules, rather than merely demonstrating the financial capacity to buy shares.
Meanwhile, POJK No. 56/POJK.03/2016 on share ownership in commercial banks sets maximum shareholding limits according to the category of shareholder. In general, the limit is 40 per cent of a bank’s capital for a financial institution that is a legal entity, 30 per cent for a non-financial legal entity, and 20 per cent for an individual shareholder in a conventional commercial bank. The rules also take account of links between shareholders, including ownership ties, family relationships up to the second degree, and cooperation to control a bank.
A proposed bank takeover must therefore comply with rules on share ownership and control, as well as obtain regulatory approval. The ownership limits should not be treated as absolute in every circumstance, since the regulations also set out specific requirements and exemptions. Whether a particular party could take over BCA cannot be determined solely by the size of its funds or the number of shares it could buy.
On the stock market, BCA shares, traded under the ticker BBCA, were among those most heavily sold by foreign investors during the trading week of 5–9 October 2026. Data from PT Indo Premier Sekuritas (IPOT) showed net foreign selling of BBCA shares totalling Rp 293.5 billion. This was below GOTO, which recorded Rp 663.2 billion in net selling. Bank Mandiri shares (BMRI) followed, with net selling of Rp 235.6 billion.
Over the same period, the Jakarta Composite Index (IHSG) rose 0.94 per cent, or 56.87 points, to 6,093.76. Foreign investors nevertheless recorded net share sales of Rp 2.44 trillion overall.
“Global market movements during the week of 5–9 October 2026 were marked by volatility in technology shares, high US bond yields and geopolitical risks,” said Brigita Kinari, an equity analyst at PT Indo Premier Sekuritas.
In terms of performance, BCA disbursed Rp 1,036 trillion in loans in the first half of 2026, an 8 per cent increase year on year. Third-party funds reached Rp 1,284 trillion, up 7.9 per cent. Low-cost current and savings account funds (CASA) grew 10.2 per cent to Rp 1,082 trillion.
BCA President Director Hendra Lembong said lending decisions took into account prudential principles and the company’s liquidity position. In the first half of 2026, BCA and its subsidiaries recorded profit of Rp 29.5 trillion.
Across the industry, the OJK reported that bank lending reached Rp 9,178 trillion in August 2026, up 13.65 per cent year on year. Third-party funds totalled Rp 10,413 trillion, an increase of 10.94 per cent. The banking sector’s capital adequacy ratio (CAR) stood at 24.10 per cent, while its gross non-performing loan (NPL) ratio was 2.11 per cent.