DBS Denies Merger Rumours with BCA

Jakarta, CNBC Indonesia — PT Bank DBS Indonesia has denied widespread social media rumours that the bank, which is owned by Singaporean investors, will merge with PT Bank Central Asia Tbk. (BBCA).

The claims have been circulating on Threads and X (formerly Twitter) since Wednesday (29 October 2026). They were also linked to a rise of more than 7% in BBCA shares during Wednesday’s trading.

Mona Monika, Head of Group Marketing & Communications at Bank DBS Indonesia, denied the rumours. “The issue is not true,” Monika told CNBC Indonesia on Thursday (29 October 2026).

According to Straitstimes.com, Singapore’s DBS Group has also rejected market speculation about a possible merger between its subsidiary and BBCA. “There is no truth to this rumour,” a DBS spokesperson said in response to a query.

The rumours of a merger between BCA and DBS Indonesia emerged on social media amid reports that “Crazy Rich Kalimantan” Andi Syamsudin Arsyad, also known as Haji Isam, was interested in acquiring BBCA shares. On the same day, the Corruption Eradication Commission (KPK) searched the offices of PT Djarum, a holding company affiliated with BCA’s controlling shareholder.

“Rumour going around about why $BBCA is up so much today. They say it’s going to merge with DBS Bank. DBS will disappear and become one with BCA,” X account @l*eSa**a wrote on Wednesday (28 October 2026).

Meanwhile, user @R**yH said market rumours suggested Bank DBS Indonesia could be merged into BCA through an inbreng transaction, or a non-cash capital contribution. Under this arrangement, BCA would remain the surviving entity, while DBS shareholders would receive newly issued BBCA shares in exchange.

DBS Bank Ltd. currently owns 99% of Bank DBS Indonesia, while BCA holds the remaining 1%. Temasek is the main shareholder of Singapore-based DBS Group.