Economist Reveals BCA's Strategy to Maintain Liquidity Amid Macroeconomic Pressures

Amid increasing economic uncertainty and domestic fiscal risks, the performance of PT Bank Central Asia Tbk, or BCA (stock code: BBCA), in the first quarter of 2026 shows strong resilience. This is assessed to be influenced by adaptive strategies in reading changes in customer behaviour and increasingly complex macroeconomic dynamics. Economist from Bright Institute, Yanuar Rizky, assesses that BCA’s main strength lies in its business fundamentals, particularly its dominance in low-cost funds or current account saving accounts (CASA). In the Indonesian banking landscape, CASA instruments serve as an important indicator because they reflect liquidity stability as well as funding cost efficiency. “BCA’s ability to maintain Third-Party Funds (DPK) liquidity by providing space for customers to continue holding their funds at BCA through the provision of foreign exchange pockets is a strong strategy,” Yanuar stated in a written explanation received by Kompas.com on Tuesday (28/4/2026). By providing hedging channels within its own ecosystem, BCA effectively curbs potential capital outflows at the micro level. Customers continue to keep their funds at BCA in foreign exchange form, rather than withdrawing funds from the bank to buy dollars or gold outside the system. “Even, the weakening of the rupiah indirectly contributes to increasing the value of CASA in rupiah denomination, thus providing an additional effect to the bank’s balance sheet,” he said. On the other hand, BCA’s advantages are also strengthened by its dominance in integrated payment systems. A strong payment gateway infrastructure creates a “back-to-back” relationship between fund mobilisation (savings) and credit disbursement, particularly consumer credit. This model allows BCA to maintain asset quality while moderating the potential rise in non-performing loans (NPL) or troubled credit. From an investment perspective, BCA shares still hold their own appeal. Yanuar views BBCA as a candidate for a long-term accumulation strategy, rather than as a safe haven. Primarily, when price corrections occur and volatility begins to subside. Meanwhile, from the customer behaviour side, the dynamics are also interesting. Data from the Deposit Insurance Corporation (LPS) shows that small depositors tend to reduce their savings, while large depositors actually increase theirs. In such a situation, Yanuar assesses that customer segmentation, such as Prioritas and Solitaire, becomes increasingly relevant. BCA not only offers exclusive services but also positions itself as an institution capable of becoming a “safe place” for large funds, not in the sense of being free from market risks, but as a place to perform flexible hedging. “Prioritas and Solitaire customers are indeed part of the strategy so that owners of large funds still feel that the bank is a place to maintain hedging,” Yanuar added.