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Propelled by Trust
Propelled
by Trust
2024 ANNUAL REPORT
PO
KE
TV
AL
AS
PT BANK CENTRAL ASIA TBK
2024 ANNUAL
REPORT
Page 2
Theme Continuity
2020
Beyond Uncertainties: Managing the Next Normal
BCA found itself in a strong position to overcome pandemic challenges due to our consistency in
digital banking strategy and extensive digital network, which positioned the Bank well to capture
opportunities as customers moved faster to online banking and digital solutions.
BCA believes that customer preference for digital solutions will continue to increase. As such,
BCA strives to provide a transaction banking ecosystem that can cater to the needs of customers
transitioning to the “new normal” and maintain high levels of trust in doing so.
On the lending side, 2020 was a challenging year filled with uncertainties and pressures on
business activities in almost all sectors as a result of the COVID-19 pandemic. BCA implemented
credit restructuring policies guided by applicable government regulations to support its
customers, offering and formulating suitable restructuring schemes according to their needs.
2021
Innovation and Collaboration for a Better Tomorrow
The year in review was marked by a higher level of economic activity than the previous year.
We lent competitively to tap quality borrowers amid recovery in loan demand throughout the
year. Treasuring long term relationships, BCA assisted its valued customers by extending credit
restructuring in line with the applicable regulations.
The digital landscape has accelerated rapidly since the start of the pandemic. For a better
tomorrow we stay innovative and relevant when it comes to our digital-based products and
services.
We continue engaging in mutually beneficial collaboration with our business partners, across both
the online and offline ecosystems, to fulfill diverse customer needs. With our strong foothold in
transaction solutions and high customer loyalty, we recorded a new high in our online transaction
volume and a robust growth of CASA funds in 2021.
As our support for community and environment, we are committed to implementing sustainability
programs that promote alignment between our business and ESG aspects. Our sustainable
finance portfolio grew positively and exceeded our expectations. As a responsible corporate
citizen, BCA understood the importance of a concerted effort to manage the COVID-19
pandemic. We supported the government’s vaccination program by establishing vaccination
centers for the public while ensuring that our employees were also vaccinated. BCA adjusted
its work from home policy in accordance with government regulations and promoted “Banking
from Home”. All in all, the continually improving mobility; economic rebound; a breakthrough of
innovation and collaboration, lead us to a better tomorrow.
2022
Resilience, Regaining Momentum
The Indonesian economy showed resilient performance throughout 2022 supported by the
reopening of business activities along with strong export performance. Private domestic
consumption regains momentum following the lifting of mobility restrictions. BCA successfully
took advantage of rising loan demand, across industries and segments from corporate,
commercial, SME to consumer.
BCA posted another record high in transaction banking frequency and value in 2022, solidifying
the CASA franchise as the Bank’s core funding. BCA consistently offers quality transaction
banking services through a “hybrid” model, equipped with integrated multi-channel platform.
Throughout the year, BCA delivered all-round strong financial performance.
Page 3
2023
Unleashing Potential,
Delivering Value
In 2023, amidst the global economic slowdown
and high uncertainty, Indonesia’s economy
recovery continued to make progress and
demonstrated commendable performance.
The growth of the Indonesian economy was
supported by strong domestic demand and
2024
high investment inflows.
Leveraging this momentum, BCA successfully
recorded solid performance, marked by sound
growth of loans and third-party funds. BCA
upholds its commitment to always being by
customers’ side and growing together with
customers by providing a range of quality Propelled by Trust
banking products and services to meet a wide
array of customers’ needs. A series of banking Indonesia’s economy remained resilient amid the ongoing global
product and service innovations were carried
economic uncertainty in 2024. Foreign and domestic investments,
out by leveraging the latest technological
advancements and taking into consideration along with the government’s down streaming initiative, have
‘excellent customer experience’ as a top contributed to the Indonesia’s economic growth, creating
priority. We also maintained our commitment to opportunities for the banking sector to expand its credit.
executing sustainability programs that support
the alignment between business and ESG Throughout 2024, BCA delivered solid loan disbursement
aspects.
performance, posting positive growth in all segments. CASA
Investments in human resources and remained as core deposits, contributing to more than 80% of total
technologies have been key to BCA’s success third party funds, a proportion that was indicative of high public
in leveraging its existing potential and growing trust in BCA as the transaction bank of choice.
the business sustainably for the long run, aiming
for to add value to all stakeholders.
With the trust that it commands, BCA is committed to consistently
provide customers with convenient, reliable and secured
transaction services. Innovation of various products and services
continues to be developed to maintain the Bank’s competitive
advantage in the Indonesia’s transaction banking landscape.
BCA consistently invests in information technology and human
resources as essential factors to support business growth in
the long run, while aligning business with ESG principles for
sustainability.
2024 Annual Report PT Bank Central Asia Tbk 1
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2 PT Bank Central Asia Tbk 2024 Annual Report
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Propelled by Trust
Indonesia’s economy remained resilient amid the ongoing
global economic uncertainty in 2024. Foreign and domestic
investments, along with the government’s down streaming
initiative, have contributed to the Indonesia’s economic
growth, creating opportunities for the banking sector to
expand its credit.
Throughout 2024, BCA delivered solid loan disbursement
performance, posting positive growth in all segments.
CASA remained as core deposits, contributing to more
than 80% of total third party funds, a proportion that was
indicative of high public trust in BCA as the transaction bank
of choice.
With the trust that it commands, BCA is committed to
consistently provide customers with convenient, reliable
and secured transaction services. Innovation of various
products and services continues to be developed
to maintain the Bank’s competitive advantage in the
Indonesia’s transaction banking landscape.
BCA consistently invests in information technology and
human resources as essential factors to support business
growth in the long run, while aligning business with ESG
principles for sustainability.
2024 Annual Report PT Bank Central Asia Tbk 3
Page 6
Contents
18 Main Highlights 98 Temporary Suspension of Trading
and/or Delisting of Shares
18 Financial Highlights 98 Corporate Actions , Material
20 Stock and Bond Highlights Information and Information on
Affiliated Transactions and Conflict
of Interest Transactions
23 Management Report
99 Membership In Associations
100 Record of BCA Share and Other
Securities Listing
24 Report of the Board of Directors
101 BCA Group Structure and
36 Supervisory Report of Subsidiaries Ownership
The Board of Commissioners
102 Information on Subsidiaries
104 Capital Market Supporting
43 Corporate Profile
Institution
105 Awards and Certifications
44 Company General Information 112 Branches
45 Line of Business 115 Information on Company’s Website
48 Milestones
50 Event Highlights 2024
56 Corporate Culture (Vision, Mission
and Core Values)
117 Management
Discussion
58 Products and Services and Analysis
60 Organization Structure 118 Business Review
62 Board of Directors and Board of 118 Business Segment Performance
Commissioners Profiles Overview
79 Board of Commissioners 120 Transaction Banking
Committee Members and
123 Corporate Banking
Corporate Secretary Profile
126 Commercial and Small & Medium
92 Senior Executive
Enterprise (SME) Banking
94 Number of Employees and
130 Individual Banking
Competence Development
133 Treasury and International Banking
94 Number of Employees
136 Business Support
95 Competence Development
136 Risk Management
95 Training and/or Education for the
Board of Commissioners, Board of 246 Human Capital Management
Directors, Committees, Corporate
249 Network and Operation
Secretary, and Internal Audit Unit
252 Information Technology
95 Changes in the Composition of
the Board of Commissioners and 254 Economy, Banking Sector and
Directors BCA Financial Review
95 Statement of Independence of 257 • Financial Position
Independent Commissioners
257 - Assets
96 Shareholder Composition
261 - Liabilities
96 BCA Ultimate Shareholder
263 - Equity
96 Details of 20 Largest
Shareholders 263 • Income Statement
97 Details of Shareholders with 263 - Income Statement
More than 5% Share Ownership 264 - Net Interest and Sharia Income
97 Public Shareholders with Less 264 - Other Operating Income
than 5% Share Ownership
265 - Operating Expenses
98 Share Ownership Percentage of
Commissioners and Directors 266 - Comprehensive Income
4 PT Bank Central Asia Tbk 2024 Annual Report
Page 7
266 - Profitability by Operating 273 • Impact of Regulatory Changes 449 Implementation of the Anti Fraud
Segment Strategy
273 • Changes in Accounting Policies
267 • Cash Flow 453 Whistleblowing System
273 • Business Continuity Information
271 • Key Financial Ratios 455 Anti-Corruption and Gratification
273 • Basic Lending Rate (SBDK)
Control Policy
268 Performance Review of The
274 • Prospects, Strategic Priorities,
Subsidiaries 457 Affiliated Transactions and Conflict
and Projections for 2025
of Interest Transactions
270 Other Material Information
274 - Economic and Banking Sector
466 Legal Cases
270 • 2024 Target Achievements Prospects for 2025
469 Important Cases & Administrative
270 • Marketing Aspects 274 - BCA’s Strategic Priorities and
Sanctions
2025 Projections
270 • Debt Repayment Capacity and
470 Information Access and
Receivables Collectibility
Corporate Data
270 • Monitoring and Management
of Non-Performing Loans
271 • Capital Structure and
275 Corporate
Governance
487 Code of Ethics
489 Corporate Culture
Management Policy 283 Commitment to the Implementation 490 Stock Ownership Program by
of Good Corporate Governance Management and/or Employees
271 - Capital Structure
Principles through the MSOP/ESOP Option
271 - Capital Structure Management
299 General Meeting of Shareholders 490 Shares Buyback
Policy
313 Information on Ultimate/Controlling 490 Other Corporate Actions
271 - Basis of Management Policies on
Capital Structure Shareholder 491 Provision of Fund to Related Party
314 Board of Commissioners and Large Exposure
271 • Dividend Payout Implementation
326 Independent Commissioners 493 The Strategic Plan
271 • Material Commitments for Capital
Goods Investments 328 Board of Directors 493 Transparency of Financial
and Non-Financial Conditions
271 - Purpose of Material 346 Meetings of The Board of Undisclosed in Other Reports
Commitments for Capital Goods Commissioners, The Board of
Investments Directors, and Joint Meetings 495 Funding Social Activities
271 - Source of Funds for Capital 357 Affiliated Relationships of 495 Funding Political Activities
Goods Investments Board of Commissioners, Board 496 Implementation of Integrated
272 - Currency and Foreign Exchange of Directors, and Controlling Governance
Risk Mitigation Related to Shareholders
507 Information Related to The
Capital Goods Investments 359 Diversity in The Composition of Fulfilment of Corporate
272 • Realized Capital Goods The Members of The Board of Governance Implementation
Investments Commissioners and The Board of
Directors
272 • Material Information and Facts
529 Corporate Social
Occurring After the Accountant’s 361 Performance Assessment of The
Report Date Board of Commissioners and the
272 • Management and/or Employee
Board of Directors and Environmental
Stock Ownership Program 365 Remuneration Policy Responsibility
through MSOP/ESOP Options 371 Board of Commissioners 529 Corporate Social and Environmental
272 • Utilization of Proceeds from Public Committees Responsibility
Offerings 397 Executive Committees of The Board
272 • Material Information on of Directors
Investments, Expansions,
Divestments, And Acquisitions
419 Corporate Secretary
424 Investor Relations Function
531 Consolidated
Financial
272 • Material Transactions Involving
Conflicts of Interest 426 Internal Audit Division Statements
272 • Disclosure of Related Party 430 Public Accountant (External Audit)
Transactions
433 Compliance Function
273 • Provision of Funds, Commitments,
437 Risk Management System
or Other Facilities by Companies
or Legal Entities within The Same 445 Internal Control System
Business Group as The Bank To
Debtors Who Have Received
Funding From The Bank
2024 Annual Report PT Bank Central Asia Tbk 5
Page 8
Recognition of
Our Excellence
Global Excellence in Retail Finance World’s Strongest Banking The 15th IICD Corporate Governance
Satu Rekening Satu Pelajar (KEJAR)
Awards 2024 Brand 2024 Conference and Award
Award
Most Recommended Retail Bank in Asia Top 50 Big Capitalization Public
The Best Implementation in
Pacific, Best Retail Bank in Indonesia, Most Listed Company, Best Overall Big
Conventional Bank
Recommended Retail Bank in Indonesia Cap
Bank Indonesia Award 2024
Best Rupiah Monetary Control
Supporting Conventional Bank, Best
Forbes World’s Best Bank 2024 Green Finance Supporting Bank (KBMI 14th Asian Excellence Award 2024
Annual Report Award (ARA) 2023
#1 World’s Best Bank in Indonesia III and KBMI IV), Bank with Best Financial Asia’s Best CSR (Bakti BCA)
Overall Champion
Reporting Compliance.
Gallup Global Customer Engagement 2023 FinanceAsia Asia’s Best Companies 2024 Asia Executive Team
Customer Engagement (CE) Recognition - FinanceAsia: FinanceAsia Asia’s Best
2024 #1 Best ESG (Sell – side dan
CE Score above global average Companies 2024
Most Committed to ESG (Silver) Combined) in Asia ex-Mainland
China dan #2 Best ESG (Sell – side)
in Core Asia
Newsweek: World’s Most Trustworthy Kantar BrandZ: Top 30 Most Valuable Building and Construction Authority
Companies 2024 Southeast Asian Brands 2024 Singapura: Green Mark Super Low
No. 1 World’s Most Trustworthy Companies #1 The Most Valuable Southeast Asian Energy Building
2024 in Banking Sector Brand in Indonesia, Most Meaningfully Wisma Foresta BSD - Certificate
Different Brand in Indonesia Green Mark Super Low Energy
Building (1st in Indonesia)
ESG, CSR,
Corporate
GCG, & IVR
Product and
Employee
Services
Ministry of Finance Republic of Top Ranking Performance Award - 2024 Stevie Awards for Great
Indonesia: Primary Dealer and Best Asia Pacific Region HR Asia: HR Asia Award 2024 Employers:
Distribution Partner for Government 8 Certified World Class (Best Contact Best Company to Work for in Asia, Best Leadership Development
Securities Center, Best Contact Center Design, Most Caring Companies Program
Best SUN (Government Bonds) Best CX Branch/Retail Service, Best
Primary Dealer I in 2024, Best SUN Employee Engagement, Best Employee Asia Pacific Stevie Awards 2024
Primary Dealer in 2024 in Secondary Wellness Program, Best Help Desk, Gold Winner - Award for Innovation
Market, Best SBSN Primary Dealer Best Improvement Award, Best in Internal Corporate Events (BIA)
I in 2024, Best SBSN Main Dealer in Customer Service)
Primary Market in 2024, Best SBSN Brandon Hall Group Excellence Awards
Primary Dealer in 2024 for Quotation - HCM Program 2024
Implementation, Best SUN Distribution Best Benefits, Wellness and Well-Being
Marketeers Youth Choice Award
Partner in 2024 Program (Bronze) - BCA’s Ring the Bell
2024
& Beautiful Life Programs, Best Results
2024 Stevie International Business Dream Workplace Category (Silver)
of a Learning Program (Bronze) - BCA’s
Awards Digital Factory Program (DFP)
Marketing Campaign of the Year -
Alpha Southeast Asia: 17th Annual Financial Products & Services (Gold) -
Private Wealth Awards 2024 #SuddenlyPeaceful - BCA’s Ramadan
Best Wealth Management Bank in Campaign, Brand & Experiences
Indonesia - Exhibition Experience (Gold) (BCA’s
UMKM Fest - Festival for MSMEs)
6 PT Bank Central Asia Tbk 2024 Annual Report
Page 9
Driving Solid
Loan Growth
Loan Quality
Loan Growth 5.3 % Loan at Risk (LAR)
13.8 % YoY
Loan Growth,
above the industry
average 1.8 % Non-Performing Loan (NPL)
Rp921.9 trillion
RPIM
21.5% (Macroprudential
Inclusive Financing
Ratio)
Strong Capital and Liquidity
29.4 % Capital
Adequacy Ratio 78.4 % Loan to
Deposit Ratio
(LDR)
(CAR)
2024 Annual Report PT Bank Central Asia Tbk 7
Page 10
Robust Transaction Banking
Franchise
End-to-end Supply Chain
Reliable Digital Capabilities
Number of Mobile
Supplier Principal Large-sized
Distributor
Mid-sized
Distributor
Retailer End Customer & Internet Banking
Transactions
5.0x
in 5 years
2.8x
1 Merchant Point of Sales Two Leading Mobile
2 3
Online Business Banking
(POS) & Merchant Apps Banking Apps Number of Mobile
Banking Users
in 5 years
QRIS
Transaction Value
2.5x
4
5 E-Wallet YoY
6 Online payment embedded
in 3rd party platform
Cash Deposit
& Withdrawal
Machine 7 24/7 Contact Center
8
1,264
Branches
Sustainable Customer Online Channels Reached
Growth New Records
Number of Current Account & Number of Transaction
Customers Saving Account (CASA) Transactions Value
Mobile Banking & Internet Banking
33.1 million Rp 924.0 trillion 31.6 billion Rp 28,261 trillion
7.6% YoY 81.5% 23.5% YoY 13.8% YoY
to total Third
Party Funds
8 PT Bank Central Asia Tbk 2024 Annual Report
Page 11
Serving Customers through Integrated
Multi-Channels with Various Features
Poket Valas
KlikBCA Money pocket for
Internet banking Welma in transactions with
Merchant BCA 16 foreign exchange
An app for easy for individual or MyBCA
business Online currencies
myBCA & BCA Mobile access to merchant
Mobile banking application services starting investing in
from on-boarding mutual funds,
to cater the needs of bonds, and
transactions for customers to support service, Online Account
connected with the access to Opening
across generation insurance
extensive EDC/QR Easy online
network information account opening
via myBCA and
BCA mobile
QRIS
Bank Indonesia’s
standardized QR code EDC APOS BCA
for facilitating national & Android based
crossborder payment payment point of
sales
Contactless
Faster and more
convenient payment via
eBranch BCA
credit and debit cards on A complementary app
BCA EDC for branch banking
service
Halo BCA New Branch Model
Supporting app to A hybrid branch
connect with Halo BCA banking, facilitated by
contact center 24/7 a combination of digital
channels and in person
services.
KeyBCA Apps BI-Fast
Digitalized Transfer channel, real-
KeyBCA token time, 24/7, set by Bank
that allows Indonesia
customers
to authorize
transactions via
smartphone
Flazz
A multifunctional
transaction card with
ATM CRM RFID (Radio Frequency
ATM offering for both Indentification) chip
cash withdrawal and techology for non-cash
deposit facilities payment process
Paylater BCA
A credit facility that can
be used as an alternative
OneKlik payment method by
Online payment feature scanning QRIS in ‘myBCA’
- embedded in co-
partner’s app
application
2024 Annual Report PT Bank Central Asia Tbk 9
Page 12
Sustainability Achievement
and Highlight
Economic Performance
IMPACT OF SOLID SUSTAINABILITY PERFORMANCE GROWTH ON COMPANY VALUE
9 Green Financing Sectors
CAGR: 12.7% YoY:
229 12.5%
(In trillion Rupiah) 203
Pollution
184 99
prevention and
13.5% control
87
Green Financing
82 Energy
Efficiency
Eco-efficient
Products
Other
Environmentally
130 11.9% Friendly Business
MSMEs 102 116 Renewable
Activities
Energy
Sustainable
Transportation
Green Building
2022 2023 2024
Sustainable
Natural Resources
% to total and Land Use
portfolio 25.5% 24.9% 24.8% Sustainable Water
and Wastewater
Management
GREEN FINANCING & INVESTMENT
Renewable Energy Financing Established Sustainability Linked Loan Policy
Total Capacity Outstanding
216 MW Rp 1,003 billion
Outstanding Rp3 trillion 3x YoY
Participating in the Indonesian Electric Sustainable Palm Oil Financing
Vehicle Ecosystem Development
Palm Oil Financing Certification 2020 2024
Outstanding
ISPO and RSPO Certified 8 16
Rp 2,348 billion
RSPO Certified
ISPO Certified
# Palm Oil Corporate Debtors with
12
28
48
20
32
68
Certifications
The purchase of green corporate bonds as
%of Certified Palm Oil Debtors 36% 76%
part of the implementation of sustainable
finance % of Certified Palm Oil Loan Outstanding 45% 69%
Green Corporate Bonds (Sukuk)
Rp 1,635 billion
10 PT Bank Central Asia Tbk 2024 Annual Report
Page 13
SOCIAL SUPPORT & SUSTAINABILITY FOR MSMEs
Bangga Lokal
total 1,427 Total >1,500
merchants MSMEs
with total sales participated
volume in 2024
Rp548 billion
People’s Business Credit (KUR) Financing
Rp 784 billion 30.9% YoY
SUPPORTING WOMEN EMPOWERMENT
Women MSME Debtors Outstanding
47thousands Rp17.2 trillion
7.6% YoY 16.4% YoY
DEVELOPMENT OF BAKTI BCA MSMEs
Total MSMEs MSMEs workforce in Desa Halal Certification
Development Participants Binaan Bakti BCA Support for MSMEs
> 2,500 MSMEs 268 Local Residents 1,986 MSMEs
Total Training Participants Export Training Potential Value of
in Halal Certification Participants Exports
> 2,400 MSMEs 58 MSMEs Rp37 billion
2024 Annual Report PT Bank Central Asia Tbk 11
Page 14
Environmental Performance
Total Operation Emission Total Financed Emission
349,741 Ton CO2eq 28.9 million Ton CO2eq
OPERATIONAL EMISSION
2024 BCA’s Operational Emission Scope 1 & 2 Emission Intensity
(tCO2eq/billion Rupiah Operating income)
GHG Emission (tCO2eq) 2024
Scope 1 1.61
1.43
Stationary combustion 778.7 1.33
Mobile combustion 10.8
Fugitive emissions 3,861.1
TOTAL 4,650.6
Scope 2
Electricity purchased 139,855.6
Scope 3 2022 2023 2024
Category 1. Purchased goods and services 79,367.6
Category 2. Capital goods 56,881.3
Category 3. Fuel- and energy-related activities not
20,853.9
included in scope 1 or scope 2
Category 5. Waste generated in operations 2,325.3
Scope of operational emissions
Category 6. Business travel 10,704.9 calculation
100 %
Category 8. Upstream leased assets 34,306.1
Category 12. End-of-life treatment of sold products 795.5
TOTAL 205,234.6
Total GHG Emissions (Scope 1 + 2 + 3) 349,740.8 Operational emission from
Note: Scope 1, 2, and 3 has been
Calculations were made by extrapolating data from January to October 2024 for calculated nationwide
100% of BCA's Head Offices, Data Center, and Branch Offices.
FINANCED EMISSION
2023 BCA’s Financed Emission
Mining & Quarrying Processing Industry
1.7 million tCO2eq 23.3 million tCO2eq
TOTAL
Electricity, Gas, Steam/Hot & Agriculture, Forestry, &
Cold Air Procurement Fisheries
0.4 million tCO2eq 28.9 2.1 million tCO2eq
million tCO2eq
Construction Transportation & Warehousing
0.6 million tCO2eq 0.8 million tCO2eq
Note:
Calculations consisted of more than 50% of the BCA's total productive loan portfolio in 2023.
12 PT Bank Central Asia Tbk 2024 Annual Report
Page 15
EFFORT TOWARDS ENVIRONMENTALLY FRIENDLY OPERATION
Carbon Emission Reduction Potential
Ton CO2eq
Increased >2x in 2
years
4,216
3,021
1,996
71,500 Ton CO2eq
Participating in Indonesia’s
2022 2023 2024 carbon trade
Digital Banking Products Waste Management &
and Solutions Recycling Initiative
2,272 957
Ton CO2eq
4,216 Ton CO2eq
Ton CO2eq
Total carbon
reduction
potential Biodiversity
Green Building Conservation
879Ton CO2eq
108 Ton CO2eq
2024 Annual Report PT Bank Central Asia Tbk 13
Page 16
DIGITAL PRODUCT & SOLUTION
We enhance digital capabilities to accelerate digital transaction
DIGITAL BANKING SOLUTION DIGITAL WORKPLACE
36
Transaction Volume (billion)
30
24
18 Internal Digital Digital Approval
Administration Mechanism
Work From Hub Internal Online
2021 2022 2023 2024 Events
99.8%
of transaction done
through digital channels
35.9 billion Less Paper Less Mobilisation Less Emission
Total Digital Transaction
ENVIRONMENTALLY FRIENDLY BUILDINGS
2024 2024
WISMA BCA FORESTA WISMA BCA BSB
Became Indonesia’s First Building to Secure the
Green Mark Super Low Energy Building Certificate
Received Green Building
Certificate Platinum Level
27 2
Buildings Green
By Building and Construction Authority Singapore by Green Building Council Indonesia with Solar Building
Panel Certified
Minimize energy
intensity
2024 2023
Total transaction (kWh/txn)
0.005 0.006 15%
Building area (kWh/m2/year)
2021 2022 2023
Platinum Winner: Energy Winner: Energy 139 154 10%
Certificate Efficient Building Efficient
Green Building Subroto Award by Building
Council Ministry of Energy & ASEAN Energy Classified as “Efficient” based on
Indonesia Mineral Resoiurces Award SNI 03-6196-200
14 PT Bank Central Asia Tbk 2024 Annual Report
Page 17
WASTE MANAGEMENT & RECYCLING INITIATIVE
593 Ton
Total waste managed
Rp 489.6 million
of waste management proceeds were
distributed to the Bakti BCA Foundation
410 60 Ton Ton
37 Ton
25 Ton
23 Ton
38 Ton
Archived Cartridge EDC & Non-Organic Plastic Other
Paper ATM Key BCA Waste Money Waste
Wrap
696 Kg
BCA’s electronic waste
recycled into an artwork
at the BCA Sustainability
Corner
BIODIVERSITY COSERVATION
51,500
trees planted
463 108 Ton CO2eq
estimated CO2 emissions absorption
(2021-2024)
local
involvement with 92% survival rate
2024 Annual Report PT Bank Central Asia Tbk 15
Page 18
Social Aspect
EMPOWERING OUR PEOPLE
26,532 Total BCA Employes
61.1% 61.4% 61.3% 4.67/ 5.0 3.4% 1.0%
Female Female New Female Team Engagement Turnover Rate Absentee Rate
Employees Managers Employees Score (scale 5)
ENHANCING SERVICE EXCELLENCE
97.4% from >1.2 million 88.1%
Customer Complaint Number of received Whistleblowing Resolution Rate
Resolution Rate customers’ report
4.77 / 5.0
Customer
91th Percentile 4.88 / 5.0
Global Customer Branch Service Quality
Engagement (CE) Index Engagement Score (BSQ) Index
for Indonesia
2024 Program Distribution
Rp169.8 Billion of CSR funds disbursed
Bakti Lingkungan Bakti Pendidikan
51,500 >15,000 5 700 >230,000
trees planted sea turtle hatchlings orangutans recipients of Bakti BCA participants of financial
released rehabilitated Scholarship literacy education
3 ton 5 10 32
of compost produced from people with disability Bakti BCA
orangutans
waste management training received MUA training assisted schools
released into
Initial survey for Javan leopard conservation the wild and BNSP certificate
Bakti Budaya Bakti Kesehatan
120 1,114 65 1,010 2,211 US$1 million
performers spectators participants in natural patients blood bags in commitment
of the cultural of cultural dyeing for woven underwent blood donation to donate for
performance were performances fabric training cataract surgery program Partnership to
mostly students
in revenue from natural dye 13,620 Accelerate Stunting
Reduction in
>Rp305 million woven production individuals received healthcare service Indonesia (PASTI)
subsidies at the Bakti BCA Clinic program 2023-2026
Desa Bakti BCA
development program for tourism
30 Bakti BCA Villages 76 villages
291,452 tourists visiting Bakti BCA assisted
villages
1,986 MSMEs received support for halal
certification
Rp13.3 billion Bakti BCA assisted villages’ revenue 58 MSME’s participated in MSME Go Export
employment in Bakti BCA assisted
1,213 people villages Rp37 billion export value from Go Export program
16 PT Bank Central Asia Tbk 2024 Annual Report
Page 19
Sustainability Governance Aspect
Award & Appreciation of Sustainability Practices
GOOD CORPORATE GOVERNANCE
ASEAN Corporate
Governance
Scorecard Rating
106.6
101.9 Grand Champion
BCA 85.2
77.0
Annual Report Best Overall
Average 67.0
70.0 Award 2023 IICD Award 2024
Regional
Theme: Internalizing Integrated Indonesian Institute for Corporate
2017 2019 2021 Mindset Toward Sustainable Directorship (IICD) Corporate
Long Term Value Creation Governance Conference and Award
ESG RATING BY INDEPENDENT INSTITUTIONS
MSCI Thomson Dow Jones
Indonesia Index Reuters - Refinitiv Sustainability Index
Top 10 Constituents ESG Scores S&P Global CSA
Rating A Score 50
Score 86/100 Rank percentile 80th
FTSE4Good FIHRRST
ASEAN 5 Index Best Sustainability
Top 10 Constituents Report
Rating A+
BCA constituents of:
• IDX ESG Leaders Index
• SRI - KEHATI Index
• ESG Quality 45 IDX - KEHATI
• ESG Sector Leaders IDX - KEHATI
IT & DATA SECURITY CERTIFICATION
ISO 20000-1:2018 ISO 27001:2013
ISO 27001:2013 for IT service management
for Enterprise Security for data center
& data center
network & operation
PCI DSS 3.2.1 Certification ISO 9001-2015
for BCA data center for data center operations
(global data security) & quality management system
2024 Annual Report PT Bank Central Asia Tbk 17
Page 20
Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Financial Highlights
Key Financial Highlights in the last 5 years (Audited, Consolidated, as of or for the year ended December 31)
(in Billion Rupiah) 2024 2023 2022 2021 2020
Financial Position
Total Asset 1,449,301 1,408,107 1,314,732 1,228,345 1,075,570
Total Earning Assets 1,354,435 1,266,223 1,173,144 1,125,418 1,005,423
Total Loans1 921,878 810,392 711,262 636,987 588,672
Placements with Bank Indonesia & Other Banks and Securities 388,316 410,351 434,237 458,163 386,623
Total Liabilities 1,186,466 1,165,569 1,093,550 1,025,496 890,856
Third Party Funds2 1,133,612 1,101,673 1,039,718 975,949 840,753
CASA (Current Account Saving Account) 923,977 884,641 847,938 767,012 643,862
Current Accounts 361,884 348,457 323,924 285,640 229,821
Saving Accounts 562,094 536,184 524,014 481,373 414,041
Time Deposits 209,635 217,032 191,780 208,937 196,891
Borrowings and Deposits from Other Banks 5,899 11,700 9,253 10,993 11,470
Debt Securities Issued 3
- - - 482 591
Subordinated Bonds 500 500 500 500 500
Total Equity 262,835 242,538 221,182 202,849 184,715
Comprehensive Income
Operating Income 108,307 98,517 85,419 76,821 73,957
Net Interest Income 82,264 74,938 63,863 55,987 53,977
Operating Income other than Interest 26,042 23,579 21,557 20,834 19,980
Operating Expenses (38,054) (37,281) (31,638) (29,736) (29,264)
Impairment Losses on Financial Assets (2,034) (1,056) (3,314) (8,243) (11,124)
Income Before Tax 68,218 60,180 50,467 38,841 33,569
Net Income 54,851 48,658 40,756 31,440 27,147
Other Comprehensive Income (345) (1,106) (3,323) 427 3,889
Total Comprehensive Income 54,506 47,552 37,433 31,867 31,036
Net Income Attributable to:
Equity Holders of Parent Entity 54,836 48,639 40,736 31,423 27,131
Non-Controlling Interest 15 19 20 17 16
Comprehensive Income Attributable to:
Equity Holders of Parent Entity 54,493 47,534 37,413 31,849 31,018
Non-Controlling Interest 13 18 19 18 18
Earnings per Share (in Rupiah, full amount)4 445 395 330 255 220
All figures in this annual report are in Indonesian formatting, unless otherwise stated.
1. Including asset related to sharia transaction, consumer financing receivables and finance lease receivables.
2. Including sharia deposits.
3. Debt securities issued are bonds and medium-term notes issued by BCA Finance, a subsidiary of BCA engaged in the financing of four-wheeled vehicles.
4. Number have been adjusted after the 1:5 stock split on October 15, 2021.
5. Parent company only; financial ratios are presented in accordance with Financial Services Authority Circular Letter No.9/SEOJK.03/2020 dated 30 June 2020 concerning
Transparency and Publication of Conventional Commercial Bank Reports.
6. The CAR ratio takes into account credit risk, operational risk and market risk in accordance with Bank Indonesia Circular Letter No.11/3/DPNP dated 27 January 2009 later
replaced by Financial Services Authority Circular Letter No.06/SEOJK.03/ 2020 concerning Calculation of Risk Weighted Assets (RWA) for Operational Risk Using the Basic
Indicator Approach (PID) and is calculated in accordance with Financial Services Authority Regulation No. 11 /POJK.03/2016 dated 2 February 2016 concerning Minimum
Capital Requirement for Commercial Banks.
7. Calculated from total non-performing loans (substandard, doubtful, loss) divided by total loans.
8. Sum of loans with a collectability of “Non-Performing Loans”.
18 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
2024 2023 2022 2021 2020
Financial Ratios5
Capital
Capital Adequacy Ratio (CAR)6 29.4% 29.4% 25.8% 25.7% 25.8%
CAR Tier 1 28.2% 28.3% 24.8% 24.7% 24.8%
CAR Tier 2 1.1% 1.1% 1.0% 1.0% 1.0%
Fixed Assets to Capital 14.7% 15.7% 16.3% 15.9% 18.8%
Assets Quality
Non Performing Earning Assets and Non Earning Assets to
1.0% 1.0% 0.9% 1.1% 0.9%
Total Earning Assets and Non Earning Assets
Non Performing Earning Assets to Total Earning Assets 0.9% 0.9% 0.8% 1.0% 0.8%
Allowance Provision on Earning Assets to Total Earning Assets 2.5% 2.7% 3.0% 3.0% 2.8%
Non-Performing Loans - NPL - gross7 1.8% 1.9% 1.8% 2.2% 1.8%
Non-Performing Loans - NPL - net 0.6% 0.6% 0.6% 0.8% 0.7%
Loan at Risk (LAR)8 5.3% 6.9% 10.4% 15.2% 19.7%
Rentability
Return on Assets (ROA)9 3.9% 3.6% 3.2% 2.8% 2.7%
Return on Equity (ROE)10 24.6% 23.5% 21.7% 18.3% 16.5%
Net Interest Margin (NIM)11 5.8% 5.5% 5.3% 5.1% 5.7%
Cost to Income Ratio - CIR12 31.5% 34.1% 35.1% 34.9% 37.4%
Operating Expenses to Operating Income (BOPO) 41.7% 43.7% 46.1% 54.2% 63.5%
Liquidity
Loan to Deposit Ratio (LDR)13 78.4% 70.2% 65.2% 62.0% 65.8%
Macroprudential Intermediation Ratio (RIM) (consolidated)14 81.5% 73.2% 68.4% 65.0% 68.6%
Net Stable Funding Ratio - NSFR (consolidated)15 157.3% 168.6% 171.1% 180.7% 171.8%
CASA to Third Party Funds Ratio (consolidated) 81.5% 80.3% 81.6% 78.6% 76.6%
Liabilities to Equity Ratio (consolidated) 451.4% 480.6% 494.4% 505.5% 482.3%
Liabilities to Assets Ratio (consolidated) 81.9% 82.8% 83.2% 83.5% 82.8%
Liquidity Coverage Ratio (LCR)16 323.0% 357.8% 393.5% 396.3% 379.2%
Compliance
Percentage of Violation of Legal Lending Limit
a. Related Parties 0.0% 0.0% 0.0% 0.0% 0.0%
b. Non Related Parties 0.0% 0.0% 0.0% 0.0% 0.0%
Percentage Lending in Excess of Legal Lending Limit
a. Related Parties 0.0% 0.0% 0.0% 0.0% 0.0%
b. Non Related Parties 0.0% 0.0% 0.0% 0.0% 0.0%
Minimum Reserve Requirement
a. Primary Reserve Requirement - Rupiah 5.0% 6.4% 7.5% 3.2% 3.2%
b. Primary Reserve Requirement - Foreign Currency 2.0% 2.0% 2.0% 2.0% 2.0%
Net Open Position (NOP) 0.3% 0.1% 0.1% 0.1% 0.4%
Other Key Indicators
Number of Accounts (in thousands) 41,321 38,258 34,680 28,505 24,487
Number of Branches 1,264 1,258 1,247 1,242 1,248
Number of ATMs 19,543 19,047 18,268 18,034 17,623
Number of ATM Cards (in thousands) 36,401 33,822 30,552 24,577 22,533
Number of Credit Cards (in thousands) 4,966 4,634 4,379 4,112 4,186
9. Calculated from profit (loss) after tax divided by average of total assets.
10. Calculated from profit (loss) after tax divided by average Tier 1 capital.
11. Calculated from net interest income (expense) divided by average earning assets.
12. Presented with the calculation of profit and loss from trade and foreign exchange transactions on a net basis as operating income, in accordance with accounting standard.
13. Calculated from total loan non bank divided by third party funds.
14. Macroprudential Intermediation Ratio (MIR) as stipulated by BI Regulation No.20/4/PBI/2018.
15. Net Stable Funding Ratio (NSFR) as stipulated by OJK Regulation No.50/POJK/2017.
16. Calculated from the total High Quality Liquid Asset (HQLA) divided by the total net cash outflows in accordance with Financial Services Authority Regulation
No. 42/POJK.03/2015 concerning Liquidity Coverage Ratio for Commercial Banks.
2024 Annual Report PT Bank Central Asia Tbk 19
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Stock and Bond Highlights
BCA Share Performance in 2020 – 2024
11,000 1,600
Volume
Share Price
10,000 1,400
9,000
1,200
Share Price (in Rupiah)
8,000
Volume (in million)
1,000
7,000
800
6,000
600
5,000
400
4,000
3,000 200
2,000 0
Jan-20 Apr-20 Jul-20 Nov-20 Feb-21 Jun-21 Sep-21 Jan-22 Apr-22 Aug-22 Nov-22 Mar-23 Jun-23 Oct-23 Jan-24 May-24 Aug-24 Dec-24
Source: Bloomberg
2024 2023 2022 2021 2020
Highest Price (in Rupiah) 10,950 9,450 9,400 8,250 7,060
Lowest Price (in Rupiah) 8,775 8,000 7,000 5,905 4,325
Closing Price (in Rupiah) 9,675 9,400 8,550 7,300 6,770
Market Capitalization (in trillion Rupiah) 1,193 1,159 1,054 900 835
Earnings per Share (in Rupiah) *
445 395 330 255 220
Book Value per Share (in Rupiah)* 2,131 1,966 1,794 1,645 1,498
P/E (x) 21.7 23.8 25.9 28.6 30.8
P/BV (x) 4.5 4.8 4.8 4.4 4.5
* Figures have been adjusted after 1:5 stock split on October 15, 2021.
Source: Bloomberg
BCA Share Price, Volume & Market Capitalization
in 2020 – 2024
Price
Transaction Market
Year Quarter Volume Capitalization
Highest Lowest Closing (in thousands) (in billion Rupiah)
(in Rupiah) (in Rupiah) (in Rupiah)
I 10,400 9,300 10,075 4,534,247 1,241,996
II 10,100 8,775 9,925 5,896,590 1,223,505
2024
III 10,950 9,800 10,325 4,346,292 1,272,815
IV 10,875 9,550 9,675 4,388,680 1,192,686
I 8,950 8,000 8,750 4,979,844 1,078,657
II 9,325 8,650 9,150 3,976,118 1,127,967
2023
III 9,450 8,825 8,825 4,051,111 1,087,902
IV 9,450 8,600 9,400 4,723,425 1,158,785
I 8,300 7,300 7,975 5,039,634 983,119
II 8,250 7,250 7,250 6,308,537 893,744
2022
III 8,875 7,000 8,550 5,833,306 1,054,002
IV 9,400 8,125 8,550 5,522,982 1,054,002
I 7,380 6,145 6,215 5,619,018 766,154
II 6,620 5,980 6,025 5,237,765 742,732
2021
III 7,000 5,905 7,000 4,458,440 862,925
IV 8,250 6,710 7,300 4,842,602 899,908
I 7,060 4,325 5,525 7,437,995 681,095
II 6,100 4,680 5,695 7,140,300 702,051
2020
III 6,600 5,390 5,420 5,424,057 668,151
IV 7,000 5,440 6,770 5,999,223 834,572
Source: Bloomberg
20 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
BCA Capital Structure in 2020 – 2024*
2024 2023 2022 2021 2020
Authorized Capital
Number of Shares 440,000,000,000 440,000,000,000 440,000,000,000 440,000,000,000 88,000,000,000
Total par Value (in Rupiah) 5,500,000,000,000 5,500,000,000,000 5,500,000,000,000 5,500,000,000,000 5,500,000,000,000
Unissued
Number of Shares 316,724,950,000 316,724,950,000 316,724,950,000 316,724,950,000 63,344,990,000
Total par Value (in Rupiah) 3,959,061,875,000 3,959,061,875,000 3,959,061,875,000 3,959,061,875,000 3,959,061,875,000
Issued and Fully Paid Up Capital
Number of Shares 123,275,050,000 123,275,050,000 123,275,050,000 123,275,050,000 24,655,010,000
Total par Value (in Rupiah) 1,540,938,125,000 1,540,938,125,000 1,540,938,125,000 1,540,938,125,000 1,540,938,125,000
Outstanding Shares
Number of Shares 123,275,050,000 123,275,050,000 123,275,050,000 123,275,050,000 24,655,010,000
Total par Value (in Rupiah) 1,540,938,125,000 1,540,938,125,000 1,540,938,125,000 1,540,938,125,000 1,540,938,125,000
* Figures have been adjusted after 1:5 stock split on October 15, 2021.
BCA Cash Dividends in 2020 – 2024*
2024 2023 2022 2021 2020
Earnings per Share (in Rupiah) 445 395 330 255 220
Cash Dividends per Share (in Rupiah) n.a 270.0 205.0 145.0 106.0
Cash Dividends Amount (in Rupiah) n.a 33,284,263,500,000 25,271,385,250,000 17,874,882,250,000 13,067,155,300,000
Interim Dividend (in Rupiah) 50.0 42.5 35.0 25.0 19.6
Cum Dividend for Trading in:
Regular and Negotiated Market 20 Nov 2024 1 Dec 2023 1 Dec 2022 16 Nov 2021 7 Dec 2020
Cash Market 22 Nov 2024 5 Dec 2023 5 Dec 2022 18 Nov 2021 10 Dec 2020
Final Dividend (in Rupiah) n.a 227.5 170.0 120.0 86.4
Cum Dividend for Trading in:
Regular and Negotiated Market n.a 22 Mar 2024 28 Mar 2023 25 Mar 2022 7 Apr 2021
Cash Market n.a 26 Mar 2024 30 Mar 2023 29 Mar 2022 9 Apr 2021
Dividend Payout Ratio n.a 68.4% 62.0% 56.9% 48.2%
* Figures have been adjusted after 1:5 stock split on October 15, 2021.
BCA Dividends History*
Amount Recording Payment
Description Declared Cum-Dividend
per Share Date Date
2024 Interim Rp50.0 12 Nov 2024 Regular and Negotiation Market 20 Nov 2024 22 Nov 2024 11 Dec 2024
Cash Market 22 Nov 2024
2023 Final Rp227.5 18 Mar 2024 Regular and Negotiation Market 22 Mar 2024 26 Mar 2024 4 Apr 2024
Cash Market 26 Mar 2024
2023 Interim Rp42.5 23 Nov 2023 Regular and Negotiation Market 1 Dec 2023 5 Dec 2023 20 Dec 2023
Cash Market 5 Dec 2023
2022 Final Rp170.0 20 Mar 2023 Regular and Negotiation Market 28 Mar 2023 30 Mar 2023 14 Apr 2023
Cash Market 30 Mar 2023
2022 Interim Rp35.0 23 Nov 2022 Regular and Negotiation Market 1 Dec 2022 5 Dec 2022 20 Dec 2022
Cash Market 5 Dec 2022
2021 Final Rp120.0 21 Mar 2022 Regular and Negotiation Market 25 Mar 2022 29 Mar 2022 19 Apr 2022
Cash Market 29 Mar 2022
2021 Interim Rp25.0 8 Nov 2021 Regular and Negotiation Market 16 Nov 2021 18 Nov 2021 7 Dec 2021
Cash Market 18 Nov 2021
2020 Final Rp86.4 31 Mar 2021 Regular and Negotiation Market 7 Apr 2021 9 Apr 2021 28 Apr 2021
Cash Market 9 Apr 2021
2020 Interim Rp19.6 1 Dec 2020 Regular and Negotiation Market 7 Dec 2020 10 Dec 2020 22 Dec 2020
Cash Market 10 Dec 2020
* BCA conducted a 1:2 stock split, or splitting 1 share into 2 shares, effective on May 15, 2001, June 8, 2004 and January 31, 2008. BCA also conducted a 1:5 stock split, or
splitting 1 share into 5 shares, effective on October 15, 2021
Bonds Highlights
Nominal
Recording Maturity Interest
Instrument Currency Value of the Tenor Rating Trustee Underwriter
Date Date Rate
Bond
Bank Central Asia Continuous Subordinated Bonds I Phase I 2018
- Seri A 6 July 2018 Rupiah Rp435 billion 7 years 5 July 2025 7.75% p.a idAA PT Bank PT BCA
(Pefindo) Rakyat Indonesia Sekuritas
(Persero) Tbk
- Seri B 6 July 2018 Rupiah Rp65 billion 12 years 5 July 2030 8.00% p.a idAA PT Bank PT BCA
(Pefindo) Rakyat Indonesia Sekuritas
(Persero) Tbk
2024 Annual Report PT Bank Central Asia Tbk 21
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O1
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n ag em
a
M
port
Re
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Report of the Board of Directors
Jahja Setiaatmadja
President Director
24 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
BCA continued to deepen and
diversify its customer base
in order to drive sustainable
growth
Dear Shareholders,
We are pleased to report that BCA the decline in purchasing power Against this backdrop, the Bank
has once again demonstrated strong particularly among lower-income successfully achieved sound
business and financial performance in households. Foreign and Domestic operating income performance,
a year marked by moderate economic Direct Investment boosted economic driven by broad-based loan growth
growth and increasing competition. activities as the Government’s down- that surpassed industry performance.
Profit attributable to shareholders streaming efforts attracted fund BCA’s strong loan expansion
rose by 12.7% to Rp54.8 trillion in inflows into the country and created was accompanied by stable
2024, with Return on Assets (ROA) new lending opportunities in the cost-of-funds in a high interest
and Return on Equity (ROE) improving banking sector. Banking sector loan rate environment. BCA’s reliable
to 3.9% and 24.6%, respectively, growth remained strong above 10% transaction franchise – bolstered
compared to 3.6% and 23.5% in the level in 2024. Public projects drove by customers’ trust in BCA as their
previous year. economic growth with significant preferred bank – provided low cost
spending in infrastructure, social CASA funds. BCA’s strong brand
While volatile global condition aids, and fund distribution to equity underscored its strength in
and the outcome of US election provinces. We appreciate Regulator’s securing sound liquidity position and
affected emerging countries, the efforts to focus on macro stability, overcoming pricing competition for
Indonesian economy demonstrated implementing prudent monetary deposits.
resilience, sustaining growth at measures to stabilise rupiah exchange
5.0% accompanied by similar rise rate and withstand volatile global
in domestic consumption despite capital flows.
2024 Annual Report PT Bank Central Asia Tbk 25
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
This superior operating income performance was accompanied by improved credit quality, as evident through a lower
Loan at Risk (LAR) ratio, leading to manageable credit provisioning expenses. These achievements enabled BCA to meet
and surpass most of its targets for key financial metrics, as highlighted below.
BCA Performance Highlights in 2024
Financial Metrics 2024 Target Realization
Loan Growth 9% - 10% 13.8%
CASA Growth 6% - 8% 4.4%
Net Interest Margin (NIM) 5.5% - 5.6% 5.8%
Cost to Income Ratio (CIR) 34% - 35% 31.5%
Return on Asset (ROA) 3.4% - 3.6% 3.9%
Return on Equity (ROE) 21% - 23% 24.6%
Strategic Priorities and Initiatives To deliver an outstanding customer experience, BCA must
Achieving sound financial results in a dynamic market anticipate customer needs beyond its current offerings.
environment is a function of customer trust, which remains This begins with a comprehensive understanding of
BCA’s most valuable asset. Over the years, BCA has customers, derived from the analysis of their behavior.
established a reputable and competitive brand. Newsweek
recognized BCA as the World’s Most Trustworthy Company On this regard, our mobile channels are continually
in banking for 2023 and 2024. enhanced. User experience (UX) and user interface (UI)
design have been extensively refined and tested to ensure
The company remains committed to maintaining and the channels are intuitive, secure, and convenient to use
enhancing that trust through service excellence and the for customers. In 2024, we rolled out features such as
delivery of reliable, comprehensive products and services multi-currency pockets supporting 16 foreign currencies,
to customers. This approach has led to a doubling of our overseas access, and a digital token replacing the physical
customer base over the past five years to 33.1 million as of KeyBCA token for financial transactions.
December 2024. In 2024, we therefore continued to focus
on customer-oriented strategic priorities, as outlined Enhancements to the online wealth management service
below: under ‘Welma’ resulted in higher overall investment
product transactions, up 26% YoY. This apps enhancement
Constantly deliver service excellence & serving beyond was accompanied by product expansion, with 16
current offerings new investment & bancassurance products launched
BCA has established a significant customer base, with throughout 2024. Combined online and offline efforts led
transaction banking services playing a pivotal role in its to a 35% YoY growth in total Investments Assets under
growth and serving as a primary source of CASA funding. Management (AUM). This growth surpassed industry trends
The Bank prioritizes service excellence and reliability and reflects our customers’ growing confidence in BCA as
across its transaction channels. All channels performed well their preferred investment partner.
with minimal downtime throughout the year, exceeding the
target level of “Always On at 99.8%”. This commitment is To better serve merchants, BCA enhanced the BCA
reflected in the large number of transactions processed, Merchant App, improving service levels for new merchant
reaching 98 million transactions per day in 2024, acquisition and QR code settlement times. BCA’s extensive
representing a growth of 21% compared to the previous merchant point-of-sale (POS) network, one of the largest
year. in Indonesia, offers diverse payment options to over
26 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
33 million BCA customers, including QR code, debit and Despite the prevalence of digital channels, BCA’s physical
credit cards, and contactless payment options. In 2024, network remains crucial. While many other banks have
65% of new merchant registrations were completed reduced their physical presence, BCA continues to
digitally through the app, making the onboarding process maintain and strategically expand its ATM and branch
faster and more accessible. The app also provides tools network to accommodate cash transactions, as cash in
for real-time sales monitoring, store management, and circulation in the economy increased by 9.3% YoY in 2024.
streamlined communication with BCA for inquiries or As of December 2024, BCA operated 1,264 branch offices
complaints. These improvements have contributed to and outlets, as well as mobile branches and units that can
transaction growth, reinforcing BCA’s role as a trusted be deployed as needed to serve our growing customer
partner in Indonesia’s business environment. Notably, QR base.
Code transaction frequency increased by 170% YoY in
2024. Branch offices serve as essential contact points for building
and maintaining relationships. This approach is particularly
Meeting customer needs in Indonesia’s hybrid society relevant for serving business customers and upper class
and expanding the ecosystem individual customers. These customers receive dedicated
BCA retains its strong presence as a hybrid bank to serve relationship managers and priority assistance. To ensure
a wide array of customer base, operating integrated multi quality in-person service, BCA invests in continuous training
channels to facilitate large transaction volumes across and recognizes exceptional branch staff performance,
online and offline ecosystem. The Bank investing in various promoting a culture of service excellence throughout the
digital touch points was accompanied by selective branch branch network.
expansion.
Equally significant, BCA offers comprehensive 24/7
Digital transactions drove most of transaction growth. The contact center support on multiple platforms, including
volume of mobile and internet transactions rose by 23.5% WhatsApp, web chat, email, X (formerly Twitter), and the
to reach 31.6 billion, accounting for 87.8% of the total Halo BCA app. On average, BCA handles over 107,000
transaction volume. Additionally, the number of mobile contacts daily across these platforms, providing customer
banking users reached 30.8 million users. Digital customer support and acquiring new customers.
transactions are powered by two distinct mobile banking
apps, BCA Mobile and myBCA. BCA Mobile continues Through multiple channels, BCA has been able to amplify
to command loyal users particularly among the older its large ecosystem and grow partnerships with online and
generation, while myBCA offers more comprehensive offline businesses across diverse sectors. Collaborations
features to meet the demands of the younger generation. are essential to expand ecosystem while providing
Online mobile banking transactions per user increased by enhanced benefits and services to BCA customers. BCA’s
25% YoY across both apps, demonstrating strong customer open platform seamlessly connects a broad range of
adoption. We are pleased to report that the myBCA app customer segments, from individuals to small business
has continued to gain fast acceptance in the market, with owners, retailers, and large corporates, thereby facilitating
a nearly 3 times in the number of users compared to a year business-to-business (B2B), business-to-customers (B2C)
ago. BCA’s online business banking platform and merchant and customers-to-customers (C2C). We relentlessly
transactions also experienced strong growth, contributing extend our ecosystem reach to untapped communities
to overall digital transaction volumes and supporting the which are connected to our existing customer base.
expansion of BCA’s ecosystem.
2024 Annual Report PT Bank Central Asia Tbk 27
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Board of Directors
Santoso Lianawaty Suwono Jahja Setiaatmadja
Director Director President Director
Frengky Chandra Kusuma Subur Tan Armand Wahyudi Hartono
Director Director Deputy President Director
28 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Vera Eve Lim Haryanto Tiara Budiman Antonius Widodo Mulyono
Director Director Director
Gregory Hendra Lembong Rudy Susanto John Kosasih
Deputy President Director Director Director
2024 Annual Report PT Bank Central Asia Tbk 29
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Loan growth expansion, tapping quality customers and In consumer lending, the BCA brand is top of mind for
new opportunities mortgages, auto financing, and credit cards. Throughout
We are committed to supporting financing needs across 2024, we offered competitive rates, aimed at attracting
corporate customers, commercial, SME and consumer more customers amidst modest market demand. We
segments. Corporate loans represented the largest portion acknowledge and appreciate the government’s policies
of the loan portfolio at 46.3%, followed by commercial and incentives, particularly the reduced Value Added
loans at 15.0%, SME loans at 13.4%, and consumer loans Tax program for mortgages. Online and offline marketing
at 24.3%. Sharia financing, although a smaller segment at campaigns, BCA Expoversary 2024 and BCA Expo Hybrid
Rp10.7 trillion, demonstrated growth at 18.9% YoY. In 2024, 2024, boosted mortgage acquisitions, generating Rp43
all of BCA’s loan segments experienced growth, up 13.8% trillion in applications. As a result, BCA mortgages grew by
YoY, surpassing the industry-wide loan growth rate. 11.2% YoY to Rp135 trillion.
In the corporate segment, BCA posted robust growth of On the auto financing front, partnerships with top car brands
15.7%, supported by a well-diversified portfolio across and over 400 dealers enabled BCA’s auto loans to grow by
sectors such as finance, telecommunications, food and 14.8% YoY. Similar to mortgages, events were effective in
beverage, transportation, consumer financing, automotive, driving demand, with BCA expos generating around Rp23
property construction, and edible oils. Adding to the trillion in auto loan applications in 2024. Demand came
existing portfolio, and in alignment with government policy from various regions, with new bookings from Java and
on resource downstreaming, BCA explored and disbursed Jakarta growing 7.2% and 11.6% respectively, while off-
loans to emerging industries such as nickel and aluminum. Java new bookings saw an increase of 19.1% YoY.
Several of our blue-chip customers also engaged in
these new areas of opportunity. Overall investment loans Personal loans, driven by credit cards, grew 12.8% YoY.
accounted for 65% of the corporate portfolio, while We partner with international principals to ensure global
working capital represented 35%. usability of BCA credit cards, while remaining the only bank
in Indonesia to offer proprietary cards under its own brand.
Since 2022, BCA has systematically enhanced its capacity BCA’s ability to compete in consumer loans reflects the
to support SME lending over the years. The credit processing strength of its brand and services.
times have been improved, and dedicated SME account
officers and risk management personnel have been added. BCA’s robust loan growth is balanced by proactive portfolio
Stronger transaction data analytics were performed to risk management. Asset quality has improved, as evidenced
generate business leads for both business and consumer by the declining Loan at Risk (LAR) ratio, which decreased
credits. As a result, BCA has been able to tap into a larger from 6.9% at the end of 2023 to 5.3% at the end of 2024,
base of transaction banking customers who previously down from a peak of 19.4% in the first quarter of 2021. BCA
had no credit lines with the bank and re-engage former maintained sufficient provisions for LAR coverage at 76.9%
borrowers. Targeted marketing and outreach efforts led to as of December 2024, compared to 69.7% in December
a notable increase in the SME portfolio, growing by 14.8% in 2023, with Non-Performing Loan (NPL) coverage at 208.5%
2024, exceeding the industry average. Growth was strong as of December 2024.
both on-Java and off-Java, with increases of 14.9% and
17.5%, respectively.
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Investing in key enablers, People and Information Cybersecurity measures have been continuously
Technology (IT) enhanced. BCA operates a 24/7 Security Monitoring
People and technology are essential for delivering the Center, consistently enhances data protection policies,
superior experience BCA customers expect. Therefore, and employs AI-driven solutions to detect anomalies and
BCA invests in workforce development, corporate culture, strengthen transaction security. Additionally, awareness
and IT capabilities, underlining service excellence as part programs for employees and customers are conducted to
of its core values. mitigate risks associated with social engineering and data
breaches.
A key priority for 2024 was grooming BCA’s leadership by
developing current and future leaders. Leaders from all These initiatives strategically position BCA to provide
functions joined the BCA LEADER+ program to strengthen reliable, secure, and advanced digital services to better
their leadership skills and align with BCA’s leadership values, serve its customers, while promoting an agile and innovative
particularly for young and talented new leaders. Programs workforce for sustained long-term success.
such as Transformational Leadership are offered to ensure
leaders are prepared for a future that demands continuous Strengthening Environmental, Social, and
innovation and transformation. BCA’s values and culture Governance (ESG) Implementation
are actively promoted among employees at every level In line with its position as a leader in the industry, BCA
to reinforce the solid teamwork across divisions, regional continued to uphold and strengthen ESG implementation
offices, and branches (“One BCA”). across its business and operations, ensuring long-term
value creation for all stakeholders.
Meanwhile, investment in IT infrastructure and
cybersecurity has significantly grown as customer BCA has developed and implemented key ESG measures
transactions increasingly shift digital. By the end of 2024, within its financing activities, including sectoral credit
BCA’s fourth data center became operational, enlarging policies for high environmental risk industries such as
the Bank’s data management capacity. BCA is among the the palm oil plantation industry, coal mining, toll road
few banks that own and operate their own data centers, a development, the cement & basic steel, timber and
critical advantage in supporting future digital transactions forest products. We maintain an exclusion list that targets
and strengthening IT governance and cybersecurity activities such as illegal logging, gambling, and violations
policies. of community rights. Credit proposal reviews consider the
environmental factor and conservation efforts of debtors.
The IT systems have been modernized by adopting an BCA actively monitors debtors’ commitment and risk
Open System platform and Microservices Architecture, mitigation plans, particularly for businesses with significant
improving agility and scalability. The IT division has risk of exacerbating climate change, forest destruction,
supported cost efficiencies through technologies such and decreased biodiversity.
as Robotic Process Automation, Artificial Intelligence and
Machine Learning to automate back-office functions and Following up on BCA’s first bottom-up climate risk stress
improve service quality. test (CRST) analysis last year, we continued to deepen our
analysis of our portfolio risk exposure to climate-related
issues. In 2024, we are on track to meet the Financial
Services Authority (OJK) guidelines for climate-related risk
assessment and mitigation by reporting CRST for 50% of
our portfolio.
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Expanding BCA’s Sustainable Financing Portfolio We continue to focus on improving energy efficiency
Demonstrating our firm commitment to grow sustainable in BCA buildings. In 2024, BCA’s Wisma BCA Foresta
finance, approximately 24.8% of the Bank’s total loan building became the first building in Indonesia to secure
portfolio has been disbursed to green financing and social the Green Mark Super Low Energy building certificate
financing. Total sustainable financing increased to Rp229 from the Building and Construction Authority of Singapore.
trillion, with Rp99 trillion allocated to Green Financing and Additionally, BCA’s Wisma BSB Semarang also obtained
Rp130 trillion to Social Financing. Platinum-level green building certification from the Green
Building Council Indonesia.
Within Green Financing, loans were directed toward
natural resources and sustainable land use, sustainable In waste management, BCA stepped up its initiatives to
transportation, and eco-friendly products, wastewater address various types of operational waste, including
management and renewable energy. The Bank continued electronic waste, expired archives and documentation,
its efforts to encourage sustainable palm oil practices and organic as well as non-organic waste. In nature
with certifications for ISPO and RSPO increasing across its conservation, BCA supported rehabilitation of four islands
palm oil loan portfolio. At the end of 2024, 76% of certified to provide safe habitats for orangutans, planted more than
palm oil debtors met national or international sustainability 51,500 seedlings of mangroves and other trees, and built an
standards. Another effort is promoting the transition to innovative sea turtles hatchery with a capacity of 15,000
low-carbon transportation by disbursing loans for electric eggs, successfully releasing 15,003 hatchlings.
vehicles (EVs). EV financing reached Rp2.3 trillion, up 84.2%
YoY. Through the four initiatives, BCA achieved total carbon
savings of approximately 4,216 tCO2 equivalent in 2024,
On the social financing side, BCA focused on developing up 40% compared to 3,021 tCO2 equivalent in 2023. BCA
local MSME businesses with a bigger attention on continuously improves the calculation of its bank-wide
supporting women-led MSMEs as part of our contribution carbon footprint including from its lending activities.
for promoting women’s empowerment. Financing to More information on BCA’s carbon mitigation progress is
women MSME debtors increased 16.4% YoY, reaching available in our 2024 Sustainability Report.
a value of Rp17.2 trillion with a total of 47,856 women
entrepreneurs as debtors. Giving Back, Doing More
BCA runs a series of programs to maintain a safe, pleasant
Managing Our Corporate Carbon Footprint working environment, and to enhance employee welfare.
As part of striving to become an environmentally friendly In 2024, BCA established a Sexual Harassment and Assault
company, BCA has taken consistent measures, focusing Prevention Unit and hosted a work safety and healthcare
on four key initiatives: digitalization of banking activities, program called Gebyar Bulan K3, raising employee
energy efficiency initiatives, waste management and awareness regarding occupational safety and overall well-
recycling, and nature conservation. being.
The biggest contribution to carbon savings has come BCA also remains steadfast in its mission to create lasting,
from the digitalization of BCA’s operations. By reducing positive impacts for communities through its “Bakti BCA”
paper consumption and physical mobility, digital adoption initiatives which date back to 1999, addressing critical areas
continues to lower carbon emissions across customer such as education, public health, economic development,
interactions and internal processes. and access to essential services.
32 PT Bank Central Asia Tbk 2024 Annual Report
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In 2024, BCA supported 30 villages across Indonesia, business. As we look to the future, BCA remains committed
helping local communities unlock their economic potential. to fostering positive change for the environment, society,
BCA also held health programs for underprivileged and all stakeholders as a responsible partner that strives to
communities across Indonesia. In total, BCA conducted create lasting value.
cataract surgeries for 1,010 patients, provided medical
assistance to 13,620 individuals, and facilitated blood Adhering to Good Corporate Governance
donation drives, collecting 2,211 bags of blood. Through Implementation of GCG is an essential factor in retaining
these efforts, BCA supported the well-being of these the trust of our diverse stakeholders. BCA adheres to
communities. rigorous compliance standards, fostering transparency
and upholding good of conduct in business and operation.
Education remains as an ongoing program, with the
Bakti BCA Scholarship providing one year of educational BCA’s high standards of corporate governance is
assistance to 700 students. In 2024, BCA also conducted reflected by its ASEAN Corporate Governance Scorecard
more than 1,000 financial literacy activities, participated (ACGS) classification as one of a select few ACGS
by over 230,000 individuals. ASEAN Asset Class Publicly Listed Companies. BCA’s
consistent adherence to strong governance practices
Through these targeted initiatives, BCA reinforces its won recognition from a number of prestigious institutions.
commitment to fostering a cycle of empowerment, Among others, BCA was named the Greatest Champions
enabling individuals, communities, and ecosystems to of GRC Excellence Performance 2024 and The Best Overall
thrive together and contribute to Indonesia’s Sustainable in Corporate Governance – IICD Corporate Governance
Development Goals (SDGs). Award 2024.
ESG Recognition Role of the Board of Directors in Formulating
BCA received multiple awards in 2024, recognizing the Strategies and Policies
Bank’s focus on sustainability and adherence to ESG The Board of Directors plays an integral role in developing
principles. On the global stage, MSCI ESG Ratings has and implementing BCA’s strategies and policies, ensuring
once again awarded BCA with an A Rating, reflecting its that they align with the Bank’s Vision and Mission while
strong performance across environmental, social, and addressing the evolving needs of its customers. On
governance dimensions. Additionally, BCA achieved a this regard, the Board set clear strategic directions by
score of 84.6 from Thomson Reuters – Refinitiv, the highest leveraging BCA’s core strengths to sustain business growth.
among Indonesian companies, with an A Rating. BCA
continues to be a component of the FTSE4Good ASEAN The Board set targets aligned with these objectives,
5 Index. On the Dow Jones Sustainability Index (CSA S&P and these targets are communicated throughout
Global), BCA received a score of 50 with a percentile rank the organization, reinforced by clearly defined Key
of 80 globally.
th
Performance Indicators (KPIs). The Board formulates
strategic initiatives and policies and cascades the targets
Domestically, BCA has been included in the SRI-KEHATI to be achieved by each business unit to drive alignment and
Index, ESG Quality 45 IDX KEHATI Index and ESG Sector accountability across the organization. Comprehensive
Leaders IDX KEHATI Index, which are key indicators of business plan is discussed with all business units, along
excellence in ESG performance within the Indonesian with critical enablers, such as staffing, technology and
market. These accolades serve as motivation to deepen our infrastructure requirements, and risk management to
efforts in embedding sustainability into every aspect of our ensure effective risk mitigation policies.
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Ensuring Execution and Implementation of Corporate
Strategy
Composition of the Board of Directors
The Board ensures corporate strategy execution through
The composition of the Board of Directors remained
effective communication across the organization,
unchanged throughout 2024. The Board of Directors
including business units, support functions, branches, and
expresses appreciation to the shareholders for their trust
subsidiaries.
and support in its efforts to achieve sustainable growth for
BCA and create long-term value for all stakeholders.
Work units and subsidiaries provide regular progress
reports to the Board. The Board is responsible for
Business Prospects
monitoring, providing feedback, and aligning the initiatives
Heading into 2025, we are optimistic yet cautious. Globally,
of various work units to achieve the overall goal. Reviews
key issues include the potential escalation of the US-China
and feedback loops focus on, among other business growth
trade war, ongoing conflict in the Middle East, the potential
aspect, risk management, customer engagement, digital
re-emergence of inflationary pressures, and supply chain
capabilities, service quality, and transaction security.
disruption risk, could impact emerging economies.
The Risk Management Unit and Internal Audit function
Indonesia’s Gross Domestic Product (GDP) growth is
support the Board in maintaining risk governance by
projected to remain resilient at around 5.0% in 2025,
monitoring daily operations and providing inputs on
mirroring the growth rate expected for 2024, though
credit and operational risks. Insights from these reviews
this projection may change based on various factors. On
guide corrective actions to ensure compliance with risk
interest rate outlook, Bank Indonesia intends to proceed
thresholds while staying focused on achieving the strategic
with caution, prioritizing macro stability and conducive
goals.
business environment for growth. Further adjustments
to the policy rate will be influenced by several variables
Performance of the Committees under the Board
including the Federal Reserve’s rate decisions, foreign
of Directors
investment flows, domestic economic growth and the
The Board of Directors is supported by seven committees:
Rupiah exchange rate.
Asset and Liability Committee (ALCO), Risk Management
Committee, Integrated Risk Management Committee,
Partnering with the Financial Services Authority (OJK), BCA
Credit Policy Committee, Credit Committee, Information
will proactively review the operating environment, and
Technology Steering Committee, and Personnel Case
to remain agile in adjusting business assumptions while
Advisory Committee. Over the year, the committees
adhering to the principle of banking prudence. Reflecting
effectively fulfilled their roles, providing advice and
the current conditions, moderate targets have been set for
recommendations to the Board. The Board periodically
2025, as follows:
held regular discussions with them to gain insights for
strategic decision-making.
Category 2025 Target
Gross Domestic Product 5%
Loan Growth 6% - 8%
Net Interest Margin (NIM) 5.7% - 5.8%
CIR (Cost to Income Ratio) 33% - 34%
Cost of Credit (COC) ~0.3%
Return on Asset (ROA) 3.6% - 3.8%
Return on Equity (ROE) 21% - 23%
34 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
In order to navigate the uncertainties of the upcoming We express our deepest gratitude to the Board of
year, we have built up strong capital reserves and ample Commissioners for their steadfast guidance, advice, and
liquidity. This would also position us to pursue opportunities generous support throughout the year. Their invaluable
should economic growth exceed expectations. Over insights have been critical to our strategic direction and
the long term, factors such as ongoing urbanization, significantly contributed to the Bank’s sustained success.
increasing customer sophistication, currently low banking Equally important, we acknowledge the essential role
penetration, and a rising population will likely drive demand played by our regulators, Bank Indonesia (BI) and the
for banking services. We have confidence in Indonesia’s Financial Services Authority (OJK). Their support and
future prospects and, as one of the country’s major banks, cooperation, particularly during periods of uncertainty,
we are committed to growing alongside the nation. have been vital to our continued growth and stability. We
are proud to collaborate with them as we navigate the
Gratitude for Your Trust evolving challenges within the financial sector.
As we conclude 2024, we would like to extend our sincere
appreciation to all our customers, partners, and employees Looking ahead, BCA remains steadfast in its commitment
for their continued trust and support in BCA. Your loyalty to reinforcing trust in the BCA brand. By maintaining
has been instrumental in shaping BCA into the robust and a focus on service excellence, good governance, and
dynamic institution it is today, and we are grateful for the ethical corporate citizenship, we aim to continue building
opportunity to serve you and earn your ongoing trust. a trusted and resilient institution that is “Always by Your
Side” (Senantiasa di Sisi Anda). Thank you once again for
your trust and support. We look forward to another year of
success, growth, and mutual progress in 2025.
Jakarta, February 2025
On behalf of the Board of Directors,
Jahja Setiaatmadja
President Director
2024 Annual Report PT Bank Central Asia Tbk 35
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Supervisory Report of
The Board of Commissioners
Djohan Emir Setijoso
President Commissioner
36 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
BCA posted excellent performance and
strengthened its foundation to support
future growth through strategic
investments in various key areas
Respected Stakeholders,
BCA closed 2024 with strong Outstanding Performance the remainder of 2024 after one
financial results, delivering a record- in a Moderate Operating downward adjustment in September
high net profit after tax of Rp54.8 Environment 2024. Indonesia’s inflation rate
trillion, a growth of 12.7% YoY. The The global economy in 2024 remained mild, and foreign exchange
Board of Commissioners recognizes experienced heightened uncertainty, reserves were at adequate levels,
the Bank’s achievement of robust driven by escalating geopolitical providing a buffer against external
loan growth across segments while tensions and government transitions shocks driven by global capital flows
managing a sound liquidity position in several countries, including in and foreign exchange risk. Indonesia’s
amidst stiff deposit competition. the United States. The outcome economy registered moderate
This accomplishment translated of the US presidential election growth of approximately 5% level in
into Rp445 earnings per share and a strengthened the US Dollar index, 2024. The country’s administration
respectable return on shareholders’ causing currencies in many emerging has launched several incentive
funds at 24.6%. BCA’s unwavering economies to weaken, on top of a packages to spur domestic economic
focus as a hybrid bank with robust high-for-longer interest rate outlook. growth, ranging from support for
multiple touch points has reinforced In addition, the Federal Reserve households to fiscal packages with
its role as a reliable partner in the Board’s slower-than-expected rate the purpose of stimulating SMEs
Indonesia’s banking industry, serving cuts led to unpredictable capital and domestic purchasing power,
a growing and increasingly diverse outflows globally. particularly for middle- to lower-
customer base. income brackets.
We appreciate that the Indonesian
authorities promptly responded to As a proxy of the macroeconomy,
these challenges by implementing Indonesia’s banking sector displayed
prudent measures which prioritized resilience amidst tightening
macro stability. To safeguard the liquidity. As loans outgrew deposits
IDR exchange rate, Bank Indonesia throughout the year in a high interest
put a pause on its rate cut plan for rate environment, the banking
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Board of Commissioners
Raden Pardede Djohan Emir Setijoso Sumantri Slamet
Independent Commissioner President Commissioner Independent Commissioner
Cyrillus Harinowo Tonny Kusnadi
Independent Commissioner Commissioner
38 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
system experienced intense competition for funding, physical and digital networks. Enhancements to customer
compelling banks to raise third-party deposits pricing, experience, firm execution on all channels, and targeted
and thus, impacting earnings. Despite these headwinds, outreach had successfully boosted customer engagement
by leveraging its extensive ecosystems, BCA successfully during the year. On average, BCA processed more than
attracted and retained low cost CASA deposits that 98 million transactions on a daily basis throughout 2024, a
contributed around 82% of the Bank’s total third-party reflection of BCA’s service excellence.
funds. BCA was therefore able to maintain a strong
liquidity buffer and manage the cost of funds effectively, Leveraging its large customer base, the Bank further
allowing the Bank to lend at competitive pricing. The Bank expanded its ecosystem, reaching new communities
registered broad-based loan growth of 13.8%, higher than and untapped value chains that are connected to its
the industry average of 10.4%. The combination of solid existing network of clients. Collaborations with other
credit and funding performance increased net interest ecosystems have been seamlessly supported by open
income by 9.8% to Rp82.3 trillion, contributing around 76% platform interconnectivity. These efforts were proven to
to the Bank’s total operating income. be fruitful as BCA has been able to attract over 15 million
new customers in the last five years.
BCA’s prudent approach ensured that strong loan
growth was accompanied by an emphasis on quality and BCA has focused on strengthening its IT infrastructure,
diversification. The Loan at Risk (LAR) ratio improved, transaction channels, and human resources to bolster its
with ample NPL coverage of 208.5% at the end of 2024. business fundamentals. Key areas of investment include a
Simultaneously, discipline in cost management was new data center that commenced operation in late 2024,
enforced, resulting in a lower Cost to Income Ratio of 31.5% cybersecurity, workforce training, and systematic process
compared to 34.1% a year ago. Overall, BCA delivered improvements. In 2024, the total capital expenditure
exceptional results across key metrics, from operating reached Rp4.3 trillion, in which is mostly was IT-related
income line to the bottom line with a robust financial spending.
position.
To deliver sustainable loan growth, the Board of Directors
Assessment of the Performance of the Board of explored opportunities in the corporate segment,
Directors particularly in minerals and resources downstreaming, in
The Board of Commissioners commends the Board of alignment with the government’s focus on developing the
Directors on the sound 2024 financial results, which are added-value economy. These initiatives were carefully
attributable to the Board of Directors’ successful efforts in evaluated to balance growth aspirations with prudent risk
navigating the dynamic operating environment, delivering management practices. Quality underwriting is pivotal for
broad-based quality loan growth and further strengthening the Bank to maintain a robust loan portfolio over the long
BCA’s transaction banking franchise. run.
It is worth noting that these accomplishments were not In the SME segment, various investments have been made
achieved without overcoming challenges. The Board of over the past three years to enhance capacity and products
Directors had to address diverse issues, among others to better serve SME players. The Board of Commissioners
keeping up with rapid technological change, cyber-attack is pleased to see that stronger SME loan growth has been
threats, sustaining stable asset quality, and regeneration paired with quality. The consumer loan segment also posted
of human resources. We are delighted to see that these a strong increase across mortgages, auto financing, and
challenges were well managed overall and the Bank’s credit cards. The outstanding performance in both SME
key initiatives were effectively executed. The Board of and consumer lending was attributable to more in-depth
Commissioners supports the Bank’s strategic priorities, business leads, data analysis and outreach. Both SME and
which focus on a convenient and reliable transaction consumer loan growth were solid across Indonesia, which
platform, a hybrid business model, strengthening IT bodes well for future expansion in diversified geographies.
capabilities and cyber security, people development, and
quality loan growth. The Board of Commissioners advises that the Bank should
maintain strong capital and adequate liquidity to navigate
To embrace evolving customer needs in payment and rising global and domestic uncertainties, while laying the
settlements, BCA introduced a number of new features foundation for future sustainable and high-quality loan
to expand on its past offerings. BCA’s transaction engine growth.
has delivered higher transaction frequency on both its
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Sustainable Finance and Climate Resilience efficient buildings. These efforts align with Indonesia’s
Commitment broader sustainability goals of inclusive economic growth
As part of building a sustainable banking business and and net zero carbon by 2060, reaffirming BCA’s role as a
contributing to national targets, BCA is committed to responsible corporate citizen.
supporting green economy initiatives and addressing
climate-related risks. The management has proactively Oversight of BCA’s Strategy & Implementation
explored opportunities in this field by growing the The Board of Commissioners actively monitored BCA’s
sustainable finance portfolio by 12.5% to Rp228.6 trillion, strategic direction and execution throughout the year,
accounting for 24.8% of BCA’s total loan portfolio. ESG ensuring that the Bank remained aligned with its long-
factors are now part of BCA’s credit process, in line with term objectives in an increasingly volatile operating
regulator guidance and industry best practices. environment. Regular reviews of key initiatives allowed
the Board to provide guidance and constructive feedback
Green financing initiatives and social financing, especially through in-person and hybrid format meetings and
for small-scale women entrepreneurs, gained traction in communications on critical areas, including business
2024. We see both as potential opportunities for growth strategy, risk management, audit, and compliance.
with either social or environmental impact. In parallel, the
Board of Directors pursued various initiatives to manage In 2024, the Board of Commissioners held 44 meetings and
the Bank’s carbon footprint, including waste reduction 6 joint meetings with the Board of Directors. The followings
and recycling programs, and investments in energy- were the area of discussions with the Board of Directors:
Topic Actions by the Board of Commissioners
Business Strategy & • Oversaw business progress and operations, while monitoring the operating
Management environment throughout 2024, covering a variety of macroeconomic parameters,
interest rate movement and competition.
• Provided inputs on the Bank’s strategic direction to the Board of Directors. Touched
base on how the business model can remain relevant in a dynamic environment, taking
into account changes in transaction behavior, digital evolution, competition in the
payment system and shifting customer demographics. The Board of Commissioners
noted continuous development in IT and human resources.
• Reviewed policies related to lending limits particularly for the industries to which
BCA has increased its exposure, and assessed credit disbursement to top obligors to
manage concentration risk.
• Oversaw asset management and allocations. Supervised corporate budget on both
sides of revenues and costs as well as provided feedback through periodic reviews.
Risk Management • Monitored and assessed risk profile, integrated risk management implementation and
capital structure.
• Held regular discussions with IT division and Risk Management Unit, and monitored
cyber risk in the banking sector and BCA.
• Held discussions with external parties, and reviewed the duties and responsibilities of
BCA’s Board of Commissioners from time to time.
• Monitored global macroeconomic condition and banking trends, and evaluated BCA’s
liquidity strength and capital adequacy in the event of significant disruption.
• Monitored and reviewed Risk Appetite Statement of the Bank.
• Approved the Recovery Plan and the Resolution Plan of the bank.
Audit & Compliance • Monitored and reviewed the scope of audit.
• Monitored internal audit assessments on work units and branch performance.
40 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Evaluation of Corporate Governance wide range of risk factors, including credit quality, market
Implementation volatility, and operational risks, and provided guidance on
In the opinion of the Board of Commissioners, the maintaining a strong liquidity position and asset quality.
management effectively adhered to and implemented
good corporate governance (GCG) practices throughout The Remuneration and Nomination Committee provided
the Bank’s day-to-day operations. The Board of Directors recommendations on BCA’s remuneration policies
consistently upheld the principles of transparency, and talent management strategies. The committee
accountability and fairness, ensuring that BCA’s operations also oversaw talent mapping efforts to strengthen the
remained compliant with regulatory requirements and leadership pipeline for overall organizations.
responsive to stakeholder expectations. Under the ASEAN
Corporate Governance Scorecard (ACGS) criteria, the The Integrated Governance Committee focused on
Bank’s GCG implementation received a ‘Very Good’ rating, ensuring the implementation of integrated governance
reaffirming its compliance with international standards. across BCA and its subsidiaries. By closely monitoring
compliance with governance principles, the committee
The Board of Commissioners closely monitored the Bank’s promoted sound business practices across the organization,
risk management framework as part of upholding rigorous reinforcing BCA’s commitment to transparency and
GCG practices, with particular attention on emerging accountability. More information on these committees is
risks such as cybersecurity threats and global economic available in the Good Corporate Governance Chapter of
volatility. BCA’s holistic approach to managing risk ensured this report on pages 324-325.
that the Bank remained resilient, with ample liquidity buffers
and loan portfolio diversification to mitigate potential risks. Composition of the Board of Commissioners
The composition of the Board of Commissioners was
Observations on the Whistleblowing System unchanged in 2024.
BCA’s whistleblowing system is an important mechanism
for maintaining ethical and transparent business practices. On 16 December 2024, I formally submitted my resignation
Supervised directly by the Board of Commissioners, the as the President Commissioner of BCA, proposing an early
system functioned smoothly in 2024, enabling internal as retirement from my original 5-year term of 2021 - 2026.
well as external stakeholders to report fraud or violations Upon this request, the Bank revisited its succession plan,
confidentially. and the Remuneration and Nomination Committee will
nominate a suitable successor, taking into account the track
Assessment of Committees under the Board of record, experience, and competency of the candidates.
Commissioners BCA’s Annual General Meeting of Shareholders (AGMS)
The Board of Commissioners is supported by four key will determine the last effective date of my President
committees: the Audit Committee, the Risk Oversight Commissioner tenure.
Committee, the Remuneration and Nomination Committee,
and the Integrated Governance Committee. Each Assessment of the Board of Directors’ Evaluation
committee performed its duties satisfactorily in 2024, of Business Prospects
supporting the implementation of good governance. We fully support the Board of Directors’ cautiously
optimistic outlook for 2025, taking into consideration the
The Audit Committee reviewed key matters pertaining potential spillover of global uncertainties to emerging
to financial reporting, internal control systems, and economies, including Indonesia.
regulatory compliance, ensuring that BCA’s operations
are aligned with regulatory standards and internal policies. Indonesia’s economy is projected to grow moderately
The Committee also addressed instances of fraud and in 2025 at approximately 5%, a similar level as in 2024.
provided feedback to the Board. We expect the financial authorities to take proactive
measures to navigate global challenges, with the
The Risk Oversight Committee actively monitored the objective of maintaining a conducive domestic economy.
Bank’s risk management framework, ensuring that BCA’s These policies will take into account various factors,
policies and practices were adequate to address evolving including inflation, the pace of economic growth, the
market conditions. In 2024, the committee assessed a trajectory of the US Federal Reserve policy, and the
2024 Annual Report PT Bank Central Asia Tbk 41
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Rupiah’s stability. We concur with the Board of Directors’ Closing Remarks
view to set realistic business assumptions in the Bank’s Having concluded the year with strong performance, it is
Business Plan (RBB) in line with the pace of the economy. critical that the Bank remains well-positioned to navigate
potential challenges ahead, globally as well as domestically.
We think it will be imperative for the Board of Directors to We believe that these challenges will also bring about
balance their targets with prudent measures so as to be opportunities for growth, innovation and collaboration.
able to navigate possible shocks with the support of sound
risk management. In parallel, the Board of Directors must It has been an incredible honor for me to serve as the
remain agile, so as to capitalize on upside opportunities President Commissioner over the past 14 years, following
should growth exceed expectations. my tenure as the President Director since 1999. It has been
a privilege to witness the remarkable transformation and
The Bank’s strategic priorities for 2025 include maintaining sustainable business growth of the Bank, accompanied
quality loan growth, enhancing digital capabilities, and by a culture of prudent and good governance. I am
expanding the ecosystem through partnerships and deeply grateful for the opportunity to work alongside
customer acquisition. We further encourage the Board incredibly talented individuals, as part of a team that values
to continue investing in key areas such as digitalization, collaboration and innovation. I wish the Bank continued
cybersecurity, and human capital, to preserve BCA’s long- success and pledge my full support in ensuring a smooth
term growth trajectory. We are confident that BCA will transition.
uphold its excellent customer experience and maintain its
position as a leader in the Indonesia’s banking industry. Lastly, on behalf of the Board of Commissioners, I would like
to extend our heartfelt gratitude to customers, regulators,
all members of the Board of Directors, employees and
shareholders for their trust and unwavering support, which
has propelled BCA’s strong performance. With the support
from all these parties, we believe BCA will thrive and deliver
sustainable value creation for years to come.
Jakarta, February 2025
On behalf of the Board of Commissioners,
Djohan Emir Setijoso
President Commissioner
42 PT Bank Central Asia Tbk 2024 Annual Report
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Company General Information
Name Line of Business Ownershipn
PT Bank Central Asia Tbk Commercial Bank PT Dwimuria Investama Andalan 54.94%
Public 45.06%
Establishment Legal Basis for Establishment
10 October 1955 Deed of Establishment of the Company No. 38 by Notarial
Deed Raden Mas Soeprapto dated 10 August 1955.
Approved by the Minister of Justice with Decree No.
J.A.5/89/19 dated 10 October 1955.
Authorized Capital Change of Name
Rp5,500,000,000,000 Previously, the Company was named
(440,000,000,000 shares) NV Perusahaan Dagang Dan Industrie
Semarang Knitting Factory. Effective since
2 September 1975, the Bank’s name was
Issued and Fully Paid Up Capital changed to PT Bank Central Asia (BCA).
Rp1,540,938,125,000
(123,275,050,000 shares) Headquarter
Menara BCA, Grand Indonesia
Jl. M.H. Thamrin No. 1
Jakarta 10310, Indonesia
Tel. (+62 21) 2358 8000
Stock Exchange Fax. (+62 21) 2358 8300
The shares of PT Bank Central Asia
Tbk are listed and traded on the Networks
Indonesia Stock Exchange (IDX) 1,264 branches, 19,543 ATMs, and hundreds of
thousands of EDCs (Information of branch locations
can be found in the Branches section of this report, on
Listing Date pages 112-114)
31 May 2000
Subsidiaries
• PT BCA Finance
Share Code • PT BCA Syariah
BBCA • PT Bank Digital BCA
• PT BCA Sekuritas
• PT Asuransi Umum BCA
ISIN Code SWIFT Code • PT Asuransi Jiwa BCA
ID1000109507 CENAIDJA • PT Central Capital Ventura
• BCA Finance Limited
(Information of subsidiaries address can be found in the
Total Employees Information on Subsidiaries section on pages 101-103)
26,532
Company Website Call Center
www.bca.co.id Halo BCA 1500888
www.klikbca.com halobca@bca.co.id
Corporate Communication, Investor Relations, ESG
• Corporate Communications Tel. (+62 21) 2358 8000
• Investor Relations Fax. (+62 21) 2358 8300
• Environment Sustainability and Governance E-mail: corcom_BCA@bca.co.id
Menara BCA, 20th Floor, Grand Indonesia, investor_relations@bca.co.id
Jl. M.H. Thamrin No. 1 corporate_governance@bca.co.id
Jakarta 10310, Indonesia
44 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Line of Business
In 2023, BCA carried out banking business and activities with consideration to the Bank’s Articles of Association. Based on
Article 3 of its Articles of Association, BCA as a Commercial Bank may engage in the following business activities:
a. to raise public funds in the forms of deposits such k. to provide factoring (anjak piutang), credit card and
as checking accounts (giro), time deposits, deposit trusteeship services;
certificates (sertifikat deposito), savings and/or any l. to provide financing and/or conduct business activities
other deposits of similar nature; under the Sharia Principle, whether through the
b. to provide credit facilities; establishment of a subsidiary or through formation of
c. to issue debt acknowledgement letters; a Sharia Business Unit in accordance with the rules and
d. to purchase, sell or underwrite, whether at its own risk regulations issued by the central bank (Bank Indonesia)
or for the benefit of or at the request of its customers, or the Financial Services Authority or any other
the following: competent authorities.
i. Drafts, including drafts accepted by a bank with a m. to carry out foreign exchange activities in accordance
validity period not more than the period generally with the rules and regulations issued by the central bank
applicable in normal practice for the trading of such (Bank Indonesia) or the Financial Services Authority or
instruments; any other competent authorities;
ii. debt acknowledgement letters and other n. to conduct capital participation in a bank or any
commercial papers, with a validity period not other company in the financial sector, such as a
exceeding the period generally applicable in normal leasing company, venture capital company, securities
practice for the trading of such instruments; company, insurance company, and the clearing,
depository and settlement institution, subject to the
iii. State treasury notes and government guarantees;
rules and regulations issued by the central bank (Bank
iv. Bank Indonesia Certificates (SBI);
Indonesia) or the Financial Services Authority or any
v. Bonds;
other competent authorities;
vi. Commercial papers with maturity periods, in
o. to conduct temporary capital participation for the
accordance with the prevailing laws and regulations;
purpose of dealing with credit failures, provided that
vi. Other negotiable papers with maturity periods, in such participation must be later withdrawn, subject
accordance with the prevailing laws and regulations. to the rules and regulations issued by the central bank
e. to transfer funds, whether for its own benefit or for the (Bank Indonesia) or the Financial Services Authority or
benefit of its customers; any other competent authorities;
f. to place funds at, to borrow funds from, or to lend funds p. to act as the founder (pendiri) and manager (pengurus)
to other banks, whether by letter, by telecommunication of a pension fund in accordance with the existing rules
equipment, or by bearer draft, cheque or by any other and regulations on pension funds; and
means; q. to engage in other activities generally conducted by
g. to receive payments of receivables from commercial banks to the extent permitted by the prevailing laws
papers and make calculations with or among third and regulations, including among others, any measures
parties; for the purpose of restructuring or credit rescue, such
h. to provide a safe deposit box facility for safekeeping of as acquiring collateral, whether in part or in whole, by
valuable goods or documents; auction or by other means, if a debtor defaults on its
i. to engage in custodial activities for the benefit of other obligations to the bank, provided that the collateral so
parties under a contract; acquired must be realized upon as soon as practicable.
j. to conduct a placement of funds from one customer
with another customer in the form of commercial
papers not listed on the stock exchange;
2024 Annual Report PT Bank Central Asia Tbk 45
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Line of Business - continued
BCA maintains a strong position in the national banking industry. However, the entire industry, including BCA, is
currently undergoing a rapid digital transformation. BCA sees that digital technology enables individuals worldwide to
accomplish various tasks with ease, convenience, and speed. BCA keeps up with changing trends in digital technology,
consumer behavior, and the business environment.
Various initiatives have been implemented to create new opportunities amidst these changes, secure the company’s
future growth, and provide added value for BCA’s stakeholders.
INNOVATION FOR THE CONVENIENCE & SIMPLICITY OF CUSTOMERS’ TRANSACTION
Application Programming
myBCA Welma in myBCA Lifestyle
Interface (API)
myBCA is a digital Welma is an investment Lifestyle is a feature on BCA API is a technology that
platform accessible by management and mobile that allows customers connects the system from
BCA customers through protection that makes it to buy airplane & train tickets, the company partner directly
smartphone application easier for customers to voucher game and make with the BCA banking system,
or website on desktop transact mutual funds, hotel reservations. as a payment and collection
in which customers only bonds and insurance. solution, for Business to
need a single user ID (BCA Business (B2B) and Business
ID) to access all of their to Customer (B2C). With this
account information and Halo BCA Mobile technology, the potential for
make various banking Application Online Account online business growth in the
transactions. Opening BCA payment ecosystem can
be further optimized.
Halo BCA Mobile application
is a mobile app that can be Online Account Opening is a
downloaded by BCA or non feature on BCA mobile that
BCA customers from their makes it easy for customers
gadget to communicate with to open an account anytime
Halo BCA online via Voice and anywhere.
over Internet Protocol (VoIP)
call, e-mail, chat, and social
media.
BCA Merchant
Foreign Exchange
Application
Pocket in myBCA
The BCA Merchant Application is a comprehensive platform for
This feature is a wallet with a choice of 16 foreign currencies
merchant partners, designed to simplify financial transactions,
that are linked to a single account. With this feature, customers
enhance operational efficiency, and support business growth.
can perform transactions in foreign currencies anytime and
Key features of the application include: Merchant Care, User
anywhere. Debit transactions and cash withdrawals abroad
Management, Real-Time Transaction Notifications, Multi-
in foreign currencies are directly deducted from the Foreign
Settlement (up to four settlements per day) for QRIS BCA
Exchange Pocket balance without currency conversion to
transactions, and EDC or Static QRIS Application submission.
rupiah.
Virtual Account BCA Cardless Cash BagiBagi Debit Online
Withdrawal / Deposit Mastercard
The BCA Virtual Account is Cardless Cash Withdrawal/ BagiBagi is a feature on This new features
a dedicated account which Deposit is a feature on BCA the BCA mobile to share provides customers
serves as a billing payment mobile that allows users money with family/relatives/ with two benefits at the
platform for customers of to withdraw/deposit cash friends who have the Sakuku same time, namely easy
companies who are partners without an ATM card. application, during holidays and various transaction
of BCA. This feature makes or as a token of appreciation. control.
it easier for these company The amount of money
to identify incoming fund distributed can be equally or
transfers. randomly distributed.
46 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
INNOVATION FOR SUCCESSING CUSTOMERS’ BUSINESS
BCA Cash
BCA KlikPay
Management Services
BCA Cash Management Services provide the right solution for corporate cash flow BCA KlikPay is a feature
management that is integrated with the business community. on BCA internet banking
(KlikBCA) as a practical and
In addition, BCA Cash Management will expand collaborative digital strategic reliable way to pay for online
partnerships to create a seamless ecosystem that will increase customer shopping, for customers who
convenience and simplicity in transacting various company activities such as have KlikBCA or BCA Card
managing financial flows; support business decision making; and optimizing facilities.
company profits can be done easily, quickly and precisely.
BCA Cash Management features include:
1. Payable Management:
• Payroll
Donations and Zakat
• Auto Credit via BCA mobile
• Cash Delivery
• Bill Payment Payments for donations
• Tax Payment and zakat through NU Care-
• Outward Remittance LAZISNU are now more
• BCA Visa Corporate convenient than ever using
• Fleet Facility the Lifestyle feature in BCA
Mobile.
2. Receivable Management:
• Autodebet
• Autocollection
• BCA Virtual Account
• Cash Pick Up
eBranch BCA
• Inward Remittance
• Payment Gateway
• Business to Business (B2B)
eBranch BCA is an
• Business to Consumer (B2C)
application that makes
transactions easy for
3. Liquidity Management:
prospective and/or
• Account Sweeping
BCA customers, with its
• Automatic Transfer System
main feature is e-forms
• Opening a Corporate Current Account
for opening accounts,
reservations, and
4. Host to Host
others.
Virtual Assistant OneKlik
Chat Banking (VIRA)
VIRA is an application that is able OneKlik is a feature on BCA internet
to provide interactive and real time banking (KlikBCA) that simplifies the
information, both financial and non- online shopping payment process to
financial, using Chatbot technology be faster and easier, with the source
developed through machine learning. of funds coming from a BCA account.
Aside from other payments, OneKlik is
widely used to top up electronic money
on various digital applications. This is an
alternative for Virtual Accounts.
2024 Annual Report PT Bank Central Asia Tbk 47
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Milestones
1955 1999 Corporate actions
highlights in 2000-2005
Bank Central Asia (BCA) founded as BCA was fully recapitalized with the
“NV Perseroan Dagang Dan Industrie Government of Indonesia, through IBRA,
Semarang Knitting Factory.” assuming ownership of 92.8% of BCA 2000
shares in exchange for liquidity support IBRA divested 22.5% of its BCA
from Bank Indonesia and a swap of related- shares through an Initial Public
party loans for Government Bonds. Offering, reducing its ownership of
1957 BCA to 70.3%.
2001
BCA commenced operations on
21 February 1957 with Head Office
2007 In a Secondary Public Offering, 10%
located in Jakarta. of BCA’s total shares were made
BCA became a pioneer in introducing
available to the market. IBRA’s
fixed-rate mortgage products. BCA
ownership of BCA decreased to
launches its stored-value card, Flazz
60.3%.
1970’s Card, and introduced Weekend Banking
to maintain its transaction banking
Effective on 2 September 1975 the name of
leadership. 2002
FarIndo Investment (Mauritius)
the Bank was changed to PT Bank Central
Limited acquired 51% of BCA’s
Asia (BCA).
shares through a strategic private
BCA strengthens its delivery channels and
2008-2009 placement.
obtained a license to open as a Foreign
Exchange Bank in 1977. BCA proactively manages its lending 2004
and liquidity position in the face of IBRA divested a further 1.4% of its
unprecedented global turbulence
BCA shares to domestic investors
while continuing to strengthen the core
1980’s transaction banking franchise.
through a private placement.
BCA aggressively expanded its branch BCA completes the setting up of a mirroring 2005
network in line with the deregulation of the IT system to strengthen business continuity The Government of Indonesia
Indonesian banking sector. and reduce operational risk. through PT Perusahaan Pengelola
Aset (PPA), divested the remaining
BCA developed its information technology BCA introduces Solitaire, a new banking 5.02% of its BCA shares and no
capacity, by establishing an online system service for high net-worth individual
for its branch office network, and launches longer has share ownership in BCA.
customers.
new products and services including the
Tahapan BCA savings accounts product.
Note: There has been dilution effect
to existing shareholders as new shares
2010-2013 were issued in accordance with the
1990’s Management Stock Option Plan, in
which stock options were executable
BCA entered new lines of business including in the period from November 2001 to
BCA develops the Automated Teller Machine Sharia banking, motorcycle financing, November 2006
(ATM) network as an alternative delivery general insurance and the capital markets
channel. business. In 2013, BCA increased its
effective ownership from 25% to 100%
In 1991, BCA installed 50 ATM units in various in its general insurance arm PT Asuransi
locations in Jakarta. Umum BCA (formerly PT Central Sejahtera Business development
Insurance and also known as BCA Insurance).
BCA intensively develops the ATM network in 2000-2005
and features. BCA strengthened its transaction banking
through further development of innovative BCA strengthens and develops its
BCA works with well-known institutions, products and services, notably with products and services, especially
such as PT Telkom and Citibank, allowing mobile banking applications in the latest in electronic banking, by launching
BCA’s customers to pay their Telkom phone smartphones, with payment settlement Debit BCA, Tunai BCA, KlikBCA
bill or Citibank credit card bill through BCA services through e-commerce, and through internet banking, m-BCA mobile
ATMs. a new concept of Electronic Banking Center banking, EDCBIZZ, etc.
which equips ATM Centers with additional
technology-backed features. BCA establishes a Disaster
1997-1998 Enhancing the reliability of its banking
Recovery Center in Singapore.
BCA experiences a bank rush during the services, BCA completes a new Disaster BCA develops expertise in lending,
Indonesian economic crisis. Recovery Center (DRC) facility in Surabaya including expansion into vehicle
which functions as a disaster recovery financing through its subsidiary,
backup data center, integrated with the BCA Finance.
In 1998 BCA became a Bank Take Over (BTO)
and was placed under the recapitalization current two mirroring data centers. The
and restructuring program operated by the new DRC replaced the previous DRC in
Indonesian Bank Restructuring Agency (IBRA), Singapore.
a Government Institution.
48 PT Bank Central Asia Tbk 2024 Annual Report
Page 51
Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
2014-2016 2020-2022
BCA developed myBCA, a self-service digital BCA’s online account opening services transformed how the bank operates in
banking outlet; expanded cash recycling the midst of COVID-19. In addition, BCA also launched Lifestyle feature on its
machine-based ATM networks; and launched mobile app and BCA Virtual Showroom to facilitate customer interaction and
the Sakuku app-based electronic wallet. information access.
The Bank’s cash management services for The bank continued to implement the Future Branch business model and
institutional customers were enriched on advanced service model to meet evolving customer needs.
internet banking platforms, the KlikBCA
integrated business solution. This service BCA introduced the myBCA application, a digital platform allowing customers
provides features to meet the needs of to perform seamless banking transactions via smartphones or desktop
business customers. websites. In addition, BCA also launched the Merchant BCA application to
help merchants monitor and manage their businesses, as well as the HaloBCA
In January 2014, BCA purchased shares in application, enabling customers to contact HaloBCA online via VoIP, email,
PT Central Santosa Finance (CS Finance), a chat, and social media. In 2022, BCA enhanced the security of myBCA with
two-wheeler financing company, increasing biometric features and added an instant top-up feature for mortgage (KPR).
the Bank’s effective ownership from 25%
to 70%. BCA also obtained permission to BCA renamed Bank Royal as BCA Digital Bank.
provide life insurance services through
PT Asuransi Jiwa BCA (BCA Life). The bank completed a 100% acquisition of Rabobank shares (direct and
indirect) and subsequently merged Rabobank with BCA Syariah.
In its role as a major gateway and perception
bank, BCA participated in the successful
implementation of the government’s tax
amnesty program from July 2016 to March
2017. 2023-2024
BCA continues to develop the super app myBCA to strengthen
digital transactions and provide a holistic customer experience
through an omni-channel approach, while integrating the
2017-2019 WELMA application into myBCA.
BCA fostered collaboration with fintech BCA consistently innovates to deliver the best and most up-to-
and e-commerce companies through its date products and services to customers. Since 2023, the BCA
Application Programming Interface (API)
Mastercard Debit Card has been equipped with contactless
platform, enabling seamless connectivity
between partner systems and BCA’s systems. features, enabling customers to make transactions without
requiring a PIN.
BCA continuously innovated to simplify
customer transactions via applications such Supporting regulatory initiatives to collaborate on building
as BCA Mobile, online account opening payment connectivity in ASEAN, BCA has introduced QRIS
services, Sakuku, OneKlik, Welma Digital
cross-border services in BCA mobile, which are currently
services, Flazz 2.0, and QR Code-based peer-
to-peer transfer features available in three countries: Thailand, Malaysia, and Singapore.
Leveraging artificial intelligence technology, BCA also strengthened its credit infrastructure through human
BCA developed ‘VIRA,’ a Virtual Assistant resource development, various automation initiatives, and
accessible through popular chat applications. adjustments to credit procedures. To support government
programs that aim to add value for commodities, BCA has
BCA renewed its agreement with
PT AIA Financial (AIA Indonesia) in 2017, to extended credit to the downstream mining and metal sectors.
expand the scope of collaboration in the BCA is committed to support infrastructure development in
bancassurance sector. Indonesia through syndicated loans.
BCA acquired 100% effective ownership of In 2024, BCA launched the Poket Valas digital service in the
Bank Royal in 2019.
myBCA application, offering access to 16 foreign currencies.
BCA increased its ownership in subsidiaries
CS Finance, BCA Sekuritas, and BCA Life To help merchants efficiently meet their business needs, fund
during 2017, to strengthen integration and disbursement for payments via QRIS at Merchant BCA app can
enhance business collaboration with these now be conducted four times a day.
subsidiaries.
Merger of BCA Multi Finance with BCA Finance brings together
the best potentials of both companies. It is expected that BCA
Finance, as the merged company, will strengthen the BCA
Group’s position in Indonesia’s financing sector.
2024 Annual Report PT Bank Central Asia Tbk 49
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Event Highlights 2024
1
25 January 4
29 February 5
2 March
Supporting National Economic Growth, BCA Achieves Robust BCA Held the 2024 BCA BCA Launches “Merchant
Credit Growth Across All Segments Expoversary BCA” Application,Enabling
FY23 Results: BCA and its subsidiaries concluded 2023 with a solid Celebrating its 67th Anniversary, Business Players to Become
13.9% year-on-year (YoY) growth in total credit, surpassing the BCA hosted the BCA Expoversary Multitaskers
industry average. On the profitability front, the net profit of BCA 2024 from February 29 to March BCA introduced the Merchant
and its subsidiaries increased by 19.4% YoY, reaching Rp48.6 trillion 3, 2024, BCA held the BCA BCA application, a cutting-
throughout 2023. Expoversary 2024 at ICE BSD, edge solution tailored to
offering an array of exclusive empower businesses of all
27 January
deals. Highlights included BCA sizes, including Micro, Small,
2 mortgage loans (KPR) with a and Medium Enterprises
2.6% effective annual interest (MSMEs). The application
rate fixed for one year, special offers a range of advanced
Signing Cooperation agreement with Jamkrindo, BCA is interest rates and promotions features, such as Merchant
Committed to Promote Quality KUR Disbursement for BCA vehicle loans (KKB) with Care, User Management,
BCA has forged a strategic partnership with PT Jaminan Kredit 0% down payment, special Real-Time Transaction
Indonesia (Jamkrindo) to foster the development of micro, small, motorcycle loan promotions with Notifications, and the
and medium enterprises (MSMEs) and accelerate economic down payments starting at 0% capability to apply for Static
growth in Indonesia through the implementation of KUR (People’s of the on-the-road price, and a EDC or QRIS services.
Business Credit) guarantees. variety of premier products from
BCA Solutions. Attendees could
3
25 February also explore appealing offers on
gadgets, fashion, beauty, travel,
and high-quality local products
from BCA’s “Bangga Lokal”
BCA Recycles 12.2 Tonnes of Uniform Waste
MSME initiative. Additionally, the
During 2023, BCA collected 12.2 tons of uniform waste for
BCA Expoversary was available
recycling. About half of the collected uniform waste has been
online via the official website
processed to produce 36,000 metres of recycled fabric which
at https://expo.bca.co.id from
was released on 25 February 2024.
February 29 to March 31, 2024.
1 2 3
4 5
50 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
6 7
8 10 11
9
6
9 March 9
18 April 10
22 April
Wisma BCA BSB Building Achieves Green Building Certificate In celebration of Kartini BCA’s Credit Grows by
Wisma BCA BSB Semarang has received Green Building Certificate Day, BCA presents special 17.1%, Delivering Solid
from the Green Building Council Indonesia (GBCI). Established in interest rate starting Performance Across All
2021, Wisma BCA BSB Semarang is the second BCA building to from 3.21% for women Segments
obtain a Green Building certificate after Wisma BCA Foresta in the entrepreneurs BCA and its subsidiaries
BSD area, Tangerang. In commemoration of Kartini recorded a 17.1% year-on-year
Day, which falls on 21 April, (YoY) increase in total loans,
BCA presented the Kartini reaching Rp835.7 trillion as of
14 March Multipurpose Business Credit March 2024, surpassing the
7 (KMU) programme, specifically industry average growth rate.
for women entrepreneurs or Meanwhile, net profit for BCA
businesses with a majority and its subsidiaries rose by
Annual General Meeting of Shareholders 2024: BCA Sets of female employees. This 11.7% YoY to Rp12.9 trillion in
Dividend of Rp270.00 per Share program offered special the first quarter of 2024. This
The Annual General Meeting of Shareholders (AGMS) has reached interest rate starting from growth was driven by robust
several key resolutions, including the approval of the Annual 3.21% p.a, and is valid from 1 loan disbursement expansion,
Report, which comprises the Company’s Financial Statements April 2024 to 30 June 2024. consistent improvements in
and the Supervisory Report of the Board of Commissioners for the loan quality, and increased
fiscal year ending December 31, 2023. Furthermore, the AGMS transaction volumes and
has determined the allocation of the net profit, including the funding activities.
distribution of a cash dividend of IDR 270.00 per share, marking a
31.7% increase compared to the cash dividend distributed for the
fiscal year 2022.
8
20 March 11
24 April
Partnership with NU Care-LAZISNU Launch of #BuktiBaktiBCA Campaign
BCA established a strategic partnership with the Nahdlatul Ulama BCA underscores its dedication to creating a positive social
Amil Zakat, Infaq and Sadaqah Institution (NU Care-LAZISNU) to impact through a range of sustainable development initiatives
fulfill customers’ needs in making donations and zakat through with the launch of the #BuktiBaktiBCA campaign. The launch was
mobile banking services. highlighted by the premiere of the Bukti Bakti BCA video and the
official introduction of Nicholas Saputra as ambassador of Bakti
BCA.
2024 Annual Report PT Bank Central Asia Tbk 51
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Event Highlights 2024 - continued
12
3 May 15
11 June 16
17 June
Celebrating National Education Day, Bakti BCA Holds ‘BCA BCA Helps Revitalise Forbes Again Named BCA
Shares Knowledge’ Campaign Cikoneng Coffee Plantation the Best Bank in Indonesia
In commemoration of National Education Day, Bakti BCA has once in Bogor PT Bank Central Asia Tbk
again conducted its “BCA Berbagi Ilmu” (BCA Shares Knowledge) BCA, under the umbrella of (BCA) has been named the #1
initiative. This program is a flagship initiative under the Bakti Bakti BCA, revitalised the World Best Bank in Indonesia
Pendidikan (education) pillar, aimed at supporting the achievement Cikoneng Coffee Farm in by Forbes, an international
of the Sustainable Development Goal (SDG) for Quality Education Tugu Utara Village, Bogor. economic and business
while preparing skilled and competitive younger generation to Through this programme, BCA media company. This honour
face the peak of the Demographic Bonus in 2030. Throughout collaborates with the National is a testament to BCA’s
2024, the program has reached 10 universities across various cities Coffee Foundation (YKN) commitment to maintaining
in Indonesia. and the Bogor Regency Food trust and providing the
Crops Horticulture & Plantation best financial solutions for
13
8 May Office (Distanhorbun) to
provide coaching, counselling,
and infrastructure assistance
customers.
to local farmer groups.
Bakti BCA Holds Natural Colour Training for 50 East Sumba
Weavers
BCA and Perkumpulan Warna Alam Indonesia (WARLAMI)
symbolically kicked off natural dyeing process coaching for 50
weavers from 5 villages and sub-districts in East Sumba, East Nusa
Tenggara (NTT) which is scheduled to last for 6 months.
17
1 July
PT BCA Finance and PT BCA Multi Finance Merger
4 June
Two subsidiaries of PT Bank Central Asia Tbk (BCA), PT BCA
14 Finance (BCA Finance/BCAF) and PT BCA Multi Finance (BCA
Multi Finance/BCAMF), have merged to bolster the automotive
financing business . Following the merger, BCA Finance emerged
BCA Receives 4 Best Awards in Asia: CEO, CFO, CSR and as the surviving entity. The merger has received approval from the
Investor Relations Financial Services Authority (OJK). This strategic move marks a
BCA won an award at the 14th Asian Excellence Award 2024 significant step for the BCA Group in enhancing its ability to deliver
organised by Corporate Governance Asia in Hong Kong on exceptional services across various segments of automotive
Friday (31/05). Representing Indonesia, BCA won awards in four financing.
categories, namely Asia’s Best CEO for BCA President Director
Jahja Setiaatmadja, Asia’s Best CFO for BCA Director Vera Eve
Lim, Asia’s Best CSR, and Best Investor Relations Company in
Indonesia.
12 13 14 15
16 17
52 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
18 19 20
21 22
23
18
15 July 21
7 August 22
12 August
Consistently Contributes to State Revenue, BCA Receives 2024 UMKM Fest Kantar Names BCA as
2024 Taxpayer Award Again PT Bank Central Asia Tbk (BCA) Southeast Asia’s Most
PT Bank Central Asia Tbk (BCA) received an award and taxpayer once again hosted the BCA Valuable Brand in 2024
appreciation from the Regional Office of the Directorate General UMKM Fest at Kota Kasablanka BCA successfully maintained
of Taxes Large Taxpayers (LTO Regional Office). The award was Mall, Jakarta, from August its top position in the Kantar
given to BCA for its contribution and compliance in submitting the 7-11, 2024, with the event BrandZ Top 30 Most Valuable
Annual Corporate Income Tax Return and Periodic Tax Return for continuing online from August Southeast Asian Brands 2024
the fiscal year 2023. 12 to September 12, 2024. In list. This award recognised
its fourth edition, this annual BCA as the most valuable
festival will feature over 50
24 July
brand in Southeast Asia. BCA
19
selected MSMEs showcasing also won an award in the ‘Most
their flagship products, as Meaningfully Different Brand
well as more than 1,200 MSME in Indonesia’ category. In the
2024 First Semester Performance Results participants in the online Kantar BrandZ report, BCA’s
PT Bank Central Asia Tbk (BCA) and its subsidiaries posted an event, accessible through brand valuation reached
increase in total loans of 15.5% on an annual basis (YoY) to Rp850 the umkmfest.bca.co.id US$28.3 billion (around Rp460
trillion as of June 2024. The growth in total loans was above the website, in collaboration with trillion), an increase of 21% in
industry average. In terms of profitability, the net profit of BCA e-commerce platforms Blibli just one year.
and its subsidiaries grew 11.1% YoY to Rp26.9 trillion in the first and Grab. Additionally, more
semester of 2024. This growth was supported by quality financing than 300 local businesses
expansion, as well as increased transaction volume and funding. joined the UMKM Fest at
BCA’s 47 KCUs across various
regions.
20
28 July 23
16 August
Bakti BCA Supports Indonesia’s Advanced Innovation BCA Expo 2024 Presents the Lowest Interest Rates in History
Through an Incubation Space for 15,000 Turtle Eggs on Independence Day, Mortgages from 1.45% and Vehicles
Through the Bakti BCA programme, the company supported from 2.45%
the research and manufacture of ‘Intan Ruang’, a turtle egg Coinciding with the Independence Day of the Republic of Indonesia,
incubation device, by the Banyuwangi Sea Turtle Foundation BCA once again held BCA Expo 2024 offline on 16-18 August 2024
(BSTF) as part of efforts to maintain the world’s turtle population, at Hall 5-10 ICE BSD City and online on 16 August-30 September
particularly in Banyuwangi. The Intan Ruang can significantly 2024 through the official website expo.bca.co.id. Presenting special
increase the probability of hatching hatchlings with a success mortgage interest offers starting from 1.45% eff. p.a. fixed 1 year and
ratio above 90% since May 2024. for KKB there is a special interest of 2.45% flat p.a. for a 3 year tenor
and 0% DP promo.
2024 Annual Report PT Bank Central Asia Tbk 53
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Event Highlights 2024 - continued
24
24 August 27
23 September 28
26 September
Gebyar BCA Merah Putih BCA Announces Recipients Halo BCA wins 66 medals at
To celebrate Indonesia’s 79th Independence Day, BCA under of Gebyar Hadiah BCA TBCCI 2024, defending the
Bakti BCA presented an event: ‘Gebyar BCA Merah Putih: Program Grand Champion Title for 13
Indonesia Banget!’. The event took place on 22-24 August 2024 PT Bank Central Asia Tbk (BCA) Years in a Row
in the Prambanan Temple area, Yogyakarta. For three days, the hosted the Gebyar Hadiah BCA BCA, through its Halo BCA
event featured “Pasar Kangen” market with 60 MSME tenants, 2024 program and officially service, has retained its
including various MSMEs fostered by Desa Bakti BCA and BCA’s announced the winners at an highest recognition as Grand
Bangga Lokal programme. The event culminatede with a musical event in Jakarta on Monday Champion at The Best Contact
performance entitled ‘Nusantara: The Soul of Equatorial Paradise’ (September 23). The program Centre Indonesia (TBCCI)
at Ramayana Ballet Prambanan. was organized as a token for the 13th consecutive
of appreciation for BCA’s year. The recognition at this
loyal customers who have prestigious event for contact
consistently supported the centre practitioners reinforces
25
4 September bank. Given the overwhelming
enthusiasm from customers,
BCA is set to hold the Gebyar
BCA’s commitment to always
provide quality service to all
of its beloved customers. This
BCA Wealth Summit is Back! Presents a Variety of Prizes, Hadiah BCA program again, year, BCA won 66 medals,
offering customers the consisting of 20 Platinum
Promos, and Cashback for Investment and Protection
chance to win a range of medals, 21 Gold medals,
Products
exciting prizes, including 4 13 Silver medals, 12 Bronze
BCA Wealth Summit 2024 was held under the theme ‘Grow
units of Mercedes-Benz E medals, and 1 Grand Champion
Prosperity Beyond Wealth’, with a variety of attractive promos,
200 Exclusive Line, 12 units of title.
ranging from cashback on mutual fund units up to millions of
Toyota Innova Zenix Q Hybrid,
rupiah for the purchase of investment products, trip packages to
and 120 units of Honda Vario
Tasmania (Australia) for the purchase of insurance products, lucky
125 CBS ISS.
draws and other promotional activities.
26
18 September 29
2 October
Representing Indonesia! BCA Again Becomes Newsweek Wisma BCA Foresta achieves first Green Mark Super Low
Magazine’s Most Trusted Bank in the World Energy Building Certificate in Indonesia
PT Bank Central Asia Tbk (BCA) has once again won the prestigious One of BCA’s office buildings, Wisma BCA Foresta, has received a
World’s Most Trustworthy Company title by Newsweek Magazine. Green Mark Super Low Energy Building certificate from the Building
Representing Indonesia, BCA ranked first in the world in the Banks and Construction Authority of Singapore. The certificate was
category for the second consecutive year, outperforming 66 achieved because Wisma BCA Foresta was considered successful
other banks from various countries. in implementing very high efficiency in building operations. Wisma
BCA Foresta is the first building in Indonesia to receive Green Mark
Super Low Energy Building certification based on the International
Green Mark criteria.
24 25 26
27 28 29
54 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
30 31 32 33
34 35
30
7 October 33
12 November 34
8 December
BCA named as the overall winner of the 2023 Annual Report Indonesia Knowledge Forum BCA invites customers to be
Award (IKF) 2024: Strengthening healthy while earning, BCA
BCA named as the Overall Winner at the Annual Report Award the Business Sector Holds Runvestasi
(ARA) 2023. The ARA Award was organized by OJK, the Towards a Golden Indonesia BCA held its first “Runvestasi”
Coordinating Ministry for Economic Affairs, the Ministry of SOEs, 2045 competition from 8-22
the Directorate General of Taxes of the Ministry of Finance, the PT Bank Central Asia Tbk December 2024. With
Indonesia Stock Exchange (IDX), the National Committee on (BCA) hosted the Indonesia ‘Wealth-Life Balance’ theme,
Governance Policy (KNKG), and the Indonesian Accountants Knowledge Forum (IKF) 2024 the event presented an
Association (IAI), recognizing BCA’s commitment to producing on November 12–13, 2024. innovative concept that
a high-quality and transparent annual report. This achievement With the theme ”Linear to combines fitness competition
underscored BCA’s ongoing dedication to enhancing the quality Limitless: Advancing Business with financial investment. With
of its annual report preparation, in full compliance with Financial Exponential Growth,” IKF 2024 this concept, BCA hoped to
Services Authority (OJK) regulations. featured 25 distinguished improve people’s quality of
practitioners and experts life while expanding financial
31
15 October from various industries. They
shared insightful perspectives
on future-oriented strategic
literacy and inclusion in
Indonesia.
Multi Settlement feature for QRIS transactions thinking, innovation, and
PT Bank Central Asia Tbk (BCA) introduced the Multi Settlement collaboration.
feature for QRIS transactions in the BCA Merchant application.
Through this feature, individual micro-entrepreneurs (UMi) can
withdraw funds from static and dynamic QRIS transactions more
quickly and frequently up to four times per day. This feature
is a manifestation of the company’s commitment to prioritise
35
11 December
digital innovation in supporting the growth of the local business
ecosystem. BCA Distributes Interim Cash Dividend of Rp50.00 per Share
PT Bank Central Asia Tbk (BCA) announced its decision to pay
32
23 October interim cash dividend, reflecting the Company’s ongoing
commitment to delivering added value to its shareholders. This
decision is backed by the Company’s sustained performance
growth through the third quarter of 2024.
Q3-2024 Performance Results
PT Bank Central Asia Tbk (IDX: BBCA) and its subsidiaries posted a
14.5% YoY increase in total loans to Rp877 trillion as of September
2024. The net profit of BCA and its subsidiaries grew 12.8% YoY
to Rp41.1 trillion in the first nine months of 2024, supported by the
expansion of quality financing as well as increased transaction
volume and funding.
2024 Annual Report PT Bank Central Asia Tbk 55
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Corporate Culture
VISION
To be the bank of choice and a
major pillar of the Indonesian
economy
MISSION
To build centers of excellence in payment
settlements and financial solutions for
businesses and individuals
To understand diverse customer needs
and provide the right financial services to
optimize customer satisfaction
To enhance our corporate franchise and
stakeholders value
56 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
CORE VALUES
1
2
Customer Integrity
Focus
4
Continuous
Pursuit of Teamwork
Excellence
3
More detailed information of corporate culture can be found in
the Corporate Governance section on pages 489.
2024 Annual Report PT Bank Central Asia Tbk 57
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Products and Services
As of 31 December 2024
Products and Services Description Products and Services Description
Tahapan Electronic Banking Call Center (Halo BCA)
Tahapan Xpresi (continued) Host to Host (H2H) ERP Integration
Tahapan Gold Paylater
Tahapan Berjangka Payable Management/Disbursement
Cash
Tahapan Berjangka SiMuda Receivable Management/Collection
Management (including B2B & B2C)
Tapres Services
Account and Liquidity Management
Simpanan Pelajar (termasuk RDN dan RDL)
TabunganKu BCA Card
Deposits Accounts BCA Dollar BCA Mastercard
Credit Cards
Deposito Berjangka BCA Visa
Giro BCA Amex
e-deposito BCA JCB
Poket Valas BCA UnionPay
Safe Deposit Box Regular Premium Unit Link
Transfer Maxi Infinite Link Assurance Plus
(MILA Plus)
Remittance
Maxi Value Protection
Collection dan Kliring
Health Protection
Bank Notes
BCA Life Proteksi Kesehatan
Travellers' Cheque (BCA Life ProKes)
Virtual Account Hospital 100% Refundable
Sub Account Bima Proteksi Kesehatanku
Payment Optima Cancer Protection
Auto Debit Optima Protection Plus
Payroll Services Proteksi Penyakit Kritis Maksima Extra
(PRIMA Extra)
Cash Pick Up Premier Medical Protection (Medic Pro)
Transaction Banking
Jasa Kustodian Proteksi Kesehatan Ultima (PRATAMA)
Services
Business Debit Card (BDC) BCA Life Perlindungan Kritis Optima
Payment Gateway (BCA Life PELITA)
STAR Teller Dental Care Plan
eBranch Safety Guard Critical Cover (STAR)
eService Life Protection
Modul Penerimaan Negara Generasi 3 BCA Life Accident Safeguard
(MPN G3) BCA Life Heritage Protection
e-Billing (local tax payment: PPN, PPh, BCA Life Proteksi Jiwa Optima
and others)
Optima Accident Protection
ATM BCA (multifunction, non cash and cash
recycling machine) Education Guard
Bancassurance Household Guard
EDC BCA
Products
Debit BCA Wealth Premier Protection (Premier Pro)
Tunai BCA Credit Life
Flazz Digital
BCA mobile MyGuard
m-BCA Education
Internet Banking Proteksi Edukasi Maksima (EduPlan)
KlikBCA Individu Retirement
KlikBCA Bisnis Proteksi Retirement Maksima (RetirePlan)
KlikBCA Bisnis Integrated Solution - Corporate Solutions
with a more comprehensive features Program Pensiun DPLK
than KlikBCA Bisnis, for example, to
accommodate supply chain services Health Corporate Insurance
API BCA Life Corporate Insurance
Electronic OneKlik General Insurance
Banking Welma Electronic Equipment Insurance (EEI)
VIRA Asuransi Kebakaran
Sakuku Asuransi Property/Industrial All Risks
(PAR/IAR)
BCA KlikPay
Asuransi Kendaraan Bermotor
WhatsApp Bank BCA
Travel Insurance
Vindi
Money Market Mutual Funds
myBCA
Bahana Gebyar Dana Likuid
BCA by Phone
Mutual Fund Investment Batavia Dana Kas Maxima
Info SMS/Email BRI Gebyar Dana Likuid
Products
Video Banking Manulife Dana Kas II Kelas A2
CS Digital Schroder Dana Likuid
58 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Products and Services Description Products and Services Description
Rupiah Fixed Income Mutual Funds B. SBSN (Surat Berharga Syariah Negara)
Ashmore Dana Obligasi Nusantara In Rupiah
Ashmore Dana Obligasi Unggulan 1. SR (Sukuk Ritel)
Nusantara
2. PBS (Project Based Sukuk)
Bahana Pendapatan Tetap Makara Prima
Kelas G 3. SPNS (Surat Perbendaharaan Negara
Syariah)
Batavia Dana Obligasi Ultima 4. ST (Sukuk Tabungan)*
BNP Paribas Prima ll Kelas RK1 Treasury Foreign Currencies
BRI Gebyar Indonesia Il Investment 1. Global Sukuk
Eastspring Investments Yield Discovery Products
(continued) Structured Product
Kelas A
DCI (Dual Currency Investment)
Manulife Obligasi Negara Indonesia II
Kelas Income 1 SLD (Swap Linked Deposit)
Manulife Obligasi Unggulan Kelas A Mortgage
Panin Gebyar Indonesia Il Vehicle Loan
Schroder Dana Mantap Plus Il Syndication Loan
Schroder Prestasi Gebyar Indonesia ll Working Capital Loan
USD Fixed Income Mutual Funds
Pre-Export Financing
Ashmore Dana USD Nusantara
Trust Receipt
BNP Paribas Prima USD Kelas RK1
Investment Loan
Manulife USD Fixed Income Kelas A
Distributor Financing
Schroder USD Bond Fund
Supplier Financing
Fixed Income Index Mutual Funds
Dealer Financing
Bahana Indeks IBPA 35
Credit Facilities Franchise Financing
Mixed Mutual Funds
Showroom Financing
Schroder Dana Terpadu Il
Investment Financing
Schroder Dana Kombinasi
Schroder Dynamic Balance Fund Business Personal Loan
Mutual Fund Rupiah Equity Mutual Funds Kredit Usaha Rakyat
Investment Personal Loan
Ashmore Dana Ekuitas Nusantara
Products
(continued) Ashmore Dana Progresif Nusantara Pinjaman Berjangka Money Market (PBMM)
Ashmore Saham Dinamis Nusantara Advance Payment Guarantee
Batavia Dana Saham Bid Guarantee
Batavia Dana Saham Optimal Counter Guarantee
BNP Paribas Ekuitas Custom Guarantee (P4BM)
BNP Paribas Pesona Syariah Direct Pay Guarantee
BRI Mawar Konsumer 10 Kelas A Financial Guarantee
Eastspring Investment Value Discovery Standby LC / Maintenance Guarantee
kelas A Bank Guarantees
Payment Guarantee
Schroder 90 Plus Equity Fund
Performance Guarantee
Schroder Dana lstimewa
Schroder Dana Prestasi Inward Documentary Collection
Schroder Dana Prestasi Plus LC Issuance
USD Equity Mutual Funds Trust Receipt
Batavia Global ESG Sharia Equity USD LC Forfaiting
Batavia India Sharia Equity USD LC Confirmation
Batavia Technology Sharia Equity USD LC Discounting
BNP Paribas Cakra Syariah USD Kelas RK1 Export Import LC Negotiation
Facilities
BNP Paribas Greater China Equity Syariah Letter of Guarantee
USD Kelas RK1
(Trade Finance)
Outward Documentary Collection
Manulife Saham Syariah Asia Pasifik Dollar AS
Pre Export Financing (Export Loan)
Schroder Global Sharia Equity Fund USD
SKBDN Issuance
Index Mutual Funds
Trust Receipt
Batavia Index PEFINDO i-Grade
SKBDN Forfaiting
BNP Paribas Sri-Kehati
Letter of Guarantee
Money Market
Local LC SKBDN Discounting
DBMM (Deposito Berjangka Money Market)
Cash Transaction
Term Deposit (TD) Valas DHE SDA
FX TOD
Fixed Income
FX TOM
Surat Berharga Negara (SBN)
FX SPOT
A. Surat Utang Negara (SUN)
Banknotes
In Rupiah
Derivatives/Hedging/Structured Products
1. ORI (Obligasi Ritel Indonesia)
FX FORWARD
2. Fixed Rate
Treasury
FX SWAP
Investment 3. SPN ( Surat Perbendaharaan Negara)
Foreign DNDF (Domestic Non Deliverable Forward)
Products 4. SBR (Savings Bond Ritel)* Exchange
Facilities FX OPTION
Foreign Currencies
CCS (Cross Currency Swap)
1. Global Bonds
IRS (Interest Rate Swap)
*) Cannot be traded in secondary market OIS (Overnight Index Swap)
CSO (Call Spread Option)
2024 Annual Report PT Bank Central Asia Tbk 59
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Organization Structure
As of 31 December 2024
BOARD OF DIRECTORS
Asset & Liability
Committee PRESIDENT DIRECTOR
Jahja Setiaatmadja
Credit Policy
Committee
Internal Anti
Credit Committee Audit*) Fraud
Leo Ariston Erin Sutedja
Risk Management
Committee
Information
Technology Steering DEPUTY PRESIDENT DIRECTOR
Committee (IT & DIGITAL BANKING)
Gregory Hendra Lembong
Employee Relations
Committee
CORPORATE FINANCE &
Integrated Risk CREDIT RISK & TRANSACTION
BANKING & CORPORATE
Management LEGAL BANKING
TREASURY PLANNING
Committee DIRECTOR DIRECTOR
Subur Tan DIRECTOR DIRECTOR #) Santoso
Rudy Susanto Vera Eve Lim
EXECUTIVE EXECUTIVE EXECUTIVE
VICE VICE EXECUTIVE EXECUTIVE VICE EXECUTIVE
PRESIDENT PRESIDENT VICE VICE PRESIDENT VICE
Deddy Muljadi Linus Ekabranko
PRESIDENT PRESIDENT Lilik Winarni PRESIDENT
SUBSIDIARIES Hendrawinata Windoe
Wira Chandra Raymon Yonarto Soedarso David Formula
Central Capital Credit Risk Corporate Corporate Strategic Transaction
Ventura Treasury
Analysis Junita Grace Banking & Strategy & Information Banking
• Shirley Transaction^^) Planning Technology Business
Bank Digital Magdalena • Denny Haryanto Jayaprawirya • Lily Wongso Development
BCA • Edy Gunawan
International • Heru Wirawan Diah • Indra Tjahaja I Ketut Alam
• Budi Mulja Adi Chandra • Evans Charles Wangsawijaya
Sentana Banking
• Kristian Marbun Benny H.
BCA Sekuritas • Djulijanto Liong Tjoe Henny
• Sylna Accounting • Thomas
• Henrietta • R. Marthin Joel Felix Ivanata Armand Lahey
Soesilo
Transaction
• Winny Harianto Darmasetia • Ferdinan Banking
BCA Finance Ltd. • Tan Tesien • Yayi Mustika Marlim H. S.
Hong Kong Tanudjaja
Partnership
Pudyanti • Pauline Solution
• Sianne Dhalia • Inge Setiawati Tax
Winata
Development
Yuandri Martua Hendra
BCA Syariah • Ferry Philip S Tanumihardja
• Andi Agus Salim
Asuransi Investor Relations Operation Transaction
Umum BCA Corporate
Rudy Winarto Strategy & Banking
Budiardjo
Credit Finance Development Product
Asuransi Jiwa Recovery Maria Jashinta • Justina Development
BCA Fransiska Environment Susiloningsih Jan Hendra
Edy Untung
Sustainability • Susanwati
• I Made Sucita
Governance
BCA Finance Legal Corporate Linda Chandrawati
• Andry Santoso Wholesale
• Rieka
Branch Transaction
• Suzi Tanzino Banking Product
Liliani Kurniawan
Industry & Development
Economic Martinus Robert
Research Winata
David Erenst Sumual
Transaction
Banking
Services
Wilson Karimun
60 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
GENERAL MEETING OF
SHAREHOLDERS
BOARD OF COMMISSIONERS
Djohan Emir Setijoso, Tonny Kusnadi, Cyrillus Harinowo,
Raden Pardede, Sumantri Slamet
Remuneration
& Nomination
Committee
Risk
Oversight
Committee
Integrated
Corporate
Governance
Committee
Audit
DEPUTY PRESIDENT DIRECTOR Committee
(BUSINESS BANKING & OPERATION)
Armand Wahyudi Hartono
reporting lines
CONSUMER BRANCH COMPLIANCE & RISK
COMMERCIAL NETWORK
BANKING HUMAN CAPITAL MANAGEMENT monitoring lines
& SME BANKING DIRECTOR ##)
DIRECTOR MANAGEMENT DIRECTOR^)
DIRECTOR Haryanto Tiara Frengky Chandra communication lines
DIRECTOR ^) Antonius Widodo
John Kosasih Budiman Kusuma Lianawaty Suwono Mulyono
coordination lines
Notes:
*)
Oversee internal audit/
risk management/
compliance function
of subsidiaries in
association with
integrated corporate
governance & integrated
risk management
application.
^)
Compliance & Risk
Commercial Regional & Branch Contact
Wealth Risk Management Director
& SME Branch Banking Network Center Compliance*) oversees subsidiaries risk
Management Management*)
Business Indrawan B. Management Management & Digital Lanny Tanzania
Famiati Daun
as part of integrated risk
management.
Freddy Iman ##) Ng A Im Services
Wani ^^)
Corporate Banking
Director appoints which-
Cash Individual Procurement corporate business
Management & Facility Global Trade Human Capital Corporate group are reporting to
Customer EVP.
Tjoe Aniek Management & Payment Management Communication
Business Rudi Lim
Susilowati Development Alrianto Djunaidi Services & Social #)
Finance & Corporate
Planning Director
Adrianus Wagimin Radiman Ali Responsibility • oversees &
Wang Rohim Hera Fendayani coordinates overall
Credit Learning & Haryn management of
Administration Development
subsidiaries.
• oversees subsidiaries
Services Consumer E-Channel & Teddy Gunawan financial performance.
Wiwin Wielianti Finance Settlement ##)
Branch Network
Tjhong Welly Services Director oversees and
Yandoko Reni Septiana coordinates Regional
& Branch Banking
Management daily.
Head of Regional
Banking Management
responsibility to Board of
Directors.
2024 Annual Report PT Bank Central Asia Tbk 61
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Board of Directors Profile
DUTIES AND President Director of BCA, responsible for general
RESPONSIBILITIES coordination, as well as overseeing the Internal Audit Division
and Anti-Fraud Bureau.
CAREER He served as Deputy President Director of BCA (2005-2011)
lastly responsible for Branch Banking, Treasury Division,
International Banking Division, and overseas representative
offices. Previously served as Director of BCA (1999-2005)
and has held a variety of managerial positions at BCA since
1990. Prior to joining BCA, he served as the Finance Director
at a leading Indonesian automotive company, PT Indomobil
(1989-1990), and held various managerial positions at one
of Indonesia’s largest pharmaceutical companies, PT Kalbe
Farma (1980-1989), lastly as the Finance Director. He started
his career in 1979 as an accountant at an accounting company
(Price Waterhouse).
Jahja Setiaatmadja During his career, he accumulated extensive experience
President Director in various areas and assignments, including change
management, banking strategy, treasury, accounting &
financial management, corporate banking, international
Indonesian citizen, 69 years
banking, risk management, and digital banking.
old. Domiciled in Indonesia.
Appointed as President Director
of BCA at the 2011 Annual GMS EDUCATION, He holds a Bachelor’s degree in Accounting from Universitas
CERTIFICATION, Indonesia (1982).
and received approval from
AND TRAINING
Bank Indonesia on 17 June 2011. IN 2024 Certification:
He was last reappointed to the • Risk Management Level 7.
position at the 2021 Annual GMS
for a 5-year term. Trainings, seminars, and conferences in 2024 can be seen on
page 337 in this Annual Report.
AFFILIATIONS No financial relationship, stock ownership relationship,
and/or family relationship with members of the Board of
Commissioners, fellow member of the Board of Directors, and/
or the controlling shareholders of BCA.
CONCURRENT Does not have concurrent positions in companies or other
POSITIONS institutions in accordance with the prevailing OJK Regulations.
62 PT Bank Central Asia Tbk 2024 Annual Report
Page 65
Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
DUTIES AND Deputy President Director of BCA, in charge of general
RESPONSIBILITIES supervision of the Finance & Corporate Planning Director and
the Transaction Banking Director, as well as responsible for the
Strategic Information Technology Group and the Operation
Strategy & Development Group. Also monitors developments
at PT Central Capital Ventura, a subsidiary in venture capital,
and at PT Bank Digital BCA (BCA Digital), a subsidiary in
engaged in digital banking.
CAREER He has over 30 years of banking experience both in Indonesia
and internationally. Prior to joining BCA, he appointed as
Chief Transformation Officer and led the Transformation &
Strategy program for all units and functions at PT Bank CIMB
Niaga Tbk since January 2019, Chief Fintech Officer CIMB
Group Malaysia (June 2018 to December 2018), CEO Group
of Transaction Banking CIMB Group Malaysia (July 2016 to
December 2018), Chief of Transaction Banking PT Bank CIMB
Gregory Hendra Lembong Niaga Tbk (August 2013 to December 2018), Regional Head of
Deputy President Director Transaction Services (cash, liquidity, FX), Asia Pasific with J.P.
Morgan Asia-Pacific in Singapore (2010-2013), Global COO &
Head of Business Development with Deutsche Bank London
Indonesian citizen, 52 years
(2009-2010), and a career with Citibank from 1994 to 2009 in
old. Domiciled in Indonesia. various postings in Asia and Europe with strategy and product
Appointed as Deputy President management responsibility.
Director of BCA at the 2022
Annual GMS and obtained the During his career, he accumulated extensive experience in
approval of OJK on 22 April various areas and assignments, including in transformation
2022. Appointed to the position strategy & implementation, transaction banking and services,
global trade finance & corporate cash management business
at the 2021 Annual GMS for a
development, regional strategy & planning, and product
5-year term. solution management.
EDUCATION, He held a Bachelor of Science in Chemical Engineering
CERTIFICATION, from University of Washington and a Master of Science in
AND TRAINING Engineering Economic Systems from Stanford University, USA.
IN 2024
Certification:
• Risk Management Level 7.
Trainings, seminars, and conferences in 2024 are presented on
page 337 in this Annual Report.
AFFILIATIONS No financial relationship, stock ownership relationship,
and/or family relationship with members of the Board of
Commissioners, fellow member of the Board of Directors, and/
or the controlling shareholders of BCA.
CONCURRENT Does not have concurrent positions in companies or other
POSITIONS institutions in accordance with the prevailing OJK Regulations.
2024 Annual Report PT Bank Central Asia Tbk 63
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
DUTIES AND Deputy President Director of BCA, charged with general
RESPONSIBILITIES supervision of the Regional Network and Branch Director,
Consumer Banking Director, and the SME & Commercial
Banking Director, as well as responsible for a number of
operational units including the E-Channel & Settlement
Services, International Banking Services, as well as Contact
Center and Digital Services.
CAREER He served as a Director of BCA from 2009. Previously served
as Head of Regional Planning and Development of BCA
(2004-2009). Prior to this, he has held several executive
positions at PT Djarum (1998-2004), including Finance
Director, Deputy Director for Purchasing, and Head of Human
Resources. He began his career working as an analyst at
Global Credit Research and Investment Banking, JP Morgan
Singapore (1997-1998).
Armand Wahyudi Hartono During his career, he accumulated extensive experience
Deputy President Director in various areas and assignments, including in IT & digital
transformation, change management, banking operations
& service excellence, and network distribution & delivery
Indonesian citizen, 49 years
channel.
old. Domiciled in Indonesia.
Appointed as Deputy President
Director of BCA at the 2016 EDUCATION, Graduated from the University of California, San Diego (1996),
CERTIFICATION, and obtained a Master of Science degree in Engineering
Annual GMS and obtained the
AND TRAINING Economic-System and Operations Research from Stanford
approval of OJK on 21 June IN 2024 University, USA (1997).
2016. Lastly reappointed to the
position at the 2021 Annual GMS Certification:
for a 5-year term. • Risk Management Level 7.
Trainings, seminars, and conferences attended in 2024 are
presented on page 338 in this Annual Report.
AFFILIATIONS He has a financial and family relationship with Robert Budi
Hartono and Bambang Hartono, the controlling shareholders
of BCA, but no financial, stock ownership, and/or family
relationship with members of the Board of Commissioners or
fellow members of the Board of Directors of BCA.
CONCURRENT Does not have concurrent positions in companies or other
POSITIONS institutions in accordance with the prevailing OJK Regulations.
64 PT Bank Central Asia Tbk 2024 Annual Report
Page 67
Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
DUTIES AND Director of BCA in charge of Credit Risk Analysis, Credit
RESPONSIBILITIES Recovery, and Legal & Litigation.
CAREER Head of Legal Work Unit, Deputy Head of Legal Division
(1999- 2000), Head of Legal Bureau (1995-1999), and has held
several managerial positions, including Head of Credit in
Operational Headquarters (1991-1995). He joined BCA in 1986.
During his career, he accumulated extensive experience in
various areas and assignments, including in legal & litigation,
enterprise & credit risk management, human capital
management, credit restructuring, compliance, divestments
and IPOs, as well as mergers and acquisitions.
EDUCATION, Universitas Jenderal Soedirman (1986) and obtained a Notary
CERTIFICATION, qualification from the Faculty of Law, Universitas Indonesia
Subur Tan AND TRAINING (2002).
IN 2024
Director
Certification:
• Risk Management Level 7 .
Indonesian citizen, 64 years
old. Domiciled in Indonesia. Trainings, seminars, and conferences in 2024 are presented on
Appointed as Director of BCA page 338 in this Annual Report.
at the 2002 Annual GMS and
obtained the approval of OJK AFFILIATIONS No financial relationship, stock ownership relationship,
on 13 August 2002. Lastly and/or family relationship with members of the Board of
reappointed to the position Commissioners, fellow member of the Board of Directors, and/
at the 2021 Annual GMS for a or the controlling shareholders of BCA.
5-year term.
CONCURRENT Does not have concurrent positions in companies or other
POSITIONS institutions in accordance with the prevailing OJK Regulations.
2024 Annual Report PT Bank Central Asia Tbk 65
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
DUTIES AND Director of BCA, responsible for Corporate Banking,
RESPONSIBILITIES Transactions & Finance Group, Treasury Division, International
Banking Division, and Corporate Branch. Also supervises
developments at BCA’s wholly-owned subsidiary in remittance
services, BCA Finance Limited (Hongkong), and the securities
subsidiary, PT BCA Sekuritas.
CAREER Since joining BCA in 2002, he has served in a number of
managerial positions, including as Group EVP of Credit Risk
Analysis (2011-2014), Group Head of Credit Risk Analysis
(2004- 2011), and Head of Credit Division (2002-2004). Prior to
joining BCA, he worked with the Indonesian Bank Restructuring
Agency (IBRA) as Head of Division, Loan Work Out II (2001-
2002), and Senior Credit Officer (1999-2001). He has also
served at PT Bank LTCB Central Asia as Vice President of
Corporate Finance (1998-1999), Senior Manager of Corporate
Finance (1996-1998), Manager of Corporate Finance (1995) and
Rudy Susanto Assistant Manager of Corporate Finance (1994).
Director
He began his career in 1992 as a trainee in the Credit
Marketing Program of PT Bank Danamon Tbk. During his
Indonesian citizen, 62 years
career, he accumulated extensive experience in various areas
old. Domiciled in Indonesia. and assignments, including in corporate lending business,
Appointed as Director of BCA syndication loan, credit restructuring, corporate banking
at the 2014 Annual GMS and operation & services, treasury, international banking business,
received approval of OJK on and merger & acquisition.
21 July 2014. Lastly reappointed
to the position at the 2021 EDUCATION, Obtained a Bachelor’s degree in Civil Engineering from
Annual GMS for a 5-year term. CERTIFICATION, Universitas Tarumanagara (1989) and an MBA degree in Finance
AND TRAINING from the University of Tennessee, Knoxville, USA (1992).
IN 2024
Certifications:
• Risk Management Level 7.
• Level 5 Treasury Dealer.
Trainings, seminars, and conferences in 2024 are presented on
page 338 in this Annual Report.
AFFILIATIONS No financial relationship, stock ownership relationship,
and/or family relationship with members of the Board of
Commissioners, fellow member of the Board of Directors, and/
or the controlling shareholders of BCA.
CONCURRENT Does not have concurrent positions in companies or other
POSITIONS institutions in accordance with the prevailing OJK Regulations.
66 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
DUTIES AND Director of BCA, responsible for Bank Strategy Management
RESPONSIBILITIES and Compliance Policy, Human Resources, and Learning &
Development.
CAREER She served as Head of the Human Capital Management
Division (2006-2016) and member of the Remuneration and
Nomination Committee (2007-2016). Joined BCA in 1991 as a
trainee in the Management Development Program, and then
appointed as Business Analyst in the Information Systems
Division (1992-1996), handling the Integrated Banking Systems
Project for the Integrated Deposit Systems & Integrated Loan
Systems. After handling Information Technology, she started
a career in Human Resources, starting with an assignment to
develop a Human Resource Information Systems.
She has held various executive positions in her career, including
as Deputy Head of the Human Resources Division (2002-2006),
Lianawaty Suwono Head of the HR Resourcing & Development Bureau (2000-
Director 2002), Head of Management Development Program Bureau &
Head of Career Development Bureau (1999-2000), Head of HR
Operations Systems & Support Bureau (1998-1999), and Head
Indonesian citizen, 58 years
of HR Operations Support (1996-1998). In 2014 up to July 2016,
old. Domiciled in Indonesia. she also served as President Commissioner of PT Asuransi Jiwa
Appointed as Director of BCA.
BCA at the 2016 Annual GMS.
Appointed as Compliance During her career, she accumulated extensive experience
Director of BCA at the 2022 in various areas and assignments, including in human capital
Annual GMS and obtained the management, talent management, corporate culture,
employee training & development, information system &
approval of OJK on 22 April
technology, and compliance.
2022.
EDUCATION, Graduated with a degree in Business Information Computing
CERTIFICATION, Systems from San Francisco State University, California, USA.
AND TRAINING
IN 2024 Certifications:
• Risk Management Level 7.
• Risk Management of Insurance Companies.
Trainings, seminars, and conferences attended in 2024 are
presented on page 338 in this Annual Report.
AFFILIATIONS No financial relationship, stock ownership relationship,
and/or family relationship with members of the Board of
Commissioners, fellow member of the Board of Directors, and/
or the controlling shareholders of BCA.
CONCURRENT Does not have concurrent positions in companies or other
POSITIONS institutions in accordance with the prevailing OJK Regulations.
2024 Annual Report PT Bank Central Asia Tbk 67
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
DUTIES AND Director of BCA, responsible for Transaction Banking
RESPONSIBILITIES Business Development & Marketing, Transaction Banking
Partnership Solution Development, Transaction Banking
Product Development, Transaction Banking Business Support
& Services, and Transaction Banking Wholesale Product
Development.
CAREER He served as Head of the Consumer Card Business Services
& Support Group (2015-2016), Head of Merchant & Consumer
Credit Card Group (2012-2014), Head of Credit Card Business
Unit (2009-2012), Head of Small & Medium Business Division
(2005-2009), Deputy Head of the Consumer Network Division,
Deputy Head of the Service Network Division and Deputy
Head of the Sales & Network Division (2000-2005), and
Head of Area Marketing Bureau (1998-2000). Has held various
managerial positions, including Head of Marketing for Non
Jabodetabek Areas II (1996-1998). Joined BCA in 1992 as Head
Santoso of Administration Support.
Director
He is also active as Chairman of the Indonesian Payment
System Association (ASPI) (June 2021-present), Member of
Indonesian citizen, 58 years
Board of Executives of the Indonesian Credit Card Association
old. Domiciled in Indonesia. (AKKI) (2013-present), Vice Secretary General of ASPI (August
Appointed as Director of BCA 2020 to June 2021), Chair of Research, Assesment, and
at the 2016 Annual GMS and Publication (RPP) at the Indonesian Bankers Association (IBI)
approved by OJK on 8 August (2019-present), Chairman of Committee VII of ASPI (2016-
2016. He was last reappointed 2020), Commissioner of PT Abacus Cash Solution, a cash
to the position at the 2021 management service provider (2010-2016), and as Head of
BCA Pension Fund (2003-2016).
Annual GMS for a 5-year term.
During his career, he has accumulated extensive experience
in various areas and assignments, including in transaction
banking business development, retail payment settlement,
business partnership, consumer card issuance & acquisition,
and digital banking & financial technology.
EDUCATION, Graduated from the Faculty of Engineering, Universitas Trisakti,
CERTIFICATION, Jakarta (1989).
AND TRAINING
IN 2024 Certification:
• Risk Management Level 7.
Trainings, seminars, and conferences attended in 2024 are
presented on page 339 in this Annual Report.
AFFILIATIONS No financial relationship, stock ownership relationship,
and/or family relationship with members of the Board of
Commissioners, fellow member of the Board of Directors, and/
or the controlling shareholders of BCA.
CONCURRENT Does not have concurrent positions in companies or other
POSITIONS institutions in accordance with the prevailing OJK Regulations.
68 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
DUTIES AND Director of BCA, responsible for monitoring activities in
RESPONSIBILITIES Corporate Strategy and Planning, Industry & Economic
Research, Investor Relations, Environment, Social and
Governance (ESG), Good Corporate Governance (GCG),
Corporate Secretary, Finance & Accounting, and Tax &
Regulatory Reporting.
CAREER She joined BCA in 2018 as Executive Vice President of Finance
& Planning and Corporate Secretary. Prior to joining BCA,
she has served as Director and Commissioner in various
companies, including as Director and Chief Financial Officer at
PT Bank Danamon Indonesia Tbk (2006-2017), Commissioner at
PT Adira Dinamika Multi Finance, and concurrently as Director at
PT Bank Danamon Indonesia Tbk (2010-2017), Deputy President
Commissioner at PT Asuransi Adira Dinamika and concurrently
Director at PT Bank Danamon Indonesia Tbk (2008-2013),
Chief Financial Officer PT Bank Danamon Indonesia Tbk
Vera Eve Lim (2003-2006), and as Head of Division, Deputy Head of
Director Division and Section Head at PT Bank Danamon Indonesia Tbk
(1990-2003). She started her career working as assistant
manager of finance with PT Asuransi Sinarmas (1987-1998)
Indonesian citizen, 59 years
and assistant manager of accounting & finance with PT MBF
old. Domiciled in Indonesia. Leasing (1988-1990).
Appointed as Director of
BCA at the 2018 Annual GMS During her career, she accumulated extensive experience
and obtained the approval of in various areas and assignments, including in merger and
OJK on 20 April 2018. Lastly acquisition, divestment and IPO, capital market fund/capital
reappointed to the position raising, transformation management office, operation
excellence, corporate strategy and planning, procurement,
at the 2021 Annual GMS for a
real estate management, investor relations, financial
5-year term. accounting & tax, regulatory reporting, management
information system (MIS), and others.
EDUCATION, Obtained a Bachelor’s degree in Economics/Accounting from
CERTIFICATION, Universitas Tarumanagara (1989), and completed the Executive
AND TRAINING Program at Stanford Graduate School (2008).
IN 2024
Certification:
• Risk Management Level 7.
Trainings, seminars, and conferences held in 2024 are
presented on page 339 in the Annual Report.
AFFILIATIONS No financial relationship, stock ownership relationship,
and/or family relationship with members of the Board of
Commissioners, fellow member of the Board of Directors, and/
or the controlling shareholders of BCA.
CONCURRENT Does not have concurrent positions in companies or other
POSITIONS institutions in accordance with the prevailing OJK Regulations.
2024 Annual Report PT Bank Central Asia Tbk 69
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
DUTIES AND Director of BCA, responsible for the Consumer Loan Business
RESPONSIBILITIES Division, Individual Customer Business Development
Division, and Wealth Management Division. He also monitors
developments at PT Asuransi Jiwa BCA (BCA Life) which
is engaged in life insurance, PT BCA Finance in automotive
financing, and PT BCA Multi Finance in factoring, motorcycle
financing, and leasing.
CAREER He served as Managing Director & Senior Country Officer
(Chief Executive) J.P. Morgan Indonesia (January 2012 to April
2020), Senior Executive Vice President and Head of Change
Management Office PT Bank Mandiri (Persero) Tbk (October
2006 to December 2011), and he began his career at the
global management consulting firm McKinsey & Company
(1996-2006), lastly as Associate Partner and Director of
PT McKinsey Indonesia. He was appointed as Chairman of the
Indonesian Bankers Association (IBI) for a 4-year term (2019-
Haryanto Tiara Budiman 2023) and was re-elected as Chairman for the second period
Director (2023-2027). He was also appointed as one of the seven B20
Indonesia Task Force Chairs in Indonesia G20 Presidency
2022 for Integrity & Compliance. In September 2022, he
Indonesian citizen, 56 years
was appointed as a member of the Board of Trustee USINDO
old. Domiciled in Indonesia. (United States Indonesia Society) – a non-profit organization
Appointed as Director of BCA exclusively dedicated to a stronger US – Indonesia relationship.
at the 2020 Annual GMS and
obtained the approval of OJK on During his career, he accumulated extensive experience
14 May 2020. Lastly reappointed in various areas and assignments, including in strategic
to the position at the 2021 planning, corporate & investment banking, risk management,
compliance, merger & acquisition, capital market and
Annual GMS for a 5-year term.
consumer banking.
EDUCATION, He held a Bachelor’s degree from Texas A&M University,
CERTIFICATION, a Master’s degree from Virginia Polytechnic Institute &
AND TRAINING State University (Virginia Tech), and a Ph.D. degree from the
IN 2024 Massachusetts Institute of Technology (MIT) in the United
States.
Certifications:
• Risk Management Level 7.
• Treasury Dealer Advance Level.
Trainings, seminars, and conferences in 2024 are presented on
page 340 in this Annual Report.
AFFILIATIONS No financial relationship, stock ownership relationship,
and/or family relationship with members of the Board of
Commissioners, fellow member of the Board of Directors, and/
or the controlling shareholders of BCA.
CONCURRENT Does not have concurrent positions in companies or other
POSITIONS institutions in accordance with the prevailing OJK Regulations.
70 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
DUTIES AND Director of BCA, responsible for Network, Regional & Branch
RESPONSIBILITIES overseeing the day-to-day operations of branch network
management and regional development, and responsible
for Logistics & Buildings Division and the Regional & Branch
Management Division.
CAREER Frengky Chandra Kusuma started his career in 1989 at BCA as
a Credit Analyst, and rose through the ranks to become Head
of Cakranegara Branch in 2001. Subsequently he served as
Head of the Sidoarjo Branch, Diponegoro Branch, Solo Branch
and Veteran Surabaya Branch, respectively, until appointed
as Head of Regional Office IV East Indonesia in 2012. In 2018
to 2021, he served as Head Regional Office III Surabaya, and
was also a member of the Steering Committee of the East Java
Regional Banking Consultative Agency.
During his career, he accumulated extensive experience in
Frengky Chandra Kusuma various areas and assignments, including in SME & commercial
Director banking, branch banking management, network distribution &
delivery channel, and procurement & property management.
Indonesian citizen, 58 years
old. Domiciled in Indonesia. EDUCATION, He obtained a Bachelor’s degree in Accounting from STIE
Appointed as Director of BCA CERTIFICATION, Yayasan Pendidikan Ujung Pandang (STIE YPUP) and a Master
at the 2021 Annual GMS and AND TRAINING degree in Financial Management from Universitas Katolik
IN 2024 Widya Mandala.
obtained the approval of OJK on
26 April 2021, for a 5-year term. Certifications:
• Risk Management Level 7.
Trainings, seminars, and conferences attended in 2024 are
presented on page 340 in this Annual Report.
AFFILIATIONS No financial relationship, stock ownership relationship,
and/or family relationship with members of the Board of
Commissioners, fellow member of the Board of Directors, and/
or the controlling shareholders of BCA.
CONCURRENT Does not have concurrent positions in companies or other
POSITIONS institutions in accordance with the prevailing OJK Regulations.
2024 Annual Report PT Bank Central Asia Tbk 71
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
DUTIES AND Director of BCA who is responsible for the Commercial &
RESPONSIBILITIES SME Division, Cash Management Division and Credit Service
Centre. He also monitoring the developments of subsidiaries
that are wholly owned by BCA, i.e. PT Asuransi Umum BCA
(BCA Insurance) as well as PT Bank BCA Syariah (BCA Syariah).
CAREER From 2016 to early 2021, he served as President Director
of PT Bank BCA Syariah. Prior to this, he has had extensive
experience in the banking industry, holding a variety of
positions including as Finance and Loan Administration
Manager, Head of Central Coordinator and Member of IBRA
Team at PT Bank Risjad Salim Internasional (1997-2000), Head
of Business Development and Business Planning, Consumer
Mass Marketing, Head of Consumer Banking Strategic
Planning & Marketing Communication, Head of Liability
Product & Marketing Communication, Head of Jakarta Region
with PT Bank Danamon Indonesia Tbk (2000-2005), Head of
John Kosasih Sales Development Individual Banking, Senior Advisor to the
Director Regional Development & Planning Task Force, and Consultant
for Marketing Strategy Development with PT Bank Central Asia
Tbk (2005-2010), and Director and Vice President Director of
Indonesian citizen, 55 years
PT Bank BCA Syariah (2010-2016). He is also currently active in
old. Domiciled in Indonesia. the Administrative Body of Perbanas (2020-2024 period).
Appointed as Director of BCA
at the 2021 Annual GMS and During his career, he accumulated extensive experience in
obtained the approval of OJK on various areas and assignments, including in consumer banking,
26 April 2021, for a 5-year term. wealth management, commercial & SME banking, micro
business, sharia/islamic banking strategy, and accounting &
financial management.
EDUCATION, He obtained a Bachelor’s degree in Economics from Murdoch
CERTIFICATION, University, Perth, Western Australia, including Pacific RIM
AND TRAINING Bankers Programme – University of Washington, Foster
IN 2024 Education Seattle, USA (2012), ASEAN Global Leadership
Program, UC Berkeley, California, USA (2017), and University of
Chicago Booth School of Business, USA (2023).
Certifications:
• Risk Management Level 7.
• Treasury Dealer.
Trainings, seminars, and conferences in 2024 are presented on
page 340 in this Annual Report.
AFFILIATIONS No financial relationship, stock ownership relationship,
and/or family relationship with members of the Board of
Commissioners, fellow member of the Board of Directors, and/
or the controlling shareholders of BCA.
CONCURRENT Does not have concurrent positions in companies or other
POSITIONS institutions in accordance with the prevailing OJK Regulations.
72 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
DUTIES AND Director of BCA, responsible for Risk Management,
RESPONSIBILITIES Enterprise Security, and Corporate Communications & Social
Responsibility.
CAREER Antonius Widodo Mulyono has had an extensive experience of
more than 30 years in the banking industry in Indonesia. From
2019 until 2022, he served as Director of PT Asuransi Jiwa BCA,
in charge of the marketing of Asuransi Jiwa BCA products in all
distribution channels.
Prior to serving as Director of PT Asuransi Jiwa BCA, he
served as the Business Director with PT Bank DKI (2015-2018),
Commissioner of PT Asuransi Umum BCA (2014-2015), and in
a number of other positions with PT Bank Central Asia Tbk,
including as Head of Commercial & SME Division (2011-2015),
Head of Regional Office II Central Java & DI Yogyakarta
(2009-2011), Head of Regional Office IV Denpasar Bali (2008-
Antonius Widodo Mulyono 2009), Head of BCA Malang Branch Office (2006-2008),
Director Deputy Division Head of Retail Banking (2003-2006), Head
of BCA Yogyakarta Branch Office (2000-2003), and Head of
Branch Credit Bureau (1994-1999). Currently, he also serves as
Indonesian citizen, 61 years
Chairman of the Communication Division for the period 2023-
old. Domiciled in Indonesia. 2027 at the Indonesian Bankers Association (IBI).
Appointed as Director of BCA
at the 2022 Annual GMS and During his career, he accumulated extensive experience in
obtained the approval of OJK various areas and assignments, including in commercial &
on 22 April 2022, for a term of SME banking, retail banking, branch banking management,
office until the end of the Annual marketing strategy, general insurance, life insurance,
management community development, and corporate
GMS in 2026.
communication.
EDUCATION, He held a Bachelor’s degree in Economics as well as a Magister
CERTIFICATION, Management degree, both from Universitas Gadjah Mada,
AND TRAINING Yogyakarta.
IN 2024
Certifications:
• Risk Management Certification Refresher Program – BARa
Risk Forum: Digitalization of Risk Management.
• Certification Maintenance Program for Risk Management
Level 7 - Optimization of Active Supervision by the Board of
Commissioners: In-Depth Exploration of the Functions and
Active Roles of Commissioners in the BANI (Brittle, Anxious,
Non-Linear, and Incomprehensible) Era.
Tranings, seminars, and conferences attended in 2024 are
presented on page 340 in this Annual Report.
AFFILIATIONS No financial relationship, stock ownership relationship,
and/or family relationship with members of the Board of
Commissioners, fellow member of the Board of Directors, and/
or the controlling shareholders of BCA.
CONCURRENT Does not have concurrent positions in companies or other
POSITIONS institutions in accordance with the prevailing OJK Regulations.
2024 Annual Report PT Bank Central Asia Tbk 73
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Board of Commissioners Profile
CAREER Djohan Emir Setijoso served as President Director of BCA
(1999-2011), lastly responsible for overall coordination, Internal
Audit Division, Corporate Planning, Finance & Accounting,
and Corporate Secretary. Prior to joining BCA, he worked at
Bank Rakyat Indonesia (1965-1998) with his last position as a
Director; and President Commissioner of Inter Pacific Bank
(1993-1998). In addition to serving as President Commissioner
of BCA, he is currently active in various organizations.
During his career, he accumulated extensive experience in a
variety of areas or assignments, including banking & financial
strategy, banking supervision, internal audit, corporate
banking, branch banking, and individual banking.
EDUCATION, Obtained a Bachelor’s degree from Institut Pertanian Bogor
CERTIFICATION, in 1964.
AND TRAINING
Djohan Emir Setijoso IN 2024 Certifications:
President Commissioner • Risk Management Level 7.
Trainings, seminars, and conferences attended in 2024 are
Indonesian citizen, 83 years
presented on page 321 in this Annual Report.
old, domiciled in Indonesia.
Appointed as President
Commissioner of BCA at the AFFILIATIONS No financial relationship, stock ownership relationship, and/
or family relationship with fellow members of the Board of
2011 Annual GMS and obtained
Commissioners, members of the Board of Directors, and/or
the approval of Bank Indonesia the controlling shareholders of BCA.
on 25 August 2011. Lastly,
reappointed to the position
CONCURRENT Does not have concurrent positions in companies or other
at the 2021 Annual GMS for a
POSITIONS institutions in accordance with the prevailing OJK Regulations.
5-year term.
74 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
CAREER Prior to joining BCA, he served as Director of PT Cipta Karya
Bumi Indah, a property development and construction
company (2001-2002), following a previous posting in the
company as Commissioner. Tonny Kusnadi has also served
as Chief Manager of Corporate Banking at BCA (1992-1998)
as well as various managerial positions in several other
companies, including President Director of PT Sarana Kencana
Mulya, an electronic distributor company (1999-2001), General
Manager of PT Tamara Indah, an engineering and general
supplier company (1988-1992), and General Manager of
PT Indomobil, a leading Indonesian automotive company
(1987).
During his career, he accumulated extensive experience in
various areas and assignments, including corporate banking,
banking operations & services, and corporate planning.
Tonny Kusnadi EDUCATION, Obtained a Bachelor’s degree in Mechanical Engineering from
Commissioner CERTIFICATION, Universitas Brawijaya, Malang in 1978.
AND TRAINING
IN 2024 Certifications:
Indonesian citizen, 77 years
• Risk Management Level 6.
old. Domiciled in Indonesia.
Appointed as Commissioner of Trainings, seminars, and conferences attended in 2024 are
BCA at the 2003 Annual GMS presented on page 321 in this Annual Report.
and obtained the approval of
Bank Indonesia on 4 September AFFILIATIONS No financial relationship, stock ownership relationship, and/
2003. Lastly reappointed to the or family relationship with fellow members of the Board of
position at the 2021 Annual GMS Commissioners, members of the Board of Directors, and/or
for a 5-year term. the controlling shareholders of BCA.
CONCURRENT Currently also serves as President Commissioner of PT Sarana
POSITIONS Menara Nusantara Tbk.
2024 Annual Report PT Bank Central Asia Tbk 75
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
CAREER Prior to joining BCA, he has had a career in Bank Indonesia (BI)
for around 25 years, including in the position of Director of the
Money Market and Giralization and Monetary Management
Department (1994-1998), a director-level position. He has
also served as Alternate Executive Director and Technical
Assistance Advisor for Monetary and Exchange Affairs
Department, the International Monetary Fund (IMF), Washington
(1998-2003). He has served in various managerial positions at
both government and non-government institutions, including
as Staff to the Minister of Trade (1988-1989).
He is an active lecturer with a number of leading universities
in Jakarta, and a regular speaker at seminars and forums both
domestically and abroad as well as writing articles for mass
media. He has published books on Indonesia’s public debt
(2002) and on the IMF (2004), ‘Indonesian Economic Spring’
(2005), ‘Oceanic Joy: A Journey of a Big Indonesian Shipping
Cyrillus Harinowo Company’ (2020), ‘Towards the Age of Electric Vehicles’ (2021),
‘Towards the Renewable Energy Era’ (2022), and ‘Gunungkidul,
Independent Commissioner The Next Bali’ (2022), ‘Indonesia as the Gravity Center of the
World Battery Industry’ (2023), and ‘Multi-Pathways for Car
Indonesian citizen, 71 years Electrification’ (2024).
old. Domiciled in Indonesia.
Appointed as Independent During his career, he accumulated extensive experience
in various areas and assignments, including in monetary
Commissioner of BCA at the
economy, macro & international economy, banking & finance,
2003 Annual GMS and obtained and renewable energy.
the approval of Bank Indonesia
on 4 September 2003. Lastly
EDUCATION, Obtained a Bachelor’s degree in Accounting from Universitas
reappointed to the position
CERTIFICATION, Gadjah Mada (1977), a Master’s degree in Development
at the 2021 Annual GMS for a AND TRAINING Economics from Williams College, Massachusetts (1981), and a
5-year term. IN 2024 PhD in International Monetary and Economics from Vanderbilt
University, Nashville, Tennessee, USA (1985).
Certifications:
• Risk Management level 6.
Trainings, seminars, and conferences attended in 2024 are
presented on page 321 in this Annual Report.
AFFILIATIONS No financial relationship, stock ownership relationship, and/
or family relationship with fellow members of the Board of
Commissioners, members of the Board of Directors, and/or
the controlling shareholders of BCA.
CONCURRENT Does not have concurrent positions in companies or other
POSITIONS institutions in accordance with the prevailing OJK Regulations.
76 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
CAREER He served as Independent Commissioner of PT Adaro Energy
Indonesia, Tbk (2010-2022), President Commissioner of
PT Perusahaan Pengelola Aset (2008-2009), Deputy President
Director of PT Perusahaan Pengelola Aset (2004-2008),
Executive Director of PT Dana Reksa (2002-2004), Chief
Economist and Head Division of PT Dana Reksa (1995-2002),
Executive Director of PT Danareksa (2002-2004), Chief
Economist and Head Division of PT Danareksa (1995-2002).
In addition, Raden Pardede has held various positions in several
companies and governments, including Secretary General of
the Committee for COVID Handling and National Economic
Recovery (2020-2023), Vice Chairman of the National
Economic Committee (2010-2014), Special Staff to the
Minister of Finance (2008-2010), Chairman of the Indonesian
Financial System Stability Forum (2007-2009), Secretary
of the Financial System Stability Committee (2008-2009),
Raden Pardede Chairman of Indonesian Infrastructure Development Financing
(2004-2005), Special Staff to the Coordinating Minister for
Independent Commissioner Economic Affairs (2004-2005), Deputy Coordinator of the
Assistance Team to the Minister of Finance (2000-2004),
Indonesian citizen, 64 years Founder of Danareksa Research Institute (1995), Consultant at
old. Domiciled in Indonesia. the World Bank (1994-1995), Planning Staff at the Ministry of
Appointed as Commissioner of Industry (1985-1990), and Process Engineer at PT Pupuk Kujang
(1985).
BCA at the 2004 Annual GMS
and obtained the approval Raden Pardede is a visiting lecturer at Institut Teknologi
of Bank Indonesia on 14 June Bandung, Universitas Indonesia, and Prasetiya Mulya Business
2004. Lastly reappointed to the School.
position at the 2021 Annual GMS
for a 5-year term. During his career, he accumulated extensive experience in
various fields and assignments, including monetary economy,
economic development planning, scenario planning, banking
& finance, and macroeconomic policy.
EDUCATION, Obtained a Bachelor’s degree in Chemical Engineering from
CERTIFICATION, Institut Teknologi Bandung and a PhD in Economics from
AND TRAINING Boston University, USA.
IN 2024
Certifications:
• Risk Management level 6.
Trainings, seminars, and conferences attended in 2024 are
presented on page 321 in this Annual Report.
AFFILIATIONS No financial relationship, stock ownership relationship, and/
or family relationship with fellow members of the Board of
Commissioners, members of the Board of Directors, and/or
the controlling shareholders of BCA.
CONCURRENT Currently also serves as Independent Commissioner of
POSITIONS PT Global Digital Niaga Tbk.
2024 Annual Report PT Bank Central Asia Tbk 77
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
CAREER He served as Independent Commissioner and Chairman of the
Audit Committee of PT Multi Bintang Indonesia Tbk, member
of the Board of Trustees of Universitas Indonesia, Chairman of
the Risk Committee at Universitas Indonesia, member of the
Information Technology & Risk Management Committee of
PT Bursa Efek Indonesia, Remuneration & Nomination
Committee and Audit Committee at PT Bank CIMB Niaga Tbk,
and President Commissioner of PT Danakita Investama, an
investment management company.
He has also held managerial and director positions in several
companies, including Head of Project Finance and Investor
Relations - Strategy and Business Development at PT Medco
Energy International Tbk (2008-2013) and concurrently as
Managing Director at several Medco subsidiaries outside
Indonesia, namely in Singapore, United States, Oman, Yemen,
and France (2008-2013). Additionally, he once served as a
Sumantri Slamet Director at PT Surya Citra Televisi-SCTV (2005-2008) and
Director at PT Surya Citra Media Tbk (2004-2008).
Independent Commissioner
During his career, he accumulated extensive experience
Indonesian citizen, 70 years in various areas and assignments, including IT, finance,
old. Domiciled in Indonesia. capital market, audit, risk management, and remuneration &
Appointed as Independent nomination.
Commissioner of BCA at the
2016 Annual GMS and obtained EDUCATION, Graduated with a Bachelor’s degree majoring in Mathematics
the approval of OJK on 11 July CERTIFICATION, at the Faculty of Mathematics and Natural Sciences of
2016. Lastly reappointed to the AND TRAINING Universitas Indonesia (1978) and obtained a Master’s degree
IN 2024 (1981) and a PhD (1983) in Computer Science from the University
position at the 2021 Annual GMS
of Illinois, Urbana Champaign, USA.
for a 5-year term.
Certifications:
• Risk Management level 6.
Trainings, seminars, and conferences attended in 2024 are
presented on page 321 in this Annual Report.
AFFILIATIONS No financial relationship, stock ownership relationship, and/
or family relationship with fellow members of the Board of
Commissioners, members of the Board of Directors, and/or
the controlling shareholders of BCA.
CONCURRENT Currently also serves as a Member of the Risk Committee of
POSITIONS Universitas Indonesia (effective until August 2024).
78 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Audit Committee Profile
Sumantri Slamet has been the Chairman of the BCA Audit Committee since April
22, 2021, based on Director’s Decree No. 073/SK/DIR/2021. He also serves as
Independent Commissioner. Detailed information can be found in the Board of
Commissioners’ Profile section on page 78.
Sumantri Slamet
Chairman
CAREER She began her career in 1990 as an internal auditor at
PT BCA Tbk, later becoming Head of General Audit Affairs at
the Head Office and Regional Offices (1996-1997), Head of
Audit Bureau at the Head Office and Regional Offices (1997-
1999), and Head of Audit Bureau for Branches Area 1 (1999-
2004). She then joined the Finance and Planning Division as
Senior Advisor for Cost Effectiveness Evaluation (2013-2014).
Later, she served as Head of the Subsidiary Monitoring & Cost
Effectiveness Evaluation Subdivision (2015-2018), and Head
of Business Finance & Planning Subdivision in the Corporate
Strategy & Planning Division (2019-2020).
Throughout her career, she has gained experience and
expertise in various fields, particularly in Banking.
EDUCATION, She graduated from the Faculty of Economics at Universitas
CERTIFICATION, Trisakti (1990) and holds a Master of Management degree from
Fanny Sagitadewi AND TRAINING Sekolah Tinggi Manajemen PPM (2005).
Member IN 2024
Certifications:
• Risk Management Level 6, issued by LSPP.
Indonesian citizen, 59 years old,
residing in Indonesia. She was Trainings, seminars and conferences attended in 2024 are
appointed as a member of the presented on page 372 in this Annual Report.
BCA Audit Committee on April
22, 2021, based on Director’s
Decree No. 073/SK/DIR/2021.
2024 Annual Report PT Bank Central Asia Tbk 79
Page 82
Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
CAREER Prior to joining the BCA Audit Committee, she served as a
member of the Audit Committees at PT Tugu Pratama Indonesia,
the University of Indonesia, and PT Krakatau Steel Tbk. Rallyati
A. Wibowo started her career in 1986 as an accountant at Drs.
Hadi Sutanto & Rekan Accounting Firm (Price Waterhouse). She
then held managerial positions at several companies, including
Vice President – Financial Controller at PT Sewu New York Life
(1992-1995), Vice President – Head of Finance and Accounting
at PT Kustodian Depositori Efek Indonesia (1995-2005). Later,
she became Vice President – Head of Finance, Accounting
& Tax, Human Resources & GA Division, and Vice President –
Head of Risk Management at PT Surya Citra Media Tbk (2005-
2009). She also served as Finance and Administration Director
at PT Indospec Asia (2012), and Independent Director at PT Adi
Sarana Armada Tbk (2012-2015).
Currently, she is a lecturer at the Faculty of Economics and
Rallyati A. Wibowo Business, Universitas Indonesia (FEBUI), and an Independent
Commissioner and Chair of the Audit Committee at PT WOM
Member Finance Tbk. (October 2024 - present), a member of the Audit
Committee at PT Mitrabara Adiperdana Tbk. (October 2024 -
Indonesian citizen, 64 years old, present), and a member of the Indonesian Audit Committee
domiciled in Indonesia. She was Association (IKAI) (October 2019 - present).
appointed as a member of the
Throughout her career, she has gained extensive experience in
BCA Audit Committee on April
various fields, including Finance and Accounting.
22, 2021, based on Director’s
Decree No. 073/SK/DIR/2021.
EDUCATION, She holds a Bachelor’s degree in Accounting from the University
CERTIFICATION, of Indonesia (1985) and a Master’s degree in Accounting from
AND TRAINING the University of Indonesia (2010).
IN 2024
Certifications:
a. Audit Committee Practice Certification (CACP), issued by
Ikatan Komite Audit Indonesia (IKAI).
b. Chartered Accountant (CA) issued by Ikatan Akuntan
Indonesia (IAI)
Trainings, seminars and conferences attended in 2024 are
presented on page 372 in this Annual Report.
80 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Risk Oversight Committee
Profile
Cyrillus Harinowo has been the Chairman of the BCA Risk Monitoring Committee since
April 29, 2021, based on Director’s Decree No. 079/SK/DIR/2021. He also serves as an
Independent Commissioner and Chairman of the Integrated Governance Committee.
Detailed information can be found in the Board of Commissioners’ Profile section on
page 76.
Cyrillus Harinowo
Chairman
CAREER Endang Swasthika Wibowo is an academician and researcher
in the fields of risk management, finance, and banking.
Previously, she served as the Head of the Master’s Program
in Banking Management at ABFII Perbanas, a trainer for risk
management (Certified GARP – BSMR), Head of the Research
and Community Service Center at Perbanas (2000-2006),
Expert Staff in Economic and Banking Affairs at the Legislative
Body of the Indonesian Parliament (2000-2005), Commissioner
of PT Putera Lintas Kemas, an Air Freight Forwarder Company
(2000-2004), and Head of the Management Department at
STIE Perbanas (1990-1993).
Throughout her career, she has gained experience and
expertise in finance and banking.
EDUCATION, She graduated from the Faculty of Economics at Universitas
CERTIFICATION, Islam Indonesia, Yogyakarta (1985), earned a Graduate Diploma
Endang Swasthika Wibowo AND TRAINING in Banking & Finance (1996), and a Master’s degree in Banking
Member IN 2024 from Monash University, Australia (1998).
Certifications:
Indonesian citizen, 63 years old,
a. General Banking Trainer, issued by the Professional Banking
domiciled in Indonesia. Certification Institute (LSPP).
She has been a member of the b. Trainer for Payment Systems and Management of Rupiah
BCA Risk Monitoring Committee (SPPUR) – Bank Indonesia.
since 2007. Her most recent c. Risk Management Level 6 – LSP BSMR.
appointment was effective on
December 18, 2023, based on Trainings, seminars, and conferences attended in 2024 are
presented on page 379 in this Annual Report.
Director’s Decree No. 0212/SK/
DIR/2023.
2024 Annual Report PT Bank Central Asia Tbk 81
Page 84
Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
CAREER Joanes Justira Gunawan started his career at BCA as an internal
audit staff in the Internal Audit Division (1990-1996), Head of the
Internal Audit Division (1997-2001), Deputy Head of the Internal
Audit Division (2001-2012). He then joined the Electronic Banking
Services Center (2012-2020) as Head of the Electronic Banking
Services Center.
He was also assigned as Commissioner at PT. Abacus Cash
Solution (2019-2023). After retiring in 2020, he became
Commissioner at PT. Abacus Teknika Solusindo (2021-2023),
Commissioner at PT. Zeals Digital Asia (2022-present), and
President Commissioner at PT. Abacus Dana Pensiuntama (2023-
2024). He rejoined BCA as a member of the Risk Monitoring
Committee in January 2024.
Throughout his career, he gained experience and expertise in IT
Audit and electronic operations.
Joanes Justira Gunawan EDUCATION, He holds a Bachelor’s degree from Universitas Trisakti (1989) and
Member CERTIFICATION, a Master’s degree in Management from the University of Budi
AND TRAINING Luhur Jakarta (2023).
IN 2024
Indonesian citizen, 59 years old, Certifications:
residing in Indonesia. He was • Banking Risk Management Level 7, issued by LSPP.
appointed as a member of the
BCA Risk Monitoring Committee Trainings, seminars, and conferences attended in 2024 are
presented on page 380 in this Annual Report.
on December 18, 2023, based on
Director’s Decree No. 0212/SK/
DIR/2023.
CAREER Reinhard Harianja began his career at Bank BTN as a Staff
Officer in the Officer Development Program (1991-1994) in KC
Jayapura and Head of Section at KC Samarinda (1994-1997),
as well as Head of Operational Risk Management at the Risk
Management Division (2005-2009). He then worked as Branch
Manager at KC Mataram (2009-2010), AVP Operational Risk at
the Risk Management Division (2010-2011), Head of Operational
Risk Management Department (2011-2012), and Division/Branch
Risk Management Coordinator (Feb 2012-July 2012). He later
became Vice President, Head of the Risk Management Division
(2013-2015), Business Deputy Regional Manager at the
Surabaya Regional Office 2 (2015-2017), and Housing Finance
Center Head (2017 until his retirement preparation in 2018).
He was appointed as a member of the Audit Committee at
PT Perusahaan Perdagangan Indonesia (Persero) since 2020 and
as a member of the BCA Risk Monitoring Committee since 2024.
In the banking industry, he was actively involved in the Banker
Association for Risk Management (BARa) as Deputy Director of
Liquidity Risk (2018) and Deputy Executive Director (2018-2021).
Reinhard Harianja
Member Throughout his career, he gained experience and expertise in
Risk Management.
Indonesian citizen, 61 years old,
domiciled in Indonesia. He was EDUCATION, He holds a Bachelor’s degree from the Bogor Agricultural Institute
CERTIFICATION, (1987) and a Master’s degree in Management from Universitas
appointed as a member of the Gajah Mada (1999). He is currently pursuing a Doctoral Program
AND TRAINING
BCA Risk Monitoring Committee (Ph.D.) in Communication & Leadership at the London School of
IN 2024
on December 18, 2023, based Public Relations.
on Director’s Decree No. 0212/
Certifications:
SK/DIR/2023 regarding the a. Banking Risk Management Qualification Level 7.
Appointment of Members of the b. Payment Systems and Rupiah Money Management (SPPUR)
Risk Monitoring Committee. qualification Level 6, Subfield Cash Handling.
c. Fund Transfer Management for Banks and Foreign Currency
Exchange and Foreign Currency Banknote Handling issued by
LSP-LSPP.
d. Certification in Audit Committee Practices (CACP) issued by
the Indonesian Audit Committee Association (IKAI).
e. Competency Assessor Certificate issued by LSP-LSPP;
Certified Credit Manager issued by the Indonesian Bankers
Association.
Trainings, seminars, and conferences attended in 2024 are
presented on page 380 in this Annual Report.
82 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Remuneration and Nomination
Committee Profile
Raden Pardede has served as Chairman of the Remuneration and Nomination Committee
of BCA since 7 April 2021 based on Board of Directors Decree No. 064B/SK/DIR/2021.
Concurrently, he is also an Independent Commissioner of BCA. His complete profile is
presented in the Board of Commissioner Profile on page 77.
Raden Pardede
Chairman
Djohan Emir Setijoso has served as member of the Remuneration and Nomination
Committee of BCA since 7 April 2021 based on Board of Directors Decree
No. 064B/SK/DIR/2021. Concurrently he is also the President Commissioner of
BCA. His complete profile is presented in the Board of Commissioner Profile on
page 74.
Djohan Emir Setijoso
Member
2024 Annual Report PT Bank Central Asia Tbk 83
Page 86
Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
CAREER Started his career with BCA through the Management
Development Program (MDP) in 1994, and subsequently
held various positions as Head of Operations at KCU Cikokol
(1998-1999), Head of Compensation and Employment Services
Bureau (2005-2012), Head of Human Capital Services Sub-
Division (2012-2016), Head of Human Strategy & Solutions
Sub-Division (2016-2020), and lastly as Head of Human Capital
Division (January 2021 - present).
During his career, he has accumulated extensive experience
and skills in various areas or assignments, including as Director
of Pension Fund.
EDUCATION, Obtained a Bachelor’s degree in Agribusiness from Institut
CERTIFICATION, Pertanian Bogor (1993) and Master’s Degree in Management
AND TRAINING from Sekolah Tinggi Manajemen PPM (2005).
IN 2024
Rudi Lim Trainings, seminars and conferences attended in 2024 are
Member presented on page 385 in this Annual Report.
Indonesian citizen, 54 years
old. Domiciled in Indonesia.
Appointed as a member of the
Remuneration and Nomination
Committee of BCA since
7 April 2021 based on Board of
Directors Decree No. 064B/SK/
DIR/2021.
84 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Integrated Governance
Committee Profile
Cyrillus Harinowo has been serving as the Chairman of the Integrated Governance
Committee at BCA since May 6, 2021, based on Decree No. 088/SK/DIR/2021.
He also holds the position of Independent Commissioner and Chairman of the Risk
Monitoring Committee. Further details are available in the Board of Commissioners
Profile section on page 76.
Cyrillus Harinowo
Chairman
CAREER Prabowo started his career at Bank Indonesia in 1985, holding
various positions, with his last role as Director of Banking
Investigation and Mediation (2012-2013). He later joined
the Financial Services Authority (OJK) as Director of Market
Conduct (2014-2015), and as the President Director of the OJK
Pension Fund (2015-2019).
His career has equipped him with extensive experience in
human resources, finance, and banking.
EDUCATION, He earned a Bachelor’s degree in Civil Law from the University
CERTIFICATION, of Gadjah Mada (1984) and an MBA in International Business
AND TRAINING from the University of Stirling, Scotland, United Kingdom
IN 2024 (1994).
Trainings, seminars and conferences attended in 2024 are
presented on page 391 in this Annual Report.
Prabowo
Member
An Indonesian citizen, 66 years
old, residing in Indonesia. He
was appointed as a member of
BCA’s Integrated Governance
Committee on May 6, 2021,
following Director’s Decree No.
088/SK/DIR/2021.
2024 Annual Report PT Bank Central Asia Tbk 85
Page 88
Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
CAREER Sulistiyowati started her career in an export-import company
from 1978 to 1981. In 1981, she joined PT Bank Central Asia
Tbk, where she worked in various roles until 2004, with her
last position as Head of the Finance and Accounting Division.
She then became a financial trainer and consultant, as well
as a partner at Elevasi Performa Insani. She has been an
Independent Commissioner at PT BCA Finance since 2016.
Her expertise includes accounting and finance.
EDUCATION, She graduated in Accounting from the Indonesian Accounting
CERTIFICATION, Foundation (1983) and the PPM School of Management (1996).
AND TRAINING
IN 2024 Trainings, seminars and conferences attended in 2024 are
presented on page 391 in this Annual Report.
Sulistiyowati
Member
An Indonesian citizen, 65 years
old, residing in Indonesia. She
has been serving as a member
of BCA’s Integrated Governance
Committee since May 6, 2021,
in accordance with Decree No.
088/SK/DIR/2021. She is also an
Independent Commissioner at
PT BCA Finance.
CAREER Before joining BCA, Gustiono Kustianto held senior positions
in the financial and non-financial industries, including VP at
Citibank N.A. Jakarta, Director of PT Bank Tiara Asia Tbk,
Head of the Bank Restructuring Unit at the Indonesian Bank
Restructuring Agency (BPPN), Vice President Director at
PT Bank Internasional Indonesia Tbk (now PT Bank Maybank
Indonesia Tbk), Director of PT Tri Polyta Indonesia Tbk (now
PT Chandra Asri Petrochemical Tbk), CFO at PT Broadband
Multimedia Tbk (now PT First Media Tbk), and President Director
at PT Indonesia Air Transport Tbk.
He has expertise in financial management and risk
management.
EDUCATION, He holds a Civil Engineering degree from the Faculty of Civil
CERTIFICATION, Engineering at Universitas Kristen Petra, Surabaya (1979),
AND TRAINING and an MBA from the Indonesian Management Development
Gustiono Kustianto IN 2024 Institute (IPMI) in 1988.
Member
Trainings, seminars and conferences attended in 2024 are
presented on page 391 in this Annual Report.
An Indonesian citizen, 70 years
old, residing in Indonesia.
He has been a member of
BCA’s Integrated Governance
Committee since 2015, with
his most recent reappointment
effective May 6, 2021, as per
Decree No. 088/SK/DIR/2021.
He has also been an Independent
Commissioner at PT Asuransi
Umum BCA since 2011.
86 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
CAREER Before joining BCA, Pudjianto had a 31-year career at
PT Asuransi Kesehatan Indonesia (PT Askes), followed by
5 years at PT Asuransi Jiwa InHealth Indonesia. He started his
career as a staff member in the Finance Division at PT Askes
in 1977, and later rose through the ranks to become Assistant
Manager (1983-1987), Manager (1988-1999), and General
Manager (2000-2008). He became the Finance Director at PT
Asuransi Jiwa InHealth Indonesia (2009-2013).
His expertise lies in financial management, accounting, and life
insurance risk management.
EDUCATION, He completed his Bachelor’s degree in Business Administration
CERTIFICATION, from the Universitas Terbuka, Jakarta (1990) and his Master’s in
AND TRAINING Financial Management from the IMMI School of Management,
IN 2024 Jakarta (2002).
Pudjianto Trainings, seminars and conferences attended in 2024 are
Member presented on page 391 in this Annual Report.
An Indonesian citizen, 68 years old,
residing in Indonesia. He has been
a member of BCA’s Integrated
Governance Committee since 2015,
with his reappointment effective
May 6, 2021, according to Decree
No. 088/SK/DIR/2021. He is also
the Independent Commissioner and
Chairman of the Audit Committee
at PT Asuransi Jiwa BCA since
November 2014.
CAREER Joined BCA in 1991, with experience in branches
(1992-2001) and various strategic positions in Consumer
Lending at the Head Office, including Head of Business
Development (2001-2004), Head of Marketing and Sales
(2004-2007), Head of Operation (2007-2011), and most
recently as Division Head of Consumer Lending (2011-2022).
Throughout her career, she has accumulated experience
and expertise in various fields and assignments, especially
in strategic planning and development of consumer lending,
joint financing, risk management, and managing banking
operations.
EDUCATION, Obtained her Bachelor degree from the Faculty of Economics
CERTIFICATION, Management Program at Tarumanagara University in 1990.
AND TRAINING
IN 2024 Trainings, seminars and conferences attended in 2024 are
Felicia Mathilda Simon presented on page 391 in this Annual Report.
Member*
Indonesian citizen, 57 years old.
Domiciled in Indonesia.
Appointed as a member of the
Integrated Governance
Committee of BCA on September
2023, based on Board of
Directors Decree No. 0154/SK/
DIR/2023. Currently also serves
as an Independent Commissioner
of PT BCA Multi Finance.
* In office until August 31 2024, as the merger of
PT BCA Multi Finance took effect on September 1, 2024.
2024 Annual Report PT Bank Central Asia Tbk 87
Page 90
Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
CAREER Before becoming the Independent President Commissioner at
BCAS, Ratna Yanti worked at BCA from 1988 to 2018, starting
as an HR staff member in recruitment and later holding key
positions such as Head of the Surabaya Regional Office (2015-
2018), Semarang Regional Office (2011-2015), Balikpapan
Regional Office (2010-2011), and Branch Manager at several
BCA branches. She was also Head of BCA’s team in acquiring
Bank Royal Indonesia and Rabobank Indonesia from 2019 to
2020.
Her expertise includes operations, banking supervision, and
clinical psychology.
EDUCATION, She earned her Bachelor’s degree in Psychology from
CERTIFICATION, Universitas Surabaya in 1987.
AND TRAINING
IN 2024 Trainings, seminars and conferences attended in 2024 are
Ratna Yanti presented on page 392 in this Annual Report.
Member
An Indonesian citizen, 61 years old,
residing in Indonesia. She became
a member of BCA’s Integrated
Governance Committee on March
31, 2022, with her most recent
reappointment effective March
10, 2023, according to Decree No.
0050/SK/DIR/2023. She also serves
as the President Commissioner at
PT Bank BCA Syariah.
CAREER Before joining PT Bank BCA Syariah, Sutedjo Prihatono worked
at PT Bank Muamalat Indonesia Tbk from 1993 to 2004 as
Senior Corporate Banking, then became Director at Karim
Business Consultant (2004-2014). He also served as Audit and
Risk Monitoring Committee at PT Bank BCA Syariah from 2010
to 2015.
His expertise includes Sharia banking and general management.
EDUCATION, He holds a Bachelor’s degree in Management from the Faculty
CERTIFICATION, of Economics at Universitas Krisnadwipayana (1993) and a
AND TRAINING Master’s in Management from Binus Business School (2014).
IN 2024
Trainings, seminars and conferences attended in 2024 are
presented on page 392 in this Annual Report.
Sutedjo Prihatono
Member
An Indonesian citizen, 56 years
old, residing in Indonesia.
He has been a member of
BCA’s Integrated Governance
Committee since 2015, with his
reappointment effective May
6, 2021, as per Decree No. 088/
SK/DIR/2021. He also serves as a
member of the Sharia Supervisory
Board at PT Bank BCA Syariah.
88 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
CAREER Hendra Iskandar Lubis is currently serving as the Risk Planning
and Monitoring Committee of Perum Perumnas (September
2020-present), Audit Committee of PT Hasnur International
Shipping Tbk (May 2021-present), President Director of PT
Central Sudirman Development (June 2021-present). Hendra
Iskandar Lubis is also an independent consultant in the field
of corporate finance and capital markets (2012-2014 and
2016-present). Previously, he served as President Director
of PT Pefindo Riset Konsultasi (2014-2016), Director of
Investment Banking & Corporate Finance at PT OSK Nusadana
Securities Indonesia (2006-2012), Director of PT Catunilai
Finans Adhinarya (2002-2006), Advisor at Lippo Group (2000-
2002), and Group Head of Bank Restructuring and Division
Head of Asset Management Investment at the Indonesian Bank
Restructuring Agency (1998-2000).
During his career, he has gained experience and expertise in
Hendra Iskandar Lubis various fields and assignments including capital markets and
finance.
Member
EDUCATION, He earned his Bachelor’s degree in Urban & Regional Planning
An Indonesian citizen, 58 years old,
CERTIFICATION, from Bandung Institute of Technology (1990) and an MBA from
domiciled in Indonesia. He has been AND TRAINING George Washington University, USA (1994).
a member of BCA’s Integrated IN 2024
Governance Committee since 2017, Trainings, seminars and conferences attended in 2024 are
with his reappointment effective presented on page 392 in this Annual Report.
May 6, 2021, in accordance with
Decree No. 088/SK/DIR/2021.
He also serves as an Independent
Commissioner at PT BCA Sekuritas
since 2017.
CAREER Janto Havianto has spent much of his career in the Treasury
world in several local and international banks, starting from
Bank Bali (1992-1996), PT Bank Credit Agricole Indonesia (1996-
2002), PT Rabobank Indonesia (2002-2008) and finally joining
PT Bank Central Asia Tbk in 2008 with his last position as Head
of Treasury Division in 2020-2021.
During his career, he has gained a lot of experience and expertise
in the Treasury field, related to activities and transaction
management in the fields of ALM, Money Market, Forex, Fixed
Income, Derivative and Structured Products in meeting the
needs of customers, both individuals, corporations, interbank,
and wholesale clients, including developing Treasury System
Support.
EDUCATION, He completed his Bachelor’s in Electrical Engineering from
CERTIFICATION, Universitas Indonesia (1992) and a Master of Science in Sharia
Janto Havianto AND TRAINING Banking from PSKTTI Universitas Indonesia (2010).
Member IN 2024
Certifications:
a. Treasury Dealer Level Advance Competency Certificate
An Indonesian citizen, 56 years
(Level-7) from LSPP in 2022.
old, domiciled in Indonesia. b. Assessor Competency Certification from LSPP in 2021.
He became a member of
BCA’s Integrated Governance Trainings, seminars and conferences attended in 2024 are
Committee on June 20, 2024, presented on page 392 in this Annual Report.
as per Decree No. 0093/SK/
DIR/2024. He also serves as an
Independent Director at
PT BCA Finance Limited since
June 13, 2024.
2024 Annual Report PT Bank Central Asia Tbk 89
Page 92
Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
CAREER Before serving as Independent Commissioner of PT Bank
Digital BCA, he had a career at BCA (1990-2020) and started
his career in the Internal Audit Division before continuing
his career in Consumer Banking BCA since 1995 with his
last position as Head of the Banking Transaction Product
Development Division (February 2020).
During his career, she has gained experience and expertise
in various fields, especially in the development of electronic
banking products, development of third party funds and
marketing communication.
EDUCATION, She holds a Bachelor’s in Food Technology from IPB (1988) and
CERTIFICATION, an MBA from IPMI (2006).
AND TRAINING
IN 2024 Trainings, seminars and conferences attended in 2024 are
presented on page 393 in this Annual Report.
Ina Suwandi
Member
An Indonesian citizen, 59 years
old, domiciled in Indonesia. She
has been serving as a member
of BCA’s Integrated Governance
Committee since September 14,
2023, based on Decree No. 0154/
SK/DIR/2023.
90 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Corporate Secretary Profile
CAREER He has held several managerial positions at BCA, including
Head of the Finance and Planning Division (2011-2018),
Corporate Secretary (2007-2011), and Head of Investor
Relations (2005-2006). Before joining BCA, he worked as
Vice President at the Indonesian Financial Sector Policy
Committee (2002-2003), Vice President at the Indonesian
Bank Restructuring Agency (1998-2002), Banking Analyst at
PT DBS Securities Indonesia (1996-1998), and in the Accounting,
Finance, and Internal Audit Departments at Modern Group
(1994-1996).
During his career, he gained experience in various fields,
including ESG, financial accounting & tax, capital markets/
capital raising, mergers and acquisitions, corporate planning
and strategy, investor relations, and regulatory reporting.
EDUCATION, He holds a Bachelor of Arts degree in Accounting from the
Raymon Yonarto CERTIFICATION, Philippines Christian University (1994) and an MBA from
Corporate Secretary AND TRAINING the Strathclyde University in the UK, where he received a
IN 2024 Chevening Scholarship.
Indonesian citizen, 54 years old, Trainings, seminars and conferences attended in 2024 are
residing in Indonesia. He serves presented on page 419-420 in this Annual Report.
as the Corporate Secretary
of PT Bank Central Asia Tbk
(“BCA”) since September 1,
2019, based on Appointment
Letter No. 2271/SK/HCM-
KP/A/2019. He is also the
Senior Executive Vice President
responsible for Industry &
Economic Research, Investor
Relations, ESG (Environment,
Social, and Governance), GCG
(Good Corporate Governance),
Corporate Secretary, Finance &
Accounting, Tax, and Regulatory
Reporting.
2024 Annual Report PT Bank Central Asia Tbk 91
Page 94
Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Senior Executive
As of December 31, 2024
Name Position
WEMINTO SURYADI Head of Regional Office I, Bandung
WIDJAJA STEPHEN Head of Regional Office II, Semarang
HENDRIK SIA Head of Regional Office III, Surabaya
HARIJANTO Head of Regional Office IV, Makassar
IWAN SANTOSO NARTO Head of Regional Office V, Medan
SUHARDJO MOELIADI Head of Regional Office VI, Palembang
HIANNI Head of Regional Office VII, Malang
LILIANA Head of Regional Office VIII, Pondok Indah, Jakarta
SEWAKA KOSASIH MULJADI Head of Regional Office IX, Matraman, Jakarta
IKA MAYA SARI KHAIDIR Head of Regional Office X, Pluit, Jakarta
JUNIARTA Head of Regional Office XI, Balikpapan
TITIANI Head of Regional Office XII, Wisma Asia, Jakarta
WIRA CHANDRA Executive Vice President Grup Corporate Banking, Transaction & Finance
RAYMON YONARTO Executive Vice President CFO Office & Corporate Secretary
LINUS EKABRANKO WINDOE Executive Vice President Treasury Division & International Banking Division
LILIK WINARNI SOEDARSO Executive Vice President Operation Strategy & Development Group
DAVID FORMULA Executive Vice President Strategic Information Technology Group
DEDDY MULJADI HENDRAWINATA Executive Vice President Credit Risk Analysis Group
HERA FENDAYANI HARYN Head of Corporate Communication & Social Responsibility
LEO ARISTON Head of Internal Audit Division
FREDDY IMAN Head of Commercial & SME Banking Division
TJHONG WELLY YANDOKO Head of Consumer Credit Business Division
TJOE ANIEK SUSILOWATI Head of Cash Management Division
JAYAPRAWIRYA DIAH Head of Corporate Strategy & Planning Division
RUDI LIM Head of Human Capital Management Division
ADRIANUS WAGIMIN WANG Head of Individual Customer Business Development Division
TEDDY GUNAWAN Head of Learning & Development Division
ALRIANTO DJUNAIDI Head of Logistic and Building Division
NG A IM Head of Network Management & Regional Development Division
TJOE HENNY Head of International Banking Division
JUNITA GRACE Head of Treasury Division
INDRAWAN B Head of Wealth Management Division
ANDI AGUS SALIM Head of Corporate Credit Risk Analysis Group
EDY GUNAWAN Head of Corporate Credit Risk Analysis Group
FERRY Head of Corporate Credit Risk Analysis Group
TAN TESIEN TANUDJAJA Head of Corporate Credit Risk Analysis Group
SHIRLEY MAGDALENA Head of SME & Commercial Credit Risk Analysis Group
DJULIJANTO LIONG Head of SME & Commercial Credit Risk Analysis Group
BUDI MULJA ADI SENTANA Head of SME & Commercial Credit Risk Analysis Group
SIANNE DHALIA WINATA Head of SME & Commercial Credit Risk Analysis Group
92 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Name Position
HENRIETTA SOESILO Head of SME & Commercial Credit Risk Analysis Group
INGE SETIAWATY Head of Corporate Transaction Group
SYLNA Head of Corporate Banking Group
YAYI MUSTIKA PUDYANTI Head of Corporate Banking Group
KRISTIAN MARBUN Head of Corporate Banking Group
DENNY HARYANTO Head of Corporate Banking Group
HERU WIRAWAN CHANDRA Head of Corporate Banking Group
R. MARTHIN JOEL Head of Corporate Banking Group
WINNY HARIANTO Head of Corporate Support & Data Analytics
MARIA JASHINTA FRANSISKA Head of Corporate Finance Group
LILIANI KURNIAWAN Head of Corporate Branch Office
EVANS CHARLES BENNY H. Head of Digital Innovation Solutions Group
INDRA TJAHAJA Head of IT Infrastructure & Operations Group
LILY WONGSO Head of Enterprise IT Architecture, Data Management & Service Quality
THOMAS ARMAND LAHEY Head of Application Management Group
FERDINAN MARLIM H. S. Head of Information Technology Security Group
PAULINE Head of Modernization Group
I KETUT ALAM WANGSAWIJAYA Head of Transaction Banking Business Development & Marketing Division
JAN HENDRA Head of Transaction Banking Product Development Division
HENDRA TANUMIHARDJA Head of Transaction Banking Partnership Solution Development Division
WILSON KARIMUN Head of Transaction Banking Services
MARTINUS ROBERT WINATA Head of Wholesale Transaction Banking Product Development
RUDY WINARTO BUDIARDJO Head of Investor Relations
YUANDRI MARTUA PHILIP S Head of Tax
FELIX IVANATA DARMASETIA Head of Accounting
LINDA CHANDRAWATI Head of Environment Sustainability Governance
SUSANWATI Head of Experience Design - Consumer & Wholesale Banking Group
JUSTINA SUSILONINGSIH Head of Experience Design - Branch & Shared Service Group
ANDRY SANTOSO Head of Experience Design - Loan Operation and Credit Process Group
I MADE SUCITA Head of Application & User Acceptance Test Group
RENI SEPTIANA Head of E-Channel & Settlement Services
LANNY TANZANIA Head of Compliance Division
FAMIATI DAUN Head of Risk Management Division
EDY UNTUNG Head of Credit Recovery Group
RADIMAN ALI ROHIM Head of Global Trade & Payment Services
WANI Head of Contact Center & Digital Services
WIWIN WIELIANTI Head of Credit Administration Services
SUZI TANZINO Head of Legal Operation & Litigation Group
RIEKA Head of Legal Credit, Corporation & Asset Management Group
DAVID ERENST SUMUAL Head of Economic & Industry Research
ERIN SUTEDJA Head of Anti Fraud Bureau
2024 Annual Report PT Bank Central Asia Tbk 93
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Number of Employees and
Competence Development
Number of Employees
At the end of 2024, BCA had 26,532 employees, representing a decrease of 1.42% compared to 26,915 employees
in 2023.
Employee by Organization Level
2024 2023 2022
Non Staff 903 996 1,070
Staff 20,186 20,713 18,450
Managers 5,349 5,099 4,886
Senior Officers (Including the Board of Commissioners and Directors) 94 107 102
Total 26,532 26,915 24,508
Employee by Age
2024 2023 2022
≤ 25 Years old 4,377 4,978 3,740
> 25 – 30 Years old 6,494 5,973 5,387
> 30 – 35 Years old 5,430 5,565 4,998
> 35 – 40 Years old 2,690 2,089 1,435
> 40 – 45 Years old 899 999 1,462
> 45 – 50 Years old 2,561 3,033 3,675
> 50 Years old 4,081 4,278 3,811
Total 26,532 26,915 24,508
Employee by Education Level
2024 2023 2022
Up to Senior High School 2,108 2,460 2,574
Diploma and Undergraduate 23,155 23,282 20,869
Graduate and Doctorate 1,269 1,173 1,065
Total 26,532 26,915 24,508
Employee by Employment Status
2024 2023 2022
Permanent 24,685 24,054 22,291
Non Permanent (incl. contract, probationary, and trainee) 1,847 2,861 2,217
Total 26,532 26,915 24,508
Employee by Seniority
2024 2023 2022
≤ 1 Year 1,800 4,470 2,585
> 1 - 5 Year 8,185 5,828 4,698
> 5 - 10 Year 5,679 5,994 6,598
> 10 - 15 Year 3,353 2,261 1,560
> 15 - 20 Year 775 700 559
> 20 Year 6,740 7,662 8,508
Total 26,532 26,915 24,508
* Data on total employees in 2023 has been restated
94 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Competence Development
Employee Training
2024 2023 2022
Number Number Number of Number Number Number of Number Number Number of
of Classes of Days Participants of Classes of Days Participants of Classes of Days Participants
Managerial Leadership & Personal 467 51,303 12,430 420 30,907 11,371 342 15,337 10,625
Development
Credit Management 82 40,105 2,020 190 12,202 4,140 169 19,831 4,164
Risk Management Certification 134 15,758 13,523 47 665 476 31 431 382
Program
Sales 187 7,683 5,187 288 11,061 7,142 156 11,118 5,628
Service 49 4,317 2,306 32 6,951 1,584 25 3,049 2,123
Operations & Information 866 122,368 18,610 856 80,993 18,503 871 141,545 19,623
Technology
Other 921 40,513 32,179 729 107,730 27,266 528 70,343 22,614
Total 2,706 282,047 86,255 2,562 250,509 70,482 2,122 261,654 65,159
Employee Training Expenses (in million Rupiah)
2024 2023 2022
Total Employee Training Expenses 353,627 372,815 263,243
More detailed information regarding competence development can be seen in this Annual Report under the Human Resources chapter on page 246-248.
Training and/or Education for the Board
of Commissioners, Board of Directors,
Committees, Corporate Secretary, and
Internal Audit Unit
Information on training and/or education for the Board of Commissioners, Board of Directors, Committees, Corporate
Secretary, and Internal Audit Unit can be found in the Annual Report under the Company Profile on pages 62-91 and
Corporate Governance sections on pages 321-322, 337-341, 372-393, and 419-420.
Changes in the Composition of the
Board of Commissioners and Directors
In 2024, there were no changes in the composition of the Board of Commissioners and Directors. Changes to the
composition of the Board of Commissioners and Directors, can be found in the Annual Report sections on the Board of
Commissioners on pages 314-327 and Directors on pages 328-345 .
Statement of Independence of
Independent Commissioners
Details on the appointment and statement of independence of Independent Commissioners can be found in the Annual
Report under the Independent Commissioners section on page 326.
2024 Annual Report PT Bank Central Asia Tbk 95
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Shareholder Composition
BCA Ultimate Shareholder
In the period January 1, 2024 - December 31, 2024 there was no change in BCA’s controlling shareholder.
Robert Budi Hartono Bambang Hartono
(Ultimate Shareholder) (Ultimate Shareholder)
51.00% 49.00%
PT Dwimuria Investama Public
Andalan
54.94% 45,06% *
Note:
Controlling
Controlling Line
* In the portion of shares owned by public shareholders as of 31 December
2024, some 2.46% are held by parties affiliated to PT Dwimuria Investama
Andalan. In addition, Commissioners and Directors own 0.14% of BCA shares
Details of 20 Largest Shareholders
As of 1 January 2024 As of 31 December 2024
No. Name Number of Shares % No. Name Number of Shares %
1 PT DWIMURIA INVESTAMA ANDALAN 67,729,950,000 54.94 1 PT DWIMURIA INVESTAMA ANDALAN 67,729,950,000 54.94
2 CITIBANK SINGAPORE S/A GOVERNMENT OF 1,772,181,025 1.44 2 CITIBANK SINGAPORE S/A GOVERNMENT OF 1,804,761,329 1.46
SINGAPORE SINGAPORE
3 PT TRICIPTA MANDHALA GUMILANG 1,313,250,000 1.07 3 PT TRICIPTA MANDHALA GUMILANG 1,313,250,000 1.07
4 PT CATURGUWIRATNA SUMAPALA 1,261,750,000 1.02 4 PT CATURGUWIRATNA SUMAPALA 1,261,750,000 1.02
5 ANTHONI SALIM 855,239,635 0.69 5 BBH BOSTON S/A GQG PARTNERS EMERGING MARKETS 873,752,230 0.71
EQUITY FUND
6 JPMCB NA RE-VANGUARD TOTAL INTERNATIONAL 753,898,097 0.61
STOCK INDEX FUND 6 ANTHONI SALIM 855,239,635 0.69
7 JPMCB NA RE - VANGUARD EMERGING MARKETS 749,080,650 0.61 7 JPMCB NA RE-VANGUARD TOTAL INTERNATIONAL 777,666,397 0.63
STOCK INDEX FUND STOCK INDEX FUND
8 BNYM RE BNYMLB RE EMPLOYEES PROVIDENTFD 729,665,300 0.59 8 BNYM RE BNYMLB RE EMPLOYEES PROVIDENTFD 724,578,700 0.59
BOARD-2039927326 BOARD-2039927326
9 JPMCB NA RE-EUROPACIFIC GROWTH FUND 630,484,100 0.51 9 JPMCB NA RE-NEW WORLD FUND,INC 715,787,000 0.58
10 JPMCB NA RE-NEW WORLD FUND,INC 628,557,549 0.51 10 JPMCB NA RE - VANGUARD EMERGING MARKETS 708,575,550 0.57
STOCK INDEX FUND
11 BBH BOSTON S/A GQG PARTNERS EMERGING MARKETS 623,756,130 0.51
EQUITY FUND 11 CITIBANK NEW YORK S/A GOVERNMENT OF NORWAY - 1 697,688,164 0.57
12 STATE STREET BANK-GOLDMAN SACHS TRUST II- 608,808,898 0.49 12 SSB 58Z6 GOLDMAN SACHS TST II-GOLD SA GQG PRTN 608,808,898 0.49
GOLDMAN SACHS GQG PARTNERS INTERNATIONAL IOF-2183964139
OPPORTUNITIES FUND
13 JPMCB NA RE-WELLCOME TRUST 521,550,100 0.42
13 CITIBANK NEW YORK S/A GOVERNMENT OF NORWAY - 1 596,146,700 0.48
14 JPMCB NA RE-WELLCOME TRUST 580,770,100 0.47 14 JPMCB NA RE-EUROPACIFIC GROWTH FUND 516,745,500 0.42
15 JPMSE LUX RE UCITS CLT RE-JPMORGAN FUNDS 580,632,300 0.47
15 SSB 2Q27 ISHARES CORE MSCI EMERGING MARKETS ETF 487,008,200 0.40
16 STATE STREET BANK-ISHARES CORE MSCI EMERGING 502,209,200 0.41
-2183966403
MARKETS ETF
16 BNYMSANV RE BNYM RE PEOPLE'S BANK OF CHINA 476,417,900 0.39
17 BNYMSANV RE BNYM RE PEOPLE'S BANK OF CHINA 471,828,200 0.38
17 PT LINGKARMULIA INDAH 450,000,000 0.37
18 PT LINGKARMULIA INDAH 450,000,000 0.37
18 JPMSE LUX RE UCITS CLT RE-JPMORGAN FUNDS 443,898,900 0.36
19 STATE STREET BANK-INVESCO DEVELOPING MARKETS 387,065,800 0.31
FUND 19 SSB KGZ3 INVESCO DEVELOPING MARKETS FUND 423,372,600 0.34
-2183965924
20 JPMCB NA RE-VANGUARD FIDUCIARY TRUST COMPANY 360,015,242 0.29
INSTITUTIONAL TOTAL INTERNATIONAL STOCK MARKET 20 CITIBANK SINGAPORE S/A MONETARY AUTHORITY OF 411,177,306 0.33
IT II SPORE
Total 81,585,288,926 66.18 Total 81,801,978,409 66.36
Source: Indonesian Central Securities Depository (KSEI)
Note:
Several of the institutions listed act as custodians for shareholders
96 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Details of Shareholders with More than 5% Share Ownership
From 1 January 2024 to 31 December 2024, there were no shareholders owning more than 5% of shares, except for
PT Dwimuria Investama Andalan, the Controlling Shareholder of BCA.
Public Shareholders with Less than 5% Share Ownership
As of 1 January 2024 As of 31 December 2024
Composition* Composition*
Individual Individual
Local 3.86% Local 4.12%
Foreign 0.003% Foreign 0.004%
Institution Institution
Local 5.35% Local 4.86%
Foreign 35.86% Foreign 36.08%
Total 45.06% Total 45.06%
As of 1 January 2024 As of 31 December 2024
Composition* Composition*
Local Shareholders 9.20% Local Shareholders 8.98%
Individual 3.86% Individual 4.12%
Limited Liability Company 2.59% Limited Liability Company 2.61%
Insurance 1.27% Insurance 1.08%
Mutual Funds 0.94% Mutual Funds 0.72%
Foundation 0.55% Foundation 0.45%
Cooperative 0.002% Cooperative 0.002%
Foreign Shareholders 35.86% Foreign Shareholders 36.08%
Individual 0.003% Individual 0.004%
Foreign Legal Entity 35.86% Foreign Legal Entity 36.08%
Total 45.06% Total 45.06%
*
Calculated based on total number of BCA share outstanding amounting to 123,275,050,000 shares
Source: KSEI and PT Raya Saham Registra
2024 Annual Report PT Bank Central Asia Tbk 97
Page 100
Financial Highlights Management Report Corporate Profile Management Discussion and Analysis Shareholder Composition - continued Share Ownership Percentage of Commissioners and Directors As of 31 December 2024, the Board of Commissioners and Directors cumulatively owned 0.14% of BCA shares. Detailed ownership information for each member can be found in the Annual Report on pages 636-637. Temporary Suspension of Trading and/or Delisting of Shares In 2023 and 2024, BCA was not subject to temporary share trading suspensions or share delistings. If such incidents occurred, the reasons would be explained. Corporate Actions , Material Information and Information on Affiliated Transactions and Conflict of Interest Transactions Throughout 2024, BCA did not engage in capital injections, stock splits, reverse stock splits, share dividends, bonus shares, or changes in nominal share values. Additionally, no new bonds/sukuk were issued. Other corporate actions disclosure are detailed on pages 490-491. Throughout 2024, BCA did not conduct divestitures, mergers/consolidations of primary entities, acquisitions, debt/ capital restructurings, or material transactions. Information on affiliate transactions and conflicts of interest in 2024 can be found on page 457-465. 98 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements Membership In Associations The list of industry association memberships among others: No. Associations 1 Perhimpunan Bank Nasional (Perbanas) 2 Asosiasi Bank Kustodian Indonesia (ABKI) 3 Asosiasi Pengelola Reksa Dana Indonesia (APRDI) 4 ACI Financial Market Association (ACI FMA) 5 Asosiasi Sistem Pembayaran Indonesia (ASPI) 6 Forum Komunikasi Direktur Kepatuhan Perbankan (FKDKP) 7 Perhimpunan Pedagang Surat Utang Negara (HIMDASUN) 8 Indonesia Contact Center Association (ICCA) 9 The Institute of Internal Auditors (IIA) 10 Indonesia Chapter Ikatan Komite Audit Indonesia (IKAI) 11 Securities Investor Protection Fund (SIPF) 12 Asia Pacific Loan Market Association (APLMA) 13 European ATM Security Team (EAST) 14 International Monetary Conference (IMC) 15 Certified Information System Audition - Information Systems Audit & Control Association (CISA) 16 Association of Certified Fraud Examiners (ACFE) 17 Konsorsium Data Kerugian Eksternal (KDKE) 18 Inisiatif Keuangan Berkelanjutan Indonesia (IKBI) 19 Asosiasi Emiten Indonesia (AEI) 20 Indonesian Corporate Secretary Association (ICSA) 2024 Annual Report PT Bank Central Asia Tbk 99
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Record of BCA Share and
Other Securities Listing
PT Bank Central Asia Tbk (BCA) held Initial Public Offering (IPO) on 11 May 2000. The IPO was listed on the Jakarta Stock Exchange and
the Surabaya Stock Exchange on 31 May 2000 (Currently both exchanges were merged into the Indonesia Stock Exchange).
Record of BCA Share Listing at the Indonesia Stock Exchange
Number of
Date Description %
Outstanding Shares
11 May 2000 Initial Public Offering (IPO) 2,943,986,000 2,943,986,000 500
Stock split I with ratio of 1:2,
15 May 2001 x2 5,887,972,000 250
Price After Stock Split to Rp860
Shares issued in accordance with the
2001 58,025,000 5,945,997,000 250
Management Stock Option Plan (MSOP)
Shares issued in accordance with the
2002 71,526,000 6,017,523,000 250
Management Stock Option Plan (MSOP)
Shares issued in accordance with the
2003 113,611,500 6,131,134,500 250
Management Stock Option Plan (MSOP)
Stock split II with ratio of 1:2,
8 June 2004 x2 12,262,269,000 125
Price After Stock Split to Rp1,750
Shares issued in accordance with the
2004 40,944,500 12,303,213,500 125
Management Stock Option Plan (MSOP)
Shares issued in accordance with the
2005 15,888,000 12,319,101,500 125
Management Stock Option Plan (MSOP)
Shares issued in accordance with the
2006 8,403,500 12,327,505,000 125
Management Stock Option Plan (MSOP)
Stock split III with ratio of 1:2,
31 January 2008 x2 24,655,010,000 62,5
Price After Stock Split to Rp3,525
Stock split IV with ratio 1:5,
15 October 2021 x5 123,275,050,000 12,5
Price After Stock Split to Rp7,320
Note:
The Extraordinary General Meeting of Shareholders on 12 April 2001 decided to increase the issued capital by issuing 147,199,300 shares through the Management
StockOption Plan (MSOP). The MSOP was executable from 10 November 2001 up to 9 November 2006. Shares issued in accordance with the MSOP program above were
taken into account for the effect of the stock split.
Record of Other Securities Listing
Since 2018, BCA has issued subordinated bonds, which detail can be seen in the Bonds Highlights on page 21.
100 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
BCA Group Structure and
Subsidiaries Ownership
100% 99.576% 99.99995% 75% 99.9997% 90% 90% 99.999997%
BCA Finance 0.424% PT BCA PT Central
0.00005% PT Bank BCA 25% PT Asuransi 0.0003% PT BCA PT Asuransi 0.000003% PT Bank
Limited Finance Syariah Umum BCA Capital
Sekuritas Jiwa BCA Digital BCA
100% 100% 100% 100% Ventura
90% 90% 100%
100%
Product and Services
PT BCA Finance
Auto Financing:
New Car, Used Car
BCA Finance Limited
Fire Cash, Tahapan, LC, Loan and Trade Financing, Remittance
Funding:
PT Bank BCA Syariah Tahapan iB, Tahapan Rencana iB, Current Account iB, Deposits iB, Simpanan Pelajar
(SimPel) iB, Tahapan Mabrur iB, Customer Fund Account (RDN)
Financing:
Checking account financing - shariah iB, Bank Guarantee, Umrah financing iB,
Working Capital BCA Syariah iB, Investment loan BCA Syariah iB, Mortgage iB,
Factoring BCA Syariah iB, Auto financing iB, Gold iB
Services:
Deposit services - Haji BCA Syariah, Money transfer (Retail dan RTGS), Kliring (Local
and Intercity Clearing), Inkaso, Safe Deposit Box (SDB), Payroll, Bank’s Referrence
PT Asuransi Umum BCA (BCA Insurance) Auto Insurance, Fire Insurance, Property All Risks Insurance, Earthquake Insurance,
Personal Accident Insurance, Travel Insurance, Freight Insurance, Terrorism and
Sabotage Insurance, Contractor All Risks Insurance, Heavy Equipment Insurance,
Machinery Breakdown Insurance, Personal Cyber Insurance, Total Loss Protection
Insurance, Electronic Equipment Insurance, Moveable Property All Risk Insurance,
General Liability Insurance, Money Insurance, Billboard Insurance, Employee
Dishonesty Insurance, Ship Frame Insurance, Personal Accident Microinsurance
PT Central Capital Ventura (CCV)
Investment and Collaboration Services
PT BCA Sekuritas
Securities Brokerage Dealer and Underwriter for Issuance of Securities
PT Asuransi Jiwa BCA (BCA Life) Health Insurance:
Hospital 100% Refundable Insurance, Bima Proteksi Kesehatanku, BCA Life
Perlindungan Kritis Optima, BCA Life Purna Medis Optima
Heritage:
BCA Life Heritage Protection, BCA Life Proteksi Jiwa Optima, BCA Credit Life
Protection
Accident Protection:
b-SAVE Accident Protection
PT Bank Digital BCA
Digital Banking Solutions
2024 Annual Report PT Bank Central Asia Tbk 101
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Information on Subsidiaries
As of 31 December 2024
Company Name Share Ownership Type of Business
PT BCA Finance PT Bank Central Asia Tbk : 99.59% Auto Financing & Multipurpose Financing
BCA Finance Limited : 0.41%
Total : 100%
BCA Finance Limited PT Bank Central Asia Tbk : 100% Remittance and Money Lending
PT Bank BCA Syariah PT Bank Central Asia Tbk : 99.99995% Sharia Banking
(BCA Syariah)
PT BCA Finance : 0.00005%
Total : 100%
PT Asuransi Umum BCA PT Bank Central Asia Tbk : 75% General Insurance
(BCA Insurance)
PT BCA Finance : 25%
Total : 100%
PT Central Capital Ventura PT Bank Central Asia Tbk : 99.9997% Venture Capital Company
(CCV)
PT BCA Finance : 0.0003%
Total : 100%
PT BCA Sekuritas PT Bank Central Asia Tbk : 90% Securities Brokerage Dealer and Underwriter for Issuance
of Securities
Chandra Adisusanto : 10%
Total : 100%
PT Asuransi Jiwa BCA PT Bank Central Asia Tbk : 90% Life Insurance
(BCA Life)
Chandra Adisusanto : 10%
Total : 100%
PT Bank Digital BCA PT Bank Central Asia Tbk : 99.999997% Banking
PT BCA Finance : 0.000003%
Total : 100%
102 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Total Assets Operational
Brief Profile Company Address
(in billion Rupiah) Status
PT BCA Finance was established in 1981 and then in 10,995 Wisma BCA Pondok Indah 8th Floor, Operating
2000 began to focus on the motor vehicle financing Jl. Metro Pondok Indah No. 10
business. Jakarta 12310
Tel. : (021) 29973100
BCA Finance Limited was established in 1975 and 414 Unit 4707, 47/F, The Center, Operating
operates in the field of money transfer services and 99 Queen's Road Central,
has a business license as a money lender. BCA has Hong Kong
ownership (direct and indirect) of 100% in 1996. Tel. : (852) 28474388
PT Bank BCA Syariah (formerly known as PT Bank 16,641 Jl. Jatinegara Timur No. 72 Operating
UIB) was established in 1991 and is engaged in Islamic Jakarta 13310
Banking. Since December 10, 2020, PT Bank Interim Tel. : (021) 8505030, 8505035,
Indonesia has effectively merged with PT Bank BCA 8190072
Syariah. BCA has ownership (direct and indirect) of
100% in 2009.
PT Asuransi Umum BCA (formerly known as 3,355 Sahid Sudirman Center Building Operating
PT Central Sejahtera Insurance) was established in 1988 10th Floor Unit F
and operates in the insurance industry, especially in Jl. Jend. Sudirman Kav. 86
general insurance or loss insurance. BCA through PT Jakarta 10220
BCA Finance became a 25% shareholder in 2010, and Tel. : (021) 27889588
BCA increased its direct and indirect ownership to
100% in 2013.
PT Central Capital Ventura, established since 2017 497 Office 8 Building, 16th Floor Unit F Operating
and engaged in venture capital companies. BCA has SCBD Lot 28
ownership (direct and indirect) of 100%. Jl. Jend. Sudirman Kav 52-53
Jakarta 12190
PT BCA Sekuritas (formerly known as PT Dinamika 1,432 Menara BCA, Grand Indonesia Operating
Usaha Jaya) was established in 1990 and operates 41st Floor, Suite 4101
in the field of securities trading intermediaries and Jl. M.H. Thamrin No.1
securities underwriting. BCA became the majority Jakarta 10310
shareholder in 2011. Tel. : (021) 23587222
PT Asuransi Jiwa BCA, established in 2013, 3,340 Chaze Plaza, 22nd Floor Operating
operates in the life insurance sector and began Jl. Jend. Sudirman Kav. 21
operational activities in 2014. In 2017, BCA became Jakarta 12920
a direct shareholder in PT Asuransi Jiwa BCA with Tel. : (021) 21888000
90% ownership, which was previously an indirect
shareholder through PT BCA Sekuritas and PT Asuransi
Umum BCA.
PT Bank Digital BCA (formerly PT Bank Royal Indonesia) 16,054 The City Tower, 11th Floor Operating
operates in the banking sector with the status of Bank Jl. M.H. Thamrin No. 81
KMBI I. BCA has ownership (direct and indirect) of 100% Jakarta 10310
in 2019. Tel. : (021) 50848010
2024 Annual Report PT Bank Central Asia Tbk 103
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Capital Market Supporting Institution
As of 31 December 2024
Public Accounting Firm
KAP Rintis, Jumadi, Rianto & Rekan
(a member firm of the PwC global network)
WTC 3
Jl. Jend. Sudirman Kav. 29-31
Jakarta 12920, Indonesia
Tel. (+62-21) 5099 2901, 3119 2901
Trustee
Fax. (+62-21) 5290 5555, 5290 5050
Website: www.pwc.com/id BCA Continuous Subordinated Bonds I
Phase I 2018
(A & B Series)
Share Registrar PT Bank Rakyat Indonesia (Persero) Tbk
Investment Services Division
PT Raya Saham Registra
Jl. Jend. Sudirman Kav. 44-46
Gedung Plaza Sentral, 2nd Floor
Jakarta 10210, Indonesia
Jl. Jend. Sudirman Kav. 47-48
Tel. (+62-21) 251 0244, 251 0254, 251 0264,
Jakarta 12930, Indonesia
251 0269, 251 0279
Tel. (+62-21) 252 5666
Fax. (+62-21) 250 0065, 250 0077
Fax. (+62-21) 252 5028
Website: www.registra.co.id
Notaris
Notary
Securities Rating Agency
Christina Dwi Utami, S.H., M.Hum, M.Kn
Fitch Ratings Ltd Jl. K.H. Zainul Arifin No.2
30 North Colonnade, Canary Wharf, Kompleks Ketapang Indah Blok B2 No. 4-5
London E14 5GN Jakarta Barat 11140, Indonesia
Tel. (+44-20) 3530 1000 Tel. (+62-21) 630 1511
Fax. (+44-20) 3530 1000 Fax. (+62-21) 633 7851
Website: www.fitchratings.com
PT Fitch Ratings Indonesia
Law Firm Consultant
DBS Bank Tower, 24th Floor, Suite 2403
Jl. Prof. Dr. Satrio Kav. 3-5 Hadiputranto, Hadinoto & Partners
Jakarta 12940, Indonesia Pacific Century Place, Level 35
Tel. (+62-21) 2988 6800, (62-21) 4000 0180 Sudirman Central Business District Lot 10
Fax. (+62-21) 2988 6822 Jl. Jend. Sudirman Kav. 52-53
Website: www.fitchratings.com Jakarta 12190, Indonesia
Tel. (+62-21) 2960 8888
PT Pemeringkat Efek Indonesia (PEFINDO) Fax. (+62-21) 2960 8999
Equity Tower, 30th Floor
Sudirman Central Business District Lot 9
Jl. Jend. Sudirman Kav. 52-53
Jakarta 12190, Indonesia
Tel. (+62-21) 5096 8469
Fax. (+62-21) 5096 8468
Website: www.pefindo.com
104 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Awards and Certifications
Category: Corporate
Name of Award Organizer Category/Rank
Global Excellence in Retail Finance Awards The Asian Banker Most Recommended Retail Bank in Asia Pacific, Best Retail
2024 Bank in Indonesia, Most Recommended Retail Bank in
Indonesia
World's Strongest Banking Brand 2024 Brand Finance AAA+ (93,8 / 100)
Forbes World's Best Bank 2024 Forbes #1 World's Best Bank in Indonesia
Gallup Global Customer Engagement 2023 Gallup International Customer Engagement Recognition - Customer
Engagement achieved Customer Engagement Score
threshold above the global average or 90th percentile.
World's Most Trustworthy Companies 2024 Newsweek No. 1 World's Most Trustworthy Companies 2024 in Banking
Sector
Bank Indonesia Award 2024 Bank Indonesia Best Rupiah Monetary Control Supporting Conventional
Bank, Best Green Finance Supporting Bank (KBMI III and
KBMI IV), Bank with Best Financial Reporting Compliance.
FinanceAsia Asia’s Best Companies 2024 Finance Asia Indonesia Best Large Cap Company (Gold), Indonesia Best
Managed Company (Bronze)
FinanceAsia Award 2024 Finance Asia Indonesia Best Bank Domestic (Highly Commended)
Top 30 Most Valuable Southeast Asian Brands Kantar BrandZ #1 The Most Valuable Southeast Asian Brand in Indonesia,
2024 Most Meaningfully Different Brand in Indonesia
Penganugerahan Wajib Pajak Tahun 2024 Kantor Wilayah Taxpayer 2024
Direktorat Jenderal
Pajak Wajib Pajak Besar
(Kanwil LTO)
2024 Annual Report PT Bank Central Asia Tbk 105
Page 108
Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Category: Corporate
Name of Award Organizer Category/Rank
ABF Retail Banking Awards 2024 Asian Banking Finance Fraud Initiative of the Year - Indonesia
2024 Asia Executive Team Institutional Investor #1 Best IR Program (Sell – side) in Asia ex-Mainland China
dan #3 Best IR Program (Sell – side) in Core Asia, #1 Best IR
Profesional (Sell – side) in Core Asia dan Asia ex-Mainland
China, #1 Company Board (Sell – side) in Asia ex-Mainland
China dan #2 Company Board (Sell – side) in Core Asia
Private Banking Awards 2024 Euromoney Best For Next Gen in Indonesia, Best For High Net Worth in
Indonesia
Citra Pariwara Advertising Festival 2024 Persatuan Perusahaan Audio - Financial and Investment Services - BCA The
Periklanan Indonesia Birthday Kid's Request (Silver), BCA The Lover's Request
(Silver), Audio - Audio Campaign - BCA Credit Card - The
Big Request (Silver), Film - Financial & Investment Services -
Don't Know? Kasih No! (Bronze), Beli Rumah #TenangDuluan
(Bronze), Digital Content - Best use of influencer - myBCA
#NyamannyaDuniamyBCA (Bronze), Cinematography -
Bakti BCA Kisah Jejak #BuktiBaktiBCA (Bronze) dan Don't
Know? Kasih No! (Bronze)
14th Asian Excellence Award 2024 Corporate Governance Best Investor Relations Company
Asia
18th Annual Alpha Southeast Asia Best FI Alpha Southeast Asia Best Bank in Indonesia
Awards 2024
Global Business & Finance Magazine Awards Global Business & Best PR Campaign: Integrated Communications Indonesia
2024 Finance Magazine 2024
Awards 2024
Marketing Excellence Awards Indonesia 2024 Marketing Interactive Excellence in CSR / Cause Marketing - Gold (Bakti BCA
- Kisah Jejak #BuktiBakti BCA), Best Marketer of The
Year - Winner (BCA), Excellence in B2B Marketing - Silver
(Merchant App #BukaJalan), Excellence in Brand Awareness
- Gold (Ramadan #KemuDianRingan) dan Bronze (Don't
Know? Kasih No!), Excellence in Brand Strategy - Gold
(Paylater BCA (with Ambilhati)) dan Silver (Ramadan
#KemuDianRingan), Excellence in Communication/PR -
SiIver (Don't Know? Kasih No!), Excellence in Data Driven
Marketing - Gold (Advanced Predictive Analytics Solutions
for BCA EXPO Campaign (with Merkle)), Excellence in Viral
Marketing - Gold (Ramadan #TibaTibaTenang), Excellence
in TV/Video Advertising - Gold (Don't Know? Kasih No!),
SIlver (#NyamannyaDunia myBCA (with Ambilhati))
dan Bronze (Ramadan #TibaTibaTenang), Excellence
in Omnichannel - Silver (myBCA #RahasiaRaisa (with
Ambilhati)), Excellence in Multilingual Marketing - Silver
(Don't Know? Kasih No!), Excellence in Integrated Marketing
- Gold (HUT 67 #BikinTambahMeriah), Excellence in Media
Strategy - Gold (myBCA #RahasiaRaisa (with Ambilhati)),
Excellence in Event Marketing - Gold (Expoversary (with
Ambilhati))
YouTube Works SEA YouTube Force for Good (Winner - Don't Know? Kasih No!)
YouTube Works ID YouTube Force for Good (Winner - Don't Know? Kasih No!), Best
Brand Story (Winner - Don't Know? Kasih No!), The Big Bang
(Winner - Don't Know? Kasih No!), Best of Indonesia (Winner
- Don't Know? Kasih No!), dan Master of Media (1st Runner
Up - Don't Know? Kasih No!)
Qorus-Infosys Finacle Banking Innovation Qorus-Infosys Finacle Future Workforce (Bronze)
Awards 2024 Robotic Precision for APOS Production Efficiency and a
Better Workplace
Bisnis Indonesia Financial Award 2024 Bisnis Indonesia Most Efficient Bank KBMI IV
Bisnis Indonesia Award 2024 Bisnis Indonesia National Private Bank KBMI IV
Cybersecurity Symposiums (CSS) Indonesia Asia Symposium Best Financial Data Protection
2024
PR Excellence Awards 2024 (PREA) PERHUMAS Internal PR General Theme, Corporate PR
Malam Apresiasi Indeks Integritas Bisnis Lestari Tempo Media Group Diamond Category
PR Indonesia Award (PRIA) 2023 PR Indonesia 20 Institutions/Corporations in Print and Online Media PR
INDONESIA AWARDS (PRIA) 2024 version
Fortune Indonesia 100 Indonesia's Biggest Fortune Indonesia BCA (as 100 Indonesia's Biggest Companies 2024), The
Companies 2024 Highest Net Profit Margin
106 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Category: Corporate
Name of Award Organizer Category/Rank
MMA Smarties MMA Global Indonesia Short or Long Form Video (Gold - Don't Know? Kasih No!),
Celebrity Marketing (Gold - Don't Know? Kasih No!), Brand
Purpose (Gold - Don't Know? Kasih No!), Social Impact
Marketing (Gold - Don't Know? Kasih No!), Service Launch
(Gold - Merchant App #BukaJalan), Celebrity Marketing
(Bronze - Merchant App #BukaJalan), Instant Impact or
Promotion (Bronze - Ramadan #KemuDianRingan) dan O2O
/ New Retail / Innovative & New Tech Sales Channels (Silver
- Expoversary #SekarangWaktunya)
International Convention on Quality Control Sri Lanka Association for Gold - Payment Status Request (PSR)
Circles (ICQCC) 2024 Advancement of Quality Gold - Auto-Reverse
& Productivity (SLAAQP) Gold - One Stop Reconciliation App (OSRA)
Gold - Robotic Process Automation (RPA)
Media Relation Awards 2024 Serikat Perusahaan Pers Best Media Relations Award Category (BCA Expoversary
2023), Best Press Conference Category (Launch of
#BuktiBaktiBCA Campaign)
The 15th Serikat Perusahaan Pers Awards 2024 Serikat Perusahaan Pers Internal Corporate Digital Magazine - InfoBCA
Media Relation Awards 2024 Serikat Perusahaan Pers Best Press Conference (Launch of #BuktiBaktiBCA
Campaign)
CSA Awards 2024 Asosiasi Analis Efek The Best Financial Sector on the Main Board, Best of the
Indonesia Best
IABC Awards 2024 IABC Indonesia Awards of Excellence (Category: Impactful Public Relations
Awards (IMPRA), Sub-category: PR Kreatif Terbaik), Awards
of Merit (Category: Impactful Public Relations Awards
(IMPRA), Sub-category: Program Hubungan Media Terbaik)
7th Infobank Satisfaction, Loyalty, and Infobank Magazine The Best KBMI IV Bank in Satisfaction, Loyalty, &
Engagement (SLE) 2024 Engagement 2024, The Best KBMI IV Bank in Marketing
Engagement, The Best KBMI IV Bank in Customer
Satisfaction, The Best KBMI IV Bank in Brand Interactivity,
The 2nd Best KBMI IV Bank in Customer Loyalty
13th Infobank Digital Brand Recognition 2024 Infobank Magazine The 2nd Best Conventional Commercial Bank 2024 - KBMI IV,
The 2nd Best Overall Conventional Commercial Bank 2024
29th INFOBANK BANKING APPRECIATION 2024 Infobank Magazine The Bank With Excellent Performance In 20 Consecutive
Year (Diamond Thropy)
WOW Brand 2024 MarkPlus, Inc Conventional Bank
Marketeers Digital Marketing Heroes 2024 Marketeers Content Marketing of the Year (Winner - #AwasModus)
Marketeers Editor’s Choice Awards 2024 Marketeers Content Marketing of the Year (Winner - #AwasModus)
20 Top Companies to Watch in 2024 Bloomberg Technoz 20 Top Companies to Watch in 2024
Malam Apresiasi Emiten 2024 Tempo-IDNFinancials 52 Main Index, High Devidend, High Growth, High Market Cap
Indonesia Best Bank 2024 Warta Ekonomi Indonesia Best Bank 2024 for Strengthening Hybrid Banking
Ecosystem to Maintain Credit Portfolio Performance
(Category : KBMI IV, Private)
Indonesia Most Acclaimed Company 2024 Warta Ekonomi Indonesia Most Acclaimed Company 2024 with
Outstanding Financial Performance Through Credit
Distribution Growth
Category : Conventional Bank, KBMI 4
Indonesia Top Leader Finance 2024 Warta Ekonomi Best Leader for Maintaining Solid Performance through
Expansive Credit Disbursement (Category : KBMI IV -
Private)
Indonesia Living Legend Awards 2024 Warta Ekonomi Platinum Living Legend Company in Strengthening
Business Ecosystem Through Development of Solid and
Sophisticated Banking System
Indonesia Best Digital Financing Awards 2024 Warta Ekonomi Best Digital Finance 2024 for Digital Capability
Developmennt to Maintain Prudent Credit Disbursement
(Category : KBMI IV, Conventional Bank)
7 Most Popular Brand Of The Year 2024 Jawa Pos Commercial Banking
5th Indonesia Public Relations Award 2024 The Iconomics 5th Corporate Reputation Awards 2024 (Category: Bank)
5th Indonesia Top Bank Awards 2024 The Iconomics Top Bank 2024 in KBMI IV Category
The Best Bank 2024 Investortrust.id Commercial Bank KBMI IV (Tier 1 Capital of More than
Rp70 Trillion)
The Best Investortrust Companies 2024 Investortrust.id The Best Six Inverstortrust Companies 2024
Digital Banking Award 2024 Investortrust.id Best Customer Dimension - KBMI IV Bank
2024 Annual Report PT Bank Central Asia Tbk 107
Page 110
Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Category: Corporate
Name of Award Organizer Category/Rank
AI Driven Bot Competition 2024 Indonesia AI Society 1st place for GestureCam Innovation for People with
(IAIS) dan PT Sari Disabilities
Teknologi Global
Indonesia PR of The Year 2024 Mix Marketing & PR Program of The Year 2024 (Judges Review) (Category:
Communication Internal PR Program, Programme: Special Uniforms Made
from Recycled Materials for Employees, Predicate: Good),
PR Program of The Year 2024 (Based on Engagement Index)
(Category: Internal PR Program, Program: Special Recycled
Uniforms for Employees), PR Practitioners of The Year 2024
(Journalist Choice) (Corcomm Team, Category: Financial
Services)
Marcom Corcom Dream Team 2024 Mix Marketing & Corcomm Dream Team (Journalist Choice) (Category:
Communication Banking, Predicate: Excellent)
IWEB Award 2024 Ikatan Wartawan Best Corporate Social Responsibility (CSR) Category, Best
Ekonomi Bisnis (IWEB) Good Corporate Governance (GCG) Category
Category: Sustainability
Name of Award Organizer Category/rank
The 15 IICD Corporate Governance Conference
th
IICD (Indonesian Top 50 Big Capitalization Public Listed Company, Best Overall
and Award Institute for Corporate Big Cap
Directorship)
Annual Report Award (ARA) 2023 Komite Nasional Overall Champion
Kebijakan Governansi
(KNKG)
FinanceAsia Asia’s Best Companies 2024 Finance Asia Most Committed to ESG (Silver)
Green Mark Super Low Energy Building Building and Wisma Foresta BSD - Certificate Green Mark Super Low
Construction Authority Energy Building (#1 in Indonesia)
Singapura
Satu Rekening Satu Pelajar (KEJAR) Award Otoritas Jasa Keuangan Best implementation in the Conventional Commercial Bank
(OJK) group
14th Asian Excellence Award 2024 Corporate Governance Asia's Best CSR (Bakti BCA)
Asia
2024 Asia Executive Team Institutional Investor #1 Best ESG (Sell – side dan Combined) in Asia ex-Mainland
China dan #2 Best ESG (Sell – side) in Core Asia
2024 Stevie International Business Awards Stevie Awards Sustainability Initiative of the Year - in Asia, Australia, and
New Zealand (Bronze) - BCA's Sustainable Office Building
Detik Awards 2024 Detik.com Bakti BCA, Excellent and Impactful Bank Sustainability
Action
Fortune Indonesia Change the World Fortune Indonesia BCA Sustainability: Processing Banking Waste
Hari Donor Darah Sedunia PMI Jakarta Institutions that actively conduct blood donation for the
period 2023-2024
Indonesia Excellence Good Corporate Warta Ekonomi Indonesia Excellence Good Corporate Governance Awards
Governance Awards 2024 2024
Indonesia Most Visionary Companies Awards Warta Ekonomi Indonesia Most Visionary Company with Capability
2024 Development to Encourage Sustainable Growth - Category
: Banking
UMKM Summit 2024 Obsession Media Group MSMEs as the driving force of the national economy -
PT Bank Central Asia Tbk, MSMEs as the driving force of the
national economy - Doesoen Kopi Sirap (Bakti BCA)
CSR Award 2024 Investortrust.id Next generation Empowerment Award: Business & Banking
Education Programme (PPBP)
ESG Award 2024 Investortrust.id Platinum Star Awards (Big Cap)
Nusantara TV Sustainability Communications Nusantara TV The Excellent Sustainable Communication Company in
Award Financial Sector
Nusantara Award 2024 Media Nawacita Nusantara Cultural Arts & Performances
Indonesia
GRC & Performance Excellence Award 2024 Business News The Greatest Champions of GRC Excellence Performance
Indonesia 2024 (Banking Industries), The Best GRC for Board of GRC
Leader
108 PT Bank Central Asia Tbk 2024 Annual Report
Page 111
Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Category: Human Capital
Name of Award Organizer Category/rank
HR Asia Award 2024 HR Asia HR Asia Best Companies to Work for in Asia, HR Asia Most
Caring Companies Award
Brandon Hall Group Excellence Awards - HCM Brandon Hall Group Best Benefits, Wellness and Well-Being Program (Bronze) -
Program 2024 BCA's Ring the Bell & Beautiful Life Programs, Best Results
of a Learning Program (Bronze) - BCA's Digital Factory
Program (DFP)
2024 Stevie Awards for Great Employers Stevie Awards Best Leadership Development Program (Silver) - BCA's
Leadership Acceleration Program (LAP)
Asia Pacific Stevie Awards 2024 Stevie Awards Gold Winner - Award for Innovation in Internal Corporate
Events (BIA)
2024 Stevie Awards for Great Employers Stevie Awards Achievement in Leadership Development (Silver) - BCA's
Leadership Acceleration Program (LAP)
Marketeers Youth Choice Award 2024 Marketeers PT Bank Central Asia Tbk (BCA) - Dream Workplace
Category (Silver)
HR Excellence Awards 2024 humanresourceonline. GOLD - Excellence in Leadership Development
net
HR Excellence Award 2024 SWA Media Group Learning & Development (L&D) dan Knowledge
Management, Reward Management & Talent Retention
Strategy, Employer Branding and Talent Acquisition
Indonesia Best Companies in Creating Leaders SWA Media Group Indonesia Best Companies in Creating Leaders From Within
from Within 2024 - Predikat: Excellent
Indonesia Human Capital Awards (IHCA) 2024 Economic Review Best Company In Human Capital 2024 Pinnacle Award -
Best Of The Best Company 2024 (Overall Champion), Best
Company In Transformation In Strategic Human Capital
2024, Best Company In Green HR 2024, Best Company In
Digital/Technology 2024
Category: Products & Services
Name of Award Organizer Category/rank
Primary Dealer and Best Distribution Partner Ministry of Finance Best SUN (Government Bonds) Primary Dealer I in 2024,
for Government Securities Republic of Indonesia Best SUN Primary Dealer in 2024 in Secondary Market, Best
SBSN Primary Dealer I in 2024, Best SBSN Main Dealer in
Primary Market in 2024, Best SBSN Primary Dealer in 2024
for Quotation Implementation, Best SUN Distribution Partner
in 2024
17th Annual Private Wealth Awards 2024 Alpha Southeast Asia Best Wealth Management Bank in Indonesia
Top Ranking Performance ContactCenterWorld. 45 Gold and 3 Silver: DREAM Team Award, 24 Corporate
com category awards, 16 Individual awards, 8 Team awards
Top Ranking Performance Award - Asia Pacific ContactCenterWorld. 8 Certified World Class (Best Contact Center, Best Contact
Region com Center Design, Best CX Branch/Retail Service, Best
Employee Engagement, Best Employee Wellness Program,
Best Help Desk, Best Improvement Award, Best Customer
Service), 42 Gold, 2 Silver dan Best TopPlace2Work: PT Bank
Central Asia Tbk
2024 Stevie International Business Awards Stevie Awards Marketing Campaign of the Year - Financial Products &
Services (Gold) - #SuddenlyPeaceful - BCA's Ramadan
Campaign, Brand & Experiences - Exhibition Experience
(Gold) (BCA's UMKM Fest - Festival for MSMEs)
The Best Contact Center Indonesia (TBCCI) ICCA (Indonesia 20 Platinum (14 Individual and 6 Corporate), 21 Gold
2024 Contact Center (19 Individual, 1 Teamwork and 1 Corporate), 13 Silver
Association) (11 Individual and 2 Teamwork), 12 Bronze (10 Individual and
2 Teamwork)
2024 Annual Report PT Bank Central Asia Tbk 109
Page 112
Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Category: Products & Services
Name of Award Organizer Category/rank
National Quality & Productivity Convention PT Wahana Kendali Top 3 Diamond (special award for companies with the best
(NQPC) XXVIII 2024 Mutu dan Asosiasi innovations) - Integration and Automation of Customer
Manajemen Kualitas dan Fund Account Opening Process for the innovation REDANA
Produktivitas Indonesia (account opening service), Excellent Productivity -
CSV Cash Ecosystem Transformation for Sustainable
Development Goals, Excellent Innovation - CSV Cash
Ecosystem Transformation for SDGs, Excellent Hi-Tech
Application - CSV Cash Ecosystem Transformation
for SDGs, Best Presentation - CSV Cash Ecosystem
Transformation for SDGs, Diamond - Reducing BI-FAST
Transaction Failures, Accelerating Reconciliation Processes
and Complaint Handling through the innovations PSR,
Auto-Reverse, OSRA, and RPA, Platinum - Optimizing ATM
Asset Management through the innovation OASE System
(One ATM Solution Ecosystem), Diamond - Integration and
Automation of Customer Fund Account Opening Process for
the innovation REDANA, Best Performance - Integration and
Automation of Customer Fund Account Opening Process
with REDANA innovation, Diamond - Proactive Strategy for
Resolving Abnormal Transactions through the innovation
Machine Learning & Transformation Process, Most Favorite
- Proactive Strategy for Resolving Abnormal Transactions
with Machine Learning and Process Transformation through
the innovation Machine Learning & Transformation Process,
Diamond - End-to-End EDC Process Transformation through
the innovation Integrated System Environment, Diamond
- Efficiency and Optimization of ATM Cash Replenishment
Services through the innovation InCash, Diamond -
Transformation of Instant Debit Card Provision through
the innovation Magnifico System, Platinum - Accelerating
Offline Bulk Transfer Transactions through the innovation
Robotic Smart OCR
Solo Best Brand and Innovation (SBBI) 2024 Solopos Private Bank Savings Category, Credit Card Category
7 Most Popular Brand Of The Year 2024 Jawa Pos Banking Digital App Category - BCA mobile, Banking
Savings Finance Category - Tahapan BCA
7th Infobank Satisfaction, Loyalty, and Infobank Magazine The Most Satisfying KBMI IV Bank in ATM Service, The Most
Engagement (SLE) 2024 Satisfying KBMI IV Bank in Mobile Banking
13th Infobank Digital Brand Recognition 2024 Infobank Magazine The Best Credit Card Bank Umum Konvensional 2024 - KBMI
IV, The Best Debit Card Bank Umum Konvensional 2024
- KBMI IV, The Best Deposito Bank Umum Konvensional
2024 - KBMI IV, The Best KPR Bank Umum Konvensional
2024 - KBMI IV, The Best KKB Bank Umum Konvensional
2024 - KBMI IV, The Best Wealth Management Bank Umum
Konvensional 2024 - KBMI IV, The Best Internet Banking
Umum Konvensional 2024 - KBMI IV, The 2nd Best E-Money
Bank 2024 - KBMI IV, The 2nd Best Overall Deposito Bank
Umum Konvensional 2024 Product Brand, The 2nd Best
Overall Deposito Bank Umum Konvensional 2024 Product
Brand; The Best Overall KPR Bank Umum Konvensional
2024 Product Brand, The Best Overall KKB Bank Umum
Konvensional 2024 Product Brand, The Best Overall Kartu
Debit Bank Umum Konvensional 2024 Product Brand, The
2nd Best Overall Kartu Kredit Bank Umum Konvensional
2024 Product Brand, The Best Overall Internet Banking Bank
Umum Konvensional 2024 Product Brand, The Best Overall
Wealth Management Bank Umum Konvensional 2024
Product Brand, The 2nd Best Overall E-Money Bank 2024
21st Infobank Banking Service Exellence 2024 Infobank Magazine The 2nd Best Conventional Bank in Service Excellence,
The Best Overall - Digital Channel, The 2nd Best Overall
- E-Banking, The Best - Branch ATM Bank, The Best -
Internet Banking, The Best - Opening Account via Mobile
Application/Mobile Browser, The Best - Digital Branch, The
Best- Cash Recycling Machine Bank, The 2nd Best - Email
Service
110 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Category: Products & Services
Name of Award Organizer Category/rank
7th Infobank Satisfaction, Loyalty, and Infobank Magazine The Best KBMI IV Bank in Customer Engagement, The Most
Engagement (SLE) 2024 Satisfiying KBMI IV Bank in Customer Service, The 2nd
Most Satisfying KBMI IV Bank in Teller Service, The 2nd
Most Satisfying KBMI IV Bank in Branch Office, Golden
Recognition - 5 Consecutive Years in Service Excellence,
Platinum Recognition - 10 Consecutive Years in e-Banking,
Golden Recognition - 5 Consecutive Years in Digital
Channel
Marketeers Youth Choice Award 2024 Marketeers Tahapan Xpresi BCA - Saving Account Category (Gold),
myBCA - Banking Mobile Apps Category (Gold), Flazz -
E-money Category (Silver)
Indonesia Excellence Good Corporate Warta Ekonomi Indonesia Excellence Good Corporate Governance Awards
Governance Awards 2024 2024
ICSQ Award 2024 SWA Media Group BCA mobile (Category: Mobile Banking Application,
Predicate: Excellent, Rank: 1 (Champion)), BCA (Category:
General Bank, Predicate: Excellent, Rank: 1 (Champion)),
BCA Credit Cards (Category: Credit Cards, Predicate:
Excellent, Rank: 1 (Champion)), BCA (Category: General
Bank Contact Center, Predicate: Excellent, Rank: 1
(Champion))
ICSC Award 2024 SWA Media Group Indonesia Customer Service Champion 2024 Award
(Predicate: EXCELLENT)
Opexcon Award 2024 - Next-Gen Operational SHIFT Indonesia Indonesia Customer Service Champion 2024 Award
Excellence : Empower People, Optimize (Predicate: EXCELLENT)
Processes, Embrace Technology
Indonesia Customer Experience Champions SWA Media Group Gold Achievement Service Category, Silver Achievement
2024 Service Category
Indonesia Property&Bank Award XVIII & Journalis Media Group The Best Service and Technology in Banking (PT Bank
Indonesia My-Home Award VII Central Asia Tbk)
Category: Individual
Name of Award Organizer Category/rank
FinanceAsia Asia’s Best Companies 2024 Finance Asia Indonesia Best CEO – Jahja Setiaatmadja (Silver)
2024 Asia Executive Team Institutional Investor #1 Best CEO (Sell – side) in Asia ex-Mainland China - Jahja
Setiaatmadja, #1 Best CFO (Sell – side) in Asia ex-Mainland
China - Vera Eve Lim
Asia Pacific Stevie Awards 2024 Stevie Awards Gold Winner Most Innovative HR Executive of the Year -
Lianawaty Suwono, Silver Winner Most Innovative Woman
of the Year - Lianawaty Suwono
14th Asian Excellence Award 2024 Corporate Governance Asia's Best CEO - Jahja Setiaatmadja, Asia's Best CFO -
Asia Vera Eve Lim
Top CEO Indonesia Awards 2024 Tempo-IDNFinancials 52 The Best CEO Enormous Support in National Stunting
Program - Jahja Setiaatmadja
Infobank TOP 100 and The 200 Future Leaders Infobank Magazine Special CEO: CEO in The Most Valuable Company 2024 -
Forum 2024 Jahja Setiaatmadja, Bankers of The Year - Santoso
Indonesia CEO Excellence Awards 2024 Warta Ekonomi Indonesia CEO Excellence 2024 for Creating Solid
Performance through Financing Expansion and Transaction
Volume Enhancement - Jahja Setiaatmadja
3rd Anniversary Indonesia Inspiring Women The Iconomics Indonesia Inspiring Women Awards 2024 - Vera Eve Lim
Awards 2024
5th Anniversary Indonesia Best 50 CEO Awards The Iconomics Indonesia Best 50 CEO 2024 in KBMI IV Category
2024“Employees’ Choice” “Employees’ Choice” 5th Anniversary - Jahja Setiaatmadja
Indonesia Top Banker Awards 2024 The Iconomics Djohan Emir Setijoso (as Top Banker)
Indonesia Property&Bank Award XVIII & Journalis Media Group Best CEO of The Year - Jahja Setiaatmadja
Indonesia My-Home Award VII
CEO Awards 2024 Nusantara TV Best Assessment in Financial Sector - Jahja Setiaatmadja
Indonesia Human Capital Awards (IHCA) 2024 Economic Review Best HC Director 2024 - HC Visionary Exemplar Star 2024 -
Lianawaty Suwono
GRC & Performance Excellence Award 2024 Business News The Best Chief Compliance Officer 2024 - Lianawaty
Indonesia Suwono
2024 Annual Report PT Bank Central Asia Tbk 111
Page 114
Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Branches
As of December 31, 2024
REGIONAL OFFICE I REGIONAL OFFICE III
Address: Number of Branches: Address: Number of Branches:
Jl. Asia Afrika 122-124, 4th Fl. 11 Main Branches Wisma BCA Bukit Darmo, 14 Main Branches
Bandung 40261 70 Branches Jl. Mayjend Jonosewojo No. 14 93 Branches
Tel. (022) 4236303 13 Branches Hub Surabaya 60225 28 Branches Hub
Tel. (031) 29711888
Locations:
Bandung Majalengka Kota Locations:
Banjar Ngamprah Bangkalan Pamekasan
Ciamis Purwakarta Bojonegoro Sampang
Cianjur Singaparna Gresik Sidoarjo
Cimahi Soreang Jombang Sumenep
Cirebon Subang Lamongan Surabaya
Garut Sukabumi Mojokerto Tuban
Indramayu Sumber
Karawang Sumedang REGIONAL OFFICE IV
Kuningan Tasikmalaya Address: Number of Branches:
Jl. Boulevard Blok F5 No.5 13 Main Branches
Makassar 90231 73 Branches
REGIONAL OFFICE II Tel. (0411) 453355 16 Branches Hub
Address: Number of Branches: Locations:
Jl. Pemuda 90-92, 4th Fl. 13 Main Branches
Semarang 50133 86 Branches Ambon Palopo
Tel. (024) 3510575 / 3510582 29 Branches Hub Bau Bau Palu
Locations: Bitung Pare Pare
Banjarnegara Purbalingga Denpasar Pinrang
Bantul Purwodadi Gianyar Praya
Batang Purwokerto Gorontalo Ruteng
Blora Purworejo Jayapura Selong
Boyolali Rembang Kendari Semarapura
Brebes Salatiga Kotamobagu Sentani
Cilacap Semarang Kupang Singaraja
Demak Slawi Labuan Bajo Sorong
Jepara Sleman Luwuk Sumbawa Besar
Kajen Sragen Makassar Sungguminasa
Karanganyar Sukoharjo Mamuju Tabanan
Kebumen Surakarta Manado Ternate
Kendal Tegal Manokwari Timika
Klaten Temanggung Mataram Tomohon
Kudus Ungaran Maumere Waingapu
Magelang Wates Mengwi Watampone
Mungkid Wonogiri Merauke Woha
Pati Wonosari Negara
Pekalongan Wonosobo
Pemalang Yogyakarta
112 PT Bank Central Asia Tbk 2024 Annual Report
Page 115
Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
REGIONAL OFFICE V REGIONAL OFFICE VII
Address: Number of Branches: Address: Number of Branches:
Jl. P. Diponegoro 15, 5th Fl. 11 Main Branches Jl. Jend. Basuki Rachmat 70-74, 11 Main Branches
Medan 20112 58 Branches 3rd Fl. Malang 65111 51 Branches
Tel. (061) 4148800 / 4575800 20 Branches Hub Tel. (0341) 358500 11 Branches Hub
Locations: Locations:
Bandar Seri Bentan Payakumbuh Banyuwangi Magetan
Batam Pekanbaru Batu Malang
Bengkalis Pematang Siantar Blitar Mejayan
Binjai Rantau Prapat Bondowoso Nganjuk
Bukittinggi Sei Rampah Jember Ngawi
Dumai Sibolga Kota Kanigoro Pasuruan
Kabanjahe Stabat Kediri Ponorogo
Kisaran Tanjung Balai Kepanjen Probolinggo
Limapuluh Tanjung Balai Karimun Kraksaan Situbondo
Lubuk Pakam Tanjung Pinang Lumajang Trenggalek
Medan Tebing Tinggi Madiun Tulungagung
Padang Tembilahan
REGIONAL OFFICE VIII
REGIONAL OFFICE VI Address: Number of Branches:
Wisma BCA Pondok Indah, 3rd Fl. 11 Main Branches
Address: Number of Branches:
Jl. Metro Pondok Indah No.10 96 Branches
Jl. Kapten A. Rivai 22, 4th Fl. 10 Main Branches
Jakarta 12310 19 Branches Hub
Palembang 30129 41 Branches
Tel. (021) 29973488
Tel. (0711) 312244 29 Branches Hub
Locations:
Locations:
Cibinong Tangerang
Bandar Lampung Menggala
Depok Tangerang Selatan
Bangko Mentok
Jakarta
Baturaja Metro
(Central, South & East)
Bengkulu Muara Bungo
Curup Muara Enim
REGIONAL OFFICE IX
Gunung Sugih Pagar Alam
Address: Number of Branches:
Jambi Palembang Jl. Matraman Raya 14-16, 3rd Fl. 13 Main Branches
Jakarta 13150 110 Branches
Kalianda Pangkal Pinang
Tel. (021) 8581966 16 Branches Hub
Kepahiang Pangkalan Balai
Koba Prabumulih Locations:
Kotabumi Pringsewu Bekasi Depok
Kuala Tungkal Sekayu Bogor Jakarta
(Central, South, East & North)
Lahat Sungai Liat
Cibinong Karawang
Lubuk Linggau Tanjung Pandan
Cikarang
Manggar Toboali
Martapura
2024 Annual Report PT Bank Central Asia Tbk 113
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Branches - continued
REGIONAL OFFICE X REGIONAL OFFICE XII
Address: Number of Branches: Address: Number of Branches:
Jl. Pluit Selatan Raya, Komp. 10 Main Branches Wisma Asia, 8th Fl. 12 Main Branches
Perkantoran Landmark Pluit 91 Branches Jl. S. Parman Kav.79 97 Branches
Blok A No. 8 12th & 15th Fl. 2 Branches Hub Jakarta 11420 30 Branches Hub
Jakarta 14440 Tel. (021) 5638888
Tel. (021) 6601718
Locations:
Locations:
Cilegon Serang
Jakarta (West, Central & North) Tigaraksa
Jakarta (West & Central) Tangerang
Pandeglang Tangerang Selatan
REGIONAL OFFICE XI
Rangkasbitung Tigaraksa
Address: Number of Branches:
Jl. Jend. Sudirman 139, 4th Fl. 8 Main Branches
Balikpapan 76113 40 Branches NON REGION OFFICE
Tel. (0542) 737133 7 Branches Hub
Address: Number of Branches:
Menara BCA, Grand Indonesia 1 Main Branch
Locations: 28th Fl., Jl. M.H. Thamrin No. 1
Balikpapan Samarinda Jakarta 10310
Tel. (021) 23588000
Banjarbaru Sambas
Banjarmasin Sampit Locations:
Batulicin Sangatta Jakarta (Pusat)
Bontang Singkawang
Kapuas Sintang REPRESENTATIVE OFFICE
Ketapang Sungai Raya SINGAPORE HONG KONG
Address: Address:
Martapura Tanjung
360 Orchard Road, # 06-06A Unit 4707, 47/F The Center,
Mempawah Tanjung Redeb International Building 99 Queen’s Road Central
Singapore 238869
Palangkaraya Tarakan
Pangkalan Bun Tenggarong
Pontianak
114 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Information on Company’s Website
BCA has a website, https://www.bca.co.id, thorough which the public can access thorough information about the
company.
On the website, BCA provides information on banking products, services and solutions to meet individual and business
needs along with details About BCA and other important information.
Information on The Company’s Website
Individual About BCA
Information on banking Login This section provides Corporation
products, services • Login KlikBCA detailed information • Visions, Missions, and Core
and solutions to meet • Download BCA mobile about the company. Values
individual needs • Webform BCA • BCA Management
(https://www.bca. • myBCA • BCA Milestones
co.id/en/individu) • Awards and Recognitions
Individual Services • Subsidiaries
• Plan For The Future
• e-Banking Investor Relations
• BCA Prioritas • Stock Informations
• Convenience Branch For You • Financial Report & Corporate
• Customer Service Presentations
• Remittance • Investor News
• Corporate Ratings
Individual Products • Economic Research Report
• Individual Savings
• Individual Loans Good Corporate Governance
• Wealth Management • ACGS, Policy, & Report
• Electronic Money • Deed of Establishment
• Credit Card • Organizational Structure
• Reward BCA • Corporate Actions
• Whistleblowing at BCA
Promo • Other Information
• Promo BCA
Sustainability
Webform BCA • Building a Sustainability Culture
• Commitment to Sustainability
Chat • Sustainable Banking
• Halo BCA Chat • Sustainability Culture
• Social Value Creation
• Sustainability Report
• Policies, Standards, & Certifications
Business
Corporate Social Responsibility
Information on banking Products
• CSR Bakti BCA
products, services • Business Savings
and solutions to meet • Business Collections Media & Research
business needs • Business Loan • News and Features
(https://www.bca. • Business Credit Card • Pressroom
co.id/en/bisnis) • Investment for Business Customers • Social Media
Business Solutions • BCA Economic Research
• Cash Management • Economic Research Report
• API
• BCA Promotion Program
• Business Debit Card Additionally, BCA’s website offers a Halo BCA service which enables
• Fire Cash BCA communication through chat media should there be inquiries regarding
BCA’s products or services or if feedback is needed for the Bank. Please
Business Services get in touch with the following for more information regarding BCA:
• e-Banking Bisnis
• Layanan Perbankan
• Treasury & Custodian
BCA Rate Corporate Secretary & Communications Division
• e-Rate BCA
• Rate Calculator
• Corporate Communication
Chat
• Halo BCA Chat
• Investor Relations
• Environment, Sustainability, Governance
Menara BCA - Grand Indonesia 20th Fl.
Career Jl. M.H. Thamrin No.1, Jakarta 10310, Indonesia
Information on working Daily Activities
Tel. (+62 21) 2358 8000
environment, career
opportunities and other Career Fax. (+62 21) 2358 8300
information about
Bakti Internship E-mail : corcom_BCA@bca.co.id
careers at BCA.
investor_relations@bca.co.id
BCA Scholarships
corporate_governance@bca.co.id
Info & Article
2024 Annual Report PT Bank Central Asia Tbk 115
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t
O3
e n
ag em
M a n
ssio n
iscu ys is
D Anal
and
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Business Segment
Performance Overview
Transaction Banking
Number of Transaction Growth
(YoY)
As one of BCA’s core businesses, rapid technological
advancements require BCA’s transaction banking to remain
agile. Consistent innovation that is responsive and focused
on diverse and dynamic needs of customers has been carried
out to maintain BCA’s competitive edge. These efforts have
20.5%
enabled BCA to sustain positive CASA growth.
Third Party Funds Composition
(in trillion Rupiah)
Customer trust in BCA’s transaction banking services is 1,133.6
1,101.7
supported by BCA’s ecosystem, which features various 1,039.7
integrated touchpoints. BCA’s transaction banking capabilities 217.0 209.6
191.8
are continuously developed by leveraging technological
advancements. BCA commites to simplify transaction
processes for customers and provide reliable payment 536.2 562.1
524.0
solutions across multiple channels to ensure a seamless,
secure, and convenient transaction experience. In 2024, BCA’s
total transaction volume reaching 36 billion transactions. 323.9 348.5 361.9
22 22
2022 2023 2024
Current Saving Time
Accounts Accounts Deposits
Corporate Banking
Corporate Loan Portfolio Growth
(YoY)
The solid growth in BCA’s Corporate Loans is the result of
BCA’s consistency as a reliable partner in providing financing
for corporate clients. Improvements in investment climate
has also driven increased demand for loans from various
sectors, such as energy and electric power generator and
15.7%
transportation infrastructure.
Corporate Loan Portfolio
(in trillion Rupiah)
BCA remains committed to providing loans across various
sectors, exploring potential new sectors, and consistently 426.8
applies prudent lending principles to maintain loan quality. 368.9
320.7
22 22
2022 2023 2024
118 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Commercial & SME Banking
Commercial &
SME Loan Portfolio Growth
(YoY)
The growth in Commercial and SME loans was supported by
11.6%
strengthened loan infrastructure while maintaining the loan
quality. Several initiatives have been taken, including providing
integrated solutions and personalized services, utilizing
data analytics to identify business opportunities developing
human resources, and strengthen relationships with vendors
Commercial & SME Loan Portfolio
and partners. Additionally, BCA offers a variety of products (in trillion Rupiah)
combined with competitive interest rates for business owners. 261.7
234.4
BCA’s support for government programs is reflected in 210.8
its partnerships with various institutions and ministries in 123.8
channeling loans to SMEs, as seen in the Macroprudential 93.0
107.8
Inclusive Financing Ratio (RPIM) reaching 21.5%.
117.8 126.6 137.9
22 22
2022 2023 2024
Commercial SME
Individual Banking
As one of the key drivers of business growth, customer trust and loyalty are continuously nurtured and
maintained by BCA through various initiatives. BCA consistently deepens its relationships with individual
customers through behavioral analysis and data-driven insights to provide appropriate and comprehensive
solutions.
Consumer loans, which include mortgage, vehicle loans, and personal loans, continued to grow well,
supported by various promotions and strategic events, including BCA Expo which was held twice in 2024.
In the investment sector, BCA strives to provide the best services through the Welma app, which now
integrated with myBCA. BCA also contributed in expanding financial literacy through initiatives such as Wealth
Management Goes to Campus and as well as Runvestasi which promotes wealth-life balance.
Consumer Loan Portfolio Consumer Loan by Product
Growth (in trillion Rupiah)
(YoY)
Increase/(decrease) 2024
2024 2023 2022
Nominal %
12.4%
Mortgage 135.5 121.8 109.1 13.6 11.2
Vehicle 65.3 56.9 47.1 8.4 14.8
Personal Loan 19.5 17.0 13.8 2.5 14.8
Total* 223.7 199.1 173.2 24.6 12.4
*)
including employee loan
2024 Annual Report PT Bank Central Asia Tbk 119
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Business Review
Transaction
Banking
CASA
The ever-growing development of Rp
transaction banking urges BCA to
continuously enhance its products 924.0 trillion
and services, while consistently
educate its customers to support Number of Transactions
sustainable business growth Growth (YoY)
20.5 %
120 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Amid rapid technological Poket Valas, a feature that allows SUSTAINABLE INTEGRATION
advancements, BCA’s Transaction customers to top up funds from OF MULTI-CHANNEL
Banking business continues to Rupiah-based accounts easily and NETWORKS
evolve, maintaining its focus on the quickly in 16 foreign currencies with
increasingly diverse and dynamic competitive exchange rates, and BCA is committed to simplify
needs of its customers. To meet these perform debit transactions (including customer transaction processes
needs, BCA consistently introduce contactless) and cash withdrawals and position its products as reliable
innovations to deliver exceptional at ATMs with no conversion rate, in payment tools across various
transaction experiences. As a result, the respective countries. BCA also channels. To achieve this, BCA
BCA has maintained positive growth developed the QRIS Payment feature continues to optimize its products,
in CASA throughout 2024, with CASA with the Customer Presented Mode strengthen processes and networks
reaching Rp924.0 trillion, which (CPM) for QRIS Payments scanned through digitalization. For example,
contributes 82% of total third-party by merchants, QRIS Transfer as an BCA debit and credit card holders
funds. alternative method for transfers, QRIS may utilize the contactless features
Cross-border for easy transactions in to make faster and more convenient
CONSISTENT INNOVATION foreign countries such as Singapore, tap transactions both domestically
FOR SECURITY AND Malaysia, and Thailand, as well as and globally. For customers that
CONVENIENCE OF OUR QRIS Tap that enables contactless cares about the safety of credit
CUSTOMERS transaction. In addition, overseas cards, they may access and set their
customers will experience the ease preference through Card Control
BCA’s Transaction Banking strives to in communicating by using roaming feature, accessible through BCA
strengthen its competitive advantage packages available in the Payment Mobile and myBCA.
by continuously innovating and & Top Up feature and performing
developing products and services. transactions through foreign phone Beside transaction features, BCA has
Both individual and organizational numbers with the Worldwide Banking a loyalty program that supports the
customers’ transactional needs have services, both of which exists in growth of funds and transactions
evolved towards a hybrid model, myBCA. For customers that require through the launch of the “Gebyar
where secure and convenient credit cards and their transactions Hadiah BCA” rewards program in May
transactions, both offline and online, be converted into installments, can 2024, which is now in its phase with
are essential to support various daily now apply for them through an online “Gacha Berhadiah” feature.
activities, particularly to synergize application within myBCA.
with business operations. Halo BCA customer service continues
BCA acknowledges the importance to play a vital role in helping customers
With tremendous transaction growth of maintaining loyalty and transition to BCA’s growing digital
in digital channel, BCA focuses convenience across its diverse ecosystem. One of the latest
on developing its mobile banking customer generations. Therefore, innovations is the ability to update
and internet banking channels, BCA continues to maintain BCA customer’s data via online, through
with various transaction banking Mobile, its previous mobile banking the Halo BCA app, which is now
features. This aims to provide a app. Both myBCA and BCA Mobile integrated with the entire contact
secure, reliable, fast, convenient, are designed to complement each center, including VoIP (no-call
and comprehensive transaction other, offering customers a range of charges), email, Halo BCA Chat, and
experience, complementing other services tailored to their preferences @HaloBCA social media accounts,
transaction channels such as branch and needs. allowing customers to easily access
offices and ATMs. services without communication
Through BCA’s innovations, total costs. In November 2024, the VoIP
Throughout 2024, BCA’s mobile customer transactions grew by Call feature is added to the myBCA
banking app, myBCA, continues to be 21%, reaching more than 36 billion app, allowing customers to reach
enhanced with additional features. transactions, with mobile banking Halo BCA support services through
With the growing global mobility of and internet banking services the app.
customers and the need for foreign accounting for more than 87% of total
currency transactions, BCA launches transactions.
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Business Review
Transaction Banking
As the primary source of information and services for BCA’s addition, BCA continues to improve services for the
customers and potential customers, BCA’s website, www. corporate ecosystem, with the aim of meeting both
bca.co.id, launched a new feature in August 2024, in the financial and non-financial needs of corporate customers.
form of Multi-purpose Business Credit simulation. This This is in line with the 2025 “Blueprint Sistem Pembayaran
feature is provided for business customers to help them Indonesia” (BSPI) established by Bank Indonesia and the
decide which loan ceilings and terms best suit their needs, “Cetak Biru Transformasi Digital Perbankan” by OJK.
and allow them to apply online.
Additionally, BCA actively collaborates with strategic
Through digitalization and a strong multi-channel network, partners and local communities to provide value added
the growth of customer acquisition through digital channels benefits for each transaction using BCA products, while
shows a positive trend, where online account openings boosting customer loyalty within the BCA ecosystem.
contributes more than 60% of total account opening
during 2024. As one of its top priority, BCA actively promotes a safe
digital transaction environment through educational
OFFERING COMPREHENSIVE TRANSACTION series like “Nurut Apa Kata Mama” and the “Don’t Know
BANKING SOLUTIONS Kasih No” campaign, which has more than 300 million
views combined. Furthermore, BCA consistently provide
As an effort to build a comfortable and collaborative support to various initiatives, including in March 2024,
ecosystem for customers and merchants, BCA offer where BCA collaboratively participated in the Consumer
solutions designed to meet the needs of every segment. Protection Movement (GEBER PK) with Bank Indonesia,
Through the BCA Merchant app, BCA provides an OJK, Kemenkominfo, and relevant associations to raise
accessible platform for merchants that is continuously customer awareness of the latest schemes of fraud and
developed to help them grow their businesses. Serving scams.
as an onboarding channel, the app had enabled hundreds
of thousands merchants to apply for EDC or Static QRIS FUTURE DEVELOPMENT PLANS
feature by December 2024. Merchants may also use this
app to monitor real-time sales, manage their stores, and BCA is committed to further enhance the transaction
communicate with BCA regarding inquiries or complaints. experience through innovations that align with evolving
customer preferences, society needs, and regulatory
The app allows merchants to easily apply for additional changes. Enhancement to its digital channels: myBCA app,
EDC machines, QRIS Static, and updating merchant’s data. Merchant BCA, and others will continue to be carried out
In 2024, several features were added to help merchants by paying attention to the principles of fast, easy, safe, and
manage their businesses, such as: multi-settlement feature convenient transactions. To meet the needs for traditional
of up to four times a day, sound notifications of successful transactions, BCA maintains service excellence through its
QRIS transactions, QRIS Payment Merchant Presented conventional channels like ATMs and branch offices.
Mode (MPM), and other solutions accessible via Android
and iOS devices. BCA will continue to strengthen its products and services in
a comprehensive and synergistic manner for both individual
BCA continues to develop the Application Programming and organizational customers. BCA will collaborate with
Interface (API) which strengthens the connectivity of relevant communities and ecosystems to provide various
the BCA ecosystem and the customer ecosystem in customer segments with literacy on products, services,
accordance with National Open API Payment Standard and educational initiatives about the safety of performing
(SNAP) which has been implemented since 2022. In transactions.
122 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Business Review
Corporate
Banking
Corporate Loan Portfolio
By deepening customer relationship Rp
and leveraging tailored solutions,
BCA strengthen value proposition 426.8 trillion
as a reliable banking partner to
corporate customers and their Corporate Loan growth
ecosystem (YoY)
15.7 %
2024 Annual Report PT Bank Central Asia Tbk 123
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Business Review
Corporate Banking
In 2024, Indonesia’s economy has Concurrently, BCA maintained To maintain a competitive edge, BCA
shown resilience in various persistent a rigorous approach to credit continues to develop a robust suite of
macro challenges, hinges on the assessment, encompassing both new digital features and offers customer-
government’s adaptive policy and and existing debtors. BCA disbursed driven solutions such as corporate
effective collaboration between Rp44 trillion in new loans to several deposit machines, QRIS API, bulk
both government and private sectors. new debtors/debtor groups, with payroll API, and bulk foreign exchange
a significant portion going to the transactions. Corporate Banking
As the leading private bank in mineral sector. BCA has also allocated leverage opportunities in creating
Indonesia, from time to time BCA has adequate impairment allowance to total business solutions by bundling
been a steadfast partner in providing mitigate potential credit losses. credit facility with cash management
financing to corporate customers. solutions and various attractive
The Corporate Banking loan portfolio As of December 2024, the corporate programs, such as employee benefit
grew 15.7% year-on-year or equal Loan at Risk (LAR) ratio improved from payroll program, tactical credit card
to Rp57.9 trillion, reaching Rp426.8 5.6% to 4.3%. The Non-Performing program, and QRIS cooperation.
trillion. This solid growth was driven Loan (NPL) ratio remained benign,
by investment loan and installment with low rate at 1.5%, down 0.4% SYNDICATED LOANS TO
loan facilities, totaling Rp48.9 trillion. from the 1.9% recorded in December SUPPORT INFRASTRUCTURE
The improved investment climate and 2023. DEVELOPMENT
increased credit demand contributed
to this positive trend. Sectors such as STRENGTHENING BCA actively supports Indonesia’s
energy and electric power generator, CORPORATE CUSTOMER infrastructure development by
transportation infrastructure, and TRANSACTIONS providing syndicated loans for
coal experienced significant growth refinancing, acquisitions, and
during this period. Corporate customers play a key business expansion in various sectors
role in the value chain ecosystem. such as toll roads, mining, chemicals,
MAINTAINING LOAN Transactions undertaken by these polywood, telecommunication, water
QUALITY customers are the cornerstone treatment, and energy. The Bank has
of BCA’s transaction banking participated in syndicated loans of
BCA consistently implemented business. BCA‘s digital capabilities, Rp41.4 trillion from Rp142.1 trillion
prudent credit risk management particularly in collections and portfolio exposure in total. Taking
practices and stayed vigilant by payments, are increasingly important multifaceted role as an arranger,
minimizing concentration risks, in strengthening liquidity and driving underwriter, participant, and agent,
which includes diversifying loans CASA growth. By leveraging our BCA has generated Rp569.6 billion
across various sectors, exploring digital capabilities and deepening fee-based income.
high-potential emerging sectors, customer relationship, BCA
and carefully selecting creditworthy encouraged corporate customers
debtors with proven track records. to utilize BCA’s transaction services
This approach aims to maintain the within their ecosystem, thereby
BCA’s loan quality in the event of bolstering CASA dan fee-based
disruption in a particular sector. income.
124 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
FUTURE PLAN Corporate Banking will also maintain LAR ratio and liquidity
adequacy level while expanding loan growth through
Corporate Banking will remain focus on high-potential various competitive lending and refinancing programs. By
sectors such as healthcare, transportation & logistics, deepening customer relationship, BCA aims to strengthen
e-commerce, building materials, and fast-moving our value proposition as a reliable banking partner to
consumer goods (FMCG). corporate customers and their ecosystem.
Digitalization and data utilization continue to underpin
BCA’s efforts to build stronger and deeper customer
relationship as we enhance our digital platforms into
customers’ ecosystems and industry. MyBCA Bisnis (MBB)
is our renewed verision of internet banking for business,
offering customized features, both automated and semi-
automated, to deliver a more tailored transaction service
to corporate customers.
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Business Review
Commercial and
Small & Medium Enterprise (SME)
Banking
Commercial & SME
Loan Portfolio
BCA offers value added solution to Rp
Commercial and SME customers,
supporting growth and enhancing 261.7 trillion
overall banking experience
Commercial &
SME Loan Growth (YoY)
11.6 %
126 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
In 2024, we continued to scale up Supporting the government’s MSME FOCUS ON CUSTOMER
Commercial and SME business, development agenda, BCA has ENGAGEMENT
underpinned by healthy growth in Ioan formed partnerships with financial
and cash management services from and non-financial institutions, BCA is committed to providing
deepening customer relationship. including Indonesian Embassies, value added banking solutions while
Various actions have been taken to Ministry of Religious Affairs, Ministry enhancing customer experience
support the growth of Commercial of Trade, Ministry of Cooperatives through diverse activities. One
and SME lending which include and SMEs, Ministry of Tourism of BCA annual event held in 2024
optimizing data-driven analytics and Creative Economy, fintech was BCA UMKM Fest, which was
to identify business opportunities, companies, and organizations with a hybrid event held via Blibli and
improving lending processes and expertise, competencies, and Grab platforms (online) and at
infrastructure, and enhancing human infrastructure in this segment. We also Kota Kasablanka Mall (offline).
resource capabilities. As the result, promote women’s empowerment and About 1,579 MSMEs, supported by
total Commercial Banking & SME green taxonomy initiatives to support various institutions (Bank Indonesia,
credit facilities grew by 10.8% to ESG objectives by offering Multi- government ministries, BCA, and
Rp438.7 trillion, while outstanding Purpose Business Credit (KMU) with communities), participated and
loans grew by 11.6% to Rp261.7 trillion, special rates for women-led MSMEs showcased products ranging from
with credit utilization rate of 60%. or business with female management food and beverages, health and
or shareholders. beauty, fashions, arts, and crafts.
QUALITY LOAN GROWTH Through the “Bangga Lokal” program,
BCA’s support is reflected in its BCA also supports and promotes
BCA always adheres to prudent Macroprudential Inclusive Financing local branded products to domestic
lending principle by carefully Ratio (RPIM), which reached 21.5% in and international markets. In addition,
considering the business prospects, December 2024. This achievement BCA also conducts business matching
needs, and scale of our customers. is mainly driven by direct and supply sessions to help MSMEs market their
We continued to strengthen chain financing, further supported products. UMKM Fest also provided
loan infrastructures to support a by financing to financial institutions, coaching through webinars on
sustainable quality credit growth. To business entities, and Surat Berharga topics related to MSME business
improve efficiency, our MSME loan Pembiayaan Inklusif (SBPI). development, which were attended
processing unit have been expanded by more than 1,500 participants.
to cover 8 new cities, bringing the To preserve the quality of our loan
total to 56 cities in 2024. portfolio, we conduct consistent
monitoring, paying particular
A broad range of financing products, attention to restructured loans. In
such as Kredit Multiguna Usaha 2024, total restructured loan for
(KMU), Kredit Usaha Rakyat (KUR), Commercial & SME improved from
and Kredit Kemitraan, have been Rp14.0 trillion to Rp10.1 trillion, or
developed and offered with tailored 3.9% of total Commercial & SME
terms and competitive interest rates. loans. Loan at Risk (LAR) also improved
These products are designed using significantly, declining from 7.8% to
a value chain approach, focusing on 5.9%, with NPL ratio of 2.2%.
prospective business communities
and sectors.
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Business Review
Commercial and Small & Medium Enterprise (SME)
BCA, in collaboration with the International Chamber BCA provides integrated solution to optimize cash
of Commerce (ICC) Indonesia, supports MSMEs in flow management for organizational customers. Our
scaling up to international markets through the UMKM comprehensive approach to “Payable Management,
Go Export program. UMKM Go Export training sessions Receivable Management, Account & Liquidity
were conducted in three cities —Bandung, Surabaya, Management,” allows BCA Cash Management to
and Malang— attended by 58 MSMEs. In addition, 32 continuously innovate, addressing the evolving customer
MSMEs participated in the Trade Expo Indonesia 2024 at needs.
ICE BSD. The program has successfully increased buyer
potential tenfold and transaction value opportunities over Leveraging the rise of the digital ecosystem, BCA offers
twentyfold. Cash Management Service through Virtual Account Online
and Application Programming Interface (API). By December
To support MSMEs in complying with government 2024, we have cooperated with more than 6,000
regulations on mandatory halal certification, BCA customers for BCA API services. In allignment with the
facilitated training and self-declaration halal certification National Open API Payment Standard (SNAP) set by Bank
for MSMEs under its mentorship. Training sessions have Indonesia, BCA has migrated Payment Service Providers
been conducted in over 26 locations nationwide, involving (PJP) since 2022, extending this to non-PJP BCA API
more than 2,500 MSME with a target of issuing 2,000 Halal users. We are also exploring digital strategic partnerships
Certificates. with various IT API Gateways, Switchers, and Virtual
Account Aggregators.
ENHANCING CASH MANAGEMENT
SOLUTIONS To strengthen payroll penetration and retention, BCA has
developed several programs, such as Welcoming Payroll,
Cash Management services have seamlessly facilitated Loyalty Payroll, and Payroll Executive, providing numerous
customer’s transactions within BCA ecosystem, driving benefits for companies and their employees. Among
growth of our CASA. By December 2024, the number of these benefits is payroll cash advance facility that allow
Commercial and SME customers utilizing cash management employees to access immediate funds with automatic full
solution increased 18% YoY, with Third Party Funds (TPF) repayment on the next payday.
from this segment reaching Rp276 trillion, of which CASA
accounts for 90%. Additionally, transaction frequency in In 2024, BCA launched “Gebyar Badan Usaha” program, a
this segment surpassed 3 billion transactions, with a total promotional campaign that includes a prize draw to foster
value exceeding Rp30,000 trillion. customer loyalty and retain CASA portfolio of corporate
customers.
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Furthermore, we continue to strengthen business FUTURE PLANS
acquisition within customers’ ecosystem, including oil
& gas business ecosystem, as well as expanding our BCA is committed to driving sustainable business growth
collaborations with key partners in public service by through several strategic initiatives, such as enhancing
improving payment solutions and extending coverage area the capabilities of relationship managers and officers,
for payment acceptance. accelerating credit penetration for entrepreneurs,
expanding market reach, and leveraging data analytics to
BCA has actively contributed to the growth of Indonesia’s optimize business processes.
capital market, facilitating the opening of numerous
investor accounts. To better serve the needs of capital In the area of cash management, we will keep expanding
market community, we have developed new feature for business community ecosystems and establishing strategic
investor account opening, and various features to meet partnerships to broaden BCA’s customer base. Our main
capital market investor’s needs. focus remains on delivering personalized solutions tailored
to customer needs, while consistently executing customer
As part of our internal processes, we unceasingly acquisition and retention programs.
optimized the use of Big Data Analytics and Intelligence
Tools to enhance decision making, boost productivity,
identify business opportunities, and personalize customer
services. Furthermore, we have invested in human resource
development to improve the effectiveness of cash
management solutions and strengthen relationship with
vendors and partners.
2024 Annual Report PT Bank Central Asia Tbk 129
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
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Individual
Banking
Consumer Loan Portfolio
For sustainable growth and stability, Rp
BCA continuously looks for ways to
improve its services and strengthen 223.7 trillion
relationships with individual
customers by analyzing and Number of Accounts
leveraging the data of customers’ Growth (YoY)
behavior, transactions, and
portfolios 8.0 %
130 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Relationship with customers plays Community Program (BYC) to To support sustainable growth,
an integral part in the Bank’s main maintain and develop customers’ BCA ensured that potential auto
focus. Their trust and loyalty are second and third generations. In loan customers could easily access
critical factor of BCA’s sustainable 2024, BCA earned Indonesia’s Best information on services and offerings
growth and stability. As such, BCA for Next-Gen award from Euromoney for vehicles through multiple
continuously looks for ways to for BYC initiative. channels. To date, customers may
improve its services and strengthen purchase vehicle insurance from BCA
these relationships. MORTGAGES Insurance. Future collaborations and
synergies with dealers, subsidiaries,
In 2024, BCA deepened engagement Mortgage portfolio grew by 11.2% and other related partners will be
with individual customers by analyzing YoY to Rp135.5 trillion as of December strengthened to ensure growth in the
and leveraging the data on their 2024. The solid growth was supported coming years.
behavior, transactions, and portfolios. by government policies that aimed to
Product bundling and offering were boost the property sector, such as the CREDIT CARDS
tailored by profession, customer extension of the LTV relaxation policy
journeys, and other parameters. to 100% and the PPN-DTP program As one of the leading credit card
These efforts successfully maintained for house purchased throughout providers in Indonesia, BCA offers
and grew BCA’s individual customer 2024. Despite the end of COVID proprietary cards on its private label,
base. By the end of 2024, individual relaxation program in March 2024, as well as partnerships with well-
customers reached more than 32 BCA successfully maintained its known international principals, such
million, grew around 8% from 2023. mortgage NPL ratio at 1.3%, through as Visa, Mastercard, JCB, AMEX,
Online accounts opening contributed strict monitoring and consistent NPL and UnionPay. Additionally, BCA has
about 60% to total account opening. management. established co-branding partnerships
with a renowned international airline,
BCA SOLITARE AND The key drivers of the stellar growth such as Singapore Airlines, as well as
PRIORITAS SERVICE were BCA Expo, both offline and prominent e-commerce platforms,
online, held in February and August. including BliBli and tiket.com.
High Net Worth Individuals (HNWI) High public enthusiasm for these
and Affluent customers enjoy special expos was reflected in the total Through these partnerships,
privileges through BCA Solitaire and mortgage applications of Rp43.2 customers can securely and
Prioritas memberships, as part of the trillion, from the two events. conveniently use BCA credit cards
Bank’s efforts to deliver exceptional at a wide range of merchants, both
experiences. In the long term, BCA remains internationally and domestically.
optimistic about the promising Several collaborations through
To maintain relationships with prospects of the property sector. promotions and special events are
customers, BCA Solitaire and Prioritas As the market leader in the non- held to boost customer engagement
consistently strengthened their value subsidized mortgage industry, BCA and support volume growth.
propositions, both in banking and is committed to developing its digital
non-banking services. As part of the service infrastructure and enhancing WEALTH MANAGEMENT
Solitaire and Prioritas experience, data analytics capabilities for
customers enjoyed priority in branch marketing and mortgage processing In July 2024, Wealth Management
and digital services. These customers purposes. BCA received the Best Wealth
also have a dedicated Relationship Management Bank in Indonesia by
PIC and Personal Banker, which are VEHICLE LOANS Alpha Southeast Asia. The award
trained wealth advisors who provide served as tangible evidence of
high quality banking solutions. Through ongoing collaborations BCA’s success in delivering wealth
From these excellent services, BCA with various well-known car brands management solutions to its
received the 2024 Euromoney Global and dealers across Indonesia, BCA’s customers through a mix of product
Private Banking Awards for being Vehicle Loan business recorded a and digital platform development, as
Indonesia’s Best for High Net Worth. strong growth of 14.8% YoY in 2024, well as several engaging activities.
reaching Rp65.3 trillion. The growth As of December 2024, Assets Under
Recognizing the value and importance was further supported by synergies Management (AUM) for investment
of nurturing future HWNI and Affluent within the Bank’s subsidiaries: BCA products grew by 35% YoY, reaching
customers, BCA held BCA Young Finance and BCA Multi Finance. Rp268.4 trillion.
2024 Annual Report PT Bank Central Asia Tbk 131
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
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Individual Banking
AUM growth was supported by the expansion of BCA’s Through Runvestasi, BCA raised awareness regarding both
wealth management products, from investments to physical and financial health. In September 2024, the Bank
insurance. In investments, eight curated mutual funds were held the BCA Wealth Summit 2024, demonstrating its
added. Additionally, BCA enabled customers to perform commitment to enhance public education. Under the theme
online risk profile assessments through the “Welma” menu “Grow Prosperity Beyond Wealth”, the event featured
in myBCA. speakers from domestic and international backgrounds.
In collaboration with its insurance partner AIA, BCA PLANS FOR FUTURE DEVELOPMENT
launched Wealth Premier Protection, a solution with
increasing sum-assured benefits designed specifically for In 2025, Individual Banking will continue to focus on
HNWI. BCA also introduced the “Protection” menu in the developing customer ecosystems. Using data analytics,
myBCA app. Through this feature, customers can easily Individual Banking will identify customer’s needs to grow
purchase MyGuard insurance products from BCA Life. This their portfolios. Acquiring high-quality customers will be a
accessibility is expected to encourage more customers to key strategy, based on specific segments and professions.
obtain life protection quickly and conveniently.
BCA will continue to collaborate with its subsidiaries
BCA also expanded its Government Bond (SBN)-backed and various third parties, both in collaborative product
loan facilities by adding USD denominated options (INDON/ offering, seamless onboardings and alignment in myBCA.
INDOIS). These facilities were offered for both working Furthermore, partnership with third parties will be
capital and secured personal loans. strengthened to create unique products, programs, and
services, in line with the preferences of different customer
BCA promotes widespread financial literacy and inclusion segments. The Bank will also enhance its customer
across all societal levels through various initiatives. Some relationship management system to improve efficiency
examples of events include ‘Wealth Management Goes to and customer experience, as part of maintaining and
Campus’ events, aimed at youth and students to promote strengthening trust for Individual Banking customers.
financial management, and ‘Runvestasi’, a virtual run event.
132 PT Bank Central Asia Tbk 2024 Annual Report
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Business Review
Treasury and
International Banking
Investment Funds Managed by
Treasury (Treasury Portfolio)
BCA customers have access Rp
to a full suite of BCA Treasury
solutions, as well as International 372.6 trillion
Banking products and solutions
that are aligned with global Composition to Total
Assets
financial trends
25.7 %
2024 Annual Report PT Bank Central Asia Tbk 133
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Treasury and International Banking
TREASURY BANKING INTERNATIONAL BANKING
BCA Treasury Banking consistently upholds for optimal BCA strives to develop international banking products and
liquidity management, carefully balancing risk and returns services that align with global financial trends and bring
through investment opportunities. BCA manages Rp372.6 added values to customers. Our comprehensive range of
trillion treasury assets, representing 25.7% of BCA’s total International Banking services encompass cross-border
assets. remittances, trade finance, and specialized solutions for
banks and financial institutions.
Beside managing the liquidity, BCA Treasury Banking offers
a broad range of solutions to serve the financial needs TRADE FINANCE
of our individual, organizational, and financial institution
clients that encompassing foreign exchange, capital BCA responded to the challenge of increasing customer
markets, money markets, and custodial services. mobility and technological advancement with greater
efficiency across its line of services, including trade finance.
LIQUIDITY MANAGEMENT To meet customers’ needs for fast trade transactions, BCA
provided seamless and faster trade finance services for
In 2024, BCA was appointed as a Primary Dealer by Bank both domestic and international trade.
Indonesia (BI) to support the implementation of monetary
operations and development of money and foreign Trade finance services were continuously enhanced
exchange markets. through the use of Client Trade, an electronic platform that
provides an easier, faster, and more secure application
Despite fluctuating market conditions, BCA continued to process for Letters of Credit (LC) and Surat Kredit
maintain a strong liquidity position. We allocated excess Berdokumen Dalam Negeri (SKBDN).
funds to high-yield risk-measurable financial instruments,
which include BI instruments, government bonds, and REMITTANCE
selected corporate bonds.
As digitalization drives global economic growth through
TREASURY BANKING SOLUTIONS efficiency and innovation, we continue to leverage digital
services to meet the evolving needs of organizational and
BCA Treasury Banking provides a full suite of financial individual customers. Our efforts have yielded positive
solutions for its clients, encompassing both hedging and results, with 39% of remittance transactions through
alternative investment. These solutions include foreign e-channels.
exchange (FX) products such as spot, forward, and swap
contracts, as well as interest rate and cross-currency BCA as a leading remittance provider over 20% with market
swaps. BCA also offers options-based products such share consistently supports the government in maintaining
as call spread options and FX options. Customers can macroeconomic stability with Local Currency Transactions
access to swap-linked deposits, domestic non-deliverable (LCT). We have facilitated a 31% increase in international
forwards (DNDF), BI FX Term Deposit, Money Market Time trade transactions using local currencies with Malaysia,
Deposit, and bonds. Moreover, BCA facilitates Local Thailand, Japan, and China.
Currency Transaction (LCT) services to enable cross-
border payments. BCA also strives to be the customers’ top choice by
continually improving foreign exchange payment services,
BCA Treasury Banking has expanded its services to include with a focus on enhancing remittance features through
custodial services for various assets, such as stocks, e-channel.
government and corporate bonds, deposits, mutual funds,
and fund management contracts in both Rupiah and foreign FINANCIAL INSTITUTIONS
currencies. The custodial services managed Rp432 trillion
assets, an increase of 21% year on year, with more than BCA keeps strengthening its relationships with global
380,000 registered securities accounts. correspondent banks while adhering to Know Your
Customer (KYC) principles and Anti-Money Laundering
(AML) policies. By doing so, we ensure our ability to navigate
the dynamic global political and economic environments
that directly and indirectly influence the banking sector.
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In addition, BCA extended business relationship to both Trade finance and guarantees services are the eventual
international and domestic Non-Bank Financial Institutions result of BCA’s solid relationships with and trust from its
(NBFI) partners. Through these partnerships, we provide correspondent banks. In line with global economic growth
tailored banking solutions for NBFIs that operate in various and increasing focus on Indonesia’s strategic initiatives
financial sectors, including fintech, money transfer –such as the new capital city IKN (Ibu Kota Nusantara),
operator, Indonesian migrant worker remittance, business Morowali Industrial Estate, and other major infrastructure
payments, and domestic NBFIs. projects, BCA provides tailored service to eligible
customers requiring trade finance and bank guarantees for
Adapting to the digitalization of banking services, BCA domestic and international trade transactions.
continuously enhances its FIRE API application that has
a real-time connection to BI FAST in order to deliver BCA also offers local banking services in the form of
swift, secure, and flexible remittance solutions for both SBLC (Standby LC) and bank guarantees for the eligible
remittance providers and NBFI partners. customers of correspondent banks who have business
investment in or expansion to Indonesia.
We also actively support the government’s LCT program
in key target countries, such as Malaysia, Thailand, Japan, FUTURE DEVELOPMENT
and China. At the same time, we prepare to support LCT
expansion to additional countries utilizing our banking As we adapt to market dynamics, Treasury and International
correspondent network. BCA’s QR Cross Border payment Banking will continuously deliver exceptional financial
service has operated in Thailand and Malaysia, and just solutions through wide array of innovative products
recently launched in Singapore. QR Cross Border features and solutions to meet customers’ needs by leveraging
real-time exchange rate conversion and offers a fast technological advancement.
and seamless payment experience, which at the end it’s
expected to support the economic growth of participating By optimizing our digital channel and streamlining
countries. processes, we aim to improve service quality and efficiency
to ensure the satisfaction of our valued customers.
2024 Annual Report PT Bank Central Asia Tbk 135
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis Business Support Risk Management Facing the dynamic banking business environment, the implementation of risk management serves as a critical foundation for the Bank to maintain stability, protect customer interests, and comply with applicable regulations 136 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
BCA implements risk management • Enhancing implementation of scenarios. Additionally, BCA considers
policies in accordance with prevailing cybersecurity and information the magnitude of risks and trends
regulations and international technology risk management from the Bank’s Risk Profile report and
best practices. In addition, BCA in accordance with regulatory underlying parameters in the analysis
continuously enhances risk provisions and national/ of capital adequacy to determine the
awareness through risk management international standards, overall business model and interaction
training for all units to have a strong including adjustments to with the risk profile.
understanding of risks and their role in organizational structure, policies,
risk management. procedures, and tools used in risk Loan Quality
management. BCA consistently applies risk
RISK MANAGEMENT FOCUS • Adjusting policies and management discipline in loan
FOR 2024 procedures related to disbursement. These efforts were
compliance with Law No. 27 of reflected in non-performing loans
In executing business strategies 2022 dated 17 October 2022 (NPL) ratio of 1.8% per December
and activities, BCA continues to concerning Personal Data 2024. Restructured loans decreased
emphasize the principle of prudence Protection and ISO 27701, as well by 1.9% to 3.2% compared to the
through the application of good as information security policies previous year, in line with improving
risk management principles while referring to ISO 27001 through economic conditions and increasing
adhering to applicable regulations the issuance of personal data debtors’ business activity. This was
and considering business environment protection policies, including also reflected in the decrease of Loan
developments. Throughout 2024, ensuring implementation and at Risk (LAR) of 161 bps, to 5.3% of the
BCA’s risk management system conducting outreach related to total loan portfolio at the end of 2024.
focuses on several key activities, personal data protection.
including: • Implementing system and To anticipate potential credit risk,
• Regular and proactive monitoring methodology for calculating BCA has allocated an allowance
to observe debtors who Market Risk Weighted Assets for impairment (CKPN) on loan
previously underwent COVID-19 for calculation of the Minimum assets amounting to Rp33.5 trillion
restructuring program. Capital Adequacy Ratio throughout 2024. As such, total CKPN
• Update policies and procedures (CAR) in accordance with was recorded at Rp2.0 trillion and
for Corporate, Commercial, OJK Regulation No. 23/ which is considered adequate to
SME, Consumer, Credit Card and SEOJK.03/2022 dated 7 anticipate the potential risk of bad
Interbank Loans. December 2022 concerning the debts.
• Developing Integrated Risk Calculation of Risk-Weighted
Management Information System Assets for Market Risk, which will BCA continuously monitors credit
(IRMIS) application to support the be effective in January 2024. concentration risk, including the use of
preparation of BCA’s risk profile The trial report of Market Risk credit limits and the portfolio quality,
reports, integrated risk reports, Weighted Assets calculation has and evaluates industry sectors with
and integrated capital adequacy been submitted to the regulator. consideration of prospects/ business
reports. • Conducting market risk study on performance and the establishment
• Implementing OJK Regulation the implications of transitioning of limits for specific financing types
No. 24/SEOJK.03/2021 dated 7 from the use of LIBOR to which are adjusted to the risk level.
October 2021 on the Calculation alternative reference interest In addition, BCA also implements
of Risk-Weighted Assets for rates (ARRs) and preparing an Early Warning System (EWS) to
Credit Risk Using the Standard a system to accommodate detect potential bad debts, and take
Approach for Commercial Banks, derivative transactions using preventive measures to minimize the
replacing OJK Regulation No. 42/ alternative reference interest risk.
SEOJK.03/2016. rates.
• Implementing the Standard Liquidity
Approach in calculating Risk- Furthermore, BCA conducts periodic BCA is committed on maintaining
Weighted Assets (RWA) for stress tests to measure the impact of its adequate liquidity position while
operational risk referring changes in macroeconomic factors monitoring the balance between
to OJK Regulation No. 6/ on capital, liquidity, asset quality, short-term liabilities and short-term
SEOJK.03/2020 dated 29 April and the Bank’s profit. In general, the funds. BCA also ensures that funds are
2020 on the Calculation of Risk- stress test indicates that BCA has adequate through short-term, liquid,
Weighted Assets for Operational a solid capital and liquidity position and low-risk placements, especially
Risk Using the Standard Approach to anticipate estimated losses from in risk-free securities issued by Bank
for Commercial Banks. potential risks in various worsening Indonesia.
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
BCA’s Loan to Deposit Ratio (LDR) in December 2024 was The quality of operational risk event data is extremely
recorded at 78.4%. Meanwhile, the Liquidity Coverage crucial in determining the adequate capital requirements
Ratio (LCR) and Net Stable Funding Ratio (NSFR) remained for operational risk exposure. Therefore, BCA regularly
solid at 323.0% and 155.9%. reviews the mechanisms for identifying, collecting, and
handling data on operational risk loss outlined in the
Capital Position provisions/manual of the Operational Risk Management
BCA always maintains adequate capital to support the Information System (ORMIS) – Loss Event Database (LED),
sustainable business growth of the Bank and its Subsidiaries. and carries out socialization to work units.
As of December 2024, BCA had a consolidated Capital
Adequacy Ratio (CAR) of 29.1%. The Bank’s capital needs Furthermore, to anticipate risks related to information
are met through organic capital growth, supported by solid technology including cybersecurity risks, BCA has
profitability. established an organizational structure for managing
cybersecurity risk with the Information Security Group (ISG)
In accordance with POJK No.14/POJK.03/2017 regarding as the first line, Cyber Security Risk Management (CBR) as
the Recovery Plan for Systemic Banks, BCA has: the second line, and the Internal Audit Division (DAI) as the
• Issued Rp500 billion worth of subordinated bonds third line of defense. BCA’s policies related to information
in 2018 to comply with its obligation to issue debt technology include:
securities with equity characteristics. • Basic Policy on Risk Management in the Use of
• Developed and submitted its first Recovery Plan Information Technology
document in 2017, and thereafter routinely submitted • Policy on Information Technology Implementation
the annual (2018 until 2024) Updated Recovery Plan to • Policy on Cybersecurity Risk Management
Financial Services Authority (OJK). • Provisions for protecting information assets, including
the Information Security Policy, Data Loss Prevention
Additionally, in accordance with Regulation of Indonesia Manual, and Bring Your Own Device (BYOD) Guidelines
Deposit Insurance Corporation (LPS) No. 1 of 2021 on • Disaster Recovery Plan
Resolution Plan for Commercial Banks, BCA has also
submitted its Resolution Plan to the Indonesia Deposit In compliance with Law No. 27 of 2022, dated October
Insurance Corporation (Lembaga Penjamin Simpanan or 17, 2022 concerning Personal Data Protection, BCA has
LPS) in 2022 and updated it in 2024. established a unit to coordinate the Personal Data Protection
Officer in accordance with regulatory requirements and
Exchange Rate Risk has made adjustments to its policies and procedures.
Amid fluctuations in the Rupiah exchange rate against
foreign currencies due to global economic pressures, INTERNAL CONTROL
BCA manages risks related to foreign currency exposure
by maintaining a conservative Net Open Position (NOP). BCA implements supervisory mechanisms that have been
In December 2024, BCA’s NOP was recorded at 0.3%, far established by the management on an ongoing basis,
below the maximum 20% limit established by the regulator. that are aligned with the objectives, size and complexity
BCA constantly monitors foreign exchange transactions of BCA’s business activities and make reference to the
to comply with the provisions and internal policies of the requirements and procedures stipulated by the regulator.
Bank, as well as those of the regulator (Financial Services
Authority/Bank Indonesia). Transactions processed through Objectives of the Internal Control System
the branches are monitored, recorded, and reported to BCA’s implementation of an effective internal control
the Treasury Division, which manages all foreign currency system aims to ensure, among others:
transactions. And, each branch is required to cover its 1. Compliance with laws and regulations as well as
foreign exchange rate risk at the end of the working day in internal policies/provisions.
accordance with the tolerance limit given. 2. Completeness, accuracy, efficiency, and timeliness of
provision of financial and management information.
Operational Risk 3. Effectiveness and efficiency of operational activities.
BCA has implemented the Calculation of Risk-Weighted 4. Overall effectiveness of risk culture.
Assets (RWA) for operational risk using the Standard
Approach with reference to SEOJK No. 6/SEOJK.03/2020
and submitted the Risk-Weighted Asset Calculation Report
for Operational Risk using the Standardized Approach
and the Risk Management Implementation Report for
Operational Risk to the regulator.
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RISK PROFILE ASSESSMENT OF BCA AND I.B. Adequacy of Risk Management Policies &
SUBSIDIARIES Procedures, and Determination of Risk Limits
The adequacy of risk management policies and procedures
Based on its self-assessment, BCA’s risk profile rating for as well as the determination of risk limits can be seen from,
both its individual and integrated assessments with its amongst others:
subsidiaries in 2024 is “low to moderate.” This risk profile 1. An adequate formal organizational structure to support
rating is based on the assessment of inherent risk as “low the implementation of sound risk management and
to moderate” and the evaluation of risk management internal control, including the DAI, MRK, DCP, POL, RMC
implementation quality as “satisfactory.” and IRMC.
2. Policies, procedures, and risk limit determinations
DISCLOSURE OF RISK MANAGEMENT have been documented and regularly reviewed and
updated.
The disclosure of BCA’s risk management principles and 3. Formulation of the Bank Business Plan (RBB), which
risk exposure, including capital, refers to OJK Circular outlines the direction of risk management policies
No.9/SEOJK.03/2020 dated 30 June 2020 regarding and BCA’s overall strategy, in alignment with its vision,
Transparency and Publication of Report for Conventional mission, business strategy, capital adequacy, human
Commercial Banks resource capabilities, and risk appetite. The Bank
Business Plan is periodically reviewed and adjusted to
I. BCA’s Application of Risk Management accommodate internal and external developments or
BCA has implemented risk management with reference changes.
to POJK No.18/ POJK.03/2016 dated 16 March 2016 on
the Implementation of Risk Management for Commercial 1.C. Adequacy of Risk Identification, Measurement,
Banks, as follows: Monitoring & Mitigation Processes, and Risk
Management Information System
1.A. Active Supervision of the Board of Risk identification, measurement, monitoring and control
Commissioners and Directors as part of the process of implementing adequate risk
Board of Commissioners and the Board of Directors are management, as seen among others from the following:
responsible of effective risk management implementation 1. Regularly and continuously monitor risk exposure by
at BCA. The execution of active supervision by the Board comparing actual risk against established risk limits, to
of Commissioners and Board of Directors refers to the ensure that the risk exposure remains manageable in
duties and responsibilities as stipulated in the Articles of accordance with the Bank’s risk tolerance level.
Association, laws and regulations, as well as applicable 2. Regularly submit reports, including among others the
internal and external regulations. In addition, supervision is Risk Profile Report, Integrated Risk Profile Report,
carried out among others through the following: Credit Portfolio Report, and Corporate Business Plan
• Board of Commissioners Progress Report. These are submitted to the Board of
- Supported by the Audit Committee, Risk Directors regularly, accurately and in a timely manner.
Oversight Committee, Remuneration &
Nomination Committee, and Integrated Corporate I.D. Comprehensive Internal Control System
Governance Committee. BCA’s Internal Control consists of five main components that
- Maintains constructive communication and are in line with the Internal Control Integrated Framework
actively provides advice to the Board of developed by The Committee of Sponsoring Organization
Directors in determining strategic actions to be of the Treadway Commission (COSO), which covers:
implemented. 1. Management Oversight and Control Culture
• Board of Directors 2. Risk Recognition and Assessment
- Supported by the ALCO, Credit Policy Committee, 3. Control Activities and Segregation of Duties
Credit Committee, RMC, Information Technology 4. Accountancy, Information and Communication
Steering Committee, Employee Relation 5. Monitoring Activities and Correcting Deficiencies.
Committee, and IRMC.
- Actively engages in discussions, provides input, Through this three lines model, BCA’s internal control system
and monitors internal and external conditions and risk management involve all levels of the organizational
that directly or indirectly affect BCA’s business structure, with oversight by the Board of Commissioners
strategies. and the Board of Directors.
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
To support the implementation of an internal control system, BCA has also established a comprehensive internal control
BCA has established standard guidelines for internal control system to support the implementation of integrated risk
systems and risk management policies, comprising of clear management, by ensuring the following:
delineation of responsibility, segregation of functions, risk • Adherence to internal policies or provisions as well as
limit procedures, and others. BCA strongly encourages a risk applicable laws and regulations.
awareness culture and compliance with applicable policies • Availability of complete, accurate, suitable and timely
and regulations. Risk management guidelines and policy financial and management information.
implementation are monitored by the Risk Management • Effectiveness of risk culture in the financial
Division (MRK) and Compliance Division (DCP), which conglomerate organization as a whole.
function as the second line roles.
GENERAL MEETING OF SHAREHOLDERS
BOARD OF DIRECTORS BOARD OF COMMISSIONERS
Asset & Liability Remuneration
and Nomination
Committee PRESIDENT DIRECTOR Committee
Credit Policy Risk
Committee Oversight
Committee
Credit Internal Anti
Committee Integrated
Audit*) Fraud Corporate
Risk Governance
Management Committee
Committee
Audit
Information Committee
Technology
Steering
Committee
reporting lines
Employee
Relations DEPUTY PRESIDENT DIRECTOR DEPUTY PRESIDENT DIRECTOR
monitoring lines
Committee (IT & DIGITAL BANKING) (BUSINESS BANKING & OPERATION)
communication lines
Integrated
Risk
Management CREDIT & COMPLIANCE & HUMAN coordination lines
Committee RISK MANAGEMENT
LEGAL CAPITAL MANAGEMENT DIRECTOR2)
DIRECTOR DIRECTOR2)
1. Oversee internal audit
/ risk management /
compliance function
EXECUTIVE VICE Risk Management of subsidiaries in
PRESIDENT Divison1) association with
integrated corporate
SUBSIDIARIES
governance & integrated
Credit Risk risk management
Analysis application.
Central Capital
2. Compliance & Risk
Ventura
Management Director
Enterprise Operational Business
Credit Risk Market Risk Cyber Security oversees subsidiaries
Bank Digital Risk Risk Continuity & Crisis
Management Management Risk Management risk as part of integrated
BCA Credit Management Management Management
risk management
Recovery
BCA Sekuritas
Legal
BCA Finance Ltd.
Hong Kong
BCA Syariah
Asuransi
Umum BCA
Asuransi Jiwa
BCA
BCA Finance
REVIEW OF THE EFFECTIVENESS OF THE BANK’S RISK MANAGEMENT SYSTEM
BCA’s Boards of Commissioners and Directors evaluate the effectiveness of the Bank’s risk management system, assisted
by the committees under them. These committees meet regularly to discuss and provide input and recommendations to the
Board of Commissioners and the Board of Directors.
The Bank also conducts regular evaluations on the following:
• Applicable policies and methodologies for risk assessments
• Adequacy of policies, procedures, and determination of risk limits
• Adequacy of identification, measurement, monitoring, and mitigation of risks
• Effectiveness of a comprehensive internal control system.
140 PT Bank Central Asia Tbk 2024 Annual Report
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Evaluation and updating of policies, procedures and Risk Appetite
methodologies are conducted regularly to ensure The Bank defines risk appetite as the level and type of risks
compliance with applicable regulations and operational which the Bank is willing to take to achieve its business
conditions. Evaluation of the effectiveness of risk objectives. The risk appetite set by BCA is reflected in the
management is also conducted through regular reports Bank’s business strategies and objectives.
submitted to the Board of Commissioners and the Board
of Directors, including the Risk Management Policy Stress Test
Implementation Report, Risk Profile Report, Risk Update, BCA continually and regularly performs stress tests under a
and other related reports. variety of scenarios, including climate stress test scenarios,
and consistently deepens the factors and parameters of
In 2024, the Board of Commissioners and the Board of these tests. Stress test scenarios consider macroeconomic
Directors declared that BCA’s internal control system variables such as interest rates, inflation rates, gross
and risk management system were working effectively domestic product (GDP), and exchange rates. The
and adequately, and were capable of managing risks and methodology used in conducting stress tests, in addition
business opportunities to support the Bank in achieving to statistical models based on historical data, also employs
its business objectives without compromising financial judgment methods that take into consideration qualitative
performance, compliance, and/or reputation. BCA has risk factors. Stress testing is carried out to see the impact
an internal control system and risk management system of changes in macroeconomic factors on various key
that can anticipate and manage risks by taking into indicators, including the NPL, profitability, liquidity, and
consideration changes in the risk profile that result from capital.
changes in business strategy, external factors, or regulatory
requirements. The results of the Bank’s stress testing for credit, market, and
liquidity risks have been satisfactory, with the capital and
Implementation of the Basel Accords liquidity of the Bank still adequate to anticipate potential
The Bank continues to prepare for the implementation of the losses that may emerge based on the scenarios formulated.
Basel Accords in Indonesia and participates in supporting Besides that, BCA also carries an integrated stress test that
the implementation of Basel III both in terms of capital and includes its subsidiaries.
liquidity, among others through the Quantitative Impact
Study (QIS). BCA participates in the implementation of QIS
for Market Risk and Operational Risk.
II. BCA Capital
Capital Structure
BCA’s capital structure consists of the following:
1. Core capital (Tier 1) accounting for 96.3% of total capital at Rp255.3 trillion, up 9.2% from the previous year.
2. Whereas 3.7% of BCA’s total capital, or Rp9.9 trillion, is supplementary capital (Tier 2). The Supplementary capital
consists mainly of general reserves for Allowance of Asset Quality Assessment (PPKA).
Capital Component (consolidated - in billion Rupiah)
2024 2023 2022
Capital 265,198 242,694 220,568
Tier 1 Capital 255,311 233,702 212,446
Tier 2 Capital 9,887 8,992 8,123
Risk Weighted Assets 910,184 825,611 821,723
(Credit, Operational and Market Risk)
Capital Adequacy Ratio (CAR) - consolidated 29.1% 29.4% 26.8%
Capital Adequacy Ratio (CAR) - non consolidated 29.4% 29.4% 25.8%
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Management Policy on Capital Structure 1. The Board of Commissioners is responsible for
BCA ensures an adequate capital position to support the approving the Bank’s credit plans and overseeing its
business development of the Bank and its subsidiaries. The implementation, approving the Bank’s Credit Basic
Bank’s capital adequacy is calculated using the Capital Policy, and requesting an explanation from the Board
Adequacy Ratio (CAR) indicator. BCA has an adequate of Directors should there be any deviations in loan
capital level with a CAR of 29.4%, above the minimum disbursement from the stipulated policies.
requirement in accordance with its risk profile, plus an 2. The Board of Directors is responsible for preparing
additional 5.0% as buffer. As a systemic bank, BCA has the credit plan and credit policy, ensuring the Bank’s
established this buffer in accordance with Bank Indonesia compliance with the prevailing regulations on credit
regulations regarding mandatory establishment of a and credit policy, and reporting to the Board of
conservation buffer, a countercyclical buffer, and a capital Commissioners on matters such as the implementation
surcharge. of credit plans, irregularities in loan disbursement, loan
portfolio quality, and credit in the special mention or in
The Bank and all its subsidiaries have carried out integrated the non-performing loan category.
stress tests using various scenarios including various 3. The Chief Risk Officer is a BCA director who is
changes to NPL levels and their effects on income, liquidity responsible for the management of credit, market,
position and capital position. In general, the stress tests operational, and other risks within the organization
results show that the liquidity and capital positions of BCA (hereinafter referred as the Risk Management Director).
and its subsidiaries are very much adequate in anticipating 4. Work units that perform functions related to credit risk
losses from potential risks, based on the scenarios management (the Loan Business Unit and Credit Risk
formulated. Analyst Unit), as the risk owners responsible for the
management of credit risk.
BCA capital requirements were able to be fully met through
the healthy growth of the Bank’s financial performance. In addition, the Bank has dedicated committees to assist
Most of the Bank’s net profit is retained to increase BCA’s the Board of Directors in the lending process, such as the
capital each year. Credit Policy Committee, the Credit Committee, and the
Risk Management Committee.
Basis for Management Policy on Capital Structure
BCA’s capital policy is regularly adjusted with reference Risk Management Strategies for Activities with Significant
to business potential and the application of the principle Credit Risk Exposure
of prudence. Regarding the provisions of the Financial BCA formulates its risk management strategies in
Services Authority (OJK), the Board of Directors prepares accordance with the overall business strategy and based
a capital plan as part of the Bank’s Business Plan and on risk appetite and risk tolerance. These risk management
obtains the approval of the Board of Commissioners. The strategies are also designed to ensure that BCA’s risk
capital structure policy refers to OJK Regulation No. 11/ exposure is prudently managed in line with its credit policy,
POJK.03/2016 dated 2 February 2016 and POJK No. 34/ BCA’s internal procedures, laws and regulations, and other
POJK.03/2016 dated 26 September 2016 on the Minimum applicable provisions.
Capital Requirement for Commercial Banks.
BCA’s risk management strategy is structured based on the
III. Disclosure of Risk Exposure and Implementation following general principles:
of Risk Management • Risk management strategies should towards the long-
The following is an overview of the risk exposures faced by term to ensure the sustainability of BCA’s business by
BCA in conducting its business and the application of risk considering economic conditions and cycles,
management designed to minimize the impact of these • Able to comprehensively control and manage the risks
risks. of BCA and its Subsidiaries, and
• Maintain expected capital adequacy and allocate
III.A. Disclosure of Credit Risk Exposure and adequate resources.
Implementation of Credit Risk Management
The following factors are taken into consideration in
Organization of Credit Risk Management designing the risk management strategy:
BCA has developed a structured credit risk management • Economic and business development and the potential
process to support strong credit principles with impacts of risks faced by BCA
strong internal controls, which involves the Board of • The organizational structure of BCA, including the
Commissioners, Board of Directors, Chief Risk Officer, adequacy of human resources and supporting
and work units that carry out functions related to credit infrastructure
risk management (the Loan Business Unit and Credit Risk
Analysis Unit) with details as follows:
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• The financial condition of BCA, including its ability Adjustment (CVA) risk weighted assets in accordance with
to generate earnings and the ability to manage risks SEOJK No. 23/SEOJK.03/2022 regarding Calculation of
arising from both external and internal factors, Risk Weighted Assets for Market Risk for Commercial Banks.
• The composition and diversification of BCA’s portfolio.
Impact of Collateral on Credit Rating
Credit Concentration Risk Management Policy The quality of debtor loan is influenced by various factors,
BCA manages credit concentration risk by determining one of them being the quality of the collateral provided. The
limits for, amongst others, the industrial sector, foreign impact of collateral on a debtor’s credit differs between
exchanges, and certain types of loans, as well as both productive loans and consumer loans. For productive loans
individual and business group exposures. In line with the such as SME, commercial and corporate, the collateral
development of a rating database, technology, human (type, value and/or quality) will affect the credit rating in
resources, the Bank’s complexity level, the market and terms of the exposure risk factor (not the customer risk
existing regulations, the Bank actively manages the credit factor), and thus better quality collateral can improve the
portfolio by optimizing the allocation of the Bank’s capital exposure risk factor.
within acceptable levels of risk appetite and risk tolerance.
Whereas for consumer loans such as Mortgages, the
Credit Risk Measurement and Control collateral value will directly affect the credit rating of the
BCA measures credit risk using a standardized method that is debtor and thus the higher the value of the collateral, the
compliant with OJK Circular Letter No. 24/SEOJK.03/2021 better the debtor’s credit rating will be.
regarding Guidelines for Calculating Risk Weighted Assets
Using a Standardized Approach. The regulation specifies Standardized Approach to the Implementation of Credit
that all banks must use RWA calculation for credit risk using Risk Measurement
a Standardized Approach. In the calculation of Risk Weighted Assets (RWA) for
credit risk, the Bank refers to OJK Circular Letter No.24/
For internal needs, the Bank uses an internal rating as a SEOJK.03/2021 regarding the Calculation of Risk Weighted
supporting tool in the credit decision-making process. Assets by using the Standardized Approach for Credit
Credit risk management is executed by establishing an Risk, and OJK Circular Letter No.48/SEOJK.03/2017 on
independent internal credit review for an effective credit Guidelines for Calculating Net Derivative Transaction Bills in
risk management process, covering: the Calculation of Weighted Average Risk Assets for Credit
• Evaluation of the credit administration process Risk Using the Standard Approach.
• Assessment of the accuracy in the implementation
of internal risk rating and the use of other monitoring The RWA for credit risk uses Basel II Standardized Approach
tools, and based on the rating results issued by rating agencies
• Effectiveness of work units and Bank officers recognized by OJK according to OJK Circular Letter No.
responsible for monitoring individual credit quality. 37/SEOJK.03/2016 regarding Rating Agencies and Ratings
Recognized by OJK. Ratings are only used to calculate RWA
In addition, the Bank uses an early detection system to credit risk for claims on Governments of Other Countries,
identify non-performing or potential non-performing loans Public Sector Entities, Multilateral Development Banks
so that early mitigation efforts can be carried towards and certain International Institutions, Banks, Securities
minimizing the impact of non-performing loans on the Companies and Other Financial Services Institutions, and
overall portfolio. Corporates.
Forward Looking Information Counterparty credit risk arises from Over the Counter
In calculating expected credit losses, the Bank considers (OTC) derivative transactions and repo/reserve repo
the macroeconomic forecast, and determines a weighted transactions, both on the trading book and the banking
probability for the possibility of macro scenarios. Various book. The standardized approach set by the regulator is
macroeconomic variables (MEV) are used in modeling used to calculate credit risk of capital adequacy ratio for
PSAK 109 based on the results of statistical analysis of the any exposures that cause counterparty credit risk.
suitability of the MEV using historical data for modeling
impairment. Calculation of expected credit losses and Determination of credit limits related to counterparty
macroeconomic forecasts are periodically reviewed by the credit risks are adjusted in accordance with the needs of
Bank. the counterparty, the Bank’s risk appetite, and applicable
regulations such as POJK No.32/POJK.03/2018 and POJK
Policies Related to Wrong Way Risk Exposure No.38/POJK.03/2019 regarding Maximum Lending Limits
To anticipate wrong way risk exposure due to market prices and Large Fund Provisions for Commercial Banks.
progressing in an adverse direction, BCA adds a capital
charge for the weighted exposure of the Credit Valuation
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Credit Risk Mitigation are determined by two independent parties, namely the
The main collateral accepted for credit risk mitigation is business development side and the credit risk analysis unit.
solid collateral in the form of cash collateral and/or land In addition, to mitigate possible credit risks, BCA’s loan
and buildings. These types of collateral have relatively high portfolio is well diversified, both by credit category and by
liquidity value and/or have a fixed presence (not mobile) industry/economic sector.
so that they can be effectively liquidated if the debtor’s/
debtor group’s loan falls into the delinquent category. III.B Disclosure of Market Risk Exposure and
Implementation of Market Risk Management
The collateral assessment is generally carried out by an
independent appraiser and if no independent appraiser is Market Risk Management Organization
available at the location of the collateral, the assessment The Board of Commissioners and the Board of Directors are
will be conducted by internal appraisal staff who are not responsible for ensuring that the implementation of market
involved in the credit approval process. To monitor the risk management aligns with the strategic objectives, scale,
physical collateral pledged by the debtor to BCA, the business characteristics, and market risk profile that could
collateral is periodically reviewed. impact the Bank’s capital adequacy. They also ensure that
market risk management is integrated with other risks,
The main guarantors/warrant providers are analyzed when enabling the overall risk profile of the Bank to be managed
processing credit, and creditworthiness is determined by effectively.
applying the “Four Eyes Principle” whereby credit decisions
The Board of Directors delegates its authority and responsibility to the parties listed below:
Party Authority and Responsibility
Asset Liability Committee Establish policies and foreign exchange and interest rate risk.
(ALCO)
Risk Management Division Support ALCO in monitoring and measuring exchange rate and interest rate risks.
Treasury Division Manage foreign exchange and interest rate operations in the Bank’s trading book, including:
- Responsible for maintaining the Net Open Position (NOP) and mitigating interest rate risks
in the trading book, ensuring the Bank complies with Bank Indonesia regulations regarding
NOP.
- Responsible for managing the operations of trading securities and foreign exchange
transactions to meet customer needs and/or generate income.
Regional Offices and Branches Responsible for managing foreign exchange transactions within their respective regions/
branches according to the established limits. In principle, foreign exchange transactions in
regions/branches are covered by the Treasury Division. Limits for each region/branch are set
based on operational needs for managing foreign exchange transactions.
The calculation of market risk for determining BCA’s capital requirements uses the standardized method from the Financial
Services Authority (OJK), referring to SEOJK No. 23/SEOJK.03/2022 dated December 7, 2022, regarding the Calculation of
Risk-Weighted Assets for Market Risk for Commercial Banks, which came into effect on January 1, 2024.
Trading Book and Banking Book Portfolio Management
Management of portfolio exposure to interest rate risk (trading book) and foreign exchange risk is conducted by setting and
monitoring the use of Nominal Limits (Securities, Net Open Position), Value at Risk Limits (VAR), and Stop Loss Limits. The
valuation method is based on close out prices or market price quotations from independent sources, including the following:
• Indonesia Bond Pricing Agency (IBPA)
• Bloomberg Generic & Value (BGN & VAL)
• Exchange prices
• Dealer screen prices
• The most conservative prices quoted by at least two brokers and/or market makers
• In the event that market prices from independent sources are not available, prices will be set based on the yield curve.
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Market Risk Measurement III.C. Disclosure of Operational Risk Exposures
Market risk monitoring (exchange rates and interest rates) and Implementation of Operational Risk
is carried out daily using Value at Risk indicators, which are Management
measured based on a full valuation historical method using
a 250-day window of data with a 99% confidence level. For Operational Risk Management Organization
the calculation of minimum Capital Adequacy Ratio (CAR), The bank-wide implementation of Operational Risk
market risk is calculated based on the standardized method Managementl refers to the three lines model, involving
set by OJK. the Board of Commissioners and Board of Directors,
Risk Management Committee, Internal Audit Division
Scope of Trading and Banking Book Portfolios Accounted (DAI), Risk Management Division (MRK), Operation
for in Capital Adequacy Ratio Strategy & Development Group (GPOL), as well as the
The following is portfolio coverage included in the CAR risk owner (business units and supporting units). This
calculations: includes the Information Technology Security Group
• Exchange rate risk based on the trading and banking (ISG), which is responsible for protecting and securing
books. Exchange rate risks can arise from foreign the Bank’s information assets, as well as ensuring that the
exchange transactions Today (TOD), Tomorrow (TOM), Bank’s information security governance is conducted in
Spot, Forward, Swap, Domestic Non-Delivery Forward accordance with the policies established.
(DNDF) and Option (Structured Product).
• Interest rate risk based on the trading book. Interest Mechanism to Identify and Measure Operational Risk
rate risk can arise from securities, Forward, and Swap The Bank implements the Risk and Control Self-Assessment
transactions (RCSA) periodically across all branches, regional offices,
• Equity risk (for subsidiaries) based on the trading book. and head office work units. RCSA serves as a tool for work
Equity risk can arise from equity trading transactions units to identify, measure, monitor, and control risks with
that may be carried out by subsidiaries. the aim of enhancing a culture of risk awareness among
employees in their daily activities.
Interest Rate Risk in the Banking Book (IRRBB)
Interest Rate Risk in the Banking Book (IRRBB) occurs as a In addition to RCSA, the Bank also implements the Loss
result of market interest rate movements that are against Event Database (LED) and Key Risk Indicator (KRI). LED aims
the Bank’s position or transactions, and which may affect to document and analyze operational incidents that have
both the Bank’s interest income and the economic capital occurred and may result in losses for the Bank. It serves
value. To measure the IRRBB, the Bank uses a gap report as a database for operational losses used to calculate the
(repricing gap) that maps its interest rate sensitive assets capital charge for operational risk and as a tool to monitor
and liabilities within a certain period. Mapping is conducted operational incidents that require follow-up actions.
based on the remaining maturity date for any instrument
with a fixed interest rate or on the remaining time up to KRI provides early warning signs of potential increases in
the next interest rate adjustment for any instrument with operational risk in a work unit to the relevant authorities. It
a floating rate. The Bank uses an earning approach and also functions as a data source to identify weak processes,
economic value approach to measure interest rate risk. procedures, and controls. All branches, regional offices,
Monitoring and measurement of interest rate risk exposure and head office work units assessed to have significant
on the banking book is submitted to the Board of Directors/ operational risks have implemented KRI.
ALCO on a monthly basis.
The implementation of RCSA, LED, and KRI methodologies
Anticipation of Market Risks on Foreign Currency and is facilitated using the Operational Risk Management
Securities Transactions Information System (ORMIS) application. To monitor the
The steps taken to anticipate market risk for transactions results of operational risk management implementation on
associated with exchange rate and interest rate risk are ORMIS and the execution of the Risk Awareness Program, an
to establish and control market risk limits such as Value at interactive dashboard is available for access by each work
Risk (VaR) Limit, Nominal Limit, and Stop Loss Limit, as well unit.
as conducting stress tests in measuring risk. In an effort
to support the Bank Indonesia program on the Deepening
of Financial Market Transactions, the Bank conducts risk
management assessments and prepares policies and
procedures for the development of various transactions.
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Mechanism for Operational Risk Mitigation Additionally, to anticipate risks related to workplace
To mitigate operational risks, the Bank: activities, BCA implements an Occupational Health & Safety
• Implements regular Risk Awareness Programs Management System (SMK3) that adheres to applicable
at all work units both at the branches and at the regulations. This includes preventive measures against
headquarters to promote risk awareness culture, and workplace accidents and occupational illnesses, fostering
thereby strengthen mitigation of operational risks that a safe, efficient, and productive work environment.
may impact all BCA stakeholders.
• Sets and consistently updates policies, procedures, and New Product and Activity Risk Management
limits in accordance with organizational development, In developing new products (including services and/or
regulations, and prevailing laws. offerings for customer needs), the Bank considers the
• Has a Business Continuity Management. following aspects:
• Has an internal control system, the implementation • There are systems and procedures governing the
of which takes into account the dual control and issuance of products/activities and the provision
segregation of duty to reduce fraud potential. of supporting information technology systems in
accordance with regulatory provisions, including:
To maintain security in conducting digital banking - POJK No. 21 of 2023 concerning Digital Services
transactions, BCA has implemented cyber risk management by Commercial Banks.
with reference to the Bank’s strategy and direction from the - POJK No. 13/POJK.03/2021 concerning the
regulators. BCA also regularly socializes security awareness Provision of Products by Commercial Banks.
routinely to employees in the form of e-learning, videos, - PADG No. 24/7/PADG/2022 concerning the
infographics, e-mail phishing simulations and customer Provision of Payment Systems by Payment Service
awareness through content on BCA’s social media and Providers and Operators.
customer gathering events. • All plans for Bank product development must receive
approval from the Board of Directors and be reported
Other measures taken to minimize operational risks related to the Board of Commissioners as part of the active
to information technology systems and ensure the reliability, supervision by both boards.
security, availability, and timeliness of the information • Product development goes through several
technology systems used include: stages, including planning, development, testing,
• Availability of a Disaster Recovery Center (DRC) implementation, and evaluation.
• Implementing security systems in accordance with • Every product development undergoes a risk
national and international system standards. assessment and materiality evaluation of the increased
• Implementing systems/technology and equipment risk exposure from the Bank’s previously developed
for monitoring, detecting, and mitigating disruptions/ products.
system failures, as well as internal and external fraud • Each Bank product must have an adequate accounting
threats (cyber attacks) on BCA’s banking system. recording method in compliance with applicable
• Conducting vendor due diligence to mitigate potential regulations.
cybersecurity risks from third parties. • Implemented Bank products are evaluated to ensure
• Implementing various strategic initiatives to ensure they meet established targets and have adequate risk
optimal availability of BCA’s infrastructure and mitigation measures.
services, which can accommodate BCA’s business • The Bank ensures transparency of information to
targets. customers regarding the products offered.
To ensure BCA’s business continuity during disruptions, BCA III.D. Disclosure of Liquidity Risk Exposure and
has developed a Business Continuity Plan (BCP) to enable Implementation of Liquidity Risk Management
rapid recovery, minimizing and anticipating the impact of
disruptions through measures such as: Liquidity Risk Management Organization
• Measuring the readiness levels of the Head Office, The Board of Commissioners and the Board of Directors
Regional Offices, and Branch Offices by conducting are responsible for ensuring that liquidity risk management
assessment and awareness programs. is conducted in accordance with the strategic objectives,
• Ensuring the proper implementation of fire drill testing scale, business characteristics, and liquidity risk profile
in all Head Office, Regional Office, and Branch Office of the Bank, including the integration of liquidity risk
buildings, including the adequacy of fire protection management with other risks that may impact the Bank’s
facilities (such as fire alarms, water sprinklers, hydrants, liquidity position. The authority and responsibility of Board
paging systems, and more) of Directors are delegated to parties below:
• Ensuring the readiness of the Secondary Work Place
(SWP) as an alternative workspace to continue
operations.
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Party Authority and Responsibility
Asset Liability Committee Establish policies and strategy for liquidity.
(ALCO)
Risk Management Division Support ALCO in monitoring and measuring liquidity risk.
Treasury Division Manage the overall operational liquidity of the Bank, namely:
- Responsible for maintaining Minimum Reserves Requirement (GWM) and ensuring the
Bank’s compliance with Bank Indonesia regulations on GWM.
- Responsible for managing secondary reserves as part of liquidity management, and to
identify operational opportunities to generate income for the Bank.
Regional Offices and Branches Responsible for managing liquidity risk at respective regional offices and branches.
Funding Strategy Stress Testing Liquidity Risk
The funding strategy consists of strategies to diversify Stress testing for liquidity risk is a test that runs selected
funding sources and maturity in relation to the Bank’s scenarios of the Bank’s ability to meet liquidity needs
characteristics and business plan. BCA has identified and during a crisis. Stress tests are conducted based on a
reviewed the primary factors that affect the ability of the bank-specific stress scenario and a general market stress
Bank to obtain funds, including identifying and monitoring scenario. Stress testing for specific stress scenarios within
alternative funding sources that can strengthen its capacity the Bank is carried out at least once every three months,
to withstand crisis conditions. while stress scenarios with regard to the market are carried
out at least once a year.
Liquidity Risk Mitigation
To mitigate liquidity risk, the Bank has established guidelines Stress testing is performed by considering several factors,
to measure and mitigate liquidity risk, including limits on including events that have or have the potential to cause
Secondary Reserves, Interbank Overnight Borrowing limits, a liquidity crisis, duration (duration of events or stress
Liquidity Coverage Ratios, and the Net Stable Funding Ratio. conditions), and the severity of problems caused by these
The Bank has also identified and developed Early Warning events. The results of the liquidity risk stress test can then be
Indicators and implemented a multi-level Contingency used as input in reviewing policies and strategies for liquidity
Funding Plan to mitigate risk. risk management, the composition of assets, liabilities and/
or administrative accounts, contingency funding plans, and
Measurement and Control of Liquidity Risk setting limits.
BCA regularly and comprehensively measures liquidity risk
by monitoring cash flow projections, profiling, liquidity Contingency Funding Plan
ratios, and stress test scenarios. Stress testing is conducted The Bank has formulated a contingency funding plan as a
based on the Bank’s specific stress scenarios and general plan of action in order to deal with worsening bank liquidity
market stress scenarios. Liquidity risk is monitored to conditions. The action plan is formulated in several levels,
facilitate timely mitigation and to inform adjustments to the namely level one (normal), level two (temporary liquidity
liquidity risk management strategy as soon as any increase squeeze) and level three (name crisis).
in liquidity risk occurs.
The action plan at each level is adjusted in accordance with
The following activities are included in the liquidity risk the conditions during the crisis and the priority of quickly
monitoring process: tapping liquidity at a reasonable cost. Contingency funding
• Monitoring of liquidity risk takes into account both plans must be aligned with the results of stress tests,
internal and external early warning indicators which evaluated, updated, and tested regularly to ensure a level
have the potential to increase liquidity risk of reliability.
• Monitoring funds and liquidity positions that include:
- Interest rate strategy, investment alternatives
for fund owners, changes in customer behavior,
changes in foreign exchange and interest rates
offered by a primary competitor that could impact
the fund structure, fund volatility, and core funds.
These changes are monitored on a regular basis
(daily, monthly, and annually).
- Daily monitoring of the liquidity position in respect
to Minimum Reserves Requirement (GWM),
secondary reserves, and liquidity ratio.
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III.E. Disclosure of Legal Risk Exposure and III.F. Disclosure of Strategic Risk Exposure
Implementation of Legal Risk Management and Implementation of Strategic Risk
Management
Legal risk refers to risks due to lawsuits and/or juridical
vulnerabilities, among others due to the occurrence of Strategic risk are risks that are caused by inaccurate
lawsuits in the litigation process arising from third party decision making, and/or implementation of a strategic plan,
claims against the Bank and claims from Bank against third and/or the inability to anticipate changes in the business
parties, weak commitments made by the Bank, and the environment.
absence of and/or alterations to laws that cause a Bank
transaction to be incompatible with prevailing provisions, Organization of Strategic Risk Management
which cause a transaction carried out by the Bank to The Board of Directors provides direction for the preparation
subsequently be incompatible with prevailing regulations. of strategic plans and business initiatives, as outlined in the
blueprint of the three-year Bank Business Plan (RBB) with
Organization of Legal Risk Management the objective to control the direction of business activities
In order to minimize legal risk, BCA has established a Legal and manage the potential for strategic risk.
Group at the head office and legal units in regional offices
to support BCA in carrying out banking activities and Furthermore, the Board of Commissioners reviews and
mitigating legal risk. The Legal Group also has the duty and approves the RBB. The Corporate Strategy and Planning
responsibility of supporting and safeguarding the legal Division supports the formulation/preparation of the RBB,
interests of BCA with respect to the prevailing laws and monitors its realization and reevaluates the business targets.
regulations as it carries out business activities.
Policies to Identify and Respond to Changes in the Business
Legal Risk Control Environment
BCA mitigates legal risks through the following: In order to identify and respond to changes in the business
• Establishing a Legal Risk Management Policy and environment, both external and internal, BCA conducts the
internal regulations to govern the organizational following:
structure and job description for the Legal Group, and • Regular reviews of the Bank’s Business Plan in
formulating the standardization of legal documents. accordance with business developments and the
• Holding legal communication forums to leverage the state of the Indonesian economy. Should there be a
competency of legal staff. need to refresh strategic plans and business initiatives
• Socializing the impact of new regulations applicable in response to changing business dynamics, the Bank
to BCA banking activities and various modus operandi may formulate revisions to the Bank’s Business Plan in
of frauds and other banking crimes as well as the legal accordance with prevailing regulations.
guidelines for prosecutions to branches, regional • Setting targets for business aspects that take into
offices, and related work units at head office. account the current economic situation and forecasts
• Performing legal defense of civil and criminal for the coming year with an emphasis on the prudential
proceedings involving the Bank in court and the principle, with respect to the capacity/capability of
monitoring of the progress of such cases. BCA and competition trends from other banks and
• Formulating a credit security strategy plan (in non-banks.
collaboration with other work units, including the
Credit Recovery Group) in connection with the issues BCA’s strategy formulation takes into account Bank
relating to bad loans. Indonesia and OJK regulations and other relevant
• Registering BCA assets, including Intellectual Property provisions, as well as the potential impact of strategic risk
Rights for BCA’s products and services, as well as on the Bank’s capital and the Capital Adequacy Ratio (CAR)
a right to land and buildings owned by BCA, with the based on risk appetite, risk tolerance and consideration of
relevant authority. BCA’s capabilities.
• Monitoring and taking legal action against violations
on BCA’s assets, including infringement of intellectual Measurement of the Bank’s Business Plan
property rights belonging to BCA. To measure progress in realizing its business plan, BCA
• Monitoring and analyzing cases faced by BCA currently conducts the following activities:
on trial. • Identifying, measuring, and monitoring strategic risk,
• Identifying, monitoring, analyzing, and quantifying as well as compiling quarterly strategic risk profile
potential losses that may arise in relation to legal cases. reports
• Compiling reports on the realization of the Bank’s
Business Plan, which includes financial performance
(actual vs budget), realization of the Bank’s work
program, and realization of branch network
development/changes.
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III.G. Disclosure of Reputational Risk Exposure Reputational Risk Management in Times of Crisis
and Implementation of Reputational Risk BCA has put in place crisis management to handle
Management reputational risks during crises, which covers:
• Crisis Management Policy
Reputational risk can occur as a result of reduced levels of The strategy to manage crises or events that disrupt
trust from stakeholders triggered by negative perceptions service operations and/or are detrimental to BCA’s
of the Bank. reputation.
• A Crisis Management Team
Organization of Reputational Risk Management Responsible for coordinating crisis management
BCA is committed to manage reputational risk. In processes, including the recovery process.
managing customer complaints, BCA has established the • Crisis Communication Management
Contact Center & Digital Services Division that specifically Actions to coordinate crisis communication to BCA’s
deals with customer complaints 24 hours a day, 7 days a internal and external parties, including the mass media.
week by phone, mail, e-mail, WhatsApp (WA), web chat at The flow of communication protocols and person in
www.bca.co.id, the haloBCA application, and social media. charge for communication have been determined for
all stages of a crisis.
In handling customer complaints, the Contact Center & • Crisis Management Guidelines
Digital Services Division coordinates with relevant work Covers emergency response, customer transaction
units including Banking Transaction Business Support and services during a crisis, and emergency conditions.
Consumer Finance Division to respond to events that could • Business Continuity Plan and Disaster Recovery Plan
potentially create reputational risk. Developed to minimize disruption and speed up the
recovery process in the event of disasters.
Meanwhile, for managing negative publicity, BCA has • Secondary Operation Center
a Corporate Communication work unit responsible for A backup workplace where critical work units can
monitoring and addressing negative news in the mass safeguard BCA’s business continuity.
media. • A Back Up System to prevent high-risk business
failures.
Policies and Mechanisms of Reputational Risk Control
In managing reputational risk, BCA has implemented the III.H. Disclosure of Compliance Risk Exposure
following: and Implementation of Compliance Risk
• Establishing provisions for handling customer Management
complaints that clearly set the policies, procedures,
and work units that monitor and report customer Compliance risk arises from the Bank’s failure to comply
complaints, including reporting to regulators. with and/or apply prevailing laws and regulations.
• Monitoring customer complaints and reporting them
regularly to the heads of respective work units and to Organization of Compliance Risk Management
the Board of Directors. Customer complaint reports are In minimizing potential compliance risk, all lines of the
analyzed and used to support the Bank in developing a organization are responsible for the management of
systematic complaint handling process compliance risk in all bank activities. The Director that
• Infrastructure development that includes the oversees the Compliance Function, assisted by the
implementation of appropriate software and Compliance Division (DCP) which is independent from other
hardware, as well as the development of better work working units, is responsible for ensuring compliance and
management and procedures. The development of minimizing compliance risk by formulating compliance risk
an information management system infrastructure management policies and procedures as well as monitoring
facilitates monitoring and supports the speed and implementation.
work quality of the organization in monitoring and
responding to customer complaints. The supervisory results of the Director in charge of the
• Regularly monitor negative publicity and coordinate Compliance Function submits a quarterly supervisory
across work units to handle negative news. report to the President Director, with a copy to the Board
of Commissioners. In addition, DCP is also responsible for
the implementation of the Bank’s Anti-Money Laundering,
Counter Terrorism Financing Prevention and Prevention
of Funding for the Proliferation of Weapons of Mass
Destruction (AML, CTF and WMD) at BCA, including the
assessment of risk assessment on the implementation of
AML, CTF and WMD, in accordance with regulations from
the regulators.
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The work units at head office and branches are the In order to improve the effectiveness of internal controls,
frontline in ensuring all business activities are carried out in the MRK, Internal Audit Division, and DCP coordinates
accordance with the relevant regulations. through regular meetings and intensive communication.
Problems associated with internal compliance control,
Risk Management Strategies Associated with Compliance particularly potential compliance risks, are assessed and
Risk the necessary follow on measures are formulated.
BCA is strongly committed to comply with prevailing
laws and regulations and actively takes steps to correct Implementation of Integrated Risk Management
any weaknesses that occur. This is in line with the Bank’s BCA has implemented Integrated Risk Management with
compliance risk management strategy which contains reference to POJK No.17/POJK.03/2014 dated 18 November
policies to always comply with the applicable regulations, 2014 and OJK Circular Letter No.14/SEOJK.03/2015 of
foremost through proactive prevention (ex-ante) in order 25 May 2015 on the Implementation of Integrated Risk
to minimize the occurrence of any violations, and through Management for Financial Conglomerates.
curative action (ex-post) as corrective measures.
BCA as the Main Entity of the BCA FC implements integrated
Compliance Risk Monitoring and Control risk management that is formulated to mitigate the risks
To control and minimize compliance risks, BCA has taken faced by BCA as well as the members of the FC. BCA has
the following steps: monitored and managed 10 (ten) types of risks, consisting
• Identifying sources of compliance risk. of 8 (eight) risks faced by the Bank, namely credit, market,
• Conducting gap analysis, analyzing the impact of new liquidity, operational, legal, reputation, strategic, and
regulations on the Bank’s operations, and proposing compliance risks, in addition to 2 (two) other risks, namely
adjustments to manuals, policies, and internal intra-group transaction risk and insurance risk.
procedures.
• Regularly measuring and monitoring compliance risk In accordance with Financial Services Authority Regulation
and submitting the results to the Risk Management No. 26/POJK.03/2015, dated 4 December 2015 regarding
Division (MRK). the Obligation of Minimum Integrated Capital for
• Socializing regulations and consulting on their Financial Conglomerates, BCA and the BCA FC members
implementation. have maintained adequate minimum integrated capital
• Conducting compliance tests on the implementation (Integrated KPMM Ratio) on December 2024 and exceed
of provisions. the minimum stipulated requirement.
• Developing a compliance matrix diary as a monitoring
tool to comply with reporting obligations to regulators. BCA controls and manages the risk exposure of the financial
• Making use of information technology, otherwise conglomerate by referring to the 4 (four) main pillars in
known as Regulatory Technology (RegTech), to accordance with OJK regulations, namely:
more efficiently and effectively manage regulatory 1. Active supervision by the Board of Directors and Board
provisions. of Commissioners from the Main Entity over the BCA
• Monitoring suspicious financial transactions by using Financial Conglomerate.
the STIM (Suspicious Transaction Identification Model) 2. Adequacy of policies, procedures, and establishment
web-based application and continuously developing a of Integrated Risk Management Limits.
system of applications that uses the latest technology 3. Adequacy of integrated risk identification,
and updated parameters to detect suspicious measurement, monitoring, and control processes, as
transactions. well as the Integrated Risk Management Information
• Screening and monitoring customer data and System.
transactions related to the List of Terrorists and 4. Comprehensive internal control system for the
Terrorist Organizations (DTTOT) and the List of Funding implementation of Integrated Risk Management.
for the Proliferation of Weapons of Mass Destruction
(DPPSPM), the United Nations (UN) List, dan The In implementing Integrated Risk Management, BCA as the
Office of Foreign Assets Control (OFAC) List issued Main Entity has:
by the relevant authorities when conducting business • Appointed a Director to oversee the integrated risk
relations (account opening or adding other facilities), management function.
transactions, and when changes occur to the list. • Established the Integrated Risk Management
Committee.
• Adjusted the organizational structure of the Risk
Management Division to include an integrated risk
management function.
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
• Reported Main Entity and the Members of BCA FC to Based on the results of the integrated risk assessment,
the OJK. the BCA FC capital is adequate to anticipate potential
• Conducted socialization and coordination with BCA FC losses that may emerge/be faced by BCA FC in running its
members. business.
• Delivered the Integrated Risk Profile Report and the
Integrated Capital Adequacy Report on a semi-annual BCA’s subsidiaries within the scope of implementing
basis. integrated risk management are PT BCA Finance, BCA
• Formulated several policies related to the Finance Limited, PT Bank BCA Syariah, PT BCA Sekuritas, PT
implementation of integrated risk management, such Asuransi Umum BCA (BCA Insurance), PT Asuransi Jiwa BCA
as: (BCA Life), PT Central Capital Venture (CCV) and PT Bank
- Basic Integrated Risk Management Policy. Digital BCA.
- Formulation and submission of the Integrated Risk
Profile Report (LPRT). Inter-Group Transaction Risk
- Integrated Minimum Capital Adequacy Policy for BCA monitors Intra-Group Transaction Risks to ensure that
BCA FC. such transactions are conducted in accordance with the
- Intra-Group Transaction Risk Management Policy. principles of fairness, common business practices, and
- Integrated Compliance Risk Management Policy. applicable regulations, and are well-documented. Based on
- Integrated Risk Limit Policy. assessment results, the impact of Intra-Group Transaction
- BCA FC Integrated Business Continuity Policy. Risks on the overall performance of the BCA FC is non-
• Reviewed the implementation of integrated risk significant.
management and stress tests (at BCA and its
subsidiaries) to assess the resilience of capital Insurance Risk
(solvency) and liquidity on a regular basis. BCA monitors Insurance Risks due to the presence of FC
• Reviewed proposals for new business lines that are members operating in the insurance sector. Based on the
strategic in nature and have a significant impact on the assessment results, the impact of Insurance Risks on the
Financial Conglomerate Risk exposure. overall performance of the BCA FC is not significant.
• Developed an integrated risk management information
system which is aligned with the characteristics,
activities, and the complexity of BCA’s business
activities which is regularly reviewed in line with BCA’s
needs and the regulator’s requirements.
Each member of the FC has implemented risk management as described below:
Pillar Implementation of Risk Management at Subsidiaries
Active supervision by the • The Board of Commissioners actively oversees the performance and decisions of the Board
Board of Directors and Board of of Directors.
Commissioners • The Board of Directors formulates, approves, and supervises the implementation of internal
company policy.
• Risk management implementation is reported to the Board of Directors, the Board of
Commissioners, and the regulators through regular reports.
• The organizational structure has been established in accordance with regulatory
requirements (including committees at the Board of Directors and Board of Commissioners
level).
Adequacy of policies and • Policies, procedures and determination of limits are adequate, have been socialized
procedures, and determination internally, and are regularly reviewed.
of limits • Have established a Basic Risk Management Policy (KDMR) as well as its derivative policies
as per regulatory provisions.
• Have established a risk appetite and risk tolerance levels as well as limits for the risks being
managed.
Identification, measurement, • Have conducted the following processes:
monitoring & mitigation - Identification (including through the risk management information system) of all products
processes, and the risk and transactions.
management information - Measurement in accordance with types, characteristics and complexity.
system - Monitoring alongside related work units.
- Mitigation in accordance with the risk exposure/level.
• Implementation of risk management processes is regularly set forth in risk profile report,
risk monitoring report, limit review report, and other reports.
Comprehensive internal control Implementation of internal control /internal audit/review of the effectiveness of policy and
system procedure implementation are carried out independently on a regular basis.
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Risk Management Table
1. General - Key Metrics - Bank as Consolidated with Subsidiaries
No. Description
Available Capital (amounts)
1 Common Equity Tier 1 (CET1)
2 Tier 1
3 Total Capital
Risk-Weighted Assets (amounts)
4 Total Risk-Weighted Assets (RWA)
Risk-based Capital Ratios as a percentage of RWA
5 CET1 Ratio (%)
6 Tier 1 Ratio (%)
7 Total Capital Ratio (%)
Additional CET1 buffer requirements as a percentage of RWA
8 Capital Conservation Buffer requirement (2.5% from RWA) (%)
9 Countercyclical Buffer Requirement (0 - 2.5% from RWA) (%)
10 Bank G-SIB and/or D-SIB additional requirements (1% - 2.5%) (%)
11 Total of bank CET1 specific buffer requirements (%) (Row 8 + Row 9 + Row 10)
12 CET1 available after meeting the bank’s minimum capital requirements (%)
Basel III Leverage Ratio
13 Total Basel III leverage ratio exposure measure
14 Basel III leverage ratio (%) (including the impact of any applicable temporary exemption of central bank reserves)
14b Basel III leverage ratio (%) (excluding the impact of any applicable temporary exemption of central bank reserves)
14c Basel III leverage ratio (%) (including the impact of any applicable temporary exemption of central bank reserves) incorporating
mean values for SFT assets
14d Basel III leverage ratio (%) (excluding the impact of any applicable temporary exemption of central bank reserves) incorporating
mean values for SFT assets
Liquidity Coverage Ratio (LCR)
15 Total High-Quality Liquid Assets (HQLA)
16 Total net cash outflow
17 LCR Ratio (%)
Net Stable Funding Ratio (NSFR)
18 Total Available Stable Funding
19 Total Required Stable Funding
20 NSFR Ratio (%)
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
(in million Rupiah)
Period of
31 December 2024 30 September 2024 30 June 2024 31 March 2024 31 December 2023
255,311,302 247,507,639 232,321,451 218,853,959 233,701,580
255,311,302 247,507,639 232,321,451 218,853,959 233,701,580
265,198,025 256,900,576 241,524,434 227,999,046 242,694,176
910,183,696 881,371,842 872,998,220 865,146,430 825,610,552
28.05% 28.08% 26.61% 25.30% 28.31%
28.05% 28.08% 26.61% 25.30% 28.31%
29.14% 29.15% 27.67% 26.36% 29.40%
2.500% 2.500% 2.500% 2.500% 2.500%
0.000% 0.000% 0.000% 0.000% 0.000%
2.500% 2.500% 2.500% 2.500% 2.500%
5.000% 5.000% 5.000% 5.000% 5.000%
19.15% 19.16% 17.68% 16.36% 19.41%
1,587,197,376 1,559,829,955 1,567,707,829 1,583,239,404 1,556,632,983
16.09% 15.87% 14.82% 13.82% 15.01%
16.09% 15.87% 14.82% 13.82% 15.01%
15.71% 15.38% 14.64% 13.71% 14.63%
15.71% 15.38% 14.64% 13.71% 14.63%
455,814,631 469,404,999 473,723,237 500,317,685 522,354,163
138,375,584 137,278,342 143,001,958 147,748,856 144,680,517
329.40% 341.94% 331.27% 338.63% 361.04%
1,223,567,547 1,213,925,492 1,195,030,995 1,177,794,273 1,174,984,869
777,730,080 742,232,389 728,087,933 725,828,147 696,803,168
157.33% 163.55% 164.13% 162.27% 168.63%
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
2. General - Difference between consolidated scope and mapping in the financial statement in
accordance with financial accounting standards by risk categories as reported by regulatory
for risk categories (LI1) - as of December 31, 2024
a b
Carrying values as Carrying values
reported in published under scope of
financial statements regulatory consolidation
Aset
Cash 29,315,878 29,315,815
Placement with Bank Indonesia 45,054,681 45,054,681
Placement with other banks 11,167,894 10,722,300
Spot and derivative/forward receivables 221,208 221,208
Securities 400,007,735 395,066,432
Securities sold under repurchase agreement (repo) 1,222,258 1,222,258
Claims on securities bought under reverse repo 1,450,603 1,450,603
Acceptance receivables 10,061,742 10,061,742
Loans and financing 911,109,701 911,109,117
Sharia financing 10,717,227 10,717,227
Equity investment 672,824 1,822,001
Other financial assets 13,790,725 13,153,630
Impairment on financial assets -/- (34,521,992) (34,484,038)
Intangible assets 2,722,675 2,668,116
Accumulated amortization on intangible asset -/- (917,036) (884,218)
Fixed assets and equipment 38,150,330 37,949,889
Accumulated depreciation on fixed assets and equipment -/- (9,899,706) (9,766,505)
Non earning assets 2,127,603 2,127,603
Other assets 16,846,978 16,720,366
Total Assets 1,449,301,328 1,444,248,227
Liabilities
Current account 361,883,711 361,890,019
Saving account 562,093,704 562,093,704
Time deposit 209,634,748 209,759,748
Electronic money 1,369,505 1,369,505
Liabilities to Bank Indonesia 577 577
Liabilities to other banks 3,656,301 3,656,301
Spot and derivative/forward liabilities 257,613 257,613
Liabilities on securities sold under repurchase agreement (repo) 1,330,996 1,330,996
Acceptance liabilities 4,651,955 4,651,955
Issued securities 500,000 500,000
Loans/financing received 2,241,939 2,241,939
Margin deposit 275,893 275,893
Interbranch liabilities - -
Other liabilities 38,569,299 34,421,528
Non-controlling interest 194,466 113,050
Total Liabilities 1,186,660,707 1,182,562,828
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
(in million Rupiah)
c d e f g
Carrying values of items
Not subject to capital
Subject to the
Subject to credit risk Subject to counterparty Subject to the market requirements or subject
securitization
framework credit risk framework risk framework to deduction from
framework
capital
29,315,815 - - 1,643,053 -
45,054,681 - - 7,583,664 -
10,722,300 - - 10,510,821 -
- 221,208 - - -
395,066,432 - - 36,314,628 -
- 1,222,258 - - -
- 1,450,603 - - -
10,061,742 - - 5,946,835 -
911,109,117 - - 43,395,106 -
10,717,227 - - - -
668,396 - - - 1,153,605
13,153,630 - - 488,527 -
(34,484,038) - - (4,192,546) -
- - - - 2,668,116
- - - - (884,218)
37,949,889 - - 8,285 -
(9,766,505) - - (6,002) -
2,127,603 - - 24,511 -
11,334,907 - - 3,900,107 5,385,459
1,433,031,196 2,894,069 - 105,616,989 8,322,962
- - - 40,988,321 361,890,019
- - - 19,272,715 562,093,704
- - - 14,604,926 209,759,748
- - - - 1,369,505
- - - - 577
- - - 1,531,742 3,656,301
- - - - 257,613
- - - - 1,330,996
- - - 3,330,866 4,651,955
- - - - 500,000
- - - 295,605 2,241,939
- - - 97,209 275,893
- - - - -
- - - 5,651,657 34,421,528
- - - - 113,050
- - - 85,773,041 1,182,562,828
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3. General - Differences between carrying value in accordance with Indonesian Financial Accounting Standards with exposure value
in accordance with Financial Services Authority (LI2) - as of December 31, 2024
(in million Rupiah)
a b c d e
Item subject to :
Total Counterparty
Credit risk Securitization Market risk
credit risk
framework framework framework
framework
1 Asset carrying value amount under 1,444,248,227 1,433,031,196 2,894,069 - 105,616,989
scope of regulatory consolidation
(as per template LI1)
2 Liabilities carrying value amount under 1,182,562,828 - - - 85,773,041
regulatory scope of consolidation
(as per template LI1)
3 Total net amount under regulatory 261,685,399 1,433,031,196 2,894,069 - 19,843,948
scope of consolidation
4 Off-balance sheet amounts 450,823,120 152,207,976 - - 587,745
5 Differences in valuations - - - - -
6 Differences due to different netting - - - - -
rules, other than those already included
in row 2
7 Differences due to consideration of - - - - -
provisions
8 Differences due to prudential filters - - - - -
Exposure amounts considered for 261,685,399 1,433,031,196 2,894,069 - 19,843,948
regulatory purposes
4. General - Explanations of differences between accounting and regulatory exposure amounts (LIA)
Difference between carrying value as reported in published financial statements and carrying values under scope of regulatory
consolidation because of the Bank has insurance subsidiaries.
The Group measures fair values using the following hierarchy of methods:
• Level 1: inputs that are quoted prices (unadjusted) in active markets for identical instruments that the Group can access at the
measurement date;
• Level 2: inputs other than quoted prices included within level 1 that are observable either directly or indirectly. This category includes
instruments valued using: quoted market prices in active markets for similar instruments; quoted prices for identical or similar
instruments in markets that are not active; or other valuation techniques in which all significant inputs are directly or indirectly
observable from market data;
• Level 3: inputs that are unobservable. This category includes all instruments for which the valuation technique includes inputs not
based on observable data and the unobservable inputs have a significant effect on the instrument’s valuation. This category includes
instruments that are valued based on quoted prices for similar instruments for which significant unobservable adjustments or
assumptions are required to reflect differences between the instruments.
Fair values of financial assets and financial liabilities that are traded in active market are based on quoted market prices. For all other
financial instruments, the Bank determines fair values using valuation techniques.
Valuation techniques include net present value and discounted cash flow models, comparison with similar instruments for which market
observable prices exist and other valuation models. Assumptions and inputs used in valuation techniques include risk-free interest rates,
benchmark interest rate, credit spreads and other variables used in estimating discount rates, bond prices, foreign currency exchange
rates, and expected price volatilities and correlations.
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
5. Capital - Composition of Capital (CC1) - as of December 31, 2024
Amount
Reference from
(in million Rupiah)
No. Component Consolidated Statements
Consolidated of Financial Position
Common Equity Tier 1 Capital: Instruments and Reserves
1. Directly issued qualifying common share (and equivalent for non-joint 7,252,306 f
stock companies) capital plus related stock surplus
2. Retained earnings 242,640,813 i
3. Accumulated other comprehensive income (and other reserves) 15,585,243 h
4. Directly issued capital subject to phase out from CET1 (only applicable N/A
to non-joint stock companies)
5. Common share capital issued by subsidiaries and held by third parties -
(amount allowed in group CET1)
6. Common Equity Tier 1 capital before regulatory adjustments 265,478,362
Common Equity Tier 1 capital: Regulatory Adjustments
7. Prudential valuation adjustments -
8. Goodwill (net of related tax liability) (1,113,614) a
9. Other intangibles other than mortgage-servicing rights (670,284) c
(net of related tax liability)
10. Deferred tax assets that rely on future profitability excluding those N/A
arising from temporary differences (net of related tax liability)
11. Cash-flow hedge reserve N/A
12. Shortfall on provisions to expected losses N/A
13. Securitisation gain on sale (as set out in paragraph 562 of Basel II - k
framework)
14. Gains and losses due to changes in own credit risk on fair valued - j
liabilities
15. Defined-benefit pension fund net assets N/A
16. Investments in own shares (if not already netted off paid-in capital on N/A
reported balance sheet)
17. Reciprocal cross-holdings in common equity N/A
18. Investments in the capital of Banking, financial and insurance entities N/A
that are outside the scope of regulatory consolidation, net of eligible
short positions, where the Bank does not own more than 10% of the
issued share capital (amount above 10% threshold)
19. Significant investments in the common stock of Banking, financial N/A
and insurance entities that are outside the scope of regulatory
consolidation, net of eligible short positions (amount above 10%
threshold)
20. Mortgage servicing rights (amount above 10% threshold) - b
21. Deferred tax assets arising from temporary differences (amount above N/A
10% threshold, net of related tax liability)
22. Amount exceeding the 15% threshold
23. Significant investments in the common stock of financials N/A
24. Mortgage servicing rights N/A
25. Deferred tax assets arising from temporary differences N/A
26. National specific regulatory adjustments
a. Difference between allowance for possible losses and allowance -
for impairment losses on earning assets
b. Allowance for losses on non productive assets required to be (1,844,098)
provided
c. Deferred tax asset (5,385,459) d
d. Investments in shares of stock (1,153,605)
e. Shortage of capital on insurance subsidiary company -
f. Securitisation Exposure -
g. Other deduction factor of Common Equity Tier 1 -
27. Regulatory adjustments applied to Common Equity Tier 1 due to -
insufficient Additional Tier 1 and Tier 2 to cover deductions
28. Total regulatory adjustments to Common equity Tier 1 (10,167,060)
29. Common Equity Tier 1 capital (CET1) 255,311,302
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
5. Capital - Composition of Capital (CC1) - as of December 31, 2024
Amount
Reference from
(in million Rupiah)
No. Component Consolidated Statements
Consolidated of Financial Position
Additional Tier 1 capital: instruments
30. Directly issued qualifying Additional Tier 1 instruments plus related stock
surplus
31. Classified as equity under applicable accounting standards - g
32. Classified as liabilities under applicable accounting standards - e
33. Directly issued capital instruments subject to phase out from Additional N/A
Tier 1
34. Additional Tier 1 instruments (and CET1 instruments not included in -
row 5) issued by subsidiaries and held by third parties
(amount allowed in group AT1)
35. Instruments issued by subsidiaries subject to phase out N/A
36. Additional Tier 1 capital before regulatory adjustments -
Additional Tier 1 capital: regulatory adjustments
37. Investments in own Additional Tier 1 instruments N/A
38. Reciprocal cross-holdings in Additional Tier 1 instruments N/A
39. Investments in the capital of Banking, financial and insurance entities N/A
that are outside the scope of regulatory consolidation, net of eligible
short positions, where the Bank does not own more than 10% of
the issued common share capital of the entity (amount above 10%
threshold)
40. Significant investments in the capital of Banking, financial and insurance N/A
entities that are outside the scope of regulatory consolidation (net of
eligible short positions)
41. National specific regulatory adjustments
a. Investments in Instruments issued by the other bank that meet the -
criteria for inclusion in Additional Tier 1
42. Regulatory adjustments applied to Additional Tier 1 due to insufficient -
Tier 2 to cover deductions
43. Total regulatory adjustments to Additional Tier 1 capital -
44. Additional Tier 1 capital (AT1) -
45. Tier 1 capital (T1 = CET 1 + AT 1) 255,311,302
Tier 2 capital: instruments and provisions
46. Directly issued qualifying Tier 2 instruments plus related stock surplus 115,750
47. Directly issued capital instruments subject to phase out from N/A
Tier 2
48. Tier 2 instruments (and CET1 and AT1 instruments not included in rows 5 -
or 34) issued by subsidiaries and held by third parties (amount allowed in
group Tier 2)
49. Instruments issued by subsidiaries subject to phase out N/A
50. General allowance for losses on earning assets that must be calculated 9,770,973
with a maximum amount of 1.25% of RWA for Credit Risk
51. Tier 2 capital before regulatory adjustments 9,886,723
Tier 2 capital: regulatory adjustments
52. Investments in own Tier 2 instruments N/A
53. Reciprocal cross-holdings in Tier 2 instruments and other TLAC liabilities N/A
54. Investments in the other TLAC liabilities of banking, financial and N/A
insurance entities that are outside the scope of regulatory consolidation
and where the bank does not own more than 10% of the issued common
share capital of the entity: amount previously designated for the 5%
threshold but that no longer meets the conditions (for G-SIBs only)
55. Significant investments in the capital banking, financial and insurance N/A
entities that are outside the scope of regulatory consolidation (net of
eligible short positions)
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
5. Capital - Composition of Capital (CC1) - as of December 31, 2024
Amount
Reference from
(in million Rupiah)
No. Component Consolidated Statements
Consolidated of Financial Position
56. National specific regulatory adjustments
a. Sinking fund -
b. Investments in Instruments issued by the other bank that meet the -
criteria for inclusion in Additional Tier 2
57. Total regulatory adjustments to Tier 2 capital -
58. Tier 2 capital (T2) 9,886,723
59. Total capital (TC = T1 + T2) 265,198,025
60. Total risk weighted assets 910,183,696
Capital ratios and buffers
61. Common Equity Tier 1 (as a percentage of risk weighted assets) 28.05%
62. Tier 1 (as a percentage of risk weighted assets) 28.05%
63. Total capital (as a percentage of risk weighted assets) 29.14%
64. Institution specific buffer requirement (minimum CET1 requirement 5.000%
plus capital conservation buffer plus countercyclical buffer
requirements plus G-SIB buffer requirement, expressed as a
percentage of risk weighted assets)
65. Capital conservation buffer requirement 2.500%
66. Bank specific countercyclical buffer requirement 0.000%
67. Higher loss absorbency requirement 2.500%
68. Common Equity Tier 1 available to meet buffers (as a percentage of 19.15%
risk weighted assets)
National minimal (if different from Basel 3)
69. National Common Equity Tier 1 minimum ratio (if different from Basel 3 N/A
minimum)
70. National Tier 1 minimum ratio (if different from Basel 3 minimum) N/A
71. National total capital minimum ratio (if different from Basel 3 minimum) N/A
Amounts below the thresholds for deduction
(before risk weighting)
72. Non-significant investments in the capital and other TLAC liabilities of N/A
other financial entities
73. Significant investments in the common stock of financial entities N/A
74. Mortgage servicing rights (net of related tax liability) N/A
75. Deferred tax assets arising from temporary differences (net of related N/A
tax liability)
Applicable caps on the inclusion of provisions in Tier 2
76. Provisions eligible for inclusion in Tier 2 in respect of exposures subject N/A
to standardised approach (prior to application of cap)
77. Cap on inclusion of provisions in Tier 2 under standardised approach N/A
78. Provisions eligible for inclusion in Tier 2 in respect of exposures subject N/A
to internal ratings-based approach (prior to application of cap)
79. Cap for inclusion of provisions in Tier 2 under internal ratings-based N/A
approach
Capital instruments subject to phase-out arrangements
(only applicable between 1 Jan 2018 and 1 Jan 2022)
80. Current cap on CET1 instruments subject to phase out arrangements N/A
81. Amount excluded from CET1 due to cap (excess over cap after N/A
redemptions and maturities)
82. Current cap on AT 1 included phase out Current cap on AT1 instruments N/A
subject to phase out arrangements
83. Amount excluded from AT1 due to cap (excess over cap after N/A
redemptions and maturities)
84. Current cap on T2 instruments subject to phase out arrangements N/A
85. Amount excluded from T2 due to cap (excess over cap after N/A
redemptions and maturities)
2024 Annual Report PT Bank Central Asia Tbk 159
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
5, Capital - Composition of Capital (CC1) - as of December 31, 2023
Amount
Reference from
(in million Rupiah)
No, Component Consolidated Statements
Consolidated of Financial Position
Common Equity Tier 1 Capital: Instruments and Reserves
1, Directly issued qualifying common share (and equivalent for non-joint 7,252,306 f
stock companies) capital plus related stock surplus
2, Retained earnings 222,650,234 i
3, Accumulated other comprehensive income (and other reserves) 15,521,218 h
4, Directly issued capital subject to phase out from CET1 (only applicable N/A
to non-joint stock companies)
5, Common share capital issued by subsidiaries and held by third parties -
(amount allowed in group CET1)
6, Common Equity Tier 1 capital before regulatory adjustments 245,423,758
Common Equity Tier 1 capital: Regulatory Adjustments
7, Prudential valuation adjustments -
8, Goodwill (net of related tax liability) (1,113,614) a
9, Other intangibles other than mortgage-servicing rights (426,630) c
(net of related tax liability)
10, Deferred tax assets that rely on future profitability excluding those N/A
arising from temporary differences (net of related tax liability)
11, Cash-flow hedge reserve N/A
12, Shortfall on provisions to expected losses N/A
13, Securitisation gain on sale (as set out in paragraph 562 of Basel II - k
framework)
14, Gains and losses due to changes in own credit risk on fair valued - j
liabilities
15, Defined-benefit pension fund net assets N/A
16, Investments in own shares (if not already netted off paid-in capital on N/A
reported balance sheet)
17, Reciprocal cross-holdings in common equity N/A
18, Investments in the capital of Banking, financial and insurance entities N/A
that are outside the scope of regulatory consolidation, net of eligible
short positions, where the Bank does not own more than 10% of the
issued share capital (amount above 10% threshold)
19, Significant investments in the common stock of Banking, financial N/A
and insurance entities that are outside the scope of regulatory
consolidation, net of eligible short positions (amount above 10%
threshold)
20, Mortgage servicing rights (amount above 10% threshold) - b
21, Deferred tax assets arising from temporary differences (amount above N/A
10% threshold, net of related tax liability)
22, Amount exceeding the 15% threshold
23, Significant investments in the common stock of financials N/A
24, Mortgage servicing rights N/A
25, Deferred tax assets arising from temporary differences N/A
160 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
5, Capital - Composition of Capital (CC1) - as of December 31, 2023
Amount
Reference from
(in million Rupiah)
No, Component Consolidated Statements
Consolidated of Financial Position
26, National specific regulatory adjustments
a, Difference between allowance for possible losses and allowance -
for impairment losses on earning assets
b, Allowance for losses on non productive assets required to be (1,704,721)
provided
c, Deferred tax asset (7,356,283) d
d, Investments in shares of stock (1,120,930)
e, Shortage of capital on insurance subsidiary company -
f, Securitisation Exposure -
g, Other deduction factor of Common Equity Tier 1 -
27, Regulatory adjustments applied to Common Equity Tier 1 due to -
insufficient Additional Tier 1 and Tier 2 to cover deductions
28, Total regulatory adjustments to Common equity Tier 1 (11,722,178)
29, Common Equity Tier 1 capital (CET1) 233,701,580
Additional Tier 1 capital: instruments
30, Directly issued qualifying Additional Tier 1 instruments plus related stock
surplus
31, Classified as equity under applicable accounting standards - g
32, Classified as liabilities under applicable accounting standards - e
33, Directly issued capital instruments subject to phase out from Additional N/A
Tier 1
34, Additional Tier 1 instruments (and CET1 instruments not included in -
row 5) issued by subsidiaries and held by third parties
(amount allowed in group AT1)
35, Instruments issued by subsidiaries subject to phase out N/A
36, Additional Tier 1 capital before regulatory adjustments -
Additional Tier 1 capital: regulatory adjustments
37, Investments in own Additional Tier 1 instruments N/A
38, Reciprocal cross-holdings in Additional Tier 1 instruments N/A
39, Investments in the capital of Banking, financial and insurance entities N/A
that are outside the scope of regulatory consolidation, net of eligible
short positions, where the Bank does not own more than 10% of
the issued common share capital of the entity (amount above 10%
threshold)
40, Significant investments in the capital of Banking, financial and insurance N/A
entities that are outside the scope of regulatory consolidation (net of
eligible short positions)
41, National specific regulatory adjustments
a, Investments in Instruments issued by the other bank that meet the -
criteria for inclusion in Additional Tier 1
42, Regulatory adjustments applied to Additional Tier 1 due to insufficient -
Tier 2 to cover deductions
43, Total regulatory adjustments to Additional Tier 1 capital -
44, Additional Tier 1 capital (AT1) -
45, Tier 1 capital (T1 = CET 1 + AT 1) 233,701,580
2024 Annual Report PT Bank Central Asia Tbk 161
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
5, Capital - Composition of Capital (CC1) - as of December 31, 2023
Amount
Reference from
(in million Rupiah)
No, Component Consolidated Statements
Consolidated of Financial Position
Tier 2 capital: instruments and provisions
46, Directly issued qualifying Tier 2 instruments plus related stock surplus 202,750
47, Directly issued capital instruments subject to phase out from N/A
Tier 2
48, Tier 2 instruments (and CET1 and AT1 instruments not included in rows 5 -
or 34) issued by subsidiaries and held by third parties (amount allowed in
group Tier 2)
49, Instruments issued by subsidiaries subject to phase out N/A
50, General allowance for losses on earning assets that must be calculated 8,789,846
with a maximum amount of 1,25% of RWA for Credit Risk
51, Tier 2 capital before regulatory adjustments 8,992,596
Tier 2 capital: regulatory adjustments
52, Investments in own Tier 2 instruments N/A
53, Reciprocal cross-holdings in Tier 2 instruments and other TLAC liabilities N/A
54, Investments in the other TLAC liabilities of banking, financial and N/A
insurance entities that are outside the scope of regulatory consolidation
and where the bank does not own more than 10% of the issued common
share capital of the entity: amount previously designated for the 5%
threshold but that no longer meets the conditions (for G-SIBs only)
55, Significant investments in the capital banking, financial and insurance N/A
entities that are outside the scope of regulatory consolidation (net of
eligible short positions)
56, National specific regulatory adjustments
a, Sinking fund -
b, Investments in Instruments issued by the other bank that meet the -
criteria for inclusion in Additional Tier 2
57, Total regulatory adjustments to Tier 2 capital -
58, Tier 2 capital (T2) 8,992,596
59, Total capital (TC = T1 + T2) 242,694,176
60, Total risk weighted assets 825,610,552
Capital ratios and buffers
61, Common Equity Tier 1 (as a percentage of risk weighted assets) 28.31%
62, Tier 1 (as a percentage of risk weighted assets) 28.31%
63, Total capital (as a percentage of risk weighted assets) 29.40%
64, Institution specific buffer requirement (minimum CET1 requirement 5.000%
plus capital conservation buffer plus countercyclical buffer
requirements plus G-SIB buffer requirement, expressed as a
percentage of risk weighted assets)
65, Capital conservation buffer requirement 2.500%
66, Bank specific countercyclical buffer requirement 0.000%
67, Higher loss absorbency requirement 2.500%
68, Common Equity Tier 1 available to meet buffers (as a percentage of 19.41%
risk weighted assets)
162 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
5, Capital - Composition of Capital (CC1) - as of December 31, 2023
Amount
Reference from
(in million Rupiah)
No, Component Consolidated Statements
Consolidated of Financial Position
National minimal (if different from Basel 3)
69, National Common Equity Tier 1 minimum ratio (if different from Basel 3 N/A
minimum)
70, National Tier 1 minimum ratio (if different from Basel 3 minimum) N/A
71, National total capital minimum ratio (if different from Basel 3 minimum) N/A
Amounts below the thresholds for deduction
(before risk weighting)
72, Non-significant investments in the capital and other TLAC liabilities of N/A
other financial entities
73, Significant investments in the common stock of financial entities N/A
74, Mortgage servicing rights (net of related tax liability) N/A
75, Deferred tax assets arising from temporary differences (net of related N/A
tax liability)
Applicable caps on the inclusion of provisions in Tier 2
76, Provisions eligible for inclusion in Tier 2 in respect of exposures subject N/A
to standardised approach (prior to application of cap)
77, Cap on inclusion of provisions in Tier 2 under standardised approach N/A
78, Provisions eligible for inclusion in Tier 2 in respect of exposures subject N/A
to internal ratings-based approach (prior to application of cap)
79, Cap for inclusion of provisions in Tier 2 under internal ratings-based N/A
approach
Capital instruments subject to phase-out arrangements
(only applicable between 1 Jan 2018 and 1 Jan 2022)
80, Current cap on CET1 instruments subject to phase out arrangements N/A
81, Amount excluded from CET1 due to cap (excess over cap after N/A
redemptions and maturities)
82, Current cap on AT 1 included phase out Current cap on AT1 instruments N/A
subject to phase out arrangements
83, Amount excluded from AT1 due to cap (excess over cap after N/A
redemptions and maturities)
84, Current cap on T2 instruments subject to phase out arrangements N/A
85, Amount excluded from T2 due to cap (excess over cap after N/A
redemptions and maturities)
2024 Annual Report PT Bank Central Asia Tbk 163
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
6. Capital - Reconciliation of Capital (CC2) - as of December 31, 2024
(in million Rupiah)
Published Statements of
Financial Position
Consolidated Statements
of Financial Position Under
No. Accounts Regulatory Scope of Reference
Consolidated Consolidation
as of December 31, 2024
ASSETS
1. Cash 29,315,878 29,315,815
2. Placement to Bank Indonesia 45,054,681 45,054,681
3. Interbank placement 11,167,894 10,722,300
4. Spot and derivative/forward receivables 221,208 221,208
5 Securities 400,007,735 395,066,432
6. Securities sold under repurchase agreement 1,222,258 1,222,258
(repo)
7. Claims on securities bought under reverse 1,450,603 1,450,603
repo
8. Acceptance receivables 10,061,742 10,061,742
9. Loans and financing 911,109,701 911,109,117
10. Sharia financing 10,717,227 10,717,227
11. Equity investment 672,824 1,822,001
12. Other financial assets 13,790,725 13,153,630
13. Impairment on financial assets -/- (34,521,992) (34,484,038)
a. Securities (450,422) (412,468)
b. Loans and Sharia financing (33,498,517) (33,498,517)
c. Others (573,053) (573,053)
14. Intangible assets 2,722,675 2,668,116
Goodwill 1,158,201 1,157,122 a
Mortgage servicing rights - - b
Other intangibles (excluding Mortgage 1,564,474 1,510,994 c
servicing rights)
Accumulated amortization on intangible asset -/- (917,036) (884,218)
Goodwill (43,512) (43,508) a
Mortgage servicing rights - - b
Other intangibles (excluding Mortgage (873,524) (840,710) c
servicing rights)
15. Fixed assets and equipment 38,150,330 37,949,889
Accumulated depreciation on fixed assets and (9,899,706) (9,766,505)
equipment -/-
16. Non productive asset 2,127,603 2,127,603
a. Abandoned property 47,668 47,668
b. Foreclosed accounts 1,859,220 1,859,220
c. Suspense accounts 12,747 12,747
d. Interbranch assets 207,968 207,968
17. Other assets 16,846,978 16,720,366
Deferred tax assets 5,495,208 5,385,459 d
Others 11,351,770 11,334,907
TOTAL ASSETS 1,449,301,328 1,444,248,227
164 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
6. Capital - Reconciliation of Capital (CC2) - as of December 31, 2024
(in million Rupiah)
Published Statements of
Financial Position
Consolidated Statements
of Financial Position Under
No. Accounts Regulatory Scope of Reference
Consolidated Consolidation
as of December 31, 2024
LIABILITIES AND EQUITIES
LIABILITIES
1. Current account 361,883,711 361,890,019
2. Saving account 562,093,704 562,093,704
3. Time deposit 209,634,748 209,759,748
4. Electronic money 1,369,505 1,369,505
5. Liabilities to Bank Indonesia 577 577
6. Interbank liabilities 3,656,301 3,656,301
7. Spot and derivative/forward liabilities 257,613 257,613
8. Liabilities on securities sold under repurchase 1,330,996 1,330,996
agreement
9. Acceptance liabilities 4,651,955 4,651,955
10. Issued securities 500,000 500,000
11. Loans/financing received 2,241,939 2,241,939
Recognized in AT 1 - - e
Not recognized in capital 2,241,939 2,241,939
12. Margin deposit 275,893 275,893
13. Interbranch liabilities - -
14. Other liabilities 38,569,299 34,421,528
15. Non-controlling interest 194,466 113,050
TOTAL LIABILITIES 1,186,660,707 1,182,562,828
2024 Annual Report PT Bank Central Asia Tbk 165
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
6. Capital - Reconciliation of Capital (CC2) - as of December 31, 2024
(in million Rupiah)
Published Statements of
Financial Position
Consolidated Statements
of Financial Position Under
No. Accounts Regulatory Scope of Reference
Consolidated Consolidation
as of December 31, 2024
EQUITIES
16. Paid in capital 1,540,938 1,540,938
a. Capital 5,500,000 5,500,000
a.1. amount eligible for CET 1 5,500,000 5,500,000 f
a.2. amount eligible for AT 1 - - g
b. Unpaid capital -/- (3,959,062) (3,959,062)
b.1. amount eligible for CET 1 (3,959,062) (3,959,062) f
b.2. amount eligible for AT 1 - - g
c. Treasury stock -/- - -
c.1. amount eligible for CET 1 - - f
c.2. amount eligible for AT 1 - - g
17. Additional paid in capital 5,548,977 5,618,537
a. Agio 5,711,368 5,711,368 f
b. Disagio -/- - - f
c. Fund for paid up capital - - f
d. Others (162,391) (92,831)
18. Other comprehensive income 8,173,485 8,164,571
a. Gains 11,878,405 11,873,209
b. Losses -/- (3,704,920) (3,708,638)
19. Reserves 3,720,540 3,720,540 h
a. General reserves 3,720,540 3,720,540
b. Appropriated reserves - -
20. Gain/loss 243,656,681 242,640,813
a. Previous years 223,029,202 222,200,295
a. 1. Gain/Loss previous years 223,029,202 222,200,295 i
a. 2. Gain/Loss due to changes in own - - j
credit risk on fair valued liabilities
a. 3. Securitisation gain on sale - - k
b. Current Year 54,836,305 54,649,344
b. 1. Gain/Loss current year 54,836,305 54,649,344 i
b. 2. Gain/Loss due to changes in own - - j
credit risk on fair valued liabilities
b. 3. Securitisation gain on sale - - k
c. Dividend paid -/- (34,208,826) (34,208,826) i
TOTAL EQUITIES 262,640,621 261,685,399
TOTAL LIABILITIES AND EQUITIES 1,449,301,328 1,444,248,227
166 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
6. Capital - Reconciliation of Capital (CC2) - as of December 31, 2023
(in million Rupiah)
Published Statements of
Financial Position
Consolidated Statements
of Financial Position Under
No. Accounts Regulatory Scope of Reference
Consolidated Consolidation
as of December 31, 2024
ASET
1. Cash 21,701,514 21,701,447
2. Placement to Bank Indonesia 93,369,596 93,369,596
3. Interbank placement 10,065,706 9,038,204
4. Spot and derivative/forward receivables 217,514 217,514
5 Securities 335,856,269 332,267,991
6. Securities sold under repurchase agreement 1,117,221 1,117,221
(repo)
7. Claims on securities bought under reverse 93,097,151 93,097,151
repo
8. Acceptance receivables 14,942,739 14,942,739
9. Loans and financing 801,238,110 801,236,990
10. Sharia financing 9,013,552 9,013,552
11. Equity investment 853,800 1,970,303
12. Other financial assets 15,094,056 14,397,891
13. Impairment on financial assets -/- (34,898,867) (34,859,953)
a. Securities (444,590) (405,676)
b. Loans and Sharia financing (34,059,755) (34,059,755)
c. Others (394,522) (394,522)
14. Intangible assets 2,622,268 2,572,022
Goodwill 1,158,201 1,157,122 a
Mortgage servicing rights - - b
Other intangibles (excluding Mortgage 1,464,067 1,414,900 c
servicing rights)
Accumulated amortization on intangible asset -/- (1,057,495) (1,031,778)
Goodwill (43,512) (43,508) a
Mortgage servicing rights - - b
Other intangibles (excluding Mortgage (1,013,983) (988,270) c
servicing rights)
15. Fixed assets and equipment 36,924,867 36,742,510
Accumulated depreciation on fixed assets and (10,100,123) (9,992,344)
equipment -/-
16. Non productive asset 1,947,165 1,947,165
a. Abandoned property 47,212 47,212
b. Foreclosed accounts 1,707,367 1,707,367
c. Suspense accounts 21,406 21,406
d. Interbranch assets 171,180 171,180
17. Other assets 16,101,967 16,317,035
Deferred tax assets 7,451,236 7,356,283 d
TOTAL ASET 1,408,107,010 1,404,065,256
2024 Annual Report PT Bank Central Asia Tbk 167
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
6. Capital - Reconciliation of Capital (CC2) - as of December 31, 2023
(in million Rupiah)
Published Statements of
Financial Position
Consolidated Statements
of Financial Position Under
No. Accounts Regulatory Scope of Reference
Consolidated Consolidation
as of December 31, 2024
LIABILITIES AND EQUITIES
LIABILITIES
1. Current account 348,457,223 348,494,977
2. Saving account 536,183,763 536,183,763
3. Time deposit 217,031,663 217,056,663
4. Electronic money 1,240,471 1,240,471
5. Liabilities to Bank Indonesia 577 577
6. Interbank liabilities 10,070,823 10,070,823
7. Spot and derivative/forward liabilities 122,765 122,765
8. Liabilities on securities sold under repurchase 1,054,780 1,054,780
agreement
9. Acceptance liabilities 6,701,256 6,701,256
10. Issued securities 690,000 690,000
11. Loans/financing received 1,629,049 1,629,049
Recognized in AT 1 - - e
Not recognized in capital 1,629,049 1,629,049
12. Margin deposit 290,144 290,144
13. Interbranch liabilities 5,388 5,388
14. Other liabilities 42,091,515 38,842,050
15. Non-controlling interest 181,337 108,278
TOTAL LIABILITIES 1,165,750,754 1,162,490,984
168 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
6. Capital - Reconciliation of Capital (CC2) - as of December 31, 2023
(in million Rupiah)
Published Statements of
Financial Position
Consolidated Statements
of Financial Position Under
No. Accounts Regulatory Scope of Reference
Consolidated Consolidation
as of December 31, 2024
EQUITIES
16. Paid in capital 1,540,938 1,540,938
a. Capital 5,500,000 5,500,000
a.1. amount eligible for CET 1 5,500,000 5,500,000 f
a.2. amount eligible for AT 1 - - g
b. Unpaid capital -/- (3,959,062) (3,959,062)
b.1. amount eligible for CET 1 (3,959,062) (3,959,062) f
b.2. amount eligible for AT 1 - - g
c. Treasury stock -/- - -
c.1. amount eligible for CET 1 - - f
c.2. amount eligible for AT 1 - - g
17. Additional paid in capital 5,548,977 5,618,537
a. Agio 5,711,368 5,711,368 f
b. Disagio -/- - - f
c. Fund for paid up capital - - f
d. Others (162,391) (92,831)
18. Other comprehensive income 8,553,051 8,530,414
a. Gains 12,316,976 12,296,454
b. Losses -/- (3,763,925) (3,766,040)
19. Reserves 3,234,149 3,234,149 h
a. General reserves 3,234,149 3,234,149
b. Appropriated reserves - -
20. Gain/loss 223,479,141 222,650,234
a. Previous years 201,035,967 200,411,992
a. 1. Gain/Loss previous years 201,035,967 200,411,992 i
a. 2. Gain/Loss due to changes in own - - j
credit risk on fair valued liabilities
a. 3. Securitisation gain on sale - - k
b. Current Year 48,639,122 48,434,190
b. 1. Gain/Loss current year 48,639,122 48,434,190 i
b. 2. Gain/Loss due to changes in own - - j
credit risk on fair valued liabilities
b. 3. Securitisation gain on sale - - k
c. Dividend paid -/- (26,195,948) (26,195,948) i
TOTAL EQUITIES 242,356,256 241,574,272
TOTAL LIABILITIES AND EQUITIES 1,408,107,010 1,404,065,256
2024 Annual Report PT Bank Central Asia Tbk 169
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
7. Capital - Main Features of Capital and TLAC - Eligible Instruments (CCA) - as of December 31, 2024
No. Question Answer Answer Answer
1. Issuer PT Bank Central Asia Tbk PT Bank Central Asia Tbk PT Bank Central Asia Tbk
2. Unique identifier BBCA BBCA01ASBCN1 BBCA01BSBCN1
3. Governing law(s) of the instrument Indonesian Law Indonesian Law Indonesian Law
Regulatory treatment
4. Transitional Basel III rules N/A N/A N/A
5. Post-transitional Basel III rules CET 1 Tier 2 Tier 2
6. Eligible at Solo/Group or group and solo Solo Solo Solo
7. Instrument type Common Stock Subordinated Loan Subordinated Loan
8. Amount recognised in regulatory capital 7,252,306 435,000 65,000
9. Par value of instrument 12.5 435,000 65,000
10. Accounting classification Equity Liability - Amortised Cost Liability - Amortised Cost
11. Original date of issuance 31 May 2000 5 July 2018 5 July 2018
12. Perpetual or dated Perpetual With Maturity With Maturity
13. Original maturity date N/A 5 July 2025 5 July 2030
14. Issuer call subject to prior supervisory approval No No No
15. Optional call date, contingent call dates and N/A N/A N/A
redemption amount (if any)
16. Subsequent call option N/A N/A N/A
Coupons/dividends
17. Fixed or floating Floating Fixed Fixed
18. Coupon rate and any related index N/A N/A N/A
19. Existence of a dividend stopper No No No
20. Fully discretionary; partial or mandatory Fully discretionary partial partial
21. Existence of step up or other incentive to No No No
redeem
22. Non-cumulative or cumulative Noncumulative Cumulative Cumulative
23. Convertible or non-convertible Non-convertible Non-convertible Non-convertible
24. If convertible, conversion trigger (s) N/A N/A N/A
25. If convertible, fully or partially N/A N/A N/A
26. If convertible, conversion rate N/A N/A N/A
27. If convertible, mandatory or optional N/A N/A N/A
conversion
28. If convertible, specify instrument type N/A N/A N/A
convertible into
29. If convertible, specify issuer of instrument it N/A N/A N/A
converts into
30. Write-down feature No Yes Yes
31. If write-down, write-down trigger(s) N/A **) **)
32. If write-down, full or partial N/A Full or partial Full or partial
33. If write-down, permanent or temporary N/A Permanent Permanent
34. If temporary write-down, description of write- N/A N/A N/A
up mechanism
35. Position in subordination hierarchy in liquidation *) ***) ***)
36. Non-compliant transitioned features No No No
37. If yes, specify non-compliant features N/A N/A N/A
Qualitative Analysis
*)
In a liquidation, shareholders shall only receive the remaining proceeds, if any, after all existing creditors have been paid and there is
still the remaining assets of the company
**)
(i)
Common Equity Tier 1 ratio lower or equal to 5.125% from risk weighted assets, both individually and consolidated with
subsidiaries; and/or
(ii) there is a plan from authorized authority to make capital investment to the Entity which is considered to have the potential disrupt
the continuity of its business; and
(iii) there is an order from Financial Services Authority (OJK) to write down.
If in the future the write down criteria are determined otherwise based on the provisions of the laws and regulations, the write
down criteria will follow these provisions.
***)
At the time of Liquidation, the subordinated bond holder will only get return on investment if all preferred creditors and senior debt
holders of the company have received payment and there is still the remaining assets of the company.
170 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
7. Capital - Main Features of Capital and TLAC - Eligible Instruments (CCA) - as of December 31, 2023
No. Question Answer Answer Answer
1. Issuer PT Bank Central Asia Tbk PT Bank Central Asia Tbk PT Bank Central Asia Tbk
2. Unique identifier BBCA BBCA01ASBCN1 BBCA01BSBCN1
3. Governing law(s) of the instrument Indonesian Law Indonesian Law Indonesian Law
Regulatory treatment
4. Transitional Basel III rules N/A N/A N/A
5. Post-transitional Basel III rules CET 1 Tier 2 Tier 2
6. Eligible at Solo/Group or group and solo Solo Solo Solo
7. Instrument type Common stock Subordinated securities Subordinated securities
8. Amount recognised in regulatory capital 7,252,306 435,000 65,000
9. Par value of instrument 12.05 435,000 65,000
10. Accounting classification Equity Liability – Amortised Liability – Amortised
Cost Cost
11. Original date of issuance May 31, 2000 July 5, 2018 July 5, 2018
12. Perpetual or dated Perpetual With maturity With maturity
13. Original maturity date N/A July 5, 2025 July 5, 2030
14. Issuer call subject to prior supervisory approval No No No
15. Optional call date, contingent call dates and N/A N/A N/A
redemption amount (if any)
16. Subsequent call option N/A N/A N/A
Coupons/dividends
17. Fixed or floating Floating Fixed Fixed
18. Coupon rate and any related index N/A N/A N/A
19. Existence of a dividend stopper No No No
20. Fully discretionary; partial or mandatory Fully Partial Partial
21. Existence of step up or other incentive to No No No
redeem
22. Non-cumulative or cumulative Non-cumulative Cumulative Cumulative
23. Convertible or non-convertible Non-convertible Non-convertible Non-convertible
24. If convertible, conversion trigger (s) N/A N/A N/A
25. If convertible, fully or partially N/A N/A N/A
26. If convertible, conversion rate N/A N/A N/A
27. If convertible, mandatory or optional N/A N/A N/A
conversion
28. If convertible, specify instrument type N/A N/A N/A
convertible into
29. If convertible, specify issuer of instrument it N/A N/A N/A
converts into
30. Write-down feature No Yes Yes
31. If write-down, write-down trigger(s) N/A **) **)
32. If write-down, full or partial N/A can be full or partial can be full or partial
33. If write-down, permanent or temporary N/A Permanent Permanent
34. If temporary write-down, description of write- N/A N/A N/A
up mechanism
35. Position in subordination hierarchy in liquidation *) ***) ***)
36. Non-compliant transitioned features No No No
37. If yes, specify non-compliant features N/A N/A N/A
Qualitative Analysis
*)
In a liquidation, shareholders shall only receive the remaining proceeds, if any, after all existing creditors have been paid and there is
still the remaining assets of the company.
**)
(i) Common Equity Tier 1 ratio lower or equal to 5.125% from risk weighted assets, both individually and consolidated with
subsidiaries; and/or
(ii) there is a plan from authorized authority to make capital investment to the Emiten which is considered to have the potential
disrupt the continuity of its business; and
(iii) there is an order from Financial Services Authority (OJK) to write down.
If in the future the write down criteria are determined otherwise based on the provisions of the laws and regulations, the write down
criteria will follow these provisions.
***)
At the time of Liquidation, the subordinated bond holder will only get return on investment if all preferred creditors and senior debt
holders of the company have received payment and there is still the remaining assets of the company.
2024 Annual Report PT Bank Central Asia Tbk 171
Page 174
Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
10.a. Leverage Ratio - Exposure in Leverage Ratio Report and Report of Leverage Calculation - Bank Only
A. Exposure in Leverage Ratio Report
(in million Rupiah)
No. Information As of December 31, 2024
1 Total assets on the balance sheet in published financial statements. 1,439,638,640
(Gross value before deducting impairment provision).
2 Adjustment for investment in Bank, Financial Institution, Insurance Company, and/or other -
entities that consolidated based on accounting standard yet out of scope consolidation based on
Otoritas Jasa Keuangan.
3 Adjustment for portfolio of financial asset that have underlying which already transferred to -
without recourse securitization asset as stipulated in OJK’s statutory regulations related to
Prudential Principles in Securitization Asset Activity for General Bank
In the event that the underlying financial asset has been deducted from the total assets in the
statement of financial position, the number on this line is 0 (zero).
4 Adjustment to temporary exception of Placement to Bank Indonesia in accordance N/A
Statutory Reserve Requirement (if any).
5 Adjustment to fiduciary asset that recognized as balance sheet based on accounting standard N/A
yet excluded from total exposure in Leverage Ratio calculation.
6 Adjustment to acquisition cost or sales price of financial assets regularly using -
trade date accounting method.
7 Adjustment to qualified cash pooling transaction as stipulated in this OJK’s -
regulation.
8 Adjustment to exposure of derivative transaction. 930,837
9 Adjustment to exposure of Securities Financing Transaction (SFT) as example: 199,932
reverse repo transaction.
10 Adjustment to exposure of Off Balance Sheet transaction that already multiply with Credit 151,566,257
Conversion Factor.
11 Prudent valuation adjustments in form of capital deduction factor and impairment. (51,764,964)
12 Other adjustments. -
13 Total Exposure in Leverage Ratio Calculation 1,540,570,702
B. Leverage Ratio Calculation Report
(in million Rupiah)
Period
No. Information
31 December 2024 30 September 2024
On-Balance Sheet Exposure
1 On-balance sheet exposure including collateral, but excluding derivatives 1,437,334,614 1,424,919,493
and securities financing transaction (SFTs)
(gross value before deducting impairment provisions).
2 Gross-up for derivatives collateral provided where deducted from balance sheet - -
assets pursuant to the accounting standard.
3 (Deductions of receivable assets for CVM provided in derivatives transactions). - -
4 (Adjustment for securities received under securities financing transactions that are - -
recognised as an asset).
5 (Impairment provision those assets inline with accounting standard applied). (33,308,750) (34,813,195)
6 (Asset amounts deducted in determining Basel III Tier 1 capital and regulatory (15,488,631) (16,685,423)
adjustments).
7 Total On-Balance Sheet Exposure 1,388,537,233 1,373,420,875
(Sum of rows 1 to 6)
Derivative Exposure
8 Replacement cost associated with all derivatives transactions (where applicable 306,487 525,094
net of eligible cash variation margin and/or with bilateral netting).
9 Add on amounts for PFE associated with all derivatives transactions. 843,269 632,173
10 (Exempted central counterparty (CCP) leg of client-cleared trade exposures) - (28)
11 Adjusted effective notional amount of written credit derivatives. - -
12 (Adjusted effective notional offsets and add-on deductions for written credit - -
derivatives).
13 Total Derivative Exposure 1,149,756 1,157,239
(Sum of rows 8 to 12)
172 PT Bank Central Asia Tbk 2024 Annual Report
Page 175
Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
B. Leverage Ratio Calculation Report
(in million Rupiah)
Period
No. Information
31 December 2024 30 September 2024
Securities Financing Transaction (SFT) Exposure
14 Gross SFT Assets. 2,085,107 2,029,501
15 (Netted amounts of cash payables and cash receivables of gross SFT assets). - -
16 Counterparty credit risk exposure for SFT assets refers to current exposure 199,932 295,214
calculation.
17 Agent transaction exposures. - -
18 Total SFT Exposure 2,285,039 2,324,715
(Sum of rows 14 to 17)
Other Off-Balance Sheet Exposure
19 Off-balance sheet exposure at gross notional amount. 447,829,590 427,654,442
(gross value before deducting impairment provision)
20 (Adjustment from the result of multiplying commitment payable or contingent (296,263,333) (285,496,275)
payables with credit conversion factor and deducted with impairment provision).
21 (Impairment provision for off balance sheet inline with accounting standard). (2,967,583) (3,138,590)
22 Total Other Off-Balance Sheet Exposure 148,598,674 139,019,577
(Sum of rows 19 to 21)
Capital and Total Exposure
23 Tier 1 Capital 239,468,854 230,944,007
24 Total Exposure 1,540,570,702 1,515,922,406
(Sum of rows 7,13,18,22)
Leverage Ratio
25 Leverage ratio (including the impact of any applicable temporary exemption of 15.54% 15.23%
central bank reserves)
25a Leverage ratio (excluding the impact of any applicable temporary exemption of 15.54% 15.23%
central bank reserves).
26 National Minimum Leverage Ratio Requirement. 3.00% 3.00%
27 Applicable Leverage Buffer. N/A N/A
Disclosures of Mean Values
28 Mean value of gross SFT assets, after adjustment for sale accounting transactions 39,732,399 50,514,785
and netted of amounts of associated cash payables and cash receivables.
29 Quarter-end value of gross SFT assets, after adjustment for sale accounting 2,085,107 2,029,501
transactions and netted of amounts of associated cash payables and cash
receivables.
30 Total exposures (including the impact of any applicable temporary exemption of 1,578,217,994 1,564,407,690
central bank reserves) incorporating mean values from row 28 of gross SFT assets.
30a Total exposures (excluding the impact of any applicable temporary exemption of 1,578,217,994 1,564,407,690
central bank reserves) incorporating mean values from row 28 of gross SFT asset.
31 Leverage ratio (including the impact of any applicable temporary exemption of 15.17% 14.76%
central bank reserves) incorporating mean values from row 28 of gross SFT assets.
31a Leverage ratio (excluding the impact of any applicable temporary exemption of 15.17% 14.76%
central bank reserves) incorporating mean values from row 28 of gross SFT assets.
2024 Annual Report PT Bank Central Asia Tbk 173
Page 176
Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
10.b. Leverage Ratio - Exposure in Leverage Ratio Report and Report of Leverage Calculation - Consolidated
A. Exposure in Leverage Ratio Report
(in million Rupiah)
No. Information As of December 31, 2024
1 Total assets on the balance sheet in published financial statements. 1,483,823,320
(Gross value before deducting impairment provision).
2 Adjustment for investment in Bank, Financial Institution, Insurance Company, and/or other (5,053,101)
entities that consolidated based on accounting standard yet out of scope consolidation based on
Financial Services Authority (OJK).
3 Adjustment for portfolio of financial asset that have underlying which already transferred to -
without recourse securitization asset as stipulated in OJK’s statutory regulations related to
Prudential Principles in Securitization Asset Activity for General Bank.
In the event that the underlying financial asset has been deducted from the total assets in the
statement of financial position, the number on this line is 0 (zero).
4 Adjustment to temporary exception of Placement to Bank Indonesia in accordance
N/A
Statutory Reserve Requirement (if any).
5 Adjustment to fiduciary asset that recognized as balance sheet based on accounting standard N/A
yet excluded from total exposure in Leverage Ratio calculation.
6 Adjustment to acquisition cost or sales price of financial assets regularly using -
trade date accounting method.
7 Adjustment to qualified cash pooling transaction as stipulated in Financial Services Authority -
(OJK) regulation.
8 Adjustment to exposure of derivative transaction. 931,752
9 Adjustment to exposure of Securities Financing Transaction (SFT) as example: 785,603
reverse repo transaction.
10 Adjustment to exposure of Off Balance Sheet transaction that already multiply with Credit 152,528,902
Conversion Factor.
11 Prudent valuation adjustments in form of capital deduction factor and impairment. (45,819,100)
12 Other adjustments -
13 Total Exposure in Leverage Ratio Calculation 1,587,197,376
B. Leverage Ratio Calculation Report
(in million Rupiah)
Period
No. Information
31 December 2024 30 September 2024
On-Balance Sheet Exposure
1 On-balance sheet exposure including collateral, but excluding derivatives and 1,475,876,150 1,461,747,831
securities financing transaction (SFTs).
(gross value before deducting impairment provisions)
2 Gross-up for derivatives collateral provided where deducted from balance sheet - -
assets pursuant to the accounting standard.
3 (Deductions of receivable assets for CVM provided in derivatives transactions). - -
4 (Adjustment for securities received under securities financing transactions that are - -
recognised as an asset).
5 (Impairment provision those assets inline with accounting standard applied). (34,520,951) (35,956,495)
6 (Asset amounts deducted in determining Basel III Tier 1 capital and regulatory (8,322,962) (9,441,920)
adjustments).
7 Total On-Balance Sheet Exposure 1,433,032,237 1,416,349,416
(Sum of rows 1 to 6)
Derivative Exposure
8 Replacement cost associated with all derivatives transactions (where applicable 309,691 525,094
net of eligible cash variation margin and/or with bilateral netting).
9 Add on amounts for PFE associated with all derivatives transactions. 843,269 632,173
10 (Exempted central counterparty (CCP) leg of client-cleared trade exposures). N/A (28)
11 Adjusted effective notional amount of written credit derivatives. - -
12 (Adjusted effective notional offsets and add-on deductions for written credit - -
derivatives).
13 Total Derivative Exposure 1,152,960 1,157,239
(Sum of rows 8 to 12)
174 PT Bank Central Asia Tbk 2024 Annual Report
Page 177
Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
B. Leverage Ratio Calculation Report
(in million Rupiah)
Period
No. Information
31 December 2024 30 September 2024
Securities Financing Transaction (SFT) Exposure
14 Gross SFT Assets. 2,671,820 2,419,386
15 (Netted amounts of cash payables and cash receivables of gross SFT assets). - -
16 Counterparty credit risk exposure for SFT assets refers to current exposure 786,644 685,099
calculation.
17 Agent transaction exposures. - -
18 Total SFT Exposure 3,458,464 3,104,485
(Sum of rows 14 to 17)
Other Off-Balance Sheet Exposure
19 Off-balance sheet exposure at gross notional amount 450,823,119 429,876,572
(gross value before deducting impairment provision).
20 (Adjustment from the result of multiplying commitment payable or contingent (298,294,217) (287,516,556)
payables with credit conversion factor and deducted with impairment provision).
21 (Impairment provision for off balance sheet inline with accounting standard). (2,975,187) (3,141,201)
22 Total Other Off-Balance Sheet Exposure 149,553,715 139,218,815
(Sum of rows 19 to 21)
Capital and Total Exposure
23 Tier 1 Capital 255,311,302 247,507,639
24 Total Exposure 1,587,197,376 1,559,829,955
(Sum of rows 7,13,18,22)
Leverage Ratio
25 Leverage ratio (including the impact of any applicable temporary exemption of 16.09% 15.87%
central bank reserves)
25a Leverage ratio (excluding the impact of any applicable temporary exemption of 16.09% 15.87%
central bank reserves).
26 National Minimum Leverage Ratio Requirement. 3.00% 3.00%
27 Applicable Leverage Buffer. N/A N/A
Disclosures of Mean Values
28 Mean value of gross SFT assets, after adjustment for sale accounting transactions 40,516,446 51,425,093
and netted of amounts of associated cash payables and cash receivables.
29 Quarter-end value of gross SFT assets, after adjustment for sale accounting 2,671,820 2,419,386
transactions and netted of amounts of associated cash payables and cash
receivables.
30 Total exposures (including the impact of any applicable temporary exemption of 1,625,042,002 1,608,835,662
central bank reserves) incorporating mean values from row 28 of gross SFT assets.
30a Total exposures (excluding the impact of any applicable temporary exemption of 1,625,042,002 1,608,835,662
central bank reserves) incorporating mean values from row 28 of gross SFT asset.
31 Leverage ratio (including the impact of any applicable temporary exemption of 15.71% 15.38%
central bank reserves) incorporating mean values from row 28 of gross SFT assets.
31a Leverage ratio (excluding the impact of any applicable temporary exemption of 15.71% 15.38%
central bank reserves) incorporating mean values from row 28 of gross SFT assets.
2024 Annual Report PT Bank Central Asia Tbk 175
Page 178
Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
12.a. Credit Risk - Disclosure of Credit Quality over Asset (CR1) - Bank only
(in million Rupiah)
As of 31 December, 2024
Allowance for Allowance for
Gross Carrying Value
Allowance for impairment losses impairment
impairment losses
losses (IRB Net
Past Due Non Past Due Stage 2 and
Stage 1 Approach) Receivables
Receivables Receivables Stage 3
(a+b-c)
(a) (b) (c) (d) (e) (f) (g)
1 Credit 16,022,062 878,890,020 32,382,006 20,727,914 11,654,092 862,530,076
2 Securities 100,000 381,416,498 377,570 100,000 277,570 381,138,928
3 Other Off-Balance 89,066 355,273,406 2,967,583 159,872 2,807,711 352,394,889
Sheet
4 Total 16,211,128 1,615,579,924 35,727,159 20,987,786 14,739,373 1,596,063,893
12.b. Credit Risk - Disclosure of Credit Quality over Asset (CR1) - Consolidated
(in million Rupiah)
As of 31 December, 2024
Allowance for Allowance for
Gross Carrying Value
Allowance for impairment losses impairment
impairment losses
losses (IRB Net
Past Due Non Past Due Stage 2 and
Stage 1 Approach) Receivables
Receivables Receivables Stage 3
(a+b-c)
(a) (b) (c) (d) (e) (f) (g)
1 Credit 16,413,245 905,413,099 33,498,517 21,468,597 12,029,920 888,327,827
2 Securities 100,000 394,966,431 412,468 100,000 312,468 394,653,963
3 Other Off-Balance 89,066 357,312,122 2,975,187 159,872 2,815,315 354,426,001
Sheet
4 Total 16,602,311 1,657,691,652 36,886,172 21,728,469 15,157,703 1,637,407,791
176 PT Bank Central Asia Tbk 2024 Annual Report
Page 179
Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
13.a. Credit Risk - Disclosures of Past Due Credit and Securities Movements (CR2) - Bank only
(in million Rupiah)
As of 31 December, 2024
a
1 Past Due Credit and Securities in prior reporting 18,199,114
2 Past Due Credit and Securities since prior reporting 6,401,257
3 Credit and Securities Restated to Not Past Due Receivables 1,487,692
4 Written-Off 2,150,890
5 Other Changes (4,839,727)
6 Past Due Credit and Securities for end of reporting period (1+2-3-4+5) 16,122,062
13.b. Credit Risk - Disclosures of Past Due Credit and Securities Movements (CR2) - Consolidated
(in million Rupiah)
As of 31 December, 2024
a
1 Past Due Credit and Securities in prior reporting 18,571,755
2 Past Due Credit and Securities since prior reporting 6,566,508
3 Credit and Securities Restated to Not Past Due Receivables 1,520,068
4 Written-Off 2,465,904
5 Other Changes (4,639,046)
6 Past Due Credit and Securities for end of reporting period (1+2-3-4+5) 16,513,245
2024 Annual Report PT Bank Central Asia Tbk 177
Page 180
Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
14.1a. Disclosure of Net Receivables by Region (CRB-1) - Bank Only
(in million Rupiah)
Period of December 31, 2024
Net Receivables by Region
No. Portfolio Category
Eastern
Sumatra Java Kalimantan Total
Indonesia
(1) (2) (3) (4) (5) (6) (7)
1 Receivables on Sovereigns - 368,166,256 - - 368,166,256
2 Receivables on Public Sector Entities 313,604 42,199,324 - - 42,512,928
3 Receivables on Multilateral Development - - - - -
Banks and International Institutions
4 Receivables on Banks 260,231 52,102,114 78,226 57,714 52,498,285
5 Receivables by Covered Bond - - - - -
6 Receivables to Securities Companies and 9,699 54,245,819 488,913 11,950 54,756,381
Other Financial Services Institutions
7 Receivables in the Form of Subordinated - 627,983 - - 627,983
Securities, Equity, and Other Capital
Instruments
8 Loans Secured by Residential Property 14,450,545 187,288,264 6,263,453 9,435,054 217,437,316
9 Loans Secured by Commercial Real Estate 22,205,493 310,678,296 7,532,061 12,944,109 353,359,959
10 Credit for Land Acquisition, Soil - - - - -
Processing, and Construction
11 Employee/Retired Loans - - - - -
12 Receivables on Micro, Small Business & 3,775,001 87,147,016 2,153,413 3,498,945 96,574,375
Retail Portfolio
13 Receivables on Corporate 7,701,027 244,044,367 3,073,298 4,434,524 259,253,216
14 Past Due Receivables 254,205 4,639,972 169,738 274,752 5,338,667
15 Other Assets 4,442,645 59,345,655 1,034,432 3,709,309 68,532,041
Total 53,412,450 1,410,485,066 20,793,534 34,366,357 1,519,057,407
14.1a. Disclosure of Net Receivables by Region (CRB-1) - Bank Only
(in million Rupiah)
Period of December 31, 2023
Net Receivables by Region
No. Portfolio Category
Eastern
Sumatra Java Kalimantan Total
Indonesia
(1) (2) (3) (4) (5) (6) (7)
1 Receivables on Sovereigns - 445,174,198 - - 445,174,198
2 Receivables on Public Sector Entities - 45,470,531 - - 45,470,531
3 Receivables on Multilateral Development - - - - -
Banks and International Institutions
4 Receivables on Banks 254,814 58,801,484 82,310 161,810 59,300,418
5 Receivables by Covered Bond - - - - -
6 Receivables to Securities Companies and 163,539 45,854,488 682,229 7,017 46,707,273
Other Financial Services Institutions
7 Receivables in the Form of Subordinated - 538,590 - - 538,590
Securities, Equity, and Other Capital
Instruments
8 Loans Secured by Residential Property 12,623,481 173,194,709 5,416,358 8,301,905 199,536,453
9 Loans Secured by Commercial Real Estate 19,845,464 266,652,637 5,710,675 11,798,687 304,007,463
10 Credit for Land Acquisition, Soil - - - - -
Processing, and Construction
11 Employee/Retired Loans - - - - -
12 Receivables on Micro, Small Business & 3,153,019 74,610,364 2,062,102 2,990,885 82,816,370
Retail Portfolio
13 Receivables on Corporate 5,942,622 228,425,397 2,914,179 3,707,889 240,990,087
14 Past Due Receivables 255,511 4,280,227 69,507 136,113 4,741,358
15 Other Assets 3,104,743 55,168,724 742,724 1,943,826 60,960,017
Total 45,343,193 1,398,171,349 17,680,084 29,048,132 1,490,242,758
178 PT Bank Central Asia Tbk 2024 Annual Report
Page 181
Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
14.1b. Credit Risk - Disclosure of Net Receivables by Region (CRB-1)- Consolidated
(in million Rupiah)
Period of December 31, 2024
Net Receivables by Region
No. Portfolio Category
Eastern Foreign
Sumatra Java Kalimantan Total
Indonesia Operation
(1) (2) (3) (4) (5) (6) (7) (8)
1 Receivables on Sovereigns - 378,037,874 - - - 378,037,874
2 Receivables on Public Sector Entities 346,937 42,459,758 - 233,333 - 43,040,028
3 Receivables on Multilateral - - - - - -
Development Banks and International
Institutions
4 Receivables on Banks 260,231 54,174,271 78,226 57,714 345,285 54,915,727
5 Receivables by Covered Bond - - - - - -
6 Receivables to Securities Companies 9,699 53,928,029 488,913 11,950 - 54,438,591
and Other Financial Services
Institutions
7 Receivables in the Form of - 600,017 - - 59,109 659,126
Subordinated Securities, Equity, and
Other Capital Instruments
8 Loans Secured by Residential Property 14,494,023 188,393,579 6,264,528 9,476,912 - 218,629,042
9 Loans Secured by Commercial Real 22,210,582 310,791,336 7,532,061 12,949,390 - 353,483,369
Estate
10 Credit for Land Acquisition, Soil - - - - - -
Processing, and Construction
11 Employee/Retired Loans 77,950 57,296 12,376 53,387 - 201,009
12 Receivables on Micro, Small Business & 5,795,060 96,295,259 2,842,230 4,518,449 - 109,450,998
Retail Portfolio
13 Receivables on Corporate 9,318,475 258,023,419 3,927,856 5,001,871 - 276,271,621
14 Past Due Receivables 274,445 4,723,792 178,095 281,286 - 5,457,618
15 Other Assets 4,489,109 60,956,954 1,034,432 3,709,533 4,035 70,194,063
Total 57,276,511 1,448,441,584 22,358,717 36,293,825 408,429 1,564,779,066
14.1b. Credit Risk - Disclosure of Net Receivables by Region (CRB-1) - Consolidated
(in million Rupiah)
Period of December 31, 2023
Net Receivables by Region
No. Portfolio Category
Eastern Foreign
Sumatra Java Kalimantan Total
Indonesia Operation
(1) (2) (3) (4) (5) (6) (7) (8)
1 Receivables on Sovereigns - 455,677,257 - - 200,323 455,877,580
2 Receivables on Public Sector Entities - 46,141,368 - - - 46,141,368
3 Receivables on Multilateral - - - - - -
Development Banks and International
Institutions
4 Receivables on Banks 254,814 60,038,662 82,310 161,810 118,337 60,655,933
5 Receivables by Covered Bond - - - - - -
6 Receivables to Securities Companies 163,539 45,144,398 682,229 7,017 - 45,997,183
and Other Financial Services
Institutions
7 Receivables in the Form of - 840,103 - - - 840,103
Subordinated Securities, Equity, and
Other Capital Instruments
8 Loans Secured by Residential Property 12,646,670 173,829,079 5,416,358 8,314,072 - 200,206,179
9 Loans Secured by Commercial Real 19,850,423 266,836,271 5,710,675 11,800,158 - 304,197,527
Estate
10 Credit for Land Acquisition, Soil - - - - - -
Processing, and Construction
11 Employee/Retired Loans - 254,391 - - - 254,391
12 Receivables on Micro, Small Business & 4,671,048 83,106,717 2,656,156 3,738,644 - 94,172,565
Retail Portfolio
13 Receivables on Corporate 6,591,439 240,936,018 2,938,749 4,233,795 707,494 255,407,495
14 Past Due Receivables 270,892 4,352,023 73,605 140,505 - 4,837,025
15 Other Assets 3,104,743 56,462,862 742,724 1,943,826 7,966 62,262,121
Total 47,553,568 1,433,619,149 18,302,806 30,339,827 1,034,120 1,530,849,470
2024 Annual Report PT Bank Central Asia Tbk 179
Page 182
Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
14.2a. Credit Risk - Disclosure of Net Receivables by Economic Sectors (CRB-2) - Bank Only
Receivables Receivables
Receivables on Multilateral to Securities
Receivables Receivables
on Public Development Receivables Companies and
No. Economic Sectors on by Covered
Sector Banks and on Banks Other Financial
Sovereigns Bond
Entities International Services
Institutions Institutions
(a) (b) (c) (d) (e) (f) (g) (h)
As of December 31, 2024
1 Agriculture, Forestry, and Fisheries - - - - - 206,306
2 Mining and Quarrying Industries - 2,464,263 - - - -
3 Processing Industries - 1,451,472 - - - 43,760
4 Procurement of Electricity, Gas, Steam/ - 19,542,010 - - - -
Hot Water and Cold Water
5 Water Management, Waste Water - - - - - -
Management, Waste Management and
Recycling
6 Construction - 923,629 - - - -
7 Wholesale and Retail Trade; Car and - 51,391 - - - 6,463
Motorcycle Repair and Maintenance
8 Transportation and Warehousing - 7,602,426 - - - -
9 Hotel and Food & Beverage - - - - - -
10 Information and Communication - 9,575,496 - - - -
11 Financial and Insurance Activities 6,116,796 - - 52,498,285 - 54,493,132
12 Real Estate - - - - - -
13 Professional, Scientific, and Technical - - - - - 6,391
Activities
14 Leasing and Leasing Without Option - - - - - -
Right, Employment, Travel Agencies, and
Other Business Support Activities
15 Public Administration, Defense And 358,964,489 - - - - -
Compulsory Social Security
16 Education Services - - - - - -
17 Human Health and Social Work Activities - - - - - -
18 Art, Entertainment, and Leisure Activities - - - - - -
19 Other Service Activities - - - - - 322
20 Household Activities as Employer; - - - - - -
Activities which Generate Products or
Services by Household, Use for Fulfilling
Self-Needs
21 International institution and Other Extra - - - - - -
International Agency Activities
22 Household Activities - - - - - -
23 Non-Business Field - - - - - 7
24 Others 3,084,971 902,241 - - - -
Total 368,166,256 42,512,928 - 52,498,285 - 54,756,381
180 PT Bank Central Asia Tbk 2024 Annual Report
Page 183
Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
(in million Rupiah)
Receivables
Receivables
in the Form of Loans Loans Credit for Land
on Micro,
Subordinated Secured by Secured by Acquisition, Soil Employee/ Receivables Past Due Other
Small Business
Securities, Equity, Residential Commercial Processing, and Retired Loans on Corporate Receivables Assets
& Retail
and Other Capital Property Real Estate Construction
Portfolio
Instruments
(i) (j) (k) (l) (m) (n) (o) (p) (q)
- 2,539,663 28,392,033 - - 1,558,971 8,344,760 78,315 -
- 917,426 5,791,945 - - 262,346 23,271,270 22,172 -
- 24,527,673 135,472,122 - - 3,048,247 62,202,313 2,096,355 -
- 262,092 6,273,436 - - 74,487 5,566,707 2,836 -
- 202,352 2,777,980 - - 87,955 2,365,182 6,586 -
- 3,287,358 5,437,572 - - 986,197 32,271,268 82,458 -
- 67,996,489 98,355,707 - - 9,907,505 26,113,882 1,386,961 -
- 6,469,953 14,275,418 - - 1,382,229 13,707,041 34,591 -
- 2,041,698 10,443,724 - - 1,296,432 1,926,797 112,200 -
80 684,646 1,852,168 - - 240,341 19,017,415 12,862 -
627,903 164,358 352,938 - - 141,594 2,011,826 827 7,018
- 2,445,617 21,375,176 - - 1,100,462 11,164,299 113,387 -
- 1,632,016 3,020,868 - - 851,248 483,061 25,679 -
- 1,785,898 6,998,376 - - 679,663 2,138,532 27,442 -
- - - - - - - - -
- 151,839 891,383 - - 209,391 319,298 4,533 -
- 872,696 3,901,189 - - 324,588 410,317 9,135 -
- 101,962 358,629 - - 116,824 240,092 154 -
- 576,036 1,628,763 - - 467,598 113,303 7,832 -
- - - - - - - - -
- 15 - - - 175 - - -
- 100,777,529 5,760,532 - - 52,070,777 - 1,209,586 -
- - - - - 20,648,784 307 46,570 -
- - - - - 1,118,561 47,585,546 58,186 68,525,023
627,983 217,437,316 353,359,959 - - 96,574,375 259,253,216 5,338,667 68,532,041
2024 Annual Report PT Bank Central Asia Tbk 181
Page 184
Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
14.2a. Credit Risk - Disclosure of Net Receivables by Economic Sectors (CRB-2) - Bank Only
Receivables Receivables
Receivables on Multilateral to Securities
Receivables Receivables
on Public Development Receivables Companies and
No. Economic Sectors on by Covered
Sector Banks and on Banks Other Financial
Sovereigns Bond
Entities International Services
Institutions Institutions
(a) (b) (c) (d) (e) (f) (g) (h)
As of December 31, 2023
1 Agriculture, Forestry, and Fisheries - 283,311 - - - 679,038
2 Mining and Quarrying Industries - 1,589,240 - - - 231
3 Processing Industries - 1,860,267 - - - 234,105
4 Procurement of Electricity, Gas, Steam/ - 9,919,274 - - - -
Hot Water and Cold Water
5 Water Management, Waste Water - - - - - -
Management, Waste Management and
Recycling
6 Construction - 2,318,930 - - - 2,838
7 Wholesale and Retail Trade; Car and - - - - - 99,578
Motorcycle Repair and Maintenance
8 Transportation and Warehousing - 4,781,787 - - - 879
9 Hotel and Food & Beverage - - - - - 6,574
10 Information and Communication - 8,890,611 - - - 1,017
11 Financial and Insurance Activities 2,627,417 11,277,779 - 59,300,418 - 45,676,193
12 Real Estate - - - - - -
13 Professional, Scientific, and Technical - - - - - 2,618
Activities
14 Leasing and Leasing Without Option - - - - - 4,194
Right, Employment, Travel Agencies, and
Other Business Support Activities
15 Public Administration, Defense And 439,746,249 - - - - -
Compulsory Social Security
16 Education Services - - - - - -
17 Human Health and Social Work Activities - - - - - -
18 Art, Entertainment, and Leisure Activities - - - - - -
19 Other Service Activities - 2,758,563 - - - -
20 Household Activities as Employer; - - - - - -
Activities which Generate Products or
Services by Household, Use for Fulfilling
Self-Needs
21 International institution and Other Extra - - - - - -
International Agency Activities
22 Household Activities - - - - - -
23 Non-Business Field - - - - - 8
24 Others 2,800,532 1,790,769 - - - -
Total 445,174,198 45,470,531 - 59,300,418 - 46,707,273
182 PT Bank Central Asia Tbk 2024 Annual Report
Page 185
Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
(in million Rupiah)
Receivables
Receivables
in the Form of Loans Loans Credit for Land
on Micro,
Subordinated Secured by Secured by Acquisition, Soil Employee/ Receivables Past Due Other
Small Business
Securities, Equity, Residential Commercial Processing, and Retired Loans on Corporate Receivables Assets
& Retail
and Other Capital Property Real Estate Construction
Portfolio
Instruments
(i) (j) (k) (l) (m) (n) (o) (p) (q)
- 2,478,673 24,079,504 - - 1,581,628 9,571,121 50,060 -
- 737,278 882,080 - - 194,487 17,294,432 1,004 -
- 23,732,985 124,109,105 - - 2,336,407 55,176,440 2,174,287 -
- 282,759 2,661,057 - - 45,198 3,913,678 2,734 -
- 62,360 331,026 - - 60,984 2,206,756 2,896 -
- 3,702,059 4,774,517 - - 670,441 26,090,597 113,313 -
- 62,443,583 91,297,646 - - 8,635,017 27,577,459 1,168,065 -
- 4,914,983 12,117,937 - - 1,024,712 9,814,144 59,299 -
- 1,577,052 10,414,460 - - 1,253,556 1,828,436 34,186 -
80 677,015 796,081 - - 185,569 17,697,167 13,773 -
538,510 188,576 202,541 - - 113,650 3,400,436 27 -
- 2,017,397 13,888,291 - - 974,026 8,925,181 37,963 -
- 1,541,740 2,502,981 - - 590,237 292,297 8,222 -
- 1,627,292 4,700,355 - - 568,444 3,640,523 12,878 -
- - - - - - - - -
- 76,706 784,633 - - 125,796 299,528 773 -
- 805,097 3,436,142 - - 236,965 436,348 4,837 -
- 56,037 299,189 - - 89,172 103,100 11,303 -
- 495,405 1,420,588 - - 320,477 105,134 5,325 -
- - - - - - - - -
- 32 - - - 429 - - -
- 92,119,424 5,309,330 - - 44,197,983 - 947,948 -
- - - - - 18,448,053 723 31,217 -
- - - - - 1,163,139 52,616,587 61,248 60,960,017
538,590 199,536,453 304,007,463 - - 82,816,370 240,990,087 4,741,358 60,960,017
2024 Annual Report PT Bank Central Asia Tbk 183
Page 186
Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
14.2b Credit Risk - Disclosure of Net Receivables by Economic Sectors (CRB-2) - Consolidated
Receivables Receivables
Receivables on Multilateral to Securities
Receivables Receivables
on Public Development Receivables Companies and
No. Economic Sectors on by Covered
Sector Banks and on Banks Other Financial
Sovereigns Bond
Entities International Services
Institutions Institutions
(a) (b) (c) (d) (e) (f) (g) (h)
As of December 31, 2024
1 Agriculture, Forestry, and Fisheries - - - - - 206,306
2 Mining and Quarrying Industries - 2,464,263 - - - -
3 Processing Industries - 1,451,472 - - - 43,760
4 Procurement of Electricity, Gas, Steam/ - 19,983,313 - - - -
Hot Water and Cold Water
5 Water Management, Waste Water - - - - - -
Management, Waste Management and
Recycling
6 Construction - 994,827 - - - -
7 Wholesale and Retail Trade; Car and - 51,391 - - - 6,463
Motorcycle Repair and Maintenance
8 Transportation and Warehousing - 7,602,426 - - - -
9 Hotel and Food & Beverage - - - - - -
10 Information and Communication - 9,575,496 - - - -
11 Financial and Insurance Activities 10,632,048 4,319 - 54,915,727 - 54,175,342
12 Real Estate - - - - - -
13 Professional, Scientific, and Technical - - - - - 6,391
Activities
14 Leasing and Leasing Without Option - 135 - - - -
Right, Employment, Travel Agencies, and
Other Business Support Activities
15 Public Administration, Defense And 364,320,855 - - - - -
Compulsory Social Security
16 Education Services - 10,145 - - - -
17 Human Health and Social Work Activities - - - - - -
18 Art, Entertainment, and Leisure Activities - - - - - -
19 Other Service Activities - - - - - 322
20 Household Activities as Employer; - - - - - -
Activities which Generate Products or
Services by Household, Use for Fulfilling
Self-Needs
21 International institution and Other Extra - - - - - -
International Agency Activities
22 Household Activities - - - - - -
23 Non-Business Field - - - - - 7
24 Others 3,084,971 902,241 - - - -
Total 378,037,874 43,040,028 - 54,915,727 - 54,438,591
184 PT Bank Central Asia Tbk 2024 Annual Report
Page 187
Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
(in million Rupiah)
Receivables
Receivables
in the Form of Loans Loans Credit for Land
on Micro,
Subordinated Secured by Secured by Acquisition, Soil Employee/ Receivables Past Due Other
Small Business
Securities, Equity, Residential Commercial Processing, and Retired Loans on Corporate Receivables Assets
& Retail
and Other Capital Property Real Estate Construction
Portfolio
Instruments
(i) (j) (k) (l) (m) (n) (o) (p) (q)
- 2,539,663 28,392,033 - 196,483 2,090,101 9,402,255 85,873 -
- 917,426 5,791,945 - - 474,331 24,576,891 23,997 -
- 24,527,673 135,472,122 - - 4,250,347 67,101,275 2,110,537 -
- 262,092 6,273,436 - - 101,245 5,752,941 3,132 -
- 202,352 2,777,980 - - 121,667 2,367,998 7,034 -
- 3,287,831 5,437,572 - - 1,352,433 32,736,868 86,955 -
- 67,997,027 98,357,285 - - 12,830,245 28,451,791 1,420,999 -
- 6,469,953 14,284,537 - - 1,668,302 14,464,320 37,340 -
- 2,042,153 10,445,614 - - 1,804,399 2,102,651 119,799 -
80 684,646 1,852,168 - - 406,603 19,887,438 14,154 -
659,046 164,358 352,938 - - 509,853 5,836,160 3,023 7,018
- 2,445,617 21,471,969 - - 1,223,557 11,577,227 114,287 -
- 1,632,016 3,020,868 - - 1,060,818 501,680 26,959 -
- 1,785,898 6,998,376 - - 966,898 2,719,755 31,038 -
- - - - - 396,764 1,081 4,620 -
- 151,839 891,383 - - 544,629 359,226 7,335 -
- 873,964 3,901,189 - - 846,141 425,775 13,762 -
- 101,962 358,629 - - 196,576 244,056 1,315 -
- 576,036 1,628,763 - - 1,936,784 116,645 21,212 -
- - - - - 794 90 18 -
- 15 - - - 175 - - -
- 101,966,411 5,774,562 - 4,526 54,290,404 59,029 1,219,427 -
- 110 - - - 20,805,086 923 46,616 -
- - - - - 1,572,846 47,585,546 58,186 70,187,045
659,126 218,629,042 353,483,369 - 201,009 109,450,998 276,271,621 5,457,618 70,194,063
2024 Annual Report PT Bank Central Asia Tbk 185
Page 188
Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
14.2b Credit Risk - Disclosure of Net Receivables by Economic Sectors (CRB-2) - Consolidated
Receivables Receivables
Receivables on Multilateral to Securities
Receivables Receivables
on Public Development Receivables Companies and
No. Economic Sectors on by Covered
Sector Banks and on Banks Other Financial
Sovereigns Bond
Entities International Services
Institutions Institutions
(a) (b) (c) (d) (e) (f) (g) (h)
As of December 31, 2023
1 Agriculture, Forestry, and Fisheries - 283,311 - - - 679,038
2 Mining and Quarrying Industries - 1,589,240 - - - 231
3 Processing Industries - 1,860,267 - - - 234,105
4 Procurement of Electricity, Gas, Steam/ - 10,344,274 - - - -
Hot Water and Cold Water
5 Water Management, Waste Water - - - - - -
Management, Waste Management and
Recycling
6 Construction - 2,345,922 - - - 2,838
7 Wholesale and Retail Trade; Car and - - - 1,011 - 99,578
Motorcycle Repair and Maintenance
8 Transportation and Warehousing - 4,781,787 - - - 879
9 Hotel and Food & Beverage - - - - - 6,574
10 Information and Communication - 8,890,611 - - - 1,017
11 Financial and Insurance Activities 9,911,629 11,466,689 - 60,159,136 - 44,966,103
12 Real Estate - - - - - -
13 Professional, Scientific, and Technical - - - - - 2,618
Activities
14 Leasing and Leasing Without Option - 175 - - - 4,194
Right, Employment, Travel Agencies, and
Other Business Support Activities
15 Public Administration, Defense And 443,165,419 - - 495,786 - -
Compulsory Social Security
16 Education Services - 29,760 - - - -
17 Human Health and Social Work Activities - - - - - -
18 Art, Entertainment, and Leisure Activities - - - - - -
19 Other Service Activities - 2,758,563 - - - -
20 Household Activities as Employer; - - - - - -
Activities which Generate Products or
Services by Household, Use for Fulfilling
Self-Needs
21 International institution and Other Extra - - - - - -
International Agency Activities
22 Household Activities - - - - - -
23 Non-Business Field - - - - - 8
24 Others 2,800,532 1,790,769 - - - -
Total 455,877,580 46,141,368 - 60,655,933 - 45,997,183
186 PT Bank Central Asia Tbk 2024 Annual Report
Page 189
Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
(in million Rupiah)
Receivables
Receivables
in the Form of Loans Loans Credit for Land
on Micro,
Subordinated Secured by Secured by Acquisition, Soil Employee/ Receivables Past Due Other
Small Business
Securities, Equity, Residential Commercial Processing, and Retired Loans on Corporate Receivables Assets
& Retail
and Other Capital Property Real Estate Construction
Portfolio
Instruments
(i) (j) (k) (l) (m) (n) (o) (p) (q)
- 2,478,673 24,079,504 - 241,489 1,971,045 10,740,622 55,379 -
- 737,278 882,080 - - 368,411 17,673,782 1,876 -
- 23,732,985 124,128,665 - - 3,415,944 57,707,485 2,185,409 -
- 282,759 2,661,057 - - 64,373 3,922,266 2,788 -
- 62,360 331,026 - - 93,581 2,210,026 3,572 -
- 3,702,059 4,820,517 - - 969,736 27,292,294 115,971 -
- 62,443,583 91,297,646 - - 10,512,419 29,695,580 1,191,308 -
- 4,914,983 12,181,890 - - 1,271,282 11,078,643 61,357 -
- 1,577,432 10,414,460 - - 1,640,845 2,054,752 39,533 -
80 677,015 796,081 - - 339,469 18,045,704 14,846 -
812,866 188,576 202,541 - - 374,437 5,244,200 1,668 -
- 2,017,397 13,931,843 - - 1,073,329 9,303,116 38,990 -
- 1,541,740 2,502,981 - - 741,946 306,960 9,166 -
- 1,627,292 4,700,355 - - 905,983 4,371,079 15,978 -
- - - - - 375,710 1,653,623 3,664 -
- 76,706 784,633 - - 2,057,299 389,573 17,703 -
- 805,463 3,436,142 - - 541,874 452,016 6,831 -
- 56,037 299,189 - - 163,579 106,910 12,049 -
- 495,405 1,420,588 - - 1,073,144 108,490 8,118 -
- - - - - 17 32 - -
- 32 - - - 429 - - -
- 92,788,404 5,326,329 - 12,902 45,848,046 251,536 958,354 -
- - - - - 18,501,181 182,219 31,217 -
27,157 - - - - 1,868,486 52,616,587 61,248 62,262,121
840,103 200,206,179 304,197,527 - 254,391 94,172,565 255,407,495 4,837,025 62,262,121
2024 Annual Report PT Bank Central Asia Tbk 187
Page 190
Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
14.3a. Credit Risk - Disclosure of Net Receivables by Contractual Maturity (CRB-3) - Bank Only
(in million Rupiah)
Period of December 31, 2024
Net Receivables by Contractual Maturity
No. Portfolio Category
>1 year to >3 year to Non-
≤ 1 year > 5 years Total
3 years 5 years Contractual
(1) (2) (3) (4) (5) (6) (7) (8)
1 Receivables on Sovereigns 170,512,358 81,728,621 91,516,636 24,408,641 - 368,166,256
2 Receivables on Public Sector Entities 4,566,666 5,234,754 2,777,797 29,933,711 - 42,512,928
3 Receivables on Multilateral Development - - - - - -
Banks and International Institutions
4 Receivables on Banks 38,510,699 12,904,435 989,604 93,547 - 52,498,285
5 Receivables by Covered Bond - - - - - -
6 Receivables to Securities Companies and 22,794,960 31,217,684 743,737 - - 54,756,381
Other Financial Services Institutions
7 Receivables in the Form of Subordinated - - - - 627,983 627,983
Securities, Equity, and Other Capital
Instruments
8 Loans Secured by Residential Property 88,480,417 19,592,016 25,467,710 83,897,173 - 217,437,316
9 Loans Secured by Commercial Real 174,334,232 30,488,077 46,011,168 102,526,482 - 353,359,959
Estate
10 Credit for Land Acquisition, Soil - - - - - -
Processing, and Construction
11 Employee/Retired Loans - - - - - -
12 Receivables on Micro, Small Business & 17,846,096 34,735,526 30,939,563 13,053,190 - 96,574,375
Retail Portfolio
13 Receivables on Corporate 108,480,772 37,646,129 38,078,905 75,047,410 - 259,253,216
14 Past Due Receivables 1,981,364 607,027 585,587 2,164,689 - 5,338,667
15 Other Assets - - - - 68,532,041 68,532,041
Total 627,507,564 254,154,269 237,110,707 331,124,843 69,160,024 1,519,057,407
14.3a. Credit Risk - Disclosure of Net Receivables by Contractual Maturity (CRB-3) - Bank Only
(in million Rupiah)
Period of December 31, 2023
Net Receivables by Contractual Maturity
No. Portfolio Category
>1 year to >3 year to Non-
≤ 1 year > 5 years Total
3 years 5 years Contractual
(1) (2) (3) (4) (5) (6) (7) (8)
1 Receivables on Sovereigns 259,715,665 74,492,328 68,288,390 42,677,815 - 445,174,198
2 Receivables on Public Sector Entities 16,763,999 6,260,650 3,456,990 18,988,892 - 45,470,531
3 Receivables on Multilateral Development - - - - - -
Banks and International Institutions
4 Receivables on Banks 43,714,415 15,228,506 262,328 95,169 - 59,300,418
5 Receivables by Covered Bond - - - - - -
6 Receivables to Securities Companies and 10,012,939 28,518,197 3,610,001 4,566,136 - 46,707,273
Other Financial Services Institutions
7 Receivables in the Form of Subordinated - - - - 538,590 538,590
Securities, Equity, and Other Capital
Instruments
8 Loans Secured by Residential Property 83,916,395 16,560,903 23,651,163 75,407,992 - 199,536,453
9 Loans Secured by Commercial Real 161,154,956 22,527,811 41,146,304 79,178,392 - 304,007,463
Estate
10 Credit for Land Acquisition, Soil - - - - - -
Processing, and Construction
11 Employee/Retired Loans - - - - - -
12 Receivables on Micro, Small Business & 14,536,505 28,866,474 28,130,215 11,283,176 - 82,816,370
Retail Portfolio
13 Receivables on Corporate 109,393,321 29,924,821 43,395,104 58,276,841 - 240,990,087
14 Past Due Receivables 2,200,805 259,276 614,007 1,667,270 - 4,741,358
15 Other Assets - - - - 60,960,017 60,960,017
Total 701,409,000 222,638,966 212,554,502 292,141,683 61,498,607 1,490,242,758
188 PT Bank Central Asia Tbk 2024 Annual Report
Page 191
Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
14.3b. Credit Risk - Disclosure of Net Receivables by Contractual Maturity (CRB-3) - Consolidated
(in million Rupiah)
Period of December 31, 2024
Net Receivables by Contractual Maturity
No. Portfolio Category
>1 year to >3 year to Non-
≤ 1 year > 5 years Total
3 years 5 years Contractual
(1) (2) (3) (4) (5) (6) (7) (8)
1 Receivables on Sovereigns 178,669,930 82,725,065 91,641,323 25,001,556 - 378,037,874
2 Receivables on Public Sector Entities 4,784,264 5,283,542 2,838,511 30,133,711 - 43,040,028
3 Receivables on Multilateral Development - - - - - -
Banks and International Institutions
4 Receivables on Banks 40,699,895 13,056,693 1,065,592 93,547 - 54,915,727
5 Receivables by Covered Bond - - - - - -
6 Receivables to Securities Companies and 22,477,170 31,217,684 743,737 - - 54,438,591
Other Financial Services Institutions
7 Receivables in the Form of Subordinated - - - - 659,126 659,126
Securities, Equity, and Other Capital
Instruments
8 Loans Secured by Residential Property 89,540,921 19,602,656 25,541,245 83,944,220 - 218,629,042
9 Loans Secured by Commercial Real 174,403,575 30,490,588 46,013,058 102,576,148 - 353,483,369
Estate
10 Credit for Land Acquisition, Soil - - - - - -
Processing, and Construction
11 Employee/Retired Loans 139,484 14,485 27,462 19,578 - 201,009
12 Receivables on Micro, Small Business & 22,430,921 39,018,471 34,280,785 13,720,821 - 109,450,998
Retail Portfolio
13 Receivables on Corporate 116,944,073 41,836,231 40,904,278 76,587,039 - 276,271,621
14 Past Due Receivables 2,019,970 638,733 626,420 2,172,495 - 5,457,618
15 Other Assets 103,501 382,081 - - 69,708,481 70,194,063
Total 652,213,704 264,266,229 243,682,411 334,249,115 70,367,607 1,564,779,066
14.3b. Credit Risk - Disclosure of Net Receivables by Contractual Maturity (CRB-3) - Consolidated
(in million Rupiah)
Period of December 31, 2023
Net Receivables by Contractual Maturity
No. Portfolio Category
>1 year to >3 year to Non-
≤ 1 year > 5 years Total
3 years 5 years Contractual
(1) (2) (3) (4) (5) (6) (7) (8)
1 Receivables on Sovereigns 266,253,164 76,929,655 68,892,153 43,802,608 - 455,877,580
2 Receivables on Public Sector Entities 16,901,701 6,296,360 3,502,423 19,440,884 - 46,141,368
3 Receivables on Multilateral Development - - - - - -
Banks and International Institutions
4 Receivables on Banks 44,551,204 15,663,431 346,129 95,169 - 60,655,933
5 Receivables by Covered Bond - - - - - -
6 Receivables to Securities Companies and 9,302,849 28,518,197 3,610,001 4,566,136 - 45,997,183
Other Financial Services Institutions
7 Receivables in the Form of Subordinated - - - - 840,103 840,103
Securities, Equity, and Other Capital
Instruments
8 Loans Secured by Residential Property 83,919,827 16,583,495 23,737,309 75,965,548 - 200,206,179
9 Loans Secured by Commercial Real 161,205,627 22,533,228 41,212,513 79,246,159 - 304,197,527
Estate
10 Credit for Land Acquisition, Soil - - - - - -
Processing, and Construction
11 Employee/Retired Loans 6,475 51,076 80,146 116,694 - 254,391
12 Receivables on Micro, Small Business & 18,322,033 33,048,595 30,980,717 11,821,220 - 94,172,565
Retail Portfolio
13 Receivables on Corporate 115,909,852 33,620,880 45,764,945 60,111,818 - 255,407,495
14 Past Due Receivables 2,215,171 288,407 657,862 1,675,585 - 4,837,025
15 Other Assets 516,725 361 - - 61,745,035 62,262,121
Total 719,104,628 233,533,685 218,784,198 296,841,821 62,585,138 1,530,849,470
2024 Annual Report PT Bank Central Asia Tbk 189
Page 192
Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
14.4a. Credit Risk - Disclosure of Receivables and Provisioning by Region (CRB-4) - Bank Only
(in million Rupiah)
Period of December 31, 2024
Net Receivables by Region
No. Description
Eastern
Sumatra Java Kalimantan Total
Indonesia
(1) (2) (3) (4) (5) (6) (7)
1 Receivables 61,563,591 1,687,650,926 23,609,909 35,762,609 1,808,587,035
2 Increased and impaired credit risk
receivables (Stage 2 and Stage 3)
a. Non Past Due 1,051,647 19,750,623 273,517 218,250 21,294,037
b. Past Due 444,470 15,255,601 417,075 497,406 16,614,552
3 Allowance for impairment losses - Stage 1 926,490 13,132,988 278,683 546,011 14,884,172
4 Allowance for impairment losses - Stage 2 502,540 9,361,692 110,737 31,646 10,006,615
5 Allowance for impairment losses - Stage 3 191,594 10,721,580 247,513 224,859 11,385,546
6 Written-off receivables 19,973 3,213,645 36,923 24,705 3,295,246
14.4a. Credit Risk - Disclosure of Receivables and Provisioning by Region (CRB-4) - Bank Only
(in million Rupiah)
Period of December 31, 2023
Net Receivables by Region
No. Description
Eastern
Sumatra Java Kalimantan Total
Indonesia
(1) (2) (3) (4) (5) (6) (7)
1 Receivables 54,405,384 1,639,510,811 20,836,418 31,583,138 1,746,335,751
2 Impaired Loss Receivables
a. Non Past Due 1,325,092 18,501,920 644,797 372,883 20,844,692
b. Past Due 554,571 14,174,834 158,992 249,763 15,138,160
3 Allowance for impairment losses - Stage 1 782,933 14,593,257 244,763 637,977 16,258,930
4 Allowance for impairment losses - Stage 2 689,573 9,242,353 447,305 92,572 10,471,803
5 Allowance for impairment losses - Stage 3 322,693 10,016,982 89,689 122,596 10,551,960
6 Written-off receivables 63,106 2,299,060 22,070 104,248 2,488,484
190 PT Bank Central Asia Tbk 2024 Annual Report
Page 193
Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
14.4b. Credit Risk - Disclosure of Receivables and Provisioning by Region (CRB-4) - Consolidated
(in million Rupiah)
Period of December 31, 2024
Net Receivables by Region
No. Description
Eastern Foreign
Sumatra Java Kalimantan Total
Indonesia Operation
(1) (2) (3) (4) (5) (6) (7) (8)
1 Receivables 65,591,336 1,718,602,552 25,194,340 37,725,478 404,394 1,847,518,100
2 Increased and impaired credit risk
receivables (Stage 2 and Stage 3)
a. Non Past Due 1,182,752 20,430,731 291,312 237,747 - 22,142,542
b. Past Due 504,570 15,578,190 439,148 515,405 - 17,037,313
3 Allowance for impairment losses - Stage 1 975,321 13,461,986 296,938 572,054 - 15,306,299
4 Allowance for impairment losses - Stage 2 511,083 9,399,192 114,052 35,222 - 10,059,549
5 Allowance for impairment losses - Stage 3 271,542 11,319,428 263,150 239,257 - 12,093,377
6 Written-off receivables 123,891 3,655,923 67,076 56,577 - 3,903,467
14.4b. Credit Risk - Disclosure of Receivables and Provisioning by Region (CRB-4) - Consolidated
(in million Rupiah)
Period of December 31, 2023
Net Receivables by Region
No. Description
Eastern Foreign
Sumatra Java Kalimantan Total
Indonesia Operation
(1) (2) (3) (4) (5) (6) (7) (8)
1 Receivables 56,644,432 1,666,539,916 21,467,156 32,886,431 1,159,358 1,778,697,293
2 Impaired Loss Receivables
a. Non Past Due 1,370,409 19,254,226 657,092 385,919 - 21,667,646
b. Past Due 590,023 14,419,324 168,313 260,697 - 15,438,357
3 Allowance for impairment losses - Stage 1 824,499 14,918,861 256,782 656,935 1,734 16,658,811
4 Allowance for impairment losses - Stage 2 693,485 9,470,173 448,720 93,936 - 10,706,314
5 Allowance for impairment losses - Stage 3 350,840 10,286,048 96,289 130,503 - 10,863,680
6 Written-off receivables 160,518 2,529,168 34,785 115,532 - 2,840,003
2024 Annual Report PT Bank Central Asia Tbk 191
Page 194
Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
14.5a. Credit Risk - Disclosure of Receivables and Provisioning based on Economic Sectors (CRB-5) - Bank Only
(in million Rupiah)
Impaired Receivables Allowance for Allowance for Allowance for
Impairment Impairment Impairment Written-Off
No. Economic Sectors Receivables
Non Past Losses - Losses - Losses - Receivables
Past Due Stage 1 Stage 2 Stage 3
Due
(1) (2) (3) (4) (5) (6) (7) (8) (9)
As of December 31, 2024
1 Agriculture, Forestry, and 47,554,246 47,478 276,658 724,085 3,660 198,590 18,550
Fisheries
2 Mining and Quarrying 51,647,233 139,221 30,803 273,186 94,639 8,631 801
Industries
3 Processing Industries 324,501,867 4,178,365 8,652,768 4,069,001 2,481,361 6,556,366 738,207
4 Procurement of Electricity, 38,565,449 1,172 4,057 241,783 189 1,221 285
Gas, Steam/Hot Water and
Cold Water
5 Water Management, Waste 6,873,598 3,060 10,458 74,342 200 3,885 4,754
Water Management, Waste
Management and
Recycling
6 Construction 51,198,374 256,320 213,782 798,050 138,257 131,531 41,544
7 Wholesale and Retail Trade; 275,683,423 2,794,602 3,500,692 4,350,064 1,557,051 2,117,956 663,504
Car and Motorcycle Repair
and Maintenance
8 Transportation and 53,001,857 38,278 51,729 672,965 2,837 17,464 7,749
Werehousing
9 Hotel and Food & Beverage 20,630,843 5,056,276 240,593 361,616 2,277,608 128,501 15,826
10 Information and 39,783,855 776,743 32,747 255,620 401,470 19,955 1,637
Communication
11 Financial and Insurance 171,747,430 2,277 2,099 595,642 52 3,073 2,960
Activities
12 Real Estate 41,569,632 4,509,898 231,895 603,752 2,354,384 118,512 4,812
13 Professional, Scientific, and 7,598,428 242,576 39,995 96,955 103,976 15,613 5,105
Technical Activities
14 Leasing and Leasing Without 13,462,787 66,319 40,505 249,694 38,345 13,115 4,793
Option Right, Employment,
Travel Agencies, and Other
Business Support Activities
15 Public Administration, Defense 379,652,045 - - 96 - - 314
And Compulsory Social
Security
16 Education Services 1,914,995 465 6,897 25,672 82 2,377 722
17 Human Health and Social Work 6,262,885 1,618 14,319 90,991 119 5,228 615
Activities
18 Art, Entertainment, and 938,927 1,900 4,488 18,991 304 4,334 873
Leisure Activities
19 Other Service Activities 3,385,600 17,464 14,576 64,493 1,841 7,121 4,692
20 Household Activities as - - - - - - -
Employer; Activities which
Generate Products or Services
by Household, Use for Fulfilling
Self-Needs
21 International institution and 190 - - - - - -
Other Extra International
Agency Activities
22 Household Activities 162,084,497 2,542,221 2,605,150 493,574 362,797 1,443,153 1,096,154
23 Non-Business Field 48,792,318 269,320 191,166 538,426 65,326 155,428 295,178
24 Others 61,736,556 348,464 449,175 285,174 122,117 433,492 386,171
Total 1,808,587,035 21,294,037 16,614,552 14,884,172 10,006,615 11,385,546 3,295,246
192 PT Bank Central Asia Tbk 2024 Annual Report
Page 195
Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
14.5a. Credit Risk - Disclosure of Receivables and Provisioning based on Economic Sectors (CRB-5) - Bank Only
(in million Rupiah)
Impaired Receivables Allowance for Allowance for Allowance for
Impairment Impairment Impairment Written-Off
No. Economic Sectors Receivables
Non Past Losses - Losses - Losses - Receivables
Past Due Stage 1 Stage 2 Stage 3
Due
(1) (2) (3) (4) (5) (6) (7) (8) (9)
As of December 31, 2023
1 Agriculture, Forestry, and 46,988,338 69,698 209,568 842,217 16,884 159,932 21,087
Fisheries
2 Mining and Quarrying 37,111,481 8,635 1,667 189,336 944 699 1,628
Industries
3 Processing Industries 295,045,386 4,250,811 8,637,003 4,346,626 2,476,302 6,461,097 250,808
4 Procurement of Electricity, 22,641,630 555 3,617 123,223 46 883 188
Gas, Steam/Hot Water and
Cold Water
5 Water Management, Waste 4,255,108 20,258 7,954 77,030 7,162 5,206 4,511
Water Management, Waste
Management and
Recycling
6 Construction 46,383,483 153,827 246,252 804,722 6,983 133,207 26,804
7 Wholesale and Retail Trade; 263,122,852 2,943,447 2,897,702 4,498,357 1,532,967 1,755,481 836,655
Car and Motorcycle Repair
and Maintenance
8 Transportation and 40,671,910 24,312 263,069 615,296 2,952 203,777 4,871
Werehousing
9 Hotel and Food & Beverage 18,868,662 3,015,857 99,594 489,921 1,730,088 66,221 88,085
10 Information and 34,011,132 871,835 18,739 223,427 467,583 4,990 2,623
Communication
11 Financial and Insurance 162,772,222 5,223 1,919 602,770 264 3,662 2,588
Activities
12 Real Estate 31,908,954 5,916,354 108,821 620,634 3,432,326 70,865 116,547
13 Professional, Scientific, and 6,182,467 710,422 20,223 86,469 362,770 13,546 5,046
Technical Activities
14 Leasing and Leasing Without 12,834,871 97,001 24,336 220,545 53,135 11,519 12,013
Option Right, Employment,
Travel Agencies, and Other
Business Support Activities
15 Public Administration, Defense 453,545,291 - - 300 - - 116
And Compulsory Social
Security
16 Education Services 1,506,295 1,152 1,398 22,567 164 638 765
17 Human Health and Social Work 5,769,155 874 6,471 110,772 115 1,634 1,128
Activities
18 Art, Entertainment, and 657,287 2,960 17,926 14,948 96 6,742 763
Leisure Activities
19 Other Service Activities 5,524,849 13,691 8,549 935,940 1,763 3,390 7,791
20 Household Activities as - - - - - - -
Employer; Activities which
Generate Products or Services
by Household, Use for Fulfilling
Self-Needs
21 International institution and 461 - - 1 - - -
Other Extra International
Agency Activities
22 Household Activities 144,243,773 2,458,645 2,060,299 603,928 300,048 1,212,774 844,309
23 Non-Business Field 44,302,763 203,735 136,361 521,315 50,801 113,499 260,158
24 Others 67,987,381 75,400 366,692 308,586 28,410 322,198 -
Total 1,746,335,751 20,844,692 15,138,160 16,258,930 10,471,803 10,551,960 2,488,484
2024 Annual Report PT Bank Central Asia Tbk 193
Page 196
Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
14.5b. Credit Risk - Disclosure of Receivables and Provisioning based on Economic Sectors (CRB-5) - Consolidated
(in million Rupiah)
Impaired Receivables Allowance for Allowance for Allowance for
Impairment Impairment Impairment Written-Off
No. Economic Sectors Receivables
Non Past Losses - Losses - Losses - Receivables
Past Due Stage 1 Stage 2 Stage 3
Due
(1) (2) (3) (4) (5) (6) (7) (8) (9)
As of December 31, 2024
1 Agriculture, Forestry, and 49,381,277 62,602 299,376 755,695 5,575 216,840 42,533
Fisheries
2 Mining and Quarrying 53,365,111 142,512 35,212 296,545 95,187 11,564 4,509
Industries
3 Processing Industries 331,539,724 4,478,523 8,693,801 4,114,700 2,483,799 6,782,925 790,168
4 Procurement of Electricity, 39,220,851 1,739 5,028 246,287 224 1,995 1,146
Gas, Steam/Hot Water and
Cold Water
5 Water Management, Waste 6,911,742 3,600 11,920 74,800 255 4,957 6,862
Water Management, Waste
Management and
Recycling
6 Construction 52,198,055 263,545 227,291 808,342 139,149 142,020 52,423
7 Wholesale and Retail Trade; 281,527,044 2,983,906 3,638,653 4,408,823 1,563,974 2,288,375 799,860
Car and Motorcycle Repair
and Maintenance
8 Transportation and 54,279,635 156,844 60,693 681,894 4,118 131,897 14,774
Werehousing
9 Hotel and Food & Beverage 21,342,451 5,068,769 262,594 370,503 2,279,424 144,409 38,132
10 Information and 41,078,855 779,255 36,951 277,080 401,787 23,218 5,156
Communication
11 Financial and Insurance 172,384,159 6,759 9,563 624,529 746 8,884 8,355
Activities
12 Real Estate 42,182,043 4,511,708 234,453 625,356 2,354,657 120,382 8,370
13 Professional, Scientific, and 7,835,395 245,178 44,894 100,441 104,330 19,594 8,890
Technical Activities
14 Leasing and Leasing Without 14,586,050 71,979 51,251 259,249 39,020 21,102 15,579
Option Right, Employment,
Travel Agencies, and Other
Business Support Activities
15 Public Administration, Defense 387,786,370 7,600 11,899 5,614 1,235 7,943 13,443
And Compulsory Social
Security
16 Education Services 2,317,802 25,962 15,761 31,864 713 16,441 11,056
17 Human Health and Social Work 6,819,923 11,819 30,061 98,585 1,633 17,847 10,318
Activities
18 Art, Entertainment, and 1,026,669 3,282 8,155 20,030 506 6,996 3,504
Leisure Activities
19 Other Service Activities 4,891,093 42,437 42,890 81,794 5,756 22,791 67,021
20 Household Activities as 1,099 30 205 19 5 192 32
Employer; Activities which
Generate Products or Services
by Household, Use for Fulfilling
Self-Needs
21 International institution and 190 - - - - - -
Other Extra International
Agency Activities
22 Household Activities 165,678,896 2,656,682 2,676,180 597,470 390,012 1,513,990 1,319,981
23 Non-Business Field 48,949,488 269,347 191,307 538,738 65,327 155,523 295,184
24 Others 62,214,178 348,464 449,175 287,941 122,117 433,492 386,171
Total 1,847,518,100 22,142,542 17,037,313 15,306,299 10,059,549 12,093,377 3,903,467
194 PT Bank Central Asia Tbk 2024 Annual Report
Page 197
Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
14.5b. Credit Risk - Disclosure of Receivables and Provisioning based on Economic Sectors (CRB-5) - Consolidated
(in million Rupiah)
Impaired Receivables Allowance for Allowance for Allowance for
Impairment Impairment Impairment Written-Off
No. Economic Sectors Receivables
Non Past Losses - Losses - Losses - Receivables
Past Due Stage 1 Stage 2 Stage 3
Due
(1) (2) (3) (4) (5) (6) (7) (8) (9)
As of December 31, 2023
1 Agriculture, Forestry, and 48,848,975 81,553 220,026 861,577 18,187 166,306 33,717
Fisheries
2 Mining and Quarrying 37,525,358 11,277 3,669 193,802 1,296 2,009 3,666
Industries
3 Processing Industries 300,702,846 4,631,441 8,713,409 4,403,591 2,577,536 6,532,765 279,298
4 Procurement of Electricity, 23,203,183 853 3,882 128,906 133 1,098 265
Gas, Steam/Hot Water and
Cold Water
5 Water Management, Waste 4,292,769 20,910 9,622 77,749 7,262 6,223 5,682
Water Management, Waste
Management and
Recycling
6 Construction 49,516,865 230,561 252,970 855,867 8,707 138,144 35,503
7 Wholesale and Retail Trade; 266,574,209 2,986,680 2,951,507 4,552,599 1,536,879 1,860,909 912,977
Car and Motorcycle Repair
and Maintenance
8 Transportation and 41,581,815 117,091 266,741 623,253 64,323 205,822 14,748
Werehousing
9 Hotel and Food & Beverage 19,356,466 3,026,294 110,524 498,544 1,731,017 73,282 97,714
10 Information and 34,623,218 874,097 20,907 229,499 467,877 6,347 5,067
Communication
11 Financial and Insurance 164,930,580 8,568 5,804 621,993 661 6,164 6,794
Activities
12 Real Estate 32,467,920 5,968,040 110,665 643,952 3,480,989 71,941 118,426
13 Professional, Scientific, and 6,352,099 712,212 23,029 89,734 362,967 15,654 8,012
Technical Activities
14 Leasing and Leasing Without 13,806,988 104,107 32,649 235,157 53,936 18,147 41,973
Option Right, Employment,
Travel Agencies, and Other
Business Support Activities
15 Public Administration, Defense 458,940,986 8,200 8,413 8,293 716 5,945 9,557
And Compulsory Social
Security
16 Education Services 3,586,969 39,793 45,174 60,815 4,955 37,018 80,351
17 Human Health and Social Work 6,095,633 5,217 11,040 116,766 509 4,788 5,859
Activities
18 Art, Entertainment, and 737,871 4,567 19,891 16,699 272 8,188 2,757
Leisure Activities
19 Other Service Activities 6,356,242 31,836 20,474 956,099 2,848 13,099 63,669
20 Household Activities as 48 - - - - - -
Employer; Activities which
Generate Products or Services
by Household, Use for Fulfilling
Self-Needs
21 International institution and 461 - - 1 - - -
Other Extra International
Agency Activities
22 Household Activities 146,704,132 2,525,214 2,104,908 652,831 306,033 1,254,134 853,810
23 Non-Business Field 44,356,733 203,735 136,361 521,500 50,801 113,499 260,158
24 Others 68,134,927 75,400 366,692 309,584 28,410 322,198 -
Total 1,778,697,293 21,667,646 15,438,357 16,658,811 10,706,314 10,863,680 2,840,003
2024 Annual Report PT Bank Central Asia Tbk 195
Page 198
Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
14.6a. Credit Risk - Disclosure of Receivables by Due Date (CRB-6) - Bank Only
(in million Rupiah)
As of 31 December, 2024
Receivables by Due Date
No. Exposure Class > 90 days to > 120 days to
> 180 days Total
120 days 180 days
(c) (d) (e) (f)
1 Credit include to Past Due Receivables 834,977 1,078,061 14,109,024 16,022,062
2 Securities include to Past Due - - 100,000 100,000
Receivables
3 TOTAL 834,977 1,078,061 14,209,024 16,122,062
14.6b. Credit Risk - Disclosure of Receivables by Due Date (CRB-6) - Consolidated
(in million Rupiah)
As of 31 December, 2024
Receivables by Due Date
No. Exposure Class > 90 days to > 120 days to
> 180 days Total
120 days 180 days
(c) (d) (e) (f)
1 Credit include to Past Due Receivables 935,636 1,170,373 14,307,236 16,413,245
2 Securities include to Past Due - - 100,000 100,000
Receivables
3 TOTAL 935,636 1,170,373 14,407,236 16,513,245
196 PT Bank Central Asia Tbk 2024 Annual Report
Page 199
Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
15.1a. Credit Risk - Disclosure of Performing and Non Performing Asset (CRB-A1) - Bank only
(in million Rupiah)
As of 31 December, 2024
Non Performing
Performing (Substandard, Doubtful, and Loss Quality)
(Current and Special Unimpaired Loss Receivables
Mention Quality) Impaired
Loss Receivables
Due date > 90 days Due date ≤ 90 days
Allowance Allowance Allowance Allowance
Gross Gross
for Gross Carrying for Gross Carrying for for
Carrying Carrying
impairment Value impairment Value impairment impairment
Value Value
losses losses losses losses
a b c d e f g h
1 Securities 381,416,498 277,570 100,000 100,000 - - - -
2 Credit 879,414,066 21,987,781 15,498,016 10,394,225 - - - -
a. Corporate 417,573,525 12,124,035 6,432,701 5,240,041 - - - -
b. Retail 327,486,831 4,469,034 5,766,575 2,927,494 - - - -
c. Commercial 134,353,710 5,394,712 3,298,740 2,226,690 - - - -
3 Other Off- 355,273,406 2,938,262 89,066 29,321 - - - -
Balance Sheet
15.1b. Credit Risk - Disclosure of Performing and Non Performing Asset (CRB-A1) - Consolidated
(in million Rupiah)
As of 31 December, 2024
Non Performing
Performing (Substandard, Doubtful, and Loss Quality)
(Current and Special Unimpaired Loss Receivables
Mention Quality) Impaired
Loss Receivables
Due date > 90 days Due date ≤ 90 days
Allowance Allowance Allowance Allowance
Gross Gross
for Gross Carrying for Gross Carrying for for
Carrying Carrying
impairment Value impairment Value impairment impairment
Value Value
losses losses losses losses
a b c d e f g h
1 Securities 394,966,431 312,468 100,000 100,000 - - - -
2 Credit 905,801,718 22,711,961 16,024,626 10,786,556 - - - -
a. Corporate 429,661,912 12,524,090 6,555,677 5,345,306 - - - -
b. Retail 340,352,804 4,784,441 6,163,614 3,207,952 - - - -
c. Commercial 135,787,002 5,403,429 3,305,335 2,233,299 - - - -
3 Other Off- 357,312,122 2,945,866 89,066 29,321 - - - -
Balance Sheet
2024 Annual Report PT Bank Central Asia Tbk 197
Page 200
Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
15.2a. Credit Risk - Disclosure of Performing and Non-Performing of Restructured Assets (CRB-A2) - Bank only
Performing Non Performing
(Current and Special Mention (Substandard, Doubtful, and Loss
Quality) Quality)
Allowance for Allowance for
Gross Carrying Gross Carrying
impairment impairment
Value Value
losses losses
(a) (b) (c) (d)
1 Securities - - - -
2 Credit 18,758,155 6,185,782 10,028,447 7,478,887
a. Corporate 9,949,607 3,636,979 6,431,439 5,238,782
b. Retail 3,835,602 325,052 1,284,801 676,593
c. Commercial 4,972,946 2,223,751 2,312,207 1,563,512
3 Other Off-Balance Sheet 587,027 65,351 544 -
15.2b. Credit Risk - Disclosure of Performing and Non-Performing of Restructured Assets (CRB-A2) - Consolidated
Performing Non Performing
(Current and Special Mention (Substandard, Doubtful, and Loss
Quality) Quality)
Allowance for Allowance for
Gross Carrying Gross Carrying
impairment impairment
Value Value
losses losses
(a) (b) (c) (d)
1 Securities - - - -
2 Credit 19,273,166 6,473,798 10,153,403 7,584,878
a. Corporate 10,339,188 3,911,526 6,529,061 5,331,484
b. Retail 3,945,902 337,763 1,311,602 689,349
c. Commercial 4,988,076 2,224,509 2,312,740 1,564,045
3 Other Off-Balance Sheet 587,027 65,351 544 -
17.a. Credit Risk - Disclosure of Quantitative Related to Credit Risk Mitigation Techniques (CR3) - Bank only
(in million Rupiah)
As of 31 December, 2024
Secured Secured Receivables
Receivables Secured Secured
Unsecured by Warranty,
by Credit Risk Receivables by Receivables by
Receivables Guarantee, and/or
Mitigation Collateral Credit Derivatives
Credit Insurance
Techniques
(a) (b) (c) (d) (e)
1 Credit 837,041,741 25,488,335 25,458,911 29,424 -
2 Securities 381,138,928 - - - -
3 Total 1,218,180,669 25,488,335 25,458,911 29,424 -
4 Past Due Credit and Securities 5,131,477 1,599 1,599 - -
198 PT Bank Central Asia Tbk 2024 Annual Report
Page 201
Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
(in million Rupiah)
As of 31 December, 2024
Stage 1 Stage 2 Stage 3
Allowance for Allowance for Allowance for
Gross Carrying Gross Carrying Gross Carrying
impairment impairment impairment
Value Value Value
losses losses losses
(e) (f) (g) (h) (i) (j)
- - - - - -
8,441,513 603,851 9,694,793 5,047,772 10,650,296 8,013,046
3,490,578 81,680 5,842,258 3,022,223 7,048,210 5,771,858
3,300,507 219,890 530,016 104,079 1,289,880 677,676
1,650,428 302,281 3,322,519 1,921,470 2,312,206 1,563,512
474,162 26,842 112,865 38,509 544 -
(in million Rupiah)
As of 31 December, 2024
Stage 1 Stage 2 Stage 3
Allowance for Allowance for Allowance for
Gross Carrying Gross Carrying Gross Carrying
impairment impairment impairment
Value Value Value
losses losses losses
(e) (f) (g) (h) (i) (j)
- - - - - -
8,561,235 610,764 9,697,149 5,048,097 11,168,185 8,399,815
3,520,831 81,931 5,842,258 3,022,223 7,505,160 6,138,856
3,387,530 226,428 532,372 104,404 1,337,602 696,280
1,652,874 302,405 3,322,519 1,921,470 2,325,423 1,564,679
474,162 26,842 112,865 38,509 544 -
17.b. Credit Risk - Disclosure of Quantitative Related to Credit Risk Mitigation Techniques (CR3) - Consolidated
(in million Rupiah)
As of 31 December, 2024
Secured Secured Receivables
Receivables Secured Secured
Unsecured by Warranty,
by Credit Risk Receivables by Receivables by
Receivables Guarantee, and/or
Mitigation Collateral Credit Derivatives
Credit Insurance
Techniques
(a) (b) (c) (d) (e)
1 Credit 862,312,784 26,015,043 25,985,619 29,424 -
2 Securities 394,653,963 - - - -
3 Total 1,256,966,747 26,015,043 25,985,619 29,424 -
4 Past Due Credit and Securities 5,230,462 1,599 1,599 - -
2024 Annual Report PT Bank Central Asia Tbk 199
Page 202
Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
19.a. Credit Risk - Disclosure of Credit Risk Exposure and Credit Risk Mitigation Techniques Impact (CR4) - Bank only
(in million Rupiah)
As of 31 December, 2024
Net Receivable before Credit Net Receivable after Credit
RWA and
Conversion Factor and Credit Conversion Factor and Credit
Portfolio Category / Risk Weight Average
No. Risk Mitigation Techniques Risk Mitigation Techniques
Transaction Type
Off- Off-Balance Risk Weight
Balance Balance
Balance Sheet RWA Average
Sheet Sheet
Sheet (e/(c+d))
(a) (b) (c) (d) (e) (f)
1 Receivables on Sovereigns 367,442,126 6,000,000 367,442,126 600,000 - 0%
2 Receivables on Public Sector 37,021,750 28,685,259 37,021,750 5,491,157 9,922,878 23%
Entities
3 Receivables on Multilateral - - - - - -
Development Banks and
International Institutions
4 Receivables on Banks 49,594,986 3,218,747 49,581,329 1,536,521 15,650,195 31%
Receivables to Securities 46,955,828 32,154,010 46,842,934 7,679,507 14,912,387 27%
Companies and Other Financial
Services Institutions
5 Receivables by Covered Bond - - - - - -
6 Receivables on Corporate - General 178,420,832 153,507,897 162,822,651 52,488,880 182,246,335 85%
Corporate Exposure
Receivables to Securities - - - - - -
Companies and Other Financial
Services Institutions
Special Financing Exposure 21,447,514 6,065,943 21,447,514 2,426,377 26,058,428 109%
7 Receivables in the Form of 627,983 - 627,983 - 1,539,957 245%
Subordinated Securities, Equity, and
Other Capital Instruments
8 Receivables on Micro, Small 89,582,839 39,471,297 80,948,813 4,688,373 63,861,484 75%
Business & Retail Portfolio
9 Loans Secured by Residential
Property
Loans Secured by Residential 196,831,606 51,699,401 196,047,827 20,520,163 119,407,940 55%
Property which is Not Materially
Dependent on Property Cash Flow
Loans Secured by Residential - - - - - -
Property which is Materially
Dependent on Property Cash Flow
Loans Secured by Commercial 289,350,788 124,336,291 288,287,211 48,400,172 291,935,689 87%
Real Estate which is Not Materially
Dependent on Property Cash Flow
Loans Secured by Commercial 14,525,043 2,471,128 14,523,882 988,451 16,665,113 107%
Real Estate which is Materially
Dependent on Property Cash Flow
Credit for Land Acquisition, Soil - - - - - -
Processing, and Construction
10 Past Due Receivables 5,290,258 59,745 5,280,683 43,984 4,603,599 86%
11 Other Assets 68,532,041 - 68,532,041 - 40,136,538 59%
12 Employee/Retired Loans - - - - - -
Total 1,365,623,594 447,669,718 1,339,406,744 144,863,585 786,940,543 53%
200 PT Bank Central Asia Tbk 2024 Annual Report
Page 203
Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
19.b. Credit Risk - Disclosure of Credit Risk Exposure and Credit Risk Mitigation Techniques Impact (CR4) -Consolidated
(in million Rupiah)
As of 31 December, 2024
Net Receivable before Credit Net Receivable after Credit
RWA and
Conversion Factor and Credit Conversion Factor and Credit
Portfolio Category / Risk Weight Average
No. Risk Mitigation Techniques Risk Mitigation Techniques
Transaction Type
Off-Balance Risk Weight
Balance Off-Balance Balance
Sheet RWA Average
Sheet Sheet Sheet
(e/(c+d))
(a) (b) (c) (d) (e) (f)
1 Receivables on Sovereigns 373,683,320 6,000,000 373,683,320 600,000 - 0%
2 Receivables on Public Sector 37,021,750 28,685,259 37,021,750 5,491,157 9,922,878 23%
Entities
3 Receivables on Multilateral - - - - - -
Development Banks and
International Institutions
4 Receivables on Banks 50,649,259 3,218,652 50,635,602 1,536,512 15,861,076 30%
Receivables to Securities 46,833,359 31,402,559 46,720,465 7,484,186 14,835,018 27%
Companies and Other Financial
Services Institutions
5 Receivables by Covered Bond - - - - - -
6 Receivables on Corporate - General 185,149,941 155,214,609 169,551,759 53,171,565 187,935,992 84%
Corporate Exposure
Receivables to Securities - - - - - -
Companies and Other Financial
Services Institutions
Special Financing Exposure 21,447,514 6,065,943 21,447,514 2,426,377 26,058,428 109%
7 Receivables in the Form of 659,126 - 659,126 - 1,586,671 241%
Subordinated Securities, Equity, and
Other Capital Instruments
8 Receivables on Micro, Small 102,072,758 39,471,297 93,438,732 4,688,373 75,876,972 77%
Business & Retail Portfolio
9 Loans Secured by Residential
Property
Loans Secured by Residential 196,831,606 51,699,401 196,047,827 20,520,163 119,407,940 55%
Property which is Not Materially
Dependent on Property Cash Flow
Loans Secured by Residential - - - - - -
Property which is Materially
Dependent on Property Cash Flow
Loans Secured by Commercial 289,350,788 124,336,291 288,287,211 48,400,172 291,935,689 87%
Real Estate which is Not Materially
Dependent on Property Cash Flow
Loans Secured by Commercial 14,525,043 2,471,128 14,523,882 988,451 16,665,113 107%
Real Estate which is Materially
Dependent on Property Cash Flow
Credit for Land Acquisition, Soil - - - - - -
Processing, and Construction
10 Past Due Receivables 5,409,156 59,745 5,399,581 43,984 4,773,774 88%
11 Other Assets 69,779,324 - 69,779,324 - 41,392,104 59%
12 Employee/Retired Loans - - - - - -
Subtotal 1,393,412,944 448,624,884 1,367,196,093 145,350,940 806,251,655 53%
13 Exposures in Subsidiary Company 16,638,509 2,038,364 15,697,072 215,488 9,609,868 60%
That Carry Out Business Activities
Based on Sharia Principles (if any)
Total 1,410,051,453 450,663,248 1,382,893,165 145,566,428 815,861,523 53%
2024 Annual Report PT Bank Central Asia Tbk 201
Page 204
Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
20.a. Credit Risk - Disclosure of Exposure Based On Asset Class and Weight Risk (CR5) - Bank only
Portfolio Category 0% 20% 50%
1 Receivables on Sovereigns 368,042,126 - -
Portfolio Category 20% 50%
2 Receivables on Public Sector Entities 37,778,585 4,734,322
Portfolio Category 0% 20% 30% 50%
3 Receivables on Multilateral - - -
Development Banks and International
Institutions
Portfolio Category 20% 30% 40% 50% 75%
4 Receivables on Banks 38,360,975 375,466 4,533,213 1,329,094
Receivables to Securities Companies 46,510,363 847,660 - 150,696
and Other Financial Services
Institutions
Portfolio Category 10% 15% 20% 25% 35%
5 Receivables by Covered Bond - - - -
Portfolio Category 20% 50% 65% 75% 80%
6 Receivables on Corporate - General 21,881,040 19,082,215 - 904,248 -
Corporate Exposure
Receivables to Securities Companies - - - -
and Other Financial Services
Institutions
Special Financing Exposure - - - -
Portfolio Category 100% 150%
7 Receivables in the Form of 20,000 -
Subordinated Securities, Equity, and
Other Capital Instruments
Portfolio Category 45% 75%
8 Receivables on Micro, Small Business 7,730,364 69,190,783
& Retail Portfolio
Portfolio Category 0% 20% 25% 30% 35% 40% 45% 50% 60%
9 Loans Secured by Residential Property
Loans Secured by Residential Property - 14,182,405 10,727,682 52,094,102 15,041,757 4,779,089
which is Not Materially Dependent on
Property Cash Flow
Without Credit Allocation Approach - - - - - -
With Credit Allocation Approach -
(Secured)
With Credit Allocation Approach - - - - -
(Secured)
Loans Secured by Residential Property - - - -
which is Materially Dependent on
Property Cash Flow
Loans Secured by Commercial - 3,743,385 - - 13,881,624 11,409,507
Real Estate which is Not Materially
Dependent on Property Cash Flow
Without Credit Allocation Approach - - - - - -
With Credit Allocation Approach -
(Secured)
With Credit Allocation Approach - - - - -
(Secured)
Loans Secured by Commercial Real
Estate which is Materially Dependent
on Property Cash Flow
Credit for Land Acquisition, Soil
Processing, and Construction
Portfolio Category 50% 100%
10 Past Due Receivables 1,596,338
Portfolio Category 0% 20%
11 Other Assets 29,292,836 -
Portfolio Category 0% 20% 25% 30% 35% 40% 45% 50% 60%
12 Employee/Retired Loans
202 PT Bank Central Asia Tbk 2024 Annual Report
Page 205
Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
(in million Rupiah)
Net Receivable after Credit
100% 150% Others Conversion Factor and Credit Risk
Mitigation Techniques
- - - 368,042,126
Net Receivable after Credit
100% 150% Others Conversion Factor and Credit Risk
Mitigation Techniques
- - - 42,512,907
Net Receivable after Credit
100% 150% Others Conversion Factor and Credit Risk
Mitigation Techniques
- - - - -
Net Receivable after Credit
100% 150% Others Conversion Factor and Credit Risk
Mitigation Techniques
4,526,297 1,992,805 - - 51,117,850
6,988,546 - 25,176 - 54,522,441
Net Receivable after Credit
50% 100% Others Conversion Factor and Credit Risk
Mitigation Techniques
- - - - -
Net Receivable after Credit
85% 100% 130% 150% Others Conversion Factor and Credit Risk
Mitigation Techniques
43,142,920 128,945,476 - 1,355,632 - 215,311,531
- - - - -
16,592,103 7,281,788 - - 23,873,891
Net Receivable after Credit
250% 400% Others Conversion Factor and Credit Risk
Mitigation Techniques
607,983 - - 627,983
Net Receivable after Credit
85% 100% Others Conversion Factor and Credit Risk
Mitigation Techniques
1,658,581 7,031,915 25,543 85,637,186
Net Receivable after
Credit Conversion
65% 70% 75% 85% 90% 100% 105% 110% 150% Others Factor and Credit
Risk Mitigation
Techniques
- 58,831,375 38,668,301 17,434,900 4,792,983 - 15,396 216,567,990
- - - - - - - -
- -
- - - - - - -
- - - - -
- 39,720,478 135,563,936 132,368,453 - - 336,687,383
- -
- -
- - - - - - -
3,514,018 1,920,536 6,599,626 3,478,154 - 15,512,333
- - - -
Net Receivable after Credit
150% Others Conversion Factor and Credit Risk
Mitigation Techniques
3,572,788 155,541 - 5,324,667
Net Receivable after Credit
100% 150% 1250% Others Conversion Factor and Credit Risk
Mitigation Techniques
37,444,537 1,794,668 - - 68,532,041
Net Receivable after
Credit Conversion
65% 70% 75% 85% 90% 100% 105% 110% 150% Others Factor and Credit
Risk Mitigation
Techniques
- -
2024 Annual Report PT Bank Central Asia Tbk 203
Page 206
Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
20.b. Credit Risk - Disclosure of Exposure Based On Asset Class and Weight Risk (CR5) - Consolidated
Portfolio Category 0% 20% 50%
1 Receivables on Sovereigns 374,283,320 - -
Portfolio Category 20% 50%
2 Receivables on Public Sector Entities 37,778,585 4,734,322
Portfolio Category 0% 20% 30% 50%
3 Receivables on Multilateral - - -
Development Banks and International
Institutions
Portfolio Category 20% 30% 40% 50% 75%
4 Receivables on Banks 39,415,084 375,466 4,533,378 1,329,094
Receivables to Securities Companies 46,217,684 847,660 - 150,696
and Other Financial Services
Institutions
Portfolio Category 10% 15% 20% 25% 35%
5 Receivables by Covered Bond - - - -
Portfolio Category 20% 50% 65% 75% 80%
6 Receivables on Corporate - General 23,430,475 19,945,046 - 904,248 -
Corporate Exposure
Receivables to Securities Companies - - - -
and Other Financial Services
Institutions
Special Financing Exposure - - - -
Portfolio Category 100% 150%
7 Receivables in the Form of 20,000 31,143
Subordinated Securities, Equity, and
Other Capital Instruments
Portfolio Category 45% 75%
8 Receivables on Micro, Small Business 7,730,364 69,190,783
& Retail Portfolio
Portfolio Category 0% 20% 25% 30% 35% 40% 45% 50% 60%
9 Loans Secured by Residential Property
Loans Secured by Residential Property - 14,182,405 10,727,682 52,094,102 15,041,757 4,779,089
which is Not Materially Dependent on
Property Cash Flow
Without Credit Allocation Approach - - - - - -
With Credit Allocation Approach -
(Secured)
With Credit Allocation Approach - - - - -
(Secured)
Loans Secured by Residential Property - - - -
which is Materially Dependent on
Property Cash Flow
Loans Secured by Commercial - 3,743,385 - - 13,881,624 11,409,507
Real Estate which is Not Materially
Dependent on Property Cash Flow
Without Credit Allocation Approach - - - - - -
With Credit Allocation Approach -
(Secured)
With Credit Allocation Approach - - - - -
(Secured)
Loans Secured by Commercial Real
Estate which is Materially Dependent
on Property Cash Flow
Credit for Land Acquisition, Soil
Processing, and Construction
Portfolio Category 50% 100%
10 Past Due Receivables 1,604,510
Portfolio Category 0% 20%
11 Other Assets 29,294,041 -
Portfolio Category 0% 20% 25% 30% 35% 40% 45% 50% 60%
12 Employee/Retired Loans -
Portfolio Category 0% 20% 25% 35% 50%
13 Exposures in Subsidiary Company That 3,630,424 2,042,209 484,635 522,884
Carry Out Business Activities Based on
Sharia Principles (if any)
204 PT Bank Central Asia Tbk 2024 Annual Report
Page 207
Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
(in million Rupiah)
Net Receivable after Credit
100% 150% Others Conversion Factor and Credit Risk
Mitigation Techniques
- - - 374,283,320
Net Receivable after Credit
100% 150% Others Conversion Factor and Credit Risk
Mitigation Techniques
- - 42,512,907
Net Receivable after Credit
100% 150% Others Conversion Factor and Credit Risk
Mitigation Techniques
- - - - -
Net Receivable after Credit
100% 150% Others Conversion Factor and Credit Risk
Mitigation Techniques
4,526,287 1,992,805 - - 52,172,114
6,963,435 - 25,176 - 54,204,651
Net Receivable after Credit
50% 100% Others Conversion Factor and Credit Risk
Mitigation Techniques
- - - - -
Net Receivable after Credit
85% 100% 130% 150% Others Conversion Factor and Credit Risk
Mitigation Techniques
43,484,072 133,603,851 - 1,355,632 - 222,723,324
- - - - -
16,592,103 7,281,788 - - 23,873,891
Net Receivable after Credit
250% 400% Others Conversion Factor and Credit Risk
Mitigation Techniques
607,983 - - 659,126
Net Receivable after Credit
85% 100% Others Conversion Factor and Credit Risk
Mitigation Techniques
4,821,452 16,358,963 25,543 98,127,105
Net Receivable after
Credit Conversion
65% 70% 75% 85% 90% 100% 105% 110% 150% Others
Factor and Credit Risk
Mitigation Techniques
- 58,831,375 38,668,301 17,434,900 4,792,983 - 15,396 216,567,990
- - - - - - - -
- -
- - - - - - -
- - - - -
- 39,720,478 135,563,936 132,368,453 - - 336,687,383
- -
- -
- - - - - - -
3,514,018 1,920,536 6,599,626 3,478,153 - 15,512,333
- - - -
Net Receivable after Credit
150% Others Conversion Factor and Credit Risk
Mitigation Techniques
3,572,788 266,267 - 5,443,565
Net Receivable after Credit
100% 150% 1250% Others Conversion Factor and Credit Risk
Mitigation Techniques
38,671,639 1,813,644 - - 69,779,324
Net Receivable after
Credit Conversion
65% 70% 75% 85% 90% 100% 105% 110% 150% Others
Factor and Credit Risk
Mitigation Techniques
- -
Net Receivable after Credit
75% 100% 150% Others Conversion Factor and Credit Risk
Mitigation Techniques
1,347,105 190,178 7,695,125 - - 15,912,560
2024 Annual Report PT Bank Central Asia Tbk 205
Page 208
Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
20.a. Credit Risk - Disclosure of Exposure Based On Asset Class and Weight Risk (CR5) - Bank only
(in million Rupiah)
Net Receivable (after
Off Balance Sheet Net
On Balance Sheet Net Credit Conversion Credit Conversion Factor
No. Weight Risk Receivable (before Credit
Receivable Factor Average and Credit Risk Mitigation
Conversion Factor)
Techniques)
1 < 40% 608,319,293 62,780,509 25% 623,836,625
2 40% -70% 128,764,908 64,879,485 29% 146,619,180
3 75% 152,753,047 48,346,389 24% 159,998,653
4 80% - - - -
5 85% 171,663,904 94,998,715 41% 197,800,337
6 90% -100% 286,704,114 165,514,291 34% 334,681,596
7 105% -130% 11,355,282 6,473,447 40% 13,902,204
8 150% 5,455,063 4,676,882 33% 6,823,751
9 250% 607,983 - - 607,983
10 400% - - - -
11 1250% - - - -
12 Total Net Receivable 1,365,623,594 447,669,718 32% 1,484,270,329
206 PT Bank Central Asia Tbk 2024 Annual Report
Page 209
Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
20.b. Credit Risk - Disclosure of Exposure Based On Asset Class and Weight Risk (CR5) - Consolidated
(in million Rupiah)
Net Receivable (after
Off Balance Sheet Net
On Balance Sheet Net Credit Conversion Credit Conversion Factor
No. Weight Risk Receivable (before Credit
Receivable Factor Average and Credit Risk Mitigation
Conversion Factor)
Techniques)
1 < 40% 623,751,715 62,362,424 25% 639,070,041
2 40% -70% 130,983,182 64,884,382 29% 148,837,453
3 75% 153,133,332 48,115,216 24% 160,163,710
4 80% - - - -
5 85% 175,167,928 94,998,715 41% 201,304,361
6 90% -100% 309,436,124 169,152,182 34% 357,589,245
7 105% -130% 11,355,282 6,473,447 40% 13,902,204
8 150% 5,615,907 4,676,882 33% 6,984,596
9 250% 607,983 - - 607,983
10 400% - - - -
11 1250% - - - -
12 Total Net Receivable 1,410,051,453 450,663,248 32% 1,528,459,593
2024 Annual Report PT Bank Central Asia Tbk 207
Page 210
Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
22. Credit Risk - Counterparty Credit Risk (CCR1) Exposure Analysis - consolidated -
as of December 31, 2024
(in million rupiah)
a b c d e f
Potential Alpha used
Replacement Net
Future EEPE to calculate RWA
Cost (RC) Receivables
Exposure (SFT) regulatory EAD
1 SA-CCR (for 221,208 513,710 1.4 1,028,885 587,745
derivative)
2 Internal model method N/A N/A
(for derivative and
SFTs)
3 Simple approach for N/A N/A
credit risk mitigation
(for SFTs)
4 Comprehensive N/A N/A
approach for credit
risk mitigation (for
SFTs)
5 VaR for SFTs N/A N/A
6 Total 221,208 513,710 1.4 1,028,885 587,745
23. Credit Risk - CCR Exposure based on Portfolio Category and Risk Weighting (CCR3) - consolidated -
as of December 31, 2024
Weighted Risk a b c d e
Portfolio Category 0% 20% 35% 40% 45%
Receivables on Sovereigns 87,958 - - - -
Receivables on Public Sector Entities - - - - -
Receivables on Multilateral - - - - -
Development Banks and International
Institutions
Receivables on Banks - 1,270,800 - - -
Receivables to Securities Companies - - - - -
and Other Financial Services Institutions
Receivables on Micro, Small Business & - - - - -
Retail Portfolio
Receivables on Corporate - - - - -
Total 87,958 1,270,800 - - -
208 PT Bank Central Asia Tbk 2024 Annual Report
Page 211
Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
(in million Rupiah)
f g h i j k l
50% 75% 85% 100% 150% Others Total Net Receivables
- - - - - - 87,958
- - - - - - -
- - - - - - -
95,482 - - - - - 1,366,282
- - - - - - -
- - - - - - -
- - 36,513 - - - 36,513
95,482 - 36,513 - - - 1,490,753
2024 Annual Report PT Bank Central Asia Tbk 209
Page 212
Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
24.a. Credit Risk - Exposure Report Related to Transaction with CCP - Bank only
(in million Rupiah)
a b
Net Receivable (after Credit
Conversion Factor and Credit Risk RWA
Mitigation Techniques)
1 Total Exposure to QCCP 5,032 101
Transaction involving exposure with QCCP
(excluding initial margin and default fund contribution)
(i) OTC derivative
2
(ii) Derivative transactions through market
(iii) securities financing transactions
(iv) netting set (regarding netting of cross-product is allowed)
3 Segregated initial margin
4 Nonsegregated initial margin
5 Prefunded default fund contribution 5,032 101
6 Unfunded default fund contribution
7 Total Exposure to Non-QCCP
Transaction involving exposure through nonQCCP (excluding initial
margin and default fund contribution)
(i) OTC derivative
(ii) Derivative transactions through market
8
(iii) securities financing transactions
(iv) netting set (regarding netting of cross-product is allowed)
9 Segregated initial margin
10 Nonsegregated initial margin
11 Prefunded default fund contribution
12 Unfunded default fund contribution
13 Total Exposure to QCCP and Non-QCCP 5,032 101
210 PT Bank Central Asia Tbk 2024 Annual Report
Page 213
Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
24.b. Credit Risk - Exposure Report Related to Transaction with CCP - Consolidated
(in million Rupiah)
a b
Net Receivable (after Credit
Conversion Factor and Credit Risk RWA
Mitigation Techniques)
1 Total Exposure to QCCP 5,032 101
Transaction involving exposure with QCCP
(excluding initial margin and default fund contribution)
(i) OTC derivative
2
(ii) Derivative transactions through market
(iii) securities financing transactions
(iv) netting set (regarding netting of cross-product is allowed)
3 Segregated initial margin
4 Nonsegregated initial margin
5 Prefunded default fund contribution 5,032 101
6 Unfunded default fund contribution
7 Total Exposure to Non-QCCP
Transaction involving exposure through nonQCCP (excluding initial
margin and default fund contribution)
(i) OTC derivative
(ii) Derivative transactions through market
8
(iii) securities financing transactions
(iv) netting set (regarding netting of cross-product is allowed)
9 Segregated initial margin
10 Nonsegregated initial margin
11 Prefunded default fund contribution
12 Unfunded default fund contribution
13 Total Exposure to QCCP and Non-QCCP 5,032 101
2024 Annual Report PT Bank Central Asia Tbk 211
Page 214
Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
25. Credit Risk - Net Credit Derivative Claims (CCR6)
BCA has no exposure to net credit derivative receivables
26. Credit Risk - Qualitative Disclosure of Securitization Exposure (SECA)
BCA has no securitization exposure
27. Credit Risk - Securitization Exposure in the Banking Book (SEC1) - as of December 31, 2024
BCA has no exposure to securitization exposure in the banking book
28. Credit Risk - Securitization Exposure Components in the Trading Book (SEC2) - as of December 31, 2024
BCA has no exposure to securitization exposure in the trading book
29. Credit Risk - Securitization Exposure in the Banking Book and related to its Capital Requirements -
Bank Acting as Originator or Sponsor (SEC3)
BCA does not act as the originator or sponsor of securitization exposure
30. Credit Risk - Securitization Exposure in the Banking Book and related to its Capital Requirements
Bank Acting as Investor (SEC4) - as of December 31, 2024
BCA does not act as the investor of securitization exposure
212 PT Bank Central Asia Tbk 2024 Annual Report
Page 215
Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
31.a. Market Risk - Disclosure Using Standard Methods
(in million Rupiah)
As of December 31, 2024
No. Type of Risk Bank Only Consolidated
Capital Charge RWA Capital Charge RWA
1 General Interest Rate Risk 387,672 4,845,906 390,499 4,881,235
2 Credit Spread Risk 191,572 2,394,655 195,652 2,445,646
3 Exchange Rate Risk 94,513 1,181,408 55,604 695,053
4 Equity Risk - - 112,528 1,406,598
5 Commodities Risk - - - -
6 Default Risk Capital 9,646 120,580 32,337 404,215
7 Residual risk add-on - - - -
CVA (Credit Valuation 16,602 17,230
Adjustment)
31.b. Market Risk - Disclosure Using Standard Methods
(in million Rupiah)
As of December 31, 2023
No. Type of Risk Bank Only Consolidated
Capital Charge RWA Capital Charge RWA
1 Interest Rate Risk 97,061 1,213,263 115,526 1,444,081
a. Specific Risk 8,059 100,740 10,124 126,547
b. General Risk 89,002 1,112,523 105,403 1,317,534
2 Exchange Rate Risk 19,081 238,514 46,031 575,392
3 Capital Risk - - 83,293 1,041,157
4 Commodities Risk - - - -
5 Option Risk - - - -
CVA (Credit Valuation 13,478 13,490
Adjustment)
2024 Annual Report PT Bank Central Asia Tbk 213
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
32.1a. Disclosure of Interest Rate Risk in Banking Book (IRRBB) Exposure - Bank Individual - as of December 31, 2024
No. Qualitative Disclosure
1. Interest rate risk in the banking book (IRRBB) refers to the current or prospective risk to the bank’s capital and earnings arising from
interest rates movements in the market as opposed to the banking book positions. The IRRBB calculation uses two perspectives,
namely the economic value perspective and earnings-based perspective. The intention is to identify risks more accurately and to
carry out appropriate corrective actions.
2. Presently, Bank does not have sufficient long-term financial resources to fund fixed-rate loans and banking book securities.
Regarding these conditions, funding sources of fixed-rate loans and banking book securities is calculated from the Core Deposit.
To mitigate risks, Bank has set nominal limits on fixed-rate loans and banking book securities, limits on IRRBB and pricing
strategies.
3. Measurements of IRRBB individual are carried out on a monthly basis by using two (2) methods as follows:
a. measurement based on changes in economic value of equity, which measures the impact of changes in interest rates on the
economic value of the Bank’s equity (economic value perspective), and
b. measurement based on changes in net interest income, which measures the impact of interest rate changes on earnings of the
Bank (earnings-based perspective).
4. Interest rate shock scenarios used by Bank in measuring IRRBB is in accordance with the standard interest rate shock scenarios,
which is stated in the Financial Services Authority Circular Letter No.12/SEOJK.03/2018 concerning the Implementation of Risk
Management and Risk Measurement Standard Approach for Interest Rate Risk in the Banking Book for Commercial Banks.
Economic Value of Equity (EVE) Methods use six (6) interest rate shock scenarios, as follows:
1) parallel shock up,
2) parallel shock down,
3) steepener shock (short rates down and long rates up),
4) flattener shock (short rates up and long rates down),
5) short rates shock up,
6) short rates shock down.
Net Interest Income (NII) Methods use two (2) interest rate shock scenarios, as follows:
1) parallel shock up,
2) parallel shock down.
5. EVE method calculates the cash flows of the principal amount and interest payments on the balance sheet positions that are
sensitive to interest rates, which then discounted at the relevant interest rates.
The Bank does not calculate a commercial margin and spread components in the cash flows. EVE calculation uses notional
cash flows multiplied by the reference rate (base rate) on the transaction date and then discounted by the risk-free rate at the
reporting date.
The IRRBB calculation uses a Core deposit, which is part of a stable Non Maturity Deposit with a very small change in interest rates
despite significant changes in interest rates in the market.
Bank identifies core deposit and non-core deposits from stable funds (retail transactional, retail non-transactional and wholesale).
Placement of core deposit cash flows carried out using uniform slotting on time-bucket over 1 (one) year with the length of period
for each category refers to FSA Circular Letter No. 12/SEOJK.03/2018 concerning the Implementation of Risk Management
and Risk Measurement Standard Approach for Interest Rate Risk in the Banking Book (Interest Rate Risk in the Banking Book) for
Commercial Banks.
The methodology to estimate prepayment rate for loans and early withdrawal rate for time deposits uses historical data within a
year.
Bank performs add-on calculations for automatic interest rate options on a floating rate mortgage loan with embedded caps and
a fixed rate loan commitment by using Black model.
Bank measures IRRBB for significant currencies, IDR and USD. Bank uses the aggregation method by adding the potential loss
values of each currencies for each identical shock scenario.
6. As of Dec 31 2024, IRRBB (EVE method) for BCA as individual decreased by 0.63% compared to Jun 30 2024, from 7.16% to 6.53%.
And for NII Method decreased by 2.24%, from 8.92% to 6.68%. This was caused by 10.85% increase in Tier 1 Capital, and 11.60%
increase in Core Deposit over 1 year. Meanwhile, Repriced Assets over 1 year increased by 3.73%.
No. Quantitative Disclosure
1. Average repricing maturity applied for Non Maturity Deposit (NMD) is 4 years.
2. The longest repricing maturity applied for Non Maturity Deposit (NMD) is 7 Years.
214 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
32.1b. Disclosure of Interest Rate Risk in Banking Book Exposure (IRRBB) - Bank Individual
(Currency: Rupiah)
Period of December 31, 2024
No. (in million Rupiah)
EVE NII
Period 31 December 2024 30 June 2024 31 December 2024 30 June 2024
1 Parallel up 15,090,425 15,475,113 5,434,097 6,952,207
2 Parallel down (14,001,354) (15,263,111) (5,263,376) (6,792,024)
3 Steepener (8,406,867) (7,372,531)
4 Flattener 11,346,546 10,408,076
5 Short rate up 15,634,187 15,091,375
6 Short rate down (15,659,868) (15,437,793)
7 Maximum Negative Value (absolute)* 15,634,187 15,475,113 5,434,097 6,952,207
8 Tier 1 Capital (for EVE) or Projected Income 239,468,854 216,032,487 81,360,192 77,954,243
(for NII)
9 Maximum Value dividend by Tier 1 Capital 6.53% 7.16% 6.68% 8.92%
(for EVE) or Projected Income (for NII)
32.1b. Disclosure of Interest Rate Risk in Banking Book Exposure (IRRBB) - Bank Individual
(Currency: USD)
Period of December 31, 2024
No. (in million Rupiah)
EVE NII
Period 31 December 2024 30 June 2024 31 December 2024 30 June 2024
1 Parallel up (2,153,388) (2,171,117) (591,399) (457,154)
2 Parallel down 2,377,215 2,402,298 591,421 457,193
3 Steepener (382,360) (421,887)
4 Flattener (115,760) (80,641)
5 Short rate up (1,010,886) (987,859)
6 Short rate down 1,055,778 1,032,010
7 Maximum Negative Value (absolute)* 2,377,215 2,402,298 591,421 457,193
8 Tier 1 Capital (for EVE) or Projected Income 239,468,854 216,032,487 81,360,192 77,954,243
(for NII)
9 Maximum Value dividend by Tier 1 Capital 0.99% 1.11% 0.73% 0.59%
(for EVE) or Projected Income (for NII)
32.1b. Disclosure of Interest Rate Risk in Banking Book Exposure (IRRBB) - Bank Individual
Currency: (Rupiah &USD)
Period of December 31, 2024
No. (in million Rupiah)
EVE NII
Periode 31 December 2024 30 June 2024 **
31 December 2024 30 June 2024**
1 Parallel up 15,090,425 15,475,113 5,434,097 6,952,207
2 Parallel down 2,377,215 2,402,298 591,421 457,193
3 Steepener - -
4 Flattener 11,346,546 10,408,076
5 Short rate up 15,634,187 15,091,375
6 Short rate down 1,055,778 1,032,010
7 Maximum Negative Value (absolute)* 15,634,187 15,475,113 5,434,097 6,952,207
8 Tier 1 Capital (for EVE) or Projected Income 239,468,854 216,032,487 81,360,192 77,954,243
(for NII)
9 Maximum Value dividend by Tier 1 Capital 6.53% 7.16% 6.68% 8.92%
(for EVE) or Projected Income (for NII)
Notes:
• Potential loss shown in positive values for each shock scenario.
* Maximum negative value is the maximum value of potential losses from all shock scenarios.
** The agregation method of Rupiah & USD for 30 Jun’24 follows the 31 Dec’24 method.
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
32.1c Disclosure of Interest Rate Risk in Banking Book (IRRBB) Exposure - Bank Consolidated - as of December 31, 2024
No. Qualitative Disclosure
1. Interest rate risk in the banking book (IRRBB) refers to the current or prospective risk to the bank’s capital and earnings arising from
interest rates movements in the market as opposed to the banking book positions. The IRRBB calculation uses two perspectives,
namely the economic value perspective and earnings-based perspective. The intention is to identify risks more accurately and to
carry out appropriate corrective actions.
2. Presently, Bank does not have sufficient long-term financial resources to fund fixed-rate loans and banking book securities.
Regarding these conditions, funding sources of fixed-rate loans and banking book securities is calculated from the Core Deposit.
To mitigate risks, Bank has set nominal limits on fixed-rate loans and banking book securities, limits on IRRBB and pricing
strategies.
3. Measurements of IRRBB consolidated are carried out on a semiannually basis by using two (2) methods as follows:
a. measurement based on changes in economic value of equity, which measures the impact of changes in interest rates on the
economic value of the Bank’s equity (economic value perspective), and
b. measurement based on changes in net interest income, which measures the impact of interest rate changes on earnings of the
Bank (earnings-based perspective).
4. Interest rate shock scenarios used by Bank in measuring IRRBB is in accordance with the standard interest rate shock scenarios,
which is stated in the Financial Services Authority Circular Letter No.12/SEOJK.03/2018 concerning the Implementation of Risk
Management and Risk Measurement Standard Approach for Interest Rate Risk in the Banking Book for Commercial Banks.
Economic Value of Equity (EVE) Methods use six (6) interest rate shock scenarios, as follows:
1) parallel shock up,
2) parallel shock down,
3) steepener shock (short rates down and long rates up),
4) flattener shock (short rates up and long rates down),
5) short rates shock up,
6) short rates shock down.
Net Interest Income (NII) Methods use two (2) interest rate shock scenarios, as follows:
1) parallel shock up,
2) parallel shock down.
5. EVE method calculates the cash flows of the principal amount and interest payments on the balance sheet positions that are
sensitive to interest rates, which then discounted at the relevant interest rates.
The Bank does not calculate a commercial margin and spread components in the cash flows. EVE calculation uses notional
cash flows multiplied by the reference rate (base rate) on the transaction date and then discounted by the risk-free rate at the
reporting date.
The IRRBB calculation uses a Core deposit, which is part of a stable Non Maturity Deposit with a very small change in interest rates
despite significant changes in interest rates in the market.
Bank identifies core deposit and non-core deposits from stable funds (retail transactional, retail non-transactional and wholesale).
Placement of core deposit cash flows carried out using uniform slotting on time-bucket over 1 (one) year with the length of period
for each category refers to FSA Circular Letter No. 12/SEOJK.03/2018 concerning the Implementation of Risk Management
and Risk Measurement Standard Approach for Interest Rate Risk in the Banking Book (Interest Rate Risk in the Banking Book) for
Commercial Banks.
The methodology to estimate prepayment rate for loans and early withdrawal rate for time deposits uses historical data within a
year.
Bank performs add-on calculations for automatic interest rate options on a floating rate mortgage loan with embedded caps and
a fixed rate loan commitment by using Black model.
Bank measures IRRBB for significant currencies, IDR and USD. Bank uses the aggregation method by adding the potential loss
values of each currencies for each identical shock scenario.
6. As of Dec 31 2024, IRRBB (EVE method) for BCA as consolidated decreased by 0.81% compared to Jun 30 2024, from 7.60% to
6.79%. And for NII Method decreased by 2.08%, from 9.12% to 7.04%. The decrease for the EVE method was mainly caused by
9.86% increase in Tier 1 Capital and 11.59% increase in Core Deposit over 1 year. Meanwhile, Repriced Assets over 1 year increased
by 3.51%.
No. Quantitative Disclosure
1. Average repricing maturity applied for Non Maturity Deposit (NMD) is 4 years.
2. The longest repricing maturity applied for Non Maturity Deposit (NMD) is 7 Years.
216 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
32.1d. Disclosure of Interest Rate Risk in Banking Book Exposure (IRRBB) - Bank Consolidated
(Currency: Rupiah)
Period of December 31, 2024
No. (in million Rupiah)
EVE NII
Period 31 December 2024 30 June 2024 31 December 2024 30 June 2024
1 Parallel up 17,342,852 17,661,822 5,922,933 7,395,341
2 Parallel down (16,731,850) (17,919,022) (5,751,119) (7,233,937)
3 Steepener (8,091,700) (7,084,950)
4 Flattener 11,521,583 10,590,824
5 Short rate up 16,828,340 16,263,500
6 Short rate down (16,923,795) (16,677,730)
7 Maximum Negative Value (absolute)* 17,342,852 17,661,822 5,922,933 7,395,341
8 Tier 1 Capital (for EVE) or Projected Income 255,235,401 232,321,451 84,101,347 81,067,853
(for NII)
9 Maximum Value dividend by Tier 1 Capital 6.79% 7.60% 7.04% 9.12%
(for EVE) or Projected Income (for NII)
32.1d. Disclosure of Interest Rate Risk in Banking Book Exposure (IRRBB) - Bank Consolidated
(Currency: USD)
Period of December 31, 2024
No. (in million Rupiah)
EVE NII
Period 31 December 2024 30 June 2024 31 December 2024 30 June 2024
1 Parallel up (2,153,081) (2,160,039) (598,523) (467,046)
2 Parallel down 2,376,908 2,390,334 598,545 467,085
3 Steepener (382,655) (421,790)
4 Flattener (115,396) (78,170)
5 Short rate up (1,010,430) (981,020)
6 Short rate down 1,055,322 1,024,914
7 Maximum Negative Value (absolute)* 2,376,908 2,390,334 598,545 467,085
8 Tier 1 Capital (for EVE) or Projected Income 255,235,401 232,321,451 84,101,347 81,067,853
(for NII)
9 Maximum Value dividend by Tier 1 Capital 0.93% 1.03% 0.71% 0.58%
(for EVE) or Projected Income (for NII)
32.1d. Disclosure of Interest Rate Risk in Banking Book Exposure (IRRBB) - Bank Consolidated
Currency: (Rupiah &USD)
Period of December 31, 2024
No. (in million Rupiah)
EVE NII
Period 31 December 2024 30 June 2024 **
31 December 2024 30 June 2024**
1 Parallel up 17,342,852 17,661,822 5,922,933 7,395,341
2 Parallel down 2,376,908 2,390,334 598,545 467,085
3 Steepener - -
4 Flattener 11,521,583 10,590,824
5 Short rate up 16,828,340 16,263,500
6 Short rate down 1,055,322 1,024,914
7 Maximum Negative Value (absolute)* 17,342,852 17,661,822 5,922,933 7,395,341
8 Tier 1 Capital (for EVE) or Projected Income 255,235,401 232,321,451 84,101,347 81,067,853
(for NII)
9 Maximum Value dividend by Tier 1 Capital 6.79% 7.60% 7.04% 9.12%
(for EVE) or Projected Income (for NII)
Notes:
• Potential loss shown in positive values for each shock scenario.
* Maximum negative value is the maximum value of potential losses from all shock scenarios.
** The aggregation method of Rupiah & USD for 30 Jun’24 follows the 31 Dec’24 method.
2024 Annual Report PT Bank Central Asia Tbk 217
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
33. Report on Calculation for Quarterly Liquidity Coverage Ratio
BANK ONLY
Outstanding balance
at end Quarter IV 2024
HQLA after haircut,
outstanding
No. Components
Outstanding commitment and
commitment, and liabilities times
liabilities/contractual run-off rate
receivables or contractual
receivables times
inflow rate
1 Total data used in LCR calculation 63 days
HIGH QUALITY LIQUID ASSET (HQLA)
2 Total High Quality Liquid Asset (HQLA) 443,878,218
CASH OUTFLOW
3 Retail deposits and deposits from Micro and Small Business customers, consist of: 860,643,549 51,825,436
a. Stable deposit/funding 684,778,376 34,238,919
b. Less stable deposit/funding 175,865,173 17,586,517
4 Wholesale funding, consist of: 254,296,679 63,974,136
a. Operational deposit 225,134,367 51,997,650
b. Non operational deposit and/or other non operational liabilities 29,162,312 11,976,486
c. Marketable securities issued by bank (unsecured debt) - -
5 Secured Funding -
6 Other cash outflow (additional requirement), consist of: 458,813,680 56,401,876
a. cash outflow from derivative transaction 19,518,758 19,518,758
b. cash outflow from additional liquidity requirement - -
c. cash outflow from liquidation of funding - -
d. cash outflow from disbursement of loan commitment and liquidity facilities 310,428,254 33,385,819
e. cash outflow from other contractual liabilities related to placement of funds - -
f. cash outflow from other funding related contingencies liabilities 126,915,466 1,546,098
g. other contractual cash outflow 1,951,202 1,951,202
7 TOTAL CASH OUTFLOW 172,201,448
CASH INFLOW
8 Secured lending - -
9 Inflows from fully performing exposures 31,425,331 15,168,255
10 Other cash inflow 19,612,180 19,612,180
11 TOTAL CASH INFLOW 51,037,511 34,780,435
TOTAL ADJUSTED
VALUE1
12 TOTAL HQLA 443,878,218
13 TOTAL NET CASH OUTFLOWS 137,421,013
14 LCR (%) 323.01%
Information:
1
Adjusted values are calculated after the imposition of a reduction in value (haircut), run-off rate, and inflow rate as well as the maximum limit for HQLA
components, for example the maximum limit for HQLA Level 2B and HQLA Level 2 and the maximum limit of cash inflows can be taken into account in LCR.
The outstanding value of Quarter IV 2024 is the average LCR during the working days of Oct 2024 to Dec 2024 (63 data points), while Quarter III 2024 is the
average LCR during the working days of Jul 2024 to Sep 2024 (65 data points).
The calculation of the Liquidity Coverage Ratio above is made based on POJK No. 42/POJK.03/2015 concerning the Obligation to Fulfill the Liquidity Adequacy
Ratio (Liquidity Coverage Ratio) for Commercial Banks and its amendments, POJK No. 19 of 2024 and POJK No. 37/POJK.03/2019 concerning Transparency
and Publication of Bank Reports and is presented in accordance with SE OJK No. 9/SEOJK.03/2020 concerning Transparency and Publication of Conventional
Commercial Bank Reports.
218 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
(in million Rupiah)
CONSOLIDATED
Outstanding balance Outstanding balance Outstanding balance
at end Quarter III 2024 at end Quarter IV 2024 at end Quarter III 2024
HQLA after haircut, HQLA after haircut, HQLA after haircut,
outstanding outstanding outstanding
Outstanding Outstanding Outstanding
commitment and commitment and commitment and
commitment commitment commitment
liabilities times liabilities times liabilities times
and liabilities/ and liabilities/ and liabilities/
run-off rate run-off rate run-off rate
contractual contractual contractual
or contractual or contractual or contractual
receivables receivables receivables
receivables times receivables times receivables times
inflow rate inflow rate inflow rate
65 days 63 days 65 days
457,614,652 455,814,631 469,404,999
860,706,658 52,556,633 878,678,123 53,124,918 878,285,751 53,834,290
670,280,644 33,514,032 694,857,884 34,742,894 679,885,705 33,994,285
190,426,014 19,042,601 183,820,239 18,382,024 198,400,046 19,840,005
249,796,021 63,389,811 258,761,964 65,976,906 253,471,229 64,955,024
220,171,538 51,214,776 226,412,901 52,296,319 221,290,780 51,481,571
29,624,483 12,175,035 32,349,063 13,680,587 32,180,449 13,473,453
- - - - - -
- - -
463,818,806 55,680,111 462,114,835 57,030,786 466,079,552 56,117,433
18,881,378 18,881,378 19,518,758 19,518,758 18,881,378 18,881,378
- - - - - -
- - - - - -
311,417,834 33,919,306 312,003,236 33,566,968 312,090,854 34,008,021
- - - - - -
132,169,594 1,529,427 128,197,979 1,550,198 133,412,960 1,533,674
1,350,000 1,350,000 2,394,863 2,394,863 1,694,360 1,694,360
171,626,555 176,132,610 174,906,747
- - 1,796 1,796 1,732 1,732
33,116,834 15,725,088 35,990,277 18,143,051 37,153,721 18,356,916
19,269,757 19,269,757 19,612,180 19,612,180 19,269,757 19,269,757
52,386,591 34,994,845 55,604,253 37,757,026 56,425,210 37,628,405
TOTAL ADJUSTED TOTAL ADJUSTED TOTAL ADJUSTED
VALUE1 VALUE1 VALUE1
457,614,652 455,814,631 469,404,999
136,631,710 138,375,584 137,278,342
334.93% 329.40% 341.94%
2024 Annual Report PT Bank Central Asia Tbk 219
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Quarterly Liquidity Coverage Ratio (LCR) Report
Analysis for Bank Only
• The calculation of BCA’s Liquidity Coverage Ratio (Bank Only) for Quarter IV 2024 is based on the average daily position from
October 2024 until December 2024. Meanwhile, the calculation for Quarter III 2024 is based on the average daily position from
July 2024 until September 2024, respectively.
• BCA’s Liquidity Coverage Ratio (Bank Only) for Quarter IV 2024 decreased by 11.92%, from 334.93% (Quarter III 2024) to 323.01%
(Quarter IV 2024). Such decrease in ratio was particularly due to a decrease in weighted value of HQLA by 3.00% (Rp13.74
trillion) and an increase in Net Cash Outflow (NCO) after run-off by 0.58% (Rp0.79 trillion). The decrease in HQLA was particularly
driven by the decrease in HQLA securities amounted to Rp10.15 trillion, the decrease in placement with BI amounted to Rp5.53
trillion, and the increase in Coins and Banknotes amounted to Rp1.18 trillion. Meanwhile, the increase in NCO after run-off was
mainly caused by the increased in other contractual cash outflow (ex: dividends and borrowing) amounted to Rp0.60 trillion, the
decreased in inflows from fully performing exposures ≤ 30 days amounted to Rp0.56 trillion, and the decreased in unused loan
facilities amounted to Rp0.53 trillion.
• In terms of composition, BCA’s HQLA for Quarter IV 2024 is comprised of Level 1 HQLA of 97.67%; Level 2A HQLA of 1.59%;
and level 2B HQLA of 0.74%. Of the total Level 1 HQLA, the proportion was dominated by marketable securities issued by the
Indonesian government and BI of 78.86% and placement with Bank Indonesia of 16.44%, respectively.
• BCA’s third party deposits composition during Quarter IV 2024 was mainly contributed by CASA at around 82.35%. The
composition can be seen on the Table 1 below:
Table 1. BCA’s funding composition (Bank Only) during Quarter IV 2024.
Type of funding (Rp & FCY) Composition
Current Account 32.86%
Saving Account 49.49%
CASA 82.35%
Time Deposit 17.65%
Total 100.00%
• BCA’s derivative exposure mainly came from FX Swap Buy-Sell USD transactions by an average of USD182.50 million.
• In managing its liquidity, the Bank has properly identified, measured, monitored and controlled its liquidity risk. Apart from the
LCR ratio, the Bank also monitors condition and sufficiency of liquidity through cash flow projection report, NSFR report and other
liquidity ratios. The Bank has established a limit, early warning indicators, contingency funding plan and recovery plan related to
liquidity risk.
220 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Quarterly Liquidity Coverage Ratio Report
Analysis on a Consolidated Basis
• The calculation of BCA’s Liquidity Coverage Ratio (Consolidated) for Quarter IV 2024 is based on the average daily position from
October 2024 until December 2024. Meanwhile, the calculation for Quarter III 2024 is based on the average daily position from
July 2024 until September 2024.
• BCA’s Liquidity Coverage Ratio (Consolidated) for Quarter IV 2024 decreased by 12.54%, from 341.94% (Quarter III 2024) to
329.40% (Quarter IV 2024). Such decrease in ratio was particularly due to a decrease in HQLA by 2.90% (Rp13.59 trillion) and
an increase in weighted value of Net Cash Outflow (NCO) after run-off by 0.80% (Rp1.10 trillion). The decrease in HQLA was
particularly driven by the decrease in HQLA securities amounted to Rp10.03 trillion, the decrease in placement with BI amounted
to Rp5.55 trillion, and the increase in Coins and Banknotes amounted to Rp1.18 trillion. Meanwhile, the increase in NCO after run-
off was mainly caused by the increased in other contractual cash outflow (ex: dividends and borrowing) amounted to Rp0.70
trillion, the increased in funding from retail, micro and small businesses, as well as corporate customers amounted to Rp0.31
trillion, the decreased in inflows from fully performing exposures ≤ 30 days amounted to Rp0.21 trillion.
• In terms of composition, BCA’s HQLA for Quarter IV 2024 is comprised of Level 1 HQLA of 97.19%; Level 2A HQLA of 1.98%;
and Level 2B HQLA of 0.83%. Of the total HQLA Level 1, the proportion was dominated by marketable securities issued by the
Indonesian government and BI of 78.96% and placement with Bank Indonesia of 16.44%, respectively.
• BCA’s third party deposits composition during Quarter IV 2024 was mainly contributed by CASA at around 81.50%. The
composition can be seen on the Table 2 below:
Table 2. BCA’s Funding Composition (Consolidated) for Quarter IV 2024.
Type of funding (Rp & FCY) Composition
Current Account 32.36%
Saving Account 49.14%
CASA 81.50%
Time Deposit 18.50%
Total 100.00%
• BCA’s derivative exposure mainly came from FX Swap Buy-Sell USD transactions by an average of USD182.50 million.
• In managing its liquidity, the Bank has properly identified, measured, monitored and controlled its liquidity risk. Apart from the
LCR ratio, the Bank also monitors condition and sufficiency of liquidity through cash flow projection report, NSFR report and other
liquidity ratios. The Bank has established a limit, early warning indicators, contingency funding plan and recovery plan related to
liquidity risk.
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
34.a. Net Stable Funding Ratio (NSFR) (Individu)
A. NSFR CALCULATION
Reporting Position (September 2024)
Carrying Value Based on Residual Maturity
ASF Component
≥ 6 Months -
Non-specified Maturity < 6 Months
< 1 Year
1 Capital
2 Regulatory Capital as per POJK KPMM 256,642,240 - -
3 Other capital instruments - - -
4 Retail deposits and deposits from micro and small business
customers:
5 Stable Deposits 524,042,177 162,677,486 -
6 Less Stable Deposits 172,230,256 5,104,872 -
7 Wholesale Funding:
8 Operational deposits 213,355,914 - -
9 Other wholesale funding 341,943 30,459,974 -
10 Liabilities with matching interdependent assets - - -
11 Other liabilities and equity:
12 NSFR derivative liabilities - -
13 All other liabilities and equity not included in the above 41,020 32,489,775 283,151
categories
14 TOTAL ASF
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
(in million Rupiah)
Reporting Position (December 2024)
Weighted Carrying Value Based on Residual Maturity Weighted
Value Value
Non-specified ≥ 6 Months -
≥ 1 Year < 6 Months ≥ 1 Year
Maturity < 1 Year
137,500 256,779,740 264,429,302 - - 115,750 264,545,052
- - - - - - -
- 652,383,680 538,346,260 154,823,698 - - 658,511,460
- 159,601,615 155,192,761 12,485,765 - - 150,910,673
- 106,677,957 223,234,686 - - - 111,617,343
- 14,291,625 404,739 29,493,301 - - 13,715,475
- - - - - - -
- 35,415 - -
32,304 173,880 85,144 34,679,515 330,199 12,419 177,518
1,189,908,497 1,199,477,521
2024 Annual Report PT Bank Central Asia Tbk 223
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
34.a. Net Stable Funding Ratio (NSFR) (Individu)
Reporting Position (September 2024)
Carrying Value Based on Residual Maturity
RSF Component
Non-specified ≥ 6 Months -
< 6 Months
Maturity < 1 Year
15 Total NSFR HQLA
16 Deposits held at other financial institutions for operational 4,871,310 - -
purposes
17 Performing loans and securities
18 To financial institutions secured by Level 1 HQLA - 1,354,598 -
19 To financial institutions secured by non-Level 1 HQLA and - 34,480,844 3,981,470
unsecured performing loans to financial institutions
20 To non- financial corporate clients, retail - 170,772,979 122,296,781
and small business customers, government of Indonesia,
other sovereigns, Bank Indonesia, other central banks and
pubic service entities, of which:
21 Meet a risk weight of less than or equal to 35% under SE - 37,500 488,305
OJK ATMR for credit risk
22 Unpledged residential mortgages, of which: - 9,807 27,988
23 Meet a risk weight of less than or equal to 35% under SE - 288,257 987,621
OJK ATMR for credit risk
24 Securities that are unpledged, not in default and do not - 23,649,870 948,269
qualify as HQLA, including exchange-traded equities
25 Assets with matching interdependent liabilities - - -
26 Other assets:
27 Physical traded commodities, including gold -
28 Cash, securities and other assets posted as initial margin
for derivative contracts or contributions to default funds of
central counterparty (CCPs)
29 NSFR derivative assets
30 20% NSFR derivative liabilities before deduction of
variation margin posted
31 All other assets not included in the above categories 16,204 41,616,419 968,650
32 Off-balance sheet items
33 TOTAL RSF
34 Net Stable Funding Ratio (%)
224 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
(in million Rupiah)
Reporting Position (December 2024)
Weighted Carrying Value Based on Residual Maturity Weighted
Value Value
Non-specified ≥ 6 Months -
≥ 1 Year < 6 Months ≥ 1 Year
Maturity < 1 Year
20,208,270 19,636,348
- 2,435,655 4,020,259 - - - 2,010,130
- 135,460 - 815,041 - - 81,504
41,249,694 48,412,555 - 24,942,775 16,168,042 36,855,495 48,680,932
381,877,953 471,131,140 - 181,121,012 126,482,722 411,801,909 503,833,490
11,272,591 7,590,087 - 821 450,000 11,233,922 7,527,460
1,182,891 1,024,355 - 9,598 31,243 1,366,972 1,182,347
72,389,661 47,691,219 - 342,937 1,039,915 73,754,818 48,632,058
9,637,625 20,491,051 - 24,061,856 5,954,998 5,305,658 19,518,236
- - - - - - -
-
- - -
- - - -
830 830 - -
- 7,083 7,083
55,443,917 98,045,190 12,747 44,550,986 912,981 55,472,714 100,949,428
427,654,442 16,432,341 447,829,590 17,561,702
733,598,151 769,620,718
162.20% 155.85%
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
34.b. Net Stable Funding Ratio (NSFR) (Consolidated)
Reporting Position (September 2024)
Carrying Value Based on Residual Maturity
ASF Component
≥ 6 Months -
Non-specified Maturity < 6 Months
< 1 Year
1 Capital
2 Regulatory Capital as per POJK KPMM 266,204,997 - -
3 Other capital instruments - - -
4 Retail deposits and deposits from micro and small business
customers:
5 Stable Deposits 526,650,525 162,734,607 -
6 Less Stable Deposits 172,446,628 9,353,451 -
7 Wholesale Funding:
8 Operational deposits 219,394,078 - -
9 Other wholesale funding 353,241 40,467,190 76,296
10 Liabilities with matching interdependent assets - - -
11 Other liabilities and equity:
12 NSFR derivative liabilities - -
13 All other liabilities and equity not included in the above 157,927 26,608,618 283,151
categories
14 TOTAL ASF
226 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
(in million Rupiah)
Reporting Position (December 2024)
Weighted Carrying Value Based on Residual Maturity Weighted
Value Value
Non-specified ≥ 6 Months -
≥ 1 Year < 6 Months ≥ 1 Year
Maturity < 1 Year
137,500 266,342,497 273,329,336 - - 115,750 273,445,086
- - - - - - -
- 654,915,875 541,081,422 154,878,256 - - 661,161,694
- 163,620,071 155,419,066 16,672,018 - - 154,881,975
- 109,697,039 230,673,687 - - - 115,336,844
324,199 18,873,465 419,989 41,517,962 43,785 266,519 18,451,379
- - - - - - -
- - - -
218,240 476,546 198,195 25,970,403 330,199 12,419 290,569
1,213,925,492 1,223,567,547
2024 Annual Report PT Bank Central Asia Tbk 227
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
34.b. Net Stable Funding Ratio (NSFR) (Consolidated)
Reporting Position (September 2024)
Carrying Value Based on Residual Maturity
RSF Component
Non-specified ≥ 6 Months -
< 6 Months
Maturity < 1 Year
15 Total NSFR HQLA
16 Deposits held at other financial institutions for operational 4,889,296 - -
purposes
17 Performing loans and securities
18 To financial institutions secured by Level 1 HQLA - 1,611,229 -
19 To financial institutions secured by non-Level 1 HQLA and 22,734 37,426,389 4,082,648
unsecured performing loans to financial institutions
20 To non- financial corporate clients, retail - 172,225,887 126,657,082
and small business customers, government of Indonesia,
other sovereigns, Bank Indonesia, other central banks and
pubic service entities, of which:
21 Meet a risk weight of less than or equal to 35% under SE - 37,500 488,305
OJK ATMR for credit risk
22 Unpledged residential mortgages, of which: - 45,552 31,085
23 Meet a risk weight of less than or equal to 35% under SE - 288,257 987,621
OJK ATMR for credit risk
24 Securities that are unpledged, not in default and do not - 24,720,358 1,178,993
qualify as HQLA, including exchange-traded equities
25 Assets with matching interdependent liabilities - - -
26 Other assets:
27 Physical traded commodities, including gold -
28 Cash, securities and other assets posted as initial margin
for derivative contracts or contributions to default funds of
central counterparty (CCPs)
29 NSFR derivative assets
30 20% NSFR derivative liabilities before deduction of
variation margin posted
31 All other assets not included in the above categories 16,207 35,707,420 990,283
32 Off-balance sheet items
33 TOTAL RSF
34 Net Stable Funding Ratio (%)
228 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
(in million Rupiah)
Reporting Position (December 2024)
Weighted Carrying Value Based on Residual Maturity Weighted
Value Value
Non-specified ≥ 6 Months -
≥ 1 Year < 6 Months ≥ 1 Year
Maturity < 1 Year
21,202,186 20,822,467
- 2,444,648 4,096,777 - - - 2,048,389
- 161,123 - 1,366,282 - - 136,628
41,651,554 49,310,247 - 27,687,000 16,269,402 37,771,356 50,059,107
397,572,076 487,377,749 - 183,493,537 129,511,361 428,224,950 520,493,656
11,272,591 7,590,087 - 821 450,000 11,233,922 7,527,460
2,351,755 2,037,310 - 38,930 36,174 2,679,048 2,314,743
72,389,661 47,691,219 - 342,937 1,039,915 73,754,818 48,632,058
10,366,659 21,761,336 - 25,670,957 6,169,998 6,242,379 21,226,500
- - - - - - -
- - -
- - - -
830 830 - -
- -
49,464,100 86,178,010 12,747 36,242,344 930,017 49,620,327 86,805,435
429,876,572 16,477,645 450,823,120 17,663,638
742,232,389 777,730,080
163.55% 157.33%
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
B. QUALITATIVE ASSESSMENT ON NSFR
Analysis on Bank Only Financial Statement
• Based on the calculation, the value of Net Stable Funding Ratio (NSFR) – Bank Only as of 31 Dec 2024 decreased by 6.35% when
compared to the period of 30 Sep 2024; namely from 162.20% (as of 30 Sep’24) to 155.85% (as of 31 Dec’24). The decrease in the
NSFR value was due to the increase in the Required Stable Funding (RSF) component of 4.91% (Rp36.02 trillion) which was greater
than the increase in the Available Stable Funding (ASF) component of 0.80% (Rp9.57 trillion). The increase in the RSF component
was mainly due to the increase in loans classified as current and under special mention (performing loans) and securities not in
default amounting to Rp32.98 trillion and the increase in other assets amounting to Rp2.91 trillion. Meanwhile, the increase in the
ASF component was mainly due to the increase in the regulatory capital of Rp7.77 trillion and the increase in weighted value of
deposits provided by retail customers and funding provided by micro and small business customers as well as wholesale funding
of Rp1.80 trillion.
• The NSFR ratio of BCA on an individual basis currently meets the minimum requirement of 100%. It was supported by a fairly large
composition of stable funds (62.31%). The composition of Third Party Funds and Bank Funds can be seen in Table 1 below.
Table 1. Composition of Third Party Funds and Bank Funds - Bank Only as of Des 31, 2024.
Categories %
1. Retail
a. Fully covered and transactional 40.42%
b. Fully covered, non-transactional and related 13.60%
Stable Funds 2. MSME
a. Fully covered and transactional 7.97%
b. Fully covered, non-transactional and related 0.32%
Total Stable Funds 62.31%
1. Retail 13.70%
Unstable Fund
2. MSME 1.37%
Total Unstable Funds 15.07%
Total Operational Deposits 20.06%
Total Non-Operational Deposits 2.56%
Total Third Party Funds and Bank Funds 100.00%
230 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
B. QUALITATIVE ASSESSMENT ON NSFR
Analysis on Consolidated Financial Statement
• Based on the calculation, the value of Net Stable Funding Ratio (NSFR) - Consolidated as of 31 Dec 2024 decreased by 6.22% when
compared to the period of 30 Sep 2024; namely from 163.55% (as of 30 Sep’24) to 157.33% (as of 31 Dec’24). The decrease in the
NSFR value was due to the increase in the Required Stable Funding (RSF) component of 4.78% (Rp35.50 trillion) which was greater
than the increase in the Available Stable Funding (ASF) component of 0.79% (Rp9.64 trillion). The increase in the RSF component was
mainly due to the increase in loans classified as current and under special mention (performing loans) and securities amounting to
Rp34.46 trillion and the increase in other assets of Rp0.63 trillion. Meanwhile, the increase in the ASF component was mainly due to
the increase in the regulatory capital of Rp7.10 trillion and the increase in weighted value of deposits provided by retail customers
and funding provided by micro and small business customers as well as wholesale funding of Rp2.73 trillion.
• The NSFR ratio of BCA on a consolidated basis currently meets the minimum requirement of 100%. It was supported by a fairly large
composition of stable funds (61.19%). The composition of Third Party Funds and Bank Funds can be seen in Table 1 below.
Table 1. Composition of Third Party Funds, Revenue Sharing Investment Funds, and Bank Funds - Consolidated as of Dec 31, 2024
Categories %
1. Retail
a. Fully covered and transactional 39.74%
b. Fully covered, non-transactional and related 13.31%
Stable Funds 2. MSME
a. Fully covered and transactional 7.83%
b. Fully covered, non-transactional and related 0.31%
Total Stable Funds 61.19%
1. Retail 13.71%
Unstable Fund
2. MSME 1.42%
Total Unstable Funds 15.13%
Total Operational Deposits 20.28%
Total Non-Operational Deposits 3.40%
Total Third Party Funds and Bank Funds 100.00%
2024 Annual Report PT Bank Central Asia Tbk 231
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
35. Report On Asset Encumbrance - ENC - as of December 31, 2024
Bank Only
a b
Asset placed or pledged to Central
Encumbered
Bank but yet to be used to create
Asset
liquidity
1 Level 1 HQLA
a. Cash and Cash equivalent - -
b. Placement with Bank Indonesia:
- Current account - -
- Fine Tune Operation - -
- Deposit Facility - -
c. Bank Indonesia Marketable Securities - -
d. Bank Indonesia Rupiah Securities - -
e. Bank Indonesia Forex Securities - -
f. Bank Indonesia Sharia Bond - -
g. Reverse Repo (backed by HQLA Level 1) - -
h. Government Bonds (Rupiah) - 53,480,984
i. Government Bonds (Foreign currencies) - -
j. UST - Bond - -
2 HQLA Level 2A - -
3 HQLA Level 2B - -
TOTAL HQLA - 53,480,984
Qualitative Analysis
• Encumbered assets are bank assets restricted, both legally and contractually by the Bank, for supporting liquidity under stress
conditions. Encumbered assets do not include assets being placed with or pledged to Bank Indonesia but yet to be used to create
liquidity, as stipulated by the POJK on Obligation to Fulfill the Liquidity Coverage Ratio for Commercial Banks.
• Unencumbered assets are assets that qualify as High Quality Liquid Asset (HQLA) as stipulated by the POJK on Obligation to Fulfill
the Liquidity Coverage Ratio for Commercial Banks.
• Referring to the explanation of POJK No 42/POJK.03/2015 on Obligation to Fulfill the Liquidity Coverage Ratio for Commercial
Banks, article 9, sub-article (3) letter a, an example of encumbered assets placed with or pledged to Bank Indonesia, but yet to be
used to create liquidity, is the secondary statutory reserves (now known as the Macroprudential Liquidity Buffer).
• As 31 December 2024, BCA (both bank only and consolidated) did not have any HQLA position categorized as encumbered
assets.
232 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
(in million Rupiah)
Consolidated
c d a b c d
Asset placed or pledged to Central
Unencumbered Encumbered Unencumbered
Total Bank but yet to be used to create Total
asset Asset asset
liquidity
29,285,818 29,285,818 - - 29,315,815 29,315,815
35,165,855 35,165,855 - - 36,408,143 36,408,143
4,104,225 4,104,225 - - 4,104,225 4,104,225
3,999,417 3,999,417 - - 4,542,314 4,542,314
- - - - - -
92,095,315 92,095,315 - - 94,827,724 94,827,724
1,068,618 1,068,618 - - 1,068,618 1,068,618
- - - - 1,050,752 1,050,752
862,850 862,850 - - 1,414,090 1,414,090
175,177,330 228,658,314 - 54,435,581 178,523,729 232,959,310
7,631,532 7,631,532 - - 7,631,532 7,631,532
1,284,523 1,284,523 - - 1,284,523 1,284,523
8,741,256 8,741,256 - - 10,086,786 10,086,786
6,614,428 6,614,428 - - 8,010,365 8,010,365
366,316,671 419,797,655 - 54,435,581 379,077,019 433,512,600
2024 Annual Report PT Bank Central Asia Tbk 233
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
INDIVIDUAL CONVENTIONAL COMMERCIAL BANK MINIMUM CAPITAL ADEQUACY REQUIREMENT (KPMM)
AND RISK WEIGHTED ASSET (RWA) REPORT - ANNUAL
Form D1:Historical Loss Data Report
No. Business Indicator (BI) and component BI T T-1 T-2
Minimum limit of an operational loss event of
Rp300,000,000.00 (three hundred million Rupiahs) or more
1. Total net operating loss after calculating the recovery value - - -
(without exception)
2. Total occurrence of operational risk loss - - -
3. Total excluded operational risk loss - - -
4. Total occurrence of excluded operational risk loss - - -
5. Total net operating loss after calculating the recovery value - - -
and excluded operational risk losses
Minimum limit of an operational loss event of
Rp1,500,000,000.00 (one billion five hundred million
Rupiahs) or more
6. Total net operating loss after calculating the recovery value 42,715 1,832 0,07
(without exception)
7. Total occurrence of operational risk loss 7 1 -
8. Total excluded operational risk loss - - -
9. Total occurrence of excluded operational risk loss - - -
10. Total net operating loss after calculating the recovery value 42,715 1,832 0,07
and excluded operational risk losses
Details of capital calculation for operational risks
11. Are losses used in calculating the Internal Loss Multiplier Yes
(ILM)? (Yes/No)
12. If line 11 answer is 'No', is the internal loss data not use No
because of a discrepancy of the minimum standards for loss
data? (Yes/No)
13. Threshold used in calculating capital for operational risks (in 1,500,000,000
Rupiah full amount)
14. Other information (if any) Optional
234 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Average
T-3 T-4 T-5 T-6 T-7 T-8 T-9
10 Years
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
96,043 13,143 88 41,767 16,486 63,374 - 30,605
3 6 1 4 2 1 - 3
- - - - - - - -
- - - - - - - -
96,043 13,143 88 41,767 16,486 63,374 - 30,605
2024 Annual Report PT Bank Central Asia Tbk 235
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
INDIVIDUAL CONVENTIONAL COMMERCIAL BANK MINIMUM CAPITAL ADEQUACY REQUIREMENT (KPMM)
AND RISK WEIGHTED ASSET (RWA) REPORT - ANNUAL
Form D3: Business Indicator Detailed Report
Business Indicator (BI) and
No. T T-1 T-2
Component BI
1. Interest, Rent and Dividend Components 30,147,200
1a. Interest Income 82,110,428 68,103,869 62,039,167
1b. Interest Expense 9,812,313 6,212,171 7,832,564
1c. Earning Assets 1,333,369,009 1,256,127,958 1,178,464,483
1d. Dividend Income 1,914,400 1,702,184 2,045,885
2. Services Components 16,203,943
2a. Fees and Commission Income 16,884,778 16,522,759 14,568,393
2b. Fees and Commission Expenses 252,533 350,702 313,103
2c. Other Operating Income 64,286 111,112 50,113
2d. Other Operating Expenses 171,418 237,009 227,472
3. Financial Components 2,317,273
3a. Net Profit Loss Trading Book 1,461,667 1,004,971 1,883,343
3b. Net Profit Loss Banking Book 125,944 1,993,618 482,277
4. Business Indicator (BI) 48,668,416
5. Business Indicator Components (BIC) 6,850,262
Business Indicator Disclosure
6a. Total BI including divested activities 48,668,416
6b. BI reduction due to the exclusion of 0.00
divested activities
7. Additional information Optional
INDIVIDUAL CONVENTIONAL COMMERCIAL BANK MINIMUM CAPITAL ADEQUACY REQUIREMENT (KPMM)
AND RISK WEIGHTED ASSET (RWA) REPORT - ANNUAL
Form D5: RWA Calculation Report for Operational Risk using Standard Approach
No. Details T
1. Business Indicator Components (BIC) 6,850,262
2. Internal Loss Multiplier Factor (ILM) 0.6
3. Operational Risk Minimum Capital (ROC) 4,152,240
4. RWA for Operational Risks 51,903,001
236 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Risk Management Implementation Report for Operational Risk - Individual
1 Explanation of regulations, policies, and/or guidelines related to Operational Risk management.
In implementing operational risk management, the Bank implements several policies, including:
• Operational Risk Management Policy.
• Risk Management Basic Policy for The Use of Information Technology.
• Information Technology Management Policy.
• Cyber Security Risk Management Policy.
• Information Security Policy.
• Policy for Issuing Products/Activities and Provision of Supporting Information Technology Systems.
• Risk Exposure Assessment in Development of Bank Product Policy.
• Business Continuity Plan Policy.
The Bank also has regulations, procedures, and manuals that are derived from operational risk management policies. These
regulations are regularly reviewed to ensure compliance with applicable regulatory requirements, the development of Basel Accord
implementation, prudential banking principles, and other international best practices to ensure that operational risks are effectively
mitigated.
2 Explanation of the structure and organization of management and control functions related to Operational Risk.
The role and responsibility of the Bank in managing operational risk refers to The Principles of the Three Lines Model with the
following organizational structure:
Organizational Structure Authority/Responsibility
Board of Commissioners and Ensuring the application of risk management is adequate in correspondence with the Bank’s
Directors characteristics, complexity, and risk profile, as well as having a good understanding of the type and
level of risks that are inherent in the Bank’s business activities.
Risk Management Committee Ensuring the risk management framework provides adequate protection against the risks faced by
the Bank.
Risk Oversight Committee Assist the Board of Commissioners in carrying out risk oversight responsibilities to ensure that the
risk management framework provides adequate protection against all Bank risks.
Risk Management Division Ensuring the Bank to properly mitigates risks through identification, measurement, monitoring,
(MRK) control, and reporting in correspondence with the risk management framework, and capable of
addressing emergency situations that threaten the Bank’s business continuity.
Anti Fraud Bureau Strengthening the Bank’s internal control system through the implementation of anti fraud strategies.
Operation Strategy & Assessing, drafting, and ensuring policies and operational procedures, as well as services, are
Development Group developed while considering business and operational needs, compliance with regulators and other
relevant institutions, risk management and controls, and disseminating them to branches or related
work units to be easily understood and implemented effectively and efficiently.
Strategic Information Developing preventive measures to protect and secure the Bank’s information assets and information
Technology Group - technology infrastructure from various technological crimes (cybercrime) includes monitoring and
Information Technology testing the Bank’s cyber resilience.
Security Group
Working Unit (business units Risk owner who is responsible for day-to-day operational risk management and reports problems
and supporting unit) and operational risk incidents to MRK.
Internal Audit Division Review and assess the adequacy and effectiveness of the Bank’s risk management, internal control
and governance processes.
3 Explanation of the measurement system for Operational Risk (including the system and data used to calculate Operational Risk in
order to estimate the burden of capital charges for Operational Risk).
Operational risk is measured by examining the magnitude of the impact, the level of likelihood of occuring risk, and the level of control
applied to obtain an overview of the Bank’s operational risk profile and determine the priority of mitigation actions for existing risks.
The operational risk measurement system is periodically reviewed to ensure the suitability of assumptions, accuracy, appropriateness,
and data integrity, as well as the procedures used to measure operational risk.
The Bank has referred to SE OJK No. 6/SEOJK.03/2020 regarding the Calculation of Operational Risk Weighted Asset Using
Standardized Approach for Commercial Banks (SE OJK RWA). The data used in this calculation includes Business Indicator. Components
and Operational Risk Loss Data. The Bank has procedures for identifying, collecting, and handling operational risk loss data so that the
data has good quality to be used in calculating operational risk capital charges that are appropriate/reflect the Bank’s operational
loss exposure.
2024 Annual Report PT Bank Central Asia Tbk 237
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Risk Management Implementation Report for Operational Risk - Individual
Furthermore, the Bank has supporting operational risk management infrastructure in the form of the ORMIS application, which can
support three activities, namely:
• Risk and Control Self Assessment (RCSA)
RCSA serves as a tool for Risk Owners to identify, measure, monitor, and control risks with the aim of increasing risk awareness
culture in managing operational risks within each employee in carrying out daily activities. RCSA is carried out routinely once a
year.
• Loss Event Database (LED)
LED is used to administer and analyze operational events that have occurred and caused losses to the Bank. LED also as an
operational risk loss database to calculate the capital expenses from operational risk losses and a means to monitor operational
events that require follow-up.
• Key Risk Indicator (KRI)
KRI aims to provide an early warning sign to authorized officials of increasing operational risk indications in a working unit and
serves as a data source to identify processes, procedures, and controls that require attention.
4 Explanation of the scope and main coverage of the reporting framework for Operational Risk for executive officers and Directors
of the Bank.
As part of the active supervision of operational risks by the Board of Commissioners and/or the Board of Directors, the following
reports are provided:
1. Routine reports (periodic):
• Operational Risk Exposure Report.
• Operational Risk Profile Report.
• Operational Risk Management Implementation Report.
2. Incidental report:
Reports of operational risk analysis from incidental policy changes, system, and procedural changes, and other operational risk
events. These reports may include analyses of Bank’s operational systems and procedures in relation to operational incidents that
occurred internally or externally to the Bank which have a significant impact on operational losses.
5 Explanation of risk mitigation and risk transfer used in management for Operational Risk. This includes mitigation through
policy issuance (such as policies for risk culture, acceptable risk, and outsourcing), divestment of high-risk businesses, and the
establishment of control functions. Remaining exposure can be absorbed by the Bank or the risk may be transferred. For example,
the impact of operational losses can be mitigated through insurance.
The implementation of risk management in Banks is adjusted to the size and complexity of the Bank’s business and includes 4 pillars,
namely:
1. Active Supervision by the Board of Commissioners and Directors.
2. Adequacy of Risk Management Policies and Procedures, and Establishment of Risk Limits.
3. Adequacy of Risk Identification, Measurement, Monitoring, and Control Processes, and of the Risk Management Information
System.
4. Comprehensive Internal Control Systems.
The Board of Commissioners and the Board of Directors are responsible for the effectiveness of the Bank’s risk management
implementation. The preparation of policies related to risk management, including strategies, risk management frameworks, and
overall risk limits, is included in the authority and responsibility of the Board of Directors. These policies are prepared by considering
risk appetite and risk tolerance according to the Bank’s needs/conditions and considering the impact of risk on capital adequacy.
The establishment of policies, strategies, and risk management frameworks by the Board of Directors is carried out after obtaining
approval from the Board of Commissioners.
In general, the scope of operational risk management policies based on the causes of operational risks for example:
Risk Cause Operational Risk Management Policy Coverage
Internal Process Complexity 1. Control to prevent operational risks for all internal processes and those directly related to
customers.
2. Internal process transaction settlement procedures to ensure the effectiveness of the transaction
settlement process.
3. Accounting implementation procedures to ensure accurate accounting records.
4. Asset storage and custodian procedures, including documentation, required control for asset’s
physical security, and periodic checking on asset conditions.
5. Procedures for implementing product provision and other activities carried out by the Bank
6. Procedures for preventing and resolving fraud.
Human Resources Recruitment and placement according to organizational needs, competitive remuneration and
incentive structures, training and development, periodic rotation, career planning and succession
policies, handling of termination and union issues, and separation of work functions.
Systems and infrastructure Access procedures include management information systems, accounting information systems, risk
management systems, security in the dealing room, and data processing rooms.
External Incident Insurance coverage, data/system back-up, work safety guarantees, physical security procedures,
and cooperation agreements with third parties.
Operational risk of customer The Bank conducts Customer Due Diligence (CDD) or Enhanced Due Diligence (EDD) according to
and prospective customer operational risk exposure.
profiles
238 PT Bank Central Asia Tbk 2024 Annual Report
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Risk Management Implementation Report for Operational Risk - Individual
The Bank internalizes the implementation of operational risk management across all business lines and support to ensure the adequacy
of operational procedures and controls and develop awareness culture of the importance of operational risk management on an
ongoing basis.
The Bank implements comprehensive risk management in every implementation of Bank’s products and services. The Bank also
measures or assesses the materiality of increasing risk exposure to Bank Products and continuously monitors these risks. Risk
management for the implementation of Bank Products also refers to regulatory provisions, including:
• OJK regulation No. 13/POJK.03/2021 concerning the Implementation of Commercial Bank Products.
• OJK Regulation No. 21 of 2023 concerning Digital Services by Commercial Banks.
• PADG No. 24/7/PADG/2022 concerning the Implementation of Payment Systems by Payment Service Providers and Organizers.
• Other regulatory provisions.
The Bank conducts a post-implementation review of the implemented Bank Products to monitor the achievement of targets and the
adequacy of risk mitigations.
With the increase in the provision of digital services that have led to a high need for processing customer personal data and the
implementation of Law Number 27 of 2022 concerning Personal Data Protection (UU PDP), the Bank has a unit that coordinates
Personal Data Protection. The Bank actively reviews the policies/procedures/systems used to ensure that the policies/procedures/
systems are in accordance with regulations and customer needs. The Bank also provides training related to PDP to increase employee
awareness.
To minimize the impact of disruptions that can be caused by technology, disease outbreaks, natural disasters, or humans that can
affect operational activities and services to customers, the Bank implements Business Continuity Management, has a Business
Continuity Plan (BCP), a Disaster Recovery Center connected to 2 (two) main Data Centers, Secondary Workplace, Command and
Crisis Center, and routinely conducts socialization of BC awareness and testing of BCP, including cyber incident simulations.
Digital transformation has led to increasing use of IT to support operational activities and provide services to customers, but on the
other hand, it increases the risk to the Bank’s operations so that the Bank strives to increase maturity in IT implementation and the
ability to handle risks that may arise from the use of IT, including by:
• Implementing cyber security risk management referring to the Bank’s strategy and regulatory directives.
• Establishing procedures for handling information security incidents, forming an Information Security Incident Response Team
(ISIRT), and a Security Monitoring Center (SMC).
• Conducting routine security awareness socialization for workers and management.
• Conducting ongoing education efforts for customers.
In mitigating risks in the use of outsourced labor, the Bank has provisions for Outsourcing Management that refer to regulatory
provisions, including work that can be outsourced to service providers are supporting service activities or those that are not
directly related to the Bank’s main activities. Meanwhile, in managing risks related to third parties, there are Provisions for Procurement
of Goods and/or Services that apply the multi-vendor principle and periodic vendor evaluations.
2024 Annual Report PT Bank Central Asia Tbk 239
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CONSOLIDATED CONVENTIONAL COMMERCIAL BANK MINIMUM CAPITAL ADEQUACY REQUIREMENT (KPMM)
AND RISK WEIGHTED ASSET (RWA) REPORT - ANNUAL
Form D1: Historical Loss Data Report
No. Business Indicator (BI) and component BI T T-1 T-2
Minimum limit of an operational loss event of
Rp300,000,000.00 (three hundred million Rupiahs) or more
1. Total net operating loss after calculating the recovery value - - -
(without exception)
2. Total occurrence of operational risk loss - - -
3. Total excluded operational risk loss - - -
4. Total occurrence of excluded operational risk loss - - -
5. Total net operating loss after calculating the recovery value - - -
and excluded operational risk losses
Minimum limit of an operational loss event of
Rp1,500,000,000.00 (one billion five hundred million
Rupiahs) or more
6. Total net operating loss after calculating the recovery value 42,715 1,832 0,07
(without exception)
7. Total occurrence of operational risk loss 7 1 -
8. Total excluded operational risk loss - - -
9. Total occurrence of excluded operational risk loss - - -
10. Total net operating loss after calculating the recovery value 42,715 1,832 0,07
and excluded operational risk losses
Details of capital calculation for operational risks
11. Are losses used in calculating the Internal Loss Multiplier No
(ILM)? (Yes/No)
12. If line 11 answer is 'No', is the internal loss data not use Yes
because of a discrepancy of the minimum standards for loss
data? (Yes/No)
13. Threshold used in calculating capital for operational risks (in 1,500,000,000
Rupiah full amount)
14. Other information (if any) Optional
240 PT Bank Central Asia Tbk 2024 Annual Report
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Average
T-3 T-4 T-5 T-6 T-7 T-8 T-9
10 Years
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
96,043 13,143 88 41,767 16,486 63,374 - 30,605
3 6 1 4 2 1 - 3
- - - - - - - -
- - - - - - - -
96,043 13,143 88 41,767 16,486 63,374 - 30,605
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CONSOLIDATED CONVENTIONAL COMMERCIAL BANK MINIMUM CAPITAL ADEQUACY REQUIREMENT (KPMM)
AND RISK WEIGHTED ASSET (RWA) REPORT - ANNUAL
Form D3: Business Indicator Detailed Report
Business Indicator (BI) and
No. T T-1 T-2
Component BI
1. Interest, Rent and Dividend Components 28,855,932 - -
1a. Interest Income 87,726,825 72,663,805 66,038,144
1b. Interest Expense 10,549,776 6,667,238 8,158,468
1c. Earning Assets 1,364,336,598 1,282,277,431 1,196,795,462
1d. Dividend Income 34,525 46,527 10,029
2. Services Components 16,355,833
2a. Fees and Commission Income 16,833,376 16,739,240 14,823,384
2b. Fees and Commission Expenses 273,221 374,357 343,015
2c. Other Operating Income 64,286 111,117 50,113
2d. Other Operating Expenses 193,939 239,496 238,065
3. Financial Components 2,348,989
3a. Net Profit Loss Trading Book 1,457,516 899,083 1,912,781
3b. Net Profit Loss Banking Book 197,509 2,044,147 535,931
4. Business Indicator (BI) 47,560,753
5. Business Indicator Components (BIC) 6,684,113
Business Indicator Disclosure
6a. Total BI including divested activities 47,560,753
6b. BI reduction due to the exclusion of 0.00
divested activities
7. Additional information Optional
CONSOLIDATED CONVENTIONAL COMMERCIAL BANK MINIMUM CAPITAL ADEQUACY REQUIREMENT (KPMM)
AND RISK WEIGHTED ASSET (RWA) REPORT - ANNUAL
Form D5: RWA Calculation Report for Operational Risk using Standard Approach
No. Details T
1. Business Indicator Components (BIC) 6,684,113
2. Internal Loss Multiplier Factor (ILM) 1
3. Operational Risk Minimum Capital (ROC) 6,684,113
4. RWA for Operational Risks 83,551,413
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Risk Management Implementation Report for Operational Risk - Consolidated
1 Explanation of regulations, policies and/or guidelines related to risk management for Operational Risk.
The Bank as the main entity of the Financial Conglomerate integrates the risk management implementation in the Financial
Conglomerate by referring to regulatory provisions. The Bank has a Basic Policy for Integrated Risk Management, which aims to:
1. Develop a common perception in looking at risk.
2. Emphasize the responsibility to manage risks on Banks and Subsidiary Companies.
3. Ensure all risks can be controlled properly.
Policy updates are carried out periodically to comply with applicable regulatory provisions, the Basel Accord, prudential banking
principles, and other international best practices. The following are some of the policies that Banks have:
• Operational Risk Management Policy.
• Risk Management Basic Policy for the Use of Information Technology.
• Information Technology Management Policy.
• Cybersecurity Risk Management Policy.
• Information Security Policy.
• Risk Exposure Assessment in Development of Bank Product Policy.
• Banking Synergy Collaborative Provision with Subsidiary Companies.
• Integrated Business Continuity provisions for BCA Financial Conglomerate.
The risk management policies, including strategy, risk management framework, and overall risk limits, is included in the authority
and responsibility of the Board of Directors. This policy is developed by considering risk appetite and risk tolerance according to
the Financial Conglomerate’s needs/conditions and considering the impact of risk on capital adequacy. The Board of Directors
establishes policies, strategies, and risk management frameworks after obtaining approval from the Board of Commissioners.
2 Explanation of the structure and organization of management and control functions regarding to Operational Risk.
In managing operational risks, the Bank refers to The Principle of the Three Lines Model with the following organizational structure:
Organizational Structure Authority/Responsibility
Board of Commissioners and Ensuring the implementation of risk management is adequate in accordance with the characteristics
Board of Directors and complexity of the Financial Conglomerate’s business, as well as properly understanding the
types and levels of inherent risk in the Financial Conglomerate.
Integrated Risk Management Ensuring the integrated risk management framework provides adequate protection against the risks
Committee faced by the Financial Conglomerate.
Risk Oversight Committee Assist the Board of Commissioners in ensuring the risk management framework provides adequate
protection against all risks faced by Financial Conglomerate.
Risk Management Work Unit Ensuring the risks faced by the Financial Conglomerate can be identified, measured, monitored,
(MRK) controlled and reported correctly through the implementation of an appropriate risk management
framework. In carrying out its duties, MRK coordinates with working units that carry out risk
management functions in each subsidiary company.
Anti Fraud Bureau Strengthening the Bank’s internal control system through implementing anti fraud strategies.
Operation Strategy & Assessing, establishing, and ensuring operational services policies and procedures by considering
Development Group business and operational needs, its compliance with the regulator, risk management and control,
and disseminating it to branches and related working units so that its easily to be understood and
implemented effectively and efficiently.
Strategic Information Developing preventive measures to protect and secure the Bank’s information assets and information
Technology Group - technology infrastructure from various technological crimes (cybercrime) including monitoring and
Information Technology testing the Bank’s cyber resilience.
Security Group
Working Units (business units Risk owner who is responsible for managing daily operational risks as well as reporting operational
and supporting units) risk incidents to MRK.
Internal Audit Division Examine and assess the adequacy and effectiveness of the Financial Conglomerate’s risk
management, internal control and governance processes.
Risk management implementation in each subsidiary company refers to the regulatory provisions. In the organizational structure,
each subsidiary company has a working unit that carries out risk management functions to ensure the risks faced by each subsidiary
company can be managed properly.
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3 Explanation of the measurement system for Operational Risk (including the system and data used to calculate Operational Risk in
order to estimate capital charges for Operational Risk).
Operational risk measurement is conducted to determine operational risk exposure on a consolidated basis. The Bank refers to the
regulator’s direction in OJK Circular Letter No. 6/SEOJK.03/2020 concerning Calculation of Operational Risk-Weighted Assets Using
the Standardized Approach for Commercial Banks in calculating capital charges for operational risks on a consolidated basis. The
data used in these calculations include Business Indicator Components and Operational Risk Loss Data. The Bank is aware of the
importance in collecting good and high-quality operational risk events data from the Bank and subsidiary companies so that the Bank
can estimate capital expenses in accordance with the exposure to operational losses experienced on a consolidated basis.
Each subsidiary company has the tools to manage operational risk loss data and identify and measure risks according to the complexity
of its business and also has web-based application, namely the Integrated Risk Management Information System (IRMIS) to report
operational risk data to Bank.
4 Explanation of the scope and main coverage of the reporting framework for Operational Risk for the Bank’s executive officers and
Board of Directors.
In the context of active supervision by the Board of Commissioners and/or the Board of Directors of the main entity, there are reports
submitted as follows:
1. Routine reports (periodic):
• Financial Conglomeration Risk Exposure Report.
• Integrated Risk Profile Report.
2. Incidental report:
Reports of operational risk analysis from incidental changes to policies, systems, and procedures, as well as other operational risk
events. These reports may include analysis of the Bank’s operational systems and procedures in relation to operational events,
internal or external to the Bank, which have a significant impact on financial conglomeration.
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Risk Management Implementation Report for Operational Risk - Consolidated
5 Explanation of risk mitigation and risk transfer used in management for Operational Risk. This includes mitigation by issuing policies
(such as policies for risk culture, acceptable risk, and outsourcing), by divesting high-risk businesses, and establishing control
functions. The remaining exposure can be absorbed by the Bank or for risk transfer. For example, the impact of operational losses
can be mitigated with insurance.
The implementation of integrated risk management includes 4 pillars, namely:
1. Active Supervision by the Board of Commissioners and Directors of the Main Entity.
2. Adequacy of Integrated Risk Management Policies and Procedures, and Establishment of Risk Limits.
3. Adequacy of Integrated Risk Identification, Measurement, Monitoring, and Control Processes, and of the Risk Management
Information System.
4. Comprehensive Internal Control Systems for the Implementation of Integrated Risk Management.
In implementing integrated risk management, the Bank develops policies that at least contain the following:
• Establishment of risks related to the Financial Conglomerate’s business activities.
• Formulation of Integrated Risk Management strategies.
• Establishing the use of measurement methods and Integrated Risk Management information systems.
• Establishment of risk strategies and frameworks in correspondence with the level of risk to be taken (risk appetite) and risk
tolerance.
• Establishment of risk rating assessment methods.
• Establishment of an internal control system in implementing Integrated Risk Management.
• Emergency plans (contingency plans) in the worst conditions (worst-case scenario).
In the process of implementing Bank products in collaboration with Subsidiary Companies, the Bank conducts a comprehensive risk
analysis to ensure that identified risks have adequate risk control or mitigation. The Bank and Subsidiaries also do a banking synergy
collaboration in the context of optimizing resources to support the implementation of business activities. Banking synergy collaboration
is conducted by taking notice of compliance with regulatory provisions, business potential, possible risks, and operational readiness
of the Bank and Subsidiaries, as well as referring to the principles of good corporate governance, including the arm’s length principle.
The existence of digital transformation has led to an increased use of IT to support operational activities and provide services
to customers/consumers, but on the other hand it has increased the operational risks of companies as a conglomerate. With the
increase in the provision of digital services, which has resulted in a high need for processing customer personal data as well as the
implementation of Law Number 27 of 2022 concerning Personal Data Protection (UU PDP), Banks and Subsidiary Companies have
internal provisions that regulate the implementation of PDP. In addition, the Company, as a conglomerate, seeks to increase maturity
in IT implementation and the ability to handle risks that may arise from the use of IT, including by:
• Implementing cyber security risk management referring to the Company’s strategy and the regulator’s direction.
• Establishing procedures for handling information security incidents, establishing the Information Security Incident Response Team
(ISIRT) and Security Monitoring Center (SMC).
• Increasing employee awareness regarding cyber security through risk awareness programs, such as phishing simulations, which
are conducted periodically. The Bank also conducts educational efforts for customers on an ongoing basis.
To minimize the impact of disruption and damage that can be caused by natural or human disasters that can affect the operational
activities of the Financial Conglomerate, the Bank has provisions for Integrated Business Continuity for Financial Conglomerates,
which, among other things, regulate coordination to support an optimal recovery process.
2024 Annual Report PT Bank Central Asia Tbk 245
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis Business Support Human Capital Management A holistic approach to human resources development and management ensures that BCA’s strong corporate culture, unity, and standards of excellence are nurtured and maintained as the foundation for growth 246 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
BCA’s success and achievements By leveraging technology and talent from firsthand experience, the FLY
are inseparable from the people networks, BCA has streamlined program comes with the Journey and
who made them possible. It is its recruitment process, reducing Experience Tracking System (JETS)
ingrained within BCA’s vision and HR processing time. Recruitment to monitor the adaptation process of
mission statements that humans are is conducted through platforms new employees.
the backbone of BCA’s business such as BCA’s website (karir.bca.
operations and in achieving company co.id), Instagram (@lifeatbca), and To ensure incoming leaders are well-
goals. To stay competitive in the LinkedIn at PT Bank Central Asia Tbk. equipped with skills and abilities,
evolving banking industry, BCA invests Additionally, digital tracking systems BCA created a preliminary program
in developing new skills to ensure and Robotic Process Automation called the Induction Program to
adaptability and competitiveness. (RPA) have enhanced recruitment prepare leaders to understand their
efficiency. The Human Capital respective roles’ responsibilities and
Alongside human capital Management division implemented organizational functions. This also
development, BCA fosters a strong 60 RPAs during 2024 to onboard applies to BCA’s branches, where
organizational culture based on 1,969 employees and engage 3,982 new branch managers are paired
its core values: Customer Focus, participants in the BCA Magang Bakti with a Branch Manager Buddy to
Integrity, Teamwork, and Continuous internship program. help them adapt faster to the new
Pursuit of Excellence. The OneBCA environment while simultaneously
initiative, guided by the “SENADA” CREATING FUTURE LEADERS carrying out their duties. Additionally,
(SEtia, NAungi, DAmpingi) principle, the Advisory Program supports new
promotes collaboration, creating BCA prioritizes leadership leaders in mentoring their teams and
a positive environment that aligns regeneration by offering tailored aligning with the company culture.
employees with the company’s long- programs to prepare new leaders for
term goals. key roles. The BCA LEADER+ program CULTIVATING DIGITAL
identifies 10 essential leadership COMPETENCIES AND AN
BCA’s strategy includes developing traits, while initiatives such as INNOVATIVE MINDSET
leaders who embody these values to Career Development, Leadership
ensure cultural continuity. The BCA Development, and Transformational BCA embraces digitalization by
LEADER+ program cultivates strong & Situational Leadership programs fostering innovation through training
leaders, helping the organization to equip leaders to manage internal and in RPA, low-code programming,
remain innovative and committed external risks. Through coaching and design thinking, UI/UX, data analysis,
to its mission as it faces future collaboration, the GEMBA (Downward machine learning, blockchain, and
challenges. Management Movement) program cybersecurity. The Digital Buddy
enhances field understanding, team Program enhances knowledge
RECRUITING HIGH-QUALITY engagement, and problem-solving. sharing via the Community of
TALENTS Additionally, BCA supports leadership Practice (CoP) and Data Community.
growth by providing scholarships for Initiatives such as the BCA Innovation
In the dynamic banking industry, master’s degrees at top universities, Convention (BIC) and Kaizen
attracting and retaining high- strengthening skills and human Championship empower employees
quality talent is essential to address resource quality. to propose workflow improvements,
emerging challenges. BCA’s long- which standout ideas implemented
term strategy focuses not only on MENTORSHIP/BUDDY company-wide. BCA provides
recruiting top talent but also on SYSTEM FOR NEW tailored digital learning resources to
maintaining them. The recruitment, EMPLOYEES AND LEADERS support continuous growth, including
training, and development process e-Learning, micro-learning, audio
starts with aligning candidates with Embodying the SENADA spirit, and video learning, digital library,
BCA’s core values: Customer Focus, BCA guides all employees, from as well as the adoption of the latest
Integrity, Teamwork, and Continuous newcomers to leaders. The FLY technology in the form of Generative
Pursuit of Excellence. (First Learning Year) Program pairs AI is also carried out to provide more
new employees with experienced personalized learning support for
mentors called buddies, helping them employees.
adapt quickly and build confidence
through experiential learning. Apart
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Business Support
Human Capital Management
UTILIZING DIGITAL TECHNOLOGY TO DRIVE BCA earned achievements at the Indonesia Human Capital
EMPLOYEE ENGAGEMENT Awards (IHCA) 2024, including Best Company in Human
Capital Pinnacle Award-Best of The Best Company, Best
BCA uses digital platforms to measure employee Company in Transformation in Strategic Human Capital,
engagement, including the 2024 Team Engagement Best Company in Green HR, and Best Company in Digital/
Survey, distributed via a third-party platform for analysis. Technology. It also secured recognition at the Human
BCA has implemented apps like MyGrowth for performance Resources Excellence Awards 2024 for Learning &
management, MyXperience as an internal social platform, Development (L&D) and Knowledge Management, Reward
MyWiki as internal dictionary, and MyDevelopment for Management & Talent Retention Strategy, and Employer
learning and development activities. Branding & Talent Acquisition. These achievements
underscore BCA’s dedication to foster a supportive and
Additionally, BCA developed HC Inspire, a user-friendly app innovative workplace, led by Mrs. Lianawaty Suwono,
offering HR services like MySolution to file and submit sick BCA’s Human Resources and Compliance Director, who
leave easily, overtime, and other permits online, alongside was honored with Best HC Director 2024 - HC Visionary
EViA, a built-in chatbot for HR inquiries. Additionally, BCA is Exemplar Star.
developing MySaku, a wellness reward system, to support
employee well-being initiatives. FUTURE PLANS
FOSTERING A POSITIVE ENVIRONMENT TO Moving forward, BCA aims to optimize human capital
INCREASE PRODUCTIVITY through strategic workforce planning, productivity
monitoring, competency development, and HR process
BCA values its employees as key assets, and fostering automation. Committed to foster a positive work culture
a positive work environment is essential for retaining by strengthening the value of integrity to build strong
talent. Through its Employer Value Proposition (EVP), BCA relationships with stakeholders, as well as creating a
promotes a Friendly Working Environment and Continuous positive work environment, BCA emphasizes meaningful
Improvement. The One BCA initiative, including TEAAA relationships and employee well-being programs to
(Team Engagement Action Action Action), encourages recognize and nurture individual potential. By prioritizing
employees to commit and contribute their best efforts to reskilling and upskilling, BCA equips employees with
achieve company goals. innovative mindsets and technical skills to adapt to a fast-
paced, digital-driven industry.
As part of the Always by Your Side promise, BCA will
continue to provide employees with a supportive
workplace and resources to gain new skills. Working
policies support agility, self-improvement programs, and
employee well-being within the organization, creating a
conducive environment. Recent developments led to more
flexible working conditions such as BCA TouchPoint, Flexi-
Time, and flexible benefit.
BCA received several prestigious awards in 2024,
reflecting its commitment to human capital development.
These included the HR Asia Best Companies to Work for in
Asia award for the sixth consecutive year and the HR Asia’s
Most Caring Company Award nomination. Domestically,
248 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements Business Support Network and Operation BCA consistently focuses on delivering superior experience across all channels to maintain customer trust and grow the business 2024 Annual Report PT Bank Central Asia Tbk 249
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Business Support
Network and Operation
DELIVERING BEST QUALITY SERVICES AND Uniting digital technology with human services is
OPERATIONS FOR CUSTOMERS advantageous in ensuring customer satisfaction,
convenience, and trust. The Bank’s branch network
The quality and reliability of BCA’s network and operations allows BCA to identify opportunities and penetrate high-
play a critical role in maintaining customer trust and potential, underserved areas in Indonesia. As such, BCA
growing the business. As part of its strategy to serve and strategically expands its branch network based on current
grow its customer base, BCA continues to enhance and market conditions.
expand its network in the Bank’s branches and digital
channels. The goal is to provide a superior experience In 2024, BCA operated 1,264 offices comprising of 138 Main
that meets the needs of BCA’s customers based on their Branches and 1,126 Branches. Furthermore, BCA managed
preferred channels. Despite the growing popularity of 59 BCA Express, 3 BCA Express Mobile, 4 Mobile Branches,
digital transactions, BCA’s physical branch offices are still and 23 Functional Offices. BCA also operated a total of
an integral part to the Bank’s ecosystem. 19,543 ATMs most of which are deposit-withdrawal ATMs
and cash-withdrawal ATMs, in addition to other electronic
ENHANCING CUSTOMER’S BRANCH banking terminals.
EXPERIENCE
SEAMLESS INTEGRATION OF BRANCH AND
Branch offices remain an important part of customer DIGITAL SERVICES
experience—serving as touchpoints while also allowing
the Bank to build meaningful relationships with customers One of BCA’s advantages is its hybrid service model,
and communities. In recent years, BCA has increased the which integrates branch capabilities with digital channels.
efficiency and capabilities of its branch office network by While digital platforms offer convenience and efficiency
integrating digital technology to foster service excellence, for routine transactions, branches remain essential for
and it has supported the strategy with staff reskilling and customers requiring further assistance as well as handling
upskilling. Through digital technology, customers are able to complex transactions. This synergy ensures that customers
save time by using self-service customer service machines expect the same level of attention, convenience, and
to address their needs. BCA also offers eService tablets for satisfaction.
customers, allowing them to open new accounts and print
Tahapan bank statements. Additionally, customers can be An example of BCA’s hybrid service model would be
assisted by customer service staffs for more personalized opening accounts online using the application’s face
services. recognition feature. Customers can also access digital
e-Statements, e-Deposits, QRIS payments, Investment
Upholding the promise of providing quality service, BCA Products through myBCA application, loan payments and
includes staff members in branch offices with training withdrawals through KlikBCA Bisnis, as well as Outward
sessions and development programs. To benchmark Remittances through KlikBCA Individu.
the efficacy of these programs, Gallup’s Customer
Engagement (CE) surveys are conducted from time to time To complement the Bank’s digital channels, all banking
to monitor and gauge the level of customer satisfaction. transactions, throughout branches or digital channels
BCA incentivizes staff to deliver and provide excellent are supported by Halo BCA as BCA’s contact center.
service through rewards and recognition, including team Customers can engage with Halo BCA through multiple
awards as well. channels, including social media, WhatsApp, webchat,
e-mail, X or Twitter, and the Halo BCA application. These
diverse communication channels enable customers to
contact Halo BCA based on their individual preferences in
the way that they are most comfortable.
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
ADVANCING CUSTOMER’S DIGITAL PLANS FOR FUTURE DEVELOPMENT
EXPERIENCE
Anticipating ever-changing customer needs, BCA remains
With plans to expand its network and operations, BCA committed to support the continuous development of
aims to create a strong ecosystem for its digital channels. innovative solutions and services. The Bank plans to expand
Emphasizing customer satisfaction, BCA focuses on its branch office networks strategically, primarily focusing
improving user experience (UX) and user interface (UI) on areas with significant growth potential while developing
design to create an intuitive, user-friendly, and secure e-channel capabilities.
application. Regular updates and enhancements are
conducted to satisfy customers’ needs. To guarantee operational efficiency and effectiveness,
BCA will continue to invest in state-of-the-art technology
At the operational level, BCA prioritizes efficient, secure, systems that align with the development of human
and reasonable solutions. With “Always On” technology resources. The implementation of a hybrid service
acting as underlying support for these solutions, BCA aims model will continue to strengthen BCA’s future service
to reduce the possibility of network interruptions, ensuring ecosystem.
24/7 accessibility for its users. Continuous innovation,
supported by robust infrastructure, allows BCA to meet Through these efforts, BCA reaffirms its commitment to
customer expectations and maintain its position as a leader provide quality services and operations, strengthening its
in digital banking services. role as a trusted partner in its customers’ financial journeys,
and driving mutual growth within its ecosystem.
Concurrently, these digital features are always integrated
into brick-and-mortar touch points, enabling customers to
do their banking activities seamlessly for 360° convenience
and experience.
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis Business Support Information Technology BCA continuously invests in modernizing and upgrading its information technology capabilities to operate seamlessly and safely as the main priority in this digital era 252 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
BCA continues to elevate its digital the Deposit Transaction Database, HUMAN RESOURCE
banking services, focusing on database separation, back-office DEVELOPMENT FOR IT
innovation to address evolving system offloading, migration of
customer needs. In the post- DBValas to an Open System platform, Underscoring the importance of
COVID-19 era, shifting preferences and Container Platform contributed competent human resources, the BCA
toward a hybrid model of online to improved transaction speed and IT division recruited 207 employees
and onsite transactions have made security. in 2024, bringing the total number of
mobile and internet banking strategic IT employees to 2,316, strategically
priorities, ensuring convenience and STRENGTHENING SECURITY expanding its recruitment of
reliability. SYSTEMS TO ENHANCE professionals to cities like Bandung,
RELIABILITY Yogyakarta, and Surabaya.
LEVERAGING TECHNOLOGY
FOR INNOVATION AND BCA operates a 24-hour Security PLAN FOR FUTURE
PRODUCTIVITY Monitoring Center to combat DEVELOPMENT
cybersecurity risks and implements
BCA has leveraged advanced awareness programs for customers In summary, BCA plans to focus on
technologies including Robotic and employees through e-learning, ensuring reliable, always-on digital
Process Automation (RPA), Optical training, and phishing simulations. services through infrastructure
Character Recognition (OCR), Advanced tools like Data Loss modernization, a new data center,
Natural Language Processing (NLP), Prevention systems, AI, and Machine and migrating legacy systems
Augmented Reality (AR), Artificial Learning enhance data protection and to open systems. Key priorities
Intelligence, Video Surveillance, enable real-time anomaly detection. include advancing microservices-
Application Programming Interfaces, Key platforms, including ATMs, credit based architecture, integrating
and Machine Learning to automate cards, and internet banking, are Open Banking APIs, enhancing the
internal processes. Core systems equipped with Security Orchestration Work From Anywhere model, and
have been modernized using an Open and Automation Response (SOAR) leveraging AI for early problem
System platform with microservices and Security Information & Event detection and resolution. BCA aims
and container technology to support Management (SIEM) systems. BCA to strengthen its digital ecosystem
initiatives like New Digital Core also benchmarks its cybersecurity by exploring technologies like
Banking, Time Deposits, and Trade maturity against global standards Generative AI and Blockchain, as well
Infrastructure. Data security has and performs incident simulations to as modernizing systems with hybrid
been strengthen through personal ensure robust governance. cloud technology. Enhanced data
data security in Big Data and integration and new features in the
Data Warehouses, Customer 360 ENHANCING DIGITAL myBCA app (BCA Mobile and KlikBCA
Information, and enhanced fraud SERVICES AND Business) will improve customer-
detection algorithms for e-channel APPLICATIONS focused services and operational
systems. efficiency.
myBCA mobile banking app integrates
IMPROVING IT branch transactions, mobile banking,
INFRASTRUCTURE and internet banking to deliver a
CAPABILITIES seamless experience for individual
and business customers. BCA’s Citizen
Infrastructure modernization is Developer initiative streamlines the
a priority, with High Availability Software Development Life Cycle by
Systems and Cloud Technology to empowering internal teams to create
ensure seamless operations and tailored applications, enhancing
swift recovery from disruptions. The efficiency and work processes. To
New Data Center, compliant with stay ahead in the digital era, BCA
regulations, supports increasing explores emerging technologies like
transaction volumes and subsidiary Blockchain and Generative AI.
integration while serving as a testing
hub for new applications. Other
modernization initiatives for 2024
include the implementation of a
new internal API, the redesign of
2024 Annual Report PT Bank Central Asia Tbk 253
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis Economy, Banking Sector, and BCA Financial Review BCA maintained quality credit growth, a strong capital position, and sound liquidity 254 PT Bank Central Asia Tbk 2024 Annual Report
Page 257
Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
ECONOMIC REVIEW
The Indonesian economy remained resilient during The GDP was augmented by a slight increase in investment
2024, despite substantial challenges for both global and growth at 4.3% due to the government’s downstreaming
domestic. The much-anticipated Fed rate cuts did arrive efforts, which attracted new investments and contributed
starting in September, but it was overshadowed by rising to the strong loan growth performance in 2024.
US long-term yields amid fears of wider fiscal deficits
and President Trump’s tariffs. The result was a continued Public projects also continued to be a substantial driver,
appreciation of the US Dollar. Bank Indonesia therefore with the heavy investment in infrastructure under President
implements prudent monetary policy, slowing down Jokowi transitioning into food estate and energy self-
policy rate cuts, to maintain macro stability and safeguard sufficiency programs under President Prabowo.
Indonesia’s economy to remain conducive.
The Rupiah closed the year weaker at Rp16,102/USD, but
Commodities remained a mixed bag, with agricultural the degree of depreciation was to be expected amid
commodities (especially CPO) gaining but coal and metals rallying USD and greater financing needs at home.
still weighed down by oversupply in China. Throughout Overall, the Rupiah remains among the better-performing
2024, the gap between China’s supply-side strength and currencies in emerging Asia, thanks to BI’s mix of cautious
demand-side weakness has grown, increasing volatility on monetary policy, accommodative macroprudential
global trade. policies, and strategic interventions in the currency, bonds,
and money markets.
Domestically, the year was punctuated by General and
Regional Elections, which boosted growth in the short-
term. Inflation rapidly cooled towards a historically low
rate of 1.57% on account of stabilizing food prices, which
helped maintain consumption growth at a relatively healthy
clip of 4.9% (up to Q4).
2024 Annual Report PT Bank Central Asia Tbk 255
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
BANKING SECTOR OVERVIEW BCA played a significant role in supporting the growth
AND SUMMARY OF BCA’S 2024 of the banking industry and sustainably executing its
PERFORMANCE intermediation functions. In 2024, BCA successfully
The Indonesian banking sector demonstrated resilient delivered solid financial performance. By adopting prudent
performance in the middle of moderate economic growth risk management, the bank maintained high-quality credit
and dynamic global environment. Loans grew by 10.4% growth, robust capitalization, and healthy liquidity.
year-on-year, maintaining double-digit growth similar
to previous year, which saw a growth of 10.3%. The At the end of 2024, BCA’s total consolidated assets grew
growth was primarily driven by investment loans, which by 2.9% from the previous year, reaching Rp1,449.3 trillion.
rose by 13.6%, whereas working capital loans increased This solidified BCA’s position as Indonesia’s largest private
by 8.3%. The strong growth was partly contributed by bank in terms of assets, with a market share of 11,9%. Over
mineral sectors along with the realization of government the past five years, BCA’s consolidated loan portfolio has
downstreaming policy. Banking sector loans excluding consistently outpaced the overall banking sector. Loans
minerals related sector was estimated to grow slower at reached Rp921.9 trillion, an increase of 13.8% year-on-
8.3% from previous year. year, driven by growth across all loan segments. Credit
quality continued to improve, with Loan at Risk (LAR) and
On the funding side, Third-Party Funds saw more moderate NPL ratios decreasing to 5.3% (Dec-23: 6.9%) and 1.8%
growth at 4.5%. The Loan-to-Deposit Ratio (LDR) increased (Dec-23: 1.9%), respectively.
by 480 points to 90.4%, reflecting tighter liquidity
conditions amid relatively high interest rates over the Total loan disbursement to various sustainable financing
past two years. Liquidity tightening in the banking system sectors grew by 12.5% to Rp228.6 trillion, contributing
lingered as banks compete with higher yielding investment 24.8% of the total loan portfolio. Green financing reached
products. This was evidenced by weaker third party fund Rp98.8 trillion, a 13.5% increase from 2023, whereas
growth owned by individuals, while investment flow by social financing expanded by 11.9% in 2024. Loans for
individual holders into government bond increased 17.7% electric vehicles reached Rp2.3 trillion, which grew 84.2%
in 2024. Household third party funds growth (as a compared to the previous year.
percentage of GDP) have been in declining trend in the last
two years. Additional liquidity in the banking system has Loan Growth for BCA and the Banking Industry Over
been more supported by larger private corporates. the Last 5 Year
13.9%
Bank Indonesia (BI) and the Financial Services Authority BCA
(OJK) prudently maintained financial system stability by 11.7% 13.8%
collaborating with banks to create a favourable business Industry
11.0% 10.4%
environment. Effective June 2024, to support bank 10.3%
8.2%
intermediation function, BI introduced reserve requirement
(GWM) incentives to enhance liquidity and support credit
4.9%
disbursement to priority economic sectors.
The national banking sector continued to transform and
develop various digital processes and services, while -2.5%
-2.6%
implementing payment efficiency and financial inclusion
2020 2021 2022 2023 2024
initiatives. Authorities put into effect prudent monetary
operation to safeguard financial system. Multiple policies Source: Bank Indonesia (SEKI)
were introduced to ensure macroprudential stability for
sustainable economic growth.
While maintaining high-quality loan growth, BCA
From an asset quality perspective, the overall Non- continued to strengthen its core business as a leading
Performing Loan (NPL) ratio stood at 2.2%. Corporate & provider of transactional banking services in Indonesia.
Commercial, SME, Micro and Consumer NPL ratios were at Consistent innovation has driven a significant increase in
tolerable level throughout 2024, at 1.7%, 4.6%, 3.3%, and online transaction volumes (mobile and internet banking),
1.9% respectively. With a Capital Adequacy Ratio (CAR) which grew by 23.5%, along with an increase in the
of 27.1%, the banking sector remains well-capitalized to total transaction value of 13.8%. On the other side, the
navigate future uncertainties and challenges. development of branches and ATM channels continue to
contribute significantly to transaction values. Over the
past three years, the number of customer has grown by
45%, surpassing 33 million customers.
256 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Reliable transactional banking services have spurred third- Amidst a trend of tightening liquidity, BCA maintained
rarty funds growth, particularly Current Accounts and strong liquidity reserves, with a Loan-to-Deposit Ratio
Savings Accounts (CASA), which rose by 4.4% year-on-year (LDR) of 78.4%, one of the lowest in the banking industry.
to Rp924.0 trillion by the end of 2024. Current Account and The LCR and NSFR were at healthy levels of 323.0% and
Savings Accounts (CASA) contributed 81.5% of total Third- 157.3%, respectively. Additionally, the Capital Adequacy
Party Funds, maintaining a low and stable cost of funds. Ratio (CAR) stood at an exceptionally strong 29.4% as of
Current Accounts and Savings Accounts portfolio grew December 31, 2024.
by 3.9% and 4.8%, respectively, reaching Rp361.9 trillion
and Rp562.1 trillion. Meanwhile, time deposits contributed In 2024, BCA and its subsidiaries recorded a net income
18.5% of total Third-Party Funds, decreased by 3.4% to of Rp54.8 trillion, marking a 12.7% increase compared to
Rp209.6 trillion, in line with BCA’s relatively low term deposit the previous year. Key profitability metrics remained solid,
interest rates in the market. Total third-party funds portfolio with a Return on Assets (ROA) of 3.9% and a Return on
increased by 2.9% to Rp1,133.6 trillion at the end of 2024. Equity (ROE) of 24.6% as of the end of 2024.
CASA Ratio of BCA and the Banking Industry
in the last 5 Years
81.6% 80.3% 81.5%
76.6% 78.6%
61.5% 63.9% 63.3% 63.6%
58.4%
2020 2021 2022 2023 2024
Industry BCA
Source: Bank Indonesia (SEKI)
FINANCIAL PERFORMANCE REVIEW OF BCA IN 2024
The following is the Management’s Analysis and Discussion of BCA’s financial performance in 2024. This report is based on the
Consolidated Financial Statements of PT Bank Central Asia Tbk and its subsidiaries for the years ending December 31, 2024,
and December 31, 2023, which have been audited by KAP Rintis, Jumadi, Rianto & Rekan, a member firm of the PwC global
network.
FINANCIAL POSITION
ASSETS
Total Assets (in billion Rupiah)
Increase / (decrease) Increase / (decrease)
2024 2023 2022
2024 2023
(%) (%) (%)
Nominal to Total Nominal to Total Nominal to Total Nominal % Nominal %
Assets Assets Assets
Cash, Current Accounts 69,821 4.8% 119,934 8.5% 130,222 9.9% (50,112) -41.8% (10,288) -7.9%
with Bank Indonesia and
Other Banks
Placements with Bank 388,316 26.8% 410,351 29.1% 434,237 33.0% (22,035) -5.4% (23,886) -5.5%
Indonesia & Other Banks
and Securities
Total Loans - gross* 921,878 63.6% 810,392 57.6% 711,262 54.1% 111,486 13.8% 99,130 13.9%
Allowance for Impairment (34,522) -2.4% (34,899) -2.5% (35,462) -2.7% 377 -1.1% 563 -1.6%
Losses (-/-)
Other Assets 103,808 7.2% 102,329 7.3% 74,473 5.7% 1,479 1.4% 27,856 37.4%
Total Assets 1,449,301 100.0% 1,408,107 100.0% 1,314,732 100.0% 41,194 2.9% 93,375 7.1%
Total Earning Assets 1,354,435 93.5% 1,266,223 89.9% 1,173,144 89.2% 88,212 7.0% 93,079 7.9%
*
Including assets related to sharia transactions, consumer financing receivables & finance lease receivables
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
In 2024, Total Assets grew by 2.9% year-on-year to CASH, CURRENT ACCOUNTS WITH BANK
Rp1,449.3 trillion. Approximately 93.5% of Total Assets INDONESIA & CURRENT ACCOUNTS WITH OTHER
comprised Earning Assets, which consist of loan portfolios, BANKS
low-risk securities (including short-term instruments from The Cash and Current Account position at Bank Indonesia
Bank Indonesia) and Government Bonds. in 2024 decreased by 42.5% to Rp65.7 trillion, primarily
due to a decline in Current Account at Bank Indonesia. The
Total Earning Assets increased by 7.0% to Rp1,354.4 trillion Current Account balance at Bank Indonesia was recorded
in 2024. The loan portfolio was recorded at Rp921.9 trillion, at Rp36.4 trillion, down by 60.7% year-on-year, in line with
the largest contributor to Total Earning Assets at 68.1%. Bank Indonesia’s policy of providing additional liquidity
Earning Assets yield in 2024 stood at 6.7%, an increase of incentives to banks that channeled credit to priority sectors
24 bps from the previous year. starting June 1, 2024. The Statutory Reserve Ratios (GWM)
for Rupiah stood at 5.04%, and for Foreign Exchange at
Other Assets increased by 1.4% to Rp103.8 trillion in 2024, 2.00%.
driven by bill and acceptance transactions, as well as an
increase in non-current assets, which include IT assets The Cash balance was recorded at Rp29.3 trillion, growing
(software and hardware), equipment, land and buildings, by 35.1% compared to the previous year’s Rp21.7 trillion.
and equity investments. This increase includes the cash balance in Automated Teller
Machines (ATMs), which amounted to Rp9.2 trillion in 2024,
compared to Rp8.5 trillion in the previous year, in line with
the expansion of branch networks, cash offices, mobile
cash units, and ATMs throughout 2024. Meanwhile, Current
Accounts with Other Banks placed with leading foreign
banks decreased by 27.0% to Rp4.1 trillion.
PLACEMENT AT BANK INDONESIA, OTHER BANKS & SECURITIES
Placements with Bank Indonesia & Other Banks and Securities (in billion Rupiah)
Increase / (decrease) Increase / (decrease)
2024 2023
2024 2023 2022
Nominal % Nominal %
Placements with Bank Indonesia & 15,715 5,202 31,377 10,513 202.1% (26,175) -83.4%
Other Banks
Securities 372,601 405,150 402,860 (32,549) -8.0% 2,290 0.6%
Investment Securities 371,152 312,054 248,895 59,098 18.9% 63,159 25.4%
SBBI, SDBI, SBI Sharia & SRBI 78,291 31,053 93 47,238 152.1% 30,960 33,290.7%
Government Bonds 243,651 234,585 209,118 9,067 3.9% 25,467 12.2%
Other Securities 49,210 46,416 39,684 2,794 6.0% 6,732 17.0%
Securities Purchased under Agreements 1,450 93,096 153,965 (91,647) -98.4% (60,869) -39.5%
to Resell
Total Placements with Bank Indonesia & 388,316 410,351 434,237 (22,035) -5.4% (23,886) -5.5%
Other Banks and Securities
Placements at Bank Indonesia and Other Banks increased by 202.1% to Rp15.7 trillion, primarily due to liquidity placements
in short-term instruments, most of which had maturities of less than three months. This was part of BCA’s prudent approach
to liquidity management, especially for short-term needs.
Placements in Securities reached Rp372.6 trillion, a decrease of 8.0% from the previous year, in line with the growth in
Loan. The Securities portfolio consisted of Investment Securities amounting to Rp371.2 trillion and Securities Purchased
with Repurchase Agreements (repo) amounting to Rp1.4 trillion. There was a shift from Securities Purchased with Repo
Agreements to Investment Securities in accordance with Bank Indonesia’s monetary operations.
In the category of Securities for Investment Purposes, Bank Indonesia securities recorded a significant growth of 152.1%,
reaching Rp78.3 trillion. Government Bonds also increased by 3.9% to Rp243.7 trillion, while Other Securities grew by
6.0% to Rp49.2 trillion, primarily driven by mutual fund units and corporate bonds. Meanwhile, Securities Purchased with
Repurchase Agreements (reverse repo) declined sharply by 98.4% compared to the previous year, as most placements
were shifted to loans and Securities for Investment Purposes.
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
LOANS
The loan portfolio reached Rp921.9 trillion, an increase of 13.8% year-on-year, outpacing the banking sector’s average
credit increase of 10.4%. BCA maintained its position as the largest private lender in Indonesia, with a market share of 11.9%,
up from 11.5% the previous year.
Loan by Segments
Loan Composition by Segment (in billion Rupiah)
Increase / (decrease) Increase / (decrease)
2024 2023
2024 2023 2022
Nominal % Nominal %
Corporate 426,793 368,885 320,729 57,908 15.7% 48,156 15.0%
Commercial 137,917 126,598 117,755 11,320 8.9% 8,842 7.5%
SME 123,751 107,796 93,025 15,955 14.8% 14,771 15.9%
Consumer 223,721 199,084 173,230 24,637 12.4% 25,854 14.9%
Mortgage 135,465 121,848 109,060 13,618 11.2% 12,788 11.7%
Vehicle 65,315 56,906 47,116 8,410 14.8% 9,790 20.8%
Personal Loan* 19,498 16,981 13,759 2,518 14.8% 3,222 23.4%
Employee 3,442 3,350 3,296 92 2.8% 54 1.6%
Sharia 10,717 9,014 7,577 1,704 18.9% 1,437 19.0%
Total Loan** 921,878 810,392 711,262 111,486 13.8% 99,130 13.9%
* Including credit card, payroll, and unsecured loans
** Including assets related to sharia transactions, consumer financing receivables, finance lease receivables & unamortized loans
Corporate loans grew by 15.7% to Rp 426.8 trillion, Consumer loans recorded a growth of 12.4% in 2024,
contributing 51.9% to the total loan growth for the year. reaching Rp223.7 trillion, driven by mortgages (KPR)
Corporate growth drivers came from diverse sectors and vehicle loans (KKB). During 2024, BCA held two
including opportunities in the minerals industry. BCA hybrid BCA Expos, which contributed to consumer loan
stays optimistic in exploring new opportunities for credit growth. BCA recorded mortgages of Rp135.5 trillion, an
growth in emerging sectors and industries based on its risk increase of 11.2% compared to the previous year, and
appetite, while remains focused on quality growth. vehicle financing of Rp65.3 trillion, up 14.8%. Personal
loans grew by 14.8% to Rp19.5 trillion, supported by the
Commercial loans increased by 8.9%, and SME loans credit card portfolio. BCA has offered Paylater products
grew by 14.8% compared to 2023. Specifically for SME since 2023, with the Paylater financing balance reaching
loans, BCA has invested in expanding its credit capacity Rp328 billion as of December 31, 2024.
since 2022, among others by adding account officers,
risk function units, and accelerating credit processing.
SME loan processing hubs were expanded to reach larger
coverage. Data analytics have been used to explore
more credit opportunities. Various SME products and
programs continue to be developed, especially for CASA
customers who do not yet have SME loans with BCA,
including multipurpose loans, BCA merchant financing, and
partnership loans.
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Loan Quality
BCA continues to manage credit risk prudently to maintain a high-quality loan portfolio. Throughout 2024, the Loan at Risk
(LAR) ratio improved to 5.3%, down from 6.9% in the previous year. LAR provisioning remained robust at 76.9%, one of the
highest in the banking industry. The improvement in the LAR ratio was largely due to the continued recovery of customers’
financial conditions in line with the domestic economic growth.
Loan at Risk (LAR) by Segment (Parent Entity Only – in billion Rupiah)
LAR (Nominal) LAR (%)* LAR
Increase / (decrease) Increase / (decrease)
2024 2023
2024 2023 2022 2024 2023 2022
Nominal % Nominal %
Corporate 18,055 20,545 27,353 4.3% 5.6% 8.6% (2,490) -12.1% (6,808) -24.9%
Commercial 8,910 11,740 16,988 6.5% 9.3% 14.4% (2,830) -24.1% (5,248) -30.9%
SME 6,525 6,454 7,483 5.3% 6.0% 8.1% 71 1.1% (1,029) -13.8%
Consumer 12,318 12,943 17,628 5.8% 6.9% 10.8% (625) -4.8% (4,685) -26.6%
Total LAR 45,808 51,682 69,452 5.3% 6.9% 10.4% (5,874) -11.4% (17,770) -25.6%
LAR Coverage** 76.9% 69.7% 53.6% 7.2% 16.1%
*
LAR nominal/respective loan portfolio
**
Including on & off balance sheet
Note: LAR comprises Current Restructured loans, Special Mention, and Non-Performing Loans
Restructured Loan by Collectibility (Parent Entity Only - in billion Rupiah)
Increase / (decrease) Increase / (decrease)
2024 2023
2024 2023 2022
Nominal % Nominal %
Performing Loan 18,758 29,879 52,753 (11,121) -37.2% (22,874) -43.4%
Current 11,897 21,392 45,966 (9,495) -44.4% (24,574) -53.5%
Special Mention 6,861 8,487 6,787 (1,626) -19.2% 1,700 25.0%
NPL 10,028 10,703 9,459 (674) -6.3% 1,244 13.2%
Substandard 387 1,727 1,386 (1,341) -77.6% 341 24.6%
Doubtful 222 443 4,313 (221) -50.0% (3,870) -89.7%
Loss 9,420 8,533 3,759 887 10.4% 4,773 127.0%
Total Restructured Loan 28,787 40,582 62,212 (11,795) -29.1% (21,630) -34.8%
Total Loan Portfolio 894,912 787,499 691,141 107,413 13.6% 96,358 13.9%
% Restructured Loans to Total Loans Portfolio 3.2% 5.2% 9.0% -1.9% -3.8%
BCA recorded a 29.1% decrease in restructured loans to Rp28.8 trillion, equivalent to 3.2% of total loans, driven by
borrowers whose loans are back to normal. The downward trend in restructured loans is expected to continue as the cash
flow and business activities of borrowers improve.
Loans by Collectibility (in billion Rupiah)
Increase / (decrease) Increase / (decrease)
2024 2023
2024 2023 2022
Nominal % Nominal %
Performing Loan 905,852 795,902 699,208 109,950 13.8% 96,694 13.8%
Current 886,261 778,154 686,682 108,107 13.9% 91,472 13.3%
Special Mention 19,591 17,748 12,526 1,843 10.4% 5,222 41.7%
NPL 16,027 14,490 12,054 1,537 10.6% 2,437 20.2%
Substandard 1,197 2,460 1,703 (1,263) -51.4% 757 44.4%
Doubtful 1,359 1,303 4,698 56 4.3% (3,395) -72.3%
Loss 13,471 10,727 5,653 2,744 25.6% 5,075 89.8%
Total Loans* 921,878 810,392 711,262 111,486 13.8% 99,130 13.9%
NPL Ratio – gross 1.8% 1.9% 1.8% -0.1% 0.1%
NPL Ratio – net 0.6% 0.6% 0.6% 0.0% 0.0%
Provision / NPL** 208.5% 234.1% 286.9% -25.6% -52.8%
*
Including assets related to sharia transactions, consumer financing receivables & finance lease receivables
**
Including on & off balance sheet
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The total non-performing loans (NPL) stood at Rp16.0 trillion, with the NPL ratio of 1.8%. The Bank’s NPL ratio was one of the
lowest in the banking industry, while NPL coverage ratio was 208.5%, one of the highest in the banking industry.
Details of Loan Write-Offs (Parent Entity Only – in billion Rupiah)
Increase / (decrease) Increase / (decrease)
2024 2023
2024 2023 2022
Nominal % Nominal %
Corporate - 110 730 (110) -100.0% (620) -85.0%
Commercial 982 901 861 82 9.1% 40 4.6%
SME 370 216 377 154 71.5% (161) -42.8%
Consumer 1,943 1,263 1,203 680 53.9% 59 4.9%
Mortgage 213 187 209 27 14.3% (23) -10.9%
4 Wheeler 1,358 789 644 570 72.2% 145 22.6%
2 Wheeler 46 18 25 28 151.6% (7) -26.9%
Credit Card 325 269 325 56 20.8% (56) -17.4%
Total Write Off 3,295 2,488 3,171 807 32.4% (683) -21.5%
Recovery from Write Off 702 1,036 1,026 (334) -32.2% 10 1.0%
BCA recorded non-performing loan write-offs amounting to Rp3.3 trillion, remained marginal at 0.4% to total loans.
Recoveries from write-offs accounted for 21.3% of the loans written off in 2024.
LIABILITIES
Liabilities (in billion Rupiah)
Increase / (decrease) Increase / (decrease)
Composition
2024 2023
2024 2023 2022
Nominal % Nominal % 2024 2023 2022
Third Party Funds* 1,133,612 1,101,673 1,039,718 31,940 2.9% 61,955 6.0% 95.5% 94.5% 95.1%
Current Accounts 361,884 348,457 323,924 13,426 3.9% 24,533 7.6% 30.5% 29.9% 29.6%
Savings Accounts 562,094 536,184 524,014 25,910 4.8% 12,170 2.3% 47.4% 46.0% 47.9%
Time Deposits 209,635 217,032 191,780 (7,397) -3.4% 25,251 13.2% 17.7% 18.6% 17.5%
Deposits from Other 3,656 10,071 7,936 (6,415) -63.7% 2,135 26.9% 0.3% 0.9% 0.7%
Banks
Acceptance Payables 4,652 6,701 9,667 (2,049) -30.6% (2,965) -30.7% 0.4% 0.6% 0.9%
Borrowings 2,243 1,630 1,317 613 37.6% 313 23.7% 0.2% 0.1% 0.1%
Accruals and other 27,515 29,496 20,430 (1,980) -6.7% 9,066 44.4% 2.3% 2.5% 1.9%
liabilities
Post-employment 9,098 9,032 7,521 66 0.7% 1,511 20.1% 0.8% 0.8% 0.7%
benefits obligation
Subordinated bonds 500 500 500 - 0.0% - 0.0% 0.0% 0.0% 0.0%
Other Liabilities 5,190 6,467 6,461 (1,277) -19.7% 6 0.1% 0.4% 0.6% 0.6%
Total Liabilities 1,186,466 1,165,569 1,093,550 20,897 1.8% 72,019 6.6% 100.0% 100.0% 100.0%
*
Including sharia deposits
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
THIRD-PARTY FUNDS
Composition of Third Party Funds* (in billion Rupiah)
Increase / (decrease) Increase / (decrease)
2024 2023 2022
2024 2023
Nominal Composition Nominal Composition Nominal Composition Nominal % Nominal %
Current Accounts 361,884 31.9% 348,457 31.6% 323,924 31.2% 13,426 3.9% 24,533 7.6%
Rupiah 320,896 28.3% 312,110 28.3% 285,342 27.4% 8,786 2.8% 26,768 9.4%
Foreign Currency 40,987 3.6% 36,347 3.3% 38,582 3.7% 4,640 12.8% (2,235) -5.8%
Saving Accounts 562,094 49.6% 536,184 48.7% 524,014 50.4% 25,910 4.8% 12,170 2.3%
Rupiah 542,821 47.9% 518,068 47.0% 504,360 48.5% 24,753 4.8% 13,708 2.7%
Foreign Currency 19,273 1.7% 18,116 1.6% 19,654 1.9% 1,157 6.4% (1,538) -7.8%
Total Transactional 923,977 81.5% 884,641 80.3% 847,938 81.6% 39,336 4.4% 36,703 4.3%
Account Balance
(CASA)
Time Deposits 209,635 18.5% 217,032 19.7% 191,780 18.4% (7,397) -3.4% 25,251 13.2%
Rupiah 195,030 17.2% 203,011 18.4% 173,103 16.6% (7,981) -3.9% 29,908 17.3%
Foreign Currency 14,605 1.3% 14,020 1.3% 18,677 1.8% 585 4.2% (4,657) -24.9%
Total Third Party Funds 1,133,612 100.0% 1,101,673 100.0% 1,039,718 100.0% 31,940 2.9% 61,955 6.0%
Rupiah 1,058,747 93.4% 1,033,189 93.8% 962,805 92.6% 25,558 2.5% 70,384 7.3%
Foreign Currency 74,865 6.6% 68,483 6.2% 76,913 7.4% 6,382 9.3% (8,429) -11.0%
*
Including sharia deposits
Third-Party Funds grew by 2.9%, reaching Rp1,133.6 trillion, driven by a 4.4% increase in low-cost CASA funds during 2024.
Current Accounts and Savings Accounts (CASA) chain, including suppliers, principals, distributors, retailers,
Current accounts increased by 3.9% to Rp361.9 trillion, and end customers, along with digital investments to
while savings accounts grew by 4.8% to Rp562.1 trillion in strengthen the transactional banking platform.
2024.
The volume of transactions through digital channels
Average CA rose 6.6% YoY, higher than the outstanding (mobile banking, internet banking, and ATMs) continued to
growth of 3.9% YoY driven by small to medium business grow, accounting for 99.8% of total transactions, with the
customers. remaining 0.2% conducted at branches. In terms of value,
transactions through mobile banking and internet banking
Average SA rose 4.9% YoY, driven by mass segment (43.8% contributed 62.7%, while transactions at branches and
YoY). SA balance in HNWI and Affluent segments declined, ATMs accounted for 37.3%.
shifting to higher yielding investment instruments.
The number of BCA customers reached 33 million,
Total relationship balance of customers (consisting of supported by investments in IT, operations, and various
third-party funds + bonds + mutual fund holdings) rose 8% transaction channels, including BCA Mobile and myBCA.
YoY, outgrew M2 growth of 7% YoY. The development of products, features, and various
initiatives to strengthen transactional banking are detailed
This achievement was supported by various efforts to in the Transactional Banking section on page 120 of this
expand the ecosystem, covering the end-to-end supply Annual Report.
Time Deposits
Time Deposits* (based on maturity date, in billion Rupiah)
2024 2023 2022
Nominal Composition Nominal Composition Nominal Composition
1 Month 140,577 67.1% 135,403 62.4% 147,100 76.7%
3 Months 61,302 29.2% 71,512 33.0% 28,082 14.6%
6 Months 4,630 2.2% 6,080 2.8% 9,015 4.7%
12 Months 3,125 1.5% 4,036 1.9% 7,584 4.0%
Total 209,635 100.0% 217,032 100.0% 191,780 100.0%
*
Including sharia deposits
Time deposits decreased by 3.4% to Rp209.6 trillion compared to the previous year, in line with the declining trend in
deposit interest rates. Deposit interest rates fell by 50 bps throughout the year, reaching 3.25% at the end of 2024.
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EQUITY
Equity (in billion Rupiah)
Increase / (decrease) Increase / (decrease)
Composition
2024 2023
2024 2023 2022
Nominal % Nominal % 2024 2023 2022
Issued and fully paid-up 1,541 1,541 1,541 - 0.0% - 0.0% 0.6% 0.6% 0.7%
capital
Additional paid-in 5,549 5,549 5,549 - 0.0% - 0.0% 2.1% 2.3% 2.5%
capital
Revaluation surplus of 11,139 10,936 10,713 202 1.9% 223 2.1% 4.2% 4.5% 4.8%
fixed assets
Retained earnings 243,679 222,957 200,959 20,722 9.3% 21,998 10.9% 92.7% 91.9% 90.9%
Appropriated 3,721 3,234 2,827 486 15.0% 407 14.4% 1.4% 1.3% 1.3%
Unappropriated 239,959 219,723 198,132 20,236 9.2% 21,591 10.9% 91.3% 90.6% 89.6%
Other equity 732 1,373 2,257 (640) -46.6% (883) -39.1% 0.3% 0.6% 1.0%
components
Non-controlling interest 194 181 163 13 7.2% 18 11.2% 0.1% 0.1% 0.1%
Total Equity 262,835 242,538 221,182 20,297 8.4% 21,356 9.7% 100.0% 100.0% 100.0%
Equity increased by 8.4% to Rp262.8 trillion, supported by a rise in Retained Earnings for the Year to Rp243.7 trillion. ROE
increased by 110 bps compared to the previous year, reaching 24.6%.
INCOME STATEMENT
Income Statement (in billion Rupiah)
Increase / (decrease) Increase / (decrease)
2024 2023
2024 2023 2022
Nominal % Nominal %
Operating Income 108,307 98,517 85,419 9,790 9.9% 13,098 15.3%
Net Interest and Sharia Income 82,264 74,938 63,863 7,327 9.8% 11,075 17.3%
Interest and Sharia Income 94,796 87,207 72,114 7,590 8.7% 15,092 20.9%
Interest and Sharia Expense (12,532) (12,269) (8,252) (263) 2.1% (4,017) 48.7%
Other Operating Income 26,042 23,579 21,557 2,463 10.4% 2,023 9.4%
Operating Expenses (38,054) (37,281) (31,638) (774) 2.1% (5,643) 17.8%
Pre-Provision Operating Profit (PPOP) 70,252 61,236 53,781 9,016 14.7% 7,455 13.9%
Impairment losses on assets* (2,034) (1,056) (3,314) (978) 92.6% 2,258 -68.1%
Income Before Tax 68,218 60,180 50,467 8,038 13.4% 9,713 19.2%
Net Income 54,851 48,658 40,756 6,193 12.7% 7,903 19.4%
Other Comprehensive Income/(Expenses) (345) (1,106) (3,323) 761 -68.8% 2,217 -66.7%
Total Comprehensive Income 54,506 47,552 37,433 6,954 14.6% 10,119 27.0%
Net Income attributable to:
Equity holders of parent entity 54,836 48,639 40,736 6,197 12.7% 7,903 19.4%
Non-controlling interest 15 19 20 (4) -21.1% (1) -4.4%
Comprehensive Income attributable to:
Equity holders of parent entity 54,493 47,534 37,413 6,960 14.6% 10,120 27.0%
Non-controlling interest 13 18 19 (5) -28.2% (1) -5.6%
* Including Foreclosed Collateral (AYDA)
Net income reached Rp54.8 trillion, an increase of 12.7% year-on-year, driven by strong operating income (+9.9% YoY) and
manageable Operational Expense along with low Cost of Credit.
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Net Interest and Sharia Income (in billion Rupiah)
Increase / (decrease) Increase / (decrease)
2024 2023
2024 2023 2022
Nominal % Nominal %
Interest and Sharia Income 94,796 87,207 72,114 7,590 8.7% 15,092 20.9%
Loans Receivables 63,093 54,144 46,157 8,949 16.5% 7,986 17.3%
Securities 24,802 26,288 20,057 (1,486) -5.7% 6,230 31.1%
Consumer Financing Receivables 3,595 3,267 2,848 328 10.0% 419 14.7%
and Finance Leases Receivables
Placements with Bank Indonesia 712 1,164 1,338 (452) -38.9% (174) -13.0%
and Other Banks
Others (Including Sharia Profit Sharing) 2,595 2,344 1,714 251 10.7% 631 36.8%
Interest and Sharia Expenses (-/-) 12,532 12,269 8,252 263 2.1% 4,017 48.7%
Current Accounts 2,753 2,383 2,070 313 15.1% 314 15.2%
Savings Accounts 463 561 254 (98) 120.9% 307 121.2%
Time Deposits 6,288 6,566 3,526 (278) -4.2% 3,040 86.2%
Others (Including Sharia Expenses) 3,028 2,758 2,402 270 9.8% 356 14.8%
Net Interest and Sharia Income 82,264 74,938 63,863 7,327 9.8% 11,075 17.3%
Net Interest and Sharia Income increased by 9.8% to Rp82.3 provided relatively higher yields compared to other short-
trillion, primarily driven by a 8.7% increase in interest and term instruments. Overall earning asset yield reached 6.7%,
sharia income. Interest and sharia expenses rose by 2.1%, rose by 24 bps compared to the previous year.
lower than the previous year’s growth, reflecting BCA’s
stable cost of funds despite tight banking system liquidity. Total interest expenses increased by 2.1%, driven by the
The rise in interest income was supported by solid loan growth in third-party funds volume. The cost of funds
volume growth, resulting in a more optimized earning asset for current accounts and savings accounts (Rupiah) was
composition (asset mix yield). Loans accounted for 68.1% relatively stable at 0.79% and 0.06%, respectively. Interest
of total productive assets, compared to 64.0% in the expenses on time deposits decreased by 4.2%, in line with
previous year. a reduction in deposit rates, which fell by 50 bps over the
past year. Other interest expenses increased by 9.8% year-
Loan yield (Rupiah) recorded at 7.6% or increased by 3 bps on-year, primarily from securities sold under repurchase
compared to last year. The increase in loan yields during agreements (repos) as an alternative funding source for
2024 was mainly due to higher benchmark rates (JIBOR for loans. Overall, BCA successfully maintained cost of funds
Rupiah and SOFR for foreign currencies) for floating-rate at 1.0%, relatively stable compared to the previous year.
loans. Interest income from loans receivables rose 16.5% The Net Interest Margin (NIM) was recorded at 5.8%, an
from the previous year, reaching Rp63.1 trillion. increase of 29 bps compared to 2023. This improvement
was supported by loan growth throughout 2024, optimized
Interest income from securities declined by 5.7%, as BCA composition of earning assets, and relatively stable cost of
optimized its asset mix toward loan. However, liquidity funds.
placements in Bank Indonesia’s Rupiah Securities (SRBI)
Other Operating Income (in billion Rupiah)
Increase / (decrease) Increase / (decrease)
2024 2023
2024 2023 2022
Nominal % Nominal %
Fees and Commission - net 17,980 16,622 16,584 1,357 8.2% 39 0.2%
Credit 2,428 2,820 2,084 (391) -13.9% 736 35.3%
Trade 1,113 1,044 1,203 68 6.5% (159) -13.2%
CASA and Transactional 12,888 11,436 11,848 1,451 12.7% (411) -3.5%
Wealth 863 741 806 122 16.4% (65) -8.1%
Others 688 581 642 107 18.4% (62) -9.6%
Net Income from Transaction at fair 2,855 1,888 1,287 967 51.2% 600 46.6%
value through profit or loss
Others 5,208 5,069 3,685 139 2.7% 1,384 37.5%
Total Other Operating Income 26,042 23,579 21,557 2,463 10.4% 2,023 9.4%
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Total other operating income increased by 10.4% to Net fees and commissions income grew by 8.2% to
Rp26.0 trillion, driven by growth in net transaction income Rp18.0 trillion, with the main contributors being fee income
measured at fair value, net fees and commissions income, from CASA products, transactional fees, wealth, trade, and
and other income. others. Credit-related fees decreased by 13.9% to Rp2.4
trillion, mainly due to lower fees and commissions from
Net transaction income measured at fair value (through syndicated loans. Overall, CASA and Transactional Fees
profit or loss – net) rose by 51.2%, primarily due to realized contributed 71.7% to total fees and commissions income.
gains from trading SRBI in the trading book.
Operating Expenses
Operating Expenses (in billion Rupiah)
Increase / (decrease) Increase / (decrease)
2024 2023
2024 2023 2022
Nominal % Nominal %
General and Administrative Expenses 16,874 17,306 14,694 (431) -2.5% 2,612 17.8%
Personnel Expenses 17,444 16,198 13,651 1,246 7.7% 2,546 18.7%
Others 3,736 3,777 3,293 (41) -1.1% 485 14.7%
Total 38,054 37,281 31,638 774 2.1% 5,643 17.8%
BCA implements cost efficiency, managing current Impairment Loss on Asset Value
and future needs towards supporting the growth of the Impairment loss on asset value increased by 92.6% from
business and competitiveness. the previous year to Rp2.0 trillion. This was done to maintain
adequate provisioning levels in response to economic
General and administrative expenses decreased by uncertainties and the future business conditions of debtors.
2.5%. Within general and administrative expenses, IT and The Cost of Credit, or the ratio of provisioning expenses to
cybersecurity-related costs rose by 12.8% in line with the the average loan portfolio, was recorded at 0.28% in 2024,
trend of digitalization. Meanwhile, employee expenses improving by 3 bps compared to the previous year.
increased 7.7% and other expenses decreased 1.1% in
2024. Overall, operating expenses increased by 2.1% year- Profit Before Income Tax and Net Income
on-year. Profit before income tax was recorded at Rp68.2 trillion, an
increase of 13.4% compared to the previous year. This was
To support the growth in transaction volume, BCA invested driven by growth in operating income, cost management,
in a new data center, which began operations at the end and maintaining asset quality.
of 2024. This is BCA’s fourth data center, with a larger
capacity than that of the existing three combined. Overall, BCA’s net income attributable to the parent entity
was recorded at Rp54.8 trillion, rising by 12.7% compared
Overall, the Cost to Income Ratio improved by 266 bps to the previous year. This increase boosted Earnings Per
from the previous year to 31.5%, one of the lowest in the Share (EPS) to Rp445 per share, up from Rp395 per share
industry. BCA continues to pursue various digitalization in 2023.
and process automation initiatives to enhance customer
services and operational efficiency.
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Comprehensive Income (in billion Rupiah)
Increase / (decrease) Increase / (decrease)
2024 2023
2024 2023 2022
Nominal % Nominal %
Net Income 54,851 48,658 40,756 6,193 12.7% 7,903 19.4%
Other Comprehensive Income:
Items that will not be reclassified to profit or
loss
Remeasurements of defined benefit liability 72 (559) (350) 631 -112.8% (210) 60.0%
Income tax (14) 106 66 (120) -112.7% 40 60.7%
Revaluation surplus of fixed assets 239 232 1,226 7 3.0% (994) -81.1%
Items that will be reclassified to profit or loss
Unrealized losses on financial assets at fair (824) (1,084) (5,330) 259 -23.9% 4,246 -79.7%
value through other comprehensive income
Income tax 147 206 1,012 (60) -28.9% (806) -79.6%
Foreign exchange differences arising 35 (8) 53 43 -548.6% (61) -114.9%
from translation of financial
statements in foreign currency
Total Other Comprehensive Income (345) (1,106) (3,323) 761 -68.8% 2,217 -66.7%
Total Comprehensive Income 54,506 47,552 37,433 6,954 14.6% 10,119 27.0%
Net Income attributable to:
Equity holders of parent entity 54,836 48,639 40,736 6,197 12.7% 7,903 19.4%
Non-controlling interest 15 19 20 (4) -21.1% (1) -4.4%
Comprehensive Income attributable to:
Equity holders of parent entity 54,493 47,534 37,413 6,960 14.6% 10,120 27.0%
Non-controlling interest 13 18 19 (5) -28.2% (1) -5.6%
Earning per Share attributable to Equity 445 395 330 50 12.7% 64 19.4%
Holders of The Parent Entity
(in full amount of Rupiah)
Total comprehensive income attributable to the owners of the parent entity increased by 14.6%, primarily driven by the rise
in net income in 2024 compared to the previous year.
BCA recorded ‘unrealized loss on financial assets measured at fair value through other comprehensive income’ of Rp824
billion, lower than the previous year’s loss of Rp1,084 billion. This improvement was due to the ‘available-for-sale financial
assets’ portfolio, which had a higher market value compared to last year’s valuation.
Profitability by Operating Segment
Total net income attributable to the owners of the parent entity and non-controlling interests in 2024 was recorded at
Rp54.9 trillion, growing by 12.7% year-on-year. Based on operational review by segment, the majority of income and net
profit for the year was contributed by the Java and Sumatra regions. Further information on performance by operating
segment can be found in Note 41, of the Financial Statements, page 655.
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CASH FLOWS
Cash Flow (in billion Rupiah)
Increase / (decrease) Increase / (decrease)
2024 2023
2024 2023 2022
Nominal % Nominal %
Cash Flows from Operating Activities 53,820 58,064 33,779 (4,244) -7.3% 24,285 71.9%
Cash Flows from Investing Activities (58,948) (69,745) (32,383) 10,797 -15.5% (37,362) 115.4%
Cash Flows from Financing Activities (33,329) (25,071) (19,116) (8,258) 32.9% (5,955) 31.2%
Net (Decrease) Increase in Cash and Cash (38,456) (36,752) (17,720) (1,704) 4.6% (19,032) 107.4%
Equivalents
Cash and Cash Equivalents, Beginning of Year 124,396 160,422 177,268 (36,026) -22.5% (16,846) -9.5%
Effect of Foreign Exchange Rate Fluctuations (456) 726 874 (1,182) -162.9% (148) -16.9%
on Cash and Cash Equivalents
Cash and Cash Equivalents, End of Year 85,483 124,396 160,422 (38,913) -31.3% (36,026) -22.5%
BCA recorded cash and cash equivalents of Rp85.5 trillion, a decrease compared to the previous year’s Rp124.4 trillion.
Cash Flows from Operating Activities
Cash flows from operating activities decreased 7.3% compared to the previous year, mainly came from decrease in
customer deposit fund activity and deposits from other banks.
Cash Flows from Investing Activities
Cash flows from investing activities recorded an outflow of Rp58.9 trillion, decreased 15.5% compared to the previous
year. This decrease was due to reduced receipts for securities maturing during the current year.
Cash Flows from Financing Activities
Cash outflows for financing activities were recorded at Rp33.3 trillion, an increase of 32.9% compared to the previous
year. This was driven by higher payments of borrowings amounting to Rp72.7 trillion and dividend payments totaling Rp34.2
trillion during 2024.
KEY FINANCIAL RATIOS (Parent Entity Only)
Throughout 2024, BCA successfully maintained the key financial ratios listed below.
2024 2023 2022 2021 2020
NIM 5.8% 5.5% 5.3% 5.1% 5.7%
CIR* 31.5% 34.1% 35.1% 34.9% 37.4%
BOPO 41.7% 43.7% 46.1% 54.2% 63.5%
ROA** 3.9% 3.6% 3.2% 2.8% 2.7%
ROE 24.6% 23.5% 21.7% 18.3% 16.5%
CAR 29.4% 29.4% 25.8% 25.7% 25.8%
LDR 78.4% 70.2% 65.2% 62.0% 65.8%
NPL- Gross 1.8% 1.9% 1.8% 2.2% 1.8%
LAR 5.3% 6.9% 10.4% 15.2% 19.7%
* Presented with the calculation of profit and loss from trade and foreign exchange transactions on a net basis as operating income, in accordance with accounting
standard.
** Calculated from profit (loss) after tax divided by average of total assets
2024 Annual Report PT Bank Central Asia Tbk 267
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Performance Review of The Subsidiaries
BCA subsidiaries provide a variety of financial solutions PT Bank BCA Syariah
in various fields, including motor vehicle financing, sharia BCA Syariah is a subsidiary of BCA, which operates in the
banking, digital banking, securities, general and life sharia banking sector. In 2024, BCA Syariah had 76 branch
insurance, remittances, and venture capital companies. networks consisting of 14 branch offices, 19 sub-branch
offices, 43 Sharia Service Unit sub-branch offices, and 100
PT BCA Finance Commercial Bank Sharia Services networks spread across
BCA Finance is a subsidiary of BCA, which focuses on strategic cities in Indonesia.
motor vehicles financing. BCA Finance is one of the largest
in the financing industry, with a strong brand image. By As of 2024, BCA Syariah’s total assets grew 15.0% to
means of the merger activity with BCA Multi Finance, Rp16.6 trillion, supported by an increase in third-party
which is effective as of September 1, 2024, BCA Finance funds of 20.3% to Rp13.2 trillion. Meanwhile, total financing
has a new business line identified as motorbike financing, grew by 18.9% to Rp10.7 trillion. Specifically, Gold iB
hence enriching BCA Finance’s financing services. As of Financing at BCA Syariah recorded significant growth of
December 2024, BCA Finance had 138 branch offices 198.6% to Rp153.8 billion, having been accessible through
and 59 other branches serving more than 360 thousand the BSya application since October 2024. BCA Syariah
customers. has also succeeded in maintaining financing quality, with a
non-performing financing (gross) ratio of 1.5%, lower than
BCA Finance disburses financing through a joint financing industry average. BCA Syariah posted net profit at Rp 183.7
scheme with the parent entity. BCA Finance and BCA also billion, an increase of 19.5% from previous year.
carry out joint marketing by utilizing BCA branch office
network for marketing activities, as well as holding a In 2024, BCA Syariah was awarded 56 awards for financial
Hybrid Exhibition (onsite and virtual vehicle exhibitions for performance, corporate governance, product quality, and
BCA customers). service quality, including Indonesia Best Sharia Bank 2024
with Sharia Financial from Warta Ekonomi in the Warta
In 2024, BCA Finance booked new financing amounting to Ekonomi Indonesia Sharia and Halal Top Brand Awards 2024
Rp47.8 trillion, growing by 17.7% compared to the previous and Platinum Champion Sharia Bank (Excellent financial
year. Total assets under management (AUM) in 2024 performance in 10 consecutive years 2014-2023) from
reached Rp65.8 trillion, 20.6% higher compared to 2023. Infobank at the 13th Infobank Sharia Award 2024.
The strategies implemented in 2024 include expanding PT Bank Digital BCA
the target market segment, offering competitive products BCA Digital focuses on providing digital banking solutions.
in accordance with customers’ needs, and continued During 2024, BCA Digital continued to develop features in
technological development to improve work effectiveness its “blu” application as well as its partner applications to
and customer experience. BCA Finance also continued enhance savings and transaction services. As of the end of
to collaborate intensively with car dealers and other 2024, BCA Digital recorded total assets of Rp16.1 trillion.
supporting partners. Non-Performing Financing (NPF) was
maintained at at 2.9% and net NPF at 0.9%. With more than 2.3 million customers, BCA Digital has
aggregated third party funds of Rp11.7 trillion through
In 2024, BCA Finance received numerous prestigious saving accounts and time deposit products. In addition,
awards, including The Excellent Performance Multifinance net profit recorded at Rp108.0 billion, growing 134.5%
Company (Asset IDR 5T - < IDR 10T) and The Best compared to 2023. BCA Digital has also collaborated with
Performance Multifinance Company In 20 Consecutive BCA to provide added value for customers, among others
Years (2004-2023) from magazine Infobank at Non-Bank by providing transaction access to BCA ATMs, and the
Financial Institution Award 2024. Haloblu contact center.
268 PT Bank Central Asia Tbk 2024 Annual Report
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PT Asuransi Umum BCA with a variety of features and latest in UI/UX. In addition,
BCA Insurance is a subsidiary of BCA that engages in BCA Sekuritas offers mediation services to customers
providing non-life/general insurance products such as that require financing through various capital market
vehicle insurance, property insurance, transport insurance, instruments.
travel insurance, personal accident insurance, and other
forms of general insurance. At the end of December 2024, BCA Sekuritas reported an
Adjusted Net Working Capital (MKBD) of Rp948.6 billion
BCA Insurance collaborates with its parent entity and other and total assets of Rp1.4 trillion. In 2024, BCA Sekuritas was
subsidiaries to meet the need for general insurance both ranked in the top seven for domestic bonds underwriting
for consumer loans and corporate loan customers within by Bloomberg, and received the “Indonesia 20 Popular
BCA Group. Digital Product Award 2024” in the eTrading category from
The Iconomics, and “The Most Innovative Securities for
In 2024, BCA Insurance’s total assets increased 12.5% to Digital Platform Optimization to Improve Transaction Ease
Rp3.4 trillion, while premium income increased 24.7% to and Financial Literacy” from Warta Ekonomi.
Rp1.7 trillion compared to previous year. In addition, net
profit recorded at Rp227.1 billion, growing 27.2% compared PT Central Capital Ventura
to 2023 and solvency ratio was recorded at 440.6%. CCV was established in 2017 and operates in the field of
venture capital. CCV engages in investment activities,
PT Asuransi Jiwa BCA primarily focused on financial technology (fintech) oriented
BCA Life, a subsidiary which is owned 90% by BCA, provides start-ups that may support BCA’s overall ecosystem.
life protection products including life insurance, accident
insurance, health insurance, and employee benefits. BCA Finance Limited
BCA Finance Limited (BCAFL) is a subsidiary of BCA that is
In 2024, BCA Life recorded total assets of Rp3.3 trillion, located in Hong Kong. BCAFL currently is licensed money
experiencing 16.0% growth from the previous year. The lender.
technical reserves or liabilities to policyholders were
recorded at Rp2.4 trillion, growing by 20.5% from 2023.
Premium income reached Rp1.5 trillion with negative
growth of 6.8%, however profit after tax was recorded at
Rp92.5 billion, growing 17.2% compared to the previous
year. The solvency ratio reached 433.1%.
PT BCA Sekuritas
BCA Sekuritas is engaged in securities trading and
underwriting for stocks, bonds and other capital market
instruments.
BCA Sekuritas offers a range of brokerage services to
individual, corporate, and institutional customers via
online trading platform that is accessible through mobile
applications (Android/iOS), computer applications
(installers), websites, and professional sales agent. To meet
investor needs, mobile applications are being developed
2024 Annual Report PT Bank Central Asia Tbk 269
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Other Material Information
2024 TARGET ACHIEVEMENTS
A summary of the financial performance achievements in 2024 compared to the targets is as follows:
Achievements vs. Target
Target 2024 Achievement 2024
Loan Growth 9% - 10% 13.8%
CASA Growth 6% - 8% 4.4%
Net Interest Margin (NIM) 5.5% - 5.6% 5.8%
Cost to Income Ratio (CIR) 34% - 35% 31.5%
Return on Assets (ROA) 3.4% - 3.6% 3.9%
Return on Equity (ROE) 21% - 23% 24.6%
MARKETING ASPECTS Fitch Ratings
BCA adopts a hybrid marketing approach by combining Description Rating
the use of digital platforms (online) with direct human Outlook Stable
interaction (offline). Through this hybrid method, BCA
Long-Term IDR BBB
optimizes the use of digital media and social media to
market products and services, increase brand awareness, Short-Term IDR F3
and educate customers on cybersecurity. The corporate National Long-Term AAA (idn)
website, bca.co.id, is continuously enhanced to provide National Short-Term F1+ (idn)
information about products, services, and corporate
Viability bbb
activities.
Government Support bbb-
BCA also organizes events such as the BCA Expo for the
retail market, the Wealth Management Summit for various Pefindo
wealth and investment products, and the UMKM Fest for Description Rating
the SME segment. Corporate Rating idAAA / Stable
Shelf Registration Sub Bond I idAA / Stable
DEBT REPAYMENT CAPABILITY AND
RECEIVABLES COLLECTIBILITY
BCA has adequate capability to fulfill all its obligations,
both short-term and long-term. MONITORING AND MANAGEMENT OF
NON-PERFORMING LOANS
Liquidity remains at a solid level, with the NSFR, LCR, and To minimize potential losses, the Bank implements
LDR ratios at 157.3%, 323.0%, and 78.4%, respectively, in pre-emptive measures for credit recovery as soon as
2024. The Macroprudential Intermediation Ratio (RIM) was indications of non-performing loans (NPLs) emerge. Taking
recorded at 81.5%. BCA’s strong profitability is reflected into account customers payment capacity and business
in the growth of Pre-Provision Operating Profit, which condition, two methods are employed to address NPLs:
increased by 14.7% compared to the previous year. 1. Credit Restructuring
The scope of credit restructuring includes reducing
BCA consistently applies prudence in all operational loan interest rates, extending loan repayment periods,
aspects to align with the risk profile established by reducing interest arrears, reducing principal arrears,
management. As a result, asset quality is maintained with providing additional loan facilities, and reducing
adequate financial asset reserves. In 2024, BCA received penalties.
favorable assessments from external rating agencies, 2. Credit recovery
including Fitch Ratings and Pefindo, as follows: Credit recovery can be carried out through cash
payments or auctioning collateral or assets of debtors
and/or guarantors.
270 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
BCA has policies for managing NPLs, including a debt Basis of Management Policies on Capital
collection policy outlined in the following regulations: Structure
• Bank Credit Basic Policy (KDPB) The Board of Directors prepares a capital plan in line with
• Credit Recovery and Write-off Policy Manual the Bank’s Business Plan, which is approved by the Board
• Other relevant internal regulations detailing the of Commissioners with reference to OJK Regulation No.
technical implementation and reporting of debtors 11/POJK.03/2016 dated 2 February 2016, OJK Regulation
categorized under criticized exposure (CE). No. 34/POJK.03/2016 dated 26 September 2016; and OJK
Regulation No. 27/2022 dated 26 December 2022.
BCA groups CE debtors based on credit quality into
collectibility categories of 2, 3, 4, and 5. CE debtors include
Corporate, Commercial, SME and Consumer (including DIVIDEND PAYOUT IMPLEMENTATION
Credit Card). Management of NPLs, especially consumer Dividend payments are determined through the Annual
loans is conducted using the e-Collection (e-Coll) General Meeting of Shareholders (AGMS). BCA periodically
application with the following collection features: reviews dividend payments to maintain a strong capital
• Preventive Collection: notification via SMS to remind position to support business growth and investments, while
debtors of their first payment. considering feedback from shareholders.
• Desk Collection: credit card collection via phone calls
and warning letters. Based on the AGMS dated March 14, 2024, shareholders
• Field Collection: on-site collection visits to homes or approved the allocation of a portion of the 2023 net profit
offices. for cash dividends amounting to Rp33.3 trillion or Rp270
• Recovery: efforts to recover NPLs that have been or will per share (comprising an interim dividend of Rp42.5 per
be written off or executed. share paid on 20 December 2023, and a final dividend of
Rp227.5 per share paid on 4 April 2024). This distribution
CAPITAL STRUCTURE AND represents a dividend payout ratio of 68.4% of the 2023
MANAGEMENT POLICY net profit.
Capital Structure The following chart illustrates BCA’s dividend payout ratio
BCA’s capital structure is as follows: trend in recent years.
• Core capital (Tier 1) representing 96.3% of total capital
or Rp255.3 trillion, an increase of 9.2% compared to the Dividend Payout Ratio
previous year.
• Whereas 3.7% or Rp9.9 trillion of BCA’s total 68.4%
62.0%
capital comprises supplementary capital (Tier 2). 56.9%
Supplementary capital mainly consists of Provision for 47.9% 48.2%
Asset Quality (PPKA).
The consolidated Capital Adequacy Ratio (CAR) remains
strong at 29.1%.
Capital Structure Management Policy
BCA maintains adequate capital levels as measured using
2019 2020 2021 2022 2023
CAR as an indicator, which covers credit, market, and
operational risks. BCA fulfills the additional capital buffer
requirements set forth by Bank Indonesia (BI) and the MATERIAL COMMITMENTS FOR CAPITAL
Financial Services Authority (OJK), including a Conservation GOODS INVESTMENTS
Buffer, Countercyclical Buffer, and Capital Surcharge for
Domestic Systemically Important Banks (D-SIB). In 2024, Purpose of Material Commitments for Capital
BCA’s CAR exceeded regulatory requirements. Goods Investments
Material commitments related to capital goods investments
BCA always ensures that there is adequate nominal capital are primarily aimed at developing information technology
to comply with the Legal Lending Limit (LLL) for a single infrastructure and networks, as well as supporting other
corporate customer group. operational activities.
The Bank conducts integrated stress tests, taking into Source of Funds for Capital Goods Investments
consideration various crisis scenarios and their impact on BCA conducts investments, which are primarily related to
NPLs, liquidity levels, and capital adequacy. Based on the information technology and network development, with
stress test results, BCA has adequate liquidity and capital to funding sourced from accumulated operating profits.
anticipate potential losses under the prepared scenarios.
2024 Annual Report PT Bank Central Asia Tbk 271
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Currency and Foreign Exchange Risk Mitigation UTILIZATION OF PROCEEDS FROM
Related to Capital Goods Investments PUBLIC OFFERINGS
BCA conducts capital goods investments both In 2024, BCA did not conduct any public offerings in the
domestically and internationally. Billing and payments form of new share issuances.
for such investments are mostly conducted in Rupiah to
minimize foreign exchange risk. MATERIAL INFORMATION ON
INVESTMENTS, EXPANSIONS,
REALIZED CAPITAL GOODS DIVESTMENTS, AND ACQUISITIONS
INVESTMENTS During 2024, BCA did not engage in any material
During 2024, realized capital goods investments reached transactions or activities related to investments,
Rp4.3 trillion, the majority of which comprised office expansions, divestments, or acquisitions.
equipment and bulidings. Most of these investments were
related to information technology development. With For additional information, two of BCA’s subsidiaries,
the acceleration of the digital era, BCA is committed to namely PT BCA Finance and PT BCA Multi Finance,
continue investment in technology-based development conducted merger where PT BCA Finance became the
including IT security, to enhance transactional banking surviving entity. BCA effectively fully owned directly and
service capabilities. indirectly the two subsidiaries before the merger.
Aside from capital goods investment, BCA also strive to MATERIAL TRANSACTIONS INVOLVING
develop its human resource capabilities. CONFLICTS OF INTEREST
In 2024, BCA did not conduct any material transactions
MATERIAL INFORMATION AND categorized as involving conflicts of interest.
FACTS OCCURRING AFTER THE
ACCOUNTANT’S REPORT DATE DISCLOSURE OF RELATED PARTY
There were no significant events, information, or material TRANSACTIONS
facts occurring after the accountant’s report date. BCA conducts various transactions with related parties.
These transactions are carried out in adherence to the
MANAGEMENT AND/OR EMPLOYEE arm’s length principles and in compliance with regulations
STOCK OWNERSHIP PROGRAM related to conflicts of interest.
THROUGH MSOP/ESOP OPTIONS
During 2024, BCA did not have any stock option programs Details of related party transactions (amount, type of
for the Board of Directors, Board of Commissioners, or transaction, and nature of the relationship with related
employees. parties) can be found in the “Corporate Governance”
section under “Affiliated Transactions and Conflicts of
Interest” (page 457) and in the audited Consolidated
Financial Statements under Note 46, Appendix 5/137 (page
682).
PROVISION OF FUNDS, COMMITMENTS, OR OTHER FACILITIES BY COMPANIES OR
LEGAL ENTITIES WITHIN THE SAME BUSINESS GROUP AS THE BANK TO DEBTORS
WHO HAVE RECEIVED FUNDING FROM THE BANK
The joint credit facilities provided by BCA and its subsidiaries to debtors or groups of debtors as of December 2024
amounted to Rp275.2 trillion or 29.9% of the Bank’s total outstanding loans as of December 31, 2024. The NPL for this
credit portfolio was 1.5%.
Facilities (in billion Rupiah)
Number of
Collectibility BCA - BCA BCA
Debtors BCA BCA Total
Parent Finance Multi
Finance Syariah Exposure
Entity Limited Finance
Current 419,717 257,533 5,740 28 1,249 447 264,996
Special Mention 31,432 5,596 370 - 13 35 6,014
Substandard 2,097 507 27 - - 3 537
Doubtful 2,909 456 38 - 12 3 509
Loss 7,684 2,984 122 - 57 8 3,172
Total 463,839 267,075 6,298 28 1,330 497 275,228
272 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
IMPACT OF REGULATORY CHANGES BUSINESS CONTINUITY INFORMATION
BCA maintains customer trust by providing comprehensive
Impact Of Regulatory Changes and high-quality financial solutions through the
In 2024, new regulations were issued, impacting BCA’s implementation of prudential principles supported by
business and subsidiaries, including: technology and digitalization.
- PBI No. 5 of 2024 dated 9 July 2024. BCA needs to
ensure ownership of Payment System Competency- Recognizing the importance of security and the increasing
Based Training (PBK) certificates and/or HR Payment risks of cybersecurity, BCA ensures the implementation of
System Competency Certificates and conduct the three key aspects of information technology security:
Payment System competency training. human resources, processes, and technology.
- PBI No. 6 of 2024 dated 11 July 2024. BCA is required
to adjust its internal regulations related to the reference BCA also manages IT-related operational risks by focusing
rate from the Jakarta Interbank Offered Rate (JIBOR) to on reliability, security, availability, and timeliness to serve
the Indonesia Overnight Index Average (IndONIA). and protect both customers’ and BCA’s assets through
- PBI No. 7 of 2024, dated 30 July 2024. BCA is required various measures, including:
to adjust the reporting of foreign debt and other • Implementing security systems that adhere to both
liabilities in short-term foreign exchange currency domestic and international system standardization.
that is reported in the Integrated Commercial Bank • Utilizing monitoring system tools to detect system
Report(LBUT). disturbances, fraud threats, and cyberattacks to
- PADG No. 4 Year 2024 dated 22 May 2024, PADG minimize potential losses and reputational risks.
No. 21 Year 2024 dated 12 December 2024. BCA is • Conducting reviews and enforcing security policies for
required to adjust its internal policies and calculate the applications accessed via VPN and for users working
GWM in accordance with the latest regulations. from hubs, along with providing necessary security
- POJK No. 4 of 2024, dated 26 February 2024. BCA is recommendations.
required to adjust the implementation of the obligation
to report ownership or changes in ownership of public BCA also enhances employee competencies, in particular
company shares and activities involving the pledging to support innovation in digital banking services and
public company shares. strengthen customer relationships. Leadership succession
- POJK No. 11 of 2024, dated 22 July 2024. BCA is and regeneration processes are managed prudently,
required to adjust the proportion of outstanding debtors in alignment with the company’s values and sound
in the debtor report to include guarantor companies, governance practices.
insurance companies and LPBBTI.
- POJK No. 12 Year 2024 dated 23 July 2024. BCA shall BASIC LENDING RATE (SBDK)
evaluate its existing anti-fraud strategy policy and In line with transparency and reporting practices, BCA
report to OJK. discloses its Prime Lending Rate (SBDK) through its
- POJK No. 15 of 2024, dated 2 October 2024. BCA is website and annual reports. This supports good corporate
required to develop and implement internal control governance practices and promotes healthy competition
policies, establish an anti-fraud unit, and report to OJK in the banking industry.
on internal control and supervision by the Board of
Commissioners. Information on changes in the Prime Lending Rate is
available at branches and can be accessed on the website
CHANGES IN ACCOUNTING POLICIES www.bca.co.id. Below is quarterly information on the
Details regarding changes in accounting policies can be Prime Lending Rate established by BCA for 2024:
found in the audited report, Note 2.d, on page 559-560.
Prime Lending Rate at the End of Each Quarter (effective % p.a)
Prime Lending Rate Based on Loan Segment
End of Period Consumer Loan
Corporate Loan Retail Loan
Mortgage Non Mortgage
Quarter IV - 2023 7.90 8.10 7.20 5.96
Quarter I - 2024 7.90 8.10 7.20 5.96
Quarter II - 2024 7.90 8.10 7.20 5.96
Quarter III - 2024 7.90 8.10 7.20 5.96
Quarter IV - 2024 7.77 8.33 9.45 7.38
2024 Annual Report PT Bank Central Asia Tbk 273
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
PROSPECTS, STRATEGIC PRIORITIES, 2. Maintaining a sound Loan Portfolio
AND PROJECTIONS FOR 2025 In conducting its business, BCA will continue to disburse
loans selectively with due regard to the precautionary
Economic and Banking Sector Prospects for 2025 principle. BCA will continue to explore new industries
Domestic economic growth prospects in 2025 is projected with high potential through an in-depth analysis process
to be moderate. Bank Indonesia has supported the to increase industry diversification. In maintaining the
domestic business climate through prudent monetary quality of its loan portfolio, BCA continuously monitors
policies and overall macroprudential policies. and takes proactive measures to maintain credit quality.
As a proxy for the economy, the national banking industry, To support credit processing and debtor acquisition,
both lending and funding, is predicted to increase in line BCA will continue to develop and improve credit
with Indonesia’s economic growth. infrastructure through simplification and optimization
of credit processing. In addition, BCA also continues to
A discussion and review of the macroeconomic and develop the quality of PIC relationships through various
banking sector can be found on page 255-257. programs to maintain and improve debtor satisfaction
levels. Discussion of disbursements across various
BCA’s Strategic Priorities and 2025 Projections segments are included in the Management Discussion
Broadly, BCA’s short to medium-term policy direction and Analysis under the Corporate Banking, Commercial
and strategic steps will focus on key strategic initiatives, & SME Banking, and Individual Banking sub-chapters on
including: pages 123-132.
1. Strengthening the transaction banking franchise 3. Providing of comprehensive banking solutions
through enhanced payment settlement service together with subsidiaries
capabilities To meet the increasingly diverse needs of various
As a bank with transaction banking as one of its customer segments, BCA provides a comprehensive
core businesses, BCA is committed to meeting the financial products and services. One of these efforts
increasingly diverse needs of its customers. To achieve is through synergies with Subsidiaries engaged in the
this, BCA is committed to consistently improving fields of financing, digital banking, sharia banking,
payment settlement service capabilities from various securities, and insurance. BCA is committed to growing
aspects to support the growth of CASA (Current with its Subsidiaries and encouraging them to become
Accounts and Savings Account). major players in their business lines.
BCA’s multi-channel transaction banking ecosystem Category 2025 Target
continuously expanded and refined to provide services Gross Domestic Product (GDP) 5%
that are more integrated within the BCA ecosystem and Loan Growth 6% - 8%
provide added-value to customers. BCA also continues
Net Interest Margin (NIM) 5.7% - 5.8%
to focus on implementing a hybrid banking business
CIR (Cost to Income Ratio) 33% - 34%
model, combining physical and digital services, which is
Cost of Credit (CoC) ~0.3%
expected to provide customers with an easy, safe, and
Return on Asset (ROA) 3.6% - 3.8%
convenient transaction experience. A discussion on the
Return on Equity (ROE) 21% - 23%
development of transaction banking is included in the
Directors’ Report on pages 24-35 and in the Transaction
Banking section on page 120-122.
274 PT Bank Central Asia Tbk 2024 Annual Report
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d te
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Cor
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
GLOSSARY
No. Keyword/Term Initials No. Keyword/Term Initials
1. Annual General Meeting of AGMS 24. Information Technology ITSC
Shareholders Steering Committee
2. Annual Report AR 25. Integrated Corporate ICG
Governance
3. ASEAN Corporate Governance ACGS
Scorecard 26. Integrated Governance IGC
Committee
4. Asset Liability Committee ALCO
27. Integrated Risk Management IRMC
5. Audit Committee AC Committee
6. Bank Indonesia BI 28. Number (for Regulation) No.
7. Bank Indonesia Circular Letter BI Circular Letter 29. OJK Regulation No. 55/ OJK Regulation
POJK.03/2016 dated concerning the
8. Bank Indonesia Regulation BI Regulation
December 7, 2016 concerning Implementation
9. Bank Sustainability Report Sustainability the Implementation of Good of Governance
Report Corporate Governance for for Commercial
Commercial Banks, and as Banks
10. Risk Management Certification BSMR revoked by OJK Regulation No.
Body 17 of 2023 dated September
14, 2023 concerning the
11. Company BCA
Implementation of Governance
12. Corporate Social CSR for Commercial Banks
Responsibility
30. Personnel Case Advisory PCAC
13. Credit Policy Committee CPC Committee
14. Credit Committee CC 31. PT Bank Central Asia Tbk BCA
15. Extraordinary General EGMS 32. Public Accountant PA
Meeting of Shareholders
33. Public Accounting Firm PAF
16. Financial Report FR
34. Remuneration and Nomination RNC
17. Financial Services Institution FSI Committee
18. Financial Services Authority OJK 35. Risk Based Bank Rating RBBR
19. Financial Services Authority OJK Regulation 36. Risk Management Committee RMC
Regulation
37. Risk Oversight Committee ROC
20. Financial Services Authority OJK Circular
38. Small Medium Enterprises UMKM
Circular Letter Letter
39. Subsidiary Company of Subsidiary
21. Good Corporate Governance GCG
PT Bank Central Asia Tbk
22. Indonesia Deposit Insurance LPS
40. Value Added Tax VAT
Corporation
23. Indonesia Stock Exchange IDX
276 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
TABLE OF CONTENTS
282 Good Corporate Governance
325 13. Report on the implementation of the duties
of the Board of Commissioners Members
288 1. Corporate Governance Structure 325 14. Performance Assessment of the Corporate
Governance Outcomes
289 2. Corporate Governance Process
296 3. Corporate Governance Outcome
326 Independent Commissioners
299 General Meeting of Shareholders 326
326
1. Independent Commissioner Criteria
2. Terms of Office of Independent
299 1. Shareholders’ Rights
Commissioners
299 2. Annual GMS Financial Year 2023
326 3. Statement of Independence of Independent
301 3. Procedures for Organizing AGMS Commissioners
302 4. Attendance of Management, Committees,
and Shareholders
302 5. Chairperson of AGMS 328 Board of Directors
302 6. Rules of Conduct of GMS and Procedure for 328 1. Guideline and Code of Conduct of the Board
Vote Count of Directors (Board of Directors Charter)
304 7. 2024 AGMS Decision and its Realizations 328 2. Duties and Responsibilities of the Board of
Directors
308 8. 2023 AGMS Decision and its Realizations
330 3. Authorities of the Board of Directors
312 9. Realization of Dividend Payment
331 4. Criteria for Members of the Board of Directors
312 10. Statements Regarding Unrealized GMS
Resolutions 332 5. Nomination for Members of the Board of
Directors
333 6. Number and Composition of Members of the
313 Information on Ultimate/
Controlling Shareholder 334
Board of Directors
7. Terms of Office of the Board of Directors
334 8. Division of Duties and Responsibilities of the
Board of Directors
314 Board of Commissioners 337 9. Orientation Program for New Members of
314 1. Board of Commissioners Guidelines and Work the Board of Directors
Rules (Board of Commissioners Charter) 337 10. Training Program to Improve the
314 2. Duties and Responsibilities of the Board of Competency of the Board of Directors
Commissioners 341 11. Ownership of the Board of Directors that
316 3. Authorities of the Board of Commissioners Amount 5% or More of Paid-Up Capital
317 4. Criteria for the Members of the Board of 342 12. Concurrent Positions of Members of the
Commissioners Board of Directors
318 5. Nomination for Members of the Board of 344 13. Executive Committee under the Board of
Commissioners Directors' Implementation of Duties and
Evaluation Report
319 6. Number and Composition of the Members of
the Board of Commissioners 345 14. Board of Directors' Implementation Duties
Report
320 7. Term of Office of the Board of Commissioners
345 15. Performance Evaluation of Members of the
320 8. Orientation Program for New Board of Board of Directors
Commissioners Members
321 9. Training Programs In Order to Enhance the
322
Board of Commissioners Competence
10. Share Ownership of Members of the Board
346 Meetings of the Board of
Commissioners, the Board of
of Commissioners Amounting 5% or More of Directors, and Joint Meetings
the Paid-Up Capital
346 1. Meeting of the Board of Commissioners
323 11. Concurrent Position of the Board of
Commissioners Members 350 2. Meeting of the Board of Directors
324 12. Committees under the Board of 355 3. Joint Meeting of the Board of
Commissioners' Implementation of Duties Commissioners and the Board of Directors
and Evaluation Report 356 4. Attendance of the Board of Commissioners
and the Board of Directors at the GMS in 2024
2024 Annual Report PT Bank Central Asia Tbk 277
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
357 Affiliated Relationships of 373 6. Term of Office
Board of Commissioners, Board 373 7. Requirements for Audit Committee’s
Member
of Directors, and Controlling
374 8. Independence of Audit Committee
Shareholders Members
357 1. Affiliated Relationships between Board of 374 9. Duties and Responsibilities of the Audit
Commissioners Members and Other Board of Committee
Commissioners Members, Board of Directors
Members, and the Controlling Shareholders 375 10. Authorities of the Audit Committee
358 2. Affiliated Relationships between Board 375 11. Audit Committee Concurrent Position
of Directors Members and Other Board of 376 12. Policies and Implementation of Audit
Directors Members, Board of Commissioners Committee Meetings
Members, Controlling Shareholders, and the
377 13. Realization of the Work Program and
Controlling Shareholders
Implementation of Audit Committee
Activities in 2024
359 Diversity in the Composition of
the Members of the Board of
378
378
II. RISK OVERSIGHT COMMITTEE
1. Legal Basis
Commissioners and the Board of 378 2. ROC Charter
Directors 378 3. Structure and Membership of ROC
359 1. Diversity Policy 379 4. ROC Member Profiles and Qualifications
359 2. Diversity in the Composition of the Members 379 5. Education or Training
of the Board of Commissioners
380 6. Term of Office
360 3. Diversity in the Composition of the Members
380 7. ROC Membership Requirements
of the Board of Directors
381 8. Independence of ROC Members
381 9. Duties and Responsibilities of ROC
361 Performance Assessment of the
Board of Commissioners and the 382 10. Authorities of ROC
382 11. ROC Member Concurrent Position
Boardof Directors
382 12. Policies and Implementation of ROC
361 1. Performance Assessment Procedure of the Meetings
Board of Commissioners
383 13. Realization of Work Program and
362 2. Performance Assessment Procedure of the Implementation of Activities of ROC in
Board of Directors 2024
363 3. Performance Assessment Procedure of the 384 III. REMUNERATION AND NOMINATION
President Director COMMITTEE
384 1. Legal Basis
365 Remuneration Policy 384 2. RNC Charter
367 1. Procedures for Determining Remuneration 384 3. Structure and Membership of RNC
for the Board of Commissioners and the 385 4. RNC Member Profiles and Qualifications
Board of Directors
385 5. Education or Training
368 2. Variable Remuneration for the Board of
385 6. Term of Office
Commissioners, Directors and Employees
385 7. RNC Membership Requirements
369 3. Application of Remuneration for the MRT
at BCA (for all members of the Board of 386 8. Independence of RNC Members
Commissioners and Board of Directors)
386 9. Duties and Responsibilities of RNC
370 4. Data on Salary and Severance Paid Ratio
387 10. Authorities of RNC
387 11. Policies and Implementation of RNC
371 Board of Commissioners
Committees 388
Meetings
12. RNC Remuneration
371 I. AUDIT COMMITTEE 388 13. Realization of the Work Program and
Implementation of RNC Activities in 2024
371 1. Legal Basis
388 14. Policy Regarding the Succession of the
371 2. Audit Committee Charter
Board of Directors
371 3. Structure and Membership of Audit
388 IV. INTEGRATED GOVERNANCE COMMITTEE
Committee
388 1. Legal Basis
372 4. Profile and Qualifications of Audit
Committee Members 389 2. IGC Charter
372 5. Education or Training 389 3. Structure and Membership of IGC
278 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
390 4. Profile and Qualifications of IGC 407 IV. CREDIT POLICY COMMITTEE
Members
407 1. Structure, Membership of CPC, and
391 5. Education or Training Voting Rights Status
393 6. Term of Office 408 2. Meeting of CPC
393 7. IGC Membership Requirements 408 3. Decision Making
393 8. Independence of IGC Members 408 4. Frequency of CPC Meetings in 2024
394 9. Duties and Responsibilities of IGC 409 5. Realization of Work Program in 2024
395 10. Authorities of IGC 409 6. CPC Work Plan in 2025
395 11. IGC Member Concurrent Position 407 7. Realization of Work Program in 2024
395 12. Policies and Implementation of IGC 407 8. Realization of Work Program in 2024
Meetings
410 V. CREDIT COMMITTEE
396 13. Realization of the Work Program and
410 1. Structure, Membership, and Voting
Implementation of IGC Activities in
Rights Status of the CC
2023
411 2. Main Functions, Authorities, Duties, and
Responsibilities of the CC
397 Executive Committees of the
Board of Directors
411 3. CC Meeting
411 4. Decision Making
397 I. ASSET LIABILITY COMMITTEE
413 5. Realization of the 2024 Work Program
397 1. Structure, Membership of ALCO, and
413 6. CC Work Plan for 2025
Voting Rights Status
411 7. Realization of the 2024 Work Program
398 2. Main Functions, Authorities, Duties, and
Responsibilities of ALCO 411 8. CC Work Plan for 2025
398 3. Meeting of ALCO 414 VI. INFORMATION TECHNOLOGY STEERING
COMMITTEE
398 4. Decision Making
414 1. Structure, Membership of ITSC, and
399 5. Frequency of ALCO Meetings in 2024
Status of Voting Rights
400 6. Accountability Reporting
414 2. Main Functions, Authorities, Duties and
400 7. Realization of Work Program in 2024 Responsibilities of ITSC
400 8. Work Plan of ALCO in 2025 415 3. Meeting of ITSC
401 II. RISK MANAGEMENT COMMITTEE 415 4. Decision Making
401 1. Structure, Membership, and Voting 415 5. Frequency of ITSC Meetings in 2024
Rights Status
416 6. Accountability Reporting
401 2. Main Functions, Authorities, Duties, and
416 7. Realization of Work Program in 2024
Responsibilities of RMC
416 8. ITSC Work Plan in 2025
402 3. Meeting of RMC
417 VII. PERSONNEL CASE ADVISORY COMMITTEE
402 4. Decision Making
417 1. Structure, Membership of PCAC, and
402 5. Frequency of RMC Meetings in 2024
Voting Rights Status
403 6. Accountability Reporting
417 2. Main Functions, Authorities, Duties and
403 7. Realization of Work Program in 2024 Responsibilities of PCAC
403 8. Work Plan of RMC in 2025 417 3. Meeting of PCAC
404 III. INTEGRATED RISK MANAGEMENT 417 4. Decision Making
COMMITTEE
418 5. Frequency of PCAC Meetings in 2024
404 1. Structure, Membership of IRMC, and
418 6. Accountability Reporting
Voting Rights Status
418 7. Realization of Work Program in 2024
404 2. Main Functions, Authorities, Duties, and
Responsibilities of IRMC 418 8. PCAC Work Plan in 2025
405 3. Meeting of IRMC
405
405
4. Decision Making
5. Frequency of IRMC Meetings in 2024
419 Corporate Secretary
419 The Structure and Position of the Corporate
406 6. Accountability Reporting Secretary
406 7. Realization of the Work Program in 2024 419 Legal Basis and Company Secretary Profile
406 8. Work Plan of IRMC in 2025 419 Competency Development and Training Program
420 Functions of the Corporate Secretary
2024 Annual Report PT Bank Central Asia Tbk 279
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
437 Risk Management System
421 Implementation of Corporate Secretary Duties in
2024
423 Information Disclosure Report 437 1. Risk Management System Overview
439 2. Types of Risk and Its Management
424 Investor Relations Function 444 3. Results of the Risk Management System
Effectiveness Review
424 1. Investor Relations Primary Duties 444 4. Statement of the Board of Directors
424 2. Investor Relations Activities and the Board of Commissioners on the
Adequacy and Review of the Effectiveness
of the Risk Management System
426 Internal Audit Division
426 1. Structure and Position of the Internal Audit
Division
445 Internal Control System
445 1. Internal Control System Framework
427 2. Head of Internal Audit Division Profile
445 2. Main Components of the Internal Control
427 3. Internal Audit Charter System
427 4. Independence & Objectivity 448 3. Internal Control System Evaluation
427 5. Audit Implementation and Quality Control 448 4. Board of Commissioners Statement on the
Standards Adequacy and Effectiveness of the Internal
428 6. Auditor Ethics and Professionalism Control System
428 7. Internal Audit Duties and Responsibilities
428 8. Auditor Composition and Competency
Development 449 Implementation
Fraud Strategy
of the Anti-
429 9. Implementation of Internal Audit Division 449 1. Introduction
Duties in 2024
449 2. Objectives
429 10. Internal Audit Division Advisory Activities in
2024 451 3. Implementation and Internalization
429 11. Focus of Audit Activities in 2025 452 4. Internal Fraud Violations Data in 2024
452 5. Reporting
430 Public Accountant (External
Audit)
432 1. Effectiveness of External Audit
453 Whistleblowing System
Implementation 453 1. Whistleblowing Procedure
432 2. Relationship Between Banks, Public 454 2. Whistleblower Protection
Accountants, and the Financial Services 454 3. Complaint Handling Flow
Authority
454 4. Parties who Manage the Report
432 3. 2024 Audit Fees
454 5. Disclosure of Internal Fraud and Complaints
432 4. Services provided by PAF/PA other than Audit through the Whistleblowing System in 2024
433 Compliance Function 455 Anti-Corruption And
Gratification Control Policy
433 1. Organizational Structure of DCP
455 1. Background
433 2. DCP Responsibilities
455 2. Anti-Corruption and Gratification Control
433 3. Integrated Compliance Function Policy
433 4. Implementation of Compliance Function 456 3. Implementation of Anti-Corruption and
Work in 2024 Gratification Control Policies
435 5. 2024 Compliance Indicators 456 4. Other information
435 6. Anti-Money Laundering, Counter-Terrorism
Financing, and Prevention of Financing for the
Proliferation of Weapons of Mass Destruction
(AML, CTF, and PFPWMD) Programs
457 Affiliated Transactions and
Conflict of Interest Transactions
455 1. Affiliated Transactions
463 2. Conflict of Interest Transactions
280 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
466 Legal Cases 491 Provision of Fund to Related
Party and Large Exposure
466 1. Criminal Law Cases
491 1. Policy on Provision of Funds to Related
466 2. Civil Law Cases Parties
468 3. Legal Cases Faced by the Subsidiaries 491 2. Policy on the Provision of Large Exposure
492 3. Lending Policy for the Boards of Directors
and the Board of Commissioners
469 Important Cases &
Administrative Sanctions 492 4. Implementation of the Provision of Funds to
Related Parties in 2024
470 Information Access and
Corporate Data 493 Strategic Plan
470 1. Communication Channels of Stakeholders
471
472
2. Product Information and Transparency
3. Company Information and Data Facilities
493 Transparency of Financial
and Non-Financial Conditions
475 4. List of 2024 Press Releases Undisclosed in Other Reports
481 5. Correspondence to Financial Service 493 1. Financial Condition Transparency
Authority and Indonesian Stock Exchange 494 2. Non-Financial Condition Transparency
485 6. Internal Communications
495 Funding Social Activities
487 Code of Ethics
495 Funding Political Activities
487 1. Cores of BCA Code of Ethics
487 2. Enforcement of the Code of Ethics
487 3. Code of Ethics Related to Anti-Corruption
487 4. Vendor-Related Code of Conduct 496 Implementation
Governance
of Integrated
488 5. Socialization
488 6. Enforcement and Sanctions for Code of 496 1. Self-Assessment Report on Integrated
Ethics Violations Governance Implementation
488 7. Cases of BCA Code of Ethics Violations in 497 2. BCA Financial Conglomerate Structure
2024 497 3. Share Ownership Structure in Financial
Conglomerate of BCA
489 Corporate Culture
499 4. Management Structure in Financial
Conglomerate of BCA
489 1. BCA Vision and Mission 505 5. Intra-Group Transaction Risk
489 2. BCA Values
489
489
3. Socialization of Vision, Mission and Values
4. Corporate Culture Introduction for New
507 Information Related to the
Fulfillment of Corporate
Employees Governance Implementation
489 5. Corporate Culture Introduction for New 507 1. OJK Regulation No. 17 of 2023 on the
Members of The Board of Commissioner Implementation of Governance for
and/or the Board of Directors Commercial Banks
508 2. Implementation of Public Company
490 Stock Ownership Program by
Management and/or Employees
Governance Guidelines (OJK Circular Letter
Recommendation No.32/SEOJK.04/2015)
514 3. The Implementation of the OECD Corporate
Through the MSOP/ESOP Option Governance Principles by BCA, is as follows:
514 4. The Principles of Corporate Governance
490 Shares Buyback are in Accordance with the Guidelines for
Corporate Governance Principles for Banks
516 5. Indonesian Corporate Governance
490 Other Corporate Actions
Guidelines
528 6. ASEAN Corporate Governance Scorecard
(ACGS)
528 7. Bad Corporate Governance Statement
2024 Annual Report PT Bank Central Asia Tbk 281
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis Good Corporate Governance Good Corporate Governance (GCG) is an aspect of sustainability which is an important foundation for BCA in the conduct of its business activities and operations. Strengthening implementation of GCG principles in an integrated manner have gained the support and trust of shareholders and stakeholders, which has positively contributed to BCA's performance, including its solid performance amidst the many challenges of the national economy. 282 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
COMMITMENT TO THE IMPLEMENTATION OF GOOD CORPORATE GOVERNANCE
PRINCIPLES
Based on the provisions of laws and regulations and business ethics, GCG principles are an important basis for corporate
management. This is reflected in BCA's excellent health, which has strengthened trust, and provided added value to
investors and stakeholders over the long term.
The implementation of GCG in an integrated manner is not just to fulfill regulatory requirements, but is driven by the
realization that the implementation and continuous improvement of GCG is an important key to improving performance and
sustainable competitive advantage. BCA continuously makes improvements, adjusts operational policies and procedures
to comply with applicable regulations, develops systems and increases awareness of all BCA personnel and adopts best
practices.
Good Corporate Governance (GCG) implementation supported a number of BCA’s achievements in 2024 as follows.
ASSETS LOANS TOTAL THIRD- TOTAL
PARTY FUNDS CONSOLIDATED
NET PROFIT
Rp1,449.3 Rp921.9 Rp1,133.6 Rp54.8
trillion trillion trillion trillion
2.93% YoY 13.8% YoY 2.90% YoY 12.7% YoY
Awards received by BCA for the Implementation of GCG Principles include:
The 15th IICD
Corporate ABF Retail Banking
Grand Champion ACGS "Most Committed
Governance Awards 2024
Annual Report ASEAN Asset Conference &
to ESG (Silver)"
"Fraud Initiative
Award Class PLCs Award 2024 of the Year -
“Best Overall” Indonesia"
2024 Annual Report PT Bank Central Asia Tbk 283
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
BCA won the Grand Champion of Annual Report Award 2023
Purpose of Implementing Good Corporate Regulation No. 30/2020 and has been revoked by
Governance OJK Regulation No.30 of 2024 concerning Financial
The implementation of GCG principles at BCA aims, among Conglomerates and Financial Conglomerates Holding
others, to: Company ("OJK Regulation on the Implementation of
a. Support BCA’s vision, “To be the bank of choice for Integrated Risk Management").
the community and a major pillar of the Indonesian - OJK Regulation No. 18/POJK.03/2014 on the
economy”. Implementation of Integrated Governance for
b. Support BCA’s mission, namely: Financial Conglomerates Integrated Governance
• To build centers of excellence in payment for Financial Conglomerates as partially revoked by
settlements and financial solutions for business OJK Regulation No.45/POJK.03/2020 regarding
and individual customers. Financial Conglomerates and has been revoked by
• To understand diverse customer needs and OJK Regulation No.30 of 2024 concerning Financial
provide the right financial services to optimize Conglomerates and Financial Conglomerates Holding
customer satisfaction. Company ("OJK Regulation on the Implementation of
• To enhance our corporate franchise and Integrated Governance").
stakeholders’ value. - OJK Regulation No. 33/POJK.04/2014 concerning the
c. Provide benefits and added value for shareholders Board of Directors and the Board of Commissioners of
and stakeholders. Issuers or Public Companies.
d. Maintain and improve sustainable healthy and - OJK Regulation No. 8/POJK.04/2015 concerning
competitive business continuity Issuer or Public Company Websites.
e. Increase investor confidence in BCA. - OJK Regulation No. 21/POJK.04/2015 concerning
the Implementation of Public Company Governance
Basis for the Implementation of Good Corporate Guidelines.
Governance at BCA - OJK Regulation No. 31/POJK.04/2015 concerning the
BCA has implemented Good Corporate Governance with Disclosure of Information or Material Facts by Issuers
reference to regulatory provisions, internal regulations, and or Public Companies.
applicable best practices on a national and international - OJK Regulation No. 5/POJK.03/2016 concerning Bank
scale. In addition, internal policies and provisions related Business Plans.
to the implementation of Good Corporate Governance - OJK Regulation No. 32/POJK.03/2016 concerning
also refer to BCA’s Articles of Association, ensuring that Amendments to OJK Regulation No. 6/POJK.03/2015
policies do not only comply with existing regulations but concerning Transparency and Publication of Bank
are also in line with BCA’s business efforts. Reports.
- OJK Regulation No. 29/POJK.04/2016 concerning the
The laws and regulations referenced in the implementation Annual Reports of Issuers or Public Companies.
of Good Corporate Governance at BCA include the - OJK Regulation No. 18/POJK.03/2016 concerning the
following: Implementation of Risk Management for Commercial
- Law No. 8 of 1995 concerning Capital Markets. Banks.
- Law No. 40 of 2007 concerning Limited Liability - OJK Regulation No. 39/POJK.03/2019 concerning the
Companies. Implementation of Anti-Fraud Strategy as revoked
- OJK Regulation No. 17/POJK.03/2014 on the by OJK Regulation No. 12 of 2024 concerning the
Implementation of Integrated Risk Management for Implementation of Anti-Fraud Strategy for Financial
Financial Conglomerates Finance which has been Services Institutions.
partially revoked by OJK Regulation No. 45/OJK
284 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
- OJK Regulation No. 37/POJK.03/2019 concerning - OJK Circular Letter No.14/SEOJK.03/2015 concerning
Transparency and Publication of Bank Reports. the Implementation of Integrated Risk Management
- OJK Regulation No. 42/POJK.04/2020 concerning for Financial Conglomerates.
Affiliated Transactions and Conflict of Interest - OJK Circular Letter No.15/SEOJK.03/2015 concerning
Transactions. the Implementation of Integrated Governance for
- OJK Regulation No. 12ß/POJK.03/2021 concerning Financial Conglomerates.
Commercial Banks. - OJK Circular Letter No.32/SEOJK.04/2015 concerning
- OJK Regulation No. 11/POJK.03/2022 concerning Guidelines for Public Company Governance.
the Implementation of Information Technology by - OJK Circular Letter No. 13/SEOJK.03/2017 concerning
Commercial Banks. the Implementation of Governance for Commercial
- OJK Regulation No. 18 of 2022 concerning Written Banks.
Orders as revoked by OJK Regulation No. 31 of 2024 - OJK Circular Letter No. 9/SEOJK.03/2020 concerning
concerning Written Orders. Transparency and Publication of Conventional
- OJK Regulation No. 22 of 2022 concerning Equity Commercial Bank Reports.
Participation Activities by Commercial Banks which - OJK Circular Letter No.12/SEOJK.03/2021 concerning
has been partially revoked by OJK Regulation No. 26 Business Plans for Commercial Banks.
of 2024 concerning the Expansion of Banking Business - OJK Circular Letter No. 16/SEOJK.04/2021 concerning
Activities. Form and Content of Annual Reports of Issuers or
- OJK Regulation No. 17 of 2023 concerning the Public Companies.
Implementation of Governance for Commercial Banks - Roadmap of Indonesian Corporate Governance
("OJK Regulation concerning the Implementation of Guidelines issued by OJK.
Governance for Commercial Banks"). - BCA's Articles of Association.
- OJK Regulation No. 11/POJK.04/2017 concerning
Reports on Ownership of, or Any Changes of In implementing Good Corporate Governance, BCA also
Ownership of, Shares in Public Companies as revoked refers to several best practices guidelines as follows:
OJK Regulation No. 4 of 2024 concerning Reports on - Indonesian General Guidelines for Corporate
Ownership of, or Any Changes of Ownership of, Shares Governance (PUGKI) issued by the National
in Public Companies and Reports on the Activities of Governance Policy Committee (KNKG).
Encumbering Public Company Shares ("OJK Regulation - ASEAN Corporate Governance Scorecard (ACGS)
on Changes of Ownership Shares Reports"). issued by the ASEAN Capital Market Forum (ACMF).
- OJK Regulation No. 15 of 2024 concerning the Integrity - Principles of Corporate Governance issued by
of Bank Financial Reporting. the Organization for Economic Cooperation and
Development (OECD).
- Principles for Enhancing Corporate Governance issued
by the Basel Committee on Banking Supervision.
The Implementation of Good Corporate Governance Principles
The implementation of GCG principles at BCA is based on OJK Regulation concerning the Implementation of Governance for
Commercial Banks and OJK Circular Letter No. 13/SEOJK.03/2017, which is based on 5 (five) basic principles: Transparency,
Accountability, Responsibility, Independence, and Fairness.
GCG Principles Implementation at BCA
Transparency • BCA submits a Corporate Governance Implementation Report and discloses the information in a timely,
clear, and easily accessible manner for stakeholders through the BCA website.
• BCA discloses material information or facts in accordance with the procedures stipulated in the capital
market regulations and/or related laws.
• BCA provides explanations to the public regarding news coverage in the mass media.
• In implementing the principle of transparency, BCA always fulfils the provisions of bank secrecy and
confidentiality of office.
• All stakeholders have access to information in accordance with the principle of transparency.
Accountability • Members of the Board of Directors and the Board of Commissioners have clear duties and
responsibilities.
• The Board of Directors and Board of Commissioners are held accountable for their performance through
the Annual General Meeting of Shareholders.
• Each organ has specific organizational duties and responsibilities that align with BCA’s vision, mission,
strategic goals, and efforts. This is evident in the BCA Organizational Structure, where each organ
performs its functions in accordance with its responsibilities.
Responsibility • BCA always adheres to the prudential banking principle in carrying out its business activities.
• BCA also acts as a good corporate citizen.
• BCA complies with the applicable laws and regulations.
2024 Annual Report PT Bank Central Asia Tbk 285
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
GCG Principles Implementation at BCA
Independence • BCA acts professionally, is not subject to pressure or intervention from any party, and is objective in all
decision making.
• BCA always avoids conflicts of interest.
Fairness • Based on the principle of equality and fairness, BCA always caters to the interests of all stakeholders
equally.
• BCA provides an opportunity for all shareholders at the GMS to express their opinions.
BCA’s Corporate Governance Implementation Roadmap
• Development or Improvement:
- Corporate Governance Guidelines
2021 - Guidelines and Work Rules of the Board of Commissioners
- Guidelines and Work Rules of the Board of Directors
- Anti-Corruption Policy and Gratification Control
- Corporate Secretary Work Guidelines
• Socialization:
- Implementation of Affiliated Transactions and Conflict of Interest Transactions
- Digitalization of Annual Disclosure
- Digitalization of Special List Reports
- Digitalization of the Board of Commissioners’ and Board of Directors’ Reports on the Company’s Share
Transactions
• Development or Improvement:
2022 - Gratification Control Reporting Policy
- BCA Website Information Management Policy
- Information Disclosure and Reporting Policy to Regulators (Information Disclosure and Reporting
Manual)
- Statement Letter from the Board of Directors and Board of Commissioners regarding commitment to
implementing GCG principles
- Remuneration and Nomination Committee Charter
- GCG implementation in accordance with the ACGS criteria in the form of:
1. Issuance of Code of Ethics Statement
2. The implementation of the orientation programme for new members of the Board of Directors
in connection with the appointment of Mr. Gregory Hendra Lembong and Mr Antonius Widodo
Mulyono
3. Regular updating of the BCA Corporate Governance section of the website
4. Audit Committee Charter
5. Risk Monitoring Committee Charter
• Socialization:
- Create socialization videos for BCA employees which are broadcast on social media and internal
digital publication media regarding:
1. GMS
2. Dividend Distribution
3. Annual report
4. Corporate Secretary
- Organizing a forum Group Discussion with Subsidiary Companies, with the topic:
1. Equity capital
2. Affiliated Transactions
3. Self Assessment of Integrated Governance Mapping indicators
4. Website management
- GCG Series, which BCA Personnel can access via the MyBCA Portal (Internal Portal)
• System Improvement:
- Revamping GCG E-Learning
- Enhancement of the Enterprise Management System of BCA’s internal portal to facilitate reporting,
sharing information, and GCG policies in an integrated manner, including:
1. Digitalization of GMS Quorum Recap, BCA Dividends, TKB
2. Digitalization of BCA TKB & TKT Self-Assessment Rankings
3. Digitalization of BCA Share Composition
4. Digitalization of Stock History
5. Digitalization of PAF/PA Recap
6. Digitalization of Corporate Secretary Data
- Enhancement of Robotic Process Automation (RPA) related to downloading securities data from KSEI
- Enhancement of automation of classification and monitoring of changes in BCA share ownership data
on behalf of the Board of Commissioners and the Board of Directors
286 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
• Development or Improvement
2023 - Affiliated Transaction and Conflict of Interest Transaction Policy
- Integrated Governance Committee Charter
- Remuneration and Nomination Committee Charter
- Risk Monitoring Committee Charter
- ALCO Charter
- Risk Management Committee Charter
- Integrated Risk Management Committee Charter
- Credit Committee Charter
- Credit Policy Committee Charter
- Information Technology Steering Committee Charter
- Personnel Case Advisory Committee Charter
• Socialization
- Create socialization videos for BCA employees which are broadcast on social media and internal
digital publication media regarding:
1. Corporate Action: Stock Split
2. Capital Market Supporting Institutions and Professions
3. Securities Administration Bureau
4. Board of Commissioners Committee
- Organizing a Group Discussion Forum with Subsidiary Companies, with the topic:
1. Transaction Cooperation Policy with Related Parties or Affiliated Parties
2. Special List
3. Arm’s Length Transaction
4. General Guidelines for Corporate Governance
- GCG Series, which BCA Personnel can access via the MyBCA Portal (Internal Portal)
• System Improvement
- Affiliated Transaction Reporting System
- Robotic Process Automation (RPA) enhancement to increase data accuracy for ANTASENA OJK
reporting
- GCG implementation in accordance with the ACGS criteria, namely updating the BCA Corporate
Governance section of the website regularly
- Digitalization of work unit reminders for coordination reports related to GCG, affiliated transactions,
etc
- Automation of reminders for management meeting attendance levels
- Digitalization of the GMS and Dividend Calendar
• Development or Improvement
2024 - Board of Commissioners Charter
- Board of Directors Charter
- Audit Committee Charter
- Information Technology Steering Committee Charter
- Ownership Reports or Any Changes in Share Ownership Policy
- Personal Data Protection Policy
- Implementation of Affiliated Transactions and Conflict of Interest Transactions Policy
• Socialization
- Create socialization videos for BCA personnel that are broadcast on social media and internal digital
publication media regarding capital market supporting institutions
- Organizing a Group Discussion Forum with Subsidiary Companies regarding:
1. Calculation of Carbon Emissions for BCA Subsidiary Companies
2. Affiliated Transactions and Conflicts of Interest
3. Implementation of Anti-Fraud
- Instructions for Implementing Affiliated Transactions for all Regional Offices and Head Office Work
Units
- GCG Series, which can be accessed by BCA personnel on the MyBCA Portal (Internal Portal)
• System Improvement
- Affiliate Transaction Reporting System
- Tax tracking system notifications related to affiliated parties
- Implementation of GCG, referring to ACGS criteria, namely updating the BCA Corporate Governance
section of the website regularly
- Enhanced digitization of recaps of the Board of Directors' meetings, Board of Commissioners
meetings, Committee meetings under the Board of Commissioners and the Board of Directors
- ESG Ratings Dashboard
- Creation of an ESG Chatbot, as a solution to facilitate communication with work units.
- Enhancement i-sign Board Minute of Meetings
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Corporate Governance Structure and Mechanism
GCG at BCA is implemented through a series of core activities (governance structure, governance process, and governance
outcome) that are based on GCG principles and in accordance with BCA's commitment.
Implementation of GCG Principles at BCA
GCG Principles in 1. Transparency GCG Principles based 1. Ethical Conduct
General 2. Accountability on PUGKI 2. Transparency
3. Responsibility 3. Accountibility
4. Independency 4. Sustainability
5. Fairness
BCA Commitment 1. Vision
2. Mission
3. Values
4. Guidelines/Charter
5. Code of Ethics
Governance Structure 1. Main organs (GMS, Board of Commissioners, Board of Directors)
2. Supporting Organs (Committees under the Board of Commissioners, Committees under the Board
of Directors, Corporate Secretary, Risk Management Division, Compliance Division, Legal Group,
Internal Audit Division, ESG Group)
Governance Process 1. Communication with stakeholders
2. Policy formulation & decision making
3. Assessment & evaluation
Governance Outcome 1. Positive growth of BCA’s performance
2. Bank Soundness Level
3. Assessment of credible rating agencies for corporate performance and/or BCA’s GCG practices
4. Awards from various reputable organizations
1. Corporate Governance Structure
BCA has established a corporate governance structure that reflects the principle of checks and balances in
implementing Good Corporate Governance.
GENERAL MEETING OF SHAREHOLDERS
(GMS)
Checks and Balances
BOARD OF COMMISSIONERS BOARD OF DIRECTORS
Asset Liability Corporate
Audit Committee
Committee (ALCO) Secretary
Risk Oversight Risk Management Risk Management
Committee Committee Division
Remuneration Integrated Risk
and Nomination Management Compliance Division
Committee Committee
Integrated Credit Policy
Governance Legal Group
Committee
Committee
Credit Committee Internal Audit Division
Information
Technology Steering ESG Group
Committee
Personnel Case
Advisory Committee
288 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
• Disclosure related to the GMS can be seen in the GMS Chapter in this Annual Report.
• Disclosure related to the Board of Commissioners can be seen in the Board of Commissioners Chapter in this
Annual Report.
• Disclosure related to the Board of Directors can be seen in the Board of Directors Chapter in this Annual Report.
• Disclosure related to the Audit Committee, Risk Monitoring Committee, Remuneration and Nomination Committee,
Integrated Governance Committee can be seen in the Board of Commissioners Committees Chapter in this Annual
Report.
• Disclosure related to ALCO, Risk Management Committee, Integrated Risk Management Committee, Credit
Policy Committee, Credit Committee, Information Technology Steering Committee, and Personnel Case Advisory
Committee can be seen in the Chapter of Executive Committees of the Board of Directors in this Annual Report.
• Disclosure related to the Corporate Secretary can be seen in the Corporate Secretary Chapter in this Annual
Report.
• Disclosure related to the Risk Management Division can be seen in the Risk Management Implementation Chapter
in this Annual Report.
• Disclosure related to Compliance Division can be seen in the Compliance Function Chapter in this Annual Report.
• Disclosure related to Internal Audit Division can be seen in the Internal Audit Division Chapter in this Annual Report.
2. Corporate Governance Process
BCA’s commitment to implementing Good Corporate Governance is manifested, among others, through:
a. Existing internal policies related to Good Corporate Governance
BCA has an internal policy related to Good Corporate Governance as a means of fulfilling BCA’s compliance with
regulations as well as supporting infrastructure and the implementation of Good Corporate Governance. Several
BCA policies related to Good Corporate Governance include:
Subject Type of Internal Policies
General Provisions 1. Articles of Association.
2. The Code of Ethics.
Corporate Governance Board of Directors Decree No.121/SK/DIR/2021 dated June 30, 2021 regarding Adjustment of
Guidelines Corporate Governance Guidelines.
Board of Commissioners 1. Work Guidelines and Code of Conduct of the Board of Commissioners as well as Work
and Board of Directors Guidelines and Code of Conduct of the Board of Directors are an integral part of the Corporate
Governance Guidelines contained in the Board of Directors’ Decree No.121/SK/DIR/2021 dated
June 30, 2021 regarding Adjustments to Governance Guidelines.
2. Refinement of the Board of Directors Meeting and Board of Commissioners Meeting policies
contained in Decree No. 165/SK/DIR/2024, regarding Changes to the Conditions for Attendance
Quorum at Meetings of the Board of Commissioners and the Board of Directors
Orientation Policy for Board of Directors Decree No. 189/SK/DIR/2020 dated December 4, 2020 regarding Orientation for
New Members of the New Members of the Board of Directors and Board of Commissioners.
Board of Directors and
Board of Commissioners
Committee under the 1. Board of Commissioners Decree No. 168/SK/KOM/2024 dated October 16, 2024 concerning the
Board of Commissioners Audit Committee Charter of PT Bank Central Asia Tbk.
2. Board of Commissioners Decree No. 212/SK/KOM/2024 dated December 10, 2024 concerning
the Risk Oversight Committee Charter.
3. Board of Commissioners Decree No. 003/SK/KOM/2023 dated January 4, 2023, concerning the
Structure of the Remuneration and Nomination Committee.
4. Board of Commissioners Decree No. 121/SK/KOM/2023 dated July 17, 2023 concerning the
Charter of the Integrated Governance Committee - BCA.
5. Chapter 3 of the BCA Governance Guidelines concerning the Guidelines and Rules of
Committees Supporting the Board of Commissioners.
Corporate Secretary Board of Directors Decree No. 259/SK/DIR/2021 dated December 23, 2021, concerning the
Corporate Secretary Charter.
Integrated Governance 1. Board of Directors Decree No. 217/SK/DIR/2020 dated December 30, 2020 concerning the
Guidelines for Integrated Governance of PT Bank Central Asia Tbk (BCA) and Subsidiaries.
2. Board of Directors Decree No. 037/SK/DIR/2017 dated March 27, 2017 concerning Integrated
Compliance Risk Management Policy.
3. Corporate Charter – BCA Financial Conglomerate.
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Subject Type of Internal Policies
Affiliate and Conflict of 1. Board of Directors' Decree No. 219/SK/DIR/2003 dated November10, 2003, concerning
Interest Transactions Provisions Regarding Conflicts of Interest
2. Board of Directors' Decree No. 151/SK/DIR/2023 dated September 12, 2023, concerning
Affiliated Transactions and Conflict of Interest Transactions.
3. Circular Letter No. 155/SE/POL/2024 dated May15, 2024, concerning the Implementation of
Affiliated Transactions and Conflict of Interest Transactions.
Anti-fraud 1. Board of Directors Decree No. 114/SK/DIR/2021 dated June 17, 2021 concerning Adjustments to
the Anti-Fraud Strategy Policy.*)
2. Board of Directors Decree No. 139/SK/DIR/2020 dated July 30, 2020 concerning the Anti-Fraud
Declaration and Integrity Pact.**)
3. Circular Letter No. 377/SE/POL/2021 dated December 13, 2021, concerning Submission of
Reports on the Implementation of Anti-Fraud Strategies.
Note:
*) BCA has improved the Anti-fraud Strategy Policy in the Board of Directors Decree No. 009/SK/DIR/2025 dated January 20, 2025
concerning Adjustment to the Anti-fraud Strategy Policy.
**) BCA has improved the Anti-fraud Declaration and integrity pact in the Board of Directors Decree Anti-Fraud Declaration has
been updated in accordance with OJK Regulation No. 12 of 2024 with Decree No. 004/SK/DIR/2025 dated January 10, 2025
concerning Anti-Fraud Declaration and Integrity Pact.
Audit and Internal 1. Board of Directors Decree No. 0192/SK/DIR/2024 dated November 19, 2024 concerning Internal
Control Audit Charter.
2. Board of Directors Decree No. 183/SK/DIR/2017 dated December 13, 2017 concerning Guidelines
for Internal Control System Standards (PSSPI) of PT Bank Central Asia Tbk.
Risk Management 1. Board of Directors’ Decree No. 243/SK/DIR/2021 dated December 6, 2021, concerning the Basic
Risk Management Policy of PT Bank Central Asia Tbk.
2. Circular Letter No. 200/SE/POL/2023 dated July 4, 2023, concerning Instructions for
Implementing Integrated Compliance Risk Management.
3. Board of Directors Decree No.123/SK/DIR/2023 dated July 4, 2023, concerning Integrated
Compliance Risk Management Policy.
4. Board of Directors Decree No.244/SK/DIR/2021 dated December 6, 2021, concerning Integrated
Compliance Risk Management Policy Risk Management Policy of BCA Financial Conglomerate
Anti-Money Laundering Board of Directors Decree No. 242/SK/DIR/2022 dated December 23, 2022
concerning Anti-Money Laundering and Counter-Terrorism Financing guidelines
Whistleblowing System Board of Directors Decree No. 146/SK/DIR/2017 dated November 1, 2017 concerning the
Implementation of the Whistleblowing System at BCA.
Procurement 1. Board of Directors Decree No. 075/SK/DIR/2022 dated May 31, 2022 concerning Procurement
Guidelines of Goods or Services.
2. Board of Directors Decree 038/SK/DIR/2022 dated March 4, 2022 concerning Procurement
Guidelines of Goods or Services.
3. Circular Letter No. 085/SE/POL/2022 dated March 4, 2022 concerning adjustment of Process
Procurement of Goods or Services.
Insider Trading Chapter 11 of BCA Governance Guidelines concerning Insider Trading.
Gratification Control 1. Board of Directors Decree No.269/SK/DIR/2021 dated December 31, 2021, concerning Anti-
Corruption Policy and Gratification Control.
2. Circular Letter No.336/SE/POL/2022 dated September 15, 2022, concerning Reporting of
Gratification Control.
Disclosure of Information 1. Chapter 9 of BCA Corporate Governance Guidelines concerning Information Disclosure.
2. Circular Letter No.480/SE/POL/2022 dated December 15, 2022 concerning BCA website
information management.
Dividend Policy The dividend policy, as regulated in the BCA Governance Guidelines.
Remarks:
*) As also stipulated in the Board of Directors Decree No. 003/SK/DIR/2025 dated January 3, 2025 concerning the Dividend Policy.
Others Related Policy 1. Emergency handling policies, as regulated in the BCA Financial Conglomeration’s Integrated
Business Continuity Policy.
2. Information Technology Governance Policy.
3. Loan Policy for the Board of Directors and the Board of Commissioners.
4. Personal Data Protection Policy.
5. Reports on Ownership of, or Any Changes of Ownership of, Shares in Public Companies Policy.
BCA’s Corporate Governance Guidelines, which have been updated/refined and approved through the Board of
Directors' Decree Number 165/SK/DIR/2024 concerning Changes to the Conditions for Attendance Quorum at
Meetings of the Board of Commissioners and Directors, include discussion of:
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• Principles of Good Corporate Governance. 2) Dividend Policy
• General Meeting of Shareholders (GMS) and The Dividend Policy in general is regulated
its implementation. in the BCA Governance Guidelines, which
• The Board of Commissioners, as well as its include rules regarding the legal basis
guidelines and rules. for policies, considerations for dividend
• Supporting Committees of the Board of distribution, and GMS decisions regarding
Commissioners, as well as their guidelines dividends. The Dividend Policy is regulated in
and rules. more detail in the Board of Directors' Decree,
• The Board of Directors, as well as its which regulates the dividend distribution
guidelines and rules. method, dividend distribution principles,
• Communication and Information Functions. the amount of dividends given, the means
• Information Disclosure. of announcement (publication), distribution
• Insider Trading. flow, and dividend tax provisions, which
• Dividend Distribution. refer to the provisions and/or applicable
• Self-assessment Report on Implementation laws and regulations, including regulations
of Governance and Integrated Governance. from BI, OJK, BEI, taxation, as well as BCA's
• Annual Report on the Implementation of Articles of Association. The main points of the
Corporate Governance and Integrated dividend policy are available for download
Governance. in the Governance Policy section of the
BCA website (https://www.bca.co.id/en/
The main principles of BCA’s governance tentang-bca/tata-kelola/acgs/kebijakan-
guidelines are available for download in the gcg). Throughout 2024, the realization of
Governance section of the BCA website. (https:// dividend payments has been carried out in
www.bca.co.id/en/tentang-bca/tata-admin/ accordance with applicable regulations.
acgs/kebijakan-gcg).
The implementation of dividend payments is
In addition to these governance guideline, described on page 271 of this annual report.
as a part of its efforts to implement good
corporate governance, BCA has several policies 3) Conflict of Interest Policy
that meet the ACGS standard principles and BCA has a Conflict of Interest Policy based
recommendations, which include among others: on the Board of Directors Decree No. 219/
SK/DIR/2003 dated November 10, 2003,
1) Insider Trading Policy concerning Provisions of Conflicts of
The Insider Trading Policy is regulated in Interest. This policy is a guideline for BCA
the BCA Governance Guidelines, which personnel to always prioritize values in
include rules regarding the legal basis for dealings with customers, partners, and fellow
the policy, prohibitions, exclusions, and employees in the context of implementing
compliance with the insider trading policy. good corporate governance practices and
BCA Personnel must comply with applicable increasing public trust. The main points of
capital market regulations and uphold the conflict of interest policy are available
the values of the BCA Code of Ethics to for download in the Governance Policy
support the implementation of this policy. section of the BCA website (https://www.
BCA Personnel must ensure that personal bca.co.id/en/tentang-bca/tatakelola/
interests do not conflict with the interests of acgs/kebijakan-gcg).
BCA as a banking entity or customer, do not
abuse their position or authority for personal 4) Emergency Handling Policy
or family interests, and do not commit Policies for handling emergencies are
disreputable acts that could harm the image regulated in the Integrated Business Continuity
of their profession or the image of BCA in Policy of the BCA Financial Conglomerate.
general. The main insider trading policies are This policy contains the implementation of
available for download in the Governance Business Continuity to ensure the continuity
Policy section of the BCA website (https:// of the business of BCA and members of the
www.bca.co.id/en/tentang-bca/tata- BCA Financial Conglomerate in the event of
kelola/acgs/kebijakan-gcg). a disturbance. Issues regulated in this policy
include business continuity plan policies,
protocols from BCA to members of the BCA
Financial Conglomerate and vice versa, as
well as the priority order of recovery.
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5) Information Technology Governance Policy and credibility of the vendor. The main points
Along with the rapid development and of the procurement policy are available for
use of technology in providing banking download in the Governance Policy section
services, BCA has in place Information of the BCA website (https://www.bca.
Technology Governance Guidelines, which co.id/en/tentang-bca/tata-kelola/acgs/
cover policies related to information kebijakan- gcg).
technology risk, management of changes
in information technology, management Regarding procurement vendors, BCA
of information technology problems, Personnel must comply with the Code of
information technology quality control, Ethics Relating to Vendors, which can be
information technology capacity found on page 487 under the Code of Ethics
management, information technology Section of this Annual Report. Throughout
communication network management, and 2024, BCA has carried out procurement
data center physical security. BCA has also and/or the process of appointing suppliers/
carried out measurements of the maturity contractors in accordance with BCA’s
level of information technology. The main internal policies regarding the Procurement
information technology governance policies of Goods/Services/Information Technology
are available for download in the Governance and other stipulated provisions.
Policy section on the BCA website (https://
www.bca.co.id/en/tentang-bca/tata- 7) Communication Policy
kelola/acgs/kebijakan-gcg). BCA recognizes the importance of a
communication policy that governs
6) Procurement Policy communication between BCA and
In order to support banking business stakeholders. BCA already has a
activities, BCA requires the procurement Communication and Information Disclosure
of goods and services. This has prompted Policy as outlined in the Governance
BCA to develop procurement guidelines so Guidelines. The policy includes regulations
that it can obtain goods and/or services of related to the Corporate Secretary,
the expected quality in accordance with Reporting and Disclosure, Investor
applicable regulations and the principles of Relations, Communication Media, Access
Good Corporate Governance. Procurement to Information, Determining the Level of
policy at BCA includes policies on the Disclosure, Transparency Aspects of BCA
procurement of goods and/or logistics and Conditions, and Disclosure of Information
building services as well as procurement or Material Facts. BCA always makes it
related to information technology. convenient for stakeholders and the general
public to communicate and access BCA
Policies on the procurement of goods and/ information and data. The main points of
or logistics and building services contains the communication policy are available for
procurement terms and authorities, download at the Governance Policy section
centralized and decentralized procurement of the BCA website (https://www.bca.
systems, types of goods and/or services, co.id/en/tentang-bca/tata-admin/acgs/
handling of procurement issues, grouping kebijakan-gcg).
of activities, supporting documents,
procurement processes/flows, and vendor 8) Affiliated Transactions and Conflict of
selection. Procurement policies related to Interest Transactions
information technology include procurement, Affiliated Transactions and Conflict of
trial activities, end user computing, Interest Transaction policies can be found on
procurement recommendations and page 457 under the Information on Affiliated
approvals, procurement recommendation Transactions and Conflict of Interest
and approval authorities, multi principal/ Transactions section of this Annual Report.
multi-vendor/multi brand implementation,
as well as procurement implementation 9) Loan Policy for the Board of Directors and
guidelines. The procurement policy also the Board of Commissioners
stipulates a mechanism for finding and The Loan Policy for the Board of Directors
selecting potential vendors by considering and Board of Commissioners can be found
factors such as the cost of the goods/ on page 491 under the Provision of Funds to
services offered and the professionalism Related Parties section of this Annual Report.
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10) Orientation Policy for New Members 5) Indonesian General Guidelines for Corporate
of the Board of Directors and Board of Governance (PUGKI); and
Commissioners 6) ASEAN CG Scorecard (ACGS) Indicators
BCA has an Orientation Policy in place for
New Members of the Board of Directors and A detailed description of the fulfillment of the
Board of Commissioners based on the Board principles of Good Governance can be found
of Directors Decree No. 189/SK/DIR/2020 on page 496 under the Information Related to
dated December 4, 2020, concerning the Implementation of Corporate Governance
Orientation Policy for the New Board of section.
Commissioners and Board of Directors of
PT Bank Central Asia Tbk. The policy intends c. Internalization
that newly appointed members of the Board An effective effort in encouraging the realization
of Directors and Board of Commissioners of the implementation of GCG at BCA is
should take part in an orientation program to internalization at people of BCA. Internalization
gain an understanding of BCA in a short time. activities supporting the implementation of Good
Corporate Governance by BCA include:
11) Personal Data Protection Policy
As a fulfillment of Law No. 27 Year 2022 on 1) BCA Personnel Statement
Personal Data Protection, BCA has a Personal As a concrete manifestation of BCA's
Data Protection Policy based on Board of commitment to continue to improve the
Directors Decree No. 083/SK/DIR/2024. implementation of the principles of Good
Decree of the Board of Directors No. 083/ Corporate Governance in accordance
SK/DIR/2024 dated May 30, 2024 regarding with applicable regulations, each year BCA
Personal Data Protection. requires employees to make statements
regarding, among others:
12) Reports on Ownership of, or Any Changes of • Integrity Pact
Ownership of, Shares in Public Companies In line with OJK Regulation No.
Policy 39/POJK.03/2019 concerning
In order to comply with OJK Regulation on Implementation of Anti-Fraud
Changes of Ownership Shares Reports, Strategies for Commercial Banks, which
BCA has a policy of reporting BBCA's has been revoked by OJK Regulation No.
share ownership to OJK as stated in in 12 of 2024 concerning Implementation
Memorandum No. 0075/MO/ESG/2024 of Anti-Fraud Strategies for Financial
dated August 6, 2024 regarding Update Services Institutions, as well as for
of Power of Attorney related to Changes more effective implementation of Anti-
in BBCA Share Ownership Reporting Fraud Strategies, increased efforts
Mechanism to OJK. are needed to risk awareness culture
so that fraud prevention becomes the
b. Fulfillment of GCG Principles focus of attention and concern for all
BCA has complied with the principles of Good levels of the organization. Therefore,
Governance, including through: BCA carries out awareness of the digital
1) Recommendation of OJK Regulation No. 17 of signing of the integrity pact statement
2023 dated September 14, 2023, concerning by all BCA personnel.
the Implementation of Governance for • Code of Ethics
Commercial Banks; The BCA code of ethics statement
2) Recommendation of OJK Circular Letter was prepared to demonstrate the
No.32/SEOJK.04/2015 dated November commitment of BCA personnel to
17, 2015, concerning Guidelines for Public comply with the applicable code of
Company Governance; ethics. The code of ethics statement
3) Governance Principles from the Organization is carried out digitally via the MyBCA
for Economic Cooperation and Development Portal, every year.
(OECD); • Annual disclosure (minimum echelon 5
4) Guidelines of Corporate Governance and above).
Principles for Banks issued by the Basel In order to avoid potential conflicts of
Committee on Banking Supervision; interest and to create a situation that can
recognize, prevent, and resolve conflict
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of interest situations, BCA personnel • Customer Focus
prepare an Annual Disclosure statement The implementation of Customer Focus
every year. This statement illustrates includes SMART SOLUTION activities,
BCA's commitment to implementing namely programs intended to achieve
good corporate governance in a excellent BCA service to meet customer
transparent and efficient manner. needs and provide financial solutions,
evaluate the Branch Service Quality Index,
The written statement in the Annual and evaluate Customer Engagement.
Disclosure is as follows: • Integrity
a) A statement of whether or not Implementation of integrity, among
there is ownership of shares/share others, through cultural internalization
participation of 10% or more in a activities, namely the spirit of One BCA
company on behalf of oneself, a (One Goal, One Soul, One Joy) and
wife/husband and/or child, either Senada (Senantiasa di Sisi Anda).
individually or jointly; • Teamwork
b) A statement of whether the The implementation of teamwork
individual concerned is a includes the TEAAA (Team Engagement
Commissioner/Director/worker/ Action, Action, and Action) and Share
partner/ally/management at the Your TEX (Team Engagement Xperience)
company mentioned in point a) programs, where each leader can share
above and/or other companies; stories about action plans to improve
c) A statement of whether, during Team Engagement activities carried out
the reporting period, the company in their work units through BCA’s internal
referred to in points a) or b) above social media, namely MyXperience.
received credit from or became a • Continuous Pursuit of Excellence
partner to BCA; The implementation of the Continuous
d) A statement of whether or not Pursuit of Excellence includes the BCA
there are transactions involvement Innovation Award program, which
in the process of granting credit/ is open to all employees to provide
transactions as partners; innovative ideas for the development of
e) A statement of whether or not BCA.
there is a familial relationship The principles of Good Corporate
with the owner, Commissioners/ Governance are included in each of
Directors and/or BCA partners; BCA’s values, especially the values of
f) A statement of whether the integrity and pursuit of excellence.
individual concerned is an Vision, Mission, and Values can be found
administrator/member of any on the BCA website (https://www.bca.
other organization that may result co.id/en/tentang-bca/korporasi/visi-
in a conflict of interest; misi).
g) A statement of whether or not Socialization activities, which are
the individual has received gifts/ intended to internalize BCA’s culture and
rewards from parties related to values, are carried out through sharing
BCA that may negatively impact sessions, face-to-face socialization
and/or influence BCA’s decisions with leaders and colleagues in one
and/or are of a value that exceeds Community of Practice division, the
reasonable limits; as well as creation of comics containing BCA's
h) Other statements relating to the values, socialization via the intranet,
Conflict of Interest other than and screenings of videos about values
those covered in the points above. on the internal portal, which can be
downloaded at any time.
In order to facilitate access for BCA
personnel, BCA people statements can 3) Socialization of Good Corporate
be accessed online on the MyBCA Portal. Governance.
Socialization of Good Corporate
2) Socialization of BCA Values. Governance, among others, is carried out
The following are the BCA corporate values through:
that are instilled in each individual employee:
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• Socialization of the Principles and on the MyBCA internal portal, Anti-
Implementation of GCG fraud Awareness (AFA) videos, posters,
Socialization is carried out through the the COP for Implementation of the Anti-
Corporate Governance article (GCG Fraud Strategy, e-learning that must be
Series article) on the MyBCA internal followed by all employees, and so on.
portal, which can be accessed by all
employees, and broadcasts of videos BCA implements the AFA program
and infographics on, for example, the so that each employee can play an
themes of GCG principles, affiliated active role in implementing an anti-
transactions and conflicts of interest, fraud culture as an effort to implement
filling mechanisms annual disclosure, etc. the principles of responsibility and
• Socialization of the Code of Ethics independence in Good Corporate
In order to make it easier for BCA Governance, creating a conducive
employees to understand the Code work environment free of fraud. One of
of Ethics, socialization in 2024 was AFA program currently being promoted
carried out by playing a video that all is the Anti-Fraud Declaration and the
BCA employees can access via the completion of the Integrity Pact, which
BCA internal portal (myVideo), filling the are mandatory for every BCA personnel.
code of ethics statement electronically
via the BCA internal portal, and email
reminders to all employees.
• Socialization of Supporting Institutions
In 2024, BCA conducted socialization of
capital market supporting institutions,
among others:
- Public Accounting Firm and Public
Accountant
- Legal Consultant
- Notary
- Independent Capital Market
Appraisers
This socialization was carried out through • Socialization of Affiliated Transactions
plasma TV facilities at the Head Office, and Conflict of Interest Transactions
which were spread across Divisions/ BCA plays an active role in implementing
Work Units, as well as internal displays at information disclosure, or reports on
BCA Branch Offices. It is expected that by affiliated transactions and conflict
broadcasting the video about Supporting of interest transactions, as a form of
Institutions repeatedly, BCA Personnel implementing the principles of Good
will gain a better understanding of the Corporate Governance. Policies
function of Supporting Institutions in the related to affiliated transaction
capital market. reports and conflict of interest
transactions are set forth in the Board
• Socialization of the Anti-Fraud of Directors’ Decree No. 151/SK/
Awareness (AFA) DIR/2023 dated September 12, 2023,
BCA has Guidelines for Implementing concerning Affiliated Transactions
Anti-Fraud Strategies, which and Transactions Containing Conflicts
contain strategy implementation, of Interest and Circular Letter No.
risk management implementation, 155/SE/POL/2024 dated May 15,
reports that must be submitted to 2024, concerning Implementation of
regulators, and sanctions imposed. Affiliated Transactions and Transactions
BCA is also active in disseminating Containing Conflicts of Interest. This
fraud awareness and anti-gratification policy can be downloaded via the
by distributing Anti-Fraud comics, MyBCA portal (internal portal) which
Anti-Fraud Statements, Anti-Fraud can be accessed by all BCA employees
application slides and a whistleblowing throughout Indonesia. Socialization is
system that employees can download carried out through communication
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forums and sharing sessions between • Governance process
work units. Assessing the effectiveness of the
process of Good Corporate Governance
Implementation of Good Corporate implementation, which is supported
Governance is an important factor in by the adequacy of BCA’s Governance
maintaining the trust of shareholders structure and infrastructure.
and other stakeholders toward • Governance outcome
BCA. The need to implement Good Assessing the quality of outcomes
Corporate Governance is becoming that meet the expectations of BCA
increasingly significant, allowing BCA Stakeholders, which are the result of the
to maintain its business continuity amid process of Good Corporate Governance
increasing business risks and challenges implementation and are supported by
in the banking industry. Through the the adequacy of the BCA Governance
implementation of the principles of Good structure and infrastructure.
Corporate Governance, it is expected
that BCA will be able to maintain healthy 2) Assessment Criteria
and sustainable business continuity. The criteria used in the assessment are as
stipulated in OJK Circular Letter No. 13/
3. Corporate Governance Outcome SEOJK.03/2017 concerning Implementation
Achievement indicators for the implementation of of Governance for Commercial Banks,
Good Corporate Governance are assessed internally including at least 11 (eleven) factors for
and externally. The corporate governance assessment evaluating the implementation of Good
policy can be found in the BCA Governance Guidelines, Corporate Governance, namely:
which are available for download in the GCG Policy • Implementation of the duties and
section of the BCA website (https://www.bca. responsibilities of the Board of
co.id/en/tentang-bca/tata-administration/acgs/ Directors;
kebijakan-gcg). • Implementation of the duties and
responsibilities of the Board of
a. Internal Assessment Commissioners;
BCA conducts an internal assessment of the • Completeness and execution of
Implementation of Good Corporate Governance committee duties;
every semester using the self-assessment working • Handling conflicts of interest;
paper method, referring to OJK Circular Letter No.13/ • Implementation of the compliance
SEOJK.03/2017 concerning the implementation of function;
Governance for Commercial Banks. • Implementation of the internal audit
function;
1) Procedure • Implementation of the external audit
BCA’s Corporate Secretary and Integrated function;
GCG Team collect relevant data and • Implementation of risk management,
Information required for the self-assessment including the internal control system;
regarding the adequacy and effectiveness • Provision of funds to related parties and
of Good Corporate Governance large exposures;
Implementation. The assessment covers all • Transparency of the Bank’s financial
aspects of governance and considers the and non-financial conditions, reports on
principles of significance and materiality. the implementation of governance, and
After the data is collected, the positive internal reporting; and
and negative factors of each aspect of • The Bank’s strategic plan.
governance can be concluded, namely:
• Governance structure 3) The party conducting the assessment
Assessing the adequacy of Self-assessment of the 11 (eleven)
BCA’s Governance structure and assessment factors involve related
infrastructure so that the process of functions or units, including the Board of
implementing the principles of Good Commissioners, the Board of Directors,
Corporate Governance produces Committees, DAI, Compliance Division, Risk
outcomes in line with the expectations Management Division, Corporate Secretary,
of BCA’s Stakeholders. and other related work units.
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4) Self-Assessment Results
The self-assessment results for the implementation of Good Corporate Governance in semesters I and II of
2024 were ranked 1 (one), with the following details:
Results of Self-Assessment on the Implementation of Good Corporate Governance year 2024 Individually:
Rating Rating Definition
Semester I 1 BCA management has generally implemented very good governance. This result is
reflected in the adequate fulfillment of the Governance principles. If there are weaknesses
in the application of the principles of Governance, in general, these weaknesses are not
significant and can be resolved by normal actions by BCA management.
Semester II 1 BCA management has generally implemented very good governance. This result is
reflected in the adequate fulfillment of the Governance principles. If there are weaknesses
in the application of the principles of Governance, in general, these weaknesses are not
significant and can be resolved by normal actions by BCA management.
2. External Assessment • Rating result
1) ASEAN Corporate Governance Scorecard ACGS assessment results was 106.64.
In addition to self-assessments, the BCA, along with 9 other issuers,
corporate governance implementation at succeeded in achieving the ASEAN
BCA is also evaluated by an independent Asset Class PLCs category, and BCA’s
external party, RSM Indonesia, which serves score exceeded the average regional
as Indonesia’s Domestic Ranking Body assessment with the following details:
(DRB) for the ASEAN Corporate Governance
Scorecard (ACGS) assessment. Rating result
120 106.6
101.9
The ASEAN Corporate Governance Scorecard 100 85.2
(ACGS) is one of the initiatives of the ASEAN 77.0
80 67.0 70.0
Capital Market Forum (ACMF) supported
60
by the Asian Development Bank (ADB), to
improve corporate governance practices in 40
ASEAN. Indonesia is one of the 6 (six) ASEAN 20
countries participating in this initiative. BCA 0
is committed to implementing aspects of the 2017 2019 2021
ACGS assessment in order to improve Good BCA Average Regional
Corporate Governance practices.
Implementation of indicators is the
• The party conducting the assessment benchmark for the assessment. BCA
The party conducting the assessment has implemented these indicators
is RSM Indonesia, which was appointed and was able to exceed the minimum
by the OJK and the Indonesia Stock implementation standards, which are
Exchange (IDX) as Indonesia’s Domestic further explained as follows:
Ranking Body (DRB). 1. Consistently implementing the
deadline for summoning the Annual
• Assessment aspects GMS to be no more than 28 days
ASEAN CG Scorecard scoring is based prior to the Annual GMS date.
on publicly accessible information. In 2. Disclosing the names of the Public
general, aspects of the ACGS assessment Accountant Firm (PAF) and Public
are based on the governance principles Accountant (PA) in the Annual
issued by the Organization for OECD. General Meeting (AGMS) summons.
3. Ensuring the attendance of all
ACGS assessment aspects include: Audit Committee members in
- Level 1 the Annual GMS, including all
1. Right of Shareholder, Committee Chairs under the Board
2. Sustainability and resilience, of Commissioners.
3. Disclosure and transparency, 4. Voting in the Annual General
4. Responbility of the Board Meeting through both physical and
- Level 2 electronic (e-voting) means via
Bonus eASY.KSEI.
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5. The minutes the Annual General including Indonesia. Subsequently, since
Meeting are published on the next 2012, IICD has used the ASEAN CG Scorecard
business day following the date of method to assess the 100 companies with
the GMS implementation. the largest market capitalization listed on
6. Disclosing the ownership of shares the Indonesia Stock Exchange. Since 2017,
by senior management. the number of issuers assessed by the IICD
7. Has implemented an internationally has increased to 200.
recognized Sustainability Report
framework. The 2024 assessment results saw BCA
8. BCA may use third party services in successfully win the "Best Overall" award
order to search for candidates for at the 15 IICD Corporate Governance
the Board of Commissioners and/ Conference & Award and Top 50 Big Cap &
or the Board of Directors. Mid Cap Issuers, which was held in Jakarta
9. Policies and completeness related on November 25, 2024.
to governance processes around
information technology issues, c. Assessment of BCA Subsidiaries
including disturbance handling, Every semester, BCA conducts an internal
cybersecurity, and disaster assessment of Good Corporate Governance
recovery. Implementation for each subsidiary company
10. BCA conducts a self-assessment using a self-assessment method that refers to
of the ACGS indicators to facilitate the Corporate Governance provisions of each
assessors in assessing and subsidiary company’s business sector.
measuring their implementation.
The ACGS self-assessment can 1) Procedure
be accessed via the BCA website GCG Team collect relevant data and information
at https://www.bca.co.id/en/ for self-assessment regarding the adequacy
tentang-bca/tataadminister/acgs. and effectiveness of Good Corporate
Governance Implementation. The assessment
• Recommendations and follow-up: is carried out by considering all aspects of
Regarding indicator D.3.4 in the ACGS, governance while adhering to the principle of
BCA was to develop a policy regarding significance. Following the collection of data,
quorum that: aspects of governance structure, process, and
A Board of Directors meeting or Board outcome can be concluded.
of Commissioners meeting is valid and
has the right to make binding decisions 2) Assessment Criteria
if at least 2⁄₃ (two thirds) of the total The criteria used in the assessment are as
number of members of the Board of stipulated in the OJK Regulation and/or OJK
Directors or Board of Commissioners Circular Letter in relation to the business of
who are currently serving are present or each Subsidiary.
represented at the meeting.
3) The party conducting the assessment
BCA has implemented Good Corporate The self-assessment is carried out by the
Governance practices in accordance Corporate Secretary and Integrated GCG
with applicable regulations and will Unit.
continue to strive to improve disclosure
of governance practices based on 3) Self-Assessment Results
ACGS. Overall, the results of BCA’s assessment
of the implementation of Corporate
2. The Indonesian Institute for Corporate Governance in BCA Subsidiaries in semesters
Directorship (IICD) Corporate Governance I and II of 2024 were “Very Compliant.”
Award.
Since 2005, IICD has conducted CG
assessments of Indonesia Stock Exchange
issuers using the OECD Corporate
Governance (CG) Scorecard method, which
is an international standard CG principle that
has been implemented in ASEAN countries
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GENERAL MEETING OF SHAREHOLDERS g. Nominates candidates for the Board of
Commissioners and/or the Board of Directors.
The General Meeting of Shareholders (GMS) is the h. Appoint a member of the Board of Directors and/
highest organ in BCA’s Corporate Governance structure, or the Board of Commissioners or more to increase
functions as a tool for shareholders to exercise their rights the number of existing members of the Board of
and obligations. The GMS has its own authority, which Directors and/or the Board of Commissioners or
is not granted to the Board of Directors or the Board of to replace members of the Board of Directors
Commissioners, within the limits specified in the laws and/ and/or the Board of Commissioners who are
or BCA’s Articles of Association. dismissed.
i. Dismiss members of the Board of Directors and
The legal basis for organizing the GMS of BCA refers to: the Board of Commissioners at any time before
1. Law No. 40 of 2007 concerning Limited Liability their ending term through GMS.
Companies. j. Receive dividend payments in accordance with
2. OJK Regulation No. 15/POJK.04/2020 concerning applicable procedures and regulations.
Planning and Holding General Meeting of Shareholders k. Execute other rights and/or authorities pursuant
of Public Limited Companies. to the BCA’s Articles of Association and
3. OJK Regulation No. 16/POJK.04/2020 concerning applicable laws and regulations, including the
the Implementation of Electronic General Meeting of right to participate in case of authorizing the
Shareholders of Public Limited Companies. increase of capital, amend BCA’s Articles of
4. BCA’s Articles of Association (can be seen on BCA Association, and transfer all or part of assets that
website, https://www.bca.co.id/en/tentang-bca/ cause the sale of the company.
tata-kelola/Akta-Perusahaan).
5. Corporate Governance Guideline (can be seen on BCA The rights, authorities and responsibilities of the
website, https://www.bca.co.id/en/tentangbca/ Shareholders are regulated in BCA’s Articles of
tata-kelola/acgs/kebijakan-gcg). Association that can be accessed directly to the
BCA website www.bca.co.id, BCA reminds to all
1. Shareholders’ Rights shareholders and/or their attorneys to attend the
The rights of the shareholders, among others: General Meeting of Shareholders held by BCA.
a. Attend the GMS.
b. Propose GMS agenda in accordance to prevailing 2. Annual GMS Financial Year 2023
regulations. In 2024, BCA held Annual GMS (AGMS) for Financial
c. Obtain published GMS material no later than 28 Year 2023. The agenda (along with the explanation of
days prior to the GMS. each agenda) discussed at the AGMS is available at
d. Receive opportunity to raise questions and/or the Environment Sustainability Governance Group -
opinions on each GMS agenda. BCA head office and has been uploaded on the BCA
e. Receive equal treatment from BCA. website on the same date as the notice for GMS was
f. Voting at the GMS. released with the following details:
AGMS:
Day/Date Thursday, 14 March 2024
Time 9.49–12.15 WIB
Venue Menara BCA Grand Indonesia,
Jl. M.H. Thamrin No. 1, Jakarta 10310
Quorum The number of share present or represented in the AGMS was 109,394,556,800 shares or equal to
88.740% of the total outstanding shares of BCA, namely 123,275,050,000 shares, therefore the
quorum as required by Article 23 Paragraph 1 letter a of the BCA’s Articles of Association has been
met.
Attendance of: Ir. Djohan Emir Setijoso President Commissioner
The Board of
Tonny Kusnadi Commissioner
Commissioners
Cyrillus Harinowo Independent Commissioner
Raden Pardede Independent Commissioner
Sumantri Slamet Independent Commissioner
All members of Board of Commissioners attend the AGMS (100%)
2024 Annual Report PT Bank Central Asia Tbk 299
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Attendance of: Jahja Setiaatmadja President Director
The Board of
Gregory Hendra Lembong Deputy President Director
Directors
Armand Wahyudi Hartono Deputy President Director
Tan Ho Hien/Subur as known as Subur Tan Director
Rudy Susanto Director
Lianawaty Suwono Director (concurrently serving as Director of
Compliance)
Santoso Director
Vera Eve Lim Director
Haryanto Tiara Budiman Director
Frengky Chandra Kusuma Director
John Kosasih Director
Antonius Widodo Mulyono Director
All members of Board of Directors attend the AGMS (100%)
Attendance of: Sumantri Slamet Chairman
Audit Committee
Fanny Sagitadewi*) Member
Rallyati A. Wibowo*) Member
All members of Audit Committee attend the AGMS (100%)
Attendance of: Cyrillus Harinowo Chairman
Risk Oversight
Endang Swasthika Wibowo*) Member
Committee
Reinhard Harianja *)
Member
Joanes Justira Gunawan*) Member
All members of Risk Oversight Committee attend the AGMS (100%)
Attendance of: Raden Pardede Chairman
Remuneration
Ir. Djohan Emir Setijoso Member
and Nomination
Committee Rudi Lim *)
Member
All members of Remuneration and Nomination Committee attend the AGMS (100%)
Attendance of: Cyrillus Harinowo Chairman
Integrated
Gustiono Kustianto*) Member
Governance
Committee Ratna Yanti*) Member
Pudjianto *)
Member
Prabowo*) Member
Sutedjo Prihatono *)
Member
Fanny Surjadi *)
Member
Hendra Iskandar Lubis*) Member
7 members of Integrated Governance Committee attend the AGMS (63.64%)
*) Attend the AGMS via video conference that allows the person concerned to see and hear the proceedings of the AGMS.
300 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
3. Procedures for Organizing AGMS d. Implementation
The AGMS at BCA are organized with the following • Shareholders or shareholders’
procedures: representatives who were entitled to attend
the AGMS are shareholders whose names are
a. Notification registered in the Register of Shareholders on
BCA submits its notification of the AGMS agenda February 13, 2024 at 16.00 WIB.
to the OJK no later than 5 (five) working days prior • In accordance with Article 23 Paragraph 1 of
to the announcement of the AGMS. BCA’s Articles of Association, the AGMS is
valid and may adopt binding resolutions if the
b. Announcement BCA’s shareholders or their representatives,
• Announcements of the AGMS are made no who representing more than ½ (one half) of
later than 14 (fourteen) days prior the notice the total number of BCA shares with valid
of AGMS. voting rights issued by BCA are present and/
• Announcement of the AGMS are submitted to or represented at the AGMS unless otherwise
BCA’s shareholders through at least at eASY. specified.
KSEI, the Indonesia Stock Exchange (IDX) • Each share issued has 1 (one) right to vote, the
website, and the BCA website. Moreover, it provisions in the BCA Articles of Association
is also published in Bisnis Indonesia and The do not divide more than one classification
Jakarta Post. of shares that can affect different voting
• Individual or more shareholders who jointly rights.
represent 1⁄₂₀₀ (one twentieth) or more of the
total number of shares and have valid voting e. Minutes of Meeting
rights issued by BCA can propose agendas • Summary minutes of the AGMS are
for the GMS. Proposals from shareholder announced to the public through the BCA
must be received no later than 7 (seven) days website within 1 (one) working day after
prior the notice of GMS and will be included the AGMS are held and published in Bisnis
in the agenda of the GMS if they meet the Indonesia and The Jakarta Post and the
provisions of Article 21 Paragraph 4 of the IDX website no later than 2 (two) working
BCA Articles of Association and Article 16 of days after the AGMS are held. Moreover,
the OJK Regulation No. 15/POJK.04/2020 the summary minutes of the AGMS are
dated April 21, 2020 on Planning and Holding announced through eASY.KSEI.
General Meeting of Shareholders of Public • The proof of announcements of the summary
Limited Companies. minutes of the AGMS are submitted to the
OJK no later than 2 (two) working days after
c. Notice of GMS the announcement is made.
• The time period for the notice of AGMS is • The minutes of the AGMS are submitted to
28 (twenty-eight) days prior to the day of OJK and IDX no later than 30 (thirty) days after
AGMS. BCA also submitted explanation the AGMS are held. A copy of the minutes
for each agenda that requires shareholder can be accessed and/or downloaded by the
approval. public on the BCA website in the Corporate
• Notice of the AGMS shall be made in at Governance section, https://www.bca.
least at eASY.KSEI where shareholders co.id/en/tentang-bca/tata-kelola/Akta-
can authorise electonically (e-Proxy), the Perusahaan.
Indonesia Stock Exchange (IDX) website, and
the BCA website. Moreover, the notice of
AGMS are also published in Bisnis Indonesia
and The Jakarta Post.
• To facilitate shareholders, proxy forms can
be downloaded on the BCA website in the
Corporate Governance section or can be
obtained from PT Raya Saham Registra,
BCA’s Securities Administration Bureau,
on working days and hours at Plaza Sentral
Building 2nd Floor Jalan Jendral Sudirman
Kavling 47–48, Jakarta, 12930.
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
AGMS Procedures
Activity AGMS
Notification Notified to OJK by sending letter No. 0106/DIR/2024 dated 24 January 2024.
Announcement • Published the AGMS Announcement through daily newspaper namely Bisnis Indonesia and The
Jakarta Post, eASY.KSEI, and BCA website on January 31, 2024.
• Proof of the AGMS Announcement was submitted by sending hardcopy and e-reporting to OJK and
IDX on January 31, 2024.
Notice of GMS • Published the Notice of AGMS through daily newspaper namely Bisnis Indonesia and The Jakarta Post,
eASY.KSEI, and BCA website on February 15, 2024.
• Proof of the Notice of AGMS was submitted by sending hardcopy and e-reporting to OJK and IDX on
February 15, 2024.
• At the time of the Notice of AGMS, BCA also submitted the hardcopy and softcopy 2023 BCA Annual
Report to the OJK. In addition, the 2023 BCA Annual Report is also available on the BCA website that
can be accessed by stakeholders (https://www.bca.co.id/en/tentang-bca/hubungan-investor/
laporanpresentasi/laporan-tahunan).
Implementation Thursday, March 14, 2024
Summary of • Published through BCA website, KSEI website and daily newspapers, Bisnis Indonesia and The Jakarta
Minutes of Post on March 15, 2024.
Meeting • Proof of publication was submitted by sending hardcopy and e-reporting to OJK and IDX on March 18,
2024.
Minutes of Meeting • Published through BCA website on April 5, 2024.
• Minutes of meeting was submitted by sending hardcopy and e-reporting to OJK and IDX on April 5,
2024.
4. Attendance of Management, Committees, and completed with the shareholder’s
Shareholders name, the number of shares owned/
A further description on the attendance of the represented, the email address, as well
management, committees, and shareholders in the as the questions and/or opinions to be
AGMS is listed on page 299-300 of this Annual Report. asked or expressed; and
ii. The shareholders or their proxies can
5. Chairperson of AGMS submit the questions and/or opinions
The GMS was chaired by Mr. Ir. Djohan Emir Setijoso by raising their hands and submitting
as the President Commissioner, in accordance the form to the Meeting helpers when
with Article 22 Paragraph 1 (a) of BCA’s Articles of the Chairperson of the Meeting gives
Association. all the shareholders or their proxies the
opportunity to do so before voting on
6. Rules of Conduct of GMS and Procedure for the relevant agenda item takes place.
Vote Count b) The shareholders or their proxies that
BCA also provides information related to voting electronically attend the Meeting may ask
procedures at the AGMS in the rules of the meeting questions and/or express opinions, subject
which are always read out before starting the AGMS. to the following provisions:
i. The questions and/or opinions are
Shareholders or their representatives who attend submitted in writing through the chat
the AGMS (“the Meeting”) are abide to observe the feature in the “Electronic Opinions”
following rules: column on the E-Meeting Hall screen of
1) Procedure for bringing up matters relating to the the eASY.KSEI application as long as the
Meeting agenda: “General Meeting Flow Text” column is
a) The shareholders or their proxies that still displaying “Discussion started for
physically attend the Meeting may ask agenda item no. [ ]”. BCA will disable the
questions and/or express opinions, subject “raise hand” and “allow to talk” features
to the following provisions: in the Zoom webinar on the AKSes
i. The shareholders or their proxies facility.
submit the questions and/or opinions ii. When asking a question, a shareholder
in writing by completing a form, which or their proxy must provide information
will be provided to all the shareholders on the shareholder’s name, the number
or their proxies before they enter the of shares owned/represented, and the
Meeting room, and the form must be shareholder’s email address.
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
c) Only the shareholders or their legitimate of Public Limited Companies and BCA’s Articles
proxies that physically or electronically of Association, namely as follows:
attend the Meeting are entitled to ask a) The Meeting resolutions shall be adopted by
questions and/or express opinions in means of deliberation for consensus;
writing on the Meeting agenda item under b) If the Meeting cannot adopt a resolution by
discussion. deliberation for consensus, the resolution
d) BCA has the right to not answer any question will be adopted by voting. During the
that is raised without the shareholder’s voting, the shareholder or the shareholder’s
name and the number of shares owned/ proxy will have the right to cast their votes
represented. as AGREE, DISAGREE, or ABSTAIN on each
e) The questions asked and/or opinions meeting agenda item of BCA;
expressed must have a direct bearing on the c) Any resolution on a proposal put forward
Meeting agenda item under discussion. at the Meeting shall be valid if approved by
f) To give a fair opportunity to all shareholders, more than ½ (one-half) of the total votes
each shareholder or the shareholder’s proxy present and/or represented at the Meeting;
that physically or electronically attends d) Under the provisions of Article 47 of the
the Meeting may only ask and/or express a OJK Regulation on GMS, any shareholders
maximum of 3 (three) questions/opinions. that ABSTAIN shall be deemed to cast the
g) If several questions are related or about the same votes as the majority votes cast by the
same thing, the questions will be answered shareholders at the Meeting.
together. 3) Voting by the shareholders or their proxies that
h) BCA will do its best to answer the questions physically attend the Meeting shall be done under
in the order in which they are received. the following procedure:
i) To ensure the Meeting runs more effectively a) The Chairperson of the Meeting will ask the
and efficiently, the Chairperson of the shareholders or their proxies that DISAGREE
Meeting has the right to decide whether or ABSTAIN on the relevant proposal to raise
the questions will be answered immediately their hands and submit their ballots to the
(orally) or in writing. Meeting helpers;
j) To ensure the Meeting runs more effectively b) If a shareholder grants power to a proxy
and efficiently, the duration of the question- but casts votes through eASY.KSEI, the
and-answer session for each agenda item is votes that will be counted are those cast
limited to a maximum of 10 (ten) minutes. by the shareholder through eASY.KSEI, and
k) The questions that have not been answered therefore the shareholder’s proxy need not
directly (orally) will be answered in writing raise their hand and submit the ballot to the
within 3 (three) business days after the Meeting helpers;
date of the Meeting. BCA will send the c) The shareholders or the shareholders’
response to the email address provided by proxies that do not raise their hands to submit
the shareholder or their proxy in the form the ballots containing votes of DISAGREE
provided for submitting questions or through or ABSTAIN on the relevant proposal
the chat feature in the “Electronic Opinions” shall be deemed to have approved the
column on the E-Meeting Hall screen of the relevant proposal without the Chairperson
eASY.KSEI application. If the shareholder of the Meeting having to ask each of the
or their proxy does not provide an email shareholders or the shareholders’ proxies to
address, BCA ‘s response will be sent by mail raise their hands to indicate agreement;
to the shareholder’s address as recorded in d) For the vote count, the Meeting helpers will
BCA ‘s Register of Shareholders. scan the barcodes on the ballots containing
2) Procedure for Voting and Vote Count: votes of DISAGREE and ABSTAIN, which have
The vote count will be carried out according been submitted to the Meeting helpers;
to the provisions of the Company Law, OJK e) The shareholders or the shareholders’ proxies
Regulation No. 15/POJK.04/2020 on the Planning that have registered their attendance but
and holding General Meetings of Shareholders leave the Meeting room without reporting
of Public Limited Companies ("OJK Regulation to the registration staff before the close of
on GMS"), Regulation of the Financial Services the meeting will be deemed to be present at
Authority No. 16/POJK.04/2020 on the Conduct the Meeting and approve the proposals put
of Electronic General Meetings of Shareholders forward at the Meeting.
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
4) Voting by the shareholders or their proxies that e) The shareholders that have cast their
electronically attend the Meeting through the votes before the Meeting starts and the
eASY.KSEI application shall be done under the shareholders or their proxies that have
following procedure: registered through the eASY.KSEI application
a) The voting process takes place through the on the date of the Meeting will be deemed
eASY.KSEI application on the E-Meeting Hall to have validly attended the Meeting even
menu, Live Broadcasting submenu; though they do not follow the Meeting until
b) The shareholders that are present or have the end for any reason;
granted e-proxy in the Meeting through f) If the shareholder or their proxy fails to cast
eASY.KSEI but have not cast their votes will any vote until the Meeting status shown in
have the opportunity to cast their votes the 'General Meeting Flow Text' column
during the voting period determined by BCA changes to "Voting for agenda item no [ ] has
through the E-Meeting Hall screen in the ended", the shareholder or their proxy will be
eASY.KSEI application; deemed to ABSTAIN on the relevant Meeting
c) During the electronic voting process, the agenda item.
status “Voting for agenda item no [ ] has 5) Subsequently, the votes cast by the shareholders
started” will appear in the General Meeting or their proxies either physically or electronically
Flow Text' column; will be counted by BCA’s Securities Administration
d) The time allocated for direct e-voting Bureau and then verified by a Notary as an
through the eASY.KSEI application is a independent public official.
maximum of 2 (two) minutes; 6) The Chairperson of the Meeting will ask the
Notary to report the outcome of the vote count
for each agenda item of the Meeting.
7. 2024 AGMS Decision and its Realizations
The decision of the 2024 AGMS and its realizations are as follows:
No. Agenda 2024 AGMS Decision Realization
1. First Agenda I. Approving the Annual Report, including: Realized.
Approval of the Annual 1. the Financial Statements, which include the Company’s Balance
Report including the Sheet and Profit or Loss Statement for the financial year ended 31
Company’s Financial December 2023, audited by the KAP Rintis, Jumadi, Rianto & Rekan
Statements and the Board (previously known as KAP Tanudiredja, Wibisana, Rintis & Rekan)
of Commissioners’ Report - a member firm of the PwC global network (hereinafter referred
on its Supervisory Duties to as “PwC Indonesia”), as evident from its report 00017/2.1025/
for the financial year AU.1/07/0229-1/1/I/2024 dated 24 January 2024 with unmodified
ended 31 December 2023 opinion, as contained in the 2023 Annual Report; and
and grant of release and 2. the Board of Commissioners’ Report on its Supervisory Duties, for
discharge of liability (acquit the financial year ended 31 December 2023, as contained in the
et decharge) to all members 2023 Annual Report.
of the Board of Directors for
their management actions II. Granting a release and discharge of liability (acquit et decharge) to
and to all members of the all members of the Board of Directors for their actions related to the
Board of Commissioners management of the Company and the Board of Commissioners of the
of the Company for their Company for their actions related to the supervision of the Company
supervisory actions during during the financial year ended 31 December 2023, to the extent that
the financial year ended 31 such actions were reflected in the Company’s Annual Report and
December 2023. Financial Statements for the financial year ended 31 December 2023
and the relevant supporting documents thereof.
Voting Results:
Agree Disagree Abstain Questions
108,702,268,987 256,511,645 435,776,168 5
(99.367%) (0.235%) (0.398%)
304 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
No. Agenda 2024 AGMS Decision Realization
2. Second Agenda I. According to the Company’s Balance Sheet and Profit or Loss Realized.
Appropriation of the Statement for the financial year ended 31 December 2023, audited by
Company’s Net Profit for PwC Indonesia, the Company’s net profits for the financial year ended
the financial year ended 31 31 December 2023 amounted to Rp48,639,121,868,737 (forty-eight
December 2023. trillion six hundred thirty-nine billion one hundred twenty-one million
eight hundred sixty-eight thousand seven hundred thirty-seven rupiah)
(“Net Profits for 2023”).
II. Appropriating the Company’s Net Profits for 2023 as follows:
1. An amount of Rp486,391,218,687 (four hundred eighty-six billion
three hundred ninety-one million two hundred eighteen thousand six
hundred eightyseven rupiah) will be appropriated for reserve fund.
2. An amount of Rp33,284,263,500,000 (thirty three trillion two
hundred eighty four billion two hundred sixty three million five
hundred thousand rupiah) or Rp270 (two hundred seventy rupiah)
per share will be distributed as cash dividends for the financial
year ended 31 December 2023 to the shareholders entitled to
receive cash dividends; such amount includes the interim dividends
of Rp5,239,189,625,000 (five trillion two hundred thirty-nine
billion one hundred eighty-nine million six hundred twenty-
five thousand rupiah) or equal to Rp42.50 (fourty-two rupiah
fifty cents) per share already paid out by the Company on 20
December 2023; accordingly, the remaining amount of dividends
is Rp28,045,073,875,000 (twenty-eight trillion fourty-five billion
seventy-three million eight hundred seventy-five thousand rupiah)
or equal to Rp227.50 (two hundred twenty seven rupiah fifty cents)
per share.
As regards such dividend payments, the following terms and
conditions shall apply:
(i) the remaining amount of dividends for the financial year 2023
will be paid out for each share issued by the Company as
recorded in the Company’s Register of Shareholders as at the
record date, which will be determined by the Board of Directors;
(ii) as regards the payments on the remaining dividends for the
financial year 2023, the Board of Directors shall withhold tax on
such dividends in accordance with the tax regulations in force;
(iii) the Board of Directors is granted the power and authority to
stipulate any matters concerning the payment of the remaining
dividends for the financial year 2023, including (but not limited
to):
(aa) stipulating the record date as referred to in item (i) to
determine the shareholders of the Company eligible to
receive payments on the remaining dividends for the
financial year 2023; and
(bb) stipulating the date of payment of the remaining dividends
for the financial year 2023 and any other technical matters
with due observance of the regulations of the Indonesia
Stock Exchange where the Company’s shares are listed.
3. The remaining of the Net Profits for 2023 that has not been
appropriated for any particular use will be determined as retained
earnings.
III. Stating that the grant of power and authority under point II item 2 of this
resolution will be effective as of the date on which the proposal in this
agenda item is approved by the Meeting.
Voting Results:
Agree Disagree Abstain Questions
106,980,104,967 2,143,757,446 270,694,387 0
(97.793%) (1.960%) (0.247%)
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
No. Agenda 2024 AGMS Decision Realization
3. Third Agenda I. Granting power and authority to Board of Commissioners of the Realized.
Determination of the amount Company to determine the type and/or amount of salary, benefits and/
of salary or honorarium and or facilities for the members of the Board of Directors of the Company
benefits for the financial serving the Company over the financial year 2024, with due regard
year 2024 as well as bonus to the recommendations from the Remuneration and Nomination
payment (tantiem) for the Committee.
financial year 2023 payable
to the members of the Board II. Granting power and authority to PT DWIMURIA INVESTAMA ANDALAN
of Directors and the Board as the current majority shareholder of the Company, to determine the
of Commissioners of the type and/or amount of honorarium, benefits and/or facilities for the
Company. members of the Board of Commissioners serving the Company over
the financial year 2024, with due regard to the recommendations
from the Board of Commissioners, which will take into account the
recommendations from the Remuneration and Nomination Committee.
III. Upon considering the performance of the members of the Board of
Commissioners and the Board of Directors of the Company who served
in and over the financial year 2023, and after receiving inputs from the
Board of Commissioners, which also took into account the inputs from
the Company’s Board of Directors and the recommendations from the
Remuneration and Nomination Committee, proposing that the Meeting
determine a maximum amount of Rp765,000,000,000 (seven hundred
sixty-five billion rupiah)for the bonus payments (tantieme) payable to
the members of the Board of Commissioners and the Board of Directors
of the Company who served in and over the financial year 2023.
In relation to such bonus payments (tantieme), we proposed that PT
DWIMURIA INVESTAMA ANDALAN, as the current majority shareholder
of the Company, be granted the power and authority to determine the
amount of bonus payments (tantieme) and determine the distribution
thereof to each member of the Board of Commissioners and the Board
of Directors of the Company who served in and over the financial year
2023, including all matters related to such bonus payments.
IV. The amount of salary or honorarium, benefits, and/or facilities to be
paid by the Company to the members of the Board of Directors and the
Board of Commissioners serving the Company in and over the financial
year 2024 and the amount of bonus payments (tantieme) to be paid by
the Company to the members of the Board of Directors and the Board
of Commissioners who served in and over the financial year 2023 will be
set out in the Annual Report for the financial year 2024.
V. Stating that the grant of power and authority under points I, II, and III of
this resolution will be effective as of the date on which the proposal in
this agenda item is approved by the Meeting.
Voting Results:
Agree Disagree Abstain Questions
99,658,226,256 9,463,827,405 272,503,139 1
(91.100%) (8.651%) (0.249%)
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
No. Agenda 2024 AGMS Decision Realization
4. Fourth Agenda I. Appointing the PwC Indonesia as the Public Accounting Firm registered Realized.
Appointment of the with the Financial Services Authority to audit/examine the books and
Registered Public records of the Company for the financial year ended 31 December
Accounting Firm (including 2024.
the Registered Public
Accountant practicing II. Appointing Mrs. Lucy Luciana Suhenda, a Public Accountant registered
through such Registered with the Financial Services Authority and practicing through the PwC
Public Accounting Firm) to Indonesia to audit/examine the books and records of the Company for
audit the Company’s books the financial year ended 31 December 2024.
and accounts for the financial III. Granting power and authority to the Board of Commissioners to:
year ended 31 December a. appoint another Public Accounting Firm if the PwC Indonesia for any
2024. reason whatsoever is unable to duly finish auditing/examining the
books and records of the Company for the financial year ended 31
December 2024;
b. appoint another Public Accountant practicing thorugh the PwC
Indonesia if Mrs. Lucy Luciana Suhenda for any reason whatsoever
is unable to duly finish auditing/examining the books and records of
the Company for the financial year ended 31 December 2024; and
c. take any other actions deemed necessary in relation to the
appointment and/or replacement of the Public Accounting Firm
and/or Public Accountant registered with the Financial Services
Authority including, without limitation, determine the amount of fee
and other requirements in relation to the appointment.
with due regard for the recommendations from the Audit Committee
and the prevailing laws and regulations.
IV. Stating that the grant of power and authority under point III of this
resolution will be effective as of the date on which the proposal in this
agenda item is approved by the Meeting.
Voting Results:
Agree Disagree Abstain Questions
109,055,546,936 86,798,877 252,210,987 0
(99.690%) (0.079%) (0.231%)
5. Fifth Agenda I. Granting power and authority to the Company’s Board of Directors Realized.
Grant of powers and subject to the approval of the Board of Commissioners, to the extent
authority to the Board of the financial condition of the Company permits and with observance
Directors to pay out interim of the prevailing laws and regulations, to determine and pay out interim
dividends for the financial dividends for the financial year ended 31 December 2024, provided that
year ended 31 December to ensure compliance with Article 72 the Company Law, if the interim
2024. dividends are to be distributed, then the distribution must be made to
the shareholders before the end of the financial year 2023, including
to determine the form, amount and method of payment of such interim
dividends.
II. Stating that the grant of power and authority under point I of this
resolution will be effective as of the date on which the proposal in this
agenda item is approved by the Meeting.
Voting Results:
Agree Disagree Abstain Questions
106,980,105,067 2,143,757,446 270,694,287 0
(97.793%) (1.960%) (0.247%)
6. Sixth Agenda Approving the amendments to the Company's Recovery Plan, as Realized.
Approval of the Revised incorporated in the Recovery Plan of PT Bank Central Asia Tbk 2024, which
Recovery Plan of the has been recorded in the supervisory administrative system of the Financial
Company. Services Authority, as evident in the letter from the Financial Services
Authority Number S-6/PB.3/2023 dated 21 December 2023 on the Update
of the Recovery Plan of PT Bank Central Asia Tbk 2024.
Voting Results:
Agree Disagree Abstain Questions
106,925,118,367 2,217,111,146 252,327,287 2
(97.743%) (2.027%) (0.230%)
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Independent Parties who Conducts Counting and/or Validation of the Votes in the AGMS
The parties that count and/or validate the votes at the 2024 AGMS was PT Raya Saham Registra as BCA’s Securities
Administration Bureau and BCA has appointed independent parties, namely Christina Dwi Utami, S.H., M.Hum., M.Kn.,
as the Public Notary who verified the vote count.
8. 2023 AGMS Decision and its Realizations
The decision of the 2023 AGMS and its realizations are as follows:
No. Agenda 2023 AGMS Decision Realization
1. First Agenda I. Approving the Annual Report, including: Realized.
Approval of the Annual 1. the Financial Statements, which include the Company’s Balance
Report including the Sheet and Profit or Loss Statement for the financial year ended
Company’s Financial 31 December 2022, audited by the Public Accounting Firm of
Statements and the Board Tanudiredja, Wibisana, Rintis & Rekan (a member firm of PwC global
of Commissioners’ Report network), as evident from its report 00017/2.1025/AU.1/07/1124-
on its Supervisory Duties 3/1/I/2023 dated 25 January 2023 with unmodified opinion, as
for the financial year contained in the 2022 Annual Report; and
ended 31 December 2022 2. the Board of Commissioners’ Report on its Supervisory Duties, for
and grant of release and the financial year ended 31 December 2022, as contained in the
discharge of liability (acquit 2022 Annual Report.
et decharge) to all members
of the Board of Directors for II. Granting a release and discharge of liability (acquit et decharge) to
their management actions all members of the Board of Directors for their actions related to the
and to all members of the management of the Company and the Board of Commissioners of the
Board of Commissioners Company for their actions related to the supervision of the Company
of the Company for their during the financial year ended 31 December 2022, to the extent that
supervisory actions during such actions were reflected in the Company’s Annual Report and
the financial year ended 31 Financial Statements for the financial year ended 31 December 2022
December 2022; and the relevant supporting documents thereof.
Voting Results:
Agree Disagree Abstain Questions
107,576,773,734 20,991,185 487,265,525 1
(99.529%) (0.020%) (0.451%)
308 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
No. Agenda 2023 AGMS Decision Realization
2. Second Agenda I. Determining that according to the Company’s Balance Sheet and Profit Realized.
Appropriation of the or Loss Statement for the financial year ended 31 December 2022,
Company’s Net Profit for audited by the Public Accounting Firm of Tanudiredja, Wibisana, Rintis
the financial year ended 31 & Rekan (a member firm of PwC global network), the Company’s net
December 2022; profits for the financial year ended 31 December 2022 amounted to
Rp40,735,722,526,481 (forty trillion seven hundred thirty-five billion
seven hundred twenty-two million five hundred twenty-six thousand
four hundred eighty-one rupiah) (“Net Profits for 2022”).
II. Appropriating the Company’s Net Profits for 2022 as follows:
1. An amount of Rp407,357,225,265 (four hundred seven billion three
hundred fiftyseven million two hundred twenty-five thousand two
hundred sixty-five rupiah) will be appropriated for reserve fund.
2. An amount of Rp25,271,385,250,000 (twenty five trillion two
hundred seventy-one billion three hundred eighty-five million two
hundred fifty thousand rupiah) or Rp205 (two hundred five rupiah)
per share will be distributed as cash dividends for the financial year
ended 31 December 2022 to the shareholders entitled to receive
cash dividends; such amount includes the interim dividends of
Rp4,314,626,750,000 (four trillion three hundred fourteen billion six
hundred twenty-six million seven hundred fifty thousand rupiah)
or equal to Rp35 (thirty-five rupiah) per share already paid out by
the Company on 20 December 2022 accordingly, the remaining
amount of dividends is Rp20,956,758,500,000 (twenty trillion nine
hundred fifty-six billion seven hundred fiftyeight million five hundred
thousand rupiah) or equal to Rp170 (one hundred seventy rupiah) per
share.
As regards such dividend payments, the following terms and
conditions shall apply:
(i) the remaining amount of dividends for the financial year 2022
will be paid out for each share issued by the Company as
recorded in the Company’s Register of Shareholders as at the
record date, which will be determined by the Board of Directors;
(ii) as regards the payments on the remaining dividends for the
financial year 2022, the Board of Directors shall withhold tax on
such dividends in accordance with the tax regulations in force;
(iii) the Board of Directors is granted the power and authority to
stipulate any matters concerning the payment of the remaining
dividends for the financial year 2022, including (but not limited
to):
(aa) stipulating the record date as referred to in item (i) to
determine the shareholders of the Company eligible to
receive payments on the remaining dividends for the
financial year 2022; and
(bb) stipulating the date of payment of the remaining dividends
for the financial year 2022 and any other technical matters
with due observance of the regulations of the Stock
Exchange where the Company’s shares are listed;
3. The remaining of the Net Profits for 2022 that has not been
appropriated for any particular use will be determined as retained
earnings.
III. Stating that the grant of power and authority under point II item 2 of this
resolution will be effective as of the date on which the proposal in this
agenda item is approved by the Meeting.
Voting Results:
Agree Disagree Abstain Questions
107,808,270,849 300 276,759,295 0
(99.743%) (0.001%) (0.256%)
2024 Annual Report PT Bank Central Asia Tbk 309
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
No. Agenda 2023 AGMS Decision Realization
3. Third Agenda I. Company serving the Company over the financial year 2023, with due Realized.
Determination of the amount regard to the recommendations from the Remuneration and Nomination
of salary or honorarium and Committee.
benefits for the financial
year 2023 as well as bonus II. Granting power and authority to PT DWIMURIA INVESTAMA ANDALAN
payment (tantiem) for the as the current majority shareholder of the Company, to determine the
financial year 2022 payable type and/or amount of honorarium, benefits and/or facilities for the
to the members of the Board members of the Board of Commissioners serving the Company over
of Directors and the Board the financial year 2023, with due regard to the recommendations
of Commissioners of the from the Board of Commissioners, which will take into account the
Company; recommendations from the Remuneration and Nomination Committee.
III. Upon considering the performance of the members of the Board of
Commissioners and the Board of Directors of the Company who served
in and over the financial year 2022, and after receiving inputs from the
Board of Commissioners, which also took into account the inputs from
the Company’s Board of Directors and the recommendations from the
Remuneration and Nomination Committee, proposing that the Meeting
determine a maximum amount of Rp670,000,000,000 (six hundred
seventy billion rupiah) for the bonus payments (tantieme) payable to the
members of the Board of Commissioners and the Board of Directors of
the Company who served in and over the financial year 2022.
In relation to such bonus payments (tantieme), we proposed that PT
DWIMURIA INVESTAMA ANDALAN, as the current majority shareholder
of the Company, be granted the power and authority to determine the
amount of bonus payments (tantieme) and determine the distribution
thereof to each member of the Board of Commissioners and the Board
of Directors of the Company who served in and over the financial year
2022, including all matters related to such bonus payments.
IV. The amount of salary or honorarium, benefits, and/or facilities to be
paid by the Company to the members of the Board of Directors and the
Board of Commissioners serving the Company in and over the financial
year 2023 and the amount of bonus payments (tantieme) to be paid by
the Company to the members of the Board of Directors and the Board
of Commissioners who served in and over the financial year 2022 will be
set out in the Annual Report for the financial year 2023.
V. Stating that the grant of power and authority under points I, II, and III of
this resolution will be effective as of the date on which the proposal in
this agenda item is approved by the Meeting.
Voting Results:
Agree Disagree Abstain Questions
100,967,432,868 6,806,857,896 310,739,680 0
(93.415%) (6.298%) (0.287%)
310 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
No. Agenda 2023 AGMS Decision Realization
4. Fourth Agenda I. Appointing the Public Accounting Firm of Tanudiredja, Wibisana, Rintis & Realized.
Appointment of the Rekan (a member firm of PwC global network) as the Public Accounting
Registered Public Firm registered with the Financial Services Authority to audit/examine
Accounting Firm (including the books and records of the Company for the financial year ended 31
the Registered Public December 2023.
Accountant practicing
through such Registered II. Appointing Mrs. Lucy Luciana Suhenda, a Public Accountant registered
Public Accounting Firm) to with the Financial Services Authority and practicing through the Public
audit the Company’s books Accounting Firm of Tanudiredja, Wibisana, Rintis & Rekan (a member
and accounts for the financial firm of PwC global network) to audit/examine the books and records of
year ended 31 December the Company for the financial year ended 31 December 2023.
2023;
III. Granting power and authority to the Board of Commissioners to:
a. Appoint another Public Accounting Firm if the Public Accounting
Firm of Tanudiredja, Wibisana, Rintis & Rekan (a member firm of PwC
global network) for any reason whatsoever is unable to duly finish
auditing/examining the books and records of the Company for the
financial year ended 31 December 2023;
b. Appoint another Public Accountant practicing thorugh the Public
Accounting Firm of Tanudiredja, Wibisana, Rintis & Rekan (a member
firm of PwC global network) if Mrs. Lucy Luciana Suhenda for any
reason whatsoever is unable to duly finish auditing/examining the
books and records of the Company for the financial year ended 31
December 2023; and
c. Take any other actions deemed necessary in relation to the
appointment and/or replacement of the Public Accounting Firm
and/or Public Accountant registered with the Financial Services
Authority including, without limitation, determine the amount of
fee and other requirements in relation to the appointment of such
Registered Public Accounting Firm and Public Accountant registered
with the Financial Services Authority;
with due regard for the recommendations from the Audit Committee
and the prevailing laws and regulations.
IV. Stating that the grant of power and authority under point III of this
resolution will be effective as of the date on which the proposal in this
agenda item is approved by the Meeting.
Voting Results:
Agree Disagree Abstain Questions
107,769,928,164 38,333,485 276,768,795 0
(99.708%) (0.036%) (0.256%)
5. Fifth Agenda I. Granting power and authority to the Company’s Board of Directors Realized.
Grant of powers and subject to the approval of the Board of Commissioners, to the extent
authority to the Board of the financial condition of the Company permits and with observance
Directors to pay out interim of the prevailing laws and regulations, to determine and pay out interim
dividends for the financial dividends for the financial year ended 31 December 2023, provided that
year ended 31 December to ensure compliance with Article 72 the Company Law, if the interim
2023; dividends are to be distributed, then the distribution must be made to
the shareholders before the end of the financial year 2023, including
to determine the form, amount and method of payment of such interim
dividends.
II. Stating that the grant of power and authority under point I of this
resolution will be effective as of the date on which the proposal in this
agenda item is approved by the Meeting.
Voting Results:
Agree Disagree Abstain Questions
107,808,270,249 300 276,759,895 0
(99.743%) (0.001%) (0.256%)
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
No. Agenda 2023 AGMS Decision Realization
6. Sixth Agenda Approving the amendments to the Company’s Recovery Plan, as Realized.
Approval of the Revised incorporated in the Recovery Plan of PT Bank Central Asia Tbk 2023, which
Recovery Plan of the has been recorded in the supervisory administrative system of the Financial
Company; Services Authority, as evident in the letter from the Financial Services
Authority Number S-69/PB.3/2022 dated 29 December 2022 on the Update
of the Recovery Plan of PT Bank Central Asia Tbk 2023.
Voting Results:
Agree Disagree Abstain Questions
107,732,539,564 68,924,685 283,566,195 0
(99.674%) (0.064%) (0.262%)
7. Seventh Agenda I. Approving Resolution Plan of PT Bank Central Asia Tbk 2022 that has Realized.
Approval of the Resolution been submitted by the Company to Indonesia Deposit Insurance
Plan of the Company. Corporation (LPS) on 23 November 2022.
II. Granting power and authority to the Company’s Board of Directors,
subject to the approval of the Board of Commissioners, to take any and
all actions deemed necessary in relation to the revision of Resolution
Plan of PT Bank Central Asia Tbk 2022 in accordance with the request of
LPS with due observance of the prevailing laws and regulations.
II. Stating that the grant of power and authority under point II of this resolution
will be effective as of the date on which the proposal in this agenda item is
approved by the Meeting.
Voting Results:
Agree Disagree Abstain Questions
107,727,135,419 68,924,685 288,970,340 1
(99.669%) (0.064%) (0.267%)
Independent Parties who Conducts Counting and/or • Payment of cash dividends for financial year 2023
Validation of the Votes in the AGMS was paid on April 4, 2024 and interim dividend
The parties that count and/or validate the votes payments for financial year 2024 were made on
at the 2023 AGMS was PT Raya Saham Registra as December 11, 2024.
BCA’s Securities Administration Bureau and BCA has
appointed independent parties, namely Christina Dwi • BCA published the announcement and procedure
Utami, S.H., M.Hum., M.Kn., as the Public Notary who for payment of cash dividends 2023 on March 18,
verified the vote count. 2024 in daily newspaper namely Bisnis Indonesia
and The Jakarta Post. The announcement and
9. Realization of Dividend Payment procedure for payment of the 2024 interim
• Information related to the procedure of dividend was published on November 12, 2024
proposal and dividend distribution or payment, on the Indonesia Stock Exchange and BCA’s
shareholders who are entitled to receive website.
dividends, and related tax provisions are
regulated in the BCA Dividend Distribution • The historical amount of dividend distribution can
Policy. The main policy can be downloaded on be seen on page 21 of this Annual Report.
the BCA website (https://www.bca.co.id/en/
tentang-bca/tata-kelola/acgs/kebijakan-gcg) 10. Statements Regarding Unrealized GMS
in the Corporate Governance - Corporate Action Resolutions
-Dividend section. BCA has implemented all recommendations from the
Annual GMS decision dated March 16, 2023, and the
• Dividend payments (interim or final/annual) Annual GMS decision dated March 14, 2024, therefore,
were made by BCA punctually and based on the there is no information pertaining to any reason with
principle of fairness. All shareholders are treated regards to decisions that has not been realized.
equally and dividends are paid no later than 30
(thirty) days after the announcement of an interim
dividend and/or GMS approving the distribution
of the final dividend.
312 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
INFORMATION ON ULTIMATE/CONTROLLING SHAREHOLDER
Since November 11, 2016, BCA’s ultimate/controlling shareholder has been PT Dwimuria Investama Andalan. OJK has
approved the changes of BCA’s Controlling Shareholder through the letter No. KEP- 15/D.03/2017 dated February 1,
2017 concerning the Results of Fit and Proper Test of PT Dwimuria Investama Andalan as a Prospective BCA’s Controlling
Shareholder.
In connection with the changes of the controlling shareholder, there was no change in control of BCA, whereby the current
BCA’s ultimate Controlling Shareholders remained Robert Budi Hartono and Bambang Hartono.
The information scheme or diagram regarding the BCA’s Ultimate/Controlling shareholder, both directly and indirectly up to
the individual shareholders, is presented as follows:
The information scheme/diagram regarding the BCA’s Ultimate/Controlling Shareholder
Robert Budi Hartono Bambang Hartono
(Ultimate Shareholder) (Ultimate Shareholder)
51.00% 49.00%
PT Dwimuria Investama Public
Andalan
54.94% 45.06%*)
Note:
Controlling
Controlling Line
*) In the portion of shares owned by public shareholders as of 31 December
2024, some 2.46% are held by parties affiliated to PT Dwimuria
Investama Andalan. In addition, Commissioners and Directors own 0.14%
of BCA shares
Information regarding the BCA’s Ultimate/Controlling shareholder can be seen on the BCA’s website (www.bca.co.id) in the
investor relations section.
2024 Annual Report PT Bank Central Asia Tbk 313
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
BOARD OF COMMISSIONERS 2. Duties and Responsibilities of the Board of
Commissioners
According to Law No. 40 of 2007 concerning Limited The duties and responsibilities of the BCA Board of
Liability Companies, the Board of Commissioners is an Commissioners include the following:
organ of the Company with the duties and responsibilities a. Supervise BCA management policies and the
of carrying out general and/or specific supervision in general management activities for the interest of
accordance with the Articles of Association, providing BCA in accordance with the goals and objectives
advice to the Board of Directors, and ensuring the of the BCA’s Articles of Association, including:
implementation of governance principles in all business - The Board of Commissioners provides
activities at all levels or stages of the organization. views, input, and approval on the work plan
and annual budget that have been prepared
1. Board of Commissioners Guidelines and Work and submitted by the Board of Directors in
Rules (Board of Commissioners Charter) accordance with applicable regulations.
The BCA Board of Commissioners is guided by - The Board of Commissioners supervises and
the Board of Commissioners Charter in carrying provides input and is also responsible for
out its duties and responsibilities, so that each the Annual Report and Sustainability Report
member of the Board of Commissioners can carry prepared by the Board of Directors.
out supervisory functions effectively, efficiently, - The Board of Commissioners provides input
accountably, transparently, and independently. This and consideration for the Board of Directors’
charter is evaluated and updated on a regular basis in proposal regarding the distribution of
accordance with applicable laws and regulations. dividends before seeking approval at the
General Meeting of Shareholders.
The Board of Commissioners Charter was updated - The Board of Commissioners held a meeting
on 2024, as stated in the BCA Corporate Governance to provide approval for the interim dividend
Guidelines and can be accessed by the public through proposed by the Board of Directors in
BCA website in the Corporate Governance Section accordance with the provisions of the
https://www.bca.co.id/en/tentang-bca/tata-kelola/ applicable articles of association.
struktur-organisasi. - The Board of Commissioners supervises
credit distribution by granting approval for
In general, the BCA Board of Commissioners Charter credit decisions above a certain nominal
regulates: value and granting credit approval to related
a. Composition and Criteria of the Board of parties.
Commissioners; b. Directing, monitoring and evaluating the
b. Independent Commissioner; implementation of BCA’s strategic policies
c. Independent Commissioner Criteria; and giving advice to the Board of Directors in
d. Term of Office of the Board of Commissioners; accordance with regulations, including:
e. Appointment of the Board of Commissioners; - The Board of Commissioners reviews and
f. Concurrent Position of the Board of gives approval to the updated Recovery Plan
Commissioners; that has been submitted to the Regulator.
g. Obligations, Duties, Responsibilities and - The Board of Commissioners submits
Authorities of the Board of Commissioners; Management Reports and the Board
h. Main Duties of the President Commissioner; of Commissioners’ Supervision Results
i. Approval and Actions of the Board of regarding Special Purpose Profit and Loss
Commissioners; Accounts for Payment System Services
j. Prohibition of the Board of Commissioners; annually to Bank Indonesia.
k. Transparency Aspects for the Board of - The Board of Commissioners reports
Commissioners; supervision regarding the Bank’s Business
l. Orientation of the Board of Commissioners; Plan to the OJK on a semi-annual basis.
m. Training for the Board of Commissioners; - The Board of Commissioners reviews the
n. Ethics and Working Hours of the Board of realization of the Bank’s Business Plan,
Commissioners; which has been submitted by the Board of
o. Board of Commissioners Meeting; Directors to the OJK.
p. Reporting and Accountability; - The Board of Commissioners evaluates,
q. Remuneration; directs, and holds joint discussions with
r. Lending to the Board of Commissioners; as well the Board of Directors regarding the Bank’s
as Information Technology Strategic Plan.
s. Board of Commissioners Self-Assessment.
314 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
- The Board of Commissioners provides views Internal Auditor
and input to the Board of Directors when - The Board of Commissioners discussed
discussing BCA’s performance periodically. the external review report on the quality
- The Board of Commissioners monitors and assurance and maturity assessment of
provides input regarding ESG developments. the Internal Audit function.
- The Board of Commissioners and Directors - The Board of Commissioners receives
discusses industry updates that receive the reports regarding the implementation
attention of regulators. of the main points of internal audit
c. Ensure the implementation of the principles of the results on a semesterly basis, conducts
Corporate Governance are carried out in every discussions, and provides input to DAI
business activity at all levels of BCA organization, before submitting it to the OJK.
at least through monitoring of the following: - The Board of Commissioners receives
1) Regularly monitor and provide input to the audit results reports from DAI
Board of Directors on the implementation of periodically and discusses several audit
corporate governance; results with DAI, the Audit Committee,
2) Implementation of the duties and especially regarding audit results
responsibilities of the Board of reports that are deemed necessary
Commissioners and the Board of Directors; for the Board of Commissioners to
3) Completeness and implementation of the acknowledge and obtain input from.
duties of the committees and work units that - The Board of Commissioners
carry out the internal control function; evaluates DAI’s performance based
- The Board of Commissioners on recommendations from the Audit
holds regular discussions with the Committee.
Audit Committee, Risk Monitoring External Auditor
Committee, and Integrated Governance - Based on recommendations from
Committee regarding reports on the the Audit Committee, the Board
implementation of duties submitted by of Commissioners has submitted a
each Committee. proposal to appoint KAP Tanudiredja,
4) Implementation of remuneration policy and Wibisana, Rintis & Rekan - a member
periodic evaluation of the remuneration firm of the PwC global network
policy; (since May 16, 2024, KAP Tanudiredja,
5) Implementation of the compliance, internal Wibisana, Rintis & Rekan, a member firm
auditor and external auditor functions; of the PwC global network has changed
Compliance its name to KAP Rintis, Jumadi, Rianto &
- The Board of Commissioners supervises Rekan) to carry out an audit assignment
the Bank’s compliance with applicable for the BCA financial statements for the
rules and regulations. 2024 financial year and has received
- The Board of Commissioners reviewed approval at the 2024 BCA AGMS.
the report on the implementation of the - Based on the recommendation of
duties and responsibilities of the BCA the Audit Committee, the Board
Integrated Compliance Division. of Commissioners approved the
- The Board of Commissioners receives, replacement of the auditor to complete
monitors, and discusses with the Board the audit/review of BCA's books and
of Directors regarding developments records for the fiscal year ending
in new regulations from Bank Indonesia December 31, 2024.
and OJK. 6) Implementation of risk management,
- The Board of Commissioners regularly including internal control systems;
discusses the implementation of Anti- - The Board of Commissioners supervises
Money Laundering, Countering the the management of assets and liabilities
Financing of Terrorism and Countering (ALCO) carried out by the company’s
the Financing of Proliferation of management.
Weapons of Mass Destruction (AML, - The Board of Commissioners
PPT and PPPSPM) Programmes and periodically evaluates the Risk
approves the Policies and Provisions Management Policy, among others,
for the Implementation of AML, PPT and by approving the determination of the
PPPSPM Programmes. level of risk appetite of the Bank.
- The Board of Commissioners conducts
discussions and provides direction to
2024 Annual Report PT Bank Central Asia Tbk 315
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
the Board of Directors and work units a. Summon for meetings of the Board of
regarding risk developments occurring Commissioners.
in the banking industry, including cyber b. Lead the Board of Commissioners meetings.
risk, which is increasingly developing c. Lead the General Meeting of Shareholders. The
due to digital transformation. Board of Commissioners has decided to appoint
7) Provision of funds to related parties and the President Commissioner as Chairman of the
provision of large exposures; BCA Annual GMS.
8) BCA’s strategic plan; d. Coordinate the implementation of the duties and
9) Transparency of the financial and non- responsibilities of the Board of Commissioners.
financial conditions; e. The President Commissioner, together with the
10) Approve and periodically review the BCA’s President Director, signs the documents to be
vision, mission and core values. submitted to the Regulator in accordance with
d. Supervise the implementation of Integrated the applicable regulations.
Governance.
e. Ensure that the Board of Directors has followed up In accordance with its duties and responsibilities,
on audit findings and recommendations from DAI, throughout 2024 the BCA Board of Commissioners
external auditors, the results of supervision by the will not be involved in decision-making on BCA's
OJK, Bank Indonesia, and/or other authorities. operational activities except in matters mandated in
f. Provide approval on the merger, consolidation, BCA's Articles of Association.
and/or integration plan, which contains summary
information from the independent appraiser’s 3. Authorities of the Board of Commissioners
report. In carrying out its duties and responsibilities, the BCA
g. Notifying the OJK/Bank Indonesia no later Board of Commissioners has the authority to:
than 7 (seven) working days since the finding of a. Entering buildings or other locations used or
violation of laws and regulations in the financial controlled by BCA, inspecting all books, letters,
and banking sector and/or circumstances or and other evidence, inspecting and matching
predicted condition that may endanger the the condition of cash and other items, and
business continuity of BCA. being aware of all actions taken by the Board of
h. The Board of Commissioners is obliged to ensure Directors.
that the committees that have been formed b. Request for clarifications from the Board of
carry out their duties effectively and evaluate the Directors on all matters regarding BCA.
performance of these committees at the end of c. Temporarily terminate one or more members of
each financial year. the Board of Directors, should any of the member
i. Hold meetings and prepare minutes of meeting in of the Board of Directors act contrary to the
carrying out the following: BCA’s Articles of Association, cause harm to BCA,
1) Regular meetings of the Board of neglect obligations, and/or violate the prevailing
Commissioners at least once every 2 (two) laws and regulations.
months or 6 (six) times per year. d. Propose replacement and/or appointment of
2) Regular meetings of the Board of members of the Board of Directors to the GMS
Commissioners with the Board of Directors with due regard to the recommendations of the
at least once every 4 (four) months. Remuneration and Nomination Committee.
j. Under certain conditions, holding the Annual GMS e. Evaluate and decide upon the Board of Directors’
and other GMS in accordance with respective requests related to the transactions that require
authorities as stipulated in the applicable laws and the approval of the Board of Commissioners in
regulations, and BCA’s Articles of Association. accordance with BCA’s Articles of Association as
k. Create and submit reports to the Annual GMS, the follows:
OJK or other parties. 1) Lend money or providing credit facilities or
l. Approved the Bank’s Business Plan and other banking facilities that resembles or
Sustainable Financial Action Plan prepared by the result in money borrowing:
Board of Directors. i. to related parties as stipulated in the
provisions of Bank Indonesia, the OJK or
Duties and Responsibilities of President other authorized institutions concerning
Commissioner the Legal Lending Limit for Commercial
The President Commissioner carries out the Banks;
same duties and responsibilities as the Board of ii. which in excess of a certain amount that
Commissioners above, added with other duties and from time to time shall be determined
responsibilities, as follows: by the Board of Commissioners.
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
2) Provide a collateral or debt security of Commissioners but less than or equal to
(borgtocht): ½ (one-half) of the total net worth of BCA
i. in order to guarantee payment recorded in the BCA balance sheet, either in
obligations of related parties to other 1 (one) transaction or in several independent
parties as stipulated in the provisions transactions or related to each other in 1
of Bank Indonesia, the OJK or other (one) financial year.
authorized agencies concerning the 8) Carry out legal actions or transactions
Legal Lending Limit for Commercial that are strategic in nature and may have
Banks; a significant impact to the continuity of
ii. in order to guarantee the obligations BCA’s business, that the type of legal action
of other parties for amounts in excess or transaction from time to time will be
of a certain amount which from time to determined by the Board of Commissioners.
time will be determined by the Board of
Commissioners. The Board of Commissioners observes the provisions
3) Purchase or otherwise acquire immovable of the BCA’s Articles of Association, the Board of
property, except for the purpose of Commissioners’ Charter, and the prevailing laws
implementing what is stipulated in point q and regulations in order to carry out its duties,
paragraph 2 Article 3 of BCA’s Articles of responsibilities and authority.
Association which exceeds a certain amount
from time to time will be determined by the 4. Criteria for the Members of the Board of
Board of Commissioners, that is to carry out Commissioners
other activities that are commonly carried Members of the Board of Commissioners of BCA are
out by banks as long as they are not contrary individuals who meet the criteria and requirements in
to prevailing laws and regulations, including accordance with the Board of Commissioners’ Charter
actions in the context of restructuring or which can be downloaded in the Organizational
saving credit including buying collateral, Structure Section of the BCA website (https://www.
either in whole or in part, through an auction bca.co.id/en/tentang-bca/tata-kelola/struktur-
or other means, in the event that the debtor organisasi).
does not fulfill its obligations to the bank
provided that the collateral purchased The criteria for the Board of Commissioner members
is mandatory to be disbursed as soon as are as follows:
possible. a. Have good character, morals and integrity.
4) Establish a new company, undertake or b. Be competent in carrying out legal actions.
dispose or reduce capital participation or c. Within 5 (five) years before appointment and
increase capital participation, except: during their tenure:
i. Additional capital participation from 1) Have never been convicted of a criminal
BCA stock dividends; or offense that is detrimental to the state
ii. Equity participation in the context of finances and/or related to the financial
credit rescue, sector; and
with due regard to the prevailing laws and 2) Have never been a member of the Board of
regulation. Directors and/or a member of the Board of
5) Borrow money that is not included in Commissioners who during their tenure:
regulation that referred to the Articles of i. Not held an Annual GMS;
Association of BCA, namely collecting funds ii. Accountability as a member of the
from the public in the form of deposits Board of Directors and/or a member
such as current account, time deposits, of the Board of Commissioners has
certificates of deposit, savings, and/or other been rejected by the GMS or does not
equivalent forms. provide accountability as a member of
6) Transfer or relinquish BCA claim rights the Board of Directors and/or a member
which have been written off, either in a part of the Board of Commissioners to the
or in a whole, the amount of which will be GMS; and
determined from time to time by the Board iii. Had caused a company that has
of Commissioners. obtained permits, approvals, or
7) Sell, transfer or relinquish rights or registrations from OJK fail to comply its
collateralizing/guaranteeing BCA’s obligation to submit annual reports and/
assets above a certain value that will be or financial statements to OJK.
determined from time to time by the Board d. Has a commitment to comply with laws and
regulations.
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e. Has knowledge and/or expertise in the fields Nomination Mechanism
required by BCA. BCA has arrangements related to the nomination
f. Meet the following requirements for integrity, mechanism in the Mechanism for Nomination of
competence and financial reputation: Members of the Board of Commissioners and the Board
1) Integrity requirements, including: of Directors documents, which can be accessed by the
i. Capable of carrying out legal actions; public through the BCA website under the Corporate
ii. Has good character and morals, at least Governance Section (https://www.bca.co.id/en/
shown by the attitude of complying with tentang-bca/tata-kelola/acgs/kebijakan-gcg).
applicable provisions, including have
never been convicted for a crime in a Referring to rules concerning the Implementation of
certain period before being nominated; Good Corporate Governance for Commercial Banks,
iii. Has a commitment to comply with the mechanism for nominating members of the Board
laws and regulations and uphold OJK of Commissioners is as follows:
policies; a. Proposals from Shareholders/Board of
iv. Has a commitment towards the Commissioners/President Director related to the
development of a healthy financial nominations of the Board of Commissioners are
services institution; submitted to the Board of Commissioners.
v. Not included as a party prohibited from b. The Board of Commissioners requests the
being a main party; and Remuneration and Nomination Committee (RNC)
vi. Have a commitment not to commit to discuss proposals related to the nomination of
and/or repeat actions and/or activity the Board of Commissioners.
that cause the person concerned to c. RNC conducts discussions related to the proposal
be included as a party prohibited from in the RNC meeting. The discussion is outlined in
becoming a Main Party. the minutes of the RNC meeting. Subjects to be
2) Competency requirements, including: considered in the meeting includes:
i. Knowledge in banking which is 1) Reasons and/or considerations for the
adequate and relevant to the position; proposal (among other things based on
ii. Experience and expertise in banking interview results, financial reputation
and/or financial sector. studies, experience, track record, and public
3) Financial reputation requirements, at least opinion circulating in various media);
evidenced by: 2) Criteria and qualifications for the candidate
i. Not having bad credit and/or non- in accordance with the direction of the BCA
performing loan; and strategy;
ii. Has never been declared bankrupt 3) RNC has carried out the following steps:
and/or has never been a shareholder, i. Observe the external and internal
controller of an insurance company who conditions in accordance with the
is not a shareholder, a member of the direction of BCA’s strategy;
Board of Directors, or a member, of the ii. Communicate with the Controlling
Board of Commissioners found guilty Shareholder (if the proposal is not from
of causing a company to be declared the Controlling Shareholder).
bankrupt within the last 5 (five) years d. After conducting the discussion, RNC provides
before being nominated. recommendations to the Board of Commissioners
4) Has passed the Fit and Proper Test in as outlined in the RNC Decree.
accordance with OJK Regulations. e. Based on the RNC’s recommendations, the
Board of Commissioners submits candidates for
5. Nomination for Members of the Board of the Board of Commissioners to the chairman of
Commissioners the GMS through the Board of Commissioners’
The nominations for members of the Board of Decree.
Commissioners refer to Article 7 and Article 26 of f. The GMS Chairman requests for Shareholders’
OJK Regulation No. 33/POJK.04/2014 concerning the approval in the GMS agenda related to the
Board of Directors and The Board of Commissioners nominations of the Board of Commissioners.
of Issuers or Public Companies and Article 41 of OJK g. After obtaining approval from the GMS, the
Regulation concerning the Implementation of Good approval shall be set forth in the minutes of
Corporate Governance for Commercial Banks. the GMS which form the basis of the Fit and
Proper Test of the candidates for the Board of
Commissioners.
h. BCA may use third parties’ services to search for
candidates of the Board of Commissioners.
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The explanation of the nomination flow above is shown in the diagram below:
Nomination Mechanism of Members of Board of Commissioners of BCA
Shareholders/Board
Board of
of Commissioners/ RNC GMS Fit and Proper Test*)
Commissioners
President Director
Nomination Proposal
Submit Discussion in No
(Candidate for
the Board of proposals the RNC
Commissioners BCA to RNC meeting
Submission Yes
of candidate
proposals
to the GMS
RNC
Chairman through
Decree
the Board of
Commissioner’
Decree The Chairman of
the GMS request
for shareholder
approval
Approval is set
Preparation and
forth in the minutes
fulfilment of the
of the GMS (basis
fit and proper test
of fit and proper
process
test)
PT Bank Central Asia Tbk
Acceptance of fit
and proper test
results
Note:
*) Submission of fit and proper test administrative documents
to OJK can be done since the RNC decision letter is obtained Finish
6. Number and Composition of the Members of the Board of Commissioners
BCA has determined the number and composition of members of the Board of Commissioners in accordance with
Board of Commissioners’ Charter.
Provisions of OJK Regulation on the Implementation
Implementation at BCA
of Governance for Commercial Banks
Have at least 3 (three) people and at most the same as Members of the Board of Commissioners consists of 5 (five)
the number of members of the Board of Directors. people.
Have at least 1 (one) member of the Board of All members of the BCA Board of Commissioners are domiciled in
Commissioners domiciled in Indonesia. Indonesia.
Have Independent Commissioners of at least 50% The number of BCA Independent Commissioners is 3 (three)
of the total number of members of the Board of people or 60% (sixty percent) of the total number of members of
Commissioners. the BCA Board of Commissioners.
As of December 31, 2024, BCA has 5 (five) members on the Board of Commissioners, consisting of 1 (one) President
Commissioner, 1 (one) Commissioner, and 3 (three) Independent Commissioners. The number of members of the BCA
Board of Commissioners does not exceed the number of members of the BCA Board of Directors. The number of BCA
Independent Commissioners is 60% (sixty percent) of the total members of the BCA Board of Commissioners. All
members of the BCA Board of Commissioners are domiciled in Indonesia.
In 2024, there were no changes to the composition of the Board of Commissioners; therefore, BCA does not provide
reasons for changes to the composition of the Board of Commissioners in this Annual Report. The composition of the
membership of the BCA Board of Commissioners is set out in the Deed of BCA Meeting Decision Statement No. 33
dated May 10, 2022, made in the presence of Christina Dwi Utami, S.H. M.Hum., M.Kn., Notary in West Jakarta.
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The Composition of BCA Board of Commissioners as of December 31, 2024
Name Position Approval Letter No. Term of Office
Djohan Emir Setijoso President Commissioner 13/99/GBI/DPIP/Rahasia dated August 25, 2011 2021 – 2026
Tonny Kusnadi Commissioner 5/4/DpG/DPIP/Rahasia dated September 4, 2003 2021 – 2026
Cyrillus Harinowo Independent Commissioner 5/4/DpG/DPIP/Rahasia dated September 4, 2003 2021 – 2026
Raden Pardede Independent Commissioner 8/84/DPB3/TPB3-2 dated August 16, 2006 2021 – 2026
Sumantri Slamet Independent Commissioner SR-117/D.03/2016 dated July 11, 2016 2021 – 2026
In connection with the receipt of Mr. Djohan Emir e. No longer meets applicable statutory
Setijoso's resignation letter from his position as requirements.
President Commissioner of BCA on December 16,
2024, BCA has made an information disclosure on 8. Orientation Program for New Board of
December 17, 2024 to comply with the provisions of Commissioners Members
Article 27 jo. Article 9 POJK No. 33/POJK.04/2014 New members of the Board of Commissioners must
concerning Directors and Board of Commissioners of participate in the orientation program in order to carry
Issuers or Public Companies jis. Article 2 paragraph out their duties and responsibilities as members of the
(1) POJK No. 31/POJK.04/2015 regarding Disclosure Board of Commissioners properly.
of Information or Material Facts by Issuers or Public
Companies and Provision III.2.1.1 Attachment to The Board of Commissioners orientation program are
the Decree of the Board of Directors of PT Bursa regulated in:
Efek Indonesia Number Kep-00066/BEI/09-2022 a. BCA Governance Guidelines Chapter 3
regarding Amendments to Regulation Number I-E concerning the Board of Commissioners’ Charter.
regarding Obligation to Submit Information. b. Board of Directors’ Decree No. 189/SK/DIR/2020
dated December 4, 2020 concerning Orientation
All members of the Board of Commissioners of BCA Guidelines for New Members of the Board of
have obtained approval and passed the fit and proper Directors and Board of Commissioners of PT Bank
test from Bank Indonesia (currently the OJK) before Central Asia Tbk.
carrying out their duties and functions. This is in
accordance with Bank Indonesia Regulation No. 12/23/ The orientation program includes, among others:
PBI/2010 concerning Fit and Proper Test and Bank a. Knowledge about BCA’s Vision, Mission, Values,
Indonesia Circular Letter No. 13/8/DPNP concerning Strategy;
Fit and Proper Test as amended by Bank Indonesia b. BCA’s mid-term and long-term plans (RBB for the
Circular Letter No. 13/26/DPNP dated November 30, year);
2011. c. BCA’s performance and finances; and
d. Issues relevant to the banking world.
7. Term of Office of the Board of Commissioners
In accordance with BCA’s Articles of Association, Orientation Procedures
the term of office of members of the Board of The orientation for the new members of the Board of
Commissioners is 5 (five) years from the date specified Commissioners may be conducted by:
in the GMS. The term of office of the members of the a. Presentation by work units of head office;
Board of Commissioners for this period will end when b. Visits to various BCA’s activity locations;
BCA Annual GMS is closed in 2026. The GMS still has c. Meetings and discussions with other members
the authority to dismiss one or more members of the of the Board of Directors and the Board of
Board of Commissioners at any time before its term Commissioners to discuss various BCA’s issues or
ends. other information required; and
d. Learn various BCA’s information that available
The term of office of a member of the Board of electronically (online base).
Commissioners automatically ends if the person
concerned: In 2024, there was no implementation of orientation
a. Declared bankrupt or placed under jurisdiction program for members of the Board of Commissioners
based on a court decision; because there was no appointment of new members
b. Resign from his position in accordance with of the Board of Commissioners.
applicable regulations;
c. Deceased;
d. Dismissed based on the General Meeting of
Shareholders;
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9. Training Programs in Order to Enhance the Board of Commissioners Competence
BCA has a Board of Commissioners training program policy that is regulated in the Board of Commissioners’ Charter.
BCA requires members of the Board of Commissioners to attend a training program at least once a year to support the
implementation of their duties and responsibilities. As additional information, the training programs for the Board of
Commissioners in 2024 were implemented offline and online. The list of training programs attended by members of
the Board of Commissioners throughout 2024 is as follows:
Training Programs Participated in by Members of the Board of Commissioners in 2024
Media/
No. Name Training Program Organizer Date Location
Form
1 D.E. Refreshment BSMR: Strengthen 4 Pillars Risk BCA January 15, Jakarta, Webinar
Setijoso Control System toward Sustainable Bank 2024 Indonesia
Risk Management Alignment Seminar Bankers May 21-22, Jakarta, Seminar/
for Commissioners: Improving the Association 2024 Indonesia Conference
Oversight Function of Risk Management for Risk
Implementation to Realize a Sustainable Management
Banking Industry (BARa)
BCA Wealth Summit 2024 BCA September Jakarta, Seminar/
4-5, 2024 Indonesia Conference
ESG Training (Capacity Building) Introduction BCA November 7, Jakarta, Seminar/
and Implementation Plan for IFRS S1 and S2 in 2024 Indonesia Conference
Indonesian Banking
Indonesia Knowledge Forum 2024 BCA November 12- Jakarta, Seminar/
13, 2024 Indonesia Conference
2 Tonny Risk Management Alignment Seminar BARa October 16-18, Jakarta, Seminar/
Kusnadi Qualification Level 6 2024 Indonesia Conference
ESG Training (Capacity Building) Introduction BCA November 7, Jakarta, Seminar/
and Implementation Plan for IFRS S1 and S2 in 2024 Indonesia Conference
Indonesian Banking
Indonesia Knowledge Forum 2024 BCA November 12- Jakarta, Seminar/
13, 2024 Indonesia Conference
3 Cyrillus Starting Year Forum 2024: Monetary Stability Infobank February 1, Jakarta, Webinar
Harinowo Amidst Economic Dynamics 2024 2024 Indonesia
Risk Management Alignment Seminar BARa August 23, Jakarta, Seminar/
Qualification Level 6 2024 Indonesia Conference
BCA Wealth Summit 2024 BCA September Jakarta, Seminar/
4-5, 2024 Indonesia Conference
ASEAN Global Leadership Program: SRW & Co. and November 4-8, China Seminar/
Innovation and Entrepreneurship: Cutting- Cheung Kong 2024 Conference
edge Insights from China Graduate School
of Business,
China
Indonesia Knowledge Forum 2024 BCA November 12- Jakarta, Seminar/
13, 2024 Indonesia Conference
KPMG Board Governance Forum: Climate KPMG November 14, Jakarta, Seminar/
reporting in the financial statements event 2024 Indonesia Conference
4 Raden Risk Management Alignment Seminar BARa October 16-18, Jakarta, Seminar/
Pardede Qualification Level 6 2024 Indonesia Conference
ESG Training (Capacity Building) Introduction BCA November 7, Jakarta, Seminar/
and Implementation Plan for IFRS S1 and S2 in 2024 Indonesia Conference
Indonesian Banking
Indonesia Knowledge Forum 2024 BCA November 12- Jakarta, Seminar/
13, 2024 Indonesia Conference
5 Sumantri BCA Trading Trends 2024 BCA January 11, Jakarta, Webinar
Slamet 2024 Indonesia
Digital Transformation Strategy Imperial College June 17-21, London, Seminar/
Business School, 2024 UK Conference
London
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Media/
No. Name Training Program Organizer Date Location
Form
Risk Management Alignment Seminar BARa August 21-23, Jakarta, Seminar/
Qualification Level 6 2024 Indonesia Conference
BCA Wealth Summit 2024 BCA September Jakarta, Seminar/
4-5, 2024 Indonesia Conference
ESG Training (Capacity Building) Introduction BCA November 7, Jakarta, Seminar/
and Implementation Plan for IFRS S1 and S2 in 2024 Indonesia Conference
Indonesian Banking
Indonesia Knowledge Forum 2024 BCA November 12- Jakarta, Seminar/
13, 2024 Indonesia Conference
KPMG Board Governance Forum: Climate KPMG November 14, Jakarta, Seminar/
reporting in the financial statements event 2024 Indonesia Conference
In accordance with OJK Regulation No. 24 of 2022 concerning the Development of the Quality of Human Resources for
Commercial Banks and OJK Circular Letter Number 28/SEOJK.03/2022 concerning Risk Management Certification for
Commercial Bank Human Resources, all members of the Board of Commissioners have appropriate Risk Management
and/or Refreshment Certification in accordance with applicable provisions.
10. Share Ownership of Members of the Board of b. The obligation of the members of the Board of
Commissioners Amounting 5% or More of the Commissioners to submit to BCA information
Paid-Up Capital on ownership and changes in ownership of
BCA's policy on share ownership reporting by BCA shares no later than 3 (three) working
members of the Board of Commissioners refers to days after the occurrence of ownership or any
Article 57 of OJK Regulation No. 17 of 2023 concerning change in ownership of shares of the Public
the Implementation of Governance for Commercial Company. The policy of reporting ownership or
Banks, OJK Circular Letter No. 13/SEOJK.03/2017 any change in ownership of shares of the Board
concerning the Implementation of Governance for of Commissioners is in accordance with OJK
Commercial Banks, Article 2 of OJK Regulation No. 11/ Regulation No. 11/POJK.04/2017 on Reporting
POJK.04/2017 concerning Reports on Ownership or Ownership or Any Change in Ownership of Shares
Any Changes in Share Ownership of Public Companies, of Public Companies, which was repealed by OJK
and OJK Regulation No. 4 of 2024 concerning Reports Regulation No. 4 of 2024 on Reporting Ownership
on Ownership or Any Changes in Share Ownership of or Any Change in Ownership of Shares of Public
Public Companies and Reports on Activities of Pledge Companies and Reporting Activities of Pledging
of Shares of Public Companies. Shares of Public Companies, and was socialized
by Memorandum No. 075/MO/ESG/2024 dated
Implementation of the Ownership Reporting Policy or August 6, 2024 by the Corporate Secretary
Any Changes in Share Ownership to all Board of Directors and the Board of
The Board of Commissioner’ Charter governs the Commissioners.
following:
a. Disclosure obligations of the Board of As a form of compliance with internal and external
Commissioners on share ownership that reaches policies regarding share ownership reports, BCA has
5% (five percent) or more of the paid-up capital, also submitted a report on BCA’s share ownership
which includes the type and number of shares in of the Board of Commissioners at the beginning of
BCA, other banks, non-bank financial institutions each month and for any change in share ownership
and other companies domiciled in the country of the Board of Commissioners in 2024 through the
and abroad. In addition, BCA has also established e-reporting system to OJK and IDX.
and maintains a special register as provided in
Article 50 of the Limited Liability Company Law.
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Table of Share Ownership of Members of the Board of Commissioners Reaching 5% (five percent) or More of Paid-up
Capital as of December 31, 2024
Share ownership of members of the Board of Commissioners amounting to 5% or more in:
Name Non-Bank Financial
BCA Other Bank Other Companies
Institution
Djohan Emir Setijoso - - - √
Tonny Kusnadi - - - √
Cyrillus Harinowo - - - √
Raden Pardede - - - √
Sumantri Slamet - - - -
All members of the Board of Commissioners do not have indirect ownership of BCA shares. The BCA Board of
Commissioners owns 0.093% of BCA shares cumulatively. The following is a breakdown of BCA share ownership along
with the percentage at the beginning and end of the financial year by members of the Board of Commissioners directly
in 2024.
Table of Number of BCA Share Ownership by the Board of Commissioners in 2024
Number of Ownership at the Number of Ownership at the End
Board of Directors Beginning of the Year Percentage of the Year Percentage
(as of January 1, 2024) (as of December 31, 2024)
Djohan Emir Setijoso 106,610,700 0.086% 106,824,845 0.087%
Tonny Kusnadi 7,087,982 0.006% 7,269,681 0.006%
Cyrillus Harinowo N/A N/A N/A N/A
Raden Pardede N/A N/A N/A N/A
Sumantri Slamet N/A N/A N/A N/A
TOTAL 113,698,682 0.092% 114,094,526 0.093%
11. Concurrent Position of the Board of b. Independent Commissioners are prohibited from
Commissioners Members holding concurrent positions as public officials,
The provision of concurrent positions of the BCA namely people who are appointed and given the
Board of Commissioners are based on Article 46 of task of occupying certain positions or positions in
OJK Regulation concerning the Implementation of public bodies that are partly or wholly funded by
Governance for Commercial Banks are as follows:a. the state revenue and expenditure budget and/or
BCA’s Board of Commissioners Members do not hold regional revenue and expenditure budget.
concurrent positions: c. Not included in the concurrent positions as
1) As members of the Board of Directors, referred to in the paragraph above, if:
the Board of Commissioners, or executive 1) Members of the Board of Commissioners
officers: serve as members of the Board of Directors,
a) In financial institutions or financial members of the Board of Commissioners, or
company, both banks and non-banks; Executive Officers who carry out supervisory
b) In more than 1 (one) non-financial functions at 1 (one) non-bank subsidiary
institution or non-financial company, company controlled by BCA;
both domestic and overseas; 2) Non-Independent Commissioners carry out
2) In the field of functional duties at a bank functional duties from bank shareholders in
financial institution and/or non-bank the form of legal entities in the BCA business
financial institution domiciled in or outside group; and/or
the country; 3) Members of the Board of Commissioners
3) In other positions that may cause a conflict hold positions in non-profit organizations or
of interest in carrying out duties as a member institutions, as long as the person concerned
of the Board of Commissioners; and/or does not neglect the implementation of
4) In other positions in accordance with the duties and responsibilities as a member of
provisions of laws and regulations. the BCA Board of Commissioners.
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d. Members of the BCA Board of Commissioners shall not serve concurrently as committee members on more than
5 (five) committees in institutions/companies in which they also serve as members of the Board of Directors or
Board of Commissioners.
Throughout 2024, all members of the BCA Board of Commissioners do not hold positions in BCA's Subsidiaries. The
following is information regarding concurrent positions of members of the Board of Commissioners in other agencies/
companies/institutions/organizations/committees throughout 2024.
Table of Concurrent Positions of BCA Board of Commissioners in 2024
Position in Position in Company/
Name Positions at BCA Business Field
other Bank Institution
Djohan Emir Setijoso President Commissioner - - -
Tonny Kusnadi Commissioner - President Commissioner of Telecommunication
PT Sarana Menara Nusantara Tower Operator
Tbk
Cyrillus Harinowo Independent Commissioner - - -
Raden Pardede Independent Commissioner - Independent Commissioner Retail Trading through
of PT Global Digital Niaga Tbk Digital Platforms
Sumantri Slamet Independent Commissioner - Member of the University of Education
Indonesia Risk Committee*)
* ) Serving until August 28, 2024.
Table of Concurrent Positions of the Board of Commissioners in Committees at BCA in 2024
Name Positions at BCA AGMS Period Position in Committee
Djohan Emir Setijoso President Commissioner 2021-2026 Remuneration and Nomination Committee Members
Tonny Kusnadi Commissioner 2021-2026 -
Cyrillus Harinowo Independent Commissioner 2021-2026 Chairman of the Risk Monitoring Committee
Raden Pardede Independent Commissioner 2021-2026 Chairman of the Remuneration and Nomination
Committee
Sumantri Slamet Independent Commissioner 2021-2026 Chairman of the Audit Committee
12. Assessment of Committees under the Board of Commissioners
The committees under the Board of Commissioners that have been formed to support the implementation of the duties
of the Board of Commissioners are:
a. Audit Committee (AC)
b. Risk Oversight Committee (ROC)
c. Remuneration and Nomination Committee (RNC)
d. Integrated Governance Committee (IGC)
The Board of Commissioners carries out an assessment toward these committees with the following provisions:
1. Criteria
The assessment criteria for the committees under the Board of Commissioner are based on their compliance
towards the Chapter and the realization of work/implementation of the duties of each committee.
2. Process
The assessment is performed by the Board of Commissioners once per year.
3. Result
The Board of Committees claims that all of the committees under the Board of Commissioners have effectively
carried out their duties and responsibilities, and have worked by upholding excellent competency and quality
standards throughout 2024.
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Results of Assessment of Committees under the Board of Commissioners
Committee Assessment
1. AC The AC has ensured the implementation of internal control and effectively assisted the Board of
Commissioners in supervising the implementation of internal and external audit functions, implementation
of corporate governance, and compliance with applicable laws and regulations.
Throughout 2024, the AC has carried out its duties effectively and has held 31 (thirty-one) meetings, has
attended education or training, and has realized the AC work program.
Information related to meeting attendance, education or training, and the AC work program can be seen in
the Audit Committee Chapter on page 371.
2. ROC ROC has ensured that BCA has a risk management system that provides protection against the risks faced
by BCA.
Throughout 2024, ROC has held 17 (seventeen) meetings, has participated in education or training, and has
realized ROC work program.
Information related to meeting attendance, education or training, and ROC work program can be seen in the
Risk Oversight Committee Chapter on page 378.
3. RNC RNC has carried out its duties in providing recommendations to the Board of Commissioners regarding the
remuneration policy at BCA as a whole.
Throughout 2024, RNC has held 5 (five) meetings, has participated in education or training, and has realized
the RNC work program.
Information related to meeting attendance, education, or training and the RNC work program can be seen in
the Remuneration and Nomination Committee Chapter on page 384.
4. IGC IGC supports the Board of Commissioners in supervising the implementation of integrated governance at
BCA and its subsidiaries.
Throughout 2024, IGC has held 6 (six) meetings, has attended education or training, and has implemented
IGC work programs.
Information related to meeting attendance, education, or training and IGC work programs can be seen in the
Integrated Governance Committee Chapter on page 388.
The Committees under the Board of Commissioners Chapter on pages 371 of this Annual Report contains detailed
explanations of the committees under the Board of Commissioners
13. Report on the Implementation of the Duties of the Board of Commissioners Members
The complete Report on the Implementation of the Board of Commissioners’ Duties is presented on pages 36 under the
Report of the Board of Commissioners Section of this Annual Report.
The policies and implementation of the Board of Commissioners’ meetings, including joint meetings with the Board
of Directors, and the complete attendance level of each members of the Board of Commissioners are presented on
pages 346 and 355 under the Meetings of the Board of Commissioners, the Board of Directors and Joint Meetings
Section of this Annual Report.
14. Performance Assessment of Members of the Board of Commissioners
The assessment of members of the Board of Commissioners’ performance, in particular the procedure for conducting
performance assessment, the criteria used and the parties conducting the assessment, can be found on page 361 of this
Annual Report in the section "Assessment of the Performance of the Board of Commissioners and the Management".
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INDEPENDENT COMMISSIONERS • The results of the assessment of the Board of
Commissioners meeting stated that Independent
As of December 31, 2024, the number of Independent Commissioners can still act independently; and
Commissioners of BCA were 3 (three) out of a total of 5 (five) • Independent Commissioner’s statement at the
members of the Board of Commissioners, or representing GMS regarding the independence concerned.
60% (sixty-percent) of the total members of the Board.
In this case, the composition of the members of the BCA has Independent Commissioners who have been
Board of Commissioners has complied with the provision appointed for more than 2 (two) periods, namely Cyrillus
of OJK Regulation concerning the Implementation of Harinowo and Raden Pardede. Based on the meeting
Governance for Commercial Banks and OJK Circular Letter of the members of the Board of Commissioners, both
No. 13/SEOJK.03/2017 concerning the Implementation of them can still act independently, and each has made
of Governance for Commercial Banks, which stipulated a Statement of Independence, which is declared at
that the number of Independent Commissioners is at least the appointment of members of the Independent
50% (fifty-percent) of the total members of the Board of Commissioners at the 2021 BCA Annual GMS.
Commissioners.
3. Statement of Independence of Independent
1. Independent Commissioner Criteria Commissioners
The criteria that need to be met by all Independent The current BCA Independent Commissioners were
Commissioners of BCA include: appointed in 2021, and the appointment decision
1. Not a person who is employed or has the authority will be valid until 2026. Each BCA Independent
and responsibility to plan, lead, control, or oversee Commissioner has made a Statement of Independence
BCA activities within the last 6 (six) months, in accordance with the aspects of independence that
except for re-appointment as an Independent refer to OJK Regulation No. 33/POJK.04/2014, Article
Commissioner of BCA in the following period; 25 Paragraph 1, concerning the Board of Directors
2. Has no share in BCA, directly or indirectly; and Board of Commissioners of Issuers or Public
3. Has no affiliation with BCA, other members of the Companies and has submitted it to OJK.
Board of Commissioners, member of the Board
of Directors, and/or Controlling Shareholders of The following is the statement of independence
BCA; of Independent Commissioners who have been
4. Has no financial, management, share ownership, appointed for more than 2 (two) terms, which was
and/or familial relationships with members of stated at the 2021 Annual GMS:
the Board of Directors, other members of the
Board of Commissioners, and/or the ultimate In connection with my nomination as Independent
controlling shareholder, or any relationship with Commissioner of PT BCA Tbk (hereinafter referred to
the Bank that could affect the person’s ability to as the "Company") and considering that I have served
act independently; as Independent Commissioner of BCA for more than
5. Has no direct or indirect business relationships 2 (two) terms of office, in order to comply with the
related to BCA business activities; provisions of Article 25 paragraph 1 of OJK Regulation
6. Fulfilling other requirements of the Independent No.33/POJK.04/2014 concerning the Board of
Commissioners as per applicable regulations; Directors and Board of Commissioners of Issuers or
Public Companies and Article 26 paragraph 1 letter b
In addition to the criteria mentioned above, of OJK Regulation No.55/POJK.03/2016 concerning
Independent Commissioners must also meet the implementation governance for commercial banks, I
general requirements for prospective members of the hereby declare,
Board of Commissioners. 1. Have no financial relationship, management
relationship, ownership relationship, and/or
2. Terms of Office of Independent Commissioners familial relationship with members of the Board
The term of office of an Independent Commissioner of Directors, other members of the Board of
follows the general term of office of the Board of Commissioners, and/or current controlling
Commissioners, which is until 2026. Independent shareholders of the Company or any relationship
Commissioners who have served for 2 (two) with BCA that could affect my ability to act
consecutive terms of office may be reappointed in independently as regulated in OJK provisions
the following period as Independent Commissioners governing the Implementation of Governance for
by considering: Commercial Banks.
2. If it is later discovered that I have the relationship
as referred to in number 1, then I am willing
to relinquish my position as Independent
Commissioner and am willing to be replaced.
326 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Table of aspects of independence of Independent Commissioners
Cyrillus Raden Sumantri
Independence Aspects
Harinowo Pardede Slamet
Not a person who is employed or has the authority and responsibility √ √ √
to plan, lead, control, or oversee BCA activities within the last 6 (six) months, except
for re-appointment as an Independent Commissioner
of BCA in the following period.
Has no share in BCA, directly or indirectly √ √ √
Has no affiliated relations with BCA, other members of the Board of √ √ √
Commissioners, members of the Board of Directors, or the Majority
Shareholders of BCA.
Has no direct or indirect business relationships related to BCA business √ √ √
activities.
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
BOARD OF DIRECTORS 2) Control, maintain and manage BCA’s assets
for its interest.
Based on Law No. 40 of 2007 concerning Limited Liability 3) Create internal control structure, ensure the
Companies, the Board of Directors is the organ of the implementation of internal audit function in
company that has full authority and responsibility to every level of management, and follow up
manage the company for the company’s interest, in on Internal Audit Division (DAI) findings in
accordance with the company’s purposes and objectives, accordance with policies or directions given
as well as to represent the company, either inside or outside by the board of commissioners.
of court, in accordance with the provisions of the Articles b. Each member of the Board of Directors must
of Association and the applicable laws and regulations. carry out their duties in good faith and with full
responsibility, while adhering to all applicable
1. Guidelines and Code of Conduct of the Board laws and regulations.
of Directors (Board of Directors Charter) c. The Board of Directors represents BCA inside
In performing its duties and responsibilities, the Board and outside the court on all matters and in all
of Directors of BCA has been guided by the Board of events, binds BCA to other parties and other
Directors’ Charter. The Board of Directors’ Charter has parties to the BCA, and carries out all actions,
been evaluated and updated on a regular basis with both regarding management and ownership, with
reference to the prevailing laws and regulations. the limitation that the Board of Directors must
obtain prior written approval from the Board of
The Board of Directors’ Charter has been updated in Commissioners for actions following those listed
2024 in accordance to Board of Directors Decree No. below.
165/SK/DIR/2024, and is listed in the BCA Governance 1) Lend money or provide credit or other
Guidelines and can be accessed by the public through banking facilities that resemble or result in a
the BCA website under the Corporate Governance loan of money:
section. (https://www.bca.co.id/en/tentang-bca/ a) to related parties, as stipulated in Bank
tata-kelola/acgs/kebijakan-gcg). Indonesia Regulations concerning Legal
Lending Limits for Commercial Banks;
In general, the Board of Directors’ Charter governs: b) exceeding a certain amount,
- Legal basis; as determined by the Board of
- Values; Commissioners from time to time.
- Composition, criteria, and independence of the 2) Provide guarantees or debt guarantees
Board of Directors; (borgtocht):
- Terms of office of the Board of Directors; a) to guarantee payment obligations
- Concurrent positions of the Board of Directors; of related parties to other parties as
- Appointment of the Board of Directors; specified in Bank Indonesia, the OJK, or
- Responsibilities, duties, accountabilities and other authorized agencies’ provisions
authorities of the Board of Directors; concerning the Legal Lending Limit for
- Aspect of transparency and prohibitions for the Commercial Banks;
Board of Directors; b) to guarantee the obligations of other
- Orientation and training of the Board of Directors; parties in the excess of a certain
- Ethics and working hours of the Board of amount, as determined by the Board of
Directors; Commissioners from time to time.
- Board of Directors’ Meetings; 3) Purchase, or in other ways obtain, immovable
- Reporting and accountability; and property, except in the context of carrying
- Board of Directors Self-Assessment. out other activities commonly carried out
by BCA as long as it does not conflict with
2. Duties and Responsibilities of the Board of applicable laws and regulations, including,
Directors among others, actions in the context of
The duties and responsibilities of the Board of credit restructuring or rescue, including
Directors include the following: buying collateral, whether the whole or in
a. The Board of Directors is fully responsible for the partial, through auction or in other ways,
management of the company for the interests in the event that the debtor does not fulfill
and objectives of the company. The main duties his obligations to BCA, provided that the
of the Board of Directors are: collateral purchased must be disbursed as
1) Lead and manage BCA in accordance with soon as possible and in excess of a certain
the purposes and objectives of BCA. amount determined from time to time by the
Board of Commissioners;
328 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
4) Establish a new company, carry out or 2) File a request to the competent authority
release or reduce equity participation, or regarding the bankruptcy of BCA or a
increase equity participation, except: request for BCA to be granted a suspension
a) Additional capital participation derives of debt payment obligations (surseance van
from the company’s stock dividends; or betaling);
b) Equity participation in the context of The Board of Directors must obtain prior approval
credit bailout, from the GMS, which is attended by (the)
with due observance of the applicable laws shareholders of BCA and/or their legal proxies
and regulations; representing at least ¾ (three-quarters) of the
5) Borrow money that is not included in the total number of shares of BCA with valid voting
activity of collecting funds from the public in rights that BCA has issued, and the proposal
the form of demand deposits, time deposits, submitted is approved by more than ¾ (three-
certificates of deposit, savings, and/or other quarters) of the total number of votes legally cast
equivalent forms, the amount of which will be at the meeting in question.
determined by the Board of Commissioners e. In terms of:
from time to time; 1) A member of the Board of Directors is not
6) Transfer or relinquish BCA’s written- authorized to represent BCA in matters
off collection rights, either partially or or transactions in which the member of
completely, the amount of which will be the Board of Directors concerned has a
determined by the Board of Commissioners conflicting interest with the interests of
from time to time; BCA, it must be represented by another
7) Sell or transfer, release rights to, or pledge/ member of the Board of Directors (without
guarantee, BCA’s assets above a certain prejudice to the provisions of BCA Articles
value determined from time to time by the of Association);
Board of Commissioners, but whose value is 2) All members of the Board of Directors have
less than or equal to ½ (one-half) of the total conflicting interest with BCA, the Board of
net worth of BCA listed in the BCA’s balance Commissioners of BCA has the authority to
sheet, either in 1 (one) transaction or in act for, on behalf of, and represent BCA in
several transactions that are independent or such issues or transactions;
are related to one another in 1 (one) financial 3) The clauses in points 1) and 2) above do not
year; prejudice the BCA Articles of Association’s
8) Carry out strategic legal actions or provision on “Transactions Containing
transactions that may have a significant Conflicts of Interest.”
impact to BCA’s business continuity; the f. Without prejudice to the Board of Directors’
types of legal actions or transactions will be responsibilities, the Board of Directors has the
determined from time to time by the Board authority to appoint one or more persons with the
of Commissioners; authority and conditions specified by the Board
9) The Board of Commissioners’ approval for of Directors in a special power of attorney for
the actions of the Board of Directors can be certain actions.
given for 1 (one) action or more than 1 (one) g. In connection to the above-mentioned primary
action, and that can be reviewed from time duties of the Board of Directors, the Board of
to time, without prejudice to applicable laws Directors is required to:
and regulations. 1) Strive and ensure that BCA’s business and
d. To carry out one of the following actions: activities are carried out in accordance with
1) Transfer, relinquish rights, and/or make into BCA’s objectives and business field;
debt guarantees totaling more than ½ (one- 2) Prepare and submit to the Board of
half) of BCA’s total net worth or constituting Commissioners BCA’s development plan,
all of BCA’s assets, either in a single work plan, and annual budget, as well
transaction or several transactions that are as other plans related to BCA’s business
independent or related to one another in a implementation and convey to the Board of
single financial year; or Commissioners;
3) Organize and maintain BCA’s bookkeeping
and administration in accordance company's
custom;
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
4) Create an accounting system based on 9) Provide the Board of Commissioners with
internal control principles, particularly the accurate, relevant, and timely data and
separation of management, recording, information;
storage, and supervision functions; 10) Appoint members of the Board of Directors’
5) Provide accountability and all information supporting committees based on the
regarding the condition and operation decision of the Board of Directors meeting;
of BCA in the form of reports on BCA’s 11) Hold the annual GMS and/or other GMS/
activities, including financial statements, EGMS in accordance with BCA’s needs and
both in the form of annual reports and in applicable regulations;
the form of other periodic reports, in the 12) Deliver accountability for BCA’s
manner and time specified in BCA’s Articles management for 1 (one) year to the GMS
of Association, whenever requested by the no later than 6 (six) months after the BCA’s
Board of Commissioners; financial year ends;
6) Prepare the organizational structure of BCA, 13) Submit reports and disclosure of information
complete with details of the duties; to OJK, the Indonesia Stock Exchange, and
7) Carry out other obligations in accordance other authorized agencies in accordance
with BCA’s Articles of Association or with laws and regulations.
based on the instructions of the Board of
Commissioners or GMS meeting. 3. Authorities of the Board of Directors
h. Other Obligations: Based on BCA’s Articles of Association and other
1) Carry out GCG Principles in every business relevant regulations, the Board of Directors’ authorities
activity of BCA at all levels or phases of include:
BCA’s organization; a. Establish policies for leading and managing BCA;
2) Develop an internal control framework to b. Determine the formulation of BCA strategic
identify, measure, monitor, and control all strategies and policies;
risks faced by BCA; c. Regulate the provisions regarding BCA’s
3) Follow up on audit findings and employment, including the determination of
recommendations from BCA’s DAI, an salaries, pensions or old-age benefits, and
external auditor, monitoring results from BI, other income for BCA’s employees, based on
OJK, and/or monitoring results from other applicable laws and regulations and/or GMS
authorities; decisions (if any);
4) Establish a DAI that is independent of d. Appoint and dismiss BCA’s employees based on
operational work units and effectively BCA’s employment regulations;
implements the internal audit function in e. Regulate the delegation of powers by the Board
accordance with applicable regulations; of Directors inside and outside the court to one
5) Establish a risk management work unit, as or more members of the Board of Directors
well as a risk management committee and a specifically appointed for that purpose, or to
compliance work unit; one or more employees of BCA, either alone or in
6) Submit the annual work plan, which also collaboration with other people or bodies;
includes BCA’s annual budget, to the Board f. Carry out other actions, both in terms of
of Commissioners for approval prior to the management and ownership, in accordance with
start of the next financial year, taking into the provisions stipulated further by the Board of
consideration the laws and regulations Commissioners, taking into consideration the
applicable in the capital market sector; provisions of the applicable laws and regulations.
7) Submit BCA’s financial statements for audit
to a PA; Without prejudice to the other provisions in BCA
8) Disclose BCA’s strategic employment Articles of Association, the following apply:
policies to employees. Including various a. The President Director and one other member of
employment policies through decrees and the Board of Directors have the right and authority
circulars that all employees can access, to act for and on behalf of the Board of Directors
as well as the Collective Labor Agreement and represent BCA;
(PKB) book, BCA’s website, and policies b. If due to any reason the President Director is not
concerning the recruitment system, or has not been appointed, is unavailable, or is not
promotion system, and remuneration in place (this does not need to be proven to other
system. Such disclosure must be made parties), then the Deputy President Director,
through medias that are known or easily along with one other member of the Board of
accessed by employees; Directors, has the right and authority to act to and
330 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
on behalf of the Board of Directors and represent has failed to provide accountability
BCA; as members of the Board of Directors
c. If the President Director and Deputy President and/or members of the Board of
Directors, for any reason, are not or has not been Commissioners to the GMS; and
appointed, are unavailable, or are not in place c) Have caused a company that has
(regarding this issue, there is no need to prove obtained a license, approval, or
this to other parties), then 2 (two) directors are registration from OJK to fail to fulfill its
entitled and authorized to act for and on behalf obligation to submit annual reports and/
of the Board of Directors as well as representing or financial reports to OJK;
BCA. d. Has a commitment to comply with laws and
regulations.
The Board of Directors must carry out their duties, e. Has knowledge and/or expertise in the fields
responsibilities, and authorities in good faith, with a required by BCA.
full sense of responsibility and prudence, and adhering f. Meet the integrity requirements, which includes:
to the provisions of BCA’s Articles of Association, 1) Capable of performing legal actions, the
the Board of Directors’ Charter, as well as applicable definition of being able to perform legal
laws and regulations. The duties, responsibilities and actions refers to the Civil Code;
authorities of the Board of Directors are detailed in the 2) Has good characters and morals, at least
BCA Articles of Association and the Board of Directors demonstrated by the attitudes that comply
Charter that can be accessed on the BCA website. with prevailing provisions, including have
never been convicted to criminal offense
4. Criteria for Members of the Board of Directors in a certain period before being nominated;
Members of the Board of Directors of BCA are What is meant by “criminal acts” as referred
individuals who meet the criteria and requirements above are:
in accordance with OJK Regulation No. 33/ a). Criminal acts in the financial services
POJK.04/2014 concerning Board of Directors sector whose crimes were completed
and Board of Commissioners of Issuers or Public within the last 20 (twenty) years prior
Companies, OJK Regulation No. 17 of 2023 concerning being nominated;
the Implementation of Governance for Commercial b). Criminal offenses, namely crimes
Banks, OJK Regulation No. 27/POJK.03/2016 listed in the Criminal Code (KUHP)
concerning Fit and Proper Test for the Main Parties of and/or similar Criminal Code abroad,
The Financial Services Institutions and OJK Regulation with threat of criminal punishment of
concerning the Implementation of Governance for imprisonment for 1 (one) year or more,
Commercial Banks. The criteria for members of the whose sentence was completed
Board of Directors can also be seen in the Board of within the last 10 (ten) years prior being
Directors Charter, which can be accessed by public nominated; and/or
through the BCA website under the Organizational c). Other criminal acts with threat of criminal
Structure section. (https://www.bca.co.id/en/ punishment of 1 (one) year imprisonment
tentang-bca/tatakelola/struktur-organisasi). or more, including corruption, money
laundering, narcotics/psychotropics,
Criteria for members of the Board of Directors are as smuggling, customs, excise, human
follows: trafficking, illegal weapons trade,
a. Good ethics, morals, and integrity. terrorism, counterfeiting money, in the
b. Capable of performing legal actions. field of taxation, forestry, environment,
c. Within 5 (five) years before appointment and maritime affairs, and fisheries, whose
during the term of office: sentence was completed within the last
1) Has not been convicted for committing a 20 (twenty) years prior to nomination;
crime detrimental to the state finances or 3) Has a commitment to comply with laws and
relating to the financial sector; and regulations and support the OJK policies;
2) Has not been a member of the Board of 4) Has a commitment to the development of a
Directors and/or Board of Commissioners in healthy Bank;
which during his/her terms of office: 5) Not included as a party prohibited from
a) Did not hold an Annual GMS; becoming a Main Party, among others, is
b) His/Her accountability as members of a candidate not listed on the Disqualified
the Board of Directors and/or members List (DTL) for the fit and proper test. In
of the Board of Commissioners has accordance with regulations related to the
never been accepted by the GMS or fit and proper test, the Main Parties include
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Controlling Shareholders, members of the Nomination Mechanism
Board of Directors and members of the BCA has nomination mechanism regulations in the
Board of Commissioners; Nomination Mechanism document of the Board of
6) Has a commitment not to commit and/or Commissioners and the Board of Directors, which is
repeat actions and/or deeds that would accessible for the public on the BCA website under the
disqualify the person from becoming the Corporate Governance Section. (https://www.bca.
Main Party. co.id/en/tentang-bca/tata-kelola/acgs/kebijakan-
g. Meet the competency requirements, which gcg).
include:
1) Adequate and relevant banking knowledge Referring to the provisions concerning the
for the position. Knowledge in the banking Implementation of Governance for Commercial Banks,
sector includes, among other things, the flow of the nomination mechanism for members of
understanding of bank regulations and the Board of Directors is as follows:
operations, as well as risk management; a. Proposal from Shareholder/Board of
2) Knowledge of the roles and responsibilities Commissioners/President Director related to the
of the main entity and understanding of the nomination of the Board of Directors submitted
main business activities and main risks of to the Board of Commissioners.
Financial Services Institutions in a financial b. The Board of Commissioners requests the
conglomerate; Remuneration and Nomination Committee (RNC)
3) Experience in banking and/or finance, to discuss proposals regarding nominations or the
including experience in operations, Board of Directors.
marketing, accounting, auditing, funding, c. RNC holds discussions regarding the proposal in
credit, money market, capital market, law, question at the RNC meeting. The discussion was
or experience in supervision of Financial outlined in the Minutes of the RNC Meeting. During
Services Institutions; the meeting, several matters were considered,
4) The ability to carry out strategic management including:
in the context of developing a healthy bank; 1) Reasons and/or considerations for the
5) Has experience of at least 5 (five) years in the proposal (among other things, based on the
field of operations and at the minimum level interview results, financial reputation study,
as a Bank Executive Officer. track record experience, and public opinion
h. Meet the financial reputation requirements, circulating in various media);
which include: 2) Candidate criteria and qualifications in
1) Does not have bad credit and/or bad accordance with the Bank’s strategy;
financing; and 3) RNC has taken steps, including:
2) Has never been declared bankrupt or have - Monitor the external and internal
never been a shareholder, an Insurance conditions;
Company Controller who is not a shareholder, - Communicating with the controlling
a member of the Board of Directors or a shareholder (if the proposal is not from
member of the Board of Commissioners who the controlling shareholder).
was found guilty of causing a company to d. Following the discussion, RNC makes
be declared bankrupt, within the last 5 (five) recommendations to the Board of Commissioners.
years prior being nominated. The recommendation is in the form of an RNC
Decree.
5. Nomination for Members of the Board of e. Based on the recommendation of the RNC, the
Directors Board of Commissioners decided to recommend
The nomination for members of the Board of candidates for the Board of Directors to the
Directors refers to Article 7 of OJK Regulation No. 33/ Chairman of the GMS. The decision of the Board
POJK.04/2014 concerning The Board of Directors of Commissioners is stated in the form of a Board
and The Board of Commissioners of Issuers or Public of Commissioners’ Decree.
Companies and Article 10 of OJK Regulation No. 17 f. On the GMS agenda, the GMS Chairman requests
of 2023 concerning the Implementation of Good for shareholders’ approval with regards to the
Corporate Governance for Commercial Banks. nomination of the Board of Directors.
g. Following the GMS approval, the approval is
documented in the Minutes of GMS, which serve
as the foundation for the fit and proper test of
candidates for the Board of Directors.
h. BCA may use a reputable independent third-party
service (search firms) in the selection process of
candidates for the Board of Directors.
332 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
The explanation of the nomination flow above is shown in the diagram below:
Nomination Mechanism of Members of the Board of Directors of BCA
Shareholders/Board Remuneration
Board of
of Commissioners/ and Nomination GMS Fit and Proper Test*
Commissioners
President Director Committee
Nomination Proposal Submit Discussion in No
(Candidates of BCA proposals the RNC meeting
Board of Directors) to RNC
Yes
Submission
of candidate
proposals to the RNC
GMS Chairman Decree
through the Board
of Commissioners’
Decree The Chairman of
the GMS asked
for shareholder
approval
Approval is Preparation and
set forth in the fulfillment of the
minutes of the fit and proper
GMS (basis of fit test process
and proper test) requirement
PT Bank Central Asia Tbk
Acceptance of fit
and proper test
results
Note:
Submission of fit and proper test administrative documents to
Finished
OJK can be done since the RNC decision letter is obtained
The Board of Directors’ succession policy is prepared by BCA RNC. The policy regarding the succession of the Board of
Directors can be seen in the Remuneration and Nomination Committee section of this Annual Report.
6. Number and Composition of Members of the Board of Directors
BCA has complied with the provisions for the number and composition of members of the Board of Directors in
accordance with OJK Regulation No. 17 of 2023 concerning the Implementation of Governance for Commercial Banks,
which governs that banks are required to have at least 3 (three) members of the Board of Directors.
OJK provisions Implementation of Governance for
Implementation at BCA
Commercial Banks
Banks are required to have at least 3 (three) people of the BCA has 12 (twelve) members of the Board of Directors.
Board of Directors.
All members of the Board of Directors must be domiciled in All members of the Board of Directors are domiciled in
Indonesia Indonesia.
The Board of Directors must be led by a President Director Board of Directors of BCA is led by a President Director
As of December 31, 2024, the number of members of the Board of Directors of BCA is 12 (twelve) people, consisting of:
• 1 (one) President Director;
• 2 (two) Deputy President Directors;
• 1 (one) Director in charge of Compliance function; and
• 8 (eight) other Directors.
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From the composition above, BCA has a member of the Board of Directors who is also the Director in charge of the
Compliance function. The President Director comes from a party that is independent of the Controlling Shareholders.
Throughout 2024, there were no changes to the membership composition of the BCA Board of Directors, so that in
this Annual Report BCA does not present the reasons for the change in the composition of the Board of Directors.
The composition of the BCA Board of Directors membership for 2024 has been included in the Deed of Statement of
Meeting Decisions of PT Bank Central Asia Tbk No. 33 dated May 10 2022, made in the presence of Christina Dwi Utami,
S.H., M.Hum., M.Kn., Notary in Jakarta.
Composition of BCA Board of Directors members
Term of Office
Name Position Approval Letter No.
Based on AGMS
Jahja Setiaatmadja President Director 13/21/DPBB3/TPB3-7 dated June 17, 2011 2021 - 2026
Gregory Hendra Lembong Deputy President Director 10/KDK.03/2022 dated April 22, 2022 2022 - 2026
Armand Wahyudi Hartono Deputy President Director SR-106/D.03/2016 dated June 21, 2016 2021 - 2026
Tan Ho Hien/Subur/Subur Tan Director 4/69/DpG/DPIP/Rahasia dated August 2021 - 2026
13, 2002
Rudy Susanto Director SR-119/D.03/2014 dated July 21, 2014 2021 - 2026
Lianawaty Suwono*) Director (concurrently Director SR-137/D.03/2016 dated July 27, 2016 2021 - 2026
in charge of Compliance
function)
Santoso Director SR-143/D.03/2016 dated August 8, 2016 2021 - 2026
Vera Eve Lim Director SR-79/PB.12/2018 dated April 23, 2018 2021 - 2026
Haryanto T. Budiman Director 14/KDK.03/2020 dated May 14, 2020 2021 - 2026
Frengky Chandra Kusuma Director 39/KDK.03/2021 dated April 26, 2021 2021 - 2026
John Kosasih Director 40/KDK.03/2021 dated April 26, 2021 2021 - 2026
Antonius Widodo Mulyono Director 9/KDK.03/2022 dated April 22, 2022 2022 - 2026
Note:
*) Based on OJK Letter No. 8/KDK.03/2022 dated April 22, 2022, OJK approved the appointment of Ms. Lianawaty Suwono as Director in charge of Compliance Function.
Before carrying out their duties and functions in their 8. Division of Duties and Responsibilities of the
positions, all members of BCA’s Board of Directors Board of Directors
have obtained approval from Bank Indonesia and/ The division of duties and authorities among members
or OJK and passed the fit and proper test from of the Board of Directors is determined based on
Bank Indonesia and/or OJK. This is in accordance the Board of Directors’ decree with approval based
with BI Regulation No. 12/23/PBI/2010 concerning on the Board of Commissioners’ Decree No. 138/SK/
Fit and Proper Test and BI Circular Letter No. 13/8/ KOM/2022 dated August 15, 2022, concerning the
DPNP concerning Fit and Proper Test as amended Division of Duties and Responsibilities of the Board of
by Bank Indonesia Circular Letter No. 13/26/DPNP Directors and the Main Organizational Framework of
dated November 30, 2011 and OJK Regulation No.27/ PT Bank Central Asia Tbk and supplemented by:
POJK.03/2016 concerning Fit and Proper Test for Main 1. The Board of Directors Decree No. 138/SK/
Parties of Financial Services Institutions. In addition, DIR/2022 dated September 9, 2022 regarding
since supervision in the banking sector shifted from the Organizational Structure of Corporate
Bank Indonesia to OJK on December 31, 2013, the fit Communication & Social Responsibility;
and proper test process for the Board of Directors 2. Board of Directors Decree No. 149/SK/DIR/2022
after that date was carried out by OJK. dated September 27, 2022 concerning the
Organizational Structure of the CFO Office;
7. Terms of Office of the Board of Directors 3. The Board of Directors Decree No.176/SK/
Since the holding of the GMS that appointed relevant DIR/2022 dated October 20, 2022 concerning
members of the Board of Directors, the terms of the Organizational Structure of Wholesale
office for the BCA Board of Directors will end at the Transaction Banking Product Development
closing of the 5th GMS, without prejudice the authority (WBD).
of GMS to dismiss one or more members of the Board
of Directors any time before the position ends. BCA
Article of Association state that members of the Board
of Directors whose terms of office has ended can be
reappointed.
334 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
BCA's Organizational Structure and the supervision of the President Director and 2 (two) Vice President Directors can be
found on pages 60-61 in the Profile section of this Annual Report.
The details on the division of duties and responsibilities of Board of Directors are describe in the following table:
Field of Duties and Substitute Substitute Substitute
No. Name Position
Responsibilities Director I Director II Director III
1 Jahja Setiaatmadja President Director - Audit Internal *) (DAI) DRM DCH DJW
(JS) (PD)
- Anti-fraud (BAF) DCH DRM DJW
2 Gregory Hendra Deputy President - Strategic Information DPD2 DFC DTP
Lembong (HL) Director Technology (GTI)
(IT & Digital Banking)
- Operation Strategy & DPD2 DJW DTP
(DPD1) **)
Development (POL)
- Bank Digital BCA DTP DCB DFC
- Central Capital Ventura DTP DPD2 DFC
3 Armand W. Hartono Deputy President - Contact Center & Digital DJW DPD1 DTP
(AH) Director Services (CDG)
(Business Banking &
- E-Channel & Settlement DJW DPD1 DTP
Operation)
Services (CSV)
(DPD2)
- International Banking DPD1 DBK DJW
Services (GTP)
4 Subur Tan Credit Risk & Legal - Credit Risk Analysis (ARK) DJW PD DPD1
(ST) Director
- Credit Recovery (RPK) DJW PD DPD1
(DKR)
- Legal (GHK) DJW DRM DFC
5 Santoso Transaction Banking - Transaction Banking DCB DPD1 DPD2
(SL) Director Business Development
(DTP) (DTB)
- Transaction Banking DBK DPD1 DPD2
Partnership Solution
Development (DST)
- Transaction Banking DCB DPD2 DPD1
Product Development
(DPD)
- Wholesale Transaction DCB DPD2 DPD1
Banking Product
Development (WBD)
- Transaction Banking DCB DPD2 DPD1
Services (GLT)
6 Rudy Susanto Corporate Banking & - Corporate Banking & DKS DCB DPD1
(RS) Treasury Director Transaction (GBK)
(DBK) **)
- Corporate Finance (GCF) DKS DCB DPD1
- Corporate Branch (KCK) DKS DJW DCB
- Treasury (DTR) PD DKS DCB
- International Banking (DPI) PD DKS DCB
- BCA Finance Ltd. PD DKS DCB
(Hongkong)
- BCA Sekuritas DCB PD DKS
7 John Kosasih Commercial & SME - SME & Commercial DBK DJW PD
(JK) Banking Director Business (DKM)
(DKS) **)
- Cash Management (DCM) DTP DBK DPD1
- Credit Administration DKR DJW DBK
Services (SLK)
- Asuransi Umum BCA (BCA DCB DBK DKR
Insurance)
- BCA Syariah DJW DKR DCB
2024 Annual Report PT Bank Central Asia Tbk 335
Page 338
Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Field of Duties and Substitute Substitute Substitute
No. Name Position
Responsibilities Director I Director II Director III
8 Haryanto T. Consumer Banking - Consumer Finance (DBK) DKS DBK DTP
Budiman Director
- Individual Customer DTP DPD2 DKR
(HB) (DCB) **)
Business Development
(ICB)
- Wealth Management DTP DPD2 DKR
(DWM)
- Asuransi Jiwa BCA (BCA DKS DTP DBK
Life)
- BCA Finance DKS DKR DTP
- BCA Multi Finance DKS DKR DTP
9 Frengky Chandra Branch & Network - Regional & Branch Banking DKS DPD2 DFC
Kusuma Director Management (Regional &
(FC) (DJW) #) Branch)
- Branch Network DPD2 DKS DFC
Management (JPW)
- Procurement & Facility DKR DKS DTP
Management (LOG)
10 Antonius Widodo Risk Management - Risk Management *) (MRK) DCH DFC DKR
Mulyono Director
- Enterprise Security (ETS) DCH DPD2 DFC
(AW) (DRM) ***)
- Corporate Communication PD DJW DFC
& Social Responsibility
(CCR)
11 Lianawaty Suwono Compliance & - Compliance*) (SKK) DRM DFC DKR
(LS) Human Capital Mgmt.
- Human Capital DKR DRM DPD2
Director
Management (HCM)
(DCH) ***)
- Learning & Development DKR DRM DPD2
(DPP)
12 Vera Eve Lim Finance & Corporate - Corporate Strategy & DPD1 PD DPD2
(VL) Planning Director Planning (DCSP)
(DFC) ***)
- Industry & Economic DPD1 DBK DKR
Research (REI)
- Tax (TAX) DPD1 PD DBK
- Accounting (ACT) DPD1 PD DBK
- Investor Relations (IVR) DPD1 PD DPD2
- Environmental DPD1 PD DPD2
Sustainability Governance
(ESG)
Notes:
1 - Substitute Director reports to the Field Director for all actions taken/decisions made while replacing the Field Director.
- Substitute Director for the Credit field refers to the Credit Provisions Manual.
2 The Subsidiary Company Management Functions are regulated as follows:
*) Monitoring the implementation of the internal audit/risk management/compliance functions at Subsidiaries in the context of establishing integrated governance
and integrated risk management.
**) Performing the function of monitoring the business development of Subsidiaries
***) Performing the overall monitoring and alignment function of the Subsidiary Company as well as monitoring the financial performance of the Subsidiary Company.
The implementation of the above functions still considers the principles of a Limited Liability Company, where the Subsidiary Company is an independent separate
legal entity. The responsibility of the Board of Directors and/or Commissioners of the Subsidiary is to the GMS of the Subsidiary. The Parent Company as the
shareholder carries out its authority and function through the Subsidiary’s GMS.
3 #) Director of Regional and Branch Networks as daily implementer, advisor and supervisor of regional and branch management. The responsibility of the Regional
Office Head is to the Board of Directors.
336 PT Bank Central Asia Tbk 2024 Annual Report
Page 339
Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
9. Orientation Program for New Members of the Orientation Procedures
Board of Directors The orientation procedures for new members of the
An orientation program for new members of the Board Board of Directors may be conducted by:
of Directors is implemented to provide new members • Presentation by Work Units of Head Office
of the Board of Directors with an understanding of BCA (UCPC).
in a short amount of time so that the new members of • Visiting to various locations of BCA’s activities.
the Board of Directors can properly carry out their • Meetings and discussion with other members
duties and responsibilities as members of the Board of of the Board of Directors and Board of
Directors. Commissioners to discuss various issues in BCA
and other information needed.
The BCA Governance Guidelines concerning • Learning various information about BCA that is
Guidelines and Work Rules for the Board of Directors available electronically (online base).
and the Board of Directors Decree No. 189/SK/
DIR/2020 dated December 4, 2020 concerning The 2024 Orientation Implementation
Orientation for New Members of the Board of Directors Throughout 2024, there was no orientation program
and Board of Commissioners of PT Bank Central Asia implementation because there was no appointment
Tbk govern the Board of Directors orientation program of new members of the Board of Directors.
policy.
10. Training Programs to Improve the Competency
The orientation program includes, among others: of the Board of Directors
• Knowledge of BCA’s Vision, Mission, Values, BCA has a Directors training program policy that is
Strategy stated in the Board of Directors’ Charter.
• BCA’s medium and long-term plans (RBB for the
year); BCA requires members of the Board of Directors to
• BCA performance and financial; and participate in a training program at least once a year to
• Other cases relevant to the world of banking. improve competency and support the implementation
of members’ duties and obligations. The following are
the training programs in which members of the Board
of Directors participated throughout 2024:
Training Program Participated in by the Board of Directors Members in 2024
Media/
No Name Program Organizer Date Location
Form
1 Jahja BCA Trading Trends 2024 BCA January 11, Jakarta, Seminar/
Setiaatmadja 2024 Indonesia Conference
BCA Wealth Summit 2024 BCA September Jakarta, Seminar/
4-5, 2024 Indonesia Conference
ESG Training (Capacity Building) BCA November 7, Jakarta, Seminar/
Introduction and Implementation Plan for 2024 Indonesia Conference
IFRS S1 and S2 in Indonesian Banking
Indonesia Knowledge Forum XIII-2024: BCA November 12- Jakarta, Seminar/
"Linear to Limitless" 13, 2024 Indonesia Conference
2 Gregory Hendra Presidential Lecture Activity at the PPATK April 17, 2024 Jakarta, Seminar/
Lembong Peak Event “22 Years of Anti-Money Indonesia Conference
Laundering and Counter-Terrorism
Financing (APU PPT) Regime in Indonesia”
Asia Pacific Visa Client Forum Visa April 23-25, Thailand Seminar/
2024 Conference
Collaborative Analysis Regarding the PPATK May 7, 2024 Jakarta, Seminar/
2024 Election and Regional Elections Indonesia Conference
"Optimizing Synergy & Collaboration
to Realize the 2024 Simultaneous
Regional Elections that Support National
Integration
Risk Management Certificate Alignment BARA June 5-6, Jakarta, Seminar/
Seminar 2024 Indonesia Conference
20th CITIC CLSA ASEAN Forum CLSA June 11, 2024 Jakarta, Seminar/
Indonesia Conference
BCA Wealth Summit 2024 BCA September Jakarta, Seminar/
4-5, 2024 Indonesia Conference
2024 Annual Report PT Bank Central Asia Tbk 337
Page 340
Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Media/
No Name Program Organizer Date Location
Form
31st CITIC CLSA Hong Kong Conference CLSA September Hongkong Seminar/
9-13, 2024 Conference
Sibos Swift October 21- London Seminar/
24, 2024 Conference
Fortune Indonesia Brainstorm Fortune November 1, Jakarta, Seminar/
2024 Indonesia Conference
Tabletop Exercise (TTX) GSIT BCA November 6, Jakarta, Seminar/
2024 Indonesia Conference
ESG Training (Capacity Building) BCA November 7, Jakarta, Seminar/
Introduction and Implementation Plan for 2024 Indonesia Conference
IFRS S1 and S2 in Indonesian Banking
Indonesia Knowledge Forum XIII-2024: BCA November 12- Jakarta, Seminar/
"Linear to Limitless" 13, 2024 Indonesia Conference
Macquarie International Conference Macquarie November 18- Sydney Seminar/
Sydney 19, 2024 Conference
Forum 8th Belt and Road Services Business REANDA November 28, Jakarta, Seminar/
Forum 2024 Indonesia Conference
52nd ASEAN Banking Council Meeting & ASEAN December 4, Malaysia Seminar/
9th AGM Bankers 2024 Conference
Association
3 Armand Wahyudi BCA Trading Trends 2024 BCA January 11, Jakarta, Seminar/
Hartono 2024 Indonesia Conference
Refreshment BSMR: Strengthen 4 Pillars BCA January 15, Jakarta, Seminar/
Risk Control System toward Sustainable 2024 Indonesia Conference
Bank
Talkshow "Legal Consequences of Free Asosiasi March 5, 2024 Jakarta, Seminar/
Float Regulations for Listed Companies" Emiten Indonesia Conference
Indonesia
Risk Management Certificate Alignment BARA June 5-6, Jakarta, Seminar/
Seminar 2024 Indonesia Conference
Seminar on Strengthening the Quality of Ikatan Akuntan July 23, 2024 Jakarta, Seminar/
Financial Reporting of Listed Companies Indonesia Indonesia Conference
in Order to Support the Growth of the
Indonesian Economy and Capital Market
Investor Trust - CEO Forum Investor Trust August 29, Jakarta, Seminar/
2024 Indonesia Conference
ESG Training (Capacity Building) BCA November 7, Jakarta, Seminar/
Introduction and Implementation Plan for 2024 Indonesia Conference
IFRS S1 and S2 in Indonesian Banking
4 Tan Ho Hien/ BCA Trading Trends 2024 BCA January 11, Jakarta, Seminar/
Subur/Subur Tan 2024 Indonesia Conference
Creco Presentation Djarum January 31, Jakarta, Webinar
2024 Indonesia
ESG Training (Capacity Building) BCA November 7, Jakarta, Seminar/
Introduction and Implementation Plan for 2024 Indonesia Conference
IFRS S1 and S2 in Indonesian Banking
Indonesia Knowledge Forum XIII-2024: BCA November 12- Jakarta, Seminar/
"Linear to Limitless" 13, 2024 Indonesia Conference
5 Rudy Susanto Risk Management Certificate Alignment BARa June 5-6, Jakarta, Seminar/
Seminar 2024 Indonesia Conference
BCA Wealth Summit 2024 BCA September Jakarta, Seminar/
4-5, 2024 Indonesia Conference
ESG Training (Capacity Building) BCA November 7, Jakarta, Seminar/
Introduction and Implementation Plan for 2024 Indonesia Conference
IFRS S1 and S2 in Indonesian Banking
Indonesia Knowledge Forum XIII-2024: BCA November 12- Jakarta, Seminar/
"Linear to Limitless" 13, 2024 Indonesia Conference
6 Lianawaty Webinar: Connecting The Dots OJK January 11, Jakarta, Webinar
Suwono 2024 Indonesia
Refreshment BSMR: Strengthen 4 Pillars BCA January 15, Jakarta, Webinar
Risk Control System toward Sustainable 2024 Indonesia
Bank
Insurance Risk Management Workshop AAMAI February 2-3, Jakarta, Webinar
2024 Indonesia
338 PT Bank Central Asia Tbk 2024 Annual Report
Page 341
Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Media/
No Name Program Organizer Date Location
Form
Women in Education Breakfast Teach First February 15, Jakarta, Webinar
Indonesia 2024 Indonesia
Endeavor Ambassador Meetup - Two Endeavor February 22, Jakarta, Seminar/
Sides of The Coin: Investor and Investee 2024 Indonesia Conference
Talks
Risk Management Alignment Seminar BARA July 3, 2024 Jakarta, Seminar/
for Board of Directors: Improving the Indonesia Conference
Effectiveness of Risk Management
Implementation to Realize a Sustainable
Banking Industry
The 8th Asia-Pacific HR Forum Inti Pesan September Bali, Seminar/
4-5, 2024 Indonesia Conference
ESG Training (Capacity Building) BCA November 7, Jakarta, Seminar/
Introduction and Implementation Plan for 2024 Indonesia Conference
IFRS S1 and S2 in Indonesian Banking
Indonesia Knowledge Forum XIII-2024: BCA November 12- Jakarta, Seminar/
"Linear to Limitless" 13, 2024 Indonesia Conference
7 Santoso BCA Trading Trends 2024 BCA January 11, Jakarta, Seminar/
2024 Indonesia Conference
Launch of the Indonesian Economic Bank Indonesia January 31, Jakarta, Webinar
Report (LPI) 2023 2024 Indonesia
Perbanas: Seminar Outlook Perbanas March 22, Jakarta, Webinar
2024 Indonesia
Digital Brand Forum: Beyond Banking 13th Infobank April 1, 2024 Jakarta, Seminar/
Infobank Digital Brand Recognition 2024 Indonesia Conference
Kick Off and Seminar Bank Indonesia Bank Indonesia April 29, 2024 Jakarta, Seminar/
Hackathon 2024 Indonesia Conference
Risk Management Certificate Alignment BARa June 5-6, Jakarta, Seminar/
Seminar 2024 Indonesia Conference
Digital Transformation Indonesia Kominfo July 31, 2024 Jakarta, Seminar/
Conference and Expo 2024 Indonesia Conference
Indonesian Digital Finance Economy Bank Indonesia August 1, Jakarta, Seminar/
Festival 2024 2024 Indonesia Conference
ESG Training (Capacity Building) BCA November 7, Jakarta, Seminar/
Introduction and Implementation Plan for 2024 Indonesia Conference
IFRS S1 and S2 in Indonesian Banking
Indonesia Knowledge Forum XIII-2024: BCA November 12- Jakarta, Seminar/
"Linear to Limitless" 13, 2024 Indonesia Conference
8 Vera Eve Lim Refreshment BSMR: Strengthen 4 Pillars BCA January 15, Jakarta, Webinar
Risk Control System toward Sustainable 2024 Indonesia
Bank
McKinsey's CFO Breakfast Club: Building McKinsey's February 7, Jakarta, Seminar/
a Resilient Organization in the Age of 2024 Indonesia Conference
Uncertainty
Women in Education Breakfast Teach First February 15, Jakarta, Webinar
Indonesia 2024 Indonesia
18th EMEAP-BCBS-FSI Asia-Pacific high- BCBS March 6-7, Tokyo, Seminar/
level meeting on banking supervision di 2024 Jepang Conference
Tokyo
Perbanas: Seminar Literasi Keuangan Perbanas March 21, Jakarta, Webinar
2024 Indonesia
Perbanas: Seminar Outlook Perbanas March 22, Jakarta, Webinar
2024 Indonesia
OJK Financial Conglomerate: Hearing OJK April 25, 2024 Jakarta, Seminar/
Opinions on RPOJK KK and PIKK Indonesia Conference
Risk Management Certificate Alignment BARA June 5-6, Jakarta, Seminar/
Seminar 2024 Indonesia Conference
The Reuters NEXT APAC 2024 Reuters July 9, 2024 Singapura Seminar/
Conference
The Asian Banker - 2024 Finance Finance September 12, Jakarta, Seminar/
Indonesia Indonesia 2024 Indonesia Conference
ESG Training (Capacity Building) BCA November 7, Jakarta, Seminar/
Introduction and Implementation Plan for 2024 Indonesia Conference
IFRS S1 and S2 in Indonesian Banking
2024 Annual Report PT Bank Central Asia Tbk 339
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Media/
No Name Program Organizer Date Location
Form
Indonesia Knowledge Forum XIII-2024: BCA November 12- Jakarta, Seminar/
"Linear to Limitless" 13, 2024 Indonesia Conference
BCA: CFO Talk - Effective Tax Planning BCA December 11, Jakarta, Seminar/
2024 Indonesia Conference
9 Haryanto T. BCA Trading Trends 2024 BCA January 11, Jakarta, Seminar/
Budiman 2024 Indonesia Conference
BCA Wealth Summit 2024 BCA September Jakarta, Seminar/
4-5, 2024 Indonesia Conference
ESG Training (Capacity Building) BCA November 7, Jakarta, Seminar/
Introduction and Implementation Plan for 2024 Indonesia Conference
IFRS S1 and S2 in Indonesian Banking
Indonesia Knowledge Forum XIII-2024: BCA November 12- Jakarta, Seminar/
"Linear to Limitless" 13, 2024 Indonesia Conference
10 Frengky Chandra Refreshment BSMR: Strengthen 4 Pillars BCA January 15, Jakarta, Webinar
Kusuma Risk Control System toward Sustainable 2024 Indonesia
Bank
SMR Recertification BCA February 2, Jakarta, Webinar
2024 Indonesia
Risk Management Alignment Seminar for Perbanas May 7-8, 2024 Jakarta, Seminar/
Directors Indonesia Conference
BCA Wealth Summit 2024 BCA September Jakarta, Seminar/
4-5, 2024 Indonesia Conference
ESG Training (Capacity Building) BCA November 7, Jakarta, Seminar/
Introduction and Implementation Plan for 2024 Indonesia Conference
IFRS S1 and S2 in Indonesian Banking
Indonesia Knowledge Forum XIII-2024: BCA November 12- Jakarta, Seminar/
"Linear to Limitless" 13, 2024 Indonesia Conference
11 John Kosasih BCA Trading Trends 2024 BCA January 11, Jakarta, Webinar
2024 Indonesia
Forum Indonesia Data and Economic Katadata March 3, 2024 Jakarta, Seminar/
Confrerence (IDE) Katadata 2024: Indonesia Conference
Navigating Tomorrow
Creco Presentation by Bp. Chatib Basri Djarum April 26, 2024 Jakarta, Seminar/
and Bp. Raden Pardede Indonesia Conference
Refreshment Treasury Level Advance ACI FMA April 27, 2024 Jakarta, Seminar/
Indonesia Indonesia Conference
Sharing Session "Accelerating the Kementerian April 30, 2024 Jakarta, Seminar/
Development of Electric-Based Public Hubungan Indonesia Conference
Transportation Ecosystems in the
Jabodetabek Area"
Lunch Together Management "Meet BCA May 21, 2024 Jakarta, Seminar/
Generation Z: Future Focus for Business Indonesia Conference
Sustainability"
Risk Management Certificate Alignment BARa June 5-6, Jakarta, Seminar/
Seminar 2024 Indonesia Conference
Creco Presentation by Mr. Chatib Basri Djarum August 13, Jakarta, Seminar/
and Mr. Raden Pardede 2024 Indonesia Conference
BCA Wealth Summit 2024 BCA September Jakarta, Seminar/
4-5, 2024 Indonesia Conference
ESG Training (Capacity Building) BCA November 7, Jakarta, Seminar/
Introduction and Implementation Plan for 2024 Indonesia Conference
IFRS S1 and S2 in Indonesian Banking
Indonesia Knowledge Forum XIII-2024: BCA November 12- Jakarta, Seminar/
"Linear to Limitless" 13, 2024 Indonesia Conference
12 Antonius Widodo BCA Trading Trends 2024 BCA January 11, Jakarta, Webinar
Mulyono 2024 Indonesia
Forum Indonesia Data and Economic Katadata March 5, 2024 Jakarta, Seminar/
Confrerence (IDE) Katadata 2024: Indonesia Conference
Navigating Tomorrow
Risk Management Certificate Alignment BARA June 5-6, Jakarta, Seminar/
Seminar 2024 Indonesia Conference
BCA Young Community Festival BCA August 30, Jakarta, Seminar/
2024: Welcoming A Decade of Young 2024 Indonesia Conference
Community With BCA
340 PT Bank Central Asia Tbk 2024 Annual Report
Page 343
Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Media/
No Name Program Organizer Date Location
Form
BCA Wealth Summit 2024 BCA September Jakarta, Seminar/
4-5, 2024 Indonesia Conference
Tabletop Exercise (TTX) GSIT BCA November 6, Jakarta, Seminar/
2024 Indonesia Conference
ESG Training (Capacity Building) BCA November 7, Jakarta, Seminar/
Introduction and Implementation Plan for 2024 Indonesia Conference
IFRS S1 and S2 in Indonesian Banking
Indonesia Knowledge Forum XIII-2024: BCA November 12, Jakarta, Seminar/
"Linear to Limitless" 2024 Indonesia Conference
Lunch Together Management: How To BCA November 19, Jakarta, Seminar/
Adapt with Social Media Nowadays 2024 Indonesia Conference
In accordance with OJK Regulation No. 24 of 2022 concerning the Development of the Quality of Commercial Bank
Human Resources and OJK Circular Letter No. 28/SEOJK.03/2022 concerning Risk Management Certification for
Commercial Bank Human Resources, all members of the Board of Directors have Risk Management Certification and/
or Refreshment in accordance with applicable regulations.
11. Ownership of the Board of Directors which b. Members of the Board of Directors’ obligation
Amounting to 5% or More of Paid-Up Capital to disclose to BCA information on ownership
BCA policy in terms of reporting share ownership of and changes of BCA’s shares within 3 (three)
members of the board of Directors refers to Article working days at the latest after ownership or any
32 of OJK Regulation concerning the Implementation change in ownership of Public Company shares
of Governance for Commercial Banks, OJK Circular occurs. This Policy on reports of ownership or
Letter No.13/SEOJK.03/2017 concerning the any changes in share ownership of the Board of
Implementation of Governance for Commercial Directors is in accordance with OJK Regulation
Banks and Article 2 of OJK Regulation on Changes in on Changes of Ownership Shares Reports and
Ownership Shares Reports. has been socialized through Memorandum No.
075/MO/ESG/2024 dated August 6, 2024 by the
Implementation for Reporting Policy of Ownership or Corporate Secretary to all Board of Directors and
Any Change of Share Ownership Board of Commissioners.
Guidelines and Code of Conduct of the Board of
Directors have regulated among others: BCA has submitted reports on any changes to the
a. Members of the Board of Directors’ obligation to share ownership of the Board of Directors in 2024 to
disclose share ownership of 5% (five percent) or the OJK through the e-reporting system as a form of
more of paid-up capital, which includes the type BCA’s transparency and compliance with internal and
and number of shares in BCA, other banks, non- external policies regarding share ownership reports.
bank financial institutions and other companies,
which are domiciled in and outside the country. In
addition, BCA has also held and stored a Special
List as regulated in Article 50 of the Limited
Liability Company Law Number 40 of 2007.
Table of Share Ownership of the Board of Directors Amounting to 5% or more as of December 31, 2024
Share Ownership of the Board of Directors Amounting to 5% or more at:
Name Non-Bank Financial
BCA Other Bank Other Companies
Institution
Jahja Setiaatmadja - - - √
Gregory Hendra Lembong - - - √
Armand Wahyudi Hartono - - - √
Tan Ho Hien/Subur/Subur Tan - - - -
Rudy Susanto - - - -
Lianawaty Suwono - - - -
Santoso - - - -
2024 Annual Report PT Bank Central Asia Tbk 341
Page 344
Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Share Ownership of the Board of Directors Amounting to 5% or more at:
Name Non-Bank Financial
BCA Other Bank Other Companies
Institution
Vera Eve Lim - - - -
Haryanto T. Budiman - - - -
Frengky Chandra Kusuma - - - -
John Kosasih - - - -
Antonius Widodo Mulyono - - - -
Note:
√ own shares with an amount of 5% or more..
All members of the Board of Directors do not have indirect ownership of BCA shares. BCA Board of Directors own
0.052% of BCA shares cumulatively. The following are details of BCA share ownership along with the percentage at
the beginning and end of the financial year by members of the Board of Directors directly in 2024.
Total BCA Share Ownership by the Board of Directors in 2024
Number of Ownership at
Number of Ownership at
Board of Directors Percentage the End of the Year Percentage
the Beginning of the Year
(as of December 31, 2024)
Jahja Setiaatmadja 32,818,853 0.027% 33,850,785 0.027%
Gregory Hendra Lembong 784,719 0.001% 977,547 0.001%
Armand Wahyudi Hartono 4,256,065 0.003% 4,256,065 0.003%
Tan Ho Hien/Subur/Subur Tan 11,351,057 0.009% 10,710,172 0.009%
Rudy Susanto 2,518,448 0.002% 2,908,127 0.002%
Lianawaty Suwono 2,021,880 0.002% 2,264,685 0.002%
Santoso 2,422,053 0.002% 2,690,902 0.002%
Vera Eve Lim 1,912,261 0.002% 2,212,324 0.002%
Haryanto T. Budiman 561,695 0.000% 776,099 0.001%
Frengky Chandra Kusuma 1,891,049 0.002% 2,107,984 0.002%
John Kosasih 504,861 0.000% 731,076 0.001%
Antonius Widodo Mulyono 130,780 0.000% 262,511 0.000%
TOTAL 61,173,721 0.050% 63,748,277 0.052%
12. Concurrent Positions of Members of the Board of Directors
a. Throughout 2024, BCA has ensured that members of the Board of Directors comply with the provisions regarding
concurrent position of the Board of Directors, as outlined in Article 6 of OJK Regulation No. 33/POJK.04/2014
concerning the Board of Directors and Board of Commissioners of Issuers or Public Companies and OJK Regulation
concerning the Implementation of Governance for Commercial banks.
b. All members of BCA’s Board of Directors do not hold concurrent positions as members of the Boards of Directors,
Board of Commissioners, or Executive Officers of other banks, companies, and/or institutions (excluding
concurrent positions if the Board of Directors is responsible for supervising participation in subsidiary companies,
performs functional duties as a member of the Board of Commissioners of non-bank subsidiary companies
controlled by BCA).
Table of Concurrent Positions of BCA’s Board of Directors in 2024
Positions in Other
Position in Other
Name Position in BCA Listed Companies/ Business Field
Bank
Institutions
Jahja Setiaatmadja President Director - - -
Gregory Hendra Lembong Deputy President - - -
Director
Armand Wahyudi Hartono Deputy President - - -
Director
342 PT Bank Central Asia Tbk 2024 Annual Report
Page 345
Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Positions in Other
Position in Other
Name Position in BCA Listed Companies/ Business Field
Bank
Institutions
Tan Ho Hien/Subur/Subur Tan Director - - -
Rudy Susanto Director - - -
Lianawaty Suwono Director (concurrently - - -
Director in charge of
Compliance function)
Santoso Director - - -
Vera Eve Lim Director - - -
Haryanto T. Budiman Director - - -
Frengky Chandra Kusuma Director - - -
John Kosasih Director - - -
Antonius Widodo Mulyono Director - - -
Table of the Board of Directors Concurrent Positions in Committees at BCA
Term of Office
Name Position in BCA Position in the Committee
Based on AGMS
Jahja President Director 2021-2026 • Chairman of ALCO
Setiaatmadja • Chairman of the Credit Policy Committee
• Permanent Members of the Corporate Credit Committee
• Permanent Member of the Risk Management Committee
• Permanent Member of the Integrated Risk Management Committee
Gregory Deputy President 2021-2026 • Chairman of the Information Technology Steering Committee
Hendra Director • ALCO Member
Lembong (IT & Digital • Member of the Credit Policy Committee
Banking) • Permanent Members of the Corporate Credit Committee
• Permanent Member of the Risk Management Committee
• Permanent Member of the Integrated Risk Management Committee
Armand Deputy President 2021-2026 • ALCO Member
Wahyudi Director (Business • Permanent Member of the Risk Management Committee
Hartono Banking & • Permanent Member of the Integrated Risk Management Committee
Operation)
Tan Ho Hien/ Credit Risk & Legal 2021-2026 • Chairman of Corporate Credit Committee
Subur/Subur Director • ALCO Member
Tan • Member of the Credit Policy Committee
• Permanent Member of Commercial Credit Committee
• Permanent Member of the Risk Management Committee
• Permanent Member of the Integrated Risk Management Committee
Santoso Transaction 2021-2026 • ALCO Member
Banking Director • Member of the Credit Policy Committee
• Permanent Member of the Risk Management Committee
• Permanent Member of the Integrated Risk Management Committee
Rudy Susanto Corporate Banking 2021-2026 • ALCO Member
& Treasury Director • Member of the Credit Policy Committee
• Permanent Members of the Corporate Credit Committee
• Permanent Member of the Risk Management Committee
• Permanent Member of the Integrated Risk Management Committee
John Kosasih Commercial & SME 2021-2026 • ALCO Member
Banking Director • Member of the Credit Policy Committee
• Permanent Member of the Risk Management Committee
• Permanent Member of Commercial Credit Committee
• Permanent Member of the Integrated Risk Management Committee
Haryanto T. Consumer Banking 2021-2026 • ALCO Member
Budiman Director • Member of the Credit Policy Committee
• Permanent Member of the Risk Management Committee
• Permanent Member of the Integrated Risk Management Committee
Frengky Branch & Network 2021-2026 • ALCO member
Chandra Director • Permanent Member of the Risk Management Committee
Kusuma • Permanent Member of the Integrated Risk Management Committee
• Member of the Information Technology Steering Committee
2024 Annual Report PT Bank Central Asia Tbk 343
Page 346
Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Term of Office
Name Position in BCA Position in the Committee
Based on AGMS
Antonius Risk Management 2022-2026 • Chairman of the Risk Management Committee
Widodo Director • Chairman of the Integrated Risk Management Committee
Mulyono • ALCO Member
• Member of the Credit Policy Committee
• Member of the Information Technology Steering Committee
Lianawaty Compliance & 2021-2026 • Member of the Credit Policy Committee
Suwono Human Capital • Permanent Member of the Risk Management Committee
Mgmt. Director • Permanent Member of the Integrated Risk Management Committee
Vera Eve Lim Finance & 2021-2026 • ALCO member
Corporate Planning • Permanent Member of the Risk Management Committee
Director • Permanent Member of the Integrated Risk Management Committee
13. Executive Committee under the Board of Assessment Result of Committees under the Board of
Directors' Implementation of Duties and Directors
Evaluation Report a. Asset Liability Committee (ALCO)
The Board of Directors’ Executive Committees are Throughout 2024, ALCO has realized the
formed by the Board of Directors to contribute to the following work programs:
fulfillment of BCA’s business needs in accordance 1) Evaluate the strategy and the position of
with the duties and responsibilities of the Board of BCA’s assets and liabilities in accordance
Directors. with the objective of liquidity risk
management, interest rate, and exchange
Currently there are 7 (seven) Executive Committees rate.
under the Board of Directors, namely: 2) Evaluate and establish the changes in funds
a. Asset Liability Committee (ALCO) and loans interest rates, credit base interest
b. Risk Management Committee (RMC) rate, and the limit related to Asset Liability
c. Integrated Risk Management Committee (IRMC) Management (ALM).
d. Credit Policy Committee (CPC) 3) Review the results of the simulation of the
e. Credit Committee (CC) profit/loss in accordance with ALM strategy
f. Information Technology Steering Committee of BCA.
(ITSC) 4) Establish policy and strategy in the
g. Personnel Case Advisory Committee (PCAC) arrangement of balance sheet structure and
investment portfolio.
The Board of Directors conducted assessment to
the Executive Committees of the Board of Directors b. Risk Management Committee (RMC)
above with the following conditions: The realization of the RMC work program in
carrying out its management duties in 2024 is as
Criteria: follows:
The evaluation criteria of the Board of Directors’ 1) Providing information on the changes in
Executive Committees are based on work guideline Secondary Reserves limits and mandatory
and code of conduct, as well as the realization of credit interest rate transparency.
duties by each committee. 2) Providing Information on the proposed
changes to risk appetite and risk tolerance.
Process: 3) Providing Information on the OJK Regulation
Assessment is carried out by the Board of Directors regarding the Determination of Supervisory
collegially once per year. Status and Handling of Commercial Bank
Problems and the results of BCA's digital
Results: maturity assessment in 2023.
The Board of Directors assess that throughout 2024, 4) Informing the proposed results of the
all Executive Committees of the Board of Directors calculation of the Prime Lending Rate as of
contributed in accordance with their duties and October 31, 2024.
responsibilities and provided useful opinions,
thereby assisting the Board of Directors in carrying c. Integrated Risk Management Committee (IRMC)
out its duties. The committees actively discuss work Throughout 2024, the IRMC has completed the
programs on a regular basis in accordance with following work programs:
developments in BCA’s condition, the economy, 1) Providing information on the Semester II
and applicable regulations. The Board of Directors – 2023 BCA Financial Conglomerate (KK)
expresses appreciation to these committees for their Integrated Risk Profile Report.
assistance and dedication.
344 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
2) Providing information on the Semester I 3) Conduct assessment and monitoring:
– 2024 BCA Financial Conglomerate (KK) a) Realization of MPP and IT Budget in
Integrated Risk Profile Report. 2024
3) Informing BCA Digital Integrated Risk Limit b) Strategic steps to improve IT service
suggestion. levels and optimize disaster recovery.
4) Informing Reputation Risk. c) Follow-up to mitigate cyber-attacks.
d. Credit Policy Committee (CPC) g. Personnel Case Advisory Committee (PCAC)
Throughout the implementation of its PCAC has realized a work program that includes
management duties in 2024, the CPC has providing input in the form of information, analysis,
implemented a work program, namely providing and considerations to make recommendations
recommendations related to: to the Board of Directors for several cases of
1) Corporate & Commercial Credit Category violations committed by employees that require a
Review. decision from the Board of Directors for follow-up
2) Corporate Cash Collateral and Currency settlement in the form of imposition of sanctions
Equivalent Cash Collateral Loans. and/or improvement of operational systems and
procedures and/or legal processing of cases.
e. Credit Committee (CC)
Throughout 2024, CC has provided decisions or 14. Board of Directors' Implementation Duties
recommendations regarding the provision of credit Report
(new, additional, reduction and/or extension, general The complete Report on the Implementation of the
credit restructuring, and COVID-19 restructuring) Board of Directors’ Duties is presented on page 24 of
according to authority limits, including determining/ the Board of Directors Report section of this Annual
changing the credit structure. Report.
f. Information Technology Steering Committee The policies and implementation of the Board of
(ITSC) Directors meetings, including joint meetings with
As of December 31, 2024, ITSC realized the the Board of Commissioners, and the full attendance
following work programs: rate for each member of the Board of Directors
1) Evaluate and supervise the IT initiatives are presented on page 350 and 355 of the Board
implemented to support the delivery of IT of Commissioners, Board of Directors, and Joint
strategic projects, as follows: Meetings sections of this Annual Report.
a) Update on the progress of the
construction of the new data center to 15. Performance Evaluation of Members of the
support BCA's IT infrastructure needs in Board of Directors
the long term, including the migration Evaluation of the performance of members of the
strategy to the new data center, as well Board of Directors with regards to the procedure for
as new aspects that have a positive implementing performance appraisal, the criteria
impact on the availability of BCA used, and the party conducting the assessment can
services. be found on page 361 of the Performance Evaluation
b) Progress of strategic projects such as: of the Board of Commissioners and the Board of
myBCA Individual, myBCA Business, Directors section of this Annual Report.
and others.
c) IT infrastructure modernization project,
BI Fast connector migration.
d) Disaster Recovery Process using
Tabletop Scenario.
e) Services for Subsidiaries.
2) Evaluate and supervise:
a) implementation of strategic IT projects
that are in line with BCA's strategic
corporate objectives and BCA's
business direction.
b) Implementation of compliance with
regulatory rules.
2024 Annual Report PT Bank Central Asia Tbk 345
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
MEETINGS OF THE BOARD OF Directors for the following year and upload it
COMMISSIONERS, THE BOARD OF on the BCA website.
DIRECTORS, AND JOINT MEETINGS b. At a scheduled meeting, meeting materials
are distributed to participants no later than
1. Meeting of the Board of Commissioners 5 (five) working days before the meeting is
held (H-5).
Legal Basis c. In the event that a meeting is held outside
In organizing Board of Commissioners meetings, BCA the schedule, the meeting materials shall be
refers to the following rules: submitted to the meeting participants no
a. OJK Regulations. later than before the meeting is held.
b. BCA's Articles of Association 5. Meeting Resolutions and Quorum:
c. Board of Commissioners Charter. a. The meeting of the Board of Commissioners
is valid and has the authority to make binding
Meeting Policy decisions if more than ²⁄₃ (two-third) of
The Board of Commissioners Meeting Policy, which is the total number of members of the Board
outlined in the Board of Commissioners Charter and/or of Commissioners currently in office are
Articles of Association, governs, among other things: present or represented at the meeting.
1. Meeting Mechanism b. Decision-making at the Board of Directors
Board of Commissioners meetings can be held meeting must be made first through
in person or virtually via teleconference media, deliberation for consensus.
video conferences, or other forms of electronic c. Decisions are made based on the affirmative
media. votes of more than ½ (one-half) of the total
2. Meeting Frequency: valid votes cast at the meeting in question if
a. Board of Commissioners meetings must be the deliberations do not reach a consensus.
held periodically at least once every 2 (two) d. The Board of Commissioners may also
months or 6 (six) times per year. make valid decisions without summoning a
b. Each member of the Board of Commissioners meeting of the Board of Commissioners if
must attend at least 75 % (seventy-five all members of the Board of Commissioners
percent) of the meetings in 1 (one) year. have been notified in writing, have given
3. Meeting Summons: their approval to the proposals submitted,
a. There is no need to summon a meeting for and have signed the agreement. Decisions
meetings of the Board of Commissioners made in this manner have the same power
that have been scheduled or are based on as those made formally at a meeting of the
the decision of the previous meeting of the Board of Commissioners.
Board of Commissioners. e. All decisions made at Board of Commissioners
b. For Board of Commissioners meetings held meetings are binding and the responsibility
outside of the predetermined schedule, the of all Board of Commissioners members.
summons must be made no later than 1 (one) 6. A member of the Board of Commissioners may
day before the meeting, or in a shorter time only be represented by another member of the
if it is urgent. Board of Commissioners on the basis of a special
c. The summon for a meeting of the Board of power of attorney drawn up specifically for the
Commissioners must include the agenda/ purpose of the meeting.
topic, date, time, mechanism and place of 7. Board of Commissioners Minutes of Meeting
the meeting and attach meeting materials. a. The minutes of the Board of Commissioners
d. The summons for Board of Commissioners meeting must include the results of the
meetings must be made in writing and meeting, which must be signed by all
delivered to each member of the Board of members of the Board of Commissioners
Commissioners via registered mail, courier present.
service, electronic mail (e-mail), or other b. Minutes of Meeting must be properly
means deemed effective by the Board of documented in accordance with applicable
Commissioners. regulations.
4. Meeting Materials and Scheduling: c. In the event of a dissenting opinion is
a. Prior to the end of the financial year, the expressed, it must be clearly stated in the
Board of Commissioners must schedule a minutes of the Board of Commissioners
meeting of the Board of Commissioners meeting, including the reasons for the
as well as a meeting of the Board of dissent.
Commissioner by inviting the Board of
346 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Glossary of Board of Commissioners and Board of Board of Directors
Directors Meetings Description Name
JS Jahja Setiaatmadja
Board of Commissioners
HL Gregory Hendra Lembong
Description Name
AH Armand Wahyudi Hartono
DES Djohan Emir Setijoso
ST Tan Ho Hien/Subur atau Subur Tan
TK Tonny Kusnadi
RS Rudy Susanto
CH Cyrillus Harinowo
LS Lianawaty Suwono
RP Raden Pardede
SL Santoso
SS Sumantri Slamet
VL Vera Eve Lim
HB Haryanto T. Budiman
FC Frengky Chandra Kusuma
JK John Kosasih
AW Antonius Widodo Mulyono
Implementation
Throughout 2024, BCA has held 44 (forty-four) times Board of Commissioners meetings both in person and via
teleconference. BCA has complied with the OJK Regulation provision regarding the minimum frequency of Board of
Commissioners meetings.
Frequency of Attendance, Schedule, and Meeting Agenda of the Board of Commissioners
The Board of Commissioners meeting schedule for 2024 has been published on the BCA website, which can be
accessed at https://www.bca.co.id/en/tentang-bca/tata-kelola/struktur-organisasi.
The following is the schedule and agenda for the Board of Commissioners meetings organized in 2024:
Meeting
No. Meeting Agenda DES TK CH RP SS
Date
1 January 10, • Presentation on DAI Quality Assurance and Maturity Assessment √ √ √ Sick √
2024 • Discussion on the Appointment of the Head of Internal Audit Division Leave
• Weekly Credit Decision Review
2 January 17, • Internal Audit Division Presentation regarding 2023 Work Realization √ √ √ √ √
2024 • Discussion on the Appointment of Members of the Integrated
Governance Committee
• Discussion of the Board of Commissioners’ Self-Assessment
• Weekly Credit Decision Review
3 January 24, • Discussion of Final Dividend 2023 √ √ √ √ √
2024 • Review of Weekly Credit Decisions
4 January 31, • DIB Presentation regarding Developments in the Trade Finance Sector √ √ √ √ √
2024 • Discussion regarding Board of Directors KPI
• Weekly Credit Decision Review
5 February 7, • Discussion of the Board of Commissioners with the Remuneration and √ √ √ √ √
2024 Nomination Committee regarding the Board of Commissioners and
Board of Directors’ Tantiem Proposal
• Discussion of Group Limits and Credit Granting Limits to PMA
• Weekly Credit Decision Review
6 February • Appointment of leader of BCA AGMS 2024 √ √ √ √ √
21, 2024 • Presentation of Risk Monitoring Committee regarding Quarterly Report
IV/2023
• Presentation of Audit Committee regarding Quarterly Report IV/2023
• Weekly Credit Decision Review
7 February • Discussion with RNC regarding remuneration payment √ √ √ √ √
28, 2024 • DBKM Presentation regarding Impact of Digitalization on Trade Centers
• Weekly Credit Decision Review
8 March 6, • Discussion on Credit Limits and Credit Application √ √ √ √ √
2024 • Weekly Credit Decision Review
2024 Annual Report PT Bank Central Asia Tbk 347
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Meeting
No. Meeting Agenda DES TK CH RP SS
Date
9 March 13, • Discussion on the Appointment of Members of the Integrated √ √ √ √ √
2024 Governance Committee
• Weekly Credit Decision Review
10 March 14, Discussion with the Remuneration and Nomination Committee √ √ √ √ √
2024
11 March 20, • Reporting of Integrated Governance Committee Semester II/2023 to √ √ √ √ √
2024 the Board of Commissioners of the Main Entity
• KPI PKKC 2024
12 March 27, • GSIT Presentation regarding Communication Services at BCA √ √ √ √ √
2024 • Weekly Credit Decision Review
13 April 03, • Presentation of Compliance Division regarding Implementation of APU- √ √ √ √ √
2024 PPT PPPSPM at BCA period Semester II-2023
• Weekly Credit Decision Review
14 April 17, • Discussion between the Board of Commissioners and Risk Management √ √ √ √ √
2024 Discussion regarding BOC Reporting Package
• Weekly Credit Decision Review
15 April 24, • Internal Discussion of the Board of Commissioners √ √ Official √ √
2024 • Weekly Credit Decision Review Travel
16 May 8, • Presentation of International Banking Division regarding Development √ √ √ √ √
2024 of Export Import Financing
• Weekly Credit Decision Review
17 May 15, • Risk Monitoring Committee Presentation regarding Quarterly Report √ √ √ √ √
2024 I-2024
• Audit Committee Presentation regarding Quarterly Report I-2024
• Internal Discussion of the Board of Commissioners
• Weekly Credit Decision Review
18 May 17, Discussion of the Board of Commissioners with the Board of Directors, √ √ √ √ √
2024 GARK, GBK and GCF regarding Managing Concentration Risk
19 May 29, • Internal Discussion of the Board of Commissioners √ √ √ √ √
2024 • Weekly Credit Decision Review
20 June 5, • Presentation of Treasury Division regarding Money Market Update √ √ √ √ √
2024 • Weekly Credit Decision Review
21 June 12, • Consultant Presentation regarding Global Economic Development √ √ √ √ √
2024 • DWM Presentation
• Weekly Credit Decision Review
22 June 19, • GARK and GBK Presentation regarding Credit Application √ √ √ √ √
2024 • DCSP Presentation regarding Midyear Financial Forecast
• Appointment of Integrated Governance Committee Members
• Weekly Credit Decision Review
23 June 20, Review Risk Appetite Statement √ √ Official Sick √
2024 Travel Leave
24 June 26, • Presentation of MRK regarding Study of Monitoring of LLL Limit of √ √ √ √ √
2024 Related Parties and other than Related Parties
• Risk Appetite Framework
• Review of Weekly Credit Decisionsn
25 July 3, • Internal Discussion of the Board of Commissioners √ √ √ √ √
2024 • Weekly Credit Decision Review
26 July 10, • Internal Discussion of the Board of Commissioners √ √ √ √ √
2024 • Weekly Credit Decision Review
27 July 17, • Internal Audit Division Presentation regarding Realization of Work √ √ √ √ √
2024 Semester I-2024
• Weekly Credit Decision Review
28 July 24, • DCSP Presentation regarding Competitive Assessment √ √ √ √ √
2024 • Weekly Credit Decision Reviewn
29 July 31, • GARK Presentation regarding Credit Application √ √ √ √ √
2024 • Weekly Credit Decision Review
30 August 7, • GARK Presentation regarding Telecommunication Industry Update √ √ √ √ √
2024 • GSIT Presentation
• Weekly Credit Decision Review
31 August 14, • Automotive Industry Development √ √ √ √ √
2024 • 2024 Trend in New Tech Update
• Weekly Credit Decision Review
348 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Meeting
No. Meeting Agenda DES TK CH RP SS
Date
32 August 28, • Risk Monitoring Committee Presentation regarding Q2/2024 Report √ √ √ √ √
2024 • Audit Committee Presentation regarding Q2/2024 Report
• Weekly Credit Decision Review
33 September • GARK Presentation regarding Credit Application √ √ √ √ √
11, 2024 • Steel Industry Update
• Weekly Credit Decision Review
34 September • Dismissal of Integrated Governance Committee Members of BCA Multi √ √ √ √ √
18, 2024 Finance Representative
• Reporting of Integrated Governance Committee Semester I/2024 to
the Board of Commissioners of the Main Entity
• Approval of Related Party Credit Facility Application
• Weekly Credit Decision Review
35 September • Compliance Division Presentation regarding Implementation of APU- √ √ √ Sick √
25, 2024 PPT PPPSPM at BCA for Semester I-2024 Leave
• Discussion of the Board of Commissioners with GARK and GBK
regarding Credit Limit
• GARK Presentation regarding Credit Application
• Weekly Credit Decision Review
36 October 2, • GARK Presentation regarding the Mining Industry Group Update √ √ √ √ √
2024 • Weekly Credit Decision Review
37 October • GARK Presentation regarding Credit Application √ √ √ √ √
23, 2024 • Board of Commissioners Internal Discussion
• Weekly Credit Decision Review
38 October • Approval of BCA Interim Dividend 2024 √ √ √ √ √
30, 2024 • DCSP Presentation regarding 2024 Outlook and 1st Draft Consolidated
Budget 2025
• GARK and GBK Presentation regarding the Textile Industry Group
Update
• Weekly Credit Decision Reviewn
39 November Risk Management Division Presentation regarding: √ √ √ √ √
6, 2024 • Update of PT BCA Tbk Recovery Action Plan for 2025
• Resolution Plan for PT BCA Tbk for 2024
40 November • ESG Group Presentation regarding BCA Annual General Meeting of √ √ √ √ √
18, 2024 Shareholders Plan for Fiscal Year 2024 (AGMS 2025)
• Approval of Sustainable Finance Action Plan (RAKB) for 2025
• Presentation of DCSP regarding 2nd Draft Budget 2025and 2025-2027
Bank Business Plan (RBB)
41 November • Presentation of SKPK regarding to Credit Settlement √ √ √ √ √
20, 2024 • Presentation of Risk Monitoring Committee regarding Quarterly Report
III-2024
• Presentation of Audit Committee regarding Quarterly Report III-2024
• Weekly Credit Decision Review
42 December • Approval of Related Party Credit Facility Application √ Sick √ √ √
4, 2024 • Weekly Credit Decision Review Leave
43 December • Presentation of Risk Management Division regarding Cyber and
IT √ √ √ Sick √
11, 2024 Security Risk Management Framework Leave
• Discussion of Board of Commissioners with Human Capital
Management Division
• Weekly Credit Decision Review
44 December • RMC Presentation on Analysis of IT Strategic Plan √ √ √ √ √
18, 2024 • Presentation of Economic and Industrial Research Group regarding
Regional Economic Development
• Weekly Credit Decision Review
Number of Meetings 44
Number of Attendance 44 43 42 40 44
Percentage of Attendance 100% 97.7% 95.4% 90.1% 100%
2024 Annual Report PT Bank Central Asia Tbk 349
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Board of Commissioners Meeting Schedule for 2025 3. Meeting Summons:
BCA has scheduled the following Board of a. Summons for the Board of Directors
Commissioners meetings in 2025: meeting is made by the Board of Directors
Month Date Bureau via e-mail to all Directors no later than
5 (five) working days before the meeting is
January 8, 15, 22
held (H-5).
February 5, 12, 19, 26 b. For Board of Directors meetings that have
March 5, 19 been scheduled or are based on the decisions
April 9, 16, 23, 30 of the previous Board of Directors meeting,
there is no need to summon a meeting.
May 7, 14 21, 28
c. For Board of Directors meetings that are
June 4, 11, 18, 25 held outside of a predetermined schedule,
July 2, 9, 16, 23 summons must be made no later than 1 (one)
August 6, 13, 20, 27 day before the Board of Directors meeting is
held, or in a shorter time if it is urgent.
September 3, 10, 17, 24
d. The summons for the meeting must include
October 1, 15, 22, 29
the agenda (date, time, place, and topic) and
November 5, 12, 19, 26 attach meeting materials.
December 3, 10 e. The Board of Directors confirms attendance
to the Board of Directors Bureau.
4. Meeting Materials and Scheduling
The Board of Commissioners’ meeting schedule is a. Prior to the end of the financial year, the
subject to change at any time as needed. Board of Directors must schedule a meeting
of the Board of Directors, as well as a
The plan for the 2025 Board of Commissioners’ meeting of the Board of Commissioners with
meeting schedule has been published on the BCA the Board of Directors for the following year
website since December 2024 and can be accessed at and upload it on the BCA website.
https://www.bca.co.id/en/tentang-bca/tatakelola/ b. On a scheduled meeting, meeting materials
struktur-organisasi. are distributed to participants no later than
5 (five) working days before the meeting is
2. Meeting of the Board of Directors held (H-5).
c. In the event that a meeting is held outside
Legal Basis the schedule, the meeting materials shall be
BCA Board of Directors meetings are organized based submitted to the meeting participants no
on the following regulations: later than before the meeting is held.
a. OJK Regulations. 5. Meeting Resolutions and Quorum:
b. BCA's Articles of Association a. The meeting of the Board of Directors is
c. Board of Directors Charter. valid and has the authority to make binding
decisions if more than ²⁄₃ (two-third) of the
Meeting Policy total number of members of the Board of
The Board of Directors Meeting Policy in the Board Directors currently in the office are present
of Directors Charter and/or Articles of Association or represented at the meeting.
regulates, among other: b. Every strategic policy and decision must be
1. Meeting Mechanism made at a Board of Directors meeting with
Board of Directors meetings can be held in person due regard for supervision in accordance
or virtually via teleconference media, video with the Board of Commissioners’ duties and
conferences, or other forms of electronic media. responsibilities.
2. Meeting Frequency: c. Decisions-making at the Board of Directors
a. Board of Directors meetings must be held meeting must be made first through
periodically, at least once a month or 12 deliberation for consensus.
(twelve) times per year. d. Decisions are made based on the affirmative
b. Each member of the Board of Directors must votes of more than ½ (one-half) of the total
attend at least 75% (seventy-five percent) valid votes cast at the meeting in question if
of the meetings in 1 (one) year. the deliberations do not reach consensus.
350 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
e. The Board of Directors may also make valid 7. Minutes of Meeting:
decisions without summoning a meeting a. The results of the Board of Directors meeting
of the Board of Directors if all members of must be stated in the Minutes of Meeting,
the Board of Directors have been notified which are signed by all members of the
in writing, have given their approval to the Board of Directors present and submitted to
proposals submitted, and have signed the all members of the Board of Directors.
agreement. Decisions made in this manner b. Minutes of meetings of the Board of
have the same power as those made formally Directors must be properly documented
at a meeting of the Board of Directors. in accordance with the provisions of the
f. All decisions made at Board of Directors relevant regulations.
meetings are binding and the responsibility c. Dissenting opinions that occur at a Board
of all Board of Directors members. of Directors meeting must be included in
6. A member of the Board of Directors may only be writing in the Minutes of Meeting, including
represented by another member of the Board reasons for the dissent.
of Directors on the basis of a special power of
attorney made for the purpose of the meeting, Implementation
provided that it does not remove the right to vote Throughout 2024, the Board of Directors has
for: organized 47 (forty-seven) times meetings of the
a. Meeting attendance quorum; and Board of Directors, which were held in person and
b. The decision-making quorum is in via teleconference. BCA has complied with the OJK
accordance with the power given so their Regulation provision regarding the minimum frequency
voting rights are counted in the meeting of the holding of Board of Directors meetings.
quorum.
Frequency of Attendance, Schedule, and Agenda of Board of Directors Meetings
The Board of Directors meeting schedule for 2024 has been published on the BCA website and can be accessed at:
https://www.bca.co.id/en/tentang-bca/tata-kelola/struktur-organisasi.
The following is the schedule and agenda for the Board of Directors meetings organized in 2024:
No. Meeting Date & Agenda JS HL AH ST RS LS SL VL HB FC JK AW
1 January 9, 2024 √ √ √ √ √ √ √ √ √ Leave √ √
Economic Update
2 January 18, 2024 √ √ √ √ Official √ √ √ √ √ √ √
• Customer Engagement by Travel
Gallup
• Strengthening the Role
of Segment Managers
in Supporting CASA,
Transaction & Loan Targets
• 2024 Budget Update,
Realization of 2023 Board of
Directors’ KPI & Approval of
2024 Board of Directors’ KPI
3 January 25, 2024 √ √ √ √ √ √ √ √ √ √ √ √
Collective KPI Approval 2024
4 February 1, 2024 √ √ √ √ √ √ √ √ √ √ √ √
• Analyst Feedback FY 2023
• BCA Expoversary 2024
Progress Update
• Tabunganku Update and
Review of Savings Admin
Fees
• Summary and Follow
Up BOD Discussion on 4
January 2024
2024 Annual Report PT Bank Central Asia Tbk 351
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
No. Meeting Date & Agenda JS HL AH ST RS LS SL VL HB FC JK AW
5 February 13, 2024 √ √ √ √ √ √ √ √ √ √ √ √
• Affiliated Transactions
• ESG-GCG Updates FY 2023
• BCA Finance: how to
improve revenue &
managing opex
• Election Preparation on 14
February 2024
• Solitaire Chinese New Year
Update
6 February 15, 2024 √ √ √ √ √ √ √ √ √ √ √ √
• BCA Financial Performance
Update January 2024
• Sharing of BCA lottery
concept
7 February 22, 2024 √ √ √ √ Sick √ √ √ √ √ √ √
• Credit Scoring on BCA Leave
Credit Cards
• Discussion of 2024 Outlook
8 February 27, 2024 √ √ √ √ √ √ √ √ √ √ √ √
• Update Ekonomi
• BCA Life: how to improve
revenue & managing opex
9 March 19, 2024 √ √ √ √ √ √ √ √ √ √ √ √
• MyBCA Biz
• O1 Segment
• O2-O5 Segment Strategy
10 March 21, 2024 √ √ √ √ √ √ √ √ √ √ √ √
• BCA Financial Performance
Update February 2024
• Banking Sector Review FY
2023
• BCA Sharing Knowledge,
Public Lecture with BCA
Board of Directors
11 March 26, 2024 √ √ √ √ √ √ √ √ √ √ √ √
• Economic Update
• OJK Regulation No. 27/2024
• Presentation of APU PPT
Report Semester II/2023
12 March 28, 2024 √ √ √ √ √ √ √ √ √ √ √ Leave
• SMILE KP and Individual
CASA Strategy
• BCA Insurance: how
to improve revenue &
managing opex
• BCA Sharia: how to improve
revenue & managing opex
• End to End Acquiring
Merchant
13 April 4, 2024 √ Leave √ √ √ √ √ √ √ √ √ √
• BCA Sekuritas: how
to improve revenue &
managing opex BCA S
• Acquiring Business Strategy
(DST)
• Seragam BCA (CCR)
14 April 18, 2024 √ √ √ √ √ √ Leave √ √ √ √ √
• Economic Update - (REI)
• Update on SME KOM Credit
Program, NPL Debtors
(DBKM)
15 May 2, 2024 √ √ √ √ √ √ √ √ √ √ √ √
• Analyst Feedback 1Q 2024
• ESG-GCG Updates 1Q 2024
• Update Key Priorities 1Q24
352 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
No. Meeting Date & Agenda JS HL AH ST RS LS SL VL HB FC JK AW
16 May 16, 2024 Official √ Official √ √ √ √ Leave Leave √ √ √
BCA Financial Performance Travel Travel
Update April 2024
17 May 28, 2024 √ √ √ √ √ Official √ √ √ Official √ √
• Banking Sector Review Travel Travel
• O1 Customer
• Update Progress O2-O5
Segment Strategy
18 May 30, 2024 √ √ Official √ √ √ √ Official √ √ √ √
• Economic Update Travel Travel
• Use of Third Parties for
Whistleblowing System
Management
• SAPA Update
19 June 11, 2024 √ √ √ √ √ √ √ √ √ √ √ √
• BCA Financial Performance
Update May 2024
• BCA Merah Putih Festival
20 June 13, 2024 √ √ Leave √ √ √ √ √ √ √ √ √
• Review Digital Banking
• Mid Year Financial Forecast
21 June 27, 2024 Leave √ √ √ √ √ √ √ √ √ √ √
Economic Update
22 July 4, 2024 √ √ √ √ √ Training √ √ √ √ √ √
• Shariah Banking Review
• ATM and CRM
• SMILE KP
• Study on the possibility
of Shifting Secondary
Reserves Components (to
SRBI and SBN)
23 July 18, 2024 √ √ √ √ Sick √ √ √ √ √ √ √
• Online Gambling Leave
• Plan for 2024 Retirement
Gathering Event
24 July 23, 2024 √ √ √ √ Official √ √ √ √ √ √ √
• Economic Update Travel
• Insurance Telemarketing
Business (DMTM)
• Forecast 2024 Update
25 July 25, 2024 √ √ √ √ √ √ √ √ √ √ √ √
• Payroll
• Wealth Summit Update
2024
• IKF Preparation
26 August 1, 2024 √ Leave √ √ √ √ √ √ √ √ Official √
• Analyst Feedback 1H 2024 Travel
• Update Wealth Summit
27 August 8, 2024 √ Leave √ √ √ √ √ √ √ √ √ √
• Sharing DPBCA
• Kick Off Budget ESG
• GCG Updates 1H 2024
• GNI
28 August 15, 2024 √ Leave √ √ √ √ Official √ √ √ √ √
• Financial Performance Travel
Update July 2024
• Workgroup Plan Update
- Relationship Platform
Project (JARVIS) 2024
• Relationship Platform
Project (JARVIS) 2024
29 August 22, 2024 √ √ √ √ Official √ √ √ √ √ √ √
Changes in Attendance Travel
Quorum for Board of Directors
and Board of Commissioners
Meeting
2024 Annual Report PT Bank Central Asia Tbk 353
Page 356
Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
No. Meeting Date & Agenda JS HL AH ST RS LS SL VL HB FC JK AW
30 August 27, 2024 √ √ Official √ √ √ √ √ √ √ √ √
Review Banking Sector 1H Travel
2024
31 August 29, 2024 √ √ √ √ √ √ √ √ √ √ √ √
Economic Update
32 September 10, 2024 √ Official √ √ √ √ √ √ Official √ √ √
APU PPT Travel Travel
33 September 12, 2024 √ √ √ √ √ √ √ √ Official Leave √ √
• Credit Card Product Travel
Development Update
PSAK71
• BCA Financial Performance
Update August 2024
34 September 26, 2024 Official √ √ Leave √ √ √ Official √ √ √ √
Economic Update Travel Travel
35 October 8, 2024 √ √ Official Leave √ Leave √ √ √ √ √ √
BCA expo 2024 and BCA Travel
expoversary 2025
36 October 22, 2024 √ Official √ √ √ √ √ √ √ √ √ Official
Interim Dividend Travel Travel
37 October 24, 2024 √ Official √ √ √ √ √ √ √ √ √ √
First Draft Consolidated Travel
Outlook 2024 & 2025
38 October 25, 2024 √ √ √ √ √ √ √ √ √ √ √ √
Resolution Plan & Recovery
Plan
39 October 31, 2024 Official √ √ Official √ √ √ √ √ √ √ √
• Economic Update Travel Travel
• Analyst Feedback
40 November 5, 2024 √ √ √ √ Official √ √ √ √ √ √ √
BCA Digital and BCA Syariah Travel
Recovery Plan
41 November 7, 2024 √ √ √ √ √ √ √ √ √ √ √ √
• ESG Refreshment
• Retirement Credit
42 November 14, 2024 √ √ √ √ √ √ √ √ √ √ √ √
• 2025 Key Strategic
Priorities and RBB Approval
(2nd draft) + RAKB
• AGMS Update
43 November 19, 2024 √ √ √ √ √ √ √ √ √ √ √ √
BCA Financial Performance
Update in October 2024
44 November 26, 2024 √ √ √ √ √ √ √ √ √ √ √ √
Key Strategic Priorities
45 November 28, 2024 √ √ Official √ √ √ √ √ √ √ √ √
• BCA Wealth Summit 2024 Travel
Results Update
• Banking Sector Review
• Event Report MSMEs Fest
2024 and MSMEs Fest 2025
and Submission of RPIM
2025 Budget
46 December 12, 2024 √ √ √ Official Leave √ √ √ √ √ Official Official
• BCA Financial Performance Travel Travel Travel
Update November 2024
• Customer Profitability
47 December 19, 2024 √ √ √ √ √ √ Leave √ Leave √ √ √
Economic Update
Number of Meetings 47
Number of Attendance 43 40 41 43 40 44 44 44 43 44 45 44
Percentage of Attendance 91% 85% 87% 91% 85% 94% 94% 94% 91% 94% 96% 94%
354 PT Bank Central Asia Tbk 2024 Annual Report
Page 357
Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Board of Directors Meeting Schedule in 2025 2. Meeting Frequency:
BCA has scheduled the following Board of Directors The Board of Directors and the Board of
meeting in 2025 as follows Commissioner must hold regular joint meeting at
Month Date least once every 4 (four) months.
3. Meeting Summons:
January 2,9,14,16,23,28,30
a. For joint meetings that have been scheduled
February 6,11,13,20,25,27
or are based on the decisions of the previous
March 6,11,13,20,25,27 joint meeting, there is no need to summon a
April 3,8,10,17,22,24 meeting.
May 1,8,13,15,22,27, 29 b. For meetings that are held outside of a
predetermined schedule, summons must be
June 5,10,12,19,24,26
made no later than 1 (one) day before the joint
July 3,8,10,17,22,24, 31 meeting is held, or in a shorter time if it is urgent.
August 7,12,14,21,26,28 c. The summons for the meeting must include
September 4,9,11,18,23,25 the agenda/topic, date, time, mechanism,
place and attach meeting materials.
October 2,9,14,16,23,28, 30
d. The summons for the meetings must be made in
November 6,11,13,20,25,27
writing and delivered to the meeting participants
December 4,9,11,18,23,25 via registered mail, courier service, electronic
mail (e-mail), or other means deemed effective.
The Board of Directors meeting schedule may change 4. Meeting Materials and Scheduling
at any time as needed. a. Prior to the end of the financial year, the
Board of Commissioners and the Board of
The plan for the Board of Directors meeting schedule Directors must schedule a joint meeting for
for 2025 has been published on the BCA website since the following year.
December 2024 and can be accessed at: https:// b. At a scheduled meeting, meeting materials are
www.bca.co.id/en/tentang-bca/tatakelola/struktur- distributed to participants no later than 5 (five)
organisasi. working days before the meeting is held (H-5).
5. Meeting Resolutions and Quorum:
3. Joint Meeting of the Board of Commissioners a. The meeting is deemed valid and has the
and the Board of Directors authority to make binding decisions if more
than ½ (one-half) of the total number of
Legal Basis members of the Board of Commissioners
a. Article 31 paragraph 3 of OJK Regulation No. and members of the Board of Directors are
33/POJK.04/2014, concerning the Board of present or represented at the meeting.
Directors and Board of Commissioners of Issuers b. Decisions-making at the joint meeting must be
or Public Companies states that the Board of made first through deliberation for consensus.
Commissioners must hold regular meetings with c. Decisions are made based on the affirmative
the Board of Directors at least once every 4 (four) votes of more than ½ (one-half) of the total
months. valid votes cast at the meeting in question if
b. Article 16 paragraph 3 of OJK Regulation No.33/ the deliberations do not reach a consensus.
POJK.04/2014 concerning the Board of Directors d. All decisions made at joint meetings are
and Board of Commissioners of Issuers or Public binding.
Companies states that the Board of Directors 6. A member of the Board of Directors may only
must hold regular meetings of the Board of be represented by another member of the
Directors and the Board of Commissioners at Board of Directors and a member of the Board
least once every 4 (four) months. of Commissioners may only be represented by
another member of the Board of Commissioner on
Meeting Policy the basis of a special power of attorney made for
The Joint Meeting Policy is contained in the Board the purpose of the meeting.
of Directors Charter and the Board of Commissioner 7. Minutes of Meeting:
Charter as well as Articles of Association. The policy a. The results of the meeting must be stated in
regulates, among other: the Minutes of Meeting, which are signed by
1. Meeting Mechanism all members of the Board of Directors and
Joint meetings can be held in person or virtually members of the Board of Commissioners
via teleconference media, video conferences, or present and submitted to all members of the
other forms of electronic media. Board of Directors and members of the Board
of Commissioners.
2024 Annual Report PT Bank Central Asia Tbk 355
Page 358
Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
b. Dissenting opinions that occur at the meeting must be clearly stated in the Minutes of Meeting including
reasons for the dissent.
Implementation
Throughout 2024, the Board of Commissioners and the Board of Directors have organized 6 (six) joint meetings, which
were held in person and via teleconference.
BCA has complied with OJK regulations regarding the minimum frequency of joint meetings between the Board of
Commissioners and the Board of Directors.
Frequency of Attendance, Schedule, and Agenda of Joint Meetings of the Board of Commissioners and the Board of
Directors
The schedule for the joint meetings of the Board of Commissioners and the Board of Directors for 2024 has been
published on the BCA website and can be accessed at https://www.bca.co.id/en/tentang-bca/tata-kelola/struktur-
organisasi.
Schedule and Agenda for Joint Meetings of the Board of Commissioners and the Board of Directors organized in 2024:
BOARD OF DIRECTORS & BOARD OF COMMISSIONERS
No. Meeting Agenda
JS HL AH ST RS LS SL VL HB FC JK AW DE TK CH RP SS
1 January 11, 2024 √ √ √ √ √ √ √ √ √ Leave √ √ √ √ √ √ √
BCA Financial
Performance Update
December 2023
2 April 18, 2024 √ √ √ √ √ √ Leave √ √ √ √ √ √ √ √ √ √
BCA Financial
Performance Update Q1
2024
3 July 18, 2024 √ √ √ √ Sick √ √ √ √ √ √ √ √ √ √ √ √
BCA Financial Leave
Performance Update
Semester 1 2024
4 July 29, 2024 √ √ √ √ √ √ √ √ √ √ √ Sick √ √ √ √ √
Mid Year Strategy Leave
Review
5 October 21, 2024 √ √ √ √ √ Leave √ √ √ √ √ √ √ √ √ √ √
BCA Financial
Performance Update Q3
6 October 22, 2024 √ √ √ √ √ √ √ √ √ √ √ √ √ √ √ √ √
2025 Strategy and
Planning
Number of Meetings 6
Number of Attendance 6 6 6 6 5 5 5 6 6 5 6 5 6 6 6 6 6
Percentage of Attendance 100 100 100 100 83 83 83 100 100 83 100 83 100 100 100 100 100
(%)
Joint Meetings Schedule of the Board of The plan for the Board of Directors and the Board of
Commissioners and the Board of Directors in 2025 commissioners joint meeting schedule for 2025 has
BCA has scheduled the following joint meeting of the been published on the BCA website since December
Board of Commissioners and Board of Directors in 2025: 2024 and can be accessed at: https://www.bca.
Month Date co.id/en/tentangbca/tata-kelola/struktur-organisasi.
January 14
4. Attendance of the Board of Commissioners and
April 17
the Board of Directors at the GMS in 2024
July 10, 28, 29 The attendance level of the Board of Commissioners
October 9, 10, 13, 14 and the Board of Directors at the GMS in 2024 has
been disclosed in the General Meeting of Shareholders
The Board of Commissioners and the Board of Section on page 299-300 of this Annual Report.
Directors joint meeting schedule may change at any
time as needed.
356 PT Bank Central Asia Tbk 2024 Annual Report
Page 359
Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
AFFILIATED RELATIONSHIPS OF c. BCA’s controlling shareholder and/or ultimate
BOARD OF COMMISSIONERS, BOARD controlling shareholder.
OF DIRECTORS, AND CONTROLLING • Familial relationship, either horizontally or vertically,
SHAREHOLDERS until the second degree, with other BCA’s members of
the Board of Directors, the Board of Commissioners.
The definition of having affiliated relationships among
members of the Board of Directors, the Board of All members of the Board of Commissioners and the Board
Commissioners, and the Controlling Shareholders, either of Directors of BCA have no affiliated relationships, either
directly or indirectly are as follows: financial or familial relationships, with fellow members
• Financial relationship, in which the members of the of the Board of Commissioners, the Board of Directors,
Board of Directors and/or the Board of Commissioners and Controlling Shareholders and/or Ultimate Controlling
receive income, financial assistance, and loan from: Shareholders, except for Mr. Armand W. Hartono, who has
a. other BCA’s members of the Board of Directors an affiliated relationship (familial and financial relationships)
and/or the Board of Commissioners; with the Ultimate Controlling Shareholder, namely Mr.
b. company which its controlling shareholder is Robert Budi Hartono. The details of this disclosure are as
BCA’s member of the Board of Directors and/or follows:
the Board of Commissioners; and/or
1. Affiliated Relationships between Board of Commissioners Members and Other Board of Commissioners
Members, Board of Directors Members, and the Controlling Shareholders
Table of Affiliated Relationships of BCA’s Board of Commissioners Members
Familial Relationship with Financial Relationship with:
Ultimate Ultimate
Board of Board of Controlling Board of Board of Controlling
Name Position Controlling Controlling
Commissioner Director Shareholder Commissioner Director Shareholder
Shareholder Shareholder
Yes No Yes No Yes No Yes No Yes No Yes No Yes No Yes No
Ir. Djohan President - √ - √ - √ - √ - √ - √ - √ - √
Emir Commissioner
Setijoso
Tonny Commissioner - √ - √ - √ - √ - √ - √ - √ - √
Kusnadi
Cyrillus Independent - √ - √ - √ - √ - √ - √ - √ - √
Harinowo Commissioner
Raden Independent - √ - √ - √ - √ - √ - √ - √ - √
Pardede Commissioner
Sumantri Independent - √ - √ - √ - √ - √ - √ - √ - √
Slamet Commissioner
2024 Annual Report PT Bank Central Asia Tbk 357
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
2. Affiliated Relationships between Board of Directors Members and Other Board of Directors Members,
Board of Commissioners Members, and Controlling Shareholders
Table of Affiliated Relationships of BCA’s Board of Directors Members
Familial Relationship with Financial Relationship with:
Ultimate Ultimate
Board of Board of Controlling Board of Board of Controlling
Name Position Controlling Controlling
Commissioner Director Shareholder Commissioner Director Shareholder
Shareholder Shareholder
Yes No Yes No Yes No Yes No Yes No Yes No Yes No Yes No
Jahja President - √ - √ - √ - √ - √ - √ - √ - √
Setiaatmadja Director
Gregory Deputy - √ - √ - √ - √ - √ - √ - √ - √
Hendra President
Lembong Director
Armand Deputy - √ - √ - √ √ - √ - √ - √ √ -
Wahyudi President
Hartono Director
Tan Ho Hien/ Director - √ - √ - √ - √ - √ - √ - √ - √
Subur atau
Subur Tan
Rudy Susanto Director - √ - √ - √ - √ - √ - √ - √ - √
Lianawaty Director - √ - √ - √ - √ - √ - √ - √ - √
Suwono (concurrently
Director in
charge of
Compliance
function)
Santoso Director - √ - √ - √ - √ - √ - √ - √ - √
Vera Eve Lim Director - √ - √ - √ - √ - √ - √ - √ - √
Haryanto T. Director - √ - √ - √ - √ - √ - √ - √ - √
Budiman
Frengky Director - √ - √ - √ - √ - √ - √ - √ - √
Chandra
Kusuma
John Kosasih Director - √ - √ - √ - √ - √ - √ - √ - √
Antonius Director - √ - √ - √ - √ - √ - √ - √ - √
Widodo
Mulyono
Complete information regarding the affiliated relationships of the Board of Directors and the Board of Commissioners
can be found on the Company Profile pages 62-78 of this 2024 Annual Report.
358 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
DIVERSITY IN THE COMPOSITION BCA does not limit the opportunities for women
OF MEMBERS OF THE BOARD OF and men who meet the qualifications to become
COMMISSIONERS AND THE BOARD OF members of the Board of Commissioners or the Board
DIRECTORS of Directors. During the nomination process, the
RNC takes into consideration, among other things,
BCA has diversity policy regarding the composition of the the qualifications of candidates for members of the
Board of Commissioners and Board of Directors that meets Board of Commissioners and members of the Board
the provisions of OJK’s Principles and Recommendations, of Directors, pays attention to external and internal
as regulated by OJK Circular Letter No. 32/SEOJK.04/2015 conditions in accordance with BCA’s strategic
concerning Corporate Governance Guidelines for Public directions, and communicates with the controlling
Companies. shareholders (if the proposal is not from the controlling
shareholders).
1. Diversity Policy
The policy on diversity in the composition of the The policy on diversity in the composition of the Board
Board of Commissioners and the Board of Directors of Commissioners and the Board of Directors, as set
is set out in the Board of Commissioners Charter, as forth in the Charter of the Board of Commissioners
well as the Board of Directors Charter. This policy and the Charter of the Board of Directors, is available
governs the diversity of the members of the Board on the BCA website (https://www.bca.co.id/en/
of Commissioners and the Board of Directors with tentang-bca/tata-kelola/struktur-organisasi).
regards to their education (field of study), work
experience, age, expertise, and independence
without discriminating their gender, ethnicity, religion,
or race. The considerations of diversities will have an
impact on the accuracy of the nomination process
and the appointment of individual members of the
Board of Commissioners and members of the Board of
Directors, as well as the composition of the Board of
Commissioners and Directors collegially.
2. Diversity in the Composition of the Members of the Board of Commissioners
The following table illustrates the diversity of the members of the Board of Commissioners in 2024
Diversity
No. Realization in BCA
Aspects
1. Expertise Members of the Board of Commissioners have a well diverse expertise in the areas of audit,
banking & financial strategy, banking supervision, banking operation & services, banking & finance,
branch banking management, capital market, corporate banking, corporate planning, economic
development planning, finance, internal audit, individual banking, it, monetary economy, macro &
international economy, and risk management.
2. Education Members of the Board of Commissioners have a well diverse educational background ranging from
bachelor, master, to doctoral in the fields of accounting, engineering, finance, and economics.
3. Work Members of the Board of Commissioners have a well diverse work experiences, including
Experience professionals in banking and national/multinational financial institutions, consultants, lecturers and
government officials.
4. Age Members of the Board of Commissioners have diverse ages ranging from 64 years to 83 years.
5. Gender The current members of BCA’s Board of Commissioners are all male.
6. Independence • The Board of Commissioners’ members are all independent from BCA’s controlling
shareholders.
• The majority of the Board of Commissioners members (more than 60% (sixty percent)) is
Independent Commissioners. BCA has three (three) Independent Commissioners among its five
(five) members on the Board of Commissioners.
Detailed information about individual data related to the diversity of the Board of Commissioners can be found in the
Company Profile section on pages 74-78 of this 2024 Annual Report.
2024 Annual Report PT Bank Central Asia Tbk 359
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
3. Diversity in the Composition of the Members of the Board of Directors
The following table illustrates the diversity of the members of the Board of Directors in 2024
Diversity
No. Realization in BCA
Aspects
1. Expertise Members of the Board of Directors have a well diverse expertise ranging from accounting &
financial management, banking strategy, branch banking management, banking operation &
service excellence, banking compliance, branch banking management, business partnership,
capital market, change management, corporate banking business, commercial & SME banking,
consumer banking, corporate lending business, corporate banking operation & services,
corporate culture, consumer card issuance & acquisition, corporate strategy, compliance,
digital banking, employee training & development, ESG, general insurance, human capital
management, international banking business, information technology & digital transformation,
information technology & digital innovation, information system & technology, legal & litigation,
lending business, life insurance, loan restructuring, marketing strategy, merger & acquisition,
micro lending, network distribution & delivery channel management, procurement & property
management, retail payment settlement, risk management, sharia/islamic banking strategy,
strategic planning & transformation, syndication loan, transaction banking, transaction banking
business development treasury, wealth management, wholesale banking.
2. Education Members of the Board of Directors have a well diverse educational background ranging from
undergraduate, masters, to doctoral degrees in economics, accounting, information technology,
law, engineering, and business.
3. Work Members of the Board of Directors have a well diverse work experience, including professionals
Experience in banking and national/multinational financial institutions, consultants, lecturers, and accounting
firms.
4. Age Members of the Board of Directors have diverse ages ranging from 49 years to 69 years.
5. Gender There are 2 (two) female members of the Board of Directors out of the 12 (twelve) members.
6. Independence • The President Director is an independent party to BCA’s controlling shareholder.
• Except for Mr. Armand W. Hartono, all of the Board of Directors are independent from BCA’s
controlling shareholders
Detailed information regarding the diversity of each member of the Board of Directors can be found in the Company
Profile section on pages 62-73 of this 2024 Annual Report.
360 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
PERFORMANCE ASSESSMENT OF THE c. Criteria or Benchmark
BOARD OF COMMISSIONERS AND THE The criteria used to assess the Board of
BOARD OF DIRECTORS Commissioners individually and collegially
include:
BCA has a performance assessment policy for the Board 1) Supervision and providing advice to the
of Commissioners and the Board of Directors, which has Board of Directors on:
been prepared based on applicable laws and regulations a. BCA’s key strategy and plan;
in accordance with the provisions of OJK Regulation b. Integrity of BCA’s financial statement;
No. 45/POJK.03/2015 concerning the Implementation c. Internal control system and risk
of Governance in the Provision of Remuneration for management; and
Commercial Banks and OJK Circular Letter No. 40/ d. Good Corporate Governance.
SEOJK.03/2016 concerning the Implementation of 2) Providing approval for Board of Directors
Governance in the Provision of Remuneration for decisions in accordance with the BCA’s
Commercial Banks, OJK Regulation No. 21/POJK.04/2015 Articles of Association or applicable
concerning the Implementation of Corporate Governance laws and regulations. The Board of
Guidelines for Public Company and OJK Circular Letter Commissioners’ work can be seen in the
No. 32/SEOJK.04/2015 concerning Guidelines for Public Board of Commissioners’ Supervisory report
Company Governance. on pages 36-42, which includes the Board
of Commissioners’ oversight and advisory
BCA evaluates the Board of Commissioners and the Board functions to the Board of Directors, strategy
of Directors annually in the form of: evaluation, governance implementation, as
• Collegial assessment of the performance of the Board well as internal control and risk management.
of Commissioners and Board of Directors;
• Assessment of individual performance of each d. Parties who Perform the Assessment and Evaluation
member of the Board of Commissioners and members The following assessment mechanisms for the Board
of the Board of Directors; and of Commissioners by using collegial and individual
• Performance assessment of the President Director. performance:
• Collegial performance assessment of members
1. Implementation Procedures and Criteria for of the Board of Commissioners.
Assessing the Performance of the Board of The Board of Commissioners performs a collegial
Commissioners self-assessment, which is then evaluated at the
The performance assessment procedure of the Board Board of Commissioners’ meeting based on the
of Commissioners of BCA includes the following: Remuneration and Nomination Committee’s
a. Assessment Method and Instrument recommendation (RNC).
Assessment is carried out through the self- • Individual performance assessment of members
assessment method and is performed by of the Board of Commissioners.
members of the Board of Commissioners by using Each member of the Board of Commissioners
the Self-Assessment Form. performs a self-assessment, which is then
evaluated at the Board of Commissioners’
b. Frequency Meeting based on the RNC.
The Board of Commissioners is obliged to perform
self-assessments collegially and individually at
least once per year.
e. Assessment Process Flow
The collegial and individual self-
assessment results of the Board Evaluation Results of:
President Commissioner and - Collegial Performance
of Commissioners are evaluated
each member of the Board of Assessment
by the Board of Commissioners
Commissioners fill out the self- - Individual Performance
through meetings based on
assessment form Assessment
the recommendations of the
RNC
f. 2024 Assessment Results
In 2024, the result of the Board of Commissioners' performance assessment was that their duties and
functions have been carried out with the predicate of “Very Good” in ensuring that bank performance met the
expectations of shareholders and all stakeholders. The following is a detailed description of the results of the
2024 Annual Report PT Bank Central Asia Tbk 361
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Board of Commissioners’ collegial and individual target setting process involving the Board
performance assessments: of Directors, heads of business units and the
• The results of the collegial performance Board of Commissioners. During this process,
assessment of the Board of Commissioners BCA examines and studies various external
is “Very Good” and the average performance factors that affect BCA's performance, such as
assessment result for individual members of banking industry trends, emerging threats and
the Board of Commissioners is “Very Good”. opportunities, changes in customer behavior,
changes in regulations, process efficiency,
2. Performance Assessment Procedure of the and adequacy of human resource needs. The
Board of Directors results of the study will determine key strategic
The performance assessment implementation objectives such as digital initiatives, technology
procedure for the Board of Directors at BCA includes: and cybersecurity development, process
a. Assessment Method and Instrument improvement, compliance with regulatory
Assessment is carried out through self- changes, good corporate governance oversight,
assessment method that is performed by ESG implementation, and prudent business
members of the Board of Directors by using the expansion, as well as other strategic targets.
Self-Assessment Form.
Subsequently, these strategic targets are
b. Frequency translated into Key Performance Indicators (KPI)
The Board of Directors is obliged to perform in accordance with each member of the Board
collegial and individual self-assessment at least of Directors’ duties and responsibilities, with due
once a year. regard to collegial and individual responsibilities,
both financially and non-financially. These
c. Criteria or Benchmark established KPI are then mutually agreed upon by
The criteria used to assess the Board of Directors the Board of Directors.
individually and collegially refer to the Bank’s
business plan, which has been approved by d. Parties Who Perform the Assessment
the Board of Commissioners. The performance Assessment for the Board of Directors’ collegial
indicators for each member of the Board of and individual performance is carried out through
Directors are determined using the Balanced the following mechanisms:
Scorecard approach, which consists of 4 (four) • Collegial performance assessment of
perspectives: members of the Board of Directors.
• financial; The Board of Directors performs a collegial
• customer; self-assessment, which is then evaluated at
• internal business processes; and a Board of Commissioners’ meeting based
• learning and development. on the RNC.
• Individual performance assessment of
The Balanced Scorecard is derived from the members of the Board of Directors. Each
Bank's Business Plan (RBB), which is the result member of the Board of Directors performs
of an annual review and business strategy and a self-assessment, which is then evaluated
at a Board of Commissioners’ meeting based
on the RNC.
e. Assessment Process Flow
The Board of Evaluation
The results Commissioners Results of:
Each member Discussion of of the self- discusses the results
• Collegial
of the Board each Director's assessment will of the Director's
Performance
of Directors fill evaluation, led be submitted assessment, taking
into account the
Assessment
out the self- by the President to the RNC for
results of the • Individual
assessment form Director evaluation and
evaluation and Performance
validation
validation by the RNC Assessment
f. Board of Directors Assessment Components
To support the Board of Directors' individual Self-Assessment, the Company has prepared performance
assessment components according to the duties and responsibilities of each Director, which includes the financial,
customer, internal business process, and learning and development components. The performance assessment
components referred to are as follows:
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Internal Business Learning and
Financial Customer
Process Growth
BOD Collective 40% 20% 25% 15%
President Director
Jahja Setiaatmadja 40% 20% 25% 15%
Deputy President Directors
Gregory Hendra Lembong 40% 20% 25% 15%
Armand W. Hartono 40% 20% 25% 15%
Business Directors
Santoso 40% 20% 25% 15%
Rudy Susanto 40% 20% 25% 15%
John Kosasih 40% 20% 25% 15%
Haryanto T. Budiman 40% 20% 25% 15%
Non-Business Directors
Vera Eve Lim 40%*) 20% 25% 15%
Frengky Chandra Kusuma 40% *)
20% 25% 15%
Subur Tan 30% 20% 35% 15%
Antonius Widodo 30% 20% 35% 15%
Lianawaty Suwono 30% 20% 35% 15%
Note:
*) The financial weight of 40% (the same as Business Directors) is due to Mrs. Vera Eve Lim being accountable for coordinating the financial target
achievement, and Mr. Frengky Chandra Kusuma being accountable for coordinating achievement of BCA regional and branch targets (financial and non-
financial).
g. 2024 Assessment Results b. Frequency
In 2024, the result of the Board of Directors' The President Director is obliged to perform self-
performance assessment showed that their assessment at least once a year.
duties and functions have been carried out
with the predicate “Very Good” in ensuring that c. Criteria or Benchmark
bank performance meets the expectations of The criteria or benchmark used to assess the
shareholders and all stakeholders. The following is President Director individually refer to the Bank’s
a detailed description of the results of the Board Business Plan which has been approved by the
of Directors’ collegial and individual performance Board of Commissioners. BCA has prepared
assessments: assessment components based on the President
• The results of the collegial performance Director’s duties and responsibilities, which
assessment of the Board of Directors is include financial, customer, business process,
“Very Good” and the average performance learning, and development components.
assessment result for individual members of
the Board of Directors is “Very Good” d. Parties Who Perform the Assessment
The President Director performs a self-
3. Implementation Procedures and Criteria for assessment, which is then evaluated at a Board of
President Director Performance Assessment Commissioners’ meeting based on the RNC.
The performance assessment procedure of the
President Director of BCA includes the following:
a. Assessment Method
Assessment is carried out through self-
assessment method by using the Self-
Assessment Form.
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
e. Assessment Process Flow
The Board of
Commissioners
The results of the
discusses the results Evaluation Results of:
President Director self-assessment will
of the Director's President Director
fills out the self- be submitted to the
assessment, taking Performance
assessment form RNC for evaluation and
into account the results Assessment
validation
of the evaluation and
validation by the RNC
f. President Director Assessment Components
To support the President Director's individual Self-Assessment, the Company has prepared assessment
components in accordance with the duties and responsibilities of the President Director, which includes financial,
customer, internal business process, and learning and development components.
Internal Business Learning and
Financial Customer
Process Growth
President Director
Jahja Setiaatmadja 40% 20% 25% 15%
g. 2024 Assessment Results
In 2024, the President Director was assessed to have carried out his duties and functions with the predicate “Very
Good”, in ensuring the Bank's performance meets the expectations of shareholders and all stakeholders.
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REMUNERATION POLICY BCA employs the services of an external consultant, Willis
Towers Watson, to benchmark employee remuneration
BCA has a remuneration policy that is consistently to the industry. The external consultant is responsible for
implemented for all levels of the organization, including identifying gap analysis of predetermined remuneration
members of the Board of Commissioners and members provisions, and conducting a salary survey to be used as
of the Board of Directors as well as all employees, which a basis/benchmark in developing BCA’s remuneration
has been adjusted with BCA's capabilities and carried out policies.
carefully in order to accommodate developments in the
quality of BCA's employees and management. Review of the Remuneration Policy
BCA regularly reviews the remuneration policy and
Background and Objective adjusts it to comply with regulations and best practices.
BCA's remuneration policy has been formulated with Improvements based on the results of the remuneration
reference to OJK Regulation No. 45/POJK.03/2015 policy review for the Board of Commissioners and Board
concerning the Implementation of Governance in of Directors have been carried out with the issuance of
Providing Remuneration for Commercial Banks and OJK the Board of Commissioner Decree No.116/SK/KOM/2023
Circular Letter No. 40/SEOJK.03/2016 concerning the dated July 6, 2023 concerning Remuneration Policy for
Implementation of Governance in Providing Remuneration Board of Directors and Board of Commissioners.
for Commercial Banks. BCA established its remuneration
policy with the aim of enhancing the quality of BCA's Independence of Remuneration Policy
people, with due consideration of the resilience and Implementation
continuity of BCA's business. BCA ensures that implementation of remuneration for
all employees, including units that perform control/
The permanent remuneration policy at a minimum considers supervision functions in other units (such as the Internal
the BCA’s business scale, business complexity, peer group, Audit Division), are carried out independently. Approval
inflation rate, financial condition and capabilities, and of the determination of business targets for all employees
does not conflict with laws and regulations. The provision must be approved by their direct superior and the
of variable remuneration also takes into consideration superior of that immediate superior. The independence
risk factors in BCA's business activities, namely credit of units which carry out control functions is achieved by
risk, market risk, liquidity risk, operational risk, legal risk, separating the control unit in the organizational structure,
reputation risk, strategic risk, compliance risk, intragroup and by ensuring that the evaluation of the control unit’s
risk, and insurance risk. performance is not related to the achievement of business/
performance targets of the work unit it supervises.
Remuneration Committee
The BCA Board of Commissioners has established a Parties who Become Material Risk Takers (MRT)
Remuneration and Nomination Committee (RNC), one of Parties who become MRT must meet the following criteria,
whose functions is to assist the Board of Commissioners at a minimum:
in developing policy and implementing remuneration for a. Board of Directors members and/or other employees
BCA's Board of Commissioners and Board of Directors who, due to their duties and responsibilities, make
members. decisions that have a significant impact on BCA’s risk
profile; or
The composition, membership structure, duties and b. Board of Directors members, Board of Commissioners
responsibilities, implementation of meetings, and members, and/or employees who receive a large
remuneration paid to members of the RNC in full are amount of variable remuneration.
presented on page 384-388 of the Remuneration and
Nomination Committee section of this Annual Report. Based on these criteria, the parties appointed by BCA
to serve as MRT are all members of BCA’s Board of
Scope of the Remuneration Policy and its Commissioners and Board of Directors, totaling 17
Implementation (seventeen) individuals as of December 31, 2024.
BCA’s remuneration policy includes remuneration
arrangements for members of the Board of Commissioners
and members of the Board of Directors, and applies to
employees in both business and operational units. The
remuneration policy includes:
a. Fixed remuneration
b. Variable remuneration.
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Determination of Remuneration Associated with Risk and Performance
Remuneration associated with risk
Main Risks of Remuneration Implementation The Impact of Main Risks on
In determining the remuneration scheme, particularly the Variable Remuneration, Remuneration
BCA considers the main risks, namely credit risk and operational risk. Credit risk The determination of the main risk types
and operational risk have become BCA’s main risks in 2023 and the years before. will influence the determination of Key
This is due to the fact that credit risk and operational risk are inherent in the types Performance Indicators (KPI) and the
of transactions and business that have a high-risk impact on BCA’s operations and provision of Variable Remuneration.
generate significant revenue for BCA.
Remuneration associated with performance appraisal
Performance Appraisal Indicators in Determining the Remuneration of Members of The Impact of BCA Performance,
the Board of Directors Work Unit Performance, and Individual
The following are the indicators used to determine remuneration for Performance on Remuneration
members of the Board of Directors: To determine remuneration amounts,
• Work performance of each individual member of the Board of Directors; particularly variable components and
• BCA’s financial performance and fulfillment of reserves as referred to in Law No. individual performance, a yearly review
40 of 2007 concerning Limited Liability Company; is held. Individual performance appraisal
• Industry benchmarks; results serve as the foundation for
• Consideration of BCA’s long-term goals and strategies; company appreciation in the form of
• Risks that may arise in the future, causing losses for BCA. bonuses, promotions, rank reviews, and
wage/salary increases.
Performance Appraisal Indicators in Determining Remuneration of Members of the
Board of Commissioners
The following are the indicators used to determine remuneration for Performance measurement is based
members of the Board of Commissioners: on the targets that are agreed upon
• Supervising and advising the Board of Directors on: at the beginning of the year. Bonuses
- BCA’s key strategies and plans. are awarded based on individual
- The integrity of BCA’s financial statements. performance appraisals, as specified
- Internal control and risk management system. in Decision Letters and Circular
- Good corporate governance. Letters. To quantitatively assess the
• Providing approval for the Board of Directors’ decisions in accordance with the achievement of business/work goals,
laws and regulations/BCA’s Articles of Association. BCA uses assessment guidelines such as
exceeding the target (> 110%), achieving
Performance Appraisal Indicators in Determining Employee Remuneration the target (100-110%), or achieving some
BCA’s performance appraisal system is carried out objectively and is oriented of the target (80-99%).
towards employee development:
1. Performance appraisals focus on employees’ work performance and
demonstration of the company’s core values in employees, where:
• Employee achievement is the result of the work and achievement of
employees against employment goals/targets.
• Demonstration of Core Values is a demonstration of the behavior shown by
employees in carrying out their duties and responsibilities, which reflects the
main values of the company.
2. The performance appraisal results, combined with the employee competency
assessment, serve as a reference for determining the direction of employee
development.
Remuneration Adjustments are Related to Risk and Performance
1. Deferred Variable Remuneration
For Material Risk Takers (MRT), in this case the entire Board of Directors and Board of Commissioners, a certain percentage
of Variable Remuneration must be deferred as applied by BCA.
2. Deferred Payment (Malus) or Withdrawal (Clawback)
Under certain conditions, bonuses (tantiem) that have been paid to MRT in cash or shares can be withdrawn.
3. Deferral Period
The deferral period is 3 (three) years from the first time that variable remuneration is paid out. The deferral period is the same
for all MRT.
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1. Procedures for Determining Remuneration for the Board of Commissioners and the Board of Directors
Remuneration for the Board of Commissioners and the Board of Directors of BCA is determined based on the
procedures, structure, and indicators outlined in the Articles of Association of BCA and the Board of Commissioners'
Decree No.116/SK/KOM/2023 dated July 6, 2023, concerning the Remuneration Policy for the Board of Directors and
the Board of Commissioners, in accordance with the following provisions:
a. OJK Regulation concerning the Implementation of Good Corporate Governance for Commercial Banks.
b. OJK Regulation No. 45/POJK.03/2015 concerning the Implementation of Governance in the provision of
Remuneration for Commercial Banks.
c. OJK Circular Letter No. 40/SEOJK.03/2016 concerning the Implementation of Governance in the Provision of
Remuneration for Commercial Banks.
A. Procedure for Proposal and Determination of Remuneration
RNC informed the
Board of Commissioner
Determination of
concerning the The Board of
The GMS determines remuneration for
evaluation results and Commissioners
the remuneration for members of the Board
recommendation proposes the
members of the Board of Commissioners and
on the remuneration determination of
of Commissioners and Board of Directors in
for the Board of remuneration to the
the Board of Directors accordance with the
Commissioners and the GMS
resolutions of the GMS
Board of Directors to be
submitted to the GMS.
In accordance with BCA's AGMS dated March 14, 2024, has been granted the power and authority to:
a. The Board of Commissioners to determine the amount of salary and other benefits for members of the Board
of Directors, considering the recommendations of the Remuneration and Nomination Committee (RNC);
b. BCA’s majority shareholders to determine the amount of salary and other benefits payable to members of the
Board of Commissioners;
c. BCA’s majority shareholders to determine the distribution of tantiem to members of the BCA’s Board of
Commissioners and Board of Directors.
B. Board of Commissioners Remuneration Structure
Details of the remuneration package and facilities received by the Board of Commissioners covering the
remuneration structure and details of nominal amounts over the last 2 (two) years are shown in the table below:
Total Received in 1 (one) year
Type of Remuneration and Facilities 2024 2023
People In million Rp People In million Rp
Salary, bonuses, regular allowances, tantiem and 5 217,129 5 173,842
other facilities in non-natura form
Other facilities in form of natura (housing, health insurance, etc.) which:
1. Entitled - - - -
2. Not Entitled - - - -
Total 5 217,129 5 173,842
Details of the remuneration packages are grouped according to the level of income received by members of the
Board of Commissioners over the last 2 (two) years, as shown in the table below:
Total Remuneration per Person in Total Received in 1 (one) year
1 (one) Year *) 2024 2023
Above Rp2 billion 5 5
Above Rp1 billion up to Rp2 billion - -
Above Rp500 million up to Rp1 billion - -
Below Rp500 million - -
Note:
*) Received in cash
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C. Board of Directors Remuneration Structure
Details of the remuneration package and facilities received by the Board of Directors, including the remuneration
structure and details of nominal amounts over the last 2 (two) years, are shown in the table below:
Total Received in 1 (one) year
Type of Remuneration and Facilities 2024 2023
People In million Rp People In million Rp
Salary, bonuses, regular allowances, tantiem and 12 836,970 12 686,380
other facilities in non-natura form
Other facilities in form of natura (housing, health insurance, etc.) which:
1. Entitled - - - -
2. Not Entitled - - - -
Total 12 836,970 12 686,380
Details of the remuneration packages are grouped according the level of income received by the Board of
Directors over the last 2 (two) years, as shown in the table below:
Total Remuneration per Person in Total Received in 1 (one) year
1 (one) Year *) 2024 2023
Above Rp2 billion 12 12
Above Rp1 billion up to Rp2 billion - -
Above Rp500 million up to Rp1 billion - -
Below Rp500 million - -
Note:
*) Received in cash
2. Variable Remuneration for the Board of • Increasing the productivity of employees;
Commissioners, the Board of Directors, and • Creating harmony among employees,
Employees management, and shareholders to improve
Variable Remuneration consists of cash and shares. company performance.
Shares are given in the form of extra bonuses that are
intended for the purchase of PT Bank Central Asia Tbk The provision of variable remuneration, namely budget
(BBCA) shares. The extra bonuses used to purchase bonuses (cash and shares), is differentiated based on
BBCA shares are then locked up for 3 (three) years position:
after the bonuses are distributed. 1. Board of Commissioners and Board of Directors;
2. Echelon S1-S3 employees (including EVP);
The purposes of giving the extra bonus for the 3. Echelon S4-S8 employees.
purchase of BBCA shares are:
• As a reward for employee contributions during The underlying considerations that underlie the
the performance year; variation in remuneration are differences in the
• Fostering a sense of belonging among employees, responsibilities and risks of different positions in
which is expected to positively impact employee achieving company performance.
engagement with the company;
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Number of Board of Commissioners, Board of Directors and Employees Who Receive Variable Remuneration
The number of Board of Directors, Board of Commissioners, and employees who received Variable Remuneration for
the last 2 (two) years and the total nominal amount are as follows:
Total Variable Remuneration in 1 (one) Year
Year Board of Commissioners Board of Directors Employees***)
People In million (Rp) People In million (Rp) People In million (Rp)
2023 5*) 145,000 12*) 620,000 22,878 3,059,470
2022 5 **)
122,000 12 **)
519,000 22,456 2,883,134
Note:
*) Based on the number of active Board members as of December 31, 2023 who are entitled to receive variable remuneration in 2023, payable in 2024.
**) Based on the number of active Board members as of December 31, 2022 who are entitled to receive variable remuneration in 2022, payable in 2023.
***) For permanent and contract employees
Shares Options received by the Board of Directors, Board of Commissioners, and Executive Officers
No share options were received by the Board of Directors, Board of Commissioners and Executive Officers in 2024.
Unconditionally Guaranteed Variable Remuneration for the Board of Commissioners, Board of Directors, and/or
Employee Candidates
During the first 1 (one) year of employment, BCA does not guarantee unconditional Variable Remuneration to the Board
of Directors, the Board of Commissioners, and/or employees candidates.
Deferred Variable Remuneration for MRT (for all members of the Board of Commissioners and Board of Directors)
Total deferred Variable Remuneration amounted to Rp130,050,000,000.00 (one hundred thirty billion fifty million
rupiah), comprising cash and/or shares or share-based instruments issued by BCA, which was paid out in 2024 with the
following details:
1. In cash : Rp69,090,000,000.00 (sixty nine billion ninety million rupiah)
2. In the form of shares : Rp60,960,000,000.00 (sixty billion nine hundred sixty million rupiah)
3. Application of Remuneration for MRT at BCA (for all members of the Board of Commissioners and Board
of Directors)
Total Remuneration in 1 (one) Year
Details of the amount of remuneration in 1 (one) year include the following:
1. Fixed and variable remuneration;
2. Deferred and non-deferred remuneration; and
3. Remuneration in the form cash and/or shares or share-based instruments issued by BCA.
As described in the table below:
Expressed in millions of rupiah
A. Fixed Remuneration 2024 2023
1. Cash 289,099 219,221
2. Shares/share-based instruments issued by BCA - -
Expressed in millions of rupiah
2024 2023
B. Variable Remuneration
Non-Deferred Deferred Non-Deferred Deferred
1. Cash 634,950 69,090 532,030 57,920
2. Shares/share-based instruments issued by - 60,960 - 51,050
BCA *)
Note:
*) Shares are locked up for 3 years
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Quantitative Information
Quantitative information is the total remaining deferred remuneration including those exposed to implicit as well as
explicit adjustments, the total remuneration deduction caused by explicit adjustments during the reporting period,
and the total remuneration deduction due to implicit adjustments during the reporting period, is as follows:
2024 2023
Total Deductions During Total Deductions During
Total Variable the Reporting Period the Reporting Period
Remuneration Remaining Due to Due to Remaining Due to Due to
Deferred Explicit Implicit Total Deferred Explicit Implicit Total
Adjustment Adjustment (A)+(B) Adjustment Adjustment (A)+(B)
(A) (B) (A) (B)
1. Cash (in million 69,090 - - - 57,920 - - -
Rupiah)
2 Shares/share- 3,955,800 - - - 3,927,212 - - -
based instrument shares shares
issued by BCA
(in shares and
million Rupiah
nominal, based
on conversion of
these shares)
4. Data on Salary and Severance Paid Ratio
Ratio of Highest and Lowest Salary, which includes:
Salary Ratio 2024 2023
The ratio of the highest to lowest Employee salary 24.54 26.89
The ratio of the Board of Directors’ highest and lowest salary 2.70 2.85
The ratio of the Board of Commissioners’ highest and lowest salary 1.52 1.52
The ratio of the Board of Directors’ highest salary and the employees’ highest 9.51 8.63
salary
The ratio of the annual compensation of the President Director and the median/ 118.70 115.88
mean of the annual compensation of all employees (except the President
Director)
Number of Employees Affected by Termination of Employment and Total Nominal of Severance Paid
The number of employees affected by termination of employment (due to reaching retirement age, applying for early
retirement, or at their own request) and the total of severance paid, is as shown in the table below:
Number of Employees
Total of Severance Nominal paid per Person in 1 (one) year
2024 2023
Above Rp1 billion 398 324
Above Rp500 million up to Rp1 billion 483 472
Below Rp500 million 382 520
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
BOARD OF COMMISSIONERS 2. Audit Committee Charter
COMMITTEES Audit Committee has work guidelines stipulated
in the Audit Committee Charter and the BCA Audit
I. AUDIT COMMITTEE Committee Code of Ethics, which have been
Audit Committee is formed by and is responsible ratified based on the Board of Commissioners’
to the Board of Commissioners to assist the Board Decree No. 168/SK/KOM/2024 dated October 16,
of Commissioners in supporting the effectiveness 2024 concerning the Audit Committee Charter of
of the oversight duties and functions on matters PT Bank Central Asia Tbk.
related to quality of financial information, internal
control systems, performance of internal and external The scopes governed in the Audit Committee
audit functions, implementation of governance and Charter are as follows:
compliance with applicable laws and regulations. • Duties and responsibilities;
• Authority;
1. Legal Basis • Committee membership structure;
The legal basis for the establishment of Audit • Membership requirements;
Committee refers to: • Term of office;
• OJK Regulation No. 55/POJK.04/2015 • Work mechanism;
concerning the Establishment and Guidelines for • Work hours;
Work Implementation of Audit Committee. • Committee Meetings;
• OJK Regulation No. 17 of 2023 concerning the • Reporting;
Implementation of Governance for Commercial • Handling complaint/report regarding
Banks. alleged violation of financial statement;
• OJK Regulation No. 1/POJK.03/2019 concerning • Code of Ethics;
Application of Internal Audit Function in • Competence.
Commercial Banks.
• OJK Circular Letter No. 13/SEOJK.03/2017 The Audit Committee Charter and Audit
concerning Implementation of Governance for Committee’s Code of Conduct have been
Commercial Banks. uploaded on the BCA website in the Good
• OJK Circular Letter No. 18/SEOJK.03/2023 Corporate Governance section. (https://www.
concerning Procedures for the Use of Public bca.co.id/en/tentang-bca/tata-kelola/Struktur-
Accountant Services and Public Accounting Firms Organisasi).
in Financial Services Activities.
• BCA’s Articles of Association. 3. Structure and Membership of Audit Committee
• Board of Commissioners’ Decree No. 168/SK/ The composition of the BCA Audit Committee
KOM/2024 dated October 16, 2024 concerning membership complies with the applicable OJK
the Audit Committee Charter of PT Bank Central Regulation provisions and the Audit Committee
Asia Tbk. Charter. Throughout 2024, there were no changes
• Board of Directors’ Decree No. 073/SK/DIR/2021 to the members of the BCA Audit Committee.
dated April 22, 2021 concerning the Appointment The BCA Audit Committee had 3 (three) members
of Chairman and Members of the Audit who had been appointed based on the Board
Committee. of Directors’ Decree No. 073/SK/DIR/2021
dated April 22, 2021, and Minutes of Board of
Commissioners Meeting No. 20/RR/KOM/2021
dated April 22, 2021.
Composition of Audit Committee Members as of December 31, 2024
Term of Office based
Name Position in the Committee Position at BCA
on the AGMS
Sumantri Slamet Chairman (concurrently member) Independent 2021 - 2026
Commissioner
Fanny Sagitadewi Member Independent Party 2021 - 2026
Rallyati A. Wibowo Member Independent Party 2021 - 2026
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
4. Profile and Qualifications of Audit Committee Fanny Sagitadewi
Members Member
The educational background, certification,
Sumantri Slamet expertise, position, and work experience of
Chairman (concurrently member) members of the Audit Committee can be found
The educational background, certification, in the Company Profile section on page 79 of this
expertise, position, and work experience of 2024 BCA Annual Report.
members of the Audit Committee can be found
in the Company Profile section on page 78 of this Rallyati A. Wibowo
2024 BCA Annual Report. Member
The educational background, certification,
expertise, position, and work experience of
members of the Audit Committee can be found
in the Company Profile section on page 80 of this
2024 BCA Annual Report.
5. Education or Training
Throughout 2024, members of the Audit Committee have carried out the following education or training:
Name Education/Training Organizer Date
Sumantri Slamet It can be found in the Board of Commissioners Chapter - Training Program to Improve the
Competence of Members of the Board of Commissioners section on page 321-322 of this
2024 BCA Annual Report
Fanny Sagitadewi Strategies to Prevent Cyber Attacks OJK Institute February 29, 2024
2024 Emerging Risks In Banking Industry and How IAIB March 8, 2024
Internal Audit Can Help
Provision of Banking Risk Management Maisa Edukasi April 16-17, 2024
Certification Qualification Level 6
CAE Forum IAIB & PwC Indonesia - The New Era PwC, IAIB and CAE October 31, 2024
of Internal Audit: The Adoption of Global Internal Forum (Research &
Audit Standards (GIAS) and the Role of Artificial Development)
Intelligence (AI) in Internal Audit
ESG Training (Capacity Building) Introduction and BCA November 7, 2024
Implementation Plan of IFRS S1 & S2 in Indonesian
Banks
Indonesia Knowledge Forum (IKF): Linear to BCA November 12-13,
Limitless: Advancing Business Exponential Growth 2024
Rallyati A. Wibowo Prospects for FSS Development through open OJK Institute April 23, 2024
finance and Banking NIM BOPO
2024 Internal Auditors Conference Internal Audit July 10-11, 2024
Education
Foundation (YPIA)
Internal Control over Financial Reporting Accounting August 20, 2024
Development
Center FEBUI
Indonesia Knowledge Forum (IKF): Linear to BCA November 12-13,
Limitless: Advancing Business Exponential Growth 2024
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
6. Term of Office b. Independent party’s expertise is evidenced,
The term of office of the Audit Committee is as at a minimum, by the possession of credentials
follows: that support the performance of the
a. The term of office of members of the Audit committee's functions and responsibilities.
Committee is the same as the term of office Credentials include, but are not limited
of the Board of Commissioners, and they may to, credentials in risk management, public
be reappointed for another 1 (one) period. accountancy, accounting and auditing.
b. In the event that: c. Audit committee members shall have the
1) the term of office of the members of the ability, knowledge, and experience to
Audit Committee ends due to the expiry communicate appropriate to their area of
of the term of office of the members expertise.
of the Board of Commissioners, new d. Audit Committee members shall carry
members of the Audit Committee must out their duties and responsibilities in a
be appointed within a maximum of 3 professional manner by applying their
(three) months from the appointment knowledge, expertise and experience.
of the new members of the Board e. Audit Committee members shall follow
of Commissioners or from the date the development of laws and regulations
the new members of the Board of in the banking sector, Capital Market and
Commissioners are declared to have other laws and regulations related to BCA's
passed the fit and proper test by the business activities.
OJK. f. Audit Committee members shall maintain
2) there is a vacancy in the Audit professional competence by following
Committee, i.e., the number of developments and best practices in
members of the Audit Committee is less accounting, auditing, internal control, and
than the required membership due to GCG.
permanent unavailability or resignation g. Audit Committee members are willing to
of a member for any reason, a new continuously improve their competence
member of the Audit Committee must through training and education.
be appointed within 3 (three) months
effective from the date such member Independency Requirements
ceases to hold office due to the a. Audit Committee members are not serving
permanent unavailability or resignation. as a member of a PAF, Law Firm, Public
Appraisal Service Office, or other parties
The terms of office of the members of the providing assurance service, non-assurance
Audit Committee in this period will end at the service, appraisal service and/or other
closing of the 2026 Annual General Meeting consulting services to the BCA within the
of Shareholders (AGMS). last 6 (six) months.
b. Audit Committee members are not
7. Requirements for Audit Committee’s Member currently working or having authority and
General Requirements responsibilities to plan, lead, control, or
a. Audit Committee members are required to supervise the BCA’s activities within the
have good integrity, character and morals. last 6 (six) months, except for a position as
b. Audit Committee members are required to Independent Commissioner.
comply with the BCA Code of Ethics and the c. Audit Committee members are prohibited
Audit Committee Code of Ethics established to originate from members of Board of
by BCA. Directors of other banks.
d. Audit Committee members are not having
Competency Requirements either direct or indirect share ownership in
a. One of Audit Committee members from the BCA.
Independent Party shall have expertise in the e. In the event that an Audit Committee
field of: member acquires BCA’s shares either
1) finance or accounting and at least 5 directly or indirectly as a result of a legal
(five) years’ work experience in finance, event, the member concerned must transfer
and/or accounting; and the shares to other parties within a maximum
2) law or banking and at least 5 (five) years’ period of 6 (six) months after the shares were
work experience in law and/or banking. acquired.
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f. Audit Committee members are not having 8. Independence of Audit Committee Members
affiliated relationship with the members of All members of the Audit Committee are
the Board of Commissioners, the Board of independent parties who have no financial,
Directors, or Major Shareholders of the BCA. management, share ownership, and/or familial
g. Audit Committee members are not having a relationships with members of the Board of
direct or indirect business relationship with Commissioners, members of the Board of
the BCA’s business activities. Directors, and/or Controlling Shareholders or
h. Members from Independent Parties must business relationships with BCA that may affect
be recommended by the Remuneration and their ability to act independently. All members of
Nomination Committee. the Audit Committee also carry out their duties
independently without any intervention from any
party.
The independence aspect of members of the Audit Committee can be seen in the following table:
Independence Aspect Sumantri Slamet Fanny Sagitadewi Rallyati A. Wibowo
Has no financial relationship with the Board of √ √ √
Commissioners and the Board of Directors.
Has no management relationship at the company, √ √ √
subsidiary companies or affiliated companies.
Has no share ownership relationship within the √ √ √
company.
Has no familial relationship with the Board of √ √ √
Commissioners, the Board of Directors, and/or
fellow members of the Audit Committee.
Not serving as administrators of political parties, √ √ √
officials, and government.
9. Duties and Responsibilities of the Audit upholds integrity in carrying out its duties
Committee as well as providing recommendations to
In accordance with OJK Regulation No. 55/ the Board of Commissioners regarding the
POJK.04/2015 dated December 23, 2015 overall annual remuneration for the DAI as
concerning the Establishment and Guidelines for well as performance related rewards.
Implementing the Work of the Audit Committee, d. Ensure DAI communicates with the Board
the Audit Committee has the following duties and of Directors, the Board of Commissioners,
responsibilities: external auditor, and the OJK, Bank Indonesia
as well as other related parties.
Financial Report and Information e. Ensure DAI works independently.
a. Reviewing the financial information that will
be released by BCA to the public and/or External Audit
authorities, and other reports related to BCA a. Provide recommendations based on
financial information. the evaluation results to the Board of
b. Review and report to the Board of Commissioners regarding the appointment,
Commissioners any complaints about the reappointment, and dismissal or
BCA accounting process and financial replacement of the Public Accounting Firm
reporting. (PAF) and/or Public Accountant (PA) that will
audit the financial statements based on:
Internal Audit 1) The independence of PA, PAF, and PAF
a. Provide recommendations to the Board of insiders.
Commissioners regarding the preparation 2) The scope of audit.
of the audit plan, scope and budget of the 3) Audit fees.
Internal Audit Division (DAI). 4) Expertise and experience of the PA,
b. Monitor and review the effectiveness of PAF, and the audit team of PAF.
BCA’s internal audit implementation. 5) Methodologies, techniques and tools
c. Evaluate DAI’s performance in terms of the used by PAF.
adequacy and effectiveness of the internal 6) Benefits of new perspectives obtained
audit function at BCA and ensure that DAI through the replacement of PA, PAF,
and the audit team of PAF.
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7) Potential risk of using audit services by f. Carry out other duties relevant to the
the same PAF consecutively for a long function of the Audit Committee at the
period of time. request of the Board of Commissioners.
8) Results of the evaluation of the provision
of audit services on annual historical 10. Authorities of the Audit Committee
financial information by PA and PAF in In performing its duties, the Audit Committee has
the previous period, if any. the following authorities:
a. Obtain reports from the DAI Head, including
b. Evaluate the implementation of audit among other things the DAI’s work plan, the
services on annual historical financial internal audit implementation report, and the
information by PA and/or PAF. Evaluation internal audit result report.
of the implementation of the provision of b. Access BCA’s documents, data, and
audit services on annual historical financial information regarding employees, funds,
information by PA and/or PAF is carried out assets, and resources as may be required.
at least through: c. Communicate directly with the employees,
1) Conformity of audit implementation including the Board of Directors and any
by PA and/or PAF with applicable Audit parties in charge of the internal audit
Standards. function, risk management, and the Public
2) Adequacy of field work time. Accountant in relation to the duties and
3) Assessment of the scope of services responsibilities of the Audit Committee.
provided and the adequacy of the d. If necessary, involve any independent party
sampling test. other than members of the Audit Committee
4) Recommendations for improvement to assist in the implementation of its duties.
provided by PA and/or PAF. e. Exercise other authorities granted to it by
5) Conformity of Financial Statements the Board of Commissioners.
with applicable Financial Accounting
Standards (SAK). 11. Audit Committee Concurrent Position
6) Providing an independent opinion in The Audit Committee Charter regulates the
the event of a difference of opinion concurrent positions of Audit Committee
between management and PAF for the members. The provisions are as follows:
services it provides. a. The Chairman of the Audit Committee can
only hold concurrent positions as Committee
Process/Internal Control Systems Chairman on a maximum of 1 (one) other
a. Ensure the Board of Directors takes the committee at BCA.
necessary and immediate actions on the b. A member of the Audit Committee that
findings by DAI, PA, and the results of comes from an Independent Party may
supervision conducted by the OJK and BI. concurrently serve as a member of
b. Provide recommendations to the Board of another Committee in the capacity as an
Commissioners to appoint independent Independent Party in BCA, another Bank,
quality assurance from external parties with and/or another company, provided that such
the aim of conducting a review of DAI. member:
1) meets all the required competencies;
Governance and Compliance 2) meets the independence criteria;
a. Monitor and ensure effective and consistent 3) is able to keep BCA’s secrets or
implementation of BCA’s Good Corporate confidential information;
Governance (GCG). 4) complies with BCA’s Code of Ethics and
b. Review and give advice to the Board of the Audit Committee’s Code of Ethics;
Commissioners on potential conflicts of and
interest that may occur at BCA. 5) is able to perform his/her duties and
c. Review BCA’s compliance with the laws responsibilities as a member of the
and regulations in the banking and Capital Audit Committee.
Markets sectors, and other laws and
regulations relating to BCA’s business The implementation of the concurrent positions
activities. of members of the Audit Committee is in
d. Maintain the confidentiality of BCA’s accordance with applicable regulations. The
documents, data, and information. following is information regarding the concurrent
e. Attending BCA’s Annual GMS. positions of members of the Audit Committee
throughout 2024.
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Other Positions (member of the Board of Commissioners,
Name of Committee
Position in the Committee member of the Board of Directors, and/or member of
Member
Committees, and Other Positions)
Sumantri Slamet Chairman Can be found on page 324
Rallyati A. Wibowo Member -
Fanny Sagitadewi Member -
12. Policies and Implementation of Audit Committee Meetings
Procedures for the Audit Committee
Meeting includes the following:
a. Meetings can be held by:
1) physically at BCA’s place of domicile;
2) electronically through teleconferencing, videoconferencing, or other electronic media of similar nature
that allow all the meeting participants to see and/or hear one another directly and participate in the
Meeting.
b. The Mechanism for Adopting Meeting Resolutions:
1) The Audit Committee’s meetings are held in accordance with the needs of BCA, at least once a month.
2) The Audit Committee’s meetings can only be held if attended by a majority (more than 50%) of the
number of members including an Independent Commissioner and Independent Party.
3) The resolutions of the Audit Committee’s Meeting shall be adopted by deliberation for a consensus.
4) If such consensus cannot be reached, the resolutions shall be adopted by a majority vote.
5) The Chairperson of the Committee and each member thereof shall have 1 (one) vote.
6) All decisions of the Audit Committee Meeting are binding for all members of the Audit Committee.
c. Minutes of Meeting:
1) The results of the Audit Committee Meeting must be stated in the Minutes of Meeting, which are signed
by all members of the Audit Committee who are present and properly documented.
2) Dissenting opinions that occur at the Committee Meeting must be clearly stated in the Minutes of
Meeting along with the reasons for the dissent.
3) The results of the Committee Meetings are recommendations that can be optimally used by the Board of
Commissioners.
d. The Audit Committee’s attendance at meetings is at least 75% of the total number of Committee meetings held.
In 2024, the Audit Committee has held 31 (thirty one) meetings.
Data on the attendance of the Committee members at the Audit Committee meetings throughout 2024 is as
follows:
Name Number of Meetings Attendance Percentage
Sumantri Slamet 31 31 100 %
Fanny Sagitadewi 31 31 100 %
Rallyati A. Wibowo 31 31 100 %
Agenda for the implementation of the Audit Committee meetings throughout 2024 is as follows:
No. Date Agenda
1. January 9, 2024 Discussion on the Appointment of Head of DAI
2. January 10, 2024 DAI Maturity Assessment Examination Results by KPMG
3. January 11, 2024 BCA Performance in 2023
4. January 17, 2024 DAI Work Realization 2023
5. January 17, 2024 PwC Clearance Meeting
6. January 17, 2024 Private Meeting with PwC
7. January 22, 2024 Disclosure in the Notes to the 2023 Audit Report
8. February 7, 2024 Evaluation of PwC Performance in 2023 and Appointment of BCA PAF for the 2024
Financial Year
9. February 16, 2024 Discussion of Committee Reports to the Board of Commissioners for the Fourth Quarter
of 2023
10. February 21, 2024 Committee Reporting to the Board of Commissioners for the Fourth Quarter of 2023
11. March 20, 2024 DAI Regular Meeting with the Audit Committee in March 2024
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
No. Date Agenda
12. April 18, 2024 BCA Financial Performance Update for First Quarter of 2024
13. April 18, 2024 Disclosures in the Notes to the First Quarter 2024 Consolidated Financial Statements
14. May 6, 2024 Discussion of Committee Reports to the Board of Commissioners First Quarter of 2024
15. May 7, 2024 DAI Regular Meeting with the Audit Committee in May 2024
16. May 15, 2024 Committee Reporting to the Board of Commissioners for the First Quarter of 2024
17. June 14, 2024 DAI Regular Meeting with the Audit Committee in June 2024
18. July 16, 2024 Disclosures in the Notes to the First Semester 2024 Consolidated Financial Statements
19. July 17, 2024 DAI Work Realization Semester I - 2024
20. July 18, 2024 BCA Financial Performance Update Semester I-2024
21. August 15, 2024 Discussion of Committee Reports to the Board of Commissioners for
the Second Quarter of 2024
22. August 27, 2024 PwC Plans to Audit BCA’s Financial Statements for Financial Year 2024
23. August 28, 2024 Committee Reporting to the Board of Commissioners for the Second Quarter of 2024
24. September 30, 2024 Regular Meeting of DAI with Audit Committee in September 2024
25. October 21, 2024 Update on BCA's Financial Performance for the Third Quarter of 2024
26. October 22, 2024 Discussion on Disclosure within the Notes of the Consolidated Financial Statements for
the 3rd Third Quarter of 2024
27. October 28, 2024 Regular Meeting of DAI with Audit Committee in October 2024
28. November 11, 2024 Discussion of the Committee's report to the Board of Commissioners for
the Third Quarter of 2024
29. November 20, 2024 Committee Reporting to the Board of Commissioners for the Third Quarter of 2024
30. December 16, 2024 Regular Meeting of DAI with Audit Committee in December 2024
31. December 16, 2024 Update Progress PwC (Hardclose)
13. Realization of the Work Program and e. Held 5 (five) meetings with DAI for:
Implementation of Audit Committee Activities i. Evaluate annual planning.
in 2024 ii. Evaluating the implementation of
The realization of the BCA Audit Committee internal audits every semester.
Work Program as stated in the Audit Committee iii. Conduct discussions on audit results
guidelines or Charter throughout 2024 is as that are considered significant.
follows: f. Reviewed internal audit results report and
a. KAP Rintis, Jumadi, Rianto & Rekan monitor their follow-up.
(previously known as KAP Tanudiredja, g. Reviewed BCA’s compliance with the
Wibisana, Rintis & Rekan) - a member provisions, regulations, and laws that apply
firm of the PwC global network was in the banking sector through reviewing
evaluated and recommended to the Board compliance reports on prudential provisions
of Commissioners for reappointment that are reported every semester.
to conduct an audit of BCA’s Financial h. Reviewed credit portfolio reports published
Statements for the financial year 2024. every semester.
b. Held a meeting with PAF Rintis, Jumadi, i. Monitored the implementation of risk
Rianto & Rekan (a member firm of the management through quarterly reports on
PwC global network) to discuss the plan BCA’s Risk Profile and monthly reports on
and scope of the audit of BCA’s Financial the Operation Risk Management Information
Statements for the 2024 financial year. System (ORMIS).
c. Held a meeting with Klynveld Peat Marwick j. Conducted review on:
Goerdeler Public Accountant Firm to discuss i. The results of the examination by OJK
plans for a performance review and maturity and its follow-up.
assessment of DAI for the period of July 1, ii. Management Letter from PAF Rintis,
2020 to June 30, 2023. Jumadi, Rianto & Rekan - a member
d. Held a meeting with the Accounting Group firm of the PwC global network and its
to review the BCA Financial Statement, follow-up.
which will be published every quarter.
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k. Reported the results of regular reviews and • OJK Circular Letter No.34/SEOJK.03/2016,
evaluations on the aspects of governance, concerning the implementation of Risk
risk management, compliance, and control Management for Commercial Banks.
to the Board of Commissioners every • BCA’s Articles of Association.
quarter. • Board of Commissioners’ Decree No. 212/
l. Attended a virtual AGMS, Analyst Meeting SK/KOM/2024 dated December 10, 2024,
and BCA National Working Meeting in 2024. concerning the Risk Oversight Committee
m. In accordance with OJK Regulation No. 1/ Charter of PT Bank Central Asia Tbk.
POJK.03/2019 on the Implementation of • Board of Directors’ Decree No. 0212/
the Internal Audit Function by Commercial SK/DIR/2023 dated December 18, 2023,
Banks, performed an assessment on the DAI, concerning the appointment of the Members
whose results are submitted to the Board of of the Risk Oversight Committee.
Commissioners to be forwarded to the RNC.
n. Conducted studies and held a meeting 2. ROC Charter
with PAF Rintis, Jumadi, Rianto & Rekan - a ROC has work guidelines stipulated in the ROC
member firm of the PwC global network, to Charter, which has been ratified based on the
discuss the final results of the audit of BCA’s Board of Commissioners’ Decree No. 212/SK/
Financial Statements for the 2024 financial KOM/2024 dated December 10, 2024, concerning
year along with the Management Letter. the Risk Oversight Committee Charter of PT Bank
Central Asia Tbk.
II. RISK OVERSIGHT COMMITTEE
Risk Oversight Committee (ROC) was formed to The scopes governed in the ROC Charter are as
assist the Board of Commissioners in carrying out follows:
risk oversight responsibilities in accordance with • Duties and Responsibilities.
applicable regulations. • Authorities.
• Composition and Membership.
1. Legal Basis • Eligibility Criteria for Membership.
The legal basis for the establishment of ROC • Dual Capacity.
refers to: • Term of Office.
• OJK Regulation No. 5 of 2024 concerning • Work Mechanism.
Determination of the Supervision Status and • Work Hours.
Handling of Commercial Bank Problems. • Meeting, Quorum, and Decision Making.
• OJK Regulation concerning the • Competence.
Implementation of Governance for • Reporting.
Commercial Banks. • Conflict of Interest.
• OJK Regulation No. 4/POJK.03/2016 • Fraud Prevention.
concerning the Assessment of Commercial
Bank Soundness Level. The ROC Charter have been uploaded on the
• OJK Regulation No. 18/POJK.03/2016, BCA website in the Good Corporate Governance
concerning the implementation of Risk section. (https://www.bca.co.id/en/tentang-
Management for Commercial Banks. bca/tata-kelola/Struktur-Organisasi)
• OJK Regulation No.11/POJK.03/2022
concerning the Implementation of 3. Structure and Membership of ROC
Information Technology by Commercial The composition of BCA ROC membership has
Banks. complied with the applicable provisions of the
• OJK Circular Letter No.13/SEOJK.03/2017, OJK Regulation and the ROC Charter. Throughout
concerning the implementation of 2024, there were changes to BCA ROC members.
Governance for Commercial Banks. BCA ROC has 4 (four) members who have been
• OJK Circular Letter No.14/SEOJK.03/2017 appointed by the Board of Directors through
concerning Assessment of the Soundness the Board of Directors’ Decree No. 0212/SK/
Level of Commercial Banks. DIR/2023 dated December 18, 2023, and based
• OJK Circular Letter No. 21/SEOJK.03/2017, on the decision in the Minutes of the Board of
concerning the implementation of Risk Commissioners Meeting No. 050/RR/KOM/2023
Management in the Use of Information dated December 6, 2023.
Technology by Commercial Banks.
378 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Composition of the ROC Members as of December 31, 2024
Term of Office based
Name Position in the Committee Position at BCA
on the AGMS
Cyrillus Harinowo Chairman (concurrently Independent Commissioner 2021 - 2026
member)
Endang Swasthika Wibowo Member Independent Party 2021 - 2026
Joanes Justira Gunawan Member Independent Party 2024 - 2026
Reinhard Harianja Member Independent Party 2024 - 2026
4. ROC Member Profiles and Qualifications
Cyrillus Harinowo
Chairman (concurrently member)
The educational background, certification, expertise, position, and work experience of ROC members can be
found in the Company Profile section on page 76 of this 2024 BCA Annual Report.
Endang Swasthika Wibowo
Member
The educational background, certification, expertise, position, and work experience of ROC members can be
found in the Company Profile section on page 81 of this 2024 BCA Annual Report.
Joanes Justira Gunawan
Member
The educational background, certification, expertise, position, and work experience of ROC members can be
found in the Company Profile section on page 82 of this 2024 BCA Annual Report.
Reinhard Harianja
Member
The educational background, certification, expertise, position, and work experience of ROC members can be
found in the Company Profile section on page 82 of this 2024 BCA Annual Report.
5. Education or Training
Throughout 2024, ROC members have carried out the following education or training:
Name Education/Training Organizer Date
Cyrillus It can be found in the Board of Commissioners chapter in the Training Program to Improve the
Harinowo Competence of Members of the Board of Commissioners section on page 321 of this 2024 BCA
Annual Report.
Endang Swathika Economic and Financial Outlook for 2024 OJK Institute February 22, 2024
Wibowo Strategies to Prevent Cyber Attacks OJK Institute February 29, 2024
Artificial Intelligence Changes The Face of Financial OJK Institute March 7, 2024
Sector
Opportunities and Challenges of Digital Assets in OJK Institute March 14, 2024
Indonesia
Idea-Talk-Online: OJK Institute April 23, 2024
1. Prospects for Open Finance in the Context of
Embedded Finance
2. Impact of Bank Conglomeration on Banking
Performance and Stability
Provision of Banking Risk Management Certification GPS & Partners April 24-25, 2024
Qualification Level 4
Provision of Banking Risk Management Certification GPS & Partners June 20-21, 2024
Qualification Level 5
How to Mitigate Transition and Physical Risks in Financial OJK Institute July 4, 2024
Sector
Provision of Banking Risk Management Certification Efektif Pro - July 23-24, 2024
Qualification Level 6 Knowledge Source
Market Conduct Implementation Strategy OJK Institute August 8, 2024
How to Prevent Money Loundering and Terrorism OJK Institute September 3, 2024
Financing
2024 Annual Report PT Bank Central Asia Tbk 379
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Name Education/Training Organizer Date
The Future of Data Analytics in The Financial Industry OJK Institute September 12, 2024
Banking Risk Management Certification Briefing GPS & Patners September 28, 2024
Qualification Level 7
ESG Training (Capacity Building) Introduction and BCA November 7, 2024
Implementation Plan of IFRS S1 & S2 in Indonesian Banks
Indonesia Knowledge Forum (IKF): Linear to Limitless: BCA November 12-13,
Advancing Business Exponential Growth 2024
Joanes Justira Banking Risk Management Certification Briefing Maisa Edukasi March 18-19, 2024
Gunawan Qualification Level 6
Banking Risk Management Certification Briefing Maisa Edukasi June 6-7, 2024
Qualification Level 7
ESG Training (Capacity Building) Introduction and BCA November 7, 2024
Implementation Plan of IFRS S1 & S2 in Indonesian Banks
Indonesia Knowledge Forum (IKF): Linear to Limitless: BCA November 12-13,
Advancing Business Exponential Growth 2024
Reinhard Preparation for Banking Risk Management Certification MRK-BCA May 29, 2024
Harianja Qualification Level 7
Banking Risk Management Certification Briefing Maisa Edukasi June 6-7, 2024
Qualification Level 7
ESG Training (Capacity Building) Introduction and BCA November 7, 2024
Implementation Plan of IFRS S1 & S2 in Indonesian Banks
Indonesia Knowledge Forum (IKF): Linear to Limitless: BCA November 12-13,
Advancing Business Exponential Growth 2024
Qualification Level 7 Risk Management Refreshment BARa December 18, 2024
Seminar
6. Term of Office 7. ROC Membership Requirements
The term of office for ROC members is as follows: ROC membership requirements are as follows:
1) The term of office of ROC members may a. ROC members must have good integrity,
not be longer than the term of office of the character, and morals.
Board of Commissioners as stipulated in b. Members of the Board of Directors are
the BCA Articles of Association and can be prohibited from becoming ROC members.
reappointed. c. Any former member of the Board of Directors
2) In case of: or former Executive Officer of BCA or other
a. the term of office of the members of the parties affiliated with BCA in a way that may
ROC ends due to the expiry of the term affect their ability to act independently may
of office of the members of the Board not become an Independent Party in the ROC
of Commissioners as described in item until the lapse of a minimum of 6 (six) months’
1) above, new members of the Audit cooling-off period.
Committee must be appointed within d. The requirement for the minimum of 6 (six)
3 (three) months from the appointment months’ cooling-off period shall not apply to
of the new members of the Board of any former member of the Board of Directors
Commissioners or from the date the new in charge of the oversight function or any
members of the Board of Commissioners former Executive Officer charged with the
are declared to have passed the fit and implementation of the oversight function at
proper test by the OJK. BCA.
b. there is a vacancy in the ROC, i.e., the e. Independent Commissioners is a member
number of members of the ROC becoming of Board of Commissioners who has no
less than the required membership due to financial, management, ownership and/or
permanent unavailability or resignation of family relationships with any member of the
a member for any reason, a new member Board of Directors, any member of the Board
of the ROC must be appointed within 3 of Commissioners and/or any controlling
(three) months from the occurrence of shareholder including the ultimate
the vacancy. controlling shareholder, or any relationship
with BCA that may affect their ability to act
The term of office of ROC members for this independently.
period will end at the closing of the 2026 AGMS.
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
f. Independent Party is a party from outside the Bank that has no financial, management, ownership and/or
family relationships with any member of the Board of Directors, any member of the Board of Commissioners
and/or any controlling shareholder, or any relationship with the Bank that may affect their ability to act
independently.
g. The Independent Party that becomes a member of the ROC must be recommended by the Remuneration and
Nomination Committee.
8. Independence of ROC Members
All ROC members are independent parties who do not have financial, management, share ownership, and/
or familial relationships with members of the Board of Commissioners, members of the Board of Directors,
and/or Controlling Shareholders, as well as business relationships with BCA, that may affect their ability to act
independently. All ROC members carry out their duties independently without any intervention from any party.
The independence aspect of members of the ROC can be seen in the following table:
Endang Joanes
Cyrillus Reinhard
Independence Aspect Swathika Justira
Harinowo Harianja
Wibowo Gunawan
Has no financial relationship with the Board of Commissioners √ √ √ √
and the Board of Directors.
Has no management relationship at the company, subsidiaries or √ √ √ √
affiliated companies.
Has no share ownership relationship at the company. √ √ √ √
Has no familial relationship with the Board of Commissioners, the √ √ √ √
Board of Directors, and/or other ROC members.
Not serving as administrators of political parties, √ √ √ √
officials, and government.
9. Duties and Responsibilities of ROC 3) Liquidity Risk;
ROC has the following duties and responsibilities: 4) Operational Risk;
a. Shall conduct the following duties and 5) Legal Risk;
responsibilities, at least: 6) Reputation Risk;
1) Evaluating the consistency between 7) Strategic Risk; and
the risk management policy and the 8) Compliance Risk.
implementation of BCA’s policy. d. ROC also monitors the implementation of
2) Monitoring and evaluating the risk of the following risks:
implementation of duties of the Risk 1) Country Risk;
Management Work Unit, the Risk 2) Transfer Risk;
Management Committee, and the 3) IT Risk;
Information Technology Steering 4) Cyber Risk;
Committee 5) Outsourcing Risk;
b. The results of the evaluation referred 6) Climate; and
to in paragraph a.1) and the results of 7) ESG Risk.
the monitoring and evaluation referred and other risks in banking field.
to in paragraph a.2) shall be used to e. ROC supervises the implementation of risk
make recommendations to the Board of evaluation and testing (stress testing).
Commissioners to ensure effectiveness of f. Assisting the Board of Commissioners in
carrying its duties and responsibilities in carrying out its duties of maintaining and
the field of risk management and ensure monitoring the risk-based Bank's Soundness
that the risk management policy is properly Level, especially risk profile parameters.
implemented. g. Assisting the Board of Commissioners
c. Support the Board of Commissioners in in monitoring and evaluating the
carrying out its duties and responsibilities in the implementation of the Recovery Plan.
implementation of risk management, including, h. Develop working guidelines and rules for the
among other things, the following risks: ROC (the Charter) and conducting reviews
1) Credit Risk; as needed.
2) Market Risk; i. Carry out other duties and responsibilities
given by the Board of Commissioners from
time to time.
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10. Authorities of ROC 11. ROC Member Concurrent Position
ROC shall have the following authorities: The ROC Committee Charter regulates the
a. Perform activities to carry out their duties concurrent positions of ROC Committee
and responsibilities, among others: members. The provisions are as follows:
1) Access to BCA's data, documents, a. The Chairperson of the ROC must not
information. serve as Committee Chairperson in more
2) Communicating and coordinating with than 1 (one) other committee (May only
parties related to the committee's serve as chairman of a maximum of 2 (two)
duties. committees)
3) Carry out other authorities granted by b. A member of the ROC that comes from an
the Board of Commissioners. Independent Party may concurrently serve
b. Independent Party of ROC members must as a member of another committee in the
perform their duties, responsibilities, and capacity as an Independent Party in BCA,
powers with integrity (including not being another Bank, and/or another company,
listed as a party prohibited from being provided that such member:
the main party, not being listed as a party 1) meets all the required competencies
prohibited from being the main party, and qualifications;
and not having bad credit or financing), 2) meets the independence criteria;
independence, competence and maintaining 3) is able to keep the bank’s secrets or
reputation (including maintaining the confidential information;
BCA's reputation and maintaining personal 4) complies with the applicable code of
reputation). ethics; and
5) does not neglect his/her duties and
responsibilities as a member of the
ROC.
The implementation of the concurrent positions of ROC members are in accordance with applicable regulations.
The following is information regarding the concurrent positions of ROC members throughout 2024:
Other Positions (member of the Board of Commissioners, member of
Name of Committee Position in the
the Board of Directors, and/or member of Committees, and Other
Member Committee
Positions)
Cyrillus Harinowo Chairman Can be found on page 324
Endang Swasthika Wibowo Member -
Joanes Justira Gunawan Member Commissioner at PT Zeals Digital Asia
Reinhard Harianja Member Member of the Audit Committee at PT Perusahaan Perdagangan Indonesia
12. Policies and Implementation of ROC Meetings 5) Meetings that are attended non-
ROC meeting procedures include: physically are conducted via
a. Organizing the Meeting: teleconference media, video
1) The ROC’s Meeting shall be held conferences, or other electronic media
according to the needs of BCA, at least facilities that must allow all meeting
1 (one) time in 1 (one) month. participants to see and/or hear each
2) ROC meetings are held if attended by other directly and participate in the
the majority of KPR members (more meeting.
than 50%) including 1 (one) Independent 6) Invitations and meeting materials
Commissioner. must be distributed to members of the
3) The attendance rate of ROC members committee no later than 5 (five) working
in meetings is at least 75% (seventy- days prior to the meeting date.
five percent) of the number of ROC b. Meeting Decision Making:
meetings held. 1) The decision of the ROC Meeting must
4) Meetings can be held either in person first be made based on deliberation to
or through electronic media, or a reach a consensus.
combination of the two. 2) In the event that deliberation for
consensus does not occur, the decision is
made based on the majority vote with the
principle of 1 (one) person 1 (one) vote.
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3) All ROC Meeting decisions are binding for all ROC members.
c. Minutes of Meeting:
1) The results of the ROC meeting must be included in the minutes of meeting, which must be signed by all
ROC members present and documented in accordance with the law.
2) Dissenting opinions that occur at the ROC Meeting must be clearly stated in the Minutes of Meeting
along with the reasons for the dissent.
3) The results of the ROC Meeting are recommendations that can be utilized optimally by the Board of
Commissioners and the Board of Directors.
Throughout 2024, ROC has held 17 (seventeen) meetings.
Data on the attendance of Committee members in the implementation of ROC meetings throughout 2024 are as
follows:
Name Number of Meetings Attendance Percentage
Cyrillus Harinowo 17 17 100 %
Endang Swasthika Wibowo 17 17 100 %
Joanes Justira Gunawan 17 17 100 %
Reinhard Harianja 17 17 100 %
Agenda on the implementation of ROC meeting throughout 2024 is as follows:
No. Date Agenda
1. January 24, 2024 Analysis of the Impact of Changes in BCA’s Credit Structure and Development of
Assessment Results on Information Technology Vulnerabilities and Security
2. February 19, 2024 Discussion of the Committee's Report to the Board for the Fourth Quarter of 2023
3. February 21, 2024 Committee Reporting to the Board of Commissioners for the Fourth Quarter of 2023
4. March 25, 2024 Data and Information Data Center
5. April 17, 2024 Refreshing Session from MRK re/BOC Reporting Package
6. April 22, 2024 Human Error Review
7. May 6, 2024 Discussion of the Committee's Report to the Board for the First Quarter of 2024
8. May 15, 2024 Committee Reporting to the Board of Commissioners for the First Quarter of 2024
9. June 25, 2024 Follow-up Discussion to the Minutes of the Board of Commissioners Meeting
10. July 24, 2024 Strategic Risk Evaluation
11. August 19, 2024 Discussion of the Committee's Report to the Board for the Second Quarter of 2024
12. August 28, 2024 Committee Reporting to the Board of Commissioners for the Second Quarter of 2024
13. September 25, 2024 Discussion on the Update of the Risk Oversight Committee Charter and Review of the
Economic Outlook, Credit Risk and Market Risk and Liquidity.
14. October 31, 2024 Review of Economic Prospects and Evaluation of Credit, Market and Liquidity Risks
15. November 15, 2024 Discussion of the Committee's Report to the Board for the Third Quarter of 2024
16. November 20, 2024 Committee Reporting to the Board of Commissioners for the Third Quarter of 2024
17. December 16, 2024 Discussion of Topics for the Risk Oversight Committee's Report for the Fourth Quarter
of 2024 and Discussion of Matters need to Learned Further by the Risk Oversight
Committee in 2025
13. Realization of Work Program and Implementation of Activities of ROC in 2024
Throughout 2024, ROC has carried out the following:
a. Reviewed and adjusted the Risk Management Committee Charter.
b. Monitored the implementation of the duties of the Risk Management Committee, the Risk Management
Divison and the Information Technology Steering Committee (ITSC).
c. Monitored and analyzed BCA’s risk profile and specifically studied credit risk, operational risk, market risk,
liquidity risk, as well as reputation risk.
d. Performed analysis and evaluation on the results of stress tests for credit risk, market risk, and liquidity risk.
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e. Ensuring that the implementation of Good • Board of Commissioners Decree No.035/
Corporate Governance is carried out SK/KOM/2017 dated February 24, 2017
properly by attending the 2024 BCA National regarding the Structure of the Remuneration
Work Meeting physically and attending and Nomination Committee (RNC).
Analyst Meeting virtually. • Board of Directors Decree No.064B/SK/
f. Monitored the realization of the DIR/2021 dated April 7, 2021, concerning
implementation of Risk Management, the Appointment of Members of the
particularly the control and limit of Remuneration and Nomination Committee.
credit, liquidity and market risk, as well as • BCA Governance Guidelines, dated June 30,
operational risk, every month. 2021.
g. Monitored the developments, impacts, • Board of Commissioners Decree No. 003/SK/
and risk mitigation in general related to KOM/2023, concerning the Remuneration
the COVID-19 pandemic and the global and Nomination Committee Charter.
economic downturn.
h. Analyze changes in strategic risk profiles 2. RNC Charter
and parameters due to changes in business RNC has a Remuneration and Nomination
and economic activity patterns due to the Committee Charter in place to carry out its duties
impact of the pandemic and its response. and responsibilities, as outlined in the Board of
i. Conduct credit risk and strategic risk analysis Commissioners Decree No. 003/SK/KOM/2023,
evaluations on credit portfolios. concerning the Remuneration and Nomination
j. Analyze and evaluate operational risks Committee Charter.
and strategic risks related to payment
transactions. The coverage regulated in the RNC Charter
k. Evaluate the implementation of third-party includes:
risk management. • Membership Structure.
l. Evaluate the Risk Appetite Statement. • Membership Requirements.
m. Monitor and explore new regulations related • Competency and Term of Office.
to risk management and IT risk management • Disclosure.
governance. • Duties and responsibilities.
• Authority, Working Mechanism and Working
III. REMUNERATION AND NOMINATION COMMITTEE Time.
Remuneration and Nomination Committee (RNC) was • Committee Meetings.
formed to assist the Board of Commissioners in carrying • Reporting and Closing.
out policy development and the implementation of • Periodic evaluation of the RNC Charter
BCA’s remuneration and nomination.
The RNC Work Guidelines and Rules have been
1. Legal Basis uploaded to the Corporate Governance section
The legal basis for establishing the RNC refers to: of the BCA website in (https://www.bca.
• OJK Regulation No.34/POJK.04/2014 co.id/en/tentang-bca/tata-kelola/Struktur-
concerning the Nomination and Organisasi).
Remuneration Committee of Issuers or
Public Companies. 3. Structure and Membership of RNC
• OJK Regulation No. 45/POJK.03/2015 The composition of the BCA RNC membership
concerning Implementation of Governance complies with the applicable provisions according
in Provision of Remuneration for Commercial to OJK Regulation No. 34/POJK.04/2014
Banks. concerning the Nomination and Remuneration
• OJK Regulation concerning the Committee of Issuers or Public Companies and
Implementation of Governance for as stipulated in the RNC Work Guidelines and
Commercial Banks. Rules. In 2024, BCA RNC has 3 (three) members
• OJK Circular Letter No. 13/SEOJK.03/2017 who have been appointed based on the Board of
concerning Implementation of Governance Directors Decree No. 064B/SK/DIR/2021 dated
for Commercial Banks. April 7, 2022, and the decision in the Minutes of
• Articles of Association of PT Bank Central Meeting of the Board of Commissioners No. 03/
Asia, Tbk dated August 24, 2020. RR/KOM/2021 dated January 20, 2021.
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Composition of RNC Members as of December 31, 2024
Term of Office based
Name Position in the Committee *) Position at BCA
on the AGMS
Raden Pardede Chairman Independent Commissioner 2021 - 2026
D.E. Setijoso Member President Commissioner 2021 - 2026
Rudi Lim Member Head of Human Capital 2021 - 2026
*)
Management Division
*) The Head of the Human Capital Management Division is an Executive Officer who has knowledge of the remuneration system and/or nomination and
succession plan
4. RNC Member Profiles and Qualifications
Raden Pardede
Chairman
The educational background, expertise, position, and work experience of RNC members can be found on page 77
in the Company Profile section of this 2024 BCA Annual Report.
D.E. Setijoso
Member
The educational background, expertise, position, and work experience of RNC members can be found on page 74
in the Company Profile section of this 2024 BCA Annual Report.
Rudi Lim
Member
The educational background, expertise, position, and work experience of RNC members can be found on page 84
in the Company Profile section of this 2024 BCA Annual Report.
5. Education or Training
In 2024, RNC members have participated in the following education or training:
Name Education/Training Organizer Location/Medium Date
Raden Pardede It can be found in the Board of Commissioners chapter in the Training Program to Improve the
Competence of Members of the Board of Commissioners section on page 321 of this 2024 BCA
Annual Report.
D.E. Setijoso It can be found in the Board of Commissioners chapter in the Training Program to Improve the
Competence of Members of the Board of Commissioners section on page 321 of this 2024 BCA
Annual Report.
Rudi Lim Beautiful Life BCA Yogyakarta June 2-7, 2024
BCA Leader + BCA Jakarta August 15-16, 2024
The Craft of Being a Leader Boston Consulting Group Singapore, zoom September 4-6,
Leadership Institute online 2024
6. Term of Office 2. In the event the RNC is required to have more
The term of office of RNC members ends at the than 3 (three) members, it must include at
end of the term of office of the Chair of the RNC, least 2 (two) independent commissioners.
who is also an Independent Commissioner of the 3. RNC members who come from Independent
BCA, and they can be re-elected to serve for the Parties can hold concurrent positions as
next term. The terms of office of RNC members Independent Parties for other Committee
in this period will end at the closing of the 2026 members at BCA, other banks, and/or other
Annual GMS. companies, as long as the individual:
a. Have no affiliation with BCA, members
7. RNC Membership Requirements of the Board of Directors, members of
RNC membership requirements are as follows: the Board of Commissioners, or Major
Shareholders of BCA.
General Requirements and Competence b. Have experience related to Nomination
1. The Chairman of the RNC can hold concurrent and/or Remuneration.
positions as the Chairman of 1 (one) other c. Does not hold concurrent positions as a
committee at BCA at the same time. member of other committees owned by
BCA.
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4. RNC members must comply with the BCA Code of Ethics.
5. Executive officers in charge of human resources or employee representatives who are members of the
committee must have knowledge of the remuneration and/or nomination system as well as the succession
plan of BCA.
Independence Requirements
1. RNC members are prohibited from being members of the Board of Directors of BCA, either at the same bank
or at another bank.
2. RNC members from independent parties must come from parties outside of BCA that do not have financial,
management, share ownership relationships with controlling shareholders and/or relationships with BCA that
may affect their ability to act independently.
8. Independence of RNC Members
All members of RNC have fulfilled the independence aspect, namely not having financial, management, share
ownership, and/or familial relationships with members of the Board of Commissioners, members of the Board
of Directors, and/or Controlling Shareholders, as well as business relationships with BCA that could affect their
ability to act independently. All RNC members carry out their duties independently without any intervention from
any party.
Aspects of Independence of RNC members are explained in the following table:
Independence Aspect Raden Pardede D.E. Setijoso Rudi Lim
Have no financial relationship with the Board of Commissioners √ √ √
and Board of Directors.
Have no management relationship within the √ √ √
company, its subsidiaries, or affiliated companies.
Have no share ownership relationship at the company. √ - -
Have no familial relationship with the Board of √ √ √
Commissioners, Board of Directors, and/or fellow members of
the Remuneration and Nomination Committee
Not serving as administrators of political parties, officials, √ √ √
and government.
9. Duties and Responsibilities of RNC b. Assisting the Board of Commissioners in
In carrying out its functions, the RNC has the evaluating performance according to the
following duties and responsibilities: remuneration received by each member of
the Board of Directors and/or members of
Related to the remuneration function: the Board of Commissioners.
Evaluate and ensure that BCA’s remuneration c. Conduct periodic evaluations of the
policies comply with applicable regulations and implementation of the remuneration policy.
are based on performance, risk, fairness with
peer groups, long-term goals and strategies, the Related to the nomination function
fulfillment of reserves as stipulated in laws and a. Develop and recommend to the Board of
regulations, and the potential income of BCA in Commissioners regarding systems and
the future. procedures for selecting and/or replacing
a. Recommend to the Board of Commissioners members of the Board of Commissioners
regarding: and the Board of Directors for submission to
1) Remuneration policy for the Board the GMS.
of Commissioners and the Board of b. Recommend to the Board of Commissioners
Directors for submission to the GMS. regarding:
2) The structure and amount of 1) Policies and criteria required in the
remuneration for members of the Board nomination process.
of Directors and/or members of the 2) Candidates for members of the Board
Board of Commissioners. of Commissioners and/or candidates
3) Remuneration policy for Executive for members of the Board of Directors
Officers and employees as a whole for for submission to the GMS.
submission to the Board of Directors by 3) Composition of position of members of
the Board of Commissioners. the Board of Directors and/or members
of the Board of Commissioners.
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4) Competency development program b. Communicating with work units and other
for members of the Board of Directors parties within BCA to obtain information or
and/or members of the Board of documents related to the implementation of
Commissioners. RNC duties.
5) Performance evaluation policy for c. Obtain input/suggestions from parties
members of the Board of Directors outside of BCA related to RNC duties.
and/or members of the Board of d. Carry out other authorities granted by the
Commissioners. Board of Commissioners.
c. Recommend independent parties as
candidates for members of the Audit 11. Policies and Implementation of RNC Meetings
Committee and Risk Oversight Committee RNC meetings can only be held if they are
to the Board of Commissioners. attended by at least 51% (fifty one percent) of the
d. Assist the Board of Commissioners in total committee members, including Independent
evaluating the performance of members Commissioners and Executive Officers in charge
of the Board of Directors and/or members of the human resources function. Throughout
of the Board of Commissioners based on 2024, RNC has held 5 (five) meetings.
benchmarks that have been prepared as
evaluation material. The results of the RNC meeting were presented
• Carry out other tasks given by the as follows:
Board of Commissioners related a. The results of the RNC meeting must be
to remuneration and nomination outlined in the minutes of the meeting,
in accordance with applicable which include the date of the meeting, the
regulations. attendance of members of the Remuneration
• Report the results of studies and and Nomination Committee, the meeting
recommendations related to the agenda, and meeting materials.
duties of the RNC to the Board of b. Dissenting opinions that occur at a
Commissioners, if necessary. committee meeting must be clearly stated
in the minutes of the meeting along with the
10. Authorities of RNC reasons for the dissent.
In carrying out its duties, the RNC has the following
authorities: Data on the attendance of Committee members
a. Access BCA documents, data, and at RNC meetings as of December 31, 2024 is as
information regarding employees, funds, follows:
assets, and resources needed.
Name Number of Meetings Attendance Percentage
Raden Pardede 5 5 100 %
D.E. Setijoso 5 5 100 %
Rudi Lim 5 5 100 %
Out of the 5 (five) RNC meetings, there were 3 (three) meeting with a discussion related to remuneration, 1 (one)
meetings with a discussion related to performance evaluation, and 1 (one) meeting with a discussion related to
other topics, with the following details:
No. Date Agenda
1 January 24, 2024 Discussion on the Evaluation of the Self-Assessment Results of the Board of Directors and
the Board of Commissioners
2 February 7, 2024 Recommendations for Distribution of Tantiem for the Financial Year 2023 to members of
the Board of Commissioners & the Board of Directors
3 February 28, 2024 Recommendation to the MRK and DAI Division regarding variable remuneration payments
4 March 14, 2024 Recommendations for Remuneration Packages for Members of the Board of
Commissioners and the Board of Directors for the term of office 2024 to 2026.
5 June 27, 2024 Analysis of Remuneration Data for Members of the Board of Commissioners and the
Board of Directors
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12. RNC Remuneration IV. INTEGRATED GOVERNANCE COMMITTEE
RNC members receive salary, honorarium, and/ Integrated Governance Committee (IGC) was formed
or allowances according to their position at BCA by and reports to the Board of Commissioners at BCA
without earning additional remuneration as RNC as the Main Entity in the financial conglomerate. The
member. IGC was formed with the aim of assisting the Main
Entity’s Board of Commissioners in supervising the
13. Realization of the Work Program and implementation of Integrated Governance in the BCA
Implementation of RNC Activities in 2024 Financial Conglomeration.
The realization of the BCA RNC work program for
2024 is as follows: The composition of the membership of the BCA
a. Prepare recommendations regarding Financial Conglomerate can be found in the Structure
proposals for granting tantiem to the Board of the BCA Financial Conglomerate section on page
of Commissioners and the Board of Directors 517 of this 2024 BCA Annual Report.
for BCA’s performance in 2023.
b. Prepare recommendations regarding 1. Legal Basis
the proposed Remuneration Package for The legal basis for establishing the IGC refers to:
Members of the Board of Commissioners • PBI No. 11/33/PBI/2009 concerning the
and Directors for the term of office from Implementation of Good Corporate
2024 to 2026 Governance for Commercial Banks and
c. Evaluate the results of the self-assessment Sharia Business Units.
of the Board of Directors and Board of • OJK Regulation on the Implementation of
Commissioners. Integrated Risk Management.
d. Develop recommendations regarding • OJK Regulation on the Implementation of
whether or not it is necessary to postpone Integrated Governance.
or withdraw deferred variable remuneration • OJK Regulation No. 21/POJK.04/2015,
payments from Material Risk Takers concerning Implementation of Public
Company Governance Guidelines.
14. Policy Regarding the Succession of the Board of • OJK Regulation No. 26/POJK.03/2015,
Directors concerning Integrated Minimum Capital
BCA has and implements a succession policy for Adequacy Provision Requirements for
the Board of Directors and/or senior management Financial Conglomerates.
that aims to prepare for leadership regeneration • OJK Regulation No. 36/POJK.05/2015,
in BCA. The main contents of BCA’s Board of concerning Good Corporate Governance
Directors Succession Policy are as follows: for Venture Capital Companies and
a. Develop and provide recommendations OJK Regulation No. 30/POJK.05/2014,
to the Board of Commissioners regarding concerning Good Corporate Governance
the system and procedures for selecting for Financing Companies as revoked by
and/or replacing members of the Board of OJK Regulation No. 48 of 2024 on Good
Commissioners and Board of Directors for Governance for Financing Institutions,
submission to the GMS. Venture Capital Companies, Microfinance
b. Provide recommendations to the Board Institutions, and Other Financial Services
of Commissioners regarding prospective Institutions.
members of the Board of Commissioners • OJK Regulation No. 73/POJK.05/2016,
and/or Board of Directors for submission to concerning Good Corporate Governance
the GMS. for Insurance Companies.
c. Several executives who are considered to • OJK Regulation No. 45/POJK.03/2020,
have the potential for further development concerning Financial Conglomerates as
will be rotated in order to prepare BCA revoked by OJK Regulation No. 30 of 2024
executives to gain complete knowledge and concerning Financial Conglomerates
experience as officials at the head office or and Parent Companies of Financial
branch offices. Conglomerates.
• OJK Regulation No. 17 of 2023 concerning
In 2024, there were no changes in the the Implementation of Governance for
composition of the Board of Directors and Board Commercial Banks.
of Commissioners.
388 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
• OJK Circular Letter No. 15/SEOJK.03/2015, • Duties and responsibilities.
concerning Implementation of Integrated • Authority.
Governance for Financial Conglomerates. • Work mechanism.
• OJK Circular Letter No. 32/SEOJK.04/2015, • Work Ethics.
concerning Guidelines for Public Company • Working Hours.
Governance. • Committee Meetings.
• BCA’s Articles of Association. • Organizing Meetings.
• Board of Commissioners’ Decree No. 037/ • Meeting Decision Making
SK/KOM/2015 dated February 26, 2015, • Minutes of meetings.
concerning the Establishment of the • Competency.
Integrated Governance Committee of PT
Bank Central Asia Tbk. The IGC Charter has been uploaded to the
• Board of Commissioners Decree No 121/SK/ BCA website in the Corporate Governance
KOM/2023 dated July 17 2023 concerning section (https://www.bca.co.id/en/about-bca/
the Charter of the Integrated Governance tatakelola/Struktur-Organisasi).
Committee – PT Bank Central Asia Tbk.
• Board of Directors Decree 0169/SK/ 3. Structure and Membership of IGC
DIR/2024 dated October 14, 2024 The composition of the BCA IGC membership
concerning the Change of Members of the complied with the applicable provisions of the
Integrated Governance Committee. OJK Regulation and IGC Charter. As of December
31, 2024, the IGC has 10 (ten) members who
2. IGC Charter have been appointed by the Board of Directors
The IGC has work guidelines stipulated in the from the Main Entity through Board of Directors’
Integrated Governance Committee Charter, Decree No. 0093/SK/DIR/2024 concerning the
which has been ratified based on the Board of Appointment of the Chairman and Members of the
Commissioners’ Decree No. 121/SK/KOM/2023 Integrated Governance Committee based on the
dated July 17, 2023, regarding the Integrated decision in the Minutes of Meeting of the Board of
Governance Committee Charter - PT Bank Commissioners from the Main Entity No. 027/RR/
Central Asia Tbk. KOM/2024 dated June 19, 2024. As of 1 September
2024, the IGC has 9 (nine) members who have been
The scope regulated in the IGC Charter includes appointed by the Board of Directors from the Main
the following: Entity through Board of Directors’ Decree No. 0169/
• Structure and Membership. SK/DIR/2024 dated October 14, 2024 based on the
• Membership Requirements. decision in the Minutes of Meeting of the Board of
• Term of Office. Commissioners from the Main Entity No. 039/RR/
• Concurrent Position. KOM/2024 dated September 18, 2024
Composition of the IGC Members
Position in the Position in the Financial
Name Term of Office
Committee*) Conglomeration
Member from the Main Entity
Cyrillus Harinowo Chairman Main Entity’s Independent May 6, 2021 – 2026 AGMS
(concurrently member) Commissioner
Prabowo Member Main Entity’s Independent Party**) May 6, 2021 – 2026 AGMS
Member from the Subsidiary ***)
Sulistiyowati Member Independent Commissioner May 6, 2021 – 2026 AGMS
PT BCA Finance
Gustiono Kustianto Member Independent Commissioner May 6, 2021 – 2026 AGMS
PT Asuransi Umum BCA
Pudjianto Member Independent Commissioner May 6, 2021 – 2026 AGMS
PT Asuransi Umum BCA
Mathilda Simon Member Independent Commissioner September 14, 2023 –
PT BCA Multi Finance September 1, 2024
Ratna Yanti Member Independent President March 10, 2023 – 2026
Commissioner PT Bank BCA Syariah AGMS
Sutedjo Prihatono*) Member Member of the Sharia Supervisory May 6, 2021 – 2026 AGMS
Board of PT Bank BCA Syariah
Hendra Iskandar Lubis Member Independent Commissioner May 6, 2021 – 2026 AGMS
PT BCA Sekuritas
2024 Annual Report PT Bank Central Asia Tbk 389
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Position in the Position in the Financial
Name Term of Office
Committee*) Conglomeration
Janto Havianto Member Independent Director BCA Finance June 20, 2024 – 2026
Limited, Hongkong AGMS
Ina Suwandi Member Independent Commissioner September 14, 2023 – 2026
PT Bank Digital BCA AGMS
Note:
*)
Membership of Independent Commissioners, Independent Parties, and Members of the Sharia Supervisory Board in the IGC of the Financial Conglomerate
is not counted as concurrent positions.
**)
Members of the IGC who are independent parties are appointed by the Main Entity’s Board of Commissioners.
***)
Appointment of IGC members who are Independent Commissioners and/or Members of the Sharia Supervisory Board who represent FSI in the BCA’s
Financial Conglomerate is based on the appointment of each FSI
Number and Composition of Independent Pudjianto
Commissioners Member
The number and composition of Independent The educational background, certification,
Commissioners who are members of the IGC expertise, position, and work experience of
are adjusted to the needs of the Financial the IGC Members can be found in the Company
Conglomerate, the efficiency and effectiveness Profile section on page 87 of this 2024 BCA
of the IGC duties implementation, and with due Annual Report.
regard to at least the representation of each
financial services sector. Mathilda Simon
Member
4. Profile and Qualifications of IGC Members The educational background, certification,
expertise, position, and work experience of
Cyrillus Harinowo the IGC Members can be found in the Company
Chairman (concurrently member) Profile section on page 87 of this 2024 BCA
The educational background, certification, Annual Report.
expertise, position, and work experience of
the IGC Members can be found in the Company Ratna Yanti
Profile section on page 76 of this 2024 BCA Member
Annual Report. The educational background, certification,
expertise, position, and work experience of
Prabowo the IGC Members can be found in the Company
Member Profile section on page 88 of this 2024 BCA
The educational background, certification, Annual Report.
expertise, position, and work experience of
the IGC Members can be found in the Company Sutedjo Prihatono
Profile section on page 85 of this 2024 BCA Member
Annual Report. The educational background, certification,
expertise, position, and work experience of
Sulistiyowati the IGC Members can be found in the Company
Member Profile section on page 88 of this 2024 BCA
The educational background, certification, Annual Report.
expertise, position, and work experience of
the IGC Members can be found in the Company Hendra Iskandar Lubis
Profile section on page 86 of this 2024 BCA Member
Annual Report. The educational background, certification,
expertise, position, and work experience of
Gustiono Kustianto the IGC Members can be found in the Company
Member Profile section on page 89 of this 2024 BCA
The educational background, certification, Annual Report.
expertise, position, and work experience of
the IGC Members can be found in the Company Janto Havianto
Profile section on page 86 of this 2024 BCA Member
Annual Report. The educational background, certification,
expertise, position, and work experience of
the IGC Members can be found in the Company
Profile section on page 89 of this 2024 BCA
Annual Report.
390 PT Bank Central Asia Tbk 2024 Annual Report
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Ina Suwandi
Member
The educational background, certification, expertise, position, and work experience of the IGC Members can be
found in the Company Profile section on page 90 of this 2024 BCA Annual Report.
5. Education or Training
Throughout 2024, members of the IGC have carried out several education or training, as follows:
Name Education/Training Organizer Date
Cyrillus It can be found in the Board of Commissioners - Training Program to Improve the Competence of
Harinowo Members of the Board of Commissioners section on page 321 of this 2024 BCA Annual Report.
Prabowo Investment Management Strategy for the Insurance OJK Institute February 1, 2024
Industry and Pension Funds
Economic and Financial Outlook in 2024 OJK Institute February 22, 2024
Artificial Intelligence Changes The Face of The OJK Institute March 7, 2024
Financial Sector
Opportunities and Challenges of Open Finance in OJK Institute April 25, 2024
Indonesia
Credit Growth Opportunities After the End of the OJK Institute May 22, 2024
Credit Restructuring Policy
Opportunities and Challenges for Personal Data OJK Institute May 30, 2024
Protection in Transactions in the Digital Era
ESG Training (Capacity Building) Introduction and BCA November 7, 2024
Implementation Plan of IFRS S1 & S2 in Indonesian
Banks
Indonesia Knowledge Forum (IKF): Linear to Limitless: BCA November 12-13,
Advancing Business Exponential Growth 2024
Sulistiyowati Opportunities and Challenges for Personal Data OJK Institute May 30, 2024
Protection in Transactions in the Digital Era
National Seminar on Financing Challenges Amidst Association of June 4, 2024
Geopolitical and Economic Changes Indonesian Financing
Companies (PAPI)
ESG Training (Capacity Building) Introduction and BCA November 7, 2024
Implementation Plan of IFRS S1 & S2 in Indonesian
Banks
Indonesia Knowledge Forum (IKF): Linear to Limitless: BCA November 12-13,
Advancing Business Exponential Growth 2024
Risk and Governance Summit (RGS) of 2024 OJK Institute November 26,
"Strengthening The GRC Ecosystem in The Financial 2024
Sector Support The Golden Indonesia 2045 Vision"
Gustiono Mandiri Investment Forum Bank Mandiri March 5, 2024
Kustianto
Recognizing Emerging Risks and Opportunities in GRC Management April 3, 2024
Portfolio Diversification
GRC Masterclass and Summit GRC August 22-23,
2024
The Future of Data Analytics in the Financial Industry: OJK Institute September 12,
Trends and Innovations 2024
Pudjianto Digital and Risk Management in Insurance 2024 DRIM Indonesian Life May 15-17, 2024
AAJI 2024 "Insuring Tomorrow: Navigating the Digital Insurance Association
Frontier in Life Insurance" (AAJI)
The Forum Indonesia Professional Insurance Forum Association of July 10-12, 2024
"Challenges and Embrace Emerging Opportunity in Indonesian Insurance
Insurance" Management Experts
(AAMAI)
ESG Training (Capacity Building) Introduction and BCA November 7, 2024
Implementation Plan of IFRS S1 & S2 in Indonesian
Banks
Mathilda Banking Risk Management Recertification Briefing Maisa Edukasi March 18-19, 2024
Simon Qualification Level 6
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Name Education/Training Organizer Date
Implementation of Effective Risk Management Association of June 7, 2024
in the Decision-Making Process at Middle-Level Indonesian Insurance
Management or Managerial Level in Insurance Management Experts
Companies (AAMAI)
Application of Very Complex Insurance Company Association of June 8, 2024
Risk Analysis to Improve Company Performance Indonesian Insurance
(Main) Management Experts
(AAMAI)
Banking Digitalization Risks IBI - Banking June 12, 2024
Competency Centre
International Seminar: The Fed's Interest and Association of August 6, 2024
Enhancing Market Share through Technologies Indonesian Financing
Transformation Companies
Ratna Yanti Webinar on Handling Banking Crime with the FKDKP February 29, 2024
Implementation of the P2SK & OJK Regulation Law 16
of 2023
PAU PPT Sharing Session and Discussion of PAU PPT BCA Syariah May 7, 2024
Implementation Report
Sharing Session Refreshment DSN-MUI Fatwa 142 of BCA Syariah May 28, 2024
2021
Sharing Session Regulatory Provisions OJK BCA Syariah June 11, 2024
Regulation Number 5 of 2024, PLPS Number 1 of
2021, OJK Regulation Number 2 of 2024
Risk Management Refreshment Qualification Level 6 Mualamat Foundation June 28, 2024
Institute
Banking Risk Management Recertification Briefing Mualamat Foundation July 12, 2024
Qualification Level 6 Institute
Webinar ESG Banking Aspects to Promote the Banking Compliance September 27,
Achievement of Sustainable Development Goals Director 2024
(SDG's) Communication Forum
(FKDKP)
Presentation of the ASEAN Corporate Governance BCA Syariah October 14, 2024
Scorecard (ACGS)
Sustainable Finance Capacity Building Program BCA Syariah November 8, 2024
Towards Zero Emission
National Work Meeting BCASyariah 2025 'Great BCA Syariah November 26,
Leader, Great Team, Great Result' 2024
Risk and Governance Summit (RGS) of 2024 OJK Institute November 28,
"Strengthening the GRC Ecosystem in The Financial 2024
Sector Support the Golden Indonesia 2045 Vision"
Sutedjo Risk Management Training and Certification Program Karim Konsulting March 15, 2024
Prihatono
ESG Training (Capacity Building) Introduction and BCA November 7, 2024
Implementation Plan of IFRS S1 & S2 in Indonesian
Banks
Hendra Advanced Education and Training for Directors and Asosiasi Perusahaan July 30, 2024
Iskandar Lubis Commissioners of Securities Companies with the Efek Indonesia (PAEI)
theme of Risk Management.
Janto Havianto The Future of Data Analytics In The Financial Industry: OJK Institute September 12,
Trends and Innovations 2024
ESG Training (Capacity Building) Introduction and BCA November 7, 2024
Implementation Plan of IFRS S1 & S2 in Indonesian Banks
Banking Risk Management & Training Qualification Maisa Edukasi November 18,
Level 6 2024
LSP LSPP Communication Forum (Forum for Risk LSP LSPP November 19,
Management & Treasury Assessors) 2024
Risk and Governance Summit (RGS) of 2024 OJK Institute November 26,
"Strengthening The GRC Ecosystem in The Financial 2024
Sector Support The Golden Indonesia 2045 Vision"
Risk Management Refreshment Seminar BARa December 12,
2024
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Name Education/Training Organizer Date
Ina Suwandi Artificial Intelligence Changes The Face of The OJK Institute March 7, 2024
Financial Sector
Opportunities and challenges for Digital Assets in OJK Institute March 14, 2024
Indonesia
The role of the Taxonomy for Sustainable Finance OJK Institute March 28, 2024
(TKBI) in encouraging the Energy Transition towards
Zero Emission Indonesia
Preparation Program for Banking Risk Management PT Arfaidhams Secret June 22, 2024
Update Qualification Level 6
Scary Life: Face Your Fear Tanadi Santoso October 31, 2024
ESG Training (Capacity Building) Introduction and BCA November 7, 2024
Implementation Plan of IFRS S1 & S2 in Indonesian
Banks
Risk and Governance Summit (RGS) of 2024 OJK Institute November 26,
"Strengthening the GRC Ecosystem in The Financial 2024
Sector Support the Golden Indonesia 2045 Vision"
6. Term of Office 7. IGC Membership Requirements
The terms of office of the Chairman and members The IGC membership requirements are as follows:
of the IGC are as follows:
1. The term of office Chairman of IGC will General requirements
end at the end of the term of office of IGC Members must have good integrity,
the Main Entity’s Board of Commissioners character, and morals and fulfill the requirements
as stipulated in the BCA’s Articles of as Independent Commissioners at the Main
Association. May be reappointed if the Entity and each Financial Services Institution in
person concerned is reappointed as an accordance with the regulatory provisions of
Independent Commissioner. each financial services sector.
2. The term of office of members of the IGC
from Main Entity’s Independent Parties will Independence Requirements
end when the term of office of the Main a. Members of the Board of Directors are
Entity’s Board of Commissioners ends, and it prohibited from becoming members of the
can be reappointed. IGC.
3. The terms of office of members of the b. Independent parties who are members of
Financial Services Institution Representative the IGC are parties outside the Main Entity
Committee (Independent Commissioner of who do not have financial, management,
Financial Services Institutions) will end at the ownership, and/or familial relationships
end of the term of office of the Main Entity’s with members of the Board of Directors,
Board of Commissioners or when their term Board of Commissioners, and/or controlling
of office as Independent Commissioner shareholders, or relationships with BCA, that
of a Financial Services Institution ends may affect their ability to act independently.
(whichever comes first).
4. In the event that the term of office of the 8. Independence of IGC Members
members of the IGC ends because the term Members of the IGC must adhere to the
of office of the members of the Main Entity’s independence and requirements of the Board
Board of Commissioners ends, the Main of Directors and/or the Board of Commissioners
Entity is obliged to appoint the Chairman from the Main Entity as well as the independence
and members of the IGC within a period of and requirements of the Board of Directors and/
3 (three) months from the appointment of or the Board of Commissioners of Subsidiaries in
members of the Board of Commissioners or the Financial Conglomerate.
since they have passed the fit and proper
test by the related regulator. All members of the IGC are independent parties
who do not have financial, management, share
The terms of office of the current members of the ownership, and/or familial relationships with
IGC will end at the closing of the 2026 AGMS. members of the Board of Commissioners,
members of the Board of Directors, and/
or Controlling Shareholders, or business
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relationships with BCA and/or Subsidiaries that may affect their ability to act independently. All IGC members
also carry out their duties independently without any intervention from any party.
Aspects of the independence of IGC members are explained in the following table:
Cyrillus Gustiono Mathilda Ratna
Independence Aspect Prabowo Sulistiyowati Pudjianto
Harinowo Kustianto Simon*) Yanti
Has no financial √ √ √ √ √ √ √
relationship with the
Board of Commissioners
and Board of Directors.
Has no management √ √ √ √ √ √ √
relationship at the
company, subsidiaries or
affiliated companies.
Has no share ownership √ √ √ √ √ √ √
relationship at the
company.
Has no familial √ √ √ √ √ √ √
relationship with the
Board of Commissioners,
Board of Directors, and/
or fellow members of the
Integrated Governance
Committee
Not serving as √ √ √ √ √ √ √
administrators of political
parties, officials, and
government
Note:
*) In office since September 14, 2023 until August 31, 2024, as the merger of PT BCA Multi Finance took effect on September 1, 2024.
Sutedjo Hendra Iskandar Janto Ina
Independence Aspect
Prihatono Lubis Havianto Suwandi
Has no financial relationship with the √ √ √ √
Board of Commissioners and Board of
Directors.
Has no management relationship at the √ √ √ √
company, subsidiaries or
affiliated companies.
Has no share ownership relationship at √ √ √ √
the company.
Has no familial relationship with the √ √ √ √
Board of Commissioners, Board of
Directors, and/or fellow members of the
Integrated Governance Committee
Not serving as administrators of political √ √ √ √
parties, officials, and government
9. Duties and Responsibilities of IGC
The IGC has duties and responsibilities, including:
a. Evaluate the implementation of Integrated Governance, at least through assessing the adequacy of internal
control and the implementation of integrated compliance function and integrated risk management.
b. Provide recommendations to the Main Entity’s Board of Commissioners for improvements to the Integrated
Governance Guidelines.
c. Provide recommendations to the Main Entity’s Board of Commissioners after conducting at least:
1) Evaluation of integrated governance implementation; and
2) Monitor the implementation of the Integrated Governance Guidelines.
d. Make a report on the realization of the annual work program, which is submitted in the Main Entity’s Annual
Report.
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10. Authorities of IGC
In carrying out its supervisory duties, the IGC has the following authority:
a. Request information from work units in the form of evaluation results on the implementation of:
1) Integrated Internal Audit Function;
2) Integrated Compliance Function; and
3) Integrated Risk Management Function.
b. Carry out other activities in accordance with the Integrated Governance Guidelines delegated to the IGC by
the Board of Commissioners.
11. IGC Member Concurrent Position
In accordance with OJK Regulation on the Implementation of Integrated Governance, membership of Independent
Commissioners, independent parties, and members of the Sharia Supervisory Board on the Integrated Governance
Committee in Financial Conglomerates is not counted as concurrent positions. Thus, the implementation of the
concurrent position of BCA IGC is in accordance with applicable regulations.
Other Positions (member of the Board of
Name of Committee Commissioners, member of the Board of Directors, and/
Position in the Committee
Member or member of Committees, and Other Positions)
Cyrillus Harinowo Chairman Can be found on page 324
Prabowo Member -
Sulistiyowati Member -
Gustiono Kustianto Member -
Pudjianto Member -
Mathilda Simon Member -
Ratna Yanti Member -
Sutedjo Prihatono Member -
Hendra Iskandar Lubis Member • Member of the Planning and Risk Monitoring
Committee of Perum Perumnas
• Member of the Audit Committee of PT Hasnur
International Shipping Tbk
• President Director of PT Central Sudirman
Development
Janto Havianto Member -
Ina Suwandi Member -
Note:
*) In office since September 14, 2023 until August 31, 2024, as the merger of PT BCA Multi Finance took effect on September 1, 2024.
12. Policies and Implementation of IGC Meetings The decision-making process of the IGC Meeting
The provisions for holding the IGC meeting are as is as follows:
follows: a. The decision of the IGC Meeting is made
a. The IGC holds meetings as needed, at least based on deliberation to reach a consensus.
once every semester or 2 (two) times a year. b. In the event that deliberation for consensus
b. The IGC meeting can only be held if it is does not occur, the decision is made based
attended by at least 51% (fifty one percent) on the majority vote with the principle of 1
of the total committee members, including 1 (one) person, 1 (one) vote.
(one) Independent Commissioner. c. All decisions of the IGC Meeting are binding
c. The IGC Meeting can be held: for all members of the IGC.
1) In person at the BCA domicile or at
another place determined by the The minutes of the IGC Meeting are as follows:
Chairman of the IGC; or a. The results of the IGC meeting must be
2) Electronically through teleconferences, recorded in the minutes of the meeting,
video conferences, or similar which are signed by all members of the
electronic media facilities that allow IGC present and properly documented in
all participants in the IGC meeting to accordance with laws and regulations.
see and hear each other directly and
participate in the IGC meeting.
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b. Dissenting opinion that occurs in a committee meeting must be clearly stated in the minutes of the meeting
along with the reasons for the dissent.
c. The results of the IGC meetings constitute recommendations that can be optimally utilized by the Main
Entity’s Board of Commissioners and Board of Directors and Financial Services Institutions members of the
Financial Conglomerate.
d. Throughout 2024, the IGC has held 6 (six) meetings.
Data on the attendance of Committee members in the IGC Meeting throughout 2024 is as follows:
Name Number of Meetings Attendance Percentage
Cyrillus Harinowo 6 6 100%
Prabowo 6 6 100%
Sulistiyowati 6 6 100%
Gustiono Kustianto 6 6 100%
Pudjianto 6 5 83.33%
Mathilda Simon *)
4 4 100%
Ratna Yanti 6 6 100%
Sutedjo Prihatono 6 6 100%
Hendra Iskandar Lubis 6 5 83.33%
Janto Havianto **) 3 3 100%
Ina Suwandi 6 6 100%
Note:
*) In office since September 14, 2023 until August 31, 2024, as the merger of PT BCA Multi Finance took effect on September 1, 2024.
**) Serving since June 20, 2024, until the closing of the 2026 AGMS
The agenda for the implementation of the IGC meetings throughout 2024 is as follows:
No. Date Agenda
1 January 10, 2024 Implementation of Governance for Commercial Banks at PT BCA Syariah Bank and
PT BCA Digital Bank In accordance with OJK Regulation No.17 of 2023 concerning
Implementation of Governance for Commercial Banks
2 March 20, 2024 Reporting of the Integrated Governance Committee Semester II/2023 to the Board of
Commissioners of the Main Entity
3 May 15, 2024 Implementation of Good Corporate Governance (GCG) at PT BCA Finance and PT BCA
Multifinance
4 July 10, 2024 Fraud Trends and Mitigation Efforts at PT Bank Central Asia Tbk
5 September 18, 2024 The First Semester of 2024 Integrated Governance Committee Reporting to the Board
of Commissioners of the Main Entity
6 November 20, 2024 Implementation of Business Continuity Program (BCP) at PT Asuransi Umum BCA and PT
Asuransi Jiwa BCA
13. Realization of the Work Program and Implementation of IGC Activities in 2024
Throughout 2024, the IGC has carried out IGC work activities/programs, namely evaluating the adequacy of
implementation of Integrated Governance at the BCA Financial Conglomerate. These evaluation activities are
carried out, namely through the presentation and discussion on the Integrated Internal Audit Results Report and
the Integrated Compliance Report.
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EXECUTIVE COMMITTEES OF THE The scopes stipulated in the Decree concerning
BOARD OF DIRECTORS ALCO’s Structure are as follows:
• Organization scope
I. ASSET LIABILITY COMMITTEE - Mission, Main Function, Position and
Asset Liability Committee (ALCO) is a committee Authority.
under the Board of Directors whose mission is to - Position and Composition of Committee.
optimally achieve BCA’s profitability levels, as well as • Completeness of Committee
ensuring liquidity risk, interest rate risk, and controlled - Committee Personnel.
foreign exchange risk through the establishment of - Main Duties.
BCA’s policies and strategies for assets and liabilities - ALCO’s Working Group.
management. - Decision Making and Accountability.
Guidelines of ALCO 1. Structure, Membership of ALCO, and Voting
BCA has guidelines that support the implementation Rights Status
of ALCO’s duties and responsibilities, which are listed Based on the Board of Directors Decree No.
in the Board of Directors Decree No. 144/SK/DIR/2022 144/SK/DIR/2022 concerning the Asset Liability
dated September 22, 2022 concerning the Asset Committee (ALCO) Structure, the structure,
Liability Committee (ALCO) Structure and the Board of membership and voting rights status of ALCO are
Commissioner Decree No. 138/SK/KOM/2022 dated as follows:
August 15, 2022 concerning the division of duties and
responsibilities of the Board of Directors and the Main
Framework of PT Bank Central Asia Tbk Organization.
Position in the Committeee Served By Voting Right Status
Chairman (concurrently President Director
member)
Member • Deputy President Director I – IT & Digital Banking
• Deputy President Director II – Business Banking & Operation
• Risk Management Director
• Corporate Banking & Treasury Director
• Commercial & SME Banking Director
• Branch & Network Director
• Credit Risk & Legal Director
• Transaction Banking Director
• Finance & Corporate Planning Director
• Consumer Banking Director
• Executive Vice President (EVP) in charge of Treasury and
International Banking
• Executive Vice President (EVP) in charge of Corporate Banking & Reserve voting right
Transaction
• Executive Vice President (EVP) CFO Office
• Head of International Banking (DPI)
• Head of Treasury (DTR)
• Head of Finance & Accounting (DKP)
• Head of Corporate Strategy & Planning (DCSP)
• Head of Corporate Banking, Transaction & Finance (GBKF)
• Head of Commercial & SME Banking (DCE)
• Head of Transaction Banking Product Development (DPD)
• Head of Transaction Banking Business Development (DTB)
• Head of Transaction Banking Partnership Solution Development
(DST)
• Head of Consumer Finance (DBK)
• Head of Risk Management (MRK)
Secretary Senior Adviser Risk Management (MRK) in charge of Asset Liability No voting right
Management (ALM)
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2. Main Functions, Authorities, Duties, and Duties and Responsibilities of ALCO
Responsibilities of ALCO ALCO members who have voting rights, have the
following main duties:
Main Functions of ALCO a. To provide opinions to the ALCO secretary
ALCO has the following functions: for the preparation of meeting agenda and
a. To establish and evaluate liquidity materials.
management policies and strategies to b. To provide inputs in the form of information
maintain liquidity in accordance with the and analysis in the ALCO meeting, regarding:
applicable provisions, meet BCA’s liquidity • Methodologies for determining price of
requirement, including unexpected fund funds and loans products.
requirements, and to minimize idle funds. • Methodologies for measuring liquidity
b. To establish and evaluate policies and risk, interest rate risk and foreign
strategies related to market risks, such as exchange risk.
interest rate risk and foreign exchange risk. • Determination of pricing of funds and
c. To establish and evaluate pricing policies loan products.
and strategies for fund products, loans and • Competitiveness of interest rates for
inter-office accounts. funds and loan products.
d. To establish and evaluate policies and • Competitor bank strategy.
strategies in structuring investment • Constraints on the application of
portfolios. ALCO’s decision results.
e. To establish and evaluate policies and • Customer behavior and its changes.
strategies for arranging balance sheet
structure by anticipating changes in interest 3. Meeting of ALCO
rates to achieve an optimal net interest The provisions of ALCO meetings are as follows:
margin. - ALCO meetings are held as necessary and at
least once every month.
Authorities of ALCO - ALCO meetings are valid if attended by at
ALCO has the authority to take strategic decisions least ½ (one-half) of the total members of
in the management of the BCA’s assets and ALCO plus 1 (one) member, including the
liabilities, provided that it does not exceed the chairman or substitute, or attended by 6
authority of the Board of Directors. The authority (six) Directors, including the chairman or
of ALCO are as follows: substitute.
a. To establish interest rates on time deposits,
savings, and current accounts. 4. Decision Making
b. To establish lending rates. The decision-making provisions are as follows:
c. To establish funding and investment - Decision making in relation to the exercise of
strategies. ALCO’s authority will only be taken through
d. To establish hedging strategy when legitimate ALCO meeting decisions.
necessary. - ALCO meeting decisions are valid and
e. To establish limits relating to liquidity risk, binding if approved by ½ (one-half) of the
interest rate risk, and foreign exchange risk total members with voting rights present
according to the overall risk-taking policy. plus 1 (one) vote.
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5. Frequency of ALCO Meetings in 2024
As of December 31, 2024, ALCO held 21 (twenty one) meetings with details of the attendance of ALCO members
as follows:
Number of
Position Attendance Percentage
Meetings
President Director (Jahja Setiaatmadja) 1) 21 21 100%
Deputy President Director I – IT & Digital Banking 21 18 86%
(Gregory Hendra Lembong)
Deputy President Director II – Business Banking & Operation 21 17 81%
(Armand W. Hartono)
Risk Management Director (Antonius Widodo Mulyono) 21 21 100%
Corporate Banking & Treasury Director (Rudy Susanto) 21 20 95%
Commercial & SME Banking Director (John Kosasih) 21 13 62%
Branch & Network Director (Frengky Chandra Kusuma) 21 19 90%
Credit Risk & Legal Director (Subur Tan) 21 18 86%
Transaction Banking Director (Santoso) 21 17 81%
Finance & Corporate Planning Director (Vera Eve Lim) 21 20 95%
Consumer Banking Director (Haryanto T. Budiman) 21 20 95%
Executive Vice President (EVP) in charge of Treasury and 21 15 71%
International Banking
Executive Vice President (EVP) in charge of Corporate Banking 21 15 71%
& Transaction
Executive Vice President (EVP) CFO Office 21 15 71%
Member
Head of Division or official representative:
Head of International Banking (DPI) 21 21 100%
Head of Treasury (DTR) 21 21 100%
Head of Finance & Accounting (DKP) 21 21 100%
Head of Corporate Strategy & Planning (DCSP) 21 21 100%
Head of Corporate Banking, Transaction & Finance (GBKF) 21 21 100%
Head of Commercial & SME Banking (DCE) 21 21 100%
Head of Transaction Banking Product Development (DPD) 21 19 90%
Head of Transaction Banking Business Development (DTB) 21 21 100%
Head of Transaction Banking Partnership Solution Development 21 20 95%
(DST)
Head of Consumer Finance (DBK) 21 21 100%
Head of Risk Management (MRK) 21 21 100%
Note:
1) Chairman of ALCO
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The details of the implementation of ALCO meetings throughout 2024 are as follows:
No. Date Agenda
1 January 12, 2024 At ALCO meetings, among other things, the following are discussed:
a. Follow-up report on previous ALCO Meeting Decisions.
2 January 29, 2024
b. Economic parameters include inflation, Bank Indonesia Term Deposit interest
3 February 12, 2024 rates, Rupiah and USD yield curves, Rupiah and USD market liquidity, and the
Rupiah exchange rate.
4 February 26, 2024
c. Liquidity reserves consisting of Primary and Secondary Rupiah and Foreign
5 March 15, 2024 Currency Reserve, Rupiah and Foreign Currency Fund Structure, Credit
Projections, Liquidity Projections.
6 March 27, 2024 d. Banking Book Interest Rate Risk based on Earnings Perspective (NII Method) and
7 April 19, 2024 Economic Value Perspective (EVE Method).
e. Development of Interest Rate Risk in Trading Book and Forex.
8 April 30, 2024 f. Yield and Cost of Fund Rupiah and Foreign Currency.
9 May 27, 2024 g. Assets Liabilities Management Analysis.
h. Stress Test for Liquidity Risk and Stress Test for Exchange Rate Risk and Trading
10 June 12, 2024 Book Interest Rates.
11 June 21, 2024 i. Development of Bank Funds towards Total Banking.
j. Proposed Interest Rates for Funds, Credit and Credit Base Interest Rates (SBDK).
12 July 15, 2024 k. Profit/loss projection.
13 July 26, 2024
14 August 13, 2024
15 August 26, 2024
16 September 12, 2024
17 September 30, 2024
18 October 25, 2024
19 November 11, 2024
20 November 26, 2024
21 December 20, 2024
6. Accountability Reporting c. Review the results of the simulation of the
Accountability and realization of the ALCO’s profit/loss in accordance with ALM strategy
work are reported through: of BCA.
a. Minutes of regular meetings. d. Establish policy and strategy in the
b. Minutes of special meetings held to discuss arrangement of balance sheet structure and
specific issues. investment portfolio.
c. Data and information related to the areas
covered. 8. Work Plan of ALCO in 2025
d. Notes and ALCO’s opinion regarding the ALCO has established work plans for 2025 as
minutes of meetings and relevant data and follows:
information. a. Establish and evaluate policies and strategies
for the management of BCA’s assets and
7. Realization of Work Program in 2024 liabilities to ensure liquidity, interest rate and
Throughout 2024, ALCO has realized the exchange rate risks are controlled.
following work programs: b. Establish and evaluate pricing policies and
a. Evaluate the strategy and the position of strategies for fund and loan products, as well
BCA’s assets and liabilities in accordance as inter-office accounts.
with the objective of liquidity risk c. Establish and evaluate policies and strategies
management, interest rate, and exchange in structuring investment portfolios.
rate. d. Establish and evaluate policies and strategies
b. Evaluate and establish the changes in funds for arranging balance sheet structure by
and loans interest rates, credit base interest anticipating changes in interest rates to
rate, and the limit related to Asset Liability achieve an optimal net interest margin.
Management (ALM).
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II. RISK MANAGEMENT COMMITTEE
Risk Management Committee (RMC) was established to ensure that the risk management framework offers adequate
protection against all BCA risks.
RMC Guidelines
In order to execute its duties and responsibilities, RMC is guided by:
- OJK Regulation No. 18/POJK/03/2016, dated March 16, 2016, concerning the implementation of risk management
for commercial banks, and
- The Board of Directors Decree No. 022/SK/DIR/2023, dated February 8, 2023, regarding the structure and charter
of the Risk Management Committee.
The scope stipulated in the RMC Structure and Charter includes:
- Mission, Main Functions, Position, and Authority
- Risk Management Committee Organizational Chart and Structure
- Main Duties and Authorities
- Decision Making, Accountability, and Reporting
1. Structure, Membership, and Voting Rights Status
The structure, membership and status of voting rights in the RMC are as follows:
Position in the Committee Served By Voting Right Status
Chairman (concurrently Director in charge of the risk management function. Reserve voting right
permanent member)
Permanent member1) • All members of the Board of Directors
• Executive Vice President of the Credit Risk Analysis Group
• Head of Compliance Division
• Head of Internal Audit Division3)
Non-Permanent • Executive Vice President with the exception of Executive
Members2) Vice President of the Credit Risk Analysis Group
• All Heads of Divisions/Work Units/Groups, Except the
Permanent Members
Secretary (concurrently Head of Risk Management Division
permanent member)
Note:
1) If there is a concurrent position, the person concerned only has 1 (one) vote
2) Attendance according to the topic discussed
3) No voting rights
2. Main Functions, Authorities, Duties, and RMC’s Duties and Responsibilities
Responsibilities of RMC The following are the primary responsibilities of
RMC members:
RMC’s Primary Functions a. Provide inputs to the RMC secretary in the
The following are the primary functions of RMC: form of topics to be discussed at the RMC
a. Create policies, strategies, and guidelines meeting, as well as meeting materials.
for risk management implementation. b. Provide inputs in the form of information
b. Improving risk management implementation and analysis related to the topics discussed
based on the findings of evaluating at the RMC meeting. Topics that can be
the implementation of effective risk discussed at the RMC meeting include:
management processes and systems. • BCA’s direction and goals in developing
c. Determine issues relating to business policies, strategies, and guidelines for
decisions that deviate from standard risk management implementation, as
procedures (irregularities). well as making changes as needed.
• Evaluation of the effectiveness of
RMC Authority the risk management framework’s
RMC has the authority to review and make implementation.
recommendations on risk management issues for • Trends and developments in BCA’s
the Board of Directors’ approval. total risk exposure, as well as
recommendations for an acceptable
level of overall risk tolerance (risk
appetite).
2024 Annual Report PT Bank Central Asia Tbk 401
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• The findings of studies on the total risk 3. Meeting of RMC
exposure faced by BCA and its impact. Some of the provisions concerning RMC meetings
• Assessment of BCA’s capital adequacy are as follows:
in the face of potential losses using a. RMC meetings are held on an as-needed
various stress test scenarios. basis, at least once every 3 (three) months or
• A proposal for the development of risk 4 (four) times a year.
measurement methods, contingency b. The RMC meeting is valid if at least more
plans under abnormal conditions (worst than ½ (one-half) of the permanent members
case scenario), and other methods attend
related to BCA’s risk management. c. Non-physical meetings are held via
• Issues requiring justification in teleconference, video conference, or other
connection with business decisions electronic media that allows all RMC meeting
that deviate from standard procedures participants to see and/or hear each other
(irregularities). directly and participate in the meeting.
• Limits on authority, exposure, and credit
portfolio concentration, as well as other 4. Decision Making
risk-reducing parameters. The following provisions apply to decision
making:
a. Decisions regarding the use of the RMC’s
authority can only be made through a valid
RMC meeting decision.
b. The RMC meeting’s decisions are valid
and binding if approved by more than ½
(one-half) of the total permanent members
present and reserve voting right.
5. Frequency of RMC Meetings in 2024
As of December 31, 2024, the RMC has held 4 (four) meetings, with details of the attendance of RMC members as
follows:
Number of
Position Attendance Percentage
Meeting
President Director (Jahja Setiaatmadja) 4 3 100%
Deputy President Director (Gregory Hendra Lembong) 4 2 50%
Deputy President Director (Armand W. Hartono) 4 3 75%
Director of Credit and Legal (Subur Tan) 4 4 100%
Director of Commercial Banking & SME (John Kosasih) 4 4 100%
Director of Regional & Branch Network (Frengky Chandra Kusuma) 4 4 100%
Director of Corporate Banking & Treasury (Rudy Susanto) 4 2 50%
Director of Compliance and Human Resources (Lianawaty Suwono) 4 4 100%
Director of Banking Transactions (Santoso) 4 3 100%
Director of Planning and Finance (Vera Eve Lim) 4 3 75%
Director of Consumer Banking (Haryanto T. Budiman) 4 4 100%
Director of Risk Management (Antonius Widodo Mulyono) 4 4 100%
EVP Credit Risk Analysis Group (GARK) 4 4 100%
Head of Compliance Division 4 4 100%
Head of Risk Management Division (Secretary) 4 4 100%
Head of Internal Audit 4 3 75%
EVP, Strategic Information Technology Group1) 2 2 100%
EVP Grup Corporate Banking, Transaction, and Finance1) 1 1 100%
EVP CFO Office 1)
1 1 100%
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Number of
Position Attendance Percentage
Meeting
Head of Enterprise IT Architecture, Data Management & Service 1 1 100%
Quality Group1)
Head of Corporate Strategy & Planning1) 2 2 100%
Head of Legal Group 1)
1 1 100%
Head of Consumer Credit Business Division 1) 1 1 100%
Head of Banking Transaction Cooperation Solution Development 1 1 100%
Division 1)
Note:
1) The number of meetings for non-permanent members is in accordance with the invitation for the related discussion topic.
Details of the RMC meetings throughout 2024 are as follows:
No. Date Agenda
1 February 21, 2024 • Proposed Changes to Limits of Secondary Reserves
• OJK Regulation Draft concerning Transparency and Publication of Credit Interest
Rates (SBDK) for Conventional Commercial Banks
2 June 4, 2024 BCA Risk Appetite Statement Review
3 June 19, 2024 • OJK Regulation No. 5 of 2024 concerning Determination of Supervisory Status
and Handling of Commercial Bank Problems
• 2023 BCA Digital Maturity Assessment Reporting
4 October 23, 2024 BCA's proposed credit interest rate as of October 31, 2024
6. Accountability Reporting 8. Work Plan of RMC in 2025
The accountability and realization of RMC work RMC has developed the following work plan for
are reported through: 2025:
a. Periodic written reports to the Board of a. Reviewing issues pertaining to the topic of
Directors at least once a year regarding the RMC meetings.
results of RMC’s routine meetings. b. Providing information and analysis results
b. Written reports to the Board of Directors on related to topics discussed at RMC meetings
the outcomes of special meetings held to in order to request Board of Directors
discuss specific issues. recommendations.
c. Special reports or activity reports (if c. Other risk management-related issues.
needed).
7. Realization of Work Program in 2024
The realization of the RMC work program in
carrying out its management duties in 2024 is as
follows:
a. Providing information on the changes in
Secondary Reserves limits and mandatory
credit interest rate transparency.
b. Providing Information on the proposed
changes to risk appetite and risk tolerance.
c. Providing Information on the OJK Regulation
regarding the Determination of Supervisory
Status and Handling of Commercial Bank
Problems and the results of BCA's digital
maturity assessment in 2023.
d. Informing the proposed results of the
calculation of the Prime Lending Rate as of
October 31, 2024.
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III. INTEGRATED RISK MANAGEMENT COMMITTEE • Board of Directors Decree No. 023/SK/DIR/2023
The Integrated Risk Management Committee (IRMC) dated February 8, 2023, concerning the Structure
was established to ensure that the risk management and Charter of the Integrated Risk Management
framework provides adequate protection for all risks Committee (IRMC).
faced by BCA and its Subsidiaries in an integrated
manner. The scope stipulated in the Decree of the Board
of Directors No. 023/SK/DIR/2023 concerning
IRMC Guidelines the Structure and Charter of the Integrated Risk
The IRMC performs its duties and responsibilities with Management Committee is as follows:
reference to: • Mission, Main Functions, and Position
• OJK Regulation No. 17/POJK.03/2014 concerning • Organization Chart and Structure
the Implementation of Integrated Risk • Main Duties and Authorities
Management for Financial Conglomerates • Decision Making and Reporting
• OJK Regulation No. 18/POJK.03/2016 concerning
the Implementation of Risk Management for 1. Structure, Membership of IRMC, and Voting
Commercial Banks. Rights Status
• OJK Regulation No. 45/POJK.03/2020 Based on the Board of Directors Decree No. 023/
concerning Financial Conglomerates. SK/DIR/2023 dated February 8, 2023, concerning
the Structure and Charter of the Integrated
Risk Management Committee, the structure,
membership, and status of the voting rights of the
IRMC are as follows:
Position in the Committee Served By Voting Right Status
Chairman (concurrently Director who oversees the integrated risk management Reserve voting right
member) function
Permanent member1) • All members of the Board of Directors
• Head of Compliance Division
• Head of Internal Audit Division3)
Non-Permanent • All Executive Vice Presidents (EVP)
member2) • All Heads of Divisions/Groups/Work Units related to
1. Executive Officer Subsidiaries, excluding Permanent Members
2. Director of Subsidiary*) Director who represents and is appointed from the
Subsidiary
Secretary (concurrently Head of Risk Management Division
as permanent member)
*) The number and composition are adjusted to the needs as well as the efficiency and effectiveness of the implementation of the IRMC tasks by
considering, namely representation of each financial services sector.
1) If there is a concurrent position in IRMC, the person concerned only has 1 (one) vote.
2) According to the topic discussed.
3) No voting rights
2. Main Functions, Authorities, Duties, and IRMC Authority
Responsibilities of IRMC The IRMC has the authority to review and make
recommendations on issues related to integrated
Main Functions of IRMC risk management for the Board of Directors
The IRMC’s main function is to make decision.
recommendations to the Board of Directors,
which at least includes: Duties and Responsibilities of IRMC
• Developing integrated risk management The IRMC’s main duties in carrying out its functions
policies. are as follows:
• Improve or refine the integrated risk • Provide opinion to the IRMC secretary in the
management policy based on the results of form of topics and meeting materials to be
the implementation evaluation. discussed at the IRMC meeting.
• Provide input in the form of information and
analysis related to the topics discussed at
the IRMC meetings.
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Topics that can be discussed at the IRMC meeting - Improvements to integrated risk
include: management implementation made on
- BCA’s direction and goals in formulating a regular or incidental basis as a result of
policies, strategies, and guidelines for changes in internal and external conditions
implementing integrated risk management, affecting capital adequacy, risk profile, and
as well as changes to them if necessary. ineffective implementation of integrated
- Assessment of the effectiveness of the risk management based on evaluation
integrated risk management framework results.
implementation.
- The integrated risk exposure development 3. Meeting of IRMC
and trends, as well as recommending an The provisions of the IRMC meeting are as follows:
overall risk level that can be taken (risk • IRMC meetings are held as needed and at
appetite) and risk tolerance. least once per semester.
- Findings from studies on total integrated risk • The IRMC meeting is valid if it is attended
exposure and its impact. by more than ½ (one-half) of the total
- Assessment of BCA’s integrated capital permanent members.
adequacy in the face of potential losses • Meetings that are attended non-physically
using various stress testing scenarios. are conducted via teleconference, video
- Proposed the development of risk conference, or other electronic media,
measurement methods, contingency which must enable all meeting participants
plans for abnormal conditions (worst to see and/or hear each other directly and
case scenario), and other integrated risk participate in the meeting.
management methods.
- Issues requiring determination (justification) 4. Decision Making
in connection with business decisions Provisions for decision-making by the IRMC are
that deviate from standard procedures as follows:
(irregularities). • Decision making in relation to the use of the
- Limits on authority, exposure, and credit IRMC’s authority is only made through a valid
portfolio concentration, as well as other decision of the IRMC meeting.
risk-management parameters with the aim • The decisions of the IRMC meeting are valid
to limit the risk. and binding if approved by more than ½
(one-half) of the members present.
5. Frequency of IRMC Meetings in 2024
As of December 31, 2024, the IRMC has held 3 (three) meetings with the following details:
Number of
Position Attendance Percentage
Meeting
President Director (Jahja Setiaatmadja) 1) 3 3 100%
Deputy President Director 1 (Gregory Hendra Lembong) 1) 3 3 100%
Deputy President Director II (Armand W. Hartono) 1)
3 2 67%
Credit Risk & Legal Director (Subur Tan) 1)
3 2 67%
Corporate Banking & Treasury Director (Rudy Susanto) 1) 3 2 67%
Compliance & Human Capital Mgmt. Director (Lianawaty 3 3 100%
Suwono) 1)
Banking Transaction Director (Santoso) 1) 3 3 100%
1)
Finance and Corporate Planning Director (Vera Eve Lim) 3 2 67%
1)
Consumer Banking Director (Haryanto T. Budiman) 3 2 67%
Regional and Branch Network Director (Frengky Chandra 3 3 100%
1)
Kusuma)
Commercial & SME Banking Director (John Kosasih) 1) 3 3 100%
Risk Management Director (Antonius Widodo Mulyono) 1)
3 3 100%
Head of Compliance Division 1) 3 3 100%
1)
Head of Risk Management Division (Secretary) 3 3 100%
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Number of
Position Attendance Percentage
Meeting
Head of Internal Audit 1) 1 1 100%
Head of Contact Center & Digital Service 2)
1 1 100%
Head of Corporate Communication & Social Responsibility2) 1 1 100%
Head of Marketing Communication Subdivision 2)
1 1 100%
Director of PT BCA Finance 2)
3 3 100%
Director of PT BCA Multi Finance 2) 3) 1 1 100%
Director of PT Bank BCA Syariah 2) 3 3 100%
Director of BCA Finance Limited 2)
3 3 100%
Director of PT BCA Sekuritas 2) 4) 3 3 100%
Director of PT Asuransi Umum BCA 2)
3 3 100%
Director of PT Asuransi Jiwa BCA 2)
3 3 100%
Director of PT Central Capital Ventura 2) 3 3 100%
Director of PT Bank Digital BCA 2)
3 3 100%
1) Permanent Member.
2) The number of non-permanent member meetings is in accordance with the invitation for the related discussion topic.
3) As of September 1, 2024, PT BCA Multi Finance has merged into PT BCA Finance.
4) Represented by Support Function Director of PT BCA Sekuritas.
The implementation of the IRMC meetings throughout 2024 is as follows:
No. Date Agenda
1 March 8, 2024 BCA Financial Conglomeration (KK) Integrated Risk Profile Report Semester II - 2023
2 September 10, 2024 BCA Financial Conglomeration (KK) Integrated Risk Profile Report Semester I - 2023
3 November 7, 2024 - Reputation Risk
- BCA Digital Integrated Risk Limit
6. Accountability Reporting 8. Work Plan of IRMC in 2025
• The accountability of IRMC work are The IRMC has prepared a work plan for 2025,
reported through: including:
- Periodic written reports at least once a a. Providing Information on the Semester
year to the Board of Directors regarding II – 2024 BCA Financial Conglomerate
the results of IRMC’s routine meeting. Integrated Risk Profile Report.
- Written reports to the Board of b. Providing Information on the Semester
Directors regarding the results of I – 2025 BCA Financial Conglomerate
special meetings held to discuss certain Integrated Risk Profile Report.
matters. c. Other matters related to integrated risk
- Special reports or activity reports (if management.
needed).
7. Realization of the Work Program in 2024
In 2024, the IRMC has realized the following work
programs:
• Providing information on the Semester II
– 2023 BCA Financial Conglomerate (KK)
Integrated Risk Profile Report.
• Providing information on the Semester I
– 2024 BCA Financial Conglomerate (KK)
Integrated Risk Profile Report.
• Informing BCA Digital Integrated Risk Limit
suggestion.
• Informing Reputation Risk.
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IV. CREDIT POLICY COMMITTEE The scopes stipulated in the Structure of the Credit
The Credit Policy Committee (CPC) was established to Policy Committee are as follows:
direct the granting of credit through the formulation • Organizational Scope
of credit policies in order to achieve prudent credit - Mission, Main Function, Position and
targets. Authority
- Position and Composition of Committee.
Guidelines of CPC
The CPC carries out its duties and responsibilities • Completeness of Committee
based on OJK regulation No. 42/POJK.03/2017 dated - Committee Personnel.
July 12, 2017 concerning the requirement to compile - Main Duties.
and implement bank credit or financing policies - Decision Making and Accountability.
for commercial banks and the Board of Directors’
Decree No. 163/SK/DIR/2022 dated October 5, 2022 1. Structure, Membership of CPC, and Voting
concerning Credit Policy Committee (CPC) Structure. Rights Status
Based on the Board of Directors’ Decree No. 163/
SK/DIR/2022 dated October 5, 2022, concerning
Credit Policy Committee (CPC) Structure, the
structure, membership, and voting rights status
of the CPC are as follows:
Position in the Committeee Served By Voting Right Status
Chairman (concurrently President Director Reserve voting right
member)
Member1) • Deputy President Director I – IT & Digital Banking
• Credit Risk & Legal Director
• Risk Management Director
• Compliance & Human Capital Management Director
• Corporate Banking & Treasury Director 2)
• Commercial & SME Banking Director 2)
• Consumer Banking Director 2)
• Transaction Banking Director 2)
• Executive Vice President (EVP) in charge of Credit Risk
Analysis 2)
• Executive Vice President (EVP) in charge of Corporate
Banking & Transaction 2)
• Executive Vice President (EVP) in charge of Treasury &
International Banking 2)
• Head of Credit Risk Analysis and/or Head of SME &
Commercial Business and/or Head of Corporate Banking,
Transaction & Finance and/or Head of Consumer Finance
and/or Head of Transaction Banking Services and/or Head
of International Banking or Substitute Officer 2)
• Head of Internal Audit or Substitute Officer
• Head of Compliance or Substitute Officer
Secretary (concurrently Head of Risk Management or Substitute Officer
member)
Notes:
1) Other directors have the right to attend CPC meetings, but without voting rights.
2) According to the topic discussed.
2. Main Functions, Authorities, Duties, and Responsibilities of CPC
Main Functions of CPC
CPC has the following main functions:
• Assist the Board of Directors in formulating credit policies, especially those relating to prudential principle in
credit.
• Monitor and evaluate the implementation of credit policies in order to be implemented consistently and
consequently.
• Conduct periodic reviews of the Basic Bank Credit Policy (KDPB) of BCA.
• Monitor the development and condition of the credit portfolio.
• Provide suggestions and corrective measures for the results of monitoring and evaluation that have been
carried out.
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Authorities of CPC - The veracity of the implementation of
CPC has the authority to provide the legal lending limit (LLL).
recommendations on corrective measures to - Settlement of non-performing loans in
the Board of Directors on issues relating to credit accordance with the provisions of the
policy. credit policy.
- BCA’s fulfillment for the adequacy of
Duties and Responsibilities of CPC the allowance for credit write-offs.
Main duties of the CPC members are as follows: - Results of supervision of the application
• Provide inputs to the CPC secretary in and implementation of the Basic Bank
preparing the agenda and meeting materials. Credit Policy (KDPB).
• Provide inputs in the form of information
and analysis at CPC meetings to form CPC 3. Meeting of CPC
decisions, concerning: The provisions in implementing CPC meetings are
- Development of credit policies as follows:
(Corporate Loans, Commercial Loans, • CPC meetings are held as needed and at
SME Loans, Small Enterprises Loans, least once per year.
Consumer Loans, Credit Card, and • CPC meetings are valid if attended by at
Interbank Credit) in accordance with least 2⁄₃ (two-thirds) of the total members.
the mission and business plan of BCA.
- Compliance with statutory provisions in 4. Decision Making
granting credit. The decision-making provisions of the CPC are as
- Development and quality of the overall follows:
credit portfolio. • Decision making regarding to the use of the
- The veracity of exercise authority to CPC’s authority can be carried out through
decide on credit. circulation to CPC members or through
- The veracity of the process of granting, legitimate CPC meetings.
developing, and the quality of credit • Decisions through meetings or circulations
given to related parties and certain to CPC members will be considered valid
large debtors. and binding if approved by more than ½
(one-half) of the members present.
5. Frequency of CPC Meetings in 2024
As of December 31, 2024, the CPC had held 1 (one) meeting, with the following details on CPC member attendance:
Number of
Position Attendance Percentage
Meetings
President Director (Jahja Setiaatmadja) 1 1 100%
Deputy President Director 1 (Gregory Hendra Lembong) 1 1 100%
Credit Risk & Legal Director (Subur Tan) 1 1 100%
Risk Management Director (Antonius Widodo Mulyono) 1 1 100%
Compliance & Human Capital Mgmt. Director 1 1 100%
(Lianawaty Suwono)
Corporate Banking & Treasury Director (Rudy Susanto) 1) 1 1 100%
Commercial & SME Banking Director (John Kosasih) 1) 1 1 100%
Consumer Banking Director (Haryanto T.Budiman) 1)
- - -
Transaction Banking Director (Santoso) 1)
- - -
Executive Vice President in charge of Credit Risk Analysis 1) 1 1 100%
Executive Vice President in charge of Corporate Banking & 1 1 100%
Transaction 1)
Executive Vice President in charge of Treasury & International - - -
Banking 1)
Head of Credit Risk Analysis or substitute officer 1) 1 1 100%
Head of SME & Commercial Business or substitute official 1)
1 1 100%
Head of Corporate Banking, Transaction & Finance or substitute 1 1 100%
officer 1)
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Number of
Position Attendance Percentage
Meetings
Head of Consumer Finance or substitute officer 1) - - -
Head of Transaction Banking Services or substitute officer 1)
- - -
Head of International Banking or substitute officer 1)
- - -
Head of Internal Audit or substitute officer 1 1 100%
Head of Compliance or substitute officer 1 1 100%
Head of Risk Management or substitute officer 1 1 100%
Note:
1) According to the topic discussed, if they are not related to the topic under discussion, then they are excluded from the Meeting.
Details of the implementation of CPC meetings throughout 2024 are as follows:
No. Date Agenda
1 November 29, 2024 1. Corporate & Commercial Credit Category Review
2. Corporate Cash Collateral and Currency Equivalent Cash Collateral Loans
6. Accountability Reporting
Accountability and work realization of the CPC are reported through:
• Periodic written reports to the Board of Directors with a copy to the Board of Commissioners regarding the
results of supervision, monitoring and evaluation of the implementation of the Basic Bank Credit Policy (KDPB)
as well as suggestions for the necessary improvements.
• Data and other information relating to the results of supervision, monitoring and evaluation of activities.
7. Realization of Work Program in 2024
Throughout the implementation of its management duties in 2024, the CPC has implemented a work program,
namely providing recommendations related to:
• Corporate & Commercial Credit Category Review
• Corporate Cash Collateral and Currency Equivalent Cash Collateral Loans
8. CPC Work Plan in 2025
CPC has established work plans for 2025 as follows:
• Evaluate and recommend credit policies.
• Monitor the implementation of credit policies to ensure BCA’s compliance towards the applicable credit
policies.
• Monitor the development and quality of the credit portfolio as a whole.
• Identify new regulations issued by regulators and their impact on BCA’s internal policies.
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V. CREDIT COMMITTEE • Organizational Scope
The Credit Committee (CC) was formed to assist the - Definition, Mission, Main Functions, and
Board of Directors in evaluating and/or providing Position.
credit decisions in accordance with the authority - Credit Committee Organizational Chart and
limits determined by the Board of Directors, as Structure.
regulated in BCA’s Articles of Association, and by • Completeness of the Committee
focusing on business development and implementing - Main Duties and Authorities.
the prudential principle. - Decision-making.
CC Guidelines CC level
The formation of CC is guided by OJK Regulation No. In carrying out its activities, CC is divided into credit
42/POJK.03/2017 dated July 12, 2017 concerning categories, which are as follows:
Obligations for Preparing and Implementing Credit or 1. Corporate CC.
Bank Financing Policies for Commercial Banks, OJK 2. Commercial CC.
Circular Letter No. 16/SEOJK.014/2021 dated June 29,
2021 concerning the Form and Content of the Annual 1. Structure, Membership, and Voting Rights Status
Report of Issuers or Public Companies, and stipulated of the CC
through the Board of Directors’ Decree No. 176/SK/ Based on the Board of Directors’ Decree No.
DIR/2023 dated October 23, 2023 concerning the 176/SK/DIR/2023 dated October 23, 2023,
Structure and Charter of the Credit Committee. regarding the Structure and Charter of the
Credit Committee, it regulates the structure,
The scope regulated in the Board of Directors’ Decree membership, and status of CC voting rights,
No. 176/SK/DIR/2023 dated October 23, 2023 namely as follows:
concerning the Structure and Charter of the Credit
Committee is as follows:
Structure, Corporate Membership, and Status of Corporate Voting Rights Status of the CC
Position in the
Served By Voting Right Status1)
Committeee
Chairman (concurrently Credit Risk & Legal Director (DKR) Reserve voting right
member)
Permanent member • President Director (PD)
• Deputy President Director 1 (DPD1)
• Corporate Banking & Treasury Director (DBK)
• EVP GARK
• EVP GBKF2)
• EVP DTR-DIB2)
• Head of GBKF2) No voting right
• Head of DIB2)
Non-permanent member Other directors who have the authority to decide on credit Reserve voting right
Secretary (concurrently Head of GARK No voting right
member)
Note:
1) Decision making through meetings is carried out using a voting mechanism.
2) According to the topic discussed.
Structure, Commercial Membership, and Commercial Voting Rights Status of the CC
Position in the
Served By Voting Right Status1)
Committeee
Chairman2) (concurrently Head of GARK based on suitability for the commercial credit Reserve voting right
member) exposures being handled
Permanent member • Commercial & SME Banking Director (DKS)
• Credit Risk & Legal Director (DKR)
• EVP GARK
• Head of Regional Office
Secretary (concurrently Credit Adviser No voting right
member)
Note:
1) Decision making through meetings is carried out using a voting mechanism.
2) The implementation of the Chairman's duties may alternate between Group Heads based on suitability to the commercial credit exposure being handled.
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2. Main Functions, Authorities, Duties, and Main Duties of CC Members
Responsibilities of the CC Some of the duties of CC members are as follows:
• Provide direction if a more comprehensive
CC Main Functions credit analysis is necessary because the
Some of the main functions of CC are as follows: information presented is not sufficient to be
• Provide direction and, if necessary, carry out used in decision-making.
a more in-depth and comprehensive credit • Provide consideration to the draft credit
analysis. decision submitted by the recommender/
• Provide decisions or recommendations proposer.
on draft credit decisions submitted by • Decide on credit based on professional skills
recommenders/proposers related to: in an honest, objective, careful, and thorough
- Large debtors. manner.
- Specific industry. • Provide input to the secretary regarding CC
- Special requests from the Board of meeting needs.
Directors.
• Discuss credit applications, which are 3. CC Meeting
decisions of the Board of Directors that The provisions regarding the holding of CC
need to seek approval from the Board of meetings are as follows:
Commissioners, and the minutes of the • CC meetings are held as needed, at least 6
meeting are attached when requesting (six) times per year.
approval from the Board of Commissioners • CC meetings can be held and declared valid
(exception for credit extensions). if attended by at least 3 (three) members
• Coordinating with the Asset Liability who have voting rights in terms of business
Committee (ALCO) regarding aspects of and credit risk analysis.
credit funding and adjustments to corporate • CC meetings can be held via teleconference.
credit interest rates. • CC meetings must be attended by the CC
Supervisor.
CC Authority • Commercial CC meetings can be held either
The CC has the authority to make decisions or at the head office or at the local regional
recommend draft credit decisions that refer to office.
the provisions governing the authority to decide • Every CC meeting held must be stated in the
corporate credit and commercial credit, as minutes of the meeting.
stated in the Digital Work Guideline (PAKAR).
4. Decision Making
The scope of authority of the CC is as follows: The following provisions govern the CC’s
• In terms of the amount of authority: decision-making:
The CC has the authority to decide on • Credit decisions can be made by approving
credit according to the maximum amount of draft decisions circulated in writing, or by
authority determined for each type of CC. confirming approval via electronic mail
• In terms of credit decision objects: (circular memo) to CC members, or by
- Provide credit decisions for corporate holding a valid CC meeting. If the draft
and commercial categories above a decision circulated is not approved by one
certain value. of the CC members, the CC Secretary
- Provide decisions on proposed credit reschedules the CC meeting as soon as
facilities. possible.
- Determine plans for taking over/ • For Corporate CC, if the credit decision
purchasing credits, both those that taken at the CC meeting does not meet the
have been restructured and those that provisions regarding the Board of Directors’
have not been restructured, from other authority in making credit decisions, the
financial institutions. draft credit decision is circulated to seek
approval from other Directors and/or the
Board of Commissioners.
• Supervisor and resources do not have a
voting right in making credit decision.
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5. The frequency of CC meetings in 2024
In 2024, Corporate CC meetings were held 18 (eighteen) times, while Commercial CC meetings were held 7 (seven)
times. The following are the meeting implementation and attendance levels of Corporate CC and Commercial
CC:
Meeting Frequency and Attendance Level of Corporate CC Members in 2024
Number of
Position Attendance Percentage
Meetings
President Director (Jahja Setiaatmadja) 2) 18 17 94%
Deputy President Director 1 (Gregory Hendra Lembong) 2) 18 8 44%
Credit Risk & Legal Director (Subur Tan) 1) 18 14 78%
Corporate Banking & Treasury Director (Rudy Susanto) 2)
18 17 94%
Compliance & Human Capital Mgmt. Director (Lianawaty 18 6 33%
Suwono) 3)
Commercial & SME Banking Director (John Kosasih) 3) 18 6 33%
Consumer Banking Director (Haryanto T. Budiman) 3)
18 3 17%
Branch & Network Director (Frengky Chandra Kusuma) 3)
18 1 6%
Risk Management Director (Antonius Widodo Mulyono) 3) 18 - 0%
Executive Vice President GARK 2) 18 17 94%
Executive Vice President GBKF 2)
18 11 61%
Executive Vice President DTR-DIB 2) 18 - 0%
Head of GARK 2)
18 18 100%
Head of GBKF 2)
18 17 94%
Head of DIB 2) 18 - 0%
Head of Compliance Division or Substitute 4)
18 18 100%
Note:
1) Chairman (Concurrently Permanent Member).
2) Permanent Members.
3) Non-Permanent Members.
4) Supervisor.
Meeting Frequency and Attendance Level of Commercial CC Members in 2024
Number of
Position Attendance Percentage
Meetings
Credit Risk & Legal Director (Subur Tan) 2) 7 7 100%
Commercial & SME Banking Director (John Kosasih) 2) 7 7 100%
Executive Vice President GARK 2)
7 7 100%
Head of GARK 1)
7 7 100%
Head of Regional Office 2) 7 5 71%
Credit Adviser 2)
7 7 100%
Note:
1) Chairman (Concurrently Permanent Member).
2) Permanent Members.
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The implementation of Corporate CC meetings in 2024 is as follows
No. Date Agenda
1 January 18, 2024
2 February 20, 2024
3 March 19, 2024
4 March 28, 2024
5 April 30, 2024
6 May 30, 2024
7 June 11, 2024
8 August 8, 2024
9 August 15, 2024 In these meetings, decisions or recommendations are provided on the draft corporate
10 September 3, 2024 credit decisions submitted by the recommender/proposer.
11 September 12, 2024
12 October 1, 2024
13 October 8, 2024
14 October 22, 2024
15 October 29, 2024
16 November 7, 2024
17 November 26, 2024
18 December 17, 2024
The implementation of Commercial CC meetings in 2024 is as follows:
No. Date Agenda
1 January 29, 2024
2 April 18, 2024
3 June 4, 2024
In these meetings, decisions or recommendations are provided on the draft
4 July 5, 2024
commercial credit decisions submitted by the recommender/proposer
5 July 22, 2024
6 September 18, 2024
7 November 13, 2024
6. Accountability Reporting 8. CC Work Plan for 2025
CC accountability can be communicated CC has established a work plan for 2025, namely
through CC meeting minutes, circulated decision recommending and/or deciding on the provision
memoranda, and CC periodic reports. of credit (new, additional, reduction and/or
extension, and restructuring) according to
7. Realization of the 2024 Work Program authority limits, including determining/changing
In 2024, CC has provided decisions or the credit structure.
recommendations regarding the provision
of credit (new, additional, reduction and/or
extension, credit restructuring, and COVID-19
restructuring) according to authority limits,
including determining/changing the credit
structure.
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VI. INFORMATION TECHNOLOGY STEERING The scopes stipulated in the Information Technology
COMMITTEE Steering Committee Charter are as follows:
Information Technology Steering Committee (ITSC) • ITSC Mission
was established to ensure that the implementation • ITSC Main Function
of information technology (IT) systems is in line • ITSC Authorities
with BCA’s strategic plan and to increase BCA’s • ITSC Responsibilities
competitive advantage through the appropriate use • ITSC Charter Periodic Review
of information technology. ITSC was established by
BCA based on Board of Directors’ Decree No. 216/ 1. Structure, Membership of ITSC, and Status of
SK/DIR/2024, concerning the Information Technology Voting Rights
Steering Committee (KPTI) Charter. Based on the Board of Directors’ Decree No.
216/SK/DIR/2024 dated December 17, 2024
Guideline/Charter concerning Information Technology Steering
The ITSC carry out its duties and responsibilities in Committee (KPTI) Charter, the Board of
accordance with the Board of Directors’ Decree Commissioners’ Decree 138/SK/KOM/2022 dated
No. 216/SK/DIR/2024 dated December 17, 2024 August 15, 2022, concerning the division of duties
concerning Information Technology Steering and responsibilities of the Board of Directors and
Committee (KPTI) Charter and Basic Risk Management the Main Framework of PT Bank Central Asia Tbk
Policy for the use of Information Technology. Organization, and the Board of Directors Decree
No. 022/SK/DIR/2024 dated January 31, 2024,
concerning Adjustment of the Organizational
Structure of Strategic Information Technology
Group (GTI), the structure, membership, and
voting rights status of ITSC are as follows:
Position in the
Served By Voting Right Status
Committeee
Chairman (concurrently Deputy President Director - IT & Digital Banking Reserve voting right
member)
Secretary Head Of IT Management Office No voting right
Member • Risk Management Director Reserve voting right
• Branch Network Director
• Head of Risk Management Division
• Head of Compliance Division
• Executive Vice President Strategic Information Technology
Group (GSIT)
• Executive Vice President Operation Strategy &
Development Group (POL)
• Head of IT Main User Work Unit 1)
• Head of Internal Audit No voting right
Note:
1) Participation in the meeting depends on the meeting topic that is relevant to the work unit concerned.
2. Main Functions, Authorities, Duties, and Authorities of ITSC
Responsibilities of ITSC The ITSC has the following authorities:
• Provide recommendations to the Board of
Main Functions of ITSC Directors on the IT strategic plans to align
The ITSC has the following main functions: with the BCA’s strategic business activities
• Review and recommend IT strategic plans to plans.
be in line with the BCA’s corporate plans. • Provide recommendations for strategic
• Conduct regular evaluations of IT measures to minimize the risk of BCA’s
performance along with efforts to improve investment in the IT sector.
its performance in supporting BCA business • Provide recommendations for investment
activities feasibility in the IT sector that can contribute
• Ensure the cost-effectiveness of IT towards the achievement of BCA’s business
investments to provide added value to the objectives.
company. • Provide recommendations on the
formulation of the key IT policies, standards,
and procedures.
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Duties and Responsibilities of ITSC 3. Meeting of ITSC
ITSC is responsible for providing The following are the provisions of the ITSC
recommendations related to, among others: meetings:
• IT strategic plan in line with BCA's corporate • ITSC meetings are held in accordance with
plan. the needs of BCA, at least 4 (four) times per
• IT policies, standards and procedures. year.
• Conformity between IT development plan • ITSC meeting can only be held if it is
and IT strategic plan. attended by at least 2/3 (two thirds) of the
• Conformity between IT development total members invited and reserves the
implementation and IT development plan. voting rights.
• Evaluation of IT cost effectiveness against • Meetings attended non-physically are
the achievement of planned benefits. conducted through teleconference, video
• Monitoring of IT performance and efforts to conferences, or other electronic media
improve IT performance. facilities that must allow all ITSC meeting
• Efforts to resolve various IT-related problems participants to see and/or hear each other
that cannot be resolved by the IT user and directly and participate in the meeting.
organizer work units effectively, efficiently
and in a timely manner. 4. Decision Making
• Adequacy and allocation of BCA's IT-related The following are the provisions of the ITSC
resources. related to decision making in the meeting:
• The decision making in relation to the
authority utilization of ITSC can only be
exercised through a legitimate ITSC meeting.
• The ITSC meeting decision are valid and
binding if agreed by at least ½ (one-half) of
the total members present and reserves the
voting rights plus 1 (one) vote.
5. Frequency of ITSC Meetings in 2024
As of December 31, 2024, the ITSC had held 4 (four) meetings with the following details:
Number of
Position Attendance Percentage
Meetings
Deputy President Director – IT & Digital Banking1) 4 43) 100%
Risk Management Director 4 4 100%
Branch Network Director 4 43) 100%
Head of Risk Management Division 4 4 3)
100%
Head of Compliance Division 4 43) 100%
Executive Vice President Strategic Information Technology 4 4 3)
100%
Group (GSIT)
Executive Vice President Operation Strategy & Development 4 33) 75%
Group (POL)
Head of Internal Audit2) 4 33) 75%
Note:
1) Chairman of the Committee, Director in charge of IT
2) No Voting Rights
3) Present, represented once
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The following are the agenda for ITSC meetings throughout 2024:
No. Date Agenda
1 April 30, 2024 • IT Strategic Project
• IT Availability
2 July 16, 2024 • DC DRC Updates
• DR Exercise
• Modernisasi EAI
• BI Fast Update
• MPP & Budget Update
3 October 7, 2024 • SAP-EBI Updates
• Mainframe Monitoring System
• Java Oracle Migration
• Q3 Status Update
• Subsidiaries Services
4 December 11, 2024 • BCA's DR Process
• GSIT Performance Update 2024
6. Accountability Reporting • Evaluate and supervise:
Accountability report/realization of ITSC work is a) implementation of strategic IT projects
submitted through minutes of ITSC meetings with that are in line with BCA's strategic
the following provisions: corporate objectives and BCA's
• ITSC members’ presence in the meeting has business direction.
met the quorum. b) Implementation of compliance with
• The ITSC meeting results must be stated regulatory rules.
in the minutes of meeting and properly • Conduct assessment and monitoring:
documented. a) Realization of MPP and IT Budget in
• Minutes of meetings are prepared by the 2024.
ITSC secretary and signed by the ITSC b) Strategic steps to improve IT service
chairman. levels and optimize disaster recovery.
c) Follow-up to mitigate cyber-attacks.
7. Realization of Work Program in 2024
As of December 31, 2024, ITSC realized the 8. ITSC Work Plan in 2025
following work programs: ITSC has set a work plan for 2025 as follows:
• Evaluate and supervise the IT initiatives a. Review the IT strategic plans to align with
implemented to support the delivery of IT the strategic BCA’s business activities plan.
strategic projects, as follows: b. Review the effectiveness of strategic
a) Update on the progress of the measures to minimize the risk of BCA’s
construction of the new data center to investment in the IT sector.
support BCA's IT infrastructure needs in c. Review the investment feasibility in the
the long term, including the migration IT sector that can contribute towards the
strategy to the new data center, as well achievement of BCA’s business objectives.
as new aspects that have a positive
impact on the availability of BCA
services.
b) Progress of strategic projects such as:
myBCA Individual, myBCA Business,
and others.
c) IT infrastructure modernization project,
BI Fast connector migration.
d) Disaster Recovery Process using
Tabletop Scenario.
e) Services for Subsidiaries.
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VII. PERSONNEL CASE ADVISORY COMMITTEE PCAC Guidelines
The Personnel Case Advisory Committee (PCAC) In order to support the implementation of its duties
is formed by and reports to the Board of Directors and responsibilities, the PCAC is guided by the Board
based on the Board of Directors' Decree No. 145/SK/ of Directors Decree No. 145/SK/DIR/2021, dated July
DIR/2021 dated July 28, 2021, concerning the Charter 28, 2021, concerning the Charter of the Personnel Case
of the Personnel Case Advisory Committee (PCAC). Advisory Committee.
The PCAC was established with the mission to provides
independent recommendations to the Board of Directors 1. Structure, Membership of PCAC, and Voting
regarding the resolution of cases that adhere to the Rights Status
principles of justice and equality by reviewing cases of The PCAC Charter governs the structure,
violations and/or crimes committed by employees. membership, and status of the PCAC voting rights,
which are as follows:
Position in the Committeee Served By Voting Right Status
Chairman (concurrently Head of Human Capital Management Division
permanent member)
Permanent member • Head of Internal Audit Division
• Head of Legal Group Reserve voting right
• Executive Vice President Operation Strategy & Development
Group (POL)
Non-permanent member Head of Network Management and Regional Development Division
Secretary Head of Audit Sub-Division of Branch Offices and Regional Offices No voting right
2. Main Functions, Authorities, Duties, and PCAC Duties and Responsibilities
Responsibilities of PCAC The main duties of PCAC members who have
voting rights are to provide input in the form
Main Functions of the PCAC of information, analysis, and considerations at
The PCAC has several main functions, as follows: meetings to make suggestions/recommendations
• Review cases of violations and/or crimes for the PCAC regarding:
committed by employees that require a • Imposition of sanctions.
decision from the Board of Directors for • Improvement of operational systems and
follow-up resolution. procedures.
• Provide consideration to the Board of • Legal processing of cases.
Directors in determining follow-up actions
for settlement of cases of violations and/ If the committee member is absent, his presence
or crimes, which include the imposition can be represented by another officer (one
of sanctions, improvement of operational position level below the member) appointed by
systems and procedures, and legal the member via appointment letter.
processing of cases if necessary.
• Periodically review the settlement of 3. Meeting of PCAC
violations and/or crime cases decided by Several provisions concerning the conduct of
the Head of the Main Branch Office, Head of PCAC meetings are as follows:
the Regional Office, and Head of Division/ • PCAC meetings are held on an as-needed
officer equivalent to the work unit of the basis.
head office. • Members own the right to vote.
• Provide advice and direction (if needed) to • A PCAC meeting is considered valid if it is
branch offices, regions, and divisions/work attended by at least 2/3 (two-thirds) of the
units of the head office in handling cases of Permanent Members.
violations and/or crimes.
4. Decision Making
PCAC’s Authority Some of the provisions concerning PCAC
PCAC has the authority to provide suggestions/ meeting decision and PCAC decision-making are
recommendations to the Board of Directors as follows:
regarding the settlement of cases of violations • The use of PCAC authority for decision
and/or crimes committed by workers. making is only taken through a valid PCAC
meeting decision.
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• Decisions from the PCAC meeting can take the form of:
- One recommendation to the Board of Directors that is unanimously agreed upon by all members; or
- Multiple recommendations to the Board of Directors (if no mutual agreement is reached).
5. Frequency of PCAC Meetings in 2024
As of December 31, 2024, the PCAC had held 18 (eighteen) meetings with details regarding the dates and
attendance of PCAC members as follows:
Number of
Position Attendance Percentage
Meetings
Head of Human Capital Management Division *) 18 18 100%
Head of Internal Audit Division 1) 18 18 100%
Head of Legal Group 1) 18 18 100%
Executive Vice President Operation Strategy & Development Group (POL) 1)
18 14 78%
Head of Network Management and Regional Development Division 2) 18 16 89%
Note:
*) Chairman.
1) Permanent Member.
2) Non-Permanent Members.
The following are the agenda for PCAC meetings throughout 2024:
No. Date Agenda
1 January 3, 2024
2 January 11, 2024
3. February 12, 2024
4. March 8, 2024
5. March 27, 2024
6. April 4, 2024
7. April 25, 2024
8. June 20, 2024
9. June 25, 2024 Providing recommendations/suggestions to the Board of Directors regarding the
imposition of sanctions on employees for several cases of violations where sanctions
10. June 27, 2024 require a decision by the Board of Directors (authority of the Board of Directors).
11. July 10, 2024
12. July 16, 2024
13. August 1, 2024
14. September 3, 2024
15. September 27, 2024
16. October 16, 2024
17. October 17, 2024
18. November 25, 2024
6. Accountability Reporting
The accountability report on the realization of PCAC work can be submitted via:
• Minutes of PCAC routine meetings.
• Minutes of special PCAC meetings held to discuss certain matters.
7. Realization of Work Program in 2024
PCAC has realized a work program that includes providing input in the form of information, analysis, and
considerations to make recommendations to the Board of Directors for several cases of violations committed by
employees that require a decision from the Board of Directors for follow-up settlement in the form of imposition
of sanctions and/or improvement of operational systems and procedures and/or legal processing of cases.
8. PCAC Work Plan in 2025
The PCAC will carry out its duties and responsibilities to provide input in the form of information, analysis, and
consideration at meetings to make proposals/recommendations related to employment cases that occur in 2025.
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CORPORATE SECRETARY
BCA has a corporate secretary who carries out duties and responsibilities including:
1. Ensuring that BCA has applied the principles of good corporate governance;
2. Maintaining BCA’s positive image and interests;
3. Establishing positive relationships with all stakeholders;
4. Providing support to the management of BCA’s business operations;
5. Performing secretarial duties; as well as
6. Ensuring that BCA complies with all applicable regulations.
The Structure and Position of the Corporate Secretary
Based on Decree No. 149/SK/DIR/2022 dated September 27, 2022, the functions and roles of the BCA Corporate Secretary
are currently carried out by the Executive Vice President (EVP) who oversees the Economic, Banking, & Industrial Research
Group, Environment Sustainability Governance (ESG) Group, Investor Relations Group (IVR), Accounting Group (ACT), and
Tax Group (TAX). The Corporate Secretary reports directly to the Director of Planning and Finance.
Figure 1: Position of the Corporate Secretary in the organizational structure
GMS
BOARD OF DIRECTORS
CFO OFFICE
DIRECTOR OF
OTHER CORPORATE
DIRECTORS FINANCE AND
PLANNING
EXECUTIVE VICE
PRESIDENT
(CORPORATE SECRETARY)
CORPORATE ENVIRONMENTAL
BANKING AND
OTHER HEAD PLANNING SUSTAINABILITY
REGIONAL INDUSTRY INVESTOR ACCOUNTING TAX
OFFICE WORK & STRATEGY GOVERNANCE
OFFICE ECONOMIC RELATION GROUP GROUP GROUP
UNITS GROUP
DIVISION RESEARCH
Legal Basis and Company Secretary Profile
Raymon Yonarto has served as the BCA Corporate Secretary since 2019 until present, based on Decree No. 2271/SK/HCM-
KP/A/2019 dated September 1, 2019. This appointment was also reported to the OJK via Letter No. 489/DIR/2019 dated
September 3, 2019, in compliance with OJK Regulation No. 35/POJK.04/2014 dated December 8, 2014. This information
was disclosed to the public on September 3, 2019, via OJK e-reporting, IDX, and the BCA website.
The BCA Corporate Secretary’s profile, position, legal basis for appointment, work experience, and educational history can
be found in the Company Profile section on page 91 of this Annual Report.
Competency Development and Training Program
Throughout 2024, the Corporate Secretary has participated in several competency development and training programs,
both online and offline, to support the implementation of his duties, including the following:
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No Training/Workshop Program Organizer Date Location
1 Mandiri Investment Forum 2024 Mandiri Sekuritas March 7-8, 2024 Jakarta
2 Risk Management Certification Provision Lv 6 LSPP & Learning & March 18-19, 2024 Jakarta
Development Division
3 Risk Management Certification Lv 6 LSPP & Learning & March 21, 2024 Jakarta
Development Division
4 JP Morgan's 7th ASEAN TMT & Fintech JP Morgan Securities April 25, 2024 Jakarta
5 Morgan Stanley Virtual ASEAN Conference 2024 Morgan Stanley May 16, 2024 Jakarta
6 CITI Pan Asia Regional Investor Conference Citi Group Securities May 30, 2024 Jakarta
7 Risk Management Certification Provision Lv 7 LSPP & Learning & June 6-7, 2024 Jakarta
Development Division
8 Risk Management Certification Lv 7 LSPP & Learning & June 12, 2024 Jakarta
Development Division
9 20th CITIC CLSA ASEAN Forum CLSA June 13, 2024 Jakarta
10 BoFA Financial and REIT Equity Credit Conference Bank of America - Merryl June 19, 2024 Jakarta
Lynch
11 Capital Market Legal Consultants Association Capital Market Legal July 17, 2024 Jakarta
Seminar - Share Buyback by Public Companies Consultants Association
- AEI
12 Capital Market Legal Consultants Association Capital Market Legal July 17, 2024 Jakarta
Seminar - Share Buyback by Public Companies Consultants Association
- AEI
13 National Seminar - Strengthening the Quality of Indonesian Institute of July 23, 2024 Jakarta
Financial Reporting in Support of the Indonesian Accountants
Economy and Capital Market
14 Sustainable Finance Taxonomy Financial Service August 22, 2024 Jakarta
Authority
15 Impact Leader - Cultivating Collaboration, Agility DPP Prasetya Mulya September 30, 2024 Bogor
and Empathy
16 FGD Economist Meeting 2024 Industrial Economics October 1, 2024 Jakarta
Research
17 JP Morgan Virtual ASEAN Financials Forum JP Morgan Securities October 2, 2024 Jakarta
18 UOB Kay Hian Asian Gems Conference UOB Kay Hian October 8, 2024 Jakarta
19 Macquarie International Conference Macquarie Securities November 18-19, Sydney
2024
20 IKF - Linear to Limitless: Advancing Business BCA Bakti Foundation - December 12-13, Jakarta
Exponential Growth DPP 2024
21 New Corporate Governance Leadership IICD December 5-6, 2024 Bali
Program: Internalizing Integrated Mindset Toward
Sustainable Long Term Values Creation
Functions of the Corporate Secretary 3. Assisting the Board of Directors and the Board of
The function of the BCA Corporate Secretary is based Commissioners in the implementation of corporate
on Article 5 of OJK Regulation No. 35/POJK.04/2014 governance, which includes the following:
concerning Corporate Secretaries of Issuers or Public a. Public disclosure of information, including the
Companies, the BCA Governance Guidelines, and the availability of information on the BCA website;
Board of Directors’ Decree No. 149/SK/DIR/2022 dated b. On-time submission of reports to OJK;
September 27, 2022 concerning Organizational Structure c. GMS organization and documentation;
of CFO, which include: d. Organizing and documenting Board of Directors
1. Monitoring capital market developments, particularly and/or Board of Commissioners meetings; and
applicable capital market laws and regulations; e. The implementation of a BCA orientation program
2. Providing input to the Board of Directors and the Board for the new member of Board of Directors and/or
of Commissioners in order to comply with statutory the Board of Commissioners.
provisions in the capital markets sector;
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4. As a good communication liaison between BCA and internal and external parties such as BCA shareholders, OJK, and
other stakeholders;
5. Providing and organizing a special share ownership list for members of the Board of Directors and the Board of
Commissioners;
6. Providing a List of Shareholders per month and list of shareholders per recording date for BCA corporate actions;
7. Responsibility for organizing the BCA GMS and other corporate actions organized by BCA;
8. Building and managing the company’s image, as well as being in charge for the function of corporate communications,
investor relations, corporate secretariat, integrated GCG, and sustainable finance.
Implementation of Corporate Secretary Duties in 2024
Throughout 2024, the Corporate Secretary performed the following duties and responsibilities:
No. Subject Description
1. Implementation a. Coordinated the distribution of dividend financial year 2024.
of capital market, b. Organized a blackout period for the Board of Commissioners and the Board of Directors.
stock exchange and c. Organized Live Public Expose on August 28, 2024
other provisions d. Organized 2024 Analyst Meeting includes:
• January 25, 2024 (position as of Quarter IV - 2023).
• April 22, 2024 (position as of Quarter I - 2024).
• July 24, 2024 (position as of Semester I -2024).
• October 23, 2024 (position as of Quarter III -2024).
e. Conducted Self-Assessment of the Implementation of Integrated Governance for Semester I
and Semester II of 2024.
f. Conducted Self-Assessment of Corporate Governance Implementation for Semester I and
Semester II of 2024.
2. Participated in the a. Socialization of OJK Regulation No. 26 of 2023 concerning Users of International Financial
socialization and Accounting Standards in the Capital Market
developments b. Socialization of OJK Regulation No. 29 of 2023 concerning Buyback of Shares Issued by Public
of the latest Companies
provisions, c. Socialization of OJK Regulation No. 4 of 2024 concerning Reports on Ownership or Any
particularly those Changes in Ownership of Public Company Shares and Reports on Activities of Pledge of Public
applicable to the Company Shares
capital markets d. Socialization of Implementation of New Version of Statistical Publication to IDX Listed
sector Companies
e. Socialization Draft of OJK Regulation concerning Conglomerates and Holding Companies of
Financial Conglomerates
f. Socialization Draft of OJK Regulation concerning Written Orders
g. Socialization Draft of OJK Regulation concerning Bank Secrecy
3. Providing input/ a. Providing input or review to BCA affiliated transactions.
opinions to comply b. Ensuring the implementation of meetings and training for members of the Board of
with laws and Commissioners and Directors.
regulations in the c. Providing input and coordinating the Sustainable Financial Action Plan.
capital markets d. Following up on the fulfillment of the ASEAN Corporate Governance Scorecard (ACGS) criteria.
sector e. Reviewing and coordinating with related work units in preparing several policies, including the
Board of Commissioners Committee charter, the Board of Directors Committee charter, the
website information management policy, the affiliated transaction policy, and the policy on
adjusting the Procedures for Submitting Customer-Based Deposit Guarantee Data Reports.
4. Enhancing the a. Organizing integrated governance mapping in the BCA financial conglomerate every semester
implementation in 2024.
of the governance b. Conducting group discussion forums with Subsidiary Companies quarterly to discuss
based on applicable implementation related to ESG include the calculation of carbon emissions of BCA's
regulations/legal subsidiaries, related party transactions and conflicts of interest, as well as the implementation
provisions of anti-fraud measures.
c. Carrying out socialization and education related to GCG through internal communication
means, including internal branch displays, plasma TVs, and internal portals, as well as in
meetings or conferences with work units.
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No. Subject Description
5. Public disclosure a. Periodically reviewing and improving the BCA website for the Governance, Investor Relations,
of information, and Sustainability sections; (Taking the Personal Data Protection Act into account).
including the b. Providing information/investor news disclosure reports to both investors and the public.
availability of The report can be accessed on the BCA website: https://www.bca.co.id/en/tentang-bca/
information on the hubungan-investor/berita-investor
Issuer’s or Public c. Providing BCA reports on the BCA website, including:
Company’s website 1) Annual Reports (https://www.bca.co.id/en/tentang-bca/hubungan investor/laporan-
presentasi/laporan-tahunan);
2) Monthly, Quarterly and Annual Financial Statements (https://www.bca.co.id/en/tentang-
bca/hubungan-investor/laporan-presentasi/laporan-keuangan);
3) Corporate Governance Reports (https://www.bca.co.id/en/tentang-bca/tata-kelola/acgs/
laporan-acgs);
4) Integrated Corporate Governance Reports (https://www.bca.co.id/en/tentang-bca/tata-
kelola/acgs/laporan-acgs);
5) Sustainability and/or Corporate Social Responsibility Reports (https://www.bca.co.id/en/
tentang-bca/keberlanjutan/laporan-keberlanjutan).
d. Disclosed the Action Plan (Recovery Plan) which can be accessed at the BCA website:
(https://www.bca.co.id/en/tentang-bca/tata-kelola/acgs/kebijakan-gcg)
e. Managed the implementation of capital participation in subsidiary companies as stated on the
BCA website:
(https://www.bca.co.id/en/tentang-bca/hubungan-investor/berita-investor)
f. Provided Share Ownership Transaction Reports for the Board of Commissioners and the Board
of Directors via the Indonesian Stock Exchange website.
6. Submitting reports a. Submitted the Audited Financial Statement.
to OJK in a timely b. Submitted reports or correspondence related to the implementation of governance and
manner fulfillment of capital market provisions to the OJK and the Indonesia Stock Exchange, including
but not limited to affiliated transaction reports, monthly reports on registration of securities
holders, and reports on share ownership of the Board of Commissioners and the Board of
Directors as described in the Access to Information section in this Annual Report.
c. Submitted a Report on the Implementation of Good Corporate Governance per year.
d. Submitted Reports or correspondence related to the implementation of integrated governance
to the OJK and the Indonesia Stock Exchange as described in the Access to Information section
in this Annual Report.
e. Submitted other reports related to capital market and stock exchange regulations.
7. Implementation a. Held the Annual GMS for the 2023 Financial Year on March 14, 2024.
and documentation b. Properly documented BCA Annual GMS data consisting of announcements, summons, and
of the General results of Annual GMS resolutions, including through:
Meeting of 1) The BCA website which can be accessed at: https://www.bca.co.id/en/tentang-bca/tata-
Shareholders (GMS) kelola/aksi-korporasi.
2) Softcopy and hardcopy documentation of data, which is managed by the Corporate
Secretary & the Integrated GCG Bureau - Environment Sustainability Governance (ESG)
Group for data collection.
8. Implementation Prepare minutes and organize the minutes of the Board of Directors and/or Board of Commissioners
and documentation meetings.
of meetings of the
Board of Directors
and/or Board of
Commissioners
9. Implementation Filling the BCA internal portal, namely the MyBCA hotspot section, with related GCG Article links:
of communication a. Assessment of Digital Maturity Level of Commercial Banks
facilities and b. Use of International Financial Accounting Standards in the Capital Market
providing internal c. Buyback of Public Company Shares
events d. Provisions for Reporting Ownership of Public Company Shares
e. Relisting and Delisting
f. Implementation of Financial Sector Technology Innovation
g. Full Periodic Call Auction Mechanism on the Special Monitoring Board
h. Implementation of Anti-Fraud Strategy for Financial Services Institutions
i. Transparency and Publication of Basic Credit Interest Rates for Conventional Commercial Banks
j. Users of Carbon Exchange Services
k. Utilization of Information Technology with Financial Sector Technology Innovation Providers
l. Integrity of Bank Financial Reporting
422 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
No. Subject Description
10. Manage BCA a. Updated information on the Corporate Governance. Investor Relations, and ESG section.
communication b. Managed and update information on BCA's website in accordance with applicable regulations.
materials c. Coordinated with the Public Relations team to prepare press release materials related to BCA's
performance and development. The 2024 press release report is detailed in the Access to
Information and Company Data Section in this Annual Report.
d. Conducted roadshows, seminars, and meetings with foreign investors.
Information Disclosure Report
Throughout 2024, the Corporate Secretary has conveyed various information related to BCA to the public both in Indonesian
and English through mass media, the BCA website, and the IDX website. The Corporate Secretary has also submitted
periodic and incidental reports to the IDX, the Capital Market OJK and/or the Banking Supervisory OJK, and the IDXnet and
SPEOJK e-reporting sites. The Disclosure of Information Report can be seen in the Information Access and Company Data
section on page 470 of this Annual Report.
2024 Annual Report PT Bank Central Asia Tbk 423
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
INVESTOR RELATIONS FUNCTION 2. Investor Relations Activities
Investor Relations communicates with investors,
1. Investor Relations Primary Duties potential investors, analysts, the financial community,
The primary duties of investor relations are to represent and the capital market to provide them with accurate
and/or assist the Board of Directors in dealings with and up-to-date information about performance,
the investor and capital market communities, which business prospects, and relevant information for
include: decision making. Investor Relations activities continue
• Preparing and implementing communication to prioritize confidentiality and equal treatment for all
strategies, providing updates to all stakeholders investors.
including investors (institutional and retail), fund
managers and analysts regarding performance BCA holds quarterly analyst meetings and a public
developments, strategies and business expose once a year on a regular basis to present BCA’s
achievements. Investor Relations also conveys performance results over a fiscal year. BCA actively
other important information related to company participates in virtual and offline conferences, as
activities (corporate actions) in a proportional, well as non-deal road shows organized by securities
accurate, timely manner, and in accordance with firms, which bring BCA together with domestic
applicable regulations. and international investors. BCA also maintains
• Maintaining good relationships with the financial relationships with a diverse group of investors and
community including analysts, investors, potential investors, both retail and institutional.
and other external parties to obtain updated
information regarding the company and also In 2024, meetings with analysts and investors took
banking industry and economy developments. place in a hybrid format, both online and person. In
• Regularly monitoring, analyzing, and conducting total, Investor Relations activities increased by 2.48%
research on developments in the banking YoY to reach 413 (four hundred thirteen) activities
industry, financial industry, competitors, BCA in 2024. Investor Relations also held an Analyst
share performance developments, the capital Expo Day, where analysts were invited to attend
market (equity market) as input, opinions, and the BCA Expoversary which was held in February
recommendations to the Board of Directors, the 2024. To strengthen relationships, especially with
Board of Commissioners, business work units, retail investors, Investor Relations collaborated with
subsidiary companies, and other divisions. several asset management companies and securities
• Participating in road shows & conferences companies to conduct talk shows on investment/
and holding analyst meetings & performance updates on market dynamics that have been held 4
presentations, company visits, and conference times during 2024.
calls to strengthen relationships with
stakeholders. Statistics on BCA's Investor Relations Activities in
• Conveying updated information on the website 2024 and 2023 are as follows:
and other communication materials for the 2024 2023
benefit of investors, as well as supporting the
Analyst Meeting & Public 5 5
preparation of the company's Annual Report. Expose1)
• Striving to obtain good corporate ratings so that
Investor & analyst Calls & 267 254
BCA is able to maintain its financial reputation
Virtual Meeting (domestic and
and credibility in accessing capital markets and overseas)2)
wholesale financial markets.
Investor Visits3) 141 144
• Supporting and/or collaborating with other
Total 413 403
divisions related to corporate action activities,
Description:
such as fund/capital raising, acquisitions, 1) Financial and non-financial performance results are presented to investors,
mergers, investments, and sale of assets/ analysts, and media partners.
2) BCA holds meetings with local/foreign investors and analysts, including
investments. retail investors, to provide updates on BCA’s performance and strategy.
3) BCA provides facilities for local/foreign investors to meet in person with
the Board of Directors/Management of BCA.
424 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
1,046 (one thousand forty-six) participants who Monthly Investor Relations Activity Frequency in 2024
attended conferences, investor calls and meetings
both online and physically, with the following 52 52 52
composition by country of origin:
41
39 39
Others*)
17% 30
23 23 24
Indonesia, 22
27% 16
Hong Kong,
13%
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
USA, 8% The average frequency of Investor Relations activities in
2024 is 34 (thirty-four) activities per month.
Singapore,
Investor Relations Contact
UK, 13%
22% BCA Investor Relations can be contacted via:
PT Bank Central Asia Tbk
Description
*)
Others came from: Malaysia, Australia, India, Japan, Thailand, Menara BCA Grand Indonesia 20th Floor
China, Canada, Switzerland, Denmark, United Emirate Arab, Jl. M.H. Thamrin No. 1, Jakarta
Ireland, Taiwan, France, Finland, Sweden, Netherlands, South
Africa, Belgium, Norway, German. Tel.: +62 21 235 88000
E-mail: investor_relations@bca.co.id
2024 Annual Report PT Bank Central Asia Tbk 425
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
INTERNAL AUDIT DIVISION
Internal Audit Division (DAI) performs its duties and responsibilities independently and objectively, led by the Head of the
Division, whose responsible to the President Director. The head of DAI is appointed and dismissed by the President Director
after obtaining the approval of the Board of Commissioners, considering the Audit Committee’s recommendations. DAI
was formed to strengthen the company's ability to create, protect, and maintain BCA value by providing assurance,
advice, insight, and foresight that are independent, risk-based, as well as objective, also acting as a strategic partner of
management in building BCA into a leading bank in Indonesia. The audit carried out by DAI aims to assess the adequacy
and effectiveness of BCA's governance, risk management, and internal control processes. The implementation of DAI
functions is guided by OJK Regulation No. 1/POJK.03/2019 concerning the Implementation of the Internal Audit Function in
Commercial Banks and the International Professional Practices Framework established by The Institute of Internal Auditors
as a professional standard for internal audit.
DAI, in its role as third line, continuously coordinates and communicates with work units/other line functions in order to
collaborate and contribute to each other in creating and maintaining value that is aligned with stakeholder interests.
Structure and Position of the Internal Audit Division
GENERAL MEETING OF SHAREHOLDERS (GMS)
PRESIDENT DIRECTOR BOARD OF COMMISSIONERS
COMPLIANCE & Audit Committee
DEPUTY HUMAN CAPITAL
DIRECTORS
DIRECTORS MANAGEMENT
DIRECTOR
DIRECTORS
Internal Audit
Division
Head Office and Branch and Regional Information Quality Control
Credit Review
Subsidiaries Audit Office Audit Sub- Technology Audit Assurance and Audit
Bureau
Sub- Division*) Division Sub-Division Development
Description:
Reporting line
Communication Line
*) Includes Integrated Internal Audit function
DAI’s organizational structure is reviewed on a regular basis to ensure that it is in line with the company’s business needs and
developments. The Board of Directors’ Decree No. 063/SK/DIR/2017 concerning Revision of the Organizational Structure
of the Internal Audit Division (DAI) standardized the most recent update to DAI’s organizational structure. DAI is responsible
directly to the President Director and has direct communication with the Board of Commissioners and the Audit Committee.
426 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Head of Internal Audit Division Profile
Description Experience Education
The Head of the Internal Audit Division - Head of Internal Audit Division (February - Bachelor of Civil Engineering
was led by Mr. Leo Ariston since 2024, 2024-present) from Parahyangan Catholic
based on Employee Appointment - Senior Vice President of Information University in 1996
Decree number 0572/SK/HCM- Technology Audit Subdivision (2017-2023)
KP/A/2024 dated February 1, 2024. - Senior Vice President of Branch & Regional
Office Audit Subdivision (2016-2017)
- Vice President of Branch & Regional Office
Audit Subdivision (2011-2016)
Table of Development
No. Development Program Organization Institution Date
1 Risk & Governance Summit 2024 Otoritas Jasa Keuangan November 26, 2024
2 Indonesia Knowledge Forum XIII 2024 Bank Central Asia November 12-13, 2024
3 State of Cybersecurity 2024 ISACA October 1, 2024
4 ACIIA Regional Conference Institutes of Internal Auditors August 28-29, 2024
Internal Audit Charter 2. Gain access to all data, personnel/property, and
BCA Internal Audit Charter is a framework that provides resources from BCA and its subsidiaries relevant to the
guidance in carrying out Audit tasks and consists of mission, implementation of their duties and responsibilities.
organizational position, independence and objectivity, 3. Communicate directly with the Board of Directors,
authority, and scope of work. The Internal Audit Charter Board of Commissioners, and Audit Committee.
has been reviewed in 2024 in which it was approved by the 4. The Head of DAI can hold regular and incidental
President Director and Board of Commissioners, taking into meetings with the Board of Directors, Board of
account the recommendations of the Audit Committee. Commissioners, and Audit Committee.
The Internal Audit Charter refers to OJK Regulation 5. Cooperate and coordinate with the internal audit
No. 56/POJK.04/2015 concerning the Establishment work unit in the Subsidiary Company, and if necessary,
and Guidelines for the Preparation of the Internal Audit communicate with the Board of Commissioners in
Charter and is in accordance with to OJK Regulation No. the Subsidiary Company in order to implement the
1/POJK.03/2019 concerning the Implementation of the integrated internal audit function.
Internal Audit Function in Commercial Banks and applicable 6. Coordinate activities with external auditors.
internal audit professional standards. 7. Participate in strategic Company meetings without
having voting rights.
Independence & Objectivity
DAI’s position is independent of operational work units or
risk-taking units, as DAI does not have the authority and Audit Implementation and Quality Control
responsibility to carry out operational activities at BCA and Standards
its Subsidiaries. DAI’s audit function implementation standards are guided
by the Internal Audit Professional Standards, including:
Every internal auditor must declare that he has no familial/ • OJK Regulation No. 1/POJK.03/2019 concerning
financial/other interests in the audit object and/or the party the Implementation of Internal Audit Function in
being audited (auditee) that could affect the objectivity Commercial Banks
of the audit. During 2024, DAI carried out audit activities • OJK Regulation No. 11/POJK.03/2022 concerning
independently where there are no conflicts of interest, the Implementation of Information Technology in
restrictions on scope and access to data, personnel, or Commercial Banks
property, or resource constraints that could affect the • International Professional Practices Framework
independence and objectivity of audit implementation. established by The Institute of Internal Auditors
• Information Technology Audit Framework (ITAF)
The President Director and Board of Commissioners established by the Information System Audit and
approved DAI's annual audit plan and budget allocation by Control Association (ISACA) as a reference for best
considering the recommendations of the Audit Committee. practices.
DAI has the authority: Internal audit applies a risk-based audit methodology in
1. The Head of DAI is given the freedom to determine the its activities, which includes planning, implementation,
audit methodology which is carried out in accordance and reporting, as well as monitoring follow-up
with the profession and internal audit standards. improvements. In line with technological advances, DAI
2024 Annual Report PT Bank Central Asia Tbk 427
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
strives to continuously optimize the use of data, tools, and Internal Audit Duties and Responsibilities
technology to increase the effectiveness and efficiency The following are the tasks and responsibilities of Internal
of audit implementation as well as increasing added value Audit in performing its functions:
and early warning systems for potential errors/fraud, 1. Assist the President Director and Board of
including the implementation of Continuous Auditing, Commissioners in decision-making and supervision
Robotic Process Automation, Predictive Analytic Tools, and by operationally explaining planning, implementation,
Machine Learning. and monitoring of audit results.
2. Assess the adequacy and effectiveness of the
DAI has used an integrated Audit Management System to company’s governance, risk management, and
support the implementation of audit activities, from audit internal control processes.
planning, audit process implementation and monitoring 3. Resource and budget usage effectiveness evaluation.
follow-up improvements, which can be observed via the 4. Provide the objective improvement recommendations
dashboard. for the activity being audited at all levels of
management.
DAI has a quality control and audit development unit 5. Act as an advisor for internal company parties who
that is in charge of ensuring conformity with established need it, especially regarding the scope of their duties
standards and code of ethic. External reviews as part of 6. Coordinate with work units that carry out other internal
independent quality control have been carried out every control functions.
3 (three) years, most recently in 2023 for the inspection 7. Perform integrated internal audit function
period July 1, 2020 - June 30, 2023, with the conclusion of
“generally conform” and reported by BCA to OJK in August The Integrated Internal Audit function is carried out by DAI
2023. in accordance to OJK Regulation No. 18/POJK.03/2014
regarding the Implementation of Integrated Governance
Auditor Ethics and Professionalism for Financial Conglomerates. The implementation of an
In carrying out their duties and responsibilities, internal integrated internal audit includes but not limited to:
auditors are required to behave professionally and comply • Monitoring the implementation of the Subsidiary’s
with established ethical standards. The standard auditor internal audit function and provide recommendations
code of ethics refers to the International Professional that added value.
Practices Framework (IPPF) - The Institute of Internal • Conducting audit of Subsidiaries.
Auditors (IIA), which consists of: • Supporting the development of the Subsidiaries'
internal audit function.
1. Demonstrate Integrity
Internal auditors demonstrate integrity in their work Every semester, the integrated internal audit report
and conduct is submitted to the Board of Commissioners, Audit
Committee, and the Board of Directors, and DAI attends
2. Maintain Objectivity every meeting of the Integrated Governance Committee.
Internal auditors maintain an impartial and unbiased
attitude when performing internal audit services and Auditor Composition and Competency
making decisions. Development
In carrying out its functions, Internal Audit is supported by
3. Demonstrate Competency competent and qualified human resources.
Internal auditors apply knowledge, skills, and abilities
to fulfill their roles and responsibilities well. The following is the composition of BCA’s Internal Auditors
as of December 31, 2024:
4. Exercise Due Professional Care Position Number of Auditor
Internal auditors apply professional care in planning Executive Vice President 1
and carrying out internal audit services.
Senior Vice President 5
5. Maintain Confidentiality Vice President 17
Internal auditors use and protect information Assistant Vice President 33
appropriately. Audit Officer 39
Associate Audit Officer 34
In order to maintain stakeholders' trust, every internal
auditor is required to make a statement of compliance with Assistant Audit Officer 81
the auditor’s ethics and professionalism. Staff 1
Total 211
428 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Internal auditors from BCA have been included in a variety 1. The quality of credit and restructuring.
of professional certification programs, with the following 2. Reliability of main applications that support bank
certifications held as of December 31, 2024: operations, such as systems for treasury, trade finance
Certification Total*) and bookkeeping activities.
3. System Development Life Cycle (SDLC).
SMR Qualification Level 4 9
4. Procurement processes related to Information
SMR Qualification Level 5 43 Technology.
SMR Qualification Level 6 3 5. Online account opening process.
CBIA level Auditor 53 6. Implementation of Anti-Money Laundering,
Prevention of Terrorism Financing, and Funding for the
CBIA level Supervisor 61
Proliferation of Weapons of Mass Destruction (AML,
CISA (Certified Information Security 5
PTF, and PPSPM).
Auditor)
7. Treasury.
CFE (Certified Fraud Examiner) 3
8. Increase audit coverage through continuous auditing
ERMCP (Enterprise Risk Management 5 and data analytics and develop predictive analytic
Certified Professional) tools/machine learning as Early Warning Systems
ERMAP (Enterprise Risk Management 2 (EWS) to detect potential errors/fraud.
Associate Professional) 9. Improve the integrated internal audit function through
CGI (Certificate in General Insurance) 4 assurance, monitoring, and consultation/support
CLI (Certificate in Life Insurance) 1 processes provided to Subsidiary Companies.
10. Continue to develop auditor professionalism on an
CA (Chartered Accountant) 2
ongoing basis.
Computer Hacking Forensic Investigator 2
(CHFI)
During 2024, DAI has held meetings with the President
Offensive Security Certified Professional 1
Director 8 (eight) times, meetings with the Audit
(OSCP)
Committee 6 (six) times, and meetings with the Board of
COBIT 2019 Fondation Certificate 2
Commissioners 2 (two) times.
*) 1 auditor can have more than 1 certification
Internal Audit Division Advisory Activities in 2024
DAI conducts periodic skills assessments to identify and During 2024, DAI carried out advisory activities related
map the competencies required by auditors, and the results to governance processes, risk management, and internal
are used as a foundation for continuously developing control, which include various aspects such as conducting
auditor competencies (including meeting the needs of independent reviews, post-implementation reviews,
specialist auditors). Continuous competency development facilitating discussions regarding risks and controls, etc.
is carried out through both internal and external training.
Internal auditors are also given the opportunity to In advisory activities, audit provides advice without
attend seminars to learn about business developments, providing assurance or taking management responsibility
information technology, and audit techniques. to maintain objectivity.
DAI also includes internal auditors from various audit- Focus of Audit Activities in 2025
related professional associations, such as the Institute of The focus of the audit examination in 2025 is in accordance
Internal Auditors (IIA) - Indonesia, the Association of Fraud with the results of the risk assessment, especially related to
Examiners (ACFE), the Information Systems Audit and credit, operational, market risk, and liquidity risk, including:
Control Association (ISACA), the Bank Internal Auditors 1. Treasury activities.
Association (IAIB), and the Indonesian Accountants 2. Complaint handling process and EDC operations.
Association (IAI). 3. Reliability of applications that support bank operations,
such as Mobile Banking & Credit Card applications.
Implementation of Internal Audit Division Duties in 4. Information Security and Cyber Resilience and
2024 Personal Data Protection.
In 2024, DAI carried out audits of Branch Offices, Regional 5. Conducting credit quality reviews and credit rescue.
Offices, Head Office Divisions/Work Units, and Subsidiary 6. Implementation of Risk Management.
Companies as well as business processes, in accordance 7. Increased audit coverage through continuous auditing
with the Annual Audit Plan, which is determined based and data analytics.
on the results of risk assessments that are carried out 8. Improving the integrated internal audit function.
periodically by considering various current risk factors. The
focus of audit implementation in 2024 includes:
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
PUBLIC ACCOUNTANT (EXTERNAL 6. BCA reports on the appointment of a PA and/or PAF for
AUDIT) an audit of annual historical financial information by
using the form contained in the attachment to the OJK
In order to fulfill the implementation of the external audit Circular Letter No. 18/SEOJK.03/2023, concerning
function in accordance with OJK Regulation No. 9 of 2023, Procedures for Using PA and PAF Services in Financial
concerning the Use of Public Accountant Services and Services Activities.
Public Accounting Firms in Financial Services Activities and a. Appointment documents for PA and/or PAF
OJK Circular Letter No. 18/SEOJK.03/2023, concerning including the Summary of Minutes of the General
Procedures for Using the Services of Public Accountants Meeting of Shareholders or Minutes of the
and Public Accounting Firms in Financial Services Activities, General Meeting of Shareholders, as well as the
therefore: Work Agreement between BCA and PAF.
b. The Audit Committee's recommendations
1. BCA uses the services of a Public Accountant (PA) and/ and considerations to be weighed when
or a Public Accountant Firm (PAF) to carry out an annual recommending the appointment of a PA and/or
audit of historical financial information based on a PAF.
cooperation agreement with the PAF, which states the Results of AP's assessment of compliance with
scope of the audit. audit service restrictions and the applicable
2. The appointed PA and/or PAF is a PA and/or PAF that is cooling-off period.
actively registered with the OJK and has competence
in accordance with the complexity of the BCA’s The Annual GMS on March 14, 2024, decided on
business. the following matters by considering the Board of
3. The use of audit services from the same AP is limited to Commissioners’ proposals, taking the recommendations of
a maximum audit period of 7 (seven) cumulative years the Audit Committee and applicable laws and regulations
starting from the 2017 financial year. BCA can reuse into consideration:
annual historical financial information audit services I. Appointed KAP Rintis, Jumadi, Rianto & Rekan
from the same PA after a cooling off period of 5 (five) (previously known as KAP Tanudiredja, Wibisana,
consecutive financial reporting. Rintis & Rekan) - a member firm of the PwC global
4. The appointment of PA and/or PAF to provide audit network, as a PAF registered in OJK to audit/examine
services on annual historical financial information must BCA’s books and records for the financial year ending
be determined by the GMS, who will consider the Board December 31, 2024.
of Commissioners' recommendations. The proposal II. Appointed Mrs. Lucy Luciana Suhenda who is a PA
must consider the Audit Committee's suggestions. If and affiliated with KAP Rintis, Jumadi, Rianto & Rekan
the GMS is unable to decide on the appointment, it (previously known as KAP Tanudiredja, Wibisana, Rintis
may delegate the intended authority to the Board of & Rekan) - a member firm of the PwC global network
Commissioners, together with an explanation of the and is a PA registered in OJK, to audit/examine BCA’s
reasons for the delegation of authority and the criteria books and records for the financial year ending on
or constraints for PA/PAF who may be appointed. December 31, 2024.
5. In preparing the recommendations, the Audit III. Granting power and authority to the Board of
Committee may consider the: Commissioners to:
a. Independence of PA, PAF, and PAF Insiders; a. Appoint a replacement PAF, in the event that KAP
b. Audit scope; Rintis, Jumadi, Rianto & Rekan (previously known
c. Audit service fees; as KAP Tanudiredja, Wibisana, Rintis & Rekan) - a
d. Expertise and experience of PA, PAF, and the member firm of the PwC global network is for any
Audit Team from the PAF; reason unable to complete the audit/examination
e. The audit methodology, techniques, and tools of BCA’s books and records for the financial year
used by the PAF; ending December 31, 2024;
f. The benefits of fresh perspective that will be b. Appoint a replacement PA who is affiliated
obtained through the replacement of the PA, PAF, with KAP Rintis, Jumadi, Rianto & Rekan
and the Audit Team from the PAF; (previously known as KAP Tanudiredja, Wibisana,
g. The potential risk of using audit services by the Rintis & Rekan) - a member firm of the PwC global
same PAF consecutively for a long period of time; network, in the event that Mrs. Lucy Luciana
and/or Suhenda, for any reason, is unable to complete the
h. Results of the evaluation of the implementation audit/examination of BCA’s books and records
of the provision of audit services on annual for the financial year ending on December 31,
historical financial information by PA and PAF in 2024; and
the previous period. c. Perform any other necessary tasks in connection
with the appointment and/or replacement of a
430 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
PAF and/or PA registered in OJK, including but not Engagement Letter No. EL202412130004/MJW/MJW
limited to determining the amount of honorarium dated 13 December 2024, related to the replacement of
and other conditions in connection with the Public Accountant who will audit/examine BCA's books
appointment of the PAF and PA registered in OJK. and records for the financial year ending on 31 December
2024, from Mrs. Lucy Luciana Suhenda to Mr. M. Jusuf
PA Name Wibisana who is a Public Accountant and a member of PwC
Lucy Luciana Suhenda Indonesia.
PAF Name PA Name
KAP Rintis, Jumadi, Rianto & Rekan (Formerly KAP M. Jusuf Wibisana
Tanudiredja, Wibisana, Rintis & Rekan),
a member firm of the PwC global network PAF Name
WTC 3, Jl. Jend. Sudirman Kav. 29-31, Jakarta 12920, KAP Rintis, Jumadi, Rianto & Rekan
Indonesia a member firm of PwC global network
Tel. (62-21) 5099 2901, 3119 2901 WTC 3, Jl. Jend. Sudirman Kav. 29-31, Jakarta 12920,
Fax. (62-21) 5290 5555, 5290 5050 Indonesia
Tel. (62-21) 5099 2901, 3119 2901
Assignment Period Fax. (62-21) 5290 5555, 5290 5050
January 1, 2024-December 31, 2024
Assignment Period
As of May 16, 2024, KAP Tanudiredja, Wibisana, Rintis January 1, 2024-December 31, 2024
& Partners, a member firm of the PwC global network,
changed its name to KAP Rintis, Jumadi, Rianto & Rekan, In 2024, the appointment of AP M. Jusuf Wibisana is the
a member firm of the PwC global network (hereinafter 1st assignment, and PwC Indonesia, is for the 8th term
referred to as "PwC Indonesia"). In connection with this, assignment.
BCA has carried out an Information Disclosure on the
Change of Name of the Public Accounting Firm on June For the replacement of the public accountant who will
10, 2024 on Company's website www.bca.co.id and IDX audit/review the books and records of BCA for the
website www.idx.co.id. financial year ending December 31, 2024 from Ms. Lucy
Luciana Suhenda to Mr. M. Jusuf Wibisana, BCA has
In 2024, the appointment of AP Lucy Luciana Suhenda is submitted a report to OJK by Board of Directors Letter
the 5th-year assignment, and PwC Indonesia, is for the 8th No.1638/DIR/2024 dated December 20, 2024. This is in
term assignment. accordance with the provisions of OJK Regulation No.9 of
2023 concerning the Use of Public Accountant Services
In 2024, there were no former members of the Board and Public Accounting Firms in Financial Services Activities
of Directors, managerial staff, or BCA employees who and OJK Circular Letter No.18/SEOJK.03/2023 concerning
became BCA external auditors. the Procedures for the Use of Public Accountant Services
and Public Accounting Firms in Financial Services
Regarding the appointment of PwC Indonesia, BCA has Activities. In order to comply with the provisions of Article
submitted a report to the OJK via the Board of Directors' 2 paragraph (1) jo. Article 6 letter q of the OJK Regulation
Letter No.0894/DIR/2024 dated July 24, 2024. This No. 31/POJK.04/2015 regarding Disclosure of Material
is in accordance with the provisions stipulated in OJK Information or Facts by Issuers or Public Companies and
Regulation No. 9 of 2023 concerning the Use of Public provision III.2.1.1 of the Annex to the Decree of the Board
Accounting Services and Public Accounting Firms in of Directors of Indonesia Stock Exchange No. Kep-00066/
Financial Services Activities and OJK Circular Letter BEI/09-2022 regarding the Amendments to Regulation
No.18/SEOJK.03/2023 concerning Procedures for Using No. I-E regarding Obligation to Submit Information, BCA
Public Accounting Services and Public Accounting Firms in has also published information on December 13 regarding
Financial Services Activities. the replacement of Public Accountants who are assigned
to audit the Issuer or Public Company. The information is
BCA has received a letter from PwC Indonesia No. available on the BCA's website in the Investor News section
OL202412110014/LLS/LLS dated 11 December 2024 through the link https://www.bca.co.id/en/tentang-bca/
in connection with the proposal to replace the Public hubungan-investor/berita-investor (non-material issue).
Accountant who will audit/examine BCA's books and
records for the financial year of 2024. In response Every year BCA submits an annual published report
to the letter, BCA has signed an amendment to the accompanied by a Comment Letter (Management Letter)
Engagement Letter between Public Accountant Firm on the annual financial statement audit to the OJK no later
Rintis, Jumadi, Rianto & Rekan and PT Bank Central Asia than 4 (four) months after the end of the financial year.
Tbk no. EL202407150002/LLS/LLS dated 15 July 2024.
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1. Effectiveness of External Audit Implementation of BCA using the form contained in the attachment
The Audit Committee evaluates the implementation to OJK Circular Letter No.18/SEOJK.03/2023,
of the provision of audit services on annual historical concerning Procedures for Using the Services of
financial information by the PA and/or PAF which at Public Accountants and Public Accounting Firms in
the minimum includes: Financial Services Activities and signed by the Audit
a. Conformity of audit implementation by PA and/or Committee on February 7, 2024.
PAF with applicable audit standards;
b. Adequacy of field work time; 2. Relationship Between Banks, Public
c. Assessment of the scope of services provided Accountants, and the Financial Services
and the adequacy of sampling test; and Authority
d. Recommendations for improvements provided To ensure that the audit process goes smoothly
by the PA and/or PAF. BCA keeps external auditors informed on audit
implementation plans, audit progress, and other
The report on the evaluation results of the Audit significant issues during audits. OJK receives the audit
Committee was submitted by the Board of Directors results report in compliance with relevant rules and
regulations.
3. 2024 Audit Fees
PwC Indonesia, was appointed as the auditor of BCA and certain of its Subsidiaries to audit the financial statements for
the year ending December 31, 2024, with details of fees charged to each Subsidiary as shown in the table below:
No. Company Services Performed in 2024 Service fee1)
1 PT Bank Central Asia Tbk Audit Rp8,884,026,000.00
2 PT BCA Finance Audit Rp1,500,000,000.00
3 PT Asuransi Umum BCA Audit Rp730,000,000.00
4 PT BCA Sekuritas Audit Rp500,000,000.00
AUP Reconsiliation of Securities Ledger 2) Rp50,000,000.00
NAAE MKBD 2)
Rp65,000,000.00
5 PT Bank Digital BCA Comfort Memo ECL Rp130,000,000.00
Notes:
1)
Does not include VAT.
2)
Included in audit fees
Based on the disclosure provisions of IESBA (International Ethics Standards Board for Accountants)
4. Services provided by PAF/PA other than Audit
In 2024, PwC Indonesia also provided the following services other than audit to BCA:
No. Services Performed in 2024 Service fee1)
1 AUP (Agreed Upon Procedures) Custodian 2) Rp50,000,000.00
2 AUP VoNB Sharing for AIA (AUP for AIA, BCA as the informed party) Rp174,915,520.00
Notes:
1)
Does not include VAT.
2)
Included in audit fees
5. Historical PAF and PA that conducted the audit
Information regarding the PAF and PA that performed audit services for BCA since 2017 is as follows:
Tahun PAF PA
2024 KAP Rintis, Jumadi, Rianto & Rekan (member firm of PwC global network, M. Jusuf Wibisana
formerly KAP Tanudiredja, Wibisana, Rintis & Rekan)
2023 Lucy Luciana Suhenda
2022 Jimmy Pangestu
2021 Jimmy Pangestu
2020 Jimmy Pangestu
2019 Lucy Luciana Suhenda
2018 Lucy Luciana Suhenda
2017 Lucy Luciana Suhenda
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COMPLIANCE FUNCTION
In order to carry out its compliance functions as regulated under OJK Regulation No. 46/POJK.03/2017 on the Implementation
of Commercial Bank Compliance Functions, BCA formed a Compliance Division (DCP) as an autonomous work unit free of
influence from other work units. Furthermore, BCA, as the Main Entity in the BCA Financial Conglomeration, has broadened
the DCP organizational structure to include an Integrated Compliance Function to implement Integrated Governance for
the Financial Conglomeration.
1. Organizational Structure of DCP
The DCP organizational structure is established in the Board of Directors’ Decree No. 247/SK/DIR/2022, dated
December 28, 2022. The DCP is led by the Head of the Compliance Division, whose appointment was reported to the
OJK. The DCP reports directly to the Director of Compliance. The designation and appointment of the Compliance
Director have met the requirements required and are being carried out in accordance with OJK regulations.
GENERAL MEETING OF SHAREHOLDER
(GMS)
BOARD OF COMMISSIONERS BOARD OF DIRECTORS
OTHER DIRECTORS DIRECTOR OF COMPLIANCE
Other Head Office Compliance
Regional Office Division
Work Unit
2. DCP Responsibilities Governance for Financial Conglomerates. The primary
The DCP’s responsibilities are as follows: responsibility of the DCP’s integrated compliance
• Monitor BCA’s level of compliance with OJK, BI, function is to monitor and evaluate the compliance
PPATK, and other regulators’ requirements. This function’s implementation and level of compliance
includes ensuring that BCA’s policies, regulations, at each Financial Services Institution (FSI) in the BCA
systems, and procedures, as well as business Financial Conglomerate, including the implementation
activities, comply with regulatory requirements. of the AML, CTF, and PFPWMD programs.
• Coordinating the Implementation of Anti-Money
Laundering, Counter-Terrorism Financing, and To ensure the implementation of BCA’s compliance
Prevention of Financing for the Proliferation of role, the Board of Directors and Board of
Weapons of Mass Destruction (AML, CTF, and Commissioners have exercised active oversight,
PFPWMD) Programs, including conducting risk including policy and procedure approval, periodic
assessments for implementing the AML, CTF, reporting, requests for explanations, and meetings.
and PFPWMD programs in accordance with the
regulator’s provisions. 4. Implementation of Compliance Function Work
• Carry out the Gratification control function within in 2024
BCA. In 2024, DCP carried out the following functions:
a. Promote the development of a compliance
3. Integrated Compliance Function culture.
BCA, as the Main Entity in the BCA Financial • Communicate and inform the Board of
Conglomeration, has also added an integrated Directors, Board of Commissioners, and
compliance function to the DCP organizational work units on new regulations issued by
structure to implement Integrated Governance regulators.
in accordance with OJK Regulation No. 18/
POJK.03/2014 on the Implementation of Integrated
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• Provide information regarding OJK, BI, - Maximum Legal Lending Limit;
PPATK and other laws and regulations on the - Non-Performing Loans (NPL);
BCA portal site for work units to access. - Macroprudential Intermediation Ratio;
• Involve DCP’s human resources in a variety of - Liquidity Coverage Ratio (LCR);
trainings, regulatory socialization seminars - Net Stable Funding Ratio (NSFR);
from regulators, and risk management - Macroprudential Inclusive Financing
certification, as well as actively participating Ratio (RPIM).
in the Banking Compliance Director • Monitoring the imposition of sanctions/fines
Communication Forum working group from regulators.
(FKDKP). • Conduct compliance risk assessments and
• Provide suggestions/responses to questions prepare Compliance Risk Profile Reports
from work units or branches in order to quarterly to manage compliance risks.
perform consultative functions about the • Prepare quarterly compliance monitoring
implementation of applicable regulations. reports for the Board of Directors and the
Board of Commissioners.
b. Ensure that BCA’s policies, provisions, systems, • Coordinate with work units within the
and procedures, as well as its business operations, framework of risk-based Bank Health Level
are in accordance with the provisions, including: assessments.
• Identify potential sources of compliance • Implement BCA Governance and
risk. Integrated Governance in the BCA Financial
• Conduct gap analysis, assess the impact Conglomeration in collaboration with the
of new provisions on BCA operations, and Environment Sustainability Governance
propose for adjustment to internal manuals, Group.
policies, and procedures. • Utilize information technology, also known
• Create a Compliance Matrix Diary as a as Regulatory Technology (RegTech), to
monitoring tool to verify compliance with increase efficiency and effectiveness in the
regulatory reporting requirements. process of managing regulatory regulations,
• Conduct reviews and provide opinions as well as to maintain an up-to-date
to ensure compliance with applicable regulatory regulations database.
regulatory provisions regarding:
- New product and activity plans; c. Ensure BCA’s compliance with regulatory
- Draft internal regulations to be commitments, including:
published; • Monitor BCA’s commitment to OJK, BI, and
- Compliance with corporate credit other regulators in collaboration with DAI.
releases; and • Monitor and follow up on information/
- Documents in the context of capital data requests from the OJK, BI, and other
investment plans. regulators in the context of bank supervision.
• In collaboration with Branch Internal
Supervisors and Regional Office Internal d. Perform gratification control functions such as:
Supervisors, conduct compliance tests on • Create policies and procedures for
the implementation of provisions at Branch gratification control.
Offices and Regional Offices. • Coordinate socialization activities to all
• Monitor the level of compliance with BCA Personnel and stakeholders regarding
applicable regulatory provisions relating to Gratification control provisions.
prudential banking principles, specifically: • Receive and administer BCA Personnel
- Minimum Capital Adequacy Gratification reports.
Requirement; • Report to the Board of Directors on the
- Minimum Statutory Reserve; implementation of Gratification control on a
- Macroprudential Liquidity Buffer; regular basis, at least once a year.
- Net Open Position;
The Anti-Corruption and Bribery Policy is
explained in page 455 of this year's report.
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e. Monitor and evaluate the compliance function both in an integrated manner and at each Subsidiary Company
within the BCA Financial Conglomeration, including:
• Create and submit Integrated Compliance Reports to the Board of Directors and the Board of Commissioners.
• Coordinate with work units in the context of risk-based assessment of the Consolidated Bank’s Health Level.
• Conduct reviews and provide opinions to ensure that BCA’s Collaboration Synergy plans with Subsidiary
Companies are following regulatory requirements.
• Coordinate with the Subsidiary Company’s Compliance PIC in the context of preparing an Integrated
Compliance Risk Profile each semester.
• Communicate with Subsidiary Companies in the context of implementing the compliance function.
5. 2024 Compliance Indicators
The following compliance indicators for 2024 represent BCA’s commitment to, and level of compliance with, applicable
laws and regulations:
Table of Compliance Indicators for 2024
No. Compliance Indicator Applicable Provisions BCA Achievement Description
1 Minimum Capital Adequacy Min. 14% up to <15% 29.36% Complied with the
Requirement (KPPM) applicable provisions
2 Non-Performing Loan (NPL) Net Max. 5% 0.59%
3 Maximum of Legal Lending Limit (BMPK) Max. 10% of total capital 4.04%
4 Minimum Statutory Reserve (GWM) Rupiah Min. 5% 5.76%
5 Macroprudential Liquidity Buffer (PLM) Min. 5% 30.56%
6 Minimum Statutory Reserve (GWM) Foreign Min. 4% 4.22%
Currency
7 Net Open Position (PDN) Max. 20% 0.27%
8 Liquidity Coverage Ratio (LCR) Min. 100% 323.01%
9 Macroprudential Intermediation Ratio (RIM) 84% - 94% 80.48%*) In accordance with
RIM’s description
below
10 RIM Current Account Min. according to the 0.72% In accordance with
provisions RIM’s description
below
11 Net Stable Funding Ratio (NSFR) Min. 100% 155.85% Complied with the
applicable provisions
12 Macroprudential Inclusive Financing Ratio Min. 21.5% 21.51%
(RPIM)
Note:
*) BCA's Macroprudential Intermediation Ratio (RIM) from October to December 2024 is lower than the lower limit of RIM target set by BI at 84% in PADG No.
22/11/PADG/2020 dated April 29, 2020 on Amendments to PADG No. 21./22/PADG/2019 on Macroprudential Intermediation Ratio and Macroprudential
Liquidity Buffer for Conventional Commercial Banks, Sharia Commercial Banks and Sharia Business Units, therefore BCA is required to establish a RIM
Reserve in Rupiah equal to the calculation between the lower limit of RIM and the difference between BCA's RIM and Target RIM against Rupiah deposits.
Based on PADG No. 23/7/PADG/2021 dated April 26, 2021 concerning the Third Amendment to PADG No. 21/22/PADG/2019 concerning Intermediation Ratios
and Macroprudential Liquidity Buffers for Conventional Commercial Banks, Sharia Commercial Banks and Sharia Business Units, there is a Lower Disincentive
Parameter related to RIM compliance, which is that since January 2022, the Lower Disincentive Parameter for Banks with RIM conditions < 84 %, NPL < 5% and
Minimum Capital Requirement > 19% are set at 0.15.
6. Anti-Money Laundering, Counter-Terrorism Terrorism Financing, and Prevention of Funding for the
Financing, and Prevention of Financing for the Proliferation of Weapons of Mass Destruction in the
Proliferation of Weapons of Mass Destruction Financial Services Sector. During 2024, the following
(AML, CTF, and PFPWMD) Programs activities were carried out in connection with the
BCA is committed to implementing Anti-Money implementation of the AML, CTF, and PFPWMD
Laundering, Counter-Terrorism Financing and programs:
Prevention of Financing for the Proliferation of • Provide periodic reports to the Board of
Weapons of Mass Destruction (AML, CTF, and Directors and Board of Commissioners on the
PFPWMD) programs in accordance with OJK implementation of the AML, CTF, and PFPWMD.
Regulation No. 8 of 2023 concerning Implementation
of Anti-Money Laundering Programs, Prevention of
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• Monitoring suspicious financial transactions • Ongoingly increase understanding of AML, CTF,
with a web-based application called STIM and PFPWMD by holding training and socialization
(Suspicious Transaction Identification Model), as through classroom training, online training,
well as developing and improving the application e-learning, and virtual/hybrid events, as well as
system with the latest technology and updating internal forums such as Regional Coordination
parameters to detect suspicious transactions. Meetings and Coordination Meetings of Heads
• Coordinate the implementation of updating of Branch Operations and Service Operations
customer data by setting targets and monitoring Forum.
their achievement. • Developing training materials for the
• Reviewing new product and activity plans to Implementation of AML, CTF, and PFPWMD.
ensure compliance with the AML, CTF, and • Review and provide feedback on new product
PFPWMD provisions. and activity plans, as well as draft internal
• Screening customer and transaction data against regulations to be issued, to ensure compliance
watchlists published by competent authorities, with applicable AML, CTF, and PFPWMD
such as the List of Suspected Terrorists and provisions.
Terrorist Organizations (DTTOT), List of Financing • Participate in activities organized by the
for the Proliferation of Weapons of Mass regulator, including:
Destruction, The Office of Foreign Assets Control a. Implementation of PPATK’s Financial
(OFAC) List, United Nations (UN) List, and European Integrity Rating (FIR).
Union (EU) List, when opening an account and b. Implementation of Focus Group Discussions
when the watchlist list changes. related to the National Consultation
• Identify and assess risks associated with the c. Hold a meeting on the Collecting and
implementation of APU, PPT, and PFPWMD using Integrating Initial Data PPP Project regarding
a risk-based approach, considering customer, Investment Fraud.
country or geographic area, product and service, d. Implementation of Focus Group Discussions
and distribution network factors. related to the Onsite Visit of the Second
• In collaboration with Branch Internal Supervisors, Round of AEOI
conduct compliance tests on the implementation
of AML, CTF, and PFPWMD at Branch Offices.
• Reporting suspicious financial transactions, cash
financial transactions, and financial transactions
transferring funds to and from abroad, as well
as submitting data to the Financial Transaction
Reporting and Analysis Center (PPATK) via the
Integrated Service User Information System
(SIPESAT) and the Information System for
Suspected Terrorism Financing (SIPENDAR).
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RISK MANAGEMENT SYSTEM
BCA has an effective risk management system and internal control system that are tailored to BCA’s objectives, business
policies, size, and complexity of business activities. The Board of Commissioners and the Board of Directors of BCA is in
charge of implementing risk management and internal control systems at BCA and its subsidiaries integratedly.
BCA follows regulatory requirements and refers to international best practices when implementing risk management.
Risk Management Organizational Structure
RISK
MANAGEMENT
OPERATIONAL CREDIT MARKET ENTERPRISE BUSINESS CONTINUITY & CYBER SECURITY
RISK MANAGEMENT RISK MANAGEMENT RISK MANAGEMENT RISK MANAGEMENT CRISIS MANAGEMENT RISK MANAGEMENT
Risk Management System Overview
BCA has implemented an integrated Risk Management System Framework to manage risk. This framework is used as a tool
to establish strategy, organization, policies and procedures, as well as risk management infrastructure, in order to ensure
that all risks encountered by BCA can be identified, measured, monitored, controlled, and reported correctly.
Risk Management System Framework
GMS
BOARD OF DIRECTORS BOARD OF COMMISSIONERS
Integrated Risk
Risk Management Director of Risk Management Internal Auditor
Governance Oversight
Committee (Integrated) (Integrated)
Committee Committee
Integrated Risk
Scope of implementation Integrated Corporate-Wide Risk
Management Committee
Risk Management referring to Management
regulatory regulations including but not
limited on: • Risk Management
(Integrated)
- OJK Regulation No. 18 POJK.03/2016 • Compliance
- OJK Regulation No. 17/POJK.03/2014 (Integrated)
- OJK Regulation No. 18/POJK.03/2014 • Governance
(Integrated) Basic Policy
- OJK Regulation No. 45/
Guide
POJK.03/2020 • Capital
(Integrated)
Subsidiaries
- OJK Circular Letter No. 14/ Monitoring
SEOJK.03/2015
- OJK Circular Letter No. 34/ • Risk Management
SEOJK.03/2016 Division
• Corporate
Strategy &
Planning Division
• Environment Report
Sustainability
Governance Group
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The framework for BCA’s and integrated risk management c. Other committees tasked with handling
implementation describes a risk management framework specific risks, among others, the Credit
and process that have interrelationships and reciprocal Policy Committee (CPC), Credit Committee
relationships, both between the Board of Commissioners, (CC), Information Technology Steering
the Board of Directors, Supporting Committees under the Committee (ITSC), and the Asset Liability
Board of Commissioners and the Board of Directors, and Committee (ALCO).
between Divisions as well as Subsidiaries. 3. Risk Management Division (MRK) is established
to ensure that BCA and its Subsidiaries carry
The implementation of BCA risk management includes: out integrated risk mitigation properly through
• Active supervision by the Board of Commissioners identification, measurement, monitoring,
and the Board of Directors. control, and reporting in accordance with the
In carrying out active supervision, the Board of risk management framework and are able to
Commissioners and Board of Directors is accountable deal with emergency situations that threaten
for the effectiveness of risk management BCA’s business continuity. MRK’s authorities and
implementation, ensuring that risk management responsibilities include:
implementation is adequate in accordance with BCA’s a. Carry out authority and responsibility
characteristics, complexity, and risk profile, and in accordance with OJK Regulation
properly understanding the types and levels of risk No. 18/POJK.03/2016, concerning the
attached to BCA’s business activities. Implementation of Risk Management for
1. Oversight by the Board of Commissioners is Commercial Banks, including:
assisted by the Risk Oversight Committee (ROC), • Provide input to the Board of Directors
whose function is as follows: and/or Committees under the
a. Provide independent professional coordination of the Board of Directors
recommendations and opinions regarding and/or Board of Commissioners
the conformity of policies and the in the context of preparing and
implementation of risk management policies improving policies, strategies, and risk
to the Board of Commissioners. management frameworks.
b. Monitor and evaluate the implementation of • Develop procedures and tools for
the duties of the Risk Mangement Committee identifying, measuring, monitoring,
(RMC) and Risk Management Division (MRK). and controlling risks, including cyber
2. Oversight by the Board of Directors is assisted by: security risks.
a. RMC, which has the main task of providing • Identify, measure, monitor, control and
recommendations to the Board of Director, report all risks arising from the bank's
which at least includes the following: business activities in accordance with
• Formulate policies, strategies, and the risk appetite.
guidelines for implementing risk • Review and provide recommendations
management. on strategy, organization, business
• Refine the implementation of risk plans/new products, policies,
management based on the results provisions, guidelines, methodology,
of evaluating the implementation of and infrastructure in accordance with
effective risk management process and risk management implementation
system. guidelines.
• Determine matters related to business • Review the accuracy of the risk
decisions that deviate from normal assessment methodology, the
procedures (irregularities). adequacy of risk mitigation, the
b. Integrated Risk Management Committee implementation of the risk management
(IRMC) has the main task of providing information system, and the accuracy
recommendations to the Board of Directors of policies, procedures, and limit
which at least include: determination.
• Formulate integrated risk management • Design and review company policies
policies. relating to the continuity of business
• Improve or refine the integrated activities, crisis management,
risk management policies based on employee safety and health in normal
the results of the implementation and emergency/crisis conditions, as
evaluation. well as ensuring the company's ability
to deal with emergency situations
and crisis conditions that threaten the
continuity of business activities.
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• Develop strategies, manage, and 2. Develop a management information system
monitor cyber resilience testing to that is tailored to the characteristics, activities,
determine the impact of implementing and complexity of business operations. The risk
cybersecurity risk management policies management information system is reviewed on
and strategies on the bank's overall risk a regular basis in accordance with BCA’s needs
profile. and regulatory requirements.
b. Carry out integrated risk management authority 3. Prepares and submits a Risk Profile Report
and responsibility in accordance with OJK quarterly, and an Integrated Risk Profile Report
Regulation concerning the Implementation semesterly.
of Integrated Risk Management as one of the
functions of MRK and coordinating with work • Comprehensive Internal Control System
units in each Subsidiary Company that carry out The complete implementation of the internal
Risk Management functions. control system to support BCA’s risk management
implementation is presented on page 445 under the
• Adequacy of Risk Management Policies and Internal Control System section of this Annual Report
Procedures, as well as Risk Limit Determination
1. Perform risk management and ensure the Types of Risk and Its Management
availability of policies and determination of risk Refering to OJK Regulation No. 18/POJK.03/2016,
limits, which are supported by procedures, concerning the Implementation of Risk Management for
reports, and information systems that provide Commercial Banks, BCA manages 8 (eight) types of risk, and
management with accurate and timely in accordance with OJK Regulation No. 17/POJK.03/2014,
information and analysis, including determining concerning the Implementation of Integrated Risk
steps to deal with significant changes in market Management for Financial Conglomerates, BCA as the
conditions. Main Entity of the BCA Financial Conglomeration (BCA FC)
2. Ensure that operational and business aspects, as must manage an additional 2 (two) types of risk, namely:
well as the level of risk that may occur in a work
unit, have been considered in the process of 1. Credit Risk
developing work systems and procedures. • Credit organization is improved continuously by
3. In accordance with regulatory provisions, BCA referring to the four eyes principle in which credit
has a Basic Risk Management Policy (KDMR) decisions are taken based on considerations from
and a Basic Integrated Risk Management Policy two sides, namely the business development side
(KDMRT) of the BCA Financial Conglomerate (BCA and the credit risk analysis side.
FC), which include, among other things: • BCA reviews internal credit provisions to ensure
a. Risk management implementation that they are in line with BCA developments,
framework for each type of risk. regulatory requirements, prudential banking
b. Risk management implementation report. principles, and international best practices.
c. Implementation of consolidated risk • Develop and refine:
management. - Credit risk management procedures and
d. Implementation of integrated risk systems via the “Loan Origination System”
management. to improve the effectiveness and efficiency
4. Regularly review and update policies, procedures of the credit granting process.
and risk management framework in accordance - Debtor risk profile measurement system.
with BCA’s needs and regulatory requirements. - Credit database.
• In order to maintain credit quality in line with risk
• Adequacy of Risk Identification, Measurement, appetite, BCA has:
Monitoring, and Control Processes, as well as Risk - Regularly monitored credit quality, both per
Management Information Systems credit category (Corporate, Commercial,
1. Have adequate risk identification, measurement, Small and Medium Enterprise (SME),
monitoring, and control procedures in place, Consumer, and Credit Card), per industrial
as well as a risk management information sector, and overall credit portfolio, including
system. Monitoring is carried out by both the restructured credit and problem loans
implementing unit and MRK, and the results are resolution
reported to management on a regular basis in - Conduct close monitoring and authority
order to mitigate risks and take appropriate control over branches with SME/KPR/credit
actions. card loans with a TPF30+ ratio (>30 days in
arrears) and high NPLs so that branches can
focus on improving their credit quality.
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- Determine credit limits and monitor these • ALCO regularly monitors:
limits. - Market developments, movements in
• Conduct regular credit portfolio stress testing reference interest rates and interest rates
analysis and monitoring of the results so that BCA offered by competing banks to determine
can develop appropriate strategies to mitigate deposit and credit interest rates.
these risks as part of the “contingency plan” - Fixed interest loans and banking book
implementation. securities.
• Routinely monitored and controlled credit risk in • Conducts stress testing on a regular basis with
Subsidiary Companies, and ensure that Subsidiary various scenarios, deepening the factors and
companies have good and effective Credit Risk parameters in stress testing.
Management Policies • Calculate the Minimum Capital
• Develop: Adequacy Requirement (MCAR) Reporting using
- Credit monitoring tools such as the Early regulatory-compliant method governed by the
Warning System (EWS) as a forward- OJK Circular Letter No. 23/SEOJK.03/2022
looking loan monitoring system. concerning Calculation of Risk-Weighted Assets
- Credit Scoring System and Credit Quality Risk for Market Risk for Commercial Banks.
Model using Advanced Analytics approach to
support sustainable credit business growth. 3. Liquidity Risk
• Following the regulator's determination of the • BCA places a high priority on maintaining
end of the credit restructuring relaxation policy adequate liquidity in order to meet its obligations
on March 31, 2024, debtors who were previously to customers and other parties, including
granted COVID-19 credit restructuring and still providing credit, repaying customer deposits,
require time for business recovery after the end and meeting operational liquidity needs. The
of the relaxation policy can be granted normal overall liquidity needs management function is
restructuring if they meet the restructuring carried out by ALCO, and the Treasury Division
criteria based on BCA and regulator provisions. operationally.
• Liquidity risk measurement and control is carried
2. Market Risk out through:
• In order to manage foreign exchange rate risk, - Fund progress report.
BCA has set NOP limits per branch and combined, - Monitoring liquidity reserves (secondary
and measurements have been performed using reserves) and liquidity ratios such as the Loan
the Value at Risk (VaR) method with a Historical to Deposit Ratio (LDR), Liquidity Coverage
Simulation approach for internal reporting. Ratio (LCR), and Net Stable Funding Ratio
• Manages trading book portfolios exposed to (NSFR).
interest rate risk by establishing and monitoring - Cash flow projections.
the use of Nominal Limits, Value at Risk Limits - Periodic stress testing to assess the impact
(VAR), and Stop Loss Limits, as well as performing of extreme conditions on BCA’s liquidity. In
valuations based on actual transaction prices addition, BCA has a contingency funding
(close out prices) or quoted market prices from plan in place to deal with these extreme
an independent source. conditions.
• Measures banking book interest rate risk using 2 • Maintains Rupiah and Foreign Currency liquidity
(two) perspectives, namely: (Statutory Minimum Reserve/SMR) in accordance
- Economic Value Perspective, using the with regulatory provisions on a daily and average
Economic Value of Equity (EVE) method, basis for a specific reporting period, which
which is a method that measures the impact consists of:
of interest rate changes on the economic - SMR and MIR Giro (Macroprudential
value of bank equity. Intermediation Ratio) in the form of Rupiah
- Earnings Basis Perspective, using the Accrual current account with Bank Indonesia.
Method, which is a method for calculating - Foreign currency SMR in the form of
the impact of changes in interest rates on a foreign currency current account with Bank
bank’s Net Interest Income (NII). Indonesia.
- MLB (Macroprudential Liquidity Buffer) in the
form of SBI, SDBI, SRBI, and SBN.
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4. Operational Risk • In order to maintain cyber security, BCA has
• The goal of operational risk management is Cyber Security Risk Management, whose job it is
to minimize the potential negative impacts of to analyze, determine, and develop procedures
insufficient and/or non-functioning internal and tools for cyber security risk management.
processes, human error, system failure, and/or Furthermore, BCA has an Information
external events. Operational risk management is Technology Security Group that is responsible
constantly being develop in order to adapt to the for implementing the principles of securing
constantly changing business environment and technology systems and supporting facilities,
minimize the risks that the bank faces. as well as developing preventive measures to
• Refering to the regulatory provisions, BCA uses protect and secure the company’s information
the Standardized Approach method to allocate assets and information technology infrastructure
capital for reserve to losses from operational from various technological crimes (cyber crime).
risks. Good and high-quality operational risk • In order to maintain data privacy, BCA has a
event data is required for calculating the capital Data Protection Officer (DPO)/Personal Data
charge for operational risk in accordance with the Protection Officer whose job is to ensure that
bank’s operational loss exposure. As a result, BCA BCA complies with Law no. 27 of 2022 concerning
has established internal provisions governing the Personal Data Protection. The DPO carries out
input of loss data in order to meet the qualitative this task by ensuring all activities comply with
requirements outlined in OJK Circular Letter No. BCA's internal policies, increasing awareness
6/SEOJK.03/2020, concerning Calculation of of the importance of data security and privacy,
Risk-Weighted Assets for Operational Risk Using monitoring BCA as a controller and processor of
a Standard Approach for Commercial Banks. personal data, acting as BCA's contact person for
• In order to assist in the management of operational issues related to personal data processing, and
risk, BCA has supporting infrastructure in the form conducting regular reviews to ensure BCA always
of the Operational Risk Management Information complies with the PDP Law.
System (ORMIS) application, which includes: • In order to anticipate risks posed by nature or
- Risk Control Self Assessment (RCSA), which human disasters that could disrupt the bank’s
is used as a tool to instill risk management business operations, particularly customer
culture and increase risk awareness across service, BCA has established a Business
all work units. Continuity Management and Business Continuity
- Loss Event Database (LED), which is used Plan (BCP) and regularly conducts BCP awareness
to record operational losses that are used socialization and testing of the BCP, which
in calculating capital charge, continuous includes cyber incident simulation.
monitoring of events that can cause
operational losses for BCA, and analyzing 5. Legal Risk
the risks faced by the bank, allowing for • Carrying out risk measurements and assessments
necessary corrective/preventive actions to based on potential losses from cases occurring
be taken to minimize/mitigate the potential at BCA and Subsidiaries that are currently in
risk of future operational losses. process or have been resolved in court to BCA
- Key risk indicator (KRI), which is a tool used capital and consolidated capital.
to provide an early warning sign of the • In order to mitigate legal risks, the Legal Group
possibility of an increase in operational risk (GHK) has done the following, among other things:
in a work unit. This KRI has also been further - Develop a Legal Risk Management Policy
developed into Predictive Risk Management, - Holding a legal communication forum to
which can help work units monitor risk improve the competency of legal staff.
exposure. - Conduct socialization to related branch
• Carry out a risk assessment process in developing officials, Regional Offices, and Head
new products or activities that will be carried Office work units on the impact of newly
out. In addition, materiality measurements or implemented regulations on BCA banking
assessments are carried out for increases in risk activities and various modus operandi of
exposure from product development or activities banking crimes, as well as guidelines for
that BCA has previously owned. dealing with them legally.
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- Develop a credit security strategy plan in • Infrastructure development, which includes the
conjunction with bad credit problems (in implementation of appropriate software and
collaboration with other work units, including hardware (including Halo BCA Telephone Service
the Credit Recovery Group). and 24-hour WhatsApp/WA Chat, BCA CRM
- Register Intellectual Property Rights (IPR) on Contact Center, Web Chat via www.bca.co.id,
BCA products with the authorized agency and the Halo BCA application that can be used
and secure ownership of BCA assets as well by mobile phones users with IOS and Android
as monitor and take legal action for BCA IPR platforms), as well as the development of a better
violations. procedures and work management to facilitate
• In order to identify, measure, monitor, and control monitoring and management information systems
legal risks, BCA has established a Legal Group that can support organizational quickness and
(GHK) at the Head Office, and Legal Work Units quality.
in all Regional Offices, as well as carrying out, • Monitor and collaborate with related work units in
among other things: handling negative news.
- Preparation of standard agreements to • The implementation of reputation risk
support BCA business activities and review management based on regulatory provisions
of agreements with other parties, including • Regular evaluation of the parameters for assessing
amendments (addendum). and implementing reputation risk management
- Review draft policies or procedures,
especially those related to operational and 7. Strategic Risk
credit law. • Strategic risk measurement and assessment
- Legal review of new products/activities. is carried out by analyzing the suitability of
- Inventorize legal case data and assess legal strategies to business environmental conditions
risk profiles based on historical quantitative and high-risk strategies, as well as measuring
data on cases that have occurred. BCA's business position in the banking industry
- Legal defense and monitoring of case and the achievement of the Bank's Business Plan.
developments in civil and criminal cases • The Board of Commissioners and the Board of
involving BCA and Subsidiary Companies Directors understand the strategic risks that
that are currently in the litigation process; can affect BCA's financial condition. The Board
- Monitoring and analysis of cases related to: of Directors plays an active role in monitoring
> Business activities of BCA and internal conditions and developments in external
Subsidiary Companies, which are factors that influence BCA's business strategy
currently in the process of litigation, directly or indirectly.
with the position of BCA and Subsidiary • Preparation of business plans/strategies also
Companies and/or officials of BCA considers various dynamics of global and
and Subsidiary Companies as plaintiff/ domestic economic and business conditions as
d efe n d a n t / r e p o r t e r / r e s p o n d e n t / well as business conditions by paying attention
suspect/defendant; to risk appetite and risk tolerance. The strategic
> Credit and/or financing problems plan is outlined in a long-term plan in the form of
and human resources at BCA and a Corporate Plan and a medium-short plan in the
Subsidiaries that are currently in the form of a Bank Business Plan (RBB) as a 3 (three)
process of litigation; year business strategy blueprint.
• Have procedures to monitor and measure
6. Reputational Risk company performance through financial control,
• Reputation risk is assessed using parameters which aims to monitor the achievement of
such as the number of complaints and negative business plans and performance periodically.
publications, as well as complaint resolution
achievement.
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8. Compliance Risk • Screens customer and transaction data in
• In accordance with OJK Regulation No. 46/ relation to the List of Suspected Terrorists and
POJK.03/2017, concerning the Implementation Terrorist Organizations (LSTTO) and the List of
of Compliance Functions for Commercial Banks, Financing for the Proliferation of Weapons of
BCA has appointed a member of the Board of Mass Destruction (LFPWMD), which are published
Directors as Director in Charge of Compliance, by the competent authorities when an account
who is responsible for ensuring compliance is opened and when BCA enters into business
and minimizing compliance risk by developing relations. Furthermore, if the list is changed, the
compliance risk management policies and filtering will be repeated.
procedures and monitoring their implementation.
The Compliance Division (DCP), which is 9. Intra-Group Transaction Risk
independent of operational work units, assists • Measure and assess intra-group transaction risk
the Director in charge of the compliance function through analysis of quantitative indicators such
in carrying out its duties. The Compliance as intra-group transaction composition ratios in
Director reports the results of the Compliance the Financial Conglomerate, as well as qualitative
Director’s supervision to the President Director indicators such as agreement documentation,
on a quarterly basis, with a copy to the Board of transaction fairness, and other information.
Commissioners. • Monitor intra-group transactions by preparing
• The parameters used in assessing compliance intra-group transaction recapitulation reports
risk are the type and significance of violations within the BCA Financial Conglomerate
committed, the frequency of violations and periodically recapitulating intra-group
committed or compliance track record, and transaction agreements in accordance with
violations of certain financial transaction regulatory provisions.
provisions. Aside from that, DCP is in charge • Have an internal policy regarding intra-
of implementing the Anti-Money Laundering, group transaction risk management that is in
Counter-Terrorism Financing, and Prevention accordance with regulatory provisions and is
of Financing for the Proliferation of Weapons reviewed regularly.
of Mass Destruction (AML, CTF, and PFPWMD) • Ensure that every intra-group transaction within
programs, including risk assessments for the the BCA Financial Conglomerate is carried out in
implementation of AML, CFT, PFPWMD programs accordance with the Arm's Length Principle.
in accordance with regulatory provisions.
• Have compliance policies and procedures 10. Insurance Risk
in place, including AML, CTF and PFPWMD, • Carrying out insurance risk measurements and
which include, among other things, a process assessments through analysis of quantitative and
for constantly adapting internal provisions qualitative indicators such as technical risk ratios,
and systems to applicable regulations, insurance risk dominance over overall business
communicating provisions to relevant workers, lines, product risk mix and types of benefits, and
conducting reviews of new products/activities, reinsurance structure.
conducting regular compliance tests, and worker • Conduct regular monitoring to ensure the
training. adequacy of the risk selection process
• Utilize information technology, also known as (underwriting), premium determination (pricing),
Regulatory Technology (RegTech), to improve use of reinsurance, and/or claims handling.
efficiency and effectiveness in the process of • Have an internal policy related to insurance risk
regulatory provisions management. management guided by regulatory provisions
• In order to support the bank’s strategic and is reviewed regularly.
positioning as a transactional bank, particularly in
terms of preventing money laundering, terrorist
financing, and financing for the proliferation of
weapons of mass destruction, BCA has used a
web-based application called STIM (Suspicious
Transaction Identification Model), as well as
conducting system development for applications
using the latest technology and updating
parameters to detect suspicious transactions.
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Results of the Risk Management System The risk management policies of BCA and its Subsidiaries
Effectiveness Review are constantly updated in accordance with regulatory
Based on the results of the self-assessment, BCA’s risk provisions, the direction of developments in the most
profile rating in 2024 is “low to moderate” both individually recent Basel implementation, prudential banking principles,
and integratedly with Subsidiaries. and international best practices. BCA FC is always pay
attention to the economic situation an d conditions, as
The risk profile rating is the result of an assessment of well as developments in banking and non-bank financial
10 (ten) types of risk with the risk level ratings listed below: services institutions, when conducting business.
• Risks with a “low” risk rating include Market Risk,
Liquidity Risk, Legal Risk, and Intra-Group Transaction Statement of the Board of Directors and the Board
Risk. of Commissioners on the Adequacy and Review of
• Risks with a risk rating of “low to moderate” include the Effectiveness of the Risk Management System
credit risk, operational risk, reputation risk, strategic In 2024, BCA conducted an evaluation of the risk
risk, compliance risk, and insurance risk. management system in which:
• The Board of Directors evaluates the effectiveness of
This “low to moderate” risk profile rating is achievable the risk management system at BCA through regular
because BCA and its Subsidiaries have implemented an reviews of risk management policies and procedures,
effective and efficient risk management process in all of the adequacy of the risk management information
their activities. system, risk exposure reports, and assessments of
• BCA’s inherent and integrated risk trends are stable BCA’s risk profile and Integrated risk profile.
because no significant changes in inherent risk are • The Board of Commissioners supervises and evaluates
expected. Macroeconomic conditions in the coming the implementation of the risk management system
period are not expected to have a negative impact carried out by the Board of Directors, with assistance
on BCA. This is also supported by the policy mix of from the Risk Oversight Committee.
Bank Indonesia (BI) and the Government to maintain
Indonesia's economic growth amidst persistent Based on the findings of the evaluation and supervision,
high global uncertainty. In line with these conditions, the Board of Commissioners concludes that BCA’s risk
BCA FC continues to strive to maximize business management system is adequate and effective.
performance and performance achievements while
continuing to manage risks in all business activities
based on the principle of prudence.
• The quality of the integrated risk management
implementation will continue to be high. This is due
to the BCA FC’s establishment of an Integrated Risk
Management Framework, which consists of strategy,
organization, policies and procedures, as well as risk
management infrastructure, and continuously reviews
risk management in all of its activities to ensure that
all risks encountered by the BCA FC can be identified,
measured, monitored, controlled, and reported
correctly.
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INTERNAL CONTROL SYSTEM 2. First and Second Line
• The first line is responsible for the delivery of
products and services to customers. It also
The internal control system is a monitoring mechanism manages the associated risks.
established by BCA's management on an ongoing basis • The second line provides support related to
and adjusted to the objectives, size and complexity of risk management including responsibility for
BCA's business activities. The implementation of BCA's enterprise risk management. The second line role
internal control system is guided by OJK Circular Letter No. is performed by the Compliance Director, Risk
35/SEOJK.03/2017, dated July 7, 2017, on guidelines for Management Director, Risk Management Division
internal control system standards for commercial banks. (MRK), Compliance Division (DCP) and Operation
Strategy and Development Group (GPOL).
The objective of implementing an effective internal control 3. Third Line
system is to ensure: The third line role is carried out by the Internal Audit
1. Compliance with laws and regulations as well as Division (DAI) to strengthen BCA's ability to create,
applicable internal policies/provisions. protect, and maintain BCA value by providing
2. The availability of complete, accurate, efficient, and assurance, advice, insight, and foresight that are
timely financial and management information required independent, risk based, and objective, as well as
for appropriate and accountable decision making. acting as a strategic partner for management in
3. Effectiveness and efficiency of operational activities. building BCA into a leading bank in Indonesia through
4. Effectiveness of risk culture in the BCA’s organization assessing the adequacy and effectiveness of BCA's
as a whole. governance, risk management, and internal control
processes. DAI communicates audit results reports to
Additionally, in order to support OJK Regulation concerning the President Director, Board of Commissioners, and
the Implementation of Integrated Risk Management, Audit Committee.
BCA develops a comprehensive Internal Control System
for implementation of integrated risk management that In performing their roles, all lines communicate and
ensures: collaborate on a regular basis and contribute to create and
a. Compliance to internal policies or provisions, as well protect value that is aligned with the stakeholders’ interest.
as applicable laws and regulations;
b. The availability of complete, accurate, appropriate, Main Components of the Internal Control System
and timely financial and management information; In accordance with the Internal Control Integrated
and Framework developed by the Committee of Sponsoring
c. The effectiveness of the risk culture in the Financial Organizations of the Treadway Commission (COSO),
Conglomerate organization as a whole BCA’s Internal Control system consists of 5 (five) main
components, which include:
Internal Control System Framework
BCA adopt the three lines model framework to achieve I. Oversight by Management and Control Culture
reliable risk management and governance. The According to their roles, the Board of Directors and
implementation of three lines model at BCA is as follows: the Board of Commissioners are in charge of fostering
a culture of control. The role of the Board of Directors
1. Governing Body is to establish structure and maintain an effective
The Board of Commissioners and its committees under internal control system, as well as ensuring the
their coordination are responsible to ensure: security and reliability of the internal control system,
• Appropriate structures and processes are in among other by issuing the BCA’s Internal Control
place for effective governance; and System Standard Guidelines, policies, and operational
• Organizational objectives and activities are procedures.
aligned with the interests of stakeholders.
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The Board of Commissioners has a role to oversight The implementation of internal control includes:
and assess the adequacy of internal control through a. Financial Control
committees under its coordination, such as the Audit To ensure the successful implementation of
Committee, Risk Oversight Committee, and Integrated strategic plan that supports BCA’s development,
Governance Committee. The Audit Committee assists BCA has applied the following:
the Board of Commissioners in carrying out oversight 1) The Board of Directors has prepared
related to financial statements, internal control and received approval from the Board
systems, implementation of internal and external audit of Commissioners on the strategic plan
functions, Good Corporate Governance (GCG), and and Annual Work Plan and Budget (RKAT),
compliance with applicable laws and regulations. which are stipulated in the Bank’s Business
Plan (RBB) as a blueprint for a 3 (three)
II. Risk Identification and Assessment year business strategy, which has been
BCA has established an internal control mechanism distributed to BCA management who relates
embedded to each business unit, as a part of the to its implementation.
Board of Directors’ role in identifying, analyzing, and 2) The strategy implemented has considered
assessing the risks faced by BCA to ensure the targets the impact of strategic risk to BCA’s capital,
set are met. This role is carried out by establishing a including projected capital and the Minimum
Risk Management Division (MRK), which assigned Capital Adequacy Requirement (KPMM).
to ensure that BCA and its Subsidiaries are properly 3) The Board of Directors actively conducts
carried out risk mitigation in an integrated manner discussions/provides input, as well
through identification, measurement, monitoring, as monitoring internal conditions and
controlling, and reporting risks in accordance with the developments of external factors both
risk management framework, and capable in dealing directly or indirectly affect BCA’s business
with emergency situations that might threaten BCA’s strategy.
business continuity. 4) BCA implements financial control process
in the Bank and member of BCA financial
BCA has conducted a thorough risk identification conglomerates, in order to periodically
and assessment that includes credit risk, market risk, monitor BCA’s performance achievements
liquidity risk, operational risk, legal risk, reputation through the Corporate Strategy and
risk, strategic risk, compliance risk, insurance risk, Planning Division to improve the growth and
and intra-group transaction risk. Moreover, BCA performance of BCA and its Subsidiaries.
consistently conducts Risk Control Self-Assessment 5) BCA has ensured that all accounting policies
(RCSA) to review operational risks inherent in the main and standards are periodically renewed
function of each work unit. in accordance with applicable law and
regulations.
III. Control Activities and Segregation of Duties
Based on the internal control framework and b. Operational Control
components, BCA implements internal controls to In order to support overall operational risk control,
ensure the adequacy of financial controls, operational BCA has implemented the following:
effectiveness and efficiency, and compliance with 1) Forming the BCA organizational structure,
applicable laws and regulations. In addition, the including:
establishment of policies, manuals and operating - Segregation of duties to avoid conflict
procedures guide the implementation of duties and of interest.
segregation of functions in each work unit so that - Supervisor whose function is to oversight
each individual in his/her position does not have the implementation of internal control.
the opportunity to make mistakes/deviations in the - Internal supervision which functions to
implementation of these duties. ensure the implementation of internal
control in operational work units.
Monitoring and reviewing of the implementation of - DAI, which is independent of the risk-
the above duties and functions is carried out by the taking unit, evaluates and assesses
MRK and DAI as independent work units in the second the adequacy and effectiveness of
and third lines. An Assessment Report by DAI on the corporate governance, risk management,
adequacy and effectiveness of the governance, and internal control processes for
risk management, and internal control processes BCA and member of the BCA financial
is reported to the Board of Directors, Board of conglomerate.
Commissioners and the Audit Committee.
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- MRK and DCP, which are independent 4) The Compliance Risk Management Strategy
to the risk-taking unit. is to have a policy to always comply with
- Anti-Fraud Bureau to increase the applicable regulations, namely proactively
effectiveness of the implementation carrying out prevention (ex-ante) in order
of anti-fraud strategies for all company to minimize the occurrence of violations
activities. and taking curative action (ex-post) in the
2) Every banking operational transaction context of improvement.
carried out at BCA has work procedures
outlined in the work manual, to ensure that IV. Accounting, Information, and Communication
operational risks that may exist in these Systems
activities have been properly mitigated. BCA has adequate accounting, information, and
3) Establish employee rotation policies. communication systems to assist in the identification
4) Setting up limit and authority for officers to of problems that may arise and to be used as a
transact. means of exchanging information to carry out tasks
5) Establish Information Security Policy, in accordance with their responsibilities. BCA's
including: User ID access and password, accounting system produces accurate, precise,
physical security, etc. and consistent financial information because
6) Establishment of information security BCA has accounting policies in accordance with
management system policies, standards, applicable principles/regulations, supported by an
and procedures required to safeguard assets effective recording system and a well-documented
related to the implementation and use of IT. reconciliation process. The information system
7) Evaluate the results of the review and testing continues to evolve in line with the Bank's business and
of the Disaster Recovery Plan. technological developments to support all of BCA's
8) Determination of policies and procedures operational activities. BCA also communicated with
regarding the use of IT service providers. external parties, such as regulators and shareholders,
and implemented a whistleblowing system.
c. Compliance with Applicable Laws and
Regulations BCA has conducted a review by an independent party
To ensure BCA’s compliance with applicable to ensure that its information system can provide data
laws and regulations, BCA has implemented the and information related to business activities, financial
following: conditions, the implementation of risk management
1) BCA is committed to comply with applicable that meets the provisions, accurate, current, timely,
laws and regulations and taking corrective and accessible to stakeholders and reported
action for any risk weaknesses that may consistently to support the Board of Directors’ and
occur. Board of Commissioners’ duties.
2) BCA has established a DCP work unit that
is independent of the risk-taking unit and V. Monitoring Activities and Deviation Corrective
is responsible to monitor the compliance Action
of BCA and its Subsidiaries in an integrated Monitoring and testing of the adequacy and
manner. effectiveness of the risk management, internal control,
3) BCA has: and governance framework processes is carried out
- Monitor Compliance Reporting to BI/ by DAI as an independent work unit and reported to
OJK/other regulators. the Board of Directors, Board of Commissioners, and
- Submitted BCA Compliance Reports, Audit Committee.
including Anti-Money Laundering and
Counter-Terrorism Financing Program DAI takes on the role of monitoring and analyzing
Implementation Report to OJK every 6 the adequacy of follow-up by work unit on finding
(six) months. result and recommendations from DAI, external
- Submitted Compliance Monitoring auditors, and the result of supervision by OJK as well
Reports on BCA’s Prudential Provisions, as other authorities. The result of the DAI’s follow-up
including Anti-Money Laundering and monitoring is reported to the Board of Directors, the
Counter-Terrorism Financing Program Board of Commissioners and the Audit Committee on a
Implementation Report to the Board of quarterly basis. Changes to targets for the completion
Commissioners, President Director, and of significant audit results follow-up must be sought
Deputy President Director quarterly. for approval from the President Director and the Board
of Commissioners.
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Internal Control System Evaluation
The Board of Directors is responsible for ensuring the
implementation of an effective internal control system to
achieve BCA’s objectives. The Board of Commissioners,
assisted by the Audit Committee, Risk Oversight
Committee, and Integrated Governance Committee, is in
charge of overseeing the implementation of BCA’s Internal
Control System.
In order to evaluate the adequacy and effectiveness of the
internal control system, in 2024 BCA has monitored and
taken corrective actions as follows:
1. BCA continuously evaluate and monitor the overall
effectiveness of the implementation of internal
control, including in the event of changes in internal
and external factors that may affect BCA’s ability to
achieve its targets.
2. BCA prioritized monitoring on its key risks and
functions as part of daily activities, including periodic
evaluations to detect and prevent the occurrence of
new risks, both by the operational and risk monitoring
work unit as well as DAI.
3. DAI evaluates the adequacy and effectiveness of the
internal control system independently and objectively
through the implementation of risk-based audit
activities. The results of the evaluation and follow-up
are reported to the Board of Commissioners, the Audit
Committee, and the Board of Directors.
Board of Commissioners Statement on the
Adequacy and Effectiveness of the Internal Control
System
Based on its review and discussion with the Audit Committee
of the assessment report submitted by management, the
Board of Commissioners is of the opinion that BCA's system
of internal control is adequate and effective.
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IMPLEMENTATION OF THE ANTI-FRAUD 4) Fraud
STRATEGY 5) Leaking confidential information
6) Other actions that can be equated with Fraud in
1. Introduction accordance with statutory provisions.
In accordance with OJK Regulation No. 12 of 2024
on the Implementation of Anti-Fraud Strategies for In developing and implementing an effective Anti-
Financial Services Institutions, BCA has an Anti-Fraud fraud Strategy, BCA has paid attention to the following
Strategy Implementation Policy that refers to the OJK matters:
Regulation. The Policy Guidelines have been approved 1) internal and external environmental conditions;
by the Decision of the Board of Directors No. 009/SK/ 2) complexity of business activities;
DIR/2025 dated January 20, 2025 on the Adjustment 3) type of fraud;
of the Anti-Fraud Strategy Policy. The policy is a 4) risk of fraud; and
manifestation of BCA management's commitment 5) adequacy of required resources.
to prevent fraud through the implementation of an
effective and continuous fraud control system. This In order to support the implementation of the Anti-
fraud control system guides BCA in establishing steps fraud strategy, BCA has also established an Anti-
to prevent, detect, investigate and monitor fraud Fraud Bureau whose task is to carry out the function
incidents. of implementing the Anti-fraud strategy at BCA. The
Anti-Fraud Bureau is independent and responsible to
In accordance with prevailing OJK regulations, BCA the President Director. The Anti-Fraud Bureau has a
defines fraud as all acts of deviation or omission that line of communication and reporting to the Board of
are intentionally carried out to deceive, delude or Commissioners and has a line of coordination with
manipulate BCA, customers, or other parties that the Head of Internal Audit Division. However, with
occur within BCA and/or use BCA facilities, resulting in the issuance of with Decree no. 224/SK/DIR/2024
BCA, customers, or other parties suffering losses and/ regarding the Organisational Structure of the Anti
or perpetrators of fraud gaining financial benefits, Fraud Bureau (BAF) dated 20 December 2024, there
either directly or indirectly. Types of acts classified as is a change in the reporting of the BAF from the
fraud are: President Director to the Risk Management Director
1) Corruption, which includes: and a change in the coordination line of the BAF from
a. Conflict of interest that is detrimental to the Head of the Internal Audit Division to the Risk
BCA and/or customers Management Division Head. This change is effective
b. Bribery from 1 January 2025.
c. Gratification
d. Extortion 2. Objectives
2) Misuse of assets, which includes: The objective of anti-fraud policy implementation in
a. Misuse of cash BCA are:
b. Misuse of supplies • To nurture an anti-fraud culture across BCA
c. Misuse of other assets. organization.
3) Financial statement fraud, which includes: • To enhance awareness and concern for the risk of
a. Overstating net worth and/or net income fraud in BCA’s operations.
b. Reducing net worth and/or net income • To remind all BCA operation personnel to comply
with applicable procedures and regulations.
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Pilars and Implementation of Anti-Fraud Strategy
4 Pillars of Anti-Fraud
Strategy
Investigation, Observation,
Prevention Detection Reporting and Evaluation and
Sanction Follow-Up
Extracting information, Monitor and evaluate
Reduce the potential Identify and uncover
reporting system and fraud incidents as
of fraud fraud incidents
imposing sanctions on well as its necessary
fraud follow-up
Anti Fraud Awareness Whistleblowing Investigation Monitoring
Vulnerability
Surprise Audit Reporting Evaluation
identification
Know Your Employee Surveillance System Impose Sanction Follow-Up
Decree No. 114/SK/DIR/2021 dated June 17, 2021
concerning Adjustment of Anti-Fraud Strategy Policy*)
*) The Policy Guidelines have been approved by the Decision of the Board of Directors No. 009/SK/DIR/2025 dated January
20, 2025 on the Adjustment of the Anti-Fraud Strategy Policy.
Anti-fraud Strategy is part of risk management, especially those related to internal control aspects. The Anti-fraud
Strategy consists of 4 (four) pillars, as follows:
1) Prevention
Tools to reduce the potential risk of fraud, which at a minimum should include the anti-fraud awareness (such as
preparing and disseminating anti-fraud declarations, employee awareness programs, customer awareness.
2) Detection
Including the tools to identify and detect fraud incidents in BCA’s business operations, which should include at the
minimum whistleblowing, surprise audits, and surveillance system policy and mechanisms.
3) Investigation, Reporting, and Sanctions
The steps for investigations, a reporting system, and the imposition of sanctions with regard to incidents of fraud,
which at the minimum should include investigation, reporting, and the imposition of sanctions.
4) Observation, Evaluation and Follow-Up
The steps to monitor and evaluate as well as follow up on fraud, which at least should include monitoring, evaluation
and follow-up.
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3. Implementation and Internalization Socialization and Anti-Fraud Training
Anti-Fraud Declaration Socialization
In line with BCA’s commitment to implementing BCA continues to strive to increase the awareness and
its Anti-fraud strategy, BCA has prepared an Anti- vigilance of BCA employees against fraud. This effort
fraud Declaration, which states that management is carried out through socialization related to Anti-
is committed to implementing a “Zero Tolerance” Fraud, both in the form of digital comic posters and an
policy for fraud through efforts to build strong Anti-Fraud Awareness video. BCA employees are also
pillars that function to prevent, detect, investigate, obligated to fill out a yearly Integrity Pact by accessing
and continuously monitor risks, indications, and the Integrity Pact document on the BCA internal portal.
occurrences of fraud.
The contents of the BCA Anti-Fraud Declaration
(based on Board of Directors Decree No. 139/SK/
DIR/2020 has been updated in accordance with OJK
Regulation No. 12 of 2024 with the Board of Directors'
Decree No. 004/SK/DIR/2025 dated January 10, 2025
regarding Anti-Fraud Declaration and Integrity Pact)
are as follows:
“In order to strengthen the internal control system, the Training
implementation of Good Corporate Governance, and BCA has endeavored to continuously increase
as a further implementation of the Financial Services employee awareness and vigilance towards actions
Authority Regulation on the Implementation of Anti- of fraud through the Anti-Fraud awareness program,
Fraud Strategies for Financial Services Institutions, among others in the form of e-learning, in class
BCA hereby commits to: training, and internal sharing to increase operational
1. Conduct business fairly, honestly, and control, and so on.
transparently;
2. Avoid doing business with third parties who were All BCA employees are required to take part in Anti-
not committed in accordance with company’s Fraud Awareness e-Learning, which can be accessed
policy; and/or through the MyBCA internal portal and Mobile Learning.
3. Provide consequences for violation toward
policies and commitments. Anti-Fraud Training Data in 2024 and 2023
Media 2024 2023
Let all levels of the BCA organization, customers, and
e-learning 35,299 35,172
work partners collaborate to create an anti-fraud
participants participants
culture and manifest a fraud free and safe BCA.”
2024 Annual Report PT Bank Central Asia Tbk 451
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
4. Internal Fraud Violations Data in 2024
Disclosure of deviations (internal fraud) is carried out based on OJK Regulation concerning the Implementation of
Governance for Commercial Banks and Chapter IX No. 5 OJK Circular Letter No.13/SEOJK.03/2017 concerning the
implementation of governance for commercial banks, whereby the report consists of forms of deviation (internal
fraud), namely fraud committed by members of the Board of Directors, members of the Board of Commissioners,
permanent employees, temporary employees (honorary), and/or outsourced workers. The disclosed deviation refers
to deviations of more than Rp100,000,000.00 (one hundred million rupiah).
Table of Data on Fraud Violations Committed by Management, Permanent, and Non-Permanent Employees
Member of the Board
of Directors and Non-Permanent Employee
Permanent Employee
Deviation in 1 year Member of the Board of and Outsourced Workers
Commissioners
2024 2023 2024 2023 2024 2023
Total Fraud - - 3 2 3 4
Resolved - - 1 - - -
In the process of being resolved - - 2 - 3 -
internally at BCA
Yet to be resolved - - - - - -
Has been followed up through the - - - 2 - 4
legal process
5. Reporting
BCA submits a Report on the Implementation of the Anti-Fraud Strategy to OJK every semester as a form of monitoring
towards the implementation of the Anti-Fraud strategy, as well as an Incidental report in the event that a fraud incident
has a significant impact that could disrupt BCA’s operational activities.
452 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
WHISTLEBLOWING SYSTEM 1. Whistleblowing Procedure
A. Reporting Channel
BCA has had and implemented a Whistleblowing System The channel that can be utilized by
since 2013. The whistleblowing system is a reporting tool whistleblowers to convey reports is accessible
that can be used by BCA internal and external parties to through BCA website, at www.bca.co.id/
report acts of fraud or violations committed by perpetrators whistleblowingsystem. The whistleblowing
within BCA’s internal environment. system managing team will receive the report
directly.
BCA’s whistleblowing system policy refers to OJK Regulation
No. 12 of 2024, and is stated in the Board of Directors’ Decree B. Acceptable Reporting Criteria
No. 146/SK/DIR/2017 dated November 1, 2017, and disclosed To simplify and to accelerate the follow up
on the BCA website in the Governance section (https://www. process, whistleblowers must meet the following
bca.co.id/en/tentang-bca/tatakelola/acgs/kebijakan-gcg). reporting criteria:
The policy has been aligned by the Decision of the Board of 1) The reporting must be based on good faith
Directors No. 009/SK/DIR/2025 dated January 20, 2025 on and should not be a personal complaint or a
the alignment of the Anti-Fraud Strategy Policy. made-up story with bad intent/slander.
2) Information on the whistleblower’s identity
Objectives of the Whistleblowing System should be provided, at a minimum including:
Implementation of the whistleblowing system at BCA aims • The whistleblower’s name (anonymous
to: is permitted);
• Raise stakeholder awareness (employees, customers, • A phone/handphone number or an email
and others) to report fraud or violations that address that can be contacted;
occur within BCA without fear or worry because 3) Provide preliminary indication of fraudulent
confidentiality is guaranteed. act or violations that are accompanied by
• Detect and prevent fraud or violations at the earliest supporting data (if any) which cover 4W1H,
stage possible through the information disclosed by as follows:
whistleblowers. • Action/Reported actions (What);
• Alleged Parties (Who);
• Time of events (When);
• Place/location of events (Where);
• Chronology of events (How).
4) The types of fraud/violations to be reported:
Fraud A deliberate act of deviation and/or omissions to deceive, defraud, or manipulate BCA, customers,
or other parties, which occur within BCA and/or using BCA facilities, resulting in BCA, customers, or
other parties suffering losses, and/or the Fraud perpetrator obtains financial benefits either directly
or indirectly.
The types of acts that are classified as fraud are:
1) Corruption including:
a. Conflict, of interest that is detrimental to BCA and/or customers
b. Bribery
c. Gratification
d. Extortion
2) Misuse of assets, including:
a. Misuse of cash
b. Misuse of inventory
c. Misuse of other assets.
3) Financial statement fraud, including:
a. Overstating net worth and/or net income
b. Reducing net worth and/or net income
4) Fraud
5) Information leakage
6) Other actions that can be equated with Fraud in accordance with the provisions of statutory
regulation
Business/ Actions that are not in line with the BCA culture, which has been formulated based on positive values
Code of to be grown and developed within all BCA individuals for the purpose of achieving common goals and
Conduct also as a reference for BCA individuals in making decisions and taking action.
Violations
2024 Annual Report PT Bank Central Asia Tbk 453
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Conflict of Acts that give rise to circumstances in which a person who, in performing his or her fiduciary duty
Interest and obligation, pursues outside interests, such as personal, family related or other parties’ interests,
Violations that may have impaired or intruded upon his or her professional judgment and objectivity in making
decisions and policies according to the authority that has been awarded by BCA to him or her.
Violation of Any actions that violate applicable laws in Indonesia.
Laws
2. Whistleblower Protection
BCA will provide the protection to the whistleblower, including:
• Guaranteeing the confidentiality of the submitted whistleblower’s identity and the report contents;
• Guaranteeing protection against mistreatments that might harm the whistleblower;
• Guaranteeing protection against any potential perpetrator’s threats, intimidations, punishments or any unpleasant
act from the reported party;
• Prohibition of retaliation against whistleblowers.
3. Complaint Handling Flow
The following is the flow of the whistleblowing system report handling at BCA.
Work Units
Whistleblowing Management • Conduct the investigation or
Anti-Fraud Bureau
System follow up
• Verify and analyze the data
• Received report and ensure • Submit the investigation
• Coordinate and follow up
the report meets the criteria or follow up results to the
with the relevant work units
• Forward the complaint to decision-making officials (if
the Anti-Fraud Bureau proven as fraud)
• Inform the status to the
Anti-Fraud Bureau
4. Parties who Manage the Report Status Total Description
The management and the follow-up on the reports are Open (Still in 7 In process
handled carefully by an internal team who is appointed process)
by the BCA’s management, in accordance with BCA’s Closed 52 Proven: 6
internal laws and laws and prevailing regulations in (Resolved) Not proven: 6
Indonesia. The BCA internal team in charge consists
Does Not Meet Reporting
of Whistleblowing System Managers, the Anti-Fraud Criteria:
Bureau, and selected Work Units. - Informative/
Customer
5. Disclosure of Internal Fraud and Complaints Complaints (16)
- The data is
through the Whistleblowing System in 2024 incomplete and
the Reporting Party
A. Number of Complaints Through the does not provide the
Whistleblowing System requested additional
information/data (24)
As of December 31, 2024, the number of
complaints received through the whistleblowing
system was recorded at 59 (fifty-nine) reports, B. Sanctions and Follow-Up on Whistleblowing
of which 12 (twelve) reports were valid for System Complaints
investigation while 24 (twenty-four) reports were If the investigation proves that the perpetrator
invalid/pre-closed and 7 (seven) reports were committed fraud or violations, the decision-
still waiting for additional data/information from making officials will impose sanctions in
the Whistleblower. From 59 (fifty-nine) reports, accordance with prevailing regulations.
12 (twelve) reports or 20.34% have been
investigated and 6 (six) reports proven to be Type of Sanction Total
valid, 6 (six) invalids, while 7 (seven) reports are
Verbal Warning 1
still in the investigation process. The details of the
Reprimand Letter 1
status of the report on the whistleblowing system
are as follows: 1st Warning Letter 2
2nd Warning Letter -
3 Warning Letter
rd
-
Work Termination 1
454 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
ANTI-CORRUPTION AND These policies are legally binding and must be
GRATIFICATION CONTROL POLICY understood and implemented seriously by all levels
of BCA Personnel as part of the Code of Ethics and
1. Background to support the implementation of Good Corporate
The trust of the public trust as well as market actors Governance principles. If there is a violation or non-
in BCA is greatly influenced by the ethical behavior compliance with this policy, the violator may face
of all levels of BCA Personnel, from the Board of sanctions based on the severity of the violation.
Commissioners to the Board of Directors, the
management, and all employees. This trust is critical All levels of BCA Personnel are required to:
for establishing and maintaining business relationships a. Know, understand, and apply the Anti-Corruption
with customers and other third parties which interact and Gratification Control Policy with full
with BCA. responsibility and without exception.
b. Support the implementation of the Anti-
Related to this, to strengthen public trust and support Corruption and Gratification Control Policy,
Law No. 20 of 2001, which is an amendment to Law No. among others all members of the Board of
31 of 1999 concerning the Eradication of Corruption Commissioners, members of the Board of
Crimes, the BCA Board of Directors considers it Directors, and BCA employees are required to
necessary to establish provisions regarding anti- make an annual statement (annual disclosure)
corruption and gratuity control, which are intended to outlining all circumstances or situations that
support the implementation of the principles of Good could lead to conflicts of interest.
Corporate Governance as well as provide guidelines
for BCA's personnel as individuals in dealing with The anti-corruption policies outlined in the BCA Code
customers and partners as well as fellow employees. of Ethics include, among other things:
• Ensure that personal interests do not conflict with
2. Anti-Corruption and Gratification Control BCA’s or customers’ interests.
Policy • Do not take advantage of their position and
BCA has established several policies related to authority for personal or family gain.
preventing corruption and controlling gratification as • Do not engage in disgraceful behavior that could
part of its commitment to improving anti-corruption harm the image of the profession or BCA in
practices and culture and preventing gratification general.
within BCA. These policies include:
1. The Board of Directors’ Decree No. 219/SK/ The Gratification Control Policy of the BCA stipulates
DIR/2003, dated November 10, 2003, concerning that:
the Provision of Conflict of Interest. • All BCA employees are prohibited from
2. The Board of Directors’ Decree No. 269/SK/ requesting, accepting, allowing, or agreeing to
DIR/2021, dated December 31, 2021, concerning accept a gift or reward from a third party who
the Anti-Corruption and Gratification Control obtains or attempts to obtain facilities from BCA
Policies. in the form of credit facilities or other facilities
3. Circular Letter No. 336/SE/POL/2022, dated related to BCA’s operational activities.
September 15, 2022, concerning Gratification • All BCA employees are prohibited from
Control Reporting. requesting, accepting, allowing, or agreeing to
4. BCA Code of Ethics on Anti-Corruption (detailed accept a gift or reward from a third party who
information can be found on page 487 in the Code obtains or attempts to obtain work or orders
of Ethics section of this Annual Report). related to the procurement of goods or services
5. Anti-Fraud Strategy Implementation Guidelines from BCA.
(detailed information can be found on pages • In the event that customers, partners, and other
449 in the Anti-Fraud Strategy Implementation parties give gifts at specific times, such as
Section of this Annual Report). religious holidays or other celebrations, in which:
6. Conflict of Interest Policy (detailed information - the gift is believed to negatively impact and
can be found on pages 457 in the Affiliated influence BCA’s decisions, and
Transactions and Conflict of Interest Transactions - the cost of the gift exceeds reasonable
section of this Annual Report). limits;
therefore, BCA Personnel who received the gift
must promptly return it with a polite explanation
that all BCA Personnel are not permitted to
receive such gifts.
2024 Annual Report PT Bank Central Asia Tbk 455
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
The main points of these policies can be found in the 4. Corruption and Gratification Control Reporting
Governance section of the BCA website. (https:// To support the implementation of its anti-
www.bca.co.id/en/tentang-bca/tata-kelola/acgs/ corruption policy, BCA already has a
kebijakan-gcg). Whistleblowing System as a means of reporting
for internal BCA and external parties. There were
3. Implementation of Anti-Corruption and no reports of corruption violations received
Gratification Control Policies through the Whistleblowing System in 2024.
BCA constantly strives to improve the culture of Detailed information on the Complaint Handling
anti-corruption and gratification control within the Policy via the Whistleblowing System can be
company, including through the following practices: found on pages 453 in the Whistleblowing System
Section of this Annual Report.
1. Annual Disclosure
All members of the Board of Commissioners, BCA has appointed the Compliance Division as
members of the Board of Directors, and BCA the Gratification Control Unit (UPG) to assist with
People are required to make an Annual Disclosure the implementation of gratification control and
containing all circumstances or situations that to provide internal reporting facilities for BCA
could possibly give rise to a conflict of interest in the case that gratification is received. There
in order to prevent corruption and control were 2 (two) reports received through this facility
gratification. Detailed information on Annual in 2024.
Disclosure can be found on page 293 in the
Internalization section of this Annual Report. 4. Other information
It is BCA’s culture not to accept gifts or rewards
2. Integrity Pact from customers, debtors, vendors, associates,
As part of implementing the Anti-fraud strategy work partners, or other third parties in exchange for
in the form of a statement that must be prepared services performed by BCA employees in the course
periodically every year for all BCA personnel, BCA of their duties. In this regard, BCA Personnel must also
personnel are required to make an Integrity Pact follow the Code of Ethics for Vendors. The referenced
statement, which can be accessed via digital code of ethics is contained in the BCA Governance
means on mybcaportal. Guidelines and can be found in the Code of Ethics
section of this Annual Report.
3. Socialization and Internalization of Anti-
Corruption Values and Gratification Control Furthermore, BCA has never provided funds/political
The implementation of socialization and contributions or voluntary donations that resulted in
internalization of anti-corruption and gratification acts of corruption or bribery. Provisions regarding
control values is done through sharing sessions, funds/contributions related to political or social
socialization, e-learning, socialization/ activities are governed by the following provisions in
awareness, among others through BCA's social the Corporate Governance Guidelines section of the
media. Company’s Code of Ethics:
• Any participation in social and/or political
activities by BCA Personnel is on their own
behalf and does not represent BCA. The Board of
Directors must approve any statement, attitude,
or action that may reflect BCA’s position.
• Expenditures in the form of donations made on
behalf of BCA for social and/or political activities
must be approved by the Board of Directors.
Internal socialization of Anti-Corruption and
Gratification Control
456 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
AFFILIATED TRANSACTIONS AND 8. PT Asuransi Jiwa BCA
CONFLICT OF INTEREST TRANSACTIONS 9. PT Bank Digital BCA
*) PT BCA Multi Finance has merged into PT BCA Finance on September 1, 2024
Policy of Affiliated and Conflict of Interests Transactions
BCA already has a policy on Affiliated Party Transactions and
Conflict of Interest Transactions as set forth in the Board of Information and share ownership structure related to BCA's
Directors' Decision No. 151/SK/DIR/2023 dated September Subsidiaries can be seen in this Annual Report on page 497-
12, 2023 on Related Party Transactions and Conflict of Interest 499.
Transactions and Circular Letter No. 155/SE/POL/2024 dated
May15, 2024, concerning the Implementation of Affiliated 1. Affiliated Transactions
Transactions and Conflict of Interest Transactions. The main
points of the Affiliated Transactions and Conflict of Interest Disclosure of Affiliated Transactions in the 2024
Transactions Policy can be found in the GCG Policy section of Annual Report
the BCA website. (https://www.bca.co.id/en/tentangbca/ BCA's Disclosure of Affiliate Transaction Reports
tata-kelola/acgs/kebijakan-gcg). in the 2024 Annual Report takes into account the
provisions of Article 22 of OJK Regulation No. 42/
In light of the publication of OJK Regulation No. 42/ POJK.04/2020, namely in the case of Affiliated
POJK.04/2020 dated July 2, 2020 concerning Affiliated Transactions and/or Conflict of Interest Transactions
Transactions and Transactions with Conflicts of Interest carried out by a Controlled Company that is not a
("OJK Regulation No. 42/POJK.04/2020"), BCA always Public Company and whose financial statements are
ensures that internal policies are in compliance with consolidated with the Public Company, the Public
prevailing regulatory developments. In accordance with Company is required to carry out the procedures as
OJK Regulation No. 42/POJK.04/2020, BCA conducts stipulated in OJK Regulation No. 42/POJK.04/2020. In
periodic socialization to its subsidiaries, branch offices, this sub-chapter, the Controlled Company is defined
related work units at regional offices, and head office as a Subsidiary of BCA as described on page 101-102
regarding affiliated transactions. of this Annual Report, where the term Subsidiary is
defined, among others, in OJK Regulation concerning
BCA Affiliated Parties the Implementation of Integrated Governance and
BCA affiliated parties are as follows: OJK Regulation concerning the Implementation of
• Employees, members of Board of Directors, and Integrated Risk Management.
members of Board of Commissioners of BCA. Affiliated Transactions disclosed in this 2024 Annual
• BCA’s major shareholders, namely individuals or Report are:
corporations that directly or indirectly own at least • Affiliated Transactions between BCA and BCA
20% (twenty percent) voting rights of all shares with Subsidiaries;
voting rights issued by BCA, or an amount less than • Transactions between BCA and BCA Affiliated
that which has been determined by OJK. Parties other than BCA Subsidiaries;
• Companies controlled by BCA, directly or indirectly. • Affiliated Transactions between BCA
• Companies that have one or more Directors or Subsidiaries; and
Commissioners concurrently serving as a members • Affiliated Transactions between BCA Subsidiaries
of Board of Director or members of Board of and BCA Affiliated Parties (other than BCA
Commissioner of BCA. Subsidiaries).
• Companies controlled by BCA's major shareholders.
• Individuals who have a familial relationship by marriage Review and Approval Mechanism for Affiliated
or descent to the second degree, both horizontally Transactions and/or Conflicts of Interest
and vertically, with members of the Board of Directors Each work unit and Subsidiary Company that will
of BCA, members of the Board of Commissioners of conduct transactions with affiliated parties must
BCA, and/or the main shareholders of BCA. inform the Environment Sustainability Governance
Group (ESG Group) in writing along with the required
Companies Controlled by BCA (Subsidiaries) data. The ESG Group coordinates with related work
BCA has Subsidiaries that are not Public Companies, and units to conduct an analysis to determine the follow-
their financial statements are consolidated with BCA's: up actions that need to be taken in accordance
1. BCA Finance Limited with applicable regulations. In order to ensure that
2. PT BCA Finance transactions are carried out in the best interests
3. PT Bank BCA Syariah of the company and prevent potential conflicts of
4. PT Asuransi Umum BCA interest that are detrimental to the Company, in
5. PT BCA Multi Finance *) accordance with its duties and responsibilities, the
6. PT Central Capital Ventura Audit Committee will review and provide advice to the
7. PT BCA Sekuritas Board of Commissioners regarding potential conflicts
of interest.
2024 Annual Report PT Bank Central Asia Tbk 457
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Affiliated Transactions and Conflict of Interest Transactions Flow Mechanisms in BCA
Head Office/Regional Office/ Based on the written information from the
Branch/Subsidiary Work Units Head Office Work Unit/Regional Office/
report the Affiliated Branch/Subsidiary Company, the ESG
Transaction plan to the ESG Group conducts a study to determine the
Group category of the Affiliated Transaction
Category 2
Category 3
Transactions that are only
required to be disclosed Transactions that must
Category 1 in annual reports/financial be disclosed to the
Transactions that are only required to be reported to the OJK are reports are transactions public are transactions
transactions that meet the provisions of Article 6 paragraph 2 juncto that meet the provisions that meet the provisions
paragraph 1 of OJK Regulation No.42/POJK.04/2020 of Article 8 paragraph 1 of Article 4 paragraph 1
of OJK Regulation No.42/ letter b of OJK Regulation
POJK.04/2020 No.42/POJK.04/2020
The criteria for Affiliated Transactions that fall into Category 1 include the The criteria for Affiliated The criteria for Affiliated
following: Transactions that fall into Transactions that fall into
a. Transactions between: Category 2 are as follows: Category 3 are as follows:
1) Public Company with Controlled Company whose shares are owned Business activities Affiliated transactions
by at least 99% of the paid-up capital of the Controlled Company; transactions that are that are not included in
2) Controlled Companies whose at least 99% of shares are owned by the routinely, repeatedly and/ Category 1 and Category 2
said Public Company; or or continuously carried
3) Controlled company with a company in which the controlled company out in order to generate namely: transactions
owns at least 99% of the paid-up capital; business income, which with a transaction value
b. Transactions with a transaction value not exceeding 0.5% of the Public includes transactions exceeding 0.5% of the
Company’s paid-up capital or not exceeding Rp5 billion, a lower value is included in operational Public Company’s paid-up
used. costs (Operational capital or exceeding Rp5
c. Transaction of increasing or decreasing capital to maintain the Expenditure/OPEX) billion, a lower value is used
percentage of ownership after the said investment is carried out for a
minimum of 1 (one) year
All affiliated transactions in categories 1, 2 and 3 are presented in this Annual Report. Category 1 transactions have
been reported to OJK and Category 3 transactions have been disclosed.
Affiliated Transactions Disclosure in 2024
Article 22 OJK Regulation No. 42/POJK.04/2020 stipulates that in the event that an Affiliated Transaction and/
or Conflict of Interest Transaction is carried out by a Controlled Company that is not a Public Company and whose
financial statements are consolidated with a Public Company, then the Public Company must carry out procedures as
stipulated in OJK Regulation No. 42/POJK.04/2020.
The Implementation of Affiliated Transactions and/or Conflict Transactions can be categorized as follows:
- BCA with Subsidiaries or Affiliated Parties of BCA
- Subsidiary Companies with Subsidiary Companies or Affiliated Parties of BCA
Therefore, in order to comply with OJK Regulation No. 42/POJK.04/2020 above, the following is the disclosure of
Affiliated Transactions and/or Conflict of Interest Transactions according to the category of each transaction.
I. Realization of Affiliated Transactions conducted by BCA with Subsidiaries or Affiliated Parties of BCA
(I.1) Category 1
Throughout 2024, there were 31 (thirty one) Affiliated Transactions with a total value of Rp19,242,087,301.87
which were included in Category 1, as follows:
Transaction
No Transaction Type Affiliated Parties Transaction Value Nature of Relationship
Date
1 January 9, 2024 Room rental agreement PT Central Capital Rp97,435,800.00 Transactions between BCA
Ventura and BCA Subsidiaries
2 January 15, 2024 Rental agreement PT Sentul Damai Rp267,099,300.00 Transactions between BCA
for room in the KCP Resort and companies controlled by
Summitmas Building BCA Pension Fund
458 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Transaction
No Transaction Type Affiliated Parties Transaction Value Nature of Relationship
Date
3 January 16, 2024 Managed Network Service PT BCA Finance Rp153,402,000.00 Transactions between BCA
Provision Agreement and BCA Subsidiaries
4 January 16, 2024 Managed Network Service PT Asuransi Umum Rp2,299,994.37 Transactions between BCA
Provision Agreement BCA and BCA Subsidiaries
5 January 24, 2024 Rental Agreement for PT Abacus Cash Rp1,261,537,200.00 Transactions between BCA
Room in the BCA Antapani Solution and companies controlled by
Building, Bandung BCA Pension Fund
6 February 28, Cooperation in Receiving PT Bank Digital Rp61,549.50.00 Transactions between BCA
2024 Documents of Heirs of BCA and BCA Subsidiaries
BCA Digital Customers at
BCA Branch Offices.
7 April 1, 2024 IT Operation Management PT BCA Sekuritas Rp85,630,950.00
Service Provision
Agreement
8 May 2, 2024 LED TV Purchase PT Sarana Kencana Rp7,179,480.00 Transactions between BCA
Mulya and companies controlled by
BCA's major shareholders
9 May 13, 2024 Sale and Purchase PT Bank Digital Rp15,000,000.00 Transactions between BCA
Agreement for Used BCA and BCA Subsidiaries
Lenovo M920S Personal
Computer (PC)
10 May 15-16, 2024 Auction of 75 Used BCA Employees Rp615,895,313.00 Transactions between BCA
Macbook Air and BCA employees
11 May 16-17, 2024 Auction of 21 Used BCA Employees Rp172,137,263.00
Macbook Air
12 May 31, 2024 LED TV Purchase PT Sarana Kencana Rp7,251,630.00 Transactions between BCA
Mulya and companies controlled by
BCA's major shareholders
13 June 26, 2024 Peripheral GSIT Q2 2024 - PT Global Digital Rp966,741,180.00
Software Perpetual Niaga
14 July 15, 2024 Procurement of FLUKE PT Global Digital Rp33,353,280.00
Niaga
15 July 26, 2024 Cooperation in the PT Bank Digital Rp2,188,062,081.00 Transactions between BCA
Provision of Outbound BCA and BCA Subsidiaries
Contact Center Halo BCA
Services to BCA Digital
Customers
16 August 13, 2024 Procurement of 2 (two) PT Global Digital Rp13,300,020.00 Transactions between BCA
Tablets Niaga and companies controlled by
BCA's major shareholders
17 August 19, 2024 LED TV Purchase PT Sarana Kencana Rp12,746,130.00
Mulya
18 September 26, Sale and Purchase PT BCA Sekuritas Rp15,040,000.00 Transactions between BCA
2024 Agreement for Used and BCA Subsidiaries
Servers and IP Phones
19 October 1, 2024 Cooperation Agreement PT Bank Digital Rp107,004,000.00
for Use of the Low Code BCA
Platform
20 October 1, 2024 Cooperation Agreement PT Bank BCA Rp107,004,000.00
for Use of the Low Code Syariah
Platform
21 October 1, 2024 Second Hand Furniture PT Abacus Cash Rp3,500,000.00 Transactions between BCA
Sales Solution and companies controlled by
BCA Pension Fund
22 October 7, 2024 Sale of Unused Fixed PT Abacus Rp42,500,000.00
Assets Danapensiuntama
23 October 16, Cooperation Agreement PT BCA Finance Rp107,004,000.00 Transactions between BCA
2024 for Use of the Lowcode and BCA Subsidiaries
Platform
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Transaction
No Transaction Type Affiliated Parties Transaction Value Nature of Relationship
Date
24 October 17, 2024 Second Hand Furniture PT Abacus Cash Rp8,500,000.00 Transactions between BCA
Sales Solution and companies controlled by
BCA Pension Fund
25 October 30, Sell and Purchase of PT Akar Inti Solusi Rp4,369,648,000.00 Transactions between BCA
2024 X86 Servers in 2024 and and companies controlled by
Installation BCA's major shareholders
26 October 30, Sale of 3 (three) used HPE PT BCA Sekuritas Rp9,000,000.00 Transactions between BCA
2024 brand servers, type DL and BCA Subsidiaries
380 G9
27 October 31, Sale of 1 (one) set of Used PT Abacus Rp3,000,000.00 Transactions between BCA
2024 Private Automatic Branch Danapensiuntama and companies controlled by
Exchange BCA Pension Fund
28 November 19, Implementation of PT Alto Network Rp532,800,000.00 Transactions between BCA
2024 the Whatsapp catalog and companies controlled by
provision pilot for BCA BCA's major shareholders
Merchants
29 November 21, Sell and Purchase of PT Akar Inti Solusi Rp4,369,648,000.00
2024 X86 Servers in 2024 and
Installation
30 December 12, Sell and Purchase of PT Bank Digital Rp2,775,000,000.00 Transactions between BCA
2024 Business Internet Banking BCA and BCA Subsidiaries
Applications
31 December 30, Purchase of Krisbow Brand PT Global Digital Rp7,142,850.00 Transactions between BCA
2024 Mobile Lifter Niaga and companies controlled by
BCA's major shareholders
(I.2) Category 2
1) Throughout 2024, there were 35 (thirty-five) Affiliated Transactions, which are included in Category 2 that
are relatively large in transaction value (above Rp1 billion), as follows:
Transaction Transaction Value
No Transaction Type Affiliated Parties Nature of Relationship
Date (after VAT)
1 January 9, EDC Management PT Dana Purna Rp1,177,952,556.00 Transactions between BCA
2024 Investama and companies controlled
by the BCA Pension Fund
2 February 1, Job outsourcing PT Sentral Layanan Rp25,403,944,658.00
2024 agreement for physical Prima
processing of money
3 February 21, Renewal Communication PT Iforte Solusi Rp39,305,219,026.00 Transactions between BCA
2024 Link & Dark Fiber Bndc Infotek and companies controlled
WSA2 by BCA's main shareholders
4 February 21, Link Communication PT Iforte Solusi Rp32,466,509,665.00
2024 Infotek
5 February 23, Miscellaneous Service PT Dana Purna Rp1,036,494,402.00 Transactions between BCA
2024 Work Investama and companies controlled
by the BCA Pension Fund
6 February 26, Cooperation Agreement PT Darta Media Rp1,300,000,000.00 Transactions between BCA
2024 Development of Solutions Indonesia and companies controlled
Based on Artificial by BCA's main shareholders
Intelligence And Machine
Learning
7 March 13, Cash Management PT Sentral Layanan Rp8,953,039,169.00 Transactions between BCA
2024 Services Prima and companies controlled
by the BCA Pension Fund
8 March 13, Cash Management PT Sentral Layanan Rp7,063,848,516.00
2024 Services Prima
9 March 13, Cloud PT Global Rp6,048,843,795.00 Transactions between BCA
2024 Distribusi and companies controlled
Nusantara by BCA's main shareholders
460 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Transaction Transaction Value
No Transaction Type Affiliated Parties Nature of Relationship
Date (after VAT)
10 March 13, Cash Management PT Sentral Layanan Rp4,225,213,376.00 Transactions between BCA
2024 Services Prima and companies controlled
by the BCA Pension Fund
11 March 13, Cash Management PT Sentral Layanan Rp1,963,950,247.00
2024 Services Prima
12 March 13, Cloud PT Global Rp1,192,627,303.00 Transactions between BCA
2024 Distribusi and companies controlled
Nusantara by BCA's main shareholders
13 March 15, Management & Support Of PT Dana Purna Rp86,204,024,725.00 Transactions between BCA
2024 Office Facilities Investama and companies controlled
by the BCA Pension Fund
14 March 15, Management & Support Of PT Dana Purna Rp76,488,921,251.00
2024 Office Facilities Investama
15 March 15, Management & Support of PT Dana Purna Rp75,805,104,562.00
2024 Office Facilities Investama
16 March 19, Promotion Outside Mass PT Dynamo Media Rp3,062,046,000.00 Transactions between BCA
2024 Media Network and companies controlled
by BCA's main shareholders
17 March 22, Business Entity Gebyar PT Danamas Insan Rp2,339,616,000.00 Transactions between BCA
2024 Lottery Program Organizer Kreasi Andalan and companies controlled
Services by the BCA Pension Fund
18 March 29, Agreement of the Provision PT Global Rp10,248,372,783.94 Transactions between BCA
2024 of Google Cloud Platform Distribusi and companies controlled
Software Subscription Nusantara by BCA's main shareholders
Facilities
19 April 26, 2024 Promotion Outside Mass PT Danamas Insan Rp2,542,969,600.00 Transactions between BCA
Media Kreasi Andalan and companies controlled
by the BCA Pension Fund
20 May 15, 2024 Agreement: BCA Wealth PT Grand Rp2,947,560,000.00 Transactions between BCA
Summit, 2nd until 5th Indonesia and companies controlled
September 2024 by BCA's main shareholders
21 May 31, 2024 Renewal Security Key PT Akar Inti Rp43,290,000,000.00
Development for Mobile Teknologi
Applications Using
Unbound
22 June 3, 2024 Addendum to Lease PT Marga Sadhya Rp3,060,920,016.00
Agreement Swasti
23 June 26, 2024 PERIPHERAL GSIT Q2 - PT Global Digital Rp1,016,468,070.00
2024 Niaga Tbk
24 July 1, 2024 Solar Panel Construction, PT Iforte Energi Rp1,277,262,457.27
Operation and Nusantara
Authorization Agreement
Between PT Iforte Energi
Nusantara and PT Bank
Central Asia Tbk
25 July 19, 2024 OCR Bank Satement PT Darta Media Rp1,264,373,250.00
Indonesia
26 September 19, Extension of the Period Of PT Dwi Cermat Rp4,381,339,572.00
2024 Cooperation with Cermati Indonesia
Regarding Software
Management for Life Style
Features on BCA Mobile
27 October 2, Purchase for lucky draw PT Global Digital Rp6,021,600,000.00
2024 prize of Gebyar BCA 2024 Niaga Tbk
28 October 8, Training Organizer Services PT Grand Rp1,534,500,000.00
2024 Indonesia
29 October 22, Cooperation Agreement PT Global Digital Rp1,666,452,971.00
2024 for Organizing BCA MSMEs Niaga Tbk
Fest No.0010/PKS/DBKM-
DTB/VI/2024
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Transaction Transaction Value
No Transaction Type Affiliated Parties Nature of Relationship
Date (after VAT)
30 October 24, Outsourcing Services PT Dana Purna Rp1,786,905,409.00 Transactions between BCA
2024 Investama and companies controlled
by the BCA Pension Fund
31 October 29, Cooperation Agreement PT Global Rp18,230,772,441.00 Transactions between BCA
2024 for Providing Google Distribusi and companies controlled
Cloud Platform Services Nusantara by BCA's main shareholders
Consulting Services
32 October 29, Google Cloud Platform PT Global Rp7,006,834,103.00
2024 Services Distribusi
Nusantara
33 October 29, Base24 System Support PT Akar Inti Solusi Rp4,689,479,750.00
2024 Services
34 October 30, Cooperation Agreement PT Darta Media Rp5,000,000,000.00
2024 for Software Development Indonesia
for Digital Solutions
35 November 19, Niki World Tour Jakarta PT Darta Media Rp3,950,000,000.00
2024 2025 Sponsorship Indonesia
Agreement
2) In addition to the 35 (thirty-five) Affiliate Transactions above, there were 336 (three hundred thirty-six) other
transactions with a total value of Rp23,372,911,684.00, (twenty-three billion three hundred seventy-two
million nine hundred eleven thousand six hundred eighty-four rupiah), which are not described in detail in this
Annual Report, considering that the value of each transaction is relatively small (immaterial).
3) In addition to the Affiliated Transactions above, there are also Affiliated Transactions in the form of loans,
overdrafts, placements and/or deposits with a position value as of December 31, 2024 conducted between
BCA and BCA Subsidiaries or Affiliated Parties other than BCA Subsidiaries.
The Affiliated Transactions conducted by BCA with Affiliated Parties other than BCA Subsidiaries can be
seen in the Annual Financial Statement Section Note 46 page 682 of this Annual Report, while the Affiliated
Transactions conducted by BCA with BCA Subsidiaries are as follows:
No. Transaction Type Affiliated Parties Transaction Value Nature of Relationship
1 Loan granted PT BCA Finance Rp21,851,216,204.00 Transactions between BCA
and BCA Subsidiaries
2 Loan received
3 Overdraft granted PT BCA Finance Rp99,436,446,674.00
4 Overdrafts received PT Bank BCA Syariah Rp109,903,239.00
5 Placement of funds (in the form of BCA Finance Limited Rp2,276,838,703.74
current accounts, deposits, and
equivalent)
6 Deposits of funds (in the form of PT BCA Finance Rp130,966,555.00
current accounts, deposits, and
PT Bank BCA Syariah Rp11,577,188,987.89
equivalents)
PT Bank Digital BCA Rp62,622,974,994.00
PT Asuransi Umum BCA Rp13,875,104,420.88
PT Asuransi Jiwa BCA Rp1,210,615,612.94
PT Central Capital Rp399,651,500.00
Ventura
PT BCA Sekuritas Rp7,252,545,873.90
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
(I.3) Category 3
Throughout 2024, there was 1 (one) affiliated transactions with a total value of Rp16,345,058,400.00 (sixteen
billion three hundred forty-five million fifty-eight thousand four hundred rupiah) which was included in Category
3, as follows:
No Transaction Type Affiliated Parties Transaction Value Nature of Relationship
1. 40th Floor Room Rental PT Grand Indonesia Rp16,345,058,400.00 Transaction between BCA
and companies controlled by
BCA's Majority Shareholder
II. Realization of Affiliated Transactions conducted by the Subsidiaries with Subsidiaries or Affiliated Parties of
BCA
(II.1) Category 1
Throughout 2024, there were 1 (one) Affiliated Transactions which were included in Category 1, as follows:
No Transaction Type Affiliated Parties Nature of Relationship
1. Merger between PT BCA Multi Finance PT BCA Finance dengan Transaction between BCA and companies controlled
and PT BCA Finance PT BCA Multi Finance by BCA's main Shareholder
(II.2) Category 2
1) In 2024, there were 3 (three) Affiliated Transactions carried out by BCA’s subsidiaries, which are included in
Category 2 that are relatively large in transaction value (above Rp1 billion), as follows:
No Transaction Type Affiliated Parties Transaction Value Nature of Relationship
1 Joint Financing PT Bank Digital BCA Rp499,987,000,000.00 Transactions between BCA
with PT BCA Finance Subsidiaries
2 Indodana Channeling PT Bank Digital BCA Rp300,000,000,000.00 Transactions between
with PT Artha Dana BCA Subsidiaries and
Teknologi companies controlled by
BCA’s main shareholders
3 3rd Addendum AWS Service PT Bank BCA Syariah Rp12,583,100,602,00
Agreement with PT. Darta Media
Indonesia
2) In addition to the 3 (three) Affiliated Transactions above, there were 14 (fourteen) other transactions with a
total value of Rp816,450,833,503.00 (eight hundred sixteen billion four hundred fifty million eight hundred
thirty-three thousand five hundred three rupiah), which are not presented in detail in this Annual Report
considering the value of each transaction is relatively small (immaterial).
3) In addition to the Affiliated Transactions above, there were also Affiliated Transactions in the form of loans,
overdrafts, placements and/or deposits with a position value as of December 31, 2024 conducted among
BCA Subsidiaries. The aforementioned Affiliated Transactions are as follows:
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
No Transaction Type Affiliated Parties Transaction Value Nature of Relationship
1 Loan granted/received - -
2 Overdraft granted/received - -
3 Placement of funds/deposits of funds PT Central Capital Rp23,072,446.00
(in the form of current accounts, Ventura with PT Bank
deposits, and equivalent) BCA Syariah
PT BCA Sekuritas with Rp61,442,469,862.00
PT Bank BCA Syariah
PT BCA Sekuritas with Rp69,839,789,32 Transactions between BCA
PT Bank Digital BCA Subsidiaries
PT Asuransi Jiwa BCA Rp26,226,784,037.00
with PT Bank BCA
Syariah
PT BCA Finance with PT Rp2,124,202.00
Bank BCA Syariah
PT Asuransi Umum Rp90,000,000,000.00
BCA with PT Bank BCA
Syariah
(II.3) Category 3 2. Conflict of Interest Transactions
Throughout 2024, there were no Affiliated
Transactions in Category 3. Policy on Conflicts of Interest
In accordance with BCA’s code of ethics, the decision-
Transaction Fairness making process is not influenced by other parties or
The principles considered when conducting any conflict of interest. Decision-making outcomes
transactions with affiliated parties are as follows: and existing conflicts of interest must be recorded
• Attention to the principles of Good Corporate and documented as evidence.
Governance, namely transparency,
accountability, responsibility, independence, and BCA’s Policy on Conflicts of Interest is stated in the
fairness. Board of Directors’ Decree No. 219/SK/DIR/2003
• Ensuring the feasibility, fair value, and terms of the dated November 10, 2003 concerning Conflicts of
transaction in question (arm’s length transaction). Interest Provision, which regulates that all levels of
BCA must be aware of and avoid activities that may
The affiliated transactions conducted by BCA give rise to or cause conflicts of interest. BCA requires
and BCA’s Subsidiaries in 2024 are fair and at all employees in echelon 5 and above to digitally sign
arm’s length transactions. an Annual Disclosure form in order to manage potential
conflicts of interest (as disclosed in the Internalization
Compliance of Affiliated Transactions with section of the Introduction to Governance chapter of
Applicable Procedures this Annual Report).
Transactions are carried out with affiliated parties
with the primary goal of providing the best possible In the context of integrated governance, the Board of
benefits to BCA. In practice, all affiliated transactions Directors of BCA also ensures that the implementation
that occurred in 2024 have gone through the necessary of intra-group transaction risk management within
procedures in accordance with BCA’s policies on the financial conglomerate is free from conflicts
affiliated transactions. of interest between individual Financial Services
Institutions.
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Conflict of Interest Policy for the Board of Compliance of Transactions Containing Conflicts of
Commissioners and the Board of Directors Interest with Applicable Policies
Provisions related to conflicts of interest for the Board Throughout 2024, members of the Board of
of Commissioners and the Board of Directors are Commissioners and members of the Board of
regulated in the Corporate Governance Guidelines, Directors of BCA have managed the potential for
which govern the following matters: conflicts of interest as regulated in the applicable
• Members of the Board of Commissioners and/ provisions, including if a member of the Board of
or members of the Board of Directors who have Commissioners or a member of the Board of Directors
a conflict of interest are prohibited from making has a conflict of interest, then the member of the
decisions, and/or actions, and/or being involved Board of Commissioners or member of the Board of
in the process of carrying out transactions that Directors who has the conflict of interest does not
may harm BCA or reduce BCA’s profit and must participate in decision-making.
disclose the condition of the conflict of interest
related to each decision. Transactions Containing Conflicts of Interest in 2024
• Members of the Board of Directors are not In 2024, there were no transactions containing
authorized to represent BCA in matters or conflicts of interest that could harm BCA or reduce
transactions in which the member has a conflict BCA's profits.
of interest with BCA.
Independent Parties in Affiliated Transactions and
Conflicts of Interest
In accordance with applicable regulations and as
stipulated in BCA’s internal policies, if there are
transactions with affiliated parties which must be
reported to OJK and for which public information
disclosure is required, BCA will appoint an independent
appraiser to evaluate the fair transaction value.
In the event that there is a transaction conducted by
BCA with a third party in which the economic interests
of BCA and the economic interests of members of
the Board of Directors, members of the Board of
Commissioners, major shareholders, or controllers
diverge in a manner that may be detrimental to BCA,
BCA is required to use an independent appraiser
to determine the fair value of the object of the
transaction and/or the fairness of the transaction
and obtain prior approval from BCA’s Independent
Shareholders through an Independent GMS.
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
LEGAL CASES
The legal issues covering criminal cases and civil cases faced by BCA throughout 2024, 2023, and 2022 are as follows.
1. Criminal Law Cases
The following are the details of criminal law cases faced by BCA in 2024, 2023, and 2022:
Criminal Law Cases 2024 2023 2022
Legally settled 6 13 6
(a final and binding verdict has been issued)
In the process of settlement 1 4 7
Total 7 17 13
Throughout 2024, these criminal court cases all included allegations against BCA customers, employees, or other third
parties of thievery, fraud, embezzlement in office, embezzlement of fiduciary collateral, fraud, forgery of letters, money
counterfeiting, and money-counterfeiting, where no case has a material loss value of more than Rp1 billion.
Meanwhile, there were no criminal cases in court involving reports from customers, employees, or other third parties against
BCA.
2. Civil Law Cases
The following are the details of civil law cases faced by BCA in 2024, 2023, and 2022:
Civil Law Cases 2024 2023 2022
Legally settled 203 155 160
(a final and binding verdict has been issued)
In the process of settlement 216 219 186
Total 419 374 346
BCA was involved in civil cases as a result of the following:
1) Lawsuits related to accounts by customers’ heirs.
2) Customer lawsuits/resistance related to account confiscation/blocking carried out by BCA at the request of the
Court, the Tax Office and/or other third parties.
3) Lawsuits from customers/other third parties related to payment transactions, transfers, balances, and
disbursement of account and/or securities.
4) Customer lawsuits related to account fraud.
5) Lawsuits related to the use and payment of credit card bills.
6) A third-party lawsuit related to land/office building disputes owned by BCA.
7) Lawsuits related to legal entity accounts in connection with disputes over the management of legal entities and/
or associations.
8) BCA lawsuits/resistance related to compensation and account blocking.
9) Lawsuits/rebuttals from debtors (husband/wife), collateral owners, and/or other parties related to confiscation,
auction, and/or vacating of collateral.
10) Lawsuits/rebuttals from debtors (husband/wife) and/or third parties related to credit and/or collateral.
11) Application of PKPU/Bankruptcy requests submitted by BCA against bad debtors.
466 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
There were BCA civil law cases that are still ongoing in 2024 with a nominal claim of over Rp50 billion, however the
value of the cases are immaterial and does not affect BCA’s business continuity, including the following:
BCA
No. Case No. Lawsuit Case Status Risk for BCA
Position
1. 41/ Co- The lawsuit of the RDN BCA customer against the In the cassation Potential
PDT.G/2022/ Defendant II securities company PT KS on the grounds that the process. compensation
PN.Jkt.Sel customer felt that he had been given misleading BCA won at the payments
promises of profits and the share buying and selling appeal and first
transactions carried out by PT KS were carried instance.
out without the customer's knowledge/approval
so that the customer suffered losses from the
transaction.
2. 676/ Defendant I The debtor's lawsuit against the auction on the In the Judicial Potential
PDT.G/2021/ grounds that according to the debtor, BCA had Review process. compensation
PN.Jkt.Pst committed an unlawful act by violating the OJK BCA won at payments
Regulation regarding the COVID-19 stimulus policy the cassation
because it did not provide credit restructuring to level, lost at the
the debtor. appeal level,
and won at the
first instance.
3. 272/ Defendant I The debtor and collateral owner's lawsuit against In the cassation Potential
PDT.G/2022/ the auction on the grounds that the auction limit process. compensation
PN.Cbi value was far below the market value. BCA won at the payments
appeal and first
instance.
4. 630/ Defendant I, The debtor's lawsuit challenges the warning letters In the cassation Potential
PDT.G/2022/ II and III sent by BCA on the grounds that according to the process. compensation
PN.Jkt.Pst debtor, BCA had committed an unlawful act by not BCA won at the payments
providing credit restructuring to the debtor. appeal and first
instance level.
5. 406/ Defendant I The debtor's lawsuit challenges the auction of Currently Potential
Pdt.G/2024/ execution of mortgage rights on the grounds undergoing trial compensation
PN.Jkt.Pst that BCA committed an unlawful act because it proceedings payments
did not fulfill the plaintiff's request regarding the at the first
elimination of interest and fines. instance.
6. 1093/Pdt. Defendant I The debtor's lawsuit challenges the auction on the In the cassation Potential
Bth/2023/ grounds that the auction was invalid because it process. compensation
PN.Sby was not based on court fiat and the amount of debt BCA won at the payments
must first be confirmed by the debtor through the appeal and first-
aanmaning process. instance level.
Throughout 2024, BCA did not face significant risks regarding existing legal issues because, based on the results of its
self-assessment, BCA's legal risk level is in a "low" position.
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
3. Legal Cases Faced by the Subsidiaries
The following are the details of civil and criminal legal cases that Subsidiaries faced in 2024:
Subsidiaries Case Status Civil Criminal
PT BCA Finance Legally settled (a final and binding verdict has been issued) 57 -
In the process of settlement 67 -
BCA Finance Ltd Legally settled (a final and binding verdict has been issued) - -
In the process of settlement - -
PT Bank BCA Legally settled (a final and binding verdict has been issued) 15 -
Syariah
In the process of settlement 27 1
PT Asuransi Legally settled (a final and binding verdict has been issued) - -
Umum BCA
In the process of settlement - -
PT Asuransi Jiwa Legally settled (a final and binding verdict has been issued) 1 -
BCA
In the process of settlement 4 -
PT BCA Sekuritas Legally settled (a final and binding verdict has been issued) - -
In the process of settlement - -
PT Central Legally settled (a final and binding verdict has been issued) - -
Capital Ventura
In the process of settlement - -
PT Bank Digital Legally settled (a final and binding verdict has been issued) - -
BCA
In the process of settlement - -
PT BCA Multi Cases that have been settled (there is a decision that has permanent legal 8*) 2*)
Finance force)
In the process of settlement 13*) 2*)
Note:
*) As of September 1, 2024, PT BCA Multi Dinance effectively merged into PT BCA Finance
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
IMPORTANT CASES & ADMINISTRATIVE 4. Sanctions for non-compliance with laws or
SANCTIONS regulations related to significant or material related
party transactions
1. Significant Cases Facing Members of the Board Throughout 2024, there were no cases of non-
of Directors and Members of the Board of compliance with laws, rules, and regulations relating
Commissioners of BCA to transactions with related parties that are significant
Throughout 2024, no member of the Board of Directors or material involving BCA.
or members of the Board of Commissioners have never
been involved in any significant criminal or civil cases, 5. Sanctions for legal violations related to labor/
as member of the Board of Directors or member of the employment/bankruptcy/competition or
Board of Commissioners of BCA. environmental issues
Throughout 2024, BCA has never been sanctioned
2. Significant Cases Facing Members of Board of by a court decision that has been legally binding
Directors and Board of Commissioners of Subsidiaries (inkracht) related to labour/employment/insolvency/
Throughout 2024, no current members of the Board of competition or environmental issues.
Directors or members of the Board of Commissioners
of Subsidiaries have ever been involved in any 6. Sanctions from regulators related to important
significant criminal or civil cases, as member of events
the Board of Directors or member of the Board of Throughout 2024, BCA has never received sanctions
Commissioners of Subsidiaries. from regulators due to not making announcements
within the specified time period for important events.
Impact of Legal Issues on BCA and Subsidiaries
All legal issues encountered by BCA and its Subsidiaries 7. Sanctions related to listing regulations
throughout 2024 have no material impact on BCA’s Throughout 2024, BCA has not received any sanctions
and its Subsidiaries’ position or business continuity. related to violations of listing policies from regulators.
BCA always strives to comply with listing rules,
3. Administrative Sanctions from Related Authorities regulations, provisions and/or listing policies from
Throughout 2024, BCA, member of the Board regulators and SROs, both disclosure policies and
of Directors and/or members of the Board of other related policies.
Commissioners have never received administrative
sanctions, both material and non-material, from the 8. Sanctions related to tax regulations
OJK or other regulators, which could affect BCA’s In the last 3 (three) years, there are taxation cases that
business continuity. are still under litigation. The tax cases were not caused
by BCA's non-compliance with the applicable tax laws
and regulations.
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INFORMATION ACCESS AND CORPORATE DATA
BCA maintains continuous good communication with regulators, shareholders, customers, BCA employees, partners, and
the general public as part of the implementation of the principles of transparency and accountability to stakeholders. The
Communication Policy governs BCA's good relations with its stakeholders.
BCA's communication policy is set out in the Communication and Information Functions and Information Disclosure chapters
of the BCA Governance Guidelines. BCA provides the public with access to corporate information and data through, among
others, the communication channels described below.
1. Communication Channels of Stakeholders
BCA stakeholders are parties related to BCA’s business activities and significantly influence the sustainability of BCA.
STAKEHOLDERS
Media, Interest Labor and
Customers and Client Regulator Groups,and Public Labor Union
Investors and Public Business Partners/
Shareholders Communities Suppliers/Vendors
BCA engages and interacts with stakeholders through formal processes and at the appropriate level of engagement.
The Corporate Secretary, the Environment Sustainability Governance (ESG) Group, the Investor Relations Group and
the Corporate Communication & Social Responsibility (CCR) Work Unit manage interactions with stakeholders such as
regulators, investors and the general public.
Furthermore, in accordance with their duties and responsibilities, related work units communicate with stakeholders.
BCA has provided various communication channels in its interactions with stakeholders to ensure that BCA information
is disseminated intensively and effectively.
Name of
Interest Communication Channel Frequency
Stakeholder
Customer and • Providing information about • Halo BCA Contact Center At all times
Client banking products and services as • BCA Website
well as the security of customer • Social Media
privacy.
• Providing the best banking solutions
for stakeholders.
• Solving problems in transactions
involving banking products and/or
services.
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Name of
Interest Communication Channel Frequency
Stakeholder
Investor or Financial performance, sustainability • Annual GMS and/or Extraordinary GMS • Once a year
Shareholder implementation, and implementation • Annual Report and Sustainability Report • Incidental
of prudential principles and good • Analyst Meeting • Quarterly
corporate governance. • Public Expose • At all time
• Investor Relations Contact:
Tel: +62 21 235 88000
• E-mail: investor_relations@bca.co.id
OJK Regulators Compliance and implementation of • Monthly report According to
and BI the prudence principle and Good • Quarterly Report regulations
Corporate Governance • Disclosure of information related to (monthly,
Affiliated Transactions quarterly and
• Explanation of information in the mass incidental)
media
• Submission of evidence of the
announcement of the AGMS and/or
EGMS, Monthly Securities Reports,
Public Expose Reports, a summary of the
Consolidated Financial Statements via
electronic media and/or hardcopy
• Submission of press releases related
to financial reports, and copies of the
minutes of AGMS and/or EGMS,
• Submission of evidence of summons for
the GMS and/or EGMS
• Report and announcement of dividend
distribution schedule
• Report on ownership or changes in share
ownership
Public Empowerment programs and • Sustainability Report • Once a year
Community opportunities through community • Youtube Solusi BCA • At all times
programs and Corporate Social • Instagram GoodLifeBCA
Responsibility (CSR).
Media, Interest BCA information and data, including • Press release via printed and electronic • As needed
Groups and regarding BCA’s financial condition, media • At all times
General Public products and corporate actions. • BCA corporate communication contact:
corcom_bca@bca.co.id
Business Partner/ • General policies related to the • BCA website As needed
Supplier/Vendor procurement of goods and/or • Beauty Contest
services, types of requirements/ • Code of ethics related to vendors
specifications, BCA information and • Logistics Division PIC Contact
data, and the process of becoming (Procurement Aspect)
a vendor.
• Vendor input, suggestions, and
information.
Employee and Industrial relations and issues related Internal communication via Info BCA At all times
Labor Union to employees’ welfare, rights and e-magazine, BCA update, MyBCAPortal,
obligations. audio visual facilities, Halo SDM-call center
for BCA employees, sharing sessions, GCG
series articles, banking services, and/or
facilities
2. Product Information and Transparency
BCA has provided information about BCA's products and services in a transparent, accurate and up-to-date manner in
accordance with the provisions of the OJK and BI. BCA uses the following facilities to make it easier for customers to
obtain this information:
• BCA’s official website and BCA’s official social media accounts, which provide complete and up-to-date
information regarding all BCA products, services, and programs;
• Leaflets, brochures, Plasma TVs, or other written forms at every BCA branch office throughout Indonesia
containing information on bank products to facilitate customer awareness;
• BCA frontline staff, such as Relationship Officers, Account Officers and Customer Service, in all BCA offices, who
are passionate about providing the product/service information and solutions that customers need.
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Apart from using these facilities, BCA also conveys social media account, making it easier
information about its products and services directly for customers to access services without
to customers. The dissemination of information to incurring communication costs. In November
customers is based on the customer's consent given 2024, BCA added a VoIP calling feature to the
by signing the consent column for providing customer myBCA application so that customers can
data on the account opening form. Publication of easily and promptly access Halo BCA phone
information on BCA's banking products, services services through the myBCA application.
and/or facilities is carried out in accordance with • Outbound Call Services 1500888
the regulatory provisions on transparency of banking - Digital Relationship Officer (DRO) is an
product information and use of personal data of outbound campaign service of Halo
customers. BCA that aims to convey information,
transaction validation and confirmation,
3. Company Information and Data Facilities telesurvey, customer retention, and
BCA's business management not only pursues BCA business solution products offer to
profitability, but also strives to provide the best banking customers according to lead based.
solutions for its stakeholders. BCA continuously - Solution Assistant (SOLA) is a
provides customers with convenient access to BCA Relationship PIC for one of the customer
information. The best banking solutions are provided segmentations which aims to explore
by BCA through communication facilities, namely: needs, follow up and provide solutions
related to BCA products and services
1. Halo BCA according to customer needs.
Halo BCA can provide information regarding - SOLA outbound calls to customers
products and services needed by customers using 1500888, while customers can
through: call SOLA (inbound) on 1500118 with the
PIC extension, which has been informed
• Telephone: 1500888 to customers.
• E-mail: Halo BCA@bca.co.id - Customers can also contact SOLA via
• Halo BCA Chat: www.bca.co.id, Whatsapp WhatsApp to 0811 1500 998 with #Halo
(0811 1500 998). BCA, or via e-mail: sola_doc@bca.co.id
• Video Call and Video Banking are available • The Asset Under Management (AUM)
in: service is a Relationship PIC and outbound
- myBCA Store (Central Park, Emporium campaign for customer segmentation that
Pluit Mall, Kota Kasablanka, Ciputra aims to carry out the function of acquiring
World, BCA Learning Institute); and monitoring investment solutions such
- myBCA Hybrid (Gandaria City, Thamrin, as Mutual Fund products and Government
Pondok Indah Mall, Summarecon Mall Bonds at competitive prices for potential
Serpong, AEON Mall Sentul, UGM BCA customers.
Yogyakarta);
- myBCA Booth (Tangerang City, The communication facilities for the AUM
Supermall Karawaci, Cibinong City Mall, outbound and inbound call services are the same
Royal Plaza, Mall of Indonesia, AEON as the SOLA service. Additionally, video call
Mall Deltamas). services related to investment solutions can also
- Available also at branch offices (KCU be used.
Alam Sutera, KCU Serpong, KCU
Harapan Indah, KCU Bekasi, KCU In addition, Halo BCA also manages online
Matraman, KCU Darmo, KCU SCBD, KCP account opening services, accepts reports, and
Sahid J Walk, KCU Sunter, KCU Hybrid resolves customer complaints as follows:
Thamrin). - Online account opening services (via BCA
• Halo BCA's customer service plays an mobile, myBCA, and marketplaces such as
important role in helping customers transition Blibli, DANA, MyCampus, and Bayarind) and
to BCA's evolving digital ecosystem. One of online credit card applications with a faster
the latest innovations is the ability to update process with video calls.
customer information online through the - Halo BCA accepts customer reports and
Halo BCA application. This application has follows up on customer complaints with the
been integrated with all contact center following service levels and response times:
services, including VoIP (no phone charges),
email, Halo BCA Chat, and the @Halo BCA
472 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
a. Inbound call: 20 seconds Currently, the official BCA website has been
b. Whatsapp: 2 minutes transformed into a digital channel that facilitates
c. X: 25 minutes various customer needs by providing online forms
d. Hello BCA Chat: 2 minutes (e-forms) as well as more complete tracking and
e. e-mail: 30 minutes checking features. Several e-forms and tracking
and checking features available at www.bca.
Service Level Agreement (SLA) co.id include:
BCA has established SLAs for resolving internal
and external complaints, depending on the type Application and Registration
of complaint reported by the customer. By 2024, • Home Ownership Credit (KPR)
97.40% of the total 1,178,989 (one million one • BCA Credit Card
hundred seventy-eight thousand nine hundred • Motor Vehicle Credit (KKB)
eighty-nine) complaints submitted through Halo • Motorcycle Credit (KSM)
BCA were resolved in accordance with the SLA. • BCA Insurance
Below is a comparison of the types of reports • Business Credit and People's Business Credit
submitted to Halo BCA in 2023 and 2024: (KUR)
• BCA EDC and QRIS
Type of Report • BCA Payroll
• BCA Autopay
20,337,396 20,061,559 • API
0.01% 0.01%
5.80% 6.29%
Tracking and Checking
• Money Transfer (Firecash)
• Bank Guarantee Status
• BCA Reward Balance
55.66% 49.65% • KPR Application Status and Insufficient
Documents
Suggestion Reports from the Community
Complaint
• Whistleblowing System
38.53% 44.06% Information
With the presence of an e-form on the BCA
Request website, individual customers can apply for Home
Ownership Credit (KPR), BCA Credit Card, Motor
2024 2023 Vehicle Credit (KKB), Motorcycle Credit (KSM),
and BCA Insurance online more practically. The
A comparison of the types of reports submitted availability of tracking and checking features will
to Halo BCA in 2023 and 2024 is as follows: also make it easier for customers to check BCA
a. Customer service requests (suspensions, Reward balances and track the status of money
activations, etc.) decreased by 5.53%. transfers (Firecash), BCA Bank Guarantees,
b. Information requests increased by 6.01%. and KPR applications as well as missing KPR
c. Complaints decreased by 0.49%. documents.
d. Suggestions have not changed.
For business customers, the official BCA
2. BCA Website website also offers convenience in accessing
BCA’s official website, www.bca.co.id, is a capital services through online Business Credit
trusted source of information for both individual applications at www.bca.co.id. In fact, customers
and business customers. Through this website, can optimize the credit simulation feature for
BCA provides a variety of complete information calculating ceilings, estimating installments, and
regarding BCA banking products and services, credit terms so that business credit applications
the latest BCA promotional programs, news are effective and according to their needs.
related to BCA, economic research reports,
as well as various information about BCA as a Apart from that, to support smooth business
corporation. operations, registration for API (Application
Programming Interface) cooperation, EDC and
QRIS submissions, and BCA Payroll can also be
done easily via www.bca.co.id.
2024 Annual Report PT Bank Central Asia Tbk 473
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
In order to improve the experience of clients • X Account (@BankBCA, @Halo BCA,
or prospective clients in using BCA e-Banking @XpresiBCA, @GoodLifeBCA,
services, the BCA website provides access to @ KartuKreditBCA)
download the myBCA application, BCA mobile • Facebook (BankBCA, XpresiBCA,
application, BCA eBranch application, Halo GoodLifeBCA, KartukreditBCA)
BCA application, BCA Merchant application and • YouTube (Solusi BCA)
Sakuku application on each service information • Linkedln PT Bank Central Asia Tbk.
page of the BCA e-Banking applications. • Instagram (@GoodLifeBCA) and
(@LifeAtBCA)
The presence of various online forms and tracking • Line (Bank BCA)
and checking features on www.bca.co.id is in line • Tiktok (@BankBCA)
with BCA's commitment to always strive to make
it easy for every customer to enjoy a variety of Complete information regarding BCA’s
BCA banking products and services, which are official accounts and social media activities
supported by the use of the latest technology. can be accessed via https://www.bca.co.id/
socialmedia.
Furthermore, BCA always maintains information
disclosure in the context of implementing Good BCA also continues to innovate by presenting
Corporate Governance and in accordance the VIRA chat-bot or BCA Virtual Assistant Chat
with regulatory provisions and the information Banking. VIRA can be accessed through BCA
needs required by investors, the Capital Market Bank accounts Facebook Messenger, LINE chat
community, and shareholders. Therefore, application and BCA Bank WhatsApp. Through the
information about BCA, information for investors VIRA Channel, customers can obtain information
and shareholders, corporate governance, related to promos, check balances and transfers,
commitment to sustainability, corporate exchange rates, ATM info, credit card info, and
responsibility, the latest news related to BCA, as other banking access. In addition, BCA has
well as economic research reports, are regularly also launched a chat service via the Whatsapp
presented on the BCA website. application with Halo BCA agents, which can be
accessed by customers 24 hours a day, 7 days a
Lastly, www.bca.co.id continues to consistently week.
present informative and educative articles in
the BCA News, BCA EdukaTips, and AwasModus Throughout 2024, BCA actively continued to
sections in an effort to improve customer organize activities to campaign for social media-
experience in enjoying various features of BCA's based communications, such as:
newest services, products and programs. 1. Campaigns related to updates on BCA
banking products to communicate the
3. BCA Social Media benefits of BCA banking products to
BCA strives to build solid interactions with potential markets;
customers and the Indonesian public by 2. Campaigns related to education on safe
consistently presenting creative and informative banking transactions for the public;
content on various social media platforms. 3. Campaigns related to promotions from BCA;
This step embodies the slogan “Always by Your 4. Campaigns related to available job openings
Side,” with the goal of making BCA’s social at BCA;
media accounts a trusted source of information 5. Campaigns related to loan offering products
and reference, as well as a source of creative from BCA;
inspiration for all people in the digital era. The 6. Campaigns related to business literacy,
following is a list of official BCA social media especially for MSME entrepreneurs;
accounts. 7. Campaigns related to education on
transaction security and customer data
privacy; and
8. BCA Campaign “Bangga Lokal”.
474 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
FACEBOOK
X
LINKEDIN
YOUTUBE
LINE INSTAGRAM TIKTOK
4. List of 2024 Press Releases
BCA’s press release is part of the implementation of the Good Corporate Governance principles, particularly the
principle of transparency. In 2024, there were 192 (one hundred ninety-two) press releases made by BCA, as follows:
No. Month Date Release Title
1 January 6 Hooray!! BCA Transaction Limit Increases Starting January 2024
2 25 Sustainable Growth with Solid Performance, Loans up 13.9%
3 27 BCA Signs Partnership with Jamkrindo, Committed to Promoting Quality KUR Disbursement
4 30 Boosting MSME Business, BCA Facilitates Issuance of 1,000 Halal Certificates in Various
Regions
5 February 2 Special for MSMEs! BCA Inaugurates the First Pojok UMKM in Indonesia
6 3 BCA Confirms the Announcement of Interbank Transfer Changes to Rp150,000/month is a
HOAX and Fraud
7 6 Synergizing with 'Desa Bakti BCA' Administrators, BCA Promotes Sustainable Tourism
2024 Annual Report PT Bank Central Asia Tbk 475
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
No. Month Date Release Title
8 7 BCA Operational Schedule During 2024 Isra Mikraj and Chinese New Year Holiday
9 18 Celebrating 67th Anniversary, BCA Offers Various Promos, 67% Discounts, and Free Health
Services
10 22 Celebrating 67th Anniversary, BCA Produces Uniforms Made from Recycled Materials for Over
25,000 Employees
11 25 Supporting ESG Implementation, BCA Recycles 12.2 Tons of Uniform Waste
12 26 67th Anniversary, BCA Provides Health Services, Blood Donation, Cataract Surgery, and Free
Glasses
13 28 Supporting the Government to Preserve Orangutans, BCA Restores 4 Artificial Islands at BOSF
Conservation Site
14 28 Join Us! Join us! BCA Expoversary 2024 Arrives on February 29, 2024, Featuring Fantastic
Promotions, Discounts, and Low-interest rates at ICE BSD
15 29 Interest Rate Starts from 2,67% on KPR BCA, and 0% DP Vehicle Loans, Let's Get Your Dream
Home and Vehicle at BCA Expoversary 2024!
16 March 1 BCA Offers Special Interest Rate of 2.67% for Mortgages, Perfect for New Families Looking
for a Home
17 1 Attention Palembang People! BCA Delivers Sweet Gift of KPR Starting from 2.67% and 0% DP
for Vehicle Loans at 2024 BCA Expoversary Palembang 2024
18 1 Celebrating 67th Anniversary, BCA Offers Special Promos on Vehicles and Housing at BCA
Autoshow Tegal 2024
19 1 In Addition to 0% Down Payment, BCA Expoversary Also Offers Special Interest Rate of 2.67%
for Vehicle Loans
20 2 Joy in Bumi Pasundan, BCA Offers Special Interest for Mortgage 2.67% and 0% DP for Vehicle
and Motorcycle Financing in BCA Expoversary Bandung 2024
21 2 Celebrates 67th Anniversary, BCA Offers Special Interest Rate of 2.67% to 0% Down Payment
for KKB and KSM at BCA Expoversary Semarang 2024
22 2 CCV Reveals Several Digital Sectors That Are Attractive to Investors Amid Challenging
Conditions
23 2 BCA Launches “Merchant BCA” Apps, Makes Entrepreneurs Become Versatile
24 3 Serves Hundreds of Thousands of Calls Daily, Halo BCA’s Crucial Role in Providing Customer
Convenience and Security in the Digital Banking Era
25 3 BCA Syariah Offers Gold Murabahah Financing at BCA Expoversary 2024
26 3 BCA Reveals Strategy to Attract More Gen Z Investors
27 3 Snaking Queue Seen as Visitors Hunt iPhone 15 Discounts & Promos at BCA Expoversary 2024
28 3 Pay Attention Arek-Arek Suroboyo! BCA Delivers Sweet Gift of KPR Starting from 2.67% and
0% DP Vehicle Loans at BCA Expoversary Surabaya 2024
29 3 Attention Arek-Arek Malang! BCA Offers a Special Mortgage Interest of 2.67% and 0% DP for
Vehicle Loans at BCA Expoversary Malang 2024
30 4 Bakti BCA Encourages Indonesian MSME Products to Go International
31 4 BCA Reveals Reasons for Launching myBCA App
32 4 Offered up to Rp13.15 Billion, Here are Four High-End Car Types at BCA Expoversary 2024
33 5 BCA Sekuritas: Banking Sector Stocks Promising in 2024
34 5 Celebrating 67th Anniversary, BCA Provides Free Cataract Surgery in Namrole, Maluku
35 6 Supporting Puteri Indonesia 2024, BCA Boss Gives Financial Literacy to 42 Finalists
36 6 Not Only Become Crazy Rich, BCA Solitaire and Prioritas Allows Customers Earns More Profit
Easier
37 9 Rejoice at BCA Expoversary 2024 Makassar, Enjoy Special Interest Rate of 2.67% KPR and 0%
DP KKB & KSM
38 9 BCA Operational Schedule During Nyepi Day Saka New Year 1946 Holiday Period
39 9 BCA’s Green Initiative Wisma BCA BSB Earns Green Building Certificate
40 13 Always Stands by Customer Side, BCA Wins Gallup Customer Engagement Award Three Years
in a Row
476 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
No. Month Date Release Title
41 14 BCA Holds Annual General Meeting of Shareholders, Set Dividend at Rp270.00 per Share
42 15 Euphoria at BCA Expoversary Medan 2024, Enjoy Special Interest Rates of 2.67% for
Mortgages and 0% DP for Vehicle Loans
43 15 Continuously Committed to the Highest Quality Standards, BCA Successfully Maintains ISO
9001:2015 Certification
44 16 BCA Nominated as World’s Strongest Banking Brand by Brand Finance
45 18 Supporting Indonesia Emas 2045, BCA SYNRGY Academy Batch 7 Fosters 250 New Digital
Talent Candidates
46 19 Welcoming Eid Al-Fitr 2024, BCA Prepares Up to Rp68.80 Trillion in Cash
47 20 Giving Donation and Zakat through NU Care-LAZISNU Become Easier Using Lifestyle Feature
in BCA Mobile
48 21 Collect 5,000 Plastic Bottles at the BCA Expoversary 2024, Bakti BCA Committed to
Releasing 500 Sea Turtles
49 21 BCA Insurance Reminds the Importance of Home Protection Ahead of Eid Homecoming
50 28 Congratulations! 700 Bakti BCA 2024 Scholarship Recipients from 20 Campus in Indonesia
will Join A Yearlong Special Program
51 April 2 BCA Operational Schedule During 2024 Eid and Public Holiday
52 5 Euromoney Awarded BCA as The Best Bank for Premium Customers
53 18 Celebrates Kartini Day, BCA Presents Special Interest Rates Starts from 3.21% for Women
Entrepreneurs
54 22 BCA's Loan Book Grew 17.1%, Solid Performance Across All Segments
55 25 Dedicated Commitment to Indonesia, BCA Introduces Nicholas Saputra as Bakti BCA Brand
Ambassador
56 May 1 BCA Holds Appreciation Day for 17 Bakti BCA Schools Rated Above National Average
57 3 Celebrating National Education Day, Bakti BCA Again Holds “BCA Berbagi Ilmu” at BINUS
University
58 8 The Presence of Vice President Director of BCA Armand W. Hartono and Nicholas Saputra at
“BCA Berbagi Ilmu” at UNDIP, Enthusiastically Welcomed by Students
59 8 BCA Operational Schedule During Ascension of Jesus Christ Holiday 2024
60 9 Aligning Ecofashion Trends with Tradition, Bakti BCA Holds Natural Dye Development for 50
East Sumba Weavers
61 14 Gebyar Hadiah BCA is Back, Customers Can Win Vespa to Mercedes-Benz!
62 15 BCA Berbagi Ilmu at ITB: BCA Deputy President Director Shares Tips to the Working World and
How Technology Can Help
63 17 Reinforcing Commitment to Support Halal Economy, BCA Holds 2024 Halal Certification
Workshop
64 17 Attended by 900 Sriwijaya University Students, BCA Director Lianawaty Suwono Shares Tips
to 'Dance Beautifully' in the Midst of Uncertainty
65 21 BCA Operational Schedule During Vesak Day Holiday 2024
66 22 Strengthening Commitment to Support Indonesian Halal MSMEs, BCA Facilitates Bali MSMEs
with Free Halal Certification Workshop
67 23 Strengthening Support for MSMEs, BCA distributes Working Capital Loans to coffee shop
entrepreneurs in Bali
68 23 myBCA App Becomes Gen Z's "Top of Mind" for Mobile Banking, BCA Thanks All Customers
69 28 Commitment to Improve Public Health, BCA Holds Cataract Surgery Operations in East and
West Indonesia
70 30 Bring Back The Glory Days of Retail, myBCA X Brightspot Mall 2024 Opens at Ratu Plaza
71 31 Support Inclusivity, BCA Provides Professional Makeup Training for Disabilities
72 June 1 Presenting BCA UMKM Pride 2024, BCA Provides a Platform for UMKM Growth
73 3 BCA Director Gives Udayana University Students Tips for Facing Technology Disruption and
Social Change
2024 Annual Report PT Bank Central Asia Tbk 477
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
No. Month Date Release Title
74 4 Representing Indonesia, BCA Wins 4 Top Awards in Asia: CEO, CFO, CSR, and Investor
Relations
75 4 Holds 115th Blood Donation, BCA and PPATK Collected 400 More Blood Bags
76 8 BCA Wins Best Workplace Award for The Sixth Time in A Row
77 11 BCA Helps Revitalize Cikoneng Bogor Coffee Plantation, Targeting 120% Increase in
Production
78 14 BCA Operational Schedule During Eid al-Adha Holiday
79 17 Forbes Awarded BCA as the Best Bank in Indonesia
80 21 Promote UMKM Product Quality Improvement in Samarinda, BCA Holds a Free Halal
Certification Workshop for 131 Participants
81 25 Jazz Gunung Bromo Returns, BCA has Supported The Event for 16 Years and Provides 15%
Ticket Discounts
82 July 1 Strengthen Automotive Financing, PT BCA Finance and PT BCA Multi Finance Plan to Merge
83 5 Series of 'Bakti BCA' Achievements That Earned Asia's Best CSR Award
84 12 Work-Ready, 10 Individuals with Disabilities Earn BNSP Makeup Artist Certification After
Training at Bakti BCA
85 15 Consistent Contribution to State Revenue, BCA Receives 2024 Taxpayer Award
86 16 Appreciation for Partners, BCA Brings 70 Merchants to Experience the Beauty of the Hijau
Bilebante Tourist Village
87 17 Complementing Customers' Investment Options, BCA launches BIPI Stock Index Mutual Fund
88 18 Consistent In Conducting Blood Donation Drives, BCA Receives Award from PMI Jakarta on
World Blood Donor Day
89 19 Groundbreaking History! Miss Supranational 2024 Winner Harastha Haifa Zahra Arrives in
Indonesia, Welcomed by BCA and YPI
90 19 From Bengkulu to West Papua, BCA Announces Four New Fostered Schools in Bakti BCA
Program
91 20 Continue Synergy with the Capital Market, BCA Signs Agreement as RDN Administrator Bank
and Payment Bank 2024-2029
92 24 BCA's Loans Grew 15.5%, Positive Performance across All Segments
93 24 Participated by over 120 MSMEs in Malang, BCA Holds Halal Certification Workshop to
Improve Product Quality and Market Access
94 25 Preserve Indonesian Traditional Fabrics, BCA Promotes the #InsanBCABerkebaya2024
Movement on National Kebaya Day
95 28 Bakti BCA Supports Cutting-Edge Innovation by Providing an Incubation Room for 15,000
Turtle Eggs
96 29 Held for the Second Time in Banjar City, BCA’s Free Cataract Surgery Program Attracted Over
250 Participants
97 August 2 BCA Directors Perform with Regulators, Bankers, Journalists, and Artists at Ketoprak Financial
Majapahit Ratu Kencono Wungu
98 3 Kantar Named BCA as Southeast Asia’s Most Valuable Brand for 2024
99 3 BCA Named Official Banking Partner for GIGI's 30th Anniversary Concert, Offers 30%
Discount on GIGINFINITY Tickets
100 6 From Festivals to Public Markets! Bakti BCA to Present 'Gebyar BCA Merah Putih: Indonesia
Banget!' at the Prambanan Area
101 7 More than 1,200 Participants, BCA UMKM Fest 2024 Promotes Expansion of Market Access for
Local Entrepreneurs
102 8 Supporting Local Economic Growth and Easing Customer Access, BCA Opens KCP Sumbawa
Besar
103 10 Beasiswa BCA Offers Banking and IT Education with Various Free Facilities: High School/
Vocational School Graduates Apply Soon Before the Deadline!
104 12 BCA Expo is Back! Flooded with Special Promos and Discounts On Independence Month
105 12 Don't Miss Out! Tickets for Cultural Performance “Nusantara: Jiwa Surga Khatulistiwa”
Available Starting August 13, 2024.
478 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
No. Month Date Release Title
106 15 Spread the Chance to Win iPhone 15, BCA Inspires People to Contribute to Indonesia through
the #BuktiBaktiku Competition
107 15 "Representing Indonesia, BCA Received 6 International Awards In a Single Month"
108 16 Hello Arek Suroboyo! BCA Expo Surabaya 2024 Offers Special Interest Rates for Mortgage
Starting from 1.45% and Vehicle Loans Interest Starting from 2.45%
109 16 BCA Expo 2024 Presents the Lowest Interest Rates in History on Independence Day,
Mortgages from 1.45% and Vehicle Loans from 2.45%
110 16 Om Swastiastu, Everyone! BCA Expo 2024 Here in Bali, Offers KPR Special Loans Start from
1.45% and Vehicle from 2.45%.
111 18 Luxury Cars Worth Billions of Rupiah Attract Public Attention At BCA Expo 2024
112 18 Indonesia Raya Anthem and Innovative Independence Day Competition enliven
Independence Day Celebration at BCA Expo 2024
113 18 Various Special Offers from Bakti BCA Assisted MSMEs and BCA Bangga Lokal Bring
Excitement to BCA Expo 2024
114 20 From Es Goyang to Dawet Ireng! Bakti BCA and Pasar Kangen Invite People to Try Dozens of
Traditional Dishes in the Prambanan Area
115 20 Guiding Local Products to Shine Globally, BCA Presents UMKM Indonesia Go Export 2024
116 21 4,400 Plastic Bottle Waste Collected at BCA Expo 2024 for Recycling
117 24 Good News Arek-arek Malang! BCA Offers Special Interest Rates for Mortgages Starting from
1.45% and Vehicle Loans from 2.45%
118 24 Sampurasun Wargi Bandung! BCA Expo 2024 Comes to Bandung with Special Interest Rates
for Home Loan from 1.45% and Motorcycle Loan from 2.45%
119 24 Gebyar BCA Merah Putih: Indonesia Banget,” #BuktiBaktiBCA for Cultural Preservation and
Empowerment of MSMEs
120 26 BCA Wins KEJAR AWARD from OJK, Evidence of Commitment to Support Financial Literacy
Improvement of the Young Generation
121 27 "BCA Business Case Competition 2024 “The Mastermind of Strategic bluprint”,
For Young Generation Show Capabilities in the Digital Era"
122 29 BCA Wealth Summit is Back! Offer Various Gifts, Promos, and Cashback for Investment and
Protection Products
123 29 People's Festival at Prambanan! “Gebyar BCA Merah Putih: Indonesia Banget!” Draws Over
10,000 Visitors
124 30 BCA and KPHL Synergize for The Environment and Local Economy, Wana Wisata Meranti Now
Has a Compost House
125 30 Youngsters, Assemble! BCA Presents BYC Meet The Fest, A Platform for Collaboration
Between Young Customers and Future Entrepreneurs
126 30 Horas! BCA Expo 2024 Comes To Medan, Offers Special Interest Rates Starting From 1.45%
for Mortgages and 2.45% for Vehicle Loans
127 30 BCA Tegal Autoshow 2024 is Back with Special KKB Rates Starting at 2.45% and KSM Rates
Starting at 5.67%
128 31 BCA Kediri Autoshow 2024, Enliven Kediri City with Special Interest Rates Start from 2% for
Vehicle Loans and 1.45% for Mortgages
129 31 Still Ongoing Online, BCA Expo 2024 Offers Bikes Worth As Much As A House
130 September 1 Bakti BCA Invites Students to Connect with Nature Through “Student Goes to Nature” at the
BOSF Orang Utan Conservation Area
131 3 BCA Holds UMKM Indonesia Go Export 2024 in Surabaya, Encouraging Local Businesses to
Enter the Global Market
132 4 National Customer Day 2024, President Director of BCA: “A Moment of Reflection to Serve All
Customer Segments”
133 4 Set in Prambanan Temple, the Cultural Performance Presented by Bakti BCA and Swargaloka
Stunned 1,100 Spectators
134 7 How Are You Semarang? BCA Expo Semarang 2024 Offers Special Interest Rates Starting at
1.45% for Mortgages and 2.45% for Vehicle Loans
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
No. Month Date Release Title
135 9 Featuring Many Experts, BCA Wealth Summit 2024 Successfully Attracts Over 2,000
Customers
136 10 Register Now! Bakti BCA Scholarship Reopens for Undergraduate Students: Offers
Educational Funding and Personal Development Programs
137 10 BCA Partners with Queen Latifa Hospital Yogyakarta, Providing Ambulance to Improve Public
Health Services
138 18 Represent Indonesia, BCA Nominated Again as The World's Most Trusted Bank by Newsweek
Magazine
139 19 BCA Invites 92 Medan MSME’s to Improve Product Quality Through Halal Certificate Workshop
140 21 BCA Director Shares Tips for Success in Navigating Globalization with Atma Jaya Yogyakarta
Students
141 23 Appreciate Loyal Customers, BCA Announces Winners of Gebyar Hadiah BCA Program
142 26 Halo BCA Wins 66 Medals at TBCCI 2024, Defend Grand Champion Title 13 Years in a Row
143 26 East Sumba Weavers Produce Authentic and Eco Friendly Textile with Bakti BCA and
WARLAMI
144 October 2 Wisma BCA Foresta Becomes Indonesia’s First to Earn Green Mark Super Low Energy Building
Certificate for Outstanding Efficiency
145 3 Officially Concluded, BCA Wealth Summit 2024 Successfully Attracts 2 Million Visitors
146 4 Pojok UMKM BCA: Successfully Empowers West Sumatra Businesses
147 10 Offering New Investment Opportunities, BCA Introduces the BISEU Sharia Equity Mutual Fund
148 10 Bring Services Closer to Customers, BCA Opens Kas Mayang Sub-Branch Office in Jambi
149 11 BCA Emerges as Grand Champion at Annual Report Award 2023
150 11 Support Financial and Health Balance, BCA To Launch the ‘Runvestasi’ Virtual Running and
Walking Competition
151 14 Encourage Netizens to Inspire Each Other, #BuktiBaktiku Campaign by Bakti BCA Gathers
Over 1,000 Social Media Posts
152 15 Merchants Can Now Quickly Disburse QRIS Transaction Funds Through BCA, up to 4 Times a
Day!
153 16 Continuing Bukti Bakti Footprint, BCA Held Various Community Empowerment Programs in
Labuan Bajo
154 17 Build Smart Generations, BCA Provides GASING Learning Method Training for 96 Teachers-
Students in West Manggarai
155 22 5 Desa Bakti BCA Captivate International Tourism Industry at the Wonderful Indonesia Travel
Fair 2024
156 22 Expand Investment Choices, BCA and Bahana TCW Launches the BIPA35 Mutual Fund
157 23 Solid Credit Growth across Segments, BCA Net Profit Grew 12.8%
158 26 Wealth Management BCA Goes to Campus at BINUS UNIVERSITY, Encouraging Students to
Manage Finances Wisely
159 27 Reducing the Prevalence of Cataract Blindness in Indonesia, BCA Holds Cataract Surgery in
Cianjur
160 28 First Time Held in North Sulawesi, BCA Berbagi Ilmu Inspires UNSRAT Students to Face the Era
of Change
161 31 Classy! Silver Artisan from Desa Bakti BCA Participates in the Production of TULOLA’s Latest
Jewelry Collection
162 November 5 BCA Announces Gebyar Badan Usaha 2024 Winners, with Cars, Motorcycles, and Hundreds
Gold Prizes
163 8 Inviting Customers to Be Healthy While Earning, BCA Holds Runvestasi
164 8 Presenting to 1,000 UNPAR Students, BCA Vice President Director Emphasizes the Importance
of Innovation to Strive in the Future
165 12 BCA Distributes Interim Cash Dividend of Rp50 per Share
166 13 Officially Opens Indonesia Knowledge Forum 2024, BCA Supports the Strengthening of the
Business Sector Towards Indonesia Emas 2045
167 15 GestureCam Innovation for Disabilities Brings BCA 1st Place in AI Driven Bot Competition 2024
480 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
No. Month Date Release Title
168 16 Packed with Knowledge and Insights from Practitioners and BCA Directors, IKF 2024 Attracts
Over 1,600 Participants
169 16 More Than Just Tuition! 700 Bakti BCA Scholarship Recipients Receive Guidance from BCA
Directors and Najwa Shihab
170 17 BCA Reveals the Key to Become a Dream Workplace
171 24 BCA Directors Embrace Creativity and Life Balance at IKF 2024
172 25 BCA Officially Concludes the Student Project Exhibition Titled Gelar Karya Sekolah Bakti BCA
in 4 Regions
173 26 Bring Home the Title of Miss Cosmo International 2024, Ketut Permata Juliastrid Sari Proudly
Welcomed by BCA and YPI
174 26 BCA Operational Schedule During the Regional Elections Holiday 2024
175 28 BCA Accompanies Taro Village Artisan to Expand Market Access Through TULOLA's Latest Art
Wear Collection
176 30 Concluding Blood Donation Program, BCA Donates More Than 2,100 Blood Bags to PMI
Throughout 2024
177 December 7 Show Outstanding Innovations, BCA Wins 4 Gold Medals at ICQCC 2024 in Sri Lanka
178 8 Runvestasi 2024 Starts Today! BCA Directors and Joe Taslim Encourage Wealth-Life Balance
179 9 Partnering with Indro Warkop and 'Agak Laen' Comedians, BCA Encourages the Public to Stay
Vigilant Against Fraud Schemes
180 11 BCA Collaborated with Singapore Authority to Develop Eco-Friendly Buildings, Wisma BCA
Foresta Recognized as Best Practice Model
181 12 BCA Provides Rp41.2 Trillion in Cash and Holds Discount Party to Welcome Christmas and New
Year 2025
182 12 Encourage the Public to Support National Progress Through SBN Investments, BCA Wins 6
Awards from the Ministry of Finance
183 13 BCA Achieves ISO 27001:2022 International Standard Certification for Data Information
Security Management
184 13 Collaborating with TNI, BCA Distributes Humanitarian Aid for the Eruption of Mount Lewotobi
Laki-Laki in East Flores
185 14 Continuous Innovation Leads to Achievement: BCA Receives 2 Awards at OPEXCON 2024
186 16 Protect Customers from Financial Risks Due to Critical Illness, BCA Life and BCA Launch STAR
Product
187 17 Committed to Support Patimban Toll Road Infrastructure Development, BCA Distributes
Syndicated Loan to Jasa Marga
188 18 BCA and UKDW Officially Launch Virtual Account, Makes Tuition Fee Payment Easier
189 19 BCA Operational Schedule During the Nataru Holiday Period
190 21 Two More MSMEs to Go Export, Bringing the Total Export Value of BCA-Assisted MSMEs to
Rp37 Billion by the End of 2024
191 23 "BCA Signs Women Entrepreneurs Finance Code Commitment, Strengthening Support for
Women Entrepreneurs"
192 24 Enjoy a 30% Discount, It's Time to Visit Desa Bakti BCA This Holiday Season!
5. Correspondence to Financial Service Authority and Indonesian Stock Exchange
BCA’s correspondence with OJK and IDX is part of the implementation of Good Corporate Governance principles,
specifically transparency and accountability. BCA’s correspondence with OJK and IDX in 2024 is as follows:
2024 Annual Report PT Bank Central Asia Tbk 481
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Financial Service Authority
No. Date Letter No. To Subject
1 January 2, 2024 0001/ESG/2024 OJK Capital Market Affiliated Transaction Report
2 January 10, 2024 0003/ESG/2024 OJK Capital Market Affiliated Transaction Report
3 January 12, 2024 0004/ESG/2024 OJK Capital Market Report on Ownership or Any Changes in Share Ownership
of PT Bank Central Asia Tbk
4 January 12, 2024 0005/ESG/2024 OJK Capital Market Report on Ownership or Any Changes in Share Ownership
of PT Bank Central Asia Tbk
5 January 12, 2024 0006/ESG/2024 OJK Capital Market Report on Ownership or Any Changes in Share Ownership
of PT Bank Central Asia Tbk
6 January 12, 2024 0007/ESG/2024 OJK Capital Market Response to Letter OJK No. S-8/PM.211/2024
7 January 16, 2024 0008/ESG/2024 OJK Capital Market Affiliated Transaction Report
8 January 18, 2024 0009/ESG/2024 OJK Capital Market Affiliated Transaction Report
9 January 18, 2024 0010/ESG/2024 OJK Capital Market Affiliated Transaction Report
10 January 23, 2024 0104/DIR/2024 OJK Private Banking Report and Working Paper on Self-Assessment of Good
Supervision Department Corporate Governance Implementation of PT Bank Central
Asia Tbk Second Semester Period 2023
11 January 24, 2024 0106/DIR/2024 OJK Capital Market Notification of AGMS Agenda of PT Bank Central Asia Tbk
12 January 25, 2024 0012/ESG/2024 OJK Capital Market Affiliated Transaction Report
13 January 26, 2024 0013/ESG/2024 OJK Capital Market Submission of Proof of Consolidated Financial Statements
Summary Announcement of PT Bank Central Asia Tbk and
Subsidiaries as of 31 December 2023
14 January 26, 2024 0014/ESG/2024 OJK Private Banking Submission of Proof of Consolidated Financial Statements
Supervision Department Summary Announcement of PT Bank Central Asia Tbk and
Subsidiaries as of 31 December 2023
15 January 26, 2024 0015/ESG/2024 OJK Private Banking Submission of Financial Statements for the Fourth Quarter
Supervision Department of 2023 (audited) PT Bank Central Asia Tbk
16 January 31, 2024 0016/ESG/2024 OJK Capital Market Announcement of the 2024 AGMS of PT Bank Central Asia
Tbk
17 January 31, 2024 0017/ESG/2024 OJK Capital Market Submission of Proof of PT Bank Central Asia Tbk 2024
AGMS Announcement
18 January 31, 2024 0018/ESG/2024 OJK Private Banking Submission of Proof of PT Bank Central Asia Tbk 2024
Supervision Department AGMS Announcement
19 February 7, 2024 0190/DIR/2024 OJK Private Banking Report and Working Paper on Self-Assessment of
Supervision Department Integrated Good Corporate Governance Implementation
of PT Bank Central Asia Tbk Second Semester Period 2023
20 February 15, 2024 0030/ESG/2024 OJK Capital Market Notice of the 2024 AGMS of PT Bank Central Asia Tbk
21 February 15, 2024 0031/ESG/2024 OJK Capital Market Submission of Annual Report & Sustainability Report for
Financial Year 2023
22 February 15, 2024 0032/ESG/2024 OJK Private Banking Submission of Annual Report & Sustainability Report for
Supervision Department Financial Year 2023
23 February 15, 2024 0034/ESG/2024 OJK Capital Market Submission of Proof of PT Bank Central Asia Tbk 2024
AGMS Notice
24 February 15, 2024 0035/ESG/2024 OJK Private Banking Submission of Proof of PT Bank Central Asia Tbk 2024
Supervision Department AGMS Notice
25 February 15, 2024 0036/ESG/2024 OJK Private Banking Submission of Internal Control Report of PT Bank Central
Supervision Department Asia Tbk
26 February 29, 2024 0051/ESG/2024 OJK Capital Market Affiliated Transaction Report
27 March 18, 2024 0057/ESG/2024 OJK Capital Market Submission of the Copy of Deed Certificate of PT Bank
Central Asia Tbk AGMS Minutes
28 March 18, 2024 0058/ESG/2024 OJK Private Banking Submission of the Copy of Deed Certificate of PT Bank
Supervision Department Central Asia Tbk AGMS Minutes
29 March 18, 2024 0059/ESG/2024 OJK Capital Market Submission of Proof of PT Bank Central Asia Tbk AGMS
Summary of Minutes Announcement
30 March 18, 2024 0060/ESG/2024 OJK Private Banking Submission of Proof of PT Bank Central Asia Tbk AGMS
Supervision Department Summary of Minutes Announcement
482 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
No. Date Letter No. To Subject
31 March 18, 2024 0061/ESG/2024 OJK Capital Market Information Disclosure related to Corporate Action - Cash
Dividend for Financial Year 2023
32 March 18, 2024 0062/ESG/2024 OJK Capital Market Submission of Proof of Announcement for Cash Dividend
Distribution
33 March 22, 2024 0063/ESG/2024 OJK Capital Market Report on Ownership or Any Changes in Share Ownership
of PT Bank Central Asia Tbk
34 March 22, 2024 0064/ESG/2024 OJK Capital Market Report on Ownership or Any Changes in Share Ownership
of PT Bank Central Asia Tbk
35 March 22, 2024 0065/ESG/2024 OJK Capital Market Report on Ownership or Any Changes in Share Ownership
of PT Bank Central Asia Tbk
36 March 22, 2024 0066/ESG/2024 OJK Capital Market Report on Ownership or Any Changes in Share Ownership
of PT Bank Central Asia Tbk
37 March 25, 2024 0067/ESG/2024 OJK Capital Market Report on Ownership or Any Changes in Share Ownership
of PT Bank Central Asia Tbk
38 March 25, 2024 0068/ESG/2024 OJK Capital Market Report on Ownership or Any Changes in Share Ownership
of PT Bank Central Asia Tbk
39 March 25, 2024 0069/ESG/2024 OJK Capital Market Report on Ownership or Any Changes in Share Ownership
of PT Bank Central Asia Tbk
40 March 25, 2024 0070/ESG/2024 OJK Capital Market Report on Ownership or Any Changes in Share Ownership
of PT Bank Central Asia Tbk
41 March 25, 2024 0071/ESG/2024 OJK Capital Market Report on Ownership or Any Changes in Share Ownership
of PT Bank Central Asia Tbk
42 March 25, 2024 0072/ESG/2024 OJK Capital Market Report on Ownership or Any Changes in Share Ownership
of PT Bank Central Asia Tbk
43 March 25, 2024 0073/ESG/2024 OJK Capital Market Report on Ownership or Any Changes in Share Ownership
of PT Bank Central Asia Tbk
44 March 26, 2024 0074/ESG/2024 OJK Capital Market Report on Ownership or Any Changes in Share Ownership
of PT Bank Central Asia Tbk
45 March 26, 2024 0075/ESG/2024 OJK Capital Market Report on Ownership or Any Changes in Share Ownership
of PT Bank Central Asia Tbk
46 March 26, 2024 0076/ESG/2024 OJK Capital Market Report on Ownership or Any Changes in Share Ownership
of PT Bank Central Asia Tbk
47 March 26, 2024 0077/ESG/2024 OJK Capital Market Report on Ownership or Any Changes in Share Ownership
of PT Bank Central Asia Tbk
48 April 2, 2024 0079/ESG/2024 OJK Capital Market Affiliated Transaction Report
49 April 5, 2024 0082/ESG/2024 OJK Capital Market Submission of a Copy of the Deed of the Minutes of the
Annual General Meeting of the Shareholders of PT Bank
Central Asia Tbk
50 April 5, 2024 0083/ESG/2024 OJK Private Banking Submission of a Copy of the Deed of the Minutes of the
Supervision Department Annual General Meeting of the Shareholders of PT Bank
Central Asia Tbk
51 April 23, 2024 0085/ESG/2024 OJK Private Banking Submission of Financial Statements for the First Quarter of
Supervision Department 2024 (unaudited) PT Bank Central Asia Tbk
52 April 23, 2024 0478/DIR/2024 OJK Private Banking Submission of Annual Report and Annual Financial
Supervision Department Statements of Subsidiaries of PT Bank Central Asia Tbk for
the Financial Year 2023
53 April 29, 2024 0547/DIR/2024 OJK Private Banking Submission of Annual Report on the Implementation of
Supervision Department Integrated Governance of PT Bank Central Asia Tbk (BCA)
Financial Year 2023
54 May 6, 2024 0087/ESG/2024 OJK Capital Market Affiliated Transaction Report
55 May 15, 2024 0088/ESG/2024 OJK Capital Market Affiliated Transaction Report
56 May 17, 2024 0089/ESG/2024 OJK Capital Market Affiliated Transaction Report
57 May 20, 2024 0090/ESG/2024 OJK Capital Market Affiliated Transaction Report
58 May 30, 2024 0094/ESG/2024 OJK Capital Market Report on Ownership or Any Changes in Share Ownership
of PT Bank Central Asia Tbk
59 June 4, 2024 0096/ESG/2024 OJK Capital Market Affiliated Transaction Report
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
No. Date Letter No. To Subject
60 June 10, 2024 0098/ESG/2024 OJK Capital Market Material Facts or Information Report
61 June 25, 2024 0103/ESG/2024 OJK Capital Market Disclosure of Information related to Affiliated Transactions
62 June 25, 2024 0104/ESG/2024 OJK Capital Market Submission of Proof of Information Disclosure and
Affiliated Transaction Documents
63 June 28, 2024 0105/ESG/2024 OJK Capital Market Affiliated Transaction Report
64 July 4, 2024 0108/ESG/2024 OJK Capital Market Report on Ownership or Any Changes in Share Ownership
of PT Bank Central Asia Tbk
65 July 16, 2024 0109/ESG/2024 OJK Capital Market Affiliated Transaction Report
66 July 24, 2024 0889/DIR/2024 OJK Private Banking Report and Working Paper on Self-Assessment of
Supervision Department Integrated Good Corporate Governance Implementation
of PT Bank Central Asia Tbk First Semester Period 2024
67 July 24, 2024 0890/DIR/2024 OJK Private Banking Report and Working Paper on Self-Assessment of Good
Supervision Department Corporate Governance Implementation of PT Bank Central
Asia Tbk First Semester Period 2024
68 July 25, 2024 0111/ESG/2024 OJK Private Banking Submission of Financial Statements for the Second Quarter
Supervision Department of 2024 (unaudited) PT Bank Central Asia Tbk
69 July 26, 2024 0112/ESG/2024 OJK Private Banking Submission of Proof of Consolidated Financial Statements
Supervision Department Summary Announcement of PT BCA Tbk and Subsidiaries
as of June 30, 2024
70 July 26, 2024 0113/ESG/2024 OJK Capital Market Submission of Proof of Consolidated Financial Statements
Summary Announcement of PT BCA Tbk and Subsidiaries
as of June 30, 2024
71 July 30, 2024 0114/ESG/2024 OJK Capital Market Affiliated Transaction Report
72 August 14, 2024 0128/ESG/2024 OJK Capital Market Affiliated Transaction Report
73 August 20, 2024 0129/ESG/2024 OJK Capital Market Affiliated Transaction Report
74 September 3, 2024 0133/ESG/2024 OJK Capital Market Affiliated Transaction Report
75 September 3, 2024 0134/ESG/2024 OJK Capital Market Material Facts or Information Report
76 September 12, 2024 1146/DIR/2024 OJK Private Banking Information on the Effective Merger of PT BCA Finance and
Supervision Department PT BCA Multi Finance
77 September 18, 2024 1165/DIR/2024 OJK Private Banking Report on Changes in Members of Financial Conglomerate
Supervision Department PT Bank Central Asia Tbk (BCA)
78 September 27, 2024 0135/ESG/2024 OJK Capital Market Affiliated Transaction Report
79 September 27, 2024 0136/ESG/2024 OJK Capital Market Material Facts or Information Report
80 October 2, 2024 0137/ESG/2024 OJK Capital Market Affiliated Transaction Report
81 October 2, 2024 0138/ESG/2024 OJK Capital Market Affiliated Transaction Report
82 October 2, 2024 0139/ESG/2024 OJK Capital Market Affiliated Transaction Report
83 October 8, 2024 0143/ESG/2024 OJK Capital Market Affiliated Transaction Report
84 October 16, 2024 0144/ESG/2024 OJK Capital Market Affiliated Transaction Report
85 October 18, 2024 0146/ESG/2024 OJK Capital Market Affiliated TransactionReport
86 October 24, 2024 0148/ESG/2024 OJK Private Banking Submission of Financial Statements for the Third Quarter of
Supervision Department 2024 (unaudited) PT Bank Central Asia Tbk
87 November 1, 2024 0151/ESG/2024 OJK Capital Market Affiliated Transaction Report
88 November 1, 2024 0152/ESG/2024 OJK Capital Market Affiliated Transaction Report
89 November 1, 2024 0153/ESG/2024 OJK Capital Market Affiliated Transaction Report
90 November 12, 2024 0157/ESG/2024 OJK Capital Market Announcement of Interim Dividend Schedule for Financial
Year 2024
91 November 12, 2024 0158/ESG/2024 OJK Capital Market Disclosure of Information on the Distribution of Interim
Dividends
92 November 20, 2024 0159/ESG/2024 OJK Capital Market Affiliated Transaction Report
93 November 22, 2024 0160/ESG/2024 OJK Capital Market Affiliated Transaction Report
94 December 12, 2024 0169/ESG/2024 OJK Capital Market Affiliated Transaction Report
95 December 13, 2024 0170/ESG/2024 OJK Capital Market Disclosure of information related to the Change of the
Accountant who tasked to perform the audit of the Issuer
or the Public Company
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
No. Date Letter No. To Subject
96 December 13, 2024 0171/ESG/2024 OJK Private Banking Disclosure of information related to the Change of the
Supervision Department Accountant who tasked to perform the audit of the Issuer
or the Public Company
97 December 17, 2024 0172/ESG/2024 OJK Capital Market Disclosure of Information Related to the Resignation of the
President Commissioner
98 December 31, 2024 0174/ESG/2024 OJK Capital Market Affiliated Transaction Report
Indonesia Stock Exchange
No. Date Letter No. To Subject
1 January 4, 2024 0002/ESG/2024 IDX Monthly Report of Securities Holder Registration
2 January 25, 2024 0011/ESG/2024 IDX Material Information or Facts Report Press Release Submission
related to Information of Summary Financial Results Final Year
2023 (audited) PT Bank Central Asia Tbk
3 February 2, 2024 0028/ESG/2024 IDX Monthly Report of Securities Holder Registration
4 March 5, 2024 0052/ESG/2024 IDX Monthly Report of Securities Holder Registration
5 April 2, 2024 0081/ESG/2024 IDX Monthly Report of Securities Holder Registration
6 April 22, 2024 0084/ESG/2024 IDX Press Release Submission related to Information of Summary
Financial Results First Quarter 2024 (unaudited) PT Bank Central
Asia Tbk
7 May 3, 2024 0086/ESG/2024 IDX Monthly Report of Securities Holder Registration
8 June 4, 2024 0097/ESG/2024 IDX Monthly Report of Securities Holder Registration
9 July 3, 2024 0107/ESG/2024 IDX Monthly Report of Securities Holder Registration
10 July 24, 2024 0110/ESG/2024 IDX Press Release Submission related to Information of Summary
Financial Results 2nd Quarter 2024 (unaudited) PT Bank Central
Asia Tbk
11 August 2, 2024 0125/ESG/2024 IDX Monthly Report of Securities Holder Registration
12 August 14, 2024 0127/ESG/2024 IDX 2024 Annual Public Expose Plan Announcement
13 August 23, 2024 0130/ESG/2024 IDX 2024 Public Expose Material Submission
14 September 2, 2024 0131/ESG/2024 IDX 2024 Public Expose Report Disclosure
15 September 3, 2024 0132/ESG/2024 IDX Monthly Report of Securities Holder Registration
16 October 3, 2024 0140/ESG/2024 IDX Monthly Report of Securities Holder Registration
17 October 23, 2024 0147/ESG/2024 IDX Press Release Submission related to Information of Summary
Financial Results 3rd Quarter 2024 (unaudited) PT Bank Central
Asia Tbk
18 November 5, 2024 0156/ESG/2024 IDX Monthly Report of Securities Holder Registration
19 December 4, 2024 0162/ESG/2024 IDX Monthly Report of Securities Holder Registration
6. Internal Communications
Internal communication has an essential role in building BCA’s character and culture, as well as the solidity of the work
team. Internal communication that is smooth, intensive, and effective in disseminating BCA information will accelerate
the processes and mechanisms at all levels, influencing BCA’s overall performance.
The content of information and communication media is critical to internal communication success. Both become one
unit that complements one another in order for the information conveyed to reach employees and be easily understood
and followed up on.
Given the relatively large number of BCA employees spread across Indonesia, BCA recognizes the importance of an
effective and targeted internal communication strategy in order to foster harmonious relationships with all employees
and achieve BCA’s vision and mission.
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
Internal communication media at BCA include: e. Skype for Business and Microsoft Teams
Through the Skype for Business and Microsoft
a. InfoBCA Digital Magazine Teams facilities, BCA employees can collaborate
This e-magazine presents various information and communicate more easily in carrying out their
about BCA, banking products and services, as work, such as sharing files, sending messages
well as information about networks, internal (chatting), and conducting virtual meetings
programs, awards, technology, management, and via Personal Computers (PCs), laptops, mobile
other information that is useful for BCA personnel, phones, and other devices such as modern
with the hope that it can become a medium for gadgets. The Skype for Business and Microsoft
education and socialization, entertainment, and Teams facilities are very useful for matters of
a means for all employees to share knowledge, an urgent nature because incoming messages
experience, and BCA activities. This magazine immediately appear on the monitor screen
can be accessed via the MyBCA internal portal accompanied by incoming message alerts. In
as well as the Instagram highlight feature addition, Skype for Business and Microsoft Teams
@BCASemuaBeres). can be used to send large files or data, host audio,
video, and web conferences with anyone within
b. MyBCA Portal BCA or outside BCA.
BCA also has an internet-based internal
communication portal, MyBCAPortal, that is only f. Internal Events
accessible to BCA internal circles. The Service Internal communication is also built through
Operations Strategy & Development Group, various internal events that are carried out
Information Technology Group, Corporate physically/face to face or virtually, such as:
Communication & Social Responsibility Group, a. BCA Anniversary commemoration activities;
and other work units at head office collaborate b. National Work Meeting;
to manage this internal portal. MyBCA has been c. Bakorseni activities; and
developed for online employment information d. Town Hall/Management and Employee
and administration services, such as health costs, Gathering; and
leave applications, overtime, official travel, e. Various knowledge sharing activities, for
worker data, compensation, appraisal, and so on, example, COP (Community of Practice)
in addition to being a means of delivering BCA activities, BCA Open Source, and so on.
information, work unit programs, socialization of
banking products, services, learning, and other g. Corporate Identity Manual
important information. It is a standardization or guideline for internal
BCA, particularly in the use of the corporate
c. LED Displays logo, various implementations, and corporate
LED Display or Videotron is an internal audio- materials.
visual electronic communication media installed
in strategic locations throughout the building or h. TikTok @BCASemuaBeres and Instagram
within the BCA office. This audio-visual electronic @BCASemuaBeres
media contains BCA information, promotions for Internal communication media is also being
BCA products and services, work unit activities, developed using Instagram and TikTok social
and other important information. media platforms under the account name
@BCASemuaBeres. Internal groups that have
d. E-mail registered as followers are linked to one another
BCA communicates and shares internal and can share information and experiences.
information via e-mail. Another internal
communication that is built via e-mail is the i. Halo SDM
management communication forum. An employee call center facility that serves as a
communication bridge for all information related
to human resources policies. It is hoped that
this facility will provide each employee with the
opportunity to better understand, comprehend
and comply the provisions that apply at BCA.
486 PT Bank Central Asia Tbk 2024 Annual Report
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CODE OF ETHICS organization, including members of the Board of
Directors, members of the Board of Commissioners,
BCA always upholds positive values within all BCA and all BCA employees.
Personnel. Related to this, BCA has and implements the BCA
Code of Ethics, which regulates ethical standards, values, 3. Code of Ethics Related to Anti-Corruption
and principles that must be applied by BCA Personnel as BCA has issued the Decree of the Board of Directors
an elaboration of the BCA culture in implementing Good No. 269/SK/DIR/2021 dated December 31, 2021
Corporate Governance and achieving the vision and concerning Anti-Corruption Policy and Gratification
mission that has been set. Control and Circular Letter No. 336/SE/POL/2022
dated September 15, 2022 concerning Reporting on
The BCA Code of Ethics is formulated to serve as a reference Gratification Control in an effort to prevent corruption
for BCA Personnel in acting and making decisions, so that practices and gratification control within BCA. BCA
they can carry out their daily duties and responsibilities in complies with anticorruption regulations, ensuring
a professional manner. The BCA Code of Ethics serves as that its business activities are conducted prudently
a guideline that sets out expectations for BCA Personnel’s and in accordance with Good Corporate Governance
interactions with customers, shareholders, suppliers, principles. BCA employees commit to implement anti-
partners, the government, and the communities in which corruption culture in all aspects of work.
BCA operates.
The anti-corruption policies set forth in the BCA Code
The main principles of the BCA Code of Ethics are: of Ethics are, among others, to:
1. Professional. a. Ensure that personal interests do not conflict the
2. Integrity. interests of the bank or customers.
3. Excellent team. b. To not abuse position and authority for personal
4. Excellent service. or family interests.
5. Social care. c. To not commit any misconduct that may be
harmful to the professional image and reputation
1. Cores of BCA Code of Ethics of the bank in general.
The main points of BCA’s Code of Ethics covers:
a. Compliance and adherence with all applicable 4. Vendor-Related Code of Conduct
laws and regulations. BCA employees frequently work with vendors
b. Maintaining the reputation of the bank and in performing their duties. Therefore, in order to
safeguard its assets. implement anti-corruption culture, every BCA
c. Maintaining customer and bank data employee must observe the BCA Code of Ethics
confidentiality. related to vendors, which includes the following:
d. Ensuring that personal interests do not conflict a. The reputation of BCA must be maintained while
the interests of the bank or customers. performing duties, including but not limited to:
e. Accurately recording all transactions in 1). Maintaining personal appearance and acting
accordance with applicable provisions. in accordance with proper etiquette and
f. Maintaining and fostering a harmonious working manners (action and speech).
environment and fair competition. 2). To refraining from making excessive
g. To not abuse position and authority for personal concessions during vendor prequalification
or family interests. and vendor invoices verification.
h. Refraining from any misconduct that may be 3). Avoiding any meetings that will influence
harmful to the professional image and reputation task and work decisions.
of the bank in general. b. Avoiding situations in which vendor behavior may
i. Avoiding all forms of gambling or speculative result in personal gain and/or harm to BCA.
activity. c. Maintaining the confidentiality of BCA and vendor
j. Constantly improving knowledge and insight by information obtained in the course of performing
staying current on developments in the banking duties and refrain from using it for personal
industry in particular and the business world in interest.
general. d. Proactively providing information to the
management or authorities if there is any familial
2. Enforcement of the Code of Ethics relationship or affiliation with vendor that may
The BCA Code of Ethics provides a framework of potentially influence objectivity in carrying out
values and ethical standards that must be met, as work.
the personal responsibility of every BCA Personnel.
The BCA Code of Ethics applies to all levels of the
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e. To refrain from profiting from vendors’ mistakes. 6. Enforcement and Sanctions for Code of Ethics
f. To refrain from asking for or accepting any form Violations
of money, presents, gifts, or service facilities, and a. The BCA Code of Ethics is legally binding and must
not commiting to any debt or credit transactions. be understood and implemented firmly by all BCA
g. All money, presents, gifts or service facilities Personnel in order to support the implementation
must be returned in accordance with applicable of Good Corporate Governance principles.
regulations, and proof of return can be provided b. Every year, all BCA employees, including members
by a letter signed by the Work Unit’s Head and a of the Board of Commissioners and members
receipt for the return of goods. of the Board of Directors, make a statement to
h. Always avoid conflicts of interest when dealing comply with BCA Code of Ethics digitally through
with vendors. internal portal MyBCA (for permanent employees)
and e-Form (for workers or employees who
5. Socialization have not received/have problems with domain
BCA makes every effort to ensure that the BCA Code user access). The percentage of Code of Ethics
of Ethics is communicated and distributed to all BCA statement completion in 2024 was 100%.
Personnel. The methods used to socialize the BCA c. Violations of the BCA Code of Ethics are
Code of Ethics are as follows: included in actions that can be reported through
a. The BCA Code of Ethics is set forth in the form whistleblowing facilities, according to the BCA’s
of a Pocket Book that is distributed to all BCA Whistleblowing System implementation policy,
employees. based on the Board of Directors’ Decree No. 146/
b. The BCA Code of Ethics is accessible in the form SK/DIR/2017, dated November 1, 2017.
of e-learning to every BCA employee, including d. If a violation or non-compliance with the
first-time jobbers and pro-hire workers who have BCA Code of Ethics occurs, the violator face
recently joined BCA. sanctions based on the severity of the violation.
c. The BCA Code of Ethics is published on the The following are the sanctions regulated in the
BCA internal portal (MyBCA) and the Corporate Collective Labor Agreement:
Governance Section of the BCA website. • Primary sanctions including verbal warnings,
d. The BCA Code of Ethics is disseminated through reprimand letters, warning letters,
sharing sessions or COP (Community of Practice) demotions, or termination of employment.
in each division or work unit at BCA, among others, • Additional sanctions which may include
related to BCA’s confidentiality provisions, job transfers (rotation), postponement of
position confidentiality, fraud, and other topics. promotions, postponement of wage/salary
e. The BCA Code of Ethics is disseminated through increases, revocation of facilities associated
internal digital publications, which are accessible with the position in question, relinquishment
to all BCA employees at the Head Office, Regional of position, or other sanctions in accordance
Offices, internal displays at Branch Offices, and with applicable legal provisions.
are also posted on internal social media accounts,
such as the Instagram account @bcasemuaberes. BCA’s decision in this regard will be tailored to
the nature and gravity of the violation, as well
as a thorough evaluation of the individual who
committed the violation.
7. Cases of BCA Code of Ethics Violations in 2024
In 2024, there were 217 (two hundred seventeen) cases of violations of the BCA Code of Ethics, with the following
recapitulation:
Number of BCA Code of Conduct Violation Case Settlements in 2024
Year Type of Sanction Total Settlement Status
2024 SP I 187 All cases have been settled in 2024
SP II 4
SP III 26
Note: SP = Warning Letter
488 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
CORPORATE CULTURE 5) Internal training.
6) Internal culture video clips on Plasma TVs
BCA believes that corporate culture plays an important role spread across all BCA branches
in determining BCA’s success in conducting business. All 7) Blims (BCA Internal Digital Library)
this time, BCA has established a culture that includes the 8) Animated videos on BCA social media
following: c. Through internal training/capacity development
programs, including management development
1. BCA Vision and Mission programs or manager development programs,
BCA’s Vision and Mission provide the foundation, career development programs, special forums
direction and guidance for all BCA Personnel in carrying such as the account officer forum, and special
out BCA’s business activities. The Vision and Mission groups such as the project management office.
have been approved by the Board of Directors and
the Board of Commissioners of BCA through Decree 4. Corporate Culture Introduction for New
No. 022/SK/DIR/2006 dated February 23, 2006, Employees
concerning Vision and Mission of PT Bank Central A corporate culture introduction is given to all new
Asia Tbk. BCA’s vision and mission were evaluated by employees at BCA through an induction program
management in 2014 and in 2019 BCA issued a vision that also covers an overview of BCA’s vision, mission,
and mission for the implementation of sustainable and values. An induction class with a fun learning
finance. Based on the mentioned evaluation result, concept is provided, especially for new workers
up to this day, the Vision and Mission are still in line from generations Y and Z, and is an effective way to
with BCA’s strategic direction. A description of BCA’s introduce BCA’s vision, mission, and values.
Vision and Mission is provided in the Company Profile
section. BCA also carries out assessments and monitoring
programs so that all levels of the organization, including
2. BCA Values the Board of Directors, Board of Commissioners, and
a. Customer Focus all employees, understand BCA's Values and Code
Attention/care followed by efforts to provide of Ethics, and implement them effectively to avoid
services to meet specific customer expectations involvement in inappropriate behavior.
and/or needs.
b. Integrity 5. Corporate Culture Introduction for New
A firm attitude of upholding honesty and openness, Members of The Board of Commissioner and/or
followed by consistent and consequential the Board of Directors
actions in roles and duties in various situations Introduction to corporate culture is given to new
and conditions to build customer trust. members of the Board of Commissioners and/or
c. Teamwork Board of Directors through an orientation program for
Interaction, synergy, and collaboration based members of the Board of Commissioners and Board of
on self-understanding and others in order to Directors. The orientation method is as follows:
accomplished organizational goals. • Online and/or offline presentation by the Head
d. Continuous Pursuit of Excellence Office Work Unit (UKKP)
Continuous efforts to achieve the best in order to • Visits to various BCA activity locations
offer value added to customers. • Online and offline meetings and discussions
with other Board of Directors and Board of
3. Socialization of Vision, Mission, and Values Commissioners members to discuss various BCA
In 2024, the socialization program for the Vision, issues or other necessary information
Mission, and Values is implemented as follows: • Examine various BCA resources that are
a. Conduct socialization by involving all work units electronically available (online base).
and all BCA employees in activities/events such A complete discussion of the orientation program can
as: be seen in the Board of Commissioners and the Board
1) Communities of Practice (COP), team of Directors chapter in this Annual Report.
sharing sessions
2) BCA Leader+ Sharing Session
b. Utilizing a variety of corporate media and
communication channels, such as:
1) BCA Vision, Mission and Values Comic
2) Video on BCA’s internal portal.
3) e-learning.
4) e-Magazine Info BCA (BCA’s official internal
social media).
2024 Annual Report PT Bank Central Asia Tbk 489
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
STOCK OWNERSHIP PROGRAM BY 2. Disclosure of the Merger of PT BCA
MANAGEMENT AND/OR EMPLOYEES Multi Finance into PT BCA Finance
THROUGH THE MSOP/ESOP OPTION BCA Subsidiary Company carried out corporate action
in the form of a merger between 2 (two) companies
Throughout 2024, BCA did not have a program to controlled by BCA, namely PT BCA Multi Finance (”BCA
grant stock options to the Board of Directors, Board of Multi Finance”) and PT BCA Finance (”BCA Finance”)
Commissioners or employees. (”Merger”). After the Merger, BCA Finance became
the resulting company.
SHARES BUYBACK
Relationship between Transaction Parties
Buying back shares or bonds is an effort to reduce the BCA Finance and BCA Multi Finance are companies
number of shares or bonds issued by BCA by buying controlled by BCA whose shares are owned by more
back the shares or bonds, with payment procedures than 99% (ninety-nine percent) by BCA, therefore,
carried out in accordance with applicable regulations. In based on Article 6 of OJK Regulation No. 42/
2024, BCA did not buy back BCA shares or bonds. POJK.04/2020, Regarding Affiliated Transactions
and Conflict of Interest Transactions, this Merger
OTHER CORPORATE ACTIONS transaction is an affiliated transaction, which is
sufficient to be reported by BCA to the OJK. The
In 2024, BCA carried out other corporate actions with the implementation of this Merger has no conflict of
following description: interest either between each party carrying out the
Merger or with members of the Board of Directors or
1. Paid-in Deposit to PT Kliring Penjaminan Efek Board of Commissioners.
Indonesia (KPEI)
In the context of BCA’s capital participation in KPEI Merger
related to the establishment and development of This Merger has received approval from the OJK as
a Central Counterparty in the Money Market and stated in letter No. S-6/D.06/2024 dated June 25,
Foreign Exchange Market, on September 25, 2024, 2024, concerning Approval of the Merger Plan of PT
BCA has made a capital deposit to KPEI amounted BCA Finance with PT BCA Multi Finance, as well as
to Rp20,000,000,000.00 (twenty billion Rupiah) for approval of the General Meeting of Shareholders of
subscribing to 2,500 (two thousand five hundred) BCA Finance and BCA Multi Finance.
Series B shares issued by KPEI.
After obtaining the above approvals, BCA Finance and
The objective of BCA’s capital participation in KPEI is BCA Multi Finance signed Deed of Merger No. 135 dated
to support the implementation and development of August 15, 2024, made in the presence of Christina
Central Counterparty in the Money Market and Foreign Dwi Utami, Bachelor of Laws, Master of Humanities,
Exchange Market, as mandated by Law Number 4 of Master of Notary, Notary in the Administrative City
2023 concerning Development and Strengthening of West Jakarta (”Deed of Merger”), which deed
of the Financial Sector, which is a manifestation of has been received and recorded in the Legal Entity
strengthening the legal framework in the financial Administration system of the Ministry of Law and
sector through strengthening financial market Human Rights of the Republic of Indonesia Directorate
infrastructure. General of Legal Administration as stated in letter No.
AHU-AH.01.09-0246695 dated September 1, 2024,
Capital investments carried out by BCA are not material concerning Receipt of Notification of the PT BCA
transactions as regulated in OJK Regulation No. 17/ Finance Company Merger.
POJK.04/2020 concerning Material Transactions and
Changes in Business Activities. Changes to the articles of association and
composition of members of the Board of Directors
BCA has carried out Information Disclosure regarding and Board of Commissioners of BCA Finance after
this transaction on September 27, 2024, via the BCA the Merger as stated in the Deed of Minutes of the
website and the Stock Exchange website (SPE IDX). Extraordinary General Meeting of Shareholders of PT
The aforementioned Information Disclosure can be BCA Finance No. 134 dated August 15, 2024, made
accessed at https://www.bca.co.id/en/tentang- in the presence of Christina Dwi Utami, Bachelor
bca/Hubungan-Investor/Berita-Investor of Laws, Master of Humanities, Master of Notary,
Notary in the Administrative City of West Jakarta,
has been accepted and recorded in the Legal Entity
490 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Administration system of the Ministry of Law and PROVISION OF FUND TO RELATED PARTY
Human Rights of the Republic of Indonesia Directorate AND LARGE EXPOSURE
General of Legal Administration, as stated in letter
No. AHU-AH.01.03-0188043 dated September 1, In accordance with the OJK Regulation concerning the
2024, concerning Receipt of Notification of Changes Implementation of Commercial Bank Governance, Banks
to the Articles of Association of PT BCA Finance and are required to apply the principle of prudence in providing
letter No. AHU-AH.01.09-0246700 dated September funds, at least by implementing the distribution or
1, 2024, concerning Receipt of Notification of diversification of the portfolio of funds provided. Disclosure
Changes to PT BCA Finance Company Data. of the provision of funds to related parties (individuals
In connection with the matters above and in or groups, including the Board of Directors, Board of
accordance with: Commissioners, Bank Executive Officers, and other related
- Article 26 of Law no. 40 of 2007 concerning parties) and the provision of large exposure refers to the
Limited Liability Companies; OJK Circular Letter concerning the Implementation of
- Article 8.1 jo. Article 1 letter (v) Deed of Merger; Governance for Commercial Banks, section Transparency
in the Implementation of Governance. In providing funds to
The Merger was effective on September 1, 2024, related parties and providing large exposures, BCA always
namely the date of publication of the letter of applies the principle of prudence, including determining
acceptance of notification of changes to BCA limits on the provision of funds and large exposures to
Finance’s articles of association in connection with certain parties and/or business groups with the aim of
the Merger from the Minister of Law and Human Rights avoiding bank business failure as a result of funds provision
of the Republic of Indonesia. concentration and increasing the independence of the
Bank's Board of Directors and Board of Commissioners
Since the Merger became effective, BCA Multi regarding potential intervention from related parties and
Finance ended by law without the need for liquidation carried out in accordance with applicable regulations.
action first. Therefore, all assets and liabilities of BCA
Multi Finance are transferred by law to BCA Finance as 1. Policy on Provision of Funds to Related Parties
the result of the Merger. The entire portfolio of Fund Provisions to Related
Parties is set at a maximum of 10% (ten percent) of
In connection with this, In order to comply with the Bank Capital. The provision of funds to related parties
provisions of Article 7 paragraph 2 in conjunction and to debtors in large amounts is always carried out by
with Article 2 OJK Regulation 31/POJK.04/2016 on observing the principle of prudence, through a review
disclosure of Information or Material Facts by Issuers process and mechanisms that are in accordance with
or Public Companies, BCA has carried out Information BCA policy and have complied with OJK provisions
Disclosure on September 3, 2024, via the BCA and applicable laws and regulations, including aspects
website and the Stock Exchange website (SPE IDX). of the Legal Lending Limit (LLL).
The aforementioned Information Disclosure can be
accessed at https://www.bca.co.id/en/tentang- 2. Policy on the Provision of Large Exposure
bca/Hubungan-Investor/Berita-Investor Provision of large exposure refers to the nominal
provision of funds to 1 (one) borrower or 1 (one)
Throughout 2024, BCA did not carry out corporate actions group of borrowers other than Related Parties in the
such as capital investments, stock splits, reverse stocks, amount equal to or greater than 10% (ten percent) of
stock dividends, bonus shares, and changes in the nominal the Bank’s core capital (Tier 1). The provision of large
value of shares. BCA also did not issue new bonds/sukuk. exposure must be analyzed for feasibility in the same
or more prudent manner as the provision of funds to
general debtors. The terms and conditions for funds
provision are consistent with BCA’s credit terms and
procedures.
2024 Annual Report PT Bank Central Asia Tbk 491
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
3. Lending Policy for the Boards of Directors and 4. Implementation of the Provision of Funds to
the Board of Commissioners Related Parties in 2024
BCA already has lending policies for the Board of In 2024, BCA has implemented a policy of providing
Directors and the Board of Commissioners, which are funds to related parties, a policy of providing large
governed by: exposure, and a policy of providing loans to the
• Productive Credit Guidelines and Consumer Board of Directors and the Board of Commissioners in
Credit Guidelines; accordance with applicable regulations, which must
• Policy on Credit Approval Mechanisms for Related comply with the following provisions:
Parties; and • Provision of funds to related parties and plans for
• PT BCA Tbk’s Policy on Basic Bank Credit (KDPB), granting loan to certain large debtors, must be
dated September 22, 2023. decided by the loan officer and approved by the
BCA’s Board of Commissioners independently.
The Board of Directors and Board of Commissioners • Provision of funds to related parties must not
Credit Loan Policy stipulates that credit loans to the conflict with the applicable general lending terms
Board of Directors and Board of Commissioners are and procedures and must continue to generate a
granted on an arm’s length basis and in accordance reasonable profit for BCA.
with applicable general procedures for funds • The policy for determining loan terms for related
provision. parties, particularly the determination of lending
rates and forms and types of collateral, adheres
to BCA’s generally accepted loan provisions.
Routine LLL reporting to OJK or Bank Indonesia is carried out in a timely manner. Throughout 2024, there were no
violations of LLL (Legal Lending Limit). Provision of Funds to Related Parties and to Individual and Group Core Debtors
(Large Exposure) at BCA in 2024:
Total
Fund Provision
Debtor/Group Nominal
To Related Parties 701 Rp9,945,105,205,075.00
To Main Debtors:
• Individual 50 Rp235,860,671,567,164.00
• Group 30 Rp336,445,965,964,081.00
Detailed information containing details of transactions related to Provision of Funds to Related Parties can be found in the
Annual Financial Statement Section Note 46 on Page 682, and page 272 of this Annual Report.
492 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
STRATEGIC PLAN TRANSPARENCY OF FINANCIAL
AND NON-FINANCIAL CONDITIONS
The Board of Commissioners and the Board of Directors are UNDISCLOSED IN OTHER REPORTS
always active in establishing communication and aligning
views on BCA’s business strategy in the banking sector. BCA has policies and procedures in place for implementing
The Board of Commissioners is responsible for directing, financial and non-financial transparency, including
monitoring, and evaluating the implementation of BCA’s referring to:
strategic policies and providing advice to the Board of a. OJK Regulation No. 37/POJK.03/2019 concerning
Directors in accordance with the aims and objectives of Transparency and Bank Report Publication.
BCA’s Articles of Association. b. OJK Regulation No. 29/POJK.04/2016 concerning
Issuers’ or Public Companies’ Annual Reports.
The Board of Directors is responsible for the development c. OJK Regulation No. 14/POJK.04/2022 concerning
process, implementation, including reviewing of BCA’s Periodic Financial Report Submission for Issuers or
strategy to comply with internal policies and applicable Public Companies.
regulations. d. OJK Circular Letter No. 16/SEOJK.04/2021 concerning
the Form and Content of Issuers’ or Public Companies’
In 2024, the Board of Commissioners and the Board of Annual Reports.
Directors have reviewed, monitored, and supervised the
implementation of BCA’s strategy through a Joint Meeting Information on BCA’s financial and non-financial conditions
of the Board of Directors and the Board of Commissioners has been stated clearly and transparently in several
with an agenda regarding Strategic Plan involving related reports, both in print and on the BCA website, including the
work units. following:
BCA has prepared and submitted strategic plans in the form Financial Condition Transparency
of corporate plans and business plans, in accordance with BCA has prepared and presented reports on financial
relevant regulations and provisions. Complete information condition transparency in accordance with the procedures,
regarding the presentation of the BCA Strategic Plan is as types, and scope specified in the applicable OJK Regulation
stated in: provisions, and has submitted them on a monthly, quarterly,
• page 24-35 related to the role of the Board of Directors and annual basis, according to the type of report.
in formulating BCA's strategy and strategic policies
• page 274 related to Prospects, Strategic Priorities and 1. Annual Report
Projections for 2025 a. Annually, BCA prepares and submits an Annual
• page 270 related to Target Achievement in 2024 Report to the OJK, shareholders, and other
• page 274 related to Prospects for the Economy and institutions as required or deemed necessary. The
Banking Sector in 2025 Annual Report contains the following information:
In this Annual Report. 1) An overview of key financial data, such as
a share overview, Board of Commissioners
reports, Board of Directors reports,
company profiles, management analysis,
and discussions regarding business
and financial performance, corporate
governance, corporate social responsibility,
and sustainable finance.
2) Annual Financial Statement audited by PA
and PAF registered with the OJK, prepared
for 1 (one) financial year, and presented with
a comparison of the previous 1 (one) financial
year as well as the start of the previous
comparative year.
3) Statement of the Board of Commissioners
and the Board of Directors’ responsibility
for the accuracy of the Annual Report’s
contents. This is stated on a statement
sheet signed by all members of the Board of
Commissioners and the Board of Directors.
2024 Annual Report PT Bank Central Asia Tbk 493
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
b. The Annual Report is now available on the BCA 1. Transparently publish non-financial conditions to
website at www.bca.co.id. stakeholders, including Routine LLL Reporting to
c. The audited Annual Financial Statement has been OJK, corporate governance information through the
published on the BCA website, www.bca.co.id, BCA Governance Implementation Report, which is
as well as published through Indonesian-language published on the BCA website, and information on
newspapers with widespread circulation in other non-financial conditions that are also made
Indonesia. transparent in Analyst Meetings, Press Conference,
Public Expose and Non-Deal Road Show, and BCA
2. Quarterly Publication Report website in accordance with applicable regulations.
a. The Quarterly Published Reports have been 2. Disclose ownership structure transparency in the
announced in print media (Quarter II and Quarter Annual Report and on the BCA website.
IV) and on the BCA website, www.bca.co.id, 3. Disclose important and relevant information or facts
including reporting the Quarterly Published regarding events, incidents, or facts that may have an
Financial Statements to the OJK or stakeholders in impact on stock exchange prices and/or the decisions
accordance with the applicable OJK Regulation. of investors, potential investors, or other parties with
b. Announcement of Quarterly Published Reports an interest in such information or facts. BCA always
on the BCA website in the form of Quarterly submits information reports or material facts to the
Published Financial Statements and other reports Indonesian Stock Exchange and the BCA website.
maintained for at least the last 5 (five) financial 4. In accordance with OJK provisions regarding
years. Transparency of Bank Product Information and Use
c. Although not required, the announcement of the of Customer Personal Data, BCA has published
Quarterly Published Financial Statement in the information regarding BCA products and/or services in
form of the Consolidated Financial Statement a clear, accurate, and up-to-date manner. Customers
of BCA and Subsidiaries in newspapers (Quarter can easily obtain this information, which is available
II and Quarter IV) and the Financial Statement of in the form of leaflets, brochures, or other written
the BCA Parent Entity in 1 (one) newspaper in the forms at each BCA branch office in easily accessible
form of financial performance infographics is locations, and/or electronic information provided via
carried out. The newspaper used is an Indonesian- the service hotline/call center, the BCA website, and
language printed daily newspaper with a wide BCA’s official social accounts.
circulation in the area where BCA’s headquarters 5. In accordance with OJK provisions governing
are located. The President Director and 1 (one) Customer Complaints and Banking Mediation, BCA
member of the BCA Board of Directors sign the provides and informs customers about procedures
Quarterly Published Financial Statement. for customer complaints and dispute resolution,
including through the BCA website, www.bca.co.id.
3. Monthly Publication Report In addition, BCA customer complaints mediation are
a. BCA has announced the Monthly Published resolved through complaint facilities such as the BCA
Reports on the BCA website, www.bca.co.id, Branch Office or Halo BCA at 1500888, the Halo BCA
including reporting the Monthly Published application, or e-mail Halo BCA@bca.co.id.
Financial Statements to the OJK in accordance 6. Prepare internal reporting that is complete, accurate,
with the applicable OJK Regulation. and on time, supported by an adequate management
b. Announcement of Monthly Published Reports on information system. BCA has a dependable BCA
the BCA website in the form of Monthly Published management information system that is supported
Financial Statement maintained for at least the by competent human resources and an adequate
last 5 (five) financial years. IT security system capable of providing complete,
accurate, and timely information to the Board of
Non-Financial Condition Transparency Directors to aid in BCA’s business decision-making
BCA has prepared and presented reports on the process.
transparency of non-financial conditions in accordance 7. Other information aimed at assisting with information
with the procedures, types, and scope specified in the disclosure, financial education, and community
applicable OJK Regulation provisions, as well as providing service.
and publishing other non-financial condition information,
such as the following:
494 PT Bank Central Asia Tbk 2024 Annual Report
Page 497
Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements FUNDING SOCIAL ACTIVITIES BCA continues to innovate to provide effective and relevant solutions to the environmental and social challenges that society is currently facing. This social and environmental responsibility takes place comprehensively under the program Bakti BCA, which focuses on individual and community empowerment, as well as ecosystem conservation. The Bakti BCA activity program is built around 5 (five) major pillars: • Bakti Pendidikan • Bakti Kesehatan • Desa Bakti BCA • Bakti Budaya • Bakti Lingkungan Aside from these programs, BCA also contributes to social institutions through donations. The complete disclosure of BCA's social activities and the total funding provided for social activities carried out by BCA throughout 2024 is set forth in the separate 2024 BCA Sustainability Report, which is an integral and inseparable part of this Annual Report. The report has been uploaded and can be viewed on the BCA website at www.bca.co.id/en/tentang-bca/keberlanjutan/laporankeberlanjutan. FUNDING POLITICAL ACTIVITIES BCA has a commitment not to fund any political activities in 2024 or in previous years. BCA did not make any contributions and other related expenditures in 2024: • Lobbying, interest representation or similar • Local, regional or national political campaigns/organizations/candidates • Other (e.g. spending related to ballot measures or referendums) • Total contributions and other spending 2024 Annual Report PT Bank Central Asia Tbk 495
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
IMPLEMENTATION OF INTEGRATED GOVERNANCE
In accordance with OJK Regulation concerning the Implementation of Integrated Governance and OJK Circular Letter
No. 15/SEOJK.03/2015 dated May 25, 2015, concerning the Implementation of Integrated Governance for Financial
Conglomerates, BCA (as the Main Entity) has:
• Establish an Integrated Governance Committee;
• Has an Integrated Governance Committee Charter; and
• Add an integrated compliance, integrated internal audit, and integrated risk management functions within BCA’s
governance organs.
Apart from that, BCA has:
• Integrated Governance Committee Charter based on Board of Commissioners Decree No. 121/SK/KOM/2023.
• Corporate Charter based on OJK Regulation No. 45/POJK.03/2020 dated October 14, 2020, concerning Financial
Conglomerates as revoked by OJK Regulation No.30 of 2024 concerning Financial Conglomerates and Parent
Companies of Financial Conglomerates, which has been signed by the Board of Directors of BCA as the Main Entity
and the Board of Directors of FSI members of the BCA Financial Conglomeration
In 2024, BCA, as the Main Entity, implemented Integrated Governance referring to OJK Circular Letter No. 15/
SEOJK.03/2015 concerning the Implementation of Integrated Governance, which also contains the scope of the report on
the implementation of Good Corporate Governance (GCG) as regulated in the provisions applicable to commercial banks.
Self-Assessment Report on Integrated Governance Implementation
Self-Assessment Report on Integrated Governance Implementation for 1 (one) Financial Year
According to the provisions in OJK Regulation concerning the Implementation of Integrated Governance Articles 44 and
45 in Chapter VIII concerning Reporting and OJK Circular Letter No. 15/SEOJK.03/2015 concerning the Implementation
of Integrated Governance for Financial Conglomerates, BCA as the Main Entity is required to prepare and submit regular
integrated governance implementation assessment reports to the OJK.
Integrated Governance implementation is assessed every semester (twice a year). In 2024, as the Main Entity, BCA carried
out an integrated governance implementation self-assessment for Semester I and Semester II. The assessment covers 3
(three) aspects of Integrated Governance, namely Integrated Governance Structure, Process, and Results.
The Integrated Governance implementation assessment includes at least 7 (seven) factors, namely:
1. Implementation of duties and responsibilities of the Main Entity Board of Directors;
2. Implementation of duties and responsibilities of the Main Entity Board of Commissioners;
3. Duties and responsibilities of the Integrated Governance Committee;
4. Duties and responsibilities of the Integrated Compliance Work Unit;
5. Duties and responsibilities of the Integrated Internal Audit Work Unit;
6. Implementation of Integrated Risk Management;
7. Preparation and implementation of Integrated Governance Guidelines.
The results of Integrated Governance implementation self-assessment in Semester I and Semester II 2024 are categorized
as “Rank 1” (“Very Good”).
Results of Self-Assessment of Integrated Governance Implementation
Ranking Ranking Definition
Semester I 1 The Financial Conglomerate has implemented Integrated Governance that is generally
very good. This is reflected in the adequate fulfillment of the implementation of Integrated
Governance principles. In the event of flaws in the implementation of Integrated
Governance are discovered, they are not significant in general and can be immediately
corrected by the Main Entity and/or FSI.
Semester II 1 The Financial Conglomerate has implemented Integrated Governance that is generally
very good. This is reflected in the adequate fulfillment of the implementation of Integrated
Governance principles. In the event of flaws in the implementation of Integrated
Governance are discovered, they are not significant in general and can be immediately
corrected by the Main Entity and/or FSI.
496 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
BCA Financial Conglomerate Structure
BCA Financial Conglomerate Structure as of January 1 – August 31, 2024
The structure of the BCA’s Financial Conglomerate as of January 1 - December 31, 2024 is as follows:
100% 99,576% 99.99995% 75% 75% 99.9997% 90% 90% 99.999997%
BCA Finance 0.424% PT BCA PT Central
0.00005% PT Bank BCA 25% PT Asuransi 25% PT BCA Multi 0.0003% PT BCA PT Asuransi 0.000003% PT Bank
Limited Finance Syariah Umum BCA Finance Capital
Sekuritas Jiwa BCA Digital BCA
100% 100% 100% 100% 100% Ventura
90% 90% 100%
100%
BCA Financial Conglomerate Structure as of September 1, 2024 - December 31, 2024
As of September 1, 2024, in connection with the merger of PT BCA Multi Finance into PT BCA Finance, the share ownership
structure in the BCA Financial Conglomerate is as follows:
100% 99.593% 99.99995% 75% 99.9997% 90% 90% 99.999997%
BCA Finance 0.407% PT BCA PT Central
0.00005% PT Bank BCA 25% PT Asuransi 0.0003% PT BCA PT Asuransi 0.000003% PT Bank
Limited Finance Syariah Umum BCA Capital
Sekuritas Jiwa BCA Digital BCA
100% 100% 100% 100% Ventura
90% 90% 100%
100%
Share Ownership Structure in Financial Conglomerate of BCA
As of December 31, 2024, the share ownership structure in BCA’s Financial Conglomerate is as follows:
• SHARE OWNERSHIP STRUCTURE OF PT BANK CENTRAL ASIA TBK
Robert Budi Hartono Bambang Hartono
(Ultimate Shareholder) (Ultimate Shareholder)
51.00% 49.00%
PT Dwimuria Investama Public
Andalan
54.94% 45.06% *)
Note:
Controlling
Controlling Line
*) In the portion of shares owned by public shareholders as of 31 December
2024, some 2.46% are held by parties affiliated to
PT Dwimuria Investama Andalan. In addition, Commissioners and Directors
own 0.14% of BCA shares
2024 Annual Report PT Bank Central Asia Tbk 497
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
• SHARE OWNERSHIP STRUCTURE OF BCA FINANCE • SHARE OWNERSHIP STRUCTURE OF PT BANK BCA
LIMITED AS OF DECEMBER 31, 2024 SYARIAH AS OF DECEMBER 31, 2024
PT Bank Central Asia Tbk
PT Bank Central Asia Tbk
100%
99.9999% 99.593% BCA Finance 100%
Limited
100%
0.407%
PT BCA Finance
100%
BCA Finance Limited 0.00001%
PT Bank BCA Syariah
• SHARE OWNERSHIP STRUCTURE OF PT BCA FINANCE
January 1 – August 31, 2024 As of September 1, 2024*)
PT Bank Central Asia Tbk PT Bank Central Asia Tbk
100% 100%
99.576% BCA Finance Limited
100% 99.593% BCA Finance Limited
100%
0.424% 0.407%
PT BCA Finance PT BCA Finance
*) Effective date of merger of PT BCA Multi Finance into PT BCA
• SHARE OWNERSHIP STRUCTURE OF PT ASURANSI • SHARE OWNERSHIP STRUCTURE OF PT BCA MULTI
UMUM BCA AS OF DECEMBER 31, 2024 FINANCE AS OF JANUARY 1 – AUGUST 31, 2024**)
PT Bank Central Asia Tbk PT Bank Central Asia Tbk
100% 100%
75% 99.593% BCA Finance Limited 75% 99.576% BCA Finance 100%
Limited
0.407% 0.424%
PT BCA Finance
100% PT BCA Finance
100%
25% 25%
PT Asuransi Umum BCA PT BCA Multi Finance
**) As of September 1, 2024, PT BCA Multi Finance effectively merged into PT BCA Finance.
498 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
• SHARE OWNERSHIP STRUCTURE OF PT CENTRAL • SHARE OWNERSHIP STRUCTURE OF PT BCA
CAPITAL VENTURA AS OF DECEMBER 31, 2024 SEKURITAS AS OF DECEMBER 31, 2024
PT Bank Central Asia Tbk
PT Bank Central Asia Tbk Chandra Adisusanto
100%
99.99975% 99.593% BCA Finance Limited 90% 10%
0.407%
PT BCA Finance
100% PT BCA Sekuritas
0.00025%
PT Central Capital Ventura
• SHARE OWNERSHIP STRUCTURE OF PT ASURANSI • SHARE OWNERSHIP STRUCTURE OF PT BANK DIGITAL
JIWA BCA AS OF DECEMBER 31, 2024 BCA AS OF DECEMBER 31, 2024
PT Bank Central Asia Tbk
PT Bank Central Asia Tbk Chandra Adisusanto
100%
90% 10% 99.9999975% 99.593% BCA Finance Limited
0.407%
PT Asuransi Jiwa BCA PT BCA Finance
100%
0.0000025%
PT Bank Digital BCA
Management Structure in Financial Conglomerate of BCA
Management Structure in the Main Entity
MANAGEMENT STRUCTURE OF PT BANK CENTRAL ASIA TBK (MAIN ENTITY) AS OF DECEMBER 31, 2024
BOARD OF COMMISSIONERS
Position Name
President Commissioner Djohan Emir Setijoso
Commissioner Tonny Kusnadi
Independent Commissioner Cyrillus Harinowo
Independent Commissioner Raden Pardede
Independent Commissioner Sumantri Slamet
2024 Annual Report PT Bank Central Asia Tbk 499
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BOARD OF DIRECTORS
Position Name
President Director Jahja Setiaatmadja
Deputy President Director 1 Gregory Hendra Lembong
Deputy President Director 2 Armand Wahyudi Hartono
Director Tan Ho Hien/Subur atau Subur Tan
Director Rudy Susanto
Director (concurrently Director in charge of the Compliance Lianawaty Suwono
function)
Director Santoso
Director Vera Eve Lim
Director Haryanto T. Budiman
Director Frengky Chandra Kusuma
Director John Kosasih
Director Antonius Widodo Mulyono
Main Entity Board of Commissioners and Board of Directors Duties and Responsibilities
1. Duties and responsibilities of the Main Entity’s Board of Commissioners
a. Supervise the implementation of Integrated Governance.
b. In order to supervise the implementation of Integrated Governance as mentioned above, at least:
1) Supervise the implementation of governance in each Subsidiary so that it is in accordance with the Integrated
Governance Guidelines;
2) Supervise the implementation of duties and responsibilities of the Main Entity’s Board of Directors, as well as
provide directions or advice to the Main Entity Board of Directors on the implementation of the Integrated
Governance Guidelines; and
3) Evaluate the Integrated Governance Guidelines and direct their implementation for improvement
c. Hold regular meetings at least once every semester. Meetings can be held via video conference.
d. Stated results of the meeting in the minutes of meeting and documented properly, as well as clearly stating the
dissenting opinion that occurred at the meeting in the minutes of meeting along with the reasons for the dissent.
e. Form the Integrated Governance Committee.
2. Duties and responsibilities of the Main Entity Board of Directors.
a. Ensure the implementation of Integrated Governance in the Financial Conglomeration.
b. In order to ensure Integrated Governance implementation as mentioned above, at least:
1) Formulate Integrated Governance Guidelines;
2) Direct, monitor, and evaluate the implementation of Integrated Governance Guidelines; and
3) Follow up on the directions or advice of the Main Entity’s Board of Commissioners in order to improve
Integrated Governance Guidelines.
c. Ensure that audit findings and recommendations from the Integrated Internal Audit Work Unit, external auditors,
and results of OJK supervision and/or monitoring results from other authorities have been followed-up by
Subsidiaries.
Management Structure of FSI in the Financial Conglomerate of BCA
MANAGEMENT STRUCTURE OF BCA FINANCE LIMITED AS OF DECEMBER 31, 2024
BOARD OF DIRECTORS
Position Name
Director Andy Kwok Sau Lai
Director Fanny Surjadi
Director Janto Havianto
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MANAGEMENT STRUCTURE OF PT BCA FINANCE AS OF JANUARY 1 – AUGUST 31, 2024
BOARD OF COMMISSIONERS BOARD OF DIRECTORS
Position Name Position Name
President Commissioner Suwignyo Budiman President Director Roni Haslim
Commissioner David Hamdan Director Petrus Santoso Karim
Independent Commissioner Sulistiyowati Director Lim Handoyo
Director Sugito Lie
Director Liston Nainggolan
Director Tan, Widy Tarmizi*)
*) Effective serving from May 2, 2024
MANAGEMENT STRUCTURE OF PT BCA FINANCE AS OF SEPTEMBER 1, 2024*)
*) Effective date of merger of PT BCA Multi Finance into PT BCA.
BOARD OF COMMISSIONERS BOARD OF DIRECTORS
Position Name Position Name
President Commissioner Suwignyo Budiman President Director Roni Haslim
Commissioner David Hamdan Director Petrus Santoso Karim
Independent Commissioner Sulistiyowati Director Lim Handoyo
Director Sugito Lie
Director Liston Nainggolan
Director Tan, Widy Tarmizi
Director Herwandi Kuswanto
MANAGEMENT STRUCTURE OF PT BANK BCA SYARIAH AS OF DECEMBER 31, 2024
BOARD OF COMMISSIONERS BOARD OF DIRECTORS
Position Name Position Name
President Commissioner Ratna Yanti President Director Yuli Melati Suryaningrum
Commissioner Rickyadi Widjaja Director in Charge of Houda Muljanti
Compliance Function
Independent Commissioner Inge Setiawati Director Pranata
Director Lukman Hadiwijaya
Director Ina Widjaja
SHARIA SUPERVISORY BOARD
Position Name
Chairman Prof. DR. H. Fathurrahman Djamil, MA
Member Sutedjo Prihatono
MANAGEMENT STRUCTURE OF PT ASURANSI UMUM BCA AS OF DECEMBER 31, 2024
BOARD OF COMMISSIONERS BOARD OF DIRECTORS
Position Name Position Name
President Commissioner Petrus Santoso Karim President Director Hendro Hadinoto Wenan
Commissioner Jacobus Sindu Adisuwono Director Antonius
Independent Commissioner Gustiono Kustianto Director Sri Angraini
Independent Commissioner Gunawan Budi Santoso Director Erik Surjadi*)
Director of Compliance Arif Singgih Halim Wijaya
*) Effective serving from May 1, 2024
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MANAGEMENT STRUCTURE OF PT BCA MULTI FINANCE AS OF JANUARY 1 – AUGUST 31, 2024***)
***) As of September 1, 2024, PT BCA Multi Dinance effectively merged into PT BCA Finance
BOARD OF COMMISSIONERS BOARD OF DIRECTORS
Position Name Position Name
President Commissioner Roni Haslim President Director Herwandi Kuswanto
Commissioner Hermanto Director Adhi Purnama
Independent Commissioner Mathilda Simon Director Suiman Agung
Director Rudy Setiawan*)
*) Has effectively resigned from his position as Director of PT BCA Multi Finance
on May 30, 2024.
MANAGEMENT STRUCTURE OF PT CENTRAL CAPITAL VENTURA
BOARD OF COMMISSIONERS BOARD OF DIRECTORS
Position Name Position Name
Commissioner Jan Hendra President Director Armand Widjaja
Director Adi Prasetyo Susilo
MANAGEMENT STRUCTURE OF PT BCA SEKURITAS AS OF DECEMBER 31, 2024
BOARD OF COMMISSIONERS BOARD OF DIRECTORS
Position Name Position Name
President Commissioner Dharwin Yuwono President Director Mardi Henko Sutanto
Independent Commissioner Ir. Hendra Iskandar Lubis Director Imelda Arismunandar
MANAGEMENT STRUCTURE OF PT ASURANSI JIWA BCA AS OF DECEMBER 31, 2024
BOARD OF COMMISSIONERS BOARD OF DIRECTORS
Position Name Position Name
President Commissioner Hariyanto President Director Christina Wahjuni Setyabudhi
Commissioner Ugahary Yovvy Chandra*) Director Yannes Chandra
Commissioner Mathilda Simon **)
Director of Compliance Ir. Sukawati Lubis
Independent Commissioner Pudjianto Director Eva Agrayani Tjong
Independent Commissioner Hardjono
*) Served until September 3, 2024
**) Effective serving from September 3, 2024
MANAGEMENT STRUCTURE OF PT BANK DIGITAL BCA AS OF DECEMBER 31, 2024
BOARD OF COMMISSIONERS BOARD OF DIRECTORS
Position Name Position Name
President Commissioner Theresia Endang Ratnawati President Director Lanny Budiati
Independent Commissioner Ina Suwandi Director Iman Sentosa
Independent Commissioner Daniel Gunawan Director of Compliance Nugroho Budiman
Duties and responsibilities of the Board of Commissioners, the Board of Directors, and the Sharia Supervisory Board of
FSI in Financial Conglomerate of BCA
1. The duties and responsibilities of the Board of Commissioners of FSI in BCA’s Financial Conglomerate include at least
the following:
a. Supervise the implementation of the governance, duties, and responsibilities of the Board of Directors and follow
up on audit results from internal and external parties;
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
b. Form committees or appoint parties to carry b. Follow up on audit results by internal and external
out functions that support the Board of parties;
Commissioners’ duties and responsibilities, at c. Set out work rules; and
least audit monitoring committees or functions d. Organize meetings of the Board of Directors that
and compliance monitoring committees or at least include procedures for decision-making
functions; and meeting documentation.
c. Hold Board of Commissioners meetings that 3. The duties and responsibilities of the FSI’s Sharia
include at least the frequency, attendance, and Supervisory Board in BCA’s Financial Conglomerate,
decision-making procedures; and include at least the following:
d. Set out work rules for the Board of Commissioners. a. Provide advice and suggestions to the Board of
2. The duties and responsibilities of the FSI’s Board of Directors and supervise the activities of Bank
Directors in BCA’s Financial Conglomerate include at BCA Syariah so that they comply with Sharia
least the following: Principles; and
a. Implement the principles of Subsidiary b. Set out work rules for the Sharia Supervisory
Governance; Board.
Integrated Governance Structure in the BCA Financial Conglomerate
Internal Audit Risk Management
Entity IG Committee*) Compliance Function
Function Function
PT BCA Tbk (Main Entity)**) √ √ √ √
BCA Finance Limited - √ √ √
PT BCA Finance - √ √ √
PT Bank BCA Syariah - √ √ √
PT Asuransi Umum BCA - √ √ √
PT BCA Multi Finance ***)
- √ √ √
PT Central Capital Ventura - √ √ √
PT BCA Sekuritas - √ √ √
PT Asuransi Jiwa BCA - √ √ √
PT Bank Digital BCA - √ √ √
*) The IG Committee must only be formed in the Main Entity with members including representatives of Independent Commissioners and/or members of the Sharia
Supervisory Board from each FSI in the BCA Financial Conglomerate.
**) BCA as the main entity has an Integrated Compliance function, Integrated Internal Audit function and Integrated Risk Management function.
**) PT BCA Multi Finance has merged into PT BCA Finance on September 1, 2024.
Integrated Governance Committee • Integrated Compliance Work Unit
Based on the Decree of the Board of Commissioners No. BCA, as the Main Entity in the BCA Financial
037/SK/KOM/2015 concerning the Establishment of the Conglomeration, has added an integrated
Integrated Governance Committee dated February 26, compliance function within the Compliance Division
2015, BCA has formed IGC consisting of representatives (DCP) organization to monitor and evaluate the
of BCA Independent Commissioners, Independent Parties, implementation of the compliance function at each
and all representatives of Independent Commissioners FSI in the BCA Financial Conglomeration through
and/or Members of the Sharia Supervisory Board of coordination with the compliance function in each
Subsidiaries. The IGC is tasked with assisting the Board of Subsidiary Company.
Commissioners of BCA as the Main Entity in supervising
the implementation of Integrated Governance in BCA’s The Integrated DCP has the following duties and
Financial Conglomeration. responsibilities:
a. Monitor and evaluate compliance function
In 2024, adjustments have been made to the IGC members implementation in each Subsidiary Company.
due to changes in the composition of the Subsidiary’s b. in the context of implementing the integrated
Board of Commissioners. compliance risk management, develop the
methods and processes required.
More information regarding the IGC can be seen on page c. In the context of implementing integrated risk
388 of the Integrated Governance Committee section of management, assess and develop an integrated
this Annual Report. compliance risk profile.
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d. Prepare and submit reports to the Main Entity an integrated internal audit report to the Director
Compliance Director on the implementation of appointed to carry out the supervisory function of
integrated compliance duties and responsibilities. FSI in the Financial Conglomerate and the Board
Afterwards, the Main Entity’s Compliance Director of Commissioners of the Main Entity, as well as the
prepares and submits a report to the Main Entity’s Director who supervises the function of Main Entity
Board of Directors and Board of Commissioners compliance.
on the implementation of integrated compliance
duties and responsibilities. • Implementation of Integrated Risk Management
In accordance with OJK Regulation concerning the
In 2024, BCA carried out the following activities Implementation of Integrated Risk Management, BCA
related to the implementation of the integrated and Subsidiaries in the Financial Conglomerate of BCA
compliance function, as referenced on page 433 in have implemented integrated risk management in a
the 2024 Compliance Function Work Implementation, comprehensive and effective manner in accordance
Compliance Function Chapter of this Annual Report. with the characteristics and complexity of the
Financial Conglomerate business.
• Integrated Internal Audit Work Unit
BCA has an Integrated Internal Audit Work Unit In order to implement integrated risk management,
function, which is carried out by the Internal BCA, as the Main Entity, has formed an Integrated
Audit Division, guided by OJK Regulation No. 1/ Risk Management Committee (IRMC) and added an
POJK.03/2019 dated January 28, 2019, concerning integrated risk management function to the Risk
Implementation of the Internal Audit Function in Management Division organization.
Commercial Banks, and OJK Regulation concerning • The IRMC consists of the Director of BCA, who
the Implementation of Integrated Governance in order is in charge of the integrated risk management
to support the Financial Conglomeration. To monitor function as chairman, all members of the Board
the implementation of the internal audit function of Directors of BCA, several other relevant BCA
at each FSI in the BCA Financial Conglomerate and senior managements, as well as the Director
provide recommendations that have added value. of Subsidiaries as a representative of FSI in the
BCA Financial Conglomerate. More information
The Integrated Internal Audit Work Unit has the regarding the IRMC can be seen on page 404
following duties and responsibilities: of the Integrated Risk Management Committee
a. Assess the adequacy and effectiveness of section of this Annual Report.
risk management processes, internal control, • In carrying out its functions, IRMC is also
and governance of Subsidiaries, and provide supported by an integrated risk management
recommendations for improvement. function within the Risk Management Division
b. Monitor the implementation of internal audits at organization to ensure that the risks faced by the
each Subsidiary. Main Entity and Subsidiaries can be identified,
c. Monitor and evaluate the adequacy of corrective measured, monitored, controlled, and reported
follow-up on the internal/external/regulator audit integratedly in accordance with the risk
results, and report them to the Board of Directors, management framework, as well as dealing with
Board of Commissioners and Main Entity Audit emergency situations that threaten the bank’s
Committee. business continuity.
d. Submit an integrated internal audit report
to the Director appointed to carry out the In 2024, BCA carried out the following activities in
oversight function of Subsidiaries, the Board of relation to the implementation of integrated risk
Commissioners and the Director in charge of the management, as referred to on page 406 of the
compliance function of the Main Entity. 2024 Work Program Realization Section of the IRMC
e. Provide support to Subsidiaries in developing the Sub-Chapter of the Committee under the Board of
internal audit function. Directors chapter of this Annual Report.
The implementation of the integrated internal audit More information regarding the implementation of
function in the BCA financial conglomerate includes integrated risk management can be found on page
assurance, monitoring/alignment and support/ 437 of the Risk Management System section of this
development activities that are reported through Annual Report.
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
Intra-Group Transaction Policy 2) Evaluate the Board of Directors’
As the Main Entity of the Financial Conglomerate, BCA accountability and provide guidance for
is required to manage intra-group transaction risk and improvement of the implementation of intra-
monitor intra-group transactions in an integrated manner. group transaction risk management policies.
b. The authorities and responsibilities of the Board
Definition of Intra-Group Transaction Risk of Directors in managing intra-group transaction
Intra-group transaction risk is the risk resulting from the risk include the following:
dependence of an entity, either directly or indirectly, 1) Understand the risks of intra-group
toward other entities in a Financial Conglomerate in order transactions inherent in the Financial
to fulfill written and unwritten agreement obligations Conglomeration.
followed by a transfer of funds and/or not followed 2) Develop and establish intra-group
by a transfer of funds. transaction risk management policies.
3) Accountable for implementing intragroup
Objectives of Intra-Group Transaction Risk Management transaction risk management.
The main objectives of intra-group transaction risk 4) Ensure that each entity in the Financial
management are: Conglomerate implements intragroup
a. Regulate and supervise intra-group transactions transaction risk management.
based on the principle of prudence. 5) Monitor the risk of intra-group transactions
b. Ensure that the risk management process can minimize on a regular basis.
the possibility of negative impacts resulting from the 6) Develop a risk culture as part of the
dependence of an FSI, either directly or indirectly, implementation of intra-group transaction
toward other FSIs in a Financial Conglomerate. risk management.
7) Ensuring that the implementation of intra-
Intra-Group Transaction Risk group transaction risk management is free
Intra-group transaction risks may arise, among other from: from conflicts of interest between the
a. Cross-ownership among FSI in the Financial Financial Conglomerate and individual FSI.
Conglomerate.
b. Centralized short-term liquidity management. 2. Adequacy of Policies, Procedures and Determination
c. Collateral, loans, and commitments given or of Intra-Group Transaction Risk Limits
obtained by an FSI from another FSI in the Financial Determination of intra-group transaction policies,
Conglomerate. procedures, and risk limits, taking into consideration
d. Exposures to controlling shareholders, including loan the following factors:
and off-balance sheet exposures, such as collateral a. The financial conglomerates must ensure
and commitments. compliance with the arm’s length principle
e. Purchase or sale of assets to other FSI in a Financial (transaction fairness) pertaining to intra-group
Conglomerate. transactions
f. Transfer of risk through reinsurance. b. The level of risk to be taken (risk appetite) and
g. Transactions to divert third party risk exposure among the level of risk tolerance must be in line with the
FSI in the Financial Conglomerate. Financial Conglomerate’s business strategy, risk
profile, and capital plan.
Scope of Intra-Group Transaction Risk Management c. Intra-group transaction policies and limits
Policy are in accordance with applicable regulatory
The implementation of intra-group risk management in the provisions.
Financial Conglomerate includes: d. The intra-group transaction risk management
procedures must include at least the following:
1. Oversight of the Board of Commissioners and the 1) Accountability and clear levels of delegation
Board of Directors of authority in intragroup transaction risk
Oversight by the Board of Commissioners and management implementation.
the Board of Directors is required to ensure the 2) Review of procedures in a regular basis
effectiveness of intra-group transaction risk 3) Adequate procedure documentation,
management implementation and compliance with namely written documentation that is
applicable regulations. complete and allows for an easy audit trail.
a. The Board of Commissioners’ authorities and
responsibilities in implementing intra-group
transaction risk management include:
1) Approve the intra-group transaction risk
management policy.
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
3. Adequacy of Risk Identification, Measurement, a. Refers to the established policies and procedures.
Monitoring and Control Processes, as well as Intra- b. The internal control system is developed to
Group Transaction Risk Management Information ensure:
Systems 1) Compliance with internal policies or
BCA, as the Main Entity, is required to carry out provisions as well as laws and regulations.
an integrated process of identifying, measuring, 2) The effectiveness of the risk culture in the
monitoring, and controlling risks for all significant Financial Conglomerate as a whole for
risk factors, taking into consideration the following early identification of flaws and deviations
factors: and continuously reassessing the fairness
a. The Financial Conglomerate’s intra-group of existing policies and procedures in the
transaction composition. Financial Conglomerate.
b. Transaction documentation and fairness c. Review of the measurement of intra-group
c. Comply with legal and regulatory provisions. transaction risk, which at least covering:
d. Other significant information 1) Conformity of policies, organizational
structure, allocation of resources, design
The implementation is also supported by an intra- of intergroup transaction risk management
group transaction risk management information processes, information systems, and risk
system, which includes an intra-group transaction reporting according to the business needs
risk profile report as part of the Integrated Risk Profile of the Financial Conglomeration, as well as
Report. the development of regulations and best
practices related to intergroup transaction
4. Comprehensive Internal Control System for Intra- risk management.
Group Transaction Risk Management Implementation 2) Complete and adequate documentation of
A comprehensive internal control system is required coverage, operational procedures, audit
to supplement the process of implementing effective findings, and the Financial Conglomerate
intra-group transaction risk management. management responses based on the audit
results.
BCA is required to implement an effective internal
control system for intra-group transaction risk with
the following provisions:
506 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
INFORMATION RELATED TO THE FULFILLMENT OF CORPORATE GOVERNANCE
IMPLEMENTATION
1. OJK Regulation No. 17 of 2023 on the Implementation of Governance for Commercial Banks
In the context of implementing OJK Regulation No.17 of 2023 on the Implementation of Governance for Commercial
Banks (“OJK Regulation No. 17/2023”), the Company strives to always realize the implementation of Good Corporate
Governance. The implementation of Good Corporate Governance as regulated in Article 2 of OJK Regulation No.
17/2023 includes the following:
a. implementation of duties, Can be seen in the Board of Directors Chapter on page 328 of this Annual Report.
responsibilities, and authority of the
Board of Directors
b. implementation of duties, Can be seen in the Board of Commissioners Chapter on page 314 of this Annual
responsibilities, and authorities of Report.
the Board of Commissioners
c. completeness and implementation Can be seen in the Board of Commissioners Committee and the Executive
of committee duties Committee of the Board of Directors chapter on page 371 and 397 of this Annual
Report.
d. handling of conflicts of interest Members of the Board of Directors, members of the Board of Commissioners,
committee members, Executive Officers, and employees of BCA always strive
to avoid any form of conflict of interest in carrying out BCA's management and
supervision duties.
Policies related to conflicts of interest are outlined in the Articles of Association,
the Decree of the Board of Directors regarding Provisions on Conflict of Interest,
and the Decree of the Board of Directors regarding Affiliated Transactions
and Conflict of Interest Transactions, and can be seen in the Introduction and
Affiliated Transactions and Conflict of Interest Transactions chapters on page
457 of this Annual Report.
e. implementation of compliance Can be seen in the Compliance Function Chapter on page 433 of this Annual
function Report.
f. implementation of internal audit Can be seen in the Internal Audit Unit Chapter on page 426 of this Annual Report.
function
g. implementation of external audit Can be seen in the Public Accountant Chapter (External Audit) on page 430 of this
function Annual Report.
h. implementation of risk management Can be seen in the Risk Management Implementation Chapter on page 437 of this
including internal control system Annual Report.
i. provision of remuneration Can be seen in the Remuneration Policy Chapter on page 365 of this Annual Report.
j. provision of funds to related parties Can be seen in the Provision of Funds to Related Parties and Provision of Large
and provision of large exposure Exposure Chapter on page 491 of this Annual Report.
k. integrity of reporting and • BCA always provides transparency of financial and non-financial conditions
information technology system to stakeholders by compiling and presenting reports in a manner and scope in
accordance with OJK provisions and with information delivery facilities that
BCA can rely on.
• BCA has published information about BCA products and/or services
clearly, accurately, and up-to-date in accordance with OJK provisions on
Transparency of Bank Product Information and Use of Customer Personal
Data.
• BCA has compiled a Sustainability Report that can be easily accessed by
the public on the BCA website at https://www.bca.co.id/en/tentang-bca/
Keberlanjutan/laporan-keberlanjutan.
• BCA has compiled and submitted structured and unstructured reports to
the Financial Services Authority in accordance with the Financial Services
Authority Regulation regarding reporting of general banks through the
Financial Services Authority reporting system.
• BCA has compiled complete, accurate, and timely internal reporting
supported by an adequate management information system. BCA has a
reliable BCA management information system supported by competent
human resources and an adequate IT security system that is able to provide
complete, accurate, and timely information to the Board of Directors to be
used in supporting BCA's business decision-making process.
Further explanation regarding reporting integrity and information technology
systems can be seen in Financial Transparency and Non-Financial Transparency
on page 493 of this Annual Report.
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l. Bank's strategic plan Can be seen in Chapter Bank's Strategic Plan, on page 493 of this Annual Report.
m. shareholder aspect • BCA has a dividend policy and communicates the dividend policy to
shareholders by uploading it to the BCA website at https://www.bca.co.id/
id/tentang-bca/tata-kelola/acgs/kebijakan-gcg
• BCA ensures fair treatment of all shareholders and protects shareholder
rights and facilitates shareholder and stakeholder participation and manages
communication in its implementation. Further explanation can be seen in the
GMS Chapter on page 299 of this Annual Report.
• BCA has an Insider Trading policy
• In carrying out corporate actions, BCA always adheres to applicable
provisions and procedures and ensures that transactions occur transparently
and fairly and protect shareholder rights.
• BCA has an internal policy regarding capital participation.
n. implementation of anti-fraud Can be seen in chapter Implementation of Anti Fraud Strategy, on page 449 of
strategy, including anti-bribery this Annual Report.
o. implementation of sustainable • BCA has implemented sustainable finance in its business activities and
finance, including implementation prepared sustainable finance action plan.
of social and environmental • BCA implements business practices and investment strategies by
responsibility considering, implementing, and integrating environmental, social, and
governance values.
• Policies related to climate risk are presented in the BCA Sustainability Report.
• Explanations related to the implementation of sustainable finance, including
the implementation of further social and environmental responsibilities, can
be seen in the Sustainability Report and can be accessed at https://www.
bca.co.id/en/tentang-bca/Keberlanjutan/laporan-keberlanjutan
p. implementation of governance Can be seen in Chapter Implementation of Integrated Governance, on page 496
within the Bank's business group. of this Annual Report.
2. Implementation of Public Company Governance Guidelines (OJK Circular Letter Recommendation
No.32/SEOJK.04/2015)
BCA has complied with the implementation of Public Company Governance guidelines in accordance with Article 3 of
of OJK Regulation No. 21/POJK.04/2015 concerning Implementation of Public Company Governance Guidelines. In this
Annual Report, BCA discloses information regarding the implementation of the recommendations in the Governance
Guidelines, as referred in of OJK Circular Letter No.32/SEOJK.04/2015 concerning Guidelines for the Governance of
Public Companies, namely as follows:
Fulfillment of OJK Circular Letter Recommendation No. 32/SEOJK.04/2015
No. Recommendation Description
A PUBLIC COMPANY RELATIONSHIP WITH SHAREHOLDERS IN GUARANTEING THE RIGHTS OF SHAREHOLDERS
Principle 1
Increasing the value of holding a General Meeting of Shareholders (GMS).
1.1 The Public Company has Implementation: Comply
a method or technical
procedure for collecting To prioritize shareholder independence and interests, vote collection techniques in the BCA
votes, both openly and GMS are regulated in the GMS Rules (distributed to shareholders or their proxies who are
privately, that promotes present and read out before the GMS is convened) as well as the Articles of Association.
independence and Shareholders and the general public can also download the BCA GMS Rules of Conduct from
shareholder interests. the BCA website at https://www.bca.co.id/en/tentang-bca/tata-kelola/aksi-korporasi, in
the GMS Rules of Conduct section as a form of transparency.
At the Annual GMS on March 14, 2024, voting on each proposal submitted in each GMS
agenda was conducted openly in accordance with the procedure proposed by the Meeting’s
Chairman, namely:
a. Voting by the shareholders or their proxies that physically attend the Meeting shall be
done under the following procedure:
1) The Chairperson of the Meeting will ask the shareholders or their proxies that
DISAGREE or ABSTAIN on the relevant proposal to raise their hands and submit their
ballots to the Meeting helper.
2) If the shareholder has granted power to a proxy but casts votes through eASY.KSEI
application, the votes that will be counted are those cast by the shareholders through
eASY.KSEI application, and therefore the shareholder’s proxy need not raise his/her
hand and submit the ballot to the Meeting helpers;
508 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
No. Recommendation Description
a. Voting for shareholders or their proxies who are present electronically through the eASY.
KSEI application is carried out in the following manner:
1) The voting process takes place through the eASY.KSEI application on the E-Meeting
Hall menu, Live Broadcasting submenu;
2) The shareholders that are present or have granted e-proxy in the Meeting through
eASY.KSEI application but have not cast their votes will have the opportunity to cast
their votes during the voting period determined by BCA through the E-Meeting Hall
screen in the eASY.KSEI application;
3) During the electronic voting process, the status “Voting for agenda item no [ ] has
started” will appear in the ‘General Meeting Flow Text’ column;
4) The time allocated for direct e-voting through the eASY.KSEI application is maximum 2
(two) minutes;
5) Shareholders who have voted before the Meeting starts and shareholders or their
proxies who have registered through the eASY.KSEI application on the date of the
Meeting will be deemed valid to attend the Meeting even though they do not attend
the Meeting until the end for any reason;
6) If the shareholder or the shareholder’s proxy fails to cast any vote until the Meeting
status shown in the ‘General Meeting Flow Text’ column changes to “Voting for agenda
item no [ ] has ended”, the shareholder or the shareholder’s proxy will be deemed to
ABSTAIN on the relevant Meeting agenda item.
Furthermore, the votes cast by the shareholders or their proxies, both physically and
electronically, will be counted by BCA Securities Administration Bureau and then verified by a
Notary as an independent public official.
More information can be found on pages 299
1.2 All members of the Implementation: Comply
Board of Directors and
members of the Board The attendance of all members of the Board of Directors and Board of Commissioners at the
of Commissioners of the AGMS on March 14, 2024 was as follows:
Public Company present Board of Commissioners 100%
at the Annual GMS. Board of Directors 100%
More information can be found on page 299-300
1.3 A summary of the minutes Implementation: Comply
of the GMS is available
on the Public Company On March 14, 2024, BCA published a summary of the minutes of the Annual GMS on the BCA
Website for at least 1 website, which has been available for more than 1 (one) year. The summary of the minutes of
(one) year the 2024 Annual GMS, as well as the summary of the minutes of the previous 5 (five) years,
can be downloaded from the BCA website at https://www.bca.co.id/en/tentang-bca/tata-
kelola/aksi-korporasi. under the General Meeting of Shareholders section.
More information can be found on page 304
Principle 2
Improving Public Company Communication Quality with Shareholders or Investors
2.1 Public companies have a Implementation: Comply
communication policy
with shareholders or BCA has a communication policy with shareholders as stipulated in the Corporate
investors Governance Guidelines Chapter on Communication and Information Functions. BCA has
an Investor Relations work unit that supports the communication process between BCA
and the shareholder community and other capital market communities. These forms of
communication include holding analyst meetings for performance presentations, public
exposes, conference calls, as well as conveying information through the BCA website’s
Investor Relations section.
This information can also be accessed by the wider community through the BCA website:
https://www.bca.co.id/en/tentang-bca/hubungan-investor.
More information can be found on page 424 and 470
2.2 The public company Implementation: Comply
discloses the
communication policy of BCA has disclosed its communication policy with shareholders on the BCA website, which
the public company with can be found at:
shareholders or investors https://www.bca.co.id/en/tentang-bca/tata-kelola/acgs/kebijakan-gcg under the policy
on the website related to Governance of the Communication Policy section
More information can be found on page 424 and 470
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No. Recommendation Description
B FUNCTIONS AND ROLE OF THE BOARD OF COMMISSIONERS
Principle 3
Strengthening the Membership and Composition of the Board of Commissioners
3.1 Determination of the Implementation: Comply
number of members
of the Board of BCA has complied with the provisions of OJK Regulation concerning the Implementation of
Commissioners Governance for Commercial Banks, which states that banks must have a minimum of 3 (three)
considering the state of members of the Board of Commissioners and a maximum of the same number of members
the Public Company of the Board of Directors. As of December 31, 2024, the BCA’s Board of Commissioners had
5 (five) members, 3 (three) of whom were Independent Commissioners. The Remuneration
and Nomination Committee of the BCA determines the number and composition of the
Board of Commissioners, which makes recommendations to the Board of Commissioners
for approval at the GMS. These recommendations have also taken into consideration the
applicable regulations/conditions, as well as BCA’s conditions, capacity, goal achievement,
and fulfillment of BCA’s needs.
More information can be found on page 319-320
3.2 The diversity of skills, Implementation: Comply
knowledge, and
experience required The RNC is tasked with, among other things, compiling and providing recommendations to
is considered when the Board of Commissioners regarding:
determining the - Systems and procedures for selecting and/or replacing Board of Commissioners and
composition of the Board Board of Directors members;
of Commissioners. - The composition of positions on the Board of Directors and/or the Board of
Commissioners;
- Policies and criteria required in the nomination process; and
- Performance evaluation policy for members of the Board of Directors and/or members of
the Board of Commissioners
The policy on diversity in the composition of the Board of Commissioners is contained in
the provisions regarding the Composition and Criteria for the Board of Commissioners in
Chapter 3 of the BCA Governance Guidelines. In determining the composition of the Board
of Commissioners, BCA has paid attention to the diversity of its members, both in terms
of education (field of study), work experience, age, and expertise, regardless of gender,
ethnicity, religion, or race. The diversity of each member of the Board of Commissioners, who
has high competence, supports the improvement of BCA’s performance.
More information can be found on page 359-360
Principle 4
Improving the Quality of Implementation of Duties and Responsibilities of the Board of Commissioners.
4.1 The Board of Implementation: Comply
Commissioners
has a self-assessment According to Chapter 14 of the BCA Governance Guidelines, the Board of Commissioners has
policy to assess the a self-assessment policy. The Board of Commissioners’ self assessment policy is a guideline
performance of the Board used as a form of accountability for evaluating the Board of Commissioners’ performance.
of Commissioners.
The Board of Commissioners evaluates the self-assessment of the Board
of Commissioners based on recommendations from the Remuneration and Nomination
Committee.
More information can be found on page 361
4.2 The self-assessment Implementation: Comply
policy to assess the
performance of the Board BCA has disclosed the Board of Commissioners’ performance self-assessment policy through
of Commissioners this Annual Report.
is disclosed in the Public
Company Annual Report More information can be found on page 361
4.3 The Board of Implementation: Comply
Commissioners
has a policy regarding the Policies related to the resignation of members of the Board of Commissioners from their
resignation of members positions if involved in financial crimes are regulated in Chapter 3 of the BCA Board of
of the Board of Commissioners’ Work Guidelines and Rules and Article 14 of the BCA’s Articles of Association.
Commissioners if they
are involved in financial
crimes.
510 PT Bank Central Asia Tbk 2024 Annual Report
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No. Recommendation Description
4.4 The Board of Implementation: Comply
Commissioners
or Committees carrying The RNC is responsible with formulating a succession policy for the Board nomination process
out the Nomination and as described in Chapter 3 of the BCA Corporate Governance Guidelines. The implementation
Remuneration Functions of the Board Succession Policy includes making recommendations to the BOC for submission
develop a succession to the GMS regarding the system, procedures and candidates for the election and/or
policy in the process of replacement of members of the Board.
nominating members of
the Board of More information can be found on page 388
Directors
C FUNCTIONS AND ROLE OF THE BOARD OF DIRECTORS
Principle 5
Strengthening the Membership and Composition of the Board of Directors
5.1 The condition of the Implementation: Comply
public company and
decision-making BCA has complied with the provisions of Article 2 of OJK Regulation No. 33/POJK.04/2014
effectiveness is concerning Directors and Board of Commissioners of Issuers or Public Companies, namely
taken into consideration that the Board of Directors of Issuers or Public Companies must consist of at least 2 (two)
when determining the members. As of December 31, 2024, the number of members on BCA’s Board of Directors
number of members of is 12 (twelve). The number and composition of the Board of Directors is determined by the
the Board of Directors. BCA’s RNC, which is tasked with making recommendations to the Board of Commissioners for
approval at the GMS. In determining the number of members of the Board of Directors, BCA
also considered BCA’s condition, capacity, goal achievement, and fulfillment of BCA’s needs.
More information can be found on page 333-334
5.2 The diversity of skills, Implementation: Comply
knowledge, and
experience required is RNC is assigned to set out and provide recommendations to the Board of Commissioners
taken into consideration regarding, among other things:
when determining the - Systems and procedures for selecting and/or replacing members of the Board of
composition of the Board Directors and/or the Board of Commissioners;
of Directors. - Position composition of members of the Board of Directors and/or members of the Board
of Commissioners;
- Policies and criteria required in the nomination process; and
- Policy for evaluating the performance of Board of Directors and/or Board of
Commissioners members.
In carrying out the tasks of the KRN, the diversity of skills, knowledge and experience required
was considered when determining the composition of the Board of Directors of BCA. The
policy on the diversity of the composition of the Board of Directors is also set out in the
provisions relating to the composition and criteria of the Board of Directors in Chapter 4 of
BCA's Corporate Governance Guidelines, including the diversity of the Board of Directors in
terms of gender, age, educational background, and expertise.
More information can be found on page 360
5.3 Members of the Board Implementation: Comply
of Directors in charge of
accounting or finance Members of the Board of Directors in charge of accounting and finance have experience in
have expertise and/or finance and accounting
knowledge in accounting
More information can be found on page 69 (Ms. Vera Eve Lim’s profile).
Principle 6
Improving the Quality of Implementation of Duties and Responsibilities of the Board of Directors
6.1 The Board of Directors Implementation: Comply
has a self-assessment
policy to assess the BCA has a self-assessment policy for the Board of Directors, as stated in Chapter 4 of the
performance of the Board BCA Governance Guidelines. Self-assessment is carried out with reference to the Bank’s
of Directors. Business Plan which has been approved by the Board of Commissioners.
The results of the self-assessment of members of the Board of Directors (including the
President Director) are evaluated by the Board of Commissioners through meetings based on
recommendations from the Remuneration and Nomination Committee
More information can be found on page 362-364
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No. Recommendation Description
6.2 The self-assessment Implementation: Comply
policy to assess the
performance of the Board Assessment of the performance of the Board of Directors has been disclosed in this Annual
of Directors is disclosed Report.
in the Public Company’s
annual report More information can be found on page 362-364
6.3 The Board of Directors Implementation: Comply
has a policy regarding the
resignation of members The policy regarding the resignation of a member of the Board of Directors if involved in
of the Board of Directors a financial crime is in Chapter 4 of the Board of Directors’ Work Guidelines and Rules. In
if they are involved in addition, Article 11 of the BCA’s Articles of Association stipulates provisions regarding the
financial crimes resignation of members of the Board of Directors.
D STAKEHOLDER PARTICIPATION
Principle 7
Improving Corporate Governance Aspects through Stakeholder Participation
7.1 The Public Company has Implementation: Comply
a policy to prevent insider
trading BCA’s insider trading policy is included in the BCA’s Governance Guidelines. The main points
of insider trading policy are disclosed through the policies related to governance section
on BCA website: https://www.bca.co.id/en/tentang-bca/tata-kelola/acgs/kebijakan-gcg
under Insider Trading Policy sub section.
More information can be found on page 291
7.2 The Public Company has Implementation: Comply
anticorruption and anti-
fraud policies BCA has:
Anti-corruption policy as stipulated in:
a. Code of Ethics
b. Decree No.269/SK/DIR/2021 concerning Anti-Corruption Policy and Gratification Control
c. Circular Letter No.336/SE/POL/2022 concerning Reporting of Gratification Control
In accordance with OJK Regulation No. 12 of 2024 on the Implementation of Anti-Fraud
Strategies for Financial Services Institutions, BCA has an Anti-Fraud Strategy Implementation
Policy that refers to the OJK Regulation. The Policy Guidelines have been approved by the
Decision of the Board of Directors No. 009/SK/DIR/2025 dated January 20, 2025 on the
Adjustment of the Anti-Fraud Strategy Policy
More information can be found on page 455 and 449
Link: https://www.bca.co.id/en/tentang-bca/tata-kelola/acgs/kebijakan-gcg
7.3 The Public Company has Implementation: Comply
a policy regarding the
selection and capacity BCA has a policy regarding the procurement of goods and services related to logistics,
building of suppliers or buildings, and information technology, as outlined in the Board of Directors’ Decree No. 130/
vendors. SK/DIR/2017 dated October 10, 2017, and No. 089/SK/DIR/2018 dated June 6, 2018. This
policy regulates the value of procurement transactions and the selection methods used
(tenders, price comparisons/direct selection, direct appointments, repeat orders, payment
systems, etc.), so that the procurement process at BCA is fair and open.
More information can be found on page 292 and 487
7.4 The Public Company has a Implementation: Comply
policy for the fulfillment
of creditor rights BCA guarantees the fulfillment of creditor rights in:
• The right to obtain clear information.
• The right to submit suggestions/inputs, complaints/complaints and obtain their resolution.
• The right to receive creditor rights in accordance with the agreed agreement.
• The right to get access to the audited Annual Report and Financial Statements.
• The right to obtain information and easy access to announcements, summons, and results
of the GMS in accordance with the procedures stipulated in regulations related to the
GMS.
In its implementation, BCA is committed to always fulfilling the rights of creditors in
accordance with the policies set out in applicable regulations and based on mutually agreed-
upon agreements regarding creditor rights in the relationship between BCA and creditors.
Throughout 2024, BCA has fulfilled creditor rights in accordance with applicable regulations.
512 PT Bank Central Asia Tbk 2024 Annual Report
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7.5 The Public Company has a Implementation: Comply
whistleblowing system
policy BCA already has a Whistleblowing System Policy as stated in Board of
Directors Decree No.146/SK/DIR/2017 dated November 1, 2017, concerning the
Implementation of a Whistleblowing System at BCA and has implemented OJK Regulation
No.12 year 2024 concerning Implementation of Anti-Fraud Strategies for Financial Services
Institutions. The main points of the whistleblowing system have been disclosed on the BCA
website in the governance-related policy section:
https://www.bca.co.id/en/tentang-bca/tata-kelola/acgs/kebijakan-gcg in the Policies
related to Governance in the WBS Policy section (Whistleblowing System).
More information can be found on page 453
7.6 The Public Company has a Implementation: Comply
policy of providing long-
term incentives to the In this Annual Report, BCA has disclosed its Incentive Policy to the Board of Directors. The
Board of Directors and Employee Incentives Policy is outlined in the Collective Labor Agreement and Board of
employees Directors Decree No. 009/SK/DIR/2022 dated January 19, 2022 regarding Main Policies
Regarding Achievement Assessment Systems, Positions/Ranks, and Payroll.
E INFORMATION DISCLOSURE
Principle 8
Improving the Implementation of Information Disclosure
8.1 Aside from the Website Implementation: Comply
as a medium for
information disclosure, Use of information technology as a medium for BCA Information Disclosure:
public companies benefit a. External, including:
from the broader use of • Website (www.bca.co.id),
information technology • Halo BCA,
• X account (@XpresiBCA, @GoodLifeBCA, @Halo BCA, @BankBCA, @ KartuKreditBCA),
• Facebook (XpresiBCA, GoodLifeBCA, BankBCA, KartukreditBCA),
• Youtube (www.youtube.com/solusibca),
• Linkedln PT Bank Central Asia Tbk,
• Instagram (@GoodLifeBCA and @LifeAtBCA),
• Line (BankBCA).
• Tiktok (@BankBCA)
b. Internals
Internal Information Disclosure Media through the MyBCA Intranet Portal, Facebook group
for employees (BCA Semua Beres), Instagram
@bcasemuberes, BCA Info Magazine, Plasma TV and Tiktok @BankBCA
More information can be found on page 474-475 and 485-486
8.2 The Public Company Implementation: Comply
Annual Report discloses
the ultimate beneficial BCA’s Annual Report has disclosed:
owner in public company a. List of BCA shareholders who own 5% or more of BCA shares;
share ownership of at b. The ultimate beneficial owner in BCA share ownership; as well as
least 5% (five percent), c. BCA’s major/controlling shareholder.
other than disclosure of
the ultimate beneficial More information can be found on page 313
owner in public company
share ownership through
a major or controlling
shareholder
BCA has implemented all recommendations for the Implementation of Public Company Governance Guidelines in
accordance with OJK Circular Letter No.32/SEOJK.04/2015 concerning Guidelines for Public Company Governance.
As of December 31, 2024, all of the above recommendations have been implemented.
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3. The Implementation of the OECD Corporate Governance Principles by BCA, is as follows:
No. Recommendation Description
1. Corporate Governance BCA has a BCA governance framework which is reflected in the action plan and
Framework organizational structure of BCA.
2. Shareholder Rights In accordance with the Recommendation Fulfillment Table of OJK Circular Letter
No.32/SEOJK.04/2015 – Aspect A (Public Company Relations with Shareholders in
Guaranteeing Shareholders’ Rights).
3. Equal Treatment of Based on the principle of equality and fairness (equal treatment), BCA provides
Shareholders. opportunities for all shareholders to express opinions and access information in
accordance with the principle of transparency.
4. The Role of Stakeholders in In accordance with the Recommendation Fulfillment Table of OJK Circular Letter
Corporate Governance No.32/SEOJK.04/2015 – Aspect D (Stakeholder Participation).
5. Disclosure and Transparency In accordance with the Recommendation Fulfillment Table of OJK Circular Letter
No.32/SEOJK.04/2015 – Aspect E (Information Disclosure).
6. Roles and Responsibilities of In accordance with the Recommendation Fulfillment Table of OJK Circular Letter
the Board of Commissioners No.32/SEOJK.04/2015 – Aspect B (Function and Role of the Board of Commissioners)
and the Board of Directors and Aspect C (Function and Role of the Board of Directors).
BCA has implemented the principles of Corporate Governance compiled by the OECD. As of December 31, 2024,
there are no other recommendations that have not been implemented by BCA.
4. The Principles of Corporate Governance are in Accordance with the Guidelines for Corporate
Governance Principles for Banks
BCA applies 12 (twelve) principles of corporate governance according to the guidelines issued by the Basel Committee
on Banking Supervision. The principles of corporate governance compiled by the Basel Committee serve as a reference
for implementing corporate governance in banking.
No. Principle BCA Implementation
1. Responsibilities of the Board of The Board of Commissioners’ Work Guidelines and Rules, which are an
Commissioners. integral part of the Corporate Governance Guidelines, stipulate the
The Board of Commissioners has responsibilities of the Board of Commissioners, including: providing direction,
responsibilities which include: approval monitoring, and evaluating the implementation of BCA’s strategic policies;
and oversight of the implementation of periodically reviewing the Company’s vision and mission; as well as ensuring
business strategy, governance structure the implementation of Good Corporate Governance in all BCA business
and mechanisms as well as corporate activities. The Board of Commissioners’ Work Guidelines and Rules can be
culture. downloaded in the Organizational Structure section of the BCA website
(https://www.bca.co.id/en/tentang-bca/tatakelola/Struktur Organisasi).
2. Qualifications and Composition of the BCA already has the qualifications and composition of the Board of
Board of Commissioners. Commissioners according to their duties and responsibilities in accordance
Members of the Board of Commissioners with the Recommendations Fulfillment Table of OJK Circular Letter
must have quality in accordance with Recommendations No.32/SEOJK.04/2015 – Aspect B (Functions and Roles
their duties and responsibilities, both of the Board of Commissioners) Principle 3. Strengthening the Membership
individually and collegially. The Board of and Composition of the Board of Commissioners. The qualifications and
Commissioners must understand their composition of the Board of Commissioners can be found in the Board of
role in supervising and implementing Commissioners Work Guidelines and Rules, which can be downloaded in
corporate governance and be able to the Organizational Structure section of the BCA website (https://www.bca.
carry out sound and objective decision- co.id/en/tentang-bca/tata-kelola/Struktur-Organisasi).
making.
3. Structure and Mechanism of the Board BCA already has a structure and mechanism for the Board of Commissioners
of Commissioners. in accordance with the Recommendations Fulfillment Table of OJK Circular
The Board of Commissioners must Letter No.32/SEOJK.04/2015 – Aspect B (Functions and Roles of the Board
establish appropriate governance of Commissioners) principle 4. Improving the Quality of the Implementation
structures and practices for carrying out of Duties and Responsibilities of the Board of Directors. The structure and
their duties and periodically review their mechanism of the Board of Commissioners can be found in the Board of
effectiveness Commissioners Work Guidelines and Rules, which can be downloaded from
the Organizational Structure section of the BCA website (https://www.bca.
co.id/en/tentang-bca/tata-kelola/Struktur-Organisasi).
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No. Principle BCA Implementation
4. Board of Directors. The Board of Directors of BCA carries out their duties and responsibilities in
Under the direction and supervision accordance with the business strategy, risk appetite, remuneration policies,
of the Board of Commissioners, the and other policies that have been approved by the Board of Commissioners
Board of Directors is able to manage in accordance with the OJK Circular Letter Recommendation Fulfillment
the Bank’s activities in accordance with Table No.32/SEOJK.04/2015 – Aspect C (Functions and Roles of the Board
the business strategy, risk appetite, of Directors). The duties and responsibilities of the Board of Directors can
remuneration policies, and other policies be found in the Board of Directors Work Guidelines and Rules, which can
that have been approved by the Board of be downloaded in the Organizational Structure section of the BCA website
Commissioners. (https://www.bca.co.id/en/tentang-bca/tata-kelola/Struktur-Organisasi).
5. Business Group Governance Structure. BCA has Integrated Governance Guidelines, the amendments to which have
In a business group, the Board of been effective since December 30, 2020. BCA has also formed an Integrated
Commissioners of the parent company Governance Committee, chaired by an Independent Commissioner of BCA
has overall responsibility for the group’s as the Main Entity, whose task is to support the Board of Commissioners of
efforts and to ensure the establishment the Main Entity in supervising the implementation of governance in the BCA
and implementation of clean governance Financial Conglomerate in an integrated manner. The Integrated Governance
practices related to the structure, Guidelines can be downloaded from the GCG Policy section of the BCA
business, and risks of business groups website
and entities. The Board of Commissioners (https://www.bca.co.id/en/tentang-bca/tata-kelola/acgs/kebijakan-gcg).
and the Board of Directors must
understand the organizational structure
of the business group and the risks it
faces.
6. Risk Management Function. The risk management function at BCA is carried out by the Risk Management
Banks must have a quality Unit, which is led by the Director in charge of the Risk Management function.
risk management function, be BCA also has a Risk Management Committee and an Integrated Risk
independent, have quality resources, Management Committee; whose duties are to provide recommendations to
and have access to the Board of the Board of Directors on the implementation of integrated risk management
Commissioners. at BCA and its Subsidiaries. The implementation of risk management at
BCA is communicated to the Board of Commissioners through the Risk
Oversight Committee. The main points of the Risk Management Policy can be
downloaded from the GCG Policy section of the BCA website (https://www.
bca.co.id/en/tentang-bca/tatakelola/acgs/kebijakan-gcg).
More information can be found on page 437
7. Identification of Risk BCA has mitigated risks by identifying, measuring, monitoring, and controlling
Monitoring and Control. them in accordance with the applicable risk management framework and
Risks must be identified, compiling risk profiles on a regular basis. The Risk Management Policy’s main
monitored, and controlled for all points can be downloaded from the BCA website’s GCG Policy section
activities of the Bank. The quality of the (https://www.bca.co.id/en/tentang-bca/tata-kelola/acgs/kebijakan-gcg).
risk management and internal control
infrastructure must be able to keep up More information can be found on page 139
with changes in the Bank’s risk profile,
external risk conditions, and industry
practices.
8. Risk Communication. Every semester, BCA submits quarterly BCA Risk Profile Reports and
Effective implementation Integrated Risk Profile Reports to the Board of Directors, Board of
of risk governance requires accurate risk Commissioners, and OJK. The Risk Management Policy’s main points can be
communication within the Bank, both downloaded from the GCG Policy section of the BCA website (https://www.
between organizations and through bca.co.id/en/tentang-bca/tata-kelola/acgs/kebijakan-gcg).
reporting to the
Board of Commissioners and the Board
of Directors.
9. Compliance. The compliance function at BCA is carried out by the Compliance Division
The Board of Commissioners is in (DCP) led by the Director in charge of the compliance function. DCP
charge of overseeing management of performs the compliance function at BCA and monitors the implementation
the Bank’s compliance risk. The Board of the compliance function and the compliance level of Subsidiaries in an
of Commissioners must establish a integrated manner. The Board of Commissioners has also carried out active
compliance function and approve supervision, including the approval of policies and procedures, Audit Results
policies and processes for identifying, Reports, periodic reporting, requests for explanations, and presentations.
assessing, monitoring, and reporting The responsibilities of the Board of Commissioners can be found in the Board
compliance risks, as well as providing of Commissioners’ Work Guidelines and Rules, which can be downloaded in
advice for risk compliance. the Organizational Structure section of the BCA website (https://www.bca.
co.id/en/tentang-bca/tata-kelola/Struktur-Organisasi).
More information can be found on page 433
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No. Principle BCA Implementation
10. Internal Audit. DAI performs the Internal Audit function, whose job it is to perform assurance
The internal audit function must report and consulting activities independently and objectively in order to increase
to the Board of Commissioners on the effectiveness and add value to the processes of risk management,
independent assurance activities and internal control, and governance of the company’s activities. DAI reports
must assist the Board of Commissioners directly to the President Director and communicate with the Board of
and the Board of Directors in Commissioners via the Audit Committee. The internal audit function can be
encouraging the implementation of an found in the Internal Audit Charter which can be downloaded in the GCG
effective governance process and the Policy section of the BCA website (https://www.bca.co.id/en/tentang-bca/
Bank’s longterm health. tata-kelola/acgs/kebijakan-gcg).
More information can be found on page 426
11. Compensation. BCA has an appropriate remuneration structure in accordance with OJK
The Bank’s remuneration structure must Regulation No. 45/POJK.03/2015 concerning the Implementation of
support the implementation of corporate Governance in the Provision of Remuneration for Commercial Banks and OJK
governance and risk management. Circular Letter No. 40/SEOJK.03/2016 concerning the Implementation of
Governance in the Provision of Remuneration for Commercial Banks. Periodic
evaluations of the implementation of the remuneration policy are carried out
by the RNC. Regarding the RNC remuneration function, it can be downloaded
from the Organizational Structure section of the BCA website (https://www.
bca.co.id/en/tentang-bca/tata-kelola/struktur-organisasi).
More information can be found on page 367-368
12. Disclosure and Transparency. BCA has implemented disclosure and transparency as a governance
The Bank’s governance must be implementation for Shareholders, Depositors, other relevant Stakeholders,
implemented in a transparent manner for and Market Participants in accordance with the OJK Circular Letter
Shareholders, Depositors, other relevant Recommendation Fulfillment Table No.32/SEOJK.04/2015 - Aspect E
Stakeholders, and Market Participants. (Information Disclosure). Disclosure and transparency policies can be found in
the Governance Guidelines, which can be downloaded from the GCG Policy
section of the BCA website (https://www.bca.co.id/en/tentang-bca/tata-
kelola/acgs/kebijakan-gcg).
5. Indonesian Corporate Governance Guidelines
In 2022, the General Guidelines for Indonesian Corporate Governance (PUGKI) were updated by the National Committee
on Governance Policy (KNKG). In line with BCA’s commitment to achieving the 4 (four) pillars of corporate governance,
namely ethical behavior, accountability, transparency, and sustainability, BCA also strives to implement the 8 (eight)
principles of Indonesian corporate governance, which include the following:
Principle 1: The roles and responsibilities of the Board of Directors and the Board of Commissioners
1.1 The roles and responsibilities of the Board of Directors
Recommendation Implementation
1.1.1 In order to achieve long-term value creation, the Board Applied
of Directors assumes leadership and strives to achieve 1.1.1 The Board of Directors carries out its leadership
the following governance outcomes: role and responsibility for the implementation of
a. competitive and focus on long-term performance, sustainable corporate governance, including through the
b. ethical and responsible business practices, implementation of BCA's code of ethics and values.
c. positive contributions to society and the 1.1.2 The Board of Directors ensures the vision, mission, goals,
environment, targets, strategies, and annual and long-term plans by
d. the ability to survive and grow (corporate utilizing innovation and technology effectively.
resilience). 1.1.3 The Board of Directors ensures that BCA has
1.1.2 The Board of Directors must ensure that the implemented appropriate and effective risk management
corporation’s mission, vision, goals, objectives, and internal control systems that are tailored to BCA’s
strategies, and annual and medium-term plans are objectives, business policies, size, and complexity of
consistent with long-term goals by effectively utilizing business activities.
innovation and technology. 1.1.4 BCA financial reports are submitted in a timely manner
1.1.3 The Board of Directors ensures that the corporation and accurately in accordance with the mechanisms and
implements appropriate and effective risk management procedures stipulated in commercial bank and capital
and internal control systems that are in line with the market regulations.
corporate vision, mission, goals, objectives, and 1.1.5 BCA’s Sustainability Report has been prepared in
strategies and comply with applicable laws, regulations, accordance with regulatory provisions regarding the
and standards. implementation of sustainable finance for financial
1.1.4 The Board of Directors ensures the integrity of the service institutions, issuers, and public companies.
corporation’s accounting and financial reporting
systems and the timely and accurate disclosure of all
material information regarding the corporation.
1.1.5 The Board of Directors ensures that sustainability
reporting has been prepared appropriately.
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1.1.6 The Board of Directors builds a framework for corporate 1.1.7 BCA does not have a Sharia business unit.
information technology (IT) governance that is 1.1.8 The Board of Directors’ Charter is reviewed periodically,
aligned with corporate business needs and priorities, as last updated on June 30, 2021 and uploaded on
encourages business opportunities and performance, the website www.bca.co.id. In 2024, an update was
strengthens risk management, and supports corporate made to the Board of Directors Charter regarding the
goals and strategies. provisions for meeting quorum. The division of duties and
1.1.7 For corporations that carry out business activities responsibilities of the Board of Directors is regulated in
based on Sharia principles, the Board of Directors needs the Decree of the Board of Commissioners, while the
to ensure the authority and availability of adequate policy regarding the authority of the Board of Directors in
supporting equipment so that the Sharia Supervisory deciding on transactions and expenditures is regulated in
Board can carry out its role effectively. the Decree of the Board of Directors.
1.1.8 The Board of Directors’ Charter is periodically reviewed. 1.1.9 Policies regarding the resignation of members of the
The Charter includes, among other things, the division of Board of Directors if they are involved in financial crimes
roles among individual directors, which can be regulated and are proven to have made mistakes are outlined in the
in the Board of Directors’ Charter or by a Board of BCA Governance Guidelines. Meanwhile, the procedures
Directors’ Decree. for appointing, replacing, dismissing, changing, or
1.1.9 The Board of Directors has a policy regarding the resigning members of the Board of Directors refer to
resignation of members of the Board of Directors if they BCA’s Articles of Association
are involved in financial crimes and are proven to have
made a mistake.
1.2 Performance Assessment – Board of Directors and Members
Recommendation Implementation
1.2.1 The Board of Commissioners conducts annual formal Applied
evaluations objectively and independently to determine BCA has a self-assessment policy for the Board of Directors
the effectiveness of the Board of Directors and each both individually or collegially, as stated in Chapter 4 of the
individual Director. BCA Governance Guidelines. The self-assessment of the
1.2.2 The Board of Commissioners, with the consideration Board of Directors, including the President Director, is carried
of the Nomination and Remuneration Committee, is out once a year. The self-assessment results of members of
responsible for determining performance evaluation the Board of Directors (including the President Director) are
criteria and assessing the performance of the President evaluated by the Board of Commissioners through meetings
Director and other members of the Board of Directors. based on recommendations from the RNC.
1.3 Roles and Responsibilities of the Board of Commissioners
Recommendation Implementation
1.3.1 The Board of Commissioners reviews the corporate Applied
strategy at least annually and approves the mission, 1.3.1 The Board of Commissioners is responsible for guiding,
vision, and corporate strategy formulated by the Board monitoring and evaluating the implementation of BCA’s
of Directors. The Board of Commissioners also reviews, strategic policies and providing advice to the Board of
provides advice, and approves business plans, long- Directors in accordance with the goals and objectives of
term financial plans, and short-term financial plans of BCA’s Articles of Association. The Bank’s business plan
the corporation. The Board of Commissioners provides and long-term financial plan are approved by the Board
advice and monitors the Board of Directors regarding of Commissioners.
implementation management. The Board of Directors
and Board of Commissioners are involved in very The Board of Commissioners and Board of Directors have
important decisions for the corporation, as regulated in reviewed, monitored and supervised the implementation
the company's Articles of Association. of the company’s strategy through a Joint Meeting of
1.3.2 The types of decisions that require approval from the the Board of Directors and Board of Commissioners with
Board of Commissioners must be disclosed in the annual an agenda regarding the Strategic Plan involving related
report. work units.
1.3.3 The Board of Commissioners proposes to, and is 1.3.2 Decisions that require approval from the Board of
decided by, the GMS, the appointment and/or Commissioners have been explained in the Board of
dismissal of members of the Board of Directors and Commissioners Chapter, the Authorities of the Board of
members of the Board of Commissioners by taking the Commissioners section of this Annual Report.
recommendations of the Nomination and Remuneration 1.3.3 Based on the RNC’s recommendation, the Board of
Committee into account. In proposing the above, the Commissioners decided to nominate candidates for
Board of Commissioners pays attention to diversity the Board of Commissioners and/or Board of Directors
and non-discriminatory elements and provides through a Decree of the Board of Commissioners to
equal opportunities without distinction between the Chairman of the GMS to seek shareholder approval
ethnicity, religion, race, group, or gender. The Board of at the GMS. The flow of the nomination mechanism
Commissioners ensures that the nomination and election for members of the Board of Directors and/or the
process for members of the Board of Directors and Board of Commissioners has been explained in the
members of the Board of Commissioners is formal and Board of Commissioners Chapter, the Nomination
transparent. for Members of the Board of Commissioners section,
1.3.4 The Board of Commissioners, or the Committee and the Board of Directors Chapter, the Nomination
that carries out the nomination function, prepares for Members of the Board of Directors section in this
a succession policy in the nomination process for Annual Report. The nomination and election process are
members of the Board of Directors. Every year, the carried out transparently by considering the diversity
Board of Commissioners reviews reports on the of the composition of the Board of Commissioners and
implementation of development and succession plans Directors.
submitted by the President Director.
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1.3.5 Board of Commissioners a). submit to the GMS, which 1.3.4 The Board of Commissioners proposes determination
may be preceded by a proposal from the Committee & of remuneration for the GMS based on the evaluation
carrying out the remuneration function, the amount of results
remuneration for members of the Board of Directors 1.3.5 and remuneration policy recommendations from the
and members of the Board of Commissioners that RNC. BCA, through the Board of Commissioners, reviews
is in line with sustainable corporate development its remuneration policy periodically by adapting it to the
and the long-term interests of the corporation and provisions and best practices outlined in the form of a
shareholders; b). periodically review the remuneration Board of Commissioner’s Decree concerning Changes
system for the Board of Directors and Board of to the Remuneration Policy for the Board of Directors
Commissioners. and Board of Commissioners.
1.3.6 The Board of Commissioners monitors the effectiveness 1.3.6 The Board of Commissioners monitors the effectiveness
of corporate governance policies and their of corporate governance policies and implementation
implementation and proposes changes if necessary. and provides recommendations if necessary.
1.3.7 The Board of Commissioners monitors and directs the 1.3.7 The Board of Commissioners regularly monitors
corporation to implement appropriate and effective developments in risk profiles, risk parameters, the
risk management and internal control systems that are implementation of integrated risk management, and
in line with corporate goals, objectives, and strategies bank capital levels. The Board of Commissioners
and comply with applicable laws and regulations, codes monitors developments in the profile, parameters,
of conduct, and standards. and limits of strategic risks, including the potential for
1.3.8 The Board of Commissioners supervises and directs increased concentration risk caused by changes in the
the achievement of the integrity of the corporate business environment.
accounting and financial reporting system, as well as 1.3.8 The Board of Commissioners held discussions regarding
the independence of the internal and external audit the review of internal audit performance, including the
functions. possibility of needing to make several adjustments to
1.3.9 The Board of Commissioners monitors, reviews, and internal control items in order to adapt to developments
approves the company’s annual and sustainability in the bank’s business model.
reports and ensures their integrity, as well as oversees 1.3.9 The Board of Commissioners monitors, reviews, and
the corporate disclosure and communication process. approves annual reports and sustainability reports and is
1.3.10 The Board of Commissioners Charter is periodically fully responsible for the correctness of the contents of
reviewed. BCA's Annual report.
1.3.11 The Board of Commissioners has a policy regarding the 1.3.10 The Board of Commissioners’ Charter is reviewed
resignation of members of the Board of Commissioners periodically, as last updated on June 30, 2021. In 2024,
if they are involved in financial crimes and are proven to an update was made to the Board of Commissioners
have made a mistake. Charter regarding the provisions for meeting quorum.
1.3.12 Independent commissioners are highly expected to 1.3.11 Policies regarding the resignation of members of
be able to contribute to honest, objective, active, and the Board of Commissioners are outlined in the BCA
constructive discussions at Board of Commissioners Governance Guidelines. Meanwhile, the procedures for
meetings. appointing, replacing, dismissing, changing, or resigning
1.3.13 The President Commissioner acts as coordinator of the members of the Board of Commissioners refer to BCA’s
Board of Commissioners and ensures its effectiveness. Articles of Association.
The President Commissioner encourage a culture of 1.3.12 Independent Commissioners participate and are
openness and constructive dialogue that allows a active in conveying views and suggestions regarding
variety of views to be expressed, including coordinating policies and strategies through Board of Commissioners
the setting of appropriate board meeting agendas meetings and memoranda.
and ensuring sufficient time is available to discuss all 1.3.13 Details of the duties of the President Commissioner
agenda items. Apart from that, there must also be an are disclosed in this Annual Report and on the
opportunity for the Board of Commissioners to meet website, www.bca.co.id. The duties of the President
with the Board of Directors and senior management. Commissioner include coordinating the distribution
of supervisory roles among members of the Board
of Commissioners, chairing meetings of the Board
of Commissioners, and representing the Board of
Commissioners in matters with parties outside the Board
of Commissioners.
1.4 Formation of Committee
Recommendation Implementation
1.4.1 The Corporation has committees under the Board Applied
of Commissioners consisting of at least: the Audit 1.4.1 BCA has committees under the Board of Commissioners
Committee, the Nomination and Remuneration consisting of the Audit Committee, Risk Monitoring
Committee, and the Risk Management Monitoring Committee, Remuneration and Nomination Committee,
Committee. and Integrated Governance Committee.
1.4.2 The Board of Commissioners ensures that all members
of the Audit Committee are independent, that the 1.4.2 Members of the Audit Committee are independent
majority of other committees formed by the Board of commissioners and independent parties. The Chair
Commissioners are independent, and that all committee of the Audit Committee is held by an Independent
members are competent, committed, and have Commissioner, namely Mr. Sumantri Slamet and not the
sufficient authority to carry out their roles effectively President Commissioner. All members have sufficient
and independently. competence, commitment, and authority to carry out the
1.4.3 To ensure that monitoring of the implementation of the committee’s responsibilities.
Audit Committee’s duties is objective and independent,
the President Commissioner may not be chairman 1.4.3 Mr. Djohan Emir Setijoso, as President Commissioner, is
of the Audit Committee, except in extraordinary not a chairman or member of the Audit Committee.
circumstances, which must be explained in the annual
report.
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1.5 Performance Assessment – Board of Commissioners and Members
Recommendation Implementation
1.5.1 The Board of Commissioners conducts an annual formal Applied
evaluation objectively to determine the effectiveness The performance assessment of the Board of Commissioners
of the Board, its committees, and each individual and committees under the Board of Commissioners is carried
commissioner. out once per year. The performance assessment of the Board
of Commissioners (including the President Commissioner) and
committees under the Board of Commissioners uses several
criteria and indicators as described in this Annual Report.
1.6 Conflict of Interest
Recommendation Implementation
1.6.1 Members of the Board of Directors who hold concurrent Applied
positions outside the corporation must obtain approval 1.6.1 No member of the BCA Board of Directors holds
from the Board of Commissioners. A Commissioner concurrent positions outside of BCA, except for
notifies the Board of Commissioners and the Chair of assignments to carry out supervisory functions by
the Committee performing the nominating function the BCA Director in subsidiary companies. > The said
before accepting a new appointment as Director or assignments have been approved by the Board of
Commissioner of a listed corporation, other Directorship Commissioners.
or other position with a significant time commitment.
1.6.2 The Board of Commissioners monitors and manages 1.6.2 The Board of Commissioners is committed to avoiding
potential conflicts of interest among management, potential conflicts of interest. Regarding conflicts of
members of the Board of Directors, the Board of interest, BCA has an internal policy and BCA’s Articles of
Commissioners, and shareholders, including misuse Association regulates, among other things:
of corporate assets and misuse in related party - If the President Commissioner or member of the Board
transactions. Commissioners who have a conflict of of Commissioners appointed to Chair the GMS has a
interest do not participate in monitoring and making conflict of interest with the agenda to be decided at
decisions regarding potential conflicts of interest the GMS, then the GMS is chaired by another member
involving the Commissioner or affiliates of the of the Board of Commissioners who does not have
Commissioner concerned. a conflict of interest appointed by the Board of
Commissioners. The same thing also applies to the
Board of Directors.
- A transaction containing a Conflict of Interest can only
be carried out by BCA if the transaction has received
prior approval from the GMS held in accordance with
the provisions of the Articles of Association and related
regulations.
1.7 Competency Improvement of Members of the Board of Directors and Board of Commissioners
Recommendation Implementation
1.7.1 The Board of Commissioners ensures that members of Applied
the Board of Directors and the Board of Commissioners The newly appointed Board of Directors and Board of
understand their roles and responsibilities, the Commissioners receive an orientation/introduction
characteristics and operations of the corporation, program as well as all information relevant to their roles and
relevant laws, regulations, and standards, as well as responsibilities. The orientation program for the Board of
other applicable obligations. The Board of Directors, Commissioners and the Board of Directors is regulated in
through the corporate secretary, supports all members the BCA Governance Guidelines and the Board of Directors’
of the Board of Directors and Board of Commissioners Decree No. 189/SK/DIR/2020 dated December 4, 2020
in updating and refreshing their skills and knowledge regarding Orientation Guidelines for New Members of the
necessary to carry out their roles on the Board. Board of Directors and Board of Commissioners of PT Bank
Central Asia Tbk.
BCA has a training program policy for the Board of
Commissioners and Board of Directors, which is regulated
in the Charter of the Board of Commissioners and the
Board of Directors. BCA requires members of the Board
of Commissioners and the Board of Directors to take part
in a training program at least once a year to support the
implementation of their duties and obligations. Members of
the Board of Commissioners and Board of Directors regularly
receive relevant, adequate, and sustainable training and
knowledge development programs.
Details about the orientation and training program for 2024
can be seen in the Board of Commissioners and the Board of
Directors chapters of this annual report.
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Principle 2: Composition and Remuneration of the Board of Directors and Board of Commissioners
2.1 Composition of the Board of Directors and the Board of Commissioner
Recommendation Implementation
2.1.1 In determining prospective Director candidates, the Applied
Board of Commissioners, through the Nomination 2.1.1 The Board of Commissioners asks the RNC to discuss
and Remuneration Committee, does not only rely on proposals regarding nominations for the Board of
recommendations from the Board of Commissioners, Directors from shareholders/Board of Commissioners/
management, or majority shareholders. The Board President Director. BCA can also use third-party services
of Commissioners, through the Nomination and to search for candidates for the Board of Directors.
Remuneration Committee, can use independent The RNC provides recommendations to the Board of
sources to determine candidates who meet the Commissioners. The recommendation is stated in the
requirements. form of an RNC decree to be submitted to the GMS
2.1.2 The Board of Commissioners ensures that the criteria Chairman. The description of the Board of Directors
for selecting members of the Board of Directors nomination mechanism is as explained in the Board of
include at least the knowledge, abilities, and skills Directors Chapter, Sub-Chapter Nomination of the Board
required to appropriately fulfill the role of the Board of Directors Members of this Annual Report.
of Directors and pay attention to the fulfillment of the 2.1.2 When discussing prospective Directors, consider, among
diversity of the Board of Directors. other things:
2.1.3 Corporate policies regarding diversity among the a. Reasons and/or considerations for the proposal
Board of Directors and Board of Commissioners are (based, among other things, on interview results,
disclosed in the Annual Report. financial reputation studies, track record experience,
2.1.4 The Board of Commissioners ensures that the policies and public opinion circulating in various media);
and procedures for the selection and nomination of b. Candidate criteria and qualifications that are in line
Commissioners are clear and transparent so as to with the Bank’s strategy;
produce the desired Board composition. The Board c. Internal and external conditions of the company;
of Commissioners uses independent sources to d. Communication with controlling shareholders (if the
determine qualified candidates. proposal is not from the controlling shareholder).
2.1.5 The Board of Commissioners/Committee which carries 2.1.3 The diversity policy in the composition of the Board of
out the nomination function, determines nomination Directors and Board of Commissioners is outlined in the
procedures and criteria that are consistent with the Charter of the Board of Directors and the Charter of the
Board of Commissioners’ skills matrix, which has been Board of Commissioners and explained in the Chapter
approved by the Board of Commissioners and ensures on Diversity in the Composition of the Members of the
that the candidate profile meets the requirements set Board of Commissioners and the Board of Directors of this
out in the skills matrix and nomination criteria. Annual Report.
2.1.6 The composition of the Board of Commissioners 2.1.4 Policies and procedures for the selection and
must be formed in such a way that its members as a nomination of Commissioners are carried out clearly
group reflect the diversity in terms of abilities, skills, and transparently. Information about Commissioner
knowledge, experience, age, cultural background, and candidates is disclosed in the election/re-election
gender required to appropriately fulfill the role of the process, is available from the date the GMS summons is
Board of Commissioners. issued until the GMS is held, and can be downloaded via
2.1.7 To enable the Board of Commissioners to provide the BCA website and/or e-GMS.
independent advice and supervision to the Board 2.1.5 The RNC carries out the nomination function based on
of Directors and for roles where there is a potential procedures and criteria that are carried out correctly,
conflict of interest, the Board of Commissioners consistently, and transparently, including by ensuring that the
consists of a sufficient number of Independent candidate profile meets the expertise requirements of the
Commissioners, with limited terms of office and Board of Commissioners.
disclosure of the term of membership of the Board 2.1.6 The composition of the Board of Commissioners reflects
of Commissioners and their independence. from a diversity in terms of abilities, skills, knowledge, experience,
corporate perspective. age, cultural background, etc. as required to fulfill the role of
2.1.8 To facilitate the effective functioning of the Board of the Board of Commissioners.
Directors and Board of Commissioners and to increase 2.1.7 As of December 31, 2024, BCA’s Independent Commissioners
investor and stakeholder confidence, the Nomination constituted 3 (three) of the total members of the Board of
and Remuneration Committee ensures that there Commissioners of 5 (five) people, or 60% (sixty percent) of
is a formal, strict, and transparent process for the the total members of the Board of Commissioners. The term
appointment of members of the Board of Directors of office of an Independent Commissioner follows the term of
and Board of Commissioners. office of the Board of Commissioners in general. Independent
Commissioners who have served for 2 (two) consecutive
terms of office can be reappointed in the following period.
Independent Commissioners’ disclosures and statements can
be seen in the Independent Commissioners Chapter of this
Annual Report.
2.1.8 The duties and responsibilities of the RNC are outlined in the
Remuneration and Nomination Committee Charter. To carry
out a transparent and responsible process, RNC prepares
a report to the Board of Commissioners regarding the
implementation of the duties, responsibilities and procedures
of the Remuneration and Nomination carried out and makes
a report on the implementation of activities disclosed in the
Annual Report.
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2.2 Remuneration of Directors and Board of Commissioners
Recommendation Implementation
2.2.1 The remuneration policy for members of the Board of Applied
Directors consists of a remuneration structure that is 2.2.1 Indicators for implementing remuneration can be seen in
oriented towards sustainable corporate development the Remuneration Policy Chapter of this Annual Report.
and encourages the achievement of long-term RNC conveys to the Board of Commissioners the results of
goals. The Board of Directors’ remuneration must the evaluation and recommendations for the remuneration
be proposed by the Board of Commissioners, policy of the Board of Commissioners and the Board of
possibly through the Nomination and Remuneration Directors to be submitted to the GMS, after which the
Committee, and to be decided by the GMS. The recommendations for determining remuneration will
amount of remuneration proposed to the GMS is be proposed by the Board to the GMS for shareholder
determined by considering the role of each member approval. A description of the scheme for proposing
of the Board of Directors, the economic situation, and and determining remuneration can be seen in the
corporate performance. Remuneration Policy Chapter of this Annual Report.
2.2.2 The remuneration policy for members of the Board of 2.2.2 Considerations for determining remuneration are linked
Commissioners consists of a remuneration structure to Risk and Performance (including based on performance
that is oriented towards sustainable corporate measurement indicators) and are reviewed once every
development and encourages the achievement year.
of long-term goals. The amount of remuneration 2.2.3 RNC is obliged to act independently and ensure
proposed by the Board of Commissioners to the - that the remuneration policy is in accordance with
GMS is determined by considering the role of provisions based on risk, performance, peer group
each member of the Board of Commissioners, the fairness, targets, BCA’s long-term strategy, etc. In
economic situation, and corporate performance. order to carry out fair and transparent procedures,
Apart from that, consideration must also be given RNC:
to his or her position as President Commissioner - assists the Board of Commissioners in conducting
and chairman, as well as his or her membership in performance assessments in accordance with the
committees. remuneration received by members of the Board of
2.2.3 To ensure that remuneration packages are Directors and Board of Commissioners.
determined based on the achievements, - Submit evaluation results and recommendations to
qualifications, and competencies of Directors and the Board of Commissioners regarding remuneration
Commissioners by considering corporate operational policies for the Board of Commissioners and Board of
performance, individual performance, and market Directors, the structure and amount of remuneration,
conditions, the Nomination and Remuneration as well as remuneration policies for executive
Committee ensures that there are fair and transparent officers and employees to be submitted to the Board
procedures for determining remuneration policies of Directors.
for members of the Board of Directors and Board of
Commissioners.
Principle 3: Employment Relationship between the Board of Directors and the Board of Commissioners
3.1 Nature of Employment Relationships
Recommendation Implementation
3.1.1 There is an open discussion between the Board of Applied
Directors and the Board of Commissioners as well 3.1.1 Discussions between the Board of Directors and
as between members of the Board of Directors and the Board of Commissioners are carried out through
members of the Board of Commissioners. However, meetings between the Board of Commissioners and
it is still important to maintain the confidentiality the Board of Directors. The meeting discussed, among
of information to prevent leaks of confidential other things, financial performance reports and reports
information. of committees under the Board of Commissioners.
3.1.2 In accordance with their respective duties and 3.1.2 The Board of Directors coordinates and collaborates
requests, the Board of Directors collaborates with the with the Board of Commissioners in formulating
Board of Commissioners in formulating the corporate the corporate vision, mission and strategy and their
mission, vision and strategy and regularly discusses implementation.
their implementation. 3.1.3 The duties and responsibilities of the Corporate
3.1.3 The Corporate Secretary has an important role Secretary are elaborated in the Corporate Secretary
in supporting the effectiveness of the working chapter of this Annual Report, among others
relationship between the Board of Directors and encouraging corporate governance practices, building
the Board of Commissioners, encouraging the effective communication with stakeholders, but also
implementation of good corporate governance playing a role in ensuring a good flow of information
practices, including effective communication with between the Board of Commissioners and its
shareholders and other stakeholders. committees, and between the Board of Commissioners
and the Board of Directors.
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3.2 Access of information of the Board of Commissioners
Recommendation Implementation
3.2.1 The Board of Directors is responsible for ensuring Applied
that the Board of Commissioners has access to Apart from joint meetings between the Board of
accurate, relevant, and timely information. The Commissioners and the Board of Directors, the Board of
Board of Commissioners itself ensures that it obtains Directors also submits the Board of Directors’ reports to the
adequate information. The Board of Directors Board of Commissioners on a quarterly basis. In addition,
provides information to the Board of Commissioners the Board of Commissioners has access to ask the Board
regularly, without delay, and comprehensively on of Directors or relevant senior management at any time to
all issues relevant to the corporation. The Board of provide additional information related to the corporation.
Commissioners may, at any time, ask the Board of
Directors to provide additional information
3.3 Responsibility of the Board of Directors and Board of Commissioners for the Impact of Ownership Structure on the
Corporation
Recommendation Implementation
3.3.1 Impact of ownership structure on the corporation. Applied
The Board of Directors and Board of Commissioners The Board of Directors and Board of Commissioners ensure
consider their responsibilities in the context of the that the shareholder ownership structure and relationships
share ownership structure and relationships between between shareholders do not affect the implementation
corporate shareholders that may have an impact on of the roles and responsibilities of the Board of Directors
the management and operations of the corporation and Board of Commissioners (including in relation to the
Directors’ succession plan). The Board of Commissioners
also monitors, and the Board of Directors ensures that
information is disclosed correctly when conditions arise that
impact control over the corporation.
Principle 4: Ethical and responsible behavior
4.1 Code of Ethics and Conduct
Recommendation Implementation
4.1.1 This statement is outlined in the Code of Business Applied
Conduct and Ethics, which must clearly express the · BCA has a Code of Ethics, Anti-Corruption and
corporation’s expectations that each member of the Gratification Control Policies, as well as Guidelines for
Board of Directors and Board of Commissioners, as well Implementing Anti-Money Laundering and Counter-
as employees, will: Terrorism Financing Programs, which are outlined in
a. Acting in the best interests of the corporation; the form of the Board of Directors’ Decree and must be
b. Act honestly and with high standards of integrity; adhered to by all BCA Personnel, including the Board of
c. Be independent and act on complete information in Directors and Board of Commissioners.
good faith, with due diligence and care. · Work ethics, authority, duties and responsibilities,
d. Comply with the laws and regulations that apply to restrictions, etc. for the Board of Directors and Board of
the corporation and its operations; Commissioners have been regulated in the Charter of
e. Avoid actions that violate laws and regulations the Board of Directors and Board of Commissioners.
or unethical actions based on corporate ethical · The Board of Directors and the Board of Commissioners
guidelines; are also required to make an annual disclosure and
f. Not be involved in or participate in any activity complete the Integrity Pact and Code of Ethics
that will create a conflict of interest with the best Compliance Statement each year to support the
interests of the corporation or that will have a implementation of the GCG.
negative impact on the corporation’s reputation;
g. Do not take advantage of property or information
owned by the corporation, ownership of other
assets, or its customers for personal gain or which
causes losses to the corporation and its customers.
h. Not taking advantage of his or her position or the
opportunities generated by his or her position for
personal gain.
i. Avoid acts of requesting or receiving from third
parties’ payments, gratuities, or other benefits for
oneself or for other people that create a conflict
of interest/providing benefits to third parties in
violation of statutory regulations.
j. Respect differences of opinion and the rights of
every member of the Board of Directors, Board of
Commissioners and employees.
k. Ensure complete, fair, accurate, timely, and
understandable disclosure in reports and
documents submitted by the corporation to
regulators and in other public communications.
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4.1.2 The Board of Directors establishes policies and practices
for anti-money laundering and counter-terrorism
financing, anti-bribery, anti-corruption, anti-fraud,
and involvement in politics by referring to national
or international standards regarding anti-money
laundering, anti-bribery, anti-corruption, anti-fraud, or
other related standards
4.2 Organizational Values and Culture
Recommendation Implementation
4.2.1 The corporation articulates, cultivates and expresses Applied
corporate culture and values BCA has a Code of Ethics that applies to all BCA employees
4.3 Communication and Enforcement of Ethics, Values, and and is effectively communicated through means that are
Culture Guidelines easily accessible to employees, such as video screenings
available to all BCA employees on BCA's internal portal
Recommendation (myVideo), Code of Ethics statements and integrity pacts
are filled electronically through BCA's internal portal, and
4.3.1 The corporate code of conduct and ethics are
send e-mail reminders to all employees. New employees
communicated effectively to the Board of Directors,
are accompanied by a buddy who introduces them to the
Board of Commissioners, and all employees, integrated
corporate culture, including the Code of Ethics and the
into corporate strategy and operations, including the risk
obligation to complete e-learning on the Banker Code of
management system and remuneration structure, and
Ethics.
enforced.
5. Risk Management, Internal Control and Compliance
5.1 Internal Control and Compliance
Recommendation Implementation
5.1.1 The Board of Directors periodically reviews the Applied
accuracy of the design and operational effectiveness The Internal Audit Division, which acts as the third line,
of the governance system, risk management, internal provides risk-based, independent, and objective assurance
control, and corporate compliance and reports and advice regarding the adequacy and effectiveness
the implementation and results of the review to of governance processes, risk management, and internal
shareholders through the corporation’s annual report. control. The Internal Audit Division (DAI) communicates audit
results to the Board of Directors, Audit Committee, and
Board of Commissioners.
In implementing the operational effectiveness of the
governance system, risk management and risk control. The
responsibilities of the Board of Directors include first and
second line roles that are responsible for providing products
and services to customers, including risk management, and
play a role in providing support related to risk management,
including responsibility for enterprise risk management,
which includes, among others, the Compliance Director,
Risk Management Director, Risk Management Division, and
Compliance Division.
5.2 Risk Management
Recommendation Implementation
5.2.1 Strategy and risk are one unit, disclosed transparently, Applied
included in the implementation of the duties and 5.2.1 The Board of Commissioners and the Board of
responsibilities of the Board of Directors and Board Directors are involved in active supervision of the
of Commissioners, as well as in discussions at implementation of risk management at BCA. The
meetings of the Board of Commissioners and Board of Board of Directors also actively holds discussions,
Directors. provides input, and monitors internal conditions
5.2.2 The Risk Management Monitoring Committee assists and developments in external factors that directly
in the implementation of the duties of the Board of or indirectly influence BCA’s business strategy. A
Commissioners by creating a transparent, focused, description of the active supervision of the Board of
and independent mechanism for supervising Commissioners and Directors in implementing risk
corporate risk management. management can be seen in the Risk Management
Disclosure and Risk Management System Chapter of
this Annual Report.
5.2.2 BCA has a Risk Oversight Committee that assists
in the implementation of the duties of the Board
of Commissioners. The roles, responsibilities,
and composition of the members of the BCA Risk
Monitoring Committee can be seen in the Chapter on
Committees of the Board of Commissioners.
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
5.3 Integration of Governance, Risk Management, and Compliance
Recommendation Implementation
5.3.1 The Board of Directors builds an integrated Applied
governance, risk management, and compliance
(GRC) system by handling various uncertainties in an 5.3.1 BCA applies the three-line model framework to
integrated manner and with high integrity to ensure support the creation of reliable risk management and
that the corporation can achieve its goals. governance.
5.3.2 The Board of Directors ensures that the department
in charge of the compliance function does not The first line is responsible for providing products and
concurrently carry out functions that have the services to customers, including managing related
potential to cause a conflict of interest. risks.
The second line’s role is to provide support related
to risk management, including responsibility for
enterprise risk management. The second-line role
is carried out by the Compliance Director, Risk
Management Director, Risk Management Division, and
Compliance Division.
The third line’s role is to provide risk-based,
independent, and objective assurance and advice
regarding the adequacy and effectiveness of
governance processes, risk management, and internal
control. The third-line role is carried out by the Internal
Audit Division, which will communicate audit results to
the Board of Directors, Board of Commissioners, and
Audit Committee.
5.3.2 BCA has organisational divisions with clear duties and
responsibilities so that the Compliance Function does
not duplicate and carry out functions that have the
potential to cause conflicts of interest.
5.4 Internal Audit
Recommendation Implementation
5.4.1 The Board of Commissioners through the Audit Applied
Committee monitors and ensures that the internal The Board of Commissioners, through the Audit Committee,
audit function helps the corporation to achieve monitors and reviews the effectiveness of BCA’s internal
its goals by bringing an objective and disciplined audit implementation, including ensuring that DAI, as the
approach to evaluating and improving the third line, whose role is to provide risk-based, independent,
effectiveness of risk management, internal control and objective assurance and advice regarding the adequacy
and corporate governance. and effectiveness of governance, risk management, and
internal control processes, works independently. The roles,
responsibilities, and composition of BCA Audit Committee
members can be seen in the Board of Commissioners
Committees Chapter.
Principle 6: Disclosure and Transparency
6.1 Disclosure Policy
Recommendation Implementation
6.1.1 The corporation has disclosure and transparency Applied
policies and procedures that ensure disclosure BCA has a policy on information disclosure as stiputaed in
of material information and safeguard sensitive the Governance Guidelines and ensures that all shareholders
information and corporate secrets. 6.1.2 Shareholders’ have the same rights to obtain material information
rights to obtain regularly and in a timely manner correctly, on time, and periodically in accordance with
relevant material information about the corporation applicable regulations.
must be fulfilled. The implementation of Information Disclosure in BCA is
6.1.2 The right of shareholders to obtain regularly and in accordance with applicable regulations while ensuring
timely relevant material information about the the principle of prudence and maintaining corporate
corporation must be fulfilled. confidentiality.
524 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
6.2 Financial and Sustainability Report
Recommendation Implementation
6.2.1 The Corporation discloses systems and procedures Applied
to ensure that interim financial reports that have not 6.2.1 Financial Reports are presented and disclosed
been audited or reviewed by an external auditor are in accordance with Regulation Number VIII.G.7
materially accurate, complete, and provide investors (“Regulation VIII.G.7”) concerning Presentation and
with appropriate information to make informed Disclosure of Issuer Financial Reports and Financial
investment decisions. Accounting Standards in Indonesia issued by DSAK-IAI
6.2.2 The Audit Committee ensures the quality of the as well as other relevant regulations and have been
financial report audit carried out by the external presented to management and the audit committee for
auditor. These activities include recommending the approval.
appointment, reappointment, and, if necessary,
dismissal and remuneration of external auditors.
6.2.3 Sustainability reports must be prepared and disclosed
accurately and in accordance with national or
international sustainability reporting frameworks.
6.2.4 The corporation publishes an integrated annual report 6.2.2 Regarding financial reports and information, the
that puts historical performance into context and Audit Committee has the following duties and
describes the corporation’s risks, opportunities, and responsibilities:
future prospects, thereby helping shareholders and a. Review financial information that BCA will release
stakeholders understand the corporation’s strategic to the public and/or authorities and other reports
objectives and its progress in creating sustainable related to BCA’s financial information.
value. b. Review and report to the Board of Commissioners
complaints relating to BCA’s accounting and
financial reporting processes. The appointment
of PA and/or PAF, who will provide audit services
for annual historical financial information, must be
decided by the GMS by considering the proposal
of the Board of Commissioners. The proposal in
question must consider the recommendations of
the Audit Committee.
6.2.3 Sustainability reporting guidelines and standards refer
to:
• OJK Regulation No. 51/POJK.03/2017
concerning Sustainable Finance, which also
refers to the OJK Circular Letter No. 16/
SEOJK.04/2021;
• Global Reporting Initiatives (GRI) Standards
2021, with conformity: with reference to the GRI
Standards;
• GRI-G4 Sector Disclosures: Financial Sector
Supplement Disclosures (FSSS);
• Sustainability Accounting Standards Board
(SASB) Commercial Banks category
• Sustainable Banking Assessment (SUSBA)
Environmental, Social, and Governance (ESG)
Integration Pillars from the World-Wide Fund for
Nature (WWF); and
• Terms of reference for the Task Force on
Climate-Related Financial Disclosures (TCFD).
BCA uses external parties to check the quality of
reports according to the sustainability reporting
principles and standards used.
6.2.4 The BCA Annual Report is prepared based on
provisions regarding the form and content of an
issuer’s or public company’s annual report, which
also includes performance reports, risks, strategic
plans, etc., so as to help stakeholders understand the
company’s strategic direction
2024 Annual Report PT Bank Central Asia Tbk 525
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
6.3 Information Dissemination
Recommendation Implementation
6.3.1 Information dissemination channels should provide Applied
equal, timely, and relatively inexpensive access to 6.3.1 BCA has a website (https://www.bca.co.id/) which is
relevant information for users. easy to access at any time for the wider community.
6.3.2The Corporation ensures that an annual disclosure BCA also holds analyst meetings every quarter
on the implementation of the General Guidelines and a public expose once a year to communicate
for Indonesian Corporate Governance, including with financial analysts, shareholders, and the wider
an explanation of the implementation of each community. Apart from that, to ensure ease of
recommendation and guide, is available on the information, BCA also provides access to information
website for a minimum period of five years. on various social media, including X, facebook,
6.3.3For corporations listed on the capital market in a YouTube, LinkedIn, Instagram, Line and Tiktok.
jurisdiction other than their home jurisdiction, the 6.3.2 The annual disclosure regarding the implementation
applicable corporate governance laws and regulations of the General Guidelines for Indonesian Corporate
must be clearly disclosed. In the case of cross-listing Governance, including explanations and the
criteria and procedures, criteria and procedures for implementation of regulations related to the
recognizing listing requirements for the main listing governance of commercial banks and issuers, is
must be transparent and documented. available in the Annual Report uploaded on the BCA
website more than 5 (five) years.
6.3.3 In addition to regulations relating to commercial banks,
BCA is also comply with Indonesian capital market
regulations.
Principle 7: Protection of Shareholder Rights
7.1 Shareholder Rights
Recommendation Implementation
7.1.1 The corporation has a communications policy that Applied
facilitates and encourages shareholder or investor 7.1.1 BCA realizes the importance of communication
participation. policies that regulate communication between BCA
7.1.2 The corporation, which is the parent entity, ensures and its stakeholders. BCA has a Communication
that its corporate governance policies apply to and Information Disclosure Policy outlined in the
subsidiaries and entities under common control in Governance Guidelines to support transparent
which the corporation’s investment is significant. and effective communication with stakeholders.
7.1.3 The corporation has rules and procedures governing Communication platforms include GMS, analyst
acquisitions, takeovers, and extraordinary transactions meetings, public exposes, etc.
such as mergers and sales of substantial corporate 7.1.2 BCA as the parent entity holds quarterly discussions
assets to ensure transactions occur transparently and/or sharing sessions between the BCA GCG Team
and under fair conditions and protect the rights of all and the Subsidiary Company Team. Considering the
shareholders according to their class. complexity and diversification of different Subsidiary
Companies’ businesses, BCA also carries out
integrated governance mapping in accordance with
applicable regulations in each subsidiary company
to ensure the implementation of good corporate
governance in the financial conglomerate.
7.1.3 BCA has a policy regarding capital participation
including the acquisition and takeover of shares to
ensure that transactions proceed transparently and
fairly and protect the rights of shareholders.
7.2 Fair Treatment of Shareholders
Recommendation Implementation
7.2.1 The corporation has rules and procedures that ensure: Applied
a) all shareholders of the same series in one class 7.2.1 BCA only has one series of shares. All shareholders
of shares must be treated equally; disclosure of have the same voting rights and receive the same
these rules and procedures; treatment from BCA. BCA also has a dividend policy
b) and disclosure of capital structures and as part of the transparency of shareholder rights to
arrangements that allow certain shareholders obtain a share of profits.
to obtain influence or control that is 7.2.2 BCA has a policy on related party transactions,
disproportionate to their share ownership. which is conducted in a manner that ensures that
7.2.2 The corporation has rules and procedures that transactions are fair and reasonable (arm's length
ensure related-party transactions are approved and transactions). This policy is outlined in the Board of
implemented in a manner that ensures that conflicts Directors Decree on Affiliated Party Transactions and
of interest are managed appropriately and protects Conflict of Interest Transactions.
the interests of the corporation and shareholders. 7.2.3 BCA has an insider trading policy to prevent anyone
7.2.3 The corporation has and discloses policies to from benefiting from information that is not yet
prevent insider trading. Corporations have clear rules available on the market.
regarding any trading in corporate shares carried out
by directors, commissioners, and insiders to ensure
that anyone cannot profit directly or indirectly from
information that is not yet available on the market.
526 PT Bank Central Asia Tbk 2024 Annual Report
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Corporate Governance Corporate Social and Environmental Responsibility Consolidated Financial Statements
7.3 General Meeting of Shareholders
Recommendation Implementation
7.3.1 The corporation calls for a GMS with the GMS agenda Applied
and materials as complete and as early as possible 7.3.1 BCA calls for GMS 28 (twenty-eight days) before the
(no later than 28 days before the GMS) to provide AGMS is held. BCA also provides explanations for each
sufficient time and materials for shareholders agenda item that requires shareholder approval via
to properly study the meeting agenda. Meeting the BCA website so that the wider public can easily
invitations and all GMS information are disclosed access the GMS materials.
via electronic means, such as through the corporate 7.3.2 The GMS rules and procedures are outlined in the GMS
website. Rules and Vote Counting Mechanism, uploaded on the
7.3.2 The corporation has and discloses rules and BCA website, and read out as well as presented at the
procedures that facilitate shareholders in start of the GMS. Voting for each GMS agenda item
participating and voting effectively at the GMS. (for one decision), and BCA appoints PT Saham Raya
7.3.3 Shareholders participate effectively in determining Registra and Notary Christina Dwi Utami, SH, M.Hum,
the appointment of members of the Board of Mkn, to count the votes.
Directors and Board of Commissioners. 7.3.3 Shareholders participate in voting on the agenda for
7.3.4 The corporation ensures the transparency and appointing members of the Board of Directors and
accountability of external auditors at the GMS. Board of Commissioners.
7.3.5 The submission of voting results and a complete 7.3.4 The appointment of a registered PAF (including
summary of the GMS minutes are announced to the registered PAs who are members of a registered
public on the following working day. PAF) to audit/examine BCA reports is carried out on a
separate agenda at the GMS. PAF and PA profiles are
also presented at the GMS invitation.
7.3.5 The main points of the GMS decisions are announced
to the public on the same day after the completion
of the GMS via the website www.bca.co.id. The
voting results and summary of the GMS minutes are
announced to the public via the BCA website within 1
(one) working day after the GMS was held.
Principle 8: Other Stakeholders
8.1 Key Stakeholder Engagement
Recommendation Implementation
8.1.1 The Corporation, through the Corporate Secretary, Applied
carries out regular, transparent and effective The Corporate Secretary provides a communication
communication with key stakeholders and involves channel for all BCA stakeholders. BCA is also always open
them to understand their hopes and complaints as to receiving opinions, input, suggestions, and complaints
well as the impact of the corporation on them. from stakeholders. Access or means of information for
stakeholders can be seen in the Information Access Chapter
of this Annual Report
8.2 Integration of Sustainability in Business Models
Recommendation Implementation
8.2.1 The Board of Commissioners, together with the Applied
Board of Directors, are responsible, accountable, and The Board of Directors ensures that corporate sustainability
transparent for sustainability governance, including strategies, priorities, and targets, as well as performance
determining corporate sustainability strategies, towards these targets, are communicated to stakeholders.
priorities, and targets. The Board of Directors and BCA’s Board of Directors and Board of Commissioners
Board of Commissioners include sustainability always keep up and understand sustainability issues that are
considerations when carrying out their roles, relevant to the corporation.
including, among others, in the development and
implementation of corporate strategy, business plans,
main action plans, and risk management.
2024 Annual Report PT Bank Central Asia Tbk 527
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Financial Highlights Management Report Corporate Profile Management Discussion and Analysis
8.3 Protection of Stakeholders
Recommendation Implementation
8.3.1 The Board of Directors ensures and discloses that Applied
corporate operations reflect the implementation of 8.3.1 BCA has a policy regarding corporate responsibility
high standards of ethics and social and environmental to clients/customers, vendors, shareholders, and
responsibility throughout the corporation and other stakeholders, including in terms of social and
ensure that appropriate policies and procedures are environmental responsibility. A description of the
implemented to respect and comply with stakeholder implementation of stakeholder rights can be seen
rights. in the Access to Information Chapter of this Annual
8.3.2 The Board of Directors encourages employees to Report.
work for the long-term interests of the corporation 8.3.2 In order to prioritize sustainability, BCA has a policy
and prioritizes sustainability. of providing long-term incentives in the form of
long-term share-based incentives to employees as
a reward for maintaining and improving employee
performance, which encourages sustainable value
creation. BCA uses the results of performance
assessments as recommendations for consideration of
promotions and adjustments to remuneration, bonuses
and career paths.
6. ASEAN Corporate Governance Scorecard (ACGS)
The implementation of ACGS at BCA is presented in more detail on the BCA website https://www.bca.co.id/en/
tentang-bca/tata-kelola/acgs
7. Bad Corporate Governance Statement
BCA continues to strive to implement regulations or provisions related to corporate governance. Throughout 2024,
BCA did not carry out bad corporate governance practices that could disrupt the implementation of Good Corporate
Governance as shown in the table below:
No. Description Practice
1 There is a report as a company that pollutes the environment Nil
2 Important cases being faced by the company, subsidiaries, members of the Board of Directors and/ Nil
or members of the Board of Commissioners who are currently serving which are not disclosed in the
Annual Report
3 There is no disclosure of operating segments in listed companies Nil
4 There is a discrepancy between the hardcopy Annual Report and the softcopy Annual Report Nil
5 Inconsistency in the presentation of the Annual Report and Financial Reports with applicable Nil
regulations and SAK.
528 PT Bank Central Asia Tbk 2024 Annual Report
Page 531
o c i al
S ntal
O5
te
o r p
C Envir
o
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i
a
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oyn m e
an d
onsi
Resp
Information on our activities related to social and
environmental responsibility (TJSL) is submitted in
the 2023 Sustainability Report, which published in
separate book and submitted in the same time with
this Annual Report, in line with OJK Circular Letter
16/SEOJK.04/2021. Part of the information is in
accordance with ISO26000 guidelines, including
disclosure of human rights, employment, fair
business practices, environment, customer service,
and community engagement and empowerment. In
general, the information in the annual report and the
sustainability report is complementary.
Page 532
Statement of Members of the Board of Commissioners and the Board of Directors regarding Responsibility for the 2024 Annual Report of PT Bank Central Asia Tbk We, the undersigned, hereby declare that all information in the Annual Report of PT Bank Central Asia Tbk for the year 2024 has been presented in its entirety, and that we assume full responsibility for the accuracy of the contents of this Annual Report. This statement is duly made in all integrity. Jakarta, February 2025 Members of the Board of Commissioners Djohan Emir Setijoso President Commissioner Tonny Kusnadi Cyrillus Harinowo Raden Pardede Sumantri Slamet Commissioner Independent Commissioner Independent Commissioner Independent Commissioner Members of the Board of Directors Jahja Setiaatmadja Armand Wahyudi Hartono Gregory Hendra Lembong President Director Deputy President Director Deputy President Director Subur Tan Rudy Susanto Lianawaty Suwono Director Director Director Santoso Vera Eve Lim Haryanto Tiara Budiman Director Director Director Frengky Chandra Kusuma John Kosasih Antonius Widodo Mulyono Director Director Director
Page 533
O6 PT Bank Central Asia Tbk and Subsidiaries Consolidated Financial Statements 31 December 2024 and 2023
Page 534
Page 535
Page 536
Page 537
Page 538
Page 539
Page 540
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 1/1
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
31 December
Notes 2024 2023
ASSETS
2b,2g,4,37,
Cash 40,43 29,315,878 21,701,514
2b,2g,2i,5,37,
Current accounts with Bank Indonesia 40,43 36,408,142 92,617,705
Current accounts with other banks - net of allowance for
impairment losses of Rp 638 as of 31 December 2024 2b,2g,2i,6,37,
(31 December 2023: Rp 899) 40,43 4,097,199 5,614,353
Placements with Bank Indonesia and other banks - net
of allowance for impairment losses of Rp 1,712 2b,2g,2j,7,37,
as of 31 December 2024 (31 December 2023: Rp 684) 40,43 15,714,884 5,201,661
2g,2k,8,37,40,
Financial assets at fair value through profit or loss 43 21,524,617 15,058,660
Acceptance receivables - net of allowance for
impairment losses of Rp 440,695 as of 31 December 2024 2g,2l,9,37,40,
(31 December 2023: Rp 283,115) 43 9,621,047 14,659,624
Bills receivable - net of allowance for impairment losses of
Rp 3,116 as of 31 December 2024
(31 December 2023: Rp 4,516) 2g,10,37,40,43 8,891,769 10,383,524
Securities purchased under agreements to resell - net of
allowance for impairment losses of Rp 1,041
as of 31 December 2024 (31 December 2023: Rp 998) 2g,2n,11,37,43 1,449,562 93,096,153
Loans receivable - net of allowance for impairment
losses of Rp 32,624,643 as of 2g,2m,12,37,40,
31 December 2024 (31 December 2023: Rp 33,308,875) 41,43
Related parties 2ak,46 7,174,457 8,406,659
Third parties 861,511,753 750,481,180
Consumer financing receivables - net of allowance for impairment
losses of Rp 363,284 as of 31 December 2024
(31 December 2023: Rp 327,946) 2g,2o,13,37,43 9,435,564 8,713,450
Finance lease receivables - net of allowance for impairment
losses of Rp 513 as of 31 December 2024
(31 December 2023: Rp 1,399) 2g,2p,37,43 51,042 139,007
Assets related to sharia transactions - net of allowance for impairment
losses of Rp 510,590 as of 31 December 2024
(31 December 2023: Rp 422,934) 2g,2q 10,206,637 8,590,618
Investment securities - net of allowance for impairment
losses of Rp 552,566 as of 31 December 2024 2g,2r,14,37,40,
(31 December 2023: Rp 544,480) 43 371,151,957 312,053,624
Prepaid expenses 15 969,926 1,039,030
Prepaid tax 20a 1,562,175 24,868
Fixed assets - net of accumulated depreciation of
Rp 9,899,706 as of 31 December 2024
(31 December 2023: Rp 10,100,123) 2h,2s,16 28,250,624 26,824,744
Intangible assets - net of accumulated amortisation of
Rp 917,036 as of 31 December 2024
(31 December 2023: Rp 1,057,495) 2e,2u,17 1,805,639 1,564,773
Deferred tax assets - net 2ah,20h 5,495,208 7,451,236
Other assets - net of allowance for impairment losses of
Rp 23,194 as of 31 December 2024 2g,2h,2t
(31 December 2023: Rp 3,021) 18,40,43
Related parties 2ak,46 9,511 9,121
Third parties 24,653,737 24,475,506
TOTAL ASSETS 1,449,301,328 1,408,107,010
The accompanying notes to the consolidated financial statements form an integral part of these consolidated
financial statements.
538 PT Bank Central Asia Tbk 2024 Annual Report
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PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 1/2
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
31 December
Notes 2024 2023
LIABILITIES, TEMPORARY SYIRKAH DEPOSITS, AND EQUITY
LIABILITIES
Deposits from customers 2g,2v,19,37,40,43
Related parties 2ak,46 3,235,633 2,639,237
Third parties 1,117,378,034 1,088,127,570
Sharia deposits 2g,2w 3,935,363 3,201,970
Deposits from other banks 2g,2v,19,37,40,43 3,656,298 10,070,820
Financial liabilities at fair value through profit or loss 2g,2k,8,37,40,43 257,613 122,765
Acceptance payables 2g,2l,9,37,40,43 4,651,955 6,701,256
2g,2n,14,37,40,43
Securities sold under agreements to repurchase 47 1,330,996 1,054,780
Tax payable 2ah,20b 626,355 1,727,910
Borrowings 2g,21,37,40,43,47 2,242,516 1,629,626
Estimated losses from commitments and contingencies 2g,2ab,22,40,43 2,975,187 3,371,674
Accruals and other liabilities 2g,2ab,23,40,43 27,515,449 29,495,865
Post-employment benefits obligation 2ag,38 9,097,709 9,032,072
Subordinated bonds 2g,2z,24,37,43,47 500,000 500,000
TOTAL LIABILITIES 1,177,403,108 1,157,675,545
TEMPORARY SYIRKAH DEPOSITS 2x 9,063,133 7,893,872
EQUITY
Equity attributable to equity holders of parent entity
Share capital - par value per share of Rp 12.50 (full amount)
Authorised capital: 440,000,000,000 shares
Issued and fully paid-up capital: 123,275,050,000 shares 1c,25 1,540,938 1,540,938
Additional paid-in capital 1c,2e,2ad,26 5,548,977 5,548,977
Revaluation surplus of fixed assets 2s,16 11,138,896 10,936,462
Foreign exchange differences arising from translation of
financial statements in foreign currency 2f 457,789 422,502
Unrealised gains (losses) on financial assets at
fair value through other comprehensive income - net 2g,2r,7,14 273,214 948,627
Retained earnings
Appropriated 36 3,720,540 3,234,149
Unappropriated 2ag 239,958,882 219,723,216
Other equity components 2e 1,385 1,385
Total equity attributable to equity holders of parent entity 262,640,621 242,356,256
Non-controlling interest 1d,2e,45 194,466 181,337
TOTAL EQUITY 262,835,087 242,537,593
TOTAL LIABILITIES, TEMPORARY SYIRKAH DEPOSITS, AND EQUITY 1,449,301,328 1,408,107,010
The accompanying notes to the consolidated financial statements form an integral part of these consolidated
financial statements.
2024 Annual Report PT Bank Central Asia Tbk 539
Page 542
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 2/1
CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND
OTHER COMPREHENSIVE INCOME
FOR THE YEARS ENDED 31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
Notes 2024 2023
OPERATING INCOME AND EXPENSES
Interest and sharia income 2ad,2aj,28,46
Interest income 93,991,349 86,542,585
Sharia income 805,105 663,932
Total interest and sharia income 94,796,454 87,206,517
Interest and sharia expense 2ad,2aj,29,46
Interest expense (12,137,180) (11,954,918)
Sharia expense (395,110) (314,034)
Total interest and sharia expense (12,532,290) (12,268,952)
NET INTEREST AND SHARIA INCOME 82,264,164 74,937,565
OTHER OPERATING INCOME
Fees and commission income - net 2ae,30 17,979,919 16,622,141
Net income from transaction at fair value
through profit or loss 2af,31 2,854,529 1,887,500
Others 5,207,929 5,069,478
Total other operating income 26,042,377 23,579,119
Impairment losses on assets 2g,32 (2,034,453) (1,056,192)
OTHER OPERATING EXPENSES
Personnel expenses 2ag,2aj,33,38,46 (17,444,242) (16,197,811)
General and administrative expenses 2aj,16,34,46 (16,874,142) (17,305,639)
Others (3,735,854) (3,777,285)
Total other operating expenses (38,054,238) (37,280,735)
INCOME BEFORE TAX 68,217,850 60,179,757
INCOME TAX EXPENSE 2ah,20c (13,366,576) (11,521,662)
NET INCOME 54,851,274 48,658,095
OTHER COMPREHENSIVE INCOME:
Items that will not be reclassified to profit or loss:
Remeasurements of defined benefit obligation 2ag,38 71,872 (559,449)
Income tax on remeasurements of defined benefit obligation 2ah (13,514) 106,457
58,358 (452,992)
Revaluation surplus of fixed assets 2s,16 238,886 231,837
297,244 (221,155)
Items that will be reclassified to profit or loss:
Unrealised gains (losses) on financial assets at fair value through
other comprehensive income 2j,2r,7,14 (824,292) (1,083,532)
Income tax 2ah 146,807 206,344
(677,485) (877,188)
Foreign exchange differences arising from translation of
financial statements in foreign currency 2f 35,287 (7,866)
(642,198) (885,054)
OTHER COMPREHENSIVE INCOME,
NET OF INCOME TAX (344,954) (1,106,209)
TOTAL COMPREHENSIVE INCOME (Carried forward) 54,506,320 47,551,886
The accompanying notes to the consolidated financial statements form an integral part of these consolidated
financial statements.
540 PT Bank Central Asia Tbk 2024 Annual Report
Page 543
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 2/2
CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND
OTHER COMPREHENSIVE INCOME
FOR THE YEARS ENDED 31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
Notes 2024 2023
TOTAL COMPREHENSIVE INCOME (Brought forward) 54,506,320 47,551,886
NET INCOME ATTRIBUTABLE TO:
Equity holders of parent entity 54,836,305 48,639,122
Non-controlling interest 2e,45 14,969 18,973
54,851,274 48,658,095
COMPREHENSIVE INCOME ATTRIBUTABLE TO:
Equity holders of parent entity 54,493,191 47,533,598
Non-controlling interest 2e,45 13,129 18,288
54,506,320 47,551,886
BASIC AND DILUTED EARNINGS PER SHARE
ATTRIBUTABLE TO EQUITY HOLDERS OF
PARENT ENTITY (full amount) 2ac,35 445 395
The accompanying notes to the consolidated financial statements form an integral part of these consolidated
financial statements.
2024 Annual Report PT Bank Central Asia Tbk 541
Page 544
542
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 3/1
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
FOR THE YEARS ENDED 31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
2024
Attributable to equity holders of parent entity
Foreign
exchange Unrealised
differences gains (losses)
PT Bank Central Asia Tbk
arising from on financial
translation of assets at fair Total equity
financial value through attributable to
Issued and Additional Revaluation statements in other equity holders Non-
fully paid-up paid-in surplus of foreign comprehensive Retained earnings Other equity of parent controlling
Notes capital capital fixed assets currency income - net Appropriated Unappropriated components entity interest Total equity
Balance, 31 December 2023 1,540,938 5,548,977 10,936,462 422,502 948,627 3,234,149 219,723,216 1,385 242,356,256 181,337 242,537,593
-
Net income for the year - - - - - - 54,836,305 - 54,836,305 14,969 54,851,274
Revaluation surplus of fixed assets 2s,16 - - 202,434 - - - 36,452 - 238,886 - 238,886
Foreign exchange differences arising
from translation of financial
statements in foreign currency 2f - - - 35,287 - - - - 35,287 - 35,287
Unrealised gain (losses) on financial
assets at fair value through other
comprehensive income - net 2j,2r,7,14 - - - - (675,413) - - - (675,413) (2,072) (677,485)
Remeasurements of defined
benefit liability - net 2ag,2ah,38 - - - - - - 58,126 - 58,126 232 58.358
Total comprehensive income
for the year - - 202,434 35,287 (675,413) - 54,930,883 - 54.493.191 13,129 54.506.320
General reserve 36 - - - - - 486,391 (486,391) - - - -
Cash dividends 36 - - - - - - (34,208,826) - (34,208,826) - (34,208,826)
Balance, 31 December 2024 1,540,938 5,548,977 11,138,896 457,789 273,214 3,720,540 239,958,882 1,385 262,640,621 194,466 262,835,087
The accompanying notes to the consolidated financial statements form an integral part of these consolidated financial statements.
2024 Annual Report
Page 545
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 3/2
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
FOR THE YEARS ENDED 31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
2024 Annual Report
2023
Attributable to equity holders of parent entity
Foreign
exchange Unrealised
differences gains (losses)
arising from on financial
translation of assets at fair Total equity
financial value through attributable to
Issued and Additional Revaluation statements in other equity holders Non-
fully paid-up paid-in surplus of foreign comprehensive Retained earnings Other equity of parent controlling
Notes capital capital fixed assets currency income - net Appropriated Unappropriated components entity interest Total equity
Balance, 31 December 2022 1,540,938 5,548,977 10,713,088 430,368 1,824,992 2,826,792 198,132,066 1,385 221,018,606 163,049 221,181,655
Net income for the year - - - - - - 48,639,122 - 48,639,122 18,973 48,658,095
Revaluation surplus of fixed assets 2s,16 - - 223,374 - - - 8,463 - 231,837 - 231,837
Foreign exchange differences arising
from translation of financial
statements in foreign currency 2f - - - (7,866) - - - - (7,866) - (7,866)
Unrealised gain (losses) on financial
assets at fair value through other
comprehensive income - net 2j,2r,7,14 - - - - (876,365) - - - (876,365) (823) (877,188)
Remeasurements of defined
benefit liability - net 2ag,2ah,38 - - - - - - (453,130) - (453,130) 138 (452,992)
Total comprehensive income
for the year - - 223,374 (7,866) (876,365) - 48,194,455 - 47,533,598 18,288 47,551,886
General reserve 36 - - - - - 407,357 (407,357) - - - -
Cash dividends 36 - - - - - - (26,195,948) - (26,195,948) - (26,195,948)
Balance, 31 December 2023 1,540,938 5,548,977 10,936,462 422,502 948,627 3,234,149 219,723,216 1,385 242,356,256 181,337 242,537,593
PT Bank Central Asia Tbk
The accompanying notes to the consolidated financial statements form an integral part of these consolidated financial statements.
543
Page 546
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 4/1
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED 31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
Notes 2024 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts of interest and sharia income, fees and commissions 110,947,606 106,414,649
Other operating income 6,141,705 6,355,896
Payments of interest and sharia expenses, fees and commissions (12,578,014) (12,184,461)
Payments of post-employment benefits 38 (1,165,422) (369,720)
Gains (losses) from foreign exchange transactions - net 3,024,747 (516,985)
Other operating expenses (36,985,821) (35,130,988)
Payment of tantiem to Board of Commissioners and Board of Directors 36 (765,000) (660,000)
Other increases (decreases) affecting cash:
Placements with Bank Indonesia and other banks - mature
more than 3 (three) months from the date of acquisition 696,624 417,504
Financial assets at fair value through profit or loss (5,384,422) (12,118,168)
Acceptance receivables 4,880,997 572,359
Bills receivable 1,718,437 (4,489,425)
Securities purchased under agreements to resell 91,646,548 60,869,260
Loans receivable (111,218,318) (100,405,857)
Consumer financing receivables (1,075,617) (670,970)
Finance leases receivables - net 88,851 (17,464)
Assets related to sharia transactions (1,696,820) (1,712,883)
Other assets (138,657) (7,521,645)
Deposits from customers 26,690,842 61,073,381
Sharia deposits 733,393 376,110
Deposits from other banks (6,480,950) 2,154,145
Acceptance payables (2,049,301) (2,965,392)
Accruals and other liabilities (2,098,166) 9,010,494
Temporary syirkah deposits 1,169,261 1,453,497
Net cash provided by (used in) operating activities before
income tax 66,102,503 69,933,337
Payment of income tax (12,282,274) (11,869,562)
Net cash provided by (used in) operating activities 53,820,229 58,063,775
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of investment securities (216,097,218) (162,625,112)
Proceeds from sales of investment securities 770,959 50,000
Proceeds from investment securities that matured
during the year 160,506,459 97,872,788
Cash dividends received from investment in shares 38,095 34,528
Acquisition of fixed assets (3,565,731) (4,697,731)
Acquisition of right-of-use assets (607,448) (401,617)
Proceeds from sale of fixed assets 16 6,378 22,086
Net cash provided by (used in) investing activities (58,948,506) (69,745,058)
The accompanying notes to the consolidated financial statements form an integral part of these consolidated
financial statements.
544 PT Bank Central Asia Tbk 2024 Annual Report
Page 547
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 4/2
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED 31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
Notes 2024 2023
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from borrowings 47 73,287,728 49,928,825
Payment of borrowings 47 (72,680,017) (49,607,671)
Payment of cash dividends 36 (34,208,826) (26,195,948)
Proceeds from securities sold under agreements
to repurchase 47 559,231 2,332,995
Payment of securities sold under agreements
to repurchase 47 (286,805) (1,528,882)
Net cash provided by (used in) financing activities (33,328,689) (25,070,681)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (38,456,966) (36,751,964)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 124,395,987 160,422,371
EFFECT OF FOREIGN EXCHANGE RATE FLUCTUATIONS ON
CASH AND CASH EQUIVALENTS (456,491) 725,580
CASH AND CASH EQUIVALENTS, END OF YEAR 85,482,530 124,395,987
Cash and cash equivalents consist of:
Cash 4 29,315,878 21,701,514
Current accounts with Bank Indonesia 5 36,408,142 92,617,705
Current accounts with other banks 6 4,097,837 5,615,252
Placements with Bank Indonesia and other banks - mature
within 3 (three) months or less from the date of acquisition 7 15,660,673 4,461,516
Total cash and cash equivalents 85,482,530 124,395,987
The accompanying notes to the consolidated financial statements form an integral part of these consolidated
financial statements.
2024 Annual Report PT Bank Central Asia Tbk 545
Page 548
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/1
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
1. GENERAL
a. Establishment and general information of the Bank
PT Bank Central Asia Tbk (“Bank”) was established in the Republic of Indonesia based
on the Deed of Establishment No. 38 dated 10 August 1955, drawn up before Raden Mas
Soeprapto, Deputy Notary in Semarang under the name "N.V. Perusahaan Dagang Dan
Industrie Semarang Knitting Factory". This deed has been approved by the Minister of
Justice based on stipulation No. J.A.5/89/19 dated 10 October 1955 and announced in
State Gazette No. 62 dated 3 August 1956, Supplement No. 595. Since its establishment,
the name of the Bank has been changed several times, and the name change to PT Bank
Central Asia based on the Deed of Amendment to the Articles of Association No. 144
dated 21 May 1974, made before Wargio Suhardjo, S.H., substitute for Notary Ridwan
Suselo, Notary in Jakarta.
The Bank’s Articles of Association have been amended several times in accordance with:
a. The Bank’s changed its status from a private company to publicly-listed company
based on the Deed of Amendment to the Articles of Association No. 62 dated 29
December 1999, made by Notary Hendra Karyadi, S.H., which has been approved by
the Minister of Justice in its decision letter No. C-21020 HT.01.04.TH.99 dated 31
December 1999 and published in Official Gazette (Berita Negara) of the Republic of
Indonesia No. 30, dated 14 April 2000, Supplement No. 1871;
b. Law No. 40 of 2007 on Limited Liability Companies, and Capital Market and Financial
Institution Supervisory Agency (“Bapepam-LK”) Regulation No. IX.J.1 on The
Principle of the Company’s Articles of Association that performs Public Offering of
Securities Issued and Public Company, Appendix of decree of the Head of Bapepam-
LK No. Kep-179/BL/2008 dated 14 May 2008 as stated in the Deed of Statement of
Meeting Resolution No. 19, dated 15 January 2009, made by Doktor Irawan Soerodjo,
S.H., M.Si., Notary in Jakarta, which has been approved by the Minister of Law and
Human Rights of the Republic of Indonesia in decision letter No. AHU-
12512.AH.01.02. Year 2009, dated 14 April 2009;
c. Regulation of Financial Services Authority (“POJK”) No.32/POJK.04/2014 on the
Planning and Organisation of General Meeting of Shareholders of Public Limited
Companies and POJK No.33/POJK.04/2014 on the Board of Directors and the Board
of Commissioners of Issuers or Public Companies, as stated in the Deed of Statement
of Meeting Resolution No. 171, dated 23 April 2015, made by Dr. Irawan Soerodjo,
S.H., M.Si., Notary in Jakarta, the notification of the amendment of such Articles of
Association has been received and recorded in the Legal Entities Administrative
System, Minister of Law and Human Rights of the Republic of Indonesia as stated in
letter No. AHU-AH.01.03-0926937, dated 23 April 2015.
Bank’s Articles of Association has been amended and restated as stated in the Deed of
Statement of Meeting Resolution No. 145, dated 24 August 2020, made by Christina Dwi
Utami S.H., M.Hum., M.Kn., a Notary of the Municipality of West Jakarta, the notification
of the amendment of such Articles of Association has been received and recorded in the
Legal Entities Administrative System, Minister of Law and Human Rights of the Republic
of Indonesia as stated in its letter No. AHU-AH.01.03-0383825 dated 8 September 2020,
furthermore amended by the Deed of Statement of Meeting Resolution No. 218, dated 27
September 2021, made by Christina Dwi Utami S.H., M.Hum., M.Kn., a Notary of the
Municipality of West Jakarta, the notification of the amendment of the Bank’s Articles of
Association has been received and recorded in the Legal Entities Administrative System,
Minister of Law and Human Rights of the Republic of Indonesia as stated in its decision
letter No. AHU-AH.01.03-0453543 dated 27 September 2021.
546 PT Bank Central Asia Tbk 2024 Annual Report
Page 549
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/2
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
1. GENERAL (continued)
a. Establishment and general information of the Bank (continued)
According to with Article 3 of the Bank's Articles of Association, the purpose and objective
of the Bank is to operate as a commercial bank. The Bank is engaged in banking activities
and other financial services in accordance with the prevailing regulations in Indonesia.
The Bank obtained a license to conduct business as a commercial bank under the Minister
of Finance Decision Letter No. 42855/U.M.II dated 14 March 1957. The Bank obtained its
license to engage in foreign exchange activities based on the Directors of Bank Indonesia
Decision Letter No. 9/110/Kep/Dir/UD dated 28 March 1977.
The Bank is domiciled in Central Jakarta with its head office located at Jalan M.H. Thamrin
No. 1. As of 31 December 2024 and 2023, the number of branches and representative
offices owned by the Bank was as follows:
2024 2023
Domestic branches*) 1,264 1,258
Overseas representative offices 2 2
1,266 1,260
*) including Cash Sub-Branches
The domestic branches are located in major business centres all over Indonesia.
The overseas representative offices are located in Hong Kong and Singapore.
b. Recapitalisation
Based on the Indonesian Bank Restructuring Agency (“IBRA”) Decision Letter
No. 19/BPPN/1998 dated 28 May 1998, IBRA took over the operations and management
of the Bank. Accordingly, the Bank’s status was changed into a Bank Taken Over (“BTO”).
The Bank was determined as a participant of the bank recapitalisation program under
the Minister of Finance and the Governor of Bank Indonesia joint decision
No. 117/KMK.017/1999 and No. 31/15/KEP/GBI dated 26 March 1999 regarding the
implementation of the bank recapitalisation program for Bank Taken Over.
In conjunction with the recapitalisation program, on 28 May 1999 the Bank received a
payment of Rp 60,877,000 from the Government of the Republic of Indonesia. This
amount consisted of (i) the principal amount of loans granted to affiliated companies that
were transferred to IBRA (consisting of Rp 47,751,000 transferred effectively on
21 September 1998 and Rp 4,975,000 transferred effectively on 26 April 1999), and (ii)
accrued interest on the loans granted to affiliated companies calculated from their
respective effective transfer dates up to 30 April 1999, amounted to Rp 8,771,000,
reduced by (iii) the excess of outstanding Liquidity Assistance (including interest)
amounted to Rp 29,100,000 over the recapitalisation payment from the government
through IBRA of Rp 28,480,000. On the same date, the Bank used such proceeds to
purchase newly issued government bonds of Rp 60,877,000 (consisted of fixed-rate
government bonds amounted to Rp 2,752,000 and variable-rate government bonds
amounted to Rp 58,125,000 through Bank Indonesia).
2024 Annual Report PT Bank Central Asia Tbk 547
Page 550
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/3
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
1. GENERAL (continued)
b. Recapitalisation (continued)
Pursuant to the Chairman of IBRA Decision Letter No. SK-501/BPPN/0400 dated 25 April
2000, IBRA returned the Bank to Bank Indonesia effective on that date. To fulfil the
requirement of Bank Indonesia Regulation (“PBI”) No. 2/11/PBI/2000 dated 31 March
2000, Bank Indonesia announced in its press release Peng. No. 2/4/Bgub dated 28 April
2000, that the recovery program including the restructuring of the Bank had been
completed and the Bank had been returned to be under the supervision of Bank Indonesia.
c. Bank’s shares and subordinated bonds
Bank’s Shares
Based on the Letter of the Chairman of the Capital Market Supervisory Agency No. S-
1037/PM/2000 dated 11 May 2000, the Bank through an Initial Public Offering, offered its
662,400,000 shares with total par value of Rp 331,200 (offering price of Rp 1,400 (full
amount) per share), which represents 22% (twenty two percent) of the issued and paid-
up share capital, as part of the divestment of shares owned by the Republic of Indonesia
as represented by IBRA. This public offering was registered at the Jakarta Stock
Exchange and the Surabaya Stock Exchange on 31 May 2000 (both exchanges have
been merged and now named the Indonesia Stock Exchange).
Extraordinary General Meeting of Shareholders (“EGMS”) dated 12 April 2001 (deed of
minutes of EGMS No. 25 dated 12 April 2001 made by Hendra Karyadi, S.H., Notary in
Jakarta) approved the stock split of the Bank's shares, from Rp 500 (full amount) per share
split into 2 (two) shares with a nominal value of Rp 250 (full amount) per share, and agreed
to increase/addition of issued and paid up capital of Rp 73,599,650,000 through the Share
Based Management Compensation Program ("MSOP”). Amendments to the Bank's
articles of association related to the stock split as stated in the Deed of Statement of
Meeting Resolutions No. 30 dated 12 April 2001, made by Hendra Karyadi, S.H., Notary
in Jakarta, whereby the report on the Amendment to the Articles of Association has been
received and recorded by the Department of Justice and Human Rights, as stated in its
letter No. C-4805 HT.01.04-TH.2001, dated 18 April 2001.
Based on the Letter of the Chairman of the Capital Market Supervisory Agency No. S-
1611/PM/2001 dated 29 June 2001, the Bank re-offer additional 588,800,000 shares with
total par value of Rp 147,200 (at an offering price of Rp 900 (full amount) per share), which
represents 10% (ten percent) of the issued and paid-up share capital, as part of the
divestment of shares owned by the Republic of Indonesia as represented by IBRA. This
public offering was registered at the Jakarta Stock Exchange and the Surabaya Stock
Exchange on 10 July 2001.
Annual General Meeting of Shareholders ("GMS") dated 6 May 2004 (Deed of minutes of
Annual GMS No. 16 dated 6 May 2004 made by Notary Hendra Karyadi, S.H., Notary in
Jakarta) has approved the split of the nominal value of the Bank's shares of Rp 250 (full
amount) per share split into 2 (two) Bank shares with a nominal value of Rp 125 (full
amount) per share. Amendments to the Bank's Articles of Association related to the stock
split as stated in the Notarial Deed of Hendra Karyadi, S.H., Notary in Jakarta, No. 40
dated 18 May 2004, the report of which has been received and recorded in the Sistem
Administrasi Badan Hukum (“Sisminbakum”) Database, Directorate General of General
Legal Administration, Ministry of Justice and Human Rights of the Republic of Indonesia
No. C-13176HT.01.04.TH.2004 dated 26 May 2004.
548 PT Bank Central Asia Tbk 2024 Annual Report
Page 551
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/4
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
1. GENERAL (continued)
c. Bank’s shares and subordinated bonds (continued)
Bank’s Shares (continued)
EGMS dated 26 May 2005 (Deed of minutes of EGMS No. 42 dated 26 May 2005 made
by Notary Hendra Karyadi, S.H., Notary in Jakarta) has approved the buy back shares by
the Bank, provided that the buy back shares are approved by Bank Indonesia, the number
of shares to be bought back does not exceed 5% (five percent) of the total number of
shares the Bank has issued until 31 December 2004, in total 615,160,675 shares and the
total fund for share buyback does not exceed Rp 2,153,060. With the Letter No.
7/7/DPwB2/PwB24/Rahasia dated 16 November 2005, Bank Indonesia has no objection
on the Bank’s plan to buy back its shares.
EGMS dated 15 May 2007 (Deed of minutes of EGMS No. 6 dated 15 May 2007 drawn
up by Notary Hendra Karyadi, S.H., Notary in Jakarta) has approved the buy back of the
Bank’s shares phase II, provided that the buy back shares has been approved by Bank
Indonesia and carried out from time to time for 18 (eighteen) months from the date of the
meeting, the number of shares to be repurchased does not exceed 1% (one percent) of
the total shares issued by the Bank until 27 April 2007 or a total of 123,275,050 shares,
and the amount of funds to buy back shares does not exceed Rp 678,013. With the Letter
No. 9/160/DPB 3/TPB 3-2 dated 11 October 2007, the Bank has obtained approval from
Bank Indonesia regarding to the phase II of share buy back.
EGMS on 28 November 2007 (Deed of minutes of EGMS No. 33 dated 28 November
2007 made by Notary Hendra Karyadi, S.H., Notary in Jakarta), has approved the split of
the Bank's shares of Rp 125 (full amount) per share split into 2 (two) Bank shares with a
nominal value of Rp 62.50 (full amount) per share. Amendments to the Bank's Articles of
Association regarding the stock split as stated in the Deed of Statement of Meeting
Resolutions No. 6 dated 11 December 2007 drawn up before Notary Hendra Karyadi,
S.H., Notary in Jakarta whose receipt of notification has been received and recorded by
the Ministry of Justice and Human Rights of the Republic of Indonesia, as stated in its
letter No. AHU-AH.01.10-0247 dated 3 January 2008.
Based on Letter No. 038/IQ-ECM/LTR/HFJ/XI/2008.TRIM dated 26 November 2008,
the buy back of shares stage II for the period of 11 February 2008 to 13 November 2008
had been performed with the number of shares bought back in total of 397,562 lot or
198,781,000 shares at the average acquisition cost of Rp 3,106.88 (full amount) per share.
Therefore, the total shares bought back as of 13 November 2008 were 289,767,000
shares with a total amount of Rp 808,585.
On 7 August 2012, the Bank sold 90,986,000 shares of its treasury stocks at Rp 7,700
(full amount) per share, with total net sales amounted to Rp 691,492. The difference
between the acquisition costs and the selling price of treasury stocks amounted to
Rp 500,496 was recorded as “additional paid-in capital from treasury stock transactions”,
which is part of additional paid-in capital (Note 26). As of 31 December 2012, total treasury
stocks of the Bank were 198,781,000 shares with a total amount of Rp 617,589.
2024 Annual Report PT Bank Central Asia Tbk 549
Page 552
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/5
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
1. GENERAL (continued)
c. Bank’s shares and subordinated bonds (continued)
Bank’s Shares (continued)
On 7 February 2013, the Bank sold 198,781,000 shares of its treasury stocks at Rp 9,900
(full amount) per share, with total net sales amounted to Rp 1,932,528. The difference
between the acquisition costs and the selling price of treasury stocks amounted to
Rp 1,314,939 was recorded as “additional paid-in capital from treasury stock
transactions”, which is part of additional paid-in capital (Note 26). As of 31 December
2013, the Bank did not have any treasury stocks.
EGMS on 23 September 2021 (minutes of EGMS No. 178 dated 23 September 2021
made by Notary Christina Dwi Utami S.H., M.Hum., M.Kn., a Notary of the Municipality of
West Jakarta), approved to conduct a stock split of the Bank’s shares from Rp 62.50 (full
amount) split into 5 Bank’s shares with nominal value Rp 12.50 (full amount) per share.
The Amendment of the Bank’s Articles of Association regarding such stock split stated in
the Deed of Statement of Meeting Resolution No. 218 dated 27 September 2021 made
by Notary Christina Dwi Utami S.H., M.Hum., M.Kn., a Notary of the Municipality of West
Jakarta, whose notification has been received and recorded by the Minister of Law and
Human Rights of the Republic of Indonesia, as stated in the Letter No. AHU-AH.01.03-
0453543 dated 27 September 2021. Starting 13 October 2021, the Bank’s shares
recorded in Indonesia Stock Exchange after stock split is 122,042,299,500 shares with
nominal value Rp 12.50 (full amount) per share.
The Bank’s immediate parent company is PT Dwimuria Investama Andalan, which was
incorporated in Indonesia, the owner of 54.94% of Bank’s shares as of 31 December 2024
and 2023. The ultimate shareholders of the Bank are Mr. Robert Budi Hartono and
Mr. Bambang Hartono.
Subordinated Bonds
Bank Central Asia Continuous Subordinated Bonds I Phase I Year 2018 were offered at
par value. Interest will be paid on a quarterly basis based on interest payment due date.
The first payment is on 5 October 2018, while the last payment of interest will be paid on
the maturity date of the bond’s principal.
The Bank entered into a Trusteeship Agreement of Bank Central Asia Continuous
Subordinated Bonds I Phase I Year 2018 with PT Bank Rakyat Indonesia (Persero) Tbk
(act as the Bond’s Trustee) as stated in Deed of Trusteeship Agreement of Bank Central
Asia Continuous Subordinated Bonds I Phase I Year 2018 No. 27 dated 22 March 2018,
made by Aulia Taufani, S.H., Notary in Jakarta. This agreement underwent several
amendments, as stated in Deed of Amendment I No. 5 dated 5 June 2018 and
Amendment II No. 2 dated 3 July 2018.
As of 31 December 2024 and 2023, the rating of Bank Central Asia Continuous
Subordinated Bonds I Phase I Year 2018 based on Pefindo was idAA. On 26 June 2018,
the bonds were listed on the Indonesia Stock Exchange (Note 24).
550 PT Bank Central Asia Tbk 2024 Annual Report
Page 553
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/6
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
1. GENERAL (continued)
d. The Subsidiaries
The Subsidiaries, directly and non-directly owned by the Bank as of 31 December 2024
and 2023, were as follows:
Year of
Percentage of
starting the
ownership Total assets
Name of the commercial
Company operation Type of business Domicile 2024 2023 2024 2023
PT BCA Finance 1981 Investment financing, Jakarta 100% 100% 10,994,614 8,939,789
working capital
financing,
multipurpose
financing, operating
lease, other financing
activities based on
approval from
authorised agency
BCA Finance Limited 1975 Money lending and Hong Kong 100% 100% 413,805 938,992
remittance
PT Bank BCA Syariah 1991 Sharia banking Jakarta 100% 100% 16,641,459 14,471,734
PT BCA Sekuritas 1990 Securities brokerage Jakarta 90% 90% 1,431,658 1,907,290
dealer and
underwriter for
issuance of
securities
PT Asuransi Umum 1988 General or loss Jakarta 100% 100% 3,355,033 3,005,651
BCA insurance
PT BCA Multi Finance 2010 Investment financing, Jakarta - 100% - 1,826,864
working capital
financing,
multipurpose
financing, operating
lease, other financing
activities based on
approval from
authorised agency
PT Asuransi Jiwa 2014 Life insurance Jakarta 90% 90% 3,339,665 2,878,724
BCA
PT Central Capital 2017 Venture capital Jakarta 100% 100% 496,706 435,178
Ventura
PT Bank Digital BCA 1965 Banking Jakarta 100% 100% 16,054,445 13,506,728
PT BCA Finance
PT BCA Finance, a company domiciled in Indonesia and located at Wisma BCA Pondok
Indah, 2nd Floor, Jalan Metro Pondok Indah No. 10, South Jakarta, is engaged in
investment financing, working capital financing, multipurpose financing, operating lease,
other financing activities based on approval from authorised agency.
PT BCA Finance was established in 1981 under the name of PT Central Sari Metropolitan
Leasing Corporation (“CSML”). At its inception, the shareholders of CSML were PT Bank
Central Asia and Japan Leasing Corporation.
2024 Annual Report PT Bank Central Asia Tbk 551
Page 554
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/7
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
1. GENERAL (continued)
d. The Subsidiaries (continued)
PT BCA Finance (continued)
In 2001, PT Central Sari Metropolitan Leasing Corporation changed its name to
PT Central Sari Finance (“CSF”), followed by the change in the composition of its
shareholders, where PT Bank Central Asia Tbk became the majority shareholder, and the
change in its business focus to motor vehicles financing activities, particularly in vehicles
with four or more wheels. Further, based on the Decision Letter of Minister of Law and
Human Rights of the Republic of Indonesia No. C-08091 HT.01.04.TH.2005 dated
28 March 2005, PT Central Sari Finance’s name was changed to PT BCA Finance.
On 1 September 2024, PT BCA Finance entered into a merger with PT BCA Multi Finance,
a company domiciled in Jakarta. The decision on the merger is stated in Deed No. 135
made by Notary Christina Dwi Utami S.H., M.Hum., M.Kn., a Notary of the Municipality of
West Jakarta, dated 15 August 2024.
1. Merger plan of PT BCA Finance and PT BCA Multi Finance, in which PT BCA Finance
will act as the beneficiary company.
2. Compile the merger plan.
3. Approving on the capital composition of the merged company, the share capital is at
300,000,000 shares with par value of Rp 3,000,000,000,000 (full amount). The total
issued and paid-up capital are 104,296,119 shares, PT Bank Central Asia will hold
103,872,044 shares and BCA Finance Limited will hold 424,075 shares.
The deed of amendment was approved by the Minister of Law and Human Rights of the
Republic of Indonesia in its Decision Letter No. AHU-AH.01.09-0246700, dated 1
September 2024.
BCA Finance Limited
BCA Finance Limited, a company domiciled in Hong Kong and located at The Center, 47th
Floor, Unit 4707, 99 Queen’s Road Central, Hong Kong, is engaged in money lending and
remittance and has been operated commercially since 1975.
PT Bank BCA Syariah
PT Bank BCA Syariah, a company domiciled in Indonesia and located at Jalan Raya
Jatinegara Timur No. 72, East Jakarta, is engaged in sharia banking activities and has
been operated commercially since 1991.
Based on the Deed of Resolutions in lieu of General Meeting of Shareholders of PT Bank
UIB No. 49, of Notary Ny. Pudji Redjeki Irawati, S.H., dated 16 December 2009, PT Bank
UIB changed its business activities to become sharia bank and changed its name to PT
Bank BCA Syariah. The deed of amendment was approved by the Minister of Justice of
the Republic of Indonesia in its Decision Letter No. AHU-01929.AH.01.02 dated
14 January 2010.
The change in business activities of this subsidiary from conventional bank into sharia
bank was approved by the Governor of Bank Indonesia through its Decision Letter
No. 12/13/KEP.GBI/DpG/2010 dated 2 March 2010. Through this approval, on 5 April
2010, PT Bank BCA Syariah officially operated as a sharia bank.
552 PT Bank Central Asia Tbk 2024 Annual Report
Page 555
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/8
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
1. GENERAL (continued)
d. The Subsidiaries (continued)
PT Bank BCA Syariah (continued)
On 10 December 2020, PT Bank BCA Syariah entered into a merger with PT Bank Interim
Indonesia, a company domiciled in Jakarta. The decision on the merger is stated in Deed
No. 65 made by Notary Christina Dwi Utami S.H., M.Hum., M.Kn., a Notary of the
Municipality of West Jakarta, dated 16 November 2020.
1. Merger plan of PT Bank BCA Syariah and PT Bank Interim Indonesia, in which
PT Bank BCA Syariah will act as the beneficiary bank.
2. Compile the merger plan.
3. Approve the stock split of the Bank in accordance with the merger plan, where 1 share
will be split into 1,000 shares so that the nominal value of the Bank's shares, which
was originally Rp 1,000,000 (full amount) for each share, becomes Rp 1,000 (full
amount) for each share.
4. Approved the increase in issued and paid-up capital in relation to the merger by
issuing 258,883,207 new shares so that the total number of outstanding shares was
2,255,183,207 shares. The new shares will be allocated to shareholders of PT Bank
Interim Indonesia consist of PT Bank Central Asia Tbk will get 258,883,137 shares
and PT BCA Finance will get 70 shares.
The deed of amendment was approved by the Minister of Law and Human Rights of
the Republic of Indonesia in its Decision Letter No. AHU-AH.01.10-0012509, dated
10 December 2020.
PT BCA Sekuritas
PT BCA Sekuritas, a company domiciled in Indonesia and located at Menara BCA, Grand
Indonesia, 41st Floor, Suite 4101, Jalan M.H. Thamrin No. 1, Jakarta, is engaged as
securities brokerage dealer and underwriter for issuance of securities since 1990.
On 2 October 2012, based on the Deed of Minutes of Extraordinary General Meeting of
Shareholders of PT Dinamika Usaha Jaya No. 5, made by Notary Dr. Irawan Soerodjo,
S.H., M.Si., PT Dinamika Usaha Jaya changed its name to PT BCA Sekuritas. This
Amendment was approved by the Minister of Law and Human Rights of the Republic of
Indonesia in its Decision Letter No. AHU-54329.AH.01.02 dated 22 October 2012.
PT Asuransi Umum BCA
PT Asuransi Umum BCA, a company domiciled in Indonesia and located at Sahid
Sudirman Center Building, 10th Floor, Unit E, F, G, H Jalan Jenderal Sudirman Kav. 86,
Jakarta, is engaged in insurance activities, particularly in general or loss insurance
activities.
PT Asuransi Umum BCA was established in 1988 under the name of PT Asuransi
Ganesha Danamas. In 2006, PT Asuransi Ganesha Danamas changed its name to
PT Transpacific General Insurance and later in 2011, this subsidiary’s name was changed
to PT Central Sejahtera Insurance.
2024 Annual Report PT Bank Central Asia Tbk 553
Page 556
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/9
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
1. GENERAL (continued)
d. The Subsidiaries (continued)
PT Asuransi Umum BCA (continued)
On 5 December 2013, based on the Deed of Minutes of Extraordinary General Meeting of
Shareholders of PT Central Sejahtera Insurance No. 7, made by Notary Veronica Sandra
Irawaty Purnadi, S.H., PT Central Sejahtera Insurance changed its name to PT Asuransi
Umum BCA. This change was approved by the Minister of Law and Human Rights of the
Republic of Indonesia in its Decision Letter No. AHU-64973.AH.01.02 dated 11 December
2013.
PT BCA Multi Finance
PT BCA Multi Finance, a company domiciled in Indonesia and located at WTC Mangga
Dua, 6th Floor, Block CL No. 001, Jalan Mangga Dua Raya No. 8, Kelurahan Ancol,
Kecamatan Pademangan, Jakarta, is engaged in investment financing, working capital
financing, multipurpose financing, operating lease, other financing activities based on
approval from authorised agency.
PT Central Santosa Finance was incorporated in the Republic of Indonesia with Deed of
Notary Fransiscus Xaverius Budi Santosa Isbandi, S.H., dated 29 April 2010
No. 95. The deed was approved by the Minister of Law and Human Rights of
the Republic of Indonesia in its Decision Letter No. AHU-23631.AH.01.01 dated
10 May 2010.
On 27 May 2019, based on the Deed of Minutes of Extraordinary General Meeting of
Shareholders of PT Central Santosa Finance No. 54 made by Notary Veronica Sandra
Irawaty Purnadi, S.H., PT Central Santosa Finance changed its name to PT BCA Multi
Finance. This change was approved by Minister of Law and Human Rights of the Republic
of Indonesia in its Decision Letter No. AHU-0029530.AH.01.02 dated 29 May 2019.
On 1 September 2024, the process of merging PT BCA Finance with PT BCA Multi
Finance has been performed and stated in Deed No. 135 made by Notary Christina Dwi
Utami S.H., M.Hum., M.Kn., a Notary of the Municipality of West Jakarta, dated 15 August
2024. PT BCA Finance will act as the beneficiary company.
PT Asuransi Jiwa BCA
PT Asuransi Jiwa BCA, a company domiciled in Indonesia and located at Chase Plaza
Building, 22nd floor, Jalan Jenderal Sudirman Kav 21, Jakarta 12920, is engaged in life
insurance activities, including life insurance with sharia principle.
PT Asuransi Jiwa BCA was incorporated in the Republic of Indonesia with Deed of Notary
Dr. Irawan Soerodjo, S.H., M.Si., dated 16 October 2013 No. 90. This deed was approved
by the Minister of Law and Human Rights of the Republic of Indonesia in its Decision
Letter No. AHU-56809.AH.01.01 dated 7 November 2013.
The Subsidiary obtained business permit in life insurance activities from the Chairman of
the Board of Commissioner of Financial Services Authority (“OJK”) through Decision
Letter No. KEP-91/D.05/2014 dated 14 July 2014.
554 PT Bank Central Asia Tbk 2024 Annual Report
Page 557
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/10
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
1. GENERAL (continued)
d. The Subsidiaries (continued)
PT Central Capital Ventura
PT Central Capital Ventura, a company domiciled in Indonesia and located at The
Manhattan Square Lt. Mezzanine, Jl. TB Simatupang, RT.3/RW.3, Cilandak Timur, Pasar
Minggu, South Jakarta, is engaged in venture capital activities.
PT Central Capital Ventura was incorporated in the Republic of Indonesia with Deed of
Notary Veronica Sandra Irawaty Purnadi, S.H., dated 25 January 2017 No. 15. This deed
approved by the Minister of Law and Human Rights of the Republic of Indonesia in its
Decision Letter No. AHU-0004845.AH.01.01 dated 2 February 2017. The Subsidiary
obtained venture capital business permit based on Copy of Decision of Board
of Commissioner of Financial Services Authority No. KEP-39/D.05/2017 dated
19 June 2017.
PT Bank Digital BCA
PT Bank Digital BCA, a company domiciled in Indonesia and located at The City Tower
11th Floor, Jl. M.H. Thamrin No.81, Central Jakarta, Indonesia, is engaged in banking and
has been operated since 1965.
PT Bank Digital BCA was established under the name of PT Bank Rakjat Parahyangan
based on Notarial Deed No. 35 of Notary R. Soerojo Wongsowidjojo, S.H., dated 25
October 1965. Based on Amendments to the Articles of Association No. 19 dated 21
August 1982, of Notary R. Soerojo Wongsowidjojo, S.H., PT Bank Rakjat Parahyangan
changed its name to PT Bank Pasar Rakyat Parahyangan. The deed of establishment
was approved by Ministry of Justice of the Republic of Indonesia in its Decision Letter No.
C2-1092-HT.01.01.TH.82 dated 3 September 1982.
In 1990, based on the Deed of Resolution of PT Bank Pasar Rakyat Parahyangan No. 68
dated 8 January 1990, made by Notary Misahardi Wilamarta, S.H., PT Bank Pasar Rakyat
Parahyangan changed its name to PT Bank Royal Indonesia, with status and activity of
conventional Bank, and the location changed to Jakarta.
PT Bank Royal Indonesia obtained its conventional banking license from the Minister of
Finance of the Republic of Indonesia through its letter No. 1090/KMK.013/090 dated 12
September 1990 and as foreign currency trader from Bank Indonesia through its letter
No. 30/182/UOPM dated 13 November 1997 which was extended through Decree of
Banking Licensing and Information of Bank Indonesia No. 5/7/KEP.Dir.PIP.2003 dated
24 December 2003, as set out in Letter of Bank Indonesia No. 10/449/DPIP/Prz dated
2 May 2008.
Based on the deed of Minutes of Extraordinary General Meeting of Shareholders of
PT Bank Central Asia No. 62 dated 20 June 2019, made by Notary Christina Dwi Utami,
S.H., M.Hum., M.Kn., the Bank has decided to acquire PT Bank Royal Indonesia.
Acquisition of PT Bank Royal Indonesia was approved by Financial Services Authority
(“OJK”) through its Letter No. SR-60/PB.33/2019 dated 22 October 2019.
2024 Annual Report PT Bank Central Asia Tbk 555
Page 558
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/11
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
1. GENERAL (continued)
d. The Subsidiaries (continued)
PT Bank Digital BCA (continued)
Based on the Deed of Minutes of Extraordinary General Meeting of PT Bank Royal
Indonesia No. 308 dated 31 October 2019, of Notary Christina Dwi Utami, S.H., M.Hum.,
M.Kn., the shareholders approved the transfer of all issued shares in PT Bank Royal
Indonesia owned by PT Royalindo Investa Wijaya, Mr. Leslie Soemedi, Mr. Ibrahim
Soemedi, Mr. Herman Soemedi, Mr. Ko Sugiarto, and Mr. Nevin Soemedi to the Bank and
PT BCA Finance (Subsidiary) amounted to 99.99% and 0.01%, respectively. This deed
was approved by the Minister of Law and Human Rights of the Republic of Indonesia in
its Decision Letter No. AHU-AH.01.03-0356474 dated 7 November 2019.
Based on the Deed of Resolutions of Shareholders of PT Bank Royal Indonesia No. 37
dated 2 April 2020, made by Notary Sakti Lo, S.H., Notary in Jakarta, PT Bank Royal
Indonesia changed its name to PT Bank Digital BCA. The deed of Amendment was
approved by the Minister of Law and Human Rights of the Republic of Indonesia in its
Decision Letter No. AHU-0027414.AH.01.02 dated 2 April 2020.
e. Board of Commissioners and Board of Directors
The compositions of the Bank’s management as of 31 December 2024 and 2023 are as
follows:
2024
Board of Commissioners
President Commissioner : Djohan Emir Setijoso
Commissioner : Tonny Kusnadi
Independent Commissioner : Cyrillus Harinowo
Independent Commissioner : Raden Pardede
Independent Commissioner : Sumantri Slamet
Board of Directors
President Director : Jahja Setiaatmadja
Deputy President Director : Armand Wahyudi Hartono
Deputy President Director : Gregory Hendra Lembong
Director : Tan Ho Hien/Subur Tan
Director : Rudy Susanto
Director (concurrently serving
as Director in charge of the
Compliance Function) : Lianawaty Suwono
Director : Santoso
Director : Vera Eve Lim
Director : Haryanto Tiara Budiman
Director : Frengky Chandra Kusuma
Director : John Kosasih
Director : Antonius Widodo Mulyono
556 PT Bank Central Asia Tbk 2024 Annual Report
Page 559
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/12
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
1. GENERAL (continued)
e. Board of Commissioners and Board of Directors (continued)
The compositions of the Bank’s management as of 31 December 2024 and 2023 are as
follows: (continued)
2023
Board of Commissioners
President Commissioner : Djohan Emir Setijoso
Commissioner : Tonny Kusnadi
Independent Commissioner : Cyrillus Harinowo
Independent Commissioner : Raden Pardede
Independent Commissioner : Sumantri Slamet
Board of Directors
President Director : Jahja Setiaatmadja
Deputy President Director : Armand Wahyudi Hartono
Deputy President Director : Gregory Hendra Lembong
Director : Tan Ho Hien/Subur Tan
Director : Rudy Susanto
Director (concurrently serving
as Director in charge of the
Compliance Function) : Lianawaty Suwono
Director : Santoso
Director : Vera Eve Lim
Director : Haryanto Tiara Budiman
Director : Frengky Chandra Kusuma
Director : John Kosasih
Director : Antonius Widodo Mulyono
The composition of the Board of Commissioners and Board of Directors of the Bank as of
31 December 2024 and 2023 as evident in the Deed of Statement of Resolutions of
Shareholders' Meeting of PT Bank Central Asia Tbk No. 33 dated 10 May 2022 drawn up
before Christina Dwi Utami, S.H., M.Hum., M.Kn., a Notary of the Municipality of West
Jakarta which notice of amendment of corporate data has been received and recorded in
the Corporate Entities Administrative System, Ministry of Law and Human Rights of The
Republic of Indonesia, as evident in the letter No. AHU-AH.01.09-0011476 dated 11 May
2022.
f. Audit Committee
The Bank’s Audit Committee as of 31 December 2024 and 2023 are as follows:
Chairman : Sumantri Slamet
Member : Rallyati A. Wibowo
Member : Fanny Sagitadewi
The establishment of the Bank’s Audit Committee was in line with Financial Services
Authority Regulation (“POJK”) No. 55/POJK.04/2015 dated 23 December 2015 regarding
Establishment and Implementation Guidelines on Audit Committee Work.
2024 Annual Report PT Bank Central Asia Tbk 557
Page 560
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/13
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
1. GENERAL (continued)
g. Internal Audit Division and Corporate Secretary
The Head of the Bank’s Internal Audit Division as of 31 December 2024 and 2023 was
Leo Ariston and Leo Ariston (Pjs).
The Corporate Secretary of the Bank as of 31 December 2024 and 2023 was Raymon
Yonarto.
h. Number of employees
As of 31 December 2024 and 2023, the Bank and Subsidiaries had 27,844 and 27,273
permanent employees.
Key management personnel of the Bank consists of members of Board of Commissioners
and Board of Directors.
i. Completion of the consolidated financial statements
The Bank’s Management is responsible for the preparation of these consolidated financial
statements, which were authorised for issuance on 22 January 2025.
2. MATERIAL ACCOUNTING POLICY INFORMATION
The material accounting policies applied by the Bank and its Subsidiaries (the “Group”) in
the preparation of its consolidated financial statements are consistent with those of
the consolidated financial statements for the year ended 31 December 2024 as follows:
a. Statement of compliance
The consolidated financial statements of the Group have been prepared and presented in
accordance with Indonesian Financial Accounting Standards which comprise of
Statements of Financial Accounting Standards (“SFAS”) and Interpretation of Financial
Accounting Standards (“IFAS”) used by the Financial Accounting Standard Board of
Indonesia Institute of Accountant and Bapepam-LK Regulation No. KEP-347/BL/2012
dated 25 June 2012, Regulation No. VIII.G.7 regarding “ Presentation and Disclosure of
Financial Statements for Issuers or Public Companies”.
Financial statements of PT Bank BCA Syariah (Subsidiary) are presented in accordance
with Sharia Financial Accounting Standards and other Financial Accounting Standards
issued by Indonesian Institute of Accountant.
b. Basis for preparation of the consolidated financial statements
These consolidated financial statements are presented in Rupiah, which is the Bank’s
functional currency. Except as otherwise stated, the financial information presented has
been rounded to the nearest million of Rupiah.
The consolidated financial statements prepared under the historical cost concept, except
for fixed assets - land, financial assets at fair value through other comprehensive income,
and financial assets and liabilities (including derivative instruments) at fair value through
profit or loss, which are measured at fair value.
The consolidated financial statements have been prepared based on the accrual basis,
except for the consolidated statements of cash flows.
558 PT Bank Central Asia Tbk 2024 Annual Report
Page 561
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/14
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
b. Basis for preparation of the consolidated financial statements (continued)
The consolidated statements of cash flows present the changes in cash and cash
equivalents from operating, investing and financing activities, and are prepared using the
direct method. For the purpose of the presentation of the consolidated statements of cash
flows, cash and cash equivalents consist of cash, current accounts with Bank Indonesia,
current accounts with other banks, placements with Bank Indonesia and other banks
mature within 3 (three) months or less from the date of acquisition, as long as they are not
being pledged as collateral for borrowings nor restricted.
c. Use of judgments, estimations and assumptions
The preparation of consolidated financial statements in conformity with Indonesian
Financial Accounting Standards (“SFAS”) requires management to make judgments,
estimates and assumptions that affect the application of accounting policies and the
reported amounts of assets, liabilities, income and expenses. Although these estimates
are based on management’s best knowledge of current events and activities, actual results
may differ from prior estimates.
In order to provide better understanding of the financial performance of the Group, due to
the significance of their nature and amount, several items of income or expenses have
been presented separately.
Estimations and underlying assumptions are reviewed on an ongoing basis. Revisions to
accounting estimates are recognised in the period in which the estimate are revised and
in any future periods affected.
Information about significant areas of estimation uncertainty and critical judgments in
applying accounting policies that have significant effect on the amount recognised in the
consolidated financial statements are described in Note 3.
d. Changes in accounting policies
Financial Accounting Standard Board of Indonesian Institute of Accountant (“DSAK-IAI”)
has issued the following amendments and interpretations which were effective on or after
1 January 2024 as follows:
- Indonesia Financial Reporting Standard Framework ("KSPKI") and amendments to SFAS
and IFAS number, are effective on 1 January 2024. KSPKI regulate the SFAS pillars,
criteria and shifting between pillars that apply in Indonesia, while amendments to SFAS
and IFAS number determine the number for SFAS and IFAS which refering to IFRS
Accounting Standards, local accounting standards, and sharia accounting standards;
- Amendments of SFAS 201 “Presentation of Financial Statements” regarding classification
of liabilities as current or non-current;
- Amendments of SFAS 116 “Leases” regarding lease liabilities in sale-and-lease back
transactions;
- Amendments of SFAS 207 and SFAS 107 “Supplier Finance Arrangements”; and
- Amendments of SFAS 409 “Accounting of Zakat, Infak, and Sedekah” and SFAS 401
“Sharia Financial Statement”.
2024 Annual Report PT Bank Central Asia Tbk 559
Page 562
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/15
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
d. Changes in accounting policies (continued)
The adoption of these amended and interpretations of the above standards did not result
in substantial changes to the Group’s accounting policies and had no material impact to
the consolidated financial statements for current period or prior financial years.
e. Basis of consolidation
The consolidated financial statements for the year ended 2024 consist of financial
statements of the Bank and Subsidiaries (PT BCA Finance, BCA Finance Limited, PT
Bank BCA Syariah, PT BCA Sekuritas, PT Asuransi Umum BCA, PT Asuransi Jiwa BCA,
PT Central Capital Ventura and PT Bank Digital BCA together known as the “Group”).
The consolidated financial statements for the year ended 2023 consist of financial
statements of the Bank and Subsidiaries (PT BCA Finance, BCA Finance Limited, PT
Bank BCA Syariah, PT BCA Sekuritas, PT Asuransi Umum BCA, PT BCA Multi Finance,
PT Asuransi Jiwa BCA, PT Central Capital Ventura and PT Bank Digital BCA together
known as the “Group”).
Subsidiaries are all entities over which the Group has control. The Group controls an entity
when the Group is exposed to, or has rights to, variable returns from its involvement with
the entity and has the ability to affect those returns through its power over the entity.
Subsidiaries are fully consolidated from the date on which control is transferred to the
Group. They are de-consolidated from the date on which that control ceases.
The Group applies the acquisition method to account for business combinations.
The consideration transferred for the acquisition of a Subsidiary is the fair value of the
assets transferred, the liabilities incurred to the former owners of the acquiree and the
equity interests issued by the Group. The consideration transferred includes the fair value
of any asset or liability resulting from a contingent consideration arrangement. Identifiable
assets acquired and liabilities and contingent liabilities assumed in a business
combination was measured initially at their fair values at the acquisition date.
All material intercompany transactions in the Group, balances, gains and losses are
eliminated.
The Group recognises any non-controlling interest in the acquiree on a acquisition-by-
acquisition basis, either at fair value or at the non-controlling interest’s proportionate share
of the acquiree’s net assets. Non-controlling interest is reported as equity in the
consolidated statements of financial position, separated from the owner of the parent’s
equity. Non-controlling interest is recognised at the date of business combination.
The excess of the consideration transferred, the amount of any non-controlling interest in
the acquiree and the fair value at the acquisition date of any previous equity interest in the
acquiree over the fair value of the net identifiable assets acquired is recorded as goodwill.
If those amounts are less than the fair value of the net identifiable assets of the business
acquired, in the case of a bargain purchase, the difference is recognised directly in the
consolidated statements of profit or loss and other comprehensive income.
560 PT Bank Central Asia Tbk 2024 Annual Report
Page 563
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/16
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
e. Basis of consolidation (continued)
Any contingent consideration to be transferred by the Group is recognised at fair value at
the acquisition date. Subsequent changes to the fair value of the contingent consideration
that is deemed to be an asset or liability is recognised in accordance with SFAS 109
“Financial lnstrument: Recognition and Measurement” in the consolidated statements of
profit or loss and other comprehensive income. Contingent consideration that is classified
as equity that is not remeasured, and its subsequent settlement is accounted for within
equity.
Acquisition-related costs are expensed as incurred.
Non-controlling interests are presented in equity in the consolidated statements of
financial position, separated from equity, which can be attributed to the owner, and
expressed as the proportion of non-controlling shareholders for current year earnings and
equity that can be attributed to non-controlling interests based on ownership percentage
of non-controlling shareholders in the Subsidiary.
If the Group losses control of a Subsidiary, the Group:
● Derecognises the assets and liabilities of the former Subsidiary from the consolidated
statements of financial position;
● Recognises any investment retained in the former Subsidiary at fair value on the date
when control is lost and subsequently accounts for it and for any amounts owed by or
to the former Subsidiary in accordance with the relevant financial accounting standard;
and
● Recognises the gain or loss associated with the loss of control attributable to the
former controlling interest.
Changes affected the Bank’s ownership interest and equity of Subsidiary that do not result
in the loss of control are accounted for as equity transactions and presented as other
equity components within equity in the consolidated statements of financial position.
Business combination of entities under common control transactions, such as transfer of
business in relation to reorganisation of entities within the same business group, is not a
change of ownership in terms of economic substance, therefore such transaction cannot
generate any gains or losses for the Group as a whole as well as the individual entity
within the business group.
Business combination of entities under common control transactions, according to
SFAS 338, “Accounting for Restructuring Under Common Control Entities”, is recognised
at its carrying amount based on pooling-of-interest method. Entity that receives the
business as well as the entity that disposes the business recognises the difference
between the proceeds transferred/received and carrying amount arising from a business
combination under common control transaction as part of equity in the additional paid-in
capital account and will never be recognised as realised profit or loss or reclassified into
retained earnings.
f. Translation of transactions in foreign currencies
Items included in the consolidated financial statements of the Group are measured using
the currency of the primary economic environment in which the entity operates (the
"functional currency").
2024 Annual Report PT Bank Central Asia Tbk 561
Page 564
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/17
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
f. Translation of transactions in foreign currencies (continued)
The Group domiciled in Indonesia maintained its accounting record in Rupiah, which is
the functional and presentation currency of the Group. Transactions denominated in
foreign currencies are translated into Rupiah at the exchange rates prevailing at the date
of the transaction. At the reporting date, year-end balances of monetary assets and
liabilities denominated in foreign currencies are translated into Rupiah at the closing rates
prevailing at the date of consolidated statements of financial position.
For consolidation purposes, foreign currency financial statements of the Bank's overseas
Subsidiary are translated into Rupiah based on the following basis:
(1) Assets and liabilities, commitments and contingencies are translated using the
Reuters spot rates at 15:00 WIB at the statement of financial position date.
(2) Income, expenses, gains, and losses represent the accumulated amount from monthly
profit or loss balance during the year, are translated into Rupiah using the average
Reuters middle rate for the respective month.
(3) Equity accounts are translated using historical rates.
(4) Statements of cash flows is translated using the Reuters spot rate at 15:00 WIB at the
statement of financial position date, except for profit or loss accounts which are
translated using the average middle rates and equity accounts which are translated
using historical rates.
Differences arising from the above translation are presented as "foreign exchange
differences arising from translation of financial statements in foreign currency" under the
equity section of the consolidated statements of financial position.
Exchange gains or losses arising from transactions in foreign currencies and from the
translation of monetary assets and liabilities in foreign currencies are recognised in the
current year consolidated statements of profit or loss.
Summarised below are the major exchange rates as of 31 December 2024 and 2023,
using Reuters middle rate at 15:00 WIB (full amount of Rupiah):
Foreign currencies 2024 2023
United States Dollar (USD) 16,095.0 15,397.0
Australian Dollar (AUD) 10,013.5 10,520.8
Singapore Dollar (SGD) 11,844.6 11,676.3
Hong Kong Dollar (HKD) 2,073.1 1,970.7
Chinese Yuan (CNH) 2,198.5 2,169.5
Great Britain Poundsterling (GBP) 20,218.5 19,626.6
Japanese Yen (JPY) 103.0 108.9
Euro (EUR) 16,758.1 17,038.3
g. Financial assets and liabilities
g.1. Financial assets
In accordance with SFAS 109, the Group classifies its financial assets in the
following categories: (a) financial assets measured at amortised cost, (b) financial
assets at fair value through other comprehensive income, and (c) financial assets at
fair value through profit or loss.
562 PT Bank Central Asia Tbk 2024 Annual Report
Page 565
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/18
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
g. Financial assets and liabilities (continued)
g.1. Financial assets (continued)
The Group uses 2 (two) basis to classify its financial assets which are group
business model in managing financial assets and contractual cash flow
characteristics Solely Payment of Principal and Interest (“SPPI”) from its financial
assets.
Business model assessment
The Group determines its business model based on the level of most reflects how
groups of financial assets are managed to achieve business objective.
The Group business model are not assessed based on each of its instrument, but at
portfolio level in higher aggregate and based on the following factors:
• How the performance of the business model and the financial assets held within
that business model are evaluated and reported to key management personnel;
• The risks that affect the performance of the business model (and the financial
assets held within that business model) and, in particular, the way those risks
are managed;
• How managers of the business are compensated (for example, whether the
compensation is based on the fair value of the assets managed or on the
contractual cash flows collected);
• Frequency, amount, and expected selling time, are also important aspects from
Group assessment.
Business model assessment is based on a reasonably expected scenario without
considering "worst case" or "stress case" scenario. If the subsequent cash flows are
realised in a different manner than originally expected, the Group does not change
the remaining classification of financial assets held in the business model, but
incorporating those information in assessing new financial assets or purchasing
financial assets subsequently.
SPPI Testing
As the first step of the classification process, the Group assesses the financial
contractual requirements to identify whether they meet the SPPI testing.
The principal payment for this testing purposes is defined as the fair value of the
financial assets at initial recognition and may change over the lifetime of the financial
assets (for example, if there are payments of principal or amortisation of
premiums/discounts).
The most significant element of interest in a credit agreement is usually a
consideration of the time value of money and credit risk. In exercising the
assessment of SPPI, the Group applies consideration and pays attention into
relevant factors such as the currency in which financial assets are denominated and
the period when interest rates are determined.
Alternatively, contractual terms that provide more than de minimis exposure to risk
or volatility in contractual cash flows that are not related to the basis of the loan
arrangement, do not generate SPPI's contractual cash flows on the total balance. In
such cases, the financial assets are required to be measured at fair value.
2024 Annual Report PT Bank Central Asia Tbk 563
Page 566
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/19
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
g. Financial assets and liabilities (continued)
g.1. Financial assets (continued)
Financial assets measured at amortised cost
A financial asset is measured at amortised cost only if it meets both of the following
conditions:
• The financial assets are held within a business model whose objective is to hold
the asset to collect contractual cash flows; and
• Its contractual terms give rise on specified dates to cash flows that are solely
payments of principal and interest on the principal amount outstanding.
A financial asset is initially measured at amortised cost at fair value plus transaction
costs and subsequently measured at amortised cost using effective interest rate less
allowance for impairment losses.
Interest income on financial assets measured at amortised cost is included in the
consolidated statements of profit or loss and other comprehensive income recognised
as “interest income”. When impairment occurs, the impairment loss is recognised as a
deduction from the carrying amount of the investment and recognised in the
consolidated financial statements as “allowance for impairment losses on financial
assets”.
Financial assets measured at fair value through other comprehensive income
A financial asset is measured at fair value through other comprehensive income only if
it meets both of the following conditions:
• The financial assets are held within a business model whose objective is to hold
the asset to collect contractual cash flows and to sell financial asset; and
• Its contractual terms give rise on specified dates to cash flows that are solely
payments of principal and interest on the principal amount outstanding.
At initial recognition, a financial asset measured at fair value through other
comprehensive income recognised at fair value plus the transaction costs and are
subsequently remeasured at its fair values when such gains or losses recognised in
other comprehensive income except for recognition of impairment and foreign
exchange gains and losses, until derecognition of financial asset. If financial asset
measured at fair value through other comprehensive income is impaired, the
cumulative gains or losses previously recognised at other comprehensive gains
(losses), would be recognised at profit or loss. Interest income is calculated by
applying the effective interest rate and gains or losses arising from foreign exchange
from monetary assets which classified as at fair value through other comprehensive
income recognised in the consolidated statements of profit or loss and other
comprehensive income.
Financial assets measured at fair value through profit or loss
All financial assets not classified as measured at amortised cost or at fair value through
other comprehensive income as described above are measured at fair value through
profit or loss.
564 PT Bank Central Asia Tbk 2024 Annual Report
Page 567
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/20
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
g. Financial assets and liabilities (continued)
g.1. Financial assets (continued)
Financial assets measured at fair value through profit or loss (continued)
Financial instruments grouped into this category are recognised at their fair value at
initial recognition; transaction costs are recognised directly in the consolidated
statements of profit or loss and other comprehensive income. Gains and losses arising
from changes in fair value and sale of financial instruments are recognised in the
consolidated statements of profit or loss and and other comprehensive income
recorded as respectively “Gains (losses) from changes in fair value of financial
instruments” and “Gains (losses) from the sale of financial instruments”. Interest
income from financial instruments measured at fair value through profit or loss is
recorded as interest income as part of net income from transaction measured at fair
value through profit or loss.
Group measures all equity investments at fair value. Where the Group has elected to
present fair value gains and losses on equity investments in other comprehensive
income, there is no subsequent reclassification of fair value gains and losses to profit
or loss following the derecognition of the investment.
g.2. Financial liabilities
The Group classifies its financial liabilities in the category of (a) financial liabilities at
fair value through profit or loss and (b) financial liabilities measured at amortised
cost.
(a) Financial liabilities measured at fair value through profit or loss
Financial liabilities are classified as financial liabilities at fair value through
profit or loss if they are acquired or incurred principally for the purpose of
selling or repurchasing in the near term or if they are part of a portfolio of
identified financial instruments that are managed together and there is
evidence of a pattern of short-term profit-taking. Derivatives are classified as
financial liabilities instruments at fair value through profit or loss unless
designated and effective as hedging instruments.
Gains and losses arising from changes in the fair value of financial liabilities
classified as financial liabilities at fair value through profit or loss are recorded
in the consolidated statements of profit or loss and other comprehensive
income as “Gains (losses) from changes in fair value of financial instruments”.
Interest expense on financial liabilities classified as financial liabilities at fair
value through profit or loss is recorded as “Interest expense” as part of net
income from transaction measured at fair value through profit or loss.
(b) Financial liabilities measured at amortised cost
Financial liabilities that are not classified as at fair value through profit and loss
fall into this category and are measured as amortised cost.
Financial liabilities at amortised cost are initially recognised at fair value plus
transaction costs (if any).
After initial recognition, the Group measures all financial liabilities at amortised
cost using effective interest rate method.
2024 Annual Report PT Bank Central Asia Tbk 565
Page 568
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/21
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
g. Financial assets and liabilities (continued)
g.3. Recognition
The Group initially recognises loans and deposits on the date of origination.
Regular way purchases and sales of financial assets are recognised on the
settlement date at which the Group commits to purchase or sell those assets.
Transaction costs include only those costs that are directly attributable to the
acquisition of a financial asset or issuance of a financial liability and are incremental
costs that would not have been incurred if the instrument had not been acquired or
issued.
Financial assets measured at fair value through profit or loss are initially recognised
at fair value and transaction costs are expensed in the consolidated statements of
profit or loss and other comprehensive income. Financial assets at fair value through
other comprehensive income are subsequently carried at fair value. Financial assets
measured at amortised cost are initially recognised at fair value, subsequently
recognised at amortised cost using the effective interest rate method.
For financial liabilities measured at amortised cost, transaction costs are deducted
from the amount of debt when liabilities initially recognised. Such transactions costs
are amortised over the terms of the instruments based on the effective interest rate
method and are recorded as part of interest expense.
g.4. Determination of fair value
Fair value is the price that would be received to sell an asset or paid to transfer a
liability in an orderly transaction between market participants at the measurement
date in the principal market or, in its absence, the most advantageous market to
which the Group has access at that date. The fair value of a liability reflects its non-
performance risk.
When available, the Group measures the fair value of a financial instrument using
the quoted price in an active market for that instrument.
A financial instrument is regarded as quoted in an active market if quoted prices
are periodically and regularly available from an exchange, dealer, broker, industry
group, pricing service or regulatory agency, and those prices represent actual and
regularly occurring market transactions on an arm’s length basis. If the above
criteria are not met, the active market is regarded as being unavailable. Indications
that a market is inactive are when there is a wide bid-offer spread or significant
increase in the bid-offer spread or there are few recent transactions.
For financial instruments with no quoted market price, a reasonable estimate of the
fair value is determined by referencing to the current market value of another
instrument which substantially have the same characteristic or calculated based on
the expected cash flows of the underlying net asset base of the marketable
securities.
For all other financial instruments, fair value is determined using valuation
techniques. In these techniques, fair values are estimated from observable data in
respect of similar financial instruments, using models to estimate the present value
of expected future cash flows or other valuation techniques, using inputs existing
at the dates of the consolidated statements of financial position.
566 PT Bank Central Asia Tbk 2024 Annual Report
Page 569
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/22
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
g. Financial assets and liabilities (continued)
g.5. Derecognition
Financial assets are derecognised when the contractual rights to receive the cash
flows from these assets have ceased to exist or the assets have been transferred
and substantially all the risks and rewards of ownership of the assets are also
transferred (that is, if substantially all the risks and rewards have not been
transferred, the Group tests control to ensure that continuing involvement on the
basis of any retained powers of control does not prevent derecognition). Financial
liabilities are derecognised when they have been redeemed or otherwise
extinguished or expired.
g.6. Modification of financial assets
The Group sometimes renegotiates or otherwise modifies the contractual cash
flows of loans. When this happens, the Group assesses whether the new terms are
substantially different to the original terms. The Group does this by considering,
among others, the following factors:
• If the borrower is in financial difficulty whether the modification merely reduces
the contractual cash flows to amounts the borrower is expected to be able to
pay;
• Significant extension of the loan term when the borrower is not in financial
difficulty;
• Significant change in the interest rate; and
• Change in the loan’s currency.
If the terms are substantially different, the Group derecognises the original financial
asset and recognises a new asset at fair value and recalculates a new effective
interest rate for the asset. The date of renegotiation is consequently considered to
be the date of initial recognition for impairment calculation purposes, including for
the purpose of determining whether a significant increase in credit risk has
occurred. However, the Group also assesses whether the new financial asset
recognised is deemed to be credit-impaired at initial recognition, especially in
circumstances where the renegotiation was driven by the debtor being unable to
make the originally agreed payments. Differences in the carrying amount are also
recognised in profit or loss as a gain or loss on derecognition.
If the terms are not substantially different, the renegotiation or modification does
not result in derecognition, and the Group recalculates the gross carrying amount
based on the revised cash flows of the financial asset and recognises a
modification gain or loss in consolidated statements of profit or loss and other
comprehensive income. The new gross carrying amount is recalculated by
discounting the modified cash flows at the original effective interest rate.
g.7. Reclassification of financial assets
The Group can reclassify its all of its financial assets when and only, its business
model for managing those financial assets changes.
2024 Annual Report PT Bank Central Asia Tbk 567
Page 570
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/23
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
g. Financial assets and liabilities (continued)
g.7. Reclassification of financial assets (continued)
The characteristic of business model changes must significantly impact to the Group
operational activities such as collecting, disposing or terminating a business line.
In addition, the Group has to prove the changes to external parties.
The Group will reclassify all financial assets impacted by business model changes.
Changes of the objective of the Group’s business model must be impacted before
reclassification date.
g.8. Classification of financial assets and liabilities
The Group classifies the financial assets and liabilities into classes that reflects
the nature of information and take into account the characteristic of those financial
instruments. The classification can be seen in the table below.
Category of financial assets and Classes (as determined by the Subclasses
liabilities Group)
Financial assets Securities
measured at fair Financial assets measured at fair Placement with other banks
value through profit value through profit or loss
Derivative assets
or loss (“FVPL”)
Cash
Current accounts with Bank Indonesia
Current accounts with other banks
Placements with Bank Indonesia and other banks
Acceptance receivables
Bills receivable
Securities purchased under agreements to resell
Loans receivable
Consumer financing receivables
Finance lease receivables
Assets related to sharia transactions - murabahah receivables
Financial assets
measured at Investment securities
amortised cost Accrued interest income
Financial Receivables related to
assets ATM and credit card
Unaccepted bills receivables
Receivables from
customer transactions
Other assets
Receivables from
insurance transactions
Term deposits of foreign
exchange from export
proceeds
Others
Financial assets
Placements with Bank Indonesia
measured at fair Certificates of deposits
and other banks
value through other
comprehensive
income (“FVOCI”)
Investment securities
568 PT Bank Central Asia Tbk 2024 Annual Report
Page 571
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/24
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
g. Financial assets and liabilities (continued)
g.8. Classification of financial assets and liabilities (continued)
The Group classifies the financial assets and liabilities into classes that reflects
the nature of information and take into account the characteristic of those financial
instruments. The classification can be seen in the table below. (continued)
Category of financial assets and Classes (as determined by the Subclasses
liabilities Group)
Financial liabilities
measured at fair
Financial liabilities measured at
value through profit Derivative liabilities
fair value through profit or loss
or loss (“FVPL”)
Deposits from customers
Sharia deposits
Deposits from other banks
Acceptance payables
Securities sold under agreements to repurchase
Debt securities issued
Borrowings
Commitments and contingencies transactions
Financial Other liabilities:
liabilities - Accrued interest
Financial liabilities expenses
measured at - Liabilities related to ATM
amortised cost and credit card
transactions
Accruals and other - Liabilities from customer
liabilities transactions
- Liabilities from insurance
transactions
- Finance lease liabilities
- Term deposits of foreign
exchange from export
proceeds
Subordinated bonds
Unused credit facilities
Commitment and
Irrevocable letters of credit
contingencies
Bank guarantee issued
g.9. Offsetting financial instruments
Financial assets and liabilities are offset and the net amount reported in the
consolidated statements of financial position when there is a legally enforceable
right of set-off and there is an intention to settle on a net basis, or realise the asset
and settle the liability simultaneously. In certain situations, even though the offset
on the main agreements exist, the lack of management intention to settle on a net
basis results in the financial assets and liabilities being reported gross on the
consolidated statements of financial position.
g.10. Financial guarantee contracts and other commitment receivables
Financial guarantee contracts are contracts that require the issuer to make specified
payments to reimburse the holder for a loss incurred because a specified debtor
defaulted to make payments when due, in accordance with the terms of a debt
instrument. Such financial guarantees are given to banks, financial institutions and
other institutions on behalf of customers to secure loans and other banking facilities,
and unused provision of funds facilities.
2024 Annual Report PT Bank Central Asia Tbk 569
Page 572
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/25
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
g. Financial assets and liabilities (continued)
g.10. Financial guarantee contracts and other commitment receivables (continued)
Financial guarantees are initially recognised in the consolidated financial statements
at fair value on the date the guarantee was given. The fair value of a financial
guarantee at inception is likely to equal the premium received because all
guarantees are agreed on arm’s length terms and the initial fair value is amortised
over the life of the financial guarantees.
Subsequently, they are measured at the higher of amortised amount and expected
credit losses amount based on SFAS 109.
g.11. Allowance for impairment losses of financial assets
The group assesses on a forward-looking basis the expected credit loss (“ECL”)
associated with its financial asset instruments carried at amortised cost and fair
value at other comprehensive income. The impairment methodology applied
depends on whether there has been a significant increase in credit risk to financial
asset measured at amortised cost and at fair value through other comprehensive
income (“FVOCI”). If at the reporting date, credit risk on financial asset has not
increased significantly since initial recognition, the Group shall measure the
allowance for losses for that financial asset at the amount of 12 (twelve) months
expected credit losses. If the credit risk on that financial asset has increased
significantly since initial recognition, the Group shall measure the allowance for
losses at the amount of expected credit losses over its lifetime.
12-month ECL and Lifetime ECL
12-month ECL is the portion of ECL that result from default events that are possible
within the 12 months after reporting date (or the shorter period if expected life of
financial asset is less than 12 months). 12-month ECL is weighted by probability of
default.
Lifetime ECL is the ECL that result from all possible default events over the expected
life of financial asset.
Staging Criteria
Financial asset must be allocated to one of three stages of impairment (stage 1,
stage 2, stage 3) by determining whether there is a significant increase in credit risk
on the financial asset since initial recognition or whether the facility has defaulted on
each reporting date.
Stage 1: include financial assets that do not have a significant increase in credit
risk since initial recognition or have a low credit risk at the reporting date. For these
assets, a 12-month ECL will be calculated.
570 PT Bank Central Asia Tbk 2024 Annual Report
Page 573
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/26
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
g. Financial assets and liabilities (continued)
g.11. Allowance for impairment losses of financial assets (continued)
Staging Criteria (continued)
Stage 2: includes financial assets that experience a significant increase in credit risk
at the reporting date, but do not have objective evidence of impairment. For these
assets, lifetime ECL will be calculated. Lifetime ECL are the ECL that results from
all possible default events over the expected life of financial asset.
Stage 3: includes financial assets that have an objective evidence of impairment at
the reporting date. For these assets consist of default debtors.
The main factor in determining whether the financial assets need 12-month ECL
(stage 1) or lifetime ECL (stage 2) is Significant Increase on Credit Risk (“SICR”)
criteria. Determinations of SICR criteria needs review whether significant increase
in credit risk occurred at each reporting date.
SFAS 109 requires supportable information about past events, current condition and
forecasts of future economic conditions. Estimated movement on expected credit
losses have to be reflected and directly consistent with changes in observed related
data over the period. This ECL calculation needs forward-looking estimation from
Probability of Default (“PD”), Loss Given Default (“LGD”) and Exposure At Default
(“EAD”).
For loan commitments and financial guarantee contracts, the date when the Group
become a party in an irrevocable commitment is the date of initial recognition for
implementation of impairment purposes.
Probability of Default (“PD”)
The probability at a point in time that a counterparty will default, calibrated over up
to 12 months from the reporting date (Stage 1) or over the lifetime of the product
(Stage 2 and 3) and incorporating the impact of forward-looking economic
assumptions that have an effect on credit risk. PD is estimated at a point in time
that means it will fluctuate in line with the economic cycle.
Loss Given Default (“LGD”)
The loss that is expected to arise on default, incorporating the impact of relevant
forward-looking economic assumptions (if any), which represents the difference
between the contractual cash flows due and those that the Group expects to
receive. The Group estimates LGD based on the historical recovery rates and taking
into account forward-looking economic assumptions if relevant.
2024 Annual Report PT Bank Central Asia Tbk 571
Page 574
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/27
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
g. Financial assets and liabilities (continued)
g.11. Allowance for impairment losses of financial assets (continued)
Exposure at Default (“EAD”)
The expected loss of balance sheet exposure at the time of default, taking into
account that expected change in exposure over the lifetime of the exposure. This
incorporates the impact of repayments of principal and interest, amortisation and
prepayments, together with the impact of forward-looking economic assumptions
where relevant.
h. Allowance for impairment losses on non-financial assets
Assets that have an indefinite useful life - for example, goodwill or intangible assets not
ready for use - are not subject to amortisation but tested annually for impairment, or more
frequently if events or changes in circumstances indicate that they might be impaired.
Assets that are subject to amortisation are reviewed for impairment whenever events
or changes in circumstances indicate that the carrying amount may not be recoverable.
An impairment loss is recognised for the amount by which the asset’s carrying amount
exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair
value less costs to sell and value in use. For the purposes of assessing impairment, assets
are grouped at the lowest levels for which there are separately identifiable cash inflows,
which are largely independent of the cash inflows from other assets or group of assets
(cash generating units). Non-financial assets other than goodwill that suffer impairment
are reviewed for possible reversal of the impairment at each reporting date.
Reversal on impairment loss for assets other than goodwill would be recognised if, and
only if, there has been a change in the estimates used to determine the asset’s
recoverable amount since the last impairment test was carried out. Reversal on
impairment losses will be immediately recognised on profit or loss, except for assets
measured using the revaluation model as required by other SFAS. Impairment losses
relating to goodwill would not be reversed.
i. Current accounts with Bank Indonesia and other banks
Current accounts with Bank Indonesia and other banks are stated at face value or the
gross value of the outstanding balance, less allowance for impairment losses, where
appropriate. Current accounts with Bank Indonesia and other banks are classified as
financial assets measured at amortised cost. Refer to Note 2g for accounting policy for
financial assets measured at amortised cost.
j. Placements with Bank Indonesia and other banks
Placements with Bank Indonesia and other banks are classified as financial assets
measured at amortised cost and measured at fair value through other comprehensive
income. Refer to Note 2g for accounting policy for financial assets measured at amortised
cost and measured at fair value through other comprehensive income.
572 PT Bank Central Asia Tbk 2024 Annual Report
Page 575
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/28
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
k. Financial assets and liabilities at fair value through profit or loss
Financial assets and liabilities at fair value through profit or loss consist of securities traded
in the money market such as Bank Indonesia Treasury Bills (“SBBI”), Sekuritas Rupiah
and Valas Bank Indonesia, Government Treasury Bills (“SPN”), Sharia Government
Treasury Bills (“SPNS”), Sukuk Bank Indonesia, Corporate Bonds, investment in shares,
derivative financial instruments, and securities traded on the stock exchanges.
Refer to Note 2g for the accounting policy of financial assets and liabilities at fair value
through profit or loss.
Derivative financial instruments
Derivative instruments are initially recognised at fair value on the date of which a derivative
contract is entered into and are subsequently measured at their fair values. Fair values
are obtained from quoted market prices in active markets, including recent market
transactions and valuation techniques, including discounted cash flow and options pricing
models, as appropriate. All derivatives are carried as assets when fair value is positive
and as liabilities when fair value is negative.
Investment in sukuk measured at fair value through profit or loss
The Group initially recognises the investment in sukuk measured at fair value through
profit or loss at fair value. The changes on fair value are recognised in the consolidated
statements profit or loss.
The fair value of investment is determined by referencing to the following order:
• quoted price (without adjustments) in active market; or
• input other than quoted price in the observable active market.
Investment in sukuk measured at fair value through profit or loss is presented in the
consolidated statements of financial position as part of financial assets at fair value
through profit or loss.
l. Acceptance receivables and payables
Acceptance receivables are classified as financial assets measured at amortised cost,
while acceptance payables are classified as financial liabilities measured at amortised
cost. Refer to Note 2g for the accounting policy of financial assets measured at amortised
cost and financial liabilities measured at amortised cost.
m. Loan receivables
Loan receivables are classified as financial assets measured at amortised cost. Refer to
Note 2g for the accounting policy of financial assets measured at amortised cost.
Syndicated, joint financing, and channelling loans are stated at amortised cost in
accordance with the portion of risks borne by the Group.
2024 Annual Report PT Bank Central Asia Tbk 573
Page 576
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/29
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
m. Loan receivables (continued)
The Group records restructure of troubled debt in accordance with the restructured type.
In troubled debt restructuring which involves a modification of terms, reduction of portion
of loan principal and/or combination of both, the Group records the effect of the
restructuring by referring to Note 2g for the accounting policy of modification of financial
assets.
A Non-Performing Loan ("NPL") is a loan classified by Otoritas Jasa Keuangan ("OJK") as
sub-standard, doubtful, or loss based on business prospects, financial performance, and
repayment capacity.
n. Securities purchased under agreements to resell and securities sold under
agreements to repurchase
Securities purchased under agreements to resell (reverse repo) are presented as asset in
the consolidated financial statement at the agreed resell price less the difference between
the purchase price and the agreed resale price. The difference between the purchase
price and the agreed resale price is amortised using the effective interest method as
interest income over the period commencing from the acquisition date to the resell date.
Securities purchased under agreements to resell (reverse repo) are classified as financial
asset measured at amortised cost. Refer to Note 2g for the accounting policy of financial
assets measured at amortised cost.
Securities sold under agreements to repurchase (repo) are presented as liabilities and
stated at the agreed repurchase price less the unamortised interest expense. Unamortised
interest expense is the difference between selling price and agreed repurchase price and
is recognised as interest expense during the period from the securities are sold until the
securities are repurchased. Securities sold are still recorded as assets in the consolidated
statements of financial position because the securities ownership remains substantially
with the Group as a seller. Securities sold under agreements to repurchase (repo) are
classified as financial liabilities measured at amortised cost. Refer to Note 2g for the
accounting policy of financial liabilities measured at amortised cost.
o. Consumer financing receivables
Consumer financing receivables are stated at net of joint financing, unearned consumer
financing income and allowance for impairment losses. Consumer financing receivables
are classified as financial assets measured at amortised cost. Refer to Note 2g for the
accounting policy of financial assets measured at amortised cost.
Unearned consumer financing income represents the difference between total instalments
to be received from the consumer and the principal amount financed, plus or deducted
with the unamortised transaction cost (income), which will be recognised as income over
the term of the contract using effective interest rate method of the related consumer
financing receivables.
Unamortised transaction cost (income) are financing administration income and
transaction expense which are incurred at the first time and directly attributable to
consumer financing.
Early termination of a contract is treated as a cancellation of an existing contract and the
resulting gain is recognised in the current year consolidated statements of profit or loss.
574 PT Bank Central Asia Tbk 2024 Annual Report
Page 577
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/30
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
o. Consumer financing receivables (continued)
Consumer financing receivables will be written-off when they are overdue for more than
150 (one hundred and fifty) days for 4 (four) wheels motor vehicles and 180 (one hundred
and eighty) days for 2 (two) wheels motor vehicles and based on management review on
case by case basis.
Recoveries from receivables which had been written off in the current period are recorded
by adjusting the allowance account, while recovery of financial assets previously written-
off are recognised as other income.
Joint financing
All joint financing agreements entered by the Subsidiary are joint financing without
recourse in which only the Subsidiary’s financing portion of the total instalments are
recorded as consumer financing receivables in the consolidated statements of financial
position (net approach). Consumer financing income is presented in the consolidated
statements of profit or loss and other comprehensive income after deducting the portions
belong to other parties participated to these joint financing transactions.
Receivables from collateral vehicles reinforced
Since 2024, Receivables from collateral vehicles reinforced represent receivables derived
from motor vehicle collaterals owned by customers for settlement of their consumer
financing receivables, which is presented as part of other assets.
In case of default, the customer gives the right to the Group to sell the motor vehicle
collaterals or take any other actions to settle the outstanding receivables.
Consumers are entitled to the positive differences between the proceeds from sales of
foreclosed collaterals and the outstanding consumer financing receivables. If the
differences are negative, the resulting losses are charged to the current year consolidated
statements of profit or loss and other comprehensive income.
Expenses in relation with the acquisition and maintenance of receivables from collateral
vehicles reinforced are charged to the current year consolidated statements of profit or
loss and other comprehensive income when incurred.
p. Finance lease receivables
The determination of whether an arrangement is, or contains a lease is based on the
substance of the arrangement at inception date and whether the fulfilment of the
arrangement is dependent on the use of a specific asset and the arrangement conveys a
right to use the asset.
Leases are classified as finance leases if such leases transfer substantially all the risks
and rewards related to the ownership of the lease assets. Leases are classified as
operating leases if the leases do not transfer substantially all the risks and rewards related
to the ownership of the leased assets.
2024 Annual Report PT Bank Central Asia Tbk 575
Page 578
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/31
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
p. Finance lease receivables (continued)
Assets held under finance lease receivables are recognised in the consolidated
statements of financial position at an amount equal to the net investment in the leases.
Receipts from lease receivables are treated as repayments of principal and financing
lease income. The recognition of financing lease income is based on a pattern reflecting
constant periodic rate of return on the Group’s net investment as lessor in the finance
leases.
Finance leases receivables will be written off when they are overdue for more than 150
(one hundred fifty) days and based on management review of individual case. Recoveries
from receivables previously written-off are recognised as other income upon receipt.
q. Assets related to sharia transactions
Assets related to sharia transactions is financing activities carried out by PT Bank BCA
Syariah, a Subsidiary, in the form of murabahah receivables, funds of qardh, mudharabah
financing, musyarakah financing and assets acquired for ijarah.
Brief explanation for each type of sharia financing is as follows:
Murabahah is a financing agreement to sell or purchase of goods, in which the selling
price equals to the cost of goods plus a pre-agreed profit margin and the seller should
disclose its cost to the buyer. Murabahah receivables is stated at balance of receivables
less deferred margin and allowance for impairment losses.
Ijarah is a lease agreement for goods and/or services, including the right to use, between
the owner of a leased object (lessor) and lessee, to generate income from the leased
object. Ijarah muntahiyah bittamlik is a lease agreement between lessor and lessee to
obtain income from the leased object with an option to transfer the ownership title of leased
object through purchase/sale or as a gift (hibah) at certain period as agreed in the lease
agreement (akad). Ijarah muntahiyah bittamlik assets are stated at the acquisition costs
less accumulated depreciation. Ijarah receivable is recognised at maturity date based on
unearned lease income and presented at net realisable value, i.e. balance of the
receivables less allowance for impairment losses.
Mudharabah is an investment of funds from the owner of fund (malik, shahibul maal, or
sharia bank) to a fund manager (amil, mudharib, or customer) for a specific business
activity, under a profit or revenue sharing agreement between the two parties at a pre-
agreed ratio (nisbah). Mudharabah financing is stated at financing balance less allowance
for impairment losses.
Musyarakah is an investment of funds from the owners of funds to combine their funds for
a specific business activity, for which the profits are shared based on a pre-agreed nisbah,
while losses are borne proportionally by the fund owners.
Permanent musyarakah is a musyarakah for which the amount of funds contributed by
each party is fixed until the end of the agreement. Declining musyarakah (musyarakah
mutanaqisha) is musyarakah with a condition that the amount contributed by a party will
be declining from time to time as it is transferred to another party, such that at the end of
the agreement, the other party will fully own the business. Musyarakah financing is stated
at financing balance less allowance for impairment losses.
576 PT Bank Central Asia Tbk 2024 Annual Report
Page 579
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/32
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
q. Assets related to sharia transactions (continued)
The Subsidiary determines the allowance for impairment losses of sharia financing
receivables in accordance with the quality of each financing receivable by referring to the
requirements of Financial Services Authority, except for murabahah receivables. In
accordance with SFAS 402 “Accounting for Murabahah” and Indonesia Sharia Banking
Accounting Guidelines (PAPSI Revised 2013), the Bank calculates individual impairment
for murabahah receivable in accordance with IFAS No. 402 “Impairment of Murabahah
Receivables”. The Bank assesses whether there is any objective evidence that a financial
assets is impaired at each statement of financial position date. The Bank uses the
migration analysis method which is a statistical model analysis method to assess
allowance for impairment losses on collective receivables. The Bank uses 5 (five) years
historical data to compute for the Probability of Default (“PD”) and Loss Given Default
(“LGD”).
r. Investment securities
Investment securities consist of traded securities in the money market and stock exchange
such as Government Bonds, Sekuritas Rupiah and Valas Bank Indonesia, Sukuk Bank
Indonesia, Sukuk, Corporate Bonds, Certificates of Bank Indonesia, mutual funds,
medium term notes and shares. Investment securities are classified as financial assets
measured at amortised cost and measured at fair value through other comprehensive
income. Refer to Note 2g for the accounting policy for financial assets measured at
amortised cost and at fair value through other comprehensive income.
Investments in sukuk measured at cost and measured at fair value through other
comprehensive income
The Group determines the classification of their investment in sukuk based on business
model in accordance with SFAS 410 “Accounting for Sukuk” as follows:
• Investment securities are measured at cost and are presented at acquisition cost
(including transaction costs) adjusted for unamortised premiums and/or discounts.
Premiums and discounts are amortised over the period to maturity.
• Investment securities are measured at fair value through other comprehensive income
which is stated at fair value. Unrealised gains or losses due to the increase or
decrease in fair value are presented in other comprehensive income for the year.
s. Fixed assets
Fixed assets are initially recognised at acquisition cost. Acquisition cost includes
expenditures directly attributable to bring the assets for their intended use. Except for land,
subsequent to initial measurement, all fixed assets are measured using cost model, which
is cost less accumulated depreciation and accumulated impairment losses. Land is not
depreciated.
In 2016, the Bank changed its accounting policy related to subsequent measurement of land
from cost model to revaluation model. The change of accounting policy is implemented
prospectively.
2024 Annual Report PT Bank Central Asia Tbk 577
Page 580
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/33
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
s. Fixed assets (continued)
Land is presented at fair value, based on valuation performed by external independent
valuers which are registered with OJK. Valuation of land is carried out by appraisers who
have professional qualifications. Revaluation is carried out with sufficient regularity to ensure
that the carrying amount of revalued assets does not differ materially from their fair values
at the reporting date.
Increases arising on the revaluation are credited to “revaluation surplus of fixed assets” as
part of other comprehensive income. However, the increase is recognised in profit or loss
up to the amount of the same asset impairment from revaluation previously recognised in
the consolidated statements of profit or loss and other comprehensive income. Decreases
that offset previous increases of the same asset are debited against ”revaluation surplus of
fixed assets” as part of other comprehensive income, all other decreases are charged to the
consolidated statements of profit or loss.
Costs relating to the acquisition of legal titles on the land rights are recognised as part of
acquisition cost of land. The costs of extension or renewal of legal titles on the land rights
are charged to consolidated profit or loss as incurred because the amount is not material.
Buildings are depreciated using the straight-line method over their estimated useful lives of
20 (twenty) years. Other fixed assets are depreciated over their estimated useful lives
ranging from 2 (two) to 8 (eight) years using the double-declining balance method for the
Bank and PT BCA Finance, and straight-line method for other Subsidiaries. The effect of
such different depreciation method is not material to the consolidated financial statements.
For all fixed assets, the Group has determined residual values to be “nil” for the calculation
of depreciation.
In 2024, the Bank changes in its accounting estimate on depreciation method for fixed
assets, with the exception of buildings, to the straight line method over their estimated
useful lives of 5 (five) years. The changes in accounting estimate is implemented
prospectively. The changes in accounting estimate related to depreciation methods or
useful lives for fixed assets, with the exception of buildings, have not been implemented
by the subsidiaries. The effect of such different depreciation method is not material to the
consolidated financial statements.
Subsequent costs are included in the asset’s carrying amount or recognised as a separate
asset as appropriate, only when it is probable that future economic benefits associated with
the item will flow to the Group and the cost of the item can be measured reliably. The
carrying amount of replaced part is derecognised. All other repairs and maintenance are
charged to the consolidated statements of profit or loss and other comprehensive income
during the financial period in which they are incurred.
Buildings under construction are stated at acquisition cost. The accumulated costs will be
transferred to the buildings account when construction is completed and the buildings are
ready for their intended use.
When assets are disposed, their acquisition cost and the related accumulated depreciation
are eliminated from the consolidated statements of financial position, and the resulting gain
or loss on the disposal of fixed assets is recognised in the current year consolidated
statements of profit or loss. When revalued assets are sold, the amounts included in equity
are transferred to retained earnings.
578 PT Bank Central Asia Tbk 2024 Annual Report
Page 581
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/34
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
s. Fixed assets (continued)
At each reporting date, residual value, useful life and depreciation method are reviewed,
and if required, will be adjusted and applied in accordance with the requirement of prevailing
Statement of Financial Accounting Standards.
When the carrying amount of fixed assets measured using cost model is greater than its
estimated recoverable amount, it is written down to its recoverable amount and the
impairment loss is recognised in the current year consolidated statements of profit or loss
and other comprehensive income.
t. Other assets
Other assets include accrued interest income, receivables, foreclosed assets, abandoned
properties, interoffice accounts, and others.
Abandoned properties represent the Group is fixed assets in the form of properties which
were not used for the Group business operational activity.
Foreclosed assets are presented at their net realisable values. Net realisable value is the
fair value of the foreclosed assets less estimated costs to sale the foreclosed assets.
Differences between the net realisable value and the proceeds from disposal of the
foreclosed assets are recognised as current year gain or loss at the year of disposal.
The Bank measures AYDA at the lower of the carrying amount and fair value after deducting
the estimated costs to sell the AYDA. The difference between the net realisable value and
the sale of AYDA is recognised as gain or loss in the current year when it is sold.
Expenses for maintaining foreclosed assets and abandoned properties are recognised in
the current year consolidated statements of profit or loss and other comprehensive income
as incurred. Any permanent impairment loss that occurred will be charged to the current
year consolidated statements of profit or loss and other comprehensive income. Refer to
Note 2h for changes in accounting policy to determine impairment losses on foreclosed
assets and abandoned properties.
u. Intangible assets
Intangible assets consist of software and goodwill.
Software
Software is stated at cost less accumulated amortisation and accumulated impairment
losses. Acquired computer software licences are capitalised on the basis of the costs
incurred to acquire and bring to use the specific software. Costs associated with
maintaining computer software programs are recognised as an expense as incurred.
Development costs that are directly attributable to the design and testing of identifiable
and unique software products controlled by the Group are recognised as software. Other
development expenditures that do not meet these criteria are recognised as an expense
as incurred. Development costs previously recognised as an expense are not recognised
as an asset in a subsequent period.
2024 Annual Report PT Bank Central Asia Tbk 579
Page 582
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/35
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
u. Intangible assets (continued)
Intangible assets consist of software and goodwill. (continued)
Software (continued)
Software is amortised using the double-declining balance method over their estimated
useful lives of 4 (four) years for the Bank. Software is amortised using the double-declining
balance method for PT BCA Digital, meanwhile the other Subsidiaries are using the straight-
line method over their estimated useful lives ranging from 4 (four) to 8 (eight) years.
Amortisation is recognised in the current year consolidated statements of profit or loss.
In 2024, the Bank changes accounting policy regarding amortisation method and useful
life of software to straight-line method over their estimated useful lives of 5 (five) years for
the Bank. The effect of such different depreciation method is not material to the consolidated
financial statements.
Goodwill
Goodwill represents the excess of the aggregate amount of the consideration transferred and
the amounts of non-controlling interest and the amounts of the identifiable assets acquired
and the liabilities assumed at the date of acquisition. Goodwill is not amortised but tested for
impairment at each reporting date and carried at cost less accumulated impairment losses.
For the purpose of impairment testing, goodwill acquired in a business combination is
allocated to each cash-generating unit (“CGU”), or group of CGUs, that is expected to benefit
from the synergies of the business combination. Each unit or group of units to which the
goodwill is allocated represents the lowest level within the entity at which the goodwill is
monitored for internal management purposes. Goodwill is monitored at the operating segment
level. For Group accounting policy of impairment losses refer to Note 2h.
v. Deposits from customers and other banks
Deposits from customers are the fund trusted by customers (exclude banks) to the Bank
based on fund deposits agreements. Included in this account are current accounts, saving
accounts, time deposits and certificates of deposits.
Deposits from other banks represent liabilities to other banks, both domestic and overseas
banks, in the form of current accounts, saving accounts, time deposits, and interbank call
money.
Deposits from customers and deposits from other banks are classified as financial
liabilities at amortised cost. Incremental costs directly attributable to acquisition of deposits
from customers and deposits from other banks are deducted from the amount of deposits
from customers and deposits from other banks. Refer to Note 2g for the accounting policy
of financial liabilities at amortised cost.
580 PT Bank Central Asia Tbk 2024 Annual Report
Page 583
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/36
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
w. Sharia deposits
Sharia deposits are deposits from third parties in form of wadiah demand deposits and
wadiah savings. Wadiah demand deposits can be used as payment instrument and can
be withdrawn using cheque and payment slip. Wadiah demand deposits and wadiah
savings are entitled to receive bonus in accordance with Subsidiary’s policy. Wadiah
demand deposits and wadiah savings are stated at nominal amount of deposits from
customers. Sharia deposits are classified as financial liabilities measured at amortised
cost. Refer to Note 2g for accounting policy on financial liabilities measured at amortised
cost.
x. Temporary syirkah deposits
Temporary syirkah deposit is an investment with mudharabah muthlaqah agreement,
where the owner of funds (shahibul maal) gives flexibility to fund manager
(mudharib/Subsidiary) in managing the investment with the purpose that the returns are
to be shared based on a pre-agreed basis.
Temporary syirkah deposits consist of mudharabah saving, mudharabah time deposits
and Sertifikat Investasi Mudharabah Antarbank (“SIMA”). These funds obtained by
Subsidiary which has the right to manage and invest fund, according to Subsidiary’s policy
or limitation from fund holders, whereby gains are to be shared based on the agreement.
In case that the decrease of temporary syirkah deposits was caused by normal losses,
and not caused by willful default, negligence or breach of the agreement, the Subsidiary
has no obligation to return or cover the fund losses or deficit.
Mudharabah saving is deposit from third parties which are entitled to receive sharing
revenue for the utilisation of the funds with a pre-agreed and approved nisbah.
Mudharabah saving is stated at the liabilities to customers.
Mudharabah time deposit is deposit from third parties which can only be withdrawn at a
specific time based on the agreement between holder of mudharabah time deposits and
the Subsidiary. Mudharabah time deposits are stated at nominal amount based on the
agreement between holder of mudharabah time deposits and the Subsidiary.
Temporary syirkah deposit can not be classified as liability. When the Subsidiary incurs
losses, the Subsidiary does not possess any liability to return the initial fund amount from
the fund owners except from negligence or default of the Subsidiary. Temporary syirkah
deposit can not be classified as equity because it has maturity date and owner and it does
not possess any ownership rights equal to shareholders as voting rights and rights of gain
realisation from current assets and non-investment assets.
Temporary syirkah deposit is one of the elements of consolidated financial statements, it
in accordance with sharia principle which give rights to Subsidiary to manage the fund,
including blending the funds with other funds.
2024 Annual Report PT Bank Central Asia Tbk 581
Page 584
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/37
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
x. Temporary syirkah deposits (continued)
Owners of temporary syirkah deposits obtain part of gain as agreed and incur losses
based on the amount from each parties. Revenue sharing of temporary syirkah deposits
can be done by revenue sharing concept or profit sharing concept.
y. Debt securities issued
Debt securities issued by Subsidiary which consists of bonds payable, are classified as
other financial liabilities measured at amortised cost. Issuance costs in connection with
the issuance of debt securities are recognised as discounts and directly deducted from
the proceeds of debt securities issued and amortised over the period of debt securities
using the effective interest method. Debt securities issued is classified as financial
liabilities at amortised cost. Refer to Note 2g for the accounting policy of financial liabilities
measured at amortised cost.
z. Subordinated bonds
Subordinated bonds are classified as financial liabilities measured at amortised cost.
Incremental costs directly attributable to the issuance of subordinated bonds are deducted
from the amount of subordinated bonds received. Refer to Note 2g for the accounting
policy for financial liabilities at amortised cost.
aa. Provision
A provision is recognised if, as a result of a past event, the Group has a present legal or
constructive obligation that can be estimated reliably, and it is probable that an outflow of
economic benefits will be required to settle the obligation. Provisions are measured at the
present value of management’s best estimate of the expenditure required to settle the
present obligation at the end of the reporting period. Provisions are determined by
discounting the estimated future cash flows at a pre-tax rate that reflects current market
assessments of the time value of money and the risks specific to the liability.
ab. Accruals and other liabilities
Accruals and other liabilities consist of accrued interest expense, liabilities related to
customer and insurance transactions, security deposits, unearned revenue, finance lease
liabilities and others.
ac. Earnings per share
Basic earnings per share is computed based on net income for the current year
attributable to equity holders of parent entity divided by the weighted average number of
outstanding issued and fully paid-up common shares during the year after considering the
treasury stocks.
As of 31 December 2024 and 2023, there were no diluted instruments. Therefore, diluted
earnings per share is equivalent to basic earnings per share.
582 PT Bank Central Asia Tbk 2024 Annual Report
Page 585
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/38
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
ad. Interest income and expenses & sharia income and expenses
Interest income and expenses
Interest income and expenses are recognised in the consolidated statements of profit or
loss using the effective interest method. The effective interest rate is the rate that exactly
discounts the estimated future cash payments and receipts through the expected life of
the financial asset or financial liability (or, where appropriate, a shorter period) to the
carrying amount of the financial asset or financial liability. When calculating the effective
interest rate, the Group estimates future cash flows by considering all contractual terms
of the financial instrument but not future credit losses.
The calculation of the effective interest rate includes transaction costs (Note 2g) and all
fees and points paid or received that are an integral part of the effective interest rate.
Interest income and expenses presented in the consolidated statements of profit or loss
and other comprehensive income include:
• Interest on financial assets and liabilities at amortised cost calculated using the
effective interest rate method;
• Interest on investment securities at fair value through other comprehensive income
calculated using the effective interest rate method;
• Interest income on all financial assets at fair value through profit or loss are considered
to be incidental to the Group’s trading operations and are presented as part of net
trading income; and
• Interest income on the impaired financial assets continues to be recognised using the
rate of interest used to discount the future cash flows for the purpose of measuring
the impairment losses.
Sharia income and expenses
Sharia income consists of murabahah profit, ijarah revenue (leases), and profit sharing
from mudharabah and musyarakah financing.
Recognition of murabahah transaction profit with deferred payment or instalments is
carried out during the contractual period in accordance with effective (annuity) method.
Ijarah revenue is recognised proportionally and net during the contractual period.
Musyarakah revenue sharing which is entitled to passive partner is recognised during the
period in which the revenue occurs according to agreed nisbah.
Mudharabah revenue sharing is recognised during the period in which revenue sharing in
accordance to agreed nisbah occurs, and not allowed to recognise revenue from projected
business result.
Sharia expenses consist of mudharabah sharing expense and wadiah bonus expense.
Sharing expenses consist of expense for profit distribution on third party funds which are
calculated using profit distribution principle in accordance with agreed sharing ratio
(nisbah) based on mudharabah mutlaqah principle.
2024 Annual Report PT Bank Central Asia Tbk 583
Page 586
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/39
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
ae. Fees and commission income and expenses
Fees and commission income and expenses that are integral to the effective interest rate
on a financial asset or liability are included in the measurement of the effective interest
rate.
Other fees and commission income, including bancassurance activity related fees, export-
import related fees, cash management fees, service fees and/or related to a specific
period and the amount is significant, are recognised as unearned income/prepaid
expenses and amortised based on the straight-line method over the terms of the related
transactions; otherwise, they are directly recognised as the related services are
performed. Loan commitment fees are recognised on a straight-line method over the
commitment period.
Commission income related to credit and debit card transactions, less costs directly
related to these transactions, is presented on a net basis in the consolidated statement of
profit or loss and other comprehensive income.
af. Net income from transactions at fair value through profit or loss
Net income from transactions at fair value through profit or loss comprises of net gains or
losses related to financial assets and liabilities at fair value through profit or loss, including
interest income and expenses from all financial instruments at fair value through profit or
loss and all realised and unrealised fair value changes and foreign exchange differences.
ag. Post-employment benefits obligation
ag.1. Short-term liability
Liabilities for wages and salaries, including non-monetary benefits and accumulating
sick leave that are expected to be settled wholly within 12 months after the end of
the period in which the employees render the related service are recognised in
respect of employees’ services up to the end of the reporting period and
are measured at the amounts expected to be paid when the liabilities are settled.
The liabilities are presented as current employee benefit obligations in the
consolidated statements of financial position.
ag.2. Pension obligation
Entities in the Group operate various pension schemes. The Group has both defined
benefit and defined contribution plans. A defined contribution plans is a pension plan
under which the Group pays fixed contributions (funds) into a separate entity. The
Group has no legal or constructive obligations to pay further contributions if the fund
does not hold sufficient assets to pay all employees the benefits relating to employee
service in the current and prior periods. A defined benefit plans is an amount of
pension benefit that an employee will receive on retirement, usually dependent on
one or more factors such as age, years of service, and compensation.
584 PT Bank Central Asia Tbk 2024 Annual Report
Page 587
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/40
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
ag. Post-employment benefits obligation (continued)
ag.2. Pension obligation (continued)
The liability recognised in the consolidated statements of financial position in respect
of defined benefit pension plans is the present value of the defined benefit obligation
at the end of the reporting period less the fair value of plan assets. The defined
benefit obligation is calculated annually by independent actuaries using the
projected unit credit method. The present value of the defined benefit obligation is
determined by discounting the estimated future cash outflows using interest rates of
Government Bonds (considering currently there is no deep market for high-quality
corporate bonds) that are denominated in the currency in which the benefits will be
paid, and that have terms to maturity approximating to the terms of the related
pension obligation.
The net interest cost is calculated by applying the discount rate to the net balance
of the defined benefit obligation and the fair value of plan assets. This cost is
included in employee benefit expense in the consolidated statements of profit or loss
and other comprehensive income.
Remeasurement gains and losses arising from experience adjustments and
changes in actuarial assumptions are charged or credited to equity in other
comprehensive income in the period in which they arise. They are included in
retained earnings in the consolidated statements of changes in equity and in the
consolidated statements of profit or loss and other comprehensive income.
Changes in the present value of the defined benefit obligation resulting from plan
amendments or curtailment programs are recognised immediately in the
consolidated statements of profit or loss and other comprehensive income as past
service costs.
For defined contribution plans, the Group pays contributions to pension plans on a
mandatory, contractual or voluntary basis. However, since Job Creation Act requires
an entity to pay to a worker entering into pension age a certain amount based on,
the worker’s length of service, the Group is exposed to the possibility of having to
make further payments to reach that certain amount in particular when the
cumulative contributions are less than that amount. Consequently for financial
reporting purposes, defined contribution plans are effectively treated as if they were
defined benefit plans.
ag.3. Other post-employment obligations
The Bank provides post-retirement healthcare benefits to their employees.
The entitlement to these benefits is usually conditional on the employee remaining
in service up to retirement age and the completion of a minimum service period.
The expected costs of these benefits are reserved over the period of employment
using projected unit credit method. These obligations are valued annually by
independent qualified actuaries.
2024 Annual Report PT Bank Central Asia Tbk 585
Page 588
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/41
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
ag. Post-employment benefits obligation (continued)
ag.4. Termination benefits
Termination benefits are payable when employment is terminated by the Group
before the normal retirement date, or whenever an employee accepts voluntary
redundancy in exchange for these benefits. The Group recognises termination
benefits at the earlier of the following dates: (i) when the Group can no longer
withdraw the offer of those benefits; and (ii) when the Group recognises costs for a
restructuring that is within the scope of SFAS 237 and involves the payment of
termination benefits. In the case of an offer made to encourage voluntary
redundancy, the termination benefits are measured based on the number of
employees expected to accept the offer. Benefits falling due more than 12 months
after the reporting date are discounted to their present value.
ah. Current and deferred income tax
Income tax expense comprises of current and deferred taxes. Income tax expense is
recognised in the consolidated statements of profit or loss and other comprehensive
income, except to the extent that it relates to items recognised directly in other
comprehensive income or equity. In this case, the tax is also recognised in other
comprehensive income or directly in equity, respectively.
The current income tax charge is calculated on the basis of the tax laws enacted or
substantively enacted at the end of the reporting period in the countries where the entities
in the Group operate and generate taxable income. Management periodically evaluates
positions taken in annual tax returns (“SPT”) with respect to situations in which applicable
tax regulation is subject to interpretation. It establishes provisions where appropriate on
the basis of amounts expected to be paid to the tax authorities.
Deferred income tax is provided in full, using the liability method, on temporary differences
which arise from the difference between the tax bases of assets and liabilities and their
carrying amounts in the consolidated financial statements. However, deferred tax liabilities
are not recognised if they arise from the initial recognition of goodwill. Deferred income
tax is also not accounted for if it arises from initial recognition of an asset or liability in a
transaction other than a business combination that at the time of the transaction affects
neither accounting nor taxable profit or loss.
Deferred income tax is determined using tax rates that have been enacted or substantially
enacted by the end of the reporting period and are expected to apply when the related
deferred income tax asset is realised or the deferred income tax liability is settled.
Deferred tax assets are recognised only if it is probable that future taxable amounts will
be available to utilise those temporary differences and losses.
Deferred tax liabilities are not recognised for temporary differences between the carrying
amount and tax bases of investments in foreign operations where the company is able to
control the timing of the reversal of the temporary differences and it is probable that the
differences will not reverse in the foreseeable future.
586 PT Bank Central Asia Tbk 2024 Annual Report
Page 589
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/42
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
ah. Current and deferred income tax (continued)
Deferred tax assets and liabilities are offset when there is a legally enforceable right to
offset current tax assets and liabilities and when the deferred tax balances relate to the
same taxation authority. Current tax assets and tax liabilities are offset where the entity
has a legally enforceable right to offset and intends either to settle on a net basis, or to
realise the asset and settle the liability simultaneously.
ai. Leases transaction
At the inception of a contract, the Group assesses whether the contract is or contains a
lease. A contract is or contains a lease if the contract conveys the right to control the use
of an identified assets for a period of time in exchange for consideration. The Group can
choose not to recognise the right-of-use asset and lease liabilities for:
- Leases with a lease term of 12 months or less; and
- Low value underlying assets
To assess whether a contract conveys the right to control the use of an identified asset,
the Group shall assess whether:
- The Group has the right to obtain substantially all the economic benefit from use of
the identified asset; and
- The Group has the right to direct the use of the identified asset. The Group has
described when it has a decision-making rights that are the most relevant to changing
how and for what purpose the asset is used are predetermined:
1. The Group has the right to operate the asset;
2. The Group has designed the asset in a way that predetermine how and for what
purposes it will be used throughout the period of use.
The Group recognises a right-of-use asset and a leases liability at the leases
commencement date. The right-of-use asset is initially measured at cost, which comprises
the initial amount of the leases liability adjusted for any lease payment made at or before
the commencement date, plus any initial direct cost incurred.
The right-of-use asset is amortised over the straight-line method throughout the lease
term.
The lease liability is initially measured at the present value of the lease payments that are
not paid at the commencement date, discounted using the interest rate implicit in the lease
or, if that right cannot be readily determined, using incremental borrowing rate. Generally,
the Group uses its incremental borrowing rate as a discount rate.
Each lease payment is allocated between the liabilities and finance cost. The finance cost
is charged to profit or loss over the lease period so as to produce a constant periodic rate
of interest on the remaining balance of the liability for each period.
The Group presents right-of-use assets as part of “Fixed assets” and lease liabilities as
part of “Other liabilities” in the consolidated statements of financial position.
2024 Annual Report PT Bank Central Asia Tbk 587
Page 590
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/43
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
ai. Lease Transaction (continued)
If the lease transfers ownership of the underlying asset to the Group by the end of the
lease term or if the cost of the right-of-use asset reflects that the Group will exercise a
purchase option, the Group depreciates the right-of-use asset from the commencement
date to the end of the useful life of the underlying asset. Otherwise, the Group depreciates
the right-of-use asset from the commencement date to the earlier of the end of the useful
life of the right-of-use asset or the end of the leases term.
The Group analyses the facts and circumstances for each type of landrights in determining
the accounting for each of these land rights so that it can accurately represent an
underlying economic event or transaction. If the landrights do not transfer control of the
underlying assets to the Group, but gives the rights to use the underlying assets, the
Group applies the accounting treatment of these transactions as leases under SFAS 116,
“Lease”, except if landrights substantially similar to land purchases, the Group applies
SFAS 216 “Fixed Assets”.
aj. Operating segment
An operating segment is a component of the entity that engages in business activities
from which it may earn revenues and incur expenses, including revenues and expenses
that relate to transactions with any of the entity’s other components, whose operating
results are reviewed regularly by the chief operating decision-maker to make decisions
about resources allocated to the segment and assess its performance, and for which
discrete financial information is available. Segment results that are reported to the chief
operating decision-maker include items directly attributable to a segment as well as those
that can be allocated on a reasonable basis. Unallocated items mainly comprise of head
office expenses, fixed assets, income tax assets/liabilities, including current and deferred
taxes.
The Group manages its businesses and identify reporting segment based on geographic
region and product. Several regions have similar characteristics, have been aggregated
and evaluated regularly by management. Gains/losses from each segment is used to
assess the performance of each segment.
ak. Related parties transactions
The Group has transactions with related parties. In accordance with SFAS 224 “Related
Party Disclosure”, the meaning of a related party is a person or entity that is related to a
reporting entity as follow:
a. A person or a close member of that person’s family is related to a reporting entity if
that person:
i. has control or joint control over the reporting entity;
ii. has significant influence over the reporting entity; or
iii. is member of the key management personnel of the reporting entity or a parent of
the reporting entity.
588 PT Bank Central Asia Tbk 2024 Annual Report
Page 591
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/44
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
ak. Related parties transactions (continued)
The Group has transactions with related parties. In accordance with SFAS 224 “Related
Party Disclosure”, the meaning of a related party is a person or entity that is related to a
reporting entity as follow: (continued)
b. An entity is related to a reporting entity if any of the following conditions applies:
i. the entity and the reporting entity are members of the same group (which means
that each parent, subsidiary and fellow subsidiary is related to the others);
ii. one entity is an associate or joint venture of the other entity (or an associate or
joint venture of member of a company of which the other entity is a member);
iii. both entities are joint ventures of the same third party;
iv. one entity is a joint venture of a third entity and the other entity is an associate of
the third entity;
v. the entity is a post-employment benefit plan for the benefit of employees of either
the reporting entity or an entity related to the reporting entity;
vi. the entity controlled or jointly controlled by a person identified in (a);
vii. a person identified in (a) (i) has significant influence over the entity or is a member
of the key management personnel of the entity (or of a parent of the entity).
The nature of transactions and balances of accounts with related parties are disclosed in
the Note 46.
3. USE OF ESTIMATES AND JUDGMENT
This disclosure supplements the commentary on financial risk management (Note 42).
a. Key sources of estimation uncertainty
a.1. Allowance for impairment losses of financial assets
According to SFAS 109, the measurement of the expected credit loss allowance for
financial assets measured at amortised cost and at fair value through other
comprehensive income is an area that requires the use of complex models and
significant assumptions about future economic conditions and credit behaviour.
Significant estimates are required in applying the SFAS 109 requirements for
measuring allowance for impairment losses, such as:
• Determining criteria for Significant Increase in Credit Risk;
• Choosing appropriate models and assumptions for the measurement of
allowance for impairment losses;
• Establishing the number and relative weightings of forward-looking scenarios for
each type of segment/product;
• Establishing the segments of similar financial assets for the purposes of
measuring allowance for impairment losses;
• Estimate debtor’s cash flow in the calculation of individual impairment.
Detailed information about financial risk management related to the judgments and
estimates made by the Group is set out in Note 42.
2024 Annual Report PT Bank Central Asia Tbk 589
Page 592
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/45
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
3. USE OF ESTIMATES AND JUDGMENT (continued)
This disclosure supplements the commentary on financial risk management (Note 42).
(continued)
a. Key sources of estimation uncertainty (continued)
a.2. Determining fair values of financial instruments
In determining the fair value of financial assets and liabilities for which there is no
observable market price, the Group must use the valuation techniques as described
in Note 2g for financial instruments that trade infrequently and have little price
transparency, fair value is less objective and requires varying degrees of judgment
depending on liquidity, concentration, uncertainty of market factors, pricing
assumptions, and other risks.
a.3. Post-employment benefits obligations
Present value of retirement obligations depends on several factors which determined
by actuarial basis using several assumptions. Assumptions used to determine
expenses (revenues) of net pension including discount rate and future salary growth.
Any changes on these assumptions will affect the recorded amount of pension
obligations.
a.4. Taxation
The Group requires significant judgment in determining tax provisions. Group
determines tax provisions based on estimates of the possible additional tax expense.
If the final outcome is different from the amount originally recorded, the difference
will have an impact in the profit or loss.
b. Critical accounting judgments in applying the Group accounting policy
Critical accounting judgments in applying the Group accounting policies include:
b.1. Valuation of financial instruments
The Group accounting policies on fair value measurements are discussed in
Note 2g.
Information regarding the fair value of financial instruments is disclosed in Note 37.
b.2. Financial asset and liability classification
The Group’s accounting policies provide scope for assets and liabilities to be
designated at the inception into different accounting categories in accordance with
the prevailing accounting standards and based on certain circumstances:
• In classifying financial assets as “measured at fair value through profit or
loss”, the Group has determined that the financial assets meet the description
of assets measured at fair value through profit or loss as set out in Note 2g;
• In classifying financial assets as “measured at amortised cost”, the Group has
determined that the financial assets meet the description of assets measured
at amortised cost as set out in Note 2g;
590 PT Bank Central Asia Tbk 2024 Annual Report
Page 593
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/46
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
3. USE OF ESTIMATES AND JUDGMENT (continued)
This disclosure supplements the commentary on financial risk management (Note 42).
(continued)
b. Critical accounting judgments in applying the Group accounting policy
(continued)
Critical accounting judgments in applying the Group accounting policies include:
(continued)
b.2. Financial asset and liability classification (continued)
The Group’s accounting policies provide scope for assets and liabilities to be
designated at the inception into different accounting categories in accordance with
the prevailing accounting standards and based on certain circumstances:
(continued)
• In classifying investment in sukuk as “measured at cost” and “measured at fair
value through other comprehensive income”, the Group has determined that the
investment meets the classification requirements as set out in Note 2r.
4. CASH
2024 2023
Rupiah 27,672,826 20,478,286
Foreign currencies 1,643,052 1,223,228
29,315,878 21,701,514
The balance of cash in Rupiah includes cash in Automatic Teller Machines (“ATM”) amounting
to Rp 9,165,874 and Rp 8,456,193 as of 31 December 2024 and 2023, respectively.
5. CURRENT ACCOUNTS WITH BANK INDONESIA
2024 2023
Rupiah 32,928,703 88,703,316
Foreign currencies 3,479,439 3,914,389
36,408,142 92,617,705
Information regarding the fulfillment of the Reserve Requirements ("RR") and Ratio of
Macroprudential Liquidity Buffer ("MPLB") is disclosed in Note 51.
Information on the classification and fair value of current account with Bank Indonesia is
disclosed in Note 37. Information on the maturity of current account with Bank Indonesia is
disclosed in Note 43.
2024 Annual Report PT Bank Central Asia Tbk 591
Page 594
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/47
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
6. CURRENT ACCOUNTS WITH OTHER BANKS
2024 2023
Rupiah 73,827 60,097
Foreign currencies 4,024,010 5,555,155
Total current accounts with other banks
before deducting allowance for impairment losses 4,097,837 5,615,252
Less:
Allowance for impairment losses
Rupiah (117) (323)
Foreign currencies (521) (576)
(638) (899)
Total current accounts with other banks - net 4,097,199 5,614,353
As of 31 December 2024 and 2023, the Group did not have balances of current accounts with
other banks from related parties.
Average effective interest rates (yield) per annum of current accounts with other banks were
as follows:
2024 2023
Rupiah 4.25% 4.03%
Foreign currencies 3.43% 3.01%
As of 31 December 2024 and 2023, all current accounts with other banks were categorised
as stage 1, had not experienced a significant increase in credit risk since initial recognition
and had no objective evidence of impairment. The changes in the allowance for impairment
losses on current accounts with other banks are as follows:
2024
Stage 1 Stage 2 Stage 3 Total
Balance, beginning of year (899) - - (899)
Net changes in exposure 271 - - 271
Foreign exchange difference (10) - - (10)
Balance, end of year (638) - - (638)
2023
Stage 1 Stage 2 Stage 3 Total
Balance, beginning of year (743) - - (743)
Net changes in exposure (179) - - (179)
Foreign exchange difference 23 - - 23
Balance, end of year (899) - - (899)
As of 31 December 2024 and 2023, management believes that the allowance for impairment
losses is adequate to cover possible losses arising from uncollectible current accounts with
other banks.
Information on the classification and fair value of current accounts with other banks
is disclosed in Note 37. Information on the maturity of current accounts with other banks is
disclosed in Note 43.
592 PT Bank Central Asia Tbk 2024 Annual Report
Page 595
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/48
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
7. PLACEMENTS WITH BANK INDONESIA AND OTHER BANKS
Details of placements with Bank Indonesia and other banks by type and contractual period
at initial placement were as follows:
2024
Up to >1-3 >3-6 > 6 - 12 More than
1 month months months months 12 months Total
Bank Indonesia:
Rupiah 4,542,314 - - - - 4,542,314
Foreign currencies 4,104,225 - - - - 4,104,225
Call money:
Rupiah 110,000 - - - - 110,000
Foreign currencies 4,991,180 1,153,069 - - - 6,144,249
Time deposits:
Rupiah 260,259 147,167 24,401 31,522 - 463,349
Foreign currencies 346,473 5,986 - - - 352,459
14,354,451 1,306,222 24,401 31,522 - 15,716,596
Less:
Allowance for impairment losses
Rupiah (4)
Foreign currencies (1,708)
(1,712)
Total placements with
Bank Indonesia and other banks - net 15,714,884
2023
Up to >1-3 >3-6 > 6 - 12 More than
1 month months months months 12 months Total
Bank Indonesia:
Rupiah 751,891 - - - - 751,891
Foreign currencies - - - - - -
Call money:
Rupiah 1,050,000 50,000 - - - 1,100,000
Foreign currencies - 1,452,228 - - - 1,452,228
Time deposits:
Rupiah 667,240 420,342 176,124 366,423 - 1,630,129
Foreign currencies 64,138 5,571 - - - 69,709
Certificate of deposits:
Rupiah - - - - 198,282 198,282
Others:
Foreign currencies 106 - - - - 106
2,533,375 1,928,141 176,124 366,423 198,282 5,202,345
Less:
Allowance for impairment losses
Rupiah (663)
Foreign currencies (21)
(684)
Total placements with
Bank Indonesia and other banks - net 5,201,661
As of 31 December 2024 and 2023, the Group did not have balances of placements with other
banks from related parties.
2024 Annual Report PT Bank Central Asia Tbk 593
Page 596
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/49
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
7. PLACEMENTS WITH BANK INDONESIA AND OTHER BANKS (continued)
Changes in unrealised gains (losses) from placements with other banks measured at fair value
through other comprehensive income are as follows:
2024 2023
Balance, beginning of year - before deferred
income tax (1,086) -
Addition of unrealised gains (losses)
during the year - net 1,110 (1,086)
Realised gains (losses) during
the year - net (24) -
Total before deferred income tax - (1,086)
Deferred income tax (Note 20) - 206
Balance, end of year - net - (880)
During 2024 and 2023, all placements with other banks were categorised as stage 1, had not
experienced a significant increase in credit risk since initial recognition and had no objective
evidence of impairment. The changes in the allowance for impairment losses on placements
with other banks are as follows:
2024
Stage 1 Stage 2 Stage 3 Total
Balance, beginning of year (684) - - (684)
Net changes in exposure (1,006) - - (1,006)
Foreign exchange difference (22) - - (22)
Balance, end of year (1,712) - - (1,712)
2023
Stage 1 Stage 2 Stage 3 Total
Balance, beginning of year (5,463) - - (5,463)
Net changes in exposure 4,639 - - 4,639
Foreign exchange difference 140 - - 140
Balance, end of year (684) - - (684)
Average effective interest rates (yield) per annum of placements with Bank Indonesia and
other banks were as follows:
2024 2023
Bank Indonesia and call money:
Rupiah 5.77% 5.70%
Foreign currencies 4.43% 4.87%
Time deposits:
Rupiah 5.89% 4.41%
Foreign currencies 3.00% 2.62%
Certificates of deposits:
Rupiah 6.47% 6.24%
594 PT Bank Central Asia Tbk 2024 Annual Report
Page 597
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/50
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
7. PLACEMENTS WITH BANK INDONESIA AND OTHER BANKS (continued)
The range of contractual interest rates of time deposits owned by the Group in Rupiah
currency during the years ended 31 December 2024 and 2023 were 2.00% - 7.55% and 2.00%
- 6.80%, respectively, and for certificates of deposit in Rupiah are 6.53% and 6.53%,
respectively, while time deposits in foreign currencies were 1.00% - 4.85% and 2.00% -
5.09%, respectively.
As of 31 December 2024 and 2023, there were no placements with Bank Indonesia and other
banks which were used as collateral for securities trading transaction.
As of 31 December 2024 and 2023, management believes that the allowance for impairment
losses is adequate to cover possible losses arising from uncollectible placements with Bank
Indonesia and other banks.
Information on the classification and fair value of placements with Bank Indonesia and other
banks is disclosed in Note 37. Information on the maturity of placements with Bank Indonesia
and other banks is disclosed in Note 43.
8. FINANCIAL ASSETS AND LIABILITIES AT FAIR VALUE THROUGH PROFIT OR LOSS
Financial assets and liabilities at fair value through profit or loss consist of:
2024 2023
Nominal value Fair value Nominal value Fair value
Financial assets:
Securities
Sekuritas Rupiah Bank Indonesia 19,397,441 18,448,845 9,842,000 9,556,560
Government bonds 2,023,959 1,977,974 1,086,678 1,101,960
Bank Indonesia Treasury Bills - - 3,485,881 3,474,298
Sukuk 383,904 454,796 51,796 51,082
Corporate bonds 33,000 32,636 12,650 12,656
Mutual Funds 120,237 127,688 119,918 123,033
Investment in shares - 27,072 - 297,442
Others 230,272 234,398 189,354 224,115
22,188,813 21,303,409 14,788,277 14,841,146
Derivative assets
Forward 153,034 91,843
Swap 66,842 121,817
Spot 1,332 3,854
221,208 217,514
21,524,617 15,058,660
Financial liabilities:
Derivative liabilities
Forward 77,894 47,698
Swap 175,087 73,204
Spot 4,611 1,863
Others 21 -
257,613 122,765
2024 Annual Report PT Bank Central Asia Tbk 595
Page 598
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/51
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
8. FINANCIAL ASSETS AND LIABILITIES AT FAIR VALUE THROUGH PROFIT OR LOSS
(continued)
The detail of investment in shares owned by the Group based on counterparties as of
31 December 2024 and 2023 are as follows:
2024 2023
Related parties 8,662 8,642
Third parties 18,410 288,800
Total investment in shares 27,072 297,442
Information on the classification and fair value of financial assets and liabilities measured at
fair value through profit or loss is disclosed in Note 37. Information on the maturity of financial
assets and liabilities measured at fair value through profit or loss is disclosed in Note 43.
9. ACCEPTANCE RECEIVABLES AND PAYABLES
a. The details of acceptance receivables
2024 2023
Rupiah
Non-bank debtors 3,760,887 4,370,505
Other banks 354,020 401,305
4,114,907 4,771,810
Less:
Allowance for impairment losses (78,539) (143,001)
4,036,368 4,628,809
Foreign currencies
Non-bank debtors 5,758,925 9,866,681
Other banks 187,910 304,248
5,946,835 10,170,929
Less:
Allowance for impairment losses (362,156) (140,114)
5,584,679 10,030,815
Total acceptance receivables - net 9,621,047 14,659,624
596 PT Bank Central Asia Tbk 2024 Annual Report
Page 599
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/52
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
9. ACCEPTANCE RECEIVABLES AND PAYABLES (continued)
b. The details of acceptance payables
2024 2023
Rupiah
Non-bank debtors 545,595 601,745
Other banks 775,494 872,788
1,321,089 1,474,533
Foreign currencies
Non-bank debtors 190,996 306,438
Other banks 3,139,870 4,920,285
3,330,866 5,226,723
Total acceptance payables 4,651,955 6,701,256
c. The movement of allowance for impairment losses of acceptance receivables
2024
Stage 1 Stage 2 Stage 3 Total
Balance, beginning of year (77,889) (25,439) (179,787) (283,115)
Transfer to lifetime expected
credit losses (Stage 2) 9,187 (113,409) - (104,222)
Transfer to credit
impaired (Stage 3) 62 3,329 (7,684) (4,293)
Transfer to 12 months expected
credit losses (Stage 1) (150) 25,681 - 25,531
Net changes in exposure 32,419 11,512 (110,040) (66,109)
Foreign exchange difference (1,719) (108) (6,660) (8,487)
Balance, end of year (38,090) (98,434) (304,171) (440,695)
2023
Stage 1 Stage 2 Stage 3 Total
Balance, beginning of year (89,779) (26,245) (199,433) (315,457)
Transfer to lifetime expected
credit losses (Stage 2) 309 (7,185) - (6,876)
Transfer to 12 months expected
credit losses (Stage 1) (27) 55 - 28
Net changes in exposure 10,320 7,821 19,156 37,297
Foreign exchange difference 1,288 115 490 1,893
Balance, end of year (77,889) (25,439) (179,787) (283,115)
Management believes that the allowance for impairment losses provided was adequate to
cover possible losses on uncollectible acceptance receivables.
As of 31 December 2024 and 2023, the Bank did not have balances of acceptance receivables
and payables to and from related parties.
2024 Annual Report PT Bank Central Asia Tbk 597
Page 600
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/53
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
9. ACCEPTANCE RECEIVABLES AND PAYABLES (continued)
Information on the classification and fair value of acceptance receivables and payables
is disclosed in Note 37. Information on the maturity of acceptance receivables and payables
is disclosed in Note 43.
10. BILLS RECEIVABLE
a. The details of bills receivable
2024 2023
Rupiah
Non-bank debtors - 13,153
Other banks 3,497,781 5,237,645
3,497,781 5,250,798
Less:
Allowance for impairment losses (481) (798)
3,497,300 5,250,000
Foreign currencies
Non-bank debtors 640,986 622,915
Other banks 4,756,118 4,514,327
5,397,104 5,137,242
Less:
Allowance for impairment losses (2,635) (3,718)
5,394,469 5,133,524
Total bills receivables - net 8,891,769 10,383,524
b. The movement of allowance for impairment losses of bills receivables
The movement of allowance for impairment losses of bills receivables were as follows:
2024
Stage 1 Stage 2 Stage 3 Total
Balance, beginning of year (4,516) - - (4,516)
Transfer to 12 months expected
credit losses (Stage 1) (75) - - (75)
Net changes in exposure 1,551 - 8 1,559
Foreign exchange difference (76) - (8) (84)
Balance, end of year (3,116) - - (3,116)
598 PT Bank Central Asia Tbk 2024 Annual Report
Page 601
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/54
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
10. BILLS RECEIVABLE (continued)
b. The movement of allowance for impairment losses of bills receivables (continued)
The movement of allowance for impairment losses of bills receivables were as follows:
(continued)
2023
Stage 1 Stage 2 Stage 3 Total
Balance, beginning of year (2,106) - (5,029) (7,135)
Transfer to 12 months expected
credit losses (Stage 1) 3 - - 3
Net changes in exposure (2,634) - 5,163 2,529
Foreign exchange difference 221 - (134) 87
Balance, end of year (4,516) - - (4,516)
Management believes that the allowance for impairment losses provided was adequate to
cover possible losses on uncollectible bills receivables.
As of 31 December 2024 and 2023, the Bank did not have balances of bills receivables to
related parties.
Average effective interest rates (yield) per annum of bills receivable were as follows:
2024 2023
Rupiah 9.11% 11.55%
Foreign currencies 6.09% 5.52%
Information on the classification and fair value of bills receivables is disclosed in Note 37.
Information on the maturity of bills receivables is disclosed in Note 43.
11. SECURITIES PURCHASED UNDER AGREEMENTS TO RESELL
This account represents receivables to Bank Indonesia, other banks and third party for
securities purchased with agreements to resell with details as follows:
2024
Allowance for
Range of Deferred impairment
purchase date Range of sale date Resell price interest income losses Carrying value
Transactions with Bank Indonesia:
Underlying instruments:
Government bonds 28 Nov 24 28 Feb 25 48,312 (503) - 47,809
48,312 (503) - 47,809
Transactions with other banks:
Underlying instruments:
Government bonds 18 - 31 Dec 24 2 - 13 Jan 25 932,726 (860) (91) 931,775
Sekuritas Rupiah Bank Indonesia 16 - 30 Dec 24 13 Jan 25 435,353 (938) - 434,415
1.368.079 (1,798) (91) 1,366,190
Transactions with non-bank:
Underlying instruments:
Shares 3 Oct - 16 Dec 24 3 Jan - 16 Jun 25 38,273 (1,760) (950) 35,563
38,273 (1,760) (950) 35,563
1,454,664 (4,061) (1,041) 1,449,562
2024 Annual Report PT Bank Central Asia Tbk 599
Page 602
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/55
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
11. SECURITIES PURCHASED UNDER AGREEMENTS TO RESELL (continued)
This account represents receivables to Bank Indonesia, other banks and third party for
securities purchased with agreements to resell with details as follows: (continued)
2023
Allowance for
Range of Deferred impairment
purchase date Range of sale date Resell price interest income losses Carrying value
Transactions with Bank Indonesia:
Underlying instruments:
Government bonds 6 Jan - 27 Dec 23 5 Jan - 16 Aug 24 88,093,534 (1,733,855) - 86,359,679
Government Treasury Bills 28 Apr - 29 Dec 23 3 Jan - 2 Aug 24 5,269,636 (2,988,267) - 2,281,369
93,363,170 (4,722,122) - 88,641,048
Transactions with other banks:
Underlying instruments:
Government bonds 6 - 27 Dec 23 3 - 19 Jan 24 3,237,274 (4,312) - 3,232,962
Sekuritas Rupiah Bank Indonesia 6 - 22 Dec 23 4 - 8 Jan 24 1,188,849 (1,122) - 1,187,727
4,426,123 (5,434) - 4,420,689
Transactions with non-bank:
Underlying instruments:
Shares 12 - 29 Dec 23 12 Mar - 28 Jun 24 38,118 (2,704) (998) 34,416
38,118 (2,704) (998) 34,416
97,827,411 (4,730,260) (998) 93,096,153
The movement of allowance for impairment losses on securities purchased under
agreements to resell was as follows:
2024
Stage 1 Stage 2 Stage 3 Total
Balance, beginning of year (998) - - (998)
Net changes in exposure (43) - - (43)
Balance, end of year (1,041) - - (1,041)
2023
Stage 1 Stage 2 Stage 3 Total
Balance, beginning of year (1,299) - - (1,299)
Net changes in exposure 301 - - 301
Balance, end of year (998) - - (998)
Management believes that the allowance for impairment losses provided was adequate to
cover possible losses on uncollectible securities purchased under agreements to resell.
All securities purchased under agreements to resell as of 31 December 2024 and 2023 were
denominated in Rupiah currency.
As of 31 December 2024 and 2023, the Group did not have balances of securities purchased
under agreements to resell with related parties.
Average effective interest rates (yield) per annum of securities purchased under agreements
to resell for the years ended 31 December 2024 and 2023 were 6.33% and 6.35%,
respectively.
Information on the classification and fair value of securities purchased under agreements to
resell is disclosed in Note 37. Information on the maturity of securities purchased under
agreements to resell is disclosed in Note 43.
600 PT Bank Central Asia Tbk 2024 Annual Report
Page 603
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/56
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
12. LOANS RECEIVABLE
Loans receivable consisted of:
a. By type and currency
2024 2023
Rupiah
Related parties:
Working capital 2,784,576 1,827,412
Investment 4,330,825 6,493,055
Consumer 6,031 10,530
7,121,432 8,330,997
Third parties:
Working capital 374,978,288 340,718,796
Investment 295,232,947 234,837,040
Consumer 159,147,765 141,807,967
Credit card 18,222,967 15,783,861
Employee loans 3,212,348 3,145,449
850,794,315 736,293,113
857,915,747 744,624,110
Foreign currencies
Related parties:
Investment 109,077 147,524
Third parties:
Working capital 27,714,957 33,698,753
Investment 15,571,072 13,726,327
43,286,029 47,425,080
43,395,106 47,572,604
Total loans receivable 901,310,853 792,196,714
Less: Allowance for impairment losses
Rupiah (28,799,245) (28,206,052)
Foreign currencies (3,825,398) (5,102,823)
(32,624,643) (33,308,875)
Total loans receivable - net 868,686,210 758,887,839
2024 Annual Report PT Bank Central Asia Tbk 601
Page 604
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/57
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
12. LOANS RECEIVABLE (continued)
Loans receivable consisted of: (continued)
b. By economic sector and collectability
This additional information is required by the applicable regulations and is not mandated
by the Financial Accounting Standards in Indonesia. This additional information is part of
Note 51 to the consolidated financial statements:
2024
Allowance for
Special impairment
Current mention Sub-standard Doubtful Loss losses Total
Rupiah
Manufacturing 164,078,070 3,784,149 122,951 181,169 6,814,046 (10,367,149) 164,613,236
Business services 150,016,582 1,932,084 29,544 98,848 219,464 (4,519,122) 147,777,400
Trading, restaurants
and hotels 171,609,428 2,657,316 409,893 312,635 3,026,112 (7,821,397) 170,193,987
Agriculture and
agricultural facilities 36,053,366 132,730 13,225 13,374 250,876 (840,220) 35,623,351
Construction 38,196,432 183,159 82,933 18,162 113,053 (968,773) 37,624,966
Transportation and warehousing 34,625,603 196,161 5,838 8,073 39,480 (541,705) 34,333,450
Social/public services 10,481,970 121,748 9,201 23,315 22,922 (214,832) 10,444,324
Mining 19,188,010 130,963 1,970 - 28,833 (295,902) 19,053,874
Electricity, gas, and water 32,067,155 11,022 3,319 1,835 9,427 (278,121) 31,814,637
Household activities 153,645,837 6,393,586 411,758 506,996 1,821,509 (2,474,243) 160,305,443
Others 16,608,703 995,792 49,038 83,605 72,477 (477,781) 17,331,834
826,571,156 16,538,710 1,139,670 1,248,012 12,418,199 (28,799,245) 829,116,502
Foreign currencies
Manufacturing 20,546,482 1,020,940 - - 772,182 (1,873,706) 20,465,898
Business services 2,357,013 - - - - (41,240) 2,315,773
Trading, restaurants
and hotels 4,903,904 1,059,735 - - - (1,780,502) 4,183,137
Agriculture and
agricultural facilities 1,696,207 - - - - (17,675) 1,678,532
Construction 4,878 - - - - - 4,878
Transportation and warehousing 2,966,830 - - - - (53,809) 2,913,021
Social/public services 30,429 - - - - (207) 30,222
Mining 7,270,810 - - - - (46,915) 7,223,895
Electricity, gas, and water 765,696 - - - - (11,344) 754,352
40,542,249 2,080,675 - - 772,182 (3,825,398) 39,569,708
Total 867,113,405 18,619,385 1,139,670 1,248,012 13,190,381 (32,624,643) 868,686,210
2023
Allowance for
Special impairment
Current mention Sub-standard Doubtful Loss losses Total
Rupiah
Manufacturing 147,054,171 3,346,022 1,389,254 223,865 2,850,710 (8,648,573) 146,215,449
Business services 131,719,461 2,483,034 25,329 22,944 126,194 (5,644,536) 128,732,426
Trading, restaurants
and hotels 158,487,639 3,025,986 343,151 378,470 2,263,191 (7,501,129) 156,997,308
Agriculture and
agricultural facilities 30,681,430 155,371 3,248 87,453 119,930 (931,105) 30,116,327
Construction 33,994,897 303,115 25,292 79,823 142,185 (828,537) 33,716,775
Transportation and warehousing 24,993,376 90,244 246,557 3,352 13,171 (667,021) 24,679,679
Social/public services 11,174,243 110,908 9,808 19,968 11,594 (1,087,268) 10,239,253
Mining 12,802,808 16,354 - 31 1,684 (152,904) 12,667,973
Electricity, gas, and water 15,026,015 11,648 234 6,627 5,056 (139,250) 14,910,330
Household activities 136,976,779 5,810,519 333,320 361,498 1,480,710 (2,196,613) 142,766,213
Others 14,826,201 812,364 33,389 56,841 56,646 (409,116) 15,376,325
717,737,020 16,165,565 2,409,582 1,240,872 7,071,071 (28,206,052) 716,418,058
Foreign currencies
Manufacturing 23,881,384 381,987 - - 3,455,165 (3,671,047) 24,047,489
Business services 2,796,647 - - - - (68,229) 2,728,418
Trading, restaurants
and hotels 6,269,049 322,417 - - 21,645 (1,251,454) 5,361,657
Agriculture and
agricultural facilities 4,092,181 - - - - (28,851) 4,063,330
Construction 3,457 - - - - - 3,457
Transportation and warehousing 2,800,131 - - - - (57,943) 2,742,188
Social/public services 18,355 - - - - (185) 18,170
Mining 2,612,974 - - - - (9,729) 2,603,245
Electricity, gas, and water 917,212 - - - - (15,385) 901,827
43,391,390 704,404 - - 3,476,810 (5,102,823) 42,469,781
Total 761,128,410 16,869,969 2,409,582 1,240,872 10,547,881 (33,308,875) 758,887,839
602 PT Bank Central Asia Tbk 2024 Annual Report
Page 605
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/58
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
12. LOANS RECEIVABLE (continued)
Loans receivable consisted of: (continued)
c. By maturity period
Loans receivable by maturity period based on loan agreements:
2024 2023
Rupiah
Up to 1 year 268,579,074 236,808,450
> 1 - 5 years 186,315,071 172,355,082
> 5 years 403,021,602 335,460,578
857,915,747 744,624,110
Foreign currencies
Up to 1 year 16,573,059 23,276,365
> 1 - 5 years 11,981,182 9,467,615
> 5 years 14,840,865 14,828,624
43,395,106 47,572,604
Total loans receivable 901,310,853 792,196,714
Less:
Allowance for impairment losses (32,624,643) (33,308,875)
Total loans receivable - net 868,686,210 758,887,839
d. By staging
Below is movement of loans based on stages during the years ended 31 December 2024
and 2023:
2024
Stage 1 Stage 2 Stage 3 Total
Balance, beginning of year 757,146,891 20,089,525 14,960,298 792,196,714
Transfer to lifetime expected credit
losses (Stage 2) (24,386,823) 26,065,000 (1,745,561) (67,384)
Transfer to credit
impaired (Stage 3) (725,285) (12,634,512) 12,688,630 (671,167)
Transfer to 12 months expected
credit losses (Stage 1) 11,067,999 (10,201,732) (1,473,483) (607,216)
Net changes in exposure 119,944,609 (3,185,859) (4,668,915) 112,089,835
Written-off during the year - - (3,564,430) (3,564,430)
Foreign exchange difference 1,701,931 123,483 109,087 1,934,501
Balance, end of year 864,749,322 20,255,905 16,305,626 901,310,853
2023
Stage 1 Stage 2 Stage 3 Total
Balance, beginning of year 659,148,954 23,910,392 11,877,176 694,936,522
Transfer to lifetime expected credit
losses (Stage 2) (20,084,971) 22,751,516 (2,751,902) (85,357)
Transfer to credit
impaired (Stage 3) (1,427,035) (13,177,663) 14,539,732 (64,966)
Transfer to 12 months expected
credit losses (Stage 1) 12,880,798 (11,686,164) (1,685,407) (490,773)
Net changes in exposure 107,269,477 (1,709,758) (4,454,015) 101,105,704
Written-off during the year - - (2,500,255) (2,500,255)
Foreign exchange difference (640,332) 1,202 (65,031) (704,161)
Balance, end of year 757,146,891 20,089,525 14,960,298 792,196,714
2024 Annual Report PT Bank Central Asia Tbk 603
Page 606
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/59
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
12. LOANS RECEIVABLE (continued)
Loans receivable consisted of: (continued)
e. Syndicated loans
Syndicated loans represent loans provided to debtors under syndication agreements
with other banks. Syndicated loans with risk sharing participation to the Bank’s financing
were as follows:
2024 2023
Bank's participation as participant, ranged between
2.00% - 81.49% and 2.87% - 71.00% respectively,
for the years ended 31 December 2024 and 2023,
with outstanding balance of Rp 35,632,219 and
USD 531,931,204 (full amount) as of
31 December 2024 (2023: Rp 30,734,037 and
USD 459,092,868 (full amount)) 44,193,652 37,802,690
Bank's participation as arranger, ranged between
10.00% - 75.00% and 9.95% - 75.00% respectively,
for the years ended 31 December 2024 and 2023,
with outstanding balance of Rp 41,979,477 and
USD 143,021,571 (full amount) as of
31 December 2024 (2023: Rp 27,121,490 and
USD 43,895,806 (full amount)) 44,281,409 27,797,353
88,475,061 65,600,043
f. Restructured loans
In accordance with No.17/POJK.03/2021 dated 10 September 2021 regarding the second
amendment of the impact of the COVID-19 pandemic which replaced by OJK Press
Release No. SP.85/DHMS/OJK/XI.2022 dated 28 November 2022 regarding extension of
targeted and sectoral credit and financing restructuring policies due to the continued
impact of the Covid pandemic, the Bank has carried out credit restructuring for debtors
affected by COVID-19 and also identified as well as monitored the debtor's condition on
an ongoing basis. The credit and financing restructuring policies as stated above has
ended on 31 March 2024.
The amount of restructured loans by the Bank as of 31 December 2024 and 2023
amounting to Rp 28,786,602 and Rp 40,581,823, respectively. Credit restructuring carried
out by modifying the facility structure and credit terms, including lowering credit interest
rates, extending credit terms, and others.
604 PT Bank Central Asia Tbk 2024 Annual Report
Page 607
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/60
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
12. LOANS RECEIVABLE (continued)
Loans receivable consisted of: (continued)
f. Restructured loans (continued)
This additional information is required by the applicable regulations and is not mandated
by the Financial Accounting Standards in Indonesia. This additional information is part of
Note 51 to the consolidated financial statements:
2024 2023
Current 11,897,353 21,392,020
Special mention 6,860,802 8,486,902
Sub-standard 386,834 1,727,384
Doubtful 221,515 442,858
Loss 9,420,098 8,532,659
28,786,602 40,581,823
Total restructured loans and under non-performing loan (“NPL”) category as of 31
December 2024 and 2023 are amounting to Rp 10,028,447 and Rp 10,702,901,
respectively.
g. The movement of allowance for impairment losses on loans receivable
2024
Stage 1 Stage 2 Stage 3 Total
Balance, beginning of year (12,733,822) (10,303,493) (10,271,560) (33,308,875)
Transfer to lifetime expected credit
losses (Stage 2) 1,793,010 (5,834,839) 686,359 (3,355,470)
Transfer to credit
impaired (Stage 3) 94,436 3,422,967 (4,883,438) (1,366,035)
Transfer to 12 months expected
credit losses (Stage 1) (635,109) 1,754,524 412,258 1,531,673
Net changes in exposure (288,416) 1,226,107 (434,669) 503,022
Written-off during the year - - 3,564,430 3,564,430
Foreign exchange difference (32,977) (72,785) (87,626) (193,388)
Balance, end of year (11,802,878) (9,807,519) (11,014,246) (32,624,643)
2023
Stage 1 Stage 2 Stage 3 Total
Balance, beginning of year (12,899,997) (13,279,002) (7,768,519) (33,947,518)
Transfer to lifetime expected credit
losses (Stage 2) 1,444,978 (4,816,902) 1,302,571 (2,069,353)
Transfer to credit
impaired (Stage 3) 284,632 5,259,724 (6,793,830) (1,249,474)
Transfer to 12 months expected
credit losses (Stage 1) (1,633,602) 2,877,287 575,332 1,819,017
Net changes in exposure 64,144 (337,964) (136,509) (410,329)
Written-off during the year - - 2,500,255 2,500,255
Foreign exchange difference 6,023 (6,636) 49,140 48,527
Balance, end of year (12,733,822) (10,303,493) (10,271,560) (33,308,875)
Management believes that allowance for impairment losses provided was adequate to
cover possible losses on uncollectible loans receivable.
2024 Annual Report PT Bank Central Asia Tbk 605
Page 608
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/61
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
12. LOANS RECEIVABLE (continued)
Loans receivable consisted of: (continued)
g. The movement of allowance for impairment losses on loans receivable (continued)
As of 31 December 2024 and 2023, allowance for impairment losses on loans receivable
to related parties amounting to Rp 56,052 and Rp 71,862, respectively.
h. Joint financing
The Bank entered into joint financing agreements with PT BCA Finance (previously with
PT BCA Finance and PT BCA Multi Finance), the Subsidiary, for financing the purchase
of vehicles. All risks from the loss arising from these joint financing facilities will be borne
proportionally by both parties based on respective financing participation (without
recourse). The Bank’s portion of outstanding balance of joint financing receivable facilities
as of 31 December 2024 and 2023 were Rp 54,623,153 and Rp 46,927,073, respectively.
i. The carrying amount of loans receivable are as follows:
2024 2023
Loans receivable 901,310,853 792,196,714
Accrued interest income 3,343,491 2,732,906
Allowance for impairment losses (Note 12g) (32,624,643) (33,308,875)
872,029,701 761,620,745
j. Other significant information relating to loans receivable
As of 31 December 2024 and 2023, the Bank had no loans receivable which were pledged
as collaterals.
Demand deposits, saving and time deposits pledged as collateral for loans
receivable amounting to Rp 18,465,132 and Rp 17,626,804, respectively, as of
31 December 2024 and 2023 (Note 19).
Employee loans are loans given to Bank’s employees with interest rate at 4% per annum
for housing loans, motor vehicle loans, and loans for other purposes and the terms
between 8 years to 20 years, specifically for the period 2022 - 2026 the Bank provides
relief to employees with an interest rate of 3.5% per year. Repayment of principal and
interest which will be effected through monthly salary deductions. The difference between
the rate and market rate will be recognised as subsidy and recorded as other assets, also
amortised over the life of the loans.
606 PT Bank Central Asia Tbk 2024 Annual Report
Page 609
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/62
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
12. LOANS RECEIVABLE (continued)
Loans receivable consisted of: (continued)
j. Other significant information relating to loans receivable (continued)
Average effective interest rates (yield) per annum of loans receivable were as follows:
2024 2023
Rupiah 7.68% 7.63%
Foreign currencies 5.85% 5.54%
Information regarding the ratio of small enterprises loans to total loans receivable provided
by the Bank and the non-performing loan ("NPL") ratio is disclosed in Note 51.
Information on the classification and fair value of loans receivable is disclosed in Note 37.
Information on the details of loans receivable by geographic region is disclosed in Note
41. Information on the maturity of loan receivables is disclosed in Note 43.
13. CONSUMER FINANCING RECEIVABLES
The Subsidiary’s amortised cost of consumer financing receivables were as follows:
2024 2023
Consumer financing receivables
- Self-financing by Subsidiaries 5,642,551 5,735,549
- Share in joint financing with related party
without recourse 11,067,888 9,770,331
Unamortised administration income - net (514,472) (539,183)
Unearned consumer financing income (6,397,119) (5,925,301)
Consumer financing receivables, before allowance
for impairment losses 9,798,848 9,041,396
Less:
Allowance for impairment losses (363,284) (327,946)
Total consumer financing receivables - net 9,435,564 8,713,450
2024 Annual Report PT Bank Central Asia Tbk 607
Page 610
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/63
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
13. CONSUMER FINANCING RECEIVABLES (continued)
Contractual interest rates per annum for consumer financing during 2024 and 2023 were
3.62% - 49.98% and 3.53% - 50.56%, respectively.
The Subsidiary’s provide consumer financing contracts for 4 (four) wheels motor vehicles with
terms ranging from 3 (three) months to 6 (six) years, while consumer financing contracts for
2 (two) wheels motor vehicles ranging from 1 (one) year to 4 (four) years.
The movement in the allowance for impairment losses on consumer financing receivables
was as follows:
2024
Stage 1 Stage 2 Stage 3 Total
Balance, beginning of year (170,906) (17,819) (139,221) (327,946)
Net changes in exposure 43,188 (1,041) (395,649) (353,502)
Written-off during the year - - 318,164 318,164
Balance, end of year (127,718) (18,860) (216,706) (363,284)
2023
Stage 1 Stage 2 Stage 3 Total
Balance, beginning of year (250,892) (31,578) (127,759) (410,229)
Net changes in exposure 79,986 13,759 (266,693) (172,948)
Written-off during the year - - 255,231 255,231
Balance, end of year (170,906) (17,819) (139,221) (327,946)
The collection of consumer financing receivables previously written-off amounting to
Rp 25,843 and Rp 33,176 for the years ended 31 December 2024 and 2023, respectively.
Written-off consumer financing receivables were receivables which overdue for more than
150 (one hundred and fifty) days for 4 (four) wheels motor vehicles and more than 180 (one
hundred and eighty) days for 2 (two) wheels motor vehicles. The write-offs are executed
based on management case by case assessment.
As of 31 December 2024 and 2023 consumer financing receivables, before deduction of
unearned income, amounting to Rp nil and Rp 265,734, respectively, were pledged as
collateral to borrowings (Note 21).
The consumer financing receivables are secured by the related certificates of ownership
(“BPKB”) of the vehicles financed by the Subsidiary.
Management believes that the allowance for impairment losses is adequate to cover possible
losses arising from uncollectible consumer financing receivables.
608 PT Bank Central Asia Tbk 2024 Annual Report
Page 611
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/64
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
13. CONSUMER FINANCING RECEIVABLES (continued)
Information on the classification and fair value of consumer financing receivables is disclosed
in Note 37. Information on the maturity of consumer financing receivables is disclosed in Note
43.
14. INVESTMENT SECURITIES
The details of investment securities by type and currency as of 31 December 2024 and 2023
were as follows:
2024
Unamortised Allowance for
premium Unrealised impairment
Description Nominal amount (discount) gain (loss) losses Carrying value
Rupiah
Measured at amortised cost:
Government bonds,
- recapitalisation 1,930,915 18,519 - - 1,949,434
- non-recapitalisation 120,775,680 1,522,191 - - 122,297,871
Sukuk 52,876,003 (668,597) - (75) 52,207,331
Mutual fund units 300,000 - - (3,000) 297,000
Corporate bonds 6,877,539 884 - (44,814) 6,833,609
Medium-term notes 3,000,000 - - (619) 2,999,381
Money market instruments 775,000 - - (7,750) 767,250
Sekuritas Rupiah Bank Indonesia 80,123,326 (2,953,300) - - 77,170,026
Others 13,433 (5,002) - - 8,431
Measured at fair value
through other
comprehensive income:
Government bonds,
- non-recapitalisation 39,868,912 570,582 281,198 - 40,720,692
Sukuk of Bank Indonesia 1,035,278 - 15,474 - 1,050,752
Sukuk 18,340,338 (299,609) 33,749 (21,316) 18,053,162
Mutual fund units 14,062,049 - 310,914 (12,538) 14,360,425
Corporate bonds 22,740,537 - (264,785) (357,097) 22,118,655
Investment in shares 645,752 - - (105,260) 540,492
Sekuritas Rupiah Bank Indonesia 138,791 (6,799) (531) - 131,461
363,503,553 (1,821,131) 376,019 (552,469) 361,505,972
Foreign currencies
Measured at amortised cost:
Government bonds,
- non-recapitalisation 2,474,705 5,999 - - 2,480,704
T-Bond USA 1,287,600 (3,077) - (97) 1,284,426
Corporate bonds 2,893,076 53,572 - - 2,946,648
Sukuk 997,890 (8,275) - - 989,615
Measured at fair value
through other
comprehensive income:
Government bonds,
- non-recapitalisation 434,565 33 (1,858) - 432,740
Sukuk 1,529,025 (3,351) (13,822) - 1,511,852
9,616,861 44,901 (15,680) (97) 9,645,985
Total investment
securities 373,120,414 (1,776,230) 360,339 (552,566) 371,151,957
2024 Annual Report PT Bank Central Asia Tbk 609
Page 612
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/65
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
14. INVESTMENT SECURITIES (continued)
The details of investment securities by type and currency as of 31 December 2024 and 2023
were as follows: (continued)
2023
Unamortised Allowance for
premium Unrealised impairment
Description Nominal amount (discount) gains (losses) losses Carrying value
Rupiah
Measured at amortised cost:
Government bonds,
- recapitalisation 2,614,600 27,643 - - 2,642,243
- non-recapitalisation 100,125,166 1,873,069 - - 101,998,235
Sukuk 45,009,102 (301,846) - (108) 44,707,148
Mutual fund units 62,000 - - (620) 61,380
Corporate bonds 8,863,539 1,093 - (54,050) 8,810,582
Medium-term notes 5,050,000 - - (1,857) 5,048,143
Sekuritas Rupiah Bank Indonesia 32,500,000 (1,446,612) - - 31,053,388
Others 11,389 - - - 11,389
Measured at fair value
through other
comprehensive income:
Government bonds,
- non-recapitalisation 44,873,694 822,747 954,328 - 46,650,769
Sukuk of Bank Indonesia 1,311,470 - 6,324 - 1,317,794
Sukuk 29,074,575 (405,407) 250,283 (43,946) 28,875,505
Mutual fund units 12,398,000 - 151,548 (14,637) 12,534,911
Corporate bonds 18,403,094 (75,000) (156,056) (323,637) 17,848,401
Medium-term notes 200,000 - (1,340) (870) 197,790
Investment in shares 556,359 - - (104,366) 451,993
301,052,988 495,687 1,205,087 (544,091) 302,209,671
Foreign currencies
Measured at amortised cost:
Government bonds,
- non-recapitalisation 2,629,847 34,470 - (77) 2,664,240
T-Bond USA 1,431,921 (11,528) - (300) 1,420,093
Corporate bonds 30,800 86 - (12) 30,874
Sukuk 3,137,370 121,462 - - 3,258,832
Measured at fair value
through other
comprehensive income:
Government bonds,
- non-recapitalisation 538,895 1,173 (6,415) - 533,653
Sukuk 1,955,419 (3,811) (15,347) - 1,936,261
9,724,252 141,852 (21,762) (389) 9,843,953
Total investment
securities 310,777,240 637,539 1,183,325 (544,480) 312,053,624
As of 31 December 2024, investment securities included government bonds and Sekuritas
Rupiah Bank Indonesia with a carrying value of Rp 936,754 (par value of Rp 900,000) and Rp
285,505, respectively, according to the agreement, The Bank must buy back the government
bonds on 2 January 2025 and 6 January 2025, also on 13 January 2025 for the Sekuritas
Rupiah Bank Indonesia. Total liabilities at carrying amount (“securities sold under agreements
to repurchase”) in the consolidated statement of financial position amounted to Rp 1,330,996
as of 31 December 2024.
As of 31 December 2023, investment securities included government bonds with a carrying
value of Rp 1,117,220 (par value of Rp 1,092,402), according to the agreement, The Bank
must buy back the government bonds on 15 August 2028 and 12 February 2029. Total
liabilities at carrying amount (“securities sold under agreements to repurchase”) in the
consolidated statement of financial position amounted to Rp 1,054,780 as of 31 December
2023.
610 PT Bank Central Asia Tbk 2024 Annual Report
Page 613
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/66
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
14. INVESTMENT SECURITIES (continued)
The details of investment in mutual funds owned by the Group which are classified by name
and total units owned as of 31 December 2024 and 2023 are as follows:
2024 2023
Total Carrying Total Carrying
Investment in mutual funds units amount units amount
Reksa Dana Terproteksi Syailendra Capital
Protected Fund 54 500 551.411 500 522.989
Reksa Dana Batavia Dana Kas Gebyar 137 528.923 137 501.688
Reksa Dana Tram Pundi Kas 2 350 528.250 350 501.055
Reksa Dana Terproteksi Trimegah Terproteksi
Dana Berkala 11 500 517.211 500 515.791
Reksa Dana Terproteksi Ashmore Dana
Terproteksi Nusantara IV 500 515.943 500 501.620
Reksa Dana Terproteksi Bahana Centrum
Protected Fund 232 500 514.010 500 512.745
Reksa Dana Terproteksi Bahana Centrum
Protected Fund 233 500 513.878 500 511.863
Reksa Dana Terproteksi Batavia Proteksi
Maxima 50 500 513.715 500 506.204
Reksa Dana Terproteksi Schroder IDR Income
Plan VII 500 513.497 500 501.579
Reksa Dana Terproteksi Mandiri Investa 2 500 511.401 500 510.344
Reksa Dana Terproteksi Batavia Proteksi
Maxima 51 500 510.296 500 509.550
Reksa Dana Terproteksi Panin Proteksi 2031 500 510.130 500 508.710
Reksa Dana Terproteksi BNI-AM Proteksi
Amarilis 500 509.826 500 508.453
Reksa Dana Terproteksi Eastspring Bakti
Proteksi 1 500 509.665 500 504.740
Reksa Dana Terproteksi Danareksa Proteksi 90 500 507.718 500 503.397
Reksa Dana Terproteksi Bahana Centrum
Protected Fund 227 500 506.898 500 506.569
Reksa Dana Terproteksi Trimegah Dana Berkala
12 500 506.585 500 503.483
Reksa Dana Terproteksi Premier Proteksi XII 500 506.158 500 501.113
Reksa Dana Terproteksi Allianz Capital Protected
Fund 62 500 506.140 500 501.117
Reksa Dana Terproteksi Danareksa Proteksi 85 500 505.896 500 504.421
Reksa Dana Terproteksi BNI-AM Proteksi
Kamelia 500 505.233 500 504.953
Reksa Dana Terproteksi Mandiri Investa 3 499 503.893 500 503.554
Reksa Dana Terproteksi Manulife Proteksi Dana
Utama VI 500 503.458 500 503.121
Reksa Dana Terproteksi BRI MI Proteksi 103 500 502.991 - -
Reksa Dana Terproteksi Panin Proteksi 2038 500 502.968 - -
Reksa Dana Terproteksi Manulife Proteksi Dana
Utama VII 500 502.225 - -
Reksa Dana Terproteksi Trimegah Dana Berkala
16 250 252.424 - -
Reksa Dana BNP Paribas Obligasi Berlian 222 223.828 222 229.967
Reksa Dana Terproteksi BNP Paribas Lumina
Proteksi Rupiah 200 203.454 200 200.425
Reksa Dana Syariah Trimegah Kas Syariah 105 150.146 111 150.168
Reksa Dana Syariah Penyertaan Terbatas PNM
Pembiayaan Mikro BUMN Seri XII 100 100.000 - -
Reksa Dana Syariah Penyertaan Terbatas PNM
Pembiayaan Mikro BUMN Seri XIII 100 100.000 - -
Reksa Dana Syariah Penyertaan Terbatas PNM
Pembiayaan Mikro BUMN Seri XIV 100 100.000 - -
Reksa Dana Bahana ABF Indonesia Bond Index
Fund 1 69.785 - -
Reksa Dana Terproteksi Allianz Capital Protected
Fund 65 65 66.032 - -
Reksa Dana Syariah Majoris Pasar Uang Syariah
Indonesia 18 25.025 19 25.028
Reksa Dana Eastspring Syariah Fixed Income
Amanah Kelas A 7 10.322 7 10.102
2024 Annual Report PT Bank Central Asia Tbk 611
Page 614
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/67
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
14. INVESTMENT SECURITIES (continued)
The detail of investment in mutual funds which owned by the Group which are classified by
name and total units owned as of 31 December 2024 and 2023 are as follows: (continued)
2024 2023
Total Carrying Total Carrying
Investment in mutual funds (continued) units amount units amount
Reksa Dana Syailendra Pendapatan Tetap
Premium 6 10.319 6 10.217
Reksa Dana BNP Paribas Prima II 9 10.232 9 10.245
Reksa Dana Schroder Prestasi Gebyar Indonesia
II 3 10.232 3 10.285
Reksa Dana Sucorinvest Sharia Sukuk Fund 8 10.007 - -
Reksa Dana Bahana Pendapatan Tetap Makara
Prima Kelas I 9 10.005 - -
Reksa Dana BNP Paribas Sri Kehati 9 9.686 - -
Reksa Dana Syariah Majoris Sukuk Negara
Indonesia 2 3.117 2 3.197
Reksa Dana Syariah Syailendra Money Market
Fund - - 74 100.092
Reksa Dana Syariah Pasar Uang PNM Falah 2 - - 43 50.134
Reksa Dana Syariah Trimegah Kas Syariah 2 - - 50 50.009
Reksa Dana Syariah Penyertaan Terbatas PNM
Pembiayaan Mikro BUMN Seri VI - - 50 50.000
Reksa Dana Syariah Penyertaan Terbatas PNM
Pembiayaan Mikro BUMN Seri XI - - 12 12.000
Reksa Dana Pendapatan Tetap Sucorinvest
Stable Fund - - 8 10.130
Reksa Dana Sucorinvest Money Market Fund - - 6 10.128
Reksa Dana Bahana MES Syariah Fund Kelas G - - 7 10.125
Reksa Dana Syailendra Dana Kas - - 6 10.125
Reksa Dana Bahana Dana Likuid - - 6 10.112
14,672,963 12,611,548
Less:
Allowance for impairment losses (15,538) (15,257)
Total investment in mutual funds - net 14,657,425 12,596,291
The detail of investment in shares owned by the Group as of 31 December 2024 and 2023
are as follows:
a. Based on counterparties:
2024 2023
Related parties 8,471 8,471
Third parties 637,281 547,888
Total investment in shares 645,752 556,359
Less: Allowance for impairment losses (105,260) (104,366)
Total investment in shares - net 540,492 451,993
612 PT Bank Central Asia Tbk 2024 Annual Report
Page 615
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/68
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
14. INVESTMENT SECURITIES (continued)
The detail of investment in shares owned by the Group as of 31 December 2024 and 2023
are as follows: (continued)
b. Based on nature of business and percentage of ownership:
2024 2023
Nature of Percentage of Carrying Percentage of Carrying
Company Name business ownership amount ownership amount
- PT Bank SMBC Indonesia Tbk (Previously
PT Bank BTPN Tbk) Banking 1.03% 366,478 1.02% 297,085
- PT Bank HSBC Indonesia Banking 1.06% 184,025 1.06% 184,025
- PT Bank DBS Indonesia Banking 1.00% 56,400 1.00% 56,400
- PT Digital Otomotif Indonesia Marketplace 20.00% 8,471 20.00% 8,471
- PT Kliring Penjaminan Indonesia (“KPEI”) Capital Market 1.00% 20,000 - -
- Others (respectively
under Rp 8,000) Various 0.06% - 13.49% 10,378 0.06% - 13.49% 10,378
Total investment in shares 645,752 556,359
Less: Allowance for impairment losses (105,260) (104,366)
Total investment in shares - net 540,492 451,993
c. Based on Staging:
2024 2023
Stage 1 643,982 554,589
Stage 3 1,770 1,770
Total investment in shares 645,752 556,359
Less: Allowance for impairment losses (105,260) (104,366)
Total investment in shares - net 540,492 451,993
The average effective interest rates (yield) per annum for investment securities were as
follows:
2024 2023
Foreign Foreign
Rupiah (%) currencies (%) Rupiah (%) currencies (%)
Measured at amortised cost:
Government bonds 6.34 3.65 6.12 3.36
T-bond USA - 4.22 - 3.77
Sukuk 6.19 1.46 5.82 1.27
Corporate bonds 8.04 - 7.85 3.07
Medium-term notes 6.85 - 6.85 -
Sekuritas Rupiah Bank Indonesia 6.76 - 6.18 -
Sekuritas Valas Bank Indonesia - 5.50 - -
Others 7.26 - 10.37 -
Measured at fair value through
other comprehensive income:
Government bonds 7.16 3.87 7.17 4.44
Medium-term notes - - 6.16 -
Sukuk Bank Indonesia 7.24 - 6.63 -
Sukuk 7.13 4.29 7.25 4.26
Corporate bonds 7.81 - 7.90 -
Sekuritas Rupiah Bank Indonesia 7.46 - - -
2024 Annual Report PT Bank Central Asia Tbk 613
Page 616
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/69
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
14. INVESTMENT SECURITIES (continued)
The movement of allowance for impairment losses of investment securities for the years
ended 31 December 2024 and 2023 was as follows:
2024
Stage 1 Stage 2 Stage 3 Total
Balance, beginning of year (442,710) - (101,770) (544,480)
Net changes in exposure (8,070) - - (8,070)
Foreign exchange difference (16) - - (16)
Balance, end of year (450,796) - (101,770) (552,566)
2023
Stage 1 Stage 2 Stage 3 Total
Balance, beginning of year (175,847) - (114,970) (290,817)
Net changes in exposure (266,874) - 13,200 (253,674)
Foreign exchange difference 11 - - 11
Balance, end of year (442,710) - (101,770) (544,480)
Management believes that the balance of allowance for impairment losses provided was
adequate to cover possible losses on uncollectible investment securities.
The movement of unrealised gains (losses) from the change in fair value of investment
securities at fair value through other comprehensive income was as follows:
2024
Foreign
Rupiah currencies Total
Balance, beginning of year - before deferred income tax 1,193,549 (21,762) 1,171,787
Addition of unrealised gains (losses)
during the year - net (881,245) 1,774 (879,471)
Realised gains (losses) during the year - net 41,304 4,754 46,058
Foreign exchange difference - (447) (447)
Total before deferred income tax 353,608 (15,681) 337,927
Deferred income tax (Note 20) (64,713)
Balance, end of year - net 273,214
2023
Foreign
Rupiah currencies Total
Balance, beginning of year - before deferred income tax 2,279,960 (26,782) 2,253,178
Addition of unrealised gains (losses)
during the year - net (1,127,543) (7,418) (1,134,961)
Realised gains (losses) during the year - net 41,132 12,266 53,398
Foreign exchange difference - 172 172
Total before deferred income tax 1,193,549 (21,762) 1,171,787
Deferred income tax (Note 20) (222,280)
Balance, end of year - net 949,507
614 PT Bank Central Asia Tbk 2024 Annual Report
Page 617
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/70
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
14. INVESTMENT SECURITIES (continued)
The following table represents the summary of ratings and investment securities ratings
owned by the Bank as of 31 December 2024 and 2023:
2024 2023
Rating Rating Agency Rating Rating Agency
Indonesian Government BBB Fitch BBB Fitch
United States of America Government AAA Fitch AAA Fitch
PT Astra Sedaya Finance AAA Pefindo AAA Pefindo
PT Bank Mandiri (Persero) Tbk AAA Pefindo AAA Pefindo
PT Bank Mandiri Taspen AA Fitch AA Fitch
PT Bank Negara Indonesia (Persero) Tbk AAA Pefindo AAA Pefindo
PT Bank Pan Indonesia Tbk AA Pefindo - -
PT Bank Pembangunan Daerah Sulawesi
Selatan dan Sulawesi Barat A+ Pefindo A+ Pefindo
PT Bank Rakyat Indonesia (Persero) Tbk AAA Pefindo AAA Pefindo
PT Bank SMBC Indonesia Tbk AAA Pefindo - -
PT Bank SulutGo A Fitch A Fitch
PT Barito Pacific Tbk A+ Pefindo A+ Pefindo
PT BFI Finance Indonesia Tbk AA- Fitch AA- Fitch
PT BRI Multifinance Indonesia AA Pefindo AA Pefindo
PT Bukit Makmur Mandiri Utama A+ Pefindo - -
PT Bussan Auto Finance AAA Pefindo AAA Pefindo
PT Chandra Asri Pacific Tbk
(previously PT Chandra Asri
Petrochemical Tbk) AA- Pefindo AA- Pefindo
PT Dayamitra Telekomunikasi Tbk - - AAA Pefindo
PT Dharma Satya Nusantara Tbk A Pefindo A Pefindo
PT Dian Swastatika Sentosa Tbk A Pefindo - -
PT Federal Internasional Finance AAA Pefindo AAA Pefindo
PT Indah Kiat Pulp & Paper Tbk A+ Pefindo A Pefindo
PT Indonesia Infrastructure Finance AAA Pefindo AAA Pefindo
PT Indosat Tbk AAA Pefindo AAA Pefindo
PT JACCS Mitra Pinasthika Mustika Finance
Indonesia Tbk AA Fitch AA Fitch
PT Kereta Api Indonesia (Persero) AAA Pefindo AAA Pefindo
PT Lautan Luas Tbk A Pefindo A Pefindo
PT Lontar Papyrus Pulp and Paper Industry A Pefindo A Pefindo
PT Mandiri Tunas Finance AAA Pefindo AAA Pefindo
PT Mayora Indah Tbk AA Pefindo AA Pefindo
PT Medco Energi International Tbk AA- Pefindo - -
PT Merdeka Battery Materials Tbk A Pefindo - -
PT Merdeka Copper Gold Tbk A+ Pefindo A+ Pefindo
PT Oki Pulp & Paper Mills A+ Pefindo A+ Pefindo
PT Omni Inovasi Indonesia Tbk
(previously PT Tiphone
Mobile Indonesia Tbk) D Fitch D Fitch
PT Oto Multiartha AAA Pefindo AA+ Pefindo
PT Pegadaian AAA Pefindo AAA Pefindo
PT Pembangunan Jaya Ancol Tbk - - A+ Pefindo
PT Permodalan Nasional Madani AA+ Pefindo AA+ Pefindo
PT Petrosea Tbk A+ Pefindo - -
PT Pos Indonesia (Persero) A Fitch A- Fitch
PT Profesional Telekomunikasi Indonesia AAA Fitch AAA Fitch
PT Pupuk Indonesia (Persero) AAA Pefindo AAA Fitch
PT Sarana Multi Infrastruktur (Persero) AAA Pefindo AAA Pefindo
PT Sarana Multigriya Finansial (Persero) AAA Pefindo AAA Pefindo
PT Semen Indonesia Tbk - - AA+ Pefindo
PT Sinar Mas Agro Resources and
Technology Tbk AA- Pefindo AA- Pefindo
PT Steel Pipe Industry of Indonesia Tbk A Pefindo A Pefindo
PT Summarecon Agung Tbk A+ Pefindo - -
PT Surya Artha Nusantara Finance AA Pefindo AA Pefindo
PT Tamaris Hidro AAA Pefindo AAA Pefindo
PT Tower Bersama Infrastructure Tbk AA+ Fitch AA+ Fitch
PT Toyota Astra Financial Services AAA Fitch AAA Fitch
PT Tunas Baru Lampung Tbk - - A Fitch
PT XL Axiata Tbk AAA Fitch AAA Fitch
2024 Annual Report PT Bank Central Asia Tbk 615
Page 618
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/71
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
14. INVESTMENT SECURITIES (continued)
Information on the classification and fair value of investment securities is disclosed in Note 37.
Information on the maturity of investment securities is disclosed in Note 43.
15. PREPAID EXPENSES
2024 2023
Prepaid rent 129,415 141,776
Prepaid insurance 33,816 20,540
Others 806,695 876,714
969,926 1,039,030
As of 31 December 2024 and 2023, there were no prepaid expenses for related parties.
16. FIXED ASSETS
Fixed assets consisted of:
2024
Beginning Ending
balance Addition Deduction Reclassification Revaluation balance
Acquisition cost/revaluation amount
Direct ownership
Land 15,505,840 12,033 (30,266) 123,096 237,667 15,848,370
Buildings 6,616,198 49,244 (25,167) 1,128,351 - 7,768,626
Office furnitures, fixtures,
and equipments 10,248,439 2,940,835 (1,670,447) - - 11,518,827
Construction in progress 2,827,584 563,619 (869,072) (1,251,447) - 1,270,684
Right-of-use assets
Land 107 4 (8) - - 103
Buildings 1,698,558 607,444 (562,282) - - 1,743,720
Office furnitures, fixtures,
and equipments 9,371 - (9,371) - - -
Motor vehicles 18,770 - (18,770) - - -
36,924,867 4,173,179 (3,185,383) - 237,667 38,150,330
Accumulated depreciation
Direct ownership
Buildings (3,004,164) (310,019) 19,395 - - (3,294,788)
Office furnitures, fixtures,
and equipments (6,226,332) (1,250,634) 1,662,538 - - (5,814,428)
Right-of-use assets
Land (13) (32) 8 - - (37)
Buildings (842,043) (456,713) 508,303 - - (790,453)
Office furnitures, fixtures,
and equipments (9,161) - 9,161 - - -
Motor vehicles (18,410) - 18,410 - - -
(10,100,123) (2,017,398) 2,217,815 - - (9,899,706)
Net book value 26,824,744 28,250,624
2023
Beginning Ending
balance Addition Deduction Reclassification Revaluation balance
Acquisition cost/revaluation amount
Direct ownership
Land 15,233,002 26,032 (71,592) 96,773 221,625 15,505,840
Buildings 6,516,632 43,467 (12,507) 68,606 - 6,616,198
Office furnitures, fixtures,
and equipments 9,625,517 3,286,344 (2,668,139) 4,717 - 10,248,439
Construction in progress 1,763,047 1,341,888 (107,255) (170,096) - 2,827,584
Right-of-use assets
Land 2,730 107 (2,730) - - 107
Buildings 1,613,690 399,284 (314,416) - - 1,698,558
Office furnitures, fixtures,
and equipments 7,919 1,452 - - - 9,371
Motor vehicles 17,996 774 - - - 18,770
34,780,533 5,099,348 (3,176,639) - 221,625 36,924,867
616 PT Bank Central Asia Tbk 2024 Annual Report
Page 619
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/72
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
16. FIXED ASSETS (continued)
Fixed assets consisted of: (continued)
2023 (continued)
Beginning Ending
balance Addition Deduction Reclassification Revaluation balance
Accumulated depreciation
Direct ownership
Buildings (2,725,745) (285,526) 7,107 - - (3,004,164)
Office furnitures, fixtures,
and equipments (6,619,282) (2,217,422) 2,610,372 - - (6,226,332)
Right-of-use assets
Land (2,669) (74) 2,730 - - (13)
Buildings (707,267) (415,231) 280,455 - - (842,043)
Office furnitures, fixtures,
and equipments (5,409) (2,382) (1,370) - - (9,161)
Motor vehicles (10,789) (2,117) (5,504) - - (18,410)
(10,071,161) (2,922,752) 2,893,790 - - (10,100,123)
Net book value 24,709,372 26,824,744
As of 31 December 2024 and 2023, there are right-of-use assets - net for related parties
amounting to 243,940 and Rp 213,815, respectively (Note 46).
Construction in progress as of 31 December 2024 and 2023 were as follows:
2024 2023
Land 1,087,045 1,123,603
Buildings 79,850 772,897
Others 103,789 931,084
1,270,684 2,827,584
Estimated percentage of the asset completion as of 31 December 2024 and 2023 were at
1% - 99%, respectively.
Revaluation of land assets
In 2024, the Bank revalued its fixed assets in land category using external independent
appraisal which was performed in accordance with Indonesian Appraisal Standards (“SPI”),
The Indonesian Appraiser’s Code of Ethics (“KEPI”) and POJK No. 28/POJK.04/2021
regarding Valuation and Presentation of Property Appraisal Report in the Capital Market.
The differences arising on land of revaluation for the year 2024 were recorded as “revaluation
surplus of fixed assets” and presented in other comprehensive income amounting to
Rp 232,292. Net increase (decrease) of carrying value arising from revaluation for the year
2024 amounting to Rp (10,667) as other operating income, were recorded in the consolidated
statements of profit or loss.
The fair value of land is determined based on market approach by comparing several
comparable land transactions that either have occurred or still in sales offering stage, by
adjusting the differences between fair value of land appraised and the comparable data and
list of land price that has been obtained. The value is also affected by the location, property
rights, physical characteristic, utilisation and other comparative elements.
The fair value measurement of the land is categorised as level 2 fair value based on the inputs
to the valuation technique used.
As of 31 December 2024 and 2023, the carrying value of Bank’s land if the land was recorded
using cost model amounting to Rp 4,538,847 and Rp 4,411,834, respectively.
2024 Annual Report PT Bank Central Asia Tbk 617
Page 620
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/73
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
16. FIXED ASSETS (continued)
Other information
As of 31 December 2024 and 2023, the Bank did not have any fixed assets pledged as
collateral.
Fixed assets disposal includes sales of assets are as follows:
2024 2023
Proceeds from sale 6,378 22,086
Net book value (5,423) (22,110)
Gain (loss) on sale 955 (24)
Depreciation charged to general and administrative expenses for the years ended 31
December 2024 and 2023 amounting to Rp 2,017,399 and Rp 2,935,073, respectively.
Gain on sale of fixed assets recognised as part of other operating income for the years ended
31 December 2024 and 2023 amounting to Rp 2,682 and Rp 15,840, respectively.
Loss on sale of fixed assets recognised as part of other operating expenses for the years
ended 31 December 2024 and 2023 amounting to Rp 1,726 and Rp 15,864, respectively.
The Bank has insured its fixed assets (excluding land rights) to cover the possible losses from
fire, theft, and natural disaster with a total coverage of Rp 27,220,336 as of
31 December 2024, and Rp 23,693,965 as of 31 December 2023. Management believes that
the sum insured is adequate to cover possible losses on the insured fixed assets.
As of 31 December 2024 and 2023, the cost of fully depreciated fixed assets that were still in
use amounting to Rp 2,494,851 and Rp 3,025,647, respectively.
As of 31 December 2024 and 2023, the Bank does not have fixed assets that are temporarily
not used, nor fixed assets that are discontinued from active use which not classified as
available for sale.
Management believes, there is no impairment losses on fixed assets during 2024 and 2023.
Right-of-Use
As at 31 December 2024 and 2023, the finance lease liability in the Group's financial position
amounting to Rp 302,470 and Rp 237,344 was recorded as accruals and other liabilities (Note
23). Interest expense on the finance lease liabilities as of 31 December 2024 and 2023
amounting to Rp 21,495 and Rp 16,092 recorded as part of interest and sharia expense (Note
29).
17. INTANGIBLE ASSETS
2024 2023
Software 1,559,495 1,464,067
Goodwill 1,158,201 1,158,201
Others 4,979 -
Total intangible assets 2,722,675 2,622,268
Less: Amortisation of software (917,036) (1,057,495)
Total intangible assets - net 1,805,639 1,564,773
618 PT Bank Central Asia Tbk 2024 Annual Report
Page 621
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/74
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
18. OTHER ASSETS
2024 2023
Rupiah:
Accrued interest income 7,909,892 6,879,422
Receivables related to ATM and credit card transactions 3,901,409 6,327,736
Foreclosed assets - net 1,859,220 1,707,367
Receivables from insurance transactions 578,789 645,906
Receivables from customer transactions 341,152 485,157
Unaccepted bills receivable 149,799 105,347
Abandoned properties 47,668 47,212
Others 5,531,644 5,008,639
20,319,573 21,206,786
Foreign currencies:
Term Deposits of Foreign Exchange from
Export Proceeds 3,082,192 2,798,405
Accrued interest income 416,213 410,146
Unaccepted bills receivable 14,961 7,591
Receivables from insurance transactions 9,374 10,154
Receivables related to ATM and credit card transactions 4,811 4,816
Others 839,318 49,750
4,366,869 3,280,862
Total other assets 24,686,442 24,487,648
Less: Allowance for impairment losses (23,194) (3,021)
Total other assets - net 24,663,248 24,484,627
Accrued interest income consists of interest income from the placement, securities,
government bonds, loans, and assets from sharia transactions.
Receivables related to ATM and credit card transactions consist of receivables arising from
ATM transactions within ATM Bersama, Prima and Link network as well as receivables from
Visa and Master Card for credit card transactions.
Receivables from insurance transactions represent the Subsidiary’s premium receivables
from policyholders and broker, premium receivables and claim from others insurance
companies and broker of closed policies, also reinsurance assets.
Receivables from customer transactions represent receivables arising from the Subsidiaries’
securities trading transactions.
Unaccepted bills receivable represents unaccepted export bills receivables from customer due
to export import transactions.
Term deposits of foreign exchange from export proceeds is an instrument where foreign
exchange from export proceeds from exporters' special account are placed in Bank Indonesia
through Bank's accounts in accordance with market mechanism.
Others mainly consist of interoffice accounts, receivables from sales of investment in shares,
Receivables from collateral vehicles reinforced, various form of receivables from transaction
with third parties, including clearing transactions, and others.
2024 Annual Report PT Bank Central Asia Tbk 619
Page 622
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/75
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
18. OTHER ASSETS (continued)
Movement of allowance for impairment losses on other assets are as follows:
2024
Stage 1 Stage 2 Stage 3 Total
Balance, beginning of year (3,021) - - (3,021)
Transfer to 12 months expected
credit losses (Stage 1) - 4,219 - 4,219
Net changes in exposure (180) (8,404) (15,874) (24,458)
Foreign exchange difference 66 - - 66
Balance, end of year (3,135) (4,185) (15,874) (23,194)
2023
Stage 1 Stage 2 Stage 3 Total
Balance, beginning of year (213) - - (213)
Transfer to 12 months expected
credit losses (Stage 1) - - 2,797 2,797
Net changes in exposure (2,586) - (3,001) (5,587)
Foreign exchange difference (222) - 204 (18)
Balance, end of year (3,021) - - (3,021)
Management believes that the allowance for impairment losses provided was adequate to
cover possible losses on uncollectible other assets.
Information on the maturity of investment securities is disclosed in Note 43.
Other assets from related parties are disclosed in Note 46.
19. DEPOSITS FROM CUSTOMERS AND OTHER BANKS
a. Deposits from customers
2024 2023
Foreign Foreign
Rupiah currencies Total Rupiah currencies Total
Demand deposits:
Related parties 2,288,360 97,517 2,385,877 1,807,701 101,484 1,909,185
Third parties 316,159,725 40,889,747 357,049,472 308,259,964 36,245,544 344,505,508
318,448,085 40,987,264 359,435,349 310,067,665 36,347,028 346,414,693
Savings:
Related parties 177,069 94,592 271,661 188,935 83,824 272,759
Third parties:
Tahapan 471,740,497 - 471,740,497 456,610,242 - 456,610,242
Tapres 18,763,424 - 18,763,424 18,956,618 - 18,956,618
Tabunganku 13,367,466 - 13,367,466 11,222,607 - 11,222,607
Tahapan Xpresi 35,103,229 - 35,103,229 27,757,014 - 27,757,014
Tahapan Berjangka 1,190,116 - 1,190,116 1,232,454 - 1,232,454
Simpanan Pelajar 7,610 - 7,610 3,344 - 3,344
BCA Dollar - 18,309,992 18,309,992 - 18,032,174 18,032,174
Poket Valas - 868,131 868,131 - - -
540,349,411 19,272,715 559,622,126 515,971,214 18,115,998 534,087,212
Time deposits:
Related parties 543,799 34,296 578,095 435,527 21,766 457,293
Third parties 186,407,466 14,570,631 200,978,097 195,809,028 13,998,581 209,807,609
186,951,265 14,604,927 201,556,192 196,244,555 14,020,347 210,264,902
Total deposits
from customers 1,045,748,761 74,864,906 1,120,613,667 1,022,283,434 68,483,373 1,090,766,807
620 PT Bank Central Asia Tbk 2024 Annual Report
Page 623
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/76
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
19. DEPOSITS FROM CUSTOMERS AND OTHER BANKS (continued)
b. Deposits from other banks
2024 2023
Foreign Foreign
Rupiah currencies Total Rupiah currencies Total
Demand deposits 2,078,699 1,531,742 3,610,441 8,262,175 1,763,788 10,025,963
Time deposits 45,857 - 45,857 44,857 - 44,857
Total deposits from
other banks 2,124,556 1,531,742 3,656,298 8,307,032 1,763,788 10,070,820
As of 31 December 2024 and 2023, the Bank did not have balances of deposits from
other banks from related parties.
c. The average effective interest rates (yield) per annum for deposits from customers and
other banks were as follows:
2024 2023
Foreign Foreign
Rupiah currencies Rupiah currencies
(%) (%) (%) (%)
Deposits from customers:
Demand deposits 0.79 0.61 0.76 0.34
Savings 0.07 0.35 0.10 0.31
Time deposits 3.13 2.12 3.22 1.69
Deposits from other banks:
Demand deposits 0.46 0.01 0.46 0.01
Time deposits 2.03 - 2.62 -
d. Time deposits based on maturity period:
2024 2023
Foreign Foreign
Rupiah currencies Total Rupiah currencies Total
1 month 123,359,199 11,201,103 134,560,302 119,304,539 10,493,656 129,798,195
3 months 57,585,594 2,337,650 59,923,244 68,554,405 2,369,213 70,923,618
6 months 3,482,289 786,232 4,268,521 5,089,829 826,151 5,915,980
12 months 2,570,040 279,942 2,849,982 3,340,639 331,327 3,671,966
186,997,122 14,604,927 201,602,049 196,289,412 14,020,347 210,309,759
e. Time deposits based on remaining period until maturity date:
2024 2023
Foreign Foreign
Rupiah currencies Total Rupiah currencies Total
Up to 1 month 142,376,626 11,923,673 154,300,299 135,888,509 11,174,616 147,063,125
> 1 - 3 months 40,873,549 2,138,306 43,011,855 54,929,968 2,235,362 57,165,330
> 3 - 6 months 2,284,886 395,052 2,679,938 3,390,952 453,889 3,844,841
> 6 - 12 months 1,462,061 147,896 1,609,957 2,079,983 156,480 2,236,463
186,997,122 14,604,927 201,602,049 196,289,412 14,020,347 210,309,759
f. Deposits pledged as collateral to loans granted by the Bank as of 31 December 2024
and 2023 (Note 12) were as follows:
2024 2023
Demand deposits 7,647,247 6,521,496
Savings 1,539,515 1,690,578
Time deposits 9,278,370 9,414,730
18,465,132 17,626,804
Information on the classification and fair value of deposits from customers and other
banks is disclosed in Note 37. Information on the maturity of deposits from customers
and other banks is disclosed in Note 43.
2024 Annual Report PT Bank Central Asia Tbk 621
Page 624
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/77
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
20. INCOME TAX
a. Prepaid tax
2024 2023
Bank 1,532,246 24,117
Subsidiaries 29,929 751
1,562,175 24,868
b. Tax payable
2024 2023
Current tax payable
Bank:
Corporate income tax payable - Article 25 - 847,154
Corporate income tax payable - Article 29 - 6,418
Subsidiaries:
Corporate income tax payable - Article 25/29 22,117 184,702
Total current tax payable 22,117 1,038,274
Other tax payable
Bank:
Income tax
Article 21 39,874 188,264
Article 23 347,122 307,368
Article 26 4,564 9,493
Others 102,008 76,055
Total 493,568 581,180
Subsidiaries 110,670 108,456
Total other tax payable 604,238 689,636
626,355 1,727,910
c. Tax expenses
2024 2023
Current tax:
Current year
Bank 10,546,025*) 10,690,181
Subsidiaries 720,092 658,325
11,266,117 11,348,506
Deferred tax:
Origination (recovery) of temporary differences
Bank 2,165,591 205,557
Subsidiaries (65,132) (32,401)
2,100,459 173,156
13,366,576 11,521,662
*) Included in the current tax expense, the Bank made corrections to the 2020 and 2022 SPT, with a total underpayment
of Rp 254,764. The Bank has made payment of the tax.
622 PT Bank Central Asia Tbk 2024 Annual Report
Page 625
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/78
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
20. INCOME TAX (continued)
c. Tax expenses (continued)
Based on the Regulation of the Minister of Finance of the Republic of Indonesia Number
136 of 2024 which was issued on 31 December 2024 (“PMK-136 of year 2024”), the
jurisdiction in which the Bank is incorporated, has come into effect from 1 January 2025.
Since the regulation was not effective at the reporting date, the group has no related
current tax exposure. The Group applies the SFAS 212 exception to recognising and
disclosing information about deferred tax assets and liabilities related to Pillar two income
taxes. As of 31 December 2024, the Bank still assessing the impact of implementation of
the regulation.
d. Through Law number 7 of 2021 dated 29 October 2021 concerning Harmonisation of
Tax Regulations, Taxpayers can obtain a reduction in PPh rates of 3% (three percent)
lower than the domestic Corporate Taxpayer PPh rate as stipulated in article 17
paragraph 1 letter b, Chapter III regarding Income Tax, so that the rate becomes 19%
for 2022, 2023 and 2024, if it meets the following criteria:
1. In the form of a public company.
2. With the total of paid-up shares traded on the stock exchange in Indonesia at least
40% (forty percent).
3. Fulfill certain requirements.
The certain requirements are regulated in article 65, Government Regulation number 55
of 2022, regarding Adjustments to Regulations in the Field of Income Tax, dated 20
December 2022, as follows:
1. The public owned 40% (forty percent) or more of the total paid up shares and those
shares are owned by at least 300 (three hundred) parties.
2. Each party can only own less than 5% (five percent) of total paid-up shares.
3. The taxpayer should fulfill the above mentioned criteria at least within 183 (one
hundred and eighty three) calendar days in 1 (one) fiscal year.
4. Parties that meet the requirements of 300 (three hundred) parties and 5% (five
percent) as stated above, do not include:
a. Public Company Taxpayers who buy back their shares; and/or
b. Those who have a special relationship as stipulated in the Income Tax Law with
Public Company Taxpayers.
Fulfilment of these requirements is carried out by Public Company Taxpayers by
submitting reports to the Directorate General of Taxes, including: monthly reports of
share ownership of issuers or public companies and recapitulation that has been
reported from the Securities Administration Bureau.
On 6 January 2025 and 5 January 2024, the Bank received a declaration letter from the
Securities Administration Bureau for the fulfilment of the above criteria for fiscal year
2024 and 2023, respectively.
2024 Annual Report PT Bank Central Asia Tbk 623
Page 626
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/79
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
20. INCOME TAX (continued)
e. The reconciliation of consolidated accounting income before tax and taxable income
of the Bank was as follows:
2024 2023
Consolidated accounting income before tax 68,217,850 60,179,757
Elimination 2,445,861 1,980,891
Before elimination 70,663,711 62,160,648
Subsidiary’s accounting income before tax (3,245,713) (3,279,338)
Accounting income before tax - Bank only 67,417,998 58,881,310
Permanent differences:
Employees' welfare 71,802 79,233
Rent income (48,249) (46,603)
Dividends from Subsidiaries (2,402,602) (1,914,400)
Interest income from off-shore
government bonds (25,840) (74,912)
Other expense (income) which cannot be deducted
for tax calculation purposes - net 549,273 421,360
(1,855,616) (1,535,322)
Temporary differences:
Post-employment benefits obligation 133,855 919,601
Allowance for Impairment losses on financial assets (12,316,400) (3,873,147)
Allowance for Impairment losses on
non-financial assets (523) 96,756
Accrued employees' benefits 280,999 315,195
Unrealised losses on investment securities and
placement with other banks measured at fair
value through profit or loss (72,198) (93,454)
Other income which cannot be deducted
for tax calculation purposes - net 576,422 1,553,172
(11,397,845) (1,081,877)
Taxable income 54,164,537 56,264,111
624 PT Bank Central Asia Tbk 2024 Annual Report
Page 627
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/80
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
20. INCOME TAX (continued)
f. The reconciliation between consolidated accounting income before tax multiplied by the
applicable maximum tax rate and income tax expense was as follows:
2024 2023
Consolidated accounting income before tax 68,217,850 60,179,757
Maximum tax rate 22% 22%
15,007,927 13,239,547
Permanent differences at 22% - Bank (408,237) (337,771)
Permanent differences at 22% - Subsidiaries 478,993 340,265
15,078,683 13,242,041
Adjustment of corporate income tax rate -
Bank (Note 20d) (1,966,871) (1,720,379)
Others 254,764 -
Income tax expense - consolidated 13,366,576 11,521,662
g. The calculation of current tax and income tax payable were as follows:
2024 2023
Taxable income:
Bank 54,164,535 56,264,111
Subsidiaries 3,273,145 2,992,386
57,437,680 59,256,497
Current tax:
Bank 10,291,262 10,690,181
Subsidiaries 720,092 658,325
11,011,354 11,348,506
Prepaid income taxes:
Bank (11,766,013) (10,683,763)
Subsidiaries (697,975) (473,623)
(12,463,988) (11,157,386)
Difference (over)/under payment:
Bank (1,474,751) 6,418
Subsidiaries 22,117 184,702
2024 Annual Report PT Bank Central Asia Tbk 625
Page 628
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/81
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
20. INCOME TAX (continued)
g. The calculation of current tax and income tax payable were as follows: (continued)
Annual Tax Return (“SPT”) of Corporate Income Tax for fiscal year 2024 has not yet been
submitted. Taxable income results from reconciliation above is the basis in filling the
Bank’s Annual Tax Return (“SPT”) of Corporate Income Tax for the year ended 31
December 2024.
The calculations of income tax for the year ended 31 December 2023 conform to the
Bank’s Annual Tax Returns (“SPT”).
h. The significant items of deferred tax assets and liabilities as of 31 December 2024
and 2023 were as follows:
Recognised in
Recognised in current year
current year other comprehensive
2023 profit or loss income 2024
Deferred tax assets
Parent entity - Bank:
Post-employment benefits obligations 805,753 25,433 - 831,186
Allowance for impairment losses
of financial assets 4,344,130 (2,340,116) - 2,004,014
Allowance for impairment losses
of non-financial assets 132,003 (100) - 131,903
Accrued employees’ benefits 763,693 53,390 - 817,083
Depreciation on fixed assets 9,868 (63,815) - (53,947)
Unrealised gain (losses) on investment
securities and placement with other
banks measured at fair value through
other comprehensive income (219,058) - 153,176 (65,882)
Remeasurements of defined benefit
obligation 882,253 - (14,146) 868,107
Unrealised gains (losses) on investment
securities and placement with other
banks measured at fair value through
profit or loss (17,039) (13,718) - (30,757)
Fiscal correction regarding SFAS 116 15,730 1,819 - 17,549
Others 490,404 171,516 - 661,920
Deferred tax assets - net 7,207,737 (2,165,591) 139,030 5,181,176
Subsidiaries:
PT BCA Finance 39,838 22,991 (3,277) 59,552
PT BCA Sekuritas 2,568 7,973 2,679 13,220
PT Bank BCA Syariah 58,501 27,839 2,756 89,096
PT Asuransi Umum BCA 64,691 10,196 14 74,901
PT Asuransi Jiwa BCA 30,264 2,074 2,510 34,848
PT BCA Multi Finance 13,749 (15,529) 1,780 -
PT Bank Digital BCA 30,289 6,285 (1,067) 35,507
PT Central Capital Ventura 3,599 3,303 6 6,908
Deferred tax assets - net 243,499 65,132 5,401 314,032
Total deferred tax assets - net 7,451,236 (2,100,459) 144,431 5,495,208
Deferred tax liabilities
Subsidiary:
PT Central Capital Ventura - - - -
Total deferred tax liabilities - net - - - -
626 PT Bank Central Asia Tbk 2024 Annual Report
Page 629
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/82
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
20. INCOME TAX (continued)
h. The significant items of deferred tax assets and liabilities as of 31 December 2024
and 2023 were as follows: (continued)
Recognised in
Recognised in current year
current year other comprehensive
2022 profit or loss income 2023
Deferred tax assets
Parent entity - Bank:
Post-employment benefits obligations 631,029 174,724 - 805,753
Allowance for impairment losses
of financial assets 5,080,028 (735,898) - 4,344,130
Allowance for impairment losses
of non-financial assets 113,620 18,383 - 132,003
Accrued employees’ benefits 703,806 59,887 - 763,693
Depreciation on fixed assets 5,131 4,737 - 9,868
Unrealised gain (losses) on investment
securities and placement with other
banks measured at fair value through
other comprehensive income (421,044) - 201,986 (219,058)
Remeasurements of defined benefit
obligation 776,984 - 105,269 882,253
Unrealised gains (losses) on investment
securities and placement with other
banks measured at fair value through
profit or loss 717 (17,756) - (17,039)
Fiscal correction regarding SFAS 116 14,613 1,117 - 15,730
Others 201,155 289,249 - 490,404
Deferred tax assets - net 7,106,039 (205,557) 307,255 7,207,737
Subsidiaries:
PT BCA Finance 49,038 (13,224) 4,024 39,838
PT BCA Sekuritas 3,323 (520) (235) 2,568
PT Bank BCA Syariah 35,550 22,475 476 58,501
PT Asuransi Umum BCA 71,539 (6,318) (530) 64,691
PT Asuransi Jiwa BCA 19,188 8,911 2,165 30,264
PT BCA Multi Finance 35,209 (21,298) (162) 13,749
PT Bank Digital BCA 1,445 29,046 (202) 30,289
PT Central Capital Ventura - 3,572 27 3,599
Deferred tax assets - net 215,292 22,644 5,563 243,499
Total deferred tax assets - net 7,321,331 (182,913) 312,818 7,451,236
Deferred tax liabilities
Subsidiary:
PT Central Capital Ventura 9,740 (9,757) 17 -
Total deferred tax liabilities - net 9,740 (9,757) 17 -
The amount of deferred tax assets of the Bank and subsidiaries, is included in total deferred
tax asset (liability) arising from unrealised gain (loss) from changes in fair value of
investment securities measured at fair value through other comprehensive income (Note
14) amounting to Rp (65,882) and Rp 1,224 as of 31 December 2024, respectively, and
Rp (219,264) and Rp (3,546) as of 31 December 2023.
Moreover, included in total deferred tax asset of the Bank was deferred tax asset (liability)
arising from unrealised gain (loss) from changes in fair value of placements with Bank
Indonesia and other banks at fair value through other comprehensive income (Note 7)
amounting to Rp nil and Rp 206 as of 31 December 2024 and 2023, respectively.
Management believes that total deferred tax assets arising from temporary differences are
probable to be realised in the future years.
i. In accordance with the provision of Indonesian taxation laws, the Group in Indonesia
calculate, pay, and report individual company tax return (submission of consolidated
income tax computation is not allowed) on the basis of self-assessment. The tax
authorities may assess or amend taxes within the statute of limitations, under prevailing
regulations.
2024 Annual Report PT Bank Central Asia Tbk 627
Page 630
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/83
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
20. INCOME TAX (continued)
j. The Group tax positions may be challenged by the tax authorities. Management vigorously
defends the Group tax positions which are believed to be grounded on technical basis,
and in compliance with the tax regulations. Accordingly, management believes that the
accruals for tax liabilities are adequate for all open fiscal years based on the assessment
of various factors, including interpretations of tax law, other tax provisions and prior
experience. This assessment relies on estimates and assumptions and may involve
judgment about future events. New information may become available that causes
management to change its judgment regarding the adequacy of existing tax liabilities.
The changes to tax liabilities will impact tax expense in the period in which such
determination is made.
k. Other Information
Fiscal Year 2016
On 10 July 2017, the Directorate General of Taxes issued a field inspection notification
letter for the 2016 fiscal year to the Bank. For the tax examination for fiscal year 2016,
Directorate General of Taxes through Tax Assessment Letter (“SKP”) and Tax Collection
Letter (“STP”) dated 11 July 2019, has determined tax underpayment with detail as
follows:
a. Income tax (including Corporate Income Tax) amounting to Rp 1,590,596.
b. Value Added Tax (“VAT”) amounting to Rp 63,686.
The Bank made partial payments for the SKP and STP amounting to Rp 190,311 on
9 August 2019, this amount includes taxes that the Bank has not objected to amounting to
Rp 184,754 which was charged during the year. On 9 October 2019, the Bank has made
partial payments of SKP and STP of Rp 546,104. Amounts that have been paid by the
Bank, but which were objected to, are recorded as other assets (Note 18).
Of the tax objected by the Bank on 10 October 2019 amounting to Rp 1,469,528, a portion
of Rp 724,935 was approved by the Directorate General of Taxes on 9 September 2020
and 29 September 2020.
The Bank has filed an appeal against the tax objection that was not accepted by the
Directorate General of Taxes on December 7, 2020, amounting to Rp 735,407. On August
30, 2024, the Tax Court rejected the Bank's appeal amounting to Rp 48,774, while the
remainder has not been decided by the Tax Court until the date of publication of the
consolidated financial statements. The Bank has filed a Judicial Review to the Supreme
Court on this appeal decision on 5 December 2024.
Fiscal Year 2017
On 4 September 2018, the Directorate General of Taxes issued a field inspection
notification letter for the 2017 tax year to the Bank. Upon the tax audit for 2017 fiscal
year, the Directorate General of Taxes based on the Tax Assessment Letter (SKP)
and Tax Collection Letter (STP), dated 9 September 2020 and 10 September 2020,
stipulates the underpayment of taxes with details:
a. Income Tax (including Corporate Income Tax) of a total of Rp 883,411.
b. Value Added Tax (“VAT”) of a total of Rp 51,060.
628 PT Bank Central Asia Tbk 2024 Annual Report
Page 631
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/84
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
20. INCOME TAX (continued)
k. Other Information (continued)
Fiscal Year 2017 (continued)
The Bank has made partial payments of the SKP and STP amounting to Rp 700,000
on 8 October 2020, this amount includes tax that the Bank has not objected
amounting to Rp 157,603 which was charged in current year profit or loss. Amounts
that have been paid by the Bank, but which were objected to, are recorded as other
assets (Note 18).
Of the tax objected by the Bank on 8 December 2020 amounting to Rp 776,869, a
portion of Rp 65,922 was approved by the Directorate General of Taxes on 30
November 2021, 2 December 2021 and 3 December 2021.
The Bank has filed an appeal against the tax objection that was not accepted by the
Directorate General of Taxes on February 25, 2022, amounting to Rp 709,060. On
September 27, 2024, the Tax Court partially accepted the Bank's appeal amounting
to Rp 47,724, while the remainder has not been decided by the Tax Court until the
date of publication of the consolidated financial statements. Of the amount that has
been decided, Rp 27,499 was received, while Rp 20,225 was not received and will
be submitted for Judicial Review by the Bank to the Supreme Court.
Fiscal Year 2018
On 3 April 2023, the Directorate General of Taxes issued a field inspection
notification letter for the 2018 tax year to the Bank.
Upon the tax audit for 2018 fiscal year, the Directorate General of Taxes based on
the Tax Assessment Letter (SKP) and Tax Collection Letter (STP) dated 24
November 2023, determined the tax underpayment amounting to Rp 613,141 with
details:
a. Income Tax (including Corporate Income Tax) amounted Rp 516,520.
b. Value Added Tax (VAT) amounted Rp 96,621.
On December 13, 2023 and February 21, 2024, the Bank has made payments for
the SKP and STP amounting to Rp 123,505 and Rp 489,636, respectively. For these
payments, an amount of Rp 117,373 was not objected and was charged in 2023
and Rp 495,768 are recorded as other assets (Note 18).
Bank has filed objections of the SKP to Directorate General of Taxes on 21 February
2024 amounting to Rp 495,768. As of the date of the consolidated financial
statements the outcome of the objections is not yet known. On 20 November 2024,
The Directorate General of Taxes issued a decision on some of the objections
amounting to Rp 94,230, while a decision has not been issued for the remainder
until the date of publication of the consolidated financial statements. Of the amount
issued by the Decision, Rp 16,868 was received, while the remaining Rp 77,362 was
not received and will be appealed by the Bank to the Tax Court.
Fiscal Year 2021
On 10 September 2024, the Directorate General of Taxes issued a field inspection
notification letter for the 2021 tax year to the Bank.
2024 Annual Report PT Bank Central Asia Tbk 629
Page 632
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/85
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
21. BORROWINGS
Borrowings received by the Group were as follows:
By type and currency:
2024 2023
(1) Liquidity loans from Bank Indonesia, Rupiah:
Agriculture loans (Kredit Usaha Tani/"KUT"),
due date between 13 March 2000 up to
22 September 2000, in the process of closing
the agreement 577 577
(2) Borrowings from other banks:
Rupiah:
PT Bank Mizuho 750,000 300,000
PT Bank SMBC Indonesia Tbk (Previously
PT Bank BTPN Tbk) 700,000 380,000
PT Bank China Construction Bank Indonesia Tbk 285,779 256,169
PT Bank Ina Perdana Tbk 200,000 50,000
PT Bank KEB Hana Indonesia 10,556 194,852
PT Bank Mandiri (Persero) Tbk - 50,000
PT Bank UOB Indonesia - 25,000
1,946,335 1,256,021
Foreign currencies:
PT Bank Danamon Indonesia Tbk 252,509 73,798
Sumitomo Mitsui Banking Corporation – Hong Kong - 120,122
Citibank, N.A, - Indonesia Branch - 99,187
Wells Fargo Bank - Miami Branch - 20,021
252,509 313,128
2,198,844 1,569,149
(3) Others:
Foreign currencies 43,095 59,900
43,095 59,900
Total borrowings 2,242,516 1,629,626
The average effective interest rates (yield) per annum for borrowings were as follows:
2024 2023
Rupiah 5.49% 5.29%
Foreign currencies 6.00% 6.15%
As of 31 December 2024 and 2023, the Group does not have any borrowing balance from
other banks from related parties.
(1) Rupiah liquidity loans from Bank Indonesia
Rupiah liquidity loans from Bank Indonesia represent credit facilities obtained by the
Bank as a national private bank in Indonesia, to be distributed to qualified Indonesian
debtors under the loan facility program.
630 PT Bank Central Asia Tbk 2024 Annual Report
Page 633
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/86
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
21. BORROWINGS (continued)
As of 31 December 2024 and 2023, the Group does not have any borrowing balance from
other banks from related parties. (continued)
(2) Borrowings from other banks
Represent working capital loans of Subsidiaries. The details of borrowing facilities
received as of 31 December 2024 and 2023 were as follows:
Bank Total facility Maturity date of facility
2024 2023 2024 2023
Rupiah:
PT Bank Mandiri (Persero) Tbk 500,000 500,000 24-May-2025 24-May-2024
- 500,000 - 6-Apr-2026
PT SMBC Indonesia Tbk
(previously PT Bank BTPN Tbk) *) 800,000 800,000 31-May-2025 31-May-2024
- 250,000 - 30-Sep-2024
PT Bank China Construction Indonesia Tbk 285,779 150,000 17-Jul-2027 21-Apr-2026
- 200,000 - 29-Sep-2026
PT Bank Danamon Indonesia Tbk *) 250,000 150,000 24-Dec-2024 ***) 24-Sep-2024
- 50,000 - 14-Jan-2024
- 50,000 - 14-Jan-2027
PT Bank UOB Indonesia *) 475,000 475,000 21-Sep-2025 21-Sep-2024
PT Bank DKI - 250,000 - 24-Sep-2024
PT Bank Mizuho Indonesia *)
750,000 500,000 22-Nov-2025 22-Nov-2024
PT Bank Victoria International Tbk - 400,000 - 14-Jan-2024
PT Bank Pan Indonesia Tbk 500,000 500,000 4-Aug-2025 4-Aug-2024
- 200,000 - 4-May-2026
PT Bank Ina Perdana Tbk 200,000 200,000 16-Dec-2025 16-Dec-2024
PT Bank Nationalnobu Tbk 100,000 100,000 24-Feb-2025 24-Feb-2024
PT Bank KEB Hana Indonesia - 25,000 - 29-Nov-2024
10,556 75,000 30-Jan-2026 30-Jan-2026
Foreign currencies (full amount):
Citibank, N.A, - Indonesia Branch*) USD 60,000,000 USD 60,000,000 20-Mar-2025 20-Mar-2024
Sumitomo Mitsui Banking Corporation
- Hong Kong**) - USD 25,000,000 - -
Wells Fargo Bank - Miami Branch**) - USD 10,000,000 - -
*) Available to be withdrawn partially in US Dollar/Rupiah
**) Represents uncommitted resolving facilities
***) In extension process
As of 31 December 2024 and 2023, these bank loans were secured by consumer
financing receivables amounting to Rp nil and Rp 265,734 (Note 13).
All loan agreements above are include certain covenants which are normally required
for such credit facilities, such as limitations to initiate merger or consolidation with other
parties, obtain loans from other parties except loans obtained in the normal course of
business, or changes its capital structure and/or Articles of Association without
notification to/prior written approval from the creditors and maintenance of certain
agreed financial ratios.
The required financial ratios was as follows:
2024 2023
Requirement Fulfilment Requirement Fulfilment
1. Debt to Equity Maximum 10 times < 1 time Maximum 10 times < 1 time
2. Receivable to Total Assets Minimum 40% 86.29% Minimum 40% 80.18%
3. Current ratio Minimum 1.1 times 1.72 times Minimum 1.1 times 2.24 times
4. Non performing financing (“NPF”) Maximum 5% 2.88% Maximum 5% 2.31%
of total receivables of total receivables
2024 Annual Report PT Bank Central Asia Tbk 631
Page 634
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/87
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
21. BORROWINGS (continued)
As of 31 December 2024 and 2023, the Group does not have any borrowing balance from
other banks from related parties. (continued)
(2) Borrowings from other banks (continued)
The range of contractual interest rates for borrowings from other banks was as follows:
2024 2023
Rupiah 5.90% - 8.50% 5.55% - 8.50%
Foreign currencies - 5.60% - 6.38%
Information on the classification and fair value of borrowings is disclosed in Note 37.
Information on the maturity of borrowings is disclosed in Note 43.
22. ESTIMATED LOSSES FROM COMMITMENTS AND CONTINGENCIES
Estimated losses from commitments and contingencies consist of:
a. By type and currencies
2024 2023
Rupiah
Related parties:
Unused credit facilities 3,333 4,834
Outstanding irrevocable Letters of Credit - 4
3,333 4,838
Third parties:
Unused credit facilities 2,706,067 3,084,398
Bank guarantees issued 9,772 5,195
Outstanding irrevocable Letters of Credit 1,499 24,497
2,717,338 3,114,090
2,720,671 3,118,928
Foreign currencies
Related parties:
Outstanding irrevocable Letters of Credit 627 14
Bank guarantees issued 70 20
697 34
Third parties:
Unused credit facilities 188,926 212,126
Outstanding irrevocable Letters of Credit 43,490 28,154
Bank guarantees issued 21,403 12,432
253,819 252,712
254,516 252,746
Total estimated losses from commitments
and contingencies 2,975,187 3,371,674
632 PT Bank Central Asia Tbk 2024 Annual Report
Page 635
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/88
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
22. ESTIMATED LOSSES FROM COMMITMENTS AND CONTINGENCIES (continued)
b. Changes in estimated losses from commitments and contingencies
2024
Stage 1 Stage 2 Stage 3 Total
Balance, beginning of year 3,181,093 148,170 42,411 3,371,674
Transfer to lifetime expected credit
losses (Stage 2) (27,752) 146,900 - 119,148
Transfer to credit
impaired (Stage 3) (1,402) (37,003) 1,892 (36,513)
Transfer to 12 months expected
credit losses (Stage 1) 17,879 (87,636) - (69,757)
Net changes in exposure (363,030) (41,276) (16,576) (420,882)
Foreign exchange difference 8,527 1,396 1,594 11,517
Balance, end of year 2,815,315 130,551 29,321 2,975,187
2023
Stage 1 Stage 2 Stage 3 Total
Balance, beginning of year 3,237,294 144,230 56,825 3,438,349
Transfer to lifetime expected credit
losses (Stage 2) (42,887) 175,761 - 132,874
Transfer to credit
impaired (Stage 3) (8,933) (39,607) - (48,540)
Transfer to 12 months expected
credit losses (Stage 1) 19,431 (59,324) - (39,893)
Net changes in exposure (21,874) (72,933) (15,254) (110,061)
Foreign exchange difference (1,938) 43 840 (1,055)
Balance, end of year 3,181,093 148,170 42,411 3,371,674
Management believes that the outstanding balance of estimated losses from commitments
and contingencies is adequate to cover possible losses from off-balance sheet transactions.
Information regarding the classification and estimated losses from commitments and
contingencies value are disclosed in Note 37. Information regarding the maturity of estimated
losses from commitments and contingencies are disclosed in Note 43.
23. ACCRUALS AND OTHER LIABILITIES
2024 2023
Rupiah:
Liabilities to policyholders 3,547,351 3,037,587
Unearned revenue 3,519,052 2,704,896
Liabilities related to ATM and credit card transactions 2,392,953 5,626,955
Electronic money 1,369,505 1,240,471
Customers transfer transactions 744,439 563,628
Finance lease liabilities (Note 16, 37) 300,120 233,205
Accrued interest expenses 277,190 324,180
Liabilities from customer transactions 207,610 413,219
Security deposits 178,687 231,466
Liabilities from insurance transactions 86,920 48,912
Others 9,392,273 10,684,151
22,016,100 25,108,670
2024 Annual Report PT Bank Central Asia Tbk 633
Page 636
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/89
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
23. ACCRUALS AND OTHER LIABILITIES (continued)
2024 2023
Foreign currencies:
Term Deposits of Foreign Exchange from
Export Proceeds 3,082,192 2,798,405
Customers transfer transactions 1,208,469 1,295,501
Unearned revenue 239,405 130,959
Security deposits 97,209 58,681
Liabilities related to ATM and credit card transactions 18,899 -
Accrued interest expenses 13,249 13,575
Insurance transaction liabilities 4,179 9,634
Finance lease liabilities (Note 16, 37) 2,350 4,139
Others 833,397 76,301
5,499,349 4,387,195
Total accruals and other liabilities 27,515,449 29,495,865
Liabilities related to ATM and credit card transactions consist of liabilities on ATM transactions
within ATM Bersama, Prima and Link, and liabilities to Master Card and Visa for credit card
transactions.
Unearned revenue consists of income from loan commission.
Liabilities to policyholders represent liabilities of Subsidiary for long-term insurance contract,
liability for future policy benefits, unearned premium reserves and estimated claim.
Electronic money represents liabilities of the Bank from cash deposited by customers
electronically and not considered as deposits as stipulated in banking laws.
Accrued interest expenses consist of accrued interest from deposits from customers and other
banks, derivatives, borrowings, securities sold under repurchase agreement and subordinated
bonds.
Liabilities from customer transactions represent liabilities of Subsidiaries for trading securities
transactions, which consist of liabilities to PT Kliring Penjaminan Efek Indonesia (“KPEI”)
related to purchase of securities transactions and deposits rendered by Subsidiaries, and
liabilities from customer transactions related to selling of securities transactions that will be
matured in a short period, usually in 2 (two) days from date of trading.
The security deposit is a guarantee of cash deposited by customers from export-import
transaction and issuance of bank guarantees.
Liabilities from insurance transactions was liabilities of Subsidiaries for reinsurance payables,
coinsurance payable and claim in process.
Finance lease liabilities represent lease liabilities related to the implementation of SFAS 116.
Term deposits of foreign exchange from export proceeds is an instrument where foreign
exchange from export proceeds from exporters' special account are placed in Bank Indonesia
through Bank's accounts in accordance with market mechanism.
Customer transfer transactions are liabilities arising from clearing, inward remittance and
outward remittance transactions that have not been settled.
Others mainly consist of short-term liabilities to employee, interoffice accounts, deposit and
unsettled transactions.
Information on the maturity of accruals and other liabilities are disclosed in Note 43.
634 PT Bank Central Asia Tbk 2024 Annual Report
Page 637
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/90
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
24. SUBORDINATED BONDS
2024 2023
Bank Central Asia Continuous
Subordinated Bonds I Phase I Year 2018 500,000 500,000
Total subordinated bonds 500,000 500,000
The details of subordinated bonds were as follows:
Effective and
Instruments issued date Approval Principal amount Terms Maturity date Interest rate
Bank Central Asia Effective date No. S-03825/ Rp 435,000 7 Years 5 July 2025 7.75%
Continuous 26 June 2018 BEI.PP2/07-2018
Subordinated Issued date
Bonds I Phase I 5 July 2018
Year 2018 -
Series A
Bank Central Asia Effective date No. S-03825/ Rp 65,000 12 Years 5 July 2030 8.00%
Continuous 26 June 2018 BEI.PP2/07-2018
Subordinated Issued date
Bonds I Phase I 5 July 2018
Year 2018 -
Series B
Interest of Bank Central Asia Continuous Subordinated Bonds I Phase I Year 2018 - Series A
and B are paid quarterly since the issuance date, with no option of accelerating the
Subordinated Bonds interest payment. The first payment of interest was due on 5 October
2018. Bank Central Asia Continuous Subordinated Bonds I Phase I Year 2018 - Series A
and B can be calculated as supplementary capital (Tier 2) based on OJK Regulation
No. 11/POJK.03/2016 and to increase collection structure of long term funding. The
proceeds from issuance of Bank Central Asia Continuous Subordinated Bonds I Phase I Year
2018 - Series A and B will be used to grow the Bank's business, especially for credit
expansion.
The trustee of the above subordinated bonds is PT Bank Rakyat Indonesia (Persero) Tbk that
is not a related party to the Bank.
Based on the result of long-term debt rating by PT Pemeringkat Efek Indonesia (PT Pefindo),
the rating of subordinated bonds is as follows:
2024 2023
Rating Rating
Description Rating Period Rating Period
Bank Central Asia Continuous
Subordinated Bonds I 8 March 2024 - 7 March 2023 -
Phase I Year 2018 idAA 1 March 2025 idAA 1 March 2024
The Trusteeship Agreement provides several negative covenants that should be complied by
the Bank among others, prior to the repayment of the bonds payable, without the written
consent from the Trustee, the Bank is not allowed to:
a. Pledge majority or all of the Bank's present or future income or assets outside Bank's main
business, except if the actions are performed to meet regulatory requirements or related
with short term liquidity borrowing or related with the Bank's option for recovery plan;
b. Change the Bank main business;
2024 Annual Report PT Bank Central Asia Tbk 635
Page 638
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/91
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
24. SUBORDINATED BONDS (continued)
The Trusteeship Agreement provides several negative covenants that should be complied by
the Bank among others, prior to the repayment of the bonds payable, without the written
consent from the Trustee, the Bank is not allowed to: (continued)
c. Reduce authorised capital and paid-up capital unless the reduction is made on the basis
of a request from the Government of Indonesia or authority order (include but not limited
to BI, OJK, the Minister of Finance in the Republic of Indonesia and/or monetary
authorities as well as restructuring authorities in the Banking sector in accordance with
the prevailing laws in Indonesia);
d. Merger or consolidation with other companies which cause dilution of the Bank.
As of 31 December 2024 and 2023, the Bank was in compliance with all significant covenants
in relation to the issued subordinated debts agreements. Payments of interest had been done
on a timely basis.
Information on the classification and fair value of subordinated bonds is disclosed in Note 37.
Information on the maturity of subordinated bonds is disclosed in Note 43.
25. SHARE CAPITAL
The composition of the Bank’s share capital as of 31 December 2024 and 2023 were as follows:
2024 2023
Number of shares Total par value Number of shares Total par value
Share capital – par value at Rp 12.50
(full amount) per share 440,000,000,000 5,500,000 440,000,000,000 5,500,000
Unissued (316,724,950,000) (3,959,062) (316,724,950,000) (3,959,062)
Outstanding shares (issued and fully paid) 123,275,050,000 1,540,938 123,275,050,000 1,540,938
The composition of shareholders as of 31 December 2024 and 2023 were as follows:
2024
Number of
shares Total par value %
PT Dwimuria Investama Andalan *)
67,729,950,000 846,624 54.94
Commissioners
Djohan Emir Setijoso 106,824,845 1,335 0.09
Tonny Kusnadi 7,269,681 91 0.01
Directors
Jahja Setiaatmadja 33,850,785 423 0.03
Armand W. Hartono 4,256,065 53 0.00
Gregory Hendra Lembong 977,547 12 0.00
Subur Tan 10,710,172 134 0.01
Rudy Susanto 2,908,127 36 0.00
Lianawaty Suwono 2,264,685 28 0.00
Santoso 2,690,902 34 0.00
Vera Eve Lim 2,212,324 28 0.00
Haryanto Tiara Budiman 776,099 10 0.00
Frengky Chandra Kusuma 2,107,984 26 0.00
John Kosasih 731,076 9 0.00
Antonius Widodo Mulyono 262,511 3 0.00
Public shareholders**) 55,367,257,197 692,092 44.92
123,275,050,000 1,540,938 100.00
*) The shareholders of PT Dwimuria Investama Andalan are Mr. Robert Budi Hartono and Mr. Bambang Hartono, therefore the ultimate shareholders of the
Bank are Mr. Robert Budi Hartono and Mr. Bambang Hartono.
**) In the composition of shares held by the public, there was 2.49% shares owned by parties affiliated with PT Dwimuria Investama Andalan.
636 PT Bank Central Asia Tbk 2024 Annual Report
Page 639
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/92
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
25. SHARE CAPITAL (continued)
The composition of shareholders as of 31 December 2024 and 2023 were as follows:
(continued)
2023
Number of
shares Total par value %
PT Dwimuria Investama Andalan*) 67,729,950,000 846,624 54.94
Commissioners
Djohan Emir Setijoso 106,610,700 1,333 0.09
Tonny Kusnadi 7,087,982 89 0.01
Directors
Jahja Setiaatmadja 32,818,853 410 0.03
Armand W. Hartono 4,256,065 53 0.00
Gregory Hendra Lembong 784,719 10 0.00
Subur Tan 11,351,057 142 0.01
Rudy Susanto 2,518,448 31 0.00
Lianawaty Suwono 2,021,880 25 0.00
Santoso 2,422,053 30 0.00
Vera Eve Lim 1,912,261 24 0.00
Haryanto Tiara Budiman 561,695 7 0.00
Frengky Chandra Kusuma 1,891,049 24 0.00
John Kosasih 504,861 6 0.00
Antonius Widodo Mulyono 130,780 2 0.00
Public shareholders**) 55,370,227,597 692,129 44.92
123,275,050,000 1,540,939 100.00
*) The shareholders of PT Dwimuria Investama Andalan are Mr. Robert Budi Hartono and Mr. Bambang Hartono, therefore the ultimate shareholders of the
Bank are Mr. Robert Budi Hartono and Mr. Bambang Hartono.
**) In the composition of shares held by the public, there was 2.49% shares owned by parties affiliated with PT Dwimuria Investama Andalan.
26. ADDITIONAL PAID-IN CAPITAL
Additional paid-in capital as of 31 December 2024 and 2023 are as follows:
2024 2023
Additional paid-in capital from share capital
payments 29,453,007 29,453,007
Elimination of accumulated loss through
quasi-reorganisation on 31 October 2000*) (25,853,162) (25,853,162)
Additional paid-in capital from the exercise of
stock options 296,088 296,088
Additional paid-in capital from treasury stock
transactions (Note 1c) 1,815,435 1,815,435
Difference in values from business combination
transaction of entities under common control
(Note 2e) (162,391) (162,391)
5,548,977 5,548,977
*)
On 31 October 2000, the Bank adopted SFAS No. 51, “Accounting for Quasi-Reorganisation” to achieve a “fresh start” reporting. Fresh start
reporting requires the revaluation of all its assets and liabilities recorded by using the fair value and elimination of its accumulated deficit.
Pursuant to the implementation of quasi-reorganisation, the Bank’s accumulated losses as of 31 October 2000 amounted to Rp 25,853,162
had been eliminated against the additional paid-in capital. The implementation of quasi-reorganisation had been approved by Bank Indonesia
through its Letter No. 3/165/DPwB2/IDWB2 dated 21 February 2001 and by the shareholders in their Extraordinary General Meeting of
Shareholders on 12 April 2001 (the minutes of meeting drawn up by Notary Hendra Karyadi, S.H., in Notary Deed No. 25).
2024 Annual Report PT Bank Central Asia Tbk 637
Page 640
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/93
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
27. COMMITMENTS AND CONTINGENCIES
As of 31 December 2024 and 2023, the Group commitments and contingencies were as follows:
2024 2023
Amount in Amount in
Type of foreign Rupiah foreign Rupiah
Currencies currencies*) equivalent currencies*) equivalent
Commitments
Committed receivables:
Borrowing facilities received
and unused Rupiah 1,912,490 4,441,202
USD 60,000,000 965,700 53,558,000 824,633
2,878,190 5,265,835
Others Rupiah 406,294 382,291
USD 7,329,059 117,961 6,273,856 96,599
524,255 478,890
3,402,445 5,744,725
Committed liabilities:
Unused credit facilities to
customers - committed Rupiah 290,674,248 266,143,321
USD 1,663,976,586 26,781,703 1,455,764,966 22,414,413
Others,
USD equivalent 46,672,341 751,191 50,693,287 780,524
318,207,142 289,338,258
Unused credit facilities to
other banks - committed Rupiah 2,402,770 420,456
USD 555,556 8,942 555,556 8,554
2,411,712 429,010
Irrevocable Letters of
Credit facilities to
customers Rupiah 2,368,497 2,586,435
USD 385,002,020 6,196,608 6,700,639
Others,
USD equivalent 92,600,368 1,490,403 128,113,202 1,972,559
10,055,508 11,259,633
Others Rupiah 866,726 777,109
USD 13,960,128 224,688 6,101,783 93,949
Others,
USD equivalent - - - -
1,091,414 871,058
331,765,776 301,897,959
Contingencies
Contingent receivables:
Bank guarantees received Rupiah 529,573 558,910
USD - - 11,651 179
529,573 559,089
Contingent liabilities:
Bank guarantee issued
to customers Rupiah 21,381,921 17,937,926
USD 323,378,273 5,204,773 297,968,974 4,587,828
Others,
USD equivalent 8,639,700 139,056 14,519,311 223,554
26,725,750 22,749,308
Others Rupiah 89 89
26,725,839 22,749,397
*)
Total in full amount.
638 PT Bank Central Asia Tbk 2024 Annual Report
Page 641
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/94
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
27. COMMITMENTS AND CONTINGENCIES (continued)
Additional information
As of 31 December 2024 and 2023, the Group had unused credit facilities to customers -
uncommitted amounting to Rp 93,421,932 and Rp 91,068,656, respectively.
As of 31 December 2024 and 2023, the Group had unused credit facilities to other Banks -
uncommitted amounting to Rp nil and Rp nil, respectively.
The Bank is a party to various unresolved legal actions, administrative proceedings, and claims
in the ordinary course of its business. It is not possible to predict with certainty whether or not
the Bank will be successful in any of these legal matters or, if not, what the impact might be.
However, the Bank’s management does not expect that the results in any of these proceedings
will have a material adverse effect on the Bank’s results of operations, financial position or
liquidity.
Commitments and contingencies from related parties are disclosed in Note 46.
28. INTEREST AND SHARIA INCOME
Interest and sharia income consist of:
2024 2023
Interest income
Loan receivable 63,092,902 54,143,689
Investment securities 22,259,179 17,716,461
Consumer financing receivables and finance lease
receivables 3,594,918 3,266,996
Securities purchased under agreements to resell 2,542,353 8,571,096
Placements with Bank Indonesia and other banks 711,706 1,164,150
Bills receivable 691,152 469,923
Others 1,099,139 1,210,270
93,991,349 86,542,585
Sharia income
Sharia profit sharing 805,105 663,932
805,105 663,932
Total interest and sharia income 94,796,454 87,206,517
Included in interest income from loans receivable was interest from the effect of discounting of
impaired financial assets for the year ended 31 December 2024 and 2023 amounting to
Rp 11,364 and Rp 16,001, respectively.
Interest income from loans receivable to related parties is disclosed in Note 46.
2024 Annual Report PT Bank Central Asia Tbk 639
Page 642
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/95
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
29. INTEREST AND SHARIA EXPENSES
Interest and sharia expenses consist of:
2024 2023
Interest expenses
Deposits from customers 9,503,963 9,510,555
Guarantee premium 2,251,915 2,222,965
Debt securities issued 38,913 38,913
Deposits from other banks 82,919 72,187
Borrowings 87,713 66,961
Securities sold under agreements to repurchase 150,262 27,245
Others 21,495 16,092
12,137,180 11,954,918
Sharia expense
Sharia 395,110 314,034
Total interest and sharia expenses 12,532,290 12,268,952
Interest and sharia expenses for deposits from customers to related parties are disclosed in
Note 46.
30. FEES AND COMMISSION INCOME - NET
Represent fees and commission income related to:
2024 2023
Credit 2,428,359 2,819,768
Trade 1,112,506 1,044,181
CASA and Transactional 12,887,956 11,436,469
Wealth 863,046 741,335
Others 688,054 580,927
Total 17,979,921 16,622,680
Fees and commission expenses (2) (539)
Fees and commission income - net 17,979,919 16,622,141
Commissions from CASA and Transactional are commission income related to credit and debit
card transactions which have been reduced by costs directly related to these transactions.
Fee and commission income from loans receivable were fee and commission income related
to disbursement of loan facilities which were not an integral part of effective interest rates.
640 PT Bank Central Asia Tbk 2024 Annual Report
Page 643
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/96
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
31. NET INCOME FROM TRANSACTION AT FAIR VALUE THROUGH PROFIT OR LOSS
Net income from transaction at fair value through profit or loss consists of:
2024 2023
Interest income from financial assets measured at
fair value through profit or loss 254,702 239,727
Unrealised gains (losses) from financial assets measured
at fair value through profit or loss - net (223,207) 577,952
Realised gains (losses) on spot and derivative
transactions - net 1,300,521 652,241
Gains (losses) on sale of financial assets measured
at fair value through profit or loss – net 1,522,513 417,580
2,854,529 1,887,500
32. ADDITION (REVERSAL) OF IMPAIRMENT LOSSES ON ASSETS
2024 2023
Loans receivable (Note 12g) 2,686,810 1,910,139
Estimated losses from commitments
and contingencies (Note 22) (408,004) (66,380)
Consumer financing receivables (Note 13) 353,502 172,948
Acceptance receivables (Note 9c) 149,093 (30,449)
Sharia financing 80,802 26,687
Investment securities (Note 14) 8,070 253,674
Others 18,568 (3,570)
2,888,841 2,263,049
Recoveries on assets previously written-off (854,388) (1,206,857)
Addition (reversal) of impairment losses on assets 2,034,453 1,056,192
33. PERSONNEL EXPENSES
2024 2023
Salaries and wages 9,066,310 8,306,266
Employees' benefits and compensations 6,098,057 5,649,922
Post-employment benefits (Note 2d) 1,319,538 1,321,118
Pension plan contribution 562,400 503,244
Training 397,937 417,261
17,444,242 16,197,811
2024 Annual Report PT Bank Central Asia Tbk 641
Page 644
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/97
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
34. GENERAL AND ADMINISTRATIVE EXPENSES
2024 2023
Office supplies 5,833,053 5,582,286
Repair and maintenance 2,020,849 1,964,982
Depreciation 2,017,454 2,935,074
Communication 1,828,596 1,722,285
Promotion 1,657,278 1,630,166
Rental 1,143,353 1,029,820
Professional fees 777,296 678,770
Water, electricity and fuel 324,939 297,236
Tax 262,826 226,479
Amortisation of intangible assets - software 150,095 276,409
Computer and software 128,701 156,086
Insurance 64,510 54,757
Transportation 59,903 55,462
Research and development 33,155 129,287
Security 21,709 23,452
Others 550,425 543,088
16,874,142 17,305,639
35. BASIC AND DILUTED EARNINGS PER SHARE
Basic and diluted earnings per share are calculated based on the weighted average number
of shares outstanding during the year, as follows:
2024 2023
Net income for the year 54,836,305 48,639,122
Weighted average number of ordinary shares
outstanding on the Indonesia Stock Exchange
(in full amount) 123,275,050,000 123,275,050,000
Basic earnings per share (in full amount) 445 395
As of 31 December 2024 and 2023, there were no instruments which can potentially be
converted into ordinary shares. Therefore, diluted earnings per share is equivalent to basic
earnings per share.
36. APPROPRIATION OF NET INCOME
The Annual General Meeting of Shareholders of PT Bank Central Asia Tbk dated 14 March
2024 (minutes prepared by Christina Dwi Utami, S.H., M.Hum., M.Kn., with Minutes No.
87), resolved the appropriation of 2023 net income, as follows:
a. Net profit of 2023 amounting to Rp 486,391 will be appropriated for reserve funds.
b. Distribute cash dividends in the amount of Rp 33,284,264 (Rp 270 (full amount) per
share) to shareholders who have the right to receive cash dividends. The total cash
dividend that will be paid on 4 April 2024 is Rp 28,045,047 (the 2023 Fiscal Year interim
dividend has been paid on 20 December 2023 amounting to Rp 5,239,190).
c. Determine tantiem for members of the Board of Commissioners and Board of Directors
who serve in and during the 2023 financial year. The actual amount of tantiem paid is
Rp 765,000.
d. Determine the remaining 2023 net profit after deducting dividends as retained earnings.
642 PT Bank Central Asia Tbk 2024 Annual Report
Page 645
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/98
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
36. APPROPRIATION OF NET INCOME (continued)
In accordance with the Decree of the Board of Directors Meeting dated 8 November 2024 No.
185 regarding the Distribution of Temporary Dividends (interim dividends) for Fiscal Year
2024, the Board of Directors determines that the Bank will pay temporary dividends (interim
dividends) to shareholders for 2024 profits of Rp 50 (full amount) per share. The actual amount
of interim dividends paid is Rp 6,163,752.
The Annual General Meeting of Shareholders of PT Bank Central Asia Tbk dated 16 March
2023 (minutes prepared by Christina Dwi Utami, S.H., M.Hum., M.Kn., with Minutes No.
157), resolved the appropriation of 2022 net income, as follows:
a. Net profit of 2022 amounting to Rp 407,357 will be appropriated for reserve funds.
b. Distribute cash dividends in the amount of Rp 25,271,385 (Rp 205 (full amount) per share)
to shareholders who have the right to receive cash dividends. The total cash dividend that
will be paid on 14 April 2023 is Rp 20,956,758 (the 2022 Fiscal Year interim dividend has
been paid on 20 December 2022 amounting to Rp 4,314,627).
c. Determine tantiem for members of the Board of Commissioners and Board of Directors
who serve in and during the 2022 financial year. The actual amount of tantiem paid is
Rp 660,000.
d. Determine the remaining 2022 net profit after deducting dividends as retained earnings.
In accordance with the Decree of the Board of Directors Meeting dated 21 November 2023
No. 194 regarding the Distribution of Temporary Dividends (interim dividends) for Fiscal Year
2023, the Board of Directors determines that the Bank will pay temporary dividends (interim
dividends) to shareholders for 2023 profits of Rp 42.5 (full amount) per share. The actual
amount of interim dividends paid is Rp 5,239,190.
37. FINANCIAL INSTRUMENTS
Classification of financial assets and financial liabilities
Financial instruments have been classified based on their respective classifications. The
material accounting policies in Note 2g describe how the categories of the financial assets
and liabilities are measured and how income and expenses, including fair value gains and
losses (changes in fair value of financial instruments) are recognised.
Financial instrument valuation models
The Group measures fair values using the following hierarchy of methods:
• Level 1: inputs that are quoted prices (unadjusted) in active markets for identical
instruments that the Group can access at the measurement date;
• Level 2: inputs other than quoted prices included within level 1 that are observable,
either directly or indirectly. This category includes instruments valued using: quoted
market prices in active markets for similar instruments; quoted prices for identical or
similar instruments in markets that are not active; or other valuation techniques in which
all significant inputs are directly or indirectly observable from market data;
• Level 3: inputs that are unobservable. This category includes all instruments for which
the valuation technique includes inputs not based on observable data and these
unobservable inputs have a significant effect on the instrument’s valuation. This
category includes instruments that are valued based on quoted prices for similar
instruments for which significant unobservable adjustments or assumptions are required
to reflect differences between the instruments.
2024 Annual Report PT Bank Central Asia Tbk 643
Page 646
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/99
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
37. FINANCIAL INSTRUMENTS (continued)
Financial instrument valuation models (continued)
Fair values of financial assets and financial liabilities that are traded in active market are
based on quoted market prices. For all other financial instruments, the Bank determines
fair values using valuation techniques.
Valuation techniques include net present value and discounted cash flow models,
comparison with similar instruments for which market observable prices exist and other
valuation models. Assumptions and inputs used in valuation techniques include risk-free
interest rates, benchmark interest rate, credit spreads and other variables used in estimating
discount rates, bond prices, foreign currency exchange rates, and expected price volatilities
and correlations.
The objective of valuation techniques is to arrive at a fair value measurement that reflects the
price that would be received to sell the asset or paid to transfer the liability in an orderly
transaction between market participants at the measurement date.
The Group uses widely recognised valuation models for determining the fair values of
common and more simple financial instruments, such as interest rate and currency swaps
that used only observable market data and require little management judgment and
estimation. Observable prices or model inputs are usually available in the market for listed
debt securities and simple over-the-counter derivatives such as interest rate swaps.
Availability of observable market prices and model inputs reduces the needs for
management judgment and estimation and also reduces the uncertainty associated with
determining the fair values. Availability of observable market prices and inputs varies
depending on the products and markets and is prone to changes based on specific events
and general conditions in the financial markets.
Management judgment and estimation are usually required for selection of the appropriate
valuation models to be used, determination of expected future cash flows on the financial
instruments being valued, determination of the probability of counterparty default,
prepayments and selection of appropriate discount rates.
Valuation framework
Valuation of financial assets and financial liabilities are subject to an independent review from
the business by Group Accounting (“ACT”) and Risk Management Division. ACT is primarily
responsible for ensuring that valuation adjustments have been properly accounted for. Risk
Management Division performs an independent price validation to ensure that the Bank uses
reliable market data from independent sources, e.g., traded prices and broker quotes.
Valuation model is proposed by Risk Management Division and approved by the
management. Risk Management Division performs a periodic review of the feasibility of the
market data sources used for valuation. The market data used for price validation may include
those sourced from recent trade data involving external counterparties or third parties such as
Bloomberg, Reuters, brokers and pricing providers. The market data used should be
representative of the market as much as possible, which can evolve over time as markets and
financial instruments develop. To determine the quality of the market data inputs, factors such
as independence, relevance, reliability, availability of multiple data sources and methodology
employed by the pricing providers are taken into consideration.
644 PT Bank Central Asia Tbk 2024 Annual Report
Page 647
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/100
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
37. FINANCIAL INSTRUMENTS (continued)
Valuation of financial instruments
Financial instruments measured at fair value
The following table sets out the carrying amounts and fair values of financial instruments of
the Group, measured at fair values, and their analysis by the level in the fair value hierarchy.
2024
Carrying amount Fair value
Measured at fair
value through
Measured at fair other
value through comprehensive
profit or loss income Total Level 2
Financial assets
Financial assets at fair value - net 21,524,617 - 21,524,617 21,524,617
Investment securities - net - 98,379,739 98,379,739 98,379,739
21,524,617 98,379,739 119,904,356 119,904,356
Financial liabilities
Financial liabilities at fair value 257,613 - 257,613 257,613
257,613 - 257,613 257,613
2023
Carrying amount Fair value
Measured at fair
value through
Measured at fair other
value through comprehensive
profit or loss income Total Level 2
Financial assets
Placements with Bank Indonesia
and other banks - net - 198,245 198,245 198,245
Financial assets at fair value - net 15,058,660 - 15,058,660 15,058,660
Investment securities - net - 109,895,084 109,895,084 109,895,084
15,058,660 110,093,329 125,151,989 125,151,989
Financial liabilities
Financial liabilities at fair value 122,765 - 122,765 122,765
122,765 - 122,765 122,765
Fair value of placements with Bank Indonesia and other banks which measured at fair value
through other comprehensive income were calculated using valuation techniques based on
the Bank’s internal model, which is a discounted cash flow method. Input used in the valuation
techniques is market interest rate for money market instruments which have similar
characteristics of credit, maturity, and yield.
As of 31 December 2024 and 2023, the fair value of marketable securities classified in the
group measured at fair value through profit or loss, and the fair value of securities classified in
the group measured at fair value through other comprehensive income is based on market
prices issued by the pricing provider (Penilai Harga Efek Indonesia/"PHEI"). If this information
is not available, fair value is estimated using quoted market prices for securities that have
similar characteristics of credit, maturity, and yield.
2024 Annual Report PT Bank Central Asia Tbk 645
Page 648
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/101
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
37. FINANCIAL INSTRUMENTS (continued)
Valuation of financial instruments (continued)
Financial instruments measured at fair value (continued)
As of 31 December 2024 and 2023, the fair value of investment securities which measured at
fair value through other comprehensive income did not include the fair value of investments in
shares amounting to Rp 540,492 and Rp 451,993, respectively, which were valued at cost,
since the fair value cannot be measured reliably.
Financial instruments not measured at fair value
The following table sets out the carrying amounts and fair values of financial instruments of the
Group, which are not measured at fair values and their analysis by the level in the fair value
hierarchy.
2024
Carrying value Fair value
Amortised cost Total Level 2 Level 3 Total
Financial assets
Loans receivables - net 868,686,210 868,686,210 25,116,622 852,431,302 877,547,924
Consumer financing receivables - net 9,435,564 9,435,564 - 9,135,934 9,135,934
Finance lease receivables - net 51,042 51,042 - 48,459 48,459
Assets related to sharia transaction -
murabahah receivables - net 1,924,884 1,924,884 - 1,924,884 1,924,884
Investment securities - net 272,231,726 272,231,726 271,130,953 - 271,130,953
1,152,329,426 1,152,329,426 296,247,575 863,540,579 1,159,788,154
Financial liabilities
Deposits from customers 1,120,613,667 1,120,613,667 1,120,613,667 - 1,120,613,667
Sharia deposits 3,935,363 3,935,363 3,935,363 - 3,935,363
Finance lease liabilities 302,470 302,470 302,470 - 302,470
Deposits from other banks 3,656,298 3,656,298 3,656,298 - 3,656,298
Borrowings 2,242,516 2,242,516 2,244,759 - 2,244,759
Subordinated bonds 500,000 500,000 500,000 - 500,000
1,131,250,314 1,131,250,314 1,131,252,557 - 1,131,252,557
2023
Carrying value Fair value
Amortised cost Total Level 2 Level 3 Total
Financial assets
Loans receivables - net 758,887,839 758,887,839 28,011,091 738,167,137 766,178,228
Consumer financing receivables - net 8,713,450 8,713,450 - 8,663,660 8,663,660
Finance lease receivables - net 139,007 139,007 - 138,639 138,639
Assets related to sharia transaction -
murabahah receivables - net 1,643,051 1,643,051 - 1,643,051 1,643,051
Investment securities - net 201,706,547 201,706,547 201,666,248 - 201,666,248
971,089,894 971,089,894 229,677,339 748,612,487 978,289,826
Financial liabilities
Deposits from customers 1,090,766,807 1,090,766,807 1,090,766,807 - 1,090,766,807
Sharia deposits 3,201,970 3,201,970 3,201,970 - 3,201,970
Finance lease liabilities 237,344 237,344 237,344 - 237,344
Deposits from other banks 10,070,820 10,070,820 10,070,820 - 10,070,820
Borrowings 1,629,626 1,629,626 1,631,281 - 1,631,281
Subordinated bonds 500,000 500,000 500,000 - 500,000
1,106,406,567 1,106,406,567 1,106,408,222 - 1,106,408,222
646 PT Bank Central Asia Tbk 2024 Annual Report
Page 649
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/102
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
37. FINANCIAL INSTRUMENTS (continued)
Financial instruments not measured at fair value (continued)
The financial instruments not measured at fair value are measured at amortised cost.
The following financial instruments are short-term financial instruments or financial instruments
which are re-priced periodically to current market rates, therefore, the fair values of financial
instruments are reasonable approximation of carrying value.
Financial assets:
- Cash
- Current accounts with Bank Indonesia
- Current accounts with other banks
- Placements with Bank Indonesia and other banks
- Acceptance receivables
- Bills receivables
- Securities purchased under agreements to resell
- Other assets
Financial liabilities:
- Securities sold under agreements to repurchase
- Acceptance payables
- Estimated losses from commitment and contingency
- Other liabilities
As of 31 December 2024 and 2023, the fair values of loans receivable, consumer financing
receivables, finance lease receivables and borrowings were determined using discounted
cash flows based on internal interest rate.
As of 31 December 2024 and 2023, the fair values of investment securities issued at amortised
cost based on market prices issued by pricing provider (Penilai Harga Efek Indonesia/"PHEI",
formerly Indonesia Bond Pricing Agency/ “IBPA”) If the information is not available, the fair
values were estimated using quoted market prices of securities which have similar
characteristics of credit, maturity, and yield.
As of 31 December 2024 and 2023, the fair values of deposits from customers and deposits
from other banks are the same with the carrying amount since they are payables on demand
in nature.
The fair values calculated are for disclosure purposes only and do not have any impact on the
Group’s reported financial performance or position. The fair values calculated by the Group
may be different from the actual amount that will be received or paid on the settlement or
maturity of the financial instrument. As certain categories of financial instruments are not
traded, there is management judgment and estimation involved in calculating their fair values.
38. POST-EMPLOYMENT BENEFITS OBLIGATION
In accordance with Law of the Republic of Indonesia No. 11/2020 concerning Job Creation
Act, the Bank is required to provide post-employment benefits to its employees when their
employments are terminated or when they retire. These benefits are primarily based on years
of services and the employees’ compensation at termination or retirement. These post-
employment benefits are defined benefits program.
2024 Annual Report PT Bank Central Asia Tbk 647
Page 650
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/103
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
38. POST-EMPLOYMENT BENEFITS OBLIGATION (continued)
The Bank also had a defined contribution pension plan that covers all permanent employees
who fulfilled the criteria determined by the Bank. This defined contribution pension plan is
managed and administered by Dana Pensiun BCA which was established by the Bank to
manage the assets, generate investment income and pay the post-employment benefits to
the employees. The establishment of Dana Pensiun BCA had been ratified by the Minister of
Finance of Republic of Indonesia in its Decision Letter No. KEP-020/KM.17/1995 dated
25 January 1995. The contribution to the pension plan is computed based on certain
percentage of employees’ basic salary, for which the contribution from employees and the
Bank are 3% (three percent) and 5% (five percent), respectively. During the year ended
31 December 2024 and 2023, the accumulated contributions from the Bank are 2% (two
percent) respectively, which are considered as a deduction against the post-employment
benefits obligation in accordance with the Manpower Law.
During the years ended 31 December 2024 and 2023, the Bank has set aside funds that will
be used to support the fulfilment of employee post-employment benefit obligations amounting
to Rp 752,365 and Rp 2,818, respectively. These funds were placed in several insurance
companies in the form of saving plan program and Dana Pensiun Lembaga Keuangan
(“DPLK”) in the form of Program Pensiun Untuk Kompensasi Pesangon (“PPUKP”) for the
year ended 31 December 2024, and in the forms of saving plan for the year ended 31
December 2023, which meet the criteria to be recorded as plan assets.
The defined benefit pension plan provides actuarial risk exposures to the Bank, e.g.,
investment risk, interest rate risk and inflation risk.
Post-employment benefits provided by the Bank consist of pension, other long-term
compensations in the form of long service benefits and post-employment healthcare benefits.
The post-employment benefits obligation as of 31 December 2024 and 2023 were calculated
by Kantor Konsultan Aktuaria Steven & Mourits as the Bank’s independent actuary, using the
projected-unit-credit method. The main assumptions used by independent actuary were as
follows:
2024 2023
Economic assumptions:
Annual discount rate
Defined benefit pension plan 7.15% 6.80%
Other long-term compensations – Gold 7.15% 6.80%
Other long-term compensations – Non Gold 7.15% 6.85%
Post-employment healthcare benefits – Self Insured 7.05% 6.70%
Post-employment healthcare benefits – Insurance 7.15% 6.95%
Annual basic salary growth rate 9.00% 9.00%
Annual Self-Insured claim rate 11.60% 11.50%
Healthcare cost rate 11.50% 11.50%
The discount rate is used in determining the present value of the post-employment benefits
obligation at valuation date. In general, the discount rate correlates with the yield on high
quality government bonds that are traded in active capital markets at the reporting date.
648 PT Bank Central Asia Tbk 2024 Annual Report
Page 651
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/104
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
38. POST-EMPLOYMENT BENEFITS OBLIGATION (continued)
The future basic salary growth assumption projects the post-employment benefits obligations
starting from the valuation date through the normal retirement age. The basic salary growth
rate is generally determined by applying inflation adjustment to scales of payment and by
taking into account of the years of service.
The Bank’s obligation for post-employment benefits for the years ended 31 December 2024
and 2023 were in accordance with the independent actuary reports dated 6 January 2025 and
5 January 2024, respectively.
a. Post-employment benefits obligation
The post-employment benefits obligation as of 31 December 2024 and 2023 were as
follows:
Defined benefit pension plan
and other long-term Post-employment healthcare
compensations benefits
2024 2023 2024 2023
Present value of obligation for post-
employment benefits 11,736,185 11,847,856 183,746 156,844
Fair value of plan assets (2,976,290) (3,120,458) - -
Net obligation for post-employment
benefits - Bank 8,759,895 8,727,398 183,746 156,844
The Subsidiaries’ obligation for post-employment benefits as of 31 December 2024 and
2023 which were recorded in the consolidated statements of financial position amounting
to Rp 154,068 and Rp 147,830, respectively.
b. Movement of post-employment benefits obligation
Defined benefit pension plan
and other long-term Post-employment healthcare
compensations benefits
2024 2023 2024 2023
Movement in the defined benefit obligation
Post-employment benefit obligation,
beginning of the year - Bank 8,727,398 7,273,131 156,844 137,461
Included in profit or loss
Current service cost 796,911 754,821 13,799 6,705
Past service cost - amendment (159,411) - 8,751 (12,025)
Interest cost 545,010 511,473 12,221 8,672
Termination cost 37,523 3,165 8,298 -
Liability assumed due to
recognition of past services 4,543 2,852 19,558 50
Impact of changes in attribution
method in P&L - - - -
Included in other comprehensive income
Actuarial gains (losses) arising from:
Changes in financial assumptions (225,813) (41,716) (15,864) 28,917
Changes in demographic assumptions - - - -
Experience adjustments 89,470 350,315 - 29,185
Return on plan assets excluding
interest income 52,632 187,347 25,119 -
Impact of changes in attribution
method in OCI - - - -
Others
Fund placements in insurance
companies (plan assets) (752,365) (2,818) - -
Post- employment benefits paid directly
by the Bank (356,003) (311,172) (311,172) (42,121)
Post-employment benefits obligation,
end of the year - Bank 8,759,895 8,727,398 8,727,398 156,844
2024 Annual Report PT Bank Central Asia Tbk 649
Page 652
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/105
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
38. POST-EMPLOYMENT BENEFITS OBLIGATION (continued)
b. Movement of post-employment benefits obligation (continued)
The Subsidiaries’ post-employment benefits expenses for the years ended 31 December
2024 and 2023 recorded in the profit or loss amounting to Rp 32,335 and Rp 45,405,
respectively.
During the years ended 31 December 2024 and 2023, payments for post-employment
benefits in the Subsidiaries amounting to Rp 4,324 and Rp 6,659, respectively, and the
Subsidiaries have set aside funds that will be used to support the fulfilment of post-
employment benefits obligation for each employee amounting of Rp 7,750 and Rp 6,950
by placing them with several insurance companies, which meet the criteria to be recorded
as plan assets.
c. The composition of plan assets
The composition of plan assets from pension fund for the years ended 31 December 2024
and 2023, were as follows:
Percentage allocation as of
31 December 2024 Percentage allocation as of
Quoted market price 31 December 2024
for severance program Quoted market price for DPLK PDKP
AIA Allianz Manulife AIA Allianz Manulife
Shares 0.00% 0.00% 0.00% 9,40% 9,79% 9,21%
Bonds 0.00% 37.57% 0.00% 58,83% 59,21% 70,75%
Property 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Derivatives 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Cash 100.00% 62.43% 100.00% 31,77% 31,00% 20,04%
Others 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Total 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Percentage allocation as of
31 December 2023 Percentage allocation as of
Quoted market price 31 December 2023
for severance program Quoted market price for DPLK PDKP
AIA Allianz Manulife AIA Allianz Manulife
Shares 0.00% 0.00% 0.00% 12.86% 10.37% 15.12%
Bonds 0.00% 0.00% 0.00% 69.69% 69.88% 64.52%
Property 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Derivatives 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Cash 100.00% 100.00% 100.00% 17.45% 19.75% 20.36%
Others 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Total 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
d. Changes in fair value of plan assets for post-employment program
2024 2023
Fair value of plan assets, beginning of the year - Bank 3,120,458 3,952,724
Fund placements in insurance companies 752,365 2,818
Return on plan assets excluding interest income (52,632) (187,347)
Interest income on plan assets 202,203 250,604
Post-employment benefits paid (1,046,104) (898,341)
Fair value of plan assets, end of the year - Bank 2,976,290 3,120,458
650 PT Bank Central Asia Tbk 2024 Annual Report
Page 653
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/106
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
38. POST-EMPLOYMENT BENEFITS OBLIGATION (continued)
e. Historical information - Bank:
31 December
2024 2023 2022 2021 2020 2019
Defined benefits pension plan
and other long-term compensation
Present value of post-employment
benefits obligation 11,736,185 11,847,856 11,225,855 11,800,914 12,966,647 11,724,337
Fair value of plan assets (2,976,290) (3,120,458) (3,952,724) (4,877,681) (3,664,581) (4,077,260)
Deficit 8,759,895 8,727,398 7,273,131 6,923,233 9,302,065 7,647,077
Experience adjustment on plan liabilities 89,470 350,315 13,149 (159,362) (9,914) 116,222
Experience adjustment on plan assets 53,632 187,347 159,472 (440,474) 555,010 (204,650)
Post-employment healthcare benefits
Present value of post-employment
benefits obligation 183,746 156,844 137,462 197,102 214,570 209,355
Experience adjustment on plan liabilities 25,119 29,185 14,093 (15,238) (15,955) (7,038)
f. Sensitivity analysis
Changes in 1 (one) percent of actuarial assumptions will have the following impacts:
2024
Other long-term Post-employment
Defined benefit pension plan compensations healthcare benefits
Increase Decrease Increase Decrease Increase Decrease
Discount rate (1% movement) (397,170) 443,541 (255,558) 295,487 (13,688) 19,379
Basic salary rate (1% movement) 495,259 (451,964) 305,338 (269,456) - -
Healthcare cost rate (1% movement) - - - - 16,152 (14,049)
2023
Other long-term Post-employment
Defined benefit pension plan compensations healthcare benefits
Increase Decrease Increase Decrease Increase Decrease
Discount rate (1% movement) (404,885) 449,720 (249,099) 286,212 (11,732) 15,778
Basic salary rate (1% movement) 495,698 (454,759) 286,371 (254,360) - -
Healthcare cost rate (1% movement) - - - - 13,314 (11,671)
g. Expected Maturity Analysis
Expected maturity analysis of undiscounted pension benefits and post-employment
healthcare benefits is as follows:
20 years and
Up to 10 years 10 - 20 years beyond
Pension benefit 8,004,344 3,254,667 3,761,907
Other long-term compensations 3,401,256 1,294,407 1,799,701
Post-employment healthcare benefits 149,357 72,617 146,509
h. The weighted-average of period of the defined benefits obligation, other long-term
compensations – non gold, other long-term compensations – gold, post-retirement
healthcare benefits – self insured and post-retirement healthcare benefits – insurance
were 11.89 years; 12.51 years; 15.19 years; 6.54 years; and 18.66 years as of 31
December 2024 (31 December 2023: 11.38 years; 11.98 years; 13.45 years; 7.00 years;
and 19.51 years).
39. CUSTODIAL SERVICES
The Bank’s Custodial Services Bureau obtained its license to provide custodial services from
the Capital Market and Financial Institution Supervisory Agency (Bapepam, currently Financial
Services Authority or “OJK”) under its Decision Letter No. KEP-148/PM/1991 dated 13
November 1991.
2024 Annual Report PT Bank Central Asia Tbk 651
Page 654
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/107
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
39. CUSTODIAL SERVICES (continued)
The services offered by the Bank’s Custodial Services Bureau include of custody services for
stocks, government and corporate bonds, deposits, mutual fund administrations, and cash
management contracts, which include dividend receives, rates and other rights, finishing
securities transactions, and representing account holders included as customers.
As of 31 December 2024 and 2023, assets administered by the Bank’s Custodial Services
Bureau consist of shares, bonds, deposits, commercial papers and other money market
instruments.
40. MONETARY ASSETS AND LIABILITIES IN FOREIGN CURRENCIES
Balances of monetary assets and liabilities in foreign currencies were as follows:
2024 2023
Foreign Foreign
currencies Rupiah currencies Rupiah
(in thousand) equivalent (in thousand) equivalent
Monetary assets
Cash
US Dollar (USD) 70,986 1,142,515 42,260 650,678
Australian Dollar (AUD) 6,098 61,060 17,447 183,555
Singapore Dollar (SGD) 16,093 190,613 16,182 188,941
Hong Kong Dollar (HKD) 4,338 8,992 4,709 9,280
Chinese Yuan (CNH) 7,158 15,737 9,659 20,955
GB Pound (GBP) 1,004 20,306 493 9,684
Japanese Yen (JPY) 265,867 27,392 257,749 28,064
Euro (EUR) 8,752 146,670 6,442 109,754
Others, USD equivalent 1,849 29,767 1,449 22,317
1,643,052 1,223,228
Current accounts with Bank Indonesia
US Dollar (USD) 216,181 3,479,439 254,231 3,914,389
3,479,439 3,914,389
Current accounts with other banks - net
US Dollar (USD) 74,914 1,205,737 142,447 2,193,255
Australian Dollar (AUD) 32,095 321,383 12,146 127,786
Singapore Dollar (SGD) 63,270 749,408 34,877 407,233
Hong Kong Dollar (HKD) 13,578 28,150 17,677 34,836
Chinese Yuan (CNH) 110,917 243,852 718,431 1,558,637
GB Pound (GBP) 2,095 42,357 4,100 80,459
Japanese Yen (JPY) 10,807,107 1,113,456 8,159,738 888,432
Euro (EUR) 9,233 154,733 9,224 157,154
Others, USD equivalent 10,215 164,413 6,936 106,787
4,023,489 5,554,579
Placements with Bank Indonesia and
other banks - net
US Dollar (USD) 534,394 8,601,064 463 7,123
Australian Dollar (AUD) 49,973 500,405 - -
Singapore Dollar (SGD) 59,999 710,666 89,999 1,050,857
Hong Kong Dollar (HKD) 166,315 344,790 31,811 62,691
Chinese Yuan (CNH) 124,998 274,809 184,997 401,351
Euro (EUR) 9,995 167,491 - -
10,599,225 1,522,022
652 PT Bank Central Asia Tbk 2024 Annual Report
Page 655
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/108
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
40. MONETARY ASSETS AND LIABILITIES IN FOREIGN CURRENCIES (continued)
Balances of monetary assets and liabilities in foreign currencies were as follows: (continued)
2024 2023
Foreign Foreign
currencies Rupiah currencies Rupiah
(in thousand) equivalent (in thousand) equivalent
Monetary assets (continued)
Financial assets at fair value
through profit or loss
US Dollar (USD) 22,847 367,726 236,384 3,639,600
367,726 3,639,600
Acceptance receivables - net
US Dollar (USD) 280,067 4,507,683 430,413 6,627,067
Singapore Dollar (SGD) 548 6,486 - -
Chinese Yuan (CNH) 314,834 692,163 352,314 766,297
Japanese Yen (JPY) 966,736 99,603 471,589 51,347
Euro (EUR) 14,846 248,792 148,587 2,531,673
Others, USD equivalent 1,861 29,952 3,535 54,431
5,584,679 10,030,815
Bills receivable - net
US Dollar (USD) 300,269 4,832,833 330,706 5,091,886
Chinese Yuan (CNH) 253,504 557,329 9,270 20,111
Japanese Yen (JPY) 3,392 350 10,786 1,174
Euro (EUR) 236 3,957 1,195 20,353
5,394,469 5,133,524
Loans receivable - net
US Dollar (USD) 2,427,065 39,063,609 2,675,843 41,199,949
Australian Dollar (AUD) 3,372 33,762 13 141
Singapore Dollar (SGD) 39,878 472,337 56,795 663,156
Hong Kong Dollar (HKD) - - 304,242 599,580
Euro (EUR) - - 408 6,955
39,569,708 42,469,781
Investment securities - net
US Dollar (USD) 599,316 9,645,985 624,532 9,615,920
Hong Kong Dollar (HKD) - - 115,710 228,033
9,645,985 9,843,953
Other assets - net
US Dollar (USD) 26,768 430,839 25,866 398,257
Australian Dollar (AUD) 119 1,195 - -
Singapore Dollar (SGD) 517 6,123 710 8,287
Hong Kong Dollar (HKD) 228 473 4,034 7,951
Chinese Yuan (CNH) 2,399 5,274 260 565
GB Pound (GBP) 1 14 - 1
Japanese Yen (JPY) 1,982 204 1,044 114
Euro (EUR) 72 1,205 1,017 17,331
Others, USD equivalent - 2 - 1
445,329 432,507
2024 Annual Report PT Bank Central Asia Tbk 653
Page 656
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/109
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
40. MONETARY ASSETS AND LIABILITIES IN FOREIGN CURRENCIES (continued)
Balances of monetary assets and liabilities in foreign currencies were as follows: (continued)
2024 2023
Foreign Foreign
currencies Rupiah currencies Rupiah
(in thousand) equivalent (in thousand) equivalent
Monetary liabilities
Deposits from customers
US Dollar (USD) 4,050,424 65,191,578 3,894,004 59,955,974
Australian Dollar (AUD) 79,216 793,234 53,097 558,625
Singapore Dollar (SGD) 387,116 4,585,225 377,233 4,404,702
Hong Kong Dollar (HKD) 12,491 25,895 16,389 32,298
Chinese Yuan (CNH) 723,360 1,590,307 622,275 1,350,026
GB Pound (GBP) 3,430 69,340 3,932 77,172
Japanese Yen (JPY) 10,441,676 1,075,806 8,082,641 880,038
Euro (EUR) 88,693 1,486,328 70,577 1,202,512
Others, USD equivalent 2,932 47,193 1,431 22,026
74,864,906 68,483,373
Deposits from other banks
US Dollar (USD) 86,153 1,386,640 104,729 1,612,516
Australian Dollar (AUD) 12,547 125,635 9,998 105,188
Euro (EUR) - - 2 30
Singapore Dollar (SGD) 1,592 18,861 3,926 45,839
Chinese Yuan (CNH) 275 606 99 215
1,531,742 1,763,788
Financial liabilities at fair value
through profit or loss
US Dollar (USD) 2,023 32,568 661 10,178
32,568 10,178
Acceptance payables
US Dollar (USD) 152,697 2,457,653 273,710 4,214,319
Singapore Dollar (SGD) 548 6,487 - -
Chinese Yuan (CNH) 262,802 577,769 323,844 702,579
Japanese Yen (JPY) 587,406 60,521 400,949 43,655
Euro (EUR) 11,806 197,846 12,348 210,393
Others, USD equivalent 1,901 30,590 3,623 55,777
3,330,866 5,226,723
Securities sold under agreement to
repurchase
Hong Kong Dollar (HKD) - - 41,734 82,246
- 82,246
Borrowings
US Dollar (USD) 17,747 285,632 15,125 232,885
Hong Kong Dollar (HKD) - - 71,112 140,143
Euro (EUR) 595 9,972 - -
295,604 373,028
654 PT Bank Central Asia Tbk 2024 Annual Report
Page 657
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/110
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
40. MONETARY ASSETS AND LIABILITIES IN FOREIGN CURRENCIES (continued)
Balances of monetary assets and liabilities in foreign currencies were as follows: (continued)
2024 2023
Foreign Foreign
currencies Rupiah currencies Rupiah
(in thousand) equivalent (in thousand) equivalent
Monetary liabilities (continued)
Estimated losses from commitment and
contingencies
US Dollar (USD) 15,231 245,148 15,828 243,708
Australian Dollar (AUD) 2 16 - 3
Singapore Dollar (SGD) 669 7,922 563 6,573
Hong Kong Dollar (HKD) - - 270 532
Chinese Yuan (CNH) 183 401 163 353
GB Pound (GBP) - 3 - -
Japanese Yen (JPY) 1,426 147 1,884 205
Euro (EUR) 49 819 77 1,318
Others, USD equivalent 4 60 4 54
254,516 252,746
Accruals and other liabilities
US Dollar (USD) 943 15,177 1,302 20,046
Australian Dollar (AUD) 104 1,040 11 119
Singapore Dollar (SGD) 298 3,531 59 689
Hong Kong Dollar (HKD) 1,382 2,865 3,018 5,948
Chinese Yuan (CNH) 1,003 2,205 116 252
GB Pound (GBP) 25 501 1 13
Japanese Yen (JPY) 76,362 7,868 261 28
Euro (EUR) 171 2,870 15 253
Others, USD equivalent 163 2,620 - -
38,677 27,348
41. OPERATING SEGMENTS
The Group disclosed the financial information based on the products were as follows:
2024
Loans Treasury Others Total
Assets 868,686,210 459,238,130 121,376,988 1,449,301,328
Interest and sharia income 63,092,902 26,955,707 4,747,845 94,796,454
Fee-based income and others 3,418,479 288,678 19,480,693 23,187,850
2023
Loans Treasury Others Total
Assets 758,887,839 534,025,680 115,193,491 1,408,107,010
Interest and sharia income 54,143,689 28,804,936 4,257,892 87,206,517
Fee-based income and others 4,916,215 258,012 16,517,931 21,692,158
The Group main operations are managed in Indonesian territory. Bank’s business segment is
classified into 5 (five) main geographic areas, which are Sumatera, Java, Kalimantan, East
Indonesia and overseas operation.
2024 Annual Report PT Bank Central Asia Tbk 655
Page 658
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/111
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
41. OPERATING SEGMENTS (continued)
Information regarding segment based on geographic of the Group is presented in table below:
2024
East Overseas
Sumatera Java Kalimantan Indonesia operation Total
Interest and sharia income 4,427,250 86,036,942 1,711,892 2,582,953 37,417 94,796,454
Interest and sharia expenses (565,890) (11,454,256) (195,103) (313,090) (3,951) (12,532,290)
Net interest and sharia income 3,861,360 74,582,686 1,516,789 2,269,863 33,466 82,264,164
Net fees and commissions income 1,136,562 15,562,427 461,532 816,852 2,546 17,979,919
Net income from transaction
at fair value through
profit or loss (83,918) 2,906,754 5,075 42,112 (15,494) 2,854,529
Other operating income 37,737 5,118,840 12,275 45,528 (6,451) 5,207,929
Total segment income 4,951,741 98,170,707 1,995,671 3,174,355 14,067 108,306,541
Depreciation and amortisation (44,915) (2,060,098) (20,240) (37,266) (5,030) (2,167,549)
Other material non-cash elements:
Reversal of allowance for
impairment losses on asset 179,018 (2,423,564) 141,270 67,000 1,823 (2,034,453)
Other operating expenses (1,536,804) (32,725,872) (546,303) (1,043,365) (34,345) (35,886,689)
Income before tax 3,549,040 60,961,173 1,570,398 2,160,724 (23,485) 68,217,850
Income tax expense (13,366,576)
Net income for the year 54,851,274
Assets 93,995,732 1,262,486,824 34,992,548 57,473,797 352,427 1,449,301,328
Liabilities 93,995,732 990,936,514 34,992,548 57,473,797 4,517 1,177,403,108
Loans receivable - net 38,739,422 788,949,509 16,219,497 24,777,782 - 868,686,210
Deposits from customers 92,838,676 936,118,359 34,725,741 56,930,891 - 1,120,613,667
Sharia deposits - 3,935,363 - - - 3,935,363
Temporary syirkah deposits - 9,063,133 - - - 9,063,133
2023
East Overseas
Sumatera Java Kalimantan Indonesia operation Total
Interest and sharia income 3,963,081 79,355,186 1,550,536 2,268,692 69,022 87,206,517
Interest and sharia expenses (573,101) (11,167,247) (195,437) (306,280) (26,887) (12,268,952)
Net interest and sharia income 3,389,980 68,187,939 1,355,099 1,962,412 42,135 74,937,565
Net fees and commissions income 1,029,599 14,480,749 407,310 700,711 3,772 16,622,141
Net income from transaction
at fair value through
profit or loss 53,449 1,756,021 25,012 48,202 4,816 1,887,500
Other operating income 24,505 5,015,689 7,511 26,687 (4,914) 5,069,478
Total segment income 4,497,533 89,440,398 1,794,932 2,738,012 45,809 98,516,684
Depreciation and amortisation (51,723) (3,091,741) (22,719) (39,657) (5,643) (3,211,483)
Other material non-cash elements:
Reversal of allowance for
impairment losses on asset (304,435) (741,859) (252,159) 241,515 746 (1,056,192)
Other operating expenses (1,465,271) (31,063,173) (524,237) (989,230) (27,341) (34,069,252)
Income before tax 2,676,104 54,543,625 995,817 1,950,640 13,571 60,179,757
Income tax expense (11,521,662)
Net income for the year 48,658,095
Assets 93,124,817 1,229,535,237 33,270,213 51,266,184 910,559 1,408,107,010
Liabilities 93,124,817 979,786,929 33,270,213 51,266,184 227,402 1,157,675,545
Loans receivable - net 32,404,446 690,431,115 13,653,762 21,798,936 599,580 758,887,839
Deposits from customers 91,866,574 915,420,224 32,928,122 50,551,887 - 1,090,766,807
Sharia deposits - 3,201,970 - - - 3,201,970
Temporary syirkah deposits - 7,893,872 - - - 7,893,872
656 PT Bank Central Asia Tbk 2024 Annual Report
Page 659
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/112
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
42. FINANCIAL RISK MANAGEMENT
The Bank has exposures to the following risks:
- Asset and liability risk
- Credit risk
- Liquidity risk
- Market risk
- Operational risk
- Consolidated risk
The following notes present information about the Bank’s exposure to each of the above risks,
the Bank’s objectives, policies and process which are undertaken by the Bank in measuring
and managing risk.
a. Risk management framework
The Bank recognises that in operating its business, there are inherent risks in its financial
instruments, i.e. credit risk, liquidity risk, market risk which consists of foreign exchange
risk and interest rate risk, operational risk and other risk.
In order to control those risks, the Bank implemented an integrated Risk Management
Framework which is stated in its Basic Policy of Risk Management (“KDMR”). This
framework is used as a tool for determining the strategies, organisation, policies and
guidances as well as the Bank’s infrastructures to ensure that all risks faced by the Bank
can be properly identified, measured, controlled and reported.
To implement an effective risk management, the Bank has established a Risk
Management Committee whose functions are to address overall risk issues faced by the
Bank and recommend risk management policies to the Board of Directors.
In addition to the above-mentioned committee, the Bank also has other committees which
are responsible to handle specific risks, such as: Credit Policy Committee, Credit
Committee and Asset and Liability Committee (“ALCO”).
The Bank always conducts a thorough risk assessment on management plan to release
new products and/or activities in accordance with the type of risks regulated by the
prevailing Bank Indonesia Regulations (“PBI”), Financial Services Authority Regulation
(“POJK”) and other prevailing regulations.
b. Assets and liabilities risk management
ALCO is responsible for evaluating, recommending and establishing the Bank’s funding
and investing strategies. Included in the scope of ALCO activities are managing liquidity
risk, interest rate risk and foreign exchange risk; minimising funding cost and at the same
time maintaining liquidity; and optimising the Bank’s interest income by allocating the
funds to productive assets in a prudent manner.
ALCO is chaired by the President Director (concurrently a member), with other members
consisting of 10 (ten) Directors, as well as the Executive Vice President in charge of
Treasury and International Banking, the Executive Vice President in charge of Corporate
Banking & Transactions, the Executive Vice President of CFO Office, Head of
International Banking, Head of Treasury, Head of Corporate Strategy & Planning, Head
of Corporate Banking, Transaction & Finance, Head of Commercial & SME Banking, Head
of Transaction Banking Product Development, Head of Transaction Banking Business
Development, Head of Transaction Banking Partnership Solution Development, Head of
Consumer Finance, and Head of Risk Management.
2024 Annual Report PT Bank Central Asia Tbk 657
Page 660
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/113
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
42. FINANCIAL RISK MANAGEMENT (continued)
b. Assets and liabilities risk management (continued)
The Bank’s asset and liability management process begins with an assessment of
economic parameters affecting the Bank, which primarily consist of inflation rate, market
liquidity, yield curve, US Dollar-Rupiah exchange rate, and other macroeconomic factors.
Liquidity risks, foreign currency exchange risks and interest rate risks are reviewed by the
Risk Management Division and reported to ALCO. ALCO then decides the pricing strategy
for the interest rates on deposits and loans based on the conditions and competition in
the market.
c. Credit risk management
The credit organisation is continuously being improved with an emphasis on the four eyes
principle, in which the credit decision is determined with the considerations of 2 (two)
functions, i.e. business development function and credit risk analysis function.
The Bank has Basic Policy of Bank’s Credit (“KDPB”) which are continuously being
improved, in line with the Bank’s development, PBI, POJK and in accordance with
“International Best Practices”.
The improvement on procedures and credit risk management system are conducted
through the development of “Loan Origination System” which is a policy that regulates the
workflow on loan origination process (end-to-end) in order to achieve an effective and
efficient credit process. Risk profile measurement system is continuously being developed
to determine the risk of debtor completely. The credit database development process is
also continuously being conducted and improved.
The Credit Policy Committee is responsible for formulating credit policies, especially those
that relate to prudence principles in credit, monitoring and evaluating the implementation
of credit policies so that it can be applied consistently and in accordance with credit policy,
and give advice and corrective actions to resolve problems in the implementation.
The Credit Committee was established to assist the Board of Directors in evaluating
and/or providing credit decisions in accordance with their level of authorisation through
the Credit Committee Meeting or Directors’ Circular Letter. The main functions of Credit
Committee are as follows:
• providing further guidance if a thorough and comprehensive credit analysis is needed;
• making a decision or giving a recommendation on credit proposal which submitted by
recommenders/proposer related to big debtors and specific industries; and
• coordinating with ALCO, especially when it relates with sources of funding for credits.
The Bank has developed a debtor’s risk rating system, which is known as the Internal
Credit Risk Rating/Scoring System. The Internal Credit Risk Rating/Scoring System
consists of 11 (eleven) categories of risk rating ranging from RR1 to RR10, and the worst
(Loss). The Bank also implements debtor risk rating system for consumptive segment,
which is also called as Internal Credit Risk Scoring System, consists of 10 (ten) risk rating
categories ranging from RR1 (the best/the lowest) to RR10 (the worst/the highest).
Debtor’s risk rating provides an authorised officer with valuable input for a better and more
appropriate credit decision.
658 PT Bank Central Asia Tbk 2024 Annual Report
Page 661
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/114
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
42. FINANCIAL RISK MANAGEMENT (continued)
c. Credit risk management (continued)
To maintain the credit quality, monitoring over credit quality is performed regularly on each
credit category (Corporate, Commercial, Small & Medium Enterprise (“SME”) and
Consumer) as well as to overall credit portfolio. The Bank also sets limits in loans so that
it can maintain the suitability of credit extension with the Bank's risk appetite and prevailing
regulations.
The Bank has developed credit risk management tools through credit portfolio stress
testing analysis and monitoring the results of such stress testing. Stress testing is used
by the Bank as a tool to estimate the impact of stressful condition in order to enable the
Bank creating appropriate strategies to mitigate the risks as part of its contingency plan
implementation.
The Bank has developed credit risk management tools through credit portfolio stress
testing analysis and monitoring the results of such stress testing. Stress testing is used
by the Bank as a tool to estimate the impact of stressful condition in order to enable the
Bank creating appropriate strategies to mitigate the risks as part of its contingency plan
implementation.
The Bank has developed the necessary infrastructure for calculation of Risk Weighted of
Assets (“RWAs”) Considering Credit Risk using a standard approach that have been
effectively implemented in January 2023 in accordance with SEOJK No.
24/SEOJK.03/2021.
In order to monitor and control credit risk of the Subsidiaries, the Bank monitors the
Subsidiaries’ credit risk regularly, to ensure that the Subsidiaries have a good and
effective Credit Risk Management Policy.
With the end of the OJK relaxation on the impact of COVID-19 disaster in late March 2024.
Nevertheless, BCA continues to monitor debtors who have previously obtained
restructuring of COVID-19, with the measures taken by the Bank:
1. Monitoring regularly and proactively to see the progress of restructured debtors, as
well as maintaining good relationships with debtors.
2. Continue to provide new and additional loans while still paying attention to the Bank's
prudential principles and being more selective, including by paying attention to the
introduction of potential debtors, their industrial sectors, financial conditions and good
business prospects, and collateral requirements.
3. Carry out more routine coordination between related work units at the head office,
including the Board of Directors, together with regional offices and branch offices to
speed up the necessary steps and find solutions to problems faced in the debtor credit
process.
i. Maximum exposure to credit risk
For financial assets recognised in the consolidated statements of financial position,
the maximum exposure to credit risk generally equals their carrying amount. For bank
guarantees and irrevocable Letters of Credit issued, the maximum exposure to credit
risk is the maximum amount that the Bank would have to pay if the obligations of the
bank guarantees and irrevocable Letters of Credit issued are called upon. For credit
commitments, the maximum exposure to credit risk is the full amount of the unused
committed loan facilities granted to customers.
2024 Annual Report PT Bank Central Asia Tbk 659
Page 662
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/115
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
42. FINANCIAL RISK MANAGEMENT (continued)
c. Credit risk management (continued)
i. Maximum exposure to credit risk (continued)
The following table presents maximum exposure to the Group’s credit risk of financial
instruments in the consolidated statements of financial position (on-balance sheet)
and consolidated administrative accounts (off-balance sheet).
2024 2023
Consolidated financial position:
Current accounts with Bank Indonesia 36,408,142 92,617,705
Current accounts with other banks - net 4,097,199 5,614,353
Placements with Bank Indonesia and
other banks - net 15,714,884 5,201,661
Financial assets at fair value through
profit or loss 21,524,617 15,058,660
Acceptance receivables - net 9,621,047 14,659,624
Bills receivable - net 8,891,769 10,383,524
Securities purchased under agreements
to resell - net 1,449,562 93,096,153
Loans receivable - net 868,686,210 758,887,839
Consumer financing receivables - net 9,435,564 8,713,450
Finance lease receivables - net 51,042 139,007
Assets related to sharia transactions -
murabahah receivables - net 1,924,884 1,643,051
Investment securities - net 371,151,957 312,053,624
Other assets - net
Accrued interest income 8,326,105 7,289,568
Transactions related to ATM and
credit card 3,906,220 6,332,552
Unaccepted bills receivable 163,769 112,738
Receivables from customer transactions 341,152 485,157
Receivables from insurance transactions 588,163 656,060
Others 390,568 74,555
1,362,672,854 1,333,019,281
Consolidated administrative account - net:
Unused credit facilities to
customers - committed 315,308,816 286,036,900
Unused credit facilities to
other banks - committed 2,411,712 429,010
Irrevocable Letters of Credit facilities 10,009,892 11,206,964
Bank guarantees issued to customers 26,694,505 22,731,661
354,424,925 320,404,535
1,717,097,779 1,653,423,816
660 PT Bank Central Asia Tbk 2024 Annual Report
Page 663
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/116
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
42. FINANCIAL RISK MANAGEMENT (continued)
c. Credit risk management (continued)
ii. Concentration of credit risk analysis
The Bank encourages the diversification of its credit portfolio among a variety of
geographic area, industries and credit products in order to minimise the credit risk.
The concentration of loans by type of loan, currency and economic sector is
disclosed in Note 12.
Based on counterparty
The following table presents concentration of credit risk of the Group by counterparty:
2024
Government
and Bank
Corporate Indonesia Bank Individual Total
Consolidated financial position:
Current accounts with Bank Indonesia - 36,408,142 - - 36,408,142
Current accounts with other banks - - 4,097,837 - 4,097,837
Placement with Bank Indonesia and
other banks - 8,646,539 7,070,057 - 15,716,596
Financial assets at fair value through
profit or loss 555,573 20,804,466 164,578 - 21,524,617
Acceptance receivables 9,508,319 799 541,930 10,694 10,061,742
Bills receivable 640,986 - 8,253,899 - 8,894,885
Securities purchased under agreements
to resell - 47,809 1,366,281 36,513 1,450,603
Loans receivable 614,612,475 5,500,000 25,116,622 256,081,756 901,310,853
Consumer financing receivables 633,718 - 165 9,164,965 9,798,848
Finance lease receivables 50,660 - - 895 51,555
Assets related to sharia transactions -
murabahah receivables 820,454 - - 1,118,269 1,938,723
Investment securities 46,780,829 317,652,887 7,270,807 - 371,704,523
Other assets
Accrued interest income 2,846,813 4,483,982 203,850 791,460 8,326,105
Transactions related to ATM and
credit card 3,906,220 - - - 3,906,220
Unaccepted bills receivable 164,760 - - - 164,760
Receivables from customer transactions 55,625 - - 285,527 341,152
Receivables from insurance transactions 526,773 - 25,015 36,375 588,163
Others 351,231 - - 61,540 412,771
Total 681,454,436 395,544,624 54,111,041 267,587,994 1,396,698,095
Less:
Allowance for impairment losses (34,025,241)
1,362,672,854
Commitments and contingencies with
credit risk:
Unused credit facilities - committed 260,424,847 - 2,411,462 57,782,545 320,618,854
Irrevocable Letters of Credit facilities 10,053,228 - - 2,280 10,055,508
Bank guarantees issued to customers 24,926,592 - 807,284 991,874 26,725,750
Total 295,404,667 - 3,218,746 58,776,699 357,400,112
Less:
Allowance for impairment losses (2,975,187)
354,424,925
2024 Annual Report PT Bank Central Asia Tbk 661
Page 664
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/117
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
42. FINANCIAL RISK MANAGEMENT (continued)
c. Credit risk management (continued)
ii. Concentration of credit risk analysis (continued)
Based on counterparty (continued)
The following table presents concentration of credit risk of the Group by counterparty:
(continued)
2023
Government
and Bank
Corporate Indonesia Bank Individual Total
Consolidated financial position:
Current accounts with Bank Indonesia - 92,617,705 - - 92,617,705
Current accounts with other banks - - 5,615,252 - 5,615,252
Placement with Bank Indonesia and
other banks - 751,891 4,450,454 - 5,202,345
Financial assets at fair value through
profit or loss 746,277 14,183,900 128,483 - 15,058,660
Acceptance receivables 14,234,147 285 705,553 2,754 14,942,739
Bills receivable 636,068 - 9,751,972 - 10,388,040
Securities purchased under agreements
to resell - 88,641,048 4,420,689 35,414 93,097,151
Loans receivable 535,931,754 538,895 28,011,091 227,714,974 792,196,714
Consumer financing receivables 441,739 - 24 8,599,633 9,041,396
Finance lease receivables 136,124 - - 4,282 140,406
Assets related to sharia transactions -
murabahah receivables 875,555 - - 779,027 1,654,582
Investment securities 39,612,884 264,597,502 8,387,718 - 312,598,104
Other assets
Accrued interest income 2,279,748 4,084,056 214,214 711,550 7,289,568
Transactions related to ATM and
credit card 6,332,552 - - - 6,332,552
Unaccepted bills receivable 112,938 - - - 112,938
Receivables from customer transactions 219,186 - - 265,971 485,157
Receivables from insurance transactions 607,009 - 12,757 36,294 656,060
Others 77,376 - - - 77,376
Total 602,243,357 465,415,282 61,698,207 238,149,899 1,367,506,745
Less:
Allowance for impairment losses (34,487,464)
1,333,019,281
Commitments and contingencies with
credit risk:
Unused credit facilities - committed 231,689,526 3,961,105 429,010 53,687,627 289,767,268
Irrevocable Letters of Credit facilities 11,259,633 - - - 11,259,633
Bank guarantees issued to customers 20,958,545 - 768,491 1,022,272 22,749,308
Total 263,907,704 3,961,105 1,197,501 54,709,899 323,776,209
Less:
Allowance for impairment losses (3,371,674)
320,404,535
662 PT Bank Central Asia Tbk 2024 Annual Report
Page 665
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/118
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
42. FINANCIAL RISK MANAGEMENT (continued)
c. Credit risk management (continued)
iii. Credit risk analysis
The following table presents the financial assets classified into stage 1, stage 2 and
stage 3:
2024
Carrying Value
Stage 1 Stage 2 Stage 3 Total
Measured at amortised cost:
Current accounts with Bank Indonesia 36,408,142 - - 36,408,142
Current accounts with other banks - net 4,097,199 - - 4,097,199
Placement with Bank Indonesia
and other banks - net 15,714,884 - - 15,714,884
Acceptance receivables - net 9,619,854 905 288 9,621,047
Bills receivables - net 8,891,768 - 1 8,891,769
Securities purchased under
agreements to resell - net 1,449,562 - - 1,449,562
Loans receivable - net 852,946,444 10,448,386 5,291,380 868,686,210
Investment securities - net 272,215,470 16,256 - 272,231,726
Consumer financing receivables - net 9,253,219 68,484 113,861 9,435,564
Finance lease receivables - net 48,774 81 2,187 51,042
Assets related to sharia
transactions - murabahah
receivables - net 1,897,288 22,348 5,248 1,924,884
Other assets - net
Accrued interest income 8,326,105 - - 8,326,105
Transactions related to ATM and
credit card 3,906,220 - - 3,906,220
Unaccepted bills receivable 163,769 - - 163,769
Receivables from customer transactions 341,152 - - 341,152
Receivables from insurance transactions 588,163 - - 588,163
Others 350,180 11,315 29,073 390,568
1,226,218,193 10,567,775 5,442,038 1,242,228,006
Measured at fair value
through profit or loss (FVPL):
Financial assets at fair value
through profit or loss 21,524,617 - - 21,524,617
21,524,617 - - 21,524,617
Measured at fair value through other
comprehensive income (FVOCI):
Investment securities - net 98,882,721 22,808 14,702 98,920,231
98,882,721 22,808 14,702 98,920,231
1,346,625,530 10,590,584 5,456,740 1,362,672,854
2024 Annual Report PT Bank Central Asia Tbk 663
Page 666
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/119
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
42. FINANCIAL RISK MANAGEMENT (continued)
c. Credit risk management (continued)
iii. Credit risk analysis (continued)
The following table presents the financial assets classified into stage 1, stage 2 and
stage 3: (continued)
2023
Carrying Value
Stage 1 Stage 2 Stage 3 Total
Measured at amortised cost:
Current accounts with Bank Indonesia 92,617,705 - - 92,617,705
Current accounts with other banks - net 5,614,353 - - 5,614,353
Placement with Bank Indonesia
and other banks - net 5,003,416 - - 5,003,416
Acceptance receivables - net 14,601,986 21,975 35,663 14,659,624
Bills receivables - net 10,383,524 - - 10,383,524
Securities purchased under
agreements to resell - net 93,096,153 - - 93,096,153
Loans receivable - net 744,413,069 9,786,032 4,688,738 758,887,839
Investment securities - net 201,690,291 16,256 - 201,706,547
Consumer financing receivables - net 8,501,838 68,000 143,612 8,713,450
Finance lease receivables - net 137,557 384 1,066 139,007
Assets related to sharia
transactions - murabahah
receivables - net 1,635,705 7,346 - 1,643,051
Other assets - net
Accrued interest income 7,289,568 - - 7,289,568
Transactions related to ATM and
credit card 6,332,552 - - 6,332,552
Unaccepted bills receivable 112,738 - - 112,738
Receivables from customer transactions 485,157 - - 485,157
Receivables from insurance transactions 656,060 - - 656,060
Others 74,555 - - 74,555
1,192,646,227 9,899,993 4,869,079 1,207,415,299
Measured at fair value
through profit or loss (FVPL):
Financial assets at fair value
through profit or loss 15,058,660 - - 15,058,660
15,058,660 - - 15,058,660
Measured at fair value through other
comprehensive income (FVOCI):
Placement with Bank Indonesia
and other banks - net 198,245 - - 198,245
Investment securities - net 110,321,247 25,830 - 110,347,077
110,519,492 25,830 - 110,545,322
1,318,224,379 9,925,823 4,869,079 1,333,019,281
Classification of Financial Assets
The classification of financial assets is based on a business model and tests of cash
flows characteristics (Solely Payment of Principal & Interest (“SPPI”)), The Bank's
financial assets are classified as follows:
- Fair Value Through Profit/Loss (“FVPL”)
- Fair Value Through Other Comprehensive Income (“FVOCI”)
- Amortised Cost
664 PT Bank Central Asia Tbk 2024 Annual Report
Page 667
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/120
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
42. FINANCIAL RISK MANAGEMENT (continued)
c. Credit risk management (continued)
iii. Credit risk analysis (continued)
Measurement of Expected Credit Loss
The calculation of Bank provisions refers to SFAS 109 which introduces the expected
credit loss method to measure the loss of a financial instrument resulting from the
impairment of financial instruments, SFAS 109 requires immediate recognition for the
impact of expected credit loss changes after initial recognition of the financial asset,
If at the reporting date, credit risk on a financial instrument has not increased
significantly since initial recognition, the Bank shall measure the allowance for losses
for that financial instrument at the amount of 12 (twelve) months expected losses, The
Bank shall measure the allowance for losses on a financial instrument at the amount
of expected credit losses over its lifetime, if the credit risk on that financial instrument
has increased significantly since initial recognition,
The Bank develops risk parameter modelling such as PD (Probability of Default), LGD
(Loss Given Default) and EAD (Exposure at Default) which are used as components
for calculating expected credit losses,
Staging Criteria
SFAS 109 requires entity to classify financial instruments into three stages of
impairment (stage 1, stage 2, and stage 3) by determining whether there is a significant
increase in credit risk,
The Bank measures the allowance for losses of an expected 12 months credit loss for
financial assets with low credit risk at the reporting date (stage 1) and lifetime credit
losses for financial assets with a significant increase in credit risk (stage 2),
At each reporting date, the Bank assesses whether the credit risk of the financial
instrument has increased significantly (“SICR”) since initial recognition, In making that
assessment, the Bank compares the risk of default on initial recognition and considers
the reasonable and supportable information available without undue cost or effort,
which is an indication of a significant increase in credit risk (“SICR”) since initial
recognition,
In general, financial assets with arrears of 30 days or more and not yet experiencing
an impairment will always be considered to have significant increase credit risk
(“SICR”),
Financial assets are only considered impaired and expected credit losses over their
lifetime are recognised, if there is observable objective evidence of impairment,
including, among others, default or experiencing significant financial difficulties,
2024 Annual Report PT Bank Central Asia Tbk 665
Page 668
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/121
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
42. FINANCIAL RISK MANAGEMENT (continued)
c. Credit risk management (continued)
iii. Credit risk analysis (continued)
Forward-looking Information
In calculating expected credit losses, the Bank considers the effect of the
macroeconomic forecast, In addition, the Bank also determines a probability weighted
for the possibility of such macro scenario,
Various macroeconomic variables (“MEV”) are used in the modelling of SFAS 109
depending on the results of statistical analysis of the suitability of the MEV with
historical data for impairment model development, The calculation of the expected
credit loss and the macroeconomic forecast (“MEV”) are reviewed by the Bank
periodically, MEV used by the Bank includes GDP, inflation rate, exchange rate and
others,
Related to the COVID-19 pandemic which has created global and domestic economic
uncertainty, the Bank continues to identify and monitor on an ongoing basis and stay
alert to keep making allowances for impairment losses if debtors who have
restructured perform well initially, is expected to decline due to the impact of COVID-
19 and are unable to recover after the restructuring/impact of COVID-19,
Individually impaired financial assets
Individually impaired financial assets are financial assets that are individually
significant and there is objective evidence that impairment loss has incurred after
initial recognition of the financial assets,
Based on the Bank’s internal policy, loans that are determined to be individually
significant are loans to corporate and commercial debtors,
Individual measurements are made by considering the difference between all
contractual cash flows that are due to the entity in accordance with the contract and
all cash flows that the Bank expects to receive (i,e, all cash shortfalls), discounted
with the effective interest rate,
Financial assets that are not individually significant and assessed for collective
impairment
Financial assets that are not individually significant consist of loans and receivables
of the Group to retail debtors, i,e, Small & Medium Enterprise (“SME”) debtors,
consumer financing receivables (including joint financing) debtors, mortgage and its
housing renovation loans, vehicle loans and credit card,
The Group determines that impairment losses of financial assets that are not
individually significant are assessed collectively, by grouping those financial assets
based on similar risk characteristics,
Collective measurement is done statistically using the parameters PD (Probability of
Default), LGD (Loss Given Default) and EAD (Exposure at Default),
666 PT Bank Central Asia Tbk 2024 Annual Report
Page 669
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/122
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
42. FINANCIAL RISK MANAGEMENT (continued)
c. Credit risk management (continued)
iii. Credit risk analysis (continued)
Financial assets that are past due and impaired
Receivables that are due are all receivables that are past due for more than 90
(ninety) days, either for principal payments and/or interest payments, Meanwhile,
impaired receivables are financial assets that have significant value individually and
there is objective evidence that individual impairment occurs after the initial
recognition of the financial assets,
In accordance with the quality, loans, acceptances, and bills receivable are grouped
into 3 (three) categories, namely high grade, standard grade, and low grade, based
on the Bank's internal estimate of probability defaults on certain debtors or portfolios
which are assessed based on a number of qualitative and quantitative factors,
Loans, acceptances and bills receivable with a rating scale internal risk RR1 through
RR7 according to the internal credit risk rating/scoring system is included in the high
grade category, High category grade is a loan whose debtor has a strong capacity in
terms of repayment of all obligations in a timely manner because they are supported
by Appropriate or solid sound fundamental factors and are not easily influenced by
changes in unfavourable economic conditions,
Loans, acceptances and bills receivable with a rating scale internal risks RR8 through
RR9 according to the internal credit risk rating/scoring system are included in the
standard grade category, Standard grade category is a loan whose debtor is deemed
to have adequate capacity in terms of interest and principal payments, but is quite
sensitive against changes in unfavourable economic conditions,
Loans, acceptances and notes receivable with a rating scale internal risk RR10 and
loss according to the internal credit risk rating/scoring system are included in the low
grade category, Low grade category is a loan whose debtor is vulnerable in terms of
interest and principal payment capacity due to unfavourable fundamental factors
and/or very sensitive to unfavourable economic conditions,
iv. Collateral
Collateral is held to mitigate credit risk exposures and risk mitigation policies determine
the eligibility of collateral types that can be accepted by the Bank, The Bank
differentiates collateral types based on its liquidity and existence into solid
collaterals and non-solid collaterals, Solid collaterals are collaterals which have
relatively high liquidity value and/or the existence is permanent (is not easily moved)
i,e,, cash collaterals and land/building, and therefore, the collaterals can be
repossessed or taken over by the Bank when the loan to debtor/group debtor
becomes non-performing, Non-solid collaterals are collaterals which have relatively low
liquidity value and/or the existence is temporary (easily moveable) i,e,, vehicles,
machineries, inventories, receivables, etc, As of 31 December 2024 and 2023, the
Bank held collaterals against loans receivables in the form of cash, properties
(land/building), motor vehicles, guarantees, machineries, inventories, debt securities,
etc,
2024 Annual Report PT Bank Central Asia Tbk 667
Page 670
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/123
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
42. FINANCIAL RISK MANAGEMENT (continued)
c. Credit risk management (continued)
iv. Collateral (continued)
The Bank’s policy in connection with collateral as mitigation of credit risk depends
on the credit category or facilities provided, For SME loans, all loans should be
supported with collateral (collateral based lending) whereby at least 50% (fifty percent)
of it are solid collaterals, For corporate and commercial loans, the collateral values
are determined based on analysis of the individual debtor credit worthiness, The
collateral value is determined based on the appraisal value at the time of loan
approval and periodically reviewed,
For mortgage facility (“KPR”), the Bank requires that all facilities should be supported
by collateral properties (land/building), The Bank applies the Loan-to-Value (“LTV”)
regulation gradually, starting from the first mortgage facility and so forth, in
accordance with the rules imposed by the regulator, Value of the collateral for KPR
is calculated based on the collateral value when credit is granted and renewed
every 30 (thirty) months, For auto loan facility (“KKB”), the Bank requires that all
facilities should be supported by collateral vehicles, The Bank applied the down
payment rule, in accordance with the regulation imposed by the regulator,
Subsidiaries’ consumer financing receivables are secured by the related
certificates of ownership (“BPKB”) of the vehicles being financed,
For foreign exchange transactions, either spot or forward, the Bank requires cash
collaterals which are set at a certain percentage of facility provided, If the debtor
has other credit facilities in the Bank, the debtor may use the collateral that has been
given previously to be crossed with each other, The policy on percentage of the
required collateral will be reviewed periodically, in line with the fluctuation and volatility
of Rupiah currency to foreign currency exchange rate,
Details of financial and non-financial assets obtained by the Bank during the year by
taking possession of collaterals held as security against financial assets as of
31 December 2024 and 2023, presented in other assets at the lower of carrying
amount and net realisable value, were as follows:
2024 2023
Land 169,858 111,780
Building 1,454,484 1,491,158
Other commercial properties 170,326 56,439
Fair value 1,794,668 1,659,377
The Bank generally does not use repossessed non-cash foreclosed assets for its
own operations, The Bank’s policy is to realise foreclosed assets as part of the
settlement of credit,
668 PT Bank Central Asia Tbk 2024 Annual Report
Page 671
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/124
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
42. FINANCIAL RISK MANAGEMENT (continued)
c. Credit risk management (continued)
iv. Collateral (continued)
As of 31 December 2024 and 2023, foreclosed assets owned by the Subsidiaries
amounting to Rp 64,552 and Rp 47,990, respectively,
v. Financial assets measured at fair value through profit or loss
As of 31 December 2024 and 2023, the Group had financial assets measured at the
fair value through profit or loss amounting to Rp 21,524,617 and Rp 15,058,660,
respectively (Note 8), Information on credit quality of the maximum exposure to
credit risk of financial assets at fair value through profit or loss) was as follows:
2024 2023
Government securities:
Investment grade 20,799,789 14,183,900
Corporate bonds:
Investment grade 242,150 135,689
Derivative assets:
Other banks as counterparties 2,289 71,298
Corporates as counterparties 218,919 146,216
Others 261,470 521,557
Fair value 21,524,617 15,058,660
vi. Investment securities
As of 31 December 2024 and 2023, the Group had investment securities at the
carrying value amounting to Rp 371,151,957 and Rp 312,053,624, respectively
(Note 14). Information on credit quality of the maximum exposure to credit risk of
investment securities was as follows:
2024 2023
Government securities:
Investment grade 322,134,558 266,017,517
Corporate bonds:
Investment grade 33,407,575 32,562,414
Non-Investment grade 3,788 42,086
Others 15,606,036 13,431,607
Carrying value 371,151,957 312,053,624
2024 Annual Report PT Bank Central Asia Tbk 669
Page 672
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/125
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
42. FINANCIAL RISK MANAGEMENT (continued)
d. Liquidity risk management
The following table presents the undiscounted contractual cash flows of financial liabilities
and administrative accounts of the Group based on remaining period to contractual maturity
as of 31 December 2024 and 2023:
2024
Gross nominal
Carrying inflow/ >1-3 > 3 months - >1–5 >5
value (outflow) Up to 1 month months 1 year years years
Non-derivative financial liabilities
Deposits from customers (1,120,613,667) (1,120,871,522) (1,073,604,905) (42,976,722) (4,289,895) - -
Sharia deposits (3,935,363) (3,935,460) (3,935,460) - - - -
Deposits from other banks (3,656,298) (3,656,327) (3,621,195) (35,132) - - -
Acceptance payables (4,651,955) (4,651,955) (1,953,035) (1,784,655) (902,423) (11,842) -
Securities sold under agreements
to repurchase (1,330,996) (1,330,996) (1,330,996) - - - -
Borrowings (2,242,516) (2,244,833) (298,499) - (1,650,000) (296,334) -
Estimated losses from commitments
and contingencies (2,975,187) (2,975,187) (250,713) (534,449) (1,497,920) (636,589) (55,516)
Accruals and other liabilities (3,303,470) (3,303,470) (2,966,364) (23,549) (34,526) (232,750) (46,281)
Subordinated bonds (500,000) (500,296) (9,296) - (435,000) - (65,000)
(1,143,209,452) (1,143,479,046) (1,087,970,463) (45,354,507) (8,809,764) (1,177,515) (166,797)
Derivative financial liabilities
Financial liabilities at fair value
through profit or loss: (257,613)
Outflow (33,439,150) (26,618,772) (6,218,655) (601,723) - -
Inflow 33,152,453 26,411,154 6,151,332 589,967 - -
(257,613) (286,697) (207,618) (67,323) (11,756) - -
Administrative accounts
Unused credit facilities to
customers - committed (318,207,142) (318,207,142) - - - -
Unused credit facilities to
other banks - committed (2,411,712) (2,411,712) - - -
Irrevocable Letters of Credit facilities (10,055,508) (2,902,168) (5,172,370) (1,850,411) (130,559) -
Bank guarantees issued to
customers (26,725,750) (2,824,369) (6,462,513) (12,954,144) (4,477,494) (7,230)
(357,400,112) (326,345,391) (11,634,883) (14,804,555) (4,608,053) (7,230)
(1,143,467,065) (1,501,165,855) (1,414,523,472) (57,056,713) (23,626,075) (5,785,568) (174,027)
2023
Gross nominal
Carrying inflow/ >1-3 > 3 months - >1–5 >5
value (outflow) Up to 1 month months 1 year years years
Non-derivative financial liabilities
Deposits from customers (1,090,766,807) (1,091,075,101) (1,027,832,600) (57,161,198) (6,081,303) - -
Sharia deposits (3,201,970) (3,201,973) (3,201,973) - - - -
Deposits from other banks (10,070,820) (10,070,862) (10,066,730) (4,132) - - -
Acceptance payables (6,701,256) (6,701,256) (2,107,358) (3,462,693) (991,754) (139,451) -
Securities sold under agreements
to repurchase (1,054,780) (1,056,596) (1,056,596) - - - -
Borrowings (1,629,626) (1,631,732) (127,264) (174,649) (1,043,798) (286,021) -
Estimated losses from commitments
and contingencies (3,371,674) (3,371,674) (282,315) (564,629) (1,781,710) (708,138) (34,882)
Accruals and other liabilities (6,673,819) (6,673,819) (6,425,625) (27,643) (7,110) (157,943) (55,498)
Subordinated bonds (500,000) (509,296) (9,296) - - (435,000) (65,000)
(1,123,970,752) (1,124,292,309) (1,051,109,757) (61,394,944) (9,905,675) (1,726,553) (155,380)
Derivative financial liabilities
Financial liabilities at fair value
through profit or loss: (122,765)
Outflow (19,582,565) (10,875,916) (8,043,541) (663,108) - -
Inflow 19,449,061 10,821,462 7,972,699 654,900 - -
(122,765) (133,504) (54,454) (70,842) (8,208) - -
Administrative accounts
Unused credit facilities to
customers - committed (289,338,258) (289,338,258) - - - -
Unused credit facilities to
other banks - committed (429,010) (429,010 - - - -
Irrevocable Letters of Credit facilities (11,259,633) (3,980,695) (5,839,161) (1,409,549) (30,228) -
Bank guarantees issued to
customers (22,749,308) (2,190,519) (4,955,896) (12,028,167) (3,571,096) (3,630)
(323,776,209) (295,938,482) (10,795,057) (13,437,716) (3,601,324) (3,630)
(1,124,093,517) (1,448,202,022) (1,347,102,693) (72,260,843) (23,351,599) (5,327,877) (159,010)
670 PT Bank Central Asia Tbk 2024 Annual Report
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PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/126
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
42. FINANCIAL RISK MANAGEMENT (continued)
d. Liquidity risk management (continued)
The tables above were prepared based on remaining contractual maturities of the
financial liabilities and irrevocable Letters of Credit facility, while for issued guarantee
contracts and unused committed credit facility were based on its earliest possible
contractual maturity. The Bank’s and Subsidiaries’ expected cash flows from these
instruments vary significantly from the above analysis. For example, current accounts
and saving accounts are expected to have a stable or increasing balance, or unused
committed credit facility to customers/other banks are not all expected to be drawn
down immediately.
The nominal inflow and outflow disclosed in the above table represents the contractual
undiscounted cash flows relating to the principal and interest on the financial liabilities
or commitments. The disclosure for derivatives shows a gross inflow and outflow
amount for derivatives that have simultaneous gross settlement (e.g., foreign currency
forward).
Analysis on the carrying value of financial assets and liabilities based on remaining
contractual maturities as of 31 December 2024 and 2023 are disclosed in Note 43.
e. Market risk management
i. Foreign exchange risk
The Bank conducts foreign currency trading in accordance with its internal policies
and regulations from Bank Indonesia (“PBI”) regarding Net Open Position (“NOP”).
In managing its foreign exchange risk, the Bank centralises the management of its
NOP at the Treasury Division, which consolidates daily NOP reports from all
branches. In general, each branch is required to square its foreign exchange risk at
the end of each business day, although there is a NOP tolerance limit set for each
branch depending on the volume of its foreign exchange activity. The Bank prepares
its daily NOP report which combines the NOP from consolidated statements of financial
position and administrative accounts. Bank has considered Domestic Non delivery
Forward (“DNDF”) and Option transactions (Structured Product) as part of NOP
report in managing foreign exchange risk.
The Bank’s revenue from foreign currency trading is mainly obtained from customer-
related transactions and sometimes the Bank has NOP in certain amount to fulfil the
customer’s needs, in accordance with the Bank’s internal guidelines. Trading for
profit-taking purposes (proprietary trading) can only be performed for limited foreign
currencies with small limits.
The Bank’s foreign currency liabilities mainly consist of deposits and borrowings
denominated in US Dollar. To comply with the NOP regulations, the Bank maintains
its assets which consist of placements with other banks and loans receivable in USD.
To measure foreign exchange risk on trading book, the Bank uses Value at Risk
("VaR") method with Historical Simulation approach for the purpose of internal
reporting, meanwhile for the purpose of Bank's Capital Adequacy Ratio ("CAR")
report, the Bank used OJK standard method.
2024 Annual Report PT Bank Central Asia Tbk 671
Page 674
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/127
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
42. FINANCIAL RISK MANAGEMENT (continued)
e. Market risk management (continued)
i. Foreign exchange risk (continued)
Bank’s sensitivity towards foreign currency is taken into account by using NOP
information translated to major foreign currency of the Bank, which is USD. The table
below summarises the Bank’s profit before tax sensitivity on changes of foreign
exchange rate as of 31 December 2024 and 2023:
Impact on profit before tax
+5% -5%
31 December 2024 (32,644) 32,644
31 December 2023 11,926 (11,926)
Information about Bank’s NOP as of 31 December 2024 and 2023 were disclosed in
Note 51.
ii. Interest rate risk
Interest Rate Risk in the Banking Book
The calculation of interest rate risk in the banking book ("IRRBB") uses 2 (two)
perspectives, which are the economic value perspective and the earnings perspective.
It is intended so the Bank can identify risks more accurately and perform appropriate
corrective actions.
To mitigate IRRBB, the Bank has set nominal limits for fixed rate loans and banking
book securities, IRRBB limits and pricing strategies.
The measurement of IRRBB using 2 (two) methods is in accordance to Circular Letter
of OJK No. 12/SEOJK.03/2018 regarding the Implementation of Risk Management
and Standard Approach for Risk Measurement of Interest Rate Risk in Banking Book
for Conventional Banks:
a. Measurement based on the changes in the economic value of equity, which
measures the impact of changes in interest rates on the economic value of Bank
equity; and
b. Measurement based on the changes in net interest income, which measures the
impact of changes in interest rates on the Bank's earnings.
The Bank measures IRRBB for significant currencies, which are Rupiah and USD. In
total of IRRBB, the value of the two currencies is aggregated by adding up the potential
loss value of each currency for each of the same shock scenarios.
Interest Rate Risk in the Trading Book
The risk measurement is performed on Rupiah and USD which are then reported to
ALCO. To measure interest rate risk on the trading book, the Bank uses VaR method
with Historical Simulation approach for internal reporting purposes, while for the
Minimum Capital Adequacy Ratio calculation, the Bank uses OJK’s standard
approach.
672 PT Bank Central Asia Tbk 2024 Annual Report
Page 675
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/128
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
42. FINANCIAL RISK MANAGEMENT (continued)
e. Market risk management (continued)
ii. Interest rate risk (continued)
Interest Rate Risk in the Trading Book (continued)
Cash flow interest rate risk is the risk that future cash flow from financial instruments
fluctuates due to the movement in market interest rates. Fair value interest rate risk is
the risk that the fair value of financial instruments fluctuates due to the movement in
market interest rates. The Bank has exposure to the prevailing market interest rates
fluctuation, both to the fair value risk and cash flows risk. The Board of Directors have
set VaR limits for trading book to mitigate this risk, which are monitored by the Risk
Management Division on a daily basis.
The Subsidiary is exposed to interest rate risk arising from consumer financing
receivables, factoring receivables, other receivables, the issuance of fixed rate bonds
payable. The Subsidiary manages the interest rate risk by diversifying its financing
sources to find the most suitable fixed interest rate to minimise mismatch.
The table below summarises the Group financial assets and liabilities (not measured at
fair value through profit or loss) at carrying amounts, categorised by the earlier of
contractual re-pricing or maturity dates:
2024
Floating interest rate Fixed interest rate
Up to 3 > 3 months - Up to 3 > 3 months - More than 1 Non-interest
months 1 year months 1 year year bearing Total
Financial assets
Current accounts with
Bank Indonesia 27,698,665 - - - - 8,709,477 36,408,142
Current accounts with
other banks - net 4,097,199 - - - - - 4,097,199
Placements with Bank
Indonesia
and other banks - net - - 15,666,963 47,921 - - 15,714,884
Acceptance receivables - net 1,955,788 806,752 - - - 6,858,507 9,621,047
Bills receivable - net - - 7,277,349 1,614,420 - - 8,891,769
Securities purchased under
agreements to resell - net - - 1,419,546 30,016 - - 1,449,562
Loans receivable - net 576,467,962 25,747,716 4,157,149 18,869,541 243,443,842 - 868,686,210
Consumer financing
receivables - net - - 1,128,167 3,396,858 4,910,539 - 9,435,564
Finance lease
receivables - net - - 12,234 21,776 17,032 - 51,042
Assets related to sharia
transactions - murabahah
receivables - net - - 1,296,757 628,127 - - 1,924,884
Investment securities - net 14,372,963 - 13,387,463 121,488,798 221,362,242 540,491 371,151,957
Other assets - - 150,653 152,646 - 13,412,678 13,715,977
Total 624,592,577 26,554,468 44,496,281 146,250,103 469,733,655 29,521,153 1,341,148,237
Financial liabilities
Deposits from customers (919,057,475) - (197,232,396) (4,323,796) - - (1,120,613,667)
Sharia deposits - - - - - (3,935,363) (3,935,363)
Deposits from other banks (3,610,441) - (45,857) - - - (3,656,298)
Acceptance payables - - - - - (4,651,955) (4,651,955)
Securities sold under
agreements to repurchase - - (1,330,996) - - - (1,330,996)
Borrowings - - (1,946,182) - (296,334) - (2,242,516)
Estimated losses from
commitments
and contingencies - - - - - (2,975,187) (2,975,187)
Accruals and other liabilities - - - - - (3,303,470) (3,303,470)
Subordinated bonds - - - - (500,000) - (500,000)
Total (922,667,916) - (200,555,431) (4,323,796) (796,334) (14,865,975) (1,143,209,452)
Interest rate re-pricing gap (298,075,339) 26,554,468 (156,059,150) 141,926,307 468,937,321 14,655,178 197,938,785
2024 Annual Report PT Bank Central Asia Tbk 673
Page 676
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/129
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
42. FINANCIAL RISK MANAGEMENT (continued)
e. Market risk management (continued)
ii. Interest rate risk (continued)
Interest Rate Risk in the Trading Book (continued)
The table below summarises the Group financial assets and liabilities (not measured at
fair value through profit or loss) at carrying amounts, categorised by the earlier of
contractual re-pricing or maturity dates: (continued)
2023
Floating interest rate Fixed interest rate
Up to 3 > 3 months - Up to 3 > 3 months - More than 1 Non-interest
months 1 year months 1 year year bearing Total
Financial assets
Current accounts with
Bank Indonesia 74,991,659 - - - - 17,626,046 92,617,705
Current accounts with
other banks - net 5,614,353 - - - - - 5,614,353
Placements with Bank
Indonesia - - 4,540,789 660,872 - - 5,201,661
and other banks - net
Acceptance receivables - net - - - - - 14,659,624 14,659,624
Bills receivable - net - - 6,399,357 3,983,705 462 - 10,383,524
Securities purchased under
agreements to resell - net - - 36,683,658 56,412,495 - - 93,096,153
Loans receivable - net 502,104,955 25,877,534 2,721,474 15,760,539 212,423,337 - 758,887,839
Consumer financing
receivables - net - - 1,112,422 3,141,838 4,459,190 - 8,713,450
Finance lease
receivables - net - - 47,166 58,135 33,706 - 139,007
Assets related to sharia
transactions - murabahah
receivables - net - - 1,242,532 400,519 - - 1,643,051
Investment securities - net 12,549,549 - 14,675,206 70,046,022 214,330,855 451,992 312,053,624
Other assets - - 75,473 182,595 - 14,692,562 14,950,630
Total 595,260,516 25,877,534 67,498,077 150,646,720 431,247,550 47,430,224 1,317,960,621
Financial liabilities
Deposits from customers (880,501,905) - (204,436,627) (5,828,275) - - (1,090,766,807)
Sharia deposits - - - - - (3,201,970) (3,201,970)
Deposits from other banks (10,025,963) - (44,857) - - - (10,070,820)
Acceptance payables - - - - - (6,701,256) (6,701,256)
Securities sold under
agreements to repurchase - - (1,054,780) - - - (1,054,780)
Borrowings - - (299,807) (1,043,798) (286,021) - (1,629,626)
Estimated losses from
commitments
and contingencies - - - - - (3,371,674) (3,371,674)
Accruals and other liabilities - - - - - (6,673,819) (6,673,819)
Subordinated bonds - - - - (500,000) - (500,000)
Total (890,527,868) - (205,836,071) (6,872,073) (786,021) (19,948,719) (1,123,970,752)
Interest rate re-pricing gap (295,267,352) 25,877,534 (138,337,994) 143,774,647 430,461,529 27,481,505 193,989,869
Fundamental reforms to benchmark interest rates are being carried out globally,
including the replacement of some Interbank Offered Rates (“IBORs”) with alternative
interest rates (referred to as the 'IBOR reform'). In Indonesia, JIBOR interest rates are
being reformed with Indonesia Overnight Index Average (“IndONIA”). will be effective on
1 January 2025 determined as the alternative interest rates. The Bank has no exposure
derivative transactions that use JIBOR as a reference.
The Bank has prepared systems, procedures, valuations and market risk
measurements to accommodate new transactions using IndoNIA.
674 PT Bank Central Asia Tbk 2024 Annual Report
Page 677
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/130
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
42. FINANCIAL RISK MANAGEMENT (continued)
e. Market risk management (continued)
ii. Interest rate risk (continued)
Interest Rate Risk in the Trading Book (continued)
The main risk facing the Group as a result of the IBOR reform is operational, e.g.
renegotiation of loan contracts through bilateral negotiations with customers, renewal of
contract terms, renewal of the system using the IBOR curve and revision of operational
controls related to the reforms. The rate convention that will be used will take into
account the characteristics of the product, both derivative and non-derivative assets, as
well as see input and recommendations from representatives of financial associations
and working groups in force, in order to be able to provide accurate prices and mitigate
risks arising from interest rate risk.
f. Operational risk management
The Bank has an Operational Risk Management Policy, which is a basic guideline for
implementing operational risk management in all bank work units in general. To manage
operational risk arising from the use of information technology, the Bank has a Basic Risk
Management Policy on the Use of Information Technology, Information Technology
Implementation, Information Security Policy and Cyber Security Risk Management
Policy. These policies are reviewed regularly and aligned with the provisions issued by
the regulators.
The Bank performs a risk assessment process in product or activity development
implemented by the Bank as well as measuring or assessing in terms of materiality the
increase of risk exposures from product or activity development owned by the previous
Bank. This is regulated through:
1. Product/Activity Publishing Policy and Provision of Information Technology Systems
and Their Supports,
2. Assessment Policy for Increasing Bank Product Development Risk Exposure.
In digital services development for customers, the Bank also refers to Financial Services
Authority Regulation ("POJK") No. 21 Year 2023 dated 19 December 2023 regarding
Digital Services by Commercial Banks who pay attention to the aspects of risk
management, customer data security, and consumer protection.
Bank has qualified infrastructure to support implementation of operational risk
management, named Operational Risk Management Information System (“ORMIS”),
which consists of Risk and Control Self Assessment (“RCSA”), Loss Event Database
(“LED”), and Key Risk Indicator (“KRI”). This web-based application can be used by all
working units to help them in managing operational risk. In order to make implementation
of operational risk management more effective and efficient, the bank continuously
enhance the ORMIS in accordance with the latest bank operational activities.
Risk and Control Self Assessment (“RCSA”)
RCSA is used by Risk Owner to identify, measure, monitor, and risk control with the
purpose of improving the awareness culture in managing operational risk from each
employee in conducting their daily activities.
2024 Annual Report PT Bank Central Asia Tbk 675
Page 678
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/131
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
42. FINANCIAL RISK MANAGEMENT (continued)
f. Operational risk management (continued)
Risk and Control Self Assessment (“RCSA”) (continued)
RCSA is conducted regularly in all working units (branches and head office) at least once
a year.
The Bank regularly reviews and revalidates operational risk that may occur in working
unit and also assess impact and likelihood grading that is used for RCSA so that the
assessment of operational risk can provide more precise overview of activities and risk
profiles of each working unit and bankwide.
Loss Event Database (“LED”)
LED is used to administer and analyze occurred operational events that incur losses for
the Bank and as an operational losses database to calculate the cost of capital from risk
operational losses and to monitor operational events to take action immediately.
To obtain quality data, in recording operational loss events the Bank has internal policy
that regulates input of loss data which refers to qualitative requirements as regulated in
circular letter of OJK about RWA No. 6/SEOJK.03/2020 concerning Calculation of Risk
Weighted of Assets Considering Operational Risk using a standard approach for
commercial banks, and also has dual control mechanism in an application that has role
for data entry and approver, moreover the Bank always conducts an independent review
of operational risk loss data comprehensively to maintain the validity of data which are
provided by working units.
Key Risk Indicator (“KRI”)
KRI can provide an early warning sign of increasing operational risk in a working unit to
authorized officer and used as a source data to identify process, procedure, and weak
control.
The Bank regularly reviews and revalidates KRI parameters and thresholds to ensure
KRI effectiveness in providing early warning signs of increased operational risk in
working units.
The Bank presents implementation of operational risk management and conducts Risk
Awareness Program to embed and enhance the awareness culture in managing
operational risk in working units including risk awareness of system security and
information technology.
In order to mitigate the impact of disruptions/failures that may be caused by technology,
disease outbreaks, or other disasters on the operational activities of the Bank services
to customers, the Bank already has a Business Continuity Management ("BCM"). In
order for the implementation of BCM to run effectively, Bank prepared a Business
Continuity Plan ("BCP") to facilitate the Bank in preparing for disruption and performing
recovery processes, which includes crisis management plan and crisis communication,
as well as regularly conduct socialization of Business Continuity (“BC”) awareness and
testing on BCP including simulation of cyber incidents. To support the implementation of
the BCP, the Bank has a Disaster Recovery Center connected to 2 (two) major Data
Centers, the Secondary Operation Center, Secondary Work Place, and the Command
and Crisis Center.
676 PT Bank Central Asia Tbk 2024 Annual Report
Page 679
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/132
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
42. FINANCIAL RISK MANAGEMENT (continued)
f. Operational risk management (continued)
Risk management related to Cybersecurity
With the rapid development of the current information technology ("IT"), the Bank is
necessary to undergo digital transformation, as well as the use of IT to improve the
efficiency of the Bank's operational activities, and to provide better service to its
customers. However, the use of IT also increases the risk of system disruption, potential
cyber attacks, data leaks, and social engineering. To mitigate such risks, the Bank has
implemented IT and cyber security risk management supported by an organizational
structure that refers to the concept of a three lines model which have IT Security Group,
Cyber Security Risk Management, and Audit Information Technology as a unity of the
concept of a three lines model to apply risk management regarding cyber security. The
Bank will continue to observe the risk and control of People, Process, and Technology
aspect to see the sufficient application of cyber security risk management, which are:
1. Formed The Bank already has a risk management policy and procedure for cyber
security and information security which refer to regulatory provisions and international
standard. Furthermore, to determine the reliability and management of the IT
infrastructure, the Bank performs a review of risk management implementation and an
assessment of the digital maturity rate and cyber security maturity level referring to the
regulatory provisions.
2. The Bank has taken advantage of technology to help identify, detect, and monitor and
analyze risk regarding cyber security since recent such as the implementation of
firewall, IPS, antivirus, anti DDOS, and other security technology that are relevant.
Moreover, the Bank has a Security Monitoring Center (“SMC”) to monitor any potential
system disruptions or cyber attacks that could have implications and disrupt services
to customers.
3. The bank also regularly undertakes socialization and providing education to
encourage a culture of cyber security awareness to employees, customers and third
parties continuously with relevant material.
In addition, in connection with Law Number 27 of 2022 concerning Personal Data
Protection (“UU PDP”), as well as the increased availability of digital services has led to a
high demand for customer personal data process, the Bank has implemented several
policies and procedures that include the use of technology, updating system periodically,
as well as training for employees and awareness related to PDP. The Bank also actively
carries out evaluations to ensure that the steps taken are always in line with regulatory
developments and customer needs. Some of the owned policies/procedures are regarding
PDP Policies, such as Consumer Protection, Data Loss Prevention, and Information
Security. The Bank also has Officials of Personal Data Protection in accordance with
regulatory provisions.
g. Consolidated risk management
In accordance with Financial Services Authority Regulation (“POJK”)
No. 38/POJK.03/2017 dated 12 July 2017 regarding the Implementation of Consolidated
Risk Management for Banks with Control over Subsidiaries, the Bank is required to
implement consolidated risk management.
Implementation of consolidated risk management in the Bank is performed based on the
above-mentioned Financial Services Authority regulation, including:
• Active supervision of Board of Commissioners and Board of Directors;
• Adequate policies and procedures and setting limits;
• Adequacy of the process of identification, measurement, monitoring and risk control,
as well as risk management information system; and
• A comprehensive internal control system.
2024 Annual Report PT Bank Central Asia Tbk 677
Page 680
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/133
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
42. FINANCIAL RISK MANAGEMENT (continued)
g. Consolidated risk management (continued)
Referring to the concept of implementation of consolidated risk management,
implementation of consolidated risk management duties and responsibilities are one of
the functions of the Risk Management Division. In carrying out its duties, the Risk
Management Division coordinates with the work units that carry out Risk Management
functions at each Financial Services Institution ("LJK") - Subsidiaries in the financial
conglomerate.
In accordance with Financial Services Authority Regulation (“POJK”) No.
17/POJK.03/2014 dated 19 November 2014 regarding the Implementation of Integrated
Risk Management for Financial Conglomeration, a financial conglomeration should
implement a comprehensive and effective integrated risk management, in this case the
Bank as the Main Entity is obliged to integrate the implementation of risk management
within the financial conglomeration.
Referring to the implementation of integrated risk management concept, implementation
of tasks and responsibilities of Integrated Risk Management Working Unit is one of the
functions of the existing Risk Management Working Unit. In performing their duties,
Integrated Risk Management Working Unit coordinates with working units that conduct
Risk Management function on the respective Financial Service Institution (“LJK”) in
Subsidiaries financial conglomeration.
In addition to implement risk management in accordance with the regulations of their
respective regulators, Subsidiaries have also implemented risk management in line with
the implementation of risk management in the Main Entity. The purpose of implementing
risk management in Subsidiaries is to provide added value and increase the
competitiveness of companies, considering this is one of the fulfilments of the Bank's
compliance with regulations and international standard practices.
In order to implement of integrated risk management effectively, the Bank also has
Accounting Information System and Risk Management System which is used to identify,
measure, monitor and risk control.
The Bank as the Main Entity has:
1. Formed Integrated Risk Management Committee (“KMRT”) with the aim of ensuring
that the risk management framework has provided adequate protection to all Bank’s
and Subsidiaries’ risks in integrated manner;
2. Compiled Basic Policy of Integrated Risk Management (“KDMRT”);
3. Compiled several policies related to the implementation of Integrated Risk
Management, including policies governing Integrated Capital, Intra-group
Transactions Risk, Integrated Risk Profile Reports, Integrated Risk Limit and others;
4. Submitted to OJK:
a. Reports regarding the Main Entity and LJK included as members of the financial
conglomeration;
b. Integrated Risk Profile Report;
c. Integrated Capital Sufficiency Report;
d. Report on Changes in Members of the Financial Conglomeration.
In addition, the financial conglomerate has performed an integrated Stress Test to ensure
that capital and liquidity at the level of each entity and in an integrated manner are still
adequate in dealing with the worst scenario (stress).
678 PT Bank Central Asia Tbk 2024 Annual Report
Page 681
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/134
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
43. MATURITY GAP OF FINANCIAL ASSETS AND LIABILITIES
The following table summarises the maturity gap profile of the Group financial assets and
liabilities based on the remaining period until the contractual maturity date as of 31 December
2024 and 2023:
2024
No
> 3 months - More than contractual
Up to 1 month > 1 - 3 months 1 years > 1 - 5 years 5 years maturity Total
Financial assets
Cash - - - - - 29,315,878 29,315,878
Current accounts with Bank Indonesia - - - - - 36,408,142 36,408,142
Current accounts with other banks - net 4,097,199 - - - - - 4,097,199
Placement with Bank Indonesia
and other banks - net 15,516,794 150,169 47,921 - - - 15,714,884
Financial assets at fair value
through profit or loss 739,047 277,077 18,003,066 864,695 1,613,660 27,072 21,524,617
Acceptance receivables - net 3,108,244 3,461,596 3,039,495 11,712 - - 9,621,047
Bills receivable - net 2,915,617 4,363,069 1,613,083 - - - 8,891,769
Securities purchased under
agreements to resell - net 1,368,661 51,834 29,067 - - - 1,449,562
Loans receivable 43,784,733 65,293,004 212,886,628 289,307,914 290,038,574 - 901,310,853
Less:
Allowance for impairment losses (32,624,643)
Consumer financing receivable - net 152,256 516,518 1,007,550 7,516,496 242,744 - 9,435,564
Finance lease receivable - net 903 1,044 20,753 28,342 - - 51,042
Assets related to sharia
transactions - murabahah
receivables - net 512,710 784,048 628,126 - - - 1,924,884
Investment securities - net 11,553,498 3,716,110 121,794,187 204,087,279 29,460,391 540,492 371,151,957
Other assets - net 4,641,823 379,403 1,257,897 5,202,181 1,799,609 435,064 13,715,977
88,391,485 78,993,872 360,327,773 507,018,619 323,154,978 66,726,648 1,391,988,732
Financial liabilities
Deposits from customers (1,073,347,050) (42,976,722) (4,289,895) - - - (1,120,613,667)
Sharia deposits (3,935,363) - - - - - (3,935,363)
Deposits from other banks (3,621,166) (35,132) - - - - (3,656,298)
Financial liabilities at fair value
through profit or loss (176,640) (68,348) (12,625) - - - (257,613)
Securities sold under
agreement to repurchase (1,330,996) - - - - - (1,330,996)
Acceptance payables (1,953,035) (1,784,655) (902,423) (11,842) - - (4,651,955)
Borrowings (296,182) - (1,650,000) (296,334) - - (2,242,516)
Estimated losses from
commitments
and contingencies (250,713) (534,449) (1,497,920) (636,589) (55,516) - (2,975,187)
Accruals and other liabilities (2,966,364) (23,549) (34,526) (232,750) (46,281) - (3,303,470)
Subordinated bonds - - (435,000) - (65,000) - (500,000)
(1,087,877,509) (45,422,855) (8,822,389) (1,177,515) (166,797) - (1,143,467,065)
Net position (999,486,024) 33,571,017 351,505,384 505,841,104 322,988,181 66,726,648 248,521,667
2023
No
> 3 months - More than contractual
Up to 1 month > 1 - 3 months 1 years > 1 - 5 years 5 years maturity Total
Financial assets
Cash - - - - - 21,701,514 21,701,514
Current accounts with Bank Indonesia - - - - - 92,617,705 92,617,705
Current accounts with other banks - net 5,614,353 - - - - - 5,614,353
Placement with Bank Indonesia
and other banks - net 4,124,893 415,934 660,834 - - - 5,201,661
Financial assets at fair value
through profit or loss 3,356,225 821,811 9,533,881 95,312 946,388 305,043 15,058,660
Acceptance receivables - net 3,791,875 6,195,679 4,536,673 135,397 - - 14,659,624
Bills receivable - net 2,133,856 4,292,167 3,957,042 459 - - 10,383,524
Securities purchased under
agreements to resell - net 18,710,499 17,974,157 56,411,497 - - - 93,096,153
Loans receivable 42,228,343 60,251,604 202,500,248 255,215,141 232,001,378 - 792,196,714
Less:
Allowance for impairment losses (33,308,875)
Consumer financing receivable - net 30,149 140,437 948,064 7,073,223 521,577 - 8,713,450
Finance lease receivable - net 446 1,438 19,686 117,437 - - 139,007
Assets related to sharia
transactions - murabahah
receivables - net 399,141 843,391 400,519 - - - 1,643,051
Investment securities - net 3,042,215 13,769,682 70,020,559 172,429,845 52,339,330 451,993 312,053,624
Other assets - net 7,174,994 625,102 1,297,941 3,621,452 1,697,743 533,398 14,950,630
90,606,989 105,331,402 350,286,944 438,688,266 287,506,416 115,609,653 1,354,720,795
2024 Annual Report PT Bank Central Asia Tbk 679
Page 682
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/135
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
43. MATURITY GAP OF FINANCIAL ASSETS AND LIABILITIES (continued)
The following table summarises the maturity gap profile of the Group financial assets and
liabilities based on the remaining period until the contractual maturity date as of 31 December
2024 and 2023: (continued)
2023 (continued)
No
> 3 months - More than contractual
Up to 1 month > 1 - 3 months 1 years > 1 - 5 years 5 years maturity Total
Financial liabilities
Deposits from customers (1,027,524,306) (57,161,198) (6,081,303) - - - (1,090,766,807)
Sharia deposits (3,201,970) - - - - - (3,201,970)
Deposits from other banks (10,066,688) (4,132) - - - - (10,070,820)
Financial liabilities at fair value
through profit or loss (46,758) (68,245) (7,762) - - - (122,765)
Securities sold under
agreement to repurchase (1,054,780) - - - - - (1,054,780)
Acceptance payables (2,107,358) (3,462,693) (991,754) (139,451) - - (6,701,256)
Borrowings (125,158) (174,649) (1,043,798) (286,021) - - (1,629,626)
Estimated losses from
commitments
and contingencies (282,315) (564,629) (1,781,710) (708,138) (34,882) - (3,371,674)
Accruals and other liabilities (6,425,625) (27,643) (7,110) (157,943) (55,498) - (6,673,819)
Subordinated bonds - - - (435,000) (65,000) - (500,000)
(1,050,834,958) (61,463,189) (9,913,437) (1,726,553) (155,380) - (1,124,093,517)
Net position (960,227,969) 43,868,213 340,373,507 436,961,713 287,351,036 115,609,653 230,627,278
44. CAPITAL MANAGEMENT
The primary objective of the Bank’s capital management policy is to ensure that the Bank has
a strong capital to support the Bank’s current business expansion strategy and to sustain
future development of the business, to meet regulatory capital adequacy requirements and
also to ensure the efficiency of the Bank’s capital structure.
The Bank prepares the Capital Plan based on assessment of and review over the capital
situation in terms of the legal capital adequacy requirement, combined with current economic
outlook assessment and the result of stress testing method. The Bank will continue to link
financial goals and capital adequacy to risk appetite through the capital planning process and
stress testing and assess the businesses based on Bank’s capital and liquidity requirements.
The Bank’s capital needs are also planned and discussed on a routine basis, supported by
data analysis.
The Capital Plan is prepared by the Board of Directors as part of the Bank’s Business Plan
and approved by the Board of Commissioners. This plan is expected to ensure an adequate
level of capital and optimum capital structure.
Based on BI Regulation No. 8/6/PBI/2006 dated 30 January 2006 and BI Circular Letter
No. 8/27/DPNP dated 27 November 2006 requires all banks to meet Capital Adequacy Ratio
(“CAR”) requirements for the bank on an individual and consolidated basis. The calculation of
minimum CAR on consolidated basis is performed by calculating capital and Risk-Weighted
Assets (“RWAs”) based on risks from consolidated financial statements as provided in the
prevailing Bank Indonesia Regulations.
680 PT Bank Central Asia Tbk 2024 Annual Report
Page 683
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/136
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
44. CAPITAL MANAGEMENT (continued)
BI Circular Letter No. 11/3/DPNP dated 27 January 2009 requires all banks in Indonesia with
certain qualification to take into account operational risk in the CAR calculation.
The Bank is required to provide minimum capital according to the risk profile on December
31, 2024 and 2023 in accordance with Financial Services Authority Regulation No. 27 Year
2022 dated 26 December 2022 concerning the Second Amendment to Financial Services
Authority Regulation No. 11/POJK.03/2016 concerning Minimum Capital Adequacy
Requirements for Commercial Banks, Financial Services Authority Regulation No.
34/POJK.03/2016 dated 22 September 2016 concerning Amendments to Financial Services
Authority Regulation No. 11/POJK.03/2016 concerning Minimum Capital Adequacy
Requirements for Commercial Banks, and Financial Services Authority Regulation No.
11/POJK.03/2016 dated 29 January 2016 concerning Minimum Capital Adequacy
Requirement for Commercial Banks.
The Bank calculates its capital requirements based on the prevailing OJK Regulations, where
the regulatory capital consisted of two tiers:
• Core Capital (Tier 1), which includes:
1. Common Equity (CET 1), which includes issued and fully paid-up capital (after
deduction of treasury stock), additional paid-up capital, allowable non-controlling
interest and deductions from Common Equity.
2. Additional Core Capital.
• Supplementary Capital (Tier 2), which includes capital instrument in form of shares or
other allowable instruments, agio or disagio from supplementary capital issuance,
required general allowance for productive assets (maximum of 1.25% RWAs credit risk),
and deductions from tier 2 capital.
The information regarding the Capital Adequacy Ratio (CAR) as of 31 December 2024 and
2023 is disclosed in Note 51.
45. NON-CONTROLLING INTEREST
The movement of non-controlling interest in net assets of Subsidiaries was as follows:
2024 2023
Balance, beginning of year 181,337 163,049
Non-controlling interest portion of Subsidiaries net profit
during the year 14,969 18,973
Increase (decrease) of non-controlling interest from
other comprehensive income of Subsidiaries
during the year (1,840) (685)
Balance, end of year 194,466 181,337
2024 Annual Report PT Bank Central Asia Tbk 681
Page 684
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/137
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
46. TRANSACTIONS AND BALANCES WITH RELATED PARTIES
Related parties Nature of relationship Nature of transaction
PT Dwimuria Investama Andalan Shareholder Deposits from customers
Dana Pensiun BCA Employer pension fund Pension fund contribution,
deposits from customers
Konsorsium Iforte HTS Owned by the same ultimate Deposits from customers
shareholder
PT Abadi Tambah Mulia Owned by the same ultimate Loans receivable, deposits from
Internasional shareholder customers
PT Adiwisesa Mandiri Building Owned by the same ultimate Loans receivable, deposits from
Product Indonesia shareholder customers
PT Agregasi Cermat Indonesia Owned by the same ultimate Deposits from customers
shareholder
PT Agro Sinarjaya Owned by the same ultimate Deposits from customers
shareholder
PT Akar Inti Data Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Akar Inti Investama Owned by the same ultimate Deposits from customers
shareholder
PT Akar Inti Solusi Owned by the same ultimate Deposits from customers, bank
shareholder guarantee issuance
PT Akar Inti Teknologi Owned by the same ultimate Deposits from customers, bank
shareholder guarantee issuance
PT Alpha Merah Kreasi Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Altius Bahari Indonesia Owned by the same ultimate Deposits from customers
shareholder
PT Alto Halodigital International Owned by the same ultimate Deposits from customers
shareholder
PT Alto Network Owned by the same ultimate Loans receivable, deposits from
shareholder customers, bank guarantee
issuance
PT Andil Bangunsekawan Owned by the same ultimate Deposits from customers
shareholder
PT Aneka Bumi Cipta Owned by the same ultimate Deposits from customers
shareholder
PT Angkasa Komunikasi Global Owned by the same ultimate Deposits from customers, bank
Utama shareholder guarantee issuance
PT Ardijaya Karya Appliances Owned by the same ultimate Deposits from customers
Product Manufacturing shareholder
PT Arta Karya Adhiguna Owned by the same ultimate Deposits from customers
shareholder
PT Arta Cipta Niaga Owned by the same ultimate Deposits from customers
shareholder
PT Artha Cipta Swadaya Owned by the same ultimate Deposits from customers
shareholder
PT Artha Dana Teknologi Owned by the same ultimate Deposits from customers
shareholder
PT Artha Investa Teknologi Owned by the same ultimate Deposits from customers
shareholder
PT Artha Mandiri Investama Owned by the same ultimate Deposits from customers
shareholder
PT Astama Loka Indonesia Owned by the same ultimate Deposits from customers
shareholder
PT Bach Multi Global Owned by the same ultimate Deposits from customers
shareholder
PT Bahtera Maju Selaras Owned by the same ultimate Deposits from customers
shareholder
682 PT Bank Central Asia Tbk 2024 Annual Report
Page 685
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/138
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
46. TRANSACTIONS AND BALANCES WITH RELATED PARTIES (continued)
Related parties Nature of relationship Nature of transaction
PT Bangun Loka Indah Owned by the same ultimate Deposits from customers
shareholder
PT Bangun Media Indonesia Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Bangun Mustika Owned by the same ultimate Deposits from customers
Pratama shareholder
PT Berjaya Agung Indonesia Owned by the same ultimate Deposits from customers
shareholder
PT Bhumi Mahardika Jaya Owned by the same ultimate Deposits from customers
shareholder
PT Bit Teknologi Nusantara Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Broadband Wahana Asia Owned by the same ultimate Deposits from customers
shareholder
PT Bukit Muria Jaya Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Bukit Muria Jaya Estate Owned by the same ultimate Deposits from customers
shareholder
PT Bumi Aman Sejahtera Owned by the same ultimate Deposits from customers
shareholder
PT Bumi Raya Sakti Owned by the same ultimate Deposits from customers
shareholder
PT Caturguwiratna Sumapala Owned by the same ultimate Deposits from customers
shareholder
PT Cipta Karya Bumi Indah Owned by the same ultimate Deposits from customers
shareholder
PT Ciptakreasi Buana Persada Owned by the same ultimate Deposits from customers
shareholder
PT Citra Teknologi Pintar Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Darta Media Indonesia Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Dasakreasi Anekacipta Owned by the same ultimate Deposits from customers
shareholder
PT Dekoruma Niaga Sejahtera Owned by the same ultimate Loans receivable, deposits from
shareholder customers, bank guarantee
issuance
PT Digital Data Teknologi Terdepan Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Digital Otomotif Indonesia Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Digital Tangguh Nusantara Owned by the same ultimate Deposits from customers
shareholder
PT Djarum Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Djelas Tandatangan Bersama Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Dwi Cermat Indonesia Owned by the same ultimate Deposits from customers
shareholder
PT Dwi Putri Selaras Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Dynamo Media Network Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Ecogreen Oleochemicals Owned by the same ultimate Deposits from customers, bank
shareholder guarantee issuance, letter of
credit
2024 Annual Report PT Bank Central Asia Tbk 683
Page 686
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/139
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
46. TRANSACTIONS AND BALANCES WITH RELATED PARTIES (continued)
Related parties Nature of relationship Nature of transaction
PT Energi Batu Hitam Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Eragraha Pirantimegah Owned by the same ultimate Deposits from customers
shareholder
PT Fajar Surya Perkasa Owned by the same ultimate Deposits from customers
shareholder
PT Farindo Investama Indonesia Owned by the same ultimate Deposits from customers
shareholder
PT Fira Makmur Sejahtera Owned by the same ultimate Deposits from customers
shareholder
PT Fokus Solusi Proteksi Owned by the same ultimate Deposits from customers
shareholder
PT Futami Food & Beverages Owned by the same ultimate Deposits from customers, bank
shareholder guarantee issuance
PT Gajah Merah Terbang Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT General Buditekindo Owned by the same ultimate Deposits from customers
shareholder
PT Global Astha Niaga Owned by the same ultimate Deposits from customers
shareholder
PT Global Dairi Alami Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Global Danapati Niaga Owned by the same ultimate Deposits from customers
shareholder
PT Global Digital Niaga Tbk Owned by the same ultimate Loans receivable, deposits from
shareholder customers, bank guarantee
issuance
PT Global Digital Prima Owned by the same ultimate Deposits from customers
shareholder
PT Global Digital Ritelindo Owned by the same ultimate Deposits from customers
shareholder
PT Global Distribusi Nusantara Owned by the same ultimate Deposits from customers
shareholder
PT Global Distribusi Paket Owned by the same ultimate Deposits from customers
shareholder
PT Global Distribusi Pusaka Owned by the same ultimate Loans receivable, deposits from
shareholder customers, bank guarantee
issuance
PT Global Fortuna Nusantara Owned by the same ultimate Deposits from customers
shareholder
PT Global Harapan Nawasena Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Global Indonesia Komunikatama Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Global Infrastruktur Indonesia Owned by the same ultimate Deposits from customers
shareholder
PT Global Investama Andalan Owned by the same ultimate Deposits from customers
shareholder
PT Global Kassa Sejahtera Owned by the same ultimate Deposits from customers
shareholder
PT Global Media Visual Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Global Poin Indonesia Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Global Teknologi Niaga Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Global Telekomunikasi Prima Owned by the same ultimate Deposits from customers
shareholder
684 PT Bank Central Asia Tbk 2024 Annual Report
Page 687
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/140
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
46. TRANSACTIONS AND BALANCES WITH RELATED PARTIES (continued)
Related parties Nature of relationship Nature of transaction
PT Global Tiket Network Owned by the same ultimate Loans receivable, deposits from
shareholder customers, bank guarantee
issuance
PT Global Visi Media Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Global Visitama Indonesia Owned by the same ultimate Deposits from customers
shareholder
PT Globalnet Aplikasi Indotravel Owned by the same ultimate Deposits from customers
shareholder
PT Globalnet Sejahtera Owned by the same ultimate Deposits from customers
shareholder
PT Gonusa Prima Distribusi Owned by the same ultimate Loans receivable, deposits from
shareholder customers, bank guarantee
issuance
PT Graha Padma Internusa Owned by the same ultimate Deposits from customers
shareholder
PT Grand Indonesia Owned by the same ultimate Loans receivable, deposits from
shareholder customers, bank guarantee
issuance, office rental
transactions
PT Grand Teknologi Indonesia Owned by the same ultimate Deposits from customers
shareholder
PT Griya Karya Mandiri Owned by the same ultimate Deposits from customers
shareholder
PT Griya Muria Kencana Owned by the same ultimate Deposits from customers
shareholder
PT Halmahera Jaya Feronikel Owned by the same ultimate Deposits from customers
shareholder
PT Hartono Istana Teknologi Owned by the same ultimate Loans receivable, deposits from
shareholder customers, letter of credit
PT Hartono Plantation Indonesia Owned by the same ultimate Deposits from customers
shareholder
PT Hidup Bermakna Selamanya Owned by the same ultimate Deposits from customers
shareholder
PT Iforte Energi Nusantara Owned by the same ultimate Deposits from customers
shareholder
PT Iforte Global Internet Owned by the same ultimate Deposits from customers
shareholder
PT Iforte Payment Infrastructure Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Iforte Solusi Infotek Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Indah Bumi Lestari Owned by the same ultimate Deposits from customers
shareholder
PT Indo Paramita Sarana Owned by the same ultimate Deposits from customers
shareholder
PT Indodana Multi Finance Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Intershop Prima Center Owned by the same ultimate Deposits from customers
shareholder
PT Inti Bangun Sejahtera Tbk Owned by the same ultimate Deposits from customers
shareholder
PT Istana Kencana Mulia Owned by the same ultimate Deposits from customers
shareholder
PT Jasa Semesta Utama Owned by the same ultimate Deposits from customers
shareholder
PT Kalimusada Motor Owned by the same ultimate Deposits from customers
shareholder
2024 Annual Report PT Bank Central Asia Tbk 685
Page 688
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/141
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
46. TRANSACTIONS AND BALANCES WITH RELATED PARTIES (continued)
Related parties Nature of relationship Nature of transaction
PT Kartika Sanur Cemerlang Owned by the same ultimate Deposits from customers
shareholder
PT Karya Muria Cemerlang Owned by the same ultimate Deposits from customers
shareholder
PT Kencana Muria Jaya Owned by the same ultimate Deposits from customers
shareholder
PT Komet Infra Nusantara Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Kudos Istana Furniture Owned by the same ultimate Deposits from customers
shareholder
PT Kumparan Kencana Electrindo Owned by the same ultimate Deposits from customers
shareholder
PT Kurio Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Legal Tekno Digital Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Legian Paradise Owned by the same ultimate Deposits from customers
shareholder
PT Lingkarmulia Indah Owned by the same ultimate Deposits from customers
shareholder
PT Lintas Cipta Media Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Lunar Inovasi Teknologi Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Marga Sadhya Swasti Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Margo Hotel Development Owned by the same ultimate Deposits from customers
shareholder
PT Margo Property Development Owned by the same ultimate Deposits from customers
shareholder
PT Mars Multi Mandiri Owned by the same ultimate Deposits from customers
shareholder
PT Media Digital Historia Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Merah Cipta Media Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Merah Putih Colony Owned by the same ultimate Deposits from customers
shareholder
PT Mitra Media Integrasi Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Momentum Global Pratama Owned by the same ultimate Deposits from customers
shareholder
PT Multigraha Lestari Owned by the same ultimate Deposits from customers
shareholder
PT Muria Mekar Indah Owned by the same ultimate Deposits from customers
shareholder
PT Muria Sumba Manis Owned by the same ultimate Deposits from customers
shareholder
PT Nagaraja Lestari Owned by the same ultimate Deposits from customers
shareholder
PT Narasi Akal Jenaka Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Narasi Citra Sahwahita Owned by the same ultimate Deposits from customers
shareholder
686 PT Bank Central Asia Tbk 2024 Annual Report
Page 689
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/142
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
46. TRANSACTIONS AND BALANCES WITH RELATED PARTIES (continued)
Related parties Nature of relationship Nature of transaction
PT Natura Perisa Aroma Owned by the same ultimate Deposits from customers
shareholder
PT Nova Digital Perkasa Owned by the same ultimate Deposits from customers
shareholder
PT Orbit Abadi Sakti Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Pindaruma Casa Sentosa Owned by the same ultimate Deposits from customers
shareholder
PT Pradipta Mustika Cipta Owned by the same ultimate Deposits from customers
shareholder
PT Prema Gandharva Asia Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Prima Top Boga Owned by the same ultimate Loans receivable, deposits from
shareholder customers, bank guarantee
issuance
PT Profesional Telekomunikasi Owned by the same ultimate Loans receivable, deposits from
Indonesia shareholder customers
PT Promedia Punggawa Satu Owned by the same ultimate Deposits from customers
shareholder
PT Promoland Indowisata Owned by the same ultimate Loans receivable, deposits from
shareholder customers, bank guarantee
issuance
PT Prosa Solusi Cerdas Owned by the same ultimate Deposits from customers
shareholder
PT Puri Bumi Lestari Owned by the same ultimate Deposits from customers
shareholder
PT Puri Dibya Property Owned by the same ultimate Deposits from customers
shareholder
PT Puri Padma Management Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Puri Zuqni Owned by the same ultimate Deposits from customers
shareholder
PT Quattro International Owned by the same ultimate Deposits from customers
shareholder
PT Raharja Dipta Lestari Owned by the same ultimate Deposits from customers
shareholder
PT Rajawali Inti Selular Owned by the same ultimate Deposits from customers
shareholder
PT Resinda Prima Entertama Owned by the same ultimate Deposits from customers
shareholder
PT Sapta Adhikari Investama Owned by the same ultimate Deposits from customers
shareholder
PT Sarana Kencana Mulya Owned by the same ultimate Deposits from customers, letter of
shareholder credit
PT Sarana Menara Nusantara Tbk Owned by the same ultimate Deposits from customers
shareholder
PT Sasana Cipta Mulia Owned by the same ultimate Deposits from customers
shareholder
PT Savoria Adi Rasa Owned by the same ultimate Deposits from customers
shareholder
PT Savoria Kreasi Rasa Owned by the same ultimate Deposits from customers, bank
shareholder guarantee issuance
PT Semesta Cipta Internasional Owned by the same ultimate Deposits from customers, bank
shareholder guarantee issuance
PT Semesta Industri Pratama Owned by the same ultimate Deposits from customers
shareholder
2024 Annual Report PT Bank Central Asia Tbk 687
Page 690
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/143
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
46. TRANSACTIONS AND BALANCES WITH RELATED PARTIES (continued)
Related parties Nature of relationship Nature of transaction
PT Seminyak Mas Propertindo Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Sentral Investama Andalan Owned by the same ultimate Deposits from customer
shareholder
PT Sewu Nayaga Tembaya Owned by the same ultimate Deposits from customers
shareholder
PT Sinergi Nasional Rakyat Owned by the same ultimate Deposits from customers
Indonesia shareholder
PT Solusi Sentra Niaga Owned by the same ultimate Deposits from customers
shareholder
PT Solusi Tunas Pratama Tbk Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Solusi Verifikasi Indonesia Owned by the same ultimate Deposits from customers
shareholder
PT Subang Sarana Investasi Owned by the same ultimate Deposits from customers
shareholder
PT Subang Sejahtera Indonesia Owned by the same ultimate Deposits from customers
shareholder
PT Sumber Kopi Prima Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Supra Boga Lestari Tbk Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Supra Kreatif Mandiri Owned by the same ultimate Deposits from customers
shareholder
PT Supra Mas Mandiri Owned by the same ultimate Deposits from customers
shareholder
PT Surya Centra Industri Owned by the same ultimate Deposits from customers
shareholder
PT Surya Energi Parahita Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Surya Siti Indotama Owned by the same ultimate Deposits from customers
shareholder
PT Surya Subang Smartpolitan Owned by the same ultimate Deposits from customers
shareholder
PT Suryacipta Swadaya Owned by the same ultimate Deposits from customers
shareholder
PT Suryacipta Swadaya Infrastruktur Owned by the same ultimate Deposits from customers
shareholder
PT Timur Persada Lestari Owned by the same ultimate Deposits from customers
shareholder
PT Tira Timur Lestari Owned by the same ultimate Deposits from customers
shareholder
PT Tricipta Mandhala Gumilang Owned by the same ultimate Deposits from customers
shareholder
PT Trigana Putra Mandiri Owned by the same ultimate Deposits from customers
shareholder
PT Tunas Nusantara Persada Owned by the same ultimate Deposits from customers
shareholder
PT Varnion Technology Semesta Owned by the same ultimate Loans receivable, deposits from
shareholder customers
PT Verve Persona Estetika Owned by the same ultimate Deposits from customers
shareholder
688 PT Bank Central Asia Tbk 2024 Annual Report
Page 691
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/144
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
46. TRANSACTIONS AND BALANCES WITH RELATED PARTIES (continued)
Related parties Nature of relationship Nature of transaction
PT Visinema Pictures Owned by the same ultimate Loans receivable, deposits from
shareholder customers
Key management personnel Bank’s Board of Commissioners Loans receivable, deposits from
and Board of Directors customers, employee benefits
The Bank’s controlling individuals Shareholder Loans receivable, deposits from
and their family members customers
In the normal course of business, the Bank has transactions with related parties due to their
common ownership and/or management. All transactions with related parties are conducted
with agreed terms and conditions.
The details of significant balances and transactions with related parties that were not
consolidated as of 31 December 2024 and 2023, and for the years then ended were as
follows:
2024 2023
Percentage to Percentage to
Amount total Amount total
Loans receivable*) (Note 12) 7,230,509 0.80% 8,478,521 1.07%
Right-of-use asset - net**) (Note 16) 243,940 0.86% 213,815 0.80%
Other assets***) (Note 18) 9,511 0.04% 9,121 0.04%
Deposits from customers (Note 19) 3,235,633 0.29% 2,639,237 0.24%
Unused credit facilities to customers (Note 27) 3,941,255 0.96% 4,903,860 1.29%
Letter of credit facilities to customers (Note 27) 811,681 8.07% 134,261 1.19%
Bank guarantee issued to customers (Note 27) 373,742 1.40% 184,854 0.81%
Interest and sharia income (Note 28) 487,674 0.51% 505,037 0.58%
Interest and sharia expenses (Note 29) 42,367 0.34% 38,627 0.31%
Pension plan contribution (Note 33) 484,182 86.09% 431,993 85.84%
Rental expenses (Note 34) 13,398 1.17% 13,398 1.30%
*)
Before allowance for impairment losses.
**)
Represent right-of-use asset to PT Grand Indonesia.
***)
Represent security deposits to PT Grand Indonesia.
Compensations for key management personnel of the Bank (Note 1e) were as follows:
2024 2023
Short-term employee benefits (including tantiem) 1,125,485 912,218
Long-term employee benefits 40,680 40,780
Total 1,166,165 952,998
Rental agreement with PT Grand Indonesia
On 11 April 2006, the Bank signed a rental agreement with PT Grand Indonesia (a related
party), in which the Bank agreed to lease, on a long-term basis, the office space from
PT Grand Indonesia with a total area of 28,166.88 sqm at an amount of
USD 35,631,103.20, including Value Added Tax (“VAT”), with an option to lease for long-term
additional space of 3,264.80 sqm at an amount of USD 4,129,972, including VAT. This rental
transaction was approved by the Board of Directors and Shareholders in the Bank’s
Extraordinary General Meeting of Shareholders on 25 November 2005 (the minutes of
meeting was drawn up by Notary Hendra Karyadi, S.H., with Deed No. 11). This rental
agreement started on 1 July 2007 and will end on 30 September 2035.
As of 31 December 2024 and 2023, right-of-use asset to PT Grand Indonesia amounted to
Rp 243,940 and Rp 213,815, of these amount, Rp 144,024 and Rp 157,422, respectively has
been fully paid. The finance lease obligation to PT Grand Indonesia which was recorded on
31 December 2024 and 2023 were Rp 103,298 and Rp 58,065, respectively.
2024 Annual Report PT Bank Central Asia Tbk 689
Page 692
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/145
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
47. NET PAYABLE RECONCILIATION
2024
Securities
Debt sold under
Subordinated securities agreements to
bonds issued Borrowings repurchase
Net payable 31 December 2023 500,000 - 1,629,626 1,054,780
Cash flow:
Payment of debt securities issued - - - -
Proceeds from borrowings - - 73,287,728 -
Payment of borrowings - - (72,680,017) -
Proceeds from securities sold under agreements
to repurchase - - - 559,231
Payment of securities sold under agreements
to repurchase - - - (286,805)
Non-cash changes:
Amortisation of deferred bonds issuance costs - - - -
Adjustment of foreign currency - - 5,179 3,790
Net payable 31 December 2024 500,000 - 2,242,516 1,330,996
2023
Securities
Debt sold under
Subordinated securities agreements to
bonds issued Borrowings repurchase
Net payable 31 December 2022 500,000 - 1,316,951 255,962
Cash flow:
Payment of debt securities issued - - 49,928,825 -
Proceeds from borrowings - - (49,607,671) -
Payment of borrowings - - - -
Proceeds from securities sold under agreements
to repurchase - - - 2,332,995
Payment of securities sold under agreements
to repurchase - - - (1,528,882)
Non-cash changes:
Amortisation of deferred bonds issuance costs - - - -
Adjustment of foreign currency - - (8,479) (5,295)
Net payable 31 December 2023 500,000 - 1,629,626 1,054,780
48. GUARANTEES ON THE OBLIGATIONS OF DOMESTIC BANKS
Based on Law No. 24 regarding Deposit Insurance Corporation (“LPS”) dated 22 September
2004, effective since 22 September 2004, the LPS was established to provide guarantee on
certain deposits from customers based on prevailing guarantee schemes, the amount of which
is subject to change if they meet certain applicable schemes. The law was changed with the
Government Regulation as the Replacement of Law No. 3 Year 2008, which was stipulated
as a law since 13 January 2009 based on the Republic of Indonesia Law No. 7 Year 2009.
690 PT Bank Central Asia Tbk 2024 Annual Report
Page 693
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/146
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
48. GUARANTEES ON THE OBLIGATIONS OF DOMESTIC BANKS (continued)
Based on the Government of Republic of Indonesia Regulation No. 66/2008 dated 13 October
2008 regarding the deposit amount guaranteed by LPS, as of 31 December 2024 and 2023,
the deposit amount guaranteed by LPS for every customer in a bank was a maximum of
Rp 2,000.
As of 31 December 2024 and 2023, the Bank was the participant of this guarantee scheme.
49. ACCOUNTING STANDARD ISSUED BUT NOT YET EFFECTIVE
Financial Accounting Standard Board of Indonesian Institute of Accountants (“DSAK-IAI”) has
issued the following new standards, amendments and interpretations, but not yet effective for
the financial year beginning 1 January 2024 as follows:
- SFAS 117 "Insurance Contract";
- Amendments of SFAS 117 "Insurance Contracts on Initial Application of SFAS 117 and
SFAS 109 – Comparative Information"; and
- SFAS 221 "The Effect of Changes in Foreign Exchange Rates".
The above standard will be effective on 1 January 2025.
As at the authorisation date of these consolidated financial statements, the Group is still evaluating
the potential impact from the implementation of these new standards and the effect on the Group’s
consolidated financial statements.
50. ACCOUNT RECLASSIFICATION
Few accounts in the consolidated statements of profit or loss and other comprehensive income
for the year ended 31 December 2023 were reclassified in order to be in conformity with
presentation of the consolidated statements of profit or loss and other comprehensive income for
the year ended ended 31 December 2024:
31 December 2023
Before After
Reclassification Reclassification Reclassification
OPERATING INCOME AND EXPENSES
Interest and sharia income
Sharia income 855,189 (191,257) 663,932
OTHER OPERATING INCOME///
Fees and commissions income – net 16,652,716 (30,575) 16,622,141
Others 6,276,335 (1,206,857) 5,069,478
Impairment losses on assets (2,263,049) 1,206,857 (1,056,192)
a
OTHER OPERATING EXPENSES///
General and administrative expenses (17,496,896) 191,257 (17,305,639)
//
Others (3,807,860) 30,575 (3,777,285) ///
2024 Annual Report PT Bank Central Asia Tbk 691
Page 694
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/147
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
51. ADDITIONAL INFORMATION NOT REQUIRED BY THE FINANCIAL ACCOUNTING
STANDARDS
This additional information is required by the applicable regulations and is not mandated by the
Financial Accounting Standards in Indonesia. This additional information is part of Note 51 to the
consolidated financial statements:
a. Reserve Requirements (“RR”) and Macroprudential Liquidity Buffer (“MPLB”)
Current accounts with Bank Indonesia are provided to comply with the Reserve
Requirement (“RR”) of Bank Indonesia, On 31 December 2024 and 2023, the Ratio of
Rupiah and Foreign Currencies RR as well as the Ratio of Macroprudential Liquidity Buffer
(“MPLB”) that must be met by the Bank are as follows:
2024 2023
Rupiah
- RR 5.00% 6.20%
(i) RR on daily basis 0.00% 0.00%
(ii) RR on average basis 9.00% 9.00%
(iii) RR reduction incentives -4.00% -2.80%
- MIR 0.72% 1.96%
- MPLB 5.00% 5.00%
Foreign currencies
- RR 4.00% 4.00%
(i) RR on daily basis 2.00% 2.00%
(ii) RR on average basis 2.00% 2.00%
RR is a minimum reserve that should be maintained by the Bank in the form of current
accounts with Bank Indonesia, MPLB is a minimum liquidity reserves that should be
maintained by Bank, in the form of Bank Indonesia Certificates (“SBI”), Bank Indonesia
Deposit Certificates (“SDBI”), Treasury Bills (“SBN”), Sekuritas Rupiah Bank Indonesia
(“SRBI”) which is determined by Bank Indonesia at certain percentage of the Bank’s Third
Party Fund.
As of 31 December 2024 and 2023, the Bank has fulfilled the RR ratios in Rupiah and
foreign currencies, and MPLB ratios as follows:
2024 2023
Rupiah
- RR 5.04% 6.40%
(i) RR on daily basis 0.00% 0.00%
(ii) RR on average basis 5.04% 6.40%
- MIR 0.72% 1.96%
- MPLB 30.56% 33.89%
Foreign currencies
- RR 4.22% 4.71%
(i) RR on daily basis 2.00% 2.00%
(ii) RR on average basis 2.22% 2.71%
b. Legal Lending Limit
As of 31 December 2024 and 2023, the Bank at individual level and at consolidated level,
complied with Legal Lending Limit (“LLL”) requirements for both related parties and third
parties.
c. Ratio of Small Enterprises Loans to Loans Receivable
Ratio of small enterprises loans to loans receivable provided by Bank as of 31 December
2024 and 2023 was 6.24% and 6.09%, respectively.
692 PT Bank Central Asia Tbk 2024 Annual Report
Page 695
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/148
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
51. ADDITIONAL INFORMATION NOT REQUIRED BY THE FINANCIAL ACCOUNTING
STANDARDS (continued)
This additional information is required by the applicable regulations and is not mandated by the
Financial Accounting Standards in Indonesia. This additional information is part of Note 51 to the
consolidated financial statements: (continued)
d. Non-Performing Loan
The Bank’s non-performing loans (classified as sub-standard, doubtful and loss) as of
31 December 2024 and 2023 amounting to Rp 15,498,016 and Rp 14,147,246,
respectively.
As of 31 December 2024, the ratio of gross non-performing loan (“NPL”) and net NPL was
1.78% and 0.59% (2023: 1.86% and 0.58%), which was calculated based on prevailing
POJK.
e. Net Open Position
The Bank’s net foreign exchange positions (Net Open Position or “NOP”) as of 31
December 2024 and 2023 were calculated based on prevailing Bank Indonesia
Regulations. Based on those regulations, banks are required to maintain the NOP
(including all domestic and overseas branches) at the maximum of 20% (twenty percent)
of capital.
The aggregate NOP represents the sum of the absolute values of (i) the net difference
between assets and liabilities denominated in each foreign currency and (ii) the net
difference of receivables and liabilities of both commitments and contingencies recorded
in the administrative account (administrative account transactions) denominated in each
foreign currency, which are all stated in Rupiah. The NOP for statement of financial
position represents the sum of the net differences of assets and liabilities on the
statements of financial position for each foreign currency, which are all stated in Rupiah.
The Bank’s NOP as of 31 December 2024 and 2023 were as follows:
2024
NOP for Net difference
statement of between
financial receivables
position (net and liabilities
difference in Overall NOP
between assets administrative (absolute
and liabilities) accounts amount)
USD 3,357,291 (3,912,311) 555,020
SGD (2,501,631) 2,506,155 4,524
CNH (951,871) 924,221 27,650
MYR 2,444 - 2,444
CHF 38,985 (32,337) 6,648
JPY 41,919 (30,225) 11,694
SEK (1) (3,187) 3,188
EUR (989,097) 999,677 10,580
HKD 7,535 - 7,535
CAD 14,590 (16,111) 1,521
AUD (47,807) 44,550 3,257
GBP (8,237) 15,164 6,927
DKK 8,999 (7,926) 1,073
SAR 12,415 (16,097) 3,682
2024 Annual Report PT Bank Central Asia Tbk 693
Page 696
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/149
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
51. ADDITIONAL INFORMATION NOT REQUIRED BY THE FINANCIAL ACCOUNTING
STANDARDS (continued)
This additional information is required by the applicable regulations and is not mandated by the
Financial Accounting Standards in Indonesia. This additional information is part of Note 51 to the
consolidated financial statements: (continued)
e. Net Open Position (continued)
The Bank’s NOP as of 31 December 2024 and 2023 were as follows: (continued)
2024 (continued)
NOP for Net difference
statement of between
financial receivables
position (net and liabilities
difference in Overall NOP
between assets administrative (absolute
and liabilities) accounts amount)
NZD 22,059 (22,670) 611
THB 3,725 (454) 3,271
Others 3,250 - 3,250
Total 652,875
Total capital 249,056,422
Percentage of NOP to capital 0.26 %
2023
NOP for Net difference
statement of between
financial receivables
position (net and liabilities
difference in Overall NOP
between assets administrative (absolute
and liabilities) accounts amount)
USD 6,789,863 (6,962,722) 172,859
SGD (2,178,903) 2,197,588 18,685
CNH 101,620 (86,350) 15,270
MYR (1,526) 7,692 6,166
CHF 21,690 (15,945) 5,745
JPY 25,973 (22,066) 3,907
SEK 3,318 - 3,318
EUR 1,367,157 (1,369,468) 2,311
HKD 9,425 (7,698) 1,727
CAD 16,874 (15,340) 1,534
AUD (384,371) 383,100 1,271
GBP 2,595 (1,472) 1,123
DKK 7,125 (6,245) 880
SAR 14,539 (15,401) 862
NZD 9,171 (9,765) 594
THB (197) - 197
Others 2,065 - 2,065
Total 238,514
Total capital 226,426,139
Percentage of NOP to capital 0.10%
694 PT Bank Central Asia Tbk 2024 Annual Report
Page 697
PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES Schedule 5/150
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
51. ADDITIONAL INFORMATION NOT REQUIRED BY THE FINANCIAL ACCOUNTING
STANDARDS (continued)
This additional information is required by the applicable regulations and is not mandated by the
Financial Accounting Standards in Indonesia. This additional information is part of Note 51 to the
consolidated financial statements: (continued)
f. Capital Adequacy Ratio
The CAR as of 31 December 2024 and 2023, calculated in accordance with the prevailing
regulations, taking into account the credit risk, market risk and operational risk, were as
follows:
2024 2023
Bank Consolidated Bank Consolidated
Core Capital (Tier 1) 239,468,855 255,311,302 217,686,126 233,701,580
Supplementary Capital (Tier 2) 9,587,567 9,886,723 8,740,013 8,992,596
Total Capital 249,056,422 265,198,025 226,426,139 242,694,176
Risk-Weighted Assets (RWAs)
RWAs Considering Credit Risk 787,719,400 816,782,306 719,410,464 744,418,973
RWAs Considering Market Risk 8,559,151 9,849,977 1,465,254 3,074,120
RWAs Considering Operational Risk 51,903,001 83,551,413 48,325,210 78,117,459
Total RWAs 848,181,552 910,183,696 769,200,928 825,610,552
Minimum Capital Requirement
based on risk profile 9.99% 9.99% 9.99% 9.99%
CAR ratio
CET 1 ratio 28.23% 28.05% 28.30% 28.31%
Tier 1 ratio 28.23% 28.05% 28.30% 28.31%
Tier 2 ratio 1.13% 1.09% 1.14% 1.09%
CAR ratio 29.36% 29.14% 29.44% 29.40%
CET 1 for Buffer 19.37% 19.15% 19.45% 19.41%
Regulatory Minimum Capital Requirement
Allocation based on risk profile
From CET 1 8.86% 8.90% 8.85% 8.90%
From AT 1 0.00% 0.00% 0.00% 0.00%
From Tier 2 1.13% 1.09% 1.14% 1.09%
Regulatory Buffer percentage required
by Bank
Capital Conservation Buffer 2.50% 2.50% 2.50% 2.50%
Countercyclical Buffer 0.00% 0.00% 0.00% 0.00%
Capital Surcharge for Systemic Bank 2.50% 2.50% 2.50% 2.50%
52. ADDITIONAL INFORMATION
Information presented in schedule 6/1 - 6/7 are additional financial information of PT Bank
Central Asia Tbk, (Parent Entity), which presented investment in Subsidiaries according to
cost method and are an integral part of the consolidated financial statements of the Group.
2024 Annual Report PT Bank Central Asia Tbk 695
Page 698
PT BANK CENTRAL ASIA Tbk Schedule 6/1
ADDITIONAL INFORMATION
STATEMENTS OF FINANCIAL POSITION (PARENT ENTITY ONLY)
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
2024 2023
ASSETS
Cash 29,285,819 21,655,553
Current accounts with Bank Indonesia 35,165,855 91,333,237
Current accounts with other banks - net of allowance for
impairment losses of Rp 520 as of 31 December 2024
(31 December 2023: Rp 608) 4,019,739 5,603,146
Placements with Bank Indonesia and other banks - net
of allowance for impairment losses of Rp 1,708
as of 31 December 2024 (31 December 2023: Rp 643) 14,246,183 2,649,867
Financial assets at fair value through profit or loss 21,044,715 14,144,470
Acceptance receivables - net of allowance for
impairment losses of Rp 440,695 as of
31 December 2024 (31 December 2023: Rp 283,115) 9,621,047 14,659,624
Bills receivable - net of allowance for impairment losses of
Rp 3,116 as of 31 December 2024
(31 December 2023: Rp 4,516) 8,891,769 10,383,524
Securities purchased under agreements to resell 862,849 90,780,368
Loans receivable - net of allowance for impairment
losses of Rp 32,382,006 as of 31 December 2024
(31 December 2023: Rp 33,168,491)
Related parties 7,296,837 8,803,131
Third parties 855,233,239 745,527,767
Investment securities - net of allowance for impairment
losses of Rp 374,454 as of 31 December 2024
(31 December 2023: Rp 351,296) 352,643,621 298,289,259
Prepaid expenses 617,971 716,210
Prepaid tax 1,532,246 24,117
Fixed assets - net of accumulated depreciation of
Rp 9,244,266 as of 31 December 2024
(31 December 2023: Rp 9,486,999) 27,347,687 25,962,532
Intangible assets - net of accumulated amortisation of
Rp 662,728 as of 31 December 2024
(31 December 2023: Rp 836,816) 586,410 393,556
Deferred tax assets - net 5,181,176 7,207,737
Investment in shares - net of allowance for impairment
losses of Rp 105,260 as of 31 December 2024
(31 December 2023: Rp 104,366) 10,245,537 10,157,038
Other assets - net of allowance for impairment losses of
Rp 991 as of 31 December 2024
(31 December 2023: Rp 200)
Related parties 9,511 26,978
Third parties 22,497,679 22,552,825
TOTAL ASSETS 1,406,329,890 1,370,870,939
696 PT Bank Central Asia Tbk 2024 Annual Report
Page 699
PT BANK CENTRAL ASIA Tbk Schedule 6/2
ADDITIONAL INFORMATION
STATEMENTS OF FINANCIAL POSITION (PARENT ENTITY ONLY)
31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
2024 2023
LIABILITIES AND EQUITY
LIABILITIES
Deposits from customers
Related parties 3,260,838 2,700,327
Third parties 1,105,647,994 1,079,151,832
Deposits from other banks 3,698,286 10,146,440
Financial liabilities at fair value through
profit or loss 257,613 120,630
Acceptance payables 4,651,955 6,701,256
Securities sold under agreements to repurchase 1,330,996 972,534
Tax payables 493,568 1,434,752
Borrowings 43,672 60,477
Estimated losses from commitments and contingencies 2,967,583 3,369,458
Post-employment benefits obligation 8,943,641 8,884,242
Accruals and other liabilities 21,466,054 23,904,545
Subordinated bonds 500,000 500,000
TOTAL LIABILITIES 1,153,262,200 1,137,946,493
EQUITY
Share capital - par value per share of Rp 12.50 (full amount)
Authorised capital: 440,000,000,000 shares
Issued and fully paid-up capital: 123,275,050,000 shares 1,540,938 1,540,938
Additional paid-in capital 5,711,368 5,711,368
Revaluation surplus of fixed assets 11,003,529 10,801,590
Unrealised gains (losses) on financial assets at
fair value through other comprehensive income 280,866 933,879
Retained earnings
Appropriated 3,720,540 3,234,149
Unappropriated 230,810,449 210,702,522
TOTAL EQUITY 253,067,690 232,924,446
TOTAL LIABILITIES AND EQUITY 1,406,329,890 1,370,870,939
2024 Annual Report PT Bank Central Asia Tbk 697
Page 700
PT BANK CENTRAL ASIA Tbk Schedule 6/3
ADDITIONAL INFORMATION
STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
(PARENT ENTITY ONLY)
FOR THE YEARS ENDED 31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
2024 2023
OPERATING INCOME AND EXPENSES
Interest income 88,406,720 81,809,757
Interest expenses (11,668,707) (11,573,524)
INTEREST INCOME - NET 76,738,013 70,236,233
OTHER OPERATING INCOME
Fees and commission income - net 17,891,823 16,531,444
Net income from transaction at fair value
through profit or loss 2,814,418 1,803,589
Others 3,582,854 3,077,812
Total other operating income 24,289,095 21,412,845
Impairment losses on assets (1,273,883) (766,426)
OTHER OPERATING EXPENSES
Personnel expenses (15,454,514) (14,470,340)
General and administrative expenses (15,094,669) (15,743,363)
Others (1,786,044) (1,787,639)
Total other operating expenses (32,335,227) (32,001,342)
INCOME BEFORE TAX 67,417,998 58,881,310
INCOME TAX EXPENSE (12,711,616) (10,895,738)
NET INCOME 54,706,382 47,985,572
OTHER COMPREHENSIVE INCOME:
Items that will not be reclassified to profit or loss:
Remeasurements of defined benefit obligation 74,456 (554,048)
Income tax on remeasurements of defined
benefit liability (14,146) 105,269
60,310 (448,779)
Revaluation surplus of fixed assets 238,391 230,830
298,701 (217,949)
Items that will be reclassified to profit or loss:
Unrealised gains (losses) on financial assets
at fair value through other comprehensive income (806,189) (1,063,085)
Income tax 153,176 201,986
(653,013) (861,099)
OTHER COMPREHENSIVE INCOME,
NET OF INCOME TAX (354,312) (1,079,048)
TOTAL COMPREHENSIVE INCOME 54,352,070 46,906,524
BASIC AND DILUTED EARNINGS PER SHARE
ATTRIBUTABLE TO EQUITY HOLDERS OF THE
PARENT ENTITY (in full amount) 444 389
698 PT Bank Central Asia Tbk 2024 Annual Report
Page 701
PT BANK CENTRAL ASIA Tbk Schedule 6/4
2024 Annual Report
ADDITIONAL INFORMATION
STATEMENTS OF CHANGES IN EQUITY (PARENT ENTITY ONLY)
FOR THE YEARS ENDED 31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
2024
Unrealised gains
(losses) on
financial assets
at fair value
Revaluation through other Retained earnings
Issued and fully Additional paid- surplus of fixed comprehensive
paid-up capital in capital assets income-net Appropriated Unappropriated Total equity
Balance, 31 December 2023 1,540,938 5,711,368 10,801,590 933,879 3,234,149 210,702,522 232,924,446
Net income for the year - - - - - 54,706,382 54,706,382
Revaluation surplus of fixed assets - - 201,939 - - 36,452 238,391
Unrealised gains (losses) on financial assets
at fair value through other
comprehensive income - net - - - (653,013) - - (653,013)
Remeasurement of defined
benefit liability - net - - - - - 60,310 60,310
Total comprehensive income for the year - - 201,939 (653,013) - 54,803,144 54,352,070
General reserve - - - - 486,391 (486,391) -
Cash dividends - - - - - (34,208,826) (34,208,826)
Balance, 31 December 2024 1,540,938 5,711,368 11,003,529 280,866 3,720,540 230,810,449 253,067,690
PT Bank Central Asia Tbk
699
Page 702
700
PT BANK CENTRAL ASIA Tbk Schedule 6/5
ADDITIONAL INFORMATION
STATEMENTS OF CHANGES IN EQUITY (PARENT ENTITY ONLY)
FOR THE YEARS ENDED 31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
PT Bank Central Asia Tbk
2023
Unrealised gains
(losses) on
financial assets
at fair value
Revaluation through other Retained earnings
Issued and fully Additional paid- surplus of fixed comprehensive
paid-up capital in capital assets income-net Appropriated Unappropriated Total equity
Balance, 31 December 2022 1,540,938 5,711,368 10,579,223 1,794,978 2,826,792 189,760,571 212,213,870
Net income for the year - - - - - 47,985,572 47,985,572
Revaluation surplus of fixed assets - - 222,367 - - 8,463 230,830
Unrealised gains (losses) on financial assets
at fair value through other
comprehensive income - net - - - (861,099) - - (861,099)
Remeasurement of defined
benefit liability - net - - - - - (448,779) (448,779)
Total comprehensive income for the year - - 222,367 (861,099) - 47,545,256 46,906,524
General reserve - - - - 407,357 (407,357) -
Cash dividends - - - - - (26,195,948) (26,195,948)
Balance, 31 December 2023 1,540,938 5,711,368 10,801,590 933,879 3,234,149 210,702,522 232,924,446
2024 Annual Report
Page 703
PT BANK CENTRAL ASIA Tbk Schedule 6/6
ADDITIONAL INFORMATION
STATEMENTS OF CASH FLOWS (PARENT ENTITY ONLY)
FOR THE YEARS ENDED 31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
2024 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts of interest income, fees and commissions 105,037,385 100,562,554
Other operating income 2,010,746 2,300,444
Payments of interest expenses, fees and commissions (11,720,323) (11,495,240)
Payments of post-employment benefits (1,153,347) (356,111)
Gains from foreign exchange transactions - net 2,975,882 (513,573)
Other operating expenses (31,440,800) (30,056,445)
Payment of tantiem to Board of Commissioners and Board of Directors (765,000) (660,000)
Other increases (decreases) affecting cash:
Placements with Bank Indonesia and other banks - mature
more than 3 (three) months from the date of acquisition 210,000 477,882
Financial assets at fair value through profit or loss (5,468,509) (12,068,137)
Acceptance receivables 4,880,997 572,359
Bills receivable 1,718,437 (4,489,425)
Securities purchased under agreements to resell 89,917,519 61,628,430
Loans receivable (109,243,514) (99,473,782)
Other assets 172,726 (7,104,585)
Deposits from customers 23,900,650 58,951,046
Deposits from other banks (6,515,643) 2,159,930
Acceptance payables (2,049,301) (2,965,392)
Accruals and other liabilities (2,394,916) 8,047,642
Net cash provided by (used in) operating activities before
income tax 60,072,989 65,517,597
Payment of income tax (11,399,598) (11,232,056)
Net cash provided by (used in) operating activities 48,673,391 54,285,541
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of investment securities (169,737,224) (103,742,809)
Proceeds from investment securities that matured
during the year 118,649,450 40,540,445
Cash dividends received from investment in shares 2,402,602 1,914,400
Paid-in capital on Subsidiary - -
Acquisition of fixed assets (3,450,738) (4,562,590)
Acquisition of right-of-use assets (532,867) (329,269)
Proceeds from sale of fixed assets 1,276 7,705
Net cash provided by (used in) investing activities (52,667,501) (66,172,117)
2024 Annual Report PT Bank Central Asia Tbk 701
Page 704
PT BANK CENTRAL ASIA Tbk Schedule 6/7
ADDITIONAL INFORMATION
STATEMENTS OF CASH FLOWS (PARENT ENTITY ONLY)
FOR THE YEARS ENDED 31 DECEMBER 2024 AND 2023
(Expressed in millions of Rupiah, unless otherwise stated)
2024 2023
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from borrowings - 48,013
Payment of borrowings (16,805) -
Payment of cash dividends (34,208,826) (26,195,948)
Proceeds from securities sold under agreements to repurchase 358,462 972,534
Net cash provided by (used in) financing activities (33,867,169) (25,175,401)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (37,861,279) (37,061,977)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 121,044,773 157,378,246
EFFECT OF FOREIGN EXCHANGE RATE FLUCTUATIONS ON
CASH AND CASH EQUIVALENTS (463,670) 728,503
CASH AND CASH EQUIVALENTS, END OF YEAR 82,719,824 121,044,772
Cash and cash equivalents consist of:
Cash 29,285,819 21,655,553
Current accounts with Bank Indonesia 35,165,855 91,333,237
Current accounts with other banks 4,020,259 5,603,754
Placement with Bank Indonesia and other banks - mature within
3 (three) months or less from the date of acquisition 14,247,891 2,452,228
Total cash and cash equivalents 82,719,824 121,044,772
702 PT Bank Central Asia Tbk 2024 Annual Report
Page 705
Financial Statements
PT DWIMURIA INVESTAMA ANDALAN AND SUBSIDIARIES
PT Dwimuria Investama Andalan and Subsidiaries
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER CONSO
As of December 31, 2024 and 2023 COMPREHENSIVE INCOME For The
(in millions of Rupiah) For The Years Ended December 31, 2024 and 2023 (in million
(in millions Rupiah, unless earnings per share)
Audited Audited Audited Audited
No. ACCOUNTS No. ACCOUNTS
Dec 31, 2024 Dec 31, 2023 Dec 31, 2024 Dec 31, 2023
ASSETS OPERATING INCOME AND EXPENSES
1. Cash 29,315,883 21,701,514 Interest and sharia income
2. Current accounts with Bank Indonesia 36,408,142 92,617,705 1. Interest income 94,978,401 87,345,628
3. Current accounts with other banks - net of allowance 6,550,871 12,741,973 2. Sharia income 805,105 663,932
4. Placements with Bank Indonesia and other banks - Total interest and sharia income 95,783,506 88,009,560 Balance,
net of allowance 22,754,005 8,950,806 Net incom
5. Financial assets measured at fair value through profit or loss 27,283,734 21,753,493 Interest and sharia expense Revaluat
6. Acceptance receivable - net of allowance 9,621,047 14,659,624 3. Interest expense (12,134,967) (11,959,844) Foreign e
7. Bills receivable - net of allowance 8,891,769 10,383,524 4. Sharia expense (394,843) (313,134) of fina
8. Securities purchased under agreements to resell - Total interest and sharia expense (12,529,810) (12,272,978) Unrealise
net of allowance 1,449,562 93,096,153 at fair
9. Loans receivable - net of allowance 868,686,210 758,887,839 NET INTEREST AND SHARIA INCOME 83,253,696 75,736,582 Remeasu
10. Consumer financing receivable - net of allowance 9,435,564 8,713,450 Total com
11. Finance lease receivable - net of allowance 51,042 139,007 OTHER OPERATING INCOME Differenc
12. Assets related to sharia transactions - net of allowance 10,206,637 8,590,618 5. Fee and commission income - net 17,791,753 16,482,674 comb
13. Investment securities - net of allowance 372,085,027 312,803,045 6. Net income from transaction at fair value through profit or loss 1,500,163 1,598,565 Cash div
14. Prepaid expenses 971,636 1,039,107 7. Others 5,496,860 5,674,315 Balance,
15. Prepaid tax 1,563,199 24,869 Total other operation income 24,788,776 23,755,554
16. Fixed assets - net of accumulated depreciation 28,253,506 26,824,840 Balance,
17. Intangible assets - net of accumulated amortisation 126,411,162 126,141,448 8. Impairment losses on assets (2,034,453) (1,056,192) Net incom
18. Deferred tax assets - net 5,496,515 7,452,071 Revaluat
19. Other assets - net of allowance 26,921,808 27,084,266 OTHER OPERATING EXPENSES Foreign e
9. Personnel expenses (17,479,907) (16,223,814) of fina
TOTAL ASSETS 1,592,357,319 1,553,605,352 10. General and administrative expenses (16,923,414) (17,353,307) Unrealise
11. Others (3,740,411) (3,992,898) at fair
LIABILITIES, TEMPORARY SYIRKAH DEPOSITS, DAN EQUITY Total other operating expenses (38,143,732) (37,570,019) Remeasu
Total com
LIABILITIES INCOME BEFORE TAX 67,864,287 60,865,925 Differenc
1. Deposits from customers 1,119,987,754 1,090,743,053 the di
2. Sharia deposits 3,929,755 3,200,075 INCOME TAX EXPENSE (13,402,919) (11,597,835) Paid-in c
3. Deposits from other banks 3,656,298 10,070,820 Cash div
4. Financial liabilities measured at fair value through profit or loss 257,613 122,765 NET INCOME 54,461,368 49,268,090 Balance,
5. Acceptance payables 4,651,955 6,701,256
6. Securities sold under agreements to repurchase 1,330,996 1,054,780 OTHER COMPREHENSIVE INCOME:
7. Debt securities issued - - 12. Items that will not be reclassified to profit or loss:
8. Tax payable 642,506 1,780,937 a. Remeasurements of defined benefit liability 71,847 (559,418)
9. Borrowings 2,242,516 1,629,626 b. Income tax (13,509) 106,450 CONSO
10. Deferred tax liabilities - - Remeasurements of defined benefit liability - net of income tax 58,338 (452,968) As of De
11. Estimated losses on commitments and contingencies 2,975,187 3,371,674 c. Revaluation surplus of fixed assets 238,886 231,837 (in million
12. Accrued expenses and other liabilities 27,621,306 29,575,869 297,224 (221,131)
13. Post-employment benefits obligation 9,099,608 9,033,017 13. Items that will be reclassified to profit or loss:
No.
14. Subordinated bonds 500,000 500,000 a. Unrealised gains (losses) on financial assets measured
TOTAL LIABILITIES 1,176,895,494 1,157,783,872 at fair value through other comprehensive income (824,292) (1,083,532)
b. Income tax 146,807 206,344 COM
15. Temporary syirkah deposits 9,063,133 7,893,872 Unrealised gains (losses) on financial assets Com
measured at fair value through 1. Unu
EQUITY other comprehensive income - net of income tax (677,485) (877,188) 2. Fore
16. Share capital 210,619,700 210,619,700 c. Foreign exchange differences arising from translation of d
17. Additional paid in capital (24,720,526) (24,720,821) financial statements in foreign currency 35,287 (7,866) 3. Othe
18. Revaluation surplus of fixed assets 2,553,839 2,442,617 (642,198) (885,054)
19. Foreign exchange differences arising from translation of financial Com
statements in foreign currency 58,948 39,561 OTHER COMPREHENSIVE INCOME, NET OF INCOME TAX (344,974) (1,106,185) 1. Unu
20. Unrealised gains (losses) on financial assets measured at fair value - Co
through other comprehensive income (61,897) 309,189 TOTAL COMPREHENSIVE INCOME 54,116,394 48,161,905 - Un
21. Retained earnings 98,952,584 89,405,763 2. Outs
22. Other equity components (5,073) (5,073) NET INCOME ATTRIBUTABLE TO: 3. Fore
Total equity attributable to equity holders of the parent Equity holders of parent entity 29,737,878 27,332,570 d
entity 287,397,575 278,090,936 Non-controlling interest 24,723,490 21,935,520 4. Othe
23. Non-controlling interest 119,001,117 109,836,672 54,461,368 49,268,090
TOTAL EQUITY 406,398,692 387,927,608 COMPREHENSIVE PROFIT ATTRIBUTABLE TO: CON
Equity holders of parent entity 29,549,344 26,725,195 Con
TOTAL LIABILITIES, TEMPORARY SYIRKAH DEPOSITS, AND EQUITY 1,592,357,319 1,553,605,352 Non-controlling interest 24,567,050 21,436,710 1. Rec
54,116,394 48,161,905 2. Othe
BASIC AND DILUTED EARNINGS PER SHARE Con
ATTRIBUTABLE TO EQUITY HOLDERS OF THE 1. Issu
PARENT ENTITY 141,192 129,772 2. Othe
2024 Annual Report PT Bank Central Asia Tbk 703
Page 706
Financial Statements
PT DWIMURIA INVESTAMA ANDALAN AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
For The Years Ended December 31, 2024 and 2023
(in millions of Rupiah)
Audited For The Years Ended December 31, 2024 and 2023 (Audited)
c 31, 2023 Attributable to equity holders of the parent entity
Foreign exchange
Unrealised gains (losses) on Total equity
ACCOUNTS Revaluation differences arising from
Issued and fully Additional paid- financial assets measured at Retained Other equity attributable to Non-controlling
surplus of fixed translation of financial Total equity
paid-up capital in capital fair value through other earnings components equity holders of interest
assets statements in foreign
comprehensive income - net the parent entity
87,345,628 currency
663,932
88,009,560 Balance, 31 December 2022 210,619,700 (24,720,821) 2,319,891 43,883 790,683 72,177,478 (5,073) 261,225,741 100,203,295 361,429,036
Net income for the year - - - - - 27,332,570 - 27,332,570 21,935,520 49,268,090
Revaluation surplus of fixed assets - - 122,726 - - 4,650 - 127,376 104,461 231,837
(11,959,844) Foreign exchange differences arising from translation
(313,134) of financial statements in foreign currency - - - (4,322) - - - (4,322) (3,544) (7,866)
(12,272,978) Unrealised gains (losses) on financial assets measured
at fair value through other comprehensive income - net - - - - (481,494) - - (481,494) (395,694) (877,188)
75,736,582 Remeasurements of defined benefit liability - net - - - - - (248,935) - (248,935) (204,033) (452,968)
Total comprehensive income for the year - - 122,726 (4,322) (481,494) 27,088,285 - 26,725,195 21,436,710 48,161,905
Difference on transaction amount from business
16,482,674 combination of entity under common control - - - - - - - - 1 1
1,598,565 Cash dividends - - - - - (9,860,000) - (9,860,000) (11,803,334) (21,663,334)
5,674,315 Balance, 31 December 2023 210,619,700 (24,720,821) 2,442,617 39,561 309,189 89,405,763 (5,073) 278,090,936 109,836,672 387,927,608
23,755,554
Balance, 31 December 2023 210,619,700 (24,720,821) 2,442,617 39,561 309,189 89,405,763 (5,073) 278,090,936 109,836,672 387,927,608
(1,056,192) Net income for the year - - - - - 29,737,878 - 29,737,878 24,723,490 54,461,368
Revaluation surplus of fixed assets - - 111,222 - - 20,027 - 131,249 107,637 238,886
Foreign exchange differences arising from translation
(16,223,814) of financial statements in foreign currency - - - 19,387 - - - 19,387 15,900 35,287
(17,353,307) Unrealised gains (losses) on financial assets measured
(3,992,898) at fair value through other comprehensive income - net - - - - (371,086) - - (371,086) (306,399) (677,485)
(37,570,019) Remeasurements of defined benefit liability - net - - - - - 31,916 - 31,916 26,422 58,338
Total comprehensive income for the year - - 111,222 19,387 (371,086) 29,789,821 - 29,549,344 24,567,050 54,116,394
60,865,925 Differences on transactions regarding
the disposal of Subsidiary - 295 - - - - - 295 (1) 294
(11,597,835) Paid-in capital on Subsidiary - - - - - - - - 11,161 11,161
Cash dividends - - - - - (20,243,000) - (20,243,000) (15,413,765) (35,656,765)
49,268,090 Balance, 31 December 2024 210,619,700 (24,720,526) 2,553,839 58,948 (61,897) 98,952,584 (5,073) 287,397,575 119,001,117 406,398,692
(559,418)
106,450 CONSOLIDATED STATEMENTS OF COMMITMENTS AND CONTINGENCIES
(452,968) As of December 31, 2024 and 2023
231,837 (in millions of Rupiah)
(221,131)
No. ACCOUNTS Audited Audited
Dec 31, 2024 Dec 31, 2023
(1,083,532)
206,344 COMMITMENTS
Committed receivables:
1. Unused borrowing/financing facilities 2,878,190 5,265,835
(877,188) 2. Foreign currency positions to be received from spot and
derivatives/forward transactions 29,456,807 19,638,294
(7,866) 3. Others 524,255 478,890
(885,054) 32,859,252 25,383,019
Committed liabilities:
(1,106,185) 1. Unused credit/financing facilities Jakarta, February 11, 2025
- Committed 320,618,854 289,767,268
48,161,905 - Uncommitted 93,421,932 91,068,656
2. Outstanding irrevocable letters of credit 10,055,508 11,259,633
3. Foreign currency positions to be submitted for spot and
27,332,570 derivatives/forward transactions 28,755,848 25,389,401
21,935,520 4. Others 1,091,414 871,058
49,268,090 453,943,556 418,356,016
CONTINGENCIES
26,725,195 Contingent receivables: Honky Harjo Agus Santoso Suwanto
21,436,710 1. Received guarantees 529,573 559,089 President Director Director
48,161,905 2. Others - -
529,573 559,089
Contingent liabilities:
1. Issued guarantees 26,725,750 22,749,308
129,772 2. Others 89 89
26,725,839 22,749,397
704 PT Bank Central Asia Tbk 2024 Annual Report
Page 707
Propelled
by
Trust
2024 ANNUAL
REPORT
PT Bank Central Asia Tbk
Head Office
Menara BCA, Grand Indonesia
Jl. M.H. Thamrin No. 1
Jakarta 10310, Indonesia
Tel. : (+62 21) 2358 8000
Fax. : (+62 21) 2358 8300
www.bca.co.id
Names mentioned 151 people and organisations named in the text · linked when the evidence is strong
unresolved
—
361 Performance Assessment
p.7
unresolved
—
397 Executive Committees
p.7
unresolved
—
430 Public Accountant (External
p.7
unresolved
—
445 Internal Control System
p.7
unresolved
org
Bank To Debtors Who Have Received Funding From
p.7
unresolved
org
Bank Recommended Retail Bank
p.8
unresolved
org
Bank Indonesia
p.8 ×20
unresolved
org
Bank Indonesia Award
p.8
unresolved
org
Ministry of Finance Republic
p.8
unresolved
org
Bank Indonesia’s
p.11
unresolved
org
Ministry of Energy
p.16
unresolved
org
Financial Services Authority
p.20 ×13
unresolved
org
Bank Indonesia Circular Letter
p.20
unresolved
org
Bank Central Asia Continuous Subordinated Bonds I Phase
p.23
unresolved
org
PT BCA
p.23 ×5
unresolved
org
Sekuritas (Persero) Tbk
p.23 ×2
unresolved
person
Deputy
· Director
p.30
unresolved
org
PT Dwimuria Investama Andalan
p.46
unresolved
org
Minister of Justice
p.46
unresolved
person
H. Thamrin
p.46 ×2
unresolved
org
Indonesia Stock Exchange
p.46 ×2
unresolved
org
PT BCA Finance Share
p.46
unresolved
org
PT BCA Syariah BBCA
p.46
unresolved
org
PT Bank Digital BCA
p.46 ×2
unresolved
org
PT Asuransi Umum BCA ISIN
p.46
unresolved
—
ISIN Code
p.46
unresolved
org
PT Asuransi Jiwa BCA ID
p.46
unresolved
—
ID1000109507
p.46
unresolved
org
PT Central Capital Ventura
p.46 ×2
unresolved
org
BCA Finance Limited
p.46 ×5
unresolved
org
Bank Indonesia Certificates
p.47
unresolved
org
PT Bank Central Limited
p.50
unresolved
org
PT Central Sejahtera
p.50
unresolved
org
PT Telkom
p.50
unresolved
org
Bank Restructuring Agency
p.50 ×3
unresolved
org
PT Central Santosa Finance
p.51
unresolved
org
Bank Royal
p.51 ×2
unresolved
org
PT Asuransi Jiwa BCA
p.51 ×4
unresolved
org
PT AIA Financial
p.51
unresolved
org
PT BCA Multi Finance Merger
p.54
unresolved
org
PT BCA Multi Finance
p.54 ×2
unresolved
org
Ministry of SOEs
p.57
unresolved
org
Directorate General of Taxes
p.57
unresolved
org
Ministry of Finance
p.57
unresolved
org
Bank Notes BCA Life Proteksi Kesehatan Travellers' Cheque
p.60
unresolved
org
Bank BCA Travel Insurance Vindi Money Market Mutual
p.60
unresolved
org
Bank Guarantees Payment Guarantee Schroder
p.61
unresolved
org
Banking BCA Finance Ltd.
p.62
unresolved
person
H. S. Hong Kong
p.62
unresolved
org
PT Indomobil
p.64 ×2
unresolved
org
PT Bank CIMB Gregory Hendra Lembong
p.65
unresolved
org
Niaga Tbk
p.65
unresolved
org
Bank London Indonesian
p.65
unresolved
org
PT Djarum
p.66
unresolved
org
PT BCA Sekuritas. CAREER
p.68
unresolved
org
PT Bank LTCB Central Asia
p.68
unresolved
org
PT Asuransi Jiwa Appointed
· Director
p.69
unresolved
org
PT Abacus Cash Solution
p.70 ×2
unresolved
org
PT Asuransi Adira Dinamika
p.71
unresolved
person
Division
· Director
p.71
unresolved
org
PT MBF
p.71
unresolved
org
PT McKinsey Indonesia. He
p.72
unresolved
—
STIE Appointed
· Director
p.73
unresolved
org
Yayasan Pendidikan Ujung Pandang
p.73
unresolved
org
PT Asuransi Umum BCA
p.74 ×3
unresolved
org
PT Bank BCA Syariah
p.74 ×2
unresolved
org
PT Bank BCA Syariah. Prior
p.74
unresolved
org
PT Bank Risjad Salim Internasional
p.74
unresolved
org
PT Bank DKI
p.75
unresolved
person
Deputy Division Head
· Director
p.75
unresolved
org
PT Cipta Karya Bumi Indah
p.77
unresolved
org
PT Sarana Kencana Mulya
p.77
unresolved
org
PT Tamara Indah
p.77
unresolved
person
CERTIFICATION
· Commissioner
p.77 ×2
unresolved
org
PT Sarana POSITIONS
p.77
unresolved
org
Menara Nusantara Tbk.
p.77
unresolved
org
Minister of Trade
p.78
unresolved
person
Next Bali’
· Commissioner
p.78
unresolved
org
PT Dana Reksa
p.79 ×2
unresolved
org
Minister of Finance
p.79 ×2
unresolved
person
Economic Affairs
· Commissioner
p.79
unresolved
org
Ministry of Appointed
p.79
unresolved
org
PT Pupuk Kujang
p.79
unresolved
org
PT Danakita Investama
p.80
unresolved
org
PT Surya Citra Televisi-SCTV
p.80
unresolved
org
PT Tugu Pratama Indonesia
p.82
unresolved
org
Drs. Hadi Sutanto & Rekan
p.82
unresolved
person
Drs. Hadi Sutanto
p.82
unresolved
org
PT Sewu New York Life
p.82
unresolved
org
PT Kustodian Depositori Efek Indonesia
p.82
unresolved
org
PT Indospec Asia
p.82
unresolved
org
PT WOM
p.82
unresolved
org
Finance Tbk.
· Member
p.82
unresolved
org
PT Putera Lintas Kemas
p.83
unresolved
org
PT. Abacus Teknika Solusindo
p.84
unresolved
org
PT. Zeals Digital Asia
p.84
unresolved
org
PT. Abacus Dana Pensiuntama
p.84
unresolved
org
PT Perusahaan Perdagangan Indonesia (Persero)
p.84
unresolved
org
PT BCA Finance. CAREER
p.88
unresolved
org
Bank Tiara Asia Tbk
p.88 ×2
unresolved
org
Bank Restructuring
p.88
unresolved
org
Bank Internasional Indonesia Tbk
p.88 ×2
unresolved
org
Tri Polyta Indonesia Tbk
p.88 ×2
unresolved
org
Chandra Asri Petrochemical Tbk
p.88 ×2
unresolved
org
Broadband Multimedia Tbk
p.88 ×2
unresolved
org
Indonesia Air Transport Tbk.
p.88 ×2
Extraction attempts how the parser did, and what it refused
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