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PT BANK CENTRAL ASIA Tbk AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2024 AND 2023
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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.
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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.
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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.
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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.
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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)
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.
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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)
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
The accompanying notes to the consolidated financial statements form an integral part of these consolidated financial statements.
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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.
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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.
Page 16
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.
Page 17
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).
Page 18
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.
Page 19
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.
Page 20
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).
Page 21
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.
Page 22
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.
Page 23
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.
Page 24
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.
Page 25
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.
Page 26
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
Page 27
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.
Page 28
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.
Page 29
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”.
Page 30
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.
Page 31
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").
Page 32
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.
Page 33
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.
Page 34
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.
Page 35
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.
Page 36
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.
Page 37
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.
Page 38
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
Page 39
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.
Page 40
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.
Page 41
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.
Page 42
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.
Page 43
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.
Page 44
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.
Page 45
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.
Page 46
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.
Page 47
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.
Page 48
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.
Page 49
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.
Page 50
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.
Page 51
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.
Page 52
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.
Page 53
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.
Page 54
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.
Page 55
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.
Page 56
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.
Page 57
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.
Page 58
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.
Page 59
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.
Page 60
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;
Page 61
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.
Page 62
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.
Page 63
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.
Page 64
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%
Page 65
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
Page 66
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
Page 67
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.
Page 68
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)
Page 69
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
Page 70
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.
Page 71
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
Page 72
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
Page 73
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
Page 74
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.
Page 75
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.
Page 76
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.
Page 77
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
Page 78
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.
Page 79
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
Page 80
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.
Page 81
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
Page 82
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
Page 83
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 - - -
Page 84
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
Page 85
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
Page 86
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
Page 87
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.
Page 88
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
Page 89
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.
Page 90
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
Page 91
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.
Page 92
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.
Page 93
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.
Page 94
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
Page 95
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
Page 96
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 - - - -
Page 97
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.
Page 98
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.
Page 99
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.
Page 100
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.
Page 101
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
Page 102
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
Page 103
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
Page 104
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.
Page 105
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;
Page 106
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.
Page 107
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).
Page 108
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.
Page 109
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.
Page 110
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.
Page 111
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
Page 112
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.
Page 113
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.
Page 114
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.
Page 115
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.
Page 116
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
Page 117
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.
Page 118
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.
Page 119
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
Page 120
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
Page 121
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.
Page 122
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
Page 123
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
Page 124
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
Page 125
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.
Page 126
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
Page 127
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.
Page 128
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.
Page 129
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.
Page 130
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
Page 131
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
Page 132
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
Page 133
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
Page 134
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
Page 135
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,
Page 136
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),
Page 137
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,
Page 138
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,
Page 139
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
Page 140
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)
Page 141
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.
Page 142
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.
Page 143
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
Page 144
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.
Page 145
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.
Page 146
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.
Page 147
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.
Page 148
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).
Page 149
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
Page 150
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.
Page 151
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
Page 152
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
Page 153
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
Page 154
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
Page 155
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
Page 156
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
Page 157
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
Page 158
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
Page 159
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.
Page 160
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.
Page 161
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) ///
Page 162
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.
Page 163
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
Page 164
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%
Page 165
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.
Page 166
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
Page 167
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
Page 168
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
Page 169
PT BANK CENTRAL ASIA Tbk Schedule 6/4
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
Page 170
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)
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
Page 171
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)
Page 172
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
Names mentioned 222 people and organisations named in the text · linked when the evidence is strong
unresolved
org
Bank Indonesia
p.8 ×81
unresolved
person
Raden Mas Soeprapto
· Notaris
p.16
unresolved
org
Minister of Justice
p.16 ×3
unresolved
person
Wargio Suhardjo
p.16
unresolved
person
Notary Hendra Karyadi
· Notaris
p.16 ×14
unresolved
org
Bapepam-LK
p.16 ×6
unresolved
person
Doktor Irawan Soerodjo
· Notaris
p.16
unresolved
org
Minister of Law
p.16 ×3
unresolved
org
Financial Services Authority
p.16 ×6
unresolved
org
Minister of Law and Human Rights
p.16 ×13
unresolved
person
H. Thamrin
p.17 ×3
unresolved
org
Bank Restructuring Agency
p.17
unresolved
org
Minister of Finance
p.17 ×3
unresolved
org
Bank Taken Over. In
p.17
unresolved
org
Government of the Republic of Indonesia
p.17
unresolved
org
Bank Indonesia Regulation
p.18
unresolved
org
Indonesia Stock Exchange
p.18 ×3
unresolved
org
Directorate General of General Legal Administration
p.18
unresolved
org
Ministry of Justice and Human Rights
p.18 ×2
unresolved
person
Notary Christina Dwi Utami S.H.
· Notaris
p.20 ×16
unresolved
org
PT Dwimuria Investama Andalan
p.20
unresolved
org
Bambang Hartono. Subordinated Bonds Bank Central Asia
p.20
unresolved
org
Bank Central Asia Continuous Subordinated Bonds I Phase
p.20 ×8
unresolved
person
Aulia Taufani
· Notaris
p.20
unresolved
org
PT BCA Finance
p.21 ×23
unresolved
org
PT Bank BCA Syariah
p.21 ×15
unresolved
org
PT BCA Multi Finance
p.21 ×10
unresolved
org
PT Asuransi Jiwa
p.21
unresolved
org
PT Central Capital
p.21
unresolved
org
PT Bank Digital BCA
p.21 ×10
unresolved
org
PT Central Sari Metropolitan Leasing Corporation
p.21 ×2
unresolved
org
Japan Leasing Corporation
p.21
unresolved
org
PT Central Sari Finance
p.22
unresolved
org
PT Central Sari Finance’s
p.22
unresolved
org
PT BCA Finance. On
p.22
unresolved
org
BCA Finance Limited BCA Finance Limited
p.22
unresolved
org
PT Bank UIB
p.22 ×2
unresolved
person
Notary Ny. Pudji Redjeki Irawati
p.22 ×2
unresolved
org
PT Dinamika Usaha Jaya
p.23 ×2
unresolved
person
Notary Dr. Irawan Soerodjo
· Notaris
p.23 ×9
unresolved
org
PT BCA Sekuritas. This Amendment
p.23
unresolved
org
PT Asuransi Umum BCA
p.23 ×8
unresolved
org
PT Asuransi Ganesha Danamas. In
p.23
unresolved
org
PT Asuransi Ganesha Danamas
p.23
unresolved
org
PT Transpacific General Insurance
p.23
unresolved
org
PT Central Sejahtera Insurance.
p.23 ×3
unresolved
person
Notary Veronica Sandra Irawaty Purnadi
p.24 ×3
unresolved
org
PT Asuransi Umum BCA. This
p.24
unresolved
org
PT Central Santosa Finance
p.24 ×3
unresolved
person
Notary Fransiscus Xaverius Budi Santosa Isbandi
p.24
unresolved
org
PT BCA Multi Finance. This
p.24
unresolved
org
PT Asuransi Jiwa BCA
p.24 ×7
unresolved
org
PT Central Capital Ventura
p.25 ×9
unresolved
org
PT Bank Rakjat Parahyangan
p.25 ×2
unresolved
person
Notary R. Soerojo Wongsowidjojo
p.25 ×2
unresolved
org
PT Bank Pasar Rakyat Parahyangan.
p.25 ×3
unresolved
org
Ministry of Justice
p.25
unresolved
person
Notary Misahardi Wilamarta
p.25
unresolved
org
PT Bank Royal Indonesia
p.25 ×7
unresolved
org
PT Bank Royal Indonesia. Acquisition
p.25
unresolved
person
Notary Sakti Lo
· Notaris
p.26
unresolved
org
Ministry of Law and Human Rights of The Republic of Indonesia
p.27
unresolved
org
Bank Indonesia Treasury Bills
p.43 ×2
unresolved
org
PT BCA Digital
p.50
unresolved
org
Reksa Dana Terproteksi Syailendra Capital Protected Fund
p.81
unresolved
org
Reksa Dana Batavia Dana Kas Gebyar
p.81
unresolved
org
Reksa Dana Tram Pundi Kas
p.81
unresolved
org
Reksa Dana Terproteksi Trimegah Terproteksi Dana Berkala
p.81
unresolved
org
Reksa Dana Terproteksi Ashmore Dana Terproteksi Nusantara IV
p.81
unresolved
org
Reksa Dana Terproteksi Bahana Centrum Protected Fund
p.81 ×3
unresolved
org
Reksa Dana Terproteksi Batavia Proteksi Maxima
p.81 ×2
unresolved
org
Reksa Dana Terproteksi Schroder IDR Income Plan VII
p.81
unresolved
org
Reksa Dana Terproteksi Mandiri Investa
p.81 ×2
unresolved
org
Reksa Dana Terproteksi Panin Proteksi
p.81 ×2
unresolved
org
Reksa Dana Terproteksi BNI-AM Proteksi Amarilis
p.81
unresolved
org
Reksa Dana Terproteksi Eastspring Bakti Proteksi
p.81
unresolved
org
Reksa Dana Terproteksi Danareksa Proteksi
p.81 ×2
unresolved
org
Reksa Dana Terproteksi Trimegah Dana Berkala
p.81 ×2
unresolved
org
Reksa Dana Terproteksi Premier Proteksi XII
p.81
unresolved
org
Reksa Dana Terproteksi Allianz Capital Protected Fund
p.81 ×2
unresolved
org
Reksa Dana Terproteksi BNI-AM Proteksi Kamelia
p.81
unresolved
org
Reksa Dana Terproteksi Manulife Proteksi Dana Utama VI
p.81
unresolved
org
Reksa Dana Terproteksi BRI MI Proteksi
p.81
unresolved
org
Reksa Dana Terproteksi Manulife Proteksi Dana Utama VII
p.81
unresolved
org
Reksa Dana BNP Paribas Obligasi Berlian
p.81
unresolved
org
Reksa Dana Terproteksi BNP Paribas Lumina Proteksi
p.81
unresolved
org
Reksa Dana Syariah Trimegah Kas Syariah
p.81 ×2
unresolved
org
Reksa Dana Syariah Penyertaan Terbatas PNM Pembiayaan Mikro BUMN
p.81 ×5
unresolved
org
Reksa Dana Bahana ABF Indonesia Bond Index Fund
p.81
unresolved
org
Reksa Dana Syariah Majoris Pasar Uang Syariah Indonesia
p.81
unresolved
org
Reksa Dana Eastspring Syariah Fixed Income Amanah Kelas A
p.81
unresolved
org
Reksa Dana Syailendra Pendapatan Tetap Premium
p.82
unresolved
org
Reksa Dana BNP Paribas Prima II
p.82
unresolved
org
Reksa Dana Schroder Prestasi Gebyar Indonesia II
p.82
unresolved
org
Reksa Dana Sucorinvest Sharia Sukuk Fund
p.82
unresolved
org
Reksa Dana Bahana Pendapatan Tetap Makara Prima Kelas I
p.82
unresolved
org
Reksa Dana BNP Paribas Sri Kehati
p.82
unresolved
org
Reksa Dana Syariah Majoris Sukuk Negara Indonesia
p.82
unresolved
org
Reksa Dana Syariah Syailendra Money Market Fund
p.82
unresolved
org
Reksa Dana Syariah Pasar Uang PNM Falah
p.82
unresolved
org
Reksa Dana Pendapatan Tetap Sucorinvest Stable Fund
p.82
unresolved
org
Reksa Dana Sucorinvest Money Market Fund
p.82
unresolved
org
Reksa Dana Bahana MES Syariah Fund Kelas G
p.82
unresolved
org
Reksa Dana Syailendra Dana Kas
p.82
unresolved
org
Reksa Dana Bahana Dana Likuid
p.82
unresolved
org
PT Digital Otomotif Indonesia
p.83
unresolved
org
PT Kliring Penjaminan Indonesia
p.83
unresolved
org
KPEI
p.83 ×2
unresolved
org
PT Bank Mandiri Taspen
p.85
unresolved
org
PT Bank Pembangunan Daerah Sulawesi Selatan
p.85
unresolved
org
PT Bank SulutGo
p.85
unresolved
org
PT BRI Multifinance Indonesia
p.85
unresolved
org
Chandra Asri Petrochemical Tbk
p.85 ×2
unresolved
org
PT Federal Internasional Finance
p.85
unresolved
org
PT Indah Kiat Pulp
p.85
unresolved
org
Paper Tbk
p.85
unresolved
org
PT Lontar Papyrus Pulp
p.85
unresolved
org
PT Oki Pulp
p.85
unresolved
org
Tiphone Mobile Indonesia Tbk
p.85 ×2
unresolved
org
PT Sinar Mas Agro Resources
p.85
unresolved
org
Technology Tbk
p.85
unresolved
org
PT Steel Pipe Industry
p.85
unresolved
org
Indonesia Tbk
p.85 ×2
unresolved
org
PT Toyota Astra Financial Services
p.85
unresolved
org
Directorate General of Taxes
p.93 ×14
unresolved
org
Sumitomo Mitsui Banking Corporation
p.100 ×2
unresolved
org
PT SMBC Indonesia Tbk
p.101
unresolved
org
PT Bank DKI
p.101
unresolved
org
PT Kliring Penjaminan Efek Indonesia
p.104
unresolved
org
PT Pemeringkat Efek Indonesia
p.105
unresolved
org
PT Pefindo
p.105
unresolved
org
Bank Central Asia Continuous Subordinated Bonds I
p.105
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