Original Coverage & Source Attribution: fintechnews.sg
DBS has rejected claims that its Indonesian subsidiary could merge with Bank Central Asia (BCA) through a share exchange.
The Straits Times reported that the speculation circulated on Indonesian social media as BCA shares rallied on 28 October.
BCA shares rose 7.65 percent to close at Rp5,275 that day. The speculation coincided with the rally, although its impact on the share price remains unclear.
Social media posts described a transaction in which DBS Indonesia’s shareholders would receive newly issued BCA shares, leaving BCA as the surviving entity.
Mona Monika, Head of Group Marketing and Communications at DBS Indonesia, separately denied the rumours.
BCA’s President Commissioner Jahja Setiaatmadja also rejected the speculation, according to Indonesian media reports.
DBS Indonesia’s 2025 annual report shows that DBS Bank held a 99 percent stake in the subsidiary, with BCA owning the remaining 1 percent.
Featured image: Edited by Fintech News Singapore, based on image by DBS
