Indonesia's best domestic bank 2021: Bank Central Asia
Bank Central Asia
During the last Asiamoney awards period, Indonesia's banks were just beginning to tackle the economic consequences of the Covid-19 pandemic. But the latest awards period was even tougher, as it encompassed a full 12 months of the health crisis.
To be the top bank in Indonesia under such conditions required resilience, the ability to adapt and the drive to support communities during particularly difficult times. Many banks made clear and valiant efforts to do those things, but Bank Central Asia, under the leadership of president director Jahja Setiaatmadja, stood out as the best.
Despite numerous obstacles, BCA reported a net profit of Rp14.46 trillion ($1 billion) in the first half of 2021, up 18.1% from the same period a year ago. In the second quarter alone, net profit surged 31% to Rp7.4 trillion.
BCA owes its success to its existing capabilities. For example, the bank's digital strategy served it well as customers were forced to bank from home. Its existing digital options, with payment and e-commerce partnerships, put it a step ahead of the competition, and made BCA a formidable rival.