Good News From BCA, The Interest Rate On Bank Deposits Controlled By Conglomerate Hartono Brothers Is Only 1 Percent

JAKARTA - PT Bank Central Asia Tbk alias BCA has again cut the rupiah deposit interest rate. At the beginning of this year, BCA set the latest rupiah deposit interest rate which will be effective starting January 20, 2022, which is at the level of 1 percent.

In an official statement from BCA, quoted on Tuesday, January 25, the interest rate on rupiah deposits is currently set at 1.90 percent per year. The interest rate of the bank owned by the conglomerate Hartono Brothers applies to all nominal and term deposits.

For information, the previously applicable deposit interest rate was 2.00 percent per year which was valid as of December 1, 2021.

Executive Vice President Secretariat & Corporate Communication of BCA, Hera F. Haryn, previously said that the company had adjusted the interest rate given to customers in line with the movement of the benchmark interest rate (BI 7 Days Reverse Repo Rate), and taking into account the development of business economic conditions in the country.

Hera added that BCA has reduced interest rates 5 times since July 2021. According to her, the company will continue to review the policy in order to provide a positive response to the industry and business sector.

She said that until September 2021, the performance of BCA's Third Party Funds (DPK) was solid with CASA increasing by 21.0 percent on an annual basis (yoy) to IDR 721.8 trillion.

"This growth is in line with the increase in transaction value, a larger customer base, as well as the strengthening and expansion of the service ecosystem with the bank's business partners," said Hera.

Meanwhile, time deposits increased 9.7 percent yoy to reach IDR 201.9 trillion. Overall, total deposits grew 18.3 percent yoy from the same period last year to IDR 923.7 trillion, pushing total assets up 16.5 percent yoy to reach IDR 1,169.3 trillion.