Michael Hartono, The Owner Of BCA Where FPI Saves Money, Was Awkward In Holding The BRI Saving Book

JAKARTA - There was a special story at the 2018 Asian Games in Jakarta and Palembang several years ago. It is not a matter of Indonesia's success in holding the biggest sports party in the Yellow Continent. But about the involvement of one of the domestic athletes who is predicated as the richest man in this country.

The name is Michael Bambang Hartono, 81 years old, a national bridge athlete who successfully won a bronze medal at the 2018 Asian Games. This friendly man who always throws a smile feels compelled to participate in and contribute to the country through the bridge sport he does.

Sure enough, Michael Hartono's seriousness in competing resulted in an achievement that increased Indonesia's medal coffers at the event. As a form of appreciation, the government through the Ministry of Youth and Sports (Kemenpora) then rewarded Bambang with an achievement bonus of IDR 150 million.

For most athletes, this is a fair amount for an individual reward measure. However, for Bambang, this figure may only be a fraction of the value of his assets. Why is that? Because Bambang, together with his younger brother Robert Budi Hartono, are estimated to have a wealth of 38.8 billion US dollars or the equivalent of Rp.548.2 trillion.

Not only that, the largest private bank in the country, namely PT Bank Central Asia Tbk (BCA), is known to be one of the business lines worked on by the Hartono family with a share ownership percentage of 54.9 percent. Just so you know, at the end of 2019, Bambang successfully pocketed a profit of IDR 7.51 trillion from his investment in BCA for one year period.

Not to mention the cuan being dredged from cigarette trading activities under the Djarum Super trademark, which is the main business of the Hartono clan today. So it was a wise thing when Bambang immediately donated all his 'wages' for his achievements at the 2018 Asian Games of IDR 150 million for the development of bridge sports in Indonesia.

The government appointed PT Bank Rakyat Indonesia Tbk (BRI) as a financial service institution that distributes achievement bonuses for the 2018 Asian Games athletes. Bambang, as the controlling shareholder of BCA, looked awkward when asked to show an account book with the BRI logo as a symbol of receiving an athlete bonus.

How could it not be, BRI and BCA are actually 'fighting' at a class level because they are both in the category of commercial bank category (BUKU) IV with a core capital of more than IDR 30 trillion. In Indonesia, only six banks are included in the BUKU IV strata, namely, BRI, Bank Mandiri, BCA, BNI, Bank CIMB Niaga, and Bank Danamon.

From the head-to-head side, BRI and BCA have both successfully recorded impressive results in terms of performance. Based on the annual report for the 2019 period, BRI managed a net profit of IDR 34.41 trillion, with assets of IDR 1,418 trillion. Meanwhile, BCA recorded a profit of IDR 28.6 trillion and assets of IDR 918 trillion.

As previously reported, the bank owned by Michael and his younger brother, Budi Hartono, BCA, is currently being discussed by the public. This was after BCA became known as a financial service institution where the Islamic Defenders Front (FPI) deposited its funds.

In its official statement, the bank with the issuer ticker BBCA said that FPI's financial activities at the company had been frozen.