BCA Dapet Restu OJK Merges Two Subsidiaries

BCA President Director Jahja Setiaatmadja (Photo: Dok VOI)

JAKARTA - PT BCA Finance and PT BCA Multi Finance, two subsidiaries of PT Bank Central Asia Tbk (BCA), have received approval from the Financial Services Authority (OJK) to merge or merge the company.

According to the company, the merger was carried out in order to strengthen the automotive financing business. Post-merger, BCA Finance will become the company receiving the merger (surviving entity).

BCA President Director Jahja Setiaatmadja said that the BCA Group sees promising long-term growth potential in the automotive financing market.

"This merger will unite the best potential BCA financing services, which we hope can produce a new entity that is stronger, superior, efficient, and effective," said Jahja quoting Antara.

He also ensured that the BCA Multi Finance motorcycle financing business line would certainly remain in the market and become part of the BCA Finance.

For information, the two companies are both engaged in the financing industry (multifinance). But at this time, BCA Finance is focusing on four-wheel financing, while BCA Multi Finance prioritizes two-wheel financing.

The company said that the merger of the two subsidiaries is in line with the BCA Group's commitment to serving consumers in various automotive financing segments. The merger of the two entities is expected to further improve service performance and financing quality to consumers.

BCA Finance will carry out comprehensive integration by paying attention to all stakeholders including consumers, creditors, business partners, employees and shareholders.

As part of the BCA Group ecosystem, both BCA Finance and BCA Multi Finance will ensure that employee rights are fulfilled in accordance with applicable laws and regulations. The working relationship between BCA Multi Finance employees will switch to BCA Finance.

After the effective merger takes effect, all BCA Multi Finance consumers will switch status to BCA Finance consumers. Ex-BCA Multi Finance consumers will get facilities, benefits, and all BCA Finance product features.

According to the company, there are no changes in post-merger services or benefits. All BCA Multi Finance consumers can also still make installment payments and take documents at the BCA Multi Finance branch office, which will change its name to BCA Finance.

Currently, BCA Multi Finance consumers can still contact the BCA Multi Finance office as usual. After the effective merger, BCA Multi Finance consumers who want to get information about motor vehicle credit, installment payments, collection of collateral documents, and/or other financing services/facilitations can access official information through the BCA Finance website and various other BCA Finance information channels.