Shares Reach IDR 10,000, BCA Boss Affirms No Stock Split Plan

President Director of PT Bank Central Asia Tbk (BCA) Jahja Setiaatmadja. (Photo: Doc. Antara)

JAKARTA - The share price of PT Bank Central Asia Tbk (BBCA) has exceeded the price of IDR 10,000 since early July 2024. However, the largest private bank in Indonesia is still reluctant to do a stock split.

BCA President Director Jahja Setiaatmadja emphasized that the stock split plan is also not in the Bank's Business Plan so there is no action to split shares this year.

"We emphasize that this year there will be no stock split. Next year we will not discuss it in the RBB," Jahja said in an online press conference, Wednesday, July 24.

Jahja said, reflecting on the previous one, the company had made a stock split in 2021 with a ratio of 1:5 when BBCA's share price was in the range of IDR 35,000. For that, he continued, when the share price was still IDR 10,000, no steps were needed to make a stock split.

"Currently it is still IDR 10,000, so at this time it is not necessary to do a stock split," concluded Jahja.

Just so you know, the private bank owned by the conglomerate Hartono brothers posted a net profit growth of 11.1 percent on an annual basis (yoy) to IDR 26.9 trillion in the first semester of 2024, supported by financing expansion and an increase in transaction volume and funding.

Overall, BCA's total credit disbursement and subsidiaries grew by 15.5 percent yoy to IDR 850 trillion as of June 2024. According to the company, the total credit growth was above the industry average.