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BCA Strengthens Automotive Finance Market with Subsidiary Consolidation


  • The merger of BCA Finance and BCA Multi Finance aims to create a stronger, more efficient entity in automotive financing.

  • Customers will continue to receive uninterrupted services and benefits as all rights and obligations transfer to BCA Finance.



By Nadila Shannen Choirunnisa, Ragaldi Wira Nayottama, Raisha Adistia Fawwazi, Yazid Akbar

July 5, 2024 at 16:30 GMT+7


PT BCA Finance and PT BCA Multi Finance announced a merger plan targeted for completion on Sunday (9/1). These steps aim to create a stronger and more efficient entity by optimizing used car and motorcycle financing. 


The merger is also expected to strengthen the BCA business group position in the financing sector in Indonesia, whilst delivering superior and more efficient financing services. The merger has received approval from the Otoritas Jasa Keuangan (OJK), and the final decision will be made during the annual shareholders meeting (RUPS). Following the merger, all rights and obligations previously held by BCA Multi Finance will be fully transferred to BCA Finance. 



Former BCA Multi Finance customers will continue to receive the same facilities, benefits, and services without any alterations. The merger will also involve the integration of organizational structures and human resources, along with keeping key employees to ensure a smooth transition.


BCA President Director, Jahja Setiaatmadja, Wins CEO of The Year Asia Pacific 2023 Award | Source: BCA


The merger aims to enhance operational efficiency and strengthen the companies' position in the automotive financing sector. The integration will involve a thorough transfer of rights and obligations to BCA Finance, protecting the interests of employees, customers, and creditors. 


Customers will enjoy uninterrupted service and benefit from a unified entity that leverages the best practices and resources of both companies. BCA Finance will maintain high service quality and stable employment relationships during the transition by carefully managing staff integration and preserving key roles. 



As a result, the merger will provide customers with continued access to reliable financing services, supported by a more robust organizational structure. Ultimately, this consolidation will create a more resilient and effective entity, delivering enhanced value and convenience to all stakeholders.


BCA Finance | Source: BCA


The consolidation between BCA Finance and BCA Multi Finance, approved by the Otoritas Jasa Keuangan (OJK), holds strategic importance for BCA Group. Combining these entities will transform BCA Finance into a more efficient and robust financing company, strengthening BCA Group's position in Indonesia's financial sector. 


Post-merger, BCA Finance will offer financing for both two-wheeled and four-wheeled vehicles, making it a major player in the automotive financing industry. For customers, the merger will not affect the services or benefits they receive. 



Thus, they will still be able to make payments and collect documents at BCA Multi Finance branches, which will be renamed BCA Finance. With a larger business scale and a stronger position in the financing industry, BCA Group's prospects are promising.



 

Sources:

BCA

CNBC

IDX Channel

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