BCA Establishes Central Capital Venture, Injects 200 Billion Rupiah

Based on information disclosure on the Indonesia Stock Exchange (IDX), on January 25, 2017 BCA and PT BCA Finance signed a deed of establishment of venture capital under the name PT Central Capital Ventura (CCV). This company is recorded as having obtained an official permit from OJK on December 27, 2016 through OJK letter Number S-208/PB.33/2016.

BCA Deputy President Director Armand Wahyudi Hartono explained that the company has prepared a paid-up capital of Rp 200 billion with 100% share ownership is BCA. Armand explained that CCV will later invest and collaborate with fintech companies.

CCV is also expected to support the financial service ecosystem of BCA and BCA's subsidiaries, as well as provide added value for BCA customers, particularly the general public.

"Considering that in this digital era, fintech companies have great potential to grow and develop, it is hoped that CCV can become a growing venture company and have a prospective business," Armand wrote.

The presence of CCV also adds to the portfolio of BCA subsidiaries. Currently, BCA has seven subsidiaries engaged in financial services, namely BCA Syariah, BCA Finance, BCA Insurance, BCA Finance Limited, BCA Sekuritas, CS Finance, and BCA Life.

CCV has also heated up the competitive landscape of Indonesian banking, which is starting to approach the digital direction as its newest distribution channel. So far, the bank that has venture capital is Bank Mandiri with Mandiri Capital Indonesia (MCI). Other state-owned banks such as BNI stated that they would acquire venture capital, temporary latest news BRI said it was still in the study stage.