Business · Singapore Bureau
DBS denies merger speculation with Indonesian bank BCA
DBS has dismissed rumours circulating on social media suggesting its Indonesian subsidiary could merge with Bank Central Asia. The speculation had triggered a notable surge in BCA's share price.
LSN Singapore ·
DBS Group Holdings has firmly denied reports that its Indonesian banking subsidiary is set to merge with Bank Central Asia (BCA), one of Indonesia's largest lenders.
The Singapore-based banking group issued a statement rejecting claims that had gained traction on social media platforms in recent days. The unverified speculation had prompted BCA's stock to rise as investors reacted to the potential combination.
Neither DBS nor BCA has announced any merger plans or discussions. The denial comes as a reminder of how rapidly unsubstantiated financial rumours can move markets, particularly through informal digital channels.
BCA is Indonesia's second-largest bank by assets, while DBS operates an established presence in the country through its subsidiary. The two institutions remain separate entities with their own strategic operations and ownership structures.