DBS denies Indonesian social media rumour that BCA will absorb PT Bank DBS Indonesia

Singapore's DBS Bank has dismissed as untrue a rumour circulating on Indonesian social media that BCA, Indonesia's largest private bank, would absorb its Indonesian subsidiary. The denial follows a 7% jump in BCA's share price on Wednesday, with traders citing the rumour as the catalyst.

Singapore's DBS Bank has denied a rumour circulating on Indonesian social media that PT Bank DBS Indonesia, its Indonesian subsidiary, would be absorbed by PT Bank Central Asia Tbk (BCA).

"There is no truth to this rumour," a DBS spokesman told The Straits Times in response to queries. The social media posts had claimed that DBS Indonesia's shareholders would receive newly issued BCA shares in exchange.

PT Bank DBS Indonesia offers corporate, small and medium enterprise, consumer and wealth management services across the archipelago. Jakarta-headquartered BCA is Indonesia's largest private bank by market capitalisation and is ultimately controlled by Robert Budi Hartono, who has a net worth of US$12.9 billion.

BCA's share price rose 7 per cent on Wednesday, with the rumour cited as the reason for the gain. This is the second merger rumour involving BCA in recent weeks. According to Indonesian news platform Bisnis, BCA was recently reported to be a potential acquisition target of businessman Andi Syamsudin Arsyad, also known as Haji Isam. BCA quickly denied that report, stating it would continue to operate prudently.

BCA shares were among those cited as attractive buys when the Jakarta Composite Index plunged earlier in 2026, after index provider MSCI warned that Indonesia could be downgraded from emerging-market status.