Indonesia’s largest lender, PT Bank Central Asia (BCA), is preparing a series of major corporate actions through the end of 2025, though dismissing speculations that the plan include an initial public offering (IPO) for its digital banking subsidiary blu by BCA.

Addressing speculation among investors, BCA President Director Hendra Lembong said the company currently has no plans to take its digital arm public.

“For now, there are no IPO plans going forward,” Hendra said during BCA’s third-quarter 2025 performance presentation as quoted on Tuesday, October 21, 2025.

Rumors about blu’s IPO had circulated in the market as BCA intensified its focus on expanding its digital banking business.

Meanwhile, BCA Finance Director Vera Eve Lim reported that BCA Digital continued to deliver strong performance in the third quarter of 2025. The subsidiary recorded an 89 percent year-on-year (yoy) growth in net profit, reaching Rp135 billion (US$8 million), supported by 51 percent (yoy) credit growth.

“In the past nine months, BCA Digital has earned Rp135 billion in profit, with strong credit growth of 51 percent,” Vera said.

At the group level, BCA’s consolidated net profit rose 5.7 percent (yoy) to Rp43.4 trillion in the third quarter of 2025, with total loans expanding 7.6 percent (yoy) to Rp944 trillion.

In a move to support share price stability on the Indonesia Stock Exchange (IDX), BCA also announced a share buyback program worth up to Rp5 trillion.

The buyback period will run from October 22, 2025, to January 19, 2026, or for a maximum of three months from the date of disclosure on October 20, 2025. However, the process may conclude earlier in accordance with applicable regulations.