FinanceAsia Country Achievement Awards - Indonesia

Best Domestic Commercial Bank Bank Central Asia

Selecting the best bank in Indonesia is not a task for the faint-hearted. We have chosen Bank Central Asia, which in some respects is not a bank at all but rather a huge vehicle that holds government bonds. The bank's portfolio is 94% in government bonds and only 4% in loans. But that is why we like it.

Investors tend to agree, as is indicated by the success of its $114.9 million privatization in May. Around 30% of the placement was with international investors who view the former Salim-family bank as a good vehicle. Given that its balance sheet is...