BCA was first founded on 21 February 1957 as Bank Central Asia NV. A lot of things have happened since then-the most significant of all being perhaps the Asian monetary crisis in 1997.
Although this crisis had a tremendous impact on Indonesia's entire banking system, in particular it affected BCA's cash flow and even threatened its survival. Panic rush forced the bank to seek assistance from the Indonesian government. The Indonesian Banking Restructuring Agency (IBRA) took over BCA in 1998.
Thanks to its management's business sagacity and shrewd decision making, full recovery was accomplished later in the same year. In December of 1998, third-party funds were back at the pre-crisis levels. BCA's assets stood at Rp 67.93 trillion, as opposed to Rp 53.36 trillion in December 1997. Public confidence in BCA was fully restored, and BCA was released by IBRA to BI in 2000.