BCA drops 6.5%

Stock price of Bank Central Asia (BCA) lost ground this morning with 6.54% drop on news about placement of shares by Farallon.

BCA was heavily traded with over 20 million shares exchanged hands in the first hour of trading. BCA has left its bottom at Rp2025 in October 2008 to reach Rp3500 in January 5th, 2009. But then the stock retreated to as low as Rp2300 in early March before regained grounds an touched new high at Rp3975 two weeks ago. Since then, BCA keeps falling to reach Rp3575 this morning.

BCA is one of the most profitable banks with combined net profit of Rp18.1 trillion or around US$1.8 billion in the last four years (2005-2008).

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