Research on the Development Process and Competitiveness of Central Asian bank in Indonesia

Abstract

This study aims to analyze the development process and current status of the Indonesian banking industry. In addition, we will investigate the founder, development process and current status of Bank Central Asia, an overseas Chinese bank that plays a central role in the Indonesian banking industry and analyze its competitiveness. Based on this analysis, we would like to propose practical implications and development strategies. Based on literature research, we will investigate the development process and current status of the Indonesian banking industry, the founders of Bank Central Asia, the development process and current status, and analyze its competitiveness. Using Porter's five forces analysis model, we want to analyze the competitiveness of Bank Central Asia. By utilizing SWOT analysis, we analyze the internal and external environment of Bank Central Asia. Bank Central Asia, although founded by overseas Chinese, is a leader in Indonesia's financial industry. Bank Central Asia has weaknesses in digital transformation, product innovation, customer experience, risk management, cooperation and innovation, but has strengths in network expansion, talent training, promotion and development system improvement. Based on this competitiveness, we have maintained a leading position in the Indonesian financial market. When formulating and executing strategies, Bank Central Asia must fully consider market trends, competitor dynamics, and changes in policies and regulations, make sound decisions, and monitor and adjust plans at any time. Bank Central Asia has maintained a good reputation and sustainable development based on external networks and internal competitiveness. A study on these overseas Chinese banks helps to understand the Southeast Asian economy.