It’s official: DBS is no longer Southeast Asia’s largest bank

Indonesia’s BCA snatched the crown.

Indonesian lender Bank Central Asia is now the region’s largest bank in terms of market capitalisation, toppling Singapore-based DBS from the top spot.

This chart from Bloomberg shows that BCA's market cap has exceeded US$24 billion, while DBS's market cap has dropped below this threshold.

DBS’s shares have lost 37.8% of their value since August last year. The group’s share price dropped to $13.140 per unit in Thursday’s trading, compared to its recent peak of $21.120 in August 21.

In contrast, BCA’s share price has risen 18.6% from a low of IDR 11,252 per unit in August 24 to close at INR 13,350 per share as of Thursday.