Top List of Banks in Indonesia
Indonesia has many banks and other financial institutions, but only a few of these banks have stood out over the years. If you are looking for the best banks in Indonesia, this guide is what you need. We will be showing you the top banks in Indonesia to help you pick out the right Bank. If you reside in Indonesia or are thinking of moving to Indonesia, we would advise that you consider opening an account with any of these banks listed below. The following are some of the top banks in Indonesia:
PT. Bank Rakyat Indonesia
PT. Bank Rakyat Indonesia (Persero) Tbk is an Indonesian government-owned development bank that was founded on December 16, 1895 in Bandung as De Poerwokertosche Hulp en Spaarbank der Inlandsche Hoofden. Currently, BRI serves more than 80 million customers with over 4,000 branches across the country. In August 2019, it had 125,602 employees and total assets of Rp 1,512 trillion (US$106 billion) as of the end of 2020. BRI is one of the largest banks in Indonesia by the number of customers and branches, but Bank Mandiri has overtaken it in terms of assets and market capitalization.
The Bank's business focuses on retail banking services for micro, small and medium enterprises (MSMEs). Based in the headquarters in Jakarta, the bank is supported by 10 regional offices which are located in Bandung, Surabaya, Semarang, Denpasar, Makassar, Medan, Balikpapan, Pontianak, Palembang and Manado.
PT. Bank Mandiri
Bank Mandiri (Persero) Tbk is an Indonesian bank founded on October 2, 1998. As of December 2019, the Bank reported total assets of IDR 1,318 trillion (US$90 billion), a loan portfolio of IDR 672 trillion (US$46 billion), customer deposits of IDR 861 trillion (US$59 billion), total shareholders' equity of IDR 108 trillion (US$7.4 billion). Bank Mandiri employs 39,065 staff spread in 2,511 offices across Indonesia and seven overseas offices in Hong Kong, Beijing, London, New York City, and Tokyo. The Company offers banking products and services, including domestic and international transactions, cash management services, trade finance, and investment banking.
PT. Bank Central Asia
PT Bank Central Asia Tbk or BCA is an Indonesian bank. It is one of the largest banks in Indonesia, with a strong focus on consumer banking. BCA was founded by Justo Pangaribuan in 1957 as a private company under the name of Bank Central Asia NL (later NV), then later changed to PT Bank Central Asia in 1991.
BCA currently has over 1,000 branches across Indonesia and approximately 17 million customers. Its network extends to all regions of Indonesia and overseas to Hong Kong SAR, Singapore, and Malaysia. BCA also provides its services through internet and mobile banking facilities.
As of December 31, 2019, BCA had total assets of Rp1,129 trillion (US$76.6 billion), total loans of Rp637 trillion (US$44 billion), total deposits of Rp826 trillion (US$57 billion), and shareholders' equity of Rp68 trillion. As the period ended in 2019, the Bank had 24,789 employees across its branches.
PT. Bank Negara Indonesia
PT. Bank Negara Indonesia (Persero) Tbk or BNI is Indonesia's reputable state-owned banking company. The Company was established in 1946, and its head office is registered at Jl MH Thamrin No 1 Jakarta Pusat 10350. As of December 2019, the Company has total assets of around IDR 845.6 trillion and 27,211 employees in 1,076 offices-plus branches throughout Indonesia.
The Bank had a total of 27,211 employees for the year ended 2019. BNI offers retail banking products such as savings accounts and current accounts to individual customers; SME banking products such as working capital financing to small and medium-sized enterprises (SMEs); corporate banking products to large corporations; treasury products; investment banking services; and other financial services to corporate clients and high net worth individuals. The Bank is also involved in bancassurance through its subsidiary BNI Life Insurance.
Bank CIMB Niaga
Bank CIMB Niaga was founded in 1955 as Bank Niaga. The Bank is one of the largest banks in Indonesia by market capitalization.
As of 2019, Bank CIMB Niaga has 408 branches across Indonesia. It also operates 10 Priority Banking Centres and one Priority Lounge at Soekarno-Hatta International Airport, Jakarta. Bank CIMB Niaga offers a wide range of financial services through consumer banking, SME banking, commercial banking, and corporate & investment banking units. It also offers investment banking and asset management services. The Company was formerly known as Commerce International Merchant Bankers Berhad. The Bank's assets reach 274.5 trillion IDR (2019), with deposits at 230 trillion IDR (2019). The Bank employed 12372 people (2019).
Bank Tabungan Negara
Bank Tabungan Negara is an Indonesian government-owned bank. It was founded in 1895 by the Dutch Indies colonial government; it was nationalized after independence in 1961. It provides loans to small and medium-sized businesses and other financial services while operating as a conventional bank by offering savings and checking accounts, time deposits, cash management services, and loans to individuals. BTN provides a wide array of products and services through its 820 branches and sub-branches, 4,428 micro-branches, and two business units, namely Multi Finance Division and Mortgage Finance Division. For the fiscal year ended 2021, the Bank had 49,940,545 net assets and 11,224 employees across the country.
Panin Bank is a private, majority-owned by foreign investors and publicly traded Bank in Indonesia. It was founded in 1971 as Bank Panin, headquartered in Jakarta. As of 2009, it had 13 branches in Indonesia. The total assets of the Bank were around 120 trillion Indonesian rupiahs at the end of March 2017, and it had a total of 11,351 employees across its branches.
The Company offers financial solutions through its three core businesses: Consumer Banking, SME Banking, and Corporate & Investment Banking. The Consumer Banking business provides retail products such as credit cards, deposits, loans, and investments through a network of branches.
Bank Permata is a private bank in Indonesia. The Bank provides personal and business banking services. The head office of Bank Permata is located at Raffles Tower, Kawasan Mega Kuningan, South Jakarta. It has a network of 304 branch offices and54 employees spread throughout Indonesia. It is one of Indonesia's largest commercial banking institutions by assets and number of branches. Bank Permata offers a broad range of commercial banking services, including consumer banking, corporate banking, transaction banking, and SME banking. In addition to the group's primary business activity, its subsidiaries also provide investment management, securities brokerage, and asset management services. As of 2020, the Bank had net assets of 197,726,097 million under its management.
A group of Chinese Indonesian businessmen founded the Bank under NV Nederlandsche Handel Maatschappij on November 18, 1946. It has 1,900 branches in 854 cities and towns across the Indonesian archipelago. The Company's subsidiaries include Danamon Bank, Bank Permata, Bank Artos, and Bank Mega. Its parent company is DBS Bank. Danamon provides a wide range of banking services to retail customers and small- to medium-sized companies. As for the year ended 2019, the Bank's total assets summed up to 193.5 trillion IDR.
Q.How are Indian banks classified?
A.Banks in India are classified into two broad categories viz., Scheduled and Non-scheduled banks. The scheduled banks are classified into commercial banks (public sector, private sector, and foreign) and co-operative banks (state co-operative banks, central co-operative banks, and urban co-operative banks).