The Indonesian banking sector has witnessed significant growth, evolving from its modest beginning to being the strongest pillar of growth. The biggest banks in Indonesia also contribute to the Southeast Asian economy. The journey of the Indonesian banking sector has been thriving, and this whole system showcases the nation’s economic tenacity and adaptability. The strong banking sector also fosters technological innovation and other development. Are you curious to know which are the biggest banks in Indonesia? This blog will unveil the top 10 biggest banks in terms of assets.
Biggest Banks Of Indonesia: Trust, Innovation And Growth
According to Statista reports, Bank Mandiri was the biggest bank in Indonesia in 2023, with 2003. 93 trillion rupiah of assets. Now’ discover other biggest banks in Indonesia.
1.Bank Mandiri
Established in 1998, Bank Mandiri ranks number one among the top 10 banks in Indonesia. Mandiri offers a wide range of products to businesses and individuals throughout the country to meet their financial demands. The company also serves international clients from its subsidiaries and branches with offices in London, Hong Kong, Singapore, and Malaysia.
Total Assets: 2006.93 rupiah trillion
2. Bank Rakyat Indonesia
Established in 1968, Bank Rakyat Indonesia ranks second among the top 10 biggest banks in Indonesia. Rakyat Bank focuses on banking services for micro, small, and medium enterprises. These banking services made the BRI a leading financial institution in Indonesia, dealing in various products, such as loans, e-banking, international business services and Islamic banking.
Total Assets: 1851.96 rupiah trillion
3. Bank Central Asia
Established in 1955, BCA is probably the oldest bank in Indonesia. Despite facing a financial crisis in the late 1990s, the bank has gained a leading position among the top 10 biggest banks in Indonesia. It provides commercial and personal banking services through its 1,000+ branches in the country.
Total Assets: 1381.44 rupiah trillion
4. Bank Negara Indonesia
Established in 1996, the Bank Negara Indonesia or BNI is the fourth-biggest bank in Indonesia. Bank Negara Indonesia provides financial services supported by its subsidiaries in BNI Syariah, financing (BNI Multi Financing), the capital Market (BNI Securities) and BNI life insurance. The government of Indonesia is the major shareholder, with almost 60.61% of the BNI.
Total Assets: 1oo9.3 rupiah trillion
5. Bank Tabungan Negara
Established in 1897, Bank Tabungan Negara is ranked fifth among the top 10 biggest banks in Indonesia. The bank is a leader in mortgage loans, setting it apart from other leading banks in Indonesia. At the time of its inception, the name of the bank was Postspaarbank. But later, its name was changed to Bank Tabungan Negara.
Total Assets: 409.67 rupiah trillion
6. Bank CIMB Niaga
Established in 1955, Bank CIMB Niaga is a popular bank in Indonesia. It is known for offering comprehensive financial services, including personal loans, business financing, and home mortgages. There is no doubt that Bank CIMB Niaga stands out among the other biggest banks in Indonesia as a pillar of strength in the country’s banking sector.
Total Assets: 329.13 rupiah trillion
7. Bank Syariah Indonesia
Established in 2021, Bank Syariah Indonesia is the merger of three Islamic banks- Bank Syariah Mandiri, BNI Syariah, and BRI Syariah. It offers a comprehensive range of services, including personal banking, corporate banking and digital banking solutions. Because of its tailored financial solutions, BSI is regarded as one of the biggest banks in Indonesia.
Total Assets: 319.84 rupiah trillion
8. Bank Premata
Established in 2002 through the merger of five banks under the supervision of Indonesian banks, Bank Premata has emerged as a prime player in the Indonesian banking sector. The bank offers a wide range of retail banking products and services, including savings and checking accounts, fixed deposits, credit cards, and personal loans. The retail banking division is designed to cater to individuals’ financial needs, providing customers with convenient and efficient banking solutions.
Total Assets: 251.9 rupiah trillion
9. Bank OCBC NISP
Established in 1941, Bank OCBC NISP is one of the oldest and biggest banks in Indonesia. It focuses on the small and medium enterprise segment. The bank offers affordable and customer-friendly services, making it a preferable banking choice. It also has been recognised with numerous awards for its excellent and satisfying services.
Total Assets: 245.99rupiah trillion
10. Bank Panin
Established in 1971, Bank Panin is the largest Indonesian financial institution offering banking, financing, insurance, and securities solutions. It leverages the latest technology to offer top-of-the-line services to customers, such as mobile banking and internationally accessible debit cards in collaboration with Mastercard and Maestro. It has three key subsidiaries: Clipan Finance Indonesia, Bank Panin Syariah, and Verena Multi Finances.
Total Assets: 211.41 rupiah trillion
These top 10 biggest banks in Indonesia have contributed significantly to the country’s economy, which is expected to surpass Russia’s by 2026. The major factors behind their immense growth are customer friendliness and their range of services. Some banks have made their presence globally due to their smooth and exceptional banking processes.
