Indonesia

Bank Rakyat has been playing a significant role in the area of ESG in Indonesia, using its reach and credentials to help the natural resources and coal-reliant country adopt better practices.

Small and medium-sized enterprises are often described as Indonesia’s growth engines. But they also took one of the biggest beatings during the pandemic as lockdowns and disruptions in supply chains impacted their operations.

Bank Rakyat has been playing a significant role in the area of ESG in Indonesia, using its reach and credentials to help the natural resources and coal-reliant country adopt better practices.

UOB Indonesia’s initiatives concerning art take its corporate social responsibility agenda to a whole new level.

Deutsche Bank is as good as a local lender given it has been in Indonesia for more than 50 years. Its commitment to the southeast Asian nation is reflected in its strong presence with more than 300 employees working across its key business pillars – foreign exchange and bond trading, investment banking, custody services, trade finance and cash management.

Credit Suisse has had to put out numerous fires in the past couple of years as its global business came under pressure on different fronts. In Indonesia, however, it held its ground, making it Asiamoney’s best investment bank in the country for 2022.

The last two years have taught Indonesian lenders one hard but important lesson – customers need banking, but they don’t necessarily need banks.

Bank Syariah Indonesia, formed last year by the merger of three state-owned Islamic banks, has rapidly proved its worth in the market.