Indonesia
LATEST ARTICLES
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The 34th annual Asiamoney Brokers Poll is a Vox Populi poll that identifies the leading brokerages for equities research, sales and trading in Asia. Voters are institutional investors who represent fund management firms, wealth managers, hedge funds, pension funds, and insurance companies that trade in Asia.
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Indonesia was recently re-ranked by the World Bank as an upper middle-income country, even though as many as 100 million Indonesians remain unbanked. Andi Taufan Garuda Putra tells Asiamoney how his Amartha microlending platform is bringing them into the financial system.
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Indo Premier Sekuritas
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Issuance has barely stopped in Indonesia’s IPO market this year. Global investors have bought into the resource-led story with glee – and there are plenty of deals in the pipeline.
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Indonesia is one of the world’s brighter prospects right now: growth, demographics, infrastructure momentum, inflation under control, more equity raised in the first quarter in Jakarta than New York. Banks are positioning to benefit – while keeping an eye on next year’s elections.
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The 33rd annual Asiamoney Brokers Poll is a Vox Populi poll that identifies the leading brokerages for equities research, sales and trading in Asia. Voters are institutional investors who represent fund management firms, wealth managers, hedge funds, pension funds, and insurance companies that trade in Asia.
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HSBC had its share of headwinds in the past year. Covid variants hit Indonesia’s economy and businesses, but the bank emerged stronger than ever and was the clear winner of the award for best international bank in Indonesia for 2022.
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The last two years have taught Indonesian lenders one hard but important lesson – customers need banking, but they don’t necessarily need banks.
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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.
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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.
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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.
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UOB Indonesia’s initiatives concerning art take its corporate social responsibility agenda to a whole new level.
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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.
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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.
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The last two years have taught Indonesian lenders one hard but important lesson – customers need banking, but they don’t necessarily need banks.
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Bank Syariah Indonesia, formed last year by the merger of three state-owned Islamic banks, has rapidly proved its worth in the market.
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Banks and bond investors are waking up to the difficulty of recovering their money from Indonesian companies that have been hit by the pandemic. Here’s what creditors need to know.
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Fresh from the success of listing Allo Bank in Jakarta, Indonesian billionaire Chairul Tanjung speaks to Asiamoney about his vision for the digital lender, and how to keep an eye out for the next big thing.
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Indonesia is spawning new startups by the day, many of which are propelling financial inclusion. Asiamoney speaks to the founders of some thriving platforms that bring together technology and finance to make a difference.
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To traditional bankers, Jakarta’s gaming salons might seem unlikely places to launch a hot fintech startup. But for veteran gamer Vincent Iswaratioso, battling virtual bad guys in World of Warcraft has proved the perfect training ground for his universal Dana e-wallet.
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The 32nd annual Asiamoney Brokers Poll is a Vox Populi poll that identifies the leading brokerages for equities research, sales and trading in Asia. Voters are institutional investors who represent fund management firms, wealth managers, hedge funds, pension funds, and insurance companies that trade in Asia.
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Indonesia’s ambitions of being Asia’s Islamic finance hub have long been hobbled by lack of infrastructure and support. But can a recent change in government attitude spur the industry?
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Asiamoney’s debut award for best Islamic bank goes to Bank Syariah Indonesia (BSI), a firm that was only formed in February 2021 by the merger of state-owned Islamic banks BNI Syariah, Bank Syariah Mandiri and BRI Syariah.
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Micro, small and medium-sized enterprises around the world have been among those worst affected by the pandemic. While governments have rolled out support for these businesses, banks have also had to do their part by adapting their policies and practices to accommodate the rapidly changing financials and behaviour of SMEs. In Indonesia, none did better than Bank Rakyat Indonesia.
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When it comes to international banks in Indonesia, Citi is the one to beat.
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Mandiri Sekuritas, a subsidiary of Bank Mandiri, is unusual among Indonesia’s corporate and investment banks because it has both domestic and overseas operations. This is essential for the long-term growth of a bank – and for survival during difficult times.
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The competition for the award for best bank for CSR was fierce this year, as nearly every bank in Indonesia proved its dedication to its communities, customers and employees during the pandemic. All of them should be lauded for their efforts, but Bank Negara Indonesia (BNI) is the winner.
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The lockdowns of 2020 and 2021 showed how important it was for banks to have up-to-date technology and easily accessible digital banking services to survive.
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During the last Asiamoney awards period, Indonesia's banks were just beginning to tackle the economic consequences of the Covid-19 pandemic. But the latest awards period was even tougher, as it encompassed a full 12 months of the health crisis.
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For proof of the power of female role models, look at Indonesia: the country is confounding stereotypes and narrowing the gender gap.
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Luhut Binsar Pandjaitan is one of the most powerful men in Indonesia, leveraging his successes in the military and business to become the president’s key fixer. Will that influence be parleyed into the presidency in 2024?
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The 31st annual Asiamoney Brokers Poll invited chief investment officers, fund managers and investment analysts to take part. Voters represented fund management houses, hedge fund & private equity firms, insurance companies and wealth management houses in Asia, Europe and North America.
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Bank Mandiri’s chairman and chief executive tell Asiamoney how Indonesia and their bank will weather the coronavirus pandemic.
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Perry Warjiyo, Indonesia’s central bank governor, may not be the country’s leader, but with Covid-19 ravaging the economy, the population of 273 million have more riding on him than on the president.
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Erick Thohir once owned the Italian football team InterMilan. Now Indonesia’s president Joko Widodo has handed him one of the country’s toughest jobs: reforming creaking state-owned enterprises. If he succeeds, he could even get a shot at the presidency.
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Anyone planning to stress test southeast Asia’s biggest economy could do worse than look at where Bank Central Asia finds itself today compared with 1997.
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Mandiri Sekuritas, under the watch of president director Dannif Danusaputro, maintained its leadership in bond issuance in 2019, controlling nearly 17% of the market with a share worth $1.3 billion. It also brought nine Indonesian deals to the offshore market, worth a combined $2.3 billion.
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Since 1968, Citi has pushed into an ever-expanding mix of sectors in Indonesia. It has gone further than its peers in commercial, consumer and corporate and investment banking. The ambition with which chief executive Batara Sianturi is branching out – and the way Citi is making a lucrative go of it – warrants this year’s best international bank honours.
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In a more perfect world, the digital bank award would go to a purely local institution. Normally, we might shy away from honouring a name that is 94.1% owned by Japanese firm Mitsubishi UFJ Financial Group. But Bank Danamon’s strides, particularly in the coronavirus era, are hard to ignore.
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Indonesia’s oldest bank has found itself on the frontlines of the nation’s newest risks. The coronavirus fallout is certainly the immediate danger, but the longer-term hurdle for the economy is making sure that small and medium-sized enterprises – those drivers of economic growth – are not crowded out of the financial system in the wake of the pandemic.
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Indonesia’s oldest bank has found itself on the frontlines of the nation’s newest risks. The coronavirus fallout is certainly the immediate danger, but the longer-term hurdle for the economy is making sure that small and medium-sized enterprises – those drivers of economic growth – are not crowded out of the financial system in the wake of the pandemic.
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It has been a pattern in Indonesia for the best part of 15 years: whenever southeast Asia’s largest economy is engulfed in crisis, it turns to Indonesia's minister of finance – but she has never faced a challenge like this.
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President Joko Widodo is planning southeast Asia’s biggest infrastructure project in building his new capital city in remote Kalimantan; it promises to be a party for bankers – but first they will have to negotiate some quirky local characters.
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The 30th annual Asiamoney Brokers Poll invited chief investment officers, fund managers and investment analysts to take part. Voters represented fund management houses, insurance companies, pension funds, sovereign wealth funds, hedge funds and wealth managers from around the world.
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Can Indonesia’s likeable president find a way to boost growth, slash red tape, tackle the country’s image problem and draw in much-needed FDI now that he has secured a second five-year term?
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In its 20-year history, Bank Mandiri has transformed itself into Indonesia's best government-owned lender ‒ the domestic trailblazer is one to watch in the region.
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Bank Central Asia, now one of Asia’s most admired lenders, is certainly one to keep an eye on in Indonesia, as it reaps the benefits of collaborating, not competing, with fintech firms.
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Last year, it was one of eight banks involved in setting up the Indonesian sustainable finance initiative under the Financial Services Authority. As chair of the initiative, BRI promotes strategic programmes, builds partnerships and initiates projects to establish a green business model.
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When a bank says that 70% of the billionaires on the Forbes Indonesia list are customers, you know its services are top notch. That’s the kind of reputation Credit Suisse, winner of best private bank 2019, has with its clients.
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In the last year, Bank Central Asia has given its digital ambitions a new lease of life, making it Asiamoney’s best digital bank in Indonesia in 2019. The bank has positioned itself for growth by adopting more digital technology in its operations, particularly in transaction banking.
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Citi’s operation in Indonesia is envied by both domestic banks and other international lenders alike. And for good reason. The US firm is one of the few international banks in the southeast Asian country to cover corporate and investment, commercial and consumer banking.
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In terms of both quality and quantity, Mandiri Sekuritas’ corporate and investment banking business impresses. During the Asiamoney awards period, the securities house – which is a subsidiary of Bank Mandiri – ranked third for investment banking revenue in Indonesia, earning $11 million for a 5.5% market share, behind Standard Chartered in first and BNP Paribas in second place, according to Dealogic data.
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Its popularity is revealed in its financials. In 2018, total income from SME banking in Indonesia rose 12%, while loan balances increased 20% to Rp18.8 trillion ($1.3 billion) from Rp15.7 trillion in 2017. Deposit balance jumped 32% while the current account balance grew 11%.
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Bank Central Asia, led by president director Jahja Setiaatmadja, has an enviable reputation in Indonesia. The publicly listed bank boasts strong financials and fundamentals that reflect consistency and stability – winning traits for the best domestic bank in the country.
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Expanded rankings and additional categories, including other comparative and bespoke data, are available for purchase. Please contact Mee Ling Lee at meeling.lee@euromoneyasia.com for our data packages.
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The 29th annual Asiamoney Brokers Poll invited chief investment officers, fund managers and investment analysts to take part. Voters represented fund management houses, insurance companies, pension funds, sovereign wealth funds, hedge funds and wealth managers from around the world. A total of 6,540 valid individual responses from 3,100 different institutions, including 411 hedge funds, were received.
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P2P lender Modalku is set on building a business based on financial inclusion – one that benefits not just its customers, but the country’s traditional banks as well.
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Asian companies are facing a difficult balancing act between pursuing growth and doing good – those that get it right will please analysts and investors.
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The southeast Asian country was brought to its knees 20 years ago because of the failure of its biggest banks. A generation on, the same clans are back in banking and the regulator says he isn’t fussed.
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A state-owned enterprise, and one of Indonesia’s oldest banks, Bank Rakyat Indonesia (or People’s Bank of Indonesia) is setting a new standard for corporate social responsibility in the country with its partnership and community development programme under chief executive Suprajarto Suprajarto, particularly for its public sector.
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Fun fact: the NISP in the name of one of Indonesia’s oldest banks, OCBC NISP, is a rare holdover from the bank’s beginnings at a time when Indonesia was a Dutch colony. The name Nederlandsch Indische Spaar en Deposito Bank, or Dutch (East) Indies Savings and Deposit Bank, might be a window into history, but as booming Indonesia marks its 73rd year of independence this year, it is with another acronym – SME – that this venerable Singapore-owned bank is making a modern impact.
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During 2017 and 2018, Bank Danamon transformed what had merely been a common or garden mobile banking app into a new digital banking channel, as its D-Mobile morphed into D-Bank.