Company:Bank RakyatIndonesiaPerseroTbkPT Brand value:US$7,846 million Year on year change: -5% Headquarter city:Jakarta Industry:Banks Year formed:1895
BRI is Indonesia’s oldest commercial bank, and celebrated 120 years in business last year. The bank focuses on providing credit to small and medium enterprises, particularly in some of the country’s most remote areas. BRI has the widest branch network of any bank in Indonesia, with 10,000 outlets, and works under the slogan “Melayani dengan Setulus Hati” – Service from the Heart. Its proposition is built around its desire to be the “People’s Bank of Indonesia” and, by focusing on small and medium businesses, it positions itself as helping build the economy of the people. It was named Best Bank in Indonesia Global Finance in 2016, Indonesian Bank of the Year in 2015 by The Banker, and Asiamoney’s Best Domestic Bank in Indonesia in 2015.
Recent innovations include launching a floating banking service for remote islanders, and the launch of BRILink, a service that helps reach the country’s unbanked by working with trusted customers who become the bank’s agents and who can provide limited banking services on their behalf. The bank has also launched a co-branded credit card with Korea’s Bank KEB Hana, and an online service in cooperation with the national police called SIM Online, which allows for paperless processing of driving licenses. The bank is due to launch its first satellite, BRIsat, in mid-2016, the first in the world dedicated to a financial institution, in a move it expects will improve the efficiency and reliability of its systems and extend services to remote areas.
BRI held a charity fun walk to mark its 120th anniversary in 2015, and seasonal promotions included funding 6,000 customers’ homecoming trips, or mudik, during the holiday period of Eid al-Fitr. The bank is 57 percent state owned, with the remaining 43 percent traded publicly since 2003. It has overseas units in New York, the Cayman Islands and Hong Kong, and in the past year opened their first branch in Singapore.