Company: Bank Mega Tbk PT
Brand value: US$157 million
Headquarter city: Jakarta
Year formed: 1969
Credit card giant offers exclusive shopping deals with retail partners
Bank Mega’s business comprises consumer, commercial and corporate banking, but is best known by the public as a credit card provider. It is the biggest issuer of Visa cards in Indonesia, and has issued a total of 2 million credit cards. It appeals to consumers with promotions for card holders – some ongoing and some one-off special events. In June, the bank’s card holders were able to buy products at a Nike Warehouse Sale at discounts of up to 80 percent. Regular promotions include discounts and rewards at restaurants, fashion stores, department stores, and deals on travel and entertainment. Bank Mega’s communications focus on the brand becoming “the pride of the nation” under the slogan “Untuk Indonesia yang Lebih Baik”, which means “For a better Indonesia”.
The bank’s origins were in Bank Karman, which launched in Surabaya in 1969; it rebranded as Mega Bank in 1992, and moved its headquarters to Jakarta, and since 2000 has been known as Bank Mega. It was one of the few banks able to survive the economic crisis of the 1990s without government assistance. The company is listed on the Indonesia Stock Exchange. The majority stakeholder is CT Corpora, run by former government minister Chairul Tanjung, whose other businesses span media, entertainment and natural resources.