4 Heritage bank invests in digital services
Company: Bank Rakyat Indonesia Persero Tbk PT
Brand value: US$8,021 million
Headquarter city: Jakarta
Year on year change: 2%
Year formed: 1895
BRI is Indonesia’s oldest commercial bank, and focuses on providing credit to small and medium enterprises, particularly in some of the country’s most remote areas. In 2016, despite the economic slowdown, the bank added one million new customers. BRI has the widest branch network of any bank in Indonesia, with 10,628 outlets, and has for several years used the tagline “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 has recently launched a “floating bank” for some of the country’s most isolated citizens, has created services specifically for students, and this year provided help to people caught up in the landslide in Ponorogo. The bank has been at the forefront of promoting digital banking options, and in 2016 launched its own satellite, BRIsat, to drive digital services. In the past year, the bank has organized competitions, a fun run and taken part in talk shows to promote the ease of using “smart” digital banking and e-commerce. Other new products include a foreign exchange account. The bank is 57 per cent state owned, with the remaining 43 per cent traded publicly since 2003. It has overseas units in New York, the Cayman Islands and Hong Kong, and has a branch in Singapore.