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23 February 2021 (closed)
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According to Millward Brown, the British multinational market research firm, Bank Central Asia (BCA) maintained on top of the ranking in terms of most valuable brands in Indonesia. BCA is one of Indonesia's leading banks and one of the country's largest companies in terms of market capitalization on the Indonesia Stock Exchange. It is the third consecutive year BCA tops the ranking.
Each year Millward Brown releases the "BrandZ Top 50 Most Valuable Indonesian Brands". The ranking - based on brand value - is determined by combining a company's financial value created by a brand and brand contribution. Bank Central Asia (BCA) managed to grow its value by 13 percent to USD $10.5 billion over the past 12 months, from USD $9.4 billion in the 2016 edition.
Indonesians tend to opt for BCA when needing banking services because the company successfully built a reputation for being accessible. For example, its ATM cash machines are available throughout a large part of Indonesia, while its competitors have a more limited scope. BCA also has a strong reputation for differentiation and innovation within Indonesia's banking sector.
On second position comes mobile phone network operator Telkomsel, unit of Indonesia's leading telecommunication network provider and operator Telekomunikasi Indonesia (Telkom). Telkomsel jumped two places, growing 27 percent to USD $8.6 billion. The company is growing strongly on Indonesia's rapid adoption of mobile technology, reflected by rapidly rising Internet and smartphone penetration.
A quick look at the table below shows the most valuable brands in Indonesia are dominated by brands related to the banking, tobacco and telecom sectors. While there is still room for growth in Indonesia's banking and telecommunication sectors, analysts have become rather pessimistic about growth of Indonesia's tobacco industry as the government has implemented various regulations and taken steps that are negative for this industry (for example limitations to tobacco advertisement as well as higher excise taxes and VAT)
Top 10 Most Valuable Brands in Indonesia:
|Bank Central Asia (BCA)||10.5||+13%||Banking|
|Bank Rakyat Indonesia (BRI)||8.0||+2%||Banking|
|Dji Sam Soe||2.4||+7%||Tobacco|
|Bank Negara Indonesia (BNI)||1.8||+18%||Banking|
Source: BrandZ Top 50 Most Valuable Indonesian Brands 2017