Bank Rakyat Indonesia (BRI) maintained its leading position in the asset ranking. Its assets grew 3.1 percent year-on-year (y/y) to IDR 1.097.4 trillion (approx. USD $76.2 billion) in the second quarter of the year. However, it did see the gap with its biggest rival narrowing as Bank Mandiri's assets grew 6.1 percent (y/y) to IDR 1,003.5 trillion (approx. USD $69.7 billion) over the same period.

BRI President Director Suprajarto said his bank targets to see a 11-12 percent annual growth in assets up to 2022. Strategies to encourage asset growth include the boosting of microcredit by 40 percent, while reducing corporate credit by a maximum of 20 percent.

Meanwhile, Bank Mandiri, which saw its assets climb above the IDR 1,000 trillion level for the first time in its history, expects assets to grow 7-8 percent in full-year 2018 on the back of profit and credit growth.

Indonesia's top ten of largest banks was little changed at the end of the second quarter of 2018. The only change was that Bank Danamon managed to overtake Bank OCBC NISP and now ranks seventh. Yesterday (31/07), Indonesia's Financial Services Authority (OJK) announced that it had approved Japanese lender Mitsubishi UFJ Financial Group (MUFG)'s plan to purchase a 20.1 percent stake from Bank Danamon shareholder Asia Financial. This transaction would raise MUFG's total stake in Bank Danamon to 40 percent. The Japanese lender said it seeks to complete the purchase of those shares "as soon as possible." 

Top Ten Indonesian Banks in Terms of Assets (Q2-2018):

Bank    Assets
(IDR trillion)
Bank Rakyat Indonesia    1,097.4   3.06%
Bank Mandiri    1,003.5   6.11%
Bank Central Asia      776.6   4.23%
Bank Negara Indonesia      684.2   5.48%
Bank Tabungan Negara      268.0   3.59%
Bank Panin      189.5  -4.27%
Bank Danamon      182.4  18.61%
Bank OCBC NISP      170.3   5.41%
Bank Maybank Indonesia      159.0  -1.16%
Bank Tabungan Pensiunan Nasional       90.4   3.88%

Source: Kontan