Indonesia 2019 - Banking

Twenty years on from a severe financial crisis the effects of which still define the industry, the banking sector in Indonesia is crowded but rich in opportunity. A diverse array of banks and non-bank financial institutions vie for existing customers and work to attract new ones, in what remains a lightly penetrated market. With the world’s fourth-largest population, Indonesia is seen as having great potential, and continues to attract foreign investment. Market strategies, however, are in a state of flux. A handful of major lenders, some of them state-owned, have built national branch networks and constitute formidable competition for any lender following a nationwide universal banking model. Lenders are increasingly looking at financial technologies, in particular those that reach consumers via their mobile phones, as a way to scale up without investing time and money building a physical presence. This chapter also contains interviews with Kartika Wirjoatmodjo, President Director and CEO, Bank Mandiri; Achmad Baiquni, President Director, Bank Negara Indonesia; and Batara Sianturi, CEO, Citi Indonesia, and Chairperson, International Banks Association of Indonesia.

Cover of The Report: Indonesia 2019

The Report

This chapter is from the Indonesia 2019 report. Explore other chapters from this report.

Interviews & Viewpoints

Sketch of
Batara Sianturi, CEO, Citi Indonesia; and Chairperson, International Banks Association of Indonesia: Interview

Covid-19 Economic Impact Assessments

Stay updated on how some of the world’s most promising markets are being affected by the Covid-19 pandemic, and what actions governments and private businesses are taking to mitigate challenges and ensure their long-term growth story continues.

Register now and also receive a complimentary 2-month licence to the OBG Research Terminal.

Register Here×

Product successfully added to shopping cart