Together, leading Indonesian banking, tobacco and telecoms brands, among others, lead the list of the country’s most valuable brands in 2024, according to a new report by Brand Finance, the world’s leading brand valuation consultancy.
The nation’s banking brands experienced substantial growth in 2024, with the combined value of the 17 brands ranked in the sector increasing by 14% to USD16.8 billion. Collectively, this accounts for 34% of the overall industries ranked in Brand Finance’s Indonesia 100 2024 report by value.
Holding on to the top position from last year, BRI (brand value up 26% to USD5.4 billion) remains the most valuable Indonesian brand in our rankings for 2024. In second placement, rising by one rank from 2023 is Pertamina (brand value up 21% to USD4.5 billion) and coming up at the third spot, similarly having climbed one rank up, is Bank Mandiri (brand value up 9% to USD3.7 billion).
Reaffirming its status as Indonesia’s strongest brand ranked for the sixth consecutive year is BCA (brand value up 8% to USD3.1 billion) with a brand strength rating of AAA+ and a Brand Strength Index (BSI) score of 93.8 of 100. Bank Mandiri - which recorded a four-spot advancement from 2023 – is placed as the country’s second strongest brand ranked this year and BRI (brand value up 26% to $5.4 billion) takes the third rank.
Siloam Hospital (brand value up 52% to USD70 million) recorded the largest brand value growth among the most valuable Indonesian brands ranked in 2024 while mobility brand, Blue Bird (brand value up 31% to USD118 million) follows as the second brand with largest brand value growth by percentage and engineering brand Indah Kiat Pulp & Paper (brand value up 31% to USD480 million) holds the third rank.
On the overall, leading Indonesian banking, telecoms and tobacco brands in our rankings by brand value this year are BRI (brand value USD5.4 billion), Telkom Indonesia (USD3.5 billion) and Sampoerna (USD2.7 billion).
Alex Haigh, Managing Director – Asia Pacific of Brand Finance, commented:
"Banking, tobacco, and telecoms brands stand tall in Indonesia, commanding a significant share of our brand value rankings.
“The remarkable dominance shown by leading brands such as BRI, Telkom Indonesia and Sampoerna, collectively stem from factors such as robust economic growth, extensive infrastructure investments, innovative digital transformation, and deep-rooted consumer trust. These elements underscore the critical roles these industries play in shaping Indonesia's economic landscape at large."
The 2024 Sustainability Perceptions Index finds that among Indonesian brands, Pertamina has the highest Sustainability Perceptions Value of USD377 million. It also has the highest positive gap value of USD41 million among brands in the rankings. A positive gap value means that brand sustainability performance is stronger than perceived: brands can add value through enhanced communication about their sustainability efforts, so that perceptions are raised to fully account for the brand’s actual sustainability performance. Pertamina’s gap value suggests that it could generate an additional USD41 million in potential value through enhanced communication of its impact and accomplishments in sustainability.