Brand Finance’s Banking 500 2026 journal reveals that the Indonesian banking sector is worth $19.2 billion
JAKARTA, 5 March 2026 – BCA (brand value down 6% to USD4.2 billion) maintains its position as the strongest banking brand globally with a Brand Strength Index (BSI) score of 95.9/100 despite facing economic headwinds, according to the Banking 500 2026 journal by Brand Finance, the world's leading brand valuation consultancy. The bank also retained its AAA+ brand strength rating, the highest accolade for brand strength awarded by Brand Finance.
Indonesia’s banking sector experienced a 6% decline in its collective brand value from USD20.5 billion in 2025, to USD19.2 billion this year. The notable downtrend is primarily driven by a more challenging macroeconomic environment, with the Indonesian rupiah weakening against the US dollar amid higher global interest rates, capital outflows, and a cautious investor sentiment. For Indonesian banking brands overall, this does not indicate weaker operational performance. Rather, it reflects a softer currency backdrop that may temper investor confidence and earnings expectations.
BRI (brand value down 5% to USD6.9 billion) takes the 64th rank globally with its retail banking revenue growing amid stronger demand for housing and consumer loans, while capital market activities also recorded significant revenue growth.
Bank Mandiri (brand value down 6% to USD5.2 billion) ranks 82nd this year among the world’s 500 most valuable banking brands. Despite a dip in its brand value, the bank recorded revenue growth in the commercial sector, leveraging the Kopra platform to streamline transactions and support higher loan disbursement.
Bank Syariah Indonesia (brand value up 3% to USD642 million) remains the only Indonesian bank in this year’s global ranking to post a positive brand value growth. This performance is due to an increase in revenue fromconsumer and retail financing, which includes the home and multipurpose finance segments. The bank has also focused on branch network expansion, and the strengthening of its Islamic banking eco system, supporting its overall momentum.
Alex Haigh, Managing Director Asia Pacific, Brand Finance, commented:
“Indonesian banks are navigating a challenging economic environment, with slower credit growth and moderate market conditions impacting the sector. Despite this, the focus on strengthening core services and maintaining financial stability has helped banks manage these pressures. BCA is a good example of this, maintaining its brand strength rating through ongoing improvements to its core offerings, supporting customer retention while attracting new clients. Bank Syariah Indonesia, meanwhile, stands out as the only Indonesian bank to record brand value growth, supported by stronger consumer and retail financing and continued expansion of its Islamic banking ecosystem.”
Other Indonesian banking brands featured in the Banking 500 2026 include:
Banking Industry Global Insights
Brand Finance is the world’s leading brand valuation consultancy. Bridging the gap between marketing and finance, Brand Finance evaluates the strength of brands and quantifies their financial value to help organisations make strategic decisions.
Headquartered in London, Brand Finance operates in over 25 countries. Every year, Brand Finance conducts more than 6,000 brand valuations, supported by original market research, and publishes over 100 reports which rank brands across all sectors and countries.
Brand Finance also operates the Global Brand Equity Monitor, conducting original market research annually on 6,000 brands, surveying more than 175,000 respondents across 41 countries and 31 industry sectors. By combining perceptual data from the Global Brand Equity Monitor with data from its valuation database — the largest brand value database in the world — Brand Finance equips ambitious brand leaders with the data, analytics, and the strategic guidance they need to enhance brand and business value.
In addition to calculating brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics, compliant with ISO 20671.
Brand Finance is a regulated accountancy firm and a committed leader in the standardisation of the brand valuation industry. Brand Finance was the first to be certified by independent auditors as compliant with both ISO 10668 and ISO 20671 and has received the official endorsement of the Marketing Accountability Standards Board (MASB) in the United States.
Brand is defined as a marketing-related intangible asset including, but not limited to, names, terms, signs, symbols, logos, and designs, intended to identify goods, services, or entities, creating distinctive images and associations in the minds of stakeholders, thereby generating economic benefits.
Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitors. Brand Finance evaluates brand strength in a process compliant with ISO 20671, looking at Marketing Investment, Stakeholder Equity, and the impact of those on Business Performance. The data used is derived from Brand Finance’s proprietary market research programme and from publicly available sources.
Each brand is assigned a Brand Strength Index (BSI) score out of 100, which feeds into the brand value calculation. Based on the score, each brand is assigned a corresponding Brand Rating up to AAA+ in a format similar to a credit rating.
Brand Finance calculates the values of brands in its rankings using the Royalty Relief approach – a brand valuation method compliant with the industry standards set in ISO 10668. It involves estimating the likely future revenues that are attributable to a brand by calculating a royalty rate that would be charged for its use, to arrive at a ‘brand value’ understood as a net economic benefit that a brand owner would achieve by licensing the brand in the open market.
The steps in this process are as follows:
1 Calculate brand strength using a balanced scorecard of metrics assessing Marketing Investment, Stakeholder Equity, and Business Performance. Brand strength is expressed as a Brand Strength Index (BSI) score on a scale of 0 to 100.
2 Determine royalty range for each industry, reflecting the importance of brand to purchasing decisions. In luxury, the maximum percentage is high, while in extractive industry, where goods are often commoditised, it is lower. This is done by reviewing comparable licensing agreements sourced from Brand Finance’s extensive database.
3 Calculate royalty rate. The BSI score is applied to the royalty range to arrive at a royalty rate. For example, if the royalty range in a sector is 0-5% and a brand has a BSI score of 80 out of 100, then an appropriate royalty rate for the use of this brand in the given sector will be 4%.
4 Determine brand-specific revenues by estimating a proportion of parent company revenues attributable to a brand.
5 Determine forecast revenues using a function of historic revenues, equity analyst forecasts, and economic growth rates.
6 Apply the royalty rate to the forecast revenues to derive brand revenues.
7 Discount post-tax brand revenues to a net present value which equals the brand value.
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