Brand Finance’s latest data points to top Indonesian brands accounting for 17% or $53.2 billion in value, powered by a strong consumer economy
JAKARTA, 15th October 2025 – Two of Indonesia’s leading banking brands, BRI (brand value up 36% to USD7.3 billion) and Bank Mandiri (brand value up 52% to USD5.6 billion), are among the region’s top 10 brands of 2025, according to the latest ASEAN 500 2025 report by Brand Finance, the world’s leading brand valuation consultancy.
Regionally, BRI ranks fifth this year, climbing up two places from seventh in 2024. Between 2022 and 2025, BRI’s brand value has steadily grown, driven by its deep-rooted focus on financial inclusion, sustained support for Indonesia’s Micro, Small, and Medium Enterprises (MSME) sector, and continued investments in digital transformation.
Bank Mandiri moved up two positions to become the ninth most valuable brand in ASEAN in 2025. Its growth reflects more than just strong numbers as the bank is increasingly perceived as delivering strong financial results whilst remaining relevant to customers. Strong profits, rapid growth in corporate and wholesale lending, and ongoing digital expansions have strengthened its reputation as a reliable and forward-looking institution within Indonesia. Its broad national reach continues to help build trust, particularly among businesses and middle-market clients.
Another leading banking brand in Indonesia, BCA (brand value up 42% to USD4.4 billion), slipped one spot from 2024 to rank as the second strongest brand in ASEAN. With a Brand Strength Index (BSI) score of 97.1/100 and an AAA+ brand strength rating, BCA is notably the strongest banking brand globally according to the Banking 500 2025 journal.
Brand Finance’s market research highlights BCA’s continued success as driven by its strong public perception, widespread trust, and consistent delivery of high-quality customer experiences in its home market.
The second most valuable food brand in the region, Indomie (brand value at USD1.3 billion), reflects its growing global influence and solid financial outlook. A revised positive revenue forecast for 2025, supported by its popularity across Asia, Africa, and the Middle East, has strengthened its valuation and positioned it as a rising force in the global food sector.
In the energy sector, Pertamina (brand value down 15% to USD3.8 billion) retained its position as the region’s third most valuable oil & gas brand. Despite softer energy demands and market headwinds, Pertamina’s continued scale demonstrates the balancing act dominant players face in navigating shifting conditions and stakeholder expectations.
Alex Haigh, Managing Director of Brand Finance Asia Pacific, commented:
“Indonesia’s leading brands are demonstrating how scale, innovation, and consumer trust can translate into regional leadership. With BRI and Bank Mandiri breaking into ASEAN’s top 10, BCA recognised as the world’s strongest banking brand, and Indomie cementing its global influence, Indonesia is proving the strength of its consumer-driven economy. These brands are not just leaders at home but are increasingly shaping the competitive landscape across ASEAN and beyond.”
The ASEAN 500 rankings for 2025 showcase the remarkable brand value growth across Southeast Asia, underscoring a dynamic period of economic transformation, digital innovation, and regional integration. The total brand value of ASEAN stands at USD306.6 billion, reflecting the scale of this collective growth with top Indonesian brands accounting for USD53.2 billion (17%) in value.
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 evaluating marketing investment, stakeholder equity, and business performance, 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.
Brand Finance has produced this study with an independent and unbiased analysis. The values derived and opinions presented in this study are based on publicly available information and certain assumptions that Brand Finance used where such data was deficient or unclear. Brand Finance accepts no responsibility and will not be liable in the event that the publicly available information relied upon is subsequently found to be inaccurate. The opinions and financial analysis expressed in the study are not to be construed as providing investment or business advice. Brand Finance does not intend the study to be relied upon for any reason and excludes all liability to any body, government, or organisation.
The data presented in this study form part of Brand Finance's proprietary database, are provided for the benefit of the media, and are not to be used in part or in full for any commercial or technical purpose without written permission from Brand Finance.
