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BRI again most valuable bank brand in Indonesia
BRI has been listed again as the most valuable bank brand in Indonesia in a study published by Brand Finance, Banking 500 – 2021.
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(Courtesy of BRI)
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RI has been listed again as the most valuable bank brand in Indonesia in a study published by Brand Finance, Banking 500 – 2021. In the study, the valuation of Bank BRI's brand was estimated to be US$3.09 billion with a Triple A (AAA) brand rating.
Bank BRI is ranked 89th of the 500 best banks in the world and is ranked as the most valuable bank brand in Indonesia.
The methodology used by Brand Finance to compile the brand valuation consisted of several stages. These stages included combining the results of the Brand Strength Index (BSI) assessment, the Brand Royalty Rate and the overall performance of Bank BRI.
The study also stated that due to the pandemic, the total brand value of the 500 best banks in the world had decreased by 4 percent in 2020, or equivalent to US$1.27 trillion.
BRI's success in gaining recognition from Brand Finance is inseparable from the success of the transformation carried out before the pandemic occurred. This allows BRI to quickly respond to the needs of its customers and maintain a positive performance during the pandemic.
BRI President Director Sunarso said the award was a reflection of the success of BRI's transformation since 2016. “Reflecting on the previous transformation and as a response to the current conditions, BRI has now carried out the 2.0 transformation. Through this program, we are optimistic that in the future, BRI will continue to provide positive value, both economic value and social value, for all stakeholders," said Sunarso.
Brand Finance is the world's leading brand valuation consultant that has implemented ISO 16088 and ISO 20671 standards and is a member of the Marketing Accountability Standards Board (MASB). MASB is an international organization that serves as a forum for marketers, media providers, associations and academics to improve and develop marketing standards and practices to encourage business growth.
BRI named best bank in Indonesia by The Asian Banker
The leading economic magazine in Asia, The Asian Banker, has again placed PT Bank Rakyat Indonesia (Persero) Tbk. or BRI in first place of The Best Retail Banks in Indonesia. As for the ranking in the Asian region, BRI occupies the 35th position, an increase from 36th position in 2020.
On its official website, The Asian Banker said the rating was an assessment of BRI's excellence and excellent retail financial services program. In addition, BRI's financial services are considered very good because they have undergone a rigorous and transparent audit process in accordance with standardized assessments for world-class banks.
The assessment takes place from January to March every year and is based on The Asian Banker's balanced scorecard methodology. The components of the assessment are financial performance, strategy and leadership, digital journey, brand, sales, customer experience, process and technology, risk management, human and organizational resources and other achievements.
Regarding the award, BRI President Director Sunarso said that his party had managed to maintain positive performance and continued to grow in the midst of the COVID-19 pandemic. In fact, according to him, with an increase of one rank in Asia, it proves that BRI can always provide excellent service in the midst of challenging conditions.
“Globally, the banking world is currently experiencing enormous challenges. However, BRI was still able to record a positive performance. This award will be more motivation for us to always improve and provide the best service, especially for MSME players," he said.
