Bank Central Asia named best Indonesian brand for the third year running
Kantar Millward Brown’s BrandZ has named Bank Central Asia as the most valuable Indonesian brand for the third year running, after the bank grew its value by 13% to US$10.5bn.
Bank Central Asia is the most valuable Indonesian brand for the third year running.
The bank, which turned 60 this year, has benefited greatly from building a reputation for always being accessible, with their motto being ‘Always at your side”.
Elspeth Cheung, global BrandZ valuation director, Kantar Millward Brown told The Drum that what separated BCA from the rest of the other banks on the list was also due to its size and its digital-first approach.
“It has more than 1,200 branches and 17,000 ATMs, and is also focused on digital innovations such as in-app and video banking,” said Cheung. “Its large network of branches enables it to be more connected with and relevant to consumers than its rivals.”
Five tobacco companies made up the top 10 list, the most of any other industries. A Mild, Dji Sam Soe, Surya remained in the same position as last year, while both Gudang Garam and Marlboro moved up a position.
When asked if there is a possibility for a tobacco company to take the top position from BCA, Cheung refused to rule anything out.
“It’s very hard to predict because the other top brands in our ranking are seeing very healthy growth in terms of increasing their meaningful difference, which drives brand value,” explained Cheung.
“It also depends on the outcome of the Indonesian government’s discussions on what they should do next with tobacco regulation, and how tobacco brands are allowed to communicate with the public.”
Meanwhile, outside of the top 10, fast-moving consumer goods (FMCG) were the fastest growing sector with 15 FMCG brands in the Top 50, with the likes of Indomie, Sarimi, Roma, Sunsilk and Pepsodent just some of the more familiar names.
Cheung predicted that FMCG will definitely crack the Top 10 list in the near future and tips Indomie to be the first brand to do so.
“I would guess this will be Indomie, which is currently no.14,” said Cheung.
“Our research shows it’s considered to be very trustworthy by consumers, and the trust it has built is allowing it to transcend borders and build its global footprint.
“According to Kantar Worldpanel it is already the third most chosen food brand in the world.”
The full list has been published and can be found here.