Indonesia’s banks have seen a strong year in this year’s Top 1000 World Banks, as increases in Tier 1 capital helped them to climb up the ranking. The country has emerged from the initial impact of the Covid-19 pandemic in good shape, with the economy growing by 3.7% during 2021. The forecast looks even better for 2022, with the World Bank forecasting a 5.1% growth rate.
Indonesia has 25 banks in the country ranking this year, but because of the high number of foreign-owned subsidiaries in the country, only 10 make it into the main Top 1000 ranking, with five of them being in the top 500. There is little movement in the overall country ranking, with 17 maintaining the same places as in the 2021 results. There is, however, more movement within the Top 1000 ranking.
