October 2026
Largest Commercial Banking Public Companies in Indonesia
Benchmark revenue and EBITDA valuation multiples for public comps like
Bank Central Asia, Bank Rakyat Indonesia, Bank Mandiri, Bank Negara Indonesia and Bank Permata.
 | PT Bank Central Asia Tbk is an Indonesia-based banking service provider operating as a Sharia bank. The bank provides various financial solutions to its customers through its inter-branch links, ATM network, and electronic banking services. It offers loans, deposit accounts, mutual fund investments, fixed income products, and credit facilities, among other banking products and services. Its segments are Loans, which derives maximum revenue, Treasury, and Others. The customer base mainly includes individuals, small and medium businesses, and corporations. Its business segment is classified into five geographic areas, which are Sumatera, Java, Kalimantan, East Indonesia, and overseas operations. | $0 | -44% | $35B | $35B | 5.6x | - | ||
| PT Bank Rakyat Indonesia (Persero) Tbk operates in the banking sector. It provides and tailors banking services to micro, small, and medium enterprises. Its segments are Micro, Retail, Corporate, Others, and Subsidiaries. The company emphasizes integrating financial technology into its various platforms to create ease of access for its customer base. Its core business services include collecting customer deposits, loan disbursement, issuing promissory notes and loan agreements, and collateralizing assets. Its loan products include working capital loans for corporate and commercial customers, as well as mortgages for consumer customers. | $0 | -39% | $22B | $22B | 2.1x | - | ||
| PT Bank Mandiri (Persero) Tbk is a full-service bank principally operating in the Indonesian archipelago. The national government of Indonesia owns well over half of the bank's outstanding shares. Its various products and services includes deposit collection, loans, promissory note issuance, guarantee services, wholesale banking, custodian banking, asset and wealth management, factoring and credit card services, and Islamic banking. The bank emphasizes a cross-selling culture and increased regionalization, expertise-oriented solutions, and ease of access for its micro, small, and midsize enterprise customers. Its loan portfolio is diversified, mostly in industrials, restaurants and hospitality, and the transportation and storage industries. | $0 | -34% | $18B | $18B | 2.2x | - | ||
| PT Bank Negara Indonesia (Persero) Tbk is an Indonesian state-owned bank, with the government holding just over half of the bank's outstanding shares. Its main banking activities include deposit-taking, providing credit, issuing debt instruments, money transfer services, secondary market services, wholesale banking, custody banking, capital investment, and other services. Its segments include Wholesale & International Banking, Institutional Banking, Enterprises & Commercial Banking, Retail Banking and Treasury. The company generates the majority of its revenue from the Wholesale & International Banking segment which includes loans, customer deposits, and other transactions belonging to corporate customers, both BUMN and private business entities. | $0 | -37% | $6.2B | $6.2B | 1.9x | - | ||
| PT Bank Permata Tbk is a private bank engaged in offering financial products and services especially in the hand-delivery channel including Internet Banking and Mobile Banking. The bank focuses on Consumer banking, Corporate banking, Commercial banking and Others segments. | $0 | -72% | $3.2B | $3.2B | 4.7x | - | ||
| PT Bank Syariah Indonesia (Persero) Tbk provides banking products and services in Indonesia. The company's services include ATM cards, electronic data capture, cash management, accounts and deposits, funding, financing services, and mobile banking services. It operates in various segments, namely: Corporate Banking, Commercial Banking, Institutional Relations, Retail, and Treasury Banking & Head Office. | $0 | -59% | $2.8B | $2.8B | 2.1x | - | ||
| PT Bank Danamon Indonesia Tbk is a Jakarta-headquartered commercial bank founded in 1956 as Bank Kopra Indonesia. It serves retail customers, small and medium-sized enterprises and large corporations with deposits, payments, loans, cards, cash management, trade finance and foreign-exchange services. The bank also offers sharia-compliant products and consumer-finance services through its wider group and partnerships. Danamon earns income primarily from lending spreads, financing activities, transaction fees and other banking services. Its distribution combines conventional and sharia branches with automated-teller machines, mobile banking and other digital channels across Indonesia. The company is listed on the Indonesia Stock Exchange under the ticker BDMN and is majority owned by MUFG Bank. Access to MUFG's international network and Danamon's local subsidiaries allows the bank to provide broader financial solutions to Indonesian consumers and businesses. | $0 | +59% | $2.4B | $2.4B | 1.9x | - | ||
| PT Bank CIMB Niaga Tbk operates in the commercial banking sector. Its principal activities include accepting funds from the public in the form of deposits, namely current accounts, time deposits, certificates of deposits, and saving accounts; providing loans, safe deposit boxes, and online banking facilities; performing custodian and treasury activities; offering credit cards, factoring, and trust services; and others. The company's reportable segments are Corporate, Business, Retail, Treasury, Sharia, Others, and Subsidiaries. Maximum revenue is generated from its Retail segment, which focuses on providing products and services to individual customers. It includes products such as loans, deposits, and other transactions, and balances with retail customers. | $0 | -- | $2.1B | $2.1B | 1.9x | - | ||
| PT Bank OCBC Nisp Tbk is an Indonesia-based company engaged in the banking sector. Its segments include Business Banking: Includes loans, deposits and other transactions and balances with corporate customers, Consumer Banking: Includes loans, deposits and other transactions and balances with individual customers, Global Markets: Includes Treasury products, advisory services, and balance sheet management, and Others: Includes ALCO book and head office.. The company generates maximum revenue from business banking segment. Its Business banking segment includes loans, deposits and other transactions and balances with corporate customers. | $0 | -25% | $1.4B | $1.4B | 2.0x | - | ||
| PT Bank Maybank Indonesia Tbk is an Indonesia-based company engaged in the banking sector. It provides various products and services for individual and corporate customers through Community Financial Services (Retail Banking and Non-Retail Banking), and Global Banking, as well as automotive financing through its subsidiaries. Its product and service offerings include digital banking solutions, credit cards, deposit accounts, different types of loans and advances, shariah wealth management, and others. The company, along with its subsidiaries, operates in the following segments: Global Banking, which derives key revenue, CFS Non-Retail, CFS Retail, and Head Office and Others. Geographically, it derives maximum revenue from its business in Indonesia and also has a presence outside Indonesia. | $0 | -22% | $738M | $738M | 1.4x | - | ||
| Median | $0 | -37% | $3B | $3B | 2.0x | - |
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