Winners and judges of the 2016 Investor Best Bank Awards at the award ceremony in Jakarta on Thursday (02/06). (B1 Photo/Uthan A. Rachim)

Investor Magazine Names BRI Among Six Best Banks in 2016


JUNE 03, 2016

Jakarta. Investor magazine held its 2016 Investor Best Banks award ceremony on Thursday (02/06). Bank Rakyat Indonesia, KEB Hana Indonesia, Bank Woori Saudara Indonesia, Bank Sulawesi Barat and Bank Lampung were named as the six best banks of 2106.

The lenders were rated in 12 categories, among them capital strength, loan quality, profitability and liquidity level.

Bank Rakyat Indonesia, or BRI, was declared the best bank with assets of more than Rp 100 trillion, followed by Bank Central Asia (BCA) and Bank Mandiri.

The head of the jury panel, Sigit Pramono, said the award is given to encourage banks to be more efficient. When competition between banks is well-regulated, they would be more likely to cut interest rate and net interest margin, or NIM.

"Incentives should be given to well-regulated banks," said Sigit, who is also the chairman of the Indonesian Banking Association (Perbanas).

Bank Tabungan Negara (BTN) was declared as the bank with the highest net income this year, while the East Nusa Tenggara Regional Development Bank (BPD Nusa Tenggara Timur) won an award for the most efficient and productive regional bank.

Bank Jawa Barat & Banten was named as as the bank with the largest core equity capital in the Rp 1 trillion-Rp 5 trillion ($75-370 million) band.