Digital banks have seen phenomenal growth over recent years, as accelerating adoption rates drive increasing market value. SeaBank Indonesia—owned by Singapore-based tech conglomerate Sea Limited—enjoyed 207% year-on-year growth in total assets in 2022, reaching US$1.4 billion in 2022. Forbes’ 14th annual America’s Best Banks list looks at growth, credit quality and profitability in the 12 months through September 30, 2022, to rank the 100 largest (by assets) publicly-traded Loan growth at Asian banks is estimated to rise from 4.5% this year to 10% next year, LSEG data shows, with banks in India and Indonesia leading with 15% and 11% growth, respectively. The top four Indonesian banks have kept their loandeposit ratios low in recent quarters. The top four are in an advantageous position with foreign currency deposits exceeding foreign currency loans. This situation reduces our concerns about excessive un-hedged borrowings, which could become problematic, given a depreciating IDR. OCBC Indonesia was not the only suitor: other interested banks include Cathay Bank (Taiwan) and more recently, Japan’s JTrust and Malaysia’s CIMB. The regional banks’ acquisitions of Indonesian banks have altered the line up of Indonesia’s top ten banks (Table 1): Table 1. Top Ten Indonesian Banks by Total Assets (as of 30 September 2023) The Top 100 Asean banks ranking is the definitive measure of the health, performance and growth of leading Asean banks in terms of Tier 1 Capital and covers $2,999,948 million of total assets. To find out how you can access this invaluable data, contact us today: Tel: +44 (0)207775 6368. Email: thebankerdatabase@ft.com. .

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