Bank Mega

What Bank Mega does

PT Bank Mega, Tbk. is an Indonesia-based publicly listed commercial bank (IDX: MEGA) headquartered in Jakarta, founded circa 1969–1970 and operating as part of the CT Corp diversified conglomerate under Chairul Tanjung. The bank serves both retail and corporate customers with a full suite of conventional banking products — savings, time deposits, foreign currency accounts, personal loans, mortgages, credit cards, wealth management, payroll, treasury, trade finance, and syndicated lending — distributed across 10,000+ employees, a national branch and ATM network, and digital channels including the M-Smile mobile app, Mega Internet/MegaBiz internet banking, and a weekend-banking footprint inside Transmart and Trans Studio Mall locations.

Its underlying technology stack combines proprietary digital platforms (M-Smile, Mega Internet for individuals and corporates, MegaBiz for virtual accounts and bulk transfers via BI-FAST) with national and international infrastructure (QRIS, BI-FAST, SWIFT, Dukcapil biometric KYC, SWIFT-based correspondent banking with 15+ international banks). Differentiated digital features include Tap to Pay contactless, QRIS Tanpa Pindai (QRIS TAP without scanning), Pay with Your Watch via Garmin (first in Indonesia), QRIS Cross-Border in six countries, MegaCash chip e-money, and M-Money e-wallet, all protected by ISO 27001:2022 and ISO 27701:2019 certifications.

Bank Mega earns revenue principally from net interest income (corporate, retail, MSME, mortgage, and personal lending) and non-interest income (transaction fees, credit card fees, bancassurance, FX/treasury, trade finance, and digital channel fees). It reaches customers through a direct-to-consumer model — branch, ATM, MegaCall contact center, MILA WhatsApp chatbot, and event-driven campaigns such as Mega Travel Fair — while extending corporate reach via syndicated lending deals and B2B partnerships, evidenced by participation in a USD 625 million mining-sector syndicated loan and MoUs with institutions such as IPB and IHH Healthcare Singapore.

Name

Bank Mega

Legal name

PT Bank Mega, Tbk.

Website

https://bankmega.com/

Company type

Public

Founded year

1969

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

PT Bank Mega, Tbk. (IDX: MEGA) is an Indonesian commercial bank under CT Corp, offering retail, corporate, and digital banking products (savings, credit cards, loans, wealth management, treasury, M-Smile mobile app) distributed through a national branch, ATM, and digital channel network.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221)

SIC

National Commercial Banks (6021), State Commercial Banks (6022)

akta.pro primary industry

General SME & Middle-Market Commercial Banking (FSABABAA)

akta.pro secondary industries

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA), Affluent/Premier Retail Banking (Mass Affluent) (FSABAAAG), SME Business Lending (Term Loans, Lines of Credit, Overdrafts) (FSABABAB)

Keywords

• Retail banking services
• Commercial banking products
• Digital banking platforms
• Credit card services
• Corporate lending solutions

Headquarters

HQ city

Jakarta

HQ country

Indonesia

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Interest Income: Core banking revenue from lending activities including corporate loans, retail loans, MSME loans, mortgages, and personal loans. Interest rates are disclosed through Prime Lending Rate (SBDK) publications.
2. Fee and Commission Income: Non-interest income from transaction fees, service charges, account management, credit card fees, ATM fees, and international services including remittance.
3. Digital Banking Services: Revenue from internet banking, mobile banking (M-Smile), and other electronic banking channel usage.
4. Trade Finance and Treasury: Revenue from foreign exchange, treasury operations, and international banking services.
5. Bancassurance and Investment Products: Revenue from sale of insurance products and investment products through the bank network.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels6 records

Core offering

Bank Mega is an Indonesian commercial bank that provides a broad portfolio of personal and business banking products and services, including savings accounts, time deposits, credit cards, personal loans, wealth management, payroll services, and syndicated corporate financing. Its digital banking channels center on the M-Smile mobile app, Mega Internet and MegaBiz internet banking platforms, and the Mega ATM network, supported by payment innovations such as QRIS, BI-FAST, and international SWIFT-based services.

Product overview

Bank Mega is an Indonesian commercial bank offering a broad portfolio of personal and business banking products and services. Its personal banking lineup includes credit cards, savings accounts (Mega First, Mega Valas), time deposits (Mega Depo), structured savings (Mega Rencana), social savings (Mega Berbagi), personal loans (Mega Cash Line), wealth management, and a loyalty program (MPC). Its digital banking services center on M-Smile (mobile banking), Mega Internet (internet banking for individuals and corporates), and MegaBiz (virtual account and business billing platform). Card products include Mega Pass debit cards (Visa, Mega First, GPN) and co-branded cards such as Mega Travel Card. Electronic money products comprise MegaCash and M-Money. Additional services include Mega ATM, MegaCall customer service, Mega Remittance, Mega Payroll Bisnis, and Mega Credit Shield protection. The bank participates in national payment infrastructure including QRIS, BI-FAST, and SWIFT for international transactions. The portfolio is supported by digital channels (mobile app, internet banking) and a network of branches, ATMs, and correspondent banks.

Differentiator

Problem solved

Functional benefit

Brands

• M-Smile: Mobile banking application for smartphone users to access banking activities, savings products, credit cards, electronic money, cash withdrawals, QR transactions, and promo information.
• Mega Internet
• Mega ATM
• MegaCash
• Mega Pass
• M-Money
• Mega First

Products and services

• M-Smile Mobile Banking Mobile banking application available on Android and iOS providing savings and credit card management, cardless ATM cash withdrawals, QR merchant payments, Tap To Pay, QRIS Cross Border international payments, loan on card, and promotional information for retail customers.
• Mega Internet (Business Internet Banking) Electronic banking service that allows business customers to access accounts and conduct non-cash banking transactions through internet networks.
• MegaBiz Business platform providing virtual account, bulk transfer (BIFAST), and tax payment (pajak) billing services for corporate customers.
• Mega ATM Automated Teller Machine service providing cash and non-cash banking transactions, including cardless cash withdrawals, bill payments, and balance inquiries.
• Mega Pass (Debit Card) Debit card facility issued when opening a savings or checking account, available in Mega Pass Visa, Mega First, and Mega Pass GPN variants, with NFC contactless support.
• MegaCash Electronic money product issued by Bank Mega in chip card form, with the chip storing and securing the monetary value loaded onto the card.
• M-Money Electronic money product usable for payment of goods or services at merchants, accessed through the M-Smile mobile application.
• Mega First Savings Account Premium savings account product offered by Bank Mega as a distinct category for individual customers.
• Mega Rencana Structured savings plan that allows customers to save systematically over time with planned deposits.
• Mega Depo (Time Deposit) Time deposit (deposito) product offered by Bank Mega for individual customers.
• Mega Valas Foreign currency savings account product allowing customers to hold and transact in foreign currencies.
• Mega Berbagi Social savings account combining personal saving with charitable giving, supporting causes including education in underserved areas through the CT Arsa Foundation's PIJAR program.
• Mega Cash Line (Personal Loan) Unsecured personal loan product providing cash financing for personal needs.
• Loan on Card (M-Smile) Credit card-based lending facility accessible through M-Smile, allowing qualified cardholders to convert outstanding balances into installments.
• Mega Credit Shield Credit protection insurance product covering outstanding credit card balances in events such as death or disability.
• Mega Travel Card Co-branded travel credit card offering travel-related benefits and rewards for cardholders.
• Mega Payroll Bisnis Payroll management service for business customers that automates salary disbursements and employee account management.
• Mega Remittance International money transfer service provided by Bank Mega for cross-border remittance transactions.
• Mega Wealth Management Premium banking service providing investment products, financial planning, and wealth advisory for high-net-worth customers.
• Mega Giro (Business Checking Account) Checking account (giro) product for business customers, with variants such as Mega Giro Bisnis and Mega Optima Bisnis.
• MegaInternet Corporate (Corporate Internet Banking) Corporate internet banking service for business and corporate customers, providing account management and transaction capabilities for corporate clients.
• Bank Mega Credit Cards Bank Mega's credit card product line, including standard credit cards and co-branded variants, with rewards through the MPC loyalty program.

Quantifiable outcome

• 28% profit growth in fiscal year 2025 compared to the previous year
• +3 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

AI capability4 records

Feature6 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Bank Indonesia (QRIS Cross-Border Partners)coreTechnology or Integration · 30 April 2026Bank Mega actively supports Bank Indonesia's QRIS Antarnegara cross-border payment initiative, enabling customers to use QR codes in Thailand, Malaysia, Singapore, Japan, South Korea (sandbox), and China. This partnership expands international payment access for Indonesian travelers and merchants.
• Otoritas Jasa Keuangan (OJK) - Bulan Inklusi KeuanganminorStrategic or Co-development Partner · 30 October 2025Bank Mega actively participates in the Bulan Inklusi Keuangan (Financial Inclusion Month) organized by OJK, conducting financial literacy education and promoting savings products at events in Surabaya and Bandung.
• Garmin Indonesia and Visa IndonesiacoreTechnology or Integration · 12 July 2025Bank Mega partnered with Garmin Indonesia and Visa Indonesia to launch 'Pay with Your Watch', the first feature in Indonesia enabling credit card payments via Garmin smartwatch at contactless EDC terminals. This positions Bank Mega as an innovation leader in wearable payments.
• Institut Pertanian Bogor (IPB)coreStrategic or Co-development Partner · 3 July 2025Bank Mega signed a strategic MoU with IPB (Institut Pertanian Bogor) covering integrated institutional financial management, banking products for students/faculty/staff, financial literacy programs, and potential scholarship and training collaborations. The agreement was signed by CEO Kostaman Thayib and witnessed by Commissioner Chairul Tanjung.
• IHH Healthcare SingaporeminorStrategic or Co-development Partner · 26 February 2025Bank Mega entered into a healthcare services partnership with IHH Healthcare Singapore to support banking services for the healthcare ecosystem, expanding financial service offerings to healthcare institutions and patients.
• CT Arsa FoundationminorStrategic or Co-development Partner · 1 January 2022Bank Mega through its Mega Berbagi (savings program) has partnered with CT Arsa Foundation since 2022 to support the PIJAR (Pergi Mengajar) education program sending young teachers to remote areas of Indonesia. The partnership includes SDK Gayak Filial Nobo (NTT), SD Inpres Hamahena (Lembata), SD Negeri 16 Siparayo (West Sumatra), and SMP Swasta Islam Terpadu Al Munawar (North Sumatra).
• International Correspondent BanksminorChannel Partner/ Reseller/ DistributorBank Mega maintains correspondent banking relationships with 15 international banks including JPMorgan Chase (NY), Standard Chartered (London, HK, Singapore), Citibank (USA), DBS Bank (Singapore), UOB (Singapore), ANZ, ING Belgium, Sumitomo Mitsui (Tokyo), Bank of China, and ICBC Indonesia for NOSTRO accounts and international trade services.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Bank CIMB Niaga: Listed Indonesian commercial bank with retail, SME, and corporate banking plus treasury/international services. Direct competitor for the same Indonesian retail and wholesale client base and KBMI tier.
• Bank Permata: Private Indonesian commercial bank (now under Bangkok Bank/Malayan Banking ownership) offering retail savings, credit cards, and corporate/SME banking. Competes directly in savings, digital, and wealth segments targeted by Bank Mega.
• Bank Central Asia (BCA): Largest private Indonesian commercial bank with a similar retail-anchored model (savings, credit cards, M-Smile-style digital channels). Directly comparable on product mix, customer segments, and digital-led distribution; differs materially only in scale (multiple times larger).
• Bank OCBC NISP: Private Indonesian commercial bank with comparable retail and SME portfolio and growing digital banking presence. Direct competitor for mass-affluent and SME deposits and lending in the same Indonesian market.
• Bank Danamon Indonesia: Mid-tier private Indonesian commercial bank serving retail, SME, and corporate customers with a strong branch and digital footprint. Closest direct peer on size tier, product breadth, and Indonesian private-bank positioning.

Broad incumbents

• Bank Negara Indonesia (BNI): State-owned Indonesian commercial bank serving retail, SME, and corporate customers with an extensive digital ecosystem. Overlaps Bank Mega on every product line but at much greater scale and with state backing.
• Bank Rakyat Indonesia (BRI): Indonesia's largest state-owned bank focused on micro, SME, and consumer banking. Comparable on SME/mass-market lending strategy and Indonesian distribution scale; differs in that BRI is government-owned and far larger.
• Bank Mandiri: Largest state-owned commercial bank in Indonesia with full-service retail, SME, and corporate banking. Significantly larger than Bank Mega but the dominant benchmark for Indonesian commercial banking services and pricing.
• HSBC Indonesia: International full-service bank operating in Indonesia with retail, wealth, and corporate banking. Comparable on premium/affluent and trade-finance segments and on the international payments and correspondent-banking capability that Bank Mega leverages.

Emerging players

• Bank BTPN: Indonesian commercial bank under SMBC/FFB focus, oriented toward mass-market and pensioner segments with growing digital channels. Overlaps Bank Mega at the lower end of retail digital banking but with a distinctly narrower customer profile.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/bankmegaid
• Facebookfacebook.com/BankMegaID
• Instagraminstagram.com/bankmegaid

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles19 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bank Mega