SEAToday.com, Jakarta - Two state-owned enterprises (SOEs), PT Bank Negara Indonesia (Persero) Tbk or BNI and PT Bank Mandiri (Persero) Tbk or Mandiri, made it to the TIME World's Best Companies of 2024 list.

In the list of the 1,000 best companies, BNI is ranked 892nd and Bank Mandiri is ranked 914th. In addition to the two SOEs, there are three other Indonesian companies on the list, Astra International at 435, Adaro Energy at 908, and Charoen Phokphand Indonesia at 961.

Minister of SOEs Erick Thohir said that this is an extraordinary achievement. The reason for this is because at the same awards in 2023, no Indonesian SOEs and companies had entered the list of the best companies based on TIME and Statista.

“This recognition by TIME and Statista reaffirms the position of Indonesian companies among other global companies. They deserve to be taken into account,” Erick said in his official statement.

He added, “Our steps to encourage SOEs to play globally have also proven to be fruitful. Of course there is still plenty of room for BNI and Mandiri to continue to improve their achievements. We support them to work even better.”

According to Erick, this achievement has brought a number of important meanings, which include:

First, International Recognition of Management Quality. This award shows that the business practices and good corporate governance implemented by the two banks have been recognized at the global level. This is proof that Indonesian companies are able to compete with other multinational companies.

Second, Erick added, proof of strengthening Indonesia's image in the eyes of the world. This achievement has helped raise the positive image of Indonesia as a country that has quality companies and is able to compete in the international arena. This can attract foreign investors to invest in Indonesia.

Third, Erick said, it is an inspiration for other companies. The success of BNI and Bank Mandiri is expected to inspire other Indonesian companies to continue to improve the quality of their products and services, as well as implement the principles of good corporate governance.

Fourth, according to Erick, making a Positive Contribution to the Economy. With the inclusion in the list, these two banks will be increasingly trusted by the public and the business world. This can increase public confidence in the national banking sector and will ultimately have a positive impact on Indonesia's economic growth.

Fifth, Erick said, encouraging Financial Sector Strengthening. This achievement shows that Indonesia's financial sector is getting stronger and able to face global challenges. It is also proof that the digital transformation carried out by both banks has yielded positive results.