Bank Danamon

#3878

Rank

$1.78B

MarketCap ID

ID Indonesia

Country

Summary
PT Bank Danamon Indonesia Tbk provides banking and financial products and services for consumers, small medium enterprises, and commercial and corporate customers in Indonesia. It operates through Retail and Wholesale segments. The company offers savings, checking, and current accounts; time and Sharia deposits; and credit and debit cards. It also provides unsecured personal loans, secured property mortgages, Sharia housing loans, and automotive and business financing services; Sharia leasing; employee cooperative, working capital, investment, trade, mortgage, and financial supply chain financing; and cash management services comprising collection, payment, and liquidity management services. In addition, the company offers foreign exchange, interest rate swap and cross currency swap, marketable securities, money market, and repo/reverse repo products and services; Shariah business and personal; e-banking; personal, investment related, health, and general insurance products and services; investment products, such as mutual funds, investment plans, bonds, and foreign exchanges; and other solutions. As December 31, 2021, the company had 41 conventional main branches; 369 conventional sub-branches, cash branches, and functional branches; and 14 Sharia branches and sub-branches. It also operates a network of approximately 1,471 automated teller machines and 70 cash deposit machines. The company was formerly known as Bank Kopra Indonesia and changed its name to PT Bank Danamon Indonesia Tbk in 1976. The company was founded in 1956 and is headquartered in Jakarta, Indonesia. PT Bank Danamon Indonesia Tbk is a subsidiary of MUFG Bank, Ltd.

History

Bank Danamon was established on July 16, 1956, as PT Bank Kopra Indonesia. In 1976, the bank's name was changed to PT Bank Danamon Indonesia. It began focusing on foreign exchange transactions in 1976 and listed its shares on the Jakarta Stock Exchange in 1989.

Suffering liquidity problems amid the Asian financial crisis, Danamon was in 1997 placed by the government under the supervision of the Indonesian Bank Restructuring Agency . In 1999, the government through IBRA, recapitalized Danamon with Rp 32 billion in Government Bonds. In the same year, some banks taken over by the government merged with Bank Danamon as one part of IBRA's restructuring plan.

In 2000, Bank Danamon merged with another eight banks taken over by the government, further increasing Danamon's size.

Over the next three years, Danamon underwent a massive restructuring, which covered management, human resources, organization, information systems, statutes and company logos. These changes sought to boost the bank's growth, transparency and professionalism.

In 2003, a consortium of Asia Finance Indonesia, under the control of Singapore's Temasek Holdings, bought a majority stake in Danamon. The new management sought to further improve Danamon's performance and position.

In 2008, Danamon adopted the slogan "Untuk Anda, Bisa" .

In July 2017, Danamon adopted the slogan "Saatnya Pegang Kendali" .

In December 2017, Japan's Mitsubishi UFJ Financial Group bought a 19.9% stake in Danamon from Temasek Holdings for Rp 15.875 trillion . The price indicated Danamon was valued at about $6 billion. In July 2018, Indonesia's Financial Services Authority approved MUFG's plan to purchase a further 20.1% stake from Asia Financial. In April 2019, MUFG announced the merger of Danamon and Bank Nusantara Parahyangan . The merger resulted in MUFG becoming the majority shareholders with 94.1% stake of Bank Danamon.In December 2019, Danamon sold most of its share of Adira Insurance to Zurich Insurance Company, making Danamon a minority shareholder.


Key Team

Mr. Mahesh Ajit Ranade (Chief Information Officer)

Mr. Reza Iskandar Sardjono CFA (Chief Strategy Officer and Head of Corp. Planning & Investor Relations)

Ms. Rita Mirasari (Director of Legal & Compliance, Corp. Sec. and Director)

Lily Puspasari Foeng (Chief Marketing Officer)

Mr. Heriyanto Agung Putra (Director of Human Capital & Director)

Mr. Hendy Deiny Wong (Head of Corp. Sec.)

Gemilang Madyakusuma (IT Production Management Head)


Recognition and Awards
Bank Danamon has received numerous awards for its commitment to excellent customer service and innovative products, including the Best Corporate Banking Services award from IFR Asia in 2017, the YES Bank-Frost & Sullivan Financial Inclusion Award in 2017, and the Knowledge Management in Banking Award from the BAI-Infosys Finacle Global Banking Innovation Awards in 2018.

References
Bank Danamon
Leadership team

Mr. Yasushi Itagaki (Pres Director)

Mr. Tjandra Muljono (CFO & Director)

Ms. Evi Damayanti (Chief Operations Officer)

Products/ Services
Banking, Financial Services
Number of Employees
20,000 - 50,000
Headquarters
Jakarta, Jakarta Raya, Indonesia
Established
1956
Net Income
100M - 500M
Revenue
Above - 1B
Traded as
BDMN.JK
Social Media
Fri Mar 01 2024
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