Bank Danamon
Indonesian bank
PT Bank Danamon Indonesia Tbk is an Indonesian bank established in 1956. It is the sixth largest bank in Indonesia by asset size.
01History
In December 2017, Japan's Mitsubishi UFJ Financial Group (MUFG) bought a 19.9% stake in Danamon from Temasek Holdings for Rp 15.875 trillion ($1.17 billion). The price indicated Danamon was valued at about $6 billion. In July 2018, Indonesia's Financial Services Authority (OJK) 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 (BNP). 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.
Sources and credits
This article is adapted from the Wikipedia article “Bank Danamon”, written by its contributors and licensed under CC BY-SA 4.0. Fathomly has changed the layout, removed citation markers, navigation and maintenance notices, and adjusted punctuation. This adapted version is shared under the same license. For references, see the original article.
Images, from Wikimedia Commons:
- Bank BNP MUFG.svg by PT Bank Nusantara Parahyangan Tbk., PD
- Danamon (2024, with MUFG byline).svg by PT. Bank Danamon Indonesia, Tbk., Public domain
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