PT Bank Danamon Indonesia Tbk is an Indonesian bank established in 1956. It is the sixth largest bank in Indonesia by asset size.[2]
History
In December2017, 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 July2018, Indonesia's Financial Services Authority (OJK) approved MUFG's plan to purchase a further 20.1% stake from Asia Financial.[3] 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.[4]
In December2019, Danamon sold most of its share of Adira Insurance to Zurich Insurance Company, making Danamon a minority shareholder.[5]
Works cited
External links
References
- |Share Ownership Structure & Share Information of Bank Danamon^
- Indonesia-Investments.com:Bank Danamon company profile April 1, 2014^
- Cindy Silviana. Indonesia approves MUFG's stake increase in Bank Danamon to 40 percent Reuters, Reuters, 31 July 2018, retrieved 21 January 2019^
- MUFG Bank Increases Shareholdings in Bank Danamon and Bank BNP www.businesswire.com, 2019-04-29, retrieved 2020-10-21^
- Bank Danamon sold most of its Asuransi Adira shares to Zurich Insurance | IDNFinancials^